The Sun.
London, England, 1853-01-22 00:00:00

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The attention of our readet
and. so frequently directed to the It‹.
of the French money market, that tt),„ ve
learnt without surprise the sudden and violent fall
in the public securities and other, marketable in-
vestments which occurred at the Bourse of Paris
on Wednesday afternoon. In less than two hours
the funds fell nearly 2 per cent., railway shares 15
per cent., and the Credit Mobilier 20 per cent., but
the market has since rallied to a certain extent.
There is no doubt that this considerable fall coin-
cided with the disclosure of Louis Napoleen's in-
tention to naarry Mdlle. De Montijo, for the Bourse
took a most desponding and unfavourable view of
that romantic determination. But it cannot be
supposed that this incident would at once have
produced these serious consequences, if the previous
condition of the market had not been such as to
render it peculiarly sensitive to any cause of de-
pression. Upon the whole the political hoiiibn is
as calm and clear as it is likely to be in the existing
state of France and of Europe. The recognition
of the Empire by the Northern Powers has been
got over in a manner which, if it be not flattering,
is at least safe ; and although several recent causes
have combined to render the conduct of the ruler
of France more questionable and his stability more
precarious, there is no question of his power and
his determination to defend himself against every
form of opposition now likely to be offered to him.
The true causes of the depression of the French
funds are, in our opinion, the unsound and even
dishonest practices which have been resorted to,
with the cognisance of many members Of the Go-
vernment, to give an artificial stimulus to credit,
and to create a transient and fictitious prosperity,
not based on the legitimate production and increase
of wealth. For more than six weeks the tendency
of the market in France has been to depression,
although. the Government has notoriously employed
all the means at its command to keep up prices.
The Caisse des Consignations et Depots, which cor-
responds in some respects to the funds standing in
the name of the Accountant-General (except ,that
this property is, in France, under the control of
the Government), and likewise the new company of
Credit Mobilier, have been large and constant
buyers, not, as may be well supposed for their, own
financial advantage, but for the political purposes
of the Government. We must presume, from the
abrupt fall of Wednesday, that they were no longer
in a condition to meet the amount of sales. At the
same time, the excess of private speculation in va-
rious crude schemes has been unexampled, and the
avowed object of the increased facilities of credit
granted by the Bank of France and the joint-stock
banks, under the sanction of the Government, was
to encourage a spirit of adventure to the utmost.
An immense number of lines of railroad have been
conceded and commenced ; public works of every
kind are begun, with apparent indifference to the
means of paying for them, although many of these
undertakings had, from their magnitude and mag-
nificence' been postponed by former Governments.
The Napoleon Docks at Paris—Algerian mining
companies—a proposal for imitating the commer-
cial grandeur of the East India Company in Nor-
thern Africa—a Crystal Palace in the Champs
Elysees, and fifty other hasty schemes, have been
negotiated on the Bourse in the last two or three
months, not for their intrinsic worth, but for the
profit or loss which the shares might be made to
bear. Many of these jobbing companies have been
brought out under the cover of the greatest names
in the present official and governing society in
France. Thus, the Duke de Bassano, Grand
Chamberlain to his Imperial Majesty Napoleon
111., figures in that part of the Stock Exchange at
Paris which is not the post of honour, as chairman
