The Sun.
London, England, 1853-08-02 00:00:00

THE SUN, LONDON, TUESDAY EVENING, AUGUST 2, 1853.

ROYAL PRINCESS'S THEATRE, OXFORD-STREET.
Under ne Management of Mr. Charles Sean.
TUB EVENING, AUGUST 2.
Will be performed THE DAY AFTER THE WEDDING. Sup-
ported by Mr. and Mrs. W. Lacy.
After which. Lord Byron's Tragedy of SARDANAPALUS.
Principal characters by Mr. and Mrs. C. Kean.
To be followed by CHESTERFIELD THINSKLN. Characters
by Messrs. Harley, Meadows, Addison, and Miss Vivash.

THEATRE ROYAL ADELPHL
Proprietor, Igr. B. Webster —Directress, Madame Celesta.
THIS EVENDIG, AUGusT 2,
Will be performed GENE VIEVE. Characters by Messrs. Parselle,
CUllenford, Woolgar, Leigh Murray, Hastings, A. Wigan, Paul
Bedford, Keeley, 0. Smith, and C. J. Smith; Miss Woolgar and
Mrs. Keeley.
After which, will be presented SARDANAPALU2.
To be followed by THE CAMP AT CHOBHAM.
To conclude with JOHN JONES.

ROYAL OLYMPIC THEATRE.

Lessee and Manager, Mr. Farren.
Great success of the New Drama.

THIS EVENING, AUGUST 2,

Will be performed the New Drama entitled THE TIMES. Charac-
ters by Messrs. Farren, T. Mead, H. Marston, William Farren,
G. Cooke, and Shalders ; Mesdames Auderton and Bartlett.

After which, an entirely New Burlesque, by Francis Talfourd,
Esq., entitled SHYLOCK, or, TILE MERCHANT OF "VENICE
PRESERVED." Shylock. Mr.F. Robson.

To conclude with TUE WirANI.,-dtING MINSTREL. Jem Rags.
Mr. F. Robson.

ASTLEY'S ROYAL AMPHITHEATRE.
Sole Lessee and Manager, Mr. W. Cooke.
MOST PARTICULAR NOTlCE.—Notwithstandin; the continued
suttees attending the Grand Military Spectacle of the Battle of
Waterloo, which CAli only De witnessed at this National Estab-
lishment, Mr. W. Cooke is determined to present his patrons with
an uninterrupted chain of novelty, and begs to announce in Prepara-
tion a Splendid Spectacle on a Classical Subject never attempted,
and will be produced on a scale of splendour hitherto unprecedented.
N.B.—Those who have not yet seen this glorious Dramatic Spec-
tacle are requested to make an early application for places.
MAGNIFICENT SCENES IN THE CIRCLE.
THIS EVENING, AuousT 2,
And during the week, the Performances wM commence with
THE BATTLE oF WATERLOO.
To be followed by Mr. W. Cooke's Matchless Scenes in the CIRCLE,
introducing Mr. Alfred Cooke (the Premier Horseman) on Four Fiery
Coursers.
Concluding every evening with (70th time) THE
LIFE ON THE TURF, with a real Fox Cbase. CHASE ; or,
Doors open at Half-past Six. Box-office open daily from Eleven
to Four. Stage Manager, Mr. W. West.

ROYAL SURREY ZOOLOGICAL GARDENS.
Engagement of Mr. J. W. SHARP, the celebrated Comic VocaliEt.
THIS EVENING, AUGUST 2,
PANORAMIC VIEW of CHUSAN, Promenading Elephants,
Splendid M ENAGER lE.
Vocal and Instrumental Concert. Two Songs by Mr. W.
viz.,
Comic Scena, " Uncle Tom's Cabin," and" Jokes for 18532' Various
amusing novelties, concluding with the wonderful exhibition of THE
FEAST OF LANTERNS, brilliant display of FIREWORKS,
and
EXPLOSION of CHINESE FIRE SHIPS. Admission Is.

' LEGS WATER 'AT LONDON BRIDGE.
Tgr Dev --Illorning 53 min. after 11 I Evening 21 min.aft. 12
T,)-moßaow—Mowing 46 min. after 12 I Evening 8 min.aft. 1

TIE WEATHER.—Suzi OFFICE, AUGUST 2.
THERMOMETEE, IN THE SHADE.
76—highest since noon yesterday.
61,-lowest this, morning, and during the night.
68—this day at, noon.

BAROMETKR, 30'03.
WIND, N.N.

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politicians. It required but a little while, however,
to demonstrate that here again the more credulous
were counting without their host, as the saying
goes, in these visions of a golden age of intercourse
between the Chinese, and the zemaining two-
thirds of the earth's motley population. True, the
mysterious empire still continued open to us at
five separate points, in lieu of our finding, as of
yore, but one solitary and insignificant inlet on
the seaboard for the commerce of the different
nations of Christendom. But then, in defiance
of all those fancied facilities, we were, neverthe-
less, still denied access to the enormous mass of
350,000, 000 of ourfellow- creatures--350,000, 000
consumers—or, as they have been significantly
designated, 350,000,000 calico-wearing human
beings ! There was, there, in fact, is—up to the
present moment—the rub ! How to get at those
new customers ! How to obtain more easily the
produce of their industry, and to discover amongst
them new markets for our manufactures ! Such
is the problem requiring solution at the hands of
our Government. . _

