The Sun.
London, England, 1838-05-22 00:00:00

Dollars.
Collections in April 1835 130,075 01 Canal opened 15th
ditto 1836 53,287 29 ditto 25th
ditto 1837 89,077 72 ditto 20th
ditto 1838 126,287 61 ditto 12th

The quantity of merchandize cleared on the canal at Al-
bany and Troy, for the months of April 1837 and 1838, is as
follows, viz.

1837. 1838.
Albany 7,248 tons 8,225 tons.
Troy 3,055 4,860

10,293

13,085 tong.
10,293

Increase 2,792 tons.
In April 1838 there passed over the railroad 480 tons of
merchandize which was cleared on tho canal at Schenectady.
The quantity of Flour brought to tide water in the month
of April, 1837 and 1838, is as follows, viz :-
1837. 1833.
Albany 11,227 tons 94,772 tons.
Troy

16,148 barrels 34,043 barrels.
16,148

Increase 17,895 barrels.
There came over the railroad in 1838, 948 barrels of Flour.
There arrived at Troy in 1837, 23,000 bushels of Wheat,
and in 1838, 39,235 bushels : at Albany, in April, 1837,
1,436 bushels, and in 1838, 4,498 bushels.—lncrease in 1836
over 1837, 39,997 bushels.
Business continues to increase with a slow but sure pace.
All parties agree that the fall business promises to be exceed-
ingly good. The Great Western will go out nearly full cf
passengers,fand we understand that a number of our importers
are about to visit England for the purchase of their own goods.
Among the many advantages which the importers will have by
this new era in steam navigation, will be the quick return of
orders, and also with the same credits as heretofore, a longer
time to get his goods into cash before his notes fall due. The
return freight of the Great Western is already engaged.
COTTON.—Considerable has been doing to-day in this ar-
ticle; 100 bales of Mobile sold for 941-c. Several other small
sales for home consumption were made of an ordinary kind at
a deduction of 4 cent from our last quotations,
AT NEW ORLEANS, Aran, 28.—There had been a fair busi-
ness doing in this article, the transactions of the week amount
to about 14,000 bales at the full rates of last week ; on Sa-
turday and Monday there was little doing, on Tuesday the
market opened, and sales were principally effected on that and
the two succeeding days. Yesterday there was but little done,
but as freights have came down, purchasers may enter tile
market more freely the ensuing week.
The exports are 490,193 bales against 437,245 to the same
period last season, making an excess of 52,948 bls., which
stand thus

Flour is looking up again-370 bales Western sold to-day
for d. 7 70; 65 ditto Ohio, d. 7 50. This is an advance over
our last quotations of full 25 cents per barrel.
Coffee continues the same as to price. The sale the past
week have been 1,400 bags Brazil, a 10e. ; 700 bags La-
Laguira, 9} a 10c. ; 200 Maracaibo, 81 a 9; 250 St. Do-
mingo, 8 ; 200 Cuba, 101- a 10.1.
Rice on the advance, and the demand continues brisk ; 100
were sold to day at 4a 4 ; good quality stock is very light,
and holders refuse to sell unless an advance is submitted to.

TIIE GREAT WESTERN.—This magnificent vessel is to sail,
or rather steam to .day, and should the weather prove fair ou r
bay and harbour will present a most beautiful appearance;
several excursions having been planned to take parties to
Sandy Hook. The steamer New York rill leave Beckman-
street at two o'clock, having on board Dodswortd's band, and
such of our friends as wish to see the gallant bark " kiss the
dark blue waves," cannot do better than accompany Captain
Stone, who is as polite and gentlemanly a fellow as ever stept
between stem and stern.—The New Era.

BRITISH CAPITAL IN THIS COUNTRY.-It is computed that
the whole amount of American Stocks held in Europe, and
principally in England, amounts in the aggregate to 110,000,000
dollars. Of this sum the state of Louisiana is the greatest
debtor, say 22,000,000 dollars, and Pennsylvania 16,000,000
dollars. The sum of 20,000,000 dollars of the United States
Bank in Pennsylvania, is also owned in England. In this es-
timate is not included the Manhattan Bank, and several other
Banks and Insurance Companies in this and other cities, a
great part of the stock of which is owned in England.
There can be no doubt that the whole amount of British
capital employed in this country, including every species of in-
vestment, as well as permanent stocks, real estate, as also in
commercial business, over and above all credits in Europe, in
the ordinary course of trade, greatly exceeds, perhaps quad-
ruples, the sum total above mentioned. This is the over
trading, and it is to this circumstance mainly that we are
indebted fcr nine hundred banks in this country. Not that
any great proportion of the stock of these banks is owned in
England, but because the investments of British capital in the
manner above-mentioned, has left American capital unem-
ployed, and it has sought investment in our State Bank?.
This is the true source and root of the evil which our Ameri-
can statesmen have strangely overlooked in their researches
and speculations on this subject.
LATER FRONI EUROPE.-The packet ship United States,
Captain Holdridge, arrived last night, having sailed from
Liverpool on the 9th ult., and consequently brings London
papers of two days later than those received via Bristol, by the
Great Western. The late hour aj which we received our
files, must be our apology for not making extracts. They do
not contain any news of the least political importance ; the
principal topic under discussion being the prospective result.;
of the great experiment of navigating the Atlantic by steam.
FROM MEXICA AND TEXAS. —By a slip from the office of
the New Orleans Bee, dated the 28th ult., we arc put in
possession of the following important items
Schooner Sarah Ann, Captain Bontems, three days from
Tampico, returned to this port last evening, in consequence of
the Texian ports being blockaded by the French squadron.
The French brig of war La Perouse, was off Tampico on the
22d inst., the blockade commenced at Vera Cruz on the I sth.
Lieutenant Henry, who boarded the Sarah Ann, informed
them that the Mexicans refused to pay them the Indemnity,
and the French were determined to compel them.
The United States ship Natchez, sailed for Pensacola, in
order to make known the blockade.

