The Sun.
London, England, 1847-04-28 00:00:00

Morniag .EATIt4

LONDON, WEDNESDAY, APRIL 28, 1847.

The Lords met at Four, and
The Royal Assent was given by Commission to the
Fever (Ireland) Bill.
Their Lordships re-assembled at Five o'clock.
Several petitions having been presented,
The report on the Harbours, Docks, and Piers
clauses, was brought up, and received.

The Customs' Duties Bill, the Portland Harbo u
Refuge and Breakwater Bill, and the Insolvent
Debtors' Act Amendment Bill, were severally read a
third time and passed.
The LORD CHANCELLOR moved the second reading
of the Encumbered Estates (Ireland) Bill.

The Marquis of WESTMEATH, the Earl of WICK..
Low, and Lord ASHBURTON supported the Bill.
Lord 3IIONTEAGLB hoped that in the sale of estates
under this Bill, the land would be sold in smaller
parcels than it generally was.
The Bill was then read a second time, and their
Lordships adjourned. •
The Commons met at four o'clock.

Sir CHARLES NAPIER obtained leave to introduce
the Navy Enlistment Bill, authorising the SOVE-
REIGN to issue a proclamation when necessary calling
upon all seamen in Great Britain and Ireland to
come forward and enter themselves for the navy
within five days of the date of such proclamation, or
in default to be liable to impressment.
Mr. WARD did not oppose the introduction of the
Bill, but would not, on the part of the Government,
undertake the responsibility of such a measure.
Dr. BOWEING then brought forward his motion,
for the adoption of a decimal system of coinage cur-
rency and account.
Mr. HUMS seconded the motion.

The CHANCELLOR of the EXCHEQUER admitted that
much might be urged in favour of a decimal system,
but still he thought the prejudices existing on the
subject were so great, that whatever was done should
be done gradually. He was prepared to agree that
two-shilling pieces should be struck.
Mr. STAFFORD O'BRIEN congratulated the Hon.
Member for Bolton on his partial success.
Mr. SHEIL said, that as far as silver was concerned
the alteration was easy enough, the great difficulty
was with regard to coppers. He had no objection to
having a two shilling piece to be struck, to be called
a Royal.
After a few words from Mr. BROWN and Sir G.
CLERK, the motion was withdrawn.
Lord JOHN MANNERS then rose to call the atten-
tion of the House to the present state of affairs in
Greece, but before the Noble Lord had concluded his
speech, the House was counted out.

The situation of the discount market is the all-
absorbing subject of speculation amongst the mer-
cantile community.
In most instances discounts have become impossible,
and where parties can obtain them the rates sub-
mitted to on first-rate paper varies from 6 to 10
per cent.

The denial of accommodation in the manufacturing
districts, where bankers have depended on the re-
discount of bills in the London market, is adding to
the difficulties arising from the high price of the raw
material, and causing the total stoppage of some mills
and the working of short time in all.

From the best accounts we can collect not more
than one-half the quantity of corn ordered has as yet
arrived, and of that which has already come to hand
not more than one .half has actually been paid for, so
far as its influence on the specie is yet felt.
The Bank of England has ceased to be an institu-
tion which can afford relief. It can afford protection
to no class of traders, nor can the credit of its large
capital and long standing be brought beneficially to
bear. It is even forced, in a fruitless attempt to regain
its position, to add to the difficulties of the actual
crisis.

The unpropitious weather which we have lately ex-
perienced must tend, at least, to retard the harvest,
even should it be as abundant as desired.

Under these accumulated embarrassments, is it diffi-
cult to foresee the imminence of a commercial crisis;
or that sooner or later the Government will be con-
strained to interfere to prevent the headlong depre-
ciation of property, and the destitution of our labour-
ing population ? Is it that the Government waits fur
some even more severe test of the pressure before it
affords the requisite aid ; cr, does it entertain the
vague hope, in presence of so many realities, that the
crisis is but temporary ? We believe, and regret it
deeply, there are parties connected with the Bank
management who are prodigal in assurances that it
all will soon be over, and who assert that the Bank
has nothing else to do but to call in its securities,
in order to augment its reserve of notes. It is evident
this opinion prevails strongly in the Bank parlour, as
appears by the violent action on its securities within
the past week. Notwithstanding this futile attempt
of the Bank, the object aimed at (the increase in its
bank-note reserve), has not been obtained. The re-
serve is again diminished and a contrary effect pro-
duced, as a slight reference to the last return will
show.

Between the 10th and the 17th of this month the
Bank reduced its securities, public and private,
2,922,000/. Did its reserve increase in the same
ratio ? On the contrary, its reserve has actually
decreased by 376,572/. here is a violent action
without result within seven days. It is evident, while
the rate of discount is so high, that each reduction in
the securities of the Bank must produce a corre-
sponding one in the deposits. This is amply proved,
for within the same period the private deposits have
been called up to the extent of 1,253,045/. to replace,
no doubt, the accommodation denied by the Bank.
No sooner are bank-notes forced in at one door of
the Bank than they steal out at another.
In this state of things, which paralyses all trade,
and has become the anxious topic of all circles, not
one word until last night had been spoken, or ques-
tion put in Parliament. Has, therefore, a common
calamity, in which all are equally involved, become
a matter of so much delicacy, or are uur legislators
so apathetic, or so meek, before the great author of
all this mischief, or can the just complaints of the
suffering community find no voice, no advocate
within the walls of Parliament ? Is any one bold
enough to say the danger is surmounted, or can any
one indicate the quarter of the horizon from whence
a gleam of hope may be seen ?
We confess we have waited patiently before speak-
ing out so plainly. We expecteds this to have
seen the initiative undertaken, and the uanger averted,
either by the Bank, by the Government, or by Par-
liament itself. Let us cot deceive ourselves or expect
anything from party. It is not a party question, and,
above all, the present Government are free from re-
proach. The class most immediately affected and
whose fortune is in the scales, must arouse them-
selves to instant action. Parliament must be peti-
tioned; deputations from the principal towns formed,
and, late as is the session, a simultaneous effort made
tba d
o get rid of the Bill of 1844, which is now on all
s admitted as defective in principle and perni-
cious in practice.

