The Sun.
London, England, 1857-11-21 00:00:00

LAND x;411
'7;411
DUBLIN, FRIDA
THE MONETARY CRISIS. X S
The Frcemans Journal of this morning, in the
course of some remarks upon the progress of the
monetary crisis in England and Scotland, states that
some vile miscreants are endeavouring to create a
run for gold on the branches of the Irish joint-stock
banks, the Provincial, the National, and the Bank
of Ireland itself being the establishment selected
as the intended victims of this wicked machination,
The Fs-eel/ten obsorvt,s :
" All there establishments; were, however, prudently
prepared for the possible outburst of such folly, and gold
was supplied in abundance to all the branches. In Lime
rick and in Cork a partial run ou the Bank cf Ireland,
the Provincial, the Nations', sad on the Savings-bank
WAS persevered in for a time, but abandoned when the
promptness of these establishmeuts to meet the demand
became evident, and some of those who withdrew depo-
sits and obtained gold are now returning the gold to the
banks. It is gratifying to see that in Ireland people are
recovering their reason before the mania had time to do
the only harm it was capable of doing here—compelling
the banks to restrict accommodation. It is quite true
that a universal and simultaneous run for geld on all the
banks would close every bank in the United Kingdom,
and probably produce almost universal bankruptcy. But
no such run is possible, and no run that could be made
in Ireland could do more than give trouble to the banks,
and bring serious loss to the people who would be active
in it. It could not injure the banks which are now fully
prepared to issue any amount of gold that could by pos.
sibiity be demanded, but it would prove doubly iejuri•
ous to the property, of thecountry, and bring irremediable
ruin on many now thriving and prosperous traders."
The Banner of Ulster, alluding to the last list of
commercial disasters in England, mentions as a re-
markable fact that only one of the many failures
that have been announced has touched the mer-
chants and traders of Belfast ; and in this instance
the effect of it will barely be felt by the two or three
parties concerned. It is al,se a gratifying fact that
there are no failures to announce in Belfast. There
are, however, other announcements in the same
journal which are by no means of the same cheering
character. Of the powetieeen weavers it says
although such a course was
fully at. - two of the principal firms in
Belfast e. she manufacture of linen by power
have resseved to eon their engines aboit time. • One of
the factories has already commeeeedivorking eight days
in the fortnight, and the other will next week be placed
on half time. This will greatly reduce the earnings of
several hundreds of workers, and subject them to un-
usual privations, at the present high price of provisions.
It is to be feared that the remaining powerloom houses
will be obliged to follow the example. Tee reduction
of hours has no direct connection with the monetary
crisis, hut is owing chiefly to the increase of stocks and
the disinclination to fulfil American orders, should such
offer, or even where they are actually on hand."
The state of the cross-Channel trade, too, indi-
cates a remarkable depression of the trade between
the two countries,—
" We understand—and are not surprised to learn
that such is the case—that within the last few weeks our
import and export trade with the other side of the Chan-
nel has bean checked to a considerable extent by the
present unsettled state of commercial and monetary
affairs. Two steamers are now found sufficient for the
Llverpool line instead of four, and those running to all
the other parts in England and Scotland only obtain
partial cargoes either inwards or outwards. This is
scarcely to be wondered at when the outward-bound
trans-Atlantic steamers are leaving wish, in some in-
stances, cargoes only one-eighth the usual amount."
But it is in the sewed muslin trade—one of the
most important branches of commerce in Belfast—
' that a great check has been given to the prosperity
of the capital of Ulster. The failure of the house
of Macdonald and Co. appears to have been se•
verely felt in the north of Ireland. The Banner
says :
" That house had grown and grasped until it became
too great for any ordinary man to manage its details.
The engine, thcugh unfit to drive the cumbrous ma-
chinery, was forced on, until at length the boiler
burst, scattering dismay and destruction on all with-
in its reach. It has been well said that, had the bmi-
ness attempted by the firm in question been done by 30
houses, the trade, the country, and workpeople
would have been much better to-day. The failure of
Messrs. Macdonald has not only thrown out of employ-
ment the thousands of workers engaged by that firm,
but the dread of the peremptory sale of their stocks of
finished goods, and the effect it would produce on the
markets for several months afterwards, causes far-seeing
manufacturers to desist from production, well knowing
that every jobbed parcel of goods destroys, f, r the time
being, the real value of regular manufactures. This
feeling, together with the late panic in New York and
the pressure at home, has so acted on the trade here that
not one in every 20 of the girls formerly employed is able
to obtain wcrk at almost any rate of wages. We meat
not omit stating that, whatever may have been the short-
comings of the firm of Macdonald and Co. as regards
their policy in the market for goods, no charge could be
made against them as employers ; and we have heard that
since the suspension of the firm every single piece of work
in the hands of sewers through tho country has been re-
gularly paid for as soon as it was returned to the head
warehouse in Belfast. As soon, however, as each saterse
finishes, no farther work is given. In the heyday of their
enterprise the Messrs. Macdonald keptabout 15,000 hands
in regular employment. Messrs. Lindsay, of Victoria.
street, had several thousand gills at work throughout the
country ; Messrs. S. It, and T. Brown were most exten-
sive employers ; J. and W. Wallace, Major, Brothers,
and a host of ethers gave full work and wages to almost
incredible numbers of girls and women, but nearly
all such sources of labour have been closed up, and
the vast sums so paid away no longer being comfort
to the firesides in cabin and cotta,,'e. In the case of
the sudden collapse of the sewed muslin trade no
warning note told of coming ill. A few months ago the
houses connected with the different branches were in
full work, and prospects of an active trade for a long
period were highly satisfactory. Irrespective of the
tens of thousands of females who have been thrown idle
in the provinces, there are now immense numbers of the
higher order of workers unable to find a single day's
employment in Belfast. Engaged in the finish of goods
at the several warehouses iu town two years ago there
were about 500 young women, and most of them were
of a very superior class, well educated for their rank,
well conducted in their habits, and in point of skill un-
equalled by any other grade of female artisans. Besides
these ' white workers,' there were not less than 2,000
girls and women engaged in the gray work— that is,
in embroidering goods for the several firms, local and
Scottish. The wages so earned added materially to the
weekly income of many a household. Good workers
could earn 6. to 7s. in the six days, and ordinary a,
hands were able to make 33. to Sc. Many of the
wives and children of working men were exceedingly
expert in sewing, and, after having attended to house-
hold duties, could have earned ls. a-day. The total
amount of goods given out by all the houses in town at
present would not, we understand, give work to one
in 20 of these people ; and in the mass of yonug women
engaged in the finishing department the ratio of the
idle to the employed is no less exteasive. Up to the
present, or at least until within the last fortnight, num-
bers of hands got partial work in finishing goods which
had been in hand at the time of the first great change in
the trade ; bet nearly all such sources of employment
are now dried up, and thus hundreds of well-conducted
and intelligent women will—most of these, at least—
be left without means of support."
As an instance of the gold mania among the
farmers in the coutOt of Limerick, the Evening
Post narrates the following on the authority of a
local correspondent :
"A gentleman who fills several important agenciei in
the south was applied to by a great many of the tenants
to identify them at the different banks, whence they de-
sired to withdraw their deposits. On the gentleman re-
monstrating with them on the groundlessness of their
fears, they put the sincerity of his explanation to the
test—' Would he receive their draughts on the banks
for their rent, not due till March next, and give them
receipts r He did so at once, and obtained checks for a
considerable amount."

