The Sun.
London, England, 1848-08-15 00:00:00

TILE MIRROR

Still keeps up its reputation. Among the more
noticeable papers of the present number is one entitled
" Meetings and Greetings," by E. I. Blanchard.

THE NEW GA➢IE-LAWS.—(FaOII A COREESPON-
DENT.)—From the bost information which at present can
be gained respecting Mr. Colvile's game law, it will
prove " a delusion, a mockery, and a snare ;" a sort of
clap-trap legislation. Away with the excessive game
preserving, game certificates, and the entiro game-laws
(reserving but the 40s. trespass clause), and then, while
there will be more food for mankind, fewer poachers
will be found. To this it must come, good game mania
gentleman, resist and twist as yeu may. General feel-
ing is against both your prosorving system and your
laws founded upon it.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO 7 HREE.
The Cotton Market at Liverpool yesterday was
rather firmer. Sales 4,000 to 5,000 bales, at about pre-
vious rates. In railway Shares there was a slight advance
as regards North-Western, but no variation in other lines.
Accounts from Belgium state that M. Emile Grisar
was about to proceed to Valparaiso, having a commer-
cial house there, but that he was also charged with a
mission to Bolivia, which republic had previously made
offers to Belgium for a commercial treaty. The Soho
steamer, from Antwerp, brings a large quantity of
wheat and green fruit. The mint at Brussels was still
very aetive.

In the accounts from the Continent there is nothing
of prominent interest, but the state of the Paris money
market is thought more favourably of, and there is a
hope that the apparent determination of the Republican
Government to preserve good faith with its creditors
will do more to consolidate its power than any other
course. Even political tranquillity is not more essential
than financial punctuality.
The state of affairs in the Iron districts is thus de-
scribed by a writer in a Birmingham paper :
" Upon the whole we are happy to perceive that any
movement in the trade has been rather progressive than
retrograde. Orders continue plentiful for bars, hoops,
and sheets, and when of a nature to require any long
time in execution, are not very readily undertaken—a
general impression prevailing that the present low
prices will not continue; and although the workmen em-
ployed in making nails and chains in this district have
been for some time out of work, resisting an attempt on
the part of their masters to reduce their wages, little if
any falling off in the demand for rods and small rounds
has been experienced, while in some instances it
has been so brisk as to induce parties who
do not consider themselves bound by the general
regulations of the trade, to charge an extra 10s. per
ton. A good business in large castings is. reviving
again, and several contracts of thii description have
crept into the market, 'and will absorb a considerable
quantity of metal, and thus afford additional impulse.
Good pig iron is also in much request; indeed furnace
owners are unwilling to sell even at the improved quota-
tions that have been offered within the last few days.
The stocks on hand appear to be inadequate to supply
the demand, and this, with the reduced quantity now
made, will materially assist in helping up the prices .of
iron generally. Confidence seems to be gradually re-
turning, and should a recurrence of favourable weather
enable us to look forward to an abundant supply
of food, we think that a steady and continued improve-
ment may be calculated ;upon ; the workmen have
very generally accepted the reduced wages offered by
their masters; those who did not at once continue their
employment having resumed it after a very short hesi-
tation. A few paddlers are still holding off at one or
two works, but as all the other classes have complied,
and in so large a majority of instances, the paddlers
also, further resistance on the part of individuals will
scarcely be persisted in, and the reduction may be con-
sidered fully established. By this step wages in the
different processes of manufacturing iron have been
restored to the lowest rates that have obtained for
some years in Staffordshire, and the relative posi-
tion between them and the price of iron has been satis-
factorily adjusted."
The Funds have improved again to-day, but the news
just received that Milan has been fired by the inhabi-
tants has given a check to the market. Consols have
been 861 for Transfer, and 861 to 86i for Account.
They are now 861 to 861. The New Three-and-a-
Quarter per Cents. have realised 87 to 87i, and the
Three per Cents. 86i to 861. Bank Stock is at 199,
and India Stock at 240. Exchequer-bills of March are
255. to 295. premium.
The Foreign Securities are quiet. Spanish Three
per Cents. are 22 ; Portuguese Four per Cents. have
realised 64 to 65* ; Brazil Stock is 70i sto 72 ; Mexican
Bonds are 16i to 17 ; Russian Stock has been at par,
and Dutch Two-and-a-Half per Cents. have been quoted
44 to
Railway Shares have improved, and with more appa-
rent inclination to buy.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.) ,
_ _

