The Sun.
London, England, 1844-10-09 00:00:00

professed„ to love and an-ct
-roceed out of fear and softness,
this virtue could not 1.,
extce
sh,ou n
ido
for he was valiant and active; and, thereforep
doubt, it was truly Christian :I'd ;floral. It MIS also
mneh that one who was so great a everof
Ibe so happy in ‘var, for his arms were.lever unfe'rtu-
. nate, neither did he know what a ditasi,;:r ;newt."
j This has been called flattery of Henry:, but ti'le•
most angry of Louis Philippe detractors muse se
that it is strict truth of him. And if Bacon drew,, a
it is supposed, merely a fancy portrait of a perfect!
' I monarch, France may well be proud that the greet%
philosopher's ideal of the best of monarchs is realised
in her Sovereign. Yes ; France has reason to be
proud of her King—the King that has for the first time
exhibited what France can really be—a nation of free-
I men, obedient to the laws, a nation advancing in wealth,
happiness, prosperity, and improving in purity of
morals, and manliness of sentiment, at the same time,
Ia nation the most powerful of the continent of Europe,
and that which still is almost the least distrusted by her
neighbours, and that from which the weaker states
least fear oppression. This is true glory—glory
such as France, had she been able to make Napoleon
immortal, and to invest him with invincibility would
never have attained by war. Napoleon overran Eu-
rope, but did he ever conquer the respect and affection
of its inhabitants for France, as Louis Philippe
has conquered both ? No, Napoleon's victories
ever won more enemies to the country he ruled, than
either of territory or glory. And what did he far
France himself ? But this is a question beyond our-
province. We can claim an interest in the happiness
of our neighbours only as we are members of the
human family—but as such we are grateful to Louis
Philippe for all that he has done for France; and
few years will have passed before Frenchmen will
blush to compare the more than doubtful honour of
the Napoleon era with the true gloryof the government
of 1830. The heroism of good government ever survives
in memory and gratitude, as it ought to do, the heroism
of conquest. Millions reverence the name of Alfred:,
who probably never heard of his military achievements,
and to whom the name of Eddington, the scene
of his greatest victory, occurs now for the first time.
And such, in future ages, will be the distinction be-
tween the conqueror and the peaceful rulers among
the sovereigns of France in the nineteenth century—
the conquerors will be forgotton, while he who now
honours us with his presence will be remembered
among the great benefactors of the human race.

MONEY MARKET and CITY NEWS.
CITY, MONDAY EVENING.

TIMES.—We have been informed that in some parts
of the country a notion exists that a banker who issues
Bank of England notes is in some degree more worthy
of credit than one who issues his own paper. This no-
tion, which seems founded on some kind of vague belief
that the Bank of England is responsible for the liabilities
of these particular bankers, will appear ridiculous to all
who are acquainted with the real state of the case ; but
as the impression is prevalent enough to render it worth
while fur some country bankers to signify by large
placards that they issue " Bank of England" paper, an
explanation of the relation of the parties will sot he
thrown Away. The Bank of England has nothing vim-
. ever to do with the credit and responsibility of these es.;
tablishments ; it does not eve❑ make them advanceF.,
unless indeed it discounts their bills, in which case they
are only in the position of any other bill-holder. Setting
this case aside, it is in return for gold and silver, or for
other Bank of England notes sent in by the agents of the
country bankers, that the Bank of England issues its
paper, by which it is obvious that it does not increase tha
currency one farthing, but only allows the country banks
to have that money in the form of bank-notes whichl
they previously possessed in another form. Here the
transaction ends, as it would with any person who might
hand over 100 sovereigns at the Bank counter and take a
1001. note in return. As for the contract by which a per
centage is allowed to the country banker for keeping out
the circulation of Bank of England paper, that is an af•
fair with which the public have nothing to do. Theßank
of England is responsible for its own notes, and for no-
thing else, except to its own customers ; and the depo-
sitors who fancy that they have a superior security be-
cause they deposit their money in a bank that uses these
notes, are under a most singular delusion, A bank issuing
Bank of England paper may be just as gond or just as
bad as one that issues its own.