The Sun.
London, England, 1838-10-26 00:00:00

THE SUN, LONDON, FRIDAY, OCTOBER 26, 1838.

they will yield a remunerating return, but a long line of
railway can only be executed at the public expense, for
individual capitalists will naturally confine their specula-
tions to the paying districts. Another view to take of the
subject, in reference to the necessity of Government control
over railroads is this—that these lines of intercourse will ul-
timately become the highways of the country, and in that
case it would be in the highest degree impolitic to entrust
their construction to private speculation. At the same time,
that I make these observations, I would not be understood
to advocate any n.easure that would injure private indi-
viduals, without giving them an adequate recompense. I
know that no public improvement can be effected, without
in some way or other injuring individuals, but I have al-
ways maintained, whether I happened to be a Grand
Juror, or a Record Juror, that as far as money could
rectify the damage, recompense should be given ; such
are my feelings in reference to the 3/4:iikenny Railroad
Shareholders—though we will not consent to relinquish a
' great public object for their account, 1 conceive that they
ought not to suffer in the spirited undertaking in which
they have embarked.—(Cheers.)
Mr. RICIIARD DowDEN said that it devolved upon him
to propose for the adoption of the meeting the Petition to
Parliament, founded upon the resolutions which had al-
ready been passed.—(Mr. Dowden here read the docu-
ment.) The Petition involved the general question, that
with which the meeting ought in the main to meddle.—
(Hear, hear.) The question had assumed a national cha-
racter. The objects to be created by the contemplated
railway were national ; and it was beyond all doubt that the
national resources of the country were prolific beyond cal_
culation ; hut they were loeked up ; they were undeveloped ;
the people were without emp:oyment, Famine stalked
through the land every fourth or fifth year ; and in place
of Ireland being, upon an equality with England, she was
rather an object of her charity than of her comp.eition.—
( Hear.) The Government were called upon rot to aban-
don to chance the undertaking reported upon by their own
Commissioners. The public looked for such a line of pro-
ceeding upon their part, and if the Government would
consult the best interests of the nation they would not he-
sitate a moment in causing the necessary advances to be
made.—(Hear, hear.) Mr. DArelen then submitted the
petition, and moved that it be confided for presentation to
the City representatives.

.
Mr. JAMES LANE had great ple.isure in seconding the
motion of his friend, Mr. Dowden.

Mr. JAMES DALY, before the question was put upon
the resolution, be4ged to say a few words upon one
passage in the petition, which, he regretted to say, would
entirely endanger the prospects of the great railroad now
contemplated, unless Government became the sole prodrie-
tors. In his mind, the public money of the counties aid
cities through which the trunk line would run could not be
better appropriated than in advancing such an undertaking—
the money to be borrowed from the Government on the se-
curity of the several localities ;. nor need they have a better
plan of levying the money than that pointed out under the
Poor Law Act—namely, half on the landlord, and half on
the occupying tenant. Nothing was more mischievous than
having the public roads vested in the hands of private indi-
viduals ; and he was anxious, in order to secure an identi-
fication upon the part of the Government, that the plan
thrown out by him might be entertained.
Mr. CRAWFORD looked upon the plan suggested by Mr.
Daly as full of embarrassment. It had been so regarded
by the Committee who had prepared the resolutioni and
petition. It were better to leave the whole matter in the
hands of the Government.

