The Sun.
London, England, 1836-09-02 00:00:00

mile and a distance.

Mr. Gibbon's Wasp, 3 yrs, 6st.. 41b Jones 1 1
Captain Pettat's Caliph, 4 yrs, Bst. 71b 2 dr
A Hunters' Stakes of 3 sobs. each, with 20 added. Heats, mile
and a distance, was won in two heats by Mr. Beden's Boy Blue
(late Cricket), 6 yrs, l3st., beating Mr. Peter's Syntax, aged,
13st. ; Mr. E. V. Fox's Highland Lass, I Ist. 111 b. ; Mr. E. Gill-
man na Miss Margaret, 5 yrs, llst. bib. ; Captain Maher's Charlie,
aged, 12st. bib. ; Mr. Besley's Gainsborough, 7 yrs, 12st. ; Mr.
Strong's Stick-in-the-Mud, aged, 12st. ; and Mr. Laing's b. r.
Whitelocke, aged, 12st. 51b.

BLANDFORD RACES—TUESDAY.
The Dorsetshire Gold Cup, value 100 cove. ; three-yrs. old, 6st.
101 b. ; four, Bst. Ilb. ; five, Bst. 101 b. ; six, 9st. ; aged, 9st. 21b.
The winner of a King's plate, or the vain?. of 100 sovs. includ-
ing his own stake, in 183 G, to carry 31b. extra ; mares and
geldings allowed 31b. Two miles and a die. (10 Subs.)
Sir E. B. Baker's Spume, 5 yrs .J. Day 1
Lord Ilchester na. Mayflower, yrs
Mr. Finch's Outcast, 4 yrs
Captain Williamson's Ainderby, 5 yrs
Betting-2 to lon Outcast, 3to I agst Ainderby. Won by half
a neck.

A Plate of 501. ; three yrs old, 7st. 41b. ; four, Bst. 101 b. The
winner of a plate, match, or sweepstakes in 1836 to carry 51b.
extra. Heats, two miles.

Lord Jersey's ch. c. by Tramp, 3 yrs
Lord Palmerston's Toothill, 3 yrs...
Mr. Finch's Outcast, 4 yrs 2 dr
The Yeomanry Stakes of 3 save. each, for horses not thoroughbred,
the second horse to receive 10 sore. ; four yrs old, lOst.: five,
lOst. 91b. ; six, llst. Mb. ; aged, 12st. Heats, one mile. New
Course.

Mr. W. Hanham na. 'Morton, 6 yrs
Mr. 11. Ycatman na. Fair Maid, 6 yrs 2
Colonel Frampton na. Anticipation, aged 4 3
Mr. Farquharson, jun., na. Vocalist, 6 yrs

STOURBRIDGE RACES—TUESDAY.
A Three-yrs- old Stakes of 10 sots. each, with 20 added. Mile.
Sir. E. Peel's Post-haste, st... . walked over.
A Maiden Stakes of 5 sous. each, with 20 added, for horses that
_ _ _

never won 501. Heats, two miles.
Lord Ward na. Emily, ist. 121b...Arthur, jun 5 5 1 1
Mr. Mott's Rosetta, 3 yrs, tilt. 101 b 4 1 4 2
Capt. Bunny's b. f. by Pantaloon, 3 yrs, 6st. 3lb 0 4 2 3
Mr. G. Grazebrook na. Triton, 3 yrs 0 2 3 dr
Mr. Brown na. Jewess, aged, 9st 3 3 fell
Mr. Trow na. b. f. by Memnon, 6 yrs, fist. 31b fell
The Worcestershire Stakes of 30 sows. each, added to a Sweep-
stakes of 5 sous. each. Two miles.

Mr. Piekewell na. Donnington, aged, I2st walked over.
The Town Plate of 501., for horses of all ages. Heats, two miles.
Mr. E. Peel's eh. f. Post-haste, 3 yrs, 7st...Whitehouse 1 1
Captain Bunny's Newcastle, 6 yrs, Bst. I Ilb 2 2
Mr. Mott's Daffodil, 5 yrs, Bst. Glb... 3 dr

WALTER COX.

TO THE EDITOR OF THE FREEMAN'S JOURNAL.

