The Sun.
London, England, 1841-08-20 00:00:00

LONDON, FRIDAY, AUGUST 20, 1841.

the people might be wrong, and the Monarch right, even
when they differed. upon political subjects... For thus
thinking they have been, over and over again, abused by
the Radicals 23 tyrants. They have been told a thousand
times, in a 'tone of Radical menace; that " the people is
the only legitimate source of power." Why eo, not the
Radicals now acknowledge the error and wickedness of
this principle ? Why.do they not confess, and ask par-
don ? Why, but that they are despicably selfish, and
afraid to acknowledge any truth which knight be prejudi-
cial to their own interest.

MONEY MARKET and CITY NEWS

FROM THE MORNING PAPERS OF THIS DAY.
POST.—A speculator named Clark was declared. Mr.
Clark is a broker, and it appears that he has been placed
' in difficulties by the extensive operations in which he
was engaged in the Consol and Spanish Markets. The
insolvent is said to have held largely of Share property,
but his principal losses have been incurred as a bull of
Spanish Stock.
Lord Palmerston has, we understand, sent to the Com-
mittee of Spanish Bondholders, desiring to be put in
possessing of their third Report, recently published, as
well as copies of the correspondence, various memorials,
and other documents relating to the claims of the Bond-
holders, the whole of which it is intended to despatch by
special messenger to Madrid, together with his Lord-
ship's observations and instructions upon the subject.
Senor Rull must be well aware of the altered position of
Lord Palmerston, and we do not suppose that any atten-
tion will now be paid to his representations. He will,
moreover, consider it strange, as every one else must do,
that Lord Palmerston should never have felt the pro-
priety of his interference until he was virtually dispos-
sessed of all official power.
TIMES.—The speculators in tea, who were the first
to rely on the " news said to have been received from
China, are now beginning to doubt its authenticity, and
take great pains to limit their transactions, and dimi-
nish, whenever an opportunity offers, the liabilities ttey
have already incurred. Under this impression the de-
cline in the price of the leaf which ha.. occurred occurred within
these 'last two days had brought the to a very pas-
sive state, while the heavy sales declared to-morrow in-
duce the trade generally to believe that even the present
prices will be scarcely supported.
Our private letters received from Amsterdam state
that the Finance Minister had, on the 17th instant,
presented to the States-General the biennial Budget of
Ways and Means, and the Bill for converting the Pas-
sive into Active Debt. By this important Bill it
is provided that the annual conversion of Passive Debt
into 21 per Cent. Active, as enacted by the law of the
14th of May,'lBl4, shall, after the abolition of the regpee-
tive enactments of the laws of February 9, 1818, the
27th of December, 1322, and the 25th of December,
1824, be superseded by an immediate and entire Conver-
sion into 21 per Cent. Active Bonds. 'With respect
to the manner in which, the new conversion is to
be effected, the inscriptions of 21 per Cent. Active
Debt on the "great book," are to be granted as fol-
lows :—For 1,000 florins deferred, and a " chance
bill," 68 florins ; for .1,000 florins deferred, without a
" chance bill," 18 florins ; and for a " chance bill,"
without any deferred, 50 . florins: For 1,000 florins
deferred, with a "chance bill " drawn already ac-
cording to the enactment of December, 1824, inscrip-
tions are to be granted, 'varying according to the
time when the conversion, according to the drawing,
would take place. Thus, if the " chance bill," in addi-
tion to the 1,000 florins deferred, has been drawn to be
converted on the Ist of January, 1842, the inscription is
to be for 1,000 florins ; if in 1842, for '953 florins ; if
in 1844, for 909 florins ; if in 1845, for 867 florins ; if
in 1846, for 827 florins ; if in 1847, for 788 florins ; if
in 1848, for 752 florins ; if in 1849, for 717 flm-ins. The
inscriptions in consequence of the present conversion
will nominally amount to 71,396,000 florins. The budget
which was presented by the Dutch Minister on the
same day is comprised in twelve Bills for the expenditure
in 1842 and 1843, and a thirteenth for the revenue. The
total amount of the revenue covers that of the ex-
penditure without any new taxes being levied, any
existing taxes being raised, or recourse being had to any
new means of credit. The expense for 'the two years is
estimated at 71,300,000 florins per annum. While bring-
ing forward his financial plans, the Minister proposed to
cancel 800,000 florins of 41 and 21 per Cent. Stock, and
to appropriate 750,000 as the first step towards a sinking
fund. lie announced an important fact, which is, that
the Dutch Government has not as yet been able to put to
the account of Belgium her share in the National Debt,
but that that country had regularly paid 5,000,000 florins
per annum. The objects of the present assembly of the
States are considered to be of such paramount import-
ance, that the Minister has begged that they will not
separate until they have come to a decision.
HERALD. Considerable amusement has boon
afforded to the city gossips by the ludicrous lumbering
of the city article of the Times in an attempt to discredit
the very late accounts from China which, as so gene-
rally Occurs with intelligence of any moment, made their
appearance in the Herald of Tuesday last, and had to
be copied and inserted at second hand in the Times of
the _any Thic was
not silently to be endured, and so, for two mornings
consecutively the city Times has been zealously
labouring in the fox -like vocation of proving that the
grapes beyond its reach were sour as verj ince. " All
the details of the supposed letter from Macao, it is
remarked this morning, are as vague as possible,"
Ace. Now vagueness is assuredly the very last reproach
which ought to have been hazarded, for whatever the
doubts entertained or affected in interested quarters at
first in respect of the genuine character of the document,
they were grounded almost entirely upon the uncommon
particularity and exactitude of dates and details as they
appeared. That the letter may have been used and dis-
patched for " interested purposes" by the party here or
elsewhere is not only possible but tolerably certain, for
merchants or speculators do not generally go to the cost
and trouble of procuring and forwarding interesting intel-
ligence by special express for the mere gratification of
parading it in the columns of either the Herald or the
Times. It isnot improbable that more*substantial results
were looked for as the reward of superior enterprise antl
tact, and the sustained firmness of the market shows
that the speculators on the news are not playing at " tea
and turn out" any how. As to the assertion that "no
weil-informed person in the City attaches the least credit
to it," this can only be met by a direct counter negative,
for none but persons indifferentlyAnformed could suspect
any impossibility about the manlier in which the intelli-
gence is said to have been received in India and for-
warded to England. In fact, as people good-naturedly
remark, if the news had first appeared in the Times in-
stead of the Herald, the rack would have been punish-
ment toe mild for the hapless sinner who should have
presvufrd to question its authenticity. The letter, after
all, not sent to Paris for insertion from the parties by
whom assumed to have been received and acted upon in
this city,iit, if at all, toMarseilles, whereit was first pub-
lished in the Semaphore, and subsequently extracted into
the
u-Wilaherls paper.iioncea
mistake has been committed, there are
only two ways of getting out of the difficulty created by
it—either by frankly acknowledging the error, or bra-
zening it out to the utmost.
The accounts lately received from Manchester and the
neighbouring districts mention a partial revival in the
demand for yarns, principally for exportation. The
sales had been to some expnit, but piece goods were still
neglected, and the large stocks precluded the hope of any
advance in prices, until considerably reduced. This same
complaint of over-stocked markets is made at every foreign
port, and affords a sure proof that over-manufacturing
and manufacturers consigning too largely, or at all on
their own account, are the principal sources of the pre-
sent depression.
SUN.—The Stock Markets were quiet to-day, but prices had an up.
ward tendency until sales in the ReducedThree.and.a.Half per Cents,
operated against an improvement. 'Consols for Money closed at
89 f, f, and for Account at 891 to a.. Exchequer Bills were 13s. to
15s. premium, Bank Stock was 168 to 169, and the New Three-
and-a-Half per Cents. realised 981- to
Spanish Active Bonds were done at 191 to 1, Peruvian at 18,
Chilian at 70, Belgian at 1021, and Dutch Two-and-a. Half per
Cents, 51,E to
The Shares supported fully yesterday's rates. Brighton got up
to 5:l discount, and Great Western were I 7 premium.
It was Messrs. Ladbroke who borrowed allarge sum of the Bank'of
England, but merely to close their business before all itheir securi-
ties fall due.

