From the Spectator. (Number is the most able in a literary point THE DUBLIN REVIEW.

of view; but its arguments are somewhat IRELAND, rising in her hopes, has at last jesuitical, and its tone strongly sectariana National Review, which is to be the po- smacking of the shop. There is also a laJitical and religous organ of the Irish people: tent hankering after the things of Cæsar. it appears under the avowed editorship of Endowment is evidently regarded “nothing O'CONNELL himself, assisted by Mr, Quin, loth." the Danubian traveller, and Dr. Wisemax, a Besides these articles, distincly bearing learned priest. The leading objects of this upon the purposes of the Review, there is new Quarterly are of course, Irish and Ro- sufficient variety in literature, art, and man Catholic : and so far as regards the se-science. “Economy of the Earth,” is an irlection and handling of the topics, these ob-regular but popular and striking description jects are very well maintained. The article of some of the more curious wonders brought called “Earl Mulgrave in Ireland,” is a dis- to light by the scientific study of natural tinct account of ihe political acts of that history; and in point of workmanship, is nobleman's government, and of the effects perhaps the best paper in the Review. they have produced. “The Railroad Sys. "Ecclesiastical Music” makes Mr. Hotem in Ireland,” contains a popular view of GARTH's History the rehicle of a very able the rationale of railways, and a plan for in- paper on an interesting subject. Lastly, troducing them into Ireland upon a grand there are both criticism and character in scale, under the control of Government; the Rienzi and in Rauner's England, although great object in view being to effect much their literary points are made in a measure shorter passages to and from America, and subordinate to the leading purposes of the to enrich Ireland by rendering her the grand work. depot and starting point between the old As regards the tact and judgment disworld and the new. . The paper on the Irish played in the choice of subjects, this first and English Universities, is an able and number of the Review in emerald green is temperate exposition of the present defects superior to any debut of late years. Its matin those establishments, Dublin Trinity ter perhaps, and its literary execution cer. College, however, being the amplest and most tainly, is not equal to the skill with which original; the suggestions for improvement its contents have been chosen. Provided are neither very distinct nor far-reaching-the general impression of the writer is conin truth they are contracted by a sectarian veyed, the manner how, appears to have spirit. Besides these articles, directly treat- been disregarded. The thoughts often seem ing of Ireland, those on Raumer's England, to have been the first that came; and freand Bulwer's Rienzi, are made to bear on quenily too little care is displayed in the the subject—the latter, by the by, in a some-choice of expressions. Nor has sufficient what forced fashion.

attention been paid to that condensation of The interests of Roman Catholicism, and matter which not only saves the reader's here and there of Catholic Christianity, are pains, but gives weighi to style. This is of advocated in a painstaking review of LA-course applied generally. The work conBORDE's “Journey to the Edom of the Proph- tains many passages of ability even as reesies ;” as well as in notices of Gerbet's gards expression; and in the following chartruly Frenchified “Considérations sur le acter of Sir Robert Peel a little overDogme générateur de la Piété Catholique." rated in the commencement--we find at once and of the HAMPDEN Controversy,-quite as a good specimen of its composition and of much of harm being done in the last named its political tone. paper to the principle of requiring implicit Sir Robert Peel must be admitted upon all hande obedience to dogmas, in a church which is to be a ready and accurate man of buinneu in other founded upon freedom of private judgement, clear, often an eloquent, and always a plausible de. as of good to the peculiar tenets of the Ro bater in the House of Commons; perfectly skilled man Church. The “Awful Disclosures or in parliamentary tactics ; a fair and even • generous Maria Monk” are completely demolished, his attention to public affairs, and a perfect rianter of

opponent : gifted with great talents , indefatigable in not only by an elaborate drawing out of the every subject on which he delivers his sentiments. points indicated in our own notice of the But it will be the disagreeable duty of history to add, book, but by the production of various Can- that he never appears to have had the slightest com adian evidence, which proves that the lies sciousness of principle. He is wholly destitute of and licence of 'that wretched woman are to to see, even though dimly, before as well as around