of an insolvent company of mines at Bona, in
Algeria • and it has been already intimated that,
by the rules of the Bourse, Marshal St. Arnaud
has been brought into a similar position. With
these egregious examples before our eyes, we may
readily imagine what the effects of a commercial
crisis in a general depression of marketable stock
must be on that humbler class of persons who do
not derive their information from the Cabinet, or
their resources from the State. We fear, too, that
it will turn out that some of the mercantile houses
in Paris which ought to have known better, have
been allured beyond the limits of prudence, partly by
the hope of gain, but far more by the dread of offend-
ing the existing Government. Throughout the poli-
tical vicissitudes of the last few years we have been
forcibly struck by the singular want of independent
conduct and of foresight in the commercial classes
abroad. They have passed abruptly from exagge-
rated apprehensions to unwarrantable confidence,
and even in presence of innumerable warnings they
have scarcely had courage to act upon the distrust
they could not but feel. Their operations have
been quite as often the result of political fear as of
I commercial judgment ; and though many of them
u• . 'degree of confidencein-timpresent
Government or-Fralice;lo which it has no real
claims, they will probably bo the first to suffer
from the discreditable expedients to which it has
had recourse.
It is characteristic of the present financial condi-
tion in that country that, although the accounts of
the past year have closed, like those of every pre-
ceding one, by a large deficit, the estimates of the
expenditure for the current year are augmented by
upwards of two millions sterling. There is an in-
crease on almost every branch of expenditure, espe-
cially on the salaries and pensions of every class
of public officers, including the whole Senate
and Legislative Body, which are liberally paid for
their functions ; while the revenue of the Emperor
and his family alone is an additional charge of
1,200,0001. But we have strong reasons for
doubting whether this statement of the public ex-
penditure is a faithful one‘; and as the Legislative
Body has now lost even the power of discussing the
articles of the budget, it is impossible to verify the
facts. At any rate, the acknowledged deficiency
is a constant addition to the unfunded debt ; and
though we no longer place implicit reliance on the
official figures of the French Treasury, it is certain
that this amount of floating debt must weigh very
heavily on the money market at a time of general
financial embarrassment.
Under these circumstances, and especially with
reference to the commercial condition of the Con-
tinent, we entertain no doubt that the Bank of
England has exercised a wise discretion in raising
its rate of discount to 3 per cent. The state of
credit and of affairs in this country is sound and.
active, but it is of the utmost importance that we
should be protected as far as possible against the
possibility of a drain from abroad, especially on
securities which may prove imperfect. The rate of
exchange on England had remained, both in
France and Belgium, as low as 25f. 05c.. for the
pound sterling ; and although the accumulation of
cash and bullion in the Banks of England and of
France has been for several months unusually
large, it is certain that in the last two months the
diminution of these stocks had become very rapid.
As far as we can form an opinion in this country
of the future course of affairs in Paris, it is pro-
bable that the causes which are already putting to
the test the financial pretensions of •the Empire
will continue to be felt. Their consequences may
be aggravated by the efforts of those who are al-
ready entangled in the fall of prices • and the facts
which it is our duty to record on this subject are
precisely identical with the customary results of
fallacious experiments and incorrect principles of
public economy.—Times.

