The Sun.
London, England, 1855-11-24 00:00:00

Rest

T. _R B,l)'N, LONDON, SATURDAY Rv AMINO, NOVRAIRE-R- 24, 1855.

(Aberdeen..
Do. N 0.2, 7 p. o.
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Do, 4 p. C. Sham.,.
_',liedonian £lO
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Guar. 5i per cent.
Do. do. Prof. No. 2.
Do. do. Pref. No. 2..
Cork eißandonsip.e
Duii.Prtit .47 ber.J.
Anglian Us. A Sb.
Do. do. Cis. B 6 p. c.
Do. do Cis. C 7p. c.
Pastern Counties Ex -
tension, 5 p. c. No.
_Jo. No. 2 .
Do. Now 6 r. c. St
EaA Un., G. 6 p. c
Do. 5/., 10 per cent.
')o. 161. Dcbentr.Sl,
Do. do. 4 per cant
mast LancasE 6 t) C+
&W. York. J. sths
PAIL &Dun.lp.c
Farne,s
I:ap. & S. W. G. 5 p. c
r.ireLt Northn.s p. c
'to. 5 p. c. Redeem.
at 10 p. c. prem...

11.03 110
104 - 106

90 -- 92

20
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-1i -- 121

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59

12 - 314

104 - 106
95 -- 98

Do. 4; p. e
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at 5 p. c. pm... ....
• It.N. of Scot.l.st.Pre
Gt. 0,,f,1 W. (Ireland)
Do. 4per c. Pr,f. Si
Gt. Westn. (Barks A
[rants Lx. 5 p. c)
Do.con. red. 4i p.c
D'). con. rod. 4 p. c

id in
01 9i

10
St.
20
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all
100
10
6

1100
100
100
all

6 -- 66
F 5 -- 90
80 -- F 5
60 -- F 5
96 -- 10
15i -- 164
94 -- 10
67 -- 69
17 -- 18
84 -- 9
34
lA --144
1:!0 - 132

Do. in'ed. 4p.c.
Do. firm. Pref. 51)...
Do. Chester 8 p. c.P S
Do. do. 5 p. c.
Do. Birm. Gua. Stk
Do. Ches. Gua. Sh..
Do. do. do
Do. do. do
Lau. & York. P. £2'
Do. 6 p. c. Stock
& Brie. G. 5 p.c.
Do. Prof., 5 p. c. St.
Do. Now Guar.6 p. e
Do. do. 5 per cent
Con. &.N. W., Coy. e
.eun.oaton 5 p. et
Lon. & S. W. 7 per ct
Londy. &Color. Sh.
Londy. & Ennis. S;
Kan., Shef., & Liz
New, £lO
4 ID°. £6

St.
12•
127
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100
100
101
100
100
100

',larypt.&Carl.4p c
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Consol.6 p.e.Sl
Do. Consol. BriEtol
Bina. 3 per oont..

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Do. 4;1 p. c. Pref. S,
Do. Pref. 4 ): per cot;
Do. 5/. Pr. f. 4 p. c.
Ditto L. & H. Pref. S,
Norfolk Detei.iture
Do. Pref. 4 p. e. Stc,.•
Do. G p.c. Ext
D. 5.i per et.pref
Do. Way. Val. 5 p. o
North British

j AT. E. Be,-w, 4 p.c. P
Do, do. do
Do Leeds 6 p.c ;No.)
Do. do. Quarters 4
Do. & Pur
North Staffordshire.
Oxford, Worcester,
Wolverh. Xl5, 6 p.O
Do R. Pref. 101. Sh.
Scot. Cent. , New Pre
south Devon

20
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20

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25
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Do. 4i per cent
Do. Fixed 4i p c sh.
3. Waits Gua. 4 p. c.
Do. do. 42 p. c
3.Yorksh.4p.c.Gus.p.
Stock. & Dar. , 5 p. c.
Do. do. do
Stock. & llartl. g. t
p. a. till July 1,'56
Mated& & Kilk. 6 p c

