The Sun.
London, England, 1862-07-26 00:00:00

BILL.

Earl DE GREY, in moving the second reading of this
bill, said he did not intend to enter on that occasion into
any recapitulation of the arguments in favour of the neces-
sity of adequately protecting oar principal naval forts
and arsenals. In 1860, a plan was submitted to Parlia-
ment, and having received its approval, a sum of money was
voted to carry out the provisions of the bill embodying those
plans. He did not think it necessary to detain the house by
showing that it was not desirable to stop their mad career,
or either that the plan approved of in 1860 was inadequate
or unsuited to the present time, or that the danger
that was then apprehended had altogether passed away.
'The sum that had already been voted, viz., two millions, in
order to carry out the plan, had very nearly been expended,
and it became necessary at once to apply to Parliament for
a further amount. The works proposed at Portsmouth, some
of which were rapidly approaching completion, had all been
commenced. The works at Spithead had been temporarily
suspended. The forts in the Isle of Wight had been com-
menced, and the land purchased for others in that direc-
tion and at Plymouth, the sea, and what was called the
western defences had been commenced, while those works
at Pembroke were also proceeding satisfactorily. The
works on the rivers Thames and Medway were
being pushed forward as rapidly as possible, and in his
opinion the works looked upon as a whole were going on in
a manner that merited the highest approval. The
sum proposed to be voted by the present bill
amounted to £1,500,000. He was perfectly ready to reply
to any arguments which might arise; but not anticipating
any such opposition to the measure, he would conclude by
moving the second reading of the bill.
The Earl of ELLENBOROUGH, contrasting the means
of defence possessed by this country and by France, con-
tended that the latter power was in a far better position than
we were. He did not object to the bill on the table, but he
complained that when a scheme of fortifications had been
decided on, it ought to have been adhered to in its integrity,
instead of being subdivided, and extended over a series of
years. France had an army of 400,000 men, with a Na-
tional Guard of 265,000 ; and she could in three weeks orga-
nise a force of 200,000 for the invasion of England, if so
minded. The only force which we had to meet her was
43,000 regular troops and 200,000 irregulars, who could not
be expected to stand their ground against a well-trained
and highly-disciplined host. Our position with reference
to iron-cased ships also was unsatisfactory; and he argued
that it was the duty of the Government to see that instead
of being inferior in that arm of defence, we should be supe-
rior, not:only to France, but to all the maritime powers put
together. _ _

The Duke of SOMERSET defended the proposal of the
Government, denied that the country was insufficiently
protected, and stated that the Admiralty were devoting
their whole energies to the construction of iron-plated ships.
The Duke of CAMBRIDGE, speaking on behalf of the
War Department, said that there had been a large increase
in the military expenditure of late years, and that it had
been called for by the country itself for improvements in
commissariat and sanitary arrangements. These, no doubt,
could be reduced at any time, but not without detriment to
the public service. His object had been so to arrange that
the troops should spend twothirds of their time abroad, and
one•tbird at home; but he regretted to say that the force
in this country was so small that he had been unable to
carry out the intention.
The Earl of MALMESBURY expressed his general
approval of the bill, to which Earl GREY stated several
objections.
Earl RUSSELL combated the argument that we were
bound to maintain a large army to resist invasion ; and in re-
ference to the policy of France expressed his confidence in
the friendly disposition of the Government of the Emperor.
The bill was then read a second time.
Other measures were also advanced a stage; and
Their lordships adjourned.

HOUSE OF COMMONS—YESTERDAY.
The SPEAKER took the chair at 4 o'clock.
PRIVATE BILLS.

The Lords' amendments to the following bills were agreed
to, and the bills were ordered for third reading :—Cannock
Chase Railway Eytension.—Eastern Union Railway—
Great Western, Hereford, Ross, and Gloucester and Ely
Valley Railways—Kent Coast Railway—Shrewsbury and
Hereford Railway—Spalding and Bourn Railway—Totten-
haul and Hampstead Junction Railway.
The following bills were read a third time and passed :
Great Northern and Western (of Ireland) Railway—Sid-
mouth Railway and Harbour—and Tufnell's Estate,

NEW WRIT.
On the motion of Mr. WHITEHEAD, a new writ was
ordered to issue for the election of a member for the county
of Carlow, in the room of Captain Bunbury, who has
accepted the Cheltern. Hundreds.
PIRACY IN THE EASTERN ARCHIPELAGO.

In reply to Mr. CRAWFORD,
Mr. LAYARD said that the attention of her Majesty's
Government had been directed to this subject, but without
any successful result up to the present time. The Govern-
ment of the Netherlands had expressed their willingness to
act in concert with England ; and Spain and the other
powers, it was expected, would accede to a similar arrange-
ment.

