The Sun.
London, England, 1841-07-05 00:00:00

LONDON, MONDAY, J Y 5, 1841.

BANK OF AUSTRALASIA.
Incorporated by Royal Charter.
No. 2, Moorgate-street, July 1, 1841.
The DIRECTORS of the BANK of AIJS'IRALASIA
do hereby give Noti,!e, That an EXTRAORDINARY GE-
NERAL MEETING Q f the PROPRIETORS will be held
at the Office of the Corporation, as above, on MONDAY. the
26th instant, at One o'clock precisely, for the purpose of
ELECTING a DIRECTOR, in the room of JACOB MON-
TEFIORE, Esq., resigned.
By order of the Court,
WILLIAM MILLIKEN, Secretary.l I

LONDON and WESTMINSTER BANK.
EstahliAled 10th March, 18:34:

Under the Act of Parliament 3 and 4 Will. IV. c. 98.
DIRECTORS.

Henry Bosanquet, Esq.
Frederick Burmester, Esq.
Lord Wm. R. Keith Douglas
Joseph Esdaile, Esq.
Thomas Farncomb, Esq.
Sir T. F. Freemantle, Bt. M.P.
Charles Gibbes, Esq.

William Haigh, Esq.
Henry Harvey, Esq., F. R. S.
Sir John Kirkland
Matthew Moulton Rennie,Esq.
David Salomons, Esq.
John Stewart, Esq., U.P.
Patrick M. Stewart, Esq.

UNION BANK OF LONDON
The DIRECTORS of the UNION BANK of LON-
DON hereby give Notice, That the ANNUAL GENERAL
MEETING of the PROPRIETORS will be held at the Bank-
ing-house, No. 8, Moorgate-street, on :Vora)Ay, the 12th of
July, at Twelve o'clock, for the purpose of RECEIVING the
ANNUAL REPORT, and DECLARING a DIVIDEND;
and that the Books will be Closed for the Trarsfer of Shares
from the 21st instant till Thursday, the 22d July.
W. LAURIE, Secretary.
No. 8, Moorgate-street, June 16, 1841.
UNION BAN]
DIRE

OF LONDON.
!TORS.

7 Sir PETER LAURIE, Alderman, Governor.
ANDREW SPOTTISWOODE, Esq., Deputy-Governor.
George Webster, Esq. Archibald Cockburn, Esq.
John Barnes; Esq. James Farquhar, Esq.
J. W. Sutherland, Esc. Benjamin Boyd, Esq.
W. M. Nurse, Eaq. Peter Laurie, Esq.
Major-Gen. Robertson W. P. Craufurd, Esq.
Thomas Meux, Esq. John Connell, Esq.
PRINCIPAL OFFICE—NO. 8, Mcorgate-street, Lothbury.
William 'Wilson Scrimwour General Manager.
REGENT-STREET BRANCH OFFICE—ArgyII-place.
Henry T. Clark, Manager.
CHARING CROSS BRANc/I OFFICE—N•. 4, Pall Mall East.
Alexander 'Wight, Manager.
The Capital of the Bank is at present £3,000,000 in 60,000
Shares of £5O each, 42,270 of these Shares (on each of which
the sum of £lO has been raid, making the paid-up Capital
£422,700) are in the hands of 730 Proprietors, whose names
are published periodically, thus affording the most perfect secu-
rity to the Public. Interest is allowed on current accounts, at
the rate of £2 per cent., and on deposit accounts at the rate
of £2 10s. for sums under £l,OOO, and at a higher rate, ac-
cording to special agreement, for sums exceeding that amount.
W. W. SCRIMGEOUR, General Manager.
No. 8, Moorgate-street, June, 1841. e

SPIRIT of the PUBLIC JOURNALS.

