The Sun.
London, England, 1853-10-15 00:00:00

LONDON, SATURDAY, OCTOBER 15, 1853.

The Bears are playing a reckless, almost a
desperate, game. They have exhibited, and are
exhibiting, an unbending determination, an inflex-
ible resolution, which, in a better cause, would
merit the highest praise. Unfortunately, how-
ever, we can no more admire the firmness and
courage, the objects whereof are to depreciate the
national credit, to reduce the value of the public
funds, and materially increase the loss to the Ex-
chequer consequent on Mr. GLADSTONE'S brilliant
financial experiment, than we can applaud the
audacity of burglars and highwaymen, who like-
wise display activity and skill in their perilous
vocations. There can be no doubt which is the
most mischievous member of society—the Bear or
the Burglar. A howilebreaker may plunder the
widow and the fatherless of their ready money
and valuables, but the scenes of his exploits are
necessarily limited. A few families only can suffer
through his misdeeds. The extent of the damage
which he can inflict will not at the utmost exceed
a few hundred pounds, and when he has obtained
his booty he has to abscond from the public gaze,
to hide his diminished head from the hue and cry
instituted, and the rewards offered for his appre-
hension. But the energetic and thorough-paced
Bear, if he succeed in his iniquitous manoeuvres,
plunders many thousand families, robbing the
widows of their substance, and taking the bread
from the mouths of helpless orphans. Nor has
he to shrink from the public view, or to conceal
the amount of his ill-gotten gains ; on the con-
trary, the larger his profits, the more proudly he
struts on 'Change, admired and envied by less
fortunate speculators.

The objects of both—the Burglar and Bear—
are very similar. Each desires to put his money
into his own pocket at the expense of his neigh-
bours, and is by no means scrupulous as to the
means by which his wishes may be accomplished.
But although the " morality" of the one is scarcely
less questionable than the other, the results are
very different indeed. The gallows or the hulks
are the fitting recompences awarded to the less
dangerous of the two. A villa in Herts or Surrey,
a mansion in Portland-place, and a seat at the
civic banquets, and possibly on the direction of
prosperous companies, are the rewards achieved
by the other.

Let us not be misunderstood. We conceive
that any man who is the actual bona fide posses-
sor of stocks or shares of any description is entitled
to sell them for any price, however inadequate,
that may be offered. We may deplore the
folly, but we cannot impeach the integrity of
such a person. He " may do as he will, with
his own " But the mere speculator for a fall—
the man who without having a single pound's
worth of stock, or a solitary share, contracts to
deliver that which is not in his possession, and
which he must himself purchase at a depreciation
in order to obtain a profit by the transaction--
the mere " Bear" in fact—has no possible grounds
of excuse that may not be put forward on behalf of
the swindler or thief. It is only by reducing the
quotations that he can possibly succeed, and, un-
fortunately, when such a temptation is held out,
we cannot feel surprised at the lengths to which
the " gamblers " who have staked their all, or
possibly more than their all, on the result, pro-
ceed. It is not too much to say that lying and
slandering, backbiting and calumniating are freely
resorted to ; that there is the circulation, if not
the invention, of fictitious rumours, well knowing
them to be false, or, what is scarcely more ex-
cusable, the wilful exaggeration of matters having
some trifling foundation in fact—the swppressio
yen and the suggestio falsi—all, in fact, that can
excite the apprehensions or injure the property of
the parties really interested. It may be
" sport " to the Bears, but it is death
to their victims. And when we consider
that these victims are the national creditors, or
those who have taken shares in great public under-
takings. We feel that they have a right to com-
plain that enactments are not framed adequate to
abate the nuisance, and that those which are still
nominally in operation have been suffered to be-
come obsolete—mere scarecrows of the law that
have become the sport and not the terror of the
offenders.

Let us now look to the actual state of affairs,
from which we may in a moment discern the criti-
cal positions in which the ursine fraternity are at
present placed. We find it stated that—‘c For
the accounts the quotations throughout the day
were lower than those for money ;" and also,
" that some large deliveries of stock were conse-
quently made upon very advantageous terms, the
accounts being bought back for the 10th of Novem-
ber at a price that will yield a profit, while not
only will the natural interest of the stock accumu-
late in the mean time, but interest will bo gained
from the deposit of its proceeds with the Joint
Stock Banks or discount houses." We also learn from
the same authority, that there was " a continuance
of purchases on the part of the public, and a great
scarcity of stock in connexion with the settlement."
The same might be asserted of the share market,
and, in fact, on both stock and shares there was
what in Capel-court parlance is termed a " back-
ardatiou" of about 4 per cent., or, in other
words, parties
who ;mid lend stock to the ope-
rators for a fall, not only had its money value
deposited in their hands ; but, besides having the
use of the money for nearly a month, received
10s. per cent. more than
per cent. per annum
for accepting the loan.
This simple circumstance
shows the desperate
if bond
condition of the Bears. It proves that they have
speculated beyond their means, and that
fide holders be only true to themselves, they must
speedily disgorge a considerable portion of their
unhallowed profits. They must buy back the
stock that they have borrowed for a time ; must
give the price that holders may demand. If that
simple fact be borne in mind, all will be right.

