The Sun.
London, England, 1841-11-18 00:00:00

THE CENSUS.

f SthTeA.Tl
llo~rsALo f Sth.:TslEsToicaeOtFy Lwoa ph oe
INd.
l
jeg last, at their Rooms, 4, St. Martin's-place, when a
nAful Monday meetingev en-
long list of donations which had been received during
the recess were reported.
An abstract of a paper on the Burman Empire was
read
empire,adby which it appears that the population of that
which was computed by the old geographers in
former years at 30,000,000, was, in 1326, only 4,230,000.
An abstract of the population returns for England and
Wales was also laid before the meeting, the Society
having been kindly favoured with a copy of the returns
by the Commissioners,iswahiecohp3!son, thtehreeeofn:_ly official docu-
L'opluBl3aiti.llplenrcrceaenset.
ment. The following

Population,
1841.

England
Wales
Scotland
Islands in theßritish
Seas

13,091,005
806,182
2,365,114

103,710

14.5

14,995,508
911,321
2,628,957

11.1

19.6

124,079

SPIRIT of the PUBLIC JOURNALS.

FROM THE DAILY PATERS OF YESTERDAY.

GLOBE.—We have already expressed an opinion
that but little benefit will accrue to the suitors by the
proposed inquiry into the long and loudly-complained-of
tardiness in the progress, and ruinous expense, of
proceedings in the Court of Chancery. The newly-
issued Commission bas effected the principal object
for which it was projected. The Lord Chancellor
was furnished with a topic for a speech at the
Civic; festival, and the Tory journals with a theme
in which Sir Robert Peel's claims to popularity, as a
Reformer of practical evils, were set forth. The for-
mer, it must be admitted, made the most of his sub-
ject ; and by aid of adroitly arrogating to himself
and party the merit of improvements to which neither
bad the most distant right, and sinking all allusion
to those to whom those improvements ought to have
been ascribed, produced a respectable after-dinner
speech. The ad captanduna vukunt was never lost sight
of for a moment by Lord Lyndhurst. His Lordship,
it is known, is equally skilled in the art of damaging a
political opponent by decrying his plans or misrepresent-
ing his principles, as he is in the art of spreading lines
to catch an evanescent applause from a ready-prepared
assembly of wine-warmed guests ; to be made the most
of by the party organs as indubitable proofs of Tory
popularity. It must be conceded to the Lord Chan-
cellor, that on the occasion referred to he was
almost equal to his former self on any similar occasion.
Never was " faint praise " bestowed with a more mani-
fest intention of " damning" the persons on whom it
was conferred, or " dislike" " hesitated" with a more
insidious desire to create the feeling in others which
the speaker knew it would not be altogether decent in
him too openly to avow on " such an occasion." _

STANDARD.—The execution of a wretch for
the commission of a cruel murder, committed with
the design of adding another still more creel, un-
manly, and unnatural—the murder of an unoffend-
ing wife—has been strangely made the occasion for
arraignir.g the punishment of any criminals by death.
Surely if ever there was a case in which it was
proper to punish a criminal with death, the case
of -Blakesley was one. Nevertheless, as we have
said, this case has been employed to illustrate
the unfitness, if not injustice, of capital executions.
While our statute-book was loaded with laws consign-
ing to the halter persons convicted of acts not essen-
tially criminal, save as the law made them such, or cri-
minal acts venial in their degree—while our laws were
thus sanguinary, and the scaffold was too often employed
in what, morally, seemed legal murder, we cheerfully
united our voice to those which called for a great reform
of the penal code ; but the code has been thoroughly
reformed, and we are not prepared to return to that
confusion of the degrees of guilt, by the adoption of
a system of indiscriminate lenity, which we denounced
under an opposite system of indiscriminate rigour. The
application of capital punishment must rest, in our judg-
ment, upon the twofold just;fication of right and expe-
diency. If we have not the right to take the life of a fel-
low-creature, no degree of expediency will justify our
taking it ; on the other hand, though we have the right,
it is free to us in all cases but one to waive its exercise,
if the exercise appear net to be expedient. The one
excepted case is murder. Even where the punish-
ment of the murderer may seem to our limited
undestanding inexpedient, the Divine command is
peremptory—" Whoso sheddeth man's blood, by
man shall his blood be shed ;" and it is impossible
for any rational man to doubt that, in sparing a mur-
derer, we become before Heaven the accomplices of his
crime. It is not lawful even to admit into our breasts
any compassion for him—such compassion is an accusa-
tion of the Divine justice, which has wisely and justly
doomed him to destruction.

