The Sun.
London, England, 1839-12-27 00:00:00

TUE SUN, LONDON, FRIDAY, DECEMBJ4R, 27 1539

accusations fail to enter an appearance, and formally
to exculpate themselves from that of which they arc
I not only innocent, but entirely ignorant, they are
at once brought in guilty by theii• honest accusers,
discharging simultaneously the functions of Judges.
Thus Mr. 8., or Mr. It., attacks the profligate por-
tion of a certain Household as injurious to morality,
out:agensta to decency, and pernicious to the national
wvdrare. This is twisted into an offence against the
Queen ; and Sir R. Peel, who has no more to do
with it than the Bishop of London, is called upon to
disavow Mr. R. or B. on pain of being condemned
For a crime little short of high treason. Mr.
Emerson Tennent, or Mr. Mortimer O'Sullivan,
or Mr. H. Al‘Neile, delivers a speech expressive
of that hieb and earnest Protestant feeling, which
has heretofore, under Providence, saved this mighty
empire from destruction, and which it now behoves more
especially than at any former period, every patriotic Eng-
lishman to enforce and to promulgate amongst all whose
sympathy he can hope to gain ; when, no sooner have
the sentiments of these able, honest, and conscientious
men been circulated, than they are distorted into a spirit
of offensive warfare against Popery—itself the grand,
original, and never-ceasing aggressor upon the rights and
liberties of all mankind ; and because Sir Robert
Peel and the Duke of Wellington do not bolt
forward to rebuke and reprobate the strong reli-
gious spirit of those independent gentlemen, it is
with signal modesty assumed by the Papists that one
of the first acts of the forthcoming Peel Administration
will be to rescind the Act of 1829 for abolishing the
Romish disabilities ! Yet Sir Robert Peel is the last
man living to deserve this paltry molestation. He has
proclaimed aloud, and repeatedly, his determination to
stand by the Bill of 1829—t0 stand by the Reform Bill
of 1832—t0 administer justice with impartial reverence
for the rights secured by law to all individuals and all
sects--to maintain inviolate the privileges and posses-
sions of the Protestant Established Church, the illus-
trious guardian of our civil and religious freedom. He
has not bound himself to pack the bench of justice,
to turn every mischievous disturber of the peace
into a justice of the peace, or to reward the grand
persecutor of the Protestant Church, the inveterate
reviler and slanderer of England, the agitator for
Popish ascendancy, the repealer of the Union, the cru-
sader against the Imperial Crown, by making him Chief
Baron of her Majesty's Exchequer, which was once
already offered, and which, if again, as rumour states it
to be offered, will not be a second time refused. We
quote two passages from recent speeches of O'Connell,
indicating clearly the sort of spirit with which, as repre-
sented by the agitating Popery of Ireland, not Sir Robert
Peel only, but any and every British Government,
guided by constitutional principles, will have henceforth
to deal. Just listen to the abject sycophant of 1829,
and judge how fit a subject he in ten years has proved
himself for the bounties lavished on him by England :
" The rabid denunciations of the Tories have created a
necessity—an inevitable nece,sity—for the most energetic
constitutional agitation to oppose their criminal and traitor-
ous designs ; and O'Connell will infuse into it all the
vitality of his spirit."
" It is impossible to avoid being disgusted with England.
At no former period does the history of that country pre-
sent features so disgraceful to the character of its inhabi-
tants.—(Cheers.) Look at the Lords—the incorrigible
assembly of dunces and dotards, treating the Commons,
who are nominally, if not really, the people's representa-
tives, with every species of contempt; rejecting every be-
neficial proposition ; perpetuating and extending injustice
and corruption of every kind, especially where Ireland is
the party aggrieved.—( Hear.) There appears in the
mass of the people of England, at present, no wish or no-
tion whatever of a proper system of representation. Pas-
sive slaves seem to preponderate in a fearful proportion.
There are the Operative Conservatives' for you, feeling
and professing an unextinguishable hatred for this country
—and guided by whom? Why, by that very party which
England had heretofore thought it necessary to hold in
cock and distrust—the aristocracy of the country.—( Hear
and loud cheers. )"
The people of England are here plainly identified with
the Tories, and the Lords, again, with the people of
England, of whom, to do Lord Melbourne justice, he
pronounced his brother peers to be a favourable speci-
men. But hear the language of this scurrilous rebel,
this eager clutcher of the cha seat in the Exchequer,
how he paints all England as " an object of disgust ;"
her inhabitants at of a " disgraceful character ;" the
mass of her people as " passive slaves." And yet Sir
Robert Peel is denounced as an irreconcilable enemy
to the " people of Ireland ;" because he may not, and
we hope For his own honour will not, be as ready to
court and bribe, and promote, the tools and dependents
of this disloyal incendiary as the present Ministers have
been. If Sir Robert Peel, in the discharge of his
duty, shuns to patronize the O'Connell clique, the most
brazen impudence cannot allege that it is because
they are simply Roman Catholics. If those who are
Papists happen also to be traitors and inciters to civil
war, Sir Robert Peel, no doubt, will judge, and rightly
judge, that their Popery is no defeazance of their
treason. He will not encourage or promote such men
—but he will reject them, not because they are Roman
Catholics ; he will reject them for their disloyalty, not
for their religion ; and in doing so he will hardly expose
himself to the imputation cf " hating Ireland ." He
will act in that respect on the principle which Lord
Melbourne has himself assigned in justification of the
disgraceful appointments made in so many instances
under his authority. "We prefer," says the Noble
Viscount and his subordinates, " those who agree with
ua in opinion to those from whom we differ." So we
trust will Sir Robert Pcel. The Melbourne Ministry
promote Papists, Radicals, enemies of the Church, and
partisans of rabble tyranny ; Sir Robert Peel, in re-
versing all this, will not go down to posterity as a foe
to Ireland, or a violator of religious freedom.