A few particulars will be sufficient to demon-
strate how miserably small have been the results
of all our vaunted diplomacy and boasted negotia-
tions in reference to the amount of our commer-
cial intercourse of late years with the vast
Chinese population. It must be borne in
recollection, then, that 1846 has proved, all
things considered, about the most successful of
the commercial years since peace was in 1842
established. Yet, on an examination of the con-
sular returns for 1846, it will be seen that the
whole value of the trade in that year with Great
Britain, amounted at- Canton to 2,213,116/.
6s. 4d; in:Torts, and to'. 3,332,0211. exports—
while at Amoy the imports amounted to 106,0001.,
and the exports to 8,600/.—at Shanghae the
imports being 810,2001., and the exports
1, 352,5301. Perhaps the unsatisfactory nature
of this disproportion between the imports and ex-
ports will become on the instant more apparent,
if it be observed, that while in 1836 the exports of
British produce to China amounted in value to
1,326,3881., it attained in 1846 only an increase
of value to the amount of 465,051/., being, there-
fore, in effect, simply 1,791,4391. Nay, in 1847,
the exports had fallen again to 1,503,969/. ; awl yet
further, in 1848, to 1,465,959/. ; rising once
more, in 1849, to nearly 1,573,109/. in the
aggregate ! This, after the throwing open of five
different ports on the seaboard of China to our
commercial enterprise—yielding us, as we have
seen, an increase of exports from Great Britain
and her possessions, in the most successful com-
mercial year since the pacification effected in 1842,
namely, during 1846, to the enormous amount of
465,0511. additional ! 465,051/. worth of
British products being consumed in 1846, over
and above the quantity exported ten years before
—products, remember, exported by the wealthiest
of the Maritime Powers of the nineteenth cen-
tury, and consumed by a country comprising
350,000,000 as the sum total of its population.
Is not this, we ask, " proof positive " that
hitherto, in regard to China, Squire BULL
has acted more upon the Quiets no movers
principle than Squire HAZELDEAN did towards
the parishioners of that ilk ? He has left
not well alone but ill alone—and here we have
the delectable consequences. Instead of any pro-
portionable increase in the extent of commercial
intercourse between China and England, an ad-
vance in the value of exports from the latter
country to the former, between the aggregate in
1836 and the aggregate in 1846, of just 465,051/. !
Instead of a hugely accumulated bulk, a mere frac-
tional atom ! Instead of activity, stagnation !
Precisely at the juncture when experience is
forcing these truths more and more convincingly
upon our recognition, our rulers find themselves
suddenly brought, as it were, face to face with the
inestimable opportunity for good yielded by the
Chinese Revolution. It remains next to be dis-
covered how from this "nettle Danger" may be
plucked the " flower Safety"—safety for the
future, and not only safety but prosperity also,
and wisdom, and happiness. How—we ourselves
cannot but regard. as clearly enough apparent.
It remains, at this critical moment, as a few in-
stances may sufficiently well indicate, within reach
of the grasp of her Britannic MAJESTY'S Govern-
ment.

Owing partly to senatorial ignorance of India,
partly to the heat of the weather, the fatigue of
so long a Session, and the consequent wish to get
through a troublesome and ill-relished task as
soon as possible, and partly, no doubt, to the in-
fluence of Government and of the sympathising
monied interests, the India Bill, with Sir CHAS.
WOOD at the wheel, has been steered through the
House of Commons, and the soundings, when-
ever taken, have showed a good depth of votes ;
sail was shortened a little, and the course slightly
changed once or twice, to let us see how free and
easy the pilot could be if ho liked, or just to
show, for the nonce, that he could work the ship
as he pleased ; but the absolutely Woon-en, con-
trol of the Bill was never surrendered for a
single clause. Enough was conceded to reason
to prove that there was power to hearken to
reason throughout ; but so much un-reason, as
CARLYLE would phrase it, was doggedly main-
tained throughout, as to satisfy honest Reformers
that the name of the President of the Board of
Control was a warning from Fate, not a mere ac-
cident ; and that whoever would propose any-
thing for India worthy of a statesman, ran his
head in reality against a—post.
In no instances was this more clearly exhibited
than, in last week's debate, on the clauses
proposed by Mr. HUME and Mr. NEWDECATE.
It is not often that we agree with the latter
gentleman, but the proposal which he made
was based upon a thoroughly sound view ;
that is, supposing we have first admitted,
as the House had done, that the Govern-
ment was to continue double, and that
part of the Directors were to be chosen by elec-
tion. Mr. IlumE proposed to increase the present
electoral constituency, by adding--Ist, all persons
holding 500/. of the Company's stock ; 2dly, all
holders of the Company's paper to the value of
10,000 rupees ; 3dly, all retired and military
and civil servants of the Company who had been
in the service 20 years ; and 4thly, we may add,
all who could vote only by proxy. The third
class alone, according to Mr. WIsE, would have
added 1,800 electors. Mr. NEwDEGATE, who
absurdly contributed to the WOOD majority of
126, against Mr. FlumE, lest by introducing
so many others he should fail to introduce his
own voters, proposed to add to the present elec-
tors " certain proprietors of stock or shares in
undertakings for the internal improvement of
India." Paid up stock of 2,000/. was to give
one vote ; 4,000/. two votes ; 7,000/. three votes;
10,0001. four votes. This would add, he calcu-
lated, about one-seventh to the present constitu-
ency of 2,322 votes ; and it would, of course, be
to a vote at all.
an increasing constituency. Mr. NEWDEGATE'S
WOOD,
ineellaiatellt vote against Mr. Humes proposition
Was •
repaid, as he deserved, by his own not coming
doest Mr.
He was coolly y told by the inflexible
we Teject your proposal for the same rea-
fdartaew(
ait
We rejected Mr Humes—please to with-
son as
now, :ere th
lie bowehdinaTgnhdehNe7i:lhdrese. NEWDEGATE knew his
not always seem to do), for
Parliament And what,
main arguments
ment of India to the East
against both ? Two. Ist,
agreed to commit the govern
Such an immense consti-
tuency bad already
of canvassing.
cMiIirt.YLOWE did not
India Company ; 2dly,
Ttioientackyevit'ohueldlasintcfirerassz
atsheevdeiffin
very logically—the India Bill, however, was en'ouol
to make any one forget all logical order every
reader would naturally exclaim, " And if it did in-
crease the difficulty of eanvassing--what of that ?"
We should prefer to see a constituency which even
rendered the justly odious canvassing impossible ;
which compelled the candidates, as in a West
Riding of Yorkshire Election, to canvass at pub-
lic meetings only, or in public prints. Mr. LOWE
alleged that the clauses prohibiting canvassing had
been repealed. This, however, was
because the
immaculate 24 would canvass law or no law ;
while the repealed law itself witnessed that it was I
should
most undesirable in every way that they i
so:- It would have been then, we conceive,

