The Sun.
London, England, 1837-09-29 00:00:00

PRICES OF FOREIGN I. UNDb
A ste,an hog,

Belgian Bone.; ...
Ditto Account
BraJl-flan Bondi
Ditto Account .
Buenos Ayres Bonds
Ditto Account
:hillian
Ditto Account
:olurobian Bonds
Ditto Account
C Aumbian Bends. :8'24. 6% %
Ditto Account
Dolls!) Bonds ...
Ditto Account
Greek.
....
Intto Bonds, 1,3•2.5
Ditto Account
Mexicar. Bonis. 5 per cent.
Ditto Account
Ditto, 6 per cent. ..—. :10 31i
Ditto Account ....... 311 i
.... —1

103%

PRICES OF SHARES THIS DAY AT ONE O'CLOCK
P2;.1.• Per Shar e
R ,a 1 del Mont. Mining Co., Regis kred 63/. lOs. 6d.
Ditto Unregiytered —
Great v%estern Rail Way Company 55
Lontton and Birmingham Railway Company 9e
Ditto U Shares
London and Southampton (New) Railway
London and Croydon Railway Company 2O
Ditto Scrip
Rri•Lth North Americ n Bank
Provincial B ink of Ireland

63►4%
145 ti
20%

1,4
40 '4

MAILS.
Arrived, Due Arrived. Due. Arrived Du
0 Arnerica.......... 0 1 Franee........«.. 01 0 Lisbon 1
0 1trazi1........... 0 0 Guern. &Jersey 0 .. AN..
0 13,Iebos Ayres.. 0 0 Hamburg 0 0 M..-alco 0
0C; trthagena...... 0 0 Hull:0W ......«.. 0 0 Ostervl.. .......
I Dibliii... ...... 0 0 Jamaica
I Fiandera......... 0 ii Leeward Islands 0 0 NVaterford I

MOH WATER AT LONDON .BITIDOE 'lO-MORROW.
g0rning.........V minutes after 2, f ilitinutes after 2

NEW WORK BY THE AUTHOR OF "RATTLIN THE

REEFER." -
In 3 vols. pest Svo.
TH E OLD COMMODORE
By the Author of " Rattlin the Reefer," &c.
IS NOW READY.
Richard Bentky, New Burlington- street.

NOW READY,
In 3 vols. post Bvo.,
MISS LANDON'S NEW NOVEL
ETHEL CHURCHILL;
Or, THE TWO BRIDES.
A STORY of the REIGN of GEORGE IL
Henry Colburn, Publisher, 13, Great Marlborough•street.
To be had of all BooksAlers.

Now ready, in 2 vols. Svo., with Portrait,
TAIFE OF SIR EDWARD COKE.
Lord Chief Justine in the Reim.' of James I.
With MEMOIRS of HIS CONTEMPORARIES.
By C. W. JOHNSON, Esq., Barrister-at-Law.
Henry Colburn, Publisher, 13, Great Afarlborouth-street.

ERRATUM.—In our late impression on Tuesday evening,
the names of " Messrs. Skelton and Wells" were in-
serted among the " Certificates' instead of the
Dissolution of Partnerships,' which oversight was
rectified in next day's paper.

- -
The publication of THE St'N NEWSPAPER commenced this day
at 20 minutes past Three o' Clock.

-
/ ‘.l

I
~ , J
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Zhe 111.

LONDON :
FRIDAY EVENING. SEPTEMBER 29, 1837.

In another part of The Sun will be found the
Message of President VAN BUREN to the_ Congress
of the United States. As the Congress was as-
sembled in consequence of th• unprecedented pecuniary
embarrassments in which the States were involved, it
was natural to expect that monetary affairs would oc-
cupy a prominent place in the Address of the PRESI-
DENT. There is in fact no other subject treated of. M.
VAN BUREN begins his discourse by an attempt to trace
he commercial disaster which lately befel his country to
This, he hesitates not to affirm, was an ex-
cessive issue of paper currency, stimulating speculation
to an extravagant height. The banking capital of the

is stairce.

United States, which in the beginning of 1834
amounted to 200 millions of dollars, had on the
Ist of January, 1836, increased to 251 millions ; the

bank-notes in circulation, from 95 millions to upwards
of 140 millions ; and the loans and discounts of the
banks from 324 millions to 457 millions. T. this in-
crease are to be added many millions of credit acquired
by foreign loans and accommodations from foreign mer-
chants. Upon these data the PRESIDENT founds what
may be called his theory of the American crisis.
" The consequences," observes he, " of this redun-
dancy of credit, and of the spirit of reckless specula-
t. on engendered by it, were a foreign debt contracted

by our citizens, estimated in March last at more than
30,000,000 dollars ; the extension to traders in the
interior of our country of credits for supplieg, greatly
beyond the wants of the people ; the investment of
39,500,000 dollars in unproductive public lands,
in tl►e years 1835 and 1836, whilst in the preced•

1g year the sales amounted to only 4,500,000 dollars

the creation of debts to an almost countless amount,
for real estwe in existing or anticipated cities
and villages, equally unproductive, and at prices now
seen to have been greatly disproportionate to their real
value ; the expenditure of immense sums in improve-
ments, which, in many cases, have been found to be
ruinously improvident ; the diversion to other pursuits
of much of the labour that should have been ap-
plied to agriculture; thereby contributing to the expert-
diture of large stuns in the importation of grain from
Europe—an expenditure which, amounting in 1834 to
about 250,000 dollars was in the first two quarters of the
present year increased to more than 2,000,000 ds.; and
finally, without enumerating other injurious results,
the rapid growth among all classes, and especially in
ourgreat commercial towns, of luxurious habits, fouUded
too often on merely fancied wealth, and detrimental alike
to the industry, the resources and the morals of our
people." To these causes the PRESIDENT adds another
which had, we believe, never, in this country at least,
been considered in so -serious and important a light—
namely, the losses sustained in the fire that took place
in New York in 1835.

On a cursory perusal of the Message—for we have
not yet been able to read it with the attention which
it deserves—there appears to us to run through the
whole document a desire to magnify the dangers of a
paper currency, aLd to exalt the benefits of a metallic
one. This was perhaps to be expected from Mr.
VAN BultEN's known sentiments on the subject;
and from the hints thrown out in more than one
part of the present Address, there can be no doubt
that it is the intention of the PRESIDENT to fol-
low up the financial policy of his predecessor.
It remains to be seen whether the Conress will
not interpose its authority to prevent the adoption
of measures to which many persons, both in America
and England, are disposed to attribute a considerable
effect in producing the commercial calamity with which
both countries have so lately been visited.

We have just received horn our intelligent Contem-
porary, the West Briton, a report of a Reform dinner
given on Monday last, at Truro, by his constituents,
to Mr. TURNER, the Liberal Member for that
borough. At this dinner the Hon. Gentleman took
the uppc.ounity of stating that he had been designated
a Tors, and ranked among Ow mitAor of tho4e
would support the interests of the faction in Parliar
mrnt, Now this, he said, was a most unfounded