The Sun.
London, England, 1839-12-31 00:00:00

LONDON, TU S DAY, DECEMBER 31, 18,59.

Mr. Thomas James, Sen.. Wrexham....
Thomas Boiler, Esq., Witham 1 0 0
Friends at Birmingham, per Mr. Sibree... 0 10 0
Hey. 1. Shoveller, Portsea ... 0 10 0
Miss L
Mr. Teulon, Toolev-street OlO 0
A Bundle •f Milton's Tracts "'How to Drive Hirelings from
the Church," for eistribittion in Chelmsford Gaol.

SECOND EDITION.
With above 40 Wood Engravings, price 4s.
HE STEAM-ENGINE;
Being a Popular Description of the Construction and
Action of that Engine: with a Sketch of its History, and of
the Laws of Heat and Pneumatics,
By HUGO REID,
Lecturer on Chemistry, and Teacher of the Philosophical De-
partment in the High SchOol of Glasgow.
William Tait, Edinburgh ; Simpkin, Marshall, and Co.,
London ; and John Cumming, Dublin.

Just published, price 11. 12s. boards, in Royal Quttrto, Volume
the First, with the Tide illuminated in the style of the An-
cient Missals, and illustrated with Twelve beautiful Engra-
vings by the celebrated German painter Octave Hauser,
Dedicated to the Omen.
FIIHE HISTORY OF ST. ELIZABETH
_IL OF HUNGARY, Duchess of Thuringia (1207-1231).
By the COUNT DE MONTALEMBERT, Peer of France,
translated by AAIBROSE LISLE
,PHILLIPPS, Esq., of
Grace Dieu Manor, Leicestershire.
N.B. Copies without the Twelve Plates by Hauser, but with
the Illuminated Title, price 1/. Is. boards.
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DROPSY, AND DISEASES OF FEMALES !
Just published, price 35.,
DRACTICAL OBSERVATIONS on the
NATURE and SYMPTOMS of DROPSY in all its
Forms ; in which a new and more correct Plan of Treatment
is prop•sed and explained, with several cases illustrative of its
success.

By RICHARD BRIGHT, M.D., M.R.C.S.,
No. 25, Ely-place, Holborn.
Also, by the same Author, price 6d., and in cloth, Is., the
Sixth Edition, of
EVERY WOMAN'S BOOR; or Female's Physician:
valuable Dornestii, Medical Guide, or Treatise on th., niAcases
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NEW WORKS FOR 1540.
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Dedicated by Especial Command toh^r Majesty.
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The First Volume of

THE LIFE of FIELD MARSHAL HIS
GRACE the DUKE of WELLINGTON, K.G.
G.C.B. G.C.H., &c.
By W. H. MAXWELL,

Author of " Storie; of Waterloo," " The Bivouac," " Vic-
tories of the British Army," &e.
Containing Portraits of the most distinguished Generals, and
Representations of some of the most important Battles, toge-
ther with numerous Plans of Battles, several Maps, and a great
number of Wood Engravings, illustrative of European and
Eastern Warfare.

" Thousands will rejoice at the appeararce of this work, for
it promises to furnish a worthy record of the greatest wan of
the age."—Morning Post.
When completed, this work will be the ost valuable of
its kind."—Britannia.

" Mr. Maxwell's Life of the Duke of Wellington' is by far
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" Mr. Maxwell's Life,' in the judgment of military men
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II •

In foolscap Bvo. price 3s. 6d. Embellished by Sixteen beau-
tiful Engravings on Steel,
THE NAVAL AND MILITARY ALMANACK
FOR 1810.
Edited by W. 11: MAXWELL, &c. &c.

Containing, besides a Calendar and the ordinary Almanack
Information, Tables of Reference on matters of special interest
to the UNITED SERVICES ; and interspersed with Bio-
graphies and Anecdotes of England's great Naval and Military
Heroes.

Amongst the Illustrations to the Volume are a Vignette
PORTRAIT of NELSON; a representation of his Ship,
the Victory; a List of the Signals used by him at the
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bothbefore and after the accident which deprived him of his
right arm ; and a beautiful Steel Engraving of the NELSON
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_
111.
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THE SPORTING SHEET ALAIANACK
FOR 1840 ;

Containing, besides the usual Calendar, a great variety of use.
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. _
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C.)lours; leading the Pupil progressively from the first rudi-
ments to the completion of Works of Art in their finished
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By G. F. PHILLIPS,
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With Twenty Plates, Fac-Similes• of the Original Drawings
-4,lbade expressly for this Work bye tfio Author. ,
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W OMAN,
PHYSIOEOGICALLY CONSIDERED,.
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lity, and Divorce.
By ALEXANDER WALKER.
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Sept 18, 1839.
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.awakening any
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PUBLICATIONS.