to have increased the constituency beyond the
power of Sir JAMES HoGG himself to wallow in the
dirt of such a canvass as that for a Director-
ship is confessed on all hands to be. We should
prefer, as we have already pointed out, to add to
the constituency all persons trading to India, such
as merchants and manufacturers who carried on
trade qo a sufficiently large amount to render
them interested in the welfare and prosperity of
India.

And then, as to the first argument, that Par-
liament has entrusted the Government of India to
to the East India Company—it is fallacious in every
point of view. It is, indeed, literally false ; for
the WOOD Directorate is actually composed of
one-third nominees of the Crown, added to
two-thirds who have purified themselves for their
high vocation in a canvass carried on with pro-
mises of patronage for the nascent brood of Indian
harpies ; the Government, therefore, is not given
to the East India Company exclusively. Again,
the East India Company is itself a figment. No
such reality exists, as has been acknowledged
again and again. The present electors of East
India Directors 'have no more actual interest
in India than any of us have—by no means
so much as Manchester manufacturers, who
send so large an amount of their produce
there, and who are certainly in earnest, to
enable India to send their raw material in re-
turn, to increase its consuming powers, and
to better its internal conveyance for their goods.
The holders of FAA India Stock have no more
concern in the prosperity of India than the holders
of Consols. A real East India Company—one
answering at all to its original idea—would be just
the persons at this time actuallytrading with fudia.
They have, at least, a real stake in the well-being
of the country. - -Their exports and imports vary
with it ; but as to committing India to the pro-
prietors of East India Stock, on the ground of
their being beneficially interested in Indian improve-
ment, why, it would have been quite as rational
to have tossed up for electors out of a list of all
the men in this country worth property to the
amount of 5,0004
Looking, then, at the classes proposed by Mr.
HUME and Mr. NEWDEGATE as electors, common
sense would pronounce all of them but Mr. Humes
first-mentioned class, to be far more interested in
the good of India, and most of them far better
acquainted with India than the gentlemen and
ladies who placed Sir J. HOGG and his coadjutors in
loffice can possibly be. The retired Company's ser-
vants must know more of the country, while
those who hold the Company's paper, and
much more those who have shares in In-
dian railways, roads, canals, irrigation, and
draining schemes have a clear stake in the con-
dition of the country. It can hardly be denied
that Government appears to have had an eye to
but one qualification in a voter for a Director ;
and that is, that he should have no conceivable
interest whatever in choosing one, but the amount
of patronage he could get promised for his vote.
Hence the unmeasured virtuous indignation of Sir
JAMES HOGG, backed by the more cool and prudish
virtuous censure of Lord JOHN RUSSELL, when Mr.
BRIGHT held up a strking, but anonymous, pic-
ture of one unquestionable fact. Its offence was
its verisimilitude. It showed itself to be taken
from life. It needed not the superscription
affixed, as we are told, by the old painters to
their performances—" This is a horse," " This is
a tree "—it was a veritable picture of dispensing
Indian appointments, and no mistake. The
wrath of young Mr. MAJORIBANKS' father-in-law
was in exact proportion to the jobbery practised
by Directors with their patronage after election,
and their bribery with it during their degrading
canvass. Had the constituency been enlarged as
we have indicated, it would have done much to
cure the evil.

It was lately observed, with much truth, by
Mr. Comazn, in his speech on Ecclesiastical Law
Reform, that those who were desirous of agitating
for reform of the Law did not understand the
subject, and those who did understand the sub-
ject were opposed to reform.

It is easy to comprehend that great changes •in
the law of a character most advantageous to the
public can seldom be obtained, or even expected,
from lawyers. They have obviously a direct
personal interest in preserving intact the system
which they have learned at much cost of time and
money, and from which they derive their subsis
tents. The more eminent members of the pro
fession, even when actuated by a desire to reform
and when placed by circumstances above the in
fluence of those merely personal and selfish in
stincts against reform to which we have just ad-
verted, seldom have the leisure required for
the purpose. Then the exclusive and tech-
nical nature of a lawyer's education and practice
are unfavourable to the formation of large,
liberal, and enlightened views on the subject of
Law Reform ; and last, although far from least,
the opinion of his professional brethren and the
esprit de corps of the profession form most
formidable obstacles in the path of the legal
reformer.

From these combined causes it has happened
that great changes of the law have always been
very slowly produced. You may effect great com-
mercial reforms, because they are easily under-
stood and extensively agitated for ; but law lags
behind in the race of improvement. Even when
lawyers undertake reform, the changes which they
suggest are marked by great timidity and hesita-
tion. The alteration made preserves the old, and
perhaps, in reality, worn-out system, and some-
times does positive mischief by prolonging the vi-
tality of a process which ought to be abolished alto-
gether.

