The Sun.
London, England, 1847-10-25 00:00:00

NEW MUSIC.

A VOCAL ALBUM; Words by various Authors,
Music by Charles Goodban. Novello.
We have been much gratified by the perusal of this
work, which consists of four songs, two duets, and a
trio. To our taste, the gem of the volume is " Faire
Daffodils"—Herrick's exquisite words, set in the
Jacksonian canzonet style, flowing and graceful in its
melody, clever in the modulations and arrangement,
and producing a charming effect when sung by two
equal voices. The words of the trio are from Ben
Jonson, commencing "Slow, slow, fresh fount," com-
posed in the OA glee style, for two trebles and a bass
voice, and will certainly please. Of the songs, we
best like " The Blind Girl's Hope " and " The Willow
Bower," and although Mr. Goodban's melodies may
not always possess striking originality, they are, at
least, appropriate, and we are persuaded that this pub-
lication will do much to enhance his reputation as a
musician of talent, taste, and feeling.

SUSPENSION OF THE NORTH
ANDsourH WALES BANK.

LIVERPOOL, MONDAY MORNING.--We have re-
ceived a letter from our Liverpool correspondent,
informing us that the Albion of this morning formally
announces the suspension of the North and South
Wales Bank in Liverpool.
Our correspondent adds, that " to the recent cir-
culation in the metropolitan journals and commercial
circles of unfounded reports in regard to the position
of the bank is to be traced the origin of this new
disaster ; the alaxm generated among the depositors
having led to R simultaneous run on Saturday upon
the branch establishments in the Principality."—
Times.

IMPORT.ANT POST-OFFICE NOTICE.—THIS DAY.)
—" Gen'aral Post-office, London.—The Postmaster-
General of the United States having given notice for
determ'lning an agreement under which the correspon-
dence between Great Britain and Canada has been con-
veyed in closed mails through the territories of the
United States, as well as all other agreements subsisting
between the Post-offices of the two countries, the mails
to and from Canada will be landed and embarked at
Halifax, Nova Scotia, instead of Boston. All letters and
newspapers therefore addressed to Canada will in future
be forwarded by the way of Halifax, unless specially
directed to be sent by some other route, and as the ar-
rangement. under which the United States postage has
hitherto bec n collected in Canada, is also suspended by
the notice alluded to, all letters for Canada which the
writers thisire to have forwarded by way of the United
States should be addressed to the care of parties in the
United States, or they will be detained for the postage
due for the transit through the American territories.
The charge on letters will be the same as at present, and
newspapers free. In August the American charge on
newspapers was increased to double the old charge.
Baron I Lothschild, ALP., had an interview with
Lord John Russell on Saturday, after the reception by
his L)rdshi p of the deputation of city bankers.
The Ea' rl and Countess of Leicester have been en-
tertaining, at liollcham, the Prince Sapieha, Prince
Czartorisk i, the Counts Zawoiski, Viscount Burg,
Hon. Cali mel Keppel, M.P., Hon. and Rev. Thomas
Keppel, I ion. Jacob and Frank Asticy, and Bradfield,
Esq.
The 11cm. Captain Gore, R.N., is appointed Chargé
d'Affair es :and Consul-General at Monte Video, iu room
of Mr. ' Turner, who has retired on his pension.
The Duchess of Savoy, wife of the Prince Royal of
Sardinia, was safely delivt :cd of a daughter at Turin,
on tho 116 th.
THE "CARLTOII CLUB -nousE.—The exterior of a
portio of it is finished, and looks very well. The con
trust of t'-ie polish( d granite columns with the light stone
of Ow re st of the building being unusual amongst us,
the •opinie ai of the majority is adverse as to its good effect.
—.Builder .

-
. , ,

OE

BANKERS TO LORD

JOHN RUSSELL.

(THIS DAY.)

THE BANK EMPOWERED TO EXTEND

ITS ISSUES.

On Saturday a deputation from the bankers of the
city of London, consisting of Mr. Masterman, M.P.,
Mr. Abel Smith, M.P., Mr. Glyn, Mr. Bevan,
Mr. Barnett, and others, waited upon Lord
John Russell, at his official residence in Downing-
street, to represent the present state of the
money market, and to endeavour to induce him to
grant relief by the suspension of the Bank Charter
Act. His Lordship consented to lay their repre-
sentations before the Cabinet Council, then about to
assemble, and to give his reply this day.
At one o'clock this day Mr. Masterman waited,
on the part of the deputation, upon the Premier, to
receive his reply.
From the annexed letter it will be seen that
the directors are merely recommended to extend
their discounts at a minimum rate of eight per
cent. ; that the profits thereof are to be carried to
the public account in a manner hereafter to be spe-
cified, and that an Act of Indemnity is to be introduced
for the temporary departure from the terms of the
Act of 1844.

