The Sun.
London, England, 1847-04-19 00:00:00

COURT CIRCULAR.

Colonel Anson's lago is also here.

The Queen and Prince Albert. the ladies and gentle-
men of the Court, and the domestic household, attended
Divine Service yesterday morning in the private chapel
in Buckingham Palace. The IL. n. and Rev. C. Leslie
Courtenay officiatea.
Her Ma,lesty awl her Royal Consort t )ok their ac-
customed early walk yesterday.
Their Royal Highnesses the Prince of Wales, Prine‘,
Alfred, the Princess Royal, and the Princess Alice, took
airings yesterday in the Royal gardens.
Her Royal Highness the Duchess of Kent visited the
Queen on Saturday, and remained to luncheon with her
Majesty and Prince Albert at Buckingham Palace.
His Royal highness Prince Albert rode out on horse-
back on Saturday attended by the Hon. Capt. Gordon.
The Prince of Wales, Prince Alfred, the Princess
Royal, and the Princess Alice, took their usual pony and
walking exercise on Saturday.
Her ,Majesty and Prince Albert, attended by the
Countess of Mount Edgcumbe, Hon. Miss Kerr, Hon.
Miss Cavendish, Lord Byron, and Major General
Wemyss, honoured the Royal Italian Opera House with
their presence on Saturday evening.
We understand that her Majesty, anxious to comply
with the wish expressed by many persons to be allowed
to see the pictures lately painted by Mr. F. Winterhalter,
namely, one representing her Majesty, his Royal High-
ness Prince Albert, and the Royal children; the other,
his Royal Highness the Prince of Wales in a sailor's
dress ; has been graciously pleased to command that
they shall be exhibited in the banqueting-room in St.
James's Palace.
On inquiring at the Lord Chamb -rlain's office we find
that it is intended that tickets shall be issued by the
Lord Chamberlain from thence to commence on Tuesdrv.
next, the 20th instant. The hours of admission to be
from two to five o'clock.
At first the tickets will be limited to the Foreign
Ministers; the Members of the late and present Cabinets;
and the Great Officers of State. After the 28th instant,
tickets will be issued for about three weeks to ladies and
gentlemen upon personal applicati. n at the Lord Cham-
berlain's office, between the hours of twelve and four, at
the end of which time tickets may be obtained in the
same manner as the orders to view the state apartirents
in Windsor Castle, upon application to Messrs. Paul and
Dominic Colnaghi, printsellers, No. 14, Pall-mall East ;
Mr. Moon, printseller, No. 20, Threadneedle-street; Mr.
Mitchell, bookseller, No. 33, Old Bond-street; Messrs.
Ackermann and Co., printsellers, No. 96, Strand, until
the end of June, when the pictures will be removed to
Osborn, her Majesty's private residence, in the Isle of
Wight, for which place they were painted.
Mr. Moon has purchased the copyright from Mr.
Winterhalter, and engravings of the Two Pictures, in
the highest style of art, will be published by sub-
scription.
Her Royal Highness the Duchess of Kent visited her
Majesty the Queen Dowager yesterday: His Royal
Highness the Duke of Cambridge also visited her Ma-
jesty yesterday, at Marlborough House.
His Royal Highness the Duke of Cambridge attended
divine service yesterday morning in Grosvenor Chapel,
South Audley- street.
Their Royal Highnesses the Duke and Duchess of
Cambridge, attended by Lady Augusta Cadogan, Baron
Knesebeck. and Major Stephens, honoured her Ma-
jesty's Theatre with their presence on Saturday evening.
A Cabinet Council was held at two o'clock on Satur-
day afternoon at the Foreign Office. It was attended by
Lord John Russell, the Lord Chancellor, the Marquis of
Lansdowne, the Earl of Minto, Sir George Grey, Vis-
count Palmerston, Earl Grey, the Earl Auckland, Sir
John Hobhouse, Lord Campbell, Viscount Morpeth, the
Earl of Clarendon, the Marquis of Clamicarde, the
Right Hon. T. B. Macaulay, and the Right Hon. H.
Labouchere.
The Council sat three hours.

