The Sun.
London, England, 1837-10-09 00:00:00

- P.,
212%

92%

THIS DAY AT ONE O'CLOCK
Peruvian Bonds
• Ditto Account ......
Portuguese Bonds .„
Ditto Accoure
Ditto New Hands
Ditto Account
Ditto, 3 per cent.
Pruisiati Bonds
Russian Bonds, 1822
Ditto Account
Ditto Metallic
Spanisn Bonds
Ditto Account
Ditto Bonds, I Rll,
Ditto Account
French, 5 per cent.--
4 per cent
- 3 per cent.
Exchange
Dutch, 2ya tier cent ,
Ditto Account
Ditto, 5 rer cent
Ditto Account .

-c

-c

100%%

be fixed by the Secretary of the Treasury, by and with
the advice and approbation of the President ; but shall in
no case exceed the rate of interest of six per centum per
annum. The reimbursement herein provided for shall be
made at the Treasury of the United States to the holders
of the said notes, respectively, upon presentment, and shall
include the principal of each note, and the interest duo
thereon at the time of payment. For this reimbursement,
at the time and times herein specified, the faith of the
United States is hereby solemnly pledged.
Sec. 3. And be it further enacted, that the said Treasury
notes shall be prepared under the direction of the Secre-
tary of the Treasury, and shall, be respectively signed on
behalf of the United States, by the Treasury thereof, and
countersigned by the Register of the Treasury. And
that those officers respectively shall, as checks upon
each other, and to secure the public safety, keep sepa-
rate, full, and accurate accounts of the number, date,
denomination, and amount of all the notes signed and
countersigned by them respectively ; which said accounts
shall be carefully preserved and placed on the file in the
Treasury Department ; and also similar accounts, kept and
preserved in the same manner, of all the said notes re-
deemed, as the same shall be returned and cancelled ; and
the Treasurer shall further account quarterly for all
such
notes delivered to him for signature or issue by the Register.
The Treasurer and Register of the Treasury are hereby
authorized, by and with the consent and approbation of the
Secretary of the Treasury, to employ such additional tem-
porary clerks as the duties enjoined upon them by this sec-
tion may render necessary ; the compensation of each clerk
so employed to be fixed by the Secretary.
Sec. 4. And be it further enacted, That the Secretary
of the Treasury be, and he is hereby authorized, with the
approbation of the President of the United States, to cause
to be issued such portion of the said Treasury notes as the
President may think expedient, in pay talent of debts due by
the United States to such public creditors or other persons
as may choose to receive such notes in payment, as afore-
said, at par. And the Secretary of the Treasury is further
authorized, with the approbation of the President of the
United States, to borrow from time to time, not under par,
such sums as the President may think expedient, on the
credit of such notes.
Sec. 5. And be it further enacted, That the said Trea-
sury notes shall be transferable, by delivery and assignment
endorsed thereon, by the person to whose order the same
shall, on the face thereof, have been made payable.
Sec. 6. And be it further enacted, that the said Treasury
notes shall be every where received in payment of all duties
and taxes laid by the authority of the United States, of all
public lands sold by the said authority, and of all debts due
to the United States, of any character whatsoever. And,
on every such payment, credit shall be given for the
amount of the principal and interest which, on the day of
such payment, may be due on the note or notes thus given
in payment.
Sec. 7. And be it further enacted, 'That the Secretary of the
'Treasury be, and he is hereby, authorized and directed to
cause to be reimbursed and paid the principal and interest of
the Treasury notes which may be issued by virtue of this Act
at the several time and times when the same, according to the
provisions of this Act, should be thus reimbursed and paid.
And the said secretary is further authorised to make pur-
chases of the said notes, at a price not exceeding par, for
the amount of the principal and interest due at the time of
purchase on such notes. And so much of any monies in
the Treasury, not otherwise appropriated, as may he ne-
cessary for that purpose, is hereby appropriated for paying
the principal and interest of said notes.
Sec. 8. And be it further enacted, That a sum of
thousand dollars, to be paid out of any monies in the
Treasury not otherwise appropriated, be, and the same
is hereby, appropriated for defraying the expences of pre-
paring, printing, engraving, signing, and otherwise incident
to the issuing of the Treasury notes ;authorised by this Act.
Sec. 9. And be it further enacted, That if any person
shall falsely make, forge, or counterfeit, or cause or procure
to be falsely made, forged, or counterfeited, or willingly aid
or assist in falsely making, forging, or counterfeiting, any
note in imitation of or purporting to be a Treasury note
aforesaid ; or shall falsely alter, or cause or procure to be
falsely altered, or willingly aid or assist in falsely altering
any Treasury note issued as aforesaid ; or shall pass, utter,
or publish, or attempt to pass, utter, or publish, as true, any
false, forged, or counterfeited note, purporting to be a 'Trea-
