The Sun.
London, England, 1839-06-22 00:00:00

The SOLICITOR-GENERAL was not aware that
any objection had been made when large expenses were in-
curred in inquiring into the abuses of the English Corpo-
rations, and the present expenses were equally legitimate.
Mr. WILLIAMS was surprised at the ground that
had been taken up by the Hon. Gentleman who had last
spoken. In this instance a direct application had been
made, and the parties intereatcd ought to have borne the
expense.

WAKL EY thought this was opening a source of
patronage to the Government which ought to be closed
at once. No local expense should be defrayed by the
pablic. The Committee of the Privy Council was
actin., merely in a judicial capacity and he called
on them to show an instance of any parties acting in a ju-
dicial capacity being called on to defray the expellees of
inquiry. He observed another article in these estimates.
Prince and Pr;ncess Hohenlobe from Woolwich to Os-
tend, 101. Now, if the Prince had come over here to
perform a miraculous cure, he thought those on whom he
had operated should have paid his expences.—(A laugh. )
Sir E. KNATCHBULL said that the Right Hon.
Gentleman was starting another bare.

Mr. WAKLEY—ibeg the Right Hon. Gentleman's
pardcn-:—I am not starting a bare, but a Prince and
Princes; --(A laugh.)

Mr. BRoTHEIIION hoped the Hon. Member for
Finsbury would adhere to his principle that the public
ought not to pay local charges—at present the public paid
for the Police, of which the borough of Finsbury had the
benefit.

Mr. WAKLEY had always objected to it.
Mr. WARBURTON supported the vote, and consi.
dered the Guvernment was justified in the course it had
pursued, _

Mr. \V. MILES thought all this diieussion would have
been spared, had his amendment to the Municipal Act been
agreed to.

—Mr. BULLER considered that as the establishment of
a good police in Bolton and Manchester had concerned the
public, the public should bear the expense. The riots at
Bristol cost the inhabitants of that town hundreds of thou.
sands of pounds; and the removal of troops in cons(.
quence cost the country a great deal which might
have been saved if there were a good municipal police at
Bristol. This showed that a local police was a general
advantage.

Mr• PRINGLE supported the same view.
Capt BARCLAY and Lord HowieK made a few remark,
an i the Hon. Member for Coventry withdrew his amend.

meat.

