The Sun.
London, England, 1842-09-07 00:00:00

THE SUN, LONDON, WEDNESDAY MORNING, SEPTEMBER 7, 1842.

reign. The occasion of perforMing this ceremony i
was most judiciously chosen, and great praise is due
to the craft for the mannerin which it was executed.
The urbanity and grace of the Most Worshipful
Grand Master will long be remembered by the
Brethren, and will form one of their most pleasing
recollections associated with the Royal visit.
PREPARATIONS ON THE ROAD TO
DUPPLIN CASTLE.
North.of Queensferry, on the- road through which
the Royal cortege will pass to Dupplin Castle, active
preparations are in progress for a loyal welcome. All
seem to hasten the happy day to behold Scotland's
Queen and her illustrious Consort, and the warmth of
joyous feeling now excited by this auspicious event is
evident to all who pass along. Nothing is talked of but
the Queen's coming. Triumphal arches are erect-
ing at the east and west end of the Royal burgh of
Inverkeithincr—at the entrance to Duloch, the country
seat of Lord Cuninghame—at Fordel, the residence of
'Sir Philip Durham—at Kinross—and the Bridge of
!Earn, which will be liberally and tastefully orna-
mented with flowers, surmounted with crowns. Scaf-
foldings are also making their appearance in various
places along the road, to enable the inhabitants of the
several districts and surrounding country to obtain a
sight of, and greet, their beloved Sovereign as she
passes into the Highlands. This evening a detachment
of the Enniskillen Dragoons arrived here from Edin-
burgh, and another party are expected early on Mon-
day, which indicate to the inhabitants the near ap-
proach of her Majesty and suite.

V.lO NE Y MARKET and CIT 3C NEWS.

