The Sun.
London, England, 1846-12-16 00:00:00

Ti E SUN, LON DON, WEDNESDAY MORNING, DEC EYE 13E11 161 1816.

THE WEATHER—SUN OFFICE, DECEMBER 15.
THERMOMETER, Lowest, 21; Highest. 29 ; Noon, 28,
BAROMETER, 29.45.—W1ND N.E., fine frosty weather,

HIGH W,kTEIC AT 1.0N1.0N-BRLDGE THIS DAY.
Morning minutes after —. Evening .. 17 minutes after 12.

the probability of the criminal charges brought be-
fore them, by either committing or releasing the ac-
I(used parties; we urged the consequent indispensa-
bleness of haling the magisterial bench, metropolitan
and provincial, filled with men duly qualified to dis-
t
charge such grave functions ; and we, at the same
time, took occasion to notice the notorious incom-
petency of the subordinate justices with which the
country is afflicted throughout. The evils arising to the
1 State from magisterial incapacityare not to be measured,
and cannot, therefore, be lightly disposed of. It is
impossible to say how much the feelings of the inno-
cent have Leen unnecessarily rankled, by their
having 11,,:en committed for trial, owing to the crassa
ignorantia, conceited perversion of facts, caprice, or
inattention of the magistrates before whom it was
their unhappy fate to be first taken. Where men
have not fitted themselves, by education, for the
judicial vocation, in the subordinate, yet most im-
portant and extensive sphere of magisterial action,
they are without due self-reliance, and are like
Chips without ballast, rolling with every wave. Fre-
quently, these sage justices of ours are but mere
autometa in the hands of their salaried clerks, who
compel them to move, and go through the mock ex-
hibition of criminal inquiry in its preliminary stages,
just as the fancy hits them. Others consider them-
selves too high-bred to condescend to play the part
of " dummits ;" and, like young colts, before they
have bad the least training, are bent upon showing
a pace of their own, when, if their mettle be only
well put up, there is no fence of the law they
will not clear at a bound. The responsibility
of magistrates is, practically, a fiction. There is no
redress against any wrongs suffered as the conse-
quences of any errors they commit, unless such errors
can be proved to have been wilful, so that, in effect,
the injured party has no remedy. Where ignorant
justices will manifest an independence, and not stoop
to be counselled by their official clerks, they are
prone to fall into opposite extremes, the effects of
which are most pernicious to society. Some are so
nervous, that, where there is only a shade of a possi-
bility of guilt, speciously presented, and, it may be,
maliciously wrought up, on the one side, whilst, on
the other, the evidence preponderates, almost to a
certainty, in favour of innocence, they will, never-
theless, -because they have no confidence in their own
judgment, and have unfortunately assumed an office
for which they are wholly unfit, send the accused
before a jury. Others, again, pursue a reckless course
in the opposite direction : by imagining themselves
to be Solons, before they have read through the preface
to " Burn's Justice," they coolly discharge many acri-
minal from custody who ought to have been compelled to
stand his trial. In this way justice is indirectly con-
verted into an instrument of oppression to the inno-
cent, and of protection to the guilty. Such per-
versities will continue to stain our administration of
justice until a radical change be effected in the
magisterial body. The Government must dispense
with gratuitous services altogether. As it is, every
squireen aspires to be cock-lofted on to the bench, not
because he considers himself in the least qualified for
the duties, hut because he wishes to be more on a
par a ith his betters in the country. If he happen to
be a busybody in politics identical with those of the
Lord-Lieutenant of his district, with a little patience
and perseverance, his ambition is pretty sure of being
realised. Thus, the machinery of justice is prosti•
tuted to political purposes, and patronage is loosely
dispensed in a service which, of all others under the
Crown, should be kept free from the slightest taint or
corruption.

We have been led to these remarks on account of a
desire that has been expressed in some quarters for
the abolition of the grand jury. We shall return to
this subject to show that such an idea ought not to be
entei tained, if at all, till other preliminary refoims
have been accomplished.

