The Sun.
London, England, 1854-02-16 00:00:00

Four Powers for their approval in solemn Confer-
ence. {Tinally—let the last paragraph in that
notable document be particularly borne just now
in the popular remembrance : the paragraph fol-
lowing that remarkable assurance—" Let yaur
IVIAnsT7 adopt this plan upon which the QUEEN
of England and myself are perfectly agreed,
and tranquillity will be established and
the world satisfied"—adding—oo But if from
a motive difficult to understand, your MAJESTY
should refuse this proposal, then France as well
as England will be compelled to leave to the
fate of arms and the chances of war that which
might now be decided by reason and justice."
What is that paragraph ? It is conceived in the
dignified words subjoined—" Let not your MA-
JESTY think that the least animosity can enter my
heart ; it • experiences no other sentiments than
those expressed by your MAJESTY yourself in your
letter of the 17th of January, 1853, in which you
addressed me thus-----‘ Our relations ought to be
sincerely amicable, based, as they are, upon the
same intentions—those intentions, the mainte-
nance of order, the love of peace, respect for
treaties, and reciprocal good feeling., This
programme," adds the Emperor NAPOLEON, "is
worthy of the Sovereign who traced it, and I do
not hesitate to affirm that I remain faithful to it
—et je taesite pas l'affirmer, j'y suis reste fidele."
An assertion the truth of which is indisputable,
and in the dignified utterance of which NAPOLEON
111. may at heart exult—constituting, as it does,
the verification of his.own memorable programme
in that one epigrammatic sentence delivered on a
notable occasion • at Bordeaux--" l'Empire c'est
ta Paix"—a declaration once so derided and re-
viled, but of which at this moment all Europe
recognises the fulfilment. For, if war should now
actually ensue, it will be a war precipitated
by Russia, and nut by France or by England, a
war brought about in spite of the cordially allied
councils of VICTORIA. and NAPOLEON, the result
of one man's evil ambition, the fruit of the
hereditary policy of the House of Romanoll since
the days of PETER THE GREAT, the consequence
of that passion for yet more extended dominions
which, ever since his accession to the throne of
all the Russian, has concentrated the hopes of the
Emperor NICHOLAS upon his one grand and absorb-
ing project, that of the gradual dismemberment
of Turkey, leading to the ultimate seizure of
Constantinople.

unfair advantage from the defendant. All these
nefarious transactions would be for ever abolished
under a judicious and well-devised system of
public prosecutions.
Mr. PHrmamor.fs measure possesses another
incalculable advantage. It does justice in every
particular to the accused. It enables prisoners to
obtain witnesses at the public expense, where
they ar© themselves unable to pay for their at-
tendance. It was dreadful to hear prisoners when
called on for their defence declaring that there
were persons who could establish their innocence
had they the means of procuring their presence.
Although this excuse was frequently untenable, it
tnight be true, and an unpleasant feeling was ex-
cited in the mind of every listener. To prevent
the possibility of a job, or of uselessly and unne-
cessarily calling persons whose evidence was of no
real importance, Mr. PAILLIMORE suggests that
the allowance or disallowance of these expenses
should remain optional with the presiding Judge—
a precaution that will render any abuse absolutely
impossible.

The Attorney-General accepted the measure in
an excellent spirit ; announcing that the Govern-
ment felt that the principle of appointing a public
prosecutor ought to be adopted. This acknow-
ledgment insures the success of the bill, or some
similar measure. Of course it will now remain
with the law officers of the Crown to carry out
the principle. We cannot conclude without con-
gratulating Mr. PHILLIMORE on his success, by
which he has entitled himself to the thanks and
gratitude of the community ; removing the re-
proach that "England is the only country in the
civilised world without a public prosecutor," and
carrying out an important change in the law—a
change which we ourselves, in common with all
earnest legal reformers, haye urgently demanded
for many bygone-years.

