The Sun.
London, England, 1844-12-21 00:00:00

on the face of the earth. If, on the one hand, we have
every ground of thankfulness at Qur Eeeey was so
well-chosen and so well-qu:
on the side
• - .4. • e ..st, it is at th
same time equally pleasing.
the Chinese, a Minister • . -was selected to
r. V
confer with him. Sir He r spenking of Key-Ing, say
e
—" Than whom a more 1 erred statesman I believe is
not to be found in any con
,ityth e world." "A manfully
alive to all the amenities 1e; and particularly distin-
guished by a high sense of • ..nr_andood faith, which
dictated his conduct throu.
tjj lithiknegotiations with
me." " I could tell you, gen-fre-mattCAseh.instances
of Key-Ing's high feeling and noble conduct as would
astonish you; and I trust at some future period it may
please her Majesty's Government not merely to do him,
but the Chinese people justice, by making his.. dispatches
and letters public." We heartily concur with the late
Envoy in this hope, that we may have some better meani
of understanding more accurately the opinions and
principles of that distant and hitherto unknown people.
The character given of this Mandarin is, besides, the
more gratifying, as he is one of the primates of the heal,
and a blood relation of the Emperor, who may not un-
reasonably be surmised to partake of the a .me
ments. In giving us this animated sketch of his oriental
coadjutor, the Plenipotentiary offers one valuable
lesson in general politics ; and by winning us to a
better judgment of the character of one Chinese
nobleman, helps to enlarge our views of the nation,
and to make us more of cosmopolites in framing our
treaties and alliances—no inconsiderable improve-
ment. But he gives us, likewise, another lesson, and
a bitter, but very needful, one it is—not to 1 ermit our
national character to be disgraced by the dissolute
habits of those connected with the Chinese trade—a
warning that we anxiously desire should be impressed
upon all who have influence (and his hearers were pre-
cisely so situated) in providing a proper remedy for our
degradation, to the scandal of the Chinese, the danger of
the individuals themselves, and the risk even of a rup-
ture between the nations. Among the healths of the
evening her Majesty's Ministers could not be, and were
not, omitted ; and Lord Stanley zealously undertook the
welcome office of responding to the honour, on their
behalf and his own. There is something at such times
generally taken for granted by the speaker in alluding
to the customary compliment. lie usually assumes that
his talents, his exertions, his endowments, his wit, and
his vigilance, or whatever definite or indefinite virtues
or qualifications may be ascribed to hi:n or his friends,
are so far ascribed, as matters of course, as the
basis of the toast—the foundation of the civility isk
wishing him health over the wine. He does not ordi-
narily allude to them himself. Lord Stanley, however,
thinks, or for that night at least thought, otherwise ;
and as he had a great deal .to say, and was in ecstaeiea
at the reception given to the toast, he thought he might
to make them perfectly aware how properly they had
applied their cheers and applauses, by assuring them,
in good earnest, that they were not at all misplaced I
Their conviction, he told them, was quite right, that
those whom they were honouring were " men of interrity
and honour;" that they laboured most desperately—
nay, most detrimentally, if need were, to " their private
comfort, health, time," &c.—all for the welfare of the
nation ! His adverbs were overpowering. Well, they
cheered him—that proved how correctly he had spoken,
and how his audience assented, and understood him. In
London we bad the mutual compliments of contending-
Cabinets ; here we have the exquisite sensibilities of
self-approving virtu*. We hope that there are mere
dinners in store for Sir Henry, and that her Majesty's
Ministers may take some part in all of them.

MONEY MARKET and CITY NE-WS,
CITY, TIEURSDAY EVENINCL
TIMES.—We have heard to-day of a plan adopted
in some of the iron districts for evading the new banking
law, entirely different from any of the verious schemed
that have been from time to time noticed under this head.
A t certain periods the proprietors of iron-works require
advances to pay wages, or for some purpose of the
kind, and they e.ddress themselves, in the first instance;
to the neighbouring bankers. In some cases the bankers'
have already issued all the paper that the new law allow;
and, at the same time, are anxious to afford the desired
accommodation. To do this they give a credit to squat*
party—probably a tradesman—in the vicinity, and in-
form their applicants that, although they (the bankers)
cannot assist them, this party can accommodate them
with small cheques. Of course there is nothing in the
law that can hinder a person keeping a drawing areutnit
with a banker from drawing cheques for any small
amount he pleases, and as the signature is perfectly well
known in the district, such cheques perform all the funo-
tions of a local issue,

