The Sun.
London, England, 1860-12-20 00:00:00

THE SU', LONDON, THURSDAY EVENING. DECEMBER 20, 1860.

BRITISH POSSESSIONS.

1 Closing*Share Railways. Paid. Price:- Business done
80 82
elikt'u 5 -13ko-netT.,Barol:cict,---Lt.Caetrtel-T-Cerl all 80
05 96
Gu. 5 per cent........
18 Do, Do. B 15 14 1 d
201 13,iffalo and Lake Huron all 45 55d
205 Do. New ....... ..... all
10 Do. Preference
100 Buffalo,Brant&Godrich
100 75 80
,6 p. ct. bds. Aug. 1, 1872.
100 i Do. do. July 1, 187? 100 67 72
100 Do. do. June 1,18 N 100 65 70
5 Clcutta.&S.Eastn. (Lim' 3 5d pr
20 ;Cape,Eactn.Prov. (Lim., 2s.
20 ,Cape Town & Dock Scrip 5 If 15 d
20 t Ceylon Guarantd. 6p. c 74 15 5 d
175 Demerara all
20 Eastn. Bengal gu. sp. c 10 15 15 d
stock East Indian, gu. sp. c. 100 101 1(2 1011
20 Do. F Shares Ext all d pr
20 Do. Jubbulpore all d pr
100 Do. 44 pc. Debentrs all 985 995
100 Do. sp. c. Deb., 1864_ all 1005 1015
20 'Geelong & Melbourne all
stock Geelong Corporation 6
per cent. Bonds
stock Grand Trunk of Canada 100 245 255 255 44
100 Do. 6 per cent. Pref i all 77 79 81
100 Do. 6 per ct. Debentr all 51 53 635
100 Do. 7 per cent. 1862 _ all 58 62
100 Do. do. 1867
100 Do. do. 1872
stock Gt. IndiaPenin.gua.sp.c lOO 975 984 985
20 Do. New gua. sp. c 8 i d f d
20 Gt. South.of India (Lim)
guaranteed 5 per cent. all 2 14d
205 Gt. W. of Canada Shares all 11; 115
205 ' Do. New
100 Do. Bonds pay. '76, with
opt, till '6O
100 Do. do. '7:3 till '6O all 95 100
100 Do. do. '73 without opt, all e 3 96
100 Do. 55 p. c. do. '77 do all 90 83
stock Madras, guar., 45 p. c lOO 85 87
stock Do. do. 5 per cent
stock Do. 45 p. c. Extension 100 88 89
20 Do. Fourth do l5 15 15 4
20 Do. d 0.....
stock Melb.Corp. 6p. c. Bnds lOO
20 Newßrunswick t Canda
Ry.&Land(Lim.)g.6pc all 5 7
Class A Capital Share
Do. do. Land do
20 Do. do. B Capital d 0... all 5 7
. • Do. do. Land do. ......
20 Oude (Limited) ... ..... ss.
stock Scinde ........ • •
.1 6 41. 100 99 100 1005 5 1
20 Do. Punjaub .... El g 10 15 d 11 1
20 Do. Do. ..... .. ...eil ? all —d
stork Do. Indus. St. Flo. gr' ~.t. 100 98 96
20 !StAndrews & Quebec A 18
10 !Trinidad (Lim.) Scrip.. 1 8 5 d
FOREIGN RAILWAYS.
10 Antwerp & Rotterdam all 55 55 55
20 1,11rdenne5........... .. all
20 ah.&S.Fran..Lim.7 p.c. 10 15 11p -....4
5 Belgian East. Junction all 5 1
20 ißeziers to Graissessac.. all 1
8 Cw—neaux Mine & Rail all 10 11
100 Copiapo ........& . . all
10 i Ditto Extension all 3 254
20 Dutch Rhenish ........ 16 2f 25d
20 Eastern of France .... all I 235 245
20 Grand Rue. Guar. 6p c 6
20 Do. do. all
20 Great Central of France all
20 Gt. Luxem., Con. shs... all 65 65 7 1
20 Italian Junction .. ... all
20 Lake Constance & little. all
20 Lierre & Turnhout all --
20 Lyons & Geneva — all
335 ,Maria Antonia .. all
10 ,Do. New
20 'Namur & Liege ........ all 75 75
20 Do. 6p. c. Pref.
16 Northern of France.... all 885 395
16 Do. New Shares
10 Norwegian Trunk Pref all 75 84
20 Paris,Lyons, & Medlter all 355 365
20 Paris & Orleans all 54 56
20 I Recife & S. Fran. (fern )
i gua. 7p. ct. Urn
20 Riga & Dunaburg l4
10 ;Rome & Frascati
20 'Royal Danish all
5 Royal Swedish
4 Do. 7 per cent. Frei_ all
20 Sambre & Meuse
10 Do. 55 per cent. Pref all 8 Ak
20 San Paulo, lim, g. 7p. c 2 15 id
20 S.Aust &Lomb Venetin 12 5d sel
20 Southern of France all 20 21
85 West Flanders
10 Do. 55p. c. Preference.. all 9f 95
20 W. & N.W. of France .. all 215 225
20 Western of Austria.... 6
20 !Western of Switzerland all
6 Wiesbaden ...* .. ...... all
6 Do. 8 per cent. Pref.... all
20 'Zealand

