The Express.
London, England, 1848-01-08 00:00:00

THE EXPRESS SATURDAY EVENING, JANUARY 8, 1848.

the landlord of the White Hone, Poplar, and on the 29th
December, about eleven o'clock in the morning, the prisoner
who was at the time slightly intoxicated, went into the
house accompanied byanother man, whom he asked what he
would have to drink. After having drunk something, the
other man left the house, and the prisoner was about to fol-
low him, when the barman asked for payment of the liquor.
and the prisoner threw down a penny for some beer
man
which
be had drunk, but refused to pay for what the other
had had. Mr. Hodges bearing en altercation, and being in-
formed of the nature of it, laid his band gently on the prisoner's
collar, and said that ho must not play thee* tricks there, that
he should not allow him to leave until he bad paid for the
liquor he ordered. At this moment the prosecuord," tor he
and ard his
daughter exclaim "Oh, father, he has got a sw a
most at the same moment he felt a stab in his thigh. The
prosecutor then laid hold of • chair to defend himself, and
the barman wrenched the instrument, which turned out to
turned
a sword-stick, from the prisoner. The injury
turned out to he of • very slight character.—
Mr. Baldwin,
on behalf of the prisoner, submitted that the evidence was
insufficient to justify the jury in finding the prisoner guilty
of felony, even if they should be of opinion that an assault
had been committed. It was clear that the prisoner disputed
his liability to the payment of the debt, and if he were not
liable, the landlord was not justified in laying hands
upon him ; and if he did so illegally, the pri-
soner was justified in defending himself.—Witnesses
were called who gave the prisoner • good cha-
racter.—Mr Justice Metric, in leaving the case to the jury,
mid he did not think the question of law alluded to by the
counsel for the prisoner arose in this ease. He did not feel
himself required to decide the question, whether a landlord
was justified in detaining a guest who refused to poy his
reckoning ; but it was quite clear that the mere laying of a
hand upon the collar of another was not a sufficient justifiers-
Bon for his making use of such a deadly weapon as a sword-
stick in retaliation. He did not think, however, in this
case, that the prisoner ought to be convicted of felony,
because it was evident that he might have inflicted much
more serious injury upon the prosecutor if be had been so
minded.—The jury found the prisoner guilty of • common
assault, and he was 'sentenced tobe imprisoned forage month.

,
NEW COURT.—Before the lteconler, and Aldermen Sidney and
Johnson. I
AN INCORILIGINLE YOUNG TNIEF.—J. Fac,:xell, an im-
pudent looking boy of 12, was placed at the bar to receive
Judgment, he having pleaded guilty to stealing 11. 7e. and a I
pair of trowsers, the property of hie father. Flom statements
made to the court by. the prosecutor and the puller officers, it
appeared that the prisoner, although so young, was as notori-
ous a thief and rogue as any in the metropolis. Ile had been
convicted four times—Once of highway robbery—but he
had always been dealt mercifully with on account
of his tender age. For the last two years
he had plundered -his parents to such an extent
that he had brought them to the verge of ruin. In
the present instance, the father had deposited his trowsers for
safety from the prisoner under his pillow, but the prisoner
was on the alert, and in the middle of the night he cautiously
stole to the bedside, and succeeded in withdrawing the trovr.
sees. However, he awoke his father, and finding ho was ilk-
tected, he ran down stairs and got lato the street. The
prosecutor followed, and the prisoner was captured by •
police-othcer. The prolocutor seemed overwhilmed at the
position he was in. lie said the prisoner had frequently de-
clared he would lead no life but that of a thief, and was
resolved to gratify his pilfering propensities to the utmost.—
The Recorder said the prisoner's sge would nut avail him
this time. Such an amount of depravity in one so young he
had never before seen. Hard labour, solitary confinement,
whipping, and all kinds of punishment had been applied to
, him without effect, so he must now go out of the country.
; The sentence was that he be transported beyond the seas for
ten years.

