The Illustrated Usk Observer and Raglan Herald

PAUL RATCLIFFE'S ADVENTURES. A STORY OF WILD LIFE. CHAPTER I IT has been said that there is no rule without an ex- ception," and as authors generally make themselves the hero's in travelling adventures, I shall form the exception in this case, and tell the reader much more about my noble companion, Paul Ratcliffe, than of my- self. To him were united all that was bold and generous, with a disposition so truly amiable that it does my heart good to recall our former friendship. In speaking of myself, I am afraid to confess that years ago I may have been classed amongst the young Hen termed" fast" in London life, and, like Charles Mathews, was used up that is to say, I had seen everything worth seeing in London and on the European Continent, and longed for something new. My com- panions were all getting occupation in some way or other; I alone seemed to remain an idler. What should I do to amuse myself ? How get excitement Which would rouse my dormant energies ? At length I determined to go to America. Arrived in New York, I found society constituted for the most part of the Same characters I had seen in England. Billiards and cigars appeared the only things worth living for. At length I made the acquaintance of Paul Ratcliffe, whose toanly air and deep-toned voice at once convinced me that he was no ordinary individual. After a few hours' acquaintance I told him in a tone, that he often imitated afterwards, that I was awfully dull; being killed every [day by ennui; that there was nothing that a fellow could do," &c. Come with me, old chap," was his reply, I'll find you excitement." I'm your Moses," I answered. Tell me what's Jour game P Well, it is game, and no mistake, that Im after In the wild prairies. What say you to join a jolly Party to the Far West ? To hunt game, do you mean P I said. "Well," he replied, we aro not going in pursuit of the ridiculous; but we are going to live a wild life for time; have a look at the few aborigines that are left in this country, and find out valuable tracts of land that are not marked on any map." I thought there was something noble in being a dis- coverer, and how proud I should be to have the name of Edward Beechnut flourishing in the papers as one of the discoverers of a fertile tract of land that should give employment to thousands in the cultivation, and Perhaps bring wealth to the first travellers who had reported it. The bargain was soon made for such a trip, and half-a-dozen of us, well horsed, proceeded on our way Without any special plan or design. We travelled as far as possible by rail, then mounted our horses, and in a few days reached a country where man ap- peared to have little habitation. When we arrived at the Oregen territory, we were joined by three more of Paul's friends who lived near to the locality we were entering upon, and who knew something about savage life. The glorious freedom of the boundless prairie!" e:tolaimed my enthusiastic friend, Paul Ratcliffe, as he and I, well mounted on two fleet horses, went dashing Over the almost level plain, in quest of some moving objects, believed to be buffaloes, which we had seen disappear behind a gentle swell in the far distance. We were both young and inexperienced, and it was OUr first journey to the Far We?t. We had been tra- velling some days beyond the last border settlement With our Oregon friends, from whom, without taking Counsel of our elders, we had slipped off, for the pur- pose of having a little wild sport to ourselves, not beaming of the perils to which we were about to be CXDosfid. it was a beautiful day, neither too warm nor too cold, with the sun shining brightly over the mighty Plain, and all nature filling our hearts with that buoyant, bounding gladsomeness, which is seldom experienced when mature years have crowded in, along With their wisdom, the cares, sorrows, and perplexi- of life. On we went, at high speed, our horses neck and tJ.Qck, and seemingly as full of the enjovment of the "Port as ourselves. "It will be a good joke," said I, if we two green- .°*tis, as the old hunters are pleased to call us, bring 111 the first buffalo meat oar partv gets on the route! Ay, that it will, Ned! cried Paul, enthusiastically, Swinging his hat and adding a joyous hurrah. And do it too, Ned, and put to Bhame the men that Jailed yesterday. Greenhorns, indeed! We'll show chem what we are before we're done with them tturrah for the glorious freedom of the boundless Prairie! Thus we bounded on, full of spirit. As we rose a gentle SWOll, I gIa.1:1o,od off 4>o-rr-ebx-cL -bhc lo",s tvain in -101.0 distance, and fancied I saw some one making signals to us. I called my companion's attention to the fact, a&d we both reined up our horses, to see if it had any Serious meaning. "I believe it is a flag," said I, but I cannot make out the colour. It may be red, and, if, so, it indicates danger, that being the signal agreed upon for that pur- Pose. Doubtless it isjj intended to recall us. That being granted, the question >is, shall we go back or forward ?" "I see no danger," returned Paul, sweeping the Whole plain with his quick, eagle glance, and so I am for pushing on. Perhaps," he added, with a light laugh, it is some old granny, who fears we are getting out of leading strings, and wants to give us a lecture on the moral impropriety of our rashness. Or, better yet, some one of the keen-sighted hunters may by this time have discovered our game, and thinks it should be left to his wisdom and experience to run after and *oae. It would not of course be pleasant to him to be Put to the blush by the success of a couple of such hot-headed youths, to say nothing of our being so un- sophisticated and unseasoned, and just for that reason I am for pushing on." On it is, then said I; and away we went, the gentle swell we were now descending gradually Shutting us out from the