The Sun.
London, England, 1851-10-08 00:00:00

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STOPPAGE OF TWO BANKS
(FROM OUR CORRESPONDENT )
.-Nr!..I7POP.T; AIOAM'itTLISUIRE, OCT. 7.
The appearance of the money article in this morn-
ing's Sun, cf the announcement that the bills of our
chief local bank (the Monmouth and Glamorganshire
Joint-Stock Bank) had been refused payment by the
London Coraue.rcial Bank, has caused a panic here
never before witnessed in Newport, where a similar
transaction had never been heard of previously.
The uncertainty that existed in the public mind as
to whether payments would continue to be made by
the bank this morning, was very great during the
period intervening between the arrival of The Sun
and the opening hour at bank. A large crowd of per-
sons, eager to withdraw their credits, crowded around
the door long before ten o'clock, and the most alarm-
ing reports prevailed. At length, as the hour of ten
drew near, a notice was fixed on the doors and in the
Windows of the bank, announcing that "in con-
sequence of the recent depression in the iron
trade, and the withdrawal of support hitherto
received, the managers were obliged to suspend
Payments for a short time, but hoped to resume
business in a few days." This was calculated to in-
crease suspicions instead of allaying them, as it was
accompanied by a very general rumour that the lia-
bilities were heavy, the sum of 200,0001. having been
recently drawn out for the iron works, among which
avich Wereh the
C wm
Brane Iron Works, at the head of
is R. J. Blewitt, Esq., the M.P. for these bo-
roughs,
and one of the proprietors of the bank. Of
course
exaggeration was rife. There are, however,
the most serious apprehensions entertained in the,
I,,netary circles that " the worst is not yet known.'
'.uileY of the shareholders have invested their little ail
alsona the bank, and their fears are very great. Many,
6' who had credits in small amounts—considerable,
h-we;vert to them—are under the most anxious appre-
ensions. The benefit societies of the town and
ghbourhood have made large deposits in the bank,
and t
among those societies the unenrolied bodies,
ter
der bi odd Fellows, were depositors to a very consi-
a 'e amount—about 4,0001. it is said. These de-
positors have not the claim that enrolled societies have
in the case of suspended payments of a bank; all the
poor men who are the members are thus, it is feared,
Ina very
unfortunate position ; though it should be
reremembered that the proprietary—a large and influ-
er4tial hod Y—are well able to pay, and must pay all
lities of the bank whatsoever.
SOOO after the notice alluded to had been put up at
the Monmouth and Glamorgan Bank, the doors of
tessrs• Williams's old bank in this town were also
the
closed, and a notice affixed to the door that payments
suspended in consequence of the suspension of
e Monmouth and Glamorgan Bank.
This was a prudent step, doubtless; but it tended
to increase
the panic already existing, though the fears
in regard to the old bank were fortunately but very
belall, though of a different character (it being a private
ar,l.) to those respecting the other.
The streets have been filled by groups of mercantile
,4,1_10. professional men all the day, all of whom evince
u'e deepest concern. When we mention that the
m
_ gest commercial interests in the place, the Mon-
rie uthshire Railway and Canal Company, the facto-
,„_so and several companies bank with the Mon-
eupaoottiethitstnedxtGrenlasinaveo.rgan, it will readily be supposed the
;. We hope to be able to report more favourably than
apprehended at present, in the course of a day or two.
District
third bank in town, the crisis of England
"let Bank, is unaffected by the .

--- - -
ronic/ f To
G.
F.
YOUNG, ESQ., M.P.
4nt
!ale ,—I have read your letter in the Mornirg
Thursday list. It put me in mind of
a told of a sturdy mendicant, who, when sternly
l'aeusecl
bV 4 gentleman, turned away, and despairingly
8414' °h my God, then I must." " Must what,"
said the alarmed gentleman.
lords 13
Y.
" Go to work," was
ro,lithiey
the re
rnAunstdgsoo
tmouwstoyrkou. r. dear friends, the land-
about have given us something from Adam Smith
that a reht, profit, and wages, but you must know
of Smith else has come out since the days
stud;""°) which it would be well for you to
to e'l„11, 44d Study deeply, before you ask for a law
says -"lnce rent. J have a look at what Mill
about u"' Audrent.
12146°,0,1:15* well, too, at the progress America is
tithe v 5,14 ships, railroads, &c., &c., and reflect on the
Prod We may be left far behind, supposing the
action f e°l3Buci this great country should be wastefully
lark ad by protected rent-holders. Suppose you
throu'n°
vh and trace 100000/. spent by rent-holders
1111111%1"ot 84:vteillai,a1 enhancement of price, and that same
by the people through natural price—
Pc°Ple sp teat-hold
spends it on horses, carriages, &c., the
t case Th it
...°_ll railroads, ships, houses, &c. In the
, second "ukey may be said to be annihilated. In
utieton. "eeoraes an agent of strength and repro-
IVI 8*
Denthold ir) were our savings to be paid over to the
boner,
'"4 by him wasted on luxuries, instead
twentyg, saved
and put to reproductive purposes, in
A_ . dears werica. time England would have had to bow to
cay „ bone and sinew of England had began to d. e-
Rau 17uer protection, her peasants were becoming
t. Peel and savage, and had not the late lamented Sir
bad eel stepped in
, to the rescue, her decline and fall
pleee7lti been distant. But a great change has taken
tiler .euange which will for a time act on the far-
until his rent approximates somewhere to the con-
tinental, standard, which sooner or later it must do,
iemeu, the information given in your letter on that sub-
dt; naaY be found valuable when shorn of its excep.
4011s1 features
Ia co • •
nclusion, I beg leave to inform you that the rent-
! Icier% for many centuries have had it all their own
waY ; they hid their land on certain conditions, which
conditions they have from time to time altered always
la their own favour, so, perhaps, it would be better for
You to leave well alone ; at all events, before you come
11130 n me for some of my little savings to give to the
rent-holder, the whole subject must.be fully looked into.
I am, Sir, &c.,
A TIN PLATE WORKER.
London, Oct. 4, 1851.

