The Sun.
London, England, 1862-01-29 00:00:00

The litonzteur publishes an explanation of the
motives of the conversion, of which the following
are the salient points :
Holders of Four-and-a-Half per Cent. Rente
who might wish to convert their bonds into Three
per Cent. Rente, by buying the latter on the Bourse
would have to pay a difference of Bf. They will,
therefore, willingly agree to pay to the State a sum
below this figure. The result of the operation will
be to reduce the rate of discount and to afford industry
and great enterprises facilities for providing them-
selves with all necessary capital. The operation is
not an expedient to meet the temporary wants of
the Treasury, but is conceived in the interest of
public prosperity. The Obligations Trentenaires
can be exchanged for the New Three per Cent.
Rentes, at the rate of 20f. Rente for each Obli-
gation, without the payment of any difference. A
delay of two months will be granted to holders
of Four-and-a-Half per Cent. or Obligation Tren-
tenaires who may be resident in Europe and
Algeria, but not in France ; and of one year to
those who are not resident in Europe or Algeria.

TURIN, JAN. 28.

The Opinione of to-day says—Chiavono has de-
clared himself willing to surrender. His band,
which was supposed to have been dissolved, is
assembled at Terracina, where, it is asserted by
some, it will embark for Calabria, while others be-
lieve its destination is Sicily. A report is current
that General Bosco will join Chiavone.

ROME, JAN. 27.

The Pope has declared that be will not send a
Nuncio to St. Petersburg until the Czar has released
Canon Bialobrziski and the priests confined in the
citadel of Warsaw, and has recalled those who were
transported to Siberia. The Pope desires that
Russia should give guarantees to the Catholic
Church.

The first acts of the new Archbishop of Warsaw
are im patiently awaited.
A denial has been given to the report that Car-
dinals Patrici, Mattei, and Reissach had made re-
presentations to his Holiness, with the object of
showing the demagogic character of the Polish
movement.

BERLIN, JAN. 28.

The intended j.urney of the Crown Princess to
England, on a visit to her Royal mother, is ex-
pected to take place shortly.

MADRID, JAN. 27, EVENING.

In to-day's sitting of the Congress, Marshal
O'Donnell expressed his approval of the conduct of
General Serrano, and declared that Vera Cruz was
occupied in the name of the three Powers.

FRANCE.

PARIS, JAN. 28, EVENING.

In to day's sitting of the Corps Legislatif the Pre-
sident, Count Morny, in his opening speech, said:—

" In the whole world there does not exist a single
Government nor a single people which is not dis-
tressed by a grave crisis. Old societies are dissolv-
ing, new ones are becoming modified. Amid this
work of transformation, and notwithstanding the
difficulties in commercial and agricultural affairs,
France alorie has remained calm, confident, and
prosperous."

Count Morny then alluded to the late reforms,
and expressed his belief that the Corps Legislatif
would readily vote the Bill for the conversion of
the Four-and-a-Half per Cent. Rentes.
Count Morny said that, 136 fore the discussion of
the Address came on, he should wish to prohibit
the delivery of written speeches.
The report on the general state of the Empire—
a collection of diplomatic documents—and the bill
for the conversion of the Four-and-a• Half per Cent.
Rentes were then laid on the table of the House.

Count Morny said that, considering the urgency
of the question, a committee should be appointed on
Thursday next to examine the bill for the conver-
sion of the Rente. .

Some deputies having, however, objected to this
course, the Chamber deferred its decision until to.
morrow.

Among the diplomatic correspondence laid to-day
on the table of the Corps Legisiatif is a note from
M. Thouvenel to the Marquis de Lavalette, French
Ambassador at Rome, dated January 11, of which
the following is a summary :
" In recognising the Kingdom of Italy the Em-
peror's Government acted under the conviction that
the restoration of past dynasties was no longeipos-
sible.

" Among the Catholic monarchies, three only--
namely, Austria, Spain, and Bavaria—have refrained
from renewing official relations with Turin. No
Cabinet, however, thinks of reacting by force against