The Sun.
London, England, 1854-03-15 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, MARCH 15, 1854

although not going far enough, were yet decidedly
in the right direction. The veteran Jos EPH
HUME, and the Leaders of the Liberal party, had
given unqualified expression to their opinions on
the subject. It was, indeed, universally acknow-
ledged that the tax must either he repealed or
modified, and an equitable adjustment did not
appear very difficult. One person only stood out,
but he was unfortunately the most important, in-
asmuch as it fell within his department. Even he

acknowledged the injustice which he felt himself
unable to redress. His proposition for the re-
newal of the Income Tax in the existing form
would have been rejected by an overwhelm-
ing majority, had it not been for the provision
which he made for its early reduction and
ultimate extinction. The people felt that they
would not enter into a dispute about an impost,
the days whereof were numbered. They, there-
fore, accepted the pledges given, and granted what
was demanded at their hands. The sanguine hopes
then excited have, however, been dispelled. The
illusion has for ever vanished. They find that, in
place of being reduced to sd. in the pound, that
it is to be increased to ls. 2d., for few indulge in
the hope that a supplementary budget will not be
brought forward before the close of the session,
and the double tax asked for at least another half
year, if not for a further period. It is time, then,
that an exertion should be made for the equitable
adjustment of the tax. Let the fiscal reformers
—we particularly look to Mr. Hums—dis-
charge their duty to their constituents and
the country, and inform Mr. GLADSTONE
that though perfectly willing to give him
all that he requires for the efficient and
vigorous -waging of war, and also doing it by
way of an increased income tax, they cannot yield
their assent unless a pledge be given that the
system shall be materially modified, and a distinc-
tion recognised between the proceeds of accumu-
lated and realised property and the hard earnings
of industry.

MONEY MARK,c.,

A ND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK

The sales of cotton at Liverpool yesterday were
estimated at from 3,000 to 4,000 bales, all to the
trade. The market closed very tame, with prices
in favour of buyers. The sales include 350 Egyp-
tian at 60. to 84d., 50 Sea Island at ls. ld. to
ls. Bd., and the remainder American. Railway
Shares were flat.

Accounts from St. Petersburgh of the Bth inst.,
state that from the previous day the capital and
the Baltic provinces had been declared to be placed
upon a war footing (kriegszustand). These pro-
vinces will be under the command of the Crown
Prince, and the " state of war" will be the same as
in the Chersonese, the Crimea, and Bessarabia.
The scarcity of horses is felt in most parts of the
Continent since the increased armaments corn-
menced. The Belgian Government contractors
gave very high prices in Luxemburgh last week,
and parties who would not sell at the fair on the
Ist inst., at 300 to 400 francs, have obtained since
500 to 600 francs.

The ship Stretford has arrived from Sydney,
with dates of Dec. 2, which are not quite so late.
She has but a snail amount of gold on board.
The demand For money is increasing and there
are more bills dcing at 5 per cent. than there were
a short time back. The quantity of specie being
sent away to the Continent, and the fact of the ex-
change keeping so high in China, is against our
retaining either gold or silver, and the Bank of
England having, at the same time, to assist
the Chancellor of the Ex chequer in meeting
his quarterly payments, -will find its assets
fully employed, even if private traders do not more
freely apply for discounts ; and now the rate is
near 5 per Cent., the Lombard-street houses will
find the Bank of England more resorted to.
The suspension of the firms of Gladstone, Bond,
and Co., of Manchester, for about 100,0001., of
which 80,0001. is said to be in bills, with
the failure of T. M‘Gregor, of Cheapside, for
50,0001. to 60,0001., and Messrs. Warwick, Har-
rison, and Co., of the same place, for 15,0001., has
brought under discussion the existing state of trade
generally; but we believe Ito fear need be enter-
tained of many large stop pages. The house of
Dickson and Co., at Glasgow, is expected to pay a
good dividend, having made considerable profits in
the early period of the gold discoveries; but a point
of almost equal importance with the amount is the
date at which they will pay. This, we apprehend,
will depend upon the realisation of the assets at
Melbourne.

