The Sun.
London, England, 1858-03-30 00:00:00

LLOYD'S SAIPPING.--(This Day.)

LONDON, March 30.—Wind this day a: noon, S.W.;
light breeze, and cloudy with rain.
FALMOUTH, March S.W. —Sailed—,General
Sale, for New York.
SWANSEA, March 29.—Wind S.S.W.—Arrived —Thos.
Daniel, from Coquimbo.
PLYMOUTH, March 29—Wind S.E. —Arrived—Eleanor,
from Moulmein.

COWES, March 29.—Wind E.—Arrived—Caroline
Middleton, from Callao.

SHIELDS, March 28.—Wind S.S.W.—Sailed—Keep-
sake, for Quebec.
BELFAST, March 30.—Wind S.W.—Sailed—Standard,
for Miramichi.

JERSEY, March 28.—Wind E.N.E.—Sailed—Glory, for
Monte Video.
PILL, March 29.—Sailed—Margaret, for Tobago ; Dora,
for Barbadoc3.

(BY ELECTRIC TELEGRAPH.)
SOUTIUMPTON, Tuesday Morning.

Wind W., rain.

Arrived—bundonald, from Newport ; Wonder (s), Jer-
sey ; L'Etoile, Cherbourg ; Selina, Swansea ; Alliance
(s), Havre; Sultan (s), Alexandria; Ben .res (s), Clyde.
Sailed—Panther (s), for the Mediterranean ; Havre (s),
Havre; Express (s), Jersey.

LIVERPOOL, Tuesday Morning.
Wind W.S.W., fresh.
Arrived, March 29.—Sialonds, George, Rappahannock,
and Ocean Monarch, from New Orleans; Bannockburn,
Charleston; Ann Mary, Singapore; Oberon, Pernambuco;
Vesta, Rangoon ; -United, Buenos Ayres ; Grand Master,
Matanzas ; Princess Royal, Monte Video.
Arrived, 30. —Elwy, from St. Domingo • Earl of Hare-
wood, Rio Hache ; Anew), Venice; C. "3, S. Pennell and
Ashland Moore, New Orleans ; Amelia, Lisbon; Youth,
Aspinwall.
Sailed, March 28.—Agenoria, for Stettin.
Sailed, March 29. Revenie, for Trinidad; Huntress,
Frederica ; Sunder Jylland, La Guayra.
Off—Shuttle, from Maceio; Janet Kidston, Mobile ;
Forest King, New Orleans.

(BY SUBMARINE AND BRITISH TELEGRAPH)
GRAVESEND, Tuesday Morning.
Wind W., tide let hours' flood, weather tine.
Arrived, March 29.—Excel, from Ostend.; Elizabeth
Ann, Calcutta; Belfast Lass, Bing.,ss; Fronkie, Dorcun;
Crispin, Guernsey ; Reornanso Queridos, Bilboa.; Emma
Eden, Guernsey ; Furt.t, Gravelines ; Chapman, Foo-
chow-foe.
Arrived, March '.'.o—Star, from Nieuport ; Lord Coke,
Dunkirk.
Sailed, March 30 —Thames, steamer, from Hamburg ;
Rowena, Monte Video; Derwent, steamer, Genoa; English-
man, Madras; Belgium, steamer, Ostend.
DEAL, Tuesday Morning.

Wind S.W., moderate.
Passed—Malcolm, from London, for Cardiff ; Isabel (s),
St. Michael's, the north.
Sailed—Westburn, for Hong Kong; Eclipse, Madeira;
Wanderer, St. Lucia.
There is a brie,p on the Goodwin Sands, called Active, of
Whitby, in ballast ; several boats are gone to her assist-
ance. She is not observable from the shore,

TO THE EDITOR OF THE SUN.
SIR, •—•. liaxim,-; aocepted tb prineiC.

3 of Fite

Trade, flon't let us do it by Laivci; ; don't pro-

;ccltion to one class more than tv kin° thr, tar less

;o a class who have least need of protection, the

capitalists, alias the Hard Calculators.
As we have accepted, as a sine qua non, the abo-
lition of the Corn Laws, we must also make up our
minds to forego that rather expensive t,y, the
Bank Charter Act, as all the objects for which this
was framed have entirely failed—viz. :
Ist. It has failed to prevent the sudden contrac-
tion of the currency, by which a commercial crisis
is brought on, but aggravated it tenfold, as wa
found to our cost, in the calamities of 1847 and
last year.
2d. It has failed to insure the convertibility of
the Bank of England note, for, most assuredly, it
the act had not been suspended, the Bank of Eng-
land must have stopped payment. On the 12th
Nov., 185'7, the day the act was suspended, the
bullion in the Bank was only 7,170,000/., whereas
its liabilities were 40,875,0001. ; these figures at
once showing the inability of the act to secure the
convertibility of a Bank of England note.
3d. It is said it checks speculation ; it does the
very reverse, it encourages speculation. When
gold flows into the Bank it immediately issues notes
to the value of the gold, thus, when there is a
great influx of gold into the country, which, by
the way, the Bank is obliged to buy, it forces its
notes out when they are not required, reducing the
rate of discount to something like 2 per cent., thus
giving at once the greatest possible encourage-
ment to speculation by the cheapness of money.