FROM TIIE MORNIPO PAPERS OF THIS Dar.
CHRONICLE.—The Tunes has the audacity to talk of the
'• jobiling propensities" of the Whigs, and to refer to this
source the recent changes which have taken place among the
subordinate members of the Government. The charge carries
absurdity on its face. To "job," as tie Tories have taught
us only too well, means to provide for political adherents at the
public expense. fe the present instance neither of these indis-
pensable conditions is Complied with. No one is provided fur.
No additional expense is entailed upon the public. • - Perhaps
the Tinges will have the gsodness to explain how the relin-
quiQhment of one of the most lucrative practices ever enjoyed
at the bar for a Chancellorshi:i which carries with it no retiring
pension, is to be construed into an act of rapacious and sordid
grasping at public money. Or how the acceptance of offices
from which by next quarter Jay they will not derive one six-
pence of emolument, if the Tories have a majority, is to
be considered as a general scramble for booty, on the eve
of leaving office, oo the pal t of Sir George Grey.
Lord Seymour, and Messrs. Stanley, Shell, Fox
Manic, and Le Marchant. The Tories used to provide for
their partisans after a very diTerent fashion. The country is
at this moment paying pensions granted by the Duke of Wel-
lington's administration, when on the very ere of leaving office
in 1830, to pet-sons whose sole claim consisted in their intimate
connection with the Tory yarty. On the 15th November,
1830, Ministers were defeatedon Sir H. Parnell's motion, and
next day declared that they lad tendered their resignations,
arid only held office until their successors were appointed. On
that very day, November 10h, the following pensions were
granted out of the Civil List :
Amount of Pension
per Annum.
Greville, Algernon..... .....
250
Holmes, Thomas Kn0x...1... ...... 500
Drummond, Edward...
And on the 20th, or just two days before finally quitting:office,
the following additional pensicti
Rae, Dame Mary •• • £5OO
These shameless and nefariout jobs were perpetrated by the
Government of, the Duke of Wellington and Sir R. Peel, by
and for the behoof of the very men who now raise the cry of
wolf, and accuse the Whigs of abusing the possession of power
because they make changes which do not entail a single penny
of additional charge on the public, or put a single penny in the
way of permanent provision in the pocket of any one connected
with the libera.l party. The tther blanch of the accusation
—that these changes were made with a view to influencing
elections—is, if possibie, more palpably and ridiculously untrue.
Mr. Stanley exchanges an office which enjoys very extensive
patronage for one which enjoys none. '1 he object, the Times
tells us, is to enable him to swamp the constituency of the popu-
lous county of Cheshire by a deluge of clerkships. Mr. Sheil also
is,by some unexplained process, to save his election by resigning
the very office, the acceptance of which is to secure Mr. Fox
Maule, who, in his turn, being in jeopardy at Perth, hands
over to Lord Seymour a post which enables his Lordship to
bid defiance to opposition at Totnes. Such lies are like those
of Falstaff, "gross, monstrous, and improbable." The fact
is, as appears clearly from the result of the elections, that the
Government influence, which the Times talks so much about,
is in reality worth little or nothing. At Devonport, Plymouth,
Portsmouth, and Greenwich, Ministerial Members are, it is
true, returned ; but why ? Because those are large, indepen-
dent, and intelligent constituencies. Government influence may,
perhaps, carry a few votes, but nothing near enough to turn
the scale. In point of fact, Liberal Members were returned
for all those places in 1835, against Government influ-
ence, and would be so again. On the other hand, where
there are not large, independent, and intelligent constituencies,
Government influence is of no avail against the more power-
ful description of influence which can afford to pay, as at Har-
wich, 4001. for a vote. The result of the elections proves this
fact clearly enough, that wherever there is a large and incor-
ruptible constituency, the chances in favour of a Liberal Candi-
date are at least four to one. Wherever there is a respectable
constituency, the chances are still in favour of the Liberals.
Rut wherever there is a constituency notorious for corruption,
subject to family influence, or so small as to make the purchase
of individual votes a feasible speculation, the tables are turned,
and the odds are that the candidate of the Carlton Club carries
the day.
TIMES.—The season of the Irish elections is setting in
s'ormily. It is in Ireland that the great effort will be made.
It is there that the materials, as well as the instruments of agi-
tation, are found in the greatest abundance; and it is there
that the agents of violence and terror are calculating upon
impunity from a Whig administration. Heretofore the great
jobber in Irish representation, who undertook and managed
everything, from a snug and cheap return for Mr. Hume in
Kilkenny, to a rough-ridden and somewhat costly contest. for
Mr. Raphael in Carlow, had two kinds of mechanical power
to work with—money and intimidation ; and most diligently
did he ply them both. The former resource, the money power,
Was fur some time supplied pretty freely from the O'Connell
rent. That stream,.as long. as it was. kept tolerably full, as-
sisted most conveniently to turn the mill and grind the elec-
tions; hut its current beginning to run too low, the Govern-
ment and the priests perceived that the machinery would want
bodily strength to work it, and they are preparing for this
service accordingly. In the ratio in which money falls off
force must be supplied. Whatever of intimidation has been
heretofore practised, is now to be renewed, reinforced, and re-
doubled. The Government, therefore, rely on the priests for
activity, and the priests rely on the Government for protec-
tion. Does England know what interest it Was which
decided the Whigs to hold en through the struggle of a
general election, instead of resigning their offices, as in " the
spirit of the Constitution " they ought to have done? Does
England know who were the faction that bellowed for dis-
solution in the House of Commons, and who were the back-
stair deputies that pressed it upon the Cabinet? The O'Con-
nellite confederacy. They were aware that, for the
sinister purposes of their Irish electioneering, for the un-
interrupted action of their own ferocious influences, it
was indispensable that the Whigs should remain in office till
the Sheriffs of the Irish counties had taken the polls. When
Sir Robert Peel's Government dissolved the Parliament at the
commencement of 1835, Sir Henry Hardinge, the Chief Secre-
tary for Ireland, made such dispo.itions for preserving the
peace of that country in every one of its districts, that not a
single life was lost throughout all the elections. It would not
at all have suited the pious objects of the holy partisans who are
keeping their eyes upon every Roman Catholic freeholder, that
a similar security should have been provided now. They are
free traders ; they like " a Government that will let them
alone." What signify a few cases of accidental death at an
election or two ? These are only the evidences of " popular
spirit," which must not be repressed by the despotism of con-
stituted authorities.