THE 140 POUND ARMSTRONG SHUNT GUN.
In reply to Mr. OSBORNE,
Sir G. LEWIS said the gun in question had been loaded
with 251bs. of powder, and had split. He did not think
that the appointment of any additional committee in addi-
tion to what had been sitting on the subject of the ordnance
could be desirable, but he thought that the committee
should be reappointed next session.
Mr. OSBORNE said his object was for a committee to
inquire into the bursting of the gun.

Sir G. LEWIS said that the committee in question would
consider that subject.

INDIAN PRIZE MONEY.

In reply to Sir M. FARQUHAR,

Mr. BARING said that the distribution of this prize
money had commenced in India last December, and would
be continued from September next.

ALLEGED CONCERT BETWEEN THE FRENCH
AND ITALIAN GOVERNMENTS IN RESPECT
TO MEXICO.
In reply to Mr. GRIFFITIE,
Mr. LAYARD said that her Majesty's Government had
received no information as to there having been any
concert
between the two Governments alluded to by which the Italian
Government was to send troops to support the French in
Mexico in exchange for the retirement of the French troops
from the provinces of Viterbo and Villetri, or that any such
scheme was abandoned in consequence of its unpopularity
in Italy. He could give no information whatever on the
subject.
WITHDRAWAL OF THE BATTA TO TIIE AD_
MURAL ON THE EAST INDIA AND CHINA
STATION.

Sir J. ELPHINSTONE drew the attention of the house
to this question, and coimplained that the officer in question

Lord C. PAGET said with regard to the latter subject
that Captain Sherrard Osborne had obtained leave to enter
the service of the Chinese Government for the purpose of
putting down pirates in the Chinese seas, but there was
no agreement on the part of this Government that
he should receive an indemnity of £3,500 from the Chinese
Government. With respect to the observations of the hon.
baronet (Sir J. Elphinstone) he could only slate that all
officers accepting the situation in question did so with the
understanding that they were to give up their pay from
this country.
DEFENCES OF CANADA.
Mr. ADDERLEY drew the attention of the house to
this subject, and asked the Government for information as
to whether any arrangement had been come to between
this country and Canada as to the relative force that should
be supplied for the defence of that colony. He cited the
authority of different colonial secretaries to show
that Canada, from its wealth, was in a position
to defend itself from invasion. He referred to this country
sending out troops to defend the colony at the time of
an expected rupture between this country and America,
and he complained that the Canadians had shown great
apathy in providing for their defence:
Mr. A. MILLS was of opinion that the recent conduct of
the Canadian Parliament with respect to the Militia Act
Hreeco
apdarianlispmeeonptle
to,
by, it was impossible for-any Government to recal the troops
dn es pi
reconsider
their ways, but thought that, until the present peril passed
ema'ateds notan any attempt
otfebyfertehee
tchaen
that were now in the colony. The expense which had bccu
incurred for the defence of British America was, however,
enormous, amounting during the year to upwards of a
million and a half sterling. He was opposed to the
monstrous system of nursing the colony and encouraging it
to rely upon the arm of the mother country, which, in the
hour of need, must be inadequate for its defense unless it
were backed by a strong local force.
General EVANS did not believe that there was any
danger to Canada at the present moment, nor that there was
likely to be any during the next three or four years, and
that therefore no obstacle existed to the recal of the troops
if the Government thought fit to take such a step,
Mr. ROEBUCK said that the first question to be con-
sidered was, what were the feelings of the people of Canada
towards England. They had been led to believe that we
regarded them of such wonderful importance that we were
prepared at any expense to maintain our dominion over
them; what he wanted them to understand was, that we did
not care a farthing about their adherence to us. We derived
no advantage from the connection, and if we assisted in
maintaining their independence it was for their benefit and

not our own.
Sir G. C. LEWIS thought that, looking to the position
of the contest between the Northern and Southern states
of America, and to the manner hi which the affair of the
Trent was treated by the United States Government, there
was no immediate probability of a rupture of the pacific
relations existing between us and them. An invasion
of Canada meant war wirh England, and in that event the
United States must look forward to interference with the
blockade of the Southern ports by a British fleet. Giving
them, therefore, credit for the most ordinary prudence, no-
thing at present seemed more unlikely than that the United
originate a war with
nhlge Canadians had not
ythening their militia,
made States
cotu
nhGeotver
yeffr mo. r t
sHethey
dhomouuligt dthedtvfooltrunhsatttrar let
still he did not think that that was any ground for sending
out more reinforcements. When sufficient time had been
given to the Canadian Legislature to reflect on their policy,
and supposing them not prepared to retrace their steps,
then would be time enough to throw the entire defence of
the colony upon the colonists themselves. With regard to
our future relations with Canada, he looked foward without
apprehension or regret to the period when she might be-
come an independent state ; but it behoved England not to
cast her loose or send her adrift before she had acquired
sufficient strength to assert her own independence; and we
ought not, under a feeling of temporary irritation, to throw
her into the arms of the United States, and place her in the
position of becoming annexed to a power that was involved
in a serious contest, and had recently added millions upon
millions to its national debt. He did not himself believe
that the late vote of the Canadian Legislature on the sub,
ject of the militia was the result of any deep-seated design,
but rather an accident which arose out of the conflict of
parties.

