The Sun.
London, England, 1837-04-01 00:00:00

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MONEY MARKET.

An arrangement which Las been befo.re hinted at be-
tween the Bank of England and the Bank of the United
States, for establishing a large credit in favour of the latter,
for the purpose of drawing bills on England to represent
payments made in the United States on English account, is
flow said to be on the point of being carried into dr tit.
The operation is of a somewhat complex nature, but fti
effect of it will be that of making the United States Anti
indebted to the Bank of EnAind, instead of the 1)(1;09
whose bills have been taken, anti to whom tnivaneea itt:ve
been made. All that will be accomplished by it is the of.
fording to those American merehants who are prepared ft*
fulfil their engagements with this century a medium of ply.
meat to which no exception can be raised on either side of
the water, and which will rid the eirculat:on of paper of a
donbtful description. For the present the arrangement
dot.s not faCilitate any traistnis!•ion of bullion, but rather
prevents it ; but it has become a ;nest important object, la
a commercial point of view, not to force ti:o Ami:rirans ta -
send 'gold. When the trading thrtieuhics arc a little nd
juSted, that end is likely to ha no,eornplisbed in a more
steady and secure manner.
The failure of Messrs. Pry and Lightfoot, the lanl,intl brokers, was made known this morning-, a.;?
surprise, mesh
torftsh a%titor.lni;
surprise, as tiny were known to have excell business,
and were not believed to be ee t
erm's speculations of the tiny.
an
which could have eam;:ron.ised them ware thase rbrei4a
exchanges, in winch they dealt largely as drawers and takers
ot. h.lls, but the cause of failure has vet yet been explained
even to their most intimate connexons. Their business in
indlion was always conducted with much intelligence rind re-
gularity, tt Midi give there a high character -in that li;nee----
Besides ilis failure, a large one at Liverpoll, that of Bent-
ley and Co., has beau arinotinced.—Tailes.
was unusually crowded 3esterda:s; and the
grca,,,ed. excitement -prevailed, but little licsiness MIR
trnsacted. The rates of exchange remain almost exactly
the same as 14st..poSt day. The rate on Paris, three
days' sight; was 25 55 to !).5 60 ; ditto, three months'
date, 25 85 to E? 5 90 ; Arn,teidam, 12 2 ; ditto, --
.I:vrße:nranthi'-44tr.,,.1.2 .5:441-linitourol, 13 12!! : Madrid,
35t ridfi; 30, ; Lisbon, ; and Rio de Ja-
nem, 29. ''fine commercial letters from different parts of
France do not show much amelioration in the state of
things there, but from the silk and cotton manufacturing
districts they are, on the control.), very desponding. At
Lyons, it appears there are no loss than thirty thousand
men out of employ, and at St.. Etienne, Nisnies, Avignon,
&r., all !laves -where silk is made to a great extent, enu-
siderahle numbers of persons are also thrown out of work.
From Havre and Bordeaux, asFere cotton is extenively
dealt in, nnitters -bear a similar appearance.' At the (Omer
plave, the iniortation of cotton 'between December Ist,
1836, and the Idtb instant, was 111,106 halos, while be-
tween the same d:ites le'3s-2, it was 118,833 bales, being
decrease 7,780 bales ; 11:e smelt on hand has
increased to the. extent • or-1;2,868 bales, tlie ottantity
on hand on the ltith of m,,h, 1836, being 21,725, aid
on the 16th instant, 8-1,5f-From -this it would ap-
pear that the ennsamption: tint equal to the supply,
but it is w ell 'knwn o ‘thrtitdemandi
,-. tite
fOrinternal
•
pmprises has increased, tio, thji iA Only inference which
can be drawn is,fliat exporii litre been made, heretofore,
of this commodity, and- tliet, probably a great portion of
the supply of 1835-33 bitA been thrown into the con-
sumption of 1836-37. When. the dmland for cotton was
at its height at Liverpool, ,&!;;Iny shipments were- -
for Havre, and probably the same course •has been
adopted'.with other places, for it appears that the sales of
this commodity between the saint' dates 1835-36, ex-
ceeded those of 1836-37 by 57-,491 bales, the quantity soldl
in the former period being 117,809 bales, and in the lat'eer
60,31.5. Deeemhcr 1836, the sitnnher of bales received
at .11avre was 13,892 ; iaJanuary;lB3l3, it was 58,U6 ; in
February, 20,496 ; and fronithe Ist to the 16th, of 111s,en,
1K76; it Wimt.41,972 ; making the tntal 'above quoted. In
December, 1836, the amount was 9.0,685 in January,
it- wits 48,026 ; iii February 34,146 ; and-from the,
lit to the 16th inst., Tile acotton in De-
cember, 1835, amonnted to itl,2 ;in January, 1836, to
;in February, -43523 ; anti front the I.it t(1 the
16th of March, 1806, they were 3..1;05:.1 bales. In Deeeni.
her, 1836, tine,' amounted te-only 7.030 ; in January, .1737,
to 04;886 in February, to '2O ;:3.50 ;' and from the Ist to
the 16th inst., to 7,149. It is stated that 3,500,000/
spinning wheels produce annually in France, 34,000,00t0
kilogrammes of spun cotton out of 250,000 bales, or
:37,500,000 kilogrammes of raw cotton. 'By an
,analysis
of the report-of M. de Brenekere, Governor of the Sank of
Belgium, it appears that the disposable capital ofthat
tab!ishment amounted in 1836 to 13,33.000 frvanc:,i, and
upon ;which a profit Was"made of 1,443,473 francs, being
.72 francs 17 cents per share, or 101- per cent., The prot
has been- thus disposed of:--5 per cent., or 33 fratr:s 33
cents per share for the payment of the interest ; ‘2-3,1s per
cent., 41. 16c., for the sinQiig fund ; 4-sth per cent.,
sf. 50e.. for general oxpoiises ; 1-6th per cent., lf. 14e. for
the administratioe, and 4 I-sth per cent., 28f. 'for a
dividend. In other words, the shareholders have to re-
ceive 9 1-sth per cent., whil..! 2-3ds per cent, is held
back for a reserve fund. The balance-sheet on the 31st
of December, 1836, showed that the amount in hand was
7,143,781 E 24e., and the debts to the Bank in current ac-
counts 4,476,231. The different securities and effects
deposited at the Bank in 1836 amounted to 49,951,917
francs, The establishment during-the same period received
92,126,728 E 77c. in accounts current, and paid 87,314,6371.
08 eentimes.—Morning Chronicle.