PAUL PERIWINKLE ; or, Tim PrIESS-GANG.
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lkhed with Two fine spirited Etching! by Phiz, Price One
Shilling, the new Number of
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WINKLE; or. THE PRESS-GANG. This popt:
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completed in Twenty Numbers.
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sold by all I3ooksellers ; also lent to read at all Circulating Li-
braries in Town and Country.

DE FOE'S NOVELS AND MISCELLANEOUS
WORKS.
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Life of Captain Singleton, price ss. bound in cloth,
TIIE NOVELS and MISCELLANEOUS
• WORKS of DANIEL DE FOE.

--- -
The Work is printed by Mr Talboys, of Oxford. The, en-
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contain The Fortunes and Misfortlvus ifMoll Flanders.
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may be procured, by order, of all othettooksellers.

BL ACKW 00D'S EDINBURGH MA-;
GAZINE, No. CCXCI.,
For JAN UA RY. -
CONTENTS
I. The Goblin La(lv. a Comedy, 11 1)012 PA*. Calderon
de la Barca.—ll. Sir Walter Scott at t e'l*ing? of tht,,,Stualle
in St. Peter's.—lll. Elysian Fields atL. Westniore-
land.—l V. Breton Failh.—V, goetb ,E 4 and, -;NPrI4-
No. lII.—VI. A Rtssage Autobictt In tofu to
Thoughts upon Asses. 2' 1.117
History ; hr,. a Glance at .th 6 Dart A ,-',..-!-,Pare , „*`
Ilyrons of
_.a Hermit. Aitelvieus.—tre:.;•":ll4l4. 111.114
1k".114444"61,6°,‘- X I.- -li7alto
Essenei.—Xlll. Ten Thousand a-Year. Part IV.

William Blackwood and Sons, Edinburgh ; and T. Cadell,
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Just published, price 9s. 6d. ,
THE POST-OFFICE LONDON DIREC-
TORY FOR 1840, •
Containing a General Alphabetical Directory ; Law Direc-
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These various.divisions have been compiled from information
collected to a period infinitely more recent than has been at-
tempted in any similar publication, and much therefore is now
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1841. Among the various matters exclusively in this Direc-
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to every part of the world.
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to the Banker's desk, the Merchant's counting-house, the So-
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Simpkin, Marshall, and Co., and all Booksellers.

WIT, FUN, AND HUMOUR FOR THE NEW YEAR.
" CRUICKSHANK AT HOME,"
CRUICKSHANK'S " OFFERING of MIRTH,"
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Hundred and Thirty of the funniest Engravings, by this in-
imitable Artist, and enriched by Contributions from the most
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and now offered at only Three Shillings.
The Four Hundred Cuts to Hood's Comic Annual, ten
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Three Hundred and Twenty Picturesque Views in Great
Britain, handsomely bound, only Four Shillings, one-quarter
its published price.
London : Edward Lacey, 76. St. Paul's Church-Iprd,

THE SOUTH AUSTRALIAN RECORD
of JANUARY Ist will contain particulars of Lord John
Russell's New Land Commission—Statistics of the Colony—.
Number of Houses—Shcep--Cattle—}lorses—Population, &c.
Latest news from Port Phillip—Western Australia—New
South Wales—Shipping Tntelligence of all the Colonies in
Australasia—Prices of Provisions, &c.—Price, Fivepence,
stamped.
rAidi,itiv go. (intft-ti1,.0, A(deiphi, and .014 by all
news agents.

SHIPPING INTELLIGENCE.

LLOYD'S.

SHIELDS, DEC. 28.—Sailed the Fourteen, Armstrong,
for the Cape of Good Hope.
WATERFORD, DEC. 26.—Sailed the Isaac and Eliza-
beth, Minden, for Newfoundland. The John Cullam, M‘ Vi-
ear, from Poole to Liverpool, has been towed into the har-
bour from the Salters., dismasted.
YouottAL. DEC. 25.—Arrived the Jaina, Woods, from
St John'r, New Brunswick.
CORK, DEC. 26.—Arrived the Hector, Crisp, from
Smyrna. Sailed the Amazon, • Bellord, for St. John's
New Brunswick ; New City of York, Johnson, Barbadoes.
ABERDEEN, DEC. 26.—Arrived the Robert M' William,
Edwards, from Quebec : Amity, Dempster, Dalhousie.
Hum., DEC. 29.—The Cane Grove, from Stockton to
London, has put in here with stern stove, having been run
into by a collier, on the 25th inst., off the Deeps.
LONDONDERRY, DEc. 26.—The Superior, Lindall, from
Riga to Newry, struck on a bank on entering the Lough
on the 20th inst., and is coming up to discharge, cargo
being damaged.
KINGSTOWN, DEc. 27.—The Blanche, Smith, from Dub-
lin to Southampton, has been run on the beach, being in a
sinking state, and is discharging.

