The Sun.
London, England, 1848-02-14 00:00:00

AMERICAN NEWS.

LIVERPOOL, SUNDAY.
By the Royal Mail steamship Cambria, Captain
Harrison, we have advices from New York to the
29th ult., and Halifax to the Ist inst.
The Cambria has brought 10,0001. in specie on
freight.
The steam-ship Acadia had arrived out.
The Royal Mail steamship Thames arrived at
Ship Bland, New Orleans, on the 13th ult., from
Havannah.
The steamer Yallabusha, with a heavy] cargo of
cotton, bound for New Orleans, was entirelr'de-.
stroyed by fire on the 18th ult., and 40 persons iere
supposed to have perished with her.
•
A great fire, consuming several warehouses, took
place at Havannah on the night of the 13th ult.
A Whig " caucus," held at Washington on the
2lth, had determined to recommend a national con-
vention for the nomination of President and Vice-
President.
Congress is still in „full deliberation upon the
measures MI continuing the war with Mexico. The
Bill asking for the ten new regiments is still in the
Senate. • -

The Treasury would ieiy soon need replenishing.
According to the 'estimates of the Secretary
18,000,000 dolls. would be needed before the 30th of
June next. Accordingly, a Bill has been reported in
the House of Representatives, authorising a loan to
that amount, limiting the interest to 6 per cent. for a
stock having 20 years to run, and which must not be
sold under par.
In Congress on the 20th Mr. Mangum submitted
resolutions calling for the instructions under which
General Scott's " order," No. 379, was issued, and
also his opinion as to the efficiency of his means to
carry the same into effect. The resolutions led to a
sharp debate between Messrs. Mangum, Cass, Crit-
tenden, and Allen. Mr. Mangum stated that he
had two objects in presenting these resolutions.
First, to know the extent of the Executive purpose
on the subject of the conquest of Mexico; secondly,
to ascertain the opinions of the highest military
authority as to the means of carrying out this pur-
pose. He expressed his surprise at the tenderness
of gentlemen on the other side whenever infor-
mation was sought for. Mr. Cass said he was not
tender of the Executive, but of the honour of the
country. He did not wish to enlighten the Mexi-
cans. Desirous as he was to give every information
to Congress, he hoped the President would come out
fully and plainly and say,it was his design to conquer
the whole of Mexico ; but as to holding Mexico, that
was a different question. Mr. Crittenden replied in
a tone of strong sascasm on the subject of the Execu-
tive withholding light from Congress, lest the enemy
should be benefited by it. All that was here asked
for was only information necessary to enable the COMMERCIAL INTELLIGENCE.
Senate to form a correct judgment on matters sub- NEW YORK, JAN. 29.
mitted to it for legislation. The state of the money market has been and continues
The resolution was then modified by Mr. Mangum, to be deranged by the presence and competition of the
so as to leave it discretionary with the President to United States' Government as a borrower. The Tree-
omit any disclosure which in his opinion would be sury notes and past loans have absorbed many millions
detrimental to the public interests, and in this form of capital usually available for commercial wants, and the
it was agreed to. new loan hanging over the market for 13,500,000
operatesn to the disadvantage of business. Money has
The House then proceeded to the consideration of
continuesoi.e very
for scarc.e. The banks, alarmed
the Ten Regiments Bill. Mr. Foote examined the boon
bye th and
drain a the Sub-Treasury-Low, how-
proposition of Mr. Calhoun, and contended that the ever, stopped by the fall of Treasury notes which are
tendency of their policy was to re-nationalise Mexico, available for dues to the Government, and by the foreign
and showed that his (Mr. Calhoun's) predictions, exportation of it, which has been steady, though not
made at the last session of Congress, in regard '.o very large for the last two months-have materially con•
the practicability of taking Vera Cruz and the city of tracted their issues, and are very cautious still in their
Mexico, had not been verified. Mr. Calhoun ex- discounts. There has been no failure, however, of any
plained, and said that in an interview sought by moment, and the soundness of the business community
the Executive he had expressed the opinion, that if has been tested by the severity of the pressure.
Vera Cruz and the Castle of San Juan d'Ulloa were VIOVERNMENT SECURITIES.
attacked and our forces defeated, the inevitable con-
United States' Loan, 6 per Cent. ... 1856 96 961
Ditto, ditto ... ... 1862 97 97
1
sequence must be our withdrawal to a defensive Ditto, ditto ... ... 1867 99 99i
line. Mr. Foote continued-after reviewing Mr. Ditto, 5 per Cont. ... 1853 871 87i
Ditto,
Calhoun's speech he had laid down his own plan, Mexican Indemnity ... 83 84
f.:!
which was to annex Mexico by provinces, and admit •
Treasury notes, 6 per .Int. .. -.
