The Sun.
London, England, 1854-05-20 00:00:00

TFIE.SUN, LONDON. SATURDAY EVENING. MAY v.o, 3P34.

be regarded as the type, is arisen even in the
Conservative ranks.

We observed that it was unjust to all the more
generous and liberal Churchmen also. Why, it
was but the other night in the House of Lords,
that the Bishop of OXFORD himself, following the
Earl of ABERDEEN and Earl NELSON, opposed the
Earl of WlNonmsze's resolution about the defi-
ciency of church accommodation, on the ground of
the wonderful liberality of Churchmen since the
Government grants have ceased in the erection of
new churches ! The Bishop had the fullest con-
fidence in the efficiency of the voluntary principle
for the erection of new churches, and most com-
pletely does the report of Mr. HORACE MANN,
which was of course appealed to, justify that con-
fidence. But what, then, can be more unrighteous
than that one old parish church in a district,
which certainly never cost the worshippers a
penny for building, which was probably taken
from the Roman Catholics by their forefathers,
should be repaired by rates levied upon Church-
men who have contributed large sums to erect
their own district church, and iiiust still contri-
bute to its repair. Besides, worshippers in the
district churches are not, like Dissenters, to be
exempted from paying the second rate for the
furniture and worship of the old parish church,
having at the same time to pay by voluntary sub-
smiption their own current expenses ! We trikst
so unworthy a proposal-will- share the fate of the
" innocents" of the session, many of which were
worthy of a better fate ; but as the debate is ,at
hand on Sir W. CLAY'S motion for the entire
abolition of Church Rates, we refrain at present
from further remarks.

A morning journal, 'which has often been
charged with being in the interest of Russia, pro-
pounds a plan for treating Turkey like the Pun-
jaub. The effect of this is manifestly to serve
Russia, by strengthening the hands of the party
in Turkey who are opposed to European alliance.
A hundred thousand men would not be so effec-
tive. There is no help for a thing like this ; it
was one of the dangers which ought to have been
met by augmented activity and energy. The
most fortunate circumstance in the way of coun-
teraction is the presence of both an English
and a French army. Before they can occupy
Turkey like the Punjaub, they must agree on the
division ; and when villains proceed to a division
of this kind, they often fall out, and the almost
certainty of the fact is a security to honest men.

MONEY MARKET

AND

COMMERCIAL IIV T ELLTag NCR
CITY, TWO o'C LOCK

There was a fair demand for cotton at Liver-
pool yesterday, but the market continued without
animation. Sales 6,000 bales, including 1,000
on speculation. Railway shares were firm.
Some interesting particulars of the tallow mar-
ket are supplied in the following communication
from Messrs. Smith and Charles :

"The Petersburg advices to-day are to the 29th April
(11th May). Since the last mail from 4to 500 casks
had been taken on the spot, at 130 and 131, and 400 in
the interior at 125 and 126. It is mentioned that the
cost of land carri ige was likely to increase, and that in
consequence of the heat it would soon be difficult to
carry tallow on wheels. There were buyers of tallow
delivered at Koona at 165 Rs., higher prices being de-
manded.

" The chief point of interest in relation to future sup-
plies of Russian produce is, of course, the prospects of
carriage overland to the neutral ports. On this subject
there is no further information to-day, beyond the opi-
nion expressed in the letters from Petersburg quoted
above. It seems, however, highly probable that the
difficulties have been underated in many quarters ; and
as one proof of this, it is maintained that they must be
great, inasmuch as tallow which left Petersburg six
weeks ago has not yet arrived at Memel."

The effect of the Australian bullion arrivals in
supplying the means of remittan e to the Continent
is observable in the weekly return of the Bank of
England, made up-te -gaturday last, for although
the discounts largely increased, and the private
balances were drawn upon, the diminution of specie
was but trifling. The Bank, however, in order to
contract its circulation, and encounter the demand
upon it, sold Government securities very largely,
and was assisted in some measure by the increase
of public deposits. Compared with the previous
return, the alterations are as follow :
Active circulation.., £21,143,990
Decrease ...... 830 310
Bullion 12,589,366
Decrease
Rest
Increase 10,035
Public Deposits - 2,748,437
Increase . 409,615
Other
DDepositscrlncreaseease 10,587.010
Decrease
Seven-Day and other Bills
53,068
Government Securities 11,625,492
Decrease 941,115
Other Securities 15,144,039
394.579
Notes unemployed 4,713,280
Increase
The steamer Colombo, of the Peninsular and
Oriental Steam Navigation Company, takes out
122,6311. to-day from Southampton, of which all
but 18,4061. is in silver, and the bulk for China.
There was an improvement yesterday afternoon
in the rates of exchange upon all the principal
continental cities except Paris, which was taken at
25 25 to 27i for 90 clays' paper ; Amsterdam was
at 11 151 to 16,} ; Hamburgh at 13 51 to 6 ; and
Trieste at 13 50 to 55.
The treaty between her Majesty and the Argen-
tine Confederation for the free navigation of the
rivers Parna and Uruguay was ratified at Parana
on the 11th of March, and seems clearly to define
the purpose intended.
The number of gallons of proof spirits on which
duty was paid for home consumption in Ireland
during the year ending the sth January last was
8,136,632. The number of persons detected in
offences against the laws for suppressing illicit dis-
tillation was 2,740, while in the year 1853 it was
2,904. The number of persons confined in the
several jails for the same causes was 293 last year,
or not much more than half the number in 1853.

