The Sun.
London, England, 1842-04-28 00:00:00

A SOLDIER'S REWARD.

Charles Scarlet, an Irishman, about -10Y;;;;f age, wait
charged at Guildhall yesterday with begging in St. Paul's
Church-yard.
The policeniTn said that when he desired the prisoner to
move on, he peremptorily refused to do so. He said he was
destitute, he had no friends, and he had determined to beg
there, or be taken into eus-ody. He found the prisoner ha
served the East India Company eleven years, and had been sent
home invalided for deafness, without a pension. No pension
was gr annul for less than fourteen years' service. He had lost
his hearing by sleeping on the ground on his way to Candahar,
and through the noise of the cannon at the taking of Ghuznee.
He had his discharge about him.
The prisoner, in answer to the inquiries of the Magistrate,
said he had keen sent to Dublin by the East India Company,
and discharged with 28s. to take him home, but he wanted to
go back to India. He should starve in England or Ireland,
but. he knew he should do very well if he could get to Calcutta,
where he had a wife living in the service of a general, and a
son in Bishop Heber's school.
Mr. Alderman KELLY thought that it was rather hard, after
so long a service, and sustaining injury in that service, that be
should be allowed by the Company to sink fir want of a little
help. lie directed a letter to be addressed to the Secretary,
brgeing his consideration of this poor man's case.
The policeman returned with a dry reply from the military
secretary's (Alice, that the pension did not become payable for
less than fourteen years' service, and that the immuner uas
discharged at the end of eleven years.
Mr. Alderman KELLY said lie knew all that before, and he
did not, send him as a man who had a legal claim, but one Mho
had a strong claim on their sympathy and kindness. Ilowovi-r,
he would send him to the Cation-sneet Union, and perbal.s the
Guardians would renew the appleation to the Company, or do
something for him.

MONEY MARKET Eva' CITY NE W S

FROM THE MORNING PAPERS OF THIS DAY.
TIMES.—The ill effects of the Batik f England lowering
the rate of discount to 4 per cent. are now universally felt and
acknowledged. Money is so very abundant that dealers in it
have literally no employment for it, apart from the public see
curities and shares, which in some branches of business would
not be a fitting employment of capital. Some have supposed
that a power exists in the private dealers in money of maintain-
ing a high rate of discount, even in opposition to • the Bank of
England. but this supposition has been founded on an imperfect
survey of facts. For though it is true that there are a large
class of borrowers, who hot being of that standing to receive
assistance from the Bank of Er gland, and being therefore ne-
cessarily thrown upon the private dealers, are obliged to agree
to such terms as they may require, still in the majority of their
transactions the private dealers are completely ruled by the Batik
rate of discount, and are obliged to discount at a lower rate
in self-defence. Besides, it is to be considered that even
if the private dealers in money were determined to
take a strong position against the Bank, and refuse to lower
their rates, every person that left them and borrowed of the
Bank would bring fresh notes into circulation, and the abund-
ance thus increased would be sure to lower the value of money
everywhere. The result of the present exttaorbilry state of
things is looked forward to with much curiosity. The impos-
sibility of finding any legitimate employment of capital will
probably lead once more to a taste for speculation, and the
sudden appearance of Bucuos Ayres and Peruvian Stooks at an
advanced price in the Stock Exchange a few (lays ago, after
they had long ceased to be regarded as marketable securities,
may be considered as a sign of the spirit that is reviving.
There has lately been a great decrease in the circulation of
country bank notes, as compared with former times, which
has been contemplated with some interest, though the cause
is not generally known. A solution has been offered,
which seems a plausible one, and that is, that the de-
crease is owing to the working of the present system of penny
postage. Formerly, when the conveyance of the notes to
London was attended with considerable expense, a country
banker would reserve all the notes he had received from other
country banks fur perhaps a week, and would then send them
all in one parcel to his London agent. The banks making their
returns of the amount of circulation, of course included those
thus held by the other banks. Now, however, as the charge
of a single penny will at ence convey a note from any part of
the country to London, the notes are sent by a country banker
to his London agent as sown as he receives them, and they tied
their way back to the bank that issued them with equal rapidity,
and are at once retired from circulation, makdig a great differ-
ence in the return of outstanding notes. As some false conclu-
sion might possibly be drawn from a decrease in the number of
outstanding notes to a decrease in the amount issued, this expla-
nation may be Lund use.ul.
The stoppage of the Leith Banking Company has been men-
tioned to-dry in the City. It was a very old estakished con-
cern, but the business seems to have been dwindling away for
some years, so that it has lately been considered of very little
importance. The explanation which it is said has been given
is, that one of the shareholders having retired from the con-
cern, took the precaution of advertising his retirement in the
newspapers, and that the depositors having taken an alarm at
this, a iun on the bank commenced, and continued till it was
deemed advisable to wind up its affairs. '1 his is the explana-
tion said to have been given by the parties at Leith, and here
it is generally believed that sufficient assets will be found to
satisfy every demand.

