The Sun.
London, England, 1838-01-12 00:00:00

ONEY MARKET.

THURSDA r EVENING, —Little attention seems to have been
bestowed in the city on the fact, which is nevertheless, a curi-
ous and remarkable one, that in pursuance of the notice given
in Tuesday night's Gazette, all purchases on account of tina
sinking fund have now cessed. Thus of,lNolueghPfiotrt'sthr:uinotnedg
measure in 1786 not a vestige remains, alh
interval of 52 years since that time we 'slave never been wholly
without some capital, however small in amount, which was
destined to the redemption of the national debt. The old
fallacy of borrowing, or employing funds originally borrowed
for such a purpose, lasted till 182 D, since when only the
actual surplus of rever.ue, or what professed to be so,
has been employed kr that purpose. It thee neces-
sarily became of a variable instead of a.fixed amount, and the
expenditure being equal to, or greater- than, the national in-
come, it sinks, as a matter of course, to nothing. The amount
has long been so much diminished as to have lost all influence
upon the transactions of the Stock Exchange, and for the last
quarter did not exceed 5001 daily. A revival of the sinking fund
will take place, under the exissing arrangements, in the event
of there being any surplus revenue ; but the prospects of that
are so slender, that it is generally presumed that we may now
take a final leave of it.
The great calamity which has befallen the city, in the de-
struction of the Royal Exchange, of course occupied the
general attention, hut did not lead to a suspension of business
to the degree that many persons would be inclined to an-
ticipate. The activity shown in providing means for over-
coming the difficulty in which so many great establish..
mints ha 1 been involved was really wonderful, and it
may be said, that although many individuals have been
put to the greatest inconvenience, no transactions have
been left undone which it was material to have performed.
This is a quality which distinguishes all great trading
communities, but its power cannot be known or under-
stood till it is called into action by an event like this. Had
it been asked only yesterday whether it was possible to
find a place at a few hours' notice for the business of the
body of merchants of London who congregate on the Ex-
charge, with that of Lloyd's and the Royal ExchangeAasu-
ranee Company, without taking into the account the numerous
trades and professions which occupy that quadrangle, it
would have been declared wholly out of the question. Yet
the merchants at the Guildhall have not only hs mush space
as they require, but have the • advantage of shelter from the
weather, which they did not before possess, and £0 admirable
is even the position of the building for this purpose, that by
this time to-morrow every merchant or broker, or trader of
any kind, will find the whole so arranged that he may expect
to meet with the same faces in the same corresponding situa-
dons with the points of the compass as before. The.
only objection is its not being so central to the city,
but that is generolly allowed to be of very tritline.
moment. The light is not so good in the Gni
ld-
hall, and in that respect the Corporation were same-
what unprepared, but by to-morrow there will' be no
complaint of that description. In the London Tavern the sub-
scribers to Lloyd's are likely very soon to have all the arrange-
ments suitable for their purpose, though, in point of situation,
that is hardly so good as could be desired. In the house in
Lombard-street, formerly the banking-house of Esdaile and
Co., the Royal Exchange Assurance Company, if they sue_
coed in occupying it, will be even better off than before, as
their offices ovor the Exchange were far from convenient, or
well adapted to so large a business With respect to the
books and papers destroyed, the injury is much less than could
have been supposed, and this is the great consolation. in the
estimation of the merchants, which has attended this( ilimity ;
a new building is easily erected, but the records'of some of
these great Public Institutions could not in any way. have been
replaced.— Times.

Mrt. StiEt L.—We are gratified to learn that this
distinguished gentleman has arrived in town, for the purpose of
attending the great national banquet ou Thursday next._
Dublin Morning Register.

That admirable Englishman, the Rev. Horace
Cholmandeley has again come forward with the spirited con.
tribution of 1001. to the O'Connell Compensation Fund.—
Pilot.

DONCASTER RACES.—The nominations closed on
Monday night at York, London, and Newmarket, except for
those stakes which remain open till the last day of March
next, for reasons already mentioned. The total number for the
next St. Leger is sixty-nine ; for the Champagne twenty-five
and for the Two year olds nineteen. The lovers of the turf will
be glad to perceive that the plan suggested last year by Mr.
Charles Greville, with respect to the time of closing the no
minations for the St. Leger in future, has been already re-
markably successful. The total nominations for this splendid
race for 1839 present the extraordinary number of one him-
dred and seventeen subscribers. The Park Hill Stakes (for
fillies) for 1839 numbers seventeen. This stakes, it is confi-
dently expected, will be much increased another year, when
the fact of its existence has become more generally known.
It may be necessary to state that this stakes (formerly the filly
stakes), derives its name from the circumstance that Park Hill
was the residence of the late Colonel St. Leger, the originator
of the race which bears his name—the same as the Oaks is
that of the Earl of Derby. For the present year the nomina-
tions are perfectly satisfactory. But those for 1839 will rex),
der the meeting of such a character as completely to ecli-ese
all its predecessors. We have on former occasions pointed
attention to the feet, that several noblemen and gentlemen
were desirous of increasing the popularity of the Doncaster
meetings ; and in doing so, we also mentioned the necessity
of the Town Council cordially seconding their wishes. Tim
former have fully and satisfactorily verified their intentions;
and we trust that, in the part of the latter, a correspondin
spirit will be readily manifested.—Doncaster Gazette.

On Mondays a public examination. of the chili:iren
of the Welsh School 4 took place at the school-house, in. gray'slon-road, in the presenCe of the Right. Rev. the Le:ed Bishop
of st. Asaph, the Right Reverend the Lord Bishcro of Llandfdr,
the 13ov. John Jennings, Pre9endary of NNes'.llyinfiter.,• V. T.;
the Rev. Dr. Griffith, Chaplain to the ins,'...itution;:, and a vey
respectable company of the governors and their ladioS; :• The
right reverend prelutes who were so kind as to condudt4thes
examination expressed therasolves highly gratified with the
pr:lSoieney of the children in all the branches of their educa-
tion, particularly those which related to religious instruction;
and all present testified unqualified approbation of their very
neat, healthy, and orderly appearance.