The Duke of WELLINGTON
ctaNGTON has spoken out—the
the much-disputed
has at
lengthn beoefn tohbetained on
meltch-disputed question
premature discussions
that were forcedevery
on, at made to elicit
the nature and character of the
capacityN, hiCh that dis-
tinguished limited enlistment, I n thet n
tinguished officer in his official
tenderedf to
the Cabinet on the subject. The improprietypocedt
that
advice vi was
attempt was forcibly pointed out, the evil precedent
that would be established if the private and confiden-
tial communication that took place between the ser-
vants of the Crown, when considering the probable
results of any contemplated enactment, were to be

made public, and revealed to all who desired to satisfy
their curiosity, was clearly explained. It was mani-
fest that those opinions would be stated at the proper
time. It was certain that the illustrious Duke could
not rest satisfied with giving a silent vote on a
question so materially affecting that branch of the
public service over which he so worthily presides, and
that all the information that could reasonably be de-
sired would be obtained at the fitting period, and
before their Lordships were in any degree coimitted
either to the principle or the details of the measure.
Its opponents, however, were not satisfied. They
argued that this silence was clear and distinct evi-
dence that the Duke was opposed to the change, that
he considered it would take away from the efficiency
of the army, and be fraught with the most dangerous
consequences 10 the kingdom in general. In both
Houses this assumed hostility was dilated on to the
utmost degree. The greatest respect and veneration
was professed for his Grace's authority. The chief
speakers declared that if satisfied that it had his con-
currence and approval, they would withdraw their
opposition, and consent to the proposed alterations
It was almost certain that his Grace's assent had been
obtained ; that the Executive would not have
brought forward any measure relating to the army in
opposition to his wishes. It would, indeed, be a bad
compliment to the veteran to suppose it possible that
he could support a measure of such importance unless
satisfied of its propriety; but still it was repeated in
all places, both in and out of the Senate, usque ad
nauseam, that he was opposed to the change, and
foresaw its injurious consequences, and his name was
used as a tower of strength against the progress of
the Bill. Nothing can be more decisive than the
manner in which his Grace has now spoken. He
says, in alluding to the disastrous consequences
that would follow if the country were de-
prived of the services of old and experienced
soldiers—" It is my opinion, however, that the pre-
sent measure is not calculated to have such an effect.
It is my opinion, that considering all the circum-
stances connected with this measure, considering the
comfort that the soldier already enjoys, considering
the other advantages about to be conferred on him,
it is not likely to be attended with the effect
of diminishing the service of the old sol-
dier." And again—" And I earnestly recom-
mend your Lordships to let this measure pass ;"
and, subsequently, " and therefore I entreat your
Lordships to adopt it." Surely we shall no longer
have the repetition of these reckless and unwarranted
assertions as to the Duke's hostility to the measure.
The able and talented speech of Earl GREY in
moving the second reading of the Bill was perfectly
conclusive in its favour. He traced with a masterly
hand the improvements that have been effected of late
years in the condition of the soldiers, and their bene-
ficial results, not only in his conduct and character,
but also in his health and longevity, ameliorations
that had been so gradually introduced that few were
aware of the extent of the changes; and declared that
the present measure was strictly in conformity with
those already adopted, and formed a most important
step in the progress of improvement so long going
on. He explained the gradual change effected in
the system of corporal punishment, when, in the course
of twenty-one years, from the infliction of 1,200
lashes as part of a sentence of 1,900, they had come
down to a state of things when 50 lashes was the
maximum punishment. He traced the improvements
in the comforts of the soldier, in his accommodation
in barracks, his means of recreation, and the better
quality of his food. He showed the good
effects of regimental savings' banks and regimental
schools, and produced returns by which it
appeared that crime had diminished, that there were
fewer punishments of every description. There were
results no less remarkable in the diminished mortality,
by which the annual saving of human life was
1,035 men, equal to one whole battalion which had
in past years been annihilated by death. But, satis-
factory as were these statements, it was still more
pleasing to hear that improvement was not at an end,
that much was still to be done to render
admission into the army a boon to the
labouring man. The pension to the well-behaved
soldier will be restored to that established in 1806.
In fact, every means are to be taken to make the
soldier feel that his dismissal would be a severe
punishment, as it is now felt to be in the
police ; and when that is attained we shall have
attained every object. His Lordship also showed
the good effects of having in the country a body of
men trained to the use of arms, whose services could
be made available in case of invasion or any other
emergency. The second reading was finally carried
by a majority of fourteen. We trust that its efficacy
will not be impaired by any changes in Committee.
The utmost vigilance of its friends will be necessary
to guard against such an untoward circumstance.

