The Sun.
London, England, 1846-09-26 00:00:00

TEE SUN, LONDON, SATURDAY MORNING, SEPTEMBER 26, 1844.

111 E WEATHER.—SIIN OFFICE, SEPTEMBER 25.
HERHomETER, Lowest, 53; Highest. 66 Noon, 65.

BAROMETER, 29.83.—W1ND W., fine.

HIGH WATER AT LONDON-BRIDGE THIS DAY,
Morning .. 53 minutes after 4. I Evening .. 14 minutes after 5.

the Prime Minister, whose well-known courtesy and

amenity gave the surest guarantee that when once he
consented to receive the deputation there would be no
attempt to cut short or diminish the time necessary
for the full explanation of its objects. It gave that

Nobleman an opportunity of stating his own feelings
and opinions, of explaining the difficulties to be en-
countered in legislating for a country so circum-
stanced as Ireland, and elicited from his Lordship a
declaration that must be hailed with the greatest
delight by every philanthropist, by every well-wisher
of Ireland, viz.—that his Lordship did not shrink
from the necessity or duty of interfering even where
the waste lands were the property of individuals.

Neither did he deny that while property had its
owners and rights, that such ownership and rights
should not be allowed to interfere with the operations
intended to develop the resources of the soil and
improve the social condition of the people. This is
the great principle for which we have long been con-
tending, on the adoption of which great and gigantic
measures for the national regeneration, for the per-
manent welfare and happiness of our sister kingdom
must he based. The rights of property are to be
defended and respected as far as possible. Every
fair and legitimate encouragement must be afforded to
private speculation, conducted in a fair and Long fide
spirit, and employing a due quantity of the super-
abundant labour. In no case where the proprietor of
the soil is willing, and will undertake to prone, d
without delay in the improvement of his lands,
should he be interfered with, save so far as
may be necessary to ascertain that the money
has actually been expended in a fit and
proper manner, and granting every possible assist-
ance, by a loan of money proportioned to the amount
of his own outlay, and the quantity of land to be re-
claimed or improved. But where this is not the case,
where the owner positively and absolutely refuses to
avail himself of the opportunities afforded for the im
provement and cultivation of lands, which he and his
ancestors, or those through whom he derived his
title have suffered to lie idle and unproductive for cen-
turies, then we at once and unhesitatingly say, that
the public welfare, the common weal, demands that
he should no longer be permitted to retain the owner-
ship of lands, the duties incidental to which he is no
longer able or willing to perform. We would not
deprive him of any portion of his property without
giving him a full and ample equivalent for that
taken away from him. We would have it fairly
valued by a jury of his countrymen, by his neighbours,
men thoroughly acquainted with the value of land in
the vicinity, and the amount paid to him either by a
sum of money, when he had clearly established his
title thereto, or by a reserved rent-charge issuing
and payable out of the lands themselves, for the pay-
ment of which the amount that would be expended
thereon, and the greatly increased value of the lands
consequent on such expenditure, would afford the
most satisfactory guarantee. This principle, that
lands the property of private individuals are to be
taken, whenever required for public purposes, has
been so long acted on, that it now scarcely requires
an argument to satisfy us of its justice. We see it in
daily use, whenever lands or tenements are required
for laying out or making a road, opening new streets,
improving or beautifying cities, and in many other
instances which it would be tedious to specify. Nay,
that power of the compulsory purchase of property
at its fair value has frequently been dele-
gated by the State to private individuals,
associated together for the execution of some work
of magnitude advantageous to the public. Witness
the cases of railroads, canals, bridges, docks, &c., &c.
No new precedent will therefore be established in
taking these lands that are to be improved either into
the hands of State or of the persons by it authorised to
proceed with the undertakings. But we see many
objections to the course suggested by the Rev. Mr.
ConLisis in his singularly impressive and able state-
ment. He drew a fearful and harrowing picture of
the scenes witnessed by him in the discharge of his
onerous and important duties. A mother feeding
her fever-stricken child with her own suck, adminis-.
tered with a cup and spoon; a starving husband
and father going three miles to earn eightpence
for his day's labour, leaving his wife and
children prostrated under the same terrific
disease, unable themselves to stir or move, and
without one single human being to administer the
slightest relief, or even to moisten the parched lips
of the sufferers with one single drop of cold water.
The heart shudders, we stand aghast at the mere
consideration of such misery. What must be the sen-
sation of the lookers-on, of the wretched victims
themselves ? what of the unhappy father who saw his

