The Sun.
London, England, 1849-12-29 00:00:00

EVENING, DECEMBER 29, .849

upon a farm." He does "not undertake to make a
general and indiscriminate abatement of rent, but
aided by good advice, will consider the special case
of each farm, and the circumstances under which it
was entered upon; and in the instances in which he
shall be satisfied that there is a fair claim for an
abatement of rent, he will make it with much greater
pleasure in favour of an old and improving tenant
than in favour of a stranger."
But Sir ROBERT PEEL is not satisfied with making
these fair and encouraging promises, he does not post-
pone to a future time the assistance which he feels
bound to render to his tenantry. He is ready at
once to co-operate with them " in preparing to meet,
not foreign competition only, but that competition
with domestic skill and capital which will be at least
as formidable to those farmers who are insensible to
the rapid progress of agricultural improvement and
neglect to keep pace with it."
He proposes, then, in the case of all tenants of
more than ten acres of land who shall, on or before
the Ist of February next, pay the Michaelmas rent
and discharge any former arrears, "to set apart 20
per cent. of the last half-year's rent, and to apply the
amount forthwith under the general direction of his
agent, but in concert with the tenant, in such improve-
ments as may be most beneficial to the farm."
He " will give a preference to drainage, the
removal of unnecessary fences, and the means of
preventing the waste of manure ; on this expenditure
no return will be required from the tenants. The
same course will be taken with regard to the half
year's rent, which will be due at Lady-day." If
additional drainage should be requisite he will " exe.
cute the work, the tenant drawing the materials and
paying four per cent. on the outlay, and will consider
favourably any proposals that may be made
for effecting other permanent improvements.
In cases of longer duration than a year he will con-
sent to ,release the tenant from his engagements on
his giving the same notice that would be required in
the case of yearly tenancies. And to any who are
desirous of improving their farms, and wish for the
additional security of a lease, it will be granted if the
skill and capital of the tenant be considered satisfac-
tory, or a written agreement will be entered into,
stipulating for reimbursement on account of inex-
hausted improvements."

Such are the proposals of Sir ROBERT PEEL to his
tenantry, and it cannot be denied that they are emi-
nently fair and just. 'We trust that the example will
be widely followed. To English landlords, to all who
are inclined to act equitably towards those who are
connected with them in such a relationship, we would
emphatically say, " Go ye and do likewise," and you
will have a happy, and contented, and prosperous
tenantry, able to encounter any competition, home
or foreign, to which they may be disposed.
In our notice of yesterday we chiefly alluded to the
political bearing of this letter, as showing how vain
and unfounded are the empty imaginings of the Pro-
tectionists, who fondly hope that the Legislature P. nd
the country may again be deluded, as in former times,
with the idea that British agriculture cannot flourish
unless guarded and hemmed round with a,variety of re-
strictions. This day we have commentedion the goodly
example shown by one who formerly occupied the
high position of first Minister of the Crown of this
mighty empire. He has by this addreks afforded the
most powerful testimony that he is fully aware of the
"duties" as well as of the "rights" incidental to the
possession of property, and that he is as ready to dis-
charge the former as to enforce the latter. His pro-
posals will form an admirable topic to be introduced
at the various agricultural meetings that may still
take place previous to the meeting of Parliament, and
constitute an admirable answer to the vague and
empty declamations of those landlords who may en•
deavour to show that the recent legislation can only
affect the tenant-farmers, and that their own class
should pass scatheless through the ordeal.

THE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.
The National Assembly on Thursday passed, by a
majority of 321 to 263, the Bill for the reorganiza-
tion of the Garde Mobile. They are to be reor-
ganized as a French battalion of Chasseurs. The
Minister at War proposes to give to the new corps
the title of Chasseurs of Algiers, the Committee that
of Chasseurs of Paris.

The Minister of Public Works is to attend on
Monday before the Committee on the Paris and
Avignon Railway Bill.
The Patric contains the following :
" If we are well informed, the Minister of Public
Works has submitted to the Council of Ministers a Bill
rdative to the railway companies, who are applying for
a prolongation of the time fixed for their privileges. A
general law will, it is said, grant to all these companies,
without distinction or preference, concessions for 99
years, in exchange for a sum to be paid by each to the
state, and which shall be fixed in proportion to the im-
portance of the capital of the company, and the number
of years, to be added to its present concession. The
sum to be demanded from the companies will be the six•
hundredth or the five-hundredth on the capital for each
year of the prolongation of its concession. The compa-
❑ies in question are six in number, viz., the Northern,
Strasburg, Bordeaux, Nantes, Vierzon, and Marseilles.
The amount of the sums they will have to pay to the
State, if all accept the conditions, will be 45 millions or
54 millions, according to the bases which may be adopted.
The following is the detail:—

