The Sun.
London, England, 1854-05-22 00:00:00

THE SUN, LONDON, MONDAY EVENING, MAY 22, 1854.

figured before the House as the author of nearly
half a dozen accepted financial statements, instead
of, as with Mr. DISRAELI, one unsuccessful Budget.
Nevertheless, if Mr. DISRAELI cannot claim the
credit of carrying one after another a series of
elaborate Budgets through the Commons—he can-
not at the same time be charged with having
left• the country at the close of the
financial year with empty coffers, as the
evil consequences of perverse and abortive
experiments. Elsewhere will be found a few sug-
gestions, and some of them exceedingly sagacious
comments, upon the course pursued respectively
by Mr. DISRAELI and by Mr. GLADSTONE, while
presiding in their official capacity over the finan-
cial department of the Administration. The re-
marks alluded to, as may be observed, have been
sent to us from the cotton capital of Lanca-
shire by a shrewd and intelligent correspondent.
Mr. GLADSTONE once upon a time indulged the
world with a peep at his correspondence with " A
Birmingham Clerk." We may be allowed, there-
fore, surely to lay before the public our brief
communication from " A Manchester Warehouse-
man." We do so the more readily, because our
correspondent proves himself, by every syllable of
his sententious observations, to be a thoughtful
and impartial spectator of things as they are—
not as they are sophistically represented to be
by the partisans, and sycophants, and adulators
of Government.

SHOCKING AND FATAL ACCIDENT ON
THE BIRMINGHAM AND NORT li -
WESTERN BAIL WAY-TB IS DAY.

(FROM A PASSENGER.)
MAT 22.—1 was waiting at Coventry this morning for
the Birmingham train, which was to arrive at one
o'clock from London. At half-past one no train ap-
peared, and the officer, fearing an accident, worked the
telegraph with inquiries to Birmingham. They worked
very long, but in vain. It appeared that no one was
at the Birmingham office to attend to the telegraph.
Was this right ? They then gave it up. In five minutes
more the train arrived, with a gentleman lying on the
floor, at the foot of the guard, quite insensible, and
with his two legs cut off and placed upon his body. It ap-
peared that the gentleman was a Birmingham merchant
named Barnett, who wasalone in the last first-class car-
riage, returning to his private house a little on the other
side of the Beechwood tunnel ; that in passing through
the tunnel the guard felt the break suddenly lifted up,
and instantly stopped the train and got out, and walked
back to the place where the occurrence happened.
In the tunnel he found a gentleman lying across
the rails much mutilated, the door of the last car-
riage open, and the cushioned inside board of it torn off.
The gentleman was put on the train and conveyed to
Coventry, a distance of about four miles. On ar-
rivin4 there every attention was paid to him.
The suffererer was carried on a tarpauling into a van
and conveyed to the hospital, a messenger being sent in
the meantime to the hospital. By this time he was
breathing his last. We came on to town ; and at
Rugby particulars were telegraphed to his family in Bir-
mingham.

How he got out of the carriage nobody at presen
knows.

lIIGHLAND SOCIETY OF LONDON.

On Saturday evening a general court of this ancient
society, very numerously attended, was held in the Free-
masons' Tavern under the presidency of the Chisholm,
supported by Sir Charles Forbes, Bart., Dr. Stewart
Chisholm, R.A., P. F. Robertson, Esq., M.P., W. F.
Caldwell, Esq., of Mishinish, J. Tullock, Esq., F.R.S.,
J. Sutherland, Esq., &c., &c. The principal business of
the evening, after the usual loyal and patriotic toasts had
been proposed by the chairmen, and heartily responded to,
consisted in the presentation of a handsome service of
plate to George Bain, Esq., the Honorary Secretary.
Sir Charles Forbes, Bart., in presenting the plate to
Mr. Bain, on the part of the numerous members of the
Highland Society of London, begged of him to receive
it as a small token of the deservedly high esteem in which
they regarded him as a gentleman, and as their honorary
secretary, who had during his long connection with the
Highland Society of London, given them so many proofs
of his zeal in upholding its character, and promoting,
by every means in his power, the national and benevo-
lent objects with which it is identified. On the part of '
the members of the society, and from the bottom of his
own heart he would only add,—" May God bless you,
and grant you long to keep and to enjoy this testimo-
nial, which cannot express a thousandth part of the
esteem in which we hold you."
Mr. BAIN regretted that he had not language in which
he could express the sense he entertained of the kind-
ness which had prompted his friends of the Highland
Society to present him with the handsome service of
plate before him, far less to respond to the flattering
tefrns in which his health had been proposed, and the
Highland enthusiasm with which it had been received.
He could assure them he always felt so happy in the
company of the members of the society that time seems
to pass as if every sand in the glass turned to gold as it
fell.' He heartily thanked his friends and reciprocated
their kind wishes.

After the health of the Chairman, and other toasts,
the company separated, after spending a most agreeable
evening.

TO THE EDITOR OF THE SUN.

