The Sun.
London, England, 1856-09-18 00:00:00

THE SUN, _LON DON, TISURSDA Y EVE

TUE SILVER DRAIN.

(From the Times' City Article.)

The exportation of silver to China is still attract-
ing general attention, which isincreased by
vague dread lately excited, in the stock market.
At the conclusion of the war every one calculated
on a rapid recovery of the Bank bullion, and an
advance took place in the funds, not only, in conse-
quence of the amounts which began to flow in, but
of the anticipations of the still greater totals that
might be expected. Early in July an adverse turn
commenced, which has continued with scarcely an
intermission to the present time, and which seems
likely to gain force. The specie drain to the East
presents itself as the only cause of the disappoint-
ment, and a large number of people who know that
the movement is in some way connected with the
rebellion in China, and that there is no prospect of
a termination of the struggle, seem to be seized
with apprehension at the discovery, and to accept
it one from another as something to excite perma-
nent misgivings, and to disturb all future calcula-
tions. They notice the daily accounts of the
ab-
sorption of silver on the Continent, as the gold sent
from this side to pay for it, and of the attempt oi s
the various Governments, by ordering the
of State
banks e
banks to put up their rates of discount,o%uasi,
France, by the impotent contrivance buying
gold at a premium on one hand which the bank is
immediately obliged to part with at its natural
value on the other, to check the growing inconve-
nience. Nevertheless, every overland mailbrings
news of an increased demand. The cry is y
the
conse-
quently raised that, no matter what m
extent of the gold production, the East willa be
absorb
it all, or at least will take silver from Europe to an
equal or greater extent.
A moment's reflection on the first principles of
commerce and finance will dissipate the anxiety.
There is no mysterious power on the part of the
Chinese to drain specie from us at will. They will
get no more from us than they are prepared to pur-
chase by a full equivalent, and unless it can be
shown that we are consuming their goods in waste,
and to a degree which our earnings as a people are
not sufficient to warrant, we may rely that, how-
ever pertinaciously they may insist on having sil-
ver, and that however carefully they may hoard it,
they cannot occasion to us the slightest permanent
disarrangement.
The bearings of the whole question may be con-
cisely demonstrated. The financial position of a
country must depend solely on the amount of its
productions as compared with its expenditure.
Taking this test there never was a period when
England was so secure as at the present moment.
As regards our productions, agricultural and me-
chanical, we have just completed a harvest which,
taking every description of crop into account, may,
on the whole, be pronounced unexampled, while it
is estimated that the value of our manufactures ex-
ported this year will exceed by ten millions ster-
ling the highest total yet attained. In the face of
this the only question is, have our people indulged
in, au extravagant consumption of foreign articles
sufficient to counterbalance the prosperity thus in-
dicated, or have they been deluded into sending an
unusual amount abroad in the shape of loans or
otherwise? The observation of all persons, coupled
with the monthly statistics of the Board of Trade,
will show there is no ground for the former assump-
tion, and the answer is equally satisfactory on the
latter, since, although a large number of schemes
for foreign railroads and other works have been
brought forward, very few of them have passed,
as yet, beyond the rudimentary stage.
In such a state of affairs an unfavourable finan-
cial prdspect would be anomalous and incredible.
We might therefore, even if we were unable to
trace to their conclusion the peculiar circumstances
at present existing, rest in perfect confidence that
' the result will be satisfactory.
But there is no difficulty in working out the
problem. Last year the total shipments of bullion
to India and China were 4,817,541/., of which only
757,8751. went to China. This year they have
already amounted to 8,279,116/., of which China
has taken, principally within the last two or three
months, 2,326,3751. The demand for India has
been consequent on the better market for the pro-
duce of that country opened by the Russian war,
the effect of which has scarcely yet subsided, and
on the India Company in London abstaining from
drawing the usual amount of ;bills while they can
avail themselves of the railway calls obtainable
here at 5 per cent. The demand for China, which
had only lately and suddenly become serious, is
chiefly attributable to the failure of the continental
silk crop and the consequent prices at which all the
Chinese qualities are now being eagerly purchased.
The other influences are of minor importance, but
among them are to be reckoned the indisposition
of the people while the rebellion is raginc, to pur-
chase goods, whether consisting of English manu-
factures or of opium, from India. The exportation
of English goods, however, to China during the
last three years has averaged only about 1,300,0001.,
and therefore not falling off in this item could be of
any moment, and the utmost amount of the dimi-
nution in their consumption of opium would pro-
bably not exceed 1,000,0001. Hence it is upon the
silk payments that the gravity of the case depends.
This fact at once throws light upon the assertion
that England can sustain noappreciable injury from
the movements about to take place. To France it
must be a point of anxiety whether the manufac-
turers of Lyons obtain their staple from their own
growers or are compelled to buy the produce of
China, but England does not grow silk, and therefore
haS always to pay for what she consumes. There is
no reason to assume that this year she will take,
either in quantity or value, more than her regular
amount. Indeed, according to the laws that com-
monly regulate such matters, the augmentation in
price is likely in a more than equivalent degree to
check consumption. The excess that arrives will
consequently be shipped to foreign countries, and
in its effect on the exchanges will operate as if, in-
stead of silk, we had received so much bullion.
But although every dollar we are now parting
with will this ultimately be repaid with the addi-
tiou of some considerable profit for our services as
carriers, insurers, and agents, there can be no doubt
that the withdrawal of specie whic'i must be sub-
mitted to in the intervening period is calculated to
contract our ciroulation, and perhaps occasion even
an increase of the pressure now regarded with dis-
appointment. The opinion of some of the leading
East India houses in London is that in the twelve
months from July 1856 to July 1857 a total of
8,000,0001. will have to be paid to China and India
in excess of that which was paid in the preceding
12 months. This calculation may be too high, but
it is as well to assume its correctness. They reckon
an increase of 5,000,000/. in thevalue and quantity-
of silk, a reduction of 1,000,0301. in the value and
quantity of the opium to be supplied from India to
China, and a limitation of the drawings of the
India House upon the territorial revenues to
2,000,0001. below the usual amount. In this way
there is 5,000,0001. more to pay and 3,000,0001.
less to receive, and a consequent alteration of
8,000,0001. in our relative position.
Such a sums added to 10,000,000/. or more,
which was the amount taken from us in the 12
months to July last, would make a serious aggre-
gate to be provided in the ensuing season. There
are, however, a number of counteracting circum-
stances already coming into play which will alter
the prospect. In the first place there is no reason
to suppose that the imports of produce from India
will this year approach their previous total. It is
believed that 4,000,0001. or 5,000,0001. may be
struck off, including 1,000,0001. for rice and
2,000,0001. or 3,000,0001. for seeds, &c. It is
also to be questioned if the India_ouse will be
able to limit their drawings to the amount con-
templated. They require between 3,000,0001. and 1,
4,000,000/, for their disbursements in England, but
hesitate to draw it lest they should compel the
local Government to resort to a 5 per cent. loan.
To this, however, they must probably come at last,
and they will, perhaps, recognise the necessity for
it, instead of continuing the palliative of trusting
to their railway funds.