Sums to be paid to the State
Capital of Length of according to basis
Companies. Companies. Concession. of 1-600. of 1-500.
Northern...l6o,ooo,ooo 33 yrs. 16,266,626 19,520,000
Strasburg..l2s,ooo,ooo 44 yrs. 11,458,815 13,750,000
Bordeaux.. 65,000,000 28 yrs. 7,691,643 9,230,000
Nantes .... 40,000,060 31 yrs. 4,333,290 5,200,000
Vierzon 33,000,000 40 yrs. 3,245,000 3,933,294
Marseilles., 20,000,000 33 yrs. 2,199,996 2,640,000

Total 45,194,870 54,273,294
It is added that up to this time there is such a great
difference between the demands of M. Bineau and the
offers of the directors of three of the lines, that it
may be considered probable that the Minister will come
down to the fraction of a seven-hundredth, in order to
secure the adherence of the companies to the con-
ditions of the Bill ; this seven-hundredth part would
put to the charge of the companies and produce to the
State as follows :
Northern 7„.
Strasburg •••
Bordeaux
Nantes •••
Vierzin
Marseilles ...

... 13 942,831 f.
••• 9,821,405 f.
... 6,592,847 f.
... 3,714,282 f.
... 2,781,425 f.
. . 1,885,712 f.

Total 38,738,502 f.
In order to fulfil their engagement, the companies will
be authorised to issue to the amount in bonds, the in-
terest of which are at 5 per cent., and the sinking fund
will be guaranteed by the State, and paid out of the net
produce of the lines before any dividend is allotted to
the shareholders. Immediately after the passing of this
Bill the Minister of Public Works will present to the
Legislative Assembly special Bills either by special
motives to improve the situation of some companies, or
to concede branch lines to several who propose to the
Government to execute them on their own account,
under the sole condition of a prolongation of their grant
to ninety-nine years. In this case grants of money may
be made them by the State. We know not how far the
account of these negotiations between the Minister and
the companies is well founded, but we must admit that
at the first view such bases would constitute for the
benefit of the companies conditions at least exorbitant;
and we shall, therefore, reserve to ourselves to watch and
examine the project."

The River Plate question was to come on for dis-
cussion in the Assembly oh Thursday, and several of
the journals urge the Government not to ratify the
treaty made with RosAs by Admiral Ls PREDOUIt, but
to fit out an expedition against the Argentine Re-
public, The Presse, however, continues to protest
against any expedition being sent to the aid of the
Oriental Republic, and can see no reason for not
ratifying the treaty entered into by Admiral
L'AFDova.

The Journal des D4ats also advocates the ratifica-
tion of the treaty: It Says=
" Since the treAty signed f,he Dth October, 1846, uy
Admiral Mackau, and which has been faithfully exe-
cuted by Roses, we have not had any direct quarrel with
the Argentine Republic. The actual cause of differenne
arises solely from the supp9rt,*hlbh *b gife td tfie
Ali -
risen of Monte Video, and also froth the alliance, offen-
sive and defensive, existing between ROB4B and Oribe.
For sake of establishing peao We hive never dtithanded
other than to maintain the independence of -Uruguay;
while the claim of Rosas has been to withdraw this
province from the preponderating influence of foreigners.
Nothing more, then, is necessary than that intervention
should cease on the one side as well as on the other.
Rosas never has ceased to so propose, and Admiral Pre-
dour has accepted the principle of the treaty, whose
rejection or sanction will be implied in the division on
the credit now demanded."

Intelligence from Martinique and Guadaloupe have
arrived to the end of November. In the former
colony the elections at Fort-de-France have been
altogether in favour of order and conciliation, the list
of the Conservative party having been elected by a
large majority. A scene of disorder was attempted
on the occasion of a banquet offered to M. BISSETTB,
hut it was promptly put down. It appears to have
been got up by the democratic party, who detest that
gentleman. M. BRUAT, tl a governor of Martinique,
pasted the troops of the garrison in review, and after-
wards gave a grand dinner to the civil and military
authorities. During this banquet the ultra party of St.