Sir S. CANNING drew attention to the item cf
9,795/. for the mission of Mr. l'Gregor and Dr. Bow-
ring. He wanted to know if it was necessary to employ
itinerant gentlemen so ? Then the expenses that had
been incurred by the Earl of Durham in Canada ought to
be called to the attention of the Committee, as he con-
sidered they required some further explanation. The
House, perhaps, would hardly believe that those expenses
amounted to upwards of 50.0001. : no doubt they had been
properly incurred, but still he thought they required ex-
planation, for they greatly exceeded the expenses of simi-
lar missions. of which the Noble Earl bad himself com-
plained. He did rot mention this invidiously, but be
was ieduced to bring this forward in consequence of the
recollection of the parties with which Lord Durham had
always been connected.—(Cries of " Order.")
Mr. C. BULLER could not but condemn the course
adop.ed by the Right Hon. Baronet. He did not think
it fair, either towards the House or the Noble Earl to
whom he had alluded.
Sir S. CANNING rose amid loud cries of "Order."
Mr. BULLER said no imputations bed come from his
side of the House which could have induced the Right
Han. gentleman to adopt the very extraordinary course
of reviving personal feelings and bygone animosities,
which he had hoped were slumberieg in Hansard's Per-
liamentary Debates.—(A laugh.) He. admitted that
when a large expenditure was incurred the country
had a right to some explanation of the circumstances
connected with it. The Right Hon. Gentleman surely
would not contend that some outlay should not be in-
curred in sending out to such a colony a Nobleman on a
special mission as Governor-General ?
Sir S. CANNING—A Rr•puhlie.
Mr. C. BULLER—A Republic ?
Sir S CANNING—A Repuhlicaa Government in form.
Mr. C. BULLER hoped the report of the present
debate would not find its way to the public, because it
would not impress them with a very profound opinion of the
coloeial information of the Right Hon. Gentleman.—( Hear,
hear.) The House would bear in mind that the espouses
of the nreessaries of life we.-c much greater in Canad r
than it: that country, and these were considerably in-
creased by the large additional body of military which
were thrown into that small community. It should also be ,
'Teolevied that there tries no llouqe for the Governor,
and a good deal of expense was incurred in fitting up the
/louse of Assembly, which had been vacated for the Go-
r:rnor's residence. There sere also delegations to the
venous provinces, which the Governor had received or-
ders from home to attend to ; and there were also travel-
ling and other incidental expenses, which should be taken
into account. All the personal expeeses of the Esrl cf
Derhsin were defrzyed by hirnsclr, and many of the items
of expenditure incurred, such as the furniture that had been
purchased, was still available for the benefit of his successors
in the Government of the colony.
Mr. GOULBURN thought it would ha much better
to grant a fixed sum, than to give any Governor an unli-
mited power of drawing any sums he pleased,
Mr. LABOUC HERE was relieved from the necessity
of entering into any explanation respecting the expenses of
tee Earl of Durham's mission by the statement of tho ,
Hon. Member for Liskearcl, but must state that in the
opinion of his Noble Friend at the bead of the Colo-
niel Department, that expenditure had not beer.
by any means extravagant. With regard to the
expense cf his passeges, to and from this country, much
misrepresentation had gone• abroad. The fact was, Lord
Durham had not interfered in that matter at all—be haul
merely sent to the Admiralty a list of persons for whom he
required passages, leavingr, the whole of the details to
them. With regard to the missions of De. Bowring,
and M. 31'Gregor, he was surprised to hear the Right
1 Hon. Gentleman say that the Ambassadors posessedsuffi-
cieet knowledge to enable than to do without such services.
The Right Hon. Gentle:nen himself had admitted the
• merits of Dr.- Bowring, and lie was happy in that oppor.
tunity of bearing his testimony to the talents. acquire.
meats, and industry of Mr. M Gregor. No public servant
had ever rendered greater se:vices than that Gentleman.
Sir S. CANNING explained.
Lord PALMERSTON defended the mission of Mr.
M'Gregor and Dr. Bowring, on the ground that they
collected the most accurate statistical and commercial 1
knowledge in the localities which they visited. They
were eminently qualified for their duties. Dr. Bowring
made a very valuable report on the commerce of Syria and
Turkey. He (Lord Pelme.:stori) here vindicated him-
i self against an unfounded charge of indifference to the
commercial interests of the country. Under his superin-
tendence a great deal had been done to collect and
methodic commercial information of the most valuable
kind.—( Hear. )
Mr. HUME said, with respect to what had been stated
relative to Dr. Bowring, the reports- of that Gentleman
contained matters far more valuable then any information
that have been given to the country under the auspices of
the Right Hon. Bert.
Sir S. CANNING explained. -
Ms. HUME wished to know what opportunity would
be afforded for going into the other items, of which he
beli.ved there was fifty or sixty.
Mr. F. BARING would have no objection to any
other day that might be convenient being appointed. The
vote was then agreed to, the Chairman reported progress,
and obtained leave to sit again on Monday.
Mr. HUME moved for an account cf the amount of
Exchequer Bills in the hands of the Commissioners for
Savings Banks on the 20th of November, 1836 ; the
• amount of such Bills purchased in the •year ending the
20th day of November, 1837 ; the price and the dates at
which these Bills were purchased, the rate at which they
were converted into 3 per cent. or other Stock, the amount
and the Stock purchased, and dates of such conversion. An
Account of the amount of Exchequer Bills in the handsof the
Commissioners for Savings Banks, on the 20th day of No-
vember, 1837, uninvested ; the amount of Exchequer Bills
purchased by them in the scar ending the 20th day of
November 1838, the rate at which purchased, and the
dates of the purchase : also, an account of the amount of Ex-
chequer Bills converted or exchanged into Three per Cent.
or other Stock, the rate at which the Stock was converted,
and the dates of such conversion ; stating also, the amount
of Exchequer Bills remaining in the hands of the Commis.
sioners of Savings Banks, on the 20th day of NovemberlB3B.
An account of the amount of Exchequer Bills in hand on
the 20th day of November, 1838, and the amount purchased
by the Commissioners of Savings Banks since that date,
statine• whether any and what amount has been converted
into Stock since that date; the amount of Stock converted,
and the date of such conversion, and the rate at which the
said Bills were exchanged into 3 per cent. or other Stock;
stating also the amount of Exchequer Bills in the hands
of the Commissioners at this date.—Agreed to.
Mr. 11 17 Ai E moved for certain returns of which he had
given notice relative to the Bank of England.
The CHANCELLOR of the EXCHEQUER ob-
jected to the production of the returns, and the motion
was withdrawn.

