The Sun.
London, England, 1847-01-02 00:00:00

THE, SUN, LONDON, SATURDAY MORNING, JANUARY 2, 1847.

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VOLUME I. of

BENTLEY'S MODERN LITERATURE.
Completing
THE LETTERS OF lIORACE WALPOLE.
- -

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RAILWAY SHARES BY PUBLIC SALE.
MESSRS. LAMOND and Co., RAILWAY
SHARE AUCTIONEERS, beg to thank their Friends
and the Public for their continued support and patronage, and
to announce that their Public Sales of Railway Shares, &c.
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'IHE WEATHER.—SIIN OFFICE, JANUARY 1.
fRERMOMETER, Lowest, 25; Highest, 32 ; Noon, 32.

BAROMETER, 30.57.-WIND E., fine.

-111011 WATER AT LONDON-BRIDGE THIS DAY.
Morning .. 16 minutes after 2. I Evening .. 37 minutes after 2,

and. :military, has scourged the northern and
we stei .n provinces of Mexico. From the insatiable
lust of territory, which has been a conspicuous cha-
racteristic of the United States since their first conso-

Lida Lion into a federal republic, the calm settlement of
diff ?.rences between the Mexican and American Go-
vertin,,ents has been altogether impossible. Else-
where, with the exception of New Zealand and a few
of the minor colonies, mankind have abstained from
the ps .rpetration of those more grievous outrages which
unhappily constitute the bulk of historical and
geog...aphical records. Reviewing these conflicting
circumstances in the different quarters of this ter-
raqut ous globe, circumstances which stamp the by-
gone year of 1846, as one not the least remark-
able in the past centuries, it is impossible for the
mind to abstain from a bewildering oscillation be-
tween the brightness of hope and the darkness of
trepidation. Italy, regenerated under the en-
li guidance of Pius IX., is a consolatory and
sublime spectacle, but Poland, annihilated by the
brute force of imperial accomplices, is in some mea-
sure
a counterpoise. Germany, awakening to a con•
sciousness of her own capability for social and politi-
cal greatness, is a sublime spectacle, but the Iberian
peninsula groaning under the damning influence
of a Gallic schoolmaster and a Gallic ambassador,
is a counterpoise. Belgium, flourishing under the
guardianship of a beneficient constitution, is a sublime
spectacle, but Switzerland, writhing under the strug-
gles of infuriated sectarians, is a counterpoise. Egypt
dawning into its pristine greatness is another sublime
spectacle, but Mexico, dismembered and deluged with
the blood of her citizens, is again a counterpoise.
Internally Great Britain affords us equal cause for
exultation and dread. Seeing that Parliament is
prorogued only till the 19th of the present January,
we shall on Monday comment upon the national
panorama disclosed to us by the termination of the
past memorable year.

(FROM A CORRESPONDENT.)
Our columns of Wednesday, contained two docu-
ments of extraordinary importance which have j ust ema-
nated from the Colonial-office. It will be in the recol-
lection of our readers that an Act was passed towa►ds
the close of the last session of Parliament, 9 and 10
Vict., chap. 103, by which extensive powers were
given to her MAJESTY for the purpose of making
provision for the government of the New Zealand
Islands, and conferring a Constitution on the inha •
bitants of that colony. In pursuance of the authority
thereby granted, Earl GREY, as Chief Secretary for
the Colonies, prepared drafts of a Charter for
these islands, and also of a new commission and in •
structions to the Governor, which have been submitted
to and approved of by her MAJESTY in Council,
and may therefore be considered as in immediate
operation, at least will be, when a proclamation to
that effect is issued by the Governor. With a praise-
worthy regard for the interest that must naturally be
felt by the members of the New Zealand Company,
with respect to changes of so extensive a character in
the constitution of the colony in which their property
is embarked, his Lordship directed that copies of
these several instruments, together with one of the
explanatory dispatches addressed to the Governor of
New Zealand, should be transmitted to the secretary
of the company. The dispatch is of great length and
singular ability, fully disclosing the policy hence.
forward to be adopted, and explaining with great
clearness the reasons by which his Lordship has been
actuated in arriving at the several conclusions. It
evinces a sound and perfect knowledge of the true
principles of colonial government ; and, far better, it
proves that his Lordship is thoroughly imbued with a
real love of liberty, and anxious to confer, to the ut-
most of his ability, the blessings of free institutions
and self-government, so far as it is practicable, on the
people, and to guard with a jealous eye against any of
the jobbing or favouritism that too often, indeed, we
may say invariably, hitherto has characterised all the
proceedings of an infant colony. There is, likewise,
manifested a desire to deal with the aboriginal in-
habitants in a spirit of equity and justice worthy of
the British nation. It would be impossible within
the space that could be devoted to the subject, to give
more than a slight sketch of these documents, and
the principal points of the new charter. We doubt
not that it will be received with the greatest joy and
gratitude in the colony, and that in the United King-
dom it will be hailed with the approbations it so richly
deserves.