A prudent resolution will save the public from
the snares of the spoilers. Those, however, who
lend stock, should consider the effect of their pro-
ceedings. In order to make a trilling profit of
10s. per cent., they prevented a general rise of 2
or 3 per cent., in which they themselves would
have participated. They supplied weapons and
munitions of war to their adversaries, and must
not feel surprised at their being turned against
themselves. They are now warned, and should
not commit a similar error on future occasions.

The Chancellor of the Exchequer is unques-
tionably a brilliant and effective orator. He
possesses a quick and ready eloquence, with very
acute reasoning and argumentative powers, which
enable him for the time being to put forward
fallacies under the most plausible aspects, to seize
on and expose the weak points of his adversaries'
case, while he skilfully conceals or slurs over
those where lie is himself liable to attack. It
may be said that he so arranges his facts with
respect to the matter under discussion for
the time being, that he leaves nothing requir-
ing notice untouched, while he seldom if ever
falls into the error of expatiating at any length on
unnecessary or damaging topics. He is equally
free from rhetorical mistakes of omission or com-
mission, and it is not, perhaps, too much to say
that, if he be not the most skilful debater, he is,
at least, the second in the Cabinet of all the
talents. There is, however, one grievous fault to
which he is peculiarly liable, and which materi-
ally impairs his efficiency as a Statesman. He is
too entirely wrapped up in the topic of the mo-
ment—too completely absorbed to regard any-
thing but the temporary triumph. He therefore
frequently makes admissions, and puts for-
ward arguments, which may be used against
himself with tremendous power on other and
more important 'occasions. No man has been so
often confuted out of his own mouth, for none
have made more inconvenient disclosures, or
what is vulgarly but expressively termed " let
the cat out of the bag," more frequently than
himself.

During his recent ovation at Manchester the
Right Honourable Gentleman has again com-
mitted himself on a very important ques-
tion. He has made revelations respecting the
fiscal policy of last Session which, if made while
the Budget was yet under discussion, would,
notwithstanding the remarkable subserviency
and tergiversation of persons facetiously denomi-
nated " independent Members," would probably
have led to the failure and rejection of the entire
fiscal scheme. Our readers will remember the
credit taken for the intended total abolition of
the iniquitous Income Tax in 1860. How the
ABERDEEN organ trumpeted forth the total ces-
sation of that obnoxious, because unfairly assessed,
impost, and demanded support for the inimitable
measure of financial ability which provided for
that great desideratum, ! For that great purpose
Parliament was required to renew the ini-
quitous charge, unchanged and unmodified,
with all its abominations for seven in place of
three years. To achieve that object financial re-
formers were called upon to relinquish all their
well-considered objections—to sacrifice their cha-
racters as public men, for that they were t 3 vote
the succession duties to carry every crotchet of the
brilliant financier, lest the project which guaran-
teed the removal of the Income Tax in 1860 should
be in any degree prejudiced. We appeal not
merely to fiscal and financial reformers, but to
every unprejudiced and disinterested person, no
matter of what party, whether that was not the
understanding on which the bill for the renewal
of the Income Tax was carried—whether Par-
liament, or at least the party of which the Right
Honourable Gentleman was the representative,
could have been more firmly pledged on any point
than it was to the total abolition of the Income
Tax in 1860 ; that is to say, unless some urgent
and unlooked-for pressure should arise in the in-
terval that might render it impossible to sur-
render so important and so productive an item on
the ' credit side of the National Balance-
sheet. In vain we uplifted our warning
voice —in vain we inquired whether it
was just or reasonable that the then representa-
tives of the people should legislate for their suc-
cessors seven years hence ? Whether they could
feel themselves justified in arresting the further
development of the wise and beneficial policy en-
tered on under the auspices of the late Sir ROBERT
PEEL, and to which a largo majority of their
numbers had pledged themselves in the most so-
lemn manner ? The prudential cautions were,
however, disregarded. General reliance was
placed on the implied, if not the express, promise
given by the Right Hon. Gentleman, on the part
of the Joint-Stock Administration, and all
remonstrances were despised by people ready
and willing to be deceived. The result is known.
The budget was carried in its integrity (or rather
want of integrity 0, and the unmodified Income
Tax was submitted to for seven years, because the
nation was then to get rid of it for ever.

