The Sun.
London, England, 1839-01-14 00:00:00

THE SUN, LONDON, MONDAY, JANUARY 14, 183 g.

allowed through the whole kingdom, on payment of 2is.
banco per 100 kilogrammes, or somewhat more than
2001bs. From these data the extraordinary nature of the
Danish extortion may be readily estimated. It amounts, in
fact, to nothing less than a repetition of former nefarious
attempts, in other ways always defeated, to damage or ruin
irretrievably the commerce of the flourishing cities of Lubeck
and Hamburgh. The gross injustice of this toll prohibi-
tion is, moreover, as regards this and other countries, offen-
sively enhanced by the prominent partiality displayed on the
exemption of Russian products, either wholly or in part, from
its operation; for, although goods and produce despatched from
Hamburgh to Lubeck, consisting in a great proportion of co-
lonial produce, British cottons, &c., are subject to this transit
tax of Bs. banco, per 1001bs, yet, on the contrary, on raw
produce and commodities forwarded from Lubeck to Hamburgh,
on the same road, a tax of one-half only, or 4s. banco, is levied,
from the payment of which various articles of Russian produc-
tion are even specially exonerated, such as tallow, flax, hemp,
pitch, cordage, linseed, &c. The importance of this exemp-
tion will be understood, when it is remembered that during the
winter months, when the navigation of the Baltic is closed, it
is by this road that the western parts of Europe are supplied
with Russian as well as Swedish products, nor will the disad-
♦antages to which British and other commerce has been thus
arbitrarily and partially subjected be less apparent, when it is
considered that in the shipping season larger quantities of ma-
nufactured goods and colonial produce are despatched by way
of Hamburgh and Lubeck to the coasts of the Baltic, and that
from this oountry particularly by no other way can they be
then forwarded with greater expedition. On the most impor-
tant articles of this trade, the finer qualities of manufactures,
fine spices and dye stuffs excepted, the transit tax amounts to
double the carriage from Hamburg to Lubeck, and in " many
cases may be regarded as equal to a prohibition." The extent
to which the traffic will be thus burdened may be appreciated
by the following examples, taken from the circular alluded to.
On coffee, Havannah and refined sugars, pepper, pimento, &c.
the impost will amount to 2 per cent. ; on Brazilian sugar,
Virginia tobacco, tin plates, 2j- per cent. ; on white lead,
hops, ginger, &c., 3 per cent. ; on train oil, 3i per cent. ;
rum, raisins, lead, &c., 4 per cent. ; brimstone, 7 per cent. ;
earthenware, 5 per cent. ; English vitriol, 14 per cent. ;
slates, 23 per cent. ; salt, 44 per cent. ; cement, 24 per
cent. ; coals, 80 per cent. These are articles in the trade
of which this country is more or less deeply interested,
and the injury inflicted—as ,it will be perceived—is of an
amount which, without prompt redress, must tend to
the serious detriment of the commercial interest con-
cerned, if not to block out our trading intercourse by that road
entirely, which would be tantamount to a stoppage of trade
with the Baltic for a considerable part of every year on the
average. The value of the imports from Hamburg in transit
or for home consumption into Lubeck for the year 1837, is
calculated at upwards of 15,000,000 of mares banco, and its
superior importance will appear by contrast with the value of
Russian and Swedish productions and naval stores imported
and despatched to Hamburg for export, which for the same
year amounted to about 2,300,000 mares banco, or about one-
seventh of the former amount, from which it will appear not
only how considerable the injury really committed towards this
country in particular would be, even had Russian products been
made liable to the same charges, but how unjustifiable and in-
sufferable in addition is the preference shown towards Russia
by the solitary exemption of her products from this vexatious
and iniquitous toll impost. It is surely time that Government
should interfere in this matter, not in behalf of Hamburg and
Lubeck only, but of the interests of British commerce, which
generally throughout the Continent has of late years been in
any but a flourishing condition.