7.4.0

17;
12.13.9
1 9i
5.14.6
8.12
4.10.6
1.8.6

15s
9.18.9
10.6.7

31
all
!24.18.01

~3s 6d

L INTELL IGEN CE,—(This Day.)

COURT OF CHANCERY.
(Before the Lord Chancellor.)
APPEAL-JUDGMENT.-BURCH V. BRIGHT, BRIGHT V.

BURCR7 ET E CONTRA.

These were appeals and cross appeals from a decree of
Vice-Chancellor Wood, directing the manner in which
certain complicated partnership accounts under a patent
for manufacturing carpets were to be taken.
The Lord Chancellor, in delivering judgment, said, I am
of opinion that the decrees appealed against in both these
suits ought to be affirmed.

His Lordship approved of the practice of giving short
written judgments, as settling most valuable principles of
law, and disapproved of delivering long judgments, as hav-
ing a tendency to incite to further litigation.
His Lordship recommended to both parties amicably to
settle these suits themselves, and not incur any further
costs.

His Lordship dismissed both appeals without costs.

ROLLS COURT.
(Before the Master of the Rolls Sir John Romilly.)

JUDGMENT.-CORRY V, TAE LONDONDERRY AND ENNIS-

KILLEN RAILWAY COMPANY.

His Honour the Master of the Rolls, in delivering judg-
ment, said—This suit is instituted for the'purpose of obtain-
ing a declaration of what constitutes the profits of the
company in classes, and how these profits ought to be apor-
tioned and divided amongst the shareholders of the com-
pany. The railway orignally was not so successful as was
contemplated, and, as a necessary consequence, various
Acts of Parliament were passed enabling the company to
borrow more money and to issue more shares. His Honour
observed there were six classes of shares, and his honour
directed the profits and dividends of the company, with
interest at 5 per cent., to bQ paid to the shareholders respec-
tively, according to their classes, in terms of the Act of
Parliament, with costs of all parties out of the surplus funds

SHERIFFS' COURT.
(Before Mr. Kerr.)
MARRIED WOMEN IN TRE CITY OP LONDON-MOORE V.

TEDNEY.

This was an action to recover a sum of money lent.
Defendant's wife got into the box, and said her husband
had left her and gone to Australia; besides this, the defen-
dant knew nothing of the transaction.
Plaintiff—No, I lent you the money.
Defendant's Wife—And you have sued ray husband
for it.
His Honour—You must pay it.

The Wife—Oh ! dear no. My husband has left me 12
months.

His Honour—You admit that you had the money ?
Wife—Yes.

His Honour—Well, it is one of the peculiar privileges of
the City of London that a married woman may sue and be
sued. (Defendant's wife looked as if she would gladly
waive the privilege so far as she was concerned.) I will
just put in your name. There I Now, how will you pay it ?
The Wife-2s. a month.

His Honour—Very well ; but remember you are what is
called in law a fenaine sole, and can sue and be sued.

POLICE IATTELLZGENCE.—( This Day).

MARLBOROUGH-STREET.

