The Sun.
London, England, 1857-11-13 00:00:00

BOROUGH HOP.

The show of samples of both new and yearling hops has
rather increased, and there is no disposition shown on the
part of the brewers to operate. The demand is, therefore,
heavy, and the quotations are almost nominal.
New Mid and East Kent pockets, 70s to 120 s ; Weald of
Kent ditto, 60s to 84s; Sussex ditto, 56s to 72s per cwt.

GOVERNMENT LETTER TO THE BANK

OF ENGLAND.

DOWNING-STREET, 12TH Nov.
i GENTLEMEN",
Iler Majesty's Government have observed with
great concern the serious consequences which
have ensued from the recent frAtlre of certain
joint-stock banks in England and Scotland, as
well as of certain large mercantile firms, chiefly
connected with the American trade.
The discredit and distrust which have resulted
from these events, and the withdrawal of
large amount of the paper circulation authorise
by the existing Bank Acts, appear to her Ma-
jesty's Government to render it necessary foi
them to inform the Bank of England, that it the 3
should be unable in the present emergency t.
meet the demands for discounts and advances upc»
approved securities, without exceeding the limits
of their circulation prescribed by the Act of 1844,
the Government will be prepared to propose to
Parliament, upon its meeting, a Bill of Indemnity
for any excess so issued.

In order to prevent this temporary relaxation
of the law being extended beyond the actual neces-
sities of the occasion, her Majesty's Government
are of opinion that the Bank terms of discount
should not be reduced belles their present rate.

Her Majesty's Government reserve, for future
consideration, the appropriation of any profit which
may arise upon issues in excess of the statutory
amount.

Her Majesty's Government are fully impressed
with the importance of maintaining the letter of
the law, even in a time of considerable mercantile
difficulty, but they believe that, for the removal
of apprehensions which have checked the course of
monetary transactions, such a measure as is now
contemplated has become necessary, and they rely
upon the discretion and prudence of the directors
for confining its operation within the strict limits
of the exigencies of the case.

We have, (ii,-0.,
(Signed)

PALMERSTON.
G. C. LEWIS.

The Governor and Deputy-Governor
of the Bank of England.

T THE GLASGOW MONEY PANIC".

GLASGO W. WEDNESDAY EVENING.
This mirnine: the panic was as great as ever, and
the suspension of the
vas speedily incl., ased by
City of Glasgow Bank. Numerous parties were
collected at the head offices and branches from art
early hour waiting for the opening of the doors.
The hour for opening passed, and there were no
opened. At this time the
sictns of the doors being
icitement was very great, and it was certainly not
dlayed when at 11 o'clock the following neti.':e was
posted on the doors :

"CITY OF GLASGOW DANK

" The directors dveply reg‘et that in conse-
itience of the excessive demand en the bank fur
dd, they are under the necetsity of suspending
p .yruent in the meantime. As this painful fleece.
itv arises only from the pre,sure of the times,
did not from losses sustained by the bank, the
tirectors hope that with the forbearance of depo-
sitors arrangements may soon be made to enable
the bank to resume business.
" By order of the Directors,
"ROBERT SALMOND, Manager."
Crowds were, of course, collected at the diffe•
rent offices, but no attempt at violence was made,
although a large police force was necessary to keep
In order the low characters who mixed themselves
largely among disconsolate depositors.
At the Union Batik the run was also very heavy,
but the directors made arrangements which
diem to meet it without the slightest difficulty.
300,000/. in gold arrived from London before bank-
lig hours in the morning, and was escorted to
the bank by a number of directors who waited at
die station to receive it. They have also, we are
informed, the offer of as much for to-morrow's use.
The crowds who presented themselves at the tellers'
tables were largely composed of individulls with
two or three one pound notes each, who had got
the idea that paper money of any bank was
unsafe. The depositors demanding gold were
mostly entitled to small sums, and these merchants