the faculty which enables the accomplished statesman be attributed to profligate insanity. As a and behind him. One should have thought, that while whole, the purely religious section of the he was Chief Secretary for Ireland, bie must have

become acquainted with a great variety of circum- affords opportunities for making up some stances which have demonstrated to him the utter scenes that might have occurred, though impossibility of preventing us Catholics from speedily scarcely in the way Mr. WILLIS represents spurning the yoke of the penal laws. Had he even

to the palable operation of these active agents of rev

them. The characters and love adventures an ordinary degree of sagacity, he must have seen with his own eyes, that our accumulating numbers, of his sojourn at college, furnish matter for our growing wealth, our hourly-increasing intel- some half-dozen papers; nearly the space of ligence would, by the mere force of moral action, a volume is filled with a snow storm, and a have dissipated every distinction between us and our flirtation of the author's, in which it is dif fellow subjects of the protestant denomination. But ficult to tell whether silliness or improbabilolution, Mr. Peel was incurably blind. Session after ity predominates: when these fail, he dresses session served only to exibit his ignorance of our con-up some "Scenes of Fear"-where the terdition, until at length we sent forth a simultaneous ror of the reality, if it ever had any, is lost in shout for liberty, which was not to be resisted. the monstrous exaggeration of the littéHow happened it that the same man who had won his way to power by the energy which he displayed in op occured at some American Star and Garter rateur; or he elaborates an incident which posing our claims, subsequently took his station among

those who were the first to yield to them? He had no or White Conduit House; and by way of principle. He was the advocate of party. He was varying his subjects, presses into his serthe champion of an ascendancy which had no foun-vice stories which he has picked up in his dation in the natural order of things. He was an in- travels, adding a Quantum sufficit and somestrument of passion, not the child of wisdom. He

All these articles diverge from objects upon which they should have are set in the well worn framework of papers been concentrated; and the consequence was, that left by a friend and arranged by the editor; from the moment he presented to the House of Com- the person upon whom the onus of the matter mons the bill for our emancipation, he fell into a train lies being a Mr. PAUL SLINGSBY, whilst the of inconsistencies from which he shall never escape, merit of the "literary composition" is careeven were his life extended over fifty generations. The same want of foresight, the same subservience fully claimed by Mr. WILLIS himself. to passion, the same narrow zeal for party in erests, The general faults of the book are its flimprecluded him from the knowledge that Reform was siness and artificial character, and the unthe immediate corollary of the Catholic Bill; and due pretensions and coxcomical obtrusivethat from the momentum which the force of public

saw through a glass which caused the rays of light to thing more of romance.

opinion had acquired in the career of revision and ness of the writer. Its general merits are reparation, the one became even less possible to be lightness and readibleness. With respect

resisted than the other. Nevertheless Sir Robert to more specific points of criticism, it may Peel waited to the last on the beach, and it was not be said that there is facility, vivacity, and till the tempest blackened the air, and the surges flung point in the author's style; a kind of poettheir foam upon his head, that he acknowledged the ical elegance in his manner; and he seems necessity of retiring. And yet a few short years after this, short in the history of a nation. -the man possess a natural tenderness of sentiment, who fought with his utmost strength against every which he spoils by affectation. His great

to

measure of reform, no matter how trivial, had the aim is evidently to be thought familiar with courage once more to assume office, which he knew English fashion and English fashionables; he could not hold for six months, unless he became his great weakness is a use and misuse of a Reformer. Accordingly a Reformer he promised to

become; but nobody believed him sincere, and he fell cant phrases and scraps of Italian; his tone from the pinnacle of power never to ascend it again. is that of an under-bred, self-sufficient, good

From the Spectator.