Bank Stock - 199
3 per Cent. Reduced Annuities... ...... B6A 3/4
8 per Cent. Consols Ann., 66%14 MI
New 314 per Cent. Antis. 87143. 87 87%
Long Annuities, Exp. Jan. sth, 1860
Do. 30 Years, Expire Oct. 10,1859... 81
Do. 30 Years, Expire Jan. 5, 1860 - 83
• ,
India Stock ' '' , 240
' •
,
India Bonds under 1,0001‘..4.4.A.!,;:...:..::.? tiiii .'
Consols for Account ... • i " 86%%,5,i ,
Exchequer. Bills. - ; 24d. .. . 2d.
'lamb. . June.
1,000/. 1,26 29 25 p ‘ . 33 35 32 p
5001 — t „ ,34 33p

,: ~;..

Small

33 36 p

PRICE OF FOREIGN FUNDS AT '0 E CLOCK,
Brazilian Bonds, 5 per Cent
Ditto Small
Mexican Donis, 1846, 5 per Cent. 1634 14 17
Portuguese Bends, 5 per Cent 65% 64
'Ditto, 3 per Cents • 16%.
Russian Bonds, 1822, 5 per Cent— 100
Spanish Bonds, 3 per CenL
Dividends on the above payable in London.
Dutch 2% per Cent.,l2 Guild 44 4414
BITSINESS DONE IN RAILWAY 8 lA-IMS AT ONE o'CLOCK

RAILWAVI. PAID. PIA Susie.
:Aberdeen
Anibm, Notting., Boston, &c 33,
Ayrshire and Galloway
Belfast and County Down .. 16 .. ..
Birmingham & Oxford Juno... 20
Birmingham, W 01.,& Dudley 10 ... .
Birnsing., !Vol., & Stour Val. 131.145....
Birkenhead, Lancashire, and
Cheshire Junction.., lO
Boston, Stamt., & Birming... 5
Bristol and Exeter
Do., Thirds
Buckinghamshire.. l4l. 44 — ...... to
Caledonian
_ .

Ditto, Half Shares
Ditto, New 101. Preference 2% 2%..... to 3
Ditto, Clydesdale Junction 50
Chester and H01yhead......... 47%..... 27',4
Ditto, Preference
Clarence.
Do., let Class, 6 per Cent lO
Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10
Direct London & Portsmouth 5% — to
Dublin and Belfast Junction.. 30
Dundalk and Enniskillen ... 20
East Anglia, 251. L. & E.,
sad L. & D .. 25 ......
Ditto, 18L, E. az II lB ......
Ditto, 31. 10s., E. & H... 3% — to
r:astern Counties
Do. New Guarant. 6 per Ct. 5
Do. Perpet., 5 per ct. No. 1,6/. 13e. 4d par ....•• to
Do., do N 0.2,61. 13s. 4d... ...
.. to _
Do., Northern & Eastern... 50
Do., 5 per cent.
Do., Quarter .... . .... 12%... .. ...... to
Do., New
Eastern Union, Class A (late
E. U. Shares) ... .• 25
Ditto, ditto, Class A, ditto 1 ,
Ditto, do, Class B (I. & B) 20
Ditto, do, Class C, ditto... 17% — to
Ditto Scrip (gua. 6 per ct.) 10
Ditto, ditto ........ ........ 20 ......
Ditto (C. & E.), 5 per ct. 2%......
East Lancashire
Ditto, New .. ........... .... • 19
Do., New Quarters
Do., 6 per Cent. Preference
Quarter Shares
East Lincolnshire 2B . ... 24% to
Edinburgh and Glasgow
Ditto, Half Shares
Ditto, Quarter Shares 12%
Edinburgh and Northern ... 25 ......
Ditto, New ..... . ....... ...... 61,4 — ...... to
Ditto, New port l3
Ditto, ditto, New .. 34 — ...... to
Exeter, Yeovil, & Dorchester 255 ,fo —
Ditto, New
Glasg., Dumfries, & Carlisle..Bl. 65.8 d... to
Glasgow, Kilmarnock, & Ayr 50 ...... to
Ditto, New
Do. Preference Consolidated 15 ..... ” ... to
Great Northern l 5
Do. London & York Eaten. 2% — ...... to
Gt. South. & West. (Ireland) 42% —
Great North of England 100
Ditto, New 40/.
Ditto, New 301 ... 30 .. .. 69
Ditto, New 15/...... ... ...... 14 ...... ,
Great Western
Ditto, Half Shares 5O -
Ditto, Quarter Shares
Ditto, Fifths 2O
Do. New 171. l3 ..... 10%% to
Huddersfield and Manchester 28 .. -.
Ditto, Thirds
Hull and Selby 5O
Ditto, Half Shares . - ...... 25
Ditto, Quarter Shares 12%...... ...... to
Lancaster and Carlisle....
Do.,Thirds lO
Lancashire and Yorkshire ... 93 ..... to
Ditto, ditto
Ditto Half Shares ...... . - 43
•to
Ditto Quarters ...... 17% ..... ... -to
. to

