The Sun.
London, England, 1851-03-24 00:00:00

1311inte

OF A SOW.
On the 19th inst., the wife of Charles Ring, Esq., 0
Doctors'- commons.
On the 19th inst., at Willow-cottages, Canonbury, lirrs•
Charles .1. Blackith.
OF A DAUGHTER.
On the 29th inst., at Waltharastow, the wife of Albert
Pelly. Esq.

MARRIED.
'B, Hammersmith, Mr*
EdOinn
Percy-lodge, New-road, Hammersmith, to
Edwin Bryant,
inst., at St. Stephen
Susanna, youngest daughter of the late Arthur Fry, FA"
surgeon to the Royal Marines.

DIRE) _
On the 15th inst., at Newton Manor-house, Sari
On the 15th inst., in Charles-street, Berkeley-square, Miss
Chawner,
Byng, sister of the late George Byng, Esq., M.P., and of the
Earl of Strafford.
Esq , aged 86.
On the 19th inst., Thomas Moss, Esq., of Leonard-place'
Kensington, aged 64.

of
London: Printed and Published by MURDO a
No. 112, Strand, Printer, r.t the Sun Office, 1'.4.°• •
Strand, in the Precinct of the Savoy, in the coital °
Atiddieeax, Monday, March 24, 1851.

. • /
. . ,
~
...
1.,10
T,, BANK. OF ENGLAND, MARCO 20, 1851.
RE Governors and Company of the Bank of Eng- 4...,
• :.,.....
land give notice, e• ee•
jeal the General Court held at the Bank, this day, is AD- .e 4,: 1
"""PiNED till TUESDAY next, the 25th instant, ac Eleven o'clock
r,, the Forenoon, for the purpose of taking the determination by vote, 4-tito. ✓/ .
v
,„" Print Sr writing, of the question on the following resolution pro- lf'!'t,'',',-Y/
r vcista at, the Court for a Dividend, viz.:
f That a Dividend be made of 41. per cent., out of interest and pro-
ds lion the half-year ending the 28th February last, without any de-
,,, on account of the income-tax.
—____ ~_
_____ _
____•_____
The Voting will commence at Eleven o'clock and terminate at Four.
JOHN BENTLEY, Secretary. N.,,
v. 18,25 ]
- 0 4. LONDOT
THE GREAT NORTHERN RAILWAY.
COAL TRAFFIC. — -- .
.. . . ~._., . - .
thllle Directors of the Great Northern Railway hereby rive notice .
IFS
Mr. COLES CHILD has been appoined SOLE AGENT for the
NATIONAL LOAN FUND LIFE AND
I'4 of the Silkstene, Thorneliffe, I3secar, Barn.sley, and Worsbro'
EQUITABLE FIRE INSURANCE COMPANIES
41,1 deposited at the King's-cross station. 26, CORNHILL, LONDON.
rJ. R. MOWATT,
By Order,DIRECTORS.
8 oCretary's Office, King's-cross Station, Secretary.
London 20th March, 1851. t*T. LAMIE MURRAY, Esq., Chairman.
--___________ , *W. A. B. Bennett, Esq. *John Ranson, Esq.
,
I THE GREAT NORTHERN RAILWAY. *Hugh Croft, Esq. *John Shaw, 'sq.
tElliotson, M.D„ F.R.S.
1 COALS FKOM YORKSHIRE. f*Edmund S. Symps, Esq.
f The p
os. roprletors ef the Sillfstone, Thorneliffe, Elsecar, Barnsley, *Ralph Gough, Esq.
M. C. Maher, Esq. t*Clement Tabor, Esq.
th orsbro' Collieries, having completed their arrangements witht Joseph Thompson, Esq.
*John Moss, Esq.
Great Northern Railway Company for the regular carriage of t*Augustus Vigne, Esq•
e their,„Coals to London, the undersigned has been appointed their AUDITOR.
0 IC', Metrolitan Agent for • the Sale of Coale COTlSigilni to the t Professor Wheatstone, F.R.S.
.. pi." 'S Cross Station; and from and after the 24:h instant, will he NITSICIAST.
1 . 414*red to supply the Public at the following prices, viz.:— V. Elliotson, lil.D„ F.R.S„ 37, Conduit-street.
Into carts Delivered within SURSI:ON.
P at 5 miles in sacks t'E. S. Symes, Esq., 77, Grosvenor-street, Grosvenor-square.
1 Illiii • King's Cross. or in bulk.ACTUARY.
. EL...Li-Class House Coals.. 14s. 6cl .. 175.1 Beyond 5 miles 6d. per t'W. S. B. Woolhouse, Esq., F.R.A.S., St.e.
II rid Clase ditto • . 13,1.6,1. .. 16s. j ton per mile extra. SECRETARY.
r ' "rollagere may send their own waggons and sacks.
Cut, *D. T. Lyons Clanchy, Esq.
1 ,r,--.1 to he paid on giving the order, or on delivery. SUPERINTENDENT.
h "tie Coals are the produce of the best pits in the South York-
k it *W. A. Hawkins, Esq.
I, *.coal field. They are of good quality and large size; and RANIER&
0 N
kt, Waded from the same waggons which originally receive them t'Messrs. Glyn, Hallifax, Mills, and Co., 67, Lombard-street.
the collieries, they are delivered to the consumer in excellent eon- . SOLICITORS,
m
) .... la. tMessrs. Sutton, Ewens, Ommanney and Prudence, 6, Baslnghall-
CCOLES CHILD, Sole Agent. street.
• Coal Denartment, King's-cross Station, *W. Tatham, Esq., 22, Throgmorton-street.
1 - London, 20th March, 1851. NATIONAL LOAN FUND LIFB OFFICE.
. • CAPITAL-500,0001.
e • t LECTRO BIOLOGY. The WITHDRAWAL TABLE of the Society affords to the As-
o 1,,,, Mr. G. W. STONE begs leave to announce that he has as- sured greatest possible present and prospective advantages that
tiv'a'ed with Dr. DARLING, who has been eminently successful in can he clotferred by Life Assurance. On this Table the Assured is
••
l, tl,',lC Lectures and Experiments in Scotland and Irelaed, upon entitled, at any time, to receive at interest an immediate advance,
len`ro Biology, and that the Lectures and Exhibitions at the Maryle- to the extent of one-half the amount of the paid animal Premiums,
o t"., Literary and Scientitio Institution will hereafter be conducted without security, personal liability, or deposit of the Polley, but by
d thenl conjointly. simple endorsement , thereon ; or the half Premium may be with-
1. . See the following Advertisement. held during the whole comtinuanee of the Policy. Also, in the
ELECTRO BIOLOGY. event of the Assured at any time not requiring to continue the
kr
tn,,• —a• W. STONE and Dr. 11. G. DARLING have the honour to Policy, on its surrender one-half of the annual payments will be
stiminee that Lectures and interesting Experiments in the above returned by the Society.
I, 4,,"0e will be given by them at the Marylebone Literary and Scien- Lapsed Policies may be renewed without fine, on proof of health
2 k ' Institution, 17, Edward-street, Portman-square, on Tuesday, and payment of arrears of Premium without interest.
4,,4,0128, Wednesday, 26, and Saturday, 29 ; and to prevent inter- Notices of Assignment of Policies registered and acknowledged,
ti.' ion in the experiments, the doors will be closed at Half-past so as to make them available as securities Ia the hands of
I, Precisely.—Doors open MEW-past Seven, commence at Eight. third parties. . -
t Admission, Is, ; Reserved Scats, as. Na Entrance Fees or any other charge beyond the Policy Stamp.
e .....____ The present naual income of the Society from Premiums is
6
Q.OOD WINE.—GEORGE ONWHYN, 3, Ca- ,31'137
A;ol.t.rmanar
theo t amount
reserved
e s coveredrve r byi t the
roPolicies
est
to frniber Societyb is
fr , therine-str, Strand, is now offering pure PORT WINE, the Assured., amounts to 112,4141°. Si. applicable
At the last to'ainenuaolniusnves-
.. gt:4l. bottled, but fit for immediate drinking, at 30s. per dozen. tigation, reported in May, 1850, the bonuses declared to the As-
,,. ao:rrY, a genuine wholesome wine, recommended for invalids, at sured were, the option of a return of 15 per cent. ou their Premiums
it" Per dozen, and old bottled Port at 36a. per dozen. Warranted in cash, or a reversioeary addition to the original salt assured by
,
in,etch instance free from Cape or admixture. The stock open for each Policy varying from 20 to 65 per cent.
-°Peotto EXAMPLES OF BONUSES ALREADY DECLARED.
1 -.....„„ n•
Parma-
---
NOTICE. •
.1 .4 Annual Policy, Bonus In _
le
HE ROYAL POLYTECHNIC INSTITU-
Age. g., k 4, . Pre- taken Bonus in d
addition vent Re-
uetion of
t, TION will be Closed on the 29th instant,
71 to be Re-opened on 7, g minx. out in' to Sum Cash. Annual
~,mster Monday. Depositors are respectfully Invited to forward their Premium.
tdi.ri3 before the 12th April, that they may be numbered in the Newl Assured.
;011 of the Catalogue, free of expense. 1 Xs. d. X s (1. A
s. 0.
Lush
le kt,etli the 29th instant the Lectures on Science, including Music, - 1837 ; 292 6 9 139 16 9 22 13 1
c' 4114 the usual Exhibitions will be continued, 1 Mornings and 1838 267 11 4 126 17 2 19 19 7
,
!kings, 1839 241 18 6 113 17 7 17 8 8
if ......__ R. I. LONGBOTTOM, Secretary. X,E B.d. 1840 193 12 6 93 16 8 14 010
_____,.........- 10 11000 74 34i 1841 119 12 6 89 510 13 tll
il
1 LAITRENT'S GRAND CASINO, 1842 162 16 8 76 18 4 11 8 3
Licensed by Act of Parliament. 1843 flitlo 10 85 10 10 81 10
~ A RGYLL ROOMS GREAT WINDMILL- 1844 77 19 2 38 15 10 59 11
.. 1845 66 15 0 44 10 0 4 10 1

