The Sun.
London, England, 1841-03-19 00:00:00

.IIVENING EDI,

period of danger and difficulty, and the
hard pressed on the matter, are inclined
the debt. As this ought to have been f
was commenced, as the natural consequen,
mination to the whole adventure, the
have been mixed up with the original transact,
case the money would have been raised on mu,-- it
and the
Government would have had much less to pay, both
for principal and interest, then they will have by adopting the
debt now. This is a similar blunder to one on a larger scale,
committed at the time when the Alliance Greek Loan was ne-
gotiated, when stock was created at par for the English pot
tion of it, with the guarantee of the Government, who were
at the very same time raising money for their own purposes
Bills at 3 per cent. or less. Hence it on issues of Exchequer
follows that the question of guarantee should either he
raised at the time of the original contract, or that it should be
, resisted altogether; with this precaution, that on all occasions
where the public might be disposed to expect a guarantee, same
distinct and public warning to the contrary should be given.
This is the substance of the remarks current in the City on
this subject, and it is hoped that they may be found useful to
the present and all future Chancellors of the Exchequer.
The meeting of the Bank proprietors to declare the half-,
yearly dividend, which took place this morn'ng, was as much
distinguished as any that have preceded it for the disposition
to counteract any attempts made to penetrate the mystery
which enwraps the transactionsof that institution. A dividend
of 3/1 per cent. for the half-year was declared, which it was ex-
pected, as usual, the proprietors were to assent to without hav-
ing the slightest data to ascertain whether that amount were too
much or too I.ttle. The motion of a proprietor that the meet-
ing should be adjourned for a week, during which the Direc-
tors should employ themselves in preparing an intllligible
balance sheet which would enable the proprietary to
see what they were about, was net only 'ejected by an im-
mense majority, but there was evidently the feeling that such
a motiou could be scarcely meant in earnest. And yet the
motion conveyed no more than a desire' to do away with
the absurdity of a pripietary yielding implicit obedience to
the proposal of the Directors, without knowing whether such
proposal were right or wrong—without havinghtbe
the slightest
basis acomding to which a conclusion formed. It
is needless to add, that the proposed dividend was accepted
without a dissentient voice. A motion to reform the system
of electing the Directors, •:by furnishing the proprietary with
lists of a number of eligible persons, was likewise treated as
something almost ridiculous, as if the present plan were so
excellent that every alteration must be misplaced. The ques-
tion is not whether the motionsbrought forward be expedie
is
their details or not, which would come out on a little consider-
ation, but what renders these meetings remarkable s the
desire of crushing at once and unexamined, every proposal
which in the slightest degree savours of alteration ; so
that the proposer of any measure that would have for its object
the clearing up of any mysteries, or the reform of elections,
has not only to meet the strenuous opposition, but almost the
ridicule, of his co-proprietors. The explanation given by the
Governor of the losses sustained by the Bank by the late failure
of one of its Directors appeared to give satisfaction, when it wai
ascertained they did not excoed 10,0001. All mention of tho
Committee of the House of Commons seemed to be studiously
avoided, though the mere hope of advantage might have
tempted some of the proprietors to make some inquiry, as it is
now well understood that one object of the Bank, is to become
the sole issuer of notes for the circulation of the whole king-
dom. After what has occurred, it would be a general disap-
pointment in the City, whatever may be thought of the prin-
ciple itself, if the administration of it is to be confided to that
body.

At a large meeting held at Manchester on the 15th inst.,
to take into consideration the report on the import duties.
and to petition Parliament for their repeal, resolutions
were carried, to the effect that the meeting regarded with
satisfaction the appointment of a Parliamentary Committee to
examine into duties so injurious; that it regarded as impo-
litic all duties on the importation of mercantile returns, when-
ever found to have the tendency to limit commerce ; that im-
port duties ought to be levied for the purposes of revenue
alone ; that raw material should enter free, and that the laws
affecting provisions have operated injuriously on the great mass
of the people. The feeling generally seemed to be, that much
opposition was to be anticipated from a variety of intere,ts,
particularly those of the East and West Indies, and also from
the philanthropists, who would see an encouragement to the
slave trade in a reduction of import duties on certain articles,
but that it was the duty of Government not to look to particu-
lar parties.
A petition has been sent by several parties connected with
the spirit trade to the Treasury, the Admiralty, and the Board
of Trade, that an Admiralty order may he rescinded which
prohibits the use of spirits duty free by the officers of the navy.
The argument used in the petition is, that such a measure can
be of no benefit to the revenue, as the officers can purchase
spirits duty free at the first port they touch, so that the British
dealers would be the only losers, and that to a large extent,
while, if the measure were intended to promote temperance.
it would be found equally useless for the same reason. The
Treasury and Admiralty have both returned a refusal to this
application. So far the measure is one that concerns the
dealers only, but it is also rumoured that the officers of the
navy have expressed great dissatisfaction at the order, and thist
they consider it offensive to their feelings without being at-
tended by the slightest benefit to any one.

