The Sun.
London, England, 1867-08-30 00:00:00

IS LORD DERBY A TORY

TO TILE EDITOR, OF THE SUN.

Lord Russell in divers ways has more than de-
parted from the views held by him in the good old
days of 1831 and 1832. As regards Lord Brougham,
he has long, long since departed from political life.
'fru indeed, it is that he has until quite recently
mixed and taken a deep interest in all matters con-
nected with, ani having for their object the pro-
motion of, social science and law amendment ; but
as far as mere political life proper is concerned, he
cannot be said to have moved in it for the last 20
years. Lord Grey, too, entertains very different
opinions to those held by his late father in 1831
and 1832. We have indeed wandered far from the
sentiments that guided us in those days, for " the
fashion of this world passeth away ;" but, as I said
before, the best representative and executor of
those days is all to nothing our present noble Prime
Ministers who now in 1867, as in 1832, has carried
a good, rich, useful, and substantial measure of
Reform. More indeed is it than the so-called
Liberal party ever could or would have carried.
Again, and for the last time, do I say that it is a
most undoubted fact that no measure of Parliamen-
tary Reform has ever arrived at maturity unless our
present most illustrious chief has happened to be a
member of the Government. As regards the abor-
tive measure of Reform brought in by the defunct
Government a year and a half ago, it was something
like that of a gamester, who when he throws for
his last stake a smile will often sit on his counte-
nance, while all the demons of wretchedness and
de.pair are preying on his worn-out features; and
this Topius was a fair representation of the late
Government when they brought in their Reform
Bill in 1866. I end, therefore, as I began, by
saying that Lord Derby is no Tory at all, but a
genuine old Whig ; and with our Chancellor of the
Exchequer do I say, let us be thankful we have got
rid of our. Liberal monopoly.—l remain, Sir, your
faithful servant,
A LOVER AND OBSERVER OF HISTORICAL
DATES AND FACTS.

SIR,—It must be owned my grammar has been
all along in my correspondence with you since the
commencement of the present year extremely para-
doxical and topsy turvy. I have gradually rolled
backwards, i.e., I began with the future tense, then
descended, or rather ascended, to the preterite, and
I am now going further back still into the indicative
mood, present tense. I began at the beginning of
last February with the all-important question of
" What Will Lord Derby Do?" I foretold his
Reform Bill, and said there was no reason why we
should not have a Reform Bill from a so-called
Tory or Conservative Government. I showed
historically what great reforms had been carried in
days of yore by our present noble Premier. I asked
three weeks ago in my last letter to you, at the close
,
of the session, " hat Had Lord Derby Done ?"

I will not weary you and your readers with going
over again the arguments and remarks made by me
to you in my letter of the 9th curt. I will merely
add that what I then and there hoped might come
to pass has come to pass, i.e., the Reform Bill of
1867 is now as much part and parcel of the law of
the land as its illustrious ancestor, the great Reforin
Bill of 1832. I trust the question of Reform is
memorable and hard-worked-for measure of 1832.
again set at rest for many years, as it was after the

Grand Lifeboat Demonstration at Falmouth.

Yesterday was a grand• day at Falmouth, the
occasion being the inauguration of the splendid new
lifeboat presented to the town, through the National
Lifeboat institution, by the city of Gloucester. The
lifeboat was taken thiough the town in procession,
and then publicly launched in the docks. The pro-

