The Sun.
London, England, 1840-03-19 00:00:00

THE SI 'N, LONDON._ THURSDAY, MARCH 19_,._18.4Q,,_

LONDON:
THURSDAY, MARCH 19, 1141.

The Peers did not meet yesterday.
In the Commons Lord G. BENTINCL wr•hdrew the
Bill for inclosi g the great level of the Nash, and also
wiirhdrew his motion for leave to bring in another Bill.
A considerable number of petitions was presented
bath for and against the Corn-laws. In the case of
those presented by Sir .I. Y. BULLER, it is worthy of
notice that petitions to preserve the starvation laws and
o extend the Church go together. The authors of
hose petitions would kill the body and save the soul,
and like the inquisitors of old think more of peopling
1.46 a en than earth.

On Lord Howtc K's motion, a report from the Corn-
Illittee on printed papers was brought up, and laid on
the table.

The report on the Cheshire, Crewe, and Grand
Junction Railway Bill was agreed to, after some little
discussion as to as irregularity in proposing the amend-
ments.

Notices of motions were given by Mr. HODGES, for
Tuesday, the 04th, for leave to bring in a Bill to make
the ancient constabulary effective ; by Mr. PICOT, for
leave to bring in a Bill to amend the Irish Tale Act ;
and by Mr. BOLDEEO, to draw attention on Friday to
the discipline of the Military Academy at Woolwich.
The Alministration of Justice ( Ireland) Bill was
read a second time ; the Ejectment and Replevin Bill
was postponed for a fortnight.
The Settled Estates Drainage Bill was read a second
time, after some little opposition by Sir E. SUGOEN, on
the ground that it would enable tenants for life to en-
cumber an estate. Mr. PUSEY stated that he meant to
reter it to a Select Committee.
The Union Workhouses Bill went through a Commit-
tee without essential alteration, the clause which Cap-
tain PECHELL proposed having been withdrawn, in con-
sequence of the Chairman declaring that it did not come
within the scope of the Bill.
The Prisons Bill was committed pro farina, and at
Half-past. Six the House adjourned.

We have not found room till to-day to insert the
report of the proceedings of the Manchester Chain-

ber of Commerce on Thursday last, in adopting a
petition for the abolition of the Corn-laws. They
will be found as instructive as the proceedings of
that body have generally been of late in relation
to this all-important question. Glory, honour; ex-
tent of dominion, learning, literature, science, the
Church, may all he dispensed with, but for the
nation to continue in existence, our people must be
fed ; and till they have ensured themselves an
ample and free supply of food, every other topic is of
secondary interest and importance. The Manchester
men have made considerable progress since last
year, and now they demand the entire repeal
of these laws, and that they be " forthwith" re-
pealed. A similar progress has been made, we
believe, throughout the country, and total and im-
mediate repeal has become the general demand.
Petitions to this effect are pouring in on the House
of Commons, and they will be sent in from every
manufacturing village, from not a small number of
agricultural villages, and from every factory and
workshop of the kingdom. We trust, too, that
the Dissenters generally will follow the hint of Dr.
PYE SMITH, and that Congregational petitions
against the Moloch law for starving the people will
he sent from every Dissenting body in the empire.
The prodigious effect of the petitions for the Penny
Postage is fresh in the public recollection. We
are at this moment enjoying the advantages of
the exertions made last year ; and inasmuch
as the repeal of the Corn-laws would be
more generally and extensively beneficial than
the Penny Postage,-2S it will not diminish but
augment the Revenue, we may look for correspond-
ing increased exertions and corresponding triumphant
effects. We know that those who have undertaken to
guise this great national movement are keenly alive
to these circumstances, and we have reason to sup-
pose that petitions, numerous beyond example, and
numerously signed, will be sent to the House of
Commons for the total and immediate repeal of the
Corn-laws.

The proceedings at Manchester are important
also as showing the high moral feeling which
guides the petitioners. The repeal is no longer
argued as a question of expediency—though that
is on our side—for when was justice inexpedient
or as a question of statistics degenerating into
a haggle about the fraction of a penny in the
prices of corn and labour here and in other countries
—though all the statistical facts are favourable to
repeal ; but it is argued as a question of right and
wrong—of justice and injustice ; and the State is
told it has no right to make a law to tax thein-
dustrious millions to enrich a few idle landlords.
The abominable inhumanity of the law is dwelt on
more than its effects in diminishing the national re-
sources, though, happily for the welfare of the com-
munity, the latter would be increased by departing
from the former. We will not, however, quote
any passages from the abridged report, but recom-
mend the whole to the perusal of our readers.
There is one point which we will endeavour
to place in a proper light before them. Mr.
VAN BUREN, in his last Message to Con-
gress, spoke emphatically of the danger of
making one nation dependent on another
for its food, and his sentiment has been seized by
all the Corn-law men as a god-send. The To-
ries, for once in their political lives, have found
great wisdom in the words of a Republican Pre-
sident. Such a sentiment may be cheaply enter•
tained by Mr. VAN BUREN, with an immense con-
tinent for his countrymen yet to conquer, and whose
business it is, as it was the business of our alters- I
tors, ten centuries ago, to devote themselves chiefly
to agriculture. But we have no such unoccupied
tracts. Every acre here has an owner, and inde-
pendence of foreigners is here utter and hopeless de-
pendence, for the bulk of the community, the com-
paratively few persons who are the fortunate 1101-
ders of land. The ruling Aristocracy may use
such a phrase, and seek to convince the people that
it means something very grand and magnificent,
but, as applied to the Corn-laws, it means, not the
independence, but the dependence and slavery of
every man but a landowner.
In Mr. VAN BUREN'S country the mass of the
community constitute and control the Government.
The independence of the Government of the United
States, its free and unhampered action, is the inde-
pendence of the whole people. Here the landowners
almost exclusively constitute one branch of the Le-
gislature. They have a predominating influence in
the other, and in both direct and govern the Crown.
Over the House of Commons only one fifth, or less,
of the community has any direct influence or con-
trol. What is meant, therefore, by political inde-
pendence in our country, is something totally dif-
ferent from political independence in the United
States. Here the free and unhampered action of
the Government means little more than that the few
landlords, and their allies and friends, the priests,
may do as they please ; and the more independent
and free is our Government, the more arrogantly it
treats the mass of the people, and the more means
it acquires to enslave them. When the aristo-
cracy was hampered by the American war, it
granted freedom of trade to Ireland. When it shall
again be in difficulties, and not before, it will grant
freedom of trade to the millions whom it now plun-
ders under the false pretence of protecting agri-
culture. It is a complete delusion, therefore, to
suppose the same happy condition of freedom under
the term independence in England and the United
States.