OFFICIA.L CATALOGUE OFFICE, 29,
New Bridge-street, Blitekfriars, and at the Exhibition Build-
ing, Hyde•park.
NOTlCE.—Advertisements intended for the First Edition of a
Quarter of a Million of the Small Catalogue, as also for the First
Editions of the Illustrated, the German, and French Catalogues,
should be tent in imaudiately, in order that they may be clasiiitic.d
and printed forthwith.

I. Insurance Offices.
2. Literatiire and the Fine .irts.
J. New Inventions.
4. Agricultural Machines and Im-
plements.
5. House . Agency—Hotels, Ta-
verns, and Lodging-houses.
SPICER BROTHERS,WhoIesaIe
CLOWES and SONS, Printers,

6. Places of Public Amuse-
ment.
7. Rail way and Steam-boat ar-
rangements.
8. Classification of Trades and
Miscellaneous.
,tatloners 1 Joint Contractors to the
Royal Commission.

ONR-VOLUME EDITION OF. MR. MACAITLArS ESSAYS.
A New Edition, In square crown 8?o., uniform with Southey's "Doc-
tor " and " Commonplace Books,' with Portrait by Eddis, en-
graved by Greatbach,and Vignette, price One Guinea, cloth; or 30s.
hound in calf by Ilayday,

CRITICAL and HISTORICAL ESSAYS con-
tributed to the Edinburgk Review. By THOMAS BA-
BINGTON MACAULAY. A New Edition, complete in One
Volume.

*** Also, an Edition (the 6th) in 3 Tole., Bvo., price 36e. cloth.
Landon : Longman, Brown, Green, and Longmans.

THE LONDON GAZETTE, larch 21.
DIVIDENDS.
At the Court, Basinghall•street.
R. Gadsden, Boughton Mills, Northamptonshire,
miller, April 11, at half•past one—A. Black, Wellington-
strett North, Covent-garden, bookseller, April 11, at
eleven—T. Dalby, Hythe, Kent, builder, April 11, at
one—W. Keeping, East-street, Wal worth, common
brewer, April 11, at eleven—C. W. Macbryde, Watling-
street, City, wine merchant, April 11, at twelve.
In the Country.

