The Sun.
London, England, 1854-03-23 00:00:00

i'HURSDAY EVENING, MARCH 23, 1854.

does not seem to have struck the Learned Gentle-
men on either side ; we mean that the loss of a
vote, the only thing which the Legislature pro-
fesses to give, can hardly be any punishment at
all to the man who sells it for a bribe. Sir A.
COCKBURN deprives him only of the power of
voting for this or that Candidate ; but he has
shown that he cares neither for Candidates nor
for their politics ; and it must require some
assurance to pretend that to lose his vote merely
would to him be any penalty at all.
We shall not, on the whole, be sorry to see
this measure kicked out. Besides the very ques-
tionable ground of acting on a man's extorted or
purchased confession, the thoroughgoing Re-
formers have a fair claim to try their hands on
these boroughs. Why should not the almost
forgotten Sir WILLIAM IVIOLESWORTH have a voice
for once, and be allowed to try the Ballot upon
five almost hopeless boroughs? Has he lost him-
self amongst the Woods and Forests ? The Attor-
ney-General himself is also, if we rememb9r rightly,
a friend to the Ballot. We shall have no pity
for a Cabinet, in which the Ballot is an open ques-
tion, if it will continue doggedly to refuse a trial
of it in any shape or form. Minority members,
and disfranchising voters on a confession obtained
by promises of immunity, are infinitely more at
variance with all our English habits and feelings
than secret voting. To this it must and will
come at last. Indeed we question whether the
disfranchisement of all who have confessed to
receiving bribes would not leave ten times as
many in each constituency who have been bribed
by hopes, or fears, or flatteries, as degrading to
them, in their station, as the few pounds to the
needy man by whom they are received. All these
can be emancipated by the Ballot alone.

Colonial Church Disabilities might really be
removed very easily; and with satisfaction to all
parties. It is only to carry out the colonial sys-
tem which is now so fully recognised by all our
statesmen, and to give up all interference on the
part of Government with Colonial Churches, and
the whole thing is settled. As we observed last
year, Mr. WALPOLE was perfectly right in refus-
ing to impair the supremacy of the Crown, while
Mr. GLADSTONE was right in wishing the Epis-
copal Church to enjoy in the colonies the liberty
necessary for efficiency ;—a liberty, as Lord JOHN
RUSSELL pleaded on Monday, enjoyed by Catho-
lics, Weslayans, and all but Episcopalians. Mr.
BETHELL'S Bill, then, should have but one clause,
a clause declaring that henceforth in all our colo-
nies, properly so called, the Episcopal Church was
entirely freed from any legalised ecclesiastical
connection with the Church of the mother
country ; that such connection with the Colonial
Government as it seemed fit to the colonists
to establish or allow, should be left to
the colonists and their Church ; but that
all connection with the Church of England at
home should be purely voluntary. No one seams
to know precisely what are the links which at pre-
sent unite the Colonial and the Mother Churches.
Lord JQHN RUSSELL thought they might be re-
duced to one, the nomination of their Bishops by
the Crown. If this be all, nothing would seem to
be easier than to say to our colonists, "Choose your
own Bishops as many, and as you please ; give
the Colonial Governments power to name them if
you like, which probably you will not prefer, but
take the matter into your own hands. Our own
Bishops are quite enough for us." Lord JOHN Rus-
SELL'S parallel between the allegiance of Colonial
Catholics to Rome and of Colonial Wesleyans to
the English Conference would then hold through-
out, since that allegiance is entirely non-political.
Even Mr. HADFIELD, and the Member for Rochdale,
would probably vote cordially for such an arrange-
ment, since their only objection to Church freedom
in the colonies is the connection between their
churches and the Government of the mother country.
We presume that both theseextremeNonconformist
members, and those who think with them, would
be perfectly satisfied were the whole business
turned over to the Colonial Churches, govern-
ments, and people. The supremacy of the Crown,
which we hope Mr. WALPOLE will continue vigi-
lantly to guard, could not be trenched upon if the
Colonial Church was declared to be a Colonial
and not a Crown affair. All xogulations made by
Synods then would have only the force of volun-
tary rules, or, if the Church was endowed by the
Colonial Legislature, would come under the cog-
nisance of the Colonial Government as purely
colonial matters. Air. GLADSTONE, on the other
hand, could not object to the Bishops being nomi-
nated and consecrated for the Colonial Churches
in any way by which it was preferred to keep up
the ecclesiastical connexion with Canterbury and
the Mother Church. He would have at once his
Spiritual Freedom and his Church Unity.

:HONEY MA It KE T

AND

COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 5,000 bales, with a heavy market, and
prices had a downward tendency. The sales com-
prised 4,000 American, 300 Egyptian at 6id. to
71d., 500 Surat at 3d. to 4zd., and 30 Sea Island
at is. 1.4 d. to ls. Bd. per lb. Railway Shares
were quiet, but dull.

