The Sun.
London, England, 1853-04-11 00:00:00

GERMANY.

„Yhe president of police has published a notice ex-
rifling and fully justifying his grounds for the
'ssolution of the so-called ” Sick Provident
tin;
i"en." It appears from this document, which is
00
letg to admit of translation, that several of the
coin recently arrested and most seriously
14,bPrr°raised, such as Falkenthal, M.D. ; Levy, a
trine eowt,tradesman ; Goldhammer, a cutler ; and
chairreers, whose names are given, were either
union; tb,a,stewards, treasurers, or officers of the
other brau` the society was the "mother" of sundry
cree, 'hielubs; that, under the mask of benevo-
• 2131°eratie''An- object was the dissemination of
exclusively 'ePublican principles, and its objects
association ;
that the president of the
notoiiees 1.018
It.ll_e ex-common councilman Runge,
that three "-"8 "socialist-communist activity ;"
thal, Ries °I the Principal medical men, Falken-
tious • th ' and Abarbanell, are similarly noto-
abeearu)rrtepeeaar tttehscileveral other trading members have
m
y compromised in political offences ;
h
aVailed themselves
medical practitioners and stewards
ep
rrn t of the mantle of benevolence-to
prov_Pd. and. Pervert the members. It is further
w. 1,0 that there is a large deficit in the caloii
sisc,
for Must either have arisen from mal
ha .Inegitimate purposes, or from h
\ring reduced the entrance-money fart b
e committee
boelookws, ttbhe
members e
Sl'lPUlated amount.• According to
thee,xembers inscribed amounted to some 12,000,
shoe-
,ooo, from
u" different guilds. Among these
1,614 tailors, 240 printers, and 4,180
engine and machine makers. _ The police had not
only dissolved the society, but sequestrated the
funds pro tempore. At the same time care has
been taken that the sick shall receive proper at-
tendance. The numerous creditors will, it is said,
lose their' money, as, from the association not
having had corporate rights, its president and
stewars cannot be prosecuted as a body. Nothing
remains therefore but to prosecute individually,
and for the amount that may be due to each mem-
ber—an endless and fruitless undertaking.
The police and watchmen continue to pick up
arms and ammunition in considerable quantities,
which are thrown into the streets at night by per-
sons who fear that the domiciliary visits may lead
to detection. These arms and ammunition bear
evident proofs. of liaVing" 'been" 'Obtained by or
through the disgraceful plunder of the arsenal in
1848. The Ministerial Zeit says that it regrets to
state that teachers and lecturers at the university
-are more or less implicated in the demagogic plot
recently discovered. It quotes, among others, one
121• Gherke, who was formerly prosecuted and sus-
pended from his functions pardoned and re-
mitted upon MS enturing Liao an express 9gage-
• tto abstain from politicr. M. Gherke has been
again suspended
by order of the so-called provincial
u°°l ecmaraittee. Another lecturer of the same
'adversity Was
charges
of arrested three or four days past on
These latter beingfacts
Whose dut connected with the conspiracy.
eat theit prove that many of the persons
is to abstain from politic, and who
they shall bread of the State under condition that
laws, intehuleate morality and respect for the
avail eine the most
_sm. elves of their position to instil
their pupiiPs icious doctrines into the minds of
The Berlin
e rewards for
ea
gistrates have established prizes
aleT2duce ex 'nts, upon principles calculated
eourvided into cleallent moral effect. These prizes
on the Thus at tssbes,_fer different grades of good
luillinesf29orth lilt'
--etast award which took place
and 44 fe taealltersa
the service of ordinar_
" ibur female servants received pre-
) Who h Y good conduct, andp2e2rimodalines
-iad lived the longest
certificate the same masters with unblemished
The s, received the rewards for that class.
taazina,„„
u▪ neTri
.tulunseyrgcrse of these 66 persons was 28,
The Zeit has the following
Numerous complaints have been made of the treat-
-1 et (behandlung)
to which goods transitory through
Austria were subject. We have great satisfaction in
stating that through the representations of the Prussian
Government, that of Austria has readily adopted mea-
sures for removing part of the evil, and every prospect
exists of the remainder being scoa set aside."
Doctors Abarbanell and Ries (mentioned in the
Police notice above cited as having been well-known
agitators for the subversive party) have published
a refutation of this charge, and declare that they
shall take the necessary legal measures to protect
their honour and rights.
Englishmen, or those of the United States, pro-
Posing to travel in Germany, will do well not to
bring with them, as commonly the case, especially
with the latter, the so-called calabrese, or any other
misshapen hats whatever. If they do, they must
submit to the consequences, which will either be
Police interference or other inconvenience.
The remaining naval stores, arms, ammunition,
and so forth, of the ex-German fleet, are to be
sold by auction at Geestemunde, below Bremen,
on the 18th inst.