SON.—:The British Funds continue to rise, and the
market left oft; buyers, of Consols, at 921 fur Money, and
92i for the Account ; Bank Stock, 166 - ; India
Stuck, 243 247 ; Exchequer Bills, 38 40 premium.
The principal dealings in the Foreign Securities have
been in the Dutch Two-and-a-Half per Cents., which
were 52i 52 ; and the Five per Cents., 1004, 1014 ;
Belgian,lo3 ; 80:1- 8I 4 ; and Brazilian,
67 68.

Mexican has been neglected, the quotations being the
same as at the commencement of business, namely, 354.
Transactions in Railway Shares have been
which must be chiefly attributed to the small number of
the principal lines uttered fur sale. Great Western were
281 291 ; the Half Shares, 28i4.29: ; and Birmingham,
89 91 premium. Birmingham and Gloucester, •55 5 ;
South Western, 62 6211 ; Gosport, 62 62:k ; North Mid-
land, 67 69 ; the New Shares, 32i 33 ; South Eaetern
and Dover, 291 30 ; Eastern Counties, 9.1 10 ;
wall, 12 124 ; the New Shares, 10.10 - ; and Brighteii,
34-,4 36 per share.
Scarcely any bargains were made in the Bends, of the
insolvent States. The quotations were, nominally=co-
lombian 261 261 ; Portuguese Five per Cents., :371
381 ; the Three per Cents., 22 23 ; Spanish Five per
Cents., 24 24 ; and the Three per Cents., 24 24f.
A portion of the East India merchants have been en-
deavouring to alter the terms upon %%licit sugar from
Bengal is at present sold. The present conditions arc,
for the importer to pay the duty, and to allow
a credit of two months, or, if the buyer 'should
prefer to pay fur the goods at once, or if the
seller, for any reason, should choose the money in
preference to the risk, then in either ease the purchaser
is allowed interest for the unexpired term of the credit.
This system. has latterly been found to work extremely
well for both parties ; by relieving the grocer from the
obligation of keeping up a large capita!, thereby pro-
portionably reducing the price to the retailer and the
consumer, and procuring for the seller a higher price
than he should otherwise get, in consequence of the
facility offered to the buyer inducing competition. This
method for selling the article in question, has survived
the introduction of the bonding system, first introduced
by Mr. Pitt ; and, as the duty on the produce of the
East Indies and the Mauritius, was equalised with
that of our West Indian Colonies, so were the terms
assimilated ; and, at present, the intention is, if possible,
to oblige the buyers to pay immediate cash, and pay
the duty themselves, as they may require the goods.
The strongest objections which the merchants can urge
will be the risk and the expense ; the latter is almost too
small to be of consideration for a moment, the extra
amount being the brokerage and commission on the
amount of duty, (245. per ewt.,) and the two months' in-
terest, if the goods be paid flir, which can scarcely be put
into competition with the advantages derived from the
extended demand which the facility of transacting busi-
ness causes ; and, as it will have been observed above, it
is optional with the merchant to trust the buyer, as
immediate payment, with the deduction of interest ern
be, and most frequently is, demanded. Many houses
who have been most extensively engaged in this branch o f
business have never, from acting with proper can-
Lion, met a loss by giving credit ; while ethers,
by acting recklessly, have been severe sufferers. It the
alteration be made, all parties connected with the article,
except a few large capitalists, will be losers ; the plan-
ters front the absence of competition, the wholesaks,
grocer and the retailers will all be at the mercy of, and
obliged to pay what the middle men may demand, who,
from their wealth, may conunand both the market and
the prices, and thus a complete monopoly will he created.