POLICE. v _ESTERDAT.
MANSION-HOUSE.—RaILWAYRonIiEItICS.—J.Cuntes
was re-examined, charged with having committed several
railroad rohheries.—Mr. J. B. Lear mid: On the 18th of
December I was a passenger from the Paddington station of
the Great Western Railroad to Cheltenham in tho parlia-
mentary train. I had a carpet bag containing a auit of
clothes, boots, and a number of banks. Ido not remember
having seen the prisoner in the train. The last place in
which I saw the bag was Swindon, where it wan in the pos-
session of one of the company's servant... On arriving at
Cheltenham it could not be found. On the following Tues-
day I saw the bag at the Cheltenham station. It was tied
differently from what it was when I set out, and the clothes
were missing. The other property was in it.—J. Frazer,
one of thel company's men at Swindon, mid: On the 18th
of December I found the bag, which was identified by Mr.
Lear, in a corner at Swindon.—Hardwick, metropolitan
policeman, who apprehended the prisoner at Cheltenham
with stolen property in his possession, and found stolen
property in his lodgings in town, produced a suit of clothes
and boots, which the prisoner said at Cheltenham were his
property, and which Mr. Lear identified as having been
stolen from his bag.—ln the next, which was tke fifth case
against the prisoner, Captain Spong. R.N., said, on
the 11th of December he went from Blackwell to
Gravesend in a steamer, having two carpet bags, which
disappeared on the way. They contained a quantity of
clothes, and some articles of jewellery. The clothes were
all marked with his name.—Hardwick produced several
articles of dress, &e., some of which had been found by him
at the prisoner's dwellings in London and Cheltenham. Ile
also produced a number of duplicates which he had found
in the prisoner's trunk, and the pawnbroker produced the
goods pawned. C.,pt. Spong immediately identified the pro-
perty As part of the contents of the stolen bags.—The pri-
soner wished to be remanded for another week. Mr.
Justins also wished for a remand, as he could prove several
other robberies committed by the prisoner, who had been •
constant raitwey miscue. Ni nn,is
but he was anxious not to add to the expense • of prosecu-
tion, and therefore called for • committal.—The 'prisoner
was accordingly committed.
GUILDIIALL.—A ROMANCE or REAL LlFE.—Anaelin
Imes attended to learn the result of an application she had
made three days before, to be assisted from the charity-box.
Her story was rather a romantic one. She was stolen from
a boarding-school when she was 1.1 years of age, and mar-
ried to a young man who worked at plumbing and painting.
They were separated on the second day after their marring.,
and her husband was prosecuted at the sessions for enticing
her away, she having some pecuniary expectations. Upon
his liberation he enlisted for a soldier, and had recently been
discharged, after serving seven years; but, as he was a
drunken fellow, she determined never to renew her ac-
quaintance with him. She was taught straw-bonnet making.
by which she partly maintained herself, and on Sun•
day last she arrived from York in search of an uncle,
named Robert Newland, a bachelor, and with the view of
maintaining herself by business. She had no idea that in
London the wages in the trade were so low that few could
sustain themselves independently, but that generally the
young women were lodged and assisted by their parents or
relatives. Her uncle she had heard lived in Marylelione,
but she had no other address, and she had not the good for-
tune to find him. lier inquiries for work were unavailing,
and her application to the magistrate was that he would use
his influence in obtaining work for her as a straw bonnet-
, maker, and grant her a little assistance in the interim, fisher
means were quite exhausted—Sir C. Marshall interrogated
her at some length, and finding she had a local knowledge
of York, and that hitherto she had been able to support her-
' self in respectability amongst those who knew her, whilst in
London she had nota single relative or acquaintance to help her,
thought the beet thing he could do for her was to send her
back to York, first ascertaining that she was known there
and would be received. lie therefore caused a letter of in-
I quiry to be addressed to the superintendent of the police of
York, and gave the young woman a trifle front the poor-
box to sustain herself in the interim.—Sir Chapman Mu- I
shall having received a satisfactory reply yesterday, directed
her fare to be paid back to York, and dismissed her with a
few words of kind admonition.
BOW STREET.—Joseret An AND TIM POST-OFFICE.
—A few days back a summons was served on the notorious
Joseph Ady, at the instance of the Post-office Authorities,
to show cause why he refused to pay them the an of
IV. 9s. 2d., being the amount of postage on returned letters
written by him to his numerous correspondents, residing in
all parts of the world. Mr. Peacock, solicitor to the
Post-office, at the hour appointed for the case to be again
brought forward, handed in to tho chief clerk the following
communication :
Bear sir,—Josepb Ady has this morning thought fit to pay the
2,1., with 2s. for the summons, and it will not therefore be
n, cessary to trouble the magistrate upon the subject. The returned
letters, on which the amount la question was due, were 1,16.1 in
number. lam now about to van upon 11. m to pay the postage of
I,Szni more, amounting to 131. 135., which, I think, sill prevent him
in future sensing his unpaid letters by the pos..—lours, tke.,

