The Sun.
London, England, 1857-01-19 00:00:00

Times.) f7:INS PAT
(From the
Wo have received a communication on the part-,
of the widow of the late Mr. Joseph Haydn, whose
" Dictionary of Dates" and " Book of Dignities"
will be so well known to many of our readers. k.
The position in which this lady has been left by
the death of her husband is so distressing, and her :It
husband's claims as a labourer in literature are so S
undeniable, that it would be hard indeed to recon-
cile the merits of the case with its realities. Mr.-
Haydn's publications were exactly of that sort
which are more frequently consulted than com•
plimented. Under the humble aspect of indus-
trious compilations they make, it is true, but little
figure by the side of the more pretentious pro-
ductions displayed in all the luxury of " library
editions" upon the shelves of the rich and the
learned. They are not, however, on this account
either the less useful or the less used, and we
should rejoice to see the practical value of such
unattractive labours now reco.nised in the consi-
deration extended to the forlorn representative of
one who so serviceably pursued them. The pen-
sion which Mr. Haydn received from Government
has been continued to his widow, but 251. per
annum is ne very adequate provision for a lady
and three children, nor is it, we think, a measure
of the obligations under which the unobtrusive but
useful studies of Mr. Haydn have placed a large
class of readers.

TO THE EDITOR OF THE TIMES.
Sir, I beg respectively to sny that J am the widow
of the late Joseph Haydn, the well-know— author of the
" Dictionary of Dates," the " Book of Dignities," and
other works, who died in January last, leaving me with
three children totally unsrovided for. Althotr4h the
Government pension of 251. per annum to my late hus-
band has been kindly continued to myself, still I am
unable to previ le for or educate my little children,
who are dependent on my feeble exertions ; and I
now appeal to your benevolent sympathy in behalf of
my orphan son, whom I am endeavouring to get ad-
mitted into the Royal Asylum of St. Ann's Society, but
for want of means and sufficient influence I have little
hope ,of being successful. Such is the helplessness of
my position that I have little hope of being able to edu-
cate or keep a home for my children. lam persuaded,
were you aware of the distressing position in which I
am placed you would not withhold your kind t.3mpatby,
and would readily pardo❑ a mother's anxiety in seeking
an education in some way suitable for the future welare
of her children ; but, unhappily, there is no asylum, no
Aid, and but little sympathy for the children of a poor
literary man.
I now most earnestly implore your kind influence to
aid ate 'A the effort I am making in behalf of my youngest
son, Thomas Matthew Haydn, and humbly hoping to
meet your kind consideration, I am, sir, your very hum-
ble and respectful servant,

MANY HAYDN.
13, Crawley-street, Oakley-square, Jan.

THA TURKISH NATIONAL BANK.

