The Express.
London, England, 1847-11-15 00:00:00

EXCHE.QUER.CHAIIII3ERS..

The court assembled at haltpast one o'clock, to sit in
error on crown mama reserved from the circuits. The
judges present were the Lord Chief Justice of the Court of
Queen's Bench, the Lord Chief Justice of the Court of
Common Pleas, the Lord Chief Baron of the Court of Ex-
chequer, Mr. Baron Parke, Mr. Baron Alderson, Mr. Jus.
tics Coleridge, Mr. Justice Coltman, Mr. Justice Mauls,
Mr. Baron Rolfe, Mr. Justice Wightman, Mc. Justice Erie,
and Mr. Justice Williams.
Tue QI:EEN C. HORATIO NELSON WEST.—The prisoner,
who wits described as a broker, had been convicted of utter-
ing forged scrip in the London and South- Western Railway
Company. The conviction, however, proceeded alone on
the merits, a case being reserved by Lord Chief Justice Sir
T. Wilde and Mr. Baron Rolfe, who tried the prisoner at the
Central Criminal Court, on the 19th of June last, for the
opinion of the Exchequer Chamber.—Mr. Ballantine now
appeared on behalf of the prisoner, sad submitted that the
conviction should not be confirmed. He made no dispute of
the facts of the case, but relied solely on the point of law,
that railway scrip was not a receipt, accountable acquittance
or accountable receipt, and that as it was not, therefore, en-
titled to the protection of the Forgery Act, the indictment
could not be sustained.—Mr. M. Hill, on behalf of the crown,
argued at great length that railway scrip was a receipt, and
as such brought within the operation of the statute.—The
court adjourned at five o'clock until Saturday at three
o'clock, when Mr. Ballantine will reply.

POLICE.—BArreDAT.

MANSION•HOUSE.—Tite SANITARY STATE OP TER
CITY.—The Lord Mayor received from Mr. Hodgson, the
superintendent of the City Polies, following letter which
was written by Amistant-Inamedor and transmitted by
the Lord Mayor to the • . It is dated
Moor-lana.„Statioe, NovB.ln,Z:
I respectfully beg to submit the fillekko gegen kr year Informa-
tion, in ooesequase el Mame sad &waft fig wighbourbcod of
Barbican, Briiewerim.4Thenh ie. sewer/ M bs armed from en.
halation.
ifskeM a leekigeemil theital in thelemlem
port of Thie lhe Clty, barsatss la • ma mime
who ties Italia lent a pellet emeletill to.ratbetter=
es easSay IM. _be saw dean gram saw twenty-Mit
bet them, me it Om maim' aim wales ea ash other ; the
pose re thinly semeall am with Maw WI they an quictrn
.----s than ablate ter theseelmesilme Ss pawed a
la. They are trementhr es deserbed be a water ten days ; the
ground is, therefore. bee boa swellunam el firearms]
matter. On my meek et algid Ilene keno] the weekes emsa
along from the rem et Ihegeweeperd to likvwmi,
_elfish Is alma
thibealleg. lam aloe bid try the semblie thst a despingor arced
Bound% 10, ',ooidesiesti, appelle the Iseditikewi; slake that
dudes the last three or ter yeast is hr kept the loam thirtr.two
Imo dled there; tad st akin dam he hes theetablet tam
to hookas Ids stim_the me flew thagm=r4
mom Wag as elluelve. A Waimea arced Daly, ia
b wry Mem Mama a saelbei am to Ids hems 'tercet Ids
away. A mesa amid herd, at 12, Brialidspilnat. Isimpllsi
es loom Ms badeam ehbosal a pat esa, thomth Masa
y,e Ma
Owls trithatratermaim.thsthethluth-- 0111•64111 M......
--me ihesome by very peer poem, GM ma
simsh. Ma Mum la Um arias me aessa, adali
atm or Me poses Heim in a seem Mlth errs
ceralp.a.traer seestalis deem kat dae= aro as:re
lietweserthe lesilelgseThiliebiledneedowathtriag-
gt.Thmerfs, thregromes beim Wine yank apart,
I Weer leg te ad, your Maiden to the der-
mallebt arms at pane who did MOE Yen lest three
moth la the bertha mialthourhhaveood et
elm la the
amen of pessem as it is it a pitheads be the aa
the beat to Math boa) who at the prom* dthe ere mar
laserit appommakno.—Ltimenienntho list el II who
Mee beg, stal at IS disk gems, sod their
Thwasse Soon Assitealissaliase.-I'.B. I have le
=Y
&has as mtetly es ;melba md . se death
ask MIMI wadi he daleat if
famby were mai, It met bon lbee ade
mob miorrates the waft& alibi
GUILDHALL.—",OIIIIII7CRIKO MI POLIO& "—C.