But if independence be, in the sense of the aris-
tocracy, so important, it exists not now, and might
exist were the Corn-laws abolished. We are now
obliged to import 2,000,000 quarters of corn
annually on the average, and because we do not go
regularly to all the markets of the world, when
we want food, we can only get it from one or two
places. We are now completely dependent on foreign-
ers, and with that a large number of persons are
starved every year. Were the Corn-laws abolished,
the expense of cultivation would be so much re-
duced that our country would probably grow more
food than at present, and would be less dependent
on any one country by the competition of several
to supply our wants.
In our advanced stage of civilization, inde-
pendence, such as was the condition of our an-
cestors, when the land was not one fourth occupied ,
and such as is now the condition of the United States,
is impossible; and, if it were possible, is not desirable.
The language of Mr. VAN BUREN, in fact, re-
presents one of those time-honoured traditional sen-
timents which pass from age to age without exa-
mination, till they arc suddenly found at issue with
some leading fact, and then it is discovered that
they are no longer suitable to the circumstances of
mankind. For the landowners to tell our starving
cotton manufacturers, who live by working up a
foreign product, and selling it in a foreign market, of
nations! independence, in their sense, is nothing
better than a heartless mockery of the distress and
sufferings which are eaused by their unscrupulous
avarice.

We have of late so fully exposed the injustice
of the piratical exactions, unfortunately but too fa-
miliar to out merchants trading with Hamburgh,
under the denomination of " Stade Duties," that
we cannot suppose any of our readers either unac-
quainted with their enormity, or indifferent to their
abolition. It is, therefore, with much satisfaction
that we announce that Mr. HUTT—to whose pa-
triotism the country is mainly indebted for directing
public attention to this question—will this evening
following
ibring. the subject of the Stade Duties under the
support of every
iotice of the House of Commons, by moving the
resolution, which we trust will receive the
re-
sisted without exciting the
and which cannot be
'IEI ‘ '
t 3 e l e ‘ b.
uniteldting the suspicion of every honest
man in the
Kingdomieclup:o—n British ships and car-
goes in the river
Hanover, under the name
,f,, the authority of the King of
doubt-
ful legality, oppressive in o Stade Duties, are of
mode of exaction ; and amount,that it
and highly vexatious in the
her Majesty's Government toit is
stherefore incumbent upon
procuring relief from imposts take.. the
.steps necessary for
interests of the country." 'o injurious to the general
We arc prepared for some quibbling
I << doubtful
and, to say the
truth, no man who is conversant with the ,
have any doubts at all respecting them. "They call
1 piraticalexactions, and lll.
"eY are
nothing else.
The only
are
i law that upholds them is that by which they
collected—that of force. The law of custom, or
1 prescription, cannot apply here, because the ori-
ginal conditions have been departed from. On
a former occasion, we gave the historical
details of the origin and continuance of the Stade
I tolls. We showed that originally they were a
perquisite granted to the Archbishop of HANt-
BURGH in the year 1038, by CONRAD 11., Em-
peror of Germany, for ecclesiastical purposes, end
that they were leviable only upon goods landed at
Stade, and exposed for sale in the market esta-

blished there by the Archbishop. By the Treaty
of Westphalia, the Duchy of Bremen, in which the
town of Stade is situated, was ceded to Sweden,

and as Kings never scruple to avail themselves of
any pretensions to taxes, the Archiepiscopal impost
upon commodities landed at Stade was Royally
extended to all merchandize passing up the liver,
except under the Hamburgh flag. In 1712,
Denmark having wrested the Duchies of Bremen
and Verden from Sweden, sold them three years
after to GEORGE J., King of Great Britain and
Elector of Hanover, for 150,0001., paid out of the
Treasury of this country. This purchase was, as
we before explained, of doubtful morality ; and but
for the sudden death of the King of SWEDEN, the
King of ENGLAND could not have long retained
it. Buc the Stade Duties, though then com-
paratively trifling in amount, pressed heavily upon
our German trade, and the hope of relief made the
country less scrupulous than it otherwise would
have been on the score of the honesty of the ac-
quisition. But GEORGE I. cared more about his
German than his British dominions ; and finding
that WALPOLE and TOWNSEND allowed him to
put the revenues of the ill-gotten Duchies'into his
own pocket, he scrupled not to inc-ease instead of
reducing the Stade tolls, and to so regulate them
in his capacity as Elector of Hanover, as to shut
out entirely all interference on the part of the Bri-
tish Parliament. His Ministers were toa timid,
or too dishonest to remonstrate against conduct so
scandalously and flagrantly unjust towards the
people of this country. They had not the firmness
or the patriotism to represent tl their Royal Master
that the Duchies belonged not to him as Elector of
Hanover, but as King of England, and that if the
Parliament generously allowed him to pocket the
other revenues of these Duchies without a question
as to their amount or application, the least return
he could make was to place British shipping on the
same footing as the shipping of Hamburgh in the
waters of the Elbe.

