The Sun.
London, England, 1839-12-02 00:00:00

there is a chance to elect his opponent—if not, I
not. It is true, if the Convention to meet at
Harrisburgh, on the 4th of December, should have
sense, tact, and sagacity enough to nominate General
Scott, the whole face of affairs would be changed
against Van Buren, but we have no idea that those
who make politics a trade, will do so sensible an act,
and we doubt whether Providence will take the trouble
to soften the breasts and enlighten the heads of such
rascals, vagabonds, and unholy sinners as politicians are.
At all events, throughout the next year, the fluctua-
tions in trade, currency, and commerce, will increase
in
the non-specie paying States—while in New York, and
in every State that will return to a sound currency, we
may have difficulties to surmount, but those difficulties
will be surmounted and we must flourish.

From Canada the intelligence brought by these
Journals is very favourable ; but apprehensions of
an outbreak during the winter were entertained on
both sides of the frontier. The United States Se-
cretary of War had ordered General SCOTT to
make a tour of the frontier, to arrange measures
for preventing attacks upon the Canadians by tha
‘ sympathizers." Sir
GEORGE ARTHUR
was' loafing fing
organizing a police force on the Niagara fron-
tier to prevent incendiarism in that part of the
country, and his Excellency had ordered the Pro-
vincial Parliament to assemble on the 3d of Decem-
ber, when it was expected that he would either
dissolve it, or propose to the Members the passing
of a Bill for the union of the two provinces. This
would be the signal for the commencement of fierce
commotions in the Upper Province.
But the question at present of the first import-
ance is the state of the Money Market. The fol-
lowing article, containing the latest intelligence, is
from the New York Commercial Intelligencer of
the 16th of November :
NEW YORK MONEY MARKET, &c.—FRIDAY

Nov. 15.

There was a considerably less extensive business done
at the Stock Exchange, this morning, than for some
days before ; and although the prices of several descrip-
tions of Stock sold declined on previous rates, some
advanced on yesterday's prices, North American Trust
and Banking Co., advanced 1 per cent. ; Merchants'
Exchange Co., 2 ; Delaware and Hudson Canal and
Mohawk Railroad, each per cent. ; while Bank of Ken-
tucky shares declined 1 per cent. ; Mechanics' Banking
Association, and Paterson Railroad, each ; and Ohio
Trust Co., 1 per cent. on previous rates. At the
second Board the sales of shares were small and the
closing prices as follows. Delaware and Hudson Canal
60 per cent.: Mohawk railroad, 50 ; Harlem, ditto,
391 ; and North American Trust Co., 39 j., showing
rather a batter feeling than at the morning Board.
There was a slight error in our report of the sales of
State Stocks yesterday. It should have been as fol-
lows :

" Illinois State Bonds—Seventy 6 per cent Illinois
State Bonds, of 1,000 dollars each, redeemable in 1830.
" The Maryland Bonds sold at 58, 59, 60 a 72.
" Of the Illinois, 1,000 dollars were sold at 66, and
the sale then stopped."
The Money Market has not been so easy to-dAy. The
upward tendency in the rates of Exchange on Europe,
and particularly on England, has caused a greater dis-
position on the pare of the Banks and monied men to
contract their loans than for some days before. The
demand for bills, for transmission by the Great Western
to-morrow, has been r,ther extensive—the rates on
England 4.68 dol. to 4.70 dol. (7i- a 81 per cent.) the
pound sterling, and on France 51.4 3fc. a sf. 35c. the
dollar.

The rates of Domestic Exchange range about the
same as yesterday, except for bills on Philadelphi3,
which were sold at the Board this morning at 13k a 131-
per cent. discount.
The Philadelphia North Anzericao of this morning

says :
The rates of money in the street are gradually
declining. Post notes are sold at 1 per cent, a month,
and a large amount of first-rate business paper was
taken to-day at 11 per cent. 1% e quote it at lif a
as the fair market rate. This reduction of rates is gra-
dual, anu is caused by the contraction of business,
which is now becoming more sensibly felt, and not by
any increase of Bank facilities. We may look for this
contraction as certain to be very decidedly felt in a short
time.