In this way the extra amount required may be
reduced from 8,000,0001. to 2,000,000/. without
taking into account the possibility of an increased
consumption of opium or of European goods being
yet witnessed. in China, when the silver, lately de_
spatched thither shall have had time to ereateAn
effect. It is only recently that the quantities sent
to that country hav* been so enormous, and, nott•
withstanding the war and the hoarding propensi-
ties of the people, it is reasonable to expect that
their newly-acquired wealth will not 130 entirely
buried.

Estimating, however, that a total of 12,000,000/.
will be required during the 12 months ending July
Next, the limits of the inconvenience we aro likely
to sustaiu may be easily comprehended. In ?-Bas,
the worst year of the war, we parted with nearly
5,000,000/. to the same region, without Much
trouble, and in the first eight or nine months of
this year we have already sent away more than
8,000,000/. Meanwhile the results are manifegting
themselves in the increasing arrival of valuable
cargoes, which must tend to keep us in an excel-
lent position, not only with the Continent, but
with America. Supposing our European relations
to involve no drain, the Australian gold arrivals
alone would enable us to buy silver to meet the
whole demand for the East, even apart frdm the
Mexican supplies, while the California regfiipts via
New York or the Isthmus would remain to swell
eisting stocks. This result, however, even in a
partial degree—for there must always, as London
is the banking centre of the world, beot nbuer tic
become er ou ay ya
ments to the Con tinent--may n
t for
40220 . because in addition to the

