The Sun.
London, England, 1847-03-19 00:00:00

THE FOREIGN EXCHANGES.
It appears to us, on a re-consideration of the circum-
stances bearing upon the rate of exchange between Eng-
land and foreign countries, that we did not, on Saturday
last, gire sufficient prominence to the fact, that very
large amounts of English proper‘y are ,at all times
lying in the various commircial emporiums ;of the
world ; and that the tendency-to atiadvers-e7 rate .of ex-
change may be, to some extent, counteracted by realising
a portion of this property and remitting the proceeds. In
judging of the probable consequences of excessive impor-
tations of food, or other commodities, at any particular
period, men are rather too ready to assume that the
commerce of the country is conducted almost entirely upon
the plan of drawing bills at once against exports of
merchandise to other countries at the time of shipment,
and remitting these bills 'at once to the country on
which they are drawn. If that practice was as general
in England as in the United States, we might always
place the exports and imports of any given year against
each other, and pretty safely take for granted, that the
balance of excess on either side must be paid or received
in coin or bullion. •
But English commerce is not generally conducted on
the plan to which we have alluded. Owing to the com-
parative abundance of capital in this country, the trade,
both of import and eXeort, with many very important
markets, is carried on entirely with English funds. The
merchant buys manufactures, sends them abroad, and
waits until they are sold, when he invests the proceeds in
produce, and imports it into this country, without having
drawn or negotiated any bill of exchange in connexion
with thew. The imports ofone year, consequently, may.
and gener,dly do, IN present, and ought to be compared
with, the exports not of that, but of some preceding
year ; and, having been paid for in advance by this
country, their excess at any particular period cannot
exercise any influence upon the rate of exchange.
From the mode in which the trade to the East Indies
and China is carried on, there will probably be at all
times an amount of British property lying to the eastward
of the Cape of Good Hope, equal to not less than the whole
amount of British exports to those countries for eighteen
months or two years. The same remark will apply to
the Nest Indies, British and foreign, Brazil, and the
whole rf South America, with other markets of consi-
derable extent and importance. Whatever excess in
imports from those countries may have recently arisen,
we may look upon it rather as the natural result of the
large exports of the year 1845, than as a cause of pro-
bable derangement to the foreign exchanges.
Again, if our exports have recently declined in value,
so also hare the prices of some very important article's
of produce, in which returns are ordinarily received.
This is particularly the case in India and China.
Teas, which, last year, were selling at thirty
tack a pica!, could be bought at the date of the last
advises from Canton, for twenty taels ; and silk, which
had cotnmanded 500 dollars as bale, was selling at 400.
At Calcutta, indigo—although the crop was smaller by
30,000 maunds than that of the previous year—was
selling at 135 rupees per maund, instead of 175; and
sugar at nine rupees instead of eleven. These prices
will make a considerable difference in the amount of
Ott purchases, on British account, in India and
China ; and although, for the reasons above men
tioned, that fact has no direct bearing upon the
notes of exchange, it has an indirect operation upon
them of some importance. The smaller the amount
required to. purchase the necessary supplies of pro-
duee for England, the -larger will be the fund
applicable to purchase on account of other nations.
A very large portion of the Indian and Chinese
produce exported to the United States is now paid for
by means of English manufactures ; and it seems highly
probable, under existing circumstances, that a much
targ. r portion, not only of that, , but of all the tropical
produce consumed in. the United States, will for the
future be purchased through the intervention of British
capitalists, and with funds obtained by the sale of
British manufactures.
The writer of a recent article in the Times, to
which we adverted on Saturday, had entirely over-
looked the important facts above referred to, and
assumed that the whole of the heavy imports which
have recently arrived, and are now arriving, in this
country, must be now paid for, panly in commo-
dities, and the remainder in specie and bullion, to
the very great derangement of the monetary system
of the country. The tact, however, is, that very many
of them have been paid for long ago ; and no inconsil
derable portion of the remainder will be paid for by
means of British funds now in for, ign countries ; so
that the drain of bullion from this country, will pro-
()ably be much smaller than the great increase of im-
ports, aml the falling-off in exports, would, at first sight,
appear ta render necessary.—Manekester Guardian.

