The Sun.
London, England, 1856-11-11 00:00:00

G NO, F.Mii H. ii 1656

THE ROYAL BRITISH BAN.K.

TO THE EDITOP. OF THE SUN.

SlB,—Observing that reference is again made in yot.:r
columns to the proceeding's of the official manager, I feel
that longer silence on my part would be kjurious to the
interests I represent ; and, although I would gladly have
abstained from c iniment until the decisi.iti of the Vice.
Chancellor has been pronounced, I find that such an
unfair use is made of the delay that I no longer hesitate
to trouble you.
On the 9th of October the Royal British Bank was
adjudged bankrupt, and the official manager well knew
that the.assiti;nees would claim title to all the property
of the bank.
The adjudication was disputed by some of the direc-
tors with the sanction of the Chief Clerk of his Honour
the Vice-Chancellor K'ndersley, who does'not appear to
have been consulted upon the subject, and I have the
authority of eminent counsel for saying that the Chief
Clerk ought not to have given such sanction. The only
per-on who would have been benefited by successfully
di,puting the adjudication was the official manager, and
it was et his instance, therefore, tha, it was opposed.
The publie are alreaay acquainted with the able jude•
ment of the two learned commissioners (Mr. Holroyd
and Mr. Sergeant Goulburn), confirming the adjudica-
tion. Tnere has been no appeal from that j idgment ;
and, indeed, Mr. Reed, the solicitor of Mr. Alderman
Kennedy and Mr. Valiant, stated 'publicly at the
choice of assignees that his clients were anxious to main-
tain the bankruptcy, as being the most beneficial not
only for the crejitors, but also for the shareholders.
Numerous other ahareholders are also in favour of that

course.
At whose instance, then, is the pending litigation, and
who is it that is causing a waste of the assets of the
bank ? I answer—the official manager alone. The ad-
judication having been confirmed,' it was the duty of the
official manager to submit. One word upon the relative
advantage of bankruptcy. Under the winding-tip a race
is going on on the part of some of the creditors, anti
already numerous actions have been commenced against
the official manager, and runny others will be brought.
Judgments have been obtained against the official
manager, and are registered. Each judgment creditor
must therefore be gaid first, and no title can be made to,
the property of the bank until the judgments are satis-
fied. Each judgment creditor may aim; take in execu-
tion the assets of the bank in the hands of the official
manager, and may attach the debts due to the bank from
its numerous debtors; so that under the winding-up the
creditors who can best afford to wait will be paid first,
while the suffering thousands who have no money to
spend in law will have to wait until the c)mplicated
questions between the shareholders are settled, which
may be somewhere about the year 1860.
It is, therefore, an idle mockery to hold out the pros-
pect of equal or early distribution under the winding-up.
Then, again, under the widding-up the creditors, having
piecemeal seized and exhausted the assets of the estate,
may issue execution against any shareholder, al-
th ugh those who may be selected are the very mere most
willing to pay their fair proportion. All those disad
vantages vanish under bankruptcy, which provides for
the equal distribution of property among all the credi-
tors. So that, the asses being speedily realised anc:
distributed, it would only remain for ,a receiver to be
appointed by the Court ox Chancery, as required by the
Act of Parliament, to collect and enforce contribution
from the shareholders, whose rights might be settled
among themselves, and who would be entitled to the
protection of the Court against the proceedings of indi•
vidual creditors so long as they were willing to deal
justly. Then, again, in bankruptcy the expense would
be considerably ress than under the winding up, as it is
well known that in the single item of the reteuneratiori
to tile• official manager, as compared with that of the
official assignee, there would be a saving of several thou
seed pounds under bankruptcy. It is a fallacy to sup
pose that there would be a double expense.
The committee of depositors have from the commence.
meat been unanimous .in favour of the bankruptcy,
being convinced that it is for the mutual advantage of
creditors end shareholders. I may conclude by repeat-
ing the words of the learned commissioner, Mr. Sergeant
Goulburn, in delivering judgment, who said—" I would
express My earnest wish. that all parties would give their
best attention to all that has fallen from my learned
brother, because I am persuaded that if they do so
calmly and dispassionately they can but arrive at one
conclusion—that is, 01;4 the present course of proceed
ings is one in all respects most beneficial to the creditors,

and that it, ought to to sustained for toe benefit of al
parties."

