The Sun.
London, England, 1842-10-21 00:00:00

LATE MARQUIS WELLESLEY.

The following lines were written by his Lordship,
and intended as an inscription for the pedestal of the
statue of the Duke of Wellington, about to be erected
by the citizens of London :
" Conservata this Asia, atque Europa triumphis,
invictum hello to coluere ducem. Nunc umbrata,
geris, civili tempera quercu ut desit famw gloria nulls
tune."

These lines have been thus rendered by Lord
Wellesley himself:—
" Europe and Asia, saved by thee, proclaim
Invircible in war thy deathless name.—
Now round thy brows the civic oak we twine,
That every earthly glory may be thine !"

WOOD PAVEMENT.—The first wood pavement that
was put down in London, at the east end of Oxford-
street, four years since, is now being reversed and re-
laid, and causes much surprise by its greht durability,
Ir.fr'y Of the blocks not being reduced half an inch of
th ii uriginal which V,as one; -foot, though ex-
posed to all the traffic of Oxford-street.

SPIRIT of the PUBLIC JOURNALS.
FROM THE EVENING PAPERS OF YESTERDAY.
GLOBE.—We insert some observations of a
Morning Contemporary on what must now, it
would appear, be called the Webster Tariff, in
connexion with what is already famous as the
Nnveewfoottii
forbear
satrri ctnt upruesbloi
snht he
thoselatter
oftraa nesnarcrteisopun
Ashburton Treaty. . We shall not at present re-
;n
dent
who signs himselfVindex ; because we are deter-
mined not to inflame hostile sentiments towards
America on the shallow pretext that America en-
tertains hostile sentiments to us. If such were the
case, it would still be ourduty, asorgaus ofopinion
in an older community, less excitable on foreign
questions, and less directly governed by popular
.impulses, to moderate rather than to inflame
angry feelings between countries, whose highest
pride and truest prosperity must be founded on
not forgetting their relationship. Each has (or
is capable, at least, of producing) what the other
wants to complete those means of material well-
being which the first fertility of virgin, soils, and
the last finish of skilled workmanship,
are capable- of contributing. Each has
hitherto chosen to cut off a large sec-
tion of their means of interchange—a course
of folly in which it is unquestionable that we
took the first start, and it appears froth the new
tariff, and from Mr. Webster's -late speech at
1u..-quo, a powerful American party is openly
espousing (just as we are relaxing) restriction.
We will not yield to the temptation of putting a
party colour on this coincidence. We will not
comfort • ourselves by charging on diplomatic
incapacity these commercial menaces. We have
long set a very bad example ; in consequence
of it, we have not enlisted that vast agricul-
tural constituency in our favour throughout
North 'America, whO are the true and ultimate
arbiters of war or peace—extended or con-
tracted commerce. Neither dip!omacy, nor red-
hot shot have charms or terrors for this scattered
constituency : they have little sympathy with
their own commercial interest, and little fear of
hostilities with England. But, like all other men,
they have interests through which their inclina-
tions may be worked upon ; those interests are
strictly, and demonstrably, coincident with our
own; they are the interests of a new country in
the exchange of raw produce for goods ;
as ours are the interests of an old coun-
try in the exchange of goods for raw
produce. On this simple basis what a firm edifice
might have been reared ! what reciprocal advan-
tages might have assured steady peace and com-
merce ! Instead of this, what have we now to
deal with? A race of cultivators who care little
about us. A mercantile body who, havinr, long
pushed their dealings with us beyond the'fblin-
dation we allowed to exist for equitable inter-
change of respective products, are now deeply
and hopelessly in our debt, and political bodies,
representing a. hostile or indifferent popular
feeling, and cutting the Gordian knot of finan-
cial embarrassment by I
s_mp_y stopping payment.
STANDARD.---The official dispatch of Lieu-
tenant-General Sir Hugh Gough, published in
yesterday's Standard, is calculated to excite a
painful feeling in the minds of even those who
most cordially rejoice in the success of the British
arms on that occasion, as adding another to the
many melanchcly proofs which have been af-
forded us of the weight of the responsibilities
which the late Ministry have bequeathed to
their successors in office. Notwithstanding the
presence of a powerful expedition, commanded by
gallant and experienced officers, and eniployed
with a degree of success which could hardly have
been anticipated, we find ourseles, in the third
year of the Chinese war, and after the expendi-
ture of nearly three millions sterling, and a great
sacrifice of life, hardly nearer the goal than we
appeared to be when we took possession of
Chusan. Place after place has been taken
and abandoned, and thousands of the Chinese
have from time- to time been slain, without
making, any sensible impression . upon them,
and without a present prospect of forcing terms
from -the pig-headed barbarian who rules
over them. Fort after fort is takeii; dismounted,
and abandoned, and almost as speedily
structed and re-occupied, the force at our dis•s
posal not being sufficient to admit of our retains
trig conquests which it has cost so much time,
trouble, and expense (not to mention more im-
portant sacrifices) to achieve. Chapoo has fallen
into our hands, and is at this moment occupied
as the head-quarters of Sir Hugh Gough's
troops; but to achieve this onward movement it
has been necessary to -abandon Ningpo• Thus
each of these progresses costs us more
than it turns out to be worth, and should
the war continue much longer, we shall incur
the risk of being ruined by our successes. It is
true, we have the assurance of Sir Hugh Gough,
that the orderly and flirbearing conduct of the
British soldiers under his command has excited
feelings of gratitude and respect among the Chi-
nese which they have not been slow to acknow-
ledge; and that they are beginning to under-
stand that,• whilst -the most vigorous opposition
will be made to the Government, and to all hos-
tile displays of military force, the population of
every class will be protected as much as possible.
They cannot, however, have forgotten the recent
slaughter of their troops, and their feelings of
mood-will can therefore hardly be expected to
continue unimpaired, when the apprehension ex-
cited by the presence of British troops has been
removed.

