The Sun.
London, England, 1854-04-06 00:00:00

THE SUN, LONDON, THURSDAY EVENING, APRIL 6, 185 4.

judge correctly as to the present state of the
Exchequer, and the financial prospects of the

MONEY MARKET

LATEST FOREIGN NEWS.

AND
COMMERCIAL INTELLIGENCE.

country.

THE WAR IN THE EAST_
THE RUSSIAN PROPOSITIONS.
(BY ELECTRIC TELEGRAPH.)
VIENNA, WEDNESDAY, APRIL s.—Duke George
of Mecklenburg has brought conciliatory propoEd-
tions from St. Petersburg.
Prussia perfectly approves of them.
Austria may possibly support them.
Consequently the answer to the last note of the
Western Powers may be influenced hereby.
A telegraphic despatch from Berlin, dated the
4th inst., published in the Cologne Gazette, has the
following :
" The New Prussian Gazette announces that
Duke George of Mecklenburg-Strelitz, who arrived
here a few days since from St. Petersburg on an
extraordinary mission, is the bearer of the reply of
the Emperor of Russia to the autograph letter of
the King of Prussia.
" In this reply, the Czar (says the New Prussian
Gazette) offers to conclude peace, and to evacuate
the Danubian Principalities, if the rights which the
Christian subjects of the Porte have recently ob-
tained through the intervention of France and
England are guaranteed by treaties ; and if, in
addition, the fleets of the Western Powers abandon
the Black Sea and the Bosphorus.
" If this nature of guarantee is accepted by the
Western Powers and by the Porte, the Emperor of
Russia declares himself ready to allow the rest to
be settled by the moans of negotiation in a Con-
gress, which might, for instance, be held at Berlin."
The Times Paris correspondent, writing yester-
day at 6 p.m., says :—" I have not learned that the
French Government have as yet received any offi-
cial intelligence of the propositions of the Empe-
ror of Russia to the King of Prussia, as communi-
cated in the letter of which Prince George of Meck-
lenburg Strelitz is stated to have been the bearer.
But in any case I have reason to believe that,
however the allied Governments may be dis-
posed to receive these or any other proposals
of the kind when made in good faith, they will
not relax in the remotest degree in the energetic
measures they have taken for carrying on the war.
No propositions whatever will stop the prepara-
tions which are being made, and however plausible
the arguments that may be used, they will be
powerless to turn them aside from their great ob-
ject of protecting Turkey, and with Turkey the
whole of civilised Europe, from the encroachments
of an unprincipled and barbarous power. But even
in the event of such propositions having been made,
the Emperor of Russia has so clearly shown how
little he is entitled to be believed that no attention
will be paid to them. The belief is firmly rooted
that every act of his is but for deception when it
is not for outrage, and if he hopes to succeed in
duping the world again he is sadly mistaken. No
attention, therefore, will be paid to anything he
may say or do. The French Government still pro-
fess satisfaction, or at least not dissatifa,ction, with
the conduct of Austria. Their favourable opinion
of this Power still endures, and though Austria
may affect to maintain neutrality, yet it is firmly
believed that neutrality cannot be maintained
more than a few weeks after hostilities shall have
actually broken out, and that, when Austria really
begins to act, her action will not be in favour of
Russia. Such is the opinion expressed in the
highest quarters here not later than this day.
A very short time will suffice to show whe-
ther this opinion partakes of optimism, but the
fact is that it is entertained. Unfortunately there
are others who are not so sanguine when the
question is one of Austria's loyalty, who still doubt
the sincerity of her declarations even when most
earnest in favour of the policy of the French and
English Governments, and who fear that, when
the important moment comes, Austria will show
herself in her true colours. They think that while
she is professing sympathy with the Western
Powers and with Turkey, and giving hopes of co-
operation with them in the coming struggle, she is
only gaining time in order to fortify herself in
Hungary and Italy, and that when this object is
attained, and that she is summoned to a bolder
action, she will turn round, and, graceful and hy-
poctritical to the last, will quietly pass over to the
enemy's camp. Those who indulge in these sinis-
ter predictions have, it is true, good cause to dis-
trust that power, and to believe that when she
speaks most fairly she means most falsely. Between
the two opinions I do not profess to decide. I
merely repeat, that this Government are sanguine
in their expectations of what Austria will do."
A Shumla letter of March 13, published in a
second edition of the Times to-day, says :—" Sir
John Burgoyne and suite arrived here yesterday
from Varna, in order to make the arrangements
with Omar Pasha relative to an effectual co-opera-
tion of the allied armies. He had a long inter-
view with Omar Pasha this morning, at ten
o'clock. I need scarcely say that nothing is
known, even in the official circles here, of the
details of those arrangements—large councils and
confidences being rather leaky everywhere, and
not less so in Shumla, where so many extraordi-
nary political and military characters, of all na-
tions, are congregated together. Miss Burgoyne
accompanies Sir John in his official tour. His
military suite consists of Major Dickson, of the
Artillery, and several other distinguished officers of
junior rank. Major Dickson, as is well known, be-
sides being a highly scientific officer in his own arm,
speaks Turkish fluently, having been long in the
arsenal of Constantinople as instructor. From the
most practical experience of Sir John Burgoyne,
little doubt can exist that whatever plans may be
adopted, conjointly with Omar Pasha (who knows
every inch of Turkey in Europe, and has the fullest
theoretical knowledge of all the environs of the
Black Sea), the obstacles to the realisation of the
views of Russian conquest of Turkey will hence-
forth be of the most formidable character. Mean-
while there is a general movement of troops towards
the Danube, and all the morning there has been a
hurry scurry of preparations. My next will pro-
bably be from the shores of that river. Major
Dickson, of the Artillery, Lieutenant Burke, of
the Royal Engineers, and the Hon. William Wel-
lesley, of the Coldstream Guards, aide-de-camp to
Sir John Burgoyne, start for Rustchuk. Lieu-
tenant the Hon. G. Wrottesley, of the Royal En-
gineers, accompanies Sir John back to Varna."