HAMPTON SPRING MEETING.—SATURDAT.
The Aristocratic Hurdle Stakes of 10 soy. each, h ft,
and 25 added ; 11st 71b each ; half-bred horses

allowed 51b. Two miles.
Lord Strathmore's Red Lancer, aged (Owner) 1
I
Mr. P. P. Rult's Spectator 2
Mr. R. Clittoo's Miriam, Mr. Hussey's Quicksilver,
and Lord B. Cecil's Mortgage, also started, but were not
placed. Won by two lengths.
The Free Handicap Hurdle Stakes of 10 soy. each, 5 ft,
and 50 added. Two miles.
Mr. Oliver's Redstreak, list 121 b (Owner) 1
Mr. Ekin's Salopian, llst
Mr. G. H. Brettle's The Curate, list 61b 3
Mr. G. Walter's Cavendish, lOst 10lb
Won cleverly.
The Moulsey Hurst Sweepstakes of 10 sovs. each, 5 ft,
and 25 added ; the winner to be sold for 250/. Once
round.
Lord Strathmore's Lyons
Count Batthyany's Master Stepney
The Ladies' Purse of 151., added to a Sweepstakes of
7 sovs. each, 3 ft. One mile.
Mr. Webb's Amazement, 5 yrs (Capt. Little) 1
Mr. Miner's Carrissima
3
Lord Strathmore's Barnaby Rudg
t.
Two others started.

TO THE EDITOR OF THE SUN.
SlR,—The past week's racing at Catterick has borne out
my anticipations pretty nearly to the letter, having hit the
mark in five cases out of seven. At Bath I was not so sue
cessful, the state of the ground nutting all my previous
calculations completely to the rout; I was only right in
two instances, in two I named the second. and in the
other two (the City Cup and the Somersetshire Stakes)
I was out altogether, having named Brave Buck and
Clermont as the couple most likely to win the Handicap:
the first did not start; the latter ran a wretched third,
in consequence of the heavy state of the course. For
the Metropolitan Stakes I :elected, among others, the
Emerald Isle and Clermont. The former threw away
her chance (a first, rater, by the bye) by ru.,ning against
the cords, jumping them, and playing off other extraor-
dinary pranks, anything but pleasant to her backers, or
that thorough bred son of the Emerald Isle, her owner.
Barring this accident, she would have been either first or
second, in my humble opinion, and that she will not be
far from winning the Chester Cup is also my firm con-
viction. Clermont won very cleverly, beating that
splendid racer Wolfdog by a short neck in the last stride
or two; Brotl.er to Stitch, by Ilornsea, out of Industry,
running a game third. The latter nag must not be lost
sight of; he will be doing something extraordinary in
the handicaps before the year is out. Clerniont'a per-
formance in this race entitles him to the appellation I
bestowed on him a week since. of the " champion of the
feather-weights;" whether he will be able to run suc-
cessfully with heavier weights time will prove; at present
he is indubitably one of our best second-rate three
years old.
For the Two Years Old Stakes I placed the first and
second, nothing entered, in my opinion, having any
chance with Antelope.
A moderate meeting at Newmarket, 'yclept the "First
Spring" begins in earnest to-day, with four sweepstakes
to close and name the evening before running.
A Sweepstakes of 50 sovs. each, across the elat, for
three years old, has twelve nominations, but nothing
likely to contend successfully with the King of Morven,
who will not have more than two competitors.
A Sweepstakes of 50 sovs. each, over the Cambridge-
shire Course, will be reduced to a match between Mont-
pensier and Devil-me Care; the former for choice.
Piccinino and Fistiana will win both their matches.
On Tuesday the Two Thousand Guineas Stakes—the
great attraction of the meeting—will bring together a
distinguished batch of candidates for Derby honours,
about eight in number. The following includes all that
are likely to start:—Christopher, Conyngham, Sister to
Cobweb colt, colt by Clearwell, out of Zipporah, Mont-
pensier, The Liberator, Lunedale, Halo, Planet, and
Glentilt. Kent has a string of nine for Newmarket,
including four engaged in the " Two Thousand," to wit.
Halo, Planet, Glentilt, and Gabbler. Now of the last
three it is extremely dubious which will go, or whether
Mr. Mostyn will start two. The latter will most likely
be the case, and Planet and Glentilt the nags selected.
There is another doubtful affair attached to this race.
Old Port has not been so lively lately either in constitu-
tion or in the market, consequently it is not very pro-
bable that he will start; but he might, and, if all right
again, Mr. Worley would lid that he had a golden drop
of Beestoing in his Old Port, which would make him
go-lightly through the year.
From Kent's lot I take Glentilt, as decidedly the
best, and from the others Conyngham, Sister to Cobweb
colt, and ..he Zipporah colt; but I am inclined to think
that the race will lay entirely between Glentilt and
Conynghana.
The Sweepstakes of 300 sovs. each will be an easy
victory fie. Paragene.
The Coffee-room Stakes will go to the Zipporah colt
with a start, otherwise Projectile will walk over.
On Wednesday Coningsby will win the Fifty Soy.
Stakes, and rago the Two Hundred Sovs. Stakes, Con-
spiracy second, and Humdrum third.
Piccinino and Alarm will win their matches, but
neither with much to spare.
On Thursday for the One Thousand Guineas Stakes
seven or eight will start, including Ch mentina and
Slander, whom I expect first and second at the winning-
post, Belladonna well up.
The One Hundred Sovs. Stakes will produce a race be-
tween Epirote and Halo—the former for victor.
Typhon will have the credit of tee icing forfeit from
or heating Elithen in their T.Y.C. spin.
On Friday the Harmony colt, Cossack, War Eagle,
Epirote, and perhaps two or three more, will contest the
...1..e Eagle o•-;,. bin
quietus from the winner, Epirote, the Harmony colt
being third, and Cossack fourth.
hisa
sTt
ohGraceOne
o no fF
hundred
idafno ar,ds,spofroyerst.enntsistithoaiknnseg but accident can put
The Fifty Soya. Stakes are all but in the pocket of
Piccinino ought to
win, Gag second.
Lord E. Russell with Reminiscence will take the other
One Hundred Soys. Stakes, without a doubt, neither of
her opponents benig within 71b. of her.
With War Eagle's match ends the First Spring Meet-
ng of 1847.—1 am, Sir, &c.
April 19. THE SPIRIT OF THE TURF.