A BOOK THIRP.—A SLIGRT MISTAKE.—Jane Wheeler,
a shabby-looking woman, was charged before Mr. Tyr-
wbitt with stealing books as follows :
George Manning, assistant to Mr. White, bookseller,
of 337, Oxford-street, said that at two the previous (Wed-
nesday) afternoon he saw the prisoner looking at some
books outside the shop window, and suspecting she had
taken something, he followed her into Band-street, but not
observing anything further he returned. At a later period
of the day, however, a constable celled and showed him the
books produced, which he at once identified, and had missed
on his return to the shop. She had been also identified as
having stolen a book at Mr. White's brother-in-law's, and
sold it at Mr. White's.

Draper, 178 C, said, at half-past two, while in Pall-
Mall, the prisoner stepped up to him, and pointing, said,
"What building is that?" He told her St. James's
Palace, and noticed under her shawl the books ; and on
putting questions to her, she at last said, "You want to
know too much," and he then took her into custody. She
told him that she had made a mistake, for she took him for
a gentleman's servant, or would not have acoosted him.
He afterwards made inquiries, and found the books be.-
longed to Mr. White.

Mr. Tyrwhitt said he believed her to be a practised thief,
and believed what she said about having made a mistake.
Ho should commit her for 21 days with hard labour.

TIM DAY'S AtARRETS.

CORN EXCHANGE.

lbit ERIAL WEEKLY AVERAGES. Wheat, 51s 5d ;
barley, 38s 7d ; oats, 22s ld ; rye, 33s 6d ; beans, 450
6d ; and peas, 43s Bd.
THE Six WEEKS' AVERAGES. Wheat, 55s 4d ;
barley, 40s 2d ; oats, 22s Ild ; rye, 35s 3d ; beans, 48s 9d ;
peas, 45s Bd.
ENGLISH GRAIN SOLD LAST WEEK.—Wheat, 62,753;
barley, 91,624 ; oats, 14,317 ; rye, 152; beans, 3,137 , peas,
1,825 quarters.

OPENING OF ST. GILES'S NATIONAL SCHOOLS.

Yesterday afternoon the fine building lately
erected at the corner of Endell-street as parochial
schools for the parish of St. Giles's was formally
opened. The ceremony was to have been performo
by Lord John Russell, but his lordship was una-
voidably absent.
The Hon. Arthur Kinnaird, 11LP., was called to
the chair, and the proceedings were• opened with
prayer and singing.
The Rev. A. W. THOROLD, the rector of St.
Giles's, read a short paper on the school building.
It stated ijiat the parish contained a population,
closely packed, of 37,400 souls. Although much
had been done by the exertions of good men in that
district, the moral and social position of the work
ing classes was mostly at a very low level. Those
numbers represented about 5,000 children of school
age. Various attempts had been made to give
them the elements of instruction. Ragged schools,
parochial schools, and night schools, had to some
extent broken up the fallow ground and sowed it
with the seeds of the gospel. In all these cases
the education was gratuitous, so that other arrange
ments were necessary to meet the large
artisan
class who were willing to bear part of the expense.
Thirty years ago Mr. Endell Tyler, who was the
rector of the parish, erected the schools which they
were about leaving, and it was determined that
the new schools should be erected when the Govern
ment inspector reported that the old schools were
deficient in plan and insufficient in accommodation.
The site on which the new building was erected
had cost £4,000, but from its airiness and its
proximity to the great mass of the population, it
was considered to be worth its price. The total
cost of the building amounted to £12,500. A grant
of £3,000 had been made by the Committee of
Council on Education, and £9,000 had been promptly
subscribed by the owners of property and the
parishioners, leaving £5OO to be subscribed. The
Duke of Bedford had subscribed liberally to the
schools.