FROM THE MORNING PAPERS OF YESTERDAY.
TIMES.—The false colour throWn over the hews
feom India by the French telegraphic dispatch, pro-
fessing to give its leading points, is beginning to at-
tract that degree of attention in the City which pro
perly belongs to it. Among the great capitalists, and
the Money Market generally, there is but one feeling,
and that of indignation, at the treachery which they
believe to have been practised in this instance by the
French Government, affecting for the moment not
only the funds of our own and other countries, but
produce and every description of property, and this,
as they are firmly persuaded, from motives of a
personal and sordid nature. It were greatly to be
desired that the men at the head of affairs in France,
and who are responsible for, if not actually participat-
ing in, the deception practised, could hear the judg-
ment passed on their conduct by those on whom it has
inflicted more or less of injury. If not absolutely cal-
lous, they would shrink back and feel eternally dis-
graced under the infliction. If this is the system meant
to be persevered in, it will become a stigma on the
whole country, and the principle of honour among
Frenchmen, which has had for ages the confidence of
Europe, will be given up as lost. It is difficult, per-
haps, to state in figures the entire consequence of
these misrepresentations. It is not merely by the
difference of one-quarter or one-half per cent. in the
value of British and foreign securities, which was
observable in the quotations before and after the
publication of the telegraphic despatch, that the in-
jury is to be estimated, though that, spread over
hundreds of millions, is no trifle, but that check to
Ipublic confidence which is thus wantonly interposed,
and which disturbs the operations of every man of
property and every merchant. No trust could be
more sacred than that which is placed in the French
Government under our Post-office treaties, which
make France a part of the high-road to our Indian
possessions, and to violate such a trust is pronounced
on all hands to be utterly dishonourable and base.
If this conduct is not made the subject of a remon-
strance on the part of our own Government, and the
observance of better faith in future stipulated for, no
confidence can exist among our merchants and capi-
talists under the present arrangement, and they will
catch eagerly at every proposal and every project cal-
culated to render them independent of b ranee for the
future in the communications with India.
The annexed letter, which appeared in the last
number of the Banker's Circular, deserves some at-
tention, as evidence of the present state of feeling
among the banking interest, who believe that all the
banks of issue in the kingdom will be called upon to
defend themselves, or, as they term it, the public in-
terest, against the Ministry of Sir R. Peel. The writer
of the letter is Mr. James Taylor, of the firm of
Taylor and Lloyd's, of Birmingham :
" TO THE COUNTRY BANKERS OF ENGLAND AND THE
MANAGERS OF STOCK BANKING COMPANIES.
" Birmingham, Aug. 25, 1842.
" Sirs,—When the Bank of England Charter comes
under the consideration of Parliament, it must lead to
a discussion on the national currency.
" Having had my attention drawn to this subject
by banking engagements for the last 42 years, and it
being my earnest desire to see all banking establish-
meats put on the soundest and firmest basis, as I am
persuaded that continuance of prosperity in manufac-
tures and commerce can only thereby be maintained,
I am led to submit my reflections for public con-
sideration.
" The Bank of England has been compelled to find
all the specie for stock and country banks, and it has
therefore very naturally striven to absorb to that Cor-
poration the exclusive right of issuing promissory
notes. A late Act, which obliges stock and country,
banks to make a monthly return of the amount of
their notes actually in circulation, may by degrees
operate in favour of the object so much desired by the
Bank of England, and lead to that Company becoming
a much greater, if not the sole, issuer of notes.
" The object might be obtained by employing the
Bank of England as the agent, and by resting the
validity of the new note-issue on the Government,
and without the Government being exposed to any
hazard of loss.
" Possibly the late discovery of the Exchequer
fraud may have made currency quacks aware of the
danger of exposing the State to the issue of a national
paper note circulation ; and more probably so, when
these individuals shall have learnt that much of the
advantage of such note circulation may be obtained
without risk, and at a comparatively easy cost to the
Government.
" The monthly returns of the banks of issue having
declared the amounts of the notes outstanding of
every such bank, the Government might encourage
these banks to pay into the Treasury (there to be re-
tained so long as the bank shall continue a bank of
issue) one-fourth more than the amount of the
bankers' notes outstanding (viz. 50,0001. if the
monthly return be 40,0001.), to make up in a degree
for the notes that are held as a rest in every banking-
office, by an allowance of 3 per cent. interest to be
paid by the Treasury, by which the Government
would be borrowing the money at an average rate of
Exchequer interest.
" These payments might be made into the Trea-
sury by monthly instalments, and warrants might be
given, addressed to the Governor and Company of the
Bank of England, requiring the Bank to supply the
party with notes to be issued by that Company, de-
signated Provincial Notes of the Bank of England,'
made payable only at the Bank of England; but
within an engraved border in the centre of these
notes Caere should be, in print and in writing, the
place of re-issue, the local banker's date and number,
the firm of this bank, and the signature of a Director
or partner. Every bank, through its London agent,
should be obliged to clear its own re-issue of these
notes, when paid by the Bank of England, in the like
manner that it now does all of its draughts that now
get into the Bank ; and if it failed in doing so, it
should lose the privilege of issuing the provincial notes
of the Bank of England; and as the notes re-issued
by such bank be paid by the Bank of England, it
would be reimbursed by the Treasury.
" The adoption of this plan would set at liberty
some portion of the capital reserved to pay the
bankers' notes at the place of issue, as well as the
place where they are made payable in London ; and
every individual, poor or rich, would be quite certain
of receiving the full value for these notes.
" There could be no reason why the provincial notes
of the Bank of England should not be made a legal
tender to the fullest extent that Bank of England
notes are now admitted to be a legal tender. The re-
spectable banks of issue might find it advantageous to
receive the trovernment allowance of interest, and to
obtain, by the re-issue of their share of provincial notes,
whatever rate of interest money shall produce in the
market.