•.. ••• 99i 99f
her to the benefits of the American territorial STATE SECURITIES.
system. He would establish depots at the principal New York, 7 per Cent. ... ... 1848
points, introduce the American import and export Ditto ditto ... ... ... 1849
system, the land-office system, general education, Ditto 6 per Cent. ... ... 1854
and trial by jury. He looked forward to a long Ditto ditto ... ... ... 18E0
series of years of prosperity if they adopted this Ditto ditto ... ... ... 1861
course. He trusted that supplies would be voted, Ditto dittoditto - ... ... 1862
for, if they did nut avail themselves of their present 11)iittto to 5} per Cent. ::•. ::: 1867
1860
power to subdue Mexico, but were content with a Ditto ditto ... . 1861
defensive line, they might ultimately find themselves Ditto ditto „. :1: . 1865
engaged in a double war, with Alexico and Great Ditto 5 Fer Cent .., •,:. 1850
Britain. Mr. Thompson, of Indiana, insisted that Ditto ditto ... ... ... 1851
the Nueces, and not the Rio Grande, was the true Ditto ditto ...
..,
... 1855
line of boundary between the United States and ...
...
1185586
Mexico. He asserted that General Taylor hadlB6o
never advised the march of the army to the Rio Ditto 41 ditto ...
Ohio 7 per Cent. „„ ...
...
1851 1849
...
...
Grande, except hypothetically. The President was DDiitutoo
dittoditto ......
...
...
determined to make war, and had deceived the peo- Ditto 6 pedritCtoent. ...
...
plc. He had given General Taylor orders to march Ditittoo -
ditto •••
„• 1850
1856
- ***
1860
the army beyond the Nueces ten days before he knew Ditto 5 per Cent. ::: ' ... 1850
of Slidell's rejection by the Mexican Government ; Kentucky 6 per Cent. -
and the President knew that Mr. Slidell would be Ditto 5 per Cent. ... - -
rejected before he sent him to Mexico. Mr. Thomp- Illinois Fundable Bonds -•
son was eloquent and severe in his denunciations of Indiana Bonds ..,
the
close Government,of the p r
present
tMyre.
ar Rhettthis
nfollowed,rrea
r w andoul replieddbei i
in-
DittoBo o
barrels
atar tree
Is Fives
i,
to the constitutional argument that had been brought Arkansas 6 per Cent.
forward as to the distinction between the war-snaking Alabama 5_
tpeeriiiCent, .
and war-declaring power of the Government. Con- Ditto S
Pennsylvania Cent.snpger
gress could only declare war, whereas the waging of
war could only be by the action of the Executive. Maryland 6 per Cent. .
On the 24th Mr. Baldwin's resolutions, calling on 'Tennessee 6 per Cent.
the President for information as to the existence of Ditto 5 per Cent. ... :: •••
any public domain in Mexico, and the power of the rNew York Ditto 7 per Cent:: 185.7*
Dittonn -6
per
Mexican Government to cede any portion of the same 16 1 Ditto 7 per Cent.... 1858
to a foreign Government, were taken up. Mr. c Ditto 5 per Cent.... 1850
Hannegan requested explanation as to the object of *CI Ditto Water Loan, ditto ... 1858
Ditto ditto
the resolutions. Mr. Baldwin explained, that the " ... ... 1870
Brooklyn 6 per Cent. 1855-57-58
President having informed Congress, in his annual
message, that the republic of Mexico had no other isXCHANGEW.
Exchan es on Londo 1091 1101
means of indemnifying the United States than by the Ditto on Paris a ••• - •••
cession of her territory, the object of the resolutions Ditto on Amsterdam ''• ••• ••• 5.27 i 5.25
- ... ... ... 40 401
was to ascertain the grounds on which the President Ditto on Hamburgh
.. ... 351 36 L
founded the expectation of obtaining Mexican terri- Ditto on Bremen . ::: :
... 781 78i
tory as indemnity. There continues a steady, and for the season, a pretty
Mr. Hannegan maintained, that as Mexico was active business going forward in the various descriptions
generally,. except perhaps for flour and grain, are
not a republic, but nothing more nor less than an of foreign and domestic merchandise, and the markets
anarchy, the United States had a right to take by
the spring trade, which has ready
cession any portion of her territory. Whether
hvae:reybeeeenvy.made at 8 dolls. 87
Mexico had the power to cede was not the question
iroe
rhpcoeounosltes . reonhtinue large, and the business
The arrival of English and
for them, but her, to decide. As to their own prac • l openedr
n c ti buoyant,
do
rmy some view
goods,
extent,o f e
tire, they had asserted that the disputed north-eastern
A cargo of Newcastle cents.
boundary boundary belonged to them. Yet they ceded away a
part. The Executive had decided that the whole of tons Sidney have been disposed
of on terms uot made
Oregon was theirs, and yet they had given up two- public.
thirds. Coffee-Rio coffee has been in good demand, and
attoStS7de3Coloulsfs.tL°
The Senate then proceeded to the consideration of 8,000 bags have been sold at eic. to 7c. ; principally at
50 Maracaibo Sc. 1
the Army Bill. Mr. Clark spoke in opposition to the 6ic. ; 800 bags Java tic. to 91e. ;
Bill, and denounced the origin and progress of the 500 Sumatra, 631 c. to 7c., four to six months ; 337