Bills of Exchange upon the principal Continental
cities were taken yesterday afternoon at rather ful-
ler rates. Paris, 90 days, 25 224 to 27k; Amster-
dam, 11 141. to 15 ; Hamburg, 13 a} to 34 ; and
Trieste, 13 10 to 15.
The English Stocks are extremely dull, and with-
out change in value. Co nsols have been 91 to 911
for transfer, and 91 for the April aceount. The
settlement takes place to-morrow. Exchequer-bills
have been 10s. to 13s. prem. At present there is
a complete lull in speculation, and the greater de-
mand for money checks investments.
Foreign Stocks have beau merely nominal, and
the few transactions entered into have been at
about the previous rates. The market has not, for
a long time, presented such a dull aspect. Spanish
3 per Cents. have realised 361, Buenos Ayres
Bonds 56, and Russian 4 per Cents. 82.
In the English Railway Share Market the trans-
actions :lave been at a slight reduction under yes-
terday's prices, but the bu'siness doing is mainly in
connection with the settlement of the account.
French shares are firm.

The current prices for the Jamaica mines, not
officially quoted, are as follows :—Metcalfe, 4 to f
premium ; Sue River, 1 discount to par ; Port
Royal, i toi premium.

BRITISH MINES.—The market is extremely dull,
and prices are nominal.
The Gold and Foreign Mining shares have been
inactive.
In the Joint-Stock Bank shares rather more is
doing, and prices are firm. The Crystal Palace
shares are quoted without the new issue.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(Prom the o.S,:ial List. )

nusiness done.
3 per Cont. Consols Annuities , 9ll 1
Long Annuities, Expire sth Jan-, 12350 shut
Ditto 30 Years, Expire sth Jan.., 1860 4 15-16
Consols for Account 16th March
Exchequer Bills, 2d.
£SOO
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cent 56
Russian Bonds, 1822, 5 per Cent. £ St
Ditto 4i per Cent
Spanish Bonds, 3 per Cent
Dividends on the above payable in Lon-don.
HALF-PAST TWO.
Consols
Ditto April Account 9l

MARKET NEWS-(THIS DAY.I

CORN EXCHANGE.

The show of English wheat in to-day's market was sea-
sonably good, and in very fair average condition. Very
few buyers were in attendance, and so little business was
doing, that the quotations were almost nominal.
Foreign wheat, the impoi ts of which are upwards of
26,0'0 quarters, was very du.ll, and offering on lower
terms.
We had no demand for floating cargoes.
The barley trade was heavy, •at barely Monday's decline.
Malt sold heavily, on former terms.
Oats, beans, and peas were exceedingly dull.
The flour trade was heavy, and both English and foreign
parcels were lower.

ARRIVALS T MIS WEEK.

En lish
Irish
Foreign ..

Wheat.
530

Barley. 1 M alt.
1,880 ? 590
26,510 1 1,7-70 f --

Hats. I Flow
3,06 i 850
3,050 I
5,800 I 5,830 sits
8,400 brl

WHITECITAPEL.

The general trade ruled heavy to-day, as follows :
Beef from 3s Od to 4s Os ; mutton, 3s 2d to 4s 6d ; veal,
3s 10d to 5s Od ; pork, 3s 4cl to 4s 8d per Bibs by the
carcase.

BOROUGH HOP.
We have a moderate demand for most kinds of hops, at
full prices.

RAILWAY TRAFPIC RETURNS.

LONDON AND SOUTH-EASTEIiN RAlLWAY.—Traffic re-
turn for the week ending March 11, 1854 £13,614 12 9
Corresponding week last year...,.. 10,870 15 11

Increase in 1854.,

22,743 16 10

GLASGOW AND SOUTH-WBST RAlLWAY.—Traffic re
turn for the week ending March 11, 1854 £4,889 17 6
corresponding week last year . 4,466 17 9

Increase in 1854..,

£422 19 9

SIR CHARLES NAPHIR'S FL,EET.—Sir Chas. Napier's
fleet is bound first for Wing°. Sound, on the coast of
Sweden, where the ships will anchor for a time. In
that position the fleet would guard the outlet of the
Cattegat, and enjoy the advan Cages of being near a great
town like Gottenburg, with its population of nearly
30,000 souls. The next step w•t'uld be to pass the Sound
or the Great Belt, and enter thee Baltic.

