The Northern Daily Times.
Liverpool, Merseyside, England, 1857-05-09 00:00:00

THE NORTHERN TIMES.---LIVERPO

e_ I
measure is to be thrown to them as a son for this
[
session. The Premier, it is understood, is for a bill
which will give the-gefbe ' tie‘ the 'Jewish Disabili-
ties, but a majority of the Cabinet is for a
Reform Bill, and netreee, else; all other mea-
sures, legal and 1311Cial, t.(l be postpened...Eeery-
thing seems to. ereenr a stormynee, teiteee,,„e
.
beginning of-the new- sessie •. ~
Locally': tli4xe IS not Ling ceeirigi for particular
attention this moening• The adjourned 'inquest on
the bodies ()Oho +we men killed by the doeoneotive,
e,eelee at P.,he Mil, on :`,lonci?y, will be restricted
today.
.1 •''l'h, Cuevecetiee of the (levee.. of fie. erovivitie I,l'
Canterbury met eeterdayllhe ljeptr liattse
adopted an AihtlessiE4. to the •Qtteen, in answer to the
I speedh from the- threne, and this address i-.:, eo't 3
mere eeho et the 1.4(),•?,:q.h. for ti 1),AI-its out u. :I).ta et.
Of great:social andpeliii,al irepert---the iteperreet
education of the voting.
The funeral of the late Duchess of Gloucester
book place yesterday morning, her body being con-
veyed to WindSer. , The ceremony, ,was of a very
unostentadeus character. . ' -.• I ' - •
There is no other domestie.news.
Our foreign intelligence this morning is 'of some
interest...Al° festivitiesin PerieitelOnour of the
Russian Grand Dultee,,almost ahierb attention
there. The Frencla'goverriatent sf.-!enis inclined to
spare no expense or trouble in order to renew feel-
ings of amity between its netion,lend Russia. The
Greed Rukeevill, it is said, visit'OSbormeabout the
Ist of Jime, for the purpose of having an interview
with the Queen. The first project for, a reform of
the charter 'of the Bank of France, has been with-
drawn and another adopted, under which the pro-.
posed increase of the Bank's capital ls to be devoted
to the requirements of commerce instead of those
of the government. The Moniteur announces the
immediate departure of Baron- Gres Tor China, as
Extraordinary French CointhiSsioner,-to4to-Operate
with Lord Elgin—that la:to sly, net to let England
gain any efeinsfie?itheantages. Baron Grop is the
diplomatist who was entrusted by Louis Philippewi!h
the important rniseion to the Argentine Republic
in 1847, who afterwardea.cted as mediator in the
name of France, between . Great elaeitain- emu]
Greece, in 1850, and. who: reeentlee eiieieveeWed in
concluding the treaty .=between Fratteetehd- Spain,
regulating the common frentiercifllicePeren.eee,
Baron Gros will deliberate on thesv4'with Laid
Elgin as to the measures' end-means, t action best
adapted to avenge the wrongs of Fr 4 1)f0,4 Erig-
land, as likewiie to prevent theeenistippeesif scenes
'such as have riven rise to the present 'nrfienee
of Europe ir("tbp; aft.4ir*of Eastern.:kAskt. • The
French Enveyttle pofgr to act with, the British in
any
,offensive operations; at the same time it is
_perfectly upderstool thAt the advaneeteesigaieed
by. the Allies , will _be:.partieipatedelbyalthoWyole
world. Baron Gros has -had tw6 prOgfacreT audi—
ence§ with the Emperor,- and - he 'ivilUtart for his
destinationas soon'ae the AirdaCienireTtilreadetor
sea. The "Nnsti tu tionitei- giTer'some,lfiNtit to
the precieeetbjpet of-Baren Gres'ettießonelteays
--- ' ThiS diplomatist `will haye to den-lapel-69M, the
Chinese-Gavernetetif reparation for wrong.peculiar
to France alone: Among ethers is the Murder of
M. Chappedelaine, the missionary who was -last.
year put, to 4eatk under the most atrociouseireum,
stances.. Hti.,iS also to demand a -fresh treaty Ve.
commereeteeene French squadron is so composedas to beitkilartio.ascend.the rivere, alid tillis'ah sc...-
strongly oelithe Chineso. 'Government as, t.,,0' ediiii6V.
if fei satisfy the. demands made." ' e'l '-',,, e'. •
On Tuesdaythe -Ettiperer and' Eriiiiiis' VOI Ans-
Aria made their soleMn entry into PeSth, the capita'
of Hungary. 'ln replYingtoan address, his Maje.a‘y
said-he was come to learn for ItimeelkAgeetAteafict
the necessities of the Hungarian peekle.. - ~.,4. ,
The other foreign news may be s4nitned urp
shortly. Austria has prohibited the further issue
'of industrial shares this year. 'The treaty of com-
merce which Russia has concluded with Japan is
of a more favourable character than the one the
Japanese Givernment has granted to England.
The Sardinian Chambers continue to discuss with
great liveliness the proposed arsenal at La. Spezia.
The conspiracy discovered in-Spain is Saidlo have
been a joint enterprise of the Carlists and Repub-
licans; and the Norwe;:fi4n Storthing has rejected
the proposal of a regency law.
cessionaires and. provisional directors of railway
schemes already conceded will not be able to emit
any shares, or adopt measures for the formation of
companies. during the ensuing twelve months.
This measure is devised by the government in
order to relieve the' Money Market, as financial
affairs in Austria are in a very perplexed situation.
By the arrival of the Canadian at this port yf a
terday, we have three days later news from the
United States, but it is devoid of interest or im-
portance. • Ten vessels of war were to be de-
spatched- to the Isthmus of Panama, to obtain
satisfaction for the Panama outrage, and it was
said that Lord Napier had approved of this pre.
ceedine. The French Minister remained silent.
From Canada we learn that the Governor General,
it was expected, was about to visit England on
private business

