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

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?PAGE OF TWO BANKS
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tiolssiutyrusairtis, Ocr. 7.
The appearance of the money article in this morn-
ing's Sun, of the announcement that the bills of our
chief local bank (the Alearnouth and Glamorganshire
Joiol-Stock Bank) had been refused payment by the
London Commercial 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 the it credits, c:owded 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-
-I"'clu9nee 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 day.," This was calculated to in-
crease suspicious instead of allaying then, 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,
whiclris R. among which
were the Cwrn Brane Iron Works, at the head cf
•
lilewitt, Esq., the M.P. for these bo-
roughs, and one of the proprietors of the bank. Of
thpar "Igg
rnoe most serious
ration was rife. There are, however,
apprehensions entertained in th?,
Many of
circles that " the worst is not yet known.
In then °l3f tile shareholders have invested their little all
whooweve had credits
also, tuak, and their fears are very great. Many,
haen. r, to them_
small amounts—considerable,
t-eln—are under the most anxious appre-
,,,:3,m,as• The benefit societies of the town and
eTgooeurhood have made large deposits in the bank,
ose societies the unenrolled bodies,
terdnl
builldtn°"dgd It'he
s were depositors to a very consi-
der;Th.. a emeunt—about 4,000/. it is said. These de-
_l 0 the case of
sttors have not the claim that enrolled societies have
suspended payments of a bank; all the
or men
who are the members are thus, it is feared,
a verfortunate position ; though it should be
eli. that the proprietary—a
rememberedtbial h large and influi
-`)-37—are well able to pay, and must pay al la_ dities of the b3nk whatsoever.
Soon after the notice alluded to had been put up at
24
the Monmouth and Glamorgan Bank, the doors of
closed, and
essrs. Williams's old bank in this town were al so
a notice affixed to the door that payments
th
suspended in consequence of the suspension of
e Monmouth and Glamorgan Bank.
to was a prudent step, doubtless ; but it tended
in increase the panic already existing, though the fears
regard to the old bank were fortunately but very
'bra", though of a different character (it being a private
an, 4) to those respecting the other.
-kae streets have been filled by groups of mercantile
Professional men all the day, all of whom evince
de!Pest concern. When we mention that the
commercial interests in the place, the Mon-
ri°4thshire Railway and Canal Company, the facto-
rae„s'"lh„aod several_ companies bank with the Mon.
n and Glamorgan it will readily be supposed the
Panic is extensive. -c
• -. b
OPs to be able to report more favourably than
th.lts tie third
apprehended at present, in the course of a day or two.
sank in town, the West of England
triet Bank, unaffected by the crisis.

TO G. OUNG M 1)
, ESQ., P.
Sm,-
your have read F. Y
Y letter in the Morning
Chronicle--
of Thursda
lsst. It put me in mind
_Ol
a tale told of a sturdy mendicant, who, when sternly
refused by a gentleman, turned away, and despairingly
Sagentleman, Ohl nay God, then I must." "Must
Said the alarmed gentleman. .. Go to work," w
the reply. whata,:
nrds, they LiTAVgsoo must your
Yo • r dear friends, theland-
have
ahoutur,pflr,
that something else
nasndsomething from Adam Smith
a Smith, which it Wages, but
of Smi has come out since
enhance rent. yo-uncemutshtekdnaoyws
to enhance and study deepl before you ask for a law
juswiC:huladvebae well for you to
look at what Mill
55YR about rent.
And look well
time
wghienn ships, railroads, 80., Sac,
Maki° • .we i too, at the progress America is
productio we may be left far behind, supposing-
the
Consed by
n of this gr
eat country shouldand reflect on the
lookup
savedarti ne 4 e
tnhhea 7e)e;
people
. tt
through
o and trace l be wastefully
o by rent-holders
throw • • •00 00 spent
the
u n4th
'natural price—
y Tat-holder spends it on horses,r carriages,g &c., the
f-pn-r-ihce and that same
firan e spend it on railroads, ships, houses, &c. In the
thaEseease "e
Inc)neY may be said to be annihilated. In
second it become 4of and repro-
duction. san agent strength
ho. c•
Ji knr, were
to the
rent-huld i our savings to be paid over
of being save
and by him wasted on luxuries, instead
t enting saved and put to reproductive purposes, into
w y years time England would have had to bow
tnarica.
The
de-
. hone and sinew of Enland had began to
ea., under protection, her peasants were becomi...ngr
-1,41143 t adds avage, and had not the late lamented Si
4c11t.1. eel stepped in to the rescue, her decline and fall
not been distant. But a great change has taken
Lllcei a change which will for a time act on the far-
4.'er until bis rent approximates somewhere to the con-
and standard, which saoner or later it must do,
!ncl the information given in your letter on that sub-
3e.et rosy be found valuable when shorn of its excep-
tional features.
i In conclusion I beg leave to inform you that the rent-
wild
era for many centuries have had it all their own
h
WaY ; they had their land on certain conditions, wh. ic
eonditions they have from time to time altered always
In their own favour, so, perhaps, it would be better for
You to leave well alone ; at all events, before .
you come
P3n me for some of my little savings to g i
ve to the
4N
-holder, the whole subject must be fully lookedinto.
I am, Sir, Sce.,
A TIN PLATE WORKER.
London, Oct. 4, 1851.

