The Sun.
London, England, 1848-03-27 00:00:00

S ri, MARCH 27, 1848.

AMERICAN NEWS.
ARRIVAL OF THE BRITANNIA.
LIVERPOOL, SATURDAY.
By the Royal Mail steam-ship Britannia, Captain
Lott, we have advices from New York to the 10th,
Boston to the 11th, and Halifax to the 13th inst., re-
spectively.
The Britannia has only brought a trifling amount
in specie.
The proceedings in Congress are unworthy of no-
tice. The Senate adjourned on the 9th, without com-
ing to any decision in regard to the treaty. The
Journal of Commerce states that several importnt
modifications had been adopted, and that its ratification
was certain.
General Scott is said to have sent a message to
Queretaro with the announcement that unless a
peace was concluded within three days, he would
proceed to occupy that and other points of the Re-
public.
A rumour prevailed in Vera Cruz that Santa Anna
had made an application to General Scott for a pass-
port to Vera Cruz, and permission to leave the
country, and that General Scott had acceded to his
request.
The bids for the loan of five million took place at
Washington on the Bth instant. On this subject the
Courier and inquirer has the following :
" The expectation of peace has operated favourably
on the Five Million Loan, proposals for which, adver-
tised for some time past, were opened on Wednesday at
the :Treasury, and the whole sum was bid for at an
average rate exceeding 1.26 per cent. premium. There
were bids to the amount of 17,000,000 dolls. The house
of Rothschild take 4,000,000 out of the 5,000,000. This
is the first appearance in our market of foreign bidders
for the United States loans—all of which heretofore,
have been taken on American account, and have not
been found negotiable in Europe. Yet certainly one can
hardly conceive a better operation than this subscription
of Rothschild's at a premium of 11 per cent. on 6 per
cent. stock of 20 years, or, if preferred, Treasury notes
bearing 6 per cent. interest, and coavertible at the plea-
sure of the holder into a 6 per cent. stock, the means of
paying for which are raised by the sale of bills of ex-
change on London at from 10 per cent. to 104 per cent.
premium. The effect upon our money market of this
new loan can hardly be otherwise than oppressive in the
end, though, since the negotiation, stocks have advanced.
Money is now very tight,—the banks are cautious, very
sparing of their discounts—and as the premium on
Treasury notes prevents their being paid in to the Cus-
tom-house, the vaults of the banks, not over-strong in
coin. are obliged to furnish the means of such payment,
as well as of the subscription to the new loan, which can
only be received in specie. And there is another loan
of 16,000,000 close behind, for whether peace with
Mexico be made or not, immediately these 16,000,000
will be needed. The return of peace, therefore, grate-
ful, and beneficial as it will be in other respects, will
not, as it seems to us, bring any immediate relief to the
money market."
The financial condition of the state of Maryland is
shown to be extremely satisfactory.
The surplus of receipts over expenditures was
208,000 dollars, which would form a sinking fund
towards paying off the State debt.
Special honours had been paid to the remains of the
late John Quincy Adams.
A great demonstration had been made by the
people of Now York in favour of Mr. Clay.
Our Canadian advices are important. The
th-
ingfollow-
speech from the throne was delivered by
Governor-General on the 28th ult. :
" HON. GENTLEMEN OF THB LEGISLATIVE COUNCIL, AND
GENTLEMEN OF THE LEGISLATIVE ASSEMBLY.
" I have called you together at the earliest period after
the dissolution of the last Parliament, in order that
I may avail myself of your advice and assist-
ance in the administration of the affairs of the
province. During the recess, I made an extensive
tour through the province ; and I have much sa-
tisfaction of informing you that I met with the most
gratifying indications of general prosperity and con-
tentment in all the districts which I visited. With the
view of maturing a plan for placing the post-office in
British North America on an improved footing, com-
missioners from the several provinces assembled lately
at my suggestion in Montreal. 1 trust that it will be in
my power, before the close of the session, to bring under
your consideration a measure for effecting this im-
portant object. The information which I have received
enables me to state that a good and practicable line of
railway between Quebec and Halifax has been discovered
by the officers to whom this exploration was confided.
The distress and suffering to which last year's immi-
gration to the province was attended have occasioned
