The Sun.
London, England, 1839-09-17 00:00:00

COURT CIRCULAR.

WINDSOR, MONDAY.--His Grace the Duke of Wel-
lington arrived at the Palace at fOur o'clock this after-
noon, on a visit to her Majesty. Soon after the arrival
of the Noble Duke the Queen rode out on horseback,
ccompanied by his Grace, their Majesties the King and
Queen of the Belgians, Viscount Melbourne, Lady F..
Cowper, Viscount Palmerston, and Sir Hamilton Sey-
mour, and attended by a numerous party of the
Royal suite, including the Hon. Miss Spring Rice,
Baroness Lehzen, Miss Quentin, the Earl of Fingal,
Colonel Wemyss, Hon. W. Cowper, Earl of Surrey,
Sir Robert Otway, and Sir George Quentin ; Lady-
Lytteltoo, Madame d'Hooghvorst, Lady Charlotte
Dundas, and Lady Harriet Clive followed the Royal
equestrian party into the Park in carriage and four.
The Belgian Minister and Maiame Van der Weyer
took their departure from the Castle this, morning for
town.

The following distinguished visitors are expected to
arrive this evening at the Castle :—Baron Werther,
the Prussian Charge d'Affaires ; Mons. de Kisseleff (of
the Russian Embassy) ; Earl of Minto, Viscount Tor-
rington, Sir Edward and Lady Cust, Sir Robert and
Lady Gardiner, and Mr. C. Howard.

The Chancellor of the Exchequer, accompanied by
Mr. Robert Steuart, M.P., and Mr. Rowland Hill,
visited the Post-office yesterday afternoon.
Sir John Hobhouse ho,s arrived in town, from his re-
sidence, Erlestoke Park, near Devizes, Wilts.
The Hon. Charles Howard feft town yesterday after-
noon, on a visit to her Majesty at Windsor Castle.
Lord Monteagle arrived at his residence in Downing-
street, yesterday, from Tonbridge Wells.
Despatches were sent off last evening from the Colo-
nial Office, for the several Governws of the West India
Colonies.

The Earl of Minto left his resides ce in the Admi-
ralty yesterday afternoon, on a visit to her Majesty at
Windsor Castle.

SPORTING INTELLIGENCE.

DONCASTER RACES.
DONCASTER, SUNDAY NIGHT.
Notwithstanding the heavy rains which fell yesterday, the
arrivals were numerous, and there was a tolerable muster, at
the betting-rooms in the evening. Speculation, however, was
flat, and would not be worth notice but for two or three
changes which took place in the St. Leger. Charles XII. was
backed at 6 tb 4, and was in high favour ; not so Bloomsbury,
about whom 7 to 2 was offered—there was an evident feeling
against him. Eucdd was at 10 to 1 ; Fitzambo, first at 25, and
afterwards 20, to 1 (taken) ; the Provost, at 20 to 1 ; Hettnan
Platoff, at 25 to 1 (takers), and Hyllus at 30 to 1. sto 1
was taken that Fitzroy wins the 2-yr old stakes on Thursday.
The weather this morning was equally unfavourable ; an im-
mense quantity of rain had fallen in the course of the night,
and the country in many parts was flooded. This will do seri.
ous injury to the farmers whose crops are not yet in. Between
Doncaster and Sheffield many fields of wheat, cut but not car-
ried, are almost afloat. Owing to the same cause the racecourse
is exceedingly heavy, especially at the lower part, near the
Red House.