The Corporation of Manchester adopted this
view of the subject, and in their recent address
they referred to this matter in distinct, unequivo-
cal terms. Mr. GLADSTONE has, however, at
length—and when it is too late to act on the
knowledge thus acquired uplifted the veil. It
is no longer necessary to keep the people in dark-
ness—and therefore the delusion, under which they
have so long laboured may be dispelled, and the
mists dispersed. Accordingly we find the Right
Hon. Gentleman using the following language on
Wednesday last, in answer to the various ad-
dresses poured on him from various bodies in the
manufacturing metropolis. He said :
"There is one reference in the address of the corporation
that I must briefly notice. It is stated here that we have
re-enacted the income tax with the clear and distinct un-
derstanding that at the expiration of the renewed term
for which it is imposed such taxation was to be repealed.
Gentlemen, in a very few words, I will state to you how I
consider that matter stands. lam myself not particularly
anxious respecting the income tax, on this ground, that it
is impossible to reconstruct it, and it being impossible
to reconstruct it, a sense of injustice and inequality
on the part of the public attends its operation, though
the people of England may be found willing to accept
and submit to it, either to attain a great object of
public good, or to ward off a national danger ; but it
is not well suited, I think, to form part of the ordinary
system of taxation. But, in regard to what Parlia-
ment may have done respecting it, it would be in-
effectual, it would be ludicrous on their part to bind
the Parliament of 1860. The present Parliament have
done no such thing. What they have done is this—
knowing that a promise at present for the removal of
the income tax would be delusive, and would form part
of that system of public imposture which, I hope, will
never be admitted into the government of this country ;
namely, a system of conducting public affairs by
promises instead of by performances—knowing that we
never asked Parliament to bind a future Parliament
to the repeal or continuance of the income tax—we
asked Parliament to adopt positive measures for the
reduction of the income tax in the time that is to
elapse between 1853 and 1860, and likewise by drawing
from another source—namely, the succession tax, mo-
ney, which might, in some considerable degree, replace
the reduction of the income tax, we asked them, by
adopting this measure, so to reduce the amount of the
income tax, and shape the other financial resources of the
country, that in all human probability, and barring the
calamity of a general war, that when the year 1860 shall
arrive, the Parliament of that period may be able to do
what .no Parliament since 1840 has been able to do—
that to exercise freely an unbiassed judgment on the
question, whether there. is to be an income.-tax or no
income tax. That is what we have done, no more and
no less : we have eriablegi the people of the country to
say, by their representatiVes—to say, at a certain time,
whether they will part with the income tax, or whether,
which, for my part, I hope they will not, they will con-
tinue it as part of our ordinary system of taxation."

Now this is placing the matter in a new and
et was
cunexpectedunder
light.e r n er Ir
ot
nperoouvse sa
nt that
shtea
kßeund
impres-
sion, if not by " false pretences," by somethingio ,
not very far removed therefrom. If Mr.
question,
e
GLAD-
STONE did not deceive the people, he suffered them
to deceive themselves. Had lie been as explicit
in April or May, as in October, the
would now, in all human probability, rest on a
very different foundation. Let fiscal reformers,
however, profit by the tardy information thus
obtained, and organise a judicious agitation to
obtain a repeal of the unfair and unfairly obtained
Act of last session. After all, the ovation of Mr.
GLADSTONE, puerile and ridiculous as it appeared
to be, may be of some advantage to the commu-
nity if it frees and purifies their vision, and en-
ables them to discern the truth Qn this all-
imPortaza subject.

MONEY MARKET ( BRAZILS AND RIVER PLATE.

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, including 1,000 taken
for export and on speculation. The market closed
steadily. Railway shares were firmer.
The statement of the Bag. of England for the
week to October 8 is not so interesting as former
returns have of late been, but on this account pre-
cisely, it is the more satisfactory, the changes
having been less important. The repayment of
loans made during the " shutting " of the transfer
books, and the running off of bills, had caused a
diminution of other securities, but this caused no
increase in the assets of the Bank, as parties
seemed to have lessened their balances, in order
to meet the payments. Duties, likewise, would
be falling due about this time. The Government
account had slightly increased. The circulation
was steady, and there was a larger reserve of notes
and coin. The Australian gold that has been coin-
ing in will have conduced to this, but as the foreign
exchanges are declining, and grain is arriving more
freely, the renewal of bullion shipments to the con-
tinent is to be anticipated. There will, on the
other hand, be steady receipts of gold from Aus-
tralia. Compared with the previous week, the
changes are as follows :

Active circulation £22,840,565

Increase 67,190
Bullion 15,749,089
Increase 136,527
Rest
Increase
Public Deposits 6,857,398
Increase
Other Deposits
Decrease 246,878
Seven-day and other Bills 1,453,952

Increase
Government Securities No alteration,
Other Securities 18,941,549
Decrease 183,250
Notes unemployed 6,361,900
Increase 103,380

There was a retrograde movement again yester-
day afternoon in the rates for bills of exchange
drawn here upon the continental cities. Paris, 90
days, was taken at 25, 32i to 35 ; Hamburgh, at
13, 6/ to 7 ; Amsterdam, at 11, 18-i to / : Frank-
fort, at 120 to ; and Trieste, at 11, 16 to 20.
The amount of gold exported from London in
the week to Thursday las:, was 24,727 ounces, and
of silver 81,156 ounces, all to the continent.
The Bank of France monthly return shows a de-
crease of 72,000,000 francs in the bullion, compared
with the previous statement.
The funds have been firmer this morning, with
a limited business doing. Consols have been quoted
92,1 to for transfer, and 91k to 921 for account.
Exchequer Bills are is. to Bs. premium, and India
Bonds 3s. discount. The New 3/ per Cents. have
been 93 to g, and the 3 per Cents. 91i to 9142.
Bank Stock has been firm at 218 to 220.