ASSIZE INTELLIGENCE.
HOME ClRCUlT.—Maidstone, March 18.
C4OWN COURT.—( Before Chief Justice Wiepit.)
josepi Erall, 28, formerly the clerk to the board of
.guar-
dians of the Tenterden Union, was indicted for feloniously
embezzling various sums of money to a large amount, the
property of the guardians, his masters; and he was also
charged upon several other indictments with forging accept-
ances to bills of exchange to the amount of 50€!., with in •
tent to defraud a lady named Edwards.
Mr. Horne appeared for the prosecutior, and Mr. Charnock
defended the p ironer.
At the sitting of the Court the prisoner p!eadfd "Not
Guilty," but he subsequently retracted that plea and pleaded
" Guilty " to two of the indictments for forgery.
Mr. CIIAJOSOCK addressed the Court and said, that having
looked over the depositions, lie felt it would be hopeless to
attempt to struggle with the evidence in support of the
charges against the prisoner, and he therefore considered
that it would not be .proper for him unnecessarily to occupy
the time of the Court, especially having regard to the pres-
sure of the business before it, by attempting to make a de-
fence when he felt assured that only one result could be ar-
rived at. He begged to say, however, on behalf of the
prisoner, that having filled the office of clerk to the board of
guardians between six and seven years. there could be no
doubt that before this unfortunate transaction he had borne
a high character for integrity, and he could also state that
it did not appear that the money obtained by the prisoner
had been squandered away in any debauchery or extrava-
gance; but it seemed that the prisoner was exceedingly fond
of philosophical pursui's, and had a great love of science,
and in pursuing these objects he had expended considerable
sums in purchasing expensive mathematical and other instru-
ments. la addition,he was instructed that the prisoner had an
aged mother and a sister, who was a cripple, entirety de-
peldent on him for support. The Learned Counsel concluded
by stating that lie felt he had no defence to make to the
charge, and he mast leave the prisoner in the hands of the
Court, trusting, under all the circumstances, his Lordship
would pass as lenient a sentence as he considered would sa-
tisfy the justice of the country. • .
His Lonnstur said he would look over the depositions,
and consider what judgment ought to be pronounced.
William Piety, 39, and Abel Harman, 33, were indicted
for a robbery, with violence, upon James Pearson.
Mr. Deedes and Mr. Rose prosecuted, and Mr. Mellor de-
fended, the prisoners.
It appeared from the evidence that the prosecutor is a
farmer residing in the neighbourhood of Tenterden, and on
the 12th of February he was returning home from market,
on foot, accompanied by another farmer, named Avann, when
they were attacked by five men, who used corsiderable vio-
lence towardl them, and the prosecutor was robbed of a 5/.
note, his watch, and some gold and silver money. The men
all got away, but they were traced to Canterbury and other
places, and the prisoners were soon afterwards apprehended,
when they were identified, and part of the stolen property
was traced to their possession.
. The jury convicted both the prisoners, and Piety; who hat
been before convicted of felony, was sentenced to be trans
ported for fifteen, and the other for ten years.

