The Sun.
London, England, 1830-01-26 00:00:00

MONEY-MARKET.

The continued demand from Holland for the
low-priced stocks in this market excites perhaps
less of the attention of the monied interest than
it deserves to do, for the cautious and calculat-
ing character of that nation, in all that relates to
money-matters, should gain them credit for some
motives in what they are doing, and make other
countries consider how far they are worthy of
imitation. The process now going on seems to
be the reverse of that-which took place in 1824
and 1825. We were then lending money to
coutries where no one principle of order or of
public credit existed, and whence, consequently,
not a shilling came in dividends beyond the
amount reserved at the time of making the con-
tracts. When that fund was exhausted, the
loans all fell to about one-fourth of the original
price. None of these follies, however, though
the example was near, and stimulating, were
committed in Holland, nor were purchases to
any extent made there of the.stock thus created.
At this moment, when a better order of things
is apparently beginning to dawn in the new
world, the holders of these funds are taught to
believe them of no value, and to throw them
away for whatever the market will vield. Yet
the stock itself is not only better, looking to the
political condition of the states by which it has
been ',created, but by the accumulation of the
dividends in arrear, which "must add materially,
whenever an adjustment takes place, to the ca-
pital of the debt. The Dutch, it is evident, '
view these matters very differently, and looking
to the decrease in the value of money which has
lately taken place throughout Europe, they esti-
mate, as we should imagine, what is the worth
of a deferred annuity to periods varying from
five to twenty years, for that is the true light
perhaps in which to regard our " desperate"
debt, and take their measures accordingly.
There are many leading commercial men in
the city, of sound and enlightened views, who
are beginning to regard the question in this light,
and, actuated too with the benevolent design of
assisting the thousands of unfortunate and help-
less holders of these stocks, to take steps for
inducing a better feeling towards them on the
part of the Spanish American states. They
seek also to obtain all the aid which our own
Government may with propriety give for this
purpose. They are liable, as most people who
do good actions are, to be assailed by the vul-
gar and malevolent with the charge of stock-
jobbing, and other accusations ; but the indivi-
duals to whom we allude are too high in charac-
ter to regard them, and feel convinced, that to
recover fbr England this immense debt would
not only prove a signal benefit to individuals, but
would perhaps act as a new stimulus to the
drooping industry of the country.
Government can, it is true, do little for the
sufferers, because its declared policy is not to
convert a loan transaction into a political ques-
tion ; but something may, no doubt, be done.
As a better class of men spring up and take the
lead in those yet infant governments, our Con-
suls and Envoys may do much, by pointing out.
the advantages they would gain by bringing into
practice sounder views of the true nature of cre-
dit ; and it would not, perhaps, be too much
for a British Prme Minister to do, where so
great a good was at issue, to require of all those
states by which an acknowledgment of inde-
pendence or treaties of commerce were called
for, that they should first prove themselves
worthy of being placed on a footing of friend.
ship with England, by the payment, so far as
they were able, of their acknowledged debts to
IBritish subjects.
If the advantages of credit to the countries
themselves were to be demonstrated, the example
of the United States is close at hand, and re-
cent in time, for the purpose. In the year 1783
the funds of the union were purchased at ten per
cent. of the value at which they were issued. In
three or four years afterwards they were funded
in 6 per Cents., 3 per Cents, and deferred
stock ; the 6 per Cents. soon rose to par. A
correspondent, who has furnished some useful
hints on this subject, tells the following anec-
dote, to show the deplorable state into which the
credit of the United States had at one time
fallen :—" Mr. Robert Morris, at his own table,
related to me, that being the Finance Minister
of the union, he began to issue paper dollars in
1775, when they were worth par in bullion. He
continued to manoeuvre by every means to sup-
. port their value, and issued them until they
would not pay for the printing, I. think 1,000
paper dollars for one of silver. At that time
1,000 dollars were paid for a breakfast. Fallen
into contempt, they became waste paper, and
were applied to paper trunks and other ignoble
purposes. These very dollars were afterwards
called in at 70 to 1, but very few were Vt."
Of revolutions in the value of stock, there is
none more extraordinary than the example,
nearer home, of that of Prance. At one period
the .5 per Cent. Rentes were at 9 per cent. only,
and M. Talleyrand, if report says true, realized
a great part of his princely fortune by purchas-
ing at that price. In 1814, a house in Lon-
don subscribed 3,0001. to the French loan of
125,000,000 francs made in that year, which
fell so rapidly that the partners, in their estbna-
iatlionthe of property, valued it only at one shilling
or 1501. In 1817 they received
8,0001. for it.