FROM TEXAS.—By the arrival of the steam-ship Columbia,
in 39 hours, frem Galverston, we have been informed that the
Texian Congress met, and requested the President to have
the petition to the United States for annexation immediately
withdrawn. It was on receipt of a dispatch from the Texian
Minister to England.

(New York American, Saturday Evening, May 5.)
Of of tho Pensecola Gazette, April 25, 1838.
IMPORTANT FROM MEXICO.

The United States' schooner, Grampus, Sanders, Lieu-
tenant commanding, arrived this morning from Vera Cruz,
and brings intelligence that the French squadron is now
blockading the Mexican coast. It was supposed that the
castle of St. Juan de Ulloa, would be immediately invested,
and that, from its condition, it could not hold out any length
of time.

The Mexicans were willing to pay the indemnity demanded
by the French, but the latter required some apology, which
the Mexican Government refused to make. One individual
had offered 10,000 horses, and the Church bad agreed to
supply one million of dollars to carry on the war.
The French squadron consists of one frigate and five brigs
of war, to which additions are expected. The French ships
of war at Martinique and Havana, had been ordered to repair
immediately to Vera Cruz,
The Mexican Government is confident of its strength and
ability to meet the present emergency, but apprehensions were
entertained that if the French squadron should bombard the
City of Vera Cruz, the Federal party would take part with the
enemy, and the city would be sacked. All the women and
children were removing to Jalapa, a town a few miles from
Vera Cruz. The Mexicans and inhabitants were removing.
all their valuables.

When the Grampus was at Vera Cruz, intelligence was
received from the seat of Government, that the iVlexicen Con-
gressrm the
o had before a proposition to expel all Frenchmen
The French brig of war Eclipse also arrived here this
morning„ and exchanged salutes with our squadron.

(From the Glol)e of yesterday.)
OFFICIAL.

U. S. FRIGATE CONSTELLATION,
PENSACOLA BAY, APRIL 23, 1838.

Sir,—Th:, Grampus has this moment returned from Vera
Cruz, and brings the enclosed papers, being a report from
Commander Breese, dated the I6th instant, and copy of a
letter to him, with circular enclosed, from the French Com-
mandant off Vera Cruz, declaring a blockade of all the ports
of Mexico. The ultimatum and reply mentioned by Com-
mander Breese was not forwarded by him, but I understand
they will be found in a package of pap A-s from our Consul at
Vera Cruz to the Secretary of State, wliich I this day trans.
mit by the regular mail.
The Ontario and Concord are now in the Gulf, the first at
Vera Cruz and the latter cif Tampico.
The Vandalio sails to-morrow or next day for the coast of
Texas and Mexico.

I have the honour to be, very respeeeully, your obedient
servant, A. J. DALLAS.
Hon. NIAHLON DICKERSON,
S-cretary of the Navy, Washington, D.C.

United States ship Ontario,
Sacrificios, April 16, 1838.
Sir,—l despatch the G7ampus to apprise you that the
French Minister, Baron Deffaudis, received yesterday from
Mexico the reply of this Government to • his ultimatum, which
not proving satisfactory, it has been determined to commence
immediately the blockade of the ports of the Republic. Herewith
I send the French Commander's circular to that effect. I have
roquested our Culaul to pricure a copy of the French ultima-
tum, and the reply thereto, and hope to obtain them in time to
fora:-rd by the schooner.
There are no merchant vessels of any nation now in port,
and but one American—the Ann Eliza of New York—ex-
pected.
dThe blockade will be rigid as respects merchant
ves3cls, but, none others. The French force consists at present
of one frigate and five brigs ; another frigate daily expected.
A gun brig w ill leave this evening, with despatches for the
French Minister in the United States, for Pensacola. _ .

The Concord is here, and I shall direct Captain Fitzhugh
to proceed off Tampico, communicate with our Consul there,
and proffer any assistance that our countrymen there may re-
quire at his hands. I shall remain with the ship here, until
the excitement that the hlocka.le may crate on shore has sub-
sided ; and then, if the presence of a vessel of war be no longer