The Sun.
London, England, 1854-02-07 00:00:00

THE SUN, LONDON, TUESDAY EVENING, FEBRUARY 7, 1854.

tions, whether proceeding from the Board of
Customs or of Inland Revenue, may he considered
as frivolous and vexatious, and wholly undeserv-
ing the attention of the Imperial Parliament. If
we profit by the lesson, we may have but little
cause to regret the losses we have sustained since
1849, in consequence of the legislative truckling
to the spirit of red-tapism.

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.
11 The sales of cotton at Liverpool yesterday were
estimated at from 9,000 to 10,000 bales, of which
2,000 American and 1,000 Surat were taken on
speculation. The market closed firmly, with prices
fully supported. The sales comprised 200 Pernam
and Maranham at 6d. to 7 d. ; 300 Egyptian, at
at sd. to Did. ; 2,000 Surat at 2/d. to 3d.
50 Sea Island, at 11d. to Is. Bd., and the remain-
der American. Railway Shares were firm at
Higher prices.
A comparison of railway traffic for the second
half year of 1853 is satisfactory in regard to all tho
principal lines. The returns of sixty-three rail-
ways are now before us, and there is not a single
instance of diminished receipts compared with the
last half of 1852 ; in many cases there has been
some increase of the mileage, but not to any mate-
rial extent. The Bristol and Exeter earned
14,0001. more, but had 19 additional miles open,
the Chester and Holyhead. took 33,000 more, the
Great Western 110,0001. additional, the London
and North-Western took 90,0001. more, the
Brighton 33,0001. more, the South-Western
49,0001. more, the Midland, 50,0001. more, the
South-Eastern 38,0001. more, the South Wales
40,0001. more, the York and Berwick 81,0001.
more, and the Great Northern 106,0001. more.
The French lines also show a more important in-
crease. The Northern of France rose 103,0001., the
Paris and Rouen 36,000/., the Rouen and Havre
25,0001.

The Bankers' Circular enters upon the question
of the present state of the country, bank issues,
and the restrictions placed upon the banks, which
prevent their issuing beyond a certain amount even
if they hold specie. In many instances the limits
assigned are represented to be quite inadequate to
the extent of their business. In some cases most
violent measures have to be taken, even at a great
sacrifice, to bring down the circulation to the re-
quired amount ; and, it should be remarked, that
it arises almost without previous warning, inde-
pendent of the wishes of the bankers' themselves.
In such cases, the head establishment, and all its
branches, have suddenly to suspend the issue of
their notes, and to provide gold on the Bank of
England paper, and the shopkeepers and other
parties in the locality have been waited upon, and
begged of, as a favour, to return the country notes,
the penalty for over issue being exceedingly heavy.
In Scotland the banks are not under the same re-
strictions, and there certainly ought, whatever
we may think of Peel's Currency Act, to be some
concession in regard to the right of issuing upon
special occasions against gold.
The English Stock Market has experienced a re-
action, money stock having come to market upon
the declaration of Ministers that there is no longer
any hope of peace. Consols have been 94 ft, after
having realised 91ft The New 3f per Cents. have
been at 93i to A, and the 3 per Cents. at 92 to A.
Bank Stock has been firm at 2161, and India Stock
at 232. Exchequer Bills are 14s. to 17s. premium,
a rise of 2s. to 3s. There is very little speculation
in Consols, and the money price is under that for
time.

The Foreign Market participates in the general
decline. Mexican have receded to 25 and 241.
Russian 5 per Cents. are 2 per cent. lower, being
1031 to 105, and the 4 per Cents. are 1 per cent.
under yesterday's prices, viz., 90. Spanish New
Deferred are heavy at 19 and 19k. Swedish Bonds
are 89, and Portuguese 5 per Cents. 40. Dutch
2i per Cents. are 61, and the 4 per Cents. 911 f.
BRITISH MINES.—A slight stir for the following
shares took place this day : Alfred Consols, 25 ;
Tavy Consols, 25 i; Sortridge, par.; Bor-
ringdon, 5; Gawton, 2i North Tamar, ; East
Bosom, g; Great Tregune, Kilbricken, 355.;
Mollands, ; Kingston Downs, 12 13; Great
Baddern 1i ; Poltimores, 205., 225. 6d.
The current prices for the Jamaica Mines not
officially quoted are as follows :—Jamaica, ic to -a
prem. ; Metcalfe, Ito prem. ; Sue River, dis.
to par ; Port Royal, to prem.
Railway Shares have been lower this morning,
in consequence of the decline in the funds, and
there have been a good many sellers in some of the
lines at the advanced quotations. Brighton keep
up pretty well. Midland have been 10s. to 1/.
cheaper, and in Lancashire and Yorkshire, Great
Northern, Caledonian, and the other lines, there
has generally been a corresponding reduction.
French Shares have dropped'about 10s. to 15s.
In the Gold Mining Market there has been an
absence of business, except as regards the Agua
Fria, which have been as high as 2 and 21 upon
favourable intelligence said to have been received.

