The Sun.
London, England, 1844-01-30 00:00:00

THE SUN, LONDON, TUESDAY MORNING, JANUARY 30, 1844.

vaults of the Bank was to give a credit or secu-
rity for its issues 6f Bank money ; and it is equally-
plain that any other fixed capital of ascertainable,
known, and convertible value would perform just as
well the same function. The Bank of Amsterdam
assayed credit by the means of a deposit of the pre-
cious metals ot standard value. I propose to assay
credit by the means of fixed capital of sterling worth.
To perfect a system of commercial circulation four
conditions would seem to be required—that it be
.Iself-dependent, self-adjusting, abundant, and cheap.
If it depend at all upon causes extraneous to itself,
then its power of completely fulfilling its object will
depend als, upon the co-operation of causes over
which it can have no control. If it be not self-ad-
justing, if it do not possess the property of dilation
and contraction, according to the demands of an
ever-varying commercial circulation, then that power
of accommodation which may be equal to the wants
of to-day, may be quite unequal to the wants of to-
morrow. If it be not abundant there can be no
certainty that there will be enough for all the
purposes of legitimate credit. If it be not
cheap, then that adage is untrue—that low in-
terest is the soul of trade. At all events, the
profits of discounting capital should bear a due pro-
portion to the profits of capital generally. Accord-
ing to the working of the present system I suppose
it bears very little. I will now state in what way, as
it appears to me, every condition of a perfect system
of commercial circulation may be fulfilled. I would
propose the es'ablishment of a Bank of Transfer, with
a capital equal to the discounting, if required, the whole
commercial circulation of the country :
The capital to consist of property having a market-
able value, as bullion, Exchequer bills, Bank stock,
India bonds, funded property, railway shares, canal
stares, and generally of any fixed property having a
marketable value.

The depoits to remain the property of the de-
positors.
The rent, or dividends, accruing from the deposits
to be theirs also.

The deposits to be withdrawn at the will of the de-
positor (when no debits in the Bank books stood against
their credits). _ _

A credit in the books of the Bank to be given to
each depositor, according to the nature of the deposits.
To the amount of each individual credit, the de-
positor would be at liberty to lend or sell his credit,
that is to discount on whatever terms he might choose
to accept.
To prevent any improper use of the credit, each
depositor to balance his account within stated times.
The Bank would neither pay money nor receive it,
except to the amount of its commission, say of one-
eighth per cent.
The depositor receiving all the profits belonging to
his deposits, would seem to expect little more for dis-
counting than a fair guarantee commission for the
credit he might advance, and for the risk he had to
run—his deposits would be a source of double in-
come.

To those who had no occasion to raise money upon
such property the inducement of a moderate additional
profit by discounting, would offer an easy and safe
field for the employment of capital.
This is my idea of a system fitted to accommodate
the wants of commerce, at once secure, expansive,
abundant, and cheap.
Having trespassed so far upon your valuable space,
I will not presume at present to go farther into detail.
I am, Sir, &c.,
RICHARD WADESON CARTER.
Kirk Andreas, Isle of Man, Jan. 9, 1844.

Sir E. L. Bulwer, Bart., has consented to preside
at the dinner of the General Pension Society for 1845.

Lord Wharncliffe, we observe, is, according to
some of our Contemporaries, about to be advanced to
an Earldom. What does this portend ? In ordinary
times we should think nothing of it ; but, under pre-
. .

sent circumstances and at the present crisis, it does,
when considered in connexion with certain appoint-
ments and resignations which have recently taken
place, most assuredly look as if Ministers were preparing for
the worst, and " setting their house in order," in case any
sudden emergency should drive them from power. Bets, we
understand, have been made in London that they will never
see May in their official characters.—Liverpool Albion.
An extraordinary investigation has been going on
before the magistrates, at Wolverhampton, during the last
few days, relative to a revolting charge brought against one
Caroline Harris, a midwife, who it is alleged has been keep-
ing a house for the reception of pregnant females during the
time of their confinement, and that for a pecuniary considera-
tion the children were destroyed by her. The details of
this case are of a horrible nature. The woman was remanded
for further examination.
The accounts that have hitherto been given of Sir
Francis Burdett omit altogether his connection with the
University of Oxford. He was matriculated as a gentleman
commoner of Christ Church, Dec. 13, 1785, being then 15.
His father was also of Christ Church, entering in 1761, and his
_ _

grandfather of New College, where he matriculated in 1733,
and hild the honorary degree of Doctor in Civil Law in 1749.
Lord John Russell, Viscount Palmerston, and se-

