The Sun.
London, England, 1826-08-11 00:00:00

without any apparent cause, assumed a more lively ap-
pearance, And for Some days gradually advanced. At
the beginning of the present week they sprang up
more rapidly, and'on Tuesday had reached 79i ; when;
of a sudden,,the disposition to ptirchase ceased, some
Brokers of eminence sold large sums of Money Stock,
' and all became' eager to follow their example The
effect, of course; was immediately evinced by a decline
to 79, and the same disposition to sell continuing yes-
terday, a Thrther decline to 78i was the consequence.
These fluctuations in the Money Market are not
indications of a more or less prosperous state of things
in the country in general. They depend entirely on
epinion, and that opinion, influenced by a thousand
circumstances unconnected with political affairs, the
state of the country, or reasonable.calculation. A sus-
pension of a depressing cause, a temporary plenty of
Money, or reports of any favourable change m the state
of trade, are seized, as affording sufficient reasons to buy
stock. Spectators commence, all other dealers- in
the com;noclity follow their example—those of the
Public, who are about to invest Money, and those who
dabble in the Funds, take the alarm, fancy they shall
he shut out-and, following the leaders like a flock of
sheep, buy•over each others heads like bidders at an
auction. The Funds of course rapidly advance, and,.
in the Meantime, the large speculators who commenced
the rise do the public the favour to indulge them by
selling to them the stock they purchased at lower_
prices ; and, by the time the public •are served, the
`speculators have not Only sold -all they bought or
previously postAssed, but perhaps twice or three times
as much. They then begin to inquire the cause. of
the rise—rumours are set on foot—a gloom comes
over the market, persons having stock really to sell
hasten to get rid a it—an alarm of an approaching
fall gains ground, and then ensues -a panic and a de-
sire to sell greater than that which had before existed
to purchase, and a further depression of stock follows.
The public, as usual, suffer—and the great speculators
on the spot pocket the differences.
This is a true picture of • most of the sudden fluc-
tuations which take place in the price of the Funds.
To this effect, so injurious to the community, we are
sorry to say, that the public press
,very materially con-
tributes. Almost every Paper in London seems one
day to endeavour to write up the Funds, and the next
(lay to depress them ; and the influence which the
daily Journals have on public opinion, is in no case so
much evinced as with respect to the price of stockS.
We must not therefore, we repeat, look on these
sudden changeS in the value of Government Securities
as any indication of the state of the country. The
general price of the Funds is,.of course, like the pulse
in the human body, a very decisive proof of its condi-
tion ; but as the pulse may be suddenly raised or de-
Pressed by circumstances not connected with the health
of the party, so the Funds may fluctuate two.or three
per cent. up or down, without being occasioned by; or
Indicative of, the real state of the country.

It will be seen by our report of Mr. Justice PARK'S
address to the. Grand Jury at Lancaster, that the trial
of Mr. WAKEFIELD iS not likely to come on till next
Week.

, From the expressions used by the Judge in his
cflarge: it would appear, that it was questionable
whether Mr. WAKEFIELD would be indicted capi-
tally for the offence of which he is accused, Under'the
Statute of Henry VII. ; or whether he would be in-
dicted upon the less-penal Act of PHILIP and MARY;
or for the misdemeanour at Common Law.
A" Act of the 39th Queen ELIZABETH, had
away the benefit of Clergy from persons convict-
ed on the • Act of HENRY Vii. ; hut that Act of
ELIZABETH was repealed by an Act of his present
MAJEsTY's reign, and consequently the Statute Law
Upon the species of abduction contemplated in the Act
01 HENRY VII, has bgen restored to the state in
which it stood between the reigns of that King and
of Queen. ELIZABETH. The offence, therefore, with
which Hr. WAKEFIELD is accused, is, under the
Inciet penal Statute, a Clergyable felony. We shall, in
the present stage of the business, abstain from making
any observations whatever, lest they should be con-
strued as tending either to the prejudice of the accused,
or of the cause of justice.