Mr. T. DARING, being Iu oluse ouniumnieatlon with
Canada, had good reason to know that an impression pre-
vailed there that a desire existed on the part of this coun-
try and a majority of the House of Commons to force a se-
paration ; and if anything would strengthen that feeling it
was such speeches as had been delivered that evening by Mr.
Roebuck and Mr.Adderley. This impression on the part of
the Canadians had arisen from the coldness with which
Canada was treated in the early discussions of this session,
and it had been increased by the language of the public press
and speeches hero and in the Rouse of Lords. Ac-
cording to Mr. Roebuck, our proper course was to leave
the Canadians to defend themselves; but as long as they
wished to continue British subjects the obligation rested
upon us to maintain the union intact.
After some remarks from Sir M. FA.RQUHAR and Lord
BURY,

Mr. DISRAELI would be sorry to anticipate the arrival
of the time when the connection between Canada and this
country should terminate. There was no doubt, however,
that the relations between the self-governing colonies and
the mother country were becoming daily less satisfactory,
but ho did not see how we could summarily and hastily
adopt any remedy for evils which were in a great degree
the result of our own eagerness in conceding, after obsti-
nately resisting, their independence. We must rather trust
to the spirit and sense of the inhabitants, and in a large
measure to the character, talents, and resources of the go-
vernors whom we sent out to them. In this particular case
the fault of the Government was that they had not been
thoughtful on the subject of training Canada to indepen-
dence. On the contrary, they had not trusted sufficiently to
the resources and energies of the colonists, but had rather
unnecessarily anticipated those duties which the Canadians
themselves would have been ready to perform. Their inter-
ference in June last year,when they sent 3,000 men to Ca-
nada, was an intimation to the Canadians that we were
ready to undertake a monopoly of their defence, It damped
their ardour, and led to the unfortunate state of circum•
stances that now prevailed. He regarded our colonial empire
as one conducive to our strength. He could not measure its
advantages by the commercial profits, or even the military
force which in an emergency we might derive from such a
connection ; but the very fact that we belonged to a vast
empire which was founded on those principles of freedom
and equality which were necessary to the prosperity of such
an empire was itself a source of strength to this country, in
the elevation which it gave to the character of our country-
men and the influence it exercised on the councils of Europe
and the course of human events. He did not despair that
our present relations with Canada might be modified and
improved, and affairs there assume a more satisfactory aspect.
Lord PALMERSTON agreed with Mr. Disraeli in the
importance he attached to our colonial empire, and observed
that it was little to the credit of the Canadian Parliament
that they had allowed party feelings to induce them to refuse
the necessary provision for their defence. But he could
not ascribe that result to the sending 0ut3,000 troops in the
summer of 1861. Nor could he agree that that measure
was an indication on the part of the mother country that
she meant to undertake the monopoly of their defence. The
fact was that the garrisons of the North American colonies
had been reduced by the demands for the Crimean war, and
looking to the circumstances that were then taking place in
America, he considered it a wise precaution on the' part of
the Government to despatch some reinforcements to these
garrisons, even though no apprehension of danger was en-
tertained. So far from that force being calculated to cripple
the energies of the colonies, he thought it was rather adapted
to stimulate them to exertion for their own defence. It was
not the intention of the Government either to recall the
troops now in Canada, or to make any addition to them.
In answer to General LINDSAY,
Sir G. C. LEWIS stated that he should investigate the
question of Captain Grant's services in the improvement of
cooking in the army, with a view to ascertain whether that
gentleman was really entitled to compensation.
The Militia Pay Bill, the Corrupt Practices Prevention
Act Continuance Bill, the Court of Common Pleas (Officer
fur Acknowledgment),f Deeds) Bill, the Queen's Prison
Discontinuance (1862 Bill, and the Elections during Re-
cess Bill were read a third time and passed,
The Consolidated Fund (Appropriation) Bill passed
through committee.
The Burial Boards (Mortgage of Rates) Bill, the Gardens
in 'Towns Protection Bill, and the Council of Medical Edu-
cation Bill were severally read a second time.
The house Nvis counted out at, 25 minutes to 10 o'clock.

STRA/s GE MURDER BY A LUNATIC.—A shocking
murder was committed three days since at Cosne (Nievre),
by a lunatic named Chenu, who entered the house of a
woman named Charbius in her absence, and cut off the
head of a child two months old, which lay in a cradle.
Ile afterwards attempted to kill himself; but was pre-
vented by the entrance of some neighbours. When asked
his motive for commiting such a crime, he replied that
the child was crying and that it was necessary to make an
example of it.

