The Sun.
London, England, 1854-06-06 00:00:00

LONDON, TUESDAY, JUNE 6, 1854.

Additional hard fighting before Silistria, we be-
lieve, may be given as about the sum total of
the news last received from the seat of war in the
Principalities. Until the allied troops become
united with those of the Turks and Egyptians
already actually engaged with the Russian armies
under PASKIEWITCH and GORTSCHAHOFF—nothing
decisive can of course be anticipated. The sol-
diers of the SULTAN have shown themselves al-
ready, it is true, from first to last, perfectly well
qualified to maintain a defensive war with their
Muscovite assailants. This capacity they have
displayed again and again down to the latest intel-
ligence from the head-quarters of OMER DACHA, at
Schumla from the period of their first serious en-
counter with the enemy at Oltenitza. They so
entrenched themselves at Kalafat, that their posi-
tion at that point was virtually admitted by the
foe to bo impregnable—insomuch so, that having
tarried before it for some months after the sangui-
nary struggle at Citate, the Muscovite armament
was compelled at last to evacuate the whole of
Lesser Wallachia, and march hastily, in full re-
treat, in the direction of the Dobrudscha, under
the strategic plea of the necessity of concentra-
tion. Again, even now we see the heroic defence
of Silistria by the Turks, week after week, and
month after month, when invested by a formidable
multitude of armed and infuriated Muscovites.
We have been watching this heroic defence of
Silistria with a consciousness that it is one un-
paralleled in heroism since the memorable defence
of Komorn by Klapka and his gallant Hungarians.
We accept it as an incident affording additional
testimony of the capability undoubtedly possessed
by the Ottoman forces of repelling the further
advance, at any rate for some time yet, of the
enormously disproportioned hordes directed against
them by the despotic power and daring ambition
of the AUTOCRAT. Alone, we believe the Turks,
though numerically so inferior, to be capable of
maintaining for a long while unaided a defensive
warfare with Russia. But beyond that, to calm
late yet farther would be preposterous and utterly
extravagant. Unassisted, the Turks would still
find it difficult to maintain for any length of time
the line of the Danube, or even of the gigantic
range of the-Balkau Mountains. But—to dream
of their being, able, unless assisted by auxiliaries
to carry the., war into the enemy's country,
were simply`riclieuious.
rth all our apprecia-
tion of their bravery andwith all
our admiratiorifQbbocou skill,
rage of their men and
genius-of-theirhereic c
for they suchorama,uder—to cal-
culate on their petfoiining any
prodigies of
valour and good generalship as should conduct
them unaided across the Danube and across the
Pruth in pursuit of their Russian invaders, Were
to look for miracles where we have only a right
to expect matters-of-course. Therefore the repulse
of the Russians, the effectual repulse of them so aato
necessitate their withdrawal, through Wallachia
and through Moldavia, beyond the boundaries of
Bessarabia, can only be reasonably expected when
contingentso- have proceeded
the Anglo-French
from Scutari to Schumla, by way of Varna, and
from Gallipoli to Adrianople, thence to be
united with the Turks and Egyptians, looking for
orders to the head-quarters of OMER DACHA.
When these movements, already commenced,
shall at length have been satisfactorily completed,
the united foices, ranged on the field of battle
against the enormous army of the CZAR, will be
prepared at last to draw the sword in earnest for
the decisive encounter, the Franco-Anglo-Turkish-
Egyptian armament being directed against the foe,
after due deliberation, by the collective authority
delegated to Manilla). ST. ARNAUD, as Generalis-
simo. Then, .in_ earnest may we " cry havoc and
let slip the dogs of war"—expecting," as the no
longer remote. result of the conflict, the termi-
nation of the'scazcely numerable horrors of a ge-
neral mounter; and the final restoration of tau- i