Mr. DIETZ, the peddling schoolmaster of Portugal,
cannot fortunately obtain the arrears of his salary,
an I has, consequently, retired from the palace in
dudgeon. There is, therefore, some glimmering of
hope, though ac yet it is but feeble and fitful. Queen
MARIA DA GLORIA has, nevertheless, been so deeply
imbued with the policy of the Gallic intriguers, that
the present disasters are still likely to continue '
for a very protracted period. From the intelligence
which has just arrived from the distracted Peninsula
it would appear that the insurgents have, without
embarrassing themselves with any overt act of hos-
tility, encompassed the Royalists, and driven them to
extremities. By accumulating their forces south
of the Tagus, and evincing every disposition to pro-
secute their military endeavours, the Junta have so far
frightened the immediate advisers of the SOVEREIGN as
to induce her to appeal for protection to the naval
armaments of Great Britain. This alone is an im-
portant step of retrogression. This alone is a left-
handed concession to the populace. This alone is a
testimony that the bauble of kingly authority is
cracked and splintered. Queen MARIA is impelled
to seek that security from the English which her
erroneous system of government has denied to her
from the Portuguese. She has estranged herself
from her own lieges by her very unpatriotic proceed-
ings in the way of legislation ; she has yielded herself
to the moral domination of that true OLiyiER DALT-
BARD, the schoolmaster DIETZ. But the cause of the
multitude is becoming triumphant. Thanks to the
vitality which is inherent in every national and
rational conclave, the Junta are approaching the goal
to which they have been so long and earnestly
pressing onwards.
It cannot be forgotten in these peaceful days that a
reinforcement of Marines departed from Portsmouth
on the Gth ult., in the Sidon steamer ; and it certainly
cannot be forgotten that that military armament was
the bearer of fresh instructions to Sir HAmILTON
SEYMOUR, authorising him to make a direct proffer
of the triple mediation of the British, French,
and Spanish Governments. One proviso accom-
panied this offer of conciliation and recon-
ciliation—viz., that her Portuguese MAJESTY should
consent to the terms which had been previously and
repeatedly stipulated. Whether there be something
of hereditary obstinacy in the blood of the Bra-
g,
enzae or whether MARIA DA GLORIA is solicitous
to figure in history as a romantic fugitive—in an in-
cident, say, that might suggest a companion picture
to the escape of the Queen of SCOTS from Lochleven
Castle, or of MARY of Modena in an open skiff on
the Thames— it is certain that her MAJESTY
is struggling with the most insane perv‘.rsity
against a course she must ultimately be forced
to adopt. She rejected the proff'ered media-
tion on a former occasion. She has rejected
it again, and for a similar reason—the unpalatable
nature of the preliminary terms. Now, for the
better comprehension of the wisdom of Queen
MARIA'S refusal, let us examine the extent and cha-
racter of these repugnant terms. They may be very
briefly enumerated ; they are—the proclamation of
an amnesty to the insurgents, the dismissal of the
present Ministers, the establishment of a new and
liberal Administration, and the immediate assembling
of the Curtes. These are the ingredients in the
poisoned goblet tendered on the one side by the triple
mediators. On the opposite hand there is held aloft
the sharpened dagger of popular indignation. Like
Fair ItosAMOND, the Queen of PORTUGAL, has this
alternative alone. Let her, like Fair ROSA.MOND,
thl and she drain the goblet instead of tempting the dagger to
descend,
find that-the draught; isistead of
be
are uttering no fable
at;
glitter
ours
are
an
being
poisonous, is life-giving and exhilirating. We
not the
have
ee
n o prettily
meaning.tin-
selled sentences

We speak the language of conviction, and we speak
that language with an earnestness derived from our
anxiety to see the woes of enarchy prevented, and the
animosities which have unguardedly arisen between
the Portuguese and their youthful SOVEREIGN
brought to a quick and satisfactory conclusion.

Unless MARIA. DA GLORIA make the re-
quired concessions with an immediate grace,
they will ultimately be wrenched from her Govern-
ment with an ignominious harshness. Possibly, in-
deed, by denying the boons of constitutional liberty
to her people during too protracted an interval, she
may root out the prestige with which her name, her
anointed body, and her propitiating youth have
hitherto been invested. She may, by the dilatoriness
of her submission to circumstances, lose for ever the
glorious prerogative of her moral influence over many
millions of the human family. Before she endangers
the possession of that,inestimable treasure she should
yield to the dictates of prudence; she should recog-
nise her true safeguard, not in the frigates of a
friendly ally, but in the love of an ardent nation ;
not in loaded muskets, but in surcharged hearts; not
in a bragging and imbecile military, but in a loyal
and pacified population.

Intelligence from Lisbon to the 21st has been re-
ceived. The Canopus has taken her station off
Block-house Square, for the protection of the British
subjects and British property. Sir HAMILTON
SEYMOUR had proffered the mediation of the British
Government to arrange between the Government and
the insurgents. The terms of arrangement proposed
were the proclamation of an amnesty, the formation
of a new Ministry composed of the moderate men
of both parties, and the immediate convocation of
the Cortes. To this latter article it is said
objections have been made. DIETZ, it is satisfactory
to know, has at length been compelled to quit the
country. He sailed from Lisbon on the 21st, in the
Iberia. The expulsion of this foreign Maire du Palais,
cannot but tend to the advantage of Portugal. In the
meantime, MELLO and SA DA BANDEIRA are ad-
vancing upon Lisbon from the south, and matters
will, in all probability, be soon brought to a crisis.
The Junta have now an army of 14,000 men,
well fed, well armed, and well disciplined.
They have a large sum of money in hand
at Oporto, and are negotiating a loan. The
citadel of Viana is still unrelieved, and the garrison
will soon be starved into capitulation. SALDANISA
still remains in his old quarters.
H. M. S. Superb was fired on by mistake from the
castle of Queijo. An apology in writing was made
by the authorities of the Junta for this mistake of
their officer.