MONEY MARKET and CITY NEWS.

FROM THE MORNING FAFERS OF YESTERD•Y.

TIMES.—The New York papers describe the state
of Pennsylvania, in regard to her credit and banking
affairs, as in a most deplorable condition, and attribute
this condition to the system that has been pursued for j
the last five years, viz., that of continuing loans to des-
perate speculators, leading to an accumulation of sus-
pended
assets, and a diminution of active means, until
the whole are worked up in a mass of inconvertible
securities. This system is illustratod by the transactions
between the banks and the " United States Bank" and
the State Government. Thus, when the State has been
in difficulties, its resource has been to force loans from
the banks, and there was of course a great quantity of
active means withdrawn, and replaced with a State
stock that was constantly becoming more and more de-
preciated. The same course being likewise pur-
sued by the " United States Bank," that institution
owed last winter to ten banks, the collective capital
of which is $9,150,000, as much as $5,078,000 on
its circulating notes, which must have constituted
nearly the whole of their available means. At that
time, it is thought, they might have obtained payment
at a loss of abont,s or 6 per cent., but they consented
instead to take post-notes, which fall due this autumn,
and are secured by a deposit of property nominally
worth $7,000,000, but really, even according to the
appraisement lately made, worth nothing of the kind.
The post-notes cannot be paid without a sale of the
securities, and it is doubtful whether this can take
place, as the legality of the assignment is contested.
A table of the condition of the banks of Philadel-
phia, at the time of suspension in October, 1839,
gives as their total capital (in round numbers)
$16,360,000 ; as the aggregate of their imme-
diate means, $4,834,000 ; and as their imme-
diate liabilities, $8,842,000. In January, 1841, the
amount of " United States Bank" bills he4l by all
these banks is said to have been $6,078,000, and it
seems that the increase of their means by the operation
of resumption at that time was only in the shape of
these bills, so that they parted with their own means
to redeem their own liabilities, while they took the lia-
bilities of the " United States Bank" for what was
actually due to them. Loans this year to the State
are estimated to have locked up $6,516,000 of their
additional means. It is supposed, that altogether
$8,574,000 have been withdrawn from their active
means, and locked up in State stocks, and securities
given by the " United States Bank. This want of
active means, and the depreciation of that stock, will,
it is thought, probably lead to a general explosion.
C H RON ICLE.—We are quite sure that the inno-
ceat holders of the spurious Exchequer bills will afford
every information and facility for the detection and
punishment of all who may have been privy to, or par-
ticipators in, the fraudulent practices of Smith. Of
the propriety of a full investigation of all the ramifica-
tions of the transactions, there can be no difference of
opinion ; and those who have been innocently saddled
with the spurious bills can have no possible object or
interest in wishing to screen the guilty. We stated
yesterday that they were parties of the highest respec-
tability who lent their money on these bills in the
usual course of business, under no conditions or
limitations of an unusual or suspicious character.
We at the same time said that if there were any
cases "of long standing, where conditions of :secrecy
have been exacted by the borrowers, we freely admit
there would be ground for suspicion." We believe
we were correct in saying so ; but it is proper, never-
theless, that we should state our meaning with more
precision, for " secrecy" is the very essence and foun-
dation of the business of the Stock Exchange. In
making the above remarks, therefore, we meant merely
to say, that if there were cases standing for any consi-
derable period of time, where the bills had been ex-
changed, and where the lenders were always bound, not
only to give up the same bills to the borrowers, but to
conceal the transactions, that these peculiar conditions
ought necessarily to have given rise to suspicions or
inquiries on the part of the lenders, and would go
far to exclude such persons from the list of bona fide
claimants against the Crown. But the observance
of secrecy, as a general rule of conduct in all time
bargains, is manifestly necessary ; and
,nothing, we
believe, is held sufficient to justify a broker in giving
up the name of his principal in such transactions,
except he be called upon to do so in a court of law.
It is very clear that the parties who are in the habit
of buying and selling some 200,0001. or 300,000/. Con-
sols, or even millions, on speculative chances, would
not be very desirous that their names should be known,
and in the very cases we gave yesterday in reference
specially to the practice in the market for Exchequer
bills, where the business done is for money price, it is
very apparent that the London banker would feel much
displeased if his broker should divulge the name of the
person for whom be was acting as a borrower. Great
injury would be done to the public credit, if in periods of
monetary pressure, when the country banks are sud-
denly called upon to provide Bank of Englehd notes or
gold against a run, the broker who was employed to
sell or borrow on their securities, was to make public
the names of those for whom he was employed to ope-
rate. Such a question as that of asking a broker who
wanted to borrow on Exchequer bills the names of his
principals, would never be thought of by the broker for
the lender, because, if it should be made, it is well under-
stood that no reply might to be or would be given.

