The Sun.
London, England, 1829-10-09 00:00:00

COVENT-GARDEN THEATRE.

, The. Clandestine Marrive %Iv performed at this
Theatre last night, fur the purpose of intro.luciug a
Mr. JONES, of tl:e Edinburgh Theatre upon the
London stage. Mr. JONES, we understand, has
acquired considet able fame on the Northern boards,
and his performance last night proves that his merits
were justly app: eci,ted. He appeared as Lord
Ogleby, and though the character has been so lone
considered as the exclusive property of Mr. W.
FARREN, yet tl:e gentlemanly demeanour, and mi-
ginal genius of Mr. JONES, impressed the audience so
favourably, that every successive scene only served to
increase the applause with which Mr. JoNEs was
cheered throughout the play. A Morning contempo-
rary very justly observes that a more successful first
appearance and performance it had not often had the
pleasure of witnessing, and we agree with it. In
age, height, and form, Mr. JONES seems to be the
very man whom the writer of the comedy saw in
his mind's eye, as the representative of the accom-
plished and sentimental, yet vain and frivolous dandy
nobleman. The very slenderness of his shape, the
stoop in his shoulders, and the mincing gait—all
affected, of course—seemed quite natural and easy,
and were exactly what suited our notion of this
character. Mr. JONES was received with moderate
applause on coming out in the second act, but it
became rapturous before the toilet scene was con-
eluded. To a delicate voice, and dignified, mea-
sured expression, he adds a clearness of enunciation
that makes every word and syllable he utters audi-
ble and intelligible in every part of the house. This,
even in itself, is no small merit in a performer.
The whole of the- fourth act—the interview with
Fanny, the mistaking of her attachment to Love-
well for a tender regard for himself, the vanity
of the old Ileau,and his self-satisfaction in supposing
he had made such a conquest, and the noble deter-
mination to share his title and his fortune with her—
were all admirably acted. There was no effort to be
great, no searching after clap-traps, no attempt to
caricature—but every thing was done, every move-
ment, every action was conducted, and every sen-
tence expressed, most easily and most naturally; in
such a way, that no man need blush for the doating
Lord. The most difficult scene is the last, in which
his Lordship discovers how much he deceived him-
self; even in this Mr. JoNEs did not let his dignity
sink, but sustained the character to the end such as
he pictured it from the beginning—forgiving, disin-
terested, and sincere, always atoning for his vanity
by the elegance of his manners, never allowing the
hang of the superannuated man of fashion to sully
the honour or the virtue of the high-born man of
sentiment. Miss ELLEN TREE played the part of
Fanny Sterling with good taste and correct feeling.
The other characters of the drama were well sup-
ported, most particularly Mrs. Heidelberg, by Mrs.
DAVENPORT. After the Comedy, M. DROUET, who
has been long known as a first-rate flute player, per-
performed on that sweet instrument the " Hunts-
man's Chorus" from Der Freigehutz, with variations
arranged by himself. He received, as he deserved,
much applause for the neatness of his execution. The
musical romance of The Devil's Elixir followed.

NEW REGULATIONS RESPECTING THE

PORT OF LONDON.

The new by-laws, rules, orders, and regulations re-
lating to the Port of Llndon, which received the ap-
probation of the Court of Common Council and the
Eider Brethers of the Trinity House, have, within
the last few days, been allowed and approved of by
the Chief Justice of the Common Pleas, in the ab-
sence of the Lord Chancellor, and are now in full
operation. The day and night duty of the Harbour-
masters has been strictly defined. Formerly the
Harbour-masters were in the habit of resisting the
authority of the Port Committee, having been ap-
pointed by the Lord Mayor to their situations, and
no specific arrangements having been made to con-
trout them ; but, by the new regulations, an effec-
tual authority has been established. Such of the
Harbour-masters as shall from time to time, be ap-
pointed the principal or superintending Harbour-
master shall have the sole and entire controul of the
executive part of the Harbour service, to enforce the
due observance of the by-laws and other regulations
which rosy, from time to time be established, and
shall execute all other matters which shall be ordered
by the Lord Mayor, Aldermen, and Common Court-
or any Committee appointed by them. The
Harbour-masters are required to obey the orders
which the superintending Harbour-master may think
it necessary to issue for the effectual performance of
the Harbour-service ; and the latter is authorised to I

issue orders independently of the meeting of the
other Harbour-masters. He iF, kowever, to be
responsible for issuing orders which shall not be in
accordance with the spirit and intent of the Act of
Parliament, and the by-laws and regulations esta-
blished under its authority.