Madrid journals of the 19th have been received.
Don FRANCISCO had appeared in public with the
QUEEN on the 18th, the first time they have appeared
together for several weeks. It is rumoured that the
financial measures of SALAMANCA will be strongly
opposed in the Chamber of Deputies. Should they
be beaten, the Ministers, it is said, will resign, in
which case it is possible that the QUEEN may confide
the task of forming a new Ministry to Senor
OLOZAGA.

In consequence of the formal application of the
Portuguese Ambassador for assistance, four thousand
men have been ordered to march to Badajos. Count
DE VISTA HERMOSA is their temporary commander,
but he will be succeeded by General MANUEL DE LA
CONCHA, so soon as the latter shall return from Paris.
An army of seven thousand men is now assembled on
the Portuguese frontier.
MADRID BOLSA, APRIL 19.—The Three per Cents.
declined j. per cent. on the Madrid Stock Exchange
on the 19th, and closed at 30i for cash; the Five per
Cents., 20 ; the Passives, 6 ; and the Coupons, 17 for
cash.

We have received the Paris papers of Sunday.
The Journal des Debats has the following from
Lisbon :

" We have this evening received important news from
Lisbon, which induces us to hope that the violent crisis
which has for so long a time agitated that unfortunate
country is at length about to end. The Queen of Portugal
having, agreeably to the stipulations of the treaty of qua-
druple alliance, claimed the intervention of France, Englat.d,
and Spain, those three Governments have hastened to corn-
ply with her desire, and to assure her of their effectual co-
operation. The Queen offered the insurgents a complete am-
nesty, the re-establishment of the charter, the convocation
of the Cortes, and a mixed administration, consisting of mo-
derate men of both parties. A *part of time crews of two
English ships, of a French brig, ftißi of a Spanish corvette,
stationed in the Tagus, have been landed. in order to co-ope-
rate in the defence °lithe Queen and Royal Family, as well as in
placing in safety Lisbon, which capital is seriously threatened.
On the 12th of April the insurgents were in the following posi-
tions :—The left bank of the Tagus had been invaded by the
Count de Aiello; he had entered Setabal, and even taken
possession of Palmella ; be had driven from it General Abren,
who, with the wreck of his troops had retired to the for-
tress of Almala, situate at half a league from Lisbon, on the
right bank of the Tagus. There the Queen's troops could
easily hold. Lisbon had not ceased to be calm, all the tur-
bulent and disaffected portion of the population having long
joined the insurgents. The English ship the Canopus was
stationed in front of the Place of Commerce. The Sidon
had arrived on the 11th of April at Lisbon, from England.
The departure of Counsellor Diets was more than ever
talked of, and it was said that the Viscount de Carreira
would, in his stead, superintend the education of the Prince
Royal and Infantes. That the insurgents would accept the
Queen's proposals was not doubted. Four thousand of
Spanish troops have been ordered to march to the frontier of
Portugal.

The same journal announces that a reconciliation has
taken place between the Queen of SPAIN and her
husband, Don FRANCISCO, and that the latter had,
for the first time, received the new Ministry.
According to the Union illonarchique, NI. Bois LE
COINITE is to be the new French Ambassador at
Madrid.

The rumour of the submission of the Kabyles is
confirmed by a telegraphic dispatch from Algiers, of
the date of the 20th of April. The mountaineers
acknowledge themselves subject to France, and will
pay her an annual tribute, which shall be remitted to
Algiers. No enemy to France shall be received in
the mountains. All Europeans shall travel in the
interior of the country in perfect safety, and the
roads shall be kept free and safe by the tribes and
their chiefs. On the other hand. so long as these
stipulations shall be observed, the Governor-General
of Algeria engages, in the name of France, not to
march any French troops into the country.
" The importance and utility of such a convention -will,"
says the Journal des Debate,_ " naturally strike everybody.
The grand expedition to Kabylia, which has so often been
talked of, becomes useless; and the disagreement which had
arisen respecting the expedition between the Budget Com-
mittee of the Chamber of Deputies and the Minister of War
is thereby appeased. The vast country which now spon-
taneously submits forms a triangle, the basis of which
extends on the Mediterranean from Dellys to Budgie, and
the summit of which is at Setif. Budgia and Gigelli, which
are the two natural ports of Setif, had been blockaded tor
fifteen years pa,t on the land side. Henceforward, Setif,
which supplies itself by Constantine, will enjoy those two
outlet!,, and already have French supplies been conveyed
from Budgia to Setif by the Kabyles, and faithfully delivered
at the latter place. Henceforward, also, European trade will
be enabled to penetrate into a region which had hitherto been
inaccessible. The rich iron mines of the Jurjura will be
explored, and perhaps our engineers will soon teach the
Kabyles the mining methods of French science. The
prospects of Algeria are certainly greatly improved by this
convention,"