\WILKIE'S SKETCIIES.—The third day's sale (yes.
terday), which included " Studies of hands for celebrated pic-
tures," " Sketches in Holland and the Netherlands in 14116,"
some " Chalk anti tinted drawings," and " Copies from ancient
and modern masters," brought altogether 409/. 16s. 6ii, jr,
the chalk drawings, lot D, " A figure," realised 81. 1.53., and
lot 327, " Drawing a Net," 15/. 15s. Out of this co;deti from
ancient arid modern masters, lot 340, " Head of Ilaffaelle,"
fetched 61., but the largest sums were obtained for some of the
tinted drawings. Of these, lot 352, " A Woman with
their," was sold for 8/. 83. ; lot 364, " A Negro in the Pic..
ture of Josephine," signed, 31. 10s. ; lot 367, " A Study SO
the Whiskey Still," 25/. 4s. ; lot 368, " Sir David Baird
covering the body of Tippoo," a large sketch, 101. ;
lot
360, " George the Fourth's Entry to Holyrtioti House,"
101. 10s. ; lot 370, " An East Indian," 6/, Bs.
;lot 372, "'l'!,e
Sercuatie, Seville," 16/. ss. 6d. ; and lot 377, " The First
Ear-ring," 21/. The sale of the drawings mad° by Sir David
Wilkie during his last journey will take place to-morrow and
on the day following, and the sixth and lu swill be appropriated
to the disposal of the sketches made in oils, which includes
his "School," a beautiful composition of thirty-six figures,
treated with all the nature and :kill for which the artist was
celebrated in the peculiar wyle of composition to which the
picture belongs.

DR. 11.1.11)5S LECTURES ON CIIEMISTRY.-Dr. Reid
delivered a lecture at Exeter Hall, yesterday evening. The
time was occupied chiefly in explanations on the nature and
variety of gases, and in a brilliant series of exper_iments.tending
to prove a principal fact, that the internal column of a flame of
gas did not possess the property of igniting substances, but that
it was the particles existing in the outward cylindrical flame
that alone were combustible. Experiments also on the diverse
tlnurtidhetinletettourteh.e ftipblelyliairagleearondenibluew,ay:
as
colours of flame, and the causes of these variations, from the
rive
A later from Ancona of the 15tli inst., the truth
arniseinsilla.l,iya,selinuromgwinddoei vdues.rsaiit'yd
of which is attested by the British Consul resident in that
place, states that on the night of the 13th of February, a Bri-
tish seaman, who was peaceably proceeding along the streets,
was
eldinagned tillseverelydre
the 12th inst., when he died. The man
wounded by sums' assassins, of which
woundsdeclared that he was unconscious of having given offence to
any person. All attempts to discover die murderers proved irr-
atta
heek
effectual. When the funeral of the poor man seas about to
take place, an order came from the Vicar-general that he, being
a Protestant, should not be buried by daylight, which is al-
lowed, it seems, to the Jews. This order was enforced under
the protest of tho Consul against it. These facts, of which we,
have been specially desired to. make public mention, exhibi,-,
certainly, an extraordinary state of things for an age and coun-
try pretending to be enlightened.
The General Stearn Navigation Company's British
ship, Wilberforce, Captain Stranack, arrived from Antwerp this
morning after a fine passage of nineteen hours.
Sir Frederick Hartwell and family, Lath James
May and family, and Captain Kean, R.N., were passengers on
Tuesday, in the General Steam Navigation Company's packet
Magnet, from Boulogne.
The Sardinian Government, wishing to encourage
the influx of company to the waters of Aix (in Savoy), has just
ordered that strangers going to that town shall not be required
to pay for the visa of their passports, either on the frontiers of
the Sanlinian States, or at Chambery, or Aix, provided they
stay at least forty-eight hours in the town.