The Sun.
London, England, 1838-12-05 00:00:00

THE SUN, LONDON, WEDNESDAY, DECEMBER 5, 1838.

cecd to its destination without much molestation from robbers,
banditti, &c.
" The leader, we understand, is to be no less a personage
than Major A. Legrand, of Texas, so favourably and exten-
sively known throughout the country to be traversed by the
caravan. If we recollect aright, Major Legrand was the first
man that led a company of traders from St. Louis to Santa
Fe. It was in 1824, since which time he has made repeated
trips on the same route, and also to California. He is a gen-
tleman of a shrewd and well informed mind, having been
engaged for a considerable time in a lucrative practice as a
lawyer, which he relinquishes for more active and daring
pursuits. He has been concerned on behalf of the Texan
Government, in negotiating treaties with some of the Indian
tribes, and we believe was once sent to the city of Mexico as a
Commissioner on some business for Texas during her colonial
existence."

CHRONICLE.—The exportation of the precious me•
tals from the port of London for the week ending the Ist
instant, Saturday last, consisted, according to the official re-
turns, of 6,800 ounces of coin, not distingnished, of which
5,000 ounces were sent to Sydney, and 1,800 to New York ;
3,265 ounces of gold coin shipped for Hamburg ; 882
ounces of gold bars for the same destination ; and 4,997
ounces of silver coin, which were forwarded to the West
Indies.

The state and prospects of the Corn Trade may be
judged of with some degree of accuracy from the cir-
cumstance that a sale of 10,000 quarters of wheat from
Odessa has been made at the enormous price of 81s., to
be delivered upon the opening of the ports. This wheat
is to be forwarded to Bristol and Gloucester,
.and, being
of a sound and superior quality, is probably intended for
grinding with the Irish wheat, with which those two ports
are usually so largely supplied, but which is this year so
inferior in quality as to be scarcely in general fit for
use. The sale of so large a quantity of Black Sea
wheat at the price of 81s. is, however, an important
circumstance at the present moment, for the principal
part of the supplies which are expected on the
next opening of the ports from that part of the
world ; and there is not only no probability that the ave-
rages will be again lowered by the importation, but, on the
contrary, there is no doubt the average will be even raised,
and that the ports will continue open for many months to
come. The entire deficiency of the whole crop of this
country is now generally taken at twenty-five per cent., or
about 4,000,000 quarters ; and estimating the quality at
fifteen per cent. below that of the average of years, the
real and entire deficiency may be taken at 7,000,000
quarters of wheat alone ; and as the other crops of oats
and potatoes, including Ireland and Scotland, are now
found to yield in a corresponding inferior degree, it may be
doubted whether there is in the country much more thatt
one-half of the food of all descriptions which is required
for the ordinary consumption of a year. Upon this sup-
position it becomes clear that even if half a million of
quarters of wheat should yet arrive from the Black Sea, still
that this would make no impression whatever upon the pre-
sent high prices, and that so large is the'total deficiency that the
prices must continue at a famine rate for a very long time to
come. In some of the northern parts of the kingdom the dis-
tress of the population will probably be almost universal, as in
the Highlands of Scotland, where the letters describe the
country to be almost withont crops of any description, and
that the people will have scarcely any resource but on
English charity alone. Such are the unexaggerated
miseries which lie before the country, so far as opinions
upon the subject can be gathered from the most intelligent
of the corn-factors at Mark-lane, and persons connected
with the agricultural districts. The average price of wheat
yesterday at Birmingham was 80s. per quarter, and by
the last accounts from most parts of Wales it was 85s. per
quarter"; and this, it must be borne in mind, is in the face
of the supplies which the farmers always bring to market
in larger quantities than usual at this period of the year,
to enable them to prepare for the liquidation of their
Christmas bills and charges.
The following letter from Rio de Janeiro, which was
received by the last packet, will be found interesting, as
it gives an apparently impartial statement of the position
of the finances and currency of the country. It has cer-
tainly been forwarded to England from a quarter where
correct information on these matters can be obtained :