actual demand for specie for exportation, a tempo-
rary absorption of gold is taking place all over
Europe, from its being withdrawn from the banks
and the ordinary purposes of the money-market
into the hands of the dealers, who stock themselves
with a quantity to enable them not only in the
capitals, but iu every petty town, to buy up all
the silver coinage that may be available.
It remains to be noticed that one cause of the
prevailing disquietude regarding
.the drain arises
from the extraordinary way in which the inconve-
nience of the movement is aggravated by the effect
of the silver standard on the Continent and the 'de-
privation the people are experiencing from the dis-
appearance of their regular medium of exchange.
In consequence of this the panic is brought home
to every shopkeeper and peasant, and the move-
ment assumes all the terrors which popular igno-
rance can bestow- upon it. If the French and other
Governments were to take at once the step which
it was years ago predicted they would find neces-
sary, of resorting to an exclusively golden cur-
rency, and were to offer the present market price
for silver and re-coin it at a debasement of 10 per
cent., they would at once escape from a great part
of their difficulty, and all they would then have to
contend with would be the results, which must
still be serious, of their deficient crops. Sooner or
later the plan must be adopted, and there is nothing
to be gained by delay.
It will be seen from what has now been stated
that there are no points iu the present financial
condition of England but such as may be viewed
with congratulation. Even the prevailing pressure
is in every respect salutary, since, while it fails to
exert the slightest effect on the healthful buoyancy
of the general trade of the country, it checks the
multiplication of those foreign schemes which are
waiting to be poured upon the market, and in the
indiscriminate reception of which our greatest
future peril will be found.

IRELAND.

DUBLIN, SEPT. 17.

The Dublin Gazette of last night at length con-
tain sth e announcement of Mr. Bourke Roche's eleva-
tion to the peerage with the title of Baion Fermoy.
The subscriptions for the Crimean banquet ex-
ceeded 1,0001. up to last evening, and the names
of men of all political parties are daily added to the
list of contributors.

Sir Colin Campbell arrived in Limerick from
Cork on Monday, and proceeded at once to an in-
spection of the troops, which was conducted with
the utmost minuteness. The gallant general also
inspected the barrack schools and the military
prison, and last evening set out for Templemore.
On Saturday evening last, Sir Colin, having com-
pleted the inspection of the Cork district, pro-
ceeded to Queenstown to visit Rear-Admiral Chads,
Naval Commander-in-Chief on the Irish station.
The Theatre Royal was again last evening crowded
to excess with a brilliant and fashionable audience,
the opera being " Lucrezia Borgia." The season
promises to be the most successful that has been
experienced in Dublin for some years.
MR. W. SMITH O'BRIEN ON IRELAND.

A scene of peculiar interest, and recalling the
events of former years in Ireland, although in many
ways strongly contrasted with them, was witnessed
on Sunday at Cahermoyle, the seat of Mr. W. S.
O'Brien, near Rathkeale, in the county of Lime-
rick; a. vast multitude of persons congregated from
several of the neighbouring towns and the surround-
ing districts having assembled for the purpose of
giving the late political exile a thorough Irish wel-
come home. The scene took place after divine ser-
vice ; and the people preceded by a band of music
from Limerick, entered the demesne of Cahermoyle
in procession, reminding one by their appearance
and enthusiasm of the monster meetings of 1843.
Several of the neighbouring gentry, and a great
many of the Roman Catholic clergy were present ;
and an addres§ to Mr. S. O'Brien having been read,
that gentleman returned a reply characterised by a
good deal of sound sense and good advice. He said :