Scott's horses have arrived this morning, in two lots. In the
first were—MajorYarburgh's bl f Lollypop. 3 yrs—Mr. Bowes's
ch f Mickleton Maid, 3 yrs--Colonel Anson's b f. Poissarde-
-3 yrs—Mr. Golden's ch c the Diver, 3 yrs—Lord Chesterfield's
br f Industry, 4 yrs—Lord Chesterfield's b f by Priam, out of
Rovoon's dam, 4 yrs—Lord Chesterfield's b c by Priam, out of
Mayflower, 3 yrs.
The second lot consisted of—Major Yarburgh's b c Charles
the Twelfth, 3 yrs--Lord Westminster's The Lord Mayor, 3 yrs
—Lord Westminster's Sleight of Hand, 3 yrs—Mr. Theobald's
Dragsman, 3 yrs--Mr. Bowes's Epidaurus, 5 yrs.
(All in the St. Leger. )
Lord Westminster's Cardinal Puff, 5 yrs—Mr. Bowes's
Epirus, 5 yrs—Lord Westminster's Launcelet, 2 yrs—Lord
Westminster's Maroon, 2 yrs—Mr. Bowes's Black Beck, 2 yrs
—Hetman Platoff is still at Pigburn.
Besides the above, the following horses are in the neigh-
bourhood :

TWO-YEAR OLDS.
Mr. Orde's b f Queen Bee—Mr. Blakelock's ch f by Cur-
tins, out of Fancy—Mr. Jaques's b f Interlude—Mr. Osbaldes-
ton's ch f by Belshazzar, dam by Whalebone—Lord Kelburn's
ch f by Retainer, out of Emilia—Lord Eglinton's br c Dr.
Caius—Duke of Cleveland's ch c by Langar out of Emigrant's
dam—Duke of Cleveland's br c by Emilius, out of Maria—Mr.
Bell's b I by Gainsborough, out of Golden Drop's dam—Mr.
Jaques's b c by Physician, out of St. Martin's dam—Mr. Par-
kin's br c Naworth—Mr. Howard's ch c Fitzroy.
THREE-YEAR OLDS.
Mr. Howard's b f Antigua—Mr. Osbaldeston's br f Alexan-
drina—Duke of Cleveland's b c Sampson—Duke of Cleveland's
b c Kremlin—Colonel Cradock's b c the Provost—Mr. W. R.
Ramsay's Easingwold—Colonel Crawford's b f Dolphin—Lord
Kelburn's b c by Jerry, out of Purity—Mr. NeWton's br c
Tag-rag—Lord Eglinton's Malvolio—Mr. Allen's br c Fitz-
ambo—Mr. Wormald's gr c Bolus—Mr. W. Ridsdale's b c
Bloomsbury—Mr. Thornhill's ch c Euclid—Lord Lichfield's
bl c The Corsair—Lord Lichfield's Sister to Hector—Mr.
Dixon's b c Hyllus—Mr. Hesseltine's b f The Shadow—Mr-
Dawson's bl c Abraham Cowley—Mr. Etty's br c The Quack
—Mr. S. King's Tivy—Mr. Smith's br f Memento—Mr. S.
Kings br f Juvenile.
FOUR-YEAR OLDS, &C.
Mr. Orde's b m Bee's Wing, 6 yrs—Mr. Milner's br e
Humphry, 4 yrs—Mr. Denman's b c Compensation, 4 Yr'i;
Lord Eglinton's ch f Opera, 4 yrs—Mr. W. R. RamsaY's •
c Lanercost—Duke of Cleveland's b c Alzira. HarkavraY Is
not here.

THE ST. LEGER.
The number of starters is variously guessed at 12, 13, and
15. The following is a list of those comprehended in the high-
est guess :—Charles Twelfth, Bloomsbury, Euclid, the Provost,
Fitzambo, Easingwold, Hyllus, the Corsair, Purity volt, Mal-
♦olio, Dragsman, the Dolphin, and Hetman Platoff.
We subjoin the odds at 12 o'clock to-night, at which time
the room was crowded :-
5 to 4 agst Charles the Twelfth
9 to 2 agst Bloomsbury
10 to 1 agst Euclid
25 to 1 agst The Provost.
25 to 1 agst Hetman Platoff
25 to 1 agst Malvolio—taken
25 to 1 agst Fitzarnbo—taken
25 to 1 agst Hyllus—taken
Even on Charles XII. agst the field
THE DERBY.
20 to 1 agst Launcelot—taken
25 to 1 agst Emigrant's dam—taken
30 to 1 agstMaroon—taken
30 to 1 agst Reindeer—taken.
35 to 1 agst brother to Euclid—taken
40 to 1 agst brother to Melbourne—taken
50 to 1 agst Fitzroy—taken

MORTALITY IN THE 76TH REGI
MENT AT DEMERARA.