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20
20
20

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MISCELLANEOUS.
25 17. Australian Agricult, 25A 263 264
le al' Australn. Royal Mai „„ 5
10 81 Berlin Water Works 7 7i a d
50 40 grit. American Jran'
10J 321 Canada 3O 135
St. 100 Canada Gov. 6p. ci
Jan. and July to7 108 ;0743
5 all Crystal Palace 2 21 21
5 5 Do. Preference 4l 41
all Crystal Pal. of Franc ...
1 g Dnston Iron Ore
20 11 Eastern Steam ..•
5 all En. &Aus Cop Sm Co
25 24 Electric Telegraph l7 18 174
1 all Electric Toleg. of Ir.
5 all Gen. Iron Sc Collier
15 14 Gen. Steam Navigat.
le all General Screw Stean
20 10 Irish Beetroot Suga.
20 10 Magdalena St. Navin
10 all Aediteran. Elec. Tel. 8 10
10 9 Mexican&S,Amoricn 54 - 64 6
1 all Nat. Pat. Steam Fue-
10 5 Netherlands Land.,,, 11 1i
10 all Do. Do. - 3
5 1 Do. 8p c P iss at 1d 1 dia— par
2 1 N. S. W. Coal & Inter.
Steam Navigat. Co.
100 80 New B. &N.S.La nd
1 all N. B. Australasian_ g
20 15 Nrth. of EuropoStaan
1 all Oriental Gas
1 2a. Do. " New Shares "
t all Peel Rr. Ld. & Mine. 2 24
5: all Poninsnlarty Orleuta 63 9
50 10 Do. Now
2 all Portland Iron Co ••• •..
100 60 i!oyal Mail Steam •••
1 all Scot. Austral . Inv. st. 10 ig
1 4 Ditto New
2T. all South Austral. Lam? 34 35
I al: Submar. Tel. Scfp
1 all tio. Registered — 4
20 5 Tr: st& L. Co.U. Can
1.00 2Ri Cr :13 - 15

MARKET NEWS.—(This Day).

LAW INTELLIGENCE—( This Day.)

QUEEN'S BENCH.

(Sittings in Banco, before Lord Chief J'usklee Campbell,
Justices Coleridge, Wightman, road Brie.)

THE QUEEN ON THE PROSECUTION OF CH ARE ES NORWOOD,
A PILOT, V. THE MASTERS OF THE TR,`.NI" OY HOUSE.

The Attorney-General appeared to show 'cause against a
rule nisi calling upon the Masters of the Tr tnity House to
show cause why a mandamus should noti sew e against them
commanding them to reinstate a pilot man :ed Norwood,
a Cinque Pjrt pilot of Deal, whom they h ad discharged
on alleged intoxication. The learned 11.ttt xney-General
said the pilot was originally appointed. ;by the Lord
Warden of the Cinque Ports, and two qu'etitions arose :
the first whether the court could posslbl3- interfere in
this matter ? and secondly, whether on ti ie merits of the
case the mandamus ought to go ? Auth, nity was vested
in the Trinity House by custom, the a clurity of the
Crown, and various statutes, to use their discretion in the
annulling or revoking the licences of the pilots.
Lord Campbell—Are we asked to cc insider whether
the members of the Trinity House did right or wrong in
exercising their discretion under the acts of Parliament ?
The Attorney-General said that that wns what was
asked.

Lord Campbell said if the Board had hoard the case
against tho pilot and had adjudicated the re on, the court
could nct compel them to review their dt tc.;sion.
Sir F. Kelly, who appeared fur the A, said three
points arose in this case : first, that Nor wt )od had been
dismissed unheard and without a trial ; secondly, that
he was dismised without cause ; and thir 7, that under
the various acts for the regulation of tie pilots the
Corporation of the Trinity 1101138 had no 1 ?ow: r to dis-
miss a pilot appointed by the Lord NVardea c f the Cinque
Ports ; or, at all events, not in the way Yorwood had
been dismissed.
The Attorney-General having detailed Vie merits of
the case,
Sir F. Thesiger, with whom was Mr. Mc me, were heard
against the rule.
_ _

Sir F. Kelly said the applicant was ap pointed pilot
of the Cinque Ports in 1837 by the late Duke of Wel-
lington, who was at the tame Lord V, ra rden of the
Cinque Ports, and from the terms of tha t appointment
it was an office given to a person who h: id established
his competency to discharge the duties of -the office so
long as he behaved well and was competent., to discharge
them ; and, in pursuance of that app of ntment, he
had exercised the functions of a pilot, .and been a
member for eighteen years of the society or brother-
hood of pilots, and paid 2001. towards; the super-
annuation fund cf that society—a society which had
been in existence from time immemorial. The words of
the licence were that the pilot should cool it •ue his office
so long as he should be found capable of j iri )perly exer-
cising the same, and "fully conform hims elf' to the bye-
laws, rules, orders, &c.," or "until this bice .nce shall be
annulled, superseded, or adjudged to be fc, al. _sited by the
Lord Warden, &c." The proposition he ,(the learned
counsel) contended for was that it did not al 'pear by the
acts of Parliament having reference to the pi lots and the
Trinity house that the powers granted to the Lord
Warden were not transferred from him to. -the Trinity- •
house ; but, supposing such was the case, the proceedings
for the Lord Warden to adopt on a co mplaint being
made to him against a pilot was to try a hearing, trial,
and judgment ; not certainly according to. the forms of
a court of justice, but such as would give the party ac-
cused an opportunity of hearing the charges :made against
him, and of producing evidence on his behalf in answer
to the charges so made. These acts gave no appeal, and
it was only reasonable to suppose that a man (who was
by these proceedings ruined for life) should have the
opportunity of proving his innocence. This appoint-
ment was made before the change relative to annual
licences.

