The Sun.
London, England, 1840-02-18 00:00:00

TO THE EDI7'OI? OF THE SUN.

SlR—Your persevering exertions to expose the evils of
the present system of Corn-laws, induce me to communi-
cate a plan to you which I think will greatly promote the
object you so much desire.

The chief obstacle to a universal support of free trade in
corn arises from the apprehersions of the farmers holding
leases, and being bound to pay certain rents, that the re-
duction in prices effected by the repeal of the Corn-laws
would be their ruin.

Could the farmers be disabused upon this subject this
obstacle would be removed. I think a single proposition
honestly made and honestly acted upon, would disabuse
them.

The great object of the manufacturers is to prevent the
application of foreign capital to the creation of goods
hitherto made and sold by Great Britain, and to continue
to this country the reputation and the reality of being, as
the late 111 r. Rothschild called her.
"THE WORKSHOP OP THE WORLD."
The manufacturer believes and asserts that the repeal
of the Corn-laws would raise the price of corn abroad,
without very considerably lowering it in England, and
thereby in another way prevent the employment of lab Dur
in foreign manufactures.

Such being the state of the case, I propose that the or-
gans of free trade in the House of Commons, such as Mr.
C. Villiers, or Mr. J. flume, offer, on the part of that great
interest for which they act, to support a motion to indemnify
or compensate all farmers holding leases, to the amount
of their losses, arising from any difference in the price of
corn, which the repeal of the Corn-laws may occasion ;
taking the average of the last seven years as governing the
price of the next seven years.
Enlightened economists know that this difference will
be very small—Statesmen know that they have a prece-
dent for such a plan in the twenty millions voted to the
West India slave proprietors—and the good and the just of
all parties recognize the maxim of Montesquieu, " that it is
better for a State that ninety-nine guilty men escape than
that one innocent suffer." No farmer under covenants
w, uld or couli suffer with an arrangement such as this.
At present four times as much is lost by the consumers
as is gained by the landowners, besides the gradual depar-
ture of our manufacturing ascendancy. Surely it would
be worth while to give a small amount of annual compensa-
tion to retain and restore our manufactures, and save at least
four times the amount to the great body of consumers.
To the agriculturists, to induce them to consent to this
plan, I would say—" Mirk the signs of the times. So-
ciety is becoming disorgania ; your chief leaders are
alarmed, and have ceased to insist upon the necessity of
continuing the present fluctuating duty ; farther resistance
will speedily become fruitless, and only tear more leaves
out of the sybil's book.' Be wise in time, and, by
saving the manufactures of your country, preserve your
best customers—the manufacturers."
I have the honour to be, Sir,
Yours faithfully,
NV. S. N.

Parliament-street, Feb. 18.

THE MARKETS.-(THIS DAY.)
• TEA SALE.—(SECOND DAY )
There was a very considerable attendance, but not a great
number of buyers. The importers would not sell at lower
price& ; therefore the value of the conanotiity is the same. No
character can be regarded as yet established for the sale, but
the holding of of the buyers is not expected to last long.
HAY MARKET.
Only mcderate supplies, but equal to the demand—prices
stationary. Hay 60s. to 935. ; Clover 70,3. to 115 s. ; Straw
325. to 40s. per load.

PROVISION MARKET.
A steady trade, without variation in value. Irish Bacon
447. to 48s. ; and Butter 86s. to 925.
BILLINGSGATE.
The supplies were good, and prices lower; trade brisk. Tur-
-I,ot, ss. to 235. ; Cod, 2s 6d. to 100 ; Soles, 6d. to 3s. 6d.
per pair; Lobsters, 6d. to 3s. ; salmon, 2s. 6d. to 3s. per lb. ;
Whitings, 4d. to Bd. ; and Haddocks, 61 to 2s.
COLONIAL MARKET.
British Plantation Sugar sold slowly at 575. to 695; 4,600
bags of Bengal, sold at public sale at aboht their former value;
the same may be said of 5,400 bags of Ilaurizitts sugar.
The public Sales of Coffee were of small dimensions.
360 bags Ceylon, 435 bags of Java, 50 of Berbiee, and 100 of
East India. Ceylon certificated at 108 s. to 112 s. B. P. low
middling and middling 112 s. to 122,. 2,000 bags Bengal Bice
did not fetch quite so much money. Saltpetre firm at 235. 6d.
to 275. 63. Ginger and Pimento are steady, and sold in small
parcels. The Colonial market generally is flat, still prices for
the must part maintain their position. The imports continue

MONEY and COMMERCIIL NEWS.

CITY TWELVE O'CLOCK.
LIVERPOOL COTTON MARKET, MONDAY.—The sales
amount to 5,000 bags, at steady prices-1,000 taken for
export.
We have a very blank morning for arrivals only the
ordinary French mail and ship letters from Africa. The
contents of the former are of little value, and will be found
in another part of the piper.
In the absence of inselligenee from all quarters of any
consequence, the speculators in the various Funds arc at a
great loss how to act.

