The Sun.
London, England, 1838-05-23 00:00:00

E. DE PONTOIS.

To the Hon. J. Forsyth,
Secretary of State of the United States.

Extract from the despatch of the Baron Deffaudis, dated
April 15, 1838.
" On board his Majesty's frigate l'Herminie, at anchor off
Sacrificios, near Vera Cruz.

" I. No neutral vessel proceeding towards the entrance of
the blockaded ports shall be detained or captured, if she has
not previousl) received from one of the vessels of the French
division, a special notification of the existence of the blockade.
This notification shall be moreover inserted in writing on the
muster roll of the neutral vessel, by the cruiser which meets
her; and it shall contain the announcement, together with
statements of the day and the latitude in which it was made.
" 2. Neutral vessels which may be already in one of the
ports of the Republic, for the blockade of such port, will have
full liberty to depart, with or without cargo, within fifteen
days, dated front that upon which the blockade is established.
" 3. The ports of Vera Cruz and Tampico will remain en-
tirely free for the entrance and departure of the Post-office,
military, and non-commercial packet vessels.
4. The ports of the Mexican Republic shall remain en-
tirely free for the entrance and departure of Mexican
bcrti eogaged in fishing, unless the French naval division shall
be !,,reafter forced, in retaliation, to withdraw this benevok•rt
dis Asition."

-,ee Sir, that M. Bazoche is desirous of confining him-
ou
p!,ovrnen.t of the mildest measures of restraint, for
sel. co the
the the reparation due by the Mexican
em
i‘urposes of obta;;:biug
G. ernment to France, unless fresh attacks upon the persons
or property of the King's subjects residing in Mexico should
require him to adopt means decidedly severe. Now this per-
sistance in the system of moderation indicated by the ultima-
tum, is rendered worthy of praise, after the recent conduct of
the Mexican Government, which, in tolerating, (if it did not
even provoke by its official writings) the publication of the
most odious calumnies respecting our intentions to conquer
the country, to dismember its territory, &c. did not hesitate
to expose to the fury of the populace, with the sole end of
maintaining itself in power, not only our countrymen, but like-
wise all foreigners established in the territory of the Republic.
This conduct is contrary to the laws of honour, of civilisation,
and of humanity. You also see, Sir, from the principles
adopted by M. Bazoche as the rules of his conduct, that it is
our desire to preserve neutrals from all the restrictions and
difficulties (entraves) which are not absolutely indispensable
for the purpose which we arc endeavouring lawfully to effect.
I am also happy to be able to state to you a circumstance
which proves our sincerity upon this point, especially so far as
relates to Americans. On this very day the commander of the
sloop of war Ontario called on us on board the frigate l'Her-
minie, to speak to us respecting the approaching arrival of the
packet Ann Eliza, engaged in commerce, and in carrying let-
ters from New York. We were obliged to express to him
our regret at the necessity under whic we should be of for
bidding this vessel from entering Vera Cruz, as we should also
do with regard to our own mail packets from Havre. But we
have, at the same time, promised that officer at his own re-
quest, to allow the consignee of the Ann Eliza to communicate
with her at sea, to receive her letters, and to give irstruction
with regard to her future destination.
Accept, Sir, &c.
BN. DEFFAUDIS.

Latest dates from all parts of the Old World, received at
New York, April 9.3, the day of the arrival of the steam-
ships

Bristol,
London,
Liverpool,
Cork, 2,
Havre,
Paris,
Brussells,
Berlin,
Madrid,
Vienna,
Trieste,
Leghorn,
Toulon,
Naples,
Constantinople,
Alexandria,
Smyrna,

Evening, April 7, 15 days.
... 6, 17 ...
... 6, 17 ...
.... 4, 19 ...
... 5, 18 ...
... 5, 19 ...
•... ... 3, 20 ..
Mgrch 28, 26 ...
... 27, 27 ...
... 27, 27 ...
... 27, 27 ...
... 23, 31 ...
...... ... 21, 33 ...
... 17, 37 ...
6, 48 ...
... 4, 50
... 1, 53 ...

( From the Morning Courier and New York Inquirer of May 7. )
BLOCKADE OF THE MEXICAN PORTS.-The blockade of
the ports of Mexico by a squadron of France, as officially de-
clared by the officers of that nation, did at the first blush
appear to us rather too latitudinarian in its conditions. In the
first place, it wanted the previous notice to neutrals, which
England, when her blockading system was in the full tide of
operation against France, never failed to give, and the absence
of which is attended with positive injury to neutrals. The
Ann Eliza, from this port, is a case in point. This vessel's
voyage is totally cut up and destroyed by this act of a power
with whom we are at amity—an act which those concerned in
her equipment could not foresee. In the next place, the
blockade is so general, that it is utterly impossible that an
efficient one can be kept up, or at least, that an efficient
blockade existed at the time one was declared on paper. There
are the ports of Mexico in the Gulph of California—it is
not pretended, we believe, that there is a French squadron
bef,ire them, and yet all the Mexican ports are declared in a
state of blockade.
On general principles, these objections would certainly ap-
ply to the declaration of blockade in question; but we have
some recollection of a treaty having been made between this
Government and France, defining the conditions on which
each power should be at liberty to institute blockades. We
are not :-,pte able to put our hand on this treaty, but if its
stipulations are compatVe with this act of the French Govern.
ment, there is of course, nothing more to be said on the subject,

