The Sun.
London, England, 1867-01-28 00:00:00

RAIR-CURLING FLUID, 248, High Holborn,
London.—ALEX. ROSS'S CURLING FLUID ettrb.
Ladies' or Gentlemen's hair immediately it is applied. Sold
St ng ad, 58 6d, and lOs 6d ; sent free for 54, 84, and 144 stamps
—llad of all Chemists.

CI
HAIR.-248, High Holborn, LoPrlun._
CI ALEX. ROSS'S HAIR DYE produceP
tural in etre t. Price 3s ed. bg ' . perfectt colour
Immediately it is used. It is perms^ - a
for 54, Si. and 111 stew,- __.,,i, end lOs ed ; sent by post
--------------- ..-. ; and all Chemists.
_cut, and perfectly
}TAP) -
._.. DESTROYER,-248, High Holborn,
London.—ALEX ROSS'S bigPILA.ToRY removes
superfluous hair from the face, neck, and arms, without effect
to the skin. Price 3s 6d, 5s id, and los 6d; sent for 51, 84,
and 144 stamps.—Had of all Chemists.

DIMPLE REMOVER.—All diseases of the
skin are improved by one dose of ALEX. ROS VEGETABLE SKIN PILLS. They remove redness, sal-
S g
lowness. be. 2s gd and 7s ed ; or pcst for 49 and and all 214 High Holborn, London, and all Che-
mists. ROSS,

HAIR COLOUR WASH.—By washing the
heal with this beautifully-perfumed Wash, in seven
or ten days the hair assumes its original colour, and remains
so by an occtslonal usinr. lOsed ; sent for stamps.—AL LX.
ROSS, 244, High Holborn, London, and all Chemists.

HOMELESS BOYS OF LONDON.—FUNDS
SHIP.
are earnestly solicited for fittlnv, up the TRAINING
required.

WM. WILLIAMS, Secretary.
Boys' Refuge, 8, 14reat Queen-street, N.C.

OMELESS BOYS OF LONDON.-..CON-
TRIBUTIONS are earnestly solicited for establishing
the COUNTRY HOME. £l,OOO required.
WM. WILLI XMS, Secretary.
Boys Refuge, 8. Great Queen-street. W.C.

TIOAIELESS BOYS OF LOND ON. —The
Commit a forre most anxious to provide 400 bos. One hundred atee nd fifty are now in the Refuge. The annuyal
expenditure for supporting the 400 boys is estimated at
£6,oie, being Zl5 a year for each boy. Several kind friends
have promised to pay for one boy each year.
Subscriptions thankfully received by the London and West-
minster Bank, 41, Lothburv, and 214, High Holborn; Messrs.
Ransom and Co., 1, Yall-Mall East; and by
WM. WILLIAMS, Secretary.
Refuge, 8, Great Queen-street, W.C.

TIIE RESCUE SOCIETY wishes to add another
Lome to the 12 now in operation. Last year no fewer
'ban 455 pt'or, friendless, young females were rejected from
want of rum DS and room, making a total of 3,087, who have
been sent away in Live years.
rhe new home the Committee wish to form would be for
young girls, almost children, Pram the age of b to 15, wh(
have been led astray from the path of virtue.
Contributions will be received gratefully by th. ^
'!r. Daniel Cooper, 35, Queen • street, Cheap.' -
'effeLarY.
Barclay and Co., Lombard-streetw or by illessrr

