The Sun. — London, England, 1848-12-22 00:00:00

the credit and commerce of so many great and enlightened stattems of Europe. It is believed that, looking to the great aggregate of all our interests, the whole country was never more prosperous 'than at the present period, and never more rapidly advancing in wealth and population. Had the disturbances in Europe not occurred, our com inane would undoubtedly have been still more extended, and would have added still more to the national wealth and public prosperity. But notwithstanding these disturbances, the operations of the revenue system established by the Tariff Act of 1846 have been so generally beneficial to the Govern ment and the business of the country, that no change in its provisions is demanded by a wise public policy, and none is recommended. _ _ _ The operations of the Constitutional Treasury established by the Act of the 6th of August, 1846, in the receipt, cus tody, and disbursement of the public money, have continued to be successful. Under this system the public finances have been carried through a foreign war, involving the necessity of loans and extraordinary expenditures, and requiring dis tant transfers and disbursements, without embarrassment, and no loss has ;Ccurred of any of the public money depo sited under its provisions. While it has proved to be safe and useful to the Government, its effects have been most beneficial upon the business of the country. Ia the year 1847 there was a revulsion in the business of Great Britain of great extent and intensity, which was followed by failures in that kingdom, unprecedented in number and amount of bases. This is believed to be the first instance when such disastrous bankruptcies, occurring in a country with which IvehrAve such extensive commerce, produced little or no in- jut; ous effect upon our trade or currency. During the present year nearly the whole continent of Europe has been convulsed by civil war and revolutions, at tended by numerous bankruptcies, by an unprecedented fall in their public securities, and an almost universal paralysis of commerce and industry ; and yet, although our trade and the prices of our products must have been somewhat unfa- Vourably affected by these causes, we have escaped a revul sion, our money market is comparatively easy, and public and private credit have advanced anti improved. It is confidently believed that we have been saved from their effect by the salutary operation of the co nstitutional_ treasury. It is certain, that if the twenty-four millions of specie imported into the country during the fiscal year ending on the 30th of June, 1847, had gone into the banks, as, to a great extent, it must have done, it would, in the absence of this system, have been made the basis of aug mental bank paper issues, pro b a bly to an amoun t not lee; than sixty or seventy millions of dollars, producing , as an inevitable consequence of an inflated currency, ex tra v ag ant prices for a time, and wild speculati on, which mus t h ave been followed, on the reflux to Europe, the succeeding year of so much of that specie, by the prostration of the business of the country, the suspension of the banks, and !hest extensive bankruptcies. Occurring, as this would have done, at a period when the country was engaged in a foreign war, when considerable loans of specie were re quired for distant disbursements, and - when the banks, the fiseal agents of the Government, and the depositaries of its money, were suspended, the public credit must have sunk, and many millions of dollars, as was the cas e during the war of 1812, must have been sacrificed in discounts upon loans, and upon depreciated paper currency which the Government would have b,cen compelled to use. e In my Message of the 6th of July last, transmitting to Congr - ess the ratified treaty of peace with Mexico, I recom mended the adoption of measures for the speedy paym ent of the publi c d e bt . I n re i terat i ng that recommenda tion, I refer you to the considerations presented in that message in its support. Funded stock of the United States, amounting to about half a million of dollars, has been purchased, as authorised by law, since that period, and the public debt has thus been reduced ; the details of which will be presented in the annual ifert of the Secretary of the Treasury. The estimates of expenditure for the next fiscal year will be ample for all necessary purposes. If the appropriation bade by Congress shall not exceed the amount estimated, the means in the treasury will be sufficient to defray all the expenses of the Government; to pay off the next instalment of three millions of dollars to Mexico, v;hich will fall due On the 30th of May next; and still a considerable surplus Will remain, which should be ".;plied to the further purchase of the public stock anti ;eduction of the debt. Should en larged appron' 4 frill be tr; ..siioras be made, the necessary consequence poeipone the payment of the debt. Though our d e l lte as Cattllidtki with most other nations, is small, it is Inr true ioiicy, and in harmony with the genius of our insti .lt:ions, that we should present to the world the rare spectacle of a great Republic, possessing vast resources and wealth, wholly exempt from public indebtedness. This would add still more to our strengh, and give to us a still more com manding position among the nations of the earth. The public expenditure should be economical, and be con fined to such necessary objects as are clearly within the powers of Congress. All such as are not absolutely de manded should be postponed, and the payment of the public debt at the earliest practicable period should be a cardinal principle of our public policy. -For the reason assigned in my last annual message, I re peat the recommendation that a branch of the Mint of the United States be established at the city of New York. The importance of this measure is greatly increased by the acqui sition of the rich mines of the precious metals in New Mexico and California, and especially in the latter. I repeat the recommendation heretofore made in favour of the graduation and reduction of the price of such of the pub lic lands as have been long offered in the market and have remained unsold, and in favour of extending the rights of pre-emption to actual settlers on the unsurveyed as well as the surveyed lands. MILITAILT AND NAVAL FORCES. On the return of peace, our forces were withdrawn from Mexico, and the volunteers and that portion of the regular army engaged for the war were disbanded. Orders have been issued for stationing the forces of our perma nent establishment at various positions in our extended eountry where troops may be required. Owing to the remoteness of some of these positions, the detachments ave not yet reached their destination. Notwithstand n g the extension of the limits of our country and the forces required in the new territories, it is confidently be lieved that our present military establishment is sufficient for all exigencies, so long as our peaceful relations remain undisturbed. Of the amount of military contributions col- lected in Mexico, the sum of seven hundred and sixty-nine thousand six hundred and fifty dollars was applied towards the payment of the first instalment due under the treaty with Mexico. The further sum of three hundred and forty-six thousand three hundred and sixty-nine dollars and thirty cents has been paid into the treasury, and unexpected ba lances still remain in the hands of disbursing officers and those who were engaged in the collection of these moneys. After the proclamation of peace no further disbursements were made of any unexpended money arising from this source. The balances on hand were directed to be paid into the treasury, and individual claims on the fund will remain unadjusted until Congress shall authorise their settlement and payment. These claims are not considerable in amount. I recommend to your favourable consideration the sugges tions of the Secretary of War and the Secretary of the Navy in regard to legislation on this subject. Our Indian relations are presented in a most favourable view in the report from the War Department. The wisdom of our policy in regard to the tribes within our limits is clearly manifested by their improved and rapidly improving condition. A most important treaty with the Menomonies 'has been recently negotiated by the Commissioner of Indian Affairs in person, by which all their land in the state of Wisconsin— being about four millions of acres—has been ceded to the United States. This treaty will be submitted to the Senate for ratification at an early period of your present session. Within the last four years eight important treaties have been negotiated with different Indian tribes, and at a cost of 1,342,000 dollars; Indian lands to the amount of more than 18,500,000 acres have been ceded to the United States; and provision has been made for settling in the country west of the Mississippi the tribes which occupied the large extent of the public domain. The title to all the Indian lands within the several states of our Union, with the exception of a few small reservations, is now extinguished, and a vast region opened for settlement and cultivation. The report cf the Secretary of the Navy gives a satisfac tory exhibit of the operations and condition of that branch of the public service. A number of small vessels suitable for entering the mouths Of rivers were judiciously purchased during the war, and gave great efficiency to the squadron in the Gulf of Mexico. The number of men in the naval service authorised by law during the war has been reduced by discharges below the maximum fixed for the peace establishment. Adequate squadrons are maintained in the several quarters of the globe where experience has shown their services may be most use fully employed, and the naval service was never in a condi tion of higher discipline or greater efficiency. I invite attention to the recommendation of the Secretary of the Navy on the subject of the marine corps. The re duction of the corps at the head of the war required that four officers of each of the three lower grades should be dropped from the rolls. A board of officers made the selec tion • and those designated were necessarily dismissed, but without any alleged fault. I concur in opinion with the Secretary, that the service would be improved by reducing the number of landsmen, and increasing