Foreign securities are all rather better. A pro-
position has been received from Grenada for an
arrangement of the debt, but the particulars have
not transpired. The Deferred Stock has been at g.
Equador have risen to sg. Brazilian 41 per Cents.
have been at 96 ; Chilian 6 per Cents. at 101 to ;
and Peruvian at 72. Russian 41 per Cents. are
worth 9n ; and Dutch 4 per Cents. 93.
The Railway Share Market is improving steadily,
the advance being about per cent. in the English
lines. French lines are decidedly better, Lyons
having touched 26k R. Luxemburg are in request.
The Gold Mine Shares have been supported,
though dull.
The Shares of the Land Companies have been
steady, but those of the Banks aro rather duller.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Oficial List.)
Business done.
Bank Stock

t per Cent. Reduced Annuities ... 91i -4-
3 per Cent. Consols Annuities 924
New 31 per Cent. Annuities 93A g 3
India Bonds, 21000 .
Consols for Account
Exchequer Bills, 2d.
£l000
£5OO 8 4 p
Small 8 4 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per tent
Ditto New, 1852, 41 per Cent
Chilian Bonds, 3 per Cent.
Danish Bonds, 1825, 3 per Cent B3
Equador Bonds
Grenada Bonds, Deferred'
Peruvian Bonds, 4i per Cent. 72
Ditto Deferred, 3 per Cent 5l.
Russian Bonds, 1822, 5 per Cent. £ St
Ditto 41 per Cent 97i
Dividends on the *hove payable in London.
French Routes, 4.3 per Cent.
Dutch Exchange, 21 per Cent. 12 Guil —
Ditto 4 per Ceut. Certificates
TIFO O'CLOCK.
Consols
Ditto October Account 92 4

LLOYD'S SHIPPING.-(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)

SOUTHAMPTON, SATURDAY.
Tho Brazilian mail has arrived by the Tay. Her
latest dates arc—Buenos Ayres, Sept. 1 ; Rio de
Janeiro, 14 ; Pernambuco, 22 ; Vincent's, 30, and
Lisbon, Oct. 10.

The Tay brings 68 passengers ; specie and jewel-
lery to the amount of 6,5321.; besides a usual cargo
of cochineal, ipecacuanha, tapioca, &c.
At Buenos Ayres, business had once more a fair
start. The accounts from the rural districts con-
tinued pacific and perfectly satisfactory.
It was reported that Lagos and a few others had
received orders to quit the Rosario.
The treaty of Urquiza with the Ministers of
France, England, and the United States, virtually
depriving the province of Buenos Ayres of its Le-
gislature, and recognising possession of the island
of Martin Garcia, as a guarantee for the free navi-
gation of the rivers Parana and Uruguay, had just
been published. The Government of Buenos Ayres
had protested against the right of Urquiza, to enter
into such arrangements, and triumphantly de-
nounced the illegality and informality of the whole
proceedings.
Bills on England were 665. per doubloon ; highest
rate of exchange, 665. 6d. per oz.
At Rio business was dull. Exchange realised
on English bills from 60 to 90 days' date, 28 to
281 ; French, 345 to 355.
At Lisbon all vessels from England were sub-
jected to quarantine. Exchange on London rea-
lised 54/ for bills at 90 days' date.
With the Peninsular mail the Iberia had been
detained at Gibraltar by quarantine. She was to
leave Lisbon shortly after the departure of the
Tay.

LONDON, Oct. 15. Wind this day at Noon, S.W. ;
light breeze, and cloudy weather.
PLYMOUTH, Oct. 14.—Wind, N.W. Arrived—Zephyr,
Dominica.

