The Sun.
London, England, 1848-03-22 00:00:00

CONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE..
Ths Cotton Market at Liverpool yesterday was heavy,
the
being 2,500 to 3,000 bales, and Arnerlcee
Nlling at 40. to 6d. per lb.—Railway Shares were du",
"d Prices were still declining.
)et bees
private advices by the Overland Mail have not
wilt delivered, but there is sufficient in the news-
Paper summaries to prove that matters are in a very
"vourable state at Calcutta, although rather better
, 4
Madras and Bombay than might, perhaps, have been
7, Pseted. Money was scarce in the first-mcntioned
City,,. and the Union Bank appears to be a complete
offsek, the worst indeed that we remember in the annals
f f b
es,i linking. Misappropriation of funds, a combination to
so the prices of the shares, and a deliberate mitre-
t.esentation of the accounts are among the acts of the
t; directors, and it need not excite surprise that in
i.,
eutta there was a general feeling of indignation.
,Lue shareholders appear to be threatened not only with
us less of their original capital, but likewise with tre-
wendous sacrifices.
Some disappointment is felt at the statements in the
American papers, per Ivanhoe, relative to the uncer-
ntY as to peace with Mexico being concluded upon
s terms of the proposed treaty, but there is a hope yet
'aast an arrangement will be come to.
Some of the Continental mails of this morning are
still du© although the news from Belgium respecting
the suspension of cash payments has just been received.
Li?e measure is one of precaution, but may have, especi •
'II if followed in other continental kingdoms, the *ff. et
°f drawing specie from England, an occurrence that
twoula induce an advance in the currant rates of discount
Eire.
The necessity of revising taxation is now so generally
telmitted in England, that the main point is as to the
st means of effecting the desirable end. To dispense
With indirect taxation is not yet agreed upon as the best
rifh, but a party advocates it strongly, in a pamphlet en-
titled " A Budget of Two Taxes only. lie states that--
t " The plan hero submitted, and which is well adapted
athese retuirements, consists in the abotion f the
Whole of the taxes knownas customs and e lixcise,o toge-
ther with the assessed taxes and all local taxation—such
..411 Poor-rates, repair of roads, church and county rates,
wuct to raise the supplies necessary for the national
?"tion of rants by the simple machinery novr applied to the col-
the stamp-tax ; which, as being easy of col-
iectlon the least oppressive and le, st felt, would re-
main as at present, merely extending the legacy duty
/45 all property, and equalizing it at 10 per cent.
his alteration would equalize the amount at pre-
sent deducted. from one class of legatees, and
extend its application to a class now most un-
fairly and unjustly exempted from its operation by their
OWII class Legislature. The imports would double in
the second year, and the rewards of labour would be
Greatly increased, both in actual remuneration and in
Cheaper living. This tax would produce, at the very
least, 24,000,000/. per annum. The tax upon property,
fixed at 10 per ,cent., and the tax upon income, at 5 per
"lite upon all property and. every income, would be
Most just, as all would benefit—the rich equally, though
je a different manner, with the less affluent. This tax
Would like Wise produce, at the least, 24,000,0001., the
value of the property of the United Kingdom being esti-
mated at 5,000,000,0001.
" Taking the expenditure as at present at fifty-one
which by judicious reductions may be with
teas, and without the slightest disturbance, or impairing
the efficiency of needful services, be reduced to forty
Millions; with eight millions for the support of efficient
institutions for education and employment, due by the
State to the people, and for the maintenance of a more
Perfect system of roads, repairs of edifices devoted to
Public instruction, and to other local expenditure, we
hare a grand total of 4e,000,008/., leaving the public
debt untouched."
The English Funds have decidedly advanced, and
there is a more active business doing. Consols for
transfer ha,'e ranged from 814 to 814, and for time
trim 814 to 82. Exchequer-bills have realised 235. to
173. premium, being again lower. India Stock for ac-
Count is at 233.
The Foreign Securities have been also better. Spanish
Five per Cents. have been 12i to I, and the Three per
Cents. at 22i. Portuguese Four per Cents. have been
141. Brazil Stock is at 70. Dutch Two-and-a-Half per
Cents. are 414 to 414.
Railway Shares are in a few instances a shade higher,
but North-Westerntand Great Western are again excep-
tions. Brighton are steady.