Tru-ting that the sufferings of many destitute and lin
poverzwhed depositor.; in the British Bank may be my
.ipology for intrud ng at this length on your valuat•le
space,—l have the honour t) be, Sir, your obedient

servant,

JAMES WYLD, Chairman of the
Committee of Depositors.
Charing-crosa East, Nov. 10.

SIR .70..7N FRANKLIN.

AI7TOGRAPH LETTER OF THE EMPRESS

EaJGENIE.

M. do la, R,,quettu, one of the distinguished men
whose exact, yet elega,:lt, eruditi.n throws such a charm
over the scientific literature of France, has forwarded to
us a paper which he lu,is drawn up for insertion in the
proceedings of .the Geo graphical Society of that country,
of which, as of many• other learned bodies, he is a
member. This paper is a biographical notice of our

Arctic hero, the lenient ed Franklin: The author sketch( a
in clear and forcible language the circumstances of
Franklin's parentage, birth, and boyhcol—his love of
the sea, his deeds at Copenhagen and Trafalgar, and
? the romantic narrative of his adventures in the frozen
seas. The biogritpher duly tells us of Sir John's gover-
norship of New Zealan cl, and then all that is known of
his last voyage. Toe l thograph is brought into requi-
sition to give faze sinzi/cs.of Franklin's letters • oh irts of
his discoveries are apperlded, and, in a word, with ac-
counts of the searches that have been made for the lost
navigator, the tale is corn plete, and M. de Ia Roquetto
has faithfully and ably digicharged his mission.
As might be expected, the name of Lady Franklin
often appedrs in connec tic n with the noble and energetic
attempts she made for tilt, rescue of her husband. Not
the least interesting document in relation to these exer-
tions of Lady Franklin is a,letter which the. Empress
Eag6nie shortly after her marriage addressed to tier, and
which is now published four the first time. Indeed, we
believe that this is the first private letter of the Empress
that has ever seen the light. The following is the passage
which M. de Ia Roquettehas been permitted to quote : _

"It is, abova all,us a woman and a wife, that I should
with pleasure see France associated with England in
those generous expeditioas, the first object of which is
to rescue a man whose private virtues are surely equal
to his talent, at d his courage, since he has inspired in
you such an admirable eovotion.

" Ultimately I hone that Heaven will grant you the
success that your conjugal affection merits ; and then,
Madam, there will be a person who will most sincerely
participate in the joy of th.e wife of Capt. Franklin—
the wife of the Ewpercr Napoleon."
The amiable and wotae.niy ,implicity of these words
will prove very acceptable, to all who admire the good-
ness of the Empress, :►nd who cherish the memory of
Franklin. That, indeed, will be ever graven in the
hearts of his countrymen. as long as naval daring, scien-
tific enterprise, and love of duty are the honoured
virtues of the British salor. Of our Arctic hero La-
martine has well said—

" Dans la lutte d'un. homme avec un element,
L'oceau triompha, wale fut son monument."

THE LATE COLLiSTONS ON Tlig LONDO.N
AND NORTH-WESTERN RAILWAY.

GOVERNMENT INVESTIGATION.

In consequence of tree tw o recent fearful occurrences
the London and No.rth.V.Testern Railway the Board
of Trade have issued an order for two official inquiries
to be held; that into the disaster at Wolverton, to be
conducted by Lieutenant-Colonel Tolland, R.E. ; and
hat at King's Langley, by Lieutenant-Colonel Wynne,
R.E. The proceedings, it is expected, will be conducted
privately—even the reprek entatives of the press being
shut out; for it seems that the Board of Trade have no
legal right to make any inquiry into railway accidents,
and the inspectors, therefore, merely perform their duties
under the sufferance of the company, who, no doubt—as
in their own inquiries before the directors—will keep
the courts closed. Should such a proceeding be enforced,
the public will, of course, want to know the utility of
.uch inquiries, as the result can only be known to a few
interested individuals, and consequently no good come
by them. The whole of the injured passengers in
the recent serious clllision, including Lord and Lady
Byron, are progressing as favourably as could be ex-
pected.

MARKET NE .—(This Day)

HAY MARKETS.

SMITHFIELD.—Meadow hay, 2/ 103 to 4/ lOs ; clover do.,
31 lOs to 5/ lOs; and straw, 1/ 5s to 1/ 9s per• load.
A fair demand.

CUMBERLAND.—Meadow hay, 2/ 12s to 41 12s; clover
do., 31 108 to 5/ 10s ; and. straw, 11 5s to 11 lOs per load.
Trade steady, at late rates.
WHITECHATEL.—Meadow hay, 21 lOs to 41 103 ; clover
do., 31.10 s to 5/ 12s ; and straw, 1/ 5s to 11 9s per load.
Trade rather dull.