(Fromour.e)ders the
It is
painful the
duty DubDub Dublin Evening Packet.)
oacukreir
a
following heart-rending account of the continued
mortality among the 76th Regiment at Demerara,
which has been extracted from a letter received by. the
relative of a surviving member of the corps, who resides
near this city. The letter alluded to covers a period of
six days, from the 15th to the 20th of July. It is in
the following words and figures :
" Demerara, July 15, 1839.
" iglu last letter went to you by the last mail, and
this will go by a privato vessel. Since I wrote
many fine fellows have breathed their last. Hopkins
died on the 29th of June, Dickenson on the 10th of
July, and Colonel Dansey on the 12th. The following
officers are very bad indred :—Captain Bruce, Lieute-
nant Tydd, Ensign Whitter, Doctors Birrill and Pres-
ton ; and the Misses and Mrs. Preston are also in fever.
There are only two officers of the regiment fit for duty.
They, you may well imagine, have plenty to do, there
being no colonel, no major, no captain, no paymaster,
quartermaster, sergeant, sergeant-major, or doctor.
There are not enough of men to inter the dead, and
black troops are employed for thaNpurpose. The Com-
mandant has been prevailed on to allow the remainder
of the regiment to he removed from its barracks. The
men will move to-morrow into town. There were fifty
men detached yesterday, and fifty more will move to-
morrow, to outposts, for change of air. There will
then be only fifty men at head-quarters.
" July 16.—Five men have died since I commenced
this letter, and many, 1 fear, will follow.
" July 20.—The vessel to convey this has been de-
tained, and I have opened it to tell you that poor Bruce
died last night, after five days' illness. He was a nephew
of General Cuppage, who lives at Coelock, near Dublin.
This yellow fever is a frightful disease. Poor Colonel
Dansey was but forty-eight hours ill. The command of
the regiment has devolved on Lieutenent and Adjutant
J. Gore Ferns, until the arrival of Captain Gardiner,
from Berbice. It is a rare occurrence that a Lieutenant
commands a regiment. The Court of Policy are pay-
ing for lodgings for men in the town.
Six o'Cleck.—l am just returned from burying poor
Bruce and five others. We hardly get cons made fast
enough."
n •

hmdrAi es will
b Ckvd Gane
CHARACTERt e abdnze
The barracks at Chatham are very full. There
are at present upwards of two thousand' recruits. The
gthreepiartuersentacpipsiflioureAt:ndid(t)ssefhira.:tshaGit:sent off to India to join
esibttaaeiyt
bayonets
startled
asßn
daCnod shockedUbißu AndGebrEy.
ba-TitsaCsleehsPol;mf and an excellent tale it would have been had it
happenedment toof
obneeonheaaocf thAeba .stathams, genuineshoprn sort.
•an to . Accortvdlr. Myers,
According to the
he was sleeping
away with all his might early on Wednes-
day
morning, when the rattling of glass in the pawnbroker's
shop dragged him from his downy pillow. Most courage-
ously he seized an old blunderbuss with a bayonet thereto
attached, and a pistol to boot, both guiltless of powder
and shot, and, rushing to the combat, drove two tremen-
dous looking fellows out of the front door, as Britons
always drive their enemies, at the point of the bayonet,
which said bayonet had ventured, at the lowest calcula-
tion, two inches into one of the intruder's sides. This
story, of course. was rather alarming—handbills were
issued offering a reward of fifty pounds to any one who
should brine- back the men so that constable and Magis-
trates might have a little conversation with them—there
was the bayonet with something on its point looking as
much like blood as it was possible for rust to do—and seve-
ral good dames in the neighbourhood decl-red they thought
something dreadful would happen after the display of the
nothern lichts last week. Alas I the horrible changed
into the lu.i:crees, and it turns out according to his admis-
town, wished to carry away with him a character for courage ;
sion, that. Mr. Abrahams, who was about to leave the
but he is likely to make rather a dear bargain, for though
nothing was missed from the shop, his master has packed
him off, with the intention •
of mulcting him for the broken
glass, the cost of posting bills, and all the et ceteras of the
amateur breaking in and breaking out; and we think
ftv 71,:•rrn.)re ho ougiit to be s'! :rg,-1 will, all t,„ pxt,
.ocks and irin-bars with !,.
;:3,;u..0,l to fortify the 'r bark
s:quence thereof.— Chelwford Chronicle.

