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

SPAIN.

The Madrid Gazette of the Bth contains a royal
decree, by which the Queen authorises "her be-
loved and august husband the King" to confer on
the child to whom her Majesty is about to give birth
" tho insignia of the Golden Fleece, and of the
Grand Crosses of the Orders of Charles 111., Isa-
bella the Catholic, aid San Juan of Jerusalem if a
Prince—and those of the Order of Noble Ladies of
Maria Louisa if a Princess." The other papers
contain no news importance. The value of exports
from Spain in the month of September last was
98,723,423 reals, which was upwards of 8,000,000
reals more than in the corresponding month of last
year. In the total, 29,000,000 reals are set down
for wine, 16,000,000 for raisins, and 11,000,000
for lead.

The Etoile Belge of Brussels, referring to the
opinion that the Belgian Chamber will be dissolved,
observes that, according to the constitution, the
electors must be convoked within forty days, and
the chambers in two months. The elections, there-
fore, will take place between the sth and 15th of
December. The chambers will L 3 assembled soon
after to vote the budget, which, according to the
law, must be voted before the let of January. 141.
Rogier, the above journal adds, will not take up
his residence at the Hotel of the Interior until after
the elections for the chamber.

Intelligence has been received at St. Petersburg
from the coast of eircasiia, to the effect that a
Russian boat, laden with troops, returning from a
successful attack on Turkish smugglers at Anapa,
had been blown up by an explosion of ammunition
on board, three officers and 36 men being killed,
and 32 men saved.

Letters from Vienna of the Bth state that a
Turkish colonel, Sslim Bey, had arrived there on
that day from Constantinople with despatches for
Prince Calimachi. The latter at once communi-
cated the contents of them to Count Buol.

Major-General Bentinck has arrived at Claridge's
Hotel, from the Continent.

A rumour was whispered about yesterday in the
vicinity of Downing-street that Lord Eigin was on his
way to England, disgusted with his useless mission to
China. We are not iu the secrets of the Foreign-office,
and therefore cannot undertake to confirm the report ;
but we have reason to believe that important dispatches
have been addressed to "the Earl of Elgin, Alexandria,"
and letters, that bore on the addreFs "China," were
ordered to be altered to Alexandria. —Herald.
RUGBY SCIIOOL.—At a meeting of trustees of Rugby
School yesterday, at Rugby, the Rev. Frederick
Temple,. late Falow of Baliol College, Oxford, and
Principal of Knellar Hall, was elected Head Master of
Rugby School. Mr. Temple gained first classes in clas-
sics and mathematics in 1842, and is the third
Bailie! scholar in succesrion that has been appointed to
this important sta ion, his two predecessors being the
present Bishop of Lund in and Dr. Goulburn, afterwards
Fellow and Tutor of Merton College. Mr. Temple re-
ceived high testimonials from the Bishop of LotolJn,
the Deans of Hereford and Went), the Masters of Balliol
and Pembroke Colleges ; the, Rev. 0. Gordon, Tutor
and Censor of Christ Church ; the Rev. Dr. Vaughan,
Head Master of Harrow ; the Rev. J. P. Norris,
formerly Fellow of Trinity College, Cambridge ; the
Rev. Canou Stanley, Regius Professor of Ecclesiastical
History ; and several of the most distinguished Rug-
beiane at Oxford.

" THE REV. J. M. BELLEW ON INDIA.—Last evening,
this eloquent lecturer repeated his lecture on India at
Exater Hal!. The hall was crowded by a fashionable
audience, who listened attentively to an elaborate disser-
tat►on on this important subject.

AMERICAN MAILS.—The Cunard steamer Africa will
sail to-morrow (Saturday) from Liverpool for New York
with the wails and passengers. The Lirerpool Post-
oflica will be open until 6 30 a.m., with late fees until
7.30. a.m., and on the lauding stage (with extra postage)
until 8 a.m.

CHURCH ENDOWMENT SCHEME, SCOTLAND. Hie
Royal itighness the Prince o..insert has given a dona-
tion of 2001, to tie northern group of chapels.—alastiow
Daily Mail.

THE MONETARY CRISIS.

WHO IS TO BLAME THIS TIME ?"
TO THE EDITOR OF THE SUN.