. _
Ditto fifths
Ditto Sixteenths .....••• ••• 614......
Ditto Thirds (Reg.)
Do., New Guar. 6 per cent 2% to
Do. Liverpool and Bury... 43
Do. ( Iludders. and Shoff.) 3S
Do., Wakefield, Pontefract,
and Goole
Do., West Riding Union... 6 .... . 1
Do., Preston and Wyre ... 25
Do., do., Half Shares (A) 9% _ to
Leeds and Bradford 6O ••• •••,.. to
Leeds, Dewsbury, & Manches. 50
to ....
Do., Half Shares
Ditto, Blue (:trip)
.....
Leeds and Thirsk ......... ...... 50
•••• • to
Ditto, New
Do., do., Prefer., 6 per Cent. 31,4.....
•••••• to ......
Liverpool. Crosby, and Sout h -
port. 3% — ...... to
Liverpool, Manchester, and
Newcastle Junction 2l/2 __
London & Blackwell ......131.65. 8d —
...... to
.... To
30 ....o
Do. Extension
Lond., Bright., & South Coast 50 ....... . . to
Do. Consolidated Eighths... 40 ••••• • ...... A to 30
Do. Guaranteed 5 per Ceut. 9
..... .. to
.
De. Pref. Coley. 5 per Cult. 50 4 t 4, . 1441" 6
,V.... 44 V, 44•441

*)2 50 ..... ..... -
it. 3 . ..... -- ...
12/. 150. 4d...
.18/ 17a 2d...
-.100 119% 118% to 120
.) 22
M
~..
20
to ••••••
Do. 10/.... . and B. (A.) 9 •-• • ...... to
Do. 101. .. M. and B. (B.) 9
Do. 10/. ... M. and B. (C.) 1
London and S. Western...—. 50
Ditto, New 501........ »..... 42% — ...... to --
Ditto, New 404.... ..... .. -34 - .....• to --
Do. Tenths (Consolidated) 50
Do. Tenths (Consolidated) 40
Ditto, Thirds ... - ..... .11/. 13s. 4d
Do., New Scrip,lB4B, Frei'
7 per Ct. on Deposit and
5 par Ct. on Calls --U. 13s. 4d —
Ltndon, Salisbury, & Yeovil 11,E —
Londonderry and Coleraine... 27% — ...... to
Londonderry and Enniskillen 25
Lon-estoft (guar. 4 per cent.) 20 -
Ditto (guar. 6 per cent. ... 3 . .....
slanch. Buxton, & Matlock 4
Manchr, Sheffield, and Linc.loo . — to
Ditto 4 Shares (No. 1) ... 18 .......
Ditto, ditto (No. 2) 25
"••••
Ditto, % Shares (No. 3)... 71,4 — ...... to --
Do., New 10/. Preference.. 10 ...
Ditto
Grimsby ...
Ditto, ditto. ..... ... -
Ditto, ditto . ....
Ditto Sheffield and Linc. 121,i•••••• ...... to
Ditto,--
Grimsby Dock -
AlanchesterandSouthampton 21,‘ ...... ..... to
Ilidland lOO ... ..... to 913
Ditto, Consol. Preference 100
to Ditto,--
301. 5hare5........... 20 ...... 12S -
Midland, liirm., and Derby...loo .. — -
Nridland, Consol. Bristol and
Birmingham, 6 per cent.... 100 ll7 ...... to -..
Midland, Bristol and Glouc. 38 ... — ...... to
Ditto ditto 14/. 185...
Midland, Leices. and Swan-

nington (8 per ct.gua.)....100 .... • ...... to
Miclid. Great Western (Irish) 421,s —
Middleabro an& Redcar. 6