BELGIUM.
The installation of the Duke de Brabant, eldest
son of the Ring of the Belgians, as member of the
Senate, took place at Brussels on April 9, with
great ceremony. All the Ministers, high function-
aries, and members of the diplomatic body were
present on the occasion, in grand costume, and the
palace of the Senate was guarded by a considerable
number of troops, to do honour to the presump-
tive heir of the Crown, who has just attained his
majority. The young prince, before taking his
, swore fidelity to the Constitution, and was
then proclaimed a member of the Senate by the
wince de 'Ague.

THE NATIONAL DEBT-RESOLUTIONS OP THE
CHANCELLOR OF THE EXCHEQUER..

-.'G',.--

(Front the Times City Article.

The resolutions of the Chancellor of the Exchequer
regarding the national debt have, upon the whole, been
received in the city with satisfaction, since iu their
amended form they are in a great measure free from the
features which had at first excited alarm. Consols there-
fore have been steady throughout the day at quotations
slightly below those which prevailed when it was thought
there was danger of an improvident bargain for the
country in favour of the fundholder, but sufficiently high
to denote that there is now an expectation of ultimate
advantage for all parties.
From the explanations, the immediate course contem-
pl ited by the Chancellor of the Exchequer can now be
concisely stated. In the-first place, the holders of the
various petty 3 per cent. stocks to the extent of 9,500,000/.
are to be paid off at their own option, either in money
or by the substitution of 821. 10s. Three-and-a-Half per
Cents., yielding 21. 17s. 9d. ; 110/. Two-and-a Half
per Cents., yielding 21. 155., or an Exchequer bond of
1001. for 40 years, yielding 21. 15s. for a certain portion
of that term, and 21. 10s. for the remainder ; such cption
to be determined on or before the 3d of June next. Be•
yond this, as ragards the 500,000,0001. Three per Cents.,
known as Consols and Reduced, the holders are to have
the privilege of changing them for 3i per cent. stock at
the rate of 821. 10s. for every 1001. of the Three per
Cents. to any extent they may think proper. They will
also have the privilege, to the extent of 30,000,0001., of ,l
changing them either for 110/. Two.and-a-Half per
Cents., or for 1001. Exchequer bonds, subject, apparently,
o any diminution of that amount which may arise from
the holders of the 9,500,0001. that are to be paid off
having previously accepted these securities, the total
issue of each of which is not to exceed 30,000,0001. The
time allowed for the latter operation—that is to say, for
the conversion of Consols and Reduced—is to the 10th
of October next. While the general scope- of the
plan is thus specified, there are several points of
detail on which, for the benefit of the public, the Chan-
cellor asks a discretionary power, in order that he may
ultimately make the best practicable bargain. For in-
stance, the period during which the Exchequer Bonds
are to bear 24 per cent. is not to exceed 10 years, but in
the proposals for their issue that term may be shortened,
if it should been found expedient, and the Government
may also arrange to reserve to themselves the power of
paying off these bonds at the end of 40 years, or of con-
tinuing them at 21 per cent. With regard to the mode
in which the persons desirous of changing Consols or
Reduced for such portion of the Two-and-a-Half per
Cents, or of the Exchequer Bonds as shall remain after
the holders of the 9,500,0001. of the petty 3 per Cents.
shall have made their selection is to be effected, the
Chancellor proposes that the power shall be left to be
exercised by the first corners, and that the books shall
be closed as soon as the limit of 30,000,0001. shall have
been reached. This, however, may be found highly
objectionable, since, if the number of applicants should
be such as to desire 40,000,0001. or 50,000,0001. instead
of 30,000,0001., the result would be a mere scramble.
As it stands, however, in its present modified state, all
violent objection to the general scheme has evidently
subsided, and, while its main features are regarded with
satisfaction, there is also a confident feeling arising from
the disposition manifested by the Chancellor to avail
himself of such rational views as public discussion may
bring forth, that it will assume a final shape, such as
will meet the approval of most persons. At the same
time the idea of sanctioning the creation of any form
of stock that will ultimate increase the nominal amount
of the debt, even although on a limited scale, is
regarded with unconquerable aversion. From the
first the fact was recognised that the contemplated
reduction .of interest would, if the saving were
applied to a sinking fund, return far more at the end of
40 years than the 101. additional principal proposed to
be created, and likewise that, the security being an an-
nuity, and not a debt which can be claimed, the chief
point both for present and future generations to consider,
supposing that there is no hope or intention of wiping
it off, is to look, not at the amount of the principal, but
at the annual payment which it involves. The public,
however, with great propriety, are indisposed to sanc-