A deputation from the metropolitan gas companies,
consisting of Mr. Bateman, from the Chartered Gas-
light and Coke Company ; Mr. Gainsford, from the-
Phoenix Company; Mr. Hinde, from the London Com-
pany ; Mr. Sangster, from the City of London Com-
pany; Mr. T. B. Simpson, from the South Metropolitan
Company; Messrs. Townend and Grattan, from the In-
dependent Cosnpany; Mr. Hammick, from the Ratcliffe
Company; Messrs. Tyrrell and Richards, from the Im-
perial Company; and Mr. Holdship, from the Equitable
Company, had an interview with Viscount Morpeth at
the office of her Majesty's Commissioners of Woods and
Forests in Whitehall-place on Saturday.
A deputation from the Supporters of the Government
Minutes on Education in Birmingham, waited on Lord
John Russell on Saturday, at his official residence in
Phiiipa'sd were
; Mr. T. Lane,
n
Downing-street. The deputation consisted of the Rev.
John C. Miller, Rector of St. Martin's ; the Hon. and
Rev. G.
Bailiff ; and m
Yorke, Rerc.to
jroohfn SL
Aston,
intro-
duced by Mr. R. Spooner, M.P.
Mr. C. K. Murray had an interview with Lord John
Russell on Saturday.
A deputation of the New River Company, consisting
of Mr. Richard Beauvoir Berens, Governor ; Major-
General Ellicombe, Deputy-Governor ; Mr. E. W.
Webster. Treasurer ; Mr. Henry Hulse Berens, and the
Rev. C. Keene, Directors ; and Mr. C. Mylne, Engineer
to the Company ; had an interview on Saturday with
Viscount Morpeth, at the office of the Woods and

Forests.
The Duke of Wellington and Sir Frederick Trench
attended the early Service in the Chapel Royal St.
James's, yesterday. The prayers were read by the Rev.
Dr. Wesley, and the sermon was preached by the Rev.
J. R. Wood. At the daily service the prayers were
read by the Rev. Dr. 11. Dakins, and the lessons by the
Rev. 1)r. Knapp. The sermon was preached by the
Rev. J. R. Wood. The anthem was " 0 give thanks "
(Purcell). The Ladies St. Germans and Somerset, the
Duke of Beaufort, the Marquises of Anglesey and Wor-
cestor ; Lords Fortescup, St. Germans, Cawdor, Jocelyn,
Cantilupe, and Ebrirgton, were amc.ng the nobility
present.

