The Sun.
London, England, 1840-03-31 00:00:00

HONg.Y.M ARKE4 and CIT Y NEWS.
.(MONDAViVENING.)
CHROSICLE:There iias a report that the Russian
expedition an''aitik Chiva hadsnet with serious reverses.
The English Funds were firmer in the earlier part of the
day, but theimprovement wag not maintained, although
money is easier, and the clOsfg prices are the same as Sa-
turday. Exelisktier Bills ,hilke advanced 25., being quoted
18s. to 205., .1"
!
The HarnttnEg snail which jitrrivcd to-day brings a fall
in the exchanges there of bilf a schelling, and a rise of
half a mark,inigold. This 'inverse movement in the Ex-
changes, co pared with gql4, will attract considerable at-
tention at tkpzpresent season, when, in consequence of the
northern iofi being about to- en for the spring trade; the
result mate supposed lb have some connection with ope-
rations inWe corn trade. %
The rumour which we noticed some days since, thatthe
Government intended to propose an increase ofts per cent.
on the Aisting taxes, has become a subject of general
conversation, supported gn the ground of its'. simplicity,
and as,being a practicable scheme of providing additional
means to supply the exigencies of the state wipSout adding
to the expense of collection, The plan has Certainly the
advantages of simplicity find freedom from cost of collec-
tion, so that the public Treasury would receive the full
benefit of the increase ; and, -therefore, if new taxes be
unavoidable, the principle 'seems a good one; but many
people think that a loan :would be preferable, as they
trust that there will be no cause for a '•permanent
addition to the present burdens of the country. Be-
sides, the imposition of a sweeping addition to them of
five per, cent., including the Customs, Excite, Stamps;
and Postage duties, VVOUITI ,be opposed to the principles of
free trade—counteracting , the purposes which we pre:
sume to have been contemplated in sending Dr. Bowring
to report on the tariff of the Prussian Commercial Uuioni
and in appointing Conimissicinets to enter upon the 'nego;
tiations now depending in regard to our commercial rein-
tions with Frtince,--while it would at once disturb the

.444tenco4 of tia penny. postage. If, on the other, hand,
the great brarches of revenue were to be exempted from
increase, the produce would be too limited to afford the
Chancellor of the Exchequer anything like effectual as-
sistance.

In the Foreign Market the principal occupation of the
jobbers and brokers was that of arranging their accounts
tor the settling, which takes
place to-morrow, which will
be an unusually heavy account in Spanish Active Stock.
These securities opened flat at 274 to I, but afterwards
advanced to 27a to :1, and ultimately closed at 272- to
Dutch Two-and-a-Half per Cents, continue to improve,
under the impression that the King of Holland has aban-
doned his intended marriage. A slight advance has also
taken place in Colombian and Mexican Stock.

TIMES.—Of money, it is stated that the rate is much
easier than last week, and that appearances altogether look
better in this respect. The effect has been a slight im-
provement in the money price of Consols and the un-
funded securities.

The unpopularity of the King of Holland's projected
marriage with the Countess d'Oultremont has long been
supposed to operate unfavourably on the price of Dutch
securities. Hence the intelligence that the King has re-
salved to desist from the marriage has had a visible effect,
and there has been a rise of nearly a in the price of the
Two-and-a-Half per Cents., which are quoted at 53e toe.
In Spanish Bonds the alteration has not been material.
Accoints from Khisa have been received in the city
this mornirg, by way of Constantinople, which state that
the R issians had been foiled in an attem}t to make them
selves masters of a fort in that country, and that a succes-
sic of cold and tempestuous weather had come on, which
svzs attended with great losses both of infantry and ca-
valry, so much so that the object of the expedition for the
present year was considered to be wholly frustrated. These
accounts ate believed in the best circles in the city. It
has been remarked that the climate of Khiva is so peculiar
that it depends for a supply of water on the fall of snow,
and hence that any expedition in weather not cold would
e utterly impossible, while, on the other hand, the cold
eather is so severe as to have the destruction of an army
as its probable result. Thus it seems any hostile move-
ment against this country must almost necessarily bring
tie aggres ing power into a dilemma.

SUN.—Up to the close of business on the Stock
Exchange, no confirmation was received of the reported
failure of the Russian expedition to Khiva, and it was
found difficult to trace the rumour to its source.

We were without any arrivals from abroad through-
out the day, except letters brought by a party said to
have arrived overland from Bombay, dated 16 days later
from Canton, and announcing the probability of an
amicable adjustment of the dispute between the Chinese
and British, in consequence of the arrival of the new
Commissioner.

The Funds closed pretty firmly this afternoon. Consols
for Money at 90 and for Time at 90,i ; Exchequer
Bills brought 17 to 00 prem., and East India Stock ad-
vanced from 249 to 260. . .

The market tin Spanish Bonds was rather better this
afternoon, the Actives having improved from 271 to 07i,
but at the close 27i was the current value. Portuguese
New Five per Cents. were. marked 34 to and the
Three per Cents. 24k. The South American invest-
ments were also the turn higher, Colombian Bonds
being at 29 ; Mexican at 28i, and Brazilian at 781.
The few bargains effected in the Railway Shares were
at about previous rates.

POLITICAL SUMMARY OF TilE
MORNING JoctriALs.

The Morning Herald of this day, speaking on the impor-
tant question of the Corn-laws, expresses itself as fellows
" The project of a fixed duty is the most pestilential
of
delusions. A fixed duty wou:d slowly, but surely, pau-
perise all the farmers of the kingdom. A fixed duty would
not remain in force for three years. A fixed duty would
leave the British farmer without the slightest measure of
real protection, while it would deprive him of sympathy
and of the means of rffecttve resistance to the scheme of
free-trade robbery."—The Times gives the following Tory
on dit:—" The Ministers arc in a great fright about Sir
James Graham's motion on the subject of China. Tog
most peremptory circular ever issued by a Minister
has been sent from the office of Lord John Russell,
dernaading the attendance of every Ministerial partisan
in the division of the 7th of April. The Cabinet is puzzled
as to the best course to pursue in its present. crisis. Some
of the Ministers propose that they should abide the result
of the division, and if beaten, resign. Another section
think it will be better to avoid the humiliation of defeat,
and dissolve the House before the day of debate, and thus
procure a little longer reign and another quarter's salary."
—The Morning Chronicle observes, with reference to this
night's expected debate on she Corn-laws, in the House
of Commons :—" On the reception and result of to-
night's motion for inquiry in the House of Commons it
depends whether the labourer's crying child shall have a
larger loaf, and the manufacturing capitalist a wider
market ; whether increasing supplies of food shall be at.
tainable for an increasing population ; whether operative
multitudes shall have any prospect of work and wages ; and
wnether the worth of the landowner's estate shall be en.
hanced by the growing prosperity of trade and commerce,
or sink in the deterioration that involves all other
classes threngh his blind cupidity."—The Morning
Advertiser thus expresses itself on the engrossing question