The Sun.
London, England, 1854-05-18 00:00:00

THE-I
-I-11N, LONDON, THURSDAY EVENING-, MAY 185 L 834.

THEATRE ROYAL DEITRY LAND.
Lame, Mr. E. T. Smith.
THIS EVENING, MAT IS,
MU be porfomied PIDELIO. Leonora. Madame Caradori ;
Threaten, Herr Reichardt; and Rocco, Herr Formes.
Followed by (23 time) a new R ILLET DIVERTISSEMENT.
entitled UNE FETE EN OLYMPE.
pricee—Stalls, 78; Dress Circle, 39.; Boxes, 3s. ; Pit. 2s. ; Gallery,
Is. • end Private Boxes, One, Two, Three and Four Guineas. The
it,5;...0100 open daily from Tee till six, where places may be
secured. Private Boxes and Stalls to be had of Mesas. Leader and
gook, 63. New Bond-street.

THEATRE ROYAL HAYM &RICKY.
Under the management of air. Buckstone.
THIS EVENING, MaT IS,
Will be performed ,TOWN AND COUNTRY. Characters by
Mtwara Compton, Chippendale, George Yandenhoff, and Buckstone ;
Miss Featherstone and Miss Reynolds.
After which, the entirely new and original extravaganza, entitled
al a. fILICKSTONE'S VOYAGE ROUND THE GLOBE (IN LEI-
c,,LirEit•SQUARE), written by J. R. Planc.h. Esq, Principal
charaeters by Mr. Buckstone, Mr. W. Farren. Mr. Clark, Mr. J.
Marshal. Mr. H. Marshall ; Mrs. Fitzwilliam, Mrs. Caulfield, Miss
E. Grey, Miss Lydia Thompacn, Miss Laura Morris, and Miss
Featherstone,.
Followed by WILLIKIND AND HYS DINAH. Supported by
Messrs. Buckstone and Corti ; Miss Louisa Howard, Km FitawU"
!lain, and Mrs. Caulfield.

ROYAL PRINCESS'S THEATRE, OXFORD-STREET.
Cade, the Management of Mr. CHARLES KEAN.
THIS EVENING, May IS.
Will be performed THE MARRIED UNMARRIED. Characters
by Messes. W. Lacy, Ryder. and Cathcart; and Misses Heath and
Murray.
Followed by rAtTir AND MARGUERITE. Characters by
:Messrs. C. Kean and David Fisher ; Mrs. WLnstatley and Miss C.
Leclemq.
After which, AWAY WITH MELANCHOLY. Characters by
Messrs. Meadows, D. Fisher, and Saker ; and Misses Murray and
Daly.

THEATRE ROYAL ADELPHI,
Proprietor, Mr. B. Webeter.—Direetress, Madame Celeste.
THIS EVENING, Milt 18,

Beamin Webster
Will be perlbrmed TWO LOVES AND A LIFE. Supported by
Messrs. C. Selby, Leigh Murray. nj , Keeley, and 0.
4uttl ; Miss Woolgar and Madame Celeste.
Followed by THE MOUSTACHE MOVEMENT. Principal cha-
racters by Messrs. 0. Smith, Keeley, and ?smile; Mrs. Keeley,
and Miss Mary Keeley.
After which, THE OVERLAND JOURNEY TO CONSTANTI-
NOPLE, A 3 UNDERTAKEN BY LORD BATEMAN, WITH
INTERESTING PARTICULARS OF THE FAIR SOPHIA.

ROYAL OLYMPIC THEATRE.
Lessee and Manager, Mr. A. Wigan.
THIS EVENING, Mar 13.
will be performed FIGHTING BY PROXY. Characters by
Robson and Wigan; and Miss E. Turner.
After which, T'dE HAPPIEST DAY OF MY LIFE. Cha-
racters by Messrs. F. Robson, J. H. White, Leslie, and Vincent;
Dirs. Chatterley, Miss P. Hortou,•and Miss Marston.
To be followertby TO OBLIGE BENSON. Supported by Messrs.
Emery, Rob 0,1, and Leslie; Mrs. Stirling end Miss Wyndham.

STRAND THEATRE.
Sole Leans Mr. F. W. Allcroft.—Directress, Miss Rebecca Isaacs.

