The Sun.
London, England, 1848-12-02 00:00:00

THE SUN, LONDON', SATURDA EVENING, DECEMBER 2, 1848

squadron in the Italian seas, prepared, in case of ex-
treme emergency, to offer aid to the great man who
has been rendered the victim of Roman democracy.
Happily, however, it would seem that the prompt
help afforded by General CAVAIGNAC will prevent
the necessity of any further exertion for the protec-
tion of the PONTIFF. According to the French
Consul at Civita Vecchia, Pio NoNo has already
departed from his capital, and is now in all likelihood
on his way to receive the homage and hospitality of
the French Republic.
A more eloquent manifesto in favour of the cause
of Moderation could not have been issued by General
CAVAIGNAC. It has an eloquence, too, which re-
quires no interpreter—the eloquence of the universal
language—the language of practical magnanimity.
And in the event of M. DB LAMARTINE declaring
himself explicitly for the election of CAVAIGNAC as
President, it would secure at once the discomfiture of
Prince LOUIS NAPOLEON. As yet the Moderate
Republicans should bear in recollection that LAMAR-
TINE stands at the head of the list of candidates.
Nor do we think that that great patriot will on any
account reject the suffrages of his fellow-citizens.
He has himself told us that he has neither the atnbi-
tion to seek, nor the:cowardice to decline, the votes
of the electors. His name is his manifesto. Let
France remember that sentence. And let every
Frenchman, moreover, when dropping his vote into
the urn, call to mind that sublime declaration of M.
GARNIER PAGES If any one shall dare to proceed
to the Tuileries, go myself on that day to
the Hotel de Ville !"

Some time must necessarily elapse before any
alterations can be made in the working of the Irish
Poor-law—before the area of taxation can be ma-
terially increased or diminished. A close and search-
ing investigation must take place before the intro-
duction of any measure on the subject, and it may
reasonably be calculated that six months at least
must pass away before the_ Legislature can pronounce
its fiat upon any of the various plans that may be
submitted for its consideration. No relief, therefore,
can be hoped for during the present emergency from
any anticipated changes in the law. The difficulties
must be encountered with the present materials. It
would be well if the resident gentry of Ireland
became fullyi convinced of this fact, and that they
applied themselves zealously and energetically to
develop the resources of their country, and to convert
them to the most profitable purposes. As we have
repeatedly pointed out, the primary want of Ireland
is full and profitable employment for her labouring
population. She possesses an inexhaustible mine of
wealth in the thews and sinews of her hardy chil-
dren ; but, unhappily, that mine is unwrought, and
although no nation in the world has greater capabili-
ties, there is, perhaps, no other in which
these capabilities are so generously neglected.
Some blighting curse appears to hang over the soil
that paralyzes the efforts of the inhabitants. In other
lands they will become prosperous and happy, will
exhibit the most persevering industry and resolute
determination ; but on their native shores they remain
apathetic and indifferent while others step in and
seize the prizes which they will not extend their hands
to pick up.
There is no respect in which this want of energy is
more deplorably conspicuous than in the Irish
fisheries, which, if carried on judiciously and
efficiently, would afford ample remuneration
as well to the parties who embarked their capital
in the speculation as to those actually engaged
therein. There was much truth in the old proverb
that " Amsterdam was built upon herrings' bones"--
it was to the large profits realised by the Dutch
fisheries that the subsequent wealth and commercial
greatness of Holland might in a great degree be as-
cribed. It is stated that in the early part of the 17th
century no less than 3,000 vessels, manned by 50,000
seamen, were employed in the fisheries ; and it was
on the coasts of the British islands that they obtained
the greatest success, by which they were enabled to
export no less than 30,000 tons of salt fish. The same
facilities still exist, if they were turned to any beneficial
purposes, but, alas I they are slighted and disregarded.
The bays and harbours by which the coast of Ireland
is indented—the ocean by which it is surrounded—
still teem with fish of the finest description. The
supply is as abundant as when millions of pounds
sterling were realised by Dutch fishermen; but the
means and appliances are wanting which they had at
their disposal, and in the mi Idle of the 19:h century
the Irish fishermen are in every respect inferior to,
and have none of the advantages possessed by, the
Dutch more than two hundred years ago.
It is in the very districts where the dis-
tress and suffering exists to the greatest extent
that the fisheries could be made most profitable, if a
determined and combined effort were made for the
purpose. On the western coasts of Ireland the com-
plaints are the most incessant. Landlords are said to
be nearly reduced to the condition of paupers. The
rents obtained from even the best circumstanced
estates are little more than sufficient to meet the
charges thereon for the maintenance of the destitute
inhabitants. The workhouses are crowded to suffo-
cation—thousands and tens of thousands of able-
bodied men demand out-door relief, an I it cannot be
withheld; for if refused they must perish of starva'ion
in a Christian land. And yet in the immediate vicinity
of these workhouses there is a sea coast' xtending
along many miles, where a cheap and wholesome
food might be obtained almost sufficient to maintain
these countless multitudes : and the stores sent by
PROVIDENCE for their supply are disregarded, while
a universal outcry is maintained respecting their
umhappy position, and unfortunately with too much
truth to sustain it. Surely something should
he done, and that speedily, to correct this anomaly-
Some benevolent members of the Society of Friend:
have taken the initiative, their keen and intelligent
minds readily perceive the vast importance of the
movement, and how much may be effected, if an
impulse is given that will be zealously followed up. The
national gratitude is due to those humane individuals
for their praiseworthy efforts, and in no manner Can
it be better testified than by following up their experi-
ment, and obtaining the great results which no iso-
lated exertions, however meritorious, can obtain,
Curing stations should be provided in every district,
so that a short journey would he sufficient to send the
fish to a place where it might be saved and rendered
really profitable. As far as practicable markets
should be provided, where the pecuniary value of the
fish could be obtained. It is not merely the trouble or
the risk of capturing the fish that renders the Irish

