The Sun.
London, England, 1846-06-29 00:00:00

StiInEWSZSURY, SIRIVIYI6TGSAM, ETC.

SELFE—I appear on behalf of certain parties against
the Birmingham, Wolverhampton, and Dudley, and I have
only to express a hope that whatever arrangement may be
come to by these companies, the Committee will not prevent
my clients from opposing the preamble or any of it, that is to
say provided we come to no arrangement with the promoters.
The Hon. CIIAIIIKAN said that he did not know what
parties the proposed arrangement would include, but, of
course, if Mr. Selfe's clients were not parties to it they would
have a full Opportunity of opposing the Bill in question.
Mr. SELFE—We are no parties to any arrangement.
Ours is a landowner's case.
The Hon. CHAIRMAN—Why you should not join in these
compromises that are to be made I cannot see.
1111'. SEEFE—We have tendered a clause to them, but com-
panies have been indifferent to it. I only mean by my
application to obtain a promise from the Committee that no
arrangements which these companies may come to shall de-
prive independent landowners of their right of opposing
the Bilis.
The Hod. CHAIRMAN—CIearIy not.
Mr. LANof then said, that as the Shrewsbury and Staf-
fordshire Bill had been disposed of, he had the satisfaction
of stating that his clients had resolved to abandon their
claims to a small portion of their line between Chester and
Wolverhampton.
Mr. HOPE, in reply to the Hon. Chairman, said that he
had been informed (and he believed correctly) by the Par •
liarnentary agents, that no railway Bill could pass the House
of Lords this session unless it was introduced into that House
on the 19th July.
The CHAIRMAN—If they put 16 Bills before us, it is not
likely that we should be able to decide upon all of them
by that time.

The Committea then• adjourned until twelve o'clock to-
morrow.

GRAND REVIEW IN HYDE PARK
(THIS DAY.)
This day, according to announcement from the Horse
Guards, a grand inspection or review of the following troops
took place in Hyde Park, viz. :—The Ist regiment of Life
Guards, the let and 2d battalion of Grenadier Guards, the
Ist battalion of Coldstream Guards, and the Ist battalion of
Fusilier Guards, and some of the infantry of flank companies.
His G ace the Duke of Wellington, attended by a numer-
ous staff of distinguished officers, arrived upon the ground
shortly after eleven o'clock.
A few seconds had scarcely elapsed ere his Highness
Ibrahim Pacha made his appearance, accompanied by Sami
C )1. Beaufort, H. Nubar, and other distinguished fo-
reignere. They were received with the usual honours.
The Pacha on this occasion rode his Arabian charger, re-
cently brought from Paris, and which was erroneously stated
to have been sent by Mehemet Ali as a present to her
Majesty.
The line was commanded by Major-General the Hon. E.
Lygon, C. 8., Colonel of the 13th Light Dragoons; and the
Foot bi' Colonel Berkeley Drummond. The Household Bri-
gade of Cavalry was under the command of the Hon. Colonel
Cavendish, of the Ist Life Guards.
The ground was kept -by a portion of the 7th Regiment of
Hussars from Hounslow.

RAMSGATE.
(ntem A CORRESPONDENT.)
Juss 27.—Shortly after ten o'clock this morning the in-
habitants of Ramsgate and its vicinity were much surprised
by the report of cannon, and in a few minutes crowds were
pouring down to the pier to ascertain the cause, which was
soon explained and quickly communicated to the town in
general. The salute was in honour of another royal visitor,
the Prince of Leiningen, who had selected this port for his
disembarkation from Ostend. The Prince was accompanied
only by his valet and courier, and on landing walked, un-
attended, to the Royal Albion Hotel, where be remained up-
wards of two hours, and then proceeded to the railway ter-
minus. On alighting from his carriage he was received by
Mr. Eberly, the superintendent of the line, and Mr. Coxhead,
the superintendent of the Ramsgate station, with whom he
remained in conversation nearly half an hour, and to whom
he was pleased to express his entire satisfaction of the ar-
rangements that were made for the convenience of travellers.
One inquiry he was particularly anxious about, which was
this—" Are you sure steam-vessels can enter Ramsgate Har-
bour at all times of the tide 2" The answer, Yes, at all times,"
pleased him so much that, in reply, he said he should per-
suade his mother, the Duchess of Kent, to make Ramsgate
her port for embarking when going abroad. His Highness
left by the half-past twelve o'clock train, for London, where
he was expected to arrive by five o'clock, preferring the
slow train to a special one.
JUNE 28 —The Princess Mary, steamer, belonging to the
South-Eastern and Continental Steam Packet Company,
which was honoured yesterday by being the bearer of the
Prince olLeiningen, returned this morning to Ostend with
Prince Nicholas Esterhazy, forty passengers, and one car-
riage.