The Joint Stock Bank shares have been at a de-
cline, and also the Land Companies.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(Prom the Official List.) _

Business done.
Bank Stock ..... ........... . ........ 2l6i
3 per Cent. Reduced Annuities 92
3 per Cent, Consols Annuities 9l I
New 31 per Cent. Annuities 93a
Long Annuities, Expire sth Jan., 1860 5i 5-16
India Stock
south Sea Old Annuities lOl
Consols for Account 15th Feb. 9IB
Exchequer Bills, ld.
£IOOO
£5OO l4 17 20 p
Small l4 20
PRICE OF FOREIGN FUNDS THIS DAY.
Mexican 3 per Cent.
Portuguese Bonds, 5 per Cent 4O
Russian Bonds, 1822, 5 per Cent. £St lO5 3i
Ditto 4i per Cent 9O 88i 9i
Strdinian Bonds, 5 per Cent...
Spanish New Deferred, 3 per Cent. l9l 19
Swedish 4 per Cent........
.........
..... 8,
Venezuela Bonds, 3i per Cent.
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Guil 6l 60i
Ditto 4 per Cent. Certifie,ates ......
THREE O'CLOCK.

Consols . , ......... . ....................... 91g A
Ditto February Account ...............

MARKET NEWS-(THIS DAY.)

LATEST FOREIGN NEWS.

RUSSIA AND TURKEY.

The terms of the Russian project or rather
counter project, brought by Count Orloff to
Vienna, were, it is understood, as follows :—First,
it was proposed that a Turkish plenipotentiary
should be sent either to the head-quarters of the
army of occupation, or to St. Petersburg, to treat
directly with Russia, but to be free to see and
advise with the Four Powers. Secondly, the
former treaties between Russia and the Porte to be
renewed. Thirdly, Turkey to enter into an en-
gagement with respect to political refugees—to the
effect, it is supposed, that they should not hence-
forth be harboured in the Ottoman dominions.
And lastly, a declaration from the Porte, couched
in similar terms to the Menschikoff ultimatum,
with reference to the protection of the Greek
Christians.

This project was communicated to the Conference
by Count Buol, and was at once rejected as totally
inadmissible. All negotiations are, therefore,
brought to a close, and there is no probability that
they will be renewed. •
It is surprising that, under such circumstances,
Count Orloff still remains at Vienna. It is gene-
rally supposed that he has some other overtures in
reserve to make to the Austrian Government, in
order to gain time or to produce mischief.
A telegraphic despatch from Berlin, of the 3d,
says it was still believed there that Count Orloff
would not come to Berlin, as the Prussian Cabinet
had already made a declaration which left no doubt
as to the attitude Prussia will assume on the Turco-
Russian question.
The Patrie states that Omer Pacha having
crossed the Danube with 50,000 men, had divided
the Russian army, the right wing of which is at
Krajowa, the left at Galatz, and the centre at
Bucharest. He was only two days' march from
the latter town; where the Russian forces are weak.
It is supposed that his health has improved.
Letters received at the Turkish Embassy at
Paris, it is said, speak of preparations for an attack
pn Bucharest.

An early visit of the King of the Belgians to
Berlin and Vienna was spoken of.
A telegraphic despatch from Constantinople, on
23d January, says :
" A successor to Omer Pacha will be appointed
in case he should be seriously indisposed.
" Three fresh convoys of troops and ammunition
for the army in Asia will sail in a few days, under
escort of a division of the combined fleet.

" The presence of the fleet in the Black Sea has
restored the courage of the Turkish population,
and struck terror into the partisans of Russia.
" The weather was constantly favourable, and
the ships have returned to Beycos none the worse
for their cruise."

