The Sun.
London, England, 1846-01-26 00:00:00

ifittrui

LONDON, MONDAY, JANUARY 26, 1846.

The Chancellor of the Exchequer's answer, on the sub-
ject of the railway deposits, appears to us extremely
unsatisfactory. So far as reasons are concerned, it was
in fact no answer at all. To enable the railway de-
posits to be paid in Exchequer-bills, Government Stock
and India Bonds would have no more to do with en-
couraging speculations than Tenterden's steeple had to
do with Goodwin Sands. The difficulty to be met is
not a difficulty as to getting in money for railway pro-
jects, but a difficulty as to paying into the Bank
money already got : and it is not the
railway speculators who are interested in the alteration,
but all the moneyed and commercial interests of the king-
dom. Not one railway company in difficulty for want
of funds would be helped over the mile by the Chancellor
of the Exchequer's consent to the propo-ed alteration;
but it would give a relief at this moment to the whole
commercial credit of the country, and more especially to
the metropolis, and we only hope that it is not necessary
to save other banks from following in the train of the
two northern banks which have lately failed. These
two banks have failed owing to the difficulty about
railway deposits. They have to thank the Chan-
cellor of the Exchequer. If he had in November given
the assurance which the City deputation desired, there
would have been no alarm or difficulty about the railway
deposit question. The allusion made by Mr. GOULBURN
yesterday to the railway speculation had nothing to do
with the question ; and it is rather too hard that the
moneyed interests of the country should be sacrificed, by
the Chancellor of the Exchequer's ignorance, to a mis-
applied moral ardour.
Railway companies that have invested their funds in
approved securities until the time came for paying the
deposits have, under the present law, but to sell out in
order to deposit with the Accountant-General, and then,
after having deposited, buy in again. What is the use,
at best, of this buying in and selling out? But it is not
merely that it is useless, but absolutely a loss to the
companies, and no earthly purpose of good. Over and
above the brokerage expenses, when all are selling out,
the value of the securities fall, and, when all are buying
in'again, rises ; so that there is no saying what loss
may not be incurred by railway companies. And this
is what the Chancellor of the Exchequer treats as a
time-honoured institution, and will not touch.

We have at length some precise information concern-
ing the negotiations carried on at Washington for the
settlement of the Oregon question, and regret to find
that it is anything but satisfactory. " A proposal," said
Sir ROBERT PEEL, " had been made on the part of the
British Minister to the PRESIDENT of the United States,
that there should be a division of tie territory, but the
terms offered by Mr. BUCHANAN were so little likely to
be accepted, that Mr. PAKENHAM had intimated that
they might as well be withdrawn." The Right Hon.
Baronet seemed rather disposed to blame the British
Minister for not communicating the fact to the home
Government, and asking for further instructions. Many
persons, on the contrary, will consider that Mr. PAYEN-
Hem acted with proper decision and spirit. The terms
offered were such as England could not accept with
honour. They would have deprived us of the naviga-
tion of the Columbia and ruined the Hudson's Bay Com-
pany; they would, in fact, have shut us out from all
communication with the Pacific, and given every portion
of the territory of the slightest use for commercial and
other purposes to the United States. This was a fact
so palpable, that Mr. PAKENHAM rejected the offer at
once, as totally inconsistent with his instructions and
wi h what he knew to be the rights of England. And
what now is Sir ROBERT PEEL'S scheme ? To refer
the matter to arbitration. This has been offered again
and again, and uniformly rejected, and to renew the pro-
posal after such remarkable displays of legislatorial
rancour and hostility to England appears utterly useless
for any purpose but delay. England has no wittli for
delay; her object is to settle this question at cline ; and
as for arbitration, it would only add "co the evil by
',lacing England in a worse position, Every one knows
what time was occupied by the late King of HOLLAND
in deciding the eastern boundary question, and what
was the result, The American Government refused to
abide by their original agreement, the decision of the
arbiter was rejected, and the work, after a tedious delay
of many years, was to be commenced anew. Can we
hope for any other conclusion of a second arbitra-
tion, even if the Americans would accede to it ?
And in the meantime will they be idle ? Will
they not be pouring into the Oregon additional settlers,
erecting forts, and strengthening themselves in many
other respects for a rupture ? Could this benefit Eng-
land, or give more effect to her demands ? Quite the
reverse. Even Mr. HUME, so anxious to live on good
terms with America, and so well known for his propen-
sity to cut down our naval and military establishments,
views the question with an impartial eye, denounces the
people of that country for " setting at nought all the rules
of civilisation in enforcing their alleged claims," and ap-
proves of such measures as may be necessary to maintain
the honour and character of the nation. "Under existing
circumstances," said he, " I hold it to be my duty to give
the Ministers my cordial support in their plans for
strengthening the defences of the country." When a
severe economist, like Mr. HUME, uses such language,
there must be real danger, and we
,confidently trust the
Government will not despise. it.