The Charter itself contains 25 clauses ; it is, how-
ever, little more than an echo of the Act of Parlia-
ment on which it is founded, calling into existence
the powers which the QUEEN was authorised to
create. It is the accompanying instructions that, as
his Lordship says, " exhibit the plan of the new
constitution in all the detail in which it has been
possible to prepare it in this country," and which is
made the channel of signifying the royal pleasure
fully and circumstantially. These instructions con-
sist of fourteen different chapters, each of which is
divided into several different sections.
The first and second clauses of the Charter refer to
the constitution of the municipal corporations, which
are made the basis of the popular branch of the Le-
gislature. They are to be the electors by whoa the
House of Representatives in each province is to be
elected. The fifth chapter of the instructions provides for
the establishing those corporations. All such parts of
the island as shall be owned, or lawfully occupied,
by persons of European birth or origin, are to be
formed into municipal districts, to be called boroughs,
in each of which there is to be a capital town. The
Governor is to determine the number and extent of
these boroughs, taking into his consideration the po-
pulousness and wealth of the districts, the general
community of local interests subsisting between its
inhabitants, and the facility of access from the diffe-
rent parts of the district to the capital town. Each
borough is to have a Mayor, Court of Aldermen, and
Common Council, similar in every respect, and with
similar powers and authority, to our own municipal
institutions; and every male person (with the usual
exceptions), who, on the -Ist of January hi every
year, is in possession of a tenement which he has oc-
cupied for six months preceding, is to be entitled to
the municipal franchise in the borough, in which his
property is situated. Sir R. PEEL has told us that the
battle of the Constitution was to be fought in the
Registration Courts, that wise statesman clenly`per-
ceiving that the real source of political power rests with
those possessing the elective franchise. • It will from
this at once be seen how wide the foundation on
which the popular representation of New Zealand is
henceforth to rest. Every male of full age, &c., who
on the Ist of January, in every year, shall be in pos-
session of a tenement, which he shall have occupied
for six months preceding, has a voice in the affairs of
his country. He can vote for, and is eligible to be a
member of, the Common Council, from whom are to
be elected the Mayor and Aldermen. The Common
Council, too, are to select the members of the House
of Representatives for each province, who are
again for the present to elect one-third of their
body to be of the House of Representatives
of the General Assembly. We have thus a suffrage
of the most extensive description, and the popular
branches of the New Zealand Legislature made to
consist of a real representation of the many. This
alone will serve as an example of the liberality of the
entire scheme. Each House of Representatives is to
be elected for four years, and is to determine with-
out appeal, the validity of the election of its own
members. The qualification necessary for a member
of the General Assembly is to be the possession of
freehold lands or tenements in New Zealand of the
annual value of 201., or leasehold lands or tenements
of the annual value of 801., or to contribute to the
value of 101. to the general revenue of one of the pro-
vinces, or to the local rates and assessments of
some one of the bodies corporate within the same.
We have thus stated the constitution of
the Houses of Representatives at some length,
because everything will depend on the fair
infusion of a sufficient share of popular strength and
power into the national councils. We entirely ap-
prove of the principle adopted by Earl GREY, who
deserves the best thanks of all real reformers for his
extended and philanthropical views. The system is
analogous to our own institutions. Their Legisla-
ture is to be divided into three branches, parallel to
our King, Lords, and Commons. The Governor de-
rives his authority directly from the Sovereign, and
will of course have (under the direction of the Home
Government) power to exercise all the prerogatives
of the Crown. In this he will be assisted by an I
Executive Council, consisting of the Colonial Secre-

tary, the Attorney-General, the Colonial Treasurer,
and the officer in command of the military forces,
or, in the absence of any of those officers, of the
persons provisionally charged with their duties ; the
Governor-in-Chief to have the power of sum-
moning any number of persons not holding
public offices, and not exceeding the number
of the official members, he is not bound to consult
with or adopt the advice of the Executive Council,
but in such case must give to the Secretary of Stater
an explanation of his motives.