war. He calculated that by the passage of this Billterms, and 300 bags St. Do-
themarket for the last three
mingo at 51 c. to 6c. cash.
bags African
Cotton-We
onh
aye private
had
a d
a dun
army in Mexico would be increased to 95,000 men.
He wished to know how this force was to be em-
prices In the earl
ployed, and in what manner the Committee of Ways
tof the week a slight reduction Nos submitted ••
bales,s submitted to. The
and Means proposed they should be provided for. He salesrof the week amount to 6,050
believed that if the Bills now before the Senate were Fl„urmarket remains in
days, but without any change in
-The
passed, they would require a loan of 40,000,000 of holders only selling as their necessities require. Shippers
week, mostly on Saturday and
dollars far the present war, which could not be nego- appear unwilling to ship after the Ist of February, and
tiated on better terms than 90 cents on the dollar. the article is, of course, saleable only for the city trade
The abstraction of so large an amount of specie from in a small way ; probably about 25,000 barrels, how-
circulation would cause an alarming increase in the ever, sold during the
n and New York
ydolls. ; Oswego and
price of breadstuffs, and fall heavily on the labouring
population of the States. He also objected to the
annexation of Mexico, or to the destruction of her 5.
CMiotyndaAyi,illsfortheexpporircte.
dolls.hFao!rbße;oco6kl
, , ut_o Closing at 6 dolls. ;
common Genessee,
pure Genesee sells, principally for home use at 6 dolls,
nationality, which were the only objects for which the
12ic. to 6 dolls. 52c. ; 1,000 barrels Western deliver-
war could be prosecuted any longer, able in May next, brought 5 dolls. 50c. ; about 4,000
On the 27th the Ten Regiments Bill was again barrels New Orleans, mostly Ohio brands, have been
taken up. Mr. Phelps, having " the floor," went selling to the trade in lots, at 5 dolls. 75c. to 6 dolls. for
into a calculation to show the effect of the war upon common, and 6 dolls. 50c. to 6 dolli. 62}c. for fancy ;
the financial and commercial affairs of telie country. Southern lie in more request, and sells at 6 dolls. 25e. to
He estimated that up to the Ist of July last the 6 dolls. 37fe. for Alexandria, Petersburg, Georgetown,
Treasury' had fallen into arrears from the coin- and Baltimore; 3,000 to 4,000 barrels City Mills, part
mencement of the war 68,000,000 dolls. At the, etPr
creased to not less than 80,000,000 dolls, He then
examined the estimates of the Secretary of the the army, has been sold lately
d 0115.7,000 on private terms;
ow.a.id Street., andr ll'etersburg Mountain
ebeeonemosreelsd
of oieg
at 4 dolls. 25e. to
in corn meal,
barrels,_ 1,000 barrels of
Treasury for fpture revenues, all of which were too and
Which sales t.w.s
were
arc reported .
at 3 d
re of Brandywine, dulls, 181 c., and the
high. Having_ made deductions from each item in remainder Jersey, at 3 dolls. 1210, to 3 dolls. 25c. ;
the Secretary's calculations, and having shown how 1,000 barrels for March, delivery at 3 dolls. 25c., and
the estimates of expenditure for the next two years 1,000 barrels for April, at 3 dolls. 12le.
' might be expected to f'all below the actual Grain-There is a moderate inquiry for wheat for
amounts required, be concluded that the' Seere- milling here, and sales of 3,000 bushels Long and Staten
tary had over-estimated- the receipts for the Island have been made at 125 c. to 128 c., and 1,600
next year about 17,00'6,000 dolls., and under- bushels inferior Georgia at 112fc. to go east. Sales
rated the expenditure 22,000,000 dolls.. lie did not have also been made of 5,000 to 6,00 i) bushels of Ge-
believe that the money asked for could be obtained nesee at 135 c. Rye sells for
distilling
at 88c. to 90c.
Oats are dull and have declined, 46e. to 49c. canal and
by loan or Treasury notes. The amount of specie
river, and 49c to 43c. for Jersey. 2
000 bushel barley
now in the New York banks did not exceed 5,000,000 deliverable -on, the opening of the '
canal, have changeds
dolls. The Boston banks held about 4,000,000 ,lolls. hands at 80c.; 2,500 bushels prime have been soldatabout
and the Baltimore banks 2,000,000 dolls, It ,vonld 83c. to 850.; it is held at 90c. for a good article -
be impossible for Government to find 20,000,000 Corn continues in fair demand, without much varia,-
dolls. in specie, and nothing else would be received tion in prices ; there pia, some transactions for export,
for the proposed loan. The very large investments probably 20,000 to 30,000 bushels, within the last week
recently made in Government stock, railroads, and at 68c. for white and yellow Jersey new for immediate
manufactories, had absorbed most of the active shipment. The sales of tho week reach near 100,000
capital of the country. The money-market was iID2.. bushels of all kinds, at 65c. to 70c. for inferior to good
usually stringent, and specie was leaving' the old mixe401.1246.,?. to 661wz cpr.iiew eoutlierik fair, and