MONEY mIRKET awl CITY NEWS•

(THURSDAY EVENING.)
TlMES.—There are several matters introduced into
the speech of the King of the French which have excited
interest in the City. One the whole, the paragraph
relating to Spanish affairs may be said to have raised
the hopes of the speculators in Spanish stock: but
they are much qualified by the wretched financial ad-
ministration of that country, under any state of things,
which seems to make the prospects of the creditors
bad, under almost any aspect of political affairs. It
has been considered an important omission in the
speech not to have alluded in any way to a reduction
of the Five per Cents., of which every session of the
French Chambers for several years past has uni-
formerly brought forward some new project. But it
may be said for the city capitalists that they have had
no expectation of such a measure, conceiving it to be
so essentially unpopular in France, that the Government
of Louis Philippe, in its present critical situation, could
not with safety venture upon it. It is thought that, as
a security, French stock has rather gained in character
by what is said of the state of the finances, and indeed
it is quite clear, that, supposing no political crisis to oc-
cur, the debt of France can hardly be said to be a
burden upon her great natural resources. Commercial
men have remarked the very cool and easy manner in
which the proceedings in Mexico and South America
are referred to, and renew, on this occasion, the com-
plaints which have been so frequently heard from them,
of the utter remissness of their own Government to their
interests and protection in that part of the world.
The project of a law on the sugar question, which is
announced, is looked for with much curiosity by the
West Indian interest, who feel the very difficult situa-
tion in which they are now placed, and the danger they
are exposed to, of having our vast means in that trade
transferred to foreign nations. That the country should
propose to take upon itself the completion of the great
lines of railroad which have been commenced in France
was luny anticipated, since it is notorious that, as pri-
vate commercial undertakings, they are threatened, for
the most part, with a total loss. Indeed, there are
some in this country, notwithstanding our much greater
capital and activity of enterprise, which threatens to
give way without some interference of that kind. It
may be remarked on that subject, as the opinion of well-
informed men, that the lines of railroad in England will
require, in the course of 1840, nearly 10,000,0001. ad-
ditional capital.