peasant apathetic and careless about employing
himself in the fisheries ; his want of proper boats
nets, and other fishing implements, undoubtedly, have
a very material effect; but the difficulty of disposing
of the produce of his toil also produces very injurious
results. If the take should be a large one it is suf-
fered togo to waste, except the small quantity turned
to immediate use and consumed by his family and
neighbours. There are no means of drying and
saving it, and thus making it available for future
stores there are no purchasers to pay a fair
value. Hawkers, occasionally, visit the fish-
ing stations, and carry off a small quantity
Precariousf favourable
asw e
into the interior in panniers, over the rugged moun-
tain roads, on which no car could travel : but it is a
andhav uncertainea
suggested,
circumstances
the chance,d demand
m nann
dd
isunder
r e thery Ilimited.
t cods t.
ve
Where tnihl miles
twelggestel, stations were established
every ten or
along the western and
coast,soupthaiearndewnin
ready
more
value of the fish would
an
immel,
tor ex.changed for other
be
necessary articles,
most benefi-
baend superior
sftimulus would be
applied that would be productaivee
i
cial results. A better class of voess the
description of nets might in timees
Something might even be immediately
deneprocured.
should in time see the Irish fisheries flourishing,dan awned
profits realized by Irishmen equal to those formerly
obtained by foreigners on her coasts. Some disaP -
pointments may occur; the bad habits that sprung
up through centuries of neglect and mismanagement
cannot be eradicated in a moment. But we are
thoroughly convinced that a constant and unremit-
ting attention to the subject will eventually be crowned
with entire and well-deserved success.

I -
UNIVERSITY or GLASGOW.—The inauguration of
the new Lord Rector of this university, the Right Hon.
T. B. Macaulay, is to take place in January, but the pre.
cise day has not yet been fixed.
BENRYOLENCH OF JENNY LIND.—We understand
that Jenny Lind has consented to sing gratuitously for the
Queen's Hospital, Birmingham, some day in the latter I
part of December.

THE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.
The following telegraphic dispatch was received
by the Minister of Foreign Affairs on Thursday
evening, and was read to the Assembly yesterday by
General CAVAIGNAC

MAR3EILLE3, NOY. 28.
CIVITA VECCHIA, Nov. 26, THREE P.M..--The
Consul of France to the Miniater of Foreign Affairs:—
The Pope departed secretly on the 24th, at five o'clock
in the afternoon. Rome ia calm and indifferent. A
vote of confidence has been passed in favour of the
Ministry. The Pope is on his way to France. The
Tenare has gone to Gaeta to take him on board."
The Journal des Debats of Wednesday was some•
what premature in announcing the success of the two
Bonapartist candidates, the Prince DE LA MOSKOWA
and General PLAT, in the departments of the Moselle
and Yonne. In the Moselle the Bonapartist has been
defeated by the moderate Republic:an, the numbers
at the conclusion of the scrutiny being—
For Captain ROLAND 17,951
For the Prince of MOSKOWA 11,371
while in Yonne, the Legitimist was at the head of
the poll by a large majority ; the numbers being :
M. RANDOT D'AVALON (Legitimist) 7,344
JEROME BONAPARTE 5,729
General FIAT 4,456