you can easily comprehend bow extensive and im-
portant those operations are. (Hear, hear.) These
400,000 vessels are manned probably by nearly two
millions and a half of men and boys. Amongst
such an enormous mass of shipping it is only to be
expected during storms that the casualties should be
very large. During the past year the shipwrecks
on the coast and in the seas of the British isles
numbered 2,012, and happily on account of the ser-
vices of these lifeboats, only G9B sailors, out of
about 6,000 men of the greatest value to the com-
merce of our country, and in times of war its prin-
cipal defenders, were lost. Still that is a large
number, and this contribution of the Gloucester
lifeboat to-day will, I trust, diminish even that
number. (Hear, hear.) When a shipwreck takes
place, which is, of course, mostly in stormy
weather, that is the time when the lifeboat
is called into requisition. As soon as the sig-
nal of distress is made, the crews of our lifeboats
are ever ready to man them, either in the night
or in the day, no matter how strong the gale
may be. On such occasions the crews who man
the lifeboats never falter for a moment ; indeed,
the great difficulty is to keep the men out of the
boat when she is required, and the British tar now
displays as much bravery in saving life on our coasts
as he used to do in former times in defending the
honour and interests of our country. (Hear, hear.)
Now, it would be cruel to call on these men to
sacrifice their health, to sacrifice their clothing, and
sacrifice, perhaps, everything that is dear to them,
without some acknowledgment for their noble
deeds. The Royal Lifeboat Society pays each man,
when he goes afloat in the daytime, 10s., and each
man for night service, 20s. ; so that when a lifeboat
goes to sea it costs the institution about £lO or £l2
in the day, and £l4 or £l6 in the night. Again,
in order to practise the men in the management of
their craft, they are required to go afloat in the
lifeboat once in every quarter throughout the year,
when they are paid 5s each man in rough weather,
and 3s. each if it be calm weather. I should ob-
serve, in regard to these payments, that they give
the utmost satisfaction to the men. They know
very well what they are to expect ; we never receive
any complaint from them ; and they know that
when they have to perform services attended with
more than ordinary peril, their payments will be
doubled. But I should like to impress upon you
that the crews are seldom actuated by mercenary
or pecuniary considerations, they are generally
impelled by a much higher and nobler feel-
ing. (Loud cheers.) The lifeboats of the insti-
tution have been manned during the past five
years by about 30,000 persons, and yet only 11
lives were lost--a most remarkable illustration,
under the providence of God, of the safety of the
lifeboat, and of the admirable provision made by the
institution for the security of the brave men who
are ever ready to man its boats. (Loud cheers.)
The first expense of a lifeboat station averages
about £6OO, and after the station is complete it is
necessary to keep it in a state of efficiency; because
if a lifeboat is not kept up well, it often becomes a
death-boat. (Hear, hear.) For the future main-
tenance of a lifeboat station, therefore, the sum of
£5O a year is required, and I have no doubt, in con-
junction with yourselves, Gloucester will not forget
the future support of its lifeboat. Happily money
is never wanting ; all classes, from the highest to
the lowest, as I have just said, liberally support the
National Lifeboat Institution. Foremost amongst
the supporters of the institution have been the
ladies. They have given it altogether 42 lifeboats ;
some have been presented as memorial boats, others
from a desire to help forward the work of the insti-
tution. We have also received 27 lifeboats from
different towns and counties, and this is the second
boat the county of Gloucester has given to the in-
stitution, the previous one having come from Chel-
tenham. I am one of those who have no mis-
giving as to the future success of the
institution, provided its operations are con-
ducted above-board and on the sound principles
which have hitherto guided its councils. (Cheers.)
The institution has 181 lifeboat establishments on
the coasts of the United Kingdom, and it has ex-
pended on them about £160,000. Again it has
paid in rewards for saving 16,500 lives over
£25,000, in addition to 858 gold and silver medals.
Some of the noblest services performed by lifeboats
have been done on the coasts of Cornwall and
Devon, where the great Atlantic wave is felt
perhaps more severely than on any other part of
the coast of the British Isles. We all remember the
noble services which the Penzance and other life-
boats performed last winter. (Cheers.) But perhaps
Cornish men never performed a nobler deed than
that rendered the winter before last by the lifeboat
at St. Ives. She capsized twice, but the St. Ives men
were determined to perish themselves rather than
the Frenchmen who, were shipwrecked should be
lost. (Cheers.) That deed excited not only the ad-
miration of the residents of the two 'Counties, but
also of all the country. Indeed, it was so daring and
so persevering that the Emperor of the French con-
ferred an unusual mark of honour on the men of
the lifeboat crew, by sending the coxswain a gold
medal, and a silver medal to each of the others. It
is gratifying to know that foreigners who are
shipwrecked on our coast know that great and
successful efforts will be made to save their lives ;
and they cease not when they return to their own
country to express their gratitude for the help
rendered to them by England's lifeboats. Indeed
the name of the institution has become almost a
household world throughout the maritime countries
of the world, and in recognition of its great services
to shipwrecked sailors of all nations the Inter-
national Exhibition of Paris has just presented to
it one of the three magnificent gold medals that
have come to England as grand prizes. I had the
honour myself to receive it from the hands of the
Emperor of the French, and no one has been more
pleased with this tribute to the institution than his
Royal Highness the Duke of Cornwall, who was
present on the occasion. Such, then, is the hold
the institution has upon the public—not only the
public of England, but throughout the civilised
world ; for contributions come to it from all parts
of the globe. (Hear.) Now, in addition to the
services of a secretary, we also engage the services
of two captains of the royal navy, one of whom is
my excellent friend, Captain Ward, inspector of
lifeboats, who is here to-day rendering considerable
assistance, and whose zeal in this good cause is un-
paralleled in the history of the benevolent institu-
tions of this country. (Cheers.) With regard to
the affairs of the institution, they are conducted on
the strictest principles of economy and disinterested
assiduity. I suppose there is not an institution in
London that has abler men on its committee of
management. The Duke of Northumberland is its
president, and amongst those of its committee may
be mentioned Mr. Thos. Baring, M.P., uncle of
your late respected representative ; Mr. I'. Chap-

cession was formed on the Moor, and proceeded
through several of the principal streets to Penrhyn,
returning to Falmouth Dock, where the boat was
received by the president and vice-presidents of the
local lifeboat committee. She was then launched,
and put through various evolutions, including cap-
sizing, under the superintendence of Capt. Ward
R.N., inspector of lifeboats to the Nation al Lifeboat
Institution. The procession comprised the local
rifle volunteer corps, with their bands, the militia
staff and band, coastguard men, sailors, marines,
members of the Orders of Freemasons, Foresters,
and Odd Fellows, and their bands, the mayor and
corporation of Falmouth, the local lifeboat com-
mittee, a deputation from Gloucester, members of
the Chamber of Commerce, &c. The lifeboat,which
was mounted on her transporting carriage, was fully
manned and equipped, and was drawn by .twelve
fine horses. Previous to the launch, the Mayor of
Falmouth, in a very appropriate speech, addressed
the spectators, and said that it had afforded him
peculiar satisfaction to assist on that auspicious oc-
casion. There was no institution throughout the
length and braadth of the land of a more practical
character than the National Lifeboat Institution.
(Cheers.) But as he was to be followed by a gentle-
man who had for many years past devoted his
talents and untiring energy to the promotion of the
lifeboat cause, he would not detain the assembly
any longer, but would at once call on Mr. Richard
Lewis, secretary of the institution, to address
them.

