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

CAPE OF GOOD HOPE.

The ship Earl of Belcarras has brought papers
from the Cape of the 16th of February, from which
we learn that the Glentanner vessel, which left
England on the 12th cf December last, arrived in
Table Bay on the 12th of February, with the wel-
come peace message from Earl Grey that he had
revoked his former decree consigning convicts to that
colony, and that orders would be immediately given
for the removal of the Neptune to Van Diemen's
Land. The military convicts which might arrive
there were to be sent to England, if the colonists
opposed their landing. This happy intelligence soon
spread far and, wide, and a special meeting of
the Anti-Convict Association was held in the Town
Hall on the 14th of February, when resolutions were
passed expressive of gratitude to Almighty God for
the " happy deliverance of the colony from the con-
vict scourge ;" that the usual intercourse with the
Government departments should be at once resumed ;
and that all signs of mourning in the shops and stores
should henceforth cease.

It was also determined that a general illumination
and a dinner amongst the members of the associatio❑
should take place upon the day when the Neptune
should take its departure.
A subscription was opened at the close of the meet-
ing, for the purpose of supplying the convicts with
some luxuries for the approaching voyage.
The different religious bodies had, also appointed
days for public praise and thanksgiving.
Captain Anderson, of the barque Aliwal, had dis-
covered a large and dangerous rock, or shoal, with
heavy breakers, about thirty miles south-west from
Natal, and distant from the land about two miles,
which was not laid down in any chart. Captains of
coasting vessels were therefore warned to be on their
guard.

TO THE EDITOR OF THE SUN.
Sin,—ln your valuable paper of Friday evening
last I find a return of bank-notes of the several banks
of issue in England and Wales, stating the average
amount in circulation during the four weeks ending
the 16th of March.

Now, Sir, would you, or any of your correspon-
dents, inform me what object there is answered by
publishing these returns ? I should think that the
publication of these returns, if accompanied with a
statement of the assets and liabilities of each bank;
similar to the weekly statement of the Bank of Eng-
land, would be of valuable' service to the country
generally, as then any person doing business with
any bank might see the amount of reserve held, and,
consequently, the power of the bank to give accom-
modation. 1 must confess, Sir, I can see no just
reason why all other banks, whether of issue, of de-
posit, or both, are not compelled by law to publish
weekly statements of assets and liabilities similar to
the Bank of England. Ido really believe, Sir, that
had all other banks published weekly statements of
assets and liabilities in some some newspaper that
usually circulates where each bank is situated, so
that the public might see them, the Bank of England
would have come in for a less share of public censure
in 1847, and other banks for a greater share.
I am, Sir, yours respectfully,
JAMES EMMETT.
Market-street, Burnley, April 4, 1850.
[There could not be a greater or more vexatious
interference with the " rights of property" than that
which our correspondent advocates. The case re-
specting the Bank of England is sufficiently inquisi-
torial, and unquestionably materially aggravated the
panic of 1847; and if it did not produce, it unques-
tionably materially enhanced the dangers and difficul-
ties of the commercial crisis that occurred. The
Bank of England was, however, a national establish-
ment, and its directors, of their own free will and
accord, assented to give the information ; but no
private establishment could fairly be required to
publish such accounts. Their issue of notes,
payable on demand, was limited unwisely,
and, as we conceive, improperly limited.
The principle of free trade was violated so far
as they were concerned, and they were subjected to
great and mischievous restrictions in carrying on
their business ; but, if compelled to render periodical
accounts of their assets and liabilities, few would
consent to continue their establishments, and the
community in general would suffer materially by the
change. Why should bankers be required to do so
more than any other class ? If the principle were
once established, the next step would be to call for
the publication of the income and property-tax
returns, so that every man might pry into his neigh-
bour's affairs, to gratify his own curiosity.—En.Sun.]