Downing-street, October 25, 1847.

Gentlemen,—Her Majesty's Government have seen
with the deepest regret the pressure which has ex-
isted for some weeks upon the commercial interests
of the country, and that this pressure has been
aggravated by a want of that confidence which is
necessary for carrying on the ordinary dealings of
trade.

They have been in hopes that the check given to
transactions of a speculative character, the transfer
of capital from other countries, the influx of bullion,
and the feeling which a knowledge of these circum-
stances might have been expected to produce, would
have removed the prevailing distrust.
They were encouraged in this expectation by the
speedy cessation of a similar state of feeling in the
month of April last.
These hopes have, however, been disappointed, and
her Majesty's Government have come to the conclu-
sion that the time has arrived when they ought to
attempt, by some extraordinary and temporary mea-
sure, to restore confidence to the mercantile and

manufacturing community.
For this purpose they recommend to the Di-
rectors of the Bank of England, in the present
emergency to enlarge the amoun t of their discounts
and advances, upon approved seourity ; but that, in
order to retain this operation. within reasonable
limits, a high rate of interest should be charged.
In present circumstances they -would suggest that
the rate of interest should not be less than 8 per
cent.

If this course should lead to g,ny infringement of
the existing law, her Majesty's Government will
be prepared to propose to Parliamie nt, on its meeting,
a Bill of Indemnity.
They will rely upon the discretion of the Direc-
tors to reduce as soon as possible the amount of their
notes, if any extraordinary issues; should take place,
within the limits prescribed by L sw.
Iler Majesty's Government are- of opinion that any
extra profit derived from this mere ure should be car-
ried to the account of the pir_b lie, but the precise
mode of doing so must be left to !future arrangement.
Her Majesty's Government are not insensible to
the evil of any departure from the law which
has placed the currency of this country upon
a sound basis; but they feel c onfident that in the
present circumstances, the measure which they have
proposed may be safely adopte d ; and that, at the
same time, the main provisions that law, and the
vital principle of preserving the convertibility of the
bank note may be firmly maintaik ied.

We have the honour to be, Gentlemen,
Your obedient: humble servants,
(Signed) JO E(N RUSSELL.
CHAS. WOOD.
The Governor and Deputy-Governor of
the Bank of England.

Resolved, —That this Court clo accede to the re-
commendation contained in the better from the first
Lord of the Treasury and the Chancellor of the
Exchequer, dated this day, and addressed to the
Governor and Deputy-Governor of the Bank of
England, which has just been read.
That the minimum rate of discount on bills not
having more than ninety-five days to run be 8 per
cent.

That advances be made on Bills of Exchange, on
Stock, Exchequer-bills, and other approved securities,
in sums of not less than 2,000/., an d for periods to be
fixed by the Governors, at the rat*: of 8 per cent. per
annum.

(Copy of Reply..)

Bank of England, October 25, 1847.

Gentlemen,—We have the honour to acknow-
ledge your letter of this day's date, which we
have submitted to the Court of Directors, and
we enclose a copy of the resolutions thereon, and
We have the honour to be, Sirs, your most obe-
dient servants,
(Signed)
JAMES MORRIS, Co vernor.
11. J. PRESCOTT, Dtputy-Governor.
To the First Lord of the Treasury and
the Chancellor of the Exchequer.