Never did a Parliamentary session afford a better
opportunity for the consideration of that vast constitu-
tional problem—" Political consistency"—than the pre-
sent. Without doing so in action, the Prime Minister
has virtually walked forth from the midst of his former
colleagues. and seated himself upon the benches of the
Opposition. Nevertheless, in proceeding thus, he has
relinquished his original principles with all honour, and
truthfulness, and propriety : to him no single thought
of tergiversation can be ascribed ; his character cannot
be impugned as inconsistent. And in this respect the
language of Mr. DISRAELI, on Thursday night, was
impregnated with veracity—the position of Sir ROBERT
PEEL at this moment is without one solitary parallel in
the records of history or the experience of nations.
There is, however, something like an antithesis in the
instance of EDMUND BURKE—the antithesis of unneces-
sary desertion, to a candid acknowledgment of error—
the antithesis of a man seeking emolument and place
by a combination
,with those in power, to one
risking his continuance in office by a secession
from his most influential supporters. As the Right
Hon. Baronet hinted in his explanatory address, the
conduct of a true and patriotic statesman should be ever
directed by an anxiety for the prosperity and happiness
of the people entrusted to his government. No system
of principles, however illusory or specious, should be per-
sisted in under every and any circumstances by a
Minister desirous of discharging his duties without par-
tiality. No Sense of personal obligation should in any
particular impede the development of whatever views he
may consider beneficial to the multitude. No fear of
contumely or vituperation should prevent him from fol-
lowing the dictates of his reason. He should stand apart
from the trammels of party: his principles should be
moulded upon :a gigantic and cosmopolitan scale: his
survey should be enlarged not only to the compass
of all classes, it should extend beyond the
confines of his own generation, and calculate
the contingencies of futurity. In all these
respects, as far as the present momentous question of
commercial policy is concerned, the Premier cannot
dread the searching eye of analysis. The character,
upon this point, tallies to a tittle. There are, however,
some collateral facts in connexion with a great conver-
sion similar to that of Sir ROBERT PEEL, which render
the consistency of the individual somewhat dubious. A
sudden desertion to those against whom, and against
awhosend u
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and the accusation of being unconscientious. In the
present First Lord of the Treasury, however, th's
aspersion cannot by the most artful and subtle
re'asonel
ing hold good for an instant. His conversion upon the
subject of freedom to trade, and the abolition of
exclusive protection to agriculture, is not of that
abrupt nature which it may be conceived to
be by the superficial observer. His whole conduct
throughout his Ministerial existence has displayed a
decided leaning towards these ends. He has not aban-
doned the protectionists with one sudden bound into the
territory of their opponents ; he has not even to undo
what he had already accomplished, but rather to enlarge
the enlargement he bad himself made ; to bh,4e into

ruin the tower and its very foundations, the buttresses
of which he had previously demolished ; to extend the
parole of his tariff into the complete and permanent
emancipation of free trade. If his concessions is regard
to wool, and sugar, and glass, and cattle, and divers other
articles of home industry and foreign produce, had not
in some measure prepared the protectionists for a still
further evidence of his desire to diminish whatever im-
posts might appear to him as arduous and superfluous,
they must have been most miserably shortsighted
indeed. Besides the various gradations we have
enumerated, Sir ROBERT PEEL has shown by his
general bearing a tendency to that grand alteration of
his opinions which he announced with such candour and
simplicity on Thursday night last. It is on this ac-
count, therefore, besides the numerous other conclusive
reasons he himself advanced in his explanation, that we
now regard Sir ROBERT PEEL as a thoroughly conscien-
tious and consistent politician. Had he still adhered to an
impossibility, like the existing corn-laws ; had he per
sisted in propping up a decayed and rotten fabric, like
the present commercial system—knowing meanwhile its
utter meanness and impolicy—then he might justly have
been branded as a small•hearted, callous, bigoted, and
inconsistent statesman. As it is, he proves himself to
be the very convert e. What to him the vitupera-
tions of a few disappointed men ! What to him
the scurrility of the searchers after aggran-
disement ! What to him the sneers and scoff;
and ridicule of those who are only influenced
through the pocket The laborious days and
nights which, during the recent recess, he has
consumed in planning this act of Ministerial
magnanimity are now being recompensed with fruition
—the fruition of popular gratitude and the applause of
every discriminating intellect. With the bitterness and
the spleen of his new enemies he cannot, by possibility,
be affected. However brilliant their: animosity may be
it is contemptible; and in this way the showy onslaught
of Mr. BENJAMIN DISRAELI was but the glitter of a
dying faction. When both the leader of the Opposition
and the Prime Minister himself admit the excellence of
a hitherto unacknowledged principle, their example
cannot but be imitated by many of their political ad-
herents.

"Oculum non curabis sine toto capite,
Nec caput sine toto corpore,
Nec totum corpus sine anima."

We have received Madrid journals of the 15th. The
discussion in the Chamber of Deputies on the A(ldress
had not been brought to a conclusion, but the speeches
contain nothing of interest to the English reader. Ac.
counts from Barcelona of the same date announce that
the Political Chief of that city had caused to be arrested
46 individuals, and had them confined in the citadel.

On the Madrid Bourse the Three per Cents. were
quoted at 341, and the Fives at 24, both for Account.

