The Sun.
London, England, 1842-11-30 00:00:00

MONEY MARKET and CITY NEWS

good deal of consternation was created
FROM TIIF, MORNING PAPERS
OF YESTERDAY.
Mr. B. J. Jordan, one of the clerks of
morning of the de-
o—junAocinetmlsetnotekearßlyankth. is
oast.
,unsdoeori
.213 The property he had.
bctaihanyp emp
his tethi
accountaileor
sniengaodhnifooSioene
:fr.
,0001. in Bank of Eng-
land in, the cashin-
, and 2001. each, which it
could be
g of cheques and bills
Y. Not returning to the
il
na
nbdi snPo°tsesse os possession
°ln,Cl.l'ol.
bank at the usual time, inquiries were on the instant
Mr. Jordan's absence.
gleaned satisfactorily to
These have been
made, but notithningon
followed up with the greatest activity since, and al-
though officers and instructions have been dispatched
to all quarters, not the least clue has as yet been ob-
tained to the flight of the fugitive. The Board of
Directors are unremitting in their attention to a
search. It is scarcely possible the delinquent will get
clear off with his booty, if due diligence be exercised
by the officers now on the scent; for, besides consi-
dering the difficulty such a young man wilt find—he
being described as only 25 years of age.—in the ex
change of 'notes of the amount named, to supply
himself with funds to effect an escape, he labours
under the additional disadvantage of having started,
whatever route he may have taken, but a few hours
before his principals became aware of his default. All
the outports are supplied .with full descriptions of his
appearance, dress, and gait so that, with the hand-
billS and the general publicity given to the fraud, it is
hoped he will not be able long to evade. detection. It
is stated, that he had been only a few months in the
employ of the bank, but had been uniformly regarded
as of steady and regular bnsiness habits.
Were it not that Joint-stock banks are excluded
from the privileges of the London clearing-house, this
delinquency could never have occurred. The private
bankers have always resisted the attempts on several
occasions made to allow the clearance of the cheques of
tf, ese rival establishments, on the ground, it is pre-
suwed, of securing inviolate to themselves one of the
chief' advantages accruing from the " crossing" of
cheques which, passing between each
in eh other, are never
paid except by the process of clearing. Thus the pre-
sent fraud has occurred consequence. of the clerk of
the Joint-stock Bank being obliged to be trusted with
the checks, though k, crossed," and receiving the
money in notes or gold over the counter. It would,
therefore, appear that one part of the banking interest
is protected, .while the other part is left to the mercy
and integrity of the servants they employ, having no
such sufficient protection as the clearing-house affords.
An opinion prevails pretty extensively among the
monied interest in the City
.that the approaching ses-
Sion of Parliament will bring forth some sweeping
measure for the final settlement of the currency ques-
ti on, and for giving the best protection to the public
t'natin • the case will admit, regard to banking affairs
generally. This opinion is founded upon a variety
-of causes, but more especially these—that the pre,
i ,seut system works as badly as possible—that an abun-

or deficient an -
characteilll-ofiffieUhltiid Kin" ion s
The more de mined -opposition to suet' ,a (tin
arise;'will as it-Amay safely be anticipated, on tliJ•side
of the Scotch bankers, who have always, acted in
concert in jesisting any.inTasion of their usages' with
a compactness and energy which it has been found
impossible; hitherto to overcome ; and hence the
changes introdUced into England and lieland could
never undergo n fair trial, while small paper issues
were allowed to prevail to so great • an extent on the'
other side" of the ,-Scottish border. - Whether they
have used the adVantages thus gained well or ill, it
is..certain that trade in the rest of the country has
been more or less injured by the facilities which these
paper issues liave atl'orded to the dealers and maim-
facturers of 'S'cotialid.
NotWithstlinding the boasted soundness 'and seen-'
rity of the Secitch system of banking, the belief is..
very prevalent: among the London bankers that' it is
hollow and unsafe'-at bottom '.:and must end one day
or other ,in sonia.great convulsion ;:.nay more, that
their own conviction. of the real unsoundness of their
foundation Makes thein combine so vigorously as they
do, in resisting all attempts 'for the establishment of a
pure convertible 'currency.
