The Sun.
London, England, 1838-08-21 00:00:00

LATEST NEWS FROM AMERICA.

ARRIVAL OF THE ROYAL WILLIAM STEAM-
SHIP AT LIVERPOOL, FROM NEW YORK.
( From the Liverpool Albion.)
On Sunday evening, at six o'clock, the telegraph announced
that the Royal William steam-ship, Lieutenant Swainson,
R. N., which sailed from Liverpool on the evening of the sth
of July for New York, had arrived off Holyhead, on her re-
turn voyage. Crowds proceeded to the pier-heads, to witness
the arrival at Liverpool of the first steamer from New York.
The whole sea-wall, from the George's pierhead to the Cla-
rence dock, was densely crowded. At half-past seven the
packet-ship Shakspeare, which sailed from New York on the
26th of July, was seen coming up the New Channel. Close
behind her followed the Royal William, with flags flying and
foresail set, steaming along at her greatest speed. At this
time night had begun to set in ; but, so anxious were the
multitude of spectators to witness the arrival of the Royal
William, that few or none left the pierheads. When in
Bootle Bay the steamer threw out blue lights and fired
guns. The Royal William was saluted with loud cheers by
the people assembled on the Clarence-parade, and again by
those assembled on the George's. She anchored off the
pierhead at half-past eight o'clock, and was soon surrounded
by boats, full of people, from the shore.
The Royal William left New York on the 4th inst., at six
o'clock in the evening. She has made a most beautiful run,
having performed the voyage home in days. The distance
run in four successive days was 1,005 miles, a rate of speed
scarcely ever exceeded by any other steamer.
The outward voyage occupied 181 days ; 11 of those days
were extremely boisterous, and retarded the steamer's pro-
gress to the westward.
Thirty.five cabin passengers have come in the Royal
iVilliam. They speak highly of the capabilities of the steamer,
and still more highly of the skill of Lieutenant Swainson, her
Commander, and Mr. J. C. Shaw, the Marine Surveyor to the
City of Dublin Company.
PASSENGERS PER ROYAL. WILLIAM, PROM NEW YORK...-.
Messrs. Woodruffe, Webb, Gordon, Hamilton, Rock, Day, of
London ; Messrs. Leech, Fusdick, and Barber, of New Or-
leans; Mcssrs. Mortis, Brown. Br.sdbronk, Montant, and
Scholcs, of New York ; Messrs. Nicholson and Cruickshank,
of Surinam; Mr. De Mechelle, of Smyrna; Mr. Buchanan,
of Glasgow ; Mr. Edmondson, of Berwick-on-Tweed; Mr.
Loth, of St. Quentin, France ; Mr. Jones, of Mobile. ; Mr.
Forstall, of Havannah ; Mr. Small, of Richmond, Virginia ;
Mr. Haas, of Washington ; Mr. and Mrs. Barr, of Boston,
United States ; Mr. Jerald and servant, of Trinidad; Mr.
Naters, of Newcastle-on-Tyne ; Mr. Drogart of Paris; Mr.
Levie, of Montreal ; the Rev. E. Neville, Mr. M'Cree and
Mrs. Hollywart of PhiLdelphia.

UNITED STATES.
(From the .Neu, York Journal (y. Commerce.)
BANK ORGANIZATIONS.-The Directors of the Mechanics'
Ea king Association yesterday elected Shepherd Knapp, Esq.
to be President of that Institution. A better selection could
Lot have been made.
The Branch of the United States Bank of Pennsylvania is
arrange-d, with Morris Robinson, Esq., ai President, and
Samuel Forthingham, Esq , cashier of the late Lranch Bank
at Boston, as cashier. Both these gentlemen have the highest
respect and confidence of the extenced circles with which they

for years transacted a most important business. We under-
stand there is not, for the present at least, to be any Board of
Directors attached to this Institution.
The officers of the North American Trust and Banking
Company, Messrs. Beers, Van Schaick, Mead, end Tylee, will
command the entire confidence of the community.
The American Exchange Bank is brought forward, too,
under the auspices of a large number of our most respectable
avid vigorous merchants. Its capital is to be paid in cash,
and all the arrangements appear to be such as will make it a
very safe, and useful, and profitable bank.
The only fault we have to find with any of the plans pro-
posed is, that so much disposition is manifested to grasp at
enormous capitals. We have no need of fifty mil-
lion capitals. If they were to be paid in cash, and used
actively, they would be dangerous both to the public and the
stockholders ; and if they aro to be permanently invested, and
only the credit which they create made use of, then again no
possible good can come of such very great amounts, though
neither, perhaps, would the evil be great.
" Treasury Department, Aug. 1, 1838.
" The whole amount of Treasury notes autho- DOLLARS.
rised by the Act of October 12th, 1.837,
having been issued, viz.
" And there having been redeemed of them

about
" The new emissions made in the place of
those under the Act of May 12, 1838 have
been