infants perishing before his eyes, and was obliged to
desert them in their afflictions, to leave them without
that soothing kindness that might alleviate their
miserable condition ? When such scenes as these are
deposed to by a trustworthy eye-witness, it surely de-
mands that• the whole social condition of the country
should be closely reviewed and analyzed, and that we
should not be restricted by the maxims of legislation
growing out of a highly artificial state of society.
So far we agree with the reverend gentleman, but we
think that in place of the improvements being effected
by Government, without reference to the
wishes of the proprietor, and the amount
of expenditure made the first charge on the
land, such a course would be entirely new, and might
establish a precedent most dangerous to the rights of
property. Besides, for many years, the proprietor
during his own life, and perhaps that of his children,
might not receive anything out of the lands, the pro-
duce of which might be entirely required for the liqui-
dation of the public debt; but by the course we sug-
gest, he at once receives the fair present value of the
lands, and the State may be in a very short time reim-
bursed its outlay by the sale of the fee and inheritance
thereof, and have an opportunity of creating a class
of comfortable yeomanry and small landowners,
which may be productive of vast benefit to
the country. The interview was valuable
in another respect, viz., the marked assent given by
the Premier to the principle that the rule by which
the wages of a working man should be calculated is
what is necessary for the support of himself and
family, and the virtual abandonment by the
Chancellor of the Exchequer of the rule laid
down in the Treasury minute, that the wages given
at the relief works should in every case be 2d. per
day lower than the general wages of the district,
where such wages have already been reduced to the
lowest amount that can be considered sufficient to
keep life and soul together. Any further dimunition
must be wholly out of the question. The Right
Honourable Gentleman stated his opinion that wages
should be improved, and that the minute of the
Treasury was not the law, and might if necessary be
modified ha the respect alluded to.

Nothing can be more disheartening than the slow-
ness and apathy with which official bodies advance
towards the most substantial reforms. Evidence is
cumulated upon evidence ; interested and prejudiced
objection subsides into silence ; startling and cala-
mitous events, one after another, impress upon the
public the necessity of the change; but all these com-
bined are found powerless to stimulate into activity
official indifference. This observation is strikingly
verified in the history of that most important and
ingenious improvement in the structure of the anchor,
which has been repeatedly brought before the notice
of our readers by our reports of the results of nume-
rous trials of the anchor in question (PORTER's)
against those of the Admiralty in different dock-
yards, as well as at sea. The result of these trials,
ordered by the Lords Commissioners of the Admi-
ralty, is thus stated' in the official reports—viz.,
that the patent anchor is 172 per cent. stronger than
the Admiralty anchor, weight for weight, while in
holding power it has the advantage by 85 per cent.:
whether on soft mud, as in Drstsmouth harbour, or
on hard irrenzel, as Ryde sands, in both which situa-
tions the most careful trials have been instituted. In
addition to these demonstrated facts, the official re-
turns contain the reports of no less than thirty-five
officers of every rank and great practical experience
in the navy, in unqualified approbation and preference
of PORTER'S anchor, in every particular in which one
description of this instrument can surpass another.
Now, it is " estimated from authentic sources,"
says the Nautical Magazine for May, 1846, " that
the number of British vessels yearly destroyed by
shipwreck is six hundred, the value of property about
tux; millions and a half sterling, and the number of
lives about fifteen hundred and sixty." It nay be sup-
posed that them fa* taken in combination, together

with the positive statements of the ablest sea- faring
men, that the salvation of their ships and crews in the
most trying circumstances, and when their best Admi-
ralty anchors had broken, or otherwise failed them,
was solely attributable to their having a patent anchor
on board, would have led the Admiralty at once to
adopt them generally in her MAJESTY'S naval service.
Yet, strange to say, up to this hour, and with all the
accumulation of evidence contained in the official
reports in their possession, which now lie before us,
no decision whatever has been arrived at.

The degree of value attached to the preservation of
human life is no less a test of the advance of civilisa-
tion than a criterion of good and enlightened go-
vernment. Tet, while a deep degree of public in-
terest is taken in those institutions which (like the
Humane Society) contemplate the preservation of
individual lives—while a Committee of Inquiry
is granted for the examination of a question-
able invention, the sole purpose of which is rapid
and wholesale destruction—no such Committee
has ever been granted in the case of an inven-
tion which is adapted to the preservation of human
life, and of public and private property, to an incalcu-
lable extent, and in every quarter of the globe. We
trust that considerations of humanity no less than of
national policy will induce the present Government
to desert the course pursued by their predecessors,
"and to devote to this important subject a prompt and
impartial attention.

