The Sun.
London, England, 1840-10-28 00:00:00

made in an address expressly designed to promote a
mutual good understanding between the staff of the
regiment and their commanding officer, and at a mo-
ment when the severest military punishment bad
(upon the complaint of that commanding officer) been
relentlessly inflicted upon one of his captains for a first
offence, clearly provoked by those very faults for
which the Lieutenant-Colonel was reprimanded. While
we were unwilling to believe that Lord Hill could have
determined upon the adoption of a course of conduct so
inconsistent with reason and justice—while we consi-
dered it absolutely impossible that he should have or-
dered it to be announced is such a manner, we still

There was a considerable demand for bills upon
Hamburgh on 'Change to-day, and the supply not being
adequate to meet it, there was consequently a depres-
sion in the rate of exchange. On Amsterdam there
was a considerable amount of American bills offering,
and the rates upon that place, as upon Paris, may be
considered much the same as last post.

CHRONICLE.—AIthough we remain in uncer-
tainty as to the result of the Ministerial crisis in Paris,
a feeling of confidence prevails that a peace Ministry
will be established under the auspices of Marshal Soult,
and that on the arrival of M. Guizot important steps
would be taken towards the formation of the new Cabi-
net, preparatory to which the meeting of the Chambers
had been postponed till the sth of November.
The signal success which has attended the operations
of the Allies in Syria, and the change of Ministry in
France, would have been attended with a decided im-
provement in the English Funds if they had not been
depressed by the tightness in the Money Market, pro-
duced by the limitation of discounts by the Bank of
England. The rates in the discount houses continue at
fully 6 per cent., and on the Stock Exchange money
was wanted to-day on Consols at fully 4 per cent. The
fall in Exchequer Bills is accounted for by the demand
for money.
Our Philadelphia correspondent mentions that the
revenue of Chili for the past year was 52,289,108
the expenditure $1,700,000, and that 5200,000 had
been remitted to England on account of the dividends.
Still no results beneficial to the bondholders have as yet
transpired out of the presence of Senor Rosales in
London. We are willing to believe, however, that his
time is taken up in making the necessary preparations
for the promised paymeat, and that the requisite an-
nouncement will speedily be made public. It is stated
by our correspondent that the war against Bolivia and
Peru would not anticipate the revenue, nor cause new
loans or new taxes. This is important, but the notion
of a bankrupt state like Chili carrying on a war at all,
except for self-defence, is entirely insufferable. The
money expended in paying troops and defraying expenses
of armies against her neighbours belonged to the
English bondholders, and it was a gross fraud upon
them to apply it either to objects of external aggression
or of internal improvement.

thought that the form in which the statement made its
appearance required contradiction. That contradiction has
not been*given ; and, from information which we have
received from private sourees,''we now suppose there
can be no doubt that some such address (though not,
. .

indeed, to the precise effect reported in the Brighton
Herald) was actually delivered by Sir John Macdonald
to the officers of the llth Hussars. The observations

which were really made by the Adjutant-General appear
to us to be susceptible of a very different interpretation
from that generally put upon them by our Contempo-
raries, and after stating what we believe to have been

their substance, we will explain the views we are in-
duced to take of their meaning. We understand that,
after the officers were assembled, the doors locked, and
names called over, Sir John Macdonald requested that
all present would pay serious attention to the wishes of
the Commander-in-Chief ; and expressed Lord Hill's
deep regret that in a regiment which could boast of
the honour of being commanded by the Consort of

her Majesty such dissensions as had become too noto-
rious should unfortunately exist. He then read a let-
ter from Lord Hill, which referred, we ,believe, to the
nature of those dissensions, and the circumstances

under which they had arisen, alluding particularly

o the court. martial held, and the sentence passed, upon

Captain R. A. Reynolds. It stated is the strongest
terms the indispensable necessity of harmony, unanimity,

and a mutual good understanding between the officers
and their Lieutenant-Colonel, declaring that a regiment
in which unanimity did not prevail was unfit for service,

and expressing the fears of the Commander-in-Chief

that such was now the case with the 11th Hussars.
That the harmony, therefore, which until recently

had existed in that regiment should be speedily
restored, was an object of paramoUnt importance.
His Lordship then proceeded to declare his views