7,100,000 00

" This leaves a balance of all outstanding,
equal to only
" LEVY WOODBURY, Secretary for the Treasury."
UNITED STATES BANK BONDS.--.The Philadelphia United
States Gazette assigns five reasons why the United States
Bank bonds, to the amount of between four and five millions of
dollars, now in the hands of the Government are not likely to
find purchasers at par, and under par they are not by the Act
permitted to be sold. These reasons in brief are-1. That as
they cannot be sold under par, they cannot by any passibility yield
more than 6 per cent interest, which:is the rate they bear. 2.
The investment is too short—not more than an average of
eighteen months. 3. If sent abroad, the shortness of the
investment would be decisive against them. 4. They are
liable to offsets on the part of the bank. 5. They may be
paid in the engagements of the Government itself ; for
instance, a Treasury draft on Florida or Arkansas. A sixth
reason which might have been added is, that Mr. Biddle keeps
the market full of bonds equally good in other respects,, and
which bear seven per cent. interest. Monied men can have
these at par ; why then should they take 6 per cent. bonds
of the same bank at par ?

THE UNITED STATES GOVERNMENT AND
THE UNITED STATES BANK BONDS.

(From the Philadelphia United States Gazette.)
We find in the National Gazette of yesterday afternoon
the subjoined paragraph :
" It is rumured that the bond of the Bank of the United
States, due in 1839, for two millions of dollars, has been sold
by the Treasury department, at par, to Charles Macalester,
Esq., of this city."
The above rumour, we are happy to say, is well founded.
The same offer was made for the bond due in Is4o, fora like
amount, but declined, the Secretary of the Treasury not
having decided that the public exigencies will require its sale.

BANK CONVENTION.
A GENERAL RESUMPTION ON TIIE 13TH AUGUST.
The Bank Convention assembled in this city (Philadelphia)
yesterday, at 12 M. The place of meeting was the Bank of
Pennsylvania.
John B. Morris, Esq., President of the Mechanics' Bank of
Baltimore, was elected President of the Convention ; and
Elihu Chauncey, Esq., of this city, Secretary.
The banks of the following States were represented, either
by delegates or by letters, binding the institutions to abide by
the decision of the Convention :--Nlassacliusetts, Connecticut,
Rhode Island, Pennsylvania, Delaware, Maryland, Virginia,
Kentucky, and Missouri.
After considerable debate as to the proper and appropriate
day for a general resumption, the following resolution was
unanimously adopted:—
" Resolved, that the banks represented in this Convention
will resume specie payments on the 13th of August next,
and recommend that day for the adoption of the banks gene-
rally."
The 13th of August, it will be remembered, is the day re-
commended in the Governor Ritner's proclamation. It will
be a glorious day for Pennsylvania, and, indeed, for the whole
Union. HUZZA for specie payments and more prosperous
times