Pucoce.
WOitSIIIP-STREET.—STRALISIO • FLORAE ANT) GIG.
—J. Barnard, a town traveller in the service of Mr. Miller,
a wholesale pickle manufacturer, was charged with having
stolen a horse and gig, the property of his employer. The
prosecutor stated that the prisoner, who was in his service,
used a horse and chaise to perform his journeys. On Wed-
nesday morning, the prisoner proceeded as usual upon his
rounds, but failed to return at night ; and on the following
day witness received a letter from him, intimating that on
leaving the shop of a customer in Great James-street, he
found that the horse and gig, which he had left unattended
at the door, had disappeared; and, although he had made dili-
gent inquiries at the green yard and adjacent station-houses,
he had been unable to obtain any tidings of it. The prisoner
wan absent It. til that morning, when he entered the ware-
house and inquired whether the horse and chaise had arrived,
as they had been driven away by a friend of his named
Taverner, who had been previously riding with him, and
had since assured him that he had paid a man half-a-crown
to take them home. This statement of the prisoner being at
direct variance with the contents of his letter, and his
conduct in other respects far from satisfactory, he was
given into custody. llurchell, 11. 33, sated that in the sta-
tion the prisoner said that he had been drinking at a public-
house with his friend Taverner, who gave him the slip and
got into the chaise, in which he drove off without his know-
ledge or sanction.—The prisoner denied having said that he
had entered a public-house.—The prosecutor, in answer to
this stated that he had ascertained beyond doubt that no
information whatever had been given at either of the station-
houses, and that the prisoner's statement was an entire fabri-
cation.—'f he prisoner was remanded.
RAILWAY ROIIIIEIIY. —B. Spraggs was charged with
having stolen a portmanteau (coin the Shoreditch terminus
of the Eastern Counties Railway.—As Kennaway, one of the
company's porters, war on the platform on the preceding
evening, shortly after the arrival of the Norwich train, he saw
the prisoner, whom he noticed loitering about in a suspicious
manner for some time previously, suddenly enter a third-
clue carriage, from which he took a portmanteau, and
walked away with it. Witness questioned him, and the
prissier said that it had been placed under his care by the
person who travelled with hint in the same train. The pri-
soner wan then taken into th e office of the inspector, who
was in waiting in plain clothes, and the prisoner having in-
cantioudy pointed him out as the person who had given him