quality to the contending nations of Christendom. '
A pitched battle on the banks of the Danube,—
simultaneously with the bombardment of Sebasto-
pol by the combined fleets under AdmiralsDuNDAs
and HAMELIN—and with the bombardment of
Cronstadt by the united maritime armaments
under Admirals NAPIER and DESCHENES,—
the latter attack leading to the crowning
onslaught upon the capital of St. Petersburg
thus might the maritime Powers con-
trive to effect the conquest of their gigantic foe as
by one irresistible thrust of a trident, or as by
the overwhelming rush of a threefold thunder-
' bolt. The allied forces having actually set out at
length, the English from Scutari and the French
from Gallipoli, to unite with the Turkish army at
Schumla, by way of Varna and Adrianople--all
we can do now is to await the result of these
military combinations, sustained in hope by an
implicit reliance upon the benignant aid of GOD.

The Public Revenue and Consolidated Fund
Charges Bill, which passed through committee in
the House of Commons on Friday, will meet with
universal approval thoroughout the country.
There was scarcely any matter more strongly
pressed by fiscal and financial reformers than that
of bringing all the expenditure of the nation under
the control of Parliament, of subjecting the costs
of collecting any impost, to the supervision and
direction of the guardians of the public purse.
Heretofore it was the "net" returns only that were
brought into the Exchequer. A portion of every
tax was deducted in the first instance. There
was a stoppage in transitu of indefinite amount,
respecting which Parliament knew nothing, and
could obtain no accurate information. The Go-
vernment "ouvriers," the employes in all the
public offices, were paid their salaries and extra
claims without being exposed to any impertinent
inquiries or observations on the part of any offi-
cious member. Everything was involved in a
dense cloud of mystery that effectually prevented
any hope of amelioration. The medicated atmo-
sphere surrounding enchanted castles in the old
fairy tales did not more effectually paralyse the
energies of the chivalrous knight errants burning to I
achieve the rescue of sleeping Princesses, or the
restoration of deposed Monarchs, than did the
system of keeping the accounts puzzle the brains
and entrance the faculties of the modern Reform-
ers of established abuses. The effect was very
similar in each instance. The chivalrous assailant,
whether armed with glittering and well-tempered
falchion or grey goose quill, with steel-pointed
lance or adamant tipped, was invariably cast into
a deep sleep or trance, during which the abuse
vanished from his sight, and such terror was in-
flicted on his soul that, however brave, ho shuddered
at the notion of returning to the onslaught. The most
inveterate detector of arithmetical errors—the
keenest economist would shrink from attempting
the solution of a problem in which all the data
were withheld, and there was not the faintest
glimmering light to guide him in the devious
course on which he had entered. Hence it was that
matters, which would attract immediate atten-
tion if witnessed in a striking point of view, were
suffered to linger on until they became " grey
iniquities," and their very antiquity was relied on
as sufficient to prevent any improvement.
But it was not merely the expenses of collection
that were deducted from the "gross" proceeds.
The system afforded too many opportunities for
jobbing to be neglected. Situations were created,
not for the purpose of carrying out the nominal
objects, but of rewarding political adherents. The
waiters on PROVIDENCE not merely looked out for
vacancies, but exercised their ingenuity in finding
out new offices that, although practically sinecures,
would yield handsome incomes to the recipients.
Generally some plausible apology was offered that
might excuse the nomination ; but if the illegiti-
mate offspring or favourite of a Sovereign was to
be provided for, if a patriot was to be " con-
ciliated," or, in plainer terms, to be pur-
chased, the matter was accomplished by means
of a perpetual annuity or annuities, which were
deducted from the accruing revenue before any
payment into the Exchequer.
It was this latter part of the case that inter-
posed the greatest obstacle to any reform. The
pensioners were, generally speaking, men of
exalted rank, with many influential connexions
who were enabled to stifle inquiry. There could
scarcely be an Administration, whether Whig or
Tory—a joint stock, in which some friend or re-
lative of the Dukes of GRAFTON or MARLBOROUGH,
of Earl COWPER, or other aristocratic sinecurist or
pensioner, did not hold a prominent position
that enabled him to procrastinate, and eventually
shelve, the disagreeable subject. Thus, then, the
evils gathered strength in their progress until
their duration could be counted not by years,
but by generations, and if we desired to search
out the origins, we should go back to the profli-
gacy of the Second CHARLES, or the wide-spread
corruption of the WALPOLE Administration.

