The Sun.
London, England, 1842-09-15 00:00:00

THE TOWN AND CASTLE OF
STIRLING.

LUNDIE (to Cressingham)—l would advise
Your prudence not to venture by that passage.
The bridge is wood ; so old—and full of danger:
Besides, too narrow for your numerous army,
Whose moving weight may strain it ere the half
Attain the other side.

The bridge of Stirling is the most memorable spot,
in Scotland. It was here that Wallace, by his valour
and fortune, freed his country from the claims of a
superior, and the Scottish people from the oppression
of strangers. The facts as related by the annalists
are as follow :—Warenne, the English commander,
who wished to avoid a general action with the Scots,
tried, even by negotiation, to induce Wallace to
lay down his arms. The Scottish chief con-
temned submission, and answered in the lan
guage of defiance, "We come not to treat,
but to set Scotland free." So bold a defiance
made the English army impatient to be led into ac-
tion. Warenne hesitated, but Cressingham, the
treasurer, cried out, " Why waste we the King's
treasures, by protracting the war : let us fight as the
best economy." A narrow bridge—the bridge of
Stirling—alone divided the hostile armies. Prudence,
suggested, that a ford should be sought, as the safest
passage over the Forth. Cressingham, however, blindly
insisted in leading the army along this dangerous
defile. The bravery of the English induced them to
follow a leader, who showed, by his temerity, that he
was unfit to conduct spirited men. Before one- half
of this misguided army could form, after defiling
from the bridge, Wallace charged them with as much
creiu ct, as fierceness. Cressingham met his merited
fate : thousands of his devoted followers fell
on the field, or perished in the river. Panic
seized that portion of the English forces, which
had not felt the swords of the Scots : the fugitives
burnt the bridge, built of materials from the neigh-
bouring Torwood, and fled to Berwick, before they
considered themselves safe. The victory of Stirling
put into the possession of the true owners the castle of
Dundee, and other strongholds, with Berwick.—
Chaltner s Caledonia, vol. i. p. 660-1.
The ancient seal of the town of Stirling which may
be seen in Astle's work on the " Scot. Seals," seems to
commemorate this important victory. On the obverse
of it is to be seen the wooden bridge, on which stands
a crucifix ; the south side of the bridge has soldiers
upon it, with their bows, the. characteristic weapon
of the English, who are attempting to pass ; on the
northern side are soldiers with spears, .the national
weapon of the Scots, who defend the passage. The
legend is, " Hic armis Bruti, Scoti stant hic cruce
tuti "—a plain allusion to the safety of the Church and
State, resulting from the valour and victory of
Wallace.
We cannot refrain from noticing that, despite the
glory which Wallace solely obtained on this important
occasion by his own powers, that in a copy of pro-
tection which he and Moray, as Commanders of the
forces, gave to the Prior of Hexhildesham, that Wal-
lace modestly allowed the name of Moray to stand
before his own, as the leader of the Scottish army.—
(llemingford, i. p. 135.)
The foundation of Stirling Castle is a fact of past
history, which no antiquarian has satisfactorily traced.
Boethius, if he may be credited on this point, states
it to have been a place of great strength in the middle
of the ninth century. The Romans had a camp and
a military way on the west side, which is by some
adjudged to have been their Alauna.
Stirling is a miniature resemblance of Edinburgh,
built on a rock of the same form with that on which
the capital of North Britain is placed, with a strong for-
tress on the summit, impending over a steep precipice.
In the interior of the Castle, stands the Palace,
built by James V., a Prince much attached to the
arts, as appears by his buildings here and at Falkland.
This pile is large, and of square form, ornamented
on three sides with pillars, resting on grotesque
figures, jutting from the wall; on the top of each
pillar rests a fanciful statue. Two rooms, called the
Queen'sfand the Nursery are large, and the roofs, of
wood, well carved. A closet also is shown, noted for
the murder of William, Earl of Douglas, in 1452,
trepanned here by a safe conduct from James 11.
This Nobleman, too potent for legal execution, had
entered-into associations injurious to his Prince, who
commanded him to rescind the offensive alliance, and,
on refusal, stabbed the Earl with. his own hand. In
revenge, the friends of Douglas instantly burned the
town. The Parliament House is a vast room, 120
feet long, with a timbered roof.
From the top of the Castle is by far the finest view
in Scotland ; to the east is a east plain, rich in corn.
adorned with woods, and watered by the river Forth,
whose meanders are, before it reaches the sea, so fre-
quent and so large, as to form a multitude of most
beautiful peninsulas ; for in many parts the windings
approximate so closely as,to leave only a small isthmus
of a few yards. An old abbey, situated in the plain,
with the country as far as Edinburgh, a view of
Alloa, Clackmannan, Falkirk, and the Frith of Forth
are to be seen. On the north lie the Ochil hills, and
the moor where the battle of Dumblain was fought;
to the west the strath of Menteith, as fertile as the
eastern plain, and terminated by the Highland moun-
tains, among which the summit of Ben Lomond is
very conspicuous.—Pennant's Tour, Vol. 111., p. 226.
Stirling has experienced many sieges and other ca-
lamities of war. In 1175 it was delivered by William
to the English, with several other places, as a security
for his acknowledgment that he held the crown of
Scotland from the Kings of England. "An inglo-
rious cession," says Major " extorted by his unfor-
tunate captivity. But Richard 1., the succeeding
Monarch, restored them."—Major, lib. iv., p. 135.
During the wars between the English and Scots
under Bruce it often changed masters. In 1299 it
was in possession of Edward 1., whose affairs at this
period were so bad in Scotland, that he was obliged
to send its governor an order to surrender. But the
year following, he retook it, after a most gallant de-
fence by William Oliphant, who gave it up on terms
which Were afterwards ill-observed by the conqueror.
In 1303, it was again taken by the Scots, under
Lord John Sowles : Oliphant refused the command,
and in the next year sustained a second siege. It
was battered most furiously by the artillery of the
age, which cast stones of two hundred weight against
the walls, and made vast breaches. At length, when
the garrison was reduced to a very few, the brave
governor submitted, and was received into mercy.
It was the siege of Stirling Castle in June, 1314,
by the Scottish army, that occasioned the movement
of the English troops to march to its relief,—a move-
ment which brought both sides to an engagement,
known as the celebrated battle of Bannockburn.
, Robert Bruce headed the Scottish force, and Edward
the Second the English. This battle decided the fate
of Scotland, and seated the former firmly on the
throne. Stirling is still further renowned for a battle
fought at the same place in 1488, between King
James 111. and his subjects, who marched under his
son, in opposition to him. The King, who escaped
from the field, was murdered in a mill close to the
village, by a real or pretended priest, taking his con-
fession.

