The Sun.
London, England, 1840-11-03 00:00:00

--------
MONEY MARKET and CITY NEWS.

(MONDAY EVENING.)
TIMES.—The state of the finances laid by the
Dutch Minister before the States-General seems so far
to have given satisfaction, that the budgets of past years
are avowed to have been incorrect, and hence the in-
creased expenditure specified in the present budget
shows at least a desire on the part of the Government to
act with more openness. At the same time it is ob-
servil that the operation by which it is proposed to
corer the deficit of 34,000,000 florins is somewhat in-
tricate, and that the substitution of one debt for another
is rather calculated to m3stify the public.
According to the best information received on the
subject, it appears that the Government will create
18,000,000 florins of 5 per cent. stock, to be inscribed
in the great book, that is charged on the revenues. of
the country itself, and not on those of the
i co.lonisaies.
Ot the stock so created only two-thirds are, tis d,
to be issued in 1841. There is also to be issued
10,000,000 of a similar stock to pay off the same
amount of Treasury Bills. It seems rather singular that
after the restriction against issuing more than two-thirds
of the 18,000,000, there should be a power to issue
10,000,000 additional stock ; but this apparent incon-
sistency is explained by supposing that the Government,
by merely substituting a funded for an unfunded debt,
do not consider the stock an absolutely new creation.
To cover the balance between these stocks and the de-
ficiency 8,000,000 bills at 43 per cent. will, it is said,
be issued, with a proviso that no more than 6,000,000
shall be in circulation at a time. These are to be re-
deemable every three months, and precaution is to be
taken that no more than 2,000,000 shall come in every
month. There is every reason to believe that the par-
ticulars above stated are to'erably accurate, but it must
he confessed that the operation is a little obscure, while
it is hard to conceive the object of extinguishing Trea-
sury Bills with one hand, and creating them with an-
other. It need not be remarked that the mere circum-
stance of having given in statements of revenue ad-
mitted now to be incorrect, has produced an unfavour-
able disposition in our capitalists towards the Dutch
Government.
An opinion in favour of the preservation of the
peaceful relations with France is pretty general among
the trading interest ; a particular interest which may
be quoted is that of the French brandy trade, who rea-
son from the proceedings of the principal French houses
that the completion of the commercial treaty is yet in
contemplation. It is the practice of the trade for the
principal houses to issue circulars, whereby they agree
for a given ti rew to supply brandies at a certain fixed
price. Havine done so, they are in a measure bound
to supply on no other terms, and if their orders come
after a change of circumstances renders a sale at the
fixed price unprofitable, their only course is to refuse
them altogether until the appointed period shall have
expired. On this occasion the orders of brandy have
been most extensive, and the French houses have re-
fused to execute any more. Now, as the treaty would
cause a great reduction in the duties on French brandies,
and a consequently increased demand, it is inferred
that the French houses act on the supposition that the
treaty will be executed, as a rise in the bonded price,
which is the only price which rules the market, would
be the immediate consequence of such a circumstance,
and render it impossible for them to sell without loss at
the present price. This is an argument among the
trade, and it must be confessed an ingenious one, in
favour of peace.
Private letters from Lisbon state that the sums re-
mitted by the Portuguese Government to England, in
bills taken by the Bank on account of the dividend
which the bondholders are to receive next December or
January, including the sum to be forwarded this day,
amount to something between 39,0001. and 40,000/. ;
but the ensuing revenue from the Customs, as well as
the tobacco contract, have already been mortgaged to
a much more considerable amount, although they have
been applied to meet other demands. The present
yearly importation of Newfoundland and other codfish
is about 80,000 quintals in Lisbon, 50,000 quintals in
Oporto, 12,000 quintals in Figueira, 300 quintals in
Vianna, and 500 quintals in Faro—in all, 150,000
quit.tals, while before 1834 it amounted to i 40,000
quintals. The present prices, including duty and land-
ing charges of 1,700 reis par quintal, are from 4,900
reis to 5,300 reis per quintal, while the 11,000 quin-
tals brought in by the Portuguese themselves in their
own schooners have obtained 4,800 reis, out of which
they do not pay any duties.
M. Aicardi, late Sardinian Consul at Madeira, is said
to have sailed on Tuesday for that island, charged by
the Grand Master, Hydaspe, of the opposition Carbo-
narian Club (the legitimate one is presided over by the
Senator Gonsalves de Miranda) with full powers to in-
stitute a section of the Lisbon fraternity at Madeira.
It appears that J. B. Moreira, the protector of the slave
trade, will not be received as Portuguese Consul-General.
Although it has been shown by a deputy, member of
the Finance Committee, that by establishing a just
rate on each house or estate proprietor, the impost of
the decima alone might be increased by 400 contos, or
100,0001. nearly, it has been determined that the taxes
for the year 1840.41 be collected according to the de-
fective assessment of 1837.