Mr. GLADSTONE is entitled to no ordinary
amount of credit for having the intrepidity and
disinterestedness to grapple with these monster
grievances. If we are ready to condemn any
error committed by the Right Honourable Gen-
tleman, we are no less willing to bestow the praise
which he has so richly deserved, and to
make honourable mention of his zealous
and energetic exertions. It is true that
we do not concur in all the details of the pro-
posed me_tsure—that we should earnestly desire
some alterations or modifications in its provisions.
But we also feel that it is a long step in the right
direction—a large instalment of justice ; and that
the man who had not merely " introduced the
sharp end of the wedge," but driven it " three
parts home," has deserved well of the community,
and that his reward should not be alloyed by
direct censure or " damned by faint praise." If,
therefore, we venture on suggesting any amendment,
it is not for the purpose of depreciating the efforts
or detracting from the praise of Mr. GLADSTONE,
but rather of rendering the measure what we be-
lieve he desires to make it, as efficacious as
possible.
The reason for withdrawing the Crown lands
from its operation is obvious. A direct and posi-
tive contract had been entered into between our
dearly loved SOVEREIGN and her affectionate and
loyal subjects. The Royal Lady had relinquished
the lands' revenues of the Crown to her people in
return for the provision which they made for
the proper maintenance of her dignity. But
certain stipulations were made which could
not in any degree be interfered with
not merely without her direct assent, but at her
especial instance. There should not be the
slightest appearance of coercion or even pressure.
But those who know and appreciate the character
of the Royal Lady, will also know that the wel-
fare of her people is her greatest desire, and that
she will not permit any private or personal
interest to stand in the way of promoting that
welfare. We may, therefore, reasonably hope
that the initiative for placing these matters also
under the control of the Legislature will be
speedily taken.
Other things, such as the salaries of Judges,
already on the Consolidated Fund, are to be left
there. The propriety of these changes are beyond
the possibility of doubt, but that is no reason why
they should not be left to Parliament. There
Should be no question on such matters, and ex-
emptions and exceptions are always objectionable,
as affording opportunities for real abuses under
shelter of that which is beyond reproach. We
trust this matter may be remedied ere it is too
late.
One great objection, however, relating to the
hereditary pensions we shall not touch on at pre-
sent—requiring more time and space than we are
enabled to bestow in this impression.
We shall,
therefore, for the present, not notice the claims of
nEnoan.rloucooirw, p.s theit
the Dukes of GRArrox a d
heirs of the Duke of Sono:muter,
and the fortunate assignees of the late CHARLES'
B °
Esq., with whom, however, we shall have
word E to say anon,

OPERA COMIQUE, ST. JAMES'S THEATRE.—These
performances were to have commenced last night with
Adam's Le Bijou perdu, but Madame Marie Cabel, and
others of the artistes suffered so much from their pas-
sage across the Channel, that they were unable to ap.
pear, and the opening of the theatre waa postponed to
irecinesciv next.

MON E Y MA RKE

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 15,000 bales, including 5,000 taken
for export and on speculation. The market closed
with an upward tendency at an advance of 1-16 d.
for American ; other sorts without alteration. The
sales comprised 12,500 American, 250 Pernam and
Maranham at 6cl. to 7&d., 320 Bahia at 6d. to 61d.,
200 Egyptian at 6d. to 71d., 800 Surat at 2id. to
3d., and 40 Sea Island at 10d. to ls. 4d. per lb.
Railway shares were steady.
In reference to the Tallow market, it is stated
by Messrs. F. J. Smith and Charles that the trade
are now buying conjointly with the bears, and
higher prices than those from which the market
was precipitated may therefore be expected. Poli-
tical facts remain much as they were when we were
70s. ; and the difficulties of getting tallow overland
are beginning to be felt, now that the time for
doing this has actually arrived. St. Petersburg,
15th (27th) May—Exchange, 36. No business
doing, because conveyance cannot be procured.:
Accounts from Antwerp state that there were
four American vessels of 3,741 tons, besides
Belgian ships, preparing to leave with 3,700 emi-
grants. Complaints are made of the town having
been inundated with the circulars of a Banking-
house, at Frankfort, announcing the sale of lottery
tickets at Frankfort on the Maine. These being
posted unpaid, are charged 20 centimes, and have
occasioned great annoyance to the recipients. At
Ghent the same proceedings have been adopted.

