The Sun.
London, England, 1850-09-04 00:00:00

Box-office open From Eleven till Four
State Manserer. Mr. W. West.

Admission. Is.

On Wednesday, September 11, the Boys of the Greenwich Naval
Asylum Szhool, will, with their Juvenile Band, visit the Gardens.

RIGEL WATER Al LONDON BRIDGE.

THIS DAY —Morning 0 min. after 0 I Evening 9 min. after it
To-MORROW— Morning 41 min. after 12 I Evening 9 rain. atter 1

THE WEATHER.—Sum OFFICE, S EFT WIDE S 4.
THERMOMETER, IN THE SHADE.
EB—highest since noon yesterday.
48 —lowest this morning and during the night.
in--this day, at noon.

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BAROMETER, 3014.
WIND N.E.—light breeze and fine weather.

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eakentrill
LONDON, WEDNESDAY, SEPTEMBER 4, 1850.

The Committee of the Lords on the commercial
distress deserved the marked thanks of the community
for their able, honest, and well-considered report,
a document of a very different character from that
emanating from the Commons Committee, although
the evidence adduced was practically the same in both
cases. The Peers' Committee was fairly and justly
constituted. It was not " packed" for the purpose of
sustaining a particular Act of Parliament, of preserv-
ing the restrictions on banking, by which the value of
money had been so greatly appreciated and the chains
of the debtors and tax-payers double riveted. The
Minister of the day was not certain of carrying his
own report, as Sir CHARLES IVOOD asserted ha
ought to be before assenting to any inquiry. There
waS, on the contrary, a firm determination to conduct
the investigation committed to their charge with
strict impertielity, and a " true verdi,t to give ac-
cording to the evidence," and that resolution was
unflinchingly carried out. The report itself was a
valuable commentary on the evidence. It did not
merely quote the opinions of the witnesses, but gave
the just deductions from the general testimony, show-
ing how far these deductions were sustained by, or
opposed to, these opinions ; and in the latter cases
explaining the reasons for dissent. The Committee
did not enter into the objections that have been pre-
ferred against the Act of 1819. They regarded
" the convertibility of the bank-note " as a settled
question, that should not be interfered with under
ar.y circumstances, and our observations on their
report are to be taken on the same foundation. We
need not state that we are totally opposed to the
bullionist principles, that we desire the repeal of
the Act of 1819 as earnestly as we do that of
1844, the latter merely increasing and aggravating
the evils which had their foundation and origin in
the former statute. But the subject-matter of in-
quiry was practically limited to the operation of the
supplementary law. To that the evidenee of the
witnesses and the arguments of the Committee were
chic fly directed, and we shall for the present examine
the case from the same point of view.
The entire report is uw quivocally condemnatory of
the Act of 1844. The Cenemittee state, in their pre-
liminary observations, that they had " come to the
conclusion that the recent panic was materially ag-
gravated by the operation of that statute, and by the
proceedings of the Bank itself." They add, " This
effect may be traced directly to the Act of 1844, in
the legislative restriction imposed on the means of
accommodation whit a large amount of bullion was
held in the coffers of the Bink, and during a time of
favourable exchanges; and it may he traced to the
same cause, indirectly, as a consequence of great
auctuations in the rate of discount, and of capital
previously.
.advanced at a low rate of interest. .
This course: the Bank would hardly have
felt itself justified in taking, had not an impression
existed that by the separation of the issue and bank-
ing departments one inflexible rule for regulating
the Bank issues had been substituted by law, in place
of the discretion formerly vested in the Bank. The
banking department was considered to be thus ab-
solved from all obligation but that which was con-
nected with the pecuniary interests of the proprie-
tors." The Committee then gave a more detailed Sc.
count of the primary causes and extent of the dis-
tress, which they stated the witnesses concur in attri-
buting to the " sudden and unexampled demand for
foreign corn produced by a failure in many descrip-
tions of agricultural produce throughout the United
Kingdom. This reduced the bullion from the Bank
coffers by about 7,500,0001, end 1,500,000/. from
other sources." There was also the " railway expen-
diture," " overtrading," the " rise of price in cotton,"
and the sudden and extensive " fall in sugar." They
add—" In what precise proportion these different
causes contributed to the common disaster, there is
some room for difference of opinion, but that each
bad a considerable share in producing it no person has
been found to dispute."
In the existing state of the law these causes un-
doubtedly contributed in same degree, more'or less, to
the evil ; but would they have done so if the law
were different? That is the question. The British
nation, which between loans and taxes could raise in
three successive years, 1813, 14, and 15, no less than
510,000,000/. sterling, and that without distress or
difficulty, cannot have fallen into such utter poverty,
that 9,000,0001. sterling, sent to procure food for the
starving people, could have produced such calamitous
results, such unprecedented distress and destitution—

we say " unprecedented," for the great majority of

the witnesses considered the inten,ity of the pressure
as far more severe than the distress of 1837 and 1839,
I') and many stated it to have bee❑ greater even than in
.c.the year of panic, 1825.
Tire second head relates to the Treasury letter of
__`2stirOctober, " the salutary consequences of which
Jrtoognieed gratefully by almost - every