In the Customs, then, the falling off on the
quarter is no less than 106,891/. Last quarter.
also there was a falling off of 96,8061., showing
a total loss within the six months of 203,6971.
—rather a formidable deficiency in a depart-
ment where, notwithstanding the constant re-

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, including 1,000 Ame-
rican taken for export. The market closed very
steadily but tame, without alteration in prices.
The sales comprised 4,000 American, 220 Pernam
and Maranham, at 51d. to 74d., 60 Bahia, at
60., 100 Egyptian, at 50. to 101 d., and 400
Surat, at 3d. to 3d. per lb. Railway Shares were
firm at rather higher prices.
The following vessels have been ordered by the
Admiralty to be surveyed for the conveyance of
troops and stores :—The Marion, Panola, Calliope,
Arabia, Chaseley, William, Prowse, Burmah,
Northumberland, Monarchy, Coronella, Pember-
ton, Harbinger, and Negotiator.
The following communication, in answer to the
remarks made in Parliament by Mr. Bernal Os-
borne, has been communicated to us by Messrs.
Sturgeon and Sons:—
! " Gray's Hall, Essex, April 5, 1854.
" Sir,— Pending the appointment of the Committee,
asked for by Sir W. Smijth, we begto be permitted shortly
to trespass on your space in reply to the ungenerous and
unfair remarks of lir. Osborne.

ductions going on, there had previously
been a steady and most satisfactory improve-
ment. We must not, however, forget that we
have not only had the reductions on tea and
sugar, which came into operation during the past
year, but many minor articles that were struck
out of the tariff, while we had only a trifling aug-
mentation arising from the additional duty in
lieu to place to the credit side of the account.
There has also been a loss occasioned by the fail-
ure of the currant crop, the duties having, in the
past year, not quite realised one-half of what they
yielded in the previous year, or one-third of the
year immediately preceding. Some allowance
must also be made for the fact, that the increase
in the first cost price of tea nearly equalled the
reduction of duty, so that the usual increase of
consumption that generally follows a reduction of
duty, and prevents any considerable loss, did not
occur. As it was, however, we find that in place
of a loss of 950,0001., as it would have been
if the demand remained without variation,
the loss was only 375,0001., much less than
half the amount. We must also, under this head,
recollect that the internecine conflict waging at
Preston has affected the comforts of many fami-
lies, and kept the wife's teapot as well as the
husband's beer-can empty.
In the Excise, the deficiency on the quarter is
155,2311. Last quarter also it was 113,9701. So
that on the six months during which the strike
has been going on, we find that there has been a
loss to the revenue in that which has been justly
regarded as indicating the condition of the
labouring population of the country, and the
amount of comforts of which they were in the
enjoyment. It is, of course, necessary to bear in
mind that the soap duties have been abolished,
but it also should not be forgotten that there is a
set-off to the extent of about 425,0001. by the
enhanced spirit duties in Scotland and Ireland.
On the whole, although there is some credit to be
given for abolished soap duties, we acknowledge
ourselves disappointed in the returns under this
most imporiant head.
In Stamps there is a trifling falling off—only
6,050/. We must, however, protest against the
attempt of the Times to account for that falling
off by the modification of the duties on receipts,
and the adoption of a uniform ld. stamp. The
Times says—" Notwithstanding the adoption of a
uniform penny stamp on receipts, and other re-
ductions, the loss under this head is 6,0581."
This plainly implies that the receipt experiment
led to a loss. But what did Mr. GLADSTONE de-
clare in his budget ? "Well," said the Right
Honourable Gentleman, "notwithstanding the
very great reduction made in the amount of duty
payable for the instruments to which I have re-
ferred, to an uniform duty at Id., yet for the six
months commencing on the 10th October, and
ending on sth April next, the revenue on account
of receipt stamps will, instead of falling off by
37,000/., have improved by 36,0001." It is,
therefore, scarcely fairly to imply that what really
gave an addition of 36,0001. within the six
months was, in any respect, the cause of a loss
of 6,0501. this quarter, and of 75,1011. on the
last.