ADVERTISER.—After all the boastings of the Tories, a
close calculation of the returns already made will prove them
to have as yet gained little or no advantage in the present
elections. By chance er design the nomination and days of
polling were fixed in those boroughs' where their strength pre-
dominated at an earlier period than in others differently
s
situated, and consequently in the beginning of the " battle of
advantageetiterdelusive.
vhic hitsu
a comparison of the losses and gains on each side, the Tories
as yet appear to have gained but two or three seats more than
the Reformers; but, notwithstanding this, the general returns
exhibit against them a clear majority of more than twenty.
altogether
This they expect, or at least pretend to expect, to over-
come in the counties ; however, we have little doubt that the
returns of their gains in the counties will show their calcula-
tions to be as fallacious as have been those of their gains in the
boroughs. But what do the Tories expect to do in Ireland and
Scotland ? There is the rub. These are items which the
Tories wish to exclude from their calculations, and discreetly
so, for in neither country has the faction any favourable result
to calculate upon. As to the English counties, the Tories
having already exerted all their strength therein, they have
obtained such an ascendancy in that portion of the representa-
tion as to leave themselves but little to gain, and their oppo-
nents but little to lose. In fact, by a judicious effort, the Li-
berals have almost as fair a prospect of gaining in the counties
as the Tories had of gaining in the boroughs ; for this reason,
the majority of the counties being hitherto represented by
Tories, just as the majority of the boroughs have been
by Liberals, it is here, as the great strong-hold of the
enemy, that the assault should be most. vigorously directed. It
may be freely admitted that it was owing to the plan of attack,
and not to the intrinsic strength of the assailants, that London
and Westminster were deprived of one..half of their Liberal
Members, and left in representative neutrality. But for the
loss inflicted upon these two important constituencies, the con-
test between the opposing parties would have been at the pre.
sent moment on terms approaching to the most perfect equality,
the Tories having no gain beyond the empty echo of their own
fallaciovs vauntings. Let the Reformers but be as alert and
active—we will not say as unscrupulous—in the counties as the
Tories have been in the boroughs, and even here it will be at
least an equal battle. But the Reformers appear apathetic,
while the Tories are putting all their energies into the utmost
activity.
POST.—The Ministerialists, while they admit a Conser-
vative gain, even upon the town elections of England, have
the effrontery to talk at the same time of Conservative " fail..
ure." Failure ! How have we failed ? When the Ministers
were beaten and reprimanded by majorities of the late House
of Commons, their reply was that they would go to the coun-
try, which they were confident would pronounce a more favour-
able judgment upon their policy and conduct than the late
House of Commons had done. They have gone to the coun-
try ; and the judgment of that part of the population which
is most favourable to them has been, that the last House of
Commons was not sufficiently hostile to them—that it was
not so Conservative as it ought to have been. Is that
Conservative failure ? The Ministers gave out that
they expected to succeed : they expected a return
of Members more favourable to them and their po-
licy', else why did they dissolve the Parliament ?
We see how that expectation has been answered. In
spite of all their Government influence, the returns are less
favourable to them. That there is Ministerial failure is, then,
apparent enough ; and yet the Ministerialists, in the face of
events, have the effrontery to say, with unblushing falsehood,
that the failure is Conservative They say this in the very
same breath that they admit the Conservatives to have gained!
Are we to conclude that the Ministerialists did not expect to
gain when they dissolved the Parliament and appealed to the
country ? Are we to conclude that they knew they would be
beaten, and that their real object was to embarrass the proxi-
mate Government by taking advantage of Government influ-
ence to secure seats which would be used in opposition? Are
we to conclude that they dissolved, not in the hope of obtaining a
more favourable judgment from the country, but in the ex-
pectation of putting a bar in the way of a dissolution
under the auspices
•of a Conservative Government, which they
knew was inevitable? Either we must thus conclude, and,
therefore, convict the present Ministers of the grossest false-
hood in their professions, and the grossest faction in their con.
duct ; or we must, on the other hand, conclude that they
counted upon success, and therefore that they have completely
failed. Either side of this alternative every man who exer-
cises his judgment at. all, must take. There is no escape ex-
cept in not thinking at all about the matter. And upon this
another alternative hangs : either we mug suppose the Minis-
ters to have spoken .falsely in the reasons which they assigned
for dissolving the Parliament, or we must suppose the Ministe-
rial organs to speak falsely in designating the result of the elec-
tions, so far as they have gone, as a failure of the Conservatives.
HERALD.—The elections are already so far decided that,
dismissing all anxiety as to the side onwhich victory will de-
clare itself, we may tut n our attention to the probable conse-
quences of it. What may be the numerical majority of the
Conservatives in the next Parliament it would be as premature
as useless to predict, but at any rate it will be sufficient to
secure the transference of the Government to their hands.
Indeed, the Ministerial press do not affect to deny this. All
that they attempt is, to console themselves for present defeat
by triumphs in prospectu, and they certainly do apply this flat-
tering unction to their souls to a very comfortable extent. The
morning organ of the Whigs has even discovered that the vic-
tory of the Conservatives is highly desirable as a necessary
preliminary to a re-action against them, and that it will be