such
e bl Daly,
rd r
nsa es
fs seeing
et
onhtutahitlaattnadbdtahlyese(ba
yarcntace,ridvr erldvdyioffisuipcindeu ttkmiheeeasrmr
ecerhyh,gaeio:ribmjhpe
icorstef
he would address himself to the observations made by Mr.
ev
who
Du
ded
hcon-
tind,
weimnerde i m
—namely, the accomplishment of a main trunk of rail-
way through the land, by means of the public funds legiti-
mately applicable to such undertaking.—( Hear, hear.) The
proposition of resorting to Grand Jury assessment, either to
raise or to borrow the money necessary for such purposes,
never could succeed ; nor ought to be resorted to.—( Hear.)
He, (Mr. H.) had never joined in the unmeaning cry for
the introduction of capital into Ireland for any purpose of
carrying on the ord;nary purposes and objects of commerce
or manufactures. He saw in the introduction of foreign
capital for such purposes but the machinery by which the
fair and natural profits of the trading community were ab-
stracted from those who ought to possess them—lrishmen,
and transferred to strangers, to be eventually applied to
ulterior purposes in which his country had no interest or
concern.—(Cheers.) But the present was a case essen-
tially differing from that to which he had been referring.
Here the capital would be so expended and fixed o I the
face of the land, that to all future time it would be
producing benefit to the people ; and on this account
he looked at foreign capital as the most valuable adjunct-to
those general views entertained by his friends to-d,ty, of
developing the internal sources of wealth and prosperity'
with which the Lind was teeming,—(Hear, hear.) Capital
invested in this way in Ireland was in its effects very diffe-
rent from that which was called English capital invested in
Banking concerns and Insurance agencies. The former,
under the semblance of investing English capital, had, in
fact, abstracted from the country the native capital, and
swept after it those profits which were consequent on Bank-
ing speculations, aid, in place of benefiting the country. did
most materially tend to its impoverishment—so also with
Insurance companies, carried on with English capital, as it
was termed ; but which, in fact, consisted only of fifty
pounds per annum, the rent of an office, by which thou-
sands following thousands were drawn away front us.—
(Loud cheers.) The distinction was thus obvious, and here
he would encourage even foreign capital if it could be ob
tained. But there was no need to seek for foreign capital.
The Committee, to-day, sought for the application of a ca-
pital, the common property of our common country.
The resolution and petition were then put from the chair,
and carried.
Mr. J. D. CROKER—Mr. Mayor, as a country gentle-
man and landed proprietor, I propose the next resolution—
" That this meeting earnestly call upon' the Proprietors,
Agriculturists, and Traders interested in this great national
object, to co-operate by meetings of Counties, Cities, and
Towns, in aid of their proceedings, and that the Noblemen
and Members of Parliament connected with the South of
Ireland be requested also to give their support to the memo.
rial, adopted this day."
I heartily concur in the petition and resolutions, and shall
endeavour to get a meeting in Madovv ; and as the line
will be across the Blackwater, through the Clyda
where my property is situate, I shall gladly give my portion
without seeking damages, and I am sure many other landed
proprietors will do the same.—(Cheers.)
Mr. J. E. M`CAramr, Rathduane, seconded the reso-
lution.

Sir. T. DEANE—A resolution has just been put into my
hand of such a nature that I could not but come forward
and propose it. It is—
" That
and laborioushatthism
meeting
assiduitygbolds displayedinjus in the Report o her
just estimation thetalenti
in-
Majesty's Commissioners, not only as it refers to a syßailway communication, but as combining a collection of
statistical facts and details of the highest value and importance
regarding the general condition of the country; and that his
Worship the Mayor be requested to convey these our senti-
ments to Thomas Drummond, Esq., the senior Commissioner,
to be by him communicated to the Board."
Mr. CHARLES CONNELL, J.P., seconded the resolution.
Mr. Qum, having been called upon by the meeting,
then rose and said—Mr. Mayor and Gentlemen, I must
premise by saying that, in my opinion, from what I know of
Mr. Drummond, and of the other gentlemen who have co-
operated with him in the business of this Report, that never
were thanks better deserved than those to which you give
expression in this resolution. Well do I know the labour
which they have devoted to the arduous duty entrusted to
them by the Crown, the results of which we have in the
book and the map now before me. Ido not stand here as a
representative of the Government. Indeed the Govern-
ment could have no representative upon this subject, until
they bh o aid see what the country was disposed to do with
reference to this Report. When they find the great land-
owners coming forward as Mr. Dillon Croker has done this
day, stating their willingness to give those portions of their
property through which the proposed lines of railway are
to pass, to the great enterprise in question. I have no doubt
at all that Government will act without delay upon the re-
commendations of the Commissioners.

Sr W. BECIIEIt—I have conversed with a great number
of country gentlemen, all of whom are anxious for railrodds,
and I am sure that there is not one of them who would not
be inclined to make a bargain to his own personal advan-
tage, and give a liberal invita•ion to the Government to
pass through his ground.—(Cheers.) I must say, in the
same candour, that I shall be extremely happy to join in
the general expression, as my desire is that something should
be done for the good of the country, and though I deny
that good can arise on some disputed questions from agita-
tion, yet on this general question I am an " agitator."—
(Laughter and cheering.)
Mr. QUINN—The Duke of Leinster and several other
noblemen and gentlemen are preparing an address to the
Crown, 'ailing on the Government to carry on the rail-
road.—(Cheers.) I believe that address will be soon sent
throughout the country, and then the landowners will have
an opportunity of pledging themselves to do that which Sir
W. Wrixon Becher• and Mr. Croker have, with so much
honour to themselves, expressed their willin3ness to do.
Mr. S. LANG—I think we are deeply indebted for the
communication which the gentleman has niade,—( Hear.)
It amounts to this, that if the landed gentry of the country
do their duty, the Government will make the roads.—
(Hear, hear.)
Mr. MSAGHER—I have received a number of letters