[PRICE SD.

by the testimony of the defendant, that the greater part
of this 231. was a fictitious demand, got up to enable the
plaintiff to arrest and :imprison the defendant, that he
might the more easily accomplish his wicked and heart-
less design, which was nothing less than the seduction
of the lady, who was living with the defendant as his
wife whilst he was in prison. Madame Bellevue was, ii
seemed, highly descended, and not without accomplish.
meats, and it was to remove her from the defendant, by
whom she had two children, that he concocted this claim
of 231.
The defendant was then examined, and gave the fol-
lowing evidence have known the plaintiff since
June last. I was introduced to him by a friend from
Paris, named Maubert. I am a literary man, and was
a member of the Society of Dramatic Authors. I lived
with the lady for six years, and had two charming
children by her. Maubert lived in Debacker's house,
and when I visited Maubert he saw the lady there. I
recollect the 14th of November. The plaintiff brought
down a " talma" from his " magasin. and said, here
is a cloak which my workmen have spoiled by put-
ting the back of it in the front. He put it on the
lady. • I looked surprised. The plaintiff then said that
if the lady would accept of it, he should feel very happy.
The lady said,. "Oh ! no, sir." He then put the
" talma" on the back of a chair. About a week after, I
went again to the plaintiff's, who said that he had got
the cloak settled, and wished to give it to the lady. I
said to "Ma femme," "It seems to please you my dear,
I will take it and pay for it when I have the money."
The plaintiff seetned. satisfied.' Nothing was said about
the price, It was not ,worth more than 30s. I recol-
lect something about a hat. Here-is the article. (The
witness, in' an excited manner, handed it to the jury,
saying, "Sixpence ! sixpence only !" which caused much
merriment in court.) My own halms !crushed corning
out of the cabin of one of the penny steamers. I said
to the plaintiff, "It is unpleasant that my hat should be
in this condition. I have no money at present to buy
one." The plaintiff said he had some hats up-stairs, and
he brought down two old ones. He gave me one, which
I wore for six weeks. I then bought a new one, and
the hatter allowed me sixpence for the one Debacker
gave me. The defendant uses pomatum, and his hat was
full of grease. Recollect the plaintiff bringing 12 pocket-
handkerchiefs to my "femme," who embroiders like an
angel. (Laughter.) He asked her to embroider half-a-
dozen, and to put his initials on them, and only to hem
the other six. When they were finished, Debacker said
to the lady, " I will not offer you money, but I pray you
to retain the six unembroidered handkerchiefs for your
trouble." I saw no objection to that, because I thought
her labour was worth more. I received a bill from Paris
for 151. 19s. 7d. ; it was payable at three days' sight on
the Ist of November, at the banking-house of Messrs.
Monteaux and Co. I received the bill on the 12th of
October, and on the 18th I gave it to Debacker, with my
name endorsed upon it. I gave it to him to get cashed,
because he said he was going every day to the city I saw
him the day on which the bill was paid. He said ha
had not received the amount, but he offered to
advance me money on it. The bill was paid, as
I afterwards knew, on the Ist of November. He ad-
vanced me the money in small amounts on several
occasions. He paid me 31. 14s. beyond the amount of
the bill. That is all the money he advanced to me. I'
never mentioned to Mr. Pelez that I owed him 121. or
131. I was arrested on the 18th of December, at 37,
Rathbone-place, about 7 o'clock in the evening, It was
on a Saturday. I was taken to prison after violence had
been used towards me at the prompting of the plaintiff,
who was by. I left prison on Christmas-eve, and found
my wife and children gone. I was not guilty of any
violence towards her. I have had " scenes de jalousie"
with her three or four times about the plaintiff. I
could not use violence towards her, for I adored her as a
saint.

Cross-examined by Mr. Chambers.—l have been a
married man. I separated from my first wife in 1846. I
lived with her in a fraternal way. I married her in
1835. I had not lived with her for a long time before I
left France. She never had any cltildren. I met the
present young lady at the house of her relatives—it was
not with the consent of her parents that she first lived
with me. She was then 23 years of age. Eighteen
months after I was reconciled with her parents. I was
then 41 years. Her parents were very honourable
people. She lived with me since that period up to the
18th December, and she was the most admirable of wo-
men. Her father was a public functionary. It was a
perpetual honeymoon between us till I met the plaintiff.
I never threatened her with violence if she left me to
return to her parents. On the contrary, she followed
me from France when I was proscribed by Napoleon,
the tyrant of France.

To the Court—l never borrowed any money from the
plaintiff before the date of the bill for 151.

__ ...... ....
Mr. Jones, hatter, deposed that he allowed the de-
fendant 6d. for an old hat on the occasion of selling him
new oneir 11.6100*:thuili.- ,that..t.o .!.,.. sul.. . • e
beep worn to its present; awsr,tre in _ 5iti,,,,,,:,,,.-°:',
inierhave: cost i - guni'ea originally, be ' ' '••- . : w
it came from the house of Mr. Metga„,,of Ilegent,strdet.
The limrned Judge, in summing up, said that the pre-
sent case was one of conflicting testimony between the
plaintiff and the defendant ; and it would be for the
jury, after weighing the case as presented by both, to
say which presented the greatest probability. The first
thing that would strike them was, that the plaintiff had
the defendant arrested late on Saturday night, when he
could not probably take any steps towards his liberation,
till the following Monday. And when, after six days
of imprisonment, he came to his home, he found that
his doors were sealed up, his wife and children gone and
living at a place where the plaintiff admitted that he
visited four or five times a-week. It was also very
strange that the plaintiff had not said one word about
the bill for 151. These points struck the jury perhaps
as they struck him, but as he said the evidence was con-
flicting, and it was for them to decide.
The jury at once found a verdict for the defendant.
The Judge—Then, I suppose, gentlemen, you con-
sider that the " talma" was a present.
The jury—Just so.
The Judge—For value received, I suppose. (Laughter.)