Spirit of the Pa lie Journal?.

(Front the Times.)

The British press is thought by many to act an
undutiful part in parading to all the world the
political failures, the social scandals, and even the
national crimes of the country. If any stranger
wants to see England, her institutions, her Govern
merit, and all that belongs to her criticised with
unflinching candour, he has only to peruse her
journals, and there he will find more than enough
for the most furious philippics. Indeed, the rabid
abuse of England, that constitutes the very bread
of some French and German papers, contains no
more material than Englishmen themselves are at
pains to supply, though served up with the addition
of bad logic and opprobrious epithets. As, then,
we are notoriously no flatterers of our country,
and that is a thing which does not go down among
our own selves, we deserve credit for truth and
sincerity when we do happen to speak a good word
for our country. The good word which has often
occurred to us, and which just now we can speak
with particular emphasis, is, that in no other
country is the Government so speedily and directly
brought to the test of public opinion as in England.
It is not only that tho Minister has to defend his
policy in Parliament, surrounded by colleagues,
place-men, and partisans, and armed with patron-
age. He has every now and then to stand alone in
toe midst of assemblages beyond his control, and of
whom he can know out little. They are there
because they are rich, or powerful, or self-confi-
dent, or factious. They stand in no awe. of him.
They have little else in common than that they are
Englishmen. It was to such a company last night
that Lord Palmerston had to present himself, and,
according to custom, declare himself on the most in-
teresting questions of the day. Emperors may, and
often do, possessthe devotion and confidence of their
Subjects. They may have a large unexhausted credit
for the conduct of public affairs. But it may be
always pretended, and may even be true, that in
any particular affair they no longer carry with
them the hearts of the people, and disaffected
writers may have the opportunity of eseying that
such and such a policy is really unpopular. No
such opportunity can be afforded under our Go-
vernment. Every week tests the question,—is the
foreign policy of her Majesty's Government at this
moment unpopular or nog There are many both
at home and abroad who would affirm it most
gladly if they could, 'or if even a doubt
,could be
thrown upon the question. But here is a jury of
more than a thousand respectable citizens, and
Lord Palmerston is put on his trial before them.
Does he faithfully serve and truly represent his
country or no ? The answer is, that he does.
It is, then, not merely the ruler or the Govern-
ment, but the people itself, that conducts our pub-
lic affairs. Possibly, in some matters of Imperial
policy, where a company or a colony intervenes,
neither Government nor people appears to be con-
cerned till the decision is taken, and to proceed is
inevitable. But this is the misfortune of empire,
and even when we succeed we take little credit for
victories that come so much as a matter of course.
We put these instances out of the question, be-
cause they are put out of the question. The pas-
sions and the conscience of the British people are
agitated on questions either of our home policy or
of our intercourse with our neighbours, and rivals.
Of these, then, do we speak when we say that no
Minister can go on long without being " brought
to book," area confronted with that very public for
whom he professes to act. On these occasions hao
pily also there are witnesses, not only beyond the
suspicion of partiality and connivance, but inte-
rested in detecting the decline of enthusiasm and
the withdrawal of support. No captain ever
counted so closely the, guns of a hostile broadside
growing weaker and weaker as the Minister or
partisan .of a foreign Government watches our
popular demonstrations, our flagging cheers, our
ominous silence, or filtering accents.. A coil re-
ception, or energetic appeal faintly responded to,
is reported to twenty Courts, and distant states-
men know how much they may presume on our
wavering resolves or divided opinions. So, had
Lord Palmerston either felt it necessary to confine
himself to vague generalities last night, or had his