It is not in France alone that the principles of
free trade are making progress. In Belgium an
association has been formed in favour of commercial

liberty, of which M. CHARLES DE BROUCKERE, ex-
Minister of Finance, has accepted the presidency.
They have just published a manifesto, appealing to
all well-meaning men of every party to join them,
inasmuch as the object which they have in view is
without the pale that divides parties. The manifesto
concludes as follows :

"It has been said, and with great truth, that the
principle of commercial liberty is the principle of peace.
Now the principle of peace, partout et toujours, is the
sole immutable and eternal bases of our independence.
With peace, and the absolute freedom of international
relations the smallest nations may attain to the pleni-
tude of life of great empires ; they have no longer cause
to envy them."
Prince METTERNICH returned to Vienna on the
night of the 14th, and on the following day held a. con-
ference with such of the diplomatic corps as were then
in the capital. It was supposed to relate chiefly to
the affairs of Spain.

The Austrian Government has issued an ordon-
nanee declaring that every engine-driver on the rail-
roads of the State who shall have, for the space of one
year, performed his duties without having caused any
accident, shall be entitled to a reward of 100 florins
(260 f.), and that every engine-driver whose trains
have met with no "accident for ten consecutive years
shall receive 1,000 florins (2,6000 and a gold medal.

It is gratifying to find that the liberal policy of the
new POPE is already producing all the effects which
the friends of liberty and order had anticipated from
its adoption. The following is an extract from a
letter from Rome, dated the 12th instant :
"It may, without fear of exaggeration, be said that
the government of the new Pope has improved the morals
of the people of our capital. Since the publication of
the amnesty not a single crime against the person has
been committed in Rome, and yesterday, during the
fete of the Nativity, although the Corso was filled with
an immense crowd, during the whole day not the
least disturbance took place. It has been noticed on
more than one occasion that on quarrels arising in wine-
shops, it has been only necessary to remind the parties
that they are now living under the reign of Pius IX.
to immediately put an end to them. In the provinces, on
the contrary, deplorable excesses have been committed.
A few days since, at Jasi (in the Legation of Bologna),
a band of workmen threw stones at the windows of a
house in which the late Pope GregoryXVl. had stopped
one night while visiting that place, and dragged a bust of
that prelate through the streets with a cord round its neck.
The Austrian Consul at Jasi immediately sent a report
of this outrage to his Ambassador here, who in his turn
sent off a courier to Vienna, addressing at the same time
a note to the Cardinal Minister of Foreign Affairs, point-
ing out the necessity of immediately putting an end to
such revolting acts."

Count Ro;sr, the French Ambassador, is about to
quit Rome for Paris. He intends returning in No-
vember.

Madrid papers of the 18th have arrived. 'We find
in them an outline of the whole of the debate of the
17th in the Cortes, and part of that of the 18th, on
the marriage question. The following is the report
they give of the discussion :—" M. NOCEDAL made a
long speech against the marriage of the INFANTA
with the Duke DE MONTPENSIER, as did also M.
PACHECO, who said it was calculated to came serious
misunderstandings between France and England, and
he reminded the Cortes that it had been agreed for-
merly that the marriage should not take place
until the question of direct succession should be
settled by the birth of direct heirs to the throne. M.
DoNoso CORTES denied that there was any chance of a
rupture between England and France on this subject,
and said it was much better to marry the INFANTA to
a Prince who presented himself under the auspices of
liberty, than to one who should appear as the symbol
of conquest. The President of the Council of Ministers,
in allusion to the notes of Mr. BULWER, said he had
received one in which Mr. BULWER declared that the
marriage of the Duke DE MONTPENSIER would not
affect the friendly relations of the two Cabinets. M.
MON, in replying to M. PACHECO, said the Ministers
had, in the marriage affair, only obeyed the will of the
QUEEN, and they took upon themselves exclusively
tha responsibility of bringing the affair before the
Cortes. He asserted that the question was purely
Spanish, and not of a nature to lead to foreign inter-
vention ; on the contrary, he was, he said, sure that
it would give satisfaction to foreign Courts. M.
BRAVO MURILLO spoke strongly in favour of the mar-
riage, and said he did not understand how any
Deputy could, on this occasion, resist the will of
the QUEEN."