The other Orders of the day were then disposed of, and
[e House adjourned at Half-past One o'Clock.

Potatoes are Bd. the stone in Connemara, Gal-
way, a famine price to the poor.
On Tuesday a man was taken to the station-
house f, r drunkenness, when, on being searched, the fol-
lowing printed card was found in his possession :—" A
Rafflo and Ball will take place at Mr. Morgan's the Sun
Goswell.street, for a Live Pig, on Thursday evening,
Jane 20, 1839, in commemoration of her Majesty's Ascen-
slim to the Throne. Tickets Bd. each, and 2d. allowed for
refreshinent The ball to commence at eight o'clock," &c.
SHOCKING ACCIDENT.—Wednesday afternoon,
asworth Lovewell, coachman to the Hon. Miss Duck-
' , was driving that lady in an open landau alon
Lansdo wne-place, Brunswick-square, one of the horses Wtt7 so severely stung by a fly that it became unmanage •
able, and plunging forward drew the vehicle against a gas
lamp post. The concussion was so trem:lndous that the
traces were torn from the chain breathings, the po!e
sna in two, and the coachman was precipitated from
"I' box. and fell heavily on his head in front of them.
ihlie was found to have sustained a dangerous contusion of
e head, and the bones of both ankles were fractured
Ho es
sPlinters ; his right heel was torn completely off.
pes are, however entertained of his recover He has
a wife and family, y.
calledKildare` "to declare their unalterable attachment and ever-
lastmg gratitude for her Majesty's approval of a Ministry
to which Ireland is indebted for impartial justice, and to
assure her Majesty of the determined support of her faith-
ful Irish people in the mairktenanee of the Royal Preroga-
tive rgainit the assumption of Tory arrogance, alike
rant to the feelings of her AlAjeslty and her loyal sub-
repug
jects." The requisition. which_ _calls the meeting is signed
Members of Parliament, and a long list
by two Peers, four
of the gentry and clergy.

MONEY MA

CITY NEWS.