THIS EVENING, MAT 18,
Wlll be performed THE GARDENER OF VERSAILLES.
To be followed by BOX AND COX IN KAFIR LAND.
After ighieh, a BALLET DIVERTISSEMENT.
To be followed by SUMMER FLOWERS.
To IYlnelnde with MR. AND MRS. WHITE.
Boxes, 3s. ; Pit, la. 6d ; Gallery, 6d. ; Private Boxes,
41 11. s. 6d., to be had of Mr. Alleroft. 15; New Bond-street.

AstLzrs EUROPE'S NATIONAL AMP RITREATRE.
Lessee and Manager. Mr. William Cooke.
VHS EVENING, MAY 18.
Wlll be presented the new grand Nautical and Equestrian spec-
tacle, embodying n ivel and extraordinary erlects (wrt.ten by Mr.
Nelson Lee), entitled A TALE OF THE SPA NISH WAR; or.
The Horse of the Wreck. The horses expressly trained by Mr. W.
Cooke.

Followed by an entire change of the Scams of the CIRCLE.
To conclude with a Grand Ballet, entitled THE STAR OF THE
RHINE.

litoz-once open from Eleven till Four. Stage Manager. Mr. W.
West.

HIGH WATER AT LONDON BRIDGE.
TIII4 DAY —Morning 55 min.after 5 I Evening 25 mtn.aft. 6
To4finutow—Xorning 56 min.after 6 I Evening 32 tnin.a.ft. 7

THIS WEATHER.—Suis Ovrtcoi, 3IAT 18.
TEIRRMOMETRR, IN THE ►SSADR.
67—highest since noon yesterday.
54 —lowest this morning and during the night.
56—this day at noon.
BAROMETER, 30'12.
WIND, variable from W. to N. and N.E.--Cloudy
weather, and slight rain.

~~

,§un,

in the unselfish co-operation of the subjects of
VICTORIA and NAPOLEON in carrying out, side by
side, and hand in hand, with implicit confidence
in each other's integrity, the glorious but stupen-
dous enterprise upon which they have together
adventured.

Public attention is now strongly directed to
the operation of the Bank Charter Act of 1844 ;
and a general opinion prevails that something
must be done to modify its stringent regulations,
or that a panic will prevail exceeding in intensity
that of October, 1847, and apreading ruin and
dismay throughout the industrious classes. We
have witnessed the steady progress of the drain of
bullion, and the diminution as well of the notes
in general circulation as of the "reserve," which
is now reduced to an amount below that usually
considered indispensable for conducting the legi-
timate business of the banking department. We
have also seen the continued increase in the
minimum rate of discounts, until that which, on
the Ist January, 1853, stood at 2 per cent., is
now charged 5? per cent. ; and yet the desired
change has not been produced. We are still pro-
ceeding at a rapid rate on the road to ruin, and
yet nothing has been done, or even authoritatively
announced as under Ministerial consideration, for
the purpose of arresting this truly alarming state
of affairs.

It is true that within the last few weeks very
ominous and significant hints have issued from
the Ministerial organ—that the value of the ex-
clusive privileges afforded to the Bank of Eng-
land have been set forth and expatiated on with
extraordinary emotion, and the very pertinent
interrogatory has been exhibited in various forms,
but all to the same point, namely, What is there
to prevent the Government from becoming its
own banker, from keeping its own funds, liqui-
dating its own liabilities, and, above all, ISSUING
ITS OWN NOTES ? The establishment of a really
National Bank of Issue—the resumption of the
Royal Prerogative of making money, which had
for a time been delegated on certain conditions to
a private corporation, is thus clearly indicated.
If the intimation be only carried out fully and
fairly, if the matter be only pushed to its legi-
timate conclusion, the industrial community will
have no reason to dread the consequences of the
war, or the additional fiscal changes thereby occa-
sioned, even though the latter amount, in round
terms, to 10,000,0001. sterling per annum. No.
Give us "free trade" in banking—allow us to ob-
tain the requisite supplies of " straw," and there
is no danger but the " bricks " will be forthcom-
ing at the appointed period. But under the pre-
sent system, all the power of the AUTOCRAT, by
sea or by land.--r-the fortifications of Cronstadt or
Sebastopol—the vessels constructed or repaired in
English dockyards, or the wild and undisciplined
hordes of half savage Cossacks, who crouch before
the knout of " the God of the Russians"—do not
excite in the minds of well-informed Englishmen
a tithe—no, not an infinitesimal portion—of the
terror and consternation occasioned by the fear of
having the circulating medium reduced much be-
low the amount required for the wants and exi-
gencies of the country.
It may be said that the hints of the Times
should not be taken so very seriously, that the
intimation given might have been but a mo-
mentary ebullition of anger, having no defi-
nitive meaning, and expressive of no fixed reso-
lution. We might agree with the argument, had
the question related to any other to • But
topic.
when we consider the almost fanatic zeal with
which the Times fought the battle of the bullion-
ists—with which it advocated the principles of
the Act of 1844, which it declared to be as much
beyond the possibility of question as the doc-
trine of "Free Trade," the matter assumes a
peculiar significance. It appears to be like the
straw thrown up to ascertain the direction of the
" atmospheric currents " the feelers put for-
ward through the bullionist organ, for the pur-
pose of discovering whether the "Times-serving "
part of the community will continue to follow the
. .

