The Sun.
London, England, 1857-10-28 00:00:00

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[PRIoE 40. STAMPED 5I) .]

AMERICA.

LIVERPOOL, WEDNESDAY MORNING.
The Liverpool, New York, and Philadelphia
Screw Steamship Company's steamer City of Wash-
ington has arrived, with advices from New York to
the 15th inst.
On the I.6tb instant the City of Washington sig-
nalled the ship Jacob A. Westerbelt, bound west ;
and the Royal mail steamship Asia, hence for New
York ; and on the 24th, at 7.20 a.m., signalled the
ship Wandsworth, bound east.
A despatch from Washington says :
"It is not true, as stated, that the Government of
Nicaragua have recognised and agreed to the details of
the treaty with that republic adopted at a Cabinet meet-
ing. The question is still under consideration. Yrissari,
the Minister of Nicaragua, has left for New York. The
statement that Lord Napier had given orders to the
British squadron in the Gulf to arrest the Filibusters is
wholly untrue."
There had been some rioting at Baltimore.
The interesting portions of the news entirely re-
late to the bank panic at New York and elsewhere.
The new order of business through the banks of
the city of New York, rendered necessary and con-
venient by the stoppage of specie payments on the
14th, was inaugurated on that evening by the fol-
lowing proceedings :—The banks recognised the
notes of all the solvent banks of the city and
state of New York, on part of the basis of what
ate known in ordinary dealings as current
funds. These and the certified cheques of
of the bank dealers to be payable in current funds,
as well as gold and treasury drafts, as the portion
of the bank holding either or all will be employed
in the adjustment of the daily balances growing
out of the interchanges through the clearing house.
The Bank of America will continue to hold the
key to the common vault in which the specie of the
associated banks is held and represented by certifi-
cate ; and the Metropolitan Bank, it is understood
will be made the common depository of the country
bank notes belonging to the association, and these
also will be represented by certificates.
The new arrangement will extend to all country
bank paper secured at Albany, and to such regis-
tered notes of the old safety fund banks as the com-
mittee of management on this subject, aided by the
experience of the metropolitan system, shall desig
nate.

At a meeting of the bank officers, held at the
clearing house on the evening of the 14th, the fol-
lowing resolutions were adopted without dissent :
"Resolved—That we will take at par notes of banks
on the State of New York, secured on the bank depart-
ment at Albany, and all such safety fund banks as may
be designated from time to time on deposits from our
customers only, and in payments of notes due on our
banks respectively. That we will receive or pay ba-
lances at the Clearing-house in such notes ; the same
being counted, enveloped, tied, and sealed, with the
amount certified on the parcel whenever the sum shall
exceed $l,OOO, provided the same be certified by an
officer appointed by the Clearing-house Association."

A committee of three was appointed to arrange
the details of the plan, which was to go into opera-
tion immediately.
The judges of the New York Supreme Court had
adoptrd and promulgated a code of opinions in re-
gard to the enforcement of the penalties of the law
against suspended banks. They agree that it is for
them to wind up the banks or not, in the exercise of
a sound discretion that they are not to be enjoined
unless they are insolvent, or unless an injunction
may be necessary to prevent fraud and injustice.
That a prevention of specie payments is not proof
of insolvency, and that no injunction should issue
without giving both parties a hearing.
The New York Courier and Enquirerof the 15th
says:--

"The community seem to acquiesce in the conclusion
arrived at by the banks last evening, to suspend specie
payments for the present. Business among these insti-
tutions was generally going on this morning as usual,
except that specie was refused in large sums, The North
River Bank has not yet resumed business, but proposes
to do so to-morrow. The Ocea❑ Bank is in the bands of
a receiver, but wilt probably resume operations during
the week. The other banks in Greenwich-street, viz.,
the Merchants' Exchange, the New York Exchange,
and the Irving Bank, are receiving deposits and paying
cheques as before. A notice to the following effect was
was posted up in several banks :

" i The business of the banks will be transacted exactly
as heretofore, with the exception of paying specie.
Cheques will be received on deposit and on the payment
of noter, and bank-notes will be pail and received as
usual.'
"The Metropolitan Bank has the following placarded
on the railings :

