The Sun.
London, England, 1839-07-05 00:00:00

THE FUNDS.

The serious affair _which took place at Birmingham
between the Chartists and the police, which at length was
put down by the timely arrival of some Cavalry, as well
as the Bank Directors coming yesterday to a determina-
tion not to augment their discounts at present more than
4 per cent., has not had, to the present hour, any effect
on the Bri;ish Funds.

Both the public and speculators in the Funds are very
anxious to ascertain . the contents of the Budget,
which, to the present time, still remain a secret in the
City. Consequently no operations of any importance are
doing in either of the markets.
By the Atalanta, arrived at Suez, overland despatches
have been received from India of the following dates:—
Bombay, May 20, Madras, May 9, and Calcutta, May 8.
Consols, which closed at 932.1 for the opening, opened
at the above quotation, since which they ma be quoted
93} ; Reduced, 92i ; Exchequer Bills, 25y27 ; India
Bonds, 28 30; Bank Stock, 191 192; India Stock, 255
257.

In the Foreign Market the prices as yet are nominal,
and may be quoted as they left off. Spanish Active, 19-1-;
Portuguese, 341; Three per Cents., 201 21 ; Brazilian 77k;
Colombian, 331 i ; Mexican, 26f ; Belk ian, 102-1 ; Dutch
Two.and-a. Half per Cents., 541 i ; Five per Cents.,
1021 103.
PRICES OF STOCKS THIS
P.ank Stock 192 1
3 per Cent. Red.
3 per Cent. Cons. —
3 ;.2 per Cent ‘l97,i
Ditto Red.
New 314 per Cent
New 5 per Cent.
Bank Long Annuities toexpire
Jan. 5, 1860 144 '7-16
Oct. 10, 1850 —
Jan. 5, 1860 —
Jan. 5, 1880 —
April 5, 1880
Jan. 5. 1870 -

DAY AT ONE O'CLOCK.
India Stock
Ditto Bonds 3O pm.
South Sea Stock --
Old Annuities 9l
New Ditto --
8 per Cent. Annuities, 1751 --
DExitctoh
..
....................
....xl.. .
.....
.22n5
.2211 m.
Pm.
Ditto Small 27 '29 pm.
Ditto Commercial — I:'ni
Ditto Advertised
Bank Stock for Account ... --
India Stock for Account ... --
Consos for Account 94i
- -- -

PRICES OF FOREIGN FUNDS
Austrian Bonds
Belgian Bonds
Ditto Account
Brazilian Bonds
Ditto Account 7B 4 jy
Buenos Ayres. Bonds
Ditto Account
Chilian Bonds
D tto Account
Columbian Bonds
Ditto Account
Columbian Bonds, 1824.
Ditto Account
Danish Bonds
.„ ;4,4

TIES DA.I AT ONL O'CLOCK
Peruvian Bond, —
I Ditto Account —
Portuguese Bons
Ditto New Bonds —
Ditto Account 34%
Ditto, 3 per Cent.
Ditto Account
Prussian Bonds
Russian Bonds, 182'2 —
Ditto Account .--
Ditto Metallic
Spanish Bonds —
Ditto Account.
Passive

Ditto Account
Greek Bonds

Def,rre.l Bl,
French, 5 per cent...—. —f. —c.

Ditti Bonds, 18'23
Ditto Account
Mexican Bonds, 5 per Cent
Ditto Account .........

4 per cent. ......
3 per cent. —t —c.
Exchange. —f. —e.
Dutch, 4yE, per cent. 54%

Ditto, 6 per Cent

Ditto ACCount.

. -
Ditto Account
Neapolitan

Ditto, 5 per cent lO3
Ditto Account —

PRICES OF SHARES THIS DAY AT ONE O'CLOCK.
Paid. Per Share.
Brighton Railway
HALF-PAST ONE.

