The Sun.
London, England, 1864-10-19 00:00:00

[REUTER'S EXPRESS

The first decree relating to the counts above
sketched was promulgated on the 13th, and em-
powered the Bxnk of Brazil, in virtue of the law
of June 5, 1853, to issue notes to the extent of
three times the amount of its disposable capital in
gold.

This was followed on the 14th by another decree
in virtuo of the same law, in consequence of the
representation of the Bank of Brazil, granting the
said Bank permission to suspend the payment in
gold of their notes, and making tho notes of the
Bank a legal tender in all public departments in
the city and provice of Rio de Janeiro.
A meeting was held the same day at the Bank of
Brazil, at which were present some of the chief

creditors of Messrs Souto and Co., as well as the

representatives of all the banks and banking
establishments of the place, for the purpose of ex.
amining that firm's balance-sheet. No feasible plan
could be resolved on to meet the emergency, owing
to the very large sum due to numberless small credi-
_

tors, and every one feeling that the responsibilities
of such a heavy advance were too great to be
thought of, notwithstanding the unanimous desire
of preventing a judicial liqu.dation of the suspended
bank. Besides a meeting and representation from
the members of the Praca, another meeting was
convoked by the Minister of Agriculture, Commerce,
and Public Works, on the 16th inst., which was
attended by the directors of banks and heads of
banking-hcwes, but nothing could be definitively
settled. The Government, however, having taking
the opinion of the Minister of Justice and Finance

on the 16:h, a Council of State was called at 9 p.m.
of that day, and it was resolved that a " supemion
of payment" during the term of 60 days, to date
from the 9th inst., should ba decreed.

We give an extract from translation of the
decree which was published on the 17th

" In consideration of the extreme gravity of the
commercial crisis which at present weighs down
the commercial community of Rio de Janeiro, dis-
turbing the cou:so of business, paralysing all
branches of industry, and which threatens to shake
to its foundation the public peace and order; and
seeing, moreover, the necessity of adopting e;n
speedy and cfficnious measure which the code of

laws, as it now stands, does not affurd to put an
end to the evils which are much to be feared will

accrue from such a disastrous occurrence; I, in
conformity with the unanimous opinion of the
Council of State, decree—

" Ist. That curing six days to be computed from
the 9►h inst., the becoming duo of all bills, pro-
missory notes, and other securities payable in the

city and province be held suspended and pro-
rogued ; and also that all protests, recourses in

guarantee, and prescriptions of above referred to

securities be also suspended end prorogued for

some space.

"2dly. Article 108 of the Commercial Code
shall apply as to granting time to non-matriculated
forms (of merchants and tradesmen), the which, as
well as conditions granted, can be effected amicably,
being adjusted by a number representing two-thirds
of the body of their creditors.

"311 y. The suspension of banks and of banking
establishments during the term which Art. 1 treats
of shall be legislated by the decree of Government."
The law for regulating the winding up of banks
and 'making houses which have failed was promul-
gated on the 20th inst., and gives the administra-
tion of the same to two of the chief creditors, as
sisted by an auditor appointed by Government, and
is generally most favourable to the establishments
in question. The first step taken after making
out a balance sheet is, by every available means,
to effect the payment of the small creditors, it
not the whole amount of their claim, then the
utmost the estate of the bankrupt w ill permit.

- -
The Approaching Trial of Muller,

Some time since we stated that Franz Muller, the alleged
murderer of Mr Brings, would be tried at the ensuing aLs-
skins of the Central Criminal Court, which commence on
the 24th inst. This statement was contradicted by a con-
temporary, who stated that there were no grounds for any
such assertion. And again yesterday morning even, we
find a quoted paragraph in another paper, stating that the
announcement that Muller's trial will come off on the 24th,
" has but little foundation in fact, as up to the prevent time
neither the committee of the German Legal Protection So-
ciety nor Mr Beard, the solicitor, who has the management
of the case, nor Mr Maynard, his managing clerk, have
decided whether the case will be fit for trial at that time."
Now, wherever this information has been obtained is of
course no business of ours, nor should we trouble even to
refer to it were it not that the correct statement had been
contradicted in terms so unqualified. Notwithstanding this
contradiction, we are able to state that so far as Mr Beard
is concerned, his brief is not alone prepared, but it is actually,
at this very moment, in the possession of Mr Sergeant
Parry. True, a communication was received from the
Treasury inquiring whether Mr Beard would be prepared
with the defence of Muller this session. Mr Beard, with•.
out loss of time, replied that ho was prepartd, and saw no
necessity whatever for postponing the trial. 'With regard
to the "great mass of additional oral and documentary
evidence said to have been obtained within the last few
days," scarcely anything more has been elicited than that
with which Mr Beard was thoroughly cognisant before the
prisoner was committed even, but, with a discretion which
cannot be too much commended, he has held it over till the
day of trial. Thus it will be seen that, so far as the defence
is concerned, the trial will take place this session about the
26th or 27th.

Muller, during his confinement in Newgate, has con-
ducted himself with the same air of coolness and indiffer-
ence to his position that has characterised him from the very
moment of his apprehension. He spends his time in reading,
and upon several occasions when questioned he has asserted
his innocence of the crime with which he is charged, ad-
mitting at tLe same time that it was " strange he should
become possessed of Mr Briggs' property." Ho positively
denies that the hat in question ever belonged to him. He
persists that in repudiating the charge he has told the truth,
and has coolly remarked, "If telling the truth hangs me, I
can't erelp it." At times during his incarceration at New-
gate he has shown some signs of depression, and has occa-
sionally been observed to shed tears.

The Confederate soldiers seem to have lost their
antipathy to the Federal coleured"soldiers in Grant's army,
and have ceased to fire upon them, as they formerly did,
whenever the negroes made their appearance, That part
of the line where the coloured troops are employed is now
as quiet as any other, and it is noticed that when deserters
come in they are afterwards frequently found eating with
the negroes, having apparently lost their late prejudice,-
4tnerfcan

LAT IST MMELLIGINCE

THE COMMERCIAL CRISIS IN BRAZIL.
RIO DE JANEIRO, Sept. 22.
The business of the past fortnight has been sud-
denly and unexpectedly interrupted, owing to the
stoppage of payment, on the morning of the 10th
inst., of the important banking establishment of
Messrs A. J. A. Souto and Co., and to the conse-
quences which immediately resulted therefrom.
By far the most serious panic ever witnessed in
this city immediately took possession of the public,
and a run commenced on four of the chief private
banking establishments by holders of receipts for
deposits. One only of these firms withstood the
unexpected and continued drain on their coffers.
The other three resolved on closing their doors
on the 13th.
In the meantime many respectable firms had
been unable to meet their engagements, and the
utmost consternation pervaded the whole place from
the impossibility of knowing who would continue
solvent and who succumb under the calamity.
On Sunday, the 11th inst., the Minister of
Finance met the directors of the Bank of Brazil,
who proposed, under certain stipulations, to take
on themselves the liquidation of the firm which had
suspended its payments on the previous day.
Nothing, however, could be arranged, and the con-
ference was again continued up to midnight of the
following day. The difficulty which presented it-
self was the expediency of satisfying an immense
number of creditors, chiefly for small amounts,
which, in the aggregate, represented the formidable
figure of 14,200,000 dots.
In the meantime the run on the National Bank
for gold continued till the 14 h inst., up to which
time the Bank had paid away 3,000,000 dollars of
its gold, and in anticipation of the decree authorieN
ing an increased emission of notes, the Bank freely
discounted on the 12th and 13th inst. to the extent
of 14,000,000 dollars, and thus alleviated much of
the immediate pressure on the commercial commu-
nity.