The Sun.
London, England, 1847-10-16 00:00:00

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AKidVAL 131{1.1Ala
(EXPRESS FROM LIVERPOOL.)
(FROM OUR OWN CORRESPONDENT.)
LIVERPOOL, SATURDAY, SIX O'CLOCK, A M.
The royal mail steam-ship Britannia, Captain Han.
rison, arrived in the Mersey this morning. She
sailed from Boston on her regular day, October 1,
and brings one week's later news from all parts of the
United States, besides .accounts from Canada to the
time when she left Halifax. The Hibernia had ar-
rived out at Boston, and the Cambria was met by the
Britannia when about half-way across the Atlantic.
There is not any news of importance. Nothing fur-
ther had been heard from Mexico. A New York
paper of September 30, says—
" Accounts from Tampico to the sth of September
speak of letters from the capital, which had been re-
ceived there, with some of the articles of the treaty
then under negotiation. Santa Ary a's government
or commissioners had offered to recognise the boun-
daries of Texas as claimed by the United States, the
latter to restore California and all the cities, towns,
forts, and territories held by their forces, except the
city of Matamoras (whence the Mexican army issued
to begin the war), the latter to be separated from the
Mexican territory by a canal for that purpose,
Our latest dates are : From Mexico, August 29 ;
Vera Cruz, Sept. 5 ; Tampico, Sept. 5 ; Matamoras,
Sept. 10; Sante Fe, Aug. 11. Reinforcements are
being thrown forward to General Scott by way of
Vera Cruz, and a permanent arrangement is being
completed for opening and keeping open the road
from Vera Cruz to the capital. A force of Texan
Rangers is to be employed in this service. General
Paredes has put himself at the head of a respectable
Mexican force, with which he was marching upon the
capital, in violation of the armistice, to put down
Santa Anna. An opinion gains ground in the
United States that the movements of Santa Anna's
domestic enemies may lead to an alliance between
him and General Scott. Santa Anna has a native
army of about thirty thousand men. Santa Fe is
almost evacuated by the American forces, their term
of service having expired. Rumours were current
at Vera Cruz, on the sth, that Paredes had arrived
at the City of Mexico and imprisoned Santa Anna.
The Washington Union has advices from Vera
Cruz, which speak confidently of an early peace
with the Mexican Government.
The Vera Cruz correspondent of the New York
Sun states that the British Minister was making ar-
rangements to forward a semi-monthly mail from
Mexico via New Orleans, New York, and Boston, by
the Cunard steamers. An American steamer leaves
Vera Cruz on the Ist and 15th of each month, ar-
riving at New Orleans in time for the mail to reach
the next steamer leaving Boston for Liverpool. By
this route the distance between the city of Mexico
and London can be travelled in from twenty-five to
thirty days.
The papers now to hand contain numerous letters,
&c., from the United States army in Mexico; but
they mention nothing of importance, or what is
worthy of notice.
Respecting commercial intelligence one of the New
York papers says :
The two failures on the Stock Exchange, noticed
in our last, have been followed by a rapid deprecia
tion of the shares in which the parties had speculated.
With this excq)tion there has been no interruption to
our prosperity. Money is abundant, the foreign
exchanges rule in favour of the United States, and
everything indicates a sound condition of monetary
affairs.

Four and Grain Marke.ts—Since our review of
his day week there has been a very slight decline in
flour and grain, but the fall does not exceed six cents.
per barrel on the former, and two cents. per bushel
on the latter. Indian corn is in better demand,
owing to the limited receipts, and our quotations
show an advance during the week of three to four
cents. per bushel.
Cotton Market—This market is without change.
Prices rule the sam3 as on this day week, but they
are feebly supported.
Subjoined is the latest state of the markets at New
York
The Foreign bill market is well supplied with
good bills, which command the following rates .
On England, 1084 ; Paris, sf. 25c. a 4f. 284 e. ; Am.
sterdam, 39f a 391 ; Hamburgh, 353- a 351 ; Bre
men, 781. a 79.
The system of banking pursued by our city banks
is found to press heavily upon local manufacturers,
merchants, and mechanics. To obtain discounts it
is necessary for the dealer to have a large balance
constantly in the bank, so that the interest which he
pays indirectly generally amounts to double the rates
established by law. But there are few men in ordi-
nary business able to pay this heavy tax. Their pro-
fits do not warrant it. They find it more economi-
cal to club together and establish banks for themselves
in different parts of the State, under the general law.
They thus obtain greater facilities, are enabled to ex •
tend their business and furnish employment to larger
numbers of working people. The whole community
thus reap the advantages of the Free Banking Law.
The banks of this city and Albany, with the aid of
Comptroller Flagg, would abolish this system—
would compel the free banks to supply two capitals,
and redeem their bills at two or three points, each
some hundred miles from the other. We trust the
Legislature will lend itself to no such scheme. If
the banks of this city and Albany wish to do a legi-
timate business, instead of fostering stock and land
speculators, they have only to grant facilities to
honest men in active business, and thus remove that
pressing necessity which is calling these free banks
into existence. They having nothing to gain by in-
trigue with Comptroller Flagg, or any other state
officer. No Government aid can free them from

