The Sun.
London, England, 1853-08-23 00:00:00

nification for. the cost we have been put to. The
fleet reviewed last week would make short walk
of that ; and now that every resource of diplo-
macy has been tried in behalf of a confessed right,
it is hard to see what international law could pre-
vent us from forcibly grasping that member of
the Spanish empire by which all this violation of
treaties is
_perpetrated. We should be merely
seizing the violator of international rights
flagrante delicto, and holding his hands from
further injury till the lawful authorities
would themselves put down his villanies.
The slave trade has never been in so ma-
nageable a form as it now is. One treaty-
breaking nation furnishes the single market, an-
other treaty-breaking nation furnishes the kid-
napping depots. Both the nations are justly ame-
nable to us for their gross faithlessness. That faith-
lessness costs us •an immense annual sum, and we
have the full power to put the whole thing down
by declaring further persistence in such a course
a casus belli, or like NICHOLAS, only with so much
right and good faith on one side, to take bail for
Spain's appearance in a Court of Honour. Of
course General PIERCE would bluster, and some
nearer home would demand explanations ; they
could be honestly and satisfactorily given. None,
however, would be needed. Spain would not need
another word, if she knew that England would
be trifled with no longer. After the Russian
affair we really do require some evidence that our
fleets are not kept for mere idle pomp, and to
burn gunpowder at reviews.

MONEY MARKET

INDIA AND CHINA.

CITY INTELLIGENCE.

(BY SUBMARENETELEG_RAPB.)

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at from 5,000 to 6,000 bales, all to the
trade. The market was heavy. The sales com-
prised 100 Bahia, at bid. ; 400 Egyptian, at 7d. to
10d. ; 300 Surat, 3f d. to 4p, and the remainder
American. Railway Shares were steady at rather
better prices.
The accounts from the Australian colonies are
giving rise to a good deal of speculative reasoning
as to the future value of money, and the low rate
of interest produces many apparent anomalies. In
reality, however, all these things hinge upon a
common pivot, and singular as recent changes
may appear, stranger may yet occur. In
the first stage of the gold discoveries, coin
was so scarce that the precious metal was
bartered away far below its intrinsic worth ;
at a loss indeed to the hardworkel digger, which,
measured by the common standard, must appear
absolutely ridiculous. The supply of the raw ma-
terial being in unusual excess, and that of the
wrought article inconveniently scarce, of course
explains this phase of affairs, and here precisely
would have been the advantage of a Mint,
could it have been promptly established, by
effecting a vast saving of expense in trans-
mission to England, preventing loss of interest,
and risk of shipwreck, aid spoliation. The
enormous profits obtained had the usual effect of
drawing into the gold market keener competitors,
and at this moment the supply of sovereigns is
superabundant, and the seling value of the pre-
cious metals enhanced to a point that destroys all
profit. As a necessary squence coin will be sent
back, unless new local outsets keep pace with the
mines. The banks are over-
flowingllic wealth, and interest is so
produc production of of
m theeta
low that a 5 per cent. guarantee upon the con-
templated railway at Sydney commands 10 per
cent. premium. As new undertakings are formed,
this may again be changed, and when the mint is
in operation there will be a new disturbing ele-
ment. The very fact that there is to be a mint
indisposes the miner to part with his gold, and reckon-
ing loss of interest, he can afford to keep it until the
local coming establishment begins. Thus there will
be many further " ups and downs" before the Aus-