Miles Opened. Receipts.
Railways., , e ^ 1
1862. 1861. 1862. 1861.
£ £
Ballymena and Pert Rush - - - -
Belfast and N. Counties 136 136 2,360 2,319
Belfast rnd County Down 49 49 812 739
Birkd., Lane., & Ches. Juno - ' - - -
Blyth and Tne 22 22 2,260 2,105
Bristol and Exeter l2ll 1251 7,024 6,690
Caledonian 2lg utt 16,736 17,164
Cockermouth & Workington 271 240
Cork and Bandon 2O 20 334 368
Cork, Blackrock, & Passage 6l 325 289
Cork and Youghal 321 27 511 276
Cornwall 531 531 1,334 1,340
Deeside l7 17 430 371
Dublin & Belfast Junction 63 63 1,483 1,451
Dublin and Drogheda 63 63 1,881 2,110
Dub. & Wicklow (in.Kingst ) 484 401 2,298 2,838
Dundalk and Enniskillen - -
Dundee and Arbroath 174 171 - -
Dundee, Perth, & Aber. Jun 3l 31 1,260 1,218
East Anglian (184 684 1,018 910
E.Counties,Nrik.,&E.Union 499 499 30,235 27,005
Edinburgh and Glasgow l6Ol 1601 7,514 8,865
Edinburgh, Perth,& Dundee 85 85 3,926 3,922
Forth & Clyde Junction
Furness
Glasgow & South-Western, 1831 1831 8,857 8,640
Great Northern 330 330 30,826 20,277
Great North of Scotland
Gt.Southn. & Westn.(lrind ) 329 329 8,358 8,834
Great Western 9644 9431 66,761 56,669
Inverness & Aberdeen Juno 55 55 1,601 1,094
Irish South-Eastern 25 25 2'B 232
Lancashire & Yorkshire 3951 395/ 35,455 40,173
Leominster and Kington - -
Limerick and Ennis 24 241 184 184
Limerick and Foynes 2 155 200
Llanelly 4 1
16 628 632
London & North-Western
London and Blackwall 5 2,227 1,825
London & South-Western
Loud. Brighton, &S. Coast 241 234 22,089 21,435
London, Chatham, &Dover 724 564 6,078 1,857
Lond., Tilbury, & Southend 45 45 2,204 2,529
Man.,Sheffield,&Lincolnsh ' 231 234 14,945 15,831
Manch. S.Jun.& Altrinchami 9 1,109 1,245
aryport and Carlisle
Midland (incl. N.-Western) 6141 6144 40,841 43,965
Midland Gt.Westn. of Irlnd 192 192 4,005 4,198
Slonkland 72 56 1,729 1,556
Monmouthsh. Rail. & Canal 44 *I 2,383 2,237
Newcastle and Carlisle 784 784 __ -
North British (incL Selkirk
and Galashiels)
North Devon 35 35 566 525
N-Eastern(_Bedale&Leybrn) 878 867 44,159 46,255
North London 9 9 3,132 2,676
North Staffordshire 246 246 7,678 7,200
Oswestry and Newton...- 42
42 1,002 657
RhynaneY
St. Helen's Canal & Railway 52 52 2,011 1,854
Scottish Central
Scottish North-Eastern 1324 13 5,344 5,440
Shrewsbury & Birmingham - - _ -
Shrewsbury and Chester -
Shrewsbury & Hereford
Shropshire IJnion...-
South Devon ..-- ..... - 7si 751 3,901 3,746
Eastern .........- 306 306 27,073 25,130
South-
South Wales -
S. Yorkshire and River Dun 118 118 - -
Stockton and Darlington
Taff Vale . 5l 64 6,610 5,065
Ulster 5l 51 2,018 1,866
Ulverstone and Lancaster . 19 19 - -
Vale of Clwyd
Vale of Neath 35 35 1,971 1,981
Waterford and Kilkenny 3l 31 369 383
Waterford and Limerick 77 77 1,413 1,880
West Cornwall 274 274 762 750
W. II artlepool H arbr. & Rail 39 39 4,152 5,051
West Midland. -
W'haven,Cleator,&Egrmnt 7 -7
-493 467-5
Whitehaven Junction.-- 12 12 676 675
Whitehaven & Furness Jun. 35 35 705 676
FOREIGN AND COLONIAL.
Antwerp and Rotterdam 52 52 1,182 1,174
Austrian B2B 673 38,106 37,686
Belgian Eastern Junction-- 26i 294 253
Buffalo and Lake Huron ... 161} 1:1 2,141 1,788
Detroit and Milwaukie lB5 185 3,031 281
,579
Dutch Rhenish
Eastern of France...- 1032 1032 48,306 52,
East Indian
Grand Trunk of Canada lO9O 1090 12,065 11,815
7 306 6,805
Great Indian Peninsula.- 137/ 3504 • ,
134 123 4,596 3,40.
i
Great Luxembourg 345 8,356 6,062
Great Western of Canada 345
142 142 5,480 5,613
Lyons and Geneva 284 16,860 15,380
Madrid, Saragossa &Alicant 301
94 - -
Northern of Canada ...
701 623 50,234 48,037
Northern of France 44 1,274 1,237
Norwegian Trunk 44
Paris, Lyons, & Medit,errn 879 892279 9407+,515621 8547;400585
Paris and Orleans 3922 763 -
Pernambuco - -
69 645 564
Royal Dani5h.............. 69 69 1,226 1,339
Sambre and Meu5e......... 68
_ 1294 1234 53,670 47,701
South Austrian
23,390 22,117
Southern of France ....• 777 2757 -
Welland.. - ............ .... 25
75 752 991
West Flanders . . ....... ... 75
W. and N.W. of France.... 750 750 10,599 39,648

