The Sun.
London, England, 1838-09-24 00:00:00

greatly shaken by the circumstances attending this me-
lancholy affair which have already come to light. It
appears, in the first place, that even before the
steamer had got out. of the Humber, and while of
course it was in still water, a leak was observed in one
of the boilers. Now, what short of infatuation could have

induced the master of the vessel to proceed on the voyage
after this discovery ? Ought not common caution, to
say nothing of the responsibility of having so many
lives entrusted to his charge, to have dictated an im-
mediate return to Hull, to have the leak repaired ?
But culpable as the conduct of the master—who has
fallen a sacrifice to his own temerity—must be consi-
dered, he was not the only person to blame. The pro-
prietors of the Forfarshire must come in for a very
large share of condemnation. They were well aware

,hat the boilers were defective, for it is stated that

they had been " of late in a leaky state," and the steam
had been seen " issuing out of them in various places."
They had even undergone a certain degree of patching
and tinkering at Hull, before this ill-managed vessel
set out on her voyage northwards. Nay, it appears
that so sensible were'the owners of the inefficiency of
these boilers, that they had ordered materials for new
ones to be shipped on board this very steamer, a quan-
tity of new boiler plates being found among the wreck
on the rocks. Now what earthly excuse can they
allege for thus risking, and as it happenel, throwing
away the lives of so many persons? It is said that with
fair weather the vessel might have made the voyage
notwithstanding the leaky state of the boilers. Very
possibly she might ; but vessels that coast the eastern
shores of England and Scotland in the month of Sep-
tember must not calculate on fair weather ; they must
be prepared to encounter storms, and if they are not so
prepared—if there be any deficiency in their equipment
—the owners are responsible for the consequences. In

the present case it was the sacred duty of the owners,
knowing, as they did, the state of the boilers, to have
had them- replaced by new ones before they allowed
the steamer to take another trip. It is, therefore, to
their grasping and inhuman cupidity, in striving to
squeeze the greatest possible quantity of work out of
their old and unseaworthy materials, that this wholesale
and lamentable loss of life is principally, if not entirely,
to be attributed.
We are afraid there is no means of visiting them
with condign punishment. The only way, as the law
at present stands, in which delinquency of this kind
can be reached, is by laying a deodand on the vessel ;
but here the vessel is lost, and the deodand laid on
the wreck by the coroner's jury, must be levied, if
levied at all, on the underwriters. The punishment
thus falls upon the innocent while the guilty altogether
escape. A legislative remedy has become absolutely
necessary for this most serious evil : and surely it is
not too much to expect that the Legislature should
see that every possible precaution be taken by steam-
boat speculators to ensure the safety of the vast and
daily increasing numbers of persons who adopt that
mode of travelling.

By the arrival of the packet-ship James at Ports-
mouth, on Saturday, we have received New York and
Canada Papers—the latter to the 27th of August,
and the former to the 2d inst. inclusive. The ❑ews
which they bring, though not politically or commer-
cially important, is not wanting in interest, as may be
gathered from a reference to the numerous extracts
from them which will be found in another part of

The Sun. In the Canadas all is tranquil. Lord
DuRIIA?f continues to pursue the course which he
adopted on landing in the Lower Province, without
the slightest appearance of regard to the censure
passed upon his erdinances by the British
Parliament. In so acting the Noble Earl has dis-
played a degree of firm, steady self-possession,
which we confess we had judged foreign to his cha-
racter. We were really apprehensive that his impe-
tuosity of temper would get the better of his judgment,
on learning that his first acts as Governor-General
were made the subject of a severe Parliamentary at-
tack ; and that in the first warmth of his feelings he
might be tempted to fling up his commission, and
leave the Canadas to shift for themselves. Fortu-

'lately we had under-rated the patriotism of the Noble
Earl, who, having put his hand to the plough, dis-
dained to look back.

