The Sun.
London, England, 1836-09-03 00:00:00

THE MONEY MARKET

Less effect than was anticipated appears to have followed the
advance by the Bank Directors of the rate of interest. As
money is to be obtained at present on lower terms elsewhere,
it merely tends to keep the discount and the cashier's office
without applicants. Looking to its effect on the circulation,
it is calculated by persons who are well acquainted with this
department of the Bank transactions, that if the whole of their
discount business were taken away, it would not diminish the
circulation by more than 1,500,0001. or 2,000,0001. Times.
The increase in the rate of discounts by the Bank of Eng-
land continues to be the subject of discussion in the City, and
notwithstanding the prognostication that a panic would inevi-
tably follow, Consols for Money and Account have not only
not receded below the quotations of yesterday, but have ac-
tually advanced to within a mere fraction of the prices
realized before the determination of the Directors was make
known yesterday. Consols for Money have risen this after-
noon to 91, sellers, and for the Account to at which price
business ceased this afternoon. The improving condition of
the foreign exchanges had some influence upon prices. As
might have been expected, the premium upon the unfunded
debt has been materially affected by the increase in the rate of
discount by the Bank of England, Exchequer Bills yielding
a rate of interest so much below that which is now demanded
by the Bank of England.—Morning Advertiser.
The decision of the Bank parlour yesterday continues to be
the object of the deepest interest amongst the commercial cir-
cles here; and the determination of that incapable body, the
Bank Corporation, to raise the rate of interest on loans, &c.,
at the period of the soundest general prosperity which this
country has experienced since the termination of the war, has
created the greatest disgust and distrust in their power to sus-
tain the monopoly of the circulating medium of this country.
We have held a consistent opinion that this country will never
be relieved from a participation of the danger to which the
Bank of England is and must be perpetually exposed, until we
return again to a silver standard. We are not single in that
opinion, since we declare that there are those in existence, who
can prove that the Bank Direction, as a body, have been with-
in reach of the powers of the Insolvent Commissioners repeat-
edly during the last ten years.—Morning Herald.
The effect of the Bank notices issued yesterday continues
to be felt at the Stock Exchange, for although no just excep-
tion can apparently be taken to the measures adopted by the
Directors, in order to reduce the amount of their circulation,
and thereby to check in some degree the exportation of the
precious metals, those measures are freely commented upon
by parties interested in the matter, and it is apprehended by
individuals engaged in money transactions that an undue im-
portance may in consequence be attached to the notices in
question in the manufacturing districts and in other parts of
the country. Consols were first quoted this morning at the
final rates of yesterday, but there was apparently rather more
confidence in the stability of the Market towards the close.—
Morning Post.

SEARCH for the ABSENT WHALERS.

The following are the particulars given of the voyage of the
Cove, by Captain Ross.
While the Cove was at Stromness on her outward course,
Captain Ross received intimation from the Admiralty of the ar-
rival of the Abrain of Hull, and of her having drifted south-
ward with the pack to the 54th degree of north latitude. In
consequence of this information he deemed it expedient to de-
part to a certain extent from the instructions of the Admiralty.
Accordingly, he made for the pack-edge in the above-mentioned

