The Sun.
London, England, 1841-02-12 00:00:00

IrLONEY MARKET and CITY NEWS

(WEDNESDAY EVENING.)
POST.—The disclosures made in the House of Com-
mons last night respecting the seizure of Mr. M‘Leod by
the State authorities of New York have produced a marked
decline in our public securities. It was currently reported
that Lord Palmerston, having pronounced the detention of
Mr. M'Lcod illegal, had forwarded instructions to Mr.
Fox, in the event of his not being forthwith liberated, to
return to Europe. A favourable result to the trial is
hoped for ; but, in the alternative of a conviction being
obtained, it is considered very unlikely in this part of the
town that the American Government—at any rate the
party now in power—will yield the point.
The tea market since the receipt of the Chinese
despatches by the overland mail, has been comparatively
and, indeed, unusually calm. Or, the day of the arrival an
advarce of about one penny per pound took place in the
speculative walks, but the trade seem inclined only to buy
from hand to mouth, as their orders happen to come
forward, little disposition being evinced to "go into
stock," as it is termed. No surprise can be felt that
such is the case. The experience of the last year must
be strong in their recollection. The conseqeences of
the engagements entered into during that period are too
fresh to admit of their involving themselves so speedily
in similar risks. They are now aware that affairs in
China, though perhaps comm-r c* Ile right, arc, poli-
tically speaking, anything buntwhattlahe; ought to be. Ad-
miralot
Elliot may, or may have been acting under
the wisest and soundest counsel h •
tory mode of warfare that he the concilia-
hal'U;afduetpittieigs clear in what
he has done ho has reserved to himself' the power of laying.
waste, should it be found expedient to do so, the whole
littoral of China. Avoiding firing a shut,eexcepting in
extreme cases of provocation or necessity, he has en-
tered into preliminary arrangements for a negotiation,
and is so far content with them that he had agreed to •
prosecute the correspondence at Canton.
euently, whilst he remained at Chusan, he ordered usb-
om
junks to be restored .to the Chinese, and removed
the; blockade of the river at . Ningee. With these
manifestations of a pacific tendency he will arrive
rt,,ten , and i is not to be expected that he will be
mere hostile there then he was in the vicinity of the island
of which he had taken possession. Much is heard of the
refusal of the Chinese to scll us tea in the event er the
blockade being removed, or of a desire being shown by Ad-
miral Elliot to allow the trade to be curried on whilst Rego_
nations are pending. Now, the conduct of the ex-Gever-
nor Lin, and Captain Elliot, et the commencement of
last season, does not warrant the supposition that such a
policy will be resorted to, and the position of the trading
communitiea is very much the same. Tea her come down
to Canton for s,le, and the Hong merchants are there
as crafty arid avaricious as ever. &rips sailing under
all CCIOU a were at Macao laden with cotton and other
articles of import to an immense value, while mer-
chant„, with an abundance of specie, were anxious:),
vratcl,ing an epportunity of commencieg operations,
the Hong merchants pressing their Government on the one
hand, the European merchants urging their authorities
with equal earnestness on the other, to aid them in the
accomplishment of their purposes. And as the interests
of the two countries are identical, a repetition of what oc-
curred last year may be reasonably anticipated. Ciptain
Elliot, the Superintendent of the trade is, on the part of
England, the active Plenipotentiary, though for Lin an-
to_their, ofF.cer is substituted. Captain Elliot knows per-
"'et') well the value end nature of the popularity that
• must accrue to him from the sending home of another
season's supply of tea. He is quite familiar the
with all
advantages of commercial intercourse, and hence it is con-
sidered that he will not fail to do his. best to promote it.