the marines. Such a measure would justify an increase of the number of officers to the extent of the reduction by dismissal, and still the corps would have fewer officers than a corresponding number of men in the army. The contracts for the transportation of the mail in steam ships convertible into war-steamers promise to realise all the benefits to our commerce and to our navy which were anti cipated. The first st eamer th us secure d to our Govern ment was launched in January, 1847. There are now seven ; and, in another year there will, probably, be not less than seventeen afloat. While this great national ad vantage is se cure d, our social and commercial intercourse is increased and promoted with Germany, Great Britain, and other parts of Europe, with all the coast of our continent, especially withcountries on th e wes t Oregon and Cali fornia, and between the northern and southern sections of be expected the United States. Considerable revenu efrmoayNew York to from postages ; but the connected lima e e , stimated, Chagres, and thence across the Isthmus to % . .re_gon, cannot fail to exert a beneficial influence, not Do or :I A:1 r e on the interests of the manufactures, tion, and currency of the United States. As an impoten tnaviga part of the system, I recommend to yo ur fa vourable consi deration the establishment of the proposed line of steamers between New Orleans and Vera Cruz. It promises the most happy results in cementing friendship between the two Re publics, and in extending reciprocal benefits to the trade and manufactures of both. THE POSTAL ARRANGEMENTS. The report of the Postmaster-General will make known to you the operations of that department for the past year. It is gratifying to find the revenues of the department, under the rates of postage now established by law, so rapidly increasing. The gross amount of postages during the last fiscal year amounted to four million three hundred and seventy-one thousand and seventy-seven dollars, exceeding the annual average received for the nine years immediately preceding the passage of the Act of the 3d of March, 1845, by the sum of six thousand four hundred and fifty-three dollars, and exceeding the amount received for the year ending the 80,th of June, 1847, by the sum of four hundred and twenty five thousand one hundred and eighty-four dollars. The expenditure of the year, excluding the sum of ninety four thousand six hundred and seventy-two dollars, allowed by Congress at its last session to individual claimants, and including the sum of one hnndred thousand five hundred dollars paid for tht services of the line of steamers between 11 emen and New York, amounted to four million one hun dred and ninety-eight thousand eight hundred and forty-five dollars, which is less than the annual average for the nine years previous to the Act of 1845, by three hundred thousand -seven hundred and forty-eight dollars. The mail routes, on the thirtieth day of June last, were ore hundred and sixty-three thousand two hundred and eight miles in extent, being an increase during the last year of nine thousand three hundred and ninety miles. The mails were transported over them, during the same time, forty-one million twelve thousand five hundred and seventy-nine miles; making an increase of transportation for the year of two million one hundred and twenty-four thousand six hun dred and eighty miles, whilst the expense was less than that of the previous year by four thousand two hundred and thirty five dollars. The increase in the mail transportation within the last three years has been five million three hundred and seventy eight thousand three hundred and ten miles, whilst the ex pellees were reduced four hundred and fifty-six thousand TII SUN, LONDON", ritlDAit RirENIN'O, DECIIMBER 22, 1848, seven hundred and thirty-eight dollars ; making an increase • of service at the rate of fifteen per cent., and a reduction in the expenses of more than fifteen per cent. During the past year there have been employed, under contracts with the Post-office Department, two ocean steamers in conveying the mails monthly between New York and Bremen, and one since October last, performing semi monthly service between Charleston and Havannah; and a contract has been made for the transportation of the Pacific mails across the isthmus from Chagres to Panama. Under the authority given to the Secretary of the Navy, three ocean steamers have been constructed and sent to the Pacific, and are expected to enter upon the mail service between Panama and Oregon, and the intermediate ports, on the Ist of January next, and a fourth has been engaged by him for the service between Havannah and Chagres ; so that a regular monthly mail line will be kept up after that time between the United States and our territories on the Pacific. Notwithstanding this great increase in the mail service, should the revenue continue to increase during the present year as it did in the last, there will be received nearly four hundred and fi ft y thousand dollars more tha n the expenditure. These considerations have satisfied the Postmaster-General that, with certain modifications of the Act of 1845, the re venue may be still further increased, and a reduction of postages made to a uniform rate of five cents without an interference with the principle, which has been constantly and properly enforced, of making that department sustain itself. CONCLUSION'. Nothing can retard the onward progress of our country, and prevent us from assuming and maintaining the of gt e h n efirst rank among nations, but a disregard of de the past and a recurrenceotoouttlaribille peace—a nWl war public policy. Wered have just closed an honourable necessary and unavoidable in vindication of the national rights and honour. The present condition of the country is bitnilar in some respects to that which existed immediately after the close of the War with Great Britain in 1815, and the occasion is deemed to be a proper one to take a retrospect of the measures of public policy which followed that war. There was at that period of our history a depar ture from our earlier policy. The enlargement of the powers of the federal government by construction, which obtained, was not warranted by any just interpretation of the Consti tution. A few years after the close of that war a series of measures was adopted, which, united and combined, consti tuted what was termed by their authors and advocates the "American system." [The Message then goes on at great length to set forth the " democratic" viewkof this " American System." The Mes sage closes thus Daring the period I have administered the executive de partment of the Government, great and important questions of public policy, foreign and domestic, have arisen upon which it was my duty to act. It may indeed be truly said that my administration has fallen upon eventful times. I have felt most sensibly the weight of the high responsibilities devolved upon me. With no other object than the public good, the enduring fame, and permanent prosperity of my country, I have pursued the convictions of my own best judgment. The impartial arbitrament of enlightened public opinion, present and future, will determine how far the public policy I have maintained, and the measures I have from time to time recommended, may have tended to advance or retard the public prosperity at home, and to elevate or depress the estimate of our national character abroad. Invoking the blessings of the Almighty upon your deli berations at your present important sessions, my ardent hope is, that in a spirit of harmony and concord, you may be guided to wise results, and such as may redound to the hap piness, the honour, and the glory of our beloved country. JAMES B. POLK. Washington, December sth, 1848. From Mexico we learn that almost immediately after the adjournment of Congress a new meeting was convened, os tensibly to appoint commissioners to meet those from the United States for reviewing and marking the boundary be tween the ceded territories and Mexico. The real objects, however, are said to be a revision of the tariff, with a view to the reduction of duties and the authorising terms that may be successful, for a loan of 600,000 dollars. The position of political affairs in Mexico seems unchanged, and therefore unstable; still, if, as it is rumoured, Paredes left his country in the Great Western, recently, one element of disturbance has been removed. MR. COBDEN'S PLAN OF FINAN CIAL REFORM AND NATIONAL ECONOMY. The following communication from Mr. Cobden, on the subject of national retrenchment and financial reform, was read on Wednesday night, at the meeting of the Liverpool Financial Reform Association : London, 103, Westbourne-terrace, Dec. 18. Dear Sir,—l gathered, from the conversation I had with you and the members of the Financial Reform As sociation in Liverpool, that you had two objects in view ...first, the substitution of direct for indirect taxation ; and, secondly, a diminution of the present amount of Government expenditure. I ventured to offer an opinion, which I now beg to repeat, that it would be far easier to effect a reduction of expenditure to the extent of 10,000,0001., and apply the whole of that sum to the re moval of Excise and Customs' duties, than to transfer the same amount from indirect to direct taxation. Excepting in Liverpool and a few of our largest trading towns, there is not, at present, a very great force of public opinion in favour of direct taxation. It has yet to be created and organized. But there is a very general sympathy felt in the proceedings of your body, founded upon a strong de sire to have the burdens of taxation lightened; and there is some expectation that you will put forth a plan for effecting that object. My reason for now troubling you is to suggest whether it might not be advisable to publish a national budget, exhibiting on one side a con siderable reduction in the expenditure, and on the other the several Excise and Customs duties which you pro pose in the first place to abolish. I do not mean by this a perfect financial scheme, such as may be contemplated as the ulterior object of your association, but a plan which, whilst it went in the direction of your principle of direct taxation, and relieved the mass of consumers from a heavy tax upon their necessaries and comforts, should commit those politicians of all shades who now join in the vain cry for " economy and retrenchment" to