The speech of M. GulzoT, in the French Chamber of
Deputies, in reply to M. TRIERS on the relations of
France with the United States, has excited considerable
interest, and nearly all the journals comment upon it.
The speech, which will be found at length in another
part of the paper, forms an admirable:reply to the hos-
tile attacks of M. TRIERS, both on the French Govern-
ment and England. lie adhered to his former assertions
respecting the balance of power and the aggrandisement
of the United States. " In a political point of view," said
he, " the unmeasured greatness of that power was a
most objectionable circumstance, as, after having ab-
sorbed Texas, they might turn their views towards
Mexico, and thus destroy the balance of power on the
American continent. The counsels which France bad
given to Texas when menaced by the United States she
would equally have given, had England shown any de-
sign to obtain possession of that country. France had
used most moderate language, and such as ought not to
give any offence to the Cabinet of Washington. As to
the affair of the Oregon, France most ardently wished
for an amicable arrangement of the differences between
England and the United States ; but if, unfortunately,
hostilities should ensue, the policy of France would be
to observe a sirict neutrality."
The Journal des Debats contains a long article on the
speech, and calls attention especially to that part of it
which refutes M. TRIERS' arguments on the subject of
England. " The good understanding between the two
Governments, and the friendly relations between the
two Sovereigns, are not the only fruits," says that jour-
nal, "of the policy of the present Cabinet. Evidence
of a friendly feeling in both nations is to be found in the
journals, and in the various manifestations to which
circumstances occasionally give rise. Even M. TRIERS
himself is a proof of the admirable change that has been
effected, for he has been received in England with as
much cordiality as if the part that he took in foment•
ing discord when he was last in office had been
entirely forgotten. But, supposing even that the
feeling of discontent and irritation of which M.
TRIERS talks, did really exist, to whom would it be
owing ? To himself and his policy." The National
asserts that the speech of M. GUIZOT was a lame de-
fence of a wretched policy, and the a proceeds to
abuse not only M. GUIZOT, but also M. TRIERS, for the
modest feeling that they have both proclaimed to the
French nation. It is quite indignant at seeing France
remain passive, whilst other countries are increasing their
power and adding to their possessions. The Courrier
Francais condemns the policy of M. GUIBOT, and ex-
presses its astonishment at the language which he has
uttered, and which, it says, is degrading to the French
nation. " After having, to please England," it says,
" taken an officious and improper part in the Texas
affair, he anmounces that France will remain perfectly
neutral on the question of the Oregon territory, whereas
it is her interest to prevent either England or the
United States from taking possession of it."
We regret to find from the Paris papers that
the accounts received at Marseilles, of a serious
calamity having befallen a division of the French army
in Africa, are to a certain extent confirmed, but the loss
of life is not so great as was at first believed. An offi-
cial account of the disaster has been received by the
Government, and is thus abridged in the papers :

" The Minister of War has received a report from Gene •
ral Levasseur, dated Setif, the 10th instant, giving an ac-
count of a melancholy catastrophe which had befallen the
column of men, 1,200 strong, under his orders. The Ge-
neral was returning to Corstantina, after several suc-
cessful attacks upon the rebel tribes, when his troops
were, on the 3d, caught in a snow-storm of such vio-
lence and long duration, that a great number lost their
lives from cold and exhaustion, and a considerable num-
ber reached Setif in such a state of suffering, that they
were immediately placed in the hospital. The General
says that he was not able, at the time of writing his re-
port, to give a correct return of the dead, as many who had
been given up for lost were hourly coming in ; but, according
to a letter from Setif, of the Bth, in the Semaphore of Mar-
seilles, the number who had perished amounted to a hun-
dred, and many of those who had arrived at Setif and had
entered the hospital were in such a sad state, with their hands
and feet frozen, that their recovery was considered impos-
sible. According to the report of General Levasseur, how-
ever, the cases in the hospital were not serious. The Sema-
phore adds, that fears of a similar disaster were entertained
for a column which had left Setif some time ago, under
General d'Arbouville."
The Algerie gives a sketch of the disastrous affair, which
corresponds with the above, but it includes a statement that
thirty officers had been taken into the hospital at Setif, with
their extremities frozen—the detachment of the African chas-
seurs had five men and several horses killed by the cold ; of
the waggon-train fifteen are dead; of the 43d of the line,
which was making its first campaign in Africa, the grenadier
company has almost entirely disappeared, and nearly all the
muleteers put in requisition have perished. The Algjrie
states that on the Bth more than one-third of the column had
not got back to Setif, consequently the fate of 800 men re-
mained unknown.

" The Courrier Francais, after giving the lamentaMe ac-
counts from Setif, adds the following :—" It is said that an
epidemic disease has attacked the village of Foudouk, and
carried off no fewer than 400 victims. Such a visitation is
the more surprising as this small colony is situated to the
east of the plain of Metidja, in a well-watered and fertile
country, believed to be peculiarly healthy. It is to be feared
that the Marabouts who go about preaching in all parts of
Algeria will avail themselves of this sad news, by holding it
out to their fanatical hearers as a prognostic of the coming
vengeance of the Prophet upon the infidels.' "
The Three per Cents. closed on the Paris Bourse on Thursday,
at 83f. 10c. ; the Five per Cents. 121 f. 55c ; the Orleans Railroad
Shares, 1,263 f. 75c. ; Rouen, 1,030 f.; Havre, 747 f. 50c.; Avignon,
985 f. ; Vierzon, 710 f ; Bordeaux, 645 f. ; Boulogne, 555 f. ; Troyes
and Montereati, 457 f, 50c. ; Basle, 254 f. ; Great Northern, 7561. 25c. ;
Fampoux, 505 E; Spanish Three per Cents., 36%.