The members of the Legislative Council (analo-
gous to our House of Lords) are to be appointed by
letters patent, issued in pursuance of warrants under
the sign-manual of the SOVEREIGN addressed to the
Governor-in-Chief. The Legislative Council of the
General Assembly is to consist of one-third of the
Legislative Councils of each province, to be appointed
by the Governor. All vacancies by death, resigna-
tion, Sze., to be filled up by the Governor, subject to
confirmation or disallowance by the Crown. We
have thus shown the most important part of the new
constitution, via., the constitution of the Legislature
for the colony, from which will flow all future mea-
sures with regard to that country. We are unable
this day to advert to the other important points
alluded to in the Charter—instructions and dispatches
which relate chiefly to the policy to be adopted by
the Executive with respect to land and dealings with
the natives.

A letter from, Berlin of the 224 states that no for-
mal notice of an intention not to renew the treaty
of Navigation concluded between the States of the
Zollverein and England, in 1841, has yet been
given, but that the States are resolved not to re-
new it. The treaty expires on the ht of January,
1848.

The Augsburg Gazette, of the 25th, has the fol-
lowing from Posen :—" It is now said that the
incorporation of the kingdom of Poland with
Russia will not take place with the new year, as
was intended."

We read in the Hantburgh Correspondent of the
24th:—

" It is said that the King of Denmark has been advised
by the Cabinets of Vienna and Berlin to give to his
country a constitution of States-General, to which the
two duchies might send Deputies, which, however,
would not, it is supposed, sa•isfy the inhabitants of tht
duchies. It is added that the King of Denmark has
shown no repugnance to this project, and has replied
that he hoped soon to see States General convoked in
Prussia to servo him as a model for a constitution for
his subjects. As to the project of a constitution for
Prussia, it is positively stated that it has been decided
upon, and that the only person who voted against it in
the council was M. de Voss. The publication of the con-
stitution awaits only the decree of the King. It is not
known when that will be issued, or what has caused the
delay. When the King was at Ermansdorf a printed
copy was sent to a functionary in Pomerania, but all at
once the publication was postponed."
The Grand Duke of TUSCANY has published 2n
edict, declaring that, as the succession to the duchy
of Lucca belongs, by the terms of the final act of the
congress of Vienna to Tuscany, the debts of the
duchy, and the mortgages upon the domains of the
state, will not be recognised. A hope, however, is
expressed that a loan, contracted by the duchy of
Lucca will be paid off. The shareholders in this
loan, which was contracted a few years ago, with the
house of ItoniscruLD, have the guarantee of Duke
FERDINAND of Este.

Madrid papers of the 24th ult. have arrived.
The Madrid Gazette publishes a circular from the
Minister of Finances to the intendants of the pro-
vinces, recommending a more equitable mode of as-
sessment for the taxes, and desiring that the land-
owners may not be assessed at a higher rate than 42
per cent. upon their net revenues. There is nothing
else of any interest in these journals.
MADAM BOLSA, DEC. 24.—The Three per Cents.
were done at 334 cash; the Five per Cents. at 20j-;
Passives, 6i; Coupons at 19; and Vales, Bi.

We have received the Paris papers of Wednesday.
The Ministerial programme of the session, published
in the Journal des Debats of the day preceding, and
which we gave yesterday, is the subject of comment
in all of them. The Constitutionnel has the following
article on this subject, which may be considered as
the programme of the Opposition for the approaching
session:—

