The Sun.
London, England, 1853-02-04 00:00:00

LONDON AND COUNTY BANK.

That part of the proceedings at the annual meet-
ing of this bank yesterday, which had reference to
the exertions made by the directors to promote the
interests of their clerks, certainly deserves more,
than a passing notice at the present time, when the
ultra-utilitarian spirit of the age had tended some-
what to loosen those bonds of attachment which
ought to exist between -capital and labour. It ap-
pears that the directors, in consequence of the
prosperous state of the bank, have determined to
give each of their clerks a bonus equivalent to 10
per cent. on his salary for the year. But this is not
all. Mr. J. Sadleir, the chairman has, with the
assistance of his colleagues, succeeded in carrying
out two ideas of his own, with the view of benefit-
ing the officers in the bank in a still greater degree.
The old system of requiring clerks to give bonds of
fidelity from private friends or guarantee societies,
has been abolished, and there is substituted a plan
of mutual guaranteeship among themselves, each
contributing his share according to ascertained scales
to a fund out of which all losses through dishon-
esty will be made up. The maximum amount is to be
fixed at 3,0001., and all the surplus beyond that is
to go towards the formation of a provident fund
for the assistance of aged or disabled clerks and
their families. To this latter fund Mr. Sadleir has
presented the munificent donation of 4,5001., and
it is anticipated that it will be • further augmented
by subscriptions from other quarters. These three
most wise and judicious measures cannot but be
productive of much good, both as regards the clerks
and their employers. The abandonment of private
suretyship will release the former from a disagree-
able sense of obligation to friends and relations ;
and the latter will find that, under the new
arrangement, all the clerks will have a per-
son al interest in protectint, the bank from any
species of peculation. Then the fact of there being
a provisionfor old age andfor the families of deceased
members- of their body will relieve the minds of
the clerks from that harassing anxiety which po-
verty in prospect for themselves and those depend-
ant on them, is sure to occasion ; and thus they
will enter upon their various duties with cheerful-
ness and goodwill, and unclouded by any feeling
of despondency as to the future.
By taking the initiative in such important im-
provements as these, the late Hon. Member for
tbfaevoottste of
tChaartl ow
nu
rwill renderrus a
and
himselfntothellgen t especialbody
London.

GENERAL 13- ROTHERTON AND M.R. COBDEN.

Mr. Cobden presents his compliments to the Editor of
the Times, and will be obliged by his inserting the fol-
lowing correspondence which has passed between him
and Lieutenant-General Brotherton.
Manchester, Feb. 2.

" Lieutenant-General Brotherton presents his com-
plimants to Mr. Cobden.
" He sends him a duplicate of a letter he addressed to
him yesterday, at his town residence, 103, Westbourne-
terrace ; but finding he is not in town, and not likely to
return immediately, and as the letter might not be for-
warded to him, he thinks it better, in order to avert the
chance of delay, to send him this duplicate.
Jan. 30.

"Travellers' Club, Pall Mall, Jan. 29.
" Sir,—l perceive, by a report of your speech at the
meeting of the Peace Confouerence
mat Manchester
say that, on n
Thursday evening last, y arede to ,
order to test the sincerity of those who differ from you
in opinion as to the probability of inv
0004,asion you will
inva-
en-
ter into a legal bond topay down 10, when
sion takes place, to him who will undertake to pay is.
a-week as a subscription to the Manchester Infirmary
till that event does occur.
"Being one of those who differ from you totally in
opinion upon this subject, I accept your pro
engagement
osal, and
am prepared to perform my part of the
when I receive your reply.
" I am, Sir, your obedienervant,
" T. W. Bta
ROTHEBTON.

"To. It. Cobden, Esq., M.P."
MR. COBDEN'S ANSWER.
"Manchester, Feb. 2.
"Sir,- --In reply to your communication I beg to say,
that although my offer, to which it refers, was addressed
to a gentleman individually, and not to the public, yet,
as he has declined my challenge, and as your leetter
and
duplicate, forwarded to me at two
ion has reached me, I
addresses, have come
to hand before any other applicat
have very great satisfaction and pride in transferring to
a General in her Majesty's service the insurance against
the risk of invasion Which I had intended for the relief
of the terrors of a respectable conductor of an influential
provincial newspaper. I must, however, suggest one
alteration in the terms of agreement as contained in your
letter. Instead of undertaking to pay 10,000/. wh
duty en an
invasion takes place to one whose professional it
might be to prevent such an event from occurring, and
who might thereby be placed in the invidious position of
backing the chance of his own defeat, I will, upon tho
condition that you subscribe a shilling
engage a-week to
ent to
the
Manchester Infirmary, enter into a eant
pay you the above sum of money when a French inva-
sion is attempted. Enclosed is the name of my solicitor,
and I should wish the bond to be completed as soon as
possible,—in which, with your views, you will
say agree with me ; and I have the honour to be
"your obedient servt,
" RIC an
HARD COBDEN.

"Lieutenant-General Brotherton, &c.
" P.S.—I shall inform the treasurer of the Manchester
Infirmary that a subscription from me to that charity of
2/. 12s. a-year will be paid by you during your lifetime,
or until the French attempt an invoiost of then isla "
ndfh