The Sun.
London, England, 1847-08-09 00:00:00

"It is impossible to form even the most vague idea of
the ultimate financial and commercial position of
this country. With all the wealth Europe possesses,
we are destined to surpass her, and in much less
time than many imogine, or would believe, we shall
stand the highest in the list of commercial, nations.
Our progress is so rapid that it is not astonishing
that we cannot keep up with it in our calculations ;
the changes are so great in such short periods, that
it is impossible to draw any inference from the
influence or effect of any movement, at one time, upon
things at another. We must reason from things as we
find them. Every year in this country is almost distinct
of itself : what would produce embarrassments this
this year, would perhaps have a contrary effect next.
While we are progressing so rapidly in wealth and re-
sources, our prosperity is becoming established upon a
sound, solid, and healthy foundation. We have such a
variety of interests within our own limits, that they will
in a few years support each other, placing all indepen-
dent of any foreign aid and comfort.
From Mexico we have by this arrival some inte-
resting news, not later, but giving particulars in de-
tail not brought by the last West India Mail.
PHILADELPHIA, JULY 15.—There has been less ac-
tivity in flour, but prices are fully sustained, owing to
light receipts. Sales of 500 bbls. Western at 5 dols.
371 e. and some at 5 dols. 50c. to the retailers. Penn.
flour, fresh ground, is held at 5 dols. 57c. with small
sales. Rye flour is nominal. Corn Meal : A sale at
dols. 35c. per bbl. Grain : A sale of 1,000 bushels
good red wheat at 3 dol. 15c., and a lot of prime at 1 dol.
20c. per bushel. Rye is worth 72 a 73c. Sales of 2,000
bushels Penn. yellow at 75c. It is wanted at this price.
A sale of New Orleans at 70c.

By the French steamer Union (Havre), we have
advices from New York to the 24th July. The New
York Courier and Enquirer says—
The Mexican war is, as it was. We have dates
from the city of Mexico to the first day of the present
month, up to which time it does not appear—how-
ever prevalent sports to tho contrary—that the
Congress had met to deliberate upon the renewed
propositions from this Government, through Mr.
Trist, for negotiations.
The idea still prevails, nevertheless, the negotia-
tions will come of this proposition, and the rather as
it seems to be understood that the offer was made
through the agency of the British Embassy in
Mexico, and that the earnest efforts of that Embassy
are exerted to secure a favourable consideration to
such offer.

Meantime, it is hardly doubtful that General Scott,
reinforced by some 2,500 men under Generals Cad-
wallader and Pillow, and with a further reinforce-
ment in view of about equal strength, under the
command of Colonel Pierce, on the road from Vera
Cruz to the capital, left Puebla about the 29th of
June, for the purpose of occupying the city of Mexico.
It does not seem to be the opinion of the American
officers that any serious or sustained resistance would
be made to the advance of the army, either at Rio
Frio or at the city itself; and great confidence is felt
in the opinion that within the first week of July
instant the American flag would fly in triumph over
the capital, unless the march of the army be arrested
by a preliminary acceptance on the part of the Mexi-
can Congress of the offer to negotiate.
Mr. Trist, it does not seem to be questioned, bears
with him in all due form, a copy of the treaty which
the United States are willing to consent to ; and if
the Congress of Mexico will accede to that treaty,
Mr. Trist, immediately on their doing so, is autho-
rised to pay down three millions of dollars. The
supposed terms of this treaty are, the concession by
Mexico of the line of the Rio Grande, for Texas,
and of Upper California ; in consideration thereof
the American Government will assume all the claims
of its citizens upon Mexico ; give her a discharge in
full, and probably offer her some additional sum in
compensation for the territory she will surrender.
However this may be, the impression gains ground
that a pacific solution of our difficulties is at hand ;
but doubt and delays yet embarrass its view.
There has been no fighting since our last. To-
basco has fallen to a naval attack, and the whole Gulf
coast and all its ports are in American keeping.
General Taylor remains at Monterey, without any
present indication of a purpose to march upon San
Luis.

Of the growing crop accounts are, upon the whole,
satisfactory, though recently in Lower Alabama and
Mississippi we hear of flooding rains, from which
damage is apprehended.
The grain crops all over are enormous. Some of
the new wheat of 'Western New York is already in
market, and is of the first quality.
The weather which has prevailed throughout the
wheat-growing country for the last three weeks has
been most favourable to getting the crops well in,
and the apprehension of a still further decline in
prices, and the certainty of a very large yield,
prompt the farmer to hurry the new grain to mar-
ket as rapidly as possible— so that, while there is
yet quite a considerable residuum of the old crop,
the overflowing new will be pressed into competition
with it.
Of Indian corn,-of which the harvest is in October,
the appearance is most promising, and the yield will
be unparalleled.

The potatoes, of
which the early crops here are in
the process of being gathered, are excellent in quality,
and show no signs of disease, and those in the ground
everywhere look well.