Sir,—You have given insertion to a cruel attack on my
character and my life, by copying an unfounded statement
to my prejudice from the Morning Chronicle. I expect
you will give me the same indulgence afforded to an anony.
mous adversary, who has not cited a single circumstance
even to a shadow of presumptive evide ice to support any
accusation against me.
Your readers are to understand that I was a pensioner
and agent of Lord Castlereagh's, while he was preparing
his revolutionary machinery for effecting the Union. II
that great measure is appreciated as it ought to be, surely
it is a great violation of duty to criminate Lord Castlereagh
for accomplishing it, and me for taking the best wages going.
I assure your readers that I am innocent of any part or
participation in any means or measures of Lord Castle-
reagh's. In fact, lam innocent of doing good this way, and
innocent of taking money for my neglect ; and for this reason
—I was at the time on an equal footing with his Lordship—
high in the military organization, I was the sitting Member
for Dublin in the provincial, sent there by 8,000 electors—l
was the confidant and companion of the most eminent
men of the day, the most distinguished sufferers also ; I
was no understrapper—l ranked as a leader ; I held the
destinies of the country, and the lives of illustrious men, in
my spotless hands. Affairs were so promising, that Lord
Clare in his place in the House of Lords, said, that our
ambassadors bearded Lord Malmesbury at Lisle —this was
the time to make money. I never received money from
from his Majesty's government, but in payment as a con-
tractor for making muskets and other small arms, for the
Irish Board of Ordnance ; for be it understood I was at the
time a young gunsmith, and had never any other intercourse
at. the Castle, only, on one very serious occasion—it brings
my gunsmith occupation in contact with another addition,
that of engineer ; I went forward to the Secretary of State
at the Castle to claim a paper in my hand writing found in
the writing box of my beloved general, Lord Edward Fitz-
gerald, at Leinster-house, by the officers sent to apprehend
him. It was a plan of barricade action, suited to a city,
the first of the kind ever reduced to writing, an original,
and with some improvements acted on thirty-two years after
at Paris.

The Duchess Dowager of Leinster alludes to it in her
petition to the Duke of York, October 30, 1798.
" In humble reliance on your Royal Highness's goodness,
I will venture to mention another circumstance. In the re-
port of the Irish llouse of Lords, a great stress is laid on a
paper said to be found among my son's papers, for the at-
tack on the city of Dublin. That paper was found on the
12th of March, and a few days afterwards, an armourer,
who worked in the Castle of Dublin, on hearing it talked
of went to the Under Secretary of State, and desired to see
the plan, which when shown to him he acknowledged to be
his, and that he sent it anonymously to Lord Edward Fitz-
gerald. Being asked his reasons for so doing, he said, be-
cause he understood Lord Edward was a good engineer,
and curious in such matters."

Lady Napier, sister of the Duchess, in her interesting
diary, differs very little in her account of this paper.
" That the report of a dreadful map found in Lady Ed-
ward's care, was one of Dublin, with notes by a clever gun-
smith, who had marked the weak points, and who had sent
it to Lord Edward. That no sooner had this man heard
of the noise it made than he went to government, and said
it was his. They asked him for what purpose he had drawn
it up—for my amusement."
This was the only interview I had with Government
during the period—a dangerous experiment at the moment ;
nothing saved me from chastisement but the generosity of
the gentlemen present, who were much astonished, and I
believe amused, at the singularity of the visit, with the sim-
plicity and carelessness of my request and confession, for
my mind-was bordering on despair, lest any imputation in-
jurious to my innocent chief should obtain circulation.

If I were an agent and pensioner of Lord Castlereagh,
we must have quarrelled at a very early period of our in-
timacy, for it is on record, that his Government had the
director, senator, adjutant-general, engineer, gunsmith and
journalist brought to trial, convicted, imprisoned three
years and four months, fined 300/„ pilloried, and banished
for publishing a pleasant magazine, abounding in sarcasm
and humour, tending to ridicule his Lordship, his measures,
men, and union, all included.
I have an annual allowance now, through the kindness of
the best friend Ireland ever had, and the most eminent of
his own renowned country. Worn down by long confine-
ment, with the entire loss of my property, I am occasionally
the victim of sneaking., unknown cowards, inflated with
wealth and pride , they appear to envy me the honest
luxury of honourable destitution.
WALTER COX, 12, Clarence•street.
August 30, 1836.

THE SUN, LONDON, FRIDAY, SEPTEMBER 2, w3G,

of the No. 1 brig,..de, and my clerk, Mr. H. Boswo •th, it
was miraculously pre:.e v d, i)nd my bus Hess is carri,d on
as usual.

