The Sun.
London, England, 1825-12-16 00:00:00

"gitimately bprn, is, by the English law, a.panper ;
and next, the whole population of labourers and
:artizans of England is at present in a state of
'pauperism. This is news indeed. But the Etoile
favours us not only with the fact, but the cause
—which is the spoliation of the monasteries by
Henry VIII., at the epoch of the " so-called
Reformation." Now there is an extreme kindness,
, as well as fairness, in pointing out the cause of the
evil—for then we must instantly see the remedy,
which is to return to the status quo—or, in other
words, to restore the Abbots, the monks, and the
monasteries, to the plenitude of their wealth and
power—and charity—receive a Legate from the
Holy Father—and open the archiepiscopal see
of Canterbury to an Italian Cardinal or a French
Jesuit. The second piece of news. is not so im-
portant, but it is infinitely more comical and cu-
rious. Does the reader know how my Lord Chan-
cellor has been recently employed ?—A hundred
to one he does not. Be it known, then, s that a
feud has arisen between the co-proprietors of Co-
vent-Garden Theatre, who, to render the feud
more embarrassing, are equally divided—one
half in support of Shakspeare, the other
for the rival genius of Harlequin Mazurier.—
The votes being equal, and the public deprived
for the time both of Shakspeare and M. Mazurier
—a state of things not to be endured--a step was
taken suitably to the gravity of the circumstances
—viz. calling on the Lord Chancellor to give his
casting voice. His Lordship, of course, did not
decide without due deliberation a question so
important ; but with his usual regard to the inte-
rest of the parties, considering that they were
deprived of both Shakspeare and M. Mazurier,
he made an interlocutory order that they might
perform in the mean time an interlude, with
which he furnished them, intitled " the Chancel-
lor's Farce !" which it may be presumed is at pre-
sent in rehearsal at Covent-garden. This is not all.
His Lordship favoured them with his advice, with
his usual modesty and good nature. He recom-
mended a compromise. " I do not," said his
Lordship, " consider myself a perfect judge of
operas and ballets, singers and dancers, though
all the London, theatres have come under my
management—except the Italian Opera ! ! ! (we
quote from the Etoile.) But I know this, that
suits in Chancery have always proved mortal to
theatrical concerns ; witness Sir William Grant,
the Manager of the English Opera-house, who
could extricate himself at last only by selling
his theatre!!!" Sir W. Grant must have ma-
naged the English Opera-house very cunningly
to have kept the secret so long—but these things
are found out at last. It is obvious that he d

rected the menus pluhirs wore discreetly than
M. le Duc de Rochefoucault, or the conflicting
pretensions of rival Opera Queens would have
brought hint before the public long since.

[BRITISH PRESS.I
To that portion of the public (and we should
apprehend that it is a very large and important
one) which has duly appreciated the firmness and
liberality of the London Merchants and Bankers
In all periods of great public peril, whether of a
financial or political description, we need scarcely
state that the highly respectable Meeting of
Wednesday at the Mansion-house, comprising as
it did men of the first consideration in the City,
held for the express purpose of checking the wild
and disastrous panic which has afflicted the mer-
cantile world in a degree for many weeks, but
which, during the last seven days, has threatened
destruction to the most opulent establishments,
was attended with the best possible effect. It
has already checked the fears of the timid, and
blighted the hopes of the mischievous. This
latter class was emphatically compared, by au
eminent Banker, yesterday morning, to a snake
gnawing a file : for their efforts, even with the
Times Journalist sounding the trumpet of alarm
at their head, have been ineffectual in preventing
the restoration of confidence ; and a bitter disap-
pointment was experienced by them at the an-
nouncement and result of the public meeting
which has produced such excellent effects. In
the present instance, it probably operated more
powerfully than any previous meeting ever had
the opportunity of doing ; because this assembly,
representing so large a share of the wealth, inte-
grity, and respectability of the City, had not to
contend against ,a panic arising from external
circumstances, when all that could be done was
to endeavour to strengthen confidence by recom-
mendations of patience and forbearance, as was
the case in 1810, and other periods during the
war ; but it had to meet and rebut an alarm that
arose out of circumstances that were compara-
tively, at least, under the controul of the leading
Bankers and Merchants of the City ; for, as Mr.
'l'. Wilson truly observed, the embarrassments
were caused, in a great measure, by banking and
other establishments holding securities to an
enormous amount, that were not immediately
convertible into cash. This was readily as-
sented to, and a declaration of confidence by
the principal Houses of the City 'was consi-
dered all that was necessary to allay the
ferment; and the altered appearance of affairs
on the Royal Exchange and Stock Exchanges
showed how accurate was the prediction ;
for confidence appeared restored yesterday in a
manner that the most sanguine: could scarcely
have anticipated. The business in the Consols
Market was by no means so heavy as it has been
for several days past, and it was conducted with
a degree of regularity, or rather an absence from
agitation, that has not recently been experienced
in the Stock Markets. Consols opened at 8214 ;
but the failure of a very respectable broker's
firm, and the report of that of one or two mer-
cantile establishments, had the effect of depress..
log them 84, but a reaction afterwards took place,
and they left off at 4. The Reduced Annuities
were done at 794, 80, 7956, 8014.—Exchequer
Bills were 30s. 28s. dis.—The settlement in the
Foreign Market was the only business attended
to amongst the brokers and jobbers there. With
the exception of the house we have alluded to
above, no defaulter was declared, and the ba-
lances were not heavy. The following prices
were reported :—Spanish Bonds, 131 ; Greek
ditto, 14, 16 ; Danish, 58, 9 ; Colombian ditto,
58+, 9; Mexican ditto, 601, 11 ; Brazilian
Scrip, 17, 15, dis. ; and Guatemala ditto; 15,13,

