The Sun.
London, England, 1862-11-01 00:00:00

THE SUN, LONDON, SATURDAY EVENING, NOVEMBER 1, 1862.

Ol\T.'9

CRIMINAL COURT---TH.

IS DAY

POLICE-TITIS DAY.

Busineas don
59f

OLD COURT.
(Before the Lord Chief Baron.)
THE EXTENSIVE COMMERCIAL FRAUDS IN THE CITY-

103 j i I

VERDICT AND SENTENCE.
1 The trial of David Braun and Benjamin Kotoski, who
' are described as merchants in the City, and having a firm
in Canada, who were indicted for a conspiracy
in falsifying
the entries in their books and accounts after their bank-
ruptcy, with a view to defraud their creditors, and which
was commenced on Thursday, occupying the whole of that
day and yesterday, was resumed this morning.
The evidence on the part of the prosecution, which was
closed last night, was for the moss part of a very volumi-
nous and intricate character, and documentary.
Mr. Sergeant Ballantine, with Mr. Metcalfe, conducted
the case on the part of the prosecution, and Mr. R. P. Col-
lier, Q.C., specially retained; Mr. H. Gifford, Mr. Sargood,
of the Bankruptcy bar, and Mr. F. IL Lewis, appeared for
the defendants.

Mr. R. P. Collier, in a very lengthened and earnest
speech, addressed the jury, contending that the evidence
entirely failed in maintaining the charge of conspiracy with
intent to defraud, but did not call any witnesses.
The learned Judge in his summing up went through
the whole of the evidence, and commented in strong terms
on the conduct of the defendants in obtaining goods to the
enormous amount of £36,000, and transmitting them to
Canada out of the reach of the creditors.
The jury retired to consider their verdict, and, after an
absence of twelve minutes, returned into court and deli-
vered a verdict of guilty against both prisoners.
Mr. Metcalfe said that on the part of the assignees, who
had only acted in the prosecution for the Protection of the
public, as regarded the defendant Brann they desired to re-
commend him to the consideration of the Court, believing
that he was influenced in what he did by the other de-
fendant, Kotoski.

woman was known,

The learned Judge said he agreed there was a distinction
in the two cases, and should mark his sense of the fact ; it
was a source of vast mischief to the commercial credit of this
country, that the defendants should have obtained so large
an amount of property and transferred it to Canada, where
no doubt the money was paid for them ; but the creditors
here found their goods gone, and no assets to pay for them.
The sentence on Brann would be two months' imprison-
ment; but in that of Kotoski, it would be 12 months.
The defendants appeared to have expected the sentence
would have been more severe.
Mr. R•. P. Collier said there was another indictment
against the defendants for felony.
Mr. Metcalfe said he did not propose to offer any evidence
on that.

A formal verdict of acquittal on that indictment was then

taken.

The trial of an old man for rape terminated the business
of the session.

7HE BEGINNING OF THE END.

To say that gold has risen to 33 per cent. pre-
mium is a plesant way of stating that paper money
has depreciated 33 per cent. Practically, in their
conversation and reports, the Wall-street financiers
make paper the standard, and talk as if gold had
risen above the standard. The fact is, as they and
everybody else know, that gold is the standard,
and that paper has fallen below this standard and
is at a large discount. In a word, the one dollar
bill yon have in your portmonnaie is worth, accord-
ing to yesterday's quotations, only 67c. That in-
formation affects you in quite a different way from
the stereotyped announcement that gold has risen.
You do not care how high gold may rise so long as.
your bank bills are at par. The delicate sophism
of the money changers leads you to forget that it is
not gold that rises, but paper money that falls.
Every time that the premium on gold inc: eases the
bills in your pocket lose in value. Your riches, if
they happen to be in paper money, take to them-
selves wings and fly away in spite of you. You
find that the prices of coals, of flour, of butter, of
dry goods, of clothing, of all the common neces-
saries of life, also rise with gold. The main secret
of this rise is that the merchants with whom you
deal can only give you 67c.-worth of articles for
your dollar bill, worth only 67c.; and so they raise
their prices in order to balance the discount on
paper. If you can afford to hold on to your
bills till the war is over they may regain their
original value. If you must part with them
now—and nearly every one must—then you
are certain to suffer. It being understood, there-
fore, that the rise in gold is really a deprecia-
tion in the value of paper, the people inquire who is
responsible for this great depreciation. We answer,
Secretary Chase and the present Congress. The
Treasury Department has been most grossly mis-
managed. Secretary Chase had a sound system of
finance prepared for him by practical men, but he
does not know how to manage it. If this system
now in operation had been properly carried out
paper could not have depreciated more than 8 per
cent. by this time. There is nothing either in the
condition of the country or the position of our
armies to justify the present large depreciation.
If the war had been weighing upon us for ten
years, and our prospects of success were still doubt-
ful, then there might be some excuse for such a pre-
mium upon gold. But the war lasted but a year
and a half, and its fortunes are indisputably in our
favour, and still, on the very days that great Union
victories are announced ti,e, premium on gold in-
creases. Clearly, then, there is mismanagement in
the Treasury Department. If Secretary Chase had
pressed upon Congress
at the opening of its last
session the immediate necessity of a Tax Bill,
and had followed this up by a Tariff Bill, a
Bankrupt Bill, and a bill taxing local banks,
.roe should have had none of this trouble,
end the legal tender notes would now be
but little if at all depreciated. Instead of this,
Secretary Chase seemed contented with the passage
of the acts authorising the issue of legal tender
notes. The Tariff Bill was passed some time later.
The Bankrupt Bill and the bill taxing banks were
not passed at all. The Tax Bill was at last forced
on the stupid, timid, ignorant Congressmen by public
opinion speaking through the unanimous press. In
the meantime Secretary Chase devoted himself to
interfering with the War Department, intriguing
for and against our Generals, and organizing a
Radical Abolition political party, with a view to
the next Presidency. The bills for supporting and
maintaining his legal tender currency were post-
poned. The Confiscation and Emancipation Bill
is delayed, as the military draught has been,
for fear of influencing the elections. This is sacri-
ficing the nation to a party most remorselessly. It
is not to late to remedy all this, however. The
example of William Pitt, who carried England
through a long war by a judicious system of taxa-
tion, loans, and legal tender currency, should be
studied attentively by Secretary Chase. Let the
Tax Bill be enforced so as to supply the Govern-
ment with money, and, with the Tariff Bill, form
the basis of the currency. Then let Congress at its
_
next session pass a bill taxing banks, so as to re-
- strict the bank circulation, and thus prevent the
country being deluged with two kinds of paper
money—that of the Government and that of the
local banks. Then let a Bankrupt Bill be passed
to liberate those of our business men who have their
hands tied by old debts resulting from former
failures. This done—and with the ordinary chances
of war in our favour—the premium upon gold can
be reduced to at least 5 per cent. If Secretary Chase
were to retire from the Cabinet, and give place to
a better financier, this result would be indubitably
hastened.—. New York Herald.