These hints are thrown out, not to invite
speculation, but to assist the holders of our
desperate debt" to take a more accurate view
than most of them probably are able to do of
their real situation.—Times.

THE S TO It m.—On Thursday, Sherwood
Forest occasionally reminded us of tle disastrous retreat of
an army in the northern climates. Groups of deserted
waggons, all abandoned by the drivers, who, with their
horses, were struggling through the snow, almost ex-
hausted with their efforts. We observed between Eakring
and Mansfield, a tistance of eight miles, no less than eight
or nine teams thus abandoned.—Noitingleant Mercury.
The number of actions commenced in the three
superior Courts at Westminster, on an average of five
years, amounts to nearly 50,000 per annum.
BANNOCKBURN.—Two Ztglish gentlemen
visiting the field of Bannoeltburu, so celebrated for the de-
feat of Enwattn's army, a sensible countryman pointed
out to them the positions of the hostile nations—the stone
where BaucE's standard was fixed during the battle, 84c.
Highly pleased with his attcntion, the gentlemen, on leav-
ing, pressed his acceptance to a crown-piece. " Na, us,"
said the honest man, returning the money, "keep your
crown-piece, the English hue paid dear aneugh already for.
seeing the field of Batmovkburn."—Aberdeen Observer. -

KtuteNNr.—Butter rb's to CS& per cwt. ; Wheat 295. to Sh.
per barrel ; Flour 136. to 3(i s. per bag; Oats 96. to I ls. per bar.
rel ; Barley les. to 126. ; Beef 4d. to 54d. per lb. ; Mutton 3d.
to 4d. ; Potatoes sd. per stone; Coals 16. 2d. per cwt. ; Bacoi
Pigs 245. to 20s per cut.

HUDDERSFIELD.—The sale of goods, on
Tuesday, was greater than for many weeks past, and fee
several markets there has been a progressive demand. In
nuking this statement it is necessary to observe that this
improvement is confined to the woollen cloths only, and
consequently can give no additional employ to the great
bulk of the distressed in the out-townships, whose occu-
pation is that of fan,y-weaving. We trust, however, that
we 01%11 long hare the gratification of noticing an increased
demand fur goods, even should it be confined to one
description, as in that case an improvement in price
must eventually follow,—a consummation which has nor
yet arrived.—Halifax Chronicle.

HOW TO ST7.AL A P4o.—On Sunday a fat
pig, belonging to Lt r. SuAw, of Worsbro' We, public-an,
and supposed to weigh twenty stone, was driven from it•
stye. Dr. CROOKS, of Barnsley, who was called cot early
on professional duty, met two men in a neighbouring lane
about four o'clock, driving a pig ; he acco4ted them and
charged them with having stolen ;t, and domande(' what
they were doing with it. They pitifully and artfully re-
plied, Our landlord i 4 going to sell us ❑p f,r rent, and
we are determined he shall not take the pig." The Doc-
tor then went on his way—so did the thieves, and have
not since been beard of.--Macclesfield Cour;c.

