The Sun. — London, England, 1841-12-28 00:00:00

EVENING SUN the foreign market has not been resorted to ; and it is now submitted whether it would not be advisable t( amend the law by making what remains undisposed payable at a more distant day. • Should it be necessary, in any view that Con fess may take of the subject, to revise the exist- Ing tariff of duties, I beg leave to say, that, in the Performance of that most delicate operation, mode , • rate counsels would seem to be the wisest. The . ..Government, under which it is our happiness to live, owes its existence to the spirit of compromise Which prevailed among its framers—jarring and discordant opinions could only have been recon ciled by that noble spirit of patriotism, which prompted conciliation, and resulted in harmony. In the same Spirit the Compromise Bill, as it is commonly called, was adopted at the session of 1833. While the people of no Portion of the Union will ever hesitate to pay all necessary taxes for the support of Government, yet an innate repug nance exists to the imposition of burthens not really ne eeseary for that object. In imposing duties, however, the'purposes of revenue, a right to discriminate as to .1 4 - articles on which the duty shall be laid, as well as the - 1; .'!•Mount, necessarily and most properly exists. Otherwise • e Government would be placed in the condition allay '-4't fl levy the same duties upon all articles, the productive s elis 'aX, ;well as the unproductive. The slightest duty upon some , I A iti, itight have the effect of causing their importation to • sense; whereas others entering extensively into the consumption of the country, might bear the heaviest, without any sensible diminntion in the amount imported. So also the Government may be justified in so discrimina -444, ting, by reference to other considerations of domestic I 4.',7 Policy connected with our manufactures. So long as the duties shall be laid with distinct reference to the ' wants of the Treasury, no well founded objectio n can exist against them. It might be esteemed desir a bl e that no such augmentation of the taxes 11 ," . ; should take place as would have the effect of unsmiling the Land Proceeds Distribution Act of the last session, which Act is declared to be inoperative the ~ lh 1 , e : moment the duties are increased beyond 20 per cent., the maximum rate established by the Compromise .4 , Act. Some of the provisions of the Compromise Act, which will go into effect on the 30th day of June next, may, however, be found exceedingly inconvenient in practice, under any regulations that Congress may • adopt. I refer more particularly to that relating to the home valuation. A difference in value of the same articles to some extent, will, necessarily, exist at different parts ; but that is altogether insignifi cant, when compared with the conflicts in valua '''tion which are likely to arise from the differences of opinion among the numerous appraisers of mer chandise. In many instances the estimates of value Must be conjectural, and thus as many different rates of value maybe established as there are appraisers. These differences in valuation may also be increased by the inclination, which, without the slightest imputation on their honesty, may arise on the part of the appraisers in favour of their respective ports of entry. I recommend this whole subject to the consideration of Congress, with a single additional remark. Certainty and permanency in 14 4 , any system of governmental policy are, in all respects, teetll desirable; but more particularly is this true in tee,,t ll that affects trade and commerce, the operations of 'ke y `Which depend much more on the certainty of their re -41,4,;'• tarns, and calculations which embrace distant periods of Le % 'time, than on high bounties, or duties, which are liable to constant fluctuations. At your late session I invited your ajtention to the Condition of the currency and exchanges, and urged the necessity of adopting such measures as were consis tent with the corstitutional competency of the Govern- Inent, in order to correct the unsoundness of the one, and as far as practicable the inequalities of the other. No country can be in the enjoyment of its full measure , of prosperity, without the presence of a med i um of ex e change, approximating to uniformity- of value. What is e . cceessary as between the different nations of the earth, is also important as between the inhabitants of different Parts of the same country ; with the first the precious metals constitute the chief medium of circulation, and such also would be the case as to the last, but for inven tions comparatively modern, which have furnished, in Place of gold and silver, a paper circulation. I do not Propose to enter into a comparative analysis of the me- St rlts of the two systems. Such belonged more properly `The the period of the introduction of the pap er s y stem. ?The speculative philosopher might find inducements to l i,i ii rc!iecute the inquiry, but his researches could only 4ed be tter him to conclude that the paper system had p robabl y never have been introduced, and that society have been much happier without it. The practi ch statesman has a very difficult task to perform. He has .o to look at things as they are — to t ake them as ho hods them, to supply deficiencies, and to prune excesses as far as in him lies. The task of furnishing a corrective for derangements of the paper medium with us is almost inexpressibly great. The power exerted by the States to charter banking corporations, and which, having been carried to a great excess, has filled the country with, in most of the States, an irredeemable paper medium, is an „ e vil which, in some way or other, requires a correc tive. The rates at which bills of exchange are nego tiated between different parts of the country, furnish an intisex of the value of the local substitute for gold and sil e cr, which is, in many parts, so far depreciated as not to b e received, except at a large discount, in payment of de;tits, or in the purchase of produce. It could ear kestly' be desired that every bank, nut possessing the team; of resumption, should follow the example of the II? United States Ba nk of Penns y lvania, . and g o into inid; Ilion, rather than by refusing to do so to continue iMbar rassments in the way of solvent institutions , thereby nting the difficulties incident to the present condi tion or things. Whether this Government, with due re tard ti ) the rights of the States, has any power to con- Strain The banks, either to resume spec i e paymen t s , or to , °l.ce them into liquidation , is an in q uir y which will not Lf ail to claim your consideration. In view. of the great 4( tv antages which are allowed the corporators, not :rift ng the least of which is the authority contained 1.5 most of their charters to make loans to three [ line's the amount of their capital, thereby often deriving L ilreE , times as much interest on the same amount of ty as any individual is permitted by law to receive, ' lO su tlicient apology can be urged for a long continued e a ltspe nsion of specie payments. Such suspension is pro `Metive of the greatest detriment to the public, by ex- Pellinie from circulation the precious meta ls, and se tiously hazarding the success of any effort that this Go terms:tent can make to increase commercial facilities and to advance the public interests. , This is the more- to be regretted, and ,the indispensa ble necees i ty for a sound currency becomes the more 111 anifest when we reflect on the vast amount of the Internal commerce of the country. Of this we have 1 1 ,0 statistics, nor just data for forming adequate opinions. there can be no doubt, but that the amount of trans tation coastwise, by sea, and the transportation I nland by railroads and canals, and by steam-boats and „ (411 "ir modes of conveyance , o ver the surface of h __ . " ll t vast rivers and immense lakes, and the value of pro- Y carried and interchanged by these means, form a '''atral aggregate to which the foreig n commerce of the entry large as it is, snakes but a distant approach. In the absence of any controlling power over this sub re 'which, by forcing a gen eral resum p tion of specie Otnent s , would at once have t he effect of restorin g a bit little medium of exchange , a nd would leave to the country little to desire,what measure of relief, falling within the thln ts•of our constitutional competency, does it become l a Government to adopt ? It was my painful duty at JO4 t h i last session, under t he wei g ht of most solemn rations, to differ with Congress on the measures - " 1c h h proposed for m y a pp roval, and which it doubt less :regarded as corrective of existin g evils. Subsequent r to efit " ti °n , and events since o ccurrin g , have only served f an fi rril me in the opinions t hen entertained, and rani expressed. Iraust be permitted to add, that no scheme of govern rental policy, unaided by individual ex ertions, can be vailable for ameliorating the present condition of things. i re modes of exchange and a g ood currenc y .. it e but the necessary means of commerce a nd inter „. ,urs e not the direct productive sources of we alth. 