The Sun.
London, England, 1839-09-21 00:00:00

HIGHLAND SCHOOL ACT.

" Treasury Chambers, Sept: 4, 1839.
" Sir—Having laid before the Lords Commissioners
of her Majesty's Treasury your letter of the 9.oth Au-
gust, requesting some further explanations as to the re-
ference of the application for aid to the Ballygrant
School to the Education Committee of the Privy Coun-
cil, I am commanded by their Lordships to acquaint
you, that my Lords have already communicated to the
Committee of the General Assembly on Education, that
on reconsidering the provisions of the Highland School
Act, they are prepared to administer the funds intrusted
to them by Parliament for the endowment of these
schools, ►without reference to the Education Committee
of Privy Council.
" I am, Sir, your obedient servant,
"G. J. PENNINGTON.
" It;v. Dr. Dickson, Vice-Convener of the General
Assembly Educaim Committee, Edinburgh."

" Treasury Chambers, Aug. 28, 183. 9.
" Sir—The Lords Commissioners of her Majesty's
Treasury have again had before them the application.
signed by you on behalf of the Education Committee of
the General Assembly of the Church of Scotland for a
grant of money for the endowment of a school at Bally-
grant, in the parish of Kilmeny, Island of Islay, under
the Ist and 2d Victoria, cap. 87, which their Lordships
had transmitted to the Committtee of Privy Council
for Education. Upon reconsideration, however, of the
Act in question, it appears to their Lordships that the
administration of the funds set apart for the purposes of
education in the Highland parishes remains vested in
the Board, and does not come within the province of
the Privy Council Committee. Their Lordships will,
therefore, proceed without delay to determine the amount
of endowment which may granted to the Ballygrant
School, should the conditions of the Treasury Minute
of the 10th January appear on examination to have
been complied with ; and I have to request that you
will inform the Education Committee of the General
Assembly of their Lordships' intentions.
" I am, Sir, your obedient servant,
" G. J. PENNINGTON.
" John Gordon, Esq., Secretary to the Committee of
General Assembly on Education, Edinburgh."

DEATH OF ADMIRAL SIR T.
MASTERMAN HARDY, BART., K.C.G.

This event took place about one o'clock yesterday, at his
residence in Greenwich Hospital Sir Thomas was in his
71st year, having been born on the 6th of April, 1769.
He married in April, 1807, Ann Louisa Emily, daughter
of Admiral Sir George Cranfield Berkeley, G. C. 8., by
whom he had three daughters. Sir Thomas was the second
son of Joshua Hardy, Esq., of Portisham, in the county of
Dorset. by Ann, daughter of Thomas Masterman, Esq.,
of Kingston, in the same county; was created a Baronet on
the 4th of February, 1806, for the gallantry which he dis-
played as Captain of the Victory ( Lord Nelson's flag-ship)
in the glorious engagement off Cape Trafalgar in 1805.
On the death of the late Admiral Sir R. Keats, Sir Thomas
succeeded to the Governorship of the Royal i-ospital at
Greenwich, in which capacity, as well as in his private
circle of friends, he was much esteemed, and his loss is
greatly regretted in that neighbourhood.

MONEY MARKET and CITY NEWS.

