The Sun.
London, England, 1841-03-17 00:00:00

EVENING EDITION.

not look for him. I never thought of .his being there,
and there he was not. He knew nothing of the burning of
the Caroline till neat morning; and if I am not mistakeu
be knew it first from me. The rise of the rumour of his
being there, I can only account for thus : he was active
and sufficiently daring to assist in that which in tither
of our navies would be only thought a common ` cutting.
out affair,' and had bean round the island that day in a
boat, along with several who were really at the destroying
of the boat. Had be been there, I feel certain that no
fear of consequences would have made him deny it, but to
be stigmatized as a murderer on one side, and foolishly
lauded by some as a hero on the other, on account of a
transaction in which he had no share, can be anything but
pleasant.
It has, indeed, been asserted that he has boasted of
being at the burning of the boar. To those who know him
and the circumstances, I need say nothing. To those who
do not, I say it is a gross faleehocd.
" He has been blamed, too, by many for laying himself
open to an arrest by entering the United States ; but
what had be in justice to fear ? Ile had been vaguely
accused, without cause, of being guilty of what we con-
sider no crime--and was this sufficient to prevent a Bri-
tish subject from entering the United States on his lawful
business? It is true a "true bill" had been found by the
grand jury of Niagara county iq the e trly part of 1838
against one Angus M'Leod, but be was not that person,
and though arrested on this indictment in August last,
was duly I:berated after a short confinement; but the per-
severing enemies of all good subjects to the British Crown,
the Patriots' of the frontier, had not done with him, and
on again visiting Buffalo, or rather on his return, he mint
be again arreste I, and by an accumulation of the most
gross perjury, and against the most direct and respectable
evidence in his favour, thrown into prison, where he must
not only abide the uncprtain effects of the law, but the
will of the mob.
'1 He has not deserved suers treatment from the bands of
any portion of the American people. He had no quarrel
with them ;—well and favourably known to many of them,
liberal and courteous to all with whom he had dealings,
could be have expected the Government and Feople of a
great nation would look coolly on, while his liberty, and
eve t his lire, was made the sport of a vile conspiracy ?
Yet such has been the case. But be make; no pitiful
complaint ; be cal:s for no undue sympathy ; his case is
simply that of an injure I British subjece He has claimed
the interference and protection of Lis Government, which
has been promptly afforded as far as possible; and come
what may, he dreads net the issue. Still his situation is
a very unpleasant one, confined in a miserable gaol, suffer-
ing i t health, and debarred from society ; and why ? Can
any c-clightened American answer without a blush for his
country ? The I;ws would allow him to brca'he the air of
freedom in his own land of liberty and law, but the people
would not, and it seems they are the higher power. Should
he have a f.ir iris!, and the character of the witnesses on
b tg sides be taken into account, I have no fear for his ac-
quittal, awl I hope such will in the case; but it otherwise,
what thee ?

" I sm, G 'ntlemen, much respect,
" Your obedient bumble servant,
ANGUS APLEOD."

GENERAL BANK BILL.
(Fr:.m tha United States Gazette.)
PHILADELPHIA, March 1.
Mr. Hinchman, from the Committee on Banks, yestcr-
ea/ rep red a General Bill for the Regulation of the
Bask*. Knowing the great interest wl hitt is felt on the
sabject, we hare taken pains to offer the following digest
of its provisions.
Sec 1. Provides for the suspension cf penalties under
the law of April 3, 1840, until the 15th of May, 1843,
prior i.enal provisions not to Le rcvived, and eaimants to
have their action at common law.
Sec. 2. Provides f. r tl-e issue of one, two, and three
dollar notes, for five yt. ars, to an amount not exceeding
fifteen per cent. f vieir capital stock actually paid in, and
toe hanks not to issue any kind of notes to an amount of
snore than 25 per cct.t. over their capital ; prohibits the
is.uc of pmt tio•os having longer than 120 days to mature,
nor For a less sum than fiveltundred dollars, nor amounting
to moro than ten per cent. of the whole amount of bills of
every kind issued.
Sec. 3. The total amount 6f debts and liabilities, ex-
clusive of deposits, shall not more than double the
capi a! stock actually paid in ncr shall the total amount
of debts and ela;ms true or becoming due exceed the same
amount.

Se^. 4. Provides that t! e total amount of investments
and auvances, directly or indirectly, in stocks, bonds, or
other securities, including its own
-stocks and loans (ex-

calving only our State—stocks), United States :tucks,
stocks of ri ies, counties, bcraughs, incorporated districts,
i istirutions or companies, whether purchased bona fide,
or 1 eld as collateral, shelf not exceed one-tenth part of
the total mount of the debts and liabilities as limited
by the 3d section. Nor shall any advance, loan, cr dis-
count, be mad on any of the above stocks and secu:ities,
except those of our State, or held collateral, exceeding
two- h'rds of their per value, or if below par, not exceeding
tso-thirds of the current market value, provided no Bank
shall be compelled to reduce the amount of such loans or
irocitruents made prior to the passing of this Aer, in a
greater re io than per cent. for every nincty days, in
tlats total amount thereof.

