The Sun.
London, England, 1846-09-03 00:00:00

THE SUN, LONDON, THURSDAY EVENING, SEPTEMBER 3, 1846.

different claimants to the hand of their SOVEREIGN
has been the intrinsic and extrinsic motive of their
insubordination. But that the phrase might easily
be construed into a vety sorry compliment to Queen
ISABELLA, we should say that her MAJESTY had been
" a bone of contention" between the most powerful
interests of the continental monarchies; and those
bickerings of external diplomacy have aroused a cor-
responding antagonism among the population subser-
vient to her dynasty.
What must particularly strike the observation of
every Englishman as the most satisfactory circum-
stances in the proposed espousal of QUEEN ISABELLA
are---first, that no foreign . Prince has been forced
upon her acceptance; and, secondly, that the present
arrangement partakes somewhat of the peaceful cha-
racter of a domestic union, so that the policies of the
continental Cabinets cannot well be jaundiced by po-
litical envy, or the minds of statesmen inflamed by
jealousies of each other's success. Whether the
chosen partner of her MAJESTY'S destinies be,
according to matchmaking parlance, the most
eligible among her numerous suitors perso-
nally, there can be little question but that
politically the selection is the result of much saga-
cious forethought. What was hitherto a matter of
serious contention between the Imperial families of
Europe will thereby be quietly removed from the
attainment of any, without causing regrets or heart-
burnings of even momentary duration. What, more-
over, was precarious in the Spanish Government will,
simultaneously with that marriage, acquire both sta-
bility and strength. Those lawless spirits who have
merely an affection for rebellion and bloodshed will
have less opportunity, and less excuse, for fomenting
insurrections ; and the social condition of the inha-
bitants of the Peninsula may so far be melio-
rated, as to afford some reasonable hope for their
greater civilisation. By marrying the Infante Don
FRANCISCO D'Assis, Queen ISABELLA may be com-
mencing a new era of prosperity, and glory, and hap-
piness to Spain.

We might undoubtedly, on the score of physiolo-
gical evils resulting from incessant intermarriages
between successive generations---as instanced in the
imbecile descendants of the elder branch of the
BOURBONS and in those of the Royal Family of the
BRAGAN ZAS—vve might for those indubitable reasons
find cause for regretting the marriage of the young
QUEEN with her cousin. But, considering all the
evils which will be avoided and all the inestimable
advantages which may be acquired by this connexion,
we cannot even here find cause for paramount re-
grets or serious apprehensions. What noble oppor-
tunities will present themselves for the display of a
timely beneficence on the part of the Spanish SOVE-
REIGN ! What opportunities for eliciting the loyalty and
ensuring the affection of the Spanish population !
Pope Pius IX. has, by seizing such opportunities,
and by corresponding with the exigencies of the
time, kindled the enthusiasm of a previously dis-
affected populace, and excited the admiration of every
honest heart in every corner of the globe. All this he
has accomplished within the trifling interval
of the few months which have now elapsed since his
elevation to the Papal chair. As Cardinal MATTE]
FERRET' his benevolence, and piety, and gentleness
of disposition had already acquired the love and
esteem of his associates and neighbours ; as
Sovereign Pontiff he has thus rapidly obtained
for himself a great and honourable celebrity.
And all this simply by acceding to the de-
mands of a liberal and enlightened generation,
by evincing justice, and candour, and generosity in
his administration of affairs. Such another oppor-
tunity for good things will be afforded to QUEEN
IS ABELLA by her marriage with her cousin, the Infante
Don FRAxcisco ; by availing herself of which
opportunity her dominion over a vast and splen-
did empire might be peacefully consolidated,
the well-being of her people might be immediately
consulted, and the union of a divided race might
prove the most brilliant and satisfactory conse-
quence. Discretion, however, should of course tem-
per leniency, otherwise wrong might result from
an extravagant struggle for right. May the
councillors of Queen IS ABELLA direct her judiciously
at this important juncture of her history ! Such a
golden moment may never occur again. An am-
nesty would be welcomed. Among other paramount
circumstances let it not be forgotten that ESPARTERO
still continues in banishment.

[An additional express, containing intelligence of
the betrothal of the royal couple, has reached us since
the above was written. We have now to congratulate
ourselves upon the performance of the preliminary
ceremony of that marriage, the mere promise of
which appeared to us sufficient reason to rejoice.]