From statements recently made in a publication
called the Bankers' Circular, and adverted to under
this head, it appears that enormous credits are given
by the Scotch banks, and that their deposits bearing
interest amount to a very large sum. The propor-
tion that their liabilities' bear to their actual capital is
not easily to be gOt at, but they are probably five or
six times-as large. - It is generally supposed that
these deposits are invested in Government securities
to a certain extuat,s and the remainder in loans and
mortgages Of v4riou4 kinds. Should any material
depreciation take place, .through panic or otherwise,
in these investments,' whatever form they may have
taken, the whole
.cif "the capital May disappear, and
we haYe heaid this assigned as a reason why a
very caution's and long-sighted' Director in one of
the Scotch banks•did, several years ago, retire from
all share in-the:management. The: occurrence of a
war would seriously affect them with their Govern-
-
' ment securities, but they would be hit much more
fatally in those securities' upon which their advances
rare made at home ; for, supposing that a sound and
convertible paper currency is established .upon Go-
vernment security for the whole country, Scotland in-
cluded, the first consequence of which would be to
,compel them to call in or curtail a great portion of
,their advances, the question would then be how to
realise such securities as they hold in that new repre-
sentative of value. In regard to the depOsits with
.the banks, they would 'themselves bo,in a„situilar
difli-
culty
This is a test to which they must lie-siilijeeled; -as a
first step, probably, in a reform of the currency ;
and,
as they know with whom they will have to deal,
they would do well to be prepared for it.
11 At present there is no necessity for going further
into this subject. As we have stated, there is a belief
that the Peel Ministry will attempt to grapple with
it in the next session, and that if they carry it through
successfully, they will confer a public benefit greater
than any they have yet achieved.
The recent extension of the trade of Russia with
China, which has 'lately 'become such an object of
interest, is well described in a work recently trans-
' lated from the Russian of Dr. Pallas and M. Muller,
and entitled " The Conquest of Siberia." In this there
is a succinct account as well of the origin of the
commerce in question as of the extent to which it is
at present carried on. The commencement of all
connexion between the Russians and the Chinese
seems to have been towards the middle of the 17th
century, when the Russians, spreading eastward
through the territory on each side of the river
Amoor, and subduing several independent Ton-
gusian hordes, which the Chinese also de-
signed to conquer, the two countries were
brought into collision. Open hc.stilities broke
out in 1680, terminating in a itzgular treaty,
by which the progress of the Russian arms was
checked, 'and the foundations of a commerce were
laid, and which was signed in 1689. The Russians
lost by this treaty the navigation of the Amoor, but
obtained in return a permanent trade with the Chi-
nese. Under it much difficulties arose, and it was
not till 1728 that the treaty of Kiachta was signed,
which is the basis of all transactions carried on be-
tween the two countries at the present time. In that
treaty it was declared that a caravan might go to
Pekin every three years on condition that it should
not contain more than 200 persons, and directly this
caravan reached the frontier notice was to be sent to
the Chinese Court, which would d!spatch an officer to
meet the caravan, and conduct the persons to Pekin.
Kiachta and Tuemchaitu, both of which are situated
on the confines of Siberia, were appointed as places
of resort, where a trade to the subjects of both nations
was allowed.
The commerce, as it is now carried on, is entirely
a trade of barter, the Russians being prohibited to
export their coin, and the Chinese being unable to
take anything but bullion. The Chinese merchant
comes first to Kiachta, and examines the merchandise
he wants in the warehouse of the Russian trader, and
when the price is settled, the goods are sealed in the
presence of the Chinese. Both parties repair to Mai-
matschin, where the Russian chooses his commodi-
ties, and leaves behind a person of confidence, who
remains in the warehouse till the Russian good:, are
delivered, when he returns with the Chinese mer-
chandise to Kiachta.
Furs and peltry are the most important articles
of importation on the side of the Russians. Most
of these come from Siberia and the newly discovered
islands, but, as a sufficient supply is not thus obtained
for the Kiachta market, foreign furs are sent to St.
Petersburgh, and are thence dispatched to the fron-
tiers. Cloth, the coarser sort of which is manufac-
tured in Russia, while the finer sort principally comes
from England, Prussia, and France, is the second
article of exportation. Camlets, calimancoes, drug-
gets, white flannels;stuffs, velvets, coarse linen, Russia
leather, tanned hides, glass ware, hardware, tin, talc;
cattle, sporting dogs, provisions, and meal are the re-
maining articles, though meal is less imported than
formerly, from the Chinese having extended their
agriculture. On the other hand the Chinese supply
the Russians with silk, both manufactured and raw
(although the exportation of the latter is prohibited
under pain of death), cotton, teas, porcel, furni-
ture, toys, artificial flowers, tiger and panther skins,
rubies, colouring matters, canes, tobacco, rice, candies,
rhubarb, and musk.