The Hon. ARTHUR KINNAIRD said that, after tho
interesting paper which had been read, it would be
a matter of deep regret that Lord John Russell hail
not been able to attend, and that such a valuable life
as that of the Duke of Bedford should be placed in
jeopardy. It had been his privilege for many Tears,
as a member of the House of Commons, to witness
the untiring zeal of Lord John Russell in the great
cause of national education, the rapid progress of
which was a cause of great satisfaction. He be-
lieved that if there was safety for a country, it
would be found in a sound scriptural education.
Sir J. K. SHUTTLEWORTH also regretted the
absence of Lord John Russell, because he should
have been glad if his lordship could have had per-
sonal experience of the way in which the difficul-
ties of such a parish as this could be overcome by
the combined exertions of the rector and pari-
shioners on the one hand, and the Committee of
Council on Education on the-other. He described
the parish of St. Giles a cesspool of the metropolis,
and a foul ulcer in the body politic. Through the
medium of these schools he hoped its abandoned
population might be effectually reached. The hon.
baronet concluded by proposing a resolution which
recognised the progress of public sympathy in the
education of the poor, and expressed a hope that
the owners of property in the parish, and the
parishioners generally, would make provision for
the permanent maintenance of the schools in efficient
working order.
The resolution was unanimously adopted.
The Rev. E. BATLEY, rector of St. George's,
Bloomsbury, in moving a vote of thanks to the
chairman, said he was formerly incumbent of Wo-
burn, and had had many opportunities of witness-
ing the zeal which the Duke of Bedford had shown
in the work of education. He felt quite sure that
when he heard of what had taken place to-day he
would be cheered and comforted in his illness.

Mr. HAWTHORNE, of Gower-street, seconded the
resolution, which was carried.
Mr. KINNAIRD, having briefly returned thanks,
the Doxology was sung, and the meeting separated.
Miss Burdett Coutts and many ladies were pre-
sent during the proceedings.

BRITOXS, THE SLAVES OF THE .21102V1E-D
INTEREST. AND THE VICTIMS OF TILE
MONOPOLY IN THE ..11ANCLIC.TURE OF
B AYE NOTES.

TO THE EDITOR OF THE StiN.
Slll,—Another artificial monetary pressure in the face of
Lbundanco of money, and possibly another monetary panic,
is at hand ; which will yield a rich harvest to the owner of
money, but great loss to the owners of all other kinds of
property, and to the sons of labour.

When will our landowners, merchants, manufa&urers,
and operatives awaken to the direful action on their interests
of our monetary laws, and especially of the Act of 1844 ?
Let them look upon money of all kinds, from cowrie
shells to bank notes and sovereigns, simply as " a security
for the transfer of capital, and regard it as perfectly dis-
tinct from capital, insomuch as money of itself cannot add
to products of the world, whilst capital can. Money, so
long as it is retained as money, and not exchanged for capi-
tal, cannot increase wealth, for although one person receives
interest for its use, another person pays it, and the general
wealth remains the same.

Let them consider turther, that the true meaning of
raising the rate of discount is the stoppage of trade, the
interchange of their respective commodities by making
money, the instrument for carrying on trade, dearer; that
the effect is precisely the same as when the directors of a
railway by raising their fares and rates diminish trt,ffic.

To restrict the supply of money—of "perfectly sound secu-
rities for the transfer of equivalent values of capital," is
surely as absurd as it would be to limit the number of trucks
and carriages on a railway. Should not the sound rule be,
to take care of the quality of the circulating medium and
leave the quantity to take care of itself.

On this principle the business of the Bank of England
was conducted prior to the Act of 1844, the directors being
subject to no other restriction than that which their liability
to pay their notes in gold on demand imposed on their dis-
cretion.

The market rate of discount then depended upon the
demand and supply of the various kinds of ready money,
viz., deposit money, Btnk notes, and gold, but since the
Act of 1844, therate depends on the demand and supply of
gold alone ; as the notes of the Bank of England are made
to increase and decrease with the gold in the issue depart-
ment of the Bank of England, and their amount governs
the Bank rate of discount, and the Bank rate regulates the
market rate.

For 140 years previous to the Act of 1814, the
rate of diseount of the Bank of England
never
fell below 4 per cent., nor exceeded 5 per cent.,
excepting for a few months in 1839, whilst, since the act,
the fluctuations have been incessant and often violent,'
ranging from to 2 to 10 per cent. ; from the Bth to the 15th
of November last the variation was.from 4 to 6 per cent.,
a rise of 50 per cent. in eight days.
And into whose pockets does the extra rate go, and from
whom is it taken? Is it not transferred from landowners,
merchants, and manufacturers, to bankers, money- dealers,
and depositors ; from productive to non-productive classes;
for although bankers are most valuable and essential in
providing money, the means of obtaining capital and car-
rying on production, they do not themselves produce any-
thing.