By 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 28.
BLoczIDE OF MEXICO BY FRANCE.—The sell( o.ar Sarah
Ann, Captain Bontemps, which cleared from this port for
Tampico, on the 16th inst. returned yesterday. Her Captain,
resorts that he was entirely unable to enter the port of Tam-
pico, by the French blockading squadron, consisting of thir.
teen vessels of war, which precluded any communication what.
ever with the port. The Sarah Ann has brought her 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, aid will be followed by the
warmest wishes of the whole community for her prosperous
vJyag,e. We perceive by the Liverpool papers that a Compa-
ny is now forming there with a carital of 500,000/. to build
steam-boats to run between Liverpool and New York.

The Sirius, it is intended, shall make two more voyarrcs to
New York, when the British Queen, building by the British'
and American Steam Navigation, will be ready to take her
place.

LATER FROM EUROPE.-The Liverpool packet ship United
States, Capt. Holdridg,e, arrived yesterday, and brings us
papers from London to the 7th 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
Harve packet ship Francois I, Captain Pell, arrived yester-
day with Paris and Havre Papers to the 31st March. The in-
t .Iligence 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 event,
passing there, is more complete.
( Correspondence of the Courier and Enquirer.)
WASHINGTON, May 5, 1838.—Whatever may be the past
or present positie.i of Mr. Biddle, be assured that the Presi-
dent does not "sit in his arm chair, as calm as a summer's
morning." One of the strongest marked features in the cha-
racter of Mr. Van Buren, is that of caution. He never talks
iFmsense. He never permits his feelings or his temper to get
tlie mastery of his judgment. In the convivial or social cir-
cle he may speak freely and apparently carelessly, yet he sel-
dom commits himself by an indiscreet expression. In short,
11..1 is a man of come tact, (but always overrated in this par-
ticular) much self-command, and uncommon prudence. Not-
withstanding 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-
rectly, or through the Secretary of the Treasury, a message
to Congress, early next week, on the want of money--money
—money. I know that he has it in contemplation, but he
may be restrained by some of his friends. Such a communi-
cation would be intended, I presume, as an app; al to the
people, cautiously complaining of the minority in Congress;
for that naughty minority will not let the majority do as they
pleas.;, without exhibiting before the country the deformity of
their proposed measures, and the evil consequences that must
follow the adoption of them. And then, as soon as this exhi-
bition is made, a portion of that majority, instantly shrink from
the support of them, and leave the managers to devise some
new scheme for hoodwinking the people, and reaching their
pockets with greater facility.
Mr. Van Buren, in conversing with his friends recently,
has spoken with more freedom than is his wont. Various ex-
pedients for raining money have been suggested. Some of
them, it is believed, the Secretary of the Treasury would
have embraced if left to himself. But the President, with the
caution to which I have referred, seems determined, in these
troublesome times (as a lawyer would say) not to travel out of
the record. In this he is performing his duty; he is right—
the law should be his guide. He should present to Congress
the true and honest state of public affairs, and where legisla-
tion is necessary, let them determine the proper time for ac-
tion, even, to use the language of the President, " if the
wheels of Government stop."
I have already informed you, that the repeal of the specie
order was considered by the Western Banks necessary to their
security, in the event of their resuming specie payments.—
Ohio and Indiana are deeply interested in this question. The
subject has been pressed upon the friends of the Administra-
tion here with much zeal. My own opinion is, that the Presi-
dent will adhere to this order, although it is now universally
admitted that it was an act of gross usurpation, unequalled by
any thing but the ignorance and folly which originated it.—
While this is my opinion, it is proper to add, that I have con-
versed with intelligent men from both these States, who con-
sider themselves well informed on the subject, and who rely
with entire confidence on the order being rescinded by the
President, and that soon.

Notwithstanding the immense amount of specie that is daily
arriving in the United States, and has been for some weeks
past, it does not seem to reach the Treasury, in time to meet
the wants of this sagacious, prudent, economical Administra-
tion. Almost every department of the Government is daily
running the country in debt. Disbursing officers are raising
money through brokers, on their own official drafts, payable
when the appropriations are made. In what now app;ars to
be a general scramble for the money that is to cosme into the
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 I 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 on Stocks or
Treasury notes ?