M. UZANNE.... .. .. ...
It appears that the report of the return of M. NA
POLEON BERTRAND is also premature, but it is
thought that he will carry the election.
_ _

M. D LAMARTINE has addressed the following
letter to the editor of the Debats:—

" Paris, Nov. 30, 1848.
" Sir,—As it is impossible to reply to all the letters
in which I am asked it I accept the candidature for the
Presidency of the Republic, will you permit me to botvow
your journal, in order to carry my reply to the country?
Here it is. Ido not solicit votes, and do not desire them;
but the Republic may yet have difficulties and dangers
to traverse. There is as great a difference between the
hardihood of soliciting, and the weakness of refusing, as
there is between ambition and devotion. This devotion
commands me not to withdraw my name from the free
choice of the country. I accept,,then, the votes which
may be given to me.

-4" LAMARTINE, Representative of the People.
We read in the Mcraiteur—

" The Liberte inquires if it be true that the French
Government sent a courier to London at the end of the
sitting of Saturday, for the purpose of
,excusing itself to
the English Cabinet for having, without consulting it,
sent troops to Civita Vecchia, and that it grounded such
a step on electoral motives. Such questions merit only the
most profound disdain."

The National Assembly yesterday proceeded to the
organization of the bureaux for the succeeding
month. The Bonapartists started candidates in every
instance. They were all unsuccessful, and the sup-
porters of General CAVAIGNAC were returned by large
majorities.

The 18th aniversary of the Polish revolution was
celebrated in Paris on Thursday by a religious service
at the Church of St. Roth. In the evening there was
a meeting held, which was presided over by Prince
CZAKTORISKY. The principal speaker was MIEROS-
LAWSKT, who has just returned from Posen, and thus
the hero of the last Polish revolution described that
general reactionary conspiracy of the Absolutists
throughout Europe, of the existence of which we
have so frequently warned our readers. " We have just
returned from the enemy's camp," said MIBROSLAWSKT,
and we declare to you that they all understand each
other. Reaction has but one hand and one axe.
Already it is making use of the arms of our misled
brethren. It is for you to choose. Will you have as
your van guard five hundred thousand soldiers like
those of SOBIESKI or KOSCIUSKO or will you have
among your enemies five hundred thousand grape
shot firers more like those of NICHOLAS, of WEAN..
GEL, of JELLACIIICIL"

BANK OF FRANCE.—The following is a return of
the situation of the Bank of France on the 30th of
November, 1848:--

ASSETS.

Cash and ingots
Ditto in branch banks
Bills over due ••• ••• •••
Bills falling due in Paris, of which
15,892,957 f. 92c. are from the branch
banks 64,871,522 69
Bills in the branch banks ... ... 108,950,602 67
Advances on coins and ingots... ... 13,917,585 00
Ditto on French public securities ... 33,772,046 65
Ditto by branch banks... ... 1,572,342 00
Ditto to the State on Bons du Tresor... 50,000,000 00
Ditto on the loan of 150 millions ... 50,000,000 00
Rentes of the reserve fund ... ••• 10,000,000 00
zlentes, disposable funds 34,786,288 62
Investments of the new branch banks in
the public funds ... ..• ... 12,806,741 39
hotel and furniture of the Bank ... 4,000,000 00
Real property of the branch banks ... 2,524,717 00
Ivan of 10,000,000 F. to the city of Paris 5,500,000 00
Interest in National Discount Bank ... 200,000 00
Ditto branch banks ... • 230,000 00
Bills protested at Paris ••• ••• 12,638,866 78
Ditto at thi, branches ... 7,678,721 00
Expenses of administration of the Bank 538,952 37
Ditto of the branches ... 394,277 00
Miscellaneous ... ▪
627,799 46
Consolidation of Treasury Bonds ... 7,906,247 36