Mr. LEWIS said—Mr. Mayor, ladies, and gentle- 1
men,—lt is indeed peculiarly gratifying and encou-
raging to be present in this old town of Falmouth on
this joyous occasion, when you are formally inau-
gurating your splendid lifeboat. (Cheers.) The
people of the city and county of Gloucester have
nobly done their duty by the lifeboat cause, and
to-day you have likewise done your part in a gene-
rous spirit. (Hear, hear.) The combined result is
what we have just seen—one of the most complete
lifeboat establishments on the coast. Let no one
say after the shipping disasters of last winter in this
neighbourhood that a lifeboat is not wanted at
Falmouth. Many are to-day the widows and orphans
of the poor fellows who perished on those days, who
cease not to wish that the Gloucester lifeboat had
been here on that calamitous occasion. As far as
the lifeboat itself is concerned, you will, I doubt
not, hereafter be much pleased with her qualities,
and, like the mayor, I believe she will never lack
willing hands to go afloat in her in the stormiest
weather. (Hear, hear.) Indeed Cornish sailors
• and fishermen have stood forth conspicuously in
manning these lifeboats. In times of yore they
were notorkus as wreckers ; but in the present
day their character is quite changed, and no
storms ever appear to appal them, and the con-
sequence has been that some of the noblest life-
boat services have been performed on your rugged
coast. ([lear, hear.) Yes, more than that, as Sir
Stafford Northcote said at our annual meeting the
other day, when his 'Royal Highness the Prince of
Wales presided over it, the noble fellows have not
only been always ready, under the most desperate
circumstances, in their lifeboat to succour ship-
wrecked sailors, but they have on one or two occa-
sions sacrified their own lives in the performance
of their philanthropic duty. (Cheers.) Again, the
lifeboat cause receives a larger amount of support in
Cornwall and Devon than in any other two counties.
And really this support is not limited to any parti-
cular class, but comes alike from the very highest
as well as from the humblest of the population.
(Cheers.) His Royal ifiglines the Duke of Corn-
wall and the Duchess are staunch and liberal sup-
portere or the institution. (Cheers.) I ler Majesty
the Queen has also for many years given her £5O
annually to the society. (Cheers.) Again, some
of the principal landowners have also been generous
supporters of the institution. Amongst the fore-
most of them is Mr. Agar Robartes, M.P. From
a letter I received from him a few weeks since, it
is quite clear that no benevolent work in Cornwall
had given him greater satisfaction than the help
he had so bountifully extended to the lifeboat
cause. He was its friend from the beginning, and
he has continued ever sine° to be one of its most
liberal supporters. The lifeboat that is about
to be stationed at Mullion, in memory of the late
Rev. Daniel J. Draper, who unhappily perished
from the steamship London, has been principally
contributed by the Wesleyan Methodists of Corn-
' wall. (Cheers.) Thus then the Cornish people in
I this, as in every other good cause, have nobly done

Having, therefore, prognosticated what Lord Derby
would do, and having in my letter to you of a
few weeks ago shown what he had done, I
now come to the still more important inquiry,
Is the Noble Earl a Tory ? Would he bring
back the old state of representation which existed
prior to 1832 ?
Would he, if he were able, bring
back rotten boroughs,
with all their horrors and
evils? ‘Vould he refuse the. Roman Catholic Re-
lief Act, bring back the criminal code of George
111., restore the Test and Corporation Acts, re-
store fines and recoveries, exclude the half blood
from succeeding to hurled property, prevent lands
from lenially ascending as they have done since
1831, restore. the ten Irish bishoprics, which he

laboured so effectually to abolish in 1833, and
which, moreover, according to the Edinburgh Re-
view, was the corner stone of the Oxford and Trac-
tarian movement, which commenced first 34 years
ago, as this it was which so alarmed the Lmind
of John Henry Newman that be seriously com-
menced what has since been popularly called
PhseYism? Would he,
if a magic baud could re-
store the state of things of 10 years ago, in 1827,
towards the close of the so-called Georgian era,
sympathise with Lords Eldon, Sidmouth, and
Liverpool? In-short, does the Lord Derby of 1867
entertain different opinions, and is he at all a dif-
ferent personage from the Mr. Stanley of 1827?
Let us go a few years further back, to abort 1824,
and what do we find ? Lord Liverpool the heal
of a Tory Government, With the late Lord Pal-
merston Secretary at War in the same Administra-
tion ; our present Prime Minister, Lord Derby,
then a member, and a most efficient member, too,
of the existing Whig Opposition. "Forty years
afterwards we find Lord Palmerston, the War
Secretary of that very Government, Prime Minis-
ter ; and the Mr. Stanley of those days a member
of the Whig Opposition, an earnest member
Of the Opposition. Parliamentary Reform was
not considered necessary in 186-1. any more than it
had been in 1824 ; indeed in both the two last
named years it was far more thought of by the
Opposition than the Government. Never once
has Lord Derby regretted or expressed. against
the Government of Lord Palmerston in the
,least regret at anything he did in the days