MANCHESTER, May 20, 1854.
SIR,-It is a matter of conjecture among " the lower
strata of the great middle class" whether or not the
Chancellor of the Exchequer has convinced Mr. Phelps,
of Birmingham, that he is a much more able financier
than his predecessor ; if he has done so—which I very
much doubt—it would, at least, be interesting to know
on what grounds that intelligent gentleman has been so
convinced. As a member of this numerous class, I have to
ask, Why, was Mr. Disraeli expelled from office ? For
making a distinction in favour of precarious incomes !
for proposing a reduction in the tea duties ! for promis-
ing cheap administration ! and showing, during his
short tenure of office, that he meant it ! Or,
was it because the Peelites said, " his estimates
would prove fallacious," whereas time proved that he
was eminently successful in his anticipations. But I
shall be told "it was the house tax that rendered
the scheme so unpopular ;" admitting that 18d. in the
1/. at that period would have been unjust, I
have to inquire what can be more just and
equitable than a graduated house tax down to
even 6/. houses ? It would have the effect (as
Mr. Gladstone stated the other night he desires), of
causing " all classes to bear their due share of the bur-
dens," and you could have doubled your income tax at a
future and more pressing period ; and Sir, it is my
humble opinion that had not Mr. Disraeli known "what
he had to face that night," he would have withdrawn
and amended that item. But "men who judge for
themselves " saw, at the time, it was not the Budget—it
was Mr. Disraeli that was opposed, by personal feel-
ing with one party, and party feeling with the other.
And now of Mr. Gladstone ! passing over his first
Budget—a second edition of Mr. Disraeli's, with notes,
what has he done ! Stuck to one idea, and that not his
own—the Income Tax for 7 years—half as much added
to ditto—ditto doubled, and, I suppose, the next move
will be 14d. and 18d.
In ray opinion, sir, it is most lamentable that at the
present momentous period—through personal spite and
party feeling- two such statesmen as Lord Palmerston
and Mr. Disraeli cannot be associated together for their
country's welfare, while Lord Aberdeen's foreign policy
is being seconded by a Clarendon, and our finances ad-
ministered by the casuistical Gladstone.—l am, Sir,
your very obedient servant,
A MANCHESTER WAREHOUSEMAN.

MONEY MARKET

AND
COMMEBCIAL INTELLIGENCE

It is stated by the Finnish captains of vessels
that have been seized and brought to England by
our cruisers, that there are numerous small posts
or forts along the coast of Finland, similar to that
taken by Admiral Napier, and that there is no
chance of their holding out. It seems, indeed,
very questionable if the Russians should not have
evacuated them, so as to spare their forces for other
purposes.

The accounts brought by the Arabia from New
York represent the market for breadstuffs as being
dull. The home demand kept prices above the
limits of foreign orders. Stocks were tending
downwards. The specie shipped in the week to
May 6, amounted to 1,671,012/. The last weekly
City Banks return showed an increase in every
department. Money was expected to get tighter.
Freights were dull, and rates low for Liverpool.
The grain crops had in some districts been affected
by the frost.
The Canadian advices are again satisfactory.
The quarterly returns relating to trade show a
considerable augmentation in the exports and im-
ports. There was an expectation at Montreal that
breadstuffs would materially advance. The ships
from Europe were arriving out, the St. Lawrence
being open.
From California the mining news is highly en-
couraging. Business continued to improve, and it
was asserted that the State was never more pros-
perous. Emigrants were arriving fast. The culti-
vation of the soil kept pace with the increased
population, and sufficient breadstuffs would be
raised this year to supply the entire State. Forty
thousand acres of wheat we-e growing in San
Coaquin country. Several rich gold discoveries
had been made, and a quicksilver mine of great
richness. The San Francisco Mint was in opera-
tion, but the new coin was not yet in circulation.
The demand for money is stated to be brisk again
this morning, and the fact of specie being with-
drawn from the Bank of England, although the
arrivals were last week so considerable, is evidence
that there is such a scarcity of bills, that even the
nominal improvement in the rate of exchange will
not prevent bullion being sent in. There is, how-
ever, this much in our favour that we received
last week 700,000/. and sent away 300,0001., con-
sequently the excess will either serve to meet fur-
ther requirements, or replenish the amount in the
Bank vaults. The steamer Arabia from New York
brings 180,000 dollars, and what the Union arrived
with on Saturday will go to augment the abundant
supply of cash already in the principal citiesiof the
Continent.

The English stock market is extremely dull this
morning, and has given way to per cent.
Paucity of business is undoubtedly the principal
cause, but there is a little suspense about the de-
bate that will arise upon the budget of the Chan-
cellor of the Exchequer. The prevailing impression
seems to be that Mr. Baring will not succeed in his
opposition. Another circumstance that is against
Consols, and has led to sales by one or two leading
brokers, is the increased demand for money, and
the rumour that it will not be long before the Bank
of England again puts up its minimum, rate of dis-
count. Without attaching too much importance
to this view, we believe the speculators will influ-
ence the market with it. Finally, there is the
prospect of an augmentation in the rate of interest
upon the unfunded debt, which would thence ob-
tain readier currency than stock. Consols have been
891 for transfer, and since 88k. The account prices
have not been higher than 89, and are now 88R- 1.