CHRONICLE.—The favourable impression produced by
the news received by the Columbia from America; has led to a
further improvement in the funds to-day.
Rumours are alluded to in the Madrid letters about a new
financial project, whereby an advance of 90,000,000 reals is to
be placed at the disposal of the Treasury, 42 millions to be
applied to the payment of the interest on the capitalised
coupons, and 42 millions besides to provide for current exigencies.
" Borrowing," as is observed by our Madrid Correspondent, " is
the panacea for all evils in money matters amongst Spani-h
sta'esmen." We expect no permanent advantage to the bond-
holders from any scheme of that kind at present.. The only
means by which Spanish credit can now be effectually restored
is by the completion of a commercial treaty with this country,
so as to admit British manufactured goods and raw iron at a
moderate duty of about 25 per cent. It is acknowledged by men
of all parties who have paid attention to the subject that this
is the true remedy for the disease in Spanish finance, and that
its adoption would speedily improve the custom revenues of
that countay to the extent of fully two millions sterling per
year. We have frequently entered upon arithmetical details
to prove the reasorableness of this computation, and vital not
take up space to-day by repeating them. We will not sup-
rise that it is necessary to do so, to impress the truth upon
the successor of M. Gamboa, but trust that he may be a per-
son of sufficient sense and discrimination of character to urge
its immediate importance upon the Spanish Cabinet. Wet
have been informed that the principle makes some pro-
gress, and if the Spanish Government find that they cannot ob-
tain money on the old hand-to-mouth system, there is little
doubt that necessity, which is a great reformer, will at length
open their eyes to the propriety of adopting a more liberal
commercial policy. If that object were once obtained the
army placed upon a peace footing, and the gross abuse and rot-
tenness extirpated which at present pervade every depart moist
of the collection of the Spanish revenues, we should not de-
spair of seeing Spain resume its place among the nations of
Europe. But unless the Spanish Government have sufficient
strength and purity of purpose to grapple with corruption, and
to strike boldly at those class interests which keep their trade
and enterprise bound down by the fetters of feudal monopolies,
it would be vain and illusory to delude the bondholders with any
sanguine hope of an early or lasting improvement in their pre-
sent unfortunate condition.

POST.—An almost total calm prevailed at the Stock Ex-
change this morning, and the same absence of excitement con-
tinued up to the close of the day's transactions, the business
done being of very little importance.
The Committee of Spanish American bondholders, anxious
to promote to the utmost of their ability the interests of the
English claimants upon the Governments of the new world,
and to obtain for them, as they have done in the case of Chili
and Venezuela, at least a partial settlement from the neigh-
bouring republics, met again this morning. The intelligence
in the first instance communicated from Mexico, was considered
satisfactory. The stipulations entered into by the Government
of that State have been strictly fulfilled. 'the Treasury cer-
tificates being now almost entirely paid off, there is every
probability of large remittances being made, so that
the dividends may henceforth be punctually paid in
London. The news from New Granada could not be called
encouraging. The recent, and rather extensive, disorganisa-
tion has materially reduced the means of this divisionhof -
lombia, and the correspondents of the Corornietteiet
mumuscul,roi
ques-
tion the ability of the Govornment to. pay 9
it. It is to be recollected, however, that
understood to be already in London,
account of the Republic is
~ .
per cent. for three years, on the portrono
afi ntshoremdeobfthoal,loooottet.
otno
poriate. the money is a mystery that de-
mands late information from the Equal or
and why Senor Mosquera,o the Commissioner sent over for the
has addressed an energetic letter to Senor
has come forward. The Chairman of the Committee, E. R.
raropdoss e
es
xdpoiessu
Robinson, Esq.,
natltonaP. Pr
Moreno, now in London, on the subject of the debt of Buenos
Ayres, and the reply of the worshy Envoy is daily ex-
pected.
led The clrims on the Argentine State are fortis-
'lately not so heavy, but that., as in the case of those on
Chili, something, in the way of reimbursement, .may be
anticipated after a delay of fourteen years. Messrs. Baring,
I3rothrrs, and Co., are not likely, it is thought, to let the
spe
matter remain in abeyance, now that the blockade is no longer
to be pleaded as an excuse for insolvency, e Tally
late advices lead to the anticipation of the complete overthrow
of Lavallo and the Unitarian forces. Peru has 90 ret reie will.
in live at present in London • but the claim on that rePeal.b the
in common with others, be urged with all possible ze
_y _
Committee. Senor Pazos might, with propriety, as the
He repro-
medium of communication with General G
alnarrait transpired
sents not individuals, but the State of Peru.
itte to the
that the Gmernment of Guatemala had be made the
agents here a considerable freight (not yet an,
of the claims n
to be realized and appropriated to the payreco're cheering pro-
of tobacco,
the bondholders. On the whole, a inuc_hltlrrraseivne47ol American
sect begins to open to the creditors or_r...ast.
States than has been visible for many Yea'' r
- • - • •

