The Sun.
London, England, 1840-04-16 00:00:00

he Ist inst.:--.

" The commerce of the country has been, during the
past year, very much curtailed, and the business of the
United States has been drawn more within itself ; and if
we consider the position of the whole country, a war with
Great Britain would be far more detrimental to her than
to the United States. The trade of the United States
with England has become very important to her welfare, and
she is more dependent upon this country for a supply of
cotton and as a customer for her merchandize, than is
the United States upon tier. The United States embrace
every variety of clime, and produce, like China, every
thing within itself which is necessary for the sustenance
or luxury of its inhabitants. The first effects of a war
would be to bring back upon us for collection, sale, or
claim, nearly all the American securities floating in Europe.
This would no doubt cause some embarrassment. In the
next place, the planters at the South would feel
severely for the change in their market; but we must
consider that one half of a large crop has already
gone forward, the value of which would be much en-
hanced by a war. The growth of the following year
would be regulated by the demand from our own manu-
facturers, which would be much enhanced by the cessation
of foreign imports. The article of cotton forms two.
thirds of our exports, and will average about $60,000,000
yearly. This export is the main spring of our commerce,
and it would undoubtedly suffer to some extent in case of a
war, but it is of small importance when we consider the
vast interests of the north and cast, and all the manufactur-
ing States, which would be much advanced by it.
The above is from the City article of the Herald.
The following extract on the same subject, is from
the leading- columns of that Journal :

01 the issue of such a war there can be no doubt in this
country. The 20,000 regular troops now in Canada
might have the advantage in the first brush—but
like the army of Pyrrhus against the republican
troops of Fabricius, they would teach us to return
the tide of conquest, and to drive the one from this
continent as the other did from Italy. We arc of
the same blood as the British arc—of the same race

—the same people, animated and inspired by a spirit of
ambition and freedom that never can be conquered. The
result of such a contest would be the entire subjugation of
the Canadas, and the final subversion o. British power in
North America. Of this we have no doubt. Two-thirdsiof
the British colonies now envy our institutions, our laws, our
trade, and our glorious prosrcts. They are sick of living
in the midst of a camp. In other respects a war with Eng-
land would establish our domestic manufactures and domes-
tic trade on an immoveable foundation, while it would be
the ruin of the manufactures of England, with a certain pros-
pect of a revolution by the number of operatives thrown out
of employment. The loss of the British, or all foreign
trade to us is a bagatelle. It would only affect the foreign
and shipping merchants—the rascally stock- jobbers here
and their agents from Europe—while it would create new
sources of industry, and reanimate all those now in a state
of languishment.
We ale not, therefore, afraid of war, nor of its coming
as soon as it may—and if the British Government has
any wish to tempt the chances of a contest about that
territory, she will find in existence at this time five cr six

times the amount of the same glorious Fp; r t of indepen-
dence which compelled her to submit to the original terms
of the treaty in 1783. The same free, determined, reso-
lute pcopie—equal in mind and muscle to herself—can
compel her to accept a codicil to the will of 1776, either
in 1340 or 41 or 42, we are not certain which.

The state of the New York Money Market, at

the sailing of the British Queen, will be found
below. We subjoin a few extracts from the New
York Journals :
Loss OF THE BRIG ESCAMBIA AND FOURTEEN LIVES.
—The Escambia, Captain Dunham, whilst on her passage
from Charleston to New York, foundered at sea on Wed-
nesday last, and the Captain, second mate, three pas-
angers, one of whom was Mr. NI ilbur, of Newport,
R. N., and six sailors, were lost. Mr. Bu:kley, the first
mate, was :the only person saved. The Escambia was a
new brig, owned by Messrs. E D. Hurlbut and Co., and
insured in this city for $16,000. _ _

.
She sailed from Charleston on Tuesday morning, the
24th inst., at eleven o'clock. On the 25th, at four in the
afternoon, when between Flying Pan Shoals and Cape
Look Out, heading E.N. E., the wind commenced blow-
ing from the N.E., and increased until seven o'clock.
The brig was then knocked down on her beam ends whilst
under bare poles. She remained in this situation till nine,
and then began to sink, and finally went down bead first.
The mate, William Bulkley, was saved on a part of
the poop deck, which was detached from the vessel by the
violence of the sea. From this he was rescued by Capt.
Whelden, of the schr. Marietta Ryan, cn Saturday
afternoon last, at three o'clock, having been thereon two
days. He arrived here yesterday.
We have obtained the names of the officers and crew,
which are as fullow:—Rufus Dunham, Captain ; Win.
littlkley, Ist mate ; .1. E. Waite, 2nd do ; J. Cumber-
lain, cook; Isaac Smaddle, Harry Johnson John Williams,
Jehn Peters, James Lucas, and Adam Jackson, seamen.
The Escambia had a valuable cargo of cotton and rice
on boartl.

FROM, CANADA. —WARt.txx.—The following extract.
from a letter, received in Buffalo, looks warlike:—
" Chippewa, March, 1840.
" The people on this side want to fight. The General
Surveyors have surveyed Lundy's Lane and Chippewa,
and are now engaged in surveying Fort Erie, with a view
to a fortification. Orders have been just received to re-
cruit 3,000 men for five years-40 dollars bounty. This
certainly looks like fighting."