The Sun.
London, England, 1849-12-24 00:00:00

MONDAY EVENING, DECEMNER 24, 1849.

l'llh FRENCH REPUBLIC,

We have received the Paris journals of Saturday
and yesterday.
An interesting discussion took place in the As
serably on Friday, on the presentation of a Bill
authorizing the Bank of France to increase its issues

from 452 millions to 525 million of francs.

In the course of the debate, M. Fould, the Minister
of Finance, said that the Bill would not have been

presented at all, had it not been absolutely called
for by the necessities of the moment. The public
demanded notes as more convenient for business than

specie; and, in consequence, as the metallic reserve
had increased beyond measure, it was found neces-
sary to favour the increased circulation which was
now required to suit the general convenience. The
Bank hitherto was allowed to issue 452,000,000 f. in
notes; by thetpresent Bill that sum was to be increased

o 525,600,000 f. Was that to be done under circum-

stances of danger for the Bank ? Not in the least,
since the metallic reserve was at present somewhat
over 420,000,000 f. There was, therefore, no danger
for the Bank, whilst there would be very con-

siderable advantage to the public. The Honourable

Minister then referred to the twosums of 50,000,000 f.
each, advanced by the Bank of France to the Go-
vernment after. the revolution, and asked where

could the State hope at present to procure money on
such favourable terms ? The first of these sums lent

