The Sun.
London, England, 1853-04-07 00:00:00

LONDON, THURS DAY EVENING, APRIL 7, 1853.

AGENTS.—Life Assurance Agents in any
part of England may with advantage become Agents for Fire
Insurance, and thereby greatly extend their Life business. The
D!rectors of the UNITY FIRE INSURANCE ASSOCIATION—au
institution established on new and important principles, and possess-
ing upwards of Two THOUSAND SHAREHOLDERS, whose names and
addresses are published with the Prospectus—are ready to receive
applications for. Agencies, accompanied by references. By looking
over the List of Shareholders, applicants will probably find several to
whom they are known. For terms, prospectuses, &c. apply to
THOMAS H. B kYLIS, General Manager and Secretary.
Chief Offices, 40, Pall Mall, Londe'.

THE FIELD.—THE LARGEST PAPER in
EUROPE.

THE FIEL D, or COUNTRY GENTLEMAN'S NEWS-
PAPER, consists of 24 pages, .with ILLUSTRATIONS by the first
Artists The increased space will enable the conductors to make
each department more perfect; and they hope, by the careful mein-
Fion of every subject of objectionable character, to render THE
FIELD all that a Gentleman's Sporting and Family Paper should
be. Published every Saturday morning in time for the early morn-
ing trains, and may be had of all newsmen.
Office, 4, Brydges-street, Covent-garden. Price 6d.

ATORKSHIRE SOCIETY, for Boarding, Cloth-
ing, and Educating the Ch ldren of respectable Yorkshire
Parents, or Parents reduced by Misfortune or Death, who shall re-
side or have resided within 10 miles of the General Post-office, St.
Martin's-le-Grand.

The FORTY-SECOND ANNIV ERiARY DINNER Is appointed
to take place at the London Tavern, Bishopsgate-street, on Thursday,
May 5, 1853

The Lord Viscount GODERICH in the chair.
The Rt Hon. Lord Londesborongh' John Day, Esq.
The Rt. Hon. Sir Charles Wood,' Peter Dickson, Esq.
Bart., M. P. William Fryer, Esq.
The Rt. Hon. M. T. Baines, M.P. Robert Gibson, Esq.
The Hon. Francis Lawley, M.P. Samuel Hallam, Esq.
Wm. Beckett, Esq., M.P. John Hodgson, Esq.
Frank Crossley, Esq , M.P. Francis Hutchinson, Esq.
George Hadfield, Esq., M.P. John Hutchinson, Esq.
Benjamin Oliviera, Esq., M.P. Thomas flutchlnson, Esq.
Robert Stephenson, Esq., M.P. Mark Hutchinson, Esq.
Wm. Wells, Esq , M.P. Richard Hutchinson, Esq.
Henry W. Wiekham, Esq., M.P. George Kindlay, Esq.
James Alderson, M.D. George Leache, Esq.
Anthony Bannister, Esq. Robert Malburn, Esq.
Charles Bischoff. Esq. Henry Powell, Esq., M.D.
Henry Blanshard, Esq. James Saner, Esq., M.D.
Francis Blake, Esq. JameF S ner, jun., Esq.
John Bolton, Esq. Peter Stainsby. Esq.
Isaac Carr. Esq. Wm. R. Vickers, Esq.
John Cattley, Esq. Robert B. Woodd, Esq.
Tickets, one Guinea each, to be had of the Stewards; of the mem,
bers of the Committ:e ; of the Secretaries; and at the Tavern.
By order, &c.,
HENRY TRISTRAM, Hon. Secs.
ERA NCIS W. BLAKE,I
Schools, March 28, 103.

THE ESTABLISHMENTS ARE KNOWN
EVERYWHERE, and their BUSINESS is PROFITABLE
to EVERYBODY.—It is now unnecessary for E. MOSES and SON
to publish the fact of their commodious, complete, and magnificent
arrangements for the first and most distinguished business in the
world ; but it is right that their patrons and the public should be
acquainted with the vast preparations they are perpetually making,
to supply the most fashionable and comfortable attire at the lowest
prices, and to provide ladies and gentlemen with every kind of cloth-
ing in the newest fashions, and the most superior qualities. The
order department provides elegant styles of MILITARY or NATAL
COSTUME in the most accomplished cut and workmanship, or
LIVERIES to any devise which may be desired—superior quality—
excellent workmanship—dispatch and economy may be depended
upon.