beck of their self-constituted leader, or whether
they are still dazzled by the specious fallacies re-
specting the " self-acting regulator of the cur-
rency," and other frothy trash of a similar cha-
racter, which, so long as it suited. the purpose, was
freely poured down their gaping throats. Yes, the
participation—nay more, the lead of the Times—
in the onslaught clearly proves that the fiat has
gone forth, and that it is time for the " Old
Lady" "to set her house in order" without any
unnecessary delay.
It is, indeed, sufficient to insure the success of
the movement that a spirit of inquiry should be
excited, and that the people should be determined
to investigate the question in all its varied details.
Hitherto it has, like the enchanted castles of

necromancers in the books of chivalry, escaped
observation through the mists by which it was
concealed. Two potent magicians, PREJUDICR and
IGNORANCE, lent their aid to keep it from general
view ; but at the first summons from the good
knight, Monetary Science, the rottenness of the
foundation will be discovered, and the deceptiva
superstructure will crumble away before the trum-
pet-voice of public opinion.
" What necessity," we ask, repeating the query
we have so frequently put forward—" What ne-
cessity is there for a gold currency for do nestic
use ? Why are from 40,000,0001. to 50,000,0001.
of sovereigns required for carrying on the
every-day transactions of life ? The examples of
Scotland and Ireland prove that, if there was an
adequate supply of small notes, ever concurrent
with bullion, that the latter will speedily go out
of circulation. In either of the sister kingdoms
a sovereign is a rare sight, and when one is ob-
tained from a travelling stranger the recipient
hastens to exchange itfor the less cumbrous and
f more convenient " pound note." We prevent
the development of a similar feeling here by pro-
hibiting the circulation of notes for less than Si.,
and " verily we have our reward." "We pay
dearly, indeed, for our whistle"—when we con-
sider that the wear and tear of notes in circula-
tion costs at least 1,500,0001. per annum, and
if we place the interest at an equal amount, we
find 3,000,000/. per annum lost by absurd regu-
lations. What would be said of a small trades-
man if he used golden scales and weights in
all his transactions. The unnecessary waste of
capital most probably would paralyse his efforts,
and bring him to bankruptcy. But the nation
which insists on having sterling value, where a
suitable measure and representative is only re-
quired, in using gold where paper would answer
just as well, acts an equally foolish part, and
should be held up to contempt and ridicule for
its fatuity. All that is required for a currency
is, that it should carry with it the confidence of
the community, that each man should know that
he can dispose of it in the same manner and
at the same rate that he received it—that it
possesses, in fact, the necessary sanction for its
redemption, and therefore carries with it the
"purchasing power." We have repeatedly shown
that a national note, secured on all the wealth
and industry of the country, and receivable by
every tax-collector throughout the kingdom., would
possess that sanction—that it would be just as
acceptable as gold. All that is required is that
the subject should be ventilated in Parliament.
If the inquiry be only entered on in a fair and
4traightforward spirit, we have no doubt that
truth will pre,rail, and that the national currency
will speedily be placed on a just and proper
foundation.

Lao press already owes much to the persever-
ance and tact of Mr. MILNER GIBSON, and it
seems not unlili.ely to. owe him yet more. His
generalship on Tuesday
Chancellor it
was
ll'•=.l.e night was. certainly ad-
mirable ;
o f
;the ,he well knew, when the
Exchequer was doubling; or
increasing se venal taxes, to bid him stand and
give up anot her. That official, so all-important
during a war, would, of course, shake his head at
being asked to, surrender nearly half a million of
money, and the Rouse must support him. Mr.
GII3SON, there afore, confined himself to underrnin]
ing the fou ad ation of a tax which he dare
not batter d ire icily, with the full intention no
doubt of sprir aging his mine when foreign foes
shall cease to divert us from domestic improve-
ments. liis wore ardent colleague, indeed, Mr.

