The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-10-26 00:00:00

COURT AND FASHION.

-.-
The Court still remains at Windsor, and there has been
little variation in the ordinary routine of court life since
our last. The Queen, the Prince, and the royal family
are well, and have taken their usual out-door recreation
as the weather has permitted.
On Tuesday, Prince Albert, the Duke of Cambridge,
and the Duke of Wellington (who had joined the royal
party) enjoyed the sport of shooting. After lunch, the
Duke of Cambridge took leave of the Queen. -The Lord
Chief Baron (Sir Frederick Pollock) and his brother,
General Sir George Pollock, arrived at the castle in the
evening, on a visit to her Majesty.
On Wednesday, the Queen and Prince Albert took their
usual early walk. Her Majesty rode out in the forenoon
in a pony carriage and four, attended by the Duchess of
Sutherland. His Royal Highness Prince Albert went out
shooting this morning with his Serene Highness Prince
Lowenstein. The Duke of Wellington, the Right Hon.
Sir Frederick Pollock, and General Sir George Pollock
left the castle. The Countess of Desart arrived, and suc-
ceeded the Countess of Gainsborough as the lady in wait-
ing to the Queen.

Lord Stanley has returned to Knowsley from New-
market. The Hon. T. Eden is at present on a visit at
Knowsley.

The Vuke of Devonshire has left Hardwicke Hall, Der-
byshire, for Wynyard, near Stockton-on-Tees, on a visit
to the Marquis and Marchioness of Londonderry.

DISINTERESTEDNESS AND CONSISTENCY OF

OUR GREAT BULLIONISTS,

The Bankers' Circular, in a recent article upon the

currency question, gives the following striking sketch of
the rise of two colossal fortunes upon a paper-money
foundation and with paper-money materials, and the
subsequent conversion into gold of the +..” + EI....C.UreS thus
reared

" The revolting part of the subject is, that which re-
lates to the personal position, in connexion with the ex-
isting money law, of the two men who mainly caused the
infliction of all the ruin and misery under which the peo-
ple are sinking._

" Sir R. Pe—el and Mr. S. J. Loyd are two persons of
enormous wealth produced by an excessive use of credit.
On starting in life their fathers were poor men of great
faculty, bold enterprise, and good conduct. They lived
to be ranked among the most conspicuous millionaires'
of their country by what their sons would now call the
unwholesome use of artificial credit. Sir R. Peel lived
and carried on his works at Bury, in Lancashire ; he
there issued £1 notes to pay the wages of his workmen.
He also established a warehouse in London for the sale
of his goods, and on that warehouse he drew what were
then known in Lancashire as ' pig upon bacon' bills, at
two and three months' date, to pay for the raw materials
of his manufacture. He forced this credit to such a de-
gree as for a time to deprive himself of the means of
paying with punctuality the duties on his calicoes, and
the officer of Excise held possession of his premises in
Milk-street for six weeks for arrears of duties.
" When Messrs. Jones and Co., of Manchester, com-
menced the banking business there, they drew bills at two
and three months' date on some relatives of the same
name, who, we believe, carried on their affairs in Wat-
ling-street. When that house retired from business,
Jones and Co., of Manchester, opened an account with
Vere and Co., bankers, in Lombard-street; and the
amount of bills drawn from Manchester on this account
was so large and extraordinary as to alarm Vere and Co.,
who hastily resolved to refuse to accept them, and they
were dishonoured for non-acceptance, Vere and Co. hold-
ing, we believe, all the time ample security in the shape
of Lancashire bills for all that had been drawn upon them.
In these circumstances Jones and Co., of Manchester,
being in a thriving condition, having a prosperous busi-
ness,nd being necessary to the trade of the district, on
cons andg
their friends and customers who were called
to deliberate on the case, were at once advised to open
their own house in London, and be no longer dependent
on the caprice of the timid and cautious London bankers,
who know nothing of the great power and salutary uses
of mercantile credit. This advice was adopted, and such
is the firm of Jones Loyd and Co. which now stands at
the head of the banking interest' of the city for wealth,
skilful management, and, we believe, yearly professional
income. What our dogm atical currency reformers, Mr.
Samuel Jones Loyd and Sir R. Peel, would now call
artificial credit forced to excess,' was the foundation of
t his eminent banking firm ; and we should like to see a
return made to parliament of the amount of ' pig upon
bacon' bills drawn upon it from Lancashire in every year
from 1795 to 1847 inclusive."

It would be instructive if we could know how much
one of these worthies—Mr. Samuel Jones Loyd—realises
out of every successive money pressure, which their joint
plan of currency regulation creates. Of course it would
be illiberal to entertain the supposition that the right
hon. baronet ever trades at all. lie looks on at every
periodical turn of the screw which he has invented to
crush the national commerce and prostrate its industry—
which is closing our mills and our mines and our banks,
ruining our merchants and our manufacturers, and pau-
perising our labourers—with stoical indifference, so far
as regards pocket interests. But the millionaire banker,
as he sees the capital raised by other men pouring into
his own coffers,—as he gathers in lands, houses, railway
shares, and the varied produce of years of enterprise and
industry, caught by the golden bait which he has assisted
in setting,—cannot reasonably be considered so disinte-
rested a being. Sir Robert is only the philosophic doc-
tor, watching in the writhings of his unhappy patient the
operation of some newly-discovered nostrum. His coad-
jutor sees in every convulsive effort of the patient a fee
slipping into his hand.

THE MONEY PRESSURE.
THE BANKS AND THEIR DEPOSITORS

[The following was published in a second edition of the
STANDARD of Tuesday last, and as the statements are

•
of abiding application,, we repeat them here.]
We have no new disasters to record as having taken place
this dav, if, however, we except the fact that the Liverpool
Banking Company have solicited from their depositors
their forbearance for a few days, until the severity of the
present pressure is overcome. lye are not, however,
aware of any parties being refused payment when insist-
ed upon. The feeling amongst merchants and other
classes continues in a very feverish state ; and rumour is
busy with her hundred tongues. Nothing definite has yet
been arranged with respect to the relief of the Royal Bank,
whose stoppage we announced this morning, from its present
state of inactivity. Expectations, however, are still en-
tertained that some assistance will be rendered to it, but
on what terms, or in what shape, has not transpired.
We learn that very great exaggerations are abroad with
Ipect to the position of this concern. A local contem-
, after referring to a rumour that one house has
been accommodated to the extent of £400,000, and that
two other houses have had between them an amount
which makes up in all nearly a million of the capital of
the bank, states, that whtlst giving such great faci-
lities to these three houses "no extreme liberality has

porary,