" Ova LONDON ComeesPoNnEeiT."---Such is the
title under which variousw provincial journals keep a
kn
el Ye
column of execxluosliuvseiv
contributor in town, hinosteelliilguetynetet. is
Ttohesenidotaellsi•geoe
it. The person enga:ti
is certainly
correspondent is
exclu-
sive manufacture of
dieeinnougthhe,
capacityhr theof
Loexnedloun-
the limited circle of individual who forwards
compelled to affect an acquaint-
ance with all that •
ments, but what will
circles; but as hisis passing in the best informed
from his fellow-reporters the tavern he frequents, be is
obliged to draw u
he furnishes to the upon
his imagination for the "facts"
sphere of observation is confined to
provincial. journal. It cannot be ex-
pected that there
they want in truth is made up in
audacity.
Upon the be much veracity in his state-
strength of what he picks up
something
on the London press, he has
generally
is to oppose vet° to
in-
tentions, engagemengt
be conducted by everybody writers, about sor non-engagementsof the leading
and impossible whomstreee he knows positively nothing.
Occasionally he h
with reference has
some grand scheme to communicate
the startinof a new daily paper, which
highest to the lowest nthget
hr
in t
n journalth ei in
ee xw ls
enterprise.tin c e , and is to
who have all seceded from
everything else, forvetrhy the purpose of putting every possible
character,paanpl,rthee,
Pro-
prietors, printers, publishers, editors, contributors, re-
porters, and indee
everything
else, establishment,
the point
said by " our London corre-
spondent" to be on point of abaudoning profit, posi-
tion,position to the in which they all have a mutual in-
terest. When " our London Correspondent" is asked for
his authority—though tostart wfriiljfinul tohpe-
it is seldom worth any one's while
to do that—his announcement
of a new paper is found to
rest on no foundation whatever. It enabled him to fill up
a portion of his required
be scrupulous as tothe sheet, and he cannot afford to
means of doing so. " Our
London Correspondent" is is of course in the confi.lence of
all the Ministers and all
the leading member., of the op-
position ; and 3 et, u
pi is own showing, if his boast he
true, he is betraying all 01 h
the secrets intrusted to him on all
sides, for a few Shillings a week from a country news-
paper. He knows thantr:
hord J•ihn Russell will not be in
at
office another month ast four year 3 before he goo;
out, and thus " our Lund: n Correspondent" proves the
access he has to very, very early (a little too early) in-
telligence. He can tell you who is to have the next gar-
ter, when there is one vacant ; and has seen letters from
Jenny bind or Mendelssoh
n, notwithstanding no letter
has been written by either of these illustrious indivi-
duals. In fact "our London Correspondent" lives in a
world of his own, which enables him to see a great deal
more than is seen by any body
that there can be prove the
his
no witnesses to
contrary of
assertions, for his facts
are so truly original, that -he
has thein all •
.t
..., to himself, and no one else has an
al LAt- meeting them,--pwit.h. oPportu-
cs -or Arwraits IsoN STEAMER.—On Sa-
turday
afternoon a fine new iron steamer, called the Joseph
Miller, was sent off the stocks
building yard of Miller, Ray into
the Thames, from the
%hill and Co., at Orchard
Wharf, Blackwell, in the presenc
e of a considerable number
of spectators. The vessel was gaily
&c. ; her paddle-boxes were up, and dressed out with flags,
a good deal of her in-
terior work done, so that there wa
weight ; but she glided into the waters more than the usual
strain ; and when afloat the extreme e without the slightest
seen to great advantage. She was built
for the Lower and
Middle Rhine Company, and for service on that river, after a
design of Mr. Pasco. Her length between
is 175 feet ; breadth of beam, 19 feet ;
d the perpendiculars
mid-
ships, 9 feet; draught of water, 2 feet 10 iepth of hold,
measurement, 314 10-94ths tons. She will
inches. burden, burden, old
be fitted with a
Oscillating engines,
pair of Miller and Co.'s 40-horse power
and be lightly rigged with two masts. ner saloons, cabins,
&c., are to be handsomely decorated, and furnished by first-
rate artists, and will probably exceed in elegance and com-
fort any vessel of the same class now afloat
given, at the urgent request of the owners, as
The name was
s, as
to Mr. Miller as an engineer, and an
expression of the a compliment
com-
pany's sense of the important services he has rendered them
by supplying them with their best vessels, especially t.l
Elberfeld and Concordia, which have no e
for speed or accommodation. After the als on the Rhine
launch a numerous
party of ladies and gentlemen partook of refreshments in a
room commanding a full view of the river, over
counting-
house at Orchard Wharf.
Success
to
oththe e
Joseph Miller"
'i
was of course drunk with all the honour,' followed by " The
health of Miss Ravenhill," sister of the
second partner of
the firm, who had performed the ceremony of baptism with
great spirit. The Joseph Miller will be completed with all
possible dispatch; the engines are nearly ready, and the
vessel will, in all likelihood, be on its station by the first or
second week in June.
SALE OF THE GREAT WESTERN STEAM SHIP.—The
Great Western steam-ship was sold at Bristol on Friday to
Royal Captain Chappell, the secretary of the West India
Steam-packet Mail Company, for 25,0001.,
put
on her when she
exclusive of her
plate, and which was the reserve price
was offered for sale by auction a few weeks
w
since. She will
proceed in a few days to Southampton, from which port it is
intended that she shall sail for a five months'
s voyage, and at
the expiration of that period we are informed
that it is the
Campany's intention to lay her up and expend a large sum
upon her (report says 10,0001.) in repairs,
—On. refitting, &c.
THE ELECTRIC TELEGRAPH. Saturday orders
were given that the electric telegraph wires of the South
rn-
Weste Railway, now conducting to the
St. Admiralty, should
pass through Spring-garden gate intoJames's Park, to
enter the Admiralty from the parade ia front of the Horse
egad/.