Mr. Bramwell, Mr. Collier, and another learned
counsel baying been heard on the same side,
The rule wa• discharged.

CRIMINAL COURT OF APPEAL,
TEEM QUEEN T. GORDON.

This morning was appointed for the learned fudges to
give their judgment, in the appeal of the defendant against
his conviction, relative to his not surrendering to his
bankruptcy. The defendant was a partner with a per-
son named Davidson, against whom indictments will
be preferred at the ensuing Criminal Court relative to
forged warrants.

On their lordships taking their seat; the Lord Chief
Justice said they should wish the case to be re-argued,
and appointed Friday next for that purpose.

POLICE INTELLIGENCE.—(This Day.)

THAMES.

SHAMEFUL OVERCROWDING OF FERRY-BOATS. -- IM.

PORTANT TO THE PUBLIC.—In consequence of a complaint
made to Mr. Ingham on a former day of the shameful
overcrowding of the ferry-boats between the Isle of
Dogs, on the Middlesex shore, and Greenwich, on the
Kent shore, the magistrate directed inspector Smith of
the K division to make inquiries on the subject, and call
the attention of the Court of the Waterman and Lighter-
man's Company to the evil. This morning Mr. Gillett,
beadle and inspector of the company, who was accom-
panied by inspector Smith, waited on Mr. Ingham, and
stated that the ferry between the Isle of Dogs and
Greenwich was a private one called Potter's-ferry, and
leased to a company. There had been continued litiga-
tion about that ferry, which originated in a grant of
King James the First, and had been most injurious
to the public interests. Complaints were made by the
harbour masters of the overcrowding of the boats by
the watermen• who leased Potter's-ferry, and they
referred the matter to Mr. Evans, the superintendent
of the Thames Police, who was unable to repress the evil
complained of, and said that it was a question of law. He
(Mr Gillett) had received instructions previously, and had
waited on the watermen working the Potter's-ferry, and
warned them of the dangerous practice of overloading
their boats on a stream where large and small steam-
ships were in constant motion. The Putter's-ferry
watermen said they would do as they liked, and carry
as many as they liked. He then laid informations
against three of the watermen, George Harvey, for car-
rying 21 passengers in his boat at one time, Thos. Keys,
12, and Wm. Giles, 16.

Mr. Ingham—Howmany can their boats carry in
safety at one time?

Mr. Gillett—They all navigate skiffs capable of carry-
ing eight persors only in safety. The company would have
licensed them for eight persona only. The three men
were summoned to the court of the Watermen's Com-
pany for violating the bye-laws of the company, and
they were all committed. The defendants had appealed
to the Quarter Sessions against the convictions, and it
was expected the case would be turned into a special
one for the Court of Queen's Bench.
Mr. Ingham—Then nothing can be done to remedy
this fearful evil at present.
Mr. Gillett—Nothing, sir ; but the public have in some
measure the remedy in their own hands. The week be-
fore last an important case was heard in the Court of
Queen's Bench respecting the "Newcastle plying-place,"
800 yards below Potter's-ferry. The proprietors of that
ferry claimed the whole island, and contended that it was
illegal to carry passengers from the Newcastle plying-
place, which was constructed by Alderman Cubitt on
his property, where he has built a new town. The judges
decided that the Newcastle plying-place was out of the
jurisdiction of the Potter's-ferry, and qualified watermen
free of the company had a right to ply for hire there.
The Newcastle plying-place is marked by the company.
The watermen plying there are subject to the rules and
regulations of the company, and dare not overload their
boats.

Mr. Ingham thanked the beadle of the Waterman's
Company for his explanations, and said if any accident
arose to persons or property by the overloading of the
Potter's-ferry boats the owners of the boats would be
liable to serious consequences.