SOUTHAMPTON, Oct. 14.—Wind, S.W. Sailed—Lady
Jocelyn, Cape of Good Hope ; Lady Peel, Geelong.
FALMOUTH, Oct. 14. —Wind, N. Arrived—lmmanuel,
Newport, for Hamburgh, leaky.
HARTLEPOOL, Oct. 14.—Wind, W.S.W. Arrived—
Elizabeth, of Shoreham, after being in contact with the
Golden Grove, off Folkestone.
GLOUCESTER, Oct. 14.—Arrived—Amalia, Onega.
POOLE, Oct. 14.—Wind, N. Sailed—Aglae, Newfound-
and.
SHIELDS, Oct. 14.—Wind, E.N.E. Sailed—Admiral
Rousson, Calcutta ; Gustaf Adolph, Rio Janeiro.
NEWPORT, Oct. 14. Wind, N.N.E. Arrived—Charles
Walton, London, for St. Thomas ; General Bary, Liver-
pool, for New Orleans.
FLEETWOOD, Oct. 14.—Sailed—Ocean Queen, for St.
John's, N.B.
GUERNSEY, Oct. 13.—Wind, S. Sailled—Pallas, New-
foundland.
WATERFORD, Oct. 13.—Sailed—Perseverance, Cape of
Good Hope.
ELSINORE, Oct. 10.—The Charlotte, of Dundee, has been
burned at sea.

The prospects of the vintage at Lisbon were
much more favourable than was at first expected.

THE CAPE MAILS.

--- ---
GIBRALTAR, Oct. 10.—The Zillah, Oran to London, put
in here on the 30th of September, leaky, and must dis-
charge part of cargo.
BOMBAY, Sept. V.—The Marion, of Liverpool, loaded,
is leaky, and must be docked and coppered.
MAURITIUS, Aug. 19.—The Lord Elphinstone (barque)
foundered off Copany on the 24th July ; crew arrived at
the latter place.— The Thomas Sparks, Calcutta to Liver-
pool, put in hero on the 9th inst., dismasted.—The Pey-
tona, New York to Melbourne, put in here on the 16th,
leaky, &c.
BATAVIA, Aug. 23.—The Bournceuf, Sydney, N,S.W.,
to Bombay, has been lost in Torris Straits ; master, his
wife, her sister, and five men, drowned.—The Napoleon
and the Fatal Oheb have also been lost in the same Straits.

CAPE TOWN, AUG. 6.
The long outward voyage of the Propontis, caused
by her having run short of fuel, gives more than a
fortnight's later Cape news. Nothing has occurred
since the departure of the last steamer to check the
activity which prevails in all commercial affairs,
owing to the large continued shipments to Austra-
lia ; the amount of business transactions during
the last month or two being unprecedented.
The effect, however, of all this has been an enor-
mous rise in the price of all articles of consump-
tion, notwithstanding an unusually large harvest.
The list of candidates for the Upper house has
swelled to more than twice the required number,
and the greatest exertions are being made by the
various committees over the colony to secure the
return of their particular candidates.
On the frontier the peaceable aspect of affairs
continues uninterrupted, although this happy state
of things will only last until Sandilla receives the
Queen's decision about the forfeited lands ; but
there appears nothing either in the acts or bearing
of the Kafirs to justify such an opinion at present.

(BY ELECTRIC TELEGRAPH.)
LIVERPOOL, Saturday, 10 30 a.m.
Wind, S.W., moderate, and damp.
Arrived—Crusader, from Pernambuco ; Agnes, from
Antwerp; Shannon, from New York.
Wind, N.E. QUEENSTOWN, Oct. 13.
Arrived—Cassandra, from Ismail ; Avance, from Alex-
andria ; Marchiza and Vertumno, from Odessa, both for
Cork ; and Marie Therese, from Gallipoli, for Liverpool,
(BY SUBMARINE AND EUROPEAN TELEGRAPH.)
GRAVESEND, Saturday.
CUSTOM-HOUSE RETURN.

Arrived—Aphrodite, from Saunetund ; Clara Maria,
Riga ; Seine (s.), Boulogne ; Louise, Stettin ; Ariadne,
Suudewall ; Viva, Arendal ; Hong Antial, Worcum ;
Hanover, Rotterdam.
Sailed—Moselle, for Hamburg ; Queen of the East,
Sydney.

The death of Kreli's favourite son has caused
great consternation amongst the whole tribe, and
induced that Chief to put his principal witch-doctor
to death.

DEAL, Saturday, 9.30 a.m.

Wind, W., very fine.
Anchored.—Alice Wilson, from Sheerness for Naples ;
Agincourt, from London for Sydney ; African, from Lon-
don for Bathurst, R.G. ; Alice, from London for Sal-
combo ; Orion, from London for Alexandria ; Sylph, from
London for Barbadoes ; Corsair, from London for St.
John's ; Dalhousie, from London for Sydney ; Hajji, from
London for Constantinople ; Rosa, from London for Bahia;
Paraguay, from London for Liverpool ; Nicolaus, from
London for Syra.

The result of the Commission of Inquiry into the
Hottentot rebellion has appeared in a Government
notice.

Sir George Clerk had reached the Sovereignty ;
the greatest alarm is still felt there at the probable
abandonment of that fine territory. The wool it
produced last season was upwards of 2,000 bales,
and that of the present season is likely to exceed
it by 100 per cent.
No intelligence has been received since last mail.
The want of another steamer on the coast is greatly
felt.