We learn from Vienna that the Marquis de Ricci,
the Sardinian Minister at the Court of Austria, has left
for London, charged, it is said, witib . an important mis-
sion relative to the state of affairs in the territories of
the King of the Two Sicilies.
SEIZURE OF THE PARIS NATION: AL.—The National
having been seized on Thursday at the Post-office, and
at the place where it is published, tin at journal expresses
great astonishment at the proceed ing, as it cannot, it
says, imagine on what article in its m .umber of Thursday
it was founded.
GENERAL POLLOCIL—This distinguished Oriental
officer, since his arrival in this coun.try, has been staying
chiefly at West Drayton. The Gallant
.Officer last week
had the honour of dining with he r Majesty and the
Prince Consort, at Windsor Castle..
WOOLVICII.—APPREHENSION -or Two MEN FOR
STABBING Two GAMEKEEPERS.--'011 Friday evening
betwen the hours of seven and eight o'clock, Mr. Charles
Hollington, inspector of the Guildford Police, with the
assistance of some gunners of the Loyal Artillery, suc-
ceeded in apprehending Arthur an I Reginald Bristow,
who are charged with stabbing two: gamekeepers, named
George Target and James Martil:'l, at Horley, near
Guilford, on the 9th inst. A rewart lof 1001. was offered
by the Home-office for the apprehension of the prisoners,
and inspector Hollington traced 'them first to Bristol
and afterwards to London and 1 Voolwich, at which
latter place he apprehended them at the Crown and
Cushion public-house.
MR. COBDEN AND THE REPICRSENTATION OF THE
WEST-RIDING. We understand that Mr. Cobden,
M.P., intimated his intention not to " pronounce" as to
whether he will sit for the West-:Riding or for Stock-
port, until the assembling of the new Parliament.—
Leeds Intellidenrer.
SWITZERLAND. The Swiss Federal Gazette of

the 20th states that the federal of war has called
upon the twelve cantons of the mai,g rity to place all their
military stores upon the war footiog.
MADEMOISELLE DELUZY.—TiIe Droit states that
nothing has yet been decided as to the course to be
pursued with hidlle. I)eluzy, but that it has reason to
believe there is nothing in her correspondence with the
late Duke de Praslin which can farm the ground of a
trial before the Court of Assize.
The Journal des Chemins de Ter says —" Pope
Pius IX. does not confine his interest and care to poli-
tics and railroads, but does all he cs.n to encourage in-
dustry in general. Four suspension bridges are to be
constructed at Rome by a French company, with the
Duke de Broschi at its head, to who to the concession has
been granted."

YiTON EY :ind CONIITER CIA", IN 13 IT S.

Y, t,) ts:
The sales of Cotton at Liverpool on Satetelsy ee3r'
2,000 bales. American 44d. to 6 I. per lb. 611are6
were better.
The " Secret" is out, and although the relief which
Government intends to afford is not considered to be
sufficient, we have a strong impression that it will halle
.
a favourable effect throughout the country. ."
has been announced from the Commissioner's'
box in the Stock-Exchange that the Bank
will make advances upon smelt and Exchequer-hills 3t
the rate of 8 per cent. Thi:, is relieving the mereantil°
community, and will afford a resource to the bankers
iu
obtaining facilities.
The Bank loans upon stocks, Exchequer- bills, and big
of exchange, not having more than 90 days to run et 8
per cent. for not less than a fortnight, nor longer than
six weeks, and, as is presumed, must be allowed to issve
notes, or this could not be accomplished.
The state of trade, according to the advices received
to-day, is likely to be better at Liverpool and in th°
provinces.-
The North and South Wales Banking Company I'll"
suspended payment.
The Funds have been subjected to extreme tluetny
tions. Consols, after rising to 81i for Money, are
down to 81H -x, and from 83 they have dropped
to 811 R for Account. This is the effect of over'
strained anticipation, and of the disappointree°
which appears to be felt under the idea thaS
the measure is not sufficiently comprehensive:
Exchequer-bills are 275. to 20s. discount. Bank SW'
is 181 to 184. The New Three-and-a Quarter Per
Cents. are soi to 81i. East India Bonds are 20s. t°
255. discount.
The Foreign Securities are very quiet still. Sp
alliell
Five per Cents., 17 ; and Portuguese Four per Cent 64
20 to 21. Chilian Bonds have been at 86. pnte-
h
Two-and-a-Half per Cents. have been 53.
Railway Shares have improved, but have since gone
back again a little.
BRITISH FUNDS THIS DAY AT ONE O'CLOCIC
(From the Official List.)
Bank Stock
3 per Cent. Reduced Annuities 79% 803/•sti4
3 per Cent. C0n5015...... 81 81% 80% Isl/04
New 314 per Cent. Anna Bll/4 80481
Long Annuities, Exp. Jan. sth, 1860 8 3-16 ;it