KING'S COLLEGE HosrlTAL.—ln consequenae of
the great increase of applicants, both for in and out-door
relief, and the inadequacy of the funds to meet the ex-
penses, the committee have just issued the following report,
and appeal to the affluent to come forward and assist the
governors of the institution in their endeavours to con-
tinue the usefulness of the hospital. They say— "There
is no locality in the metropolis where the assistance of an
hospital is more needed than that in which King's College
is situated, being surrounded on all sides by a dense
mass of population. During the past year upwards of
16,500 out-patients and 1,296 in-patients were cured or
relieved. The expenditure for the year exceeded the in-
come by 6301. The committee are desirous of continuing
to admit all who come with or without letters of recommen-
dation ; but as they have no funded property, and rely en-
tirely upon the donations and subscriptions of the benevolent,
they will not be enabled to do so unless some assistance is
afforded them."
ROYAL FREE HOSPITAL, GRAY'S INN ROAD.—
Owing to the continued severity of the weather, coupled
with the prevalence of typhoid fever, the doors of the Royal
Free Hospital, in Gray's Inn-road, have been literally
thronged with desitute sick applicants for relief or admis-
sion. The number of patients amounted yesterday to 333.
The asylums for the houseless in various parts of the metro-
polis being closed for the season, accounts for this pressure