The following account of the state of the " money
market" in New York, for the four days previous to
the sailing of the James for England, though not
quite so favourable as might have been expected, is,
upon the whole, rather encouraging than otherwise :
MONEY MARKET, AUG. 28. ,

The business transacted at the Stock Exchange yesterday
was limited, and the market closed heavily, with a downwar.l
tendency. United States Bank closed at 123, Delaware and
Hudson 832, Stonington Railroad 69, and Haarlem Rail-

road 712.
The liabilities of the bank of Old Town, situated at Orono
Maine, and which we stated yesterday had probably failed,
amount, it is estimated, to 65,000 dollars, including its debts
to the Suffolk bank cf Boston, a part of which is secured by
mortgage on real Estst- owned by the bank. The amount of
hills •in circulation, included of course in the above estimate,
is said to be about 25,000 dollars. The failure is no doubt a
bad one, as neatly all the capital• stock was held by irrespon-
sible brokers, who had recently obtained it.
The State Bank of Illinois resumed specie payments on the
3th instant. By the 'resent airangcments, the notes of the
mother bank are redeemed in specie at the counter of the
bank in Springfield, and the notes of each branch at the
counter cf the branch from which they are issued.
Wheat has advanced 12i, cents per bushel at Rochester
within the last week, and is now in demand at Idol. 50c.
No auction sales to-day worth reporting.
MONEY MARKET, AUGUST 29.—The stock market of yes-
terday was characterised by the same want of animation which
has prevailed during the last few days, and prices remain
without any material variation. Advices received from Phila-
delphia state that money for the last week had been
rather tight, the rate out of doors ruling at nine to ten per
cent. per annum. The banks were acting with great modera-
tion and caution, though at the same time with all reasonable
liberality.
The import of specie at this port yesterday was very large,
including a portion of the Neapolitan indemnity, to the amount
of 660,000 f. in gold, and the Smithsonian bequest of 600,000
dollars in the same metal.
The Toronto Patriot gives rather a deplorable account of
the state of the present currency in Canada. Specie it states
to be excessively scarce. The Bank of Upper Canada would
not set the example of resuming specie payments, and the
other banks will not until she does. Add to this the existence
of a most worthless copper coinage, if coinage it can be called,
which has become so depreciated in value, that instead of 120,
you may buy in some places 200 of them for a paper dollar,
and two of them will not weigh an American cent.
MONEY MARKET, Ace. 30.—We have no change to report
in the general appearance of the Stock-market, which con-
tinues heavy. No sales of United States Bank were made
yesterday- 50 shares Manhattan Bank were taken at 127
which shows a falling off in price; Delaware and Hudso
Canal
Railroad CompanyCompany closed at 84, buyers, 30 days ; Stoningto
Company, 68 : Mohawk Railroad Company, 744 ;
Paterson Railroad Company, 72 ; and Haarlem Railroad Com_
pany, 721. A good deal of speculation in the stock of Vicks
burg Bank took place, about 700 shares having been sold
chiefly on time, closing at 86 cash. Brandon money is taken
less freely at 40 per cent. discount; Mississippi funds generally
continue at 10 per cent. discount.
It is reported that the Secretary of the Treasury has taken
500,000 dollars of the bonds of the Real Estate Bank of
Arkansas. The particulars of the negociation have not
transpired.
The Shawneetown- Bank of Illinois has resumed specie
payments.
The Charleston market report of Saturday last states that
the heavy rains which had been experienced during the week
had materially affected the limited business of the season.
Nothing bad been done in cotton. Sales of corn at 38c. to
95c. per bushel. In the expectation of supplies of new flour,
holders were forcing off the old at 7 dols. 50 cents. to 8 dols.
per barrel. The accounts from Poughkeepsie stase an ad-
vance in wools in that market of from 3c. to sc. per pound,
with sales of 20,0001 b. at the advance.
MONEY MARKET, AUGUST 31.—The tendency in Stocks
is still downwards, and in some descriptions a very
considerable decline in prices occurred yesterday. United
States Bank closed at 1231, a falling off of per
cent.; Delaware and Hudson Cahal Company also de
dined Paterson Railroad Company:, 14 ; Haarlem Rail
road Company, 1 ; and Stonington Railroad Company, 2
per cent.
Mississippi funds continue at 10 per cent, discount Ala
bama at 31 discount

We have copied from the German Papers, received
this morning, a somewhat curious article on the sub-