POST.—The advises from the French capital were
again of a favourable tendency. There is a greater
disposition on the part of the people to support the in-
terests of the King and the newly-appointed Ministry
than had been anticipated by our speculators here, and
prices are accordingly looking up. Consols opened at
87i for the Account, and subsequently advanced to 871,
but from this they receded to 87i. The bcar party did
their utmost to make an impression upon the market,
and, to a certain extent, they succeeded ; but the ope-
rators of that section proved too weak for the full ac-
complishment of their purpose. The state of the Money
Market is decidedly in their favour, inasmuch as the
scarcity of accommodation which is beginning to be felt
as so great an inconvenience to the trading and still
more to the speculative interest in the country towns
cannot but have its influence in the metropolis before
long, if, indeed, it has not done so already.
In the Bank and Miscellaneous Share department
there was literally nothing passing, but indisposition to
do business upon anything approaching to a liberal scale
was almost observable in those of the Railway Corn-
panies. The reduction occasioned in the supply of
money by the recent alteration made in the arrange-
ments of the Bank of England, with respect to dis-
counts, is still severely felt by share adventurers, though
there can be little question that the frequency of acci-
dents on the various lines of late has tended in a greater
or less degree to check them in their career, especially
those of the number who were speculating more particu-
larly for time.
The exchanges on some parts of the Continent are
found to be less favourable again. The rate quoted
from Hamburgh is decidedly so. With us, the bills
negotiated this afternoon were, with the exception of
what were passed on that city and Frankfort, though as
nearly stationary as possible, a shade better, upon the
whole, than on Friday last. The corn-importing houses
were considerable takers, a circumstance from which it
is concluded, that, availing themselves of the reduced
rates caused by the temporary closing of the British
ports, they are once more buying up grain in the north-
ern markets. Such is, in truth, known to be the fact,
and, be the consequence what it may, we feel bound,
therefore, to state it. These renewed operations in
corn will, it is evident, interfere much with the measures
of the Bank of England, the object of which has been
to rectify the exchanges, so as to prevent the further
drain on their gold reserves, and to give increased cur-
rency to our manufactures and colonial products abroad.
It has been stated in one of the Journals that, see-
ing cause to be dissatisfied with the proceedings of the
Board of Directors at Philadelphia, Mr. Jaudon, the
London agent of the United States :Bank, had given
notice of his intention to separate la,:mself from that
establishment. It was added that :Mr. Jaudon was,
moreover, on the point of connecting himself with
another banking institution on the termination of his
labours in the service of the former concern. Doubt-
ing the accuracy of this report, we have made inquiry
upon the subject, the result of which is that we find
it to be without foundation. There does not appea
to be a syllable of truth in either part of the state.
ment. Indeed it follows, pretty munch es a matter of
course, that, if the first portion of it could not be
substantiated, the second must inevitably fall to the
ground. The story has, we believe, been transferred
from the columns of a New York Paper which is but
too apt to give insertion to important announcements
without the requisite authority.

of the relative duties of subordinate and command-

ing officers :—" All British officers were gentlemen,
and were bound always to maintain that character
with unblemished truth and honour. On the part
of those in an inferior rank insubordination, caviling at
orders, mere groundless complaints, perverse miscon-
struction of language, and gratuitous imputation of
offensive motives, were unworthy of both the characters
which they bad to sustain. On the other hand, it was
the duty of a commanding officer to be gentle and mild
towards his officers ; to make some difference between
home-quarters and colonial service ; and not to visit
trifling offences with severity. In the present case his
Lordship could not help expressing his conviction that
if Lord Cardigan had acted with more moderation,

