The Sun.
London, England, 1854-07-27 00:00:00

THE SUN, LOND'ON, THURSDAY EVENING, JULY 27, 1854,

undertaken. The Noble Lord had obtained a
promise of support from the Ministerial Leader
of the House of Commons. More than that, he
received energetic and powerful assistance from

MONEY MARKET

LATEST FOREIGN NEWS.

AND
CO3IME.RCIAL INTELLIGENCE.

THE WAR.

the Home Secretary, the accredited Leader in the
absence of the President of the Council—assist-
ance without which the bill must have either been
defeated, or at least shelved for an indefinite
period, until its utility would have been completely
lost ; and yet the Secretary of the Treasury offers
the most strenuous opposition to the measure thus
strongly advocated by his official superiors, and
other Ministers exhibit not merely a strange hesi-
tation, but an intense anxiety to maintain neu-
trality. Surely there must be some extraordinary
influence at work in the back ground to explain
these singular phenomena, and the public will not
fail to ascribe its exercise to parties whose vacil-
lating conduct has already given rise to serious
apprehensions among those desirous of seeing a
proper measure of r; tribution inflicted on the
unconscientious disturber of the peace of the
civilised world.

CITY, TWO o'CLOCK.
The sales of cotton at Liverpool yesterday were es-
timated at 10,000 hales, including 2,000 American
taken for export and on speculation. The market
closed with increased firmness, but without alteration
in prices. The sales comprised 8,000 American, 121)
Pernam and Maranbam, at Sid. to Bd., 300 Egyp-
tian, at 6d. to 11d., 1,000 Surat, at 2/d. to 4gd.,
and 300 Sea Island at ls. ld. to 2s. Bd. per lb.
Railway Shares were dull.
The letters and papers by the Overland Mail
have only just been delivered, and consequently
there has not been much time to examine their
contents. It would appear, however, that the
Sydney market was firmer than that at Melbourne.
Wines were being re shipped to England, owing to
the relative higher value here, and the expectation
of a deficient vintage in the vine-growing countries
of Europe.
Accounts from Hamburgh state that the com-
bined fleets were off one of the principal islands of
Aland, and that an attack was hourly expected.
The French troops, it was supposed, would make
a descent upon Finland, but at St. Petersburg
there is stated to be very little apprehension, and
no re inforcement of troops had been sent, the
usual number, 12,000, being distributed over the
province. The exertions of Admiral Plumridge to
secure the services of local pilots in the Gulf of
Bothnia are stated not to have been very successful.
At the general court of proprietors of the South
Sea Company, held to-day, a report and resolution
were passed authorising the sale, calling in, and
conversion of the assets of the company by the
Court of Directors. Power was also given to
make provision fcr compensation, allowance, or
pensions for the various officers of the company. A
lengthy discussion took place with reference to the
mode of dividing the assets, and a vote of thanks
was passed to the chairman, Charles Franks, Esq.,
when the court adjourned.
The difficulty experienced in obtaining the re-
quisite capital for the Indian railways, intrusted
to one gigantic company, induces us to recur to the
ground upon which the erroneous principle was
adopted of not giving the contract to two distinct
companies ; and the following extract, from a
financial deSpatch of the Honourable East India
Company, written last August, but only just laid
before Parliament, will show how great has been
the mistake committed :
"Considering the relative position of the Indian rail-
way companies arid the Government of that country,
the former can only be regirded as agents for carrying
out and executing the wishes of the latter, and we cer-
tainly do not perceive the necessity of emptying a greater
number than is consistent with the convenience and ad-
vantage of the public service. Under this system, we
may hope that the usual beneficial effects of competition
will be derived from a vigilant Government superin-
tendence, and the inconvenience which would pro-
baldy result from the pressure of conflicting interests,
will be avoided. We are even now apprehensive that
the competition for freight will create a difficulty, al-
though the railway companies will send their materials
to different ports ; but we think that the number of
competitors fur freight to one port should be limited as
far a 4 possible ; and as you are of opinion that a single
management could safely and effectually control a line
extending from Calcutta to Delhi, we do not deem it ex-
pedient to employ two agencies for this line, but shall at
once place ourselves in communication with the East
Indian Railway Company in view to makilg arrange-
ments for the commencement simultaneously in various
parts of the line as far as Delhi, and for its ultimate ex-
tension to the North-West Frontier.