The day duty of the Harbour-masters, of whom
there are four instead of five, as formerly constituted,
is as foLows :—One of the three, under the super-
intending Harbour-master, is to continue upon duty
during the whole of the flood tide, and the first two
hours after high water, and is, during that time, to
have the superintendence and direction of the navi-
gating, placing, mooring, unmooring, and removing
all ships and vessels, steam-boats, lighters, and craft
in the Thames between London-bridge and Duke's-
shore. The second Harbour-master is to act with
similar power from Duke's-shore to Rockwall. The
third Harbour-master is, on the day on which the
two first are on duty to be off duty, and to take his
regular turn.
The night duty is this—One of the three Har-
bour-masters is, on the first night, to continue en
duty for the last two hours of the flood,and first hour
of the ebb tides, and is, during that time, to go to
the lower station, to stop ships, vessels, and steam-
boats, if necessary, or to direct them where to go;
and, when no more ships, vessels, or steam-boats are
likely to pass Blackwell, be is to go up with the last
of the tide, and see how the ships, &c. have taken
their berths. The other two Harbour-masters are to
take their turns.

Strict impartiality in the mooring, unmooring,
&c. of ships, is required of the Harbour-masters.
They are not to receive any gratuity, fee, or reward,
under any pretence, from any person, for any thing
done or omitted to be done by them, in the discharge
of their duties. Buoys are to be placed, marking
the passage to be kept clear in the river, and any
vessel injuring those buoys will be subject to a pe-
nalty of ten pounds. For the purpose of preset ring
a free and unobstructed passage through the lower
and upper Pools of such a sufficient width, that
ships, vessels, and steam-boats, of large dimensions
and draught of water, may navigate up and down,
without impediment and risk, the width of the
passage is to be not less than 300 feet. Every barge,
lighter, or other craft is to pass along the river singly
and separately, under the penalty of forty shillings.
The other arrangements comprehend a great va-
riety of directions as to the mooring, unmooring, and
removing of vessels, and the whole are said to be
extremely well calculated to improve the state of
the river. • The ihip-owners all approve of the new
plan, which is calculated to do great service to the
navigation, and to give security to property.

A Russian's prayers are generally very short,
and consist frequently only of the two words •° Gospodi
Pornolui," (Lord have mercy upon us!) which are sung
with•beautiful tlicct in most of their chapels.

ASSEMBLING OF PARLIAMENT.—We arc
assured, front a very high quarter, that Patliament will
assemble in November. A main object is said to be to
appoint a responsible officer to read those documents of
which it is necessary that his MAJESTY should have cog-
nizance, hut which his infirmities render hint at present
unable to peruse. The currency question, too, presses for
legislative consideration; and it is stated that Ministers
intend to submit it to men of all parties fur dispassionate
inquiry. De the object what it may, the public may rest
assured that at present a very early assembling of Parlia-
ment is 'volved upon,—Dablin Aforn;ng /register.

TO SAMUEL DREW,. ESQ., GOVERNOR

OF TILE BANK OF ENGLAND.

was present at the General Court held
last month for the purpse of declaring a dividend
on the capital stork of the Bank of England, and
could not but feu' for the very ar.-kward situaCott in
which you were pl:med; lie:wise, Sir, many of the
,tntiments uttered by !ou on that occasion must
have been condemned by your own heart, and by
the respectable body of Directors who surrounded
von. The demand of the worthy Proprietor, Mr.
Young, was reasonable, and it ought to have been
acceded to. lie, as a partner in the concern, de-
sired to know the extent of the liabilities of his
partnership, and he was referred by you to the pub-
lished atroun- of the Bank-notes in circulation.