of his youth. I answer my question, then, with their part. (Cheers.) The commodious and con- man, Sir Edward Perrott, Mr. W. H. Harton, and
the assertion by stating that Lord Derby is not a venient boat-house, the cost of which has been raised others, who are devoting so large a portion of their
Tory, but an old Whig. Yes, a genuine old Whig in Falmouth and its neighbourhood, also testifies valuable time to the affairs of the society. (Hear.)
of the Grey, Lansdowne, Brougham, Denman, that you mean not to be one whit behind other Mr. LEWIS afterwards cordially thanked the
Althorp, and Russell school—one of the very few places in supporting your lifeboat establishment. Mayor of Falmouth and other gentlemen, and the
remnants of that old time-worn Whiggery which (Cheers.) And here lam induced to make one or several railway companies, who kindly gave the
carried us through the gigantic struggle of 1831 two remarks on your wonderful harbour. lam in- lifeboat a free conveyance to her station.
and 1832. The only individuals now living who clined to believe that if you were to put forth a Other gentlemen having afterwards addressed
were efficient members of the Government which united and vigorous effort, like what I have seen in the meeting, the proceedings, which were of a vtry
carried the Reform Bill are first and foremost our your hearty welcome to the boat of mercy to-day, interesting character, closed.
present Premier; Lord Russell, Lord Grey (then the dawn of returning prosperity to the old town In the evening a public banquet took place at the
Lord Howick), and last, not least, the venerable would not be far distant. (Hear.) As men of cx- Falmouth Hotel, over which the Mayor presided.
Lord Brougham, now in the 90th year of his age— perience, integrity, and perseverance, you will yield
a shadow, but not a substance of the famous Henry to no other portion of the community, and a united
Brougham of other days and olden time. Yes, action in this, as in every other successful enterprise,
Lord Brougham is a shadow in every sense of the is principally and alone needed to insure success,
word of what he was—as Mr. Henry Brougham, for the shipping facilities of Falmouth are undoubt-
counsellor to Queen Caroline in 1820, or as Lord edly unrivalled by any other port. (Cheers.)
Chancellor Brougham of 1831 and 1832. With Surely it ought to command a very large proportion
the exception of those four noblemen just named, I of the enormous shipping of our country. It is
am much mistaken if every other member of the calculated that upwards of 400,000 vessels enter
old Reform Government of 1832 is not dead. f inwards and clear outwards from our ports every
They may in good truth be called the ghost of the year, and that they represent 70 millions of tons,
departed Grey Administration ; but the most sub- and, including their cargoes, about £600,000,000
stantial ghost of all, to my mind, is our present of money. It is on occasions when some of
Prime Minister. He more thoroughly represents these 400,000 vessels get into danger that our life-
the principles of that ministry than any other man boats and others are called into requisition, and
now living. It has been the fashion in many perform noble deeds, which we hear of almost every
quarters and circles to call Lord Derby a turncoat day, during the winter months. The operations of
and a renegade ; that this charge is nothing but an the National Lifeboat Institution embrace the whole
assumption and an assertion it is not difficult to coast of the United Kingdom, and when you are
prove, informed that our seaboard is 5,000 miles in length,

LATEST INTELLIGENOB.

(REUTER'S TELEGRAMS.)

AMERICA.

NEW YOEK, August 29 (6 p.m.).

President Johnson has ordered General llaucock
to relieve General Sheridan, General Thomas, who
was to replace Sheridan, being ill. General Grant
has executed the order.

The Belgian arrived out on Tuesday, not the
Bellona, as previously reported.

COMMERCIAL INTELLIGENCE.

CLOSING PRICES.—GoId, 1414 ; sterling ex-
change on London, 109} ; 5-20 United States
Bonds, 114 i; Illinois, 120 ; Erie, 69:1. Cotton
Midland Upland, 27.

PHILADELPHIA, August 29.
Petroleum, standard white, 28k.

(Arrival of the Russia.)

The Royal Mail Steamship Russia, from New
York on the 21st instant, arrived at Queenstown at
11 p.m. yesterday (Aug. 29), with 89 cabin passen-
gers. She landed all the mails, except those for
Liverpool and a portion of the Scotch-24 passen-
gers—and proceeded fur Liverpool immediately•
All well.

NEW YORK, Aug. 21.

President Johnson has transferred General Sheri-
dan to the command of the Department of Missouri.
General Thomas is to ccmmand the Fifth Military
District, and General Hancock the Department of
Cumberland, vice General Thomas.
General Grant has transmitted President John-
son's order to General Thomas, with additional
instructions, requiring him to execute all orders
now in force in the Fifth District, unless authorised
by the General-in-Chief to modify or annul the
same.