J. Ings, Henley-in-Arden, Warwickshire, surgeon,
April 14, at eleven, at the Court, Birmingham—C.
Crudgington, Tipton, Staffordshire, ironmaster, April 14,
at ten, at the Court, Birmingham—J. Smith, Rugeley,
Staffordshire, money-scrivener, April 14, at ten at the
Court, Birmingham—S. Amos, Hanley, Staffordshire,
scrivener, April 26, at eleven, at the Court,
Birmingham—J. Watson, Sunderland, ship-builder,
April 16, at twelve, at the Court, Newcastle-
upon-Tyne—W. Huse, Stockport, draper, April
16, at twelve, at the Court, Manchester—W. C.
Williams, Accrington, Lancashire, draper, April 16, at
twelve, at the Court, Manchester—H. Crosby, Burnley,
Lancashire, draper, April 11, at twelve, at the Court,
Manchester—J. Wyatt, jun., Milverton, Somersetahire,
grocer, April 11, at one, at the Court, Exeter—C. S. Flood
and IL E. Lott, Honiton, bankers, April 15, at one, at
the Court, Exeter—J. Gilson, Leeds, woollendraper,
April 14, at eleven, at the Court, Leeds—J. Dixon,
Morley, Yorkshire, dyer, April 11, at eleven, at the
Court, Leeds—J. Corbett, Llantillio Pertholey, Mon-
mouthshire, miller, April 17, at eleven, at the Court,
Bristol—M. Buggeln, Liverpool, victualler, April 11,
at eleven, at the Court, Liverpool—T. B. Golborne and
A. A. Dobbs, Liverpool, wine merchant, April 15, at
eleven, at the Court, Liverpool—J. Cheshire, Hartford,
Cheshire, salt manufacturer, April 15, at eleven, at the
Court, Liverpool—G. Charnock, West Derby, near Li-
verpool, baker, April 14, at eleven, at the Coact, Liver-
pool—A. Brown and W. Todd, Liverpool, provision mer-
cheats, April 14_ at eleven, at the Court, Liverpool.

I-
da

...
th
..-
ad

LAURENT'S GRAND CASINO,
Licensed by Act of Parliament.
ARGYLL ROOMS, GREAT WINDMILL-
STREET, ST. JAMES'S.
Lessee, Charles Emile Laurent, jun., 57, Brompton-square.)
OPEN EVERY EVENING,
With LAURENT'S UNRIVALLED BAND.
boor. Principal Cornet-a-Pistons, M. Boulcourt.
Open at Half-past Eight o'clock—Dancing to commence at
and terminate at Half-past Eleven o'clock precisely.
Admission, One Shilling.

Extensive Travelling Leave granted without extra Premium
Moderate extra Premium for Residence in Tropical Climates.

EQUITABLE FIRE OFFICE.
Capital-500,0001.
(Incorporated under 7 and 8 ♦ict., cap. lig.)
The leading principles of this Office era—Moderate and equitable
Rates of Premium for each class of risk—Annual division of Profits.
The difficulty of collecting the elements on which to proportion
Premium to risk in Insurance against Loss by Fire has been so
great, that the rates at present charged are more the result of guess
than calculation.
It has been found by experience, that the total annual losses of the
different Established Companies have not been proportionate to the
amount of annual Premiums received by each.
It is of the highest importance, both to the Insured and Insurers,
that such an anomaly should cease, and an approximation to the
true risk be made. To secure this object the Equitable Fire Insu-
ranee Company is established.
The tree rate of Premium for Fire Insurance can only be ap-
proached through Classification and Average, which has not hitherto
been sufficiently acted on, or systematically applied.
Whatever be the nominal rate, the bonus or return periodically to
the Insured will determine the true Premium equitably payable, as
security against less for so great a calamity as fire, and the Insurer
is largely interested in this question, and will consult his interest by
supporting a system where, by a careful combination of Classifica-
tion and Average, the Premium will be proportioned to the risk.
The Equitable Fire (Mice will, by a constant analysis of its own
experience, from time to time, adopt such rates of Premium as the
nature of the risk may justify, and will decline to enter into arrange-
ments as regards tariffs with other offices.
With this view an annual investigation will be made into each
class of risk, and a return of one moiety, or fitly per cent. of the nett
excess will be made to all classes of Insurers whose Policies have
been in force for three years.
Insurances against Loss by Fire are effected by this Company upon
every description of Pronerty on moderate terms.
Farming Stock insured at Is. per cent, without the Average Clause.
Prospectuses, and every information may he obtained, on applica-
tion at the Office, or to any of its Agents.

BUDGET.—In noticing the most momen-
t,k, tour question of the day, the all-absorbing question of the
41e, shall not pause at the outset to consider whether it does or
til,i;llet assimilate with the general wish, but shall merely remark
calf
the man who can produce a budget embracing the inte-
,lttgn,"' all, and thrice happy he who can produce one affording uni-
Sk,,", satisfaction. Men of the largest and most extended talents
h4l}litherto failed in this achievement, and to E. MOSES and SON
kr "'en reserved the happy lot to accomplish this consummation so
ii'rY wished for.
"lite de arranging their Budget discoveries 1851 E. MOSES
nodan SON at
leclare they had no new to make, contend-
lia2terests to reconcile, no laborious task to carry out ; they have
In but to pursue without deviation their old and successful course,
the best and most approved material in every department of
:;!riell manufactures, to employ the greatest possible amount of
Illire,leal skill, and to effect sales so extensive as to make the
,4to Si'• shadow of a shade of profit amply suffice. Without entering
whithetails, of necessity too voluminous to be interesting, but for
„,theY refer their own valued public to their stock, they boldly
bi.,ll._"xlesitritingly declare they have produced a Budget, at once em-
lt4E the interests of all, and, at the same time, one which will
Drtc," universal satisfaction. For where the national wants have
110,sr °,l all the relief which could have been craved by some, E.
and SON'S low prices will enable them to bear the disap-
144.‘"ent more cheerfully; and to those whose wishes have been
sed, they afford the Indulgence in luxuries not always attainable.
handsome Almanac, for the year 1851, can be had gratis, on
.111 e application.
tie ,new edition of "Everybody's Book, containing a report
4tkh late t t trial, may be had gratis, on application, or by
" nlpor an
, post free.
Ot out
and SON have no connexion with any other house in
I. London, except the following
t'
SS,
City Establishment, 154, 155, 156, and 157, Minorlee, 83,
, and 86, Aldgate, opposite the Church, all communicating.
44q 1,015 West-end B anch, 506, 507, 508, New Oxford-street, 1,9,
r
Bradford Yorkshire" Branch, 19, Bridge-street.
iteflield Branch, 36, Fargate.
IlkSrs, Clothiers, Hatters, Hosiers, Furriers, Boot and shoe-
Tirs, and General Outfitters for Ladies and Gentlemen.
11412 Establishments are closed from sunset Friday to sunset 61%-
-')', when business is r^serned till Twelve o'clock.
Ici l'on parle Francaise. si pule Itallano.
Eller spricht man Deutsch. Aqui so liabla Espanol,

t National Loan Fund Life Assurance Society.
* Equitable Fire
* Both Offices.