'NVhence comes it that these powerful bodies of land -
owners, merchants, manufacturers, and operatives so tamely
submit to the gross injustice of our monetary laws ; and
more especially how comes it that Chambers of Com-
merce, the appointed guardians of the interests of the com-
mercial community, are so supine on the subject ? Is it
that the members are so much engrossed with buying cheap
and selling dear that they neglect the due consideration of
the laws which so often upset their calculations ; or is it
that they are so little acquainted with the science of money,
the most important branch of political economy, that they
shun the discussion of the currency? Or is it, that the
majority of the members are under such obligations to their
bankers that they dare not protest against the monopoly
in the manufacture of bank-note money which their
bankers possess, that as borrowers they cannot well con-
tend with lenders ?

Are they not aware that as the value of money rises, the
value of their property (capital) falls, and that all fluc-
tuations in the value of money, not proceeding from the
natural law of demand and supply, but artificially created
by unsound laws, are most prejudicial to their interests?
Are they insensible to the fact that our laws by restrict-
ing the supply of money make it dearer to them than to
their foreign competitors, that the difference to their dis-
advantage with France was lately 11 per cent., the rate of
the Bank of France being 41 per cent. and of the Bank of
England 6 per cent., and that at the same time the market
rate of discount in Brussels was 3 per cent., and at Ham-
burg only 21 per cent.
If these influential classes will not bestir themselves to
obtain emancipation from the thraldom of the monied inte-
rest, how can we expect that any Government, unsupported
by public opinion, will undertake the task.

. .
The monied interest in the house of Commons is more
powerful than the landed interest ; from the latter we did
obtain the abolition of the monopoly which the Corn-laws
gave them, but the monopoly still remains which the
Money Laws create—a reproach to all Freetraders. It is
strange. but true, that no deference is paid in the House of
Commons to the opinion of a member on the subj aet of
money unless be be a banker, the party most interested,
and that the more money he possesses the more sound and
disinterested his opinion is considered to be ; in the Com-
mittee on the Bank Acts, the evidence of Lord Overstone,
a millionaire, was preferred to that of J. S. Mill, Esq., the
first political economist of the age.
What Ministers, be they Whig or Tory, dare go down
to the House of Commons and grapple with the over-
whelming influence of the B tnk of England and monied
interest there, by proposing that the powers of issuing up-
wards of £30,000,000 of Bunk-notes, given by the Act cf
1844 to certain privileged bankers, should be taken from
them, and transferred to a National Bank of Issue for the
good of the nation ?
Were a national Bank of Issue now in action, where all
could have legal tender notes payable in gold upon demand,
on depositing one-third of the amount in gold, and two-thirds
in Government securities, these drains of gold to France
and America would be comparatively little felt ; the value
of gold would rise naturally, according to the law of supply
and demand, and the rate of discount would be raised pro-
portionately, but there would be no diminution of our
domestic currency, nor apprehension of a deficiency of
legal tender money, the real cause of monetary panics ;
both of which evils are created by the Act of 1844.
Verily we are the slaves of the monied interest, and
with little chance of emancipation, unless bankers are
high-minded and patriotic enough, and many are, to
prefer their country's good to their individual advantage,
and will themselves move for an amendment of our
Monetary Laws; or, a third dreadful monetary panic be
inflicted upon us, as in 1847 and 1857.
These convulsions are the certain results of the conflict-

inn principles at work, of Free-trade in commodities and
restrictions on the quantity of money requisite to pay for
them. Nature's offended laws will eventually vindicate
themselves.

I am, Sir,
Your obedient servant,
ITAMER ST ANSFELD.
The Grange, Burley, near Otley,
6th December, 1860.

P.S. Were the pubic aware that the writer of the City
Money Article in the Times is the Secretary of the Treasury
Committee of the Bank of England, the giant monopolist,
they might account in some degree for the support given
to the Act of 1814 by the leading journal.