dis. Money was quite plentiful, and South Ame-
rican Stocks so scarce, that the Bears of them
were obliged to borrow them to deliyer, particu-
larly Colombian Bonds. The Bank has been
extremely liberal in doing all they can to alle-
viate the distress, by lending money on Stock,
Exchequer Bills, and even Bills of Exchange.—
This conduct, in addition to the effects of the
meeting on Wednesday, prevented the bankers
from experiencing any inconvenience yesterday.
Everett's house is expected to resume its pay-
ments, as is also the establishment of Wentworth
and Chaloner. The stoppage of the banking
house of Sir -Walter Stirling, in the Strand, caused
but little sensation east of Temple-bar. We trust
we may now congratulate the Public upon this
frightful consternation having for the most part
passed away, and that business in a few days
will in some degree resume its wonted serenity,
although the effects of it must be felt for some
time.

EN EW TIMES.]
In our report of the proceedings of the Ship-
owners' Society, will be found a short, but most
important letter from Mr. Manning—( See a more
copious report in THE SUM of this day)—in which
he states, that every moment of his time for the
last few days has been devoted, together with
his colleagues of the bank direction, in endea-
vouring to devise means to dispel the panic which
has pervaded the mercantile world. He adds what
must rejoice the heart of every true friend of his
country, that the panic is likely soon to subside,
and that the accounts from the country re.
ceived yesterday morning were highly satis-
factory. On one point we cannot agree with Mr.
Manning. He describes the panic as " terrible
and unaccountable." Terrible it certainly was ;
the oldest Merchant living remembers nothing
like the failure of 60 many London Bankers of
the first eminence in one week ; but unaccount-
able it as certainly is not, for it is most plainly
and distinctly to be traced to a series of News-
paper articles, beginning with the fabricated
account of a conversation between the Chan-
cellor of the Exchequer and the Governor
of the Bank, The Journal, in which those
articles appeared, has long sate like a night-
mare on the British public. Patronised for
the patriotic exertions which were made in
it during the latter part of the war, it has
converted that patronage, during the peace,
into an engine of tyranny so despotic that its vic-]
tims hardly dare to complain. Its insolence is
only equalled by its ignorance, and both by
its malignity ; and of these qualities united ,
it never exhibited a more odious specimen that
in its Leading Article of yesterday, which
we should not be doing our duty if we did
not brand with scorn and infamy. On Wed-
nesday, at a moment when alarm pervaded
the whole City of London, several honourable
individuals, forgetting all distinction of party iu
the pursuit of public good, stood forward to re-
vive confidence, and thereby establish credit. In
this good work Mr. Wilson was joined with Mr.
Alderman Wood, and Mr. Baring with Mr. Ir-
ving; and great praise was due to the Lord
Mayor for his promptitude and zeal in convening
a Meeting for so excellent a purpose. What says
the Journal of envy, hatred, and malice,
about this Meeting ? It says—" The bankers
of real solid credit are offended at it : they
want no such meeting ; they consider it an un-
necessary interference in their affairs." In
what words can we characterize this auda-
cious assertion ? It imputes—falsely imputes--
to the London Bankers not only a total blind-
ness to their own interest, but an utter destitu-
tion of feeling for the distress of others. It is
well observed by an Evening Contemporary, that
a general want of confidence is an evil to the v% hole
of the community ; it is an evil to the merchants
and traders themselves, as holders of goods which
they want to sell,as parties to contracts which they
wish to fulfil, and as able to do neither the one
nor the other, if the ordinary course of pecuniary
teansactions be stopped by any panic. And again
be.rorcibly asks, whet would be the effect if a
country that carried on its whole business on
aetlit were to be deprived of credit ? Trade
might, find new channels, but what would be the
consequence in the mean time ? A total suspen-
sion* of manufactures and of all trades, a ruin
in which men of the best hopes and the most
solid means would be involved—and for the
workirrg people riots and starvation. With these
consequences before their eyes, it is impossible
that the. bankers, or indeed any other persons of
common sense, or of common feeling, should do
otherwise than rejoice at a meeting, the obvious
effect of which must be to remove unfounded ap-
prehensions, and give a tone of firmness to the
public 'mind.