"Since the panic of 1825 and 1826, an Act has
passed which makes it legal for country banks of
issue to pay their notes, if presented in any sum ex-
ceeding the amount of 51., in Bank of" Erighind notes;
and for the better security of the Bank • of England,
it might be very desirable (should it not be judged
right to authorise the Baal: to pay the provincial notes
always in silver) to give to the Bank at least the
option of paying the provincial notes in gold or silver.
" The Bank of England, for the cost of providing
the provincial notes, and for the trouble of paying
them, might be remunerated by a commission of 10s.
for the first year on the total amount of the issue to
be paid by the Treasury, and of ss. afterwards on the
amount of these notes annually paid at the Bank of
England.
"Could a banking system on this principle be ex-
tended to Ireland, I have been told by an intelligent
Irish friend, that a great benefit would thereby be
conferred on that country.
"I have the honour to be, Sirs, your faithful and
obedient servant, " JAMES TAYLOR."
The Director of the French Customs has granted
Messrs. Ws horn and
Co. permission to send the bag-
gage of Indian passengers through France via Mar-
seilles, under their seal, provided an inventory be pre-
viously handed to them for transmission to the autho-
rities at the port of landing, who have received direc-
tions to dispatch them without being opened. A
route-book has been published by the same firm con-
taining useful information for Indian passengers.
CHRONICLE.—
The increase which has taken
place in the circulation of the Bank of England, has
been occasioned, to a great extent, by the amalgama-
tion of several private banks and joint-stocks within
the last twelve months into the capacity of agents for
the Bank parlour, and their ceasing as such to issue
anything except Bank of England paper. The de-
crease in the circulation of the private and joint-
stock banks is partly accounted for by the same cause,
but chiefly by the general starvation of trade. With
a constant glut of
money in tondon, there is still
little evidence of a greater supply of bills.
The circulation of the United Kingdom last year,
as compared with its present state, is as follows :

Bank of England
Private Banks
Joint Stock Banks „I
Chartered, Private,
and Joint Stock
Banks in Scot-

land
Bank of Ireland.....
Irish Private and
Joint Stock
Bullion in the Bank

Grass Circulation

1842.
Aug. 00.

20,361,000
5,150,628
2,823,000

2,674.835
2,831,7 W

1,632,617
9,570,000

1841.
Aug. 23.

17,928,000,
5,844,0'0
3,215,2531

3,074,3931
2,950,8751

35,463,920

1,868,3611
4,801,0001
34,891,18-,

Increase.

.2,423,0001

:4,769,0001

De -
crease.

689,372
392,253

199,558
19,125

582,7381

1235,744

The result is, that notwithstanding the increase of
2,423,000/. on the part of the Bank of England, and
store ofthe
of 4,769,0001. of addition to the bullion,
decrease of the notes in issue by the joint-stock and
private banks, has counterbalanced it in so much that
the whole currency of the United Kingdom is now
only 582,7381. greater than it was in August, 1841.

We shall see whether the flush of the October divi-
dends, and the exertions of the Thank to maintain
their dividends to the stockholders, will have the
effect of inducing an expansive.action on the part of
the country banks of issue. As far as figures go,
our previous views in regard to the currency are
likely to .be verified. The action of the Income-tax
will check the glut to be occasioned by
.the October
dividends, and the reduction of the rate of interest on
loans is calculated also to absorb it by anticipation
during the shutting.

DR. PAYERNE'S DIVING-BELL
EXPERIMENTS at SP/THEAD.