General Scott had issued an order, assessing upon
the.states of Mexico occupied by the United States'
troops an annual tax amounting to about 3,000,000
dollars.

General Scott has been suspended. A court of
inquiry has been ordered for the purpose of investi-
gating the recent difficulties in the army.
A train, under the command of Colonel Miles, had
been attacked and plundered by a. guerilla party.
The loss of goods falls principally on the merchants,
one English house losing 54,000 dollars. The French
and Spanish merchants recovered their goods by pay-
ing smartly. The portion of the train cut off had
incautiously lagged behind. Colonel Miles could not
wait for them to come up, but left a guard of 25 men
behind, which was totally inadequate against the sud-
den onset of 400 guerilleros.
From Canada we learn that the elections had taken
place, and that the Radical party had gained the
majority. In the city of Montreal formidable riots
had taken place, and the mob held possession of the
place for two days.

9i 100
100 100 i
1001 101 i
101 102
101-1 102
104 102
101 k 104
961 97
96 97
96. 97
97 98
96 97
94 94i
941 941
94i 941
95 97
101} 104
95i 96
9.5 i 96
96 964
881 89
•.• 95} 96
... 76 80
40 41
34i 36
80i 50/
25 35

... 60 62

... 71 71
... ••• ... 79 81

... 85s 85i
97 100
83 85
104 107
102 103
90 92
89} 90
89 90
98 99