The Sun.
London, England, 1838-06-21 00:00:00

W. L. MARCI-

" Waterton, May 30, IS3S.

" Dear Sir,—l have this moment received by express, from H. Davis,
Esq., Custom-house officer, at French Creek, a letter, of which the fol_
lowing is a copy, and the information therein contained may be relied
upm as correct :
" Clayton, May 20,
" Sir—La,t night the British steamer Sir Robert Peel was hoarded
near this place by about 50 armed men in disguise, the persons on board
driven on shore, and the boat set on fire, and wholly consumed. You
are requested to aid the proper authorities in the affair, or to advise the
proper course to be taken.—Respectfully yours,
" G. C. Sherman, Esq. " H. DAVIS."

In addition to the above, the messenger informs me that, although no
lives were lost as is yet known, the mate of the Sir Robert Peel was
badly burnt on board the vessel.

Our steamer Oneida, on her way to Ogdensburgh this morning, vo-
lunteered and took the crew on beard, and carried them to Kingston.
The whole community here is excited and alarmed to the greatest ex-
tent at this unwarrantable outrage, and a retaliatory spirit, that has only
slept upon the other side will, it is feared, be again excited, and to an
extent beyond controul.

The steamer, Sir Robert Peel, it is said, was taking in wood at
Mullet Creek Bay, or at the narrows below, about seven miles from
the Creek.

I have this moment learned that Captain/Armstrong bad command of
the Sir Robert Peel, against whom, it is said, the refugees had an old
grudge. He resided in this village during the last winter, and was
charged with being a spy upon their operations. I mention this cir-
cumstance as authorizing the belief that this act has proceeded from the
Patriots, or refugees, on;this side.

The present impression is, that we shall be unsafe on the frontier
without an armed force; and immediate measures will be required to
afford ample protection to British vessels in our waters, or all confidence
and intercourse will be broken up.

I have thought it advisable that General Cross, of the Militia, should
call out one or two companies of dragoons to go to French Creek, whither
I shall proceed with the sheriff this afternoon.
No person to our knowledge was recognised as having been engaged
in this outrage, but individuals residing at French Creek have been miss-
ing for several days. A portion of the Sir Robert, it is said, was owned
by a citizen of Ogdensburg.

The steamer Sir Robert Peel, in running a race with another steam.
boat last week, on the St. Lawrence, between Brockville and Prescott,
took fire, and was so much damaged that she was obliged to run into
port, her passengers having been taken off by the other steamer.—
Mackenzie's Gazette.

NEW YORK MONEY MARKET AND CITY INTELLIGENCE.

(From the New York Journal of Commerce, of June 2 )
SPECIE CIRCULAR.—Be it remembered, that Mr. Webster's resolu-
tion repealing the Specie Circular, passed the Senate on Tuesday by a
vote of 34 to 9, and on the following morning, within the space of about
an hour, was read three times and passed the House by a vote of 134
to 29.
These nuisances being now happily removed, the merchants, the
banks, and all other pecuniary interests are restored to their former
footing, save and except the derangement, and in many cases ruin,
which has been brought upon them by the "experiment." And now,
if the Government will let them alone—and we dare say it will, for the
experiment has been scarcely less disastrous to the Government than to
the people—the energies of the country will speedily revive, and trade
and business resume their accustomed channels.

(From the New York Daily WhCg.)
THURSDAY, MAY 31.--The specie Circular is at last repealed, and
the Executive prevented from promulgating for the future any such or-
der as far as the Senate is concerned.

The signal vote of 34 to 9, and the dodging of Silas Wright, when
the final question was taken, have inspired our dealers with fresh zeal.
They breathe once more. One more exertion on the part of the House,
and they will find themselves entirely unmuzzled. To day stocks rose
from half to three per cent. United States resurrection notes, so long
derided by the Administration, were difficult to procure at 1 a per cent.
discount. Holders now begin to see their way clear indeed, and they
arc determined to avail themselves of their fortunate position. Ex-
change on England is rising rapidly. The largest house in Wall-street
left off' at S per cent. about one o'clock. They found ready buyers at
S fcr prime bills. On Paris the rate was current at sf. 25c. Our
importers are waking up from their long sleep imposed upon them by
the opiative medicines of the Jackson doctors. They, are preparing, and
rightly too, to furnish their shelves against the coming season with the
choicest assortment of goods. Every body is looking forward to the
fall as the time to make up for past losses and to reap a golden harvest.
The whole energies of New York are on the ascendent.
Our last packet from London brings us the regular files of the Times
for the last twenty days of April. In that venal print is found repeated
attacks upon the credit of the United States Bank. What think you,
American reader ? The Globe and the New York Evening Post are
the authorities quoted by the Times as evidence of the insolvency of the
United States Bank 1.