Kennedy was Mama with amealthap Oily poiloommthbk
Goes, 334, and obeteastin,g him la las emoMW *Chit ditty.
About two o'olieek that stestalag the elbee's afteitlea was
drawn to throe rasa and a *male la WiPelieweerart.Pieet-
street. The neighbours having anapithemth ',improper sha-
ratters loitering about there, he desired Hem to leave the
spot, when the prisoner, who was ona of the party, told him
be had no business to interfere with them, end brought out
a book to note down his number. lie assured them that i
Wattnot leave he should take them into custody, when
addressed him in most violent terms, and he was
Vim to the station-house. On the way there defendant
saleakbbe in the breast, and nearly threw him down.—De.
hang he answer to the charge denied that he had
obeirmaled the officer until his wife was grossly insulted
by Ma. When the constable came up, he add :
• Now, move on with that gal." Defendant asked him
whet he meant by "that gal," telling him she wan his wife.
The anew then added, " Well, you must be off with her;"
and, thinking that he was acting rather too harshly, he was
going to take his number, so as to complain in another quar-
ter. No sooner did he do so than the constable said, " I'll
walk you off," and at once collared and shoved him along
the street to the station ; so roughly was he used, that his coat
was nearly torn from his back. As fur throwing the consta-
ble down, he would ask his worship, on looking at their re-
spective sires, whether it was likely he could have had the
least effect on the officer (a tall, powerful young man). The
parties with him were friends he had not seen for some time,
and when they were interrupted he was wishing them good-
bye.—The officer denied having raid " Now, move on with
that gal ;" he said, " you mast move on with that female."
These was a young man who promised to bear witness to his
statement, but he did not see bin in court —Defendant said
that was a low, blackguard fellow, lurking about Fleet-street,
whom the police-officer called upon in the Queen's name to
assist. He had no witnesses there. His two friends held
able situations, and, for their character's sake, they =
making a public appearance in a police court. The officer
did call my wife by the term of " that gal," when we were
quietly wishing our friends good night, and that was the
sole cause of the complaint.—Mr. Alderman Gibbs (to the
officer) : You charge him with obstructing you in the sae-
COURT OF QUEEN'S BENCH. cutioa of your duty ?—Officer : I do, your worship.—Mr.
Tax Queer; v. THE Irrraumwre or LEEDS.--ir is Alderman Gibbs (to defendant) Then sir, I must fine you
THZ DUTY OF • COURT OF QUARTER SEMITONE, IN TRY. 101.—The fine waspaid, the defendant hinting that he ilhollld
100 AN APPEAL AGAINST Alf ORDER OP RIINOVAL, TO take the matter elsewhere.
RICEIYI EVIDENCE OF THE GROUNDS ON WHICH THE ROBBERY AT A LODOING•HOUBB. Sarah Jones wen
Cover or Queen's BENCH HAS PRONOUNCED • DEO- charged with stealing two 51. notes from her landlady, M.
RION TOUCHING THZ !ACTUAL SETTLEMENT CLAIKED J— Smith, of Cock-lane, Smithfield.—Mrs. Smith stated that*,
This was an appeal against en order for the removal of a prisoner had lodged with her about five years. She had ma. ,
pauper from Preston, in Lancashire, to Leeds, in which the fidence in her honesty, and the prisener knew that she kip :
Court of Quarter Sessions for Lancashire had confirmed the her money between the mattress and the sacking. Oa
order, subject to the opinion of this court on a special ere. Wednesday last the prisoner was in her bedroom when dee
The chief point submitted by the sessions was, whether the had occasion to get some money, and she desired the prism/RI
judgment of this court, quashing a former order for the to lock the door and bring the key up-stairs. As she didn't
removal of the pauper to Leeds from the same respondent come up directly the servant went into the room and found
parish, on examinations substantially the same as those in prisoner had got her pocket-book from under the mattress.