latitude, but owing to unfavourable weather, he did not succeed
in gaining it until the 7th of April. Between that date and
27th of May, Captain Ross made a careful examination of the
main pack-edge between the 54th and 65th degrees of latitude,
and failing to discover any traces of the Lady Jane or Wil-
liam Torr, he stood over to Holsteinburg, for the purpose of
falling in with the bomb vessel which he expected to join him
there on the Ist of June. Here the Cove remained for some
days, obtaining a supply of water, and completing the requisite
repairs. The Undaunted of Kirkaldy had previously an-
nounced to Captain Ross the arrival of the Lady Jane in
England ; but of the William Torr no tidings could be pro-
cured. The Terror bomb vessel not appearing, the Cove
proceeded to Whale-fish Islands, the last-appointed rendezvous
for the Terror, and arrived there on the 14th of June. On the
19th of the same month the commander received a communi-
cation from the Admiralty, intimating that in consequence of
the arrival of the Abram, and of a statement made by Mr. Wil-
liam Tather, master of the Jane, the sailing of the Terror had
been countermanded as unnecessary. Captain Ross was di-
rected to proceed homewards, after making every practicable
endeavour to relieve the William Torr, in the quarter where
he might consider her most likely to be found, on receiving
the additional information. Though regretting that he had
not the means of penetrating to the west land of Baffin's
Bay, the commander, guided by the statement of Mr. Ta.
ther—that the William Torr was seen on the 16th October
45 miles S. E. of Cape Searle, and drifting to the south-
ward—deemed it his duty to advance to the quarter thus de.
cidedly indicated, and thence endeavour to prosecute his in-
quiries at one of the northern settlements on the coast of La-
brador. Before his departure he proceeded through the Way-
gatz Strait, for the purpose of communicating with the
whaling ships to the northward. On the Ist of July, he
reached Fore-Island Point, in lat. 70. 40 N., and long. 67 W.,
where he found about fifty vessels detained by the ice. Re-
passing the Waygatz Strait, he bore to the westward, and
reached the packing, lat. 69 N., and long. 571 W., and gained
the spot where the William Torr was alleged to have been last
seen on the 13th of July. A careful examination of the pack
was made at this place. On the 14th of July, the Cove fell
in with three whalers, the Eclipse, Commerce, and Resolution,
the masters of which vessels, as well as those to the north-
ward, gave the most solemn assurances that, although they
believed the William Torr to be to the southward, still they
would use their best endeavours to examine the whole of the
west land for the crew. In the face of many difficulties aris-
ing from foggy weather and heavy south-easterly ;swells, Capt.
J. Ross persevered in exploring the pack to the southward. His
progress was impeded by a barrier of heavy and extensive
floes driftingito the southward, at a distance of from fifty to
seventy miles from the land. After many ineffectual at-
tempts to penetrate this barrier, he at last succeeded in again
entering the pack, and in advancing through it, to the
settlement of Okkah, in lat. 57i N., where it was hoped that
the missionaries of " Unitas Fratrum," resident at that place,
would be able to communicate some information respecting
the William Torr. No account, however, of that vessel or
the crew could be given by the missionaries, who declared
that it was impossible for any ship, or the crew of any ship,
to have approached that shore to the north or south, within
300 miles of the settlement without their being speedily ap-
prized of the fact. Under all the circumstances—having
closely examined the pack from the 54th to the 69th degree
of north latitude—it appeared to Captain Ross that all that
the vessel under his command was capable of effecting bad
been accomplished. Presuming upon the correctness of the
information furnished by Mr. Tather, he feared that the
William Torr—if she had not returned to England—had been
wrecked in the pack ; but he still indulged the hope that she
had wintered on the west coast of Baffin's Bay, in which case
her crew would most certainly have been discovered by some
of the whale ships.
The Cove weighed anchor on the 4th of August, passed
through Pentland Frith on the 19th ult., and arrived in sound
condition, and with all hands in perfect health, after a most
perilous and, we grieve to add, an unsuccessful service.
Despatches, containing the above information, having been
forwarded to the Lords of the Admiralty by Captain J. C.
Ross, immediately upon his arrival, their Lordships have
transmitted to him a reply, in which they express their satis-
faction at the zeal and judgment displayed by him in the exe-
cution of the duty confided to him, as well as at the good
conduct and activity of the officers and men under his corn-
mand.—Hull Obse,ver.

On Thursday the Court of Examiners of Apothe-
caries' Hall granted certificates of qualification to the follow-
ing individuals :—William Henry Dry, of Oxford: Nathaniel
Coats, of Ilfracombe ; Stephen Lunn Muller, of Old Kent.
road ; William Palmer Gillanders, of Brighton ; Frederick
Cauet ; William Joshua Jefferies Dowlin, of Cork ; Henry
Francis Burdett, of Gilmorton ; John Levet Benson, of
Norton.

HIGHWAY ROBBERS.—On Thursday evening, the
25th ult., Mr. Whal, of Botley, Hants, was stopped on Winter's-
hill-common, near Bishop's Waltham, by three men, one of
whom seized his horse, and the others dragged him from his
seat to the ground, and then rifled his pockets of a purse with
some silver and a silver pencil-case, with which they made
off. They have been traced to Farnham, proceeding in a di-
rection for London, having with them a sailor's long canvass
bag. Fifty pounds reward has been offered for the apprehen-
sion of the offenders.

THE HARVEST.—Much of the wheat has been
housed in tolerable condition, and a week of fine weather will
probably clear all the fields in this neighbourhood. The pro-
duce is unequal in quantity—the ears in some places being light,
and in others large and full. The barley generally comes to
hand pretty fairly, but the oats are not quite so good, except
on favourite grounds. The peas have been nearly all har-
vested. The beans by no means so promising in bulk, hav-
ing generally suffered from the unfavourable season.
AMERICAN COTTON CROPS.—The following par-
ticulars relative to the condition and prospects of the cotton
crops in the United States are contained in the last advices
received from thence :--Of the crop of 1835 there had been
received up to the middle of last month about 1,296,000 bales,
and about 41,500 more were expected, making a total of
1,337,500 bales for the last year's produce. There had been
shipped off of this amount for foreign ports, from New Orleans,
333,000 bales ; and 169,000 bales from other
360,000 bales ; 14g,500 bales ; Savannah and Char-
leston,arts of
the Union, making a total of 1,010,500 bales, and leaving
327,000 bales in the country. Allowing about 234,000 bales
consumed in the United States, the stock available for ship-
ment in the middle of last month was calculated at about
93,600 bales. It was anticipated that before the Ist of Oc-
tober next, the date at which the returns are generally com-
menced, there would be exported 45,000 bales, leaving about
48,000 bales on hand previously to the receipt of the new
crop. The present advices mention that the accounts from
the eottenr.gfoifin Mates lead to the expectation that the
next crop would realise Pbl44t 14049 bales, provided no
casualties arise to frustrate the ht)pes pf thp iirpvipFollefore the
plant arrived at perfection. The stocks of A.mprim potton
and an advance in the
by these holders.
Twa was anticipated
in Europe, it was believed were small,
Twa wb444 pf large size were driven on shore last
week, on the property
lady Bellingham, of Castlebelling-
ham. It is supposed they got into the sPaiI9TY Water in pursuit
of a shoat of hereings, which have lately been very abundant
on the northern coast of Ireland. They have been secured.i—
Dublin Paper,