WILLIS' INKLINGS OF ADVENTURE.

natured dandy. He has taken his ideas of romantic feeling from BYRON; the incidents of romance he invents for himself; his noThe proper title of this book would have tions of manners and "irresistible" behaviour been "Passages of My Life Manufactured are borrowed from Mr. EDWARD BULWER: for Sale;" for it chiefly consists of scenes and he has infused into the whole production and commonplace incidents that fell, or might the spirit of a refined man-milliner. have fallen, under the writer's observation. If the object of the Spectator were to noAn excursion to Niagara is turned into a tice minute faults, or so specify absurdities sort of story; its incidents shaped, connected, in taste and composition, Inklings of Advenand patched together for effect; the scenery ture would furnish plenty of materials. described with animation,but interlarded with as we prefer occupying the space we can long accounts of the impressions it produced devote to extracts with tidbits rather than upon the writer's mind; and the whole spun garbage, we will take from the volume a out to the required length by any jokes or sample or two of the best. And these betremarks the author can bring to the mus-termost points are twofold,-descriptions of ter. A passage across Lake Ontario in a landscapes, and indirect pictures of American steamer with a part of a British regiment, manners; each of which have more freshness

But

and reality than any other parts of the vol- features, mixed with an earnestness that commended umes, though we often see that they are dash- itself at once to your liking. ed by an affectation of smartness, and may Indians, as motionless by the hour together as figures

In a retired'corner near the wheel, stood a group of likely enough be altered and cooked-up for carved in rosso antico. They had been on their meleffect.

ancholy annual visit to the now-cultivated shores of

Connecticut, ihe burial-place, but unforgotten and THE THOUSAND ISLES OF TAÉ ST. LAWRENCE.

once wild home of their fathers. With the money I think there is not, within the knowledge of the given them by the romantic persons whose sympathies “all beholding sun," a spot so singulary and exquisite are yearly moved by these stern and poetical pilly beautiful. Between the Mississippi and the Cim- grims, they had taken a passage in the "fire canoe,”

a merian Bosphorus, I know there is not, for I have pic. which would set them two hundred miles on their nicked from the Symplegades westward. The thou- weary journey back to the prairies. Their Apollosand Isles of the St. Lawrence are as imprinted on my like forms loosely dressed in blankets, their gaudy mind as the stars of heaven: I could forget them as wampum-belts and feathers, their muscular arm and soon.

close clutch upon the rifte, the total absence of surThe river here is as wide as a lake, while the prise at the unaccustomed wonders about them, and channel just permits the passage of a steamer. The the lowering and settled scorn and dislike expressed islands, more than a thousand in number, are a sin- in their copper faces, would have powerfully imgular formation of flat, rectangular rock, split

, as it pressed a European. The only person on whom they were, by regular mathematical fissures, and over-deigned to cast a glance was the Kentuckian; and at flowed nearly to the tops, which are loaded with a him they occasionally stole a look, as if through all his most luxuriant vegitation. They vary in size, but metropoliton finery, they recognized metal with whose the generality of them would about accommodate a tea. ring they were familiar. party of six. The water is deep enough to float a large There were three foreigners on board, two of steamer directly at the edge, and an active deer would them companions, and one apparently alone. With leap across from one to the other in any direction. their coats too small for them, their thick-soled bots What is very singular, these little rocky platforms and sturdy figures, collarless cravats and assumed unare covered with a rich loam, and carpeted with moss consiousness of the presence of another living soul, and flowers, while immense trees take root in the clefts, they were recognizable at once as Englishmen. To and interlace their branches with those of the neigh- most of the people on board they probably appeared bouring islets, shadowing the water with the unsunned equally well-dressed, and of equal pretentions to the dimness of the wilderness. It is a very odd thing to character of gentlemen; but any one who had made glide through in a steamer. The luxuriant leaves sweep observations between Temple Bar and the steps of the deck, and the black funnel parts the dropping Crockford's, would easily resolve them into Birsprays as it keeps its way, and you may pluck the mingham bagmen, "sinking the shop,” and a quiet blossoms of the acacia, or the rich chesnut flowers, sit- gentleman on a tour of information. ting on the taffrail ; and really, a magic passage in a

as witch's steamer, beneath the tree-tops of an untrod

Inklings of Adventure contain verse den forest, could not be more novel and startling. well as prose. The poems are mostly conThen the solitude and silence of the dim and still nected with the papers in which they are waters are continually broken by the plunge and leap introduced; and, in spirit, have similar charof the wild deer springing or swimming from one is: acteristics ; possessing fluency of diction, land to another; and the swift and shadowy canoe of the Indian glides out from some unseen channel, and harmony of verse, and mechanical elegance with a single stroke of his broad paddle he vanishes of sentiment. But they want pith and oriand is lost again, even to the ear.