the present case, ought to have been admitted in evidence on The girl told her to pat them back where she found them
behalf of the appellants. The former examinations were and she appeared to do so, and locked the door. She west
held defective, because, as in that part of them which set out soon after, and as she did not return all night witness
forth the grounds of the statement, it was stated that the thought something was wrong, and missed two out of four
pauper had "paid rent for the whole term of hie t0n,..7,.. 51. notes in her pocket-book. The prisoner did not return
Instead of had " paid the rent for the whole term of his the second night, but on the next day she came in, and wit-
tenancy," a settlement was not disclosed on the fate ef them. ness gave her into custody having, in the interim, disco-
The judgment of this court was in the ordinary course erred that she had one of the notes at a beer-shop
adopted by the sessions, and in the trial of the present ap- in Bartholomew•clomeed the other at a publichoue there.
peal the appellants, for the purpose of showing it to be con- —The prisoner, in mums to the charge, said Mrs. Smith
elusive against the settlement, wanted togive evidence to show had given her the notes to hold. She had left one at the
that this judgment was pronounced by the court on grounds beer-house to be takes eke at, and she had changed the
that affected the merits of the claim to the settlement. The other at the public-home to pay a subscription for the tom-
Court of Quarter Sessions refused to receive this evidence, plainant. She had some dlengp, but did not know what
keeled the judgment with exclusive reference to what had led become of it. She suppled elw had lost it, being tiner-
=Mee them and their own records on which it was She and Mrs. Smith wan' oat drinking together.—This
and so the appellants front inairting that a servant, the landlady of the beer-ahop, and-another witness
615011 mg beithatent had been pronounced ontbe named Ryan, a tailor who usually employed the prisoner,
elm omits albs mitimiat which the respondents desired were examined in support of Mrs. Smith's statement, and
to ithatlish.—Mr. Cowling was now heard in support of the the prisoner was committed for trial.
left order of salons, and Mr. Pashley in opposition to BOW-STREET.—Busoteur.—C. Dibdin, a law-writer,
it.---The Court was of opinion that the appellants had been was charged on suspicion with being concerned in breaking
entitled togive enideatee of daee,i ds on
iwinch this oourt into the premises of Memos. Bullock, auctioneers, Huh
had, on this gremestiermion,pm itedeca inn; and, gene. Holborn, and stealing to the amount of 601. worth of plate.
rally, that it was esompateat to side to give evidence of —Mr. E. Bullock stated that at five the previous morning
the prowskartelakthiethartathala have given a prior judg. he was roused out of bed by Sergeant Thompson, F division,
in
meat lathe =Mat etheportiselear settlement. It was elm of and another officer, who formed him that his house had
opinion that lb era leesaw jtrltaant had been pronounced, been robbed during the night, the front door being found
ass ea a paint 44 term bee the the merits of the settlement, open. It was discovered that an entry had been effected
sad filmdom bad boa absolutely final and conclusive from the outside, by opening the skylight at the rear of the
ambit it.—Rule absolute for quashing the order of sessions. auction room, and the thieves, having cut out a pane from
the office window, broke open a chest in which was a quan-
_
COURT OF EXCHEQUER. tity of plate belonging to hie brother, the entire of which
&Wags la Bosco. they took away, leaving only the plated articles, from which
GIMLET r. LICEROYD LID ancernea.—Ltrioariort ix they tore off the silver rims. A desk was also broken open
Comers' COURTS.—Mr. Martin, Q.C., moved for a rule but there was nothing of value in it.—J. Webster, 155 F,
calling en the plaintiff to show cause why a writ of prohibi- proved that about two o'clock in the morning he saw the
ties should not issue, directed to the judge of the Worcester- prisoner alone in Newton-street, coming from the direction
shire County Court to stay all further proceedings, and if, of Holborn, and observing that he took notice of him he
turn into this court the plaint in this action, which was tried commenced whistling until he passed, and then ceased.
before him on the 23rd of August last, when an order was Suspecting that ha was an improper character he traced
pronounced in favour of the plaintiff. It appeared the de- him to 24, Parker-street, Drury-lane, where he entered
fendants, who were railway contractors, ordered the plain- and shut the door. Witness then went to the house
tiff, on' the 10th of July last, to supply their workmen with of the prosecutor with the sergeant, the door of which
amain aseeselria. A large sum MOM became due, and pro. they found open, and having satisfied themselves that a
easing' be its recovery were taken in the County Court of robbery had been committed they took the prisoner into
Wecemereshire. The plaintiff conceived he had a right to custody, and found between the mattress and the bed he was
treat each debt, contracted by the workmen, as a distinct lying on a number of skeleton keys, chisel, and other house-
man/doe, and although there was only one order breaking implements. He bad also in his pocket a key,
gemby the deladants, that it was such as nn'. which ho sold opened his room door; but on showing it to
them raspassible for each individual separately the landlady she said it belonged to no part of her house.