He is incorrect in his assertion that 'Upland' Hay
was asked for. Whatever the terms of the contract with
which no one would have anything to do, and of which we
are in ignorance, the Admiralty letters to us willishow that
`Upland' Hay was not asked for.
" His quotation from our letter, where he makes us un-
derstood to say that the hay offered by us was admirably
suited for horses,' was calculated to mislead the House.
That remark was applied to some mixture hay, of 1852,
which we asked 155. per load more for, which was not ac-
cepted by Government, and to distinguish it from the
meadow hay which they did accept
" We had not thought it possible that any one could be
found who, in an affected attempt to exculpate us from the
infamy of such a charge, would have sought in it a fresh
opportunity for assailing us; or who could prefer to the
reparation of an injury, an act of justice, and the removal
of an unjust charge, the consistency of an office, although
it should be the Admiralty : and, moreover, when the
Judges he now eulogises, and on whose judgment he asks
our condemnation, were dismissed, and others appointed
by the Admiralty, by their letter of the Bth of March,
coupled with an invitation to us to supply more hay.
" We hope, as wo believe, that our feeble cry for justice
will, as an echo in your columns, gather strength, and
that ready to strike, you will show that you are not less
ready to admit a defence.—We are, sir, your obedient
humble servants, _

" STDRGEON AND SONS."

The non-arrival of the Harbinger steamer from
Australia causes some disappointment, as she is
expeeted to bring a larger amount of bullion than
was at first stated. She will have probably, about
73,000 ounces of gold.
There has been a very buoyant market for the
English securities, and the quotations are strug-
gling up, despite the occasional selling. The
speculators are rather quiet, and not doing much
either for the rise or fall. Conspis have been 864
for a moment, and since 87/ for transfer. The
time prices have been 87 to Exchequer Bills
are par to 3s. premium, and India Bonds par to
ss. discount.

Foreign Securities have been more dealt in, and
are generally very firmly maintained. Mexican
Bonds have realised 23 to 24, a payment of
another ss. being advertised upon the remanets.
Grenada Deferred Stock has been marked 51 to 6.
There is also a payment announced on part of the
Granada Debt. Buenos Ayres Stock has been at
53k, and Chilian at 98i. Sardinian Bonds have
ben at 75. Russian Five per Cents. have im-
proved to 91. The Four-and-a-Half per Cents. are
82. Dutch Four per Cents. have been 83i to 84k.
Spanish Three per Cents. realise 35g.
Eight cases containing ores from the Waller
Gold Mines have arrived in London to-day, ex
Arctic, from New York. We understand that the
shareholders will be invited to witness the testing
of this consignment.
The business done in the Mining Share-market
has been smaller, but prices are supported. The
Land Companies shares have been firm, and the
Banks very quiet.
The last week's railway receipts ascertained up
to this day are in round figures as under :
_

The increases are on Taxes and Property Tax
—on the former of 87,833/., on the latter of no
less than 415,481/! The Times can only ac-
count for this latter increase " from the rigorous
collection of arrears, or some other extraordinary
stimulus."

Great Western ....
North-Western ...

