The Sun.
London, England, 1855-10-03 00:00:00

THE PERILS OF A DIVER.

A New York paper publishes the following extraocts,
from a letter, giving an interesting account of an almost
successful attempt to recover the money lost in the
steamer Atlantic on Lake Erie, about three years ago
—" Pt. Dover, Aug. 26, 1855.—You no doubt have
heard of the many unsuccessful attempts to obtain the
money chest lost with the steamer Atlantic, three years
ago, said to contain 60,000 dollars. The statute, I be-
lieve, limits the claim of ownership over property thus
lost in three years. In this case the time limited expired
on the 20th inst., and Green, the celebrated submarine
wreck,
diver, reached here on the 21sto,inthecanalschooner
Yorktown, Captain Patterson, n his way to the
25 miles distant. They returned yesterday ; and being
well acquainted with Captain Patterson I obtained the
following account from him
About 10 o'clock
(says Captain P.) on the 24th, all being ready,
Green descended by means of a line, which, having
a grapple on the end, had become fast to something
below. Ile was dressed With three pair of flannel
drawers, three shirts, also flannel ; three pair of woollen
pants, three coats, and three pair of woollen stockings,
surmounted by his submarine armour ' • on his feet he
had a ?air of stogy shoes, with a lead so le half or five-
eighths of an inch thick, and a belt of SOlb. of shot
around his body, to sink him (and the breastplate of the
armour cannot weigh less than 501b5.) Taking held of
the line he descended, finding it perfectly light, so that
' he could see all around him to the depth of GO feet, when
it grew dark, and for the remainder of his fearful journey
amid the caverns of the deep he was guided solely by the
lino until at the depth of 140 feet, when he struck bot-
tom, or something which he soon made out to be the
wheelhouse of the ill-fated boat ; groping along, Ile slid
on the hurricane deck, from thence to the guards of tie
boat ; by poking around he discovered the precise posi-
tion of the boat, and found himself not far from the
sought-for offices, and made fast the end of a lire which
he had carried down with him to a stauncheon near the
gangway, and giving the signal he Ascended, carrying

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with him a piece of the wh‘llin use which he bad secured ;ti
(a piece of which, about 8 inches icrigt 4 inches wide, and -."'"‘-'l`-'' ~..,,
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1 i inch thick, was sawed off and presented to me by a, Jo
the captain of the Yorktown). He had gone down, in -
11, 152 feet, and remained just 40 minutes. After rest-
ing he again descended, first having partaken of a hearty
meal without removing his dress, save the bead-piece.
His excitement was intense at his success thus far, and
when he descended the second time he was quite hot (the
day Ras intensely hot). Descending by his second line he
was soon on the deck; feeling his way along he soon
reached the ' third' window, which being unbroken he
shattered it, and reaching in his hand at last laid it upon
the much coveted safe, just in the position in which it
had been described to him. Not being able to reach
far enough to make this line fast, he again ascended
for a hook to hook through the handles ; reaching
the deck he made known his success and require.
ment, and as no hook was ready, sat down until one
:yt
could be secured to a line. As they were about ready
he rolled over, saying he was sick. They stripped
him and did all in their power for him, but were
finally oLliged to buoy the lines, and make all sail for
this place for medical attendance. They reached here at
noon yesterday, and two physicians were immediately
called, who expressed their opinion that he could not
lire ; however, they laboured fitithfuly with him, and
at night pronounced him better, and this morning, al•
though not out of danger, it is thought he will live, and
is in a very fair way for a speedy recovery.' He says if
his life is spared he will be the owner of the chest. He
will no doubt be more cautious in future how he makes
a dive when he is warm, and on a full stomach. His
first exclamation on his second ascension was, ' I touched
the gold.' "

MOT MARKET.