For two things, at least, we, as Reformers,
thank Lord JOHN RUSSELL—first, and perhaps
first in importance, because he proclaimed before
all Europe, to the semi-barbarian monarch of its
Eastern serfs, that a war with him was by no
means so alarming a thing as to hinder our atten-
tion to any domestic business whatever. We
have never been less pleased with Mr. DISRAELI,
and his noble chief in the other house, than when
they wished the British Government to pause, as
if in fear of Russia, in the work they were so
deeply pledged to. Nor have we of late ever been
better pleased with Lord JOHN than when, like
au old Roman, or why should we not say like a
true-hearted member of the English aristocracy,
he said before all Europe—We can attend to Russia
as fully as she richly deserves, but feel quite at
ease in proceeding with our gravest domestic
business also. The opening of his Lordship's
Reform speech is really the most dignified mani-
festo which can follow Baron BRUNOW to Darm-
stadt ; and we hare no doubt he will very
promptly transmit it to his half-demented master.
We repeat emphatically, that on this occasion we
were proud of our member for London, and the
Leader of our El ouse of Commons. And next,
we thank Lord JOHN for all and every extension
of the franchise, and, for what is indeed the very
condition of its Possibility, for all the disfranchise-
ment on which lie has ventured.

MONEY MARKET

AND
COMMEIWIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at from 7,000 to 8,000 bales, of
which 2,000 American were taken on speculation.
The market closed firmly. Surat per lb., and
American 1-16th per lb. higher. Brazil and Egyp-
tian unchanged. The sales comprised 100 Pernam
and Maranham, at 61d. to 7d. ; 150 Egyptian, at
6d. to 9id. ; 500 Surat, at 3d. to 41d. ; 50 Sea
Island at 2s. 5d., and the remainder all American.
Railway Shares were dull.

The St. John, New Brunswick, and Liverpool
line of packet ships, consisting of eight vessels,
have landed thirteen cargoes of goods at St. John
since February last. The proprietors of the line
have now made arrangements for the construction
of two first-class iron screw steam-ships, of 1,600
tons each, one to be launched in April, and the
other in May next, and to be placed on the
Liverpool line. These steamers are to be barque
rigged, worked by engines of from 350 to 400
horse power, and will cost 250,000 dollars. They
will each cross the Atlantic once a month, touch-
ing at St. John's, Newfoundland, on every trip.
It is supposed that the Legislature of New Bruns-
wick will make the proprietors a grant of 50,000
dollars per annum for ten years, to aid in the esta-
blishment of this line of steamers, and compensate
them for carrying the mails.
The following is the report of the directors of the
Northern and Eastern Railway Company, pre-
sented to the half-yearly meeting of this day :
" The directors have to report t• the proprietors, that
the dividend on the respective shares of this company for
the half-year ending the 31st of December last, will be-
come payable on and after Saturday, the 25th inst., and
will be as follows, viz. :—On shares guaranteed 5 per
cent. per annum, 1?. ss. Od. each ; on shares guaranteed
6 per cent, per annum, 1/. 10s. Od. each, less property
tax."

The report Was passed unanimously.
The demand for American Securities has been
steady this week, as we are informed by Messrs.
Bell, Son, and Co. United States Sixes are quoted
109 to 110 ; Pennsylvania Fives, 841 to 851;
Maryland Sterling Bonds, 94 to 96 ; Michigan
Central 8 per Cents., 101 to 103, and New York
and Erie Third Mortgage, 88 to 89.
The Stock Market has undergone but little varia-
tion, and business is comparatively quiet, as far as
speculation is concerned. Consols have been 91i
for transfer, but not higher than 911 g for March
16, establishing a " baccadation" of / per cent.
The scarcity of stock is therefore still the feature.
The New Three-and-a-Quarter per Cents. have
been 92; to 93k, and the Three per Cents. 91; to
92k. Bank Stock has been 216, and since 2171.
East India Stock is at 232 to 235. Exchequer
Bills have been at 18s. to 215., and India Bonds
at 7s. premium. The payment of the " diffe-
rences' is proceeding satisfactorily.
Foreign securities have been very dull. Mexican
Bonds are quoted 24 for the account, after having
been done at 25 and 25 for money ; Spanish New
Deferred Stock is at 19! ; Venezuela Bonds are
28i ; Dutch 21 per Cents. are at 61 to Y.
The English Railways are steady for the most
part, with moderate transactions. Great Northern
have been 10s. to 1/. better. York and North
Midland are scarcely so good. Midland and Lan-
cashire and Yorkshire are dull. French shares are
merely nominal. Luxemburgh have not altered.
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 , 25,316 21,821
South-Eastern 12,120 10,827
Caledonian, and Edin. and Glasgow 13,585 12,558
Great Northern