By the Levant Mail intelligence has been received
from Constantinople and Smyrna of the 27th, and
from Athens of the 30th ult. The following is from
the Constantinople paper of the 27th :
" The Government has just received satisfactory intel-
ligence from Diarbelcir and Mossul. Tayer
governor of the last-named province, has put to fligl.t
and dispersed the rebels of Kurdistan, the majlr part of
whom have made their submission. '1 he imperial troops
have suffered much from the advanced season, but their
constancy has been rewarded by a success which insures
the tranquillity of this distant country until the Porte
:dm ill adopt broader measures far settling it upon a
dur..ble basis. The cholera has, unfortunately, attacked
Mossul, but the mortality is not great, and it is hoped
that the severity of the weather will entirely deprive it
of its malignancy." "On Friday last his Highness
the Cheik Liam, Mustapha Assim Effendi, died
of an attack of apoplexy. He was upwards of eighty
years of age. The Cheik ul Islam and the Grand
Vizier arc the two first personages of the empire, be-
ing the vicars and representatives of the Sovereign, one
in spiritual, the other in temporal, affairs. By an im-
perial ordonnance, dated the same day, Aril* Effendi,
Grand Judge of Itoumelio, was called to replace Assim.
This eminent man is distinguished for his profound and
varied knowledge. All his opinions tend towards
reform, which consequently finds in him a powerful
support."

On the 17th ult. 800 houses wexe burned down at
Salonica.

The Moniteur Grec of the 29th publishes an official
bulletin, signed by six physicians, which states that
COLETTI, the Prime Minister, is convalescent.

The Prussian' Gazette of the 4th states, that nobody
in Berlin supposes that a war in Europe will arise
out of the Cracow affair. " England," says this jour-
nal, " will not be so weak as to allow herself to be
again duped by France." Curiously enough, whilst
an English journal pretends that the KING of the
FRENCII has demanded a congress on the affair of the
marriage, the Berlin journal talks of a congress as
probable for the termination of the Cracow affair by
means of a convention, which will calm all excite-
ment ; and adds, " If the Cabinet of the Tuileries re-
fuses to join, it may return to the isolation in which
it has already found itself."
The change of Ministry, which had been for some
time expected in Baden, has taken place. The Mi-
nister of the Interior is appointed President of the
Council of State, and is replaced by M. BERK.
The Frankfurter Journal, in a letter from Schles-
wig of the 4th instant, states, that in the sitting of
the Diet of the 30th, the KING'S Commissioner rose
and attacked, in ironical language, the Deputies of
Galert, Fredeman, and liansee, who had defended
the proposition concerning the suppression of the
present mode of, levying taxes without the con-
.

sent of the • States. The three Deputies replied
warmly to the attack, and their indignation was
shared by the whole assembly. The President
then communicated to the assembly a letter from
the KING'S Commissioner against the petitions sent
in on the subject, and came to the conclusion that

he Government had struck the blow with which

the Diet was menaced ; that, in fact, the right of
petition was set aside, and the institutions of the
country attacked. "We are not any longer," said
he, "either representatives of the people, or indepen-
dent witnesses of public opinion—we have sunk to
the position of a subaltern Government authority!
Ile concluded by declaring that the threats of the
Commissioner did not cause them any apprehension,
and that the Government would find it to be two
different thing 3 to show a ferula to children and to
beard men ! The Duke D'AUGUSTENBURG declared
that, considering the course which the Government

was pursuing, he found himself under the necessity of
withdrawing his note from the Council of Represen-
tatives of the people.

A letter from Frankfort, of the 6th, states that
there is no longer a scarcity of money at the Bourse
of that place, and it is difficult to obtain good paper
for discount at four per cent.

A letter from Vienna, of Dec. 10, says that the
payments of the end of the month having been made
with facility, it was hoped that the banking-house,
about which such unpleasant rumours had prevailed,
would continue to maintain its credit.
Madrid papers of the 7th have arrived.

The elections are going on most favourably for the
Progressistas. The return of three of that party/
V:Z., SAN MIGUEL, MENDIZABEL, and LUGAN for
Madrid, is considered as certain. The other three
representatives of the capital are Ministerialists
Ylz., Moc, PIDAL, and the Marquis DEL POVAR.
Rumours of a change in the Ministry continued to
be rife in Madrid.

The Infante Don ENRIQUE arrived in Madrid on
the Gth, and was visited by his brother, the King-
Consort.

The Government contract with the Bank of San

Fernando has been renewed by the Minister of

Finance.

MADRID BOLSA, DEC. 7.—The Three per Cents.
c!osed at 34; cash, &it-. paper cifered; the Fcur per
Cents., 21; the Five per Cants, 21; Debt without In-
terest, 6i ; and Coupons, 191.

