The Sun.
London, England, 1856-09-13 00:00:00

THE sluN, C,UNDO;--4, SA rURDAY hvENII4O- S 1 PTII M [ol 1 1 "i-8511:

persuade JOHN BULL to unbutton his purse strings.
The gorgeous spectacle now being enacted at
Moscow is but a part of the game. Men who are
getting up a great swindle generally commence
by taking gorgeous offices, and indulging in a
lavish outlay. It is well worth the C'AR'S while
to expend the greater part of a million sterling,
in exhibiting to the gobemouches assembled at
Moscow an ostentatious display of the miraculous
powers, and apparently illimitable resources,
of his extensive empire. With absolute con-
trol over the lives and properties of his sub-
jects, with the knout and Siberia as potent
instruments for exacting obedience to his Ukases,
it is easy to get up an imposing spectacle, calcu-
lated to deceive better-informed persons than the
gaping sight-seers, who (as Dr. FRANKLIN said)
are "paying so dearly for their whistles."

We would, therefore, once more, emphatically
warn our countrymen who have more money than
wit not to be taken in by the gorgeous bubbles.
No true-hearted Englishman would touch the
accursed thing—would invest his capital in mat-
ters
calculated to deteriorate the prospects of per- •
manent peace and tranquillity in Europe, and to
call for exertions and sacrifices, ere many 1
years have elapsed, that must tell heavily
on the prosperity and welfare of his
❑ative land. But to those who are regardless of
higher motives we address ourselves. Let them.
carefully examine the position and prospects (A
the contemplated undertakings before they prat
with their money. Let them consider what will
be the prospects of payment in the event of an-
other war. They may even yet find more pro-
fitable investments at home or in the colonies.
They should also remember that under the existing
monetary code the exportation of so large an amount
of specie must necessarily damage the money
market, and lead to pecuniary embarrassments
likely to cripple the sinews of industry, and pro-
duce difficulties and distress among the working
classes greatly to be deprecated.
Let every man well consider the probable con-
sequences before he participates in the transac-
tion ; and should he do so when thus
warned, he will be unworthy of British sym-
pathy however serious the losses he may sustain.

" The Constitution is on its trial," quoth
PRINCE ALBERT, at the banquet at the Trinity-
house. We cannot be accused of uncourtly pre-
cipitancy if, after the expiration of a twelvemonth,
we demand—What is the verdict ?

" Why, that it is a glorious Constitution, stout
and enduring as our native oak. A Constitution
whose elasticity and buoyancy are such that
foreign fraud has not bawl able to contract it,
nor German phlegm to sink it. A Constitution
that has in it the elements of immortal youth, and
gives promise of surviving, in renovated vigour,
the crash of falling dynasties and the wreck of
empires whose only cement is blood." Not r,o
fast, dear reader, with that English faca of yor,rs,
radiant with the noble enthusiasm of a freernan.
The jury impannelled was a jury of Germans,
and the verdict asked for must come, not from
your, but their hands.
_

" The Constitution is on its trial." What is
the verdict We pause for a reply. In de-
fault of an answer, we must have recourse to
speculation, and cast about to discover of what
nature it is likely to be. And we have not far to
seek ; for the very fact of its being put on its trial
by a German argues a foregone conolusion on his
part, and affords but a sorry augury of the de-
liverance of his compatriots. We are not left,
however, to a logical deduction which may be
artfully evaded. Our foreign intelligence helps
us to something more conclusive. The reader
has but to turn to another column, and he will
find—" A royal proclamation has just been issued
abrogating all the articles of the Hanoverian
Constitution of 1849, relative to the interference
of the Chambers with questions of finance !"
Decidedly a verdict against our unfortunate Con-
stitution ! Though nourished from his infancy on
the British soil, and with the help of British gold
—though indoctrinated in the principles of the
British Constitution by his ostensible tutors—
thongh impressed with the greatness of tho Throne
between which and him there was long but a
single life, and having had abundant opportunity
to ascertain the source of its greatness, the poor
blind King, cousin though he be to our most
gracious SOVEREIGN, once surrounded by German
bureaucrats, has cast every principle of Constitu-
tionalism aside, and thereby testified, in a manner
the most decisive, how he has learned to regard
our Constitution, and what fate must be antici-
pated for it should Germanism be suffered to gain

