The Sun.
London, England, 1839-10-14 00:00:00

ADMIRAL FLEMING.

(From the Hampshire Telegraph)
If anything were wanting to convince the world of
tne propriety of the appointment of Admiral Fleming to
the Governorship of Greenwich Hospital, it: would he
found in the vio'ent abuse of Lint in the Tory press.
Their censure of this appointment springs entirely from
rancorous party spirit ; and if arty well-grounded ob-
jections could be taken to it, which is impoi,bible, trey
come with a very bad grace from the 'cc rics, ender
whose administration, it is weil known, a' corret of
dragoons was presented at Court, booted
,und„spurred,
and attired in the uniform of his regitnen., rts4triiord of
the Admiralty ! With respect to Arlrairaf tletti,og's
claims, and his not having taken r.4ret'ih a "Qeguiar
battle, for which only medals were gig-en, and forforkioh
en!y K.C.B. should ever have beer. Iretojsirceed,iishilid
not command a line-of brittle ship Sin 1807,itnd Faspro-
moted to his fl-,g in 1813 ; and in the ititerViaiiiii'eneral
action took place. Before this peri ,(1.11,4na Captain
of clae Egyptienne, and during his Isbiiesic q‘,4lky,Pshe
took a frigate. His absence wins a mortification to
hint, but 'could he help it ? As tir! his 1-A4 a
fortunate youth look at Sir Geol.g, Cirekburn, the late
Sir Henry Hotham, &e., in '*vligst' fffinP3UY !•itt!' Was at
the time, and who certainly partielpated.ia Lorry
corruption of that day. Adiniriti :.etl. ry more
titan this gallant officer—im one in the hee7. stands
hieher as en officer and rt searnan—Lto
one ig al fire re-
spected than he is. The only reg•ct
.0
is,.:feat :he his
thtislied his active earecr too wait, n_nd tliai, tan; his
• pr..•opinion is lost to the proles slob. and
.
country at the moment when offiee of Lis rank
soonba wanted to comma•A at B ttisit fleet, on a
ctntinu v.licrs tile utmost ete.:g y itud alent may be re-
gitired. To r:ffirm that th; ofliee or Governor of
Greenwich Hospital has always beers flied by officers
who hive seen eni,eigenu nts is untrue, for the eppoint-
meat was held by Sir John Coipoys, who was aver in
a geocral eng .gesuent, The object of this Tory out-
cry agsiest the appointment of Atimi.-al Fir:rejig is well
understood. A country eenJeanui, duly estiamting
Tory truth and candour, assures u:. his conviction of
the correctness of the appointment rests solely on the
fact, that all the Tory press are vehement in their
abase of it !

Young Betts., performed . Hamlet to an elegant
audience at. i'eterborou;li on Tuesday last. :Ind at the
conclusion of the performance, the speet.eors in the
box.?.s and Fit rose Eirnultancously, and honoured him
with three distinct rounds oflipplause.

H gives us sincere peeasure to be
able to state that Mr. Hutt, M.P., is now reec‘ered,
t ith the exot:ptino of weakness, froth hi* late severe
indtspos;tlon.—Hail Advertiser.
The agricuitural mei.ungs held since our last,
"Ana reported in this paper, are those of the Lunesdale,
Kirkby Lonsd,de, Burtou-in-Kencial, snci Lancaster
A4ricultural Associations. At ear:h of which Ke have
observid with pleasure, it desire to diver th.„puebe,
from the usual coannel of complirneuttry to the
mention of Eubjce.s of praerie.Al intermit,, -ivncasler
tglordian.

A new Church at Horsley, near Cheltcnhatn,
wilt be consecr:lted by the Lo;t1 Eisho ? of Gloucester
on, 'Thursday next.

EVENING EDITION

MONEY MARKET and CITY NEW 5.

CHRONICLE.—The English Stock Market has
to-day (Saturday) fully supported the prices of yes-
terday, although the transactions have not been large,
and the rate of interest, from account to account, con-
tinues at from sto 6 per cent. Indeed, it would not
have been reasonable to look for any material alteration
for the better in the value of money until the quar-
terly dividends are in course of payment.
According to the Jamaica Gazette the prospects of
the crops were unfavourable, and an account is given
of the produce of sugar and rum in the parish of Saint
Mary's, containing 55 estates, for the last four years,
showing a regular decrease each year on the crops of
the preceding year, and a total decrease in the three
years, from 1835 to the end of 1838, of 2,772 hogs-
heads of sugar, 950 puncheons of rum, and 68 pun-
cheons of molasses. At Barbadoes they complained
much of dry weather, and scorching heat of the sun.
The canes had suffered severely, and they feared injury
to the corn crops from the ravages of the worm.
The Guiana Chronicle says that the shipments of
sugar for the first six months of 1839 from that colony
are less than that shipped for the first six months of
1838 by 10,533 hhds. The lialifax Journal mentions
a severe gale of wind having done much damage to ship-
ping in that quarter. Its effects appear to have been
general, and great injury had been done to the crops in
Prince Edward Island.