The following are the quotations for other lines:—

Paris and Lyons, definitive, 6251. ; the Paris and Strasburg, defini-
tive, 5501. ; Tours and Nantes, definitive, 575 f. ; Lyons and
Avignon (Talabot), 5101. ; ditto (Lecointe), 506 f. 50c, • ditto (Corn.
' pagnie Meridionale), 503 f. 50c. • Bordeaux and Cette (Mackenzie),
502 f. 50c. ; ditto (Espeleta), 508 f. ; Charleroi (Kysaens), 498 f.; Caen
(Delamarre), 502 f. 50c.
LYONS, JAN. 20.--Marseilles and Avignon, 990 f.; Paris and Or-
leans, 1,262 f. 50c.; Paris and Rouen, 1,0351.
BUSINESS DONE IN FOR ED:N RAILWAYS AT THE
LONDON STOCK EXCHANGE, JAN. 23.
_ _

Bordeaux, Toulouse, and— Cette (Mackenzie's), 2% —Ditto (Es-
pieta's), 214—Calcutta and Diamond Harbour, 4 p —Ceylon, 1%
Dutch Rhenish, B—East Indian, 1% —Great Northern of France
Constituted, 1414—Great Western Bengal, 1 Luxembourg, 2%
Madras, % p.—Orleans aid Vierzon, 171,E - Orleans and Bordeaux,
1134 —Paris andiLyons (Latlitte's), 2% —Rouen and Havre, 28.

It is strongly rumoured that the statement of the
Commercial policy of the Government, now fixed for
to-morrow, will be deferred for a week. We are unable
to state the reason for the postponement, but we hear
there is little doubt of it.

SIGNS OF THE TIMES.—The recent meeting at Norwich,
where the protectionist party was so signally defeated,
caused no heartburning nor jealousy on the aide of the
discomfited leaders of the agriculturists. The principal
actor on that side, desired that his opinion of Mr. Cobden
should be conveyed to that gentleman in the following
terms:—" Tell Richard Cobden from me, that he is the
honestest man in the House of Commons—if not almost
the only one." We vouch for this fact.

The composer Verdi is expected in town this season,
having- been retained by Mr. Lumley to produce a ne w opera
at her Majesty's Theatre.

MONEY and COMMERCIAL NEWS.
(From The Sun of Saturday Evening.)
The sales of Cotton at Liverpool yesterday were 7.000
bales, nearly all to the trade, and for which full prices were
obtained. Shares have been heavy.
The Bank of England weekly return to the 17th inst. pre-
sents the following leading features :-
Notes issued-Increase ..... £32,710
Other deposits-ditto 598,411
Seven day and other bills-ditto . 11,473
Bullion-becrease ....... a4....1•••1111.•••4•••• 54,007
The following are a re* of the prices for Railway Shares
realised yegterday afternoon at Messrs. Lamond's auction :-
Calcutta and St. George's Point, 113. 6d.-Great North aid
South Wales and Worcester, 6s. 6d.-North Jamaica, 2,-
West End and Southern Counties, 9s. 6d.-Liverpool and
Leeds, 11. 195.-Reading and Reigate, IL-Chester and Man-
chester, 1/. 58.-Madrid and Valencia, 11. 44.6d.-North-
ampton, Bedford, and Cambridge, 11.75.-Direct Western, 2L
-Manchester, Huddersfield, and Great Grimsby, IL 165.-
Cambridge and Oxford, 195.-Dublin and Armagh (Inland),
12s. 6d.-Worcester, Hereford, Ross, and Gloucester, 1/. 12s.
-Newport and Abergavenny, 11. 155.-Southampton, Maw-
chester, and Oxford, 19s. 6d.-Direct East and West Junc-
tion, 19s. &1.-Kentish Coast, ls. 6d.-London and Man-
chester (Rastrick's), 41. Is. 6d.
The Public Securities have been rather firmer, but there
has not been much doing. Consols have teen 94 to 94
for present transfer, and 94% to % for time. Exchequer-
bills have been 19s. to 225. premium ; New Three-and-a-
Quarter per Cents. are 96% to 1%, and the Three per Cents.
941, to 34. Bank Stock is quiet at 205.
Spanish Bonds and the Peninsular investmen s generally
are quite neglected. Brazil Stock is at 82%. Venezuela
Bonds are 421.
The Share market has been rather drooping again.
ONX CLOSING
BRITISH FUNDS. O'CLOCK. PRICES.
Bank Stock . • • • • • • • • • • . .. 205 205
Three per Cent. Annuities ..
.. . 94%% 94%
Three per Cent. Consols Annuities .. .. 941 A 94 94
New Three-and-a-Quarter per Cent. Anns. 96% %% % 96%
Long Annuities, Expire Jan. 5, 1860 .. 10% 10%
Ditto, 30 years, Jan. 5, 1860 .. .. 10 3-16 10 3-16
India Bonds, 1,0001. .. .. .. ..
.. _ 25
Consols for Account .. .• • • • .. 94%%% 91%
Exchequer Mils. I%cl. I%d.
1,0001... • • - •• •• 22 19 21 - pm. 19
5001... • • - •• • • 28 22 - - pm. 19
Ditto, Small - •• • • 20 22 - - pm. 19
ONE CLOSING
FOREIGN FUNDS. O'CLOCK. PRICES.
Brazilian Bonds, 5 per Cent .. .. 82% 82%
Danish, 3 per Cent •• • . .. .. 895 894
Equador Bonds .. .. ..
..
.. 34
3%
Grenada, 1 per Cent .. .. ..
.. _ -
Ditto, Deferred .. .. •
Mexican Bonds, 1837, 5 per Cent .. - 30
Ditto, Deferred .. .. ..
.. - 16%
Portuguese Bonds, 5 per Cent .. .. - -
Ditto, for the Account .. ..
.. _ 601 x,
Spanish Bonds, 5 per Cent .. .. - _
Ditto, Passive Bonds .. .. . 6%% 6%
Venezuela Bonds, 2 per Cent .. .. 42% 42%
Ditto, Deferred .. .. .. .. 12%% 12%
Dividends on the above payable in Loudon.
Dutch Two-and-a-Half per Cent .. - 60
Ditto, for the Account .. .. .. - 59%