POST.—An Act of Parliament was obtained, in
15;36, for the formation of a railway from London to the
'Thames Haven Dock, a few miles below Tilbury Fort,
but the project was never carried into execution, on
account of the difficulty there was of coming to an ar-
rangement with the Eastern Counties Railway Com-
pany for the use of that portion of the line into town
from Romford, where'it was proposed thaThames Haven
line should join it. It would appear, however from a
prospectus which has been sent to us, that this diffi-
culty has at length been surmounted, and that the
share list will now be filled up, and the under-
taking proceeded with as quickly as possible. The
object of the projectors is to substitute for
the tedious thirty-five miles of river navigation
between London and the Thames Haven Dock
twenty-four miles of railway travelling, and the
scheme has certainly strong claims to the support of
the public, the delays arising from an opposing tide, and
the inconvenience, especially to females and children, of
embarking on board of, and landing from, steam-vessels,
at the different places below London-bridge, being often
quite intolerable. It is found that passengers putting
themselves on the line at. the Thames Haven Dock may
economise in time four hours on an average, and they
v-ill profit at least as much in comfort and convenience,
particularly those coming from a distance, and who have
been suff,ring the fatigues usually attendant upon sea
excursions. The plats has much besides all this to re-
commend it. For the conveyance of merchandise from
the dock to the metropolis it will of course prove a
valuable acquisition. Vessels availing themselves of
the accommodation of this new dock, when completed,
will rave much in the article of fuel alone ; but we
should be disposed to favour the project were it only on
account of the effect it will have of obviating much of the
confusion caused by an over-crowded state of the river,
and of preventing many of those lamentable accidents
which take plane in consequence among the shipping.
Of the expense to be incurred in the completion of the
flock and its adjunct, the railway, we gather no very
precise idea from the prospectus, nor are we enabled to
offer an opinion as to the eligibility of the speculation,
considered in a commercial sense, and as an investment
merely. These are pointii, indeed, upon which we
should refrain from speaking under any circumstances,
as it is for capitalists alone to judge of the advantages
to be expected from a participation in the projects laid
before theirs.
The delay which has taken place ia the promised pay-
ment of the hall-yev's dividend on the Chilian debt duo
in September, at the reduced rate of 3 per cent. per
annum, or 1 i per cent. six months, has been
excused on the ground that the bill of lading for the
remittance required to make good the amount bad not
come forward. It is said, in fact, that it did not reach
the hands of Senor Rosales until to-day. There will
now, we are assured, be no further postponement of the
matter. On a reference to our advertising columns,
an announcement of the precise time of payment may
probably be found inserted simultaneously with this
explanation.

SUN. T
here was no news worth alluding to in
the City this afternoon.
A Rood deal of co
nversation has been excited in the
City, by the
thcircumstancee of the liabilities of a He-
brew jobber in funds, who failed some time since
fora large amount,
not having yet been covered, al-
though his relatives haveliquidated the claims of many
parties, and, from their immense wealth, have ample
weans of doing justice to the
have,
they have done, they
suspicion withrest.
of somefa appearance of
In going as far as
reason, incurred the
we trust any favouritism
uritism and un-
byiedpeohrseuvrweeneot
prevented
d theby tdue preference ; but
hear is
un-
fortunate individual's affairs,
threatened by the sufferers, will
early arrangement of all demands on him.
The Ist of November is one of the annual holidY2
at the Bank of England, but as this fell on a
sunlg
this year, it was kept to-day. The Stock Exchanay
was consequently very thinly attended, and but a limited
business business was done. Consols closed at z'47l j for money,
and 88 to * for account. Exchequer Bills touched par.
The IndiaeHal per Cents., brought 07
to i, and Stock declined to 242.
The Foreign securities were not much dealt in on
the whole, but at the same time they were not neglected.
Portuguese New Five per Cents. rose from 32 k to
9,1 and 33i ; and the Three pet" Cents. advanced to
•
ii• Chilian Bonds were steady at .3'2; Colombian
broughtn 23i to f.i
, and Mexican 271 to .
Bo Brazil
4.
tsowere 74i, and Dutch Two-and-11-Half per Cents.
:,0
tireal.
Weat
en r Railway Shares 141 to 151 premium,
and .Blackwall 5
discount.

Sir Francis Burdett, Bart., M.P., has quite re,-
covemd from the effects of his late accident.
The election for Lord Provost of Edinburgh
takes place this day, when a strenuous contest is expect-
ed between Sir James Forrest, the present Provost and
Nor.-lAtrusionist, and Mr. Ad Black, the well-known
publisher and DWerner