the ascendancy.
With the utmost soberness, let us say—regret-
ting, as we must, this inroad on Constitutionalism
—our regret is sharpened for the moment by the
confirmation it affords of our often-expressed ap-
prehensions. For the moment, be it remarked,
for we c tnnot doubt what will be the effect of
the revelation. If the people of this country
have not lost all claim to their traditional cha-
racter for prudence and forethought—a contin-
gency we cannot for an instant entertain—a
decided check will be administered to Germanism.
The lesson following on the practical over-
throw of the Spanish Constitution, and the
abortive onslaught at Neufchatel, is too clear, for-
cible, and apropos, not to be seriously entertained.
The interference of the Chambers with questions
of finance is an interference essential to the very
existence of a free constitution. Without it a
constitution is a farce, with it a stern reality—
or may become so. The levying of ship money
or the interference of CHARLES the First with the
indisputable right of the Commons to vote or
withhold the supply led that wretched tyrant to
the block, so all-important was the right of the
Commons believed to be to the existence of the
Constitution. Since his day no English monarch
has dared to slay but a finger on it by way of
menace. Hanoverians, to be sure, are not Eng-
lishmen, and possibly may not resent this glaring
invasion of their liberties as Englishmen would.
The catastrophe in such case is so much the more
serious, as it affects liberty. What, however, the
Hanoverians are likely to do or not do it is not
our intention to discuss. The interests and the
welfare of our own country and our fellow-country-
men are nearest our heart, and in enabling our
readers, by considering this and that fact together,
to draw their own conclusions as to the reality of
a danger frequently adverted to in these columns,
we have fulfilled our intention and discharged a
duty not without some hope of success. Against
individuals we have no animosity—but German-
ism as antagonistic to constitutional liberty
challenges not merely the hatred but also the
watchfulness of every free-born Englishman, and
in this light we cannot but regard it.

returned.

The Marquis of Exeter has arrived in town from
Germany.
The Earl of IVlalmesbury has returned to Heron Court
from a tour of visits in the north.
The Countess of Glengall and the Ladies Butler are
making a round of visits in Scotland.
Viscount and Vicoun tees Campden have been visiting
Mr. James Duff, M.P., and Lady Agnes Duff, at C' rr
riemulzie Cottage, N.B.
Lord and Lady Lyndhurst and the Hon. Miss Copley
are still sojourning at Dieppe, and will visit Paris prior
to their return to town.

LATEST NEWS.

TRIESTE, SATURDAY MORNING.

CONSTANTINOPLE, Sept. 6.—The Russians are

fortifying the entrance of the Boug, and the
banks below Nicolaieff. The English fleet has

The Isle of Serpents is evacuated, and the
Gladiator has left.
The Sultan has bestowed the sword of the Med-
jidie on Admiral Sir Houston Stewart.

THE INDIA MAIL.

MARSEILLES, FRIDAY MOR NINA.

The mail from India and China arrived last

night at ten o'clock, and will leave here at ten

o'clock this morning.

MADRID, SEPT. ii.

The Gazette publishes a Royal decree accepting
the resignation of M. Escalante as Spanish minis-
ter at Washington. A Royal ordinance limits
the exercise of extraordinary powers to serious

sound the diplomatic body of Frankfort, but every-
thing was confined to preliminary discussion.
Count Rechberg, the Austrian representative at
the Diet, has constantly asserted that he has re-
ceived no instructions from his government with
respect to the question ; but, on the other hand,
M. de Bismark Scho3nhausen, the Prussian envoy,
is said to have declared that his government would
entertain no serious objection to the admission of a
Sardinian minister to the Diet."