the portmanteau, be was at once given into custody. A tele-
grephic communication was subsequently received from the
March station of the Peterborough branch, statiag that the
portmanteau bad been accidentally loft in the carriage by a
gentleman named Copeland, and directing its transmission
to that plain. Tho prisoner repeated his former statement,
that belted been employed to convey the portmanteau to an
omnibus by a fellow passenger, who was an entire stranger
to him, and was remanded.
MARYLEBONE.—Mr. Long acknowledged the receipt
of Si. from E. P., for the poor box.
LAMBETH. —PAROCHIAL REOCT.ATIONI.—Two females
residing in Bennett's-court, Lambeth, applied to Mr. Elliott
for his interference aid assistance, under the following cir-
cumstances. They stated that since Christmas-day last the
body of a child belonging to their sister was deposited in a
small room in which they and their five children lived, and
had become so offensive that they could scarcely remain in
the room, and the presence of the corpse was highly dan-
gerous to their health. They had applied to the nfficere of
the parishes of Lambeth and Newington, who sent them to
the Rev. Mr. Lane. 'that gentleman sent them to the sexton ;
and after being sent about from one to the other, they were
told that the child could not bo buried in the free ground
until it was removed from the coffin it was at present in, and
deposited in ono supplied by the parish. Their sister, they
added, had paid an undertaker eight shillings off the price
of the coffin, and this caused the refusal to bury the body.
—Mr. Elliott directed one of the summoning officers to
accompany the complainants to the overseers of Lambeth,
and to request that the body might be buried.
SOUTHWARIL—TREATMENT OP PRISONERA IN Tun
Quelzre's Barrcit.—Mrs. Cobbett, the wife of Mr. W. Cob-
bett, an inmate of the Queen's Bench, handed in the follow-
ing letter from her husband, addressed to the magistrate :
Queen's ifti.ll, JIM. 7, 1840.—Sir,—I bee your attendance at the
prison, to take my deposition against the keeper, who Is assaulting
nie by wilfully putting snit keeping me in an unwholesome visor
with iron bars to the window, as a remanded debtor,,nilof ciao
No. 1, and subject to the penalties of the act 5 Vie. Nes. 2, e. 22, 5.17,
although have never been remanded. Notwithstanding
Wednesday, Mr.
Justice Mlelly on Monday, and klr. Baron Platt, or,
decided it smelliest:ll, he (the keeper) persists. Their lordsiiiire Mew
of It was not an iniprisonment in a different prison from which they
could deliver toe as for an maim but on assault and ill-treatment in
the same prison. The keeper will continue committing the assault
with perfect impunity for a long time, if I live, unless your worship
issues your warrant. I beg to Mate expressle that I was removed
here in fear of my life if I had revisted.—(Signed) W, roolrer.
Mrs. Cobbett then addressed the magistrate at some
length on the subject, urging that the conduct pursued
towards her husband in the shove prison might produce
fatal consequences if immediate steps were not adopted to
have him removed from the place where he had been locked
up by the keeper's orders, which she /Ms convinced
were illegal. She had called upon some of the judges, to
represent the circumstances, and they recommended an
action against the keeper, but she thought such a proceeding
would be useless owing to the length of time it might be
pending, and that her husband would be forced to remain
in the place where he was locked up until it terminated.
She was then advised to apply to a police magistrate ; and
she added, that all she required wan to obtain tier husband's
release, as he was illegally arrested, and the keeper was per-
fectly aware of it.—Mr. Seeker recommended the applicant
to apply at the Resale:ins for an indictment, if there were
grounds for such a proceeding. The applicant said her hus-
band preferred bringing the matter immediately under the
notice of the magistrate.—Mr. Seeker said his duties at that
court would not enable him to attend the prison, but that
he hail no objection to hear Mr. Cobbett's complaint of
alleged assault and illtreatment if lie appeared there by
habene.—The applicant thanked the ningistrate and retired.
THAMES.—REFUSINO TO OIVE CPA SEAMAN'S CERTI-
FICATE AND REOUITER TICKET.—Mr. IV. Robinson, the
master of the chip Mary Graham, from Calcutta, appeared
to answer two informations preferred by Mr. George Pelson,
the chief mate of the same vessel, fir refusing to deliver to
him his certificate of service and discharge, together with
hie register ticket, by which the defendant bad incurred a
penalty of 51. ; and the. second, for refusing, on the day
of Mr. Poison's discharge. to pay him one-fourth of
the balance due to him, 91. 95., and for refusing the pay-
ment of his wages for ten days after he was discharged, by
which the defendant had incurred a penalty of two days'
pay for each day not exceeding ten days during which pay-
ment was delayed.—The facts establishing each ease Were
clearly made out, and Mr. Solomon, for the prosecution,
s fid that in coneequence of Mr. Pelson having been deprived
of his register ticket and certificate of service and discharge
he had been unable to obtain another appointment, and had
been put to considerable inconvenience and expense.—Mr.
Pelson said he was discharged on the 9th of December, when
he received a note from Mr. Robinson, stating that his ser-
vices were no longer required, and that alter a
few days he would find his account and wages at
the office of Mr. Clarkson, proctor, in Doctors'.
commons. To this he replied, that he would not apply
to Mr. Clarkson for any wages, and that he was not to
be swindled out of his wages by such threats. On
the llith of December he made personal application for the
wages to Mr. Robinson, who said he would only communi-
cate with him in writing ;_ and he was not paid his wages
till the 3rd of January, and had nut yet received his register
ticket, or a proper certificate of service and discharge.—Mr
l'elham, in defence, said that, in consequence of a dispute
relating to some claims made by the complainant for the ex-
penses of board and lodging at Newcastle and London,
which Mr. ltobinson did not feel justified in pay-
ing, a negotiation took place,_ which was opened
by him (Mr. Pelham), originally retained for the
complainant; and that Messrs. Cresawell and Adams,
the proctors, sued for the wages; and, owing to a
correspondence with Mr. C. Ellis, secretary of the Hall
of Commerce, proceedings were stopped, and on the 24th of
December, r. Ellis, who acted as agent of the ship, offered
to pay the balance of 371. 175., leaving the other claim open,
which Mr. Poison then declied to receive ; but on the 3rd
of January he received the money.—Mr. Ellis was examined
at 100555, lu auvr.,.. ar .
and said that Mr. Poison might have had money on account,
if he had asked for it, and that he never demanded his certifi-
cate of service and discharge either verbally or in writing.—
Mr. Ballantine convicted in both cases, and said the act of
parliament wee made for the protection of mates and seamen
us well as masters. For the offence of neglecting to give the
complainant his register ticket he inflicted a penalty of 51.
and costs, to be paid to the complainant, and for neglecting
to pay his wages within seven days after hie discharge,
" without sufficient cause," he ordered a further penalty of
31. 13s. 4d., or two days' pay for each day not exceeding ten
days during which payment had been delayed.
THE Poote.nox.—Mr. Ballantine acknowledged the re-
ceipt of 101. from the Goldsmiths' Company ; W. from the
ltev. W. Sheepshanks Burgess ; and the half of a 51. note
.it I from E. P., for the poor-box.
iun-

