The Sun.
London, England, 1848-10-12 00:00:00

OVieningrni

be remembered especially that the encomiums pro- •
nounced upon Sir C. NAPIER by the Noble Chairman
were very different from those wretched compliments
which are lavished upon each other by the ordinary
class of after-dinner orators—those parasitical com-
pliments which are the prolific exudations of egotism
—they were meeds of praise won at the point of the
bayonet and at the muzzle of the carronade ; they
were guerdons of applause purchased by a strong hand,
and a gallant heart, and a vigilant and capacious in-
tellect ; they were the expressions of an approbation
justified by the glorious victories of Meeanee and Hy-
derabad, extorted by the sudden expulsion of the
Ameers, and by the rapid occupation of Sinde, and
enhanced in enthusiasm by the brilliant adminis-
tration of the great country lying between
the frontiers of Ajmeer and Beloochistan, be-
tween the southern boundaries of Gundava and the
alternate swamps and deserts which lie to the north-
ward of the province of Choorwangur. It was well
observed by the Earl of ELLEDIBOROUGH, that Sir
CHARLES NAPIER might have been received with ac-
clamations in remembrance of his brilliant successes
at the head of his regiment throughout the memor-
able campaigns of the Peninsula, and also in remem-
brance of his distinguished course when the govern-
ment of the lonian Islands was subsequently en-
trusted to his authority. But, honourable and meri-
torious as the conduct of the gallant officer had been
in these the initiatory acts of his military and admi-
nistrative career, they will occupy but a subordi-
nate position in his biography, when contrasted with
the splendid triumphs achieved by him on the classic
banks of the Indus, when, after marching his army
through the desert, he routed the Miners upon the
mountains, and, while he enriched the Asiatic pos-
sessions of Great Britain by the acquisition of a mag-
nificent dominion, he rewarded the fidelity of an im-
portant ally in the person of the Nawaub of BRA-
WIILPOOIt. Victories such as these, which produced
so many extraordinary results—victories second to
none of those which have shed lustre on our arms in
Hindostan, from Plessey to Sobraon—have entitled
the Conqueror of Sinde to the admiration of his
fellow-countrymen ; while the manner in which
the Administrator of Sinde accompanied the
exercise of an almost unlimited authority
with the exercise of " justice—justice—justice," have
entitled him in a very particular manner to the respect
and gratitude of posterity—respect for power so em-
ployed, gratitude for the addition of glory which his
probity has cast upon the national character. Fifty-
four years service in the British army have been well
compensated by considerations such as these, by the
sanction of an approving conscience, and by the
plaudits of those who have no inducements whatever
to degenerate into flatterers. Whatever may be
the grievances resulting from the misrepresenta-
tions of his assailants, Sir CHARLES NAPIER must
have derived some small solace from the
affection with which his deeds and his very
name have been remembered in his native
land, and by the friendship of the illustrious noble-
man who filled the office of Governor-General during
the time the conquest of Sinde was effected. It
is a barren consolation to remind any distinguished
man, that if his contemporaries are ungrateful, pos-
terity will evince impartiality. We would not give
this consolation to Sir CHARLES NAPIER ; we would,
on the contrary, assure him that posterity will not
more fully appreciate his glorious career than a very
large and reflective, and not altogether uninfluential,
portion of his immediate contemporaries.