CONSTANTINOPLE.
A letter from Constantinople of July 15, says :
The following news has been received by express
from Omer Paella :—" The despatches of Hassan
Haki Pacha, commanding the body of troops at
Rutschuk, announce that after the victory gained
at Kama by the Ottoman troops over the Russians,
the latter retreated the night after the battle of
Slaposia and Giurgevo. Ali Pacha, brigadier-
general, was sent with a sufficient force to take
possession of those towns. The Turks hoisted the
Imperial banner immediately on entering, firing a
salute of 21 guns to celebrate the event. The
general immediately gave the inhabitants of the
towns every assurance of his protection, and ordered
fortifications to be thrown up forthwith."
The following brief note has been received from
a military officer at Silistria :
" SILISTRIA, July 4.—Nothing new of import-
ance. lam busy sketching out a plan. The
Turks are drawing together. The great camp
at Kalarasch is hourly diminishing. General
Luders still occupies It with two divisions."
July 5. The Russians who were encamped in front
of us have for the must part disappeiired. There
ascertained,
oing)
Lieutenantoltei
itteriltrsozeettri
nAapeEridrei
sun,tgttirilvlili
English
were
heal
r;onekgtrieiealec:retiendli to
ao.
rather
a.
si,nisti Icshvpie%a
only remain there now from 12,000 to 15,000 men.
l
n
er li 1
uantnitl
Tile subject which at present most interests all
polities—and who does
not do so now, and especially at Constantinople?—
persons taking an interest in
is the position assumed by Austria towards Russia.
According to accounts brought here yesterday from
Vienna by the Ottoman Secretary of Legation, M.
Sten 11, it would appear that the Emperor Nicholas
has given the bearers of the Austrian ultimatum
for the evacuation of the principalities an answer
well in keeping with his reputation for haughty
daring. On receiving them he is stated to have
told. them, that if their Emperor wanted war he
should have it, but that neither he or their young
master would, in all probability, see the end of it.
In the meanwhile the success of the Turkish arms
has thrown a shadow over the exploits of the Rus-
sian generals, which will not be easily wiped out.
'evesilictiayteotaestgitediitutohoinAl
leefiyat
en
near
are proceeding
going
Their prestige is done for.
It will be remembered that some weeks since the
disappearance of an English soldier at Scutari
created a great sensation here. Two Montenegrins
have been arrested at Unkiar-Skelessi by the Turk-
ish police. In the house in which they were con-
cealed the complete uniform of a British soldier
was found, and there seems to be no doubt that
the unfortunate man was murdered by them.
These men are in prison, but have as yet obsti-
nately denied the charge. The matter has been
refereed to Lord Raglan.
The late Captain Parker's ship Firebrand is still
here, but will return to the Black Sea to-morrow.

The plain and simple principle on which the
bill was founded, is that parties shall not be per-
inittA to do indirectly that which they are pro-
hibited from doing directly. If they took any
part in a loan to Russia, they would, under
the existing law, be guilty of a grave offence
against their QUEEN and country, for which they
would be justly stigmatised as traitors, and incur
the stringent penalties due to such enormous
guilt. Would it not be worse than ridiculous to
allow them to take at second or third hand that
which was expressly forbidden in the first instance ?
Such under-hand dealings would have the effect of
encouraging capitalists, over whom we have no
control, to make the advances required by the
CZAR, for the purpose of foiling the efforts of the
Allied Powers, and purchasing weapons and
munitions of war to be, used agains.: the armies
and navies of Great Britain. It is notorious that
the AUTOCRAT is endeavouring to negotiate lcans
for the purpose, as described by. Lord PA LMERSTO;
"of killing our soldiers and sailors, of destroying
our commerce, and of frustrating all our national
policy." It is equally notorious that there are
parties ready and willing, to contract for any sum
or sums of money he. may think proper to ask,
provided they could anticipate such a demand as
would enable them to dispose of it at a trifling
premium. The certainty that no English or French-
man could or would " touch the accursed thing"
on any terms, that no English or French gold
wou'd be available- at any time during the con-
tinuance of hostilities, would materially limit the
supply, and enhance the terms to the AUTOCRAT.
It must be, indeed, a grasping cupidity, an
" auri sacra fames" that could induce any Eng-
lishman to seek after unholy profits. But, un-
fortunately, no dependence can be placed in some
persons where there is a clear prospect of gain.
They would sell their countries without hesita-
tion, aye, even themselves, to appease the
" itching of their palms." No moral considera-
tion, no dread of public reprehension would dete
the avaricious.