MONEY MARKET and cirTY NEWS.
FROM TILE MORNING PAPERS
TIMES.—The market for English securities re-
mains unchanged. The bargains entered into were
few, but the aspect of quotations continues as firm as
itdatrienthperesented as busy an appear-
ance as formerly, when the old hours of attendance
were in full force. The Committee appointed at the
late public meeting sit at the London Tavern, to frame
regulations to carry out the plan : and it is believed
that when the public sales in Mincing-lane and the
vicinity are conducted at an earlier hour, a corre-
spondence will be opened with the Gresham Com-
mittee, who will probably give their consent to the
plan. The subject of an alteration in the sales of pro-
duce, the commencement of them at about 11, or half-
past 11 o'clock a.:n., instead of between one and two
o'clock p.m., the hours at which, according to present
regulations, the great bulk of goods are disposed of,
is understood to receive the support of the chief
houses, and it only requires the example to be set to
make it general. If this is accomplished, there can
be but little doubt of the result.
The Penguin packet has arrived With dates from
Rio Janeiro to the 15th of August,
.Monte Video to
the 29th of July, and Buenos Ayres to the 13th of
July. It appears that none of the Brazilian Mining
Companies, although this packet is stated to have
brought 30,0001. in gold on freight, have received any
intelligence, the communication with the interior
being stopped. The gold the produce of the mines
of several of these Companies, which should have been
received by this arrival, will therefbre have to be sent
down under joint escort to wait the next packet. The.
political news from the Brazils is not of interest. The
I\ Loney Market was suffering much from the over
issue of paper by the Government, and the exchange,
which had been down to 24k, had, however, since re-
covered
to 251 to i. The depressed condition of busi-
ness was unfavourable to a revival of confidence, and
hence there was a good deal of uncertainty prevailing
as to whether the exchange would maintain the point
now quoted. The estimate of the new crop of coffee
was on the side of an advance in price. Local Stock
was quoted 69 to 70.
The Monte Video papers announce a variety of
facts connected with the dispute at present pending
between the Uruguay and Argentine Republics, but
none of which are of sufficient importance to de-
monstrate the progress of hostilities between the two
Governments, and only serve to illustrate the partial
manner in which the press is conducted in those coun-
tries. Rivera was in the capital, and this was pre-
sumed to be indicative of the little fear entertained
respecting the assault which, in the shape of an in-
vasion, bad been threatened by the force of Rosas.
The presence of his Excellency at the seat of Govern-
ment was considered to be a sufficient guarantee for
the permanent welfare of the nation. The Corri-
entes, according to the accounts in these papers,
have taken up arMs against the Buenos Ayreans,
to arrest the aggressions Roses seems inclined to
make upon that province. Some allusion is made
to a mediation by' the English and French repre-
sentatives between the belligerents, but it does
not appear that they are inclined for a settlement
without a decided conquest is declared either on one
side or the other. Trade at Buenos Ayres and Alonte
V*o was not, as Fogaas 1344511 manufactures, in