We have lately adverted to the present barbar-
ous system of transferring titles to land—of " con-
veyancing," as it is termed—as an example of a
monstrous abuse which calls aloud for remedy.
While mercantile men have their speedy and con-
venient modes of transferring the various repre-
sentatives of personal property, such as bills of
exchange, promissory notes, bills of lading, dock
warrants, the public stocks, and all kinds of shares
in railway, assurance, banking, water, mining,
and other companies, land presents the deplor-
able contrast of being clogged in its transfer by
the most useless, absurd, mischievous, and expen-
sive restraints—restraints which men of business
would never tolerate for a moment, if an attempt
were now made, for the first time, to introduce
them. If stock to the amount of 10,000/. is to be
transferred, it is only necessary to ascertain who the
present owners are; but if a piece of land, forming
the site of a mere hovel, is to be "conveyed," it be-
comes necessary to find out not merely the present
owners, but who owned the property before him, and
what right such predecessors had to convey it, and
thus through a line of predecessors for 60 years past.
What real necessity can there be for this
lengthened inquiry ? Why should it be more
necessary in dealing with land than with any other
species of property ? As before observed, it is
more difficult—at least it may be made more dif-
ficult—even with the simplest mode of preserving
the evidence of ownership of land, to feign a right
to it than to stocks and shares which have an
ideal existence only.
The true mode of preserving the evidence of title
to land appears to be by entering the names of the
ownerscapable
in
of be
ao
soyk s with a e
ee p. r o peThr i index,sso
book,
or a s a tso be
e pa_
rate book, should contain entries of the land,
houses, &c., to be dealt with, and the quantities of
such land, 47C., much in the same way as estates are
entered in tithe-rent charge apportionments. The
separate quantities should be distinguished by
numbers, and these numbers should refer to a
map or plan, showing the position of each quan-
tity. The ownership of the land, &c., and its
svaireteurbasateilloddri
noe,mseqastpisaitnsitotenid b
quantity, and identity would thus be
clearly shown. Thus would be shown in a manner
infinitely superior to the tautologous and bungling
nowinserted
ape.mrre
uelisegdh,t usknedtecrhetshe present system,hintehevydeearerdmes'amPwes are
of the land and its boundaries
within any
uniform scale, and in a form too frag-
mentary to be of any
real use for the purpose of
identifying Property in the event of dispute.
A statement of the present legal owner-
distinct stt h
owner-
ship, a list of the names and quantities of each

parcel of land forming parts of the estate, with
reference numbers, and a map illustrating tue
situation and quantities of such parcels, forni all
the means of identification which can really be re-
quired. With regard to all the minor inte-
rests, of various kinds, arising out of land,
thus, trusts for the benefit of a wife
or younger children, legacies and annuities
charged on land, &c., &c., equitable interests of
all kinds, and adverse claims, they should be en-
tirely confined in their operation to the purchase
money paid for the land whenever a sale was
made. A purchaser, for a valuable consideration
and without fraud, should be quite safe in paying
his money and being entered on the register. The
claimants of various kinds should have the power,
on adequate proof of their interests, of applying
to have the purchase money impounded, to be
afterwards divided in satisfaction of their respec-
tive demands. If no such application was made,
the money would be paid, as a matter of course,
to the persons appearing in the register as the legal
owners.

Suppose such legal owners were only trustees,
and embezzled the money—let us ask which party
should, on principles of natural justice, bear the
loss? The purchaser, who has already paid the
value of his purchase ; or the person having an
equitable interest, who, or whose ancestor, ap-
pointed such trustees ? One would imagine that
there could be no difference of opinion in deciding
that the latter should bear the loss ; yet the legal
doctrine is that the purchaser is bound to see that
the persons possessed of equitable and other minor
interests ao
re
so, e
properly paid. This is, in practice,
found
inconvenient that in all well-drawn
deeds it is provided that purchasers from the par-
ties authorised to sell the subject matter of such
deeds, shall not be bound to see to the applica-
tion of the purchase money. The purchaser must,
however, still incur the trouble and expense of
finding out whether there are any other collateral
interests in existence to which such provision may
not apply, and' whether the vendor and his pre-
decessors in title had good titles conveyed to them,
and whether the vendor himself can now transfer
a safe title.

The landowners themselves have the strongest
possible interest in requiring that the mode of
transferring land should be freed from its present
complexities, delay, and expense. Whatever is
saved in this way, becomes added to the value of
the land. From two to five years' purchase would
be immediately added to the value of all the real
property in the kingdom, on the establishment of
a cheap and speedy mode of transferring land.

Any system of registration which required that
the deeds themselves, or copies of them (especially
such deeds as are now prepared and executed),
should be lodged in an office, would be a very
mistaken measure. This would only perpetuate
and render intolerable all the abuses of the present
system. What order could be established in a
registry so conducted? What building would be
sufficient for the purpose ? It is not by any such
bungling contrivance as this, that the evidence of
ownership of the public stocks and shares of va-
rious kinds is so clearly and satisfactorily evi-
denced. The result only is registered, being the
names of the owners and the identity of the pro-
perty held in such case. It is true that short
forms of transfer are executed, which are lodged
in the custody of the Bank or other Corporation.
Similarly short transfers of laud might be regis-
tered ; but not the verbose and unintelligible
conveyances which are now prepared.
If, in addition to the strict evidence of legal
ownership appearing in such registry books and
transfers, the owner of the land wishes to charge
it with legacies, annuities, and other minor
and subsidiary interests, for the benefit of
his family, the deeds prepared for that purpose
should remain in the custody of the parties them-
selves, and the charges thus created should be
good against all parties, except a purchaser for a
valuable consideration, without notice of them.
Whether, and to what extent it would be ex-
pedient to permit any notice of trusts and claims
of this nature to appear on the register at all, is
a question which the Legislature would have to
determine on the introduction of the new system
of registration. On the whole, we aro inclined to
think the principle adopted by the Bank, and by
all corporate and Joint-stock Institutions, of not
permitting any notice whatever of trusts to appear
in the registry, is the soundest system to be
adopted, and that which, in the end, would be
productive of the greatest amount of benefit to the
community. It is well known that the owner of
equitable interests in the funds, may prevent a
transfer of Stock by a restringas. A caveat against
the transfer of land might be allowed ; but, as
before observed, we should prefer that the form
of the remedy used in such cases should be di-
rected not against the sale, but to the preserva-
tion of the purchase-money, until all claims on it
were satisfied, after proper investigation ; just in
the same way as the Irish Encumbered Estates
Act is managed.
We should be glad to see this important sub-
ject of the Registration of titles to land submitted
to a committee of eminent Members of Parlia-
ment, assisted (but certainly not controlled) by
the opinions of some of the most enlightened
members of the legal profession.