METROPOLITAN BANS.
•" This bank will receive on deposit at par notes of
banks in the State of New York secured in the banking
department of this State, and also the bills of such safety
fund banks as may be designated, and will pay cheques
drawn against such deposits in similar currency.'
" The American Exchange Bank, the Bank of the
Commonwealth, and a few others have adopted a similar
course, and others are deliberating whether to come into
the measure. The effect of this will be to keep the
country bills at par in this city for ordinary business
transactions, instead of forcing them home for redemp,
tion, as heretofore. A. B. Hays, cashier, has been ap•
pointed receiver of the North River Bank. Mr. R.
Martin, president of the Ocean Bank, was appointed
receiver of that institution on application to Judge Pea-
body. The Chymical Bank, it is understood, is the
only one that continues specie payments ; but it is ob-
vious that this can be done for a short time only, and if
the bank restricts its business to merely gold and silver
its operations will be very light. The exchanges are in
a worse condition to-day than before. The brokers are
at a loss what to charge for checks on Boston, Philadel-
phia, New Orleans, and other cities. The only offer we
have beard of to-day was 6i discount. Gold is nomi-
nally 6 to 8 to 10 per cent. prem.-6 for large sums, and I
8 to 10 IT small amounts.

The Clearing-house will have another meeting this
evening to consult upon and to decide upon the mode of
settlement.

"To-day the balances between the banks were called
for in specie, but to persist in this mode of settlement
would only serve to maintain a course of contraction in
loans. The small banks under this rule would be afraid
to expand, or bring themselves in debt to the stronger
ones. No relief had been looked for by the community
under this process.
"A more equitable, a more beneficial one, would be
to extend their loans 3 to 5 per cent., and fix upon a
maximum for the aggregates ; otherwise, the merchants
will be as much at a loss as before for funds to meet
their engagements.
" We learn by telegraph that the banks at Boston,
Portland, Hartford, Albany, and ether important places
have followed the example of New York in the suspen-
sion of specie payments.
" The Chocrleston News confirms the report of the sue.
pension of the Bank at Augusta.

- "The sub-Treasury is so depleted by the redemption
of Government stocks, that the Seeretary of the Trea-
sury gives notice he will redeem no more at present.
The price in the market will therefore probably decline
112 to 115. The Custom-house duties at all dig seaports
had declined so materially that the general Government
will probably not have funds enough for the fiscal ope-
rations of the year. The reduction of duties for the
current year will probably be 20,000,000 dole. The
operations of the Clearing-house to-day were 18,000,537
dollars against an average daily balance in the spring of
25.000,000 doll. Il will be perceived that an impetus
has been given to the stock-market by the changes in
the currency. New York Central advanced to-day 6
per cent. ; Erie, 21 ; Reining, V, ; Michigan Central.
6 ; Cleveland and Toledo, 3 ; Galena and Chicago, 9 ;
New York State Five per Cent, brought 88 to 90 ; Mis-
souri Sixes improved 6 ; Illinois Central Bonds, 8 ;
Deleware and Hudson Canal, 5."
The New York Journal of Commerce says
" Foreign exchange has materially advanced, sales of
bills on London were made as high as 108, but this is an
extreme rate, while there is a large amount of second-
c ass bills offering."
The New York Tiines says :
"The foreign exchanges had scarcely time to act
under the new order of things before the Arabia sailed
for Liverpool. The rates advanced at 5 per cent. Lag
evening the Associated Banks adopted the New York
State currency—country and city—as current funds in
all geneial banking transactions—an arrangement which
will greatly niitivate the inconvenience of the suspension.
All the city banks which broke down early iv the day
yesterday, including the Ocean, were restored to regular
business.
" A telegraphic report from Boston, that Little,
Alden, and Co., who have a branch house of very ex-
tensive business here, had stopped payment, wants Con-
firmation.
"The merchants of New York, in public meeting =,•0104..................
assembled, had resolved that it was their duty to aid the r NEW CHUROH AT BLACKHEATH,—Yeeterday afternoon
banks by every means, and expressed every co
nfidence the foundation•stone of a new church dedicated to All
in their stability.
Saints, was laid by the Earl of Dartmouth, in the pre.
" The decision of the Governor of the State respecting
o sheanbci et
aonft
saolfatrhgee Concourser
hoof
othe
of rße si
ai deeknhteac
tl ebr,g
tyh e and_li oinn•
be given on the day the steamer sailed.
" Skinner and Co., Boston, had called upon ' and Rev. Henry Legge, vicar
their ore- parish the church is situate,ccasioren
ditors to have their paper renewed for •r CIIORLEY.--The
its maturity, receiving interest for th 81X months from THE RAILWAY COLLISION Nui;Aday
e extension in ad- colliaion which took place on morning last on
of Lewisham, in which
vanes. The assets of the fir it •
"The firm of Jahowo and Co at the S db 1
was the property of
m, is said, exceeded their the Lancashire and Yorkshire Railway an oe,
tthhaetbathonfke
liability 1,000,000 dole.
proved far more disastrous th
officiatingTh on the o
• an wan
bankers had
Bs
piornsetstoehnne t .near Chorley, has proved
age done to the frei ht d
had done the same. at first expected. 1 .
Thebeq, uwsel committeeen resolved unani- other property ig est —,OOOl. and
'mated at between 0 g an
they
iff ent tradesmen, and hold the company re.
Clearinghouse
usdeailsyhasleitbtleemceonnt. I,ooero/. Of course the former
The breakeman of the ballast train has new
tinued under such modifications as the Clearing-house sponsible.
Committee shall deem advisable. That there shall be a nearly recovered the shock ho received. Considerable
return to spe •payment at period
" inconvenience specie