TIME S.—The City has been in a state of considerable
agitation all day, Friday, in consequence of the Bank no-
tices for raising the rates of discount and interest, end the
circumstances under which they were issued. In most
commercial quarters, as well as upon the Stock Exchange,
the announcement appears to have been extirely unex-
pected • which, considering the continued unfavourable
state of exchanges for some time previously, coupled
with the well. known low stock of bullion in the coffers of
the Bank, is surprising, for parties whose sagacity in money
affairs is generally proportionate to the interest they have
always at stake in them. The reserve maintained on
the subject is creditable to the Directors, who have
not, on every occasion, hitherto stood so free of sus•
picion. In their public capacity, in arfother respeci,
their conduct with regat'd to that portion of the notice by
which Exchequer bills, as well as other approved securi-
ties, arc excluded from the benefit of the customary ad-
vances on loan, has given occasion to much animadversion,
and led to the inference that not only have they been themselves to Treasury purposes, by deferring their
determination to a period too late for holders to avail
themselves of their option for taking new bills, or
receiving payment of the old in money, but that they
have taken advantage of their own position for effect-
ing sales of their own stock of Exchequer-bills, or
the greater part, at the high rates of premium lately
ruling, to the great injury of the purchasers or present
holders. The Bank sales of Exchequer bills have
been noticed under this head on frequent occasions"
of late, but we may suppose in charity that the
Directors themselves did not foresee this state of things.
Some curiosity is expressed how the Bank country
branches are likely to escape out of the difficulties created
'by those contracts, which they are known to have en-
tered into some time ago, for supplying various joint-stock
banks in their neighbourhoods with Bank of England
notes, or discounting for them, to specified amounts, at 31
per cent, on condition that such banks should refrain from
issuing their own notes. It is clear that the execution of
such contracts of that kind as may still be in force will not
only entail a serious loss upon the Bank by all the differ-
ence between 34. and q per cent., but will operate to pre-
vent that restriction of the circulation which it is the chief
object of the Bank itself now to enforce.
As yet, of course, nothing can be known of the effect
which the rise in the rates of interest and discount, with
the limitation of the securities to be advanced upon, will
produce in the country at large, but more especially in the
manufacturing districts of the north. In the present
distressed state of those parts, it must probably aggra-
vate the pressure for money before experienced, and so
tend to cripple still more the before limited operations of
trade. Some of the Joint-stock Banks there, it is under-
stood, are, and have been of late, too deeply engaged
in extricating themselves front the consequences of
1 former prodigalities in discounts of paper cot readily
convertible, and loans on brick walls and machinery, to
be able to come efficiently to the help of the trading inte-
rests. But it is stated that one at least of the private
banks, and one too among the most wealthy in the king.
dom, has found it more advantageous of late rather to limit
the amount of its discounts here, where its town establish-
ment is uatailly among the largest takers of bills in the
market, and to transfer more of its activity and means to
the country, where it has seasonably come to the relief of
sonic of the larger description of traders, who, by the re
verse action of the joint-stock 'Lanka were embarrassed for
want of that customary accommodation which in quiet time,
was more cheaply and readily afforded at those establish-
ments.
CH RONICLE.—The greatest excitement still pre-
vails in the City, and nothing is thought or spoken of but
the extraordinary conduct of the Bank in rescinding an
order so recently issued in respect to loans upon approved
securities, and now confining its accommodation to mere
bills of exchange, without having given any intimation o'
their intention, so that the holders of Exchequer bills,
for instance, might have had an Opportunity of demanding
payment, instead of renewing -the bills with the Govern-
" n ens, under the expectation--indeed, implied certainly,
that they would be taken by the Bank of England as
security. It has been customary for some years for
the Batik of England, when the stocks shu: for the
payment of dividends, to give notice to the public of
its willingness to make advances on " Bills of Exchange,
Exchequer bills, and other approved securities," et the
current rate, stating what the rate is, for a period
of not less than ten days, and for sums of not less that.
2,000/. to be repaid, in about a fortnight or three weeks
after the payment of the dividends. This was done to pre.
vent the evils which arose formerly in consequence of all
moneys being collected to be paid into the Exchequer,
preparatory to the issue of the dividends, which caused for
a short time a most inconvenient scarcity of money, and
which was followed a few days afterwards by as great a
glut. By the operation of the Bank these two evils were
completely obviated persons borrowed money for short
periods, which was repaid when the dividends were re-
ceived ; and by these means the circulation was kept in
something- like an equal state. This year, in due season,
the usual notice was given, and in consequence of the high
rate of interest then current, it was fixed at five per cent.,
being considerably higher than for a great many years.
This was not at all complained of, as the public relied upon
the good faith of the Bank, which, spite of its many errors,
has generally been kept—ied -ed always, with the excep-
tion of the case of Messrs. Wildcs, during the American
panic. Bankers and others, in fact, considring that they
could always apply to the Bank, did not liesL ate to lend
money freely at 5 per cent., and did not indeed think it
necessary to keep the usual reserves, having their Exche-
quer bills ready, as they thought, to obtain money the
