The Sun.
London, England, 1840-12-25 00:00:00

City, and has nothing to do with corn. You I
want to make it out that the exchanges are bad, because
they are 4to per:cent. lower. That arises entirely through
want of shipments at this season of the year. Very na-
turally this has the effect of there being fewer drawers of
bilk for goods shipped. Those merchants who are obliged
to remit bills cannot be so fully supplied, and the drawers
take advantage and raise their prices for the bills they sell.'
It is not to be doubted that the late warlike demon.'
monstrations have, to a partial and, perhaps, to a con-
siderable extent, given rise to a demand for gold abroad,
but that the evil is greatly promoted by the inordinate
speculation founded upon the actual short supply of
wheat to which we made allusion yesterday. (a million
quarters, though erroneously stated as a thousand
only) there can be no question.

CHRONlCLE.—Speculators begin to look forward
to the payment of the January dividends, anticipating,
from the dulness of trade and absence of commercial
enterprise, that money will become easy, and, from
want of better employment, find its way to the Stock
Market. This may probably prove correct, but we
should apprehend that, in the present unsettled state
of the Continent, the surplus money of our countrymen
would be invested in the Share Market in preference
to foreign securities.
The payment of the dividends will render no assist-
ance to the Brink in replenishing the bull:on. On the
contrary, the flush of money to be thus thrown on the
market will rather add to the discomfort of the D:rec-
tors, by tending to raise prices, and thus prevent the
continental merchants from appearing as buyers of our
goods. The intelligence received to-day, however, that
the various Powers, parties to the Treaty of July, had
adhered to the Napier Convention, has been looked
upon favourably. No one believes that Spain and
Portugal will come to blows, avid the feeling gains
ground that th 9 difference will be adjusted through
English mediation.

SUN.—The Funds have remained in a depressed state
to-day, bat it is difficult to assign any better reason than I
the uneasy state of the public mind in France, or in-1
deed througb3ut Europe, and the rumours in circula-
tion of certain operations being in progress intended to
facilitate the contract of a new loan for the Chancellor
of the Exchequer. For the ope&ng Consols have
realised only 881 to 85 ex. div. Exchequer Bills have
been steady at 2s. to 4s. premium ; Bank Stock has
been dull at 157 to 1.561; and the Reduced Three-
and-Half per Cents. have remained at 97/ to 971.
There was a slight improvement in Portuguese Stock
to-day, but the operations were nearly all for account.
The New Five per Cents. ranged from 313 to 30i,
and the Three per Cents. from 204 to 208 Spanish
Active hands were at 22.1 to 228 for Money, and 221--
to 23 for Account, not being quite so high as thy
averaged yesterday. Colombian Six per Cents. of
1824 were dull at 221, and Mexican of 1837 at a de-
cline from 28 to 278 to 8. Brazilian Stock was at 711.
aad Dutch Two-and-a-Half per Cents. only realised
51 to 504.
The Railway Shares were dull, and although they
did not vary much in price, the tendency was to de-
cline. Great Western were marked 24 to 23, the
New 10, the Fifth G to 61, the Birmingham New
to 23, the South Eastern 16* to 158, and the Man-
chester and Leeds' New 2 premium. Brighton
Shares were 8-1 to 8, and Birtr.inbaut an'l Gloucester
23 discount. Landon Joint Stock Dank Shares brought
3 premium.
The Foreign Exchanges this afternoon were still flat.
On Hamburgh the rata was a little firmer, but on the
other places much the same, being as follows :—Paris
2.5 f. 521:!. to 331., Arn,Urdam 12 2:1- Antvcerp 1.2 21.
Frankfort 148:1, liarnburgh 13 7, and Trieste 10 31.

---
SFIRIT of the PUBLIC JOURNALS

FROM THE MORNING PAPERS OF THI3 DAY.
( From the Morning Post. )