,
It is curious enough ti;:qt at kAteraiort, an
obscure village in Bavaria, the scene of Sir WALTrat
Scores drivrta of " the House of Aspen," the prix eipai
tenant is a Scotch fanner, speaking the b,rc,aile,t dialect
of the Lothians, and incapable of six words of (lertuan.
This singular exile is the acting bailiff to a Bavarian
Baron, a banker at kttAich, who visited Scotland some
years ago, in search of an agriculturist and the modern in-
lewhich, although in a
hilly country, ts,nd irompooed of a wet c'ay, had always
been tilled, previous to his arrival, in horizontal furrows
His sole grievance in this remote and lonely resilence is, a
paucity of "fot floishe ;" the Bavarians entertaining a
Peinnitsn ofthe hid
d r calling.ainage cf 8 1141711:7 1s 14:
cssfUl4 been eminently sue-
very Oriental preference for lean meat.—Cort

(From the Times.)
The proceedings of this conniiission are ceu
ducted with profound secrecy. Our igliortace
of the specific points to which its inquiri•?s arc
directed need not, however, prevent us from
aggesting such as, in our apprehension, require
'4strection.

Our preceding remarks, we have reason to
think, have created dissatisfaction amongst the
proctors of Doctors'-commons, who naturally
feel hurt at being held up, as it were, to public
reprehension. An explicit declaration of our
views, with regard to this body, seems, there-
fore, a debt of justice to them and to ourselves.
No branch of the legal profession, compre-
hends, we sincerely believe, more respectable and
honourable men, and fewer disreputable mem-
bers, than that alluded to. But the public in-
terests demand, in all cases, even in that of the
highest magistrate in the land, a surer safi,gu:4r(l
than individual honour and integrity. Ntvcr-
theless, according to the constitution of the Ec-
clesiastical Courts, the public have little or 110
real security, as we shall presently show, again 4
exorbitant charges, beyond the character of the
proctors as a body.
Of what ingredients do the oppressive costs
of an ecclesiastical suit consist ? Not the fees
of the judicial functionaries, for they arc, except
in the aggregate, extremely moderate. The
judge's fee (although he receives no salary) fOr
a sentence, which demands far greater labour
than that of the advocate (who sometimes re-
ceives thirty guineas), is only one pound at the
utmost. His other fees are trifling; 71. 10d. is
the very highest, part of which he pays to the
registrar. The whole annual amount of the

judge's emoluments in the Court of Arches (the
superior court), according to a return in the
year 1798, was IW. 12s. 5d., and the Commis-
sioners of Inquiry, in '1823, stated that the
amount had not materially increased. The costs
of an ecclesiastical suit arise mainly from the vo-
luminous writings in the cause, and from the
proctors' fees. •
The bulk of the writings consists of the de-
positions of the witnesses. It was originally the
dut) of the registrars to take down these depo-
sitions. They are now, however, taken by exa-
miners, ten in number, appointed by the regis-
trars, and who are paid in proportion to the
length of the depositions. These examine►:s ;:re
all proctors, not retired, but in full practice !
The costs incurred in ecclesiastical suits,
whether between party and party, or between
proctor and client, are taxable by the registrars,
three in number. But these registrars are sine-
curists : this important and essential duty de-
volves upon the deputy-registrars. These de-
puty-registrars are proctors, practising proctors !
Thus, it must necessarily happen, in the or-
dinary course of business, that proctors, in these
various and conflicting capacities, take the de-
positions in each other's suits (whi,:h create the
bulk of the expense), and tax each other's costs !
It the judge exercised an im.diate cot troul
over the taxation of costs,. this might provide at
least a theoretical check. But he exercises none
at all ; he can exercise none.* Costs are the
peculiar jurisdiction of the registrar. Unless
some shameless extortion, or flagrant malversa-
tion, appears, a suitor who complains of the
magnitude of his costs is directed to a court of
law,—a remedy, or rather nostrum, of very equi-
vocal efficacy.