tralian money markets can be measured by the
ordinary European standard, and the dogmatic
reasoning of those who take their estimate from
what occurs here is as futile as it is irrational.
Due allowance must be made for new and even
improbable contingencies, or the whole fabric which
they rear falls to the ground.
There has been a flatter market for English Se-
curities, the result both of the renewed fall of rain
and of that little reaction which usually occurs
after an advance of any extent within a limited
period. The foreign news offers nothing particu-
larly novel, and as there is every probability of
occasional disquieting rumours untilthe Russians
troops have quitted the Principalities, the mar-
ket will not be so firmly. re-established in its
former position as otherwise might be the case.
If it be true, however, that the purchases
for delivery are really so large as has been stated,
the Bears will have a difficult task, having already
sold freely to keep prices down. The question is,
however, even under improved circumstances,
whether Consols are not sufficiently high ? For
Transfer they have been done at ?Si to 981, but
for Account they have not been higher than 98k.
This is a significant proof that the specula-
tors, as a body, are disposed. to keep down
the market, but that the public or capitalists have
more confidence, and are investing. The New 34
per Cents. have been 101 i
, and the 3 per Cents.
99 to f. Bank Stock keeps very firm, at an im-
provement to 2281 and 229. India Stock has been
done at 257. Exchequer Bills have risen to 2s.
and 3s. premium, an indication that money is more
plentiful on the Stock Exchange at any rate. This
is due partly to the purchases of stock.
In Foreign Stocks there is very little doing.
They have, however, for the most part, maintained
their value. Grenada Deferred are about 101 ;
Peruvian 4 per Cents. 85i to 86 ; Russian 5 per
Cents. 1171 to 1181 ; and Sardinian, 96k to 97.
Spanish Certificates are not so good, being 61
and until the plans of M. Salamanca are better un-
derstood, there is not much inducement to buy.
Whatever they may be, not having legislative sanc-
tion, they will be dangerous to participators.
Dutch 21 per Cents have been steady at 64k. Sar-
dinian have been done at par.
Arrangements have just been completed for re-
working the Old Trewether antimony and silver
lead mines, situate in Endellion, Cornwall. Up-
wards of 60,0001. profit was realised from the great
antimony lode during two years. The company
will have the engine at work on the lode to fork
the water in about three weeks, when about 35 tons
of antimony ore will be recovered, which 'was left
in the adits when the old works filled with water.
The lead lodes are rich in silver—more than 300 oz.
of silver to the ton of ore was formerly obtained
from the deep adit near Port Isaac. In 1825 the
trustees of the British Museum gave 1,0001. for
various specimens from these mines, which is an
ample proof of the value of the various lodes.
The Railway Share Market has been steady as
respects some of the lines, but business is not
active. Caledonian are cheaper, and North-
Western are not quite so good. York and North
Midland have improved, and South Wales are in
favour. South-Eastern are rather better. Great
Western are heavy. French Shares have been
less dealt in than for some time past. The Bears
having suffered considerably of late, are timid in
operating further, while those who have lately
bought have taken up their shares. With such
splendid traffic, high. as French shares rule, many
parties will run all risk of political convulsions in
view of the prospect of further improvement.
The Gold. Mine Shares have been firm, but al-
most nominal. The Australian Company is better.
The Joint Stock Bank Shares are at about previous
rates. Land Companies' Shares are steady.

