The Sun.
London, England, 1841-04-14 00:00:00

BANKS OF FRANCE AND

ENGLAND.

The quarterly periodical returns of the Bank of
France, just published, afford a striking illustration
of the superior advantages and safety which that
establishment confers upon the trading and commer-
cial interests when contrasted with the Bank of
England. We have frequently adduced the system
of management pursued by the Bank of France as
a proof of the benefits which would be enjoyed by the
people of this country, if the Bank of England were so
assimilated to it as to be placed under Government
control, thereby insuring to the public perfect publicity,
and a consequent steadiness of prices by a more uniform
and prudent course of management.
Taking a few of the average results of the Bank of
France during the last quarter, we find, Francs.

The average amount of bullion on hand was 230,182,500
The average amount of Bank Notes in circa-

Lation

Difference 3,045,000
So that the bullion on hand was within 120,000/. of
the notes in circulation. We do not argue that
such a perfect state of " convertibility" could be
supported by the Bank of England, but, if the Di-
rectors were compelled to furnish actual bona fide
quarterly returns of the real state of their affairs, it
is plain enough that they would be more prudent than
hitherto, and that the mercantile interests would be
exempted from these " ups and downs" in the value of
money, which, in past times, have exposed them to such
frequent vicissitudes.
The average returns of the Bank of England, pub-
lished in the Gazette, appears to have been framed
with the greatest mystery that the ingenuity of the
accountant's department could produce to conceal
from the public a knowledge of the real position
of the affairs of the establishment. The returns
of the Bank of France, on the contrary, are made clear
and intelligible to every one. The amount of bills dis-
counted is given ; the securities held are separated and
classed, and stated so as to be understood. In the case of
the Bank of England, again, the returns are purposely
prepared so as to make it impossible for them to be
understood All that can be gathered from them is
the general result of an increase or decrease of liabili-
ties, of the circulation, and sccuiities in proportion
to the bullion. Thus far the public may go—but no
further. We entertain a confident expectation
that the Committee on banks of issue will apply
themselves to a redress of this grievance, by com-
pelling the Bank to make periodical intelligible ex-
hibitions of its actual position, framed upon true
commercial principles, as a balance sheet, so that the
merchants of Londen may know what bullion is
really in the coffers of the Bank, with the same
precision that they can tell the time on the clock.
But perfect publicity is not the only reform which the
public will look for in regard to the currency on the
expiry of the Bank Charter. The Bank of France
must be adopted as a modcl to a much greater viten, .
The question cannot be slurred over nor blinked.
There must be a full and searching inquiry, and a free,
unfettered Parliamentary discussion.
We have, however, inculcated this doctrine so fully
and frequently on former occasions, that we forbear from
dwelling upon it at present. We shall only repeat apart of
what we said on the 18th of January last, that" the affairs
of the Bank of France show the working of a national
bank, conducted under the immediate superintendence and
control of officers chosen by the Crown, subjected to
periodical publicity, in contrast with the Back of
England, managed without any such right of inter-
ference by the Crown, and affording no account to
the public of its actual position: Difference of
opinion in and out of Parliament will, no doubt,
be entertained as to the extent to which the prin-
ciple of Crown interference ought to be carried in
renewing the charter of the Bank of England, but
we are confident it will not long be anything more than
a difference of degree. The expediency of having the
national currency subjected to the control of Parlia-
ment through the supervision of officers appointed by
the Crown, we believe will soon be generally admitted
by the leading men of all parties." Subsequent obser-
vation strengthens our confidence in the accuracy of
his opinion.—Morning Chronicle.

AN INCIDENT IN ARRAN.