There is not a more dangerous currency than
that based on the retention of gold in this country.
It is impossible to retain gold in the country suffi-
cient for its wants. However, it is not gold, but
notes that we want. Why limit the Bank of
England for the issue of notes and securities to
14,000,0001. ? Look at the cousequeucea of such a
measure. Suppose two bad harvests in succession,
a large excess of imports over exports, or any other
cause that would drain the gold out of the cow, ry,
the Bank, instead of exieieling its issues to the
amount of the gold so withdra Fyn,. contracts them,
causing at once a double pressure on the Bank
itself ; creating at once a stagnation in all business
transaction, a general feeling of distrust, a panic,
the most respectable houses suspend; this continues,
say for three weeks, every thy adding larger and
more numerous failures, till at last comes the
Old Lady's turn iu Threadneedle-street, and there
are just two alternatives—national banktuptcy, or
suspension of the Bank Charter Act.
Ministers who have ptkeviously turned a deaf ear
to all petitions to suspend the Act, answering that
they will see the country ruined (or to the same
effect) merely to secure the convertibility of a bank-
note. At last they are eoerced, the Act is sus-

pended ; it is enough, the panic is over ; the people
don't want the note•, they only want to know that

they can get them, and confidence is again rei•tored.
But what has it cost the country. It has ruined
thousands, stopped factories and works iu every
part of the country, thrown millions out of employ-
ment or on half time, and. the loss by the deproeia-
tion in the value of sha,ee and all other property
incrediblt.. It is ab dd assertion, but I believe
nevertheless true, that half the farmers in the
United Kingdom are at this inommit all buc in a
'state of bankruptcy.
Who benefit by the Bank Charter Act ? It is the
capitalists, they who have lately pocke:,ed the
usurious rate of 10 per cent. for their money.
Their own organ b rested some time ago that it
had made one sovereign worth two, which is toque
valeut to reducing every other species of property
cent. per cent., showing at once who alone are
the benefited by the act. Before the act was
passed the rate charged by the Bank of England
for discounting bills was never above 5 per cent.
except on one occasion, when it rose to 6 per cent.,
but only for little more than a year. This is a
fact worthy of notice. Are we again to be
subjected to all the horrors of an 1847 or an
1857 ? if we are it will be our own fault.
I say again, let us have Free Trade, and no Pro-
tection to the monied aristocracy, I say let us have
the abolition, the whole abolition, and nothing but
the whole abolition of the Bank Charter Act of
1844.

A SCOTCHNIAN.

Leith, March 20, 1858.

THEATRE ROYAL, DRURY-LANE.

The first of the series of the Pyne and Harrison con-
certs took place at Drury-:ane Theatre last evening.
The programme was judiciously selected, and the
orchestra, conducted by Mr. Alfred Mellon, was very
effecive. The concert commenced with a synii)bony
by Beethoven. Madlie. Finoli then ,aag Rossini's
beautiful cavativa, " T.Lia von.) paco fa," iu her usua,
effective and brilliant style, leaving nothing to be &
sired, and the audience evinced their appreciatlon of it
by a most enthusiastic cal fur a repettaoa. Later in
the evening this accomplished artiote sang the lively
brindisi "Il Segretu" by Donizetti, and a very charming
romanza by Morlacchi, " Cara suono Lusingbier," for
which she was greet,cl with the warmest demonstrations
of applause. We r ongraturate Hiss Loui,a. Pyne and
\Jr. W. Harrison on having engaged so pleasing and
talented a lady, who certainly proves a very dreat ac-
quisition—the more psrticularly as we are deprived of
miss Pyne, in no,,sequer,es of a doineotic afitctioo._

Miss Arabella God iard's pert,:rmauce of a concerto in
C Major, by Mozart, and Thalberg's solo on the eLeme
of "Home, sweet Home," were grand, an,l applauded
to the echoes. Mr. W. Harrison was eff,ctive i❑ Weber's
" Oh, 'tis a gloriou- sight to see,' and Baiie's " We may
be happy yet." Miss Tairlwal, quite a young lariy,
charmed her audience by the veil pleasing manner in
which she tang Moz trt' "13Atai I batti I"
Indeed, the whole perl,r,nances went off admirably,
and gave univenal satisfaction.

MARK a VI B bl. —(This Day.

HAY MARKETS.

SMITHFIELD.—Meadow hay, 21 108 to 41 53; clover.
31 lOs to 51 Os ; and straw, 1/ 53 to 11 103 p©r loan.
A fair average supply, and trade rather slow.
CUMBERLAND. —Meadow hay, 21 10a to 5.3 ; clover,
31 103 to 51 Os ; and straw, 11 Os to 11 103 per load.
Trade lesa active.
WHITECHAPEL.--Meadow hay, 21 103 to 41 4i; clover,
3/. 103 to Os ; and straw. 1/ 53 to 11 103 per loan.
A slow inquiry, at our quotations.