The Sun.
London, England, 1834-12-08 00:00:00

NEW YORK PAPERS.

We received last night via Liverpool, New York Papers to
the 19th ult. inclusive. The result of the elections has given
a majority to President Jackson for the ensuing Congress.
The Secretary of the Treasury has issued his circular to the
collectors of the customs and all receivers of public money,
directing them no longer to receive the branch drafts of the
United States Bank. We give below' some interesting ex-
tracts relative to American currency from these journals:—
"BRANCH DRAFTS.—The Secretary of the Treasury has
issued his circular to the collectors, directing them no longer
to receive the branch drafts. These drafts are in the form,
and intended to answer the purpose of, small notes, though
drawn at the branches, and payable at the mother bank.
The Globe says the amount of these drafts now in circulation
is about 7,000,000 dollars. The right of the bank to issue
them has been a subject of considerable discussion, but has
been sustained by the opinions of several of the first lawyers
of the country. They were were issued, we believe, only be-
cause it was fonnd impossible for the President and
Cashier of the mother bank to sign bills enough to sup-
ply,the demands of the public. The Globe seems to think
that the refusal of the Government to take these drafts
longer will require the bank to pay them up. If it were so,
the time chosen for the measure, just before the meeting of
Congress, would be the very worst possible ; fer the angry
feeling which it will create, and the angry discussion which
that feeling would engender, would do mischief in the Money
Market, if any such mischief were possible. This mischief
would however not restrain General Jackson from any measure
of hostility to the Bank. The merchants would in that case,
we have no doubt, see to it, that the measure would be so
treated as to produce as little mischief as possible. But we
have before said,- and say still, and we believe this is the uni-
versal opinion of those most friendly to the Bank, that the re-
fusal to receive those draughts for payments due to the Govern-
ment will have the effect to keep them afloat rather than bring
them in for payment. While they have been received, they
have at once been paid at all the branches, and we do not see
what other effect the refusal of them can have but to retard
their being presented for payment. At any rate the Bank has
means in hand to redeem its whole circulation, now less than
sixteen millions, any day. But there is no probability that in
any way the amount of its circulation will be materially re-
duced until the Bank itself shall cease to issue its notes. These
notes are so convenient to the people, that. if the " drafts"
should all be paid, other notes would be called for to supply
their_ place, and so the Bank remain unaffected.
" NEW YORK, NOV. 19.—MONEY AND EXCHANGES.—BiIIs
on Europe delined in price. The rate on London was 7 prem.,
and on Paris bf 224-c., dull. Money is extremely plenty, and
large sums remain idle for want of borrowers.
" Business generally is in a vigorous state. The stocks of
merchandise are light, and the demand good."

It is expected that General the Duke of Gordon will
not be Gazetted to the Colonelcy of the Scots Fusileer Guards
until after the interment of his late Royal Highness the Duke
of Gloucester. It was his Grace who succeeded the late Duke
of Kent in the command of his present regiment, the Ist Royal
Scots.

The Earl and Countess Brownlow left Belgrave-
square on Friday, for Belton House, near Lincoln, where they
will see much company during the approaching festive season.
His Lordship's second son, the Hon. Charles Henry Cust, has
joined the Royal Horse Guards, Blue, as Cornet. Viscount
Alford, it is saidi will be a candidate for South Lincolnshire
whenever there is a dissolution.

Earl Grey's fourth son, the Hon. Captain Grey, is
gone on a visit to his noble father, at Howick. The gallant
officer has just been
.promoted to the rank of Post Captain,
after four years' foreign service in the Mediterranean, during
part of which period he commanded the Scylla sloop. The
Hon. Lieutenant-Colonel Grey, M. P., has left Howick to re-
sume the command of the 71st Highlanders.
Mr. Byng, the Member for Middlesex, has been
prevented from attending any of the late public meetings, by a
defect of sight, amounting almost to total blindness.
Mr. Arthur O'Connor has addressed a letter to the
editor of the Cork Southern Reporter, in which, alluding to
a report that he had received an arbitrary letter from the Duke
of Wellington, commanding him to quit Ireland forthwith, he
says, " I have received no letter from the Duke of Welling-
ton, nor from any one at present in office ; nor is the one
which I did receive, acquainting me with the view which the
Duke of Wellington, under the opinion of those with whom he
considered it proper to advise, nor that in which his Grace con-
veyed what that opinion was to the personage who applied for
an extension of time for me to remain in this country, for the
sole purpose for which I have come to it—to adjust private
business—couched in terms to which the language alluded to
is at all applicable."

THE SUN, LONDON, MONDAY, DECEMBER 8, 1834.