The Sun.
London, England, 1846-10-26 00:00:00

MONEY and COMMERCIAL NEWS.
The Cotton Market at Liverpool on Saturday was
quiet. Sa?es, 4,000 bales, at previous rates. Shares
were scarcely so good as on Friday.
There are accounts of June 18 from Sydney, but they
furnish no particular news. The colony was progressing
quietly, and without any indication of reviving specula-
tion.

From the tenour of the American letters and papers,
per Great Western, it appears that the war with Mexico
will be prosecuted very vigorously, and that there is not
the slightest hope, even if Santa Anna solicits
peace, of the immense portion of his republic, now oc
cupied by the United States troops, being ever again
restored. As to effectual opposition, it is very justly
considered by experienced parties in the City, that un-
less the European powers interfere, there can be none,
and that the worst enemy of the American army will be
the climate and fatigue they must necessarily have and
endure.

There were active efforts making to ship extensive
supplies of grain, especially Indian corn, to the United
Kingdom, and this had materially enhanced freights,
though the chief speculation was in cotton, which had
been run up to what sober and reflecting persons appre-
hend, despite the continued reports of a short crop, will
prove far too high rates. At present the commerce of
America is in a tolerably healthy condition, but specula-
tion once/ in the ascendant again, a retardment of
consumption, with an eventual panic, must be the result.
The editor of the New York Herald, almost the only
one who speaks out upon this subject, no doubt truly
remarks :
" Throughout the whole season of 1843 and 1844 we
resisted the cry of short crops,' and by referring to our
files, it will be seen, that we stated during the fall of 1843,
repeatedly, that from information in our possession,
there was a strong probability that the crop would exceed
2,000,000 bales, and advised operators to be cautious,
and to base their calculations on that figure. The sequel
that year showed the folly of indulging in that cry, with
such a vast expanse of cotton grounds as are now under
cultivation." And he goes on to argue that this year
may prove a parallel, unless some parties prove wise in
time. As to the growers, they act wisely by selling as
fast as possible, and it will be the merchants who suffer
in the event of a reaction.
Respecting the commerce of New York we have the
following :
" We have no doubt but that the shipment of agricul-
tural products from this port to Great Britain, during
this month, will reach a very large amount. The
account which every steamer brings us of the defi-
ciency in the crops of that country, and of Europe
generally, will give a great impetus to exports, and
immense quantities of bread-stuffs will be forwarded,
both on domestic and foreign account, in anticipation of
high prices and an extensive demand. The markets of
the United Kingdom will be glutted with produce, and
we fear many speculators will be terribly disappointed in
their expectations."
Advices of October 5 from Montreal state that the
trading season was drawing to a close, and that the arri-
vals from England were anxiously expected.
The express in anticipation of the Overland Mail does
not bring any news of striking import, but the letters are
not yet come to hand. The state .of the money and mer-
cantile markets appears to have been more promising.
There is not so firm a market to-day for the Public
Securities, and the quotations may be called about /I per
cent. lower. The tenour of the American accounts has
had some effect. Consols have been marked 94i for
transfer to-morrow, and 94-4- to 95 for time. The New
Three-and-a-Quarter per Cents. are 95i -11. Exchequer.
bills have been marked 12s. to 15s. premium. Bank
Stock is steady, at 206.
The transactions in the Foreign Investments have
been of a most limited character. A bargain has been
effected in Portuguese Four per Cents. at 42 ; Mexican
Actives have been reduced to 22i and 221; Buenos Ayres
are marked 44; and Brazilian New, 85. Dutch Two-
and-a-Half per Cents. have been 59k.
Shares are rather leas in request. Caleeorian, how-
ever, are 221- 3-; Scottish Central 20,1- to 21,i; Scottish
Midland 104 to 12, and Aberdeen 15. Eastern
Counties are 21i to 21i; Brighton 60h- to 594;
London and North-Western 198 to 1991; South-
Western, 70 ; Midland, 137 to 137 A ; Newcastle and
Berwick, 264 ; North British, 344 io 351 ; York and
Newcastle (new), 16i to 174 ; Northern of France,
II s ; and Paris and Lyons, 51. North Stafford are
1- to 2 premium. Most of the latter, it will be seen, are
" the turn" lower.

ONE
PRICES OF BRITISH FUNDS. O'cLOCK.
Bank Stock
3 per Cent. RedUced Anns 93%3/4
3 per Cent. Consols Annuities 943/4,7(4
New 31/4 per Cent. Annuities 9512%
Long Annuities to expire Jan.lB6o
India Bonds, 1,0001
Ditto under 1,0001..
Consols for Nov. 26.... .......... 9478 95 95
Exchequer Bills, 1,0001., PAd l2 15 pm. 13
Ditto 500/.
Ditto Small

CLOSING
PRICES.
205