OYAT, F"'"
AI,EE HOSPITAL, Gray's-road,
immediate vicinity of the Great Northern Rail-
woY aminus, King's-0M t.
Patron—MT Rost Gracious Majesty the QUEEN.
Vice- Pis=lt—His Royal Highness the Prince of WA.LE 8, It G.
President—His Grace the Duke of BUCCLEUCH. E.G.
This Hospital, founded in the year 1828, the first to estab
lish the prinoiple of free admission to the sick poor, withou
the delay and difficulty of Governors' orders. is wholly de-
pendent for support on voluntary contributions andiganes.
It affords relief to a large number of in-pa lents, and, in
addition to this, the average lumber of attendance of the
destitute sick has for a considerable period averaged between
3,000 and 4,000 weekly.
The Committee ear estly solicit the ASSISTANCE of the
benecolent, as the pr nises of this Hospital aro capable en
containing several la,udred more beds had the Committee
the requisite muds to maintain them.
Contributions are received by their bankers, Messrs. Brown,
Janson, and Co.. Abehurch-lane; also by Messrs. Coutts aim
Co.; Drummond and Co. ; Giyn and Co. ;'ferries and Co.;
Ransom and Co.; Prescott, Grote, and Co.; Smith, Payne,
and co. ; Larciay and Co.;W Chains, Deacon, and Co.; Nisbet
II" CO-, Bees-street; 'and at the Hospital. from 10 till 5.

STANTQAP. 0k4.11, 44ercr'Y,

DR. SCOTT'S LIVER AND BILIOUS
PILLS.—A NEVER FAILING REMEDY.—Pre"
pared without any mercurial ingredient,
the recipe of Dr.
toott, of Bromley, Rent, will 6e found invaluable to all who
4uffer from bilious and liver romplaints, indigestion, wind,
spasms, giddiness, dizziness of the eyes, dm. For habitual
votiveness, as a family aperient medicine, and as a purifier
A the blood, they are truly excellent; mild in their opera-
tion and grateful to the stomach, they create appetite, pro-
mote digestion, and strengthen the whole nervous system.
Prepared only and acid by W. Lambert, Chemist, S. King
William-street, Charing-cross. London, and by most drug-
gists, in boxes,le. ifd., and three times the quantity in one,
2s. 9d. Be sure to ask
.for Dr. Soott'a Bilious and Liver FM&
The genuine are a square green package, with
Lambert." engraved on the stamp.

• THE BEST REMEDY FOR INDIGE3TION.
NORTON'S CAMOMILE PILLS are confi-
dently recommended as a simple but certain Remedy
for Indigestion, which I-, the cause ot nearly all the diseases
to which we are 6ubject, being a rr e d lei ne so uniformlerate
tut and beneficial, that it is with Justice called the "Natural
Strengthener ot the unman Stomach." "Norton's Pills"
act as a powerful tonic and gentle aperient; are mild in their
operation. sate under any circumstances, and thousands of
persons can now bear testimony to the benefits to be derived
from their use. as they have been a never-failing Family
Friend for upwards of 20 years.
Sold in bottles at Is. lid., 2s. 9d and lie. Oath, in every
town in the kingdom.

Be sure and ask fog I` CAUTION.
persusdad to NORTON'S PILLS," and do not be
Plrechase any of the various imitations which
have sprung' it- •
A _e_ m consequence of the success. of NORTON b
~.....i.LE PILLS.

WHAT IS YOUR CREST AND WHAT IS
YOUR MOTTO I'
Send as. al to Ct3tit,b 'OW l eraidic ace for a
Plain 81tetch, or ds. for a Coloured one. The Arms of
man and wife blended together in proper heraldic form.
The proper heraldic Colours for servants' liveries, what
buttons to be used, and how the carriage should be paintPcla
fee 10s. Juit complete, a very valuable book With PO
Engravings, arms, crests, and mottoes of nearly every
.family in the kingdom, the result of thirty years laholit.
price £lO 10s., printed in several colours. Family Pedi-
grees traced from authentic records, information as to the
obtaining of a new grant of arms, how to change one's
name, by T. Culleton, Engraver to her M4jesty and ItoYal
family ; also Diesinker to the hoard tf Ti4Addi 25, draft!.
bourn-street (cornet of St. Martin's-lane), W.C.