This, Sir, was a subtetfiige which you ought not
to have resorted to, because it did not furnish an an-
swer to the question asked; and when you were
further pressed for the amount of the balances held
by the Company as bankers, you excused yourself
by saying that it would be an improper breach of
confidence to expose the names of parties who had
placed their cash in your hands, and would ine-
vitably be attended with serious inconvenience to
the depositors. Here, Sir, you had again recourse
to evasion. The names were not demanded; no
exposures were desired beyond the amount of tho‘e
balances; and that amcunt, I humbly contend,
ought to have been, and might have been, given,
without betraying any improper secrets as fir as re-
gards the public who have balances in the Bank.
Your next evasion was, that you had no objection
to expose the balances, but the Proprietors had at
a former Court negatived a motion to the same ef-
fect. Now, Sir, the decision of a former Court had
nothing to do with the Court which was then being
held; and if you really had no objection to give the
amount desired, it would have been no more than
fair towards the worthy Proprietor to have stated as
much, and you would easily have obtained permis-
sion to have made the disclosure. And further,
when it was objected by another Proprietor to con-
firm the dividend recommended by the Court of Di-
rectors, because that recommendation was not ac-
companied by the requisite information as to profit,
or as to the fund whence that dividend was to be
taken, you justified your act by a truly aatideluvian
mode of reasoniog,—namely, that the proposal was
put," not only in the exact manner, but also in the
exact words, that had been used for upwards of 125
years." Now I nun truly at aloes to know what
value to set upon such rat assertion. One or two
things have been altered fur the better since 125
years, and the situation of the Bank has undergone
a most material change, which calls for a material
change in the conduct of the Propric tors; and I can
easily foresee that, ere long, you will be compelled
to undergo a material change in the sentiments ex-
pressed by you at the last Court.
I will, with your leave, Sir, enter a little into the
views of 3,1 r. Young, and also go a little further, in
order to show what questions you may probably ex-
pect at a future Court.
The amount of Bank-notes in circulation
is, I believe, about
The Bank-notes paid into the Bark by
private individuals, and not drawn out again,
may perhaps be taken at from 5,000,000/.

to 7,000,0001. (these may be cailed
bel,l as bankers to tli;! public, which a:e
liable to be drawn for on demand), sty.i-

... 5.000,000

together..... -C21,000,000
Now, it is quite dear, diet although the Bank-
Notes in circulation do not amount to more than
19,000,00 W., yet the liabilities of the Rink are in
fact 21,000,0001., and that the published circulation
is short by 25 per cent. of the actual demand to
which the Bank is liable. lam aware that against
this sum there is an immediate set-off of the bills
discounted and not become due : if the amount of
those bills may be taken at 2,000,0001., then the
cash-liabilities of the Bank would be reduced to
22,000,0001.; and if, us a merchant, I was stating
my own case, I should next most anxiously examine
my coffers, and see whether their contents were equal
to.the demand against tne; and this probably was the
intention of Mr. Young. There is no question us
to the solvency of the Bank, or as to the flattering
appearance of its balance-sheet; but the question is,
whether the debts due to the Bank are as demand-
able and as arbitrary as the claims against it formed
by Bank-notes. If Mr. Young had gone thus far,
it does Pot follow that he would have stated either
that the :Bank should at all times have bullion in
their coffers to the exact amount of their Bank-notes
and other liabilities, or that such a circumstance as
a simultaneous coming-in for payment of all their
notes could take place, but both he and the Propri-
etors at large would have the means ofjudgieg whe-
ther the situation of the Barak were safe or not, and of
aiding the Directors by their advice and assistance if
necessary. This, however, is for the present denied
them. Now, Sir, asking your pardon for calling in
question the wisdom of following the same course in
our present situation, which was adopted in the very
different situation of the Bank 125 years ago, I will
take the liberty of showing one very material feature
which renders our present situation far more peril-
ous than it was at the commencement of the last
century, namely, the establishment of the branch
banks, by which the circulation of Bank paper is be-
come so much more general than it was previously
to the new and very quevionaWe system of country
establishments. A repetition of the dreadful scenes
which we too well remember in 1825 will not, we
trust, take place; but partial distrust and panic, in
ouch a commercial country as this, always have been,
and still will be, matters of periodical recurrence. It
is therefore reasonable for every partner in your con-
cern to ascertain as nearly as possible what the situ-
ation of the Bank would be in case such a public
calamity were to happen. In the former case of
panic, the holder of a country bank-note was only
anxious to obtain a Bark of England note in ex-
change, with which he felt himself secure, and the
13ank of England had no demand made upon it for
its coin ; but what would be the effect of panic now?
All the Bank-notes circulated in the country would
soon appear at the Bank in London to be exchanged
for the current coin. The holders of notes in Lan-
don would be equally anxious to secure themselves,
and the private bankers, anticipating a similar nppli-
cation from their customers on account of their ba-
lances due, would also provide themselves with large
sums of coin ; and no doubt, in over-caution, with a
greater supply than would be required. These
Bank balances also, the amount of which is so stu-
diously withheld from the ProprietOrs, would
speedily be withdrawn ; and, allow me to ask, Sir,
what would be the situation of the Bank then ? A
private banker, who is really solvent, is always pre-
pared to pay, within reasonable time, the whole of
his customers' .balances, which constitute all his
liabilities. I have said " within reasonable time,"
but I may safely wave that reserve, and say, that he
is at all times ready with Ida resources to meet sucha
claim, which, from the experience of 182.5, he knows
may assail trim. Now, Sir, is the Bank in the same
situation ? This is a question of some interest to a
Proprietor; and it is not likely that he will be satis-
fied with an assurance that you are acting as our fore-
fathers did 125 years ago, and that therefore all
questions are unneceeaary, end be:ray a meddling
spirit. Had our forefathers 22 mil:ions or 25 mil-
lions of notes in circulation, and coffers in the same
state as ours are now, to meet such a demand ? Had
they opened a widely-extended trading concern
(supposed to be err unprofitable one), such as the
branch banks, through the principal counties
in England,? Had dray issued millions of Bank-
notes cn stock and mortgages, and rendered them.
selves liable to pay on demand such amount in bul-
lion, having only received in lieu a piece of parch-
ment, and an entry to their el edit in the Batik books?
The answer to all these questions is, " No, they
were not so unwise!" And vet, Sir, you deetn it
improper to inform the Proprietors whether these,
your own acts, have benefited or injured the Com-
pany. The questions of the Proprietors will, how-
ever, prove irresistible, and I trust you will be pre-
pared to meet them at your next half-yearly Court