We may be asked whether the dislike of us
avowed is not deserved, and doubtless Englishmen
have their faults of pride and arrogance to correct,
but France is not the nation most competent to
school us, for this reason, that there is no people
with less understanding of others. What they
charge against us, the habit of trying all by our
own insular standard, is pre-eminently their
own fault, for they do not think it worth
the trouble to comprehend the peculiar cha-
racter of any foreign nation. France is the
cockney nation of Europe. The French in their
own conceit have nothing to learn out of France.
They are therefore the worst linguists in Europe,
and nover touch on the history, usages, and pueu,
liarities of other people without betraying the most
extraordinary ignorance and misconception, of
course there are eminent exceptions amongst their
informed and learned classes, but we allude to the
g
eneral public, which continues to chetich a cow,. Portable dislike of its Ile crest neighbours and
friends, because it will not be at the trouble of re! prleptoisstebroeucasulysefalvisee iuduedaerosftithnl
character. e itsr.
better than they understand us that
ta
hbeu nationalsFinrge French
we like them so much better than they like us. If
they knew us better we should be more on a footing
in mutual esteem.

MAJESTY'S TAEATRE.
JIILLIEN'S CONCERTS.

MDLLE. JETTY TREFFZ.

M. Jullien has the honour to announce that his ANNUAL
SERIES of CONCERTS will commence on FRIDAY, the
30th of October, when, besides " Batti, Batti" of Mozart,
Mdile. Jetty Treffz will sing, for the first time in England, a
new Lied, entitled " The Recruit." The following novelties,
composed by M. Jullien, will form part of the programme,
being their first time of performance :—" Valses Sentimen
telles :" Ist set, Constance ; 2d set, Les Soupirs —" Polka
Mazourka "—and a new operatic Selection from Mozart's
" Don Juan," arranged expressly for tho concerts.
Prospectuses, with full particulars, may be had at the Box-
office of the Theatre ; of all the principal libraries ; and at
Jullien and Co.'s, 214, Regent-street.
I races of Admission—Promenade, is ; Upper Boxes, Is. ;
Gallery, Is. ; Dress Circle, 2s. 6d.; Private Boxes, 10s.
fd. and upwards.
Private Boxes may be secured at all the principal libraries
and musicsellers' ; and at Jullien and Co.'s, 214, Regent-
treat.

PERA BUFFA. —8 t. JAMES'S THEATRE.
(Entirely Re-decorated).—Signor RONZANI
has the honour to announce that the Seison will commence
on T ussuAY, the 3d of November next, 1857. Full particulars
will be duly announced. Prospectuses may be had, and
Subscriptions arranged at Mr. Mitchell's Royal Library, 33,
Old Bond street.

ROYAL PRINCESS'S THEATRE.
Proprietor, Mr. Charles Kean.
THIS EVENING, will be performed glakspere's Play of

THE TEMPEST.
Preceded by LIVING TOO FAST.

THEATRE ROYAL, AD EL PHI.
1. Lessee—Mr. Ben. Webster.
" THIS EVENING, will be performed an original Apropos
Sketch, entit.ed THE DRAPERY QUESTION; or, Who's
for India 3 Messrs. Wright, P. Bedford, C. Selby; Miss M.
Wilton and Miss :Mary Keeley.
After which, Douglas Jerrold's drama of BLACK-EYED
SUSAN. William, Mr. T. P. Cooke ; Blue Peter. Mr. Paul
Bedford ; Gnatbrain, Mr. Wright ; Black-eyed Susan, Miss
Arden.

To conclude with URGENT PRIVATE AFFAIRS.