MONEY MARKET.
FRIDAY EVENING.

The suspension of the respectable house of Cotes-
worth, Powell, and I'ryor, in the Spanish and Portu-
guese American trade chiefly, reported some days
since under this head, would, it was then anticipated,
be followed by similar casualties in the manutactur-
ing districts of Lanarkshire, if not of Lancashire also.
The apprehensions then entertained have already
been verified. The advices from Glasgow this morn-
ing report the failures of J. Anderson and Co., mer-
chants, W. and A. Taylor, manufacturers, M'Phail,
spinners, Gilmour and Kerr, the same, and T. Waddle,
merchant. The liabilities of Anderson and Co. are
stated at 170,000/., of which 60,0001. in bills on
Cotesworth. In respect of the other houses in de-
fault no particulars are given. It is understood that
another Glasgow house, which remains unshaken, is
involved with bills on Cotesworth for 50,000/. also.
A respectable West India firm, which for some
time past has been understood to be in difficulties, is
said to have obtained the accommodation desired at
the Bank of England this day, and will thus be
enabled to meet all engagements.
The funds were all on the ascent this morning, until
the receipt of advices by the French mail, of a heavy'
and declining stock market in I'aris yesterday.
Upon this intelligence Consols, which had been done
at 861 for money, and 864 for the opening, declined
to 86 to 1, but again recovered before the close of
business so far as to 861 to for the opening. The
market was good, but the transactions not of any
peculiar importance. Reduced Threes, 861 to
Three-and-a-Quarter per Cents., 871 to 1. Long
Annuities, 81 to 13-16. Exchequer Bills 17s. to 20s.
premium. India Bonds, 7s. to 12s. premium. Bank
Stock, 188 to 190. India Stock, 229 to 232.
Prices have been rather more favourable in some of
the foreign stocks, but business of circumscribed
amount. Russian may, be quoted 1074 to 81. l)uteh
Two-and-a-Half per Cents., 543 to 1 ; the Fours,
85 to i. Spanish -Fives 20 to 1 ; the Threes, 291 to
30. Portuguese advanced to 241 to 51. Mexican were
called 171 to 18.
The quotations -of foreign exchange for actual
business to-day varied but slightly from last post day,
but in fact the negotiations were of extremely limited
amount. On Amsterdam the rates were called 12.6
to 1•, on Rotterdam, 12.63 to 3 ; on Antwerp, 26.5
to 10; on Hamburg, 13.141 to 15; on Frankfort, 1235
to 1 ; on Paris, 25.921 to 971 ; on Vienna, 10.18
to 20; on Leghorn, 31.35 to 40 ; on Naples, 391
to 1 ; on Madrid, 461; all at three months. On
Lisbon, at 60 days, 52.
The Bank of England averages for the week ending
the Ist instant give, as compared with those of the
week preceding, the following results :
Circulation issue £25,790,820
Osculation sense 17,924,990
Gabbs deposits
Other deposits
Government securities in
banking deportment... 11,054,422
Other securince
Coin and bullion
Beres-day and other Ws 805,364
The rest 3,639,863
The notes in reserve were 7,865,8301., showing
surplus of 79,6501. over the week preceding. Taking
the coin in the banking department of 613,4301., the
total disposable reserve capital, notes and coin, would
amount to 8,479,260/. These returns call for no espe-
cial notice, as being quite in the order which might
be expected under the existing circumstances of the
time. There was a tendency rather to increase and
attract discount business.