CHARGES OF FOREIGN TRADE.-011 Thursday
was issued the report of the select committee appointed to
consider the best mode of obtaining statistical information
respecting the foreign trade of the United Kingdom, and
the operation of the charges imposed on it by the Customs
p
Act of 1860. The principal officers of custom are of o •
that the system of collecting statistical information has opinion
lon
improved by the operation of those charges, but th
mer-
cantile witnesses are of exactly the contra;e
h lopinion,ca ragneds
the testimony of the latter unanimously declares the
to operate in an obstructive, vexatious, and expensive way
theupon trade and commerce. The Chancellor of Exche-
quer, it appears, distinctly told the committee that the
principle of the tax on imports may be regarded as aban-
doned. It yields about 1.38 oo per annum, and the tax
on exports about L4-3,oo—ins•g •
lit
think, considering the oy £43,oo—insignificant sums, the committee
ce they cause. The committee
are, therefore, of opinion that these small charges on
commerce are unwise
and inexpedient, and reconunand
their abolition,"

A delay ensued at the start, owing to the anxiety of some
of the jockeys to get away on good terms, with the excep-
tion of Tisiphone and Reindeer, who, after being left at the
post, followed the rest, after an interval of many lengths.
The front ranks comprised Redpole, Baron Munchausen,
Humphrey, and Birdhill, Hetty leading the next lot,
Humphrey and Hetty singled themselves half way up the
distance, Mr. Lambert's horse leading the way. He in-
creased his lead to the end, and won easily by a length ;
three lengths separated Hetty and Birdhill. Fig was
a bad fourth, Redpole close to Fig, fifth, and Acco was
sixth.

The Stamford Cup, value 100 soya, by subscription of 10
soya each; for 3-yr-olds and upwards ; certain penalties
and allowances. Three miles. 16 subs.
Mr. Parr's Dusk, 3 yrs, 7st 71b .. (Clement) 1
Lord Westmoreland's Schism, 6 yrs, 9st 61b.. (J. Goater) 2
Lord Stamford's Dulcibella, 6 yrs, 9st 31b.. (A. Edwards) 3

Betting-5 to 2on Dusk, 4to 1 agst Dulcibella, 10 to 1
agst Schism.

..,
Dulcrbella made the running for the first mile and three-
quarters, Dusk lying second, and Schism being three or
four lengths in the rear. Before they bad proceeded two
miles Dusk went to the front, increased his lead, and won
in a canter by a dozen lengths; Dulcibella beaten off.
A Selling race of 5 soya each, with 40 added ; for 2-yr-olds
and upwards; penalties and allowances. Three-quarters

of a mile. 3 subs.
Lord Westmoreland's Bones, 3 yrs (£3O), sst 121 b
(j. Grimskaw) 1
Mr. R. I'Anson's Passion, 2 yrs (£5O), 6st llb (C. Gray) 2
Betting-4 to lon Bones, who jumped off with the lead,
but was quickly passed, and remained in the rear to the
distance, where he took up the running, and won easily by
two lengths. The winner was bought in for £7O.
First Year of the Fourth Wothorpe Biennial Stakes of 10
sovs each, with 50 added by the Marquis of Exeter, for
two-yr-olds ; colts Sat 101 b, fillies Bst 71b, penalties and
allowances. T.Y.C. 19 subs.
Sir H. Des VOMIX'S Taje, Bst 71b (Custance) 1
Count Batthyany's Turcos, Bst 101 b (Wells) 2
Lord Stamford's Revolver, Bst 101 b (A.. Edwards) 3
Oakapple also ran.
Betting-6 to 4 agst Taje, 9to 4 agst Revolver, 3to 1
agst Turcos, 10 to 1 agst Oakapple.
Revolver, next the rails, and Turcos ran slightly in front
to the half distance, where Taje rushed to the front and
won easily by a length; Lord Stamford's colt was a bad
third, and Oakapple did not pass the post.
The Scurry Handicap of 10 sovs each, h ft, for all ages ;
gentlemen riders ; professionals, 61b extra. Five fur-

longs.
Mr. Hamilton's Pellucid, 3 yrs, 9st 41b (includ 61b ex)
(J. Goater) 1
Lord Uxbridge's Marble Hill, 3 yrs, 9st 101 b (in 61b ex)
(S. Rogers) 2

Betting-3 to lon Pellucid, who won by a length.

