The Sun.
London, England, 1853-02-16 00:00:00

COURT CIRCULAR.

The Queen will hold a Privy Council on Monday next,
at Buckingham Palace. Summonses were issued yesterday
to the Ministers and great officers of State.
His Royal Highness Prince Albert, attended by Colonel
the Hon. Charles Grey and Lieutenant-Colonel the Hon.
A. Gordon' went xpsterday morning to the Trinity-house.
In the afternoon, his Royal Highness, attended by Lieu-
tenant-Colonel the Hon. A. Gordon, paid a visit to her
Royal Highness the Duchess of Gloucester, at Gloucester-
house, Piccadilly.
Her Majesty and his Royal Highness Prince Albert, at-
tended by the Marchioness of Ely, the Hon. Flora Mac-
donald, Lord Rivers, Lord Alfred Paget, and Lieutenant-
Colonel the Hon. A. Gordon, honoured the Princess's
Theatre with their presence last evening.
The Marchioness of .Ely' has relieved the Countess of
Charlemont in her duties as the Lady in Waiting to the
Queen.

Lord Rivers has relieved Earl Somers in his duty of Lord
in Waiting - and Sir Edward Bowater has relieved Captain
the Hon. Mortimer Saekville West as Groom in Waiting
to her Majesty.

A deputation, consisting of Lord Hatherton, Lord Wrot-
tesley, the Hon. E. R. Littleton, Mr. Hordern, Mr. Rutter,
Mr- Hayes, Mr. Waters and Mr. Williams had an inter-
view with the Right Hon. E. Cardwell and Lord Stanley
of Alderley yesterday at the Board of Trade.
Mr. John Wood, Chairman of the Board of Inland Re-
venue, and Mr. Timm, had an interview with the Chan-
cellor of the Exchequer yesterday at his official residence
in Downing-street.
Mr. Ross had an interview with the Duke of Newcastle
yesterday at the Colonial-office.
Mr. Monsoll, M.P., had an interview with the Chancel-
lor of the Exchequer yesterday. Sir Alexander!Spearman
had also an interview with the right hon. gentleman at his
official residence in Downing-street.

EXCHEQUER BILLS. -REDUCTION OF

INTEREST.

Surprise was created in the Stock Exchange this morn-
ing by the issue of a notice that the interest on the Ex-
chequer Bills which fall due on the 10th of March next,
will be reduced from its present rate of three-halfpence
per day, or 2/. ss. 7Ad. per annum, to ono penny per day,
or V. 10s. sd. per annum. A reduction similar to that
which took place in the June bills last spring—namely, to
one penny farthing, was of course expected, but inasmuch
as Sir Charles Wood had refused last year, when the Bank
rate of discount was only 22 per cent., to make any re-
duction, even from three-halfpence per day, while Mr.
Disraeli, a few months afterwards, when the Bank was
discounting at 2 per cent., would not go below a penny
farthing, no Rea had been entertained by any one that,
with money at 3 per cent., and the possibility of a further
rise, the present moment would have been adopted for
descending to the minimum of a penny. Considerable
disfavour has therefore been expressed towards the mea-
sure by the banking interests, as well as by the Exchequer-
bill dealers in the Stock Exchange. But, although the
suddenness of the step inflicts upon them a loss, and they
have every reason to complain of the system through
which it has been occasipned, it will probably turn out
that the former Chancellors of the Exchequer aro the par-
ties upon whom their reproaches should fall. If it should
prove that these securities will circulate freely at their pro-
posed rate, even although money out of doors is worth 3 per
cent.,'it will then be impossible to deny that according to all
sound rules the step was imperatively called for, and that it
furnishes a striking illustration of the want of judgment
of Sir Charles Wood and Mr. Disraeli in resisting the
change at a period when the state of affairs was such as to
render it far more easy. It is not only on the ground of
economy that it is incumbent on. the Chancellor of the
Exchequer to obtain the funds required by the public on
the lowest possible terms, but it is equally important for
the national credit that the other countries of the world
should fairly see the position in which the obligations of
our Government stand. That neither of these considera-
tions weighed with his predecessors is a fitting cause for
regret, and as the belief into which the holders had been
lulled, that the sound principles which guide every mer-
chant in his business were not likely to be adopted by the
Government, was solely occasioned by past mismanage-
ment, the blame must be borne by them instead of being
thrown on the Minister, who is the first to act upon defi-
nite rules.
As far as the prices of Exchequer Bills were concerned,
the effect of the announcement was such as to paralyse the
market, and the only transaction that took place during
the day was for an amount of 2,0001. between two brokers
at 30s. premium. No very accurate opinion can be
formed of the quotations that are likely to prevail per-
manently, but it is believed that the market will be well
sustained. In case at any time there should be a tendency
for them to fall below par, it will be in the power of the
Government to give support by purchasing them in prefer-
ence to stock with the money applicable for the sinking
fund.
With regard to Consols, the effect of the measure, coupled
with the intelligence from France of the pacific speech of
the Emperor, was very favourable.—Times.