No information has as yet transpired respecting the in-
telligence received from India by a special messenger, and
the papers and letters are not expected until Monday; but
it appears that the Calcutta Gazette has been received at
Paris, stating that an extensive conspiracy against the
English had been discovered by a Magistrate at Madras,
and that the Shah of Persia and Maun Singh were at the
head of the plot; also that :Shah had marched against
Herat with 40,000 men, after detaching a corps of 5,000
men to Bushire.
Consols,
According to the above information, which is not of a
favourable nature, we should not be surprised to Lear that
Con-
sols at presewnhtio63l7 93i, are not quite
Bills 25 27 ; India Bonds 30 pram;
our army in India is marching on Caboul.
so good, owing to some Reduced having been sold. Con-
Bank Stock rather
in demand. Exchequer
lower, 192 191. eremionnetyhei: morning
In the Foreign Market little doing. Spanish Active
191 ; Portuguese rather better, 344; Brazilian 781 i, also
better ; Colombian 33i; Danish 751; Dutch Two-and-a.
Half per Cents. 541; Five per Cents. 103.
We are glad to find that the Cotton Market at Liverpool
continues drooping, and the extinguisher will soon be put
•n the monopoly.

TWO O'CLOCK.
This moment a report prevails that Colonel Sale's
Brigade has had some fighting in India, particulars not
known.
A meeting of the Chilian Bondholders was held this
morning, at which Senor Rosai.es laid a plan before the
meeting, recognizing that the whole of the debt be paid off
at extended periods.

A DRUNKEN MOTHER On Monday night,
about eleven o'clock, as a man named Henry, in the service
of the Earl of Hawarden, was proceeding along Castle.
street East, Oxford-street, he found an infant, not many
weeks old, wrapped up in fknnel, and lying on the step
of the door, No. 37. It was taken to the workhouse, and
upon inquiry it was ascertained yesterday (Thursday) that
the mother's name was Swainsling, and that she lived in
Star-street, Paddington. It appears that she was much in-
toxicated on the night of Monday, and having laid down
the infant upon the step and gone home, bad quite forgot-
ten where she had left it.
The Glasgow Chronicle says, " The London
mail, since the recent change, has been very irregular.
To-day (Wednesday) it did not arrive till half-past three."

LADY FLORA HASTINGS,

We regret to state that Lady FLORA HASTINGS
died at two o'clock this morning..

UNIFORM PENNY POSTAGE.

FACTS AND ESTIMATES AS TO THE INCREASE OF LETTERS.
The only point connected with a uniform penny postage
on which there appears to be any material difference of
opinion is, as to whether or not the revenue will suffer by
the proposed reduction.

The plan will stimulate the increase of letters in two
ways—first, by the increased facilities of despatch of
letters ; second, by the reduction of postage.

INCREASED FACILITIES.

Many facts were proved in evidence before the Postage
Committee, which renders it clear that even at the same
or higher rates of postage, increasing the opportunities of
despatching letters and the rapidity with which they are
transmitted and delivered always increases the number sent.
I. Palmer's adoption of mail-coaches, though accom-
panied with repeated advances of postage, increased the
number of letters threefold in 20 years. And
2. The new facilities of transmission afforded by the
Manchester and Liverpool Railway increased the number
of letters between the termini nearly 50 per cent. in six
years, postage remaining the same.
3. Although not substantiated before the Postage Com-
mittee, it is understood that the recent establishment of a
morning mail from London to Brighton has produced a
similar effect.

4. It appears from the valuable work of M. Piron, Sous
Derecteur des Pontes aux Leitres, that a reduction in the
time of transmission from Paris to Marseilles, from 118 to
68 hours, has doubled the number of letters.

REDUCTION OF POSTAGE.

This is relied upon as by far the most efficient cause of
increase in the number of letters.

It has been found that the decrease of price in any ar-
ticle of general demand, so far from lessening the amount
of the public expenditure on such article, has always in-
creased it.