TRIESTE, AUG. 22.
The steamer Bombay arrived at half-past two
p.m., in 111 hours from Alexandria.
The India mail has arrived at Alexandria with
dates from Calcutta, July 16 ; Bombay, July 20 ;
Hong Kong, July 7.
The King of Ava, being starved into submission,
has sued for peace, set the British prisoners at
liberty, and requested that the river blockade may
cease.

The Governor-General has assented, and pro-
claimed peace, although a formal treaty has not
been concluded.

Trade in India is dull ; the markets easy.
In China the Imperialist forces had attempted
to regain Ching-Kiang-Foo, but without success,
notwithstanding foreign aid.
The markets were dull.

The several verdicts which have just been taken
by consent at the Liverpool assizes in the series
of actions brought against the Lancashire and
Yorkshire Railway Company for damages,
amounting in the aggregate to no less than
7,3001., exclusive of costs, prove that there is not
the slightest necessity for extending the limits of
the law in order to induce Railway Directors to ex-
ercise due vigilance over the lives and property
committed to their charge. The heavy pecuniary
loss which must necessarily follow any serious
accident is surely a sufficient guarantee for the
greatest possible amount of caution, without ren-
dering the Directors criminally responsible for any
mischance ending in death, and thus, as we pointed
out on a former occasion, preventing gentlemen
of high position and character from bestowing
valuable services, to which such serious liabilities
might be attached. Some coroners' juries who,
like the celebrated tailors of Tooley-street, thought
the eyes of England were upon them, totally
misconceived their duties. In place of un-
derstanding the very subordinate function in
which they were engaged, they fancied themselves
legislators for the time being, and thought that
they might effect a revolution in the criminal code
by deciding, not according to the actual law, but
to what they thought the law ought to be. In
consequence of this extraordinary delusion two
gentlemen, Messrs. SCOTT and BEATTIE, were sub-
jected to the expense and inconvenience of a
criminal trial during the recent assizes for the
county of Surrey.
The admirable observations of the Lord Chief
Baron in that case, showed that there was not the
slightest foundation for that vexatious charge—
that the law was not to be lightly strained for the
sake of gratifying the vanity and self-importance
of a few obscure individuals having a morbid
craving after notoriety, or pleasing certain jour-
nalists who have long been distinguished for the
animosity towards the railway interest, displayed
on every possible occasion. Mr. Justice ERLE
has now added the weight of his authority to that
of Sir FREDERICK POLLOCK, declaring that,
although " a great desire had been mani-
fested to make railway directors felons, by
prosecuting them for manslaughter in cases
of railway accidents, it had always been his
opinion that civil actions and the costs imposed
would secure proper care." The learned Judge
was right. There can be no doubt that the pecu-
niary penalty, whilst it is far more beneficial to
the surviving families of the sufferers, will be far
more efficacious in preventing the recurrence of
such accidents as can be averted by the adoption
of even reasonable precautions—that it is best
calculated to afford the necessary protection to the
community.
For, in the first place, as we have already
stated, the criminal test would materially deterio-
rate the respectability and efficiency of Boards.
Men of rank and fortune would not subject them-
selves to the chance of being convicted as felons
for matters totally beyond their own control.
There could unquestionably be found persons
willing to undertake any responsibility for which
they were handsomely remunerated, but their ser-
vices would not be, by any means, so beneficial
either for the shareholders or the public as those
of the gentlemen who had been driven into pri-
vate life by the stringency of the new enactment.
And it would afford very little consolation to be-
reaved families who mourned the loss of a father
or provider, to think that a director had been
imprisoned for a few months on account of the
calamity. Far better, as we have stated, that
they should receive such pecuniary assistance as
might render some compensation for the injury
they had sustained, averting the privations of
poverty from being added to their other sufferings.
Before Lord CAMPBELL'S Act for the abolition
of deodands, and affording a claim for pecuniary
damages to the families of those who lost their
lives by any accidents arising from the negligence
of any parties whatsoever, there was an universal
outcry as to the inadequacy of the criminal re-
sponsibility—an outcry, in which the same
Journalists who have latterly been clamorous for
the criminal remedy participated. The only
remedies afforded, were first by deodand on the
instrument by which the death was caused, and
which, in the great majority of cases, became
inoperative, as whenever a large sum would
be forfeited the Ccroner's inquisition was gene-
rally quashed ; and secondly, by the prosecution of
the parties—which, save in cases of crass negligence,
seldom led to any heavy punishment. The civil
action totally failed in the event of the death of
the party injured. Lord CAMPBELL'S Act, which
removed that grievance, was hai'ed with general
satisfaction, as it was considered to provide the
remedy exactly suited to the exigency of the case ;
but before it was long in operation, the grumblers
were once more at work seeking for criminal en-
actments. We trust, however, that the ridiculous
demands will now cease. If the question be seri-
ously mooted, it will be found that the railway
Shareholders who are converted into insurers to
an unlimited extent, are the persons who have the
greatest right to complain ; as Mr. LAING some-
time since pointed out, it is an unquestionable
hardship to be compelled to insure the pecuniary
value of the life of a Lord Chancellor, an Arch-
bishop, or a successful Physician or Barrister,
without receiving a farthing remuneration for the
extra risk. Some provision may have to be made
to meet this difficulty, but it is the only direction
in which a movement is required.

BRITISH FUNDS THIS DAY.
(From the Official List.)

Business done.
Bank Stock
3 per Cent. Reduced Annuities 994 9
3 per Cent. Consols Annuities
.f
New 34 per Cent. Annuities lag
Long Annuities, Expire sth Jan., 1860
India Stock
Consols for Account Bth September 9Bi
Exchequer Bills, ld.
£l000
£5OO 2 3 p
Small 2 3 p

PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent
Ditto New, 1852, 41 per Cent lOO 99 s d
Equador Bonds
Grenada Bonds, Deferred
Peruvian Bonds, 41 per Cent.
Ditto for the Account Bsa
Russian Bonds, 5 per Cont.
Cent.
Ditto 0 per
102 r
Sardinian Bonds, 5 per Cent.
Spanish New Deferred, 3 per Cent. 23i i
Spanish Committee Cert. of Coup. not fun. q is' p c

Dividends on the above payable In London. - .
Dutch Exchange, 21 per Cent.
TffREE O'CLOCK.
-