On Thursday last, the fait day, a somewhat him•
venient, but withal laughable, mischanter, befel a large
party of pleasure-seekers from Glasgow, at Brodick, in
the Isle of Arran. At half-past six, A.M., the Sir
William Wallace steamer left Broomielaw, literally
crowded from stem to stern with well-dressed passen-
gers for a day's sail to Arran, with the intention of re-
turning the same evening. Ail the way down the
Clyde and Firth the passengers became thinned, by
landing in detachments at Greenock, Largs, Millport,
&c., but still upwards of 100 accompanied the vessel to
the limits of her trip at Brodick, where they landed,
and were allowed two hours to stroll about and survey
the beautiful geological features of Arran. At two
o'clock the party were called on board for the homeward
run, but to the dismay of all it was discovered that the
paddles were immoveable, and that the vessel could
not be propelled the length of herself, from a leakage
in the boiler, occasioned by the giving way of a step.
bolt, through which the water escaped. Vigorous
efforts were made to repair the rent, and night began to
close in, but still the Sir William lay motionless in
Brodick Bay. Hunger and discontent now began to
creep over the party,- but they had to put up with them
as best they might and make preparations for passing the
night in the vessel, in which they stowed themselves
away, some in the cabin and some in the hold, so far as
the accommodations of the Sir William permitted.
This it will be conceived was no easy matter, as the
party consisted of all classes—husbands, wives, a goodly
sprinkling of children, and gallants gay with their sweet-
hearts. Friday morning rose, and relief was as far
away as ever ; but the passengers and crew got up
with appetites keen as a razor. In ordinary cir-
cumstances the detention of the vessel would have
been a matter of little moment, for all could have been
relieved by the mail steamer ; but it unfortunately
happened that she was at this moment temporarily
under repair; and a small wherry of very limited ac-
commodation carried the bags from the Island to Ar-
drossan ; and although she might have taken more than
she did, the great majority of the holiday folks had
only put as much in their pockets as to bring them back
by the steamer, and even had they landed at Ardro3-
san, they had no means of paying the railway fare to
Glasgow. In the course of the day they eat up the
only baker in the place twice over—at least they twice
consumed his stock ; and a quantity of biscuit which he
was sending to order was stormed in the cart in which
it was placed, and munched on the spot. The head inn
was equally beset, and the whole of the sweet marine
village of Brodiek was in a state of fearful commo-
tion ! When provisions became scarce here the
party dispersed themselves inland, and the country
people were glad to bespeak their forbearance by
giving them cogs of porridge, cakes, and " dads
o' kebbock," or boiled kail, and one old gentle-
man gave them two pails of potatoes. Indeed, some of
the more desperately famished of the group spoke of
slaughtering a sow, a few sheep, or a bullock ; but we
are happy to say that they bad not occasion to resort
to this absolute extremity. Brodick Castle, the Arran
residence of the Duke of Hamilton, was also tried, but
as the " quality" were absent, all that could be levied
here was a bundle of herrings. The pleasure party
paid for what they got as far as they could, and though
some of them could not stand out the expenses, it must
be remembered they could not starve. Friday night
was setting in, and still there was no relief, when,
fortunately, the Victor was observed steaming into
the bay. Mr. Young, the proprietor of the Wallace,
had set out for assistance in the morning, and
brought or sent down this vessel ; but it was too late
to set out, and the whole party, minus the small num-
ber who had gone by the wherry, were compelled
to pass another night in the cabin and hold of the
steamer. The beleaguered passengers at length started
at four o'clock on Saturday morning, and were landed at
the Broomielaw in the course of the forenoon, in a rueful
plight. The holiday garments, which had never been
shifted for two days and eights, were sorely dashed, and
some of the men had beards of a hermit's longitude,
after a weary pilgrimage. Altogether, the islanders
were as glad to get rid of the Glasgow folks, as the
latter were to get away, and the incident is not likely
soon to be forgotten by either party. It is only fair to
state that the accident which caused this annoying re-
sult on the part of the Sir William Wallace, was of a
perfectly trifling kind, and such as not to damage her
fair fame ; but, slight as it was, there was no
:means of
repairing it at hand.—Glasgow Herald.

PASSENGERS BY THE ORIENTAL.— .01d-
lowing passengers came by the Oriental, which arriv.
,
from Alexandria at Falmouth, on SundaCol. Wy night
Charles Napier, Commodore, R. N. ; allace
H. E. 1. C. with Lieut. Falkfcld, Dr. Baddcloy,L ieu2td
P .
onsonb and Capt. Forster ; Lieut. Simmons,
Queen's}',
Regiment, with Lieut. Hodsavorthy, Lieut.
Dickenson, and Capt. Hirling ; Capt., Houston, 4th Light
Dragoons ; Dr. Rankin, Rifle Brigade ; C d
apt. NLieassic,
R. N., with Capt. Bradley, Lieut. Green, anut.
Johnson ; Mr. Boose, Barrack-master; Rev. Mr. Far-
rant and family ; Lady Sarah and Mr. Campbell ; Messrs.
Dalras, Holmes, Sturnorif, Cowan, Cursetjor, Oliver,
Ross, and Cleland ; Mr. and Mrs. Pennington ' • Rev. Mr.
Hill; Mrs. Brown • Mr. and Mrs. Parry ; Mr., Mrs.,
and Miss Fatish ; Mrs. Mulligan, Mrs. Sterlirg, Mrs.
Farmer, Mrs. Williams, Mr. and Mrs. Gent, Mrs. Cun-
ningham, and Miss Weeks.
BOULOGNE, APRIL 10.—This day, at a quarter
before noon, the Magnet had actually landed her passen-
gers on our quay, after a cassage of no more than nine houra
for the difference
and 40 minutes from London, allovNing
of London and•Boulogne time 11 minutes. The Magnet
is a tine vessel, and the quickest in the Boulogne trade,.
but all who are in the habit of making the passage, and
are competent to form a judgment upon such matters,
ascribe her rapid trips in a great degree to the admirable
seamanship of her commander, Captain Robert Stock, a
gentleman no less diltinguishad by his urbanity and at,cu-
tion to his passengers than by his indefatigable care and
professional skill.

Theft