The Sun.
London, England, 1842-06-22 00:00:00

trb -'> Aut.

LONDON!
WEDNESDAY MORNING, JUNE 22, 1842.

It is rlain, frdm Mr. HORSLEY PALMER'S letter, which
Sir E. PF-rx. quoted on Monday evening, that we were
not far wrong. in conjecturing that Mr. GOULBURN had
lent himself to the purposes of the Bank of England.
Mr. PALMER says, in a letter written on the 2d of
December last, " which has been placed," said Sir
Robert PEEL, " in my bands t"—
"It is necessary for those connected with the management and
use of the currency, to press upon her Majesty's Government,
through Sir R. Peel, the great and growing evil we are all
sustaining from the depreciation of the gold coinage. I be-
lieve that the Bank of England has done every thing in its
power, by constant and frequent representations upon the
subject, both to the late and present Ministers. The evil has
been admitted, but no remedy whatever has been suggested
by the Government to the present day. The prominent
points .are as follow 1. The effect upon the foreign ex-
changes, which, in the event of an unfavourable course again
existing, will either be exhibited in an advance from 1 to
per cent on the price of standard gold above our Mint price,
judging from the character of the present depreciation, or by
draining every sovereign from the vaults of the Bank, the con-
sequence of -which you can estimate as well as me. 2. The
present abstraction from circulation of a very considerable
amount of currency, consisting of the surplus light gold that
the 'eankers in London and the conntry are unable to pass
through the Bank of England, or in payment to the re-
ceivers of the revenue. if an arrangement be made for such
sovereigns being received upon good terms for account of the
Mint, bank-notes would immediately issue to the extent of
the receipts, and solar increase the money circulation of the
kingdom, 3. The last, and which may, perhaps, be considered
the most important objection in a public point of view, is the
gre.tt -inconvenience to which the public are subject from this
dept•eciation.' Having thus briefly referred to the evils that
exist:, it seems to me that a very prompt and easy remedy may
be Worded, if Sir Robert Peel can be induced to adopt it—
viz.; ..to apply to Parliament, as one of his first measures after
Chris trnas, to authorise the Bank to clip all sovereigns pre-
sented, which power was formerly possessed in the case of gui-
neas, and at the same time, to sanction the receipt of such
light coin for account of the Mint at the standard price of
3/. Et's. lobd per oz."
It: seems also that the-London bankers, those paragons
of asinterestedness and public virtue, made a represen-
tali( an to the Treasury, which ran thu :
" Londos n, Jan. 20,.1842.
Ivy Lords,—We feel it our duty. to represent to your
Lordalips that much inconvenience arises from the quantity of
light gold in circulation,
thatig no other mode to remedy
the evil, we bob to sugges power be granted to the Bank
of El 'gland to clipb such sovereigns as may be presented to them
under the proper weight, and that arrangements be also made
with the Bank to take in all light sovereigns at the Mint price
of 31. 17s. 100. per oz.
We sha44 be obliged by your Lordship's early consideration
of this subject, and have the honour to remain," &c.
This letter was signed by twenty-four banking firms;
raid, considering their wealth, united to the wealth of
the Bank of England, it was not possible fur a Govern-
men't which reverences money to resist its application.
It w as all-effectual at the Treasury. Not a thought
seem s to have been wasted on artisans and little shop-
keep srs, ten thousand of whom were annoyed and in-
jured by I\lr. GOULBURN'S proclamation for one levia-
than .11z long money owners, whose hoards it increased.
I he ..)pulent classes, as Mr. C. ButmEa remarked on
Moi day , have a paper currency of their own. They
make- Otte bulk of their payments by checks and drafts,
and.t.uir use a sovereign or two for pocket money. To
the lowt:r classes the Legislature has denied a paper
curr :y, with a view, we believe, to protect them. It
is on tivg)9e, therefore, who are in the receipt of weekly
wags s, :and the little shopkeepers they deal with, who
canal at .tlispense with gold, who keep no banker's ac-
corm ts, that the weight of the proclamation, and the ex_
pens e of. estoring the currency, have mainly fallen. The
bank ers Leaving applied for some measure, probably anti-
cipat ed it, and were prepared for it. The defence of the
Cabit iet makes the reality more disgraceful than we bad
imagi fined it. On this, as on other occasions, the heavy
ban' 1 aof the law has crushed chiefly, What Mr.
Ca2-r
IdLE t Itas called the dumb multitude, from their having
no Rice in high quarters. For our statesmen, they are
'OW JONS, whose blows only make any impression.
I t is, :ut the same time, plain that Mr. GOITLBURN did
not ,exactly comply with the bankers' :request. They