BRIGHT, could not be restrained, perhaps it was
not wished, from a cannonade in the trans-Danubian
style of the Turks and Russians ; but the mover
of the resolution wasted none of his powder ; he
barely intimated that he had plenty of it ready
for instant use, but he adhered with almost logi-
cal severity to his strong point.
A strong point, too, it is. With no little un-
easy writhing and wriggling on their part—not,
however, quite so violent as that of the Chancellor
of the Exchequer to avoid surrendering the whole
advertisement duty—the two law officers of the
Crown and our versatile Home Secretary were
compelled to acquiesce in Mr. Giesozes motion.
They seemed but too happy to escape with the
accompanying verbal assurance that the Govern-
ment officials had done nothing in their
newspaper stamp prosecutions from personal
favour and partiality a charge which
they perfectly well knew Mr. GIBSON
never thought of bringing against them. They
plainly thought it a case for caution, and that
accepting an explanation was better than a duel
with an adversary who had so well selected his
weapons. The innocence of the Government law
officers, however, only makes Mr. GIBSON'S case
the stronger. Even under such blameless ad-
ministration it had to be confessed by the whole
House of Commons that " The laws in reference
to the Newspaper Stamp and periodical press are
ill defined and unequally enforced, and that the
subject demands the early consideration of Par-
liament."

Modest enough in appearance, such an unques-
tionable fact, and with only such a guarded
pledge in reference to it, is an impregnable posi-
tion from which to commence the grand attack.
Mr. GLADSTONE preferred giving up ultimately
his Income Tax to attempting an equitable
adjustment of it. He felt that a confessedly
unequal tax was doomed to 'extinction, and only
saved it for a time by prothising some years hence
the means to supersede it. With what grace
therefore can he face hereafter the resolution
agreed to by his own colleagues,- that the tax on
news never can be equally 'enforced. The
English public will never long consent that
the Treasury should have the arbitrary work-
ing of a definition which depends on the
will or whim of Government officials. What
"news" is, no one yet, no lawyer, no judge,
no jury, has been able to determine with precision.
Public occurrences and facts, if told to the public
at intervals shorter than 26 days, are taxed as
news, but comments including or implying the
facts are not news ; literary journals, with a cer-
tain minor portion of news in them, generally
escape; so do " class journals," if powerful enough
to fight Mr. TIMM, who, however, incontinently
indemnifies himself on journals not backed by a
proprietor who refers Mr. Thant to his solicitor.
The " Times," in every form—Musical, Law,
or Racing Times—.seem to stay for no Mr.
Timm ; and the Athenceum, with the Literary, and
the Medical Gazettes, appear also to use him as
they please. But when -that awful functionary
sends his missive to the Potteries Free Press, or
the South Coast Journal, the penny preachers of
news and politics are obliged to bow to a five or
a twenty pounds penalty, and to accept the remis-
sion of the fine as an act of sovereign mercy.
They, simple souls, had Supposed that the law
could and would be equally administered, and
that if the Builder, the Racing Times, &c., escaped,
they might escape also. They quite forgot that
the Newspaper Stamp Law was, and must be,
Treasury-made law.
This, then, was the sum of the whole debate.
Mr. BRIGHT'S earnest appeals against the stamp,
as a tax on knowledge and education, will have
their weight, of course, but were irrelevant to the
main fact to which Mr. Gil:lsm compelled the
assent of the House of Commons, Government
officials included. He has recorded on its jour-
nals the truth, which proved fatal to the defence
of a perpetual Income Tax, that the tax cannot be
administered with any approach to fairness ; a
defect which once distinctly acknowledged, no
impost can long survive. In this Mr. GIBSON
showed a skill worthy, we think, of a leader of
the House of Commons.

Of course the discussion pointed to the abolition
of the tax, and on that subject Mr. BED:awes
speech will be read with interest. He calculates
that with a penny stamp for such papers as pass
through the post the Treasury would realise as
much as it does now. The number of papers
would be increased, he thinks, tenfold, and that
one-tenth would thus pay the same stamp duty as
they now do, but as bona fide postage. No one will
wish that the Post-office should be charged for no-
thing, with the conveyance and delivery of news-
papers, or other printed documents, but we must de-
cidedly maintain that here the American practice
is the sound one. They charge all printed paper
at half the rate of letters ; and certainly it would
be most unreasonable to expect the Post-office to
carry the largest paper and its supplements for the
same charge as that made on some small penny
journal ; and, on the other hand, unfair to the
small newspaper that it should pay as much as
the large one. The newspaper postage-stamp must
commence from one halfpe►any upwards, and we
feel confident that this atrangement, as most just,
would be most profitable also.