Mr. C. Johnson, of Hull, says thathe has adopted
Ihe suggestion of the Recorder of Hull for saving
coal, by covering the bottom of the grate with a
plate of iron, with the following result The
result in my house, where I have had quarter-inch
iron plates fitted at the bottom of two fire-grates,
at an expense of 2s. each, is a saving in coal of
about one-third, with a considerable increase in
heat. A large number of persons here have already
satisfactorily tried the experiment, and the use
of the plates is likely to become general in this
locality." This is valuable information during the
present unusually severe winter, and when coals
are daily becoming more expensive,

A very singular accident oottrred on Sunday
-evening at the Clapham-road Station of the London)
Chatham, and Dover Railway*: A gtntlenian
named Young, of Xingsland; stepped out of a
carriage upon a plate of flooring glass about A yard
square, which, being rendorod Mule by the frosti
broke under his weight and he suddenly dill ideated.
The glass was fixed to light A 4lairease by a shaft
about 17 feet in depth. Mr. Young's clothes were
much ,;tit and torn, and he received several severe
wounds;
iiieces of flesh being torn out by the pro-
jecting points of the broken material, besides being
severely shaken by the fall. A grating over the
glass would 'have prevented this accident.
The Judge has taken time to consider his de
cision in the case of Overend, Gurney, and Co.
(Limited). It appears to us that many journals
have overlooked the fact in commenting on this
case that the promoters of the Limited Company
were, substantially, the old firm. They argue as
if that firm had disposed of their business to a body
of promoters who proposed to form it into a
Limited Liability Company. It is stated that the
affairs of the firm were honestly laid bare to the
promoters. But who were these promoters ?
Were they not the members of the old firm, and
their relations and friends ? This is a question of
the deepest interest, and thaton which the culpability
of the old company mainly rests.
It is asserted that the Corps Legielltif will meet )
on the 11th of February.