patriotic self-devotion, with which he was satisfied to
sacrifice even life itself for what he believed to be the
benefit of his country.
We do not in the slightest degree attempt
or desire to justify the course which Mr. O'BRIEN
has pursued. From the moment that Mr. O'BRIEN
became the advocate of physical force— that he aban-
doned the moral force doctrines under and by which
so many triumphant victories were obtained—he had
no more strenuous or uncompromising opponent than
ourselves ; but our conscientious opposition never led
us to ascribe improper or paltry:motives; on the con-
trary, we ever believed him to be a perfectly honest
and consistent, although a most mistaken, politician.
The manner in which the Lor44Thief Justice pro-
nounced sentence upon the prisoner encourages the
hope that the Judges will support the unanimous re-
commendation of the jury. Whenever there
is any doubt as to the result—whenever there
is reason to suppose that the extreme penalty of the
law may be enforced, it is the invariable rule to warn
the convict against indulging in any fallacious hopes
that cannot be realised. This is more especially the
case when the jurors have accompanied their verdict
by the expression of their opinion that the life of the
prisoner should be spared. We cannot recal to our
recollection a single instance in modern times, in
which a party was executed without such a warning
and;intimation being conveyed along with the sen-
tence. The Lord Chief Justice was, however, silent
on this point. He stated that the recommendation
would be forwarded to the LORD•LIEUTENANT, to
whom exclusively belonged the power of complying
therewith; but he did not add, that the Judges
could not coincide in the recommendation, or support
it by their approval. This, then, as we have already
stated, affords the strongest indication as to the ulti-
mate fate of the prisoner.
We have already repeatedly advanced reasons, both
on public and private grounds, why the extreme
penalty should be remitted. We pointed out the
impolicy of exasperating the Irish mind, of converting
the unfortunate gentleman into a popular idol, whose
follies and imperfections would be forgotten, who
would be regarded as a martyred patriot, a hero, whose
memory would be enshrined and his name conse-
crated in the wild melodies of his country. If he be
spared, in a brief period his history will be forgotten,
and he will speedily sink into oblivion; but, other-
wise, new opponents of the British power will spring
from his ashes. The scaffold, watered with his blood,
will constitute a soil from whence a goodly crop of
treason may be looked for.
There is one :point, however, to which we briefly
alluded on Tuesday, to which we may return, and
offer a few additional observations. We then stated
" that if the extreme penalty was carried into execu-
tion it might be asserted, with truth, that the same
protection and justice is not afforded to the Irish
people that may be claimed by every British citizen ;
that the sufferer would be regarded as the victim of
partial and unequal laws, and a new and powerful
argument would be given to all classes of Repealers,
viz., that the fundamental provisions of the Act of
Union had been violated, and set aside, and that in a
point involving the life and property of an Irish gen-
tleman, many years the representative of an important
constituency in the Imperial Parliament." The Sixth
Article of the Treaty of Union—the sacred compact
entered into by two independent nations, and to the
due observance of which the stational faith, the
national honour, the very oath of the SOVEREIGN,
were solemnly pledged —is to the effect :
" That his MAJESTY'S subjects of Great Britain'
and Ireland shall from and after the first day of
January, 1801, be entitled to the same privileges, and
be on the same footing in every respect as to all rights
and advantages both at home and abroad." We are
aware that it has been suggested that this article is
lin-iited to trade, navigation, and foreign treaties, but
we confess that the interpretation which an eminent
member of the Irish bar, Mr. HERCULES ELLIS, has
placed thereon appears more reasonable. That
Learned Gentleman maintained "that the first section
of the sixth article contained four paragraphs which
are indeed four distinct covenants entered into between
Great Britain and Ireland—four of those terms and
conditions upon which Ireland consented to be united
to Great Britain. The first paragraph covenanted
that from and after the Ist January, 1801, his MA-
JESTY'S subjects of Great Britain and Ireland shall
enjoy the same privileges." Surely this is plain and
distinct, and it is also a very probable demand, one
that would certainly be made by a nation about to
surrender its independent existence and to be amalga-
mated in every respec t with another. It is scarcely
probable that the Irish Legislature would make such
stringent stipulations as to encouragement and bounties
on the same articles as to trade and commerce,
and with respect to all foreign treaties,
and be utterly silent as to the lives and pro-
perties of the people. It is not credible that such
negligence would be exhibited in a matter of such
vital importance. It was felt, however, that in de-
manding the same privileges all that could be
desired was obtained. It may, therefore, we think,
fairly be assumed that not only the express
words of the article, but its spirit demanded
that the constitutional privileges enjoyed by
Englishmen should be participated in by
every Irishman. We ask is this the case ?
Let the Lord Chief Justice answer. When Mr.
`ti HITESIDE suggested of a case alluded to by the
Learned Judge in the course of his charge, that it
was an English case, where the accused had a list of
witnesses eleven days before, his Lordship acknow-
!edged the justice of the remark, and said, " that the
prisoner is exposed to the disadvantage, or, rather,
he is not entitled to the advantage which
he would have received in England of
being furnished with a list of witnesses." After this
acknowledgment it cannot be asserted that the Irish
have equal "privileges" with English subjects.
And we, therefore, submit that if Mr. SMITH
O'BRIEN be executed there will be a grave violation
of that article. If there were no other grounds for
an extension of mercy than that we have suggested,
it would, we think, be amply sufficient for the pur-
pose ; but, coupled with the other facts to which we
have already directed the public attention, it is in our
opinion perfectly irresistible.

A convivial banquet was given to Sir CHARLES
N APIEE, in his capacity of Conqueror and Adminis-
trator of Sinde, exactly a week ago, namely,
on Thursday evening, the sth of this present Oc-
tober, in the palatial hotel, situated at the end of the
Promenade in Cheltenham. The Earl of ELLEN•
BOROUGH, attracted thither from his quaint old man-
sion at Southern, was the chairman Among the
company, composed principally of military ar.d
naval officers, were distinguishable the features
of " the gallant Welsh artilleryman LLOYD," whose
batteries often mowed down the enemy with such
deadly precision, those of WILEY, " who fell wounded
while cheering on his companions in the battle,"
those of " young M'MuaDo," who hazarded his life
by plunging, sword in hand, among the combatants,
and those also of several others who have reaped
honour, if not emolument, by their valiant deeds in
the peninsula of Hindostan. A report of the 'eulo-
gistic speeches delivered upon this very interesting
occasion will be found in another portion of this

LONDON, THURSDAY, OCTOBER 12, 1141.