The President then read a " private proposition,"
signed by M. ORENSE, whereby the debate was not
to be closed as long as any Member inscribed should
wish to speak.
At the hour the post left M. ORENSE was proceed-
ing to move his proposition. No one, however,
doubted of the result, which has since been com-
municated by telegraph. Mr. BULWER was present
during the debate, and it was reported in the Cham-
ber that he had received orders from his Govern-
ment to protest in the most strong and ener-
getic terms against the MONTPENSIER match.
The Opposition papers have been again all
seised. The French Ambassador has announced that
the Due DE MONTPENSIER will not accept any flota-
tion that may be voted to the INFANTA. NARVAEZ,
according to the Heraldo, arrived at Vittoria on the
16th, and was hourly expected in Madrid. The
Progressistas appear to be increasing in energy,
courage, and force every day; upwards of 1,000 addi-
tional signatures have been appended to the petition
against the French alliance. The English squadron,
it is said, sail from Cadiz on the 16th. A. letter from
that city, dated September 18, says :
" Yesterday, Vice-Admiral Parker, accompanied by
the Commodore and all the Captains of the English
squadron in the bay, paid a visit to our General Com-
mandant. In the evening most of the officers of the
squadron went to the theatre to see the opera of Hernani.
Between two of the acts the General Commandant
caused a splendid collation to be served to the officers,
and to which he had invited the political chiefs, the first
alcalde, and several generals. This day, at one o'clock,
the General Commandant visited Vice-Admiral Parker
on board the flag• ship, and partook of a breakfast which
had been provided. The greatest cordiality reigned be-
ftween the British and Spanish officers who were present.
The Admiral gave as a toast The Queen of Spain ; and
may her marriage be a source of happiness to herself
and the nation.' The General Commandant proposed
'The Queen of England ;' and in a speech which he
made on the occasion expressed a hope that, if there
should be a war, Englishmen and Spaniards wou!d be
fighting cn the same side."

If 7 proof were wanting of the state of public
feeling in Spain, it would be furnished by this speech
of the General Commandant, which is most important,
as showing the feeling of the army.
General MARoTo sailed for the Havannah from
Cadiz on the 11th.
MADRID BoLSA, SEPT. 18.—The Three per Cents.
were done at 34 for cash ; the Four per Cents. at
22 ; the Five per Cents. at 22i ; the Passives at 6i;
and the Coupons at 20i.

We have received the Paris papers of Wednesday.
T 6. Pr6,sse has the following, which may be deemed
the official account of the settlement of the Tahiti
queition:—
" Some journals persist in repeating, that the Govern-
men, intends to abandon the four Sociuty Wands—
nualitue, Borabora, Itaiatea, and Maupiti; but we are
able to give details cal the subject, which cannot leave

any doubt on the most evil-disposed minds. When Ad- I
miral Thuuars established the Protectorate of

Tahiti, he stipulated by that treaty that the island
of Tahiti and its dependencies should he under the pro-
tection
of the French flag. The islands connected with
Tahiti, which are dependencies of the sovereignty of
Queen Pornare, were consequently assimilated to the
island itself. The notes exchanged between the Govern-
ments of England and France since 1843, prove that the
French Ministry intended to limit the Protectorate, and ,
not to extend it. to the Society Islands, over which not
only the souverainte, but the suzerainte of the Queen of
Tahiti, remained doubtful. This restriction applied
more forcibly to a group of four islands, situated
forty five or fifty leagues from Tahiti, viz., Iluuhine,
Borabora, Raiatea, and Maupiti. These islands, which
are under a sufficiently regular Government, living
under the rule of chiefs, who are said to acknowledge the
honorary supremacy of Queen Pumare, were to remain
completely independent. This is the clear result of a
declaration addressed to the English Government by the
Minister of Foreign Affairs of France, who knew posi-
tively that it was impossible to establish the supremacy,
whether real or merely honorific, of the Tahitian Go-
vernment over this group of four islands. During these
negotiations, which terminated in a perfect concord
between the French and English Cabinet, the Governor
of the French possessions in (eania, resting upon
the opinion generally diffused in the Archipelago
that the islands of lluahine, Borabora, Ilaiatea, and Mau-
, phi were subject to the Queen of had sent an
expedition to plant upon them the flag of the Protecto-
rate. Our troops were repulsed. Our Government has
already wade Captain Bruat acquainted with the ar-
rangements made with the English Government. In this
affair, therefore, there is neither evacuation of terri-
tory, nor concession of any kind to any one; the Minis-
try having from the very first entertained openly the
intention of limiting the Protectorate of France. It
decided wisely not to extend it to these islands, and
with the greater reason, as the said islands are not even
acknowledged to form patt of the possessions of the
Queen of Tahiti. Moreover, in order to guarantee itself
from all dangerous neighbourhood in future, the French
Ministry has declared that these islands, being acknow-
ledged to be free and independent, could never be pos-
sessed nor protected by any European power. England
has acceded to this declaration, the justice of which it
could not but admit. To put an end to all reports, we
will add that the Government has not received any offi-
cial dispatches from Governor Bruat since those of the
14th of April last, and that the last private letters that
have been received were dated April 15."

