The Sun.
London, England, 1839-11-21 00:00:00

THE DERBY.

33 to 2 agst Wardan
18 to 1 agst Angelica colt—offered
18 to 1 agst Launcelot—offered
18 to 1 agst Brother to Euclid—offered
20 to 1 agst Muley Ishmael
25 to 1 agst Glenorchy
25 to 1 agst St. Andrew
200 to 7 agst Maroon—taken
33 t• 1 agst Lucetta colt
33 to 1 agst Lady Sarah—take 35
40 to 1 agst Marinella—offered
45 to 1 agst Gambia—take 50
1000 to 15 agst Mayboy—offered
100 to 8 agst Lord Exeter's lot—taken

ST. MARY-LE-BONE BANK FOR
SAVINGS, 76, WELBECK-STREET.

OMPARATIVE STATEMENT OF PROGRESS AT
SPECIFIED PERIODS.

Open Deposit
Accounts.

Sums invested
with

National Debt
On the 20th Nov. 1830.
, £462 £4,124
1831 1,234 13,724
1832 2,059 24,739
1833 3,471 45,110
1834 4,948 69,731
1835 6,492 95,590
1836 8,328 126,209
1837 9,947 155,909
1838 11,278 196,334
1839 11,935 223,353

THE HON. EAST INDIA COM-
PANY'S STEAM FRIGATE, THE QUEEN.

This magnificent ship of war, of gOO tons, and of
which we have before given a description, in her pas-
sage to Portsmouth' has proved herself to have all the
properties of one of the fastest sailing vessels in the
British Navy. She made the passage from Hythe to
Portsmouth, solely under canvass, in forty hours, with
the wind directly against her, and not much of it. She
passed every description of vessel she fell in with, and
presented to them the novel and extraordinary sight of
a steamer without wheels or funnel beating to wind-
ward as well and as fast as the best frigate in the Royal
Navy.

No expense has been spared in the fitting up and
the equipment of this ship and the Cleopatra, another
steam-frigate of the East India Company, of the same
dimensions, sailing in company with the Queen. These
vessels do great credit to the Court of East India
Directors, as evincing their conviction of the neces-
ity of a powerful fleet of steam ships to guard the
oasts of the different Presidencies in case of a war
with any Foreign Powers, to keep up a rapid commu-
nication, and for the quick transmission of troops ; and,
above all, in case of having to carry war into the
territories of any hostile power whose shores are accesi-
ble by sea, to sweep every obstacle that may present it-
self before them. As ships of war there is no question
of their capabilites. Captain Warner, the commander of
the Queen, is an officer of great experience ; and if a
Burmese war should break out, he will, with the Queen,
be found most useful. During the late Burmese war he
led the fleet into the Arracon river. He also served in
the cruisers on that dangerous coast in the affairs of 1811
and 1812. He is in every respect deserving the high
charge and honourable command to which he has been
selected, and no doubt when occasion calls for it he will
afford ample proof of it.

(WEDNESDAY EVENING.)
POST.—From what has transpired in the City to-
day respecting the affairs of the late Mr. Sims, it would
appear to be but too true that the unfortunate gentle-
man has been very extensively implicated in the recent
losses arising upon Spanish Stock transactions. The
clubs at the west-end of the town have, as we have al-
ready intimated, been great losers, and Mr. Sims is
said to have been connected with them. We are unable
to state how far this may be correct, but, at all events,
there has been an immense amount of the bonds pressed
upon the market, and the sum sold for the estate of Mr.
Sims is understood to have been within a trifle of a quar-
ter of a million. It came out in the evidence given at
the inquest held on the hody,that Mr.Sinis had contem-
plated a journey to •Madrid with his brother. This
fact tends to confirm the idea that he had embarked a
serious sum of money in the public securities of
Spain, and his anxiety to visit the capital of that
country is now naturally assumed to have been founded
on a determination to satisfy himself; by personal obser-
vation, of the actual condition of the Government in a
financial point of view. General Sooane entered some
time ago upon the task of investigating the causes of
the gross breach of faith committed by the Government
on the foreign creditors of Spain, but General Seoane
was forthwith invested with a command in Catalonia.
Senor Calatrava has since insisted in the Cortes upon
being informed by what treachery it was the credit of
his country had been reduced to the state of prostra-
tion in which it has been for the last three years. As
in the case of General Seoane, means seem, however,
to have been found for suspending the inconvenient
interrogatories of Senor Calatrava, and we fear, there-
fore, that the bondholders may look in vain for any
further explanation of the schemes which have been
resorted to by Spain in order to rob them of their
property than that which was afforded in 1837 by
Mendizabal. The ex• Minister of Finance with-
held from the public knowledge one thing which it
was of the last importance to the bondholders to
have had officially stated, namely, who were the un-
principled persons here that acted as his agents in the
nefarious business of putting new stock into circulation
in the previous year ; yet if the bondholders have read
with the least attention what we have made public upon
this point, there can be no great occasion for them to go
to Madrid to ascertain more. The vote of confidence
gave Mendizabal the power to issue by stealth new
stock to the amount of between four and five millions,
as well as to re-issue that which had been redeemed ac-
cording to law, and out of this transaction he got—for
he distinctly acknowledges it—from the pockets of Bri-
tish capitalists, and their clients and supporters, no less
a sum than about a million and a half sterling. With
facts like these before us, we repeat there is no necessity
for us to go to Madrid to learn more, nor can we be sur-
prised that the victims of such atrocious frauds should
he unable to bear up against their losses. Mr. Sims pur-
chased the chief part of his stock, we understand, at :39.
and upwards. The present price is about 6 per cent.
under that quotation, and this, it is to be observed, in
spite of the retirement of Don Carlos from the civil con-
flict. What must be the suspicions of a large holder,
under such circumstances, of foul play being again in
operation ? Mr. Sims, like many others, was ashamed
no doubt to admit the extent to which he had been
duped by the Spanish Government and their London
agents, after all the warnings of the Morning Post,
but being reduced to a state of distraction by the in-
jury, the matter necessarily comes out, and we hope at
any rate that an awful occurrence like this will operate
as a caution to others who may be addicted to similar
dangerous speculations in the funds. The dishonesty
of Spain towards her foreign creditors seems to be a
subject worthy of investigation in Parliament. The
press, we are sorry to say, has not done its duty. The
conduct of the Americans, whose integrity as a nation
there seems to be no just ground for questioning,
has been a subject of incessant animadversion ; yet
Spain and Portugal, whose want of integrity is proved
beyond all doubt, are almost entirely spared. A brief
statement of the delinquencies of both the one and the
other in the House of Commons, if it were productive
of no other benefit, would at least serve to give the
fullest publicity to them.