It appears that the expediency of establishing a
Joint Stock Banking Company, has for some time
been a matter of general conversation amongst the Ma-
nufacturers of Manchester: at last it became the sub-
ject of serious consideration with the wealthiest, indi-
viduals, who resolved upon tI4 utility of such a messure.
A plan for the formation of a Joint Stock Bank, has in
consequence been drawn up and circulated.
The out-
line of the plan is, that the capital stock shall consist
of 500,000/, divided into 5,000 shares; no individual
to subscribe more than 100, nor less than 5, shares ;
that 10 per cent. be paid within a month from the
time of subscription, and 15 per cent. when the deed
of settlement is ready to be signed. The Company
to be considered as formed when the subscriptions
shall amount to 1,000 shares, and then a meeting of
the Subscribers is to be convened to elect a Treasurer,
and Committee of Management. When 2,000
shares are taken, the Company to commence business
under the management of a President, Vice-President,
and twelve Directors.
We are rejoiced to learn that an experiment, will
thus be fairly tried of the advantages resulting from a
Joint Stock Banking Company in England.
We have
invariably expressed ourselves friendly to the introduc-
tion of the Scotch System of Banking into this p
e attempt
at Manchester as the first step towards it. We have no manner of doubt; of the beneficial consequences which
will result to Manchester and the surrounding
districts
from the establishment of a Bank on these principles ;
and we would advise the trial of a similar experiment
at Birmingham, and some other of the large manufac-
turing towns. The day is not distant, we predict,
when Banks on the :Mint Stock principle will be ge-
neral in different parts of the country ; and we hope
that the exclusive privileges of the Bank of England
wiall not long prevent their establishment, even in the
Capital o the Empire.
0

'ar Paper of this (Illy contains a complete report of
the Trial respecting the Idiot SNi ITU, at Gloucester,
which'Occupied the Court three days . It was an ac-
ti°n for Libel, brought by the Brother of the Idiot
argaintit the Proprietors of the Birmingham Journal,
'Or publisk!__
lung the reports in circulation, touching the
erueltY*and inhumanity with which the forlorn Idiot
Thad been dealt. We advert to the subject merely to
cyress our surprise at the unceremonious attack of
air. Justice BURROUGH upon the liberty of the Press.
The I Learned Judge seems to have taken a leaf out of
MA:xspiELD'S book, and to have improved upon
114 boveious original with a vengeance. God help Poor Journalists if the casual errors of the press,

snbject to every disadvantage, are to be weighed
in the scrupulous scales of legal technicality ! Why,
truth would not recognize her own face in the mirror
of such justice. A witness in a court of law is sworn
to tell " the truth, the whole truth, and nothing but
the truth," and yet when a defendant is brought up
for telling the truth, 'he is not allowed to avow it !
If. he attempts to justify the truth of what he has
asserted, he is met at once with the charge, that a
justification only aggravates his guilt ! We confess
ourselves at a loss to reconcile such doctrines to com-
mon sense. Cases may certainly occur, where it would
be improper to state the whole truth, but is a party
who publishes what is in every person's mouth, to be
told that his guilt is "greatly aggravated " by attempt-
ing to prove the truth of the matter, if he fails in sub-
stantiating the whole in his. justification, agreeably to
the punctilious strictness of special pleading—another
term for legal absurdity ? A defendant might prove
99 pleas in his justification, and yet be unable to make
out the hundredth;. merely because the practice of the
Court would not allow him to do so according to the
rules of evidence.

The Press is assailed on every side by pettifoggers
longing for damages and costs, and by others who cry
but against the licentiousness•of publication, merely
because their deeds are dark, and will not bear
the wholesome light of public observation, and
consequent disgrace. We are as much surprised at
the result of this trial, as at the reasoning of the Learn-
ed Judge, and we have no doubt the public feeling
will go along with us in that opinion.

THE FUNDS.

CITY, Twelvit o' Clock.

Consols opened at 78} 4, but in consequence of a variety of re-
ports, among others that of ball news from India, which have,
however, proved unfounded, Consols went down to 784 4; they
are now somewhat revived, and may be quoted 784 4; the market
is, however, heavy, and some considerable sales have taken place.
Very little business doing in the• Foreign Funds : Mexican' Bonds
are depressed, being 50 504 ; Colombian 324 3—in Shares
there is nothing doing. Brazilian Mining Shares are 15 16 prem.
Three per Cent. Consols, 784 4; Ditto for Account, 784 4;
India 4 per Cent. Bonds, 28 30 pm. ; Eichequer Bills, 17 18 ;
pm. ; 4 per Cent. Scrip, 14.2 pm.