At the present time, when it is impossible to
say what may be the consequence._ of the war to
the mercantile and trading community of the
country and those dependent thereon, it is incum-
bent upon all, while in their power, to provide
for the hour of misfortune, should it arrive ; and
we therefore direct attention, as we have before
had the pleasure of doing, to the account of the
tenth election of annuitants on the Benevolent
Fund of the Provident Clerks' Association, when
three clerks and four widows of clerks were elected
to annuities, making, on the whole, ten clerks and
thirty-one widows annuitants on the fund.

It is gratifying to find that the benefits of this
excellent institution are distributed alike in town
and country ; and we feel satisfied that, as its ob-
jects become more generally known, it will receive
the support of the many benevolent individuals
in this country.

THE EARL OF LIOHFIELD.—It is stated that this
nobleman (late Lord Anson) has purchased the Gondola
yacht from Mr. Woodhouse, and intends to embark on
an extended aquatic excursion early in the season.
DEATH OF THE COUNTESS OF PORTSMOUTH.—This
noble lady, we regret to say, expired on the 12th inst.,
at her mansion at Eggelsford, in her 78th year. Her
ladyship was widow of the last Earl of Portsmouth, and
sister to the present Earl Fortescue.

RATES or EXOHANGE.—The French rate of exchange
continues firm at previous rates. Another favourable fact
is that silver and dollars are ill the market here, and
that prices are heavy, notwithstanding the last quota-
tions from India and China.

DRINKING THE HEALTH OF THE EMPEROR OF RUSSIA.
—A few days since a dinner was given to the tenants
of Mr. Heathcoat, M.P. for Tiverton, of which it will
be remembered Lord Palmerston is the other represen-
tative. After the cloth had been removed various toasts
were proposed, and among the rest was that of " The
health of the Emperor of Russia, and may the war last
for seven years," which was proposed and seconded by
two farmers, named respectively Densem and Hewitt.
As might have been expected, the toast was received
with indignation ; and its proposer has since been
taunted by all with whom he has come in contact.
Indeed, it was questionable whether he would not have
been mobbed by the women who assembled on the fol-
lowing market-day. Such sentiments of disloyalty, it is
scarcely necessary to state, are not generally entertained
by the Devonshire farmers, notwithstanding their fond-
ness for high prices for their wheat.

THE WAR.—ADDRESS TO THE QUEEN.—The following
is a copy of the address of the corporation of Cork to the
Queen, on the subject of the Russian war, and of the
reply thereto, received from Lord Palmerston :
"To THE QUEEN'S MOL'T EXCELLENT MAJESTY.
"May it please your Majesty—We, your Majesty's duti-
ful and loyal subjects, the mayor, aldermen, and burgesses
of Cork in council assembled, at this momentous crisis of
the commencement of thy., war, approach your Majesty with
the humble expression of our devoted loyalty and attach-
ment to your Majesty's throne and person, and we fervently
pray that the Supreme Disposer of events may vouchsafe
to bless your Majesty's arms and those of your august allies,
so that, speedily vanquishing your enemies, you may secure
to Europe the blessings of a solid and enduring peace.
" J. N. MURPHY Mayor of Cork.

- ,
" A.LEXANDER lITARTRY, Town Clerk."
" REPLY.

" " Whitehall, May 8, 1854.
Sir—l have had the honour to lay before the Queen
the loyal and dutiful address of the mayor, aldermen, and
burgesses of
Cork in council assembled, which accompanies
your letter of the lot inst., and I have the satisfaction to
inform you that her Majesty was pleased to receive the
same very graciously.-_I am, sir, your obedient servant,
The Town Clerk of Cork," " PALMINOTON."

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK

The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, including 1,000
American taken for export and on speculation.
The market closed heavily, with a downward ten-
dency. Compared with Friday's rates, prices of
American were nearly id. per lb. lower. Railway
shares were quiet.

