The Sun.
London, England, 1854-03-27 00:00:00

able and unreasonable, has been made by the
Ministers of the allies of Turkey for the preven-
tion of bloodshed, and for the conservation of the
It will arise—this terrible
peace of Christendom.
and disastrous war—when both of the great
Powers of Western Europe are more than ever
well prepared—when their armies and their
navies have arrived at their most perfect state of
organisation—when they have already insured
the presence of powerful maritime' armaments both
in the Entine and the Baltic----the presence of these
vast armaments, remember, in time for the com-
mencement of hostilities. It is under such a propi-
tious conjuncture of circumstances that France and
England will have to enter boldly on the struggle
with the might, and the pride, and the ambition
of the Russian Autocracy. Entering upon this
dread conflict, moreover, with the sinews of war
already to the full guaranteed each by its respec-
tive population. Sending their united forces
against those of their great Northern antagonist,
not for the gratification of selfish passions, or
with a view to rapine, or for any lawless purposes
of aggrandisement, but in the cause of Right, cf
Truth, and of Justice, in the name of all that is
noblest, and loftiest, and holiest in Christendom.
If England enters upon war with Russia only
after having allied herself cordially to the same end
with imperial France—it is not so, however, in the
relation subsisting at this dread crisis between the
Councils of St. James's and the Tuileries, and the
Austrian and. Prussian Governments. England
and France, at this; moment on the eve of war,
know not actually in what light either Austria
or Prussia should be regarded by the bel-
ligerents. A neutrality the thing is no-
torious—has been long talked of at Vienna
and Berlin : an armed neutrality, affording
the two Cabinets a chance of escape from the
dreaded collision, and of enabling them, possibly
later ou, to ally themselves safely with whichever
side gives promise of proving itself victorious.
A neutrality ! Better an open defiance than
any such despicable evasion!! Better un-
grateful foes, than false, because merely
nominal and pretended, friends such as
those ! Absolutely, nothing could be more rash
than the course thus adopted by the German
Governments. Each, no doubt, imagines its policy
to be eminently sagacious, all things considered.
Whereas we venture to assert that an agreement
with either of the belligerents, an agreement with
either Russia or with France and England, would
have revealed less temerity than this suici-
dal scheme of a neutral line of conduct—a
line drawn, only for the time being, midway
through all this throng and complication, maze
and labyrinth of European difficulties. Does
the Prussian KING, does the Austrian EMPEROR,
for an instant reflect that he places his crown, by
this ingenious device, in imminent jeopardy ?
Have they alike forgottea the precarious balance
upon which each has built up (like' an inVerted
pyramid) the enormous, and elaborate, and ano-
malous fabric of an unpopular Government ? Have
they, after the agonising suspense of 1849, elimi-
nated all the warning truths inscribed upon the
stony tablets of history by the bayonet dipped in
blood—that iron pen of the revolutionary annalists
of the Confederation ? Is the Cabinet of Berlin
unconscious of this—that England and France, at
their pleasure, might any day give a signal for the
rising of the whole Prussian population? Can the
Viennese Government be blind to the fact that
when ever we so please, we may sound the tocsin of the
disruption of the whole of the heterogeneous A.ustri an
I dominions ? That we have but to raise the national
standard, under the shelter of the blended colours
of the union-jack and the tri-color at Cracow,
and Pesth, and Milan—and Poland, and Hungary,
and Lombardy, would have once more, and this
time effectually, achieved their independence ? A
word to liossuT4, a hint to MAzzun, a whisper
of encouragement to the Polish Confederation—
and the empire of the House of RVDOLPII would
have crumbled into dust, and Poles, and Mag-
yars, and Lombards would have gloriously won
their emancipation. Holding thus completely
in their grasp the fate of Central Europe, Eng-
land and France can laugh to scorn this babble
about an Austrian and Prussian neutrality—now
when, atthis supreme moment, in the Black Sea and
in the Baltic their terrible fleets are about to con-
test with those of the Russian AUTOCRAT, for the
life or death of civilisation, for the tranquillisation
or for the devastation of Christendom.