view of our friends behind. There was now a long stretch of almost level prairie before us, and in the distance that gradual rise of ground, from the summit of which we had seen what We had supposed to be buffaloes. We made directly *°r this, but it took us a good half hour to reach it, and then we were disappointed in ,not seeing a single one of the animals of which we were in quest. There Was still another gradual descent, leading to the bank a stream, along which was a green belt of trees, hushes, and grass, and, thinking the game might be Concealed in this, we spurred on with a merry shout. &.s we Beared it, however, we were surprised and farmed by a small body of Indians bursting out from a, thick copse directly before us, and greeting us with a series of wild terrific yells. Instantly we reined up our horses and wheeled to fly, but to our horror dis- covered that another party, which had been concealed l°Wer down the stream, had already gained a position 110 cut off our retreat. There seemed nothing left for 1),1:1 but to surrender or die fighting. These mounted Indians, I may remark here, had been mistaken by us for buffaloes, and, in our eager- ^ess to do something wonderful on our own account, ^e had suddenly dashed off from our friends and de- nned to heed their subsequent warning, and now we yere about to reap the reward of our inexperience and 1,1 cautiousness. „ VI We are caught in a trap," said I to my companion: what is to be done? We may as well die one way as another," he re- Plied, with compressed lips and knitted brows, as he up his rifle, so as to cover the nearest savage, yhcj instantly threw his body over one side of his ho-se so as to be concealed by the animal, and dashed ^Wiy to a safer distance, the others also falling back luiiikly and stretching off more in a circle. Ttis relieved us of immediate apprehension, and Savt us a few moments to consider our chances. II They are treacherous cowards," said Pan', "and )nly hope is that we may keep them at a safe Oista*ce till we get upon the swell where our friends Can ate us." „ It will have to be done without firing," returned I; for it we empty our pieces, they will take advantage 05: that time to rush in on us." Atl3ast we must not both fire at the same tine," I joined Paul; "one of us must be constantly loaded. nd we must keep our eyes well about us, for they are all expert horsemen, and any one of them may dart in on us ana send an arrow through us before we are aWare. Lueky for us they have only bows, arrows, Ua spears! for a musket ball would reach us from a sweater distance." -Now Paul Ratcliffe talked like an old Indian Unterj thoughj like myself, he had never seen a hos- Indian before, although he had travelled far and iQe, but had gathered all his information from J °°ks. It was equally tnizea however, that the re- I corded experience of others, under similar circum stances, served us in lieu of perilous adventures of ou: own. The Indians, having now all drawn back to what they seemed to regard as a safe distance, began tc manoeuvre to get the best advantage at the least risk, Some three or four of the younger, with load whoops, would suddenly dart in towards us from the outer half circle, and, coming on with all speed, with their bodies swung over their animals so as to be almost concealed, would thus approach to an alarming near- ness, and then, quick as lightning, wheel their per- fectly trained steeds, let fly their arrows from under their necks, and dart away again, to give another party a chance to perform the same daring feat. One object was to wound us, and another to draw our fire; and so true was their aim, that, out of a dozen arrows, six at least cut our clothes and grazed our flesh, though, fortunately, without inflicting any serious wound. This is getting to be pretty warm work," said Paul. It is just possible the scoundrels may hit us, if we sit here all day; and I'm for doing something, if it's only to run away." Bat where can we run to that will not make matters worse ? Oar horses would hardly equal theirs in a dead race, and there is a stream of water behind us." It may be fordable, though," rejoined Paul, and at least the oover of the wood will be advantageous to us. Come on!" We wheeled our horses and dashed into the wood, and with loud yells the whole party of Indians bore down toward us. The stream was not deep, but its banks were steep and muddy, and it would have been risking too much to have plunged into it with our foes so close behind us. So we wheeled again, face toward them, and found ourselves a good deal pro- tected by the trees and bushes around us. Now, then, to try my luck," said Paul, bringing up his rifle and taking a quick sight on the foremost savage. He fired, and down dropped the Indian, shot through the head, the only part of him visible. Something like Providence must have directed his aim, for the best marksman in the world could not have calculated upon such a result with certainty, considering that the horse of the savage was charging down upon us at full speed. With the wildest yells of rage and dismay, the other Indians let fly their arrows at random, and then wheeled and retreated to a safe distance, the riderless horse following his companions and leaving his master dead on the ground. Thank God for that! cried Paul. "Now then to cross the stream before they return, dash away and reload! There was a spot a. little lower down where we thought we might venture to ford, and in a few seconds we were there; and, in less time than it takes me to tell of it, we were safely on the other bank. Then away we flew, making our noble animals do their utmost. The Indiansdidnot seem to comprehend that we hadescaped till they caught a view of us beyond the belt of wood, riding for our very lives; and then, with the wildest screeches and yells, they dashed down to pursue us. In their headlong fury, they