The Sun.
London, England, 1840-06-13 00:00:00

MONEY MARKET and CITY NEWS.

(FRIDAY EVENING.)
POST.—Spanish Stock fell considerably to-day, the
Active Bonds closing heavily at 261 to i ; Portuguese was
also lower ; but, otherwise, there was no material varia-
tion in prices.
A. meeting of the committee of Spanish Bondholders
was, we understand, held in the course of the day, at their
rooms, Old Swan, the object of the members being to
take into consideration a statement received through a con-
fidential channel, as to the actual state of the finances cf
Spain. It is rumoured that, accordi Itr 'o this document,
the situation of the Christino Government is infinitely worse
than the British public have any conception of. Great
pains are taken by certain parties to prevent the publica-
tion of the particulars, but there can be no doubt that
the whole will come out in the course of a few days.
The committee appear to us to be acting injudiciously
in suppressing them at any one's solicitation or
suggestion, even for a single hour ; as, by so
doing, they lay themselves open to the imputation of
favouring jobbing and dishonesty on the part of operators
for the account. If, indeed, the finances of the Queen
Regent be in the woeful condition they are now repre-
sented to be, the consequences of the forthcoming expose
cannot fail to be very ruinous to the interests of the bond-
holders. To be somewhat more explicit, we may men-
tion that it was this afternoon whispered about at the
Stock Exchange that the liabilities of Spain amount to a
no less formidable sum than two hundred millions ster-
ling, while the revenue does not exceed five hundred
thousand pounds per month, or about half the amount
which it has been the practice to put it down at ; so
grossly have the official reports upon the subject been fal-
sified for the purpose of trepanning the French and Eng-
lish capitalists into further advances of rr ()ley. Shame on
the Spanish Government, and shame still more on Those
English noblemen who give countenance to their profligacy.

TIM E S.—There has bcen an almost total cessation of
late even of allusions in the city to the progress making
by the Select Committee of the House of Commons on
banking affairs, but it may nevertheless be stated, with
very little reservation, that the prospects arc good for all
those who desire to get rid of monopolies and chartered
rights, and to obtain a settlement of the curreecy upon
lure and lasting foundations. That the composition of
this Committee was, in the outset, much too favourable for
one side of the question, was an impression at the time
so universal in the city, that the fact was hardly to be dis-
puted for an instant, of which perhaps the mere admission
of the Governor and one of the Directors of the Bask of
England, the culprit under accusation, as members of
that Committee, would be in itself a sufficient proof ;
but the notion is nevertheless beginning to prevail that the
force of truth has proved more powerful than all party ar-
rangements, and that many converts have been made in
the Committee from the opinions with which they entered
into the investigation. Further it may be said, that this
new light has been obtained from two sources—first, from
the strength of the evidence brought before the Committee
in the early part of the inquiry against the administration
of the Bank—and next, from the defects and the incon-
sistencies of teat testimony which has been put forward on
behalf of the Bank. The Committee have discovered, it
seems, to their great astonishment, that authorities "
acknowledged to be of great character in 1832
have wholly ceased to be so in 1810, and that
tliey have wholly failed in the application of prin-
ciples which, in the earlier of those two periods,
they laid down with the utmost cor,fidence. To prevent
misconc-ption it is proper to add, that allusion is here
more especially made to the evidence of Mr. John
Horsley Palmer, who will he found, when that evi-
dence appears in print, if the current reports arc only
in part authentic, to have damaged his colleagues in
a very material degree. Hence arises in some mea-
sure the great change cf opinion that has come over
the Committee, for in the same proportion that the tes-
timony of Mr. Palmer lost weight, that of the oppo-
nents of the Bank gained in character. Many re-
turns, consequently, relating to the affairs of the
Bank, which their friends had successfully resisted in
the early meetings of the Committee, have since been
ordered, and thus the means at least are furnished of
cart-) ing, the scrutiny into the affairs of the Bank as
far as it ought to go, in order to arrive at the exact
truth. It would be improper to name directly the
members or the Committee who have undergone the change
of opinion adverted to, but there is reason to believe that
they are of so much weight and leading character, that
unl• 33 a dexterous turn can be given to the inquiry by ad.
vocates more expert than Mr. Palmer, the cause of the
Bank is in the utmost jeopardy. Mr. Palmer's evidence,
it should be observed, has not yet closed, and it is ex-
pected to last several days longer. The Committee sat
on Wednesday last, but have adjourned till Tuesday,
Another change has occurred in the value of mo-
ney, which to-day was very much in demand, and
among other causes a very decided action is apparent
from the operations of the Bank in sellicg city bonds
on the one hand, and issuing their temporary loans
on the other. This measure may, therefore, it is con-
ceived, have important consequences hereafter. There
can be no doubt that this realization of assets by the Bank
is adopted from the belief of some new pressure at no
very distant period, for which they desire to be prepared ;
the very loans that they are making assist that immediate
object ; but, as all these necessarily terminate under the
notice in the middle of next month, the effect of the con-
traction of the circulation by the tale of the city bonds
will only then be perceivable to the full extent. It is un-
derstood that nearly the whole of that description of secu-
rity is now disposed of. The chartered companies as well
as private individuals have taken them very freely.