On Friday night Mr. Childers, M.P., addressel
his constituents in the West Riding Court-house,
Pontefract. Mr. Richard Maxon occupied the chair.
Mr. CIULDERS was received with loud applause.
He expressed the very great pleasure it gave him to
be once more amongst them to give an account of
his stewardship. He felt that it was a pleasure to
put before them as clear a statement as he could of
the present state of political matters, so that if he
had their confidence he might be able to return to
his duties in Parliament with satisfaction and alac-
rity. When he stood before them two years ago
he stated that we had jUst passed through one of
the great eras of politics—the era of free trade.
The Chancellor of the Exchequer had by a suc-
cession of masterly movements pretty nearly ex-
hausted that budget of free trade to which the
country and Parliament were committed some
years ago, and he told them that they were ap-
proaching subjects of a difficult kind that required
most careful deliberation. During the first four
years he was in Parliament he was a member of the
party supporting the Government of the day, and
learnt his Parliamentary business upon the back
benches of the Government side of the house—not
always supporting them, but yielding to them a
general allegiance—but rather more than two years
ago he was called to bear his share in the govern-
ment of the country, and as they were pleased to
approve the conduct he had adopted as an indepen-
dent member of Parliament, so they had been pleased
to suppress his conduct as a subordinate member of
her Majesty's Government. (Applause.) He now
came before them as a member of the Opposition,
his duty being to support the Government when
he thought them right, and oppose them when
he thought them wrong, for he was there as
one of the representatives of this great country,
above all party considerations, to endeavour to do
his best for the country at large. Let him in a few
words remind them that a Government supposed to
be in a large majority in Parliament had been re-
placed by a Government supposed to be in a mino-
rity. Although not actually returned by the elec-
tors of Pontefract until 1860, he considered himself
as their member from 1859, and in that year the
question of reform was in the hands of a Conserva-
tive Government. He should never forget the cir-
cumstances of his canvass in 1859, when he saw all
his opponents quite as stanch reformers as himself,
indeed he was a little beaten in the race as to the
extent of reform they were to ask for. The bill of
Lord Derby's Government, however, met with the
disapprobation of Parliament, and Lord Palmers-
ton's Government came into office. That Govern-
ment felt it to be its duty to propose to the Parlia-
ment a considerable reform in the representation
of the people, but it was talked out of the house.
Between 1860 and 1865 great growlings, took place
on the subject, but the Government did not feel
itself in a position to initiate further measures.
Then came the election of 1865, and last year a
moderate bill 'was proposed by her Majesty's Go-
vernment. Lord Palmerston had proposed a £6
bill for boroughs and £lO for counties, while that
of Lord Russell and Mr. Gladstone was a £7 bill
for boroUghs and £l4 for counties; the difference
therefore was an addition of no less than 300,000
electors by the last bill, against an addition of pos-
sibly 450,000 by the bill of 1860. Thus there was
a material difference of 150,000 electors. It was said
to be an imperfect bill because it did not deal
with the question of the redistribution of seats.
It was simply a franchise bill, which would not
have taken effect until somewhere about the
°loan of the preeou4s yew, and therefore there was
plenty of time to deal with the question. (Applause.)
While on that subject, let him remind them at any
rate at Pontefract they had no personal interest in
the question of redistribution, for Mr. Gladstone,
in one of his speeches last year, had said that the
borough of Pontefract was a constituency of mode-
rate size, and not a small borough in the sense of
the bill then proposed, or in any bill ever introduced
