The Sun.
London, England, 1854-02-27 00:00:00

THE SUN, LONDON, MONDAY
_EVENING, FEBRUARY 27, 1854

of a country with which he is on the eve of war-1
where he has new vessels in course of construction
in many private yards throughout the Kingdom,
and where not only machinery and coals for
his steam-fleet, but even gunpowder for his
cannon, and pay for his Cossacks, are all to be
obtained in England. We have now at length
stopped many of these supplies. Two large ope-
rations for the delivery of gunpowder have, we are
told, been "happily disconcerted," and the stores
intended for the destruction of our soldiers and
sailors have been seized. But nothing is done
about the most important of all, and Russian
agents are at this moment actively engaged in
drawing bullion from the Bank, and achieving the
double purpose of injuring our trade and commerce by
the means on which it flourishes, and replenishing
the attenuated purse of the AUTOCRAT at our ex-
pense, so as to enable him to persist in his aggres-
sion and gratify his insane pride, although at the
cost of thousands and tens of thousands of human
lives. If we desire to show that we are in ear-
nest—if we wish to inflict the heaviest blow and
greatest discouragement to the Northern Despot,
we will forthwith suspend cash payments, and
issue a National Note for domestic circulation.
Such a decisive step, involving the sacrifice of our
most cherished prejudice, would afford stronger
evidence of our sincerity and determination, and
do more to discourage the Russians than if we
doubled our naval preparations, and sent twice the
number of men to support our ancient ally.
It may be said that there is as yet no necessity
for such step, that there are still more than six-
teen millions and a quarter of bullion lying idle
and unproductive in the cellars at Threadneedle-
street. Granted. Then let us make that money
available for the war, by the issue of a sufficient
number of notes ; let us dispense with the use of
sovereigns in the every-day transactions of life
by providing an adequate amount of 1/. notes,
which in Scotland and Ireland already are, and
in this country speedily will be, greatly pre-
ferred to gold. By these means twenty, aye,
thirty millions of specie may be obtained without
injury. The loan required by our faithful and
efficient ally may be advanced. We may send
the whole or any part of 8,000,000 sterling to
France, and also afford the pecuniary aid sought
by Turkey. All may be done without the
slightest inconvenience if we only take time
by the forelock, and do early in 1854 that which
we may be compelled to resort to in 1855, when
all the mischief is done, and when our coffers are
drained to the utmost. Now that they are overflow-
ing we can maintain our credits though suspending
cash payments ; but it will be very different when
our means are exhausted, and we are, indeed, inso
vent, so far as bullion is concerned.

Our esteemed correspondent, Mr. HAMER
STANSFELD, has recently through our columns
directed the public attention to this all-important
subject. With a slight modification of the salu-
tary proposition put forward by the talented
Secretary of the Treasury, before he became a
Member of the Administration ; he suggests the
issue of 30,000,0001. of one-pound notes guaran-
teed by the nation, and therefore offering not only
the same, but even better security to the holders
than the public debt. We say better, inasmuch
as these notes would be available for the payment
of taxes and for every transaction of life, which
Consols are not, under present regulations. The
plan is a good one, whether we are at peace or
at war. It would provide for the expenses of the
latter without difficulty, while, on the restoration
of tranquillity, it would, as Mr. STANSFRLD truly
remarks, " enable the country to get quit of the
taxes on knowledge, and to liberate commerce
still further."