"Disappointments, privations, and sufferings fall
lightly, comparatively speaking, upon those who possess
a happy home. My home has been rendered, happy not
only by the possession of every domestic blessing, but
also by the attachment of the population who surround
me. Twenty-two years have elapsed since I first came to
settle in this county, and during that period no one cir-
cumstance has occurred which could tend to interrupt or
impair the kindly sentiments which I desire to cherish
towards my neighbours in the west of the county of Li-
merick. Or rather I shOuld say that you have lost no op-
portunity of offering to my family and myself the most
unequivocal testimonies of your affection and respect.
Nor can I ever forget that I had been established at
Cahermoyle little more than two months when I was
called forward to represent the county of Lime-
rick, and that you sustained me in that position during
fifteen years on terms more honourable than, perhaps,
ever subsisted between a member and his constituents.
Let it not be supposed, however, that when I speak in
this manner respecting the inhabitants of the county of
Limerick, I am insensible to the feeling which has been
manifested towards me elsewhere. Seldom have I met
an intelligent foreigner who has nct sympathised with
the wrongs and sufferings of Ireland, or who has failed
to evince his regard for me when he learned that I was
an exile, because I had striven to ward off those suffer-
ings and those wrongs. For the same reason my name
has been mentioned with honour in the colonies and in
America, where the Irish settlers cherish towards Ire-
land feelings more intensely national than those which
at present prevail in this country. I may add, I trust
without arrogance, that notwithstanding all that has
been done to eradicate the sentiment of Irish patriotism,
I have reason to believe that if I had given notice that
I should arrive in Dublin on the seventh anniversary of
my transportation—the 9th of July—l should have been
greeted with as large a " monster meeting" as ever was
assembled within the precincts of the metropolis ; and
that scarcely a week had elapsed after my arrival when
I was offered the representation of the county of Tip-
perary by a body which acts as the organ of a majority
of the freeholders of that county, and who, I have no
doubt, would have been able to give effect to their choice
in case I bad acceded to their request. I have been in-
formed, also, that the electors of my native county, Clare,
are desirous that I should occupy the vacancy which
will probably arise at the next election by the retirement
of one of the present members. These manifestations of
opinion I attribute not to my own merits, nor even to
entire c mcurrence with my political views, but to the
generous nature of the Irish people. They would re-
proach themselves, even if they did not fear the reproach
of other nations, if they were to exhibit coldness or in-
difference towards those who suffer in an attempt to save
them. My determination to stand aloof from the Bri-
tish Parliament continues unaltered. You kindly allude
to the probability that my son may hereafter represent
the county of Limerick ; at present he is under age, and
will be occupied for several years with the studies neces-
sary to fit him for the bar, to which profession he is des-
tined: If he prove his capacity for public affairs by
successful exertion in his profession, I will not dissuade
him from adopting whatever career he may cousidei
most useful to his country. In the eneautnue, I
am happy to inform you that I place uultaiited
confidence in his devotion to Ireland. For myself,
many considerations of a domestic kind would at present
n nder me reluctant to pass six months out of every
year in London ; but these. considerations might per-
haps hereafter be overruled, if I were not convinced that
my time can be not only more happily but also more
profitably spent in my native laud. I have no desire
again to waste night after night in witnessing or taking
part in the discussion of questions relating to Ireland
which are to be determined by the votes of English and
Scotch members, who feel no concern about them, and
who often do not even take the trouble to attend the
discussion, but simply vote as they are directed by the
leaders of the English Parliamentary party. Nor shall
I conceal from you that my sentiments respecting the
interests of this country are not in harmony with those
which at present prevail amongst the influential classes
in Ireland. When in 1843 I avowed myself to be fully
convinced that the only effectual guarantee for the per-
manent welfare of our country is to be found in the
restoration of its legislature, I did not profess this con-
viction only as a means of extorting secondary advan-
tages of either a personal or a national kind for the in-
habitants of Ireland. I adopted it as a stern reality,
the furtherance of which would probably for severe,
years require many personal sacrifices on the part of
those who became the champions of their ceuetry's
rights, and which specially demanded an entire separa-
tion from all connection with English Governments and
English parties. Within the short space of ten years I
have f ein almost every man who was a prominent leader
in the repeal agitation (except those who were driven
mos exile) become a stipendiary or a supporter of the
British Government. I have no desire to impugn the
motives or conduct of any man, a change of circum-
stances sometimes justifies changes of opinions ; and I
,always prefer to impute even to doubtful actions hon-
ourable rather than base motives • but when I find that
these changes have been sanctioned_amid' in some in-
stances endburaged—by the constituencies of Ireland I
ant compelled to conclude that my opinions are out' of
abe
up: en at raei. „appeared
that
Taralthe
neveridn dot}
tt
date, and that Irish patriotism no longer means what it
is
:meeafyi maintained, is nlh6eB
misunderstood.maiattd43'norLdeot altennoowJn,t
Patriots to peek
serparation from England by forcible means. Under all
circumstances cirCustances when in 1848 this 'country was
reduced by'rnisgovernrnent to a condition more abjects
than any that it had known, even in the worst period
of
its disastrous history, and when we were deprived of all
constitutional methods of redress, by the suspension of
the Habeas Corpus Act, I thought, and I still think
ehatlf we had been supported by the Irish nation in the
struggle- which we commenced, we should have been able
secure for Ireland, within a few months, or perhaps a
few weeks, the inestimable. blessing of self government.
A few years' residence in Belgium, which, during the
last 25 years, has been one of the. best regulated nations
of Europe, has confirmed me in the conviction that a
Government founded on a successful revolution may be-
come the most stable of all governments. But it is vain
to speculate upon what might have happened if we had
succeeded in 1848 in establishing the national or legis-
lative independence of Ireland. Fate decided against us,
and since the occasion required a victim, I rejoice that I,
who was mainly responsible for the abortive movement,
became one of the chief victims, rather than that others
should have suffered—many of whom followed the path
of danger in consequence of the implicit confidence which