INAUGURATION OF A STATUE TO
WILLIAM THE CONQUEROR.

TO THE EDITOR OF THE SUN.
SlR,—While travelling lately in Normandy, j
learned that a celebration was to come off at Falaise,
Which will possess considerable interest to the English
Falaise, a town of some 10,000 inhabitants,
situated about twenty-one English miles south of
Caen, is the birth-place of William the Conqueror,
and there, in front of the Hotel de Ville, on Tues.
„44Y, Oct. 14th, the anniversary of the battle of
ttastings an equestrian statue to the first Norman
(ing of 'England, just finished by a Parisian artist,
is to be erected and inaugurated. Great preparations
141:e made at Falaise for a splendid file. The castle
bt the Dukes of Normandy—where William was
',f,,a—covering about four acres, with the lofty
e
e'llibot Tower," erected by Earl Talbot in the 15th
n.,'hrY, now stands a magnificent monument of the
ha
and an object of great interest to visitors. The
e;14:111-work of the Talbot Tower I have not seen
mention by any' building in Great Britain. I will
reaeh that, when the traveller is at Havre, be can
aeu
ditigene oy steamer in about four hours, where
Caen, tun to Falaise several times a day. At
Place, tlire William and his Queen find a resting-
arelifteetuKre more splendid samples of Norman
‘ua.ll in any city in Europe.
I am, Sir, yours, &c.,
Londonl (N vAet.N. AMERICAN TRAVELLER.
4.

N CAT4O 1.1 ACLES.—We
LIC 1 IR
Prepared to
Catholic miracles, as soon as
Asr.B(inahill is taughtse© believeDr, the
to keep in his head a respectful tongue.
poor Irish Roman,, Catholic priests cease instigating
wicked gainst England, and impressing them with the
povertvu'ti.on, that England is the. source of all their
ese ed- in woes. As soon as Cardinal Wiseman has. sue-
Abbeyd which
- al rgating the "little Paradise" round Westminster
he talked so boastingly about in his ad-
thete"' As snen as the Pope practises in all his actions
extreme benevolence he professes in all his words; and,
as the first proof of it, releases the hundreds of poor priso-
ners now to for political offences in the dungeons of
Pins
and As sot.' as the Pope allows an English
~.athedral to Rebuilt in then centre of Rome, as we allow a
V-Koolau cathedral to be built in the middle of London. As
0°1,114,438 tile French soldiers are driven out of Rome, and the
the h hod Y-guard consists of none but Romans. As soon as
pictures that Ai better . -
a oy..e eYtraordinary eveuts are accomplish.ed we sha l be
,a spared
to believe anv impossibility in the way of
insniereaze, or anything
"1,, or statue's that bleed, or cabbages that
else they please; for nothing short of a
ele eau bring 'utterly
are accornplistisd, we will
improbable,
to pass the accomplishment of events so
if notperfectly impossible. When they
We must
stubborn believers in Roman Catholic miracles ; hut then
romise to be amongst the most
ilcredulit
bye......all_ouwnediithe healthy privilege of a little rational
S
P c .
kr ,„,GIMATI ACCIDENT TO Ma. BATTY'S CLOWN..--
tr,.: - Tut', Who is well known 55 the clown at Mr. Batty's
,w;:knuroine, at Kensington, met with an accident yesterday
que"" might have been attended with very serious conse-
te- t re3' It aPpears that after ono of the performances he
r, la an omnibus to take him to his residence, near Isling-
liu and ss the vehicle a p ssing along Oxford-street it
,o
lotoihnto: ruck in the rowad,san-tai in. the violent cop.,' n Mr.
cesi.". w s V.tc off into the street. He c .rnplamle-dloof -
live p,
where
in in his
Pital arm, and was taken to the Charing-cross
disl )eutse
the b he Was seen and attended to by Mr. Dalton,
surgeon, who found one of his wrists frightfully
lie „„ed bY the fall. All the aid of surgical skill was ap-
Flnstl37;e dkjointed bone set ; but it is probable Mr.
It 'would:, 5 unable to follovr his avocation for some time.
thesea_ye better if pavements were in such a state that
".`aclets were liable to happen.
arrived i
NuvE„L mPo:ToAtTlON.—Yesterday the Diana
Rt,,,jau : the river, from St. I'etersburgh, with a cargo of
irap ,rtavansages, ox and reindeer tongues. This is the first
the 4..._ 401 Itussiati sausages that has taken place, and
VT RV ' •
e - la viewed with ihucu curiosity.