EXCHANGE OF PRISONERS AT ODESSA.
A despatch from Malta says the exchange of
180 officers and sailors lately forming the crew of
the Tiger had to ken • place at Odessa, but unfortu-
nately the number of Russians to be exchanged fell
short of the English by SO, and accordingly so
many of the crew of the Tiger remained in cap-
tivity.

Speculator—Port/us me sibilat, at mihi plaudo.
The people may condemn, but I applaud myself,
would be the exclamation of the successful pur-
chaser of the New Russian Stock, and he would
not lift his head leas proudly "on 'Change" be-
cause the thousands or tens of thousands by which
he had augmented his banker's account had been
acquired in so very questionable a manner.

Aavices from Odessa report that after the ex-
change of the crew three steamers of the fleet
opened a fire on the wreck of the Tiger and on the
forces of the enemy near it—the Russians being
busily engaged in recovering from the wreck
various munitions of war.

" We shall be glad if arrangements can be made to
allow those who have come forward under the denomi-
nation of the Upper India Railway Company to take a
share in the extended undertaking, by the'r amalgama-
tion with the East Indian Railway Company."
The English Funds have been very heavy again.
Consols having been done at 92k, and since at 921
for transfer. The account prices have been at 921
to g. Business is exceedingly dull. Bank Stock
is quiet at 211), and India Stock has been at a de-
cline from 226 to 222. Exchequer Bills are par to
3s. prem. The Bonds have been dealt in at 931 h.
Foreign Securities have been dull, Spanish 3
per Cents. have been at 371 ex-dividend, and the
Deferred at 18k. Mexican Stock has been at
and Brazilian New at 931. French 41 per Cents.
have been done at 99.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 6 to 61; Mexi-
can, 24i to 24i ; Peruvian, 66 to 68 ; ditto Three
per Cents. 50 to 52 ; Portuguese Four per Cents.
39 to. 41 ; Russian Five per Cents. 97 to 99 ;
ditto Four-and-a-Half per Cents. 81 to 83 ; Spanish
New Deferred, 181 to 18/ ; ditto Three per Cents.
364 to 37i; ditto Certificates, 3/ to 4,1; ditto Pas-
sive, 31 to 41.
The last week's railway receipts ascertained up
to this day are in round figures as under :

THE DANUBE.
We learn from Vienna (July 25) that a Russian
camp of 50,000 men is to be formed at Urzitseni.
The Turkish outposts are at Parapajni, where a
most sanguinary engagement was fought on the
19th. Prince ' Gortschakoff is confirmed in the
command of the Moldo-Wallachian army.
A Vienna journal publishes a letter from Bu-
charest of the 12th, in which it is stated that Prince
Gortschakoff, the commander-in-chief of the Rus-
sian army in the principalitios,, had received there,
by courier from St. Petersburg, a letter from the
Czar approving of his new plan of operations. The
Russians boast, says the writer of this letter, that
they are going to resume the offensive, and that
they will drive the Turks into the DAnuhe.

The arguments used against the bill were,
indeed, "sheer nonsense." If of any avail, they
only proved that the measure did not go far
enough, and that the old as well as the new se-
curities of Russia should be tabooed during the
continuance of the war. Mr. WILSON showed
that money may be withdrawn from the one to be
invested in the other, and to that extent solely
were his opinions worthy of attention. We
commend this part of the case to the attention of
Lord PALMERSTON and Lord D. STUART, to ascer-
tain whether an efficient remedy might not be found
against so glaring an evil—so flagrant a grievance.

REPLY OF AUSTRIA. TO THE LATEST
RUSSIAN PROPOSITIONS.
The Breslau Gazette repeats the statement of
Colonel de Manteuffel having been ordered by the
Prussian Cabinet to submit some new propositions
to that of Vienna, in consequence of some tele-
graphic news received at Berlin from St. Peters-
burg. It would appear, however, from the ac-
count in the Breslau Gazette, that these propositions
had not been favourably receive I, and that Prince
Gortschakoff, who had also received despatches
from St. Petersburg, had been informed by the
Austrian Minister for Foreign Affairs that the
Cabinet could not consent to modify the summons
which it had addressed to the Russian Govern-
ment.

1854. 1853.
Great Western
North-Western
Soutii•Western
Brighton
Midland
South-Eastern 59,854 56,238
16,244 15,541
17,122 14,177
29,297 25,584
21,175 19,238
Caledonian, and Edin. and Glasgow 17,983 16,139
Great .Northern
Lancashire and Yorkshire
This is " making up" day in the English Railway
Market, and the quotations vary according to the
particular course of speculation during the last
fortnight. On the whole there is no activity, and
the prices are not buoyant. Midland, however,
are firm, and Lancashire and Yorkshire also.
Foreign shares are iu fair request.
Mines arc nominal, banks firm, and miscellaneous
dull, at about former rates.