ANNUAL DIVISION OF PROFITS AND LARGE REDUCTION

OF PREMIUMS.
HAND -IN-HAND FIRE and LIFE
INSURANCE SOCIETY.
Instituted in 1696. Extended to Lite Insurance, 1836.
IMMEDIATE, DEFERRED, AND SURVIVORSHIP
ANNUITIES GRANTED.
DIRECTORS.

tt. IN SIX LANGUAGES-FORTIETII EDITION.
qTAINING TILE REMEDY FOR TUE PREVENTION OF

The Hon. William Ashley.
The lion. Sir Edward Cost.
John Lettsom Elliott, Esq.
James Estiaile, Esq.
Harvie M. Farquhar, Esq.
John Gurney Hoare, Esq.
AUDITOIIS.—The Hon. Col. Cust,

DISEASE.
p.thstrated by 100 Anatomical Coloured Engravings on Steel.
',PHYSICAL DISQUALIFICATIONS, GENERATIVE INCA.:
4 New and
AND IMPEDIMENTS TO MARRIAGE.
h.. eve and Improved Edition, enlarged to 196 pages, price 2s. 6d.
' Post, direct from the Establishment, 31. Gd. in postage stamps,
pr
RE SILENT FRIEND, a Medical Work on
ti, the exhaustion and physical decay of the system, produced by
k. erLore indulgence, the consequences of infection, or the abuse of
',„;`, 7, with explicit directions for the use of the preventive lotion,
104 ,:4, hY observations en the Married State, and the disqualifies-
i7l4, dCik prevent it. Illustrated by 26 Coloured Engravings, and
detail of cases. By R. and L. FERRY and CO., Consulting
til't lens, 19, Berners-street, Oxford-street, London. Published by
I,Authors • and sold by Strange, 21, Paternoster-row ; Hannay,
14. kid ci '
tit ~ ••anger, 150, Oxford-street ; and Gordon, 146, Leadenhall-
,_ P 4 '4enden.
legaT 1, treats of the anatomy and physiology of the re-productive
A P4' and is illustrated by 28 Coloured Engravings.
'ltrf ~T 11. treats of the consequences resulting from excessive in-
Siite• and their lamentable effects on the system, producing
4,444.44,1 d bodily weakness, nervous excitement, and generative
Pot.;',4_3'• Illustrated by 10 Explanatory Engravings.
iit pm" kll. trats of the diseases resulting from infeco, eithe in
tr.81.3' ore secondary form, and contains explicit ti
dirnectionsr for
in 'ls 'lll4:l3,ent. This section is illustrated by 62 Coloured Engfav-
II 01. 1.
'Oh A— • contains a Remedy for the Preventitn of Disease by a
,114 IZPPileation, by which the danger of infection is obviated.
"'N,j'Portant part the Work should not escape the reader's
I' •
T
ilk V. is devoted to the consideration of marriage, and its dn-
lh, Tl,
A, -e causes of unproductive union are also considered, and the
t,,Tif'n4biect critically and philosophically inquired into.
'`44I,:"OROIAL BALD[ OF STRIACUM is exclusively employed In
re "'8 nervous and sexual debility, impotence, Sec., I Is. and 331.
Oltd ". The Concentrated Detersive Essence, an anti-syphilitic
1,k14 for purifying the blood in cases of infection, secondary
oases '7", eruptions, and the abuse of mercury, 1 is. and 335. per
C' t.P., terry's Purifying Specific Pills, 2s. 9d., 4s. 6d., and I Is.
11olt„'"? a certain remedy for gonorrhcea, gleet, stricture, and
4- inflammation of the bladder. Consultation fee, if by letter,
t,lll,l'4innte detail of th 'ense is required: age , habits, and posi-
-14, l4,.ktiety. s'. Packetse , with advice, to be had at the Kau-
:" '`ril only by which the fee, ii., is saved. Messrs. Perry,
'lt
*set. in sttendance d fly at 19, Barriers-street, Oxford-
London,irt from Eleven till Two, and Five to Eight ;cn Sun-
"s Eleven to One.
--

E. Fuller Maitland, Esq.
The Hon. Chas. John Murray.
William Scott, Esq.
John Sperling, Esq.
Henry Wilson, Esq.
Robert Winter, Esq,
Thos. Fuller Maitland, Esq.,

ill,
;ht
to
he

James Esdaile, Esq.
BANKERS.—Messrs. Goslings and Sharpe, 19. Fleet-street

PrirslciAN.—Thomas K. Chambers, M.D., 1, 11111-street, Berkeley-

square.
SOLICITORS.—Diessrs. Lumley, Nichol], and Smyth, 18, Carey-

street.
ACTUARY.—James M. Terry, Esq.
SECItETAIT.—Robert Steven, Esq.
FIRE DEPARTMENT.

Although the lowest rates of premium consistent with security
have been charged by the Office, it has for many years been enabled
to make very large returns to septennial Insurers.
LIFE DEPARTMENT. _ _

The important advantages offered by the plan and constitution of
the Life Department of this Society are—
That Insurers are protected by a large invested capital, upon which
there is no Interest to pay, and for which no deduction of any kind
is made, which enables the Directors to give the whole of the Profits
to insuring members.
That the Profits are divided annually amongst all members of five
years' standing, and applied towards reducing life insurance to the
lowest possible rates of premium.
The following table exhibits the Abatement of Premium that has
been made for the past nine years to members of five years' stand-
ing :

Years of Rate of ~, Tears of Rate of
Division. Abatement. Division. Abatement.
1842 £45 per Cent. 1847 £5O per Cent.
1843 45 „ 1848 50 „
1844 45 „ 1849 521,4 „
1845 50 „ 1850 6214 „
1846 50 „

A Policy taken out on or before the 24th of June, 1,45, at an an-
nual premium of 1001., will consequently be charged 471. 10s. as this
ear's premium ; and it is expected that an equal abatement will in
future be annually made.
That persons insuring their own lives, or the lives of others, may
become members.
That persons who are willing to forego participation In the profits
can insure at a lower rats than that charged to members.
The following table will show the effect of the reduction of pre-
mium made by the Society on Members' Policies that have been five
cars in force