did not seek for a proper ford, but at once plunged into the stream and floundered up against the steep, muddy bank, where they lost so much time in getting upon the hard, dry earth, that, when they did so, we had got at least half a mile the start. With this start," said Paul, who, giving his horse the rein, proceeded to reload his rifle, I think we can double on the blackguards, and if we have no difficulty in crossing the stream, I think we can get in sight of our friends before the yelling hounds get near enough to trouble us." Let us make for yonder swell, then," said I, point- ing off across the stream; "that seems our best chance." A little further on this course, to draw the savages well out after us," returned my companion, and then for a quick double, and Heaven help us:! We rode on a few minutes longer, putting our fleet horses to their mettle. We looked back occasionally, and saw the whole body of savages ooming with all speed; but could not perceive that they gained on us sufficiently to cause any frt:1",h ct-lfirni. "Now, thenJ" said Paul; "now, then, for it! If we are lucky enough to hit the stream where we can easily, recross, we are saved; if not, farewell to all our hopes of life We turned and made for the river, fairly burying our rowels in our horses' flanks. They did their best, the noble brutes; and their best was needed. The Indians, now comprehending our purpose, strained every nerve to intercept us, yelling furiously. Their distance from the point at which we aimed was but little more than ours, and it was a terrific ride-for life on our side-for revenge on theirs. On, uu wo oped, bioatUooo with hope and fear; and on they came, like flying fiends, every moment draw- ing nearer, nearer, and nearer. At last the stream was close before us, and we saw that we could cross it if we could only reach it in time.; but the nearest Indian was scarcely more distant than ourselves, and many others were close behind. Sud- denly Paul raised his rifle, and, barely glancing across the barrel, fired. Down dropped the Indian's horse, and the others ehied, and some confusion followed. It was our salvation. In ten seconds more we had cleared the stream, and with wild shouts of joy were making for the swell, where we saw a party of our friends coming to our rescue. Thus we were saved from almost certain death, and I have not lived long enough since to forget the lesson f we that day learned. (To be continued.)

A RAMBLERS JOTTINGS. To prove how many Londoners are out of town, I was told by a barrister the other day that having attended the Sheriffs' Court in Red Lion-street professionally, a jury was about to be empannelled, and out of sixteen jurors that had been sum- moned, the excuse for non-attendance of eleven was out of town;" and in consequence the sheriffs' sitting bad to be adjourned. I attended at the House of Lords the other day to hear the prorogation of Parliament. Being admitted to the Reporters' Gallery, I looked around me, trying to recall the splendour of a Royal Opening and a Queen's Speech; but now Westminster Palace (as it is termed) looked dull and melancholy, leaving an impression on the mind that upholsterers and workmen must be somewhere about, laying their desolating hand upon the bright ornaments that one was accus- tomed to see there. The huge ornamental candle- sticks were wrapped in brown holland," and the woolsack was covered with the same material, whilst a musty smell came upon your nasal organs, such as you would find on entering an unoccupied house. Presently two attendants, with black coats and white neck-ties, made their appearance, and creeping stealthily, like undertakers' men, to the throne, they set aside the covering, when the Royal seat of Queen Victoria shone resplendently amid the general gloom. At two o'clock precisely Lord Cranworth, the present Lord Chancellor, attended by his mace and purse bearers, made his appearance, and two clerks, in wigs and gowns, took their seats at the table. The Lord Chaneellor, for the nonce representing Royalty in his own per- son, walked to the foot of the throne and took off his hat. The clerk of the Crown then handed in the return of the sixteen Scotch Peers who had been elected to seats in the House. Then the clerk of the table (the Hon. Slingsby Bethell) read the precept ordering the Parliament to re-assemble on Wednes- day, the 1st of November next. It is usual at this time to summons the Commons to hear" the Queen's will and pleasure." Colonel Clifford, the Yeoman Usher of the Black Rod, whose duty it is to perform this office, now made his appearance with the black wand, but his services were not needed, as virtually there is no Speaker, or no House of Commons, for the one is not elected, and the others have neither taken their oaths of allegiance nor their seats since the last general election. There was an evident expectation that some one should be present who was not there. The Lord Chancellor, in the briefest manner, declared the Parliament prorogued, and Sir Denis Le Marchant, clerk of the House of Commons, in his wig and Jf t. gown, just met his lordship at the door as he was r retiring. These two eminent personages shook hands, and a few words having passed between t them, mace and purse bearers (the name of the ) latter individual being" Goodbody"), Usher of the Black Rod, clerks at the table, and the Lord J Chancellor, all disappeared, not to meet again for business until the 1st of November, and then, probably, only to go through the same form. In speaking of the Lord Chancellor, it might be interesting to refer-to his early life. He was the son of the Rev. Edmund Rolfe, of Cranworth, Norfolk, who was a first cousin of Horatio Lord Nelson. He was educated at Winchester and Trinity College, Cambridge, and was seventeenth wrangler in 1812, when in his twenty-first year. In 1815 he took his B.A. degree, and then