The Prussian Government, it is said, is about
to create tribunals of commerce, a kind of institu-
tion much desired by the commercial interest in
Prussia.

torus which is prohibited in Vrance. ft iS thefe-
fore hoped that the customs legislation of France
with respect to this produce will be modified be-
fore long."

The Opinione of Turin says :—" There is a story
current at Milan of Marshal Radetzky's having
lately drunk a toast to the King of Sardinia, pro-
mising to pay him a visit at Turin next spring.
On the other hand, we learn from Parma that it
was Count Stackelberg, the Russian envoy, who
persuaded the Duchess of Parma to raise the state
of siege and to suppress the military tribunals, or
courts martial ; expressing, moreover, an opinion
to the effect that her dependence upon Austria was
neither useful nor in accordance with her dignity."

The Bilancia of Milan having lately stated the
Pontifical forces at 14,500 men, the Risorgimento
of Turin observes that that number admits of con-
siderable reduction, and that the real force of the
Papal army is not more than 8,000 men, viz.,
7,400 infantry and 600 cavalry, exclusive of two
companies of artillery with 12 pieces of cannon.
The Papal fleet (!) consists of a 12-gun brig, which
is to be sold, and two small steamers that only put
out to sea by day.

Count Ernest von Stackelberg, the Russian
minister to the Court of Turin, arrived at Parma
on the 3d, to present his credentials in the same
capacity to the Duchess Regent.

ROYAL BRITISH BANK.

Last night Another meeting of the depositors in the
Royal British Bank Was held in St. Martin's Hall, Long-
acre, to receive the report of the committee of depositors,
appointed at the meeting in the same piano on the pre-
vious Friday evening, with the view to obtain an imme-
diate investigation of the affairs of the bank, and to take
steps, legal or otherwise, for recavalng payment of the
deposits. Mr. J. Wyld, of Charing-crose, was again called
to the chair. There were between 400 and 500 persons

present, all of whom were depositors, as each roan Pre-
senting himself for admission was obliged to show
pass-book with the bank. The great majority of the audi-
ence seemed to be mechanics, small tradesmen, and
clerks, including a few women, with a small number of
persons in easier circumstances, and they might be taken
AS a fair representation of the creditors of the bank.
Their demeanour throughout the proceedings was marked
by the greatest temper and decorum. It was stated inci-
dentally by the Chairman that the total aggregate
amount
.of deposits lodged with the bank was at this m-
ama in round numbers 650,0001., showing the hold the

institution, which had not been Many years in existence,

had obtained over the savings of the small trading com•

munity.
The CHAIRMAN said, in pursuance of the resolution
adopted at the last meeting of depositors, the committee
of depositors then appointed, with himself at their head,
met at the Royal British Bank on Tuesday last, and had
3,n interview with the directors, and, having laid before
them the resolution passed at the meeting of depositors
held at St. Martin's Hall on the previous Friday, re-
quested to be informed if they wore prepared to carry
gut the proposition submitted by the City committee to
that meeting on behalf of the directors and shareholders;
when they were informed by the directors that the pro-
position was not authorised by them, and they were not
prepared to enter into any arrangement to carry out the
proposition to repay the depositors—viz., ss. within one
month, ss. within 3 months, ss. within 6 months, and
ss. within nine months ; although they stated that a
uggestion had been made to Mr. Sheridan and Mr.
Richardson on a similar basis, and that Mr. Sheridan
bad been authorised to attend the meeting to be held in
St. Martin's-hall on their behalf. The directors further
stated that they had no proposition to make until after
Mr. Coleman had made his report, which they stated
would be, they thought, of a more favourable characterthan at first anticipated, and that after the reception of
Mr. Coleman's statement they hoped to make arrange-
ments with some other establishment for the repayment

of the deposits to the depositors, and that they were at
this time in negotiation with an establishment for that
purpose. They added, that the statement of Mr. Cole-
man would be completed before the end of the present
week. The committee then required that they should
be allowed an investigation into the accounts of the bank,
in accordance with the resolution of the meeting of de-
positors. After considerable discussion, the committee
requested that a reply, in writing, should be made to
them by the hoard ; and, after a lapse of two hours, the
following letter was received by the committee from the
Chairman of the bank