solicited that the Bank of England be empowered to clip
sovereigns under weight, and receive them at the Mint
price fur bullion. This might have been done by an
engagement bi tween the Government and the Bank, the
Bank giving notice that it would act as desired. The
proposition of the bankers, in fact, is in principle
identical with the suggestion we yesterday threw out,
but not so general nor extensive, neither applying to all
public offices nor to all times. We do not quarrel,
therefore, with the proposition of the bankers, but it has
no resemblance to the actual proclamation. This pub-
licly discredited the whole of the gold coin, making it
necessary to weigh every piece ; that asked that Coin
no longer of full weight be quietly withdrawn from cir-
culation. The bankers implied that the Government
was to bear the necessary expense—the Cabinet threw it
on the artisans and little shopkeepers. The proclamation,
therefore, was a very heedless and very unnecessary op-
pression of those classes which have little or no paper
money. We believe that Mr. GOULBURN blindly fol.
lowed a precedent, without the talent to appreciate the
consequences.

The affairs of Spain are in a most distracted state. In
Portugal, France, and England, the struggles carried
on among public men, under the guise of patriotism,
are struggles for office ; but in Spain we find weeks
2lapsihg, while the Ministerial departments are a-beg-
ging for persons to fill them. The REGENT, in fact,
has experienced the greatest difficulty in forming his
new Cabinet, which, notwithstanding the time left for
deliberation, is still wanting in elements of strength. A
telegraphic despatch from the Spanish capital of the
17 th inst., apprises us that the new Ministry had then
been formed, and that it consisted of General RODIL,
Count ALMODOVAR, and Senors ZUMALACARREGUY,
RAMON, CALATRAVA, CASSAZ, and TORRES SOLANET.
Most of these Ministers have been already tried, and
found wanting. ALMODOVAR, CALATRAVA, and Zu-
MALACARREGUY, are respectable names undoubtedly, but
none of them are men of such commanding intellect
as are required by the present energies of Spain.
Insurrections are breaking out in several provinces, and
there is every prospect of another summer being con-
sumed in civil wars. On the 16th inst., a mob paraded
the principal streets of Barcelona, shouting for the Con-
stitution of 1812. They were charged by a body of
cavalry and dispersed. Another mob proclaimed the
Constitution of 1812, at Figueras, in Catalonia,
and was also attacked and dispersed by the mi-
litary. Large bodies of troops were concentrating
around Madrid, which was strongly garrisoned. Dis-
affection was general, and the people were ready to adopt
as a remedy for their distresses the evils which occa-
sioned them, namely, another resort to arms. ESPAR-
TERO'S exalted position is far from being an enviable one.
No Sovereign in Europe has a more difficult task to per-
form than the REGENT of Spain. The Carlists, the
Christinos, the Republicans, are all his enemies, and these
abound among all classes in the Peninsula. Like every
nation who snaps the bonds of tyranny, without gradu-
ally unloosing them, as we have done in England, the
Spaniards are running wild, and injuring themselves, be-
cause they have not learned to make a judicious use of
freedom.