... f. 135,516,100 7:3
.. 107,131,333 00
95,925 16

E 665,660,268 88

in the interior of the city, I also felt myself under
the necessity of addressing a severe sn I warn-
ing noice to ill who then presumed to preach up
sedition, or whc, by means of constantly rene ved col-
lection of people and revolts, kept the population of the
city in a constant state of feverish excitement, whereby
their business and credit were injured, and they became
generally impov.rished; and, in a word, by which they
were exposed b all the horrors which lawlessness
could bring upon mankind ; I have now room for
hope that I hale obtained this end, and, as already
some of the meat dangerous of these disturbers have
been dealt with according to the military laws, that
there are amongst the misled, or rather of the in-
culpated, a portion worthy of being pardoned ; I now
further order that, from the present moment, all in-
inquiries that stall be brought forward respecting those
who bore a shire in the last disturbance shall not be
brought before a military commission, but before the
ordinary civil tr bunals for the trial of criminal cases, so
far as relates to such civilians, by which proceeding such
mitigation of punishment may be given as could not have
been carried ott under the strict rules of a military
court-martial. As regards all other regulations imposed
in my proclarnat on of the Ist of the month, relating to
the duration of the state of siege, they are still to re-
main unaltered in full force.
" ALFRED PRINCE WINDIsCHGRATZ, Field-Marshal.
"Head-quarters, Schenbrunn."
The Breslau Gazette of the 26th ult., publishes a
letter from Vienna of the 24th, which says—
" It is belieyee that the Archduke John will give in
his resignation of the office of Vicar of the Empire, be-
cause the Archduke wishes to give up to Prussia the
direction of Gentian aff.iirs. It is said that the Austrian
deputies have been recalled from Frankfurt. Austria de-
sires that all her states together (including those which
are hereditary) should form a part of Germany; but, by
continuing to pursue her own separate policy, she vir-
tually refuses to carry out this incorporation. It is as-
serted that the Emperor told Windischgratz that he
would bestow upon him whatever he would be pleased to
ask. Windischgratz replied that all he asked was that
the Emperor would return to Vienna. The city of 01-
denburgh is occupied by our troops, which greatly faci-
litates the junction of the corps of Dahlen and the grand
army. At present they are operating against Presburg.
Raab, which, in 1809, held in check, with 800 men, the
French for a apace of nino days, will probably be block-
aded. The main body of the army will be employed
against Pesti]. In Hungary martial law has been pro-
claimed: it is said that it will be applied to General
Moga. The corps of General Simonich is in the envi-
rons of Presburg. General Schlik will soon arrive there."

The New Gazette of the Rhine, of Nov. 29, gives
under date of Frankfort, Nov. 27, the following :
" Windischgratz has been shot. Thu news is founded
on good authority. I learned it from a deputy who
has arrived at the Ministry of Justice : :you may give
it currency as true."