some practical measure worth contending for. I suggest that you take for the basis of your budget the expenditure of 1835. The whole cost of the Go vernment in that year, including interest of debt, was 44,422,0001. For the twelve months ending the sth of April last it amounted to 55,175,0001., being an increase of 10,750,000/. The interest of the debt was less by 87,000/. in the latter than in the former year, making the comparison so much the more favourable to 1848. The estimated expenditure for the current year ending the sth of April, 1849 (see Lord J. Russell's speech 18th February last), is 54,596,0001.; so that we take the in crease to be, in round numbers, 10,000,000/. since 1845. Do you see any good reasons why we should not return to the expenditure of that year? Englishmen love pre cedents; and they are not easily persuaded that any thing is Utopian or impracticable which has been accomplished within the last thirteen years; and this is one reason, though I will find you a bettet, why you should base your budget upon that of 1835. If we go back a little further, to the time when this nation was still under the rule of the boroughmongers, we shall find a startling argument in favour of this plan. In 1830, the last year of the Wellington-Peel Administra tion, the expenditure for all purposes, exclusive of the interest of the debt, was 18,024,000/4 for the twelve months ending the sth of April of the present year, it amounted to 26,747,0001. The Tory Government was overturned the following year upon the motion of Sir Henry Parnell in favour of economy, and the House of Commons was soon afterwards reformed, mainly on the plea of its profligate waste of the people's money; and yet we have now an increase to the expenditure of 8,723,000/., or nearly 50 per cent., as the fruits of the Reform Act. We are now actually expending more upon the army, navy, and Ordnance alone, than sufficient for the maintenance of the whole civil and military esta blishments under the Duke of Wellington's Govern ment! When these facts shall be generally known, the country wilt, I think, be in the humour for responding to your appeal, if you inscribe as your motto upon your banner—" The Expenditure of 1.835;" which will be a reduction of 10,000,0001. from this year's budget. I would not advise you to complicate your plan by proposing any new imposts, to rouse the antagonism of interested parties, or any modifications or substitutions of existing taxes, to destroy that simplicity of object which, above all things, is necessary to the success of a public agitation. But there is one tax from which the dominant class in this country has exempted itself for half a century, which exemption would be disgraceful to the character of the British people any longer to tole rate—l mean the probate and legacy duty. In the last year upwards of two millions of pounds were paid into the Exchquer by the heirs to personal property, con sisting mainly of the hard-earned accumulations of our merchants, manufacturers, professional men, traders, and mechanics ; whilst the ducal domain, or the estate of the great landed proprietor, passed untaxed from the dead to the living. This year will be memorable for having witnessed the destruction of the last remain ing powers of feudalism in all the countries of the Continent, excepting Russia. But I know of no privi lege which the nobles of Prussia, Gallicia, or Hungary have been compelled to surrender, as a tribute to the enlightenment of this age, more unjust in principle than that which is conferred upon our landed proprietors in the statute passed by themselves, imposing duties exclu sively upon the inheritance of personal property. Let us not boast of English freedom, or of equality before the law, whilst this injustice remains. In what form could aristocratic privilege assume a more offensive and costly aspect than in that of a bold and palpable exemp tion from taxation? I do not think that great resistance will be offered to the equitable adjustment of this tax, provided the people speak out as becomes them. No living proprietor will be affected by the change; and the landholders are as conscious as you or I that these are not times for transmitting such a class of privilege to posterity. I assume that the probate and legacy duty upon real estate, entailed and unentailed, will yield, at a moderate estimate, 1,500,0001. By the above plan you would have a disposable surplus revenue of 11,500,000/., viz., ten millions from the reduction of expenditure, and a million and a half from the increased produce of the probate and legacy duty. I will now trouble you with my views as to the dis posal of that amount, premising that I have not felt quite free to choose in every instance those items of the Customs and Excise duties which I should myself have preferred to abolish or reduce, but have been partly in fluenced by the desire to enlist the sympathy and sup port of every class and interest in the community, whose co-operation will be abundantly requisite to force the adoption of the plan upon Government. To begin with the Customs duties. The present duty of 2s. 2d. per lb. upon tea, whether viewed as a tax upon the most harmless stimulant enjoyed by the people or as an impediment to the operations of our merchants trading with China, is one of the most indefensible in the tariff. I would reduce the duty to Is. perlb., or to an ad valorem duty yielding the same amount of revenue, by which, according to the estimate of the Chancellor of Exchequer, in his speech on Mr. Cardwell's motion, there would be a less for the first year of 2,000,000 L The duty on timber and wood must be wholly abolished. This is a necessary consequence, if not an accompani ment, of the repeal of the navigation-laws. The amount is 945,0001. (I have taken this and all the follow. ing items from the finance accounts for the year ending January 5, 1848, deducting the expense of collection.) I propose, also, to take the duty off butter, cheese, and up wards of one hundred items of the Customs duties, yield ing altogether 516,000/.; and leaving only about 20 arti cles in the tariff paying duty. These three sums amount to 3,461,0001. Next, with reference to the Excise. It may be laid down as a rule, that, whenes er you touch an Excise duty at all, it should be totally abolished; because the great objection to such taxes, the interference of the excise men with the processes of production, applies equally whether the duty be great or small. This should be borne in mind if you deal with the malt tax, and you must deal with it, if you would enlist the sympathy of the county constituents in your movement. To a man the farmers are in favour of the repeal of the malt tax, and this, not merely because it would.add to the contentment of the peasantry by cheapening a beverage which they universally consume, and also relieve their employers from a heavy tax upon the beer they give to their labourers at certain seasons, but the best agriclturists loudly protest against the duty on the plea that it denies them the free application of their capital to the fatten ing of cattle upon malt, and thus prevents the profitable growth of barley upon stiff clay lands. Upon this sub ject Mr. Lattimore, speaking for an influential deputa tion of landlords and farmers which had an interview with Lord J. Russell in February last, said,—" The malt tax disarranged the best modes of cultivation, en hanced the price of artificial food for stock and cattle, whereby the fertility of the soil was deteriorated, the demand for labour lessened, the supply of bread-corn and animal food considerably decreased, and the com forts of the people and the wealth of the country were also greatly impaired." Your " national budget" would therefore be undeserving the name if it did not include the total repeal of the malt tax, amounting to 4,260,0001. In Kent, Sussex, and two or three other counties, there is an active agitation against the hop duty. The expense of collecting this tax is alone sufficient to con. demn it. Nothing could so well exemplify the wasteful and costly process of collecting revenue by means of Excise duties as the spectacle exhibited, for a month or six weeks every autumn, of a little army of excisemen dispersing themselves over half a score of counties, to levy a tax in the fields and gardens of the hop-planters. I question) if' anything more barbarous could be met with in Turkey or any uncivilized country where politi cal economy had never been heard of even by name. I propose, therefore, the abolition of the hop duty, amounting to 416,000/. By including the malt and hop duties you will secure the co-operation of the farmers, l w e h gi o s , la n ti o e w h, t h h e a v t e fr u ee ee t hi rade meh is in t t h e e re s s e t tted w l ith principle theih hah o i f u te o ht r e of the towns. The landlords, too (at least such of them as are not merely professional politicians), will hence forth be found in the front ranks of those who advocate economy and retrenchment in the national expenditure. Already they have begun to ask, and with good reason, why should we not have cheap government as well as cheap corn? Next is the article of soap. What a satire upon our sanitary acts, and all the 'pompous agitations in favour of baths and washhouses is this tax upon the necessary element of cleanliness ? Not a word need be said upon it ; the duty, amounting to 850,0001., must come off, it it only be to cleanse us from the stain of national hypo crisy. That which soap is to the skin, literature is to the healthy action of the mind, and yet we raise 7 20,0001. a year from a heavy duty upon paper ; by in citlhidiirnmgyiaeitalseruin your budget, you will promote the reli gnu?, moral, and intellectual advancement of the people will draw towardsria i e y a b lo nat i onalme tthoe education. all parties, sympathies Theowf h t a hl t ee e s vL t r owt mec Scotch items m be e Ex ciseLT ai r ls e et f sl o o r y, , l' i ll ol Z i r r S c . osmu a to am tax ou e n s t p t r o op 6, e 2 r 4 ly 6, 6 o o 6o ca /. although does not, the window-tax, which, lath • Excise duties, operate as a direct impediment to produc- T h h k e e re th i e s tivo industry, is open to the fearful objection that it ‘• obstructs the light of heaven;" and, in these brief words, we may read its inevitable doom. London, Bath, and other large cities are pressing the abolition of this tax annually upon the House, through Lord Duncan, and you must not think of excluding it from your" National Budget." It yields 1,610,0001: My " ways and means" are so nearly exhausted that I can only add the advertisement duty, amounting to 160,000/. These two sums amount to 1,770,0001. The total loss of revenue by the reduction of the above duties and taxes, is 11,477,000/., or 23,0001 less than the 11,500,000/. of surplus which I propose to create by the diminution of expenditure, and the equalization of the probate and legacy duty. I subjoin a summary of the foregoing, in a concise tabular form : NATIONAL BUDGET. Proposed reduction of expendi ture •• ... £10,000,000 Proposed legacy and probate duty upon real estate, whether en tailed or ucentailed 1,500,000 Proposed amount of surplus re venue .. ... ••• •• ... £11,500,000 rnoroszu REDUCTIONS OF DUTIES AND TAXES. Customs Duties. Loss of Revenue. Tea—Duty to be reduced to Is. per pound ..