The Sun.
London, England, 1854-06-10 00:00:00

dews and woodlands of Sydenham to celebrate
the glorious advance and benignant development
of Civilisation. It will be remembered even
when the Crystal Palace may have been swept
from the surface of that verdant landscape,
when the printed annals of Art and Industry
may alone preserve the record of that wonderful
structure in which all the memorable triumphs of
the human intellect were commemorated in some
manner by visible representation.

We rejoice to find that the Engine-drivers on
the London and North-Western have expressed,
themselves fully satisfied with the explanations
obtained from the Board of Directors, and that
there is no longer any danger of proceedings which
must necessarily have led to great inconvenience
to the community, considerable pecuniary loss
to the company, and total ruin to the great ma-
jority of the malcontents. The complaints, it
appears, arose from a complete misconception on
the part of the drivers. They believed that it
was intended to render the contract system com-
pulsory, and that the probable result would be
a speedy dimiLution of the prices offered in the
first instance, and a corresponding reduction in the
amount of earnings by those who agreed to the
terms, who would have to submit to additional
laboUr and increased responsibility without
any extra remuneration. These doubts and
fears were unquestionably fomented by parties
such as are to be found in every large establish-
ment where many men are congregated together—
parties who would treat vague suspicions as con-
clusive evidence, and rush upon certain tangible
evils in avoiding the shadows which they had
themselves evoked.
The consequences might vimowever, have been
of the Most serious character but for the judicious
conduct of the officers of the company, more espe-
cially of Mr. WCONNELL, the locomotive super-
intendent, who, by his conciliating demeanour
and " temperate firmness," allayed the angry
passions of the dissentients without sacrificing a
single particle of the interests of his employers.
Had it not been for his popularity with the men,
and the knowledge on their part that implicit con-
fidence might be reposed in his statements, a strike
must have taken place, and the trains on the south-
ern division of the line have ceased running. His
appeal to his past proceedings, to the kindness and
justice which ho had invariably exhibited towards
every man under his control ,was enthusiastically
responded to, and induced the malcontents to await
the ordinary meeting of the Board. At that meet-
ing the assurances of the locomotive superin-
tendent were completely confirmed, and every
remaining difficulty removed. A deputation of
the men engaged at the Birmingham, Rugby, and
Camden Station attended at Euston-square, yes-
terday, for-the purpose of receiving the decision of
the Directors, and of affording any explanations
that might be required in the event of that de-
cision proving unsatisfactory. An audience was
granted to the deputation before the meeting.
After a short time a communication was forwarded
to the delegates to the following effect :—" The
Directors having considered the representations of
the engine-drivers. Resolved,--That time trial
of the contract system must be entirely optional.
It was proposed under the expectation that it
would w.,rk most beneficially both to the men
and to the Company, and if any constraint on the
subject has been exercised, it has been quite con-
trary to the orders and wishes of the Directors.
The Directors therefore wish the men to be
informed that such as prefer it may continue to
work on wages as heretofore, while such as prefer
working On contract may do so. With this ex-
planation to the men, the Directors have only
further to state that, on comparison of the scale
of wages on the London and North-Western Rail-
way with the wages given on other lines, they do
not find that there is any fair ground for corn-
plaint.—C. E. STEWART, Secretary." This was
promptly and willingly accepted, and the dispute
was, wa trust, completely and permanently healed.
It will be *teen from the foregoing that there
were two points referred to in the memorial of the
drivers ; that there were complaints, not only as
to the alleged universality of the contract system,
but also as to the wages paid to the lower class of
drivels. The real dispute, however, only related
to the first topic, and the other matter was only
thrown in as a sort of " make-weight." A plau-
sible ground, on which, if the former breach could
not be healed, public sympathy might be enlisted
on their side. They could not indeed assert,
with any degree of truth, that the scale of pay-
ment was not fully as liberal as that of any other
company ; and time moment the first point was
disposed of, the other was waived by the deputa-
tion.