subjection to the laws of trade. If they cannot do

a profitable business without exacting twelve or
fourteen per cent. per annum from their dealers,
their management is _ either too expensive or too

corrupt to be safe for their stockholders.
Another measure of Flagg's hostility toward the
free banks is the tax law which he has submitted to
the Legislature. In this, however, if we are not
misinformed, he proves faithless to some of his bank
friends in this city, whose interests he had pledged
himself to sustain. His Albany banks may have
forced him into this exhibition of "panic faith." We
shall soon know how far the Legislature has been in-
fluenced by these banks.

The Boston Transcript has the October dividends
of the banks in that city ; the per tentage generally
is much larger than on the previous year. The
average dividends of all the banks is over 3 per ant.,
and the excess in amount, over last April, is over
35,000 dolls.

The advantages of domestic manufactures are dis-
cussed in the southern newspapers. An appeal is
made by the Macon Journal for the establishment of
manufacturing companies in that part of Georgia.
The south has the superiority over the north in
proximity to the raw material ; and the southern
states also possess more agricultural wealth than the
northern, as appears by the following returns from
the census of 1840 :

New England States.
Corn 11,943,000 bush.
Wheat .. 2,898,000 "
Potatoes 20,581,000 "
Rye
Oats 11,247,000 "
Buckwheat 1,097,000

Tennessee and Georgia
83,585,000 bush,
9,911,000 "
3,792,000 "
448,000 "
9,548,000 "

50,343,000 bush. 107,194,000 bush.
In addition to this, Georgia and Tennessee produce
annually about fifteen millions pounds of rice, and
probably three millions of sweet potatoes, none of
which are raised in New England. They also have,
according to the census of 1840, 1,906,851 neat cattle,
and 4,484,362 swine ; whereas the six New England
states have but 1,545,273 neat cattle, and only 748,698
swine.

Thus showing that while these two southern states
have a little over half the population of New England,
they have more than double the capacity to feed them.
In many parts of Georgia and Tennessee, opera-
tives can live for less than one-half of what it would
cost them at Lowell, or any other of the great manu-
facturing cities of New England. The only obstacle
to the advancement of the southern states is their want
of enterprise and the degrading position in which the
labourer, the operative, and the mechanic are placed
in those states. In New England labour is honour-
able. In Tennessee and Georgia the labourer is dis-
franchised, and public opinion looks down upon him.
Here is the secret of the difference between northern
and southern manufacturers.

NEW YORK, SEPT. 29, P.M.

Ashes—There is a moderate business doing owing
to the small receipts. The sales are some 120 barrels.
Pots, at 5 dolls. 50c. to 5 dolls. 561 c., and a small lot
reported at 5 dolls. 52kc. Limited sales of pearls at
7 dolls., at which the market is firm.
Cotton—There is a disposition on the part of the
holders to realize; the market is in favour of the
buyers, with sales of 2,000 bales.
Flour, &c.—The market opened firm, and at rather
better prices, caused by the report of a bad break on

the canal, near Little Falls, which, however, proved
to hi., only ternnor,ry, !'ilt
9' . '