The ready made department is replete with new styles of dress for
daily wear or special occasions, and attire for juveniles not to be
equalled elsewhere for novelty, sup, rior quality, and economical
charges. The hat and cap section is replenished with every new
style, and the best goods are charged very low prices.
The hosiery branch displays articles of incomparable elegance
suitable for ladies, gentlemen, and children, the quality and price of
each article showing how far the establishments of E. 3104 ES and
SON excel all others.

Emigrants are provided with their outfits, or any part of them, al
wholesale prices, by E. MOSES and SON.
Persons about to embark for Australia may gain a large per cent.
age on small investments made in clothing manufactured by E.
MOSES and SON.

All classes of passengers aro furnished with the requisite goods
and clothing for any voyage or climate, and the price of superior
articles is much lower at E. MOSES and SON, than at any other
house.

Complete suits of outfits for ladies and gentlemen, and shipsailing
information may be had on application, or post free to any part of the
kingdom.
CAUTION.—E. MOSES and SON regret having to guard:the
public against imposition, having learned that the untradesman-like
falsehood of " Being connected with their Establishment," or " It's
the same concern," has been resorted to in many instances, and for
obvious reasons, they beg to state that they have
No CONNEXION WITH ANT OTHER HOUSE IN OR OUT OF lANDON,
except their own Establishments, as fellows :

London City Establishment, 154, 155, 156, and 157, Minories, 83,
84,85, and 86, Aldgate, opposite the Church, all communicating.
London West-end Branch, 506, 507, 508, New Oxford-street, 1,2,
3, Hart-street, all communicating.
Bradford (Yorkshire) Branch, 19 nd 20, Bridge-street.
Sheffield Branch, 36, fargate.
Merchant Tailors, Clothiers, Hatters, Hosiers, Furriers, Boot and
Shoe Makers, and General Outfitters for Ladies and Gentlemen.
IMPORTANT —Should any article not give satisfitction, It will be
exchanged if desired, or, if preferred, the money will be returned
without hesitation. All goods are marked in plain figures, the lowest
price, from which no abatement can be made.
The Establishments are closed from sunset Friday, to sunset on
Saturdays, when business is resumed till 12 o'clock.

A new Book, entitled " The World's Pharos," containing the
Emigrant's Assistant, full list of prices, and directions for self mea-
surement, may be had on application, or post-free, to any part of
the kingdom.
. _

-
A handsome Almanac for the year ending 1853 can be had gratis,
on application.

Id Pon pane Franca!s.
flier SI-richt man Deurch.

Qul s 1 parla Italfano.
Aqua ae habla Espanol

THE GREAT NUGGET VEIN COMPANY.