Lancashire and Yorkshire 17,746 17,038
BRITISH MINES.—No material alteration is
apparent this day. Shares still firm, and closed
at yesterday's quotations.
The Gold Mine Shares have been in moderate
request, at previous rates. The B.tnks are rather
lower, and the Land Companies about the same.
The current prices for the Jamaica Mines not
officially quoted are as follows :—Jamaica, par to
premium ; Metcalfe, to premium; Sue River,
discount to par ; Port Royal, to premium.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( Prom the Official List.) . .

flu Cowls done.

THE SUN, LONDON, THURSDAY EVENING, FEBRUARY 16, 1854.

YACHTSMEN FOR THE NAVY.

As many able-bodied seamen as can be procured
are wanted for the service of the navy at the pre-
sent crisis, and we are endeavouring, as well as we
can, to mako up the deficiency by parading our
pensioners for coast-guard duty, and by inviting
the assistance of as many landsmen as are willing
to join, and try the event of a brush with the Rus-
sians. We think, however, we can point out a
source which seems to have been overlooked, from
which a large body of prime seamen may be readily
procured. The men of whom we speak are among the
smartest and ablest seamen afloat—we speak of our
yachtsmen. Supposing the owners of yachts were
either to determine upon laying up their yachts for
this summer, or, better still, were to retain butasmall
portion of their crews, as many for each yacht as
might serve for the nucleus of a fresh crew, they
would be rendering essential service to the State.
Nothing would be a simpler matter, if we may
judge from what we know to be passing at the
present moment in the public service, than to
train up inexperienced seamen to a point which
would render them fully competent for performing
any service that yachtowners might require
of them. If this counsel should be found adapted
to the circumstances of the time, we can have
no doubt that the Queen will be the first to set
an example to her subjects by the sacrifice of her
pleasure to the public good. Every yacht-
owner will be eager to follow the example of the
Sovereign in so patriotic a course, or, at least,
all will be ashamed not to follow it. We be-
lieve we are not overstating the case when we
say that some thousand seamen would be rendered
available for the navy, who will have a strong in-
ducement to keep aloof from the service if they see
a prospect before them of obtaining an engagement
with a yachtowner two months hence. The point
may fairly be left to the consideration of those who
are accustomed to go down to the sea in yachts.
We are very confident that it is only necessary the
point should be brought under their notice, in order
that they themselves may reflect if they cannot by
act or sacrifice promote the public service. The
mere butterflies of the Yacht Club may, perhaps,
manage to do without their regattas for one year—
those gentlemen who engage in such pursuits in a
more energetic spirit may yet contrive to have their
annual cruise, with positive benefit to the public
service.—Times.

THE NAVY OF HOLLAND.

A work published recently at the Hague gives
the following as the state of the navy of Holland,
up to January :

2 ships of the line, first class ...... 84 guns
3 ditto, second class 74 „
2 frigates, first class
2 do., do.
1 steam frigate, do
6 frigates, second class
2 do., do.
1 do., do.
3 corvettes...
5 do.
2 steam do
2 do. (transports)
1 do., do.
11 do., do.
1 do., do.
1 schooner brig (steam)
_,,
And seven schooners of from 1 to 10 guns each, besides
steamers, &c.

.. 41 „
.. 28 „
.. 28 „
. 26 „
.. 18 „
. 22 „

His ROyal Highness Prince Frederick is Admiral
of the fleet, and his Royal Highness Prince Henry
(brother of the King) Commander-in-Chief.