During the wars of Edward 111. it was reciprocally
taken and retaken ; the last time in 1341. Other
great events connected with it have occurred, but the
last was the memorable siege in the winter of 1746.
when the gallant and aged officer, General Blakeney,
baffled all the efforts of the rebels to reduce this im-
portant place.
Stirling, or Sterling, says Boethius, the before cited
authority, gave name to sterling money, because
Osbert, a Saxon Prince, after the overthrow of the
t...'cots, established a mint here. Others, however,
doubt this derivation, and state the term to be derived
from the merchants of the Easterlings. The town,
also, was anciently called Striveling, as is said, from
the frequency of strifes or conflicts in the neighbour-
hood, and from this old name the present is affirmed
to have been formed.—Pceth. lib. v., p. 204.
Among the houses of the nobility in Stirling, the
most sumptuous was that of the Earl of Mar, begun
by the Regent, but never finished; the front is orna-
mented with the arms of the family, and a quantity 01
sculpture. It is said to have been built from the
ruins of Cambus-Kenneth, the ancient church of the
St. Augustine order; and that being reproached with
the sacrilege, the builder directed these words, yet
extant, to be put over the gate—"Esspy. Speik.
Furth. I cair nothe."
Near Stirling Castle are Edmonston's walks, cut
through a little wocd, on the steeps. Beneath, on
the flat, are to be seen the vestiges of the gardens be-

longing to the palace, called the IKing's Knot ;" above
the wa ks is the " Ladies-hill," a spot where the
benuties of former times sat to witness the knights
exhibit their vigour and address in the tilts-and tour-
naments, performed in a hollow between this spot
and the castle.

MONEY MARKET and CITY NEWS,
CITY, WEDNESDAY EVENING.

