The Sun.
London, England, 1853-08-25 00:00:00

THE Sti N. LONDON, THURSDAY EVENING, AUGUST 25, 1853.

example on a large scale, by substituting five mils
in place of four for the penny in postage, and
wherever else it is payable.
_

There can be no doubt that in one respect the
retention of the pound sterling either as the unit,
or easily convertible thereto, is of great prac- ,
tical importance. It is, as stated by the coin•
mittee, the term in which all contracts of any im-
portance are framed, the basis on which all our
transactions with other nations rests. Any change
in its actual value, or complication of accounts,
would be so very injurious as to render it any-
thing but an improvement. The adoption of the
present florin as the unit, would, however, not
lead to any difficulty, as the cutting off a single
figure would at once convert the florins into
pounds sterling, and- there would then be no ne-
cessity of going beyond two places of decimals, or
below cents. in the denominations of coin. The
value of the English cent. would thus be more
analogous to the similar denominations of other
countries, than if it were ten times more valuable,
as suggested by the committee, and the " mil "
would be altogether avoided. We believe that
there would be very beneficial results arising from
this change, without any practical inconvenience
worth mentioning.
But then it is said, that this would not meet
the objection as to the retention of the smaller
coins now in use ; whereas, if we took a florin of
20 pence, it would leave the penny exactly equal
to five cents of the new system. There are many
points in favour of this proposition which will be
found well worthy of consideration. We do not
at present assert that ultimately it will be deemed
more eligible than the existing florin, and it would
be a serious drawback that it would be but the
one-twelfth in place of one-tenth of the pound.
But, still, it should not be dismissed until the
comparative advantages and disadvantages have
been carefully compared and fully and accurately
tested. There is still abundant time to do so be-
fore the reassembling of Parliament, and we trust
that monetary reformers will bestow the attention
on the subject which it so eminently merits.

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,000 American
were taken for export. The market closed steadily,
but tame. The sales comprised 4,500 American ,
110 Pernam and Maranham, at 6d. to Bd. ; 250
Bahia at 6/d. to 6d. ; 500 Egyptian at 61. d. to
Bd. ; 500 Surat, at 3d. to 4id. ; and 100 Sea Island,
at ls. 6d. to 3s. per lb. Railway Shares were dull.
The following report upon the state of the dried
fruit trade is furnished by Messrs. Witherby and
Hanson :

" Until this week when three cargoes of new currants
have been reported from Patras, there had been no
direct arrivals for a month past. The Continent appears
to be stripped of nearly all its stock, but every fresh ad-
vance in price here still brings forward small stray parcels
of 1851 fruit. The clearances continue nearly on a level
with those of last August, having been 340 tons for con-
sumption from Ist to 19th inst., against 370 tons from
Ist to 19th August, 1852, reducing our London stock
on 15th inst. to about 4,000 tons. At this period in
1852 we were receiving largely from the Continent,
from whence we continued to be heavily supplied till
the end of the year. As this cannot be the case this year,
and as the direct arrivals will consist of new fruit, with
very little old, it is obvious that the scarcity of old fruit
will be seriously felt towards winter, and that still higher
prices of both kinds must be the result. The Board of
Trade returns for the first 6 months of this year show the
consumption of the United Kingdom to have been 6,010
against 9,070 in 1852, or a falling of off 3,060 tons in six
months, which is less than might have been expected,
considering that in the former period prices ruled from
28s. to 365., and in the latter from 60s. to 85s. per cwt.
Moreover, the clearances of May and June last were
partly checked by the uncertainty respecting a reduc-
tion in duty. Our report of 6th inst. advised an ad-
vance of ss. per cwt. on good old Fruit, owing to ex-
tensive purchases by the trade. The Market remained
inactive until 17th hist. when worse intelligence than
any previously received respecting the crops, led imme-
diately to large operations in good and fine Fruit on
speculation. The result has been a further advance in
such descriptions of 6s. to Bs. per cwt, at which the gro-
cers have disposed of the principal portion of what they
had previously bought with a view of holding for
the autumn demand. Ordinary 1851 fruit and new fruit
have been quite neglected ; of the former there is none
to be had below 80s and 84s. The clearances of raisins
for consumption have proceeded latterly on a reduced
scale, limited principally to black Smyrna raisins. The
Board of Trade returns for the first six months show a
comparative deficit of 475 tons in the consumption of
the United Kingdom during the first six months of this
year, which arose from the stoppage of clearances during
six weeks, but which will have been made up under the
reduced duty. The market has been quiet for some
time past, but the consumption is expected to be
large."
The steamer Valetta with the overland mail
arrived at Marseilles this morning. This vessel
appears to be running at an unusual speed, and is
a proof of what modern improvements can accom-
plish. Her rate upon the present occasion has been
equal throughout to 14 knots an hour.
The English funds have been very steady, and
there has been the same wont of life in the market
as for some days past. Even the Eastern news is
too vague to justify speculators in investing. Con-
sols have been 981 to for transfer and account.
The New 3± per Cents. have realised 104 ; and
the 3 per Cents. 99 to t. Exchequer Bills have
been quoted 2s. premium.
Foreign Securities have been inactive, and
scarcely so firm. Grenada Active Stock has been
at 23, and the Deferred at 10 to t, which are
slightly'lower rates. Equador Bonds are 51,-, and
Venezuela 38/. Portuguese Four per Cents. keep
at 45. Spanish Bonds are nominal. Russian Five
per Cents. have been up to 118 i. The Dutch
Two-and-a-Half per Cents. have realised 64g.
The last week's railway receipts, ascertained up
to this day, are in round figures as under