they placed in their leaders. I accept otir defeat as a I
decree of Providence ; and if the Irish people think tb.z..l, -
we can be more happy under the government of the
Imperial Parliament than under that of a local Legisla-
Pure, lam compelled to acquiesce in that preference. I
acquiesce in it with the less reluctance because this coun-
try is now comparatively prosperous, and" because some
of the evils which gave occasion for disconteat have been
mitigated. Personally, I had no ground for complaint
when I first became an auxiliary in the national effort
which was made to obtain a legislature for Ireland,
and in 1848 I put to hazard everything that was most
valuable to me for the sake, not of myself, but of my
suffering fellow-countrymen. I trust, therefore, that
I shall be able to live happily amongst you, my kind
friends and neighbours, even though the aspirations
which I once cherished for the glory and gran-
deur of my country may never be realised. At
the same time I hold myself perfectly free to
t Ike whatever part in Irish affairs best befits an Irish
patriot. I never would have returned to Ireland if fet-
tered by any conditions other than those which are
imposed by social duty upon every Irishman. I shall,
therefore, occasionally take the liberty to offer advice
upon public affairs to all who are disposed to listen to my
suggestions ; but for the present I desire to enjoy repose
during a few months, if it were only that I may have an
opportunity of studying the altered circumstances of this
country. In penning this long answer to your kind
address, I have thought it right to abandon all reserve.
In doing so I do not seek to pledge you to conformity
with my opinions. There is one point at least upon which
all who have met here to-day agree. We all love Ireland,
however we may differ as to the best mode of serving
her. To me it is delightful to feel that, whatever the
faults of the Irish race, they are endeared to me by their
kindly, genial, and generous character. Since we last
met I have seen almost every variety of the human species,
from the lowest to the highest type of humanity, French,
Spaniards, Belgians, Germans, Italians, Greeks, Africans,
Asiatics, and even Aborigines of Australia. I have been
brought into cur tact with some of the most accomplished
and some of the most brutish specimens of the human
race; I have seen nowhere a people among whom I would
so willingly dwell as among that people with whose des-
tinies the destinies of my family are inseparably identified.
Since last we met I have wandered through many a beau-
tiful scene in foreign lands ; I have gazed on the snowy
summits of the Alps and of the Appenines—of Etna and
Parnassus; but I prefer a home within sight of the Gal-
tees. I have traversed the most lovely lakes of Switzerland
and of Italy, but for me Loughderg and Killarney have
charms which exceed those of Zurich or Como. I have
crossed the valleys of the Po and of the Nile, far famed
for their exuberant fertility ; but their fertility can
scarcely surpass the evergreen verdure of the rich fields
of my own native land. It is truly delightful to me to
Sad that imagination and the yearnings of absence,
which is said " to make the heart to grow fonder," have
not exaggerated for me the charms of ill native coun-
try ; and that I can here realise to myself the sentiment
which induced me, when returning home from distant
lands, to exclaim with the poet, respecting Ireland :
It may not brightest be, or best ;
To me it spreads a mother's breast ;
Its springs well from my inmost heart
Its skies my heav'nliest dreams impart.
Its earth enshrines my parent's tomb—
Its air, amid life's darkest gloom,
Breathes hope into my withered soul.
Swiftly ye loitering billows roll—
Swiftly ye lagging coursers fly
Once more beneath my longing eye
In thy familiar charms expand
My own—my blessed fatherland.

INCUMBERED ESTATES COURT.
(LONG VACATION.)
PETITIONS.—The following petitions were presented
from Friday, the sth of August, to Thursday, the 11th
of September, 1856, both days inclusive :—Blackney,
James (assignee of), Thomas •Jobn Smith, petitioner.
Property in the county of Westmeath. Yearly value,
2661. 9s. 4d. ; incumbrances, 7,1691. 13s. 7d. Solici-
tors, Ardill and Stephens, 72, Aungier-street. Hoops,
Alexander, owner ; Rodolpb, Murphy, petitioner.
Property in the town of Tipperary. Yearly value, 851.
16s. Bd. ; incumbrances, 450/. Solicitor, John Gra-
ham, 93, Harcourt-street. Thompson, Henry, and
others, owners • John Motherwell, petitioner. Property
is the county Of Donegal. Yearly value, 451. 15s. 41;
incumbrances, 1,8621. 2s. 2d. Solicitor, Bobert Mease,
9, Eustace.street.

CONDITIONAL ORDERS.—The following conditional
order was made from Friday, the stb, to Thursday, the
11th Sept., 1856, both days inclusive :—Robert Hanly
and another, owner ; the trustee of T. Gilmore, peti-
tioner. Solicitors, Bowman and Campbell, 19, Upper
Ormond quay.
ABSOLUTE ORDERS.—The following absolute order
was made from Friday, the stb, to Thursday, the 11th
of Sept., 1856, both days inclusive :—The Rev. Thomas
J. Jones, owner and petitioner. Solicitor, William K.
Clay, 23, College-green.
POSTINGS FOR SALE.—There were no postings for sale
since last report.