ginality. COMPANY IN A STEAM-BOAT.

From The Spectator. Near me sat a Kentuckian on three chairs. He had been to the metropolis, evidently for the first time

JOINT STOCK BANKS. and had “looked round sharp.” In a fist of no very delicate proportions was crushed a pair of French

A Discussion in the House of Commons. kid gloves, which if they fulfilled to him a glove's des.

Mr. Clay, on Thursday, called the attentiny would flatter te rich man” that "the camel”

tion of the House to the system of Joint might yet give him the required precedent.His hair had still the traces of having been astonish- Stock Banking; which, le said, had grown ed with curling.tongs; and across his Atlantean breast up already into great magnitude, was daily was looped, in a complicated zigzag, a chain that extending its ramifications, and promised must have cost him a wilderness of racoon skins. His

shortly to comprehend every portion of the coat was evidently the production of a Mississippi tailor, though of the finest English material, his shim kingdom and every class of the population bosom was ruffled like a swan with her feathers full within its sphere of action. His object was spread; and a black silk cravat, tied in a kind of a to inquire whether this system had received curse-me-if-l-care-sort-of-a-not, Aung out its ends the best legal development of which it was like the arms of an Italian improvisatore. With all susceptible. Had all the means in the power this he was a man to look upon with respect. His of the Legislature been used to secure the under-jaw was set up to its fellow with an habitual determination that would throw a hickory tree into a

benefits and obviate the calamities that might shiver ; but frank good-nature, and the most absolute arise from it? He thought not: but before freedom from suspicion, lay at large on his Ajacean entering on the question of how far the im

perfections of the present system inight befcharters of limited liability on such Joint Stock Banks remedied, he would call the attention of the as would issue only Bank of England notes; but subHouse to the circumstances under which it sequently abandoned that intention; and the only change then made in the law relating to those estaoriginatedblishments, was permitting them to make their notes "The history of the year 1825 must be familiar to payable in London. The laws regulating the trade of every honourable gentleman who hears me; the mad banking by partnerships of more than six persons in excitement, the idle dreams of unbounded prosperity, England and Wales are briefly as follow,-they must the wild projects at the commencement of that me-not be established at a less distance than sixty-five morable year, the wide-spread distress, the still more miles from the Metropolis; they may issue notes paywidely-spread alarm which attended its close, are not, able on demand where issued, or in London, and I am sure, forgotten by this House, and will not be, 1 where issued; they may discount in London bills of trust, forgotten by the public. On the assembling of exchange; they must before issuing notes enter at the Parliament in 1826, his Majesty having called its at-Stamp-office in London the name of the co-partnertention to the calamities which had signalized the pe-ship, the names and residences of the partners, and riod then recently elapsed, and to the consideration of the names of two or more officers of the copartnerthe best means of obviating the risk of their recur- ship through whom they may sue or be sued; a like rence, two measures for their accomplishment were return must be made every year, and also whenever a submitted by the Government of that day to both change takes place in the officers, the members, or Houses. The first was for a suppression, at an early the places where notes are to be issued; execution on period, of all notes under 57. issued by private bank-judgments and decrees obtained against the officers ing establishments, the Bank of England having al-may be sued out against any member of the copartready discontinued the issue of such notes. On this nership; this responsibility attaches to persons retirmeasure-in my opinion a most salutary one-it is not ing from the company for three years, as far as relates necessary that I should at present comment. The se- to transactions occurring whilst they were members. cond was intended to create a sounder system of bank- Under these laws, a system of joint stock banking ing. In the panic, a great number of country bankers has grown up already, as I have said, of vast extent, stopped payment: fifty-nine commissions of bankrupt- and day by day enlarging the sphere of its action. By cy were issued against Country Banks from October a return to an order of this House of the 21st of 1825 to February 1826, and many suspended their March last, it appears that there were at that time 61 payments whose affairs did not proceed to bankrupt- Joint Stock Banks established with their branches at cy. An opinion in consequence became prevalent, 472 places, and consisting in all of 15,673 partners or that one of the causes most operative in producing the shareholders: of these, 3 were established in 1826, 4 crisis just then, past, was to be found in the law, in 1827, 6 in 1829, 1 in 1830, 8 in 1831, 7 in 1832, 10 which, by restricting partnerships consisting of more in 1833, 10 in 1834, 8 in 1835, and 4 in this year to than six persons from issuing notes, and, indeed, as the 21st; and since the date of the return 5 have been was supposed (although, as it subsequently appeared, entered at the Stamp-office, one of them having 24 erroneously,) from carrying on the trade of banking branches, and 2052 partners. More companies I know altogether, greatly enhanced the difficulty of forming to be in a course of formation, and there are probably solid establishments for that purpose. To the relaxa- others of which I have not heard."