The protest of the Infante Don ENRIQUE is also.
the subject of comment in the Presse, which in its
observations by implication repudiates the treaty of
Utrecht. On the same subject La France, the
Legitirnatist organ, says :
The protest of the Infante Don Henry gives a new
face to the Spanish question. The Infante certainly
has not acted alone in the energetic demonstration
which he has just made; it is the manifest work of
an entire party, of which this youno. Prince has for
a long time been either the head, the patron, or
the instrument,. He consequently enters into the con-
flict recently raised by the Montpensier marriage, as a
powerful symbol, or even perhaps as a standard, around
which the Progressista party will not be long in ranging
' themselves. Exiled from his country by the Camarllla
—treated in some measure as a conspirator—he has no
ceremony to observe towards the Government by whom
he has been so harshly expelled. Will he dare to go to
extremes?—to return to his native country, and place
himself at the head of any movement which may take
place? We will not prognosticate such a thing; but it
is very certain that, in the present state of the public
mind in Spain, such a demonstration would not be long
in rallying numerous partisans around it. The protest of
Don Henry has nothing hostile as far as regards the
marriage of his brother with the eldest daughter of Fer-
dinand VII. Skilful enough to dissemble his personal
discontent, he even affects to offer the betrothed pair his
best wishes. It is only the Montpensier union which
the author of the protest attacks with all his strength.
This marriage appears to him insulting to the dignity of
Spain, injurious to her independence, and contrary to
her constitution ; and this three-fold pretext serves him
perfectly well for keeping up the deep antipathy which
has just been raised against France in the minds of
the great majority of the Spanish people. There is
in the protest one passage in particular which can
escape no one's notice ; it is that where the Prince
frankly relates the different details of his journey to
Paris, and the dispositions which he thought were mani-
fested at that time at the Tuileries. This revelation is
an aggravation skilfully added to the great complaints
which the Spanish people already had against France
and her Government."

The. Constitutionnel says that the Duc DE MONT-.
PENSIER " will leave Paris for Madrid on Saturday,
the 26th inst. The PRINCE will be accompanied by
an aide-de-camp of the KING, General ATHALIN,
by his own aide-de-camp, Colonel TIIIERRY, several
other officers, and his private secretary. His Royal
Highness will proceed directly to Tours by the rail-
road, sleep that night at Angouleme, arrive on the
27th at Bordeaux, and depart for Bayonne on the
28th. The PRINCE will remain one day in this last-
mentioned town, and repair from thence to Madrid
by easy journeys. The Ambassador of France,
Count BRESSON, and two Grandees of Spain, with
an escort of honour, will receive the PRINCE at
Irun."