Some communications have been received from Syd-
ney regarding the Great Nugget Vein Company, whose
shares two days back experienced a sudden fall, from which
its actual position would appear to be as follows :—The
number of shares is 100,000, of which 33,000 were issued
in London, 33,000 to subscribers in the colony, 33,000 to
the original proprietors of the vein. The English shares are
of 21. each, fully paid up, and were allotted at a premium
of 11. ss.—the proceeds of such premium being for the
general benefit of the company ; the Australian shares
are also for 21., but with only 10s. paid, their title to a
participation in profits being proportionably limited ;
and lastly, the shares allotted for the purchase of
the mine are to rank the same as the English ones,
that is to say, for 21. each paid in full. The ground
held by the company, and through which the vein
extends, runs parallel with the Louisa Creek for two
miles (comprising also the bed of the creek for that
distance), and is about half a mile in width, the
terms of possession being the payment of a royalty of
10 per cent. to the Government. It is about 23 miles
from Mudgee, and 170 from Sydney. When Mr.
Spence, the manager of the Colonial Gold Company,
arrived in Sydney with his mining captain, he proposed
a mutual arrangement with the Great Nugget Vein
Company for working the property, and after he had
been allowed six weeks for a full investigation of it, a
contract was entered into that the Colonial Company
should conduct the whole of the operations free of ex-
pense to the Great Nugget Company, and allow them
one-half the profits whenever the yield should be equal
to 4 ounces of gold per ton of quartz or earth, one-third
when the yield is 3 ounces, and one one-fourth when it
is 2 ounces or under. He was also to take a steam-
engine of six-horse power, which the Great Nugget
Company had erected, at a valuation, but was to have
the buildings and other works free of charge. Under
these circumstances the capital of the Great Nugget
Company is no longer required, and it will be a
question whether it should not, at an early period, be
returned to the shareholders. The amount remitted
from England had not arrived at the last dates, but the
sum raised by the Australian subscription was being
employed in the purchase of gold. As far as the ope-
rations at the mine, previously to the junction with
the Colonial Company, are concerned, the amount raised
is believed to have been about 3,0001., and when the
Great Britain left the more efficient machinery of the
Colonial Company had arrived. The cause of the fall
during the present week was an announcement that some
of the Austrailian shares had been sent for sale here. It
seems that is correct, about 8,000 or 12,000 of those
allotted to the original proprietors of the vein having
been transmitted. They are, however, said to be totally
distinct from the English issue, and the reason alleged
for the intention to offer them here is that the first out•
lay in connection with the mine incurred by the parties
to whom they belong was nearly 20,0001., and that with
the present demand for business capital at Sydney they
desire to reimburse themselves to that extent.

AFFILIATION.-At the Kensington petty sessions, yes-
terday, Mr. John Stevens, a master baker, of Brentford
was summoned before the magistrates, to show cause
why he should not be charged with the support of an
illegetimate child, of which it was alleged he was the
father. The case was rendered remarkable in conse-
quence of the great disparity in the ages of the parties,
the supposed father being a man far advanced in years,
with a large family, and the mother a child, now not 15
years of age. Mr. Sleap, of the Inner Temple, appeared
for the defendant. Mary Ann Joyes, a pretty-looking
girl, stated that she was now between 14 and 15 years
of age. About the beginning of last May, she was pass-
ing through Brentford, on her way home to her mother's
house, when she was accosted by Mr. Stevens, who was
standing at his shop door, and of whom she had a slight
previous knowledge. He spoke to her as she passed,
shortly afterwards followed her, telling her that he had
something very important to say to her. They walked
for some distance together, and when they got opposite
to a barn that belonged to him, he pulled her in, and
there took advantage of her ; but such had never took
place before or since. In February last, she gave birth
to a female child. Mrs. Joyes, the mother of the girl,
said as soon as she found out her daughter's misfortune,
she waited upon Mr. Stevens, who was the father of 12
children, and he gave her a sovereign to provide neces-
saries, and subsequently to the birth of the child, had
given her another sovereign ; but now refused to do any-
thing more towards the support of the child. Mr. Sleap
addressed the bench, denying altogether the paternity on
the part of Mr. Stevens, and called two witnesses to
impugn the character of the girl. The bench considered
the case fully made out, and made an order for the
highest legal allowance, dating from the birth of the
child, and to be continued until terminated by the statute.
IMr. Sleap said he should advise Mr. Stevens to appeal
against the decision,

SPIRIT OF THE PUBLIC JOURNALS.

CONS OLIDATED FUND AND NATIONAL
DEBT REDEMPTION ACTS.
(From, the Times.)