It is now settled that the contract system is
perfectly optional. That any man who prefers
receiving the ordinary daily wages of his class
may do so ; but that if he pleases to avail himself
of the advantages tendered for his acceptance, he
is at perfect liberty to do so. Should he re-
fuse lie will not be visited with the displeasure of
the authorities ; while, on the other hand, the
men will not resist his adherence to the new sys-
tem. A little calm and dispassionate considera-
tion will unquestionably satisfy the drivers, that
their first impression as to the probable working
of that system was totally unfounded. It could
not lead to the diminution of wages, inasmuch as
the old rate of wages was guaranteed to the men,
and it was found that they had invariably re-
oeived handsome additions thereto ; and if, as
was generally supposed, the company also de-
rived material benefit therefrom, it could scarcely
be supposed that their superintendents or officers
would adopt any measures that could imperil a
system productive of such felicitous results.
Nor is there any danger of additional work being
required, or the drivers being kept on duty for a
greater number of hours than at present. In the
first place, there is the distinct and positive pledge
that no man should be occupied more than twelve
hours per diem. No eoinplaint could be made of
" overwork " by parties who had at least half the
day to themselves for rest or amusement—to
dispose of, in fact, as they thought proper. A
little calm reflection, too, might convince
thetn that this salutary regulation will never
be infringed on. It is more the interest of the
Company than of the drivers that it should be ob-
served. •In an occupation requiring so much
vigilance, where the consequences of any oversight
or mistake might be so formidable, no sane per-
sons would be disposed to overtax the energies
of the drivers. The slightest hint of such an at
tempt would enlist the public in the quarrel

We know how anxiously many persons are on the
look-otit to "pick a hole in the coats" of Railway
Directors to get up even a plausible ground of com-
plaint. If such an opening were afforded as keeping
drivers 16 or 18 hours at work, how many threats
would be fulminated, how many missiles dis-
charged at their devoted heads. The outcry
would not cease until its cause had been com-

pletely removed. The drivels need not fear any
infringement of the salutary rule, because they
have not only the solemn pledge of the Board,
which would alone be sufficient, but also they
know that it would be a suicidical policy for the

authorities to endeavour to disturb it. We trust,
then, that not only will all traces of dissatisfaction
be entirely removed, but that the men will se,3

how desirable it is that they should enter into

arrangements alike beneficial to themselves, the
Company, and the community at large.

His Majesty the King of Portugal, accompanied by
his Royal Highness the Duke of Oporto, the Duke de
Terceira, Viscount Careira, and a numerous suite, at-
tended by Lord de Tabley and Col. Wylde, honoured
the establishment of Mr. C. F. Hancock, the eminent
jeweller, of :39, Bruton-street, with a visit this morning.
These distinguished personages were pleased to express
their approval of the magnificent assortment of jewellery,
plate, and works of art submitted to their inspection.
The King and Royal Duke were graciously pleased to
honour Mr. Hancock with their commands.

Her ex-Majesty the Queen of the French, accompanied
by her family and suite, passed through London, en route
from visiting the Duke and Duchess de Montpensier, at
Seville, to Claremont.
HEALTH OF THE DUKE OF DEVONSHIRE.—The Duke
of Devonshire, according to the subjoined bulletin, issued
by his grace's medical advisers, Dr. Ferguson and Mr.
Nu4sey, yesterday, was progressing towards recovery :
" The Duke of Devonshire continues to go on well."
The inquiries from the nobility and geutry were again
extremely numerous.

MUNE Y MA RKE

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK

There was a fair demand for cotton at Liverpool
yesterday ; sales 7,000 bales, including 2,000 taken
for export and on speculation. The market was
quiet and prices steady. Railway shares were quiet.
There seems to have been rather a listless week
for the Bank of England up to the 3d inst., but
this negative position may be deemed favourable on
the whole. The increase in the bullion was but
trifling, but the circulation was not materially
drawn out, although the discounts increased be-
cause the deposits pretty nearly balanced each
other. Compared with the previuus week, the
changes aro as follows :
Active circulation...

Increase

£20,540,330
80,790
12,750,169
9,300
3,180,665
Decrease
Public Deposits 2,557,654
Increase 67,710
Other Deposits
Decrease
Seven-Day and other Bills
Increase 30,675
Government Securities No alteration.
Other Securities 15,494,525
Increase
Notes unemployed 5,466,545
Decrease
There wai an alteration for the worse yesterday
afternoon in some of the rates for bills of exchange
upon the principal Continental cities. Paris, 90
days, was taken at 25 25 to 27-i- ; Amsterdam, at
11 17 to 17i ; Hamburgh, at 13 6 to 61- ; Trieste,
at 13 15 to 20.

Bullion .