united in good faith and cordial alliance, had'
nothing to fear from " the world in arms." Even
though the Great German Powers had exchanged
doubtful friendship or suspicious neutrality for
open and undisguised hostility, they felt that
matters having •proceeded so far it was desirable
that the Northern Despot should be " bound over
to keep the peace," and that he should give ample
sureties for his " future" good behaviour. It was
perfectly clear to every person of ordinary intel-
ligence and ordinary information that we have been
for a considerable time past " slumbering on a
volcano," the eruption being a question merely
of time. The worst that could occur would be a
continuance of the vacillating policy that en-
couraged aggression and 'led the would-be
spoliator to believe that we should purchase
peace at any price—and be -willing evqn to
connive at robbery, if we ourselves obtained a fair
proportion of the plunder. France and England
have resisted the temptation. They have stood
firm, side by side, and shoulder to shoulder, and
it would be treason to chivalry, nay, more, im-
piety, to doubt that " Gop will defend the right."
All that is now required is that the people
should stand firm and refuse to sacrifice their
property. If they hold on steadily, the parties
who have over-sold themselves will have cause to
rue their reckless dealing. A large amount of
Stock must be obtained to liquidate the loans that
have been made. Never was there a time when
it was more essential that fundholders should
stand firm. Patriotism demands as vigorous and
decided a resistance to the unconscientious and
unjustifiable proceedings of the ursce minores of
Capel Court, as to the nefarious conduct of their
Leviathan brother the ursa major of Muscovy.

The proposed abolition of compulsory removal
of paupers perplexes some intelligent members
by the apparently opposed claims of justice to the
ratepayer and benevolence to the poor. Very
few, indeed, can successfully sustain the demands
of the close parishes. They have but too long
enjoyed a most unrighteous exemption ; too long
visited upon others the support of the sickness
and old age of those by whose labour they are
enriched. The spirit of the Poor-law is, that the
destitute shall be relieved by those on whom they
have the most natural claim.

Another class of ratepayers are, however, fully
entitled to a candid hearing. The open parishes,
and the large towns forming a union iu themselves,
to which the adjacent close parishes, and perhaps
the adjacent unions too, have contrived to shuffle
off many of their poor, is it fair that they should
be saddled with all the paupers for whom they
have been hitherto compelled to find habitations,
and all that they will continue to have thrust
upon them ? Now, we beg the attention of all
our readers, interested in this important matter,
to two or three remarks. For one thing, it is
almost impossible that selfishness should do more
in this respect than it has done. All who could
be driven away from close parishes, compatibly
with carrying on their work at all, have
been got rid of. They are already fathered
upon the unfortunate unions and parishes which
could not repel them. There really seems
little likelihood that this evil can be much
augmented. Possibly a few worthless characters
may be got to migrate to towns who now will not
do so, because afraid to leave their parish ; the
preference for home is, however, so strong that
the danger is not great from that source.
But, on the other hand, the open parishes
should look at the certain relief which a great
part of them will be sure to gain in the course of
a little time. The effect of the union rating will
inevitably be to locate the labourers hitherto
thrown upon them. nearer to their work. The
very complaints of the proprietors of close
parishes against union rating prove this.
They know that their righteous share of the
union burden will fall upon them, and as
they will have to bear the burden, whether
they denude their farms and estates of labourers
or not, it is clear they will have no motive for
doing it. They will, on the contrary, prefer to
have their workmen more within call, and ready
to commence their toil without the fatigue of a pre-
vious walk, frequently of several miles. As be-
tween parishes of the same union there will be
rio motive whatever to interfere with the resi-
dence of workmen ; and as between unions, the,
difference made by driving a few persons, likely
to become paupers, into another 'union, will not
be sufficient to render the practice common.
Adding these considerations to the unquestionable
advantage to the poor man, of not being compelled
against his will to leave the place which
has long become his second home, we
must think that the injury will be small,
if any, to the ratepayers in towns and open
parishes, while the poor will be greatly benefited.
At first it may seem hard to be compelled to re-
lieve those who have been -unfairly thrown upon
us ; but the permanent tendency of the measure,
and it is to permanent results a legislator must
look, will be to locate the poor where they can
best earn their living. The , needy will have no
inducement to quarter themselves on any union
but that which by birth, relationship, or employ-
ment, is most natural to them.