MONEY MARKET and CITY NEWS,

the hands of merchants and traders both in this country

seee
(MONDAY EVENING.) and ou the Continent ; and although the aggregate
TIC
0
amount may be large, it must he so subdivided amongst
.i.
continued tendency
Funds have been heavy all clay, with holders that we should suppose they cannot he produc•
1 4 minued tendency to a decline in prices. Consols tive of any lasting embarrassment, although the an-
f cvere depressed to 90-k to 91 for money, and 911 for nouncement of their non-payment may create momentary
account. In.iia Stock was '249 ; Exchequer Bill:, 3s. inconvenience. Of the ultimate payment of these bills,
to ss. premium.
as they must be liquidated before the shareholders can
e'tfhe settlement of the account in the Foreign Mar- claim any portion of the capital, there would seem no
k , respecting which some uneasiness has latterly been reasonable doubt, and should they go back unpaid to
manifested, was effected much more satisfactorily than Philadelphia, the holder would be entitled to '2O per
ii might have been expected,. considering that the differ- cent. damages.
cences to be adjusted on the speculations in Spanish " The post-hills, which are notes signed by the officers
stocks alone amounted, taking the Active only, to more of the bank, and made payable at the agency of the bank
I than 10 per cent. The closing prices on the settle- in London, but without Mr. Jaudon's acceptance, must
Vent of the last account were 214 to 2l
e, and the last be classed with the above•mentioned acceptances, as
Pr ce of to-day for the Active, with the May Coupons, liabilities to be redeemed out of the property and capital
I Were 31i to 32 for account, and' for money 31i to 3]-1, of the institution before the shareholders can touch a
Si)teat the rate of continuation was only i per cent. dollar, and therefore their ultimate redemption may be
the
L
course of the settlement the variation was, how- placed beyond a doubt. These notes are chiefly held
ever much greater, owing to the severe pressure for by capitalists, to whom delay will be of no serious con-
Whilmoney,_, and the Active were offered a- 30e, for money, sequence, and a great portion of them have still a long
st the current price for account was 311, period to run before maturity, so that timely provision
eo'rig a difference. of ii. per cent. The difference on may still be made for their payment here.
:Isortuegeuese mad Spanish American securities have " The prospects of the shareholders are not so car-
; seettniteb r n
went
n considerable during the progress and 'up to the taro, and the value of the shares will be regulated by
Cent
the account. The Portuguese Five per what will occur on the other side of the Atlantic.
left of 'ie hich on the last settling-day were at 29 only, Should Mr. Jaudon be forced to stop payment, it must
2 f .
vr
41, so-day at 861 to 7 ; and the Three per Cents, be apprehended that with a large amount of dishonoured
0-41°i ; Colombian have advanced during the ac- claims returned for recovery to Philadelphia and for
rc:"..nt just terminated about 2lf per cent., the closing subsequent payment in Europe, and a termination of
ari
ces tieing 34+ to el ; Mexican left off at 29+ to s; the power of drawing on England and France, the
Brazilian remain 78 to I ; Dutch Two-and-Half per United States Bank will be driven to a suspension of
Cents., 541 to i ; the Five per Cents., 104 to i- ; Bel- specie payments. Such a suspension forfeits legally the
giau, 103 to i: ; Danish 7.5 to 6. charter. At the time of the last suspension, the reso-
rThe universal question in the city • has been, on lution to suspend was so general throughaus. the Union,
eading the accounts from France of the non-acceptance and considered so inevitable, that an universal sufferance
Y Messrs. Hottinguer and Co. of Bills to a large was sanctioned, and the forfeiture of the charter was not
atMount drawn by the Bank of the United States : is enforced. But in the present case it is not certain that
and
tantamount to an entire suspension of payments, the suspension of the bank at Philadelphia, although it
er_i. what are the consequences to which it must lead ? must carry a great many with it, will involve the
war t
we entertain very decided opinions of our own on stoppage of all the banks throughout the States, and
la': subject, will not be doubted after the various the whole question of banks and banking has now become