MONEY MA RKE

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool on Saturday were
estimated at 6,000 bales, of which 800 American
and 200 Surat were taken for export and on specu-
lation. The market was tame but steady at pre-
vious rates. The sales comprised 5000 American,
280 Penman and Maranham at 6id. to Bd., 250
Bahia at 61d., 500 Surat at 3d. to 4-id., and 300
Egyptian at 60. to 84d. per lb. Railway Shares
were very firm.
The case of the steamer Demerara, wrecked in
getting out of the river at Bristol, came on for trial
this morning, and a verdict was taken by consent
in favour of the plaintiffs. The remaining assur-
ance, about 9001., will be paid by Messrs. Richard
Thornton, and another party interested. There
have, by other insurers, been already 39,0001. paid.
Accounts from Vienna of late date mention that
a loan was seriously talked of. The amount was
stated at 50,000,000 florins in a 5 per cent. stock.
Foreign capitalists would not be solicited to join, '
the whole amount being expected to be taken in
Germany.
The Prussian Budget for 1854 has been sub-
mitted to the Chambers. The year's receipts are
put down at 107,990,069 dollars, au increase of
nearly 8,500,000 dollars compared with the pre-
vious week. The expenses are estimated at an in-
crease in several departments, and especially in the
army, owing to the dearness of provisions and
fodder.

At Stockholm the royal proposals for a credit of
2,500,000 crowns, about 5 million francs, for the
purpose of preparing for armed neutrality, has been
laid before the Chambers.

The Danish and Swedish Governments have been
informed by England and France that the com-
bined fleets will shortly pass through the Sound.
The advices from New York notice a dull and
drooping stock market. The amount of bullion
exported during the week ending Feb. 10 was
14,000 dots. There was a good demand for foreign
manufactures at buoyant prices, British and Con-
tinental dress goods being most in request. The
Cotton market was quiet. Freights to Liverpool
were firm, but very little was doing. Flour was
in moderate inquiry, at rising quotations.
The Californian News states that the farming
interest had suffered severely from want of rain.
Mining was much improved, owing to a fall of rain,
prior to which, however, operations were almost at
a stand. Some rich diggings had been discovered,
and a silver mine was said to have been opened in
Montevey county. The markets were quiet.
South Pacific accounts vid New York, mention
' that on the 15th December the new tariff received
the sanction of Government at Chili, and would be
in operation on the Ist of February. It had
decreed that bills be drawn on the Chilian agency
in London in favour of the Minister in France for
the sum of 3,689 dols. to be employed in pur-
chasing a chemical apparatus for the colleges of
Santiago and Coquimbo. The British barque
Colinda had put into Valdivia with 260 emigrants
from Vancouver's Island, the crew and passengers
in a state of mutiny. Captain Mills, it is said,
commenced proceedings against the passengers for
compelling him to put into Valdivia against his
will. The Court decided, however, that the
charges were not sustained. A bottomry bond
was wanted to allow of the vessel pursuing her
voyage. The markets at Valparaiso were very
inactive.

There has been a very dull market for English
Stocks this morning, and the Cabinet Council or
meeting of Ministers which took place yesterday at
the Earl of Clarendon's has excited some attention
an curiosity. Among the rumours are that Lord
Palmerston is to be Minister of War, Sir James
Graham, Secretary for the Home Department,
and the Right Hon. Mr. Sydney Herbert, First
Lord of the Admiralty.
The accounts from Austria are still regarded as
satisfactory, but the probability of several new
loans here and on the Continent has a natural ten-
dency to keep down prices. The Turkish loan is
not yet abandoned. Consols have been 911 to 91i
for Transfer, but not high-ar 91k and 91t for
Account. The New 3k per Cents. have realised
92k to 93t, and the 3 per Cents. 911 to 92k. Ex-
chequer Bills are 18s. to 215., and East India
Bonds Bs. to 12s. premium.
Foreign Stocks have ruled rather heavy, and
Russian Five per Cents. have declined to 96 and
95. Sardinian Bonds have been quiet at 83.
Dutch Two-and-a-Half per Cents. are 59k. Mexi-
can Stock has been 24i, /. Grenada Deferred 6/,
and Brazilian New 914. The political crisis in
Spain has caused a further decline to 391 and 38-
in the Three per Cents.
This is making-up day preparatory to the settle-
ment of the share account to-morrow, and prices
are fluctuating for the English railways, being
scarcely up to the highest point of Saturday. The
principal transactions have been in Midland, Cale-
donian, Great Northern, and South Eastern.
French shares are about the same.