fewer complaints would have been made, and promised
that if any future complaints should be properly re-
ported, they should be strictly investigated. As
for the past, he would not any further recur to
it, or suffer others to do so. He forbade officers
to speak of it. The object of the present letter
was not to rake things up, but to heal." This,
we believe, with some general compliments upon the ap-
pearance of the regiment at drill, was the whole suh-
stance of Lord Hill's letter and the Adjutant-General's
address. And who can read this account without per-
ceiving, by the effect which such au address must have
produced upon any high-minded and sensitive man
Lord Cardigan's position, what was the purpose and in-
tention with which it was actually delivered ? One of
the finest regiments in her Majesty's army, Prince Al-
bert's Own, is in a state of dissension which renders is
(so judges the Commander-in-Chief) absolutely unfit for
service. That such a state of things should be termi-
nated, is pronounced to be indispensable. And how oats
it be terminated except by the removal of its
cause ? And who is its cause except Lord Car-
digan ? Lord Hill does not order inquiry. And
why ? Not because no complaints have been made, for
there are many lying before him. Not because those
complaints are of too frivolous a nature to justify in-
quiry, or to become the grounds of animadversion and
punishment if proved, for his Lordship promises, that
if any similar complaint is hereafter made, it shall be
investigated. Why, then, is inquiry held to be unne-
cessary ? Plainly because, even without inquiry, the
Commander-in-Chief is convinced that the complaints
which have arisen are only too well founded, and tvoulEl
never have been made if a proper degree of moderation
had been displayed by the Lieutenant-Colonel. But
lest the Lieutenant-Colonel should suppose that he will
be permitted to continue in the regiment, giving vent
to the same unbridled license of temper and tongue
which he has been proved by experience to be incapable
of learning to restrain, it is distinctly intimated that this
is the last opportunity which will be afforded him of
retiring without judicial disgrace ; and it he remains
to give occasion to further complaints, no influence
can be hereafter interposed to prevent the law of equal
military justice from taking effect upon himself as well
as upon his captains. Let him, therefore (so advises
Lord Hill, with a silence more emphatic than words),
now retire at once, while he can do so with honour.
All that I can do (his Lordship would say) is to give
him this last opportunity. Let him take the only step
which can restore unanimity to Prince Albert's Hus-
sars. Let nothing be said or done, under the actual
circumstances, to deprive his retirement of the appear.
ance of being a voluntary act. I request, I command
the officers to spare me the necessity of going further
than this, to spare Lord Cardigan the mortification of
doing, under compulsion, what it is more expedient that
he should do of his own accord ; to spare the army at.
large, and the llth Hussars in particular, the discredit
and the injury to military discipline which must arise from
any further public exposure of their disagreements. Lord
Cardigan must and will appreciate his position; he will
see that there is only one way to save himself frosts fn.
ture disgrace, the regiment which be command/ from
perpetual discord, the Commander-in-Chief from the
imputation of partiality and injustice, and the principles
on which the discipline of the British stymy is adminis-
tered from the heaviest impeachment at the bar of
public opinion. Let the officers doltheir best to snake
his parting from the regiment as little painful as possible,
let the past be forgotten, and let every (see exert him-
self to promote the immediate regioration of htrinouT
and mutual good will. This, we are sure, is the true
ryaeidontopthriedayllitahatelt sus.
ItilitehaedmAod
jnuittiaoan
.cGonenvee
smktersa,ntihngrooufg
is possible, we know, to take a different view of tome
parts of the language used ; but the Intrinsic probabi.
lities of the case, as well as our unaffected respact for
Lord Hill, prevent us from doing so. We trust Lord
Cardigan will lose no time in acting upon the hint whiall
has been given him with so much delicacy and forbear.
ance, and save us, as:well as the officers whom he has in-
jured, and the Commander-in-Chief, from the naoassity
of any further recurrence to the subjedt.