Several petitions, praying for the total and imme-
diate abolition of slavery in the French colonies, were
presented to the Chamber of Peers on Saturday.
On the 22d Mr. O'CoNN ELL left Lyons for Valence,
in a steamboat, accompanied by a physician of the
former town. The Learned Gentleman was to
sojourn in the south of France until he recovered
strength enough to resume his journey to Rome.
The weather was in Paris on Sunday " so inviting
as to attract to the races in the Champ de Mars the
speculators in the funds, who usually pass their
sabbath in the Passage de l'Opera. Little was doing
in the Three per Cents. in consequence. The price,
77f. 85c., was nearly nominal."
BUSINESS DONE IN FOREIGN RAILWAYS AT THE

LONDON STOCK EXCHANGE, Arm 26.
Boulogne and Amiens, 161,4—Dutch Rhenish, 33/—East
Indian, 43—Namur and Liege, 4111—Northern of France,
1258—Paris and Lyons, 418—Sambre and Meuse, 5%.

SERIOUS ILLNESS OF THE LORD-

LIEUTENANT OF IRELAND.

Very unfavourable accounts have been received in
town this day from Dublin, relative to the critical state
of the health of the Earl of Besborough, the Lord-
Lieutenant of Ireland.

MRS. TROLLOPE'S NEW NOVEL, " TUE TIMER
Corsi:es," in 3 vols., is published this day, by Mr. Colburn,
and may now be bad at all the libraries. Mr. Colburn has
also just published the following popular new works of fic-
tion :-2. The Story of Lilly Dawson, by Mrs. Crowe, author
of "Susan Hopley," 3 vols. 3. Temptation and Atonement,
by Mrs. Gore, 3 vols. 4. The Romance of War ; or, The
Highlanders in Spain, 3 vols. 5. Marston, by, the author of
" Salat Wel," 3 vols. 6. Emilia Wyndham, by the author of
"Two Old Men's Tales," 3 v 01.,. Also, just ready, Evelyn
Harcourt, by Mrs. Gascoigne, author of "The -School for
Wives," &c., 3 vols.
Dispatehus from the Governor of New Zealand and
the Cape of Good Hope were received yesterday, at the
colenial cthov.

MONEY and COMMERCIAL NEWS.
(From The Sun of Last Night.)

The Cotton market at Liverpool yesterday was very
depressed, and prices were i-d. per lb. lower. Sales
2,500 bales, all to the trade. Two thousand bales Ame-
rican were at 6d. to 'lid. per lb.—Railway Shares had
been very heavy again.

The sale of Railway Shares to-day, by Messrs. Lamond
and Co., was well attended; and, although prices were much
lower, a fair business was done. The following are a few of
the principal sales:—
London and Manchester (Remington's).. £0 4 6
Ambergate, Nottingham, and 805t0n...... 1 5 0
Liverp. Manch. and Newcastle-upon-Tvne 0 11 0
South Yorkshire, Doncaster, and Goole ... 1 2 6
Noithern Counties Union 1 10 0
Newmarket and Chesterford.
Manchester and Southaw.pton 0 16 6
North Staffordshire
Shrewsbury and Birmingham (A) 3 1 6
South-Eastern and Dover, No. 4 4 15 0
South Staffordshire
. •• .•..•• 1 18 6

West Riding Union
Royston and Liitchin
Great Northern
East Indian
Derby, Stafford, and ‘Vorcestershire .... 0 9 6

It is very much to be regretted that statements
should be made by influential journals, in times espe-
cially like the present, to cast blame and doubt upon
such a body as the Court of Directors of the Bank of
England. But such has been the course pursued in
the " City Department" of the limes of late. In the
monetary and commercial circles of the great metropolis
the charges, direct and implied, in the articles referred
to have little or no weight, because bankers and mer-
chants have superior sources of information to guide
them. But in the country it is far, very far, different.
Impulse there takes frequently the place of sound
discretion and calm consideration upon wildly
hazarded assertions emanating from our city, and a
course is pursued in most instances precisely opposite
to that which ought, under other circumstances, to have
been adopted. In the absence of facts bold assertions
have been too frequently of late made in the quarter
we have alluded to, the effects of whicn have been such
as we have stated. Alarm and bad management was
excited and alleged on many occasions. And now,
strange to say, when in the City it may fairly be
hoped that things have seen their worst, we are very
gravely told by the same authority this morning, " That
the excessive force of the pressure, which has occurred
to-day, is the result of exaggerated alarm will be at once
apparent on reflection. We are not suffering under any
contraction of the circulation. By the last return, the
notes in the hands of the public were 20,240,0001., being
higher than any amount at which they stood during the
entire months of February and March," &c. The ques-
here is asked, how stand these remarks, compared with
those which were made in the "City Department" of our
Contemporary many times previously? Who exagge-
rated the panic or alarm? There is but one opinion
upon the subject in circles competent to judge upon such
matters.

The advices received today from New York, al•
though advising higher markets for corn and cotton,
bring the exchange better, viz., 1044 to 105. When the
intelligence of the Bank of England's policy arrives out
there will probably be a further rally in the latter.