BANK Of ENOLAND.—ADa)ccoo
Notes Issued XAT9O.B3O I

for the Week oldie( Jan. 1

PASTY SPIT.
1 Government Debt— £11,016,100
Other eleemitlee. 2,944,900
Gold Coln end Bullion 10.443,761
Silver Bullion

sismao,s2o I
BAPZIPO oe
Proprietors' CRAW .... X 14.863.000
Rem .. ..... 3.6.30,00
Public Deprelta Onelod.
vthey., ear. 13aake,
Come) I. of Nation!
Debt. sal DI v. Aorta) 9,011.688
Other DCIPOIIit. . 8,623.108
thren-day sad other Bala 6A.,364

/25,/no.tt2t)
Government Reearities
iinclud. Used Weight
Annuity) . ...... 161.421
Other Securities
Nola . . .... 7,8a5.630
Geld and iiilver Coln.. 103.430

436.632.903
ENOLIBI

£34,532,903 I 8
M. 14 ARRIIALL, Chief Cadakr.
1 YUMA.
Italtst ttolobo, under 41,000,7 FM
Hawk rttock for Aoct., 190 89
corc...F. for Account. Iklt 1 d A I
India Stock for Acct.. Z 2, ex. dir,
Etch 41.0U0, 74,1017 Pm.
Pltto £.,C00. 70 17 pm.
Ditto Small, 1914

Jan. 6,1663.
Bank Mont, 134 8 9
3 por Ct. Rot MOM, 861 *
3 tar Ct. Connoln, Annn..tnni i 0
Now 3i per Cent. Anna., 82 I
Long Anna., exp. Jon. 6, 800,
17.16
India Stock, M 32
1/11to, Howl*, £l,OOO, 12 pm.
RNIO
*per Ct. Pnrtntruono 23*
0 pur Cont. Rmslan Waldo,. 1622.
M.. 106*
6
'r'orme'rot . trti 1,10 11in 'IL
di'
Ditto, Amt., Jan.l7,lu
EXCHANGES AND

FUNDS.
5 pot Cont. Spanish Pumivo
per Ct. Dutch Elch , 12 Dull..
64* 4 es. 41v.
Ditto, At.. Jan. 17. 541
4 per et Dutch ecrtlikatat, 844
STOCKS ABROAD.

FM AMINMS.
FA1113.3v...a ,780,2. 1 ......,_____v-arstf.,_„.r--.-6-1—.....7,
3 per Osaka. . • 76 06 76 36 176 ITOSI 16 OS
3 De.Newl;oiO L
~ d 76 zo re In I to 10
_Te A
6 He • ll7 20 UT 30 UT 30 UT 20 lUT
o o o
4 Do. lOO
Begtee x 1640_1 34 Molex. " Nelda, .11tentes.. 1103 1011wex
Do. 0.1343 .. .. RORIAII Loan ..
Treasury Bonds 44 „
Do. 44 .. ares
_, . ' 3= r,
Exchange.on London wlghti. 25 65.
NAIMID, Dec 31.—Three per Cents., 281 30 days, 271 15-16 cash,
28 miner ; Four per Cents., —; Five per Cents., ISA at 50 days, I.
cash ; Plosives, 51 paper, 41 rash. Coupons, 104 cash. Bank of ht.
Ferdinand, 129 at 30 days, Boric of St. Isabella, —• Exchange on
London, 48 30.100.
BecnntA. J As. 0.--Tosn of 1340, 074; Ditto, 1041, 071; Ditto, 1344,
914 I 4 ; PIM., 1034, 071 ; City loan, 1943, 04; Bank of ISCigiWII, T 34.
Exchtulgo on London. 25.04.
NATIONAL DEBT-OFFICE, JAN. 3.—The Lords Com- ?,
missioners of her Majesty's Treasury' having certified to the V
Commissioners for the Reduction of the National Debt, in 11
pursuance of the act 10th Geo. IV., c. '27, sec. 1, that the
actual expenditure of the United Kingdom of Groat Britain
and Ireland exceeded the actual revenue thereof, for the
year ended the 10th day of Oct., 11347, by the sum of three
hundred end twenty-six thousand six hundred and eight
pounds eight shilling', the Commissioners for the Reduction
of the National Debt hereby give notice that no sum will
be applied by them on account of the sinking fund, under
the povisions ot the said act, between he 7th da of Jan-
uar', r 18111, and oth day of April, 1848.— the 7th day of Jan-
oar, 1816, and dth day of April, 1848—S. 111(illay M, Comp-