SUN.—The news from Paris had no marked effect
on the value of the public securities, which were influ-
enced by sales made on account of one or two parties
having stock to deliver, and by the state of the Foreign
Exchanges. Consols closed at 87-i 1 for money, and
871 to t for time : Exchequer Bilks did not rally be-
yond Is. discount; Bank Stock was at 1611 ; and the
New Three-and-a-Half per Cents. at. 964 to 97/.
The Foreign Securities were very dull, and the fluc-
tuation in prices was altogether triviatil. Spanish Active
Bonds were at 211 to 211 ; Portuguese New Five per
Cents. at 321, being a shade lower ; Colombian Six per
Cents at 22,E ; which is I per cent- better ; and Mexi-
can Five per Cents. at 261, being about the same as
previously ; Brazil Stock was at 74 ; ;and Belgian at 98 ;
Russian Bonds advanced from 1091- to 110 and 11 I ;
French Five per Cent. Rentes from 105 f. to 1071.50 c.
and 106 f. 50c. ; Dutch Two-and-a-lialf per Cents. from
494 to 50, and the Five per Cents. 'from 941 to 951.
This afternoon a few bargains ‘v.-re effected in the
Railway shares at the subjoined prices, which are in
some instances not quite so good, akihough the markets
in Lancashire seem to be getting up a little. The Great
Western 131 to 12/ ; the New 4 ; the Fifth Shares 21
to 21 ; the South Western 111 to I.!21 ; and the Man-
chester and Leeds 9 pre:nium. This Birmingham and
Gloucester Shares have been at 1.;1 to 10 ; and the
Brighton at 131 discount.
The Foreign Exchanges keep mulch in their old po-
sition. On those cities where an improvement has be-
come perceptible, there has been the. decline to-day, if
we except the Northern bills, which., our readers know,
have been very depressed for a long time past, and ob-
stinately against us, though on the last two post days
there were symptoms of a partial roily, occasioned by a
slackened demand. We allude more, especially to dam-
burgh, the rate upon which place to -,day was 13 7, or 1
to h worse. This is no doubt the result of the lower
quotation brought over by the mail: of Friday. Paper
on Frankfort was negotiated at 1484 ; on Amsterdam
at 12 2 ; on Vienna at 10 1 to 10 11 ; on Trieste at
10 1 to 10 2 ; and on Paris at 25f.:. 421 c., to 471 c.
The following is the official return of the exports of
bullion from the Port of London, for the week ending
Thursday last :
Silver coin to Hamburgh 6,000 ounces.
Slyer coin to Rotterdam
Silver coin to Belgium....
Silver in bars to Rotterdam 88,617
Silver in bars to
Gold coin to Port Ade1aide...........- 125
Gold in bars to Rotterdam

