The Sun.
London, England, 1841-06-01 00:00:00

'%et:2A
EVENING EDITION.

s ountry, being but little more than five millions of pounds. The
exchanges' on the Contitrent s have been restored to their
just equilibrium, and, after a long interval of depression,
there was a probability, now that prices have been
reduced to a salutary standard, of • a more active ex-
port trade for the present season than our manufacturers have
experienced for years. '1 he huge French loan, era r is, ae-
cordingly, to be rei a ded as an exceedingly tantowa.rriOrie. It
could not have been brought forward at a less auspicious mo-
ment, either for the borrowing Government or for this coun-
try. The Chronicle doubts the success of the French Mi-
nister in any attempt he may make to obtain a portion of the
amount on this side the Channel. The ground of our Con-
temporary's doubt is not apparent. He merely alludes to "
isting-eireuzastsuscea,". as not propitious for such an operation,
without going at all into particulars. It is felt, we suppose,
that our capitalists have suffered so extensively by their
foreign loan transactions as to have rendered it unlikely
they, will venture materially further; and it may be
imagined also that the Bank Directors are in too .4
cramped a position to extend the necessary aceorrit
modation to parties desirous of participating in the French ton-
tract. Our own impressions differ considerably from those of
our Contemporary. We are clearly of ciiinion that a large
amount of the new creation of stock must find its nay inns the
London market. The Brazilian and the Belgian loans have
not been declined ou the pretext that the Governmerits of the
two countries were too much burdened with debt, and that
Spain and Portugal had shown so wanton a disregard of their
public engagements. If Brazil has not got all she wanted, it
was owing to the personal displeasure of one individual
who
_had claims to make on the empire in connection
with Portugal, and not from any general distrust of her
resources. It can hardly happen„ then, that the prof-
lered • securities of an "honourable • and perfectly solid
and trustworthy nation like Fraace will be rejected by
those whe have a command of funds with which to make in-
vestments in them. It is said, indeed, that parties connected
with the Stock Exchange have already been matins. arrange.
ments for the purpose, and that the heaviness of the markets
to which we have adverted above, is ascribable almost to this
circumstance alone.
A rumour was prevalent that. the next outward Fast India
overland mail will be detained at 31ilta by Government, in
order to afford time to Sir Henry Pottiager to receive the
latest,instructions after the arrival of the next &spa:chess from
Chins by the same route, and which may be looked for between
the sth and 10th of the ensuing, month of June. We do not at
all vouch for the accuracy of the report.
TIMES..—The statement that. all the stock belonging to
Hammersley's bank had been sold, which was current in the
City on Saturday, does not appear, on further inquiry, to have
been quite correct, as the last sale seems to have taken iilare
to-day. So far, it was true, that by tar the greater part of
the stock was already sold, but a sale to-day, by the Court of
Chancery of 70,000/., or therealmuts, is said to i:selude the
remainder.