The sentence pronounced on HENRY will be perused
with the greatest approbation by all, and will go far
to prevent the recurrence of a similar attempt,
which, considering the morbid passion for cre-
ating a sensation that exists amongst our continental
neighbours, would be by no means unlikely, if the
offender was treated, as a great criminal, and much
interest excited in his fate. Contempt, however, is
the prominent feeling towards him, and that, coupled
with the degrading nature of his punishment, will
have a most beneficial effect on persons of a similar
class, who might be tempted to act in like manner.
Many who would shrink from death at the hour of its
approach, would not regard it with the same horror if its
arrival was to be delayed for a season, and various forms
and ceremonies gone through in the intervening time.
As in HENRY'S case, the man who could not screw
up his courage so far as to commit suicide, might yet
commit an act which would eventually lead to his
conviction and execution ; and the knowledge that
the punishment for that act would be a protracted
one, compelling him to a life of hard and unmiti-
gated labour, would have much greater effect in de-
terring him from the commission than if it were the
extreme one of death. The manner in which the
would-be regicide received the announcement
of his sentence sufficiently proves that he was
surprised and disappointed at its nature. " On hearing
it read by the Registrar of the Court," says the Journal
des Debats, "he trembled convulsively, and a sudden
paleness covered his features, in which intense anxiety
was depicted. He appeared to be much shocked. I
would have preferred death to infamy, said he. I ex-
pected something else." In fact, his hope was that
he would be sentenced to death, and that from the
mitigated character of his offence, compared with that
of LE COMTE and the other miscreants who have
sought an infamous notoriety for themselves, at the
expense of the wise and benignant Monarch who
now sways the sceptre of France, he would have
obtained a remission of the extreme penalty, and
been detained for life as a state prisoner,
with comforts and luxuries, which he from his em-
Larrassed position would have been unable by other
means to procure. He took every precaution to pro-
vide evidence to which he might have appealed in
the event of the sentence of death being about to be
carried into execution ; he carefully prepared a 1
written statement containing an exact recital of all
the preparations he had made, to induce a belief that
his attempt was serious; this he concealed in a copper
tube, plugged at each side with wood, and buried a
depth of eighteen inches in the cellar of the house
where he resided. There appears little doubt that he
calculated that this, which he considered an indis-
putable proof of the truth of his assertion that there
were no projectiles in the pistols, would have saved his
life if really in danger. And he now feels bitterly
disappointed in finding that his condition, in place of
being ameliorated by his act, is far worse:than it was
before. His pride would not permit him to work as
a journeyman at his trade, although he might have
earned a comfortable provision by so doing, and he is
compelled to a much severer description of labour,
unrelieved by any mitigating circumstances.

The great object to be attained in according,
punishment is the prevention of crime on future oc-
casions. Our own beloved SOVEREIGN was exposed
to similar attacks. The first offence of OXFORD was
speedily followed by that of FRANCIS, and then of
BEAN : the latter probably resembled HENRY most
closely in his objects and motives. The example
was catching; imitators followed in the track
of the first criminals, until it was wisely decided that
corporal punishment, flogging—the most infamous
and disgraceful of all, should be inflicted on any
future offender. We are happy to say that from
thenceforward we have been spared the pain of re-
cording any similar outrage. GOD knows we are no
advocates for the lash. Our country has too long
permitted its use in both the branches of the service. ,

It should only be used on criminals of the deepest de-
pravity, of the most infamous class ; but we
cordially approve of its use in such cases.
We should have no objection to its appli-
cation on such offenders as JOSEPH HENRY.
Seven times has the life of LOUIS lIIIILIPPE been
attempted. The peace and tranquillity of the world,
the happiness and prosperity of nations, have been
endangered by the atrocious acts of miscreants, ac-
tuated by various motives. The evil is a fearful
one ; it requires active and energetic measures to
prevent its further spread. We think that the nature
of HENRY'S sentence is a step in the right direction ;
we hope that it will be followed up by enactments,
Authorising rigorous and degrading punishment for
any demonstrations against the life of the French
Sovereign ; and, by so doing, the Monarch will be spared
from such annoyances and the people from knowing
hat their beloved ruler Is subjected thereto.
Punishments create terror according to the rarity of
their infliction ; a constant repetition takes greatly
away from the effect the horror excited. In our own
country the lash does not excite the same horror—
from its being known that it will be used on our
soldiers or sailors for offences of the most trivial cha•
acter, involving no moral guilt—that it would in
France, from whose punishments it has been blotted
out altogether. Let such criminals be declared liable
thereto, and it will go far to prevent the possibility cf
a similar offence.

The Countess SAMOLOW, the widow of a Russian
nobleman, has had her property confiscated by
the Russian Government, because she has con-
tracted a second marriage with a foreigner in Trieste.
The Countess has large estates in Russia, which will
be put up to public auction in the space of six months.