from country gentlemen, among the rest from Lord Lis-
towel], evincing their anxiety to aid the project.--(Hear.)
Mr. DowDEN—I am happy that we have arrived with
such unanimity to the last resolution. If the Government
determines on establishing a railroad, it may be necessary
that some persons be appointed to communicate on the
part of the public with the Commisioners, with the view of
giving and procuring information. I therefore tske leave
to propose—
" That a Committee of twenty-one be appointed by this
meeting to be in communication with the Government Com-
missioners, and to state to them such local information on the
details of the proposed Railroad, as may seem to them indis-
pensable."
I propose that the following Gentlemen form a portion of
the Committee :—The Mayor, Mr. Daniel Callaghan,M.P.,
Mr. Beamish, M.P., Sir William Chatterton, Bart., Sir
Thomas Deane, Knt., Alderman Spearing, Alderman Bag-
nell, Messrs. William Crawford, Samuel Lane, Topp,
James Lane, Joseph Hayes, William Fagan, Michael Ro-
berts, Thomas P. Boland, Paul M'Swiney, James Daly,
Charles Connell, John APNatnara, Daniel Meagher, M. H.
Conway, &c. &c.
The resolution was put from the Chair and passed, with
permission to the country gentlemen to attend the meetings
of the Committee.

His Worship then left the Chair, which was taken by Sir
W. Becher ; when Mr. Meagher said be had the honour
of proposing the thanks of the meeting to the Mayor for
his d;gnified conduct in the Chair, and his anxiety to pro-
mote the objects of the meeting.
The meeting then separated.

MONEY AND CITY NEWS.

(FROM THE MORNING PAPERS OF THIS DAT.)

TIM ES.—A very general impression prevails in the
Money-market that sonic measures are in contemplation in
the Bank parlour for creating greater facilities in regard to
money. Some notice on the subject was fully expected
after the weekly meeting held to-day, but it has not yet
appeared, and some persons are inclined to think that a
difference of opinion has arisen in the matter among the
Directors. As far as can be collected, the intention seems
to have been to make permanent that arrangement by
Which accommodation is at present given on the deposit of
bills of exchange, from the shutting of the books at the
Bank to the payment of the dividends, and which is pro-
posed to be done at the rate of 3 or 31 per cent. No
one can doubt, who understands the question, that
any attempt at this moment to increase the issues of
paper on the part of the Bank by any other
means than those created by the natural demands of
trade must have an injurious effect, and the affairs
of the Bank have been conducted with so much
prudence since the crisis, that it is difficult to imagine,
but for the confidence with which these statem-nts are
publicly n ade, that any such intention exists. The coun-
try circulation is of itself, notwithstanding the reduction
that has taken place since the last return, more than it
ought to be, so that discreet bankers in the manufacturing
districts are beginning to draw in their loans ; and to take
a contrary course by the Bank would be to add fuel to the
tire. which otherwise would be quietly extingui%hed.
The reports relative to the proceedings at the weekly
Board at the Bank of England, held to-day, had the effect
of slightly improving the Funds. Consols left off at 938 to
4 for Money and the Account. Bank Stock was 2031 to
41 ; India Stock, 2611 to 28 ; Exchequer Bills, 645. to
665. premium.

There was a little speculation in Spanish Bonds, arising
out of some proceedings taken by the Committee of Bond-
holders in Paris, against funds supposed to be in the hands
of the house of Rothschild, then belonging to the Spanish
Government. The bonds, however were little affected by
the report ; the Active, with the May coupons, left off at
l 7 to ; Portuguese 5 per Cents, 31i to ;,-it ; the 3 per
Cents, 201 to 4 ; Brazilian, 78 to / ; Mexican, 21 to 2 ;
Colombian, 231 to 1 ; Dutch 5 per Cents, 100?,- ; the
2i per Cents, 534 to H.
The Share Market was dull. Great Western 12/ to
131 ; London and Birmingham 84 to 5 ; North Midland,
2to 3 ; Southampton New, 21 to 2 premium. Brighton
declined to 2a to ; Blackwall were I ; Greenwich, 34
to 24 discount. _ _