It was mentioned last Thursday that the amount of
gold originally arranged by the Bank of France to be
obtained from this country was 1,600,0001., and that
the greater part was believed to have been already sent.
Later despatches, however, from well-informed quarters
indicate that even this extraordinary statement was far
below the truth. The sum originally obtained is now
said to have been between 2,500,000/. aed 3,000,0001.,
and subsequently an additional total of 1,000,0001. has
been purchased, the remittance of which is completed,
or nearly so. Should this prove correct, it will suffi-
ciently account for the movements lately witnessed in
the money-market, and which have excited perplexity
in the mind of every one acquainted with the natural
course of the trading relations of the country. The en•
tire transaction is said to have been going on for more
than six weeks, during which the rate of exchange has
reached a point which with a slight further alteration
would cause gold to flow from Paris to this side. That
the operation has been purely artificial is evidenced by
the fact that, if this country had been indebted to
Franoe to the extent in question, the gold would have
gone hence as a matter of course, and the Bank of
France need not have troubled themselves to offer a
price for it beyond its natural value. In whatever way
the payment for the supply may thus far have been
effected, it must consequently have been in great
part of an equally artificial character. The money
houses of Paris usually keep considerable quantities
of Bank of England notes and short bills on Lon-
don in their portfolios, but, even if the market has tem.
perarily bee❑ cleared of these for the purpose, the ex-
planation would seem very inadequate for an amount of
such magnitude. Indeed the merchants and bankers of
Paris seem to be contemplating a reaction as inevitable,
and rumours have been circulated in the Prase and
other newspapers of metho Is which are to be devised to
meet it. Among other things a decree has been talked
of to render it not compuhory for the Bank of France
to pay in gold, but they are not at present under such
compulsion. They are at liberty to pay in silver, if
they prefer to return to that course, and, as gold has now
risen to a premium at Paris, they would probably do so
but for the inadequacy of their stock of that metal.
Moreover, if they contemplated refusing gold, or even
suspending specie payments altogether, it is little likely
that they would use great and exceptional efforts to
obtain gold, since the very object of the measure would
be to dispense with the necessity for it. An increase of
the capital of the Bank to double its present amount is
another of the plans suggested, but it is impossible to
say with what authority. The prevalence of these re-
ports, at all events, denotes that the position of the
institution is not considered to be such as could occur
in the ordinary course of sound management, and as
sAne of them are of a character that might lead to great
mischief, by occasioning a rush for coin, it is to be
hoped they will soon be dissipated, and that the first
step towards this consummation will consist in the ex-
pected advance of the rate of discount to 5 per cent, on
Thursday next.

Messrs. Tripp and Co., in their monthly circu-
lar on the money market, say:—
"The fall of Sebastopol, the continuous exportation of
gold, the increased demand for money, and the raising of
the rates of interest by the Bank, first to 4 per cent.,
then to 41, and lastly to 5 per cent., are events of them-
selves sufficient to account for the more than usual per-
turbations which characterise the transactions of the
stock and share and money markets of the past month.
The raising of the rates of interest is justified by the
fact, that since July the bullion in the Bank has de-
creased 5,000,0001., and the bills under discount have
increased at the same ratio. But because the rate of in-
terest now charged by the Bank is 5 per cent., or that
the bullion has decreased 5,000,0001, are either, or to-
gether, sufficient to cause the marked decline of price
within the last few days in Consols and the other Go-
vernment Securities, we do not for one moment admit.
When the rate of interest was previously at 5 per cent.,
Consols were 93, and at the corresponding period last
year, when the bullion, as shown in the Bank returns,
105,5201. less than now, Consols were 951. In compar-
ing the prices of this year with those of last, practical
men know that last year the market was oversold fully
0,000,0001., whereas this year there has been a steady
supply of Consols of 1,600,000/. per month, commenc-
ing with May; and as this supply does not end until
18th December next, but has latterly been increased by
the guaranteed Turkish Loan at the rate of 1,000,000/.
per month, there is not a question that the supply of
stock is now much greater than the demand, and as last
year prices were artificially high, from the oversold state
of the market, they are now suffering depression from
an over-abundant supply. In 1847, when the loan of
8,000,000/. was contracted at 89. ; on Oct. 15, the day
of payment of the last instalment, Consols were only
Si, and on October 19, had fallen to 79.3, but these
prices were the result, not only of a supply of stock,
but of a panic-stricken money market ; the gold and
bullion in the Bank were only 7,000,0001., the notes
and coin in reserve were less than 31 millions, and
the bills under discount exceeded 21,000,000/. There-
fore, we contend there is nothing in the present Bank
returns which should excite more than ordinary prh- •
dence, though the continuous supply of stock up to De-
cember next will doubtless depress prices. The great
discrepancy between the prices of Consols and the
Turkish 4 per Cents., guaranteed by England and
France, and the dividends payable at the Bank of Eng-
land, requires notice. If Turkish 4 per Cent. Stock is
at 101, Consols should be 75i ; or, conversely, if Consols
are SB, Turkish 4 per Cents. should be 1171. 6s. Bd.
Allowing 5 per cent. in favour of Consols, in consequence
of the more popular character of the security, still the
discrepancy can only be explained by the fact, that capi-
talists have no spare capital to purchase Turks, and that
the present hollers are too weak to support their mar-
ket—another illustration of the effect on prices which
an excessive supply of stock produces. The exchange
of Consols into Turkish 4 per Cents. at present prices ,
would, under any circumstance, be attended with profit.
Turkish 6 per Cents. guaranteed by the Egyptian
tribute, after reaching 95,i, fell rapidly to 81, in conse-
quence of large amounts of stock suddenly thrown on
the market by parties unable to hold. This stock, to be'
in proportion with Peruvian 41 per Cents. at 76, should
be 101. Railways, considering the general unsatisfac-
tory last half-yearly accounts, have only declined in pro-
portion to their deserts. Good dividend mines, and two
or three of the favourite progressing mines, have been in
demand and have improved in price. Joint stock banks
are in less request. Canada Land Shares rose rapidly
to 1801., but have since receded to 1501. to 18:5/."