• £2,000,000 Timber and Wood —Duty abo lished ... •• Butter, cheese, and upwards of 100 smaller items of the tariff— Duties abolished ... 945,000 516,000 Total loss upon Customs EXCISE DUTIES. Malt—Duty abolished .•• Hops Soap Paper ... £4,260,000 ... 416,000 ... 850,000 .. 720,000 Total loss on Excise ... TAX/111. £3,461,000 ... £6,246,000 Window-tax—abolished £1,610,000 Advertisement duty—abolished ... 160,000 Total of taxes ... Z 1,170,000 Total loss upon Customs, Excise, and Taxes £11,477,000 I repeat that I do not propose this as a complete financial scheme. Many articles are omitted which I should not wish to be considered to hare willingly ex cluded, or be thought to have overlooked. I have gone again and again through the dismal catalogue of oar fiscal burdens, and if there be any of the items of the Customs or Excise duties which you are sorry to miss from the above table, be assured that the omission has caused me equal regret. Bricks ought especially to stand one of the first on the list for a prospective budget. To bacco is a very strong case, but it involves so large an amount of revenue that I could not include it. The wine duties also call for a revision, not to name others. Then there are some duties and taxes, the modification of which does not necessarily involve a loss of revenue, and which may be dealt with independently of the pre sent plan. The duties on foreign and colonial coffee ought to be forthwith equalized; the property and in come-tax should be revised, and a just discrimination made between fixed and precarious incomes. For a stamp upon newspapers a stamped envelope might be substi tuted, bearing upon those only which are transmitted by post; and the stamp duties generally call loudly for an equitable revision. I mention these examples to show that, by adopting the proposed " national budget," you would not be precluded from effecting other financial reforms. On the contrary, I believe if the industry of the country were further disburthened to the extent I have named, there would be an accruing surplus revenue from the remaining sources of taxation, which would afford the means of continually making further modifi cations and reductions of duties. This would have been the case in times past, notwithstanding all the restric tions upon our commerce, if the increased income had not been swallowed up by Government extravagance. For instance, had not the expenditure been increased since the time of the Duke of Wellington's Administra- tion, in 1830, then notwithstanding the very large amount of taxes and duties since remitted, there would now have been a surplus revenue, without the income-tax. A word or two as to the mode by which I would re duce our expenditure to the amount of 1835. The great increase since that year has been upon the army, navy, and Ordnance. In the year 1835 our armaments cost us 11,657,000 L; for the twelve months ended on the sth day of April last they reached, including 1,100,0001. for the Kafir war, 19,341,0001.; and I expect that the charge for the present year will not be much less. For the same time the total expenditure of the Government, ex clusive of the interest of the debt, was 26,747,0001., and, deducting 19,341,0001., the cost of our warlike establish ments, it leaves only 7,406,000/. to cover the whole of the civil expenses of the Government. It will be self evident, then, that if any material retrenchment be effected, it must be mainly upon our armaments, the cost of which has been increased 7,000,0001.; and this during a period of profound peace, and in the absence of all revolutionary convulsions, and whilst each succes sive speech from the throne assured the assembled Par liament of the peaceful disposition of all foreign Powers. But if we take into calculation the present reduced value of commodities, it will be found that 10,000,0001. expended upon our armaments now will go much far ther than 11,6571. did in 1835; and I suggest that you propose the former sum as the maximum expenditure for the army, navy, and Ordnance, by which you will gain about 8,500,0001. of the proposed saving of 10,000,000/. I by no means, however, wish to commit your association to 10,000,0001. as the minimum cost of our armaments, for I have a strong belief that you will live to see the waste reduced to less tban half that sum. The above-named amount will be three times as great as that of the United States; greater than that incurred for the same purpose by Russia, Austria, or Prussia; and, judging by her promised reductions, nearly, if not quite, as large as that of France. The remaining 1,500.0001. to complete the proposed reduction of 10,000,000/. you will have little difficulty in saving from all the other heads of expenditure, including the cost of collecting the revenue, and the management of the Crown lands. I repeat, emphatically, all hopes of any material re lief from taxation binges upon the question of a large reduction in the cost of our army, navy, and Ordnance. If it be objected that I do not specify the particular re giments or ships which I propose to reduce, my answer is—that the only way in which the public can restrict the Government at all, in its warlike expenditure at a time of peace, is by limiting the amount of money. Disband a Tveegdim maye t,off a ship to day, and the amount a pay sp spent to-morrow upon steam-basins, or s n b o e r for fresh fortifications at Gibraltrr, Labuan, or Hong- Kong. This was the view entertained by Sir Sir Henry Parnell, a great Whig authority, who, in his work upon financial reform, written when the Duke of Wellington was at the head of affairs, whilst arguing for a reduction in the expenditure of our military departments, says— " Fix upon a much smaller sum, and tell them that they must make it answer." There is another good reason for this course. Some influential persons, who are op posed to any diminution of the strength of our arma ments, yet contend that the present force may be kept up at a very reduced cost. In their eyes, your maxi mum sum may represent a much larger establishment than you contemplate. These parties. probably, would be as willing as myself to put an end to the crimes and cruelties imported into the slave-trade by the interfe rence of our costly fleet of cruisers upon the African coast; or there may be other savings contemplated by them; so that, perhaps, in their opinion, with an expen diture of 10,000,000 1 ., nearly as large an effective force as at present may be maintained. But I am prepared to contend for changes in our fo reign, colonial, and domestic policy (though I will not attempt to do so at length now) calculated to facilitate a reduction in the amount of our armaments. First and foremost, we must insist that the principles of non-inter ference in the affairs of foreign countries, so loudly pro fessed by politicians of all parties, shall be carried into of our Government. During p tb r e act w ic b e el i e n etfheleeptolicy year a fleet as formidable as that required by the Americans to watch over their commerce in all parts of the globe was maintained in the Tagus, out of the taxes of the British people, for the service of the conrt and Government of Portugal. At this moment we have as large a fleet in the Straits of Messina, engaged in an armed interference between the King of Naples and his Sicilian subjects ' with no more interest or right on our part than the Govern ment of the United States would have to send a squadron off Holyhead, and assume the character of an armed mediator between England and Ireland. For three or four years we have had a fleet in the River Plate, interfering in the endless and inexplicable squab bles of the Monte Yideans and the Buenos Ayrians, and which has at last ended in a ridiculous failure. I would wish to see our Government spare the people this useless expense, by simply following the rule observed by individuals, of leaving other nations to settle their quarrels, and minding its own business better. I am also aware that any great reduction in our mili tary establishments must depend upon a complete change in our colonial system; and I consider such a change to be the necessary consequence of our recent commercial policy. lam prepared to carry out logically the principle of free-trade in our future relationship with our colonies. Nay more, I always contemplated that the practical application of that principle would so simplify the question, that it would not be possible after wards to continue the ruinous colonial expenditure which we have hitherto sustained. So long as protection was our ruling policy, the nation believed that the ex clusive trade with our colonies compensated us for the expenses of governing and guarding them. I did not, of course, share in that opinion; but there was consistency, if not wisdom, i n t h ose w h o did. But we have now de clared that, for all commercial purposes, they shall in future stand in precisely the same relationship towards us as foreign countries. For 70 years we have denied ourselves the right, b y s t a t u t e , to tax them for im perial purposes. Under these altered circumstances, will anybody be found, even among the Protectionists, ay, even Lord Stanh o p e hi mse lf, w ho is prepared to main fain that henceforth the only exclusive connexion we are to preserve with our colonies is the monopoly of the ex pense of governing and garrisoning them? Once let them see that tree trade is the irrevocable policy of the country, and the Protectionists themselves will join