MIDLAND CIRCUIE—Derby, March 18.
(Before Mr. Justice Parrzsox )
James Cross, aged 54, was placed at the bar, charged with
the wilful murder of Ann Cross, his wife.
Mr. Sergeant Clarke and Mr. Hildyard conducted the case
for the prosecution, and Mr. Macauley appeared on" the part
of the prisoner.
The prisoner lived with his wife in Osborn-court, St. Peter's-
street, Derby. lie had formerly been a gardener, and being
esteemed clever at his business he had been employed by
some of the most influential men in the county. Some years
back he showed an aberration of intellect, and was under
confinement, and just before the transaction in question be
had only recovered from a serious illness. In December
last loud screams were heard, as though in the prisoner's
house. He ha 1 two daughters in shops in the town, and on
the day in question one of the daughters called at her father's
house. She sat with him for some time, and then expressed a
wish to see her mother, whom she understood was up stairs.
She was proceeding to ga there, when her father interfered
to prevent her. Upon this the daughter went to the house
IN one Mrs. Osborn, living in the same court, and told her
That her father would not let her go up stairs. Mrs. Osborn
went with the daughter to the house of Cross, and through
her interference she got up stairs, and there found her poor
mother lying on the bed with her throat cut, the floor being
covered with blood. The poor girl ran down stairs scream-
ing, and there found her father in the act of stabbing Mrs.
Osborn with a pruning-knife, whilst she was defending her-
self as well as she could. • Mrs. Osborn on tbat occasion re-
ceived many injuries, and her life is even now despaired of.
It would seem there was no doubt the man was insane at
the time, and this being clearly proved by the medical man •
called this day,
The Learned JUDGE directed an Acquittal on that ground,
and he was ordered to be confined during her Majesty's
pleasure.

: .
OXFORD ClRCUlT.—Worcestcr, March 16.
I'ARRI3 AND AN6TII ER V. orassEr. AND ?ETC,.
Mr. Sergeant Talfourd, Mr. Alexander, and Air. Whit-
more appeared for the plaintiffs; Mr. Godson, Mr. Selfe, and
Mr. Pigott for the defendants.
This case commenced yesterday morning. The plaintiffs'
case had not doss till twelve to-day. The plaintiffs are
owners rf some yarn and carpet mills on the River Stour, at
Lincombe, which were worked by that river. The defendants,
the well-known contractors, had been employed to make
some improvements in the navigation of the Severn, under
the authority of a local Act; and, in order to avoid a shoal,
made a canal of some length, parallel with the course
of the river, and joining it above and below the shoal ;
and further, in order to secure a sufficient depth of
water in the canal at all seasons for the passage of vessels,
made a dam and weir across the Severn, above the sipper
point of the canal and below the junction of the -StoUr with I
that river. The plaintiffs complained that the effect -of -this
weir was to hack and deepen the waters of both rivers above
it to such an extent that their mill was more frequently
prevented from working than it used to be formerly by the
natural floods. For this injury they brought the present
action of trespass on the case. Besides denying the "wrong
and injury," the defendants pleaded several pleas of justifica-
tion, founded on various sections of the local Act. They had
also, ,incc the commencement .4f the action, reduced the
height of the weir bv one foot. A great number of wit-
nesses were examined on each side, and the ultimate result
of all was a verdict, which was retutned about eight o'clock
this evening, fur the plaintitra—Damages, 500/.
.SlatTord, March 17.
Thrum o'CLocK.—Mr. Sergeant Allen opened the cone,
mission here yesterday, and attended prayers to thy, accord.
ing to.the custom usual on such occasions. Mr. Sergeant
Gar Ace arrived about one o'clock, and charged the grand
jury. and then proceeded to. try prisoners. Mr. Justice
Msule, it is said, will arrive from Worcester in the course of
the day, acd preside at Prius but it is learel that he
is not sufficiently recovered to undertake this duty. At
present there is only the Crown Court sitting. The calendar
presents the names of 81 prisoners, of whom nut one can
read and write snperiorly ; only three can read and write
well; and 19 can neither read nor write. Six are charged
with minslaughter, fifteen with robbery, nineteen with bur.
glary, one with sacrilege, thirteen with poaching, and six
with crimes for which Staffordshire has been long notorious.

IAILWAY COMMITTEES.
(YE Vi fiDA Y.)

HOUSE OF COMMONS.
GROUP XII.
This Committee met to-flay at twelve o'clock, in Room
25, (he Hon. W. S. Lascelles in the chair. All the other
members of the Committee were present.

Tilt SUN, LONDON, FRIDAY EVENING, MAR,CII l9, 1F47.