THE EX-QUEEN OF NAPLES.—The Semaphore
of Marseilles announces the arrival in that city of the ex.-
Queen of Naples, wife of Francis IL The Princess, who
is represented as accompanied by a numerous suite, travels
under the name of Mme. de Vytlembech. The Count and
Countess de Trani have elso arrived at Marseilles. It ap-
pears strange, if the account of the Semaphore be correct,
that no mention of the young Queen's departure from the
convent in Germany is given in any journal.
THE KNIGHTS OF THE GARTER.—Sir C. Young
Principal King of Arms, and his assistants, were engaged
the whole of Thursday last in the Chapel Royal of St.
George, Windsor, taking down and removing from the
chapel the banners and other insignia of the deceased knights
of the order of the Garter, and placing over the stalls of the
newly-elected knights their banners, swords, helmets, and
other regalia of this most noble order. Those that have
been removed were of the late Duke of Bedford, the late Lord
Fortescue, the late Duke of Buckingham, the late Sultan,
and the late King of Portugal. Those of the new knights
are as follows :—The Duke of Somerset, Lord Russell, Lord
Shaftestury, and Earl Fitzwilliam. There remains one
vacancy in the order by the death of Lord Canning, Stalls
are to be provided for the Prince of Hesse and the Duke
of Mecklenburg, whose banners, Stc„ will be placed in the
chapel in a few days.
CRYSTAL PALA.CE.—ONE SHILLING DAY, Friday,
Oct. 31.—Admissions on payment, 3,736; ditto by season
tiokete, 705; total Tioitora, 4101,

MARLBOROUGH-STREET.
ROBBING AN AUSTRALIAN IN A CAB.—Mary M'Que,
a showily-attired female, who said she was an unfortunate,
was charged before Mr. Knox with stealing a gold watch
of the value of 30 guineas, the property of Mr. James
Anderson, au Australian gentleman, residing at 80, Har-
ley-street.

Mr. Anderson, who said he was an Australian, said that
at three o'clock this morning he got into a cab with the pri-
soner, whom he met in Oxford-street. After being in the
cab about 10 minutes, he got out, when he missed his
watch. A constable came up, and be told him that he had
lost his watch, and the constable took the prisoner into
custody. The watch produced was his property, and of
the value of 30 guineas, and when he got into the cab was
attached to his neck chain.

In answer to Mr. Knox the prosecutor said that there
was another female in the cab with them, but she left a few
minutes before he dil,
58 E said he was on duty in Duke-street, Portland-
place, and prosecutor informed him that he had been robbed
of his watch. He went after the prisoner, who on being
brought before the prosecutor, he at once said the prisoner
was the woman who bad robbed him.
_

Sergeant Lawrence Ryan, E division, the acting inspec-
tor, said that while prisoner was standing in the dock at
the station he observed that she seemed very uneasy, and
on going round he took from between her shoulders under
her dress the prosecutor's watch.

In answer to Mr. Knox, Sergeant Ryan said the other

Mr. Knox said that he would remand the prisoner for a
week and the watch, so that there might be no failure of
justice, should remain in the hands of the police.
The prisoner, although the watch was found on her,
said she was not guilty.
Mr. Knox said she would ultimately go to the sessions