Money, without being in any great request, still com-
mands interest at the rate of 6 per cent. per annum at
the Stock Exchange, for short terms, The attendance
of the members has been very scanty to-day, and the
business done very limited. Console have remained
without any variation at 92 to for the account, and
Reduced 3 per Cents. at 90i and for money. Exche-
quer bills, ss. to 3s. discount.
In the foreign house there has been a decline in
the Dutch Two-and-a-Half per Cents., of which the
opening quotation was 513-, and at the end of the day
52.4. Spanish Active closed also a shade lower than it
opened, having been 254 and Y, and at the end of the
day 25 and per cent., but the tenor of the King of
France's speech appears to have had some influence
upon its value. Portuguese Five per Cents., 33i to 4 ;
the Three per Cents., 231 to 4 ; Brazilian, 71 to 2 ;
Mexican, •284 to h ; Colombian, 244 to ; Belgian,
100 i to 1
The railway share market is pretty well sustained.
London and Birmingham were 51 to 3 ; the quarter
shares, 161 to 17 ; the new shares, 14} to lsi ;
Manchester and Leeds, 7 to 9 ; the new shares, 5 to 7
premium ; Great Western, 7 to 6 ; the half shares, 4
to ai ; Brighton, 144 to 4 ; Blackwall, 2 to
count ; Southampton, 39} to 40 per share.
Great disappointment is felt in the city that the
British Queen has not waited for the 'President's
message, as Congress was to meet on the '2d, the day
the British Queen sailed. It is said that the captain's
orders were peremptory not to wait. The next de-
parture being a sailing vessel, there can be no exact
calculat;on as to the time of its reaching England.
The interest of this document was never greater than
on this occasion, since it involves the fate, probably, of
the whole banking system of the United States, with
urlich so much British property and enterprise is
connected. This arrival does not better the situation
of the holders of " United States" Bank shares ; on
the contrary, the condition of that institntion is made
Iworse, if possible, than before by the fact, which now
clearly appears, that the other banks in Pennsylvania,

but for their entanglement with Biddle's bank, would
be able, in a very short time, to resume specie pay-
ments, while of that bank not the least prospect of
the kind is said to exist. The weight which keeps it
down, and is likely to do still, is the cotton speculations
and the large assets in state stocks and local un-
dertakings, which are utterly unsaleable. The
Girard Bank, out of which its founder realised a for-
tune of 10,000,000 dollars is the only other Pennsyl-
vania Bank said to be unable to resume specie pay-
ments. In one calculation made of the prospects of
Biddle's Bank, one is, that a loss of 40 per cent. upon
13,000,000 dollars, that is 6,800,000 will be incurred on
securities held of the southern banks and states, and
this, independently of the losses in cotton, protested
bilk and bad debts in New Orleans and elsewhere.
The certainty of the continuance of specie payments by
the New York Banks is now fully established, but the
increased facilities which that is said to have given to
the merchants of that city are only comparative, since
money is still quoted at from 1 to per cent. per
month.

The following singular transaction of a loan is re-
corded in the Sangame Journal, one of the American
papers received by the British Queen. It is headed
" the Great Loan," authorized, as appears, by the State
of Illinois, and managed as follows :—The State agents,
Rawlins and Oakley, contracted to transmit to Messrs.
Wright and Co., of London, sterling bonds to the value
of 4,000,000 dollars, the agents at the time of this con-
tract being in this city. Upon the deposit of these
bonds the house of Wright and Co. agreed to make
advances at the rate of 10,0001. per month, until such
advances should amount to 50,0001. To recover them-
selves they were authorized to sell the bonds at the rate
of 901. per 1001. bond ; if 95/. could be obtained, they
were entitled to take the 51. surplus by way of commis-
sion ; for all the sales effected above that price the
amount was to be credited to the State. The original
sums advanced were not to be exceeded, unless the
sale of the bonds should succeed, in which event ad-
vances were to be continued in proportion. The State,
therefore acquires the certain possession of 50,0001.
against bonds thus hypothecated to the extent of
4,000,000 dollars. or about 800,000/. When a Mr.
Tilson, who, it seems, was associated with the two other
agents in this business, became acquainted with the
facts here stated, he is said to have served upon his
colleagues a written protest against their proceedings.
Such is the reckless way in which the States of the
Union authorize loans and raise money.