The following is the report of Messrs. H. W.
Jewesbury and Co. upon the indig• auctions :
" Since the last February sale, the demand for indigo,
in common with most other descriptions of produce,
has been exceedingly limited, and as prices were very
generally expected to rule lower, the sale just concluded
opened heavily, at a serious reduction upon February
rates—the limited amount of orders from the con-
tinent, also the home trade operating very spa-
ringly, and the advanced rate for money, have alto-
gether caused one of the flattest sales ever remembered.
Fine shipping indigo has declined 6d to 9d, and in some
instances is per lb. ; upon the ordinary and good de-
scriptions the fall has been about Cid per lb. Madras
good and fine (being scarce) sold at about last sale's
rates ; the ordinary sorts were 3d to 4d per lb. lower, as
was also good and fine Kurpah, the ordinary qualities
being 4d to 6d per lb. under February prices. Of the
quantity brought forward, it is estimated that 2,808
chests are bought in, 5,048 withdrawn, and 3,300 sold,
to which may be added about 200 of the bought in and
withdrawn, making the total quantity sold about 3,500
chests, of which 1,800 are said to be for export, and
1,700 for home use and re-sale. The following are the
quotations as compared with the last February Pale :
Fine shipping 6d to is lower ; good ditto, 4d to 6d
lower; broken and consuming, 4d to 6d lower; Madras,
good and fine, par to 3d lower; middling ordinary, 3d
to 4d lower ; Burpah, good and fine, 3d to 4d lower ;
middling and ordinary, 4d to 6d lower ; Oude, 4d to 6d
lower ; Pondicherry, 9d to is lower.
The letters by the Overland Mail have been de-
livered this morning, and they represent business
as being rather dull generally. The insurrection
in China seems to male progress, and at any rate
the Imperialists have not gained any material
successes.

The ship "Flying Dragon,' arrived at Ceylon,
furnishes advices to the 15th February fro* Mel-
bourne, in which we find a.few additional items.
It is stated in one letter that business had been
circumscribed, but that there was a decidedly
firmer tone generally, with a tendency to improve-
ment. When the cessation of shipments from
Great Britain begins to be understood, a marked
advance was looked for in all articles of general
consumption, but, nevertheless, a further decline
in spirits was probable. The alteration in the
tariff, imposing a duty of 6d. per gallon on beer, had
an effect in causing that article to decline slightly.
There was a considerable demand at the various
" diggins" for supplies. The quantity ofgold brought
down to Melbourne from Jan. 28, to Feb. 14, was
63,833 ounces, and the shipments had been
80,632 ounces, of which 250 ounces were to Syd-
ney. The arrivals were large, comprising 53 ves-
sels from British and foreign ports of 19,812 tons.
The addition to the population, allowing for the
departures, was 2,709 persons. Timber was in re-
quest, but the price was not high, owing to the
difficulty of procuring storage.
The Honourable East- India Company have
taken up the Royal George to convey troops, and
the Barham for stores to Calcutta.

The...rate of exchange for bills drawn by the Hon-
ourable East India Company, has been reduced id.
per rupee—viz., to ls. 114 d. on Madras, and 2s.
on Bombay. This would appear to indicate either
a falling off in the domand for remittance that
may result in smaller specie exports hence, or
otherwise larger payments to be made here by the
company, which desires to offer greater temptation
to purchasers.
The value of money has been getting up steadily
here to the Bank of England minimum, and the
discount houses are doing the best bills very cur-
rently at 51 per cent, and according to date, still
more is asked. The Bank of Belfast has advanced
its rate of discount from 5 to 51 per cent. The
French Government, as was expected, has lowered
the interest in Treasury bills, and money is very
abundant at Paris. The exchanges will be favour-
ably influenced;when the new law is in force, allow-
ing colonial produce to be brought here, as the
stocks in France are small.

A meeting of the shareholders in the Albion
Gold Mining Company is now in progress, the
object being to expose the mismanagement and
promote the winding up. The proceedings have
not yet concluded.

Public Securities are still advancing, the ener-
getic course pursued by Austria having the 'effect of
strengthening the impression that Russia cannot
long resist such a coalition. Consols have been 88g-
to 89 for transfer, and 88i to 4 for account. The
New 31- per Cents. have been marked 88± to 884,
and the 3 per Cents. 874 to. 1;-. Bank Stock has
been firm at 204, and India Stock quiet at 235.
Exchequer Bills are Is. discount to 2s. premium.
The foreign market has been dull as regards
Spanish American and speculative stock, but there
have been several bargains in Northern Bonds•
Russian 5 per Cents, have declined to 95 and 90,
and the 41 per Cents. to 811. Belgian 44 per Cents.
have been at 90, and Dutch 2 per Cents, at 584
to 59. Spanish Deferred Bonds are I.Bg to /.
The railway share market has been very firm,
with, however, only a limited business doing.
French shares are steady, and Northern higher.
The other foreign lines have been in moderate
request.
Gold Mines are merely nominal, the Oriental
Bank shares have risen about about 11., and Aus-
tralian Agricultural Land are buoyant.
The last week's railway receipts ascertained up
to this day are in round figures as under :