DRURY LANE TREATRE.

Yesterday the morning performance of the popular
pantomime was introduced by a little one-act piece, en-
titled The Four Mowbrays. It has been produced to
give the Ersser children an opportunity of displaying
their histrionic talents before a London audience. The
chief of the little family is Master David Ersser, who
enacts four different youths, thus representing the whole
of his family. The versatility of his characterisation and
the rapidity of his changes excited applause. He is an
undoubtedly clever youth., The pantomime followed,
and was received by a full house wit► as much enthu-
siasm as ever. The boys of the Marine School, Green-
wich, occupied nearly half the pit, the lessee having,
with his well-known liberality, enabled them to have
what was evidently to them a most glorious treat. They
themselves added to the amusement, their own boy-band
being in attendance. Notwithstanding the apparently
undiminished popularity of these morning performances,
next Friday is announced as the last that will be given
this season.

AMERICA.

LATEST FOREIGN NEWS•

(BY ELECTRIC TELEGRAPH.)
ARRIVAL OF THE ATLANTIC.

LIVERPOOL, THURSDAY, 5 A.M.

By the steamer Atlantic we have advice 3 from
New York to the 4th inst. She has brought 55
passengers, and 1,000 dollars in specie on freight.
The news by this arrival is almost entirely devoid
of interest.

From Washington wo learn that no business of
importance had been transacted in either House of
Assembly-. The Nebraska Bill was still under dis-
cussion.

The New York Herald states that no less than 11
vessels were fitting out in different parts of Cuba for
the coast of Africa for slavers • also that seven ves-
sels had sailed within six weeks from Baltimore,
Boston, and New York with the direct intention
of being employed as slavers.

RUSSIA AND TURKEY.

The IVew-York Stock-market was a little firmer.
Erie Railroad shares range:, from 79 to 79l ; Hud-
son River, 68 to 6M- ; Stonnington, CO to 6Gi ;
and Reading, 731 to
Money without change.
Foreign exchange inactive. Bills on London,
1081 to 1.091 ; Paris, 5 171-1 to 520 ; Amsterdam,
411 to 41-k ; Hamburg, 36 to 36g.
Cotton in fair demand, and prices well sustained.
Flour had declined 10c. to 12c. per barrel.
Very little doing in wheat, both holders and
buyers waiting the Arabia's advices.
Indian corn had declined from 3c. to sc. per
bushel.

Provisions unchanged.
3,000 tons Scotch pig iron had been sold at $37
to $3B for. six months.

The following is from Constantinople, &WI
Feb. 2 :

Freight to London.—Wheat, 151 d. per bushel ;
flour, 4s. 9d. per barrel. Naval stores, ss. per
2801bs. ; measurement, 30s. to 355. ; and heavy
goods, 455. to 555. per ton.

" Mehemet Ali Pacha has been - deposed, gol
Riza Pacha appointed Seraskier. Aebmed Pitch*
is made Kapudan Pacha.

• " The combined fleets are still in the flosphorl
Five English and four French steamers have goo*
into the Euxine.

THE PACIFIC MAIL.

The Royal Mail steam-ship La Plata brings news
from the Pacific ports.
The dates from Panama are to the 22d. ult. The
Pacific Steam Navigation Company's steamer Lima
arrived at that port on the 19th, with the mails
from the southern ports; and dates from Valparaiso,
Dec. 31 ; Callao, Jan. 12; and Guayaquil, Jan. 14.
By the Panama route we have also received
accounts from Port Philip to the 15th of Nov.,
but the intelligence is anticipated by the arrival of
the Great Britain at Liverpool.
The Lima brought up $240,000 in silver and
specie for transmission to England across the
Isthmus, and $14,000 iu gold dust for New York
from Austraiia.