There is a panic on the Stock Exchange. It is
useless to attempt to disguise or mystify the fact
that the steady and determined action of the
Bears has for the moment been successful, and
that although the large amount of speculative
Il dealing was but too notorious, and the amount of
" backwardation" paid on every account proved
that the " ursine" fraternity were utterly incap-
able of supplying the stock which they contracted to
deliver, if the proprietors were only true to them-
selves, and refused to play into the hands of their
virulent assailants. For teu days past the fall
has been uninterrupted. An occasional brief
rally was almost immediately defeated, and the
depression rendered even more decided in conse-
quence of the abortive attempt. The reduction
within a single week has been no less than 3 per cent.
for Consols, while for the railway and other shares
it has been much greater. If we look to the quo-
tations on Friday the 17th and Friday the 24th (we
prefer that day to Saturday, as many dealers
make a partial, if not a complete holiday at the
conclusion of the week, getting back early to their
rural habitations), we find that on the former day
the price of Consols were 901 to 91, while on the
following Friday they were 87i to 88. London
and North-Western Stock on the 17th were par
to premium, or 100 to while on the 24th
they were 4to discount, or 95-i to 96. These
are but samples of the general depreciation, which
may be stated to have been during the week from
3 to 5 per cent. on the value of every description
of property, or security.
But all that power would have been compara-
tively harmless if capitalists had not yielded to
their unreasoning apprehensions, and listened to
the croakings of interested alarmists—men who
were prepared to inflict any amount of injury
upon the community for a trifling profit for them-
selves. Granted that we are virtually at war,
that our troops are far advanced on their way to
take part in the sanguinary game, and that the
combined Fleets of England and France ride
proudly on the Euxine and the Baltic billows
—granted that they will no longer maintain a
useless inactivity, but that they will speedily
display a degree of energy and determination
commensurate with the popular desire—granted,
that a formal message from the British SOVE-
REIGN to both Houses of Parliament, terminating
the hollow peace and formally announcing the
commencement of decided hostilities—any of
these matters, taken singly, might justify the de-
preciation ; but, surely, they have been all long
since fully discounted. There was not a single
person throughout the entire country, possessing
the means of speculating in stocks or shares, that
was not just as well informed on all these matters
on the 17th as on the 24th of March. Nay,
more, there were few, if any of the number, who
do net feel that it was desirable to terminate the
injurious suspense that had so long: prevailed at
any cost.

It may be well worth considering whether it
would not be possible to give legal effect to the
just principle, that where a man chiefly labours he
should have a claim to relief. It is the outraging
of this simple and equitable rule which has brought
such odium on the close parishes. There may be
some practical difficulties ; but they might,
we imagine, be easily overcome. A man's place
of daily labour must be within walking distance
of his home, and if it could be made law that the
union, ten years hence, and till then the parish
where the man works, must relieve him when a
pauper, nearly all the unwished-for workings of
the bill before Parliament would be effectually
obviated. It should be remembered, too, that
free trade in labour must, as in everything else,
be reached at last. It is as certain that labour
will distribute itself, in the long run, as accurately
as prices, according to the law of supply and de-
mand ; that is, if it be unfettered. The whole
community will be a great gainer, and the cases
of real injury to ratepayers—for compelling close
parishes to do their duty we hold to be no injury
—will, we believe, be very few. The good is
certain—the evils, we hope and believe, are chiefly
imaginary.

MONE Y MA RKE

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool on Saturday
were estimated at 4,000 bales, including 1,000
American taken for export. The market closed
with a downward tendency. The sales comprised
3,000 American, 200 Pernam and Maranham, at
6d., 80 Bahia at 6kd. to 6td., 200 Egyptian at
bid. to 101 d., and 700 Surat at 24d. to 4.id. per lb.
The share market opened dull but closed with a
better feeling.
The railway meetings announced are the fol-
lowing :

Company. Date. Place, &c.
East Anglian Mar. 31, London Tavern.
Londonderry & Enniskillen Mar. 28, Coleman-st-build.
Rouen and Havre Mar. 30, Paris.
Sambre and Meuse April 7, Belgium.
Shrewsbury and Birmingham Mar. 28, Shrewsbury.
Shrewsbury and Chester__ Mar. 29, Chester.
St. Andrew's and Quebec
(Class A.) Mar. 30, Parliament-street.
Toun., Jurb., Land. & Haslt Mar. 27, Brussels.
Western of France Mar. 30, Paris.

As the packet which brings over the United States
and Canada mails is a screw steamer, and easterly
winds have prevailed for several days, it is not ex-
pected she will arrive until about the middle of the
present week. There is such regularity in the
transatlantic communication, that the delay of a
day or two excites remark ; but Government have
taken up one or two of the finest steamers belong-
ing to the Cunard Company for the conveyance of
troops.
The overland mail is telegraphed from Trieste.
The dates will be about a month later from Aus-
tralia, namely, to the 25th January ; and as far as
the outline enables us to form an opinion, there
was an , improvement in trade. This, however,
refers to Sydney, where the markets have through-
out been better than at Melbourne.