- •
Bank Stock is heavy at 202 f, and India Stock at
233. Exchequer Bills have been at 2s. discount to
ls. premium, and India Bonds at ss. discount.

Foreign Securities have been rather inactive, but
without any marked change in the price. Mexican
Bonds have been quoted 241, and Peruvian 62k.
Grenada have been at 17, and Brazilian New at
96/. Russian Five per Cents. have been supported
at 95. Sardinian Bonds realise 821 to 83. Spanish
Three per Cents. have been done at 35k, and the
New Deferred at 18/
The railway meetings announced are the fol-
lowing :

Company. Date. Place, &c.
Cork and Bandon May 24, 17, Gracechurch-st.
Kilken. and Gt. S. and W. Ire May 29, 17, Gracechurch-st.
Killarney Junction May 31, Dublin.
Leeds Northern May 27, Leeds.
Londonderry and Coleraine May 23, Coleman-at.-build.
Northern of France May 24, Paris.
Royal Swedish May 29, Stockholm.
South Devon May 23, Plymouth.
Southern of France
Stirling and Dunfermline Juno 1, Glasgow.
Victor Emanuel (Sardinian) May 23, Paris.
Waterford and Kilkenny.,,,,, May 31, London Tavern.
The Railway Market has been relatively better
supported than the funds, but the amount of busi-
ness done is not large. Caledonian, Lancashire
and Yorkshire, North-Western, and South-Eastern
have been principally dealt in. French Shares have
been slightly in favour of buyers.
In Mines there is but little doing, Banks have
gone back about 4 per cent., and the Land Com-
panies are nominally at previous rates.

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

RnsineSs (lane
Bank Stock ... 2024
3 per Cent. Reduced Annuities BB 78
3 per Cent Consols Annuities 893/4 8i
3 per Cent. Annuities, 1726
L nig Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire sth Jan., 1860
India Stock
India Bonds, £lOOO ... , „ —
Ditto, under £lOOO 5 d
Consols for Account 6th June B9 83
Exchequer Bills, 2d.
_

£IO6O
2500 2 d
Small 1 d
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent. 97
New Braizilaußonds, 1829 & 39, 5 per Cent. 96}
Grenada Bonds, Ex. Dec., 1849, Coupon l7
Aexican 3 per Cent.
Peruvian Bonds, 4i per Cent. 624
Russian Bonds, 1822, 5 per Cent. £St 95
Sardinian Bonds, 5 per Cent....... B3 21
Spanish Bonds, 3 per Cent 3BB
Ditto New Deferred, 3 per Cent. l4 i

Dividends on the above payable in London.

HALF•PAST TWO.

Consols 8 -E
8
Ditto June Account ... 882

THE FASHIONABLE WORLD.—The lioness of Saturday
evening was Lady Ashburton, to whom Lady Palmer.
ston gave way. Her ladyship received a distinguished
circle on the evening of the Queen's birthday, at Bath
House, Piccadilly. All the attendants at the State
dinner flocked there at a late hour—the scene in the
greatrooms of the mansion forming a variation of colours
most pleasing, so many were the costumes.
MARRIAGES IN HIGH LIFE.—A marriage is on the
tapir between Miss Graham, eldest daughter of the
Right Hon. Sir James Graham, M.P., First Lord of the
Admiralty, and Lord Grey de Wilton, eldest son to the
Earl of Wilton. The marriage of Lady Beatrice
Hamilton, daughter to the Marquis of Abercorn, with
the Earl of Durham, is expected to take place during
the present week.

BERLIN, MAY 17.—His patriotic Majesty, the King
of Prussia, has conferred the following distinctions upon
the Russian officers specified below : —The red order of
the eagle, first class, to the Lieutenant. Generals Riesen-
kampff, Tutschkoff, and Tenner, all three holding rank
and office in Russia or Russian Poland ; the red eagle,
second class, to Colonel Ulrich, and the same, third class,
to Colonel Maximof ; the sahie, fourth class, to Captain
Bjoern, to First Lieutenants Masloff and Jegoroff, and
to Second Lieutenant Renwald.

KING or HOLLAND.—A. letter from the Hague, of
the 16th, says : —" The King yesterday incurred some
danger in consequence of the horses running away with
his carriage, and galloping at a fearful rate through seve-
ral streets, before the coachman could pull them in. His
Majesty remained quietly seated in the carriage, and in
that way escaped all injury. After a short delay the
coachman was able to drive on to the Maison du Bois,
the palace where the king was going to when the inci-
dent occurred.

CITY, TWO o'CLOOS.
The sales of cotton at Liverpool on Saturday
were estimated at 5,000 bales, all to the trade. The
market closed heavily, but there was no quotable
change in prices. The sales comprised about 4,250
American, 150 Bahia at qd, 300 Egyptian at sd.
to 11d., and 300 Surat at 3d. to 30. per lb. Rail-
way shares continued dull.
Wheat is firm this morning, although the arrivals
are large.
The public sales of tea have just concluded. Of
38,005 packages offered, 9,000 only have been sold,
and the auctions close flatly.
Accounts from Galatz state that 8 lonian mer-
chant ships had been captured by the Russian
authorities there, and the crews made prisoners of
war.

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