The final arrangement made by Mr. Jaudon gives
him the command of 800,0001. now placed for his dis-
posal for the relief of the engagements for the London
agency of the Bank of the United States. The loan is
taken, and is to be advanced upon the issue of bonds
bearing interest at six per cent. for eighteen and thirty
months, to be secured by a deposit of Pennsylvania
stock to the required amount in the hands of trustees

POST.—The satisfactory arrangement to which the
moneyed interest have at length come with the agent
of the United States Bank, Mr. Jaudon, has led to
some further improvement in the value of the public
securities ; but the more favourable appearance of the
Continental exchanges on Friday has no doubt had its
influence on the markets. The settlement of the , Ac-
count for the foreign house is fixed for Thursday' next,
and it was the opinion of some persons abotat the
Stock Exchange that the rise in that department,
which was pretty general, was in consequrence of
the partial arrangement of differences in advance.
There was, at all events, no news in circulation
of a political nature to affect the quotations . The
announcement made respecting the Spanish fueros
made no sensible impression on the market. It was
an observation of our commercial men, that article
1 of the decision of the Cortes is completely neu-
tralised by article 2. The conduct of M. Men-
dizabal during the late discussions upon the. ques-
tion
is calculated to excite very " great disgust.
The whole of this pretended patriot's proct;edings
betray the schemer and stockjobber, and it argues
but a small share of discernment in Lord Clarend on that
he should have formed of him the opinion he his. The
Madrid correepondent of the Morning chronicle, of all
papers, gives the following report of the ex-Mints ter of
Finance :

" It is stated, but I trust not justly, that on this most
important and critieal eccasion Mendizabal made h;a; noisy
and boasted patriotism subservient to speculations on the
Bourse. After using all the efforts in his power -to sow
dissensions amongst the authors of the project I have
copied, and to induce some eminent members of dte Con-
gress to withhold their names from it in the early 7part of
the day, Mendizabal despatched a courier yesterday, at
half-past two, to Paris, from the very door of the C'ortes.
A large speculation for the fall, in the event of the iruerns
being thrown overboard, is given as the motive of th is pro-
ceeding. He afterwards proposed a new amendm exit on
the fuero reports in the Congress, giving power t o Go-
vernment to do as they pleased ; thus fanning the :flame
still moie between them and the Cortes."

It this isecount be a correct one, of which, fra an the
eh:irscter of the man, there can be no doubt, ti; e eon-
cwientious individual referred to would not, it is, quite
apparent, hesitate, for the sake of making a few thou-
sands on the exchanges of London, and Paris, 1 o ex-
po.;e his country to all the horrors of a renewei civil
war.

We should think that every cee who is caps ble of
reading a newspaper must by this time he tolerably well
neqaailted with the knaveries of the foreign lea; n sys-
teal. Every day's experience furnishes us witia some
fresh c n etunstaece or other in exemplification of them.
We have this morning a notification of Barorn Mon-
corvo. the Portuguese Minister, having on Frit!, a...yr wit-
nessed the cancelnaent, at the Bank of England, o `Three
/ per Cent. Bonds to the extent or '2;3,0001. on ace cunt of
his Government. This stock was contracted for, it
is to be observed, at the rate of 70 pe r cent.
1835, but the Government of Donna Maria 'having
stopped payment, and thereby reduced its market; value
to -23, her Majesty's respectable agents deem it . proper
to buy up at that price what cost a number their
dupes not less thin 73 per cent. It has probably never
occ,rred to the Governments of the North how excel-
lent a financial operation is to he accomplished 1 by the
cessation of payment of the dividends on their f, sreign
obligations, but the example now set by Portuga t will
serve to enlighten them. To borrow money at 71 ) per
cent., suspend payment of the interest thereupo& , and
then to buy up the acknowledgments at one-tiiii .d of
the sum, leaving altogether out of view the a rrear
of dividends, which ought to be worth 9 pi r cent.
more, is certainly a most safe and profitable sp ecu-
latien. Such a proceeding, if carried to any ,exk!,ent,
as we understand it° will be, must give iac re ased
value to the bonds remaining in circulation , and
pave the way for another loan ; but it striit es Us
that any surplus fund which the Finance IYli ulster
of Portugal may find himself in possession of might
be more honestly applied to the redemption at 7 the
overdue coupons, or the capital of the Treasury d eben-
tures, issued some time since, the amount of q hies,
like those issued by Mendizabal on account e f the
Spanish Exchequer, is very insignificant. Surel y the
scheme of buying up bonds during an interval of iank-
ruptcy is not the one with which the Baron de 1 4agos
comes entrusted ? Connected with this matter r eport
speaks of some plan or another which is in con. lei avia-
tion for throwing the Three and the Five pe r %Cent.
Portuguese Bonds into a new Six per Cent. Sto ck, and
for appropriating a portion of the revenue to she
payment of some part of the interest, so as to
.give, it
currency. We are unable, however, at present state
any particulars upon the subject. It is infam o us to
cancel public liabilities in the way we have her e de-
scribed ; but Spain and Portugal are as unequall( din
devices of this description as is the patience of t hose
who suffer so severely by their ingenuity. In vain will
the Directors of the Bank of England increase ; their
rate of interest, and suggest plans for preventing tht ex-
portation of gold, if so monstrous a system is to be per-
sisted in.