PRUSSIA.
The following is the report of the proceedings at
the sitting of the Assembly at Brandenburg, on
the 27th :
The galleries were all crowded long before the hour
appointed for the commencement of the proceedings ;
but the loge of the diplomatists was more thinly occu-
pied. From half-past ten till eleven the deputies con-
tinued to arrive. M. Hansemann was able to attend the
present sitting, and, on his entrance, was warmly greeted
by the deputies collected in groups on the floor. The
Ministers did not arrive till a quarter past eleven.
Count Brandenburg was one of the first in his place.
The chair was not taken till a quarter to twelve, and the
interval was filled up by a lively conversation in every
part of the Hall, especially between the several Minis-
ters and their supporters.
M. Von Brunneck having taken his seat, opened the
proceedings by proposing that the minutes of the pre-
vious sitting should be read ; he also proposed that the
minutes of the last sitting in Berlin, on the 9th instant,
should be read and confirmed.
This gave rise to a short discussion, in which MM.
Baunastark and Reichensperger opposed the reading of
the protocol of the 9th, on the ground that the
Chamber (to all appearaece) was in the same condi-
tion of incapacity to pass a legal vote as it was yester-
day. It was, therefore, resolved to pass at once to the
minutes of yesterday, leaving those of the 9th to be
dealt with hereafter; the former were then read and con-
firmed.
The President then proposed that they should either
call over the names or suspend the proceedings for an
hour, to hold a conference with the Ministry, as to whe-
ther it would in the present sitting state the next step it
was prepared to take.
As a m Ater of form the proposition of an adjourn-
ment had the precedence; it was put and agreed to,
and at twelve o'clock the sitting was suspended till one.
It was half past one o'clock before the proceedings
were resumed.
The President then stated it was necessary to call over
the names of the deputies formally to establish the fact
that there was not a legal majority present.
The appel nominal was then gone through in the usual
manner; none of the Ministers were present during this
part of the proceedings. The result of the call was a
Chamber of 159 deputies—still far from being the neces-
sary 203.
There was a tendency in one or two deputies to renew
the protest of the previous day against the right of the
Crown to remove the sittings from Berlin, and the de-
sultory discussion upon it; but it was checked by the
general sense of the Chamber, and an appeal from M.
Bremer, who exhorted them to be united now, even
though they might have their individual scruples.
The President then said he had communicated to the
Ministers the result of the call of the Chamber; he knew
not whether the Government word I make the same pro
position it did the day before—(Laughter)—but
this he the case, he thought they ought again to adjourn.
The Ministers at this moment entered the Hall.
Count Brandenburg at their head. They were saved the
trouble of making the proposition alluded to by the Pre •
aids nt, by
M. Simons, an advocate of the Court of Cessation at
Berlin for the Rhenish Provinces, who ascended the
tribune, and moved the adjournment of tke Chamber sill
the following day, at 11. They were bound to give their
colleagues full opportunity to come and take their :-eat,
with them; it was probable that the following day
might bring the Assembly an increase of numbers.
Should they then still flnd themselves unable to prece( d
with their discussions, another adjournment might be
moved till Thursday; on that day he should propose
that the Ministry formally summon those who did not
on that day present themselves. On ;Thursday he
would more fully develop the motion which he to day
only announced.
Immediately M. Simons had concluded, Count Bran-
denburg rose in his place, and stated that the motion
was exactly conformable with the intentions of the
Government, which were to hasten as much as possible
the deliberations of the Assembly on the Constitution,
that it might be settled in concert with the Crown. If,
therefore, the Chamber should determine to give a day
or two longer to the endeavour to form its number, he
should not oppose it. The statement was received with
great applause.
T
d
uAnsAxias
te
soneneusds vi
:sas sot ehr aeoti :11
pp
justit,ioann,
scnairrtiehde
nel icinfecmGoboulnyunAsmotion
tal
nysi w
f orwoou
frimhtnhaMegoTdu. S
Thuringia and Magdeburgh repre
sent not only the people, but the troops also, as ripe
for insurrection.

FRANKFORT.
-In the sitting of the German Parliament on
thin Nth,
_
O• Ecisser brought up the report on the funeral ceremony
f Robert Blum. Tt,e committee, he said, appointed to
-arrange the funeral ceremony in memory of Rob?rt
Wpm had had to struggle with great diversity of opi-
nioni Nevertheless, in bringing the matter thus unex-
pectedly before the House, he was sure he might declare
that party feeling had in tie case been at the bottom
of this inability to agree. He fully believed that his
colleagues, like himself, were solely actuated by a wish
to arrange for the mourn'ul right in the spirit of the As-
sembly's resolution, according to which the lamentable
and premattire death of a member, and,, indeed, his un•
lawful execution should be the basis of a ceremony in
every way worthy of the occasion. But the committee
having resolved itself into a majority and minority, he
felt obliged to ask the Assembly whether the committee
was authorised in at once making the necessary arrange-
ments according to thu decisions of its Majority, or
whether it must lay a statement of its plan before the
House,
Levercus called the attention of Members to two se•
parate statements in the lot lt journals: The Oiler-Post
Ampis Zeiiiinj reported that Herr ttucho, th Member
for Frankfort, had formally comMunidated to the
Frankfort Constituent Assembly the intended cele-
bration of a funeral 'rite in honour of Robert Blum,
and had moved that
.that Assembly attend the same;
a Motion that was utianitiously Carried. The
thki tither hand;, stated that Herr
Jucho had, in the name of the Imperial tlasetahly, in-
vited the Frankfort Assembly to attend. Various unions
and deputation from a great number of places had sig-
nified a desire to be present; but it was not the inten-
tioh.of the Imperial Assectibiy to ordain a publie com-
memoration of Blum's death.—(Clamour on the left.) It
was to be a rite in Which the Members of the Assembly
should formally be understood to engage.—(lncreased
clitniour, and cries of " Enough.") It was not the in
tension of the Assembly to give occasion to any popular
enough.) He would, how-
demonstration.--(Ettough,
O'er, beg tis ask the committee whether Herr 'inch°
had been authorised Co invite the local authorities to this
full eralnitof -
iidn
• 4--
o Baia ne must first contradict a ituenletit rt scie
in a public paper, to the effect that he had called him-
self a member of the committee in question, and had
invited attendance in the name of the committee. The
faota were these, The committee bad met for consul
tation on Friday evening last, and Herr Itiesser, the
presiding member, had invited him to attend its deli-
berations, as being a Frankfort citizen, who might be
able to give him a welcome hint or two. It was that
evening resolved that a formal invitation to the local au-
thorities and other parties was not advisable, but that a
direct communication of the time, &c , of the ceremony
should be made to them. He (Jucho) had done no
more than make a preliminary communication ; he
therefore, left it to the last speaker to draw his own
conclusions as to the truth of current reports.
The Left declared, as a body,
that they abstained
from all participation in the debate.
Soiron then put the question thus:—Shall the Com-
mittee arrange for the funeral ceremony without further
co-operation on the part of the National Assembly ?
(Negatived—Noes, 241 ; Ayes, 156.)
Octet rath, Lassaulz, Beseler, Von Linde, Beda Weber,
and others, moved that the House pass to the order of
the day on all motions for a funeral solemnity in hottlur
of Robert Blum, assigning as a reason for this-1. That
no particular ceremony of the kind had ever been or-