per cent. guar.
Newcastle and Carlisle lOO ......
Ditto Quarter Shares
N ewmarket
Ditto Extension gcrip... 21. 12s. —
Newport Abergy., and lieref. 6 - ......• to
Newry and Ennikillea ...... 7 -
N e wry, Warrenpoint, and
Rostrevor ... ........ ......... 20 , — ... .. to --
Norfolk
Ditto New 201.
to
Ditto Extension b per et... 20
Do. Guaranteed 514 per ct. 45 -
Do. do. Waveney Valley... 2 ...... „• •• .... tr,
-
Northern Counties Union .... 4 - to
North British - 25 .. ... • .... to
Ditto Half Shares. .....
Do. Quarters: 6!,,f 4% ...... to
to
Ditto, Extension % -
Ditto Thirds ..- ........ -.... 41,4..- — ....... to
North and South-Western... 2 ..
North Staffordshire... .. ...... 121,4..., 9
North Wales 31,4 .....• - • •••• to ••••••
North Western
8:% —...- to
Oxford, Worcester, and Wel-

verhampton .... ........... .. 45 -
Reading, Guildfd., & Reigate 71,x ...... 6N ,to
Royston and Hitchin
Scottish Central -
Scottish Midland .... ....... .... 25 »•••.
Ditto, New...
...... to
Sheffield, Rotherham, and
Goole
714 — ..•... to ---.
Do. do. (South Div.) 4 -
Shrewsbury and Birmingiam Si,
Ditto, ditto, Class B. 5
Shrewsbury and Chester
(Nor. W. Min.)
Ditto Halves. Ditto 8 ... .. —. to
Ditto, Oswestry l6 .....• ... ...... to
Ditto ;New) 1
Ditto 8 per Cent. Pref....... 10
Shropshire Union ............... 4
... •
...... to
South Devon
.....• .. ...... to
Ditto, Preference ...... ..
...
South Staffordshire...
...... —....— .
.. .. to ... to
-.
South Eastern -
Ditto, New, No. 1
to Ditto, New, No. 2 22 -
Ditto, New, No. 3 25
Ditto New,No. 4. • - 8.34 —
South Wales
and Goole 4
Swans. and Loughor and Ca-
••
... to
meron's Stm. Coal ..... .... . 6
to -..
Thames Haven Dock and
Railway 1714 -
...... - -
Caw Vale Extension. - •••••• to --
Vale of Neath
Waterford and Kilkenny 1514 ......
,
\Vaterford and Limerick... .. 45 ~... _
Waterford, Wexford,Wicklw,
and Dublin
Wear Valley 6 per Cent.
Guaranteed ...... ..... ..... . 4234 —
to --
Do. do. do. ......... 25 -
Do. do. do. ...... .. 7N... ..
West Cornwall
Afhitehavin and Furness l3 ..... ..... to -••
Witiesor, Staines, and South

Western... .. •..... 916 •— .... to
Wilts,Somerset,&Woymouth 35
York, Newcastle, and Berwick 25
Do. Original New & Ber'ck....
i)o. Exton. No. I(Y. & N.) 15 ...,• ••
...... to
D o. do. No. 2, New & B. 10
...
1)o.
G. N. E. Fur. or Prof. Pref 8
Vork and North:Midland .. 50
Ditto, Preference
Ditto East and West Riding
Extension ... .25
FOREIGN RAILWAYS.
Boulogne and Amiens 2O ....- ...... to ...-
Central of France ( Orleans
and Vierzon) -
Ceylon .... ss.
Demerara.
to
Dendre Valley
Direct Bombay and Madras 58.
.... .
--.
Dutch Rhenish
8 -•••••-- ... t 0 ••••
East Indian .
__
...
to
Great Indian Peninsular...,, %......:
Italian and Austrian
Jamaica S. Midland Junction 1
Louvain ala Sambre ...... .. 71/.4 — ...•.. to
Luxembourg
to
Lyons and Avignon (Con-
stituted)
Madrid and Valentin
Namur and Liege... ..... . ..... 2 .0 • 414 to
Northern of France ...... 10 ..... 51/i ...... Ito
Orleans and Bordeaux ... .. 6 ...... to
P ....• aris and Lyons
.. 11
Paris and Orleans o
20 ...... -- •••..• to
Paris and Rouen .........
Paris & Strasbourg ...... ..... 8 ..- - ...... to -.•
Rouen and Havre 2O ...... -
to --
Sambre and Meuse
Tours & Nantes ... .. ...... 9 ..... ...... to —.
Tournay, Jurbise, Landen,
and liasselt
.. •-•• .- 20 - • ... ...... to --
West Flanders B% — ......
JOINT STOCK BANKS.
Australasia
British North American -
Colonial .... .. .. ..
25 •... • • •• to
Commercial of London ....... 20
...... 19% x.d. to
London Joint Stock ~... ..... 10
London and Westminster.., 20 -
National Provincial of Englci. 85
Ditto, New
National of Ireland - to
Provincial of Ireland
Ditto, New lO
Union of Australia 25
Ditto, New... 2% — to
Union of London ...... ........ 10