in March, 18SO. I will not pretend to guess at die
amount of bullion or cash in your coffers; it has
b:.en stated at ramous sums, from seven to twelve
; but whatever the srme of that amount
taay it c;:na• tbe non!: i aptoved by any exertion
tr,c 134):k is ,anabie of making. It is true
:hat buliion may at al. rims: la- pnteltawd, but it
aaist ba paid for iu Bank-notes, awl these notes so
put in circulation ili,in the and, redeem thebullion,
leaving the Bank in the same situation ovi it was
previously to the purchase. It is the net profit of
the Bank that can alone redeem any of the present
notes in circulation ; and after the payment of divi-
dends,salaries, and another ex pencer,it is to he feared
t hat in the present state of the commercial world there
will be but little remaining to the credit of the profit
and loss account of the Bank at the end of the year.
It is true that all repayments of loans made to Go—
vernment, which are discharged in Bank-notes, will
in effect cancel to many notes ; but if the Bank
continue to renew these loans, cr to increase them
as they hare done of late, their connection with
Government injures more than benefits the solidity
of the Company. And although the profit may ulti-
mately be enhanced by these gigantic engagements
with Government, yet the Bank is placed for a con-
siderable period in a perilous situation, and the pro-
per proportion, whatever it may be, between the
Bank-notes :in circulation and the bullion in their
coffers, is destroyed. With these views it is my
opinion that you must expect question upon ques-
tion. Evasion may still serve a little longer, but
plain common sense will ultimately prevail ; and I
think the Court of Directors will better consult
their dignity, and more easily secure the approba-
tion of the Proprietors, by anticipating their wishes,
than by exciting divisions in the Courts of Proprie-
tors, which will sooner or later compel the Direc-
tors to yield to their opponents. If the situation of
the Bank be a prosperous one, let the Proprietors
know it, and their stock will attain its full value.
If it be assailed by difficulties, the duty of the Di-
rectors should in ompt them to call for the aid of the
Proprietors ere it be too late. It is quite true that
the Proprietors, owing to the refusal of the Gover-
nor to answer simple and natural questions put at
their General Courts, arc suffering most severely.
The public construe this silence most unfavourably,
and Bank Stock, when compared with Three pe
Cent. Reduced Annuities, is now at a discount o
front 22 to 25 per cent. viz. :
Sale of dividend or annuity of 8/. in Three per
Cent. Retinecd at 90, worth £24.0
Sale of annuity of Si. in Bank Stock (or 100/
stock), worth..

216

Showing Bank Stock to be at a discount of £24

on 1001. Bank Stock
Trusting, Sir, that these remarks from a brother.
merchant will be deemed worthy consideration, l
have the honour to be, Sir, your obedient servant,
AN OLD PROPRIETOR.
nrogmorton• atreet, Oct. 7.