VESSELS SPOKEN WITIL —The Foxhound, from Yar.
mouth to Venice, 21st inst., lat. 50, long. 6, by the Jane,
Stratford, arrived in the River ; Elbe, Beazley, Alexan-
dria to Liverpool, 19th ult., off Malta; Arkwright, Dane-
trail, Liverpool to Sidney, New South Wales, 16th ult.,
lat. 4 N., long►. 29 W. ; Royal Mine, Seawright, Liverpool
to Jamaica, 29th ult., lat. 21, long. 30; Paquetbot des
Mers du Sud, Bordeaux to Valparaiso, 25th Oct., lat. 10
N., long 35 W.

The following was yesterday morning posted at Lloyd's :
Extract of a letter from the Agent at Constantinople,
dated 9th December:—

The Protector, which was ashore at Tenedos, is arrived,
and I have had arrangements made for having her hove
down.

We have had some severe gales, and several foreign
vessels have been wrecked in the Black Sea, but no Eng-
lish ships are spoken of.
It is generally reported that the Monarch (steamer) has
been wrecked with 200 passengers on board, and bound
for Treb:zond;; the agents to the vessel being in holidays
I have not been able to ascertain the fact in that quarter,
but am happy to find, that the Turkish authorities have rlO
advice of the loss, which I think conclusive of the untruth
of the report. _ _

To WM. Dobson, Esq., Secretary at Lloyd's.

THE STRANGERS' FRIEND SOCIETY.—An
excellently timed and warmly-persuasive Sermon was
preached for this Society on Christmas Day evening, at
the Chapel in Gray's Inn-lane, by the Rev. T. Mor-
timer, 8.D., after which a collection was made amoun.
ting to 411. 10s. This really " Samaritan" Society—
a very minister of good at all seasons, but winter
especially—seeks out the most pitiful cases of human
misery, with no distinction of creed or nation. The
funds are, however, wholly inadequate to the increase
of distressing cases and their full relief, whilst patro-
nage could not be better bestowed. The number of
cases relieved in the past year was 7,000 ; income not
quite 3,0001.

A paragraph having appeared in some of the
newspapers regarding the will of the late Miss Innes, of
Stow, we arc authorised to state that the fortune left by
her is very greatly exaggerated, and that no person has
any right to any part of her fortune, except her legal
heir and executor.
Patronised .by their Majesties the, King and
Queen of Hanover, and their Royal Highnesses the
Princesses Augusta and Sophia, her Serene Highness
the Princess Esterhazy, the Princesses Mary and: Rosa,
her Grace the Dowager-Duchess of Bedford, and their
Graces the Dukes of Devonshire and Manchester. In
addition to the above distinguished patronace to the
newly-invented Spectacle Lenses and Invisible Opera-
tive Voice Conductor, the Messrs. S. and B. Solumons,
opticians and aurists, 39, Albemarle street, Piccadilly,
and 96, Cheapside, feel great pleasure to statethat
their valuable inventions have also gained the sanction
and unqualified approbation of above four hundred of
the principal members of the medical profession ; as also
of numerous individuals of high distinction, who have
been greatly benefited by their use. Immediately these
improved Spectacle Lenses arc placed before extreme
imperfect vision, it is at once brought back to its natural
and original state, every object becomes clear and dis-
tinct, and the most minute particle is seen, either by
clay or candlelight, with ease and distinctness. Their
Voice Conductor, by which thousands of deaf persons
have been greatly benefited, are not the least per-
ceptible, nor more uncomfortable, than having a piece
of wool in its place, and the faintest whisper at a public
assembly is heard with exact distinctness.-39, Albe-
marle-strect, and 96, Cheapside. No travellers nor
agents are employed. .

Dr. Hastings has obtained the answer of her
Majesty's Attorney-General to the case submitted to
him, and that Learned Gentleman is of opinion that it is
only Town Councillors, and not Aldermen, who are
'liable to be fined for refusing to Serve the office of Mayor.
The Doctor will, in consequence, have the 501. returned.
—Worcester Journal.