Sut,—Since my letter to you of the Bth inst., the
subject of which has frequently been commended
to me by parties little cognisant of the fact of my
being the writer, I have had hourly experience of
the necessity of some step being taken to insure
the ability of Bankers to discount paper represented
by undoubted names, and
.full security in addition.
The Times and Globe would endeavour to persuade
their readers that no difficulty is experienced in the
negotiation of such paper 2 • but the Public are the
best judges upon such points, and the events of the
first two days should be evidence enough that the
PANIC is spreading, and that if it increases in M-
tensity during the next few days, Lombard-street,
and Banks, bothprivate and joint-stock, throughout
the United Kingdom of Great Britain and Ireland,
will be found shaking in their shoes, with securities,
previously considered undoubted, worth, in many
instances, little more than the original value of the
Stamps, impressed upon them. This climax at-
tained, ministers will probably send for the " He-
brew Millionaire" and Lord Overstone, and a few
of the Cormorauts of the Industry of the Millions,
and ask them whether the suffering patients are
not so far reduced (in number alive, or in a dying
or dangerous condition) as to render it advisable
forthwith to call in a physician, in fear that the
plague may become universal, and past the aid of
Medicine. Further, in the course of a very brief
period, the "hard-fisted million" may, finding
that their employers calmly and sensibly inform
them of the reason why they are obliged to throw
them and their families upon the parish for daily
bread, meet, discuss, and act, in a manner which
may make even the Prime Minister's salary unsafe
from one quarter's day to another.
I am intending to argue calmly and dispassion-
ately. The subject of my argument is not an irri-
tation of a day, a week, or a month. lam known
to have held opinion that, under the Bank Act of
1844, this crisis was due, and I have said why and
how it would arise, and the banks and eminent firms
who have unfortunately succumbed, are known
to have been held in suspicion by me. For since
the American crisis assumed a severe form, and the
requirements of the East India Company, (no
secret to me and my friends), were evidenced by
their first borrowing one million of money. But
when one joint-stock bank lent them nearly the
same sum, " for two years fixed," I saw that our
gold was fated to lea veus, and the Bank of England's
position, and the consequent discredit, hoarding,
and panic, was no longer a suspicion, but a fact in
prospectu, and that very near at hand.
I care not how relief is afforded. The " Cur-
rency Question" I have battled and studied
in vain. No man yet born could solve it satisfac-
torily to his neighbour ; but this I do say, that if
such relief is not afforded to the commercial classes
quickly, we shall sea such distress throughout our
lately happy and contented population, as will
cause many a pane. and feeling of regret in the
bosoms of the very highest in the land. I shall not
enter into the particulars of what I have to-day
heard from various parts of the country ; if I did
so your columns would be too much entrenched
upon.
But " Who is to blame this time ?" The plot
thickens, and the healthy and robust, at the funeral
of a friend, who died last week of a sudden and un-
expected " disease of the chest," may exclaim with
propriety to-day, "This may be my fate next weeks
God alone is my refuge and strength."—l am, sir,
' your most obedient servant,

" CIVlg BRITANNICUS."

TO THE EDITOR OF THE SUN.

am not about to decide whether the opi-
nions you have so long advanced, on the currency
question, with so much consistency are correct or
not ; nor do I consider that those who may have
sagacity to detect faults in a system are, on all
occasions, bound to point out a remedy.
When opponents are evidently inconsistent, the
probability that their arguments are unsound, is
very materially strengthened.
It is not many days since we read (in the paper
which so much influences the public mind) that the
advance of interest to 10 per cent. was quite im-
material ; no sound firm could be affected by it ;
it was only paying the extra rate for a short time ;
they could have their good bills discounted as usual ;
and in fact, any houses who could not stand this
test, must be such, that the sooner they were got
rid of the better.

In this short time (less than a week) failures have
taken place, of parties described in the same paper
as of long standing, and highly respectable ; assur-
ances are almost given that there cAn be loss even-
tually ; so of course, they are not amongst the un-
sound houses it was so desirable to get rid of.
The amount for which the houses referred to
(beginning with Naylor and Co., of Sheffield, and
ending with Sanderson, have liabilities exceeding
fifteen millions sterling.
If you can assist in making these matters clear
to the public, it may be of essential service, as
throwing a light upon what is dark and mysterious
to 99 per cent, of the commercial world ; and, it is
probable, it may be the means of clearing the per-
ceptions of some of the monetary world.
I am, Sir, your humble servant,
A CONSTANT READER.
Pall-mall, Nov. 12, 1837.