The Sun.
London, England, 1841-04-19 00:00:00

FROM TIRE MORNING PAPERS OF THIS DAY.

TIMES.—It was mentioned incidentally, some time ago,
that a joint-stock bank of issue in Lancashire had been a se-
vere sufferer from the failure of a house in the bookselling and
stationery line. The transactions of this firm turn out to have
been of a very extensive description, and one more joint-stock
bank in the country is talked of as having trusted another
house in the same trade to a serious amount, upon bills of a
very inferior description.
It appears to us strange that the managers of these country
banks should be so lax in their manner of doing business; as
we fell convinced that, had they exercised even a very mode-
rate degree of circumspection, they must have had it in their
power to check the unwarrantable system of paper accom-
modation which was for some time carried on by the
parties dhtaoewttehe snomn(siiednyb!teh
ea
edisplayiees of ingenuity.
iinhgee nbuoiotl.They _
sellers, who have, it is said, implicated several of the bill-
brokers likewise, and some of the City Banks. The plan
adopted was, to place some person in business as a bookseller
or stationer, who might serve as a " drawing-post," and who
had nothing to do with the bills he accepted, but to take them
up as long as his principals found, him the cash. For the suc-
cessful prosecution of this traffic he opened an account at a
banker's, and, in order to raise the wind, would present for dis-
count his draft upon some friend of similar character and standing
It appears extraordinary, now that the facts are known, how
such people came to be in the extensive credit they were, but
the regularity with which their paper was met would of course
tend to establish their reputation ; and when it is recollected
that the connection was scattered over several places in
the North, and that every exertion was used to force
their paper upon the bankers in their neighbourhood, it will
be seen that the game could be continued for a longer time,
though, from the increased hazard, greater skill was requisite
on the part of the players. Notwithstanding all the finesse
of the individuals who directed the concern, accidents of an
untoward nature came to pass, and we are concerned to state
that in some instances the names of parties in the circle have
been affixed to bills without their knowledge, the same being
protected at maturity. Other cases have been mentioned
where persons have inadvertently signed stamps in blank for
bona fide transactions, and who now find that larger amounts
than those of their actual debts have been filled in for which
they are made responsible. After, however, making every
allowance for the ability with which the system of bill-drawing
has been conducted, we cannot but think the bankers and bill-
brokers who affort!ed facilities for such wild proceedings have
been very deficient in vigilance and prudential caution.

SPIRIT of the PUBLIC JOURNALS.
FROM THE MORNING PAPERS OF THIS DAY.
TlMES.—According to our latest advices from the United
States, it is quite evident that the 1114Leod affair is about to be
amicably huddled up in a series of ingeniously-contrived shifts,
which we cannot but think savour rather strongly of elaborate
skulking. The changes, indeed, which American tactics have
undergone upon this once portentous subject, are somewhat
curious. Not long ago the fury of the Lockport population
against our imprisoned countryman was so great, teat, in or-
der to give him a chance for his life, the venue was to be re-
moved from that neighbourhood to the distant town of Albany.
It now appears that, notwithstanding the bad blood of the
Lockportians, it is the opinion of judicious men that they
would give him a fair trial. Formerly, the presumptive
proofs of the prisoner's guilt were said to leave little
doubt that his crime would bring him to execution ;
but, we learn the impression is now general that the
accused is entirely innocent. By the last mail we were given
to understand that the mere clemency of the American Go-
vernment had appointed M'Leod to be tried at Albany : yet
later accounts assure us that the place as well as the time of
his trial shall be left to his own discretion. Scarcely a month
has elapsed since we were informed that he was subjected to
severe restraints and privations : it turns out latterly, however,
that besides the privilege of seeing his friends, whenever he
chooses, he enjoys at present every reasonable comfort and in-
dulgence. At first, the Americans would listen to no repre-
sentations from any quarter that might retard the course of jus-
tice : but, on further reflection, every facility is to be granted
for preparing his defence, and any length of time will be allow-
ed to enable him to collect testimony. In a word, owing
to an informality on the part of his arraigners (doubtless air
unpremeditated one) his long anticipated trial has not only
gone off, but has been carefully allowed to do so, under such
lucky circumstances as may legally warrant the prisoner to
demand his imm"diate release : nay, the tables are so far
turned, that after having made every necessary arrangement
to enable him to obtain his discharge without let or hindrance,
his outwitted persecutors are so provoked at his refusal to do
so, that' they are now accusing him of sordid motives, declar-
ing that his recent difficulties -have been occasioned by his own
vain boastings, and that he calculates upon being wed paid for
his wrongful sufferings—perhaps by bills on some of the Michi-
:ran banks, whose chests of specie have been found to consist
chiefly of lead, iron nails, metal button, and such like pon-
derous bullion ! Really, all this is very pitiful*
CHRONICLE.—Mr. Larpent met the liberal electors of
Nottingham on Thursday evening last, when he stated the
grounds or which he claimed their support as successor to the
lamented General Ferguson. Ihe chair was tAkOn by Lord
Rancliffe. Mr. Larpent is a strenous supporter of the rights
of industry, and forcibly desribed the evilssuffered by the com-
munity in general, but more particularly the working classes,
from the Corn-laws. He avowed himself a friend of education,
of an eltension of the suffrage, and of the ballot ; and declared
himself hostile to church-rates. On the msition of Lord Rah-
eliffe. Mr. Larpent was declared a fit and proper person to
represent them in Parliament, and the motion was unanimously
adopted. Wr. Walter has started on the ground of per2e-
vering opposition to the new Poor-law, and the Times does not
certainly consequence of that gentleman, when
tells us underrate,,ha t the election
of Mr. O'Connell for Clare, or
tut the
of Lord Broughatn for Yorkshire, did not produce a stronger
influence upon the prospects of Roman Catholic Emancipation
or Parliamentary Reform than the return of Mr, Walter for
Nottingham, at the present moment, may have upon the future
course of the Poor-law question* Ask the Commissioners, ask
Lord John Russell in his character of their mouth-piece, what
individual they would wish, above all others, to keep outof Par-
liament ? They would unhesitatingly answer Mr. Walter."
Mr. Walter's oppOsition to the new Poor-law appears to
more advantage in the coluMns of the Times than it would
in the House of Commons. That Lord John Russell would
wish to exclude Mr. Walter from the House of Commons is no
doubt true, because Mr. Walter would vote with the Tories ;
but that he would wish to exclude him from an dread of his
eloquence reminds us of the Memoir:. p the
importance of a man to himself. ‘‘,
will • ld to no
r. akley yield
man, either in the House or out oe
. it, for hostility to the new
Poor-law, for it is impossible-4 . . .
it to a more
carry opposition to
extravagant length th-•
n he has done. Although we cannot
say much foe
wisdom or the logic of his philippics
again.' - of as indamma-
,Y showing
this law, yet, Pr!''invective,
mi. to the prejudices of the humble classes,
t°rY
aPP‘ anything which Mr. Walter:.
.could
they are superior to llfar
Yet Lord John nesse , so
mgt of last sea- produce in' this way.
from being disconcerted by Mr. Wakley's opposition, gave that

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