DEATH OF CHARLES BARING WALL, ESQ., M.P.—
This gentleman, one of the members for the city of Sa-
lisbury, expired yesterday morning at his residence,
Norman Court, Hants. The hon. gentleman had been
ill for a considerable time, and therefore his decease was
not altogether unexpected. The hon. gentleman was
formerly a Tory of the old school, and opposed the se-
cond reading of the Reform Bill in 1832 ; but shortly
afterwards, upon the accession to power of the adminis-
tration of the late Sir Robert Peel, he changed his opi-
nions and became a liberal. He was unmarried, and
the whole of his vast estates will descend, we under-
stand, to a young nephew. His death causes a vacancy
in the representation of Salisbury ; and it is rumoured
that E. Antrobus, Esq., son of Sir Edward Antrobus,
Bart., will offer himself as a candidate in behalf of the
liberal interest.

A DAY MAIL TO PLYMOUTH. —The important ques-
tion of a day mail to Plymouth is at present exciting
much interest in the locality concerned. A memorial
to the Postmaster-General from the inhabitants of the
towns of Plymouth, Devonport, and Stonehouse is in
course of preparation ; no doubt it will be numerously
signed, and it is hoped that it may prove effectual. It
is suggested that the Post-office should avail themselves
of the express train from London, which leaves Pad-
dington at 20 minutes earlier than the ordinary day
mail train, and reaches Plymouth at 5 p.m., early
enough for the delivery and reply by the following
morning up train. This arrangement would be a matter
of very great convenience to the thi 03 towns and neigh
bourhood, and seems of such easy accomplishment that
it is difficult to believe that the application will not be
ouccesoful.

LATEST FOREIGN NEWS.

AUSTRALIA.

FRANCE.

SOUTHAMPTON, OCT. 14.

The Moniteur contains an Imperial decree grant-
ing, until the 31st July, 1854, to foreign coasting
vessels, conveying corn, rice, potatoes, and dried
pulse, from the Mediterranean to the Atlantic, or
from the Atlantic to the Mediterranean the same
privileges in French ports as French vessels possess,
provided their cargoes have been shipped pre-
viously to the above date.
The Bourse was more firm yesterday than for some
days past. The announcement of a great reduction
in the Austrian army, mentioned in a telegraphic
message, dated Vienna, the 13th, encouraged the
speculators to [purchase, and public securities in
general rose in price. The Three per Cents. opened
at 73f. and closed at 73f. 20c., for the end of the
month. The Four-and-a-Half per Cents. closed
at 99f. 75e. ; Orleans Railway shares, 1,165 f. ;
Rouen, 1,020 f. ; Havre, 487 f. 50c. ; Great North-
ern, 810 f. ; Paris and Strasburg, 915 f.; Paris and
Lyons, 902 f.; 50c. ; Lyons to the Mediterranean,
730 f. ; Western of France, 695 f. ; Bordeaux and
Cette, 590 f. ; Great Central, 522 f. 50c. ; Lyons and
Geneva, 505 f ; Shares of the Bank of Credit
Mobilier, 712 f. 50c.
BANK OF FRANCE.—The following was the situa-
tion of the Bank on Thursday, Oct. 13 :

By the Royal Mail steam-ship La Plata we have late
accounts from Australia, received vitt Panama. These
advices were brought to Callao by the ship Patrician,
from Sydney, with dates thence to the 19th of July,
and from Port Philip to the 14th. '

Mining business was exceedingly dull, owing, it is
said, to unfavourable weather.

The General Screw Steam Shipping Company's steam-
ship Argo, from Southampton May 8, arrived at Port
Philip on the 14th of July, after an unprecedented pas-
sage of 65 days. "The fact of this splendid vessel,"
says the Melbourne Argus, " having run the whole way
from St. Vincent to Victoria without requiring to touch
at any port for coal contrasts in a very striking manner
with the peddling and miserable doings to which we
have been accustomed on the part of another company
now, we trust, happily defunct."
Mr. Foster, the new Colonial Secretary of Victoria,
and fittnily, arrived by the Argo, and the Argus sup-
poses he had brought the news of the appointment of a
successor to Mr. La Trobe, whose resignation of the
Lieutenant-Governorship had been accepted.
The steamers West Wind, on the 11th instant, and
Hellespont on the 12th, had arrived at Melbourne.
The steamer Sir John Harvey arrived at Sydney har-
bour early on the morning of the 16th of July, being
116 days from Boston. She performed the voyage under
canvas, and her captain and passengers speak highly of
her qualities as a sea boat. She was built at Boston
about a year since, and is looked upon as a fine sample
of American naval architecture.
The following are extracts from the latest business
circulars :