MANCHESTER MANIFESTO
AGAINST THE BANK OF ENGLAND.

December 12, 1839.
Report of the Directors of the Chamber of Commerce
and Manufactures of Manchester, on the Effects of
the, Administration of the Bank of England upon
the Commercial and Manufacturing Interests of the
Country. • The Board think it, expedient, before proceeiling to a
consideration of effects of the recent policy of the
Bank of England upon the manufacturing and trading
interests, of the country, to take it brief review of the
events which;preeeded and hav'e.i.ceomPanie,l the present
commercial reverses. ,
Wand
manufactures the end of 1835, ell branches of trade 'and
manufactures were in a state bf..pro•perity. which they
had continued, almost; without interruption, to enjoy for
ieveral years. In the. course of that year, the Bank 01
England, by throwing a large amount of money, hela for
thie.Eastlndia.Cornpany, and ads need on 'account 61
tire Vest India Loan, into the niarket at a very'l6w:
rate of ipterest, aqd hy the facilities thereby affol-ded'
to tine London bill brokeis and others, for diserMting:
enormous sums of American acceptance's, and bills re:
issued by the Joint. stock Banks, laid the foundaftenToF
that excessive stinullus to trade and speculationivhicli'.
- prevailed in the succeeding year. ,
Early in 1836, the. mania for speculation in Shares,
and the formation .of innutherable JointStoek gssncial
tions gave warning to all those who had a reenreetiori-
of 1825,that the trading world was hastening towards„
' sieges pierlilar„; 449,4 f/ it). iose of, tbat .. atia,rhart',
.1110 market rate, of, interest .in tbe prey Pi'r hit;
• ' .
4.goriow"Atcg per cgnL and even LC Itikki
,ak.
aneoi owe'r i but 'ln ILllY.l.B36f't he tan i n ere asel.
its rate from 4 to 43- per cent. This advance in the
value of money occurred too late. The fever of
speculation had been infused into the system of
the entire commercial world, and its effects were
manifesting themselves with peculiar violence in
America, when President Jackson, by the issuing
of his famous specie circular, calling on the pur-
chasers of the public lands for payment in gold or
,ilver, at length arrested the progress of the speculators.
The news of this proceeding, on the part of the
American Executive, arriving here simultaneously with
a demand for specie for the United States, the Bank
Directors now gave notice to certain large Ame-
rican houses, that their acceptances would no longer
be discounted as heretofore. Advice to this effect
seas transmitted by these houses to their connec-
tions abroad ; and a copy of one of the letters
having found its way into the newspapers, was made
public in Europe by the return of the next packet.' The
Bank of England advanced the rate of interest to five
per cent. in August, and about the same time rejected
all bills drawn or endorsed by joint-stock banks of issue ;
and also refused bills drawn upon the Anglo-American
houses. The embarrassments of the Agricultural and
Commercial Bank of Ireland, and of the Northern and
Central Bank of England, were publicly announced in
the November following, which, coupled with the ru-
moured difficulties of the great American firms, led to a
general discredit both in this cbuntryo and throughout
the li holo commercial world.