FROM THE MORNING PAPERS OF THIS DAY.
POST.—With an exceedingly limited business in
both markets the prices of stocks were once more a
little heavy, particularly in the foreign house, where
the operations entered into were for the most part
with a view to the state of the account, the settlement
of which is fixed for the 16th instant. The Spanisa
fuLds had a very depressed appearance, and from this
circumstance, rather than from any other, is derived
the feature of heaviness that prevailed, to a greater
or less extent, throughout, as there was in reality a
mere nothing doing in any other description of foreign
stock, and very little even in these. The Bank broker
made a sale of Three per Cent. Reduced Stock for
the Consol account, the amount sold being about
50,0001. The markets were probably influenced by
this sale, coupled with which was a report of the Di-
rectors of the Bank of England, having it in contem-
plation to make a further reduction in their rate of
dividend—namely, from seven to six per cent. per
annum, a report which, however, was not heard to-
day for the first time, for something to the same effect
was whispered about at least a week ago.
The Liverpool letters received this morning an-
nounce the failure of an extensive cotton dealer at
Manchester. No estimate is given of the general
liabilities of the party, but they are probably very
serious, as it appears he is indebted to the Bank of
Manchester alone, of which establishment he was a

leading Director, to the amount of 64,0001. The
views of this journal on the management of joint-stock
banks are sufficiently well-known. Some of the number
deserve praise no doubt, hut in the case of the majority
of them, and this must be acknowledged by the most
strenuous upholders of it, is the tendency of the sys-
tem—there is too great a disposition to afford an un-
due credit to Directors. The Globe, in noticing this
failure, indulges in comments on the practice hardly
to have been looked for in a paper of the class to
which it belongs. After stating that, of the sum due
from the insolvent to the bank of Manchester, the

institution will most likely lose one-half, as the secu-
rities held by it are not sufficient to cover the sums
advanced, the City correspondent of the journal al-

' luded to says : -
" This is another proof of the vicious principle
adopted by the Lancashire Joint-stock Banks, of ad-
vancing largely to the Directors and their friends
without obtaining adequate security. It has ruined
many of them, and cannot fail to bring down all
others which follow the bad example."
It is to be stated, in fairness to the Directors of the
Bank of Manchester, that at some of their more recent
meetings, the error of the course originally and for
some time pursued, was acknowledged, and a determi-
nation expressed to act, for the future, upon a sounder
and safer policy—a policy which is by this time, it
may be hoped, in operation. The debt of the in-
dividual who has just suspended payment is, it is
presumed, one of long standing, and, in that case, it
will form no criterion by which to judge of the pre-
sent mode of doing business. Mr. Richard Roberts is
the party named.
CHRONICLE.—A failure is announced this morn-
ing, that of Messrs. Roberts and Co., of Manchester,
one of the partners of which was for some time a
Director of the Bank of Manchester, and it is under-
stood that the house stands indebted to that bank in
as much as 60,0001. The losses sustained by the
Bank of Manchester are well known ; but the present
manager is also well known to be possessed of great
practical knowledge in monetary affairs, and to be
peculiarly well-fitted for the arduous task of placing
the important concerns which he superintends in a
healthy and improved condition. The Bank of Man-
chester has long since ceased to be a bank of issue,
and its liabilities have been in a constant train of
reduction for some time past.
HERALD..—The failure of Mr. Richard Roberts.,
a cotton dealer in Manchester, and one of the Direc-
tors of the Bank of Manchester, is announced to-day
by the letters from that town. The full extent of the
liabilities of the concern is not stated, but as the bank
in which he was a Director appears to have been fa-
voured with his custom to such an amount as upon
balance now to leave it creditor for, as mentioned, no
less than 66,000/., it may be presumed to be a heavy
concern altogether. The bank of Manchester seems
to have had an extraordinary run of business—
amongst its own Directors at least—for reports were
current some time ago that one or more other Di-
rectors besides Mr. Roberts and Mr. Heron were on
the books for very large sums, which they had obliged
the bank by borrowing upon bills discounted or on
loan. It is asserted that, in respect of the " indebted-
_ _

