The Sun.
London, England, 1848-12-07 00:00:00

THE BANK OF ENGLAND IN A

NEW CAPACITY.
TO THE EDITOR OF THE TIMES.

Sir,—As neither your time nor your columns are of
so little value as to warrant unnecessary words being
addressed to you, I beg to trouble you with the follow-
ing simple facts only; and if you are pleased to insert
this communication in your all-powerful paper, it may
elicit attention in the quarter from which a redress a
the grievance of which I complain may be derived.
I am an ironmaster, carrying on, through the super-
intendence of my sons, the several works of Cyfarthfa,
Hirwain, Newbridge, and the Forest of Dean; and am
the vendor of the produce of these works myself, as an
iron merchant, in Upper Thames-street.

Owing to the falling off in the demand for rails, the
iron trade is in a sad state of depression, and the com-
petition is such that bar iron and rails may now be pur-
chased at or about the rate of 51. per ton at the several
ports of shipment in Wales—a price which is below the
present actual cost of production.
I have met with the most cutting competition from a
company of ironmasters entitled in the iron trade " the
Bank of England;" and, in Liverpool and London, al-
most every quotation which I make to inquiries of the
price of iron for export, is met with the reply, " The
Bank of England will sell considerably lower."
To a quotation which I made to a metal broker for
only 50 tons of sheet iron for shipment to India, of 94
per ton free on board in the ducks here, I received the
answer " I can buy it from the Bank of England at
71. 10s. free on board here;" and I have since been in-
formed by the same party that he so bought the said 50
tons of sheet iron, the total amount being 3751.
In consequence of this very low, and to the makers,
ruinous sale of sheet iron, I deputed the same broker to
purchase of the Bank of England for me 100 tons of the
same description; but, after a delay in the acceptance of
my order of three days, I was informed that the "Bank
of England had been deceived in the quantity of sheet
iron which they could manufacture, and having already
sold several other parcels, could not enter into further
engagements at present."

Now, Sir, it appears to me, that however unwillingly
or unpremeditatingly the Bank of England may have
been drawn into the manufacture and sale of iron, it
cannot be within their province, even as " mortgagees
in possession of iron works," to carry on, as the Bank of
England, a trade or manufacture beyond what is con-
templated and warranted by their charter ; and, as an
individual iron master and iron merchant, I can but feel
deeply aggrieved by such a competitor as I meet with
in that company.
The wages which I, individually, am compelled to
pay my men weekly, and, at the end of each month,
amount to not less than 25,0001., the whole of which I
am bound to find in cash, and no part of my works,
(unlike those of my competitor) afford me the advan-
tage of making my own bank-notes. Were such con-
venience attached to my works, I could sell bar iron
205., and sheet iron 30s. pea ton below the market
price, and yet be enabled to pay my workmen on Sa-
turday night; and surely, Sir, if a charter to the Bank
of England for note-making be construed to extend to
making iron, a privilege ought to be allowed to us de-
pressed iron masters, in addition to the manufacture of
iron, to make our own notes ; and
.then we might by
possibility exist under competition with the Bank of
England.
How long this new trade of iron making is to be car-
ried on by the Governor and Company of the Bank of
England, in addition to their grand monopoly of paper,
will, in my humble opinion, much depend upon the no-
tice which you may be pleased to take of this matter;
and, powerful as you are in abating other grievances
and improprieties, I trust this may not be considered
unworthy of being taken up by you with your usual ex-
traordinary ability and acumen.
I are, Sir, your very obedient servant,
WILLIAM CRAWSHAY.
London, Dec. 6.

THE NATIONAL GUARD.—The following is a copy
of the answer of Alderman Salotnons to the letter of M.
Oscar do Sevelinge expressing the thanks of his col-
leagues and himself for the reception which they had
met in London :

, _ —"London, Nov. 24.
" My dear Sir—T bad very great pleasure d
honourein
mrece,eicvingon.
c
the communication with whi h
you
veying the satisfaction of
yourself and colleagues with
your visit to this country. I rejoice at the opportunity
that has been afforded to so many citizens of France to
mingle with the population of our gt • eat metropolis. In
as tar as I may have had any small share in facili-
tating your visa to places of peculiar interest to yuu (as
you are pleased to say), I feel highly gratified at the
terms in which you have so kindly recorded your satis-
faction, both in my private character of citizen and in the
more public one of alderman of London. Let us hope
that many opportunities of unrestrained intercourse may
present themselves. Whenever they do you will find the
British people ever ready to receive their French
neighbours
in the same cordial and friendly spirit ; and
I express the sentiments of all my fellow-citizens when
I give utterance to the wish that France may be free,
prosperous, and united. Let us endeavour to strengthen
the bond of union that exists between the two nations,
for it is evident that the maintenance of an intimate union
between our respective countries is essential to our
mutual welfare, as the best means of promoting order
and prosperity within, and as a guarantee of peace and
confidence without. I beg of you to communicate this
reply to such of your colleagues as were parties
letter to me.

" I have the honour to be, my dear Sir, yours truly,
" DAVID SALOBIONS, Alderman.
" M. Oscar de Scvelinge."
[ADVERTIkENIENT.]—PainfuI Wounds in the Legs
and Body Cured after Seventeen Years' duration by llol-
loway's Ointment and Pills.—Extract of a letter from Mr.
W. Staples, dated Belgrave-gate, Leicester, November 9,
1848. To Professor Holloway, Sir,—" I was an invalid
for seventeen years, suffering dreadfully with painful
ulcers in my legs, and different parts of my body; during
this period I was attended by several most eminent sur-
geons, but their remedies failed to do me the least good.
I then commenced using your Ointment and Pills, and
by these invaluable Medicines alone, I am pleased to
state that in a short time all the wounds were soundly
healed and lam restored to excellentlhealth." Sold by
all Druggists, and at Professor Holloway's establishment,
244, Strand, London.
The Committee of Council on Education
Secretary
ncrehtaavrye
appointed the Rev. J. W. Kennedy, for
of the National Society,inspector of schools for Lamas..
ter, Westmoreland, and Cumberland. Mr. Kennedy
entered upon the duties of his awe on Saturday last.