The Sun.
London, England, 1842-05-07 00:00:00

An outcry against my proposal will be as certain
as the sun's rising, but what of that ? We are to con-
sider the interests of the nation, and not that of indi-
viduals, and most of whom (private companies) never
paid one-third of their nominal capital, held out, in
truth, to gull the people, and it may be called dis-
graceful and dishonest to permit such trading, and to
such an extent, with a fictitious capital.

By a return made to the Stamp-office in 1836, there
were 89 joint-stock banks in England, and 24,915
partners in them. To prevent them and all banks
from issuing paper money any longer, is, after all,
only taking from them the power of coining, which is
the prerogative of the Crown, and if they choose to
coin gold, making the sovereign of only half value,
they would be guilty of felony, although in issuing
such coin they might pay 10s. as 1/., whereas they
now coin a thing and call it a pound, that is in reality
of no value whatever. And if any one choose to
apply this to a real national paper, such as I propose,
my answer is, it is as secure as the funds, whereas, in
point of fact, all the banks in England might become
bankrupt without the nation being in difficulty. If
the above-mentioned joint-stock partners and pro-
prietors of banks in'England and Ireland amounted to
30,000 individuals, and were ruined by not being
allowed to coin in future, is that any reason why the
nation is to be ruined, to enable those persons to spe-
culate, to coin, and furnish fictitious money, in order
to keep up monopolies, and thus plunder the people ?
I say, no ; and let those bankers be what they ought
to be, care-takers of deposits and discounters (but
with national money)—in short, what bankers were
fifty years ago, and as Messrs. Coutts, Snow, Child,
and very many bankers now are—real bankers, not
coiners.

It would be cruel now to indict them as coiners,
and they are probably protected by some Act of Par-
liament or other, yet coiners they are to all intents
and purposes, and of very base money.
It may be thought that if my plan were adopted,
or, in other words, in plain English, no paper money
allowed but that actually issued by the Government,
what will you do as to post-bills, with which they
might still inundate the country ? I answer, under
strict regulations post-bills are an accommodation,
and could not well be done without ; but as to any
dangerous issue of them, if the Solicitor of the Trea-
sury does not know how to draw up an act to prevent
it, he is very unfit for his situation, and there are
plenty to be got who, no doubt, are as able as they
would be willing.
The nation requires a currency of far more than
can be supplied in metallic currency, and whatever
must be made in paper must be in future strictly
national, and only issued under the authority of the
Crown and Parliament, and by the Lords of the
Treasury, who are to be responsible. If it is con-
tended that in some measure my proposal is a return
to legal tender, the answer is plain :—The nation has
not gold and silver enough to carry on its trades,
&c. ; of course some paper must be issued; then if
we must have one, is it not better it should be a
national one, than by companies or individuals ? and
' such ought to be a legal tender, and if not made so
the bankers would declare a regular paper war against
the Treasury ; but the exchanges will also be brought
into the field by the opposers of a Government issue.
But I cannot see cause why a nationel issue of paper
should affect them more than what I may call the
present private one does. And as to the nation pay-
ing 30,000,0001. of its debt to the Bank, &c., as stated,
in paper, it must be recollected that the loan or ad-
vance was in paper, and the paper I would pay them
with would enable them so far to pay their debts to
others.
I now end as I began—no longer any partnership
between the Treasury and the Bank of England.
I am, Sir, your obedient servant,
G. COCKBURN.