• MISCELLANEOUS. —The next 'sale to take place in
court is posted for Tuesday, Nov. 4 next. Total number
of petitions lodged, 3,944 ; total number of conveyances
executed by the commissioners, 6,144 ; total number of
lots sold, 9,329 ; total produce of sales, 18,099,3501.
14s. 9d.—Statistics Office, Sept. 12, 1856.—C, M.
0 BMSBY.

THE PENSION LIST IN CONNECTION
WITH LITERATURE, SCIENCE, AND ART.

The following letter has been addressed to a contem.
porary:—.

Sir,—Three years ago a letter from my pen appeared
in the public press on the subject of the claims of the
widow of the Ettrick Shepherd upon the justice and be-
nevolence of her country, and that letter, together with
a subsequent correspondence on my part with Lord Aber-
deen, the Right Hon. T. B. Macaulay, and others, was
the means of Mrs. Hogg'e procuring Cie pension she
now enjoys.

Again I ask the same privilege with respect to a lady,
the widow of one of our liveliest and wittiest modern
writers, whose name was not appended to his popular
works, but whose position in the literary world, during
his lifetime, was well known and recognised, and whose
essays remind us of the best days of " Elia" and Hazlitt
—I allude to the Rev. W. P. Scargill.
The Rev. W. P. Scargill died in Jan., 1836, of pres-
sure on the brain (that fearful malady which overthrew
Scott, and Southey, and Moore, and Wilson, and a host
of others distinguished for intellectual exertion), leaving
his widow, a young family, and an aged mother utterly
unprovided for—in other words, destitute.

For 20 years Mrs. Scargill has been living in obscurity
and poverty, unprovided for, although no fewer than three
First Ministers of the Crown have successively acknow-
ledged her claim to public countenance and support.
Allow me, air, to trouble you with a brief detail of the
late Rev. W. P. Scargill's intellectual labours, and of his
widow's claims to be placed as a pensioner on the civil
list.

For several years Mr. Scargill was engaged along with
other classical scholars, including Mr. George Burgess,
Dr. Major, E. H. Barker. &c., in editing, revising, or
translating as required, the works issued by Mr. A.
J. Va;py. Among these I may mention the
" Delphin C'as-ics," " Schrevelius's Greek Lexicon," the
Latin interpretations of which were rendered into Eng-
lish ; " Robertson's Latie Phrase Book," and many
other works of scholastic uci ity. He was also the author
of many. novels and tales, which are in good repute.
Witness " Truckleboriugh Hall," "Rank and Talent,'
" Provi,:cial Sketches," "Trials and Triumphs," "Light
in Darkness," "Atherton," "The Usurer's Daughter,"
"The Puritan's Grave," &c. He was on the staff of the
Atlas ; and contributed to Blackwood, the New Monthly,
&c., and wrote occasionally for the Athenteant. He was
the personal friend of the late Mr. Barnes of the Times.
After his death his widow collected and published, in 2
VOIR., sketches and essays by him, under the title of the
"Widow's Offering."

In proof of Mr:Scargill's recognised position in the
literary word, when on his d.%th bed, and without any
application on her part, Mrs. Scargill received from the
Royal Literary Fund, 30/. ; no sooner was his death
known than 201. more was forwarded to her, voluntarily,
from the same institution.

When Mrs. Scargill first sent in her claim for a pen-
sion, that claim was recognised by Sir Robert Peel, the
First Lord of the Treasury ; and in token of that recog-
nition, he sent her a donation from the Royal Bounty
Fund. The Earl of Derby and the present Premier
responded in like manner from the same source; and so
late as within the last fourteen months, Lord Palmer-
ston, to use his own words in a letter to a member of
the House of Commons, "made a note of her case for
future consideration."

Sir, I have no personal interest in Mrs. Scargill. I
simply addre4s myself to you in regard to her on public
grounds. Till recently, I was not acquainted with her,
or with her case. lam very unwilling to make any
comments on the manner in which the pension, money,
ostensibly set apart for the encouragement of literature,
science, and art, is applied ; but at the same time it is
utterly impossible fcr me to shut my eyes to the fact
that of that pension money (1,2001.), from June, 1855,
to June, 1856, not less than 9251. was appropriated to
purposes for which it was never intended. Out of it the
three eldest daughters of that distinguished warrior,
Lieutenant-General Cathcart, receive 1001. per annum
each. In tbe,name of all that is consistent, why should
these ladies be quartered on this portion of the civil
list ? What has literature, science, and art, to do with
those who shed their blood at Enkerman, at Alma, and
in the brilliant charge of the Cavalry Light Brigade? In
the name of right reason and of common sense, if so
paltry a sum as 1,2001. a-year is all that is to be set
apart from the public funds for encouragement to litera-
ture, science, and art, while thousands, and tens of
thousands, can be, found for purposes of a far less benefi-
cial description, let it at least be confined to the objects
which it has in view, and let it not be squandered on
purposes which are not in any degree connected with
it.—l am, &c., JOHN MARSHALL.
Windsor, Sept. 16.