What GEORGE I. was suffered to do, his suc-
cessors down to the date of the separation of the
Crowns of England and Hanover assumed a right
to perpetuate. No Minister was daring enough to
prefer the interests of his country to the displea-
sure of his Sovereign, which he would certainly
have incurred had he proposed to Parliament any
address for the abolition of the Stade Duties.
The country complained and remonstrated ; but no
complaint or remonstrance was suffered to reach the
Royal ear. The merchants forwarded memorials
to Ministers which were never read, and which,
when they accumulated so as to encumber the Pub-
lic Offices, were either sold as waste-paper, or
burned, like Lord MONTEAGLE'S Exchequer du-
plicates.
But affairs have taken a new turn. The SOVE-
REIGN of Great Britain no longer pockets the
Stade Duties, and of course the Government sees
them in quite a new light. This is the mote ne-
cessary, as the German Commercial League is
already inflicting a very serious injury upon our
trade with Hamburgh, which, we have reason to
fear, will be all but destroyed, if steps are not im-
mediately taken, either to abolish or greatly reduce
these Duties.

We before quoted Mr. HUTT'S pamphlet, to
show that no advantage in the shape of buoys,
beacons, lights, &c , was offered by the KING of
HANOVER for the Stade Duties. We now quote
from the forthcoming Report of Dr. BOWRING,
"On the Prussian Commercial Union," the follow-
ing paragraph to the same effect :

is that the Stade duties are levied on
account of any services rendered ; neither light houses nor
buoys, nor protection of any sort. They have grown in
amount, and have been often exacted most capriciously,
while heavy fines have frequently been levied for any—
even the slightest irregularity in reference to them. The
vexatious character of the Stade Duties is universally com-
plained of ; the right to exact them at all is much called in
question."
Be it observed, that the right to exact these tolls
was not only called in question by individuals but
by Sovereign States. So late as the year 1824,
the Government of Denmark, in an official Note,
questioned the right of the Sovereign of HANOVER
t' these duties, but as they were calculated to put
from 60,000/. to 70,000/. sterling in the KING'S
pocket, the remonstrances of Denmark were un-
heeded. As Dr. BOWRING'S Report throws
great light upon this question, and completely con-
firms the statements and views of Mr. HUTT, we
cannot but feel r,gret that it was not presented to
Parliament before the Hon. Gentleman's resolution
was submitted to it. But we can predict the re-
sult. Lord PALmERsToN will plead the absence
of the official Report, the negociations now going
forward, and Mr. HUTT will withdraw his resolu-
tion, after receiving a pledge from the Government
that the question will be adjusted with all possible
dispatch. Nor is such a result any longer unim-
portant. On this question at least, the present
Ministers of Queen VICTORIA will not be slow to
redcem any pledge made to a.* House of Commons.

The Brussels Papers received this morning state that
King LEOPOLD had not accepted the resignation of his
Ministers up to Tuesday morning, but that there was
no doubt of his ultimately doing so.

Letters from Vienna of the 9th instant announce the
departure of Count ST. AULAIRE, the French Ambas-
sador, for Parrs, on learning that M. THIERS had suc-
ceeded in forming a Cabinet.
. Great preparations were making at Belgrade, for
giving a grand reception to Prince MICHAEL of Servia
on his return from the Porte. The public buildings
were to be all illuminated.

riE.LtiIAN k 13 NDS—Bitueekti, MANCH 1 '.
Actual Delst, 2Y,', per Cent.
Rothschild's Loan, 5 per Cent ...... 1 2
Loan of Thirty Millions, 4 per Cent.... ..... 95
3 per Cent. 74
Loan of City, 1832, 4 per Cent 9*,
Society of Commerce, 41iper Cent lo9k
Bank of Belgium, 5 per Cent. 9911
National Society . ii
Exchange on London (short)
—Brussels Papers, March 17.
DUTCH FUNDS.—AMSTERUAM, MARCH H.
Money. Bills.
Actual Dcbt, 2!4 per Cent
Ditto, ditto 5 per cent.
Ainort Si ndic,4t.l, per cent..................
Ditto, ditto, 3;4 percent 7514 701,t
Commercial Company, 41:2 per cent 17614 177)4
Ditto (1832 and 1833) 5 per cent.
Ditto 1837, 5 per cent.
Loan 1837, 5 per cent. t tti ' fitiN,
Exchange on London, One month 1 1 95
Two months
—Dutch Papers, March 17.
AUSTRIAN FUNDS.—VIENNA, MARCss 9.
___

Five per Cents. Mctalliques
Four per Cents.
Three per Cents. ...... ......... .... ...............
Bank Shares :Kt
—Aligemeine &Rung. March 14
PRUSSIAN FUNDS.— BERLIN, MARCR 13.
Bills. Money.
R. Schuld. 3ch., 44, per cent. - 1041, 103+.,
Prussian English Loan, 1830, 4 per cent. 1035 1004
lizeliange on Landon, three months... 6 XO7
—.Prussian State Gazette, March 11.