primmer said he was entirely ignorant of the robbery,
dliable to he mat in several actions. Accordingly the The
amber of immoseaeas which might be tamed amounted and that he got the keys from a young man at a public-
to $,OOO ; Meath Hs middle of September upwards of house In Compton.etreet to keep for him, but he could not
ft/ pamausthe ware issued for the recovery Of an aggre- tell his naass.—Reenanded for a week.
pie sum et POOL, which was composed Of various AHATRUZ CAR-DRIVING.— W. D. Oliver, a banister,
men swim act Si., and many of Ikea as low ea occupying chambers fn Plowden-buildings, wee charged
is. The Paned eeasei submitted that the prise/pal object with driving a cab without a license.—T. Holland cab-
er*, biglietere to weethig those tribunals, ' for the more driver, said that at one o'clock in the morning the primate.
=tharrory email theists," was to facilitate the edminis- was ' the stand in Pickett-street, Strand, rather the
elledligenend to dowses costs, If the worse for nor, and seeing the complainant's cab anat.
pueusll
ammumilmagi by Ma were snared to be pro- Waded ha into it, end drove oil about My yards. Mo.

Before cisChancence Knight Bruce.
ROBINSON v. BELL.—ADMINIsTRATION AD LITEM NOT
01711011 NT, Wlll/111 OSNIIIAL A.DMINISTIATION CAN DI
TROCCEIIO.—A testator had eatessaied ter payment of a
sum of money at his wife's dada Mb wile sanetvied him
several years, having, ea is was s tad, adidaiserned all hie
personal estate, and did ultimata bombe any
_amele. Upon
her death, the pay. tmossidtr mailer the
covenant, instituted the praised suit against the par-
tics interested, wader the selOsel will, is the real
slats of the toilets, tar pement, out of those estates,
of the sum due, in repeat of the .swami. To this suit no
one representing the pummel Maas wee made party, except
a parson to whom the *Mil bad promed letters of admi•
nxtration to be granted, limited to the purpose. of the suit.
—Mr. Wigram and Mr. StiMon, for the defandante, took a
preliminary objection that Mere was no complete personal
representative before the cowl, sad that no barge could be
made against the real Maas without it be* assartained, in
the presence of such a repeosalative, that the personalty
was deficient. An &dadaist's/re ad lit= mai ast get in
the state or act in its administriftless They emir* to
Clough v. Ditoa" (10 Simons, 673); and "Davie v. Min-
ter " (14 Simons, 212).—Mr. Russell and Mr. Phillips, for
the plaintiffs, said that such an administrator represented
the personal estate es regarded its liabilities, and
that, if any personal lusts were discovered, his being
a party would entitle the parties entitled to the
real estate to be recouped out of those assets. The
present frame of the suit was in accordance with the law laid
down in Lord Redeedale's " Treatise on Pleading.'!—The
Vice-Chancellor, after communlosting with aoseof theother
judges of the court, said that the plaintiffs here were two of
the next of kin of the deceased executrix, who was sole resi-
duary legatee. They were also equitable creditors of the
testator. It was not neaerary to say what the court might
have done if it had been satisfied that the plaintiffs could not
procure general letters of administration, because no such
CIAO had been here made out. As the present ease stood,
the objection, for want of parties, must prevail, especially
having regard to recent authorities, in another branch of the
court, which bad been cited in the argument.
OCILLIIII7OI v. REAP.—Nzw TRUSTEES.—Ths testator
in this case gave the trust property by his will to certain
trustees, their heirs, executors, administrators, and resigns,
bat made no provision for the appointment of new trustees.
There being none of the original trustees left, this suit was
for the appointment of new ones.—Mr. Bacon and Mr. Prior
appeared for the plaintiffs.—Mr. Russell, Mr. Begehawe, and
Mr. Ruch, for the defendants, contended! that the limita-
tion in the will carried the trust along with it to the parties
entitled to the legal estate, and they cited " Titley v. Wool-
stenholiste" (7 Begun, 426), and that no new appointment
was necssary or proper.—The Vice-Chancellor thought
otherwise, and mad* the usual Mane for the appointment
of new trustees.