The last dread sentence of the law has been pro-
nounced upon Mr. SMITH O'BRIEN. The brutal and
repulsive enactment, befitting a degraded and barba-
rous nation, but a stain upon and a disgrace to the
British statute book, is to be carried into execution
upon a chivalrous and high.mindel gentleman, and
unless her MAJESTY should exercise her most glorious
prerogative in his favour within a brief period,
WILLIAM SMITH O'BRIEN will be" drawn on a hurdle
to the place of execution, and be there hanged by the
neck until he is dead, that afterwards his head shall
be severed from his body, his body severed into four
quarters, to be disposed of as her MAJESTY shall
think fit." Such is the judgment which the Learned
Judges, who so ably and impartially presided during
the trial, were compelled to deliver ; but most sin-
cerely and earnestly do we hope that no attempt may
be made to carry that judgment into execution.
The short address uttered by Mr. O'BRIEN, when
called upon to state any reason why sentence of
death and execution should not be passed upon him,
has been strongly commented upon by several of our
contemporaries. It has been described as an out-
break of temper—a defiance of the SOVEREIGN and
the Judges, an act of vulgar bravado and peevish
persistance in crime. Now, we must most empha-
tically protest against this most unfair and unwar-
ranted construction. Mr. O'BRIEN neither defied
the Court nor the law—he evinced no unmanly petu-
lance or braggart recklessness, but in a calm and
dignified spirit he declared the truth and
sincerity of his convictions, and expressed
his readiness to seal the testimony with
his blood upon the scaffold. Had he exhibited ade
pres—d or cowardly bearing, had he implored mercy
from the power he defied, he would halve become
merely contemptible, and there would have been
strong grounds for supposing, that overweening
vanity, a craving for notoriety, and a desire of per-
sonal stgrandisement had been his ruling passion.
But his calm assertion, even in that dreadful mo-
ment, that he had but discharged the duty which, in
his opinion, every Irishman owed to his country, and
the declaration, that he was prepared to abide the con-
sequences of his act, afforded the strongest evidence
Df the integrity and purity of his motives, of the

evening's impression.

It is with peculiar pleasure—a pleasure only com-
mensurate in its depth with the fullness of our ap-
preciation of the achievements of the illustrious
Captain, in whose honour the banquet was pro-
vided—that we record, as a fait (or shall we
say a fete) accompli, a dinner given to the
Conqueror and Administrator of Sinde within the
distance of half a dozen miles from the country resi-
dence of the Earl of ELLENBOROUGH, and with that
eminent nobleman himself officiating as chairman.
It seems like a jovial retribution cast about the ears
of a clique of political antagonists—like a thorn of
merriment employed to puncture the sides of that
miserable clique, that clique which Sir CHARLES
NAPIER rather bitterly designated as " a party of
damned scoundrels—a rascally press and a rascally
Government" Waiving altogether the soldierlike
bluntness of the allusion, we do sympathise most
cordially with the emotions which must have been
experienced by the illustrious guest on Thursday
evening, when he found himself once more in Eng-
land surrounded by his old companions in arms, and
when he heard his name mentioned, moreover, in
terms of earnest and deserved panegyric by the lips
of a man no less distinguished in statesmanship and
administration than the ex-Governor-General of
British India, the Earl of ELLENBOROUGIL It must

THE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.

The Patrie has the following on the Ministerial, or,
more properly speaking, on the Governmental crisis :
" There is no longer any question of a Ministerial
modification, nor of the retirement of General Cavaig-
nac. The General has to-day told his friends that he
should remain at the head of the Government until
the election of the President of the Republic."

The same journal says—
" Last evening at sevan o'clock the following mo-
dification of the Ministry was handed about at the
National Assembly as definitively settled :—General
Bedeau, Foreign Affairs; M. Dufaure, Interior; M.
Havin, Public Instruction ; and M. Bastide, Public
Works. M. Vivien was spoken of for Justice, and
M. Achille Fould or M. Gouin for Finance, but
nothing has yet been decided on these two points.
At the moment of going to press, General Cavaignac,
it is said, was hesitating to accept two Republicans of
the Surlendemmin in place of MM. Marie and Goud-
chaux."

There is, it appears, a split in the Opposition camp
which tends greatly to strengthen the position of
General CAVAIGNAC. M. TRIERS, eager for office,
is anxious to upset the Ministry at once, and to have
a new Ministry appointed, of which his brother-in-
law, General LAMORICIIIRE shall be nominally Presi-
dent, but which he himself (M. Timm) shall inspire.
Count MOLE, considering that all Ministerial changes
must at the present moment tend to weaken the
Government, and that a strong Government is above
all things to be desired, refuses to take part in these
intrigues against General CAVAIGNAC, and is willing
to afford the General every assistance in his power.
The sitting of the Assembly on Tuesday was occu-
pied in discussing the proposition of M. WoLowsm,
for issuing paper money guaranteed on landed pro-
perty. The proposition was opposed by M. TRIERS
and Al. GOUDCHAUX, and the debate was adjourned.
In the course of the debate the Finance Minister
assured the Assembly that the wants of the public
service for the next seventeen months were pro-
vided for.