twoai fling's given, and the various articles written relative so completely the subject of party contention, that the
,m t, but being particularly desirous, on account of the continuance or the forfeiture of one charter will very
immense interests at stake in this matter, to convey the much depend upon the majority in the Legislature of
impressions upon it of the best commercial authorities Pennsylvania. Should the charter be continued future
connectedhefi with the United States rather than our own profits may compensate the shareholders for present
nally
losvin of rst instance, we have taken the trouble perso- losses ; should it, on the other hand, be forfeited, a
consulting several of them, and give the fol- liquidation must ensue, and though there may be ample
h g as the
.--
result • assets to protect the capital, yet those assets are of such
their
Some
draughts
corr
wealth
been of the United States Bank upon a nature that much time and discretion will be neces-
Co., bayeesPondents in Paris, Messrs. Hottinguer and sary for their advantageous realization. Yet the evi-
ability, w
bees_ earb,a, th, and honourable
The well-known respect- dent policy of the shareholders in this country would ,
honourable character of the Paris appear to be to wait events at present prices, and not,. ,
acceptanceuubei ill any surmise that the resolution to refuse as is often the case in similar circumstances, to same.
to
without due
the signature of the bank has been taken five their property under the influence of vague appre-
or ill.w•„ ue he
or been dictated by caprice hensions.
" Upon the whole, therefore, the event, to the possi-
it _ lit to that institution ; nor on the other hand is
Ban
proof that Messrs. Hottinguer and Co. entertain bility of which we allude, however much it would be
13°Y doubts as to the solvency of the United States deplored, would not seem necessarily to involve a com-
, coannek, or its ability to meet all its engagements. Their mercial crisis, or a great convulsion of property in this ,
t_ huct has probably been influenced a wish to adhere country..
° limits which the bank has either knowingly or in " With respect to future transactions between the
tenet exceeded, and by that Prudence and caution United
.States and this country, it is evident that a check
rtnnich every independent mercantile establishment feels to the vicious system of the United States Bank will be
th ecessary to exercise, unless it is prepared to allow a benefit to both countries, although it is to be desired
tore to conclude that its prosperity and existence that it could be applied in a gentler mode. Mr. Biddle
entirely dependent on the fate of a foreign institu- is known to have considered the resumption of specie
n, of which it is the correspondent. But it does not payments in the United States as premature. There is
pnreeessarily follow, because Messrs. Hottinguer have at nothing in past events to prove the truth of that opinion,
rerne7nt refused to accept the bills, that subsequent but they prove undoubtedly that the resumption was
ttances or advises from the United States may not accompanied by that curtailment of issues and en-
not induce
them hereafter to honour them,
least or at gagements which ought to have preceded and followed
to pay them at their maturity, which will not occur it. He extended the system of credit in every direc-
for
tee re days, or that some other parties may not inter- tion, as if determined that the resumption should not be
te r.e for the honour of the bank. Still less is it an in- permanent. The fault, therefore, is not that specie pay-
able consequence of the Paris transaction that the ments were resumed too early, but that banking facili-
ueseney in London of the United States' Bank• will be ties have been extended too widely and rashly.
able regularly to pay all the claims upon it, The " Trade will now resume its usual channels, prices
late remittance of 200,000 sovereigns proves the will be regulated by supply and demand, the merchant
anxiety of the bank to place in Mr. Jaudon's bands will be able to calculate, and the manufacturer will buy,
ample means to liquidate his engagements as they fall both with the security that no great monopolist can at
due, and the rapid and regular steam communication any time mar their operations, by forcing, either from
with America both enables him to inform his employers caprice or necessity, his overwhelming supply on the