Accounts of March 3 hare come to hand from the
Cape of Good Hope. There is nothing new from Kafir-
land. Sir Henry Pottinger had arrived at Port Eliza-
beth, but, owing to the swelling of the rivers, had not
been enabled to proceed into the interior. An address
of congratulation had been presented to his Excellency,
but the reply given excites the colonists to rely upon
themselves, as well as upon the Government, and is cha-
racterised by the usual modesty of an able man.
There has been rather an improving market again for
the English securities, although the demand for money
in the Discount Market continues to be severely felt.
Consols have realised 851 to 861 for present transfer,
and 861.8 for time. Consols Scrip is 31 discount. Ex-
chequer-bills have fallen materially, having been done
as low as 4s. to 10s. discount. The New Three-and- a-
Quarter per Cents. have been 868 to 87k, and the Three
per Cents, 858 to 851.
In the Foreign House the transactions have been very
limited. Spanish Five per Cents. are nominally 24} ;
Portuguese Four per Cents., 34 ; and Mexican, 20. The
reported fall of Vcra Cruz will account for the heaviness
of Mexican stock. Dutch Two-and a-Half per Cents.
have been 581 1, and Belgian Four-and-a-Half per
Cents. 951.
Railway Shares have been much the same as yester-
day, with a limited business doing.

BRITISH FUNDS. ONE CLOSING
O'CLOCK. PRICES.
Three per Cent. Reduced Annuities 85% IA 85 w,
Three per Cent. Consols Annuities .. 86% 85% S6' 86 86t
New Three-and-a-Quarter per Cent. Anus. 87% 86% 117% 97
Long Annuities, Expire Jan. 5, 1860 .. 8 15-16 9 9
Ditto, 30 years, Jan. 5. 1860 .. 9t
India Bonds, 1,0001. .. 5 dis 5 dis
_ _

Ditto, uude. 1,0001. .. 12 dls
00nrola for May 27 • • • • • • • • • 86N, %.

12 dis

Three per Cent. Consols, Scrip . dis dls
F.xchequer Bills. t d. 2d.

1,0001...
5001.
Ditto. Small

.... 10 5 10 4 dis
.... 4 3 10 (Hs
.... 3 10 dis
ONE

10 dis

10 dii
CLOSING
PaCES.

FOREIGN FUNDS.
Danish, 3 per Cent •• ••
Mexican Bonds, 1846, 5 per Cent ..
Ditto, for the Account .. 20
Portuguese Four per Cent
Ditto, for the Account
Spanish Bonds, 5 per Cent ..
Ditto, for the Account 24%
Dividends on the above payable in London.
Belgian Four-and-a-Hall per Cent .. 95% 95%
Dutch Two-and-a-Bali per Cent .. 58% % 58%
Ditto. t per Cent. Certificates .. 89 88yy 88%
BUSINESS CLOSING
PAID. DONE AT PRICES.
ONE O'CLOCK.

PRICES OF
RAILWAY SHARES.

.. .. .. 34

Aberdeen.. .. .. 30 .... 25 26
Amber., Notting., Boston, and
Eastern Junction .. .. • • 2% .... 11,‘ % .. •. • • 1
Birmingham and Oxford Junction 10 .... 17% X •• .. • • 17X
Birming., Wolver.,& Stour Valley 5 •••• • • • • • 5%
Boston, Stamford, & Birmingham 5 .... 6
Buckinghamshire 61. 45... .. % dis dis.
Caledonian • • .. 30 .... 23% 24 24
Cheltenham and Oxford .. .. 2 .... 114
Eastern Counties . -. 20 .. 18% % ...•
_ _

Do. I'erpet., 5 per Cent. No. 1.61. 13s. 4d. • • .. p
Ditto, ditto.. No. 2. 61. 13s. 4d. par .... • • • • • • % p
Ditto, York Extension .. 614 .... 4% 5. .• • 6
East Lancashire .. .. 17 .. .. 15 .••.. • • • • 15
Ditto New .. .. • 5% • • 5%
Ditto, ditto New Scrip • • .. 1 ••.. • • • • 1
East Lincolnshire .. 4 .... 534; % •• .. 5%
Edinburgh and Glasgow .. .... 70 .. •••• • • .. 70
Ditto, Half Shares .. .. 10 17%
Ditto, Quarter Shares • • .. 12%.... 17 • ..... • ... 16%
Ely and Hunting An.. 15 ••• ••..•• • • .. 141
Great Northern .. • 3% 2%14 .• ...... 214
Do., London & York Extension 2% .... 1% 1%
Great North of England . ..100 ....231 .•••.. • • .. 231
Great Western 85 .• .. 112 • • ..... ... 113
Ditto, Quarter Shares .. 12%.... .......... 16%
Ditto, New .. 4% .. • • ••• • • • .... 7
Huddersfield and Manchester .. lb .......... 18%
Leeds an Bradford • • • • .. 40 .... 83 ....
Leeds and Thirsk 22% ~........
Ditto, Preference 6 per Cent. • • 3%.... .......... 3%
Liverpool, Crosby. and Southport 2 .... %..•• • • .. 254
London and Blackwall .. 161. 13s. 4d. .• • 7%
Ditto. New, No. 1 . • 5 •• • • •5% • 54
Ditto, New. No. 2 .• 11. 13s. 4d. 9 p.- ••• • • • N. P
Ditto, Extension •• • - • • 7% •• • • 3 •• • •," •• • • .1
London, Isr s tton, and S Coast . • 50 • • 51 A..... • •
Ditto. Cousol. Eighths .• • •
London and Greenwich • . 121. 158.• •'
172
London and North-Western •3
•
Ditto. Quarters ..
nares L. and 1.1°°7 ::• 22
.. 22
Ditto ditto, News
2 .... 11%
Ditto. Fifths 2 .... 15 14% .. • • 14%
Ditto, 101. Shares M. &B. (A) 5 •••• •• .. 10
Ditto, 101. Shares M. &U. (13) 5 ....
London and South-Western • .41/. 68.10 d... 62% , .....
Ditto, Tenths (Consolidated) • . 50 •• . • 52%
Lynn and Ely .. 20 „ „ .........
Manchester and Leeds .. 82 99 .
Ditto, Quarter Shares .. 12 .... 15 14%
Ditto, Fifths .. 5 .... 9 .....
Ditto, Thirds (Reg.).. ..71. 45..... par % p p
Ditto % (late Iludiers. & She.) 23 .... 23% •• •• • • '23
Manchester, Buxton, & Matlock 425. % p....., % p
Manchester and Southampton .. 2 ....
Midland .. ..100 —.113% 113 ll3
Ditto, New 36 •• .. 38%