PRICES OF BUSINESS ,
CLO,ING PAID. DONE AT PRICES.
RAILWAY SHARES. ONE O'CLOCK.
Aberdeen .. 5 .... 5%•••• •• •• 5%

Amber., Notting., Boston and

Eastern Junction 2%.... 3 2% • •
Bideford and Tavistock 1% .... 0% ••••• • • • • O%
Birmingham and Gloucester.. .. 100 ....130 •••• • • • • l3O
Birmingham and Oxford Junction 2 .• 3% 3. •••• • • • 3%
Bristol and Exeter 70 .... 84 83 843( 84%
Buckinghamshire ..• 425. .. • • %% P
Caledonian .. 10 .. • • 14
.S!ii ••. • • • IN

Ditto Extension ,

24.... 31A4

_ .. .. _ . _ • -
Chester and Holyhead .. . • •• 15 ••••7, :• • ***** • 15Z
Chester and Manchester .. .. 428. •• • • radie ••• • • • % dis
Cornwall and Central Devon .. 2% .• •• ••••• • • • • • 1%
Direct Manchester (Rastrick's) .. tsi •• •• 4 '' •• ••'• • • 4
Direct Northern .. .. .. .. 2% .• • • 24•••• • • • • • • 2
Dublin and Belfast Junction . • 5 •• • • 6% •**• • • 6%
Eastern Counties .. .. 14L 168. .... 22.1,4 %%•• • . • • 22

Do. Perpet., 5 per Cent. No. I. 61 13s. 4d. % p......... % p
Ditto, ditto, .. .. No. 2. V. 13s. 4d.
,1A % P % p
Edinburgh and Glasgow .. 50 •• • • `— •• • .......
Ditto Shares .. .. 5 •• • • 15 ••••• • • • • • Is

Ditto New 14 Shares.. .. .. 7% ••• • ••••• • • • • • 12%
Edinburgh and Perth .. .. 3 ••• • •••••• •• • • 434
Glouc., Aberyst., &Cent. ofWales 1% .... 1 ........„ 1
Goole, Doncast., and :••heftleld,&c. 425• •• • • 1% p l% p
Grand Union (Nottingh. & Lynn) 1% •• • • IN l%
Great Southern & West. (Ireland) 15 .... 22 .. ....., „ 22
_ __

, .
Great North of England .. ..100 • •
Ditto, New •• .. .. .• 5 •• • • 50%.. SON
Ditto, New .. .. .. .. 5 .... 32% 33 32.... 32
Great Western .. .. .. .. 85 • 163
Ditto, Half shares .. .. .. 50 .... 90
Ditto, Quarter Shares .. .. 5 ••••1920• • • • • • • • 20
Guildford, Fareham, &Portsnaoth 5 .• • • •..• • • 5%
Hull and Selby .• .• .. .. 50 ~.•
Ditto, Halt hares .. .. .• 7 •• • • 27 •••••• • • • • 27
Leicester and Bedford .. .. 225. .... N p
Lei ester, Tamworth, &c. .. .. 425• •• • • 1i 13• ••• • •
Liverpool and Leeds Direct .. 2% •••• .....
Liverp., Stanch., & Newc. Junct. 234 •• • • • • •
London and Birminghatn .. ..100
Ditto Fifths .. .. .. .. 2 .... 233% 23 ...... 23
London and Black wall .. 161. 13s. 4d. 9% 9 .. „ 9
Ditto Extension :. .. .. 3 •• • . 3,e •
_..3
London Id Brigh „. 50 67;4 .. .

andon any Agliton - •• • • - -••••• • • • .. 67
Ditto ditto Fifths .. 10 .... 20% 20 ...... 20'
London and Croydon .. 131. 15s. 9d. 2214 % 22%
London, Hounslow, & Western . • 2 •• • • 1;61,4 •••• • • • • 1 M
London and South-Wes'ern.. 411. 6s. 103. .......... 77

MU*, New ConsoLEighths .. 28 .... 42 .
London and York .. 414
_ .