Pierre assembled under the windows shouting out
"Five le Gouverneur !" The mayor of St. Pierre
and the head of the staff, hastened to put an end to
this compromising ovation. The Courrier de la
Martinique, the journal of the moderate party, has
been cited before the tribunals for attacks made against
Al. BRUAT. At Guadaloupe all was quiet ; the
Governor, M. FABRB, distributed at a public ceremony,
a number of decorations and recompenses to the per-
sons who had distinguished themselves in putting down
the late revolt.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, DEC. 28.

Boulogne and Amiens, 73/4—Central of France (Orleans
and Vierzon), 13,4—Dutch Rhenish, l 14—Orleans
.and
Bourdeaux, 3% Paris and Rouen, 221, Rouen and
Havre, 91A.

SPAIN.

Madrid journals of the 21st hare arrived.
_ _

It is stated in some of them that, if nothing of a
painful nature should occur in the QUEEN'S health
her interesting position will be officially announced
on the 14th of January next.
A Madrid letter of the 21st states that in the
Chamber of Deputies on that day M. SANCHEZ SILVA
made a violent attack on the Minister of the Interior,
M. SARTORIOUS, for influencing the elections so as
to fill the Chamber with his own creatures. To this
the Minister warmly replied, and concluded by cha-
racterising the assertions of M. SLLVA as calumnious,
and declaring that he would not dare to repeat them
elsewhere. This caused an explosion of murmurs,
and the Minister proceeded to give explanations, which
he had not concluded when the post closed. It was
feared that a duel between him and M. SILVA would
be inevitable.

The directors of the Aranjuez Railway Company
have made a call upon the shareholders to pay up the
remaining instalments on their shares, the last instal-
ment being due on the 10th of April next. The
works are to be proceeded with immediately.
MADRID BOLSA, DEC. 21.—The funds have
maintained yesterday's prices. The Three per Cents.
e ere done at 30k, and 916 cash, and were 7 1-16
buyers, and 7-16 sellers at the close ; Five per Cents.
were done at 13, and were 12k, / buyers at the
close; Coupons were done at 8, and were 7i buyers
at the close ; Passive Debt, 3 15.16 buyers, 4 sellers.
Exchange on London, 50 50.

GERMANY

AND

THE NORTHERN STATES.

BAVARIA.

Before adjourning for the vacation, the First
Chamber of Bavaria adopted the amnesty as sent up
from the Chamber of Deputies. On two previous
occasions it had refused to do so, and it was feared
that a serious conflict would arise between the two
Chambers ; but, on the recommendation of the
Ministry, the First Chamber yielded.
The Augsburg Gazette declares that there is no
truth in the statement recently made, of Bavaria
Laving adhered to the protest of Austria against the
convocation of the German Parliament.

MONEY and COMMERCIAL NEV....:.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool, yesterday, were
estimated at 10,000 bales. The market closed very firm.
—Railway Shares continued to decline in value, and the
market closed very heavy.
The anticipation which we formed that the Bank of
England would have over seventeen millions sterling in
its coffers before another week elapsed, has proved cor-
rect; the weekly statement to the 22d instant, now before
us, showing rather more than that sum. Next Saturday
we shall doubtless have to record a further addition.
The active circulation, on the other hand, does not ex-
perience any addition, and a slight iucrtase of advances
upon other securities, &c., seems to have bee❑ provided
for by the extra amount of public deposits, which now
stand very high, though soon to be reduced by the usual
periodical payments. Compared with the previous week,
the following changes have occurred :
Notes Issued ... - 30,254,630
Increase ... 147,170
... 3,114,159
... 2,567
... 10,263,704
... 733,718
... 9,488,580
440,285
1,069,234

Rest
Increase
Public Deposits
Increase ...
Other Deposits ...
Decrease ...
Seven Day and other Bills
Increase ...
Government Securities
Other Securities ...
Increase ... ...