" The wretched state of the finances of our country has
been for many years a source of great anxiety to people en-
gaged in the Brazil trade, and unless speedy measures are
adopted by the Legislature, I see no chance of immediate im-
provement. It is true the country possesses immense re-
sources, if properly called forth, and well managed by Go-
vernment ; but in all young countries there is too much com-
petition for power to admit of much unity of purpose on the
part of the Representatives of the people, and hence it is that
hitherto so little has been done in Brazil to improve the- cir-
culating medium. Our currency consists entirely of paper
and copper, and its amount, in round numbers, is about
40,000,000 dollars, or, at the exchange of 40d. the mikes, to
6,666,6661. sterling. This sum is not by any means too
much for the necessities of business, but it wants the desir-
able attribute of being convertible into precious metals at
the will of the holder, which is the only sure foun-
' dation for a paper currency. The Chamber of Com-
merce, appointed to give a plan for the gradual redemption
of the paper money, propose to raise the duties on imports
from 15 per cent., which is the present rate, to 20 per cent.,
applying the additional 5 per cent. annually to thp,t pur-
pose, which in the course of ten to fifteen years would con-
vert the whole into gold and silver. But long before that
period, if the application were honestly made, the paper
money would become of equal value, and indeed be preferred,
from its greater convenience in business. It is true there are
treaties with England and other foreign nations which have
still six years to run, and which are opposed to this plan,
.the
duties being stipulated by them at 15 per cent. ; but we think,
if properly represented, those nations would forego this ad-
vantage in attention to the greater security of their trade by
having a sound currency. At all events it is worth trying.
If, contrary to expectation, the literal fulfilment of the treaties
be insisted upon, the only other resource is domestic annual
loans, which is an onerous mode of accomplishing
the purpose,
and which must be avoided if possible. The internal debt of
Brazil is about six millions, and the foreign as much more ; so
that the whole debt of the country, including the currency,
does not amount to twenty millions sterling."

HERALD.—There is no material alteration in the
value of money for commercial purposes, though on the
Stock Exchange it is rather easier, as the jobbers have
again become rather borrowers of stock. One particular
feature in the present state of the Money Market is the
fact that a great amount of American Bank Stock paper is
afloat, upon which money has been advanced by some of
our capitalists ; therefore, to this particular channel the
late absorption of capital may be mainly attributed. This
circumstance, although it shows that the confidence in the
regeneration of American affairs has lately been obtaining
ground, has raised the question here, whether the negocia-
tion of a paper, not the representative of British mer-
chandise, to so large an extent, confers any direct benefit
upon any classes of the British community beyond our over-
grown dealers in money.
The Continental Exchanges are all quoted lower than
they were on the last post day. On Paris the quotation
has receded to 25f. 621 c. a 25f. 65c. ; on Amsterdam they
are 12 34 ; on -Rotterdam 12 34 ; and on Hamburg 13 10
to 13 10-.
The British Funds have assumed a firmer tone to-day,
although the improvement has been but limited. The job-
bers. have been buyers of stock for money, and sellers for
time, which will have the effect of making the shutting of
the Three-and-a-Half per Cents. easier to-morrow than
was expected. There were some heavy sales effected in
the morning, which caused the market to look heavy, one
party having sold about 70,0001. Consols ; from the effect
of this the market, however, soon rallied. The Govern-
ment Commissioner bought 4,0001. Three per Cent. Re-
duced at 93k. Consols left off at 931 a a Money, and 934
a Account. The Three-and-a-Half per Cent. Reduced
Annuities are 100* a -I, and the New Three-and-a-Half
per Cents. 1001 a money. Bank Stock is 2021, and
India 261 for money. The premium upon Exchequer Bills
is 62 a 64.

There has been but little business in the Foreign Market
to-day ; the quotations have slightly improved.
In Shares there has not been much alteration. Great
Western Railway Shares 12 prem. ; Brighton are 31 dis. ;
Blackwall are 21 dis. ; Birmingham are 80 to 81 prem. ;
Southampton New Shares are 20 prem. ; Croydon New
Shares are 1/ prem. ; and Manchester and Leeds 191
prem. Anti-Dry-rot Registered Shares are 71- a 7 dis.
London Joint-stock Bank are 31 prem. ; and Nationalßank of Ireland / dis.

POST.—The anxiety of the moneyed interest in the
City, with respect to the issue of the military movements
in progress in the Canadas, has very naturally been much
less intense to-day than upon the first receipt of the late
advices from that direction, and the Public Securities have
accordingly improved in value : there is, nevertheless, a
good deal of impatience manifested for the further accounts,
which may be looked for in the course of two or three:days
by the Great Weaern steam-vessel, now on
her return
passage from New York to Bristol.
The improved tone exhibited by the English Market bad
its effect on the value of the Foreign Securities. Dutch
Spanish,Stock
Portuguese,done at
and
South
advance of to and even the
American
Bonds have
participated to a small extent in this improvement.

ilny
injured a man
Essex, by
A young man named Samuel Skelby, possessed of
considerable property, was yesterday remanded from Lam-
bn
ae tmhe- sdt rNeleat
c,
kcehya, rag ecdo
nssvti
at Ibt l
eh aovfinpgi a
isset rotwo u,
beat-
ing him about the head with a gun. The accused had
been out shooting, when Mackey had found fault with
him for allowing his dog to pursue some sheep, and the
assault referrnd to had then been committed. Mackey
lies in a precarious state. The accused denied that he was
the person who committed the assault, asserting that it was
a person unknown, who was then in his company, but had
subsequently made off. Bad to any amount was offered,
bt4 refused.