62%
52y%
214
99
14N

Ditto, New .. 2 .... .... • •
Newcastle and Berwick .. •• 20 .. • • 24% % . 24%
Ditto, New .. .. • • . 5 .... %
Norfolk .. • • .. .. • • ..100 ••..
Northern Counties Union .. .. 4 ....
North British .. 25 .• • • —
Ditto. Halt Shares .. .. • • 12% ••• • • • .... • •
Ditto, Quarter Shares • • .. 2% •• .. ..
Ditto, Thirds • • .. • • • • 1 .... 2%14 • •
North Staffordshire .. • • • • 5 .• %% • • 6%
Ditto Scrip (late Churnet and
Blythe) ." • • - .. 2 .• ..... 2%
Oxford,Worcest.,& Wolverhmptn. 22%..... 13 .. ...... 13
Preston and Wyre .• 25 .... 34% • • • 34%
Beading, Guildford, and Reigate "5 .. .. 4% •• • • •• ..
Royston and Hitchin . - • • .. .... 1% ..
Scottish Central • • .. . 17% .... 23% ..
Shrewsbury and Birmingham .. 3%....
Shropshire Union .. 425..... . 1 dis.
South Staffordshire .• • . .. 21. 125... %%dis.. dis
South Eastern and Dovor .. • • 33%.... ..........
Ditto, New (iss. at 321.) No. 1. 20 ... 204 •••• • • • •
Do.. New (do. 30/.) .. No. 3. 15 ..........
ho., New (do. 151.) .. No. 4. 5 .... 4
R,uth Wales •10 7
Vale of Neath .. 4 .... ..... .
West Riding Union • • • • .. 4/. 25... .. par ..
York and Newcastle .. 25 .... 33% •• • •
Ditto, Preference .. .. 4 .... 64i% U 34 .. • •
York aad North Midland .. 50 81 •• • • ...• • •
Ditto. Extension • • .. .. 25 40 ••..•• • • • •
Ditto. Preference • • .. .. 2 .... ••••• • • • • •
Do. E and W. Riding Exteri... 10 ...• 20% ••••• • • • • •
FOREIGN RAILWAYS.
Boulogne and Amiens .. .. 20 .... 16%•. •••• • • • •
Demerara .. .• .. • • 2% •• • • 23i•••• • • " • •
East Indian .. • •• •• • • • •
Lyons and Avignon (Constituted) 5 .... 2 .....• • •
•
Namur and Liege • • • • • • • •
Northern of Francs • - • • • • 8 •• • • - •"• • •
Paris And Lyons • • . • • • • •
Paris and Orleans .. .. 20
37
35
Paris and Rouen • • • • • •
Paris and Strasbourg • • • 5
14 •
Tours and Nantes .. • • •• ••• • 8
.... 3
West Flanders ......MIXES.

2U
1,4 dis
33%
_6%

Real del Monte, Unreristered
COURSE OF EXCHANGE.
Amsterdam ~ ....C.F. 12 7 I

Ditto, at sight 12 4
Rotterdam ••• • •• U. 12 7%
26 20
Antwerp • • • • • , • • •• • • • •
Ilamburgh .... • • M.B. 13 13
Paris, 3 days' sight .. • • 26 80
Ditto, 3 months 26 16
Marseilles •• • ..•• 26 25
26 20
Frankfort on Maine 122%
Petersburgli, 3 Us
Berlin
Vienna, effee.f10.....• 10 12
Trieste. ditt0......„ 10 12
Madiid ....... : 47'4'
Cadiz •• • .. 473i
Bandon • • ...... • • • •
.... r, .•

Leghorn ............. • 30 70
Genoa..
Milan ...... .....
Venice... .
Naples .............. 40
Palermo, 1195
Li5b0n.......... 53
Oporto • • .. • • 6414
Rio Janeiro • • ... ••• • • 2654
Buenos Ayres —
New York, 21 days' sight
Philadelphia .... • •
?Men OF BULLION, PIZ os
Foreign pola *bars.. Z 3 17 9
New Dollars ••.. •• 0 0 0
Portugal Gold Coin •• 0 0"''0
Spanish Doubloons .. 0 0 0
WU _ 0 0 0

THE UNITED STATF.S.

FOUR DAYS LATER FROM
AMERICA.
LIVERPOOL, MONDAY.
By the packet-ship Margaret Evans, Captain
Pinker, we have received New York papers to the
7th inst., which bring the important intelligence of
the reported surrender of Vera Cruz, hi ter a severe
struggle, and a great loss of life on both ,ides.