" A few days scarcely separate us from the opening of
the Chambers, and no one conceals from himself the
particular interest and gravity which the Parliamentary
discussions will have this year on account of the diffi-
cult situation in which the faults of the Ministry have
placed France. To give some satisfaction to public im
patience, the principal organ of the Ministry has been
pleased to raise a corner of the veil which hides the
future, and allow us to get a glimpse of what Ministerial
wisdom and eloquence destined to us. A session, which
opens in the midst of a financial crisis, cannot termi
nate without some attempts being at least made t(
palliate an evil which was treated as merely chimerical
when the Opposition predicted it, and endeavoured
to prevent it, and the existence of which is at present
acknowledged so lightly. An endeavour is merely made
to explain it by the too great rigour of the conditions
which have, it is alleged, been imposed on railway com-
panies. That is not the truth. We never opposed
favourable conditions being accorded to useful under-
takings, but the cause of the evil is not in the conditions
which have been voted, or in the degree of confidence
with which they have been able to inspire the public.
The evil, every man of sense allows, is in the number of
the undertakings which have been authorised, in the ex-
cess of public works ordered, in the exaggerated appeal
made to the financial resources of France. Now, what
remedy is it proposed to apply ? Too many railways
have been conceded, and the resources of the country
are not sufficient for the execution of all the works
the authorisation of which has been demanded from the
improvidence of the majority. Do you believe that
some restrictions are about to be applied to this ex-
cessive development of public works? Do you suppose,
for instance, that advantage will be taken of several
concessions not having taken place to nip in the bud
undertakings which it would be impossible to go on
with and complete in the present state of our finances ?
How ill you are acquainted with the political economy
in useamongst our Government, and the manner in which
it comprehends the administration of the public wealth!
Look at the budget; each year the expenses increase and
the resources diminish. What has been done? The ex-
penditure has been constantly increased; and the day on
which the deficit was clearly shown, on which it was al
lowed that it would be the work of long years to establish
the equilibrium, an eloquent and right-thinking deputy,
M. Magne, came forward to celebrate the diminution of
the budget of receipts, and to prove that the State would
become rich in proportion to the debts which it contracted.
This doctrine carried its author straight to a direction of
finances; he had reduced' to theory what our Ministers
practised. It will be with railways as with the budget ;
the resources of the country are not sufficient for the
enterprises conceded or planned ; but nothing will be
postponed, nothing abandoned. The means of existing
which are wanting will not be given to the companies,
but hope will be given to them. The conditions imposed
on them will bo alleviated, and more extensive privi-
leges will be accorded to them; but the capital which
they demand in vain from the public, and without which
they cannot do anything, will not be found for them.
But to place the companies in a state to swell their hopes
without increasing their possible resources, is to furnish
fresh food for jobbing; it is not to remedy the crisis, but
tmiopnrisotlro:g it. We are told that the session which is
about to open will behold a thousand good intentions
coming into existence and expiring. Since autumn the
were particularly distasteful to them last year. It has
daysagaini ta hphpaaesi
asalvte-ry decided taste for the abolition of the duty on
that in throwing light i
, is enamoured of postal reform; and on certain
into
t to
bh
tyeh conversion ou
mindile vh e rs
deplorablei
oofn t
ho fe t
Ministry,
lei
nsFiesivtvereyr
severity,
yei rt,
Cents. But the autumn which has enlightened our Mi-
nistershas deprived them of the means of profiting by it. 'ln
o consequencesnois l of
crisis, this
it severityis
foundof thenecessary bad
everything, with the
sasar. 11l °
bteeeonenndveenmretaeyrdkfoeto all kinds of reforms, which
th
to postpone
they pass somewhat
into a funeral °
intentionedhave persons might, it is true,
assert that bad harvests
olmahtPhiantghat the opportu.nity will
not always existed, that
in six years some of these
eulog
to prepare theameliorations,on which
necessary to make a conquest of the Ma
oration, might
make their peace with M. Pritchard,else do; it
that
Marquesas,
sat isrs:
wasthen
ne-
cessaryronuettod
admiration of the Conservative system it
electoral
and
then
edny
; was
with England ; and when t o for
quarrel il
n all these fine things had
consumed the time and talents • •
of our Ministers at the
moment of occupying themselves with improvements
and setting vigorously to work, this unfortunate autumn
comes to deprive them of ail means of acting, and has
only left them good intentions. It is autumn that, with
ten departments, has drownedthe
conversion of the Five
per Cents., postal reform, and the abolition of the duty
on salt. With the severity of the autumn what remedy
can be found ? As to the foreign relations of France,
we are invited, as well as the rea
ears attentive and to prepare our of, Europe, to hold our
of eloquence which we shall havese vet for the prodigies
take place ? 'Will foreign peace b to hear. What is to
maintained ? Will
passions be soothed down or exeiteed? Will the liberty
of Europe have to praise, or to complain
trial which is announced ? All this is of,
the solemn
make
not stated, but
we are assured that M. Guiaot will m: e plenty of fine
speeches. We shall have phrases to consol us fur the
fall of Cracow and our isolation."
The Commerce is exceedingly bitter against the I
Government, not only on account of the postpone
nsent of the various promised reforms, but also an '
account of the reasons given for the postponement.
n
" Up to the present hour we had thought "
Commerce, " that public calamities, ~ says the ]
ies, great crises, and the 1