a thriving condition, and the latest reports were, that
though extensive sales had been made, they were all
at lower prices. Under the head of "Exports" we
find allusion made to th; increasing business of Monte
Video in hides and horns, and, with the assistance of
the new treaties concluded with England, Spain, and.
Sardinia, it bids fair in this respect to become a for-
midable rival with the Buenos Ayres market. The
severance of friendly intercourse with Buenos Ayres
by the Chilian Government is also alluded to, but
only in the same indefinite • terms stated on the hest
arrival. It is furthernsserted, that La Madrid, with
other leaders, had already stirred up a revolt in the
provinces, and that Tucuman, Salta; Jujui, and La
Rioja, were subversed.
The Buenos Ayres papers give the circulation of
Treasury bills on the Ist of July at 4,385,600 dollars,
and the number of vessels in port at the latest date
as 52. The exchange on London was 3 1-16 d. per
paper dollar.
One of the papers from Monte Video contains an
article, the design of which is to prove that it is the
interest of Europe in general, and of this country in
particular, to oppose the tyranny of Roses. The
" brutal system" of Roses has, it is said, caused a loss
to British commerce, which may be easily ascertained
by comparing its increase under the republic of Uru-
guay, with its decline under the Argentine republic,
as governed by Rosas. Before he had attained the
Dictatorship, there was.double the number of British
establishments, and double the number of British
vessels navigated the River Plate. But the loss sus-
tained by England is not merely indirect, and the
writer of the article computes 14,3.50,000 dollars as
direct loss. Among the items which compose this
sum, are 9,800,003 dollars for debts and arrears ;
1,250,000 dollars for the mines of Uspallata and
Rioja; and 1,000,000 dollars for losses sustained in
consequence of the prohibitory duties imposed by
Roses on British manufactures. But the worst act of
Roses, in a financial point of view, is his seizure of
the lands pledged for the security of the public debt.
He is stigmatised as the first who has ventured to
commit this breach of public faith.
It has been stated to-day in the City, on authority
which leaves no doubt of the fact, that Mr. Dowding
and Mr, Fenning, Surveyors-General of the Customs,
have been suspended ; also that the Treasury have
now taken the investigation into their own hands.
Some inquiry is made by different correspondents
as to the present position of a loan entered into some
time back by Mr. Jaudon, agent for the United
States Bank, with the house of Denison and Co.,
when a deposit was made, as collateral security, of
Certificates of Pennsylvania 5 per Cents., Michigan
6 per Cents., and Mississippi 5 per Cent. Bonds.
These securities were retained by the contractors,
who issued debentures for the amount of the loan,
(400,0001.) bearing 6 per cent. interest, which de-
bentures were to be paid off in April, 1842. The
ruin of the United Sates Bank followed very
shortly after the conclusion of this contract, and
some of the States, whose. bonds were appended as
security for the final payment, having at the same
time adopted the " repudiation " system, the value
of them fell rapidly,. so that it became necessary to
ask for an additional deposit, which was given. At
that time, according to the market rate, the securi-
ties in the hands of the contractors were considered
worth $2,450,000, or about 500,0001.,—sufficient to
cover the whole loan and the interest upon it. But
the state of Pennsylvania having since "repudiated,"
or rather declared her inability to pay, Michigan
being bankrupt, and it being uncertain whet* the
Mississippi bonds so deposited stand within theerayge
of Governor M'Natt's inderdict, the value of the selsole:
deposit has become very uncertain, though it mas7b§
safely affirmed that it falls very short of the sum bor--
rowed. So far from the debentures being paid.offia
April last, when at maturity, a correspondent 404:
that on applying for his half-year's dividend, whitdic
was 301., he received only 191. 15s. Bd., which he wet,
told was the produce of the interest upon the Penn-
sylvania stock only. The question is, of course, to
what quarter the holders of the debentures are to
look in future for the payment of the interest and
of the principal. A suggestion is made that Messrs.
Denison and Co. should sell or divide, at the