THE QUEEN'S VISIT TO IRELAND.—We think that
we can now safely state that the Royal visit to the
Dublin Exhibition will take place about the 22nd of the
present month. It may be presumed that her Majesty
will proceed per sea to Scotland, visiting the Giant's
Causeway en route, and that the landing-point in Scot-
land will be Ardrossan. Balmoral, the Queen's High-
land residence, is situate in the eastern, not the western
Highlands.—Morning A dverti,ter.

LONDON AND NORTH-WESTERN RAILWAY.—We un-
derstand that the dividend for the half-year ending 30th
of June last will be at the rate of 5 per cent. per annum.
ROYAL NAVAL COAST VOLUNTEERS.—A supplemen-
tary estimate has been laid before the House of Com-
mons of the sum of 50,0001., required to defray the
charges which shall come in course of payment in the
year ending March 31, 1854, for the Royal Naval Coast
Volunteers.

THE CAPE.—Our advices by the last mail from the
Cape of Good Hope have confirmed the rumours that
had been prevalent of General Cathcart's early return
to England. Several officers are named for the Cape
command, but we think that in all probability that high
appointment will be bestowed upon Major General
Jackson. This distinguished officer, it will be remem-
bered, commanded the cavalry brigade upon the
occasion of the public funeral of the late Duke of
Wellington.
THE CITY POLICE.—Last evening a meeting of the
constables of the City police was held at the Flying
Horse Tavern, Milton-street, Cripplegate, for the pur-
pose of approving certain alterations which had been
made in a petition to the commissioner of the City police
for an increase of pay. Police constable John Foster
was called to the chair. The petition, as amended,
prayed for an increase of pay on account of the dearness
of lodgings within the City and the increased price of
provisions. It was approved and then signed by 300 of
the men.
BRITISH BENEFICENT INSTITUTION.—From the fourth
annual report of this excellent charity, which has just
been published, we are glad to perceive that its finances
are in a highly prosperous condition, and that its pros-
pects are most encouraging. Though only founded a
few years ago, for the purpose of affording permanent
incomes to the widows and unmarried orphan daughters
of persons once in affluent circumstances, or occupying
a high position in society, its operations have already
exceeded the most sanguine expectations. At the pre-
sent moment twenty-four annuitants are upon the funds,
receiving each 301. per annum, and the increasing sup-
port which the institution is enjoying justifies the hope
of a speedy extension of it sphere of usefulness.
UNITED KINGDOM BENEVOLENT ANNUITY FUND.—
A general' meeting of the friends of this institution,
founded to give permanent relief by allowing annuities
from 10/. to 301. to indigent persons of all classes, was
held on Saturday at the London Tavern, Bishopsgate-
street, for the purpose of electing three persons to an-
nuities from a list of 30 candidates ; the chair was taken
by George Henry Barnett, Esq. The Chairman, in
opening the proceedings, said he felt happy to see the in-
stitution progressing. From what he knew of the So-
ciety, he felt sure that it would .eventually prosper, and
in conclusion he trusted that it would receive that sup-
port which its merits deserved. (Cheers.) Mr. C. W.
Coleman then read the report, which stated that while
the committee rejoiced in the progress of the institution,
they were deeply affected by those vicissitudes which
characterise the lot of many in this world, and felt anxi-
ous to extend more widely the benefits of the institution,
which are to relieve the sons and daughters of misery at
a period when advancing years, protracted sickness, or
other calamitous circumstances rendered them incapable of
supporting themselves by their own labour. The report
then stated that the first election took place in February
last, when one male and two females were elected on the
funds, and concluded by making an earnest appeal for
increased subscriptions, to enable the committee to rescue
these objects of charity from destitution. Some routine
business having been transacted, the election of three
atlnuitants was proceeded with.

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK, THIS Ad r:

The sales of cotton at Liverpool yesterday were
estimated at 10,000 bales, of which 2,000 American
were taken for export and speculation. The mar-
ket was steady, but quiet, at previous prices. The
sales comprised 7,500 American, 150 Pernam and
Maranham at 6id. to 71d. ; 300 Egyptian at el.
to 10/d. ; and 2,000 Surat at 31d. to 40. ; and 60
Sea Island at 2s. to 2s. 9d. per lb. Railway Shares
were dull at about per cent. lower for all the
leading stocks.
A meeting of the proprietors of the General Iron
Screw Collier Company was held this morning,
and from the statement made, this new feature
in the coal trade appears to have answered well.
The following report of the Directors was adopted

"In meeting the shareholders for the first time, the
directors have much pleasure in congratulating them on
the very satisfactory position of the company's affairs,
and in being able to state that the anticipations of suc-
cess contained in the prospectus issued prior to its for-
mation have been fully realised. The advance which
subsequently took place in the price of iron, and in
wages, has, with other contingencies, necessarily in-
creased the cost of some of the company's vessels and
added to the expense of their navigation, but these dis-
advantages have been more than balanced by the rate of
freight realised, as compared with that calculated on in
the prospectus.