POST.—The return published in last night's Gazette of
the weekly liabilities and assets of the Bank of England, for
the quarter ending on the 11th instant, gives the following
results :—The stock of bullion in the vaults of the Bank has
diminished, on a comparison of the present with the return of
last month, from 9,362,0001. to 9,336,0001., the difference
being 26,0001. The deposits have increased from 9,033,0001.
to 10,314,000/., showing a difference of 1,282,000/., and the
securities from 20,707,0001. to 21,680,0001., the difference
being 973,000/. In the circulation we find a decrease from
18,469,000/. to 18,201,00(11., the difference being 268,000/.
In the accumulated profits of the Bank there is a further and
considerable falling off. The amount exhibited by the De-
cember return was 2,567,000/. By the present the ave-
rage is 2,500,000/. The diminution is consequently 67,000/.
From what has been so confidently stated, with re-
spect to the exportation of the precious metals fur
corn and other objects, it has surprised many persons
to find the average of the first item still maintained at so high
a point. The fact is, we presume, that much of the gold and
silver specie imported into this country is not imported on
British account at all, but as the easiest and readiest medium
that the shippers can find for the transmission of treasure to
the Continent and other parts of the world. The Custom-
house returns only give an aggregate of about half a million
as the quantity entered for exportation from London since the
commencement of the year, and this, we dare say, is consi-
derably beyond the amount actually shipped. The state of the
Bank Rest shows how unprofitable it is to the Proprietors to
retain in their possession so enormous a sum of bullion as they
have done for a very long period, and how little objection the
Directors could probably have to the taking of a few millions
from them for any lcgimate purpose.
It is estimated by persons best competent to form an opinion
of their value, that the shipwreck of the three New York
packets, off Liverpool—namely, the Penns,lvania, the Ox-
ford, and the St. Andrew—will involve a loss to the owners of
75,000 dollars, or about 15,0001. each. They are, however,
understood to be fully insured at New York.

HERALD.—The publication of the quarterly returns of
the average liabilities of the Bank of England has excited the
usual degree of interest here, and, so far as may be ascer-
tained by a comparison of the present specimen of mystifica-
tion with the former, we have arrived at the following results.
It appears that the circulation of the Bank of England, on the
aggregate of the quarter ending with the present month, has
decreased in the sum of 268,000/. ; that the deposits have
increased in the large sum of 1,282,0001., the securities in the
sum of 973,0001., and that the amount of bullion has decreased
in the sum of 26,000/., but the circulation on the year has
increased in the sum of 301,000/., and the stock of bullion in
the sum of 441,000/. The amount of the rest is 2,600,000/.,
which is less than at the previous return by the sum of
67,0001., and on the year by 1 09,0 0 0 / .
The reduction in the amount of bullion, as is shown by this
return, is not of much moment, though it evidences the fact
that bullion is at present a source of profit by exportation to
the Continent, though more is shipped by private parties than
through the hands of the Bank Corporation. The large
amount of the deposits in the hands of the Bank of England,
which are a sort of dead weight upon their hands, equally as
unprofitable as the heavy stock of bullion which they retain,
and whilst it shows that much capital usually devoted to com-
mercial purposes is out of employment, proves also that the
business of the bank has been very considerably affected by
their powerful rivals the joint-stock banks, at present esta-
blished in London, all of which have singularly prospered
during the past year—a circumstance which proves that the
contemplated new Commercial Bank of England has a wide
field for the exercise of its intended operations. As we
are on the subject of banking, it may be as well to say that
the private bankers are generally understood to have
done extremely well during the past year, and that
they have rather benefited than the contrary by the ope-
rations of the joint-stock banks established in Lon-
don, as they have opened extensive sources of obtairOng money
for commercial eizeounts, which were formerly, and to the
public opinion, and, although
commercial interests, most inimically confined to the mono-
poly of the Bank of England. In fact, joint-stock banks are
pthroegpreoswseir of
n the
issuing
paper in London, they
are exempt from the tax of keeping a large amount of
tmhaekyinhgave rapid
no t
bullion
on hand, and at the same time are free from the same chances
of a run during the period of any political crisis to which the
Bank of England is exposed from its close connection with
the Government. The firmness of the market of the British
Fund: to which we have lately referred has been fully main-
tained to-day. The transactions in the Foreign Market have
been more limited to-day, but there has not been any material
alteration in the quotations. Shares have been but in little
request.