Increase

Rest

A very useful bill has been brought into Parlia-
ment to permit the registration of dishonoured bills
of exchange and promissory notes in England, and
to allow execution thereon. The preamble truly
states that—

" The mode of recovering on dishonoured bills of ex-
change and promissory notes which prevails in the law of
Scotland, known as the process of summary diligence, is
found to be of beneficial operation, and it is expedient to
introduce a similar mode of recovering on such instruments
into the law of England, so far as may be consistent with
the forms of procedure of the latter."
There may be many salutary changes made in
either country by adopting the peculiar laws there
established, the bankruptcy procedure being no-
toriously inferior to our own on the other side of
the Tweed. The following is a summary of the
clauses of the new bill :—lt is to come into opera-
tion on the 24th of October next, and all bills and
notes are to be protested as usual.

"It shall be lawful for the holder of a bill of exchange
which has been noted for non-acceptance, or of a Bill of
Exchange or Promissory Note which has on the day of its
becoming due been noted for non-payment, and which Bill
of Exchange or Promissory Note is free from erasure or
alteration in any material part, except by striking out the
name or names of endorsers, to proceed under the provi-
sions of this act at any time after protest for non-accept-
ance or for non-payment and before the expiration of six
months after the date of such bill or onto becoming duo."
"It shall be lawful for her Majesty to appoint an officer
to be attached to the Court of Common Pleas, who shall
be called ' The Registrar of protested Bills of Exchange
and Promissory Notes,' and the said Registrar so appointed
shall keep a Register in the said Court of Common Pleas,
in an Office to be assigned by the Lords Commissioners of
the Treasury, for the Registration of protested Bills and
Promissory Notes as hereinafter provided ; and such Re-
gistrar may by a Writing under his hand and seal appoint
a deputy or deputies, who shall be previously approved of
by the Lord Chief Justice of the Court of Common Pleas,
and all registrations made and other Acts done by such
deputy or deputies shall have the same effect as if made
and clone by such registrar."
"A holder of dishonoured bill or note may register a
protest in the Court of Common Pleas, and obtain an order
for the payment against any of the parties to a bill or
note. Order to be endorsed with name and abode of at-
torney, or a memorandum that writ has bean served by
plaintiff in person. Attorney, on ,:errand, to declare
whether order issued by his authority, and to declare
name and abode of his client if orde ed. If order issued
without authority of attorney, proceedings to be stayed.
Order may be served in any country. Before execution, a
party served with an order may apply to the court to stay
execution. Corporations may be served through their
chief officer. Where proper grounds are' disclosed, court
may direct an issue in law or in fact. Party seeking to
stay execution must furnish security for debt and costs.
Attornies and solicitors are not exempt from the provi-
sions of this act. Execution against a debtor issued within
two inonths of filing petition, is to be null and void."
The amount of gold exported from London dur-
ing the week to Thursday last was 490 ounces, and
of silver 72,590 ounces, all to the continent.
There are no late arrivals this morning. Letters
for the Great Britain steamer will be in time if
posted this evening ; and as the Australian accounts
per Overland Mail via Southampton are expected
on Monday, it would be very convenient it the date
of sailing had been made Tuesday,'to give time for
replies. The company, however, being 'a loser by
the detention, can hardly be expected to postpone
again its day of sailing.
The English Stock Market has been very quiet
this morning, but it is extremely firm, and Consols
even opened at an advance, being done at 91i.
They are now 91g The New 31 per Cents. have
been at 92 to 1, and the 3 per Cents. at 91g to 1.
Bank Stock is firm at 205 to 206. Exchequer
Bills are par to 4s. premium.
Foreign Securities are neglected, and rather
flatter. Mexican have needed to 2341- g, and Pe-
ruvian 4i per Cents. are at 661. Sardinian Bonds
are at 85. Dutch 4 per Cents, have been 89k, and
Dutch 21 per Cents. 601.
The Railway Share market is to per cent.
better in some instances, but with very restricted
dealings. Midland are about 10s. higher, and also
Great Northern and York and Berwick. The
French lines have been nominally rather higher.
Gold Mines are heavy, Banks at fuller rates,
Land Companies lower, and Crystal Palace dearer.

BRITISH FUNDS THIS DAY.—CLOSING PRICES
( Prom the Ogcial List.