----We are now nearly full of visitors, thanks to the continued
fine weather, and the railway and houses are in much greater
demand than has ever been known before at this early period
of the season.

In addition to other buildings and improvements a new
church has been proposed by several independent and in-
fluential, and non-Puseyite, gentlemen, who have spared no
time or trouble in making this great and good work known
to the public. Subscriptions pour in fast, no day passes
N 4 About bringing its contributions ; and these not so much
from the inhabitants as from almost positive strangers—
strangers, many of them who are compelled to remain
strangers, not from any dislike to Ramsgate, but from the
knowledge that they have no church to go to here, where

they can hear the Gospel preached unaccompanied with any
of the mummeries of the Romish Church. It is expected
that the first stone of the new building will be laid early in
August, and that divine service will be performed within its
walls in the spring of next year. Her Royal Highness the
Duchess of Kent heads the subscription list with a donation
of 201.

ELIHU BURRITT.
TO THE EDITOR OF THE SUN.

Stit,—l was proud to read in your evening paper a day or
two since an article on the life and character of the learned
American blacksmith, Elihu Burritt. Many of your readers
perused it with pleasure: teetotallers, likewise (for they now
form a large portion of your readers), read it with joy. But,
Sir, you only gave a short extract of his fife, without allud-
ing t his being a teetotaler, and the object of his coming to
London in a few weeks' time. I will, however, inform you
that the learned blacksmith is coming over with Archdeacon
Jeffery, Dr. Beecher, and other gentlemen, as delegates (who
will form part of the expected 500) to the " Grand Tempe-
rance Convention," August 7. The daily sittings will be at
the City of London, Literary Institution, and the last (the
great) meeting will take place in Covent- garden Theatre
His sole object in coming over is, I believe, to attend the
convention, which, if hinted at in your article, would per-
haps have caused England and other places to think upon
the matter. lam exceedingly thankful to you, Sir, for the
kindness you have shown in inserting an extract from the
London Teetotaler (for it appears to have been taken there-
from), but, Sir, the metropolitan teetotallers will, I am sure,
be thankful to you if you would in a future number just ad-
vert to his being connected with the temperance movement.
It is intended, I believe, by the National Temperance
Society, should the editors of newspapers object to report the
meeting which is to be held at the theatre, to pay them for
it, or at least those of you who will do it when paid for. It
is, however, a great pity that the metropolitan journals are
so much opposed to the cause of teetotalism, while, at the
same time, many of the country editors frequently notice the
cause in their journals.
If, Sir, England alone could be teetotalised, would you not
sell ten times the number of copies you now sell? would not
the people become men and women of reflecting minds?
would they not advance in the scale of intellectual know-
ledge? and, their condition every way bettered, commercial
affairs would be entirely altered, and our country would as-
sume another aspect for the better.
Could you not write your views in a leading article upon
the question of " Drunkenness v. Sobriety," and the ad-
vantages resulting, physically, morally, socially, politically,
and religiously, from temperance? You are well able to
handle the subject in its political bearings. Apologising for
the liberty I have taken, I remain, Sir, yours respectfully,
91, Harrow-road, June 28. E. ROWSE.