CABINET COUNCIL.—A Cabinet Council was held at
the Foreign-office, Downing-street, on Saturday after-
noon. The ministers present were the Earl of Aberdeen,
Lord John Russell, the Marquis of Lansdowne, the
Lord Chancellor, Earl Granville, the Duke of Argyll,
Viscount Palmerston, the Earl of Clarendon, the Duke
of Newcastle, the Chancellor of the Exchequer, Sir
James Graham, Sir Charles Wood, the Right Sidney
Herbert, and Sir William Molesworth. The Council
sat three hours.

From Calcutta it is stated that a fair business
was doing, and that the rate of exchange was de-
clining. The Frendh General Orgom had been re-
called from Burmah, where he had been directing
the military operations of the forces hostile to
England. He returns to France.
The ship Hanover brings letters of Dec. 21 from
Port Philip. The Maitland has arrived from Syd-
ney, but her dates are only of October 25. We
have already had intelligence as late as the above
via Panama.

HEALTH OF VrscouNT PALMERSTON.—We are happy
to say, on inquiry at the mansion of Viscount Palmer-
ston on Saturday, that his lordship is much improved
in health, and is fast progressing to a state of con-
valescence.

The splendid Liverpool clipper Marco Polo, was
wrecked entering Port Philip Bay, but fortunately
no lives were lost. She had a valuable cargo on
board, and it was doubtful whether she would be
saved.

TheTrivate letters from the Continent furnish
many items of interest. The Prussian Govern-
ment had been unable to refuse the application for
pilots to the English fleet, war not having yet been
declared against Russia either by England or
France, Once on board, we shall know how to
retain their services. Sweden has marked down a
very liberal policy with regard to neutrality. The
ships of war of either party will be allowed to fre-
quent her ports and to provision there, but no ma-
terials of . war will be supplied, nor can prizes be
taken in, except owing to stress of weather.
In accounts from Weser it is remarked that no
English or French subjects are now permitted to
cross the Russian frontiers, and English families
are quitting Russia. The commerce of Riga,
Odessa, and other ports was wholly impedied by
the prohibition to export gold.
The corn trade is very dull to-day, and prices
are lower, owing to the large supplies.
Before business had gone far enough to occasion
a fall, Consols were this morning quoted / per
cent. lower, being 871 to as the news of Satur-
day is confirmed, and the announcement of the
Emperor's refusal will be made to Parliament this
evening, to be followed by the declaration of war.
At this moment the prices are up again to 87i 1.
It would appear, however, that neither capitalists
nor speculators have any intention just yet to sup-
port the market. Exchequer Bills have been 2s.
discount to 2s. premium, and East India Bonds
as low as 7s. discount.

Foreign Securities have been very heavy again,
and them is a further decline in Russian. The 5
per Cents. have been 83, but the 4 per Cents.,
which opened at 711, have since improved to 73k.
Portuguese 4 per Cents. have been at 33 to 34,
Spanish 3 per Cents. at 31i to 35, and the Deferred
at 16i to 17. Mexican have been quiet at 22i- and
Peruvian flat at 54 to 55 for the 4i per Cents.
Dutch 2 per Cents. have been marked 52.
In the English Railway Share Market, the de-
cline is about to 1 per Cent., but with limited
transactions. The London and North Western,
South`Western and some other of the old under-
takings are lower than for somo years. French
Shares have been depressed also, and in Luxem-
burgh there is a decline of 10s. to 155.,
All the miscellaneous shares are receding. The
Mines are dull, the Banks have been offered to some
extent, and the Australian Agricultural Land
Company is about 1/. cheaper. _

BRITISH FUNDS THIS DAY.-CLOSING PRICES.

(Prom the Official List.)