me the deepest concern. Her Majesty's Government
have bestowed on the subject the most anxious con-
sideration, with a view to the introduction of such pro-
vision' into the Imperial Passengers' Act as
may afford a security against the recurrence of
these disasters. It will be for you to determine
whether it may not be advisable to pass some pro-
vincial enactment which shall have the effect of dis-
couraging the introduction of diseased and helpless per-
sons into the province; without, however, checking the
tide of healthy immigration which so powerfully contri-
butes to its advancement. The numerous projects for
the construction of railways, introduced into the Legis-
lature in each succeeding session, render it expedient,
with a view to uniformity of legislation, and the protection
of public and private interests, that an enactment should
be passed embodying the provisions generally applicable to
such undertakings. I commend this subject to your con-
sideration. On these and other important matters I
shall lay before you communications which have been
addressed to me by her Majesty's Secretary of State
for the Colonies. The constitution of the University
of King's College, a more equitable mode of assess-
ment in Western Canada, and the improvement of the
system of judicature in both sections of the province, are
among the subjects which will probably engage your
attention.
" Gentlemen of the Legislative Assembly,—l shall
direct the public accounts, with the estimates for the
present year, to be submitted to you. I feel confident
that you will readily grant the supplies which are ne.
cessary for the public service.
" lion. Gentlemen, and Gentlemen,—You may rely on
my disposition to co-operate with you in all measures
calculated to promote the public welfare. Canada pos-
sesses in singular abundance the elements of prosperity
and social happiness, great natural capabilities, an enter
prising, intelligent, and rapidly increasing population,
institutions fitted to reconcile liberty with order, and
the blessing of peace secured to her, under Providence,
by the patriotism of her sons and her connexion with a
State which is both just and powerful. The duty of
turning these advantages to account, in so far as this ob-
ject can be properly effected by legislation, devolves upon
Parliament. God grant that we may acquit ourselves of
the responsibility with fidelity and:success."
In the debate on the speech, the following amend-
ment was proposed and carried by a vote of 54 to 20,
leaving Ministers in a minority of 34 :
" Moves that the words,—' That we rejoice that his
Excellency, during his recent tour through the province,
has met with the most gratifying indications of general
contentment and prosperity in all the districts which he
visited,' be expunged, and the following inserted in lieu
thereof,—' That we rejoice that his Excellency derived
so much satisfaction from the tour which, during the
recess, he was enabled to make thiseugh the province.'
" And that the words,--' That we agree with his
Excellency, that Canada possesses in singular abundance,'
to the end, be expunged, and the following inserted in
lieu thereof,—' That—with the possession in singular
abundance of the elements of prosperity and social hap-
piness, resulting from her great natural capabilities; her
enterprising, intelligent, and rapidly increasing popula-
tion; from institutions which in their main characteristics
are so well fitted so reconcile liberty with order ; and
from the blessings of peace secured to her, under
Providence, by the patriotism of her sons, and hor con-
nection with a State which is both just and powerful--
Canada requires only that these advantages should be
turned to account by an equitable and constitutional
Government, and by wise and practical legislation to
secure those blessings permanently to her people.
" "That we feel deeply the responsibility devolving
upon Parliament in the endeavour to accomplish these
important objects; and we cordially join with his Ex-
cellency in the prayer that we may acquit ourselves of
that responsibility with fidelity and success.
" That we feel it, however, to be our humble duty
to submit to his Excellency, that it is essential to the
satisfactory result of our deliberations on the important
subjects to which his Excellency has been graciously
pleased to direct our attention, and on other matters of
public concern, that her Majesty's Provincial Adminis-
tration should possess the confidence of this House and
of the country, and respectfully to represent to his Ex-
cellency
.that that confidence is not reposed is the pre-
sent advisers of his Excellency.' "
The Ministry subsequently resigned.

