The Sun.
London, England, 1825-09-23 00:00:00

EXCHEQUER BILLS.

. -
Mr. Youx&—But I wish to know, has there been' within
that time any great increase or decrease in the sale of Exche-
quer Bills ?
The GOVERNOR—Very little, indeed, one way or the other.
The public are very much deceived on the subject, of these
Exchequer Bills—the thing has been entirely mistaken.
Mr. Yount}—ln point of fact, it is desirable to know whe-
ther any sale of Exchequer Bills has taken place, and if so, to
what amount ?
The GOVERNOR—We sold only to the amount of about
670,0001., and that 'sale occupied a space of nearly 3 months.
I repeat, the public mind.has been very much deceived on this
subject.—(Hear !) •
'ADVANCES ON MORTGAGES.

Mr. YOUNG:--1 ask, what is the- amount which the Bank
has advanced upon mortgages?
The Gov ETU:OIL—It does not exceed 1,400,000!.
Mr. YouNG.—Wilat is the extreme advance which has been
made on stock?
The GOVERNOR.—I think that when this question was put
to me on a former occasion, I stated the amount to have been
between 500,0001. and COO,OOO/., but I afterwards found I was
wrong, and that The amount was only 400,0001.
Mr. YOUNO.—Has there been any increase to that amount
since?
The CHAIRMAN.—The increase has been but little; not
much.

lIIr. YOUNG thanked the Governor for the very satisfactory
answers which he had already given, and then added, " I have
only one more question to put, and that is very important one.
What has been the principal occasion of the- recent extra-
ordinary fluctuation in the money market ?"—(Loud laughter.)
The GOVERNOR.—Why, really, you must put that question
elsewhere; the Bank Directors cannot solVe it. The Cburt of
Directors have gone through their business regularly and quiet-
ly, in a steady and silent manner, without listening to evil or
good report. We -have, I trust, steadily and justly performed
our duty.—(llear; hear !)
Yo oNG.—Then,. Sir, you really do not know what has
been the cause of these fluctuations ?

The GovEttxott.-1-I have not said that; I have not plead.
ed ignorance of such matters. What I mean to say is
that whatever fitithiation has prevailed has not beinkj to any
conduct of the Court of Dircectors.

!Ir. Yauxo--:But the Bank has in no degree been the
cause of it ?

The Goificztaro2.—Most certainly not.
ADVANCIIS ON'STOCIE.

A Proprietor begged to put a question : it was this—whether
the Bank had rescinded their former resolution, of making
advances Upon stock ! It was understood that they declined
making those advances now: What he wished to know was,
was the alteration to be considered a temporary or permanent
rule ?

• .
The GOVERNOR replied,, that no distinct decision had been
made; the regulation was not to be considered as rescinded, but
only suspended for the present, leaving it entirely in the hands
of the Directors, to act as circumstances should justify._
.(Hear, hear !)

The. question was then put upon tho resolution for a divi.
dend of 4 per cent., which was unanimously carried, and the
dividend warrants ordered to be made out and paid on Tuesday
the 11 th of October.

FRAUDULENT Tit A_NBFERS.-FAUNTLICROICI CAM

- - -•-- -.-
On the question of adjournment being put,.
31r. YouNG again rose, for the purpose of inquiring wile,.
titer, since the
_last Court, the Directors Lad taken any steps to
carry into effect the suggestion he had given respecting the pro-
per mode of preventing fraudulent transfers by forged powers
of attorney. When he suggested, at the former Court, the
propriety of given notice to the party in whose name a power of
attorney was tendered of that fact, he was answered that the
thing could not be done—Abet it would stop the progress of
all business. Anll then, when he suggested that notice
should..be given the party, after the, power of attorney was
acted upon, he rts told that then it would be useless, for
the act being completed, the Bank must necessarily (in a
case of forgery) be the loser—that in fact such a course
was like shutting _ the stable-door after the steed was
stolen. Now, after giving the matter six months further con-
sideration, he remained unconvinced by such objections, and
thought that it did not follow, if a man had a stud of ten horses,
and had lest one, he was therefore to leave the other 9 still open
to the depredations of the thief who stole the first. In the case he
had alluded to, that of Fauntleroy, if his plan of giving notice
after each power of attorney had been Acted upon were adopted,
that individual would have been detected after his first fraud,
and the Bank would have saved all the losses, which had ac-
crued from his subsequent ones. Had the Directors then taken
into consideration his suggestion for giving notice to the part'
whose power of attorney had been acted upon, after.the transfer
was effected ?

