The Sun.
London, England, 1849-02-21 00:00:00

ROLLS' COURT.-(THIS DAY.)

The Master of the Rolls sat to-day in his Court in Chan-
cery-lane, but nothing of interest came before his Lordship
during the morning.

VICE-CHAN CERY.-(T HIS DAY.)
(Before the Vice-Chancellor of ENGLAND.)
MYERS V. PIItIGAL.
The further arguments in this case were concluded.
BROOKS V. THE LONDON AND WESTMINSTER BANE.
The arguments in this case were postponed till the Court
sat at Westminster.
(Before the Vice-Chancellor KraGirr BRUCE.)
His Honour, the Vice-Chancellor Knight Bruce was occu-
pied the whole morning with hearing bankrupts' petitions
of no general interest.
(Before the Vice-Chancellor WIGSAM.)
DOUGLAS V. WILLES.
The further arguments in this part-heard case occupied
the Court the whole dad•.

SECONDARIES'.-(THIS DAY.)
There was only one case heard, " Stonehouse v. Young,"
to recover the sum of 3251. 4s. 6d. The defendant did not
plead, and a verdict was given for the amount.

MONEY and COMMERCIAL NEWS.

CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were estimated
at 4,009 to 5,000 bales, and included 3,400 American; 200
Egyptian realised 53Qd. to 71A d. ; 500 Surats, 314 d. to 4d. •,
and 300 Sea Islands, 8d to Is. The market was dull, and
closed tamely. Compared with last Friday's prices, American
sorts were lid. per lb. lower; other kinds were firm, except
Sea Islands, which were rather dearer. In Railway Shares
a fair business was done, but at lower rates.
There are no further arrivals to-day, and the accounts from
the Continent are not of special interest. The French Funds
come lower, and this has some effect here.

The Corn Market is heavy.
The circumstance that the Chancellor of the Exchequer
has announced a reduction in the rate of interest on the bills
falling due next month gives rise to the impression that the
Bank of England will lower its discount terms, but a subject
more attractive is the Californian gold affair, and the follow-
ing is some further reasoning on the subject derived from
American sources :

" The labour of but forty thousand men, at only three
dollars per day, will produce in three hundred days thirty-
six millions of dollars. We have no doubt that in less than
twelve months there will be at least one hundred thousand
persons among the mines engaged in digging for gold ; and
if these average but two dollars per day each, they will pro-
duce sixty millions of dollars worth of gold in a year. This
calculation is only at the rate of an ordinary day's
wages ; but if the same number of operatives average
a production equal to that realised by those already
on the ground—according to official and other reports--
the annual extraction will amount to about four hundred
millions of dollars worth. The labour of one hundred
thousand men in the usual employments of life will, if
properly directed, produce property to the value of at least
forty-five millions of dollars, and will add so much to the
aggregate wealth of the country ; but if the same number of
men dig out of the earth five dollars worth of gold each per
day, they add one hundred and fifty millions of dollars in
gold to the currency of the world, which will represent one
hundred times that amount of property. The conclusion
we arrive at, in this view of the subject is, that at the most
moderate calculation relative to emigration and production,
there will be extracted from the mines of California, at least
one hundred millions of dollars' worth of gold, within the
next twelve months. This, added to the gold currency of
the world will, when distributed, have very little influence
upon the movements of commerce; but at first
it will tend to an inflation of prices at the
principal points of accumulation. The production of one
hundred millions of dollars' worth of gold in Cali-
fornia annually would give that country a more rapid growth
than ever was realised in any other part of the
world. It would attract emigration from all parts of crea-
tion, and enable the population, as it increased, to furnish
markets for all the luxuries and all the necessaries of life,
which the industry of other countries produced. If California
has the gold, she has the means of becoming one of the most
prosperous portions of the world ; if she has not, hun •
dreds of those who have already gone there will starve."
The English Funds are still affected :by a rather over
abundant supply of money stock, but they seemed to be
somewhat more buoyant than yesterday. Consols for transfer
have been 93 to 939, and for time,
.931/3 to 93%. Bank
Stock is 195 to 196. The New Three-and-a-Quarter per
Cents. have realised 94 to 94%. Exchequer Bills realise
43s to 465. premium.
The*Foreign Securities have been very quiet, but Mexi-
can have improved to 253% to 26. French Five per Cents.
are 82f. 50c., with the exchange at 25f. 25c. Spanish Five per
Cents. have been 17% to 17%. Portuguese Four per Cents.
have been 25 to 26. Dutch Two-and-a-Half per Cents.
have been 5014 to A. The New Danish Loan, it appears, is
to be in a Five per Cent. Stock.
The Railway Share Market is better to-day, and prices
have risen. The Aberdeen Preference Shares have been all
readily taken up it is said.

ONE OW:SING
1,-,1 Em or .+RlTlaki FUNDb, 0%1.00E. PRICES.
Bank Stock 195 196 196
3 per Cent. Reduced Anus 934%1/e 931
3 per Cent. Consols Annuities 93M U,,,(4 93 93M
New 3M per Cent. Anne.... .
uong Anna. to expire J an. 1860
Ditto, Oct. 10, 1859 .....
Ditto 30 years, Jan. 5, 1860 B% $l4
India Stock
India Bonds, 1,0001. —

Ditto under 1,0001. .. ...... 53 p 53 p
Consols for Account 931/alall4 93%
Exchequer Bills. 2%d. & 2d.
1,0001. June 44 46 43 p 43 p
500/. June
Ditto Advertised, June 37 40 36 p 36 p
PRICES OF FOREIGN FUNDS ONE CLOSING
O'CLOCK. PRICES.
Equador Bonds .- 314

..:.(luau,,.
Grenada Boads, 1 per Cent. — 17 i. 2
Mexican, 5 per Cent. 1846 253/4 26 253/4
Ditto, Account
Peruvian Bonds, 6 per Cents —
' Ditto Account
Spanish 5 per Cent. 1840.
Ditto. Account 17%141,4% 171;i
Ditto, Passive
Ditto, 3 per Cent —
Ditto, Account .
Venezuela Bonds, 21/i per Cent — 21%