On Friday, the 2d instant, Major-General Pasley
went out to Spithead to inspect the operations against
the wreck of the Royal George, and, at the same time,
to perform a promise he made sometime ago to Dr.
Payerne, to afford him the means of proving whether
his invention for producing pure air, fit for the respi-
ration of man, and for supporting flame, without
communication with the external air, which he had
so often successfully exhibited in London, in the
diving-bell of the Polytechnic Institution, would be
equally efficient at Spithead. Of this great doubts
were entertained by the General, on his first inter-
view with Dr. Payerne, after having witnessed his
performance at the above-mentioned institution, for,
as he told the Doctor, though he was satisfied that he
could produce good air at any depth, the pressure of
from 12 to 15 fathoms of water at the bottom of the
anchorage at Spithead would compress the air in a
diving-bell so much, that though men might exist in
it, they would not be able to work to advantage ;
being nearly up to their necks in water. Therefore,
unless the Doctor could get over this difficulty his
ingenious and novel invention would not be attended
with any practical benefit, at least in deep water, as it
would not dispense with the necessity of still using
an air pump to expel the water from the lower part
of the bell, according to the system hitherto in use.
Dr. Payerne, who at that time was not possessed of
any experience in diving, his first attempt having
been made at the Polytechnic Institution, was not
prepared for this difficulty ; but, having afterwards
fully considered it, he adopted an, expedient for re-
moving it, which proved completely successful, on
giving it a fair trial at Spithead, as we shall now pro-
ceed to relate. This consisted in filling four iron
cylinders, with condensed air, which was forced into
them by a small air-pump until the gunge proved that
the pressure was equal to nine or ten atmospheres.
These cylinders were four feet long, and about a foot
in diameter, with hemispherical ends, being the same
that had been used for containing condensed gas
during the period that the Portable Gas Company was
in operation. Each of these cylinders held about
three cubic feet of compressed air, and the whole
were lashed to the bottom of a wrought-iron diving-
bell made two years ago by. Mr. Taplin in Ports-
mouth dockyard, according to the dimensions pre-
scribed by Major-General Pasley, to be used over the
wreck of-the Royal George, if required.; but which
had not yet been done, as it was found, contrary to
previous expectation, that helmet-divers were far
more efficient. than bell-divers could possibly have
been.- When the preparations were completed Dr.
Payerne took his seat in the diving-bell, accompanied
by Major-General Pasley, who, having full confidence
in the goodness of the Doctor's air, but less in his ex-
pedient for keeping out the water from the bottom of
the bell, took the precaution of putting on a water-
tight diving dress, offering another to the Doctor, who
rejected it, in the belief that he would be able to keep
the bell completely dry. They had, however, scarcely
descended more than 10 or 12 feet below the surface,
when the water came in upon them so fast that
the Doctor requested that the bell should be hauled
up out of the water, as he said he was sure that it
must be leaky. This was done accordingly, and on
letting it down empty his assertion was found to be
correct, for the air issued rapidly from the top of the
bell, in consequence of the cap over the hole, through
which air would have been forced down in the common
mode of using the bell, not having been screwed on
tight enough. This defect being remedied and the
bell let down empty a second time, there still appeared
a slight leakage from the lower part of it, which was
so inconsiderable that Dr. Payerne and the General
went down a second time, the former having put on
a diving dress also. One of the air cylinders had
been emptied in their first descent, so that only three
were now available, the contents of which they let
into the bell by turning the cocks at the end of each,
So that when they descended to the depth of 121
fathoms or 75 feet, the water only stood about six
inches high in the bottom of the bell, when they were
hauled up -by mistake of a signal before they had
quite reached the bottom. After this, Lieutenant
Hutchinson, the executive engineer employed at Spit-
head about the Royal George, and Mr. Hardiman,
Dr. Payerne's assistant in the mechanical and engi-
neering branches of construction connected with his
inventions, went down together, but as the slack tide
was nearly over, they would not wait to have the
cylinders filled again with compressed air, which
could not have been done in less than an hour. They
were, therefore, obliged to make the signal to stop
lowering, after they had only descended twenty-three
feet, the bell being at that time nearly half full of
water, which was gradually increasing upon them,
owing to a small leak at one of the rivet holes in the
lower part of it. Such were Friday's proceedings, at
which a number of naval and military officers and men
of science attended, and which were also honoured by
the presence of many of the fair sex. Amongst the
fornrier we observed Admiral Sir Edward Codrington,
Rear-Admiral Hyde Parker, Major-General Sir H.