" Royal British Bank, Threadneedle-street,
London, Sept. 9.
" The directors beg to inform the committee of deposi.
tors appointed under a resolution of the public meeting
held on the sth of September current, that the proposi-
tion' to pay the depositors of the bank by certain specified
instalments did not emanate from them; the gentlemen
representing the depositors, assembled at the bank on
Friday, the sth, having been requested solely to ascertain
whether an offer on the part of the directors to pay in-
stalments according to their ability would be a sufficient
inducement to the depositors at large to withhold the im-
mediate pressing of their claims.
" With regard to the application of the committee to
investigate the affairs of the bank, the directors beg to say
that a public accountant of eminence in his profession has
been employed to furnish a balance-sheet, exhibiting a full
and explicit statement of the value of the bank's assets for
the shareholders, which will be laid before the committee
when completed.
" In the meantime the depositors may rely upon the direc-
tors doing all in their power to protect their interests.
" EDWARD EsDAILE, Chairman."
Upon the receipt of this letter, which the committee did
not think satisfactory, another interview was demanded,
which took place, and the committee, finding that the
conduct of the directors was very unsatisfactory and
inconclusive, deemed it their duty to demand of the di-
rectors-Ist, If they were prepared to carry out the
arrangement proposed by the city committee, with their
sanction, to the meeting on Sept. 5. This proposition,
after much discussion, was repudiated by the directors,
who wanted the committee to obtain the signatures of all
the depositors to the proposition before they would enter-
tain it. ("Shaman It was eeked, 2dly, if they would
furnish the committee with the means of investi-
gating the position of the bank, and allow measures
to be taken for the preservation of the funds at pre-
sent in the custody of the directors 1 That proposition
was refused. 3dly, It was demanded that the directors,
during the time Mr. Coleman was completing the ac-
counts, should allow the committee, or any two members
of it, to attend and become acquainted with all the acts
of the directors. That was also refused ; and the directors,
through the deputy-governor, desired the committee to
suggest to the depositors to wind up the affairs of the
bank in the Court of Chancery. '(Renewed cries of
" Shame !") So that after discussing the matter with
the directors for nearly six hours on Tuesday, that was
the result—the directors repudiat-d the proposition to
which they had previously assented. That proposi-
tion the committee of depositors had thought was an
honourable arrangement, and one which would have
tended to the advantage of directors, depositors, and
shareholders alike, inasmuch as its object was to settle
the affairs of the bank in an amicable way, and
.to
avoid, if possible, a. protracted litigation. (Hear,
hear.) As the law now stood, the bank, not hav-
ing committed an act of bankruptcy, could not be
made bankrupt, The result was that there was no pro-
perly authorised person in charge of the effects of the
bank, and the directors at this time were subject to no
control in the disposal of the property of the creditors.
(Cries of " Shame 1") He submitted that that was a
disgraceful state of the law, and one which he believed
obtained in no other country in Europe. The depositors
were now entirely at the mercy of the directors. He
had been told there was now 40,0001. in the bank, and
over that sum the directors had the sole control. He
taunted the directors with being guilty of an act of bad
faith with the committee, by repudiating the proposition
to which they had previously assented, and with having
sought to rid themselves of the engagement it implied
by means of a quibble. Through the petitions which
had been filed by certain of the shareholders the
affairs of the bank would shortly come under the
jurisdiction and cognizance of the Vice-Chancellor,
and he urged upon the meeting the desirability of
immediately appointing a committee of depositors
to protect the interests of the general body of
depositors while the matter was before the Court of
Chancery. There was no doubt the depositors would all
get their money ultimately, but the question was whe-
ther they were to get it within the next six months or to
have to wait two or three years for it. He saw no rea-
son why, if the interests of the depositors were vigor-
ously represented before the Court of Chanceey, the af-
fairs of the company might not be wound up within the