.. No alteration.
.. 10,860,565
.• 57,147
Notes ... 12,481,220
Increase . . 296,660
Bullion ... 17,080,642
Increase ... 89,351
Active Circulation ... 17,803,410
Decrease ... 149,490
The Foreign Exchanges were yesterday afternoon
negotiated on the principal Continental cities at firm
rates. Paper at 90 days was taken on Antwerp at 25
671 to 72k, on Paris at 25 65 70, on Hamburgh at 13 12
to 12k, on Trieste at 11 30 to 35, on Amsterdam at 12
21 to, and on Frankfort at 1214 to 122.
The amount of bullion exported from London this
week is 198,825 ounces, all in silver, and principally to
Dunkirk and Holland.
The accounts received this morning from the manu-
facturing districts are of a very cheerful character. At
Leeds, Manchester, Halifax, &c., an excellent business
is doing, and much more than usual during the Christ-
mas week.
There has been a very flat market again for Public
Securities, arising from continued sales, which are still
attributed to the Scotch banks. It would be most pleas-
ing to learn that the extra requirements of trade were,
as we have no doubt they are, the motive of these sales.
Consols have been 964, then 95i, and aro now 96 to
Th. New Three and-a Qtarter per Cents. have realised
971 to -a, and the Three per Cents. Reduced 96i to 94.
Long Annuities are Bi. Exchequer-bills are 59 to GO;
and India Bonds, 88 to 90 premium.
The foreign market is affected by the decline in Con-
sols. Spanish Five per Cents. have receded to 19 and
18-a, and the Three per Cents. to 34. Mexican have
been 294- to Equador are 3i 4, Brazilian 88k, and
Portuguese Poor per Cents. 36. Dutch Twe-and.a-
Half per Cents. have been 56i. Peruvian have risen to
551 and 56.
There is no improvement in Railway Shares. On the
contrary, they ere all lower.
BRITISH FUNDS DAY AT ONE O'CLOCK.
(From the Official List.)
3 per Cent. Reduced Annuities
New 514 per Cent. Amts. 97%3/4%
i.ong Annuities, Exp. Jan. sth, 1860 131,i
India Stock
Do. Bonds, 10001 £B p
Ditto under 1.000/
Consols for Account ... 96% 95%
-eitchsquer Bills. 11,4 d. 2d.
March. June.
-.•• 60 59p
58 p

t,i)( )1.
mall

RICE OF FOREIGN FUNDS AT ONE O'CLOCK
Brazilian Bonds, 5 per Cent BBl/2
Equador Bonds 3%34
Aexican 80ni5,18.16, 5 per Cent., Coupons
Ditto Ex Jan. Coupons
Ditto Account
Peruvian Bonds, 4 pei Cent 56 551/2
Ditto Deferred . 1814
Portuguese Bonds, 5 per Cent
Ditto 4 per Cent.
Spanish Bonds, 5 per Cent,l840
Ditto Account . ......
Spanish Bonds, 3 per Cent 38%
Dividends on the above payable in London.
Dutch 21/2 per Cent., 12 Guild

BUSINESS DONE IN RAILWAY SHARES AT ONA O'CLOCK
RAlLwayd. PAID. PER Masan.

berdoen
Ditto, Preference B* ...... dis.... to
nibtr., Notting., Boston, &e 6344 IA .... • to --
kyrshire and Gallaway
klfast and County Down .. 28 .. ..
3erks and Hants Extension
(Gt. West. Perpet.s per ct.) 6
4rrningham & OxfordJ unct.,
calls duly pd, or with guar. 20
Do., without a guarantee... 20 ...
iirmingham,Wol.,& Dudley,
calls duly pd, or with guar. 10 ... . -
Do., without a guarantee... 10
3irnsing., Wol., & Stour Val. 13/.140 — -
:.iirkenhead, Lancashire. and
Choshir. Junction 2O
Bristol and Exeter
D0., Thirds
3uckingharnshire.. — 171,E —

'aledonian
Ditto, New 101. Preference 10 ...... 7%14% to
Ditto, Clydesdale Junction 50
;hester and Holyhvad 5O ..... ..... . to
Ditto, Preference
larence.
Do., Ist Class, 6 per Cent... 10
Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 par Cent. 10
Jirect London & Portsmouth 514 — to
Dublin and Belfast Junction.. 40
Dundalk and Enniskillen ... 27% ......
',,,ast Anglia, 251. L. & L,
exci L. & D . ,
Ditto, 18/., E. &LI lB ... ..