The English Funds were firm all day, but without
much appearance of activity.
The accounts last received from Brazil advised a
material rally in the price of the local stock, which had
previously suffered so heavy a depreciation. The im-
provement adverted to is accounted for in some private
letters we have seen partly, and, indeed, principally on
the ground that the Finance Minister at Rio hopes to
be able to get through his difficulties without having
recourse to another foreign loan. The committee of
finance have declared themselves to be almost unani-
mously opposed to such a measure, and it was be-
lieved the Legislature were prepared to pass a reso-
lution to the effect that it would be contrary to the
best interests of the empire. Money to some amount
would, however, shortly have to be raised to pay up
the arrears due to the army and navy, and for other
matters, and the scheme adopted for the purpose will
probably be that of issuing forced Treasury notes at
six, twelve, eighteen, and twenty-four months' date, to
bear interest at the rate of 7 3-16th per cent. per an-
num. The reimbursement is proposed to be guaranteed
by the amortization of a portion of the debt, by a reser-
vation of wine duties, &c. Another project of law, the
object of which is to put the home debt on a better
footing, was talked of as a means of maintaining the
public credit.

It is somewhat amusing to see with what extra-
ordinary perseverance the Americans are endeavour-
ing to revive a demand i❑ the English market for
their State stocks. The newspapers—the Morning
Chronicle more especially—teem with letters calling
the public attention to them, and setting forth in
the most glowing language the superiority of the.
commodity, as if a really desirable article could need
any such extravagant commendation. The earnest.
ness with which a linen-draper insists upon the excel-
lence of a piece of finery which is going out of fashion,
and which he is consequently most anxious to get rid
of, has been contrasted with the perseverance with
which an old clothesman exposes the thinness and
other bad qualities of the habiliment he is equally an-
xious to purchase. There is consequently nothing new
or wonderful in the policy of the American stock and
share proprietors. They are in the position of the
draper. These investments are getting sadly out of
date, and it will be a very long time, we think, before
they enjoy the same favour again in England that they
have done. The market has boon greatly overdone with
them, and if the interest continues to be regularly paid
upon most of the number during a period of profound
and general peace, it does not follow that it would
be in a time of war, and such a season may
come upon us whoa we litt'e expect it. England
has not at present any more money to spare, and
it is far better that America should suspend her canal,
railway, and other improvements until she can afford to
pay for them out of her own resources. The Philadel-
phia Banks appear, according to the accounts received
by the Scotland, to have perfectly reconciled themselves
to the alternative of stopping payment once more, as
they did in 1837, rather than part with specie in co-
change for their notes, and for which they have the
sanction of Mr. Biddle, the late President of the United
States Bank ; but it is quite clear that, upon this prin-
ciple, America must be totally ruined as a commercial
nation. In this way it is easy enough to avoid the in-
convenience of making good to foreigners a balance of
trade established against her, though it is not quite so
easy to obtain further credit. Mr. D. Webster's puff
in favour of the State securities will have but little
effect now.

HERALD.—We regret to learn that three com-
mercial failures have taken place to-day ; one of the
parties are connected with Lloyd's, as brokers, and one
in the East India trade.
There has been more disposition manifested on the
part of the public to-day to make investments in the
British Securities, particularly tha heavier annuities ;
and there is no doubt that the discredit which has fallen
on the United States Securities, and the difficulty of
realising them in this market will tend to turn the tide
of spare or unemployed British capital towards British
Securities, which, under any national calamity, have
never, as it were, been annihilated by a refusal to pay
the dividends. This cannot be wondered at when x e
consider that the American paper debt cannot be much
less than 140,000,000 dollars.