-.
London and Windsor .. .. .. 1 •• • • 14'. .• • M
London, Warwick, &Kiddermins. 2Y2 •• •. 24 ......... 2 4
London, Salisbury, and Yeovil .. 2%.... . , • 2%
Manchester and Leeds.. .. .. 82 .... . , —

Ditto, Fifths .. .. .. .. 1 .• • . 12% 21%
Manchester and Birmingham .. 40 •• • • 77 q .
Ditto, Quarter Shares .. .. 4 .... 11 IA
Ditto, New Quarter Shares .. 2 .. —9%.... 9%
Manchester, Buxton, & Matlock 425. .. • . 2 13( p...... 134 p
Manchester and Southampton .. 2 .. • • 3 .......... 3
Midland .. .. .. .. .. .. 100 ....152 153........ 153

Ditto, New .. .. 12 .... 28 29 . 29
Ditto, Birmingham and Derby 100 —.122% 122...... 122
Newcastle and Darlington Junct. 25 .......... 58N
Ditto, New, Brandling .. 28 •• 531/4N . 53%
Newcastle and Berwick .. .. 10 .... 21% 21 21%
Newark, Sheffield, and Boston .. 2% 2%3 %.. 2%
North British .. .. 17 LA 24% 24N

Ditto, Half Shares .. - 7M ...... • .
Ditto, Carlisle Extension .. 3........ 3
North Kent and Direct Dover .1 • 2)4 .. • • 3)4 ••• • • • .... 3).4
North Staffordshire .. • • 425..... 3Y2 p• • • .... 3% p
Norwich and Brandon .. 18 .... 25 .......... 25

Northmpton,Banbury,&Chelthm. 2 .... ..........
Preston and Wyre .. .. .. 25 .... 35 ..

Richmond

.. 15% 16% ....

Shrewsbury and Birmingham .. 2% 3,13
Shropshire Union .. .. .. • .. • 42A..... •• • • 'A 13• ••,. , „ • p
Somersetshire Midland . • .. 2% 3
South Midland • • .. 42,5. p...... 2% p

South Eastern and Dovor .. • • 38% .... 3814 -
Ditto, New (iss at 321.) No. 1. 15 19% %
Do., New (do. 331. 68.8 d.) No. 2. 10... 131 A .... 131 A
1)o., New (do. 151.) .. No. 4. 2%.... 314%.
South Wales . • • • • • • • • 2% •• • • 3 •• .. 314
Trent Valley and Holyhead June. ....
Welsh Midland .. •• • • 2% ••••2 1 Y. • • 1Y

Wilts, Somerset, and Weymouth
Yarmouth and Norwich .. •• 20 .... 27
York and Carlisle • • ..
.2% 3

York aed North Midland .. • . b 0
Ditto, Extension • • • • •• 15 .... 40
FOREIGN RAILWAYS.
Bord., Toul., & Cette (Mackenzie) 2 .... 2
Ditto, ditto (Espelete) .. 2 •2
Demerara • . • • • • • • • • 2% ....

Dutch Rhenish •• •

East Indian .. • • • • • • • • Ss. .... 1% ...... .... 1%
Grt. North. of France Constituted 5 ....15 14%54 ...... 14 V,
44reat Indian Peninsular • . • . ss. .... N
Great Western Bengal • • • . ss. .... % i ..
Jamaica South "Midland Junction 1 .. • . 4 . .
. ...
Luxembourg • • • • • - • • 4 .... 2%.
__.

Namut and Liege

4 3 .......... 3%

Paris and LyonS(Laffitte's) • • 2 .. .. 2 2g
West Flanders • • • • • • • • 4 .... 5 . .... . 5

MINES.
Real dcl Monte, Unregistered . , .... 4
....

THE QUEEN'S SPEECH.

We are indebted to our much-valued and enterprising
friend, Mr. Murdo Young, the spirited proprietor of The
London Sun, for an early edition of that journal, containing
the Queen's Speech at the opening of Parliament yesterday.
Besides the Speech from the Throne, the Third Edition of
The Sun of last night contains nearly nine columns of
Parliamentary debate! This, indeed, is enterprise.—Hull
Advertiser.

We are indebted to the Proprietors of The Sun for an ex-
pressed copy of that paper, containing the important Par-
liamentary intelligence inserted in another colum.—Some•set
County Gazette.
" THE Su c."—We are indebted for the report of Sir Ro-
bert Peel's speech, in our columns, to an Express Edition of
The Sun of Thursday.—Leeds Mereury.
We gratefully acknowledge the kindness of the pro-
prietor of The Sun newspaper, in transmitting copies of his
paper, yesterday evening, by express, from which we tran-
scribe her Majesty's Speech. The Sun's energy on all similar
occasions merits the warmest acknowledgment.—Nottingham
Review.

And/now, good reader, referring you to the Parliamentary
intelligence—for the rest we ask thee to join with us in cor-
dial thanks to Murdo Young, the brilliant Sun light of the
Press, for that Express Edition of his, which enables us to
convey to thee, withi❑ 18 or 19 hours after the speech of the
Minister was delivered, a summary of its contents 200 miles
from town.— Western Times.

