The Sun.
London, England, 1864-08-23 00:00:00

SPAIN.

The Spanish journals remark with satisfaction
on the manner in which King Dm Francis has beer
received in France :—" We desire," says the Diarie
of Barcelona, " that the journey of the King of
Spain in France, while strengthening the bonds of
friendship which unite the two reigning families,
should contribute equally to the union of the two
nations, end lead to a sincere intiraacy,"based on
the interests, respect, and independence of the two
nations. If at a later period troubles should arise
in Europe, let us not rush into a policy of adven-
tures, nor undertake premature and useless sacri-
fices. Spain must hold herself in readiness, in order
that if she has one day to struggle for one of her
most important interests, she may be fortified by
alliances on which she can reckon." What the in-
terest alluded to is not stated, but probably the
recovery of Gibraltar is meant.

SCHLESWIG-HOLSTEIN.
(From the Times' Cot respondent.)

HAMBURG, August 19.
However hard the terms of the peace, which is
now in progress of negotiation at Vienna, may fall
upon the Danes, it may be questioned whether the
condition of the conquered people will at any time
be worse than is at this present moment that of their
"liberated" follow-subjects, the Sehlesvvig-Hol-
steiners. Moral evils are, for rational beings, the
most unendurable, and the very worst is uncer-
tainty. Now, of one thing done are the people of
the Duchies perfectly sure, and that is, that
whoever else may be destined to settle the affairs
of their country, they will themselves be the last
to have anything to do with the matter. To
consult the wishes of a people as to their national
tendencies and the disposal of their sovereign
rights is, under all circumstances, an almost
impracticable undertaking, bat it becomes an
espeeially hard task when the nation which is thus
to fix its own destinies happens to have no settled
constitutional form upon which its choice may be
based, when, in the general breaking up of the
of sooial order, political passions have been for
some time allowed to run riot, and when the country
is at the same time trodden down by an overbearing
soldiery and overrun by needy and noisy demagogues.
We may be willing to admit that in Holstein,
and in a part of Schleswig, the people considered
themselves, and were Germans, and that, on the
ground of the repulsion and affinity of race, they
aspired to be separated from Denmark and united
to Germany. The troops of the Confederacy and
those of Prussia and Austria have fulfilled that
wish; so thoroughly fulfilled it, that the vote of
the pure Danes and that of Danish loyalists and
sympathisers must go for nothing. Schleswig=
Holstein, and even Lsuenburg, must become Ger-
man; they are German.
What of it ? Now that it is settled that these
people belong to Germany, is it also decided that
they belong to themselves, that they are their own
masters, and are, for once at least, to exercise their
inalienable sovereignty over their own destinies ?
Alas! the Germans came to bring to their Schics-
wig Holstein brethren not peace but a sword. They
bring their jealousies and squabbles, their whole
system of pedantic chicane and feudal confusion to
bear on the question, and will muddle it and befog
it till the luckless people of the Duchies be fain to
accept any compromise, and submit to any denim
sion, out of sheer bewilderment and weariness of
mind.

The first arrangement at which the German
Powers seem to have arrived is the very one that
can best prolong the complications under which the
Schieswig-Holstiners are labouring; they have hit
upon the scheme of a "Provisional Government."
Acow all who are familiar with any of the European
changes that have occurred since the beginning Of
this century are well aware that all the scourges of
war, plague and famine, are nothing for a country
in comparison with a pro-interim rule; it is tanta-
mount to a rapid dissolution of the past, by men free
from all responsibility as to reconstruction for the
future;
it is grounded on an assumption of the neu-
trality of people who have an object to carry, and
pursue it untrammelled by legal bounCs undies
turbed by a sense of duty or a qualm of principle.
A provisional government generally contrives to
achieve what revolution or war st9pped short of.
The Governments of Prussia and Austria dare
not claim the Duchies . as their own by righ
of conquest, neither are they willing that any one
should dispose of them but themselves. Indeed, in