Accounts from Thielt state that there had been
a fair sale for cloth goods at that place on the Ist.
inst. The railway between Erquelines and Ham-
mont is expected to be opened 16 kilometres before
the end of the present year.

It is stated in accounts from Canada that Sir
George Simpson, Governor of the Hudson's Bay
Company, has concluded a treaty with the autho-
rities at Sitka in charge of the Russian fur trading
posts on the Pacific side of the Rocky mountains,
by which both parties agree not to allow hostile
depreciations between their respective subjects.
This convention is not to prevent the belligerent
nations from attacking either settlement—indeed,
the British Government has already notified to the
American Minister of the intention of the allied
powers to blockade all the Russian ports in the
Pacific.

The value of the goods paying duty imported at
the Port of Toronto during the quarter ended sth
April was 187,1211. Gs. 10d. The value of free
goods imported during the same time were 1,473/.
2s. Id., and of the exports, 28,0461. 15s.

From the Bahamas islands we learn that marine
disasters were very frequent along the coast during
the late severe gales, and it was estimated that in
the space of a fortnight ending in the middle of
April, about 600,000 dollars worth of wrecked pro-
perty had been cast on shore, and that at least 200
wrecked seamen had been located atNassau during
the disastrous period.

The appearance of the Money Market within the
last two or three days is more reassuring, and the
anxiety respecting the renewal ot' the Exchequer
Bills now due is set at rest, as the amount for
which money has been demanded, cannot, under
the circumstances, exceed a few hundred thousand
pounds, and, with the existing buoyancy in stocks,
this can be speedily replaced by sales in the open
market. It would be too much to assert, however,
that cash will become abundant or cheap, since the
activity of our war movements and the continued
large imports of grain must have the effect of draw-
ing away a good deal of specie. The rate of ex-
change in China is still so far against us that
we send away silver freely, and the favourable set-
offs will, perhaps, merely suffice to keep our bullion
tolerably in equilibrium. Large sums, for example,
are coming over from the United States, and the
importation yesterday from that country and the
Spanish American Colonies, was equal to 500,0001.
With upwards of 1,200,0001. known to be on the
way from Australia, we shall be prepared to meet
some of our liabilities, and yet be none the poorer
than at present, but it will be of still greater im-
portance that the rates for foreign Bills of Exchange
should be maintained as they have been of late,
and that our large expenditure in Turkey should
induce the Ottoman merchants availing themselves
of English Commissariat Bills, to extend their
purchases of Manchester goods. The. Ottoman
army must require these, and the facilities
for their obtainment are greater than ever,
now the inhabitants are receiving large sums in
ready money for grain and cattle furnished to the
allied armies.

