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The London Times made itsel' conspicuous, no long since, in exposing great scheme of fraud con templated by an English banker in Florence. which ifsuccessiul would have swinded many of the chief banking houses in Europe, out of large sums, by means of forged letters of credit from England The design became known to the editors of the Times, who went to great expense in ascertaning all the particuars-defeating and exposing the conspiracy and thenin defending costly sut for libel, brought against them by the parties implicated.

 The merchants and bankers ofLondon, have tesii- ed in most honorable and liberal way, their sense of the spirit and integrity with which the affair was prosecuted to successful close. The editors of the Times rpudated the idea pecuniary compensation, and in consequence, il has been determined that in the New London Exchange, a tablet shall be placed, the inscription on which, shall commemorate the a,l- dabe eorse of the paper and that besides, subscrip- tions of money shall be received for the purpose of establishing two Scholarships in of the Univer- sites, te perpetual gift to which shall remain in the propretofs of the Times newspaper.