The Sun.
London, England, 1840-06-06 00:00:00

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MONE Z MARKET and CITY NE WS. 1

FRIDAY EVENING,)
TIME S.—The Bank of England is said to have sold
altogether City bends to the amount of 400,0001. in the
course of realizing thetr securities.- Of the money ad-
vanced to the corporation of London, which amounted
originally to 1,000,0001., and was secured by a single bond,
the city have paid off 400,0001. The remainder, at the
request of the Bank, and to suit the convenience of private
purchasers, has been divided into.6oo bonds of 1,000/.
each, and, consequerly.if the above Statement be correct,
there would remain 200,0001. undisposed of in the hands
of the Bank. They are also under: ood to have sold bonds
of the St. iiatharinc's Dock Company, which are sup-
posed to have been deposited with them so far back as the
stoppage of the three great American houses.
Money has been in some demand to-day, aril the intel-
ligence of the hostile proceedings in China caused an un-
easy feeling in the English Stock-market. Hence Con-
sols have declined it, and left off 91a to A. Exchequer_
bills shared in the decline, and are quoted 245. to 69. prem.
With respect to the. creation of new bonds by the
Spanish Government, which .has recently been voted by
the Chamber of Deputies, the Committee of the Stock
Exchange intend to carry out with the utmost strictness
their regulation against the' negotiation of , new bonds
issued by any State, until some settlement be come to
with the holders of former securities, and, as no less firm-
ness will be shown in Paris, it may be supposed that these
new hoods, if issued, will scarcely find a market, and hence
not materially affect the very questionable value of the
present Spanish Stock. The prospect has, however,
created an apprehension in the speculators for these Se-
curities, which is not counterbalanced by the fall of Ca-
brera's stronghold, Morella. The Actives have been to-
day as low as 26:11, and closed at about 27. Portuguese
remain stationary, the Five per Cents. being quoted at
35} to it also Dutch, the Two and a Half per Cents.
being 54i to I. Business has not been transacted to any
great extent.

ST,--Some considerable sales of heavy stoc
efTecteqduring the morning, the produce of which was re-
invost :d in City Bonds, the inducement for these opera-
tions being, as we have already explained, the higher rate
of interest payable upon the latter,

SUN.---In a notice from Mr. Waghorn that gentle-
man states that it is quite uncertain wiletu,r an express
will reach him with dates of the 30th April, but he cal-
culated on having one with the accounts of the 30th
May. This gentleman has also notified that no steamer
had arrived off the port of Marseilles up to sunset of
the 30th May.
The overland mails are expected in the City some-
where about Monday or Tuesday next.
The Foreign Exchanges this afternoon were without
alterat:,e„ Bilks on Paris were taken at 25f. 521 c. to
55c., on Amsteirekm at 12 11 and on Hamburgh at
13 9 to.
Them have' been :some large sales of Stock to-day in
the Eng:ishre.,r4sit, tOc proceeds at which are intended,
it is said, for luv,.sNiwn; in City Bonds. Re-
duced Three pe. C-els. reendcu from to 91,1,-, awl
the Thrie-and-a-Halt per Cents. trum 160 to 991
For ti )penin.:;• Consols were quoted 91; to 91i, be,og
sh lower than yesterday, 'While the imm.diate
wants a some parties led to saves in Exchequer Bills,
and caused a decline in their ..;alue from 28s. to 245.
premium. East India Bonds fell from 4s. to Is. pre-
mium, and Bank Stock ranrg.l from 177 to 176,4.
The Foreign Stocks continue heavy, and business in
them is conducted on a very limited scale. Spanish
Bonds elosdd a trifle nigher this afternoon than they
opened in the morning, viz., 26k for Money, and 27
for Time. All t'ne South American Stocks were a
shade lower, Colombian being marked 251 *, Mexican
314, and Brazilian 764 1. Dutch Two-and-a-Half per
Cents- were at 54i to 1. In Portuguese Old Bonds a
bargain was effected at 69, and in the Three per Cents.
at 24.
A slight improvement in the quotations led to more
disposition to do basiness among the holders of Rail-
way Shares, and this bad the effect of neutralising the
advance, so that the prices realized this afternoon were
not quite so good as those obtained in the morning.
The Great Western Shares were 33 to 39-, New
15} ; the Birmingham 89 ; the New 27; the North Mid-
land 3i to 1, the,New 111 to 10 ; and South Western
14i premium. The Croydon Trunk were 2, the
Brighton 5 to si, and the Eastern Counties 8,4 dis-
count. British North American Bank Shares were at
discount, Union Bank of London at and London
Joint Stock at 3i premium.

SPIRIT of the PUBLIC JOURNALS

FROM THE MORNING PAPERS OF TIIIS DAY.