Along report had been published by the Bank Commis.
sioners touching the situation of the affairs of the Missis-
sippi and Alabama Railroad Company, carrying on the
business also of bankers at Brandon, the failure of which,
with peculiar circumstances attending it, was formerly al
luded to. In this document some extraordinary disclosures
are made, which serve to throw more light still on the way
in which banking business has been got up and managed in
the United States. Assuming that all the bills running and
receivab!e, which amounted to upwards of 5,700,000 dol-
lars, were or would be paid—a consummation not very pro-
bable—there would seem to be a surplus, inclusive of the
capital stock taken as liabilities, of 450,000 dollars. But,
besides the bills on hand, a considerable amount of the
reniutong part of the resources, which together were about
3,000,000 dollars, was of quite as questionable a value as
the bills " rec4ivable." It consisted, in fact, of balances
under the heads of " Stock mortgages, due f.om banks,
cotton account, advances on cotton receipts,cotton agencies,
railroad expenditure," and carious other items, which may
he considered more available, although the sunis are trivial.
It is stated that the total quantity of cotton shipped on
account of the Bank might be calculated at 60,000 bales,
and the balance left on hand 5,750. At the date of the
Commissioners' Report, in August last, no account of sales
had been received, but the Bank had been advised of
sales of 6,400 bales, at prices which would produce nearly
50 dols. per bale, being not far from the averap rate of
purchase. The paper circulation of the Brandon Bank
amounted to more than 4,850,000 dols. upon a specie
basis of just 9,015 dols. at the time of stoppage.
So preposterous a disproportion ought surely to open
the eyes of the American people to the vices
inherent in any paper s)stem where no respon-
sibility existed for issues. Here was a Bank
speculating and able to speculate, had the capital
stock been paid up, to an indefinite extent, in cottons and
provisions. Even as it was, speculation might have gone on
for years, and a monopoly of the most grinding description
been imposed both on the trading and producing com-
munity, hut for the resumption of specie payments in New
York and elsewhere, by which the domestic exchanges were
so raised against the non-resuming Banks as seriously to
impair their credit. Such was the case with the Brandon
Bank. Resumption was out of the question, and with the
stoppage of credit a stop was put to its illimitable paper
issues, and at last, having no specie, or funds convertible
into specie, it was fortunately brought to a stand-still in
its mischievous career.

CHRONICLE.—Affairs at the Stock Exchange con-
tinue to look better. It was generally expected that a
notice would have been issued at the Bank to-day, after
the meeting of the Directors, in reference to a reduction
in the rate of discount charged at that institution, but
nothing of the kind was made known, and Consols conse-
quently remain the same as 3esterday.
Attention is again becoming much directed in the city
to the distressing state of the silk-weavers of Spitalfields.
In the course of the last winter these unfortunate people,
to the number of nearly 20,000 souls, were almost all un-
employed, and lived upon charity alone. This miserable
condition of so great a number of the metropolitan
population, it is feared, will be greatly increased as
the winter approaches ; for not only is the silk manu-
facture becoming so much depressed that hundreds of the
weavers are daily thrown out of employment, but this
falling off in the business is commencing at a season
when the necessaries of life are already very high and
expected to be still considerably higher in the course of
the winter months. If formerly the Spitalfields weavers
have been almost a continual burden to the poor-rates
and charities of the metropolis, there is little doubt that the
expense of supporting them will be now very greatly in-
creased, and that also at a time when the rate-payers are
themselves amidst all the difficulties of increased expenses
for housekeeping, and a great reduction in the profits of
general trade. Such a spectacle as that of twenty thou-
sand silk-weavers in a state of continual destitution is
thought in the city to be anything but a confirmation of the
opinion of some of the leading politicians, that the Corn-
laws " work well ;" the Corn-laws alone being perfectly
well known to be the only reason why England does not
take to itself the whole of the silk manufactures of the world.
A preliminary meeting. we are informed, took place at
the City of London Tavern on Tuesday, to take into con-
sideration the necessity of colonizing the Filkland Islands,
and is said to have been well attended. A letter from Lord
Glenelg was read, stating on wi!at terms the Government
would grant a charter to enable a Company to carry the
undertaking into effect.

POST.—There has bet n an impression in the public
mind that the Bank Direction
interest id contemplated a re-
duction in the rate of ; but although no notice to
that effect has been officially issued from the Bank this
day, it is pretty well undr-.‘tood that the Bank Direction
,
purpose to continue the is;.,, Jf interest upon discounts at
34 per cent., and upon loans at 4 per cent, until the opening
Consols
of in January next. Constls in consequence hate
not closed so firmly as they opened in the morning, though
the political aspects of the country may have something to
do with this heaviness.