~_t

THEATRE ROYAL, HAYMARKET.
Mr. B. Webster, Sole Lessee, and Manager, Old Brnmpton.
For a few nights only, Adelphi Company and Adelphi Pieces.
Third Apiearance of Mr. Hudson in " The Knight of Arva."
THIS EVENING,
Will be performed THE KNIGHT OF A.RVA. Characters by
Messrs. Hudson, Lambert, Boyce, Cullenford, and Miss Wcolgar.
Aster which an entirely new Extravaganza, entitled DO-
MESTIC ECONOMY. John Grtunly, Mr. Wright ; Mrs. Grumly,
Mrs. F. Matthews.
To be followed by THE IRISH LION. Tim Moore, Mr, Hudson.
To conclude with THE ENCHANTED ISLE ; or, Raising the
Wind on the most Approved Principles. Alonzo, Mr. P. Bedford ;
Ferdinand, Miss Woolgar ; Prospero, Mr. 0. ; Ariel, Miss
Fitz william.

ASTLEY'S ROYAL. AMPIIITIIEATRE.
Proprietor and Manajer, Mr. W. Batty.
The best ventilated Theatre in London.
C.owded Houses to witness the attractive and magnificent Spectacle
of mazoppa, which, with brilliant novt.ities in the Wonders of the
Arena, form the most varied and attractive Entertainments in the
lietropolls, which will be continued a few nights longer.

THIS EVENING,
Will be produced Lord Byron's gorgeous Spectacle of MAZEPPA
gnd the WILD HORSE. Mazeppa, Mr. N. T. flicks.
To be succeeded by an intinitaiilo Display of Ilatty's Feats of
Fquitation in the Cirque Olympiquc, by the male and female Eques-
rians, and re-appearance of 31atille. Gardoni.
To conclude with THE WHITE FARM.

- -
outer the Patronage of her Most Gracious Majesty, his Royal
Highness Prince Albert, &c. &c.
ROYAL SURREY ZOOLOGICAL GAIMENF.
OPEN every MONDAY, TUESDAY, WEDS E.SDAY, and
THURSDAY.
THIS DAY, September 4, the Royal South London Floricultu-
ral Society will hold their Las: Grand Dahlia, Hollyhock, and Mis-
cellaneous Flower Show, open to all Exhibiters. Every Exertion
has been used to render this the most attractive Exhibition of the
Season. An extra Brass Band will attend. All the unrivalled at-
tractions of the Gardens, and extra Fireworks, by Seuthby. Doors
open at One. Admission, One Shilling.
Prodigious Success of the entirely new-modelled Dioramic Pic-
ture representing the PASSAGE of the ALPS by Napoleon and his
Army 1 the largest Picture in the World ! with Innumerable moving
Figures the size of life. Modelled, painted, and produced by Mr.
Danson and Son, assisted by Messrs. Adams, Wilson, &c. &c. The
Picture has occupied the Messrs. Danson for many months, and it is
confidently submitted to the Public as a chef-d'ceuvre of art, and not
nferior to any production of the day.
Another splendid Elephant.
The Splendid MENAGERIE has lately been enriched by several
valuable Presents from the Queen.
The Musical Department is conducted by Mr. Godfrey. It will
be the aim of the Establishment to offer for the gratification of the
Subscribers and the Public, the most Splendid Military Band in the
Kingdom I Selected from the Bands of her Majesty's Horse and
Foot Guards, and the most eminent Artistes in the profession.
The following list of engagements will, it is hoped, convince the
public, that the long-acknowledged excellence of the Band of this
Establishment will be fully maintained I The Repertoire of Music
will be most extensive and varied, arranged from the most Popular
Operas in this and other countries. Solo-Players—Messrs. Lazarus,
Xrosperre, Egerton, Crozier, Webb, Holt, &c.
During the evening a grand Colossal, Scenic, and Pyrotechnic
'Wean illustrating the celebrated Picture by David, of Buonaparte
Crossing the Alps ! Showing a general view of the Region of the
Alps, stretching from the small mountain lake in the foreground to
the distant snow-clad mountains, crowned by the stupendous Mount
St. Bernaol and Its far-famed Monastery. A portion of the French
Army is Brat seen " en bivouac," presently the drums beat to arms,
and amid the clash of Military Bands and Martial Music, the Troops
commence the Ascent. The Soldiers are seen dragging the Artillery in
Trunks of Trees, now ascending almost Perpendicular Heights, and
traversing the most Terrific Ravines, but all difficulties are overcome,
and the Gallant Army is seen pursuing its course to the Fertile
plains of Italy.
The whole to conclude with a Gorgeous Display of Fireworks, by
Messrs. Southby, introducing, amongst various novelties, the most
admired fetm d'artifice of former seasons, jets d'eau, water rockets,
revolving pieces, a magnificent Transparency fifty feet in height,
painted by Messrs. Denson, representing Buonaparte on Horseback
cheering on his Troops, surrounded by warlike emblems, insignia of
honour, flags, trophies, &c., amidst a cerruscation of various coloured
Ares.
The complicated and difficult machinery, and the erection of the
picture under the direction of Mr. Thos Lowe. The extensive gas
fittings by Messrs. Botcherby and Dixon, 23, King-street, Covent-
garden.