" 1. The price of soap, for instance, has recently fallen
by about one-eighth ; the consumption in the same time
has increased by one-third. Tea, again, the price of which,
since the opening of the China trade, has fallen about one-
sixth, has increased in consumptir,n by almost a half. The
consumption of silk goods, whie'h subsequently to the year
1823 have fallen in price by a',out one-filth, has more than
doubled. The consumption of coffee, the price of which,
subsequently to 1823, has frilen about one-foulth, has more
than tripled. And the 'consumption of cotton goods, the
price of which, during the last 20 years, has fallen by
nearly one-half, has is'. the same time been fourfolded."—
Po st- Office Reform, page 70.
2. The sale of newspapers for the 12 months before the
late reduction ie stamps was " 35,576 056* at an average
price, say 7d., costing the public 1,037,6341."
For the 12 months subsequent to the reduction, it was
53,496,207,* at an average price, say of 44d., costing the
public 1,058,779/.
3. The annual number of advertisements before the late
reduction in the advertisement duty was " 1,010,0004 at
an average price, say of 65., costing the public 303,0001."
It is now " 1,670,0001., at an average price, say 45.,
costing the public 334,0001."
4. The number of persons paying for admission to the
Tower was, is the 10 months prior to the late reduction,
" 9,505, at 3s. each (including the warder's fee) = 1,426/."
In the 10 months subsequent to the reduction it was
"37,431, at ls. each, 1,871/."
The rule established by these facts—viz., that the de-
mand for the article increases in a greater proportion than
the price decreases, so that if 1,000 are sold at Is., many
mole than 2,000 would be sold at 6d., is, it is believed,
without exception. Certainly the article of postage does
not furnish one.

" The reduction of the Irish postage. rates which was
made in 1827 was immediately followed by a considerable
increase in the Irish Post-office revenue, though precisely
to what extent it would be difficult to state, owing to a
transfer that was made at the same time of certain receipts
from the English to the Irish Post•office revenue. An
alteration was made in the year 1831, which was equivalent
to a partial reduction, by exempting the correspondence of
a portion of the metropolis, which had paid the General.
post rate, from paying an additional twopenny-post rate.
Consequent on this reduction, though at first attended
with some logs, the Post-office revenue was improved to the
amount of 10,0001, a-year, instead of there being a loss of
20,000/. a year, as had been expected by the Post-office.
A reduction made in 1835 on the rates of ship letters has
been followed by a considerable increase in that branch of
the revenue."S— Third Report of the Select Committee on
Postage, page 29.

PRACTICAL. EFFECT OF REDUCTION TO ONE PENNY.

The postage of letters between Edinburgh and the adja-
cent towns and villages was, in 1837, reduced from 2d. to
Id. In rather more than a year the letters had more than
doubled, and were on the increase when the last returns
were made.§
Postage betwean Stroud and Nailsworth, in Gloucester-
shire was recently reduced from 4d. to Id. The number
of letters has already increased about sixfold.

FUTURE GROSS REVENUE OF THE POST-OFFICE.
There seems, then, no rational ground of fear that the
gross revenue of the Post-office will be diminished.
On the contrary, its increase might be safely predicted,
even if no other change was contemplated than the
proposed reduction. But taking the proposed addi-
tional facilities for, the despatch of letters into ac-
count, the increase of the gross revenue may, at no dis-
tant period, be fairly expected to be considerable. Many
persons competent to form a seund opinion, think such in-
crease will be very large.

FUTURE EXPENSES OF THE POST-OFFICE.

The proposed changes will operate partly to increase,
aud partly to decrease, the cost of the Post-office.
Tile increase will arise out of the additional number M
letters passing through the post.

The decrease, chiefly from the postage being paid in
advanco by means of stamps.
The balance will probably be a comparatively slight
aumentation of expense, which it is confidently expected
will be more than compensated by the increase in the
customs, excise, &c., produced by the stimulus to com-
merce consequent on the cheapness of postage.
There is, then, no just reason for believing that the pro-
posed reduction in postage will at all diminish the revenue
of the country.
Below I have drawn out an estimate of the course which
things may probably take after the proposed change, on
the supposition of the gross revenue remaining the same as
at present. I have perhaps undervalued some sources of
increase, and overestimated others. Ido not place much
reliance on the details, but I have great confidence that the
general result will hereafter be found below the truth.
ESTIMATE of THE MODE IN WHICH 'me REQUIRED IN-
CREASE OF GENERAL POST LETTERS MAY EE PRESUMED
ARE PLACE.
Present number of chargeable General Post let-
ters, call this
Contraband letters, and evasions by writing in news-
papers, &c. (estimated by many at double the
posted letters, but considered it equal only)

2.2
ic:-;
O -
;

Total of letters now written
Assume the rate of increase to be only 2to 1 2

Estimated return General Post letters, from the pre-
sent letter-writing class
Invoices—( Estimated by Mr. Cobden, and other mer-
cantile men, as equal to the present Post letters—say
half only)
Additional printed circulars, catalogues, small parcels,
&c. say
Letters from numerous classes who may now be said not
to use the Post-office at all, say

3

Required increase of General Post letters to sustain the
gloss reve,,ue (vide Third Report, p. 55.)
That is to say, an addition of live-fold.
Bayswater, July 1. ROWLAND HILL.