next six months. (Hear.)
Mr. LINDO, a solicitor, described the proceedings
which had taken place in the Bankruptcy Court, in the
matter of the bank, as already reported in this journal,
and expressed an apprehension, founded on his profes-
sional experience, that the affairs of the company would
not be wound up in the Court of Chancery in less than
two or three years. He knew of no ground on which the
application of the shareholders to have the affairs dealt
with under the Winding-up Act could be opposed, inas-
much as it was a right with which they were invested by
law, but he recommended the appointment of a committee
of depositors to watch the proceedings in Chancery, and
see that there was no unnecessary delay.
Mr. RICHARDSON, one of the committee of depositors
appointed at the previous meeting, said, the proposition
which the directors bad since repudiated certainly ema-
nated from the depositors, but the directors adopted it
when submitted to them. (Hear.) He had bad several
interviews with them, and he had seen their disposition
for equivocation and deception. Besides, several of
them had admitted their own incompetence as directors.
One of them told him (Mr. Richardson) that Ise had been
dragged into the concern, that Es did not understand the
business cola director, and was, therefore, not competent
to discharge it. (Hear.) Another said he had been for
years a director of the bank, and had never looked into
its accounts at all. (Cries of " Shame !" and " Name!")
He declined to give the name, but would abide by the
statement he had just made. He concluded by moving—
" That the meeting, having heard from the Chairman
the report of the committee of depositors, expressed its
surprise and indignation at the repudiation by the direc-
tors of the terms assentei to by them on the 51h of Sep-
tember as the basis for settling the affairs of the bank."
The motion having been seconded by Mr. WILKINs,
a depositor, from Reading, was put and carried unani-
mously.
Mr. SHERIDAN defended the equity of the proposit-
tion submitted to the directors, and agreed to by them
on the sth, and argued that it was not until the pro-
ceedings in the Court of Bankruptcy failed, by which
it was sought to make the concern bankrupt, that they
thought of repudiating it. He said he held in his hand
a statement made by the directors themselves, showing
they had at. this moment 48,0001. in their hands, and
he should like to know what they were doing with it.
(Cheers.) He noticed that day that the City Article
of the Times, which was always written with great
care and discretion, pointed, though somewhat ob-
scurely, to something like loans between the directors
themselves ; and he should like to have that matter in-
vestigated. He proceeded to read and hold up to indig-
nation a circular letter addressed by Mr. Crawford, the
general manager of the bank, to the shareholders, so re-
cently as the 11th of August, shortly before it closed,
complaining that many of them kept accounts with other
hanks, and urging them to transfer them to the Royal
British and use their influence with others to do the
came. He added that other joint-stock banks were wil-
ling to lend assistance to the depositors in the Royal
British, citing the City Bank especially, which, he said,
bad offered to advance half the amount of the deposits to
the depositors on the production and security of their de-
posit-book. He now moved "the appointment of a
committee of depositors to watch over and protect the
interests of the depositors at large, with power to add to
their number."
Mr. ALLEN, in speaking to the resolution, expressed
his belief that if the matter were fully inves-
tigated it would be found that many of the
directors had drawn very large sums of money
out of the bank, and were not now in a position to
repay them. He denounced the conduct of the directors
iu taking money from the depositors up to the last mo-
ment before the suspension of the bank, and submitted
that they Would never have their deserts until they

were prosecuted for obtaining money under false pre.
tences, if that were practicable. (Cheers.)
The resolution was also carried, and the gentlemen
nominated to act on the committee were Mr. Wyld,
Mr. Robert Taylor, Mr. W. Clothier, .Mr. John Sheri-
dan, Mr. B. Foster, Mr. George Healy, Mr. W .
Richardson, Mr. S. Green, Mr. Mitchell, and Mr.
Gilling.
On the motion of Mr. B. FOSTER a subscription
was commenced to I,ay the expenses to which the com-
mittee may be put, aL,d. Mr. Robert Taylor of 61, Old
Bond-street, and Lamb eth-terrace, was appointed trea-
surer of the fund.
The meeting then separai'ed.