THE CZAR PETER'S WAY OF NEGO-
TIATING- PEACE.

(Frown Baneks' "Life of Pctcr, Czar of Ilfuseiovy."
Printed in 1740.)
When M. Osterman returned to Aland, in the month
of April, it was less to negotiate than to menace the
Swedes, for his Czarish Majesty (having captured Riga,
&c.) had ordered him to declare, that unless they so-
opted in two months' time of the conditions proposed
they must expect a visit from 40,000 plenipotentiaries,
who wculd force them to it with sword in haul . . (He
then naaee a descent on Sweden.) The account published
at Petersburg, by order of the Czar, "to eternise" the
memory of the work of these plenipotentiaries, is as
follows :—Admiral Apraxin, for his part, bad burned or
destroyed 6 good towns, 11 castles or palaces of brick,
109 of wood, belonging to noblemen, 826 villages and
hamlets, 3 mills, 10 magazines, 2 mines of Copper, and
5 mines of iron. Major-General Lesly, on his part,
had reduced to ashes 2 towns, 21 castles or noblemen's
houses, 535 villages and hamlets, 40 mills, 16 magazines,
and 9 mines of iron (for one of which the Swedes had
offered 300,100 rig dollars, to save it from ruin). They
destroyed also the corn and forage, and killed all the
cattle and horses that they could not carry off with them.
They put on board their vessels all the iron they were
able, and the rest, to the number of 80,000 bars, they
threw into the sea.
The design of the Czar, in all these burnings and de-
vastations, was (says his eulogist) to bring the Court of
Sweden to accept of such conditions as he was willing
to impose upon it. To which purpose, he sent Conn.
sellor Osterman thither, charged with a commission to
make the hardest propositions. And he, agreeably to
the Aland project of peace, demanded nothing less than
the absolute cessiou of Esth onia, legria, and Carelia,
comprising the towns of Revel, Wybourg, Narva, and
Kecksholm, and the cession for forty years of Livonia.
These and other diabolical doings of that crafty bar-
barian, commonly called Peter the Great, soon compelled
the Crown of Sweden to submit to be robbed of a large
part of its dominions, so that he soon came into posses-
sion of extensive shores on the eastern side of the Baltic ;
and he speedily took advantage of it to build many ships
of war for his future conquests.

FORGERIES..—Letters from Ticino complain of tie
prevalence of forgery in that canton. The religious
world is distressed by the audacity which has made
the victim of a false papal bull. Members of the cam•
mercial community think that this is a matter not worth
a moment's 'egret, but complain bitterly that forged
Austrian bank notes have been circulated to a rer Y
!mount smog them,