General Sheridan is to report himself in Wash"
ington previous to assuming the command in Vs'
souri.
It is reported that General Grant has protested
against the removal of General Sheridan, on the
ground of it_ being contrary to the wishes of the
people. President Johnson, in reply, said he ac-
nowledge d the brilliant military services of Sheri-
dan, but he lacked the judgment and moderation
possessed by General Thomas. At a subsequent ill-
terview the President and General Grant aro said
to have harmonised on the subject.
It is reported that General Sickles will soon be
removed for disregarding the President's orders not
to interfere with the Federal Courts. The WO'
tion of the processes .[A the Federal Circuit Court of
North Carolina is still obstructed by the authority
of Gen. Sickles. The captain of a steamer plyl'
between Charleston and Beaufort has been fined for

refusing a negro woman a .first-class passage.
General Pope has written to General Grant ceIll"
plaining that some prominent rebels in his district
retard the Reconstruction, which, however, be be-
lieves will be sustained by a large majority of voter
at the approaching conventions.
General Sheridan has ordered the election 0f
delegates to the Louisiana Convention to be beta
on the 27th and 28th of September. The nationsl
troops are to protect the elections where fraud Oa
violence are perpetrated.
The Richmond City Council has protested t°
General Scholefield against having to support negr°

paupers. • 1
Mr. M'Culloch has published an emphatic clel3'3
of the report of the over-issues of national seer

rities.
Meetings of the Radical soldiers and sailors 111
been held at Washington and Philadelphl3l :qv
which the conduct of Mr. Stanton was bearti
endorsed, and the removal denounced.
Judge Holt denies the truth of the recent report':
connecting himwith a conspiracy against Preßideu
Johnson.
The frigate Elizabeth has been detained at -Tesci
Orleans by Admiral Tegethoff.
It is reported that the body of Maximilian t
laying in the church of Queretaro, and Was 13°
delivered to Baron Magnus.

AUSTRIA.
VIENNA, Aug. 3°' 0
The New Free Press says that a meeting of til,
Austrian and Hungarian Ministers will be bold t°o
day, under the Presidency of the Emperor, 1111:i
the proportion of the public debt to be bort°.
Hungary will be discussed, and some propositl%
made to be submitted to the Austro-1-lupgarls
Conference.

FRANCE. riot
BOURSE, August 29, Two o'clock.—The 07,0c1
is decidedly weaker to-day ; sales predominate7:oo
quotations are consequently lower. Threes at
declined 10e., to 69f. 40c. Italian FiireS re,,ier
48f. 80c., also a decline of 10c. Credit MoAbl'io
shares lose sfr. —at 298 f. 75c. ; and $O,llO.
Mobilier, 3f. 75c.—at 192 f. 50c. Comptoir
compte and Credit Foncier have each receclel2/f,
50c. Immobiliere have fallen 7f. 50c.--at
50c. Railways are likewise at lower prices.
Three o'Clock —The market closed as follows',
41 per Cents 99 95 Bank Shares ...... 30° 10
Do. end mouth — Italian Loan ....•••' 443 ai
3 5
3 per Cents. 69 30 Do. end mouth ...•••
Do. end month 69 30 Mexican Loan ......
Credit Mobilier 293 75 Do. Bonds .......••
Do. end Month 297 5U Spanish Threes
Credit Foncier 1360 home Debt .........
Da. end month 1362 50 Deferred ...........

Orleans
Northern
Lyons and Mediterranean F0ir88115°67:2---r
552 50
Southern
5
Western 567 50

RAILWAYS.

Eastern
Sardinian
Austrian
Lombard
North of Spain
Saragossa
Roman

543
50
477 52,
375 -
70
83
49

TILE STRAND THEATRE.—This theatre 1'571
surrendered into tho bands of Mr. and Airs. Howard 0501
who for a period will give, we doubt not, with the'rsolls4'
success, their celebrated impersonations and poE Pill )1/tr.
AN iNCIDNT OF TILE LATE TILLINDEI/51-13f It
ij
m
After the late thunderstorm a an iu the emploY °
Qf
Knott, of Lytle Patin, Yeovil, discovered that shy ls
,1 011
0"
'orB
master's heifers had been killed by lightning. 11.1
removed from the Bold in which they were kale" 11
following day to a barton ; but a quantity of
left on the groung over which they were deagVi" 013°
evening the remainder of the dairy, about 30 ia ilstleveCL'4l
woo taken over part of the same ground, wbillo°ol,
1:1P
of them becamo infuriated on smelling tile
gored each other furiously, and ate so much l°s°
they became "blasted." Nino oft he animals 113eivin
died, but the remainder are not injured. The I°s
nearly £2oo.—Dorset County Chronicle. pOrlfi
THE BOSCAWEN TRAINING
County Chronicle says that Portland and Woyraoll!_ retarl
gated by a movement in Southampton to obtain tli",reveficf
of the Boscaweu to that town, have taken geP3 W d Di%),"
such a disastrou3 measure to the neighborllcoviet!
carried out. The expenditure on account of th itver„3
is about X.2-I,OA annually, and consequently the
fi to :0
ance of keeping her in that locality node scal,.eifion
demonstrated. The result has been that a P-tbuo AO'
been prepared for presentation to the Lords 01
ralty on the pubj.2ct.

NONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.
The affairs of the Atlantic and Great Western
Railway have become notorious, their gross finan-
cial mismanagement having brought the whole road,
its directors and managers, into disrepute. This is
Proved by the non-payment of dividend, the issue of
mortgage bonds, and the marketable value of all the
securities. In the columns of a contemporary,
well supported by the principals of Bank of
England, letters appear, signed Janus ll'llenry,
in
.which elaborate efforts are made to ex-
pima away the difficulties in which European
investors' interests have been grossly sacrificed by
unscrupulous management. Mr. James Mc Ilenry,
in an aphorism with which he is no doubt well
acquainted, will remember " qui s'excuse s'accuse."
What could be more significant of maladministration
than the following admission of Mr. James
I‘‘llellrY.—" Had the affairs of the road been
.vigorously administered, its resources fairly deve-
loped, and reasonable economy exercised in its dis-
bursements,
all interest money would have been re-
gularly provided, and consequently, from sustain ed
credit, a very much higher rate had from sale of
bends and shares under pledge for advances. The
realisation of these latter at disastrous rates de-
prived me of the use of at least a million sterling
in 1866—caused me a loss to that extent in money,
and greatly more in credit." Mr. Wlienry men-
tions that if his views be carried out the property
Ilia)? be brought to a state of solvency in three
Years. The bondholders and shareholders may
suggestively think, in accordance with another
Proverb—.