THEATRE ROYAL, HAYMARKET.
Tiesse---Mr. J. B. Buckstone.
THIS EVET+INIF to commence at Seven o'clock, with
Sheridan Knowles' comedy of THE LOVE CHASE. Con-
stance, Miss A. Sedgwick.
After which, BOX AND COX. Box, Mr. Buckstone ;
Cox, Mr. Compton.
Followed by MAKE YOUR WILLS.
To conclude with THE GALICIAN FETE.
Orchestra Stalls (which may be retained the whole of the
evening), 6s. each. (No charge for booking.)
First Price. s. d. Second price. s. d
Dress Boxes 5 0 Dress Boxes 3 0
1 Tpper Boxes 3 0 Upper Boxes 2 0
P t 2 0 Pit 1 0
I.)wer Gallery 1 0 Lower Gallery 0 6
jpper Gallery 0 61No half-price to Upper Gallery.

Xl9 OPAL SURREY THEATRE.
IC Lessees, Messrs. Shepherd and Creswiek.

THIS EVENING, will be performed AMBITION : or,
the Throne and the Tomb. Messrs. Creswick, W. Smith,
Vollaire, B. Potter, Jackson, Belmore ; Miss Webster, Miss
M. Eburne, Miss Johnstone.
After which, a new Petite Comedy, UP IN THE WORLD.
To conclude with AVARICE.

ROYAL LYCEUM THEATRE.—Lessee, Mr.
Dillon. —Under the joint management of
Miss LOUISA PYNE and Mr. W. HARRISON.—Open for
an OPERA SEASON of THREE MONTHS, with the fol.
lowing Distinguished Artistes :—Madame Caraderi, Miss Co.
corn, Miss Susan Pyno, Miss Marian Prescott, Miss Cuthbert,
i. rs. H. Manley, and Miss Louisa Pyne ; Mr. Augustus'
Braham, Mr. A St. Albyn, Mr. Edmunds, Mr. Hamilton
Braham, Mr. Ferdinand Glover, Mr. Bernard, Mr. Kerby,
Wallworth, Mr. G. Honey, Mr. Weiss, and Mr. W. Harrison.
Conductor, Mi.. Alfred Mellon. The Orchestra selected
from the Royal Italian Opera, Jullien's Band, and the Orches-
tral Union. The Chorus selected entirely from the Royal
Italian Opera. Stage Manager. Mr. E. Stirling. Assistant
Acting Manager, Mr. William Brough. Ballet Master, Mr.
Frampton. Chorus Master, Mr. G. Smythson.
THIS EVENING, will be pe formed Verdi's opera of
TROVATORE.
After which, GOOD FOR NOTHING.

Private Boxes, £2 12s. 6d., £2 25., and £1 lls. 6d. ;
Stalls, 6s. ; Dress Circle, ss. ; Upper Boxes, 4s. ; Pit, 25.;
Gallery, ls.—The Box Office is now open daily, from 11 to
5, under the direction of Mr. Chatterton, jun.

ROYAL OLYMPIC THEATRE.
Lessees, Messrs. Rob3on and Emden.
THIS EVENING, will be performed (9th time) a new
comedy, called LEADING STRINGS. Messrs. Addison, G.
Vining, H. Cooper; Mrs. Stirling, Misses Wyndham and
Swanborongh.
Followed by (for the 3d time) a new comedietta, entitled
DEADLY REPORTS,
After which, the comedietta, entitled A SUBTERFUGE.
Mrs. Stirling, Mr. G. Vining, and Mr. G. Murray.
Commence at half-past Seven.

CIANTERBITRY HALL, Westminster-road.—
irk..} OPEN EVERY EVENING.—The follow-
lug company of Vocalists are engaged for the performance of
Selections from all . the popular OPERAS, MADRIGALS,
CHORUSES, GLEES DUETS, &c.,via.:—Miss Russell,
Mrs. Badzey, Madlle. Manetta, Mrs. Palmyra, Miss E. Scott
Miss Brinell, Mrs. Le Jeune, and Madame Marietta;
Herr F. Jonghmans, Mr. Henshaw, R. Grover, T. Farrant,
S. Tones, J. Barker, W. Melling, Senor Antonio, E. L.
Hime, and Mr. St. Albyn ; Messrs. S. Collins and E. Mack-
nev. Pianoforte, Mr. Cecil Hicks; harmonium, Master
Williams; Director, Herr F. Jonghmans. Commence at
Seven o'clock precisely. Suppers, die., until twelve o'clock.
—Signor PICCO will perform, at half-past Eight and half-
past Ten, every Evening.