VIVNNA, JAN. I.—The tone of the Bourse was rather di,
quieted to-day, in consequence partly by the circulation of
unfavourable reporta of the health of Louis Philippe, and
partly by the financial embarrassment of a considerable Ger-
man banking-house (Haber and Sans). Though their appre-
hensions wore contradicted, they had a very distressing in-
fluent.° upon business, and again caused a retrogade move-
ment on our exchange. It appears that the next dividends of
the Bank shares of 18-17 will amount to 48 florins per share,
while 60(1,000 florins will be assigned to the reserve fund,
namely 0 florins per share. By the forged bills of exchange
which are in circulation, to the amount of 200,000 florinii,
the Imperial Austrian National Bank sustains a loss of
22,000 florins, and the local treasury from 38 to 30,000 florins.
The less of the former is, however, said to be covered one
ball by securities in hand.

TUE DISCOUNT MARKET.
The London discount market forms so important a portion
of the money market, and has so great an influence on com-
mercial operations, that it may be useful at this crisis to give
a short practical analysis of it in order to become acquainted
with its power and made of action.
There are three main *purees for procuring discounts for
bills of exchange—the Bank of England, bankers, and bill-
brokers —each having separate interests, and being governed
by different principles of acti action in one branch i
on, et there is a general sym-
pathy, and any irregularity of nflu-
ences the operations of the other two. First, stands the
Bank of England. This is essentially a public source;
it is open to every respectable mercantile and trading
establishment; accounts are opened with great ease
and facility, and arc considered permanent liable,
of course, to be closed, in case of bankruptcy or public
failure. 'The directors profess to act upon general prin-
ciples ; they do not solicit business or tike any personal
notice of their customers, as other joint-stock banks do, the
qaality of the paper sent in for discount is presumed to be
the only point that governs the decision of the directors io
each can ; but if the aggregate amount of hills sent in on
any giv: n day exceeds the aggregate amount of bank-notes
appropriated for the day's discount, then a portion of
the Mils is refused or " thrown out," as the technical
term goes, without any explanation being given ; but
when this occurs, it does not cast a slur either upon the
bill* refused or the houses that sent them in for
discount, yet, obviously, there are bills frequently rejected
from the same causes that operate on private persons, vie.,
1 from doubting the quality, or objecting to the amount sent
in by one house. The Bank has always a publicly declared
minimum rate of discount, and publicly gives notice when
!any alteration takes place ; but there is no fixed scale
given to show the range between the minimum and maxi-
mum rates.
The bankers employ a large portion of their surplus money
in discounting bills, end in ordinary times hold several mif.
, the,. freely Inc tho;r e•letnertors
(i. r. fur persons who keep accounts with them), and arc
chi, fly governed by the Bank rate of discount, but occa-
sionally charge a fraction less. A banker having a knowledge
of his customers' mode of bu.iness, will discount bills for them
that would not be readily done pub] a broker or the Bank of
England, the quality not beingicly known, and there
is an implied understanding between • banker and his
respectable customers, that in case of need the banker will
act liberally towards them, which seldom leads to disap-
pointment where the customer has acted fairly, and has dis-
coented his bills with his banker in easy times se well as in
difficult times. Bankers also discount bills for brokers, as the
demand by their customers is not generally sufficient to
employ all their surplus capital.
The bill-brokers arc comparatively few in number, but
ponces gigantic power over the discount and money market ;
they retain the name of bill-brokers, but it bagnot for many
year* been comprehensive enough tolndiente their business.
" Discount hankers and money. dealers " would be more
appropriate, yet their chief business is in bills of exchange ;
but the leading houses no longer act as mere agents
in procuring discounts without indorsing or becoming
Del Credere. In practice, they embrace the functions