.‘ We find the rumour of a speedy resumption on the
part of our Banks to be as we feared, a mere rumour,
at any rate for the present. The cause which was al-
leg-ed to have led immediately to their suspension, viz.
the demand for specie to pay the Eastern debt, still con-
tinues ; and were the Banks now to resume before they
are more fortified by the arrival of remittances or pro-
duce from the West, it would of necessity be merely
nominal, as the deposites in them have increased since
their suspension I,Boo,ooo—nearly all of which are for
eastern account, and are waiting some favourable turn
in the exchanges before being drawn for."
GIRARD BANK.—The report of the Committee ap-
pointed by the Stockholders of this institution to which
we have before alluded,:among other statements has
the following :
" That the losses cannot in any human probability
exceed 400,000 dollars, while the contingent fund alone
is 550,000 dollars, over and above . a sum of 218,273
standing to the credit of profit:and loss."
The following Table is compiled from the Report ;
Dollars.
Original capital I 500,000
Added in March, 1836 3,500,000
Specie on hand....
Post notes issued 2,500,000
Now outstanding 807,000
Dividends declared, from May 1833 to May 1836, both
included, 254 per cent. On the increased capital of
5,000,000 dollars, in November, 1836, 4 per cent. ; in
May, 1837, 4 ; in November, 3 ; in May, 1838, 3 ; in
November, pi ; and in May, 1839, 3i.
Of the issue of post notes the Report says nothing
more than that it has been a source of large profit to the
bank.

We learn from the Providence Journal of yesterday,
"that the banks of that city have entered into an ar-
rangement to receive their own and each others' bills,
in payment of all dues, at the places where payable."
The following are the batiks—Exchange, Union, Manu-
facturers', Globe, Weybosset, Phoenix, Mechanics' and
Manufacturers', High-street, Mechanics' and National ;
the two latter on condition that the arrangement is ac-
ceded to by a majority of the banks. There are
twenty-one banks in the city, one more therefore is re-
quired to make a majority. There is no doubt that
several other banks will come into the arrangement.
The Blackstone Canal Bank has passed a resolution
similar to that passed by the American Bank—to receive
its own bills at its ova n counter for all dues wherever
payable.
The rate of discount on Providence bills hasldeclined
considerably on New York, and if z. 1.1 our banks enter
into this arrangement, they will soon be nearly or quite
a: par. The rate of discount on Providence bills is
also lower in Boston tb an it has been.
The Alexandria (D.C.) Gazette of the 14th inst.
says :
Heretofore bills at 30 to 60 days on New York,
could without difficulty, be. cashed by deductinc, the in-
terest. Now, a draft at sight will command ten per
cent. premium, while one at 30 days not more than one
per cent., if any, premium. This has effectually put a
stop to coastwise shipments for the present.
The Bank of Pensacola has suspended specie pay-
ments.

SALES AT THE STOCK EXCHANGE, Nov. 13.
Dollars.
3,000 Corporation Bonds 7 per Cents 93
12 shares Manhattan Bank ll4
25 do Dry Dock Bank 62
40 do Mechanics' Banking Association
25 do American Exchange Bank s 3ds 71i
40 do North American Trust and Banking Co. 39
125 do do do
50 do do do 391
nwk 39
125 do do do.
50 do do do
100 do do do
10 do United States Bank .............. ....:33. 37,8)
150 do do do
69i
50 do do do
100 do do do ...s 30 ds 68
100 do do do
25 do Bank of Kentucky
10 do do do ........................... ......... 651
75 do do do .................................... 651
20 do Morris Canal Company ..................... 2tl
25 do do do .................................... 21
85 do Delaware and Hudson Canal
160 do do do. s3ods 60
40 do do do .................................... 59
20 do do do
),30 do do do
.60 do do do Monday 50
59
10 do. Ohio Trust Company.••
40 do do do
475 do Harlem Railroad
80 do do do
100 do do do alo ds 38i
130 do do do 99
50 do do do ...... ..... nwk 38i-
.

25 do Utica and Schenectady Railroad
60 do Canton Company
50 do Mohawk Railroad b3o 50
20 do do do b 3 ds 50
75 do. Stonington Railroad l4
15. do. Merchants' Exchange Co
COTTON MARKET Nor. 13.—The demand continues
quite-
pricol6
steady, without any further material alteration in
PLOUR—Dealers in Western are very firm in de-
man4ing 6 25 per bbl., but the sales to day were not
extensive ; other kinds much as previously noticed.
WHEAT AND CORN.—As before stated.
SALE OF STOCKS AT PHILADELPHIA, N0v.15.
185 50.100 State s's, 1859
..
1044 26. 100 Do. do. 1856
630 Wilmington Loan
91