1854. 1853.
. £22,853 £19,087
. 52,830 49,016

South-Western

11,434 10,940

Brighton
Midland

10,021 10,382
24,879 23,120

South-Eastern.

14,288 14,244

We regret to say that there is a more obvious
reason to be assigned. Half a year's tax from
the new contributors (Mr. J. LLOYD PHELPS and
his class), and from Ireland—which was paid
during the past quarter—will, we believe, fully
account for the improvement. Besides, there
was a falling off of 53,3501. last quarter, which
has probably been collected during the present,
so that we see nothing of which to boast in the
so-called improvement.
The Post-office remains in statu quo, the re-
ceipts in each quarter being exactly the same,
282,0001. In the Crown Lands there is a defi-
ciency of 7,0001., and in Miscellaneous of 8,8311.
So much for the ordinary revenue. In the ex-
traordinary items it is sufficient to say that there
has been an increase of 55,2201. under the head
of " Imprest and other Moneys," and a falling off
of 60,7871. in the Repayment of Advances.

,
Caledonian, and Edin. and Glasgow 14,783 12,903
Great Northern 17,022 13,526

Lancashire and Yorkshire
York and North Midland, Newcastle
.27,636 23,966
and Berwick, and Leeds Northern

The Railway Share Market, though not particu-
larly animated, is much better, and the rise in many
of the English lines is A to 1 per cent. North -
Western, York and Berwick, and Great Northern
being most buoyant. French shares are up about
ss.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK,
(Prom the Official List.) _ . .

nustnea. done
Bank Stock
per Cent. Reduced Annuities Bsi 64 z d
3 per Cent. Consols Annuities 874 6f 71
New 31 per Cent. Annuities B4 a 7k x d
Long Annuities, Expire sth Jan., 1860
India Bonds, £l000
Ditto, under £lOOO 5 10 d par
Consols for Account 18th April B7 1 k
Exchequer Bills, 2d.
£1000
£5OO par 3 p
Small par 3 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.

Forty years have nearly elapsed since the
Artists' General Benevolent Institution was first
consolidated as an institution. It was not in-
corporated by Royal Charter until the June of
1842, but as early as 1814 it was first instituted.
On Saturday next, the Bth of this present April,
1854, the customary public dinner will be given
in celebration of its (thirty-ninth) anniversary.
The Chair will upon that evening be occupied
by the Right Honourable BENJAMIN DIS-
RAELI, the leader of her MAJESTY'S Opposi-
tion in the Commons House of Parliament. His
predecessors in that chair, it is not uninteresting
to remember, have been as various in their charac-
ter as for the most part they have been eminently
distinguished. Glancing down from the record
of the earliest to that of the latest anniversary
banquets, we find that the dinner of 1815 was
presided over by the Father of our present gracious
SOVEREIGN, while that of 1853 had as its chairman
the President of the Council in herMAJEsTy's existing
Government. During the interval between 1815
and 1853, H.R.H. the Duke of SUSSEX acted as
chairman at similar festivals on no less than five
of these anniversaries. Sir ROBERT PEEL was
chairman in 1830—in 1831 the chairman was
Lord LYNDHURST-...in 1833 the Marquis of LANS-
DOWNE—in 1834 the Earl of DURHAM—in 1835
Lord BROUGHAM. Now (1843) it was Viscount
MAHON, and now (1832 and 1842) Sir MAR-
TIN ARCHER SERE. One year (1852) it was
the Earl of CARLISLE, and previously, upon two
occasions (1844 and 1851), it was Sir ROBERT
HARRY INGLIS. The Liberal-Reformer, once
representative of the West Riding of Yorkshire,
or the Tory-Conservative, then member for the
Oxford University—it signified nothing as to
political views, it signified only as to personal
character, who, upon these interesting anniver-
saries, was selected as the Chairman of the Artists'
General Benevolent Institution.

Buenos Ayres Bonds, 6 per Cent 53.
Chilian Bonds, 6 per Cent 9B
Grenada Bonds, Deferred
Mexican 3 per Cent.
Ditto for the Account 24
Peruvian Bonds, 4i per Cent. 55 8
Russian Bonds, 1822, 5 per Cent. £ St 9l
Ditto 4i per Cent B2
Sardinian Bonds, 5 per Cent 75
Spanish Bonds, 3 per Cent 3si
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Gull 551
Ditto 4 per Cent. Certifieates ....

HALF-PAST TWO,

Consols 874
Ditto April Account B7B

EPSOM RACES.