"So soon as sufficient capital was subscribed to justify
the commencement of operations, the directors entered
into a contract with Messrs. Palmer, Brothers & Com-
pany for building four vessels, the terms of which have
proved highly advantageous to the company ; and im-
mediately the state of the share register warranted such
a step, they entered into a second contract with the
same firm for building six other vessels. Of these the
following are afloat :—The William Hutt, the Sir John
Easthope, the Northumberland, the Durham, the Jar-
row.

" The directors deeply regret they are unable to in-
clude in this list the Countess of Strathmore, a vessel
which, not less than the others, had been found to answer
every expectation they had formed of her, but which
was unfortunately lost, with the captain and two of her
crew, in the tremendous gale of the 14th ult. She was
fully insured.

After mature consideration, the directors have
deemed it prudent to charter the vessels of the com-
pany with public and other well-established companies,
competent to keep them regularly employed in the coal
trade, and they have thus been enabled to secure, for
a considerable fixed period, a highly remunerative rate
of freight.
" It will be in the recollection of the shareholders,
that interest at the rate of 5 per cent. per annum has
already been received by them up to the 31st of March
last, and a reference to the accounts will shew that the
net profits have been sufficient to justify the directors
in recommending that a dividend at the rate of 7 per
cent. per annum from that time to the 30th June be now
declared in respect of calls paid upon shares. In respect
of money paid in advance of calls, it will be observed
that provision has been made in the accounts for the
payment of interest at the rate of 5 per cent. per annum
for the same period. After paying this dividend there
will remain a surplus of 1,2771. is. 9d.
" For the future the accounts for dividend will be made
up in June and December.
" It will thus be evident, that although much of the
capital has hitherto been unavoidably unproductive, a
larger dividend might have been declared than is now
proposed, but the directors considered that the perma-
nent prosperity of the company would be promoted by
the appropriation of a considerable portion of the re-
venue to the formation of a reserved fund. Such a fund
is, in their judgment, essential to placing the company's
affairs on a sound and enduring basis ; it will lay the
foundation of a depreciation fund, and if steadily main-
tained, enable the company to become the insurers of
their own vessels, and gradually to extend their opera-
tions.
" Since the first vessel went to sea, the cost of insu-
rance, and all expenses connected with the company's
transactions have been charged to the account of
revenue.

"The preliminary expenses incurred in the establish-
ment of the company have been very moderate, and it is
proposed to make provision for their gradual liquidation
out of the ordinary income.
"By the provisions of the deed of settlement, the
Board of Directors is to consist of not less than six nor
more than twelve members. Hitherto the number has
not exceeded ten, and although in a board so composed
a vacancy has occurred, the directors have not thought
it expedient to supply the place of the retiring member,
considering nine a sufficient number to conduct the pre-
sent operations of the company, and they recommend
that this number be not increased until the business
shall have been further extended.

" The directors who now retire by rotation are—Mr.
Hutt, the chairman of the company, Sir J. Easthope,
and Mr. Prinsep, who being eligible, offer themselves
or re-election ; as do the auditors, Messrs. Nicholson
and Adam, whose term of office also expires."

The Nelson, from Melbourne, has arrived with
25,000 ounces of gold. The Queen of England
brings 40,395 ounces, and the Beulah 11,000
ounces. This, with the large imports from Ame
rica and Mexico, makes an aggregate of consider-
able importance.

The total amount of stock converted at the
South Sea House is 1,297,2871. 19s.
The regular labourers employed at the London
and St. Katherine Docks have struck this morning
for an advance of wages, 6d. per day extra, and
are parading the neighbourhood of the docks in
large numbers. It is supposed that those who are
employed at the West India Docks will follow
their example. This is a different strike from that
of the men paid by the hour, and will entail con-
siderable inconvenience upon trade generally if
persisted in.
The English Funds have been extremely dull,
and the lowest quotations of yesterday afternoon
are current. The feeling as to a pacific termina-
tion of the Eastern imbroglio is much weakened
by the rumours which the telegraph almost daily
brings, but it is still felt that the firm attitude
assumed by the Allied Powers is much more likely
than any other course to bring about an arrangement.
Further truckling is condemned even by those most
anxious for peace, and it is hoped our ultimatum
really is to be acted upon. All business in the
money market is suspended, and the uncertainty
operates most injuriously upon all the wholesale
departments of business. Consols have been 97i
for both Transfer and Account. The New Three-
and-a-Quarter per Cents. have been 1018 to / ; and
the Three per Cents. 981 -. Exchequer Bills are
2s. discount to ls. premium. Bank Stock after
being depressed to 2271, has rallied to 229.
The annexed memorandum is from the Com-
mittee of Mexican Bondholers

