The Sun.
London, England, 1834-08-23 00:00:00

being deceived ; and also bee.iiise I perceive that the wild
scheme Of -what is called " the Commercial *and Agricultural
Bank," holds out a promise of limiting the liability of share-
holders. As a lawyer and an horiestman; lam bound to de-
nounce that delusion—the partnership as between the partners
themselves may be dissolved by losses to a particular amount,
but as between the partners and the public the liability neces-
sarily continues for all the notes and engagements to be issued
before actual and public dissolution of the partnership.
" The mode of our acting will be to confine such liability to
each local branch in all its engagements. Whatever amount
shall be subcribed in each locality, a similar amount of; credit
will be given by the London branch, they doubling the - re-
sources of each branch. There will, therefore, be a partner-
ship between each local branch and the London branch ; but
none between the local branches themselves. The London
establishment will superintend all, but will have separate and
distinct partnership with each, but without involVing any part-
nership between each branch.
" The plan includes perpetual supervision—once a month
the affairs of each branch will be investigated, and more than
one month's mismanagement rendered impossible. It will be
necessary to render the expenses of each local branch as light
as possible.

‘‘ I will not consent to bring the plan into operation in Ire-
and, until the million is subscribed in Ireland ; as the branches
extend the subscription in London will be extended to. any
amount that may be subscribed in Ireland. I trust I shall see
a Branch Bank in every town in Ireland, giving cash credits
and. facilities of capital, wherever security against loss can be
obtained, and a reasonable interest by way of profit on the
advances.
" In short, you will explain the grounds of solid security
on which we are to act. The success of the Provincial Bank
proves the facility with which another Bank, conducted with the
same care—managed upon the same mercantile principles, and
sustained by twice, nay four times the amount of capital, may
prosper to the profit of the shareholders, and the great utility
of the Irish public.
" So much of confidence has been reposed in me that I feel
it a duty, though,a painful one, to caution all those who may
deem my advice instructive, against 'embarking in the wild
scheme of the " Commercial and Agricultural Bank"—a
scheme, in my judgment, containing in itself the seeds of
destruction, without any guarantee for general good manage-
ment, and without any security whatsoever against a panic, or
general demand for cash, in exchange for its notes.
" There are many points on which I should wish to warn
the public against that scheme. But none more decisive than
the delusion held out upon the point of limiting the liability of
shareholders. The men are honest who hold out this delusion,
because they are themselves deceived, and_ I see in the news-
papers names of persons of the highest personal integrity thus
deceived. But after all, dO they reflect that' if they should
shift off the responsibility for losses from themselves, thcy
would throw those losses on the public ? In other words, they
would 'rob the public to the extent of such losses. I trust you
will go from place to place to explain these matters fully. You
may pledge yourself that we will not.be gin our banking opera-
tions until we have secured the public as well as the share-
holders from eventual loss. Procure subscribers for these pur-
poses without delay.
" Believe me to be, yours very faithfully,
" DANIEL O'CONNELL.
" John Reynolds, Esq., Secretary and
Agent to the National Bank."
Having read this letter, and explained to you, (said Mr.
R.) the principles on which it is intanded to establish this
National Bank, it is for the persons present to decide how
they will act. If they think the advantages likely to result
from it will be beneficial to themselves and the country,
which I think they will, they can now appoint a committee,
with power to add to their numbers, for the purpose of com-
mencing the formation of a branch of it in this city.
The CHAIRMAN said he would briefly explain his reasons
why he thought it his duty to attend the meeting ; he
thought it the more necessary as he was not one, as the
meeting was aware, who was in the habit of speculating in
money matters. It was his firm conviction that there was
a wide field open for the new Banking Company, as the cir-
culating medium in Ireland was entirely too narrow and
limited ; to prove which the Hon. Gentleman adduced
several instances. He then dwelt on the mischievous effects
of Peel's Currency Act of 1819, which he designated as
of the most injurious tendency to the landed, commercial,
and labouring classes of this country, and which was
brought about by one of the foulest and most abomi-
nable Acts that ever passed the Legislature. He next ad-
duced Scotland's thriving condition as. proof of the advan-
tages of extending banking accommodation upon a firm and
safe basis : he also alluded to the advantage Ireland possessed
over England, in being able to extend its circulwing me-
dium by one-pound notes. After some further observa-
tions on the great benefits likely to result from the in-
tended bank, to this country generally, he hoped all allu-
sion to other banking establishments would be avoided by
my gentleman who might address the meeting. There is
room enough (said Mr. B.) for us all—the principal ob-
ject should be to unite all parties, and he hoped every man
present, and the people at large in this country, would lend
their aid to promote the common good which is likely to re-
sult from the establishment of a bank on the principles of
the one now under diScussion.
Mr. W. AYLWARD wished to know who were the ori-
ginators of the bank. He saw the names of eleven Mem-
bers of Parliament on the list of Directors, and he did not
know whether they were men of business or not, or whether
they had succeeded to their wealth by business.
Mr. REYNOLDS, in reply, said that some of them were
bankers and brewers. He felt no hesitation in say-
ing that no project could be got up by persons of
more respectability than those he had alluded to ;
and it may be very readily believed that those gen-
tlemen would not embark their properties and character
in the undertaking until they were fully satisfied and
convinced of its ultimate success. With respect to the
ohservations relative to existing banks, he did not see why
there should be such delicacy in curtailing their profit, or
snaking any fair remarks on them ; those banks had no
right to hold exclusively the purse-strings of the nation.—
(Hear, hear.) Previous to Mr. O'Connell giving his sanc-
tion to this gigantic project, he inquired whether he was in
" good company," and he required that security should be
Oven in, the sum of 1,000,000 before he recommended the
plan to the people over whom he exercised such considerabh
control.