tion anything that shall look like a declaration that the
capital is never intended to be paid, and, however
distant and difficult the prospect may be, they would
be pained to witness any step that should cause it
to appear more impracticable than ever. They are
aware, moreover, that there are methods by which
so long as the creation of stocks at a low rate
of interest is avoided, the extinction of the national
debt, although it may take centuries, can still be
rendered certain, and that in one part even of the
Chancellor's present plan an illustration of this fact is
furnished. He proposes to create a Three-and-a-Half
per Cent. Stock, which will effect a reduction of 171. 10s.
in the principal of the debt, and become liable to be paid
off at par at the end of 40 years. When that period
arrives the Minister of the day may offer the holders a
still smaller amount of stock, upon condition that they
shall be again exempted from the dread of reduction for
a further term ; and this process might go on at inter-
vals of 20, 30, or 40 years, until our liabilities had
dwindled to a point at which their payment, even in
money, would not be difficult. With the creation of
a Two-and-a Half per Cent. Stock all reasonable
hope of any such consummation is removed. Some
persons appear to think that the rate of money
is to go on declining, and that it will at a
future day be as easy to reduce Two-and-a-Half
per Cents, to Two per Cents. as it would now be
to convert Three-and-a-Quarter per Cents, to Threes ;
but this is merely a result of the fallacy that the gold dis-
coveries are to have some wonderful effect on the rate of
interest. Inasmuch, however, as the only alteration
they can produce in that respect will be by opening up
new countries, so as to increase the profits of commerce,
and render the use of capital more valuable, whatever
influence they exert must be exactly in an opposite di-
rection. Under these circumstances the public will still
regret that the creation of the Two-and-a-Half per Cents.
has not been altogether expunged from the scheme,
leaving the proposed Three-and-a-Half per Cents. and
the Exchequer bonds to be fairly tested. With the pre-
sent option the state of feeling as regards the Three-and-
a-Half per Cents. will not be tried in any way. A
belief prevails that in the absence of a more attractive
alternative they would have been taken to a con-
siderable extent, and so strongly is the tide of
opinion in favour of this mode of conversion, that it
would have been desirable to improve the terms rather
than to substitute any other system. As regards the be-
lief that the Chancellor has been premature in propos-
ing any alteration, and that by waiting a little while he
might have done much better, it is to be remarked, that
there is little to warrant such a conclusion, since the in-
creasing multitude of new companies brought out every
week, together with the thrc yt of one flagrant foreign
loan, if not of several others, shows that the public, after
exhibiting for years a childish timidity from which no-
thing could arouse them, have embarked on a tide that
will prevent all prospect of a renewed glut of money,
and must some day end in severe pressure. If they
would be content with the things they have already un-
dertaken, there would be no danger but, although these
should be considered sufficient for the next two or three
years, they will go on every day adding to them in an
increasing ratio until they have contrived to bring dis-
credit upon the whole.
The quotations of-Exchequer-bills to-day were again
merely nominal, and doubts increase as, to the possibility
of their maintaining their position. At the same time,
however, there is much misapprehension as to the degree
in which the contemplated Exchequer bonds are calcu-
lated to compete with them. Many persons speak as if
there were scarcely any difference between them, ex-
cept the difference of interest, but the fact that one
is always redeemable within twelve months, and
that the other to be for 40 years, is a distinction
sufficient to show that while Exchequer-bills consti-
tute an excellent banking security, the bonds, ex-
cept in very small amounts, can never approach to
that position. Apart from the higher rate of in-
terest, however, there are so many facilities con-
templated in the new bonds, such as the half-yearly
coupons, the absence of any necessity for sending
them in to be renewed, and probably the arrangement
for the interest being payable at the branches of the
Banks of England and Ireland, as well as at the head
establishments, that unless some new inducements are
given to the holders of Exchequer bills, the temptation
to prefer the bonds will, perhaps, under almost all cir-
cumstances, prove too strong. In a great measure the
difficulty might be met by restoring to Exchequer bills
the especial value they possessed as a banking security,
when they were at all times receivable for the payment
of duties. Some years back this feature was altered,
and the value of the bill weakened for no useful
purpose whatever, since, by giving notice of an in-
crease of interest, any inconvenient tender of them
could be at once stopped ; and, if the step were now re-
traced, it would be an advantage both to the Govern-
ment and to the mercantile community.