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)
CITY AND SUBURBAN HANDICAP
VIRAGO

Twenty-three ran.
TRIAL STAKES.

Rataplan
Cranbourne
RAILWAY PLATE

Orinoco

Eighteen ran.
BETTING ON THE COURSE.
METROPOLITAN.
3to 1 agst Jonathan Martin.
6to 1 agst Muscovite.
6to 1 agst Royalist.
14 to 1 agst St. Clair.
14 to 1 agst Annie Sutherland.
20 to 1 agst Haco.
CITY AND SUBURBAN.
3to 1 agst Marc Anthony.
3to 1 agst Virago.

Saturday, as we have already observed, will
find the chair occupied at the Freemasons' Tavern,
not by some follower or member of the present
Cabinet—not by some conspicuous or subordinate
Ministerialist—but by the Leader (in the House
of Commons) of her MAJ-EsTr's Opposition.
Charity, however, is of no creed or party, to the
exclusion of the remainder—it appeals to all in-
discriminately. As Chairman of the banquet on
Saturclayevening, Mr. DISRAELI will be regarded
in his personal capacity, in his individual emi-
nence as one of the chief men of our time,
and as himself an artist, both as an orator and as
one of the most brilliant and popular contributors
to our living literature. If his political position
be borne at all in remembrance upon the occa-
sion among those who will be assembled to aid
in the convivial celebration of the Artists' Gene-
ral Benevolent Institution, it will only tend to
mark the extent, and to enhance their sense, of his
intellectual superiority over the masses of his
fellow-citizens, who are his contemporaries.
Cherishing himself a genial sympathy for art and
artists, Mr. DISRAELI may, we feel assured, anti-
cipate, with all confidence, the gathering around
him on Saturday evening of an adequate muster
of congenial sympathisers—men, not only ready,
but eager to afford to the widows and orphans of
decayed artists that assistance which for forty
years has been unremittingly supplied by the
funds of the Artists' General Benevolent Institu-
tion.

SOUTH-WESTERN RAILWAY.-Sir W. Efeathcote has
formally resigned. Nor is this the only retirement that
has been for some time expected. The long-continued
absence of Mr. Uzielli from meetings of the board lends
credence to the rumour that that gentleman also is about
to vacate his seat.—Railway Times.
THE -UNIVERSITY BOAT RACE. - The forthcoming
University boat race is the present theme of conversa-
tion amongst the elite, and will no doubt be a very ex-
citing exhibition. Both crews are in daily practice over
the acquatic course destined for this great trial of supe-
riority, and their exertions are watched with consider-
able interest by those who wish to speculate upon the
result. In each trial both crews are said to mend in
pace, and it would be indeed difficult to select a finer
set of men, or boats better calculated for the full exer-
cise of their power. The list remains the same as we
published a few days ago, the Oxonians being consider-
ably the heavier men. The style of rowing materially
differs, but not so much as heretofore, each being very
fast and effective, as far as we can judge by an inspec-
tion of trials. Betting is, at their training quarters, 6
to 4 on Oxford. It was at first conjectured that the
race would be rowed down from Mortlake to Putney,
but as the tide will hang up till near mid-day, it will be
vice vfxsa, the boats starting a little after eleven from
Putney-bridge, and the course finishing at Barker's-rails.
Both crews appear very sanguine of success.
THE QUEEN'S CORRESPONDENCE.--A letter from her
Most Gracious Majesty to the Marchioness of West-
minster, condoling with her ladyship and her family on
their late melancholy bereavement, was , written on
Wednesday, and despatched from Buckingham Palace
on that day. It reached Eaton-hall on Saturday,
having been " mis-sent" to Flint. It was at first sup-
posed that this most unpleasant mistake was imputable
to the negligence or oversight of the employes at the
Chester Post-office, and a searching investigation was
instituted to bring it home to the proper quarter. We
are happy to be enabled to state that the result of the
inquiry has fully exonerated the officials here, as it was
conclusively shown that the Royal missive had never
reached the post-office here until Saturday morning, on
its return from the Flint office, to which it had been
" mis-sent" from the General Post-office in Loudon.—
Chester Chronicle.

REPORTED SEIZURE.—The following was posted at
Lloyd's yesterday :—.'• It is reported that the Flavio
Gioja, from Antwerp to Montreal, has been arrested is
the Downs under Admiralty warrant, supposed to have
arms on board."