The Sun.
London, England, 1838-05-22 00:00:00

take place in the Government, and that the federal form will
be substituted for the present, when those w ho then come into
power will have no d►fficulty in making the submission re-
quired. Then, however, the question occurs, if le jeu taut la
chandelle.
Lly an extract from a New Orleans paper in another place
it will be seen that an American vessel has been turned away
from Metamoras by a French brig of war.
NEW ORLEANS, APRIL 26.
BLOCADE OF MEXICO BY FRANCE.—The schooner Sarah
Ann, Captain Bontemps, which cleared from this port for
Tampico, oil the 16th inst. returned yesterday. Her Captain
reports that he was entirely unable to enter the port of Tam-
pico, by the French blockading squadron, conslsting of thir-
teen vessels of war, which precluded any communication what-
ever with the port. The Sarah Ann has brought 1-wr cargo
back again, and the Captain has waited on our Collector to
learn what steps it is necessary to take.

ATLANTIC STEAM NAVIGATION.—The Great Western takes
her departure to-day for Bristol, and will be, followed by tilt'
warmest wishes of the whole community for her prosperous
voyage. We perceive by the Liverpool papers that a Compa-
ny is now forming there with a capital of 500,0001. to build
steam-boats to run between Liverpool and New York.
The Sirius, it is intended, shall make two more voyages to
New York, when the British Queen, building by the British
and American Steam Navigation, will be ready- to take her
place.

ed
LATER FROM EITROFE.—The Liverpool packet ship Unit
States, Capt. Holdridge, arrived yesterday,- and brings
us
papers front London to the ith ultimo, and Liverpool to the
9th. The dates from the British Metropolis are one day later
than those brought by the steamer Great Western. The
Elarvc packet ship Francois I, Captain Pell, arrived yester-
day with Paris and Havre Papers to the 31st March. The in-
telligence they contain is not later than that received from.
France by the steam ship, but having now a regular series of
papers published in that country, our information as to events
passing there, is more complete.
Correspondence of the Courier and Enquirer.
WASHINGTON, May 5, 1838.—Whatever may be the past
or present position of Mr. Biddle, be assured that the Pf"'
dent does not sit in his arm chair, as calm as a summer's
morning." One of the strongest marked features in the el's-
racter of Mr. Van Buren, is that of caution. He never talk!
nonsense. He never permits his feelings or his temper to get
the mastery of his judgment. In the convivial or social cir-
cle lie may speak freely and apparently carelessly, yet he set
dom commits himself by an indiscreet expression. In shor'
he is a man of some tact, (but always overrated in this par-
ticular) much self-command, and uncommon prudence. Not-
withstandi!.g these characteristics, Mr. Van Buren is
so
goaded with the state of the times, and the embarrassments
which envelope him, that he finds it extremely difficult to re-
main silent.
I should not, therefore, be surprised if he sent either di.
reedy, or through the Secretary of the Treasury, a message,
to Congress, early next week, on the want of money—iWeie:o
—money. I know that he has it in contemplation, hut •
may be restrained by some of his friends. Such a commun,l;
cation would be intended, I presume, as an appeal to tb
people, cautiously complaining of the minority in Congress
for that naughty minority will not let the majority do as till
please, without exhibiting before the country the deformity °t
their proposed measures, and the evil consequences that Inti 3
follow the adoption of them. And then, as soon as this ei'bint"
bition is made, a portion of that majority, instantly shrink fro e
the support of them, and leave the managers to devise sem.r
new scheme for hoodwinking the people, and reaching thel
pockets with greater facility.
Mr. Van Buren, in conversing with his friends recently
has spoken with more freedom than is his wont. Various
O
pedients for raising money have been suggested. S°lneillci
them, it is believed, the Secretary of the Treasury wLet-tio
have embraced if left to himself. But the President, wit°
caution to which I have referred, seems determined, in the°‘
troublesome times (as a lawyer would say) not to travel out' e'
the record. In this he is performing his duty; he is right;
the law should be his guide. He should present to Congre,
us
.
the true and honest state of public affairs, and where legs
tion is necessary, let them determine the proper time for
tho
tion, even, to use the language of the President, " if
wheels of Government stop."
se.l.
ole
I have already informed you, that the repeal of the sla'
order was considered by the Western Banks necessary to th'
security, in the event of their resuming specie paYineetsibe
Ohio and Indiana are deeply interested in this question.
,ra_
subject has been pressed upon the friends of the Adminls‘
tion here with much zeal. My own opinion is, that the Pr.a,?
,
dent will adhere to this order, although it is now univers'
admitted that it was an act of gross usurpation, unequalled
any thing but the ignorance and folly which originated ttoo_
While this is my opinion, it is proper to add, that I have eon.
versed with intelligent men from both these States,. NOV rely
sider themselves well informed on the subject, and w"ho, the
with entire confidence on the order being rescinded •-/
President, and that soon. idaily
org
Notwithstanding the immense amount of specie that reeks
arriving in the United States, and has been for seo` meet
past, it does not seem to reach the Treasury, in time tdro• istra-
the wants of this ssgacious, prudent, economical
tion. Almost every department of the Government is daily
running the country in debt. Disbursing officers are rah bie
money through brokers, on their own official drafts, paYa
when the appropriations are made. In what now Appears
the
be a general scramble for the money that is to come tnto
treasury, I greatly doubt whether it is in the power of the
Government to say to whom, or how much, they are in debt'
What a deplorable state of things ! Would it not be the part
of wisdom, if Congress were to insist upon a statement of
the probable amount necessary to pay off arrearages, before
they authorize the raising of any money either Ott Stocks or
Treasury notes ?
While the Treasury Note system is a most disgraceful
position upon the community, as a temporary expedient to re-
lieve a bankrupt Administration, it has been tolerated for A
t;rne, and may, possibly, be tolerated a little longer. But it is
an alarming suggestion, that these notes, when they come
leaint°
the Treasury, are not to be cancelled, but re-issued at the p;
sure of the Secretary. I know not how the proposition ea
be discussed in Congress with moderation. The Treasury,
under the direction of the President, through the SecretaZ;
would thus become an enormous paper bank, flooding' jk
country in every direction with irredeemable notes. T° tau
of checks and restraints upon the department is worse tf
ot
ridiculous. As well might you attempt to bind hand and °,llcl
a young Sampson with cobwebs. Everything must (7e.1)- f
upon his honour and fidelity, and the honour and fidelity re
those he employs. There are banks that deem it insccuc'h
ever to re-issue a note, and therefore cancel immediately 5
as come into their possession. es
of
As to M. Cambreleng's other proposition, to issues c'a 0
notes that should not be receivable in payment of our clegts-1
the Government, it is so much at war with the fundarn of
institutions of the country, and the common honesty Si
our people, that I cannot suppose it would receive fifty, so
in the House. I hare much to say, but "there is m
solo and a time to reap." ON.
THE SPY. IN WASHINGT

