The Sun.
London, England, 1841-03-26 00:00:00

MONEY MARKET and CITY NEWS.

FROM THE MORNING, PAPERS OF YESTERDAY.
-CHRONI'CLE.—The plan adopted by the Chancellor of
the Exchequer has damped the expectations of some of the
great capitalists, who were expecting an invitation to come
forward in the usual way to supply his wants, by tender for a
loan ; but among the public generally it is admitted that, by
borroiving from the savings' banks from time to time, the effect
upon the Money' Market will be less felt. By the scheme
which the C'hartecllor of the Exchequer has acted upon, prices
will, no doubt, be checked, and an occasional heaviness ex-
perienced; but if, instead of borrowing from the savings'
banks, be had applied at, once for a loan, the funds must have
given way from 1 to 2 per cent. in proportion to the amount
required ; fur, independent of the legitimate result of the ope-
ration in producing a fall in the price cf the public seen-
r:ties, a fictitious decline is always occasioned under such
circumstances by those who intend to become contractors. It
is supposed by some that Exchequer Bills have been granted
to the Commissioners for the reduction of the National Debt,
in exchange for the money borrowed, or that may yet be re-
quired from the savings' banks, in which case recourse will
ultimately be made to the usual course of funding ; and this
belief has occasioned a fall of ls. in the price of the unfunded
debt to-day.
It might appear -that an exchange of Exchequer Bills for
the stock sold could not affect the price of the unfunded debt;
but it must be recollected that if a demand came for money
from the trustees of savings' banks'on account of depositors,
these Exchequer Bills might be thrown on the market. On
this point, hoWever, considerable diversity of opinion is enter-
tained, and must continue, until the views of the Chancellor
of the Exchequer are more clearly explained regarding the
mode by which he intends to replace the stock sold ; and this,
perhaps, may not be done until lie makes his usual financial
expose in the Budget.

POST.—There was nothing passing of moment in this part
of the town to-day. The continued firmness of the foreign
exchanges is calculated to give increased confidence with re-
gard to the currency, bet commerce is in far from a satisfac-
tory state. No profits have been made by the mercantile inte-
rest„it is nicl, fur the last two years, and the numerous failures
wo have had occasion to notice of late have produced much
distrust among- the bankers and money dealers.
The statement made by us on Illonda,.- evening under this
head, relative to the sale liy the British and American Steam
Nay.gation Company of their fine vessels, the British Queen
and President, proves to have been perfectly well founded, as
was to be inferred from the circumst-ance of no contradiction
having beets given to it. The two steamers, which were con-
sidered so triumphant an example of the superiority of the
naval architecture of this country, have, it is fuily ascertained,
been actually disposed of to the Belgian Government. The
company are understood to have been but scurvily treated by
our own Government in respect to the mail contract.

WALSALL ELECTION COM-

MITTEE.