Both the British and Foreign markets continue in the
same state as they left off yesterday. Consols opened at
the same quotations as they closed at, sof i for the Ac-
count ; Money same ; Exchequer Bills 7 9 prem. ; India
Bonds, 1 dis. 1 prcm. ; Bank Stock 174 178} ; India
Stock 247 k 2481.
In the Foreign market, Spanish Active 261 27 ; Por-
tuguese 331 ; Columbian 25k ; Brazilian 78k ;
Mexican 291 ; Spanish Passive 6i 71; ; Deferred 12i
13i ; Dutch Tw•o-and-a-Half per Cents. 52f s ; Pao
per Cents. 101* f.

PRICES OF STOCKS 'MI'S
Bank Stock l7B %
3 per Cent. Red. 9004%,
S per Cents. Con 9 A % i
314 per Cent 19:4%1
Ditto Red, 11)10‘94,
New 3Y4 per Cent............. 93% h
New 5 per Cent. --
Bank Long Annuities toexpire
Jan; 5, ISM) 13 15-16
Oct. 10, 1850 13 13-10%
J:n. 5, IWO --
Jan. 5, 1881)
April 5, 11380 —
Jan. 5.1870 ---
PRICES Oe' SHARES THIS

DAY AT ONE O'CLOCIr.
India Stock
Ditto Bonds;
South Sea Stock
Old Annuities
New Ditto
3 per Cent. Annuities. 1731
Exch. Bills, £1,000—... fi Bpm
Ditto SOO .... 6 8 pm.
Ditto Small 6 S pin.
Ditto Commercial
Ditto Advertised
Bank Stock for Account ...
India Stock for Account .. —.-
Consos for Account 903i%
DAY AT ONE O'ci.O K.
Paid. Per Share.
Real del Monte Mining Co., Registered 61/.los. 64. '—
Ditto Registered
71. tf
Brighton tt.tilway
North Midland Railway Company. 93 8634 7
Ditto New
fork and North Midland Reilwsy
General Steam Navigation Company .....
lIALF-PAST ONE.
Previous to the putting up the first lot at the Tea sale yes-
terday, a question was asked by Mr. Styan, whether the tea by
the Marmion and. Eucles, recently aeAved, were under stop-
page, or whether the tea brought by these vessels would be
admitted. Mr. Watkins, in answer, stated that he could not
co.nmunicate anything official, but understood from good autho-
rity, that the tea was under stoppage.
it is Stated that an application presented to the Treasury by
Franks, Williams, and (:e., has :been referred by the Board of
Trade to the Customs on the subject, and the Commissioners'
Report thereon was sent to the Board of Trade on Saturday
morning. The question, therefore, now remains for the deci-
sion of the Privy Council.
Conoils continue much the same as in the early part of tho
morning, at 904 j. both for Money and Time, with little
doing at the present hour. Exchequer Bills rather lower, 63
prem ; Bank Stock also lower, 178 i. In India Bonds and
India Stock nothing doing.
In the Foreign Market, Spanish Active 263/4 27 ; Portu-
guese nothing done, waiting; the arrival of the Lisbon
snail ; Colombian 251 A ; Brazilian, 78% ; Dutch Two-
and-a. Half per Cents 5-234-; five per Cents. 1001% %.
The above market has ben rather inactive during the
morning.

- CLOSING PRICES.
- finiTisfi FUNDS
Bank Stock ... 1784 India Stack 218
3 per Cent. Red 91% Ditto Bonds 1
3 per Cent Cr.iig 90% , Ditto Old Annuities —
3L.4 per Cent Red 99% Ditto New Annuities
New 3% per Cent 98% 'Ex. Bills, 1,000/ 9cl 8 pm.
New 5 ner Cent Ditto 5001 Bpm
Long Annuities to expire Ditto Small
8 pm.
Jan. 1861
Oct. 1359
Jan 1360
FOREIGN FUNDS
Austrian, 5 per cent — Portuguese Bon.ls,sper cent.
Ba!elan, 5 per cent Ditto, New Ditto
China!), 6 per-cent — Ditto, Metallic —
Colomban, 6 per cent 23%lSpanish, 5 per cent
•• Ditto, Deferred
Danish. 3 per, ent. ........ ...... French, 5 per cent. —r. —c.
Greek Bonds, 182.1, 5 par ct. Fecchange .....................
,--f. —c.
Mexican, 5Fr cent — French 3 per cent ......... —r. —e.
Ditto, 6 per cent.. W 1 — Dutch, '2% per cent. .......... .. 52V
3,6 per cent — Ditto, 5 per cent. ............... 100% SHARE,I
Perayian,lir2,
Ihriningham and Gloucester Railway ... ............ .... 55
Great Western Railway . ..................................... 65%,
LDitto New Share: • .......................................... 30
London and Brighton Railway
Rai1way,........................... in
ondon and Birmingham
.......................
DiDitto Quarter Shares .................. .. ............... 23
tto New Shares .............. ..... ...................... 43
London and South Western Railway ................. ... 4,i
Lontion and Croydon Railway (Trun:i) .................. 9•4
North Ditto Scrip _ .. .......................................... 5!4
Midland Railway ...................... .. .. ......
87
'Mtn 'slew 5hare5.................... ".
.......
15%
South Easter', and Dover ....................................
York and North Midland RadwaT ..................
02