It is stated that after Sir Robert Peel had declined a
peerage for himself, her Majesty repeatedly offered a peerage
for Lady Peel.
There ware present, on Saturday evening, at her
Majesty's Theatre, their Royal Highnesses the Duke and
Duchess of Cambridge, attended by the Baroness Ahlefeldt,
the Baren Knesebeck, and Mr, Edmund St. John blildmay ;
his Royal Highness Prince George of Cambridge, the Duke
of Wellington, the Duke and Duchess of Leinster and the
Lady Jane Fitzgerald, the Duke and Duchess of Beaufort,
the Marquis and Marchioness of Douro, the Marquis of
Clanricarde, the Marquis of Huntley, the Marquis of Ailes•
bury, the Marquis of Donegal ; his Excellency the Russian
Ambassador, the Baroness Brunnow, and Mdlle. Olga
d'Luchner ; the Earl and Countess of Wilton, the Earl and
Countess of Westmoreland, the Earl of Liverpool, the
Countess of Jersey, the Countess of Blessington, Lady
Clementine Villiers, the Earl of Munster, the Earl of
Londsdale, the Count de Noailles, the Baron and Baroness
de Rothschild; Lord and Lady Macdonald, Lady Gardiner,
Lady Fitzroy Somerset, Lady Georgiana Codrington, and
the Ladies R. B. Somerset, Lord and Lady Charles
Wellesley, Lady Orford, Lord Arthur Lennox, Lord Roch-
fort, Lady Charlotte and Mr. Lister, Lady Wetherell, Lord
and Lady Pollington, Lord William Beresford, Lady
Wombwell; Sir Loftus and Lady Otway, Lady Joddrell,
Lady Dillon, Lady Berkeley Williams, Sir William and Lady
Molesworth, Sir Charles Shackerley, Sir William Fremantle,
Lady Charles Chetwynd, Sir Charles Kent, Lady Easthope,
Sir F. Trench, Sir H. Webb, Sir H. Meux, Sir A. Barnard,
Sir H. Willoughby ; the Hon. R. Curzon, the Hon. Mr. Ar-
buthnot, the Hon. Ernest Fane, the Hon. Miss Foley, and
the Hon. Captain Foley, the Hon. 0. Toler, the Hon. Mrs.
Warneford, Captain Duff, Mrs. Denistoun, Mr. and Mrs.
Ewing, Mr. Leader, M.P.; Captain Greville, Major Baring,
Colonel Merrick, Colonel and Mrs. Biley, Mr. and Mrs. Sand-
ford, Mr. and Mrs. Hodgson, Mrs. Dodd, Sir W. Massey
Stanley, Colonel Wildman, General Upton, the Hon. Captain
James Macdonald, Mr. Hubert De Burgh, &c.
ROYAL BOTANIC SOCIETY, REGENT'S PARK.—At a
meeting of Fellows held on Saturday, at the Gardens of the
Society, the Duke of Norfolk, E.M., in the chair, a ballot
took place, and the following ladies and gentlemen were
added to the Society :—Sir M. W. Ridley, Bart., Samuel
Pratt, Esq., Dr. Gairdner, Robert Stephenson, Esq., David
Salornons, Esq., J. Gibbons, Esq., Captain Culpepper, Mrs.
Goodman, Mrs. Foster White, Mrs. J. Irving Glennie.
ETON COLLEGE, SITURDAY.—A. white marble bust of
the poet Gray, sculptured by Beube, has just been presented to the
College by Lord 31orpeth, and was this morning placed in the Upper
School with those of W'illia
and Granville,VmlV.,\ellin
Wellington,
allon,of which, Fox,
wChainni,nifithWteale-
lesiey, Porson, North, Pearson,
exception of William IV., have been presented to the College within
the last twelve mon 1 hs.
Charles Kemble, the celebrated English actor,
s‘f:h-hoooirsntevtlizasuiltgenabtyosmart:e
osntiallonr.
Leedse: remembered
jerneodni7ith pleasure in Paris,. and. who
has retired from the stage for some years, is at present it town on a
FinrsotmrumLeeendtasltito
THE ELECTRIC TELEGRANI.—The Electric Telegraph
instrumentality of
the telegraph
may completed on Wednesday week.
of any important
egvby, a distance of 122 miles,
• 'intelligence
that arrangements are nwowl
.lbe einomtmheunshicoarttedsrtahcreooufgltihtrleiee
minutes. Our readers
June-
lion Company for completineingl aLime of telegraph from Liver-
seorpfnacrd to London, and pool to Manchester, and frork7,l.l° doubt,
made
bbye gratified er
adntdo
J u learnne.
that contracts
in-
termediate stations. The plans arev
are about to be entered into for the neeesrseLdyyworks. When
the line is completed we shall then be enabled
Thisnsabledtowrilelcbeieyae
intelligencegrea great
conveniencef o m Londont o
the ina
public, especially
few
wminot
incases
m-
plrtant Parliamentary divisions, and on other
of
occasions i
of
great interest.—Liverpool Mercury.
Weaaet
telilniuogainintdoicfceh,rsetjssbttealeinro7diweymt
‘be,aineti
members
ohhoneof
o,ecßxio,Nft the u L
their EAI
GUE.---We
generaliEtaAtktGiel tre
peEl
aac,mse
i
tTti,,liiteA;u.,,:rNislo?dT;al3.-iu-Coenl
pruUoUileed.
The League newspaper will terminate its career, w
believe, on Saturday,g next, as the object for which it wase
started is now fulfilled.. . JAL' 11_1, . .