M.A., and became Fellow of Downing College. Previous to his being called to the bar, he worked hard in a solicitor's office, and step by step he fought his way until, in 1832, he was made King's Counsel; in 1839 he was raised to the bench as one of the Barons of the Exchequer, which he retained until 1850, when he became Vice-Chancellor; in 1851 Lord Chief Justice, and from 1852 to 1858, Lord Chancellor of England; since which time he has lived rather a retired life, but, on the resignation of Lord Westbury, he was con- sidered the most fitting man amongst those who had retired from the woolsack to again take that position. I saw his lordship not only in the House of Lords, but, on the following day, in the Agricultural-hall, at the opening of the Exhi- bition of Art; and I can affirm that his lordship, although seventy-five years of age, is as clear in judgment, as active in mind, and as fluent in words as ever he was in his life, proving, in his person, that hard work does not destroy the intel- lect or lessen the mental or physical powers. I should observe that, doubtless, the clerk at the Herald office, aware of his up-hill fight in life, in presenting him with his coat of arms, as Baron Cranworth gave him this motto, Post nubila phosbus —"After clouds sunshine." A word may also be said about Sir Denis Le Marchant. He is the principal clerk of the House of Commons, and during a Session he may be seen with his two assistants, all wigged and gowned, sitting on chairs near the table in front of the Speaker. It is his duty to make minutes, not of the arguments held in the House, but on the de- cisions at which it arrives-in other words, to re- cord the votes, resolutions, addresses, orders, re- ports, divisions, and all other proceedings on which a decision has been arrived at. To see that these reports are correctly printed and dis- tributed to the members, to read aloud all such documents as the House may require to hear, &c. The two barristers who sit next him assist in this duty. During the choice of a Speaker-and such will be the case at the next meeting of Parliament- Sir Denis Le Marchant acts as President. He does not, however, sit in the Speaker's chair, but takes his place at the table where the Chair- man of Committees sits during business, he has, however, the same power of putting a question and can direct a division in the same manner as the Speaker does. His salary is < £ 2,000 a year, with a comfortable residence in the Speaker's Court, near the House of Commons, with coals, candles, &c. I have eften heard his dinner bell ringing at seven o'clock in the evening, loud enough to arouse the dormant spirits of the Thames, whilst reporters, whose rooms adjoin, and who are working hard to get copy for evening papers, wonder why their nerves should be shaken by such conventional forms. Sir Denis is the first baronet, but is a scion of a distinguished family, and has been by no means idle in the world. He held the offices of Secretary to the Board of Trade, Under-Secretary to the Home Department, Clerk to the Crown in Chancery, and Secretary to the Treasury, before he was appointed to the present lucrative office. The hon. baronet is now in his 70hli year. In the Clubs in London and elsewhere there is much talk just now about Alpine climbers, and the uselessness of young men imperilling their lives for that which profits nothing. There was a club formed in the metropolis some years ago, called the Alpine Club, at which adventurous young men became members that they may meet and record their exploits. Maps of these mountain ranges were hung round the room, and the ascent of this or that gentleman was marked upon it, and those who could attain the most perilous po- sition had the greatest applause. A cry of Cui bono," however, has gone forward since so many accidents have occurred, and the public ask these adventurers whether they have ever offered to the world viva voce, or in writing, half-a-dozen remarks, scientific, novel, or amusing regarding their ascents! Some of these adventurous spirits, when attacked by the press, have come boldly to the rescue, and asked if we should like to see the pluck and darins- of englishmen checked. Well, if any good re- suited from such daring, I think every one would say, no; but if we saw a man walking upon a plank over a wide and deep chasm, when he could go safely over a substantial bridge, we should say he was foolhardy. There are safe roads up Mont Blanc and other Alpine mountains, which bring thetravel- ler a sufficient height to view the country beneath him, and tojudge of that which is abovehim. Whatis gained by ascending untrodden districts of ice and snow but the pride of saying, I have been where few other men have ? I heard this debated the other evening, and was particularly struck with the uselessness of these travels. Upon being questioned, the rash travellers oftentimes crib a poetical effusion from "Manfred," some go further, and quote learnedly from Murchison about strata; some will even Grladstonise, and talk of utilising the ice, and bringing it several fathoms thick to the London market, others quote from Airey of speculations on electric storms, and many bring back trophies in the shape ,of chamois skins. I hope not to be rude, but it really re- minds me of some twenty years ago, when the Chartist riots were general. In a local town huge placards announced that there would be a meeting on a neighbouring hill of all those persons who desired the Charter. Crowds of miners filled the little town, and the lord- lieutenant of the county was appealed to that he should oppose the meeting. Oh, let them alone," he replied, they will do no harm;" and upon the day named the hill was covered; the stump orators addressed the meeting; there was no breach of the peace, however, and the men went quietly home. The lord-lieutenant's policy was judicious; by not making