Her Majesty intends honouring the Haymarket with
her presence this evening.
THE WEATHER AND THE PARKS.—Daring yesterday
considerable amusement was caused in the various Royal
parks, in consequence of a great number of gentlemen
attending with skates in their hands for the purpose of
enjoying the exhilarating exercise of skating and sliding.
Although the various ponds were covered with ice, the
latter was found to be too thin for any one to venture
thereon.

B afternoon.aw Thomasa
cchK EEmi
r,—Weeainapnekeccheero:lrsyKeeganor efict tc.;luetrodo-f
DEATH OE SIR THOMAS
rai‘eninoncuoenu
Pleasant,ttnocoekp thel acdee aot
nih
iovfe
Sundar p3'BlAi ors oy
the office of Mayor of Liverpool in the year 1831, and
on the coronation of King William and Queen Adelaide
in that year received the honour of knighthood. He
was a Conservative in politics, and proposed Mr. Card-
well in 1847. At the meeting of the Town Council of
Liverpool, on Monday, his death was very feelingly al-
luded to by the mayor, and a motion to send a letter of
condolence to his family passed.
SUBURBAN POST-OFFICES.—Amongst the new Post-
office arrangements to come into operation early next
month, is one of considerable importance to residents in
the suburbs of the metropolis. It has hitherto been the
custom to collect the letters posted at the different
branch offices in the suburbs after five p.m., early the
next morning, to be in readiness for the first mail-carts ;
but Mr. Rowland Hill, it appears, has determined, and
given directions, that these suburban letters shall be
collected and forwarded to the General Post-office, St.
Martin's-le-Grand, by special mail-carts, at 10 p.m., on
the evening of the day of posting. This plan will, of
course, greatly advance and facilitate the delivery of
letters posted within the limits of what is termed the
town-post districts after five and up to ten o'clock at
night.
PRICE OF GOLD.—The quotation of gold at Paris is
about at par (according to the new tariff), which, at the
English Mint price of 3/. 17s. 101 d. per ounce for stan-
dard gold, gives an exchange of 25.17 ; and, the exchange
at Paris on London at short being 25.071, it follows that
gold is about 0.38 per cent. dearer in Paris than in Lon-
don. By advices from Hamburg the price of gold is
428 per mark, which, at the English Mint price of 3L
17s. 101 d. per ounce for standard gold, gives an exchange
of 13.61; and, the exchange at Hamburg on London at
short being 13.5, it follows that gold is 0.47 per cent. I
dearer in Hamburg than in London. The course of ex-
change at New York on London for bills at 60 days'
sight is 110 per cent., and, the par of exchange between
England and America being 109 23-40 per cent., it fol-
lows that the exchange is nominally 0.42 per cent, in
favour of England ; and, after making allowance for
charges of transport, the present rate leaves a trifling
profit on the'importation of gold from the United States.
VICTORIA LONDON DOCK.—The first half-yearly gene-
ral meeting of the shareholders of the Victoria London
Dock Company was held yesterday, for the purpose of
receiving a report from the directors of the progress of li
the undertaking. The works of the company, complete
and fit for use, are to be delivered up by the contractors
by the Ist January, 1855, and in the meantime they pay
the shareholders interest at the rate of 5 per cent. per
annum on the capital subscribed, and also upon any
money borrowed for the purposes of the contract. The
works of the company are to be very much enlarged, so
as to afford considerably greater facilities for the trans- ,
action of public business, and to give increased accommo-
dation of every kind,