The following is from a letter from Constanti-
nople, dated January 23 :---
The electric telegraph will have already apprised
you of the return of the combined British and
French squadrons from the Black Sea. Yesterday
afternoon, to the astonishment of everybody, they
entered the Bosphorus, and cast anchor at Beycos,
their former station. They came from Sinope, and
were six days on the way. Her Britannic Majesty's
steam-frigate, Niger, Captain Heath, was sent to
the Black Sea, with despatches for the admiral from
the ambassador, in the early part of last week, and,
after cruising about for four succesive days, only
fell in with the squadrons in the forenoon of yes-
terday, a few miles distant from the mouth of the
Sea. It is to be presumed that the squadrons will
be out again in a few days. In the meantime the
Fury has gone to Sebastopol, on a similar mission
to that of the Retribution—that is, to demand the
release of some Englishmen who were employed
as engineers on board the Turkish merchant
steamer Tidjari Midjaret, recently captured by
the Russians. I also learn that the Fury is the
bearer of a despatch to the Russian admiral in
command at Sebastopol, relative to the dis-
courteous, or rather semi-hostile, reception given
to the Retribution at that place a short time since.
Altogether, the Fury has a very awkward mission,
and her return is anxiously expected. The depar-
ture of the combined squadrons from the Black
Sea is not calculated to render her position at Se-
bastopol more agreeable ; and it is to be hoped
that the news of this occurrence will not have
reached the Russians before her mission is accom-
plished, as otherwise it has every probability of
proving abortive. It is needless to observe that
the return of the fleets is regarded by the Turks
with an unfavourable eye ; they are at a loss how
to interpret this new movement, and shake their
heads in doubt and dismay.
Since the late battle at Csitate, near Kalafat,
which resulted so favourably to the Turkish arms,
no genuine news of importance has arrived from
the Danube. Rumours and reports abound. An
affair at Matschin and Turtukai is spoken of, but
particulars are wanting. Several Turkish bulletins
are about to be published, but not in time for to-
day's post.

From Asia the news is scanty and uninteresting.
No action has taken place there for some time, and
the Turkish irregular army is being reorganised.
General Guyon (Khurchid Pacha) is actively en-
gaged in introducing many necessary and useful
changes in the army.
A great many arrests were made at this place
last week by the Turkish police, owing to a wide-
spread conspiracy having been discovered. The
two principal persons arrested are Baron Oesler,
who was a captain in the Russian service, and once
aide-de-camp to General Luders ; and M. Paolo
Cassich. The object of this conspiracy was to
cause an insurrection amongst the Greeks, and a
great many perscns are compromised, some being
of high station. The papers found in their houses
are very important ; the full particulars, however,
have not yet transpired. Opinions differ with re-
gard to the tranquil bearing of the Greek popula-
tions of the Ottoman empire, especially those in
European Turkey. That they would be inclined
for rising there is no doubt. Russian agents were
here in plenty until the commencement of the
war ; since then the most important have left.
Several are, to my knowledge, in Grcecia Propria at
this very moment. Persons are not wanting who
look upon the peaceful behaviour of the Greeks as
the calm before the storm, and look forward to
a revolution against the Ottoman rule amongst
those populations as a probable event on the first
favourable contingency. With others, and indeed
generally, the opinion prevails that no such thing
will occur, little confidence being placed in the
spirit of the people, who have been cowed by cen-
turies of harsh rule, and want the heart for a revo-
lutionary movement against the Moslem dominion.
The great fact, however, is not to be disputed,
that the will exists, though perhaps not the power,
or the heart.

According to advices from Giurgevo of the 23d
ult., the waters of the Danube were rising consi-
derably. The country adjacent to the banks is
mostly overflowed. The islands near Giurgevo,
Oltenitza and Sirtow, which hitherto formed a
basisof operations for the Ottoman troops crossing
the river, are quite inundated at present.
Advices from Krajowa of the 25th state that
General Dannenberg is dangerously ill.
Letters from Bucharest of the 24th relate that
the billeting of more troops from Bessarabia has
been announced. It thaws constantly, and the
movements of troops proceed slowly ; with pieces
of artillery of heavy calibre, three times the usual
number of horses is needed to drag them through
the mire. The latest advices from the scene of
action contradict the report of the Turks having
occupied Oltenitza.
We borrow from the Ost Deutsche Post the fol-
lowing from Krajowa of the 25th inst.:—
" Since the arrival of General Schilder a retrograde
movement of the Russian forces in Wallachia has been
observed. Preparations are being made to transfer the
head-quarters from Radovan to Slatina, and engineers
have appeared at the latter place to mark out a new
camp. Prince Gortschakoff came front Radovan to
Krajowa, for the express purpose of holding a conference
with General Schilder, the commissioner extraordinary
of the Czar. Since the battle of Citate the Turks seem
inclined to take up the offensive upon all fortified points
of the Danube, whilst the Russians, probably awaiting
fresh reinforcements, have taken up a rather defensive
position. It is reported that 1,500 Turks crossed the
Danube near Radowa, but Russian reinforcements hav-
ing arrived, they returned to their former position."
The Soldaten Freund has the following interest-
ing report :
Prince Gortschakoff, on the 23d of January, in-