issuing notes, it was necessary to obtain the consent

tion of that law, originally enacted in 1708, to confer An element of tremendous power had on the Bank of England a monopoly of the power of been introduced into the monetary system, of the Bank, as its re-enactment was part of the last and no efficient precaution had been taken to as of previous bargains with that Corporation. Ac-control its operation; for the unlimited recordingly, the First Lord of the Treasury and the sponsibility provided for by the 7th George Chancellor of the Exchequer, the late Lord Liverpool Fourth was attended with grave inconveniand Lord Goderich, had on the 3d of February written a letter to the Directors, urging such consent. but afforded no protection to the comIt ences, is not necessary that I should trouble the House with munityreading either that letter, or any portion of the cor- "The dangers to which our present system is exrespondence between the Government and the Bank posed arise mainly from these causes: by permitting Directors, consequent on the application it contained. an unlimited number of persons to combine for the The result of the negociation was, that the Bank con- purpose of carrying on the trade of banking, you consented to waive its exclusive privileges in that parti- fer on them an enormous power of creating an extencular, provided that the banking copartnerships under sive business; by rendering all the shareholders rethe new law were not to be established at a less dis-sponsible, you afford the most dangerous facility in tance than sixty-five miles from London, and that obtaining credit, whilst you take not the smallest preevery member should be individually liable for the caution that such banks shall possess capital commenwhole debts of the firm. In the course of the session, surate with the engagements into which the powers an Act was passed, the 7th George Fourth, c. 46, em- and facilities you bestow will tempt them to enter. I bodying these conditions." can conceive no state more dangerous for any commer

This law, Mr. Clay said, was confessedly cial community, than one in which a system composed imperfect; and the opportunity of amending the country should be covered with joint stock bankof such elements should be in full activity, in which it, and of putting the banking system of the ing companies, enabled to extend their operations country on a sure foundation, which occurred through the thousand channels open to them by means at the period of the renewal of the Bank of their shareholders, and feeling no necessity to limit Charter, was, unhappily, not improved- the accommodation they afford from want of funds, the place of which, for a certain length of time at "Lord Althorp did, indeed, propose conferring least, their credit will supply. I can conceive no state

more directly tending to produce that excitement, stion as a greater number of persons are implicated in that overtrading, that apparent prosperity, so pleasant responsibility. The House will not think that I have in its advent, so bitter in its consequences. If there overrated the importance of this consideration, when be one case in which legislative interference with the it bears in mind that nearly sixteen thousand persons, intercourse of individuals could be justified equally many of them commercial men of considerable emiby reasoning and experience, beyond all doubt it nence in the great towns of England, are partners in would be an interference to obviate the dangers these companies.” which an abuse of the powers and facilities of joint