'S t ealth can only be accumulated by the earnings of in 4aettry and the savings of frugality ; and nothing can be mire ill-judged than to look to facilities in borrowing, P . to a. redundant circulation as the power of discharg 'll: pecuniary obligations. The country is full of re . kt trees, and the people full of energy, and the great and Pee .mastent remedy for present embarrassments must be tocight in industry, economy, the observance of good tai t ii, and the favourable influence of time. Ir,n. pursuance of a pledge given to you in my last mes e to Congress, which pledge I urge as an apology for e 'mn eeaturing to present you the details of any plan, the " t _e rittary of the Treasury will be ready to submit to you, short you re quire it, a plan of finance which, while it thr ce , re around the public treasure reasonable guards for is prac tice ot:teeti°l3 an d rests on powers acknowledged in at th e the Government, will exist ' from the origin of .'ame time, furnish to the country a sound paper bieuhtuzi and afford all reas onable facilities for regulating tzi exchanges. When submi tted, y ou will perceive et it a to,plait a mendatory of the exi stin g laws in relation u the Treasury Department—subordinate in all respects ; t he will of Congress directly, and the will of the ' pe ople indireci.ly—self-sustaining, should it be found in t aetice to realize its promises in theory, and repealable &dual 1 1 the pleasure of. Congress. It proposes by e tiestraints, and by i n voking the true spirit of one institu b, '41 , 8 , to separate the parse from the sword; or more pro ''rty to speak, denies any other control to the President ' ( ‘ - er the agents who may be selected to carry it into ex .. eation, but what may be indispensably necessary to 7 . !etere the fidelity of such agents ; and, by wise regula ,"Ms', keeps plainly apart from each other, private and Public funds: It contemplates the establishment of a e s t- T!oard o.f Control at the seat of Government, with agen otes at proniinent commercial points, or wherever else iengress shall direct; for the sate keeping and disburse hent of the public moneys, and a substitution, a t t h e 'Pption of the public creditor, of treasury notes, in lieu of gold and silver. It proposes to limit the issues to an It tnount not to exceed 15,000,000 dol., without the express s nction of the Legislative power. It also au t h orises t he receipt of individual's deposits of g old and silver to l imited amount, and the granting cert ificates of de p osit, ' dividede into such sums as may be called f or b y the de .Pesitors. It proceeds a step further, and authorises the purchase and sale of domestic bills and drafts, resting a real and substantial basis, payable at sight., or it.aving but a short time to run, and drawn on p laces not -s!1 than one h un d re d miles apart ; which authority , ex cept. in so far as may be necessary for Government pur rMsee, exclusively, is only to be exerted upon t h e e x p ress ,dition, th a t it s e x ercise shall not be prohibited by the State it, which the agency is situated. it willln order t o cove r the expenses incident to the plan, be authorised to receive moderate premiums for certificates issued on deposits, and on bills' bought and 5011 , a nd thus, as far as its dealings extend, to furnish facilities to commercial intercourse at the lowest possi ble r ates, and to subduct from the earnings of industry , the least possible sum. It uses the State Banks at a dis tance ru se n n_c aY e n fro m the agencies as auxiliaries, without impart - , Power to trade in its name. It is subjected to such • as and restraints as have appeared to be necessar y THE SUN, LONDON.,; TUESDAY, DECEMBER, 28, 1841. r It is the creature of law, and exists only at the pleasure of the Legislature. It is made to rest on an actual specie basis, in order to redeem the notes at the pineeF of issue. produces no dangerous redundancy of circulation, af fords no temptation to speculation, is attended by no in dation of prices, is equitable in its operation, makes the Treasury notes, which it may use along with the certi ficates of deposit, and the notes of specie paying banks, convertible at the place where collected, receivable in payment of Government dues—and, without violating any principle of the Constitution, affords the Govern• ment and the people such facilities as are called for by the wants of both. Such, it has appeared to me, are its recommendations, and in view of them it will be sub mitted, whenever you may require it, to your consi deration. I am not able to perceive that any fair and candid ob jection can be urged against the plan, the principal out lines of which I have thus presented. I cannot doubt but that the notes which it proposes to furnish at the vo luntary option of the public creditor, issued in lieu of the revenue and its certificates of deposit, will be maintained at an equality with gold and silver everywhere. The) are redeemable in gold and silver on demand, at the places of issue. They are receivable everywhere in payment of Government dues. The Treasury notes are limited to an amount of one-fourth less than the esti mated annual receipts of the Treasury, and in addition they rest upon the faith of the Government for their re demption. If all these assurances are not sufficient to make them available, then the idea, as it seems to me, of furnishing a sound paper medium of exchanges may be entirely abandoned. If a fear be indulged that the Government may be tempted to run into excess in its issues at any future day, it seems to me that no such apprehension can rea sonably be entertained until all confidence in the repre sentatives of the States and of the people, as well as of the people themselves, shall be lost. The weightiest considerations of policy require that the constraints now proposed to be thrown around the measure should not, for light causes, be removed. To argue against any pro posed plan its liability to possible abuse, is to reject every expedient, since every thing dependent on human ac tion is liable to abuse. Fifteen millions of Treasury,notes may be issued as the maximum, but a discretionary power is to be given to the Board of Control, under that sum, and every consideration will unite in leading them to feel their way with caution. For the eight first years of the existence of the late Bank of. the United States, its circulation barely exceeded 4,000,000 dol. ; and for five of its most prosperous years, it was about equal to 16,000,000 dol. ; furthermore, the authority given to re ceive private deposits to a limited amount, and to issue cer tificates in such sums as may be called for by the depositors, may so far fill up the channels of circulation as greatly to diminish the necessity of any considerable issue of Treasury notes. A restraint upon the amount of private deposits has seemed to be indispensably neces sary, from an apprehension, thought to be well-founded, that in any emergency of trade confidence might be so far shaken in the Banks as to induce a withdrawal from them of private deposits, with a view to ensure their un questionable safety when deposited with the Govern ment, which might prove eminently disastrous to the State Banks. Is it objected that it is proposed to authorise the agencies to deal in bills of .exchange? It is answered that such dealings are to be carried Oh at the lowest pos sible premium—are ix ade to rest on an unquestionably sound basis—are designed to re-imburse merely the ex• penses which would otherwise devolve on the Treasury, and are in strict subordination to the decision of the Su me Court, in the case of the Bank of Augusta against Vele and other reported cases, and thereby avoids all conflict with State jurisdiction, which I hold to be indispen sably requisite. It leaves the banking privileges of the States without interference—looks to the Treasury and the Union—and, while furnishing every facility to the first, is careful of the interests o the last. But, above all, it is created by law, is amendable by law, and is repealable by law; and, wedded as I am to no theory, but looking solely to the advancement of the public good, I shall be amongst the very first to urge its repeal, if it be found not to subserve the purposes and objects for which it may be created. Nor will the plan be submitted in any overweening confidence in the sufficiency of my own judgment, but with much greater reliance on the wisdom and patriotism of Congress. I cannot abandon this subject, without urging upon you, in the most em phatic manner, whatever may be your action on the sug gestions which I have felt it to be my duty to submit, to relieve the Chief Executive Magistrate by any and all constitutional means, from a controlling power over the public Treasury. If, in the plan proposed, should you deem it worthy of your consideration, that separation is not as complete as you may desire, you will, doubtless, amend it in that particular. For myself, I disclaim all desire to have any control over the public mone) s, other than what is indispensably necessary to execute the laws which you may pass. Nor can I fail to advert, in this connection, to the debts which many of the States of the Union have con tracted abroad, and under which they continue to labour. That indebtedness amounts to a sum not less than $200,000,000 and which has been retributed to them, for the most part, in works of internal improvement, which are destined to prove of vast importance in ultimately advanc ing their prosperity and wealth. For the debts thus con tracted the States are alone responsible. I can do no more than express the belief, that each State will feel itself bound, by every consideration of honour, as well as of interest, to meet its engagements with punctuality. The failure, however, of any one State to do so, should in no degree affect the credit of the rest; and the foreign capitalist will have no just cause to experience alarm as to all other State stocks, because any one or more of the States may neglect to