The Sun.
London, England, 1847-06-04 00:00:00

FRIDAY EVENING, JUNE 4, 1847.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool, yesterday, were 4,000
bales, including 400 American for export. The market closed
quietly with prices of American, Surat, and Egyptian un-
changed. Brazil was %Id. higher. The business consisted
of 500 Egyptian, at 71/2d. to 81d. ; 500 Surat, at 4d. to 4%d. ;
400 Pernams and Illaranhams, at 7d. to Bd. ; and the remainder
American, at 61!2d. to 74d. per lb.
The prospects of the Money Market will not be clearly
ascertained until it is seen how far the Government can
overcome the difficulties which in some measure appear to
exist in connexion with Exchequer-bills. Report states
that money will be demanded for them to the amount of one
or two millions sterling, and great curiosity is, therefore,
felt to ascertain whether the Chancellor of the Exchequer
will fund, raise the interest, or get the assistance of the
Bank, in co-operation with other wealthy establishments,
to take the new bills, and get them out gradually on the
market. Most likely the payments on the loan have fur-
nished ample funds to meet the claims of dissentients.
The author of some letters, which appeared in The Sun
newspaper of the year 1843, under the signature of " luta,"
considering that our present monetary difficulties offer a
esasonable opportunity again to bring forward his suggestions,
and that a "Correct Monetary System" is essential to a
" Free Trade System," remarks that—" The injustice of the
present system, which requires the Bank of England always
to provide gold at 3/. 17s. 101,12 d. per ounce, though the di-
rectors may be compelled to give 4/. per ounce for it, is
obvious; and its inexpediency, as it regards the British
public, has been shown in my former letters. All mer-
cantile men know how dreadfully they have been
punished to meet their pecuniary engagements at those
periods when the export of bullion has been a profitable
transaction ; yet nobody can with propriety blame the direc-
tors of the Bank for having refused to supply, at those
times, the usual amount of accommodation to their custo-
mers, seeing that a more liberal policy would have endan •
gered the safety of that establishment. Rather let blame be
attached to that law which put it out of the power of the
directors to administer the ample resources of the establish-
ment with a steady and uniform liberality."
The illustration is given as follows :
" The panic of 1825 shows how individual selfishness may
be tempted, under our present monetary system, to act pre-
judicially to the public welfare. But, assume the market-
price system of cash payments to have been in operation at
that time, and the result would have been widely different.
For the sake of argument, we may admit, that the extrava-
gant speculations of 1824 had taken place, and that, from
the extraordinary facilities which this country then afforded
for borrowing money, and the increased value it commanded
abroad, an export of the precious metals had commenced,
which threatened to drain the coffers of the Bank of
England. All that the directors need to have done in such
a case, under the assumed system, would have been to offer
to give or take gold, in its relations to British bills, after the
same rate of value that the gold commanded abroad. This
would at once have checked any unnatural demand, whilst
any legitimate and natural demand would have been sup-
plied upon fair commercial terms. But the most important
part of the case would have been, that the Bank could then
have safely continued to supply bank-notes for all domestic
transactions of our merchants, without any danger of being
called on immediately afterwards to give gold for them upon
cheaper terms than they could buy it."
There have been some few money sales of stock again to-
day, but as the corn market is dull, prices are kept tolerably
steady. Consols have been 881/9 to 88% for present transfer,
and 88% % for July. Exchequer-bills are firmer, at 2s. to
4s. premium. The New Three-and-a-Quarter per Cents.
have been 88% to 89. Bank Stock is firm at 195.
In the Foreign Investments the business done has not been
of any extent. The accounts from Lisbon have not depressed
the value of Portuguese Stock below 32% 1/s, because there
are adverse statements as to whether the Junta will accept
our mediation. Spanish Three per Cent. Stock has been
quoted 34. Grenada Bonds have been at 20. Dutch Four
per Cents. are 89% to 90, and Russian Bonds are 110.
Railway Shares have been very dull to-day, but are look-
ing up again, and in general cannot fail to be benefited by
Legislative interference to check calls.
BRITISH FUNDS TIIIS DAY AT ONE O'CLOCK.
(From the Official List.)