i.i-ene:see new

at 5 doll~ e 1
Michigan, at 5 do!ls. 75e., and SOO barrels old Gcnessee
at 5 dolls. 62c. ; old Ohio and Michigan is selling in
small lots at 5 dolls. 50e. ; fresh ground ditto from old
wheat at 5 dolls. 56e. to 5 dolls. 62e. ; Oswego sold
to the extent of 909 barrels, at 5 dolls. 56c. for fresh
ground, at the close the market was heavy, the lower
rates being accepted. Rye flour is dull at 4 dolls. to
4 dolls. 12c. Corn meal is saleable; it was hard to
obtain good meal below 2 dolls. 75e. at the close. The
sales have been some 2,000 barrels. Ohio and State,
at 2 dolls. 621 e. to 2 dolls. 730. ; Jersey is selling in
small lots at 3 dolls. 12c.; Brandywine is wanted
at 3 dolls. 500. for barrels, and 17 dolls. 50e. to 18
dolls. for puncheons.
Grain-We notice a good demand for new Southern
Wheat, of which there is but litte here; no sales of
any kind transpired to-clay ; buyers hold off for
lower prices. Rye is nominally the same as yes-
terday, but little demand and only limited receipts.
Corn is in active demand ; the sales are limited, be •
cause of the light supply; the report of a break in
the canal rather stiffened the market in the early part
of the day, and sales were made of some 8,000 bushels
mixed at at 66c. to 67c. ; 7,000 do. flat yellow at 68c.
to 69c., together with a lot of 2,500 bushels yellow
at 70c , delivered ; also 3,500 bushels New Orleans,
from store, slightly heated, at 65c. Oats continue
saleable at 51e. to 53c. by the cargo, and 54c. to 55c.,
at retail; the receipts are to a fair extent.
Buckwheat-We notice that new is becoming more
plenty, and commands 2 dolls. 62c. to 2 dolls. 75c. for
1001bs ; in bbls. it brings 5 dolls. to 2 dolls. 25c.
Whisky--The market is very small; only small
sales of State Prison at 29c. ; Ohio at 28c., and
Drudge, in small lots, at 82Ic.
Wool-The demand for good Fleece is large, with
sales of some 20,0001b5. at very full prices. In mixed
and common qualities, there is a fair demand at former
quotations.
Naval Stores-We hear of small sales of Newburn
turpentine at 3 dolls. 50e. ; Spirits turpentine arrive
freely, and some 300 bbls. sold yesterday and to-day
at 50c. a 51c. In rosin there is more doing ; the
sales are some 1,500 bbls. North County changed
hands at 64e. ; some 600 bbls. white were disposed of
at 2 dolls, for No. 1, and 90e. to 1 doll. 50c. for No. 2.
A good demand for Star, with sales of 700 bbls. at
2 dolls. 62c.. Southern and City pitch brings 81c. a
1 doll., in small lots.
Candles-With an active demand, prices are better
for City and New Bedford sperm ; mould tallow are
in demand. and bring 11 c. a 13ic., 4 mos.
Provisions-The market is rather better for mess
pork, with sales of some 400 bbls at 14 dolls. 50e., at
which the market is firm. Prime is in good demand,
with sales of 700 bbls. at 10 dolls. 75c. Lard is
quiet ; we hear of 100 bbls. prime at 10c. a 161 c., but
the market must be reported dull and drooping.
Since 'change we hear of a sale of 500 bbls mess
pork, deliverable in January, at 13 dolls. Butter and
cheese steady, and sales at yesterday's prices.
Freights are inactive and rates nominal.
Receips of produce via Hudson River, Sept. 28-
Flour, 1,500 bbls.; wheat, 9,300 bushels ; rye, 1,200
bushels ; corn, 3,000 bushels.