The Committee assembled yesterday at 11 o'clock in the
Committee-room (No. 1. )—Lord Eliot in the chair.
Previous to resuming the examination of witnesses, Mr.
Sergeant Wrangham applied to have an answer given on the
preceding day by the witness Joseph Marlow, expunged from
the notes, on the ground of its being hearsay evidence.
Mr. Sergeant Merewether resisted the application, and after
some discussion the room was cleared ; after an absence of
almost an half-hour, counsel were called in, and the Chairman
announced that the Committee had decided that the answer
made by the witness,' so far as it related to declarations made
by his wife, should be struck out.
Joseph Marlowe was then examined by Mr. Sergeant MERE-
WETHEn..—Was'at the Newitn), on the day of the election,and
remained there from one o'c'ock in the afternoon till next day. Saw
other electors there. Could not tell the names of the persons who
came into the room in which he was, in the New Inn, On ac-
count of his getting tipsy. Went to bed subsequently, and
on awakening expressed a desire to go out of the inn; but a
person outs i,te the room told him he could not get out, as he ( wit-
ness) had not sufficient seep. The door was afterwards opened, and
Mr. Busst came in and assisted witnessto dress. Could not say
what time of night it was then. Went dawn to a large room
where several electors and other persons were sitting and nalk-
ing about. Among those persons v. ere Mr. John Taylor,
auctioneer, and Mr. Wood. Witness expressed a wish to get
home, but was detained on account of the mob quarrelling out-
side the house. When the mob had dispersed, witness went
home accompanied by the two Messrs. Busst. Was told that
the Messrs. Bussts accompanied him home.
Mr. Sergeant WRANGIIAIII objected to anything the wit-
ness was told by others being given in evidence.
Examination resumed—Witness had a recollection of having
been accompanied by the Messrs. Bussts. Went in the morn-
ing about seven o'clock to the Stork Tavern, and took
breakfast there. The Messrs. Busst accompanied witness from
his own house to the Stork. After a short time went up and
polled. A great many others also went up from the Stork and
polled. Paid nothing for what he eat or drank at the Stork.
Cross-examined by Mr. Sergeant WILANGHAM—In the
interval between the first time he got drunk and drinking the
second time was not altogether sober—was, in fact, tipsy
during the whole time. Saw several of the persons whom he
mentioned as quarrelling bleeding from the head. Could not
say whether it was before or after he saw those persons that
he was told it would he unsafe to leave the inn and go home.
Had not a clear recollection of what took place at the time.
Is an elector of Walsall ever since the first election in the
borough, ar d always voted for the Conservative candidate.
The ma lAN suggested that at that stage of the pro-
ceeding= the Csansel for the petitioners should proceed to esta-
blish the que aim) of agency.
Mr. Coos: auRN raid that the agency of Mr. Barnett was
admit don the other side.

Sir eon Burns examined—ls a voter for the borough of
Wa'srll, and isas canvassed by Mr. Gladstone at the last
elec ibr. When Mr. Gladstone called he saw Mr. Edmund
Swift standing on the street. On the evening of the nomina-
t. on day Mr. Busst called and took him to his house•
He stopped there for two hours. Then went with Mr.
Busst and Mr. William Roper to the Ge ;rge. Knew Mr.
Barnett, but did not recollect seeing him then., en that occa-
sion. Mr. Busst took him to Mr. Barnett at the George. Did
not speak to Mr. Barnett. Heard Mr. Barnett desire
Mr. Busst to get a car to take him to the inn. Wit-
ness went to the New Inn on foot with Mr. Busst.
Saw a good many people in the . long room there.
there might be about forty or fifty persons present. There
were liquors on the table; took some wine. Mr. Dickson
was in the chair. The persons present were, he believed,
generally voters. Saw Mr. Franklin, Mr. Swift, Mr.
Box, and others there. Did not remain at the
New Inn all night. Went home and got to bed.
In the morning Mr. Busst and his son came for wit-
ness, and took him to the Stork. Took breakfast there. 'I he
room was not very full. Witness did not pay fur anything he
tcok at the New Inn or Stork.