COMMERCIAL INTELLIGENCE.
NEW YORK, MAuctt 10.
(From the New York Courier and Inquirer.)
and,
Last week our market had an advancing tendency,
including the effect of the steamer's news on Saturday
by telegraph, the improvement was one-eighth to a
quarter of a cent. On Monday, after receipt of the
letters, fully 6,000 bales were sold, half for Englanuarter
d, and
a fourth to speculators, at a further advance of a q
to three-eighths of a cent ; on Tuesday.ihe market was
easier, and about 2,500 bales were sold, partly on specu-
lation, at a decline of one-eighth of a cent from Mon-
day's prices; on Wednesday the market was still softer
and the sales small; yesterday it was again reported on
'Change as still softer, and after 'Change about 1,000
bales were sold at a decline of fully i cent on Tuesday's
prices. We cannot now quote middlings with any con-
fidence at more than 71 to 8 for Orleans, and ii to 7;
for Uplands, and fair at 81 for Orleans and i for Up-
land. Freights it to 5.32 per pound for Liverpool, and
i a cent for Havre. Stock between 45,000 and 50,000
bales. The effect of these advices upon the price of our
? agricultural products was adverse. In this market, in-
I deed, flour, by reason of the smallness of the stock ou

hand, is somewhat higher, and a few or no shipments
are making. Indian corn has yielded a few cents.
The exports from New York for the fortnight ending
4th inst. were of
400 barrels
Flour ••• ..• • •
Indian corn ••• ... 102,162 bushels
Corn meal ... ... 1,273 barrels
EXPORTS TO FRANCE.
Flour—New York, 613 barrels ; Now Orleans, 2,026
barrels; total, 2,639 barrels.
Wheat—New York, 3,392 bushels.
Corn—New York, 10,590 bushels.
The prices quoted for flour (Genessee) are 61 dollars
to 6i dollars per barrel; for wheat, 140 c. to Icordi4sc. per
bushel; and for Indian corn, 55c. to 60c., acng to
quality.

Ovra o'cLocx,
The sales at the Stock Exchange this morning were
to a fair extent, without any material alteration from
yesterday's rates. Treasury Notes sold at 101 i to 102.
Exchange has been dull with advanced rates. Bills on
London sold at 109} to 1091, and on Paris at 5.231.
The following are the closing rates of exchange, Sm.,
compared with those at the departure of the last
steamer