VIENNA, Nov. s.—The Duke of Bordeaux
has, for some days past, been suffering more pain in his
foot, probably, only in consequence of the effort required
on his journey from Kirchberg to this city, We expect
to-morrow Baron Von Canitz, the new Prussian Ambas-
sador, and in the course of the month the new Ambas-
sadors of England and France.

---
BOLTON AND PRESTON RAILWAY.—The
works on this railway are progressing favourably. The
line to Chorley will be opened on the 23d of December.
The contractor for the tunnel at Chorley is using great
exertions, and there is no doubt but the whole line will
be completed and opened to the public in September
next. Some conception of the magnitude of the work
at the tunnel may be formed, when we state that seven
steam-engines have been found necessary to work the
pumps, having a power of nearly sixty horses. The
last dry weather has had an exceedingly good effect, the
quantity of water being much less in consequence. The
dimensions of the tunnel will be 20 feet by 22 feet 6
inches; its length about 300 yards. A portion of the
permanent rails is already laid on the line from the tun•
nel to its junction with the North Union Railway at
Euton.—Preston

LAW INTELLIGENCE.
COURT OF CHANCERY, Nov. 16.

The LORD CHANCELLOR sat at Westminster to-day,
shortly after ten o'clock.
_

VAUGHAN V. BUCK.

This case came before his Lordship yesterday, upon
appeal from the decision of his Honour the Vice-Chan-
cellor of England. The question in the case was, whe-
ther the testator in the cause, Mr. Vaughan, intended to
leave his property absolutely to his wife, or only to give
her a life interest. In the commencement the testator
made use of the following expression--" I give the
whole of my property to my dear wife during her natu-
ral life ;" and then, after giving several specific articles,
such as his watch, books, and other things to his chil-
dren, at the close of the will lie gave a leasehold
house and stock of various kinds, with the residue, to
his wife. Upon the case coming on before the Vice-
Chancellor of England, his Honour considered that the
wife took the estate only, and decreed accordingly, and
from that decision the parties appealed.
The LORD CHANCELLOR. at the conclusion of the ar-
guments, postponed his judgment.

lIITFORD V. REYNOLDS.
This appeal was opened, but the arguments not having
concluded when the Court rose, will be proceeded with
to-morrow (this day).

ROLLS' COURT, Nov 16.
ATTORNEY-GENERAL V. PRETTYMAN.

The MASTER of the ROLLS gave judgment in this
case, which was reported at length in this morning's
Sun, and will be found in another column. His Lord-
ship said that he had looked at the answer, and unfor-
tunately had not found that disposition that ought to
have been shown towards the Commissioners of Inquiry.
Nevertheless, under all the circumstances of the case,
he thought it might be arranged without wrong to the
Charity by ordering the defendant to pay the full value
for twenty-one years, from the time of the Comissionors'
Report till the expiration of the lease, and the costs of
the other parties. The case might be mentioned again
on Tuesday next, to arrange the terms of the order.

ATTORNEY-GENERAL V. THE SOUTH SEA COMPANY.