of his wants as they occur, and facilitates their relief market. Any combination artificially to raise or depress
! speedy remittances. There may, therefore, exist prices is not only unwise, but must fail in its object.
be
difficulties in Paris, whilst all may Unless planters are disposed to act on the
m prince of
e.e smoothly and regularly in London ; but still it the Dutch, who destroyed a great portion ofipl their I
cannot be doubted that the fact now announced, that spices to enhance the value of the remainder, the know-
the signature of the President of the United States Bank ledge of the existence of large supplies on either side of
I._aB been dishonoured, is one which must be seriously in- the Atlantic, and that they must ultimately find their way
furious to the credit of that establishment, and the to themarket,is sufficient to warn the manufacturer never
PUb!ie will be led to inquire how it has happened that to buy beyond his pressing wants. We observe that our
a banking institution, which but a few years back transatlantic friends entertain the idea that the manu-
enjoyed an unrivalled reputation, whose operations both facturers combine to keep down the prices of the raw ma-
at home and abroad inspired unlimited confidence, terial. Let them be assured that the manufacturers will
Whose engagements were always met with the most be ready to pay any price for cotton if they can sell the
Punctual exactitude, apparently from its own resources, manufactured articles at correspondiree rates to secure
and not by a system of renewing debts and postponing a profit ; but when it is notorious that during a great
Payment, whose stock was 20 or 25 per cent. above its' portion of this year twist was selling at rates which left
present quotation, and which in 1836 was able to bor- a loss on the purchase of cotton, the Americans must
Ittliv through the firm in London which then conducted not accuse our Continental customers of combination,
Etsfatleney a sum of 1,000,0001. sterling in the course of and they will understand that the agreement amongst
tlrls? days, should in so short a time have placed its masters to work short time was in order to adopt an
all
,_°Pean account in such a position, that bY exceeding uniform conduct towards the operatives, and to place
oi jeeasonabie limits of credit, it should have forced its the poorer manufacturer on the same footing with the
'u and faithful agents and correspondents into their richest capitalist.
Present painful predicament. " Equally groundless is the idea that the Bank of
"To intelligent observers who have watched the one- England made war against the cotton prices. It raised
ration of the United States Bank for y
the last few years, (whether wisely or not) the rate, of discount rapidly and
thel, obvious
answer will naturally occur, that, departings; largely to protect its own coffers from the continued
from the legitimate province of banking, it has constr. drain of bullion ; that rise of course affected the prices
tuted itself a great trading and speculating corporation, of all articles which were not maintained by a scarcity
and that, entering upon a field of operations too vast of supplies ; but the Bank might as well be accused of
for its own capital, great even as that is, it has con- a desire to force prices up in December, when it in-
tinued to trade and speculate upon credit, until it finds creased its facilities and made money so abundant, as
itself encumbered with a large mass of stocks and Sc- of a wish by its conduct this year to force down cotton.
eurities of all kinds, and a large quantity of cotton, the " Another advantage will arise from a check to the
realization European money markets, but upon the advantageous has lately acted al a hotbed to foster every mushroom
"le of which it had implicitly relied to meet all scheme, and has advanced money on every loan, relying
on the European market to realize the securities.b By
'ft'B engagements abroad, and supply adequate funds
tut!' its banking operations at home. Forgetting such injudicious advances works have been teunbetoo
fi'li,t credit, however bright, and however power- rapidly, and on too large a scale, and loans have :n
issued against every principle of prudence and credit.
„' may be tarnished and worn away by constant and
to—tensire use, the United States Bank has relied on the The market has been consequently glutted with all sorts
anafie of its name to stamp with value every hit of paper, of American securities. Those unlimited issues will