The Queen. hay been pleased to issue a command
to inquire into the organisation, government, and
direction of the medical department of the army.
Last night's Gazette notifies the appointment of
Admiral Hamelin, of the French imperial navy, as
Knight Grand, Cross of the Rah.

The Bank RetUrna of last night show a slight
increase in bulliop, viz., £3,592, an increase in
public deposits of £387,515, an increase in other
deposits of X 40,750, and a decrease of £12,424 in
the circulation.

The 'serew_steamer,Etna arrived at Southampton
yesterday,. with Cue bulk of the Australian !link
per the European and Oneida.

AFTER an interruption of two months, Parlia-
ment has again assembled for the despatch of
business. All eyes, not in this country alone,
but in Europe, we may say, are turned to the
British Houses of Legislature, to watch the
result. Far more interest is concentrated on
the meeting of our Legislature, than will be
directed to the new French Chambers, that are
soon to be, The one Legislature meets to make
itself the organ of one powerful will—the other,
notwithstanding all the theoretical defects of
our electoral system, yet represents, in no small
degree, the wishes and feelings of the British
people. It seems, on all hands, agreed that
Reformers have gained in the late elections.
The House is something more than merely
ministerial. Its composition indicates unmis-
takeably, that the nation desires well considered
and progressive Reform. The PREMIER will be
powerful, if he understands his position and
will yield himself to carry out the reasonable
wishes of the people ; but, probably no minister
however powerful or popular, would find it safe
to trifle wits the expectations of the nation,
calmly formed, though not yet loudly expressed.
If there is a majority of a hundred reformers in
the new Parliament, then no minister, since
EARL GREY, in 1833, has had so much power
committed to his hands. It remains to be seen
what use will be made of this. No one knows,
or should know better than Lord PALMERSTON,
that " there is a tide in the affairs of man, which,
taken at the flood, leads on to fortune."
Wisdom knows her opportunity,

Great as are the hopes entertained of this
Parliament, it may perhaps be only prudent to
moderate our anticipations. There is somewhere
a chilling proverb to this effect—" Blessed are
they that expect little, for they shall not be
disappointed."
It is possible this blessedness may be ours,

F '

k_ A s . *- • 7 V
even_ with the present Reform Parliament, so
called. The first session will probably -dissp•
point expectation. Much time has been lost by
the interposition of the . general election. The
season is considerably advanced. Tire
of Augn4 May -see the. honourable- gentlemen
tired of London and long speeches, and looking
out for green fields. The drOpped bills of last;
session will be taken up, according to custom ;

but there will'nOC be time to enter on a wide.
field of., n w measures. We doubt if any coin-
prelienive setierne of" Reform can he introdUi•ed
this s,e,--;sion, in order to-extend the fraliehi-,-, give
profeetion-of the 15a-llcti7k;r 'abate the inequa-
lities of our electoral machinery. It would'be
unreasonable to expect a comprehensive plan of
Representative Reform to be carried during this
first short session, and in the heat of summer,
when debate flags though the sun is travelling to
his altitude. Still no cold water must be thrown
upon Reform—no wet blanket must be applied
to the national expectation. Any such indiscre-
tion would shake the Government far mare than
a China war vote. This -Will not be attempted.
Another thing is more be dreaded and
guarded against, that by delay the present
Reform majority may grow- less, and so the
Minister's power for good be diminished.