[MORNING POST.)
Sincapore Chronicles, to the 10th June, reach-
ed us yesterday. They inform us that dispatches
had been received by the Batavian Government
from Macassar, via Sourabaya, announcing the
taking of the capital of Boni, by the expedition
under the command of Major-General Van Geea.
On the 27th February, the General embarked his
troops at Macassar, accompanied by the King of
Gooh, with 400 men; and having made sail on the
28th, the squadron arrived the following day in
Bonthaim Roads, where they learned that the
enemy were daily reinforcing themselves close in
the neighbourhood of Boehcamba, and had
erected batteries within pistol shot of the fort,
the garrison of which, weakened by sickness,
had been unable to prevent their approaches
Upon this the General disembarked, and took
the -positions of Brankeke and Battoo Belli, oc-
cupied by the enemy, in order to relieve the
garrison. The'detachment arrived at Boehcamba
on the sth without opposition, and on the 9th
'the troops were re-embarked, and the squadron
made sail for the harbour of Boni, where,
after having touched at Singai, and destroyed
the enemy's battery, they arrived on the 29th,
and adchored close to Badjoa. It was found that
the enemy had *e-fe,cted batteries along the beach,
as well as a string stockade near Berobo. • A
landing place having, however, been selected, a
detachment of 150 marched behind Brobo, from
which The enemy immediately fled, and the Dutch

troops took possession, the Prince of Badjoa
having been wounded and, carried into Boni.—
The loss of the enemy was stated at about four
hundred killed, and that of the Dutch at about
twenty. On the 30th the General reconnoitred
towards Boni, at which place, the country being
entirely deserted, he arrived on the same day.
The place had been evacuated by the natives a
short time prior to the entry of the troops, and it
was believed the Queen and Princesses had fled
to Soepa or Manipi. The unhealthiness of the
climate had, however, been strongly felt by the
Dutch troops, upwards of 300 of whom were sick.