veral of the leading members of the late Administration, are
expected to hold a conference to-morrow. There is to be a
general meeting of the Whig-Radical Members on Wednes-
day or Thursday, when, it is supposed, a plan of opposition
to the Government, especially as to the amendment to the
Address, will be agreed upon.—Post.
DOG STEALEBS.—We are glad to learn, that early
in the ensuing session of Parliament, a Bill will be in-
troduced by Mr. Liddell, making the, offence :of dog-
stealing a penal one. This nefarious traffic, so long
carried on with impunity, calls loudly for legislative in-
terference. Horse-stealing and sheep-stealing are de-
nounced as felon:es ; and why should not the same
penalty be awarded to the dog-stealer ? These thefts are
committed for the purpose of extorting money, for it
most frequently happens that individuals so robbed
would recover their dogs by payment of large sums
rather than allow their favourites to be subjected to
cruelty. We understand, strange as it may appear, that
no less a sum than 7131. has been paid in this manner
during a short period. Mr. Bishop, the gun-maker of
Bond-street, is entitled to the thanks of the community
at large for his humane exertions in affording protection
to the owners of valuable dogs. A petition has for
some time been open for signature at his establishment,
which has received numerous signatures. The object of
this petition, which will be embodied in the Bill to be
brought before the House, is to insure a proper meed of
punishment to all dishonest dealers in canine flesh ;
that the crime of dog-stealing shall be constituted a
felony ; and, moreover, that the receiver of any dog,
known to be illegally obtained, shall be considered as an
accomplice, and be visited with a similar sentence of
transportation.—John But.
SOUTIIEY ON STYLE.—" Ours is a noble language,
a beautiful language. I can tolerate a Germanism for family
sake ; but he who uses a Latin or French phrase where a
pure old English word does as well, ought to be hung,
drawn,
,and quartered,
for high treason against his mother
tongue. '
MILDNESS OF THE SEASON.—On Saturday last
the gardener to Mr. Walesby, the Chairmen of the Middlesex
Magistrates, was pruning some bushes in the grounds attached
to that gentleman s mansion in the Wandsworth-road, when
he suddenly started a robin. Upon examining the bush from
which the affrighted bird had flown, a nest was found with
two eggs in it, both quite warm. For some days past the
rooks have been busy in. repairing the old nests and build-
ing new ones in the magnificent row of elm trees which skirt
the entrance of the village of Fulham from London.
EXTENSIVE RODBERY.—On Thursday night, be-
tween six and eight o'clock, some person or persons entered
the bedroom of Mr. T. Elkington, landlord of the Coach and
Horses, No. 120, Holborn-hill, by means of a skeleton key.
About eight o'clock the children were put to bed by. the fe-
male servant, who observed the doer of the room ajar, but
did not mention the circumstance till about ten o'clock,
when on going into the room t cro drawers of the wardrobe,
in which were placed a large quantity of money, S'et
being two other chests of drawers in the room) were (them
d
to have been forcibly broken open, and the following m oitn,
and property stolen :-150!. in notes (number known), a 2°l
rote, marked " Adam Moss," ten sovereigns in a bead-purse,
ten sovereigns, two double sovereigns, 24 old guineas and three
half ditto, old coins, a silver watch, two pair tablespoons (sif-
ter) marked "T. A. E," six silver teaspoons, marked
" T.A.E." one gold mourning-ring, marked 66 John Elking-
ton," a silver hunting-watch, a gold guard attached, a gold
chain (curb), five gold finger-rings, one pair sugar tongs, three
gold seals, and two gold keys, gold eye-glass, chased, Sec., &C.
The robbery is supposed to have been committed by some one
who knew where the money was kept. Information has been
given to the City and Metropolitan police.
COMMISSION OF LUNACY.—On Friday forenoon at
ten o'clock, a commission of lunacy was opened before Mr.
Commissioner Barlow, and a jury of sixteen gentlemen, at the
Crown Inn, Holloway, to inquire into the state of mind of Miss
Mary Elisabeth Graeme Henry, the daughter of an East and
West India merchant, now residing in Alfred-terrace, tlpper
Holloway. The commission was sued out at the instance of
Mrs. Charlotte Amelia Beckwith, the sister of the unfortu-
nate object of the inquiry, who was represented by her solicitor.
Miss Henry was unrepresented. Mr. Commissioner Barlow
explained the case to the jury, and after the examination of
several witnesses, the jury expressed themselves satisfied, and
they found—That Mary Elizabeth Greme Henry was of un-
sound mind, and incapable of taking care of herself or pro-
perty, and that she had been so since January, 1841.
LIGHT GOLD.—The Governor of the Bank of
England, with a view to facilitate business at that establish-
'Kent, has invented a plan for a machine for weighing sove-
reigns, and of separating the light from the heavy gold ; a
model having been completed, which was found to answer in
.all respects, the light coins being weighed arid separated
from those of the legal current weight with the greatest
exactness and nicety. It is driven by a small vacuum engine,
but is capable of being worked either by hand or steam, and,
on the average, weighs between forty and fifty sovereigns a
minute. It would be impossible here to enter into a minute
detail of the varied beautiful mechanical movements, bat,
suffice it to say, that the machine is first set in motion by the
sovereigns being placed in a receetacle similar to a tube, called
a "hopper," and from thence, by springs and wheels are con-
veyed to the balance. If the coin be light, it is deposited, by
means of a " gripper," in a box on one side, and if of a proper
weight, it falls into a box on the other.
.. These "grippers'
are similar to those used in printing-machines.
A conger eel, seven feet long, and two feet three
inches round, was sold in our market yesterday for six shil-
lings. It weighed about 1281b5., and was bought by a per-
son belonging to Lewes. It was the largest eel ever seen by
the oldest of our fishermen, and was taken about twenty
miles off the town by Hannan's boat.—Brighton Herald.
SUFFOLK.--A curious discovery was made in St.
Mary's Church, Bury, last week. In cutting through one of
the pillar-shafts (which are of limestone or clunch) for the
purpose of inserting the new capital, the saw was obstructed
by same hard substance, and the workmen was obliged to
cut it off at a lower place. On afterwards opening the piece
of stone, it was found that the obstruction was caused by two
iron balls about the size of pistol bullets, firmly embedded in
the stone, which was perfectly solid all around them,_ proving
that the iron substances must have been there before the
stone was formed. We believe them to be pyrites, or sul-
phate of iron, which are not milrequently found in a very
regular form in the chalkstone cliffs of the Southern coast.—
Norwich Mercury.