CLOSING
PRICES OF BRITISH FUNDS. PRICES
a per Cent. Reduced Anna.— .. 80xd
3 per Cent. Console Annuities.-- 81% N % 7.„ % 8 %
1
Row 314 per Cent. Inns. — 81%xd
Long Anne. to expire J an. 1860 ..• _
Ditto 30 years, Jan. 5, 1860.... 8 9-16 6 7-16
India Bonds, 1,000/. ....... ..
Ditto under 1,000/... ...... .-.... 10 p le p
sank Stock for Account ... ..• 191
Consols for Account ..... 81342%%% 82 813 21i
India Stock for Account 233 233
Exchequer Bills. 3d.
1,0001. March ...... . •
1,100/. June 27 23 p
6001. June 23 p
UNE (
PRICKS OF FOREIGN FUNDS. O'CLOCK.
Brazilian Bonds
Equador Bonds
Grenada Bonds, 1 per Cent. —
Ditto, Deferred —
Mexican, 5 per Cent. 1846 "'Atli
Peruvian Bonds, 6 per Cents 22
Portuguese 5 per Cents. —
Ditto, 4 per Cent 14%
Russian Bonds ... . . .... .:.
Spanish 5 per Cent. 1840.
Ditto. Account ...... .. 12%
Ditto, Passive,. 3%
Ditto; 3 per Quit ........... 22%
Dividends on the above payble in London.
Belgian 4% per Cent .••••• ••
6 61
Dutch 2% per Cent., 12 Guild.... 411,011 41
Ditto. 4 per Cent. Certificates 61% 61%
PRICES OF BUSINESS DONE CLOSING
RAILWAY SHARES. FAIR' AT ONE O'CLOCK. PRICES.
Aberdeen
Amber., Nott., Boston,.
and Eastern Junetion 314. %
Ayrshire and Galloway.. 2% — .
Belfast & County Down 11%..•.••
Birmingham and Ox-
ford Junction ....- ~. 20
Birmingham, 'Wolver-
hampton, and Dudley 10 .....
Eirming.,Wolverh'pton,
and Stour Valley ..:••• 10/. 14a...
...
Birkenhead, Lancashire,
and Cheshire June.... 7N,...••• ... . ... .
Boston, Stamfd & 13irm. 5
Bristol and Exeter...,.. 85
Ditto, Thirds .... ..... 20
Buckinghamshire... 12/. 45.
Caledonian ... ............ 50 ... 28
Ditto, Half Shares ..
_334 —

ONE
O'CLOCK.

23 i)
CLOSINO
PRICES.

.iitto, . _
Ditto,Clydesdale June 50 -
Chester and Holyhead... 37 %•••••• -
Ditto,. Preference...... 12
Clarence -
Do. let Class, 6 per Ct. 10 -
Do. 2d Class, 5 per Ct. IS -
Do. Government LOttn,
4 per Cent. -
Direct London & Ports-
mouth - •• ••••
Doblinand Belfast June. 25 ...... -
Dandalk & Enniskillen .17%.....• -
East Anglia, 251., L. &
E. and L. and D...... 25 ...... •-• •.• •
Do., 18/., F. & H, ... 18 -
D0.,.3/. 10s. ... .... . . 3% •••• - ... ........ -
'Castel-11 Counties... .:.. . 20
Ditto,Extension,s per
Cent., No 1...... 6/. 13s. 4d.... par
Ditto ditto, No. 2...61. 13s. 4d...
Do., North. & Eastern 50
Do., Quarters ..- ..... 12% -
Do., New 23 -
&stern Union SO
Ditto, Quarter Shares 12% -
Ditto, Thirds"... ...133.4d. . .... -
Do. (guar. 6 per cent.) 10 - . .... .. .....
Ditto, ditto -
Bast Lancashire
Ditto, New
Ditto, New Quarters 3%..... 1.:!.4
East Lincolnshire ...... 10/2 -
Edinburgh and Glasgow 50 ...... - • •••
Ditto, Half Shares ... 15 .. .. -
Ditto, Quarter Shares 12% -
Edinburgh and Northern 25 -
Ditto, New.. 3ii -
Ditto, Newport l2 - ••.
Ditto, ditto, New 21,4. .... -
Exeter,Yeovil, & Dorch. 2-,0
Ditto, New
Glasgow Dumfries, and
Carlisle - ..... ...... •••
Glasgow,Eilmar , & Ayr 50 -
Ditto, New ..- .... ... 46 -
Do. Preference Consol. lb - • ..... •• r •••
Great Northern
Do., London and York 2% -
Gwent South. and West.
( Ireland)
Great North of England.loo ...... -..
Ditto, New, 40/ 5 -
Ditto, New, 301......... 30
Ditto, New,ls/... ...... 61,4 ...
Great Western 9O ... .. SI 90 90%
Ditto, % Shares 5O .......50
Ditto, 14 Shares ...... 171i(i.. ...15114 15 181,4 15
Ditto, Fifths 2O
Ditto, New 17!........ 9%... .. 7%%
Huddersfield and blanch. 21 ..... • -
Ditto Thirds - , ,
Hull and Selby .. ...... 50 ......• 97
Ditto, Half Shares ... 25 .....• -
Ditto, 1,4 Shares
Ipswich & Bury St. Edm 17%....•.
Do., do., and Norwich 15 -
Do., do., tkterfs.Scrip
(late Carab. & Ely) 24 -
Lancaster and Carlisle... 50 •. ' ..... - ~... ,
Ditto, Thirds -
Lancashire & Yorkshire 93 -
Ditto, ditto - ...... .....
Ditto, 1,4 Shares -
Do. Quarterb_b_ares„, 141 i _
- .•. ...... ,
Do. Fifths... 9 - 714% x.d....
Do. Sixteenths' 61,4 -
Do. Thirds (Reg.)....10/.45...... 7 %sii die
Do. Liverp. and Bnry 38 ...... -
Ditto 1,4 (late-Hud-
dersfield and Shoff.) 33 -
Do.(Wakefirld,Ponte-
fract, and Goole) ... 50 -
Do.(W.llidingUnion)4/.25...... - , ,
Do. (Preston & Wyre) 25 -
Do. % Shares ( A)..., 9 -
Leeds and :Bradford
Leeds, Dewsbury, &c.... 42%...... -
Do., Half Shares 17% .. -
Do., (blue) Scrip 2% - .. -
Leeds and Thirsk - •••.
Ditto, New -
Do., Prefer., 6 per CL 3%..•-• -
Liverpool, Crosby and
Southport . 2 -
Liverp., Manchester, and
Newoutle Junction... 2%. -