According to a letter from Odessa, in the Lloyd
of Vienna, the Anglo-French cruizers in the Black
Sea do not keep a very sharp look out. It is stated
that on the Bth• a Russian steam-frigate entered
the port of Odessa from Sebastopol, and that this
is the sixth Russian ship of war which has arrived
in the same manner. An opinion prevails at Odessa
that the allied fleets will endeavour to get posses-
sion of the port for a winter station. Every effort
is making to increase the means of defence.
Commercial letters from Akjerman of the 10th,
brought by travellers, and quoted by the _Ham-
burg News, state that the inhabitants of that
part of Russia are afraid of its soon becoming
the scene of important events. In the early
part of July several vessels of the allied fleets re-
connoitred the mouth of the Dniester, awl the
public, living, as it does, in perpetual alarm, sus-.
pects the following to be the plan of the campaign
—" The allied fleets, after a few feignedh attacks
mouth
against Sebastopol, will land troops at the efortifica-
of the Dniester, to take possession of
Odessa, and direct their attacks in the
fortifica-
tions there. These troops are
againstalso
Akjerman.to
The Turkish troops which are advancinging
the mouth
Dobrudscha, and those now
toiccetePY
operations. At
of the Sulina, are to supportoccupy
divisionje is to enter the
the same time a naval.
Akjcrmau with every
are being constructed at
from
Bender are bring-
ingpossible haste, and vessels
defence of that place. A
fresh troops for the
all the number of craft are ready to take
Danube and attack Ismail."S Strong fortifications
Govern-
ment property into the interior at a moment's.
warning in case of invasion, an many of the in-
habitants are beginning to leave.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
Pront the Oticial List. ,

,tnsiness don.
sank Stock .
per 292
3 Reduced Annuities...,,,,,, 92A
3 per Cent. Consols Annuities........., 92 2
34 per Cent. Annuities . .................... _ 934 3
ung Annuities, Ezpiro sth Jan.., 1860
Uitt, 30 Years, Expire 10th Oct., 1859.... 4i
indiaStock .................................... 226 2
India Bonds, £lOOO ........
.....
.... ...
Ditto, under £lono .......................... 2 p
Consols for Account 17th August
......... 921
gichtquer Bilis, 24d.

s.'looo
...... 3 p par
2500 ....................................... 3 p par
qtcall .................. . ..................... 4 p par
Exchequer Bonds, 1853
................ 98$
Ditto Scrip, 1859
...... . ........ #
P
PRICE OF FOR MGN FUNDS THIS DAY.
razi;ian Bonds, 5 per Cent. ..................
Ditto Small
Ditto New, 1852, 4:1 per Cent
........ 93i
exican 3 per t.)ent. ......................... . 24A
Peruvian Bonds, 44 per Cant. ............. G 73:
Spanish Bonds, 3 per Cent ..................... 37i d
.Spanish New Deferred, 3 per rent ..,.......•
18i x
Spanish Committee Cert. of Coup. •not fun. 4
nividendi on the above payable in London.
French Routes, 41 per Cent,
.............. 99f Ex. 25f
TIMER O'CLOCK.
Consols ............................ : .......... 924 I Ditto August Account 92ii