The REGENT committed a fatal error in sanctioning
such rigorous prosecutions of the inferior clergy. Had he
known how to have made a proper use of the services of these
men, and taken only ordinary means to obtain them,
there would be less discontent in Spain, and no disposi-
tion to have again recourse to the sword. But by pro-
secuting them he made them objects of pity, and there
is no sentiment which it is the duty of every Government
to be more careful not to have felt for the fops of
the State. Whatever be a man's faith, or
even if he have no faith at all, provided he
has been educated in the profession of one,
the sufferings of a priesthood will move him to
compassion sooner than the same evils, if endured by
the laity. The REGENT was therefore manifestly wrong
in wantonly courting the hostility of the priesthood.
To strip them of their overgrown wealth and power was
just, and Spain applauded it, but not so the prosecution
of them before Courts of Law for exercising the
most inoffensive to all Governments of their
spiritual functions without seeking a recognition
of right from the civil authorities. The ob-
servance of the Canon Law in the mere matter
of celebrating mass was surely enough to require in
Spain from a priest not demanding to be supported by
the state. Governments should never attempt what it
is impossible for them to accomplish—much less what, in
addition to being impossible, must raise up against them
a host of invisible but active enemies. When the RE-
GENT seized the Church property he got possession of
the golden egg, and might have listened unmoved to the
gabble of the goose.

The office of Lord Lieutenant of Ireland may be useful
to the people of Dublin, and the Castle may be found a
very 'convenient dining-place for the nobility and gentry
of that country, but, in other respects, it is of no service
whatever to the country. We have reason to believe
that during the :interregnum which now exists no ap-
pointments whatever are to be made without re-
ference to the Supreme Government here, and if
this system is adopted for one week or one month,
we cannot see why it may not be continued for
the whple year. At present nearly all the leading
men are absent from Dublin. Lord DE GREY iS
about to start for Germany, the LORD CarANCELLOR
is in England, Lord ELIOT, and the ItEcoanmat, and the
LORD MAYOR are attending to their duties as Members
of Parliament, and affairs appear to be cond acted during
their absence with as much regularity, andc ertainly with
fewer personal disputes, than when they have all assem-
bled in the Irish capital. In fact, the Lox LIEUTE-
NANT, unless happen to be a man endowed with
sound judgment, and exempt from political prejudices'
a rare circumstance, does more harm thane good. He
favours one party, and consequently given offence to
another ; and, from residing on the spot;, has great
difficulty in avoiding an appearance of partiality, so in-
jurious both to his influence and the good government
of the country. Affairs in Scotland, witlicmt a Lord
Lieutenant, are much better conducted than. •those of the
sister island ; and we cannot, therefore, see why the
same law should not apply to both. Intelligence
from the two capitals can be conveyed to Lon-
don in the same time; the laws of Ireland
are similar to those of England, they h a•ve the same
Church establishment, and other similar institutions,
while in Scotland the reverse is the case. Ai ere Ireland
governed in the same way, there would mot only be a
saving of needless expense, but the union 'between the
two countries would every day become more et .nsolidated.

From the tone of the French Liberal :,Journals we
augur that their party has a poor chance at ~the ensuing
elections. The Liberals are the war party, cc asequently
it is plain that war is popular only among the de .magogues
of Paris. This is, indeed, most gratifying initelligence.

A great quantity of rain fell in Paris on Suna .ay to the
delight of the parched inhabitants.
Oa Saturday the KING, who appeared in kxcellent
health, accompanied by Count MONTALIVET, Colonels
D'EsnssAc'and CLIABANNES (Aides-de-Camp), and his
architects, Messrs. FONTAINE and CAILLEX X, left
Neuilly for Versailles at two o'clock P.M. Ids MAJESTY
stopped at St. Cloud, where he inspected th.e works in
progress of construction. On reaching Versailles, the
KING was received by the civil and military authorities.
His MAJESTY likewise inspected the alterations and im-
proiTments now making in the Palace, and: returned to
Neuilly at seven o'clock.