provide with punctuality the means of redeeming their engagements. Even such States, should there be any, considering the great ra pidity with which their resources are developing them selves, will not fail to have the means, at no very distant day, to redeem their obligations to the uttermost far thing ; nor will I doubt but that in view of that honourable conduct which has heretofore governed the States, and the People of this Union, they will each and all resort to every legitimate expedient, before they will forego a faithful compliance with their obligations. From the Report of the Secretary of Was', and other Reports accompanying it, you will be informed of the progress which has been made in the fortifications de signed for the protection of our principal cities, road steads, and inland frontier, during the present year ; \together with their true state and condition. They will be prosecuted to completion with all the expedition which the means placed by Congress at the disposal of the Executive will allow. I recommend particularly to your consideration, that portion of the Secretary's Report which proposes the establishment of a chain of military posts, from Coun cil Bluffs to some point on the Pacific Ocean, within our limits. The benefit thereby destined to accrue to our citizens engaged in the fur trade, over that wilder ness region, added to the importance of cultivating friendly relations with savage tribes inhabiting it, and at the same time of giving protection to our frontier set tlements, and of establishing the means of safe inter course between the American settlements at the mouth of the Columbia River, and those on this side of the Rocky Mountains, would seem to suggest the importance of carrying into effect the recommendations upon this head with as little delay as may be practicable. The Report of the Secretary of the Navy, will place youin possession of the present condition of that import ant arm of the national defence. Every effort will be made to add to its efficiency, and I cannot too strongly urge upon you, liberal appropriations to that branch of the public service. Inducements of the weightiest cha ractor exist for the adoption of this course of policy. Our extended and otherwise exposed maritime frontier, calls for protection, to the furnishing of which an efficient naval force is indispensable. We look to no foreign con quests, nor do we propose to enter into competition with any other nation for supremacy on the ocean ; but it is due not only to the honour, but to the security of the peo ple of the United States, that no nation should be per mitted to invade our waters at pleasure, and subject our towns and villages to conflagration or pillage. Economy in all branches of the public service, is due from all the public agents of the people—but parsimony alone would suggest the withholoing of the necessary means, for the protection of our domestic firesides from invasion, and our national honour from disgrace. I would most earnestly recommend to Congress, to abstain from all appropria tions, for objects not absolutely necessary ; but I take upon myself, without a moment of hesitancy, all the re sponsibility of recommending the increase and prompt equipment of that gallant navy which has lighted up every sea with its victories, and spread an imperishable glory over the country. The Report of the postmaster-General will claim your particular attention, not only because of the valuable suggestions which it contains, but because of the great importance which, at all times, attaches to that interest ing branch of the public service. The increased expense of transporting the mail along the principal routes, neces sarily claims the public attention, and has awakened a corresponding solicitude on the part of the Govern ment. The transmission of the mail must keep pace with those facilities of inter-communication which are every day becoming greater through the building of railroads, and the application of steam-power—but it cannot be dis guised that, in order to do so, the Post-office Department is subjected to heavy exactions. The lines of communi cation between distant parts of the Union are, to a great extent, occupied by railroads, which, in the nature of things, possess a complete monopoly, and the Depart ment is therefore liable to heavy and unreasonable charges. This evil is destined to great increase in fu ture, and some timely measure may become necessary to guard against it. I feel it my duty to bring under your consideration a practice which has grown upl in the administration of the G over nment, and which, I am deeply convinced, ought to be corrected. I allude to the exercise of the power, which usage, rather than reason, has vested in removing m o incumbents re i. in .favour with from the office, i n Tv own conduct, in this respect, has been order the Presidents , substituteidents domi nant party. IV . i s s e o the r re moving f others power, only governed by a consciienn.teioauses.spuoripuonsefa.it,tohfeuxlenrees and suppress that spirit inabi lity, or in those in which its exercise appeared neces sary, in order to discountenance ti~hich not on ly withdraws them from impartial acti ve p ar ti san ship on the part fofmhooldeerssteoafdyoffiacned, impartial discharge of their official duties, but exerts an undue and injurious influence over elections, and de grades the character of the Government itself, inas much as it exhibits the Chief Magistrate, as being a party, through his agents, in the secret plots or opon workings of political parties. In respect to the exercise of this power, nothing should be left to discretion which may safely be regulated by law ; and it is of high importance to restrain as far RS possible, the stimulus of personal interests in pub lic elections. Considering the great increase which has been made in public offices, in the last quarter of a century, and the probability of farther increase, we incur the hazard of witnessing violent political contests, di rected too often to the single object of retaining office, by those who are in, or obtaining it, by those who are out. Under the influence of these convictions I shall ordially concur in any constitutional measures for reou ating, and by regulating, restraining, the power, otPre moval. I suggest for your consideration, the propriety of making, without further delay, some specific applica tion of the funds derived under the will of Mr. Smith son, of England, for the diffusion of knowledge ; and which have, heretofore, been vested in public stocks, until such time as Congress should think proper to give them a specific direction. Nor will you, I feel confident, permit any abatement of the principal of the legacy to be made, should it turn out that the stocks, in which the investments have been made, have undergone a depreciation. In conclusion, I commend to your care the interests of this district, for which you are the exclusive legislators. Considering that this city is the residence of the Govern ment, and, for a large part of the year, of Congress, and considering, also, the great cost of the public buildings, and the propriety of affording them at all times careful protection, it seems not unreasonable that Congress should contribute towards the expense of an efficient police. Washington, Dec. 7, 1841. JOHN TYLER. STATUE OF WASHINGTON. WASHINGTON, DEC. 1, 1841. The colossal statue of Washington was placed to-day upon the pedestal erocted i for it in the Rotunda of the Capitol, in presence of a large number of persons. It is a magnificent piece of statuary, and the front view is particularly imposing. It is all hewn from one piece of marble. Washington is represented as sitting in his chair of state, with his right hand pointing upwards, and his left grasping the hilt of a sword inversed. The statue (after the model of Jupiter Tonal's) is eleven feet in height. On one side of the chair is a carving repre senting Phaeton in his fiery car, and on the other a young Hercules strangling a serpent. On the base of the chair is this inscription : . Simulacrum istud ad magnum libertatis exemplum nec sina, nec sape duraturum, Horatio Grenough Faciebat. The pidestal on which it stands is thirteen feet in height, making 25 feet from the surface of the Rotunda to the top of the figure. The likeness is recognized by every one, as taken from the best pictures of Washing ton, with which all are so familiar—the profile has a striking resemblance to General George Washington, of George Town, the nearest living male relative, who was present to-day. Some think the style of the statue too Roman to suit American tastes, preferring him in 1-egi mentals ; but these crude notions will wear away in time It weighed thirty thousand pounds, and cost in all as many dollars. Mr. Easby is the modern Archimedes who raised it to its destined elevation. He was assisted by a large force of seamen from the navy yard. There is one objection—it takes too much space in the Rotunda; and the light strikes it from above, instead of from the side. The black bronze figure of Jefferson has been re moved, and Capt. Levy can take it himself. PHILADELPHIA, DEC. 2._ Yesterday the city was thrown into no little confusion on ascertaining that several forgeries had been com mitted on our banks by a youth, a clerk with the firm of Messrs. Massey and Co., whose place of business is 27, South Wharves. This clerk, whose name is Maurice Pitcher, left the city on Tuesday in a mysterious manner, when, for the first time, a suspicion was excited in refe rence to the manner in which he had kept his accounts. The bank books of the firm were