t in trade is taking
SUN.—It
inc.-----..__
ttn samnusftalicatturniongiandp where it has be_
irotriver
omo a seriousmcc question whether the artisans shall not com-
mence working short time. Tbis melancholy depression
in the trade of the country, feeding as it does to daily
failures or embarrassments, continues, too, in the faca of im..
comparatively
proved exchanges, and a easy money market.
All the stock markete were in a state of great dullness
tc-da, but this did not arise from any depression, as the
quotations were full/ supported. Consols 84
ols closed y
for present transfer.,
hand_ at 88j buyers for time.
'he Active spanis Bonds were steady at
Portuguese New Five per Cents. at 31, Colombians 23 to /,
ad Dutch Two-and-a - Half at 22#
to 5301 .1 h had 13er Cents at 601 to I.
The Re' viaY s area an upward t
more dealt in this afternoon. endency, and were

asv.asTATION IN G REN AD A." The ad-
voic ce
receive
afrrodms
wGhroenaraed ap,r"o
us ad_ s Y a Paris print, "must
country. That city, so celebrated for its religious edifices.
is about to witness their complete destruction; companie4
ildsen we
allr
of miners are blowing up the walls of the churches, and
of the gory of their
not a stone of them will remain before long. Those ad-
mirable monuments are being demolished with indescrib-
able activity. Amidst the civil disturbances every thing
had been respected the French had gazed at and ad-
mired those edifices; their artillery and engineer officers
had drawn them, anxious to carry away recollections of
their travels and of the magnificence of Grenada, as re-
spects the fine arts. Every thing is now broken up by
the new Vandals. The celebrated paintings of Santa
Clara and St. Pantalcone have been carried away by
retches who have given mere receipts in exchange to
the nuns who were the owners of them." The print
which Lewails this devastation, and reminds us of the for-
bearance of the French officers, must surely refer only to
f the invasion of 1820. Though Grenada may have been
.t 1 it is notorious that whole waggon loads of paint-
thespart ,
iegs wcre carried away by certain French Marshals in
preceding campaigns, without the monks or nuns
;vetting any !wept at ail for them ; and it is not less
certain that the very walls of the churches would have
round their way to France, if they had teen worth the
:cm ey utter .

EVENING EDITION•

THE ROUTE TO INDIA THROUGH

EGYPT.

40.
CAIRO, JAN. 28, 1841.—As the settlement of the
Eastern question, and the extension of steam communi-
cation to the eastern Presidencies by the Peninsular and
Oriental Steam Navigation Company, leave little doubt
that the high road to British India will now be perma-
nently established through Egypt, correct information
as to the mode and means of transit through that C311[1.•
try becomes a matter of public interest.
The following brief account of the journey from
Alexandria to Suez, of the passengers by the January
trip of the Oriental, may be deemed of sufficient inte-
rest to merit a place in your columns.
Tee o:iental was under steam on her vogage from
Falmouth to Alexandria only 12 days, 9 hours, and 45
minutes ; but the advantage to the passengers which
would have been gained by so short a run out, in afford-
ing them tires for proceeding leisurely through Egypt,
was lost by our being detained at Malts nearly three
dap, edting for the steamer from Marseilles with that
portion of the Indian mils.
We arrived, howo er, at Alexandria early on the
morning of the 18th instant, and were met by a report
that the arrival of the Bombay steamer at Suez had
already been telegraphed from Cairo, which, however,
turned out to be incorrect. _ _

