The Sun.
London, England, 1849-12-28 00:00:00

FRIDAY Fl 11 IN Dr cr,mr.nrn 2O, 1840,

abolished, and the whole revenue be collected by a tax
en property. As to protection, which I eta confident
our heavily-taxed industry requires ngainst the lightly-
taxed indtrttry of the rest of the woritl, that can only he
jusly obtained by stc;it an equitable ulceration of our
monetary system as will protect our industrious classes
egaiust our idle classes • I have always been v.; opinion
th.l.t manufacturers and agriculturists have an equal
right to live, tuid those of either class who think to live
long upon the other will find themselves egregiously
mistaken."

These are, indeed, oz,inicns which we have long and
zealously advocated on fiscal and monetary affairs.
We rejoice to find Mr. MUNTZ expressing his adhe-
sion thereto in a manner so unequivocal and straight-
forward. We cannot conclude our notice without
assuring the Hon. Gentleman that, notwithstanding
any minor differences, we entertain the most sincere
esteem and respect for his character and abilities, and
earnestly hope that he may long be spared health and
strength to labour for the benefit of his fellow-
subjects, as the chosen representative of his native
town.

UHE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.
There was a grand military parade in Paris on
Wednesday. The whole of the garrison, with cannon,
&c., marched through the principal thoroDghfares of the
city. There were upwards of 40,000 men under
arms.

The Papal Nuncio had a long interview with the
PRESIDENT of the Republic on Wednesday.
It is said that the parti pretre and Legitimatists
have determined to oppose the Ministezial measure on
education, and to insist on the passing of the Bill
brought in by M. DE FALLOTJX for giving to the
priests the exclusive control and superintendence of
all educational establishments throughout France, a
plan which its proposers facetiously designate as
tt Liberty of Instruction." MM. FAUCHER, PISCA-
TORT, and several other members of the majority sup-
port the Ministry; and there is, therefore, reason to
hope that the apologists of the Inquisition and their
leader, M. DE MONTALEMBERT, may find themselves
in a minority.

A considerable sensation way produced in Paris on
Wednesday by the announcement that a discovery
had been made of gross frauds, which had for a series
of years been committed in the administrations of the
hospitals of Paris. The officials of the Paris hospitals
are all appointed by the Government, and those
alleged to Lave been guilty of the frauds were, the
greater portion of them, nominated to office by the
GUIZOT DUCHATEL-TESIII Ministry,
Letters of the 20th from Algiers, announce the
arrival there of Air. JAMES RICHARDSON, the African
traveller.

The Moniteur publishes a decree signed by the
PRESIDENT of the Republic, appointing Jules de
Lasteyrie, President, and MM. Louvet, Etienne,
Boulatiguier, Masson, De Gourheret, Matin, Thomas,
and Esquirol, members of a Commission to examine
the Ministerial accounts for the year 1849. The same
official journal announces that the directors of the
Bank of France have declared a dividend on Bank
Stock of 52f. per share for the half-year ending the
31.tt of December, 1849.
A grand dinner was given by the Minister of
Marine on Wednesday, at which the PRESIDENT of
the Republic was present.
A letter from Marseilles of the 231 instant an-
nounces the arrival iu that city of M. DE CORCELLES
from Portici.

Th.?. Bourse was crowded yesterday, and business
corium-need with every appearance of a rise in the
price of public securities. Towards three o'clock,
however, a reaction took place, and the Five per Cents.,
which opened at 92f. 40c. and rose to 92f. 65c , fell
to 92f. 35e., at which they cloEed.
Three per Cents., 561. 55c ; Banque de France,
24001.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDOIN STUCK-EXCHANUE, Ds e. 7.

Boulogne and Amiens, 8 t4—Northe!n of France, 13% dis.
—Orleans and Bourdeaux, 35i—Paris and Rouen, 2l_.
Sambre and Meuse, 2

SPAIN.

Madrid journals of the 20th have arrived.