borrow'h thought it an easy and a prosperous game to now cease. Loans will not be authorizsd without some
cotoe as much money in Europe at low rates as it regard to the demand. The • United States Bank can
in "‘"aeongregate, and to employ it in the United States no longer speculate in them.
'hellrect purchases of stocks, and of cotton, or in ad- " But we must not think that what was sound and
vane's upon such securities, from which it contemplated good will be made worthless by the difficulties of this
4.
rich harvest of high rates of interest, little thinking institution. The fall of a bank cannot prostrate a na-
tnat the time would come when the money might be de- tion—a few protested bills will not paralyze the
mended in Europe, whilst neither the stocks nor the energies of an active and industrious popula-
Cotton might be wanted, tion, nor sink the resources of a growing and favoured
"It is immaterial to consider whether the money was country. Schemes will be checked, prudence will
employed in purchases or in advances ; when its recovery be bought—other banks will be deterred from running
depends upon the sale of the commodities, the invest- the same course, if not by their own foresight, by the
intent is almost equally dangerous, and equally opposed caution of their customers ; but America will still sell
t,.0 sound banking principles. Mr. Biddle has shown to us and buy of us, both countries will continue to be
himself a man of great ability and great resource in mutually enriched, and England will continue to invest
asergenei„, but ha has evidently exaggerated his power ivith discrimination a portion of its surplus wealth and
rr well as mistaken his duty. He has supposed, perhaps annual savings in the securities of the United States,
plc patriotic'motives and national feelings, that he was because nowhere else can it, find a better guarantee for
,Piaeed in a position where he must by advances furnish safety than in the national character, the purposes for
"-Inds to the planters, agriculturists, and producers of the which the loans arc crea:ed, and in the gradual deve-
Frea.t staple of the United Statee, and at the same time lopment of the rssource; of that country."
furnish the means to states and companies for all their In the preceding summary of City opinions on one
_oplans of internal improvement. These advances natural(y of the most momentous questions ever agitated there,
c,_ av,eyed to him the control both of the cotton and the there arc some which we consider too guarded, and
__°ent as of states and corporations, and, whether willingly or others too free, an inference from the present state of
I, necessarily involved the bank in an attempt at a the affairs of the United States Bank. It will be
.monopoly of the produce and of the loans and money collected from them, .however, that the cautions
transactions of the United States. That such was his given from time to time under this head, respecting
. toe may be clearly seen by his declaration in a letter the management of that institution, fostered and
landi Adams, that he had sent Mr. Jaudon to Eng- esteemed in this country beyond all foreign banks that
fto protect the commerce and maintain the credit ever existed, have been but too well founded. Its im-
'l'l the States. The result, will, we fear, show that he provident support of other banks, whose connection has
aS unhinged the trade in cotton, lowered the prices of next to certain ruin ; its unprincipled intrigues for lay-
." American securities, and seriously damaged the in- ing the money-market of London under contribution ;
twe.r.ests of the bank itself. Whether- the bank can or an I, above all, its speculations in cotton, tending to
dill revert to sound principles must now be a matter of undermine the manufacturing interest of the whole
wnt.. It is evident that it has entered a path from kingdom, are here clearly exposed and made manifest.
o,leh it will require a considerable time to extricate it- It will be some consolation, for the word " triumph" is
8"; and it is probably that difficulty which has im- not to be used in connection with such a catastrophe,
Pse,lded the retransfer of the avency to the London firm that the warnings put forth have not been wholly disre-
wi ich formerly had charge of it, and which it was cur- yarded, and that number; have been induced by them