The anxiety of the passengers as to their being able
to reach 3ucz in time ta save the sailing of the steamer
for Bombay being therefore very great, Messrs. Briggs
applied to the Paella for the use of his small steam-
yacht, then at Atfeh, on the Nile, to take the pas.
sengers up to Cairo.
Tne P.cha, with his usual attention to Indian tra-
veters, readdy granted his permission, provided Com-
modore Sir Charles Napier, to whom he had in the
mean time lent the steamer, offered no objection. The
Commodore very kindly waived his priority of right to
her, and the necessary order was obtained.
We started from Alexandria for Cairo about fivs
o'clock in the afternoon of the day of our arrival, em-
barking with our luggage, &c., in track-boats on the
Mahruoudieh Canal, the mails being despatched by don-
keys o• e; hand. The large track-boat, in which, with
atiout thirty of the patty, I happened to be, was a very
commodious vessel of about 130 tons, fitted up with
two cabins, one for ladies, and another for gentlemen,
and has a large luggagc-room ; has sofas all round the
cabins, with dining
Stables in the centre, windows in the
sides, and is, in short, in her interior arrangements,
very similar to a Gravesend steamer, but is much too
heavily built for speed.
We found plenty of refreshments in the English
idyl-, with good attendance, &e., on board of her.
She was tracked by four horses, and we arrived at
Atfeh, on ae Nile, a five o'clock in the morning of the
19th, having been twave hours in tracking the distance
on the canal, 48 mites.

Thy Mahmoudieh Canal is by no means the sort of
slimy ditch which, from some representations, I was led
to conjecture it. It is vcry broad, the banks in several
places adorned with viPas and rows of trees, and, on the
wbolr., being free from lock?, presents more the appear-
ance of a river than a canal.

At Atfeh, a wretchel cluster of hovels, we experi-
enced a delay of eight hours, in consequence of a de-
tention which happened to Mr. Hill, who was left to
follom us frtim Al:,,xaldria with a " teskera," or official
order for the steamer, and some of the party, there-
fore, yielding to their impatience, proceeded in canduos
or Arab boats.

The remainder embarked in the Pacha's steamer,
with which west arted for Cairo about three o'clock, p.m.
After :flaming about twenty miles one of the engines
broke down, and we had to perform the remainder of
our journey with ore engine. 'File distance from
Atfeb to Cairo is variously stated at from ninety to a
hundred and fifty miles ; it depends, however, on the state
of the N At high Nile, when there is no necessity
for following all the sinuosities of the channel,, the
distr nee is much shorter than at low Nile. At present
the river is getting low, and as the steamer, with the
ptssengers and luggage on board, drew nearly three feet
water, much caution and a thorough knowledge of the
river was necessary to prevent our getting aground.
Fogs occasionally occur on the Nile, and in one of
these we were forced to drop the anchor, and wait five
or six hours.

The average strength of f.e current was about three
miles an hour.

We arrived at Cairo about 7 o'clock p.m., on the
21st inst, and were glad to find that we were in advance
of a° mails. The party located themselves, therefore,
in tranqaillity at Hill's and Waghorn's hotels respec-
tively, where excellent English dinners were found await-
ing them, and the saloon tables covered with Indian
newspapers of dates from Bombay down to the Ist inst.
We found also that the Victoria had only arrived at
Suez on the 18th. As the mails from Alexandria bad
not arrived, it was arranged that we should not start
fcr Suez until Saturday morning the 22d, thus giving
the travt Hers a day clear for seeing the lions in and
about Cliro, and which was occupied in visiting the
Pyramids, the citadel, the gardens and palace of Shoo-
bra, Oto slave market, shopping in the Grand 13.tzaar,
&e: At 9 a.m. of the -.23d we started in grand proces-
sion for the Desert.
Toe parties who had proceeded from Atfeh in the
Arab boats having a'so arrivel and joined us, the pas-
sengers amounted to fifty in numLer, including twelve
ladies and three female servants.
The mails consisted of 62 chests and three bags.
For the conveyance of the whela, with luggage, provi-
sions, &c., the following means were required :-145
camels, 60 donkeys, 12 saddle horses, 12 carriage ditto,
7 carriage camels, 12 donkey chairs, 3 two•wheel car-
riages, and 1 four-wheel ditto. Camel and donkey
men, servants, &c., 130; escort of Arab horsemen, or-
dered by the Pacha, 17 ; travellers, as alrealy stated,
50 ; total of bipeds, 197.
After threading our way through the narrow streets
of Cairn, we fairly emerged on the Desert en route for
Suez, and if Cruikshank or Alfred Crowquill could
have had a peep at us, he would hale found such ample
materials for a sketch as would scarcely have failed to
enrapture him. So mot'ey a group can only be seen in
the Desert of Suez. _

