The Sun.
London, England, 1838-12-19 00:00:00

THE SUN, LONDON, WEDNESDAY, DECEMBER 19, 1838.

CONVENTION OF COMMERCE AND
NAVIGATION BETWEEN HER MAJESTY AND
THE SULTAN OF THE OTTOMAN EMPIRE,
WITH THREE ADDITIONAL ARTICLES THERE-
UNTO ANNEXED, Signed at Balta-Liman, near Con-
stantinople, August 16, 1838.

ancient treaties, or the present treaty, to British merchan-
dise or British subjects.

ARTICLE 11.

All foreign goods brought into Turkey from other
countries shall be freely purchased and traded in, in any
manner, by the subjects of her Britannic Majesty, or the
agents of the same, at any place in the Ottoman dominions ;
and if such foreign goods have paid no other duty than the
duty paid on importation, then the British subject or his
agent shall be able to purchase such foreign goods on pay-
ing the extra duty of two per cent., which he will have to
pay on the sale of his own imported goods, or on their
transmission for sale into the interior ; and after that such
foreign goods shall be re-sold in the interior, or exported,
without further duty ; or should such foreign goods have
already paid the amount of the two duties (i. e., the import
duty and the one fixed interior duty), then they shall be
purchased by the British subject or his agent, and afterwards
re-sold or exported, without ever being submitted to any fur.
ther duty.

MONEY AND CITY NEWS.

(1,11031 TNE 1410ItNIN• PAPERS OF THIS DAT.)
TIM E S.—Another commercial Exchequer bill for 1,0001.
bearing (the same as that adverted to yesterday) the rate of
interest reduced to lkd. per diem, was offered for sale at the
Stock Exchange this morning, but the purchase was declined
unless at it considerable discount. It was then offered at the
Bank of England, and on some plea or other, as it is under.
stood, refused there also. It would appear. therefore, that if
an error has been committed at the Treasury in regard to the
issue of such bills, it is rather an extensive one, while the con-
clusion would be, on the other hand, that Mr. Spring Rice's
experiment has failed, if he intended to make one on the
strength of the market. Such bills, it is now clear, cannot
be permitted to find their way into the general circulation.
There cannot he any claim upon the Bank to help the Trea-
sury through in this matter, for the understood obligation to
take commercial bills at par can only apply to those which
bear the current rate of interest, and not to a new class of
bills, at a lower rate, surreptitiously introduced : and as to
the jobbers, who may be said in this to represent the monied
interest, they absolutely reject them.
By the advices from Hamburgh the price of gold is 4351
per mark, which, at the English Mint price of 31. 17s. 104 d.
the ounce for standard gold, gives an exchange of 13. 10f.,
and the exchange at Hamburgh on London at short being
13. 54., it follows: that gold is 2.31 per cent. dearer at
Hamburgh than in London.
The premium on gold at Paris is 8 per milk, which, at the
English Mint price of 3/. 17s 101 d. per ounce for standard
gold, gives an exchange of 25.35, and the exchange at Paris
on London at short being 25.35, it follows that gold is the
same price at Paris as in London.
The course of exchange at New York on London is 109
per cent., and the par of exchange b,tween England and
America being 109 23.40 per cent., •it follows that the ex-
change is 0.18 per cent. in favour of England.
A sys'ern of fraud upon a large scale in the Manchester
goods line has just been discovered, in which carious parties
arc said to be implicated, both here and in that town. It ap-
pears that a dealer in what are technically called " fents "
that is, the over-measure of plain and printed cotton piece
goods, running from one to two yards each generally, and
cut off the piece before sale to the retail dealer or exporter,
who was in the habit of being supplied by certain persons
here, received a few days ago a package from Manchester
direct, purporting to be the same sort of article. On exa-
mination, however, his suspicions were excited on finding,
by a comparison of the parts where cut off, that whole pieces
of printed cloths had been divided into small lengths,
so as to pass for " rents," and, moreover, that few or no
" tabs" were to be seen ; the " tabs" being the ends of the
pieces on which the printer's name and the place where
printed are always stamped. On this discovery he communi-
nicated his suspicions to a man more conversant with the trade
than he himself was, who not only confirmed his misgivings,
but was able at once to identify the patterns and goods as the
property of a Manchester trader who has lately appeared in
the Gazette. Accompanying the ',Nile was a letter addressed
to the party here ostensibly supplying the goods to the dealer.
Notice was immediately given to the solicitors under the fiat,
to whomthe letter was delivered up, which being forthwith
forwarded to Manchester, has been, it is said, the means of
detecting concealed property of the insolvent to the extent of
several thousands of pounds there and in this city, exclusive of
those of which, under the system of fraud just mentioned for
disposing of them at such an enormous sacrifice, the creditors
have been plundered besides. It is stated that shops had been
opened in and about this city, and confederates placed in them,
for the more prompt disposal of the goods thus iniquitously ac-
quired and concealed. On the exhibition of the intercepted
letter to the principal actor in the scheme of fraud in Man-
chester, he is stated to have confessed all, and a messenger
was expected here to-day to take the accomplices into custody
and regain possession of such portion of the property abstracted
as could be found.