POST.—There was so very little doing at the Stock
Exchange to-day, either in the home or foreign securi-
ties, that the quotations for the moment must in most
cases be considered almost entirely nominal. Dutch
tock was lower, owing to the changes which have
taken place in the Ministry at the Hague, and the
concessions which would appear to have been made
to the popular party by the limitation of the sum
demanded for the purposes of the executive for the
year 1840 to the actual amount required for imme-
diate appropriation, this being the course taken by
the new pro tcrnpore, Minister of Finances. We hava
no direct arrival from Holland, but the Antwerp paper,
Journal du Commerce, of yesterday's date mentions
that in the sitting of the Second *Chamber of the
States-General on the 22d instant, fifty Members
having opposed the Ministerial project for raising fifty-
six million florins, the King was besought to take the
measure into further consideration ; and that during
the sitting of the-following day a message was received
from his Majesty accompanied by another project of law,
proposing the inscription in the great book of the na•
tional debt a capital of 15.752,000fi0rins at 5 per cent.
interest, the same being presented for the adoption of the
Chamber in consequence of the rejection of the above.
Letters received this morning from Lancashire men-

tion that trade in that part -of the country is very
sluggish. Money was easier, and reports were cur-
rent of a Liverpool capitalist having stated that he
should be ready to discount bills at the rate of 5 per
cent. interest at the commencement of the new year.
Still there was much local distress, and it is feared
tha Gazelle may presently afford but too much con-
firmation of the fact. The anti-Bank of England
people are, we are informed, making preparations
for a fresh campaign, but it is added that they can-
not obtain by any means all the support they had calcu-
lated upon. It is well known that there exists a sort of
union, or club, who profess to look after the interests
of the joint-stock banks of the whole country, but it is
not so well known that this body (the club or union)
consists virtually of one single hustling individual in the
metropolis who is charged with the management of an
establishment of that order. It appears that they have
bored some of the country joint-stock banks into be-
coming subscribers, and they profess to meet occa-
sionally to deliberate upon circumstances affecting the
banks in question ; yet certain it is that the most respect-
able among the joint-stock bankers are not members, and
that, of those who arc so, the more influential never by
any accident attend. The business of the association
is left entirely to the discretion of a few empty-pated
spouters, who are of course under the guidance of the
one person alluded to. They have, under the pretence
of explaining the law, given publicity to the " quips and
quirks" by which dishonest creditors may cheat their
bankers, the effect of which is to put such creditors in
possession of a knowledge they "right not otherwise be
able to acquire without the intervention of an attorney.
They are making a dead set at the M.P.'s of their dis
tricts, and if the Joint-stock Banks were, or ever could
ba, united as one, they would present a formidable
front ; but the views of different banks are so various,
that disunion necessarily prevails in the camp, and hence
the object now is to moot some of the points upon which
they are divided, especially as to the issue of notes.
The non-issuing banks, except, perhaps, one or two
of the London establishments, are unconnected with
this association. The manager of a broken-down con-
cern in Lancashire was very active as a Committeeman
in the metropolis, and would be so again but for the
serious disclosure of loss in his own shop, which cir-
cumstance has served to keep his matchless impudence
in some degree of subjection. The branch question is
a sad bone of contention among the wise heads of the
conclave. Some have only one establishment, and
prefer that there should be no addition to it. They
have, accordingly, no idea of being annoyed by
branches from a distar.ce. With regard to capital
and other matters, over which Parliament can have
but little control, there is a total and irreconcile-
able diversity of feeling, each being of course ens-
moured of his own particular system and regulation.
'1 he opinion of well-advised persons on the spot is,
that nothing will be done next Session in favour
of parties whose views and interests have so little
in common one with another. Yet there seems