" The Mexican packet has brought to the joint order
of Col. Facio and the chairman of the Committee of
Mexican Bondholders $15,655 86c. from Vera Cruz, and
$5,575 44c. from Tampico, together $21,231 30c. Ex-
clusive of these, there are are now at the Bank of Eng-
land to the credit of the dividends 71,3121. ls. Bd. Mr.
Falconnet's letter to the committee is dated the 2d ult.
In reply to his protest against the seizure by Govern-
ment of four months' produce of the revenues assigned
to the bondholders, the Minister *rote as follows :
" With reference to the protest with which your
letter concludes against the application of the funds
of the foreign debt to other objects, his Excellency
the President desires me to say, that it is noto-
rious that on taking charge of the supreme Govern-
meet he found the Exchequer empty and all the
revenues hypothecated, so that there was no money
even for the most pressing wants of the public service ;
for which reason all persons in favour of whom the
hypothecation of the Customs' duties had been made
spontaneously agreed to place the produce of them,
up to the end of April, at the disposal of the Go-
vernment, resuming their former rights again on the
Ist of May. His Excellency thinks that he ought
to expect equal consideration from the bondholders,
convinced as they ought to be of the conservative inten-
tions of the Government, without which there can be no
security for the fulfilment of even the most sacred en-
gagements ; and that the present Administration, while
yielding to an imperative necessity in disposing of the
funds assigned to the creditors, is already occupying itself
in devising some arrangements by which without imposing
new sacrifices on the bondholders, the punctual payment
of the dividends may be secured to them in a solid and
stable manner, as it is but just, and certainly the desire
of the Government for the sake of its own credit and
good name, that it should be.'
" Mr. alconnet, in his rejoinder, had again strongly
pressed all the proper points on the attention of Govern-
ment, and also made a formal application to Mr. Doyle
for his interference to protect the property of the bond:
holders. Mr. Falconnet expected in a few days from
the date of his letter to have an interview with his Ex-
cellency the President, to deliver a memorial from the
committee on the subject of the present state of the
foreign debt of Mexico and verbally to expatiate upon it.
The project of a bank in Mexico, which was to farm the
Customs' revenues and provide for the interest on
the foreign and domestic debts, continued in abey-
ance, but without having been wholly abandoned.
The new tariff was considered much too high to be
productive. It was said that the new duty on a bale of
printed cotton goods would amount to 110 per cent. on
its real value. The agents in Vera Cruz estimated the
probable amount of the bondholders' share of the import
duties there for the mouth of May at $63,000, and for
June at $62,000.

" The Government was rapidly increasing the army,
but had as yet failed in devising any measure to place
the finances on a better footing."

The foreign stock market has been very quiet,
but also well supported. Mexican Bonds have
been quoted 26k, being flatter • Peruvian have
risen to 84 ; Brazilian New Stock has been marked
991 to I. The Spanish New Deferred Bonds have
been at 231 and the Certificate at 6i ; Dutch Four
per Cents. ;lave realised 98 to
The Railway Share Market is feeble, sympathis-
ing with the English Stocks. The lines that rule
heaviest are Great Northern, Midland, South

Eastern, and York and Berwick. French Shares
are also rather lower. Lyons are down about I,
and Strasbourg k.
The Gold Mine Shares have been dealt in rather
more, but at very low rates.
The Land Companies' Shares continue heavy.
The Australian Banks are firmer.

BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
Bank Stock ......... .. ..... .... ..... 227L 9
3 per Cent. Reduced Annuities. ...... 98?; 6 i
3 per Cent. Consols Annuities 974 h i
New 31 per Cent. Annuities lOl/ ,3/4 i
Loug Annuities, Expire sth Jan., 1860
India Bonds, £lOOO . .. . 21
Ditto, under £lOOO 27
South Sea Stock
Consols for Account 11th August 974 4 i
Exchequer 2.5.115, ld.
£l.000
£5OO lp 2d
Small 1 p 2 d
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent
Ditto New, 1852, 43 per Cent 994 i x d
Mexican 3 per Cent.
Peruvian Bonds, 43 per Cent. B4
Russian Bonds, 5 per Cent.
Ditto 43 per Cent.
Ditto Small
Sardinian Bonds, 5 per Cent.
Spanish Bonds, 3 per Cent 474
Ditto New Deferred, 3 per Cent 23/ a ii-
Ditto Passive (Converted)
Spanish Committee Cert. of Coup. not fun 62 4 p c
Swedish Loan .......
Dividends on the above payable in London.
Dutch Exchange, 23 per Cent.
Ditto 4 per Cent. Certificates .....,_ 9BA 8
THREE O'CLOCK.

Consols 978
Ditto August Account 9711

LITERATURE.

The Quarterly Review. No. CLXXXV.