GRAND DINNER TO SIR ROBERT
PEEL AT LIVERPOOL.
(BY EXPRESS.)
LIVERPOOL, SATURDAY MORNING.
Last night his Worship, the Mayor, entertained a
select party at the Town-hall. The ht uests sat down
at seven o'clock, and among them were :—Lord San-
don, Sir Robert Peel, Mr. Wm. Brown, M.P., Mr.
Cardwell, M.P., Mr. Thornely, M.P., Mr. William
Jackson, M.P., Colonel Falconer, Captain Evans
Captain Bevis, Mr. Rushton, Mr. Bramley Moore:
the Town-clerk, Mr. C. Lawrence, Mr. James Law-
rence, Mr. W. Earle, Mr. H. Earle, Mr. R. Earle,
Mr. Gibson, Mr. Baines, Mr. Cortazzie, Mr. Sands,
Mr. S. Holme, Mr. A. Lace, Mr. Langton, Mr. D.
Campbell, Mr. H. Littledale, Mr. Neilson, Rev. W.
Connybeare, Mr. Grant, Mr. T. B. Horsfall, and
Mr. Nichol.
On the cloth being withdrawn, the usual loyal toasts
were given, and received with applause of more than
wonted intensity.'
The MAYOR then proposed the " Army and Navy,"
coupling with the toast the names of Colonel Faulkner,
to whom his Worship paid a high compliment for in-
defatigable zeal in his military connexion with the
district, and of Captain Bevis, R.N.
Colonel FAULKNER briefly and happily responded,
expressing the pleasure and satisfaction he had derived
in his intercourse in the discharge of his duties with
this municipality.
Captain EVANS, R.N., as the senior post captain,
returned thanks on the part of the navy, and de-
clared that, though peace at present happily pre-
vailed, should occasion require, the "wooden walls
of Old England" would he found as serviceable and
invulnerable as in the fighting days of Nelson and
Collingwood.—(Applause.)
" The Bishop arid Clergy of the Diocese" was then
given, with which his Worship coupled the name of a
respected relative then at the table, and of Mr. Cony-
beare, Principal of the Collegiate Institution.
The Rev. CHARLES LAWRENCE acknowledged the
compliment. Although, he observed, the peculiar
duty which clergymen were called upon to discharge
involved (necessarily attendant upon the spiritual
office) dangers and difficulties, and annoyances of a
trying nature, yet in hig opinion, an occasion like the
present, with its concommitant gratifications, was full
and ample compensation, inasmuch as it brought to
the clergymen the conviction that they were sup-
ported by the opinions of good men, and the appro.
bation of the society for which they laboured.
The MAYOR then gave " The Lord Lieutenant of
the county." He again rose in a few minutes, and
proposed " The health of Lord Sandon, late M.P. for
the Borough." They would all be -delighted, he
said, more especially there, to drink the health of a
nobleman long known to many of them, who, for
sixteen years, in five successive Parliaments, had
honourably and usefully (with honour to him-
self and advantage to his country) represented
this borough. It certainly could not be asserted,
even of Lord Sandon, that in that long period
of time, in every vicissitude of the political world, he
had invariably, and on all occasions, given satisfaction
to the whole body of his constituents, yet no one had
ever attempted to deny that to the majority he had
given satisfaction, and that universally he had won
many times admiration, and always respect. Every
one admitted the Noble Lord's honesty, integrity,
and earnest desire to promote, by every means in his
power, the prosperity of all classes in the commu-
nity; and he therefore called upon them to drink his
health with three times three.—(Loud applause.)
The toast was drunk accordingly.
Lord SANDON rose to respond, and was greeted
heartily on presenting himself. The Noble Lord,
after alluding in a very impressive manner to the
origin of his connexion with Liverpool, and to the
results which had ensued his career as representative
of the town, spoke of the honour which he had always
considered the representation of so important a
town had conferred upon him, expressing an
opinion that the pride with which he had always
accepted the trust must be deemed justifiable
when it was remembered who were the men who
formerly, in more stirring times, had been returned
to Parliament as Members for Liverpool. One of his
predecessors in the office it would be sufficient to say
had been the illustrious Huskisson, and he frankly
confessed, expecting that the merit would be at least
accorded to him of having adopted the best possible
model, that it had always been his aim and ambition
to tread in the footsteps of that very remarkable man.
—(Applause). He responded entirely to all the ob-
servations which had been made by the Mayor. It
was his conviction that England owed still a de.
debt of gratitude to William Huskisson. He had en-
deavoured, wisely and cautiously, at the same time
firmly and fairly, to free commerce from its fetters,
to facilitate the trade of the world, and to render the
interchange of nations as unrestricted as the best in-
terests of humanity demanded. Lord Sandon then en-
tered into a variety of statistics of a very interesting
character, throwing some new light on the immensity
of the progress of the port of Liverpool, since the
date of his first connexion with it, with regard both
to the population and the dock and corporate reve-
nues, demonstrating the flourishing condition of the
commerce flowing into the estuary of the Mersey, and
verifying some observations previously made by the
mayor in respect to the enormous responsibility in-
evitably entailed upon those who accepted the repre-
sentation of the borough of Liverpool. In proportion
to the increase of Liverpool in power and wealth, he
said would there be expected from its representatives
increased diligence and incessant care ; and it was to
him a matter of the most profound satisfaction to be
assured that, generally speaking, his late constituents
had not found him wanting in the due discharge of
the duties he had undertaken to perform.—(Ap-
plause). After some further remarks, the Noble
Lord concluded by returning thanks for the hearty
manner in which his health had been received, and
sat down amid loud applause.
The MAYOR then gave, what might be considered
the toast of the evening, " The health of Sir Robert
Peel," highly eulogising the public conduct of the
Right Hors. Baronet, and acknowledging the services
he had rendered to the British empire during the pe-
riods which he had held office. The toast, he said,
had peculiar interest, not only because of the promi-
nent position of Sir Robert Peel, but because he had
that day kindly consented to be present on raising the
statue of one of the most distinguished of his col-
leagues in a former Administration, to the pedestal
prepared for it in front of the Custom• house. It was,
said the Mayor, exceedingly appropriate that Six E.