their own mind, the question as to the future
destiny of those provinces is already settled, but
it is for time and the Provisional Government to
work it out. The management of the affairs of the
Duchies is to be entrusted to Commissioners ap-
pointed by the two great German Powers—a Prus-
sian Commissioner and an Austrian Commissiover.
Perhaps the
junta may be a triumvirate, a third
Commissioner being named by the Frankfort Diet.
But even should the Federal principle obtain so
much as that, its representative would still have the
odds cf two to one to contend with, and there is no
doubt but, so long as the two Great Po wars agree,
no will but their own would have the force of law
in the Duchies. Dow it does so happen that PruE'lA
and Austria are at the present moment of one mind
for what concerns the Duchies. A cordial ur.der-
atandiug between those two Powers on any point is
a strange phenomenon, and has been accounted for
either by the dependence of Austrian on PrussiCU
help, in the event of Italian complications, or by thp
forms cf a compact between between Northern
Powers reconstituting the Holy Alliance ; but,
may be the cause, it is a fact not only that Austria
is going hand-in-hand with Prussia in this matter,
but aloo that the former State is willing that the
latter should reap all the bend.; of their common
enterprise.

If a crafty and steady policy have power to ac-
complish anything, it seems certain that Prilsi3
will extend her dominion over the Duchies; it little
matters whether this is done directly by iniinediu:',(3
annexation, or, indirectly, by the creation of a su"'
ordinate and vassal State. I fancy I can see e-"rld
where symptoms of a disposition on the part of the
Frankfort Diet, and of the lesser and least States
of Germany to knock under. Not only are they
unequal to a contest with the combined efforts of
the two Great Powers, but they evijently feel, °llti
all but acknowledge their impotence. The )2(41°6:
ness and dilatoriness of that poor Frankfort Die"
arc in themselves sufficient to give the game into
the hands of any adversary. The minor Courts,
always wriggling and shuffling, are giving iu one by
one ; and Saxony, who
would seem to evince great".
stubbornnees, takes UD such absurd gtoil"s as
to
call down upon her the ridicule of her very' prtisang*
She gravely tackled Austria and Prussia for "se'
cepting Denmark,s cession of Holstein ace Lau":
burg, as by such an accptance they virtually ,dent-
ted on the part of Denmark a right on those Daelii°
which never existed."
As it becomes more and more obvious that 131.59
sia has carte blanche in the Duchies, both on the
part of willing Austria, and on that of relgetsll.
Germany, it tippers also evident that the disTcse.
tion of mind of the Schleswig-Holsteiners has abated
from its former hostility to that designing 13°wehro.
" The Schleswig-Holsteiners," it begins n°w t°
argued, "are committed to no irrevocable coarse*
Prince Frederick of Augustenburg was hailed
Kiel, at Schleswig and Flensburg, as the elect t°l
the
authority people. But in a community, however small,,
anything happens suddenly to shake t
authority of the Government, where," "it is "of
asked, "where is the people? The petty towns
Holstein and Schleswig have never even gooe
through the vain forms of a plebiecite; the revel
districts have made no sign whatever. Whatever
i
e
the merits of Prince Frederick may be, howevher
ready the country might be to pronounce in it
ou ,
favour, he is as yet," reople begin to
rind
" only a mob candidate. His name has been pro:
claimed; deputations have come to him; meetitice
have been held in his interest; but all these ha'',
been mere individual acts, the acts of men with
o
s
call or mission, whom the presence of an armed
force secured from all opposition. The PecPle t
large have had no chance to speak out; it is alica,'
the most worthless wheel in the cart that creakOf
and nothing is easier than to bring a =latitude to
cut its own throat."

-AMERICA.

(REUTER'S EXPRESS.)
NEW YORK, AUG. 10.