But the next session may be one real of work.
The extension of the franchise will then be
attempted. We cannot forget Lord JOHN Rus-
SELL'S proposed Reform Bill of 1553. But mole
than this will be needed to satisfy now. • It wd
,
then proposed to enfranchise teachers, gis.tchiates.t
clergymen, and other instructed classes,. and
thosewhohad,ucertakn amount in the Savings'
Bank. 'I-m.4,dt .20 OfCi

We hold these to be very sound principles,
and however the knowledge qualification may
sometimes have been sneered or smiled at, yet it
is sure to come up and be recognised soon in
this country. Our people have so well conducted
'themselves, amid all the revolutions and displace-
ments of the continent, that they well and richly
`deserve to be trusted with an increased measure
~,of political power. We believe this cannot and
Avill'not be withheld. The Prime Minister, like
-the `late Sir ROBERT PEEL, sees when it is expe-
dient' to concede reforms. In a constitutional
country like thiSi where the will of the people is
always tending to embody itself into law, no
Minister can safely go much in advance of the
neople ; but, for the same reason, neither can he
be allowed mach to lag behind. If the present
government were .to prove laggard in refoim,
they would soon be displaced, and 'Ministers
selected by the noble lord the member for
London. Nay, we believe that even Mr.
DISRAELI and the Conservatives will bid against
Lord PALMERSTON, should he flag on the question
of reform. As much was avowed in many a
Conservative speech at the late general election ;
and though election speeches, like death-bed
repentances, are not much to be relied on, vet
the wish, the determination, the wants of the
people, are much to be relied on ; and if members
should have frail and treacherous memnt-ipc tha
press and the people of England can remind
them. And so they will. The people will not
press for the impossible. They will not expect
every thing to be clone at once, and in the first
brief session of a fresh Parliament. But a pro-
mise to pay the bill of reform is nothing less
than a promise, and however long delayed, we
expect that the bill will not at length be
dishonoured.

THE affairs of the Royal British Bank still
afford occupation for the Court of Bankruptcy.
The huge swindle developes itself more and more
as witness after witness gives his testimony. The
evidence of Mr. HUMPHREY BROWN, one of the
Auditors so-called, and of Iklr. CRAUFORD, is
among the latest and most significant disclo-
sures respecting the manner in which every one
of the officials connected with the Bank contrived
to make matters " agreeable," and to rob both
shareholders and depositors indiscriminately.
Nothing could be more conclusive of the well-
devised schemes of duplicity which these Bank
Directors practised than that unfolded in the
testimony of the Auditors. We may remark en
passant that the business and duty of an Auditor
are the very foundation on which the confidence
of the shareholders and depositors rest, and base
the security of their investments. Any concern,
particularly a Banking one, which has a careless
or imperfect system of audit, must eventually
break down. It is necessary for the Directors to
know the actual state of the balance-sheet week
after week, as it is for the mariner to consult his
compass, and take a " daily observation." His
neglect to do so will lead him out of his proper
course, and ultimately send him in among the
breakers to become the prey of sunken rocks or
a wild and dangerousliron-bound coast. And so
it is with the managers of a Bank. Their orin-6-
sion to take proper soundings—i.e., form a
correct estimate of the solvency and pecuniary
capabilities of their customers, to have a true and
complete abstract of their assets and liabilities
always at hand, as the " chart" by which they
are to sail on the monetary ocean, as well as an
accurate statement of all their proceedings, is
sure to end as the Royal British Bank has done
in complete disaster, inflicting extensive and
serious pecuniary evils upon thousands of
innocent victims.

The examination of the Auditors of the Royal
British Bank fully bears out these statements.
The two gentlemen entrusted with this impor.
tant duty were a Mr. THOMAS PAGE and a Mr.
THOMAS CHANDLER. They had a peculiarly
easy and dexterous way of examining the
accounts of the Royal British Bank, investigating
its assets and liabilities, and seeing that all the
vouchers produced were accurate; for they tell
us that the half-yearly audit did not occupy
more than five hours! Every thing presented to
them was taken for granted as being correct. It
was initialed as such, and passed over without
any questions or remarks. To all ',general rules

..r

- eex - ceptions.--, Accordingly M.r.
departed from his'general rule, and 'on' One.-Occ'al-
sion he made enquiries about We nature of the
securities which Were laidi beibre 4411:4
titication for large' advances,' whichchad •been
made. Among these. was au .
owing by a Mrs. Goomtion,cfrom 1854 ;-'3.,,2971.
by- Mr. M6LLEN§,:gi nee '''•lBs3.;'4qC.Oth.ek§::lo4
the representation of the Manager, Mr. CR AI-
Volt 1), he pa.::.•ed thetn,ak.'-!?o,1
'at!. P E its, in:
evt•ry