(FRIDAY EVENING.)
TIMES.—The interference of Messrs. Rothschild
on behalf of the United States Bank is now positively
affirmed, both among the connexions of that house, and
among parties interested in the affairs of the Bank itself ;
but, what is very unusual in any matter of business
brought to a close, no details of the arrangement
entered into between them are allowed to transpire.
The information desired by the monied interest is not
merely as to the certainty of the payment of the bills
drawn in Paris when at maturity, but whether the
acceptance of Messrs. Rothschild has actually been
put upon them, absolutely, and for honour of the
United States Bank, and on what security, and sub-
ject to what conditions, that important additional
guarantee has been obtained. As much will depend,
for the restoration of the credit of the United States
Bank, upon the manner of the transaction as upon
the transaction itself. That the more immediate
difficulty has been provided for need not now be doubted,
and one construction put upon the silence still main-
tained with respect to the mode of meeting it is, that
the future agency of the bank, both in Paris and in
London, has become a subject of some competition
among different mercantile firms, and that the conditions
ofinterference are made in some degree dependent on
the settlement of that question. At present, with the
exception of the personal agency of Mr. Jaudon, which
has been for some time repudiated, as not of the most
suitable description, however dexterously managed for
such an institution, the bank has no representative
among the commercial interest of London. It is
true that a house of the first eminence, that
of Baring Brothers, has been fixed upon for
that purpose, with the full consent and at the solici-
tation of the Board of Directors ; but the agency has
not yet been taken up, on account of non-compliance
by the Bank with conditions very properly attached by
the house in question—that the money market should
first be cleared of certain liabilities, the provision for
which, however adequate it might be under other cir-
cumstances, was rendered uncertain by the general pres-
sure for money produced by the late measures of the
Bank. The refusal of Messrs. Hottinguer to accept
the bills lately drawn upon Paris can scarcely have any
other consequence than that of withdrawing from the
house the future agency in that capital, so that both the
French and English agency for the United States' Bank,
heretofore, without doubt, a very lucrative connection,
may be said at this moment to be vacant, In the
instance of Messrs. Hottinguer, it is said that the
term "agency" is not recognized, being designated as
the correspondents only of the Bank ; but this is not
material, since, by whatever name the French bu-
siness is described, whether as an agency, or as a
correspondence, the increasing transactions of the
Bank on the Continent, should it be restored to credit,
will necessarily make it an object of competition. That
there should exist such a competition now amidst the
embarrassments by which the Bank has recently been
beset, is as good an omen as can be referred to of its
approaching recovery from them, were it not that in the
eagerness for a large profit the future is frequently over-
looked.

Some doubt has been felt whether there is any person
or persons on this side of the Atlantic intrusted with
sufficient powers from the Board at Philadelphia to re-
construct the agency in England and France, should
the state of the affairs of the Bank make it necessary
to do so. There is, however, reason to believe that
Mr. Jaudon himself is duly empowered for such a pur-
pose, and that one of the Directors of the Bank is now
in London to advise him on the most prudent course of
proceeding. But their situation is one not of responsi-
bility only, but of extreme difficulty, and it may still be
requisite to take the opinion of the Board, in which case
the present uncertainty must continue for a considerable
time longer.
Nothing has been said for some days past of the ar-
rangement with the house of Hope and Co. of Amster-
dam, by which large advances were stipulated to be made
to the United States Bank, which is the more surprising,
as it was thought likely enough, when the dishonour of
the drafts on Paris was first known, that some in-
fluence might have been produced by it upon the
arrangement
arrangement w•i th H ope and
also, Co
h. a s
bUponeen ut
nh
de e final
rsto
o dsuc-
cessto
odepend the removal of the objections of the London
house already referred to to undertake the agency. We
have understood, since the subject was first mentioned,
that the extent of the arrangement with Hope and
Co. is very far below the sum stated of 2,000,0001.,
and that the extent to which it has been acted on has
also been much exaggerated, but that is not, perhaps,
of much importance, if it was sufficient to withdraw
from the London market those liabilities which formed
the impediment to the re-establishment of the London
agency.
No very immediate or pressing engagements on the
part of the United States Bank exist, it is sail, at this
moment, though the amount of outstanding obligations
of all kinds must be very great. To provide for these
there are nominally abundant means, consisting chiefly
of cotton and American State stocks and securities of
various kinds, the conversion of which into money
within the time required cannot but be uncertain. From
the United States if any remittances are now sent they
must be in bullion ; if the securities of the Bank now in
Europe are valid, there are enough of them for the pur-
pose ; if not, it will be useless to send more.
The progress of the pending transactions is watched
with great interest all over the City,

THE NEW POLICE ACT.—The parish autho-
rities of Bethnal-green and the Tower liamleis, in accord-
ance with a clause in the New Police Act, have issued
notices, which have been abundantly distributed in the win-
dows of various tradesmen's shops and on walls, exhr,rting
the inhabitants to keep their dwellings clean and purified,
as well as gardens, outhouses, and all other places wherein
dirt may accumulate; end, at the same time, intimating
dptehrisso persons
clause. ‘vho
their intentiolin,ayofberigtoournoudstlyo
hparvoeseccountitnragoesnlel
shall
imnoarneyrespeetable classes of the inhabitants appear to
be well pleased with the promptitude and decision thus
displayed by the vestrymen.