The Finance Committee heard, on Monday, the
Minister of Finance and M. YAW', Liquidator of
the Civil List, on the proposition relative to the
debts of the late Royal Family. The Committee,
considering the difficult position of the creditors of
the Civil List, resolved to call on the Assembly to
appoint an early day for the discussion of their
claims. The project of decree, as amended by the
Minister of Finance, maintained the sequestration,
and authorised the Minister, a delegate, or liquidator,
to mortgage the property, and contract a loan to
pay the creditors of the Civil List. It also em-
powered the Minister of Finance to make a provi-
sion for the Princes of the Royal Family, and to
return to them their moveable property and jointures,
The proposition for issuing
.paper money, on the
security of landed property, was ultimately rejected
by the Assembly by a majority of 578 against 210.
The Assembly afterwards repealed, without any
discussion, the law of the 10th of April, 1832, which
banished the family of IslaroLzox from the French
territory.
A disagreeable rencontre took place in the salle
des pas perdus (the lobby of the National Assembly),
between M. BAsTinß, the Minister for Foreign Af-
fairs, and M. THouABD, formerly the vice-president
of the Blanqui Club. M. THOUARD came to the hall,
as he said, to meet M. BASTIDE. As soon as M.
BASTIDE (who was accompanied by his chef de cabinet,
M. HETZEL) appeared, M. THOUARD approached and
spat in M. BAsTIDE's face. Both M. BASTIDE and
M. HETZEL put their hands to their pockets as if in
search of arms ; but the guard coming up, M.
THOUARD was at once arrested. It appears that M.
THOUARD bad been appointed Vice-Consul at Naples ;
but, after he had gone as far as Marseilles, towards
that destination, he was recalled and ordered to go to
Guayaquil. Three days afterwards, however, he was
dismissed from the latter post, and he has since
written both to M. BASTIDE and M. HETZEL, threat-
ening to poignard them.
BEE OOUR4oc_T
BOURSE, PARIS,
statement WEtDeNEmeSnDtAlt,ade Oer.ll.
Tußyesterday by
M. Goudchaux, and the rumour that some members ?t
the Moderate party had finally agreed to enter the Mi-
nistry, bad a powerful effect on the Bourse to-day, and
the rise which commenced yesterday made further pro-
gress. For the Account, the French Three per Cents.
have advanced 35c.; Five per Cents, have advanced 70c.;
the Loan, 70c. For Money, the Three per Cents. have
advanced 30c., Five per Cents. 55c., and the Loan 70c. ;
Bons du Tresor are at 22 discount. Bank of France
Shares have risen sf. Belgian Bank Shares and Funds
not quoted. Spanish Funds not quoted. Roman are
the same as yesterday. Rothschild's Receipts are at
83. Exchange on London (30 days), 25f. 450. ; ditto
(90 days), 25f. 22i0. Railway Shares participated in
the general rise.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE

SWITZERLAND.

GERMANY

AND

LONDON STOCK-EXCHANGE, Ocr. 11.
Boulogne and Amiens, s%—Northern of France, 5,'--
Paris and Lyons, 4—Sambre and Meuse, 21/4.

SPAIN.

Madrid papers of the sth instant have arrived.

Their contents are without interest.

MADRID BOLSA, OCT. s.—Three per Cents., 19
1.16 cash, :* for the account ; Five per Cents., 10f

THE SUN, LONDON, THURSDAY EVENING, OCTOBER 12 1848.

Passive Debt, 3i to 1; Coupons, 6 ; the Bank of San
Fernando not quoted. Exehange on London, 48 20.

The Charge de .Affaires of the Central German
Government has transmitted the following note to
the Federal Directory of Switzerland :

titans had been forced to seek protection in the city.
It was said that the Second Chamber was disposed to
accept the second son of the King of NArLEs as their
Sovereign, with a constitution.