The trade with China is found to be exceedingly
profitable to Russia, as she is able to dispose of sue
furs as are of so little value that they would not pay
the expense of carriage from the east of Siberia to
European Russia, while the richer furs, which are
sold very dear to China, would not find purchasers in
Russia on account of their expensiveness. They are
also able to obtain from China, in exchange for these
articles, which would otherwise be unprofitable,
many goods which they would be unable to purchase
at an advantageous rate from the European Powers.
The gross amount of the average trade, including
such articles as are smuggled, is estimated at
4,000,000 roubles; the calculation for the present
year, in which the contraband trade is omitted, giving
2,868,333 roubles.
Some of the selling brokers of 'colonial wools seem
to be of opinion that a sufficiently clear impression is
not produced by the account of the recent meetincr of
the trade. All that Mr. Simes intended to do at the
last meeting was to give a public statement of the
Int axing he attached to the second condition of the

The severe gales at the Cape of Good Hope about
...e end of the month of August last, the pitiful results
of which, in the destruction of property and the loss
of human life, have of late so painfully excited public
sympathy for the sufferers, extended, as might have
been supposed, to ships a ong way at sea. One me-
lancholy instance, resulting in the death of three per-
sons, part of the crew of the barque William Mitchell,
of Leith,] on her passage from Singapore to Antwerp,
is narrated in the following extract of a letter, from a
gentleman on board that vessel, dated Cape of Good
Hope, September 17 :
" We sailed from Singapore July 1 with a full
cargo of tin and pepper. The south-west monsoon
was blowing, and the current with it, so that we
could not make way against them. We were conse-
quently blown away up the China sea, and six days
after our first start we were not more than twenty-
five miles from Singapore. We came down the
Straits of Rhio, and after four weeks' hard work
we reached Java—having crossed over and beat
down the coast of Borneo, with the wind in our
teeth the whole way. On the Bth September, when
off Cape Languilles, the most southerly point of
Africa, and after a day nearly calm, a heavy sea got
up all of a sudden ; so heavy, that she was taking
water on deck and not a breath of wind. A person
experienced on this coast knows this to be the fore-
runner of gales. We had no sail taken in ere the
squall caught us at once, and laid us flat over before the
ship paid off. It struck us by the lee. We all turned to
to shorten sail ; got in all the light ones, and reefed the
topsails ; four hands laid out to furl the jibs, and were
just coming in, when she took such a pitch, that the
jib-boom broke short off at the cap, taking the fore-
top-gallant mast with it, what was worse, three of
our shipmates. We could do nothing to save them.
On the alarm being given, all were paralysed for a
moment—and the next all were at the quarter-boat ;
and, till, it was manned and half lowered, it never
struck any one that the boat must swamp the instant
it touched the water—so heavy a sea running. It was
unanimously agreed that it was of no use; and, besides,
all the bodies were out of sight—sunk, before any-
thing could be done. A muster was made immediately,
and we found we had lost three, namely, James Reid,
aged 48, able seaman ; Allan Lyndsay, aged 19, just
out of his apprenticeship ; and Robert Greig, aged 19,
an apprentice. The poor old man was the life of the
ship, and this was his first time round the Cape.
He has left a wife and a large family. Lyndsay was
the best lad in- the ship, both in moral character, and
in knowledge of seamanship. The last was also a
quiet, stout lad. We made an inventory of their
kits, and had them nailed up for behoof of their friends.
" This gale lasted three days. We hove-to all the
time under reduced maintopsail, and the ship behaved
well ; only that she was so desperately leaky that our
crew, even before our loss too small, were very much
fagged; for with one hand lashed at the wheel, only
three and an officer were at the pumps—and they
had to pump fully fifteen minutes every hour. I lent
a hand to the heavy work till we reached the Cape
here, when we anchored in Table Bay on the 14th of
September.
" In the newspapers you will read an account of
the disastrous work done by the gale (at the same
time we had it) in Table Bay. These are the most
severe gales which have been experienced here for 15
years back. It is a dismal sight to see the ribs and
trucks of a majestic, ship broken up.