According to a Ministerial journal of this rooming, Spain
is in a 'violent crisis. Lanege, the chief of Eapartero's staff, en-
deavonrs to restore the Constitution of 1812; the Carlists
stain show themselves in the northern provinces; in short, the
greatest confusion and anarchy prevail in that unappy country.
The disclosures of M. Louis Bland show us that all these
evils are to be ascribed to the fatal influence of the doctrinaires,
of whom M. Guizot is the complete representati ye.
The Nuremberg Correspondent publishes a 'letter from the
banks of the Rhine, dated June 9, which says— " It isseriously
in contemplation to publish an amnesty for ix atical offences,
without any exception. It is affirmed that ti us measure will
originate with the Diet of the German Confed eration."— Ga-
zette de France.

His Royal Highness Prince Albert has b een gracious],
plc aced to accept the office of President o f the Queen s
Clinical Hospital at Birmingham, recently - erected, for
the purpose of affording, in connexion wi th the Royal
School of Medicine; practical instruction at the bed-side
to the students of the medical profession in. the midland
counties.

EXTRAORDINARY EXPIx ESS.
EXTRA INDIAN MAIL.

The long-expected extra Indian Mailari ived. at Mar-
seilles on Tuesday morning at six o'clock. is said to
have brought no news.

A British officer, the bearer of despatck .es, left Mar-
seilles immediately, for London via Paris.

An insurrectionary movement took place at Barcelona
on the 16th instant. The mob attacked th e prison with
cries of " Viva la Republica," but were dis, persed by a
charge of cavalry. Tranquillity was complet4 ply restored.
A telegraphic despatch from Madrid, dat. -Al the 17th
instant, announces the formation of the 1 finistry
Rodil, Minister of War and President of tilt Council ;
Almadova, Foreign Affairs ; Zumalacarregui, Justice ;
Ramon Calatrava, Finance ; Capaz, Marine ; Torres
Solanet, Interior.

It gives us sincere pleasure to be able ' to. announce
that the Bishop of Lichfield, Dr. Bowstead, hi s so far xeoo-
vered from his late severe indisposition, as to g ive his friends
the best founded hope of his speedy and entim recovery. He
has been in the country since the Ist inst., aol; is daily gather-
ing strength.— Carlisle journaL

SUMMARY OF r4Evis

AND

I)ttbftc eptittott.

" Who runs may read."

FOREIGN.
An English packet-boat has arrived at Marseilles from In-
dia, with despatches for the Government. A British officer,
who came passenger by her, started, immediately on her arrival,
for England.
An extraordinary express from Paris announces that a Re-
public was proclaimed at Figueras (Catalonia) on the 17th. A
second express informs us that the movement was almost im-
mediately suppressed.
It was reported in Paris on Monday (yesterday) that a so-
ciety of 5,000 Republicans had been formed in Lampererdan,
having for its leader Abdon Terrados, who was ill at Perpignan.
On the 16th inst. some dissurbances occurred at Barcelona,
which led to no serious results, but fears were entertained
that tranquillity would not be preserved. The Carlist band;
wen becoming more numerous, and had appeared in the
neighbourhood of Barcelona.
A Cabinet courier arrived on Sunday morning from St. Pe-
tersburgh, with nespatches for the French Government, which
were instantly taken to M. Guizot, at Auteuil.
Sunday's Moniteur contains a Royal ordonnance, prolong-
ing ;he provisions of the decree of the Bth of December, 1839,
in favour of the tariff of the French Antillas. The principal
change is in the permission granted for shippers of foreign
merchandise in French entrepots to pay the duties, in order to
enter into consumption in the French colonies at the colonial
custom-houses, instead of France. Teneriffe and Madera
wales are to be admitted at Martinique and Guadeloupe at a
duty of 60f. per hectolitre, instead of the former one of 100 f.
Prohibited merchandise may be admitted to be bsnded in the
Anti.las.
The Bayonne Sentinelle des Pyrenees, of the 16th, calls for
the interference of the Government for an insult on the French
flag by a search made by a Spanish gun-boat which left the
port of Fuenterabia, and searched a French boat eff the port of
St. Jean de Luz (France.) The cause of the " right of visit"
is not explained.
The Marseilles Papers of the 16th contain an account of the
burning of an American merchant-vessel, the Louisa, which
might have been attended with serious results to the numerous
ships crowding the port. The fire was the work of an incen-
diary, the steward of the vessel, a native of Manilla, who,
having been put in confinement for robbing the captain of
nearly 800 Mexican dollars, in revenge threw phosphoric
matches amongst some inflammable materials. The villain
subsequently threw himself into the river, but was taken out,
landed, and sent to prison for trial. Fortunately the fire was
discovered in time, and the vessel was towed by a steamer out
of the port, when it was got under in an hour, the damage
being confined to the hold.
A great meeting of Kings and Potentates will take place on
the Rhine in autumn. The Emperor of Russia will attend.

