The Sun.
London, England, 1854-07-13 00:00:00

THE SUN, LONDON, THURSDAY EVENING, JULY 13, 1854.

man whose views they believed to be in accordance
with those of the majority, and, therefore, even
with such bribery as could be practised the same
conclusion would be arrived at as if it were totally
checked.

Bribery and corruption would thus be nearly,
if not altogether, avoided if " the Ballot" were in-
troduced ;so far, indeed, that the exception
would even more strongly prove the rule,
while any offence would be hunted out with
a keener scent, and punished with more
stringent severity when the detectors and aven-
gers could conscientiously declare themselves to
be free from any taint of the offence. But the
remedy would be complete in cases of intimida-
tion, whether of landlord, creditor, employer, or
customer. It would be impossible to punish any
man for what could not be brought home to him.
The tenant in arrear might go up boldly to the
polling-booth, without dreading to find a distress
or an ejectment for non-payment of rent awaiting
his return. The debtor would not fear arrest,
the workman discharge, or the small tradesman a
loss of custom, for having given a conscientious
vote. Nor need the sacerdotal malediction or
mob violence be dreaded. Why, then, resort to
such round-about methods of achieving that which
may be directly accomplished ?

" Melius est pet ere fontes, quam sectari rivulos."

Far better to strike at the root of the evil than
to strive to punish the few cases that may be de-
tected. If the House really wish to prevent, or
even materially to check, the practice, let them
resort to that which alone can prove effectual—
the Ballot. The other matters may be valuable
adjuncts, but, without the grand protection, must
prove worse than useless.

MONEY MA RKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 6,000 hales, including 1,500
American taken for export and on speculation.
The market was tame and heavy, with prices
slightly in favour of buyers. The sales comprised
5,000 American, 60 Pernam and Maranham at
611 d. to 6d., 60 Bahia at 6id., 200 Egyptian at
sid. to Sid., and 500 Surat at 3d to 3id. per lb.
Railway Shares were flat, at declining prices.
The Enchantress has arrived from Geelong with
1,056 ounces of gold. Her dates are only to
March 17.