(From the Morning Chronicle.)
Some of the Tory organs are merciful enough not to
insist upon the impositions just now of additional fiscal
burdens upon the Irish ;people. It is truly kind not at
one and the same moment to impose taxes and destroy
franchises. Lord Stanley's schemes for Ireland want no-
thing but a simultaneous increase of taxation to make
them perfect. Wait until his Lordship is Tory Chancel-
lor of the Exchequer, and then we shall see the plenitude
of his benefiJence and wisdom. The Tories act upon the
.
piciple of the old saying, " one thing at a time." Dis-
franc. 'Tement is the business in hand at present. That
affair q, Ispatched, the Tory statesmen will turn their at-
tention tk.' other plans of philanthropy, and probably pro-
pose augrat silted burthens as an infallible prescription for
making Irela. nd affluent and easy. If to disfranchise is to
reform, we do. not see how to tax should not be to enrich.
The begu ideal o.
f public happiness, according to the con-
stitutional doctrine. 9 of the Tories, is taxation without re-
presentation, so that only half the work will be done when
the Irish people have been stripped of the elective franchise,

(From the Times.)
If we sought to call down the most signal retribution on
-the bad faith manifested by the French occupation of
Algiers, we could hardly conceive a more dismal series of
occurrences than the history of that occupation affords.
An enormous waste of treasure and of blood—a series
of governors who have exhibited the rapacity of Roman
proconsuls, without any of the stability or dignity of the
Roman administration—the complete failure of all at-
tempts to realize the anticipated agricultural profits
of the country—the anneal systematic butchery of
thsousands of the natives in those. military promenades,
which arc attended with no other earthly result than
death :o the Africans and the army, and diversion
to the 1,:-inces and the populace—the army itself
ha hit to a state of ferocity and licentiousness
uto Ems'
nknownyught b
p,ean troops—the forced continuance of a
s stem of olic t
no Frei:ch statesman has either the
folly to justi p
fy or y
th,' tiourage to abandon—the consequent
Government, whenever its strength
weakness of the Erenct,'
direction, whether to support its
is required in some other.
—and, '.a the disas-
allies or to overawe its opponOts,
trous operations of the war itsell--exhibit one of the most
deplorable instances of misapplied eaergy which we can
remember to have read of. The reports which have now
reached the French capital from the army, and from Mar-
shal Vallee himself, have been received there with cries of
exasperation and censure from all parties. An army of
11,009 !:ten has been exposed for n6arly a month to all the
hardships of savage warfare.
_ - (From the Morning Post.)
It is not very easy to make out from the speeches in the
House o Commons what the views of the Government
are with respect, ;t$ -labour in the West Indies. The Go-
vernme& stems to bc, as usual. anxious for a sort of
shuffle, as to avid an cviric.mtiy sensical policy of
hindering labooiers front eing wH• :•.-/nted,
and to avoid at same time giv to a ime-

dispieasur

:Len it i[..•) th,zir

tic.set of people, w:ac., c;oeto to have
heads that the interests of hual.inity are concerned in
cessatif,• of lab :or; and the conseqoent sterility of eertair,
augar..fr3lNAring p.tri.s of t:l3. world. We never rtsd any-
thing m..re like :insanity than the furious tirades of this
class of Legislators. First, they obtain .an abolition of
compnlisory;labour iu n region where, from thc...jasture of
the. elisesesst-weis-skes-rarrsr7 of i.ll.tainuiglife without
wages, it must always be a matter of difficulty to obtain
veimitary labour unless at a very high price. We are not
advocates for slavery, and we should have been very glad
if some gradual plan of abolition had been carried, which
would have accustomed the slave to a consideration of the
Indite of labour to himself, while the prospect of freedom
was still before him.
(From the Morning Herald.)
The discussion in the House of Commons, in reference
to the Hill Coolies, was one of very considerable import..
ante. The scheme of Ministers cannot be too closely
watched. Its real tendency—(whatever its object)—is
the revival in the East Indies of that system of slavery,
for the extinction of which, in the west, the English com-
munity has paid twenty millions of money. The truth,
as we think, on this question, was proclaimed in the
House, by Dr. Lushingtoa and by Mr. O'Connell. Sorry
are we, that on the occasion truth found no more reputa-
ble champions. Labourers, we are assured, are wanted in
the Mauritius. Lord John Russell, indeed, declared, that
" very great mischief must ensue to all property inth?,
Mauritius, if an importation of labourers did not take pace.
The fact may be as stated by Lord John Russell ; but we
scarcely like the spirit in which the remark is conceived.
Labourers are required to leave England, because they
stand in the way of some of the uses of property. Labou-
rers are required to go to the Mauritius, because the
necessities of property require their presence. In both
,cases, the right of the labourer is regarded as subordinate
the right of the owners of property.