846.

AMERICAN NEWS.

MOST IMPORTANT FROM THE UNITED
STATES.

SETTLEMENT OF THE OREGON
DISPUTE.
ARRIVAL OF THE HIBERNIA.
FROM OUR OWN CORRESPONDENT.)
LIVERPOOL, SUNDAY.

The Royal Mail Steam-ship Hibernia, Captain
Ryrie, after a splendid passage of twelve and a-half
days, reached the Mersey this day, shortly after
twelve o'clock, bringing 102 passengers, and the
semi-monthly mails from the United States and
Canada.

By her arrival we have received New York,
Washington, Philadelphia, and Canada papers to the
latest date.

The news contained therein is of a most important
oharacter, as it announces the gratifying intelligence
that the dispute respecting the Oregon question has
been settled ; and that, after all, there shall be no war
for this barren and unprofitable territory. This has
been brought about by the acceptance of the
ultimatum sent out in the steamer of the

19th of May last, and submitted to the
United States Government by the British Minister
at Washington. On receiving the proposition, Mr.
Polk, who was irrevocably pledged to 54 40,
felt he could not adopt the terms contained therein,
and in order to rid himself of the responsibility of
rejecting it he sent a message to the Senate, in
which he enclosed the proposition, and left the
adoption or rejection in their hands. Accordingly,
on the 10th, 11th, and 12th, the Senate took up the
matter in executive session, with closed doors, and
after three day's deliberation adopted the proposal, by
a vote of 38 to 12, authorising the President to
conclude a treaty on the terms proposed. Since
then a magnetic telegraph has reached New York,
stating that the treaty had been signed by Mr.
Buchanan and Mr. Pakenham, and would be brought
before the Senate for approval on the 15th inst.
The terms of the treaty are to the following
effect :

1. The 49th parellel—'till it strikes the Sound separating
Vancouver's Island from the main—thence along the centre
of that Sound southerly through the Straits of Fuca to the
sea, leaving the navigation of those Straits free to both, and
the whole of Vancouver's Island to Great Britain.

2. The free navigation of the Columbia River to the Hud-
son's Bay Company until the expiration of their pre-
sent charter—and acknovdeding their right of property in
the buildings, improvements, &c., which they own south
of 49.

There are probably other stipulations about a reciprocal
use of the ports in Vancouver's Island, and within the Straits
of Fuca.