North Western
South Western
Brighton
Midland
South Eastern
Lancashire and Yorkshire
Great Northern
York and North Midland, Newcastle

1853. 1852.
£60,050 £53,311
18,981 14,556
15,094 12,746
27,486 24,069
22,118 18,887
22,471 21,137
18,174 14,073

and Berwick, and Leeds Northern 32,358 28,508
Caledonian and Edin. and Glasgow.. 16,353 14,320
The Railway Share Market is slightly in favoUr
of buyers, and there is not much doing.
The Joint-Stock Bank Shares have been rather
weaker, and also the Land Companies. The Gold
Mines are neglected.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(Prom. the Oficial List.)
Business done.
3 per Cent. Reduced Annuities ...... 99 9
3 per Cent. Consols Annuities .
New 3i per Cent. Annuities lOl 7)
Long Annuities, Expire sth Jan., 1860 5 15-16 6
Consols for Account Bth September 983 j
Exchequer Bills,
£l000
£5OO
Small lp ld
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent
102
Eqnador Bonds
Grenada 1849, Coupon 23
4
101- 10
Peruvian Bonds, 4i per Cent.
Grenada
BBoonnddss:
DE xe
f.
eArreeca.
85
Peruvian Deferred 3 per Cent.
Portuguese Bonds, 4 per Cent.
Russian Bonds, 5 per Cent.
Venezuela Bonds, 3. per Cent. ....... ..... 38i
Ditto Deterred, 1 per Cent l6i
Dividends on the above payable in London.
Dutch Exchange, 2. per Cent 613
Ditto 4 per Cent. Certificates..,~,

%d
x d

HALF-PAST TTVO.
Consols 9Bl
Ditto September Account 984

AUSTRALIAN EMIGRATION.—SOUTHAMPTON, August
24,--The fine East India ship Herefordshire, com-
manded by Captain George Richardson, left the river
yesterday for Sydney, with a full complement of emi-
grants, comprising 370 statute adults, equal to 450
souls, the whole consisting of railway excavators (ac-
companied by their wives and families), intended for
the service of the Sydney Railway Company, to whom
they are under agreement to work for two years, at ss.
perlday. A favourable feature in the aspect of Austra-
lian emigration is the large class of ships now chartered
and employed by the Emigration Commissioners. The
Herefordshire is a noble frigate-built ship, of 1,354
tons register, or over 1,600 burden, belonging to Mr.
Fergusson, of London, well known for her rapid pas-
sages while engaged for conveying troops to and from
various parts of the world. The use of such large
and roomy ships is of immense advantage to the
health and comforts of the emigrants during their
long voyage. The sleeping berths being arranged on
the main deck, the ports, in such a ship as the Hereford-
shire, can always be kept open if necessary, and thus
adequate ventilation is secured. On board the Here-
fordshire, the arrangements seemed to be of the best de-
scription in every respect, and all the members of this
large party, crew, passengers, and emigrants, consisting
of nearly 450 people, seemed contented and happy at the
commencement of their arduous voyage. Just prior to
departure the emigrants were addressed respectively by
Mr. Smith the government emigration agent at this
port, and by the Rev. Mr. Scotland, the chaplain of the
Southampton depot. Their attentive demeanour during the
delivery of the two excellent addresses delivered by these
gentlemen proved how much the advice conveyed to
them was appreciated, and they testified their satisfaction
at the measures adopted for their comfort by repeated
and hearty bursts of cheering as the steam tender
left the side of the vessel for the shore. 154 Bibles and
220 prayer books, besides tracts and other religious
works, were gratuitously distributed among the people
going out in this ship by the Rev. Mr. Scotland, who,
in these matters, acts most indefatigably as the age
of the British and Foreign Bible and the Christian
Knowledge Societies. The Herefordshire takes out
nearly 1,200 tons of manufactured goods of all sorts for
the Australian markets, at rates of freight varying from
80s. to 90s. per ton. Her voyage will doubtless be
a remunerative one to her ow aers, and nothing has
been or will be left undone by her popular and gentle-
manly commander to contribute to the happiness and
welfare of the large number of people committed to
his charge. The surgeon of this vessel, to whom the
official care of the emigrants is intrusted by the
commissioners, is Dr. Thornton, a gentleman of consi-
derable experience in the management of this description
of business, having already made two voyages of a
similar nature to Australia. The Herefordshire is the
only emigrant vessel yet dispatched from this port which
has not embarked the passengers in the Southampton
Docks. This arises from her being a heavy teak-built
ship, of a draught of water exceeding that of ordinary
ships of her size, and the owner, therefore, demurred to
permitting her to go into the tidal basin. It is right,
however, to state that ships of much larger size con-
stantly enter and leave these docks ; for example, the
West India, Peninsular, and American steam-ships of
sizes varying from 2,000 to 2,800 tons, and in 1851 the
United States' frigate St. Lawrence, of 50 guns (a ship
far surpassing the Herefordshire in tonnage), came into
the docks with all her guns and stores on board, to dis-
charge her cargo for the Great Exhibition.
SMOKELESS FUBNACES.—A patent under this title
has been recently secured by Mr. Lee Stevens, which
for simplicity and effectiveness is well worthy of public
attention. The invention consists in an arrangement
by which the hot cinders from the fire box falling on a
grate underneath are there turned to account in heating
a current of air, which, passing into the furnace, pre-
vents the generation of smoke. Two favourable
examples of the working of the patent were exhibited
yesterday, and gave great satisfaction to those who wit-
nessed them. The arrangement is .applicable to all
furnaces, and involves only a trifling expense. It has
the advantage of striking at the root of the smoke nui-
sance, and preveating instead of curing it.—Times.
Chicory is now made to resemble the coffee-berry.
The chicory is graund, and made into a stiff paste, and
in this state is so moulded as to resemble the real berry.
The imitation is so perfect as to deceive the keenest
eye.