. . ,
India Bonds 1,000/ ....... ......... ....... .... 25 die
Ditto under 1.0001
Consols for Account ... , 82% 81%83 o'/'
Exchequer Bills. 3d. 0 410
1,0001. - Ai/
5001. -
Small .. ..... ... 3 p par 9 di!
PRICE OF FOREIGN FUNDS AT ONE O'CLOO'
Brazilian Bonds, 5 per Cent
Ditto Small
Chilian Bonds, 6 per Cent .. 86
Equador Bonds VA%
Portuguese Bonds, 5 per Cent —
Ditto, 4 per Cents 2O 21
Spanish Bonds, 5 per Cent, 1840
Dividends ou the above payable in London.
Dutch 2% per Cent., 12 Guild 53 ‘
BUSINESS DON 6 IN RAILWAY SHARES AT ONE O'C--r, °C
RAILWAYS. PAID. Pisa &zags-
Aberdeen
Amber., Notting., Boston, &c. 2% — ...... to "
Ayrshire and Galloway
Belfast and County Down .. 10 .. ..
Birmingham & Oxford June... 15 .....
Birmingham, \Vol., & Dudley 10 ... . 131/2 to "
Birming., \Vol., & Stour Val. 8 ...... ,
Birkenhead, Lancashire, and
Cheshire Junction.. ...... ... 61/,,
Boston, Stand., & Birming... 5
Bristol and Exeter
Do., Thirds
Buckinghamshire..
Caledonian B/. 4s —..
. ... ..o
to
-----;
t
50
Ditto, Half Shares
..... to --
Ditto, Clydesdale Junction 40 . — ...... to "
Chester and Holyhead 371/2 ..... 23
Ditto, Preference
Cheltenham and Oxford 2 ...... ...... to "
Clarence. .
.... to "
Do., let Class, 6 per Cent... 10
Do., 2d Class, 5 per Cent... 10 ...... to
Do., Gov. Loan, 4 per Cent. 10
Dublin and Belfast Junction.. 20
......
Dundalk and Enniskillen ... 15
_ _

East Anglia, 25/., L. &E. - ---
awl L. & D.
Ditto, 181., E. & H lB ......
...... to --.
Ditto, 31. 10s., E. & H 1 -
-"
Eastern Counties
Do. Perpet., 5 per ct. No. 1,6/. 13s. 4d l4 dia.... to
...,7°
Do., do N 0.2, 6/. 13s. 4d... %A
dis.... to
Do., York Extension
16 "....
Do., Northern & Eastern
Do., Quarters .... ....... ... 12%... ~, _ ...... to
Do., New -
•--
Eastern Union ... ... .. 50
Ditto, Quarter Shares ...... 121,4 — ...... to
Ditto., Thirds ...135. 4d — ...... to
East Lancashire
Ditto, New .. ........... .... .13 -
Do., do., Extension Scrip... 114
East Lincolnshire
Edinburgh and Glasgow 5O — -'
Ditto, Half Shares
Ditto, Quarter Shares l2l 1
Edinburgh and Northern ... 20
Ditto, New 2l/ .....
Ditto, New port 7
...... to
Ditto, ditto, New lll, _. to
...
Edinburgh and Perth 2
...... to ---
Ditto, Extension
Exeter, Yeovil, & Dorchester 2% —
...... to
Ditto, New ...
...... _
...... to
......"--
Glasg., Dumfries, & Cirlisle 8/. 64.8 d... .. ... to ,
Glasgow, Kilmarnock, & Ayr 50 ...... ...... to
Ditto, New
..... to
Do. 14 Shares (5 per ct. gua.) 121 •• 1° .--
Great Northern 8
......
_ ...... to
......
Do. London & York Exten. 21
Gt. South. & West. (Ireland) 35
...... ni
Great North of England 100
Ditto, New 401 5 -
Ditto, New 30/ ... 30 ... "26143% ..: . ..:: to ......
Ditto, New 15/
.... _ .
... to 100
Great Western
Ditto, Half Shares
...."
Ditto,
Ditto, Fifths Quarter Shares
20
714 .... 18 ....... to •• ,-
t° 34
Do. New 17/ ...... I."_
......
Huddersfield and Manchester 22 ...,
. t° -
Ditte, Thirds 7 —".
......
t°
. ....
....
Hull and Selby 5O
...... to -_
Ditto, Half Shares
..... to
....
' Ditto Quarter Shares 12% — ...... to
.....
Ipswich
.....
& Bury St. Edmunds 15
. ~.•
Do. do. and Norwich
...... to

Do., do., Extension Scrip ....
(late (Camb. and Ely) 24...... ...... t° ~....
Lancaster and Carlisle.-... ... 50 52
.... to
Do Thirds _ ~ -