4 No. 307, Session 1838.
t No. 184, Session 1839.
/ The increase has been from 84,0001. to 116,000/. per an,
num.—Vide " First Report on Postage," page 472.
Third Report, Abstract, page 24.

LLOYD'S SHIPPING-(THIS DAY)

DEAL, JULY 4.—Wind E.N. E. ,moderate.—Sailed the
General Palmer, Elliott, for Bombay; Richard Brown,
Dunlop, Bermuda; Esther, Banas, Quebec; Black
Nymph, Wilson, Africa.
PORTSMOUTH, JULY 4.—Wind S. S. E.
PLYMOUTH, JULY 3.—Wind variable. Arrived the
Charlotte, from Memel.

FALMOUTH, JULY 3. —Wind variable and light.—Off
port, the Anna Maria, Steinmouth. from Surinam.
LivEßPoor„ JULY 4.—Wind N. IV., light airs.—Arrived
the Flora, Blair, from Bombay ; Lenwiek, St. John's.
New Brunswick ; Margaret Forbes, King, Natchez.
Sailed the Seloryd, Saunders, for Vera Cruz - Mary,
Gardner, China; Azhap, Toole, Sylvia, Willis, and
Emerald, Ellis, Quebec; Talleyrand, Webb, Boston ;
Harriet and Jessie, M'Kown, Charleston; Ann Paley,
Williams, Genoa ; Christian, Gardner, Oporto.

THE MARKETS.-(THIS DAY.)

CORN EXCHANGE.

This week's supply of English Grain has been small, but a
great many foreign vessels have arrived with Wheat, Barley,
and Oats. The sale of every article has been slack, hut the
factors will not submit to lower prices. Fresh made Flour is
in demand, other sorts met very few buyers.
ARRIVALS.
Barley. I Oats. Flour.
180 qrs. 2,32.0 qra. I :1,910 .acks
4,490
19,930

Wheat.
English
Irish ......
Foreign
SMITHFIELD.

- brls,

A short supply, and a lively trade. Beef declined a little,
but Veal advanced 4d. per stone; Mutton, Lamb, and Pork as
last quoted. Beef, 3s. 4d. to 4s. 6d. ; Mutton, 4s. to 4s. Bd, ;
Veal, 4s. 4d. to ss. 4d. ; Lamb, ss. 4d. to 6s. ; Pork, 4s. to ss.
Beasts, 394; Slyep and Lambs, 9.780; Pigs, 510 ; Calves, 437.
BILLINGSGATE MARKET.
Supply good, trade dull, and prices as last quoted; Turbot,
4s. ad. to 15s. ; Good Salmon, Is. 3d. to Is. 6d. per lb. ;
Soles, 9d. to 3s. 6d. per pair; Mackerel, sd. to 10d. ; Lob-
sters, 6d. to 2s. 6d. and 3s. ; Haddocks, 6d. to Is. ; and
Whiting, 3d. to 6d.

BRIGHTON, THURSDAY, SIX. O'CLOCK, p.'.
—The British Queen steam ship has made the passage
from Liverpool to this place in 51 hours, making an average
SI oed of eleven miles and a half per hour.
SHOCKING ACCIDENT.—On Thursday morn-
ing, between eight and nine o'clock, Thomas Anthony,
aged 13 years, the son of a gentleman residing at No. 25,
Euston-square, was crossing the Hampstead-road, near
St. James's Chapel, when he was knocked down by a
horse and cart, the wheel of which passed over his chest,
forcing several cf his ribs into the cavity of the chest. He
was conveyed in a dreadful state of suffering to the Uni-
versity College HosFitil, and is not expected to survive.
THE NEWCASTLE MURDER..—The trial of
Archibald Bolam, for the murder of Joseph Millie, is ex-
pected to take place at Newcastle, in the County Court,
on the 30th or 31t of July. He will be defended by Mr.
Dundas and Sir Gregory Lewin.

DISTURBANCE AT BIRMINGHAM.