I It. CULVERIVELL'S NEW WORKS.
Ts b. bad of Sherwood, 23, Paternoster.rew ; Carvalho;
wki's:;ett-street ; Mann, 39, Cornhill ; or direct from the author,
4e Shilling each ; by post, Is. 6d.
ENJOYMENT OF LIFE.
Co "Health, Recreation, and rational Use of Time."
Itlttslo:!ars:—Early Rising—Spring and Summer Mornings—Ea.
ON:" about the Environs of London—The Parks, Lanes, Hills,
`lll4-4, Fields, High-reads, and other pleasant places—Country
k,44,1 Rambles—The Sea—London at Night 11 at Home
tl,'"-•The Drama—On Eating, Drinking, Sleeping, Bathing, Alr,
!18a, Occupation, Etc., &,c.
IIItAGMENTS FROM THE MOUNTAINS. Two VMS.
Vol I.
.4/3IT TO TILE LAKES; SKETCH_OF EDINBURGH, &e,
t Vel.
--"" LAKES OF KILLARNEY; REMINISCENCES OF
DUBLIN, &c.
WHAT TO EAT, DRINK, AND AVOID.
A "That three score years and ten our course may run."
V popular review of almost every form (cause and cure) of ner-
litlY-clebilitated health and enfeebled constitution, that harasses
41011
,11g, besets the man of pleasure, business, or study, and em-
brill old age, with table/ anti rules ibr the diet and physical regu-
,on. of every-day life.

THE pASSIONg.
What passions hurt the body—what improve,
Truths as refined as Athens ever heard."
,ttic,'‘Tecrr : -Life's pilgrimage, from infancy to old age. The advent
ss,"lPassions. Chastity and its infringements. The casualties of
kequtuiness and dissipation, with illustrations, graphic, narrative,
tlftediative. Advocacy of early marriages.

:11 THE MARRIAGE STATE.
10 1 • "Tobe or not to be, that is the question."
1 %0,31,Az0n,
tisri I—Laws and obligations of nature, society, and re-
la
%it% regarding marriage, to be observed by either sex. Time and
t te
It Jtirt ',On both sides, as to age, temperament, compleilos, and
e. ii4:i:,,..? secure healthy offspring, with the art of rearing them.
''''' defectiveness and its removal. Sterility and its conversion.
n 111/'lll4.
- NI . J. CULVERWELL, M.D. (1841), M.R.C.S. (1827), L.S.A.
n titti: Twenty-five years Medical and Forensic Referee in these
4,.„ Roolption boors daily till Am levelling& omen till nine.
Cl. N.,_•^""-blace. Regent-street.
th.
I-

years in forco :
Age when Sum Annual Premium Reduced
Insured. Insured. for first five years. Premium.
...................... ................
£ £ 8 . d . £ s. d.,
30 100 2 13 5 1 $ 6
109 3 7 11 1 12 3
40
500 13 7 1 6 7 0
30
40 .500 16 19 7 8 1 3
45 1000 38 19 2 18 10 1
40 2000 67 18 4 32 0 2
46 5000
194 15 10 92 10 6

'441.0
)I'l/

the premiums. affords immediate benefit
This system of reducing
co te mebers, or enables them to Insure a frther sum uon teir
lives equal to more than one-third of the presenut policy, without h any
additional outlay.

ROBERT STEVEN, Secretary.

CAN BR AN ASSUR-
ENGLIALL POIAANCCIEES
SH AND
For Life Annuities,
Copyhold Propertl:.
kfri rs London.
Chief Oftice-9, NEW 14RIDGE-STRELT, Blac a ,
" Declined" L' and Loans, and for Perpe uating Leasehold and
Lives taken at equitable rates.
Life Policies "indisputable" and not liable to forfeiture.
I D
SOCIETY. LE
Policies of rive years' standing not void in cages of suicide.
Policies granted from 20/. to 5,0001.
Special tables to suit the working classes, to whom the advantages
of Life Assurance are at present almost wholly unknown.
Medical men remunerated in all eases.
Immediate,
survivorship, and dcfbrred annuities and endowments
granted, and every other description of risk contingent on human
life.
Loans granted on undoubted security of every description, upon
more advantageous terms to the borrower than in any other office,
and at one-half the customary charges. If on personal security
the sureties must be resident in or near London.
Claims payable three months after satisfactory proof of death.
Prospectuses and any further information may be obtained from
the Manager.

C. W. BEVAN, Resident Manager.

HE GENERAL LIFE AND
FIRE ASSURANCE COMPANY,
Established 1837.
Empowered by Special Acts of Parliament, 3d Vic. c. and
10th Vic. c. i.
62, King William-street, London.
And 21, St. David-street, Edinburgh.
Capital, One Million.
DIRECTORS.

Renewal
Receipts
are
now read,
all bust-
George Bousileld, Esq.
Thomas Piper, Esq.
Ejl;odih:hw:nnss. a r: I Handley,il PlASkisir n
Villiers,l
s EPo an °..p,EenaEas'ig,s,,Ey.yrt 1-:
Mil
r:P:
JTalicoosb. Coheaol.lies ,oEp
es,qE, .
or. d AI d .
John Dixon, Esq.
Joseph Fletcher, Esq. , sq.
oranodf mayan
hichard llollier, Esq.
b ofe
ITI its
il IsacAa
the •
LgoeAnni,Dat
pelYrlEilc)aAit)iirEonpaLttah,emhEl:Td Offices of
Company
tphaenCy
application
the country.
noes relating to Life Assurances, Deferred Annuities, or Family En-
dowments, upon the most lateral terms consistent with sound princi-
ples and public security.
LOANS granted on personal security, and the deposit of a Life Po-
licy to be effected by the borrower.
To all Agents, Solicitors, Auctioneers, and Surveyors, a liberal al
lowance is made.

By order of the Board,
THOMAS PRICE, Secretary.

THE HUMAN lIAIR.
ROWLANDS' MACASSAR OIL is justly
renowned throughout the world for its remarkable virtues,
in nourishing, preserving, and beautifying the human hair. Its
operation in cases of baldness is peculiarly active ; so that, in
numerous instances wherein other remedies have been tried in vain,
ROWLANDS' MACASSAR OIL has superseded the ornaments of
art, by effecting a complete restoration of beautiful hair. In the
growth of whiskers, eyebrows, and mustachios, it is also unfailing
in its stimulative operation. For children it is especially recom-
mended, as forming the basis of a beautiful head of hair, and
rendering the use of the fine comb unnecessary.
Price 3s. 6d. and 7s. ; or family bottles (equal to four small) at
10s. 6d.; and double that size, 21s.
CAUTION.—On the wrapper of each bottle of the genuine article
are these words in two hues, " ROWLANDS' MACASSAR OIL."
The same are engraved on the back of the wrapper nearly 1,100
times, containing 29,02$ letters.
Sold by A. Rowland and Seas, 20, Hatton-garden, Lou.un, all by
All Cheri:Was and rerftuuen.

