The Sun.
London, England, 1838-11-06 00:00:00

Tilt SUN, LONDON, TURSDAY, 'NOVEMBER (1, 1838.

MONEY AND CITY NEWS.

dine. On the contrary, persons in the City have been consi-.
derably surprised at the contradictions to the statements in the
City article which appeared to-day in the report of the Liver-
pool Cotton Market, for whilst our Contemporary speaks of
the " juggle having been seen through," the Liverpool
letter repeats that " there has been an active demand
for cotton throughout the week, which has restored the
market to the level of the highest rates ten days
since ; the week closing with great firmness at an
advance of kd. per lb." Now, this appears in the same
number of the Times with the account of the manner in which
the cotton market has b•,on so mysteriously raised by the
" juggling" of Mr. Biddle, which juggling was successful,
because there was not " time to write a lever" by the Great
Western ; and yet the prices of cotton are at the highest
level of the last ten days, although there Ke subsequent ad-
vices so many days later from New York than those by which
the " juggle' was effected, and which juggle has been " seen
through," according to the City article of the Times. Such
is the mass of nonsense and contradictions in which our Con-
temporary bewilders himself when attempting to fathom the
mvsterious operations of this dreadful Mr. Biddle. It is dear
that the subsequent advices from America must have satisfied
the holders of-cotton that the crops are deficient in the United
States, as otherwise the advances consequent on the receipt
of the first intelligence by the Great Western steam-ship
could not have been sustained, as reported by the Liverpool
Correspondent of the Tithes. There are also numerous Ame-
rican gentlemen now in En land who have lately visited the
cotton growing Stltes, whose reports are uniform as to the
comparative deficiency of the crops of the present year.

(FROM THE MORNING PAPERS OF THIS DAY.)
TIMES.:—The Funds were not so well supported to-day,
and a certain uneasiness appeared to hang about the market.
Consols closed at 931 to for Money and Account. The
sales of Bank Stock continued to-day, and caused a further
decline to 200 to 1 ; India Stock was 259 k to 2601;• Exche-
quer Bills, 665. to 68s. premium.
In the early part of the day the Railway Share Market was
lively. Great Western at one time were 15 premium buyers,
but at the close of business declined to 13 to 143; London
and Birmingham, 84 to 86; North Midland, 2 to 3; Man-
chester and Birmingham, -3 to 1 premium ; Greenwich, 34 to
21; Brighton, 2a to a; Blackwall, 2 to If discount.
In addition to the other joint-stock banking establishments
of Paris, Bordeaux, and elsewhere formerly alluded to, the
Marseilles papers contain a flattering account of one lately
started in that city, under the designation of Comptoir
d'Escompte. According to the statement of its operations
for the first quarter, as laid before the shareholders, the
discount of bills payable in the city itself amounted
to upwards of 5,500,000 f., and of other domestic and fo-
reign paper to above 2,500,000 f., making a total of more than
8,000,000 f. It is remarke:fas a proof of its prosperity, that
the bank of Laffitte, with a capital eight times as large, had in
the first three months after its commencement discounted corn_
mercial paper to no greater extent than 17,000,000 f., or about
double—a mode of comparison by the way, which shows the
spirit of Competition in the paper money-market to be already
active, and how it is excited. Upon the 8,000,000 discounted
it is stated that only five bills had been protested, and these
were taken up by their endorsers within the 24 hours. It is
observed, that the business done would have been more exten-
sive, but for the considerable exportations of specie which
took place at the precise period of its establishment, as usual
at that season of the year. This had led to a dulness of trade
generally, which was more sensibly felt at Marseille s than else-
where, from the eircumsunce that the Bank o! ,France bad at
the same time raised the rate of its discounts to 5 per cent.
It does not appear, as no details are given on that head,
whether the Marseilles institution was a bank of issue as well
as discount, although the fact might perhaps be inferred from
the manner in which the constant drain of specie outwards is
dwelt upon, " every packet boat," it is stated, " carrying away
out of circulation many hundreds of thousands of francs,"
from which is deduced the public utility of the bank as a means
of supplying the deficiency by paper issues, or in some other
way. _ _