The Warsaw Courier of the 26th August publishes
a new ukase from the EMPEROR, which states that all
persons condemned to hard labour for life in the
kingdom of Poland, and even all those condemned to
bard labour and to imprisonment for stated periods,
if their punishment has yet five years to run, shall be
sent to Siberia. The first-named shall be employed
20 years in the mines, and shall be colonists for the
rest of their days. The others shall be employed in
mines or at fortifications for the half of the time
which their punishment would have lasted in Poland,
but they are also to remain for the rest of their lives
in Siberia. It is not stated whether the prisoners
are free to accept or refuse these conditions.
In the Augsburgh Gazette of the 27th August we
find it announced that Prince PASKEWITCII has been
entrusted with the execution of a plan for relieving
the inhabitants of Poland from all the feudal services
which at present they are liable to render.

Madrid papers of the 27th ult. have arrived.
They all speak of the marriage of the QUEEN with
Don FRANCISCO D'ASSIS as of a matter completely
determined on. The news from Lisbon by these
papers is to the 22d ult. The rumour that GONZ &LES
BRAVO had been recalled, at the instance of the Por-
tuguese Government, on account of his intrigues in
favour of the CABRALS, is confirmed. The Spanish
army, which, in consequence of his representation,
had been concentrated on the Portuguese frontier, has
been withdrawn, and the two Spanish ships of war
which he had ordered to Lisbon, have been dis-
patched to Vigo. Admiral PARKER, in consequence
of the directions given by General VILLALONGA to
his troops, to pursue the Spanish refugees into the
Portuguese territory, had immediately on his arrival
at Lisbon sent off a steamer to Corunna with dis-
patches to VILLALONGA, warning hitn to abstain from
all armed demonstration against Portugal.

MADRID BOLSA, AUG. 27.—The Three per Cents.
were done at 34* for cash ; the Four per Cents. at 214 ;
the Five per Cents. at 22i ; the Debt without Interest
at 6i ; and the Coupons at 20*.

We have received the Paris papers of Tuesday.
On Monday the Chamber of Deputies were engaged
in discussing the validity of the return of M. DRAULT
for Poitiers. M. DRAULT was a member of the Left
Centre, but in order to secure the votes of the Legiti-
matists, he had given them a written pledge to vote in
a certain manner on certain questions.' His return
was petitioned against on the ground that, having
given a written pledge, he did not enter the Cham-
ber as a free agent, that he was in fact a
mere delegate and not a representative. The
discussion on this question, involving as it
does the whole theory of representative government,
was very animated and very interesting. M. GunoT,
who is opposed to this system of pledge-giving, thus
detailed his views of the true theory of representative
Government. He said "that hitherto he had refrained
from entering into the question of pledges given by
candidates to the electors, as he considered it as one
of great delicacy. He now, however, felt that he
could no longer remain silent on the subject. The
great characteristic of a representative government
was, that every member should have the free exercise
of his own conscience. At the two extremities of
the :Government there was irresponsibility. The
KING, who appoints peers and ministers, is irre-
spon sibl e, and the electors, who named Deputies, were
so likewise. The giving of pledges would tend to
overthrow the equilibrium that ought to be main-
tained, as it would confer power on those who did not
discuss. What would be said if the Crown were to
require pledges from the Peers of France whom it
created ? The Crown did not demand any such en-
gagement, and why should electors ? It would, in his
opinion, be the subversion of a representative govern-
ment for a federative one ; which was the worst of all
governments, for it was the aristocracy of localities.
To grant to the electors the right of requiring pledges,
was to create 459 sovereigns; it was to bring together
in a hostile manner a certain number of absolute
sovereigns, and thus destroy the unity of France.
The requiring pledges struck at the root of all free
discussion ; it abolished the freedom of those who
took part in debate; in fact, it was the abolition of a
free government. It had been said that those pledges
were null. The Chamber did not recognise them,
and they were consequently not obligatory. That
doctrine, however, he must designate as an immoral
one. It was like a man contracting a debt of honour,
and then not paying it. It had been also said that a
Deputy from whom pledges had been required might
resign. But what would be the consequence of such
a state of things It might follow that on the very
day that the Government had rallied round it a certain
number of Deputies, those men might find themselves
compelled to resign. The liberty of the Deputy, he
repeated, should be unlimited, and therefore he
thought the election ought not to be validated."
M. ODILON BAREOT, who supported the return of
M. DRAULT, admitted the validity of M. GUIZOT'S
theory, but contended that it did not apply to the
case then under consideration. He observed—

" That undoubtedly the constitution did not recognise,
in a legal point of view, the giving of pledges by a
Deputy ; and if such a practice were established it
would introduce a federative government for a repre-
sentative one. But, ho would ask, was there really any
great danger of such a result in the present day ?
Could, for instance, the pledges now protested against
be for a moment assimilated to those commonly
given in a Swiss canton ? There was nothing but a
moral engagement, and into that the Chamber had
no right to inquire. Were, indeed, that done it would
be to exercise a species of inquisition. Where was the
limit to be placed. How far was a candidate to go, and
where was he to stop ? When was an election to be an-
nulled under a moral engagement ? If a candidate, in
a meeting of electors, pledged himself to vote against
dotations, was the election to be annulled ? Certainly
not, for if that were done the majority would be deci-
mated I— (Hear, hear.) AI: Drault had entered into
personal engagements, such as he had a perfect right to
take. But it was objected no pledges ought to be given,
except in conformity with one's convictions. Granting
that, by what right was the Chamber
to decide on any
man's sentiments ? Why was it to be changed into a
confessional ? Was it when the pledge was given on
one point or on several that the election was uull ?
Where was the line to be drawn ? He maintained, that
M. Drank had morally engaged himself to support
opinions which were his own, and that he was per-
fectly justified in doing so."