(From the IVew York Sun 4 Apri 6).
REPORTED CAPTURE oF VELA CRUZ, WITH
A LOSS OF EIGHT HUNDRED AMERICANS.
WASHINGTON, APRIL 5, EIGHT O*CL,,CK,

---
Passengers who came on this afternoon in the mail-
boat say, that as they were leaving Charlesto❑ an agent
came running down to the boat and halloued to them
that a vessel had just arrived, briiging intelligt.nco that
Vera Cruz had been taken, after a desperate resistance,
with a loss of 800 on our side.

New Orleans papers of the 29th have been received
by the southern mail of this evening. They are filled
with the details of the incidents alluded to yesterday,
but no later intelligence.
They state that the revolution against Gomfz Farias
was making headway, and it is thought he will be put
down. The coalition new is between Santa Anna and
the clergy.
It was also reported that the priests have sent him two
hundred thousand dollars, as an earnest of their deter-
mination to support him.

FURTHER PARTICULARS FROM VERA CRUZ.
Sun-office, New York, April 6, 11 o'clock A.M.
The fine steam-ship Southerner, Captain Berry, ar-
rived at nine o'clock this morning, sixty hours from
Charleston, within an hour after the arrival of our ex-
press from Philadelphia. We have received files of the
Charlesion Mercury, Pat icit, courier, and News, to-
gether with New Orleans papers to the 30th ult.
We copy the following interesting particulars:—
(Correspondence of the Picayune)
Camp near Vera Cruz, March 13, afternoon.
There was some slight skirmishing yesterday after-
noon and last evening, and before daylight this morning
a general alarm in camp, as the Mexicans opened their
different batteries, and commenced throwing shells from
the castle, yet it amounted to but little. The enemy
evidently expected a general attack, as they threw up
rockets, fire balls, &c., completely lighting up the saud
hills and chaparal around the walls.
During the night a reinforcement of eight hundred
Mexicans passed into the city, taking the beach north of
General Twigget's command, which had not at that
time fully completed the investment. Their safe arrival
within the walls was announced by loud shouts, the ring-
ing of bells, and other rejoicings. In a few hours longer
they would not have got in so easy.
Our loss in the affair of the 11th was seven slightly
wounded, as follows:—South Carolina Regiment:
Lieutenant-Colonel Dickinson, W. H. Ballad, L,•wis
Conka, and J. E Phillips—Georgia Regiment: B. F.
M'Donald (sun of the ex-Governor), John G. Eubanks,
Thomas G. Scott, of Mississippi.
The wound of Lieutenant-Colonel Dickinson, of the
South Carolina Regiment, is improving. No other offi-
cers thantif °se already mentioned: have been killed or
wounded o far.

A fire, both of round shot and shell, has been kept up
on the command of Captain Vinton, stationed at the
lime kiln, near the south-eastern walls of the city, but
as yet with little effect. It is estimated that one of our
mortar batteries will be placed at this point.
Au 18-pounder belonging to the enemy had been
found by Captain Backus, Ist Infantry. It was just op-
posite the spot where our troops landed. The Mexicans,
it seems, had not time to get it planted, when the boat
struck the shore.

Another briliAnt victory over the Mexicans was re-
ported in New Mexico.
The packet ship Columbia had arrived at New York
on the morning of the 6th. The following is the state
of the New York markets:—
Flour and Meal—We note sales of 400 barrels of
Genesse at 7 dolls. 62ic. Sales to the trade at 7 dolls. 75c.;
1,500 barrels of Genessee to arrive from Troy, opening of
the river, at 7 dolls. 15e.

Rye Flour--Sales of 300 barrels nt 4 dolls. 621 e. to
4 dolls. 87kc.; stiles of corn meal, delivered in May, at
4 dolls. 50c., sad in June, at 4 dolls. 25c.
Grain—Corn continues to meet a ready sale at ex-
treme prices, ranging from 88c. to 100.%, white and yel-
low.

Oats—Sales 4,000 bushels of river, deliverable in
May, at 42c.

Provisions—Pork is firmer. We quote old prime and
mess at 12 dolls.',soe. and 14 dolls.soc. Sales new prime
at 13f dolls.; new mess, 15 dolls. 50c. to 75c., and 16
dolls. asked.

The receipt of two days later news from England gave
some animation to the market, and additional firmness
to the prices of bread stuffs ; but there is so little
hero to operate upon that there was no perceptible
change in the high rates that have been obtained for
the last few days. Tne latest dates from London and
Liverpool are of the 6th of March.
Ashes—Steady at 4 dolls. 87c. to 94c. and 6 dolls. 25c.
per pots and pearls, with moderate sales.
Cotton—FiLim sales yesterday and to-day, 2,500 bales
chiefly at our outside figures.
Upl. and Flor. Mub. and N. 0.
Inferior

Ordinary to good ordinary 104 to ... 10i to 11
Middling to good middling 101 to 11/ 11-i to 12
Middling fair to fair lli to 12,i ... 124- to l 2
Fully fair to good fair
Fine Done. none.

Freights are very unsettled. There are indications of
lower rates being established on account of the reduced
state of the market, but engagements were made fur
flour from 6,;. 6d. to 7s. 6d., and grain 21d. to 25d.
The Stock-market was active, with slight fluctuations
in prices. Six per Cent. Treasury Notes sold at 1 per
cent. prem.; the old issue (5 2.5 per cent.) at per
cent prem.