The Sun.
London, England, 1838-05-01 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY (Tiffs' DAY), TWELVE O'CLOCK.
. • ---4 stock Exchange, conse.
ibis is a holiday both at the -Thom • re-
quent ly both are closed, and no business doing in either of Inn
sorts. Up to the present hour business is very dull in the City.
American Papers to the 10th have been received by the Louis
Philippe, which arrived off Falmouth. The contents of the above
papers are not of much importance. They contain a copy of a letter
from Mr. Biddle, the President of the United States Bank, addressed to
John Quincy Adams, upon the subject of the resumption of specie pay.
moots The above letter will be found in another part of the paper.
The Exchange from New York comes 4, prem.; United Bank Shares,
113 k, No news in them from Canada.
From the New York papers of the 9th of April:—
" lltsraotr, MARCH 29.—Great excitement prevails here on the sub-
ject of the currency. The unchartered institutions that have come
into operation under the great banking law, are, many of them, In a
rotten condition. They have extended their issues so fir, that, in
many instances, the assets and securities will go but little way towards
discharging their responsibilities. The Bank Commissioners reported
yesterday to the Legislature six institutions again ;t which injunctions
have been issued for malpractices. They have also cautioned the pub-
lic a3aiiist receiving the notes of several others. Doubtless many of
these banks are sound, but all confidence in them is now gone."
" BUFFALO, APRIL 2.—The navigation of the lakes have been open
for the last six days. We had a departure yesterday— the revenue
cutter—and two arrivals to-day. All frontier troubles in this region have
ceased, and quiet, if not good feeling, is again restored."
Canton Papers have been received this day to the 3d of January. We
extract the following commercial remarks :—" British Manufactures—
Recent transactions have been but on a moderate scale, and prices re-
main without any ♦ariation. Opium—The supplies at Whainpoa are
beComing more general, but we understand the sales are less brisk than
they were, and prices not so favourable. Reports of seizures are fre-
quently in circulation, no doubt much exaggerated. We do not hear
of any particular deliveries outward, or at Macao, where the market is
very dull." _ _ _

HALF-PAST ONE.

We have received the Journal of Antwerp of yesterday's date, bring-
ing the Amsterdam prices of the 28th April : Two.and-a.Half per
Cents. i 44 ; Five per Cents. 1014.
From Canton Paper received this morning:—" OPIUM.—We are
assured on the best authority that there is not the slightest foundation
for the report which we quoted in our Paper, that the Board of Opium
intended to reduce the cultivation of the drug. On the contrary, we
are informed that it is intended to raise the Bengal produce to 25,000
per annum within the next three years, so that speculators may calculate
upon an increased supply, unless a failure of the crop should take place."
The bad state of the weather, with the Stock Exchange being closed,
has scattered the jobbers and speculators in the funds in all directions,
to take shelter. They have resorted to the various coffee-houses and
chop-houses round the late Royal Exchange. Up to the present time
we do not hear of any transactions in the funds worth notice.