with me in demanding or forty little ar m i es w hi c h ( e xclusive of the troops in an exemption from thelexpense of the thirty the merely military fortresses of Gibraltar, &c.) are maintained at the cost of this country in all parts of the globe ; together with the little army always afloat for the purpose, incredible as such folly may hereafter ap pear, of transporting reliefs of soldiers from England to serve as policemen for Englishmen at the Antipodes We have only to give to the colonists that which is their birthright—the control over their expenditure, and the administration of their own local affairs, and they will be willing, as they are perfectly able, to bear all the cost of their own civil and military establishments. And, finally, I contend that we must endeavour to act at home more in accordance with the good old constitu tional principle of governing by the civil, and not the military, power. We are, I fear, tending towards too great a great a reliance upon soldiers, and too little on measures calculated to insure the contentment of the great body of the people. It was madness, indeed, to think of relying on bayonets for the permanent support of our institutions, after the warning examples afforded by so many countries on the Continent, where so lately we saw military despotism crumbling beneath the weight of its own intolerable costliness. And even if armed authority has everywhere resumed its sway, has that solved the problem of their financial embarrassments? On the contrary, they have only entered again upon the more vicious circle, where enormous armaments lead to increased expenditure, to be met with augmented taxes, which will be followed by groaning discontent, and end as before, in convulsion. I cannot conclude without tendering you and your fellow-labourers my best thanks. By your efforts to mitigate the pressure of unjust taxation, to remove all obstacles from the :path of industry, and to widen the channels of foreign commerce, you are doing that which, more than armed regiments,_ will contribute to the sta b y of our institutions, and the peace and prosperity of the country. It will be gratifying to me, if, in this too long letter, I have succeeded in rendering the slightest service to the cause in which you are embarked. My sole object has been to give a practical aim to your valuable efforts, so that at every step you take you may find yourselves nearer to a defined object, the attainment of which shall be some recompense for the labours of an agitation which, I trust, will become national; and I remain, dear Sir, faithfully yours, RICHARD COBDEN. To Robertson Gladstone, Esq., President of the Liverpool Financial Reform Association LAW INTELLIGENCE. COURT OF QUEEN'S BENCH, Dec.2l. Sittings at Guildhall, before Lord DiziraiN and Com mon Juries.) GODIMERT V. SPALDING ♦ND SLOWNITZ. This was an action to recover compensation in damages for an assault on the plaintiff by the defendants. It appeared that the plaintiff is a Frenchman, and a teacher of languages, and that he bad resided in this country for the last 30 years. He occupied a house in Eastbourne-terrace, Sussex-square, Hyde-park, and the defendants came to reside with him as partial boarders in the early part of the present year, the defendant Spalding, who holds an appointment in the Post-office, agreeing to pay 60/. a year, and Slownitz, a teacher of the German language, 401. Spalding having been absent about a month was excused the payment of his board during that time. When the bills were presented, which were stated to have been but indifferently discharged, Slownitz claimed exemption for two or three •` teas," which he had drank elsewhere. The plaintiff declined to make any exception for so trifling %matter. 11l •feeling, therefore, sprang up, and the defendants having been pressed for payment of their respective accounts, they became offended, and gave notice to leave. On the 28th of August, the day they were going to leave, Slownitz followed the plaintiff up stairs, collared him, and called upon the other defendant, who was above, to come out of the room. Spalding came down, and struck the plaintiff a violent blow between the eyes which produced a black-eye and confined the plain tiff to his home for a fortnight. He also threatened to turn him out of the house; and told the plaintiff's wife that if she was a man he would strike her. No evidence was adduced to dispute the facts pro duced on behalf of the plaintiff. It was shown, how ever, in cross-examination, that Spalding had said that he would rather have give 1,000/. than the occurrence should have happened. The jury found a verdict for the plaintiff—Damages 201. COURT OF EXCHEQUER, Dec. 21. HILLARD (EXECUTRIX) V. THE LANCASHIRE AND YORE. SHIRE RAILWAY COMPANY. This was an_ action brought, under Lord Campbell's Death by Accident Act, to recover compensation in damages for the loss sustained by the plaintiff in conse quence of her husband having been killed on the de fendants' line, through the negligence of their servants. The defendants had simply peaded not guilty. On the 16th of September, 1g47, the deceased, a young man, twenty-seven years of age, who was an inspector in the service of the Manchester and Leeds Electric Tele graph Company, was travelling on the defendants' line by the evening express train from Manchester to Wake field, when the carriage in which he was got off the lino, and after being dragged for a considerable distance, and through a tunnel, came in contact with the platform of the Sowerby-bridge station. A little be yond this point the carriage was detached from the train, and the wheels torn off by an ash-pit, and hence it was that the deceased was dashed from the carriage. The carriage at the time contained Mr. Weston, the Sur veyor-General of the Customs, Captain Ellis and his secretary, Mr. Moon, and the deceased. The deceased was killed on the spot, Mr. Weston died almost imme diately after he WAS taken up, and Mr. Moon was carried home insensible. For the defence it was alleged that the accident was caused by a broken rail, and therefore it was una voidable. The jury returned a verdict for the plaintiff—Damages 7501. ASSIZE INTELLIGENCE. NORTHERN ClRCUlT.—Liverpool, Dec. 21. This morning the trial of Joseph Blundell, for coal stealing at Wigan, was resumed before Mr. Justice Erle, and, after the examination of several witnesses in support of the pro secution, Mr. JAMES addressed the jury for the prisoner, and, The Learned JUDGE having summed up, The jury retired, and, after an absence of a quarter of an hour, returned with a verdict of Guilty. His LOZDSHIP, in passing sentence, said the prisoner had been convicted of a crime of enormous magnitude—that of stealing several thousand square yards of coal ; and he should not be doing his duty if he did not pass upon him a severe sentence. He then sentenced the prisoner to seven years' transportation. This closed the business of the assizes ; and the Court rose at half•past four. York, December 20. NISI PRIUS COURT.—(Before Mr. Baron PLArr.) Thomas Malkin, aged 17, was charged with the wilful murder of Hester Inman, at Leeds, on the Bth October. The prisoner and the deceased were lovers; and it was proved that he had called her out from her parents' house into the garden about ten o'clock at night. Immediately after the cry of murder was raised; the girl was found stabbed in two or three places with a dagger; and she died almost immediately, saying that he had stabbed her. The prisoner was seen running away; and just after the murder he admitted, in the presence of some persons in his mother's house, that "he had done for her." The dagger with which the murder was committed was identified by a smith as simi lar to one which he bad forged for the prisoner a short time before; and evidence was given of the prisoner having fre quently threatened to kill the deceased. The jury returned a verdict of Guilty, recommending the prisoner to mercy on account of his youth. Sentence of death was passed in the usual form. PrtESIDENC Y OF THE FRENCH REPUBLIC. The following is the state of the gross poll for al' the candidates as officially announced to the Nationa' Assembly : Louis Napoleon Bonaparte .. General Cavaignac 5,434,226 .. 1,448,107 M. Ledru Rollin • • 370,119 M. Raspail 36,900 M. Lamartine . 17,910 General Changarnier 4,790 Votes lost ••• . • 12,600 The Committee of Public instruction examined on Tuesday the proposition of M. Rolland, tending to transfer the National Library from the Rue Richelieu to the Palace of the Tuileries. In general, the com mittee appeared favourable to this change. Several members connected with it the idea of finishing the Louvre, with a view to see the libraries and conserva tories placed near the museums. The expense of ap propriating the Tuileries to the above purpose could be defrayed by the sale of the buildings and ground now occupied by the National Libr ar y, th e f un d s re maining over being employed in the completion of the Louvre. During the sitting of the National Assembly on Wednesday, the Members of the Montagne passed from hand to hand a pamphlet, which caused a certain sensation. It contains counsels from M. Emile de Girardin to the future President of the Republic. The following is said to be, in substance, the measures which M. Emile de Girardin thinks useful, and even indispensable :-1. A reduction of the number of Ministers to three; a Minister of Direction, a Minister of Receipts, and a Minister of Expenses, with nu merous secretaries-general and directors charged with special duties. 9. A general amnesty, without other exception than for persons convicted of ordinary crimes. 3. An absolute and unlimited freedom of the press, and no caution-money. Interdiction of the sale of journals in the public thoroughfares. 4. Unlimited liberty for associations and clubs. A strict repression of attroupements. 5. An unlimited freedom of education. 6. A. recal of the exiled princes as simple citizens. 