BASIS PROPOSED BY ENGLAND AND
FRANCE FOR PEACE.
It was reported on 'Change to-day writes the
Vienna correspondent of the Morning Chronicle
on July 22, that the answers of the Western
Powers to the late Russian propositions had
arrived, and that the conditions which England
and France are willing at present to lay clown as a
basis for peace negotiations are :—That the pro-
tectorate which Russia has hitherto exercised over
the Danubian principalities should be henceforth
transferred to England, France, Austria, and
Prussia, and that the executive administration of
this protectorate should, by mutual consent, be
delegated to Austria ' • that the old treaties between
Russia and Turkey be not renewed ; that securi-
ties for the free navigation of the Sulina mouth of
the Danube be given in a practicable and tangible
form, to be concerted by the four powers ; that
Russia bear the present war expenses ; but that,
on the other hand, not an inch of Russian terri-
tory shall be demanded if the above conditions be
accepted. It was also added that Austria and
Prussia fully approved of this basis for peace nego-
tiations, and that the same had been already
communicated to Prince Gortschakoff, the Russian
envoy extraordinary here, who is stated to have
received these counter propositions with great
complacency. I report the stock jobbing version
of these proceedings solely for the purpose of con-
tradicting
it. In authentic quarters I was in-
formed that confidential communications, upon the
subject of the last Russian propositions, have
doubtless been exchanged between the Western
Powers and Austria and Prussia, but that at pre-
sent nothing definitive has been resolved upon.
On the other hand, I was assured that it may be
safely taken for granted that there are no imme-
diate prospects of peace negotiations. It appears,
moreover, that the pending communications be-
tween the four Powers, upon the subject of the
Russian propositions brought to Vienna by Prince
Gortschakoft, are not yet ripe for publicity, but
that it is certain that Prussia is urging Austria to
join her in a declaration that the last propositions
of the Czar are deemed acceptable by the two Ger-
man Powers, to which England and Francecannot
(according to the arguments held here by the Prus-
sian envoy extraordinary, Lieut.-Colonel von Man-
teuffel) possibly object. On the other hand, it is
equally certain that Austria repudiates this sug-
gestion in Coto, being determined to remain faith-
ful to the principle of unanimity with the Western
Powers, agreeably to the spirit and tenour of the
various protocols to the Vienna Conference. I Was
furthermore assured in official circles that not
nutly.days4Wilt elapse- ere the 'poatioll of Austrite,

THE MINISTRY DIVInED AGAINST ITSELF.

A curious scene took place in the House of Commons
Last night on the debate on the Russian Securities Bill.
The principle involved in this bill is the old-fashioned Eng-
lish doctrine that, if
his guineas come to, him
-- You are at war with an enemy, it is
just as criminal to augment his resources with your money
as to assist him with your arm. It makes very little differ-
epee whether you hire troops and lend them t-) Russia or
lend Russia the money to p troops
with.. M immondoes not
Thus Mammon in the ylleos'useo C
see this, or will net see it. aMammon does not care whether
blood. Mammon holds with Vespasian, that money, how-
ever procured, cannot stink in the nostrils. A guinea is a
guinea in Mammon's e and, let it be as black as a mur-
derer's conscience Mammon covered withordureor reeking with
Hammon very . ammon will
ence—except that hthe •us rates of interest
e own by yam
—between m,finnndmmonesanksnotwos pnoolidsilitreirt..
money lent to the Queen for the purpose of
punishing the Czar and money lent to the Czar for the pur-
pose of enabling him to shoot the subjects of the Queen, and
rities. In the great money market Mammon says, " Let
Queen Victoria and stand upon an equal footing"
It • •• is gratifying to
the Czar
Y naturall voted forthe sale of Russian seen-
find that Manirnon has it not all his
Own way in the House of Commons. He and his
could do nothing
ni against the righteous
Eoglish feeling which actuated most of the members.
During the debate on the subject, Mr. Wilson, one of the
Secretaries of the Treasury,
expressed opinions adverse to
the provisions of the bill. Lord Palmerston, who took
the proper common-sense English view of the question, in
the course of his observatious, remarked that the state-
ments of the Secretary to the Treasury were "sheer non-
souse." This is a curious way
of backing your friends.
Something still stranger took place. A division took
Thane' when Lord Palmerston and Mr. Wilson were
on
the two tellers
opposite sides. The noble Home
Secretary was
anti-Russian, the Secretary for the
Treasury was for free trade in Russian promises to
pay After the division attention was called to the
fact that an honourable member, Sir W. Molesworth,
who was in the house before, and in the lobby when
the division was taking place, had abstained from voting.
Here is the Home Secretary abusing the Secretary to the
Treasury, and the President of the Board of Works trying
to get rid of the responsibility of a vote. This was not the
termination of the Comedy of Errors. After the division
for reporting progress Sir J. V. Shelley, one of the tellers,
reported that Mr. Lowe, the Secretary to the Board of
Control, who was in the house when the division was
called, had " bolted up stairs," and abstained from voting.
All this is very small, very pitiable, very cowardly, very
mean. Are scenes like these calculated to give confidence
to the country in the Coalition Ministry ?—.Daily News.

BEVERLEY ELECTION.—A Mr. Arthur Gordon has ad-
dressed the electors of Beverley, offering himself to sup-
ply the vacancy caused by the resignation of Mr. Law-
less. From the mode of his announcement, it would
seem that in makin, it, he has acted in concert with the
retiring candidate. Mr. Gordon appears to be an asto-
nished admirer of the present administration. His family
name suggest 4 a poaible relationship with its head,