against Bens du Tresor was given at 4 per cent., and
the other, forming part of the loan of 150,000,0001.,
at 5 per cent. Could the State find anywhere better
conditions ? He then referred to the circumstances
under which the money bad been advanced, when, in
consequence of the dreadful period which succeeded
the revolution of February, the Provisional Govern-
ment would not have had money to carry on the
public service had not the Bank come forward to
afford its aid. He theri pointed to the conduct of
England in 1847, when the Bank was permitted at a
moment of crisis to go beyond its legal issues in order
to afford relief to the commercial classes. Yet the
sum now demanded for the Bank only amounted to
73,000,000 f., certainly only a small increase, when
the immense amount of capital in its coffers was taken
into consideration. He believed firmly that the in-
creased issue now demanded would have the effect of
imparting activity to business, and he had little doubt
that the Assembly would look at the matter in his
point of view.
M. Sainte-Benve thought that, if the present Bill
were adopted, the decree of the Provisional Govern-
ment, giving a forced currency to its notes, ought
to cease to be valid, and he should, in consequence,
propose an amendment to that effect. He looked on
the fact of the Government borrowing money from
the Batik as an unwise step, as by such step it did
nothing less than authorise the Bank to make paper
money.—(Murmurs of denial.) Assignats were marked
by three characteristics—they were in paper, were
guaranteed by no amount of specie, and were the
same as the present bank-notes. The State gave a
piece of white paper to the Bank, which returned it
with a stamp and a signature, and took 4 per cent.
interest.--(Agitation.) In two years more it would
be necessary to renew both the legislature and ex-
ecutive power ; and the nearer came that period the
more would the agitation of the country increase.
Was it with such a prospect that sound financial tra
ditions were to be departed from ? The Honourable
Representative then argued that a forced currency
could never be a sound or safe one, and must lead to
depreciation. When paper was good, it was taken, he
said readily, without requiring to be imposed on the
public. He concluded by reading the amendment of
which he had spoken, and calling on the Assembly
to adopt it.
M. Leon Faucher said that what was now asked
was to continue what the Provisional Government had
before done ;namely, to give a forced currency to
bank-notes ; and that had been done for the interest of
commerce as well as for that of government. The
only question to be considered was, whether the neces-
sity for such a measure still existed. In his opinion
it certainly did. It was, no doubt, easier to establi,h
a forced currency than to put an end to it when in
existence; for, after it had been long in use, it be-
came a kind of necessity which it was difficult to re-
move. An immense void had, he said, been made in
the circulation by the financial situation of the coun-
try ; it was not improbable, he thought, that a milliard
had disappeared from circulation since the revolution
of February. If the forced currency of bank-notes was
done away with, the Bank would be compelled to
double its capital ; and that, it was evident, it could not
effect. The Government had, he said, made an excellent
bargain in its last contract with the Bank, for it had
borrowed money at 4 per cent. which it could not get
elsewhere at less than 6 per cent —(Cries of "La
cloture ! la cloture !") As far as his opinion went,
there could not be any valid objection brought against
the present Bill. It ought never to be forgotten that
the signature which M. St. ,Beuve appeared to treat
so lightly in fact represented the capital of the Bank
of France."
The President—The tribune is to M. Raudot
against the cloture.
M. Raudot: considered that the question now under
discussion was one of great importance, and he re-
quested from the Assembly permission to say a few
words on the subject.—(Loud cries of " Enough !
enough !" " La cloture !")
Tne Assembly consulted, and decided on the dis-
cussion being continued.
M. Ney de la Moscowa argued that the issues of
the Bank of France, far from being exaggerated,
were altogether insufficient.
M. Raudot again ascended the tribune, and ex-
pressed his apprehensions that the situation would be
found exceedingly critical. For his part the preseet
Bill appeared to him nothing more than one of a
series of expedients which would in the end lead to
bankruptcy.—(Enough ! enough !)
The Minister of Finance repelled with energy the
fears expressed by the last speaker. The situation,
he said, though tight, was not alarming; no deficit
Was announced, and nothing whatever led to the idea
of bankruptcy, so often in the mouths of Hon.
Gentlemen.—(Cries of " La cloture 1")
The debate was then adjourned, and resumed on
Saturday, when the Bill was passed by a large
majority.
The Refornie has the following :
" Yesterday morning a commissary of police, accom-
panied by three agents, presented themselves at our
affic(s with a warrant to search for letters, purporting to
have been written from Belle Be, but which, it was said,
were fabricated. After a strict examination, the com-
missary retired, taking with him a document which had
been deposited with us, and which was a protest, signed
by 98 of the transported prisoners who remained at Bele
Ilea against the term ' repris de justice,' which had been
applied to them."
The Ordre, the organ of M. ODILON BARROT,
publishes a letter from a person on board the French
fleet at Ourlac of the 6th inst., mentioning the arrival
of the steamer Prony, with orders, as reported for the
recall of the fleet. The steamer had continued her
route for Constantinople. The writer regards the
recall of the fleeet as an error in policy, being calcu-
lated to offend England; who does not intend to with-
draw her fleet until all differences be finally settled,
which he thinks is far from being the case. Russia
seems determined, on the one hand, to maintain an
army in the Danubian provinces, while Turkey is
edually determined to repel such pretension, even at
the hazard of war. In conclusion, the writer thinks
that General AUPICK will not sanction the recall of
the fleet, but will send home energetic remonstrances
against the execution of any such intention.
The jury of the Gironde have acquitted eighteen
persons accused of being members of the Solida-
rite Repullisaine. •
It is considered probable that an expedition will be
directed to the River Plate against Roses, whose
resignation of the Government is a farce, which,
says the Delats, has been annually repeated.
the Committee on Finance, in its report on the
supplementary credit demanded for paying the sub-
sidy to the state of Monte Video, thus speaks of the
state of relations between France and the States of
the Plate :
" That the present state of things cannot be main-
tained ; that our situation in the Plata is onerous, undig-
nified, and cannot lead to any result ; that the treaty of
Admiral Le Predour contains clauses which cennot be
secepted ; that there is little hope of obtaining any mo-
dification of it by the pure and simple means of negoti-
ation; that the new arrangements will not contribute to
raise our moral authority, or our influence; that it is
necessary to decide on a plan of action, either to abandon
all or to replacelthe present:mode of intervention, the pay-
' ment of a subsidy, by a more efficacious and different
one; that it is for the Government to examine and decide
on such measures as are most comformable to the public
interests, and to present them to the Assembly.
[ La Patric announces that it is the intention of M.
Dirsams to convoke without delay the conseils gineraux
of agriculture, manufactures, and commerce. The-
last convocation of these councils took place at the
end of 1840, under the Ministry of M. CuNIN Gar-
DAINI.
The lioniteur of yesterday contains the decrees
appointing the several new ambassadors.
General CASTEL BAIAC is named Envoy Extra-
ordinary and Plenipotentiary at St. Petersburgh,
vice General LAMOBICIEBB ; M. DB LA COUR to the
same post at the Court of Vienna, in the room of M.
DE BBAUMONT. M. DE PERSIONT is appointed to
the same post at Berlin ; but being a member of the
Assembly, is described as such on an extraordinary
mission.
M. DB BASSANO hitherto Ambassador of Baden, is
appointed to the imbassy of Wurtemberg.
M. BERNARDO D'HABCOURT, Secretary of Legation
at Madrid, is appointed Ambassador at the Court of
Baden.
M. MARESCALCUI is apt ointed First Secretary of
Legation in London, and M. MONTMEROT Secretary
of Legation at Madrid.
The Toulonnaise of the 17th announces the de;
parture ofsteamera for Civita Vecchia to take troop:,

—some for Algeria and others for France—so as to
reduce the army of Italy to 20,000 men.
The Worme says—
The candldatu, te of the Prince de Joinville, at the
approaching elections is much talked of. This candi-
dature is to be proposed and patronised by a celebrated
journalist, who, independently of a large morning journal
(La Pr esse), publishes in the evening a small one (L'
Evenernent), in which he intends to advocate the claims
of the Prince."