:NAUGURATION OF A. STATUE TO
WILLIAM THE CONQUEROR.

ci TO THE EDITOR OF THE SUN.
S travelling lately in Normandy, I
earned that a celebration was to come off at Falaise,
vf„ll,sieh Will possess considerable interest to the English
h
situated ralaise, a town of soma 10,000 inhabitants,
about twenty-one English miles south of
a 4", is the birth-place of William the Conqueror,
n4tid there, in front of the Hotel de Ville, on Tues.
a
ifY) Oct. 14th, the anniversary of the battle of
an equestrian statue to the first Norman
'rig of England, just finished by a Parisian artist,
'a to be erected and inaugurated. Great preparations
are
boTiede at Falaise for a splendid fete. The castle
rhe Dukes of Normandy—where William was
itz:;:i.nti,lh::-Ibocovering about four acres, with the lofty
t
Tower," erected by Earl Talbot in the 15th
nanopasan
bsjteacnt of
stands ra
a egnificent monument of the
ruaaonnd great interest to visitors. The
ezetheZL)rk of the Talbot Tower I have not seen
Mention F any building in Great Britain. I will
reach eaenat, when the traveller is at Havre, he can
dll'genell steamer in about four hours, where
Caen, e 8 run t •
plaaecne: where Falaise several times a day. At
architecture than and his Queen find a resting-
Tore slendid samples of Norman
au in any` city in Europe.
I am Sir, yours, &c.,
cAt.N4.AMERICAN TRAVELLER.
London O

.....
'SAN UkrnoLtc Mta A.CLES.— -We may be partly
prepared to believe in Roman Catholic miracles, as soon as
br,V,ll„O, following miracles accomplished:—As. soon as
A.•
_omit is taught to keep in his head a respectful tongue.
1-,;_;",.11 as the Roman Catholic priests cease instigating thee
',,t_). flesh against England, and impressing them with the h.l.3cetl notion, that England is the source of all their
r..v,ertY and Woes.
. As soon as Cardinal Wiseman has sue-
Abbe in rearing the 4. ' radise" round Westminster
dressy which he talked littles
tboastingly'l about in his ad-
th°B3 soon as the Popee practises in all his actions
;La.`-..Le_ext benevolence heprofesses in all his words; and,.
e first proof of it, ieleases the hundreds of poor priso-
teallien,loNavecaonhfi:ed for political offences in the dungeons of
cathedral t me. As soon as the Pope allows an English
Roman Obe built in the centre of Rome, as we allow a
soonas
tchaethedral to be built in the middle of London. A s
repii,, bod soldiers re
:French a driven out of Rome, and the
the above 31-guard consists of none but Romans. As soao.n..a:
I,_. e extraordinary events are accomplished we sh 11 b
better
acedprep to believe any impossibility in the way of
tctures hwink, or statues that bleed, or cabbages tohfaat
leeze, or anything else they please • for nothing short t
&attract°
litterlv •
can bring to pass file accom' plishment of even s so
itre . mprobable, if not perfectly impossible. When they
t ae"lnPli*lled, we will promise to be amongst the most
13 übborn believers in Roman Catholic miracles; but till
.the,
,re must be allowed the healthy privilege of a little rational
Incradulity.--Punch-
...SIAM:MAD A
att. L ACCIDENT TO MR. BATTY'S CLOWN. 7 Jai . 'lO.ll, WLO is well known as the clown at Mr. Batty
~,,,PP, idrorne, at Kensington, met with an accident yesterday
ntillt:11 Might have been attended with very serious conse-
iot' 'ea& It appears that after one of the performances he to, °n an omnibus to take him. to his residence, near Islin-
got' ianntd
Flooh as the vehicle was passing along Oxford-street. it
0 a pitchedin the road, and in the violent collision Mr.
ceuivelaa..,_.. off into the street. He of ex-
/133p.1,11fran in bis arm, and was taken to the Charing-cross
the h ' 'whre he was seen and attended to by Mr. Dalton,
1
dislocated 81,4,,rg?0n, who found one of his wrists frightfully
he f" and 7 t"e fall• All the aid of surgical skill was ap.
10-oh, ..:litbue°ldisjoin.ted bone set; but it is probable Mr.
e I
e
...,e better
It would b
accidents wereifu
to follow his avocation for some time.
these ac • Potavlieambleenttos were in such a state that
Noire
arrived,.. _ LIPORTATIoN.—Yeiterday the Diana
it'll' the river, from St. Petersburgh, with a cargo of
iioap)rtation of
`"'3laa f.sausages, ox and reindeer tongues. This is the first
the novelty Russian sausages that has taken place, end
i 3 Viewed with mush curiosity.