The Sun.
London, England, 1841-03-27 00:00:00

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PRICE sd•

not of such a nature as to conciliate the' favour o
the majority of novel readers. The period of
which it treats is far too remote.

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF THIS DAY.

CHRONICLE—The favourable impression which the news
brought ty the Patrek Henry produced yesterday on the
funds has been well sustained to-day, and the complete change
of tone assumed by the Tory portion of the London press,
in their remarks this morning, has added to the general con-
fidence in the maintenance of peace with America. There
is a general feeling of satisfaction entertained in the City
in consequence of the pacific character of the news now
received, both from the United States and Paris. The anx-
iety and gloom which hung over the Money Market during
the last year are beginning to disappear, and a brighter pros-
pect to show itself. We trust, also, to receive better accounts
soon from the home manufacturing districts, where the unsettled
state of our relations with America had produced a serious de-
pression, and many of the great mill owners were understood
to have had recourse to short time. As their apprehensions of
war must be very mneh removed, confidence will consequently
revive, and activity again spring up in the execution of orders
for the United States. At the same time we cannot look for
a very great revival in our American trade until the currency
and banking concerns of the Union are placed upon a more
satisfactory footing. The various States, too, must be made to
feel the necessity of proceeding vigorously in the work of
maintaining their public credit, by bringing forward measures to
ralie the means necessary by local taxation. Unless steps of
this kind are adopted wherever there is a deficiency, and all
intentions of repudiating State loans clearly and unambigu-
ously disclaimed by the state legislatures, it will be useless for
the citizens of America to suppose that their national faith can
he respected, and the classical allusions of the new President,
in his Inaugural Address, to the virtues of the ancient repub-
lics of Greece and Rome will only excite derision.

TIMES.—With money in an easy state, the Government
securities have been tolerably firm, and the bargains were in
amount of more than ordinary character.
In the circles more immediately connected with the shipping
interest the late conviction of the Wallaces, at the Central
Criminal sittings, for fraudulent insurances, has created a good
deal of anxiety, which has been much increased by rumours
current to-day that a vessel which left England in the autumn
of last year was sent out under similar circumstances to those
adduced at those trials, and would probably meet the same
fa

e. It is not prudent at present to advert to these circum-
stances more in detail, but the eagerness evinced among the
shipping interest for the exposure and punishment of such
nefarious transactions is extreme, and highly creditable to
them, though they need not fear any general imputations from
such a cause, a remark which has been more than once hazarded.
The character of the mercantile marine of England stands far
too high to be affected by two or three isolated cases.
The degree in which the colonies produce the staple articles
of our home manufactures is always a matter of interesting in-
quiry. In this view attention may be usefully directed to pri-
vate letters recently received from Graham's Town, Cape of
Good Hope, by which it appears that the sheep farmers of the
eastern province of the Cape, 600 miles from Cape Town, are
making great progress both in the number of their flocks and
in the quality of their wool, though they have been much per-
plexed as to what kind they ought to produce, in consequence
of the London market showing a great predilection in favour
of .common wools. The forward flocks are for the most part
Saxon, but many of these are being crossed with the Leicester
breed, which, although it seems likely to cause a decline in the
quality of the wool, is not regarded as a proceeding likely to be
altogether unprofitable.

POST.—A considerable business was done in the public
securities to-day, and it was business of a more solid and bona
fide description than usual, the transactions being confined al-
mostentirely to our home stocks and for money.
London and Westminster Bank were done at 21 to 28 prem.,
and there was a demand for Commercial Bank of London
shares at an improved quotation, but none were to be met with
at the rates offered. Since the failure of Messrs. Wright and
Co., of Covent-garden, several attempts have, we understand,
been made to form a Roman Catholic private banking establish-
ment, but which, from various causes, have proved unsuccessful.
It appears, however, that an arrangement has been concluded
with the Commercial Bank for the opening of a branch in
the West-end of the town, which is to have the support of
that powerful connection. The banking premises re-
cently occupied by Messrs. Wright and Company, in
Henrietta-street, have been purchased from the assignees of
the late firm by the Directors of the Commercial Bank where
it is intended to commence operations immediately. Several
leading gentlemen have been induced to join the Beard of the
latter, and, so great is the interest felt in the success of the
undertaking, that a wealthy and highly influential Catholic
nobleman has been named to us as having consented to become
one of the trustees. The Commercial Bank has the advantage of
being under the guidance of the most experienced and respect-
able managers that could probably have been secured for it,
and it is in consequence of the additional scope that will now
be afforded for their exertions in behalf of the proprietary, and
the increased strength it has acquired through the accession of
the parties to whom we have alluded, that the shares have been
somewhat eagerly sought for by the dealers in this class of in-
vestments.
Two of our Evening Contemporaries— The Sun mid Courier
—give a sort of contradiction to what we have stated respect-
ing the sale by the British and American Steam Navigation
Company of their steamers British Queen and President to
the Belgian Government ; but they will, we have little doubt,
discover, before long, that they have in so doing run a risk it
was not altogether prudent to run without the most authentic
information, and this we are very sure they cannot have ob-
tained. Applications were made to-day to the agents on the
subject of tonnage by the President for her next voyage
to New York, but the answer was, that no engagement
could, for the present, be entered into, with regard either
to goods or passengers, there being some uncertainty about
the time of the President's departure. That vessel
may, for aught we know to the contrary, undertake
another passage out and home in the service of the
Company. We do not pretend to be informed upon the parti-
cular point. She has yet to be " proved," as the British
Queen had been, before the contract with the Belgian Govern-
ment can be deemed conclusive ; but we are, nevertheless, dis-
posed to believe that, with her voyage to Liverpool, now on the
eve of its termination, the connection will cease between that
beautiful vessel and her English owners. Antwerp seems
more likely to be her destination the ensuing trip. Consider-
ing that the President had been advertised again to' leave
Liverpool for New York on the 10th of next month, and that
we are within fifteen days of the time, it is surely strange that
the agents should reject freight and passengers, if it be intended
that the two vessels shall continue running on account of the
Company as heretofore, and this on the plea that there is a
doubt about the day of sailing.