~''---

d'-red by the National Assembly on the occasion of the
death of a Member. 2. That such an order in the pre-
sent case Would imply an approval of the deceased
Member's contfuet in Vienna. 3. That the applicatio❑
of martial law to an offence committed by a Member
afforded no definite reason for such a solemnity. 4. That
such a resolution might be regar2ed as an unwarrant
able demonstration against the Austrian Government.—
The motion was rejected.
Herr von Hei lon moved that the funeral ceremonies
be suspended until the Imperial Commissaries had re-
ported on the facts of Blum's career iri Vienia.—RejectP.d.
The motion of the majority of the committee, that the
ceremony be a church solemnity, was carried.
That of the minority of the committee, that the mem-
bers should assemble as usual and proceed to the church
of St. Catherine, allowing the authorities of the city and
various societies to join the procession, was rejected.
Raveaux hereupon declared himself totally against
this view of the Assembly's intention in voting the rite
in question, and therefore withdrew from all further
participation in the committee's deliberations.
Wigard did the same.

Aninterpellation was then addressed to the Minister
of Justice, as to how he meant to interfere for the pro-
tectkn of the free right of association in Bavaria, where
tt•e authoiHes were now busy in demanding an exact
census and description' of the members of the political
clubs. The answer was deferred.

Esterle, of Cavalese, then moved—" The Imperial
Ministry is called upon, from a sense of justice and hu-
manity, and with a view to tt honour of Germany and
the interests of an unfortunate nation, to do its very
utmost towards'effecttating in the Lombardo-Venetian
provinces the substitution of civil government for mili-
tary rule. It shall also take care that the assurances of
his Majesty the Emperor of Austria, together with all
other conventions, be respected and carried out, and
that, therefore, the penalties imposed on private per-
sons in the shape of compulsory contributions, or the
confiscation of goods (which pucishments are rendered
unwarrantable by the aforesaid assurances, &e.), be im-
mediately cancelled. It shall also take the speediest
possible measures for the conclusion of a fair and honour-
able peace."—Urgency disallowed.
The Assembly then divided on the motion of the Com-
mittee of Constitution respecting the Imperial Court of
Judicature.

