The Sun.
London, England, 1841-02-10 00:00:00

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NG EDITION!

om 63 to 5, are, we understand,
'o at 96 to 8. The English price
arrear of interest. The coupons
cannot be worth less than 15 to 20 per cent., to
judge from the price of Spanish Deferred Stock, and
the holders should not allow themselves to be cut
to pieces by the nominal quotations of the stock-
jobbers. The amount of the capital of the debt is, in
both cases, it is to be borne in mind, very limited. The
resources of Chili are, moreover, as is well known, in a
course of rapid improvement ; while, with regard to
Buenos Ayres, it is shown, on the best authorities, that
the revenue of the State is susceptible of a vast in-
crease. The attention that has been paid to the wool
trade, formerly one of no'account whatever in the Re-
public, but which is now gradually becoming a lead-
ing branch of business, is particularly alluded to in the
publication of Sir Woodbine Parish, our late Minis-
ter at Buenos Ayres. 'Wool, like hides and tallow,
may be considered a staple of the country, and an ex-
cellent medium of remittance during an adverse state of
the exchanges, such as the Buenos Ayres Government
have at this time to contend with.
A people who have shown themselves capable of
maintaining a contest of three years' duration with a
Power like France, aided as the latter has been by
Uruguay, will, if we mistake not, become impatient
of the stigma which attaches to their character in a
financial point of view. Senor Moreno does not deny
that the home creditors have been regularly paid what
was due to them ; and if n demand has not been made
by the British Minister for justice on behalf of his coun-
trymen, the creditors of Buenos A) res, it is quite clear
that it cannot have been for the reason that their claims
were less urgent than those of the complaining subjects
of the King of the French.

A correspondent called attention in yesterday's paper
to the Portuguese decree for the conversion of the fo-
reign debt, pointing out an objection which he sup-
posed had escaped the notice of the other stockholders.
The said objection had, however, been met at an early
period by Mr. Thornton. That gentleman, in a letter
he addressed to us on the 19th ult., refers particularly
to the Gth article of the decree which fixes the exchange
at 55d. the milreis, " should the holders of coupons
have to resort to the Custom-houses of Lisbon and
Oporto for the payment of their reduced dividends," as
a most inadmissible one, and it is said that, should Mr.
Thornton not receive from Senor Fcrraz a satisfactory
reply upon the point, the measure of conversion before
the public will no longer have his countenance.
Mr. Thornton argued the matter thus :
" It is right to infer that while the exchange at Lisbon
ranges above 55d. per milreis tho Government will rUnit
and pay in London ; while on the other band, if it falls,
the already deeply injured bondholders will be the suf-
ferers ; and here two melancholy instances present them-
selves, and of which experience remind; me, in the cases
of Rio de Janeiro and Buenos Ayres, the exchange at the
former place having fallen from 60d. to 32d. per milreis,
and at the latter from 4s. 6d. to 2id. per dollar. 1 do
not for a moment mean to insinuate that her Most Faithful
nijesty's Government meditated taking any advantage in
this respect ; but it is perfectly reasonable that the bond-
holders should ho protected against further loss to which
fluctuations in the exchanges would undoubtedly subject
them. As such, in the event of having recourse to this
dreaded alternative (remitting the coupons to Portugal),.
I venture to suggest that, in justice, they should be re
ceived at the exchange of the day."

We arc glad to hear that the manner in which the
Spaniards and Portuguese are cutting and carving out
systcms of compromse for themselves, has at length at-
tracted the serious notice of the English Ministry. The
Committees have been requested to forward to Lord
Palmerston such particulars as they may deem essential
to the interests of their constituents, es contained more
especially in their memorials or remonstrances to the
respective Governments.

SUN.--No improvement in the English Stocks to-
day, for altheugh a few purchases, soon after the corn.
mencement of business, gave prices a little more firmness
in the morning, they subsequently more than lost what
they bad gained, Consols for immediate transfer closing at
a decline of 88,1 and 88k, and for the Account at 88f to
881. Exchequer Bills were at ss. to 7s. premium, and
East India Bonds at 203. to 10s. discount. Bank Stock
was depressed at 153, but East India Stock was not lower
than 246} The Reduced Three-and-a- Half per Cents.
brought 68A- to and the Three per Cents. 89f to 88g.
The Foreign Funds all had a downward tendency :
Spanish Active were at 24 to 23k, Portuguese New Bonds
at 32 to 311, Mexican at 27k, and Colombian at 22f to /.
Brazil Stock was at 721, and Dutch Two-and-a-Half per
Cents. realised 49i- to bo.
Shares were scarcely dealt in at all. The Great Wes-
tern obta'ned 24, the New 10f, and the Birmingham 85
premium.

The Foreign Exchanges were steady, but not buoyant.
The rates on the principal bill cities of the Continent
were these :—Paris 25f. 50c. to 55f. ; Amsterdam, 12 21;
H.mburgh 13 71 ; Frankfort 148!,; and Trieste 10 li
to 2.

Tile exports of the precious metals from the port of
London, in the week ending Thursday last, were 869
ounces of silver coin to the Mauritius, audJ-06,000 ouridei
to Calais.

ST. ALBAN'S ELECTION.

FINAL CLOSE OF THE POLL YESTERDAY.
Lord Listowel
Mr. Cabbell
Majority