inspected, and a visit made to each of the banks in which they kept ac counts, when it was ascertained that forgeries to the amount of several thousand dollars had been perpetrated. On the Farmers' and Mechanics' Bank the forgeries amounted ,to $5,000 ; on the Bank of North America they amounted to $4,000 ; on the Bafik of Pennsylvania to $2,500 ; on the Phila delphia Bank to $1,500 ; and on the Mechanics' Bank to $5OO. The forgeries on the Bank of North America were committed in the name of Mr. Emanuel Eyre alone ; the others were in the name of the firm. On an inspection of the checks, it appears that the sig. natures have been carefully traced, by holding genuine checks between them and a strong light, as they are ex ecuted in a style calculated to deceive almost 'any unsus pecting person. Pitcher, it is believed, has gone to New York with the proceeds of this transaction, b u t f rom the efforts now being made for his capture, he will no doubt, be taken in a few days. He is the same individual who, with a brother, figured in the extensive speculations of the distinguished master Brooks, who, you may remember something over a year since, then not ten days out of the Penitentiary, proposed to enter into the transportation business, married " the pretty bar-maid" of Franklin-place, and by his address imposed upon car builders, holders of depot property, merchants, and, - by plausible and seductive pro mises, inveigled the two young Pitchers, both under t wenty years of age, with others, to leave their situations, with the view of serving with him in his new business. These young lads were with him for three or four weeks, until he was discovered to be a swindler, and were with him indicted for a conspiracy to defraud; but it being the general opinion that the lads were " more sinned against than sinning," they were both acquitted. It is now feared that the virus of the villain Brooks took deeper root than the public hoped for, and that at least one of them is thoroughly innoculated with crime, if indeed there was no disposition to take it in the natural way. The present supposed criminal is about nineteen years of age, five feet six or seven inches high, with red dish hair and a florid complexion. Reinhart, the convict for murder in the Reading gaol, yesterday morning, having previously by some means freed himself of his irons, rushed past the female who had taken him his breakfast, and made his escape. He was shortly after captured, not, however, until he had re ceived a gun shot wound in the arm. The biisiness in Stocks to-day was again light at prices much as yesterday. Sales ere almost wholly confined to State Fives at 60. They closed at 59:1 bid. Exchange on New York has again advanced to 54, OFFICIAL—TREASURY NOTES. TREASURY DEPARTMENT, DEC. 2, 1841.—Amount of Treasury Notes issued under the provisions of the Acts of Congress of 1837, 1838, 1839, 1840 : $26,681,337 53 Redeemed of that amount 25,103,571 30 Leaving outstanding :1,577,766 21 Issued under Act of Feb. 15, 1841, viz.:— Prior to the 4th of March... 673,681 32 Since the 4th of March... 5,423,300 97 Making 6,096,982 29 Returned to the Treasury of that amount 415,890 68 5,651,091 61 Making the aggregate outstanding on the Ist instant 57,228,857 84 W. FORWARD, Secretary of the Treasury. MONEY AND COMMERCIAL NEWS. NEW YORK MONEY MARKET, DEC. 2.—The sales at the Stock Board to-day were to a fair extent, but prices varied materially. Delaware and Hudson improved Stonington 4, Paterson 1, Mohawk 1, Bank of America ; Long Island declined *, Illinois 6's ?J. per cent., Indi ana s's I ; sales of Bills on Philadelphia 5 a se, Balti more 4, obile 10, New Orleans 6 a 6i. The ship Baltimore, for Havre, carries out 53,000 Mexican dollars. A nother sale of the State credit was made to-day at auction, being 100,000 dollars six per cent. stock, no minally at par. The actual price was much less than that. RATE OF SALES AT THE STOCK EXCHANGE. 813,000 Illinois 6's, 1870, s 3 33 3,800 N. Y. State s's 1658 BBi 1,000 Kentucky Bonds 5,000 Indiana Stlg 2,000 Indiana Dol. Bonds ••• 3si 120 Ditto Delaware and Hudson... 25 Ditto Manhattan Bank 10 Ditto State Bank 13 Ditto Bank of America .. 50 Ditto Patterson R 50 Ditto Boston and Prov 100 Ditto Harlem R b 3 16i 250 Ditto Long Island Railroad 10 Ditto Ohio Trust Co 25 Ditto Farmers' Loan 25 Ditto Canton Co 100 Ditto Vicksburgh Bank ..... 10 Ditto Mohawk R 25 Ditto N. Jersey R 75 Ditto Stonington R $6,000 Exchange on Philadelphia s 3 52 22/ 941 SECOND BOARD. 60 shares Long Island R.. 50 Ditto Harlem R $l,OOO Indiana STATE OF TRADE.----The following sale of real estate was made at auction to-day. Twenty-one years lease of two-story house No. 194, Canal-street, free of ground rent, sold for 5,0 0 0 . Ashes.—Since our last, about 100 bbls of Pots have been sold at $6. No transactions in Pearls worth re porting. Cotton—The market remains dull. Flour — The market is rather unsettled. The large receivers refuse to sell common brands Canal short of $6.50. Sales however have been made by some holders at $6.25. NEW YORK MONEY MARKET, DEc. 7. There has been a small business done in Stocks to day, and prices show but little variation. Delaware and Hudson declined I ; Harlem -A- ; Canton ; Long Island ; Paterson rose ; sales of Indiana Bonds at a decline of ; bills on Ph' adelphia 5a 5 ; Baltimore 3k a 4. The Clinton County Bank failed yesterday at Albany, as we long since predicted. The following is a list of the safety fund banks which have failed lately : BROKEN SAFETY FUND BANKS. Banks. Capital. Circulation. Wayne County Bank sloo,ooo $144,392 Bank of Buffalo 200,000 195,000 Commercial Bank of N. York 500,000 121,370 Commercial Bank of Buffido 400,000 246,000 City Bank of Buffalo Commercial Bank Oswego Clinton Co. Bank . 200,000 193,616 Total 52,250,000 $1,385,396 Against each and all of these banks have we cau tioned the public, and sounded the alarm in season to prevent loss. There are mai iy others on the brink of an explosion ; among them the) Yates County, Chatacque, Bank of Lyons, and the Genesee County Banks in par ticular. The weakness of these last-mentioned banks, arises immediately from the. disastrous speculations in flour. There is now in this city over 200,000 barrels of flour, which cost the miller over 7 dol. 25 c. per barrel, and which cannot now be sold for 6 dol. 25 c.; the con sequence is, that the drafts go back upon the Rochester banks, and, added to their other difficulties, will bring them down. We understand th at the Rev. John Cruick shank, the father of the P resbytery of Strathbogie, one of the seven ministers nomir.ally deposed by the last General Assembly, died at the /ianse of Glasse on the morning of Monday last, the 20th. inst. SPEECH OF THE KING OF THE FRENC R (From a Second Lion of the Times.) We have received by Extraordinary Express from Paris the King's Speech on the opening of the Session of the Chambers, which took place yesterday, at one o'clock. The King passed the Bridge de la Concorde at five minutes before one o'clock, on his way to the Chamber of Deputies, in a close carriage drawn by four horses, and attended by four other carriages. Precautions had been taken to pre vent the approach of any person within musket shdt of the line of march, except the military on duty ; even the terraces of the Tuilleries gardens were closed. The King opened the Session of the Chambers with the usual formalities, and with tl# following Speech from the Throne : " Gentlemen, Peers, and Deputies—Since the close of your last session the questions which ex cited in the East our just solicitude have reache their term. I have concluded with the Emperor of Austria, the Queen of Great Britain, the King of Prussia, the Emperor of Russia, and the Sultan, a Convention which consecrates the com mon intention of the Powers to maintain the peace of Europe, and consolidate the repose of the Ottoman Empire. "The great burdens imposed upon the country have already experienced considerable reduc tions. It would have been my lively wish that a balance should have been immediately re-es tablished between the expenditure and revenue of the State. This is the result which we must now prepare, and which you will achieve without weakening our military organization, and with out deferring the execution of those works which are to increase the national prosperity. " A project of law will be presented to you for constructing the principal lines of a great sys tem of railroads, calculated to ensure those rapid and easy communications with all parts of our territory, which will prove a source of force and riches to the nation. " I am endeavouring, at the same time, by negotiations prudently conducted, to extend our commercial relations, and to open new markets for the productions of our soil, and of our arts. " Such labours honour peace, and render it stable and fruitful at the same time. I have reason to believe that it will not be disturbed, re ceiving from all the Powers the most amicable assurances. " I have taken measures to prevent any exter nal complication from disturbing the security of our African possessions. Our brave soldiers are pursuing on that laud, henceforth and for ever French, the course of their noble labours, in which I am happy that my sons have had the honour of concurring. Our perseverance shall complete the work undertaken by our courageous army, and France will introduce into Algeria her civilisation as the consequence of her glory. "The financial laws and others, having for their object to introduce useful improvements in the public administration, will be presented to you immediately. " Whatever