PAELIAVIENTATLY.
The Earl of Clarendon presented a petition from the
colonists of the Cape of Good Hope Lora Cousititution, which
was warmly supported by the Noble Earl and Lord Howden.
'I he Earl of Ripon said the position of the colony militated
against the request of the colonists.
Lord Brougham said that he, too, should oppose such a plan,
till the state of society in the colony was considerably improved.
Some further explanation was given by the Duke of Welling-
ton relative to Mr. St. George, both whose dismissal from the
Magistracy of Ireland, and whose restoration to it, met his
Grace's approbation.
The Lords were engaged till very nearly midniTht in dis-
cussing the Income .tax Bill. The Marquis of Clanricarde
moved that the third reading be postponed for three months ;
and supported his motion by an able speech. He was sup-
ported by Earl Stanhope and Lord Monteagle in a useful
speech ; and opposed chiefly by Lord Fitzgerald and the Earl
of Ripon, who supported the third reading of the Bill. On
a division, the Contents were 99, and the Not Contents 28 ;
so the Bill was read a third time, and by a majority of 71,
passed. The Lords adjourned at Twelve o'Clock.
In the Commons, Sir G. Cockburn gave a further explana-
tion of the story that the crew of the Pique had been paid in
light sovereigns. The sovereigns were in fact given to the
sailors all full weight, but some of the tradesmen at Portsmouth
had endeavoured to persuade the sailors they were under-
weight, and they returned to the Dockyard to have them
weighed.
Li reply to a question by Mr. Foster, Mr. Gladstone stated
that he believed the apparent scarcity of silver coin arose from
the momentary depreciation of the half-sovereigns. But the
subject had received attention, and an issue of half-sovereigns
would take place almost immediately.
In reply to Mr. Hutt, Sir Robert Peel said the Hanoverian
Minister had rejected the proposition of her Majesty's Govern-
ment relative to the Stade dues, and he could give no further
information on the subject.

In reply to Sir Charles Napier—by whose remarks it appears
that the famoui lightning inventor, Mr. Warner, is no more
contented with the present Government than he
_wa3 with the

last—Sir Robert Peel stated that Sir George Alurray, at his
desire, had nominated r Howard Douglas and Sir J. Hastings
to examine Mr. Warner's invention. Mr. Warner seems to
complain that the Gallant Officers desire to worm his secret
out of him.

Lord J. Russell's Bribery at Elections Prevention Bill was
read a second time. .

11. r. Ward brought forward his resolution touching the Ballot,
and made a long and valuable speech in support of his motion.
It was seconded by Mr. H. Berkeley, who illustrated the effect
of the present system by occurrences at Bristol. The debate
on this subject, which was rather animated, occupied the
House till nearly twelve o'clock. Mr. Shell and
Mr. O'Connell spoke in favour of the motion. Sir
James Graham and Lord John Russell opposed it. There
were a number of minor speakers, pro and con., but the greater
part of them spoke in favour of the Ballot. Mr. Wakley spoke
against it, but said he should vote for it ; he meant, however,
to oppose its passing into a law, unless he could couple with it
an extension of the suffrage. On a division the numbers
were—for, 157 ; against, 290. So Mr. Ward's motion was lost,
but we hope the night was not thrown away, since it served to
rub up the arguments which can be urged for and against secret
voting. The House adjourned at One o'Clock.
MONEY—TRADE—COMMERCE.
It is expected that the Eastern Counties Railway will shortly
come to completion—the bridge at Widford, the viaduct at
Chelmer, and that over the river Cam are now finishing.
At Wolverhampton the depression in the iron-trade conti-
nues with unmitigated severity. Two or three more blast fur-
naces have been put out, and several hundred hands discharged.
More than 200 miners are stone-breaking at the union poor-
house, and work, if to be had, is at wages almost nominal.