CR. - - Fr. c.
Cash and ingots
Cash at the branch banks
Overdue bills 286,102 25
Bills becoming due in Paris, of which
75,870,568f714c. are from the branch
banks 186,179,317 14
Bills in the branch banks
Advances on coin and ingots
Do. in the branch banks
Do. on public securities of France 34,413,626 10
Do. by the branch banks -
Do. on railway shares and bonds 71,421,500
Do. in the branch banks
:Do. to the State by treaty of
June 30, 1848
Rentes of the reserve fund
Rentes of disposable funds , 55,453,580 37
'
Hotel and furniture of the Bank 4,000,000
Real property of branch banks 3,921,872
;Expenses of administration 909,385 92
Sundries

"No appreciable increase of business is noticeable this
week. In consequence of tho late heavy rains the gold
arriving is small in quantity, and the diggers in many'
places have suspended. operations. The exchange increas-
ing to 2 per cent. caused some demand, but the market is
almost drained of samples in first hands.
"My advises from Melbourne quote the price there at
775. 6d. to 775. 9d. Though there was no reason to appre-
hend any serious decrease in the yield, the impassable state
of the roads rendered it difficult to ascertain the state of
operations at the mines. A very beautiful sample of gold
from M`lvor has been received in Sydney ; one nugget of
10 oz. sold for 4L 4s. per ounce.
" The escort from the Western Diggings has brought
down 1,003 oz. 13 dwt. 6 gr.
" The prices realised by me this morning were 31. 15s. to
3/. 15s. 6d. for New South Wales.
" JOHN G. COHEN, Bullion Broker.
" 490, George-street, Sydney, July 8."
"The gold market this week has been more active; but
very little gold now reaches us from the sister colony, in
consequence of the price in Melbourne approximating to
the rates in this market ; and the flooded state of the
country has been such that none of the escorts on our side
have arrived.

1,048,513,951 79

" Letters received from the Turon and other diggings
are all anxiety for the report of the Select Committee on
the Gold Fields Management Bill. Upon that depends our
future prospects—if mild laws are enacted population will
flow in. The gullies and places distant from the river will
be worked, as it will then enable the digger to cart his
stuff from a distance, and employ hands, which at present
cannot be done, with the heavy impost now levied. Our
mines up to the present have only been scratched ; there
is no fear, if a liberal policy is pursued, but rich and
valuable localities will be found ere the summer has passed.
The last enactment of our Legislature drove away 5,000 of
our best minerr. We are now all anxiety to know what
will be done to bring thousands back.
" Intelligence from the Ovens is still of great encourage-
ment, and a large amount of gold is being obtained, and
will increase as the weather becomes fine. The Sydney
gold escort started from the Ovens on the 9ch with 3,5000 z.
gold, and 3,0001. in specie.
" My last advices from Port Philip by the Wararah state
that more gold than usual arrived during the week. The
M`lvor gold is one-eighth of a grain better than Ballarat,
which is considered the best. The accounts of sales of gold
received by the Francis Henty netted 41. per ounce. It is
anticipated that the adulteration in gold was not to a
great extent.

" The price of gold during the week was 31. 17s. 6d. for
Port Philip, and 31. 17s. 3d. for the Ovens : New South
Wales, 31. 15s. to 31. 15s. 6d. ; and in active demand, on
account of the advance in Exchange of 2 per cent. by our
banks. There has been a great deal of dissatisfactions
London against the insurance companies charging 31. pet
cent. on the gold by the Vulcan and Great Britain. The
account sales of New South Wales gold, by these vessels,
turn out very satisfactory.
"JOHN G. COHEN, Auctioneer and
Bullion Broker.
"490, George-street, Sydney, July 15."
" The demand for gold is in excess of the supply, and
prices have again advanced a little during the week. The
quantities coming forward have been very limited, and
until the weather gets more settled we may expect but
very little from our mines, as most of the diggers are en-
tirely stopped with an over abundance of water.
" The following are the results of my sales since my last
report :-Port Philip, 31. 18s. 6d. to 31. 18s. od. ; ovens,
31. 17s. to 31. 17s. 3d. ; Adelong Creek, 31. 168. ; NeW
South Wales, 3/. 15s. 3d. to 31. 15s. 6th
" WILLIAM DEAN, Auctioneer, &c.

" 429, George-street, Sydney, July 15."
The English ship Glance had arrived at Callao frolt
Sydney. The Panama Star, in reference to the arrivP
of this vessel and the news she brought, says :
" The most interesting news to our readers here is the
fact that the first shipment of gold from Australia to t:
United States, via Panama, has been made by the WO
by Adams and Co. It amounts to about 40,000 dots."
Under the head of Commercial Intelligence, the Mel-
bourne Argus of the 27th of June says :7

" Gold continues to be nominally quoted at 775. We
say nominally, because the small amount of the business
transacted scarcely warrants a quotation, and the subject
has now become one of constant remark and a little uneasi-
ness, for parties are beginning to be struck by the small
yield of the gold fields, considering the large numbers now
crowded at them. It is a matter of regret the actual
state of the gold fields can at no time be precisely ascer-
tained, and that we are constrained therfore to depend in
a great measure upon conjecture, where certainty would be
of so much value.