them objects of importance he completely disarmed them. A local paper the next day in commenting upon this added these lines This Chartist band, this Chartist band, of full three thousand men, Went up the hill, went up the hill, 'and then came down again." And so Alpine.adventurers for the most part have been up the hill and down again, and all the issue of their exploit is that they have done it. I think it is Haliburton, in Sam Slick," who describes English travellers sigh: seeing in America. Upon one occasion, a gentleman had arrived at the nearest hotel to the falls of Niagara, and finding the next morning that it rained, he said, Waiter, is that the sound of the falls that I hear ? Is that the spray from it that I see in the distance^ Yes, sir." "Oh, then, let me have my bill—I'm off; I've seen as much of it as I want." Sheridan once asked a friend why he incurred the danger of descending a very deep coal mine. Oh," was the response, merely for the purpose of saying I had done so." That," said the wit,, "you can do without going, and the public will be, like yourself, none the wiser." In public discussions that I have heard upon the subject, men of science and men of mind say that we should treat with disgust the foolhardy spirit of the age, that prompts men to do deeds of daring in which there is no good purpose, rather than apply their energies in some course which would be useful to the world.

OUR "CITY" ARTICLE. THOUGH the banking operations of the country are mainly carried on by joint-stock associations, and, as a consequence, private banks have con- siderably diminished in number, the latter still occupy a respectable position, and are the medium through which a good deal of the business of the country is carried on. A private bank, however, has, in some respects, an advantage over a joint-stock bank. In the one, personal weight and individual influence have the preponderance, while, in the other, these elements are disseminated, or reduced, as it were, to nil. Still, from their comparative security, joint-stock banks are gradually superseding private banks, and this would have been the case at a much earlier period had the principle of joint-stock associations been applied to banking as it has to other departments of enterprise. The joint-stock system has mainly sprung up within the last forty years, for in 1826 the forma- tion of joint-stock banks was authorised in Eng- land for the first time. A law to that effect was passed, after a strong opposition from the Bank of England-the then only joint-stock banking establishment in the country of more than six partners-which succeeded in getting clauses in- serted in the Act to prevent them being established within sixty-five miles of the metropolis. Thus, while provincial towns and places not having a tithe of the wealth and population of London- the capital and counting-house of the world-were authorised to form joint-stock banks, the city of cities was shut out by law from establishing tiiera, though the magnitude of its transactions pres- singly demanded banking accommodation of the amplest character, and remained out for seven I years after provincial districts had been conceded the boon. It was not until the year 1833 that joint-stock banks could be legally formed in Lon- don, and the first institution of its class-the London and Westminster Bank-dates its estab- lishment only from June, 1834. There are now, however, 101 joint-stock bank- ing companies in England and Wales, according to a Parliamentary return, with twenty millions of paid-up capital by 30,711 shareholders. This capital, by virtue of the lucrative dividends de- clared-these ranging from 5 to 30 per cent. per annum-has greatly augmented in value, though joint-stock banking transactions may be said to be but partially developed as yet. There is, how- ever, a difference of opinion as regards the work- ing of these associations, and a great deal depends whether we look at the question from a share- holder's or a depositor's point of view. Taken from a depositor's point of view, it may be urged that a joint-stock bank cannot be too rich in the shape of paid-up capital, as this is the best way of pro- viding security for its transactions, having then something substantial to fall back upon in case of need. Any person of reflection, it is said, having a sum of money to deposit, would naturally prefer the security of that bank which possessed the largest amount of paid-up capital, always sup- posing the management to be competent and effective. It is because the Bank of England, monopolist though it be, possesses the largest paid-up capital of any bank in the world, and is, upon the whole, ably managed, that it com- mands the implicit confidence of the public, and in times of pressure its security for deposits would be taken with confidence, while that of other banks would in all probability be rejected. The reason is simple. In the Bank of England the two most vital principles involved in joint-stock association are provided-namely, abundance of paid-up capital and able manage- ment. If the Bank only allowed interest on de- posits, and offered generally more liberal terms tor business, like most of tslie joint-stock Ib&nksj it would, in the nature of things, distance most of its competitors. With regard, however, to the security which the paid-up capital in a joint-stock bank affords, a very important principle is involved that cannot fail to force itself upon public notice- it is the proportion of paid-up capital which a bank ought to possess in relation to its liabilities. In nine London joint-steck banks only, with de- posits amounting to from sixty-seven to seventy millions sterling, they only possess 4f millions of paid-up capital, whereas, in accordance with a sound and recognised theory in banking, thev ,cc sound and recognised theory in banking, thev should not have less than