"Notre mal s'empoisonne
Du secours qu'on donne."
To all who have money invested in this undertaking
there is only one word of advice, and that is, re-
organisation.
There was an influx of £138,000 in bar gold,
_and 9,000 sovereigns- from Paris at the Bank of
England yesterday. The shipments of gold from
Melbourne since the departure of the last mail have
been to the extent of £718,000.
Atlantic and Great Western Railway Debentures
remain at 23 25, and the Colsolidated Mortgage
Bonds at 21 22.
The Alice has arrived at Liverpool from New
Orleans with Mexican dollars amounting to £70,000;
and the Queen, from New York, has brought about
£50,000 in specie. The Mexican dollars by the
West India packet have been sold at 59d. per
ounce, and the bar silver at 60id per ounce.
In the Foreign and Colonial Produce Markets
during the last few days there has been very little
animation. Sugar has been in limited request at
barely. previous rates, while superior qualities of
coffee have been in demand at full values. Rice
has been neglected, and the operations in tallow
have been too limited to cause any material change
in values.
The return from the Bank of England for the
week ending the 28th August gives the following re-
sulsts when compared with the previous week :
üblic
I, t "' •••
£3,374,774 Decrease £25,160
Other dePosits 7,350,218 Increase 823,704
deposits 18,870,130 Decrease. 598,315
Govo a the other side of the account :
terntnent securities £12,812,373 No change.
Other r securities 16,976,823 .., Decrease 75,836
Other
unemployed „ 13,631,585 Increase 205,165
.The amount of notes in circulation is £23,693,810,
,I3eing a decrease of £238,080 ; and the stock of
bullion in both departments is £23,574,726, showing
an increase of £42,065 when compared with the
Preceding return.
ofof Subjoined is a comparison of the present position
. the Bank of England and the price of Consols
with the corresponding week of last year :
Same week
Dank bullion
At present. last year.
ut •
6,933,510
832,020
l'l es in reserve...
£23,574,726 .£l5,
14,880,916 ...
Notesin cite ulat* 0 r 23,898,510
Alt • - I°ll ... 23,693,81 Rate of thscount 6 per cent.
2 per cent.
rriec of Consols 89i
The ••• 94i •••
return of the Bank of France for the past
ilveek shows the following alterations :—An increase
e Cash in Hand of £620,000 ; Private Accounts,
£61.3,000 Bills Receivable, £196,000 ; Notes,
180,000 ; Treasury Balance, £66,610 ; and in the
Adjances £5,000.
-the letters of allotment of the Taquaril Mining
Company (Limited) have been issued.

o'.
i Only a few transactions have taken Two CLocic
place to-day
n the market for the British Funds, and the other
departments of the Stock Exchange business have
also been depressed. Consols are 91
1 for money
411 d account, and 941 / for October settlement.
The Nevr Threes are 941 f
; Per Cents. 1121 13.
of Foreign little variation has occurred in the value
Ott3 Foreign Stocks. Italian are 481 ; Greek 12
i 1 ; Mexican, 141 ; anish
Sp hPassive, 181
erva
nd I cates 154 ; a Turkish 5 per Cents.,
01
A very limited amount of business has been e%eted in the Railway Share Market, and with tran-
one
or two exceptions lower rates are current. Metro-
Pelitan have receded 1, Great W 1, and Greatestern 1 astern and Brighton each ; while Caledonian
have improved 1. Great Northern A stock is (Noted 1141 ex div.; North-Western, 112 - 113+
ex div.; Midland, 117 ex div.; and South-Eastern,
651 66} ex div.
The Foreign and Colonial lines remain inactive,
Great Luxembourg being marked 101 ; East
Indian, 1104 ; and Great Indian Peninsula,
110 i 111.

American Securities have improved. Erie
Shares, 44i 45 ; Illinois, 764 77 ; and United States
- 2
9
"0 Bonds 73i I.

Calflmbian, 6 per 0 ent. ,.
Danish, 3 nor Cont., 1825
D inubian Principalities, 7 per Cent 6l
Do 8 por Cent., 1867 59
EquadoriNew Consolidated, 1 per Cent —
,!:gyptiarr.:7 per Cent —
DO. Second Issue

Do. £lOO Bonds
Do. Do. 1864
Do. £lOO Bonds B7 I
Do Government Railway Debentures B5l 6
Greek 5 per Cents., 1824-5, ex Coupons
Do. Account
Do. Coupons
Do. Account
Gaatemala 5 per Cent ..
ltqlian 5 per Cent., 1865

DD. Account ..
;)o. Marernnutna Railway —
NI +xiear. 3 per Cent —
Ditto for Accourt
Dn. 1864 —
De 6 per Cent. Anglo-French —
Sardinian, 5 per Cent —
Sp!mist' 3 per Cent —
Do Account