The New York Courier and Inquirer has the fol-

[owing :

These are merely conjectural statements of the points of
the arrangement, but they may be near the truth, and this
may be said with certainty, that to any proposition which
the President would submit to the Senate for their advice,
thereby clearly binding himself, if the advice be in favour of
the proposition, to accept them ; and in the actual circum-
stances of the country, that body, as now constituted, would
give their sanction.
We may, therefore, we think, congratulate both countries
in the final and peaceful adjustment of this angry and
threatening controversy.
In respect to the Mexican war, there is no new fact to com-
municate concerning the military operations since our last
report. The official dispatches of General Taylor, announc-
ing the capture of Matamoras, show that the Mexican force
was retreating hastily towards the interior, having evacuated
that town on the eve of General Taylor's approach, convey-
ing with them such portion of the munition and ordinance as
they could. General Taylor, however, had captured large
stores and many arms, cannon and small arms, secreted by
the enemy previous to his departure, but easily found after-
wards. The str►ctest orders, which are strictly enforced,
were issued by General Taylor to his army, to treat private
persons and property with entire respect, and that nothing
should be taken for the army but upon payment.
Vera Cruz has been blockaded by the United States ship
Rieraton and one or two others. Notwithstanding a New
York barque contrived to-get into port, although chased by
the United States' boats. The following are the official
documents on the subject of the blockade. The notice is as
follows :

"I have the honour to inform you that the port of Vera
Cruz remains blockaded from this day by the naval forces of
the United States on this station. Neutral vessels which
are now in port are at liberty to depart, with or without car-
goes, within the next fifteen days from this date. All
packets carrying correspondence, which are not engaged in
commerce, and under a neutral flag, are at liberty to enter
and depart from the port.
. .

"I liave the honour to be, with the greatest respect,
"ANDREW FITZHUGH, Comd'r."
The general Proclamation of Blockade is as follows :
In virtue of authority vested in me by the Government of
the United States of America, I hereby declare the ports of
Vera Cruz, Alvardo, Tampico, and Matamoras, in the Re-
public of Mexico, to be in a state of rigorous blockade by the
ships and vessels under my command.
The blockade will be extended to the remaining port. and
rivers of that Republic on the Gulf of Mexico, as soon as
circumstances will permit—of which due notice will be given.
This proclamation is made for the information of all con-
cerned ; and a copy of the instructions given to the blockad-
ing squadron is annexed.
Given under my hand this fourteenth day of May, A.D.
1846, on board the United States ship Cumberland, off
Brazos Santiago,
(Signed) D. CONNER,
Commanding United States Home Squadron.

Instructions to be observed by the officers commanding
vessels of the Home Squadron, in forcing the blockade of
ports of the east coast of Mexico.
Ist. No neutral vessel proceeding towards the entrance of
the blockaded port shall be captured or detained, if she shall
not previously have received from one of the blockading
squadrons a special notification of the existence of this
blockade. This notification shall moreover be inserted in
writing on the muster roll of the neutral vessel by the
cruiser which meets her, and it shall contain the announce-
ment, together with statements of the day and the latitude
in which it was made.

2. Neutral vessels which may be already in the port be-
fore the blockade of it, shall have full liberty to depart, with
or without cargo, during fifteen days after that upon which
the blockade is established.
3. The Ports of Vera Cruz and Tampico will remain
entirely free for the entrance and departure of neutral non-
commercial mail packets.
Mexico boats engaged exclusively in fishing on any part
of the coast, will be allowed to pursue their labours un-
molested.
In its present political condition, the flag of Yucatan is to
be respected. Signed, D. CONNER.
Commanding Home Squadron.

U.S. Ship Cumberland, off Brazos Santiago, May 14,
, ..,

In a Vera Cruz paper, El Republicano, a notice is pub-
lished that the British mail steamer Tay was to leave Vera
Cruz for Havanah on the morning of the 2nd instant, and
"would take on board, as heretofore, all specie and cochineal
that should be offered for shipment."
The charges of Mr. Ingersoll against Mr. Webster had been
investigated by a Committee appointed for that purpose, and
reported to the House the opinion that Mr. Webster was
not guilty, thereby disproving the rash and rather malignant
assertion of his accuser.