1854. 1853.
Great Western
North-Western
South-Western
Brighton
Midland
South-Eastern.... 16,142 14,210
Caledonian, and Edin. and Glasgow 16,385 14,086
Great Northern 18,069 15,742
Lancashire and Yorkshire 19,047 18,895
York and North Midland
Newcastle and Berwick } 28,308 26,339
Leeds Northern

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

Rosiness done.
Bank Stock ..
88
I 9 8
34N
epp ewe
rr
3cCi
Cent.
r Consolsßeduced
Cent.
AAnAnn
nnu
tetui
tei tsei
se s
8N 2
Long Annuities, Expire sth Jan., 1860 -16}
Dittc. 30 Years, Expire 10th Oct., 1859 4 5-16
India Stock 235
Consols for Account eth June BB4 a
Exchequer Bills, 2d.
000 21
Small 1 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Russian Bonds, 1822, 5 per Cent. St 9si 5
Ditto for the Account 95 1 4i
Sardinian Bonds, 5 per Cent Bl4
Spanish New Deferred, 3 per Cent.,
Ditto for the Account lBg 4
Ditto Passive (Converted)
Dividends on the above payable in London.
Belgian Bonds 4i per Cent. ox. 25 fr
Dutch Exchange, 24 per Cent. 12 Guil
Ditto 4 per Cent. Certificates
HALF-PAST TWO.
Consols BBl
PA

88;
Ditto June Account

OPENING THE NEW STREET TO ST. PAUL'S.—The last
portion of the new thoroughfare of Cannon-street West,
opening up a direct communication between the south
side of St. Paul's Cathedral and London-bridge, is now
being paved, between Old Change and the churchyard,
with blocks of granite, and the -Commissioners of City
Improvements have definitively fixed that this import.
ant line of thoroughfare shall be opened throughout on
Monday next, the 22d inst.
SHIP MAILS DURING THE MONTH. Notice was
issued from the General Post-office yesterday that ship
mails will be made up for Melbourne, to be sent by the
Great Britain, which leaves England on the 10th of
June next ; for Constantinople, by a steamer which
leaves May 27 ; for Rio de Janeiro, Buenos Ayres, and
Monte Video, by a steamer which leaves June 1, and
for Hudson's Bay, Vancouver Island, and Sandwich
Islands, by vessels which leave England during this
month.

SHIP ON FIRS.—MELBOURNE, Feb. 2.—On the 16th
of December, Captain Grant, of the ship Tay, recently
arrived at Adelaide, discovered smoke ascending from
the main hatchway, and upon making the closest
examination of the larlen hold, ascertained that the
coal had become ignited by spontaneous combustion.
To attempt to extinguish the fire by removing any
portion of the cargo, and so giving the air free ad-
mission to the hold of the vessel, would probably
have proved a most destructive course. A more safe
remedy, that of battening down the hatchways, was
adopted, and the captain, the first officer, and a few of
the crew, to whom alone the perilous accident was
known, watched with anxious solicitude for the general
safety, and whilst the captain cracked on the vessel with
sedulous earnestness, the cause of his eager efforts to
terminate the passage was unknown to his passengers,
whose ignorance, whilst it did not exaggerate their dan-
ger, preserved them from unceasing and torturing alarm.
Above the coals were 150 barrels of gunpowder, and a
large quantity of spirits. The fire was subdued, and
.there is little doubt but that she will deliver her cargo
In good order,—Shipping Qazdtc.

LA FEST FOREIGN NEWS.

THE WAR.

CONSTANTINOPLE, MAY B.—Narvik Paella, who,
was lately charged with the negotiation of a loan,
is appointed Ambassador at Paris.
Masluin Bey, Minister of Commerce.
Nemet Pacha, Minister of Police.
Vely Pacha, Governor of Candia.

The Sultan, after having paid a visit to Prince
Napoleon, invited his Imperial Highness to dinner.
Marshal St. Arnaud arrived at Smyrna May 6.
A division of the French army has left Gallipoli
for Mazur.

An Egyptian-Turkish squadron goes into the
Black Sea, probably to Varna.

THE BALTIC.
THE FLEETS NEAR CRONSTADT.