In the same journal we find the following :-
" Amongst the rumours which were current yesterday
at the Bourse, and which tended to revive the funds, the
most accredited was the announcement of the approach-
ing departure for London of the Duke de Broglie. It
was said that he was present on Monday at the Council
of Ministers summoned by his Majesty, and that he is
to leave this day for London, with an autograph letter
from the King of the French to the Queen of England,
containing a formal renunciation in the name of the
Duke de Montpensier. This declaration has been con-
sidered as of a nature to put an end to all the difficulties
that have taken place between France and England. It
was added that the Duke de Montpensier is to renew
this declaration officially and publicly at Madrid."
Galignani's Messenger, in observing upon this
paragraph, says that the Due DE BROGLIE was not
present at the council; and that, so far from setting
out for England, he has left Paris for one of his
estates in France.
The National publishes a letter from Catalonia,
which represents the whole province as ripe for in-
surrection.
The Ulloa and Darien steamers have been ordered
to be prepared as packets to run between Cherbourg
and New York. Four companies of Marines stationed
at Cherbourg have been ordered to Guadaloupe, to re-
inforce the garrison of that island.
It was reported on the Paris Bourse on Wednes-
day, that the Count DE MONTEMoLIN had safely
reached Navarre, where he had been joined by ELIo,
EGUIA, EL RAYO, and VILLAREAL, and that CABRERA
had sailed from Southampton. The fall which took
place in the funds towards the close of business was
caused by those rumours, aided, however, by large
sales made by German houses, and by the hostile
articles contained in some of the London journals of
Tuesday, which had been received by express. Our
correspondent adds, that after business closed on the
Bourse the Three per Cents. fell to 83f. 12&c.
The Three per Cents. closed on the Paris Bourse on
Wednesday at 831. 25c. • the Five per Cents., 118 f. 40c.;
the Orleans Railroad Shares, 1,275 f. ; Rouen, 9561. 25c. ;
Havre, 726 f. 25c.; Great Northern, 7271. 50c.; Avignon,
927 f. 50c. ; Vierzon, 6301. ; Bordeaux, 568 f. 75c. ; Boulogne,
485 f.; Troyes and Montereau' 3701.; Basle, 230 E; Dieppe,
3851. ; Paris and Strasburg, 503 f. 75c.; Tours and Nantes,
511 f. 25c.; Paris and Lyons, 527 f. 50c.; Lyons and Avignon,
492 f. 50c.; Bordeaux and Cette, 482 f. 50c.; Spanish Three
per Cents., 361 ; Ditto Domestic Debt, 33%.
LYONS, SEPT. 21.-Avignon and ,Marseilles, 942 f. 50c.;
Northern, 733 f. 75c. ; Paris and Lyons, 5311. c.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, SEPTEMBER 24.
Boulogne and Amiens, I4N-Dlrect Bombay and Madras, %-
Dutch Rhenish, 5-Italian and Austrian, 2!5-Luxembourg,
Namur and Liege, I% -Northern of France Constituted, 1314 -
Orleans and Bordeaux, 854-Paris and Rouen, 37%-Tours and
Mantes Constituted, 5-West Flanders, 31/4.

MONEY and COMMERCIAL NEWS

(From The Sun of Last Night.)

The Cotton Market at Liverpool yesterday was fully
supported. Sales, 10,000 bales. Shares were dull again.
Some particulars of very general interest, especially
to the readers of a " City Article," are contained in a
work upon Practical Arithmetic, by Mr. A. Nesbitt
Upon the subject of the Funds the author is much
better informed than most parties uncon-
nected with the Stock Exchange, while he is
on that account also, the inure impartial. H
states:—" The business of speculation in stock is founded
on the variation in the price of stock; and which varia-
tion it probably tends in some measure to support. It
consists in buying and selling stock according to the
views entertained by those who engage in this business,
relating to Ile probability of the value of the stock rising
or falling before the arrival of some future period. This
business is partly conducted by persons of considerable
property in the Funds, with a view of making gain; but
a practice also prevails, among those who have no such
property, of contracting for the sale of stock on a
future day, at a price agreed on by the tr.rticz.,. For
example, A may agree to sell to B 1,000/. of stock, in
the Three per Cent. Consols, to be transferred in twenty
days, for 960/.; and this would be at the rate of 96/.
per cent. A has, in fact, no such stock ; but if the
price on the day appointed for the transfer, should be
only 941. per cent., he may purchase as much stock for
9401. as will enable him to fulfil his contract, and thus
he would gain 20/. by the transaction. If, on the other
hand, the price of that stock shot& rise to 981. per
cent., then he would lose 201. by his specula-
tion. The business, however, is generally settled
without any money purchase, or transfer of stock,
by A paying to B, or receiving from him
the difference between the price of stock on the day of
settlement, slid the price agreed on by the speculators.
" All the business, however, which is done in the
stocks for time' is not of a gambling nature. In a
country of such extensive commerce as England, and
especially in London, many opulent merchants,
who possess property ie the Funds, and are unwil-
ling to part with it, have frequently occasion to
raise money for a *hurt time to meet some unexpected
exigency. In such cases their resource is, to sell for
money, and buy for account ; and although the money