thee cabman stopped him until the complainant arrived.
He was asked it he wanted a cab; but he merely swore at
them, and was given in charge.—The prisoner denied that
le was the worse for liquor, and being in a hum to get to
the West-end be got into the cab, supposing that when the
bons began to move the driver would make his appearance.
—Mr. Henry said, that although a cabman was liable to a
awl for leaving his cab unattended, another person was not
authorised in his absence to drive his vehicle without a
license, and ordered the prisoner to pay a has of 405., or
I three weeks' imprisonment.
POST-OFFICE ROBBERY.— T. Stir, letter-carrier in the
Hammersmith district, vu charg, with stealing a letter
containing e. half sovereign, the property of the Postmaster-
General. In consequence of the numerous complaints from
Hammersmith respecting missing letters, Mr. Sculthorpe,
the superintending president, enclosed is a letter a half sove-
reign, directed to Mr. Weekly, Cumberland-house, Shep-
herd's-bush, and having gone to Hammersmith he m, t the
prisoner and the other letter-carriers leaving the office ; he
immediately ordered them to return, and having requested
the Shepherd'ebush postman to produce his letters, he dis-
covered that the letter in question wu not among them, but
subsequently found it in the parcel held by the prisoner, and
laving told him that it wu not in his delivery he replied
that he knew it, and that be was driven by distress to take
it. Upon the application of Mr. Peacock for the prosecution
the prisoner was remanded, and on leaving the dock he
seemed greatly affected, saying that he had lately lost his
wife, that his children were lying ill of the small-pox, and
the landlord lad within the last few days seized every article
he possessed.
WESTMINSTER.—Wommores Rzuar. A half-
naked girl, 15 years of age, applied to the magistrate, with
tears in her eyes, and implored him to assist her. Her father,
a mufti's labourer, without employment, had been to the
relieving otficen of St. Margaret's, Westminster, for relief.
They set him to work for four hours, and then gave him for
his support, and that of herself sad a child four years of age
which she held by the hand, " three pounds of bread to
last them till Wedneaday."—Mr. Burrell said he had no
power to wilt her.
LAMBETH.—A MASTER TRADESMAN CHARGED WEIR
INCITING vo ROBSERY.—R. late*, master shoemaker, was
charged by Mr. Peacock, boot manufacturer, Walsworth-
road, with inciting the errand-boy in the service of the com-
plainant to rob him of boots and shoes.—Mr. Peacock said,
that having found be was robbed, he discovered that his er-
rand-boy conveyed a quantity of property, consisting of
leather boots and shoes, to the prisoner's shop ; and on being
questioned, the lad confessed that the prisoner gave him Is.
a pair for men's shoes, and 6d. for women's shoes.—The pri-
soner admitted having purchased some of the property, and
was remanded:

Tnl deferred annuities for the absorption of savings
ks deposits, and small industrial accumulations.
The railway interest of itself must operate a mate-
ill elevation in the value of money and the rate
profit for many years to come. The lines finished
and in work are more or less yielding returns upon
the original capital expended of a much higher rate
than Console. They have distributed during the pre-
sent year about three millions in dividends. The
small ca.pitalists, now that, and in proportion as, con-
fidence is returning, will naturally be carrying some
of their savings, therefore, into the railway market.
They will divide between Consols yielding 31 per
cent., and railways returning 5 or 6 per cent., if not
more, and so make an advantageous average. Consols
are always easily saleable at a fractional abatement
upon the day's quotations, and where money may be
wanted it is, therefore, more readily realised. Rail-
way., in times of difficulty, may not be convertible
into money eo easily without a greater sacrifice. In-
vestments in one and the other conjointly, therefore,
possess a manifest advantage for the capitalist, since
the greater returns derived from the one, with the
greater facility of realisation inherent in the other,
answer all the calculations of contingencies which
the prudent invester will take into account.