" I have nothing to say to you at all about the
Cape. The climate is splendid. It is early spring at
present; temperature about 66 deg. F.• The medical
gentlemen complain • but you know that is a good
sign of the state of health generally."

ImMediately after the completion of the legal in-
strument granting this allowance, Count Bathyany
went to Paris for a short visit, which he is annually
in the habit of paying • and had been there but a few
days, when he received a letter from the lady com-
plaining of his absence, stating her determination not
le!..k;we avithoutwsonal protection, and hinting at her
disposition to fercfeirfo''fatet-IMifdaD:aeearfrf belec
any long& abroad. .''his letter was iiislaialy folloW
by another, stating that slie had finally made up her
mind, was, in fact, once again under the Noble
Viscount's patronage, and forbidding the 'Gaunt to
enter her dwelling again. Count Buthvany returned
to town to ascertain—no-Matter of difficulty—the truth
of all this, and to submit with as Much patience
as'pOsSible to his fate. Ile. Would then have been
Perfectly content to put .up • with his loss, both in
point of feeling and fortune,' if it had not been for
the heartless cotatici of. the -Nvetiran Ind -those she
Was mixed up. with :in their. aubsespieyrt'proceed-
lugs. The Connt Ip..canie the Object/of their perpetual •
ridicule—he
,was claaeed by theili under the refined
designation of ..:I+liat,;"-tinel looked upon as one whom
it was their pleasure lind.,:pastivie to e•a and one
whom it was a,very..ssjr`thing to' humbug. On the
part of the WoMah siefSelf,, it is impossible to use lan- •
guage that can too foxelbly designate, her very bad -
conduct; and as respects the parties who abetted her 2,
in it, they'll:tie:meted equally ungentlemanly, un- •
friendly, and Ifi-viOlation of all the received principlas
of society. Cliunt Bathyayi,V.' is a nobleman of very
high family, and dO,*thle English metropolis the
honour of selecting: 4.l:a.s.,the.place he prefers to, atll .
others, for the • expenditure of: his princely income. s. •
His hospitality- is • extended't mll whom he ler: -the
pleasure of keowing-The is liked Ig all'Who prize good •
manners, goodheartedligs, generosity. 'and teigh,;:itte-,
tegrity ; and takeee',.4ueldieetiotis shtiiia protect him
from the chicaqdreait, the woild' Ora all events of
those he knolka,74n- it), rather than invol-re Itiin in it. '
'When thelkied in qiieStion was agre.edVe a stipu-
lation was To tkieintroduction of a 4atie,taillie
effect, that ncipsr 'Lc*d. Chesterfield nOr 114 broftler
in-law, Mr. I.9trvstef Should be placed iu.a position *
to enter intojiitiigatiotkwidi one..who was their.parti-
cular friend,--tind.thaftheWpower, as trustees,
be one of me#43p9ib .lickt Of eecrsiou..lo .abeelute'aersiaaf
Wiwi of ihis•atfiderseanding, :•felpi/ Val.- the first
.. •
instalinenViltivainquiy,Apd.er liana w glue-a-a- •
(Count Bathjiany 'having .signified hiSatietermination - .
to resist its,-*lnent)24-ttirritiUS is'sue'd again him,'
at the suit of titelEiaid fhalirtiOslffethilittlth slightest 0.-
tice being • IVittifiut4,feeli4 of irritation, - •
Count ..LqrdiChi.sterfield that if the
exposure Nvlictir,w9ul4, Aepeaisarily follow Ails re-
sistance to this payment would be
,atallaMpleasent
to the family of the Noble' ~Lord, ot'.fo'hituse'lf, he
would cheerfully rescind his reaolutiep, effir, inveterate
as he felt against the weinae, .lie'WoUld give her. the
sum he had contracted for„- Lord Chetttrfield treated
this offer cavalierly, and. said, that the matter taring.
been placed- ire, the diaaida,4spo-*MOiatiftWaeetan a •
take its course. Notivittistandif ttaair aglinealeleep
-a •
afire of a- very kind offer, Coinit aihyan7Wal deter- --
mined to leave no stone unturned to carry it into
effect, and solicited the interference of Lord Rosslyn,
pledging himself to carry out any arrangement his
Lordship might enter into with the trustees. Lord
Rosslyn went to Chesterfield House to accomplish
this object, when Lord Chesterfield declined to see
him, but sent out to him young Forrester, of the Guards
(another of his brothers-in-law) * * to hear
anything he had to say—and upon receiving so marked
a slight, Lord Rosslyn left the house, and threw up
the office of mediator. Foiled in this, ount Bathyan v
made an offer through his counsel, an dernier moment,
to refer the matter to any legal authority, not inte-
rested in the matter—which gentlemanly proposal
was, after some deliberation, declined.