The Chancellor of the Exchequer's announce-
ment of a motion to-morrow for a committee of the
whole house to consider the Consolidated Fund and
National Redemption Acts will revive many an old
reminiscence, and many a dormant train of thought,
in the elder portion of our readers. Forty years
will carry us back to the day when the National
Debt Ihad not yet attained its present monstrous
proportion, when it was still young and intolerable,
and wlaen every table was covered with pamphlets
on its illegal or its ruinous character, and on the
best way of getting rid of it. Most of the schemes
for its redemption were little more than repudia-
tion, in one flimsy guise or another. But the
iniquity and presumption of visiting the sins of one
generation on another -and leaving to the unborn
the inheritance of a debt larger than the world had
yet seen or conceived, was the prevailing idea of
serious pamphleteers. The utmost that the nation
could do, it was urged by a large class of financial
malcontents, wasto burden the futurefor ten years,
or, at
,the utmost, twenty, that being the period
during which nature makes us guardians and trus-
tees for the rising generation. But theories and plans
for paying the costs of the war and discharging our
increasing liabilities were as rife in those days as plans
of drainage, extramural interment, life assurance,
and cox munieation on railways are in ours. The
debt having attained • 4ertain colossal roundness and
perfection, and tly having happily ended, the
questivk ,44 'itserved, for some years
to fill up the voi • in financial minds; and from that
day to this we have seldom been reminded of the
old controversy, except when Chancellors of the
Exchequer came forward from time to time with

the terrible announcement—terrible to many a
widow and orphan—that stockholders Were to be
immediately offered their money or a lower rate of
interest. By degrees we have come down to 3 per
cent., and for many years Consols have not been
sufficiently above „par to allow any further reduc-
tion. Now, however, for many months, they have
been so much above par, or so little below it, that
it has become a question Whether a bargain may
not be made with =the fundholder, and whether
something may not be thrown in to make up for
the want of a more decided premium in the market.
According to rumour, that is the interpretation of
Mr. Gladstone's announcement ; and, on the sup-
position that it is so', the judgment of the money
world has already been pronounced in its favour in
the infallible voice of the Stock-Exchange.

Under the maiir.contingencies that are looming
in the fundholder's future, and with the days at
hand when money may be a drug, Consols may be
considered as always trembling on the eve of con-
version.. The Chancellor of the Exchequer can al-
ready borrow as much money as he likes for a
twelvemonth at 1 per cent., and what is more
likely than that 2 per cent. may by and by
be thel regular price for loans on unquestionable
security ? It is true that, under many circum-
stances, a great abundance of money has a ten-
dency to raise the rate of interest. It is so in a
new country, with new resources continually
opening, and with many ways presenting them-
selves by which a man trading with borrowed
capital can turn it over often enough to pay a high
interest, and accumulate a fortune besides. But
in an old country like England a great disturbance
of capital is more likely to reduce the rate of in-
terest than to raise it, and, we repeat, nothing is
less improbable than that before long Government
may have as much money as it wants by paying
21. per cent. a-year for it. But the real hardship
will be, that when Government has almost com-
pelledireasnetildlpuluictinduced
ednt
ntbe
unablel
yyctmarhec
esqd ui
pmt
eioarsvre
atkpeot
dere
market,
necessities
and
neht2sdets/
the
bargain s
ewhen h
when
nn stheywere
areat9rot,h, say,orless.lnindetehde,
itm market, may anaturally
e
whooi tf
the
102
supposed that a stock which pays 21. is more likely
to fall much below par than one which pays 31.
For those who buy and sell who
speculate for those
speculate in the funds, or who hold a few thousands
of stock on the reserve fund of commercial enter-
prise, and, still more, for those who have to live
on the interest of -their motley, it will always be a
very great hardship that their stock may be further
depreciated. With such a prospect as this before
us, there appears to be little doubt that a stock
certain to pay 2i per cent. for 20 years will be a
more valuable property than one paying 3 per cent.,
but liable to be reduced to 2 per cent., or even
lower. If rumour says true, that is the proposal
which will be made to the fun/Mohler, and a large
proportion of fundholders will be glad to accept it.
The two conditions offered by the Government,
supposing the rumour to be correct, are the cer-
tainty of 2i per cent. for 20 years, and the certainty
of repayment at par at the end of that period, as
opposed to the chance of reduction to 2 per cent.,
and a depreciation in 1873 or 1883 to 801., or even
601. When stock paying 5 per cent. has been with-
in the memory of living men at less than 50, what
may not be the market value of stock paying 31.,
or so low as 21.? Certainly the present seems the
time for bringing the immense security of Govern-
ment to bear on the general insecurity of commer-
cial affairs. There is no class of debtor, not in-
cluding the Irish landowner, who has not been re-
cently enabled to pay off old debts with new ones
paying less interest, or to make some other advan-
tageous bargain with his creditors. Even France
has done this in the very midst of revolutions, con-
vulsed by factions, occupied by armies, and go-
verned by a despot. We'have the best security in
the world, for England, so liberal and so changeable
in many respects, will fight to the last drop of its
blood to maintain its financial integrity, the real
palladium of its commercial prosperity. Mr. Glad-
stone appears so far to understand our position, and
to seize the opportunity it offers. We take the mea-
sure as we find it, and we have described the proposal
as an advantageous one to the fundholder. In the
city it appears to be thought even too advantageous,
that is, accompanied with too much risk to the State.
It is asked, what if a large proportion of the stock-
holders should immediately accept the offer,. and
Government should find itself obliged to pay them
all their debts at par in 1873, when possibly com-
mercial or political events may make repayment
difficult and costly ? It is even suggested that this
part of the bargain might be modified, with the
option on the part of the Government of paying
its debt at the end of 20 years in 3 per cent. stock.
This may perhaps be necessary, and even with this
modification we are inclined to think the offer a
good one for the fundholder ; but it should be re-
marked that the bargain cannot be a very good one
for both parties at once • and that if the State gains
present ease by a reduction of the rate of interest,
it must expect to purchase that ease by under-
taking some of the creditor's risk. The present
state of affairs is, that the State is burdened with
the payment of an immense annual interest, and
the fundholder has much uncertainty in his future
prospects, as he knows neither the rate of interest
he will receive nor the market value of his stock
twenty years hence. The proposal is and must be
a matter of " give and take." To be relieved
somewhat of its present annual payment the State
must relieve its creditor somewhat of his future
uncertainty ; but it cannot
diminish his risks with-
out increasing its own, as the risks—that is the
chances of change--exist, and must lie on some
shoulders or other. The proposal is that Govern-
eration shall take a por-
ment, for a present consid
tion of these risks on its own broad shoulders, and
the fundholders will do well, we think, to accept
the offer.