THE I'OPE AND THE SEPOYS.

The Evening Post authoritatively announces
that the Must Rev. Dr. Cullen has received 1,000
francs from his Holiness the Pope, and 600 francs
froin the Cardinal Prefect of the Propaganda, for
the relief of he sufferers in India from the atro-
cities committed by the Sepoys. Perhaps after
this hint we shall on some early day hear of the
Irish Roman Catholic clergy following in the wake
of the Sovereign Pontiff; and evincing their sym-
pathy in the same cause by appointing a day for a
general collection throughout the whole kingdom.

NEW POST-OFFICE RECEIVING-BOX AT THE CUSTOM.
lIOCSE.—To afford facilities a large handsome bcx, duly
emblazoned with the royal arms, and having the dates
of delivery marked upon it, has neen erected in the hall
at the centre entrance of the Custom-house.—Civii Ser.
vice Gazette.

[ADVERTISEMENT.]—We quote a few more of the extraordi-
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great misery, and which uo medicine could remove or relieve,
have been effectually cured by Du Barry's Food in a very
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is
Du Barry's health-restoring Food.—l shall
i happy
Ridlingtoa
answer any inquiries.—Rev. John W. Flavell,
excessive
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arm, and
servant
td
hady
nervousness, with pains in my neck and
very miserable,
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Supported by testimonials from the s
horland ; Dr. Harvey
Chemistry, Dr. Andrew Ure; .
Dr. Wurzer ; Dr. Ingram ;
ceoalfeb.yrTtessd Professors of
Food,—Alex. Stuart, Archdeatchoen
Dr. Campbell ; Dr. Gattikerthe
'Dowager Countess of Caste_
Stuart de Dccies;as King, and many other respeetabl
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canisters, 11b, • , . , 51b,
strnctions. In
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cle2i
pl bt ,0 f , , The 121 b canisters are sent carriage free,
oii
228. The
order.—Barry Du Barry, & Co.,
77, Regent-street, et, bunion. IMPORTANT CAUTION against the
l r
0 ,Sir William Page Rood, granted an Injunction on the
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IlOrth 3 Vt,larcb, 1554, against Alfred Hooper Nevin, for imitating
"Du Barry's ReValen t a Arabied, Food."