.. AUSTRALIAN MAIL CONTRACT.—The Royal Austra-
11aeneMail Steam Company have received notice from
liveredigata
th_oovernment of the withdrawal of their contract.
morning FOR CONSUMPTION, BaomrroN.—Yesterday
Carlton
the ,revereenffdee'gMeeli
St:
in aid of the above charity was de-
Lan. Mark's Church, Kennington, by the Rev.
the afflicted of aDuring a very eloquent discourse,
gentleman gave a variety of statistics of
the good
every district of
by the institution, not merely among
singletbe portion of the metropolis, but of
a United Kingdom. Kpaintigednotms .bavTinhge
peculiar
was established for
which had marked thee
claims upon the benevolent.
commencement, and theaerof the institution since its
The careful management
facilities afforded for the treat-
menti rendered the hospital
of a most trying malady,
one of the most important i had
country. A liberal
collection was made at the conclulesniton of divine service.
suannideertbaenkeenvotleo preside over the ofan-
niversary n
Westminster
f t
hashe
cause, the Marquis
in June next.
LAUNCH OF THE ELFIN 'WOOLWICH STE_Am.pAcKET.
—The directors of the Woolwich Steam-Packet Com-
pany, in order to keep pace with the improvements in
steam-packet construction, have had another fast boat
built by Mr. Thompson, at Rotherhithe, added to their'
little fleet of fast river steamers. At 20 minutes before
two o'clock on Saturday last, the directors, with their
friends, proceeded from Woolwich to the Commercial-
dock, and shortly after three o'clock the ceremony of
christening the new vessel was performed by Miss Col-
lins, a 'granddaughter of one of the directors, and the
Elfin glided into the water amidst the cheers of the nu-
merous spectators of the scene. Mr. 0. W. Lang, as-
sistant to the master shipwright at Chatham dockyard
from whose design, similar to those of the Dryad fast
steamer, the Elfin was built, was present, and the launch
took place to the entire satisfaction of all present. The
Elfin is to be fitted with the engines formerly used in the
Ariel, and it is expected she will prove one of the fastest
• boats belonging to the company.

THE SHARE MARKETS.

184
100
1°L14?l
all
all

BRITISH RAILWAYS.

RAILWAYS.

291 30}
6
91 101
7A 6Ad
21 —22 d
3A 2Ad
104 105
63i 644
21if 221
19 20

Closing Prices Business done
this day. this day.

all
11t
100

2 - 3 pm,

8 - 9

- 51
13 • - 13/

10 - 11

74- 7i
73 - 75

55 - 57
73 - 75

32 - 34
62 - 64
83 - 84
47 - 49
123 -125

108 —lO9
911 -- 92
6f -- 7i
92 -- 94
13 -- 13Ap
76i -- 77
44 -- 4A d
3A -- 3 d
16 -- 161

29i i
5i 6i 5i

1041 f
64i i d
22i
198 i

47i 8 7i

J 1
13 i i