MONEY MARKET, FRIDAY, AUG. 3, 6 P•m•
The business in exchange for the sailing of the Royal Wil-
liam opened with sales at 7i per cent. At this the rate is
firm, though in a few cases 8 per cent. is asked, but so few
not generally paid. The probability is, that the remittances
sent by the Royal William will be extensive. On France,
sales at sf. 25c. to sf. 27?se.
In domestic exchange there seems to be some rise in rates,
particularly in Southern funds, from the absence of buyers
and the quantity offered. The rate of discount has rather in.
creased within a few days. We quote Charleston 21 per
cent. ; Alabama, 934. to 10 per cent. ; Georgia, 44f. to sf. ;
New Orleans, to 44.
" Business generally, in Wall-street, continues flat. The
animation visible within a few days has disappeared as the
week approaches its close. The operations at the Stock Ex-
change, which are considered an index of the market, are
such as show a falling off in the activity produced by the sales
of the United States Bonds, which operation is viewed in the
light of a cessation on the part of the Government of its
hostile feelings towards the mercantile community, and was
therefore considered as the harbinger of much good ; but the
vindictive feeling displayed by the party Presses, with the
untiring opposition to mercantile enterprise, NiiiiCh is part of
the creed of the Administration papers, seems to throw a
chill over the otherwise enlivening warmth of returning
trade; it is this which causes the frequent and great fluctua-
tion in our stock-market.
EXCHANGE.—The transactions in European bills yester-
day, for the steamer leaving to-day, were without variation
from the rates previously obtained, being on England 7i to 8
per cent. premium ; France, sf. 25c. to sf. 264 c. ; Holland,
40; Hamburgh, 35y; and Bremen, 79c. The business
throughout was unusually limited on all places, as was also the
amount offered."—Price Current.
COTTON—Little doing; no change in prices. Flour—
Demand small and prices steady. Ashes—Pots 525 dolls.
Pearls 6 dolls.
CHARLESTON MARKET, JULY 28.—Cotton—During the past
week transactions in Uplands were extremely limited. Nearly
all the inferior Cottons have been taken out of market, and
there seems to be no desire to take better qualities at
current rates. Rice—The operations in this article exhibit
no improvement. Flour—A lot of 100 barrels Howard_street
sold at from 81- to 9 dolls. per barrel. Salt—We have
nothing of importance to remark ; the article is slow of
sale. One cargo of 2,500 bushels arrived this week, and
we learn brought 150 dolls. per sack. Freights to Liverpool,
id. to id.
MOBILE, JULY 27.—Cotton—Arrived during the week 79
bales, and exported during the same period 227 bales, as fol-
lows :—To New York 150, Boston 68, leaving on c,hand and
on shipboard, not cleared, the stock of 1,305 bales, against
7,896 at the same period last season. The country is pretty
well cleared of the old crop, and we may well expect very
small receipts until the new crop comes forward. This will
be comparatively early, should the weather prove as favourable
as it has been for some time back. The health of the city re-
mains good.
Exchange.—The rates of exchange against us have rather
given way since our last. The certainty that the coming crop
will place the balance of trade in our favour, and that the
Bank cannot put off resumption longer than the Ist of July,
1839, ought to reduce the rate at once to about 6 per cent.
for checks on New York. Reflections of this kind have
caused certificates of deposits to regain favour, and they are
readily convertible in New York at 11 per cent. discount, and
form now the most favourable species of remittance. Freights
are nominal, and quotations unnecessary, from the absence of

vessels.
NEW ORLEANS, JULY 26.—Cotton—We continue to
have a good demand for all kinds, and prices are a little in
favour of sellers the last two days. The sales yesterday
amount to full 1,200 bales. We note 650 bales of North
Alabamas, •middling, at E4-e. ; 58 bales of Mississippi,
middling, at 910. ; 85 and 23 bales of Mississippi,_ middling
fair, at 10c. ; 150 bales of Mississippi, good middling, at
10c. ; 75 bales of Louisiana, fully fair, at 11-. W. Freights
dull. The British bark Dale filled for Liverpool at 3c.1.
The packet-ship Huntsville put up for New York at for
cotton, not being able to get over d. offered for a full cargo
to Liverpool.

THE CANADAS.
The Quebec Gazette of the 27th ult. says :—" His
lency the Governor-in-Chief arrived this forenoon a little
after 11 o'clock, in the steamer John Bull, and landed about
twelve. The heads of departments, with a guard of honour
of the Grenadier Guards, received him at the Queen's wharf ;
and the usual salute was fired from the Cape, the ships of war
is port manning their yards. His Excellency was cheered by
those who were in attendance to witness his landing. Excel-
(From the Montreal Courier of July 26. )
DISTRIBUTION OF PRIZES AT TIIE MONTREAL COLLEGE.--
The examination which commenced on Tuesday was resumed
yesterday morning, at eight o'clock. The junior classes un-
derwent a very creitable examination, after which the sitting
was adjourned to two o'clock. Long before that hour the
theatre was crowded to an overflow, in consequence of the an
nouncement of his Excellency the Governor-General's inten-
tion to be present. Three students then came forward to be
examined on mathematics. The first was examined on tri-
gonometry, and acquitted himself in the most satisfactory
manner.

This examination of the mathematicians bad lasted about
an hour, when it was interrupted by the announcement of the
arrival of Lord Durham. The band then left the theatre to
meet his Excellency, and rtturned in a few minutes. As soon
as his Lordship was seated, two of the students came forward
and complimented him, one in an English, and the other in a
Greek oration. His Excellency was accompanied by the
Countess and family, Mr. and Mrs. Ellice, General Clitherow,
and the officers of his Lordship's staff.
Lord Durham crowned the successful students at the bead
of each department, and at the breaking up of the meeting ex-
pressed himself highly gratified. He. requested that an extra
holyday might be granted to the students at the close of the
present vacation, which was, as may be supposed, received by
the assembled pupils with loud acclamations.
COTEAU DU LAc, JULY 21, 1838.—About three o'clock, the
Governor-General arrived here in the steam-boat Neptune, a
vast multitude having previously assembled on the wharf, to
VS deo= his Lordship's return to Lower Canada. Lord Dur-