of a bank of deposit, s. e., taking " money on call," as
the phrase goes. It works thus :—A asks the broker to
take 10,0001. for a month or two, which is agreed to at a
specified rate of interest. B also deposits 10,0001. at seven
days call, i. e. undertakes to give seven days' notice before
he withdraws it. This system was found so convenient to
large mercantile firms and operators in money, that it soon
became a custom, and has swelled to an enormous business.
For a long time the bill brokers had the monopoly of it, hut
recently a few joint-stock banks have partially adopted the
system of taking money on call, but the wealthy brokers still
offer greater facilities, and have vast sums deposited. Bill
brokers are else the medium for employing capital for coun-
try bankers, chartered companies, and other classes
that have money to lend for limited periods : in
a word, every facility both in borrowing and lend
ing is given by the broken, hence the vast amount
of business done by them, which cannot be better
illustrated than by referring to the public statement, which
was made on the occasion of one large broker's (but net the
largest) creditors meeting a few months since, in consequence
of a suspension. The liabilities were stated in round num-
bers to amount to 2,000,000/., one-fourth part of which was
for deposits, the remainder on bills of exchange in circula-
tion—it may, therefore, fairly be estimated that in ordinary
tissue there must be bills of exchange in circulation that
have passed through the bill-brokers' hands to the amount of
eight or ten millions sterling.
From the above outline of the three great channels for the
conversion of bills into bank notes it will be apparent that
the bill brokers in ordinary times, such as the years 1845,
1810, when the average rate of discounts scarcely exceeded
2i per cent., will first feel any alteration in the money
market, and that their actions are the barometer
to which parties interested pay attention ;—when money
is cheap and abundant (synonymous terms), the bill-
brokers are overflowing, and in order to employ it they
anxiously solicit houses of credit to send them in bills for dis-
count, and charge a low rate of interest as a temptation ; and
as the brokers, to a certain extent, are rivals, each one moves
industriously among his customers, so that all classes feel
that discounts are easily obtained, and it necessarily follows
that these facilities stimulate merchants and others to extend
their business, and to rely upon their paper credit ; hence the
undue augmentation of bills, and its fatal consequences when
suddenly stopped.
The Bank of England, with a due regard to the interests
of the proprietary, cannot let its discount department remain
idle, and from time to time the directors reduce their rate of
discount, in order to compete with the hill-brokers, who, is
easy times, practically determine the market price of money.
This is the principle of action in common times ; and when
the tide turns, and money is alienated from the usual chan-
nel., the brokers are still the first to discover it, their de-
posits on call fall off, their channels for re-discounting bills
become narrowed, and they, of necessity, must curtail their
discounts. The Bank find the change by as influx of paper,
and bankers have more applications from their customers,
and an advance in the rates of discount accompanies this ad-
verse state of things: then come distrust, refusal to dis-
count certain class paper, and once in some quarter of a
century failures and panic,, as in the autumn of
last year. ;The bill-brokers, haying only to look to their own
safety, refuse to " discount," the Bank then stands nearly
alone, and the whole weight of the current hills of exchange
is pressed upon it, and of course it can bear but a portion
of the pressure, and evils occur that are too fresh in the re-
collection to need recording.
The elements of the discount market remain, the Bank of
England and the bankers retain their original power, but
the bill-broken, as a body, have now less power, yet it must
be remembered that there is less call upon them, as the
present amount of bills of exchange in circulation is esti-
mated to be reduced fully one-half from what it was at the
close of the year 1846.—Public Ledger.

RAILWAY NEWS.
We had a fair business in shares, yesterday, with
prices well sustained, bat without any advance
requiring notice.