COURT OF BANKRUPTCY—JAN. 21.
IN RE MACKELLAR AND HAMPSON.
The bankrupts were shawl warehousemen, of Milk-
street. Their accounts, prepared by Mr. Maynard, ex-
tend from January 20, 1851, to September, 1852, and
contained the following items :—Dr. , Unsecured cre-
ditors, 24,9961. ; liabilities, a further amount of 28,8751.
Cr.: Good debtors, 2,4341. ; doubtful, 1,2231. ; bad,
6,8041. ; property, 3,8451. ; losses, 6,2151. ; trade ex.
penses, 2,487/. ; drawings by Mackellar, 8281. ; by
Hampson, 6441.

This was an adjourned examination meeting.
Mr. Reed appeared for the assignees ; Mr. Depree for
Mackellar ; Mr. Linklater for Hampson.
Mr. Reed said that on all hands it was agreed that an
adjournment must necessarily be ordered. He held in
his hands a medical certificate that Mackellar had been
compelled to take up his residence in a warmer climate
for the benefit of his health, and that he was now at
Malta. The facts of the case were these :—The bank-
rupts had commenced business in February, 1851, with-
out capital. On taking stock at Christmas, 1851, they
were found to be deficienct to the extent of 2,314/. On
again taking stock in July, 1852, there was found to be
a still larger deficiency ; and what their state was at the
time of the bankruptcy in 1852, the accounts
would show. The official assignee Sept.,had been forcibly
struck by the remarkable circumstance that upon the
bankrupt's sales to the amount of 13,1131., there had
been an alleged loss of 3,712. He had thereupon re-
quired that they should furnish what was known in the
trade under the name of a "piece account." The bank-
rupts had furnished that account, but as far as the
official assignee had been at present able to test its accu-
racy, he believed that the following goods had as yet
been unaccounted for, viz.,-372 dresses, 96 shawls, 30
dozen handkerchiefs, and 70 pieces of stuffs. The official
assignee was not fully satisfied that this deficiency really
existed, but was willing to believe that the apparent de-
ficiency might have arisen from the manner in which the
bankrupts had kept their accounts. Under these cir-
cumstances an adjournment was asked.
Mr. Linklater and Mr. Depree expressed their opinion
that the bankrupts would be able hereafter fully to ex-
plain the alleged deficiency of goods, and that Mackellar
would be present at a future meeting. No desire existed
on his part to remain at Malta, or to avoid the proceed-
ings of this Court.