The Clamor Publico says that a royal order has
been transmitted to the directors of the Treasury, by
which it appears that a new contract has been made
with the firms of BARING and ROTHSCHILD of 12,000
quintals of quicksilver belonging to the products of
the forthcoming year 1850. According to the sti-
pulations of the contract the Government will deliver
to each of these houses an order on the Government
official at Seville, who is employed in packing up the
quicksilver in the iron phials. The individual will
deliver into the hands of the porters of these orders the
12,000 quintals of mecurv, in iron flasks of three
arrobee weight each. Each house is to receive equal
quantities, and the quicksilver is to be given as fast as
it is received from the mines, the Government en
gaging to give in the whole by the end of June. In
exchange for these Government ord,rs, and with re-
ference to other payments in advance by the same
firms, the contractors will pay the sum of fifty thou-
sand pounds sterling in letters of exchange upon
London, to be applied to the payment of the interest
of the Three per Cents. These sums will be reckoned
in the account of payments in advance in January,
1850 (payments for quicksilver by the Treasury), at
a discount of 6 per cent. ant 1 per cent. commission a
year.
It is said that NARVAEZ has been negotiating with
OLOZAGA for the formation of a Progressista Ministry,
of which NARVAEZ is to be the head. Since the
discovery of the Fulgencio intrigue, NARVAEZ has
felt that he cannot trust either CHRISTINA or the
parti prctre. 4iONZALES 13aavo and Mos are now
the constant associates of CHRISTINA, and are busily
engaged in intriguing against NARVAEZ. On the
19th General PAVIA, who is acting with More and
GONZALES BRAVO, gave notice in the Senate that he
should move a resolution to the effect that the forma-
tion of the army of reserve was inexpedient, dan-
gerous, and expensive—a notice which has highly
incensed NARVAEZ, as it is in fact a vote of censure on
his conduct as Minister-at-War.

They write from Barcelona that the magnificent
regiment of Grenadiers at Corunna, and which has
not yet been embarked, i 3 in Italy in a very sickly
state, owing to having encamped in unwholesome
localities.

her right to the marriage portion was thereby
forfeited. Recourse having ag,!in been made to the
ceuris of kw, and these having again pronounced
judgment in favour of Mrs. C., the widow appealed,
in last resort, to the Council of Stag, or rather to its
administrative section, composed of five members, by
whom, owing to score influences and considerations,
which I have reason to believe Mr. C. Will soon make
known to the world, the judgments of all the tribu.
nals were rever=ed, and it was decided that the regis•
tration could not be made without first summoning to
appear in court the Baron de 8., who has been in his
grave upwards of two years !

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREA'.
The :ales of Cotton at Liverpool yeaterday were esti-
mated 1-.lt, 8,(1)0 bales, of which 1,000 America N, 1,000
Bz.hir., 500 I:343ptian, 2,000 Surat, and 200 Sca Island
w( re ;a1 ,:,re on spe•culatlon. The sales comprised 3,500
Arneri:an, 800 Pornam, &c., at Gid. to 6:;d.; 1,200
Bahia, chiefly at 6f1.; 800 Egyptian, at 6FI. to 7sl;
2,500 Surat, at 41d. to 41d.; and 250 Sea Island, at Is.
3d. to Is. 6d. per lb. The market closed firmly, and
prices of all kinds except Surat were I. per lb. higher.
—Railway Shares were dull, and prices tend downwards.
In Mark-lane to-day the arrivals of Foreign Wheat
were 11,240 quarters; of Barley, 10,210 quarters; and
of Oats, 11,570 quarters.
Privately there is a demand for low sorts of Congou,
for Cotton, and for Coffee.