Do, 31. 08,6 p. Ct. Pref. 3%......
Do, 71. 175., 7 par Ct. Pref. 2
Eastern Counties .....
Do. New Guarant. 6per Ct. 10
Do. Eaten., 5 per ct. No. 1,6/.13e. 4d .. 3/4 pto
Do., do N 0.2,6/. 138. 4d... par ..... to
Do., Northern & Eastern... 50
Do., 5 per cent.
Ditto, Now ..— ..... .. 43 . .... ...... to
Eastern Union, Class A (late
E. U. Shares) ... .. 25
Ditto, ditto, Class A, ditto 6
Ditto, do, Class B& C 25 ......
Ditto Scrip (gua. 6 per ct.) 20
,:ast Lancashire ....
Ditto, New ..
Do., New Quarters
Do., 6 per Cent. Preference
Quarter Shares
East Lincolnshire ......... ..... 25
H:clinburgh and Glasgow 5O
Ditto, Half Shares • 25 .....
dinburgh and Northern ... 25 ......
Ditto, New p0rt..... l5
xeter, Yeovil, & Dorchester 2% — ..... to
Exeter and Exm0uth.......,. 21s.
..itasg., Dumfries, & Carlisle..Bl. 6s.Bd — .. —. to
3dasgow, Kilmarnock, & Ayr 50 — to
Do. Preference Consolidated ..... .. to
Gloucester and Dean Forest.. 11
iireat Nertbern ... .
Do. % A Deferred ..... ... 12%
per Do. %B 6 Cent.
- -- -7%

..
Do., 5 per Cent. Pref.
10 7%..... to
at. South. & West. (Ireland) 50 — to
great North of England 100
Ditto, New 404.... ..... .. .. 40
Ditto, ditto ....
Ditto, New 30/. 3O ...
Ditto, New 151...... ... ...... 15 ...... ,
reat Western 100 57% to 57
Ditto, Half Shares
Ditto, Quarter Shares 23 ...... 103/4 to
Ditto, Fifths
Do. New 171
dull and Selby 5O -
Ditto, Half Shares .. ...... 25
Ditto,Quarter Shares . 12% — .....„ to
...ancestor and Carlisle.... ... 50
Do., Thirds
Lancashire and Yorkshire ...100 ..... ...... to
Ditto, ditto -
Ditto Half Shares .... 49
Ditto Quarters 23% to
Ditto Fifths lO .... . .... to
Ditte. Thirds 16%. ..... ...... to
_

Do., New Guar. 6 per cent. 10— 12% to
Do. (Rudders. and Shall) 50 -. ..... to
Do., West Riding Union... 10 ....
Do., Preston and Wyre ... 25 ......
Do., do,, half Shares (A) 10
Leeds and Bradford 5O .....100 ...... to
Leeds and Thirsk so_ - ...... to

—a ana _..... ......_
Do. ,do.,Prefer,, f. per Cent. 3%.....
Ditto, ditto...
Ditto, ditto ..... ... No: 3 0 - ...... to
Do. Pref. Quarters, 184 e... 9
Liverpool. Crosby, andSeuth-
port.,
London & 1i1uckwa11..,...11/. 6s, Dd — ...... to
Lend., Bright.,& South Coastloo ..... ...... to •-•
Do., New 5/., gua. 6pr Ct.loo
Do. Guaronteeds per Cent. 9 .
Da. Preferential, 5 per Ct., 50
Ditto, ditto 1852 50 .....
London =4 Orletwicho.. 121.15 a. 4d...
Ditto Preference 29
London & North Western.....loo 11714 108% to 10714
Do. New Quarters.
12

DO. Fifths— 7 ..... 7
to -...
ro. 40g. Shares... „L. & M 85 ......
Do. 10/.... M. and B. (C.) 1
London and S. Western .......100
Ditto, New 501........ .. ..... 42%......
Ditto, New 401 O4 . — to
Do., New Scrip, 1848, Pref
7 per Cent ... 5 .... 65,i to ...-
Londonderry and Coleraine... 25
Do, nay Shares . ..... 5
Londonderry ::^d Bnniskilien 25 —
Do.,llalf Shares
ewesteiT, guar. 4 rer et 20
Ditto (guar. 6 per cent. ... 13
U=6 Buxton, & Matlock 5
danchr, Sheffield, and Linc.100
Ditto IA Shares (No. 1) ... 25 ...... to
Ditto, ditto (No. 2) 25
Ditto, % Shares (No. 3)... 121,4 ......
Do., New 10/. Preference.. 10 .....
Ditto, Grimsby & Sheffield 50
Ditto, ditto. ............ ...... 20
Ditto, ditto
Ditto Sheffield and Line. 25
Ditto, Grimsby Dock ...... 25 ......
Ditto, Man. & Lin. Union 41. 25....
Mid1and......., .... ........ —IOO
Ditto, Coruol. Preference...loo
Ditto, 5.:,!. Shares ...,. ...... 30
dicliaid, l3irrn., and Derby...100 ...
"Midland, Consul. Bristol and
Birmingham, 6 per c0nt....100 123% to 7-