The overland express from India reports trade
dull at Calcutta. The letters via Marseilles will
be here about the 16th inst.
The Brazilian Mail has arrived. Trade was rlther
dull at Rio. Exchange 26id. to 27d. on London.
The weekly meeting of the Bank of England Di-
rectors has broken up without any alteration in the
minimum rate of discount being announced. What-
ever may be said of the inconvenience to the mer-
cantile community with small profits and 51 per
cent. to pay for even short dated and unexception-
able bills, except where accommodation is sought
in Lombard Street, at the slight difference
arising from competition, it has to be borne in
mind that there are capitalists whose trade is in
money, and who seek every opportunity of making
a profit, regardless of any general result. The
only way to repress this inclination, therefore, is
to destroy the chance of gain, but it is unfortunate
that the plodding trader, keeping fairly within his
means, and only seeking occasional legitimate aid,
should be pinched to serve this end. We
have always been of opinion that a marked
distinction should be made in such cases,
and in critical periods the Bank of England
has done its duty in this respect by declining to
discount the paper of leviathan firms, not upon the
ground that the security was bad, but that the
money was to be shipped to the continent or else-
where, or that some other operation adverse to the
exchanges was to be entered into. Just now it
would afford great relief if this distinction could
be drawn. We hear, for example, that exports of
gold to a larger amount than of late, are likly
to be made ere long, and we can easily surmise
which are the firms that will be concerned
therein. It would be unwise to interfere
' with the free course of business, by prevent-
ing the necessary payments for goods received
here, or to impose obstacles to specie remittances
which our Government must periodically make to
the forces engaged in the war, but the houses inte-
rested can well afford to pay the highest charge
asked at the Bank, considering the magnitude of
their operations, and their comparative safety. The
mere speculator in produce, useful as he is in attract-
ing supplies from abroad, and balancing the markets,
so as to obviate alternate glut and scarcity, is
nevertheless not fairly to be placed in the same
category with the steady going merchant, and could
likewise be made to pay handsomely for loans, but
5 per cents. would be fully as much as traders
in general can now afford to give.
The lower range of prices in the English Stock
Market, has not only brought in buyers for money,
but has likewise caused a few Bear speculations to
be closed, giving an additional impetus. There is
now some difficulty in,ascertaining whether the ac-
count is not Bullish, although within the last week
the tendency has been to operate for a fall. Con-
sols opened at 901 / for Transfer, dropped to 901
upon its becoming known that the Bank of England
had not reduced the rate of discount, and are now
91i ft, a rally of 1 per cent. The time dealings
have been at 901, and since at 911 g-. The New
3i per Cents. have been 911 and since 91i to
92, Bank Stock is up 1 to 2 per cent., having
reached 210. Exchequer Bills are Is. discount to
3s. premium, and the Bonds to premium.
The Foreign Stock Market has been very dull.
Venezuela Bonds have been done at 25, and the
Deferred 10/ to 111. Mexican Stock is at 24, and
Buenos Ayres at 56. Russian 4 per Cents. have
been 81i, and the 5 per Cents. 98. Dutch 4 per
Cents. are 90. Nothing has been done in Spanish
or Portuguese.
The following are the nominal prices of Foreign
Stocks :----Grenada Deferred Bonds 6 to 61, Mexi-
can 24 to 24k, Peruvian 65 to 67, ditto 3 per
Cents. 50 to 52, Portuguese 4 per Cents. 39 to 41,
Russian 5 per Cents. 96 to 98, ditto 4i per Cents.
80 to 82, Spanish New Deferred 181 to 19, ditto
3 per Cents. 37 to 371, ditto Certificates 4 to 41,
ditto Passive 31 to 41.
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 19,459 19,027
Caledonian, and Edin. and Glasgow 16,309 14,455
Great Northern 18,2:1 15,708
Lancashire and Yorkshire 19,852 19,442
York and North Midland
Newcastle and Berwick 30,020 27,195
Leeds Northern

The railway share market has been about A per
cent. better for some of the English lines, but with
no increase of business, the adjustment of the ac-
count occupying the dealers. The interest charged
for carrying over shares is very small generally,
and in some cases they are placed " even" to the
next settling day. Caledonian, York and North
Midland, Great Western, and North-Western, are
most ,buoyant, not being very fully supplied.
French shares have been quiet at about the former
rates.

The Gold Mine Shares and Banks are dull. The
Crystal Palace Shares have improved toe discount.
The land shares are firmer.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
( Prom the Oftcial List.)

Hank Stock .....
2083 10
3 per Cent. Reduced Annuities
3 per Cent Consols Annuities,,,,,,, 903
34 per Cent. Annuities . ....................... 91A 2 1i 2i a
Lung Annuities, Expire sth Jan., 1860 ... 43
India Bonds, £lOOO • • l3 p
904 1a
Exchequer Console for O pßeinllisn.g2l449, July

B 1000
2500 par 3 p d
Small 1 4 p
Exchequer Bonds, 1858 .....
Ditto Scrip, 1&)9
PRICE OF FOREIGN FUNDS THIS DAY,
Buenos Ayres Bonds, 6 per Cent
„i„u 3 per Cent. ......... . ... . ..... .
Russian Bonds, 1822, 5 per Cent. £ *St.
Ditto for the Account 9B
Ditto 44 per Cent .......... .
Venezuela Bonds, 34 per dea.t. 25
Ditto Deferred, 1 per Cent ll4 105
Dividends on the above payable in London.
Dutch Exchange, 25 per Cent. 12 Guil 585 x d
Ditto 4 per Cont. Cortifleates .
THREE O'CLOCK.
Consols for Opening 19th July

COUNT NICHOLAS PAELLEN.