The New Edition of Mr. Buike's Peerage and Ba-
ronetage will ha found to be one of the most comprehensive
works.upon the subject that has ever issued front the Press.
In fact, it embraces the whole spirit of every preceding autho-
rity—of Dugdale, Collins, and Douglas—and forms one com-
plete history of the whole titled Aristocracy of his Msjestv's
dominions, with their wide-spreading connections, from the
earliest records in the public archives, generation after gene-
ration. The following brief analysis of the Contents will,
however, at once show the extraordinary accumulation of ma-
terials of which this splendid work is composed :—All the
Peers and Baronets of the Empire historically detailed from
the earliest records—Peerages Claimed, and now before the
House of Lords—Garter's Official Roll—All the Orders of
Knighthood, with those invested with Equestrian Rank. The
course of this book demonstrates how very certainly success
follows utility ; for the very large Edition (the Fifth) which
has been scarcely a month published, is already, we under-
stand, nearly all sold. •
We understand that an order has been sent to the
Post-office here to receive no payment in notes, but all in
specie. This new regulation, it seems, has been issued in
consequence of the losses occasionally sustained by the isstab-
lishment from the insolvency of banks in England. Admitting
that it may be called for by the insecure state of the English
provincial banks of issue, it is rather hard that it should be
mended to Scotland, a here the Government, we believe, has
never lost a shilling lay taking paper money. The case some-
chat resembles that cited by Sir Walter Scott during the cur-
rency discussions of 1826. The bailiff of a M'Nab or a
M'Lean, or some other Highland chief, having caught a de-
linquent, and, according to law, put him in the stocks at one
si.le of the laird's gate, laid hold of an innocent man, and made
his legs fast at the other, for the sake of uniformity ! The
passion of the bailiff for having every hing about the laird's
residence symmetrically disposed, was no doubt very consistent
nith the notions of order and justice entertained in those
hues; hut at present men are rather averse to being punished
for the offences of their neighbours, however much it may
conduce to national uniformity ! Besides the Postmaster-
Ocueral seems not to be aware, that to demand specie from
u.; is. to use a vulgar simile, taking the brooks from a High-
lander. Silver we have for change in reasonable quantity,
but gold is never seen among us. How then is the letter-
carrier to comport himself? If silter is wanting, and notes
are offered, is lie to refuse them, and carry back the foyers to
the Post-office ?—Scotsman.
HO MAN LIFE, BY THE AUTHOR OF " TRE-
MAINE."—This new productien of the talented author of
" Tremaine" and " De Were," though possessing many of
the attractions of fiction, must not be classed with works of an
ephemeral nature. The philosophical tone breathed through-
out places it far above them. It is, indeed, a book on human
life and manners to be placed in the library for frequent peru-
sal by the side of Addison, Johnson, and others of England's
worthies, whose productions still charm and enliven our leisure
hours. It is characterised by the keenest observation, and the
most intimate knowledge of society in its ever varying aspect-4.
The author probes deeply into the recesses of the human heart,
and throws a dignity around his subject peculiarly his own. We
know of no work so well adapted to be placed in the hands of
young men of the present day.
We have much pleasure in having to announce that
his Majesty has been pleased to present 1001. in aid of tha
rands for relict of the present destitution in the Highlands and
Islands. The liberal donation has accordingly been handed
by Sir 11. Wheatley, Keeper of the Privy Purse, to John
Bowie, Esq., secretary to the committee in Edinburgh.
By the death of poor Nicholson (one of those sons
of genius who have been most unkind friends to themselves)
the vacancy of leading flute player became vacant in the phil-
harmonic band. The directors of that society have selected,
as his stuscessor, Mr. Ribas, a professor, long esteemed
la our metropolis, and whose sound musical acquirements, com-
bined with a very masterly style of execution, render him well
worthy of the honour, which thus places hint at the head of
British performers on the flute,
The Newbold Inclosure received the Royal►
assent on Wednesdav sermirglit. The race-course, stands, and
a portion of ground to be set out for the erection of booths
and for the accommodation of the public at the races, are
requirsd, by the Aet, to be allotted to his Grace the Duke
of Devonshire, Two acres of the common ere to he set
apart for the recreation of the public, agreeable to the re-
rent measure proposed in the House of Commons by Mr,
Hume,—Derby Reporter.
The idea of asking a man who has not the means
of buying bread whether he belongs to a benefit society, re-
minds us of Horne Tooke's celebrated reply to the person who,
told him that the London Tavern was open to every one.