seventeen millions at least. We put the paid-up capital at one-fourth the deposits, which is considered the minimum of security. But, looking at the case from a share- holder's point of view, a very different phase presents itself. A shareholder argues that a bank cannot pay too high a dividend upon the working of its paid-up capital, and seldom contemplates, or even thinks about, the analogy of the inverted pyramid, so long as everything flows smoothlv on, and the surface of affairs is scarcely ruffled with a breeze. The larger the profits are in a joint-stock bank, the shareholder, generally speaking, considers it the safer; and as these associations yield better returns to shareholders than any other description of investment, they are the favourites of most in- vesting capitalists. We would venture, however, to suggest that this is not a sound policy, and that joint-stock banks, if they wish to abide upon a solid foun- dation, and be permanently prosperous, must not give so large a proportion of their profits to their shareholders, who do not earn them, and relatively so small an amount to their depositors, whose capital produces the large and lucrative dividends they declare, to say nothing of rather costly management expenses. These suggestions, we venture to think, are worthy of consideration; ma, if practically kept in view, will have a ten- dency to establish joint-stock banks upon a broader and firmer footing than they are at present, and will enable them to weather the severest storm that can possibly assail the bank- ing system, of which they are so large and so .mportant a part. We will now give the dividends declared at the •ecent meetings of the leading joint-stock banks, is they measure in some degree the utility and mportance of these establishments, and also point jO the necessity of making them, practically, as perfect as they possibly can be:- vesusig capitalists. We would venture, however, to suggest that this is not a sound policy, and that joint-stock banks, if they wish to abide upon a solid foun- dation, and be permanently prosperous, must not give so large a proportion of their profits to their shareholders, who do not earn them, and relatively so small an amount to their depositors, whose capital produces the large and lucrative dividends they declare, to say nothing of rather costly management expenses. These suggestions, we,ve.^ure think, are worthy ol: consideration; and, if practically kept in view, will have a ten- dency to establish joint-stock banks upon a broader and firmer footing than they are at present, and will enable them to weather the severest storm that can possibly assail the bank- ing system, of which they are so large and so important a part. We will now give the dividends declared at the -recent meetings of the leading joint-stock banks, as they measure in some degree the utility and importance of these establishments, and also point to the necessity of making them, practically, as perfect as they possibly can be:- n J. Per Cent. per Annum. 1864. 1865. London and Westminster 28 26' London Joint-Stock 32J 18 Union Bank 20 30 London and County 32 30 City Bank 20 15 Bank of London 20 20 *Consolidated Bank 15 15 Alliance. 10 5 Imperial 8 8 The logic of these figures sufficiently establishes the fact that joint-stock banks are a great success and, as their shares are nearly all at a high This bajjk has adopted tfce system of carrvino- <> sum half-yearly to reserve. This, no doubt Itofwte the capital of the bank, but may be taken to be not aulte r beneilt t)¡:2 depositors. premium, they ought, and cannot fail, to secure the confidence of both depositors and investors. The speculation in public securities has been for some time dull, this being the holiday season, on the Stock Exchange. The Bank of England rate of discount is still at 4 per cent., and in only exceptional cases has business been done at a lower rate. The demand for discount, however, has been moderate, owing, in a great measure, te the unsettled state of the weather, and consequent fears for the harvest. The supply of money on the Stock Exchange has been abundant, and the rate for short loans has fallen to It to 2 per cent. Consols were 89§ to 89 7 for money, and 89f to t for account.

Money Mars at. CITY, AUGUST 22.-The transactions to-day in the mar- kets for public securities are upon a very limited scale, and prices generally are quoted the same as yesterday. The dis- count market is quiet to-day, with a large amount of money seeking employment, and few bills offering. There is, con- sequently, more disposition on the part of discounters to effect transactions of 31, per cent., and should the present favourable weather last during the next week or two, it is prsbable that the best short-dated paper will be ta.kem. at even a fraction less. The rate for short Joans in the Stock Exchange is 2 to 2| per cant.-Consols are now quoted 89% to f for money, and 89 £ to f for the account (Sep- tember 7). The official business report is as foIlows:- Three per Cent. Consols, for money, 89f, f, i. t: ditto, for account, 89J, ï; Three per Cents. Reduced, 89 £ New TibireervPe? Cents., 89.|, New Two-and-a-Half per Cents.. 71 j Bank Stock. 250, 2i8 India Five per Cent. Stock, 105, t; ditto Four per Cent. Debentures, 18(96, 99-1 Five per Cent, "enfaced" rupee paper, 100^; ditto Five- and-a-Half per Cent., 309J; and Exchequer Bills, Is prem.— There are few dealings in the railway market to-day, and the tone is rather dull. No general reduction has, however occurred in prices. London and North Western stock is new quoted 125Js to i; Great Western, 66i- to i: Midland 130| to ISli; Lancashire and Yorkshire, 118 to I ex div South Eastern, 79J to 80; Metropolitan, 132i to 133K ei div.; Great Northern, 131 to 132; ditto A, U7i to 148t; London and South Western, 99 to 100; Great Eastern, 46 to J and Caledonian, 133 j to 134-J.

