The Sun.
London, England, 1840-12-31 00:00:00

Our manufacturers are now busily occupied in the
execution of orders fur the United States markets, and
it may be taken for granted in the event of no extra-
neous circumstance occurring to interfere with the natu-
ral course of trade, that the exchange will improve, and
continue favourable for this country the whole of the
ensuing year, especially when it is considered that a
large amount of American paper will have to be nego-
tiated through this country for the purpose of liquidat-
ing certain outstanding liabilities on the Continent. We
have, in 1840, during which the imports from the United
States did not fall short of the average received from
thence for several seasons past, a most unpropitious
year. We come, then, to the conclusion—a conclusion
in which there is scarcely room for error—that the ba-
lance of trade must be so decidedly in our own favour as
to justify the importation of specie from America as a
safe and profitable investment.
When it is recollected how large a proportion of our
foreign traffic is with the United States, it will be con-
ceded that to see the exchange in that part of the world
placed upon a satisfactory footing must necessarily fur•
nish the trading part of the community, as well as our
capitalists, with fair grounds for all the exultation which
they seem to experience.
The only thing that can well go counter to this en-
couraging state of things is the unfortunate propensity
that is, we fear, still prevalent, for the dirty loan jobbing
that acts so prejudicially to the interests of the country,
both public and private. If this is kept under control
there can be little fear that the Bank will before long
begin to recover their stock of bullion, and relax the
" screw."

As many persons in England are deeply interested
in the progress of the canal, coal, and iron woks in
America, we give, far their information, the fol “wing
extract from the National Gazette (Philadelphia I per)
of the 30th ultimo :

" The Danville Intelligencer of Friday last says : ' The
north branch division of the public works continues to ork
well, and such a rush to get down Wyomin coal ar,.! up
Shamokin coal to Danville before the close of navig !on
was never before known. At the wharfs of Biddle, Ct ,nt-
bers, and Co., in front of the Montour iron works, an I in
front of the steam-engine manufactory and machine shop
of Heywood and Snyder, mountains of coal are raising
from the continual stream of boats there unloading. All
the assurances of the canal officers that the canal should
be navigable this fall are more than fulfilled. Our iron..
men will have fuel plenty on the spot where they want it
for the winter season, and three, if not four, anthracite
furnaces will be in blast at Danville throughout the ensu-
ing winter. One of tho large new furnaces of Biddle,
Chambers, and Co., is now ready for business, and another
nearly completed.'"
Commercial letters from St. Petersburgh continue
to speak of the appearance of the British at Pekin. In
one of them we find it stated that two considerable
towns, besides the capital, had been taken possession of.
The Manchester Guardian gives the following (dated
St. Petersburgh, Dec. 11), which has been addressed
to " an eminent Foreign house" at Manchester, and
which was received yesterday morning :
" At the beginning of this week a Tartar arrived here
from Kiachta, wiih the news that the English had taken
the capital of China after hav'ng bombarded it, and de-
stroyed all the forts near the river. The Emperor, the
Son of the San, had fled with all his mandarins. The
consequence of this event will be a good treaty, which
will completely change the commercial dealings with that
empire."
This informationn seems to be express and intelli-
gible enough. It is given, not as a matter of hearsay,
but as one of fact, and, as it agrees substantially with

a variety of statements previously obtained here and at
Liverpool, it may be considered, in the opinion of the
Guardivi, as not without foundation. Kinchta is geo-

graphically the nearest, and, moreover, the most con-
venient point tram which news might be expected over-
land. It is a frontier town, in which there aresta-

tionad custom-house officers, Chinese as well as Mit-
sian, to see to tha regulation and payment of duties on
the part of the respective Governments.

HERALD.—The Post-office appears to be getting
into disgrace. An order has been exhibited in the City
from a provincial office which has been refused payment
on the ground of " no orders," that is, as regularly disho-
nOured as any bill of exchange ever protested.
In reference to the " London and Westminster
Water Company," noticed soaie time ago under this
head a report has appeared in the City drawn up by
Mr. Robert Stephenson, the celebrated engineer, which
appears highly satisfactory. As it ►nay probably appear
iu another part of the Herald as being a document of
public importance, there is no:occasion to refer to it here
more particularly at present.

SUN.—There were no arrivals to-day.
The business done to-day in Consols was rather more
extensive, and this led to a further slight improvement ;
the quotation for the opening having been 88i1 to 88,1
ex-dividend, and the latest bargains being at 88i to
The other Stocks also rose a little. The Reduced Three
per Cents obtained 881 to ; the Three-and-a-Half
per Cents. 971 to 97a ,the Old Three-and-a-Half per
Cents., 974 ; Bank Stock, 1374 ; and Long Annui-
ties, 13. The value of Exchequer Bills was again 2s.
to 4s. premium ; and of India Bonds 15s. discount.
The market was favourably influenced by the higher
prices received from the Paris Bourse, but it did not
leave off quite so good as it was in the morning, pro-
bably on account of the advices from Lisbon, by the
Montrose steamer, still being of a warlike tenor, the
preparations being continued with considerable activity,
and the public mind being much agitated.
The very extensive transactions entered into on
the Madrid Stock Exchange, have inspired the jobbers
here with more confidence, and to-day they have
been doing more than for a long time past. As to-
morrow is the day appointed for the settlement of the
half monthly account, the operations entered into,
where not for money, and these also were important,
have been for the 14th of next month. Much good is
anticipated from the efforts of M. Gamboa to dispose of
the Convent Lands, and it has been stated that nego-
tiations are in progress between the English and Spanish
Governments for the adoption of some energetic mea-
-1 sures calculated to meet the claims of the foreign cre-
ditors. The Active Spanish Stock ranged front 2-02 to
2,5 for immediate transfer ; front 24i to 25k for the
14th of January ; Portuguese New Five per Cents.
opened higher in the morning, viz., at 321 ; but this
afternoon they gave way again, and closed at 321 to 4.
The Three per Cents. varied from 21 to 21t. Colombian
Stock of 18'24 improved to 234 to 24 ; and Mexican
to 984 to ; Brazil Bonds were at 71 or a rally on
the previous nominal value of about I per cent. Spanish
Treasury Bonds were quoted 26 ; Dutch Two-and-
a-Half per Cents. 51 to 1 ; and the Five per Cents.
971 to 8.
A meeting of the Portuguese Bondholders is called
for the 6th of next month, when, we perceive, the pro-
priety of petitioning the Government anti both Houses