This was an information, filed by the Attorney-Ge-
neral, at the instance of the Charity Commissioeers,
against the South Sea Company and others, for the reco-
very of certain property that had been alienated by the
trustees of a charity. The case was partly heard
yesterday.
Mr. TURNER (with whom was Mr. Blunt) stated
that, by an indenture, bearing date Oct. 31, 1667, the
property in question, which consisted of eight mese
suages in Hammond's-alley, near Bishopsgate-street,
was conveyed by Margaret Taylor, widow, to Matthew
Smallwood and others on trust, subject to certain life
estates, for the poor of the parish, and for the mainte-
nance and education of pour children chargeable thereto.
The deed contained a power for the appoint-
ment of new trustees, in case of vacancy, and the last
appointment under it took place on the 16th of Novem-
ber, 1821, when the trust of the property became
vested in Mr. Ellis, and other defendants on the record.
It appeared, that from time to time several parish meet-
ings had been holden, at which orders had been made
for the repairs of the property, and also, that at these
meetings propositions for building upon it, and for
leasing it, had been entertained, none of which had
been carried into effect ; but at a parish meeting held
on the 11th of March, 1723-4, a gentleman named Gore,
alleged to be one of the trustees of the property, in-
formed the vestry that the South Sea Company were
willing to take a lease of all the premises at the yearly
rent of 451., to be paid half-yearly, clear of all taxes,
for the term of 999 years, commencing at Lady-day,
1725, and the vestry agreed to the proposal; and Mr.
Gore and other persons were desired to conclude the
affair, and the churchwardens were instructed to give
the necessary notices to gait to the tenants. On the 10th
of April following new trustees were appointed, and
a lease was granted on the 27th of March, 1725,
by them and the churchwardens to the South Sea Com-
pany, pursuant to the above resolution, by which, in con-
sideration of 1351. paid to the churchwardens by the
Company, being three years rent, they demised the
premises in question, for the above term of 999 years,
with power to pull down and erect new buildings, pay-
ing for the first three years the rent of a pepper corn, and
for the remainder of the term the clear yearly rent of
451., with the usual covenants. It appeared that at the
time when it was proposed to grant this lease the property
was let at rents amounting to 771. a-year, and that in the
year 1723, when it was repaired, pursuant to an order
of the vestry, the rents amounted to 81/., and it also ap-
peared from an entry in their minute-book, of the 11th
March, 1723, that the South Sea Company were aware
of these circumstances. Some years after this convey-
ance was made, Mr. Gore, who had built a house adjoin-
ing this property, effected an arrangement with the Com-
pany for a certain portion of it, and a deed was ex-
ecuted on the 15th March, 1755, by which the Company
demised to Mr. Gore, a small portion of the property for
968 years, in consideration of a portion of freehold land
in his possession, and on Ist August, 1759, another con-
veyance was made between the same parties, by which
three feet four inches more of the same pro-
perty was conveyed to Mr. Gore without con-
sideration. In February, 1762, Mr. Gore assigned
the property comprised in these conveyances to a Mr.
Mellish, from whom it descended to Mr. Mellish, one of
the present defendants. Against the tenants, Irving,
Lewis, and Smith, it did not appear that any case could
be made out as holding the property of the Charity, but
as against the complainants and Mr. Mellish he contended
that there was a clear case. Supposing the rent paid by
them was the best that at the time could be had for the
property, he apprehended that would not be sufficient to
entitle the Company to retain the lease, since an alteration
had taken place in the value of property, and the Court
would not suffer the charity to be deprived of the bene-
fit that might accrue from this alteration; and alienation
fur the term of 999 years, was, of course, an entire
alienation of the property. The Learned Gentleman then
cited the Attorney-General v. Bray, 3 Bevan, 91; Same
v. Green, 6 Vesey, 452; and Same v. Owen, '
10 Vesey, 555. Th. e pripciple of the Court was,
that alienation of charity property for the term
of 999 years, at a fixed rent, could not be main-
tained
; and if special circumstances were necessary to
enforce it, they were not wanting in the present case.
He understood it would be said on the other side, that,
in consequence of deductions from it, the clear rent did
not exceed on the average 22/. ; but his Lordship would
find that calculation was made on the ten years preceding
the date of the lease, when the charges for repairs were
very great. As to Mr. Mellish, it appeared that a cer-
tain portion of the property had been alienated—one