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Y

RAILWAY INTELLIGENCE.

GRAND TRUNK RAILWAY OF CANADA.
A meeting of the shareholders of the Grand Trunk
Railway Company of Canada was held yesterday at the
London Tavern.

Tile chair was taken by T. Baring, Esq., M.P.
The report having been taken as read,
The CHAIRMAN, in opening the proceedings, said the
report having been taken as read, it would be his duty
to submit the usual resolution to the meeting. The
directors were prepared to give every explanation it
was in their power to any inquiries that might
be put to them, and to express their opinions
upon the different points that might arise in
the course of the meeting. He had been informed
that a motion for the adjournment of the meet-
ing, and also for the appointment of a committee to
ascertain the state of the affairs, would be made. The di-
rectors were ready to grant a committee if it was the in-
tention of the meeting to appoint one, and in the event
of the motion being agreed to were anxious that
the members of the committee should be independent
of contractors. (Hear, hear.) There would, as '
he before said, be no objection to such a course, but
it was for the members to consider the effect that was
produced by the appointment of committees. The
effect, in the present instance, would be to produce in
Canada an impression that there was a division in
the mode of conducting their affairs. With these
few observations, he put it to the shareholders
whether it would be desirable to appoint such a com-
mittee as was proposed. He thought it advisable if the
present meeting was to be adjourned, that it should be so
adjourned without any further discussion. The resolution
he should move, supposing such a course had not been
adopted, would have been that the report be received,
and that they be directed to take steps to carry it into
effect. He should not propose such resolution until the
question of adjournment had been disposed of. There
were also other resolutions which he should move, to the
effect that this meeting should co-operate with the direc-
tors in Canada, to get a modification of the act
passed by the Legislature ; but, of course, until the
course it was intended to adopt was fixed, it would be
futile for him to move any resolution. He assured the
meeting there was no attempt on the part of the direc-
tors to quit the ship, but to stand by it until it floated
safely in deep water.
Mr. CLARK complimented the chairman upon the
straightforward course he had taken, but he thought it
was his duty to move the adjournment of the meeting,
and also that a committee of inquiry be appointed..
A long discussion took place as to the advisability of
adjourning the meeting. The motion was eventually
withdrawn.
The CHAIRMAN said he thought that a wise course had
been adopted. It did not surprise him to hear a
diversity of opinion expressed on the position of the
company, but he did not despair of the prosperity of the
undertaking. He felt that the Canadian Legislature
would afford the shareholders the relief they required,
and it would be impolitic for them to reject the act that
had been passed. It was not the way to get relief to
refuse that which bad been given. It was absolutely
necessary that funds should be raised to meet the exi-
gencies of the company ; and, under these circumstances,
the directors were compelled to recommend to the sanc-
tion of the shareholders an increase of the capital of the
company to the amount of 500,000/. This amount they
suggested should be raised by the creation of deben-
tures. It would be seen by their accounts that they
had no surplus in hand, and it was imperative that
the sum he had mentioned should be raised, in order to
meet the sum that would have to be provided before the
Ist of January for interest. Under all the circum-
stances he thought the best course to adopt was to raise
the 500,0001. on bonds, to come in for payment after
the other bonds already issued. He assured the meet-
ing that everything that was possible was being done to
put the company in a good position.
Mr. CLARK believed that nothing but mismanagement
had placed the company in the position they ski present

occupied, and he thOught that the appointnient of a com-
mittee, and the adjournment of the present meeting for
a few days, would be the best thing that could be done
at present.
Mr. WEGUILIX entered at some length into the diffi-
culties that had beset the operations of the undertaking,
but he did not think there was any cause for despon-
dency as to the ultimate prosperity of the company.
The Hon. Mr. Ross explained the different points in
the report that had been alluded to, and said he should
feel great pleasure in answering any questions that
might be put to him.
A SHAREHOLDER begged to ask why Mr. Liddell's
proposition for the 'Victoria-bridge was not carried out ?
Mr. Ross said he would answer the question in a few
words, namely, he did not think that the present was a
fit or proper place to enter into a scientific discussion.
(Hear, hear, and," Oh, oh.")
A SHAREHOLDER asked when the bridge, with the
present expectations, would be completed 7
Mr. Ross—lf so unforeseen obstacles should occur,
the bridge would be finished in 1860.

Mr. DOUGLAS was about to address the meeting, when

Mr. GLYNN rose to a point of order—he wished to
know whether Mr. Douglas, he being only a bond.
holder, could address the meeting.
The CITAIRMAN said he was legally informed that Mr.
Douglas could not address the meeting.
A discussion on the point arose, but it was ultimately
decided that Mr. Douglas had not the power to speak.