to be no doubt •that much will be attempted. The
great misfortune is, that bankers who have a good
legitimate business to attend to have not the time,
even had they the inclination, to be running back-
wards and forwards on parliamentary committees, so
that the whole will be left to the prating blockheads
who allow themselves to do the bidding of the one man.
Government are aware of the movements of this con•
temptible set of bank agitators, and, weak and concili-
ating as they are, on many questions connected with
commerce, we are told they will turn a deaf ear to the
representations of their tormentors as long as they pos-
sibly can. An independent Ministry might, and ought,
however, to prefer grappling at once with the enemies of
private credit.
The interview which the committee of South
American bondholders had on Saturday last
with Senor Mosquera, in Dorset-place, had no
important result. He repeated his opinion, that
New Granada, so far as that State is interested in the
proposed arrangement, could make no offer of a less
objectionable character than that which has already
been submitted for the consideration of the bondholders.
He said, indeed, that he feared the finances of the coun-
try would not admit of more being accomplished for
many years, and appeared unwilling to undertake any-
thing that might subject the State to the reproach of
any second breach of good faith, a compromise being
once effected. This argument is Spanish all over, though
the committee did not appear to be struck with the force
Ind fairness of it. Colonel Wright, on the part of the
Equador, and Senor Fontique, on that of Venezuela,
have stated that their instructions are precise and
limited, and that they have no power to enter into
negotiations without first having recourse to
their respective Governments. One of the cor-
respondents of the Morning Post has very properly
remarked upon this point," ‘Vhat is the use of sending
us over Commissioners thus bound down hand and
foot ?" We fear there will be again great procrastina-
tion before this matter is put into a satisfactory train of
settlement. Two years have now, we believe, elapsed
since Senor Rosales brought forward his first notable
scheme for the arrangement of the Chilian debt, which,
like the rest, has been so scandalously neglected. The
plea offered by all these South American States for their
trespasses on the foreign bondholder is best answered by
the simple observation, " You somehow or other con-
trive, all of you, to discharge the claims of the borne
creditor, and have done so for years past, but for the
foreigner, when did he ever receive a farthing ? You
have not only withheld front him the interest you so
solemnly bound yourselves down to pay punctually, and
in full, for fourteen years, but you at length proceed
to rob him of almost all title to his capital. Is this the
conduct of any but the most dishonest and infamous
nations ?"

The Committee intend, we hear, to draw up and
submit for the adoption of a general meeting of the
bondholders certain counter-resolutions to those which
have been brought forward. They will, perhaps, be
disposed to substitute conditions something like the
following interest at the rate of two per cent.
per annum to be paid for a specified time, the same to
be increased to four per cent., and then to six per cent.
per annum, as the resources of the republic may admit
of; the arrears of interest to be funded at the end of a
given period, the plan agreed upon in the compromise
with Mexico being taken as the outline for any arrange-
ment that may be concluded.

CHRONICLE.—By the British Queen steamer,
which, without touching at Portsmouth, arrived yester-
day at Gravesend, we haveintelligence from New York

to the 2d instant being seven days later than the pre-
vious advices.

By this arrival specie to the amount of 500,000 dol-
lars has been received for the use of the United States
Bank. Little change appears to have taken place in
the state of the Money Market during the short space
which elapsed between the arrival and departure of this
steamer ; but money was getting still easier at New
York, being quoted at 14 to I per cent. per month ;
and the Exchanges had improved, being about 84
to 9+
Many of the banks which had suspended specie pay-
ments had prepared to resume, and several of them had
alroady done so. The city of Washington was full of
bustle and animation on the eve of the Session of Con-
gress. The New York Times of the .28th ult. speaks
gloomily of the tranquillity in Mexico, and says that
the last advices from that quarter show that a serious
conflict would shortly take place, originating in the ex-
pedition against Matamoras by the Mexican Federalists.
Another serious fire at Mobile, which broke out at
the corner of Michael and Conception-streets, had de-
stroyed all the buildings through to St. Francis-street,
fronting the city square.
The advices brought from the West Indies by her
Majesty's packets Mutine and Penguin corroborate the
former advices, that the new Governor, Sir Charles
Metcalfe, was giving satisfaction to the House of As-
sembly, and to the inhabitants generally throughout the
island, and the crops continued to look well.

SUN.—Although the arrivals have been so nume-
rousyesterday,
business in the City has been dull.
In fact, c since m
l men are generally too much engaged,
eo
m ec commercial
at this period of the year, in winding up their accounts.
To many, we doubt not, the " Trial B dance" of the
year 1839 will exhibit anything but a satisfactory result.
The news from America is generally considered more
favourable, but, as may be seen on a careful inspection
of the voluminous accounts, this judgment is war-
ranted more on looking to the future than the present.
Consols for the Opening left off at 92 to 92e ; Ex-
chequer Bills at :3s. to bs. dis. ; and Bank Stock at
; there was not the least briskness in the
market. The speculators have availed themselves of
the season, and the general paucity of the news to play
truant for a day or two.