SUN.—Foreign exchanges were without alteration
this afternoon. Bills on Paris were taken at 25f 52:1c.
to 552. ;on Hamburgh, at 13 9to ; on Amsterdam at
12 2 ; and on Frankfurt at 149;
Consols for the opening, ex div,, wrre without altera-
tion to day, being marked alternately 913 and 911; Ex-
chequer Bills improved a shade, viz., to 25 and 27 prem.,
while East India Bonds remained at 4 prem. ; Bank stock
rallied to 1761, and the Reduced Three-and-a-Half per
Cents. were steady at 993 to.
For the Active Spanish Bonds the quotations realized
have been as low as 26.-1,- and 26k. Portuguese New Five
pee Cents. have been heavy at 351,- to and the Three
per Cents. at 24 ; Mexican Bonds have been dull at 311,
and Colurn',ian at 25i ; Brazil Stock has obtain, d
761 to A- ; Belgian Io4jl, and Dutcb Two-and-a-Half per
Cents. have receded to 54
The Railway Shares are as buoyant as ever. The
London and Birmingham Shares have been sold at within
a fraction of 100 premium ; the Great Western at 42 ; the
New North Midland at 1.01 ; the Blackwall at and the
South Western at l 6 premium. The Brighton have
been at 5, the Croydon Trunk at aad the South
Eastern 12-1 discount.

SPIRIT of the PUBLIC JOURNALS•

( From the Morning Advertiser.)
Flimsy as is the representation which the House of Com-
mous presents of the British people, yet, as the semblance
of a body representative of public opinion, we are anxious
to see it maintain its duo respect and dignity. It is, there-
fore, with deep mortification that we refer to the disgrace-
ful proceeding which interrupted the debate of Thursday
night. As has Fe-n seen by our Parliamentary report, Mr.
O'Connell, in opposing Lord Stanley's Bill for the dis-
franchisement of Ireland, was assailed with most indecorous
uproar. Having designated the interruption as " beastly,"
than which it would be difficult to apply a more appro-
priate term, Sir S. Canning in the midst of a scene of
confusion more suitable to a bear-garden or a cock-
pit than to the House of Commons, insisted
upon the offensive epithet being retracted. Mr.
O'Connel', in reply, asked, in reference to the noise which
interrupted him, " What sounds were they ? Were they
human sounds ? Did you ever hear any other bellowing
than beastly ?" The appeal was but too forcible, and,
therefore, admitting of no reply, was met only by an exa-
cerbation of the uproar. The scene was altogether such
as to be not only disgraceful to the House of Commons,
but, as was avowed by several Members, disgraceful to
any assembly of English gentlemen. The Chairman
having expressed himself satisfied with Mr. O'Connell's
explanation, the matter might have rested with-
out a further accession to the disgrace of the
House, were it not for the most inopportune interference
of Sir B. Hall, who, amidst loud Tory cheering,
harangued with great acrimony against all " fac-
tious opposition" to a measure approved of by the House.
The Hon. Baronet has gained but little credit by this pro-
ceeding. However factious may have appeared the oppo-
sition of Mr. O'Connell, the moss and indecorous manner
in which he was assailed on addressing the House, was the
subject to which a reproof was most imperatively called
for, and Sir Benjamin Hall, in volunteering his censure of
a factious opposition when the question was one of common
it(h.!ubre,"
courtesy. and decency, however he may thereby recom-
mend himself to aristocratic insolence, will acquire but
little favour with those who admire fiir discussion, and
will not excuse a palpable dereliction of public duty. The
sooner the false friends of popular rights take their truce position the better.
(From the Morning Chronicle. )
To form an accurate judgmeiit of t h hE
machine t s iroy n.
petitions, we must compare the result we
NVere the clergy and the Church unanimous therethe wouldeccle-
siastical
be a petition frc,m every parish. Considering
authority, and the motives by which this appiecean-tiou to Parliament has been backed, it would have
regarded (except in the case of hostility to the proposed
grant of public money) as a religious duty to petition.
How many of the above number are parochial petitions
we have no present means of determining. Suppose they
all are, it will then follow that the Church, polled by pa_
riches, is divided in the proportion of four to one against
the grant. The real proportion of the non-petitioning
parishes is probably six to one. For every single parson
wishing for Church Extension, there are seven demanding
the repeal of the Corn-laws. Besides, the average of sig.
natures indicates that in the petitioning parishes themselves
the Extensionists are a minority. The allowance of only
eighty-two persons to a parish church proves that an im-
mense majority of church-going people, interested in reli-
gious matters generally, have no sympathy for this appli-
cation to the public purse. The pretended exhibition of
strength turns out, therefore, a demonstration of weakness.
The petitions for the grant furnish a conclusive argument
against the grant.

