The Sun.
London, England, 1854-04-05 00:00:00

MONEY MA RKE T

AND
COMItTERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated- at 5,000 bales, including 500 Ame-
rican taken for export. The market closed steadily
at previous rates. The sales comprised 4,200
American, 50 Bahia, at 61d. ; 50 Egyptian, at
6d. to Bd. ; and 400 Surat, at 22d. to 4kd. per lb.
Railway Shares were dull at rather lower prices.
A very large amount of duties is being paid upon
tea, the reduced impost coming into operation to-
morrow. One firm has 30,0001. to pay on this
account to the Customs authorities, and owing to
the very small quantity of tea cleared recently,
and the low stocks held by the dealers, there will
be large sums accruing to the revenue. A petition
has been presented to the Customs, praying that
the officers May attend at the warehouses as early
as six o'clock to-morrow (Thursday) morning, in
order to facilitate the deliveries.

The probability of a great falling off in the supply
of labour in Australia had begun to excite earnest
attention at the date of the last advises, and it was
already a matter of general complaint that the
ships were arriving with scarcely any passengers on
board. The causes are touched upon in the Mel-
bourne Argus, and the following remarks, we be-
lieve, give a fair representation of the condition
and the prospects of new comers
" The labour question—which every person was
willing to believe would be finally settled by the gold
discovery—is again becoming just as pressing as before
those discoveries were made. That the representations
of failure we have referred to have been somewhat over-
done, will, we think, be granted by every new comer who
has got over his colonial novitiate of 3 or 4 months. It is
in the very nature of colonial life that all the exasperat-
ing difficulties of it should confront a newly arrived im-
migrant at the very outset ; and this inseparable condi-
tion has been aggravated by the peculiar state of things
to which the gold discovery has given rise. But let a
man struggle onward for a while—let him only be con-
tent to endure and to work bravely for a year or two,
and how different an aspect does his career wear
then ! The difficulties which at first appeared
insurmountable have vanished, and he sees before him
a comparatively short and easy road to independence.
We appeal to any industrious colonist of only 12 months'
standing if that be not a correct statement of " colonial
experience." But if it be so, how unjust both to the
individual and to the colony is it, for a person newly
arrived to send home an account of every temporary
trial and inconvenience he has experienced, as a correct
representation of colonial life throughout. As reason-
ably might an invalid, who has just set out on a voyage
which is to be long and agreeable, and also the means of
restoring him to health, insist upon describing the first
few days of nausea and bad weather as a fair specimen
of the entire voyage. It would be well if new corners
would defer sending home their impressions of the colony
until they had had time to verify or correct them. Seri-
ous injury has been done by these premature complaints,
both to the colony on the one hand, and on the other,
to many persons who have been deterred by them from
emigrating, and to whom emigration would have been a
real benefit."

The communication received by the Committee
of Spanish American Bondholders from the Mi-
nister of Finance in New Grenada, is more apolo-
getic than we like to see where honest intentions
exist ; but still we hope that, as that functionary
has given, apparently, some attention to the
matter, he will show that he really appreciates the
honour of his country and the rights of the English
creditors.'
There was yesterday afternoon a downward ten-
dency in the rates for foreign bills of exchange,
and this will probably keep up specie remittances.
Nearly all the gold received from Australia this
week has been purchased for the Continent. The
silver received by the Solent steamer is not yet
delivered.

The English Stock Market continues firm, but
there is only a limited business doing, in the ab-
sence of any important news from the seat of war.
Consols have been 863/4 to for transfer and time.
Exchequer Bills have been marked par to 3s. pre-
mium, and India Bonds 6s. to 12s. premium. The
feeling in the market is decidedly better, and the
gold received lately from Australia proves accept-
able, in affording a means of remittance to the Con-