upon the institution.
DEATH OF LADY GODOLPHIN.—We regret to learn
that intelligence of the demise of the above lady, sister of the
Earl of Auckland, was received in town yesterday. The
melancholy event took place on Saturday morning, at Gog,
magog Hall, Lord Godolphin's seat, in Cambridgeshire, after
a short illness. Her Ladyship was third daughter of the
late Lord Auckland, and was born on the 21st of March, 1780.
The deceased married on the 31st of March, 1800, Lord
Francis Godolphin Osborn, second son of Francis Godolphin,
fifth Duke of Leeds, who was in 1832 created a Peer of the
United Kingdom. By her Ladyship's marriage with the
Noble Lord she leaves issue three sons. The families of the
Earl of Auckland, Lady Brougham, the Hon. Mrs. Vansit-
tart, Lord Bexley, Mr. C. and Hon. Mrs. Drummond, the
Countess (Dowager) of Buckinghamshire, &c are placed in
mourning by her Ladyship's death.
EXTRAORDINARY. ATTEMPT AT SUICIDE BY A
RESPECTABLE FEMALE.—Yesterday afternoon, between the
hours of two and three o'clock, the neigbourhood of Man-
chester-square was thrown into a state of considerable alarm
and excitement in consequence of the following extraordi-
nary attempt at suicide made by a highly respectable female
whilst labouring under some temporary mental aberration.
It appears that the unfortunate victim, named Fanny Richey,
aged fifty-six, had for some months past resided at No. 19,
Henrietta-street, Manchester-square, and was somewhat re-
markable for her eccentric ways and habits, though it was
little suspected that she was-of unsound mind. At eleven in
the morning she was in conversation with the landlady, after
which she retired to her apartments at the upper part of the
house, and at the period specified above she deliberately pro-
ceeded to the roof of the house by means of a small ladder,
and at once precipitated herself into the street. She fell in
a diagonal direction, and lodged upon the area rails, her
clothes having caught, and thus the unfortunate creature
miraculously escaped an instantaneous death. The occur-
rence was seen by several persons passing by at the time,
and police-constable 109, D division, states that her dress
caught on to the spikes of the rails, so as to break the tall,
otherwise she must have been killed on the spot. The unfor-
tunate creature was then conveyed in a cab to the Middlesex
Hospital, and Mr. Dickson, the house surgeon, ascertained
that she had sustained, besides a dreadful wound on the
head, some severe internal injuries. so as to leave little hopes
of her ultimate recovery. She is unmarried, and very re-
spectably connected.
LIBERALITY OF THE DUKE OF BEDFORD.—IES
Grace the Duke of Bedford has, we understand, most liber-
ally intimated his intention of giving out of his own private
resources, in addition to a former gift of 10,0001., the sum of
3,0001., still required by the Commissioners of Woods and
Forests for the parish of St. Paul, Covent-garden, as the
amount of its contribution towards the formation of the new
street from Leicester-square to King-street, Covent-garden,
and which, but for his Grace's kindness, would have had to
be raised by a rate on the parishioners. It is understood
that this great metropolitan improvement will be forthwith
coin menc ed.
APPROACHING ELECTION OF SHERIFFS.—The Lord
Mayor has named James Hartley, Esq., chairman of the
Peninsular and Oriental Steam-packet Company, for sheriff
for the ensuing year, and it is expected that that gentleman
and William Cubitt, Esq , will be put in nomination on Mid-
summer-day next ; both gentlemen have expressed their
readiness to accept the office if elected.
ROYAL HIGHLANV SCHOOL SOCIETY.--The 74th
anniversary of this institution is to be celebrated on Saturday
next at Freemasons' Hall, when his Royal Highness the
Duke of Cambridge will preside, and the Duke of Wellington
has promised to attend. We know of no society in Scotland
which has greater claims to the sympathy and liberality of
the public than this; and we fondly hope that these claims
will be generously met at the approaching festival. It is a
singular but gratifying fact, that the best and bravest in her
Majesty:s Highland regiments have been educated in these
scaumnis Ot itiftruotion•