THE PENINSULAR MAILS.

SOUTHAMPTON, THURSDAY MORNING.
The Peninsular and Oriental Steam Navigation
Company's ship Madrid, Captain John Weeks, has
arrived, with dates from Gibraltar, 16th • Cadiz,
17th ; Lisbon, 19th ; Oporto, 20th ; and Vigo,
21st inst. She brings 101 boxes grapes; 298 boxes
lemons ; 42 boxes eggs ; and sundry merchandize.
The Madrid was detained 24 hours at Vigo by a
fog, and has experienced strong north-east winds
whilst coasting the bay.
Lisbon letters of the 19th announce the closing
of the Cortes, on the 15th, by Royal decree.
The prospects of the country were very unfa-
vourable, owing to the rapid and general spread of
the grape disease ; the grape shipments by the
packets will not, it was expected, reach more than
10 per cent. of the quantity usually shipped.
The screw steamer Albatross was to leave Lisbon
for Liverpool on the 19th. Two English frigates
and a steamer were off Lisbon on the 18th instant,
steering south.

Exchange on London was quoted 514, with a
scarcity of money, and bills over three per cent.
Stock (New) were 41} to 42 ; Bank of Portugal
Shares, 137 to 133 milreis discount ; Lisbon Bank
notes, 2 per cent. discount.

COURT OF BANKRUPTCY.-(THIS DAY.)

(Before Mr. Commissioner Fonblanque.)
Important application for discharge from custody after
refusal of protection.

IN RE MILES AND MILES.

These bankrupts had carried on business in the Mile-
end-road as drapers, and the certificate was suspended
for two years—no protection to be granted for six
months.

Mr. Plews (Lawrance and Plews), now applied for the
discharge of one of the bankrupts who been taken in
execution, and now in the Queen's Bench Prison. The
bankrupt had kept out of the way for 15 months, and
then obtained a situation, but was arrested. It was
contended that after the six months had expired the
bankrupt was entitled to protection, or if in custody, to
his discharge, there being no condition in the order of
the Commissioner that the bankrupt should imprisoned
for that time before protection should be granted.
His Honour—What is the operative meaning of the
word " refusal" of protection—the order is that the cer-
tificate be refused for 2 years, without protection for
six months ?

Mr. Plews—But the protection is only refused for six
months, and a bankrupt is always at the mercy of his
creditors for that time, and when that period has expired
he is entitled to protection.
Mr. Mason, for the assignees, opposed the application
on the ground that the bankrupt had kept out of the
way, in contempt of the Court, and the other bankrupt
had absconded. He contended that there had been an
evasion of the act, and that the bankrupt was not en-
titled to his discharge.
His Honour agreed. The refusal of protection would
be a mere nullity if such applications were granted. The
refusal of protection was intended as a punishment, and
a mode of affording creditors facilities. It was not in-
tended that a bankrupt unprotected should be allowed
to come in and surrender one day before the limited time,
and the day after apply for his discharge.
Application refused.

25
25
St.
50

St.
St:
St.
20
St.
15

16i
10
St.
St.

10
25
10•
1.0.6

St.
20
5
St.

10
20
20
33i
10
20