"In banking and money matters we have no alteration,
unless a general complaint of an increasing heaviness in
business. The falling market has had the effect of almost
suspending our old established houses, who are disposed to
hold on, rather than force sales at present. It is chiefly
the new comer who is supplying the market, and the re'
turns he is receiving will, we fear, soon tell. High rents
and contingent expenses press heavily upon him, and these
in a manner compel him to do business, while old houses
can lie by and wait their time.
" At present, however, trade is sound and healthy, soil
even the largest retail dealers, although not doing so ev
tensively, are yet maintaining a good and safe business.
" Flour is reported to have declined to $ll per barrel
for first quality American ; sour flour is unsaleable.
" Servants' wages are quoted, for men, 601. to 701. Per
annum, and for women 251. to 501., according to their oe'
cupation. Labourers on the road $2 per day. Seamen to
London for the run 451. ; coasting 91. to 101. per mouth.
Rations supplied in all the above cases.
" The state of the roads is described as frightful, 0
many as 24 bullocks being required to pull one drag
through some bad parts.
" The Argus announces that it declines receiving fur:
tiler subscribers at present, having already more than it
can supply. It cannot even insert all the standing &dyer'
tisements more than twice each week.

" John Mitchell is gazetted in New Zealand as an ttb-
sconder, and a reward of 21., `or such lessor aunt as mai,
be determined on by the convicting magistrate,' is offereu
for his apprehension. The New Zealand Colonial Gazette
says :—` We understand that Messrs. Mitchell and Martin
have proceeded to join their compatriots in America. There
are only two left.'
" The Earl of Charlemont, of the Fox lino of Anstre-
lian packets, with 435 passengers, wont ashore at Barwoe
Heads, and became a total wreck. No lives were lost."

Alluding to the vessels in Hobson's Bay and the
Yarra, the Argus says :

" The forest of vessels which meets the eye wheneNer i 6
is directed seaward, is singular and striking ; yet their
number can scarcely be realised unless when committed to
paper. On making inquiries for this purpose, we find that
there are 8 steam-vessels, 73 ships, 89 barques, 55 brie,
and 58 schooners, all lying at anchor, either delivering or
taking in cargo, in the port of Melbourne alone.
P The,
whole makes a total of 283 vessels, which, if averaged at
390 tons each, would make a total of no less than 84,900
tons of shipping at one time in that harbour."

The anniversary of the American independence wail
celebrated at Melbourne on the 4th of July by the
American captains and residents with the greatest éclat.

STATE OF THE WOOLLEN TRADE.

(From, the Lecds Mercury of this day.)

LEEDS, Oct. 14.—There is nothing in the state of the
woollen cloth market this week that requires any parti-
cular notice. It continues unsettled and languid.
There was a slight improvement in the coloured hall
on Saturday, but the white market was flat and dull.
On Tuesday, there was a very slender attendance of
merchants in both the cloth halls, and the transactions
were kept within a very limited compass. Prices are
easier. There have been very few buyers in the tows
this week, and the trade in the warehouses has been dull
and quiet.
HUDDERSFIELD, Oct. 11.—The market has been verf
quiet again to-day,ibut more business has been done than
last week. Numerous inquiries have been made of the
manufacturers for heavy goods suitable for the coining
winter, but transactions have been confined to very sine"
purchases, as there appears to be a general impression
that goods will be lower in price after the forthcoming
London wool sales.
ROCHDALE, Oct. 10.—We have had a decidedly wore°
market today than that of the previous Monday. Theret
is no disposition on the part of the merchants to buy 3,/
present. The wool market has also been slack, ea'
prices may be quoted a shade easier.
HALIFAX, Oct. B.—There are no signs of improvement
in any of the branches of trade connected with this ITO;
ket : the indisposition to do business on the part 0-
buyers seems rather increased than otherwise, and prices
incline to be weaker both in wool and manufactures.
Quotations for combing wools are very irregular ; they
vary in the article of middle wethers from 150. to 166'
per lb., but nothing can be done at the latter pace'
There is some little reduction, too, in the value of short
wool.

RAPID PASSAGE TO AUSTRALlA—Yesterday nesl
were received, via Callao, of the arrival of the Gene
Screw Steam Shipping Company's steamer Argo, of
Sydney, on the 18th July, being a run from EnglandP
70 days, including five days' detention at St. Vincent °c;
The Argo had touched at Melbourne to discharge WC,
and passengers ; it may, therefore, be assumed that eh
made that port in 61 or 62 days from Southampton. 0,
MR. PETO'S YACHT.—We understand that the aPP,,ft,
hensions entertained for the safety of Mr. Peto's ya
with those on board, amongst whom were Mr. Bid i¢
and family, are unfounded, the vessel having arrivou,
afety,