into Parliament by a Government which undertook
to deal with the subject of small boroughs for the
purpose of restricting their representation. (Loud
cheers.) That, then, was the imperfect character
of the bill, and it was to that supposed imperfect
character of the bill that the severest attacks were
directed, and he might almost say successfully
directed. It was not, however, upon that question
that the Government were finally defeated, for the
final deeofenasttictuameneey,from a noble lord representing an
Irish
valuation by rating instead of
thevaluation by
rental, which the people in this part of the country
who proposed the system o f
so very much sympathised with. (Loud cheers.)
The Government felt it its duty to resign office, and
he thought they would all agree that it had no other
course—(hear, bear)—for it had been dragged
through a succession of divisions, in which its ma-
jorities had been only 5,
10, 14, 7, until at last the
majorities were convicted into a minority. Such, in
short, was the history of tha late Reform Bill, and
now they had in office the ablest men on the other
side of politics, headed in both houses by those who
had been the leaders of the party for many years
past—as able men as could be found in the Con-
servative ranks. The question was to be asked
hteW ought this Government to be treated by those
who were their political opponents last year, and
upon that question he was anxious to obtain their
advice and support. His answer would be positive
Mid tindetibled eliengh, ne did not think they
should deal with the present Government--he meant
particularly those Who -were attached to the late
Government—as if they httcl Weft turned out of
office on an orditiary patty division; they themselves
being ettgef thid deAlfbiN bf Oflide: That certainly
was not the line taken by Lord Derby di' his
porters in both Houses of Parliament, for he showed
a great desire to include in his Government men not
attached to the Conservative ranks, They were not
to treat the Government as if they had 11„een bttstcd
from office by a succession of intrigues. If a Govern-
ment did its duty, those who sat on the other side of
thehotiSe showed them some forbearance; for It took
present ene both
the
sup-
porta nel
h
Considerable time td build tip ail efiltierit t*ecti-
tive Ci-OVOiniitetit, and changed weakened an Mini-
wniisttroautitni alsothing:aentdti6 weakened, ak
Government, ,
notwithin
influence of the country: He was per-
pared
!
geaerotte eGIISICICTatiOR and forbearance
Which their Meastires would justify. (Cheers.) That
brought him to the question of Parliamentary re-
torm, upon which subject there were several courses
br ted tthl to
ittety bad aright to expect from peutieat friends
open to the Governments They might bring in a
bills
ibring In no bill at all, and say
they might proceed by resolution;
they house to support them hi ap-
t n of inquiry I or they might
nothing they
mightaboutaos
k m itight i
t thei
ss i 0
wait, as had been suggested the other day, for the
house to instruct them as to the action they should
take. The last course was like asking them to be-
come political Macawbers of the day, waiting for
ti(tLsiaduegbh.,eteforraendtlalepyodaeuteser.)
ment, and that the present Government would not
somethinginaiienefdeNVltibtaceo t°,
tne
ouoliluddtr:sbner etnt thato i
lt
t Pe utterly if this suggestion were
adopted take.l
oy
unworthy of any Govern.
listen to it, and go about the consideration of this
great question in such a light and childish manner.
(Cheers.)
Mr. J. CARTER (Knottingley), in proposing a
vote of confidence to the hon. member, expressed
his opinion that if the Government attempted to
carry on without
.bringing in a Reform Bill, they
would have to resign within a week. (Applause.)
Mr. KNIGHT seconded the proposition. He was
very much pleased to see that Mr. Childers was
prepared to support the principle of arbitration for
the settlement of strikes. (Applause.)
The vote was carried amidst prolonged cheering.
Mr. CHILDERS acknowledged the vote, and ten-
dered his thanks for the very warm reception which