Union of Madrid

MIN EB.

Anglo Mexican lOO —
to --.
Asturian Mining Company... 12 ..„.
Australian
Blacnarvon Iron aod Coal ... 40
Bolanos Scrip -
British Iron
... .

Brazilian Imperial to
Ditto St. John Del Rey ... 15 .....
Galvanized Iron -
Ditto, New
Real del Monte. Unregistered .
Do. Black Debentures —
United Mexican

LLOYD'S SHIPPING—(THIS DAY.)
LONDON, AuG. 15.—Wind N.N.W., light breeze, and
dull cloudy weather.
PORTSMOUTH, AUG. 14.—The John, Blackman, from
Stockholm to Now York, put in here to-day very leaky,
and will be inspected.
SWANSEA, Au°. 14,—The Undine, M'Kea, from
Whitehaven to Cardiff, struck on the tail of the Nall
Sands this morning, when she made so much water that
she was obliged to make for this place, but sunk imme-
diately she came inside.
LIVERPOOL, Auc. 14.—Wind S.E.-13th, Arrd.
Sailor Prince, ANiechnie, Now Orleans. Sld. Andrew
Foster, Howes, New York. 14th, Mary Hannah, Yallop,
Africa; Gu, Williams, Colombo; Fame, Murray, Rio
Janeiro; Commissioner Linn, Lambert, New York;
Albania, Schander, (ditto; Waldron, Moore, Boston•
—Acrd. Triumph, Halifax.
ABERYSTWITH, AUG.
.b:Zrkul..
SWANSEA, Auc.. 1.4.—Wind
Meichmon, Prince Edward's Island.
CARDIFF, AUG 11 —Sld Elatadh'
12.
B. C. Bailey, Ditto; Ralph, Thompson, S'
TORQUAY, AUG. 13.—Sead Singapore.
ower,
repairing. Newfoundland, after

DRIDPORT, AUG. 13.—Arrd. Rannah, Quebec.
OFF SEAFORD,AUG.I3.—Katherine Jackson, Stafford,
Baltimore for Rotterdam .
YARMOUTH, AUG. 13.—Tho Elor, Attwood, from
Bremen to Liverpool, put into this harbour to-day with
loss of sails and leaky, and must discharge to repair.
DEAL, Auc. 14 —Wind N.E., strong to S.W. mod.)—
Arrd. 7. Prince Edward, Quebec. 8. Elizabeth Antonio,
Kenstra (for Batavia) Amsterdam.' 11. Eliza Bell, St.
Domingo for Antwerp; Baring: Brothers, Matanzas for
Cronstadt. 13. Carl Johan, Bahia for Uddewalla.
14. Ada, Deacon, New York for Hambnrgh.

ST. IV F.S.—TIIEPISHERY.—The boats on the
mackerel fishery, took on Tuesday night from 100 to
1,000 per boat, which they sold at Bs. per hundred of six
score. Several of the boats have arrived from the Irish
coast, where they went to fish for herrings; some of
them have not met the expenditure on the outfit.' There
have been accounts also from those boats that have gone
on the north-east coast of England to fish for herrings,
where they are, as reports go, doing very well.— Cora-
-1 wall Gazette. _

A gooseberry, which Measured five inches and a
half round, and weighed 29 dwts. 11 grs., named Caths.
rina, was pulled last week, in the gard9n gr, Deesoit
Gosforth,—Aetvcastie Journal.