" After the unfortunate result of the revolution at-
tempted by Hecker and his associates in the Grand
Duchy of Baden, the fugitives for the most part
withdrew to the Swiss territory. Never had the
German Governments, though united in confedera-
tion, any idea of demanding their extradition, or of
requiring that the right of asylum should be refused
to them, as long as the refugees could be considered
as peaceful inhabitants of Switzerland. But that is
what they never have been, or, at least, what they
have been during but a short time. The refugees
continued their machinations without interruption ;
they kept up relations with the inhabitants of southern
Germany ; they distributed a number of seditious
writings; they endeavoured to weaken the discipline
of the German troops, and produced such an agitation
in the said states that to place on foot a considerable
body of troops became necessary. Circumstances
obliged the Germanic Diet, which, up to the esta-
blishment of the Central Provisional Govern-
ment, had the care of the common in-
terests of Germany, to take such measures
as were proper to prevent the perturbation
of tranquillity in the German states. To that
effect it addressed, on July 30, 1848, the Directory
a note in which, while exposing its causes of com-
plaint, it demanded strongly that the armed refugees
should be removed from the frontier cantons where
they were beginning to exercise themselves in arms.
Major de Liel, in the Bavarian service, was charged
to hand in this note personally, and to add such ex-
planations as might be required. That gentleman
addressed, about the ad of August, 1848, to the
Archduke Vicar of the Empire, who had in the
meantime been charged with the central power of
Germany, a report on his mission, appending to it a
verbal note addressed to him by the President of the
Directory. This verbal note declared the complaints
of the Germanic Diet to be not well founded, inas-
much as it declared that according to the communi-
cations made by the Cantonal Governments, there
was no question of the organisation of any body of
refugees for military exercise, or of their uniting for
the purpose of aggression; that on the contrary the
refugees remained quiet, subject to a special control
on the part of the cantonal authorities, who were
firmly determined not to tolerate that abuse of the
right of asylum, contrary to the interests of Swit-
zerland, as well as to the policy which she had up to
that time followed. After such declarations and as-
surances, the Government of the Vicar of the Empire
couldsubmitto the Vicar of the Empire the question to
ascertain if the measures taken by the Cerman Diet
for the safety of the German territory were justified,
and if the indications given by the Cantonal Govern-
ments were true. Struve and his accomplices, whose
presence and agitations along the German frontier
had called forth the complaints of the German Diet,
afew days ago made an invasion into the Grand Duchy
of Baden. Rapine and forced contributions marked
their passage, and their proclamations only too well
proved that their criminal enterprise was the violent
overthrow of existing order, for the purpose of sub-
stituting for it, under the mask of liberty, the most
terrible terrorism and the most frightful despotism.
Although the valour of the troops of the empire, and
the attachment of the citizens to their constitution
and to legal order, baffled the infamous designs of
these free corps, however that event imposes on the
Government of the Vicar of the Empire the duty to
adopt such measures as the honour and safety of
Germany demand. The preparations for this inva-
sion could not have escaped the notice of the Can-
tonal Governments. Nevertheless, this violation so
flagrant of the duties imposed by the right of nations
has taken place—a violation for which the Go-
vernment of the Vicar of the Empire demands
a complete satisfaction, and in the shortest delay.
The Central Provisional Government has been anxious
to express the high value which it attaches to re-
entering on the most amicable relations with the Con-
federation, but it recognises also the gravity of the
duties which are imposed on it relative to Germany,
and it will know how to fulfil them. It is in con-
formity with these duties that it demands that the
Governments of the Cantons in which the organisa-
tion of the free corps took place should at once pro-
ceed to a searching investigation, and to the punish-
ment of the functionaries and authorities who are in
fault ; that all the refugees be immediately disarmed,
and, as their complete removal from the cantons
would be an unconstitutional act, that they be dis-
persed to a suitable distance from the German fron-
tier, and placed under the inspection of the polke ; in
fine, that it be declared in a positive manner what
guarantees can be given that similar events, capable
of stifling the germs of liberty in Germany, shall not
again take place. Should these demands not be com-
plied with in the shortest possible delay, the Vicar of
the Empire, convinced that it will enter the lists for
liberty, and not against it, and that it will
have for adversaries, not the Swiss people, but those
who despise laws and civilization, will exhaust all the
means the application of which can be justified by the
violations mentioned above, of performing the duties
imposed by the right of nations, and demanded by the
honour of Gerniany.—Berne, Oct. 4."

MONEY mid COMmE atchu, E

CITY, QUARTER TO THREE.
The Cotton Market at Liverpool, yesterday, was
steady. Sales 4,000 to 5,000 bales at previous rates.
Shares were a little brisker. _

