The Sun.
London, England, 1847-12-24 00:00:00

[ Pit ICE SD.

Tor
up
sheelrenssal i aaNnVdiliCehx: tlenpsrievsee,n tandma f the annumthe
e
that by ' o.lo'
visa-
be effected. He believed that much of the
characterisedr
o t
Vxcer
a a
of the Corporation ought to be abolishes \B,Y
Pith-
salaried officers might easily be dispensed v 111`'
What, for instance, did they want with the Reme 'LT•
brancer, who received 1,0001. a year for telling the
what was done in the House of Commons and othe.
places ? Why, the Times newspaper told them all
this much better, and so did the votes of the
House of Commons.—(Hear, _hear, and laughter.)
Then there was the Comptroller, an of of very
little use, and other expensive appointments which
might be very advantageously abolished.—(Hear,
hear.) Mr. Galloway, in conclusion, proceeded to
recount many abuses which he alleged the Common
Council had it in their power to reform. He feared,
however, that body was subsefvient to a higher
power, and feared to prosecute their case before
est a
Par-
liament in the recent dispute between the- two courts,
!
a ge
reformation neral
Mr. PRENDERGAST thanked the 135
gE,ntlemen
recommendation
momf then da
Corporation.ti
who had supported him, and had no doubt the ether
e(n
might
follow for
electors had good and conscientious motives for not
having done so. He repeated his belief that' the,
sanitary question was mixed up with a great deal -(3.1
humbug, and said it was highly ridiculous to talk a'•
widening the streets, pulling down alleys, and doing
other things, all of which were quite impossible. In
many streets where sewers had been recently con-
structed they had not been made available—not even
by gentlemen who talked a great deal about sanitary
reform.—(Hear.) He was very desirous of seeing
sanitary improvements carried out to the fullest ex-
tent, but he would be no party to the holding out of
hopes which could never be realised.
The other candidates having returned thanks, ail&
some routine business having been disposed of, the,
proceedings closed with a vote of thanks to Alder- ,
man Sir James Duke, who 'duly ack.u.owledged then,
compliment.

PORTSOKEN (8).
The poliing in this ward -was resumed at tb „roe,
o'clock yesterday afternoon, and closed at five o•cl
sock
Mr. Alderman Moots announced the final nur
abets
as follow :
Wright (Deputy), 155; Jutsum, 1,52 ; Kilb j, 140 ;
Christie, 149; Parker, 149; Thomsom, 133; Hi v.
ward, 133 ; Danford, 108 ; *Vile, 76.
The worthy Alderman declared the firsi:eght nis
tlemen duly elected.
Mr. Deputy WRIGHT returned thanks, an d in al-
lusion to the repeated opposition of Mr. Vi, 'e, who
had now been defeated for the fifth time, said hi hoped
that gentleman, unless he had some good cat, 'se for
doing so, would not again come forward to di sttu.b
the unanimity of the ward.
Mr. Wright's colleagues having severally retur. t ied
thanks,
Mr. VILE said he thought, so far from being angr, v,
the inhabitants of the ward ought to be very mina h
obliged to him for bringing them together, and thua
enabling them to know more of their worthy Alderman.
and their representatives in the Court of Common.
Council than they could expect to do if the proceed-
ings of St. Thomas's-day were gone through in one
single hour.—(Hear, hear, and laughter.) He was
very well satisfied at his position on the poll, and he
begged to assure his more successful competitors that,
notwithstanding their appeal, so long as he resided in
the ward he should continue to offer himself for re-
election.—(Laughter.)
Mr. Deputy WRIGHT then rose to perform whet
was to him a most pleasing duty, viz., to move a vote
duties which have devolved upon to mofanthoafntkhsistowtalriedi,rfwor-orththeyabAlelTman. The vote ran
thus—
" That the best thanks OT this wardmote be given
to the worshipful Francis Grahams Aloon, Esq., alder-
of the various
to promote
.the
the city of London, for his exettions
comfort of the poor by suggesting sanitar: regulations
blaatblir
for the cleanliness and improvement of thee. --ntas-,
tions, for his urbanity at all times to his constit
and for his impartial conductwhile presiding 4s.
over ths..
wardmote." h; £5 alderman of

Mr. WRIGHT, in submitting the question, paid
flattering and well deserved tribute to the worthy
alderman ; and the proposition, having been seconded.
by Mr. Parker, was carried by acclamation.
The Worthy ALDERMAN said he felt peculiarly
gratified at the manner in which the vote of thanks
just moved had been received by the wardmote.—
(Hear, hear.) He could only assure them, in return,
that he should at all times feel it his duty and privi-
lege to uphold the interests of the ward, and assist, by
every means in his power, in promoting the prosperity
of the city of London.—(Hear, hear.)
The proceedings closed with a vote of thanks to the
members of the Common Council for the ward.

MONEY-MARKET and CITY NEWS.
CITY, THURSDAY EVENING.
TIMES.—The alteration of the rate of discount to-
day by the Bank of England is a step of very ques-
tionable expediency, but it is one which will cause no
surprise, since so long as the direction is constituted
in its present shape there can be little question that,
however tardy may be its decisions in raising the
charge for accommodation, time will never be lost in
seizing an opportunity for its reduction. That the
accounts of the Bank, as they stand at this moment,
exhibit it in a condition to extend its advances may
readily be admitted, while it is also clear that if such
extension is to take place it must be at a rate such as.
that which has to-day been decided upon. But these
accounts are only to be regarded as of a temporary
character, preporatory to the payment of the dividends
within a fortnight from this date. With a reserve of
seven millions against banking liabilities, for deposits,
&c., not exceeding seventeen or eighteen millions,
some relaxation under ordinary circumstances would
seem perfectly warrantable ; but when a large pro-
portion of those deposits are to be called for in a few
days, the case is greatly altered. Hitherto, at the
period of the dividends the Bank has usually had
large amounts falling in from loans advanced

during the shutting,- but this year there are
no such outstanding resources, and in its pre-
sent position, therefore, we see all that it has
to rely upon. At this time last year the re-
serve in the banking department was more
' than two millions higher, and the securities
held were nearly two millions lower, than the
amounts at which they stand in the Gazette return of
this day week; and although an improvement may
be shown in to-morrow night's publication, and
further payments on revenue account, as well as for
bills daily running off, are yet to be expected, the
state of affairs will not seem such as to render the
might have been formed
of its desirableness, and safety. Even the argument
delaypres en
a t
of a consideration for public convenience, which,
fare experiment
bettererim en
jtundgecmesesnatry, when by two weeks'
although always a pernicious one when used in bank-
ing matters, is oftentimes made use of, does not
exist in the present case, for there is no want of ac-
commodation in ordinary channels at 5 per cent.;
and the only public effect therefore of the measure
seems likely to be that it will be regarded as a sort
of manifesto in favour of icheap money, and thus
cause the four, or six, or eight millions of railway
calls (whatever the ultimate sum is to prove) for
January to be followed up in February with like
vigour. On the whole, therefore, although the step
may not appear actually a dangerous one, it cer-
tainly cannot be regarded as exhibiting that example
of caution which from a public establishment might
be demanded.