Without inquiring whether these practices
consist with the letter or spirit of the canons,
and without criticising the items of a proctor's
bill of costs, some of which, we believe, would
hardly bear a severe criticism, we ask whether
this is a system with which the public ought to
be perfectly satisfied ? Whether there be or be
not any abuse in all this?
And when we speak of abuses in the Eccle-
siastical Courts, let it be understood that we do
not confine our scope to Doctors'-commons : it
embraces the whole machinery of the system ; it
takes in the entire series of ecclesiastical juris-
dictions, appellate, subordinate, and exempt,
from the High Court of Delegates to the hum-
blest diaconal court in the province. It is in 0-le
country courts, indeed, which are gayety-ea by
the same rules of proceeding as the hi pier ones,
where the evils likely to be generated by such a
system as that we hare described, are sure to
luxuriate.

The argument. urged in reply to the complaint
of excessive expense in these courts is, that the
costs are as moderate as they can be, consistently
with the mode of proceeding there. If this be
the case, surely the least evil will be to simplify
the mode of proceeding. The delay too, when
considerable, is said to be occasioned by the
parties themselves ; if so, the obvious remedy is
to disappoint them, by revising those forms
which admit of being thus abused. The limit,
in such a case, is not in the parties, but in the
court, which ought not to be made an arena filr
a pair of gladiators to fight till one is out br
breath.

The nucleus of all this mass of tnisAief Svill
be found in the anomalous practice of these
courts. We shall show this, when we recur to
the subject.

• Sentence of Dr. I:usliington, in th ease of " Smyth
v. Loved,l," iy tl*.e Consistor♦ Court, Mary Tenn, 18729.

BRIDGE ACROSS THE URY.---We observe
with pleasure that a meeting is to be held of those inte-
rested in the erection of a Bridge across the Ury, at Son-
terford. Every step towards improving the approaches of
the rising Burgh of Inverury tnust be of import:nee. The
situation of Itiverury, in the midst of a fertile district, has
long marked it as an eligible site for cattle tuaxliets, as well
for drovers as for the Aberdeen ileshers aerordingly,
the Inverury markets are considered many as the first in
the county. Situated also at 46 lead of the Abeerden-
.hire Canal, and with the woripect of a regular grain mar •
ket being established, the new bridge will be the means of
enabling a wide had senile district on the narehof the UrY,
participate ia the local advantages whieh, Invernry pre-
sents...,Aberdeen Observer.

A merchant resident at Prague gave a di..iner
to a number of friends, The Court of Vienna had, about
the same time conttaoteti a loan—all the guests ',ere agreed
in blaming this qieration. Next day the ear:chant was
sent for by the Dire: or of Police, to give wane explanation,
about what had passed at his house nu the preceding evc.n.
ing. He alleged that any individual, had a right to diFs..
cuss financial questions in *se interior of his own
He was answered that, seat being a banker, f..1..na sort of
questions did no: ;aueerse him, , and that, it happened,
twain that hs should rain or indalp hlinulf in
disensakms, he would be punislicel wide impresoliwnt„
On his return home, tho !merchant was well convinced
that he could only have Lten denounced by his domestic, ;
he turned the et he of them away. He was agile called
be.fore tlr.l supreme Director of the Polk*, who peevish'y
asked what motive could have induced him to diseloi-ge
his servants; and on his replying that he conceived he lea-4
a right to act in his own house as he liked, thit
(who was an Imperial Councillor, Knight of an tkdr;.„
and bearing the title of a Colonel) did not bhola to. v.tisv
to him, on his honour, that his servant!, bet not de-
' emuneed hit,, hoping thus, no doubtl te, sueeeed iu e)4,
ta.ofold object of rendering his, ii,f4uses. snspectc-d, and el
inducing him to retain 'service the very individuals,
he had turned aw.i.i,.l4S lay whom the polire had been see
well served. Almesterial journal of Belgitti:az ):Mee this
erticle tu, show the pat real care of that kr.,:i.e,,ot gore th-
tnent which the AI:o-to!i.;a1 faet.i's.4 w:t4 to I),,P"e
ou France.