tinent. From the engagements entered into between
the 0 ttoman Government and England for supplying
our troops, the former will be empowered to draw
largely upon the English treasury at short and
stated intervals, consequently we must expect
specie to be constantly in demand for that quarter.
Foreign Stocks are dull, but well maintained.
Spanish Deferred have been at 164 to 17. Peruvian
Three per Cents. have been marked 38 without the
dividend. Russian Five per Cents. are at 90.
Dutch Two-and-a-Half per Cents. have been very
firm at 541. Sardinian Stock is worth 731.
The market for Railway Shares has been very
firm, with moderate transactions. The English
lines dealt in are the Caledonian, London and
North-Western, North British, and the York and
Berwick. French Shares are a little dearer, but
with scarcely any business doing.
The Mining shares have been at about the pre-
vious rates, with bargains in one or two of the
Gold Companies.
The shares of the Joint-stock Banks have been
at full prices, and also the Land Companies'.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(Prom the Official List.)
liminess (inns.
3 per Cent. Consols Annuities B6g 7
India Bonds, £lOOO .
Ditto' under £lOOO l2 6 p
Consols for Account 18th April B6 7
Exchequer Bills, 2d.
£1000
£5OO 2 3 p par
Small 2 3 p par
PRICE OF FOREIGN FUNDS THIS DAY.
Erazilian Bonds, 5 per Cent. 9l 2 z d
Ditto Small
Peruvian 3 per Cent.
Russian Bonds, 1822, 5 per Cent. £ St 9O 89
Ditto for the Account 914
Did) 4A per Cent 79
Sardinian Bonds, 5 per Cent 73i
Spanish New Deferred, 3 per Cent. l7 16i
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Gail 541
Ditto 4 per Cent. Certifieates .
THREE O'CLOCK.
Consols B6i 7
Ditto April Account B6l 7

CROXTON RACES.

(THIS DAY.)

(BY ELECTRIC TELEGRAPR.)

GOLD CIIP.

Gerard

EPSOM RACES.

(BY ELBOTRIO TELEGRAPH.)

ARRIVALS.—Adine, Jouvence, Invasion, Conspiracy,
Calliope, Madame Landeau, Lysisca, Novice, Humboldt,
Ariosto, Rataplan, Muscovite, Jujube, Stamford, Daisy,
Jonathan Martin, Vingt-un, Royalist, Mortimer, f. by
Confederate, Red Drop, c. by Orlando, Orestes, Little
David, Hunca Munca, Prime Minister, Brother to Grey
Tommy, Seaweed filly, Eva, Inder, Phoenix, Empire,
Pollard, Pantomime, Haco, Mayor of Hull, St. Clare,
Gamekeeper, Caliph, Shakespeare, Brother to Twinkle,
Katerfelto, Congreve, Heriot, Orpheus, Phrygia, and
Roebuck.
The course is hard.

ENORMOUS COMPENSATION.-The following statement
is taken from a return just presented to the House of
Commons ; we mention the authority, because it is a
statement which would seem almost incredible if the au-
thority were not unquestionable. The four persons
whom we are about to name were formerly sworn clerks
in Chancery ; that office has been abolished, and they
have been appointed to the newly-created office of
taxing-masters instead ; but compensation has been
awarded to them for their transfer to a less lucrative,
though still fairly paid, situation. Since the year
Mr. Mira Wainewright,
1842, when the
.aet
has received 22,0271. for the- salary el his new office, and
44,057/. for the loss of the old ; in all, for salary and
compensation, 66,084/.: If he. should cease to hold
office as taxing-master, he is to have 4,5001. a-year
for life. -The sum of 2,2501. a-year is to be paid to
his representatives for • seven years after his death. '
Mr. Georgs Gatty, in the same period, has received
for salary and compensation 68,8111. ; on ceasing
to be taxing-masteri he is to have 5,424/. a-year
for life, and for seven years after his death his per-
sena' representative is to receive 2,7121. a-year. Mr.
Richard Mills has received in the same period 72,476/. ;
his compensation on ceasing to be taxing-master is to
be 4,9351. a-year, and the seven years' annual pay-
ment 'to his personal representative is to be 2,467/.
Mr. Henry Ramsay
Raines has received in the same
period 79,343/. ; on ceasing to be taxing-master he
is to have 5,4031. a year, and the seven years' payment
after his death is to be 2,7011. a-year. Since 1842 these
four persons have received from the public funds 76,1081.
for salaries for the work they have been doing, and
210,6071. besides for compensation for the loss of their
former ofAce.