value or the day, according to the amount for
which the debenture was granted, a propor-
tion of each stock which they hold as se-
curity, among the holders of the debentures, and
further give to them a certificate that they would
use their best exertions to recover the deficiency in
value from the parties by whom the securities were
deposited. A sale of these stocks to any extent is
now out of the question, and the prospect a very
doubtful one of recovering any assets from the wreck
of the United States Bank, so that a division of the
securities among the holders of the debentures seems
to be the only course open for consideration, and that
to be taken as a final winding up of the affair. As it
is understood that Messrs. Denison and Co. have exe-
cuted a trust deed, declaring that they hold these
securities, which are particularly enumerated in a
schedule to the deed, for the benefit of the parties in-
terested, it may be safely' assumed that a house of
such high character is prepared to fulfil that trust in
any manner that they may be called upon to do, pro-
vided all the parties agree upon the course to be taken.
This is one difficulty; and another obviously is how
to settle the value of an article for which there is lite-
rally no market, and which is not to be got over,
unless the parties, which is hardly likely, would agree
to take them indiscriminately at their nominal value.
They might in that mode finally close the affair, and
even retain their original debentures for what they
were worth ; but Messrs. Denison will naturally re-
quire to be satisfied that they all agree to accept such
stock as an acquittance of the claim, so far as they
are concerned ; for many holders might prefer leaving
the securities in their hands and under their manage-
ment, until an opportunity was afibrded of realizing
them for the general advantage.
It were greatly to be desired, a 3 is remarked by
this correspondent, that houses engaged in loan con-
tracts for foreign States and Governments would
take a more prominent part than they usually do in
protecting the rights of the creditors, under any
bl-each of faith that may be committed. The con-
tractors, almost uniformly, derive great advantages
from all transactions of the kind ; they are very fre-
quently the only persons who do so; and yet in a
time of danger, when a struggle is to be made for the
creditors, they usually keep entirely aloof, instead of
occupying a prominent place, which their character
and standing as capitalists would enable them, with
great benefit, to do. If this was felt more than it is
to be a moral and honourable obligation among them,
contracts would not be so inconsiderately entered
into as they very often have been, and, when broken,
the sufferers would enjoy much better protection. As
the payment of dividends gives them a sort of clue to
the names and residences of the holders of such secu-
rities, contractors of loans possess the knowledge
which is essential towards making a combined and
energetic effort. We should, in that case, occasion-
ally hear of meetings of the parties principally con-
cerned (for the smaller creditors might properly be
left out) at the counting-houses of the contractors,
and we might expect—what ought to satisfy every
body—as much care and diligence to be used as if the
whole debt were due to the contractor alone.
CHRONICLE.—As the Committee appointed to
carry into effect the resolutions of the late public
meeting for the earlier hours of 'Change will assemble
to-morrow (this day), we hope they will not overlook
the complaints, which are very numerous, regarding
the delay in returning bills left for acceptance. Mr.
Bates allowed that the delay in issuing foreign bills,
which often detain merchants until nine P.M., was a
grievance which called for amendment, and we are
sure that if any improvement can be made in regard
to the accepting of bills of exchange, it will not be
opposed by the leading firms. The practice at present
is not to deliver bills left for acceptance until twelve
o'clock on the day after. Now, it is true that full
time must be allowed for inquiry in such cases, but
we do not think it unreasonable to expect that bills
left for acceptance should be delivered by ten A.M. of
the following day. This would still allow nearly an
entire day for consideration, and would remove the
complaints now made regarding the delay experienced
in this important branch of mercantile business.