FROM THE MORNING PAPERS OF THIS DAY.
(From the Morning Advertiser.)
Accidents on railways, with appalling loss of life and
mutilations of body, have recently become so frequent
as to devolve an awful responsibility on those entrusted
with the direction and management of these mighty
agencies of human intercourse and traffic. That these
accidents have been, for the most part, if not solely,
the result of negligence, or improper management,
rather than of casualties necessarily incidental to
railway travelling, is a fact which, while it should
stimulate the vigilance of those charged with its con-
trol, affords at the same time the most gratifying as-
surance that the good—incalculable as it is—Which
railways are destined to achieve will not be seriously
or permanently impaired by the dangers of which
recent occurrences might excite the apprehension.
It is imperatively incumbent on the Directors of
every railway in the kingdom immediately to institute
a most searching scrutiny into the regulations of the
several lines under their management, and also into
the habits, character, and efficiency of those employed
thereupon. The scrutiny is prompted by private in-
terest as well as by a regard for public safety. One
of the recent accidents occurred from not allowing suf-
ficient time to intervene between the starting of the
trains and the neglect of efficient signals. Another
from the engine-driver applying a power beyond what
the construction of the rail could safely bear ; and the
last fatal occurrence happened, it would appear, from
the engine-driver having fallen asleep. The other re-
cent catastrophes have occurred from similar causes, all
which demonstrate, beyond the possibility of denial,
that by better management this lamentable loss of life
might have been prevented. This is a statement which
the Directors and Proprietors of railways themselves
should have no hesitation to admit, for if such catastro-
phes as those to which we allude be the inseparable at-
tendants of railway travelling, scarcely any one would
be found to venture life on such a hazardous mode of
conveyance. It is because such accidents may be
guarded against that we augur no permanent detriment
to railway property—no ultimate privation of their ad-
vantages to society, from their attendant danger, when
once placed and maintained under an improved system of
management. The profits of railways generally can well
afford a vigilant and efficient administration, and if the
Directors neglect their duty, after the horrifying examples
recently given of the consequences thereof, it will be for
the Legislature to take the affair into its own hands, and
adopt such measures as may be deemed necessary to
protect the lives of the public. It may in any case be
desirable to have inspectors appointed by the Govern-
ment to watch over the general regulations of every
line, the conduct and habits of all immediately employed
upon it, and to report immediately whenever they dis-
cover anything likely to cause danger. By such means
travelling by railway would become as safe as any other
mode of conveyance. In making these observations, we
are influenced only by public interests, and beg to be
considered as altogether aloof from the personal acri-
mony which embitters the remarks of the Chronicle and
Times. We neither wish:to advance an individual in-
terest, whatever may be the public hazard, nor have we
any spleen to gratify by wantonly or mischievously de-
preciating another's property. The virulence of cur
Contemporaries, however, may have a good effect in giv-
ing the subject, grave in itself, the zest of their recrimi-
nation, and, therefore, we wish not to interfere with
their indulgence.
(From the Morning Post.)
All who have paid attention to the progress of affairs
relating to the pending election of High Steward of the
University of Cambridge must have perceived strong
symptoms of a disposition on the part of Lord Lyttel-
ton's supporters to cultivate the favour of the resident
members of the Senate, to the neglect and disparage-
ment of those Masters of Arts who have emerged from
the cloistered seclusion of a college life, and embarked
the faculties and acquirements with which nature and
education have endowed them in the business and duties
of the active world. It is no wish of outs that any oc-
casion should arise to institute a comparison between
these two classes of voters in respect to their relative value
and importance. We have the highest respect for both ;
and we believe that we shall not be deemed unjust
towards either when we express the opinion that at any
election of an University officer, having constant or fre-
quent duties to discharge within the University, the votes
of the resident members of the Senate may fairly be
considered as of greater moral weight than those of the
non-resident members, but that the superiority of moral
weight in the suffrages of these two distinct classes of
electors changes sides altogether when the office to be
conferred merely implies confidence and confers distinc-
tion, when no active and continuous duties within the
University are attached to it, and when the general
practice has been to bestow it, as an additional
feather to his cap, upon a man who has already
attained to eminence in public life. In elections of the
former kind the non-resident voters seldom, if ever, in-
terfere ; and the resident voters decide absolutely, as
we admit they are the best qualified to decide, upon the
comparative merits of the candidates. We are very far
from claiming a similar ascendancy for the suffrages of
the non-resident voters in the latter kind of elections.
All that we object to is, such conduct of Lord Lyt-
telton's friends as seems to intimate the presump-
tion of an inferiority in value and importance of
the non-resident as compared with the resident mem-
bers of the Senate, in the election of a High Steward.
That Lord Lyttelton's friends are acting upon
this presumption is evidenced by circumstances which
can neither be contradicted not misconstrued. The
combination-room of Trinity College is turned into a
Committee-room for Lord Lyttelton, because the resi-
dent Fellows of Trinity espouse his cause, in opposition
to that of the most distinguished man that Trinity