(FROM A CORRESPONDENT.
DERBY, FRIDAY NIGHT.—I do not recollect any former
Queen's Speech causing so much anxiety, and exciting so
much attention as the one delivered on Thursday by our be-
loved Queen. "What will the Queen be made to say?" was
in everybody's mouth, and great numbers of people waited
the arrival of Tie Sun express, on Thursday evening, with
the utmost impatience. To-day has been the usual weekly
market. The contents of the Speech, indicating, as they do,
the advent of a large measure of free trade, have been read
with great satisfaction by everybody who is not a monopolist,
and many farmers exclaim, "Nell, better have it settled at
once than go on by driblets." The Tory monopolist squires
are perfectly rampant. They abuse Peel unmercifully, allege
that he has betrayed them, and would infinitely prefer an
open foe to an enemy, like Peel, in the garb of a professed
"friend." They think there will be a fight for it yet on the
hustings. and hope still to defeat his measure, be it what it
may. The general—all but universal—hope is, that Peel's
measure will be at once comprehensive and final, and that it
will be clogged by no unseemly provisions. Should this hope be
disappointed, the working
classes will meet en masse, and
speak in terms not to be misunderstood. All parties concur
that a crisis" has arrived of no trifling character, and the
free-traders here are resolved to persevere with determination
and rigour. " Hurrah for free trade!"

We are desired to correct an account, which first ap-
peared in a country paper, of a late melancholy event near
Highworth, Wilts. The reverend gentleman who fell from
his horse and expired was the Rev. G. Thomas, of Bishops-
town, near Swindon, and not the Rev. Vaughan Thomas, of
Oxford.
HEE. MAJESTY'S THEATRE.—The rumour of the in-
tention of converting the pit of her Majesty's Theatre into
stalls, was never even contemplated ; and it arose from several
hundred more applications having been made for stalls than
the number at present existing.
CHATHAM, JAN. 28.—The Poictiers, 74, ordinary
guard-ship, the crew of which were on Thursday, the 22d inst.,
!mid wages down to six months, arrived. The Rochester,
Grandy, master, arrived on the 21st inst., with stores, from
Woolwich. The Cressy, 80 guns: Tb.e timbers of the frame
for , ship are being removed to the first slip (from
whence the Bulldog steam-ship was laut..ched), and the keel
will be immediately laid down. The Cuot erland, 70 guns,
fitted for an advanced ship, is completed, and will be un-
docked next week. The Raleigh, 50 guns, is nearly com-
pleted, and is expected to be undocked rood week. The
Calypso, 20 guns, Captain H. Worth, and the Scout, 16
guns, Commander William Loring, are progressing in their
equipments, but no day is yet named for their leaving the
rd.
A very serious accident took place bete reen Mer-
thyr and Tredegar, on Tuesday morning, by the break-
ing through of a large pond. The water rushed with
terrific force, carried away two small cots, drowned an
aged woman, and delayed for a considerable 'time the
London midi.

COURT CIRCULAR.

The Queen held a Court on Saturday afternoon, at
Buckingham Palace, for the receptiun, on the throne, of
Addresses from both Houses of Parliament.

The Lord Chancellor and the deputation from the
House of Peers arrived at the Palaco at half-past two
o'clock. The Noble and Learned Lord wore his gold
robe, and was attended by Mr. John William Birch.
Clerk,-Assistant of Parliament ; Sir Augustus Clifford,
Bart., Gentleman-Usher of the Black Rod; the Sergeant.
at-Arms ; and also by his Purse-bearer and Secretaries.
The deputation was conducted to the green drawing-
room.

The Queen was conducted to her seat on the throne
by the Lord Chamberlain, the Lord Steward, and the
Vice-Chamberlain, Prince Albert being by her side. Th•
Duchess of Buccleuch, Mistress of the Robes, and th(
Viscountess Jocelyn, Lady in Waiting, stood behind her
Majesty, on her right ; the Ministers and Officeri of
State stood on either side of the throne, and her Ma-
jesty's Honourable Corps of Gentlemen-at-Arms lined
the room, commanded by their Captain, Lord Forester.
The deputation from the I'eers were conducted by Sir
William Martins and Mr. Heneage, Gentlemen Ushers
in Waiting, to the door of the throne-room, where they
were received by the Lord Chamberlain. who conducted
the deputation to the presence of her Majesty.
The Lord Chancellor advanced, supported on his right
by the Earl of Home, mover of the address, and by
Viscount Hawarden on his left, and followed by the
other Peers, including the Duke of Wellington, the Earl
of Ellenborough, and the Earl of Dalhousie. The Noble
and Learned Lord read the address from the House of
Lords.