express appea to the support of the country been
received with indifference, no doubt we should
soon have had to perceive the result in a certain
10-s of appreciation abroad. Elsewhere it is thought
a great object to ascertain the precise intentions of
the Sovereign, to measure the influences at work
upon him, to detect his relentings, and to be warned
of his exasperations—the result of common acci-
dent, perhaps of disease, or even more trivial
causes. Here the will at work is that of the people.
If it ebbs or flows, the change is as manifest as the
tides of our own ocean. It has, indeed, now and
then left the Minister stranded high and dry, in
absolute desertion, or split on some rock of political
obstinacy. But hero it is evident the resolution of
the British people, to which Lord Palmerston made
his appeal last night, has not been flattered by a
momentary triumph nor blunted by a certain de-
gree of delay. It is not tired out or perplexed.
Eighteen months ago, by a vigorous effort, it re-
jected the casuistry which said there was no real
quarrel," and that on our heads rested the crimes.of
the war. That was not the convulsive effort of an
hour. The people of England are as ready to dis-
criminate with keenness between the fulfilment
and non-fulfilment of a treaty, between an honest
and a fallacious interpretation, as they were last
year between substantial and illusory conditions of
peace. Nor is there a doubt that the popular en-
thusiasm and stern resolution which then' carried
Government through the war to the Treaty of Paris
needs only the signal to bear us all onwards to an
honourable fulfilment.
The Premier made a significant reference to the
state of things under which we consented to ex-
change war for negotiation. "At the commence •
mence of the present year," he says, " this coun-
try possessed the finest army and the most magni-
ficent fleet that were ever engaged in defending the
honour and the rights of England. The spirit of
the people was roused to as high a pitch as was
ever witnessed in this country." Clause by clause
this glance at the still recent past was cheered by
his lordship's hearers, as was 'also the picture he
drew of the anticipations which the British people
reluctantly but conscientiously gave up for peace.
The assemblage that thus cheered his lordship has
probably as much stake in the continuance of peace
as any equal body of men in the country. They
have become too well acquainted with the horrors
and anxieties of war, and they are still paying its
cost. Nevertheless, at a word, they can look back
to the hour when they everywhere heard the notes
of preparation, when men were recruited in hot
baste, when the whole packet service was impressed
for the war, when every forge, every dockyard,
was employed in the manufacture of ships and
arms; wben, consequently, money and blood flowed
with little account. Their cheers denote how
readily, if need were, they would return to that
state. Is it necessary that Europe, or any State
in it, should want to know in what mood the
war has left us ? There can be no longer the least
doubt on that point. We are what we were—
ready for peace, or for war. To such suspicions as
there might be on this point—to any unworthy
estimate of the national spirit that may have
been made, one answer has already been given
—that of pie public press. There is not a jour-
nal that commands even the lowest degree of
respect with the people of this country that has not
resented the thought that we might be frightened
out of the Treaty of Paris. England has already,
replied that she will not re-open the whole ques-
tion by a general reference to a new Congress. It
is not for nothing that she has disbanded soldiers
and sent ships into harbour. She will not undo
work that has been done, and will only enter a
conference with a distinct understanding of its
subjects. That answer has been' given
ebuyeh an
public press, and nothing was wanted
expression of public feeling as wouldshow
The
e l
it to be
no boast or exaggeration of the
journalist.
reception given o the Premier in the
that
ing districts, andnpopwileast
thetheproof annual
fdstival w
m actur-
ea ufnodf
our
City of London, supplies
ott.mspdokneon with-
out o
huoroakb. e
vc o t
he e
ma
treo rar
doneies
j have
c en,
than justice, to the spirit of our country, as well as
to the spirit of the statesman to whom its destinies
are confided.