may be the burdens of our situa tion, France would support them without difficulty if faction did not unceasingly obstruct the course of her powerful activity. I will not dwell upon the intrigues and crimes of the factious, but let us not forget, Gentlemen, that it is that which debars our country from fully enjoying all the bles sings which Providence has conferred upon it, and which retards the development of that legal and pacific liberty which France has at last achieved, and of which I make it my glory to ensure her the possession. "We shall follow up this task, Gentlemen. My Government will do its duty. It will main tain everywhere and constantly the authority of the laws, and cause them to be respected, as it will respect them itself. Your loyal support will aid me. In enlightening the country with persevering sincerity with regard to its true interest, we shall strengthen by its sup port, and by our union keep entire, the sacred deposit of order and public liberties which the charter has confided to us. Future generations will reap the fruit of our endeavours, and the gratitude of our country will be our recompense." The journals of this day contain two important documents—the declaration of the major part o f the newspaper press of Paris, and that of the Com_ mittee of the Literary Society (Societe des Gens de Lettres), on the late conviction of M. Dupoty, the editor of the Journal du Peuple, by the Court of Peers. The address of the journalists is cool and mo derate up to the last paragraph, which contains in italics, an appeal to the patriotism, and the courage of th e N at i ona l G uar d s an d of all French Citizens. " Take it for granted," says our Correspondent, " that all will pass off quietly." PROBABLE SCHISMS BETWEEN THE FRENCH AND SPANISH GOVERN MENTS. We have by this express received letters from our Madrid Correspondent to the 21st inst. inclu sive. Their contents are important. Our Correspondent writes : " Serious difficulties, which will necessitate the sending of several couriers to Paris, have arisen between the Spanish Ministry and the French Ambassador, on the subject of the presentation by the latter of his credentials. " The 'Spanish Government pretend to the right of exacting that M. de Salvandy (the French Ambassador), shall present his cre dentials to the Regent only, and the instruc tions of M. de Salvandy are positive to present them only to the Queen, but leaving to her Majesty the discretion of communicating them to the Regent (Espartero), who will be present. This proposition (our Correspondent observes) is in strict conformity with the usages, ancient and modern." " It is not possible,"con tinues our correspondent 'that this difficulty can be got over betbre there turn of the couriers who have been sent to Paris by M. de Salvandy, and which will be about the 2Sth inst. It is said here that if the Spanish Government persist in its pretensions, M. de Salvandy has orders to quit Madrid without pre senting his letters of credit. This would be a deplorable result, and which would impart vast gravity to that difficulty which at first might have only appeared a matter of etiquette." " The Eco del Comercio announces, under date Gibraltar, December 10, that the English Levant packet had arrived in that harbour in so damaged a condition that she was unable to proceed on her voyage. There were upwards of one hundred passengers on board, and the Fenicio steamer was to be freighted for the purpose of conveying them and the mail to Malta. There were then four ships of the line in Gibraltar, another had sailed for Lisbon, and two more were expected." " The Madrid funds (Actives) on the 21st were at 33 cash ; and 34, 60 days." By this express we have also received our correspondence from Egypt and Turkey, brought by the Levant Mail. It announces that a total change has taken place in the Turkish Ministry. FATHERS AND SONS, A NOVEL BY THEO DORE HOOK, ESQ.—While every body will agree that this new work of our late unrivalled humourist, is at least equal to any one of his previous works, few of its readers but will feel that it derives an adventitious, but, neverthe less, a real and deep additional value, from the knowledge that it is the last offering he will ever contribute to ," the gaiety of a nation." In that admirable and inimitable truth of character and force of humour which'are the leading features of Hook's works no one of those works surpasses " Fathers and Sons ;" and in at least three of its leading characters, we do not call to mind one that equals it. The two " Fathers," Bruff and Grindle, snd one of the " Sons," George Grindle, are, in their were equal to any thing of the kind that our literature can boast. With the force of Smollett, and the general truth of Fielding, they unite an off-hand ease and naturalness, that no other writer ever attained. Mrs. Smylar, too, is an admirable picture, representing at once an entire class, and a perfectly individualized portrait. But the merit of " Fathers and Sons " is not confined to its cha racters ; it boasts a plot of extreme ingenuity which keeps the curiosity perpetually on the stre tch, up to the very last chapter of the work.—Nava l and Military Gaz MEXICO. FALMOUTH, DEC. 26.—The Star packet, Lieutenant Smith. arrived this morning from Mexico, having sailed from Tampico ou the ith, Vera Cruz on the 16th,' and Havannah the 26th of November. She brings 153,000 dollars on freight, all on merchant's account. In politics we have little news from this quarter ; and as regards commercial matters, the reduction of the consu►no duty to the old scale lied given a new impulse to the trade of the country, and considerable quantities of manufactured goods of all descriptions had within six weeks been sent into the interior, and in some plea sure relieved the heavy stocks on the coast. Neverthe less the market still continued ii► a state of great depres sion, and sales had not improved ; consequently prices in general were very low. A new law had been pub lished in Mexico, according to which all ordinary cotton goods imported, and which came under the Act of pro hibitions, were henceforward to be burnt by the Custom House, the importers being liable not only to the duties, but also to a fine equal to the value of the goods at ti►e places where they were imported. It is not expressed in the law whether it is to take effect immediately, or whe ther its application only begins aster the expiration of the six months usually granted for any alterations in the tariff. On the other hand some reforms in the tariff beneficial to foreign trade are spoken of ; but no one can yet say how far they may be carried out. The Montrose steamer, due the rith inst., with the Peninsula mails, has not yet made her appearance. It is generally supposed an accident has occurred to the ma chinery, and in consequence of the Braganza breaking down on her outward voyage and putting back, there is no steamer due from abroad this week. The weather is now a little more settled, with the wind from the northward, which will give the outward bound an opportunity of clearing the Channel. MEETING OF THE FRIENDS OF A REPEAL OF THE CORN-LAWS. An important meeting composed of those friends of a ' total and immediate Repeal of the Corn-laws, resident in the various metropolitan districts, was held yesterday nt the Office of the Metropolitan Anti-Corn-law Asso ciation, No. 448, West Strand, for the purpose of report ing the progress which the question has made in their respective localities within the last fortnight; George Beacon, Esq., was called to the chair. Mr. MURRAY, of Bethnal-green, apprised the meeting that in his canvassing for signatures to the Repeal of the Bread-tax petition, he discovered that in New York street, Bethnal-green, there was not a single bed, a frightful indication of the state of suffering to which the iniquitous Corn-laws had reduced the people in that populous and industrious district. The petition as a con sequence was most numerously signed in that district. Mr. ANDERSON, of Bishopsgate, stated that out of fourteen Common Councilmen whom his ward returned at the late election, thirteen of them had declared in fa vour of a " total and immediate repeal of the Corn-laws," and were, on that ground, returned. A letter was read from Mr. H. Cove, representing the growing state of the Tottenham Association ; and, that while the clergymen of the Established Church, in their district, declined to sign the petition, those of the Bap tist and Roman Catholic congregations, a►►d also some of the members of the Society of Friends, had signed it, and pledged themselves to do all in their power to further the objects of the Association. The letter suggested the getting up of ' Congregational Petitions," of which 31r. Smith very highly approved, and for that purpose, the waiting o❑ the various district clergymen. A letter was read from Mr. Jeffrey, of Maidstone, stating that a sum of 100/. had been raised by the Methodist chapel con gregation of that town, by a penny subscription, collected by means of cards, having 240 squares marked out on each, one of which was perforated with a pin by each person paying a penny, the perforation answering as a receipt. Letters were also read by Mr. George Taylor, of Uxbridge, from the Rev. Mr. Newland, of Chalfont, and from a correspondent at Beaconsfield, stating the frightful amount of distress in their districts and that the people were so much " under the iron heel of the bread-tax," as to be afraid in many instances, to sign the petition. " Bread-tax receipts," originated by Mr. Cormac, of Hammer smith, were strongly