The Corn Trade MARK-LANE, AUG- 21.-The supply of English Wheat at this day's market was limited, and previous prices were sustained; but the trade presented a quiet anpearance, and a clearance was not made, the we3.ther since Friday having been more favourable for harvest work. The currency for I new white rules at 46s to 54s; red, 40s to 46s; Talavera, 4Sg to 57s; old white and red, 42s to 55s per qr. Of foreign, much on offer, and purchases made with caution, still pricee were supported, and ringed at 40s to 56s. Only a moderate business in American at 42s to 48s, and holders more dis- posed to sell.-Prices firm for Flour, still trade less active: best town-made brines 40s to 43s; seconds, 36s to 38s; country-made, 31s to 36s; French and Spanish, 34s to 37s per sack; and American, 23s to 28s per barrel.—Full terms were obtained for Barley, supply being short, still trade was slow malting at 30s to 36s per quarter; grinding and dis- tilling, 253 to 29s and foreign, 21s to 32s as to quality: malt met a good demand: pale at 56s to 65s; and brcwa, 50s to 54s.—Oats again in large supply, still rates were supported, purchases being readily made: TWKgfe and Irish potato realised 23s 6d to 26s 6d: feed and black, 19s 6d to 23s; Scotch, according to quality, 21s to 27s 6d; and foreign, 19s 6d to 26s.—A firm market for Peas, with a fair sale white and maple at 37s to 42s, and grey, 35s to 38s.—Only a moderate demand for Beans; still rates full up, and range for small English at 40s to 453; other sorts, 35s to 39s; and Egyptian, 35s to 40s.— Transactions in Linseed were to a large exteat: Odessa brought 58s; Calcutta, 56s 6d to 57s 6d and Bom- bay, 58s. A more ready sale for Rapeseed: Bombay, 586 to 69s; Calcutta,59s; and Madras, 6is to 65s per qr. LIVERPOOL, AUGUST 22.-The marke's fairly a.ttendecC Wheat in moderate consumptive request at full rates of Friday. Flour: Better qualities of French are 6d dearer, and other sorts neglected. Indian corn firm: mixed, 32:s. Beans, oats, and oatmeal support previous prices. COTTON, LIVERPOOL, AUGUST 22.—The general tone of the market continues steady, and there is a sroodinauirv Sales 10,000 or 12,000 bales. TALLOW, AUG. 22.-The market is steady. Town tallow is quoted 45s, net cash; Petersburg Y.C. on the spot, 44s 3d to 443 6d; October to December, 45s; December, 45s 6d to 45s 9d; January to March, 46s. HAY, SMITHMELD, AUG. 22.—Mr, Charles James EastoE. reports trade firm at last day's prices Prime old clover ??' new C^^°> 110s to 120s; prime old h&v! iUSi ™ new djtto, 95s 110s; straw, 28s to 33s. nos to 120s; new dIttO, 95s te 110s; straw, 28s to 33s. HOPS, BOROUGH, AUG. 21.-Meslilrs. Pattenden and Smith report an active demand for consumption for the xemainina- portion of last year's growth, as well as for the new ones that have arrived, of which there are about 300 pockets re- alising the following quotations :—Mid and East Kents' £ 8 to mo; Weald of Kents, iC7 to £ 8; Sussex, £ 7 to £ 7'l0a per cwt. POULTRY, AUG. 21.-A plentiful:supply of poultry, and a good demand at the following prices geese, 5s to 7s each- goslings, 4s 6d to 6s 6d; fowls, 2s 8d to 3s; chickens Is 8d to 2s; ducklings, 2s to 3s; tame rabbits, Is 3d to Is 7d pigeons, 5d to 8d; live ducks and fowls, 22s to 24s per doz. EGGS, AUG. 21.—Eggs meet with a fair sale, but still abundant: English sells at 5s 10d to 6s lOd per 120; French, 4s 6d to 7s; Spanish, 5s to 5s 2d; and Ostend, 6s to 6s 8d. *KUiT AND VEGETABLES, COVEKT GARDEK.