BusinesP doi
3 per Cent. Consols Annuities B7l 7
New 5 per Cent. Annuities
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire sth Jan., 1860

Yesterday was the anniversary of the natal day of his
Royal Highness the Duke of Cambridge, who completed
his 35th year.
-- - -

India Stock 225
India Bonds, £lOOO ....... ..... . ..... .
Consols for Account 18th April B7 .11 6i
Exchequer Bills, 2d.
£lOOO
£5OO 2 d 2 p
Small 2 d 2 p
PRICE OF FOREIGN FUNDS THIS DAY.
Xustrian Bonds, 5 per Cent.
Danish Bonds, 1825, 3 per Cent
Ditto 5 per Cent
Wexican 3 per Cent.
Peruvian Bonds, 4i per Cent. 54 5
Ditto for the Account ssh
Ditto 3 per Cent
Portuguese Bonds, 4 per Cent 34 3
Russian Bonds, 1822, 5 per Cent. £ St B3 a d
Ditt9 4} per Cent 7li 3t
Sardinian Bonds, 5 per Cent 74
Spanish Bonds, 3 per Cent 34i 5
Spanish New Deferred, 3 per Cent. l6i 17

On all former stages, during the progress of
events, the public supported the national credit.
There was no alarm—no abject terror exhibited.
The speculators for a fall were defeated, because
there were parties ready to rally round the public
securities and to invest their, money at reasonable
prices. They felt that England and France,

Dividends on the above payable in London.
Dutch Exchango, 2i per Cent. 12 Gail 52
Ditto 4 per Cent. Certificates ......
THREE O'CLOCK.
Consols
Ditto April Account B6i 7

The Earl of Cotteuham, we hear, is on the eve of
leaving England on an extended continental tour. His
lordship intends residing abroad for four or five years.
The Earl of Durham, who is about to lead to the altar
the Lady Beatrice Hamilton, second daughter of the
Marquis of Abercorn, and niece by half-blood to the
Duke of Bedford and Lord John Russell, in his 26th
year. Her ladyship is in her 19th year. The ceremony
will take place shortly after Easter.
THE SPEAKER'S DINNER. —The Right Hon. the
Speaker gave his seventh Parliamentary dinner on Sa-
turday. The following were present :—The Earl of
Euston, Viscount Emlyn, Hon. Colonel Lindsay, Right
Hon. Sir George Grey, Sir Graham Montgomery, Sir
Archibald Campbell, Sir Robert Price, Sir Henry Meux,
Mr. Hastings Russell, Mr. Stanhope, Mr. Seymour
Fitzgerald, Colonel Herbert, Colonel Hall, Mr. Smyth,
Mr. Granville Vernon, Mr. Ormsby Gore, Captain
Jones, Mr. Hankey, Mr. Du Pr 6, Mr. Thornhill, Mr.
Heneage, Mr. Floyer, Mr. George Sandars, Mr, George
Dundas, Mr. Deedes, Mr. Ingham, and the Secretary
and the Rev. Mr. ander (chaplain.) Mr. Fello vies
was prevented attending through the death of an uncle,
and Mr. John Ball through indisposition.
COMMUTATION OF SENTENCE.—The sentence of death
passed upon Abel Burrows, at the last Bedford assizes,
for the murder of Charity Glenister, has been commuted
to penal servitude for life. The prisoner had been in a
statet of frenzied excitement for some time prior to the
commission of the offence, and had made violent attacks
upon his father and wife ; and the result of an investi-
gation made since the trial into the state of his mind
leaves no room to doubt that when 'lie committed the
murder he was an irresponsible agent—Observer.

THE SUN, LONDON, MONDAY EVENING, MARCH 27, 1854.

THE OVERLAND MAIL

(By Submarine and European Telegraph.)

The steamer Bombay arrived in Trieste on the
25th, at half-past eight a.m., in 112 hours from
Alexandria, which place she left on the 20th. The
Ripon was to leave that day, with advices from
Calcutta, Feb. 19 ; Madras, Feb. 24 ; Shanghai,
Feb. 4 ; Hong Kong, Feb. 11 ; Singapore, Feb.
18 ; Penan r.r, Feb. 21; Galle and Bombay, Feb.
28 ; Burmah, Feb. 2 ; Sydney, Jan. 25 ; Mel-
bourne, Jan. 30 ; Adelaide, Feb. 2.
_ _

Bassein, in Burmah, is in a disturbed state.
Captain d'Orgoney, the French officer in the service
of the King of Ava, is on his way to France.
Trade at Calcutta fair. Indigo has fallen. Fix-
change 2s. ld., declining.
Shanghai is still in possession of the rebels, and
the rebel army is wintering at Fech Liu, 100 miles
from Peking. Exchange at Shanghai, ss. Old.,
and falling ; at Canton, 4s. 11d.
The returns from the gold fields in New' South
Wales are increasing, and a rich mine has been
found at Tambarowa.

Trade in Australia is improving, with a brisk de-
mand for goods at Sydney. •
Price of Gold—at Sydney, 3/. 17s. ; at Mel-
bourne, 3/. 16s. per oz.