The only domestic news of interest in the French
Journals of Tuesday relates to the dearness of provi-
sions, especially butchers' meat, and the extreme dis-
tress of the manufacturing classes in the South of
France. The Censeur de Lyons states, that all the
resources of the operatives of that city are exhausted.
The) have been obliged to sell for almost nothing their
looms and the necessary tools for citifying on their
trades, in order to buy bread, and these they must re-
purchase at an exorbitant rate when work becomes
plentiful. Their clothes have been pawned, and as
the bankers have refused to advance any more money
to the manufacturers, the prospect on all sides is hope-
lessly gloomy. To alleviate the general distress, the
butchers of Lyons, Strasburg, and Paris, petitioned
the Chamber of Deputies, on Monday, to reduce the
import duty on foreign cattle, but the landlords, alarmed
at a proposal for lowering the price of food, rejected
their petitions. Like the English Corn-law monopolists,
the French landlords in 1822 procured an Act of the
Legislature for raising the import duty on foreign
cattle, from three francs to fifty-five, (21.25.), under
the pretence of improving the domestic growth of cattle.
Since that period the want of butchers' meat has been
constantly complained of in France, where the great
subdivision of land renders the increase of cattle im-
possible ; but the landlords finding that the
robbery of the poor enriched them, by securing
them a famine price for bad meat, refused to alter the
law. On the other side of the Rhine there is an abun.
dimes, of excellent cattle, which, could they bi imported
into France duty free, would afford instant relief to the
starving people ; but when the subject was mooted on
titn the
tii:noeicti,dase,:i iis r ay General BtXGEAUD, of African notoriety, ex-
claimed, in the true spirit of the starve-the-poor landed
and Austrian
Aristocracy,
graotnhetrheseseoial nofiniv,,raasniocret otitialn3ruanssi
ja:
vasion of their cattle : for the military invasion would
p away,
the but
i.otrht t
y of admissiont he
toefr foreignrit o
and cattle would
diminish
reduce,
by three-fourths, the value of tha+. great capital
which is invested in land." Heaven help the constitu-
ency that is represented by such a military dolt as
BUGEAUD—this heartless lump of stolid inanity. We
need not wonder to sec the labouring classes hungry
and naked, and the victims of every low and degrading
vice to which hunger and nakedness are temptations,
when we find legislators preferring the horrors of war
on the domestic soil to a free interchange of the pro-
ducts of the earth, and of human industry, among neigh-
bouring nations. With such men as General BUGEAUD
(oS ke
nagt e ,elwa
shsaets oaurgeh te
nwdeu troi
ge x pt
he ce t
iblou
rt orsheoafr
ptlriaot.
juriaominnaell's state that the King of the BELGIANS
and her Royal Highness the Duchess of KENT will bc

present at the marriage of the Duke tit Isltmoht§ with
the Princess- VicTuaiA Saite:ChbOlg. The Dlittipsg,
will first proceed to Brusselse and accompany the
KING and the PRINCESS to Paris.

Lord GRANVILLE has had several long interviews
with M. TIIIERS. The subject of their conference is
said to be the Commercial Treaty.
The Emperor of RtissiA has given permission to the
Duke DE BORDEAUX to reside hi Lilly city of the ern=
pire, the capital only excepted.
On the subject of the insult lately offered to the Hus=
sian flag at Alexandria, we find the following extract
from a letter from Alexandria, dated the 26th ult., in
the Gazetir. du Midi :
" The Consul of Russia has obtained full satisfaction for the
offence lately offered to the Russian flag. The Commander of
the Egyptian ship No. 2, whose crew carried off the Rus-
sian Captain, has been sentenced to 18 days' forced arrest, and
the Officer who went on board his vessel is to be dismissed.
Mehemet AU, moreover, has sent to the Consul, Sami Bey, a
Germral, and his first Aide• de-camp, accompanied by his second
interpreter, Chosrew Effendi, who made every possible apology
in his name to that functionary in presence of all the Officers e
the Consulate and the Russian Cartaiiis,"
The following pre.gtaph from the Moniteur• includes
the lotett =iv's from Africa :

" Miring the first days of the month the bad weather suspended
the march of the convoys of provisions, which were, however,
to have been resumed on the 9th. On the fith atit:i wonted
Arabs appeared between Belidah and Pottrittitik. the bri
gade of the Ist division hathig marched against them, they im-
mediately took to flight, and recrossed the Chiffa. The advice=
frem the interior announced the arrival of Abd-el-Kader at
Medeah, and his preparations for a new attack.
" Marshal Vallee writes, under date the Bth inst., that the
weather having beerirre favourable, the troops were about com-
mencing a movement towards the Chiffa, and that he would
place himself at their head, In order to proceed with some pre-
liminary operations, preparatory to the opening of the campaign.
Ste time ago we spoke of the singular pretensions put for-
ward by the Neapolitan Government, and which have caused two
Maltese subjects to be summoned to appear before the Criminal
Tribunal of Catalonia. The Portafoglio Maltese, in its
number of the IM of this month, connects this circumstance
with the re-establishment of the Order of Malta by the King
of Naples, and considers it to be designed to preserve the claim
to the alto domino which it formerly exercised over that is'and,
and which it would again claim in case that a general revolu-
tion, which it seems intended to excite, should again over-
throw all the existing distributions of territory.
The enulTier de Bordeaux continues to give news front
Espartero's head-quarters.
" Head-quarters, 111uniesa, March 9.

