The Sun.
London, England, 1841-02-10 00:00:00

PRICE sd.

ONEY MARKET and CITY NEWS

(TUESDAY EVENING.)
TIMES.—A good deal of business was transacted
to-day in the Government securities, and under the
pressure of sales, which created a demand for money,
towards the close of business prices gave way nearly a
quarter per cent. Several reasons are assigned for this
&cline, but the more solid ones appear to be distrust
respecting the result of the pending negotiations be-
tween our Government ar.d the United States, and the
expected introduction of the new French loan into the
Paris market.
If some notices which have appeared in the Cape of
Good Hope newspapers are not impudent forgeries, the
credit of the Government there would appear to be re-
duced to so low an ebb, that debts admitted to be le-
gaily due from it are actually put op for sale by auction.
As a sample of colonial misrule it is calculated to asto-
nish Lord John Russell himself. The following is an
advertisement on the subject from the South African
Commercial Advert;ser
CLAIMS ON TIIE COLONIAL GOVERNMENT.
" For three horses, ordered out and supplied by Frede-
rick ',Weeding, of George-town, for the service of the
Caffre war in 1834, which were duly appraised and certi_
fied by field cornets, amount 151. ; after many applications
at office of Civil Commissioner of George-town for pay-
ment of said claim, answer is, ' No objection whatever to
claim, but no funds; and all the certificates and documents
were sent to Government some years ago.'
" Notice is hereby given, that unless this claim is paid,
together with the interest thereon, before Saturday, the
19th September next, it will be sold, as a bad debt, by
public auction, on the stoep of the Commercial Exchange.
" JOCELYN PERCY INGRAM, Q Q.
" N. B. As there arc upwards of 700/ still unpaid of
these claims to different parties, and which may likewise be
sold at same time, if forwarded, a good speculation is
afforded to influential men, particularly public servants, as
moat of the sufferers wish to settle at Port Natal."

It should be observed, that the merit of drawing pub-
lic attention to this subject belongs to a weekly publi-
cation, called the African Colonizer, which, in a number
published on Saturday, has copied this advertisement,
with somc'appropriate remarks.
The French paper, Le Commerce, in discussing the
projected customs law now before the French Legis-
lature, contains much that is interesting, as showing
how England is regarded by many persons across the
Channel, with respect to the possibility of treating her
as a friend in matters of commerce. Tne writer
would impress on his readers that the English Go•
vernment is one which would not pause to adopt any
measure to create markets for her manufactures, and
that, in whatever part of the world the English
are met, they are found to be enemies rather than
commercial allies. England, he adds, has drawn
upon herself the mistrust not only of France, but
of the ereire Continent, her only aim being to acquire
a manufacturing and commercial monopoly, while the
principle of her customs legislation is to prohibit, di-
rectly or indirectly, all productions which might ema-
nate f, orn herself, and even such as her own territory
will not produce, as, for instance, the wines of France.
As fur England in modern times changing her lan-
guage, and talking of free trade, this Le Commerce
considers a change of words only, not of system, or
at any rate it is a mere change of theory, which has
not been followed by any practical result in the Le-
gislature. England, being the originator of the re-
strictive system, which has been followed by other
nations, ought to set the example in changing this
system, repairing the evils which she herself has
cause:', abolishing prohibitions, and admitting foreign
products by a modification of her tariff, but till then,
it is urged, it will be but prudent for Europe to re-
main in a state of distrust, and also to combine
against English monopoly. While the writer would
thus show to every European nation that it is ex-
pedient to put no confidence in England, he ads
dresses himself especially to the French, reminding
them of the results of the treaty of 1786, by which
they were bound to take English manufactures at a duty
of 10 to 12 per cent. on their value, while England
excluded French silks, only admitted cloths and linen
webs at 50 per cent. on their value, and took their wines
only on condition that they should pay a duty nearly
triple of that levied on the wines of Portugal. Though
the system under that treaty is at an end, the writer
would call to mind that the alterations made within
the last few years in the French customs laws hate
been greatly in favour of England, as, for instance, the
facilities afforded to the transition across the French
territory, and the reduction of duty on coal, iron, lead,
brass, and linen cloths, all of which, he says, have caused
a quantity of products to be imported into Franco double
in value to that imported six months ago. In return
for these concessions England, he says, has granted
nothing. This is to be received, of course, as an argu-
ment against us, put commercially in the strongest and
the most hostile shape possible ; but it represents, pro-
bably, the notions and feelings of a large majority of the
trading classes in France, and army serve to moderate
the expectations of those who are looking for a good and
beneficial commercial treaty between the two countries. ,