The Three per Cents. were done yesterday in the
Passage de I'Opera at 91f. 70c.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE

LUNDO STOCK-EXCHANGE, DEV. 22.

Boulogne and Amiens, 7%—Namur and Liege, 676
Orleans and Bordeaux, 3% Central of France (Orleans
and Vierzon), 13 t 4— Luxembourg. 2 t/B—Northern of France,
13/ dis.—Paris and Rou n, 213,s —Rouen and Havre, 9

SPAIN.
Madrid journals of the 17th inst. have arrived.
The Guceta contains a notification that the interest
n the Three per Cents. falling due on the 31st inst.,
will be paid on the 241 January.
MADRID BOLSA, DEC. 17.—Three per Cents.,
30 13 16 account; Four per Cents., 12 paper; Five
per Cents., 12i; Coupons, 74 paper; Bank of St.
Ferdinand, 81 paper; Exchanga on London, 50 35.

G.ERMANY

AND

IHE NORTHERN STATES

AUSTRIA AND HUNGARY.

The Breslau) Gazette says that intelligence of a
very grave character was received at Vienna, on the
16th. In the Tyrol at Salzburgh, an obstinate con-
flict took place between the troops and the National
Guard, occasioned by the attempts of the former to
disarm the latter. The troops were repulsed.
In the Slovack country the agitation is constantly
on the increase, and the greatest animosity exists
against the newly instituted Gendarmerie.
The latest accounts from Vienna are to the 20th;
on which day intelligence was received of the out-
break of a military insurrection in Servia, in conse-
quence of the attempts Made to reduce the pay of the
troops. Several lives had been lost. It is said that the
Servians and Croats, having discovered how they have
been deceived by the Austrian Government, are en
deavouring to enter-into some arrangement with the
Magyars whom they had assisted Austria to crush ;
and the military outbreak in Servia will, it is said,
be the signal for the rising of the Czechs in Bohe-
mia. In. Italy also - an outbreak is expected, and
Austria, by sending 60,000 Ilonveds to be incorpo-
rated in the army of. RADETZKY, is obligingly for-
warding reinforcements to the Italian Liberals.
RADETZILT is, it is said, offended at the neglect with
which the army of Italy has been treated, while
honours have been showered in profusion on the army
of Hungary, which was invariably defeated, and which,
but for Russian assistance, would ere this have been
annihilated. "But for the victory of Custozza where
would Austria have been ?" asks RADETZILY ; but the
courtiers tell him that he only saved the empire, while
HATNAU saved the dynasty, and the EMPEROR iS of
course of much greater importance than the empire.