financial embarrassments of a country, impostd on those
who govern the obligation of seeking immediately, in a
better organisation of the taxes—in new combinations—
in the reform of certain portions of the budget which
arc over onerous, a remedy for evils, the diminution of
which cannot without danger be postponed. The present
Government is not of this opinion. Experience, oppo-
sition, crises, are. for them only a pretext to persev,Te in
a vicious course. It has not the c mrage to meet difficul-
ties opealy; all that it can do is to postpone the solution
of them; yesterday, on the plea that the country en-
joyed a❑ apparent prosperity; today, because it is un-
fortunate; to-morrow, who knows, because France has
been placed by them at the verge of ruin, and because
then, and in reality, it will be too late to prop up the
social edifice."

The Republican National, which seems to vie with
our own "territorial aristocracy" in its hatred of the
commercial and banking interests, is exceedingly irate
with the Minister for the sort of half hope held out
in the programme that something will be done to
assist railroad companies so as to prevent any undue
pressure upon the Money-market. The National
More than insinuates that the ruin of bankers and
capitalists would be a benefit to the nation.

The Presse is furious at the supposition that M.
GUIZOT can entertain an idea of reconciliation with
England. The Russian serf is working bravely for
his autocratic master, but we doubt whether he will
persuade Frenchmen that it- would be for their advan-
tage, or their honour, that France should become
Cossack. We find also in the Presse the following
semi-official announcement::—
" We are assured that the speech from the Throne
will contain a paragraph having reference to the sup-
, pression of Cracow. This would be in effect the surest
' means of establishing the character of the protest of the
Frtnch Cabinet against the act of the three Powers."

The " Societe pour le Libre Echange" held its
fourth public sitting on Tuesday, in the great room
in the Rue Montesquieu. The assemblage was very
numerous. The business of the day was opened by
a speech from M. CHARLES DUNOYER, the President,
who, with great clearness and firmness, maintained
the advantages of free trade, and contended against
the policy of the Protectionists. He was followed
by M. BLANQUI, M. MICHEL CHEVALIER, and M.
HORACE SAY, all of whom supported the principles
laid down by the President and the general objects of
the Association. M. FREDERICK BASTIAT intended
to address the meeting, but the lateness of the hour
compelled the President to adjourn.

The Duke and Duchess DE MONTPENSIER are to
make an excursion to Brussels in the month of
February.

According to the Constitutionnel, the corps dip7o-
niati9ue are greatly perplexed as to how the question
of the Montpensier marriage is to be treated of in the
usual congratulatory address presented by them to
the KING of the FRENCH on New Year's-day.
" The speech," says the Constitutionnel," which is
to be delivered by the KING on the Ist of January,
by the representative of the diplomatic corps, appears
to be the object of a real negotiation. The question
is, whether the Port's Nuncio, who is likely to ad-
dress the KING in the name of the corps diplomatique,
shall make more or loss allusion to the Duke DE
MONTPENSIER'S marriage, and whether he shall speak
of it as a mere family or a political alliance."_

The Three per Cents. closed on the Paris Bouree, on
Wednesday, at 80f. 50c. ; the Five per Cents., 1181. 45c.; the
Orleans Railroad Shares, 1,262 f. 50c, ; Rouen, 922 f. 50c,;
t Havre, 6821. 50c. ; Greallorthern, 648 f. 75c. ; Avignon, 8761.
25c. ' • Vierzon, 610 f. ; Basle, 218 f. 75c. ; Paris and Stras•
burgh, 486 f. 25c. ; Tours and Nantes, 490 f. ; Paris and
Lyons, 5111. 25c ; Lyons and Avignon, 485 f. Bordeaux
and Cette, 4511. 25c. ; Spanish Actives, a 4; Ditto Three
per Cents., 381/ ; Ditto DoTestic Debt, 32%.
BUSINESS DONE IN FOREIGN RAILWAYS AT TIIE

LONDON STOCK EXCHANGE, DECEMBER 31

Luxembourg,%—Northern of France Constituted, 10%
Rouen and Havre, 263/I—Sambre and Meuse, 4%.