" Th- taking of Segura has greatly disconcerted our enemies,
and desertions from their ranks increase, for the Carlist soldier
beg:ns to lose his illusions.
" General Castnnetla has been removed from the command
of his division. lam ignorant of the cause of his disgrace, and
of the name of his successor.
" The head-quarters move to-day, and in a few days we shall
make a serious attack on Castelutte and Aliaga, unless these
positions should be abandoned on our approach, Vrhieli appears
to be probable, judging by the diligence with which the enemy
are removing every thing they can from these two places, of
which we hope at all events to be masters by the 2.0 th."
Phare des Pyrennees publishes the following article :
" Cabrera has returned towards Moro de Ebro. His par-
tizans affirm that he intends to go into France at the Sret check,
which cannot fail to be decisive."—Le Comment.
BOURSE.—Pekes, TUESDAY, MARCH 17.

, .
f irst Highest Lowest Last
Price Price. Price Price
• reach 5 per Cents ll3 40 ... 113 60 ... 113 21) ... 1 3 60
4 per Cents lO2 ... .C 2 ... 102 ... 102
3 per Cents B3 50 .. 83 70 ... ti 3 45 ... 83 70
Bank of erance 3173 —.3.75 —.3172 50 —3172 S'i
Latlitte Bank I,ooof. Sh 1062 50 _1062 50 ...1161 50 —1 12 50
5,0000 Sh 5195 ...5195 ...5193 ...5045
Belgian Bank No „, 91!1 „, 0(0 ... 91.1
5 -,,er Cents 10314 ... 103% ... 105 N ... 103%
3 per Cents 74 80 ... 15 ... 74 SO ... 75
Dutch *6 per Cents 53% ... 5114 ... 53k ... 53!.9
Spanish Ac . ive 2.9% ... 2.9% ...2954 ... 20%
Passive 734 ... 7% ... 7% ... 7%
Old Deferred
Portuguese 3 per Cents 23% ... 23% ... 23% ... 23
Sea, ontan
Roman lO3 ... 10i% ... 103% ....83%
RAIL :V A Y SHARES.
St. Germain
Versailles, R. B 552 50 ... 555 ... 552 50 ... 355
LB 3`:.5 ... 307 50 ... 363 ... 3e,5
Bordeaux to La 'leste
Orleans .
Strasourg to Bale 737 50 ... nv ... 737 50 ... t.,60

MONEY and COMMERCIAL NEWS.

CITY, TWELVE O'CLOCK.

LIVERPOOL COTTON MARKET, WEDNESDAY.—The mar-
ket to-day is very dull, only 1,800 bags have been sold.
No alteration in prices.

We have received the Journal of Antwerp of yester-
day's date.
HAGUE, MARCH 15.—1 n addition to the several projects
of the law which will be presented to the States-General
after the opening of the Chambers, will be submitted to
their examination seven projects of the law, hating for
their object the revision of the fundamental law, the exact
statement of the revenues of our East India possessions,
the debt of the Court of Account, and the revenues of the
Crown.

It is stated that the Civil List is to be reduced to
1,500,000 florins.
Accounts from Utrecht of the 14th state that the Dutch
and Belgian Commission there daily meet in one of the
ancient palaces, and their discussions continue without any
obstacles. _ _

EXCHANGE OF AMSTERDAM, MARCH 16.---In the Inte-
graies a great deal of business has been done. Although
there were a number of sellers for Interior Account, the
prices were maintained. The other national funds remain
without variation.

The improvement at Antwerp of Spanish had no effect
on our prices.

Ardoln's is heavy, which is owing to the mail not bavine
arrived from Paris.

We have received Montreal papers this morning to the
16th February.
Tim LUMBER TRADE.—We were unable to get back
from a tour of inspection up this river in time to prepare
our yearly statement of the different kinds of timber for
this day's paper. We are, however, enabled to state from
the best information that could be obtained on the subject,
that the quantity getting out far exceeds that of former
years ; should the season prove favourable, there will be
above 10 millions of feet of timber brought from the Attawa
and its tributary streams above the Chats, while the average
quantity of former years has not exceeded six millions from
the same quarter.7-Bytown Gazettr.
The Philadelphia Papers of the 18th February state
that more than 70 manufacturing establishments in New
England have suspended operations.
DECLINE OF REAL ESTATE IN NEW ORLEANS ....The
New Orleans Papers state that eight lots, situated in
Tehoupitolas-street, with the appurtenances, sold at the
St. Louis Exchange for five thousand dollars; a few years
since the same property brought 25 thousand dollars.
We are exceedingly ill off this morning for arrivals,
only the usual foreign mails, French and Ostend, with one
arrival of ship-letters from Bahia. In consequence of
which there is little or nothing doing as yet in the British
Market.

The two Jamaica mails still remain over due ; they are
anxiously looked for. This, no doubt, is owing to the pre-
vailing north-easterly winds.

TUE FUNDS.