A conversation then ensued, in which Mr. Alexander
Sherlock, Mr. Nugent O'Reilly, Mr. T. F. Carroll, Mr.
Smithwick, of Kilkenny, the Chairman, and other gentle-

men took part. A series of resolutions, which will be

found in our advertising columns, were then passed
unanimously ; a committee, with power to add to their
numbers, was appointed, after which, Mr. Barron having
vacated the chair, Alexander Sherlock, Esq., was called
thereto, and the thanks of the meeting returned to Mr.
Barron for his very proper and impartial conduct in the
chair.
The gentlemen assembled then separated.

A MODERATE MAN.—The following is submitted
as a bill of fare for the evening, for a gentleman with a light
appetite :—Soles fried, of a fine dry sandy colour, and altoge-
ther innocent in appearance of filthy grease ; sherry ; lamb
chops and stewcd gherkins ; sherry ; a pullet grilled with
mushrooms ; sherry ; sweetbreads plain boiled ; sherry ' • an
omelette soufilie ; sherry. Stilton or Cheshire ; Devonshire
scaldcream butter ; celery ; under crust, and port. Nuts or
biscuits; a devilkin made of the pullet's gizzard ; port; port;
port—quantum sufficit. Coffee with a dash of eau-de-vie
evening papers ; theatre ; stroll ; supper ; namely, oysters in
their shells, boiled in vinegar ; lobsters ; Welsh rabbit, well
seasoned, and Whitbread's bottled stout. Cigars ; night-
gown and slippers ; punch ; bed.—Hull Observer.

One "of the new deputies, a rude and ru3tic per-
sonage, known by the name of Pere Martineau, or Ours Mar-
tineau, dined at the Tuileries. Ever and anon a dapper do-
mestic presented him with a plateful, and the good deputy,
deeming himself bound in politeness to swallow all, ate till he
could hold no longer. At the next plateful he turned and ad-
(lrssed the servant, " Monsieur Mignon, I never eat but of
One dish at niy dinner, yet you are not contented with forcing
meZto swallow a hundred." The reply caused much amuse-
ment at the royal table.—Paris Paper.
Since July 29 not a drop of rain had fallen at Paris
till last evening, when a shower of extraordinary duration and
violence fell upon the capital and inundated several quarters.
At the Pointe St. Eustache, and in the Rue Montmartre as
far the Passage du Saumon, the water rose so high, that it
entered into the othnibuses, and the dogs were swimming in
the streets, and in the houses it was two feet deep. The
mouths of sewers were blocked up by the straw and other
matter borne down by the torrent, and when they were un-
unstopped, it took two hours to carry off the water.—Paris
Paper of Thursday:

MouNT VESUVIUS. Intelligence from Naples,
dated the 29th ult., states that " the volcanic eruption from
Mount Vesuvius, which had continued uninterruptedly till the
24th, had not recurred, and it was consequently presumed to
be quite at an end. In the morning of the 18th instant, two
new and small craters, which had formed on the sides of the
larger ones,• sent forth volumes of ashes and stones. In tho
evening, after a tremendous earthquake upon the mountains,
four discharges of lava took place from the old crater, in front
of Torre del Greco. 'lbis was followed by immense columns
of smoke and fire from the larger orifice, which enveloped the
whole country in impenatrable darkness. In the afternoon of •
the 19th, three new streams broke out from the old crater,
while the former ones continued to pour forth their liquid
torrents for a mile in length. In the old crater two canals were
formed, from which volcanic matter poured like water. At
seven in the evening the lava ceased to flow, but immense
discharges of ashes, fire, and stones continued. On the 20th,
the columns of smoke darkened the air all around; towards
midnight, after an interval of repose, the lava again burst
forth from no less than fourteen different openings, In the
midst of terrific roars, immense masses of fire, stones and
water were ejected, and the bright full moon became
invisible. On the 21st, at two in the morning, these pheno-
mena had al most cobefarostaektidonee,eofibuoutwtrartottm-oeNi.enhrythse.idlaef.ternionotnheeigehytennien.Tv
edge of the largeri crater fell in, h 3;
the .'
12:odse.2fila:dIsctcollitilnia'sertt':doi leaeaays:oaartifi;pciciciaaep:latastbee.cdc. the return ofl the other
widened nearly 200 feet. On the
decline, and onterpaenom ena began to
following day the agitated Vesuvius gam)
once more enjoys," tranquillity,which it now