After journeying amidst much fun and frolic for
about 20 mi!es, we halted at station-house No. 2 ; and
the delicious exhilar, tag air, together with the :exer-
cise, having sharpened our appetites, we resolved to
make a demand on the commissariat department. Roast
fowls, terkies, and geese, hams, mutton, London porter,
pale ale, Port. Sherry, Madeira, Claret, and Cham-
pagne, with all necessary accompaniments, soon made
their appearance, and were disposed of, although some.
what is pic-nic style, to the apparent satisfaction of all
present. We then proceeded forward towards the centre
station, where we were to rest for the night, our Arab
escort, for lack of any teal Bedouins to encounter,
amusing us with sham fights, in which they, displayed
great dexterity in the management of their horses.
At 12 at night we stlppel ct the centre station, a
distance of 45 mi'es from Cairo, where tea, coffee, and
mapper were set out, and where we slept and break-
fasted, and then continued our journey towards Suez,
making another pic-nic dinner on the road at No. 6
station. We arrived at Suez about four o'clock in the
amarning of the 25th, slept at the hotels, and the same
Hor.ao the mails and passengers were embarked in the
Company's steamer Victoria, which forthwith de-
-parted for Bombay.

REMARKS ON THE ROUTE.
of
thestatin g
I have no hesitation in
the natural facilities
speaking, generally, that such are
rout,t_ through Egypt, that
,nfitng
with, comparatively
be made as expeditious and convenient as most routes
expense, it may
England. With the
of a similar distance even ii .lfg
exception of the nine miles
1-060 n-house, which is sandy, trkotera Cairo
6, to the
road between Cairo and Suez is a harcr-° e of the
gravel, equal
to the generality of country roads in England
to the Macadamising system. - About 15 miles previous
No. 6 station and Suez requires clearing of rnoeoese
stones, which renders carriage travelling uneasy. The
stone', however, only require to be picked off and piled
up either in heaps or as a small fence on each side of
the road. ar d the Pacha will order this to be done at
once. This being done, carriages of any description
could travel tbo road, and, with relays of horses
at the station houses, the distance between Cairo and
Sarz may be done with ease in 12 hours. A steamer
of good power, and to tow an iron luggage boat, would
do the distance from Atfeh to Cairo in 20 hours, or
with the stream, from Cairo to Atfeh in 10 hours, and
with a proper track boat on the canal, similar to those
used on the Shannon, that distance might be done in
ileve
n hours ; thus reducing the transit through Egypt
to 39 hours of actual travelling one way, and to 29
hours the other.
These improvements will speedily follow the defini-
tive settlement of the political question. In the mean
time, to talk of privations
a even in the present state of
affairs, is idle. •whyreeven a sketch of our journey
from this to Suez,
recol-
lect with co other feeling for
th my own part I can
entertainingthat of having borne a
part in a large and very
The station houses in the Desert
i,
pleasure party.
are commodious,
especially the centre one, which in fact a complete
moderate-sized hotel, and withsomet
ball.teration in the I
arrangements, particularly in the s
11 II is about to make, will leave nothing to, wbheicdhesiTerd
in this department.
The hotels of Hill find Woghorn at Cairo are large
and well furnished, containing ample accommodationargfoer
100 travellers at a time. For invalids, or lathe, the
donkey chair forms as easy a conveyance as a palanquin-t
e
or sedan, and the climate is so fine, especially about this
period of the season, that
exposure to the weather is an
enjoyment rather than a privation.

THE WEATHER, Can exceed theand
favourableness of the pre-ent weather; it is as warm
in
sunny as is generally experienced in May. A gentleman
the neighbourhood of Beauty writes us :—"
we began oat-
sowing to-day, andshould the present fine weather continue,
we shall hive nearly the whole of that grain in the furrow,
by Saturday first." Another correspondent remarks—
" In favourable situations ground for
green crop is pre-
paring. Mr. Falconer of Lentran planted a field of pota-
toes on Thursday the 11th instant." A great deal of
barley bas been brought into the market lately owing to
the abane.ant crop of last year, Soma talez bale becn-i
ported to 135 at 44e, p6r quarter.q—inverntm