The Sun.
London, England, 1836-11-18 00:00:00

consenting. There was no objection to the other part of
the application.

EX-PARTE MARKS IN RE COLNAGHI.

In this matter Mr. SWANSTON applied for an order, em-
powering the assignees to accept of certain propositions
made to them by a Mr. Philipps, regarding the disposition
of some of the property of the bankrupt, or that it might be
referred to the Commissioner to make inquiry thereupon.
The Learned Gentleman went into a lengthened argument
to show that the Court had jurisdiction in this case, and
cited a number of authorities in support of his position, but
The COURT were of opinion that the granting the order
required would be nugatory, and might be mischievous, and
would therefore make no rule.

IRELAND.

DUBLIN, Nov. 16.

BANKS.—The panic forms the prominent topic of to-
day's discussion in all the Journals. The Pilot, in a very
long article on the subject of what our Contemporary de-
signates the " money monopoly nuisance," makes the fol-
lowing, amongst many other observations on the subject :
" It can be shown (the Pilot asserts) that the Bank ag-
gravated the evil, by either not having foreseen the ulterior
necessity, and not having guarded against it as far as its
position enabled it to do, or that it purposely aggravated
the evil. It can be shown that it omitted to do many acts
within its power, which would have mitigated the money
embarrassments, and that it committed some acts of a wan-
ton and outrageous nature, which it seems difficult to ac-
count for, but that it was desirous to increase that embar-
rassment for sinister purposes.
" How, then, has the Bank of Ireland acted throughout
the money difficulty ? Let us begin with its conduct in its
out branches. It had been in the habit of receiving the
notes of the different Joint Stock Banks and their branches
in payments of bills, orders, and letters of credit on Lon-
don, &c., until Monday morning last, when notices were
posted up in their branch offices—that in future all parties
having Joint Stock Bank notes must be accountable for
their solvency for six days. What was inevitable from such
a notice ? That which happened. The run commenced on
Monday from all these localities.
" The Bank also refused all letters of credit, even of the
most unexceptional character, for all Joint Stock esta-
blishments.

" The Bank refused also to take Bank of England notes
from Joint-Stock Banks, except at half per cent. discount,
during the late emergency I ! Quere—are not they a legal
tender ?

" The Bank refused to discount the best, the most unex-
ceptionable English and Irish bills for Joint-Stock Banks in
this period of pressure, as well as every other period since
their establishment.

" The Bank actually caused the non-payment for an in-
terval of the Ulster and Belfast notes, at the Hibernian
Bank, by refusing to discount a draft at ten days on the
first bankers in London—Prescot, Grote, and Co.
"This Bank of Ireland! too, did actually in this emergency,
at a period when the " run" came suddenly, and the most
wealthy house might for a day have been unprsvided for—this
Bank refused to allow a transfer of stock to a large amount,
the property of the Joint-Stock Bank thus suddenly pressed
upon, and refused it upon the plea, the mere technical objec-
tion, that it was two minute: after the time—two o'clock ! !
" What, then, is the deduction inevitable from these
facts, for which we challenge and defy contradiction, and as
well as from a general knowledge of the working of that
establishment ? Why that this Bank of Ireland is the
Bank only of a coterie—that when it was without compe-
titors it was but a Bank of Dublin ; or rather of an exclu-
sive section of Dublin—that when it got competitors, it
only then extended its branches, so as to perform, in some
small degree, the functions of a National Bank—that it
was so angry at the necessity forced on it to do good, that
it sought the first opportunity to ruin those who forced the
necessity, and that the juncture chosen was evidently with
reference to the renewal of its charter, by making it appear
that Joint Stock Banks were dangerous to the community,
and that it would be necessary to re-charter the Bank of
Ireland."
The Mail takes a somewhat different view of the causes
that led to the monetary crisis, and denies the use and
benefit of joint-stock banks in a country situated as Ire-
land is. Our contemporary asserts that " there is natural
trade in Ireland—either in agriculture, manufacture, or
commerce, requiring the accommodation which these banks,
through their country agencies, acting in the spirit of ardent
competition, were disposed to bestow ; and hence the cir-
cumstance, that a system which has been found to work
well and advantageously in England and Scotland totally
fails here." The ascription also of the run for gold to po-
litical causes is of course vehemently denied by the Irish
organ of Toryism. And although even the Mail cannot
defend every act in the course of conduct which the Bank
of Ireland has thought proper to pursue, it still affects to
believe that upon this crisis, the Directors did all in the
power of men to do, towards stemming the current. Their
general system of doing business is confessedly bad. The
Mail admits that it is " confined and narrow-minded in
the extreme, and liable to that most serious of all charges
which could be urged against a public establishment, consti-
tuted and chartered for such a purpose as a National
Bank—a charge of favouritism."
With regard to the question of Bank of England notes
being a legal tender, the opinions of the Irish as well as of
the English Attorney-General, and of Sir William Follett,
all concur in stating that " a tender in the note or notes of
the Bank of England, payable on demand, whether issued
in London or a Branch Bank, is a legal tender in Ireland.
A Treasury order has this day been received, directing the
Collectors of Customs and Excise to receive payments in
their respective departments in Bank of England notes ;
and we think the Bank of Ireland would best consult its
own character and the general interests of the country by
taking them in payment, without insisting on the bonus of a
premium. At such a time public opinion will not sustain
them in such a course."—Mail.

THE MARKETS-(THIS DAY).

CORN EXCHANGE.

There are tolerably good arrivals of most kinds of Grain
this week, and a fair return of Flour. Most of the country
markets being reported considerably lower for Wheat, this
trade has to-day been very heavy, at a decline of 2s. to 3s.
per quarter from the terms of ,Monday last. Barley also is
very dull at ls. per quarter lower. Beans remain as last
stated, with a slack demand. Boiling Pease are unaltered.
Grey Pease are 2s. per quarter cheaper. Oats have expe-
rienced a heavy trade, and hardly maintain last quotations.
There has been very little demand for Flour this week, and
prices are expected lower on Monday.