CHRONICLE.—The funds have been heavy
throughout the day, and prices arc lower. Disappoint-
ment has been felt that Lord Palmerston's answer on
the subject of APLeed's arrest was not more explicit,
although we cannot, for our part, perceive how more infor-
mation could have Leen looked for pending such grave
negotiations ; but unea.siness will be felt until the pro-
bable issue of the American affair is more accurately
ascertained, and until the fate of the commercial treaty
with France is decided.

Some sales of money stock have also been made to-
day, which added to the depression.
There was very liti le doing, in the Foreign Exchanges,
but the rates were rather etter than last post. Until
the navigation reopens, trade, both external and inland,
must be flat, and we cannot look for any masked im-
provement in the exchanges until the frost has
broken up.

The heaviness in the English Funds keeps down all
descriptions of foreign securities, and Spanish Bonds
have been drooping with the rest ; but the prices at
Madrid and Paris still keep up, the former being at
for the Actives, and the latter 25i, by the last advices.
At the cemmcncement of business the Actives were
quoted here to-day at 24 to i; some few sales, how-
ever, combined with the heaviness of Consols, produced
an unfavourable effect on the Market, which gave way
and closed at 23i to /.
It is stated in the columns of the African Colonizer
that the evidence is in favour of the opinion that coal
exists in large quantities within a moderate distance of
the ports of the South-East Africa, on the Natal and
Mozambique coasts, although the geological formation
of the country seems to throw considerable doubt on
the matter. The heads of the recent plan proposed by
the West India Association are also given in the same
paper, which are in many respects deserving of support.
We may mention the abolition of all distinction of co-
lour, the establishment of branch associations in each
colony to furnish information relative to their agricul-
ture, commerce and statistics, and the bringing about a
general regulation of the currency.

HERALD.—A strong impression has evidently
been produced in the city by Lord Stanley's forcible ex-
position of the actual state of relations with the United
States, so far as evidenced only by the atrocious arrest,
imprisonment, and approaching trial of. Colonel M•Leod,
a British citizen, with his very possible condemnation
and judicial murder, and the effect was not at all dimi-
nished by the more than commonly lame excuses and
admissions of the Foreign Secretary, both in reference
to the refusal of further information and to the indirect
confession of negligence in pursuing those negotiations
which might have averted the present extraordinary di-
lemma, and led to some conclusive settlement upon the
matter more immediately in contention, relating to the
burning the steamer Caroline some three years ago. The
funds were naturally affected by this unsatisfac'ory de-
velopment of affairs, and Consols declined to 88- to
for Money, and for Account to 881 to Business was
more active to .day, but although much was done, yet co
very considerable transactions having the character of
speculations were reported.

POST.—Some gentlemen interested in the Stock of
Buenos Ayres have waited on Senor Moreno, as the
representative of the Republic in this country, in order
to ascertain whether or not, now that the blockade has
been raised, some relief may not, before loeg, be afforded
to the Bondholders. the payment of whose dividends
has been many years suspended. After the conduct
witnessed of some of the other agents of the South
American States, little was expected from the Envoy of
the Argentine Republic ; but, from all we can learn,
the parties alluded to met with the most encouraging
reception. Senor Moreno assured them that the clain s
of the English creditors have never for a moment
es-
caped the attention of his Government, and so satis-
fied was he of something being, at an early p.e-ied,
done for them, that he would regret extremely that
they should be induced, after waiting so long and so
patiently, to part with their securities at the present
heavy discount. The capital of the debt is he p'
900,0001. and 1,000,0001., which was negotiated tivhen
Messrs. Baring, Brothers. and Co., at the high price
of
85 per cent. Of this nominal amount Senor Moreno
admits, in a straightforward, handsome manner, the
proceeds' ivere paid info tits Buenos Ayres Treasury
to the last farthing. 'We mention these facts that
the Buenos Ayres bondholders may not he led astray
by the nominal quotations a
as the Chiiian bondholders ,sttle Stock Exchae.ge,
them, throw their securities been, and, like
Bends, for which the pri,3'"vaeway. The Chilian
made by the English