On a division the numbers were for annulling
the return, 151 ; against it, 134. The Opposition
papers of all shades are outrageous against this deci-
sion of the Chamber. The Legitimatist France
designates it as an abuse of the right of majorities.
The Constitutionnel stigmatises it as one of the
gravest and most violent acts that has been committed
by the Parliament for the last fifteen years, and
it would say for the last thirty years, if the ex-
clusion of barium, had not been the first ex-
ample of that abuse of strength on the part of
the majority in arbitrarily attacking the minority. And
it sneeringly asks, " Does not M. GUJZOT know that
in his Cabinet he has himself taken from many can-

didates precise and positive pledges to vote for Minis-
ters on all Cabinet questions ? Does he not consider
the honour of those Deputies as pledged, precisely in
the same degree as the honour of M. DRAULT can
be ?" while the National concludes a furious tirade
against M. GUIZOT in these terms :

" The vote is a curious one! We saw some Conser-
vatives who had stood up in favour of M. Drault avoid
the ballot, whilst others of the number voted against
him; and as the balls became equal whippers-in were
dispatched to find a number of functionaries. The great
victory was then achieved. M. Drault was declare::
unworthy to sit in the Chamber, because he had pledged
himself in writing to vote for electoral reform; for the
reform of the laws of September; and to refuse flota-
tions! Scarcely was the result known when the Left,
with one voice, uttered cries Bravo, bravo.' Yes,
bravo! that is what must be repeated. They trust be
encouraged in this ruinous path; they now walk in it,
but they must be induced to run; they are impelled by
a vs,rtigo; let us not retain them! let us press au-1u
For w ard."

The Chamber, on Tuesday, elected its fourth Vice-
President. It will be recollected that M. D ELESSEET
the fourth Ministerial candidate, did not obtain an
absolute majority on Saturday, when the other three
Vice Fresidents were elected, and that therefore a
new scrutiny was ordered to be taken. On this oc-
casion M. DELESSERT was successful ; he obtained
147 votes out of 280, while M. BILLAULT, the candi-
date of the Opposition obtained but 86 ; M. VATOUT,
25 ; and M. DEBELLETME, a Vice-President of last
session, but who since the recess has been coquetting
with the Opposition, only 20 votes.
The following letter from Rome, dated August 21,
is published in the Semaphore de Marseilles :
" The Pope steadily pursues the accomplishment of
his work of regeneration in the midst of itnpecliments
every day raised against him by the enemies of progress.
The Jesuits become more and more uneasy, though
without cause, if they have only the interests of
Christianity in view. If, however, they aim at some-
thing else, they may with reason feel apprehensive.
Heaven, in giving to the Church an enlightened Pon-
tiff, appears to intend putting an end to intrigues which
cause such a serious prejudice to religion. At his last weekly
public audience, his Holiness heard the claims of forty-
eight persons. Those who had not brought with them
a written account of their grievances made a viva voce
statement, of which the Pope himself took notes. His
Holiness is occupied with the means of developing the
resources of the public wealth—resources which have
been hitherto allowed to lie dormant. For this purpose
chairs of physic and of mechanics, applied to arts
and industry, have just been founded at La
Sapienza; a chair of political economy is also
talked of. Piedmont has just given a noble example
to the other Italian states, by addressing to the Pope its
congratulations on the work of regeneration he has
undertaken. Amongst the prelates acting as provincial
governors, who actively concur in the system of
Pius IX., must be distinguished Monseignor Ricci, the
legate of Civita Vecchia, a son of the celebrated poet
Ricci, formerly pupil to the children of Murat. Eighty
individuals who were confined in the bagne at Civita
Vecchia, on mere suspicion of being connected with
political affairs, have been liberated through his active
solicitude. Cardinal Gizzi, not wishing that the generous
wish of his Sovereign should be imperfectly carried into
effect, has just addressed a circular to the authorities,
recommending them to practise kind treatment towards
the liberated political offenders, and in no case to allow
their past conduct to prejudice them in the honest life
they may now wish to follow.
The same paper contains advices from Oran of the
25th ult. The whole colony was in a state of pro-
found tranquillity, although ADD-EL- KADER was
still hovering abuut the frontier.