Do New D( ferr.A
Do Account
Do Passive —
Do Ace. ant
Do Cem. Cert. of Cou, . nut fu dod
Do Account
Zurkish 6 per Cent., 1851 -
Do Account
Do 6 per Cent. 1858
Do Account ...
Do £lOO Bonds
Do 6 per Cent., 1862
Do Account
Do £lOO Bonds sBi
Austrian o par Cent. Ex 10 Florins
Belp-' - lr cent., Ex. 25f

Jelgian, 44 per t.,, ~
Dutch 24 per (lent. Ex. 12 Guil
Do. 4 per Cent. Certificates ...., —
TWO O'CLOCK.
Console, Money 941 i
Do. Account September 10. 94} i
Do. October

7HE PROPOSED REFOR' MEETING IN

GLASI3O TV.

The following is a copy of the answer by Mr. D.
M'Laren, M.P., to the invitation from the Scottish
National Reform League to attend the great Re-
form meeting proposed to be held in Glasgow on
the 17th of September :
" House of Commons, Aug. 20, 1867..

. ,
" Dear Sir,—l duly received your letter of the
10th inst., inviting me to attend • the National
Conference of Pulitical and Social Reformers to
be held in Glasgow on the 17th of Sep-
tember, and have to thank you for the
honour done me by the invitation ; but as the
Reformers in Glasgow and the West are well able
to manage their own affairs without any aid from
Edinburgh and the East, and as I have remained
here during the whole Session and require some re-
laxation from labour, I hope my non-attendance
will be excused.

"..As you ask my opinion respecting the future, I
may state that the burgh franchise is now so ex-
tended that I think all agitation for any further
extension should cease for many years. It seems to
me that the ballot will be required to protect depen-
dent voters, both in burghs and counties, under the
extended franchises, and that without this or some
other protection to these classes we shall not have a
Parliament so independent as it ought to be for the
public interest.
" The question of a good Reform Bill for Scot-
land seems to me to require the serious attention of all
classes and parties in Scotland, with a view to in-
creased representation, and I cannot doubt that if
the people of Scotland will earnestly unite for the
promotion of that object they will be successful. I
have never met with one English or Irish member
who, in conversing on the subject, did not
admit that seven additional members were
far too few, nor anything like an approxi-
mation to justice to Scotland. Owing to the way
in which all discussion on the Scotch Reform Bill
after the first reading was managed to be suppressed
the House of Commons cannot be held to be com-
mitted even to the increase of seven members, be-
cause the second reading was carried by a surprise,
without any discussion; and on this account it
does not carry the moral weight it would have
done had the increase been agreed to by all parties
knowingly, and after a full discussion. On the
first reading of the bill, after several Scotch mem-
bers had praised it more or less, I took the liberty
of condemning it very strongly as being quite in-
adequate in extent, arid unjust in its proposed distri-
bution of the seven members, as well as in other par-
ticulars ; and the more I have thought on the sub-
ject since that time, the stronger have my objec-
tions become. Within the last week a new return
has been printed on the motion of Mr. Crawford
(No. 524), brought down to the 31st of March
of the present year, which shows that during the
year ending at that date Ireland contributed
£4,494,046 under the four great heads of Excise,
Stamps, Land and Assessed Taxes, and Income-tax,
while Scotland contributed£6,ol6,74B under the same
four heads ; and yet Ireland has 105 members, while
Scotland has only 53 ! Nothing could more clearly
show the flagrant injustice of the present distri-
bution of legislative power, under which Scotland
has become merely a great sponge, out of which is
squeezed annually the largest possible amount of
taxes with the least possible degree of influence re-
garding their application. The consequence is that
Ireland, which pays so little into the exchequer, gets
at least four times as much out of it as Scotland
gets, as will soon be proved beyond the possibility
of cavil or dispute by a return which I have recently
moved for, and which I hope will soon be forth-
coming.—l am, dear Sir, yours faithfully,

_
" D. 11PLAREN.
"Mr. George Jackson, sec., Scottish National -
Reform League, Glasgow."

7HE LONDON, BRIGHTON, AND SOUII-1

EASTERN RAIL WAY.

THIS DAY.
• The 43d ordinary meeting of this company took
report,
The or,
place at the International Hotel this morning, Mr.
S. Laing in thet chair.
which has already appeared in The
Sun, was taken as
The CHAIRMAN said, after the seal had been affixed
to the register of shareholders, in moving the adop-
tion of the report, that the report had gone so fully
into detail that it was not necessary for him to say
much. As a very small section of the shareholders
were present at the meetings it was necessary to
make the report :a critical one, and have everything
placed as clearly and distinctly as possible before
the whole body. He would come to the broad fact
at once, that in 12 years they had doubled their
capital, and not got an increase of income. It was
an unpleasant thing, and he did not wonder that
both the shareholders and the directors were un-
willing to look this evil in the face, and
they went on until no more money could
be obtained, and they, he thought, owed a great
deal to the committee of investigation, who had ex-
posed the true position they were in. They now
knew the worst, and he trusted would go on in a
different manner iu future. When the new
directors took office they found that if something
was not done they might get into Chancery. One
of the great advantages was the settlement of the
debt with the Union Bank, and it would be
' advantageous to the bank. If the issue had been
made it was inevitable that they must have gone to
the Court of Chancery. By the allotment, the
whole account would go amongst the shareholders,
and there had been a small premium, which was
advantageous to the smaller ones. The whole had
been taken up, and the money put into the
company's bankers. They were now in a
state of solvency, and their liabilities were
reduced to about one million and a quarter,
and their assets were £90,000. There were other
questions with regard to the lines that were bank-
rupt which he should be obliged to defer, as it
would answer no purpose to state what was their
intention with regard to them at present. The
works on the lines which had been suspended had
been recommenced, and they were progressing on
the South London and Sutton lines. The Brighton
Company had arrived at such a state in raising
capital that they must pay for their stations, im-
provements, &c., by a reduction of the dividends.
They could not charge these expenses to capital.
They must charge them to revenue expenditure, and
this would reduce the dividends. As to plant, that
ought to be charged half to capital half to revenue.
He concluded by stating that the expenditure of the
half-year, with a small balance, nearly absorbed
the revenue.