following in the-Globe of tight

" We a e sorry that t!,:e intemperete remarks of some of
our pain's have induced tl;e Journal des Lebnts to sup-
po4e thet this country entertains hostile feelings towards
to-atter!. The Deb .ts very properly sa)s : --‘ We have
reason to think that the language and sentiments of the
English Goveremem are not such as we have lately found
in the Leaden press.' We bog to confirm this view, and
to add that it is only a portion cf the press, and certainly
not that portion which iF gcneral'y supposed to represent
pablie opieion, which has indulged in offens;ve expressions.
Tile r some parties in epposition to the Government en-
couraged war projects, the Tories avowing their wishes
for the desti uction of Prunes, the Chartists theirs for the
conquest of Eighind. 11. e Standard suggested the reten-
tion of Acre and Cyprus."
in much of the ;shore passage we concur. But the
Globe is ,I.v.lty. of manifest injustice to the Tories;
and indeed to its own argument, when it accuses the
Tories as a body of avowing their wishes for the
destruction of France.. Does the Globe imagine that
whea it informs the French people that the Tories,
a body possessing unquestionably morn than any
other political party in Great 13:iiain of the perma- .
nent elements of power, ae ow their wishes Icy the
destruction of France, he says tliat. which), it it were
-believed, would tend ia any degree to iliay ilie feelings
of hostility towards this country which a certain pot-
tiest of the French people take so much pains to pa-
rade ? It is impossible that the Globe earl so ter (L-
-ecke itself. It is strictly necessary that the French
people shou'd disbelieve the Globe, as we hope and
think they will, or the alternative plainly is that their
hostility towards England will be ii.flimed—which
would be' a great evil—and justified too—which would
be an evil incomparably greater. It. is 'true, as the
Globe says, that the Stan-lard suggested the retention
of .Acre and Cyprus ; bat who in the whole world,
with the exception of the . Globe, or even with-
out this exception, when the party virulence
of the Globe has not obtained the ascendancy
over its reason and candour, pretends to be-
lieve that the Standard represents any body or any
thing in this country but its own folly, spleen, and
self-conceit, by the daily display of which it labaurrs
assiduously to bring discredit and ridicule upon the
powerful and patriotic party to which it affects to
belong ? What the Standard may have said upon this
or any other subject might very safely have been left
unnoticed. But, now that the Globe has endeavoured
to impart value and efficacy to what would otherAize
have been entirely harmless, we think it necessary to
show, by reference to a higher authority than our own,
that the wild suggestion of the Standard neither pro-
ceeded nor received any countenance from the 'Tory
party of Great Britain. In an able article on the
affairs of. the East, the greater part of which has been
transferred to our columns from the recent number of
theQuarlerly Review, we find the following passage :
" The French whole press and all French statesmen af-
fect to fear—or, indeed, may be really apprehensive-othat
England has some separate interest in there discussions—
that she has some latent design on Egypt or on Syria".
We think we may venture to deny, in the fullest and
most formal manner, on the part of the British nation, any
such unworthy, and indeed, preposterous, views ; and we
exceedingly regret that one—and we hope but one—re-
spectable English journal should have indiscreetly given
the colour of its authority to such an imputation—by sug-
gesting that England, as the recompense of the blood and
treasure she has spent in the contest, should retain posses-
sion of Acre, and some other points in tho Levant. We
believe the Government and the people of England will
utterly repudiate any such selfish, end worse than selfish,
proposition. England wants nothing in the Levant but
what she hopes to enjoy in common with all ma»hind—
fiientily relations, safe intercourse, and a general and mu-
tual civility and protection to persons and property."
It the Globe is as much the friend of peace as it
would be thought, it will, by reprinting this opinion of
the Quarterly Review, endeavour to counteract the
mischief it may have wrought by assigning to the
Standard a character and position to which the latter
certainly has no pretension.
(From the Morning Chronicle.)
!‘ Take care what you arc about; for, unless the edu-
cation you give is based upon religion, you are only
making so many more clever devils." So spake, it is
said, the Duke of Wellington, thirty years ago ; and
the I3ishop of Exeter, " who had it from a high quar-
ter," reverently repeats the oracular words, and gives
them currency through the country, as a divine guidance
to the benighted philanthropists who have (mistakenly,
it seems) learned from their Bibles, that " for the soul
to be without knowledge, it is not good." The
education plans on which people were, as the Bishop
says, " hot," when this thunderbolt was ,ages fed
for their annihilation, were those of Bell and
Lancaster. The Duke must have returned from
India a roost intense religionist far neither of
these plans to have satisfied his craving. The former
was the crea:aire of the clergy themselves, and re-
mains to this day the system of their pet schools.
The latter satisfied the sanctity of George 111.,
and the Tories have recently declared their ac-
quiescence ha its sharing an annual Parliamentary grant,
so that any more efficient popular instruction be
thereby precluded. We must suppose the young In-
dian officer to have endured a religious fast amongst
the idolators, which had stimulated his theological appe-
tite into a morbid voracity of theology. The well-fed
Bishop of Exeter should have reduced the fervency of
expression cccasioned by such spiritual privation to the
measure of .his own - temperance and sobriety.. We
etc-shod whether the authority of the Duke of Welling-
teo.n is at its highest upon the topics of religion and
oducation.
arnrdayr
atecruaillerf'euticleoil.,,l
eßre:tsciltoi:7lpionote.
siswEohsroe:eglrya
viiitei ay be pardoned
generally it is not quite decorous for B'sliwohapit-ssngolif'%i:stehnne.:igbtoruset-,
pet of peace to ~.
resell. to military dicta for direction in
Tile great merits of W s the Duke of el- •
isiPni;itZal rt;tabiysitn-.Z. means theological or educational. His
most brilliantly sueee.l%ful career as a General is the first ;
the next is that he cowed King, Lor de, and Commons
ghtfor,wroar4
lesapdc,:ark,inagnd a:edr; ematuienhg
into Catholic Emancipation ; and the third, that he
These qualities en-
titleing a habit of strai
:court they
rii.d schOol. II
twohbieeil
diess
iad
erraarteedvi ritnuep
public
men.
reverence in cetep
him to flinch
inu
peohntnrcebligion,". th 6
only meant that the spirit of Christianity pere
lose
e education some
o t
thleleiiiirgr'°‘tlL;aj(;:e.Yd
vale the communication of keowledge ; !het the mind