Accounts have been received in Paris of the death
of the Right Rev. Bishop LUSCOMBE, for many years
chaplain to the British Embassy at Paris. He died
suddenly at Lausanne on the 24th ult. of disease of
the heart. The death of the venerable prelate creates
a vacancy in the chaplaincy of the Embassy, which
is in the gift of the English Secretary of State for
Foreign Affairs.

The Gazette de France states that the Minister of
Finance has declared to several high commercial per-
sons that the conversion of the Five per Cents. and
Postage reform shall be amongst the earliest ques-
tions brought forward after the opening of the en-
suing session.

Circulars have been issued to all the prefects, to
forward to the Government all the information they
can procure as to the produce of the harvest, and the
state of the potato-crop.

The Three per Cents. closed on the Paris Bourse on
Tuesday at 83f. 75c. ; the Five per Cents., 121 f 55c. ; the
Orleans Railroad Shares, 1,275 f. ; Rouen, 965 f. ;
705 f. ; Great Northern, 713 f. 75c. ; Avignon, 920 E ;
Vierzon, 6301. ; Bordeaux, 575 f. ; Troyes and Montereau,
3621. 50c ; Paris and Strasburg, 496 f. 25c. ; Tours and
Nantes, 505 f. ; Paris and Lyons, 528 f. 75c. ; Lyons and
Avignon, 495 E; Bordeaux and Cette, 485 E; Belgian Two-
alio-a-Half per Cents., 56f. ; Spanish Actives, 33% ; ditto
Three per Cents., 36%.
MARSEILLES, Auo. 28.—Marseilles and Avignon, 917 f.
50c. ; Northern, 710 f. ; Paris and Lyons, 5251.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, SEPTEMBER 2.
Dutch Rhenish, 6% Grcat Indian Peninsular, % —ltalian and
Austrian, I%B—Luxembourg, 1% —Madras, Nellore, and Arcot, %
Madrid and Valentia, I—Northern of France Constituted, 13%
Orleans and Bordeaux. 8N —Paris and Lyons Constituted, 6—Tour-
nay, Jurbise, Landen, and Hasselt, 5.

THE MARRIAGE OF THE QUEEN

OF SPAIN.

We have received by extraordinary express a let-
ter from our Paris correspondent, from which we
make the following extract :

" PARIS, TUESDAY NIGIIT, SEPT. 1,
TEN O'CLOCK.
" Intelligence has reached Paris from Madrid of
an official and highly important character.
" It is decided that her Majesty Queen Isabella
shall marry her Majesty's cousin, the Duke de Cadiz
(eldest son of Don Francisco de Paula), and that the
Duke de Mont pensier, youngest son of King Louis
Philippe, shall marry her Majesty's sister, the Infanta
Maria Luisa E'ernanda.
" It is further settled that the Duke and Duchess
of Montpensier shall leave Spain immediately after
the marriage, and pass some time in France."—Timer

EXPR_ESS FROM PARIS.

SPAtLN AND PORTUGAL.
(From the Times.)

We have rflceived by extraordinary express from
Paris a letter from our correspondent in Madrid,
fully confirmiv g the intelligence we published this
morning.
We_ make ti le following extracts from our corre-
spondent's lette r

" MADRID, AUG. 28.

"If what X am now about to mention, and lam
assured of it te; v a person who has opportunities of
acquiring infori nation, and who is considered good
authority, be t rue, all further speculations on her
Majesty's man') 'age are at an end.

"It is said tl ) at the ceremony of the betrothing was
performed last light at the Palace, between the Queen
and the Infant Don Francisco d'Assis.
"I am also assured that it was done in the most
mysterious and surreptitious manner, and that not
more than four• or five persons were present.

"It is unnecessary to dwell on the importance of
this news. Th something out of the usual course
occurred at the Palace about eleven or twelve o'clock
last night there is little doubt.
"I have just learned that at two o'clock this morn-
ing the Mivii ter of Grace and Justice, M. Caneja
was summon Lei l out of his bed to a Council of Minis-
ters; at the g eme time several employes of the Minis-
terial office s were summoned, and in particular the
Keeper of t he Archives of the Department of Grace
and Justice.'

Three per C lents., 34i, cash ; Four per Cents., 22 ;
Five per Cent s , 22A ; Passives, 6i; Coupons, 20i.
LISBON, AUGBST 23.