The ship Kangaroo has-arrived oft the coast from
Port Philip with 10,111 ounces of gold on board.
She does not bring► later dates.
The United States Mail Steamer, Union, has
arrived with dates of May 6 from New York, and
1,500,000 dollars in specie, principally for the
Continent. Her letters are just delivered. Public
Securities were rather unsteady. Flour was
steady. Ord. to choice state 8 to 8i dollars.
Cotton drooped. Freights were dull. Cotton to
Liverpool 5-16 d. Continental and British fabrics
were languid.

The transfer books at the Bank of England close
as follows :—Consols, 3/ per Cents., 2 per Cents.,
New 5 per Cents., and the Annuities of 1863 and
1880, on the 7th June. India Stock, the Bth. The
re-opening will take place July 19, except for
India Stock, in which transfers will be resumed
July 13.
_ _ _

Business in the Stock Markets is extremely dull
this morning, most parties being absent, and having
taken advantage of the fineness of the day. Con-
sols have re:Ala.:ld -89A,t0 i-for transfer, but have
gone back to 89 aud.BBl for account. Exchequer
hills are 2s. discount to ls. premium, and East
India Bonds 12s. discount. The New 3/ per
Cents. have been 83 to 89. The intelligence
from the seat of a war is not of a nature to produce
material fluctuation.

Although the market for English Railways
not very brisk, the quotations are well maintained.
Great Northern have been a shade better, and als.
South Eastern York and North Midland, North
Western, and South-Western. Caledonian are
about the same. The French lines are much
quieter, and not quite so buoyant. Luxembourg
Constituted Shares have improved.
The Gold Mine shares are neglected, but Agua
Fria have been dealt iu at the previous rates.
Foreign Stocks have been as dull as our own.
A few bargains have been entered into in Spanish,
at 384 to 391, for the 3 per Cents., 18Z- to 19/ for
the Deferred, and 31: for the Committee's Certifi-
cate. The idea of making 4 forced loan is stated
to be still entertained at Madrid. Dutch 4 per
Cents. have realised 871 to 881, and the 21 per
Cents 591. Nothing has been done in Russian.
The Shares of the Joint-Stock Banking Com-
panies are generally higher again, Australasian
having risen about 21., and Oriental 11. to 21.
The Australian Agricultural Land Shares are a
shade lower, but South Australian are at full rates.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( From the Official List.)

Rumness don..
per Cent. Reduced Annuities .............. . 88 74
3 per Cent Consols Annuities ............. ... 89f 4
New 34 per Cent. Annuities .................. 884 9
India Bonds, £IOOO
Ditto, under 21000
~. 12 d
~.ionsole for Account ctli Juno ..... .. ....... 89,i 8/
Exchequer Bills, 2d.
tIOOO
2500 .......................................... 2 d 1 p
Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Spanish Bonds, 3 per Cent 38.4 94
Spanish New Deferred, 3 per Cent. lB6 19A
Spanish Committee Cert. of Coup. not fun. 3i

Dividends on the *hove Davahte in Loudon.
Dutch Exchange, 2i per Cent. 12 Gull 594
Ditto 4 per Cent. Certifieatee.....
TWO O'CLOCK.
Console BBi 9
Ditto June A ccou, .8i 9

LA FEST FOREI(IN NE \VS..

THE WAR.
RENEWAL OF THE ATTACK ON
SEBASTOPOL.

The Fremden, Blatt, which is generally well in-
formed, has news from Gala,tz to the 11th instant,
which states that a Government messenger had
brought reliable intelligenoe that Sebastopol had
been bombarded during four days.
Another telegraphic despatch from Bucharest,
says that the bombardment of Odessa has been re-
newed. The damage done is already considerable.
The main body of the combined fleets, under
Admiral Lyons, has been attempting the bombard-
ment since the 10th.