We have received the Paris papers of Saturday and
Sunday.
The weekly reception of M. GUIZOT was attended
on Friday evening by the Marquis of NottatANnY,
Count D'APPONY, and all the other Ambassadors, for
the purpose of showing that their absence from the
fete given to the Bey of TUNI3 did not arise from any
coolness to M. Gum,.
We find the following in the Presse, on the subject
of the resolution of the BEY not to visit England :
" The presence of the Bey of Tunis in Paris app( ars
to have seriously occupied the attention of Lord Pal-
merston, even in the midst of the cares demand( d from
this Minister by the marriage of the Duke de Montpen-
sier and the Cracow aftitir. England is very touchy
about all that relates to the Mediterranean ; and the Bey
of Tunis, the neighbour ?f Algeria and the ally of France,
would have been seen with great pleasure at the court of
Queen Victoria, where everything would have been done
to snatch him from the exclusive patronage of the French
nation. But an obstacle occurred. Scarcely had the
Bey arrived on the French soil, when he was treated as
a sovereign prince, and England, which has not yet re-
cognised his right to that quality, was not inclined to
consider him otherwise than as a vassal of the Porte.
Lord Normanby was, therefore, charged to negotiate
this grave affair with M. Raffo, and to prove to him that
his master had a great interest in showing consideration
to Great Britain ; that hitherto the Bey had been
animated with intentions equally favourable to all
nations, but that he appeared at present inclined to
change his policy, and give himself up entirely to France,
which fact would be completely evident if he did not con-
sent to go to England on the conditions proposed to him.
The Bey, not being convinced that he ought to give up the
Prerogatives of reigning princes, M. Ralf° informed Lori
Normanby of the refusal expressed by his master. Lord
Palmerston, consult rin2 that he ought not to rest satisfied
with his first effort, a few days back sent a dispatch in-
tended to be read to M. raft,, declaring that if the Bey
proceeded to London he should be received with great
cordiality, but that the British Cabinet had duties to
perform, and obligations to observe, which would prevent
it from admitting this Prince to the Queen, unless pre-
sented by the Turkish Ambassador. The Bey, it said,
ought to bear in mind that he has other countries near
him besides Algeria, and that he ought not to conduct
himself solely with this latter consideration in view.
This new advance was not attended with any greater
success than the former, as the Bey persists in his reso•
lution. It is even announced that lie leaves Paris on
Tuesday for Tunic, whither M. de Lagau, the Consul-
General, is to accompany him."
Tl.e Presse is wrong in saying that the English
Government invited the BEY. The BEY expressed a
wish to visit England, and was given to understand at
once that, in the event of his doing so, he would be
received as a vassal of the SULTAN, and not as an in-
dependent Prince. The following is the conclusion
of the article in the Dads
.on the subject of tariff
reform :