C HR 0 NIC L E.—E verything in the English Stock Market
continues unchanged, both as regards the appearance as well
as the quotations. Consols were last marked at 931: to for
the opening; and Exchequer bills at 63 to 65 prem. The
circumstance of an Exchequer bill bearing a lower rate of
duty than usual having been discovered in the market yester-
day, and about which our Contemporary of the Times makes
so much fuss, appears to have arisen entirely from negligence
in filling up the forms ; the motive attributed to the Govern-
ment by our Contemporary of wishing to introduce bills clan-
destinely at a lower rate being necessarily not entertained for
a moment by any person of proper feeling. Shares, on the
whole, are in the same state.

The rates of Exchange are are again lower to-day, parti-
cularly upon Hamburg and Paris, in consequence of bills
being in demand for transmission in payment for purchases of
corn : these being in fact, with the exception of Odessa, the
only two places where this necessary article can be procured,
as we shall take an opportunity of explaining shortly, and this
is only to a very limited extent, as well as of short duration,
the export duty from France being expected to rise on the lit
of January, when the average is struck, to a prohibitory rate.
The rate of exchange in Paris, short, is 25 32 to 25 35 ;
ditto Three Months, 25 55 to 25 57 ; Hamburgh, 13 7 ;
Rotterdam 12 ; Vienna 10 6 ; Amsterdam 12 2i ; Leg-
horn 301; Trieste 10 7; and Madrid 361.
The exportation of the precious metals from the port of
London for the week ending Saturday last, the 15th instant,
consisted, according to the official returns, of 250 ounces of
gold bars, which were sent to Madras; 4,500 ounces of gold
coin, and 75,975 ounces of silver coin. Of the gold coin,
2,280 ounces were forwarded to South Australia, 1,780
ounces to Madras, 325 ounces to Hamburgh, 100 ouncos to
Mauritius, and 20 ounces to Bussorah. The silver was dis-
posed of as follows :-35,280 ounces to the West Indies,
20,000 ounces to Swan River, 8,700 ounces to Gibraltar,
8,150 ounces to Bussorah, and 3,845 ounces to South Aus-
tralia.

HE RA LD.—The Money Market for commercial purposes
presents no particular room for remark. Money still continues
in demand, and on first-rate paper discounts are still effected
at 3to 3i per cent. On the Stock Exchange money obtains
2f to 3 per cent,
It appears from the commercial advices which have been re-
ceived from many cities of the Continent, that the value of
money has lately been rather advancing, and particularly in
Hamburg, where it now commend• 53- per cent., which city is
the principal medium of commercial exchange with Odessa,
and also the ports of the Baltic. It is also stated that silver
coin is much in request on the Continent, which sufficiently
accounts for the late and continued exportations of that de-
scription cf coinage from this country.
The Continental exchanges have again exhibited a further
downward tendency, and the absent' of bills on the Continent,
in proportion to the extent of money, on 'Change this after-
noon, confirms our previous statements that the late and con-
tinued speculations in foreign corn are the main cause of this
declension.

There has been a continuance of the stability in the British
Funds, to which we referred yesterday, without much business.
The letters which have been received this morning by way
of Marseilles from Alexandria, come down to the 28th ult.
They state that the sailing vessel which had been forwarded
to Cosseir with the Indian mail of the Ist ult. had not arrived,
but that Mr. Waghorn anticipated it would reach that station
in sufficient time to be in London about the Bth or 9th of
January It was also anticipated that a steamer would leave
Bombay for Suez at the end of November with the mails, and
that it is probable they would arrive here on the 18th of
January. The letters from Alexandria by this arrival are
silent upon the state of the war in Persia.
The letters which have been received from Antwerp eulo-
gise the Commercial Bank of Antwerp, which, according to
the annual report, which has been published for the first time,
appears to have been conducted with prudence, and to have
proportionably prospered. The capital of that Institution
amounts to 5.000,000 francs, divided into 5,000 shares, upon
which they have declared a dividend of 30f. sc. each, after
deducting expenses, liabilities, and " rest," as well as interest.
It was also resolved to increase the capital in the sum of
5,000,000 francs, by an issue of 5,000 shares, at a premium
of 20 per cent.