REFORM OF THE CORPORATION
OF LONDON.

On Thursday evening last the City Corporate Reform As-
sociation completed the discussion seriatim of the various pro-
positions contained in the scheme of reform lately proposed
for their consideration. It was referred to the Committee of
Management to revise the propositions as a whole, and present
them, with such suggestions as may appear expedient for
giving effect to them, by:petition to Parliament, or otherwise, to
the Association at their next meeting, on Thursday, the 17th
ofWanuary, when a very large attendance of members is antici-
pated, more particularly as it is very confidently reported that
the Law Officers of the Crown have received instructions to
prepare a bill for the reform of the two metropolitan cities of
London and Dublin, to be presented to Parliament as one of
the earliest measures of the ensuing session.
The following is the scheme, as now agreed upon by the
Association :
" I. That with a view to the attainment of the most effec-
tive an least expensive system of local government, it is the
opinion of this Association that all corporate reform should
halve for its object to place the election of the representatives
and governing officers of the citizens, and the administration of
their public fends, under the effectui4 control of the citizens.
" 2. That en uniform right of voting should be established
for the election of the mayor, sheriffs, aldermen, chamber-
lain or treasurer, eommon-councilmen, and auditors of this
City.
" s. Thet such right of voting should be enjoyed by all
persons who shall have been for a period of not less than six
months occupiers of houses, lends, tenements, or premises
within the city of the annual value of not lei than 101. ,• that
such persons shall, by virtue of such occupancy, and during
the continuessce of the same, be deemed isz be free of the city;
and that all ices and foie now payable on adatiesion to free-
dom, and all exclusive rights of trading, ottight to be abolished.
" 4. Ties the bonsa of the several tolls ;Should be al-
tered, so le to make them as nearly equal with respect to the
number of electors in each weird as nosy be practioable.
" 5. The. the number of words in the city should be 12,
and thst there should be elected for •cals ward one alderman
amd nine eoramon-councilmen.
" 6. That the common-councilmen should be elected annu-
ally by the electors of each ward, assembled in their respec-
tive wardmotes.
7. That the aldermen should be elected triennially by the
electors of each ward, assembled in their respective wardreotos.
‘4 a. What the mayor, sheriffs, chamberlain or treasurer, and
auditors should be Plecte4 emailfy in the common-hall by all

the electors there assembled, and without any veto on the part
of the aldermen.

