The Sun.
London, England, 1848-09-05 00:00:00

BALLOON RACE.

Another of those interesting and attractive en-
tertainments was given yesterday afternoon at
Cremorne-gardens. The weather being extremely
warm and fine, a circumstance almost despaired of in
these times of wet and wind, the grounds were early
thronged by a company of some thousands in number,
a testimony at once to the excellence of the enter-
tainments provided and the desire of the multitude
to participate in healthful out-door recreations. The
aeronautic contest was between the Royal Cremorne
and Albert balloons, the former conducted through
the regions of space by Lieutenant Gale, the letter
under the direction of Mr. Gypson. The balloons
being very nearly of a size, and of elegant shape,
rendered the race more interesting and exciting ;
circumstances, heightened by the knowledge in
some degree, of the ascending and sailing powers
of the two machines obtained in the last race, of
which we made favourable mention some time past.
Both balloons were inflated on the grounds, thus ren-
dering the whole arrangements complete. Shortly
after seven o'clock, all preparations having been ef-
fected, the signal for starting was given, and the bal-
loons were released from their moorings to set out on
their struggle for supremacy. The Royal Cremornewas the first to rise, thus gaining the lead of its anta-
gonist. For some time it kept low down, proceeding
in a straightforward direction, thus obtaining a consi-
iderable advantage over its oppcnent, which had by
t' is time made its ascent perpendicularly. They
con;inued in this state, the one ascending and the
other proceeding onwards for a considerable
time, \N-ben the Albert appeared to be fast
overtaking its adversary, evidently with a view
to pass ovslr it. Lieutenant Gale appeared to
perceive this, for his tight aerial vessel darted for-
ward and was lost to the sight, closely followed
by the Albert. The two racers had a most beautiful
'ed through the fine clear air;
appearance as they sai.
the one opaque and dusk) - appeared to reflect the rays
of the setting sun, while th, I other, clear and trans pa-
from within, its yellow
rent, seemed to be illumined
coloured silk and crimson zont. s , showing like amber
set with rubies. When the bait cons were fairly lost
in the distance, and not till then,. did the company
turn to participate in the other aca usements afforded
by the spirited lessee. The ballet it,' the theatre, with
its characteristic dancing, pretty dr tsses, and light
sparkling music, gave general satisfact. 'cT." Previous
to the Lai dete, a piece of music, entitles,
in the Pyrenees," was performed by the ilB l"( A
inS Storm
rendered
Pagoda Orchestra. This musical novelty .
more striking by the introduction of novel's which
The ball and firework.
pyrotechnic effects. ~.-enic and
i (vntion
followed both attracted their due share of att
and eulogy; indeed the proceeiings throughou.'• the
afternoon went off with the utmost eclat.

REVIEW OF THE MONEY MARKET FOR THE
MONTH OF AUGUST, 1848.—The general tendency of
the transactions of the month of August has been
towards decline and circumspection. There has cer-
tainly been no marked depreciation, nor the prevalence
of any distinct precaution, but the general observation is
nevertheless true. Consols have fluctuated between 87i
and 85k, and Exchequer-bills have gradually come
down from 38 to 28. In the Railway market the dealers
have been very much at the mercy of the half-yearly
meetings, and we are not sorry to observe that the
result of most of these meetings has been such as to
impress the holders of railway property very strongly
with the conviction that, after all, a railway company is
only a shopkeeping concern on a large scale, and that to
obtain the pounds it is more than ever essential to take
care of the pence. The French loan, to which we al-
luded in our last review, has been subscribed, very much
to the justifiable surprise of most people, entirely out of
French capital. Our own Chancellor of the Exchequer
informed the House, on the 25th August, that he also
wants a loan for 2,000,000/., and be proposes to take an
Act which will authorise either the issue of. Exchequer-
bills or the creation of stock for the required. k
amount.
Unless he uses great expedition, we do not thin he will
find it expedient to interfere with his own bills insupe
market by increasing the supply. We should Father-
pose that a funding operation would suit
If ho the tseimt s better
than one of the opposite character.lls Con-
sols, he will certainly not sell them at 89—the price he
obtained for the Irish loan. The scrip of that speculation
has left behind it many unpleasant reminiscences, and
we are disposed to fear that Sir Charles Wd has had
the imprudence top ostpone his announcemooent until a
conjuncture at which a borrowing minister will have, as
well the recollections of the past as the difficulties of the
present to contend with. He should have tried his hand
in tlie market five weeks ago, when Consols were at 89
and looking up to 93.—Bunkers' Magazine.
RAMSGATE.—The town is now, we think, at the
top of the season; vast numbers crowd the splendid
sands every morning. We have heard some complaints
as to the practice of the bathers, and hope that the pier
authorities will use the powers invested in them. With
the many visitors that arrive there are also a great
lare
num-
ber who have come down with the intention of .'
upon their neighbours' chatchattel.A femalo last week
lost her purse and 61. 19s. This town is fur behindi‘rek
its ny,
other watering-place in having amusements o
visitors. The only place, Victoria Bazaar, is nightly
h
crowded, as is the Marine Library, by e gentry. We
have no theatre or public garden nearer
than St. Peter's,
which it is often difficult to reach, owing to the weather
being 6ct unsettled,--Canterbury Journal