and men of business who were reluctantly obliged to
draw were generally quite willing to take the bank's
paper. About a quarter from 3 o'clock (the closing
hour), the Bank was nearly empty, and the doors
were kept open for an hour or two later, affording
most satisfactory proof that all demands had been
fully met. The Union Bank has passed triumph-
antly through a very severe ordeal, and we have

reakn to believe that the panic generally will now
subside. The Western and City Banks' notes are
now current as freely as before their stoppage, being
accepted by all the banks as deposits, and by the
[ shopkeepers generally, as readi'y as gold.
The magistrates have made ample preparations
to repress any attempts at violence which the
"roughs" of the city may seek to create out of the
excitement. A detachment of the Ist Battalion of
the Rifles have already arrived from Edinburgh to
reinforce the garrison, while a considerable body of
Lancers stationed at Hamilton are kept ready to
march upon the city. There apr ears, however, to
be no probability of their services being needed,
although the movement, as a precautionary mea-
sure, is a wise one.
The following address has been issued to the
working classes by Mr. R. Willcox, corresponding
secretary of the Masons' Association of Scotland;
Hr. James Jardine, secretary of the masons' ; and
Mr. W. Duncan, treasurer of the masons' :
"Fellow-workers,--As parties who have long been
connected with the working classes of Glasgow, we beg
to bring the present state of money matters under your
most serious considerat!on, and to call upon you to sup-
port the authorities in their endeavours to restore confi-
dence in the various banks of the city. Especially do we
wish to impress upon you the undoubted safety of the
National Security Savings Banks, the sums deposited in
vhich are lodged with commissioners in London upon
the security of Government. Have confideoce, corking
men, and I:how that, as far as you are concerned, you
:eel convinced that there is enough of gold in Scotland
to carry us through our present difficulties. We believe
•incer,ly that were a public meeting of the working
classes called you would come forward in sufficient num-
bers to fill our largest hail, and declare to our English
friends that we have no need of assistance from them.
With a due exercise of caution, we will soon be able to

prove that we do not need the Bank Charter Act sus-
pended. Ws also appeal to domestic servants. You may
have 31., 41., 51., or more lodged in the savings bank.
Let it remain there, and do not, by calling it up, create
a false idea of the stability of our Scotch banks. It is
safe and secure, and there let it remain. A foolish panic
will only tend to land all working seen and working
women in ultimate distress. The end will just be a
stoppage of public works, and our being discharged from
employment, and we will only have ourselves to blame.
Let us, therefore, at once aid our employers and the
authorities in preventing such a consummation. We
have seen one of our employers to-day—long conneoted
with the trade we are employed in—and understand that
he was at a meeting to-day, where he expressed the idea
that the merchants of Gl:tsgow had no need to go to
Eneland at all, as we tradesmen would support the
authorities in this crisis. Be sure, then, to prove as
good as he said."
It was mentioned with great indignation on
'Change (says the Glasgow Daily Mail of yester-
day) that one gentleman, a partner of a bank
director, had busied himself in urging parties to
withdraw their accounts from one of the baulai.
Such conduct is almost incredible on the part of
any person in the position of a merchant, and we
should hope that there will be no other instance of
it. The Scotch banks, as a necesssary precaution,
have ordered large drafts of gold from London ;
and a meeting, we understand, takes place to-night
in Edinburgh, for the purpose of concerting mea-
sures of mutual assistance in the event of any re-
newal of the run.

We (Glasgow Daily Bulletin) regret to learn
that, from the piestint distressed state of the

money-market, several of our leading public works
will have to be closed shortly. Yesterday one of
the most extensive cotton spinning firms in the city
shut up their works till fur,her notice. This is the
inure to be lamented, as a large number of work-

men, male and female, will in consequence be
thrown out of employment.

LLOYD'S SHIPPING.—(This Day.)

LONDON, Nov. 13.—Wind this day at noon, N. ;
light breeze and cloudy.
ltemsGArn, Nov. 12.—Wind E.N.E.—Sailed—Hea-
watba, for Havana.
PORTSMOUTH, Nov. 12.—Wind
Her Majesty's Cuckoo, from the Eastward.
SOUTHAMPTON, Nov. 11.—Sailed—Norsenian, for Gib-
raltar.