After the failure of Messrs. Liveeey, Allen, and Co.,
the last note-issuing bank of Manchester and the
populous industrial districts of which it is the centre,
about the year 1;94, with the consequent exclusion of
any but Bank of England note paper from local cir-
culation, credit and trade underwent some remarkable
changes in adapting themselves to a new system of
banking, with a more meagre note currency for car-
rying it out. For twenty years after that period
Manchester may be said to have been almost indeed
without a note circulation, for the supplies drawn
from the Bank of England bore a very inadequate
proportion to the mess of industrial exchanges con-
stantly in operation. The rags and tatters of bank
notes, kept out and used for years, until scarcely the
vestige of a name or a number could be traced, will
be well remembered yet in that locality. The greatest
difficulty was experienced in procuring small notes
for the payment of wages, from the shortness of the
supply, and hence originated practices of " tying "
the workmen together in par ties calculated pro rata
of the wages to be received, and the small bankers'
or other bills to be melted, and sending them to the
r etoulic-nhouse, or the grocer's and chandler's shops for
t or change, to be then divided amongst
them, and in great part spent there. Hence
a deluge of small bills, so that the circu-
lation became, from the promissory notes of private
banks payable on demand, a bill circulation promising
to pay only two or three months after date. All pay-
ments were made by bills. Individuals of all classes
coined this sort of money freely, and more especially
in the towns and districts surrounding Manchester.
A large proportion of such bills, which were made for
sums down to SI., were no better than I 0 U's, except
for the stamp. They were drawn " I promise to pay
after date, &c., at domicile ; thus, they presented the
drawer's security only to the first taker, although on
afterwards through various hands they might
passage
with indorsements. The banks, of course,
would not admit paper of this low description to be
made payable with them, although such bills of a
larger class and a higher order of endorsed security
might be passed to the customers credit, discounted,
and collected by them.
Of the more respectable and regular order of cur-
rent exchange the bills of Messrs. Jones, Fox, and
Co., entered very largely into the bill circulation, as
the great bank of the district. Their bills and names
commanded • credit and currency beyond all others,
and amply justified all the credit they obtained.
But it cannot be denied that they possessed pecu-
liar advantages of position, construed strictly in
the commercial sense, Jones upon Jones, after date
was not a bill of exchange, which supposed both
drawer and acceptor, two securities instead of one.
It was an issue of precisely the same import as the so
much decried bank notes, with the disadvantage of
being payable after date, instead of exigible on
demand. Supposing the bank note to have been
payable at a London bank, as well as at
the bank of issue, it had an additional cha-
racter of security. It need not be said how
greatly the power and the capital must have been
augmented where the drawers, acceptors, and payors,
i were one and the same. When to such a conjunction
et position and influence it is added that the vast
MONEY MARKET. machinery thus raised upon credit was presided over
SATURDAY Breese°. and directed by the master banking mind of the age
The Stock Exchange was closed to-day, or business in the London house, we cease to marvel at the colossal
suspended by official order, at one o'clock, out of re- fabrics of fortunes which have been raised upon the
spwt for the memory of Mr. Pearce, the late chairman foundations of a bill circulation such as described.
of the house, whose funeral obsequies were appointed The career of this bank forms the moat striking page
for this day. in the modern history of credit and capital. Here
The financial exhibit of the Bank of England re- we have mighty capitals reared upon and created by
turns this morning, with the more important notifies- credit, represented by paper signs, which surely
tons still of the inflow of gold in progress, exercised could not be of a superior order, all other
a marked influence on the funds, although from the conditions equal, to a circulation of bank notes,
early closing of the house, and this being usually a convertible at will. Let it be remembered
short business day, the transactions were nut of that that the banking business of the time was not
extent and activity which might otherwise have been to discount bills into cash, but to discount one
looked for. Consols advanced to, and were done at, bill by another. A customer paid in bills fore thou-
-851, but at one o'clock had receded to 841 to 5. Later sand pounds, and he received Jones upon Jones for
on, however, out of the regular hours, they became 86 the amount at three months after date. No money
buyers for money and this account, and for next Sc- Passed ffenersllY ; but the customer had the advan-
count 851 to 1. Reduced Threes, 831 to a. Three- tags of bills of the first credit, in amounts answering,
and-a-Quarter per Cents. 851 to 1. Exchequer Bills, because drawn exactly to, his requirements. This
2s. discount to 2s. premium. India Bonds, 15s. to 101. was
_perfectly good and correct banking business.