A great deal has been said and written of the import?
ance, in a political as well as commercial view, of mil-
-1 way communication in India, but there is another eaten-
, sive tract of country under British sway which feels yet
more severely the want of similar facilities—we mean
the North American provinces. The elaborate report
drawn up by the Government Commissioners who con-
ducted the special survey has, unfortunately, like most
Blue Books, attracted very little attention in England.
In the colonies it is far otherwise, but the ability to
carry cut any great undertaking requiting a large out-
lay dot s not exist there. The aid of the mother
country is indispensable, if only to inspire confi-
dence, and the most desirable medium of afford-
ing this is by the enterprise of capitalists, secured
to some extent by Government. W e are told that
in the country lying between the Restigonche River and
Halifax, the inhabitants, who will be near to the Quebec
and Halifax Railroad, will amount to about 100,000 ;
making the population either upon or near to the line,
including the two termini, 250,000 persons. But if the
total population be taken within the area which will be
benefited by and become contributors to the line, then it
may be estimated at not less than 400,000 souls.
In a report of the directors made upon the New
York and Erie Railroad, in 1843, when the question
of proceeding with that line was under consideration;
one of the data upon which its future receipts was calcu-
lated was derived from population and relative distance,
and using the data obtained from the working of one
portion which had been completed and was in operation,
it was calculated tha0531,000 persons, on a line of 425
miles in length, would return, iu net earnings, to the
railway, 1,343,500 dollars, or 2i dollars nearly per head,
equivalent to 10s. sterling. As the railroad is not yet
completed, the true result cannot yet be seen, but
applying the same ratio (of 103. per head) to the 400,000
inhabitants NI ho are within the area, and likely to be-
come tributaries to the Quebec and Halifax Railway, it
would give 200,000/. as its probable revenue.
The great staple of trade of New Brunswick is its
timber. For this all-absorbing pursuit the inhabitants
neglect agriculture, and instead of raising their own
supplies, they import provisions in large quantities from
Canada and the United States. In the year 1846, New
Brunswick paid to the latter, for provisions alone,
216,000/. sterling, whilst in return the United States only
took from them 11,000/. in coals and fish.
Of Nova Scotia the great staples are timber and the
products of the fisheries. The inhabitants import pro-
visions largely. Canada is an exporting country, and
capable of supplying the demands of both. In the win-
ter of- 1847-8, the price of flour at Halifax and St.
John was at 40s. the barrel, and it was being imported
from the chief ports in the United States, even from
as far as New Oilcans, in the Gulf of Mexico. At
the same time, at Quebec, the price of flour was only
255. per barrel, a very great difference, which, had the
railroad been in existence would not have occurred.
Another great source of revenue likely to be developed
by the railway is that of coals, to be derived from the
Great Cumberland Field. Quebec and the upper
country would, no doubt, take large quantities for their
own consumption. Halifax the same for its; lf, and also
for exportation to the United States. Considerable returns
would arise from the fisheries and from the products
of the forest lying contiguous to the line,
which would find their ray by it to the shipping ports.
The country through which the road will pass possesses,
therefore, in itself, elements which, when fully deve-
loped, cannot fail to realise large receipts. But there
are, exclusive of these, other and highly important
sourt,s fur productive revenue. Halifax may be consi-
dered to be the nearest great seaport to Europe.
Passengers travelling between England and the Canadas
would adopt this railway as the shortest and best line
which they could take ; emigrants would do the same.
no grand desideratum is political tranquillity and the
co-operation of the Colonial Legislature.
Letters both from liadrid and Barcelona announce
that the new tariff was giving a great impulse to busi-
ness, and that the Customs departments had not been
so active for years. This, considering the tardiness with
which the reforms were undertaken, is certainly very
gratitying.
In the Amsterdam Bourse on Wednesday there
was no particular change. Dutch Stock maintained its
value.

The English Funds are looking up, but there is still
comparatively very little doing. Consols have been 961
to and are now 961 I; New Three-and-a• Quarter per
Cents. 97 4, and Reduced Three per Cents. 96k to
Exchequer-bills are steady at 595. to 605., and India
Bands at 88s. to 91s. premium.
In the Foreign Market a good deal has been done in
Mexican Bonds at an improvement to 29i for money,
and 293 a tor account. Brazil St( ck has been quoted
Bsf. Portuguese Four per Cents. have been marked
364. Spanish Five per Cents. are 19 to *, and the
Three pct. Cents. 3SI to 38-k.
Railway Shares have been fiat again, but the busincss
done has been restricted.