portion by exchange, and the other by voluntary grant.
This alienation was made to Mr. Gore, who was a trustee
of the charity, and the deeds recited that it was cha-
ritable property. The assignment to Mr. Mellish
also recited the same facts ; and therefore the same
rule was applicable to him as to the South Sea
Company. Under these circumstances, he submitted the
lease of 1725 ought to be set aside, and the property
restored to the charity, with rent, for such time as his
Lordship should think proper.
Mr. PEMBERT 3N inquired whether it was proposed to
make inquiry as to the expenditurey of the lessees, and to
make allowance to them for it.
Mr. TURNER said it was for the lessees to make out
the compensation they were entitled to.
Mr. TINNEY (with whom was Mr. Herbert and Mr.
Bosanquet), appeared for the South Sea Company, and
said he hoped for a very different result from that so
confidently predicted on the other side. The situation
in which he stood was a very curious one. He
appeared nominally for the South Sea Company, but
much more substantially for the Attorney- General
and for the public. His Lordship would remember
that when the case came on originally he had
shown that the Company had not a shadow
of interest in this property. By the 55th Geo. 3, ch. 57,
the Company were deprived of all power of trading, and
by that Act a largess fund was to be accumulated and
handed over by them to the Government, who guaran-
teed them 3 per cent. upon the capital, with power, in
case of deduction from it, to go to the Treasury per anno
in annum to make it good. Therefore, if the Company
were called upon to repay any portion of these rents, the
Treasury would have to pay them a larger sum than
they would otherwise receive, which would be thus taken
from the public and given to this parish. On that oc-.
casion he had also suggested that the Attorney-General
might see that it was impossible that any benefit
could be derived to the charity by the prosecution
of this suit. The Solicitor-General then declined to stay
proceedings, but he did not know that it was
absolutely necessary that the present Attorney-Ge-
neral might not take a different view of the mat-
ter. That, however, was for his Lordship's considera-
principle stated by Mr. Turner, that
be shown that no possible loss could be sus-
titioint. mu T s
the
sus-
tained by alienation by trustees to render it valid, he
was inclined to
accede, but when he said that it must be
shown to be beneficial, he replied that must be secundum
snbjectum materium. Those who executed this lease
found that the only way of making
that property bene-
ficial to the charity was to make a grant of it, and that
the South Sea Company were ready to take it on terms
which nobody else in existence, at that time, would have
done, and it was conveyed it to them, as he contended, for
the benefit of the charity. The property consisted of nine
small houses in a blind alley, surrounded by buildings
belonging to the South Sea Company and Mr. Gore,
with no entrance except from an alley in Bishops-
gate-street, about three feet broad, in which
two persons could scarcely walk abreast. There
was no fund to improve it, and the way in which
it was sought to improve it by the testatrix and others.
was to get nominal rents from the tenants, the duty of
repairing it being in
the lessor ; and it was found that
such was the expense of the repairs and the loss of
rents, that from 1714 to 1723, the utmost average rent
received from it was 24/. per year. Under these cirTim-
stances, it was not desirable for the parish to retain it,
money. if they could get rid of it at a fair price ; and if so, a
perk;etual rent charge was much preferable to a sum of
rho Company at that time, contemplating to
build the South Sea House, proposed to treat for this
property,
and their
proposal was accepted, the property
foiling leased to them for a term of 999 years- Sin° a
grant to a corporation must be alienation or nothing,
he asked whether this arrangement was not beneficial
to the property, and whether it was possible to make one
more favourable ? Ile asked whether, if it could be re-
stored to the charity in its original state, it would not be
much less beneficial to the parish than it was now, with
a rent charge clear from taxes, and with rates paid in
respect of Mr. Mellish's property on the one side, and
that of the South Sea Company on the other? The
only principle on which this suit could be maintained
was that the property, though worthless to the charity,
was very beneficial to the Company. Moreover, the
transactions witk Mr. Mellish were twofold and at dif-
ferent times. These might stand on very different
grounds ; one
Imtenintusthtabnetrhearattehmebtrearenrctthioant
might be good and the other bad. He con-
sa
tended, that to establish this suit it must be shown that
there was a breach of trust. It was said that no premium
case in which
waspaid by the Company. Could there be a stronger argu-
wthaiss beneficiala to the charity ?