FROM THE " COURRIER BELGE," 28TH OCT.
1838.—DocEs AND PUBLIC STORE MiCSES—APHoP,S OF THE
THAMES HAVEN.—The advantages of railroads are beginning
to be understood in Belgium, and on the Continent generally,
especially as relates to the increased circulation of money
which the carrying trade affords; and the very important un-
dertaking of ti.c Thames Haven Dock, at the mouth of the
Toames, of which our readers have already had an opportunity,
of intimating the inaalculable advantages to the Belgian com-
merce, which in a manner acquires the monopoly of the
portations and exportations of the Continent by this addition
to its railroads. If Belgium yet rival the foreigner, we may
c-msole, ourselves in-seeing the establishment of the Thames
Haven Dock, at the entrance of the Thames, which in a man-
ner forms the link that unites the commerce of the Continent
with England, at the same time that it joins the Ostend and
Antwerp Railroad w!th the London. The formation of this
establishment appears to us of so indisputable an advantage ;
the benefits resulting from it to Belgium so aelf.:evident ; and
the future prospects of this speculation, considered in a finan-
cial point of view, so certain, that we think it very probable
our Government will profit by the opportunity, and possess
itself of a part of the remaining unappropriated shares. We
shall, at all events, take care to keep our readers informed
upon this subject.
MR. THEODORE HOOK'S NEW NOVEL.—The
witty author of " Sayings and Doings" has just supplied the
mirthful public with more food for laughter, by the production
of" Gurney Waded," a sequel to his popular "Gilbert Gurney."
To say that Gurney in his connubial state is quite as full of
jest as ever, is sufficient, we think, to make every one hasten
to peruse the amusing result of his matrimonial experience.
Foreigners accuse us of being a melancholy people ; but in
what other country can they point to such funds of drollery,
and so just and happy an enjoyment of them as England can
boast of, even in " Gilbert Gurney" and his.nredecessorS alone
—which contain as much humour as all " Paul de Kock" put
together, without the smallest tinge of that wtiter'a dangerous
ribaldry. Their perfect freedom from all pruriency, even of
imagination, is a point that has not been sufficiently noticed by
the critics of Mr. Hook's admirable works.
CROTCHETS IN THE AIR—MR. POOLE'S AC-
COUNT OF tits BALLOON TRIP. —The public will be delighted
that Mr. Poole went up, and that he came down safe—no
matter how—for so they are put into poss,7ss' an of about a
hundred pages of more sprightly writing than has appeared
for many a long day. Our author, ,ahohad thy' singular for-
tune to float over London and its viciniorfor three hours,
assumed the character of Asmodeus in the air, and devoted to
satirizing the faults, the follies, and the vices of the metropo-
lis. that time which, wit.h 'a more favourable wind, would bare
sufficed him to travel in his balloon far beyond the sound of
Bow bells. Why so employed at such ,a moment ? Because
(we suppose), though lie had always thought ill of the frail-
of his fellow-men, he had never before felt how much he
was above them-110%v completely he looked down upon them.

The progress of joint-stock banking in France has been ad-
verted to on various occasions as a subject of considerable in-
terest with reference to its probable bearings on the circula-
tion, both paper and metallic, not of France and England
only, but of the commercial world generally. In proportion
as a paper system not confined to the Bank of France only, as
formerly, makes ground, and continues to obtain beyond a eel.•
tain point, it is obvious that the large stock of the precious
metals, always necessarily retained for the purposes of internal
circulation, when that was purely metallic or nearly so, will be
gradually diminished by almost all the extent to which it has
been replaced by paper. It will be more readily exported to
other parts where the slightest profit can be made by the
traffic, because capitalists and bankers, no longer solely
dependent upon it for the exclusive transaction of dale money
business, as heretofore, will be tempted to ok upon it as so
much dead stock at home bearing no interest or profit. It
must be evident, however, that h orn woful exp( rience the people
of France will be disposed to view this new sort of circulation
with a certain distrust, and the slightest revulsion in money and
commercial affairs would be sufficient to create a panic and a
run for sw.eie that w,,uld overthrow the new paper system en-
tirely, or retard i s further progress for many years. The
Lirger profits to be derived from trading in paper, that is, almost
in tact without real capital, may stimulate the new Joint stock
Banks of France to the same kind of ruinous competition with
each other which at various times here, and in the United

States more recently, bas led to such disastrous consequences.
It is clear the system is gaining in France with capitalists and
speculators, if n t with the community at large.
Erratum. —Under the " Money Market" head yester-
day, for " Mr. Biddle's agents manag, d to ship," read " ma-
naged to slip."