" The negative reply of Russia to the last pro'
positions has arrived. A new project by Austria
is spoken of.
"On the 19th Jan. the Russians attacked Chelca
vetil for the sixth time. The Turks made a sortie
and completely defeated them.
" Exchange on London, 129.
"An official despatch states that the Banshee
brought an order to Constantinople for the com-
bined fleets to remain at Beycos. When necessailt
six steamers are to be employed convoying the
Turkish ships to and from Turkish ports. Four
steamers are to reconnoitre in the Euxine, to be
relieved'every fourth day by the Turks."
A letter from the.Piruus, of the Gth, states that
an American war-corvette bad just anchored in
that port. It was rumoured that she preceded *
division of five vessels of war of the United Stat.,
which were shortly to anchor in the waters of COW
stantinople.

The following private telegraphicdespatch, dated
Trieste, Feb. 15, has been received in Paris :

From Valparaiso our accounts are to the 31st of
December. The Republic was perfectly tranquil,
and extensive measures of internal improvement
were being carried out. Mr. Griffin had completed
his contract with the Government for estaolishing
a line of auxiliary screw steamers between Great
Britain and Valparaiso, via the Straits of Magellan,
touching at Rio do Janeiro and Monte Video. An
edict issued by the Archbishop of Santiago against
heretics had been publicly burnt amid great popular
excitement at Copiapo and in some other towns.
Her Majesty's ship Dido arrived at Valparaiso on
the 15th of December from the Gambier Islands.
The Valparaiso markets were dull. Heavy ship-
ments of flour had been made to California and
Australia.

In Bolivia General Beizu was augmenting his
army, and preparing for another and more serious
inroad into the Peruvian territory.
Letters from Lima of the 12th ult. state that
business was very dull in that city, and the inac-
tivity was apravated by the uncertainty of politi-
cal affairs. The people seemed to be growing more
and more discontented with the Government. Don
Domingo Elias, the insurgent chief, had suffered
another defeat near Yea ; General Torrico, with the
Government troops, encountered him on the 7th of
January, and, atter half an hour's fighting, com-
pletely routed the militia and slaves who had rallied
around him. Elias escaped. The Government
troops afterwards returned to Lima, and it was
supposed that active measures to close the war with
Bolivia would continue. Sailors were becoming
very scarce at Callao in consequence of so many
vessels coming from Australia and San Francisco
short-handed. Two severe shocks of an earthquake
were felt at Lima on the 12th of January, at 10
a.m.

" According to letters from Sebastopol, the Ear
lish steamer Haydee, having run aground, had
been taken by the Russians, because shehad Turk*
on board."

THE LETTER OF THE FRENCH EMPEROR,
The Siecle expresses an opinion that the letter
the French Emperor to the Czar would not hays' 1
been published so soon if the Government had n 0
received an intimation that the overture for corgi'
liation which it contains had been or would be re•
jetted. This opinion was generally entertained in
Paris on Tuesday, and the Patric of that evening
as we stated in our impression of yesterday, went"
so far as to say it had received information OAt.
the reply to the letter had been received, and ths
it was not favourable to the hopes of the mairo
tenance of peace.
The Moniteur of yesterday, howeVer, formalli
contradicts this statement, and says that the lir
swer is not expected for some days.
The Moniteur adds that the publication of the
letter has been hastened by the indiscretion of
French and foreign journals which had spoken of its
As regards the opinion that the answer of the
Emperor of Russia had been received when the let'
ter appeared in the Moniteur, it is only necessary/
to calculate dates to be convinced that the opinios
is erroneous. The letter of the Emperor is dated
the 29th ult., and it could not, we imagine, We
arrived at St. Petersburg, considering the season of
the year, before the Gth inst. Two or three dale
is the least that could be allowed for drawing uP
the answer, and it could not reach Paris before
the 16th or 17th.

What is possible, however, is that the French
ambassador, who must still have been in St. Pet era..
burg, may have ascertained that the letter had not
been favourably received, and that there was sh
strong probability of the offer of the French Bet-
peror being rejected. In that case, he may have
sent a special courier with this intelligence to the
French ambassador at Vienna, .who would forward
it to Paris by telegraph, so that it would have ar•
rived at Paris on the 13th. This; however, is
more conjecture.