ness" of Mr. Richard Roberts, the bank holds
collateral securities which will cover one-half of the
loss, but this is a fact which remains to be proved,
and if proved would be a piece of good fortune to
which it has been little accustomed. It is difficult to
understand what could be the pretensions of a trades-
man of standing so moderate and of capital in his
best days so comparatively limited as Mr. Richard
Roberts to a credit at the bank of about 100,0001.,
for at one time it is stated that such was the balance
against him for advances. This failure with the
enormous bank bad debts accompanying it may
be accepted as additional evidence, if any could
indeed be wanting, of the vicious system of trade
pursued in Manchester during the ten years pre-
ceding 1840, which corresponds with tolerable exact-
ness to the first creation and subsequent inordinate
extension of joint-stock banks. The facilities of
credit and money opened to all corners with
such magnificent prodigality under the brilliant, though
not long-lived, reign of the new banking system, na-
turally led to the prevalence of overtrading and specu-
lation in ratio proportionally extravagant, as the
proofs have been since, and are still, in existence in
the shape of countless new factories erected, filled
with machinery and now at a stand-still, unfortunate
operatives out of work by tens of thousands, and
finally in the Gazette teeming with bankrupt traders
and speculators. Mr. Richard Roberts was originally
a dealer in raw cotton, and perhaps is so still, al-
though it may be inferred from his large deficit with
the bank that he must have been engaged in other
branches of trade or speculation also, for the means of
carrying on which his position as a Director and his
credit at the bank afforded him every possible advan-
tage, so far as an unlimited command of money.
TIMES.—The funds have not mantained their
usual firmness to-day, but no especial cause is assigned
for the re-action, which was to the extent of a trifle
more than an eighth per cent. In some quarters it
appears to have been considered that the failure at
Manchester, which is said to involve a heavy amount
of liability, is an event which might probably have
had some influence on the market. On mature re-
flection, however, this occurrence can hardly be
deemed of sufficient importance to have created this
depression, since, if any effect at all were likely to
follow such a circumstance, the probability is that it
would have been much more severely felt. The gene-
ral dulness of business will undoubtedly be found to
be the true cause of the slight decline.
Official accounts are stated to have arrived of the
shipment of cotton and indigo for the benefit of the
Guatemala bondholders. The proceeds are estimated
at $112,000.

The advices from Manchester to-day brought the
news of the failure of Mr. Richard Roberts, who, it
is said, is indebted to the amount of about 60,0001.
The Bank of Manchester is understood to be the
chief creditor.

Chance vessels have brought advices from Rio de
Janeiro to the 2d of August, and from Buenos Ayres
to the 3d of July. They furnish but a small quota
of information, the arrivals of the earlier part of the
week having absorbed all facts of interest. Notwith-
standing the accounts from the interior of Rio were
more pacific, the exchange was on the decline, the
last price quoted being 24i', and the local stock 69
ex div. The accounts from Buenos Ayres aro of the
least interest imaginable. There was nothing new
but tho completion of a treaty of amity, commerce,
and navigation, by Mr. Mandeville, between England
and the Republic of the Uruguay. The number of
vessels in port was 187, of which 46 were British.
Excl-ange continued as before, 3 1-16 d. per paper
dollar.

-- - -- Private letters from Cadiz represent the prospect of
any commercial treaty between England and Spain
as lamentably distant, though there is no doubt of the
benefit it would confer on the latter country.
" Beason," says one of the letters, " does not rule
in Spain ;" and while Andalusia in her wine interest
alone wishes for the treaty, Valencia, that has a far
greater interest in trade with England, and Arragon,
that has not a particle of manufacture to protect, join
the Catal. ns in hostility to this country, and will suc-
ceed in p. eventing the completion of the treaty.
SUN.—The prices of the Funds left off this afternoon
New, 49 51 p -
:t shade lower than those in the morning, but still
without a positive decline, Consols being I-.12-g- 921 for
yesterday ; Dutch
Money, and 92i 93 for the Account; India Stock,4'49
per Cents., 2511 i,
o; Exchequer esgottceurrli
t3iiel Bills, ,reomhal
remained
el
(153 a
s;
Two-and-a-Half; 52,i 52'1; the I'ite
of Mexicaail: -B-roliads..
102,3 ; Belgian, 102 103; Danish, 83 8.4 . n .d" -R10,4
zilian, 671 68i. The quotations
were 351 351-1 _ _

The Share Market was very flat, and Great Wes-
tern, South Western, and Northern and Eastern were
ather lower; London and Birmingham were 180 182 ;
Pirmingham and Gloucester, 42 44 ; Great Western,
61 82 ; the Half Shares,
581 591 per Share; South
Western, 57i 58i ; Nor
th Midland 56 58 ; the
New Shares, 27 28; South Eastern and Dover,. 22
22.1 ; Eastern Counties, 8i- Bft ; Northern and Last-
nn,. 361 371; Black wall, 7 7i ; and Brighton, 33k
331 per share.
The quotations upon the Bonds were—Cob:aft'

bian, 204 21 ; Peruvian, 15 16 ; Portuguese Five
per Cents., 35/ 35;1; the Three per Cents., 204 211;
Spanish Five per Cents., 161 161; and the Three
per Cents., 20i 21.