sury note as aforesaid, knowing the slime to be falsely forged
or counterfeited; or shall pass, utter, or publish, or at-
tempt to pass, utter, or publish, as true, any falsely altered
Treasury note, issued as aforesaid, knowing the same to be
fldseiy altered, every such person shall be deemed and ad-
judged guilty of felony, and being therefore convicted by
due course of law, shall be sentenced to be imprisoned and
kept to hard labour for a period not less than three years,
nor more than ten years, and be fined in a sum not exceed-
ing five thousand dollars.
Sec. 10. And be it further enacted, That the Secretary
of the 'Treasury be, and be is hereby, authorized to make
and issue, from time to time, such instructions, rules, and
regulations to the several collectors, receivers of public
money, depositaries, and all others who may be authorized
to receive the said Treasury notes on behalf of, and as
agents in any capacity for, the United States, as to the
safekeeping, disposition, return, and cancelling of the said
notes so paid to and received by them respectively, and
as to their accounts and returns to the department of all
such receipts, as may seem to him best calculated to pro-
mote the public interests and convenience, and secure the
United States and the holders of the said notes against
frauds and losses.
Sec. 11. And be it further enacted, That it shall be, and
hereby is made, the duty of the Secretary of the Treasury
to cause a statement to be published monthly of the
amount of all Treasury notes issued or redeemed in pur-
suance of the provisions of this Act.
This Bill differs from that reported by Mr. Cambreleng,
in the House of Representatives, in one particular only, but
that an important one. They both authorise the issue of
notes, to the amount of 12 millions of dollars, in sums to be
designated by the Secretary, not less, however, than 100
dollars. But the Senate Bill provides that they shall be
redeemable at the end of one year, and in the mean time bear
interest—while the House Bill provides that they shall be
redeemable at the end of one year, but without bearing in-
terest ; but if they are not redeemed at the time then, and
not till then, they shall bear interest of per cent.
If the Treasury notes bear interest, it is obvious they will
not serve as currency or a medium of domestic exchange,
but be bought up and kept as safe investments of money, or
sent abroad to pay debts.
Without interest, as proposed by Mr. C. for one year,
they would be a convenient currency and a medium of re-
mittance between the States.
The Bill postponing the payment to the States of the
fourth instalment of the surplus was ordered to a third
reading in the Senate by a decisive vote, as will be seen
by referring to the yeas and nays under the Congress head.
The National Intelligencer of Thursday expresses the
opinion that a bill authorizing Treasury notes will pass both
houses, but thinks it " doubtful whether any other act of
any sort will be passed at the present session, unless legis-
lation be thought necessary to authorize the proper exten-
sion of time on the merchant bonds."
DUTY BoNos.—The bill reported by Mr. Wright in the
Senate will not much aid those whose bonds are past due, for
its limit of indulgence is to six months from the period when
the bonds were originally payable. From those that fell
due in May this term, is already, within a few weeks, ex.
hausted ; and so, measurably, of all that have come to ma-
turity at intervals since.
For bonds not yet due, and for bonds to be given, for a
year from October next, the relief is substantial.
We annex the chief provisions of the Bill :
Sec. 1. authorizes the Secretary of the Treasury " to
grant such further extension of credit upon all bonds for
duties now outstanding as shall make the whole extension
of credit upon each bond six months from the time when
the original bond became due and payable, making the ex-
tension in each case to depend upon the same conditions as
to addition-al security, the payment of interest, and other
terms, which have been prescribed by the Treasury Depart-
ment to the extension of revenue bonds since May last :
Provided, that nothing herein contained shall be construed
to include any existing bonds, where the parties to the same
have not, since the bonds become payable, given additional
security, or made part payment, and are, by the proper
officers of the Government, considered insolvent, or unsafe
securities for the payment of their bonds.
" Sec- 2. And be it further enacted, that the addi-
tional credit of six months, granted by the first section
of this Act, upon outstanding duty bonds, shall be upon
the same terms and conditions granted upon all bonds for
duties which may be given during the period of one year
from and after the first day of October, rn the year one
thousand eight hundred and thirty-seven.'
proSloencgtie7l s3harillr
vifi d eostitilea
ra,tv
ise principals
satisfactory,a nds übreetireesetec vbonds
principals or sureties on new bonds.
Section 4 suspends all laws conflicting with this.

deration of the striking facts detailed in this letter ; but
we shall return to the subject to-morrow—with a view
of impressing its importance upon the mind of the
country before the opening of Parliament.