CORONER'S INQUEST.—Thursday afternoon an in-
quest was held at the sign of the Wade's Arms public-house,
East India-road, Poplar, before Mr. Baker, the Coroner, on
the body of Charles Harris, aged 15 years. The deceased
was employed as a labourer at toe yard of Messrs. Green, Wi-
gram, and Green, of Blackwall, ship-builders, and between four
and five o'clock on Wednesday afternoon, was in a new ship,
now being built, and in attempting to pass from one stage to
the other he slipped, and fell to the ground, from a height o!
between 30 and 35 feet. There was no one near him, and the
occurrence was purely accidental. He died nearly instantly,
his death being caused by injury of the brain. Verdict, " Ac-
cidental death."
We regret to learn that " crow's feet" have been
scattered in the neighbourhood where the recent assemblages
of nailers took place, for the purpose of laming the horses o
the troopers. The distress of the labouring classes in the
neighbourhood of Stourbridge is deplorable, and the Board o
Guardians have been daily distributing relief in large quantities
of bread.— Worcestershire Chronicle.
St. LEONARD'S-ON-SEA.—The following unfortu-
nate accident with lose of four lives, took place immediately oif
the Royal Victoria Hotel, on Wednesday morning :—A small
sailing-boat, containing an old and experienced boatman of
the name of Stevens, a footman in the service of the Rev. Mr.
Pettit, of 65, Marina, and a footman and page in the service
of Mr. Dawkins, of 70, Marina, left this town this morning
at 5 A. sr., for a sail ; at 7, at about a mile from shore
she was seen turning round for the shore, and immedi-
diately (as if from a sudden gust of wind) to fall over upon her
side and sink. A boat was immediately put off from the
shore, and several others followed; but were unable to dis-
cover anviliin,g belonging to the boat or c. ew. Up to nine
P.M., although unceasing exertions have been and are making,
nothing has been picked up or any trace of the boat or bodies
discovered. It is singular that one of the coast guard on duty
saw the boat go down, but did not see any of the crew appear.
Stevens was known to be a go cd swimmer.
CITY IMPROVEMENTS.—The Fleet-street end of
Fetter-lane has at length been barricaded, while the houses are
about to be pulled down to effect a communication of a proper
width with Holborn and which will join the western end
of the viaduct to be erected from the top of Holborn-hill (leav-
ing St. Andrew's Church to the north) across Shoe-lane, Far-
riugdons street, through Green Arbour-court to the Old Bailey.
On Sunday last a female, nearly eighty years of
ago, went to the hospital of La Pitie to see her husband, to
whom she had been married 47 years, and who was a patient in
that establishment. On her arrival, the poor woman, whose
anxiety to see her husband was excessive, was informed that he
had just died. The shock was too great for her ; she fell down
in a fit, and in a few moments expired.
RAILWAY Dury.—The proposed commutation by
the Chancellor of the Exchequer of the railway passengers' tax,
of one-eighth of a penny per head per mile, to a general pay-
ment of 5 per cent. on the grosss receipts, is expected to cause
a loss to some of the great metropolitan lines, but to prove of
the greatest benefit to others, especially the Scotch, as the cheap
carrying lines, having to compete with steam-boats, have fre-
quently never realised any profit whatever. The alteration
will moreover, enable the companies to increase the accommo-
dation to the third class passengers, and perhaps to add a fourth
class.
ZOOLOGICAL SOCIETY.—The ordinary monthly
meeting for general business was held on Thursday afternoon at
the rooms of the Society in Pall-mall. The Report of the
auditors and council given in at the anniversary meeting was
read, from which it appeared that the total income of the
Society for the last year was 11,691/. 15s. 11d., and the ex-
penditure 10,931/. 17s. sd. The income of the past year, com-
pared with that of 1840, gave a decrease of 1,1201. ss. 6d.,
whilst the receipts from the annual subscriptions were less by
5301. 183., and under the head of garden sales there was a fall-
ing off of 151/. Bs. 6d.
A very serious accident occurred on Wednesday to
Lieut.-Colonel Acklam, late an officer of the Ist Dragoon
Guards, at the works of the Hungerford Suspension-bridge.
The Gallant Colonel had gone to one of the coffer-dams of the
proposed new bridge for the purpose of inspecting the new.
invented steam machinery for pile-driving, and while in the
act of passing along a plank, unfortunately lost his footing, fell
upon another plank, from which he rebounded, and received
in his further fall injuries of the most serious nature, having
had the skull fractured and the jaw-bone broken. The unfor-
tunate gentleman, who is 70 years of age, received immediate
medical attention, and was without delay removed to his lodg-
ings in Jerrayn-street, St. James's, where he lies in a very
precarious condition.
WILL OF THE LATE DUKE OF CLEVELAND, K.G.
—The wid of the late Harry, Duke of Cleveland, has been
' just proved in the Prerogative Court by the executors,
Henry Lord Brougham and Vaux, Thomas Metcalf, and
G. B. Wharton, Esqrs. The personal property has been
sworn under 1,000,000/., upon which a stamp duty of 13,0001.
has been paid. The property has been bequeathed pr.n-
cipally to his family, consisting of the present Duke,. Lords
William Poulett and Harry Vane; Ladies Laura Meyriek
( who is abroad). Arabella Arden, and Augusta Milbanke,
with the exception of some legacies and annuities to his
servants. Lord Brougham and his executors are bequeathed
1,5001. each. The late Duke's personal estate is the largest
left by any Peer of his elevated rank since the late Duke of
Sutherland, whose personal effects were sworn as amounting
to more than 1,000,000/. ; all sums beyond which amount are
not subject to probate duty. The Dowager Duchess is hand-
somely provided for under the late Duke's will.
NEW SALisIoN BILL._The Bill introduced into
Parliament by Mr. Ellice, jun., provides, we understand,for the
anomalous case of the rivers Ness, Shinn &c., where, owing
to the water proceeding from deep lakes, and bring of a
warmer temperature, clean fish abound at a very early period
of the season. The best salmon are found in the river Ness
abount Christmas, yet we are not allowed to begin fishing before
February ! Mr. Ellice proposes to give the proprietors of the
fishings the power to regulate the period of fishing, provided
always that the close time shall be of a certain fixed duration,
to preserve the breed of salrnon.—inverness Courier.

The following amusing anecdote is related by the
Independent of Brussels. One of the copying clerks in the
Belgian w ar-office, more remarkable for his manual dexterity
than for the strength of his intellect, was desired lately to
make a fair copy of the petition of a widow of a general
officer for a per sion. On coming to that part of the petition
in which, speaking of the disease of which the general died,
she had used the words " devore par un cancer," the clerk,
finding the letters ce in the last word to resemble an a, wrote
eanar, instead of cancer. The Minister, having read the copy,
sent for the clerk, ar.d good. Immouredly pointed out to him
the word canar. The latter full of contusion, but as far as
ever from discovering his real error, exclaimed, " I beg pardon
for my bad spelling ; I see I have omitted the letter d," and,
taken his pen, he made the addition, thus representing the
deceased general to have been " devori par un canard " (de-
voured by a duck instead of a cancer ) 11. ten withdrew
leaving the Minister convulsed with laughter.

AMERICAN COTTON TRADE.—A statistical table of
the cotton manufactures of the United States show an immense
increase in the period between 1831 and 1840: that in capital
having been 7,299,317 dollars ; that in factories 198 ; spindles
810,824 ; yards of cloth, 182,668,129 ; pounds of cotton,
45,095,624 ; value of manufactures 18,280,143 dollars • hands
employed, 4,589; and amount of wages paid, 857,912 Aollars.
In the imports of cotton goods there had been a corresponding
decrease; the general result showed that they had not increased
with a decreasing and low tariff, while home manufacture had
increased 75 per cent., although the populatica had increased
but 33i per cent.
A letter from Aldenburg, 24th ult., in the
German Journal of Frankfort, states that the Prince Royal
of Hanover, who has arrived at that place, on the occasion of
the celebration of the anniver•ary of the marriage of the reign-
ing Duke of Saxe Aldenburg, is to marry one of the Duke's
daughters.