FoltriGN FUNDS.—Brazilian, 62 3; Buenos Ayres, 53 5;
Chilian, 39 40; Colombian, 1824, 35,}4 ; Mexican 5 per Cont.,
43 5 ; Ditto 6 per Cent., 50i I• Greek, 12t 131 ; Russian,
83i 4; Portuguese, 73 ; Spanish, 101 ; Danish, 57i.
thrizs.---Ariglo Mexican, 47] dis. ; United Mexican, 10i
dis. ; Brazilian, 16 17 pm. ; Tlalpuxahua, 40 pm. ; Colom-
.bian, 1 3 per Share ; Caatellos, dis. ; Pasco Peruvian, 10
9 dis. ; Bolivar, 1 3 pm. ; General Mining Association, dis.
pm. ; Potosi, 1 2 per Share.
SHARlS.—Alliance, Fire and Life, 101. pd., 6A. 7' per Share;
Ditto Marine, Si. pd., si 4 per Share; British Iron Company,
29 7 dis. ; Welch Iron and Coal, 19 17 dis. _ _ _

Two o'clock.

Considerable business has been doing in the English funds, par-
ticularly in Consols, an eminent Broker having purchased 150,0001.
at 781, and 100,000/. at 78%; they have subsequently risen, and
are now 78**, with the Mallet more cheerful than in the morn-
ing; 3{ per Cent. Reduced, 79 ; Four per Cents. 94 ;
New 4 per Cents. 9q; Exchequer Bills are rather lower, 15
to 16 pm.; India Bonds, 28 to 30 die. ; Mexican Bonds, 49i t.
THREE 0' CL 0 CK.
3 per Cent. Consols, 781

LAW INTELLIGENCE.

COURT OF CHANCERY. -(r HIS DAY.)
MAWMAN AND ANOTHER. V. TEOG.

Mr. SOLICITOR-GENERAL said, in the case of the Encyclo-
pedia Metropolitana, the Court had given the publishers of the
London Encycloposdia.the opportunity of making an affidavit,
but unfortunately it had not limited any time within which the
affidavit was to be made ; the consequence was, that there was no
appearance of the affidavit yet.
Mr. HORNE appeared on the other side. His clients were mak-
ing an affidavit ; they were very good authors, but undoubtedly
making an affidavit was a new species of .composition to them, and
therefore they required some time to accemplish their task. .
Mr. SOLICITOR-GENERAL said, all the parties were in town, they
all lived in Paternoster-row, and thelefore he hoped his Lordship
would limit the time to Monday, as after it was made, further in-
formation might have to be given by the plaintiffs.
Mr. HORNE wished his clients had been in Court.
His LORDSHIP desired to knoW what progress they had made.
Mr. StiarowaLL presumed they were compiling in it, but could
not say how far they had got.
His Loansttie desired the affidavit to be produced within a
reasonable time.

Mr. SOLICITOR-GENERAL should insist on its being produced
on Monday.

COVENT-GARDEN.
CONST V. HARRIS.

Hu Loansnir stated, that an application was made to the
Court for a Receiver and Manager to this Theatre, and it even-
tually ordered that the nightly expencee should be paid, but gave
no sanction to the payment of any debt incurred previous to the
appointment of the ReceiVer. His Lordship thought that the
Theatre was to be looked at exactly as a common case of partner-
ship, to be carried on by the Court until it was wound up. The
case was ordered to stand over till Monday.

VICE-CHANCELLOR'S tOURT.—AucusT '7.
EX PARTE HAINES IN THE MATTER OP DONEIN.

This was a petition praying fo r the interference of the Court
under the following circumstances :---The petitioner was the
father of a boy,
.who bad been an apprentice of the respon-
dent at the time of his bankruptcy.. fly the 49th section
of the new Bankrupt Act, the issuing of a commission operates
as a discharge of indentures of apprenticeship, and the Com-
missioners are empowered to pay a reasonable sum of money
out of the effects of the banki-upt, to such apprentices as have paid
fees. It appeared, that in this case no indentures had been exe-
cuted, nor money paid, hut it had been agreed between the par-
ties, that the bankrupt should retain 1501. out of a larger sum
which he owed to the petitioners as,a fee, and that the indentures
should be completed withoutdelay ; but the latter was prevented
by the bankruptcy, as the Act requires that there should be an in-
denture. The Commissioners objected to the claim of the petition
as not coming within its provisions.

The VICI-CHANCELLOR said, that the apprenticeship had
virtually commenced, and that it shetuld be considered an appren.
ticeship by indenture, within the equitable construction of the I9th
section of the Bankrupt Act ; and ordered that the Commissioners
do allow the petitioner a reasonable sum of money, as the Act
directs.