FAILURES..—The Mancheste r advices state the suspen-
pension of Messrs. Gladstone, Bond, and Co., general
brokers in that city. The fir en was of 10 or 12 years'
standing, and its liabilities are estimated at 80,0001.
The immediate cause of the sto F page is said to have been
a loss by the failure of a Mancleester house a short time
back. The suspension has lik.ewise been announced of
Mr. Thomas M'Gregor, woolleat warehouseman in Cheap-
side, for about 50,0001. or 60,0100/., which has been fol-
lowed by that of Messrs. Wane rick, Harrison, and Co.,
also of Cheapside, shawl and. silk manufacturers, for
about 15,0001.—Times.
PRICE OF GOLD—Tuesday H'vening.—The quotation
of gold at Paris is about 3 per la aille discount (according
to the last tariff), which, at the: English Mint price of
31. 17s. 104 d. per ounce for stag adard gold, gives an ex-
change of 25.094 ; and, the exc h tange at Paris on London
at short being 24.95, it follows• that gold is about 0.58 j
per cent. dearer in Paris than in London. By advices
from Hamburg the price of gol el is 419 per mark, which,
at the English Mint price of 31. 17s. 10d. per ounce for
standard gold, gives an exch:i nge of 13'1,i ; and, the
exchange at Hamburg on London at short being 13'14,
it follows that gold is o'lB per •c ent. dearer in Hamburg
than in London. •

INDIA. —According to the telegraphic intelligence
from India the supply of morhey in that country must
be abundant, with every prospect of continuance—the
Governor-General, notwithstan i ling the state of politics,
having advertised the remaining; 7,000,0001. of the Five
per Cent. Loan for conversion.. The first half of this
loan was converted a few monti hs back into Four per
Cents, and Three-and-a-Half pet Cents.
THE CAPE MAILS.—SOUTHA'S IPTON, TUESDAY, March
14.—The General Screw Stefan Shipping Company's
steamer Propontis, Captain R.. Maynard, sailed to-day
for St. Vincent's (Cape de Veril es), Ascension, the Cape
of Good Hope, Mauritius, Ce 3,10 n, Madras, and Cal
cutta, the mails for which po its will be embarked at
Plymouth on Wednesday (this clay.) Owing to the sur-
render of the contract by the ( ;-eneral Screw Company,
under which these mails have been caried, the present
is the last departure which tak :e place for the Cape of
Good Hope and Indian ports. The Propontis takes out
35 passengers, 190 tons of frei g•ht for the various ports,
the number of packages being A,190, with specie, value
3,752/. The Hydaspes will bei: due at Southampton on
the 27th inst. from the Cape,. .Ceylon, Mauritius, and
Indian ports.