Lancashire and Yorkshire ....
(M. and L.) B2
....., tO
Ditto Half Shares - 38 —
Ditto Quarters -
.....
Ditto Fifths
....-
Ditto Sixteenths ... ... 614 ......
Ditto Thirds (Reg.) ... 101.4 s — . to
Do. Liverpool and Bury... 34
Do. (Hudders. and Sheff.) 33
Do., Wakefield, Pontefract,
and Goole 7
Do., West Riding Union ...41.4 %
2s . .....
..... 10°
....5
to
Do., Preston and Wyre ... 25
Do., do., Half Shares (A) 9
......
Ditto ditto ........ ......(B) 11A
....
Leeds and Bradford 5O ..... ..... I'.. .....
Leicester and Bedford
_
Leeds, Dewsbury, & Manches. 371,4 — ...... to ---_
Do., Branch 1A Shares 12% .to "-
Ditto, New Branch (blue).. 2% —.. . .... .. t°
.......'
Ditto, Extension (green)... 2% — ...... t° 0,
Do., New Exten. (pink)... 2% — .....• tia ....
Leeds and Thirsk 3l
to
Ditto, New ... ...... .. 171,%..... ...... t
t°o -
Do., do., Prefer., 6 per Cent. 3%. .... ••••
Liverpool. Crosby, and South- ...•
port 2
...... tO
Liverpool, Manchester, and -
Newcastle Junction . to ,
2% .....
London F 6 Blackwall...l6l. 13s. 4d 5%.... to o
. to ---
Ditto New, No. 1,.
to
~...
Ditto New, No. 2 3/. 13s. 4d.... •."' ---
• to
Do. Extension
Lond., Bright., & South Coast 50
Do. Consolidated Eighths... 20
Do. Guaranteed 5 per Cent. 9
Do. Pref. Cony. 5 per Cent. 50
~..,
London and Greenwich... 112/1.1157 ss.
24dd --___ ......... 1,7, 0:150
Ditto Preference
London and North Western..100
..•
Do. Quarter ......L. and B. 17 - ~ to 84
Do. do. New ...... .... ...... 2
Do. do. Fifths
...
Do. Quarters
Do. 40/. Shares.....L. &M. 15 .
Do. 40/. Shares...M. and B. 40 - 56 ...... to a"
Do. 10/.... M. and B. (A.) 5 .
...... to
.....--
Do. 10/. .. M. and B. (B.) 5 o 5
Do. 101.... M. and B. (C.) 1 - ... " .....
London, Oxford, and Cheltm. 2
London and S. Western.... 41/. 638 d 57 ...... W ~..
Do. New Consolidated Btbs. 40
....
Ditto New 50/.
Ditto New 40/.... ...... .. ..26 -
to
Do. Tenths (Consolidated) 50
Do. Tenths (Consolidated) 40
to "..
Ditto, Thirds ... 6l. 13s. 4d... ..... to ••"'
London, Salisbury, & Yeovil 1% — ....••. 0 .....
.....
Londonderry and Coleraine... 27% — ---
Londonderry and Enniskillen 23% ...... toto .....
blanch, Buxton, & Matlock 3 -
Manchr, Sheffield, and Linc.loo
Ditto I,A. Shares (4. 1) ... 13
Ditto, ditto (No. 27
Ditto, IA Shares (No. 3)... 7% -
Ditto Grimsby 25 — ...... to -
Ditto, ditto.
Ditto, ditto ...
Ditto, Sheffield, and Line. 71/2
Manchesterand Southampton 214 —*"' to 1067'
Midiand 100 lOB 109- ,
to
Ditto, Consol. Preference... 100
Ditto, 40/. Shares
/4
Ditto, 50/. Shares... lO -
Midland, Birm., and Derby...loo ... - 83 ..... '
Midland, Consol. Bristol and . to 119
Birmingham 6 per cent lOO ll7 .•••• .....
Midland, Bristol and Glouc. 34
to ...
Ditto ditto 71.
98"- ..---
......
Midland, Leices. and Swan-
nington (8 per ct. gua.) 50 .... • -- ••••..to
Midbl. Great Western (Irish) 30 - ..... to
Newcastle and Carlisle lOO •,_..--- ..... tO "I'd
Ditto Quarter Shares
Newmarket and Cheatertord 1314 - ••••• to ••"'
Ditto Extension - ...... ......
. to
Newport Abergy., and Heref. 4 - ..... to ""
Norfolk
Ditto New 20/.to
Ditto Extension - -• ' to ..."
Do. Scrip, 1847, N. of Norlik 2 ...... •....to "".
Do. do. Wayeney Valley