A long correspondence had passed between General Scott
and the War Department, on the subject of the command of
the army against Mexico. His letters seem to have sunk him
in popular esteem, as he is considered as having been actuated
by wrong feelings in declining the President's nomination of
him as General of the Army of Occupation.
The papers come to hand this afternoon contain a long re-
port from the Committee on Naval affairs, regarding the
project of a line of mail steamers between New York and
Great Britain. The voluminous document concludes by
recommending the project as one of great importance, and
submits the outline of a Bill to carry the same into execu-
tion. Doubts seem to exist whether the Government and
Congress would adopt the provisions of the Bill.
From Canada we have papers to a late date, but they con-
tain no news of importance. The Canada Parliament had
been adjourned from the 9th of May till the 19th of July.
CommEßcLin.—We have very little news of importance to
the commercial world. The money, market at New York was
quiet ; a good business was done on the 13th, but the demand
for Foreign Exchange was limited ; quotations on London
were 108% and 10814 ; Paris, 535 and 5364. The cotton
market was steady, and a fair amount of business. The
flour market was firmer, and provisions steady, with mode-
rate sales.

WASHINGTON, JUNE 14, 1846.
Everything is quiet here to-day—dreary weather and no
life, except a general congratulation among certain political
parties, at the happy termination of all difficulties with
England—prospectively.
I suppose you have received the ayes and noes, forwarded
on Friday night. I have not much more to add. The debate
on the message of the President was calm and moderate, and
conducted altogether, it may be said, on one side : the ultra
men (so called the 54 40's), said nothing, except to vote.
Nor did the Chairman of the Committee of Foreign Affairs
open his lips. He had not been consulted upon the question.
The message from the President, when made public, I
think will show him to have been consistent throughout, as
a gentleman, on his own notion of the question of right.
Circumstances have arisen, he says in his message, to make
it proper he should submit this proposition to the Senate,
from the British Government ; and as his precedent, he refers
to the conduct of General Washington in similar cases; and
he says he awaits the action of the Senate whether or not he
shall-make a treaty on the terms offered.
The terms you already know—the 49th line to be the
boundary, as far as the Straits of Fuca—then down to the
Pacific Ocean, with:neutral rights to the Straits—Vancouver's
Island to the British—and the navigation, until 1858, of the
Columbia river. The Hudson Bay Company to be indemni-
fied for property turned over to the United States.
Accompanying this message i a letter from Mr. M'Lane.
He says the question will be settled upon the terms he has
just bad from a late interview with Lord Aberdeen, but
doubts whether the British Government will agree (on one
particular of the terms) to anything short of the full naviga-
tion of the Columbia, as perpetual. Here Mr. MeLane is
ask it, until 1858. The
of the Senate, whether he
shall accept the terms.
proposed
the adviceenly
tearsmkss
them,
would have been so stated by but a
Government. It
of the United States, in answer to
wrong,presid nest tthheen
The above may be considered the ultimatum of the British
respect clue to the Senate
be intimated in the manner it has
from the Foreign-office, to
been to Mr. Pakenham, to be submitted.
consultation for for three evenings,
their late resolution of the Senate; indeed the instructions
The Senate, after consu
voting who could
6 Senators absent and not voting. All
have been got, the vote would have stood 43 to 13.
ecutive session, acceded to the terms :—Ayes, 38, nays, 12 ;
and motions to postpone,gwere voted down, and the resolu-
Mr. Benton made a lowing speech. All amendments
tion to agree passed without a single alteration of the terms
proposed.
This result is looked upon as a great triumph of the
friends of peace, and Mr. Benton, they say, has captured
. the administration, and beide the 5,440 men a; heetagee.

This vote has also created an armistice. Mr. Calhoun and
Mr. Benton, who have not spoken during the session, have
become warm friends again ; and other mutual civilities long
suspended, have been renewed. _ .

.
The treaty will be prepared Ivith all possible dispatch, and
will be sent in this week, probably by Wednesday, as I un-
derstand from a Member of the Cabinet.

The Ultra's (with all deference to their views of the ques-
tion) are much mortified, and will take occasion to speak
their sentiments when the treaty comes in. it may all be
finally concluded within the space Of ten days.
The above information you may be assured is true to the
letter. PELHAM.