The matter, in consequence of this mismanage-
ment, has become one of notoriety, arising out of the
legal proceedings which Nelly Hohnes's noble trus-
tees have instituted; and in referring to the exposi-
tion, we are wing to believe that Lord Chesterfield
assented, in the first instance, to his nomination of
trustee, from that feeling of good nature he is at
all times ready to indulge in; but we view his
subsequent conduct in a very different light. 'With
a perfect knowledge of his co-trustee being his lady's
own brother * lie should have had more
respect for the feelings of his Countess, one of the most
charming women living, than to sacrifice them for any
consideration of a cominon profligate—he should, in fact,
have made every effort, instead of none, to keep so
discreditable a matter strictly private—and that he
has not so done, is a matter to us of very great regret.
But blameable as we really feel the Noble Lord's con-
duct to be, it is lightly so indeed, compared with that of
Mr. CharlesTorrester * * * or, to that of Lord
Maidstone, who unconcernedly hands over his mis-
tress to his friend, knows that his friend has paid her
debts, incurred while she was under his Lordship's pro-
tection! urges her on to obtain this settlement, and
when she has obtained it, takes her back again, on her
separation from the man she has so injured.
In thus, therefore, reprobating the proceedings of
the parties herein referred to, we cannot but uphold
those of Count Bathyany, who has been victimised
in the whole business. We decline at present agitat-
ing the question attempted to be entertained of a mar-
riage which was sought to be effected—there may be
an occasion when it will be necessary to refer to it ;
but without entering thereon, we cannot sufficiently
condemn the conduct which has been adopted towards
Count Bathyany, nor sufficiently eulogise the gene-
rous and feeling manner in which the Count has
acted throughout.

*.,.* Since the above was written, we find that
Nelly's solicitors have been instructed to withdraw
the record, and thus the matter falls to the ground.
A more complete vindication of Count Bathyanv's
bearing in the whole business could not possibly be
effected ; but a question will naturally arise, if this
measure has been adopted at the eleventh hour, why
was it resisted at the first? We subjoin the copy of
a letter Which has been addressed to the Count's soli-
citors by those of the plaintiff, simply observing that,
as the deed expressly states Lord Chesterfield is not
" compellable,' the termination of the letter is a mere
subterfuge :
" 24th November, 1842.
" Gentlemen,—We were instructed by Mrs. Suter to
commence the proceedings against your client, under-
standing that the trustees would consent to any ne-
cessary proceedings for the recovery of the anntwity due
under the deed prepared by your client's solicitors.
We had no communication with Lord Chesterfield, or
with his solicitors, until the bill had been filed; and
as his solicitor objects to our proceeding further for
the present, it is unnecessary for us to make any ap-
pointment with our client ; but we apprehend Lord
Chesterfield, as a trustee, is compellable to proceed.
" To, &c. &c. We are," &c. &c.

AN OLD IN.—We have before us the Boston
Gazette for Jan. 29, 1739, almost 104 years old. It
was printed by S. Kneeland and Green, at the print-
ing-house in Queen-street (Boston), over against the
prison. Published by John Boy dell. The Great and
General Court of Assembly of that Province had just
been adjourned to the 19th of April next ensuing.
Among the Acts passed was one more " effectually to
secure the duty on the importation of negroes," and
another "for the relief of and to prevent the oppression
of debtors." In an advertisement relating to the estate
of Samuel llendley, of Charlestown, it is announced
that " there are two very likely negro men to be sold
on credit. with good security, to he seen at said house."
The dimensions of the paper, when opened, are about
16 inches by 24 ; consequently, each page is 8 inches
by 12. It is No. 993.--New York Journal.
MISSIONS TO CIIINA.—The French papers state
that Roman Catholic missionaries, taking advantage
of the opening of five ports to British commerce, and
of the re-establishment of peace, will proceed to China
forthwith for the promulgation of their faith.

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