As the dividends will to-morrow and subsequently,
give to annuitants a sum of six or seven millions
sterling, from which it is but lair to assume there
may be a good surplus available for re-investmeat,
we shall be curious to observe what may be the security
selected. In the present dull state of trade, and with
money exceedingly cheap, there cannot be much pros-
pect of discount business absorbing any additional
amount to that already in the coffers of the bankers,
and there remains but the choice of transferable or fixed
properties. Stocks and shares constitute the former, land
and houses the latter. The public securities will, no
doubt, as usual, come in for the larger share of favour,
as many wealthy parties make it a practice to add
periodically to their stake, and shares no doubt
would have proved attractive had they been 30 or
40 per cent. higher. Yes, we repeat the word,
higher, for it is a remarkable fact that whereas
all the world was mad for railway speculations
when it should have kept aloof, because the temp•
tation of 3 or 4 flier cent, did really not repay the risk,
seeing the liabilities into which the companies were
rushing, every one now is sacrificing his shares at half
what they cost, and at rates bringing 6 or 7 per
cent. per annum, with improved management and
curtailed responsibilities. Our contemporary the 7irnes,
after a prolonged silence, and without having the
slightest claim to having warned the public of the pre-
sent reaction, or enlightened it as to the capital accounts
of the great companies, and the necessity for searching
inquiry, now comes forward to aggravate the panic, and
arrogate to itself the mischievous reputation of " having
done it all." It is easy to take advantage of a temporary
feeling of alarm, and to foment uneasiness, especially
where little scrupulousness is exhibited in distorting
or colouring information only partly founded on facts.
It may be true, for instance, that Parliament has sanc-
tioned lines which if executed would involve an outlay of
134,000,0001., and, not having time just now, we will ac-
cept the statement as correct, even though we have
misgivings on that score, but should it not, in candour,
have been added that not one halt; probably not a third,
of the schemes will ever be carried out, and that the
annual expenditure for the next two years will be far
less than it has been at any period since 1845—that the
cost of construction will be greatly reduced, and that
branch lines are steadily coming into use, and
by promoting facilities of internal communi-
cation, adding to our means of manufacturing
and competing with foreign countries, bringing
metallic wealth from abroad, as well as economizing
labour and capital at home—should not these things
have been stated to stay the sacrifices in too many cases
unnecessarily made? But our Contemporary, regardless
of consequences, writes simply for effect. It has a
giant's power and mercilessly uses it. Let us hope that
for once, however, the holders will judge for them-
selves, look to substantial grievances, urge the gradual
closing of " capital accounts," the limitation of calls,
the publication of unreserved financial statements, and
reject the bugbear that there are new railways costing
134,000,0001. about to swallow up the national resources.
This is a Jewish holiday, and many parties are absent
in consequence.
The Funds are improving after the unaccountable de-
pression of the last day or two. Consols have been
85+ f for transfer, and 85+ to 4 for time. Exchequer-
bills are 30s. to 335. premium. Bank ,Stock is at 187 to
190 ex dividend. The New Three•and-a-Quarter per
Cents. are 84i
The Foreign Securities have been very quiet. Mexi-
can are firm at 19+ to f ; Spanish Three per Cents., 23+;
Brazilian ex div., 72k; Portuguese Four per Cents. about
23f to 24k.
Railway Shares are fiat, but there is no material
change, and business is not brisk.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.

---- -
(From the Official List.)
Bank Stock
3 per Cent. Reduced Annuitie5........... 83 Ts 8414 x d
3 per Cent. Consols Anna 85141/2
New 314 per Cent. AIIREI. 541,434 x d
Long Annuities, Exp. Jan. sth, 1860 $ 5-16 x d
India Stock —
Do. Bonds, 10001 36 p
Ditto under 1.0001
Consols for Account
Exchequer Bills. 21,! d. 2d.
March. June.
1,000/.
500/ 34 33 p
Small 37 p 34 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 6 per Cent
Mexican Bonds, IM6, 5 per Cent Cent
Ditto fir the Account
Peruvian Bonds, 6 per Cent 32
Spanish Bonds, 3 per Cent... .
Dividends on the aboVe payable in London.

THE NORTHERN STATES.

AUSTRIA AND HUNGARY.

On the 4th instant 5,000 Austrian troops were dis-
patched from Bruck to reinforce JELLACHICH'S army
in Hungary ; 4,000 men have marched from Gratz to
the Plattensee for the same purpose ; 15,000 Imperial
trrooooppss havero m left Upper Hungary. The
t Cracow, too,
fortoo, have marched against the
f
Magyars.

tiIISINESs DON 01 RAILWAY SLIAILES AT ONE O'CLOCK
RAu.wATo... ~. Pun. Pas SHAWL.
?Aberdeen
Amber., Notting., Boston, &c 4!‘ —
kyrshire and Galloway
Belfast and County Down .. 174 .. ..
Birmingham & Oxford June... 20
Birmingham, Wol., & Dudley 10 ... . 123 A . to
Birraing., Wol., & Stour Val 131.145.... to
Birkenhead, Lancashire, and
Cheshire Junction..
Boston, Stamf., & Birming... 5
Bristol and Exeter
Do., Thirds ...... ... ..... ... 25
Buckinghamshire..
Caledonian

Ditto, Half Shares

Ditto, New 101. Preference 2
Ditto, Clydesdale Junction 50
Chester and H01yhead........ 47% — ...... to
Ditto, Preference
Clarence.

Do., Ist Class, 6 per Cent... 10 - . ... to
Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10 - ...... to
Direct London & Portsmouth 514 to
Dublin and Belfast Junction.. 35 -
Dundalk and Enniskillen ... 20
East Anglia, 251. L. & E.,
mad L. & D
Ditto, 18/. ,E.i II lB ...... .....to
Ditto, 31. 10s., E. & II
_3% 7-- ...... to