- Vegetables continue abundant and good. Large imnorta. tions of French peas, peaches, nectarines, &c., have arrived ?!rice rep,° £ (t- E,nflish Pears comprise Jargonelle, Bon Chretien, and Beurrc d'Amanlia. For pine-annles smd grapes there is still a heavy sale. Apples and Kent ^re coming in ia good condition Good kidney potatoes fetch from Is to 2s uer doW pounds. Flowers ehiefly consist of orchids, heaths nel^ goniums, carnations and wicotees, mignonette, and ioses. Grapes, per lb., Is 6d to 3s; Peaches, per doz., 6s to 10s- Nectarines, do., 4s to 8s: Apricots (French), do 3s; Figs, do., Is to 2s; Strawberries, per lb., Is'to Is Gd- Apples, per sieve, Is Od to 2s Oranges, per 100 14s to 20« Lemons, per 100 8s to 14s: Nuts, cob, per 1001b.. 50s to 60S Brazil, per bushel, 18s; Almonds, do., 18s to 20s; Cabbasres* per doz., Is 6d to 2s 6d; French Beans, per half sieve, 2s to 3s; Peas, per sieve, 2s to 4s; Potatoes, York B&. gents, per ton 90s to 100S; Rocks, ditto, 60s to 70s; Flukes, ditto, 110 to 140; new, round, 8s to 12s per cwt. ditto, Kidneys, 8s to 12a per cwt.; Carrots, peer buncn, 6d to 8d; Carrots, new, per bunch, Is Turnips, per 6d jCucumbers, each,4d to 6d; Beet, plr doz., Is 6d to 2s; Shallots, per lb., 8d; Garlic, per lb Sd- Lettuces. par doz., Is 0d; Endive, per score, Is to 2s 6d Artichokes, per doz., Is 6d to 3s,• Horseradish, per b-ndle2 Is to 4s; Mushrooms, per pott., Is to Is 6d; Parslev T>S doz. bunches, 2s to 4s.; Herbs, per bunch, 6d. 7' p

The Produce Market. MINCING-LANE, AUG 21.— Sugar • Manvmrf>pl= G n- and at slightly higher prices, although .Sere fs l K^ tons over last season, and large quantities on the wav 'w consumption remains favourable. To-dav th» +, y' yet tamed were for low Mauritius, of low to fine wL s, o t>- 27s to 31s; yellow, 31s 6d to 34s 6d; graiS 3L T?T^ty' badoes, 29s to 36s Madras, native, 25s 6d tn 9Qc t Bar" 25s to 26s 6d; Havannah, brown, 30s to 39= Jaggery, to 36s; Floretts, 37s to 39s Sd; white 40-' J ioW' 6d Rico, as to quality; 30s to 39s Porto grey, 32s to 36s 6d; brown and ye'llow 4 cwt. There were greater purchases in refmed Sugar than is usual: rates for brown wm common to fine grocery, 4is ™j.e fls i 41s 6d to 46<s: wet lumps 1 M;- tattlers, to 37s; and bastards, 26s to It Q j pie<:eS' 8 West India Molasses at 14s >, ^°nS at IS* fo iTo «« i? ? i()S > in British-made and rates stiff ol 6s-—Purchases readily made in Coffee, in extensive demand, and ad- and grey 62s to 66, 53s t0 Tr,i^dad>red. 67s to 116s, marlfpt h'naiJ 6s~A more ready sale for spices.—The Rice ™us^ness Tpo°mestU1 HoeB flrm--There is a large medbim rv, a?d prices have become firs?: common and medium Congou being most m request, duty was raid at this port during the past week on 1,177,000 pounds of Tea -1 j-n -Lined Fruit scarcely any business, and the new ppa«nr,a supply will be large, especially of CurrantsZproviC? tra P !RADER>AND the currency for Irish Butter, as to qualitv I AA to 122s; fine Friezland, 114s to 116s; Kampen 112s rnliJ Groningen, 90s to 98s; Jersey, 98s to 110s: fine Tw J 124s to 126s; Devon, 116s to 118s Irish Bacon, 72s +r! ol American, 60s to 62s.—The value of Sperm Oil is -r-a.- ? pale Seal, £ 39 to £ 40; Cod, £ 47; pale Southern Xl0 f98; Palm, 37s; and Linseed, 31s 9d to 32s.—Prippc f „' Pig Iron are 54s 6d to 54s 7d cash, mixed, numhL o c^ch £ 22 to £ 22 5s; Straits Tin, 88s to 88s 6d anri Spe'ter» Copper, £ 85 per ton. nd Cake ■ -♦ — VALUABLE DIET for INVALIDS.—Thp p»,„ „ delicious; very nourishing and easu of £ SElr?I7iE 1 £ choice dishes for the Dinwr-talh. Ja°i f™s Children and Infants. Sold bv Grocers V, m^ch^lzed Tfor WICH, MAUUFACTUBEE. Agents,