far better for the Whigs in the end that, on the present occa-
sion, they should be the losers instead of the winners. " Un-
less a miracle," it says, " occurs to enable the Tories to revive
trade, &c., it is inevitable that a few months must suffice to
destroy the last vestige of their popularity, and bring about an
overwhelming re-action against a Tory Government. It is,
perhaps, better for the cause of free trade in the long run that
tip monopolists should have, in the first instance, such a majo-
rity as compels them to form a Government." The Chro-
nicle may deem it a miracle for the Conservatives to re-
vive tho prosperity of the country after the manner in which
it has been quacked into a decline by the Whigs, and
upon this rest its hopes of the quacks being again called
in to finish their work. But if the chronicle is content
with the bird in the bush, we are quite satisfied with
the one in the hand. The hand, however, which turns the
evening organ of the Whigs does not play exaetly the same tune
as the performer for the morning. It grounds its hopes of the
Whigs returning to office, not upon the incompetency of the
Conservatives to achieve the miracle of reviving trade. &c.,
but upon the Whigs being able to thwart them in cluing so.
The majority of the Conservatives, it says, " has 'seen alread
reduced within limits which will render it powerless agains. the
rising spirits of the people, and the regained confidence of the
Liberals in the existing Government. a a a s
Another dissolution will, in all probability, follow at no distant
period, the nearly-balanced state of parties which will still exist
in the new Piudiament, and then —." We have no appre-
hensions of what would happen then; such a repetition of the
present crisis would cause us no uneasiness for its result, but
we are perfectly prepared for the steps which the Whigs may
take to bring it about. We do not suppose that Lord John
Russell, as the leader of the Opposition, will pursue th.s same
manly and unprejudiced course as Sir Robert Peel. Both his
position and personal character differ widely from that of the
Right lion. Baronet. He cannot command that unanimous
deference from his heterogeneous party which would be able to
restrain them from factious opposition; neither do we suspect
him of the political integrity which would scorn to thwart the
measures of an opponent without reference to their merits.
His conduct in this respect, when Sir Robert Peel was called
to the Government in 1835, cannot have been forgotten. It
stamped him as the unscrupulous partisan who will decline no
advantage by which the grand objects of his party—the recovery
of place and power—can be promoted; and the bitterness of
defeat is not likely to improve the impartiality of his judgment.
or the candour of his disposition.

MONEY MARKET anciCITY NEW'S.