recommended to be brought under the notice of all bodies and persons dispensing charity at the present season. By an arrangement with a baker, the party who receives such tax-ticket is to receive the 41b. loaf; price 8-d., for sd. ; the charitably disposed persons (who can procure the tickets from the Anti- Corn-law Association), paying the additional &Id., which is the landlord's tax on the loaf. The effect will be to show the people the amount for which they would obtain the 41b. loaf at all times but for the landlord's tax. Mr. Herne proposed a plan the reverse of this, namely, that the people should only pay the tax, and that the charitably disposed should pay the value of the bread. A discussion followed, which ended in leaving the ques tion open, both plans having the merit of exposing the landlord's tax on the poor man's loaf. Mr. SYDNEY SMITH reported the rapid progress which the question of repeal has made within the last fortnight, and the meeting then separated, elate with the fact that the working-classes are rapidly uniting in all quarters in the just and desirable objects of the Association. TRANSMISSION OF LETTERS. WEEKLY STATE:eiENT, DEc. 27. THROUGH TIIE CENERAL POST. Four Weeks, ending Dec. 25, 1841 5,335,639 Corresponding period of 1840 4,318,790 Ditto, as nearly as can be given, of 1839 1,682,912 Increase since 1840, on the Four Weeks' Letters 1,019,849 Ditto, 1839, ditto THROUGH THE DISTRICT POST. Four Weeks, ending Dec. 25, 1841 1,785,125 Corresponding period of 1840 1,567,837 Ditto, before the reduction of postage, as nearly as can be given, of 1839 1,021,386 _ _ . _ . Increase since 1840, on the Four Weeks' Letters 217,290 Ditto, 1839, ditto 763,739 COURT CIRCULAR. WINDSOR, MONDAY.—The Queen and Prince Albert took their accustomed walk on the Terrace of the Castle this morning. His Royal Highness Prince Albert afterwards went to Virginia Water, attended by the Earl of Liverpool, Viscount Sydney, Major-General Sir E. Bowater, Col. Bouverie, and Mr. George E. Anson, and enjoyed several hours' shooting. The Belgian Minister and Madame Van de Weyer, the Earl of Sandwich, and the Dean of Hereford hare taken their departure from the Castle. The Chevalier Bunsen, the Prussian Minister, the Earl of Aberdeen, and Lord and Lady Stanley, arrived at the Castle to-day on a visit to her Majesty. Her Majesty honoured Mr. Partridge with a sitting for a full length portrait to-day. The Earl of Aberdeen left town yesterday afternoon, on a visit to her Majesty at Windsor Castle. Sir James Graham left town yesterday for Dorchester. Lord and Lady Stanley left their residence in St. James's-square, at four o'clock yesterday afternoon, on a visit to her Majesty at Windsor Castle. Despatches from the Governor of Barbadoes were re ceived) esterday at the Colonial-office. Despatches were received from the Governors of the other West India Colonies. SPORTING INTELLIGENCE. TATTERSALL'S—YESTERDAY. A thin attendance and very little doing, too little, in deed, to require more than a list of the prices : THE DERBY. 7 to 2 agst Scott's lot S to 1 agst Colonel Anson's Attila—taken and off. 9 to 1 agst Colonel Peel's Chatham—take 10 to 1 25 to 1 agst Mr. Dixon's Ballinkeele—taken and off. 33 to 1 agst Mr. Wreford's Wiseacre—taken 50 to 1 agst Duke of Grafton's Canadian 50 to 1 agst Mr. Ramshay's Moss Trooper—taken 50 to 1 agst Mr. Goodman's The Rover—taken 1000 to 15 agst Mr. Herbert's Nessus—taken and off. 660 to 10 each agst Duke of Grafton's Canadian and Lord Jersey's Brother to Phoenix in one bet—taken THE OARS. 14 to 1 agst Mr. Bowes's Lass of Linton—taken 30 to 1 agst Mr. Vansittart's Raffle—taken HUNTING APPOINTMENTS. The Middleton harriers will meet on Friday, at Bess Bottom-11. The N. F. H. on Thursday, at Roche Court; Saturday, at Ashley Lodge-10i. The Hambledon hds. Fri., at Owselbury The Brecon hounds, Friday, at Talwen-10. The Carmarthen hounds, Saturday, at Foxhole-10. The Hursley hounds on Friday, at Tanner's Pond. The H. H. Thurs. Lannard Farm; Sat. Herriard-10i, Mr. Morgan's (Ruprra) hounds on Thursday, at PiecOrner ; Saturday, at Castletown-101. The Cowbridge harriers on Thursday, at the Three Ashes ; Saturday, at Clementine Gate-10i. Tickharualiouncis, Thursday, Tong Mills-10k. Cambridgeshire hounds, Fri., Downing Arms-10A. Puckeridge hounds, Saturday, Great Minden. Mr. Watson's lids., Sat., Morpeth Quarry Bank-111. Allendale hounds, Saturday, Park Gates-9 Staley hounds, Saturday, Bog Hall Plantation-9. Haydon hounds, Saturday, Kennel-9. Berkshire hounds, Friday, Foxcomb Hill-101. Prudhoe and Derwent hounds, Saturday, Kennel-10 Whitefield harriers, Thursday, Troy Mill-10. Odiham liar., Thur., Clay Hatch Clump of Firs-104. Duke of Grafton's hounds, Friday, Wappenham-104. Sir W. Carew's hounds Saturday, Stover Lodge. The F. B. hds., Sat., Punch Bowl Inn, near Trelis sick-10. Sir John Cope's hds. Friday, at Mortimer ; Saturday, at Lodden-bridge-10i. The Pembrokeshire lids. Thurs., Blackpool Mill-10i. The Tivyside hds. Thurs., Pontersally Bridge-10. Tae Torquay harriers, Thurs., Lumitor Berry. The Boroughbridge harrs. Fri., Clot House -10. The Marquis of Hastings's lids. Sat., Draycott-101 The Duke of Beaufort's lids. Thurs., Dyrham Park.' Lord Portman's hounds Friday, Milton Park. The Vine lids. Thurs., Manydown Park ; Sat., Pine Appk. _ The Tytherley hars. Friday, Sutton Seotney Road. FATAL ACCIDENT.—This morning a young man of the name of Wilkes, a painter, who resided in Princzs-street, Leicester-square, was drowned in the river near Battersea-bridge. The deceased and three companions had been on a visit to a friend at Put ney, and were on their return a little before eight o'clock, when one of the party let his oar fall out of the rowlock into the water. Wilkes, who was rather the worse for drink at the time, leaned over the side of the boat - to endeavour to reach the oar, and unfortunately was dross m ed. One of his companions laid hold of his foot as sank, but his shoe came oft' in his hand, otherwise Ire might have been saved. GREAT WESTERN RAILWAY ACCIDENT. We have waited, before pronouncing an opinion upon this dreadful event, for the result of the inquest held upo n the bodies of the sufferers ; and this we wish we could say, tbat after perusing the evidence, it was pos sible to exculpate the Directors of the Great Western Railw a y C om p an y fro m res p ons ibility f or w h at has hap. pened. It may be true that no regulations which can be devised would provide absolutely against such oc currences as the sudden slipping of an embankment ; but in this instance it is only too clear that the proba bility of such an event might have been foresee, and ought to have led to precautions, which were not adopted. The verdict, therefore, of the jury, which imposed upon the engine and tender a deodand of 1,0001., was a most proper one ; and we trust it may have a salutary effect in checking similar negligence for the future. That the embankment in the Sonning-hill cutting, et or near the place where it fell, had been observed for some time previous to be in a dangerous state, so as to attract the observation of persons living in the neighbourhood—that some of those persons had ex pressed their apprehensions to servants of the Rail way Company—that partial slips had taken place, and had been recently patched up under the direction of one of the assistant engineers, were facts fully esta blished by the evidence upon the inquest. So much as this was admitted by Mr. Berthram, the assistant engineer, himself ; and although this witness and his foreman deposed " that everything was done which was thought necessary," and were " quite sure" that the particular slip which led to the fatal catastrophe was " new, and without any pre vious indication of danger," we have to oppose to this testimony that of Mr. Gosling, jun., who perceived the ground bulging, where it afterwards fell in, on the very day before the accident happened. Under these circumstances, it is impossible for a reasonable man to doubt, that the spot was known to be unsafe, and that the Company's servants had warning amply sufficient to put them upon their guard against the impending evil. The very least which they should have done was to keep a watchman constantly stationed in the immediate neighbourhood, ready to exhibit the cus tomary signal of danger upon a moment's notice. Instead of which, the watchman who had been placed there while the first slip continued, was re moved as soon as it was patched up, without the least regard to the probability that the same causes might, in the existing state of the weather, produce another. At the fatal moment, this watchman was stationed half a mile off from the critical point, and, instead of being of service, held up the signal of safety, and unconsciously lured on the unhappy travel lers to their destruction. We may observe here, that although some evidence (of an unsatisfactory nature) was adduced by the Rail way Company, with a view to show that the fall of the embankment took place at the moment when the train was passing, and under circumstances against which the presence of a watchman could have afforded no security, the contrary was distinctly proved by the per son who, of all others, must have had the best oppor tunities of judging. We refer to the statement of the engine -driver, Thomas Reynolds, who deposed that " the engine ran into some loose earth which had slipped from the side of the cutting on to the rails." The accident, therefore, being itself mainly owing to the negligence of the Company's servants in not setting and keeping a proper watch, or in not paying proper