FLANDERS MAIL

BRUSSELS, DEC. 30.—The average price of wheat
during the week ending Saturday, De,c. 26, was 27f.
23c.; and that of rye, 21f. 74c. per hectolitre, which is
an increase of 10 centimes on wheat, and 15 centimes
on rye, above the prices of last week.
The Senate, in its sitting to-day, received a report of
Mr. Bethrone on the budget of the interior; and that of
Mr. Ribancourt off. the budget of law relative to the im-
portation of tow. The assembly unanimously agreed to
the project of law for the exemption from duty of salt
intended for manure, and the budget of dotations. It
then opened the general debate on the provisional vote
of credit for the department of public works.
The Moulton- of this day publishes a law dated Dec.
22, which fixes the budget of the marine for 1847 at the
sum of 2,191,5621., conformably to the annexed table.

RUSSIA AND -POLAND.

We yesterday received two letters, dated Dec. Bth
and Dec. 15tht by the same post. It seems that the mails
have been detained longer than usual.
The letters confirm the accounts of the unsuccessful
endeavour of the Emperor to cross the Niemen, which is
very thinly frozen over, and his Majesty return in con-
sequence to St. Petersburgh. The letters mention as
object of the Emperor's intended visit to Warsaw an in-
disposition of the Grand Duke Michael, with which he
was attacked in the Polish capital. The Imperial Family
had left Czars-Kojeselo and had removed to the palace of
the. Emperor at St. Petersburgh.
Prince Woranzow had again arrived at Titles on the
15th of December. after an absence of six months. The
Russian troops in Trans-Caucasia hope soon to go into
winter quarters.
The Livonian papers mention rrany instances of
wolves attacking both men and cattle. The district of
Dorpet was the most infested by those ravenous beasts.
Yet, even France, the land of civilisation, has not yet
been able to extirpate these animals, though there is
scarcely any other kind of wild beasts to be found there.
Other accounts which we have received speak of the
measures continued with great rigour to propagate the
Russian-Greek religion. The whole island of Ossel,
they say, is already converted to the Greek church, and
the Protestant churches were now frequented by the
landowners and their children. Thus the nobility in
the Baltic province are punished for having so long per-
sisted gradually to give civil liberty to the peasants, and
to inspire them with attachment to themselves and their
religion.
BELGRADE, DEC. 17.—A few days ago Mustapha
Beg, a Turkish Commissioner, arrived here, and brought
the orders (about sixty in number) which were pro-
mised to the most deserving civil officers in the service at
the meeting of the Sultan with Prince Alexander Kara-
: teaoarrgei ei
awtiht sact ltihl
ea
Ps tr pn
er ienags .
of
sTheery
ima- or se
et.
er
ievme d
frrkeamb lteh
ec israc ul
Sultan
n
the present of his portrait, richly set in brilli;ints, which
the bearer hung round her neck with great ceremony, in
the presence of the Pacha of Belgrade. This is car
tainly the first distinction of the kind with which the
Sultan has honoured a Christian lady, subject of his
kingdom. All this proves both how the Turks have
changed, and likewise how much the Sultan has at heart
to obtain the attachment of the Servian nation.

MONEY and COMMERCIAL NEWS.
(From The Sun of last Night.)
The Cotton Market at Liverpool yesterday was more
active. Sales, 12,000 to 15,000 bales, at an advance of
,d. to id. per lb. compared with last week. Shares were
steady, but rather quiet.
The sale of Railway Shares to-day, at Messrs.
Laruond and Co.'s, was well attended, and a fair business
was done at good prices ; French Shares sold well.
The following are a few of the principal sales :
Warwick and Worcester £o 5 0
London and Manchester (flemington's) 0 9 6
Great Luxembourg
Madrid and Valentia
Leicester & Bedford, Exchange Certificate 0 10 6
Shrewsbury and Birmingham ........ 5 3 •
Great Northern of France ..
London and South-Western, Tenths 5 7 6
Vale of Neath 1 7 6
Waterford, Wexford, and Valentia 0 6 0
London and York Extension, ex int 2 12 0
Northern Counties Union 1 13 6
Liverp. Manch. and Newcastle-upon-Tyne 2 9 0
South Yorkshire, Doncaster, and Goole '2 11 0
Paris and Lyons
Manchester and Southampton 1 18 0
The accounts received yesterday by the Caledonia
steamer front the United States and Canada do not
notice the entire termination of the trading season, be-
cause the canals had re opened, and afforded a tempo-
rary opportunity of bringing down further supplies.
There seems to be nothing against an active trade next
year between England and America, although the
balance probably will be against us, the exchange al-
ready being very low.
Tne Annual Timber Circular of Messrs. Forsyth and
Bell. of Quebec, is full of information valuable to the
trade, and the following remarks appear to be of general
interest :
"In reviewing the state of the markets during the
past season, we have to remark on the great ex-
it-. mes in price and the still greater uncertainty that
at one period existed, whether our supply of
timber was to be excessively limited, owing to the
unusual end extraordinary drought that prevailed in
March and April, or abundant without parallel, as proves
to be the case, and, perhaps, in no one year has the un-
certainty of the trade, generally, been more signally
manifested than in the present. We wish to call the at-
tention of the country, generally, to the value of the
export of timber giving employment to British
and Colonial shipment to an extent of 560,000
tons from this port alone, equivalent in sterling
money to about a million in the article of freight an-
nually. That such a trade shouldbe underrated by
many in the mother country is not' to be wondered at,
a hen: many contend England would be better without
' her colonies, but the extent of this one branch ought to
L show them the value of the connexion—to say nothing
of the importance Canada is assuming as one of the few
important granaries that is un.:ontrolled by foreign in.
fluence."