POST.—The, reports which have been current in the City
this morning relative to the movement of the Russian fleet
seem to have arisen from an article in the Odessa Journal of
the 19 h ult., which states that a squadron under the com-
mand of Rear- Admirel Artiuko, consisting of the line-of-
btttle ships Warsaw and Empress Maria, of 120 guns, and of
the 'Adrianople, Tachosme, Anapa, Eustaphe, and Pamial,
each 84 guns, had come to anchor off that place in order to
l'and troops, when, after they had completed the works at Se-
bastopol, required by the Government, they would return to
their winter quarters.
The quantity of grain which had been, and was to be shipped
from Odessa, was about 800,000 quarters, principally for th.s
country and Italy.
From Copenhagen we learn that on the 16th of October
the ship Elbe, which bad the emigrants 6om Jutland, who
seem to have united themselves in order to settle in the state
of Tamaulipas, belonging to the Mexican Union, sailed from
Aarbuss. They consist of artisans of different descripti:ins.
Considerable interest has been created to-day from the cir-
cumstance that a new company has been introduced to the
notice of the mercantile intetests connected with the trade to
South America, which promises to effect a corcplet, revolution
in the transit between this portion of Europe and the rich
countries bordering upon the Pacific. The merit of this en-
terprise is due to the great exertions of Mr. Whcelnright,
from which it may now be expected that a free communica-
tion between Valparaiso and Panama, embracing all the prin-
cipal ports on the coast, will be carried on under the sanction
of the local Governments, in conjunction with her Majesty's
packets in the Atlantic. By this project, through the Isth-
mus of Darien, the voyage from England to Lima will be per-
formed in about thirty days. and to New South Wales in abou
seventy days, instead of four months. Of the utility of, such
plan
willa undertaking
most
important
needo rta notnta n
cdo mmmuectiht ,
increased inasmuch
field
exercise of mercantile enterprise and the application of British
capital. asthfeor the

The London and Birmingham Railway Company
have bought up and discontinued two out of the four remaining
Birmingham coaches, and are now trying to induce the pro-
prietors of those remaining to' dispose of their coaches and
horses to them.—Northampton Herald.
The Council of the Royal Society have decided on
proposing, at the general meeting, Nov. 30. that the Marq&s
of Northampton be elected to fill the presidental chair, vacant
by the resignation of his R'.yal Highness the Duke of SLITFes.
Mr. Baily having also resigned the treasurership, Mr. Lub-
bock will be nominated in his place..Atheineunt.
NEW COLLEGE AT BATII.—The inhabitants . of
Bath are about to cause to ba erected, on the heights nrar this
city, a new College, to be called Queen's College. It is to
be in connection with the Uoiversities of Oxford and Cam-
bridge, and the routine of study is to include every branch of
learning and science taught there. The project is to be car-
ried into effect by transferable shares of 1001. each, bearing
five per cent. interest. The designs and plans for the build'_
ing are preparing under the direction of Mr.. Minners.—Bath
G:izette.

CHILD DROPPING.—About half-past six on Fri-
day evening► a fine female child, apparently about three weeks
old, was found at the street door of Mr. Hoare, in Eaton.
square. It was conveyed, wrapped up, as it had been left, in
'ome old flannel, to the police station, and from thence to St.
George's workhouse.

On Saturday morning a gentleman named Heasten.
residing in Upper Spring-street, Bryanston•square, was found
in his bed coviTed with blood. It was at first thought that he
had committed suicide, but medical assistance having been pro-
cured, it was found that he had ruptured a blood-vessel, from
the effects of which he shortly afterwards expired.
MR. PAULTON'S LECTURES ON THE CORN-
LAWS —These lectures, delivered in the Corn Exchange on
the last two Thursday Evenings, were of an extremely impor-
tant and interesting character. Indeed they were so full of
valuable truths, ably enunciated and forcibly conveyed to the
auditory, that we feel it impossible to do any thing like justice
to them in the space to which our reports would be necessarily
limited ; and we think that the Lecturer would greatly enlarge
their utility, by publishing them in a separate form. The
second lecture, on Thursday evening last, was even more nu-
merously attended than the first. At its conclusion, Mr.
James Wheeler, printer, Whittle-street, attempted to per-
suade the auditory that nothing would do but ITniVersal Suf-
frage, and that it was the cure-all ; but this was too much for
the good sense of those present, who would not hear Mr.
Wheeler. A vote of thank', on the motion of Mr. J. B.
Smith, the Chairman, was given to Mr. Paulton, for his able
and valuable lectures.—Manchester Guardian