moment it, was required. What will be the case now ?
Bank,rs and others being disappointed of this resource,
cannot necessarily give the same accommodation to them,
clients, but will, on the contrary, feel it requisite to have
larger sums in their chests, which will be *antamount to
subtracting a very great sum from an nittudy limitedly
supplied market, to be kept in perfect inutility. This
reiiance upon the honour of the Bank has had the effect of
maintaining the premium cn Exchequer Bins, so as to
citable time Chancellor of the Exchequer to renew the
bills which have just become due at the same interest of
per diem, which could not have been done, had not the Bank
deluded the public by false hopes, and which, indeed:
makes it appear that the Bank bad been in collusion with
the Chancellor of the Exchequer, to enable him to get
over his difficulties at the expense of the public. Had
the Bank considered the present a prudent measure, why
did it give notice at all of lending money ? Had the re-
verse been adopted, the public would have had no right to
complain ; but having given notice, and then acting contrary
to it, is a manifest injustice to the public. The evil, if any
could have occurred from the Bank continuing its advances
on Exchequer bills, could only have lasted for little more
than a fortnight, when the dividends will be due; and when
it is certain the advances would have been repaid. An in-
stance of the serious mischief which might have occurred
from the notice of yesterday was given this morning in
the City. A leading broker had engaged to provide
50,000/. to-day for a house at the West End, relying from
the notice from the Bank of the 30th ultimo, upon the cer-
tainty ofprocuring the money upon the deposit of Exchequer
Bills ; and the consequence was that they were put to
great annoyance to comply with their engagement. Sup.
pose this had occurred to a weak house, what incalcula-
ble mischief it would have occasioned through its ram:fica-
tions 1 It was stated in leading circlet this afternoon, that
the Directors of the Bank of England begin to see the ab-
solute necessity, and intend to enter into an arrangement
with the Bank of France respecting a transmission of specie
to some extent. Our Contemporary of the Morning Post
seems to think that we over-rate the amount of gold and
silver in the coffers of the Batik of France, when we give it
at 450,000,000 francs; but by reference to the last return it
will be found we are under the mark by 10,000,000 francs,
the actual quantity being 460,000,000 fraucs. There has
been a further depression of 4 per cent. in Consols, being
last quoted at 931, but during the day they were marked
as low as 93 to k. Exchquer bills are particularly
heavy at Bs. to 10s. premium, as likewise Bank Stock at
189 to 190.
POST.—There was but little business doing in the
Foreign Bill Market this afternoon (Friday), and the
rates of exchange were considered upon the whole to have
been much the same as on Tuesday. Some parties were
disposed to hope that there was a shade of improvement,
while others were of opinion that if there were any altera-
tion at all, it was certainly the other way. On Paris the
quotation was again snore in favour of the drawer, but it
was not much. Three months' paper was done to 251*.
45c. to 50t. On Hamburg, a point of almost equal im-
portance, for the purpose of reference and comparison,
there was a reaction in favour of the taker; the transac-
tions were, however, so extremely limited as to have
afforded hardly any test of the effect of the Bank notices
of yesterday. In the course of next Week something more
conclusive may be stated upon the subject. Amsterdam
was 12 21 to Antwerp 12 2, Hamburg 13 9.1 to 101 ;
and St. Petersburg 11.
The measures generally of the Bank do not appear to
have been disapproved of in any quarter. The holders of
Exchequer bills arc perhaps rather sore to find that those
securities cannot now be received in deposit for advances,
but the truth is the usu:y law does not admit of it. A
formal application was made to the Bank Directors to-day
from the Stock Exchange, to the effect, that they might be
taken as heretofore. The Bank, however, refused on this
ground to comply with it. The Directors would, we dare
say, have no objection whatever to grant the usual facili-
ties, could it only be accomplished without a violation of
the Act. In the course of a short time it is probable that
the impediment which exists at present, with regard to the
public securities, may be removed, so far at least as Exche-
quer bills are concerned, a Bill, having this for its object,
being, we rather think, now before the House of Commons.
The complaint as to the Bank having substituted one
notice for another, does not seem to be entitled to any
attention. The Directors have been guilty of no breach
of contract towards those who thought fit to avail them-
selves of the first. They of course retain their advances,
if they choose to do so, until the expiration of the period
prescribed for the reimbursement of the came in that docu-
ment, namely, the 23d of July ; but the Bank do not
consider it expedient to advance any further on the original
terms, and there was nothing in the May,notice to compel
them to go on doing so to a given period.

A young man was rescued from drowning on
Wednesday evening, whilst bathing in the Severn at the
top of /Indict-eft, by Henry Evans, a coach painter. It
seems that the party alluded to was unable to swim, and
Evans's attention was directed to him by some persons on
the bank, who noticed that he was in difficulty, and appa-
rently sinking. Evans immediately hastened into the
river to his assistance, when be was seized by the drowning
man, but he succeeded in extricating himself from his
grasp, ar,d placed him out of danger. We understand that
iiis is the second occasion on which Evans has been instru-
mental in saving the life of a fellow creature under similar
circumstances.— Worcestershire Chronicle.
THE CR OPS.—The accounts received on Thurs.
parts of the kingdom respecting the crops
continue mostl favourable. In many districts the hay
harvest has commenced, while the recent rains have done
much to forward the grain, potato, and turnip crops, without
impeding operations in this important department of the I
Ltrmer's labours.