In the Produce markets, the motion made by Mr.
Cook yesterday, of the firm of Trueman and Cook,
was also well entitled to support, as it will bring
about the saving of an entire hour in Mincing-lane.
The practice at present is for the buyers of East and
West India sugars, &c., to inspect the samples on the
day of sale, which go on in rotation as the same may
be arranged in the list. The result is that.there is no
sufficient time for the buyers to inspect the sales,
which begin at one p.m., and that there is a regular
scramble afterwards to get through the business of
the day. Mr. Cook proposed that the samples shoal
be seen and examined by the buyers on the day
preceding the sales, and that-the latter should begin
at twelve o'clock in place of one o'clock, thus giving
ample time for inspection, saving a complete hour to
the trade, and enabling them to conclude their labours
in perfect time to attend 'Change.
A meeting was held to.dAyt 14 the George and

Brighton Railway Shares are looking up, the return
made of the traffic for the week being again favour-
able. The receipts have been 4,6471., namely, for
12,617 passengers 4,1621., and for goods 485/. Other
descriptions remain at about the same quotations.
Corrientes papers to the 19th of June had been re-
ceived at Buenos Ayres, in which it is stated that a
decree had just been published by the Government of
that province, calling upon all the male inhabitants
between the ages of fourteen and fifty years to take
up arms in defence of the country against the aggres-
sions of Buenos Ayres. It was also said that Rioja,
Tucuman, Salta, and Jujui, had joined the cause of
liberty.
The Monte Videans speak in terms of great satis-
faction of the conclusion of the treaty of commerce
and amity between the Republic and Great Britain,
regarding it as an earnest of the good feeling enter-
tertained towards them by the latter Power. The
conduct of France, in getting the State into difficul-
ties with its ruthless neighbour, and then abandoning
her to her own resources, is commented upon in a less
amicable spirit. The reports of a frowning state of
affairs having sprung up between Buenos Ayres and
Chili are revived.

There were in the pert of Monte Video 124 vessels
of all nations, whereas at Buenos Ayres there were
but 52. This is a feature that does not escape no-
tice here as one of importance, in a commercial point
of view. , Of English ships there were 25 at Monte
Video, and at Buenos Ayres only 12. The Exchange
at Buenos Ayres was 3 1-16, and at Monte Video, 42.

THE LATE JOHN BIBBY, ESQ.,
OF LIVERPOOL.
It will be remembered that this gentleman, who
was an e,minent merchant, and a Director of the Royal
„Bank of Liverpool, was found drowned in the month
'cit. July, 1840, in a pond of water, in a secluded field,
about four miles from Liverpool and about two from
his own residence, which was at Bootle. As it was
c`rtain that he had been robbed, and too much reason
tp believe that he had afterwards been murdered,
scverk:aien were apprehended on suspicion; but,
after every inquiry had been made, the - County Ma-
gistrates; before whom they were examined, discharged
them for want of evidence.
Within the last week, however, information has
been received which shows that the unfortunate gen-
tleman was robbed, though it is only by inference and
supposition that it is believed he was afterwards mur-
dered, by a gang of villains. The information, de-
rived from the confession of the convicts, is to the fol-
lowing purport :—Three men of bad character, who
have since been convicted and transported, and who
appear to have known something about Mr. I3ibbv,
having seen him, on the evening of the day preceding
the morning of hat on which he was found drowned,
go into the Royal Bank, formed a plan to waylay
and rob him as he was returning home. Ile
left the bank, where, it having been the July
half-yearly meeting, there had been a cold colla-
tion, in a car, accompanied by another gentleman,
who; living at Everton, got, out on the road. The
car then drove towards Mr. Bibby's residence at
Bootle. A short distance from his house he got out,
intending to walk home, as was his custom. The three
men seem by some means to have got to the road
about the same time. They seized Mr. Bibby, jostled
him, and robbed him of his money and his watch.
Among the money were two guineas, which, it ap-
pears, he had kept as pocket pieces, and which, it has
been ascertained, were among the money which the
robbers confess to have taken from his pockets. They
confess, we believe, to the robbery merely; but there
is not the slightest doubt, that, after having robbed
the unfortunate gentleman, they carried him off the
road into the adjoining field, and ultimately threw him
into the secluded pond described already.

Mr. Hardinge (eldest son of Sir Henry Hardinge)
is so far recovered from the effects of his late dread-
ful accident as to be able yesterday, with assistance,
to leave his bed for a short time. The operation of
cutting off the foot, above the ankle-joint, was most
successful.

ADMIRAL NITGENT.—We regret to state that this
gallant officer passed a restless night on Tuesday, but
the answer to inquirers at . Charing-cross Hospital
yesterday was, that Sir Charles, on the whole, was
going on favourably.
EXETER, OCT. 15.—The arrangements are com-
pleted for running the new mail between Falmouth
and London, to facilitate the transmission of the West
Indian, South American, and Mediterranean mails.
This mail will be started to-morrow week for the first
time The new mail from London will reach Exeter
soon after six in the morning, and will run the dis-
tance between this place and Falmouth, by the way of
Oakhampton, in about nine hours and a half. It will
pass through this city on its way'to London late in
the evening, so that it will leave Falmouth full half a
day after the present mail leaves that place, and ar-
rive in town at the same time. This will be a mani-
fest improvement on the old system, because, until
very recently, if a foreign mail did not arrive at Fal-
mouth very early in the morning, it was detained
there until the following morning; whereas, by the
new arrangements, it will be forwarded towards the
middle of the day. A mail from Devonport will
leave here as soon as the Falmouth mail arrives, and
will reach the former place at about eleven in the
forenoon. This mail will leave Devonport at about
one in the forenoon, to reach Exeter just before the
Falmouth mail passes through here on its way to
London.

WINDSOR, OCT. 18.—In consequence of the fatal
cases of fever which occurred at •'sher a few weeks
since, her Majesty has abandoned, for the present,
the intention of leaving the Castle for Claremont.
The visit of the Court to that delightful retreat of his
Majesty the King of the Belgians is, therefore, inde-
finitely postponed. The circumstance of the preva-
lence
of typhus fever in the immediate neighbour-
hood of *Claremont, has caused her Majesty to
determine upon paying a visit to Brighton before,
instead of after, Christmas, as had been previously
intended. The period mentioned for the depar-
ture of her Majesty for the Pavilion is about the Ist
or 2d of November. The Court is expected to re-
main at Brighton for about a month. Their Royal
Highnesses the Prince of Wales and the Princess
Royal will accompany their illustrious parents to the
coast. The Royal dinner party at the Castle this
evening (covers being laid for 21) included her Royal
Highness the Duchess of Kent, Lady Charlotte Dun_
das, the Countess of Dunmore, the Hon. Clementina
Hamilton, the Hon. Georgiana Stanley, the Dowager 1
Lady Lyttelton, the Hon. Mrs. Anson, the Earl
Aberdeen,- Lord and Lady Haddo, Lord Byron,of
General the Hon. Sir William Lumle
Colonel Arbuthnot, the Right Honh.ariSe?s; '
Henry Fremantle, K.G.H., Major-General Sir E.
ur (Scots
Bowater, G.C.H., Admiral Sir C
Rl:ii"oul:ewisiila:l
and Dr. Preetorius.
K.G.8., Captain Francis Sey no
Guards), the Hon. C. A. Murray,
Mr. G. E. Anson (Private Secretary to Prince Al-
bert) is recovering, but very slowly, from the effects
ughtbhyatith to him on Thursday
of the accident which occurred
last while hunting with his Royal Highness's pack of
Paddington
aarrddii enng.t 0
nI expectedtfrisoms
Windsor for Brighton her mvvhen the Court leaves
aejeGs.trYe.atwliVllesPte
lo
way, and from Lend . rmoceitedaitio.
00 to
ton W~~• the Pavilion by the Brigh.