The formal acceptance of the concession for the
Turkish National Bank was despatched to Constan-
tinople the day before yesterday. Meanwhile no-
thing further has transpired regarding the princi-
ples on which the establishment is to be definitively
constituted. Assuming the leading conditions al-
ready promulgated in London to be unaccompanied
by any drawback, and that it is the intention of
the Turkish Government to allow the details to be
arranged solely with a view to the legitimate wants
of the country and the permanent interests of the
Bank, they would appear to afford a founda-
tion for all that can properly be required. The
statement that it is intended the institution should
be modelled, as far as possible, on the best features
of the Bank of Frauce and the Bank of England,,is
favourable, but in the present case there is a
function to be performed for which routine ex-
perience furnishes little light, and which involves
very critical consequences, not only as relates
to the success of the experiment, but also to the
specie question in England and other countries.
This is the restoration of the Turkish currency.
The existing circulation seems to be estimated at
8,000,0001., of which more than two-thirds consist
of paper in the form of Treasury notes bearing
various rates of interest, while the remainder is
made up of coin in different stages of depreciation.
The whole is to be redeemed by the Bank either in
specie or its equivalent, and upon whatever may
prove to be its amount the Turkish Government
are to allow to the Bank an annual rate of 6 per
cent. It will be said, if the Bank with a nominal
capital of 10,000,0031. or 12,000,0001. are to employ
8,000,0001. in this manner, and to receive for it
only 6 per cent. on the security of the Turkish
Government, the prospect is such that no one would
accept, especially while Turkish 6 per Cent. Bonds,
secured by the Egyptian tribute and always nego-
tiable, can be purchased in London at 95. But
this mode of patting the matter would be erroneous.
While the Bank would receive from the Govern-
ment 6 per cent. ou 8,000,0001. their actual outlay
would amount only to a small proportion of that
total. They are to have an exclusive right to issue
notes payable on demand, but which, like those of
the Bank of England, will doubtless be made a
legal tender between all other parties ; and it is
fair to presume that these will, in a great measure,
take the place of the currency the Bank are called
upon to provide for. Supposing only half of the
8,000,000/. to be thus supplied the position of the
Bank would be as follows :—They would have re-
ceived about 6,000,0001. of Government paper ansl
about 2,000,0001. in coin. On the other hand they
would have disbursed 4,000,0001. of specie and
issued 4,000,000/. of their own notes. The result
thus far would bean actual cash outlay of 2,000,000/.
Against their own notes, however, they would
have to maintain a specie reserve of a third,
or about 1,333,0001. Their entire outlay would
therefore be 3,333,000/., exclusive of expenses.
Upon this the allowance by the Turkish Govern-
ment of 6 per cent. on 8,000,000/. would be equal
to 14 per cent. The latter, therefore, is apparently
that which under the least favourable view should
be regarded as the rate granted by the concession.
It may even be contended, and not altogether with-
out grounds, that in this estimate the probable re-
sults are too narrowly stated. There is no room to
doubt that the convenience of a paper circulation,
guaranteed by the periodical publication of the bul.
lion held against it, will be at least as fully appre-
ciated in Constantinople and the other principal
cities of the Turkish empire as in any part of the
world. The intelligence of the Greek houses, who
command all the leading business, and the groat
faith of the Turkish population when they find they
are being honestly dealt with, appear to insure this
result. It is possible, therefore, that the circulation
of the new bank may prove equal in amount to that
which is about to be withdrawn, and in that case
the advantages enjoyed will proportionably in-
crease. Admitting, however, the full force of
these c nsiderations, great care will be required to
be exercised by the founders in adjusting not only
the mode of carrying out the object in q estion,
but also the termson which the capital of the bank
is to be called up. The inimedn,te solidity of the
establishment, and the convenience of the money
markets of London and Paris ate alike cenoerned
in these matters. If the redemption of the cur-
rency were to be effected by a sudden operation, it
would he necessary for the hank to provide them-
selves with an amount of bullion nearly equal to the
whole of it, since they could not rely that their own
notes would at once be accepted to any large extentndt
by a population not familiarised
rup; nalmosot
provide this they would be obliged to
oudlrdainatutphoensaomuer
y ,
effected in notes, a certain percentage of which are
th
market. If, on the contrare redemption is
ttihmeior
eesititaibrleischapaitmal,,)st
omomouptiliest,edthe withoutent entire
the opera-
tion
ne-
cessity
while
ttthi reby would
i n
made to become convertible at periods extending
of a single ounce of gold being procured from
side, the advantage being also gained of less
over
likely or
rbe 12
than one half of the nominal capital of the bank
altogweti
most r
being required to be paid up even by the cud of
that period. The abundance of English sovereigns
at present spread throughout Turkey is such that
so far from the bank calling for our gold, they
might be the means of affording to the holders of
these sovereigns a safer medium, arid thus accele-
rate their reshipment hither. In relation to the
amount of capital, as the chief business of the
bank, beyond the control of the circulation, would,
in the ilrst instance be that of assisting the revenue
collectiovs and conducting the payments of the Go-
vernment at a certain charge, ix a manner analo-
gous to that of the Bank of England, there could
be no pretext for a sum being called up much be-
yond that vhich would be needed for a proper
bullion reserv.e. Looking at the grave interests
thus involved , and the extraordinary commercial
development • which both the European and Asiatic
provinces of Ti arkey seemed destined to attain, and.
which has hith vto been retarded as much by the
absence of roads and of a sound currency system as
. causes, it will be seen that the
by any politicalti to most vigilant attention • that it
subject invites
will be the duty If all our financial and' trading
classes to watch tha -t spirit in which its promoters
frame their plans ; to give every encouragement
..
to the undertaking if, upon a careful scruor and
its terms shall pruvk t consistent withl
inviolably
of an at-
aud to denounce it if
d they
find
therotdaui ce a single
t-mpt, direct or in _Area, tto itntat t
he minds at
feature such as won
,en
b
ethe slightest degree
work upon it have lilt j
Mobilier mania on the
corrupted by the C.
Tjtnes City Article.
continental bourses.—