g-uott.'
So nicely was everything managed', (that Mr.
PAGE, although an Auditor, and wh9 should
have known every transaction of the Bank, wa's
totally ignorant that Mt.EtniPirßEY BROWN, who
joined the Bank without a shilling, and became
a Director, had overdrawn his account 37,592/,
Me. CANIERON 3,0001„ Mr..EhIPBON B,OOOL, and
that no less a sum than 31,663 had been sunk
on the Welsh mines, making in all, a sum of
70,2551., which 'hUd been expended out of 'the'
funds of the Bank,..the„items of which were held
back from the Auditors, but the cliniax' of their
ignorance of the affairs, of the concern is best
told in Mr. PAGE'S own words. He says, that
such was his opinion of the stability of the
concern, from having audited the accounts, that
" was greatly surprised when the Bank stop..
ped payment." = Turning from Mr. PA9E, -to hip
colleague, anOther and
still
.more stdrtiingiieyeloprnentof,,this
scheme 4a'ud.
thit*Mi.• CRAUFORD.. read from his own hand,-
whatever suited his convenience, and that neither
he nor his .colleague -had the opportunity of
examining these papers. Mr.CHANDLER was a:
borrower from the Bank, to'the amount of 2;100/.,
the greater 'part cif whi.th he obtained from :qr.
CAMERON, on the security of Bank Shares. The
reason assigned, being that, althnugh the Bank
could not advance on such security, Mr.
CAMERON Could. Mr. CHANDLER was paid 25/,
-a-year for auditing the accounts, and this sum
went in liquidation of :his:, adifances—a long
credit, and a most accommodating plan of clear-
ing off a debt. Mr. CHANDLER tells us, that

placing such: reliance's in the- representations of
Mr. CRAUFORD, that he had not any conception
that 90,0001 in bills could be" over due bills."
He was ignorant of Mr. HUMPHREY BROWN
having a drawing account—the, Welsh mines,
althoUgh 120,000/. had beeiwßept upon them,
were to him a sealed mystertiliudi-he considered
---F _t
that matters. were going., qn smoothly
in all
departments, In a word, Mr CHANDLER'S duties
as Auditor, were so independent of the-Directors,
that he never had "-,any conversation whatever
with them." Mr. CRAUFORD was the only
medium through which he obtained any infor-
mation respecting the accounts. The character
which Mr. CHANDLER gives of himself, is suffi-
cient to convince any one of his fitness to cloak
the nefarious practices of the Royal British
Bank. He. first dabbles in the Wandle Water
Works—as a Director then. he
Australian Land Mining, Importing and Refin-
ing Company. The manufacture of Bricks and
Tiles next engage his attention, and the last, we
suppose, by no means least, he entices that
renowned commercial concern, the " Hot Muffin,
Crumpet, Quick Baking and Punctual Delivery
Company." Here sure enough is a speculator of
the first water, and we suppose his connection
with the Royal British Bank, enabled him to
come out strong on behalf of " Hot Muffins,"
and quick baked " Crumpets."
The examination of Mr. CRAUFURD, who was
the Accountant of the Bank, until appointed
manager in July last, is, if possible, more start-
ling than that of the Auditors. He admits that
the passing off of the 90,0001. past due bills, as
good securities, was a deception ; and, as an
excuse for doing so, tells the Bankruptcy COM_
missioner that "it was a mode which had always
been adopted. The course was formed for the
Auditors. It was never altered by me. It was
drawn up by Mr. CAMERON, in his own hand-
writing, and handed down to me by my prede-
cessor, and I continued the same." Now we
fancy that nothing could exceed the impudence,
and the unblushing effrontery, that the foregoing
quotation exhibits. It far surpasses, in these
respects, Mr. CHARLES MATTHEWS' celebrated
Farce of "Cool as a Cucumber." He declares
that the audit was only a " farce." So completely,
too, did Mr. CAMERON manage affairs, that
no one dare mention how matters stood. Mr.
CRAUFURD, on one occasion, broke through the
rule, and was told he should be dismissed if he
amain held communication with the Directors
without first consulting him.

Taking the whole of the revelations of this
unfortunate and wickedly managed concern
into account, they afford a strong instance of the
absurd arid delusive statements which are put
before-the public under the Joint Stock Bank
Act, and to which we have frequently alluded,
and earnestly condemned. Bank statements, to
be valuable, must be minute, and unimpeachable,
else they are nothing less than a convenient
cloak for swindling—a bait to entrap the unwary,
so that they may be robbed of their surplus
capital, and the needy and the professional
speculator enabled to proceed onwards in a
career of rash and ill-digested schemes—mone-
tary and commercial. A studied secrecy of the
position of the Royal British Bank, and a falsifi-
cation of its accounts, so that it might appear a
prosperous conceern, were the rocks on which
it split. The shipwreck of the concern, as well
as that of others of a similar character, during
the last year or two, show the pressing necessity
and paramount importance of the adoption of
such laws as will not allow of secresy as to the
real position of Joint Stock Banks. We know
of no concern, of either ancient or modern times,
the history of which reveals such glaring
instances of the frailties, the frauds, and the
conspiracies of organization, as that of the Royal
British Bank. The lesson which its past career