Bank Stock .. .. • • • • .. 195
Three per Cent. Reduced Annuities • • 87 %;:i 87
Three par Cent. Consols Annuities • • .. 881 h %
New Three-and-a-Quarter per Cent. Anne. 88% 89 88%
Long Annuities, Expire Jan. 5, 1860 •. 9 8 15-16
India Bonds, 1,0001. .. .. • • • • • •
Ditto, under 1,0001. .. 3 p
South Sea Stock .. • • • . • • • • • •
Ditto, Old Annuities .. 85%
Consols for Opening, July 16 .. 881%
Exchequer Bills. I%d. 2d.
1,0001. . • .. .... 24p
500/. • . • • .. .... 67 p
Ditto. Small . • • • 10 7 p
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent • • ..
Ditto, Small • • • • • • • • • • 84
Granada, 1 per Cent. • • • • • • 20
Portuguese Bonds, 5 per Cent. • .
Ditto, Four per Cent • • • • .. 32 %24
Russian Bonds, 5 per Cent • • • • 110
Sp.unsli Bonds, 5 per Cent. • • .. 22%
Ditto, for the Account .. • • 22
Ditto. Passive Bond, • • • •
Dltt•, Three per Cent .. . • .. 34
Dividends on the above payable in London.
Belgian Four-and-a-Half per Cent. 93
Dutch Two-and-a-Half per Cents.
Ditto, 4 per Cent. Certificates .. 90 89%
BUSINESS DONE 1N RAILWAY SHARES AT ONE O'CLOCK

RAILWAYS. PAID. PER SHARE.
Boston, Stamford, and Birmingham • • 5 .• .. 5% .... to
Eastern Counties • . .. 20 .... 19% • ... to
Do., Perpetual,s per Ct. No. 1, 61. 13s. 4d..... % p.. to
Ditto, York Extension . • .. 7 .. • • 634 .... to
East Lancashire .. .. 17 .... 7. .. to

Ditto. New • • • • .. .• • • 75¢••.• 64 •• .. to
East Lincolnshire • • • . 634.... 8 •• .. to
Edinburgh and Glasgow .. .• 50 .... 69 .... to
Ely and Huntingdon • • • . • • • 15 1514% • • to
Great Northern .. .. • • • • .. 3% •• • . 2 ••.. to
(treat Southern and Western (Ireland) 30 .. • • 22% •• .. to
Great Western • • • • • .. 85 ....114 ~ to 115

Leeds and Bradford .. • . .• .. 40 .. 86 •• .. to
London, Brighton, and South Coast • • 50 53% .. to
London and Greenwich .. 121. 15s. 4d. •• • • BTi . to
London and North-Western.. •,.100 .. • • 175% .... to 174%
Ditto, Quarters •. .• L. and B. 7 .... 22% .• • to
London and South-Western 411. 10(1. • • .. to
Ditto, Tenths (Consolidated) • • .. 50 .• .. 53% •• .. to
Lynn and Dareham .. 20 . .• 20% .... to
Ditto, Thirds (Reg.) • • • • • .-71. 45... • • dis... to
Midland .• .. —lOO .• •• 118 .... to 119
Ditto, Fifths • . . • .. • • • • 2 •• • • 39% .• .. to
Ditto, New .. • • • • .• 6 .. • • 8% •• • . to
Ditto, Birmingham and Derby ..100 .... 91 .... to 93
Newcastle and Berwick • • .. •• 20 .... 26% •••• to 27
Ditto, New . . • • • • • .. 5 .... to
Norfolk .• • • • • ..100 . • • .... to
Ditto, Extension • • • • • • • • 10 •• .. 10% .... to
North British • • • • • • • • • • 25 • • 32% .... to
Ditto, Half Shares • • • • • • • • 12% •• • • 15 .... to
Ditto, Quarters • • • - • • • • • • 3% •• • . 4%%.. to
Ditto, Thirds • • • • • • • • • • 1 •• • • 2% •-•• to
North Staffordshire • • • • • • • • 7% •• • • 9%%.• to
Ditto, Scrip (late Churnet & Blythe) 2 .... 1% to
North Western • • • • • • - • • • 4 •• • • 2%%% to
Oxford, Worcester, & Wolverhampton 22% 13%,,
A to
Preston and Wyre • • ........25 •• • • 36 •• .. to
Scottish Central .. • • " • • • • 17% •• • • 24% to 24
Shrewsbury and Birmingham (A) .. 3% •• • • 3 .• .• to
Ditto, ditto (B) •• • • • • • • 3 •• • . to
e.outh Staffordshire ••••••• • • • • • • . 2/. 125... % dis.. to
South Eastern and Dover • • • • .331. 25.4 d. 36% to
South Yorkshire, Doncaster, & Goole 2 •• 1% .... to
West Riding Union • • • • • • • • 4/. 25..• • . %1,4 dis•• to
York and Newcastle • • • • •• • • 25 .... 37 .... to

