The Sun.
London, England, 1846-08-13 00:00:00

ARTICLE

From the point on the 49th parallel of north latitude,
where the boundary laid down in existing treaties and con•
veutions between Great Britain and the United States termi-
nates, the line of boundary between the territories of her
Britannic'. Majesty and those of the United States shall be
continued westward along the 49th parallel of north latitude
to the middle of the channel which separates the continent
from Vancouver's Island, and thence southerly through the
middle of the said channel, and of Fuca's Straits, to the
Pacific ocean; provided, however, that the navigation of the
said channel and straits, south of the 49th parallel of north
latitude, remain free and open to both parties.
♦RTICLE 2.
From the point at which the 49th parallel of north latitude
shall be found to intersect the great northern branch of the
Columbia river, the navigation of the said branch shall be
free and open to the Hudson's Bay Company, and to all Bri-
tish subjects trading with the same, to the point where the
said branch meets the main stream of the Columbia, and
thence down the said main stream to the ocean, with free
access into and through the said river or rivers, it being un-
derstood that all the usual portages along the line thus de-
scribed shall in like manner be free and open. In navigating
the said river or rivers, British subjects with their goods
and produce shall be treated on the same footing as citizens
of the United States, it being, however, always understood
that nothing in this article shall be construed as preventing,
or intended to prevent, the Government of the United States
from making any regulations respecting the navigation of
the said river or rivers, not inconsistent with the present
treaty.

ARTICLE 3.
In the future appropriations of the territory south of the
49th parallel of north latitude, as provided in the first article
of this treaty, the possessory rights of the Hudson's Bay
Company, and of all British subjects who may be already in
the occupation of land or other property lawfully acquired
within the said territory, shall be respected.
ARTICLE 4.

The farms, lands, and other property of every description,
belonging to the Puget's Sound Agricultural Company, on
the north side of the Columbia river, shall be confined to
the said company. In case, however, the situation of those
farms and lands should be considered by the United States
to be of public and political importance, and the United
States' Government should signify a desire to obtain posses-
sion of the whole or any part thereof, the property so re-
quired shall be transferred to the said Government at a proper
valuation to be agreed upon between the parties.j
ARTICLE 5. _ _

The present treaty shall be ratified by the President of the
United States, by and with the advice and consent of the
Senate thereof, and by her Britannic Majesty, and the rati-
fications shall be exchanged at London at the expiration of
six months from the date hereof, or sooner if possible.
In witness whereof, the respective Plenipotentiaries have
signed the same, and have affixed thereto the seals of their

arms.
Done at Washington the 15th day of June, in the year of
our Lord 1846.

JAMES BUCHANAN.
RICHARD PAKENHAM.

Attentive rea►lers will not fail to remark what may be
called the very unusual form at least in which Mr. Polk de-
sired to give the notice ; an autograph from sovereign to so-
vereign I J. K. Polk, President of the Yankee Doodles, to
Victoria, Queen of the Bull family I
Well might Mr. M`Lane express doubt whether such a
form of communication would be "deemed admissible ;" and
we are still left in doubt whether the autograph of President
Polk was presented "to her ➢lajesty in person," instead of
passing, as all preceding matters connected with the nego-
tiation have, through the state departments of the two
countries.
The invariable usage of our country has been, we believe,
to deal with foreign countries through our Secretary of State
and the corresponding officer of such countries, and not, as is
sometimes done in Europe, directly from monarch to monarch.
But the severe democracy of Mr. Polk seems to have pleased
itself with the notion of addressing himself directly to his
well-beloved cousin Queen Victoria, and, to obtain this gra-
tification, to have snatched a grace beyond the reach of our
diplomatic precedents. This is no great matter, to be sure,
but it looks s►lly.

COMMERIAL INTELLIGENCE.
( From the New York Express,)
This is thepacket day for the Boston steamer, which leaves
to-morrow about the same hour as the Great Britain from
this port. Merchants, in order to be sure, will probably write
by both steamers, more particularly as the passage of the
Tariff Bill, in Congress, furnishes commercial news of interest
to all parts of Europe.
Since the sailing of the last steamer there have been many
important matters that have claimed a good deal of public
attention. The news of the repeal of the corn-laws is an im-
portant event, and will have a sensible effect on the trade of
the city. The exports of wheat, rye, corn, and flour, as well
as some other articles, have been uncommonly large for this
season of the year. Nor has the disposition to ship abated,
but, on the contrary, within a few days the purchases of flour
have increased.
The action of Congress, just now, is of unusual interest.
The tariff question has been discussed and finally settled. In
the Senate the parties were so equally balanced that the
question was settled by the casting vote of the Vice-Presi-
dent. The result v.ill create a sensation throughout the
country, and will be one that will materially effect the coming
elections.
The war with Mexico still continues, with no prospect
whatever of a speedy termination. It is a fruitful source of
expenditure—so much so that Government have been au-
thorised-to issue 10,000,000 of Treasury notes, and this is
considered but the beginning of the amount that will be
required.
The appropriations of Congress, it is believed, before the
session closes, will reach 70,000,000 of dollars, a sunk that
will exhaust all the revenue in the treasury, and require a
very large amount of loans.
Money is sufficiently plentiful for all practical purposes.
Tho banks discount freely four and six months paper, at