Mr. CLARK said he believed the time had arrived at
which they ought to move the adjournment of the meet-
ing. He begged, therefore, to move that the present
meeting be adjourned for a fortnight.
The motion having been seconded, it was put to the
meeting and negatived, as was also another proposition
that an adjournment take place for a month.
Mr. CAMERON, a member of the Canadian Legislature,
stated that be had great confidence in the ultimate suc-
cess of the undertaking, and advised the shareholders
not to depreciate or sell their stock. He did not think
they would get the per cent., as the original pros-
pectus set forth ; but he thought that they would get 5
or 6. In order to secure this it would be absolutely ne-
cessary to alter their present system of management.
He thought it would be desirable, in order to secure the
prosperity of the undertaking, to have one or two gen-
tlemen, in whom they had confidence, in Canada, as
managing directors, having seats at the board, and also
possessing the power to receive and use proxies. This
plan had been conceded by the Legislature to the Great
Western Railway, and he had not the slightest doubt
that the same concession would be made to the Grand
Trunk Railway. (Hear, hear.) The hon. gentleman
having given a very excellent description of their property
in Canada, concluded by calling upon the sharehol-
ders not to lose heart in the undertaking, and assured
the meeting that the Canadian people would fulfil all
their promises to the very letter.
Sir A. MtNas entirely concurred in the observations
of Mr. Cameron.

The CHAIRMAN said that the following passage in the
report would show what was the feeling of the directors
as to the proposed alteration in the constitution of the
London Board :—" The serious attention of the Lond, n
Board has been drawn to the existing constitution of the
direction, divided as it now is into two sections, bitting in
Canada and in London. The functions of the latter body
are very limited, and while they appear to impose responsi-
bility, do not afford any power of effectual control. It may
be absolutelynecessarythat the English shareholders should
be more effectually represented at the Canadaßoard, and
that the representative should be invested with power to
act for their interests there. The directors are informed
that it is the intention of the Canadian Government to
propose t<2 Parliament an alteration in the constitution of
the board by withdrawing their directorsand substituting
a commissioner unconnected with the Executive Govern-
ment." He thought, that being the case, it would be
unfair to fetter the directors by passing any resolu-
tion on the subject.
In reply to a Shareholder,
The CHAIRMAN said the directors were desirous to act
in harmony with the Great Western Railway of Canada,
if possible. It was not true that any difference existed
between them.

The motion for the adoption of the report was then
put from the chair and agreed to unanimously.
The following are the resolutions which are to be sub-
mitted to the general meeting to be held during the pre-
sent autumn in Canada :

" That the company accept the act of the last session of
the Provincial Parliament of Canada, leaving the directors
to urge such modifications upon the Government of Canada
as they consider expedient.
" That the sum of two millions of preferential capital,
authorised by the said act, be raised by the issue thereun-
der of preferential bonds of the company to that amount,
each bond to be for 1001. sterling, and to bear interest at
six per cent., and to be repayabl in 25 years, such bonds
to be offered, in the first instance, to the shareholders in
proportion to their respective shares, and any not taken
up by tho shareholders to be sold by the directors in such
manner and at such prices as they shall from time to time
determine. •

•
"That the additional agreement with the English con-
tractors, and the further agreement with the Atlantic and
St. Lawrence Railway Company, under which additional
shares9f that company to the extent of 140,9381. 17s. id.,
have been issued to this company, be and the same are
hereby approved.
" That the resolution of the directors dated the 20th
day of August, 1850, for increasing under the authority of
the Graud Trunk Railway Act, 1854, the capital of the
company by the sum of 500,0001., be, and the same i It
hereby approved, and that the directors be, and they are
hereby authorised to raise that sum, or so much thereof as
may be required from time to time for the purposes of
the company, by bonds of the company, to be called C
Bonds, and that each bond be for 1001. sterling, and bear
interest at the rate of 6/. per cent., and be repayable in 25
years, and that such bonds be issued by the directors upon
such terms and conditions, and at such premium or dis-
count, and to such persons as they shall, from time to
time, direct and determine."

---------
The proceedings terminated with a vote of thanks to
he chairman.

BRIDPO RT.
The report of the directors of this company, just issued,
states that " The directors hope the line will be ready
for opening in the spring. Since the last half-yearly
meeting the directors have deemed it desirable to exer-
cise the powers which were then given them by the share-
holders to borrow money on mortgage of the company's
property, and have accordingly done so to the extent of
15,600/., the greater part of which they have obtained
at 4f per Wired and none bee been borrowed at