College has produced in modern times, and although
the non-resident members of Trinity are so decidedly in
favour of Lord Lyndhurst, that an absolute majority of
the Noble and Learned Lord's London Committee
consists of Masters of Arts, who are members of this
College. But another and still more offensive intima-
tion of the low estimation in which the non-resident
voters are held by Lord Lyttelton's party is to be found
in a direct insult to the whole body of the clergy of
London, which we find in the Globe of last night—an
insult which is evidently something more than a mere
transgression of journalism.
(From the Morning Chronicle.)
We are enabled to lay before our readers a copy of
the memorandum read by the Adjutant-General to the
officers of the 11th Light Dragoons, at Brighton. It is
a strange document, and not a little ingenuity would be
required to show that the various parts of it are in
keeping with each other. However, a strong condem-
nation is certainly passed, by implication, of the conduct
of the Earl of Cardigan. He is told, for instance, that
he has to command a corps of officers either recently
returned from service in a tropical climate, in which
the habits and customs of the service must differ from
those on European service, or who have been but a
short time in the army ; that " he should never forget
that those placed under his command by the grant
to them of the commissions of our gracious Sove-
reign are gentlemen of education as well as hinzse?f;
under the protection of her Most Gracious Majesty,
of the authorities of the army, and of the law, as
long as they perform their duty and conduct them-
selves as officers and gentlemen ought ;" that "he
must recollect that it is expected from him, not only
to exercise the military command over bis regiment,
but to give an example of moderation, temper, and dis-
cretion, blended with the zealous activity and ability
for which be is noted." In a preceding part of the
memorandum it is declared—
"lt is impossible that it should not be felt that ti 11th
Hussars is not in a state in which a regiment ought to be,
in order to afford ground for confidence that it would, in
quarters or in the field, at home or abroad, reader the
efficient service which might be expected from a body of
non-commissioned officers and soldiers so well trained and
disciplined in the performance of their duty as light cavalry,
in such good order and uniformly so well conducted in
their barracks and quarters and this on accout of the
lamentable disputes and differences among their officers,
athieenircedainardesinpseucbtotroditnhaetiirocno.randing officer, their disobe-
But that the General Commanding-in-Chief feels con-
fident that the errors of the officers are not to be at- Bells Life in London of Sunday next,
tributed to wilful disobedience, insubordination, or dis- Ncv. 1, will contain a List of the Performances of the
respect (f the authority of their Colonel. To what,
Two-years-old in 1840, with reference to their future eta-
then, are we to attribute the circumstance that this re- sagements—Newmarket Houghton Meeting and Fancy
air— Full Particulars of the Great Fight between Count
giment is not in a state to render efficient service and
Because the Earl of Cardigan has not only not shown tilo Brassy—Letter_ of Ephemeraa__ t ontb
to the officers indulgent mokeration, but has forgotten Horseso wing weeks:
RAlphabettc 1
'Turf
of all Angling.o Winningthe
that the officers were gentlemen as well as him- —lrish
nets—CoursingnstpetO— y'e 1840—Review of thNeieleutirofgfso_r IGBr4coa,tbty
NPaetgi :Ina;
self ; and because the Earl of Cardigan has not given Steeple Chase—and everything interesting to the Sport—
an example of moderation, temper, and discretion ; for, ing World—the latest Political and Domestic News, Bas.
Adjutant-General,
asat
ttohethcoe
monition
particularly directed me to intimaie-
ncelottosno
ooffetohnedaude-t —Price of Bell's Life, scl.—Early orders to agents im
he ought to pursue, .‘ the g Bell's Life may be had 200 miles from London cal the
saysitthioen
General Commandiu all parts of the kingdom, or at the office, are indispensable.
in-Chief has
to his Lordship his sanguine expectation that this We are requested to state that the New Volume
day of puelicatien.
course of conduct will lead to a far less frc- of the Clockmaker ; or, Sayings and Doings of Sam
quent reference to his Lordship and the autho- i Slick, of Silekville," (third Series, in post evo.„ 'with nue
rilics if the Horse Guards obtained
of all kooks otters, and at all the tbraries.
Hussars than has been the case in the last months, and
from the morons Illast,.atinta,) is now ready,L. and can he
the result will be wore creditable to the army." So, NAT lONAL CHARACTERS.—In a 'well-knows
duct of the Earl of Cardigan has been
then, Lord Hill distinctly admits that the course of con- house 'in the City, the rendezvous of all. forei goers, as well
.
the reverse of as E- aglish and Irish, a Frenchman thought
expense of an intell.
) pen' t. and good-hum
Mr. More oTerrall had an int erview with the Chan- that which will lead to less frequent reference to the "r epany ats the
~Your count
.oured . to amuse the
said he, " scree
cellor of the Exchequer yesterday at his official residence Horse Guards, and to results more creditable to the
aer all uropean onarcns. ' "It is true," replied
in Downing-street. , army ! `Vial a triumph to the officers of th 9 11th u"-- •
the owiss, " we are poor, and we fight for that which we
Lord Adolphus Fitzclarence eel a dinner party oh Hussars! But then, though, according to Lord Hip , I
I most stand in need of—money or pay,call it as you will;
Monday evening, at his residence in St. James's Palace. the conduct of the Earl of Cardigan has been ens'e
but said he to the Frenchman, "whiA
d fight for
Among the Company were Sir Colin Campbell, Sir tlemanly and without moderation, temper, and Vcre- " Hon( nr," exclaimed the impe nous t •Fremman. 5, felt
George Talbot, Lord W. Leon, nt, Col. Gurwood, and tion, Captain R. A. Reynolds, whose conduct h' Ns been then," said the Swiss, "we both, it seems, fight for whit
Col. Berkeley Drummond. the necessary effect of that of the Earl of Cardoizao, is )we stand in need of most-..we for mot icy, jou for honour.