There has been a further important rise in public
securities, the market being completely wild, and
the Bear party in a state of panic, owing to a large
failure. Consols opened at 93 to 93i for money,
and have since been done at 94, from the cause
stated. For the account, the 19th of July, they
have been 93i f, and subsequently 93 and 92g.
These quotations will, without a word of comment,
sufficiently illustrate the perturbed state of the
market. Such a heavy account for the Bears
has not been • settled for many years, and
to this, quite as much as to any change
in the money market or any improvement
in the aspect of political affairs, must we attribute
the constant advance. The price of Consols at one
period yesterday afternoon, had sunk to 924, and
they rallied to 922 and 93, although the Bank of
England lent a considerable amount of stock. The
New 3+ per Cents. have been 93 and 92, and the
3 per Cents. 92:1 and 911. When the account is
fairly settled, we should not be surprised if a fur-
ther decline occurred. Bank Stock is worth 204
to 206. Exchequer Bills are ls. to ss. premium.
The Committee of Mexican Bondholders have,
by the Avon, received advices from Mexico of the
2d, and from Vera Cruz of the sth ult. The re-
mittance for account of the dividend from Vera
Cruz is $45,000, and at Tampico, on the 29th of
April, $lB,OOO were waiting for shipment. From
Mazatlan $3,241 had, on the 13th of April, been
sent on to Panama.

Mr. Falconnet writes, on the 2d of May, that
they had no official intelligence from the President
since the 19th of April, but the Charleston Courier
has advices from Mexico of a later date, stating
that the President had taken Acapulco and restored
the communication between his army and the
capital.
Foreign Securities have been nearly all at full
rates. Spanish Threes 41 to 414, and Portuguese
4 per Cents. 42. Mexican Bonds are at 241, and
Grenada Deferred at 6g
Railway Shares have been generally higher, with
moderate transactions.

The annual meeting of the Bank of British North
America took place this day, at which a very en-
couraging report was read, showing the profits of
the year 1853 to have increased 45 per cent, over
those of 1852. All the reports stated the colony
to be in a very flourishing state. The nett' profit of
the year was 100,6501. 17s. 10d. From the undi-
vided nett profit of 125,3491.105. the directors now
declared a dividend for the half-year at the rate of
6 per cent. per annum, with a bonus of 255. per
share in July next. The report was adopted.
Crystal Palace shares are a shade better.

' BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(From the Official Lisle.)
Rosiness done.
Bank Stock .
3 per Cent. Reduced Annuities 9l 2 li 23
3 per Cent. Consols Annuities 933 3 4 31 4 3 24 31
New 31 per Cent. Annuities 921 6 3 2/ 4 2 4 2 i
Long Annuities, Expire sth Jan., 1860 ... 4 9-16 1146
Ditto 30 Years, Expire 10th Oct., 1859.... 4 5-16
India Bonds, £lOOO
Ditto, under 1:1000 5 p
Consols for Opening 19th July -
Exchequer Bills, 2fd.
21000 ..... 1 5 p par 5 p
X5OO l5 p
Small l5 p
Exchequer Bonds Scrip
PRICE OF FOREIGN FUNDS THIS DAY.
Danish Bonds, 1825, 3 per Cent
T itto 5 per Cent .......... ...........
Grenada Bonds, Deferred 4....1 6a i
"exican 3 per Cent.
Peruvian Bonds, 4} per Cent. 63 71
Ditto 3 per Cent
Portuguese Bonds, 4 per Cent 42
Spanish Bonds, 3 per Cent 4l is 1
Spanish Now Deferred, 3 per Cent. 204 i
Ditto Passive (Converted)
Spanish Committee Cert. of Coup. net fun 4i 5
Venezuela Bonds, 311 per Cent. ......, 26 5f
Dividends on the above parable in London.
Dutch Exchange, 24 per Ceut. 12 Gull 6ll
Ditto 4 per Cent. Certilleates .
I THREE O'CLOCK'.

Consols 93
?mole for Opening 19t4 July 921 t

MEI

LATEST FOREIGN NEWS.

THE WAR.

THE LAST DESPATCH FROM VIENNA.

VIENNA, Tuesday Morning, 10 o'clock.—The
,elegraphic despatches from the Danube aro con-
tradictory. The following is probably correct :
Towards the end of May, 5,000 Turkish horse
gook the Russians by surprise at Turnu.

• Only 107 of the latter escaped to the left bank of
he Aluta.

General of Division Baumgarten has been miss.'
ing ever since the affair.
In the attack on Silistria on the 29th Lieutenant-
General Sylian was killed, and Count Orloff shot
in the eye.