HERAL D.—A strong feeling of anxiety continues to per-
vade all the leading classes here upon the very
.important
questions of our present and future policy with Russia, as well
as that which is to be exercised towards our North American
colonies in the case of Lord Durham's return, and towards
the United States should the boundary question not be satis-
factorily arranged. Without pretending to refer to the nu.
merous idle rumours which have been circulated here to-day,
it will be sufficient to remark that the circumstances to which
we have already referred have given rather a downward ten-
dency to the public securities of this country, as will be seen
by our subjoined quotations.
Amongst
in
thet mostthe
public
securities,immediate causes
is uneasinessof
thefact that to day
to the
speculators
fair samples of wheat have commanded better prices than on
Monday last, by from Is. 6d. to 2s. per quarter ; and as up-
wards of 800,000 quarters of wheat have been and are shipped
lately from Odessa to Italy and this country. it may Le anti-
cipated that large entries of foreign corn will be made in the
course of a kw weeks, of which the balance will come to this

country.
A prospectus for a New Steam Navigation Company, en-
titled the " Pacific Steam Navigation Company," has ap-
peared to-day, and created much interest the mercantile
circles connected with the countries on the shores of the Pa-
cific. The object of this Company is to establish steam na-
vigation along the coast from Valparaiso to Panama. em-
tracing all the principal ports in Chili, Bolivia, Peru,
Ecuador, and the West coast of New Grenada, and in con-
junction with her MajeF-ty's packets in the Atlantic, to pro-
mote a more rapid and regular communication with Europe
by the Isthmus of Darien, by which it is ascertained, on the
best authority, that the voyage from England to Lima can
be performed in about 30 days, and to our Altatralian settle-
ments in about 70 days, instead of four months, points as
desiderati that can require no comment when the mercantile
interests of a nation like this become involved in the question.
Shares are not so much sought after for the sake of specula-
tion, as the desire to get out of one bad class to invest in a
better, according to opinion. Great Western are 14 a
prem., Brighton arc 2f dis., Birmingham have receded to 83
20
-
ianNew
Bank
and Croydon
es
are
Scrip
Canada prem. Au
Joint Stock Bank 3-i a prem. Australasian
and London

D. Serney, colleague with the late Dr. Harrison
for the last seven years, gives information that he has succeeded
in the practice of treating spinal diseases and distorted limbs.
Dr. Serney having made great improvements flatters himself
that he has systematically brought the treatment to a physio-
logical and mathematical certainty. chiefly by the perfection
of his mechanical arrangements, so that the said treatment is
allowed by all who have seen it to be the mildest and shortest
ever used, invariably catr:ing an improvement of health in a
very short time. The records of twenty years' successful prac-
tice in all kinds of cases can be referred to, attested, and fully
explained.—London, 22d October, 1838. Holles.street, Ca-
vendish-square.