It is, we presume, in the faith principally of opinions
founded upon a course of reasoning somewhat analogeus
to this that speculation has been for the moment suspended,
and the more cautious line of conduct adopted, as cent-
pared with that was witnessed in tine trade last year.
Besides which, tte price of t.ta in the spring of 1839 wcs
f,•,r the common yillities, but Is. Id. to Is. 31. per lb. ;
whereas it is now Is. 61. to Is. 81. per lb. The same scope
for speculation is not, therefore, afforded ; and whenever
the negotiations shall terminate amicably, peace prices
may be again expected to prevail.

lIER ALD.—The impression made by the M'Leod
case alluded to yesterday as considered of a most serious
complexion, has been viewed to-day, after the additional
light cast upon it by such ambiguous explanations as could
be extracted last evening from the Foreign Secretary, as
of a graver character still, and as one the solution of which
is barely practicable without an appeal to arms. It has
bscn strongly rumoured all day in the City that the final
instructions spcken of last evening by the Fore!gn Secre-
tary as to be sent off to-day, arid which will get to the.
United States a day after the fair, as usual in Govern-
ment business, arc to the effcct of conveying positive or.
dm to Mr. Fox, the British Minister at Washington, to
make his bow and take his leave instanter, unless Mr.
M‘Leod ba released from prison and permitted to de-
part in safety for Canada; but rumour does not say
whether any and what sort of indemnity is to be demanded
and exacted also for the atrocious outrage committed upon
that much.abused gentleman by the kidnapping pirates of
New York. In fact, however, it is believed that these
instructions from home wilt reach Washington too late to
save the life of Mr. M'Leod, unless as appeal has been
waged in the meantime 1-ont State tribunals to the Su-
preme Court of Judicature of the Union ; for as to State
law, State justice, State Courts and State morals they do
not appcar by any means so well settled and conclusively
organised as State execution in tie gouging, l 3 etching,
aid bowie-knife line. It is surely time to deal with
these pirates avid marauders in a dffarent fashion than
by diplomatic notes at Washinwon to a ricketty Ge-
vernment without the shadow of power beyond the
two or tl rea miles of the district of Columbia where
the Government horse and halls of Congress happen
to he located ; a Government, all vox et precrea
nihil, in fact, whose authority disregarded in Maine arid
despised at New Yolk, as well as in every other State of
the Union, should be treated with contempt only abroad
when so powerless and pusillinimous in enforcing respect
at home. It may be remarked, moreover, that this Ge-
veriirnent, so wordily rigorous in the matter of morals and
justice against others, is i:self a standard ptron and pen-
siener of m'sc7eant incendiaries and herder brigands, for
not on'y was the infamous Bill Johnson of samffgling
rio-
tor who fired the Sir Robert Peel Canadian strain r,
screened from punishment, but he has since been, and is
now, according to credible aecaunts, actively engaged in
the service of the pure and moral administration of Van
Baran at the tal-e, afire dollars a day fire and blood money.

The f,!cts and considerationy here treated of as the current
ti.lk among City rople contributed to induce the persviaJon
that war einnet munch longer be postponed with the United
S ates, unless a Government more powerful to enforce
order and obedience to the laws at home, and more loyally'
inclined to act with good faith abroad, come.to be esta-
blished, is beginning to be general in the pity, and of
cum-se continues to affect the p; ices of stocks. Consols
are sill drooping and fell to-gay to 87i to EY for Money,
and 83 to for Account.

THE SUN, LONDON, FRIDAY, FEBRUA R Y 12, 1,441.

SPORTING INTELLIGENCE.

TATTE RSA L L'S—I'EsTERDAY.

The betting this afternoon was slack, but far from uniro..
prtalit, inasmuch as a radical charge was brought about
;n the positions of the prkelpal ravoutitz,s. The fist bets
laid were ID to 1 against Palvernon, and 9,000 to 20 against
Ben Brace ; after these followed 600 to 500 on
Coronation against Palmmcn, and offers of 20 to
I against the latter, not moro than 18 to 1 being
ff, red against CoronP.ticn, who was first favorite. Another
till more exciting alteration ensued—the Rosalie colt, on
.he outlay of a trifle, sprung 020 to 1. was backed fora small
,um, and then advanced a couple of points ; and even here
,he improvement did not rest, as the final offers were to
net 16 to 1 on the ft, Id, or take 18 to 1, Rosalie Lcing
first favourite. Eringo was in demand, and although not
`Pteked, cannot be quoted at more than 20 to 1 ; we goes-
•ion, indeed, if these odds would have been laid. Prince
Caradoc was backed once at 23 to 1, and his bleker not
-;atit,fied—the last off:;r was only 21 to 1. The Knight of
he Whistle was in favour at 25 to 1, and the !Mlle odds'
KC suspect, would ht..ve been taken about Marshal Soult.
We have no other changes to point out.

