The Sun.
London, England, 1847-07-21 00:00:00

NING, JULY 2l, 1847.

are placed. The difference between the sale pries and
that of the day on which the opium was to be delivered
is the first item of compensation of consideration; the
second is the loss of interest by holding the opium on
hand until it was ascertained that the lSloonlm world
never come to a fair adjustment—after which, as will be
remembered, it was ordered by the Resident to be sent
down to Bombay. The dryage is the third and last
item for compensation.
" The ruling price of the day on which the contract
falls due, is the standard observed in settling prices of
the opium time bargains, and it is hoped this data will
be assumed, as an invariable practice, which obtains at
Malwa in adjusting similar differences."—Bd.

in the face of the Scout and Pluto, anchored off the
Factories, with a company of the Royal Irish quarterel
within them.
But if the matter in not nettled satisfactorily now, It
may be !a perpetual sou: cc of inquietude, though few
merchants will probably be disposed to incur the odium
and ann63'auce of erecting warehouses on liown4 so long
as the present facies or storing goods are oil';led
the brokers.

It would certainly be very desirable that the goods
were under the merchants' own charge; and t is to ue
regretted that a more eligible site than Honan had not
been suggested. Its unsuitableness, however, ought to
be a sufficient reason for proceeding no further in its ac-
quisition; and as lieying is probably as desirous to get
out of a difficulty with his countrymen as ours are to
improve then' position, we trust the Plenipotentiaries
may fairly consider the matter and come to some more
satisfactory arrangemslit, Dane's Island Mls been
spoken of as greatly preferable to %nun; and as it bag
large portions of ground unbuilt on, It vrotilcl probably
be much less difficult to obtain what is wahtt--d there
than at Ilonan. We have never been on Dane's Island
ourselves, but it has been carefully examined by several
intelligent mercantile men, and one of them especially,
on whose judgment and experience we place great con-
fidence, speaks of it as containing the most eligible sites
for warehouses in the Canton river.

This matter is operating at present in keeping up
irritation and a feeling of uncertainty most injurious to
trade; but the present dullness may in no small degree
be attributed to other causes. The general lull at this
season has this year been increased by a prostration of
native credit, in consequence of the failures among the
Hongs; one of the oldest of which (Linching) has fol-
lowed close upon those of Foo-tae and Arcing. The
debts in the present instance are said to amount to seven
lacs of dollars, partly arising from old losses, and partly
from Linching's forced contribution to the Canton in•
demnity money, in 1841, which was almost entirely
squeezed out of the Hong merchants—a mode of paying
the claim which has crippled the trade of the city ever
since, and thus probably caused more damage to foreign
commerce than the value of the payment to Great Bri-
tain. Many of the wealthy Ilongs have since with-
drawn from business, leaving it in the hands of a few
smaller traders, who have been speculating far beyond
their means.
We are assured that the native failures in four months
have been to the amount of three million of dollars,
while the aggregate assets do not amount to a fifth.