LATEST COMMERCIAL NEWS.
NEW TGRA, JUNE 15.—Although it is but a few days
since the sailing of the steamer, yet there is a decided change
in the business prospects and feelings of the community, and
the moneyed concerns of the city and country.
The friendly and pacific overture made through the British
Ministry, and the prompt and decided acceptance by the
Senate of the same, have put a different complexion on every-
thing. There is no longer any doubt resting in the commu-
nity that the negotiations will be prosecuted to a speedy and
pacific termination. By this settlement all doubtful and
suspended questions with Great Britain are closed up and
finished—a state of peace and the most amicable relations, it
is believed, will exist and be perpetuated between the two
greatest maritime countries for a long period of time. It is
believed that the war with Mexico must soon terminate.
Singly and alone, without the aid and countenance of any
foreign nation, Mexico cannot, in its present weak state, con-
tinue a contest that must be fatal to its interests.

The settlement of this question has had a most favourable
influence on stocks of every description ; most of the rail-
roads have gone up from five to ten per cent., and some
even more. State and Government have all improved,and are
better—nor is the present rise deemed to be all that will
take place ; as confidence becomes more restored, and as busi-
ness increases, they will gradually go up higher.
The money market has suddenly become quite easy, and
the banks are discounting again with freedom. Four and
six months' paper is readilyataken, both in and out of the
street.

There is good reason for increased facility, and a more
abundant state of the money market. For some months all
classes of business men have been contracting their debts;
all the tendencies of trade have been to draw in, until the
banks and capitalists have a large amount of funds on hand
remaining idle. As confidence increases, and prospects
brighten, there will be a renewed disposition to invest and
employ the money.
A large amount of specie has been drawn for, to be re-
mitted south, to meet the large expenditures of the Govern-
ment ; and exchange has been against us in this direction.
As, however, the specie still remains in the country, and as
the current of trade will soon turn it back again, it has had
no influence on the market.

Foreigh exchange, particularly that on England, continues
to rule in our favour. Sterling bills are most abundant, at 8
to 8i per cent., which is at least 1 per cent. in our favour.
So long as this state of things continues, specie, instead of
going out, will come into the country.
That the exchange will continue, for at least a short time,
in our favour, is probable. There has not been much disposi-
tion to order any large supplies from abroad. Our political
relations have been so unsettled with England—together
with the war with Mexico and the unsettled state of the
tariff—it will still be some weeks before the determination of
Congress can be known in reference to the latter; and it is
not probable that many goods will be ordered before all these
matters are in a better train than at present.
Produce of all descriptions has fallen very low, but parti-
cularly flour and wheat—the two last have touched a point
seldom reached.

The demand for flour for the European market has become
very limited. But the demand for corn and rye has not
diminished. Both these, of a suitable description for the
market, are taken readily for export to England. Freights
have improved, and vessels are in request. All British and
other vessels arriving here with passengers meet with ready
demand and quick dispatch.
It is very early in the season to determine what the con-
dition of the crops will be. In some sections of the south
some complaints are made of injury done to wheat ; but the
accounts from the great wheat-growing districts of the west
are most cheering and favourable. The crop of cotton last
season has proved, although large, to be short of that of the
previous year. The culture of this great staple has kept
pace with the increased consumption in Europe. For-
merly a million of bales, and even a less quantity, was con-
sidered a great yield. Now two millions of bales are
required to meet the demand' The plants are now started,
and it is altogether too early to make any prediction. There
is an abundant time yet for the insect, drought, or freshets,
to affect the growth. The weather, generally, so far through
our extensive country, has been favourable for all other
crops, and from present appearances there will be an abun-
dant yield.
Operators in flour have been kept in suspense, to learn the
fate of the Corn question in the British Parliament. The
admission of our bread stuffs at a nominal duty would tend
materially to sustain prices, and probably to increase our
exports.
The sales of cotton on Saturday summed up 4,000 bales.
To-day the market is quiet, dealers not yet having had an
opportunity to digest the news per the Great Western.
The market on Saturday evening closed firm at 4 dols.
12it cents. for Michigan, and 4 dols. 25 cents. for Genessee
flour. Since the arrival of the steamer the market is un-
settled, and holders are looking for higher prices. No sales
are reported.
Mess pork is held at 10 dols. 75 cents., and prime at 8 dols.
Beef at 6 dols. 50 cents. to 7 dols. for city and country mess;
prime 4 dole. 75 cents. There is rather a good feeling in the
market, but we hear of no sales of importance.