Giskra, at the close of the sitting, insisted warmly on
the Assembly holding an extraordinary sitting to-
morrow, in order that the Austrian question might
become the subject of debate.
Agreed by a small majority.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The Cotton Market at Liverpool yesterd ty was steady,
but the sales were only 4,000 hales. The transactions
of the neck have been large at fulli:r roes, but the
market has teen better supplied and duller since Wed-
nesday.—ln Railway Shares there was not much doing,
but the market was firmer.
The monthly return of imports and exports from the
United Kingdom affords another proof of reviving trade,
and for the first time since the Chartist disturbances
there is an increase in experts.
In the princieal items, save one, the account of the
Bank of England for the week to Saturday last may
again be accepted as very satisfactory. The exception is in
the circulation of notes payable on demand, and in which
there is a further material reduction. The resources of
the Bank are increasing, but not its business. The
amount to the cr•• dit of the public treasury goes on in-
creasing. The bullion, as we anticipated, was further
added to, and will no doubt yet be augmented :
Notes issued 27,386 555
Increase 187.720
Rest
Decrease
Public Deposits 5,992,492
Increase
Other Deposits 9,932.650
Decrease
Seven Day and other Bills
Increase
Government Securities
Increase
Other Securities
Decrease
Notes 9,986,110
Increase
Bullion
Increase
Active circulation
• Decrease
Because a certain amount of " calls" are advertised,
shares again become flat, although the Money Market
is known to be easier than for some time past. The ex-
planation seems to be, however, that our monetary- laws
have reduced the property ofthose who had the will and
power to view favourably, investments in railways, while
their enotmous depreciation, in common, however, with
other undertakings, deters new parties from venturing
upon purchases. We find in a criticism upon the money
laws by a provincial editor, the following natural in
quiry :
" Upon what do men of property rely to meet their
engagements ? Upon the quantity of such property ?
No. But upon its market and convertible value. To
whet class of commercial, manufacturing, and annuitant
property can the Economist refer, which has not sus-
tained an extent of depreciation as great or greater than
that which has befallen the value of railway stocks—
factories, machinery, warehouses, dwelling-houses, ships,
produce, or insurance and banking companies' stocks?
There is no description of property almost, which for
conversion into money for any necessary purpose will
now command within (me• third to one-half of the sum to
which it was fairly equivalent before the April panic of
last year.. Five hundred millions sterling would not cover
the loss of capital the country has sustained through this
general depreciation of its industry and wealth. Here,
then, is cause for the difficulty of meeting railway calls,
altogether apart from, and much more palpable than, an
organic and original impossibility of finding capital.
Awl as to the 130,000,0001. of railway calls, which the
Economist thinks will destroy the country, a restoration
of one class of property alone, Consols, to its former
value, would supply a working capital equivalent to the
whole sum required for such completion of the unfinished
lines.
" The principle which regulates the valae of railway
property being once understood, there would be no lack
of efficient plans for meeting the case of the perplexed
and almost bankrupt companies. If a fluctuation lit the
rate of interest have such power as has just been shown,
to dissolve into nonentity, like snow before the sun, the
immense capital of those companies, their first duty ob-
viously is to unite together for one specific object—
namely, to demand such an improvement in the present
Money lents as shall admit of a permanent standard
of value for all such property in the shape of (what there
is now no certainty of for a week together) an equable
rate of interest."
With all this, we cannot but coincide in the opinion of
many-intelligent parties, that the value of railway shares
is now at its lowest, and we make but one reservation in
. giving this opinion, vie., such a political or monetary panic
as would involve everything in one common depreciation.
A good return, making the most liberal allowance, can
now be secured upon investments in railways, a judi-
cious selection being made, and many will have to regret
that they allowed the present
.opportunity to pass. As
to calls, &e., their influence can only be temporary.
•The Funds' have ;been buoyant again this morning,
and the news of the flight of the Pope has not had any
particular influence. Consols have been 871 to 871.
The New• Three-and a-Quarter per Cents. have been
quoted 861 to I. The favourable Bank returns serve to
maintain the market, Bank Stock has touched 189 and
190. East India Stock is at 237. • Exchequer-bills have
been 41s. to 445. premium, and India Bonds 355. to 375.
premium.
In Foreign Stocks the transactions have not been
large, but firm prices have been current. Mexican
Stock has
.reali.erl 21i, Buenos Ayres 20, and Equador
21. Danish Bonds have been done at 62 to 64. Rus-
titan Stock is at par to I premium. Spanish Three per
Cents have been quoted 25.
Railway Shares are a little firmer, and the old lines
have beers at improved values generally. The business
done has been limited.

oNE
Y . •ItlTaci FUNIIs Lo 8.
tank Stock ...190 189'
:143,1tict,1 Amp+ 804,14
3 per Cent. Consols Annuities.-- 87 1•4%
New 3% per Cent. Arms.— 86%

ClAksil,
PRECE 5.
189
8614
871 A,
8 9-16
237
37 p
36p
871,i

):g; Aw ls. to expire. Jan. 1860 ... 8.9-16
India Stack 237
• ratia Booth, 1,0001. ..... . .. 37p
Ditto under 1,0001. .. ..... ........ 35 36 p
C )I:sots for Account.
,xcliequer Bills. • 21,¢d. & 2d.
I.oooi. March ...... .......... . 41 .44 p 44 p
1,000/. June ...... ....... - 42 p 42:p
51'0i. Match
500/. June
Stnati, March 4l 44 p 44 p
Smill. June
I'ItICES OF FORNION FUNDS. thttE CLOSIN • :
Q'CIOCK. PRICI. S.
_e
747
20