attention to the warnings which they received of the dangerous state of the cutting, we must add to this, that if any regard bad been shown to the safety of the passengers in the mode of arranging the position of the trucks oy which they were conveyed, the lives which have been sacrificed would probably have been saved. These trucks were placed in the front of the train, next to the tender, with all the luggage-trucks behind them--a pcsition at once the most uncomfortable, being directly exposed to the sparks and cinders thrown out by the engine, and the most dan gerous. If an engine come into collision with any object in front of it, or run over an embankment or he brought to a sudden check, in all these cases the first carriages are certain to be destroyed, as at once participating in the immediate shock, and having the rest of the train violently forced up upon them. This has been the history of almost every serious acci dent which has yet taken place ; insomuch that it is now a matter of experience that the risk of fatal con sequences by railway is almost entirely confined to the carriages next to the engine ; nod suggestions have been made (with which we hope the Legislature will compel the Railway Companies to comply) to the effect that passengers should in no instance travel without, at least one empty carriage between themselves and the tender. The Great Western Railway Company, however, consider that no post is so fit for the humble hard-working class who travel by their luggage trains as the post of danger, thinking (it would almost seem) that the safety of the luggage is of more importance than the lives of stone-masons and waggoners.—Times. BANKRUPTCY-(THIS DAY.) HILL AND BROOK'S BANKRUPTCY. The final examination of these bankrupts, whose case is regarded with the greatest curiosity and interest in the city, was to have taken place this day before Mr. Com missioner Evans ; but, in consequence of the absence of the official assignee, it was postponed to the 26th Jan. BENTLEY'S MISCELLANY FOR JANUARY, 1842.—This mirth-dispensing periodical begins the new year in great force. Its literary, as well as picolrial, contents, are indeed more than usually attractive. The illustrations, which are by George Cruikshank, Leech, Alfred Crowquill, and Cruikshank the younger, are no less than seventeen I Some of them exquisitely d ro ll. Among the contributors we have Tom Ingoldsby, with a Legend ; Father Prout, with " The Mistletoe, a Dithy ramb," a composition of which any poet might be justly proud. " The Razed House," a story of great power and pathos; with a fine illustration from a design by Mr. Rippingille. Everybody must read this story ; it places before our eyes brigand life in Italy in a manner the most graphic we ever recollect to have read. " Save me from my Friends" would make an admirable farce. " Welsh Rabbits," by Dr. Maginn, is a very well-told story, which we commend to the .consideration of all lovers of what are called " good things" at this festive season. Whitehead's capital story, " Richard Savage," deepens in interest as it proceeds Poor Ludlow's death, and the last scene of Savage with his mother, are very powerfully written. Alfred Crowquill presents us with a very droll paper on smoking, called " Twelve Vo lumes of Smoke, with most laughable " heads and tails." Our Wiltshire friends will be much delighted with the account of " Dick Defter." " The' Comicalities of th& Feelings" are very comically illustrated. The number containr many more able articles ; but we can only find space to draw attention to the " Country Squire," by Grig ; " The Poet at Home," :by Old Scratch ; " Ad ventures in India ;" " French Cookery," &c. &c. This is undoubtedly one of the best numbers of " Bentley's Miscellany" which has yet appeared. STEAM v. SAILS.—The Toulonnais of the 2lsti last publishes a long article, in which it proves the supertterity of a steam navy over a fleet of sailing vessels, and calls on the Government to lose no time in arming a considerable number of steamers of 450-horse power and upwards. " This," it says, "is a question of life or death for our maritime power, and we cannot but deplore every instant lost in realizing that object. The superio rity of steam is so incontestable, and it is so clear for us that a float of 30 steamers of 500-horse power, and 20 of a lesser force, carrying an army of 20,000 u:en, would com mand the coasts of the Mediterranean, in spite of all the fleets of Europe, that we scarcely conceive it to be neces sary to adduce reasons to prove it." The Toulonnais then contends that the expedition of Bonaparte against Egypt would have produced a very different result, if the expeditionary army had been seconded by a naval army of steamers. " France," it says, " would be still in possession of Egypt, and the East would not beat present on the eve of a revolution." The Toulon Journal after wards proceeds to 'demonstrate with what ease the trade of Great Britain could be destroyed in the Mediterra nean, were the Government to adopt the plan it proposed; and concludes by showing the immense advantages afforded by steam, in making an invasion on the enemy's shores, or in defending one's own coasts. THE ESCAPE OF RAPALLO.--WC understand that this individual was originally under the impression that after his release from Newgate no other steps ld t b , e taken against him with regard to the forg ed . Focc bins. Having, however, some doubt of his from the risk of further molestation, and feeling desirous ' to be upon the safe side7h e hastened, on the very even ing of his discharge, to the private residence of a certain eminent counsel ; and, after a consultation, he lost no time in getting on board a Boulogne steam-boat. lied he been tried and acquitted be could not, of course, have been again indicted for the same offence ; but as the proceedings went no further than an examination before the Police Magistrates, the opportunity o f clear ing his character (if h e can) by a trial at t h e Old Bailey is still open to hi m , s h ould he feel dispose d t o return to take advantage of it. T se h u e m n y u e m st b e e r r da o , f l p ra e s rsons who visited the British Museum teic Museum larger number th an on na ) •y " Box l4 in 7 g 6 - 3 day b ' e ' in s g ine a e has been o p en to the public on those days. On the same day last . year, Christmas -day falling on Friday, and the the number of visitors it was 9,031. In , 3, l l ,a u s se 2 l: s m 3l b , eing closed onwShaindiaoyn,day n hour aftero'clock • ten yes terday of seven Hint red persons were increased during the day. The file first three-quarters of a teTday morning radon the 3 Museum were under the di rectiont who gra o d u o a f li polfee arrangeni rolicbeeyn-caonstable Reason, A 131, who was yes • sergeant and ten constables, of the o d f in h g o t l h id is ay large lk c s o , n b c o o t ur u s l e ro o o f t o r day assi s tedo of consis persons, • , r refused admission on the grounds of intoxication ; ti N ne o - tw cl i i t i h efl st y an a "; :d - q, ma y be added, that not a single robbery was corn same division: ; t d on account of the vigilance of the police, who timely discovered three of th e swell mob, who were im mediately removed. Not a single instance of damage occurred during the day ROYAL POLYTECHNIC INSTITUTION.--Up wards of three thousand five hundred persons visited this popular place of amusement yesterday, one of the principal attractions being the new dissolving views, which were exhibited nine or ten times during the morn ing and evening. The illuminated clock in front of the institution, which is worked by electricity, went yester day for the first time. EVENING SUN AN OLD SMUGGLER. Yesterday a man, who gave the name of John Smith, was brought before Mr. Ballantyne, at the Thames Po lice Court, charged on a Custom-house information. It appeared that on Friday morning last a Custom house efficer,": named William Taylor, was stationed on board the City of Edinburgh steam-ship, lying off St. Katherine's, which arrived from Harnburgh on the pre ceding night, when the prisoner came to the gangway and was about to pass out. He was interrogated by Taylor, who asked him if he had anything liable to duty about him. The prisoner replied that he bad not, and passed down the ladder into a boat alongside. The officer then observed that he appeared very bulky, and called him back. The prisoner returned to the vessel with much reluctance, and on being overhauled in the cabin 51bs. of foreign-inenufactured tobacco and 41bs. of cigars were taken from his person. The whole was very ingeniously concealed round his legs and waist. He en treated of the revenue officer not to take any notice o the discovery, as he had a sick wife and dying child at home. Taylor said he must do his duty, and conveyed the prisoner to this Court. He had scarcely entered it when, taking advantage of the officer speaking to a person, he started off at full speed down the passage into the street, passing several policemen and others in waiting. He was immediately pursued by Taylor, who called out " Stop thief," but on reaching the end of the alley, in descending the steps he stumbled and fell head foremost into the street. He received a severe wound on the forehead, and was quite disabled by the fall. A Thames-police constable, named Harry Hambrook, took up the pursuit, and gave chase to the prisoner along High street, Wapping, for some distance. Several persons tried to stop him, but without success. He knocked down one man and kicked two others. Hambrook, who is an active young fellow, chased him over wharfs and barges for'some time, and ultimate ly gained upon him, when the fellow darted into the warehouse of Mr. Kimm, a mast and block maker, and ran up stairs into a parlour, where several females were seated, who were greatly alarmed at the sudden appearance of the intruder, and screamed aloud. Their screams guided Hambrook to the apart ment, and he fell apt) the prisoner, secured him, and brought him back to the office. The prisoner, in defence, said he was not off the vessel when the officer called him back, indeed he was only two stairs down the gangway-ladder, and had there fore net unshipped the tobacco. Mr. BALLANTINE believed tho defendant was an old smuggler, and he sentenced him to pay a fine of 1001. to the Queen, and be imprisoned till it was paid. EXTENSIVE FORGERIES AT BRISTOL.