WHAT'S IN A NAME.—The Christian name of Napoleon
is very common amongst the lower classes, especially in
the neighbourhood of Paris. Inconvenience is very often
caused by its being so frequent, and the Tribunal of Cor-
rectional Police was called on to try a case of robbery
pdNs eoenarisingpersonsaystnseegemrde b
eto whosehr
"Monsieurse last,ar ey fr therefrom.
rte aonr
arrivede
Napoleon,i n ar namesordinarily
ya calledatdhreee laNpb
Gare
Pe
attor. hleeeet
Post-office,
e v and
i
and the postman delivered it at the residence of a car-
ahmCel'yehtrersOn the Quai d'lvry are several
named Napoleon Augeron. On opening it, it
was found to contain an intimation that a parcel with
money had been forwarded by the Strasburg railway.
Although Augeron expected no remi4tance, and knew
nothing of the writer of the letter, hi found it convenient
to assume that he was the Napoleon for whom the money
was destined. He sent his son, who is also named Napoleon,
to the railway station, and he claimed and obtained the
parcel. He found it to contain 315 fr.; he quietlypocketed
the odd 15fr., and gave the 300 fr. to his father, saying
that was all he had received. After awhile the father
was disagreeably surprised at being called on by a neigh-
bour named Fort, another Napoleon, to produce the
money which he had appropriated. "But" said Augeron,u
said the money was destined for M. Napoleon, of the
Fort,9a
de la Gare, and I am Napoleon !" "No,"
A"
sl,t
however,is I who
Napoleona m t ieNapoleon n to
couldw h whom
laid
t
was
money, having spent it, Napoleon Fort
against for
against him, and lie and his son were proceeded produce complaints en ttthe
to them ; and conse-
quently money had been forwarded
could
not
giveC Called eade on for
reasonable tll ei defence,
ea us
e for
two
believing Napoleons
tha t
elder
fes t.
Napoleon T h e a
tttroitb
six,
aanc cd otrhde-
iegly the t
condemnedeft
months' imprisonment. As
younger Napoleon to three,
made announced
goodh
itshl
()s h Strasburg
was
the na
s.
THE EMIGRANT MOVEMENT.—The extraordinary emi-
tßoaiNlwaapyolceoenmpFenoyrt,baldie
gration movement from this district (the villages /be-
tween Sutton and Spalding), assumes a feature of more
than local import. The useful population in many of the
villages is rapidly declining ; even during the present
week numbers have gone from their homes, and hun-
dreds more are preparing to depart in the spring. I n
the village of Whaplode 47 houses are unoccupied, and
in other places a like proportion of untenanted cottages
may be observed. The number of wives deserted by
their husbands in this district may now be reckoned b
hundreds !

His Honour ordered an adjournment of the bankrupts'
examination of the 15th of March. •

A TORY EXPLAINS WHY TORYISM IS STUPID.—The
following passage appears in the last number of Black-
wood It may excite some men fond of p
roblems to
start the inquiry, why Toryism, with all its virtues, is so
partial to dulness—never opens its friendships, feeling,
or services to the young talents which it ought to honour,
and is satisfied with establishing a sort of aristocratic
barrier against all the rising accomplishments of the
age. The Whigs have always been wiser in their
generation—have always remembered that exclusive-
ness tends to stupidity—that a circle of dowager lords
is one of the most striking emblems of political
decrepitude ; and that Holland House brought more
recruits of talent to Whiggism, than all the tempta-
tions, even. of the Treasury, brought to its rival powers.
By some fatality all the wits in London have been
Whigs for the last hundred years--all the showy writers
have dipped their wings in Whig libations ; even all the
brilliancy of fashion, and the grace of manners, have
glittered round the mansions of Whiggism ; while if a
man of talent, destitute of the " fourteen quarterings,"
has been suffered within the folding doors of Toryism, it
is quoted as a condescension. As to the Peel dynasty,
there was no help for enduring that accession from the
loom ; Parliamentary workmen must be had, at what-
ever price ; but even that dynasty rapidly contrived to
adopt the old Tory style, and be as solemn, exalted, and
exclusive, as if they had all been barons dating from the
Conquest."

THE dHOLERA. IN ST. PETERSBMIG.—According to
the last accounts from St. Petersburgh there were 384
cholera patients under treatment on the 4th inst. On
that day there were 42 new cases, 15 cures, and the
same number of deaths • on the sth, 44 new cases, 30
cures, 18 deaths ; 6th, 2finew cases, 8 cures, 17 deaths ;
7th, 57 new cases, 25 cures, 18 deaths ; Bth, 74 new
cases, 19 cures, and 17 deaths, leaving on the 9th, 545
patients under treatment,