THE SUN, I.ON DON, MONDAY EVENING, APRIL 10, 1847

THE GOLD CURRENCY.
(From the Post.)
The accounts of the Bank of England which we pub •
lisbed on Saturday show that a very important diminu-
tion of the means of the Bank for carrying en its busi-
ness had taken place between the 3d instant and the 10th
instant. On the 3d instant the establishoent possessed
in its bulking department 3,699,7001. in notes, and
691,770/. in coin, applicable to the carrying on of its
harking business. On the 10th instant the same de-
partment held 2,832,9151. in notes, and 630,7131. in gold
and silver coin, applicable to the carrying on of its
banking business. On that day (the 10th instant), the
issue department held of gold and silver coin and bullion
the sum of 9,236,340/, but over this sum the banking
department of the Bank had no control. The whole
funds of the Bank, and of all its branches which could
be made use of for payments to the public on the 10th
instant, amounted to 3,463,6281., and if more than that
amount had been demanded by those depositors who had
a legal right to make the demand, the Bank must have
stopped, though in its issue department it held 9,236,3401.
lying useless—useless, at all events, in the sense of cir-
culating money. It was understood last week, by persons
likely to be well informed on the subject, that on the 17th a
large sum would become due to the Bank in liquidation
of a part of its securities. This sum being paid to the
Bank in notes would place it in a considerably stronger
position than it was in previously, but as this sum of
bank-notes would be withdrawn from the general circu-
lation, the payment would tend to increase the " tight
nests" of money, and consequently the pressure upon all
who have to make money payments in the course of their
nusiness, or in the payment of bills which they accepted
nteder an eater state of circumstances. These are but
the details of that pinching, draining, exhausting system
to which money convertible into gold, ceupled with a
free trade in gold, must always be liable, and which has
been so excessively aggravated by the additional restric-
tions of Peel's Bill of 1844—that "complement to the
measure of 1819" of which he made suet vainglorious
boast in the prosperous period of May, 1844. It was
true that previously to that time the Bank was liable to
be pressed for payment of its notes in gold, but the
directors had such opportunities of knowing the chan-
nels of distribution of their notes, and such means of
judging whether they were, or were not likely to be called
upon to pay to a large extent in gold, that they could issue
notes, under certain circumstances of pressure, without
imprudence, although not holding gold against such
issue. Say that they were drawn upon for a million or
two, which they knew would go into the hands of per-
sons who, within a week, would repay these very notes
to them upon another account. This often happened,
and when it did happen it made no difference to the ac-
commodation given to the public at large •, for the Bank
increased its issues, or had the power to do so, in order
to meet the particular case. Since Peel's Bill of 1844,
however, there is no such liberty left with the Bank.
If to-day, out of the fifteen millions of deposits which
the Bank holds, a million or two were withdrawn, the
bankers, well knowing that this day week the notes
would be repaid, and in the meantime would lie in some
iron chest in Lombard-street, still the Bank must pro-
portionably diminish its accommodation to the public,
for without bank-notes it cannot accommodate the public,
and it has no privilege to obtain from the issue depart-
ment a million or two to replace those which have gone
to the iron safes in Lombard-street. It can only obtain
notes as any private individual could, by giving gold
in exchange for them, and that it has not to give.
Such is the working of Peel's Bill, which some per-
sons have still the effrontery to talk of as a beneficial
measure I To whom is it beneficial? Does it serve the
trader who relied upon the discount of good bills for
meeting his engagements, and finds he cannot get dis-
counts, or cannot get them except at a premium which
takes away all his profit? Does it serve the owner of
Consols, or of Shares in joint-stock companies, who has
occasion to turn his securities, or a part of them, into
money, and finds them enormously depreciated in conse-
quence of the scarcity of money? Does it serve the
banker, who is liable to heavy demands being made upon
him, and who fears to make use of the funds deposited
with him, lest, from the increasing pressure, deposits
should be withdrawn? No, it serves only the owners of
large sums of ready money, over which they have ab-
solute control, and who, in such a time, command almost
what remuneration they please for temporary loans.
These only are the people who thrive by such circum-
stances of pressure as such a Bill as Peel's Bill of 1844
must inevitably lead to, whenever the course of mercan-
tile affairs takes large sums of gold out of the country.
A letter to the Chancellor of the Exchequer has been
sent to us, in which the writer (Mr. T. Lamie Murray)
points out the circumstances of difficulty under which
the monetary concerns of the country are now placed,
and suggests a remedy. The remedy proposed
is an interference with the business of the
Bank of England, which we cannot conceive
that any gentleman not concerned in that es-
tablishment has any right to propose; but his statement
of the circumstances which require some remedy is worth
attention, and the more so because we believe gr. Mur-
ray's experience entitles him to give an opinion upon
such matters. After adverting to the circumstances of
the potato famine, he proceeds to say:—
" Eviry one will admit that this visitation of Divine
Providence is in itself of sufficient magnitude, but when
it is increased by a monetary crisis, it may become to
the last degree inconvenient.
" One of the arguments against the abolition of the
corn-laws was the apprehended disturbance of the cir-
culation of the Bank of England by the efflux of bullion
in the purchase of corn. But when that argument was
put forward, it was never contemplated that this dis-
turbance could bear the smallest ratio to the quantity of
corn imported into western Europe, and likely to arrive in
the count- of this year. If, therefore, what was consi-
dered a serious inconvenience on so small a scale, as one
ventured to assert, how much must the evil assume the
character of serious alarm when this importation of fo-
reign corn, and the consequent efflux of the precious
metals, is carried on upon a scale of magnitude beyond
parallel, and p,rfectly disproportionate to the resources
of the Bank of England acting under the restrictions
impasel by the Bill of 1844?
"It should be remembered that this state of things
has suddenly come upon the country in the very midst of
engagements for public undertakings of all kinds un-
precedently large, and resting on private means for their
execution, already _sanctioned by Parliament, and of
others awaiting that sanction.
" At no period in the commercial history of this
country has such an amount of floating values existed
upon the stock markets.
" I am disposed to agree that the amount of enter-
prise to which capital is pledged, and now in the course
of being required, is entirely disproportionate to the an-
nual surplus.
" This state of things is not alone confined to England
—France, Belgium, and Germany are, with ourselves,
equally purchasers of corn, equally require bullion for
the purpose, and are equally engaged in extensive rail-
way constructions, requiring a large capital and resources.
"To this surcharged state of things must be added
the deficiency in the cotton crop, its influence on em-
ployment and manufactures. The loss to the consumer
in the difference of price is estimated at more than
4,000,0001.
" I have drawn your attention to these facts with a
view of proving that the state of England and Europe,
both in respect to the deficiency of food and the under-
takings in which all are engaged, is widely different
from that of the year 1844, when the law regulating the
Bank of England was passed.
" At that period, acd under widely different circum-
stances, the inconvenience that might result from an
exceptional state of things was foreseen by some of oar
most extensive and sagacious London bankers, who, in
the memorial signed by some of the most eminent firms,
dated the 11th June, 1844, clearly indicated a case such
as has now arisen, fur which the law has made no pro-

