The Sun.
London, England, 1844-09-18 00:00:00

BANK OF ENGLAND RETURNS:

It has been pointed out to us that in the remarks
on the Bank of England returns inserted last Mon-
day, no account was taken of the item of " seven clays
and other bills," amounting to 1,030,354/. The de-
scription of notes comprised under this designation is
chiefly composed of those generally termed " Bank
post-bills," the principal difference between which and
ordinary notes is, that the former are payable to the
" order" of a certain party, and the latter payable to
" bearer." This species of note was formerly in-
cluded among the general ma, of " circulation" in the
old returns, but is now classed under a separate head.
To find the actual circulation at the present time,
in order to compare it with previous periods, we
must take from the new return the amourt of notes
issued .... £28,351,295
Deduct notes with the banking
branch .......... 8,175,025

£20,176,270
1,030,354

Add seven days' and other bills

Total "
The last published return for the month ending
August 17, was 21,980,0001., showing a decrease in
the circulation of about 780,0001.
The increase in the amount of the securities ap-
pears to be satisfactorily accounted for by the fol-
lowing explanation :—At the period of the last re-
newal of the Bank Charter, the debt due from the
Government was about 14,500,0001., and one-fourth
part of this was paid off by a transfer of an equiva-
lent amount of stock. This stock was not divided
among the shareholders, but was left as so much as-
sets on which interest was annually received ; and as
it formed no portion of the basis of the currency,
but merely part of the capital of the Bank, in the
same manner as the remaining part of the debt of
11,000,0001., it was never included in the published
averages. But in the present returns, one part of
which is intended to show the position of the Bank
in relation to the shareholders, the whole of the
property and assets of the Bank, so far as capable of
having a numerical value attached to it, must neces-
sarily be inserted ; and thus the securities are sud-
denly increased, as compared with a 1 former returns.
The only part of the new returns which is defective
is the item in the Ranking Department called " other
securities," which, as we have noticed during the dis-
cussion on the Act, should have been divided into
two—namely, "bills discounted" and "other securi-
ties." The portion required separate from the rest is
the " bills discounted;' and the following table, taken
from the report of the last Bank Committee, will show
the importance of the subject :

Other Securities
First week in Discounts. and Loans.
March, 1839 £2,937,000
1833 1,241,000 ....... 2,839.000
1834 1,751,000
1833 2.470,000
1836 2,901,000
1837 11,217,000

1838 3,292,000
1839 3,296,000
1840 4,321,000
The second column in this table does not include
the investments which in the new returns are
classed under the head of " Government'securities,"
but are merely private and temporary securities,
embracing East India and City bonds, mortgages,
and advances on Exchequer-bills, stock, &c. And
the sudden and great fluctuations which have
taken place, both in the discounts and the loans or
advances, will clearly show that the publication of
the aggregate amount in one line will afford but
little information. The present apparent disposition
of the Bank of England to extend its discount opera-
tions by the lowering the rate of interest, renders the
subject of much greater importance than in former
periods. However much this omission is to be re-
gretted in a measure which in other respects appears
to be highly satis4'actory it appears for the present to
be without remedy; and the increase in the amount
of bills discounted, if any, must be estimated from
other sources.— Times.