Our money market is quite easy, the credit of the
General Government high, and the stock of the de-
faulting States is appreciating.
Exchange on Europe is rather tending downwards.
Bills on London range from si, at which good bills
may be had, to 6i, the top price asked for the most
favourite signatures. On Paris the rate is 5 321 to
5 33. i.
SALES AT THE STOCK EXCHANGE, JULY 24.
5,090 dolls. Tr. Notes 6's b3O ...... 106
17,000 d9/10. U. 6'5 '67

THE UNITED STATES
AND MEXICO.

LIVERPOOL, SUNDAY.
'We have an arrival here to-day from New York,
with four days later advices from the United States.
The New York packet, John R. Skiddy, Captain
Luce, entered our port this morning, bringing papers
from New York to the 20th ultimo. A private
letter also informs us of the arrival at New York,
on the 19th, of the steamer Sarah Sands, after a
long passage.
The royal mail packet Britannia, Captain Harri-
son, had made another remarkably quick passage
from Liverpool to Boston. She arrive" on the
morning of the 17th, after a rapid passage of twelve
and a half days, including her calling at Halifax, to
land and take in passengers and mails at that port.
The New Yorkers were beginning to look for
their own native steamer, the Washington, which
they had no doubt would make her homeward voyage
in twelve days.
The commercial news taken out by the Britannia,
which was to the 4th of July, had a most depressing
action on the prices of breadistuffs in all the corn
and flour depots of the United States and Canada.
At New York, flour which commanded 6 dollars
12f cents on the 16th, declined on the English news
of July 4 becoming known, to 5 dollars 75 cents
to 5 dollars 50 cents, and at the latter quotation
sales but to a limited extent only could be effected ;
at that hour the steamer's letters had not been de-
livered, and in their absence both holders and specu•
lators were disinclined to operate ; a general opinion
prevailed that during the following days a further
decline would take place. The exports of flour to
England continued on a large scale, and 500,000
barrels would, in the month of July only, pass
across the Atlantic for Liverpool and other British
ports.

The cotton advices from Liverpool, of July 4, had
had the effect of making holders demand higher
rates: a few sales for immediate consumption were
made at an advance of cent per pound; the staple
was, however, generally withdrawn till the private
advices became public.

The grain crops throughout the United States and
Canada are represented as most abundant, and that
with a large additional breadth of land thrown into
the cultivation of wheat and Indian corn, this portion
of the world boast that, if needful, they can supply the
population of Europe at prices lower far than the cur-
rency which grain and flour have commanded during
the present year.
Business throughout the Union was most pros-
perous, money plentiful, accommodation at the banks
easily obtained on good paper, and altogether the
business of the Republic was " looking up and going-
a-head." A New York paper, not remarkable for its
modesty, thus writes :

EVENING,

AUGUST '9, 1847.

1,000 dolls. U. S. fi's '62 1054
5,000 dolls. Ohio 6's
5,000 dolls. Illinois 47
1,000 dolls. Reading Bds. b 61
2,000 ditto do. M. Bds. b 3
100 shares Harlem slo 6341
50 shs Reading . ........ a3O 671
50 do. Long Island
100 do. Farm's Loan slO 34/
Sales of Stocks at the Boston Board of Brokers, July
23.—Two shares Amoskeag Manuf. Co., 1,470; 11 ditto
Boston and Providence Railroad, 1081; 45 ditto Ver-
mont Central Railroad, 97; 100 ditto Norfolk and Wor
caster Railroad, 534 to 531; 6 ditto Boston Exchange,
450; 110 ditto Fall River Railroad, 944 to 95; 40 ditto
Merchants' Bank, 1031; 6 ditto Boston and Worcester
Railroad, 121. i; 50 ditto Reading Railroad, 34.

BANKRUPTCY.-(THIS DAY.)
(Before Mr. Commissioner FANE.)
IN RE THOMPSON AND SAFYIN.
Mr. STURGEON applied in the case of these bank-
rupts, for a postponement of the advertisement of adju-
dication in bankruptcy, for sixteen days. The applica-
tion was made on behalf of the bankrupts, with the
consent of the petitioning creditors whose solicitor was
present.

HIS HONOUR said he did not know that he had the
power of postponing it after adjudication. Under the
old law he knew he had not, but some such power might
exist in some of the many new laws.
Mr. STURGEON suggested that the Learned Commis.
sioner being a judge of a court of record had a power
of adjournment.

HiS HONOUR did not think that he had, for although
he sat under the Act William IV., and subsequent Acts,
their powers were under the old law except where ad-
ditional powers were expressly given.
Mr. STURGEON said, that if that was his Honour's
opinion they must go to the Court of Review.
CLOSING OF THE ACCOUNTANTS IN BANK-

RUPTCY OFFICE.
An order has been issued by the Lord Chancellor
for closing the books of the Accountant in Bankruptcy,
from the 17th instant to the 4th of October next, inclu-
sive, during which time no dividends can be declared.