rently reported some time back was about to resume it. to withdraw their confidence from the United States
'4'te.trnay be surmised that that firm stipulated certain limi. Bank, at a time when its credit was nowhere else pub-
-lons of credit and facilities to which the bank is licly called in question. Those who have slighted them,
lairs,
or unwilling, in the existine state el its al- or imagined them to proceed from improper motives, will
immediately to concede ; for it must be now learn their error.
remembered
that whilst Mr. Jaudon, as a mere The advice to those who are holders of the stock
agent,
his employers,
e nt, had only to obey the orders of 'of the United States' Bank, not to sacrifice their
!ay independent mercantile or banking establishment property under a panic feeling that all is now lost,
Must look to the general effect of the operations of its seems to be rather surperfluous. They must, clearly,
Correspondents on its credit, its business, and its en- await the issue in quiet submission, as sales of the
gagements. The public seem rather to have lost sight stock to a large amount must be impracticable, al-
Of the guarantee secured, whilst the agency was vested most at any sacrifice. As the lesser of two evils,
','",' a well-known house engaged in general business, that therefore, they have only to hold on, and so far the
Lane debts of the United States Bank in England would advice offered is good. Mr. Biddle's resignation, the
be confined to certain limits,' and would not be motives for which can be no longer doubtful, is now
extended to an undefined amount. Had a second explained, and
perhaps it is unfortunate for the stock-
'''. Jaudon been established 'at Paris, there is holders that he has abandoned the helm in such an
tno doubt that there would have been no limit to his emergency. Hemay escape (though even that is now
e.ceDtances ; but it is equally certain that there would hardly to be looked for) the obloquy attendant on
u
i4ve been an increase of danger to all interested in the the existing difficulties of the Bank; but how the in-
nited States Bank. terests of all concerned are to be protected by a board.
m``Another question which it would be idle to at- of directors new to its duties, in the midst of such a
'Pts-to blink, because it must force itself upon the crisis, is utterly past comprehension. It is not meant
I'4 of every one concerned, is this :—Should the oc- to aver that his exertions could save them,
crnuerrence in Paris force the agent in London to stop pay- out them the case seems all but hopeless. If no
nt, what would he the result in this country and the great mercantile firm has ever sustained such a shock
but with-
united States? Our belief is that its immediate and as this to its credit, there is no reason why a bank, with
m_ vitable effect here would not be so disastrous as all the aid of its board of directors and large capital,
ight he on first consideration supposed. The liabili- should fare any better.
'l: of the United States Bank, in which the different every nerve to avert such aTchaelyarnirat calamity
;s t
but have
not
strained
having
acceptances
classes of society in this country are iuterested, are the succeeded. in doing so, there is but one safe conclusion,
t, of Mr. Jaudon, of bills drawn by the Bank, 1 which is, that their power and means had already been
We doubt very much the soundness of the opinion
his post-notes of the Bank payable at his office without tried to the utmost.
There is,
and the United States Bank shares.
haerc_usritiesdboauvlset doubtless, amount of running l • for which prevalent in the higher commercial circles, and above
loans
of confidence,
hYpothecated but as it may be quoted, as to the future establishment
umed that the lenders have taken sufficient care to should the event anticipated be actually realized, in
have their l adequately
icipated in that quarter in any
t_loans a
coveredevent,
no loss can be an- American Securities of any description, and the effect
to be anticipated from continued distrust upon the com-
t .
(11,1 Tile,l„.„l,t,;hee,
of mi., jatldon
rn,,..,,, !,e , J,,,,,ii, J ~, a eel intercourse het seeen !he two
le,...,(l,guirtsoliietsb
elsrotosot ra.,1!.5 a ra by the 11.-:Pk '
;`,', (I Ye
.sighl, and therefore •
' tureen this and the end of N in„.1,,,,,
~
~. , „-, . ~_ ,-, !!(-, contemplated without lee
giadually falling' due be- I anxious kind.
ovember. These will be in It has been currently stated in the City that some of
"liss......_____z •