No 18 ,25 0 ..s, LONDON, MONDAY
„ • Y,
. • ,Vi"
'
- 7 MARCH 24,
N

J. R. Dinnistoun, Glasgow, merchant, to meet within the
Stock Exchange Rooms, Glasgow, March 28 and April 18,
at one.
G. Ord, Glasgow, house agent, to meet within the Star
Hotel, Glasgow, March 25 and April 15, at two.

THE COUNTRY AND THE CURRENCI.

EXTRACT FROM SPEECH OF THE RIGHT HON. WILLIAM
HUSKISSON ON MR. TIERNEY'S RESOLUTIONS ON THE
STATE OF THE PUBLIC FINANCES, JULY 9, 1827,
(stating manner in which the productive classes benefit by
a rise and suffer from a fall in prices) :
" When prices were continually rising, all the active classes
were benefited, and annuitants alone were placed in a worse
situation ; but it was better that any loss should fall on them
than on the productive classes. The effect of a rise in price
on them would perhaps force them to greater economy, and
at most abridge their comforts; but while they were reduced
to this, the other classes were benefited. But the effect of a
falling market on the industry of a country was very dif-
ferent.
" If the value of a man's stock were only reduced one-
tenth in value, perhaps that one-tenth might amount to the
whole oflOs own capital—the nine-tenths might be borrowed.
The fall naturally alarmed the creditor, who, by urging his
demand, forced sales, by which the difficulty was increased.
" In such a state of things it was impossible that the re-
venue, depending, as it did, so much on the active classes,
should not fail."
[N.B. The alterations in our currency having been not one-
tenth only, but from one-third to one-half, the fearful effect
of these enormous changes on the industry of the country
and the active classes and the revenue must be apparent.]

TO THE EDITOR OF THE SUN.
Six,—The currency promises or threatens to be one
of the chief subjects, if not the principal, which will
shortly demand the attention both of the Legislature
and the country. Your readers will approach this im-
portant question not altogether unprepared, thanks to
your kindness and the lucid explanations you have so fre-
quently given on this vital topic. I trust you will allow
mo now to offer a further practical, and I hope clear,
exposition of the manner and degree in which all
classes have been affected by the workings, or rather
derangements of the existing system, founded on autho-
ritative and indisputable authorities and calculations.
I find in Mr. Johnston's truly valuable work," England
as it Is," the following striking statement as to the in-
crease made in the national debt and private debts by
the currency measures of 1819:
" . . . . Our Government first gave 879,000,0001.
in stock for 584,000,0001. in paper money, and then the
Legislature made a change in the law which gave to
the whole of the outstanding stock the value of gold
money. Thas the 576,000,000/. of outstanding stock
was enhanced from 30 to 40 per cent, or, in other
words, in return for 396,352,2071., the net sum received
from loans from 1794 to 1817, the nation is now boand
in a sum equal to 768,000,0001. of the money in which
those loans were contracted.

" The amount of private debt in the United Kingdom
of Groat Britain and Ireland has frequently been es-

timated, or rather guessed at, and conjecture seems to
range between the amounts of 1,000,000,0001. and
3,000,000,0001. To most persons this will probably
seem—at all events at the first glance—an incredible
magnitude of debt; but I think they who place the amount
somewhere between 1,500,000,0001. and 2,000,000,0001.
do not make an extravagant estimate. The amount of
fixed property—such as lands, houses, mines, quarries,
canals, railways, &c.—is actually returned to the Pro-
perty-tax Commissioners at about 90,000,000/. a year,
which does not include Ireland. But suppose we take
the income from fixed property at 100,000,000/. a year,
I believe it is not going too far to say that one-half of
it is tied up by mortgages, settlements, or incumbrenees
of one kind or another; or, in other words, the nominal
proprietors of the property worth 100,000,0001. a year
have to pay away one-half, in the shape of interest, or
of annuities, to persons to whom they are, in sone form
or another indebted. In this country a proprietor, until
absolutely compelled by the pressure of circumstances,
rarely transfers any part of his estate to those to whom
he is indebted, or to the children or other relatives
whom he may desire to endow with fortunes. Ile leaves
his estate nominally the same, but charges it with heavy
sums of money which remain as debt, and upon which
an annual interest or equivalent annuity is paid. Now
if half the income from fixed property be thus disposed
)f, this 50,000,0001. a year may be considered to repre-
sent 1,500,000,0001. of debt or incumbtanee, to say no-
thing of the large amounts which are lent upon personal
credit, upon stock in trade, upon goods in transilu, and
in sill the various transactions of a great commercial
country. I exclude credits from week to week, or day
to day, such as are adjusted by millions at the bankers'
' clearing house' in London; but referring only to those
various debts, whether upon fixed or floating security,
which pay interest, I apprehend it is not an exaggera-
lion to estimate them at nearer 2,000,090,0001. than
1,500,000,000/. When we add this to the national
debt, we shall find an enormous sum of indebtedness of
s fixed amount of money, from which ee may infer the
-xtreme importance to this country cf any change in
the currency.
" Although they who took a principal part in the
great currency change of 1819 did not contemplate an
appreciation of more than 4 per cent., yet the result was
a❑ increase in the value of money of not less than 33
per cent.; and supposing the private debts of that period
to have been 1,600,000,0001., the national debt being
half as much more, the effect of the change of 1819 was
to add to the actual amount of then existing incum-
branco, public and private, an amount equivalent to the
whole national debt, that is 800,000,0004 e •

. __.
Now, after perusing these very clear and distinct re-
presentations and calculations of Mr. Johnston, let us
took at the following statement as to tho increase of
wealth in some small classes, and growth of poverty and
suffering in the great mass of the People, which are the
natural consequence of the currency measure of 1819.
Thole measures having, as shown by Mr. Johnston,
added not less than eight hundred Millions sterling to
the public and private debts of the country, thus aug-
menting to that extent the property of the richer, or
creditor and smaller class, and imposing
that immense
amount of additional burden on the
poorer or debtor
classes, being the great body of the People, including all
the agricultural, commercial, manufacturing, and labour-
ing classes end population. Extracted from that ad-
mirable work " England in 1815 and 1845," by Mr.
Alison, one of the most distinguished writers and emi-
nent authorities of the day; published by Messrs.
Blackwood:—
. What wo say is unparalleled in tha history of the
world is the co•existenco of so much suffering in one
portion of the people, with so much prosperity in
another; of unbounded private wealth, with increasing
public penury; of constant increase iti the national re-
sources, with constant diminution in the comforts of a
considerable portion of the community; of the utmost
freedom consistent with order ever yet existing upon
earth, with a degree of discontent which keeps the na-
tion constantly on the verge of insurrection; of the most
strenuous efforts for the moral and religious improvement
of the poor, with en increase of crime unparalleled at
the same or perhaps any other period in any civilized
state."