• •
The very small imiression—if impres,ion it can he called—
which the announcement respecting the French lon has made
in the money market in this conotry, is a clear ini!itation of
the state of the public mind at the present nornek with re-
spect to foreign investments. All :distinctions* between fo-
reign countries, all preference for the securities of
one over those of another, seem to have e-teed, and Ciultalists
atipear completely to have given up the thought of 10,4coig to
any of their funds as a means of investment. To such a pitch
is this apathy, or caution (whichever it may be),.cairied, that
if a sale to any extent is made of a foreign sink by a bona fide
holder, the jobber is almost as a matter of e.,.urse obliged to
seek a purchaser in a foreign country before he can resell it.
Under such circumstances it is expected that the French loans
when it actually makes its appearance, will take very little
money out of this country, while meats of disposing of it on the
Continent are at hand from the payments fur foreign corn
that have from time to time been made by • us. Resides,
the European countries are said to be nivel] more disposed
to holdea.;l other's stock than we are to take any of them.
and Dutch and Russian securities are much spread over
Europe. A comparison with the eagerness with which foreign
loans were entered upon some years
.ago, contrasted with the
Present indifference, might seem to argue a want of wealth
in this metropolis,* especially when the stocks are raised by
those nations that have not forfeited public credit.. The
solution given, however, by persons most experienced in the
movements of individual capital, is the ;;rest increase in rail-
roads, in which, as into a natural channel, money seems gradu-
ally to be findin, its way. The diver,ion of capital into thin
domestic investment dues not appear to have been sudden. butt
the purchases have gradually become more numerous, and are.
still progressing.
CI I RON ICLE.—The expected introduction into the market of
the French loan has caused a heavines, in the funds, but the:tle-
pression as yet has been only trivial ; first of al!, beeauseit is not
supposed that the loan will be immediately neeotiated ; secondly,
because it is considered that it will be eiTeree in instalments
distributed over a cnnside: able space of time; and, thirdly, be-
cause it is not believed that it will be loOked upon. favourably
in the London Market, unless there Should be a very conside-
rable fall in the
.French limites. The Hank of England will
look upon it with a repulsive eye, and, by keeping money tight,,
endeavour to pi event their gold from being taken away for sacha
a purpoie.
SUN.—The Storfk market was dull all day, and prices
/.1- per cent. lower. It is difficult to assign any, oettee
reason for the fall than the mere want of busi-Atss, and
the ab.-;en,e of muy of' the chief jobbers. Conads for
immediate ls'ansfer brought 89:1 to 901, anti for time 903
to f, the market closing with a dull uppearanee, Ex-
chequer Bills were Us. to las. errinimn, rind Indies'
Bonds :)s. premium. • Bank
.Stec: wits dull at 169,
the New glove soul a Half per. Cents. realiztAl Sl,lto
v.ltt t;it, Three per Vents. Reduced Annuities 89 to
be,. Until after thi-, determination of -the elk4a.r,,A
spectingno--cezifhlenee in Ministers, the market ,la not
exPtseteA lo
The Settlement in the Foreign Market '.,nok place to-
day, and, from the (77A1-cruel), limited 'Au:racier of the
speculations, within the ]at fbrtnigli'i-,* the Account, and
the differenclvs arising front . it, Were perfectly insignifi-
eaat„ The fluctuation in Spar4sh Bonda, 'for instance,
has been only , and, . Dortuguese, per cent. -7
ro-
il;;_- Active Spanish liends have been depressed at 234
to 3, and Portugitose .New. Five per at 33;2 to 34.
As reg'.l.l:il4 the -latter, it is not to be wondered at that
th y • shsouki (ro lower, tceiricv the deplorable condition of
-
finaneial atfairs.at LiAtzat, where the Government-is un-
thle to rise the funds to pay even troops or artisans.
Frenah Ftvn per Cent. ltentes *ere 114, and Dutch Two-
' ana-,A-..Viati* per Cents. 52;,1 to
IS was pay- day in the 'Share- Market- lust here
again the jobbers caw: off comparatively harmless.
'o the aacont_l2o been adjusted, rties are in the
market seinooaglrtbr a vise.: Gricat-AVeitern Railway
yt
tips rig, sere 28} to 30, the New -I.4,4Y);l4";the'riftbs,74-
-:Fie -London and-Birmingham, Quarter, 18T, ta'Nerw:2*-1(
the South 11.rokeern 164, and, the York and North Mid-
-10 prem. Brighton were 4/. Blackwell 54,
tun', :North Midland 33 din. Colonial Bank Shares were
t 1 premium,

•

MORTGAGEES AND MORT-
GAGORS.
TO THE EDITOR OF THE SUN.
• Srn,--Lord liedesdale is stated, I observe, to have
made the brilliant remark, that " the manufacturers
wanted to reduce landed property one-third in value, in
order that those who held mortgages might enter into
possession of the estate Ivithout making any further
payment." had this observation fallon from the real
I'lantagenet,- -Or any Other " tenth transmitter of a foolish
race," it would have been natoral; What can those Noble
Lords know about vulgar business, except to sign their
name to the mortgage deeds, and put their finger on the
seal at the.bidding of the attorney's clerk, and mutter out
something about " act and deed ?" But Nv lum the son of
a Chancellor endeavours to prove his fitness for u seat ou
the Tory benches of the Upper House by such dicta, we
can, !,!q account for such blindness of intellect b attri-
buting it to a desire to remove all recollections of his re-
cent nobility hri. out-Iferoding the Ilerods of aristocracy.'
Surely„ depreciation of the value of land will affect
the mortgagees as Inuit as any class of the community.
An advance of two-thirds of the value of an estate is helot
to be a proper. and prudent investment ; reduce the va-
lue of the estate one-third, and the security is hsreltlt-
eq',;itl to the principal; and the mortgagee must. trust 'to
the personal responsibility of the mortgagor for the in-
terest of 1116, money. Those manufacturers, therefore,.
who are actuated by the motives Lordliedesdalettssigitt
-hoist be very deficient in shrewdness.
Your obedient servant,