On the 30th, at 4 in the morning, the Turks
made a sally, and a fearful massacre took place in
the Russian entrenchments. Many of the be-
siegers' guns were spiked.

ft is calculated that the Russians have lost 8,000
men on the Danube since the 20th of May.

SIEGE OF SILISTRIA.

Russian accounts received in Vienna describe
the engagement at Silistria on the 29th as " a
fresh and vigorous attack by 30,000 Russians," but
they admit that the assailants were repulsed with
a loss of 3,000 men. The eldest son of Count
Orloff was among the'slain.
The Cologne Gazette gives a letter from Vienna
of the 31st ult., of which the substance is as fol-
lows :--4, The brave Mussa Pacha of Silistria has
found a disinterested ally in the Danube. The
river has inundated the islets occupied by the
Russians, compelling them to decamp without
their guns, which aro now under water. The same
generous ally has invaded all the mines made by
that skilful engineer officer General Luders, and
it has swept away the bridge of boats they had
formed at Kalarash. The siege is therefore raised
on the river side ; and as the mud made or left by
the stream will take time to harden when the
waters go down, it will be more than three weeks
before operations from those islands can be recom-
menced.

The correspondent of the Vienna Wanderer, who
was at Kalarasch on the 21st, writes :
" About noon the Russians crossed the Danube half
an hour (an English mile and a half) below Kalarascb,
.and immediately began to construct entrenchments and
mines. After having fruitlessly bohibarded Silistria
during five weeks, Prince Paskewitsck has convinced
himself that the fortress cannot he taken by storm with-
out a sacrifice of 20,000 or ,25,000 men. As a conse-
quence of this General Schilder'a plan for destroying
the fortress by means of mines has been adopted.
Silistria has not high walls, but between their double
lines there is a space completely filled with earth, as is
the case at Vienna. The outer trenches are very
deep, and at a distance of 200 or 300 paces from them
flows the Danube. At this spot the river is extremely
deep, and the current so strong that the formation
of a bridge is entirely out of the question ; besides this,
everything that the Russians might construct here
could easily be destroyed by the guns of the fortress.
Nothing is, therefore, to be done, but to carry on the
siege from the south-east side of Silistria, but even that
position is commanded by the guns of the new citadel,
at which the Turks have been building these seven
years, and of the batteries which are placed below the
coffee-house.' Prince Gortschakeff is regularly en-
camped on the right bank of the river, but the Prince
of Warsaw returns at night to Kalarasch. Lieut.-
General Luders, who came here two days ago, is sick.
It is not known whether Grothenhjelm or Engelhardt
will take the command in the Dobrudscha during his
absence. I have counted 56 Russian generals in Kala-
rasch, and can, without the least exaggeration, say,
that 100,000 men, are encamped there."
The report that Mussa Pasha bad yielded to the
" persuasion" of Russia, was a vile calumny, for
the gallant soldier is resoled to hold out to the
last. If the fortress does fall, the victory will
have been so dearly bought that the Russian army
will have no cause to congratulate itself. It is con-
sidered good policy to let the Russians exhaust
their strength and energy before the walls of
Silistria. The present position of Omer Pasha
is the best he can have both in a strategical and
political point of view. If Silistria falls, and the
Russians should advance towards the Balkan, they
haven° chance of success . The Court of St. Petersburg
is, however, now only intent on saving its honour,
and, therefore, when the fortress is taken, we shall
probably hear that it will propose to evacuate the
Turkish provinces on certain conditions. If, on
the contrary, Silistria should not fall, Russia can-
not make a retrograde movement without leaving
an irradicable stain on its military reputation. As
to the negotiations for a capitulation, they appear
to have been neither more nor less than a demand
on the part of Mussa Pasha, that the unarmed in-
habitants and the irregular troops might be per-
mitted to quit the .fortress without molestation.
From the preparatiOns made by Mussa Pasha and
Mehemed ' Bey, the chief of the engineering de-
partment, it is evident they have no idea of sur-
rendering.