Her Majesty returned a most gracious answer, and the
deputation then retired with the usual reverences.
The Speaker of the House of Commons arrived at the
Palace in his state co ch, and was accompanied by a
deputation of Members, and attended by the Sergeant-
at-Arms (bearing the mace), and the Chaplain to the
House of Commons, and also by his Secretary and
Train-bearer. The Right Hon. Gentleman wore his
state robe of office. The deputation were conducted to
the picture gallery.
After the presentation of the Address from the House
of Lords, the deputation from the Commons were
ushered to the entrance of the throne-room ; and were
conducted by the Lord Chamberlain to the presence of
the Sovereign on the throne.
The Right Hon. the Speaker advanced, supported on
his right by Lord Francis Egerton, the mover of the
Address, and on his left by Mr. E. Beckett Denison,
the seconder ; and followed by Members of the House
of Commons, including Mr. Brotherton, Mr. Thornely,
Dr. Bowring, Mr. Moffatt, Mr. W. H. Bodkin, Mr. Wil-
liams, Mr. Sharman Crawford, Mr. Forster, Mr. J. J.
Trelawny, Mr. T. C. Granger, Mr. Marsland, Mr.
Ewart, Mr. Hume, Mr. Busfield, Mr. Walker, The
O'Connor Don, Mr. Borthwick, Mr. Dennistoun, Mr.
Maitland, Mr. Crompton Stansfield, Sir George Clerk,
llon. Henry Manners Sutton, Mr. Cardwell, Mr.
Stanton, Mr. Ainsworth, Mr. Milner Gibson, Captain
Gladttone, and Lieutenant-Colonel Thomas Wood.
The Speaker read the Address from the House of
Commons. The Queen returned a most gracious an-
swer, and the deputation retired from the royal presence.
The following Ministers attended the reception of the
Addresses:—The Lord President, the Lord Privy Seal,
the First Lord of the Treasury, the Commander-in-
Chief, the Secretary of State for the Home Department,
the Chancellor of the Exchequer, the President of the
Board of Control, the Chancellor of the Duchy of
Lancaster, the Chief Commissioner of the Woods and
Forests, the President of the Board of Trade, the Sec-
retary at War, and the Postmaster-General.
Her Majesty gave audience to Sir Robert Peel.
The Court was attended by the Lord Steward, the
Lord Chamberlain, the Master of the Horse, the Groom
of the Stole to Prince Albert, the Marquis of Anglesea,
Gold Stick in Waiting ; the Vice Chamberlain, the
Treasurer of the Household, the Cornptreller of the
Household, the Marquis of Ormonde, Lord in Waiting ;
the Marquis of Granby, Lord in Waiting to Prince Al-
bert ; Sir Henry Robinson, Lieutenant of the Hon.
Corps of Gentlemen at Arms ; Sir George Lee, Lieu-
tenant of the Yeomen Guard ; the Clerk Marshall, Ad-
miral Sir Robert Otway, Groom in Waiting ; Captain
Francis Seymour, Groom in Waiting to Prince Albert ;
Colonel Buckley, Equerry in Waiting ; Colonel
Bouverie, Equerry in Waiting to Prince Albert ; Mr.
James Bunce Curling, Adjutant of the Honourable
Corps of Gentlemen at Arms ; Colonel Knollys, Field
Officer in waiting ; Sir Benjamin Smith, C. S. Mr.
Wortley, and the Honourable Mr. Forbes, Pages of
Honour in Waiting.
The Yeomen ( f the Guard were on duty, commanded
by the Exon in Waiting, Sir Samuel Hancock.
The Queen's Guard of the Grenadier Guards at-
tended on the lawn in front of the Palace.

The royal dinner party at Buckingham Palace on
Saturday included the Earl of Ellenborough, the Earl of
Jersey, Viscount and Viscountess Canning, Viscount
Jocelyn, Lord and Lary Francis Egerton, the Right
Hon. Sir Robert and Lady Peel, and Colonel the Right
Hon. G. L. Dawson Damen

Prince Albert rode out on Saturday, attended by Col.
Bouverie, Equerry in Waiting.
The Prince of Wales, the Princess Royal, and the
Princess Alice were taken an airing on Saturday in an
open carriage and four. Prince Alfred was taken in the
royal garden. The Royal Family were taken their usual
exercise yesterday.
Her Majesty and Prince Albert, the Ladies and Gen-
tlemen of the Court, and the domestic household, at-
tended Divine service yesterday morning in the private
chapel of Buckingham Palace. The Hon. and Rev. C.
Leslie Courtenay officiate d.
Her Royal Highness the Duchess of Cambridge, at-
tended by Baron Krrsebeck and Mr. Edmond Mildmay,
arrived at her residence at Kew, at seven o'clock, on Sa-
turday evening, from Calais. Their Royal Highnesses
the Duke of Cambridge and Prince George received the
Royal Duchess at Kew.
The Duke de Sotomayor, Spanish Minister, transacted
business at the Foreign-office on Saturday.
Dispatches were received yesterday at the Colonial-
office from the Governors of Hong-Kong, Ceylon, the
Mauritius, and Malta.
Mr. Dean, Chairman of the Customs, Mr. John Wood,
Chairman of the Excise, and Mr. Wickham, Chairman
of the Stamps and Taxes, had interviews with the Chan-
cellor of the Exchequer on Saturday.
Dispatches were sent off on Saturday evening from the
Colonial-office for the Governor of Hong-Kong►.

The Duke of Wellington and Sir Frederick Trench
attended the early service yesterday in the Chapel
Royal, St. James's. The sermon was preached by the
Rev. Dr. Wesley. lAt the daily service the prayers wet
read by the Rev. C. Macke, the lessons by the Rev. J. C.
Haden, and the communion service by the Bishop of
London and the Rev. Dr. Sleath. The sermon was
preached by the Bishop of London. The anthem The
Lord is King" (Arnold) was sung by Messrs. Barnby,
Bennett, and Bradbury. Mr. Tune presided at tte
organ. The Marquis of Winchester, the Earl of Wilton,
Lords Ernest Bruce, and G. Paulet a ere among the no-
bilit) present