7. To give the government of Algeria to the Duke d'Aumale, and the Presidency of the Board of Admiralty to the Prince de Joinville. The contest was ♦ery close, and three ballots took , place before an "absolute majority" could be ob tained. The first gave 187 votes to M. Simeon, and 126 to his opponent ; the second reduced this ma jority to a single vote, the Austrian members having cast their suffrages into the scale of M. Kirchgessner, who thus obtained 214 votes to M. Simeon 's 215. The third and decisive ballot, however, conferred the Presidency on the latter gentleman by a majority of 10, the numbers being 233 and 223. A message from the Reichsverweser was after wards read, announcing the appointment of M. Von Gagern (late President of the Assembly) as Presi sident of the Council of Ministers. The new Minister hereupon rose, and read a paper proclaiming the principles on which the Ministers imagine that the relations with Austria may be re gulated, and concluding by a request that the Parliament would authorise the Cabinet to negotiate. The reading of this do . cument excited great in dignation amongst the Austrians of all parties, as well as the Radicals. It was referred to a committee, with orders to report. HOLLAND. SECOND CHAMBER OF THE STATES GENERAL. THE lIAGUE, DEC. 20.—At the opening of the sitting the President communicated a message from the Minister of Foreign Affairs, accompanying the text of the additional articles of the treaty of May, 1818, constituted between the Netherlands and Great Britain, on traffic in slaves. These pieces are ordered to be printed, and pre sented to the Committee, who are to report to the Chambers. M. Von Vollenhoeven desired to put some ques tions to the Government relative to the state of the West Indies. " Some days since," said the Hon. Member, "some of the public journals contained a letter from Pa ramaribo, which contained some very disquieting intel ligence relative to the future prosperity of our colonies. Several Dutch houses, and the Hon. Member himself, were then made acquainted with facts which justified these apprehensions. The emancipation of the slaves was spoken of, nay the very time for that emancipa tion fixed without the slightest allusion to any in demnity to the proprietors of those slaves. The letter also made mention that the Government had refused to aid those proprietors whose slaves refused to work. The disquiet caused by these assertions to persons in the colonies, and also to proprietors resident in Holland itself, respecting their property in those countries, might be readily conceived. He, therefore, called upon the Government to give a categorical reply." The Minister of the Colonies and Minister of Ma rine, who is charged, ad interim with the porfolio of the Colonies, replied that the Home Government had not sent out any instruction whatever to the Colonial Government relative to the emancipation of the slaves, and that what was written in the letter in question, and in the journals alluded to, was utterly without foundation.—Dutch Papers, Dec. 20. COMMERCIAL INTELLIGENCE. NEW YORK, DEC. 6. The non-arrival of the Britannia, now past due, has dimi nished the business by this packet. The Exchange on London is drooping, and sales have been made from 8 3 % to 8, and leaving off at 8. For bills on Paris at short dates, say ten days, the rate is 5.15 to 22k. The American steamer the United States, which went to sea to-day, for Havre, carried out about 125,000 dollars in coin. The unusually fine and moderate weather we are enjoying, by prolonging the period of internal navigation, has in creased our stocks of flour and wheat, and this circumstance together with the non-arrival of the steamer, has caused some pause in purchases, and a drooping of prices. Notice has been given that the Treasury Department is ready to redeem all Treasury notes issued under the Act of January, 1847, at maturity. As the interest will cease after that time, it is highly probable that, in the meantime, those outstanding will be funded into a twenty years' stock, dated from the time of issue, bearing six per cent. interest. Counterfeit 20 dollar bills of the Bank of Georgetown are in circulation. They are well executed, and calculated to deceive, unless examined closely. It is supposed there are large numbers in circulation at the south. GOVERNMENT SICCURITIES. Offered. Asked ... 102} 1021 ... 105 105* ... 105} 1051 ... losi 1061 ... 97 98} , 95 97 . 106 106} United States Loan, 6 per cent., 1856, Ditto 6 per cent., 1862 ... Ditto 6 per cent., 1867 ... Ditto 6 per cent., 1868 ... Ditto 5 per cent., 1853 Ditto Mexican Indemnity ... Treasury notes, 6 per cent ... STATZ SECURITIES. New York 7 per cent., 1849 •• Ditto, 6 per cent., 1850 ... Ditto 6 per cent., 1854 ... Ditto 6 per cent., 1855 ... Ditto 6 per tent., 1860 Ditto 6 per cent., 1861 ... Ditto 6 per cent., 1861, half-yearly Ditto 6 per cent., 1862 ... Ditto 6 per cent., 1862, half-yearly Ditto 6 per cent., 1867 ... Ditto 34 per cent., 1860 ... Ditto 54 per cent., 1860, half-yearly Ditto 54 per cents., 1861 ... Ditto 54 per cent., 1801, Half-yearly Ditto 54 per cent., 1865 Ditto 54 per cent., 1865, half-yearly Ditto 5 per cent., 1850, ... Ditto 5 per cent., 1853, ... Ditto 5 per cent., 1855, ... Ditto 5 per cent., 1858, ... Ditto 5 per cent., 1859, .. Ditto 5 per cent., 1860, ... 1004 1004 Ditto 5 per cent., 1861, ... 1004 1004 Ditto 5 per cent., 1862, 1004 1004 Cotton—There has been a fair demand since our last, with considerable steadiness, prices having experienced no further depression. Subsequent to the date of our notice of the market for the steamer Acadia, ten days since, prices until the close of last week gradually receded, and they now stand to of a cent. per lb. lower than on the 24th ult. The total receipts of cotton at all the shipping porta are 527,937 bales, against 336,978 to same dates last year, an increase this season of 190,959 bales. The total foreign export this year is 120,604 bales more than last, say 124,058 bales in crease to Great Britain, 17,061 decrease to France, 6,635 in crease to North of Europe, • and 6,922 increase to other foreign ports. The shipments from Southern to Northern ports are 53,249 bales more this season than last ; and there Is an increase in stock of 20,293 bales. The sales since the 2 ith ult. are 9,300 bales; and, since our last, 3,!00, as fol lows : .. 101 i 101! ... 105 109 ... 105 1061 ... 108 108/ ... 108 109/ .. 108 108 i ... ... 108 i - ... 102 1031 ••• - _ ... - 102 •.• - - ... 102 103 i ... _ 100 ... 100} 1001 ... 100 i 1001 Upland and Florida. Mobile, N. 0., & Texas, 2,700 bales. 1,100 bales. . ... none ... to sc. nferior Ordinary to good ordinary... 5i to bic. Middling to good middling 51- to 6 Middling fair to fair ... 6A to 6 Fully fair to good fair ... 6i to Gi The arrivals have been from— Galveraton New Orleans ... Georgia ... South Carolina ... North Carolina ... Baltimore .. 5i to 51 51 1 to 6i 64 to 6i ... 7 to 7i ... ... 719 bales. ... ... 909 ... ... ... 1,595 ... ... ... 2,746 .. Total import since the let inst. ... 5,998 bales. Export, from let to 30th November. 1848. 1847. Cotton ••• 21,729 bales ... 15,073 bales. Expert from the United States : Since the Ist of September, 1848 Same time, 1847 ... 331,601 bales. ... 210,997 „ . . Since the 21st of November the continued mild weather has caused the canal to be kept open for a longer period than usual, thereby adding considerably to the stock of flour and grain ; prices have, consequently, declined a trifle, and the market closes dull. As regards the stock in store, there is much diversity of opinion, but those best informed estimate it at 300,100 to 400,000 barrels of all kinds. The exports from this port to Great Britain and Ireland for the week end ing the 27th of November, 29,952 barrels of flour; 1,064 ditto corn meal ; 22,494 bushels wheat, and 150,983 bushels corn. Freights remain at about former rates of 2s. to 2& 3d. per barrel on flour, and 6d. to 7d. per bushel on grain to Liver pool. Flour-There is a good home demand, but only a light in quiry for export; with the large receipts of the last fort night, prices have declined about 6ic. per barrel frons the closing rates per America steamer. The late sales have ranged from 5 dolls. 25c. to 5 dolls. 31ie. for the common Oswego and Western, and 5 dolls. 31ic. to 5 dolls. 44c. for the strait brands of estern and Genessee. Southern kinds r are selling at 5 dolls. 50c. to 5 dolls. 56ic. Rye flour is held at 3 d o ll s . 12i c . to 3 d o ll s . 18}c., and corn meal 3 dolls. to 3 do lls. ain 12ic. for Jersey yellow. Genessee wheat is selling at 125 c. to 127 c. per 601 b. and ° 2 t __ c. mixed Illinois and Ohio, 105 c. to 115 c. Rye c barley,is dul I at at 63c. p:1.561b. Oats a re se lli ng a t 34 c . t o 35. ; Uae• per 481 b ; Indian corn in fair demand, at 72c. 73c. per 561 b for . round yellow old, and 65c. to 67c.- for to Freights-To Londonaccording London quantity going forward is large, barr zist. has 1,000 barrels turpentine at 2s. 6d. to 35.; 300 35.; 2,000 barrels flour, arrel; 900 tierces beef, 6s. to 2s. 6d ; oil-cake, 2s. 6d. per pork , .and boxes, bacon and kegs, 3s. 6d, ; 5,100 bushels wheat, i , lx l xes, 2s. 9d. •, and n bags , 7d.; and 7,500 11. los . The two succeeding packets have al ready6s. 6d. ; 150 casks cheese, as s . lard, 325. 6d.; tierces tobacco, ;bal esL6 oil, 11, l o rd 17,000 reception of vmd tile and going on board, 500 cas k gall gallons s engaged, oil , boxes cheese, at 1/. 155.; 2,500 barrels bulk of 500 barrels bacon and lard, 1/. 15s. To . there is less disposition to operate until the advices. We hear only of moderate quantities of corn bulk at 7d. ; flour, 2s. • 150 barrels pork, 2s. 9d. ; 35. 3 e tierees in i beet, 35.; 110 boxes bacon, 1/. 7s. 6d.; other he avy goods I/. ss. to 11. 7s. 6d. ; cotton, 5-32 d. ; and wheat in bags a n d bulk, bid. to 7d., &c. To Glasgow we hear of 5,5000 bushels corn at 7id. ; lOO bales cotton, id. ; and lard, 11. 108. To Havre, the United States took 550 bales cotton, at i a cent. ; 10,0001 b. whalebone, ; 350 casks rice, 8 dolls.; and 123,000 dolls. specie at i f to i per cent., principally at i. A French vessel filled up at 5-16ths of a cent. for cotton, and a for 12,0001 b. bone. sI SERVICE OF PARLIAMENTARY NOTICES THROUG TIM POST-OFFICE.