The Sun.
London, England, 1847-12-17 00:00:00

STATE SECURITIES.

Kentucky, 6 per cent. •••
Ditto, 5 per cent. ...
Illinois, 6 per cent. 1870 special
Indiana Bonds..
Arkansas, 6 percent.... ...
Alabama, 5 per cent.... ...
Pennsylvania, 5 per cent. ...
Maryland, 6 per cent. •••
Ditto, sterling... ...
Tennessee, 6 per cent. •••
Ditto, 5 per cent. ... •••

984- 991
... 80 84
... 38 38k
... 35 36
... 35 38
... 59 59
... 731 73
... 851 86
.. 73i 74
... 97 100
... 83 85

FOREIGN EXCHANGES.
Exchange on London ... ... 109 i to 110 i
„ on Paris ... ... 5.22 i „ 5.25
„ on Amsterdam ... 40 „ 401
„ on Hamburgh ... ... 351 „ 36
„ on Bremen ... ... 78i „ 79

MONEY and COMMERCIAL NEWS
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were
4,000 bales, of which 3,000 were American, and sold at
40. to 6d. per lb. The market closed quietly, and at
steady rates. Railway Shares were rather dull, and
previous rates were barely supported.
The condition of the markets for the State Stocks of
America, is a matter of no small import here and oa the
Continent, where there are so many holders of those
" mis-called Securities." Upon this point we are thus
advised in a paper that has this morning reached us from
New York.

" Prices of our beat Stocks have fallen several per
cent. within the last few days. Government Sixes have
sold below par, and a great depreciation in all other se-
curities has been realised. This is the result of the con-
traction and stringency in the money market. There is
nothing in the position of the general Government or the
States to create this decline. The financial affairs of
every state in the Union are daily improving, and the
General Government has nothing in the shape of a debt
likely to depreciate the market value of its stock as a
permanent investment. We have a debt of about fifty
millions of dollars, with a revenue rapidly increasing.
We have an income, over and above our ordinary annual
expenditure, large enough to pay the interest on a
public debt of two hundred millions of dollars. Eighteen
months of war have increased our debt only twenty-
seven millions of dollars, and eighteen months more of
war would not add one-half of that amount to the
present debt. Our financial and commercial systems
are based upon the soundest principles, and while
we are in the midst of a war of invasion, every
element of industry in every section of the Union is
in full activity, oar commerce is rapidly increasing.
immigration continues to be uninterrupted, the sales of
our public lands continues large, and the most healthy
prosperity exists in every department of business.
Compared with this, what a spectacle Great Britain
presents to the commercial world. We are rich, and
she is poor—not only poor, but on the eve of a revolu-
tion, which may blot out some of her institutions, and de-
stroy many of her resources. We hold within our limits
the greatest and moat important elements of wealth in
the world. Our cotton and corn will at all times com-
mand the precious metals of Europe, which will flow in
from the East, and while we hold possession of the
mines of Mexico, the precious metals will flow in from
the west in one steady, unbroken current. The effect
of this addition to our currency of gold and silver, must
he of the most favourable character. It will give us, in
the first place, a more valuable currency than we now
have, it will give us, in exchange for our products, the
only recognized evidence of wealth in all parts of the
world; it will finally give us the power of regulating
the prices of our exports, both at home and abroad, and
give us a position in the commercial world never before
enjoyed. We have, heretofore, almost entirely depended
upon foreign countries for any material increase to the
national wealth. Prices for our principal exporting.
staples in our own markets have been regulated en-
tirely by foreign capitalists. We have been in their
power so much that they have been able at any time
to depreciate the value of our cotton crop millions of
dollars. Prices of breadstuffs have even been con
trolled by them, and we have suffered some inconve-
nience by being so dependent. The times have expe-
rienced a wonderful change."
The proceedings in Parliament last evening, relative
to the proposals of her Majesty's Ministers for the re-
moval of the Jewish disabilities, have been read with
deep interest in the City this morning. Numerous,
indeed, is the body of merchants and traders who, from
constant dealings with the Hebrews, can attest their
honourable feelings and conduct in grave matters of busi-
ness. It is most sanguinely hoped here that the elected
Hebrew will soon be allowed to take his seat in the
House of Commons.

The General Steam Navigation Company's mail
steamer, the Wilberforce, has just arrived from Ham-
burgh, having bullion on board of the value of aboul
7,4001.

There has been a heavy market for Consols for the
Account to-day, sales having been made at 85; after the
value was per cent. higher. The Reduced Three per
Cent. Annuities have receded in the same proportion as
Consols. Exchequer-bills are firm at 7s. to 10s. premium.
India Bonds have been taken at 15s. discount.
Mexican Bonds have fluctuated from 17i to 18, and are
now at the opening value. The Spanish Five per Cents.
are at 17f for Money and Time. In the other Foreign
Stocks the dealings have been slight.
There is not any change of importance to notice in
the market for the Railway Shares, but they are evi-
dently drooping still, and wo anticipate no revival of
business this side of Christmas.

ONE
PRICES OF BRITISH FUNDS. O'CLOCK.
3 por Cent. Reduced Anns.. 84% 85 84%
New 314 per Cent. Anns B6ll %%
Long Anna. to expire J an. 1860 -16
Ditto, Oct. 10, 1859 .....
India Bonds, 1,0001.
Ditto under 1,0001 l5 20 dis
Consols for Account... 851A% 85
Exchequer Bills. 3d.
1,0001. ..
5001.
Small

CLOSING
PRICES

868
8 9-16
8%
15 die
14 dii
85%