THE WANT OF SPECIE IN AMERICA.

(From the New York Tima.)
THE SCARCITY OF Cots.
The scarcity of change, or rather the hoarding of small
silver, has brought upon us a famine, for the relief of which
every shopkeeper in the city has his little remedy, suggests
his humble plan, and offers his worthless plaster. It is time
that some authority should take hold of what promises to be
a pernicious system, stop it, and put in operation something
that will counteract miserism on the part of the hoarders.
and bring actual relief to the entire community, Which now
suffers for the need of small change. Yesterday silver was
at a premium of 12 per cent,—that is, 1 dol. in silver was
worth 1 dol. 12c. in bills. Naturally everyone who has sil-
ver in his hands is desirous of keeping it, while those who
have it not are desirous of getting it. To small dealers the
greatest possible inconvenience is occasioned by this lack
of fractional media, and, to obviate the trouble thrust upon
them, they are beginning, in numbers, by no means in-
considerable, to offer to their customers individual I 0 U's,
or what are more popularly known as shinplasters. Their
reason for this course seems valid—they must do it or
lose their profit ; but that in no way helps the matter, so
far as the cautious public are concerned, for they wish
to be assured of the worth of these due bills, a feature
most hard to establish. In the meantime the difficulties
stare us in the face. Suppose, for instance, that four
moderately hungry individuals go into Delmonico's and
eat each 25c. worth of roast beef, bread, and butter. They
hand to the cashier each a dollar bill, and he returns
them each 75c. in silver. How does the transaction stand ?
The cashier gives them 3 dols. in change, which, at yester-
day's rates, are worth 3 dols. 3Ge. He has given them
also dinners worth 1 del., making, in return for their 4 dols.
4 dols. 36e., thus giving them in provisions 1 dol., in
change 3Gc.—total, idol. 36,i—for what is worth 1 dol. ;
BO that, instead of retaining 1 del., he has but 640. Of
course the establishment is unwilling to submit to such
rates, and at once casts around for a remedy, and naturally
takes hold upon the shinplaster system. Already a num-
ber of the best restaurants in the city have commenced the
issue of these bills, and equity demands that if one may
tin so all may. Om, nn
circular in which he proposes to grant to all specie-paying
customers a discount of G per cent. from the face of his
cheque, while ,those paying, in bills he will charge a pre-
mium of 10 per cont. This irregular way of doing buiness
breeds trouble, discontent, and distrust, and it is an
impe-
rative need that something be done at once. It has
suggested that the City Government come to our been
r
issuing 1,000,000 dols. in fractional parts of a dollar. This
hbv
i-s
would, we are told, at once set afloat a currency of recog-
nized validity, which would crowd out allindividual specu-
lation and all private assumption. The people would have
confidence
the trustworthiness of the Paper, the need
for silver would pass away, and the
and hug their shining pieces with misers might hug
an-
noying or disburbing the out in any way
community, This for what it is
worth. The Fulton Ferry C
every man desiring to cross must
has determined that
change or take it out in tickets must provide himself withd
with huge rolls of ; stage drivers are provide.
maidens or Pennies which they hand to timid
astonished men
7 filling pockets with unaccus-
tomed copper, and intimating that they must have the
necessary sixpence or take the troublesome nickel ; shop-
keepers decline selling goods valued at 3s. or 4s. unless the
currency is forthcoming, and absolutely take back the stock
rather than make the change. The batiks decline taking
hold of the matter—it is too small game for them ; and the
only way uy which we may be saved fis
for the promissory
and liarry, a recognised
pasteboard of Tom, Dick,
authority like the City or State Government to issue
bile confflence and secure
such paper as will command public

STATE OF TRADE.

universal currency.
SILVER CIIANGE.
We may as well make up our minds at once that silver
change, from bad financial management in Washington, is
gone till the war is over, and act accordingly. Our silver
ters and halves, in 1853, were purposely made in light
quarht
ig to stop export ; but the weight is not light enough
we
who, the premium on silver is 1-10, and hence silver now
go, as gold goes, to nations that appreciate it, by re-
deeming their paper in gold and siver, and doing as we do,
redeem one species of State Bank paper in another species
of Federal Bank paper—thus doubly inflating paper by
making it two removes from gold and silver. The weight
of tiro Aflieriogt silver dollar is 4121 grctiAs etarglarcl