Towards the close of 1836, the stock of bullion in
the bank had fallen to little more than four millions ;
whilst, at the same time, it was indebted to the world
upwards of thirty millions for its circulation and depo-
sits. The Directors now determined to check the drain
upon their coffers, and to increase their stock of bullion
on hand. It has been stated, upon the authority of the
Bank Directory, in a memorandum presented to the
Committee of the House of Commons in 1832, that " a
supply of gold can be procured from abroad only by
reduced prices of commodities ;" in other words, at
the expence of the manufacturing and mercantile
interests ; and the object in advancing the rate of inte-
rest, in two months, from four to five per cent., to which
we have alluded, was undoubtedly with the view to
depreciate the value of commodities 25 per cent.
This step, on the part of the Bank Directors. " caused,"
to quote the language of Mr. Ilorsley Palmer, in his'
pamphlet, " a moral apprehension in all prudent minds
that there was mischief abroad, and created an effect
far more powerful than the actual advance in the
value of money." In other words, it caused a panic.
The trading community, upon whom the slightest re•
strictive movement on the part of the Bank of England
operates with electrical effect, seized with alarm, were
now eager to sell off their stocks, to save themselves,
as far as possible, from the effects of the impending
full of prices. Thus the aject of the Bank was at-
tained. In the spring and summer of 1837, the prices
of alj commodities, towards which speculation had at
all been attracted, fell to the lowest point to which they
had been known to recede for a great number of years.
Similar consequences were immediately felt through-
out the whole commercial world. Our merchants ir-
stantly transmitted orders to their agents abroad to
dispose of their stocks, and, in lieu of the shipment of
produce to a falling market, to remit the amount in
specie or billqof exchange. As very few bills upon
England could be purchased at places from which
shipments to this country had partially or wholly ceased,
their price, or the rate of exchange, consequently rose
until it exceeded the cost of freight, interest, arid
insurance upon the transport of rpecie to England ;
and in this way was realised the object of the
Bank Directors, for we find that, in 1837, unusual
quantities of bullion were imported from almost every
quarter of the globe. The losses thus incurred by
British merchants, upon their outstanding capitals, were
in many cases ruinous. In some instances, where trading
with distant markets, large engagements had been en-
tered into by their agents, before the news of the
revulsion reached them. In China, purchases of tea
and silk were made, after the prices of those articles had
fallen in this market 30, 40, or 50 per cent., and before
the disastrous intelligence reached that remote quarter
of the globe.
Throughout the year 1837, the Bank of England
continued, at the cost of these heavy sacrifices to our
merchants, to augment the amount of its bullion, as tile
following official returns of the stock of specie in its
vaults will show :-
1837 June £4,750,000
December • 8,172,000
183$ January
Whilst the stock of bullion still fell short of a third of
the liabilities, a proportion which the Directors them-
selves in their memorandum embodying the principles
upon which the Charter was renewed, presented to the
Committee of the House of Commons, in 1832, do.
Glared ought always to be preserved, they, in direct sio-
lence of their own principles, embarked in the mercantile
speculation of exporting large amounts of bullion to
America. Simultaneously with this extraordininary end
unprecedented step the Bank offered loans on deposit of
securities at three and a half per cent. (March 1, 18:38) ;
and, from this time. may be dated another short career
of depreciation, during which credit was cheap, money
abundant, and, as a natural consequence, prices of corn•
moieties agar a rose.*
The Board have now to refer to certain circumstances.
growing naturally out of this state of things, which more
particularly affect the interests of the cotton trade. Toe
Bank of the United States, with other large American
chartered banking companies, taking advantage of the
embarrassments of the great Anglo-American houses,
had become the channels for shipping the cotton
crop of 1837-8. In this way, Mr. Biddle stated, in his
latter to Mr. Adams, "he gave facilities for shipping
from fifteen to twenty millions of dollars of cotton, and
placed his own confidential agent in Liverpool." The
expectation of a short crop of cotton, in 1838-9, occur-
ring simultaneously with the efforts making by the Bank
of England to expand the currency, tempted the Bank
of the United States and other American Banks to
lend their credit in aid of certain speculations in cotton
wool : a scheme that has succeeded to such an extent as
to inflict upon the spinners and manufacturers of the
country an unprecedented amount of loss and suffering.
It is important to remark that the funds for carrying on
this gigantic scheme of monopoly were furnished, princi-
pally, from Great Britain. From no other source, indeed,
could the necessary a:nount have been supplied. he
low rate of interest which, in consequence of the ex-
pansive policy of the Bank of England, prevailed during
s An artificial expansion of the currency is scarcely less
injurious than its contraction to the menfacturer and spin-
ner, who, far from desiring a rise of prices, are interested
in a cheap, and, above all, a uniform supply of the raw
material upon which their capital and skill are employed.
The cheaper the rate at which their commodities can be
afforded, the larger will be their consumption, and the
greater must be the demand for the profitable labour of
their artizans. Any artificial enhancement of prices, by
attracting to the raw material a class of monied speculators,
whose capital may be transferred at will from one invest-
ment to another, places in a most disadvantageous
position the manufacturer or spinner, three fourths of
whose capital is sunk in the erection of mills and ma-
nufactories, the dwellings of workpeople, or the con-
struction of machinery, all of which arc rendered un•
productive and valueless the moment that a regular
supply of the raw material is cut off, or that its excessive
cost puts an end to the sale of the manufactured articles.
Hence, whilst the monied capitalist, taking advantage of
the rise in prices consequent upon the depreciation of the
currency by the Bank of England in 1838, could sell off
his cottons, silks, the manufacturing capitalist, neces-
sarily at all times a purchaser, but never a seller of the raw
material, was incurring heavy losses, owing to the artificial
enhancement of price having prevented him from disposing
of his productions at a profit. Such are the exigencies of
the manufacturer's position, that he has been compelled to
enrich the monied speculators, by continuing to consume
the raw material at a loss, the heavy sacrifices which he
has thus incurred being preferable to the ruin which mu at
result to himself and his dependants from the total cessation
of production.