FOREIGN AND BRITISH SHIPPING..
(From the Morning Post. )
It will scarcely be forgotten that, in the frequent
discussions with regard to the future of the national
policy which took place on the accession of Lord
Derby's Government to polypi., Mr. Gladstone
assumed to himself as a mission, not only the office
of convoying free trade safe and intact into har-
bour, but also the duty of developing in complete-
ness the initiated system. As Chancellor of the
Exchequer it has since become his peculiar province
to do this so far as concerns tke adaptation of the
financial arrangements of the country to the new
policy ; and on the 18th of the current month we
shall learn how the chiefest representative of the
traditions of Peel proposes to get over the pens
asinorum, that Mr. Disraeli was submerged in at-
be h
at-
tempting.
Nobody questions the diffiillculty o
nullf the passae
ge.
EPeveelriyteb,oDdyerbayarniteits
the Chancellor of the
Exchequer must compass it with free trade on his
, or that,wh ,
Whiff, w he he
back—and encumbered, too, with all the crotchets
that have been of late elicited by Parliamentaay in-
vestigations, and lie sleeping in blue books till they
shall be waked by the Minister moving that the
House resolve itself into a Committee of Ways
and Means. The experiment will be an interest-
ing and, possibly, a slippery one ; and the atten-
tion of the public has been so engrossed in watching