[MORNING CHRONICLE.]
In an article on Wednesday, we observed that
" Ministers had misconducted themselves, in
failing to avail themselves of the consent of the
bank to restrict its monopoly ; and that they are
consequently chargeable with much of the cala-
mity resulting from having left banking on its
present insecure footink." On this The Courier
made the following observations :
" Now, how stands the fact ? Our readers need only refer
to the Parliamentary Debates, and other Public Documents of
the day, and they will find that ministers proposed to the Bank,
in 1822, to give up their monopoly immediately, as to all parts
of the kingdom, sixty-five miles distant from London ; and that
the Bank acceded to the proposal, requiring only, as the price
of it, that their qualified monopoly with respect to London and
its neighbourhood should be extended for ten years longer.—
This arrangement was completed, as far as respected the Go-
vernment and the Bank, and, was defeated by the clamours of
some of the Country Bankers, and by the strong reprobation
of it by Mr. Grenfell, Mr. Ricardo, and others. The Govern.
meat, it will be recollected, carried a similar measure with re-
spect to Ireland ; and it is certainly not their fault that the mo-
nopoly of the Bank of England was not so contracted as to do
away much of the mischief which is supposed by many to arise
from it. It is material, likewise, to add, that the Government
proposed 'another important measure for putting the Country
Banks under certain regulations, and requiring securities as the
foundation of their issues. The measure was likewise de-
feated in Parliament by the clamour of the Country Bankers."
It is odd enough to hear Ministers justified for
not doing what they themselves thought ought to
have been done, that some of the Country Bankers,
and Mr. Grenfell and Mr. Ricardo, thought dif-
ferently.—BUt is it true that Mr. Ricardo and
Mr. Grenfell diiii*oved of placing the Country
Bankion a more'4oo foundation ? On turning
to the Parliamentary Debates, we find indeed
that Mr. Ricardo, on the occasion alluded to,
did say that " he should oppose, to the utmost,
the renewal of the Bank Charter, hecause he was
Satisfied that every farthing made -by the Bank
ought to belong to the public ;" ;that 46 even if a
paper currency were waisted, Ministers could
Accomplish the object more advantageously to
the public, without than with the assistance of
the Bank of England and that Mr. Grenfell,
in like manner, said, " whenever the' measure
for renewing the Charter came before the
House, he should feel it his duty to oppose it.
Indeed, after the experience which the,couretry
had had of the conduct of the Bank, during the
last twenty years—after their immense pro-
fits, amounting in 25 years (after the payment
of seven per cent. dividend), to more than
25,000,0001.—after their tyrannous conduct to-
, wards Government and towards the public, ex-
emplified by their letters to Committees of the
House of Commons in 1819—after these warn-
ings, it was amazing that any 'Ministers could
be so unwise upon any terms as to propose a
renewal of the Bank Charter." It appears,
then, that these two Members very justly detested
the Bank Monopoly, and objected to its exten-
sion. They did not object to the removal of the
restriction, though of course the country bankers
disliked it, because the removal of the restriction
would lead, as a matter of course, to the sub-
stitution of solid establishments to most of
those which now exist. But there can be no
question, that though the abolition of the mono-
poly altogether would be a still greater good, the
abolition of it within all but sixty-five miles
round London would yet be extremely beneficial,
and the question was reduced to one of terms.—
The two distinguished members (for the opinion
of the country bankers in such a case ought to
have been treated with contempt) thought the
terms of a continuation of the monopoly, for any
period, too high; it would appear that Ministers
thought so too, from their making no defence ;
however, if they thooght otherwise, they were
bound to persist in the attempt; if they were sa-
tisfied that they were about to purchase the con-
cession at too high a price, then they ought to
have insisted on a different arrangement. But
because the Country Bankers were clamorous
and wished to issue one pound notes, Govern-
ment, though it had proposed, could not insist
on putting them under proper regulations !
This, to be sure, is a very pretty defence. If
Banking were perfectly free, we should say,
allow notes to be issued for any sum you please,
but if you will continue the restrictions, and
deprive the country of the benefit of establish-
ments on a secure basis, you ought not to expose
the people to inundations of one pound notes,
issued by all and sundry, who choose to call
themselves Bankers. The defence is altogether
paltry. We have no doubt that Ministers
were bullied by the Country Bankers and the
country Gentlemen ; and they found their ac-
count in sacrificing the interests of the country to
their own convenience. But when people do
mean things, they should he silent under accusa-
tion, if they do not mean to cry out their peccuvi.

WELL-TRAINED H0.G3.-The market-place at
St. Albans was completely crowded last market
day in consequence of an eccentric old farmer,
who resides a few miles off, entering it in a small
car drawn by four hogs, at a brisk trot, amidst
the acclamation of the people, which pace they
kept up a few times round the area of the mar-
ket-place, and then were driven to the Wool
Pack-yard, and after being unharnessed, were
regaled with a trough full of beans and wash. A
gentleman present offered 501. for the concern as
it stood, and was indignantly refused. In about
two hours they were reharnessed the farmer
againmounted the, car, and proceeded homeward
amidst the plaudits of the- multitude, for his in.
genuity in having in six months thus trained so
uncommon an anjrna.l for drawing.