Spanish Consols were done at 25-,1,- this afternoon ;
Colombian at 24q- ; and Dutch Two-and-half per Cents.
at 52 4, being all rather heavier than in the morning.
The disposition of the French Cabinet towards Spain is
considered favourable. Portuguese Three per Cents.
fell to 231.
The Railway Shares were without alteration in va-
lue. The Brighton obtained 14A- dis. ; the Southamp-
ton _a prem. ; and the North Midland 10i- dis.

THE THEATRES.

DRURY-LAN±',.

Despite the inclemency of the night this house was
tolerably well filled at an early hour ; and by the time
that the first piece, " The Hypocrite," was over—that
is to say, just at the commencement of half-price, it was
crowded i❑ every part. The pantomime was, of course,
tho great attraction ; and from the first scene to the
last, it was received with great favour by one of the
most indulgent audiences we ever remember to have
witnessed. Though many of the tricks failed, and some
few obstinate cupboards refused to fly wide open, when
Harlequin touched them with his magic wand, yet not
a murmur of disapprobation was heard, once only we
heard something like a hiss, but it was instantly drowned
in a loud torrent of applause. The Pantomime is splendid.
We may say, unusually so. It is founded on the old
story of Jack Sheppard, and follows the popular tale on
this subject pretty closely, till the time when the usual
transformations commence. From this period all is
bustle and vivacity, especially on the part of Miss Frood,
the Columbine, who displayed a grace, an ease, and an
activity not often witnessed on the stage. This young
lady—who, by the by, is a most sylph-like figure—
danced with incomparable spirit, and was seldom
absent from the audience far two minutes together. She
was ably seconded by Howe!, who twirled gaily about in
the whirligig character of Harlequin. Mr. Jefferini has a
lively idea of the Clown's peculiar idiosyncrasy ; but we
scarcely think he exerted himself as much as he might
have done. He flagged a little in places, as though
he had not a sufficient stock of animal spirits to bear him
handsomely through. Mr. Asbury was a passable Pan-
taloon, though a little more grotesque imbecillity would
not have been amiss. The beau ideal of a Pantaloon
is a self-sufficient Zany ; but Asbury was a
little too kaowing at times. The scenery
was magnificent throughout. The moving diora-
ma in particular, exhibited some effects of light
and shade, that even Stansfield has not surpassed.
The closing scene, representing the storming of an
Indian fortress by the British troops, was received
with quite an electrical burst of acclamation.
and it deserved this reception. The tricks are nume-
rous, but they are, for the most part, hacknied. 'l' he
most ingenious one is the sudden change of a
Gin Palace into a Temple of Charity. The
great fault, however, of the majority of the tricks,
is that they are not sufficiently obvious. The hits at
the follies of the times are not broad and palpable
enough. They require the aid of an interpreter. 'lO
sum up this hasty notice, we may observe that when the
pantomime is curtailed, we think it bids fair to run
through the season.

ders), who went through their parts with great adroit-
ness, activity, and skill. Some of the tricks were good,
and one of them in particular furnished some amusement,
viz. the scene in front of Bentley's shop, where Knowles,
Bulwer, and Ainsworth, were seen entering—had
their respective plays stolen from them by the pilfering
Clown—were tumbled into a grinding mill, and came
out, each transformed into the principal character in
their respective dramas. But the great attraction of
the evening was the panorama painted by Mr. W.
Telbin, representing some of the most beautiful scenery
in the county of Wicklow: the Wicklow Hills, Newrath
Bridge, the Vale of Avoca, and the Bay of Dublin,
deserve special commeniation, and do great credit to
the taste and skill of the painter. In the course of the
panorama some beautiful verses by Moore were sung
with appropriate music, which added greatly to the
impression made by the splendid and correct scenery.
The piece concluded with the " Knight of the Dragon,"
in other words, the Tourney of Eglintoun, at which
the identical armour worn on that great day (according
to the play bills) was exhibited on the persons of the
mock knights. The pantomime altogether is excellent,
and when it is settled down into a reasonable size, will
no doubt be one of the most attractive of these Christ-
mas amusements.