An arrival from the Cape of Good Hope brings us in-
telligence of October 24. There were continued skir-
mishes between the Kafirs and the troops, with loss
on both tides, but the former were nearly exhausted
in their means, and as a large quantity of
waggons and beasts of burden, under the management
of Deputy Commissary-General Palmer, had been sent
by sea as near as possible to the scene of action, the
ar could be more actively prosecuted. As much as
504 had been paid previously for the hire of a waggon
from Graham's Town to Fort Beaufort, where provisions
were exceedingly scarce. The heavy rains that had
fallen would restore verdure to the ground, although far
a time they retarded the movements of the British
forces. Waterloo Bay appears to be too dangerous a
locality for thel anding of stores.
A most satisfactory report was made at the half-yearly
general meeting of the London Dock Company, held this
morning at the Dock House, Prince's-street, Bank. The
quantity of loaded ships which entered the London
Docks during the six months, to the 30th November
last, was 703; tonnage, 181,196 tons. Same time
last year, 731 ; 168,553 tons. Earnings this half-
half year, 209,1661. ss. 51.; lest year, same time,
209,091/. Bs. Gd. Expenditure last half-year, 118,187/.
3s. 7d.; same time last yesr, 110,8554 Bs. 9d. The ire
come has exceeded the expenditure the last half-year
by 90,9711. Is. 10d. A dividend of 2} per cent, for the
half-year was proposed by the directors and unanimously
agreed to, the income tax to be paid by the company.
The English Stocks have been rather dull again to-
day, and there appears still to be an impression that
money is getting tighter. The best test will be, how-
ever, upon the payment of the dividends on
the Bth instant, for if the surplus amount should
be absorbed, it will be a convincing proof
that capital is more wanted, and that the rate of
interest may be expected to rule higher. Even now
there are parties asking 4 to 5 per cent. for loans
extending over some time, although this is not the
current charge for accommodation on short dated bills.
Consols have been 934 for Account, and the New
Three-and-a-Quarter per Cents. 95i I. Bank Stock
has been quoted 205. Exchequer-bills are worth 6s. to
9s. premium.
The Foreign Investments have been generally very
dull again today. The Peninsular Bonds are merely
nominal. Mexican have been up to 241 Dutch
Two-and-Half per Cents., ex-dividend have realised 594.
Shares have been steady generally, and there is an im-
provement in Great Western, South-Western, North
Staffordshire, South-Eastern, Rouen and Havre, and one
or two others.

ONE
PRICES OF BRITISH FUNDS. O'CLOCK.
Bank Stock .. . 205

CLOSIN
rRICF.S.
205

3 per Cent. Reduced Anns 93% 94 94
New 314 per Cent. Annuities 95%1/7 9512
LongAnnuitios to expire Jan.lB6o 9 13-16 15-16 9 1 &-16
Bank Stock for Account .. ••• 2O

Consols for Opening 93%
Exchequer Bills, 1000/.1%d.... 6 9 6 p
Ditto, 500/ . . 6 9 6 p
Ditto. Small •. 6 9 6 p