EXTENSIVE FIRE.— SUPPOSED INCENDIARISM.—
Between the hours of twelve and one o'clock this morn-
ing, the neighbourhood of West Smithfield was thrown
into the utmost state of excitement, in consequence of
the sudden outbreak of a most destructive fire upon the
premises belonging to Messrs. Daveness and Co., bird
importers, &c., carrying on an extensive business in
Turnmill-street, Clerkenwell. The first discovery ap-
pears to have been made by a person through seeing a
great column of smoke and sparks mounting over the
roofs of the dwelling-houses. An instant alarm was
spread, and the inmates were aroused from their slum-
bers. It was then perceived that the fire was raging in
the centre of a building filled with hay and straw,
over which were erected a range of promises con-
taining upwards of 150 dozens of live pigeons. An
attempt was made to save them, but the fire being
so powerful, the parties were forced to make a
precipitate retreat. Fortunately, the horses, were all
got out in safety. About eight engines of the Brigade,
under the superintendence of Mr. Braidwood, with one
or two more from the pairish stations, were remarkably
quick in arriving, and were followed by the West of
England engine and firemen, with Mr. Connorton.
Water was obtained in abundance, from which several
engines were set to work, but the firemen, although
they exerted themselves to the utmost, were unable to
confine the fire to the premises where it began, and very
speedily a longe range of building, nearly 70 feet deep,
became ignited. The engines were worked with full
vigour until two o'clock, when it became evident that
the flames were succumbing beneath the exertions of the
firemen, and in the course of another quarter of an
hour or so they were completely subdued. The damage
done is considerable, for besides the destruction of the 150
dozen pigeons, a great number of fowls perished in the
fire, and the whole of the buildings above named are
gutted. The origin of the fire is not precisely ascer-
tained, but it is the opinion of one of the firemen that it
was the work of some vile incendiary. The present is
the third fire upon the same premises within nine months.
The loss will be covered by an insurance is the Hand-
in-liand-office.
AstuslNG INCIDENT.—A gentleman, one of a party
recently on a tour through the Highlands, writes us:—
" llaving passed a delightful morning on that swiftest of
steamers the Dolphin, commanded by Captain Mackillop,
we proceeded to touch at Ballachulish, with the intention
of making an excursion to Glenco. We endeavoured to
land at the slate quarry, but as often as our rope was
thrown over to secure the vessel, it was flung back to the
steamer. A body of natives soon collected from the
quarry, and seemed determined to prevent our landissg,
regarding with a jealous eye what they considered an in-
trusion by the Sassenach. Most fortunately we were
provided with two six-pounders, one of which we in-
stantly pointed in the direction of the enemy, and, under
its protection, a sailor landed and secured our rope. The
natives scampered off in all directions over the slates, the
rolling of which, added to their shouts, caused no little
addition to the ludicrous nature of the scene. Our piece
of artillery was well directed, and the very sight of it
sent a number of slaters rolling down the banks of their
own quarry. Th
thato they
takee any
yp instantlyrs stood
tdi
nattht he ef tteotdap,
ak.onf± the
couldd
sqs quarry
attack.—Russ-.hire
.3et,
ready to come to the aid of their comrades below, were
Abs panic-strickenocdvienrltu.Advertiser.
to
.(

PROJECTED BRANCH RAILWAY FROM THE GRAND
JUNCTION LINE AT MADELEY TO THE POTTERIES.—We
understand that circulars have been sent to a number of
influential persons in the Potteries, inviting them to at-
tend a meeting, before which proposals for the formation
of this railway by the Grand Junction Company will be
laid. Meanwhile, the parties who contemplate the line
from the Potteries to Crewe are proceeding with their
surveys, and it is expected that the plan will shortly be
laid before the public by an independent company,—
/Vol th Staffordshire Mercury.
[ADVERTISEMENT.]
THE TURN OF LIFE !—CURE EXTRAORDINARY BY
HOLLOWAY'S PILLS.—A respectable woman, aged 47,
named Grahain, residing in Scotland-road, Liverpool,
was in the most critical and dangerous state for nine
months, being sometimes almost choked with phlegm,
with shortness of breath, palpitation of the heart, toge-
ther with a general derangement and debility of the
whole system. Her life was in the greatest danger
when she commenced the use of these miraculous pills,
which restored her to the highest state of health in five
weeks. They are the finest medicine in the world for
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Professor Holloway's
be
(t he re;idvice may be
and
by almost
Strand
al4mos.t.all
respectable medicine vendors throughout the civilised
world.
A HINT TO OUR CABMEN.—According to a report
of the Prefect of Police of Paris, the hackney-coach
drivers of that capital &posited in the hands of the au-
thorities 18,0971. in money, and articles to the value of
92,710 f., in all 40,816 f., left by mistake in their vehicle:
during the year 1843.