The Sun.
London, England, 1848-06-15 00:00:00

THE BANKE 1?S.

1 The first article, " Proposed Limited Liability of
Joint-stock Bank Shareholders," advocates the adop-
tion of the " commandite" system to joint-stock
banks, and contains suggestions for framing a Bill to
permit the establishment of joint-stock banks with
restricted liabilities. If such a measure was intro-
luced, which might be the case, without danger to
the public, many persons would be induced to invest
capital in such concerns with advantage to themselves
and to the community in general, who are at present
deterred by the possibility of their entire fortunes
being swept away by some unforseen reverse! ; Mr.
Hancock, Professor of Political Economy in the
University of Dublin, contributes a paper " On the
effects of the Usury Laws on the Funding System,"
in which he shows that a debt of about 200,000,000/.,
and an annual burden of 6,000,0001., has arisen from
the attempt to control, by legislative enactments,
what should be wholly free and unrestricted. No-
thing could illustrate the absurdity of these laws more
clearly than the fact that the nation was constantly
obliged to pay more than the legal rate of interest for the
money it borrowed. The Learned Professor suggests
that the Government should take advantage of a rise
in the rate of interest to reduce the terms of redemp-
tion of the National Debt, by a slight increase in the
annual charge, which might again be considerably
reduced when interest became low. The article on
Bills of Exchange and Bankers' Notes, considered
as the means of extending and strengthening Credit,"
is well worthy of perusal, showing the great advan-
tages derived from a paper currency. Mr. Blacker,
in a letter to the editor, most ably vindicates his
theory of the currency, and satisfactorily refutes the
objections that had been taken to his pamphlet,
" The Evils inseparable from a Mixed Currency."
Mr. Blacker is the strenuous advocate of a national
inconvertible paper circulation, under the manage-
ment of Parliamentary commissioners, the vast ad-
vantage of which he points out in the most conclusive
manner. There are several other papers of consider-
able interest, amongst which we may mention " The
present.. state of Bankruptcy of some of the Irish
Savings Banks," and " The Fluctuations in Railway
Property hi 1847."

SHARPE'S MODERN MAPS. Path XXIIL

and XXI V.
Of the coloured maps already published in this
series the present instalments are about the very best,
as far as the neatness of their execution is concerned.

INSTITUTION FOR TUE ADULT DEAF AND DUMB,
26, RED LION-SQULRE, BLOOMSBURY.—On Tuesday a
meeting of the committee of management of this insti-
tution was held at the board-room, in Red Lion-square,
Bloomsbury. It was stated that a bequest of 5001. had
been made to the charity by the late T. Fuller Beard,
Esq., and that such an addition to the funds would un-
doubtedly stimulate its friends to still further exertions
in the benevolent work they had undertaken. The
report states that there are twenty-four young men
learning the trades of tailoring and shoemaking, and
seven females learning dressmaking, and other domestic
occupations, and in each instance the pupils were pro-
gressing as satisfactorily as could be desired, under the
superintendence of the " hearing-masters" and teachers.
It was mentioned that two of the inmates of the asylum
had been fully examined by the rector of the parish,
and were confirmed in the early part of last month, by
the Bishop of London.
EXCISE OFFICE, JUNE, 1848. The Commis-
sioners of Excise, in order to prevent frauds on the re-
venue in the Hackney Carriage Department, have re-
solved that the duty of 10s. per week on hackney car-
riages shall in future be paid one month in advance, and
all persons holding licences and intending to give them
up, must give notice of such intention before the expira•
don of the time for which the duty has been paid in ad-
vance ; and in default of returning the license and plate
within three days after such expiration, they will be
compelled to pay the duty for the month and a penalty
of 101.

TESTIMONIAL TO THE BISHOP OF MANCHESTER.
—On Tuesday the pupils of King Edward's School at
Birmingham presented to their late head master, the
Rev. Dr. Lee, a testimonial of their regard and esteem
for him as a master, as a scholar, and a clergyman.
The present consists of a silver vase, of Roman charac-
ter, elaborately chased, designed by Mr. Clark, the head
master of the Society of Arts and Government School of
Design in Birmingham. It is placed on a triangular pe-
destal, which on each side is relieved by rich wreaths
of frosted silver, and is supported by a winged lion, a
griffin, and a sphinx in frost work. On each side of the
vase are groups emblematical of truth directing the
sciences, and genius guiding the arts. Its extreme
height is 24 inches—weight 230 oz. On the pedestal is
an appropriate inscription.