/ 7 z,t9/ 7AP - r
—e___,-- - I_,
JNEWSPA PE 11
•
( ;,..,/ , . •
..-..,:i4,;t1
nine-tenths fine ; and the smaller pieces in *Ow T. ,:ri
vious to February, 1853, were of the same Ali•Wel . .e.
and fineness. Owing to the rapid produc ei itielE ' 1-:-i'.
silver increased in value, and in 1353 thew gigl e -,1
dollar and smaller coins was reduced to fra Itier ::,Le,'
grains to the dollar, the silver to be of the same fibineel
the old coin. It is now proposed that eighths and 16ths o
a dollar shall be coined at the rate of 320 grains to the dole.
\
lar, which would be a further reduction of about 17 Per
cent, and so forbid export,—.the only way to prevent it, as
the export duty on gold and silver, that some propose, is
utterly unconstitutional, and cannot be done by the Federal
Powers, unless, as in other cases, because of the war, they
leap right over the bars of the constitution and the laws.
Meanwhile all classes of people here are racking their in-
ventions to produce " change," The cents—copper, big
and little, nickel and all—are now kept done up in 25c. and
50c. packages, and handed out for " change ;" but even
they are above paper, and, if they go higher, will be hoarded.
and sold, as silver is now. The Restaurant s already are,
issuing shinplasters. The Delmonicos issue "plasters" of
50ce and redeem two of them in a dollar bill, when offered
at any of their eating-houses. It is said that the New
England banks are preparing to issue bills for 50c. and 25c.
It would be well if we could have some as good a fount of
issue in this State as these New England banks.
THE RISE IN GOLD, &C.
The currency and small change difficulties are working
great injury to the retail trade of the city, and giving in-
sufferable annoyance to all parties, whether buyer or seller.
Gold, silver, and nickel have all become so highly appre-
ciated that in purchasing a cheap dinner or a cigar after it,
a pound of sugar, a yard of cotton cloth, or such like
articles, the discount on a dollar bill, or a five-dollar bill, is
often greater than the value of the article purchased, and
hence the seller, in furnishing geld, silver, or nickel change,
actually loses more than the value of the goods sold. Tho
various expedients adopted to obviate the difficulty give
almost as great annoyance as the original trouble itself. The
private shinplaster system is the worst. A person may
come down town in the morning with five dollars in bills in
his pocket, and after making half a dozen trifling purchases;
may find himself with four dollars of shinplasters, which
are worthless except at the places where they were issued,
which he may not want to visit again in a month. Postage
stamps for change are also a great annoyance, particularly.
in these dog•days, as they stick to the fingers, to the port-
monnaie, and to everything, and quickly get torn, dirty,
wasted, uneurrent, and worthless. It has been proposed
that the city authorities issue paper change of the denomi-
nations of 10c., 25c., and 50c., which might be made uni-
versally current—in other words, a sort of legal tender. It
is said that the New England banks a=c preparing to issue
bills for 25c. and .50c.; but. they could not supply us with this
currency, even if we wanted it. Probably the best mode of
relieving the difficulty at present is that adopted in some
establishments on Broadway—namely, for the storekeeper
to charge the current premium for specie when it is paid
out, and allow the premium when specie is received. This
mode also has its troubles, and in the daily fluctuations in
the price of gold, silver, and nickel, would necessitate a good
deal of sharp calculation. But, in lieu of something better,
it is the most equitable and convenient way of relieving
what, after all, is only a temporary annoyance.
(From the World.)
Yesterday the excitement in Wall-street, owing to the
sudden and extraordinary advance in the price of gold and
foreign exchange, seemed for a time to bewilder every-
body. The price of gold opened at the morning Board
at 113 j, and rapidly advanced to 1152, but in the open.
markets sales were made at 1161 and 117, and many
holders declined to sell at any price. At the after-
noon Board sales were made at 1.161 to 116 f, and in tll7
he
open market the closing price of the day
was
firm, and with a tendency to advance. Foreign exchange
sympathised with gold. Sterling 60 days bills were quoted
at 1252 to 131, and sales were made at 129. These facts are
significant of financial troubles. They are the result of ex-
cessive issues of paper money; they are the result of nothing
else. The attempt to seek their cause in the retreat of
M'Clellan is simply ridiculous. If military or political dis-
asters cause gold to advance, why did gold not advance last
year when Washington and the Federal Government were
ces
alike defenceless and threatened by the rebels? Why
did Ex-
cessive paper
notadisysuanes are th advance
e a
peremium
simple after Bull
cause of gold
Run? Ex-
being to-day at 17 per cent. premium, or, in other words,
for the value of the legal tender dollar note being 83c. Go-
vernment Sixes, quoted at 102, are in reality selling
at 85
for those which our banks bought at about 90. These
are the results of using as money about 80,000,000 dols.
of the 100,000,000 dols. already engraved by Government.
We have no word of fault to find. We simply ask what
Mr. Chase expects to be our financial condition as a com-
mercial nation, when 300,000,000 dots. are issued, or over
three times the amount which has raised gold to 17 per
cent. premium. The figures are startling enough to make
the most infatuated believer in paper money pause and
reflect. We suggest to Mr. Chase an immediate return to
those sound principles of finance, on a specie basis,
which all past experience has demonstrated to be the
easiest in practice and the most profitable in its results.
We suggest that no more legal tender notes be issued until
the bank-note circulation is reduced. We suggest that all
contractors' and other claims be 'paid in certificates of in-
debtedness. We suggest that the secretary use the
60,000,000 of Treasury notes bearing 3.65 per coat. per
annum interest, of the denominations of 10 dols. and 20
dols., which:were authorised Iby the law of July, 1861.
We suggest that Mr. Cisco and other Assistant-Trea-
surers in the large cities, be authorised to receive cash
on deposit at 5 per cent., instead of being limited to 4 per
cent, at a time when the market rate for money is higher.
We suggest that Mr. Cisco be authorised to sell to appli-
-1 cants the securities of the United States authorised by Acts
of Congress, at rates fixed and published from day to day,
and governed somewhat by the New York market quota-
tions, providing these are not in conflict with the laws of
Congress. If these measures fail to provide funds enough
to carry on the Government expenditure, then resort to the
last desperate use of paper as money. Let the public know,
twice in each month, the position of the Treasury Depart-
ment, namely, the amount ix circulation, their denomina-
tion, the audited claims to date, paid and unpaid, and the
mode in which they were settled. The public mind is un-
settled by the Government financial system, and they have
no heart or confidence to proceed vigorously with their
legitimate business to make money and help to pay the
heavy taxes. A return to correct principles in finance
would tend to restore mercantile confidence, ,as nothing
else will.