(From the Morning Post,)

It is a custom among the English people that at
certain high festivals, of which the Lord Mayor's
dinner is one, the Prime Minister of the country
makes his appearance on a stage somewhat more
public than St. Stephen's, and on which he speaks
to an audience more mixed, but scarcely less im-
poThese speeches not only command, tradi-
tionally, the respect of those to whom they are
specially addressed, but they often contain strong
truths of the utmost importance on the temper of
English policy at the moment. Much, of course,
depends on the character of the Minister who
speaks. The polished, cautious eloquence •of the
late Sir Robert Peel seldom touched on any but
safe subjects. The manly candour of Lord Pal-
merston throws on the reputed dangers of England
a light by which all may learn the position that she
intends to maintain in any difficulties that max
arise. Nothing can be simpler, bolder, or more
modest than the tone of the Premier. Nothing can
be more decided, He holds without the slightest
aba

tarnent the professiqua which thrill( ‘l. the hearts
<'` zll who at Manchester. He toils 14__Ieg-
latid the truth, so long-disguised from her, that she
had at the close of the last great war the finest
army that she had ever possessed—that her navy
was the most powerful that a State had ever boasted

Now, we do not think this haughty and uncom-
promising language becomes the head of a Govern-
ment under whose auspices the contemptible treaty
of March last was concluded—whopermitted France
to take the lead all through the war, and concluded
a peace almost without W question who forgot
what was due to the dignity of England during the
prevalence of hostilities, as well as at their termina-
tion, but now becomes very bold indeed when the
proper opportunity for a display of resolution has
passed away. It may be that the most stringent
treaty which the wit of man could devise, con-
cluded with the deepest solemnity of which a human
ceremonial isht
hac
ada
tp aos
fbu lffiße ,
cu
isew
nioatu_
wl
expert no oedrt
joebnhi
conetd
sosafuy cißht
uwa sos Gui aol ad-
f—vrear,uvnedm
heannatdveasßussian dishonour to forbid any such
charitable belief ; but thatb aisvetheinvsie.ertyearletahoant
aris should have been whyper-
fectlytheinnio,,hotther reason—
fl)
oi infringement f
theiing epmuebnlitei
t,
terms
sG:fy
the treaty
shouldo
clear and explicit--if for
opinionat once c e br i
Europebring
w.
asßnuetithhoewr
precise
ti7beorwdhereltehafotrietes
against the power attemptine.
in its terms, nor can it be said ce
to have been con-
the case? The treaty of
eluded, in the legitimate peace
of that term, at
Paris. One of its mostof important provisions—
namely, the liberationreferred to a commission whose
the navigation of the
Danube was
by the conditional arran
labours have not really
arises, commenced. About the
Moldavian or Bessaraja
gefmroennttiecroantaqiuneesdtioinn im-
mediatelytheand ißaussia refuses to be guided
31st article. In this refusal not onl can Russia
afford to laugh a.
nion to effortsbearagainsoturher,
sup-
ported by Prance ;
colli-
sion, James'sthe alliance
it will soon recover.
but t
she
eis brine actually public opi-and of St.the Cabinets of the Tuileries
naeree
rat)!
eoivnecse
abreohuogekh tfrionmto
weboilelih-
So much for that straightforward British policy
which Lord Palmerston so coolly claimed credit for
before a credulous Manchester audience. We con-
fess we look to results as the proof of the wisdom
of any course of action ; the results of the treaty of
peace have been to prepare the way for the renewal
of hostilities with admirable success. Russia will
not consent to the neutralisation of the Black Sea,
nor yet to the freedom of the Danube. We could
have forced her to do so, and could have disabled
her from breaking faith ; we surrendered an oppor-
tunity, and our crafty foe has profited by our folly
and our weakness. •By the latest accounts from
the East we learn that the Russian Government is
about to place in the Black Sea 26 post steamers,
six other steamers, 10 tug steamers, and 20
" barques"--all of them in excess of the stipula-
tions of the treaty. These vessels will, of course,
be armed, and their crews are to have the uniform
and discipline of the Imperial service • and
further stated that ?materiel of war has been it is
sent
by sea into Sebastopol, and troops co
who now stigmatises
ttransport i
Russian
no
breachSo u k u mo
fKfaailtehh
not, it was this very Minister
uncom-
promising severity, that six short months
logised in his place in the lion ago apo.
se for the occupation
by Russia of the forts on th
Euxine. We can only say thst the consideration
then shown by the Minister to our recent foe has
been turned to s vLry
(1"
i d iPell id
eastern
account.Bll t , languagei
f shore
no vf emy
oetta 11
3'h:

, Lr.rD 1),,c,n-T1 - -
' '' - ' ''.--,l' C:r GL A ,OW UNIVEESITY.--The
Edinburgh, Courant says :—Lord stanley, ALP:, has
been started by anotherclub of students, who are devising
energetic means to carry him. Sir John Herso4ll hair
also been spoken of.

SUN 0R.?11.7E, Severn O' CIAO; .

LIVERPOOL RACES.—(This Day.)

(BY LLECTRIO TELEORAPII.)

Gay •
Catharine Parr...
trzella

AINTREE PLATE.

Eight ran. VVon by half a length.
SELLING STAKES.

Spinet

Blossom ..

Seven ran.
NURSERY. STAKES.

Co caberland
Odd Trick
Ella

Twelve ran.
JUVENILE STAKES.

Wild Strawberry
' Breach by Storm.
Cock Robin

Four ran.
WELTER CUP.

Johnny Taft
Lough Bawn
Ravellee.

Eight ran.

- 3

LONDON GAMTTE—(This Evening.)

FOREIGN-OFFICE, OCT. 31.
The Queen has been graciously pleased to appoint Chas.
Blunt. Esq.. now her Majesty's Consul at Salonica, to be
her Majesty's Consul at Smyrna.
The Queen has also been graciously pleased to appoint
Charles John Calvert, Esq., now British Vice-Consul at
Larissa, to be her Majesty's Consul at Salonica.