Consols opened this morning at the leaving-off prices of
yesterday, 901 Money; Account, 91 ; Exchequer Bills,
17 19 prem. ; India Bonds, 13. There is very little
doing in the Money Market, but it continues easy. Bank
Stock may be quoted for the opening 177 179 ; end India
Stock, 247 249.
The Foreign Market continues! inactive to the present
time, and prices are nominal. Spanish Active as they closed,
28i ; Passive, 7i ; Deferred, 13k 14/ ; Portuguese
also as they left off, ; Three per Cents., 2,0; Colom-
bian, 24i 251; Mexican, 29i ; Brazilian, 77i- -781 ; Bel-
gian, 103 104; Dutch Two and Half per Cents., 1;
Five per Cents. 100} 101.

PRICES OF SHARS THIS DAY AT ONE O'CI.OO

Paid.
Brazilian Imperial Mining Co (issued at 5/. pm.)
Ditto St. John del Rey
Birmingham and Derby Railway Company .... Aft
Brighton Railway
mdon and Blackwall Railway 17%
I.:.ndon and Birmingham Railway Company 155
PRICES OF IRISH STOCKS, DUBLIN, MARCH 17
3 per Cent. Consols
3,4 per Cent. Stock
Ditto Reduced
Ditto New, 1830
334 per Cent. Debentures... Bly, i National Insurance Company -
Bank Stock ... -
tirand Canal Stock - Ballast Office Debentures, 4 -
Royal Canal Stock
lIALF-.PAII7' ONE.

Per Share.

During the whole of the morning there has not been any
spirit for speculating either in the British or Foreign Mar
kets, owing to the absence of intelligence from all quay.
ters, and no further arrivals to the present hour.
We hear that the Tea prompts due the 10th instant have
been satisfactorily arranged, on which some doubts had
previcusly prevailed.
Money in the English Market at the rate A f 4 per cent.,
in the Foreign Market about 6 per cent.
The Dutch mail has not as yet arrived.
Consols may be quoted at 91 for the Account; Money,
901; Exchequer Bills, 17 19 prem. ; in India Bonds
;
nothing done ; India Stock ditto.
In the Foreign Market scarcely- a bargain has been done
during the morning. Spanish, 28/ ; Colombian, 2 ;
Brazilian, 78
Dutch Twc-and-a-Half Half per Cents., nothing
dine ; Five per Cents., 1004 101.

31.
NI
per
3c..Stocktien pt rill .:: . t CLOSING PRICES.
BRITISH FUNDS.
1 India St rick —
3 Per Cent Cf.!
!.4 per Cent. Resd. 9ON, Ditto Old Annuities —
3 Ditto New Annuities ........
Now 5 per Cent 99 lEx. Bills, I,ooi ...... `2(l. ....... 19 pm
Long Annuities Ditto 500/ RI pin
, to expire
n. .8R
0ct.1.559
IS6O ...
Jan, ,Consols'•
1334 for Acct 91!i
FOREIGN FUNDS
Portuguese Ronds,sper c.P.nt.
Ditto, New Ditto
Prussian, 5 per cent —
Russia,' Bonds, 5 per cent —
Ditto, Metallic..
Spanish, 5 per I' en' S%i,
Ditto, Deferred
French, 5 per cent...-..... —f —c
Exchange f• c
French, :3 per cent
Dutch,L.:}i per cent.
Ditto,-5
per cent. loi
ARES.
Tway
67
no

Austrian, 5 per cent —
Belgian, 5 per cent 101
Brazilian Bonds 7B
IThenos Ayres, 6 per cent —
Chilian, 6 per cent —
Colombian, ti er cent 225i
Ditto, 18'2-1
Danish, 3 per cent —
Greek Bonds, 1825, 5 per et —
Mexican, 5 per cent —
Ditto, ti per cent., 1825 —
Periivian,lB2s,6 per cent--
SD e
Birtninghaut and Derby Rai'
tircat %Vestern Railway .....

Ditto New-- Sha-iell ....................
24 !-,.j
London and Brighton ItliiivaY l5
London and Blackwall Railway
155
London and Birmingham Railway
..:4114
Ditto Quarter Shares
Ditto New Shares . B%
London and Greenwich Railway
North Midland Railway ... ................... —...
".
Ditto New Share= 17‘
50
York and North Midland Railway

Her llajesty and Prince Albert paid a private
visit on Wednesday evening to Covent-garden Theatre. The
audience rightly refrained from intruding their recognition
upon the Royal pair, who seemed highly to enjoy the perform-
ances. We understand that her Alajesty intend; visiting the
theatre on Tuesday next, and that Charles Kemble will, on
that occasion, perform Don Felix, in Mrs. Centlivre's comedy
of The Wonder.

NEW MUSIC.

Hill, London.

No. i. Th^ PFO,./Dliei-si Glee For three voices. Writ•
ten by Mr. BALL, composed fq7.. 1-0, >i B S.
No. 2. -Friar Tuck ; or Old England's Merry De:y.,„
Written by ditto, composed by ditto.

. .
The composer of this glee—which is writtei for two
sopranos and a bass—has aptly joined sweet melody to
the pearly treasures of the deeps
To a simple atid fidwing dif he adds rich and taste
ful harmony, blending at once, in the bass solo—:-Which,
by the bve, has great animation and character—the or-
namental with the graceful.
Friar Tuck, by the same, leads back with dramatic
truth to the beasan of feasting; fun, and revelry of the
olden times. The jolly friar shakes his fat gide.; in a
fine bass solo, full of point and character ! We may
safely say,

" They are merry in the hall,
When beards wag all."
This glee, like Phe Pedri DI Fee, has the merit of
truthful yet varied harmon;,, possessing much originality.
and beauty. We recommend them to musical families,
and bestow our warmest praise on the composer, and
wish him success in his future efforts.