TIMES.—Some inquiry is naturally made by par
who are invited to take a share in the subscript;iot •Itietos
support the agent of the United States Bank, how the
collateral security is to be placed so as to be made al 'al--
able thr the interest of all concerned, in case of n
and what value is to be assigned to the stock se dt Po-
sited. These are questions the propriety of which is not
to be disputed. and which will, no doubt, be satisfai: ton .IY
answered when the proper time arrives. Such ii s th e
mystery, however, in which this apparently simple a ffait
is still involved, that though several houses have b leers
named as taking the prominent part in these subs ic rip-
tions, for the benefit of the subscribers generally, • tb ere
is no one which can with certainty be so design at kd.
When the selection is made will be the proper tim e :for
investigating the guarantees and securities under ri 'h ich
the advances are subscribed.
Some official returns connected with the expo; rt I if
gold and silver are in the hands of some of the lea dint
city merchants, which, as their accuracy is not to
disputed, must lead to some very remarkable coneiusi ons
as to the manner in which the affairs of the Rank of
England have been conducted. These returns intend
over a period of ten months, being from the tat of De-
cember, 1838, to the 30th of September, 1839,. and
embrace the whole time ;n which the Bank difficulties
have arisen—of the transition from full to nearly empty
bar% from a state of confidence to one of alarm., and
is el
mod
_utmost. uncertainty as to the future. The folk wing
un zeturn alluded to :

British cub% ...... SOLD.
Forei ...... 507,336 Ounces.
Bullion`rn,
. ........ 150,27$
.................. 325,534

783,148, or at 41. 3,13: 2,592
British coin 3ILVLR
........ 797,943
Foreign ................8,255.780 Ounces.
Bullion

12,459,137, or at 52. ....... 783

The probability that at least two-thirds of 14713 75
has been imported in the regular course
of trta,silver
as the Bask Director: have contrived within th le,
and
same
period to get rid of about 8,000,0001. value in go awl
silver together, it would follow that only abou a half
that amount has actually gone abroad, and that ti be rest
written
remains to be accounted for.
A curious passage occurs in a private letter,
, at St.
on the other side of the American Continent
Lois, Mississippi, on the 31st of August last , relative
to the Bank of England, and which has s; lice been
verified to the letter. The writer says—" I
agape' for
the honour and credit of the country, she will a ot go a
borrowing abroad, as they do in this couutry on stocks
and securities almost unknown to the lender." Vhere-
ever trade extends, the conduct of the Bankof tgland is closely watched, as a movement upon which tin
of all depends.

HERALD.—Tbet, in its commei .ciai
departments, has acquired a tone, and a greater de; :Ter
of firmness at present appears to oossessed at prevail in it thal I i
cope that nothing in coining events wi!l tend to throe w
cuand over the vast interests of this community.
Tne circumstances which have brought about !he

existing calm may thus be briefly related :—lt is now
pretty well understood that much of the apprehension
which did prevail in the Bank parlour has abated in
consequence of the symptoms which appear, that the
tides for the imports of bullion are at present moderately
setting towards this country, and, as it turns out that
the deficiency in the harvest in this country, as well as
other portions of Europe, has been much overrated, it
follows that the Bank of lingland Direction at present
feel themselves in a much safer position.
Another circumstance has also somewhat tended to
bring about the present state of things, which is the
general statement that the arrangements made by Mr.
Jaudon, on the part of the United States Bank and the
holders of its post notes, are now satisfactorily settled.