The Govern tent have at last published the decree
prolonging
the I ;erm granted to the Bank and Con-
fianza Compa3.l3 for the suspension of payments. A
fresh delay ha 3 been granted for forty days from the
20th instant. .2-his measure was fully expected, and
caused no miff ert rice in the discount of Bank notes,
which continues, at about nine per cent.
The Poryphe rt us came in yesterday horn the
squadron, with -which almost daily communication is
maintained either b y steam or signal.
The Constance, -.Spartan, Raleigh, and Eurydice
frigates have joined the Admiral.

laisu RAILWAY CourAmits.—Mr. Labouchere
has stated that he we .uld entertain the grant of loans to
Irish railway comps, nies which bad obtained Acts of
Parliament .and the parliamentary deposits on which
had been bond fide pat I up, and continued in bank to the
credit of the comparkiel

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The Cotton Market at Liverpool yesterday was firm.
Sales 8,000 to 9,000 bales, including 2,500 on specula-
tion. I'ernam, 61d., Egyptian, 6d. to 7d., Bahia, 64d.,
Sea island, 11d. to 16d., and American 4d. to 6d. Shares
were dull.
Some alliusion has been made by one or more of our
Morning Contemporaries to the conduct of the Directors
of Vie Hudson's Bay Company in underselling purchasers
of gt eds their periodical sales. There is little doubt
but the Directors are to blame. We shall make in-
quiries, and report thereupon to-morrow.
The state of the Stock and Share Markets in New
York is anything but favourable. We are upon this
subject, thus advised :
" Many of these' quotations of Stock are merely nomi-
nal, in the absence of operations. There has recent])
been very little business done in State Stocks, or, in fact,
in any description of stock security, real or fancy.
Even the quotations for those in which transactions have
been made, are no indications of t heir actual value as invest-
ments, either temporary or permanent. The position of
public affairs, at present, is such as to preclude the pos-
sibility of obtainit.g prices for our really good and sound
stocks, near their actual value ; and su long as there
exists that uncertainty and doubt in relation to the
operation of those measures affecting our commercial
system, and our c xterna affairs continue in their pre-
sent state, we cannot hope for or expect any improve-
ment in prices, or in the demand for stocks for invest-
ment or for speculation.
" Considerable anxiety exists in relation to the course
the Government will pursue in regulating its own finan-
cial affairs. Several attempts were made, before Con-
gress adjourned, to compel the Secretary of the Trea-
sury to report whether any Treasury notes under the
new law, had been issued, and if there had been, to what
extent, and at what rate of interest. None of these at-
tempts were successful, and we are, therefore, without
any official information upon the subj, et. We
are, however, informed that the new ',sue of
Treasuey notes has taken place at the south•
west, and that an issue will be made here in
a few days It is possible, however, that the bulk
of the new issue will first appear at the south and west,
as these notes can be put into circulation upon more fa-
vourable terms to the Government— that is at a less rate
of interest—than at the north, where there is not so much
demand fur them. We have no doubt, however, but that
nearly the whole amount authorised will be issued at a
nominal rate of interest. Had the independent Treasury
Bill gone into operation at once, the new issue of Trea-
sury notes could have been made more easily, and at a
more reduced rate of interest, than they will be now, as
there would have been a demand for them to make pay-
ments to the Government, at different points, where they
would otherwise be required in specie. Even under ex-
isting circumstances, there is very little doubt but that
they will obtain a circulation. if they are not forced out,
by putting on a high rate of interest—as, in that case,
they would be sought after for permanent investment and
be locked up in the vaults of capitalists, where they
would remain until called in by the Government for final
redemption. If these notes are issued at a nominal rate of
interest, they will be continually going into and out of
the Treasury; they will be to the Government what
paper issues are to a bank, and will ebb and flow, so
that they will answer the purposes of a much larger
amount, if that amount was absorbed by capitalists and
salted down. An issue of ten millions of Treasury
notes, if issued for investment, upon proper principles,
would be paid in and taken out of the Treasury several
times in the course of a year, and would in this way be
equal to an issue of several times the amount, made in
such a manner as would make them desirable invest-
ments."
The Consol Market has been extremely steady to- day,
at 96i for the Account; for Money the current value is
96. 'The premium on Exchequer-bills remains at 18s.
to 21s. India Bonds are at 255. to 30s. Bank Stuck
has fluctuated from 2084 to 2091.
In the Foreign Stocks a very considerable amount of
business has been transacted this morning. Spanish
Five per Cents. have advanced to 271; the Three per
Cents. to 391; and the Dutch Two• and-a-Half per
Cents. have been quoted at 60.
In the Railway Share Market the transactions have
been rather considerable to-day.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Bank Stock
3 per Cent. Reduced Annuities 96%
3 per Cent. Consols Anns 96%4 96
3 per Cent. Annuities, 1726.....
New 31 per Cent. Annuities
Long Annuities Expire sth Jan. 1860 lO 7-16
Do. 30 Years, Expire Oct. 10, 1859 lOl%
India Stock 259
India Bonds 1,0001
Ditto under 1.0001
South Sea Stock
Ditto Old Annuities 96%
Ditto New Annuities
Consols for Account
Exchequer Bills. I%d. I%d.
500/.
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.