Consols 9S g
Ditto September Account 9Bl g

ARRIVALS OF GOLD.—The James Alexander arrived
yesterday from Port Philip with 20,353 ounces of gold,
valued at 81,500/. The Cambodia was also reported,
but she has only 50 ounces ; and there were several
other arrivals from Australia, Van Diemen's Land, and
New Zealand—all, however, with old dates.
SPECIE.—The mercantile accounts from Paris describe

increasing ease in the money-market. The influx of
gold continues, and the Mint have notified a further ex-
tension of thr.ee days in their period for coinage, the
time now required being 65 days.—The amount of
specie brought from the United States yesterday—viz.,
100,000/.—is larger than was anticipated under the pre-
sent adverse condition of the New York stock-market.
The supply of gold in London is now considerable, and
it is expected that the greater portion, instead of being
sent to the Continent, as heretofore, will find its way
to the Bank of England.
OnEssA.—The advices from Odessa reach to the 12th
of August. At that date telegraphic information had
been received of the state of the London corn-market to
the sth. A very active business had in consequence
been transacted, but the demand had subsequently
slackened, partly in consequence of renewed uneasiness
on political matters, caused by the reports of an in-
tended occupation of Servia by the Austrians. The
general purchase of grain included large quantities of
Indian corn and rye, and these, as well as the wheat
lately taken, were intended for the Mediterranean, it
being now considered certain that the crops in Italy and
the South of France are decidedly and seriously deficient.
The scarcity of shipping was felt to a greater extent
than ever, and freights had risen to 115 s. per ton for
tallow, or 15s. Bd. per quarter for wheat.
FATAL ACCIDENT ON THE RIVER.—On Sunday morn-
ing the barman, potboy, and an apprentice to Mr. Wes-
ton, a carpenter, who keeps the Bell Tavern, Addle-hill,
Doctors' Commons, proceeded in a boat to bathe near
Westminster-bridge. It appears that the apprentice and
barman were contending with each other in a swimming
match, when, after going some distance, probably from
weakness, or from being seized with cramp, one was
seen to cling round the other's neck, and both disap-
peared. Their bodies were not found last evening. The
potboy arrived at their residence with deceased's clothes,
to tell of the catastrophe about noon yesterday.
"JUSTICE TO SCOTLAND."—We are glad to hear that
arrangements are in progress for holding a great public
meeting, to be presided over by the Earl of Eglinton, in
the course of November next, under the auspices of the
Scottish National Association.—Eclinburgio Post.

THE QUEEN'S VISIT TO IRELAND.—In all quarters of
Dublin the most active preparations are being made to
give the Queen a right hearty welcome to the Irish me-
tropolis. The arrangements for her Majesty's reception
at the Exhibition building are nearly completed. It is
stated that there will be a grand review of the troops in
the Phoenix-park on the occasion of her Majesty's visit.
PAINTING BUCKINGHAM PALACE.—On account of the
rapidly decaying nature of the stonework in the new
front of Buckingham Palace, which has just been exten-
sively repaired, further examination has determined the
authorities that the only efficient protection for it in
future will be a coating of paint on the outside. A new
scaffolding has, therefore, been erected, and the work
was commenced on Saturday last.
THE DUCHESS OF KENT IN EDINBURGH.—Her Royal
Highness the Duchess of Kent, attended by Sir George
and Lady Couper, and the Hon. Lady Augusta Bruce,
arrivedur at Edinburgh shortly before four o'clock on Sa
to resuan
tni4atY
at Newcastle,
The distinguished party passed the
of the
Newcastle, and it is stated to be their intention
le the journey to Abergeldie, the Highland re-
sidence Mr. Roebuck's h
ccept theealti
Duchess of Kent, on Tuesday morning.
MR. ROEBUCK M
hn
villas
, .P.—We are glad to learn that
toiugirieattolytihmeprcouvteldemas, tfoeeans
feast.—
MASTERS him to a
Sheffield Independent.
MASTERS EXTRAORDI
of Parliament has just been IN CHANCERY.—An act
chap. 78), abolishing mteluntrinted (16 and 17 Victoria,
Chan-
cery, and giving them a nevertsitr xtraordivary in
Administer Oaths in Chancery i: ofE " Commissioners to
land."
THE NEW Aar ON TRANSPORTATnIg
on Transportation will take effect "."---
The new Act
on the Ist of Septem-
ber next.

THE SUN, LONDON, TUESDAY EVENING, AUGUST 23, 185 3.