The GrivEnircin replied, that the subject had undergone
great consideration, and every suggestion' had been well
weighed ; but it was found impossible practically, to realize
any of them.. It should be remembered, that in many in-
stances the parties in whose names transfers were made,
resided at a distance from the spot where the business was ex-
ecuted, so that it would be impossible to communicate the in-
formation recommended. The powers of attorney were always
acted upon immediately, and the Bank must be the loser in
the case of forgery. It was found quite impossible to bring
into practical operation any of the suggestions that had been
made, though the matter had been very attentively consi-
dered, and Would, of course, be always entitled to the 'best
attention.

. After a few words in explanation from Mr. YouNG, and
another Proprietor, the conversation dropped, and the Court
adjourned.

DESTRUCTIYE FIRE AT STOCKPORT.—About four
O'clock on Wednesday afternoon a very destruc-
tive lire broke out in the cotton-mill of Mr.
II0PE• It raged with the utmost violence, and
it was with much difficulty that time whole of the
work-people escaped with their lives. One of
the men had a very narrow escape : he had been
humtmely employed in letting down a number of
time children through the windows, by means of
leathern straps, and immediately after his leaving
the room the flooring gave way. The
whole
building was reduced to a heap of ruins, -and we
understand. that no part
(Blanchester Journal.) Qf it was insured.—

The result of the Meeting of the Cabinet yes-
terday has not' yet transpired, and various ru-
mours are of course in circulation. There is a
-report that the consideration of the question of
the Dissolution of Parliament was postponed, in
consequence of the absence of the Duke of WEL-
LINGTON and the Lonu CHANCELLOR, whilst, on
the other hand, it is said that the Dissolution was
resolved upon, and that the Proclamation would
appear in to-morrow's Gazette. It is, however,
confidently reported, in well-informed circles,
that the Parliament will not be dissolved this
year.

Amidst these conflicting rumours, it is difficult
to arrive at any decision ; but it is evident there
is a strong party in the Cabinet against the dis-
solution, and our own impression is, that this
event may yet be deferred.

A Jamaica mail is arrived with Jamaica papers
to the 10th inst. The following are extracts :

[From the Jamaica Courant of the lit August.]

On Saturday the following communication from Sir W.
Halsted to his Honour the Mayor, vas posted in the Commer-
cial. Rooms. -

SERAPIS, PORT ROYAL, JULY 30.

Snt—His Majesty's Consul General in Mexico having ad-
dressed to mu a letter, of which the inclosed is a copy, I beg
you will please to make the same public in the usual manner,
for the information of the merchants
W. HALSTED, Rear-Admiral.
His Majesty's Consulate-General.—Mexico, May 29.

SIR-I have the honour to inclose a copy of a note I have
received from his Excellency M. Alaman, Minister for Foreign
Affairs, dated the 14th instant, relative to a resolution adopted
by this Government not to admit into the ports of the Mexican
Republic any cargo which shall arrive.from Cayo Heuro sixty
days after the receipt of the circular of the Minister of Finance,
which bears date the 11th of this month. This resolution is
adopted in consequence of information that that island is be-
ginning a depot for Spanish produce from the Havannah, in
order to introduce it into this country in contravention of the
laws . prohibiting the importation of Spanish merchandize.
Thompson's Island is meant by Cayo Huero : but as the Mi-
nister for Foreign Affairs has not laid down the situation of it,
1 have requested an explanation. In the mean time I have to
request you will be pleased to, give publicity to the order, so as
to caution British traders against the unpleasant consequence
of its infraction. \ •

CHARLES T. 0. GORMAI4, Consul-General.

The French, Hamhurgh, and Dutch Papers,

have all been received.

Those from Paris have some letters of Madrid,
wherein it is' stated that M. LOPEZ, Regidor of
Madrid, wa3 arrested on the 6th instant, and
some papers were found in his possession, which
give more information respecting the ramifies-
of BrssiEnli's conspiracy than has been yet
discovered.

The pecuniary resources at the disposal of the
Ultras are herein represented as so considerable,
that, according to information which has reached
the Police, the subscription of the chapters and
convents for BESSIERES' expedition amount al-
ready to twenty millions of francs. This money
the Apostolics dispose of to sustain their intrigues
and plans of subversion, whilst the Government
is in absolute want for the pressing necessities of
the State. It is deducted from'the funds which
they call Cabeza de Diezmas, (head of the tithe.)
This is a reserve always remaining in the coffers of