See. 5. Provides that the total amount of Is of
Directors, individually and collectively, for loans, dis-
counts+, or advances, made to them directly or indirectly,
shall not exceed the following limits. Where the capital
stock does not exceed 250,000 dollars, not over one-sixth
of the aggregate loans ; where the capital is over 250.000
dollars, and not above 500,000 dollars, one-eighth part of
the aggi eget,: Lana ; where the capitol is over 500,000
dollars, and not cver 1,000,000 dollars, not ot e; one- enth
of the aggregate loans ; where the cal ical it between one
and two millions, zit t to exceed cne-twelfth part ; between
two and three millions, not to exceed one fifteenth part ;
over three millions, not to exceed one-twentieth part;
provided that the riabil:t es now existing shall not be re_
duced in a greater ratio than 12i per cent. for every
nincky days.
Sec. 6. No cashier, tel'er, clerk, or any subordinate
officer, Oral hate any loan or discount, or keep a private
or individual ac.ount with or in the Bank they are engaged
by ; and any loans or &sectins so made as heretofore,.may,
if deemed expedient by the Directors, be reaewed, at a ,
r.duction of 124- per cent. for Every ninety days.
See. 7. At general me elings or elections, each share of
sock not over 50, owned by the same person three months
breviously, shall entitle the holder to one voce; all shares
eta een 50 and 100, one vote for every five shares ; all
shares above 100, one vote for every :ten shares. No vote
by proxy, unless persons owning stock live•more than fifty
mites from the location of the Bank, and the proxy to be
made Ind acknowledged before an alderman or justice of
the peace, within ten days next preceding such meeting or
election—no person to be the proxy of more than two
stockbeldera, nor shall any Director or officer cf a Bank
hold a proxy in the Bank he is connected with.
See. 8. No person shall serve as a Director unless 1 o
I o'6 bonafide in his owit right, stock in the following prc-
porti
3,000 dollars if the capital is not less than 3,000,000 dollars.
2,000 de. de. 2,000,000
1,000 do. do. 1,000,000
500 do. is less than 1,000,000
pry vided that persons holding stt ek in the Bank of Penr-
sylce-nia, or Pella& Iphia Bank, to the amount, f 1,000
dolla.—, or in the Colombia Bridge Company to the amount
of 500 doll us, shall be eligible as a Director on the part of
the S-ate in said banks repectivsly. But no person shall
serve as a Director in more than one bank for more than
three out of every f ,ur years, aa.l not more than three-
feurtlui of the Directors shall be re-elected for the sue-
ceediug year, except the President, who then always be

Sec. 9. If any person concerned in the managrtrelt
or employ of any bank shall' wilfully and corruptly make
or cause to be made any false entry on the book., or a
false return to the State, on the condition thereof, or f Age,
alter, c r be privy to any forgery or alteration of any of the
minutes of the Board of Directors, or any book or t ecord
of the Bask, to di• guise or conceal its condition, or issue
false papers or ceiteficates rclating to its affairs or its
capital stock, which would increase its liabilities; or shall
embezzle, secrete, or take for hi.. own use or use of other
persons any bullion, money, not; bill, check, drift, certi-
ficate, obligation or security, or any property or effects of
the Bank or of depositors, to shall he deemed guilry of a
mistlentranour, and upon conviction before a Court of
cOmpc:ei,t jurisdiction shill he punished by imprisonment
in
the State penitentiary for aly term not eacee, log seven
years, and be fitel not exceeding 2,000 dollars.
Section 10. —No r i idend °vet 7 per cent, per annum
dna,' be declared; all surplus profits over 7 per cent, to be
equally divided, one-half for the use of the Constnonne.ltb,
did the other ball* to Le set apart as a contingent fend, to
be invested in State loans.. If a bank close busin.esc,
the contingent fund remairing, after redeeming. all bah:-
among its stockholder?.
11 I.e divided, pro rata,
Prey did that the taxes slow imposed upon dividends not
exceeding 7 per cent. per annum, by the Act of June 11,
1840, shall not be exempted.
Section IL —lt shall not be lawful for non-sepnet. per n.
eiepayaing
banks to dcclire a dividend exceeding 5 per c
ism, and be subjected to a tax of 8 per c:nt. on the amount
thereof to the use of the Commonwealth.
Section 12.—Between the Ist and sth days o
_n
f thes
months of January, April, July, and October, the Banks
shall in every year make out a statement, verified by the
'Oath or affirmation of the President and Cashier, to be
Itranamitted to the Auditor General.
The Auditor-General is to prepare quarterly abstracts
of these sta'ements, to be published in one of the daily
Pa?qrs pub'ished in Philadelphia, Harrisburg, and Pittsburg.
It ;hall be the duty of the President and Cashier to have
such abstract published once a week for three weeks, in a
paw where the bank is located.
Sect. leNfthe officers of the Bank refuse, for thirty
days, to furnish this abstract, or neglect to publish the
same, or any Director shall v:olatc any of the provisions of
this Act, they shall individually, and severallf, be Fable
for the whole amount of the deft; and liahilities of such
Bank, and be there ftzr incapatle of holding an oil c in
snob or any other Bank ; and cv..Ty such neglect or re--
fusel, or any violation of the provisions of this Ac', shall I).
deemed a forfeiture of charter, the Court of Common
Pleas if in Sealer, or the President Judge thereof to act
aceordilg to the exhtions of April 3, 1840. ,
Sect. 14. Repeals conflicting and pri, r Acts.