HERALD.—The business activity in the home stocks to-
day showed something like a return to old times, and although
no special rise in prices has to be noted, the general aspect of
the market was of a more stable and satisfactory character than
usually results on the occurrence of some strong and unexpec-
ted turn of prices one way or the other, which is generally
succeeded by a proportionate state of depression or reaction.

SUN.—The funds were improving again on the
strength of the favourable accounts by the Patrick Henry.
Consols for immediate tfansfer realised 88. to 88i,
leaving off at 881 to 88i, and for the April ac-
count 881- to 89, the closing value being the highest.
Exchequer Bills were a shade better, viz. ss. to
75. premium ; and the New Three-and-a- Hal Fier Cents.
rose to 97* and 97k. There was a larger bona fide busi-
ness doing to-day than for many weeks past.
The Foreign Bonds were dealt in to a greater extent,
and were also more buoyant. The Activo Spanish Bonds
to-day have been marked 23i to 23k, the Portuguese New
Five per Cent. Stock has improved to 32i, but we only
heard of one bargain at this leap from 31ii and 311, which
were the previous quotations ; the Three per Cents. acre
at a rally to 19 and 194 ; Mexican Five per Cents. were
steady at 30, Chi Han at 63i to 62, Buenos Ayres at 23,
and Brazilian at 711 to 711 ; French Thice per Cents. et
77f. 25c., and Dutch Five per Cents. at 99g. In the
Foreign Market generally there was more business done,
and the cause of the rise in Portuguese was said to be some
favourable information received. _

The Railway Shares were brisk. Great Western were
24i to 25i ; the New 1 lk to 12k ; the Fifths 51 to 6k ; the
Birmingham and London 61 ; the Thirds 19+ ; the New
21; the South Western 16a; and the York and North
Midland 29i premium. The Brighton were 5i ; the
North Midland 27 ; and the Edinburgh and Glasgow bk-
discount. British North American Bank Shares were 5
discount.
The Foreign Exchanges were firm this afternoon, the
rates being these :—Paris 25, 62 to 67i ; Amsterdam
12 3+; Antwerp 12, 21, 3 ; Hamburgh 13, Bi-, 9; Frank-
fort 150 ; and Trieste 10 Itolo 2. The rate on London
comes over higher from Hamburgh, viz., 13 31.

POLITICAL SUMMARY OF THE
MORNING JOURNALS.

The Times of this morning, speaking of the Poor-law
Commissioners, with reference to last night's debate in the
Commons on the subject, says—" The country by this time
thoroughly understands the Commissioners anti their system ;
and even amongst those who, by a strange inconsistency, voted
last night against the limitation of their powers, individuals
were not wanting who denounced in the strangest terms their
arrogance of tone, their unchristian and uncharitable princi-
ples, their cruel dietaries, their harsh, oppres.ive, and imprac-
ticable rules."—The Morning Chronicle remarks, in allusion
to the new Poor-law Bill :—" The Poor-law stalking-horse
has failed the Tories. The revision of the Bill has un-
masked their hollow pretensions. In whatever mitiga-
tions could he effected, the lead has been taken by
their opponents. The Standard has lustily cried shame
on the Conservatives, although the Standard never
worked the unpopularity of the law as an instrument of
public delusion like the Times. Sir Robert Peel's unmeaning
proposition of five years instead of ten—a term too short for
settled authority, and too long for experiment and the prospect
of further revision, is all that Toryism, as a pasty, has dune on
this occasion. And so that weapon also has fallen from their
hands. They have lost their only hold upon the multitude."—
The Morning Post observes, in a leading article suggested by
some recent Conservative pamphlets:—" The Ministerial fac-
tion regard Sir Robert I'eel, and not without reason, as the
most formidable of their opponents. But they do not act
wisely in getting up sham pamphlets in the name of.' "an
servative Members," for the purpose of creating,_.
not
impression that the great Conservative statesman
.07,
the
enjoy the unqualified confidence of the
State, of which he is the recognised leader.
Such .to them
ayks indi-
cate too plainly that the party which descends
powerful
resort to
state of its
is on its last legs, and is conscious of the desperate,su
ms. As
affairs. The folly of such self-exposure
the
luesti
ut
to honesty, that, of course, is quite out of
qon ,
surely the Whig-Radicals might have been expected to retain
so much self-possession and cunning in their downfal as not to
proclaim to all the world the excess of terror and
of hatred
with which they regard the leader of the ihalanx
that has overwhelmed and crushed them. "—The Morn-
ing Herald thus expresses itself on the subject of the
doctrines of Puseyism That such opinions must quickly
plunge men either. into Popery or infidelity, is too plain to re-
quire any demonstration ; and that some loud, decisive, and
unanimous declaration of the whole Bench of Bishops should
take place respecting
such anti-Protestant, ay, such anti-
Christian, speculation, is also a matter which must occur to
' men of ordinary understandings. The heads of houses at
Ox-
ford will not discharge their duty, unless they immediately dis-
c claim their sanction to any such monstrous perversions of faith