Scarcely as attractive as usual, from the recon-
dite nature of several of the subjects selected for
criticism in the present instalment, the Quarterly
nevertheless secures some notice from the more
observant, if only for the various merit of three
out of the eight current contributions. Compara-
tively few will feel tempted to examine the paper
having reference to the curious " Annals of the
Kingdom of Ireland, by the Four Masters," re-
cently edited, with copious notes, by John O'Dono-
van. Several of the inquisitive observers of the
progress made of late in the yet further entangle-
ment and complication of what is called the
Eastern Question, may be disposed, at the first
glance, to scrutinise the chapter relating to the
ingenious "Etudes sur la Situation Interieure, la
Vie Nationale, et les Institutions Rurales
de la Russie," written by the Baron Auguste
de Haxthausen : but a few pages will clearly
enough indicate that but small information
can be expected from that quarter to throw light
upon the mysterious events now taking place in
the council chambers at St. Petersburgh and Con-
stantinople. Every one interested in the develop-
ment of the extraordinary changes set on foot by
the Oxford Tractarians will be eager, no doubt, to
peruse the reviewers' comments upon what are
here boldly pronounced (in italics at the head of
every page) " Ecclesiastical Forgeries," as collated,
revised, and weighed in the balance, by E. J.
Shepherd, Rector of Luddesdown. Seyond that
circle, however, we fancy that few will be induced
to read those same documents carefully through-
out. As to the notice subsequent taken of Signor
Ruffini's Autobiography, it may be conjectured
with some reason that by this time we have had
enough, and to spare, of references to, and quota-
tions from, and advertisements about, the vera-
cious " Lorenzo Benoni." Respecting the old Tory
Quarterly's strictures on the Palmerston Policy,
it may be well imagined that enough virulence and
vituperation are compacted together for one while,
under cover of a dispassionate criticism on the two
volumes relating to " Lord Palmerston, l'Angle-
terre et le Continent," penned by the Flemish-
born Austrian, Count Ficquelmont, who was
despatched in 1847 to overawe the discontents in
Lombardy with the grandiose title of Imperial
Commissioner. If any doubt could, by possibility,
be entertained as to the probable tone of this par-
ticular contribution, it would, we conceive, be
speedily enough dissipated by the candid avowal
of the reviewer in question at the outset of his lu-
cubration the avowal we mean in reference to
the present Home Secretary's summary and un-
ceremonious ejectment from Lord John Russell's
Government. "We trusted," says he, " that a
better era had opened on our policy, and that
amicable, really amicable, [the italics are the
Quarterly's, not ours] relations would be resumed
with our ancient allies"—meaning thereby, of
course, ancient allies like the Austrian Kaiser and
the Russian Autocrat ! The " better era" signify-
ing an era of cringinc, and abasement on the part
of Western Europe before the pride and arrogance
of Northern Absolutism. The " amicable, really ami-
cable relations," meaning relations in which every-
thing would be subordinated to the development
of the policy of the Czar. After this enough has been
remarked to induce the majority, we conjecture, to
look elsewhere than to this new instalment of the
Quarterly for a calm and discriminating balance
between the acts of Lord Palmerston and the as-
sertions of Count Ficquelmont. Having mentioned
these five diversified contributions, we find now
remaining the three meritorious papers already re-
ferred to, but not yet particularised. Conspicuous
among these, is an elaborate article on " The Ox-
ford Commission." According to the opinion of
the reviewer, the commissioners are—" and," says
he, " we might use a harsher word "—enthusiasts.
He adds, that, among other things, " they have
treated the university like the most insatiable
carpet bag : stuffed it with legislators till it can-
not stir, crammed it with teachers till its head
turns round." Nay, he concludes his strictures by
declaring that " from such a temper [as that of the
commissioners] has proceeded a scheme of univer-
sity reform, of which the university constitution is
a blunder, the university instruction a theory, and
the university extension a joke." So much for the
Quarterly's notion of the Oxford Commission.
Another of the more alluring papers in the current
number of our contemporary is a discursive and
depreciatory review of the " Memoirs of Thomas
Moore," edited by Lord John Russell. In the
course of this review but stinted praise of any kind
is awarded to the Posthumous Papers of the Bard of
Erin—the vanity displayed in which is treated with
churlish scorn, as altogether unpardonable. Car-
ried to such an extent of severity, we cannot but
think this churlishness somewhat blundering and
illogical—for inasmuch as some amount of vanity
must be supposed to originate every literary pro-
duction partaking of the character of an auto-
biography. Either a man or woman, as the case
may be, must imagine himself or herself to be of
some interest or importance in the estimation of
the world, or he or she would never dream of not-
ing down particulars illustrative of domestic life
and personal temperament. It appears to us, con-
sequently, rather unfair, to say the least of it, to
visit upon the head of poor Tom Moore the weak-
nesses attributable more or less to every writer of
autobiography. It may be observed, by the way,
that the reviewer, in the indulgence of his some-
what amusing spleen, quotes with humorous apti-
tude four lines from Moore himself (vide his
" Works," p. 520) as being applicable to these
" Memoirs" edited by Lord John Russell :

" With crumbs of gossip caught from dining wits,
And half-heard jokes bequeathed like half-chewed bits,
With each ingredient served up oft before,
But with fresh fudge and fiction garnished o'er."
Rather apt, we take it, as an illustrative
quotation—remembering that correspondence
the other day (in reference to 'these
indentical " Memoirs") between Lord John Rus-
sell and the Marquis of Londonderry ! Mention
has still to be made of the only other contribution
of the Quarterly not yet individualised—we mean
the enthralling treatise, as we may call it, on the
" Generalisation of Comparative Anatomy.
Richard Owen has obtained in this another of those
splendid and, let us add, those nobly-deserved
panegyrics, which his vast labours and his surpris-
ing genius have commanded, even from his imme-
diate contemporaries. It is remarked at the close
' of this really admirable paper that Cuvier once,
with an instinctive prescience of coming revela-
tions, asked, " Why should not natural history
one day also have its Newton ?"—the reviewer
adding thereupon, " The best proof of the reason-
ableness of that question we hold to be the success
which has attended the last researches of Cuvier's
English successor"—meaning, of course, thereby,
Richard Owen, the man who has been justly styled
by Humboldt the most illustrious anatomist of his
generation. Testimony of the perfect accuracy of
this most eulogistic assertion need not be sought
elsewhere than in Oweu's immortal lucubrations
" On the Nature of Limbs," or " On the Architype
and Homologies of the Vertebrate Skeleton"
works works in every way authorising the application to
him of that glorious title, the Newton of Natural
History.

TIM METROPOLITAN COMMISSION OF SEWERS.—Yes.
terday a further Parliamentary paper, obtained by Sir
B. Hall, on the metropolitan sewers was printed. In
1851, from October, the payment for management (sine•
the passing of the Amendment Sewers Act, in 1851)
were 3,2901. 13s. 10d., and the payments for local su-
pervision of works 2,3411. 16s. ld. In 1852 the pay.
meets for management were 14,5511. 9s. 9d., and fi)r
local supervision of works 6,478/. 2s. 7d. In the preseLt
year, to the 30th of June, the payments for manage-
meat were 8,7611. is. 11d., and the payments for local
supervision of works 3,1661. 15s. 6d. .•