A DISASTROUS .YOKE.--A young lady, whose
name we forbear from mentioning, was brought before
Mr. Duffy, charged with' having stolen a ring from a
person called "A. gentleman, whose name we also
suppress, lest. the lady's name might thus be indirectly
revealed. The facts of the case are these :—The accus-
ino• individual, who resides in the neighbourhood of
Mbountjoy-square, went to visit the lady on Wednesday
evening, when she, taking a
linger,fancy to his gold ring, re-
moved it from his and jokingly observed that
she would not give up the prize. lie left the house, and
next day meeting her in the street, called a policeman
and gave her into custody. The lady, who was much
agitated and shed tears, stated that she took the ring
merely in joke, and without the slightest intention of
keeping it. Her feelings had been greatly outraged by
the charge, and her imprisonment in the station house
all night. The Magistrates instantly discharged the
fair and injured prisoner.—. Dublin Pilot.
AN AIR ENGINE OF THIRTY HORSE POWER.,
—An engineer of Dundee has succeeded in constructing an
air engine that promises to be of great value. The manner
in which it is constructed is at present a secret, as the men-
tion is not yet secured by patent, but the engine itself, not
merely a working model,. has been constructed, and is em-
ployed in his workshops in performing the duty which previ-
ously required a steam engine of thirty horse power. This
effect, we are informed, is produced by the consumption of only
one sack of coals per day.
FORTHCOMING BENEFIT OF MR. CAMP-
BELL, AT THE EAGLE TAVERN,CITT-ROAD.—With great
pleasure we observe that Mr. Campbell, the talented Managing
Director of the Grecian Saloon, will take his Benefit at the
above pl6c4, next Wednesday evening, August the 25th. Mr.
Campbell appears to haye used his best art towards rendering
the entertainments brilliant and attractive. Nearly forty per-
formers are to form the orchestra. Two bands are to accom-
pany the choir, and the songs and madrigals selected fof the
ecelsion are alp choicest of our musical composers. 4fter
this harmonious display iu the grounds, Tarim, vaudevilles,
extravaganzas, and theatrical amusements will be represented in
the saloon, and the pleasures of the evening are to be crowned
with a superb display of fireworks, which, at this place of en-
tertainment, always call for great admirationtlol,gnetoherd with
sets of the Musard and Irish quadrilles. dr. Campbeirs,
benefit promises a brilliant fete night, and will,
attract bendrede,

ASSIZE INTELLIGENCE.
HOME CIRCUIT—Croydon August 18.
(Before Lord Chief Justice' TINDAL and a Special Jury.)