I am, Sir, your obedient Servant,
BENJ. EDGINGTON,
Marquee, Tent, and Rick Cioth Manufacturer, 2 Dukc-strce'
Southwark. —Sept. 1, 1836.

BANK OF ENGLAND.

(From the Times.)

The Bank Directors, who last week were highly indig-
nant., and gave a flat. contradiction to a report that they hau
discussed the expediency of raising the rate of interest, have
now given official nptices of such an advance, both in re-
gard to discounts, and to the temporary accommodations on
" approved securities." No man in his senses will now, o'
course, believe but that they did, the whole or part of them,
discuss the question last Thursday, and that they did also
as was stated, agree to postpone it for a short time. This
will create, however, no wonder, nor is it of any value, ex-
cept as tending hereafter to settle more completely the
value of such official contradictions. The event itself is
important, as throwing a new complexity into the affairs of
the money-market, and it well deserves to be carefully con-
sidered in all its various bearings.
The time chosen by the Bank for this new advance is
thought by most persons to be one of the most remarkable
features connected with it. They receive it, in fact, as evi-
dence that anything but cordiality exists between the Bank
:Ind the Government in the administration of our financ:al
affairs. Notice has been just issued from the Treasury for
the exchange of Exchequer-bills, giving to the holders, as is
usual, the option of new bills or money. The amount to
which the notice applies is about 9,000,000/., and it is easy
to perceive the embarrassing situation in which the Govern-

.sent would be placed, if the present proceeding of the
Bank, as is very likely, should force Exchequer-bills below
par, and induce the holders to demand money.
Another effect (an intended one) is that of increasing the
scarcity of money in London, and it would be imagined that
the Bank, in common consistency, would not, under these
tircumstances, enter into any new contracts with joint-stock
banks in the country, which have already done so much mis-
chief', for supplying them with money at a rate lower than
that which is current in London. The directors have,
however, as we are assured, within these few days past,
agreed with a bank of that description in the west of Eng-
land for a very large advance ; ancl they are said also to be
in treaty for the same purpose with others in various parts
of the country.
The complaints on this head from the London merchants
and capitalists, who arc suffering by the preferences thus
given, are growing every day more loud and general.
Though the aggregate circulation is large, that of London
is rendered by those means smaller than it was last year, at
a time when it ought to have been comparatively greater to
meet the extension of our commercial operations. There
are complaints among the bankers all over the City of an
absolute scarcity of bank-notes for the purposes of business. ,
A further consequence of this rise of the rate at the '
Bank will be that of bringing the new law into full opera-
tion, which takes away any limit to the rate of interest on
bills having less than 90 days to run. Many cases have
already occurred in which, including commission, much be-
yond 5 per cent. has been paid. Such bills will still,
though on very dear terms, find a market ; but the large
class of bills which have longer dates to run will not be
cashed without difficulty, while the short bills may be turned
to so much better account.
Annexed copies of the notices issued this afternoon
(as published in The Sun of yesterday) :
" At a Court of Directors at the Bank on Thursday, the Ist
of September, 1 836 :

" licsolved, that the interest on Bills of Exchange and
Notes discounted by the Bank, be advanced to Five per Cent.
per annum."
" The Governor and Company of the Bank of England
do hereby give notice, that on and after the Ist hat., they will
be ready to receive applications for leans upon the deposit
of Bills of Exchange, Exchequer Bills, East India Bonds,
or other approved Securities; such loans to be repaid on or
before the 20th of October next, with interest, at the rate of
51. per cent. per annum ; and to be fur sums of not less than
2,0001. each.

Bank of England, Ist Sept., 183 G."
With regard to the Liverpool ar.d Manchester bills,
founded on the export trade to the United States, which
were so recklessly thrown out last week, to the astonish-
ment of the whole trading interest, who knew the perfect
solidity of them, a sort of compromise appears to have been
come to. On the news reaching Liverpool, a deputation
was sent up to confer with the directors on the subject, and
they had a conference on Tuesday with the Governor and
Deputy-governor, and Mr. Horsley Palmer. After a full
discussion on all the points at issue, they were given to un-
derstand that no obstacle would now be thrown in the way
of discounting American bills arising out of fair busim..ss
transactions, though a wish was expressed on the part of
the Bank to check such foreign stock transactions as would

have a tendenu to drain the country of specie. Between
these and the legitimate transactions of commerce, the Bank
Directors, if they understand their business, should always
be able to distinguish ; and such a declaration was therefore
quite superfluous. _