This scheme seems of all that we have heard the :noel
difficult to be dealt with by the Legislature, should some
supplementary Act be considered necessary to prevent
the different evasions. The difficulty would be to esta-
blish a legal distinction between these cheques, drawn
by a party who is a mere creature of the bankers to
enable them to extend their accommodation, and the
cheques drawn by a bona fide depositor in the regular
way of business, so as to prevent the former without in-
terfering with the latter. There is this, however, against
the scheme, that it is not likely to be very widely-spread.
Indeed, it seems oily possible in small localities, where
the parties are perfectly well known, to each other.
There is also the risk that the pahy appointed ty- the
banker may abuse the confidence placed in him, and
commence drawing on his own account.
That the scheme has obtained a firm footing in some
districts, there seems no doubt ; indeed, we understand
that the bankers have been known to supply the draw-
ing party with cheques ready printed for the purpose
required.
To avoid that jobbing and speculation in railway
shares which mast be the consequence of any partial in-
formation come to by the Board of Trade, a correspon-
dent throws out the following hint:—
" I beg leave to suggest that the Board of Trade, in
making their report on railways, should give notice to
the public a week before they publish it, and that the
Chairman of each Board of Directors should have a copy
transmitted to him, but alt by the same post."
It was to be anticipated that the remarks quoted yes-
terday respecting the dealing in shares at the Stock-
Exchange would provoke much observation from the
members of that irstitution. The annexed letter has
been first selected, as it appears to enter the most deeply
into the discussion, which has been invited solely front
the belief that the public, in their dealings in that de-
scription of securities, are not at present so fully pro-
tected as they ought to be :
" Your correspondent whose letter you quote in this
day's Times, does not, with all his boasted experience of
thirty years, seem clearly to understand the difference
between middlemen' and ' brokers ' and *jobbers.*
What have brokers always been but middlemen,' and
jobbers but bona fide' fundholders like himsell I He
would fain persuade us that a new class 'of operators has
sprung up, combining both share brokers' and share
dealers in one and the same person, and thus brokers
constitute themselves middlemen' to the prejudice,
and dishonestly too, of the ' public.' No doubt it
does sometimes happen that a broker may have two
clients, one of whom is willing to buy what the other
wishes to sell, and if in such a ease the transfer is
effected at the market price of the day, of what
has your correspondent to complain ? If he thinks a
new and very extensive branch of business can be carried
on in the old-fashioned way,' he is very much mis-
taken. Shares are not like Consols,' which can be
bought and transferred the same day, and there's an
end of it.' There are such things as stamps, transfer
fees, local offices,' bc. ; and if the jobbers' were the
bona fide holders, they would have to travel far and
wide, and in their turn pay these stamps and transfer
fees and travelling expenses, all out of the 'turn of the
market' that your correspondent speaks about. Now, I
cannot but imagine, if such were the principles of busi-
ness, these etceteras would not only be destreetiTe' of
the great facilities' which a general currency in the
open market would afford, but, under the present system
of transfer by deed, would turn out a loss both to the
jobber and the public. I dare say if your correspondent
can suggest any better plan than that which is the pre-
sent practice—namely, the 14-day settlings, when the
names of bona fide buyers are passed from hand to hand
until each finds a corresponding seller, in all which
there is a vast deal of difficulty, the jobbers and the
brokers, of whom he speaks so disparagingly, will feel
greatly indebted to him.

" I do not doubt that the sweeping accusation hi
brings against all share-brokers, charging them with
oftentimes taking a little more than their commission
from tho one or other party, and sometimes from both,
arises out of the circumstance of these travelling tickets
alluded to, and from which the transfers are mud. out,
differing in price, perhaps, both of buyer and seller ; in
the latter case it may be a lower price ; this is passed
over by such men as your correspondent, but it msy
sometimes happen to bear a higher price, and when it
does so the broker, who is bound to fullow the *pries
upon the ticket, of course has robbed such an one of
the difference. Perhaps when your Correspondent has
had some thirty more years' experience he will under-
stand these matters 'sore fully. Nothing can facilitate
the interchange of railway property but central offices
for transfer without a Government stamp, or Registered
Scrip Shares to pass from hand to hand like Exchequers
bills."

Another Correspondent, a broker, writes as follows:-
" With reference to the observations in your ' City
Article' of this day, respecting the mode of dealing be-
tween brokers and jobbers in shares, I beg to observe
that the imputation is much too general. The public; I
believe, are frequently injured by certain brokers, who
transact business under the general agreed rate of coca.
mission, and then compensate themselves for the differ-
ence of the charge in the price rendered to their prin.
cipals, at their own discretion."

STATISTICS OF DRUNKENNESS.—A very curious
document has been lately drawn up on the origin, causes,
results, metaphysics, philosophy, and physiology of
drunkenness. One of the most curious chapters is that
which contains a table of the various circumstances to
which inebriety may be attributed. The report divides
intoxication into several heads, including the muzzy,
which is a sort of minor branch. Among the muzzy,
six cases out of ten may be traced to spasms, and that
one nineteenth arises from birth-days ; that arno%
confidential clerks inebriety is rare, but when it occurs.
pickled salmon, or the arrival of a friend from the,
country, are found to be the most usual causes of the
malady. Drunkenness has also been known to arise
in some instances from taking up a bill ; but as the
latter is an operation which persons given to intoxica-
tion seldom perform, the number of cases to be attri-
buted to this source is very insignificant. A wife's.
birth-day has often been known to lead to a total pros-
tration of the husband ; but it is a remarkable fact, that
the day is frequently mistaken in these instances, and
such is the power of imagination, that a man has been
kNovu to drop down into the gutter eight or nine times,
in a year, through having fancied that the birth-day cg
his wife occurred repeatedly in the course of a twelwit-..
month.—Pumh,

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