MONEY and COMMERCIAL NEWS.

CITY, TUESDAY EVENING.
The market closed to-day with much firmness, which
may be mainly attributed to the absence of operations, the,
jobbers being fearful of transacting speculative business, in the
apprehension that further sales may be attempted on ac-
count of the Savings Banks. It is probable, in the present
state of the Aloney Market, consequent upon the large influx
of gold into the Bank, that that establishment may appear as
purchasers of stocl; and securities, in order to extend the circu-
lation, which must necessarily, to a certain extent, be con-
tracted, under the effect of the large payments now made into
it. It is, therefore, likely that this cause, combined with re-
investing a great portion of the dividends, payable in about a
fortnight hence, will tend to maintain the prices of the Funds
at their present rates, if not to drive them up still further. Al-
though there has been a demand for money, and the rate has
risen to 4 per cent., yet Exchequer Bills keep their premium ;
and, though too late now, this tact would appear to prove the
position, which has always been held here, that the sums ne-
cessary for the immediate exigencies of the country, could
easily have been raised, by means of these documents, without
pressure on the 31arket, or having recourse to the new tax
lately imposed.
The last prices were, as in the morning, Consols 911 for
the opening ex dividend ; Reduced, 91i, tellers. Bank Stock,
167 1553 ; Exchequer Bills, old, 45 47, new, 40 42 prem.
The Dutch Bonds, bearing: two-and-a-half per cent. in-
terest, declined to 52i 523/4 ; and the Five per Cents., to 100 L
lOU ; the other Securities remained as before : Belgian 102
103 ; Danish, 601/2 81%; Brazilian, 66 67.
Mexican was quoted 36136 g.
The Share Market was flat. London and Birmingham 175