Letters received yesterday from St. Petersburg,
dated the 9th inst., state that the British fleet had
been seen within 25 to 30 miles off Cronstadt, and
had captured a number of Russian gun-boats.
COPENHAGEN, May 16.—The houses on the right
bank of the Neva, at St. Petersburg, have been de-
molished. The telegraph to Stockholm is open.
COPENHAGEN, May 11.—The leprosy is spreading
so rapidly in Norway that fears are entertained of
its becoming a general sickness, as in the middle
age. Strong efforts will therefore be made against
it, and the Parliament have made large grants for
hospitals, in which the incurably sick will be al-
lowed to reside. No one will be allowed to marry
while afflicted with this disease. A ship loaded
with cannon-balls has been stopped by the local
customs officers in Newcastle, and it will not be
permitted to sail until further instructions arrive
from the English Government. As this was a
Norwegian vessel, the subject excites interest in
that country. The French fleet, or rather its first
division, is in the Great Belt. The ships distinctly
stated to have reached the Swedish coast, may pos-
sibly have been the Swedo-Norwegian squadron.
The last number of the Aftonbladet 'Contains a
long letter from a female correspondent, residing
on the island of Muskey; descriptive of the death
of Lieutenant Freeland, his solemn burial, various
visits and adventures on board and ashore. The
whole is so graphic and charming that it ought to
see light in an English dress, but its length forbids.
Th e following is an extract of an interesting letter,
written by an English gentleman now cruising in
a yacht in the Baltic, to a friend in Paris. It is
dated May 5 :
" A wet day at anchor in a smooth water cove on the
Swedish coast has tempted me to write to you, as no
doubt you will not be sorry to hear a voice from the
fleet. I left Southampton in a yacht on the 10th of April,
with very rough weather, and a continued heed-wind to
fight against, and at last made the fleet in Landsart Bay
(or fiord), about 60 miles north of Stockholm, in a small
cove of which we are at anchor, while the fleet is bang-
ing away at practice in the fog outside. Napier has
22 ships here-- 14 line-of-battle ships, and the rest
paddle-wheel steamers. The remainder of the fleet,
screw-frigates and paddles, and about six more liners,
are cruising about the Baltic off the Gulf of Finland.
The fleet has come here a month too soon, the ice having
only just broken up at Sweaborg and Cronstadt. On
Sunday there was a thick snow storm, and ice falls from
the rigging frequently of a morning. We have had
fogs, lasting 36 hours at a time, so thick that we could
not see twice the length of the yacht ; and when it
cleared, not knowing where we had drifted to. I saw old
Napier yesterday. I believe, from all I can hear, that
something is to be done on the Finland coast, or in the
Gulf, the moment the weather lets them see their direc-
tion for firing. You can conceive nothing finer than
this finest of all fleets. The Swedes and Danes are, to
a man, with us, and every tolerably fine day brings
crowds to cheer us. Tne King and Court at Stock-
holm, too, I understand, would be glad if an excuse
offered to make them join us. We have sent about 17
prizes home to England, setting the crews at liberty on
parole
poorna vy onn
manyand Danisheb
r es
g.
ga
eno
ddr Swedish
Ctoou
brl
ea n
sentd e r s
L, offeredground. a
England,
t o ny of these
enterand ouro on
leaving the ship they were taken by to the shore, they
shook hands all round, and gave three cheers for
England.
"The fleet in the Baltic now is 45 sail, 2,250 guns,
and about 23,400 men ; this is inclusive of the French
fleet of five ships of the line, four frigates, and four
steamers,

" I don't think Cronstadt or Sweaborg will be bom-
barded ; they are in such difficult channels that without
the steam power it would be quite impossible to get into
position to attack, as stone walls and casemated batte-
ries must be fired at from not more than 200 yards dis-
tance. No doubt an attack on Sweaborg might and
would be entirely successful, but of course not without
severe loss and much damage to our ships ; immediately
alter which out would come the untouched Russian
fleet of twenty-seven sail of the line and thirty-eight
large frigates from Cronstadt, and fall on our disabled
fleet. Napier is bold enough ; but if the Russians ex-
pect him to commit some rash folly through love of
fighting, they are much mistaken. The St. Jean &Acre,
Captain Keppel, is unquestionably the finest and most
efficient ship here—ninety-one heavy guns on two clear
fighting decks. The Austerlitz, the only Frenchman in
this quarter yet, is a very fine ship, the men very clean
and smart aloft. We have not seen their target practice.
Their great gun exercise is not so quick as ours, the
command being `un, deux, trois,' instead of ' one, two.'
I don't expect to go home before next month, but I hope
to see something worth seeing before I leave."