BANK OP EN GLAND-,-( THIS DAY,)

A General Quarterly Court of the Proprietors of Bank
Stock was held this morning, pursuant to the Charter. It was
also a Half-yearly Court appointed to consider of a dividend.
The Governor (Sir J. It. Reid) and Directors entered the
Court, when the minutes of the last Court sere read and con-
firmed.

The GOVERNOR said, before they proceeded with the other
business of the day, it was his duty to state that he and the De-
putation appointed at the last Court had waited upon her Ma-
jesty, Prince Albert, and the Duchess of Kent, with the Ad •
dresses of congratulation. They had been most graciously re-
ceived, and had most gracious answers returned. He moved
" That they be entered on the Minutes of the Court."—
Cat ried unanimously.
The GOVERNOR then informed the Court that the Court of
Directors, having considered the state of accounts of the Bank,
were of opinion that a dividend might be made, if that Court
approved of it, of 3 per cent. interest and profits on the half
year ending sth April next.
Mt. Set,Wte said before they took that subject into consi-
deration, it was essential that the PrOpritAttrs should be pre-
pared with a few materials, in order to enable them to come to
a conclusion whether 31 per cent. was a proper dividend or not.
He was quite aware that the Directors were not in the habit of
presenting a balance-sheet ; but as on former occasions he had
asked the Governor what was the amount of the rest, he had
wished, and rather expected, that the Governor would have
given that information of his own accord. Not having done
so, he felt bound to ask what was the amount of the rest at the
time when the Directors carne to the conclusion that 31 per
cent. *as a proper dividend to rectetimend to the Court.
The GOVERNOR—Do you mean the amount of the rest at
the last meeting ?
Mr. SELWYN'—No, Sir. I mean the amount of the rest,
when your Court came to the conclusion that 3 per cent. was
a fair and proper dividend.
The GOVERNOR—The amount of the rest at that period was
2,867,285/. 3i. tkl., after providing fcr the proposed dividend.
Mr. SELWYN observed that that was about the sum of
5,0001. above what it was at the last Court, which was so small
an amount as to make no essential difference in the amount Of
the dividend, and relying upon the discretion of the Directors,
who were in possession of all the information upon the subject,
he would say that in his opinion the dividend was a very fair
and proper one, as compared with that Of last year, There was
one other question he wished to put. Some years ago he bad
mentioned to the Court that he thought they were entitled to
the benefit of a dividend upon the dead weight. All were
aware that the Government paid them a certain annuity an-
nually, say 500,0001., which was called the Dead Weight. It
occurred to him that they were entitled to take a portion of it,
but he was told that a portion of it ought to be set apart for
the redemption of the sum originally invested, which was 14
millions. What he wished to know was how that sum was ap-
propriated for that purpose ; was it laid out in available stock ?
GovraNOß—Yes, laid out in available stock.
Mr. SELWYN—So as to be an available fund?
GOVERNOR—It is employed in various ways, as is usual
with other banks.
Mr. Titomrsox wished to ask whether any portion of the
dead weights had been sold within the last six months!
' GOVERNOR—None whatever.
Mr. Tnostrsote said he had an impression on his mind that
the Three per Cent. Consols were sold to the amount invest' d
in annuities.

The DEPUTY-GOVERNOR could not answer that—it would
be going too much into detail.
Mr. FIELDER remembered that in 1834 he round it stated
that they took for 4,080,000/. 3 per cent. annuities
of 23 years of 212,783/. 12s. The halfyearly amount was settled
of 106,391/. 165., of which vi as set apart for profit and loss.
61,500/. 19s. 6d., leaving 44,890/ 16s. 6d. for redemption of
capital. Now, he asked if any part of this 44,890/. 16s. tict.
was added to the rest, or set apart for redemption of the capital
of four million and 80 thousand pounds, because he would rather
lose his dividend than his capital.—( Hear. )
The GOVERNOR said it would be going too much into ac-
counts to answer the question at length, but it went to the
general fund, and not to the rest.

- Mr. FiELtaft—But is it part of our capital is carried?
Mr. YOUNG conceived the Governor could state whether
the proposed dividend arose from their profits.
The GOVERNOR said most certainly, it did not break into
any part of their capital.
Mr. YOUNG asked whether in the last three or four
onths the Company had not discounted to a large amount
commercial bills, and whether they had thereby sustained any
material loss?