The Rhode Island Banks have made their returns for April. Their
circulation is 2,154,524 dollars against 474,278 dollars in specie. Their
discounts are 124 millions, almost one half those made by our city insti-
tutions ! Did we use our resources and power as we ought to do, New
York city would indeed be the land of milk and honey.
FRIDIY, JUNE I.—Nicholas Biddle resumes cash payments to-Morrow
morning, Saturday. Triumphantly has this distinguished financier sus-
tained the much abused doctrines of his letter of the 7th of April last.
He has sustained them against the secret enmity of a clique that had
hoped to have built itself up, upon his ruin. He has triumphed over
bitter foes and Iscariot-like friends. He has carried out the principles
of financial economy on which our past prosperity depended; he has
proved to an oppressed people that there is but one polity in money
matters, by pursuing which the country can hope to regain that point in
its career from which it has been so rudely thrown down, and start
afresh in the path of its glory. That polity is a convertible currency,
and one money for the Government and the people. A grateful nation
will one day acknowledge the inestimable services of Nicholas Biddle, in
successfully resisting the usurping invader of our rights. We allude to
the operations of the United States Bank in cotton. Had they not
taken place, the Government would have triumphed, and fastened upon
the necks of the people the sub-treasury system. The design originally
was to break up all values, and force the property of the nation to change
hands.
_

The events of to-day will long be rembered in New york._The re-
peal of the specie order, by a vote of 154 to 29, in the House of Repre.
sentatives, was followed by a letter from the President of the United
States Bank, announcing the determination of that institution to erect
an establishment in Wall-street under our General Law. In our city
article of the 16th of May, we held the following language relative to
this business. " Nicholas Biddle, Esq. and other Philadelphia capita-
lists, have determined to associate themselves for the purpose of knking
under the General Bank Law, and to locate their office in Wall-street.
This will be done in less time than a month from this date.. The offi-
cial an n oeufntcheemßeena, tr,o feft this a resolution o 1 ultvi oen
hearwas treceivedhat the today at an extra
meeting affair will
be con-
summated about the 20th instant. It is a matter of gratulation to every
New Yorker that our General Bank Law is so soon about to be tested
by the ablest financier in the Union.
Stocks to-day, as may be well imagined, mounted up to a high point.
United States Bank shares closed at 121, and Delaware and Hudson
at 811. Harlem jumped up five per cent. The whole amount
of sales was over 6,300 shares, the heaviest day's work for some
mouths past. Philadelphia funds were saleable at 1 to 11 per
cent., but they could not be had from dealers in large sums for
less than I per cent. discount. Some, days ago the Evening Post
stated that the old rags of the United States Bank were stinking in the
nostrils of every person who valued his honesty. It was by such false-
hoods that the Administration hoped to have overturned au institution
impregnable to the assaults of the partisan. Nay, they went further.
Just before the late charter election, a purse was made up by certain
locofoco leaders and interested personages to buy 1,000 shares, in order
that they might throw the stock down. They succeeded in getting it to
108, by the help of a certain venal press, but before they were done they
scorched their fingers so badly that they have not ceased blowing them
to this day. Of a part with all these bad acts, are the attacks in London
upon the credit of this institution. We hear that exchanges on the
South improved this morning. The large amount of the old notes of
the United States Bank in the South now, will be bought up and sent
Northward as a remittance. So soon as the news of Mr. Biddle's re-
sumption shall have reached New Orleans we slit uld not be sun)! ised to
see sight checks on New York down to 2 or 3 per cent.