MONEY and COMMERCIAL NEWS
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool on &our(ley were
estimated it 8,000 bales, including 3,000 taken on spe-
culation. The sales comprised 6,000 American 600
Pernam and Maranham, at 61-1. to 6} 1,; 600 Billie, at
s*d. to qd.; 100 Egyptian, at 7d. to 71d.; and 600
Surat, at 4d. to 411 per lb. The market was rather
excited, and prices of American were nearly *A. per lb.
dearer.—Railway Shares were dull, at lower prices.
The Corn market is steady to day.
The steamer Dee has arrived from the West Indies,
but at the hour of our writing, her letters, &c., are net
in town. It appears that she has nearly two millions of
dollars in specie, including 65,998 for the dividends.
The outline of the intelligence makes us aware of the
continued determination of the Jamaica House of
Assembly to effect reductions of salaries, &c. The re-
ports of the crops are favourable from all the windward
islands as well as from Demerara, and at Havannah,
likewise, the prospects were good.
Cape of Good Hope accounts, of November 3, have
been received by the ship Essex. The transportation
q uestion still threw every other into the shade. The
criminal sessions, with a population of 30,000 persons,
were over in about four hours. Efforts were making to
resuscitate the Chamber of Commerce, which had almost
ceased to act.
The Hamburgh mad of Friday brings the quotation
for bills on London, at 13.9, being * lower. Not much
was doing. Money was still in request. Stocks were
firm, and coffee had again been very active.
From St. Petersburgh, under date of the 13th inst.,
we learn that owing to the want of snow, the inter-
course with the interior was difficult. Very little busi
ness was doing either in Russian products or imports.
The Antwerp letters advise several shipwrecks be-
tween that place and Dunkirk, and one or two English
vessels had suffered.
The quantity of sugar on the Ist December in first
hands, in Holland, Belgium, Hamburgh, Trieste, Havre,
and London, was 3,231,000 cwt., including all descrip-
tions, against 2,869,000 cwt. at the same date last year,
and the price of British West and East India Mascovado
is 265., against 225. in December, 1848. The stock of
coffee in the places named is 911,000 cwt., and on the
Ist of December, 1848, was 1,297,000 cwt. The price
of Jamaica is 425. to 505., and last December was 28s.
to 31s. per cwt.
The following are some particulars from Messrs.
Witherby and Hanson's report of the present state of
the dried fruit trade:—
" The clearances of currants of late for home can-
sumption at this port, and at Liverpool, have been nearly
the same as last year. At London, from the 20th ult.
to the 15th inst., they have reached 1,750 tons against
1,720 tons in 1848, and against 1.550 tons in 1847 (at
both which periods currants, particularly old fruit, were
cheaper than at present), and against 850 tons in 1846,
when the article was 20 per cent. dearer. At Liver-
pool the clearances of the four weeks, ending the 11th
inst., were 725 tons against the same quantity in 1848.
"The summary of our reports for currants since Sep-
tember amounts to this fact, that we have received as
yet 950 toes less of new fruit than to Christmas, 1848,
and that the clearances of the eleven last weeks have
been about 100 tons more than those of the correspond.
ing weeks of 1848. As the stock of old fruit was about
the same at the commencement of both seasons, the pre-
sent London stock will be found to be about 1,000
tons less than at the close of 1848.
"As regards raisins there is a deficit in onr importation
into London so far this season of 1,750 tons, snd a
deficit of 200 tons and 600 tons, as compared respec
tively with the two previous seasons. Of currants and
raisins together we have as yet received 2,700 tons
less than to the 21st December last season. The ar-
rivals of Valentias at Liverpool have not been far short
of those of 1848 season.
" There has been since our last more animation and
excitement in Valentias than has been expe-
rienced for some years past, and the price ad-
vanced from 465. to 48s. before the end of
November. It has since gone back to 475., at which
there are sellers, but no purchasers to any extent. The
arrivals of Turkey fruit have been limited to boxes.
Elemes are held at present quotations. Muscatels con-
tinue scarce, and are likely to be so through the season,
with high prices. Black Smyrna Raisins are held at
365.
" It is needless to remark, with a large diminution in
the supply of Valentia Raisins, and, as we confidently
affirmed two months ago wculd be the case, a moderate
direct supply of Turkey fruit, and with but little falling
off in our clearances, the stock of Raisins in the port of
London is very different from that at the close of 1848,
when of Valentias alone the stock at the wharfs was
1,600 tons. There is, therefore, both as regards raisins
and currants, ample room for any supply which might
possibly reach us in consequence of the alteration in our
navigation lawss, which will come into force on the Ist
January next."
The English Stock Market is very quiet, and the
paucity of business prevents either fluctuation or elas-
ticity, and may be expected to continue throughout the
week. Consols have been 96 to 96* i; the New Three-
and-a Quarter par Cents. 97* i; and the Three per
Cents. 96 to je Bank Steck is firm at 202} to 203 k.
Exchequer-bills have been 555. to 58s; and India Bonds
88s. premium.
In the Foreign Market also there is decided flatness,
and from the same causes. Spanish Fire per Cents.
have been 18i and Portuguese Four per Cents. 361.
Equador Bonds are 3i, and Peruvian have been 54i.
Stexican Stock is 28i to 28k. Danish Five per Cents.
have been done at par, and Dutch Four per Cents. at 80
to 85.
In Railway Shares there is very little doing, and they
have not sastaieci any particular changes.
Certain holders of the Canal or Preference North
Stafford Shares have, by circular, announced a meeting
to be held at Stafford, on the 24th instant, "for the
purpose of taking into consideration an opinion given by
comae), which will be laid before the meeting in favour
of their c'aim to the full dividend, as stated in the
last half-yearly report of the directors to be then pay-
able; and of deciding whether any, and if any, what
steps shall be taken with a view, to obtain the full
dividend."

tiIi,ITISH FUNDS THIN DAY AT ONE O'CLOCE
(From the Official List.)

Bank Stock 202% 203%
3 per Cent. Reduced Annuities
New 314 per Cent. Anas. 971/234
..ong Annuitiem, Exp..] an. sth, MO Bl/2 8 9-16
India Bonds under 1.0001..
Uonsols for Account ...
4achoquer 13i11s. 1 qd. 2d.
March. June.
55 58 p
i 5 58
55 58 p

,060/.
5001.