While the Treasury Note system is a most disgraceful im-
position upon the community, as a temporary expedient to re-
lieve a bankrupt Administration, it has been tolerated for a
time, and may, possibly, be tolerated a little longer. But it is
as alarming suggestion, that these notes, when they come into
the Treasury, are ❑ot to be cancelled, but re-issued at the plea-
sure of the Secretary. I know not how the proposition can
be discussed in Congress with moderation. The Treasury,
under the direction of the President, through the Secretary,
would thus become an enormous paper bank, flooding the
country in every direction with irredeemable notes. To talk
of checks and restraints upon the department is worse than
ridiculous. As well might you /lump!: to bind hand and foot
a young Sampson with cobwebs. Everything must depend
upon his honour and fidelity, and the honour and fidelity of
those he employs. There are banks that deem it insecure
ever to re-issue a note, and therefore cancel immediately such
as come into their possession. . .

As to Mr. Cambreleng's other proposition, to issue a class of
notes that should not be receivable in payment of our dues to
the Government, it is so much at war with the fundamyntal
institutions of the country, and the common honesty notions of
our people, that I cannot suppose it would receive fifty votes
in the House. I have much to say, but "there is a time to
sow and a time to reap."
THE SPY IN WASHINGTON.

MONEY MARKET, &c.—May 7.
A moderate business was transacted at the Stock Exchange
on Saturday, in many cases, however, at improved prices.
United States Bank sold at 116 ; Phcenix Bank 1001; De-
laware and Hudson Canal Co. 72 ; and Harlem Railroad Co.
58. No transactions at the l.ioard in Treasury Notes, which
continue: at + discount a par.
Sales of Sterling Exchange for transmission by the steam
ship Great Western, were made to a moderate extent on Sa-
turday, at 61 a 7
per cent. premiums, as the vessel, how-
ever -does not leave till two o'clock r. m., this day further
transactio--s will no doubt be effected. On France, Bills
ranged at sf. 35 a sf. 3.
The Butchers and Drovers' Bank have declared a dividend
of eight per cent. for the year ending Ist February last. Also,
the Commercial Bank, a dividend of a like amount. The
State Bank of Albany, and the Bank of Albany, and the
Cayuga Co. Bank, have also divided, the first mentioned 10,
and the two latter 8
per cent. for the last year.
The acting Trustees of the Phenix Insurance Company of
this city, will pay a dollars per share to the Stockholders, at
their office, 216 Washit gton-street, on the 21st inst.
The Board of the new Bank of Tennesse, met at Nashville
on the 28th ultimo, when it was resolved that the Board meet
on Tuesday the fifteen of May, for the purpose of locating the
Branches of the institution, appointing Directors for each
Branch, &c., according to the terms of the charter.
'Firs Banks of Michigan, it will be remembered, must, ac-
cording to the terms of Suspension Act, which expires on
the 16th instant, resume specie payments on that day, or for-
feit their charters. Their case appears a peculiar one, and
we learn that it is probable a special meeting of the Legisla-
ture will be nailed to take the matter into consideration. The
Buffalo Commercial Advertiser contains the following remarks
on this subject. The Chartered Banks of Michigan have
been managed with as'much ability and honesty as any Banks
in the country, they are in as good a condition as the Ohio
Banks, but they cannot resume without running the greatest
hazard of being fore, (..1 to suspend the second time. The
trouble is, thct Michigan has no surplus products—the balance
of trade is continually and heavily against her.
Ohio, on the contrary, has a large surplus. The bills of
her Banks, although in fact they may not be one whit better
than those of Michigan, will purchase pork, wheat, flour, &c.,
which sent to New York or any other Eastern market, will
command cash. This fact gives Ohio bills currency, and keeps
them up nearly to par, while Michigan notes are at a discount
of from 12 to 15 per cent. The Ohio Banks could resume
without danger, because balances are due to that State from
every quarter.
The Charleston Mercury of Monday last, states that the In-
surance Offices of that city, will, it learns from undoubted
authority, be able to pay every dollar for which they are liable.
We have the Texas Telegraph to the 14th ult., from which
we learn that the amount of imports received at Galveston
during the last three months, is somewhat over 250,000 dol-
lars. The amount of duties received at the Custom-house or
that place during the quarter closing on the 3lst day of Mang],
was 51,000 dollars. Should the commerce continue to in-
crease thi oughout the current year at the same ratio as the in
crease of the last three months, the present issue of promissory
notes would be insufficient to meet the revenue demands.

except that we think it very unwise on our part ever to have
consented to a stipulation which deprived us of the right of
previous notice. If they do not, we hope Mr. Forsyth will re-
monstrance against this breach of the law of blockade a:
generally understood.
In regal dto the effect on Mexico, of this declaration of
France, as the revenue of the Mexican Government is en
tirely derived from the custom-houses of Vera Cruz, Tampico,
and Matarnoras, and as this is the chief source on e hith it
must depend for the payment of the troops, we think there is
very little danger in predicting, that it must submit to the
conditions imposed on it by France, or that a revolution will
take place in the Government, and that the federal form will
be substituted for the present, when those who then come into
power will have no difficulty in making the submission re_
quit ed. Then, however, the question occurs, if le feu vast 11
chandelle.