vision.
" A situation of embarrassment, which was deemed
possible, has at length arrived ; and the Bank of Eng-
land, coerced by the law of 1844, is no longer able to
interpose a barrier against the sweeping torrent of de-
preciation, and public and private discredit that has set
in. The Bank has already exhausted its resources, and
overstepped its prudence. The effort has been perhaps
praiseworthy ; but the endeavour has been vain.
" In former times, at periods of distrust, the aid of so
powerful an establishment has always, when exerted, in-
vigorated the disorganisation of private credit, without
injury to itself ; but the Bill of 1844 entirely destroyed
this useful function, and in this exists its greatest error
and deficiency.
" Under the law of 1844, sooner or later in this year,
the present state of things was inevitable. In the one
case, had the Bank restricted its accommodation, the
'panic would have resulted from real pressure; and in the
other, as in the present instance, from anticipated pres-
sure, arising from the exhausted and hopeless condition
of the Bank."
The remedy proposed by the writer of the above is,
that the Bank should employ a large portion of its " rest"
in purchasing two and a half millions of Government se-
curities, and be empowered by Act of Parliament to issue
that amount of bank-notes against such securities, over
and above the sum at present allowed to be issued against
such security. This might, no doubt, be serviceable as
a temporary expedient, if the Bank thought fit thus to
make use of its accumulated profits; but no one, except
the Bank itself, has any business to propose such an ex-
pedient. Besides, we must remember that the vicious
principle would still remain which compels the autho-
rised issuers of paper money to contract their issues as
gold leaves the country, while the policy demanded by
the nature of the case, and by common sense, is that as
gold money is taken away from the country some other
medium of exchange should be proportionably supplied
for the purpose of carrying on the vast business, both
internal and external, in which the country is engaged.
he I

THE MAILS.—SOUTHAMPTON, APRIL 16, TEN P.M.
—The Oriental Company's steam ship Montrose, Captain
Burney, has just arrived in the docks from Gibraltar, with
the Peninsular and Mediterranean mails, which will be
landed under charge of Lieutenant Newenham, and for-
warded to London by the 2 A. at mail train of the 17th. The
dates are Gibraltar, April 4th ; Cadiz, sth; Lisbon, 10 ;
Oporto, 11 ; Vigo, 12. She brings 19 passengers and a full
cargo of fruit. Ships at Gibraltar, Virago ; at Lisbon,
Hibernia, Trafalgar, American, Phoenix, and olyphemus.
The MOntrose spoke the Royal Tar off Portland, outward
bound. The Montrose experienced fine weather out, but
strong gales from the eastward home Our Portugal news
will be found in another pat tof our paper. April 17.—The
Royal West India mail packet Forth, Captain Chapman,
left the port at 3 P.M. this day for the West Indies, with the
usual mails, in charge of Lieutenant Hay, R.N., Ad iiiralty
agent. She has taken out 60 passengers. including the
' Bishop of Barbadoes, family and suite, 11,0901. in valuables,
and very full cargo. The Oriental Company's steam-ship
Madrid, Captain Weeks, left the docks at 3 P.M. this day for
Gibraltar, with Peninsula and Mediterranean mails, in
charge of the Admiralty agent, Lieutenant Smyth. She has
20 passengers on board also 500 barrels of flour, and full
cargo of bale goods.
The statue of Marshal Bessieres, Duke of Istria,
was inaugurated on April 5, at Fraysac (Lot), the marshal's
natal town. Upwards of 20,000 persons were punt on the
00048i411.