Ditto,

. .
,:astern Counties
Do. New Guarant. 6 per Ct. 7% 8
Do. Perpet.,s per ct. No. 1,6/. 138. 4d...
Do., d 0....... ......... N 0.2,61. 13s. 4d...
Do., Northern & Eastern... 50 -
Do., 5 per cent. ...
Do., Quarter .... . ...... ...... 1250 %.... -
Do., New -
Eastern Union, Class A (late
E. U. Shares) ...... ... .. 25 ......
Ditto, ditto, Class A, ditto 1 -
Ditto, do, Class B (I. &B) 20
Ditto, do, Class C, ditto... 20
Ditto Scrip (gua. 6 per ct.) 10 . —
Ditto, ditto ........ .... —.... 20 ......
Ditto (C. & E.), 5 per ct. 2% — to
East Lancashire
Ditto, New ... .......... .... . 21
Do., New Quarters
Do., 6 per Cent. Preference
Quarter Share.
East Lincolnshire 23 ...... 22% to
Edinburgh and Glasgow SO
Ditto, Half Shares
Edinburgh and Northern ... 25
Ditto, New port.. ..
Exeter, Yeovil, & Dorchester 2% — to
Glasg., Dumfries, & Carlisle..B/. 68.8 d... to
Glasgow, Kilmarnock, & Ayr 50 „.„,„. -
Do. Preference Consolidated
Great Northern.... .......... ... 17 -
Do. % A Deferred .•...... 12% 2% to
Do. 1,4 B 6 per Cent. Guar. 4%
Do. Extension .
. .• -- ..... to
42% ..
Great North of England 100 • to
Ditto, IN i. 401.
Ditto, ditto

Ditto, New 301 ... 30 ... ..
Ditto, New 151.-- ... ...... 14 ...... .
Great Western
Ditto, Half Shares
Ditto, Quarter Shares
Ditto, Fifths
Do. New 171
Huddersfield and Manchester 28 .. —.
Ditto, Thirds
Elull and Selby SO
Ditto, Half Shares .. ...... 25 .....
Ditto, Quarter Shares 121,E — to
Lancaster and Carlisle.... ... 50
Do., Thirds lO ......
Lancashire and Yorkshire ... 93
Ditto, ditto
Ditto Half Shares — 43
Ditto Quarters
Ditto Fifths ...
Ditto Sixteenths .......... 614-- ...
Ditto Thirds (Reg.)
Do., New Guar. 6 per cent. 5

. .
Do. Liverpool and Bury... 43
Do. (Hudders. and Shelf.) 43
Do., Wakefield, Pontefract,
and Goole
Do., West Hiding Union.— 7 .... .
Do., Preston and Wyre ... 25 ......
Do., do., Half Shares (A) 9% — to
Leeds and Bradford
Leeds,Dewsbury,lx blanches. 50
Do., Half Shares
Ditto, Blue (scrip) ..... .... 21,4 — ...... to
Leeds and Thirsk ...—... ...... 50
Ditto, New - 35 • •••• •••••• to
Do.,do.,Prefer., 6 per Cent. 31,x..... ...... to
Liverpool,Crosby, andSouth-
port.
Liverpool, Manchester, and
Newcastle Juncti0n.......... 2% — ..... .to
London & Blackwall ...•••131.65. 8d —
Do. Extension
_ _

Lond., Bright., & South Coast 50— 25% to
Do. Guaranteed 5 per Cent. 9 ...... .. to
De. Prof. Cony. 5 per Cent. 50 ...... .. to
Ditto, ditto ...........1852 50 .....
Do., New, guar. 6 per cent. 4
1 ondon and Greenwich... 12/.155. 4d — ... „ to
Ditto Preference .........181 17s 2d — ...... to
London & North Western.....loo lO4 102... to 101
Do. Quarters (L. and B.) 22
DI. New ..................... 7
Do. Fifths
Do. 40g. Shares.....L. & M 25 ...... to
Do. 10/.... M. and B. (A.) 9 ..., . to
Do. 101. .. M. and B. (B.) 9 -
Do. 10/. ... hi. and B. (C.) 1
London and S. Western...-. 50
Ditto, New 501........-.....424k 224 to 24
Ditto, New 404... ..... .. .. 34
Do. Tenths (Consolidated) 50 ...„.
.. .

J.
_
Do. Tenths (Consolidated) 40
to

..... .114 185.4 d 574 dis. to --

Do., New Scrip, 1848, Pref.
7 per Ct. on Deposit and
5 per Ct. on Calls ......1/. 13s. 4d.... Uitzi dis to
Lemdon., Salisbury, & Yeovil
to

Londonderry and Coleraine... 27 4; —
Londonderry and Enniskillen 25

Lowestoft (guar. 4 per cent.) 20
Ditto (guar. 6 per cent. ... 8 ....

ranch. .6ulton.:SL Matlock
to ......