The existing state of the law afforded exstock banking inevitably tends to produce."

treme facility for the getting up of these Mr. Clay then referred to the past history banks. A company might be formed on a of banking in this country, and to the vast nominal capital of a million-10,000 shares number of failures of banking establishments, of 100l. each; 408. or 208. only paid on each as proof of the insufficient protection afford.share, for the Act required no payment; and ed by the system of unlimited responsibility, if the projectors could raise the funds for the which had been the banking system of Eng purchase of a brass plate and mahogany land. It might be said, that if the banks counters, they might establish branch banks were ultimately solvent through their part- in every town in England-declare a fictitious ners, that was all the Legislature had to look dividend, for there was no provision for pubto, as the losses of the banks were no concern licity; and all the original shareholders might of the public. But the failures of banks withdraw from the concern, without the produced distrust and alarm, shocked public knowledge of their creditors, as few would credit, and lessened the demand for labour. examine the Stamp-office records to ascertain Did the system of unlimited responsibility the real partners: and they who did might be afford security against the stopping payment deceived, as the transfers of shares were not of such establishments? On the contrary, it regularly entered indeed, if they were, new tends to increase the risk of such occurren. and extensive arrangements must be made at ces.

The credit they obtained was in pro- the Stamp-office for that purpose. portion to the presumed extent of their ulti.

He then proceeded to notice the actual mate solvency, not to their paid-up capital. working of the joint stock system; admitting It was visionary to suppose that the share that many of the banks were prudently manholders would be able to pay up their sub. aged, and that much of the imprudence was scribed capital in times of commercial owing to faulty legislation. By a table furdifficulty, when they would need all theirnished to him by the directors of several funds for their individual engagements. banks, he found that there were now 55 Joint The ultimate solvency of all the Joint Stock Stock Banks in operation, from 46 of which Banks was probably certain; but by how there were returns. These 46 banks had frightful a process would that solvency be 821,050 shares; 529,397 of which had been tested?

issued, being 63 per cent. of the whole: their “In the case of a suspension of payment by one of nominal capital 30,930,0001, their paid up these establishments, the most opulent shareholders capital 5,922,505l., or 19 per cent. Four of would of course be selected for attack; and respecta: the above 46 banks, having a nominal capital ble and wealthy persons might, if the engagements of 9,500,000l. and a paid up capital of 1,474,of the bank were large, be reduced at once to beg: 6001., did not issue their own notes. The gary, and left to recover their lost fortunes by suits in Chancery against their partners for their proportion of total of notes issued by all the Joint Stock the debts of the concern. It is also by no means clear Banks, which in December 1831 was 1,315,that every partner in a joint stock bank is not subject 3011., was now 3,094,0251.--no great increase to the operation of the bankrupt laws, with all their when the increase in the number of banks train of formidable consequences. But the mere misery thus created is but a small portion of the evil to was considered, as well as the fact that the be dreaded. If a period should ever arrive in which private bank circulation was less by 500,0001. several of these establishments should become embar. But the operations of these banks were by no rassed, and legal proceedings be had against indivi- means to be measured by the extent of their dual shareholders, it is certain that suspicion would note circulation. Their means of affording arise generally with regard to shareholders in all such accommodation consist of their paid up capconcerns. The creditors of persons thus circum

ital, their deposits, (the latter, in new estastanced would feel the inclination to secure what was due to them before the property of their debtors be-blishments, could not be large,) and where came liable for the engagements of the bank; and a noles were issued, their circulation. He bestate of distrust, discredit, and alarm would occur, lieved that the accommodation afforded by far more widely spread and more disastrous, I firmly some banks exceeded their paid up capital, believe, than any we have yet witnessed. If a private bank fail, its immediate connexions are alone liable to deposits, and circulationsuspicion: the distrust created by the stoppage of a “ They are enabled to give this accommodation by joint stock bank will extend more widely in propor-/rediscounting in the London market. Large amounts