LATEST FOR NEWS.

RUSSIA AND TURKEY.

- -
A telegraphic despatch from LSt. Petersburg,
bringing news as late as the 15th inst., says :
Prince Pasliewitsch is appointed to the supreme
command over the Danubian army.
Orders have been forwarded to the Russian fleet
neither to seek nor to avoid a collision with the
allied fleets.

A note published on Friday morning by the
Journal des Debats confirms the news as to the
improved state of feeling between the Austrian
Government and the English and French Cabinets.
The intelligence of the change of feeling manifested
by Austria reached the Cabinet of the Tuileries by
despatches from M. de Bourqueney, which arrived
on the 18th and 19th inst. It remains, however,
to be seen whether Austria will confine her dis-
approbation of the Czar's proceedings merely to
private remonstrances, or whether she will agree
to take active measurei against the aggressor in
conjunction with the Allied Powers. It appears
certain that Austria has received guarantees for
the safety of her Hungarian and Italian possessions
from France and England.
It is also stated that a letter has been received
either from the Prussian Minister for Foreign Af-
fairs by the French Minister, or from the King
himself by the Emperor, making a similar declara-
tion to that of Austria. The letter is described as
stating that, notwithstanding the friendly ties
which united the Courts of Berlin and St. Peters-
burg, it was undeniable that the Emperor of Russia
was completely in the wrong, and that Prussia
would act with the allies when and wheresoever it
may be necessary.

There was a rumour in Paris on Saturday that
the Cabinet of Vienna had declared that, if neces-
sary, it will send an Austrian force to Constan-
tinople to co-operate with the Anglo-French expe-
dition.

see your way, and to avoid treading upon those
unfortunate quadrupeds which lie snoring in the
street, aud upon which it is not pleasant to tread.

FRANCE.

The loan is not yet concluded, but the negotia-
tions are going on with great activity. The Minis-
ter of the Finances is understood to have rejected
the propositions made by Messrs. de Rothschild,
Baring, and Hottinguer, and it is said that the
Credit Mobilier is once more in the field. At the
Bourse it was confidently stated that the whole of
the negotiations relative to the loan were suspended
in consequence of the great difference between the
offers sent in by the bankers, and the terms pro-
posed by the Minister of Finances, and that that
Minister, finding that he could not bring the
bankers to better terms, had determined to nego-
tiate the loan by public tender. It was added that
the Government proposed to give Three per Cent.
Stock at 69f., but that the bankers refused to take
it at more than 65f.
A pamphlet, containing the diplomatic corre-
spondence and other official documents relative to
the Eastern question, has just been published by
the authority and order of the French Government.
It was printed at the Imperial press, and many
thousand copies were struck off, which have been
already distributed in Paris and forwarded for the
same purpose to the departments, in order that the
nation at large may have full knowledge of all that
has occurred. A " historical notice" is prefixed,
and another notice appended as the conclusion.
The first document is the letter of the Emperor
to the Czar.
The Moniteur of yesterday (Sunday) publishes
the following letter from Prince Napoleon to the
Emperor :