The GOVERNOR said the Company had discounted such
Bills, but he could not tell the amount to the present day,
but had no hesitation in telling what was the case up to
the end of the year 1839, at which time they had discounted
upwards of forty millions, and such was the credit that only
three failures had taken place, and they should not lose six
hundred pounds. —( Cheers. )
Mr. Youxo was gratified by this declaration. As they
were there to consider a dividend, he could not help expres,h g
his opinion, they snould consider what ought to be done wlth
reference to the proposed Committee of the House of Com-
mons, because on that depended the future prosperity and
credit. of the Company. He conceived the establishment, if well
conducted would conduce to the public safety, as well as their
own profit, which he thought was at present inadequate for
such an establishment, and also that the public should be dis-
abused of various misrepresentations by which they were con-
stantly attacked, as that they were the source of the fluctuations
in the currency. This was undoubtedly an evil; but how
could it be avoided while it depended upon the seasons, upon
Europe and America, whose proceedings had great effect upon
it, and not only did it so depend,but upon the issues of the con-
tending interests of the country, who, while they (the Bank of
England)were withdrawing were issuing. He thought the whole
matter before the Committee would rest upon the effect this
competition in issues had upon the currency. These were vital
considerations, and he hoped the Directors would not neglect
anything that would elucidate the connection that Bank had
with the community at large, because he was sure that it was
capable of demenstration that it was of the greatest possible benefit.
He hoped the minds of the public would be disabused on these
points. It was said that they were not to be a bank of deposit,
but he should like to know how they could be a bank of issue
if they were not to be a bank of deposit? The one regulated
the other, and all these were matters deeply affecting the inte-
rests of the proprietors. He must say that he regretted the
many laws that had been repealed, because, although at the
time some necessity might have existed for them, he believed
the proceeding had inflicted great evil on the small
traders. With these views, as an old proprietor he would
take the liberty of recommending to the Directors to do their
duty in making known to the Committee, which had been re-
commended by the House of Commons, the great services
which had been rendered to the best interests of the commer-
cial world by the Bank of England.—( Hear, hear. ).
Mr. FIELDER had read with great surprise, that, not.
withstanding the high rate of interest they had received during
the last year, they had only added 5,000/. to the rest. They
had last year entered into a negociation with the Bank of
France—a connection which must be felt by every Proprietor
to have been deeply humiliating, inasmucn as they
were compelled to resort to a foreign bank to sustain their
credit. If they had discounted forty millions of paper in the
last year, it was rather extraordir ary that only n per cent.
dividend could be made to the Proprietors. He presumed they
must have sustained a considerable loss in the negotiation with
the Bank of France, and he hoped the Chairman would give
them some information on the subject.
Mr. SALOMONS thought it exceedingly inconvenient to have
questions of detai bread upon the Directors in this way, with
out any previous notice. At the same time he agreed with
the last Honourable Proprietor that, considering the large
amount of bills they had discounted, and the small losses
th y had sustained, that profits had been very trifling.
At a time when a Committee was about to investigate
the whole question of the currency of this country, and the
affairs of the Bank of England in particular, he thought it ex-
tremely injudicious to bring these matters of detail before the
public..--( Hear, hear.) He did not hesitate to say that, con-
sisiering the great risks that corporation ran in regulating the
monetary affairs of the country, they did not receive the amount
of profit to which they were entitled.—( Hear, hear. )
Mr. HAMMOND could assure the Hon. Proprietor that it
was not his intention to go into any details, but he wished to
know whether the negociation with the Bank of France had not
cost that corporation a large sum of money, because otherwise
he was satisfied that a larger amount would have been added to
the rest.

Mr. MA RG ARY begged to move as an amendment that a
Committee be appointed by the general body of the Proprietors
to inquire into the general affairs of the Bank, and to advise
with the Directors whether any more advantageou4 plan for
managing them might not be suggested in order that the divi-
dends might be increased. With reference to the Bank of
France, he found that during the last eight years the shares of
that Bank had increased from 1,700 francs to 3,165 francs. In
the last year the London and Westminster Bank had shown
a balance sheet of 43,0001. profit on a paid up capital of
600,0001. Now, if they looked at the great amount of interest
received by the Bank of England for discounts, it appeared to
him that if the affairs of the Company were properly adminis-
tered, they would h..ve a much larger dividend, or at all events,
it would have been increased to 8 per cent. per annum The
Bank of France discounted bills for 500 francs for small mer.
chants and retail traders, with very little loss. Now the Bank
of England confined its discounts to merchants. and lost the
large amount of profit which the Joint Stock Banks enjoyed.
He hoped his amendment would meet the approval of the
Proprietors.
Mr. Alums seconded the Amendment.
Mr FIELDER rose to order.
Mr. SELWYN thought the Proprietor who moved the amend-
ment was perfectly in order. They were met to consider the
general affairs of the Company, and the making of the dividend
was a matter of secondary consideration. He contended, there-
fore, that the amendment was perfectly in order.
14 Ir. FIELDER said the amendment would Lave been in order
if it had been moved before the question had been put, but he
thought it could not be entertained now. —( Cries of 't No, no."
The GOVERNOR said the original motion was, that a divi-
dend of 3i per cent. be declare.'., since which an amendment
had been moved.
Mr. BLACKBIIRNE had not heard the question of a dividend
put—it stood merely as a recommendation from the Directors.
Mr. SELWYN would set that right by moving that the divi-
dend be 3i per cent.
Mr. WILLIAbISON would second the motion. Their rest
was much larger now than it had been at any time since 1829
or 1830, which wculd be a security to the public, even although
the Bank had increased their discounts.
Mr. HAMI‘IOND hoped that the Governor would vouchsafe
an answer to his question; if not very: inconvenient, it mould
be satisfactory to the Proprietors.
The GOVERNOR might go so far as to say--No, Gent:e-
men, I won't say anything.—(Laughter.)
Mr. BLACKBURN—It was most important that questions
important
should be put, but it was also very that
I some of them should not be answered. He wished to ask one
question, to which he hoped he would receive an answer.
It was rumoured abroad in various quarters, not that the Bank
had lost a large sum, but that they would hereafter have to re-