At the Reform Dinner which was given on Friday_
last, at Doncaster, in celebration of the re-election of
Lord MORPETH and Sir GEORGE STRICKLAND for
the Wrest Riding of Yorkshire, several able speeches
were made, especially by Earl FITZWILLIAM,
CHILDERS, and Lord HOWARD. The former, in
alluding to the New Poor-law Act, bore personal tes-
timony to the beneficial effects that had resulted from
i
it in the East of England. "I admire that law," said
the Noble Lord, " not upon the wretched and
paltry
ground that it has a tendency to save the money of the
rich. No ; I think, if it has diminished the poor-
rates, that that is the very smallest benefit which it has
conferred upon the country. I approve and admire
the Poor-law Amendment Act chiefly because it has,
made the idle industrious ; because it has corrected
the wretched pensioner upon the public into the
industrious maintainer of himself and his family. I
speak as a witness upon this subject. I speak as a
man who has seen—who has been dragged incessantly,
whilst I have been in the country—into the adminis-
tration of that law. You may not have seen it in the
district of Doncaster ; but when I have seen the
.
streets of Peterborough, previous to the existence of
that law, thronged by idle and unemployed labourers,
and when I remember that the carrying of that law
into effect has acted as a talisman, so that now not a
single unemployed person is to be found, it would he
impossible for me not to see the salutary benefits
which have been produced by it." This is valuable
testimony, which not all the slanders of the most ran-
corous opponents of the Poor Law will be able to
bear down. Lord FITzwILLIAm does not speak as,
a partisan, but as a cool and impartial looker-on.
He indulges in no speculations on the subject
gives utterance to no hints suggested by others
but rigidly confines himself to practical, un-
varnished statements, which have been supplied
by his own personal experience. It is one 01,
the leading excellencies of the Poor-law Act, that the
more it is examined into—the more closely its prat'
tical tendencies are watched—the more highly it
.1s
appreciated. Look for its opponents, and you will
not find them among those who are thoroughly ac-
quainted with its provisions ; but among those whose
prejudices have prevented them from entering into a
dispassionate investigation of the subject. Earl
STANHOPE opposes the Poor-law, because—as he
showed abundantly last session—he has but an
im-
perfect knowledge of its true character ; Earl FiTz-
WILLIAM supports it, for a reason diametrically the

reverse.
Mr. CIIILDERS, after observing with much justice
that the power of the Tories was bottomed on delu-
sion, and that notwithstanding all their swagger, this
party had little or no moral influence in the country,
told a very amusing anecdote respecting the famous
Tamworth .Manifesto. " I believe," said he, "it
was a saying of Lord LYNDHURST when Sir ROBERT
PEEL issued his Manifesto two years ago, alluding t°
a number of promises contained therein, but. which
were always closed with a salvo that brought them t°
nothing, why, PEEL, your Manifesto appears as
if the first part of each paragraph was permed
at BROOKES'S, and time remainder at the Carl-
ton Club-house." This was well said by Lord
LYNDHURST ; but it applies not only to his Mani;
festo—w hich has long since gone to
tl-me tomb 0f all
the Capulets—but to every speech that Sir RosEfer
PEEL delivers in Parliament. He invariably qualifies
every admission of liberality with a " but," as if the
great secret of statesmanship consisted in oscillating
like a pendulum between Reform and Toryism. M°re." over, he has not the slightest decision of characters
a radical defect, especially in one who would aspire
'-
sway the destinies of England, at a crisis like. the
present.
Lord HOWARD and Earl FITZWILLIAM, in speak-
ing of the House of Lords, both expressed their con-
viction that for the future the opposition of this Chant"
her to Reform would not be what it had been. The
latter, in particular, remarked that " certain theories
and schemes had been suggested in and out of
Parlia-
ment, but he looked forward to the firmness of the Go-
vernment to dispel these chimeras ; and if this Parlia-
ment should be, as he firmly believed it would be, one
of long duration, his belief was, that before an'''
ther election took place they would have maul
of those whom he would call the lost sheep of
Israel returning to the fold. Those chimeras he be-
lieved under Waig Government would be dispelled.,
and when that was the case, they might depend on It
that the course which the House of Lords would pur-
sue, would be very different to that which they had
hitherto pursued." We shall he very glad to find the
Peers coming round, however slowly, to a correct sense
of the duties owing by them to the country ; but we
must confess we are by no means so sanguine as Earl
FITZWILLIAM on this point. Prejudices, the growth 49f
years and position in society, are not dispelled in a day'
and unfortunately the Tory majority in the Upper 11°1
are of an age past amendment. They may be operated
on by an appeal to their interests ; but we doubt .f
they will ever become Reformers from the convictions
of reason. Like Lord STORMONT, they hate in their
a hearts the " very mention of the word Reform ;" j
the utmost, therefore, we expect from them is, that '
discreet regard to their own safety, as an indePe°(lent
branch of the State, will teach them the necessity of
.
lowering their tone a little ; and finally,
their more flagrant aristocratic
prejudices to
pular welfare.
p of sacr
the pifion: