The Sun.
London, England, 1827-09-21 00:00:00

from officers in the army mention, that Raoul, the Chief el
the San Salvador army, took a conspicuous part in the ae-
tion, and performed acts of heroism. i

Many of our perehants have, it is true, shown poriotie
principles and I trill further say, the treasuries of our
priests have somewhat felt the shock : indeed, there have
been collections of the most liberal kind from certain' quar-
ters the least expeeted.

" Colonel Pierson, of Irish descent, was shot a few days
after his arrival from the place where be had been captured
by a parcel of Indians. lie begged very hard for perinis-
sicn to give the fatal word of command to fire. He gave
the word, and died courageously, which some of the' spec-
tators remarked reminded them of the deaths of Mnrat and
Nev None, in fact, appeared to commiserate the fate of
this brave but unfortunate man. He had retired, after the
battle of Momostenengo, fought on the 28th October last,
towards the Mexican frontiers, and, when taken, was ac-
tually on his way to join the San Salvador party."

The Quarterly General Court of the Pro-
prietors of Bank Stock, which was held yester-
day, and of the proceedings of which we gave a
full report in our yesterday's publication, elicited
a fact of some importance, and afforded another
proof of the ignorance in which the Proprietors
and the public are kept of the concerns of a
Company, which, by a strange and fearful power,
have the means of affecting the affairs of every
man in the kingdom.

It is well known that the General Courts of
the Bank of England, held for the purpose of de-
claring a dividend, are not like those of any-othcr
Company in existence, where a fair statement ofthe
affairs of the Company are laid before the body
Of the Proprietors, to enable them to express by
their vote a sound opinion upon the amount of
.dividend which may, with safety to the concern,
and justice to the individual Proprietors, be de-
clared. On the other hand, the Quarterly Court
at the Bank is reduced to an empty form. The
proposal of the Court of Directors, whatever it
may be, is to be adopted, without the least in-
formation being given to the Proprietors as to
the foundation on which the proposition is made.
The Proprietors probably find it most to their
interest to submit to being thus kept in ignorance
of the real state of their affairs, because
they already receive a rate of interest more than
double what others can get fur their capital, and
an explanation might tend to reduce rather than
to increase this undue advantage. If, therefore,
they, choose to remain. in this state of blissful
ignorance, the public would have no right to
interfere for the purpose of removing the veil
from their eyes, provided the proceedings of the.
Bank did not concern the general interests of the
community ; but we contend that as long as; the
Bank have, as we before observed, the power of.
affecting the property of every member of the
community, by creating a circulating medium,
and increasing or diminishing its amount accord-
ing to tileir discretion and the interest of their
own concern, so long, we say, the public, and
we, as public journalists, have a right to , watch
their proceedings, and scrutinize them with
jealousy and rigour.
We pass' therefore unnoticed, the questions
which were put, and the answers which were
given, relative to the grounds on which a divi-
dend at the rate of 81. per cent. per annum was
declared, and we shall also not now enter upon
the refusal' on the part- of the Governor of the
Bank to afford; any information, relative to the
extent of the issues by the Branch Banks from
their establishment,' although we conceive that
that part of the subject sufficiently concerns the
public interests to justify a demand for the fullest
information upon it ; but on this occasion we
shall simply confine our observations to the ex-
tent of the aggregate issues of the Bank, and the
fact which was elicited, that the sums which have
been issued on deposits have not been included
in the statements which have been made public
of the amount of the Bank issues.

It appeared by the very scanty information
which was given, that the aggregate amount of
the issues of the Bank had been increased 4 or
500,000 since the last General Meeting, but it
was observed that that sum was but a trifle when
the enormous transactions of the Bank of Eng-
land were considered. The sum itself, it is true,
is not large as compared with the whole issues,
being an increase only of about 2 per cent. But
we say that it is important in the highest degree
when the state of the Money Market and of
the Foreign Exchanges is considered. The
public naturally expected that the Bank
issues would have been reduced so as to
c eu
insteadteraet the effectof
tll
at, of Foreign
itthenowc on
comes
Exchangesoutthat
;
but,
an actual increase has taken place in their
amount, and hence, perhaps, arises that state of
things which the Bank of England were sup-
posed to be endeavouring to obviate. But on
what possible pretence the sums advanced on de-
posits have not been included in the total amount
of the Bank issues, as returned under the pro-
visions of an Act of Parliament, remains for bet-
tor explanation than was given yesterday, and ap-
pears to us to demand the future investigation
of Parliament. To meet the temporary dis-
tresses of the money market in 1825, and the
beginning of 1826, the Bank agreed to advance
money on the security of goods : that is—in-
stead of discounting a merchant's bill on the
credit of his name, to make the same advance on
the actual security of his merchandise. Sums so
advanced are not calculated as part of their issues,
forsooth, because the security is so ample ! Are
we then to assume that the Bank cannot give
good security to the public for other
pegaruall
taoYf their issues ? Are not all their issues
made on the security of gold, or its equivalent ?
or are they to be considered in great part as fie-