RATES OF FOREIGN EXCHANGE, &C.
March 10. Feb. 26.
Sterling Exchange 1095 to 1091 110 to 1105
France 522 000 525 5 20
United States Sixes
Treasury Notes lOl 102 1025 102
-- 100
Ohio Sixes 9B, —100 f
Pennsylvanian Fives 731 741 74 —74
Kentucky Sixes 9B 985 99 994
Cotton—The market is quiet to-day, a few sales only
having been made at quotations.
Flour—The weather has been unfavourable for ope-
rations to-day, and the sales have been limited to small
lots for home use. Prices are firm in consequence of
the small stock on hand. Western Canal, 6 dollars
12} cents to 6 dollars 375 cents ; pure Genessee, 6
dollars 50 cents ; common southern kinds, 6 dollars
124 cents. Corn meal is dull at 2 dollars 50 cents.
Provisions—There were sellers of new mess pork at
10 dolls. 75 c. to 10 dolls. 875 c. Prime was scarce,
and small sales from store to the trade were made at 9
dolls. 50 c.; sales of good shoulders were reported at 4f
c.; and hams at 7c. Lard—Sales of 1,000 kegs, No. 1,
were made at 85 c.; 800 ditto, at 84 c.; and 500 were re-
ported sold at 74 c. to Bc. There was no change in
cheese or butter. Grease lard—Sales of 40 hhds. were
made at 54 c.
Ashes are inactive; pots,ll dolls. 87 c. to 5 dolls. 94 c,;
pearls, 8 dolls. per 1001bs.
The rates of freights are—to Liverpool, for cotton
5-32 d. to 3-16 d. per lb.; flour and turpentine ls. to
ls. 3d. per barrel; grain 4d. to sd. per bushel. To Lon-
don, 2s. per barrel for flour, and other articles in pro-
portion. To Havre, nominally for cotton 3-3 c. per lb.;
flour, 50 c. per barrel; ashes, 8 dolls. to 10 dolls. per
ton, rice, 10 dolls. per ton.
COTTON TRADE.
On the day succeeding our last report the feeling of
dullness was more apparent, and prices one-eighth leas
were accepted for 600 bales, the amount of the day's
transactions, the line of the markot being at 71c. for fair
Uplands. On Monday, the 28th ult., the sales were 700
bales, at the same rate. On Tuesday the pressing lots
appeared to be exhausted, and the sales amounted to 804
bales, at prices one-eighth higher, being equivalent to
those current at the date of our last. On Wednesday,
the Ist instant, the day was blustry and unpleasant, and
there was but little done; but the market was evidently
hardening, a growing confidence being felt by operators
in better prices by the Britannia. On Thursday, a
disposition to buy existing, holders succeeded in the
attempt to obtain better prices, at which 600 bales were
disposed of. On Friday the sales were 1,000 bales,
chiefly for home use, the market closing firm at Bc.
for fair Uplands. On Saturday morning the arrival
of the steamer Britannia at Boston was announced
by the telegraph, and a summary of her news was
received about one o'clock. The advance of a half-
penny brought by her was so unexpected, and so
difficult to realise, taken in connexion with the
accompanying accounts from the manufacturing dis-
tricts, that buyers at a quarter-cent advance were not
readily obtained, and the sales barely reached 1,000
bales. On Monday, immediately after the delivery of
the letter mail, buyers ippeared, and prices soon ad-
vanced another quarter of a cent, at which the market
closed firm, with sales of 7,000 bales, nearly the whole
of which were taken for Liverpool, the great demand
being for the low grades. On Tuesday the market was
amply supplied at the closing rates of the preceding
day,'and the sales did not exceed 2,000 bales, closing
feebly. On Wednesday only 1,000 bales found buyers,
and prices one-eighth less than the closing rates of
Monday were freely accepted. Yesterday the weather
was inclement, and the operations were confined to small
parcels for the closing of orders, and for which lower
prices were accepted.
We have adjusted our quotations by advancing them
three-eights of a cent on our last, to conform to the
close of the market yesterday. The purchases for this
week appeared to be entirely for orders, and were
apparently based on the supposition of over estimates
of the crop. from the continued deficiency at the
ports, which has ceased to exist, and also from the
moderate amount going forward to Liverpool, and the
reduced stock there, the improvement being assisted by
the greater ease in the money-market, and the hopes of
a better trade with India, from which quarter the ac-
counts were more encouraging, as the low prices which
had been ruling there had tended to increase con-
sumption, and hopes may reasonably be entertained that
we shall shortly hear from that quarter of bare markets,
and advancing prices.
The stock of cotton in the interior towns has accumu-
lated to a burdensome extent, and must soon be thrown
into the ports, and it is probable that the present un-
looked for advance will materially hasten the disposition
of it. At Augusta and Hamburgh the stock is 67,000
bales against 38,000 last year; at Macon, 37,000 bales
against 14,000 last year; at Columbus, Georgia, 24,000
bales against 17,000 last year; at Montgomery, Ala-
bama, 22,000 bales against 8,000 last year. The total
receipts at the ports exhibit an excess over those of last
year of 39,000 bales.
FOREIeN EXCHANGES.
Exchange on London ••• 110 to 109
on Paris ... ••• ... 5.225 to 5.231
on Amsterdam ... 45 to 40
on Hamburgh 400
to 35
on Bremen ... 784 to 78