MANCHESTER, July 25.—The market is very firm
for yarns, which are remarkably scarce, of all kinds,
but there is no business doing. There has been a
good deal of inquiry, but it has not led to operations,
and the market closes quiet. This is probably, to
some extent, the result of the inactivity in the
Liverpool cotton-market. The sales during the week
at Liverpool have been exceedingly small, out of a
total of 21,380 bales, only 3,000 to 4,000 being
taken by manufacturers for consumption ; while
Surats have gone down Id. per lb ; Egyptian and
Brazil, id. to 4-,d. ; and American (practically), 4id
•
per lb. We have had no business in cloth. If there
is any change it is in rather more disposition to buy,
and there have been more offers, but the prices
buyers are willing to give are somewhat below what
have been current, and have not been acceptable to
manufacturers, most of whom are rather dis-
posed to more firmness, believing that the great
decrease which has now
will, before long,taken place in produc-
tion,,
appear to be tell upon prices. Buyers
gaining confidence,
n
pro-
bably 'we shall have more activity and
ext week.
Notwithstanding the decline in cotton this week,
',o.ll,Schc,ture - still relatively
.r. enmplam that it Is
' much higher than any prices they can obtain for
their cloth. Some samples of Indian cotton, in ex-
ceedingly fine condition, hate this week been sent
to the Cotton Supply
Association. It has been
grown in the Madras
presidency, and was yester-
day valued by Messrs. Tetherington and Co.
(brokers), as follows;--No.stpielong, but rather tender, 153-d.
1, Bourbon, good colour,
a
pretty clean, .. _
to 16d. per lb.; No. 2, New Orleans, clean, good
staple even, long, but very tender ; No. 3,
Brazilian, n
, good colour, clean, staple long and strong,
colour,3r
but rather coarse, value 17d. to 174 d. per lb. ; No_
4, indigenous, brown in colour, pretty clean, but
staple short and mossy, 131 d to 140. The New
Orleans is valued at 15A cl. to 161t1 , and the value
of New Orleans grown in America, of middling
quality, to-day is 17,-"d. per lb. The sample of
Brazilian is exceedingly satisfactory, and all these
kinds, if supplied in quantity, would readily find a
market here, even if in competition with American
grown staples.
--

AN ENGLISH FASHIONABLE PICKPOCKET IN
PARIS.—An incident occurred at the Variettls theatre a
night since, after the performance of Une &waive a
Lnd r o
c.rs, tw
and which might almost. have passed for an
episode of the piece. As the audience were coming out
of the theatre, lady
oiol
felt a movement in her pocket,
and instantly seized the hand of her next neighbour, an
elegantly dressed woman, who had taken her purse. On
being accused of the theft, the latter expressed great
indignation in a strong English accent. She was at once
taken before the commissary of police, and there gave an
t
address which proved to be false. The next worninpule
was ascertained that she had lodged at a hotel is
I'6ora:re, and that two Englishmen, ll°,
had
„I, :curs lug
left for London that morning at six, anci Who
refused to
gage with them. The lady pickpocket' to await her
give her name, has been committed to prison
trial, her car