Buenos Ayres Bonds, 6 per Cent 43
Equador Bonds 31%
Granada, 1 per Cent. . . 2Ol/2
Ditto Deferreu

Mexican Bonds, 1846, 5 per Cent 261; lAN
Ditto for the Account
Portuguese 4 per Cents 46
Ditto for the Account . 46% % 46
Spanish Bonds, 5 per Cent, 1840..:
Ditto for the Account
Ditto Passive Bonds 6Ar 1/s
Ditto Deferred
Ditto 3 per Cent...
Ditto for the Account .39 38% 394 39
Venezuela Bonds, 2 per Cent 42
Ditto Deferred Stock 12%
Dividends on the above payable in London.
Dutch 2% per Cents
BUSINESS DONE IN RAILWAY SHARES AT ONE O'CLOCK.
RAILWATS. PAID. PER SHARE.
Aberdeen
_ ,

Amber., Notting., Boston, &c. 2%
Armagh, Coleraine, &Portrush 1% — to
Aylesbury and Thame l% to
Belfast and County Down .. 21/2 .. ..
Bideford and Tavistock ...... 1% — to
Birmingham and Gloucester..loo ......
Do. New (iss. at 7%, dis.).. 17%......
Birmingham & Oxford June... 2
Birkenhead, Lancashire, and
Cheshire Junction 234 — ..... to
Boston, Stamf, , & Birming... 225.
Bristol and Exeter . 75
Do., New
Bristol and G10uce5ter......... 30
Bristol and Liverpool June... 2% — to

Buckinghamshire..
Caledonian
Ditto, Half Shares
Ditto, Extension
Cambrian and Grand Junct.. 425.

Cambridge and Oxford
Central Kent 2lh ..... _
Chester and Holyhead... 27%
Churnet and Blythe 2 ..... 2% to
Chester and Manchester 42s.

Cheltenham and Oxford
Clydesdale Junction -
Cork, Blackrock, & Passages 22s

Cork and Killarney —
Cork and Waterford ll/2

Cornwall
Cornwall and Central Devon 2% — to
Derby and Crewe 2% to
Direct Lincoln, East Retford,
and Shutlitchi Junction.-- 2% to
Direct Manchester (Rem.)... 234 ...„
Ditto( Rastrick's)
Direct Northern
Direct Norwich 1
Dublin and Belfast Junction.. 10
Dublin, Belfast, & Coleraine 21/2 —
Dublin and Galway
Dundalk and Enniskillen ... 71/, •
Eastern Counties l4l. 16s — to
Do. New .

_ ...
Do. Perpet., 5 per et. No. 1,6/. 13s. 4d...
Do., do. N 0.2,61. 13s. 4d... 3/4 pto
Do , York Extension
East Dereham and Norwich 1
Eastern Union ... .. .. 35
Ditto, Quarter Shares By — ...... to .....
Do. Extension to llarwich 178 — ..... . to

Do. Cambridge and Ely ... 21/2- to
East Lancashire
East Lincolnshire l/417•••••• ;3/4 to
East and West of England... 1A — ...... to
Edinburgh and Glasgow SO
Ditto, Half Shares

Ditto, Quarter Shares l2l/2
Do. New Quarter Shares... 12
Edinburgh and Northern ... 10 ......

Edinburgh and Perth
-- • -

Ely and Huntingdon ..
• • ••

Enniskillen and Sligo ... 2',
Exeter, Yeovil, & Dorchester 5% — ...... to
Glasgow, Kilmarnock, & Ayr 50 -
Ditto, New -
_..

Do. 1A Shares (5 per ct. gua.) 121,/
Glouc., Aberystwith, and Len.
of Wales
Goole, Doncaster, Sheffid., &c. 425.
Grand Union (Nott. & Lynn) 1%
Great Eastern and W estern ... 2l/2

Great Grimsby and Sheffield 10
...... to
Gt. South. & West. (Ireland) 25
Great Munster
Great North of Scotland
—2

Great North of England 100 -......229
Ditto, New
15
Ditto, New
Ditto, New l%. . to
Great Western
Ditto, Half Shares .. 50

Ditto, Quarter Shares
Ditto, Fifths 2O
... .. to ---
Guildfd.,Farehm., &Portsmth. 5
Elarwich and E. C. Junction 2 .... .
__ . _