OFF PLYMOUTH, Nov. 11.—Arrived—Rhine, from St.
John's, Newfoundland.
NEWPORT, Nov, 11.—Wind - E.—Arrived—Cornelia
Mathdda, from Schiedam for Singapore.
CARDIFF, Nov. 12.—Wind E.—Sailed—Herman Rising,
for Cuba.

(Pea ELECTRIC TELEGRAPH.)
SOUTHAMPTON, Friday, 10 a.m.

WiLd N., fine
Arrived—Lady Eglinton, steamer, from London ; Ata-
lanta, steamer, Jersey.

Sailed—Abeong, steamer, for Cork; Tamar, steamer,
Alexandria; Lady Eglington, steamer, Dublin; Llan-
goll,n, Newport; Noi wau, steamer, Caps of Good Hope;
Argyll, steamer, Carentau.

LIVERPOOL, Friday Morning.

Wind W.S.W.

Arrived—Stamboul, from Callao; Imogene, Pornambuco ;
Fortuna, Maranham ; Tempest, New Orleana ; Compro-
mise, Now York; imera Leghorn; Magrico, Lisbon ;
Hansa, Bremen; Dodo (s.s.), Rotterdam; Chieftain,
Amoy.

QUEENSTOWN, Nov. 11.

Wind E.S.E.

Arrived—Elise, from Buenos Ayres ; Dobra, Costrenka,
and Lily, Odessa ; Fetesco, Alexandria ; Isabella, Riga ;
New Rambler, Stettin.

WATERFORD, NOV. 10.

Wind S.E.
Arrived—Telemaque, from Marseilles ; Caterina, Ham.
burg.

DUBLIN, Nov. 12.

Wind N.E.

Arrived—Providentia, from Swendborg ; Catherina,
Konigsberg; Mary Hill, Hamburg; Louisa, Stettin;
Robert Henry, Havre.

(BY SUB3IARINR AND BRITISH TELEGRAPH.)
GRAVESEND, Friday, 9.30 A.M.
Wind W.N.W.; tide sixth hours' flood, very thick.
Arrived, Nov. 12—Eliza, from Wykobing ; Frithof
Jacobstadt ; Chieftain, St. Petersburg ; Hannah, Guern-
sey ; Zoophyte, Cronstadt ; Charity, Cronstadt ; Dekar,
Antwerp.

DEAL, Friday 9 a.m.
Wind N.N.W., moderate, and thick.
Anchored—South Sea, from Bombay for London.
Passed—Frances Barclay, from London for Liverpool ;
Indomitable, screw steamer, for Madras.

THE LEVIATHAN.—The report which has been circu-
lated during the last few days, to the effect that the
Leviathan had by her great weight forced down the
launching-way to the extent of several inches, is entirely
without foundation. Since the attempted launch most
accurate levels of various parts of the deck and
keel are taken two or three times in the course of the
day, and as far as regards the launching-way not
the slightest depression has yet been detected. For
the present not more than from 200 to 300 nsen are
employed in the yard, and they are only engaged in
strengthening the drum apparatus. A great number of
additional rails are being placed
on
trt
driving a few additional piles round hheer,
launching-way,
nc itnhge-r wwai otherwise
which will have the effect of di
more equally over the piles,
and
thetransverse logs on
which
t to prevent the concrete bed from
being forced up. aibuting the weightges
o
It is believed that the bargee contain-
ing wood t
powerful
arer a baesi
crabs, which were moored in root of the
,nip at attepted launch, will be, Upon tie next
the nrnrges driven, between at the same time wedges
occasion, dispensed with altogether, and in their places
ordinary sheave -blocks will be fastened to the moorings,
the chains attached to which will be hauled upon from
the shore by means of small donkey engines. Several
additional hydraulic rams of much greater lifting power
than those hitherto used will also be employed in case of
any stoppago occurring