The Southern papers announce the appointment
of the Hon. George A. Tre_nholm, as Secretary °f
the Treasury, in the place of the Hon. C. G'
Meminger, resigned. Mr. Trenholm is a native of
Charleston, about 55 years of age, and the senior
partner of the firm of John Fraser and Co., °f
Charleston,
which, with its Liverpool branch--
Fraser, Trenholin, and Co.—has been extensively
engaged in blockade-running enterprises since the
beginning of the war.
A gentleman. long a resident of Mobile, and
familiarly acquainted with the topography of that
port, gives the following particulars of the 'collty
of the late naval victory gained by Admiral Far-
ragut : 3
" Forts Morgan and Gaines are situated about :3
miles from the city of Mobile, and command frelll
opposite sides the entrance to the bay of the sanl°
name. This entrance is about 2 miles wide. Fort
Powell commands another entrance, or rather Liar'
row artificial pass, called Grant's Pass, into the
same bay from the Mississippi Sound. The tras
harbour of Mobile, locally called the anchorage, i 3
a few miles above these forts, under the lea °f
Dauphin Island, and about 25 miles from 1%-iobile'
Only vessels of small draft can come to the wharves
of the city, which is approached by a narrow end
tortuous channel averaging nine feet of water, never
exceeding 11. The most difficult portion of the
channel is at a point called Choctaw Pass, about
five miles distant from the city.
danrger
" it is not believed that the city is in any
of capture from a naval attack. A successfal land
attack would require at least 15,000 men, and
the
approaches in that case would not be from pauPhini
Island bat from Pascagoula. The object of Adraill
Farragut's operations is, therefore, probably—firsrr
to destroy the Confederate fleet in the bay ; and,
secondly, to more effectually close a pert which,
from its large cotton exportations, had recently L;e'''
come of considerable importance to blockade-run-
ners.-
These objects attained, the situatioe
will
not be very dissimilar from that at Charleston'
'-
ad
except that the distances between the outer
inner lines of harbour defences are greater."

MORE ABOUT THE CONFEDERATE CRVISD.u.
FLORIDA.—By intelligence received yesterday at 141°Yd'eP
through the Preston, Captain Wakehara, just arrived at
Liverpool from Bombay, it appears that vessels spoke the
Confederate cruiser Florida on the 25th of July, in. lat. 36,
long. 36, on the look-cut for prizes. The Florida steamed
up alongside the Preston, and having ascertained her
nationality, put a number of letters and late news
destruct o
papers n
board her, the latter containing accounts or the
of the Alabama by the liearsage. Further communica-
tions were about being interchanged, when a vessel bearing
g
the United States flag hove in sight, and the Flord
steamed off in pursuit.
FATAL ACCIDENT.---An accident, terminating ill
loss of life, has just held the population of Salle°
wenches (Ifeute-Savoie) in a state of painful suspense
for
nearly four days. A well sinker named Perier was beil36
let down into an old well nearly sixty feeede.ep, for ten
purpose of efftc.ing some repairs, and had already reached-
within a short distance of the bottom, when a stone at 1 110
side on which he had fur a moment placed his foot, gar:
way and brought with it the whole of the masonry vial;
aboutt
h stoness hfaofaut and obtained,ltivinicnn ]fining the t hfeeae
ntsdiodfafter
ef
and the v • I,,ard
fourteen
Assistanceu m
D hours'
jh
wl wasaerheou
rrp,ertFoe
:P.
cz t
,di.
~v,
owe of the unfortunate man could be r
although closely had net
pressed by the ruins, he
received eathe
any serious injuries, and was able to br ;13,
freely. Two mornings after, the removal of the rubeae reach
was so far advanced that the workers halosTh
to within six feet of the Feder, and some broth
to ll3s°r
him through an elastic tube. The work had, 13°1"ce
OY'
now become more dangerous. Twice the shoring P3T-10 pa
gave way, and the clearing-out of the materials dt )labourers
recommenced. On the evening of the next day then3s at
in the well called out that the unfortunate
13 dw to be
length reached, and at the same time asked for a cor her
let down, in order to draw him to the surface. •Ans'otllce,
moment and he would have been rescued, but the side', tllO
wore gave way, the man again disappearing beneai_efiaii
stones. Three hours later the rubbish had been cleared
i_
aw...y from Perier's head and shoulders, but it !vas no tua:
late, as he had succumbed from suffocation, after ;00131
tag buried for 86 hours,

CITY, TWELVE O'CLOCK:

The easy condition of the Money Market con.
tinues to progress, though without bringing forward
any large number of bills. About one-half per
cent. less than the minimum of the Bank of Eng-
land is the rate at which the mercantile community
can obtain any amount of accommodation on good
Paper, but the supply of this latter commodity is
Scarce, and as a consequence the business transacted
is comparatively small.