-- \' ithin the last fortnight forgeries to a large amoua have been committed in the city of Bristol. One of them was upon the Custom-house, and although every effort has been used to capture the delinquent he has not yet been taken into custody. In another ease, it appears that on or about the ;th inst., Edward Charles Clarke, ship chandler, late in the employ of Messrs. Filter, and Co. Bristol, absconded from the city in question, and it was then ascertained that he had by means of forged signatures ne gotiated bills purporting to be of the value of several hundred pounds. A warrant having been issued for his apprehension, Mr. Bosworth, inspector of the Bristol police, with Inspector Tedman, have exerted themselves to the utmost with the view of finding the forger, who is described as being a well-dressed lima, about 26 years of age. They ascertained that on Friday last a man, an swering exactly his description, dined at a public-house at Harrow, and there is reason to believe that. he is about to make hil; way to sonic foreign port.—Bath Herald. PUSEYISM AT ABERYSTWITH.—On Thurs day, the Bishop of St. David's consecrated the New Church at Cwzri. Mr. Williams, one of the candidates f'or the .I.kitly Professorship at Oxford, preached in the morning, and Mr. Hughes, the vicar of Llanbadarn tan•r, is the evening. A large party, including the Earl and Countess of Lisburne, Sir J. Edwards, &c., dined at Cwm. Dissatisfaction is felt by several of the sub scribers as to the doctrines intended to he advanced in this church ; but we are informed that those subscribers whose apprehension of the introduction of Pusevisin ren ders them dissatisfied, are offered to have their money returned, if demanded.--Carnarvon ENORMOUS FIG TREE.—The grand lion of Roscoff, which we were told we must visit before we walked back to St. Pol, is an enormous fig tree. It is situated in the gardens of the ci-devunt con vent of Cordeliers, and is, in truth, worth seeing. The trunk is not particularly large, but the circum rerence of the circle overshadowed by its boughs is sixty-seven paces ! There are sixty stout pieces of timber to prop up the immense mass of intertwined branches. The yearly produce is very large: ; and every year it is cut, to prevent it spreading over the whule garden.— Trollope's Summer in Brittany. REMARKABLE STORM OF HAIL AND LIGHTNING.—An esteemed correspondent wishes us to put on record some particulars of a storm of thunder and lightning, accompanied by hail, that passed over the peninsula of Lleyn, on the morning of the I;th inst. in its passage over the park at Madryn it was of a most awful and alarming character, and did immense damage to a long range of glass-houses, pits and frames, that are used for forcing, besides putting in imminent danger a large collection of valuable plants. Some of the hailstones, we are assured, measured no less than three inches, and one-eighth round the base—all of them being of a conical shape. Hail of the same magnitude and quantity has not fallen in that part of the country within the memory of the present age.—Carnarvon Herald. EMIGRATION TO GUIANA.—The Venezuela has returned, after a six weeks' cruise among the islands, bringing with her only , twenty-five immigrants ! This small success was not occasioned by any indisposition to emigrate on the part of 'labourers ; that disposition pre vails to a very great extent among the inhabitants of the Leeward Islands, and many first-rate hands readily put down their names for Demerara. But the Island plan ters stuck at no means to defeat their intentions, princi pally availing themselves of a law which seems pretty general in ahe islands, by which captains of vessels are obliged to give bonds that they w ill ta k e awa y no p ersons in debt.—G uiana Gazette, Nov. 9. UNION AND COMPULSION.—It is, indeed, high time to. force the men, whoever they are, who are at the head of affairs, to abandon that selfish legislation which studies only for class interests, and enact laws which shall have for their object the common good of all orders of society. This will soon be effected, if the middle classes will repair the error to which we have been alluding, and, retracing their steps, once more form that compact and firm alliance with the working-classes whence sprung the resistless strength which carried the Reform Bill by acclamation. " The worthy dealers in cotton and woollen hosen," and also the importers of sugar, rum, timber, sumach, and logwood, may depend upon one thing, namely, that they will never obtain anything from the /oec of the Tory aristocracy. They ar e o f t h at "kind of cattle" that will (r nothingive except wh a t th ey cannot withhold. With the Morning Post they believe, that they have a monopoly of "the business of legisla tion," and their idea is, that this business is to be carried on entirely on their own account. This idea can only be disturbed by a little gentle comp ulsion.--Liverpool Agien. " Alas, we have got perhaps a still harder thing to settle than the Divine Right of Kings, the Divine Hight of Squires. Did a God make this land of Britain, and give it to us all, that we might live there by honest. a hour ; or did the Squires make it, and,—shut to the voice of any God, open only to a DeVil's voice in this matter, —decide on giving it to themselves alone ? This is now the sad question and ' divine right' we, in this unfortu nate century, have gut. to settle! For there is no end of settlements ; ther e never will be an end ; the best settlement is but a temporary, part i a l - one. Truly, all manner of r i g h ts, and a dj ustmen ts of work and wages, here beloW, d o verge g radually into error, into unbearable error, as the time-flood bears us many a right , of the time-vovage to have onward ; and a duty done and divine enough, which used to be turns out, in a new lati tudegrown now altogether un divine ! Turns ()Zit,- to the fatal hour and necessity for overhaulin g for some con siderable while past, an inanity, a conventionality, hol which, if it will still hol low simulacrum - of use-and•want ; it arrives, — to have been , assert itself as a divine right,' having now no divine duty to do, becomes a diabolic wrong ; and, by soft means or ' ' by sh ar p; h a s to he sent travelling out of this world ! Alas, intolerabilines do now again in this new cen turyery to H ea ven; —or wtrse, do not cry, but in low was no ear for them, and in earth no ear. ' Eleven wide-spread moan, lie as perishing, as if in heaven there pence in this world ; and in the n ex t t • .11:0 halfpenny a week And • sliding scales,' and endless wrigglings a"n-odrii wres tlings over mere Corn-laws:' a governing class, ‘ hired (it appears) at the rate of some fifty millions a y e ar, which not only makes no attempt at governing, b ut wi ll not, by any consideration, passionate entreaty, or .1 . even menace as yet, be persuaded to eat its victual s , shoot its partridges, and not strangle out the general life by nils-governing ! It cannot and it will not come to good."—Mr. Carlyk. FATAL ACCIDENT.—An alarming and fatal accident occurred at Edgbaston-pool on Sunday morn ing. A number of- boys had assembled for the purpose of skating. Owing to the sudden thaw which took place on Friday and Saturday, the greater part of the ice was covered with water. It was again frozen over, but when the boys ventured upon it, owing to the rotten state of the ice, it separated, and eight or nine of them were instantly immersed in the water. All except one succeeded in getting upon certain portions of the ice, and eventually reached the shore ; but we arv er ry to say that one unfortunate fellow was unavoidably drowned in sight of thirty or forty persons, who stood near the spot without the means of rescuing him. Interest of money was twopence per week for 205., in 1260, and 46 per cent. in 13U7, and reduced from ten to eight per cent. in 1624 ; it was reduced by the Rump Parliament to six per cent., and was confirmed at the Restoration at five per cent. in 1714, It has since then undergone other changes, and a few years ago gave rise to many debates in the House of Commons, the late Serjeant Onstow, and other members, contending that money, like every other commodity, should be suffered to find its own level as the best means of preventing usury; this principle to a certain extent is recognised and legal at present ERRATUM.—In the sixth paiftgraph of the first leader yesterday, towards the end, the words "as compared to the present scheme," should be "as com pared to Mr. Christopher's delusive pretences." EAST INDIA ROUSE.--We understand the Chairman and Deputy-Chairman of the East India Com pany have selected Weelies to execute the statue of the Marquis Wellesley, which was voted by the Court some time since to be placed in their Court-room. the for l jes Jed sae pre 'lt prd ure of