The Sun.
London, England, 1841-01-25 00:00:00

MONEY MARKET, DEC. 27

The weather yesterday was very inclement, and but little out
door business was transacted. At the Stock Board there was some
depression: United States Bank fell per cent. ; Vicksburg 3- ;
North American Trust and Banking Company I ; Delaware and
Hudson ; Harlem ; Long Island 1 ; Stonington 1 per cent.
Sales of Indiana s's 731; Ohio 6 per cents. 96i; bills on Phila-
delphia I die.; Baltimore 1 a l 3; New Orleans;ll dis.
A sale of Union Bank Stock was made at New Orleans, Dec. 16,
at 19 a 30. On the same day 30,000 dollars specie arrived from
Matamoras.

In relation to the Wayne County Bank, the Albany Argus has
he following:—

The notes of this bank being no longer redeemed by the agent,
are selling at a discount of l 2 per cent., and in some cases probably
much larger. The Comptroller is authorised to raise money on a
six per cent. stock for the redemption of these notes at par.
We recently gave a statement of the trade between this country
and France, in reference to the future policy of this Government,
in regard to the tariff. While the attention of the dominant party
seems turned to narrow restrictive measures, with a view only to
raise money for present expenditure in the intercourse be-
tween this country and the old nations of Europe—a large and
lucrative business with other nations is about to be thrown away
for want of encouragement. It has been the policy of Great
Britain always /to encourage the new and growing markets for
her manufactutes in countries, the natural products of which she
excludes by high duties. This has been brought about by the
immense loans she has made to such countries in their necessi-
tics. The actual transf:r of the capital so loaned has been
made in the shape of manufactured goods. This, within the last
three years has been the case in regard to this country, to the
extent of more than 100,000,000 dollars, while our flour and grain
has been excluded from her market. For many years the same sys
tern has been pursued in regard to the Brazils. England has sent
to that country nearly 5,000,000 dollars of coton goods,
while its coffee and sugar have been almost prohibited
from her markets by high discriminating duties in favour of the
British Colonies. At the same time the United States have sent
scarcely $500,000, while they have taken nearly one-third of the
coffee exported from Rio. The result has been that exchange is
heavily in ['Amur of England and against the United States, lead-
ing to a constant export of the precious metals from this country to
the Brazils. 'rids has caused a great derangement in the finances
of Brazil. She is now in the London market for a new loan of
2,000,0001., to be applied to arrearages of interest. The facility of
borrowing in the London market has seriously injured her, while
the British manufactures have profited by it.
The course of au irredeemable paper currency, united with the
' facility of obtaining loans in England, have plunged her into nearly
inevitable ruin. At the same time she is possessed of almost
boundless resources, which, if properly applied with a sound cur-
rency, would render her one of the most prosperous of nations.
The population of the Brazils, according to the best authorities, is
1,400,000 inhabitants, or 2,400,000 free persons and 2,000,000
slaves, and the area of the empire is 268,000 square leagues. The
debt is as follows :

'oreign debt due in England £6,000,000
Menial

Total funded debt

Circulation of Bank paper _ £5,000,000

Annual interest due abroad £loo,ooo

Deficit of revenue fur the last two years, 16,560 con-
toe, or

The constant depreciation of the currency, and the increasing
foreign indebtedness, have produced an enormous exchange in fa-
vour of England. The cost •f production in this country is an.
nually about 9.0 per cent. higher than in England, and the effect of
an increased tariff will be to increase the cost as much more under
our present system of currency. This will effectually exclude our
manufactures from the foreign markets, and leave a clear field to

the English producers. It is only with a cheap currency and a per.
fectly free trade, that the Eastern producers can thrive. A few
years of a steady and low currency, would enable them entirely to
supplant the English not only in the Brazils, but the Chinese and
other foreign markets. The existing treaty with the Brazils will
expire in one year, and a new one should be formed on the Ameri-
can reciprocity system.

RATE OF SALES AT THE STOCK EXCHANGE.
50 shares U. ►. Bank opg

LOU do. Dcl. and find.
25 do. N. Am. Trust ...
25 do. D. Dock Bank s6o 60
36 do. Mech Bkg Ass
10 do. Seventh Ward Ilk
10 do. Vicksburg Bk ... 10i
25 do. 'Mohawk It
61 do. Paterson It
34 do. Boston and Prov
100 do. Stonington It

50 do. Harlem It
100 do. L Island 11
25 do. Canton Co blo 24
SECOND BOARD.

10 do. N. A. Trust
25 do. Canton Co
20 do. Hatton It
SALES AT PHILADELPHIA, SATURDAY, SECOND

~.s'2o 05,
~.s 30 10