raised in this manner may cost a little more than the
usual interest, yet it affords an important accommoda-
tion ; and the transaction may be rendered strictly legal,
and the stock, or its value, become r coverable, by duo
course of law."
At a late hour yesterday, the Corr rnissi.alers of the
Admiralty decided upon tenders sent in fur the supply of
salfrd beef and pork for the use of the navy. The
quantities required were unusually large—say 12,000
tierces of beef, and 18.000 tierces of pork. Ail the latter
was taken, but only 8 000 tierces of the former. The
b. of is to be delivered at 71. is., and the pork at 71. 13s.
per tierce. We have received the following' note
relative to the contract from an experienced firm. The
remarks are important at this period when the prices of
provisions are so high:—
" The contract for beef and pork was only taken in
part by the Government yesterday, the prices for both
' articles being considerably higher than last year,
which confirms us in the opinion that additional chan-
nels must be opened for the Government to obtain their
supplies, or submit to must exorbitant rates."
The state of the Corn Market to-day is most satis-
factory to the farmers—not so for the millions. Prices of
wheat are up 2s. per quarter, notwithstanding the supply
is most abundant. The purchases were freely made.
Consols for Money and the Account are a shade
lower to-day. A sac o the former hes been made at
95.4, and of the latter at 9513-. The premium on Exche.
quer-bi'ls continues at I Is. to 14s.
Mexican Bonds are at 25 to Portuguese are flat at
401; Spani-h are at 26:11 i; the Three per Cents. at
371; the Dutch Two-and-a-Half per Cents. at 594-
and the Four per Cents. at 95. Tile Chilian Six per
Cent. Bonds have realized 101.
ItailwAy Shares have not been de%lt much in to-day.

The sale of railway shares this day, at Messrs. Larnon,i
and Co.'s, was well attended, and prices generally were
well supported. A large business was dune in the
Indian lines. The following are a few .of the principal

sales .--
Great North of India £0 5 6
Great Southern of Madras
East Indian
Madras, Nellore, and Arcot 0 7 6
Great Western of Bengal 0 7 6
Northern and Southern Connecting
Manchester and Southampton
Italian and Austrian
Goole and Doncaster 1 10 0
Grand Union
Leicester and Bedford
Cornwall and Devon Central
Reading and Reigate 0 16 0
Direct Northern 1 13 6
Churnet and Blythe
Paris and Rouen
Reading, Guildford, and Reigate 0 16 0
Boston, Stamford, and Birmingham
Namur and Leige
CLOSING
FRICEs.

ONE
PRICES OF BRITISH FUNDS. O'CLOCK.
3 per Cent. Consols Annuities 95%1,42
Long Annuities to expire Jan.lB6o
Ditto 30 years, Jan. 5, 1860 lO 1-16
South Sea Stock
Ditto New Annuities
Consols for Account... 95% I, 95%
Exchequer Bills, 1,0001., I%d.
Ditto 5001.
Ditto Small

10 1-16

OXE CLOSING
PRICES OF FOREIGN FUNDS. O'CLOCK PRICES
Chilian Bonds 6 per Cent.... - lOl 101
Danish Bonds, 1825, 3 per Cent BB% 881%2
Ecuador Bonds
Mexican, 5 per Cent. 1846 --
Ditto. Account ..... ... .....
Portuguese Bonds, 4 per Cent .. 40
401 A
Spanish 5 per Cent. 1840.
Ditto, Account 261/2 264
Ditto. 3 per Cent —
Ditto, Account ...... .......-
Dividends on the above payable in London.
Belgian 4% per Cent ...... 974
Dutch, 2% per Cent .
Ditto. 4 per Cent. Certificates 941 as 95

PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES AT ONI6 O'CLOCK. PRICES.
Aberdeen
Amber., Nott., Boston,
and Eastern Junction 2%.. ... 2% 2M
Armagh, Coleraine, and
Portrush 1%.•.•••
Aylesbury and Thame.. 1% '-
Belfast & County Down 2% .
Birmin. and Gloucester. 100 -
Ditto New 17% .... ..- ..... -
Birmingham and Ox.-
ford Junction
Birkenbead, Lancashire,
and Cheshire June.... 23/4 —
Boston, Stamfd, & Birm. 225. — ..
Bristol and Exeter 75
Ditto, New
Bristol and Gloucester... 30 ...... —..-...
Bristol and Liver. June . 2%......
Buckinghamshire
Caledonian