working classes, in all the large towns, were suddenly
deprived of employment, and thrown upon their own
feeble resources for the maintenance of their families.
"It is natural that disease and erimo should follow
in the train of so much suffering and privation; and ac-
cordingly the reports of the several medical charities,
and tip" records of our prisons, bear testimony to the
fearful injuries inflicted by the money crisis of 1837.
"It may be estimated, that in the production of the
fire great manufactures, of cottons, woollens, silks,
linens, and hardware, capital, fixed and floating, is em-
ployed, amounting to a hundred millions sterling. The
rates of depreciation caused by the late panic upon all
those articles of production, may be gathered, without
difficulty, from the prices current of the spring and sum
mer of 1837. They fell in price variously from 20 to 50
per cent. To estimate the amount of loss upon these
manufactures, they must also be followed into the hands
of the wholesale and retail dealers, whose losses upon
stock, consequent upon the operations of the Bank of
England on the currency, are incurred simultaneously
with those of the first producers. Scarcely one of these
esesped in 1837, withont the sacrifice of the whole of the
ordinary profits of the year's trade; and many lost, by
the fall in the value of their stock, the whole of their
capital also. In proof of the latter fact it must be stated
that 1,839 fiats in bankruptcy were issued in 1837, the
average of the four previous years amounting to 1,266
only; whilst a proportioned increase occurred in the
number of private compositions. At a moderate com-
putation from twenty to thirty millions of capital may
be estimated to be employed by the wholesale and re-
tail traders engaged in the distribution of the five great
manufactures enumerated above. It has been shown
how the policy of the Bank of England affects the
foreign trader, by compelling him to import, at heavy
sacrifices, the bullion required to replenish its exhausted
coffers. Of all our produce and manufactures consumed
in foreign countries, the greatest portion is sent abroad
by British capitalists. Nearly the whole of our exports
to India and China; at least seven-eighths of the amount
shipped to South America, and a third of the exports to
the continent of Europe, with the whole of our colinial
trade, are forwarded by British capitalists. From
thirty to forty millions of British capital thus enumerated
are as follows:

Employed in the production of the five
great articles of cotton, woollen, silk,
linen, and hardware
In the wholesale and retail distribution

25,000,000

of ditto
In the whole of the foreign commerce of
the country 35,000,000
" Without embracing the less prominent branches of
our domestic manufactures, including the trade in a
thousand articles of daily consumption, and omitting the
traffic in agricultural productions, all of which were
more or less affected by the revulsion of prices, reference
has been made to a capital of one hundred and sixty
millions. upon which we may trace a tangible loss vary-
ing from twenty-five to fifty per cent. by the depreciations
of value in the spring and summer of 1837. This sacri-
fice of forty millions at the least (and which constitutes
a fraction only of the losses simultaneously sustained
by the whole commercial world) was incurred in order
that the Bank of England might regain possession of six
or seven millions of specie, which had been previously
forced out of the country by the undue expansion of the
currency.
"Hitherto it has been too much the custom to consider
the question of the currency merely in its relations to
the banking interests; or, if viewed with reference to the
public welfare, it has been merely to guard against di-
rect losses by the failure of banks ; the far greater inju-
ries inflicted upon the community by the oscillations in
the amount and consequent value of a paper currency
will, it is hoped, henceforth engage that consideration
which they so strongly merit. "

To thistestimoniiawe must add the statement of Mr.
Cobden, when examined as a witness before the Com-
mittee of the House of Commons, on banks of issue, in
1840, the spirit of which shows that he was fully con-
vinced of the sound principles contained in the Man-
chester report:—
" I believe great evils have been occasioned to the
trade and manufactures of this country in 1836 and 1837,
and in the subsequent period, by fluctuations in the cur-
rency—greater evils, pecuniary, social, and moral, than
by the direct failures of all the banks of issue since they
were first exhibited in this country."
We find the full confirmation of the statement of the
Manchester Chamber of Commerce, and the proof that
the evils of which they complained have been rather
aggravated than diminished, and the changes in the
value of money augmented, in the following extracts from
the Lords' Report on Commercial Distress, 1848:
" Mr. Cotton states (3,246) that in his commercial ex-
perience ho never knew such a fluctuation in the rate of
interest as occurred in 1847.

" Your Lordships will bear in recollection that the

years 1837 and 1835 were years of peculiar pressure.
" The following table, extracted from the evidence of
Mr. Browne, exhibits the contrast between those years
and 1847:

Lowest rate. Highest rate. Difference.

..,
1837
1839
1847 - 10 61
"He athis, ' this does not give an accurate view of
what the interest of money was in 1847, because per-
sons frequently paid a commission, which made it amount
to 10, 20, and 30 per cent., depending on tho time the
bill had to run, and the pressure of money at the mo-
ment. The commission charged in 1837 and 1839, is as
by no means to the same extent. The Governor of the
Bank states, that on the 23rd of October, 225,0001. was
discounted by the Bank in the London market, at rates
vnryiug from 5-1 to 9 per cent.' Afterwards he added,
in reply to the question, whether within his own expe-
rience, or within his own knowledge, he was able to
refer the Committee to any period when the variations
in the rate of interest were so considerable as they were
(luring the period to which his evidence apdlied, ' I have
no recollection of a period in which the variations in the
rate of interest have been so great.' "

