The Sun.
London, England, 1848-06-27 00:00:00

THE EMPEROR'S SPI.:ECII.

o
ef
tbtlemr,
wNbaitehbmi,s—a'll.w'haeysp -or(i)okde
do
August and most honoured Senhorea, Representatives
l
ffe
rywo
passemblingy
meto-,
whosemys e l f
bsuuerlrl
joguei deced abu yd
et
xh
pe
errei
epnr
ee
es eini
dt i vi
is now arrived ; and I felicitate myself upon seeing
epromise berstohfththe
of the most beneficial effects being produced upon the
civilisation, the peace, and the prosperity of the empire.
Having endeavoured to cultivate relations of peace
and good understanding with all the states of Europe
and America, and to bring to a proper solution some
difficulties with which you are already acquainted, I
have continued to employ myself in measures both
peaceful and honourable.
The question between the Republics of the River
Plate has not yet come to any definite termination, and
the interests of my subjects continue to be gravely pre •
judiced by a struggle as disastrous as it is prolonged.
The pacification of these two Republics is the object of
my most sincere wishes; they are completely in accord-
ance with that interest which the independence of the
Oriental and Uruguay should inspire us.
In accordance with the desires which I had previously
expressed to you, I, at the commencement of the present
year, visited some of the municipalites of the province
of Rio de Janeiro, and I observed, with satisfaction, the
development of their industry and wealth, whilst I was
extremely gratified by the demonstrations which were
made by them all, of affection to my person, and attach-
ment and loyalty to our native institutions.
Public order has not been disturbed; but still I have
not failed to perceive that the state of security for per-
son and property is not such as I could desire to see it in
some provinces of the empire. I confide, therefore, to
my Government the care of revising and perfecting cer-
tain fundamental laws which will place upon a basis more
solid and permanent such necessary guarantees.
There will be presented to you a proposition relative
to the law of the 3d December, 1848, and another which
has for its object the declaring the incompetency of being
elected of Certain public functionaries in places in which
they exercise authority or jurisdiction.
I recommend to your consideration the examination
of the law for organizing the national guard, as well as
those which regulate the promotions for the army and
fleet as well as to the mode of recruitment for them. All
these subjects merit the particular attention of my Go-
vernment.
I likewise hope that in this session you will benefit
the country by a law which may have the effect of at-
tracting to the empire useful and industrious colonists.
You cannot fail to appreciate the urgent necessity for
such a measure.
By the account which shall be presented to you, you
shall see the connexion that exists between the receipts
and expenditure of the state; and I can assure you that
a severe fiscal economy shall preside over the acts of my
Government, and that in the application of the supplies
granted to me I have in view the improvement and ma-
terial amelioration of the provinces.
August and most worthy senhores, Representa-
tives of the Nation,—l feel assured of your loyal
and patriotic co-operation in maintaining order
and that love of concord which constitute the dis-
tinctive character of the Brazilian nation; and ray
Government will endeavour to cement, by perse-
vering in that course of justice and of political tolera-
tion which it has prescribed to itself. Our cheering
hope is that the Divine goodness may preserve to the
empire all those blessings that it now enjoys, and
bestow
upon it in the time to come peace and progressive im-
provement.
The session is now opened.
(From the Rio Mercantile Journal of May 9.)
All the branches of trade were much depressed
throughout the month of April. Iu imports business
was restricted by reason of a paucity of arrivals, not
more than 31 vessels having entered the port. This
absence of arrivals was to a certain extent beneficial,
for some important reduction was in consequence made
in the existing; stock of dry goods, although at prices
far from advantageous, unless a material improvement
occur in the exchange prior to the realisation of the
sales thus effected.

Produce was sensibly affected by the disheartening
accounts received from foreign markets, by the intelli-
gence received of the French revoluticn, which news
served to paralyse business, and to render the circula-
tion of war premiums of insurance at the 'least pruden-
tial, if not indispensable, and by the dearth of shipping
and consequent rise of freights.
The money market was likewise influenced from these
circumstances, calculated as they are to excite an alarm
which was perfectly justifiable, though we hope and
believe groundless. When to all these we add a very
extensive commercial failure, the firm of Ignatio Ratton
and Pines, the debts of which are stated at 130,0001.,
independently of liabilities to a large amount, the fact
that money did not become much enhanced in value can
only be accounted for by its previous abundance. Ex-
change will be seen to have-declined 4 per cent., and the
sum of transactions was very restricted.
Specie rose considerably, and stock fell 6 per cent.,
but had closed at an improvement of about 1 per cent.
upon the lowest price.
Of piece goods the business although partial was ex-
tensive, and in the absence of important arrivals during
the :past two months, the stocks have become much re-
duced.
THE EXPORT TRADE.—COME.—Prices were steady
early in the month, and a fair business was done from
April 4 to 11; from this period until the 25th scarcely
any sales were effected; the stock accumulated, and
prices declined fully 300 reisiland nearly 50,000 bags