Brazilian Bonds
Ditto, t,mall ... -
Buenos Ayres Bonds. 6 Der Cent. 20
Danish Bonds. 1825, 3 per Cent 64 62
.Equador Bonds
Atexican, 5 per Cent. 1846 2ll/2
Portuguese 5 per Cents. — -
Ditto, 4 per Cent — 24
Russian Bonds ...
'panish 5 per Cent. 1840.
11%8
Ditto, 3 pet Cent
Dividends on the above payable in London.
Dutch 214 per Cent., 12 Guild.... 47%
47:%
PRICES OF PAID.
BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOCK, PRICES.
k berdeen 5O
•-••••—•
... --
. ......
Amber. Nott., Boston, .....
•
and Eastern Junction 4M..„.. _ .
........ —
Nyrslaire and Galloway.. 7
I elfast & County Down 19
Birmingham and Ox-
ford Junct., calls duly
paid, or with a guaran. 20
Do, withoutguarar.tee 20 ...
Birming, Wolverh'ton,
and Dudley, calls duly
pd, or with guarantee 10 ..... 14M
Do. without guarantee 10 ....... .....-
Binning., Wolverh'pton,
and Stour Valley 13/. 145...
•••
Birkenhead, Lancashire,
and Cheshire June.... 10 ..... ........
Foston, Stamfd &Bi 5 ... ..

.i, Firm
Bristol and Exeter 9O ...
Ditto, Thirds
Buckinghamshire... 141. 4s. ..... 3% dis... .
Caledonian
DittO, Half Shares .. 87i ...... —•••-
Do. New 10/. Pref..... 5 ... .. 43/4
Ditto,ClydesdaleJunc 50
Chester and Holyhead... 50
Ditto, Preference
Clarence
Do. lot Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
••. ............ •
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mouth
Dublin and Belfast June. 35
Dundalk & Enniskillen 20
East Anglia, 25/., L. &
E. and L. and D...... 25
Do., 18/., E. & 11.... 18
Do., 31. 101 s 1 -
Eastern Countie, . 20 111,

untie 5........
Do. New Guaranteed
6 per Cent. ... ...... 10 ...... 10:% .. ......
Ditto, Extension, 5 per
Cent., No. 1 6/. 13s. 4d.... ...............
Ditto ditto, No. 2 61. 13s. 4d...
Do. North. & Eastern 50
Do, 5 per cent. - ..............
Do. Quarters ..- 12% — . .......
.... .
Do. New ... 34 ......
Eastern Union, Class A
(late E. U. Shares) 25
Ditto, Class A, ditto... 1
Ditto, Class B (I. &
and B.) 2O ......
Ditto, Class C, ditto... 20 . ..., 61/2
Do. Scrip (6 percent.) 10 ......
..... .
..
Ditto, ditto ..
Ditto (C. & E.) guar.
5 per cent. .... ...... 21,4....
East Lancashire
Ditto, New
........ ..
Ditto, New Quarters 614 —
Do., 6 per Cent. Pre-
ference Quarters ... 61q —
Last Lincolnshire ...... 25
Edinburgh and Glasgow 50
NU°, Half Shares ... 20 .. ..
Edinburgo .--4 Northern 25
•
Ditto, Newport ls
Exeter,Yeovil, & Doreb. 2:3g ....-•
Glasgow, Dumfries, and
Carlisle - -
Glasgow,Kilmar, & Ayr 50
Du. Preference Consol.
Great Northern
Do., ,y A Deferred ... I'l IX] ... .. , 4LA- .. . 4
Do., 1, B 6 per Cent.
guaranteed ... ..... 6% .....
Do. Extension 2% —
reat South. and West.
(Ireland)
Great North of England.loo ......
Ditto, New, 40/. ..... ... 40
Ditto, ditto 25 -
Ditto, New, 30/......... 30
Ditto, New, 151 l4 .. ..
Great Western
Ditto, 14 Shares
41

••••••

A 1,4

11%
10N

6%

~'
.: .

2 2 IA