THE CURRENCY.
We have already adverted to the strong opinion ex-
pressed by the Committee of the House of Lords on the
affitirs of the currency in favour of the " convertibi-
lity" of bank-notes. The Committee—if its collective
opinion be rightly expressed in the report—have no
doubt at all that, at all times, and under all circum-
stances, Bank of England notes should be exchange-
able for a fixed amount of gold, and that the
law should be so framed as to support this principle.
We can never mention this principle—no matter how
high the authority may be which supports !t—with-
out, on our part, expressing
.our utter disbelief in its
soundness. Our conviction as, that the monetary and
mercantile circumstances and transactions of this
country must either be contracted within a very
narrow limit, or must be subject to most disastrous
fluctuations and vicissitudes, so long as we attempt to go
on with a bank-note currency, convertible at all times and
under all circumstances, into a fixed amount of gold.
Our present purpose is not, however, to carry on
that controversy, but to impress upon the minds of
our readers that, be the policy of convertibility good
or bad, the danger to which the country has for many
years been subject, in consequence of the existing
monetary laws, has been greatly aggravated by the
law of 1844. To the danger which always existed
from promises to pay in gold far beyond the amount
held by those who issued those promises—to the
danger which always existed from the currency of the
coury. being liable to be exported as merchandise,
is added the very great danger of rendering the bank-
ing department of the Bank of England, at critical
and difficult times, unable to meet its engagements.
" If," say the Lords, " if the Committee considered that
the Act of 1844, which they desire to see amended, so
far as its restrictive clauses are concerned, was
essential to the practical convertibility of the bank
note, they would hesitate in recommending any
change." But, say they, in addition, "it should
never be forgotten that the liability of the Bank
consists in its deposits as well as in its pro-
missory notes. The legal obligation to discharge both
is the same; the failure of either would be equally fatal.
The protection given by the Act of 184,1 is mainly given
to the bank-notes, and in some degree at the risk of the
deposits. This appears undeniable on comparing the reserve
in the third week of October with the amount of private
deposits. Had any unfortunate circumstance interfered
with the power of meeting the latter engagements, or
had not the Treasury letter (of the 25th October)
been written, there seems little doubt of the
fatal consequences which must have ensued. had
it been impossible to pay the deposits, a dis-
credit of the bank-note must have been the con-
sequence. Nor can it be rationally questioned but
that a misfortune might have exposed to risk the con-
vertibility of the bank-notes." Thus, then, we find the
Committee of the Lords, who have examined evidence,
and who have judged after the event, come to just the
same conclusion which we and some others came to when
reasoning upon the probable tendency of the law, before
the Treasury letter was issued. We then pointed out the
probability that, owing to the pressure of the law of
11144, the Bank of England might break at one end
(namely, the Banking Department) while at the
other end (the Issue Department) it was loaded with
millions in gold, for which, at the time, there was no
particular demand. What the public wanted was, not
gold for their bank-notes, but bank-notes for their
bills, bonds, and all the sundry inventions whereby
the great credit system is carried on. A party in this
country, of which Sir R. Peel is the chief, have a very
great interest in supporting the high exchangeable value
of money. That party had so great an interest in limit-
ing the quantity of money, and making paper money con-
vertible into a fixed amount of gold, that, in procuring such
arrangements of the Legislature as seem most favourable to
these ends, all other interests are either overlooked or
deliberately abandoned. Thus it happened that the
men, by whose influence the law of 1844 was made,
gave protection to the convertibility of bank notes at
the risk of all the individuals, all the companies, and
all the institutions of this country who have deposits
in the Bank of England. The Lords' Committee de-
clare, as wo have seen, that if the law of 1844 had
not been broken through, and the violation of it
authorised by the Government in the Treasury letter
of the 25th of October, 1847, there seems little doubt
but that the Bank of England would have had to
declare itself unable to pay its deposits. And
yet that law continues unrepealed, unamended,
and, were the circumstances of October, 11147, to recur
in October, 1448, the Government would again have to
authorise a violation of the law in order to save the
banking department of the Bank of England from in-
solvency, and the country from all the discredit and the
ruin which such en event would inevitably occasion.
What, then, is the real state of the case as laid
before the public by the House of Lords ? It is this,
that upon occasions of monetary pressure, such as hap-
pened last autumn, either the law must give way or the
Bank must give way. If the low does not break,
the Bank must break. If the law be not violated
by the. Government, the Bank must violate its en-
gagements with the public. This is the view-which'
the Committee of the Lords give us of the state of things".
brought about by the monetary policy of Sir R.' Peel.
This is the state of things which the Cutantlittee of •the
House of Commons would have condemneckes well as the
Committee of the House of Lords, but that Sir R. Peel and
his colleagues presumed to act as judges upon the trial of
the working of their own measure. The Commons
would have joined with the Lords in the condemnation
of the law had not its authors possessed the unparalleled
effrontery to vote as judges in the cause to which they
were parties, and the country been the victim of such
unparalleled fatuity as to submit quietly to the gross in-
justice of that proceeding.—Post.