177 ; Great Western, 871/2 88% ; the Half Shares, 615 611 ;
Birmingham and Gloucester, 50 52 ; South Western, 614
62 ; North Midland, 62 64; the New Shares, 31 32 ' • South
Eastern and Dover, '243/4 255 ; the Scrip, 55 511; Eastern
Counties, 81 95 ; Northern and Eastern, 40 41 ; hlackwall,
95 10; and Brighton, 353/4 36.
The Foreign Exchanges were as on Friday, but a greater
amount of business was negotiated. The rates were—Amster-
dam. 12 5 ; Rotterdam, 12 54 ; Antwerp, 12 45 12 43/4 ;
Hamburgh, 13 111 13 125; Frankfort, 1515 1511/2; Paris,
25f. 75c. 25f. 80c. ; Genoa, 25 80 ; Marseilles, 25 80 , Vienna,
9 534 954 ; Trieste, 954 9 55 ; Leghorn, 29 95 30 00 ; Madrid,
364 ; Cadiz, 364 37 ; Lisbon. 521 ; Naples, 405.
Ihe nominal quotations for the Bonds were—Colombian,
254 254 ; Peruvian, 17 18 ; Portuguese Five per Cents., 374
371 ; the Three per Cents., 22 225 ; Spanish Five per Cents.,
214 225 ; and the Three per Cents, 234 234.
(From The Sun of Last Night.)
The principal feature in the Stock Exchange to-day, is a
scarcity of money, which has been currently worth five per
cent. The quarter from which this has arisen, has not trans-
pired, it has, however, had no effect upon the prices of the
funds which generally are firmer than yesterday. Consols
are 91* 914 for the opening ex div. ; Three per Cents. Re-
duced, 911/2 914 ; Three-and-a-Half per Cents. Reduced,
1005 1005 ; Bank Stock, 167 168; India Bonds, 23 24;
Exchequer Bills, Old, 45 46; New, 40 42 premium.
Business in Foreign Securities has been limited to Dutch ;
the Two-and-a-Half per Cents. at 525 521 ; the Five per
Cents., 1004 1004. Prices of the others remain as before
Mexican is not quoted to-day.
The Share market is steady, and a slight improvement has
taken place in Brightons, which have been sold at 36, and
are now 361/2. The other transactions have been Great
Western Half Shares, 614 615 ; South Western, 61 ; South
Eastern and Dover, 25 ; Eastern Counties, 81 95 ; and
Northern and Eastern, 40 41.
Beyond the usual daily bargain in Peruvian at 17%, Spanish
Bonds are the only others quoted to-day ; the Five per Cents.
being marked 21•78 22, and the Three per Cents. '231. The
conflicting nature of the intelligence from Spain, which, from
Madrid, states that a Ministry had been formed, and the money
for the dividend obtained, while, from various provinces, out-
breaks against the Government are of daily occurrence, appears
to have rendered speculators averse to operations.
The conversation in the House of Commons last evening on
the subject of the coinage has been read with much attention.
The arguments used against tl.e proposition, "that the deteriora-
tion should have been borne by the public," are generally con-
sidered to be untenable. The fear expressed, that if the Go-
verninent had determined to call in and re-issue the gold, great
facility would have been given to fraud, is thought to possess
but little weight. The coin is too much distributed to have
rendered it worth the while of holders to have taken any means
for further depreciating it, and if such should have
been done, the result would have been too small to
render tlie process in any degree profitable. On the
other hand, should it have been attempted on a large scale, it
is held that the risk would be too great, and the punishment
too severe to compensate for any trifling profit which might
have been procured. The rotunda of the Bank need only be
visited to ascertain the effect of the measure in the metropolis,
and some approximation may thereby be formed of its opera-
tion in the country, where it must be more severely felt. In-
dependently of the loss in money, the loss of time must by
considerable, and so numerous are the applicants, that it
is 'stated two hours are scarcely sufficient for procuring
change. Many persons suspicious of gold are willing to
take only silver, and here they are met with another
difficulty. Whether from scarcity, or from an unwillingness
to part with it, the Bank most obstinately refused to give it in
exchange even for their own notes. Amounts as low as five
pounds have been denied ; and a party who keeps his account
at that establishment has been unable to obtain ten pounds'
worth of silver. Altogether the measure is fraught with so
much inconvenience, loss, and delay, that an alteration, or in-
creased facilities are imperatively called for, and when it comes
fully into operation thee serious injuries will be materially in-
creased. Another evil which presents itself, is the large
amount which must necessarily be taken from the circulation.
This must, temporarily at least, tend to raise prices. It is said
that the officers of the Mint are busily employed ; but if means
be not promptly taken to supply the deficiency thus created,
serious consequences may be expected to result.
LIVERPOOL COTTON MARKET, JUNE 20, was dull without
any further alteration in prices. 800 bales American, chiefly
fair to good fair, were taken for export, and the entire sales
amounted to 4,000 bales.
LIVERPOOL SHARE MARKET, JUNE 20.—Rather more
business was done this day than of late, but the market still
wore a dull aspect. The sales were, Edinburgh and Glasgow,
474; Ditto, New, 81. Bs. 9d. ; Grand Junction, 188; London
' and Birmingham, Quarters, 351; Brighton, 354 ' • South
Western Consolidated, 605 ; North Union, 70 ; South Eastern,
2412. New, 54.
MANCHESTER. STOCK EXCHGANE, JUNE 20.—We have
' no improvement to note to-day, and Stock is pressing on the
market. South Western, 61 to 62; Edinburgh and Glasgow
' Quarters, %to 1,4 prem.; South Eastern Scrip, to prem.;
Manchester and Birmingham, 25 to 255 ; Bank of Manches-
ter, 4.