" Sire,—At a moment when war is about to be com-
menced, I pray your Majesty to allow me to join the
expedition now preparing. I ask for no important com-
mand, no distinguishing title. That post will seem the
most honourable in my eyes which will bring me nearest
to the enemy. The uniform which lam so proud to
wear imposes duties which I shall be delighted to fulfil,
and I desire to earn the high grade which your affection
and my position have given me. When the nation arms,
your Majesty will, I hope, think my place is amidst
the soldiers ; and I pray you to permit me to fall into
their ranks, to sustain the honour and right of France.
NAPOLEON."
The Moniteur also announces the equipment of
a third naval squadron of 10 ships of the line, 14
frigates, 5 corvettes, sailing vessels and steamers,
under the orders of Admiral Parseval-Duchesnes.
The Moniteur likewise publishes a decree pro-
hibiting the exportation of arms, ammunition,
machinery, warlike stores, (Ix.
This announcement speaks volumes of itself as to
the energetic mode in which the French Govern-
ment is preparing to carry on the war. In a few
days France will have three fleets at sea—the Black
Sea fleet, under the command of Admiral Hamelin ;
the Brest fleet, which has recently gone round from
that port to Toulon and the other Mediterranean
ports, for the purpose of embarking the expedi-
tionary a rmy, and conveying it to its destination
in the neighbourhood of Constantinople ; and
lastly, the fleet now announced under the command
of Admiral Parseval Deschenes, of which the desti-
nation is not yet published, but which it may
safely be stated is to be sent into the Baltic.
In the same journal there appears a circular of
the Minister of Foreign Affairs, indicating to
French diplomatic and consular agents that they
are to protect English subjects and English com-
merce as if they were French.
The India Mail left Marseilles for Paris at seven
o'clock on Saturday evening.
In a report to the Emperor, M. Ducos, Minister
of Marine, says—" Your Majesty desired me to
prepare a third squadron. Your Majesty's orders
are executed."
The subjoined is the despatch to M. de Castel-
bajac, recalling him from St. Petersburg :
" Paris, Feb. 6.
" General--I have the honour to transmit to you, by
order of the Emperor, the instructions which the tenor
of my last despatches may have led you to expect. The
responsive note addressed to me by M. de Kisseleff, and
which you will find enclosed, attributes to his departure
motives which place the Government of his Imperial Ma-
jesty under the necessity of not prolonging the sojourn
of his representative at St. Petersburg. You will,
therefore, on the receipt of this despatch, concert mea-
sures with Sir H. Seymour to hand to Count de Nessel-
rode a note which, confining yourself to alleging the de-
parture of the Russian minister, you will demand your
passports. The personnel of the Russian embassy fol-
lowing its chief, the secretaries and attaches of your
mission will also quit St. Petersburg with you. You
will confine yourself, as M. de Kisseleff has done here
for M. d'Ebeling, the consul-general, to presenting to
Count de Nesselrode M. de Castillon, who will remain,
until further orders, charged with the interests of our
commerce and of our countrymen.
" DROUYN DE LHDYS."
The levy of 80,000 men announced in the Mo-
niteur of Friday, together with the previous levies,
makes in all an addition to the French army of
upwards of 200,000 men within the last two months.
All the efforts of the Government, and of the
heads of the manufacturing establishments had
not been able to prevent a very considerable num-
ber of working men from feting on Friday, the 24th
of February, the anniversary of the revolution of
1848, by abstaining from all kinds of work, and
walking about in the Place de la Bastille. From
ten in the morning a vast number of blouses
continued to flock to the spot, some with crowns
of everlasting in their hands, and others merely
walking about. No military force was to be
seen, but a large posse of police agents in
plain clothes prevented any one from ap-
proaching the column of July. Every person
who thought fit to come forward with a
crown in his hand was arrested, and every one
uttering a cry or making a gesture that appeared
to the police liable to objection was sure to be taken
into custody. The persons arrested were taken to
the little guard-house on the Place between the
column and the canal. When the small building
was full, a picket of gendarmes took them off to
some other large place of confinement. Hisses
were generally uttered when any one was arrested.
The troops, it is said, were held in readiness to act
should there be the slightest appearance of distur-
bance.

The number of persons arrested amounted to up-
wards of 200, and among them were not Republi-
cans, but some Legitimists of the upper ranks of
society. On Saturday morning a considerable num-
ber of the persons arrested on the Place de la Bas-
tille and at the Porte St. Martin, in the act of de-
positing crowns and forming processions, were sot
at liberty. In the departments, and especially in.
the Department du Nord, a great number of pro-
clamations had been seized, signed by the refugees
in London, and addressed to the French army,
calling on the troops to revolt against the Govern-
ment.