50 IO4IA ...... to
Hull and Selby
Ditto, Quarter Shares l2l/2 —
Dittu, Half Shares
...
Inverness and Elgin 2 ...
Ipswich & Bury St. Edmunds 9
Do. do. and Norwich
.....
to
Irish North Blidland
to
Isle of Axhulme
Killarney Junction ......... 4i — ...... to
Kendal and Windermere ..... 11/2„...„ ...... to
Lancastzr and Carlisle 45
Do. New 5 ......
'Larne, Belfast, & Ballymena 425....... ....
Leeds and Bradford
Leeds and Carlisle
Leicester and Birmingham... 225.
Leizester and Bedford 225....... % die. to
Leeds and Dewsbury
Leicester and Tamworth, &c. 42s IA die. to
Liverpool, Manchester, and
Newcastle Junction 2% to
Liverpool and Bury l4

..Jonan and Birming. Eaten. 1% — ...• to
London Ak Blackwall...l6/. 13s. 4d — to
Do. New
Do. Extension

London and Brighton ... 50
Do. Fifths BO -

London and Croydon...l3/. 15s. 9d — to
Do. Guaranteed 5 per Cent. 9 . .....
London and Greenwich.... 12/.155. 4d .
Ditto Preference
Londen, Ttiounslow, &Western 2 . ....
London and North Western..loo 2051/2 to
Do. Quarter Shares
Do. do. New ...... ...........
Do. do. Fifths
Do. Eighths G. J. 121/2 to
Do. New Quarters ...G. J. --
Do. 44. Shares.....L. &M. 6
London and S. Western.... 41/. 6s. 10d. 73 x d to 71 6..xd.

.
Do-New consolidatedBths_
40 —
Ditto New ....... 171/2..... 26% to
Do. New
cinder: and York... ..... ...... 21,4 2% VI.. to
Ditto Half Shares
London and Windsor ... Ig. — to
London; Salisbury, & Yeovil 21/2 ll/g to
Londcnderry and Coleraine... IDA,
Loridoz_deiTy and Enniskillen 12% to
Lynn tioa Ely
Lynn sad Dereham
NJ aneliester and Leeds B2 .....
Ditto Ralf Shares ...... - 38 ......
Ditto Quarters ...
Ditto Fifths
Ditto t.-3xteeriths ........... WI — to
Do. Extension
Manchester and Birmingham 40 — to
Ditto Quarters (A)
... .

Ditto Quarters

Ditto Quarters (0) - to •
Nianch._ Euxton, 84. Matlock 425.
11anchestet,Birmingliam,and

➢louldJunction - . to
Manchester and Southampton 2

Midland lOO .. ...140 to
Ditto Fifths
Ditto, New
Midland. Birm., and Derby...loo ... ..
Midland and Eastern Counties 25,
M idld. Great Western (Irish) 12Ih —
Ne'AeafAle & Darlington s.une. 25

Dittc: New
Newcastle and Berwick
Do. North Shields 25 ...... ... .. to
Newcastle and Carlisle lOO ......
Newport arid Abergavenny. . 21/2 —
Newry and Enniskillen ...... 41/ — ...... to
Newark, Sheffield, and Boston 1 %....~
Norfolk 2O
Do. Half Shares

Ditto Tenths
Ditto Extension
North British
"'Ditto Half Shares,
Ditto Fifths 5 ...
Do. Carlisle Extension l4 41.1%... to
North of Norfolk
Northern and Eastern SO
Ditto Scrip (iss. at 5 dis.)... 45
Ditto Quarter Shares
Ditto New ... 1
North Kent & Direct Dover 21/2 —
North Staffordshire 42s.
North Wales 3l/4 ....
North. & South. Connecting 2% to
Northampton, Banbury, and
Cheltenham
Nottingham and Mansfield... ..... ..
Oxford, Worcester, and Wol- _ . _

verhampton
Oxfd., Witney, & Cheltnham 1% —
Pilbrow Atmospheric -
Portsmouth I>irect
Preston and Wyre 25
Ditto, Half Shares
Readintr, Guildford, & Reigate 425.
Richmond
Rugby, Leamington, and
Warwick
Scottish Central
Ditto, New,
Scottish Midland ... ......... ... 10 -
Ditto, Extension -
Sheffield, Buxton, Leek Pot- _ .

teries, and Crewe
Sheffield and Manchester —IOO

Ditto 14 Shares 8
Slarewsbury and Birmingham 21/2...... 3 to 2%
Shropshire Union . 42s. ... .. 1/9 dis to par
Shrewt'•aury, Wolverhampton,
and S. Staffordsh. Junction 24..... 21/4 to
Sligo and Shannon l% .. .. to
South Devon 35 -
South Midland 42s. ... ..
South and Midlands Junction 425.......
South Staffordshire Junction 21/. ......
South Eastern and Dover ... 331/8 ......
Ditto, New, No. 1
Ditto, New, N 0.2
Ditto, New, No. 3
Ditto New, No. 4. ...... ...... 2% 3% to
St. Alban's, Hatfield, and _

Hertford Junction
Staines and Richmond 1 1 . •.. to
Staffordshire and Shropshire 2% — -
South Wales _ 5