9. That the times for holding elections should be conso-
lidated, and that there should be two days for nomination and
one day for election—viz., one day for the nomination of
mayor, sheriffs, chamberlain or treasurer, and auditors, in
common-hall; and one other day for the nomination of alder-
men, common-councilmen, and other ward officers, in the
several wardmotes : the former to take place a few days be-
fore the latter, and in the event of a poll being demanded in
either common-hall or wardmote elections, the poll to be taken
in each ward of the several electors therein on the day follow-
ing the wardmote nominations.
" 10. That the vigilance of the electors is sufficient to pre-
serve the respectability and character of their representatives
without requiring any pecuniary qualification, and that every
person qualified to vote in the choice of aldermen and com-
mon-councilmen, and none others, should be qualified to be
elected to those offices.
" 11. That the Court of Mayor, Alderman, and Commons,
in Common Council assembled, should be authorized and re-
quired, from time to time, to nominate so many fit and proper
persons, not exceeding 26 in the whole, and being severally
members of such Council, as to such Court shall seem expedi-
ent, as being qualified to act as justices of the peace for the
City and its liberties, and that such persons should thereupon
under the several letters patent and grants from the Crown to
the citizens now in force be authorized to act, and thenceforth
continue to act, as such justices in the same manner as alder-
men now act as such, provided that every person so to be no-
minated and authorised be resident within the city of London,
or within 10 miles thereof, during the time lie shall act as such
justice of the peace.
" 12. That it is expedient that one or more salaried police
magistrates should be appointed for the city and its liberties;
that the Court of Common Council should be authorized to
nominate such fit and proper person or persons for that office,
and to direct such salary or salaries to be paid to him or them
out of the corporate funds as to such Court shall seem expe-
dient, and that the person or persons so nominated should
thereupon, if her Majesty shall think fit, be appointed by her
Majesty a police magistrate or magistrates, and a justice or
justices of the peace for the city and its liberties during her
Majesty's pleasure. In all cases of vacancy in such office of
police magistrate the same course to be pursued with refe-
rence to any new appointment.
" 13. That the mayor should be chosen from the unpaid
magistrates of the city, who have served the office of sheriff.
" 14. That the Court of Mayor and Aldermen in the inner
chamber should be abolished, and its civil functions, in the
election or admission of officers, or otherwise, transferred to
the Court of Mayor, Aldermen, and Commons, in Common
Council assembled ; and that for the future the funds and in-
come of the city should be under the control and expended
only by the authority of such Court of Common Council, as
being the representatives of the citizens.
" 15. That the number of members required to be present,
in order to constitute a Court of Common Council, should not
be less than one-fourth of the whole Council ; that the mayor,
if present ; or, in his absence, such aldermen ; or, in the ab-
sence of all the aldermen, such common-councilman as shall
be chosen by a majority of the members present, should pre-
side at such Court, and have a second or casting vote in all
cases of an equality of votes ; and that in case the mayor
should at any time refuse to call a Court of Common Council,
after a requisition for that purpose, signed by at least ten
members of the Council, such Court should be called by ten
members signing the requisition.
" 16. That by two several charters in Parliament of the
15th of Edward 111. and 7th of Richard 11., it is granted and
confirmed to the mayor, aldermen, and commonalty of the
City of London, that if any customs of the City shall be harsh
or defective, or any new emergencies arising therein shall need
amendment, for which no remedy had been before provided,
the mayor, aldermen, and commonalty may, as often as it shall
seem to them expedient, ordain and provide a remedy accord-
ing to good faith and consonant to reason, for the common
advantages of the citizens and people resorting thither, pro-
vided that such ordinances be useful to the King, and his peo-
ple, agreeable to good faith, and consonant to reason, as afore-
said ; that such legislative power was with all the other rights
and privileges of the citizens of London confirmed by the sta-
tute of 2d William and Mary, passed on the completion of the
revolution of 1688 ; that it has been constantly exercised, and
forms the foundation of many of the more useful and important
ordinances made by the mayor and aldermen and commonalty
from the earliest possession of the power to the present time ;
that it has also been established by various decisions of the
courts of law during the same period, and that in the opinion
of this association such legislative power of remedying defects
in the civic constitution is essential to the maintenance of the
rights and privileges of the citizens, and should therefore be
preserved unimpaired.
" 17. That the Commissioners of Sewers, the corporation
of the Irish Society, and all other commissioners or commit-
tees for trusts, or for charitable or other purposes, appointed
by or emanating from the Court of Common Council, under
acts of Parliament or otherwise, should be under the direct
controul of and amenable to that body.
, " 18. That such further legal powers should be conferred
on the Court of Common Council as may be required to en-
able the Court to abolish all useless offices and places, and to
consolidate such as it may be expedient so to deal with.
" 19. That the right of addressing the Sovereign on the
throne, and all other the powers and privileges of the Court
of Common Council not hereby proposed to he altered and not
inconsistent with the principle hercinbefore declared, nor in-
compatible with the interest of the metropolis at large, should
be continued to that body.
" 20. That the Court of Hustings, the Court of Mayor and
Aldermen in the outer chamber, and the two Sheriffs' Courts,
should be consolidated into one court, of which the Recorder
and one or more qualified persons, as may be necessary, shall
be the judges, and that all barristers and attorneys practising
in the superior court should be permitted to practise in such
new constituted court.

" 21. That the Act of the 11th George 1., c. 18, for regu-
lating elections within the city, should be repealed, and such
other legislative meaeure applied for as may be required to
carry into effect the preceding resolutions, leaving such of
them as can be effected by the authority of the Court of Com-
mon Councilt o be perfected by that Court after it shall have
been reconstituted as heretofore proposed."