Ditto, New • • • • • • • • • • 10 .... 1434.... to
Ditto, Preference • • • • • • • • 4 to 7
York and North 311dland • • .. 50 to
Ditto, Preference • • • • • • • • 6 .... 1414 .... to 15
Ditto East and West Riding Extension 10 24, • to
FOREIGN RAILWAYS.
Paris and Lyons
Rouen and Havre • • • • • •• 20 25%.. •.to
Sambre and Meuse • • • • • • •• 14 •• • • 75% •••• to
MINES
Real del Monte ,Unregistered 314.. • • to

LLOYD'S SHIPPING—(THIS DAY.)
LONDON, JUNE 4.—Wind N.N.E., light breeze, and fine
clear weather.
DEAL, JUNE 3.—Wind N.E., fresh.—Arrd. Elizabeth,
Louise, Jachtmanus, Havannab, and sailed, for Hamburgh ;
St. Arms, Duff, Sierra Leone ; Sandwich, St. Lucia. Sailed
Eleanor Lancaster, Sydney, New South Wales; Samarang,
Calcutta; Mary, Bombay; Rasina, ditto; B. B. Greene,
Mauritius ; Orator, Cape of Good Hope ; Copy, Bathurst ;
Forrester, Tobago. The keel of a vessel, of about three
hundred tons, was passed on the 28th ult., off the Lizard, by
the Eliza, arrived in the Downs.
OFF BRIGHTON, JUNE 2.—Cuba, for Antwerp.
OFF TILE OWERS, MAY 31.—Waterlily, Hart, Jamaica.
PonzsmouTH, JUNE 3.—Wind variable.—Arrd. her Ma-
jesty's ship Vengeance, Halifax.
OFF THE NVIGHT.—Ann Welsh, Morgan, New York,
fur Antwerp.
OFF THE START, MAT 31.—Enterprise, Cook, West Indies.
PLYMOUTH, JUNE 3.—Wind S.—Off port, Alert, Baggs, St.
Croix, for London.
FALMOUTH, JUNE 3.—Wind Narwall, New
York.
OFF THE LIZARD, MAY 27.—Nordpolen, Petersen, Bahia
for Stockholm. 28. Finland, Bowne, Philadelphia, for
llavre. 30. Parthian, Sabrae, St. Croix, for Copenhagen.
LivzitrooL, JUNE 3.—Wind W., light.—Arrd. Nabarito,
Havannah. Sid. Hannibal, Calcutta; Victoria, ditto; Char-
lotte, Bahia; Sandford, Demerara; Grecian, St. Thomas's;
Columbina, New York; Chedabucto, Halifax; John Jardine,
Quebec; Leo, Montreal; Lima, Newfoundland. Off port,
Eliza, Johnston, Paraiba; Sherbroke, Savannah; Falcon
(brig)—.
CORK, JUNE I.—Wind S.—Arrd. Rosa, Le Petourel, Mau-
ritius for Bristol. Sld. Brazilian, Porto Rico; Wissacumeon,
Norfolk; Roseanna, Quebec.
MARYPORT, JUNE 3.—Arrd. Cawton, Dunn, Sierra Leone.
OFF CORK, JUNK I.—Eliza Leishman, Mauritius.
LIMERICK, JUNE I—Wind S.—Sld. Re Davide, New
York; Caroline and Alice, ditto.
SLIGO, MAY 29.—Arrd. General Taylor, Lebbey, New
Orleans. June 2. Sld. Eliza Liddell, Shippegan ; Morna,
Miller, Quebec.
BELFAST.—Arrd. Enchantress, Emmes, New York.
W ARRENPOINT, JUNE 2.—Sld. Francis, New Orleans.
SUNDERLAND.—SId. Ninna, Vaux, Quebec.
CAUTION TO MARINERS.—REGULATIONS IN THE
DARDANELLES.
The master of the steamer Levantine, arrived at
Constantinople, 14th ult., reports having been fired into from
the Castles in the Dardanelles, on attempting the passage
after sunset, and directed to anchor until sunrise.