The years 1866 and 1857, though separated by a
wide interval of time, present, with regard to the
Bank Act of 1844, some points of resemblance ;
and if there are to be found some divergencies be-
tween them, there are also various points in
which they are apparently, if not ac-
tually, identical. They were both remarkable for
most serious crises; but the causes were different.
In 1857 the crisis was commercial, arising from in-
flated trading; in 1866 it was financial, arising
from boundless financing. In both years there was
a call for the suspension of the Bank Act ; and in
1857 the Bank Act was actually, while in 1866 it
was only virtually, suspended. The crisis of 1857
was followed by a grave Parliamentary inquiry,
which established the conclusion that the Bank Act
had nothing to do with the crisis. Tliat of 1866
was followed by a demand for a Parliamentary
inquiry, and the Bank Act was charged with
having intensified the crisis. Very little is
now heard of the necessity for inquiry ; and it is
uncertain whether the Government will assent to
the demand if it be made.. But further comparisons
I between the two periods may be made with some
advantage, we think, in determining whether in-
quiry be-expedient, or, at all events, in determining
in what direction the inquiry, if conceded, should
be made. The directors of the Bank of England,
we have reason to believe, are at present both
neutral and passive ou this question. They are not
opposed to inquiry, but they will not shrink from
it ; and if it be instituted, the information in their
power to communicate will be given simply and
solely in the interest of the public.
The crisis of 1857 had, no doubt, its silent origin
in the gold discoveries some years previously, of
California and Australia. The effect of those dis-
coveries was an enormous expansion of our foreign
trade, a vast accumulation of bullion in the Bank, a
high reserve of notes, and a low rate of discount.
Between 1854 and the autumn of 1857, large
amounts of capital were employed in the Australian
and American trades ; the bullion held by the Bank
fell to moderate proportions ; and the rate of dis-
count stood at 52 per cent. To these changes the
outbreak of the Crimean war contributed a large
share. Whilst this was the position there arose a
sudden demand for specie for India, and directly
afterwards there was nearly a universal suspension
of specie payments by the banks of the United
States. Great alarm and some most extensive
failures were the inevitable results ; the conti-
nental banks advanced their rates ; and whilst the
crash was in progress, it was discovered that certain
banks iv. the North had been supporting a most un-
sound and illegitimate system of trading. The
Bank of England faced the store with effect. The
Government authorised the directors to increase
their issues, which they did to the extent of
£2,000,000 ; and the rate of discount was main-
tained at 10 per cent. for a period of six weeks,
when it was at one movement lowered to 8, and
subsequently to the normal terms of the market.
Thus the crisis of 1857 arose from bad trading,
aggravated by the suspension of specie payments in
in the United States ;, and the Parliamentary corn-
mittee found that as the Bank Act, of 1844 could
not possibly have checked or prevented these con-
ditions, it was not responsible for the consequences
which ultimately followed them.
The crisis of 1866 arose from different, yet in some
respects, analogous causes to those in force before
1857. For example, though sixteen or seventeen
years have elapsed since the gold discoveries of
California and Australia, the impetus which they
communicated to trade is not yet exhausted. The
momentum continues ; and if the Crimean war de-
ranged the previous movement from 1854 to 1855,
a greater disturbance arose from 1861 from the
conflict within the United States. But the impel-
ling force of a constant production of gold created
new or extended old markets with the ultimate
result that our trade increased enormously between
the years 1860 and 1865. The action on trade
which originated from perpetual supplies of gold
was accelerated, we should say intensified, by a
series of three, if not four good harvests, each of
which saved to the country a minimum of ten
millions of capital. Whilst this condition was in
course of development, two circumstances arose
which, in their effects at least, were analogous to
the unsound trading that preceded the crisis of
1857. These were, the legislative adoption of the
principle of limited liability, concerning the true
nature of which most people were profoundly un-
informed ; and the other the introduction, with ill-
considered haste, of numerous finance and credit
companies, after the French model in their elemen-
tary form, but opposed to it in their legal effects as
regarded the liability of shareholders. The public
blindly engaged their fortunes to nominally limited
companies, but to practically unlimited liabilities ;
and the finance and credit companies, constituted
exactly after the same fashion, engaged in great en-
terprises abroad as well as at home, and flooded, for
a long time, the money market with their accept-
need and their debentures. Chiefly, mainly, from
this cause money, notwithstanding the accumula-
tions arising from good harvests, a state of peace,
and a sound general trade, was dear. The first
signs of a collapse came from India, where a great
ttpestilation had arisen through the sudden demand
for cotton, owing to the closing of the American
market ; and then by degrees It same out that an
excessivtly unsound business had been done by the
credit, the finance, and iopie of the discount com-
pile. Thqq, was a crash in London in which
several banks disappedredi and also the great house
of Overend, Gurney, and Company. All had,
more or less, done an unsound business. At the
heAght vf the panic there was
,a demand for the sus-
pension of the Bank Act of 1844 ; and one of the
last public measures of Earl Russell's Government
was to issue a letter empowering the Bank of Eng.
land to increase its issues, charging 10 per cent.
This letter was not acted upon, but the 10 per cent.
minimum was maintained for a period of just three
months. Can it be contended on this statement of
facts that the Bank Act of 1844 is responsible for
the crisis of 1866 ? We submit that it cannot; but
that, if there is to be a Parliamentary inquiry into
the causes of the crisis, its direction should obviously
be to the operation of the principle of limited liabi-
li
ty
financea
day authorised
the suspension of the Act
In 1857 the Government of the
of 1844, upon their sole
ndcominptaonitehse. proceedings of the credit and
day were urged to suspend the Act, by deputations
and individuals, but not by the
Bank directors, who,
responsibility, without any suggestoiovnerLormaepnptliocfattiohn
from the City. In 1866, the Government
therefore, be useful to comp
' -t before the issue of the
Bank at the two periods, jtb
from that position,
respective letters, to see whether,
as in 1857, were
reason for urging a
there was in 1866 any valid
passive inartehethmeapttoesrit.ionltofmtahye,
Nov. 11, 1857. May 9, 1866.
-1, 000 ... X131156)140
Bullion .............
£7,lr
Reserve of notes and.
5,811,745
...
coin .................. 1,461,000
ssuuspeernflanioousn, which was unexercised, and therefore
p
Private deposits ... 12,935,000 ...
13,515,537
Private securities... 26,113,000 814,917
Let it be borne in mind that
d justwere immediately
positions • of the Bank of Englan
before the issue of the Government letters. It
ese-
20the relative
will be obvious, at a glance, that the position
of the ,Bank was greatly Owner in 1866