There were no bullion operations at the Bank
Yesterday.
The suspension was announced yesterday after.
noon of Messrs. Woodward and Pod more, wholesale
grocers, with liabilities estimated at nearly £40,000,
but a favourable liquidation is expected.

The application list of the imperial Mexican
Railway Company will close on Wednesday next.

Daring the last few days there has ben). rather
More animation in the Foreign and Colonial Pro-
duce Markets. Sugars have been in good demand,
at enhanced rates, while steady prices have been
current for coffee, rice, fruit, and spices. Business
in the tallow market, however, has remained dull,
at about former qaotations for both present and
forward delivery. _ _

At the halt-yearly meeting held to-day of the
Submarine Telegraph Company between Great
Britain and the Continent of Europe. The report
presented for adoption stated that on comparing the
accounts with the corresponding half_year of 1863,
the receipts had increased by £1,737 ls. Hid., and
the expenses were leas by 5631 6s. 44-cl. The revenue
had been charged, as usual, with 10 per cent. on the
gross receipts, equal to £2,388 2s. 6d., for the re-
serve fund, which now amounted t0'.£8,907 2s. 10d.
The result enabled the directors to recommend a
dividend at the rate of 5 per cent. per annum, or of
21 per cent. for the half-year instead of 2 per cent.
for the six mouths ending Stine, 1863.

l'wo O'CLOCK.

At Paris this day, according to Mr. Reuter's
telegram, the French 3 per Cents. were 66t, 35c.

At the opening of the Stock Exchange there was
a resumption of speculative sales for a fall, and the
result was another decline of g in addition to the
per cent. last evening. Within the last hour, how-
ever, some purchases and the knowledge that not-
Vithstanding this continued depreciation there is
nothing at all to call forth so much weakness,
quotations have rallied, and Console are 888, 89 for
money, and at 89k 4 for the account. The New
Threes and Reduced Annuities are 88k 1; Ex•
chequer Bills, 255. to 15s. die.; and India 5 per
Cents., 1031 1041.

Although Foreign Stocks were rather flatter at
the commencement of business, a general improve.
Meet has since taken place, and they are now all
firmer. Turkish 6 per Cents., 1862, are 69; 704 ;
do. Consolides, 504 _a ; Mexican, 281 I ; do. New,
254 26k ; Greek, 23i 4 ; Spanish Passive, 30:- fa
do. Certificates, 126 13; Portuguese, 47i i; and
the Confederate Loan, 78 79.
In the Railway Share Market the dealings have
bean on a very limited scale, and the few bargains
entered into have been at reduced prices. Great
Northern A stock has declined £2, London and
Brighton 155., and Great Western, Lancashire and
Yorkshire, and London, Chatham, and Dover each
bs. Midland, however, have improved ss.
The Foreign and Colonial lines continue very dull
at about previous quotations.
Bank and Miscellaneous Shares are in some in.
stances a shade cheaper. London and Brazilian
have declined to 479 48 ; Merchant Bank to 28i ;
Union of Australia to 521 53 ; Union of London to
52 ; and International Finance to 91 Z.

BRITISH FUNDS—ONE O'CLOCK,
GOTERNMENT FUNDS.
6 per Cent. Consols
Do Account, Aug. 8
-. •a Per Cent. Reduced
_ BBi it a
ii KeNv 3 per Cent. BBl a a
New 21 per Cc,nt. Jan. 1894....
Do 5 per Cent., Jan. 1873 —
Annuities, '3O yrs, expire nth Jan., 1880 —
1)0 for 2 0 yrs, expire sth April, 1885
Do (B.ed Sea Telegraph), Aug. 1908 —
March. June.
Exa.equer Bills, £l,OOO, 3 & 31 per Cent. 23 15
Do £5OO
Do £lOO and £2OO .. l5
Bar.s. England Stk, 5/ per Ct.
Do Account..
INDI&N GOVERNMENT SECURITIES.
India Stock, 101 per Cent., April 1874 —
Do Account
Do 5 per Cent. July, 1670 ....
no Account
Do 4 per Cent., Oct. 1888 —