(nom OUR OWN CORRESPONDENT.)
Birmingham, Thursday Night.
At al out a quarter-past nine I was in the neighbour.
hood of the Bull.ring, when a cry was made that the
people assernbl.d by Nelson's Monument were attacked by
the police. The scene at that tine was past description.
Sixty of the A division of the London police, under the
superintendence of Inspectors Martin and Partridge,
arrived by the eight o'clock train. At nine o'clock they
arrived in omnibuses at the public office, Moor-street,
which is situated within fifty yards of the Bull-ring. At
that time there were not less than 1,000 persons around
the Monument in the Bull-ring. The police, in divisions
of about 14, made an attempt to disperse the people. The
scene was beyond description. The people in the first in-
stance retreated, then attacked the police; when a man
who was seized was soon rescued. This went on for about
fifteen minutes; when about eight divisions of the 4th
Royal Irish Dragoon Guards, headed by the Mayor, and
Dr. Booth, Magistrate, arrived. They were placed in
divisions at the end of Moor-street, the Bull-ring, Speecal-
street, Ball-street, Philip-street, and the High Town.
Shortly afterwards about six divisions of the Riflemen
arrived to support the Dragoons.
I have only time to say that about twelve men are in
' custody, several of them injured, one with a cutlass in his
possession. A policeman is in the hospital, wounded in the
head, several others slightly, one stabbed in the abdomen,
and another in the thigh. All at this moment quiet.

(From the Times.)
This evening the Bull-ring meetings of the Chartists
have been brought to a crisis. At eight o'clock this
night, the usual hour of meeting, there was a large as-
semblage of the people, accompanied by banners, &e.
To the great surprise, however, of the mob, about a
quarter-past eight, a party of the London police arrived,
and immediately proceeded to arrest the leaders and dis-
perse the meeting. The metropolitan police were sent
down by the Home-office, and arrived only a few minutes
before they attempted the dispersion of the Chartist mul-
titude. It is impossible in a few lines to describe the con-
fusion which ensued after the attack of the police. The
mob resisted, and, although the London police were well
organised, and most determined in their efforts, the number
of the Chartists to whom they were opposed, and their
evident preparation to meet any attack, led to the tempo-
rary defeat of the police. For about ten minutes the fight
was fearful, and, I am sorry to add, it is feared that in
more than one instance the consequence will prove fatal.
The police were driven back into Moor- street, and, for a
short time, it was apprehended that the mob would suc-
ceed in an assault upon the prison. Fortunately, the 4th
Royal Irish Dragoons, headed by Colonel Chatterton,
and accompanied by Mr. Scholefield, the Mayor, arrived
in time to afford protection to the civil authorities, and, as
I am informed by a bystander, a gentleman of influence in
the town, saved the Public-office from popular fury.
The 4th Irish Dragoons, together with the Rifle Bri-
gade, immediately encompassed the Bull-ring, and stopped
every avenue leading to it. The mob upon their appear-
ance took to flight in al! directions, and at the time I write
the town is in a state of great excitement. _ .

Several of the London police are seriously injured, and it
is feared that one inspector is fatally wounded by a stab in
the side. A magistrate in expectation of his death, is now
taking his deposition. Five of the police have been con-
veyed to the public-office, some of whom are unquestion-
ably seriously injured.
After all, I believe that the proceedings of to-night will
have a most beneficial effect. Few, if any, of the repu-
table workmen of the town are conneted with the Char-
tists. The military occupy the principal streets, and, lam
of opinion, to morrow will see a restoration of comparative
quiet. _ _

The Mayor, Mr. Chance, and other Magistrates, are in
attendance, and will remain at the Public-office during the
night.

COWES, ISLE OF WIGHT.

(FROM OUR OWN CORRESPONDENT.)
ROYAL YACHT SQUADRON INTE..,LIGENCE.
The next General Meeting of the Members of the
Royal Yacht Squadron will take place at the Squadron
House, on Friday the 12th inst.
The Secretary has sold Col. John Hall's cutter Yacht,
Owen Glendwr, of 113 tons, to Earl Desart; Sir Arch.
Murray, Bart.'s schooner yacht, Peri, of 59 tons, to Capt.
Bulkeley, and the Rev. Denis George's cutter yacht
Wave, to Capt. James Kean, R. N.
Mr. A. Hill's new schooner yacht Ariel, of 118 tons is
nearly ready for sea.