A LAW IF,R,

- -
TO THE EDITOR OF Tll2 SUN.
Sits—Your Correspondent " A Pl',ll- Weaver," wishes
to ascertain the average wages of a good workman for
the last ten years, in order to fled whether any or what
increase has taken' place. Now, Sir, Ido not think that
the object of the inquiry can he fulfilled without at the
the same time ascertaining the price of food, fuel, &c. &e.
at the various times of the dith‘rent payments of wages.
A good w.orkman, a cottage tenant of mine, (I give you
were so much higher in Wales than in this neighbour-
his name and place of residence) bearing that wages
hood, left his home to seek his - fortune at high war,
and was absent for several months, but at leuktl
returned home. I asked him what • wahe
t
earned ' in Wtdes, he replied from 18s. to 21s, .1
week. Well, said- I, how is it that 3 are bac -
so soon' lie
he could do better at home with his 9s. per
soweek and his
-." dear that
in Wales..
garden than 1w could do with the higheF
high wagesrlow as ate Wages will be found to be relativelyl.
said everything was
Supposing a males
necessaries of life are high or
thiso he is able to procure
wages are 15s. per week, with
Now if this mates wages,
a certain quantity of food.
n with that 20s. he cannot
shonld be raised to 205., and
~,od,
it
is evident that thr,„t
procury an equal quantity of -
line. I therefore suggeet,
lower wages are a benefit to
of wages should be at:-
that the returns of money value fixed.
ac-
companied with the money value of .
t the high price of food in the ma.
11.1"1-. bye,districtstray
y not
Wales account in some measure
imilt,cturmg
• oof those who were said to be earn-
for the dissatisfiteln
time of the late Chartist.riots ?:
in,, wages at the
' high ‘, can get their bellies
well supplied with
Few wen Y(..4'
1 •-kof a halter.
food will run tae-ris
NO MONOPOLIST.
It urs, &v.
Ilfracombe, May 27, 1841.

The New Edition of " Bu:ke's Peerage
and Baronetage for 1841," has just appeared ;
To
appearance, far surpasses all its prede-
cessors,
and for beauty of arrangement, extent, of information,
o each successive reprint, (says the author
i ;,is pr " '
e and to the truth of the assertion, the
: : 1 tlel el;aenfcate,
excellence and correctness of the work bear ample tes-
timony), the most assiduous attention is devoted. FaCh
article is separately and distinctly, revised, amended,
where inaccuracy is discovered, 'and extended by :such
new intialutttion as may be obtained from public records,
or private papers, regarded as trustworthy.. The volu-
minous collections made by the author himself for his
" History of the Commoners," and his other genealogical
works, .- haves in this respect, been found ,of the
um-10A value ; those papers having in frequent instanc;:s
thrown new light upon the Peerage and llaronetr„re,,
by showing that many branches, still in the stnt'.on fot
country gentlemen curly, are nevertheless the ‘.;niefs d
several ennohled cud thgnitied families ; and,rAirther,-. by
'
enabling .the author• to enter more at la
.ge int'u colla-
teral live,3; and thus to enrich his pages, by ~...
ticeessionz
of names to the respectable Pedir,44 IN-VA:Tiad ppe.
viimlslY lAnu !,ntlrely ex,eltuied
Arlueriten." -
'IV- • .
~FEAI OF THE
have for many years
c 0,.... DIES IN ST. JAMES's.-....
After one the eviere
of
past taken plaeeitti
...., parish of St. James's, the tfootion of vse-
, ' l argest mu:alter
trymen has tc::alitiated in the defeat of the Tease-and tho,.
triumph octne Whigs by a majority of CO
polled tOt the former being 940, and for the latter 1,000.