_
Business done.
Rank Stock ...... 206 5
per Cent. Reduced Annuities 9li g
3, per Cent Consols Annuities
'
New 34 per Cent. Annuities 924 2
Consols for Opening 19th July
Exchequer Bills, 24d.
1000
11500 4 p par
Small . 5 p
PRICE OF FOREIGN FUNDS THIS DAY.
frazillau Bonds, 5 per Cent. '
Ditto New, 1852, 44 per Cent 9l
Mexican 3 per Cent.
Peruvian Bonds, 44 per Cent.
Sardinian Bonds, 5 per Cent . .... ...... 85 a d
Swedish 4 per Cent............................. 86/
Iviiien.iN 11,1 Ult., ",..'Ve 0.'...‘ U. Loudon.
Dutch Exchange, 24 per Cent. 12 Gnil ..... 604
Ditto 4 per Cent. Certifieates ....~.

TWO O'CLOCK.
Consols for Openim; 19th July ... 911 a d

MINIST RI A L C MINCES.

The Duke of Newcastle retains the Secretaryship for
War, relinquishing the Colonies.
Sir George Grey accepts the Colonial office.
Lord John Russell becomes President of the Council,
from which Lord Granville retires.

Lord Granville accepts the Chancellorship of the
Duchy of Lancaster, in the room of Mr. Strutt, who
retires.

NEW WRIT FOR THE CITY OF LONDON.
ADDRESS OF LORD JOHN RUSSELL.

•
The creation of a War Minister has led to other
Ministerial changes. Lord John Russell is no longer
without office. He has become Lord President of the
Privy Council, vice Lord Granville, who, it is un-
derstood, will be Colonial Secretary, vice the Duke
of Newcastle, now Minister of War. Sir George
Grey has been mentioned as probable Colonial
Minister ; but this arrangement would not provide
for Lord Granville. The position of Mr. F. Peel may
be affected by the charges now made. Mr. Hayter
last night moved that a new writ do issue for the City
of London. The announcement caused by this notice.
coupled with the fact that the President of the Council
has generally been a peer, excited the general inquiry,
" Is Lord John Russell going to the upper house ?"
His address to the electors of the City settles that point.
"TO THE ELECTORS OF THE CITY OF LONDON.
"Gentlemen,—Her Majesty having been pleased to con-
fer upon me the office of President of the Council, my seat
in Parliament has becoMe vacant.
"In requesting you to replace me in the honourable po-
tion of one of your representatives, I cannot feel it neces-
sary toexplain to you my past conduct.
" There is no vote which I have given which I have not
give openly in the face of the world—no speech which I
have made which has not, at least in its substance, been re-
peated to the public by a watchful and intelligent press.
" Her Majesty's Ministers are engaged in the conduct of
a great struggle. A mighty military power seeks to overawe
Europe, and pretends to set aside the verdict of the civi-
lisei world. We have stood against this encroachment,
and hope to check its further pro-ress.
" This contest has absorbed the attention of the people
of this country. We all desire a solid, durable, and hon-
ourable peace.
" Impressed with the necessity of carrying on the war
till such a peace is established, I solicit the honour of
your support, and the continuance of that confidence which
it is my pride to haveenjoyed fur a period of thirteen years.
.oitbetycshseEnLtLs.er-
v—al,n,theahveeshtithine
.hroiancoeu,r
jtuonebe9,, gentlemen,lBsl.” your

ELECTION FOR MEMBER FOR THE CITY OF LONDON.
PROCLAMATION AT GUILDHALL THIS DAY.. COBRI.
'aerable surprisp was manifested this morning in tne
neighbourhood of Guildhall in consequence of it hav-
ing been rumoured that there was a vacancy in the re-
presentation of the city of London, few being aware
that one had occurred through Lord John Russell's sc.
cepance of the office of the Lord President of the
Council. At ten o'clock, in conformity with a writ
from the Speaker of the House of Commons, directing
the Sheriff of Lonhon to proceed to the election of a
representative of the city of London, in the room of the
Right Hon. John Rtpsell, commonly called Lord John
Russell, the Sheriffs, Mr. Alderman aid Sheriff Wbe.
and Mr. Sheriff Wallis. accompanied by Mr. Seco:Idol.
Putter, caused proclamation to be made in Gui'dhall,
and fixed Wednesday, the 14th inst., at one for two
o'clock. for the election to take place.