discountßank Stock, 1861 to Be. The Bank lent its credit, which was a more available
The foreign market, with the exception of an im. value, charged a certain per oentage rate for the use
provement m Dutch stocks, was without alteratioa, of it, and the transaction ended with probably not the
and with little dealing. Dutch Two-and-a-Half per smallest cash transaction between the parties. Like the
Cents. were 64 to 1; the Fours, 83 to 4. Spanish custom at Marseilles, nearly a century ago, the bills
Fives, 161 to 1 ; the Threes, 271 to 1. Portuguese, in currency were payable en compensataon, that is,
20 to 2. Mexican, 151 to 4. Venezuela, 33 to 4. by other bills. Upon this foundation of credit ex-
Russian, 1051 to 61. changed against credit and convenience, were raised
The London corresponding house of the Bridt the fortunes of the great house of Jones Fox Loyd
bank of Messrs. Gundrys declined to honour their and Co., and a perfectly legitimate foundation it was.
drafts to-day. The bank has branches at Beaminster, Why, then, should credit be less legitimate now, if
Lyme Regis, Chard, and Axminster, with a note cir- unrepresented, as then, by metallic values, and only
culatioa, according to the last returns, of 22,1821. very partially represented by a Bank of England
From Amsterdam the failure of Messrs. C. Rope note currency ? A banking account calling for
and Son comes reported. The house is extensively Bank of En land notes only would have met with
engaged in the sugar refining trade, and various mer- little sympathy in those days in Manchester. The
canine concerns here will be implicated to some ex- framework of banking circulation was bills against
tent in the consequences of this disaster. Amongst bills, the greater currency of credit determining the
others, the estate of Messrs. Castellaine, who sus- difference of more or less acceptable values in
Fended some time since, is likely to be seriously pre- the ease.
JaclicecL With bills matured or running, it is said From what has been observed it may be gathered
that the estate will be involved by this failure to the that Manchester was not particularly benefited by the
amount of 16,0001. Apprehensions are entertained change from a bank note to a bill circulation, and
of more sinister casualties to come from the same more so, where the bills or promissory notes after date
quarter abroad. There has been in consequence a were of the equivocal description drawn by and peas-
revival of some unpleasant rumours about mercantile ing among the less responsible of the traders and
establishments in the City, which so far do not appear manufacturers themselves. But out of the deficiency
to be supported, and have most probably as little of note circulation, and the more expensive subatitu-
foundation as the many which have preceded them. lion of small bill values, there naturally grew an ex-
Oa more than one occasion the remarkable circum- tension of credits in the cotton districts. Spinners
stance has been noticed of the extraordinary number and manufacturers, who had been accustomed to deal
of new and small investments which have been made for the local cash, or for bankers' or other bills within
in Consols and other stocks within the last two or 14 days, at three months after date, began to
three months, and more especially on account of the spread their credits, both taking and giving, over •
depositors in savings hanks. It is not perhaps erre- larger breadth of time. The practice gained of open
gating too much to assume that the Erprcss has book credit accounts, first limited to two months and
contributed in some degree to this movement, by two months, and three months and three months,
drawing the attention of the humbler order of meaning on the expiration of the two or three months'
capitalists to the superior advantage of transferring open credit, payment in a bill at two or three mouths
their funds into Cense* yielding at late and present after date. These open credits, remaining nominally
ruling prices from 31 to 31 per cent, instead of the the same, expanded, however, by degrees, into more'
21. 18e. 4d. paid by the savings bemire. It is no small indefinite proportions. The running month was first
testimony to the increasing intelligence of the comma- taken into the account, and next the month when the
nity, that calculations of the sort are now so astutely credit should have expired, so that at length a three
made and understood in quarters where previously and three months account was rarely resolved into
the signification of Consols stock was scarcely or not cash in less than ten or twelve menthe. Great in-
at all understood. We are now enabled to state, on exactitude of payments was the consequence, and a
the best authority, the almost incredible fact that no fixed definite period could seldom be counted ale es
less than seven thousand new accounts have been one man's failure of punctuality would be the came of
opened in the transfer books of the Bank for stock of numerous other&
various kinds, but Consols chiefly, since the month of This extension of the open credit system led, there-1
July—and this number in addition to those inscribed fore, to many abuses, and greater still from its intro-
in the books before. The small capitalists, or, as duction and spread into the higher class of commer-
generally expressed, the public, have been beforehand cial dealings. The results will serve as one example
therefore with their more aristocratic leaders of the to show that money and commercial diameters are not
higher order, and of the Stock Exchange and banking necessarily peculiar to a small note circulation; they
interests as well. They have been purchasers may equally arise, with a wider range of mischief,
when greater people were sellers. They hare from a larger credit system represented by bills ; or
been buying in the 6eapeirt market, from 79e to 841, even with a purely metallic currency, as instanced
whilst others who had bought in the dearest, say at some days since in the case of Cuba.
