The Sun.
London, England, 1837-04-10 00:00:00

MONEY MARKET

When we stated yesterday (Friday) that a conference had
been held with the Chancellor of the Exchequer by the Go-
vernor and Deputy-Governor of the Bank of England, we
were aware that a firm in the American trade was in the great-
est difficulty, and had applied for assistance ; but as the ad-
journed meeting of the Directors did not terminate until past
seven o'clock, and as nothing transpired in the city, we re-
frained from alluding to it until it was ascertained what was
their decision on the subject, and the object of the Bank in ap-
plying to Mr. Spring Rice. Not to mention the name of the
house in direct terms, now that it is so publicly spoken of, but
leave it to conjecture, would be doing injustice to others.
It appears, then, that Messrs. George Wilde and Co., in
consequence of the non-arrival of packets with remittances,
and other causes, found it impossible to meet the engagements
coming due to-day ; and, to be brief, told the Bank that un-
less a considerable sum was advanced to them, they must stop
payment this morning : stating, at the same time, that they
were totally unprepared to tender any other guarantee than
their personal security. The system of the Bank of England,
it is well known, has always been to refuse, unhesitatingly, to
make advances except upon approved securities, so that
the application of itself was a novel one ; but as it was
represented to them that an awful state of things might be
brought about by their withholding succour, the request
was taken into consideration. After much discussion, it
was resolved that the Government should be made ac-
quainted with the business, and the meeting, as we stated,
adjourned until half-past five for that purpose. No propo-
sition, it appears, was, however, made to the Government,
and the only remark which fell from the Minister was that
he supposed they knew what to do. After this waste of
time, so precious to the credit of Messrs. Wilde, it was de-
termined, but not without much opposition, that the Bank
should take upon itself the liabilities of the firm and wind
up its affairs. This is, indeed, an important step, and wholly
at variance with the rules of the Bank. .

When difficulties such as are now experienced in this
country, and affording but a short time for reflection, have
to be decided upon, it is hard to give general satisfac-
tion ; and however the Directors have erred in the present in-
stance, it must, in a spirit of justice, be acknowledged, that
they have shown an anxiety to what in the sequel should be
best for all parties. An instance of this was the prompt man-
ner in which they adopted the proposition, which we explained
circumstantially a few days since, of offering terms to the
Bank of the United States, by which that establishment
would be enabled to furnish bills of undoubted solidity to
such as have remittances to make to England ; thereby re-
moving one of the greatest impediments to a quick and sa-
tisfactory liquidation of outstanding matters. The answer
of the Bank of the United States to this proposition, which
was forwarded to America at the close of March, may be
expected by the middle of May, and offering, as it does to
that establishment a good field for a profitable return, little
doubt is entertained that the opportunity will be taken advan-
tage of.—Morning Chronicle.

DkIaTITUTION IN ORKNEY.—" Famine has al-
ready commenced, as several families are in want of the com-
mon necessaries of life, having neither meal nor potatoes in
their houses. Before midsummer, I fear that two-thirds of the
population will be in circumstances of destitution. Several
families have been reduced to live on limpets and wilks (shell-
fish), without bread, which I fear will ultimately prove more
mortal in its effects than the famine itself. Others have been
confining themselves to two meals a-day, and some to a certain
allowance of meal, scarcely sufficient to support nature. What
will become of these poor people God only knows, as there is
scarcely any here who can assist his neighbour." We trust
such affecting statements will induce individuals still to come
forward in aid of their fellow-men, under such calamitous cir-
cumstances.—Edinburgh Courant.
A young woman, Mary Ann Cutts—being the
fourth now in custody on similar charges—was examined be-
fore the Magistrates at Chelmsford, on Tuesday, on suspicion
of setting fire to premises at High Hall, in Tollesbury. Miss
Harriet Rand, who resides with her brother and sister at High
Hall farm, stated that betwen six and seven in the evening of
the 30th of March, she was sitting by the parlour fire friend,
when the prisoner, who was in her service, ran in and ex-
claimed, " Lord, ma'am, there's a fire." Witness ascertained
that it was a lean-to at the back of the house, which had a
quantity of wood and straw in it, and to which the prisoner wag
running, when she pulled her back, to take a pail of water.
Witness then went with her to the spot, when she found a
Mrs. Barfield had succeeded in extinguishing the fire. As
the men had all gone home before the fire broke out ; witness
suspected the prisoner, and she immediately set about exa-
mining very closely the place where the fire broke out; in do-
ing so she found part of a match, which she produced, and
which she believed was one from a bunch which was then it
the tinder-box in the house, and on comparing them she found
they exactly corresponded, which greatly strengthened he]
suspicion, as the prisoner was the only person who I:ad the
use of the box. The prisoner was a stranger to witness when
she came into her service, which was about the 14th of Feb-
ruary, and about a fortnight after a fire, the origin of whict
had never been discovered, broke out in the farm-yard, con.
suming the whole of the out-buildings. The prisoner was re.
manded. She is about sixteen years old.—Chelmsford Chro,
nick.
The Jutnna, Robinson which arrived at Liverpool
on Wednesday, sailed from Canton on the 18th of December
having made the passage from port to port in the short spat(
of three months and a half. The edict expelling the " barbao
rians" had not, of course, been enforced by the Chinese autho.
rities ; it was a mere brutum fulnten. The dispute between
the teamen and the Hong merchants had been ended by
compromise between the parties. A scale of prices had beer
agreed to, the trade was generally open, and shipments hat
commenced, though much difficulty was likely to arise in th(
adjustment of qualities to the respective grades, while th(
inferior classes of congous were expected to rule at prices tot
high for investment for the English market. The arrivals 01
silk had been moderate, and prices kept up. The demand foot
articles of import was moderate. There was little inquiry foi
white cotton cloths, as prices were declining ; but for gra.)
goods there were sonic inquiries at former rates. Cotton yarn
was very dull of sale. The demand for camlets had been ver:
trifling, and it was difficult to effect sales. The inquiry foi
woollens was also trifling, and the sales had been few. Th,
opium market was in a state of complete stagnation. The ex.
change on London was steady at 4s. 11d. per Spanish dollar
Freights to England were 5/. ss. per ton.

._
SILVER WATCHES TWO GUINEAS EACH
An Assortment of Second-hand Watches, all of them warranted
and of various sizes, may be selected from, for the above price, a
T. COX SAVORY'S,
Working Silversmith, Goldsmith, and Watchmaker, 47, Cornhal

London.
N.B. A pamphlet, containing a detailed list of the prices c
Plate, Plated Goods, Watches, Clocks, &c., may be had gratis, 0
will be forwarded in answer to a post-paid application.
__.....