The following communications show the very
great interest felt at the outports in the promotion
of Tribunals of Commerce :
" TRIBUNALS OF COMMERCE ASSOCIATION.
" 12, Mark-lane, 23d March, 1854.
" Sir,—Will you permit me through your columns to
inform your many mercantile readers that last week the
Mayor of Bristol, the President of the Chamber of Com-
merce, the Vice-Presidents, and about 50 of the leading
merchants and shipowners of that city, became sub-
scribers to our fund. This example, we have no doubt,
will be followed by other towns, and thus we. shall be
enabled shortly, we hope, to do what our President the
Right Hon. Lord Beaumont has now recommended,
viz.--` lay some clear and intelligible plan before the
country.'

" Up to the present time, by advice from the highest
authority—we have avoided details, dealing only with
the narrow end of the wedge—we have now studied all
that can be said about the necessity of a strict observ-
ance of the forms prescribed by law'—the fact that
custom creates no right' in law,—and that to sub-
mit a Tribunal of Commerce to the control of a superior
law court would be an absurdity.' As soon as our funds
afford us the means of bringing needful talent to our aid,
we shall meet, and, we hope, conquer these objections
as our continental neighbours have.

" I am, sir, yours very obediently,
"FRANCIS LYNE, Chairman."

The Turkish Loan has at last been announced,
and the amount is 2,200,0001. The price is to be
85 for a 6 per cent. stock, redeemable in 15 years
by equal annual drawings. The dates at which
the several instalments are to be paid is not yet
announced.

The increasing tightness of the money market
has induced the banks to give more for money left
with them for employment, and much attention is
now directed to the future action of the Bank of
England. There is no unusual demand for money
to be employed for business purposes, but for ex-
portation the inquiry continues, and, as far as
present appearances go, is likely to be kept up.
There is no occasion to seek an explanation be-
yond the heavy charges we are entering upon
in our warlike preparations. The large arrivals of
grain must absorb some amount, but they are
partly from the United States. The corn specula-
tion now seems breaking up, and with fine weather
we shall expect prices to go still lower. There
will nevertheless be steady imports. The arrival
of more bullion from Australia is expected in the
course of a week or two, and it will no doubt be
immediately absorbed.

The last week's railway receipts ascertained up
to this day are in round figures as under :

1854. 1853.
Great Western
North-Western
South-Western
Brighton
Midland
South-Eastern. 14,298 10,921
Cr,.ledonian, and Edin. and Glasgow 15,200 12,683
Great Northern 18,250 14,359
Lancashire and Yorkshire 17,592 17,478
The English Funds have been depressed again
this morning, but the business done has been
smaller. Consols have realised 89i 4, and are now
only 89 to 4. Exchequer Bills have been at par to
4s. premium, and East India Bonds at 3s. discount.
India Stock has been at a decline to 230.

Foreign Securities have been heavy generally,
and Russian are still giving way. Looking at the
gigantic combination against that empire, and the
exhaustive process through which she must go in
defending herself, many consider the Bonds to be
even now 10 per cent. above their value. The
holders in Holland are very numerous, and they
are justly alarmed. The 5 per Cents. have fallen
to 77-,1! No business has been transacted in
Dutch Bonds. Mexican Stock is worth 221 to 23,
and Peruvian 50. Danish 5 per Cents. have been
at 92 ex dividend.

The Railway Share Market is heavy again, and
many of the English lines are cheaper. The North-
Western and Eastern Counties are flat. French
shares are nominal, and nothing is doing in the
other foreign lines.
The shares of the Land Companies have been
falling. Australian Agricultural are about 1/.
down, and Peel Rivera to
The Bank Shares of Australia are heavy, and
Mines of all descriptions are nearly nominal. This
remark applies even to the English mines.

BRITISH FUNDS THIS DAY.-CLOSING PRICES.

( Prom the Oficial List.)

3 per Cent Consols Annuities B9 24 _9 4 9
New 21 per Cent. Annuities
ildia. Stock
India Bonds, £lOOO ....... ..........
Ditto, under £lOOO 3 d
Consols for Account 18th April B9i 9 ,11 8i,7- 9
Exchequer Bills, 2d.
£IOOO
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent. 96
Danish Bonds, 1825, 3 per Cent
Ditto 5 per Cent
Nfaxican 3 per Cent.
Peruvian Bonds, 44 per Cent. 56 x d
Peruvian 3 per Cent.
Russian Bonds, 1822, 5 per Cent. £ St B3} x d
Dia) 41 per Cent 784 74
Spanish Bonds, 3 per Cent
Ditto Passive (Converted)
Dividends on the above payable in London.
Dutch Exchange, 24 per Cent. 12 Guil 534
THREE O'CLOCK.
Consols BB4 9
Ditto April Account BB4 9