its coming off, that they appear almost to have
lost sight of the condition of one of our most
important branches of industry, which is daily
suffering progressive deterioration because free
trade in its completeness continues to be withheld
from it. It is not from the stirring within us of
any of the old leaven of Protection—not from any
jealousy of those who overthrew what we defended,
nor even from any anxiety to uphold, as a class
merely, the British shipowners, that we again
earnestly call attention to the rapid decrease of the
share, which, relatively to other nations, Great
Britain has possessed of the carrying,trade of the
world, but because we consider that branch of in-
dustry of vital importance to the prosperity and
consequence to the United Kingdom, and deem
its conservation and protection one of the most im-
perative duties of an English Minister.
We do not propose to go over all the old ground
again ; nor is it necessary for our purpose to quote
figures and statements which we have put.in evi-
dence before, and which remain unanswered, to
show that from 1848 to 1852, the relative position
of British shipping was not maintained either at
home or abroad. Ic cannot be denied that, with
regard to the United States especially, and with
regard also to the most important of the European
carriers, such was the fact. That proposition, at
any rate, was not refuted ; but then we were told
that there was a new trade about to open, and to
expand into great importance, both with California
and with Australia, and that of both of these the
British shipowner would undoubtedly get the
lion's share. We expressed doubts as to such a
result being attainable ; and the reasons which we
gave for those doubts have since, we regret to ob-
serve, been entirely justified by facts as regards
California, and the trade from the American shores
there, and from thence to the eastern seas. Look-
ing to the last published returns from the Board
of Trade, it is to be feared that, even with respect
to the trade newly created with our own colony,
we are little better off.

It appears from a comparison of the total tonnage
cleared outwards in the month of February of 1851
and 1853, and we take this month of the present
year because it was then that the Australian traffic
had attained peculiarly high development, that the
total clearances outwards in'tonnage were—

British. Foreign.
In Feb., 1851 359,199, composed of 229,208 128,991
In Feb 1853 505,438,
297,600 207,838

Now, we ask, is that a relative ratio of progress
as between ourselves and foreign nations on which
a British public can lodk with satisfaction, or a Bri-
tish Minister without inquietude ? Will Mr. Glad-
stone and Mr. Cardwell sit complacent or listless in
the face of such circumstances as these ; and will
they make no attempt to persuade or to drive the
foreigner to grant us the reciprocity of unrestricted
competition, and render trade as free in their ports
as it is in ours ? They have a screw in the recipro-
city clause, though somewhat a rusty one, perhaps.
If negotiation and gentle requirements fail, why
not try if it will work or no ?

We have given above the gross increase of the
clearances .of foreign tonnage outwards. It may be
worth while to see how that was apportioned. In
the case of Denmark, the increase has been from
6,000 to 11,000 tons ; in Prussia and the German
States, from 18,000 to 23,000 tons ; in Holland,
from 4,000 to 11,000 tons ; in Belgium, from 2,000
to 4,000 ; and in the instance of the 'United States,

from 50,000 to 100,000 tons.
The entries inwards present a still more remark-
able and a still more disagreeable result. They
are :

Total Tonnage. British. Foreign.
In Feb. 1851... 366,107 composed of 243,471 ... 122,631
In Feb. 1853... 457,154 „ 241,338 .. 215,816

This increase, in nearly a duplicate ratio, appears
to have been thus distributed among foreign carry-
ing nations : _ _ _

Feb. 1851. Feb. 1853.
Russia 5,000
Sweden
Norway 3,000
Denmark 12,000
Prussia 6,000
Other German States 10,000
Holland 5,000
United States 46,000

Add with all this transference of traffic from the
British to the foreign carrier, the consumer gets,
we will not say no benefit, but no equivalent or
proportionate benefit, for freights are no lower than
before the repeal of the navigation laws. Now, we
take it that the questions of the relative merits of
protective and free trade systems being buried and
done with, and a very active motive for fudge in
these matters removed, no man will say that this
is a desirable state of things, or one out of which
our commercial marine is to be left to flounder as
best it may. We are quite aware that shipowners,
ship-dealers, and ship-builders are not at this mo-
ment complaining. The shipowners, like old Ge-
neral Costigan, love to bask in a bit of sunshine ;
but we shall hoar enough of tho voico of their com-
plaining when the Australian ships find crews to
bring them home, and they are thrown suddenly in
a lump for sale or freight on the market here. But
we are not looking solely or peculiarly to them or
interests—we are looking, and we confess with
great anxiety and doubt, to what must be the fu-
ture influence of these circumstances on the posi-
tion of this country, if they are left without check
or amendment. It is idle to hope to stop their
progress by a Pilotage or a Passing Tolls Bill.