?4).,
,
vt,-.:4eggt—ims
"OsNS.'
—4'4"

SUN OFFICE, Six o'Clock.

THE KING OF SARDINIA.

We have authority for stating that a telegraphic
despatch was received this afternoon at the Sar-
dinian Embassy, from Paris, intimating that the
King of Sardinia will leave that city on Thursday
next, the 29th inst., and arrive at Dover on
Friday morning. A special train will be in readi-
ness to convey his Majesty and suite to London.
On arriving at the Bricklayers' Arms station the
Royal party will proceed along the same line of
route to Windsor as was taken by their Imperial
Majesties the Emperor and Empress of the French,
on the occasion of their recent visit to this country.

THE WAR AND OUR RESOURCES.

TO TRE EDITOR OF TELE SUN.
" Commerce furnishes those means by which war may be
successfully carried on in such a manner as to cause a safe and
honourable peace."
These words of Lord Palmerston, on a late public
occasion (Guildhall Banquet), are deserving of the
gravest consideration under the circumstances in which
the country is placed.
The resources of England for the vigorous prosecution
of the war depend on the prosperity of our commerce.
Yet, at a time when commerce is in as sound a state as
ever was known, and no pretence exists for depressing
the prices of manufactures on the plea of speculation, I
that commerce is in course of prostration by an artifi-
cial value given to money.
Exorbitant interest is imposed on trade, in the vain
hope of enabling the Bank of England to recover the
treasure it has lost under an absurd act, which, fixing
the price of gold in this country, offers, during war, a
premium on its exportation.
Nor can it be wondered at that gold should go abroad,
when we hear " that the allies are taxing all the
wealth and icgenuity of the civilised world to secure
subsistence."—(Times, Nov. 21,) The fact is, that the
requirement of Government for payment of supplies to
our army is at the rate of about half a million a month,
and that about seven millions in gold have been already
sent to the East for that purpose--that the requirement
of France is nearly double that amount ; and that none
of this gold returns, or ever will return to the West,
being hoarded by the natives into whose pockets it finds
its way, in the absence of Banks and means of invest.
ment.
The consequence of the drain will be to leave us
shortly without any circulating medium, and in the ab-
sence of gold, under our laws, to reduce us to a state of
barter. Hence the declaration of the Times several
weeks ago, that if the war were to be carried on with
vigour, a change must be made in our monetary system.
Now, as the Times is looked upon by many as an
authority on these suhjects, I am desirous, at such a
crisis, to invite attention to the question that journal
has lately raised, viz., Whether the War or our Cur-
rency laws must be abandoned?
This is the upshot of the declaration referred to; but
to open the case fairly, I will quote the entire para-
graph.
"The question whether the war expenditure is beyond
the means of the country must be boldly met. If it be
upon a scale to involve a permanent drain of gold, there
is no alternative but to lower it, or to prepare ourselves
for that mitigated form of national bankruptcy which
consists in a suspension of specie payments."—Times,
Oct. 6, 1555.
The alternatives announced are—curtailment of our
war expenditure on the one hand, and, on the other, the
abolition of an act which is crippling our commerce, and
destroying our energies.
That a journal whose pride it is to support a just and
necessary war should have hesitated between these alter-
natives, is certainly inatter of surprise. Nothing less than
a proposal for the abandonment of Peel's Act of 1844
could have been expected to follow such an announce-
ment. Up to the present time, however, no sign has been
made but of a determination to uphold that act to the
uttermost (see City Article, Oct. 25), while the only
remedy which is prescribed as the alternative of reducing
our war expenditure is stigmatised as a disgrace to the
nation.
Yet the remedy is similar to that which recently car-
ried France in safety through a revolution. The remedy
is the same which carried England triumphantly through
the last war, and by the extraordinary impulse it gave
to commerce, enabled us to double our taxes without
burdening the people.
Were we at that time, it is asked, in a state of national
bankruptcy, even though a principle, good in itself, was
subjected to the abuse of over-issues ?
Are we in a state bordering upon national bankruptcy
now, because our gold currency is liable to be swept
away, and the substitute of paper required?
Does gold alone constitute wealth ? And is all the
property of the richest country in the world of no value,
because we have not gold to represent it I
This indeed was the language of a late Chancellor of
the Exchequer, who during the last panic actually con-
gratulated the country on the depression of the Funds
and of manufactures, as offering an attraction to foreign-
ers to aid us with their capital. That currency, not
capital, was required, was proved by the immediate
effect of suspending the Act of 1844. The capital sup-
posed to be lost re appeared in a moment, and bankrupt
England was again the gory' of the world.
The law was suspended then. Why not suspend it
now ? The present alarm would immediately cease.
Orders would not be countermanded. The Manchester
manufacturers would not be ground down by exorbitant
interest, and thus be compelled to grind down their
workmen. Good wages would make the high price of
provisions comparatively little felt. The sinews of war
I would be strengthened. Russia would suffer a greater
blow than would result from a series of defeats. Nor
would the absurdity be longer exhibited of England and
Franco fighting side by side on the one hand for liberty,
and on the other engaged in a ruinous struggle for gold.
What prevents the realisation of these blessings ?
an act of Parliament—the interest of those who profit
by the fluctuations it produces—a supposition Go-
vernment necessarily understands the subject, and
that the people need not give it a thought—that it is a
banker's question, and not a philanthropist's—that the
act brings gold into the country, and keeps it there—
that commerce can flourish without an adequate and
steady currency ; that all who deprecate such fond
notions are interested parties ; and that currency re-
formers generally are visionaries and enthusiasts. These
are some few of the prejudices and fallacies which induce
people to hug the chain by which they are enslaved.
As to the Act of 1844, I will only say that it was
passed on very insufficient evidence. These are no new
views. The effects of the Act were foreseen and de-
scribed before it was passed. They are recorded in the
Parliamentary Evidence of 1848 on Commercial Die-
tress, and i❑ the report of the Lords' Committee.
In the observations made with regard to this Act I
by no means wish to join in an unmeaning cry against
tbo Bank of England. She is compelled to carry out a
blind law at whatever risk to herself or the country.
She was told that the currency would regulate itself,
and that in future she was at liberty to consult only the
interest of her proprietors. If, therefore, she has fol-
lowed the rule laid down for her guidance, Sir R. Peel,
and not the Bank, is to blame.
Whatever difference of opinion may exist as to a re-
medy, all Reformers are agreed in the senselessness of a
system which decreases the circulation, with the increase
of trade, population, and wealth. A comprehensive re-
medy, however, cannot be successfully proposed till the
country is more enlightened on that subject. In the
meantime we must be content with palliatives.
Suspension of the Act of 1844, with a view to the
consideration of the whole question, is the least that the
present crisis demands. The Times declares the ques-
tion must be " boldly met," but they have shrunk from
meeting it themselves. 1 partial remedy, however, I
would venture to suggest—not the alternative, they pre-
scribe, of " a suspension of special payments"—but that
of a convertible issue, founded upon the admissions of
that journal itself.