•.
1%..• ..... •••••

Ditto Half Shares...... 2%
Ditto Extension ... .. 2%
Cambrian & Grand Janc 42s
Cambridge and Oxford.. 1%•••••• 134
Central Kent ...... . ........ 2% —
Chester and Holyhead... 27% 241% ............ ..
Churnet and Blythe
Chester and Manchester 425.
Cheltenham and Oxford 2 —
Clydesdale Junction ..... 15
Cork, Blackrock, and
Passages
Cork and Killarney ... 2%
Cork and Waterford ... 1% —
Cornwall
Ditto, Half Shares ... 2'., ......
Cornwall & Cent'lDevon 2%
1 ierby and Crewe ..... .... 2%
Direct Lincoln, East Ret-
ford, and Sherd. J enc. 2% —
Direct Manchester
( Remington's)
Ditto (Itastrick's) SA ...... .. ...
Direct N:irthern
Direct Norwich
Dublin and BelfastJunc. 10
Dublin, Belfast, and
Coleraine
Dublip and Galway..... 4
Dundalk & Enniskillen 71,4
Eastern Counties 141. 16s. 21%1,4
Ditto New lOl. 16s.
Ditto Perpetual, 5 per
Cent, No. 1. 6/. 13s. 4d —
Ditto ditto. No. 2... 6/. 13s. 4d.
Do., York Extension.. 10s. .• 2 1%
EastDereh'm andNoech 1
Eastern Union ............ 35 .. ... •
Ditto, Quarter Shares 8% —
Do. Exten.(llarwich) 1 7/8 —
Do., Camb. and Ely.. 2%.....,
East Lancashire
East Lincolnshire ...... 114......
Eazt. & West of England 1X... . . .
Edinburah and Glasgow 50 ...... 72
Ditto Half Shares ... 10
Ditto, Quarter Shares 12% ......
Edinburgh & Northern.. 12% — . .... ...
Edinburgh and Perth... 3
Ely and Huntingdon ... 7%
Enniskillen and Sligo ... 2%
Ex eter, Yeovil, & Dorset 514
Glasgow, Kilniar.,&Ayr 50 ...,,, ...
Ditto, New ......... .. 15
Do., 1A Shares (5 per
cent. guar.)
Glouc.,Abei ystviith, and
Central of Wales 1%......
-
Goole, Doncaster, kc. .. 425.
Grand Union (Notting-
and Lynn ... ............ 1% -
Great Eastern &Western 2% — .. ...... ... ..
GreatGrimsby and 5hef-
............. ~..... 10
field
Great South. and West.
(Ireland) ............... 27% , 31%
Great Munster 2% ......
Great North of Scotland 2%......
Great Northof England..loo
Ditto New 5 —
Ditto, New .
Ditto, New
Great Western B5 l3B
Ditto 4 Shares ...... ... 50
Ditto 4 Shares lO
Ditto Fifths
Ditto, New •••
Guildford, Fare'm, Ports. 5 ..... ...
Harwich and Eastern
Counties Junction ... 2 ..- . .
Uull and Selby 5O 105%
Ditto 1% Shares
Do. Half Shares
I -ich & Bury St. Edm. 11% - ... .•••••
...

Do., do, and Norwich
Irish North Midland ... 1% —
Killarney Junctions ll%
Kendal and Windermere 11, -
.L'incaster and Carlisle... 45
Do. New
Lame, Beitaist, and Bal-
lrmena
Leeds and Bradford 26
Leeds and Carlisle
Leicester & Birmingham 225....... ......
Leicester and Bedbrd 22s. ...... dis.
Leeds and Dewsbury
Leicester and Tam w., &c. 425.
Lpool., Mochstr, & New-
castle Junction
Liverpoo: and Bury ... 14 ..
London and Blackwall. 16/. 13>. 4/1. 8
Do New
Ditto Extension 5
L Brighton 5O .. 5941%
Ditto, Fiftks ...
Loudon and Croydon, 13/. 15s. 9d. 21%....
Guaran. 5 per cent. 9
London and Greenwich 12115 s 4d —
Do. Preference ...18117s 2d —
London, Hounslow, and
Western . -

GO

,201 200 %

Lyndon and N. Westernl-
Do. Quarters
Do., Go., New Shares.. 2 • 1"; 18zt,
Ditto Fifths ..... .... 2
Ditto, Eighths (G. J.) 12% —;•
Do., New IA Shares
(G. J.)
Do 40/. Sha res (L.M. ) 8 —
Lend. & S.Western 41/ 6i 10d 70% 69142 ....
Do. New Consol. Bths 40
Do. New
Do. New
Londou and York 21%• 2 '
Do. % Shares
Li radon and Windsor . 13K..•
Lowdon, Salisbury, arid
.... ,

Yeovi! -
Londonderry & Co. leraino 12%. .....
I.e. R.ionderry and Ennis-
n
kille
Lynn and Ely
Lynn and Dereharn
Manchester and Leeds... 82 llO 1081/2
Ditto I,:, Share%
Do. ‘,.!tiarters -.!.
Do. Fifths .. ... ...... .„ 3 . .... 94 ..
Do. Sixteenth* ..... ... 6,4 —
Do. Extension 425..,.... --•

. -
- ..
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