POOR VAN AMBURGII.—This daring man is not,
as is generally believed, the owner of the wild beasts who
perform at Drury-lane Theatre. They belong to an indi-
vidual named Titus—not " The Clement"—for all that he
allows Van Amburgh for nightly running the risk of being
torn to pieces by these lions, tigers, and leopards, is 5/. a
week! Van Amburgh has his sandals, toe and heel, armed
by-a sharp and powerful spur, with which he pricks his grisly
companions into apparent submission ; and his head is rubbed
with some unguent of which the beasteses are remarkably fond,
as is seen by their frequent licking it—an act which is sup-
posed by the spectators—good easy people—to proceed from
pure affection. The manager taking for his motto," No Song
no Supper," does not allow the be utes any witte!s until after
they have performed; it is then they are fed They are kept
the whole of the day behind the scenes in the dark, and it is
wonderful that the sudden exposure to the glare of the theatre,
and especially of the foot-lights, does not turn them mad.
In the more congenial atmosphere of Astley's, they were com-
paratively well off, for they were during the day in the light
and air. Van Amburgh says he will never be able to tame
one of the tigers, it growls most ferociously at him; the,
unfortunate man had his leg lately torn, but whether by this
amiable cub, or one of the oth.2.rs, we know not.—Literary
GazPtie.
LIVERPOOL COTTON MARKET, Nov.
steady demand is continued for cotton. The sales were 5.000
to 6,000 bales, of which 500 were American, and 400 Surat,
to speculators.
BRISTOL SUGAR MARKET, Nov. 2.--The
Sugar Market is dull in the extreme; the speculations of
the monopolist have failed. and the delusive and exaggerated
accounts of the temper and industry of the emancipated slaves
have proved abortive ia cresting an artificial scarcity, and
raising prices to a height for which there existed no justifiable
cause. Our authentic information, received through a channel
in direct communication with the Colonies in question, and
which has been corroborated by all that has been published
from other sources, enabled us to put before our readers. the
real feelings of the people, and the true condition of, the mar-
ket ; and in the recollection of some we may have revived the
old adage, " Believe a merchant and die a begfiar." Sugars
may be quoted 2s. to 3s. lower, with a decided'tendency to a
further decline. The relative stocks now and this time
twelve-months have very considerably increased, being now
16,600 hhds. and 18 000 mats more than last year ; whereas,
about a month ago. there was only 3,000 hhds. 2;200 mats
surplus.—Bristol Mercury.
We are glad to find that the case of the poor weaver
at Newton, John Williams's. committed to Montgomery gaol
for twelve months from inability tofind bail, fixed purposely high
by way of punishing him, has attracted the notice of the Se-
cretary of State, and that his liberation has been ordered
by the committing Magistrate. We trust the Rev. Mr Evers,
the committing Magistrate, will not be suffered to remain
longer in a situation for which he has proved himself most

C H RON IC L E.—Considerable surprise was occasioned to-
day in the English Stock Market by the sudden depression
of Bank Stock to the extent of nearly 21., in consequence of
some very extensive sales, especially as they were understood
to be on account of a proprietor who has hitherto been a large
bolder and a warm supporter of of the institution. The clos-
ing price for money was 200 k to 2011 ex-div., and for the
account 201 to 202. We have; so repeatedly pointed out the
impossibility of the present extravagant dividend of 8 per cent.
being continued for any length of time by drafts upon the
" rest" or surplus capital, and what must ultimately be the
consequence of such a fallacious system, that it is unnecessary
to dwell upon the matter any further at present, and if the
public have been taken by surprise by the present fall it is no
fault of ours; and unless the Directors determine to lower
the dividend upon Bank Stock, it is evident the present price
cannot be maintained. In other respects there is no alteration
of moment in the English Stock Market. Consols closed at
93 to a for money and the account; Exchequer Bills, 66 to
68 prom. ; India Stock, 259,i to 2601 for money, and 260 to
261 for the account; and India Bonds, 61 to 63 prem.
The Times has again been furnishing another budget of
Merry- Anthew ism this morning about the cotton spe-
culations of the Bank of the United States. The ad-
vances in the price of cotton at Liverpool, which all the
rest of the world imagined to be attributable to the diminished
growth of the plant in the present summer, has suddenly been
found out by the Times to have been owing entirely to the
manoeuvres of Mr. Biddle and the friends of the Bank of the
United States. Previoui to the sailing of the Great Western
steam-ship prices began to rise in New York, and, according
to our Contemporary, the scheme was concocted with so much
adroitness that there was not even " time to write a letter" by
the Great Western, in order to prevent the effects of these ma.
chinations on the European side of the Atlantic Ocean. How
it came to pass that Mr. Biddle and his party alone hid
time to write a letter" on the subject of the cotton market
to explain ;
of New York, and no other person had the opportunity to
send contrary statements by the Great Western, our Contem-
bpuotrairtydduocesscreirottaianiliypesearemtotubbeevrearytbsevr illing or ablesingular that the letters
which there was not " time" to write by the above-named
vessel should not at least have been forwarded by the packet-
ship United States, which left New York some days after the
Great Western, and could so readily have brought over intel-
ligence of the measures of the Bank of the United States,
anti consequently have caused the price of cotton again to de,