ONE
O'CLOCK

RICES OF FOREIGN FUNDS
Mexican, 5 per Cent. 1846
Ditto, Account 2434;74
Russian Bonds lll3/4
Dividends on the above payable in London.
Dutch 21:4 per Cent. .
Ditto. 4 per Cent.- Certificates 931/i 93

933/4
6p
6p
9p
CLOSING
rßicEs

PRICES or
PAID. BUSINESS DONE CLOSING
R 4ILWAY SHARES AT ONE O'CLOCK. PRICES.
Aberdeen
Amber., Lott., Boston,
and Eastern Junction 25%8 2% x. int
Armagh, Coleraine, and
Portrush ..
Belfast & County Down 43/i —
Birmingham andnudley p.
Birmin. and Gleucester..loo 129% 128%
Ditto New 17% 321 ......
Birmingham and Ox-
ford Junction
Birkenhead, Lancashire,
and Cheshire Junc.... 23/4 —
Boston, Stamfd, & Birm. 225.
3/4 s p
Bristol and Exeter
Ditto, New
Bristol and Gloucester... 30 ......
Bristol and Liver. Junc.. ......
Buckinghamshire
Caledonian
Ditto Half Shares...... 21A 2js. .......
Ditto, Clydesdale Junc 25
Chester and Holyhead... 27114 2534
Churnet and Blythe
Chester and Manchester 425.
Cheltexham and Oxford 2
Clarence lOO
Do. Ist Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent.
Cork and Killarney 2%
Cork and Waterford ... 1% —
Cornwall
Ditto, Half Shares
Direct Lincoln, East Ret-
ford, and Shetld. Junc. 2% -
Direct Northern Scrip.. 3.% —
Direct Norwich
Dublin and Belfas t J unc. 12 % —
Dublin, Belfast, and
Coleraine
Dundalk & Enniskillen 10
Eastern Counties 14!. 16' 22% 23% ......
Ditto New l2/ 16s p
Ditto Perpetual, 5 psr
Cent, No. 1....... 6/.135. 4d...
Ditto ditto, No. 2... 6!. 13s. 4d... p
Do., York Extension.. 2 ......
EastDereh'm andNoech 1
Eastern Union
Ditto, Quarter Shares 10
Do. Exten.(llarwich)
Do., Camb. and Ely..
East Lancashire
Ditto, New
Do., do. (late Preston
and Ormskirk)...
Do., do., New Scrip
East Lincolnshire ... 1
East & West of England 1% —42%
Edinburgh and Glasgow 50 78
Ditto Half Shares ... 10
Ditto, Quarter Shares 12%
Edinburgh & Northern.. 12% —
•••
Edinburgh and Perth... 3 ...... .......
Ely and Huntingdon ... 1214 l4
Enniskillen and Sligo ... 2 4 —
Exeter,Yeovil,& Dorset 2%
Glasgow, Dumfries, and
Carlisle
Glasgow, Kilmar.,& Ayr 50
Ditto New .. 15
Do., 14 Shares (5 per
cent. guar.)
Goole, Doncaster, &c. -
Great Eastern &Western 21/2......
Great Northern (London
and York Regd. 214.. ...
Do. (Direct Northern
Regd.)
Great South. and West.

••• 000000 •••

231%
7% P

A P
3%

17%

3

19

(Ireland) ... 27% •••
Great Munster 2l/i......
Groat North of Scotland 21,4......
Great North of England..loo
Ditto New 5
Ditto, New .
Ditto, New
Great Western B5 133
Ditto % Shares
Ditto ~i Shares
Ditto Fifths
Ditto, New
Huddersfield & Manches. 13
Ditto, Extension 3
Hull and Selby 5O
Do. Half Shares 25
Ditto 1, Shares
Ipswich & Bury St. Edm. 14 ~.. , — ....
Do., do., and Norwich 5
••••
Lancaster and Carlisle... 50
Do. New ... 5
Leeds and Eradford 3O -
Leicester and BedfJrd... 16s.
Leeds, Dewsbury, &c.... 22% — ••
......
Do.,l3ranch (Blue) ... 2% —
.•
Do. Extension( Green) 2 Ih.. ~. —..

1814

73A

•• •••.• 000000
••• ......... 52%

67%
75%

• • .• lz-*.i' --I- - •
-.• I
40016
;•- Or •,.'iiit:l4-
' ,-;:jr:',7-. Avb;lllb.
A3'
•.- '"' t'l .r,' :1491/4. , t;,
,a-- N
....*
"' -il
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