COLONIAL GOVERNMENT SECURITIES.
British Columbia, 6 per'
cent., Deo. 31, 1572 100 -
- Can.Gov.6p.c.Ja.&July
1877-84
80. 6p. O. Feb. & Aug lOO 98 100,
--- o. sp. 0. Mar. & Septloo 101 113
Uo. sp. 0. Jan. & July 100 85 86 881 8
1
-- i Do. sp. c. Inscribed sk, 100 83 55
Capu G.Hope, 0 p.c.18731 100 104 106
. Do.Apl.&Oct, 1890-1900' 100 106 107 107
-- Do. do 1880-9 u 100 104 106
Do. Jan.&July, 1890-9, 100 104 105
Do. 5 per oeut. 15 April
and 15 Oct., 1900 lOO 94 il
Ceylon, Nov. 1868, 6p. t lOO 101 104
Do. 1878, do lOO 109 Ilv 110
dlauritius, 6 p. 0, 1873,
Jan. and July
Do. 1578 ... lOO 164 106
Do. 1882, Mayls, N0v.15 100 105 107
Do. 1895, Feb. & Aug lOO 104 1(6 .
Natal riov. 6 per cent lOO 101 103
N.B.Gov.6p.o.Ja.&July 100 98 100
N. S.W. Gov. 5 p•c.,1866 100 96 98
Do. 5 p.c. 1871 to 1876 100 -
- Do. 5 p.c. 1888 to 18951 100 91 92 031 I
New Zealand, 6p. cent 100 -
- Do. 5 per cent....
Nova Scotia Gov. 6p. o
sterling, 1875 l9O 98 99
Queensland Gov. 6p. c lOO P 8 100 991 4
S. Aus.Gov. 6 p,0.1868-9 100 -- -
- Do. 1878 & upwards lOO 105 107
Vio,Gov. 6 p.c. ia & July 100 -
- Do. do, April & Oct lOO 1111 1121 1121 111
BRITISH POSSESSIONS.
100 Atlantic & St. Lawrence all 50 681
at 1 Bom.,Baroda,&Cen.ln. 100 103 1034 103 4
gu. 6 per cent
20 Do. F. shares lO p 4p
201 Buffalo & Lake Huron all 4 it
10 Do. Preference all 5 6
100 i Buff.,Brant,& Goderich
6 p.c. 1872-3-1 lOO 68 71
at Calcutta &S. E., lim lOO
at Jape Town & Dock, gu lOO 65 65
•00 Demerara, 7 p.c. per. pi all 99 101
st East. Bengal, gu., sdo 100 100 102 101
at East Indian, gu. 5 p.c. 100 1(0 110 1101
20 Do. J Extension
at GrandTrunkof Canada 100 17 18
100 Do. Equip. Mort. Bonds
1 charge 6 p.O all 80 85
100 1)o. let Pref. Bonds all 50 52
100 Do. do deferred
100 De. 2d Pr..f. Bonds., all 10 45
100 Do. do. deterred
100 Do. 3d Pref. stock all 32 S 4
100 Do. do. deterred
100 Do. 4th Pret. stock
100 Do. do. deterred
et (.it. ludiaPen.gua. sp.c lOO 107 109 1101 11 101 11
1) io. Gus.. 5 per cent lB 2 P
20 Do. New gua. sp. c 6 2 P
at (It. South. el India
gua. 5 ~er cent
at DD. 41 per cent lov 92 94
at Do . . .
20N treat W, s. of Canada all 154 154
204 D. New..,. -
100 Do. 6p. c .11(..5. pay. 1873 all 95 I'7
100 Do. 51 do. pay. 1877-8.. all 85 67
10 Indian Branch, limited 3 4 44
at Madras, gua. 5 p.O .... 100 100 102 104
at Do. 41 do lOO 93 95
at Do. 11 do lOO 89 91
29 Do. Fifth Extension 5
et dlelb. Cor. 6p. c. Buds. 100
50 Mel. & Hobson's Bay.. all
Ist N.Rl.C'clat,6pclstpf.ba, 100 83 85
at Scinde 100 100 101
at Do. Delhi igi dloo 1001 1011 1014
do . :',; 4. 15 4
20a p
t Dg, vuni (tub.... n . 100 99 100
at Do.lndus St.llot bk 100 85 87
-------