—AII Parliamentary notices , w hich by the standing orders of either House of Parliament may be served later than the 15th day of December, may be posted after the 12th of December, subject, however, to the like regulations for the posting, dispatch, and delivery of the same, as those already appointed by the Postmaster-General for notices required to be served on or before the 15th December. • . .,J• - •Ai RUMOURED DEFEAT OF THE AUSTRI INS BY THE HUNGARIANS. The National of Wednesday states that letters have been received in Paris from Hungary, announcing that the Hungarian army posted in front of Pres burg, under the command of General Gorgey, had had an engagement with 20,000 Austrians, in which the latter had been completely defeated. The Aus trian cavalry which had, it was said, been drawn into an ambuscade in the midst of uneven ground, had suffered immensely. It was also said that several pieces of cannon had fallen into the hands of the Hungarians. The National, without guaranteeing the authenticity of this intelligence, says that it ema nates from persons of honourable character in whom reliance may be placed, and that the report of the entry of the Russians into Transylvania seems to confirm its accuracy, as the Austrian Government would only solicit Russian intervention in the last extremity. FRANKFORT. The Austrian Deputies to the German Parliament have formed themselves into a clique under Schmer ling, and are ready to side with any party which will oppose Prussian supremacy. At the sitting of the 18th the first order of the day was the election of a President. There were two candidates for the honour—XL Simeon, of Konigsberg, of the " right," and M iiirchgessuer, % liberal Bavarian, of the " left centre: ITALY. We have received the following statement in the Contemporaneo of Rome, of the 10th inst. : "Cardinal Castracane, as we are assured, has ex plained the state of feeling in the country to the Pope, which, if his Holiness does not return forthwith, or it he does not fully accept the programme of the Ministry, is disposed to establish a new Government. The reply of the Pope is expected to•morrow, and if the reply be a refusal, there will be an end to the domination of the Popes in Rome. The Government of the Popes is, in truth, not so heroic or so glorious that it ought to be preferred to civil war, nor can we suffer society to be exposed to such serious perils in order to wait until it shall please the Pope to return to a city which he has abandoned. The Roman people by their reiterated ap plications to the Holy Father have shown their respect for Pius IX. on account of his previous conduct, but that respect ought not to induce them to betray the country, to sacrifice principles to an individual, and rights of the people to a man. Why does not Pius IX. address a proclamation to the entire Italian nation convoking a constituent assembly ; why does he not abandon the wretches who have ruined him, and return to Rome, he who cannot move a step at Gaeta without being escorted by two colonels of the King of Naples ? Ohl if France comprehended her interests, or rather if her statesmen really loved their country, all would come right in a few days. Rome and Paris would give each other the hand, and an Italian-French alliance would be founded on principle and on religion." Il Peneiero Italiano, of Genoa, of the 16th instant, applauds the acts of Sterbini We believed you hitherto, Sterbini," says that journal, " to be an intelligent man. We shall henceforth count you amongst our most courageous men. But, for God's sake, do not suffer the opportunity to escape of saving the country. That which must be done instantly, is to convoke the Italian Constituent on the basis of uni ♦ersal suffrage and assemble it in the capital. But watch! watch! To arms! To arms!" The Alba of Florence states from Avenze (Carrara), that on the 12th two hundred Piedmontese entered that town, accompanied by the sub intendant and the syndic of Sarsana, with the intention of occupying it under the pretence of maintaining order and tranquillity. But the energetic remon strances of the Tuscan authorities induced them to retire again beyond the frontier. Some disorders took place at Parma, on the 9th, against the police, who are all Austrian agents ; but the National Guard, fearing to give a pretext for the Austrian troops to enter, restored order mainly by persuasion. In the sitting of the Deputies of Rome on the 9th, the project for a Constituent Assembly, as proposed by Minister Mamiani, was approved by a large ma jority. The 4th and sth articles were adopted unani mously. We find in the Alba of Florence the following de tails of the events that took place at Rome on the 11th :—"This day the Chambers were to assemble to decide the fate of the country. The agitation of the people is at its height. The Chambers opened at 1 P.M. The tribunes were filled to suffocation. However, at half-past two, the legal number of Depu ties had not not yet been completed. The p eo pl e evinced great indignation at this circumstance, and threatened to decide the question alone if the Chamber was not able to do so. They loudly demanded a Provisional Government, and a convocation of an Assembly by universal suffrage. At four P.M., the Chamber declared unanimously that a Regency should be formed of three persons, not deputies, to act in the name of the Pope, and receive from him the proper authority. This junta to cease its functions on the return of his Holiness. On the same day , the Bulldog steamer had arri ve d a t Ci v it a Vec chia with the son of Lord Napier, who had imme diately proceeded to Rome. As this steamer had brought no answer in writing from the Pope to the declarations of the Romans, the Chamber, with much solemnity, proceeded to name a provisional power, composed of three persons, Corsini, senator of Rome; Zucchini, senator of Bologna, and Came rata, Gonfaloniere of Ancona. It ordered a Constituent Assembly to meet immediately, having the power, should the Pope refuse to recognise it, of declaring him fallen from his temporal power, and of constituting a new form of government. Sherbini • declared that the Pope might return to Rome as a Bishop, but not the Cardinals or Prelates. The people cried in the streets :—` Down with the Pope 1 Death to the Cardinals ! Long live the Constituent Assembly !' No disturbance, how ever, took place. At that date the following foreign Ministers had left Rome. viz., those of Sardinia, Prussia, Belgium, Russia, Chili, Mexico, and Ecuador. The Roman Government has issued a declaration con cerning Cavaignac's determination of the 28th ult." Sir George Grey has left town for his seat, Fallodon, Northumberland. LONGEVITY.—The following extraordinary case of longevity is to be found in Paris Girard de Bury was born on the 17th of December, 1746, and has, con sequently, entered his 103 d year. He is the senior ad vocate of Franee, and is in full possession of all his faculties. He placed 900 f. (361.) in the Lafarge Savings Bank, which was reduced to 300 f. by the reduction of two-thirds of the national debt by the law of the 9th Vendimiaire, the work of the great financier Cambon, so much admired by M. Ledru Rollin, and for this sum of 300 f. he now receives, and has continued to do so for several years past, an annual income of 30,000 f. (1,2001.) from the Tontine Lafarge. [ADVERTlSEMENT:j — lndigestion — that parent of so many diseases—may be effectually cured by the use of the celebrated Vegetable Restorative Pills, prepared by John Kaye, of Dalton-hall, near Huddersfield. This assertion is not based upon mere opinion or probability, but upon facts. Jonathan Good, tailor, of Winchester, suffered for years from indigestion, he was recommended to try Kaye's Worsdell's Pills, and as the result, he has enjoyed better health than for years before.—Mr. James Noble, of Brampton, Cumberland, writes,—" My wife was for a long time troubled with pains in the stomach, loss of appetite, sickness, and general debility; she was fully restored to health by taking one small box of these Pills." Mrs. W., of Ewelme, Wallingford, writing to Mr. C. J. Vennimore, says,—" I believe Kaye's Pills saved my life last summer, when I was attacked by the cholera." "Ellen Egglestone, Feling-bridge, near Bishop Auckland, was affected with disease of the bowels for two years, but was restored to perfect health by tak ing one box of Kaye's Worsdell's Pills." Every one suffering from Bile, Flatulency, or Indigestion, is earnestly recommended to give these Pills a trial. See that Mr. Kaye's coat of arms and a fac• simile of his signature are printed on the directions for use wrapped round each box, as without this none are genuine. Sold by all Medicine Venders, price Is. lid. ; 2s. 9d.; or 4s. 6d. per box. FADVERTISEMENT:j—THE EARL OF ALDBOROUGH AND HoLtowAx's PILLs.—An astounding cure by this miraculous medicine, arter every other means had failed. See extract from his Lordship's letter, dated " Villa Messina, Leghorn, Feb. 21, 1845. Professor Holloway—Sir : I beg to acquaint you that your pills have effected a cure of a disorder in my liver and stomach all the most eminent of the faculty, at home and all ever the continent, had not been able to effect ; nay, not ever Hid waters of Carlsbad or Ma rienbad. (Signed) " ALDBOROtifin." These wonderful pills will cure any dliease of the liver or stomach.—Sold (also Holloway's Ointment) at Professor Holloway's Establishment, 244, Strand, and by all ineatclne vendors threughout the clyillael World. THE COUNTRY MARKETS. BOSTON, DEC. 20.—At this day's market the supply of wheat was above an average, and no progress could be made in sales until a decline of 2s or 3s per quarter was submitted to. We had a moderate show of oats and beans, and both were the turn cheaper. Wheat, red, 38s to 445; white, 475; oats, 13s to 225; beans, new, 00s to 00s; old, 37s to 40s per quarter. Return of corn for the week ending Dec. 16—Wheat 2,941 qrs, 6,5201 8s 9d (aver. 44s 441); barley, 71 qrs 4 bush, 96/ 19s 6d (aver. 27s 1d); oats 1,411 qrs, 1,1031 Ils 6d (aver. 15s 7d); beans, 50 qrs, 74/ 12s (aver. 29s 10d); peas, 75 qrs, 1531 16s (aver. 41s). SPALDING, DEC. 19 —Our trade for wheat bas been extremely languid; the little business done today was at a decline of is to 2s. Only the needy and the nervous would sell at the abatement. One or two merchants seemed disposed to take advantage of this opportunity to pick up the cheap lots, but their operations were not extensive. Wheat, red, 17st, 38s to 425; 17ist, 41s to 435; 18st, 43s to 455; white Is higher. We had only a small show of oats, and they sold at the prices of last market day. Beans without alteration. Return of sales for the week ending this day—Wheat,;l,3l9 qrs, 42s 9d; oats, 889 qrs, 15 sd; beans, 76 qrs, 37 s 4d. MARKET RASEN, DEC. 19.—Uur market to-day may still be quoted on somewhat lower terms than last week in all kinds of grain. Return of sales up to Saturday last—Wheat, 396 qrs, 349/ 9s 6d (aver. 47s Hid); barley, 166 qrs, 2151 14s (aver. 25s 114 d) ; oats, 43 qrs, 36/ 16s (aver. 17s lid). LOUTH, DEc. 20.