( From the Morning Chronicle. )

We refer our readers to our Jity article for an account
of the important resolution of the Bank Directors raisin
the rate of interest to 5 per cent., and the reasons which
are supposed to have induced them to take that step.
In the article which we yesterday copied from the Cou-

Tier it was shown that the increase of exports this year
was very great ; and, assuming this to be a correct repre-
sentation, the exchanges cannot long be against us. They
are now rising, and must continue to rise.
The Globe of last night contains, in the shape of a
letter " To the Economist of the Courier," some severe
strictures on the article in question, which we have else-
where inserted.

It m difficultbyane ifiton obtainori; anyan criterioninflu
x
dif-
ferent from of the
precious metals to ascertain whether there is an excess
a, n
thato doubt,
affordedof exports over imports, or of imports over exports.
But as there is no doubt, from the accounts of exports,
bt, be
that they greatly exceed in amount those of former years,
the presumption is that there is an excess of expos ts,
and we see that that excess is producing its natural effects
in the rising of the exchanges.
The question which the Bank had to consider was, whe-
ther the excess of exports over imports was such as to af-
ford them a security that the exchanges would be restored
to a healthy state without their recurring to a step which
must be severely felt by manufacturers and others through-
out the country. On that point we do not at pre.sent pos-
sess sufficient information to enable us to decide whether
the Bank have acted prudently or not. On a future day
we may enter more largely on the consideration of this
most important subject.
(City Article of the Morning Chronicle.)
The occasion for this measure, which certainly was not
altogether unexpected in the moneyed world, appears to
have been twofold—to give a further check to the exporta-
tion of bullion, the diminution of the quantity of which is
apparent from the last gazetted returns of the Bank ave-
rages, and to relieve that establishment from an undue
pressure for accommodation, arising from the circumstance
of its former rate of interest required upon advances made
being below that which the demand for money enabled ca-
pitalists out of doors to command. Beyond a cautious de-
sire not t.o increase the amount of their securities (and they
have manifested no disposition materially to diminish them),
the operations of the Bank Directors have no obvious ex-
citement ; but they are manifestly placed in a difficult posi-
tion before the public, when the whole responsibility of a
superabundant circulation, if it exist, is imputed to them
at the time when the issues of provincial establishments,
not subject to even the same degree of publicity, are let
loose with lavish recklessness. There is good reason, how-
ever, to hope that this further check upon an extreme fa-
cility of credit, coming, as it does, at a time when the Fo-
reign Exchanges are showing a more favourable tendency,
will speedily and quietly restore the circulation to its whole-
some limits, and cause a reflux of that bullion which, ab-
stracted from this country, must exist in needless abun-
dance elsewhere, and therefore be accessible t.o the legiti-
mate demands of commerce.
(From the Morning Herald.)
Ten days past we predicted that the Bank Direction
would determine to raise the rate of interest upon loans
and discounts ; and that opinion, which we obtained from
the highest authority, has been confirmed by the transac-
tions of the Bank Parlour this day. We have reason to
know that the step would have been adopted on this day
week, but for a disunion of opinion between the members
assembled. The same dispute was renewed this day in the
Parlour by a set of interested men, who pretend to rule
the monetary destinies of Great Britain. We shall pass
over the crude articles which have been published by the
implied organs of the Bank Parlour in defence of their pre-
sent policy, because the theories advanced in them, to
minds imbued with common sense, will be of no avail. The
bluster with which these denials have been made have
placed the Bank Dirtction, and their servile advocates, in
a most unbusiness-like and degrading position, since the de-
nials they have repeated for ten days Lave been falsified
by the public notice.
This determination fully confirms all our previously ex-
pressed opinions as to the weakness of the Corporation in
Threadneedle street, and its total incapacity to sustain the
currency system of this country. That this determination
will check the spirit of enterprise, which now so happily
rules over our manufacturing and commercial operations,
there can be doubt ; but that it will cause the foreign ex-
changes to turn in favour of this country, as the silly and
ignorant advocates of the Bank advance, the most expe-
rienced men in such matters positively (I,'ny•
This announcement on the part of the B Direction
I has created a good deal of heaviness in the British Funds.