H ERA LD.—lt has been stated this day in some of the
leading mercantile circles, by parties who are likely to be
well informed upon the subject, that the blockade of Buenos
Ayres by the French has been raised, and it is conse-
quently anticipated that the raising of the blockade of
Mexico, and the other dependent ports, will immediately
follow, as its continuance would evidently tend to bring the
Governments of France and the United States into se-
rious collision. The final settlement of this dispute will

of course, have a very beneficial effect upon the commerce I
between the Mexican and Argentine States and Europe.'
as well al that of the United States. It is understood
that merchint versels have been chartered for those ports
in consequence.
Money continues very easy upon the Stock Exchange,
and some large sums have been advanced upon Consols and
other Securities from day to day at 2 per cent. The Go-
vernment Commissioners have laid out about 20,0001. ster-
ling to-day, about one-half in the Threc-and-a-Half per
Cent. Reduced, and the other moiety in the fixed Annuities
on account of the Savings 13,inks.
Shares have been but in little request, and there has not
been much alteration in the quotations.

THE BISHOPS OF DURHAM AND

NORWICH.

TO THE EDITOR OF THE SUN.

Srtt,—l beg to draw the attention of your readers to a
subject which the Tory Press has lately been wearing
threadbare, and seems not yet disposed to cast off, in its
eagerness to patch up the rents and tatters of bigotry. I
allude to the case which has been got up against the Bishops
of Durham and Norwich. 0 scelus incrcthbile, el prceter
hoc ?MUM in vita inaziditunt !" These " mitred liber-
tines," we have been told, " have inflicted upon public de-
cency an insolent and unbearable outrage," &c.
Your readers are probably aware that their crime has
been subscription to a proposed publication of Sermons by
Mr. Turner, an Unitarian minister of Newcastle. The
heinousness of the offence is not very palpable to men who
both claim and allow free agency in matters of religion,
where no direct injury can result from it to society. To
such men the mere naked charge is nugatory enough. Nor
would the simple act of subscribing to a volume of Ser-
mons, were they disposed to he inquisitorial, amount in
their minds to a pledge of indiscriminate approval of all
the opinions that might happen to be contained in them.
But in this case there are circumstances of a justifying ten-
dency to which little attention has been paid. Mr. Turner,
to my knowledge, is a veteran of fifty years' standing in the
successful service of science and humanity,-: and has contri-
buted eminently to the intellectual at least, if not moral im-
Dovement of a widely extended district of the Bishop of
Durham's diocese. Was the meed, when solicited, of the
Diocesan's approbation of such distinguished merits to be
withheld from considerations of theological controversy ?
Is not the tree to be judged of by the fruit? and can a tree
which has brought forth so much good fruit be indeed very
corrupt, and fit only to be hewn down by the ecclesiastical
axe, and cast into the expurgatory fire ? Abstractedly of
Mr. Turner's merits, the character of Socinus himself', the
reputed founder of the Unitarian sect, is a refutation of the
prejudice against their creed, which is expressed in that
courteous description, " pestilent heresy, and soul-destroying
error." According to the Ecclesiastical historian, " Mos-1
heim Leelius Socinus was a man of uncommon genius and
learning ; to which he added, as his very enemies are obliged
to acknowledge, the lustre of a virtuous life and of unble-
mished manners. His mild and gentle disposition rendered
him averse from whatever had the air of contention and dis-
cord." What, moreover, were the characters of Grotius,
Le Clerc, Sir Laac Newton, Locke, and Dr. Lardner ?
Did not these Unitarians shed an intellectual and moral
lustre upon human nature itself? The savage intolerance
which has recently been manifested against the mere tolera-
tion of opinions, boasting the patronage of such names as
these, is worthy only of that theological spirit which in the
16th century persecuted Servetus to death. That the
Bishops of Durham and Norwich are perfectly justifiable
in the course they have taken is demonstrable by historical
Las and precedents, a specimen of which has lately been
collected by a member of the Church of England, of no
mean order, in a pamphlet, addressed as a letter to Dr.
Hook, on the Athanasian Creed. The Church of England
is at present placed in the awkward position of a house di-
vided against itself, from which it can never be extricated
so long as mere ecclesiastical dogmatism rules its counsels.
Near one hundred years ago Bishop Warburton com-
plained : " To be assaulted with all the rude clamours and
opprobrious names that bigotry is every ready to bestow on
those it fears and hates, was the fortune of all my betters,
of Hooker, Hales, Stillingfleet, Cudworth, Bishop Taylor,
who were called politiques, sceptics, Erastians, Deists, and
Atheists." Dr. Barrow also, near 200 years ago, com-
plained : " A considerable cause of our divisions hath
been the broaching of scandalous names, and employing
them to blast the reputation of worthy men, bespattering
and aspersing them with insinuations, &c., engines devised
by spiteful, and applied by simple people—latitudinarians,
rationalists, and I know not what other names intended for
reproach, although importing better signification than those
dull detractors can, it seems, discern."—l am, Sir, your
humble servant,

CLERICUS.