Thin following is an additional statement of railway
receipts : _

1R49.
Great Northern ... £2,71.7
Lancaster and Carlisle 2,843
Blackwall
Lancashire and_Yorkshire
York, Newcastle and Berwick 11,604
York and North Midland 6,702
Great Western ... .......
Bristol and Exeter
South- Westet n 9,427 10,213
ONE tA, 6
V
P 2. , - -.1. ti,T:l TT NI), ,:
O'CLOCK. RI('F.S,
3 er Cent. Reduced Arns ..,..... 96% V.,14 96 tit
g.-w 31.4 per Cent. Ann 5......... 57% 97%
Long Arms, to expire J an. 1860 -16 8 9-16
• die BondA, 1,0004
'onsols for Account 961.4%% 96%
x chequer Bills. 1 1/90. & 2d
1,0001. June 6O 5) p
5001. June ...... 60 59 p
Sm:all. June .. 60 59 p
PRICES OF FOREIGN 'IMO&

£2,465

572
11,134
11,1 5
755

ONE .:1.0.413.
O'CL KIK TRIES
razilian Howls fit tA 8814
Ditto, -New, 1829 and 1839
Equador Bonds
~lexican, s per Cent. 1846, with Coupons—
Ditto, Ex Jan. Coupons ...
Ditto, Account
Peruvian Bonds, 4 per Cent
Ditto, Account
i'ortaguese 5 per Cents.

Ditto, 4 per Cent.
-panith 5 per Cent. 1840
Ditto, Account
Ditto. 3 per Cent
Dividends on the above payable in London.
Beligan, 414 per Cent ......•.
,utch 214 per Cent., 12 Guild. ..
Ditto. 4 per Cent. Certificates B5

551A2

304
187 f,
196
38%

PRICES OF PAID. ,BUSINESS DONE CLOSIN•
,AILWAY SHARES. AT ONE O'CLOCK. PRICE:
berdeen 5O — .. 11
Do. Preference
tuber. Nott., Boston,
and Eastern Junction 634.... ••
kyrshira and Galloway.. 7% —
3elfast & County Down 28
Berks & Ilants Extens.
(Gt. West. Per. 5 per ct.) 6
H° td

armingbam ant_ Ox-
ford J unct., calls duly
paid, or with a guaran. 20
Do, withoutguarantee 20
Wolverh'ton,
and D.idley, calls duly
pd, cr with guarantee 10
Do. a about guarantee 10
B rming..Wolverh'pton,
and Stour Valley 131. 14s ...
•iirkenhead, Lancashire,
and Cheshire June.... 20 ..... . ........
qristol and Exeter 92 ... ..
Ditto, Thirds
3uckinghamshire 17%
Caledonian
Ditto, New 101.. Pref... 10
Ditto,ClydesdaleJunc 50
hester and Holyhead... 50
Ditto, Preference l5
Ciarencb
Do. Ist Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mouth
Dublin and Belfast June. 40 —
jundalk & Enniskillen 271,$ — ............
ast Anglian, 25/., L. &
E. and L. and D...... 25
...............
Do. 18/., E. & H.... 18 ..... — ...
Do., 31. 10s., Pref... WA .....
.....
Ditto, 71.175., 7 per
Cent., Preference... 2
astern Coumies... ..... 20 Do. New, Gua sy
8 ......
. per ct. 10
Ditto,Extension, 5 -

10N,

1%

. per
Cent., No. 1. ...... 61.135. 4d.... p
Ditto ditto, No. 2...61. 13s. 4d...
Do. North. & Eastern,
6 per Cent.
Ditto. 5 per Cent.... 50
... "'Eastern Union, Class A ...
(late E. U. Shares) 25
Ditto, Class A, ditto... 6 - •••,
Do., Class B & C 25 —
Do. Scrip (6 per cent.) 20 „.
Elst Lancashire
•• •• ••• NMI ••
Ditto, New ......
Ditto, New Quarters 61,4 —
Do., 6 per Cent. Pre-
ference Quarters ..• 6% —
East Lincolnshire ...... 25
.•
Edinburgh and Glasgow 50 ....,
..
.......
Ditto, Half Sharea ... 25 .. .. _
.......
EdinburghandNorthern 25 ......
Ditto, Newport l5 .. ...
h'xater,Yeovil, & Dorch. 25, _
.....
.........
Exeter and Exmouth-. 21a•
Gcs.,:ow, Dunifria, and

-
% P

Carlisle
Glasgow,Bilmar.,& Ayr 50 ......
Do. Preference Consol. ...... ....
..
...... ,
Gloucester &Dean Forest 11 ...... -
Great Northern
Do., 1/2 A Deferred
Do., I,i B 6 per Cent... 7% ..
Do., 5 per Cent. Prof. I 0 ...... 7%. 7sii