,t,anchr, Sheßield, and Linc.100

Ditto 14 Shares (No. 1) 18

Ditto, ditto (.10.

to--

Shares (No. 3)... 10
to

Do., New 10.. Preference 10 „., .. 9%...... to
Ditto Grimsby ..•.•••.. 35
Ditto, ditto. ..... ..„.... ll
Ditto, ditto ...
Ditto Sheffield and Lisle. 121/2..0., to
Ditto, Grimsby Dock ...•••• 171 A — to
Ditto, Man. & Lin. Unichl 4/. 25....
Mid1and........ ............. ...100
Ditto, Consol. I'reference...100
Ditto, 501. 5hare5........... 20
Midland, Birm., and Derby...lW ... .. -
Midland, Consol. Bristol and
Birmingham. 6 per cent.... 100 ll 4
Midland, Bristol and Glouc. 38 ... ..
Ditto ditto 14/. 18a...
Midland, Leices. and Swan-
ningtoa (8 per ct.gua.)....100 .... .
u idld. Great Westero (Irish) 421, . -
Middlesbro' and Bedew'. 6
per cent. guar. ,... . ... 50
Newcastle and Carlisle
Ditto Quarter Shares -
Newmarket

Ditto Extension Scrip... 2/..125. —
Newport Abergy., and Heref. b
Newry and Enniskillen
Newry, Warrenpoint, and
Rostrevor .......... ......... 20
... .. to
Norfolk
Ditto New '2Ol. lO ..... --
to
Ditto Extension bper ct... 20

Do. Guaranteed 51,4 per ct. 6 .. — -- - to
Do. do. Waveney Valley... 2
Northern Counties Union ... 4
North British
Ditto Half Shares. ..... ..... 121,4 7 ... -to
Do. Quarters: 614 — ...... to
Ditto. Extension NI to
Ditto Thirds ..- ........ -.... 84...... 414 ..... to
North and South-Western... 2 .. - .. ••• to
North Staffordshire... .. ...... 15 ...... PA cc. 8
North Wales 3% ••••• • .... to
North Western
Oxford, Worcester, and Wol-
verhampton
Reading, Guildtd. , & Reigate 10
Royston and Hitchin ..... .. 1%..- -
Scottish Central - _—
Scottish Midland .... ....... .... 25
Ditto, New... -
Sheffield, Rotherham, and
Goole 71ii•••••• -...• to

Do. do. ( South Div.) 5
Shrewsbury and Birmingham 9 ... 1,34i1A ex.n to
Ditto. ditto. Class B. 5
Shrewsbury and Hereford .. 2 . ... .. to
Shrewsbury and Chester
(Nor. NV . :din.)
Ditto Halves, Ditto... 8 ... .. .
Ditto, Uswestry
Ditto „New) 1
Ditto 8 per Cent. Pref....... 10
Shropshire Uni0n.....,. 4 ... .. IA% to
South Devon ...... ......... ... 50 ......

Ditto. Preference

South Staffordshire 5l, —• .. .. to
south Eastern
Ditto, New, No. 1
Ditto, Now, N 0.2
Ditto, New, No. 3 ... 25
Ditto New, No. 4. Thirds 10
South Wales
South Yorkshire, Doncaster
and Goole .....

Swans. and Loughor and Ca-
meron's Stm. Coal ..... . 6
Taw Vale Extension
Thames Haven Dock and
Railway 171,E
Vale of Death

to -
- •• ••• to

Waterford and Kilkenny 17%...... to
Waterford and Limerick..... 45 ... .. to
Waterford,Wexford,Wicklw,
and Dublin
Wear Valley 6 per Cent.
Guaranteed
Do. do. do.
Do. do. do. ...... .. 9 ...
West Cornwall
West L0nd0n..........
Ditto, First Class.
Ditto, Second Class 2S ...... ...... to
Whiteliaven and Furness lB ... .. —.
Windsor, Staines, and. South
Western......
Wilts,Somerset,&Weymouth 40
York, Newcastle, and Berwick 25 ..
Do. Original New & Ber'ck 25
Do. Exton. No.l (Y. &N.) 15
Do. do. No. 2, New &B. 15
Do. G. N. E. Pur. or Pref. 8
York and North Midland .. 50
Ditto, Preference
Ditto East and iir estßiding
Extension ...... ... .. ...... 25 . 221..... to
FOREIGN RAILWAYS.
Anglo Italian (late Italian
and Austrian
Boulogne and Amiens 2O ...... 5% to
Central of France ( Orleans
and Vierzon) ... -
~.

Ceylon .... 1,4 —
Demerara. ............ ........ ... 121,4.....
Dendre Valley
Direct Bombay and Madras ss. .... .
Dutch Rhenish

East Indian
Great Indian Peninsular 4 — ...... to
Louvain it la Sambre ......... 71j= — ...... to

Luxembourg
7
:,ladrid and Valentia
Nainur and Liege .
Northern of France l2 ...... 614...... to
Orleans and Bordeaux ...
Pant and Lyons -
Do. Do.
Pans and Orleans.... 2O -
Paris and Rouen
Paris & Strasbourg ..... ..... 8 ...... _
Rouen and llavre . 20
Sambre:and Meuse
Strasburg and Bale ..... ...... 14
Tours & Nantes ... • .. 9
'fournay, Jurbise, Landen,
and Ilasselt
West Flanders _
_____ 8% .

.--- -- -
"‘t,4: j''
r,,--' '''''''''':" .'- " ' f.:)4111.'. • :.,,' . iliriPA*4 .-:..'2..A;t1...4.'''
Au...- 1E - . ....-"' 44...1.•% ,
", i•-,.. , , i'...., ".... - ...:::,t: ..,';.