MONEY MARKET, &c.—May 7. alaehang°
A moderate business was transacted at the Stew', nrices.
r
on Saturday, in many cases, however, at improve'
United States Bank sold at 116 ; Phcenix Bank 10°i; d Co.
laware and Hudson Canal Co. 72 ; and Harlem Raiir°3arhiali
58. No transactions at the Board in Treasury Notes, -
continue at 41 discount a par. sto°
Sales of Sterling Exchange for transmission by t--„„ Ss'
ship Great Western, were made to a moderate extenti—haw-
turday, at 6); a 7 per cent, premiums, as the vessel' rtber
ever does not leave till two o'clock P.M., this daY pills
transactions will no doubt be effected. On France,
ranged at sf. 35 a sf. 37f. A; .dend
The Butchers and Drovers' Bank have declared a u.vi o
A "
of eight per cent. for the year ending Ist February last. The
the Commercial Bank, a dividend of a like amount' Oa
State Bank of Albany, and the Bank of Albany, an -a 101
Cayuga Co. Bank, have also divided, the first mentioned
and the two latter 8 per cent. for the last year. of
The acting Trustees of the Phenix Insurance Co1111)8-' at
this city, will pay 3 dollars per share to the Stockholdars'
their office, 216 Washington-street, on the 21st inst.
.„T ville
The Board of the new Bank of Tennesse, met at ''allaaeet
on the 28th ultimo, when it was resolved that the Beata' -the
on Tuesday the fifteen of May, for the purpose of locatingloti
Branches of the institution, appointing Directors for
Branch, &c., according to the terms of the charter. t Se'
Thus Banks of Michigan, it will be remembered, tntil"es 0"
cording to the terms of the Suspension Act, which exP°rr for-
the 16th instant, resume specie payments on that day' gad
feit their charters. Their case appears a peculiar une'aigls•
we learn that it is probable a special meeting of the Lcult°
ture will be nalled to take the matter into considcration•iorlol
Buffalo Commercial Advertiser contains the following fc wife
on this subject. The Chartered Banks of Michigan/3010
been managed with as much ability and honesty as B°Y obi°
in the country, they are in as good a condition as therotest
Banks, but they cannot resume without running the g Th.
hazard of being forced to suspend the second tirtilj,ian°
trouble is, thct Michigan has no surplus products--th°
of
of trade is continually and heavily against her.
rae
Ohio, on the contrary, has a large surplus. age, bete-
her Banks, although in fact they may not be one ,a't r &c',l
than those of Michigan, will purchase pork, wheat, tiet°,e't, wi"
which sent to New York or any other Eastern lear'd VW'
command cash. This fact gives Ohio hills currency, °discount
them up nearly to par, while Michigan notes are at 4_, „saw°
of from 12 to 15 per cent. The Ohio Banks Cottle ' arc°
without danger, because balances are due to that State
every quarter.
ri
The Charleston Mercury of Monday last, states thatcitobliebtieci
16.
surance Offices of that city, w ill, it learns from un liable
authority, be able to pay every dollar for n hick they are which
We have the Texas Telegraph to the 14th ult., faen"ivegon
*ye learn that the amount of imports received at GGOO deli
during the last three months, is somewhat over 250,0„.050 °
f
tars: The amount of duties received at the Custom
that place during the quarter closing on the 31st day Or to in"
was 51,000 dollars. Should the commerce continue the in-
crease throughout the current year at the same ratio e:_iosorl
crease of the last three months, the present issue of pr
notes would be insufficient to meet the revenue demanc"