spected the bases of operation on which the ontposts of
the Russian corps now investing the position of Kalafat
I rest. The general who commands this corps, Count
xl tzttp, is very well acquainted with the fortification-, of
this strong position, as he is also with the Turkish
means of maintaining it. Those points only have now
to be fixed on which the batteries of heavy ordnance
are to be raised. The order to close up in a narrower
semicircle had not as yet been issued to the Russian
troops, as the condition of the soil at the season of
the year is such as to offer almost insuperable ob-
stacles to active operations. The Russian corps
of investment consists of the six infantry regiments ;
and of the six chasseur regiments. To each regi-
ment of chasseurs the corresponding batteries and
some troops of Cossacks are attached, on the road
from Radovaa to Baileschti, where the park of artil-
lery is now placed, waiting the storm. At present
two hussar and two dragoon regiments are stationed
there, besides some detachments of sappers and pioneers.
The reserves are stationed in those localities in which
the hospitals have been opened, but which are now filled
to repletion with the sick and invalids. Omer Pacha
has proved of late that, with the army of the Danube
spread over an extent of country fifty German miles in
length, and broken up into small columns, he cannot
undertake any operations on a grand scale ; so that it
appears, on the whole, rather more calculated to afford
relief to the commander-in-chief, than to be absolutely
essential, that the army should be divided into three in-
dependent corps of operation. The corps on the right
flank, whose head-quarters are at Karassu, on the
line of Trajan's Wall, will be commanded by Abdul
Halil Paella ; and that of the centre by Mustapha Pacha,
whose head-quarters will be at Sistowa ; whilst Sami
Pacha is at the head of the third corps, whose
head-quarters are at Florentin, on the frontiers of Ser-
via. It may be interesting to mention that the Servian
troops are also assembling on the Danube under the
command of General Knicanin, at Semendria, and also
at Pozarevac. The Serbian Prince Alexander promises,
in a proclamation to the people, to enter into some fur-
ther explanations as to the object of this assemblage of
active forces. It is worth while also to mention the
formation of a corps of Wallachian and Moldavian
volunteers, under Russian military supervision ; and
the more so as Prince Milosch Obrenowitch, that mortal
enemy of the Turks, has pledged himself to raise a simi-
lar volunteer corps of South Slavonians. It is for this
reason that Omer Pacha is now concentrating his entire
attention upon Sofia and Novipezar, whither consider-
able reinforcements are at this moment being brought
up from Schumla and Adrianople ; and people are now
beginning clearly to apprehend that the struggle will
take place and the battle be fought within that circle,
and in the very heart of European Turkey."
Letters from Constantinople of the 19th ult.
state that the former Minister of Police, Haireddin
Pasha, lately appointed Inspector-General of the
Armies in Asia, left on the 18th for that desti-
nation. The departure of the new convoy of
troops and munitions of war for Asia was to
take place on the 21st. The military rein-
forcements on board consisted of between 7,000
and 8,000 men. The English steamer Sidon,
detached from the squadron of Admiral Corry,
arrived at Constantinople on the 17th. Two
others were expected. It was also said that,
independently of the Vauban and Cacique, then
on their way to Constantinople, two other French
steam-frigates would shortly join the squadron,
the Cabinets of London and Paris having de-
cided that the number of those frigates should be
equal at least, in both squadrons, to that of our
ships of the line, in order to take the latter in tow
when circumstances required. A letter from Trebi-
zond mentions that a few days before the entrance
of the combined fleets into the Black Sea, some
Russian ships cannonaded a small fort situate on the
neighbouring coast ; but that, on being apprised
by a Greek merchantman of the presence of the
squadron at Sinope, they had hastened to weigh
anchor and disappeared. The Lieutenant-Colonel
of artillery, Beurmann, an attache of the French
Embassy, and several foreign officers lately
admitted into the Ottoman service, embarked
on the 17th for Varna, whence they were to
proceed to the head-quarters at Shumla. The
Sultan having heard that Omer Pacha had been of
late indisposed, had sent to him, with the permis-
sion of General Baraguay d'Hilliers, Dr. Fauvel,
who was at the same time to inspect the hospitals
and the medinal department of the army on the
Danube, which, it appears, is anything but satis-
factory. The Sultan had not yet fixed the day for
his departure for Adrianople. The English and
French Ambassadors were to accompany his High-
ness. The relations between Turkey and Persia
had been re-established on the most friendly footing.