Pak enham, Sir I.Brunel,Capt.Dickenson,R.N.,whois
himself a distinguished sub-marine operator, having
recovered the lost treasure of the Thetis frigate, on the
coast of Brazil, some years ago, in a manner which
did him and his gallant seamen the highest credit ;
Captain Codrington, R.N., Dr. Richardson, &c. The
French General, Count D'Henin, and his amiable
daughter, were also present, besides numerous specta-
tors from Hampshire and the Isle of Wight. On
Saturday the same experiments were repeated, but in
the presence of fewer spectators, and " the diving-bell
had by this time been made perfectly water-tight. Dr.
Payerne and Major-General Pasley went down twice,
first to the depth of twelve fathoms and a half, when
they were pulled up by mistake of a signal before they
reached the bottom, to their great disappointment.
After :the four cylinders were filled again with corn
pressed• air, which was done in about an hour,
they descended a second time, and as the men
above had strict orders not to stop lowering until the
diving-bell reached the bottom, and not to haul it up
again, unless they pulled the signal line three or four
times, Dr. Payerne had the satisfaction of getting a
small piece of wood from the wreck of the Royal
George, after which they ,made the signal to ascend.
Another experiment, still greater interest, was
tried at the suggestion of Lieut. Hutchinson, who
went down without any air cylinders, accompanied
by Mr. Hardiman, having the end of one of the
diver's air-pipes with them, through which air was
forced into the bottom of the diving-bell by one of
the small pumps which usually supplies air for a
helmet-diver. By means of this pump the water was
expelled from the lower part of the diving-bell, and
replaced by condensed air, which enabled them to
descend to the very bottom, there being no cylinders
to prevent the bell from taking the ground, as in the
former experiment; and Mr. Hardiman also brought
up some small relics from the wreck. Some uneasi-
ness was caused, both to them whilst at the bottom
and to the men above, by its becoming impossible to
communicate with signals, in consequence of the
signal line becoming entangled with the bell rope, by
which the bell had been let down.

The result of these experiments is, that both Major-
General Pasley and Lieutenant Hutchinson expressed
their high opinion of the merit of Dr. Payerne's in-
vention, as applied to the diving-bell • for they con-
sidered that the air they breathed in the bell was per-
fectly good; and the whole apparatus for purifying it
Was contained in a case not larger than a common
portable writing-desk, which gives no trouble but that
of turning a small winch er handle oceasionall, and
as, besides water, two very cheap and simple ingre-
dients only are used, the manipulation requires no
science on the part of the person in charge ; and,
when the diving-bell is once filled with compressed
air, either by letting it escape from vessels previously
filled with it, as in the first experiment, or by four
men pumping for less than half an hour, as in the se-
cond experiment, no more pumping is necessary, as
the air in the bell never requires to be changed. In
the common mode of working the diving-bell, on the
contrary, a powerful pump, manned by six or eight
men, would be required at Spithead, which must be
kept constantly at work the whole time that men are
down in the diving-bell ; and this incessant pumping
is so laborious that from twelve to sixteen men, work-
ing in two reliefs, would be necessary for the purpose
of expelling the water.
It is to be remarked that the French have for many
years speculated upon the practicability of submarine
boats, as we know by having seen French pamphlets
on the subject. We' are informed that one of Dr.
Payerne's countrymen, the Marquis D'Aubusson, has
been engaged in this object for several years, and
that after planning all the other arrangements to his
own satisfaction, he could not satisfy himself as to the
means of supplying the men in his submarine boat
with air. 1)r. Payerne stated, that a conversation on
the subject of the Marquis D'Aubusson's plan with a
person who mentioned it to him, first induced him to
consider whether it might not be practicable to pro-
duce pure air under water, without any communica-
tion with the atmosphere, and that this led to the in-
vention which he first tried at the Polytechnic Insti-
tution, and of which, as applied to the diving-bell, he
has proved the safety and superior efficiency at Spit-
head.
The diving-bell is necessary in so many works ,
of importance, which either cannot be executed at all,
or not so well, without it, that Dr. Payerne, by this
most ingenious invention, has rendered a great service
to the civilised world.