FROM THE MORNING PAPERS OF THIS DAY.
TIMES.--In the course of the day it was stated in ',he city,
that the highly i espectable firm of Messrs. Ladbroke and Co.
had determined to wind up their affairs, not from any embar-
rassment, but merely from a desire of retiring from business.
This statement was confirmed; after the close of business, by
the following circular, which was distributed among a few ot the
more immediate friends of the firm, and will be in general cir-
culation on Monday :
" Bank-buildings, London, July 3, 1841.
" Sir,--Mr. Felix Ladbroke, of our firm, being desirous of
retiring from business, we have come to the determination of
settling all our engagements: With this view we are prepared
forthwith to pay your balance; or if it should suit your conve-
nience, to transfer it to our friends, Messrs. Glyn and Co., who
will conduct your account on, the same footing as hereto-
fore. Your concurrence in the latter arrangement will add to
the many obligations we have hitherto received at your hands.
" Waiting your orders, we are," &c.
The other country banks, which besides Messrs. Dain try,
of Manchester, used to draw upon Messrs. Whitmore, have re-
moved their agencies as follows :—Messrs. J. Fordham and
Co., of Royston, to Messrs. Barclay and Ca. ; Messrs. Johnson
and Co., of Romford, to Messrs. ;Glyn and Co. ; and Mr.
Hart, of Uttoxter, to Messrs. Williams and Co. It was at
first supposed in the city that the bank at Royston was the
only one besides Daintry's that had any connexion with
Whit more's.

POST.—The official lists for the foreign house contain no
more than four.quot.ations for the entire day, a further and most
conclusive exemplification of the impolicy of giving counte-
nance, the Committee have allowed themselves to do, to
investments of an unsound and disreputable description. At
no period within our recollection was the business of this de-
partment of the Stock Exchange at so low an ebb as it is at
the present time, and this without a prospect—we had almost
said without a hope or chance—of revival. Mexican Bonds
were quoted 27 to i; Active Spanish, with the overdue in-
terest, 213 to ; Five, per Cent. Portuguese, 311 to hex. half
dividend. -

HERALD.—Reports were current in the City that an old
and respectable banking firm had intimated its determination
to wind up its affairs and discontinue business. The resolution
referred to it appears is not founded upon any deficiency in the
necessary means for carrying on money dealing as before,
but, as it would rather seem, from the fact of the conside-
rable encroachment which the Joint-Stock Banks had made
upon the business of some of the private banks,
where the capitals, although quite adequate to the
extent of current transactions now or heretofore em-
barked ,in, were not of that overwhelming magnitude, as
in the case of various leading banks, as to bid defiance
to Joint-Stock Bank competition, so far as that might
presume for preference, on the ground alone of undoubted se-
curity to the public from the agglomeration of numerous pro-
prietaries and gigantic capitals. Assuming this supposed falling
off in the business of some of the private banks of unquestionable
,repute otherwise, to be correct, people in the city are natu-
rally reminded of the seasonable project arranged some time
ago by Mr. Ward, a former director of the Bank of England,
but of which nothing more has been heard of late. It is ob-
served that the plan in question would have been an excellent
defensive combination against any invasion or curtailment of
the profits of the private banks by the joint stock associations,
or rather that the union of private bankers in one grand
association of proprietors and capitals, which was the
leading principle of Mr. Ward's project, would have placed
them jointly beyond the reach of other joint-stock bank com-
petition, and therefore have tended to Fwell profits and multiply
business, instead of, as now, in their isolated position, having
singly to maintain a disproportionate contest for the retention
of customary traffic, the increase of which may hardly be hoped
for perhaps, under the circumstances, against mighty capitalist
private and joint-stock banks. The realisation of such a scheme
would appear to be yet both practicable and advantageous,
although much longer delayed die opportunity would be for
ever lost. There are several old and respectable banking
names, both in the City and West-end, whose junc-
tion and fusion into one grand banking proprietary
firm, with a principal establishment each east and west, and the
directory composed from among themselves, and comprising
men, therefore, of the greatest practical experience, would carry
with it an unsurpassable, perhaps unapproachable, degree of
public confidence, and therefore a suitable participation in the
great total of banking business and profits. From the tenor of
City remarks and reasoning on the subject, of which the fore-
going enumeration of leading points may be regarded as a brief
but faithful analysis, it i 3 plata the public mind is prepared and
favourable to such an undertaking, by which many respectable
banking names, long and hereditarily known and esteemed,
would be desirably perpetuated.