130 CertitlCates
Do Account —
Do 1 per Cent. (Deferred 3 per Cent.) —
Do 4f pet Cent. —
Do Enlaced Paper, 4 per Cent
Do 5 per Cent., Jan. 1872 +—+
Do 51 per Cent., May, 1879 —
Do 4 per Cent., Aug. 1866
Uo Bonds L 1,060 .
Do under £1,000..
TORZIGN FUNDS—ONE O'CLOCK.
Austrian Bonds, 6 per Cent _
Brazilian 5 per Cent
Do 4i per Cent, 1852-58-60
~., Do 1863 ..
coenos Ayres 6 per Cent —
hilian 6 per Cent. —
Do 41 per Cent
`Colombian 6 per Cent —
Cuba, 6 per Cent.
.. Do 5 per Cent, 1864 —
4Tuador New Consolidated, 1 per Cent —
-o, Provisonal Land Warrant
Danish 3 per Cent., 1825
~. Do 5 per Cent, 1861
+e+gYptian 7 per Cent .. lO2
Do, Second Issue-
Greek 5 per Cent., 1824-5, ex-Coupons —
Do Account
Do Coupons
„Di-, Account ,
u-....
u.atemala 5 per Cent. —
Do 1839 and 1859 ........ —
rftalian 6 per Cent.(Marenimana Railway) 71
lexican 3 per Cent
Do Account
Do 1864 ..
Do French Scrip, Ex. 25f 20c •P.M.
Do 6 per Cent. Anglo-French — die
Ditto Scrip, £23 paid
Polow:ish Imperial 5 per Cent -
lie, Granada
'.Do 2 per Cent.
Do Deferred
Do Land Warrants (Hectares) ..
Do Debentures, 4 por Ct., April 1861 —
Do do Aug., 1866 —
Peruvian 41 per Cent ..
Do 3 per Cent. (Uribarren).. —
Do 41 per Cent., 1862
Ds Account.
Portuguese 3 per Cent., 1853
Do Accor.nt —
Do 3 Pe'... Cent.• 18569 '7I '9, '6O, 62,'3 —
Do A',:count 47i I
Russi'sn 5 per Cent., 1822, £ St —
D o 4} per Cent., 1850 —
.Do 1860 —
Do 3 per Cent 1859
Do 5 per Cent, 1862
Do Anglo-Dutch
Do Scrip, £4O paid
'Bordinion O per Cent
Do Account —
Spanish 3 per Cent
Do Account
Do New Deferred
Do Account
• Do Passive
Do Account
Spanish Cert. of Coup not funded ..
Do ticcount .. 12} 1 3
Sweedsh, 4 per Cent. ..................
Lo Scrip, £6O paid .................. pm
Tarkish 6 per Cent. 1854 ..............
Do Account ..........
'Do 6 per Cent. 1858 ............ ...•
Do Account
Do £lOO Bonds ............
Do 6 per Cent. 1862
Do Account .. 691 701
Do £lOO Bonds —
Do 1863 •
Do Guaranteed, 4 per Cent. —
Venezuela 3 per Ceut. .
Do Account +—+
Do 6 per Cent., 1862
Do Account ....
Do Scrip .£l5 paid
Dividends on the above payable in London
Allstrion, 5 per Cent., Ex. 10 Florins. ......
Do Account —
Belgian 41 per Cent., Ex. 25f —
Dutch 21 per Cent. Ex. 12 (lull 6ll
Do 4 per Cent. dertificates
Italian, 5 per Cent., 1861, Ex. 25 francs —
- Do Account
Drench Routes, 2 per Cent.....
,Peruvian Dollar Bonds, 41 per Ct.Ex 4s.
''' iedmontese, 5 per Cent., Ex. 25f —
TWO O'CLOCK,
Q onsols Money
Do Account