PERUVIAN BONDS.
To the note inclosing the memorial of the Peruvian
bondholders to Viscount rahnerston, the following reply
has been received from the Right Hon. E. J. Stanley :
" Foreign-Office, March 17, 1848.
" Sir,—l am directed by Viscount Palmerston to
acknowledge the receipt of your note of the 11th inst.,
inclosing a memorial addressed to his Lordship by the
holders of Peruvian Bonds, urging her Majesty's Go-
vernment to interfere en their behalf with the Govern-
ment of Peru, in order to induce that Government to
carry into effect an arrangement which would be satis-
factory to the parties interested. And lam to acquaint
you that Lord Palmerston has instructed Mr. Pitt Adams,
her Majesty's Charge d'Affaires at Lima, to take an
early opportunity to press the claims of the Peruvian
Bondholders upon the Peruvian Government, and that
his Lordship forwarded that instruction to Lima by the
mail of this day.—l am, Sir, your most obedient humble
servant, (Signed) "E. J. STANLEY.
" James Capol, Esq."

-----
TROOPS FOR THE "LINE."
TO THE EDITOR OF THE SUN.
SIR,—It occurred to me, when I read the various
police accounts of the " swearing in of the different
railway companies' servants as special constables," that
it would be wiser in future to have that civil bedy
(rather a misnomer, but no matter) disciplined as
soldiers to act in a case of emergency. They would
then not only be useful in assisting the Government
forces to quell riot, but would also be instrumental in
preserving the rail from destruction—a primary con-
sideration
at such a time (as the recent French Revolution
proves). We have a dockyard battalion. Why not a
railway one? In my humble opinion the services of the
latter are far more likely to be called in requisition than
those of the former, in the event of an emewte. And
then, instead of having a carricature of an officer, merely
with' a baton as a weapon of defence, baying one fully
prepared and properly armed (which would inspire the
necessary confidence on his part, and thereby create the
necessary diffidence on that of tbe delinquent),
to
e
should have, to all appearances, a person comcpeten to
e
effect the desirable threefold purpose of proteting h
public interest, his employers', and last, h not
thou g
' least, his own.
I am, Sir, your obedient servant,
A LOYALIST.
March 23, 1848.

CLEARING OUT OE ENON CZIAEHL.—MX. G. A,
Walker, surgeon, has been this week engaged removing
from this place tho several thousand uman bodies that
lay mutilated, decomposed, and scattered in wild con-
fusion about its cellars. The trustees of tho chapel, who
are poor men, having disposed of the building upon the
condition of their removing those bodies, transferred
them to the flooring of the chapel, where they were com-
pelled to leave them, as they had neither means to pur-
chase, nor interest to obtain, ground for those remains.
Mr. Walker, however, kindly interfered, and relieved
them from their difficulty, by obtaining for them a piece
of ground in the Norwood Cemetery for the bodies,
bones, &c., which filled several large waggons, and
occupy in the cemetery a grave of 9 feet square and 20
feet deep. The removal of the bodies, which was com-
pleted last night, was performed at midnight, under the
personal inspection of Mr. Walker, and occupied several
nights. The empty coffins, and broken coffin wood,
which were removed in throe waggons to an open plain,
were burned also under Mr. Walker's inspection, and
the ashes collected and consigned to the same grave in
Norwood.
CLOSING THE TRANSFER. BOOKS AT THE BANK.—
The Stock Exchange have petitioned the Governor of
the Bank of England to shorten the time of the shut-
tings, which have already been curtailed eight days.
It is time, hoever, that capitalists and others should
be altogetherw freed from these half-yearly clogs on
commerce.