BANK OF FRANCE.
The following was the situation of the think on Thurs-
day mming, Aug. 10, 1848:

A SSETS.

Cash in coin and ingots
Ditto in branch banks
Bills past due ... ...
Bills becoming due in Paris
Bills in the branch banks ~.
Advances on coins and ingots...
Ditto on French public securities
Ditto by branch banks... ...
Ditto to the State on Bons du Tresor...
Advance to the State on the lean of
50,000,000 f.
Reserve Rentes ••• ... ...
Rentes, disposable funds ...
Investments of the new branch hanks in
the public funds ...
Hotel and furniture of the bank ...
Real property and branch banks ...
Interest in the branch bank at Algiers...
Interest in National Discount Bank
Ditto branch banks „.
Bills Protested in the Bank ...
Ditto in the branches ...
Expenses of administration of the bank
Ditt-o at branches
Miscellaneous ...

f• .101,791,717 00
... 80,537,856 00
949,093 71
...• 93,441,026 08
... 132,055,222 59
... 15,976,217 10
... 37,778,296 65
1,395,535 90
50,000,000 00

25,000,000 00
10,000,000 00
13,213,208 51

12,806,741 39
4,000,000 00
2,523,241 00
1,000,000 00
200,000 00
230,000 00
20,691,549 53
10,973,123 00
136,111 58
117,946 00
1,156,924 14

iG15,973,812 18

FRANCE.

[The following appeared in our Third Edition of
last night]:—

From the latest accounts received from the French
capital it would appear that two good signs are
already visible—signs which augur well for the
stability of the Republican Government. First, the
revival of trade from the stagnation into which it had
been thrown by the revolution of February ; and
second, the increasing number of foreigners resorting
to this once gay and animated city.
The harvest promises admirably throughout France.
The Paris and Strasburg Railway directors have
given notice that, in consequence of their hav-
ing 15,071,447 francs of the funds of the com-
pany in Bons du Tresor, which the Govern-
ment offers to pay off in Three per Cent. Rentes,
at the rate of fifty-five per cent., while the
market price is 43, a sacrifice which they do not con-
sider it prudent to make, the Council of Administra-
tion has come to the resolution of making a call upon
the shareholders of 50f. per share, of which one-half
will be payable on the 20th October next, and the
other half on the 20th February, 1849. From the
second payment four francs per share are to be de-
ducted as interest for the last half-year of 1848, and
the definitive titles will then be delivered.
The Moniteur announces that subscriptions have
been received for 13,095,250 francs Rentes towards the
loan of 13,131,500 francs Rentes, five per cent., autho-
rised to be contracted by a decree of the National
Assembly of the 24th July, 1848.
The Rgfortne states that the distress amongst the
operative classes at Paris is every day becoming more
intense. Crowds of famished women, children, and
old men are constantly to be seen waiting at the gate
of the Luxembourg for the hour of the soldiers'
meal, in expectation of receiving a portion of it.
Serious apprehensions are entertained for the
Sap-
proaching winter.
A sentence pronounced by court-martial was, for
the first time since the revolution of February, car-
ried into effect in Paris on Saturday last. A soldier
condemned for forgery was degraded from his mili-
tary rank previous to being placed in solitary con-
finement.

SPAIN.
The Madrid papers of the Bth instant had not
arrived in Paris on Sunday.

POLAND.

The Breslau Gazette gives the following accounts,
dated Warsaw, 4th inst:—
" The first detachment of the Russian army is only
two miles distant from the Prussian frontier. The
soldiers are divided between the town and villages.
The vanguard is formed of the light cavalry. Forty
thousand men are encamped round Warsaw. In
the whole of the kingdom of Poland there are
two corps of army 50,000 strong. A third was expected,
but a part only arrived; the other portion repaired to
Luck, because the cholera had broken out among the
troops. Thera is also another corps of army near
Radziwill."

On the 4th instant the Emperor of Russia. had
been expected at Warsaw, but his MAJESTY'S arrival
was postponed on account of the ravages of the
cholera at St. Petersburgh.