95, have been selling in the worst market. Although The advantages of • bill system like that referred
Consols may not again rise to 95, or the interest of to, in multiplying the uses of capital, could not fail to
money fall so low as it has been, nor is either the one be understood, and to be acted upon, when and so far
or the other desirable, for low rates of money values as credit enabled, in other quarters. The bill system
have been • leading and preliminary source of all expanded aeowelingly. Howe in some cases were
monetary and commercial dusters, yet they may created in Lesion as draw' merely ; Aldgate
reach hereafter to a higher figure, and anyhow the pump, but he the mass, wosTi have served as well.
improved interest measured by price constitutes a more From 3 menthe umwesatila asd colonial credits ex-
desirable investment. Long Annuities also are de- tended to 12 and ii wood" and foreign credits pre-
serving of attention with small capitalists, and it portionatsiy.
_Who is Limpid sr Msoishoitsr does
would be economically and politically an advantage not yet resomher the times of the eslobsated John
if, extra bonus of inducement, government Bioasor—the past surebasd of Threepool that was—
seek to establish or extend a system of present the great bill mbar otLadoa that afterwards de-

BOUTLIWARK.—CitUZLTY TO • CHILD.—R. Ede,
Susan Ede, his wife, and S. Jaelcaon, aged 19, were finally
examined, charged with cruelty to C. Doyens, a child two
years and a half oid. The prisoners residtd in Collier's-
rent., Borough, and about a month ago the parents of the
child, who are travellers, left him in the care of Ede and
his wife. Oa Tuesday last the child wee left to the care of
Jackson. During the morning the child was heard to scream
violently, and the neighbours law Jackson flog him in a
dreadful manner, when one of them took him away, but
sent him home in the morning. On Thursday morning the
child wee heard to scream more violently, and a man who
lived in the same house saw Jackson beat him with a shoe,
and seize the child's mouth to stifle his cries, which aimed
blood to flow from one side of his face. The whole of the
body was covered with bruises, and the little thing was
nearly starved.—Ede and his wife said that they knew
nothing of the ill-treatment. It was inflicted during their
absence.—Mr. Cottingham told them that their conduct was
highly reprehensible in leaving such • child in the care of
such a brute as Jackson. There certainly was no evidence
to implicate them, therefore he should order them to be
liberated, but should receive them as witnesses against Jack-
son, whom he committed for trial.
HIDIIWAT ROBBSRY.— IV. Berrinsan, a returned trans-
port, and J. Bell, a known thief, were charged with stealing
• 101. Bank of England note, and a gold watch, from Mrs.
Redpath, a lady residing in the Old Kentroad.—About
seven o'clock on the evening of the 24th ultimo, while the
=trix was proceeding along the Dover-road towards
he was suddenly pounced upon by two men, one of
vim seized hold of her arms, and put one hand over her
nsouth, while this other snatched her watch, and picked her
past of the bank note. One of them struck her on the
cads of the head, and while she lay insensible on the ground
dry made their escape.—Mr. Cottingham mid that the evi-
, deem was not sufficient to warrant the detention of the
prisoeem—As Bell was leaving the court a constable of the
P division apprehended him on a similar charge, and con-
ducted him to Lambeth polioacoart
-•• • •

THAMES.—EASIBING • STOLEN eftEQUE.—C. Nkholson
was re-examined, charged with having attempted to pass a
stolen cheque. On the 21st of August last Mr. Hazeltine,
an engineer, Stratford, Essex, drew a cheque on the firm of
Martin, Stone, and Co., Lombard-street, City, for 71. fa., in
favour of a Mr. West, braasfounder, Whitechapel. West
pried the cheque to another party the same day, who finally
transferred it to Mr. Cnittenden, landlord of the Ship public-
house Wells-street, Mile-end New Town. The same day
Cruttenden's house was broken open, and the cheque in
question, with other property, was attracted. The prisoner
on the 6th inst. presented the cheque at Memos. Martin's,
where it was stopped, and the prisoner given into custody.—
The prisoner, who said he picked the cheque up in Lombard-
street, was committed for trial.