itthietiClehmapotsetrsu,ragteldntwnleliccehsstilt)ye.y never Louchlelc"t
francs,ecevie:e,
dnotwithstanding the inf *erlr'mh ea
tPi o°11: c ethey h°r'oe;
ze these
set
28
dnawrirleig to I,soolo
privileged sums, which are destined for its over
throW. Thus will the Apostolics remain in, Pes.:
session of their immense resources and the r"
venue whence they accrue. Numerous arrests
are daily taking place.
The Curate of the little town of Marco, in Eh°
province of Jaen, has put • himself at the head 4)(
the Royalist Volunteers, and proclaimed CIIA°I;
V. ; but foreseeing that the troops of the line
would be sent from Jaen against him, be quitted
Marcos, and traversed the neFAhouringvilJag
with his little troop, Which is said to have al'
ready, received an addition of 200 men. • ft is
also said that the Royalist General, CIIANBO, he'
formed a band of 150 men, in the Province of
leli
of s
cia,wit.
with which
de Xativa.
he remains in the neighbeur.
hood
Extracts from the Dutch and Hamburg!' 'Wets.
.will be found elsewhere.
FRENCH FUNDS:—PARIS SEPT. 90.—Fire per C,eri,,tl'
.
jouiss. du 22d Sept. 99f. 50c LThre; -per Cents. 716 latio.
Bank Stock, 2,150 f —Rente de. Naples (Certif. Falconnet),od,
95c.—Rente de Espagne, I7.—Royal Spanish Loan, 1t1237°11,,
—Exchange on London one month, 25f. lac. ; three 110`
25f.—(Cours Authentiqtre.)

A statement in our Paper of this evell47
shewing the relative prices of Corn in Dail"'
and England, is deserving the attention of the
manufacturing interests of this country, us le I
,as that of the agriculturists, displaying, as it,-
itoes
in a very obvious manner, the effect of the ri
• •
Laws in keeping up the high prices of grain
this country. By this statement it will be
ithat the price of Pease in England is very near'}
double the price of the finest Wheat in Dan"igr
and more than:three times the price of the s'll'6'
commodity in the latter place. The price of.O't
here is, mare than four times the price in Dantzig'
e.
and the people of England would pay for Oats
0
same price, and in some instances more that;
people at Dantzig would pay for. the

W heat.
All this is the effect of our Corn Lairs, ohicb
were passed for the avowed purpose of keePiu6
up the prices in England, and we thus see "9
true they are to the purpose for which they `rent
adopted. in this country, however, vie (1°
the
expect to purchase the first necessaries o.r life
A 0
moderate prices at which they can be °Wine", _
other places. But at the same time we tng
to those
prices bete ought to have some relation,►to
abroad/ and be made to bear more proP"``-

them.
a manufactulthe cheuP
ing, country, s of
rl
be bf
provisions is of the first consequences
,1 fors
it the value of labour is ascertained and P3l-
nes
and according as labour is more or less denrZillo
the productions of the national industry u` 5
I i I
iN"
also. Taking-the price of provisions at "•5 ti-
we ask, were it not for the invention and atillP
tion of • the Steam;engine to mechanical PO ~
poses, what Would become of our manufacturie,r
It is clear they could not compete %ith tb°lE'ars.
any other country, where the price of labour

cheaper than with us.
If a new Parliament be formed we tryst
that the electors of the country, will from tie
the present opportunity, and . require :
the different candidates some decided 9P.,
.
,i des
'
nion upon this momentous point, en- (a
with them afterwards as they shall be
-:
vourable or otherwise to a modification of ° t
Corn'Trade system. 'We have seen, thiriar.
selPinte#
the last Session, how powerfully
OS
rest acted, and how the public go
„note
made to give way to this formidgble "bf
nent upon this question, although suPPrted I%
the Administration. We have seen haw the
the
j the latter consideration, when opposed t°
the
former ; and the period of a new election lo
4.0
only time when ally thing like a' check ca."
.vr,
offered to its influence. Much as these lion°7_,
trico7
able Gentlemen, opponents Of a less res ,
to
corn trade, love their rents, we doubt 0°- 0
,harto
honour of a seat in Parliament has ,'
'rill.
fur them sufficiently powerful to 504,
duce this sacrifice of self to Pliblic
Par,
thehow priceev er, of
willg ria)ei n in j
vantage, , even if it were followed
I),Yciailiel9
tial reduction of their rents, and a be
Jodie ,
' des, thei
besides,
,dea
should remember and be thankful for those go;
le _.esrf
times, when the produce of one acre in one Seat, ,
uNreedithbeyr
sold for the value of the fee simple of the lan°.
ift:ranLr or

jr,st Cabin('
thurfrshtpeor
rtyit‘eilriseetee,ridmauyrsheld.
at two o'clock, which sat in deliberation "
t Council this season was t
_,,
%loco'
Cabinet Minist'ls
athtohtebFre:rildign: uOpiritci:l'oDca";:ivegOslltbr:.:l:
present were, the liarl 10'
0,
Liver liarrowby, Westmorland,
cijoicretorir
I Mr. Secretary Peel and Mr.
-- - vie.
Cann in;,
the
Chancellor
Wof the . l Fcheepr' Lord
,lescclv_.ille, Mr. ynn
Bexley , Mriuskiss°l 7
countii N