" It is true that those who may have expected that the
Act of 1844 would effectually prevent a recurrence of
cycles of commercial excitement and depression, the
contrast between the years 1845 and 1847 must produce
a grievous disappointment. To those who anticipated
that the Act would put a check on improvident specula-
tion, the disappointment cannot be less, if reliance is to
be placed (as the Committee are confident it may) on the
statement of the Governor of the Bank, and of other
witnesses, that speculations were never carried to such
an enormous extent as in 1846 and the beginning of
1847. If the Act were relied on as a security against
violent fluctuations in the value of money, the fallacious-
ness of such anticipatio❑ is conclusively proved by the
filet, that whilst the difference between the highest and
lowest rate of discount was in the calamitous years
1837 and 1539 but 2,± to 24 per cent., the difference in
1847 rose to Q. If it was contemplated, that the num-
ber and the extent of commercial failures would have
been lessened, the deplorable narrative of the Governor
of the Bank, recording the failure of thirty-three houses,
comparatively in large business, in London alone,
to the amount of 8,129,0001. is a conclusive reply. If
the enormous extent to which railroad speculation has
been carried be considered as an evil to which a sound
system of banking could have applied a corrective, such
a corrective has not been found in an Act, since the
passing of which, during a period of three years, an in-
creased railway capital of upwards of 221,000,0004 has
been authorised to be raised by Parliament ; and when
the enormous sum of 76,390,000/. is stated, on high
financial authority, to have been actually expended on
railways in two years and a half. If the power of ob-
taining banking aecommodation on moderate terms were
considered to be promoted by the Act of 1844, it cannot
be said "that this important object has been attained,
since it appears in evidence that in 1847, in addition to
an interest of 9 or 10 per cent., a commission was also
frequently paid, raising the charge to 10, 20, or 30 per
cent., according to the time which bills had to run."
What commercial operations can bear such fluctua-
tions as those described; and what prudence can protect
the merchant against them, proceeding, as they do, from
changes in the value of money, and therefore entirely
beyond `his control?
Now let us proceed to examine more in detail the real
effects of these alterations in the value of money thus
established and described by Mr. Johnston, the Man-
chester Chamber of Commerce, and the House of Lords.
When it is remembered that the alteration of not less
than eight hundred millions shown by Mr. Johnston to
have been made in the real value of the public and pri-
vate debts of the country by the Act of 1819 has been
repeated at every fluctuation that has taken place, as
shown and proved by the statement of the Manchester
Chamber of Commerce in 1839, and the report of the
Committee of the House of Lords in 1847—when it is
remembered that this frightful and gigantic operation
has been repeated every time the currency has been ex-
panded and contracted, is there any reason to wonder
any longer at the strange calamities and contradictions,
the alarming contrasts of riches and poverty, which the
country presents? In 1822 the currency was contracted
—in 1824, expanded—i❑ 1826, contracted—in 1834, ex-
panded—in 1836, contracted—in 1844, expanded—in
1847, contracted—and now again expanding.
At each of these changes an alteration of eight hun-
dred millions was made in the value of the public and
private debts of the country! ! ! Is there any longer
any reaso❑ for wonder at the astounding and portentous
features that have been manifested by a country and a
population subjected to such fearful operations ? And
when it is borne in mind that the debts of the landed in-
terest, consisting of mortgages and family engagements,
are the most permanent portions of the private debts of
the country, and that Sir James Graham has stated that
at least nine-tenths of the landed property of the country
is thus encumbered, is there any reason for surprise that
the landed interest has exhibited since 1819 a downward
tendency the most decided, as it has suffered most severely
from the additional burdens thus inflicted ?
And is it possible that these dreadful oscillations can
be Buret red any longer to continue ? Is it possible that
any Government, any Parliament, any individual Mem-
ber of Parliament, will bear the responsibility of suffer-
ing the continuance of these periodical revolutions of
property? for no less a name can be attached to changes
which at each ascent and descent afft ct the debts alone
of the country do the extent of eight hundred millions
sterling.
During the war, and With the currency of the Taw,

" It is evident that there is in our present state some
thing which demonstrates
.the existence of a great and
latent evil, which poisons, for a largo Part of our people,
all our prosperity, and converts the fruits of industry
into the apples of Sodom.”
That this great and latent evil bearing upon the great
body of the people, has its origin in the eight hundred
millions sterling, shown by Mr. Johnston to have been
added to their public and private burthens by the cur-
rency measures of 1819, there can be no doubt. And
this will be rendered still more clear, and the puzzling
contrarieties pointed out by Mr. Alison still more con-
clusively accounted for, when we consider that the
operation of our currency system has not been confined
even to the process, monstrous as it seems, of one change,
adding eight hundred millions to the debts of the
country, but that since the Bill of 1819 was passed there
have been no less than six contractions and expansions
of the circulation; each altering the value of money to
the same extent of 30 to 50 per cent., and we have now
just escaped from the sixth contraction, which took
place in 1847, and have entered upon a seventh expan-
sion, which has caused the present partial prosperity.
And now let us look at the following extracts from the
Report of the Manchester Chamoer of Commerce in
1839, showing fully and practically the severe and
ruinous losses to which the commercial and manufac-
turing interests have been subjected by the fluctuations
iu the currency amounting, as shown at one single fluc-
tuation on the production of cottons, Woollen's, silks,
linens, and hardware alone, to not less than forty mil-
lions sterling, and the consequences that have followed
to the merchants, manufacturers, traders, and operatives,
and entirely confirming the statements of Mr. Johnston
and Mr. Alison i—
" By these forced expansions and contractions of the
currency, during the last three years, some of the most
prudent and wealthy of our merchants and manufac-
turers have incurred that ruin which in a more whole-
some and natural state of the circulating medium could
befall only the reckless adventurer and gambler. Under
such a state of things as has been described calculations
bated upon the most enlarged experience afford no secu-
rity against loss and failure. The trader learns the fate
of his undertakings not in the markets of the world, as
influenced by the law of supply
.and demand, but in the
acts of twenty-six irresponsible individuals conducting a
joint-stock banking association in the. city of London.
"But the heavy pecuniary losses incurred by our capi-
talists constitute a minor evil when compared with the
moral and social injuries inflicted upon the labouring
classes by the fluctuations in the currency. The board
have directed their best attention to this part of the
subject; the effects produced upon the condition of the
great mass of the people, by the operations of the Bank
of England having hitherto been almost entirely over-
looked.
"The late panic, by causing a diminution of our ex-
ports in 1837, as compared with the previous year to the
extent of ten millions, and by curtailing proportionately
the amount of our home trade, was accompanied by a
corresponding cessation of the demand for labour. In
the spring aUtl summer of that year vast numbers of the

* Mr. Henry Burgess, one of the best informed and ablest
writers on the subject, the Secretary to the Country Bankers,
stated, in a petition to the House of Commons, in 1849, the
amount of bills of exchange alone at four hundred millions,
r epr sseutiug of course a floating debt to that amount.

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