Cross-examined by Mr. Sergeant WRANGHAM—Left the
New Inn in the course of the evening. Could not say at what
hour. Mr. Busst and Mr. Francis accompanied him. Before
leaving the New Inn saw a row outside the inn. There were
several persons bleeding—among them saw Mr. Kilner, the
landlord of the inn, bleeding from the head. The cut was a
severe one. Upon leaving the inn a crowd of persons followed
him, Mr. Francis, and Mr. Beset. They took up Francis and
carried him off. Those people were the opponents of wit-
ness's party. Mr. Busst got off, as also did witness. There
was a great deal of violence going on during the evening.
Many of the friends of Mr. Gladstone were knocked down by
persons of the opposite party.
Re-examined by Mr. COCKBURN—When at the inn saw
some of the voters tipsy. It was in the night time, after it be-
came dark, that he saw the persons knocked down. There was
nothing of that sort took place in the early part of the evening.
Samuel Tonks examined—ls proprietor of the Rising Sun
beer-house. The evidence of this witness went to corroborate
the statement of the last witness as to seeing a number of voters
eating and drinking at the New Inn on the evening of the
nomination. Witness partook of the refreshments provided on
the occasion. Was brought to the New Inn by a Mr. Jahn
Stone, who was not a member of Mr. Gladstone's Committee.
Witness provided breakfast at his house for a number of
voters. The bill was 2SI. Did not exactly know to whom he
should apply for that sum.
By an HoN. MEMBE a—Considered that he ought to look to
Mr. Brace for payment. Mr. Brace was a saddler's iron-
monger. Saw nobody on the subject of the breakfast but Mr.
Brace and Mr. Emery.
By COUNSEL—Brace said he would be responsible for the
cost of the breakfast.
Henry Busst examined by Mr. COCKBURN—Is the son of
Mr. Joseply Busst, who took a little part in the last election of
Walsall. His father did not vote at the last election
because he was registered wrong. Saw with Mr. Glad-
stone some persons in the street canvassing for that
gentleman. Mr. Potter, Mr. Windle, al.d others were
amonr, those persons. Mr. Potts was also of them. Was at
the George on the day of the election, but not during the time
of canvassing. Was at the• New Inn the evening of the nomi-
nation. Went there at about three o'clock intthe evening, and
staid until four o'clock next morning. Went there merely
to have some drink. Did not pay far what he had. Did not
continue drinking till four o'clock in the morning. Walked
the greater part of that time about the inn.
Mr. Sergeant WRANGHAM objected to Counsel on the
other side continuing to prove the act of drinking on
the part of some of the voters without seeking to connect that
drinking with the sitting member or his agents. The Learned
Sergeant proceeded at some length to show that nothing had
been given in evidence to connect the sitting member in any
way with the conduct of the electors in the George or New
Inn, and submitted that counsel on the other side had no
right to continue the course they were then pursuing by them.
The CHAIRMAN said that the Committee did not wish to
preclude counsel from bringing forward whatever evidence
they might think necessary. It was, however, the opinion of
the Committee that the agency ought in the first instance to
be proved.

Sir. COCKBURN submitted that he had connected the evi-
dence as to drinking with Mr. Barnett, who was admitted to
be Mr. Gladstone's agent. The Learned Counsel contended
at some length that he was entitled to consider whatever was
done at the New Inn, on the evening of the nomination, as
connected with Mr. Barnett.
Mr. Sergeant WRANCHAM addressed the Committee in
reply.
The Committee, after deliberating for some time, decided
that there was not sufficient evidence to connect Mr. Barnett,
the agent of Mr. Gladstone, with the drinking, and other oc-
currences, at the New Inn on the evening of the noinination.in
A witamed Plaice, wose estimony was to he
effect asness thatn already adduced,h wast then examined,t andsath:
Committee adjourned at four o'clock.

DRURY-LANE THEATRE.—On Wednesday the
, apassionate,rket s
Ac esn teh eawynados
occu-
pied en-
thusiastically opera of Massaniello was performed at this theatre, and though
partcu larT3lrleinth Cont.
we prefer it much in its original shape and dress, we
.cannot
whhhold great praise for the admirable manner in which the
performers went through their parts. The music is essentially
French, and incompatible
pant', nevertheless,
de-
scriptive character pedciudliirt tog composers.
reGlet.rmivasntice,
srvaityherlatthdeeel:
encored. The Queen and Prince Albeahonoured
chorus, one cf which, the p
the house with their presence on thi, occasion.
pied their private box, the audience refrained from
intru-
sive notice, although a few were inclined to b m tiy.
Her Majesty looked remarkably well, and eso indiscreet.
ringlets. The house was very well attended.wore her hair in
THE PERPETUAL ItOsE
bib; succeeded in producing a .—A Parisian florist
Bourbon rose and Gloire' new hybrid rose from the
which I,e had fertilized ' r,e Rosomene, the flowers of
and hybrid China with the pollen of some damask
......the colour brightroses. The plant is extremely beautiful
and is further . crimson,. shaded with maroon purple,
d with a powerful fragrance.