Small

RICE OF FOREIGN FUNDS AT ONE O'CLOCE.
Cuba; 6 per Cent 9B
Dan.sh Bonds 1825, 3 per Cent —
Ditto, 5 per Cent
Equador Bonds 33/4
Mexican 80ni5,1846, 5 per Cent., Coupons
Ditto Ex Jan. Coupons
Ditto Account
Peruvian Bonds, 4 per Cent —
Ditto for the Account 51%
Portuguese Bonds, 5 per Cent
Ditto 4 per Cent.
Spanish Bonds, 5 per Cent,lß4o
Ditto Account .
Ditto Passive Bonds 4
Dividends on the above payable in London.
Dutch 2% per Cent., 12 Guild
Ditto 4 per Cent. Certificates
BUSINESS DONE IN RAILWAY SHARES AT ONB O'CLOCK
RAILWAYS. PAID. PER SHARE.
berdeen
Ditto, Preference .. .... ..... 8i
..eibtr., Notting., Boston, &c. 6 % —. ..„ . to
- yrshire and Galloway
'.4lfast and County Down .. 28
3erks and Hants Extension
(Gt. West. Perpet. 5 per ct.) 6
sirmingnam & OxfordJunct.,
calls duly pd, or with guar. 20
Do., without a guarantee... 20 ...
.3irmingham,Wol.,& Dudley,
calls duly pd, or with guar. 10 .....
Do., without a guarantee... 10
3irming., WOl., & Stour Val. 131.14 s —
Ftirkenhead, Lancashire, and
Cheshire Junction 20
dristol and Exeter
Do., Thirds ...... ... ..... ... 28i
3uckinghamshire..• 17% to
Jaledonian

•• •• -,...

Ditto, New 101. Preference 10 73‘; V... to -
Ditto. Clydesdale Junction 50 -
„tester and Holyhead... 5O ..... 113/4 to -
Ditto, Preference - to -
'larence. - •••••• to
Do., let Class, 6 per Cent... 10 - • ... to -
D0.,2d Class, 5 per Cent... 10 - to -
Do., Gov. Loan, 4 per Cent. 10 ...... - to -
Direct London & Portsmouth 5% - to --
Dublin and Belfast Junction.. 40 -
Dundalk and Enniskillen ... 271 - to
East Anglia, 25/. L. & E.,
sad L. & D 25 - ••. • • to ....
Ditto, 18/., E. & H lB ... .. -. -
Do, 31. 10x.,6 p. Ct. Pref. 3% -, -
Do, 71. 175., 7 per Ct. Pref. 2 -
to
Eastern Counties .... 2O -
Do. New Guarant. 6 per Ct. 10 - -
Do. Eaten., 5 per ct. No. 1,6/. 13s. 4d .. - p to -
Do., d 0....... ......... N 0.2,61. 13s. 4d... - .. -
Do., Northern & Eastern... 50 - to -
Do., 5 per cont. - ...... to -
Ditto, New ...- ..... - 43 . .... - „.... to -
Eastern Union, Class A (late
E. U. Shares) ... - 25 - •••••• to -
Ditto, ditto, Class A, ditto 6 . -- -
Ditto, do, Class B& C 25 ...... - -
Ditto Scrip (gua. 6 per ct.) 20 - .., •• to -
e.ast Lancashire .... - •••••• to -
Ditto, New ... .......... ...• . 25 - to -
Do., New Quarters -
Do., 6 per Cent. Preference
Quarter Shares -
East Lincolnshire 25 - ..... to •--
-.(linburgh and Glasgow 5O
Ditto, Half Shares
s;dinhurgla and Northern ... 25 ...... - -
Ditto, New p0rt..... l5 - •••••• to •-•
Exeter, Yeovil, & Dorchester 2% - ..... to -
Exeter and Exmouth 2ls. - ... .. to -
4iasg., Dumfries, & Carlisle-8/. 63.8 d - .. .... to -
flasgow, Kilmarnock, & Ayr 50 - to -
Do. Preference Consolidated -.-. - to -.
Gloucester and Dean Forest.. 11
Great Northern
Do. % A Deferred ..... ... 12% 314 to .....
Do. 14 B 6 per Cent. -
Do., 5 per Cent. Pref....... 10 . - • ••• to -
'3t. South. & West. (Ireland) 50 - ...... to -
3reat North of England 100 ...... - . .... to -
Ditto, New 40/..... ..... .. 4O - ..... .to -
Ditto, ditto ....
Ditto, New 301 ... 80 ... .. - -
Ditto, New 151.......... ..... 15 •••••• - .
.Ireat Western ............. . .... 100 ...... 5714 to 58
Ditto, Half Shares . .'. ......... 52 - to -
Ditto, Quarter §hares