THE DERBY.
1000 to 10 agst Batson's two—taken
16 to 1 agst Rosalie colt
18 to I agst Coronation
20 to 1 2.g.St 131'wrnon
20 to 1 a:fst Eringo
21 to 1 agit (7amloo
25 to 1 ngt Kuiglit of Ow Whil!le—takol
33 to ) ajst Duke of Wellingto,—'.frcrs to t
1000 to 30 Agst S r lions—taken
1000 to 10 agst Ben Brace—taken
100 to 1 agst 111ustqba Aluicy •
600 to 500 en Coronation agst PAwton—taken

NEWMARKET FREE HANDICAPS.
CRAVEN MEETING, 1 S4l srmy.

Three-yrs-old S,ccpstakcs of 50 FO VS. each, h ft. T. Y. C
Ralph, Bst. 711)--Tareaway, Bst 7;h—Sy,ophant, Bst 7:h
_Gohernouche. Bit, 71b---Minx, 8 t B.'. `?'.b
Viola, Bst 21b—Mosque, 7st 811,—Myrtlo, 7st 81b—Y.
Quo Minus, 7st 6'b—Syntaxina, 7,t 6:b.— B. 0., 7st 6:1.1
_Messcne, 7st 3:b—The Cornet, 7,t 3 b—Jonjon, 7st 11h
ssica, 7st lib—Blanche, 7st— Mona c, 6 a 13:b—Yara-
6st ; Executrix, 6 t 1 I.l6_Safeguard, 7st 10th
--Annot Lyle filly, 6,t 101b—Ultica fi:ly. Est 71b.

Sweepstakes of to sous. caclL h fr. T. Y. C.

Sect 9.1 B!l)—AssAFtin, 4 yrs, Bst 101)
(3.lllipoli, 5 yrs, B,t 71b—Gey Milton, -.4 yrs, 83t 71b—
Diderot, 4 yrs, Bst 711)—Gam Ostn, 4 yrs, 8;t. 61b—
P.-tvnini, 6 yrs, B,t s!h—Muley Libmacl, 4 3rs, Sst
S:utF.ri, 4 yrs, Bqt 11!7---1),:rstul, 4 }-s, B,:t 110—King of
tip,. Peak, 4 yrs, Bst flur:rrni:ig Bird, 4 :,•rs, 80—Caution,
4 yr.:4, 8 •t—Lani.l)!utrie.n c (Ii 1;), 4 y-rs, 7't 101b—Mena-
.ippo 4 yrs, 10'b—The Currier, 5 yrs, 7qt 101b—J31:u.s,
4 yrs, 7st 71b—Brsctlet, (3 yrs, 75t 4.h—Ruthless, 4 ,rs,
7qt 410— Silistria, 4 3rs, 7st 411,—Rxmnant, 4 yrs, 7st 410
—Science, 5 yrs, 7tt 41b—Confusionee, 5 yrs, 73t 311,
C,runbyses, 4 yrs, 7st:—Maid of Ipmieb, 4 vrs, 7st—Mul-
eiber, 4 yrs, 75t—Tr3gedy c, 4 yrs, Gst 101b—Exit, 4 yrs,
6qt. 101b—Billow, 4 yrs, 61t 10I0—Grarshopper, 4 yrs, (36t.
10 b—Sherbet, 4 yrs, 6it 81b—Pluto, 5 yrs, Gst 71b—Per-
dim; 4 yrs, Gst 71b.