In the City article of the 26th October the ssbject is
thus treated :—" Supposing the circulation to be re-
quired solely for international commerce, no necessity
would exist for gold being held against any part of it."
It is here admitted that the circulation is twofold, one
portion being required for domestic purposes, the other
for the settlement of the balances of trade. Then wby
not act upon the distinction ? Why not substitute paper
for a portion of the gold now absorbed in domestic cir-
culation ! Such a limitedi ssue would bo in accordance
with the rule laid down by Adam Smith, whereby a
paper circulation may actually " bear a premium." The
treasure obtained would enlarge our gold basis, and
render our present circulation far more convertible than
it now is, without any gold whatever to meet so large a
portion as 14 millions.
Having made these general remarks on the important
declaration of the Times, I must be allowed to enter my
protest against one obvious conclusion from their pre-
mises—that if the drain of gold becomes permanent, the
war is beyond the means of the country. If this be
true, the nation should know that its disgrace arises,
not from weakness, but from laws, which are mischievous
in peace, and impracticable in war. The drain of gold,
however, is not altogether a legitimate and unavoidable
one, as it is assumed to be. It is in a great measure
superinduced by that law, which, fixing the price of gold
in this country, contrary to all sound principle, causes
its exportation whenever the market price exceeds our
arbitrary price.

Monied* men in tho City, and the directors of the
Bank of England are, it is said, at variance in opinion as
to the possibility of the act of '44 being upheld much
longer, without havoc to commerce, under necessity of,
the Bank saving herself " by the ruin of all around her.'
It cannot be believed that Lord Palmerston will suffer
this wanton destruction of the resources of war. If hee
be true to himself and to the country, be will take the
bull by the horns, and throw to the winds, not
onlyi
11 s tb
act of '44, but any other impediment. to the
ob-
ject in which he is engaged—the attainment
servant,
ogf oarEafe and
honourable peace.—l am, sir, your obedientA BANKER.
Nov. 23, 1855.