LATEST FOREE.N

THE WAR IN THE EAST.
A telegraphic despatch from Berlin, dated Mon-
day, gives the following as the substance of the
reply made by M. Manteuffel to interpellations
addressed to him in the Prussian Chamber :
" The Government will shortly make communica-
tions to the Chamber, which will perceive that it
has not deviated from its policy. The fleets which
are entering the Baltic belong to powers with which
Prussia is living in peace and good intelligence."
Advices from Malta of the 9th state that a Sar-
dinian frigate, arrived from the Piraeus, had
brought news that the Anglo-French squadron in
the Adriatic had intercepted a supply of arms and
munitions of war destined for the Albanian insur-
gen ts.
The position of affairs in Albania was improving.
Moss's Gazette of Berlin, under date of Vienna,
Bth, says:—" We hear, from a source on which we
can rely, that the regiments of the corps d'armee
of Pamntin, which had already received orders to
march, will return into Poland, in consequence of
a counter order. It is also announced that Prince
Gortschakoff lately received orders not to cross the
Danube, as it was wished to confine the war to the
line of that river. The son of Baron de Meyen-
dorff, Russian Ambassador at this Court, was the
bearer of those despatches to Bucharest. It is said.
that they were not very favourably received. The
motive of these singular orders appears to be the
attitude of Austria, which is by no means favour-
able to the intentions of Russia."
The Cologne Gazette publishes the following from
St. Petersburg, dated the 6th :—The Gazette of the
Senate publishes au imperial ukase, ordering the
immediate issue of credit notes for a sum of six
millions of silver roubles, about 24 millions of francs.
At the same time it publishes an ordonnance which
iuterdicts, until Sept. 1, 1854, the exportation of
corn from Odessa and the other ports of the Black
Sea and of the Sea of Azoff."
A letter from Berlin of the 11th, in the Co-
logne Gazette, says :—" The Eastern question,
which for some days appeared enveloped in
obscurity, begins to clear up. Ist, The Prussian
Government has rejected the declaration or con-
vention proposed by Austria, relative to the
Western Powers ; and, 2d, that declaration was
solely founded on the resolutions of the Conference
of Vienna, and in no respect implied the obligation
for the German Powers to co-operate actively with
the Western Powers. It results from the nature of
the resolutions come to by the Conference of
Vienna, and from the fixation of the points
for arriving at an amicable solution of the Tur-
kish question, that the proposed convention,
if founded on these resolutions, could only
serve as the basis of a future treaty of
peace. Besides, it appears that the Western
Powers have communicated a notification to
the Prussian Cabinet, which agrees in sub-
stance with that of the Austrian Cabinet, and which
solicits, not au active co-operation, but an obliga-
tory solution of the points which have been pre-
viously consented to by the four parties engaged in
the Conference of Vienna. General Von der
Grceben and Prince Hohenzollern are charged to
communicate a negative reply in this respect,
which, it is said, has been accompanied by new
offers of mediation."
The Lloyd of Vienna, of the 10th, says : —" The
Government has just suspende 1 for eight days the
publication of our journal. Our next number can-
not therefore appear before the 19th. The order
of the Government does not say to what article we
are to attribute this measure."
A correspondent of the Morning Chronicle writes
from Galatz on Feb. 27 :—" On the evening of the
2311, the Turks having learnt by spies that during
the night the Russians intended cutting down the
small thicket of willows which masked their
batteries on the island, they opened a fire
which lasted for two hours. In the night., how-
ever, the willows were cut down ; and between
five and six on the morning of the 24th the
cannonade was renewed with' vigour, lasting till
two p.m. The results do not appear to have been
important. The Russian battery No. 4 was dis-
mantled, and the Turkish No. 3 much damaged.
The Russians lost 7 or 8 killed, and some 20
wounded. lam not aware of the loss of the Turks.
Since then the Russians have sent reinforcements
to the island, and an attack is expected. The Rus-
sian sharpshooters are continually annoying the
Turks. An estaffette arrived yesterday in the after-
noon, from Braila and Bucharest—it is said, from
St. Petersburg—in great haste, with despatches for
Prince Gortschakoff, and the couriers hastened
after him too Bessarabia ; and this morning Prince
Gortschakof arrived here at 2 o'clock, and started
shortly afteiwards for Braila. We are under the
impression, by the report spread here this morning,
that the news brought was the abdication of the Em-
peror Nicholas. Great hospital preparations are being
made here. The proprietors of some of the large
mansions have been turned out, and their houses
are being prepared as hospitals. Nine hundred
beds are req.-aired. The Lazaretto barracks and
the Hotel de Moldavie are already prepared. The
weather is magnificent. Baron Budberg, governor
of the Principalities, is expected here on the 2d
March. He lift Jassy on the 28th Feb."
The following is also from a correspondent of
the same journal, dated Braila, Feb. 23.—" The
day before yes-xrday, at noon, General Prince Gort-
schakoff arrived her 6; he was received at the gate of
the town by Generals Luders and Englehardt, ac-
companied by their respective staffs, as also by
the governor and president of the municipality.
The latter, in offering him the bread and salt which
is customary, made a laconic address ; after which
he was conducted to the house prepared for his re-
ception. The rest of the day was devoted to the
inspection of the barracks and hospitals of the town.
Yesterday, at daybreak, a regiment of Russian in-
fantry increased our garrison. These troops arrived
by a forced march of three days, in a fearful snow-
drift, and the feet of nearly all lie men are frozen.
This morning, at six o'clock, the two Russian
batteries, one of 12 and the other of 8 guns,
attacked the most advanced Turkish battery; the
latter replied, and though having only four guns of
small calibre, fired away manfully for four hours.
Seeing, however, that resistance was useless, they
carried off tf.e guns within the entrenchments,
joining the battery to another much stronger bat-
tery beyond tLe Russian fire. The cannonade
lasted till eleven o'clock, when it was relinquished
on both sides. The Turkish battery suffered so
severely that it it doubtful whether it can maintain
a second attack. The Russian batteries scarcely
suffered—being well covered. Thirty wounded
were, however, taken to the hospitals. The dead
are immediately buried on the spot, so that it
is impossible to tell the exact number killed.
General Gortschakoff left to-day for Galatz, but
returns to-morrow. His sojourn at Braila, as well
as the concentration of troops of all arms, which
arrive daily, leaves no doubt of the intentions of the
Russians to cross to the right bank of the Danube.
At the same time every preparation is being made
to ensure a safe retreat in case of defeat. Bridges
have been erected on the Sireth and Pruth ; and
some of the inland towns, as Fokchany and others,
are being fortified. The Greco-Bulgarian volun-
teers are deserting in numbers. Eight of them
who were recaptured were led out and shot imme-
diately, by order of the Russian authorities."

