The Sun.
London, England, 1846-05-15 00:00:00

the 54 40 men, awl the 49 men ; awl we doubt whether he
th, iA OPiil cc age inagaunfinity to rise above
such influences.

Mr. Haywood and his friends, on the one side, and General
Cass and his supporters on the other, are constantly visi•ing
the President. It is supposed by some that the " notice"
will be communicated to Mr. Pakenham—by others, that it
will be sent to Mr. M'Lane, to be by him presented to the
British Minister, coupled with an invitation to nego-
tiate. On the other hand, the President's " own 0-gall,"
calls and clamours for Congress to pass all the Oregon mea-
sures—measures for taking legal and military possession of
Oregon—es!ablishing mails, block• houses, forts, courts, and
general jurisdiction. The organ, however, does not specify,
how far north-49 or 54 40—these measures are to ope-
rate in the territory. We do not believe that any of these
measures can pass the Senate till the negotiation has been
closed.

We have rumours that a battle had taken place on the Rio
Grande, and that General Taylor had met with a reverse.
The departure of General Worth from the army has given
rise to rumours of dissensions in the American camp.
If General Taylor should be defeated, Mr. Polk and his
Administration would be execrated. A defeat of the Ame-
rican army on the Rio Grande would almost cause an imme-
diate and voluntary invasion of Mexico—thousards of the
Western riflemen would rush to the Rio Grande, and pro-
bably to Mexico. The interest for news is intense.
As to the financial and commercial measures before Con-
gress, nothing is certain—nothing definite. The adminis-
tration of Mr. Polk is reaching a crisis.

(Correspcndence of the Journal of Commerce.)
WASHINGTON, FRIDAY, APRIL 24.—The determination of
a large majority of the Senate that the Oregon question
shall, so far as we are concerned, be the subject of renewed
negotiation and fair compromise, cannot fail to influence the
future action of the President. There is very little fear that,
acting "at his discretion," he will act rashly, or forbear to
do whatever it may be proper to do. At all events, the notice
cannot be yielded by him for any other than peaceful pur-
poses. It carries on its face an invitation to negotiation and
to peace.

Should the President refuse to entertain any offer from
Great Britain, or to make any himself, it can do no possible
harm—for I can assure you that the Senate will not pass the
Jurisdiction Bill—or Oregon Bill, as some call it—until they
know the use made of the notice, and its effects. The whole
subject is still in their power.
I have doubted whether the President would make any
overture. Some think, that under these new circumstances,
the President would make no offer, nor invite one. I deem
the resolution itself an invitation to an overture from Great
Britahi, as well as a pledge, on our part, to meet it in the
most liberal and conciliatory spirit.
Should the British Government make an overture, the
President will certainly entertain it, at least so far as to take
the advice of the Senate upon it. I heartily concur with
The Uuion in the hope, " it is to be hoped now, that the two
countries will confer freely with each other" on this subject
Such a conference must lead to a speedy and amicable ar
rangement.

LATEST FROM THE ARMY OF OCCUPATION.— We have
been favoured with the following extract of a letter from an
officer of the U. S. army, which appears to contain one day
later intelligence from General Taylor's camp opposite
Matamoras, than the accounts from the New Orleans papers
published in another column. The latest dates from his camp
are there stated to be the 12th inst., whereas we are here
told that on the 13th the Mexicans " formally declared war."
Of course a declaration of war, properly so called,could not be
made by General Ampudia ; and perhaps nothing more is
meant than what is represented in the N. 0. accounts to have
occurred on the 12th. These accounts do not mention the
capture of Colonel Cross by the Mexicans. This letter also
states (which the New Orleans papers do not) that the ob-
ject of the steamer Colonel Harney in proceeding to Nor
Orleans, was to procure reinforcements.
Boazos DE SANTIAGO, APRIL 14.—8 y the date of my
letter you will see that we are in Mexico, or within a • few
miles of it, the main body of the U. S. army being encamped
28 miles above us, opposite the Matamoras. within 200 yards
of the walls, and we are expecting to have a fight every
hour. The Mexicans having formally declared war yester-
day, every man at this place is furnished with arms, and we
are expecting to be attacked here at the same time General
Taylor is attacked above, this being the depot for the whole
'upplies of the army. Colonel Cross, Deputy Quarter Master
General, having ridden a little too far out of the camp, Was
taken prisoner by the Mexicans, and is now in Matamoras.
Our array numbers about 3,000, the Mexicans 7,000,—large
odds, and I should not be surprised if we get licked. The
steamer Harney leaves here in the morning as an express to
Nest Orleans for reinforcements.

P.S. April 15.—The Mexicans have made a little move,,
but of no importance.
NEW YORK MONEY MARKET, APRIL 29.
The market is heavy to-day, and prices have fallen off a
fraction, compared with those current at yesterday's secolid
board. The news from Europe is not considered, in the
street as very favourable, and the Bears are operating ez.ten-
sively for a further decline in quotations.
Compared with the prices current at the first board ye stet,
day, Long Island shows an improvement of 1/2 per cent.;
Canton, ; Harlem, 34 ; Norwich and Worcester, 3/4 ; Mor-
ris Canal, la ; Farmers' Loan, s 4 ; Reading Railroad, L
At the second board a further improvement was realised,
in Harlem, of 34 per cent.; Canton, 1?2 ; Morris Car.al, 1/8.
There was a moderate inquiry for sterling exchange to-
day, and quotations ruled at 93/ a 10 per cent. premium. Al
extensive demand is anticipated to-morrow (Thursday), and
the rates will probably advance to a specie point.
The Bank of the state of Georgia has declared a semi-an-
nual dividend of three per cent., payable on demand.