—The corn market to-day was with out life, and the business done was trivial, the farmers not being willing to submit to the reduction which buyers required. Prices for all articles may be called lower, say wheat 2s, and beans, barley, and oats each is per quarter. Wheat, 38s to 455; barley, 25s to 295; oats, 15s to 18s; beaus 34s to 39s per qr. Seconds flour 2s per stone. NEWARK, DEC. 20.—There was a large attendance of sellers of grain at market to-day, but the wheat and barley consisted -of that of second qualities principally. The millers and maltsters purchased very sparingly at decline in fine new wheat of full Is per quarter, in second qualities 2a to 3s. Fine malting barleys were readily purchased at is, and ordinary qualities and grinding at 2s to 3s per qnarter lower than last week. Even at the decline noted there was little disposition on the part of the buyers to increase their stocks. Beans, peas, and oats were each is per quarter cheaper, and at this de cline very little was passing.—Wheut, white, 49s to 525, red 46s to'.sos; barley, maning,3o3 to 325; grinding 26s to 28s; beans, 40s to 435; peas, white 42s to 445; oats, new 16i to 21s, old 26s to 30s; Tares 56s to 60s; Malt 56s to 58s per qr. EDINBURGH, DEC.2O.—The quantity of vt heat brought forward to-day was 797 qrs.. being 106 qrs. more than last week. Top price down 6s, but the average 24d up -195 qrs. unsold. The quantity of barley brought forward was 1,872 qrs., being 552 qrs. more than last week. Price on the top up 6d, and the average 2id up-499 qrs. un sold. Ot oats we had 892 qrs. brought forward, or 232 qrs. less than last week. Top price is 4d down, and the average 6:1 up-7 7 qrs unsold. The quantity of beans to-day was 134 qrs., or 35 qrs. less than last week. Prices on the top is, and the average 3s 5d up-45 qrs. unsold. Top of Wheat „ Barley „ Oats „ Beans 64i1b. 5811 b. ... 44 lb. ... 65 lb. 55s Od 353'.'6d 22s 8d 36s 9cl EDINBURGH CATTLE MARKET, DEC. 20.—The supply of cattle this morning was 416, being 2 more than last week. Sales again very dull, and prices lower. Top price 7s Ud per Dutch stone; current, 7s to 7s 6d; mid dling and inferior, 5s 6d to Gs 6d. A considerable number unsold. The supply of sheep this morning was 2,083, being 163 less than last week. Sales were exceed• in4ly dull, and at the close of the market fully one-half unsold, prices being down. Top of best mutton , sidi current, 4id to sd; middling and inferior, from 3id to 4d per lb. _ . nUNBAR, DEC. 19.—Wheat, weighing 64/lbs., brought 544, and prices to 40s; barley, weighing 55 1 1b5., brought 295, and prices to 23 s 9d ; oats, weighin g 43-ilbs., brought 21s, and prices to I7s 6d; beans and peas, weighing 65Vbs., brought 32s Orl, and prices to 28s. CORK, DEC. 20.—Flour—First quality, 16s to 171; second ditto, 14s 6d to 15s 6d; household, lls to 14s; third ditto, 9s to lOs per cwt. Oatmeal, 12s to 12s 6d per cwt. Indian corn, Si 103 to 8115 s; Indian meal, 91 Os to 91 5s per ton. Bran, 41 5s to 515 s per ton. Hay- - Farmers', 35s to 45s Od; average, 42s ; retailers', 42s to 49s per ton; old hay, 45s to 60s per ton. Straw—Far mers', 12s to 275; average, 225; retailers', 26s to 305 per ton. Whisky, at the Distillery, 25 over proof, 6s 3d per imperial gallon. Bread, 6d to 8d per 41b5. Fresh butter, 10d to lld per lb. Beef, 3d to 6d; mut ton, 31d to 5d ; veal, aid to 4id; pork, sid to 7d ; bacon, 6id to 9d; sausages, 5d per lb. Coals—New port, 17s; Lydney, 18s. Culm, 16s per ton. Potatoes, white, lOci to 14d; Minions, 20d. Hides—Market ditto, Ils to 17s; salted ditto, 12s to 17s per cwt; market skins, 2d to 21c1; calf ditto, 2d to 24d; veal skins, 3d to 3id per lb. Tar—Archangel, 18s per bl. Timber—Quebee red pine, 31 15s; yellow ditto, 31; deal, 171 to 20/ per hundred ; Bangor Queens, 3/ 2s 6d per ton. Scotch herrings,l9s to 20s per barrel; Norway ditto, 00s. New foundland dry cod fish, 11/ to 121 103 per ton. Tallow, 475. Wool, lOs to 12s per stone. RAILWAY SHARE MARKETS BRISTOL, Dxc. 21. STOCK EXCHANGE. —The share market was steady, though not quite so firm as yesterday. Great Western, Quarters, were done at 4% dis.—llitto, 171.. Shares, 3 dis.—North Staffordshire, 5% dia. LIVERPOOL, DEC. 21. Srocx ExcnAtton.—The sales are—Birkenhead, Lance. shire, and Cheshire ( late C. and B.), 27/. 104. Shares, 15 3 4 —Eastern Counties, 12 1 ,1—Lancashire and Yorkshire (late Manchester and Birmingham), Fifths, 41. Is. 3d. dis.-- London and North. Western, 121— Ditto, Quarters, 1 p. Manchester, Sheffield, and Lincolnshire, Eighths, 6 die -Ditto, 10/. Preference, la. 6s. 3d.—Ditto, 20/. Shares, II dis. Ditto, Qua: ters, 7 dis.—Midland Stock, 82—Ditto, New Halves, 9 1 /, die.-- South-Eastern and Dover, No. 4, Thirde, 71. Is. 3d. dis. - York, Newcastle, an Berwick (N. and B. Extension), No. 2, 2 dia. MANCHESTER, DEC. 21. STOCK EXCHANOK.—The sales are—Caledonian, Prefer ence, 3-16 p.—Great Northern, 4% c.—North-Western, 9 dis.—South-Eastern and Dover, No. 4, 7%—North Staf fordshire, 5 7-1€ dis.—Kendal and Windermere, 4 1 / 2 —Leeds , Fifths, 3% dis.—Ditto, Quarters, 6%. „ Dac. 21. STOCK EXCHANGE.—There was a considerable amount of business transacted to-day, and prices remained firm. The sales are—Caledonian, 20 1 / B —Lancashire and Yorkshire, New guaranteed 6 per cent , 3 / 1 p.— North British, Thirds, 4N- - North Staffordshire, 51. I is. 3d. dis.—Shrewsbury and Bit” mingham (A), 61. Fs. 3d. dis.—Ditto, Preference, % P. -- Shropshire Union, 3 dis._ _ YORK, DEC. 20. STOCK EXCHANGE.—The business transacted to-day Was as follows :—Great Northern, 7% —North British, Quarters , c.—York, Newcastle, and Berwick (Extension), G. N. E. Purchase, 7. GLASGOW, DEC. 20. STOCK ExcnANoK.—The sales are—Glasgow General Terminus, 10 Glasgow, Kilmarnock, and Ayr, 47;4—Ditto , Halves, No. 1, sW,—Glasgow and Greenock, Halves, 7 1 4 -- Ditto, Preference, 6,R —Great Northern, B%—Manchester , Sheffield, and Lincolnshire, Preference, 10 1 4 —Monklaod Railway, 57.4—Scottish Central, 2614. SOCIETY or ARTs.—The fifth ordinary meeting of thin ociety was held on Wednesday. at their offices in John-street, Adelplsi—Mr. George Moffatt, M.P., Vice- President, in the chair. The minutes of the last meet ing having been read, and a ballot taken for four new directors, who were all unanimously elected, Dr. Bate man read a ver; eloquent and interesting paper on the art of printing, tracing its progress from the time it Yeas discovered, with all its various improvements, up to the present time. At the conclusion of the Learned Doctor's paper, Mr. Davenport (the assistant-secretary) and other gentlemen illustrated the subject by describing various presses, types, specimens of typography, &c., exhibited in the lecture-hall, and which had been supplied for the purpose by Messrs. Sharwood and Co. Wilson and Co , Clymer and Co., Baker and Perkins, Levy, Robson, and Co., Figgins, Whiting, &c. The business of the meet ing was concluded by a cordial vote of thanks being given to Dr. Bateman for his communication. A LARK.—On Friday evening, some mischievous fellows took advantage of the absence of Mrs. Lunn, of the Pig and Whistle, and put some tobacco into the tea kettle. On the family sitting down, the taste of the tea was considered unusual and nauseous, and more sugar was used to make it palatable, but without effvcf- Shortly after rising from the table, Mrs. Lunn, the bar maid, and a female servant were seized with giddy pains in the head and sickness; violent retching succeeded , and for some time the symptoms were alarming. An antidote having been quickly applied, the pain and sick ness subsided, and Mrs. Lunn, after two hours' severe suffering, was enabled to resume her avocations: — Lincolnshire Chronicle. BIRTHS. On the 13th ult., at Wheelock-house, in the county of Chester, the wife of W. Roytance Court, Esq., of a daughter. On the 2d inst., in Dorset-place, Dorset-square, the lady of J. F. Elmslie, Esq., of a son. On the 17th inst., at Cheshunt, the wife 'of the Rev. J. Jessopp, Hon. East India Company's Service, of a son. On the 19th inst., at Glocester-lodge, Hendon, the lady of R. C. Yarborough, Esq., of a son. MARRIED. At Quilon, on the 18th of October, Lieutenant Charles Gardner Boulcott, to Mary, youngest daughter of Lieutenant - Colonel -Taylor. On the 13th inst., at George-street, Edinburgh, Alfred T. Fawkes, Esq., of Chester-square, to Graham, eldest surviv" ing daughter of Thomas Maitland, Esq., of Dundrennany M.P., Solicitor-General for Scotland. On the 19th inst., at St. James's, Norland, Mr. H. comp ton, to Miss Emmeline Montague. On the 19th inst. at St. Leonard's, Heston, Mr. Henry Garland, of Walworth, to Christiana Ann, eldest daughter of J. Sleigenberger, Esq., of Heston, Middlesex. On the 20th inst., at Fulham Church, Mr. C. Y. Robothain I to Anna Jane, ehlest daughter of Matthew Thompson, Esq.? of Stamford-villas, Fulham-road. DIED. At Meerut, on the 18th olUcTober, aged 19, Cornet David Henry dill, sth Bengal Light Cavalry, son of David Hill, Esq., Sussex-square, llyde-park. On the 7th inst., at Caroline-place, F u lh am . roa d, William Cameron, of Manchester, merchant., aged 35. On the 14th inst., Peter Auber, Esq., aged 08. On the 17th inst., at Newcastle, Ireland, aged 26, Captain Jules Isham Routh, 23d Royal Welch Fusileers. At East Cosharn•house, Hants, on the 17th inst., Jane Ellen, the relict of the late Admiral Paterson, aged 76. On the 18th inst., at Hertford, Penelope, widow of Richard Hunt, Esq., aged 77. On the 19th inst., at Brighton, John Gordon Haven, Esq./ formerly Major of the 50th Regiment, aged 87. At Finchlev, Middlesex, aged 72, Th.mas J. Sandilandg, Esq., formerly of Twyning, and late of Tewkesbury, Gloces tershire. London : Printed and Published by MURDO YOUNG, of No. 112, Strand. Printer, at The Sun Office, No, 112, Strani, in the Precinct of the Savoy, in the comity of Middlesex, Friday, December 22, 1846. TO 0.1 electron Warmest altution corded t Yorkstd] rived tc 2,943, lected a: to our cc of gratit Gentle cortlanci the vart my best M At th tintvers of suffer the reqt affords, Great r llfe by po thereby In ordlr Ex Lls fain it...* I be obta Mann, 100-pla, N Polk sion foi rtvailal has, or feitnre Divi Assu Incri ~{ of is larl the DO Done: ASS Azs•l Pro: or any warde Thi runt Pena public ling, and i !o;' uu ot preen t'll In in‘tn, mach S. of a E `lf stan sam in tl secu raw