The Amsterdam Journal of the 9th publishes the
following article relative to rumours which are in
circulation concerning purchases of arms, and the
conveyance of warlike stores and ammunition to
Russia in Dutch vessels :

"We cannot say what truth there can be in the
rumour that a proposition is made to have a c3nsider-
able quantity of arms and stores carried to a Russian
port. Our countrymen have too much good sense to
allow themselves to be caught by such a bait. The
high price offered ought to show them how greet is the
danger. No shipowner certainly will undertake such
transports without previously ascertaining if he can
reckon on the protection of the Government ; and we
cannot see how a neutral Government could a•ord that
protection once that war has been declared."
The Journal de St. Petersburg contains the fol-
lowing :—" The Odessa Messenger publishes a letter
from Elizabethgrad of the 27th ult., which
says :

`lf you have ever been at Elizabethgrail, that small
but pretty town of the military colony of new Russia,
you must know its principal street, in which are all the
best built houses, and the fine building where the
tribunals sit, and in front of which runs the Boulevard.
On the 21st this street was at daybreak crowded with
people, attracted thither by an account that nearly 300
Turks, made prisoners by our victorious armies, were
to arrive from Odessa. A shout at length arose of
"they come ! they come !" and in half an hour after
they passed through the street. The nine officers who
were among the number were lodged in the best hotel
in the town, and the others were conducted to another
hotel, where, thanks to the solicitude of the local autho-
rities, and to offerings made by the inhabitants, an ex-
cellent dinner had been prepared for then, in which the
pilaw, the favourite dish of the Turks, had not been
forgotten. After dinner coffee was presented to each
prisoner, and Turkish tobacco, purchased expressly for
them, was distributed. The inhabitants of Elizabeth-
grad, who were present, gave pecuniary assistance to
such of the prisoners as demanded it. In considering
the placid and almost cheerful countenances of the
Turks, who seated in a circle and forgetting their
fatigues, tranquilly sipped their coffee and smoked
their pipes. I felt fully convinced that never when at
home could they have felt more comfortable. They
remained at Elizabethgrad for three days, and after
being during that time treated with the greatest cordia-
lity, they were supplied with warm clothing. Appre-
ciating as they ought this generous treatment, and com-
prehending, as it deserved, this christian charity, they
more than once testified their' warmest gratitude; and

left the town with regret, and some among them with
tears in their eyes. This I.iiilanthropic manner in which
the Government, the authorities, and the people treat
prisoners belonging to a country at war with us, is
strongly opposed to the inhuman conduct exercised in
Turkey towards Christians, and testifies the civilisation
and the greatness of mind of the Russian people devoted
to the throne. Our country, the holy and orthodox
Russia, firm and unshakeable, while exulting in the high
qualities and virtues of its brave sons, may, with sincere
faith in the Divine Provide,:ce which protects it, exclaim
with pride—audite, populi, et vincimini quia nobiscum
Deus !"

A letter from Kalafat, of the 26th, written by a
French officer in the service of Turkey, says

" I have examined the fortifications of Kalafat in all
their details. They are really faultless. They occupy a
vast development, and nothing less than a regular siege
would be required to take them. But the Russians will
not attempt a siege. The immense plains which sur-
round the camp are almost impracticable for artillery.
Snow lies everywhere, and nothing serious can be under-
taken before the spring. The Russians, besides, would
lose 10,000 men in attacking Kalafat. I cannot speak
in terms sufficiently favourable of the hospitality of the
Turks. Their kindness and generosity exceed all belief.
We are 10 Europeans in the midstof 30,000 Mussulmans
and we receive from them nothing but testimonies of re-
gard and respect.
.The finest house in Kalafat has
been given to us, together with five domestics and order-
lies on horseback. The General-in-Chief has carried at-
tention so far as to place at our disposal aguard of 10 men,
two of whom are to be sentinels at out door, and horses from
the cavalry. lam every day more surprised at the Turkish
army ; its activity and intelligence leave nothing to be de-
sired. The cavalry, although overworked, is still vigorous.
The artillery is very good, and the field service is per-
formed with the same regularity in France and Algeria. A
residence at Kalafat is not without attraction. The
thousands of tents and soldiers, ranged along the Danube,
the finest river in Europe, form one of the most curious
and most pictutesque spectacles. In the spring our
position will be charming."