From the Mn Past.)
It seems now to be quite clear thg at her Majesty's Minis-
ters in the House of Commons, under the guidance of
Lord John Russell, are ready to go any lengths with their
eirty and despicable confederates of the Irish tail. We
call upon every Euglish gentleman of common spirit to
mark by his conduct his disgust at such base and degrading
subserviency. How often is Lord Stanley's Bill, for the
introduction of honesty into the registration system in
Ireland, to be factiously obstructed? Lord John Rus-
sell, as Sir Robert Peel so clearly pointed
out on Thursday night, ha ? made up his mind
to go fairly, into Committee after so many defeats
in his attempts to stop the Bill ; but he was in-
duced to change his mind, and to. continue the obstructive
this
system. Not onlj did he makeh but
change, he adopted
precisely the policy which Mr. 0 C•i_nnell publicly chilked

out for him weeks ago, when he proclaimed to his follow-
ers in Dublin that the Government had brought forward
the English Registration Bill for thwarting and embarrass-
ing the progress of Lord Stanley's measure. Surely it
mnst be apparent to every one who has been accustomed
to fair and gentlemanly parliamentary welfare, that the
efforts to obstruct Lord Stanley's Bill have been low,
Vicky, treacherous, and base to the last degree. They
have been quite worthy of Mr. O'Connell ; but in all of
them the Government have joined, and have been time
after time beaten. _

(From the Morning Herald.)
The great object of eur remarks yesterday was to prove
the insanity of the prisoner, notwithstanding the opinion
to the contrary of Mr. M'Cann, the surgeon to the police
face ; and until we ace them satisfactorily answered, we
shall continue to think we have adduced strong reasons to
show that the national character remains free from the
stain of attempted political assassination, inasmuch as the
act was that of a monomaniac. On thee conclusion
of our remaiks we compared this regicidal at-
tempt to those of Hatfield and Margaret Nichol.
son against the life of George 111., and if we mis-
take not, Hatfield was as apparently calm and col-
lected, under examination, after discharging a loaded
pistol at the King, in the theatre, as Edward Oxford.
But we doubt, and we expressed that doubt yesterday also,
that the pistols were loaded with ball. Most assuredly the
marks in the brick-wall which were pointed out to us as
the marks of the pistol-bullets,:are not anything of the
t;aoi if they are, then the prisoner [must have fired ten or
a dozen bullets, as any one will see who takes the trouble
of walking along the wall towares Hyde Park-corner, for
within about 50 yards he will find ten or a dozen such
ma ks, all as freshly made—two of which are within about
twelve yards of the others. They are all merely chippings
of the bricks which boys have been poking with sticks or
their fingers
(From the Times.)
Well might Lord Stanley complain of the obliquity
(or something worse) of Mr. Wood's proceeding, when
he stated to the House that no effect could follow it but
the " hanging up" of his own (the Irish Registration)
measure, until Lord John Russell should be pleased to
commence, which he need not do this session, the pro-
gress in Committee of his English Bill, and to terminate
that progress, which would be simply never. Such is the
disingenuous—such the deceptive manoeuvring, by which
a self-named Liberal Government condescends to
carry on the business of a mighty nation ! Such
the morality to which Lord John Russell—a man
formed, and once fitted, for better courses—does not blush
to say before the House of Commons that " he shall cer-
tainly give his support," a declaration which deserves, as
it has procured for his Lordship, the applause and grati-
tude of Mr. Daniel O'Connell. The defeat of Ministers
in:this discreditable scheme was as unexpected by them,
as it will be gratifying and encouraging to the upright
English nation, and is already received by the political
world as the auspicious prelude to many forthcoming
victories over a host of greedy adventurers, in and out of
office.