" By a decree bearing date the Ist of March, 1793, all
treaties of commerce were annulled, and British produce
of every description was prohibited. The law of the
10th Brumaire, year 5, was conceived in the same spirit,
with the hope of hifl.cting a mortal wound on Pitt and
Coburg. For the same reason the National is at pre-
sent opposed to the application of the principles of com-
mercial liberty. Napoleon, having been created Empe-
ror, wishing to prepare the public mind for a continental
blockade, and yieldirg to the suggestion of unenlight-
ened fifeal authorities, instituted by a decree of the 17th
Plaviose, year 13, a new tariff. By this measure the
duties on coffee, sugar, cocoa, and tea, imposed by the
tariff of 179!, were increased fivefold. Some duties on
articles of luxury were increased tenfold, and even me-
dicines were highly taxed. The decree of the year 13
eas about to be converted into a law in 1806, when the
Emperor, in a fit of fury against England, without con-
sulting the legislative body, prohibited every article
composed, in any part, of cotton. At a later period, in
1810, Napoleon, when his hatred against Great Britain
arrived at its paroxysm, endeavoured to exclude colonial
produce altogether by raising the duties. He fixed the
duty en raw cotton et 880 francs for 200 pounds weight.
The Levant cottons, by favour, paid 4401, and if they
arrived by land 1201: ; raw sugar was taxed 330 g. ; tea,
9901. ; coffee, 4401. ; cocoa, I,loof. ; cochineal, 2,200 E,
the same quantity of 200 pounds. This was real in
sa sity. The consequence of such a tariff was to or-
organise a prodigious bled of smugglers. The year
1814 arrived,France was invaded, the Imperial throne was
levelled, and peace succeeded to war. In that year the
tariff was revised. All duties were removed from cot-
ton and wool, as under the Constituent and the Re-
public at the same time the duty on iron was fixed at
161 f. for 200 pounds weight. This was four times the
amount fixed by the Constituent. Butcher's meat was
suffered to enjoy the immunity granted by the
.Em-
pire. In the year 1815 France suffered new disas-
ters, and in 1816 the financial system of the country-
was c3mpletely remodelled. A duty of 22f. per 200
poun3s weight was imposed on cotton wool, and 31.
a head was imposed on oxen. The prohibitionists
were modest, they only demanded prohibitive duties
for a few years, in order, as they said, to compete
with foreign manufacturers. It was thus that during
a long peace the severities practised during war
were corrinued against the pockets of the consumer, to
the detriment of the manufacturer ; and, if we examine
the customs laws of 1817, 1818, 1820,-1822, and 1826,
we find a series of uninterrupted aggravations. This
system was pursued after 1830. Thus machinery pays
heavier duties since the Bill of 1845. The year 1836
alone produced some reduction, and it abolished the
prohibition existing on above twenty articles. Thus the
general tendency of our commercial legislation since
1791 has been to prohibit, and that in the midst of as-
certained progress, whilst our manufactures are every
day acquiring new strength and even compete with the
English in the London market. Is not the moment
arrived to suspend this prohibitive movement, and to
demand a temperate liberty, which must produce ame-
liorations not to be procured by prohibition, even ad-
mitting that it ever eves indispensable r
The following article from the Siecle shows the
beautiful working of the protective and prohibitory
system :
"The Northern Railway Company, after having at-
tempted in vain to procure rails in France. has applied
to the Government for leave to import 25,000 tons of
foreign r ails. To avoid appearing to decide a question
of gcneral interest by a private one, the company did
not propose to have the iron which it requires admitted
free. It merely showed that the Northern Railway
wanted 23,000 tons of rails for June, 1847, at latest ;
that the French establishments could not furnish them ;
and that in such a case of necessity it was only equitable
that it should be permitted to introduce these rails at a
are at present worth in
duty which, joined to the prune cost and carriage, would
. .
to 2501.
raise the whole price to 3501.. a ton deliverable on the
pElialoineg;iat hnhadast bferionm 240tg the price of the first contracts the corn
made.
The rails;
the transport is
from 401 e to 50f. per ton ; so that it was
consequently a duty of 501. or 60f. which the
can
furnish, lt knows what
andh is aware of
atit quantity of
company offered the state, in place of the absurd
w
and impossible tariff of 2061. now imposed. The Go-
vernment publishes each year an account of the produc
rails Lion of
the engagements which the iron-masters have contracted.
Nothing, therefore, was more easy than to pronounce on
o f
these l n
establishments‘' s and
forge.
the demand of the Northern Company, and to decide on
its own information. But the present Ministry has no
more the sentiment of its dignity than of its duties. The
iron-masters, brothers-in-law, sons-in-law, or relatives of
the Ministers, hold the Government in ward. Could it
take any decision without consulting its high and
powerful guardians? The demand of the Northern
Company has, therefore, been sent to the superior
council of forge-masters. They, for the purpose of
avoiding the introduction of foreign rails, have not given
national rails; for if they undertook the contract, they-
could not fulfil it. But they have sent in a reply, and
the Alinistry, ie order to give itself airs of impartiallity
in its slavery, has thought fit to communicate this answer,
not to the company itself, but to a member of it, with a
recommendation to be discreet. Should the company
persist, the forge masters will reply by another state-
ment, so that the Government will thus become a sort of
journal, not public, in which the arguments of the two
parties are to come together. Thus discussion will be
the order of the day, in the place of action. The
Ministry will gain time, and the monopoly will drag on
some days additional, which is all that is wanted. We
ought to add, that the Northern Company, having treated
with the Fampoux Company for the cession of 6,000 tons
of rails, hastened to reduce to 19,000 tons the demand
which it had addressed to the Ministers. It is said that
all the forge-masters are busied in making a subscription
amongst themselves to furnish this quantity, at the exor-
bitant price of 350 E a ton, which they hope to impose on
the Northern Company. Unless the rails' are fabricated
with Belgian or English pig iron, we should like to know
how they are to proceed. We may also mention that
the Northern Company is still waiting for the crossings
and platforms which our forge-masters had engaged to
deliver. But why should they put themselves out of the
way? When one has the Government in one's favour,
public censure may be treated with indifference."
It is said that the Chambers will not meet until the
11th of January.
According to the Constitutionnel, Ann-Er.-TRADER
has written to the KING of the FRENCII, making
overtures for peace.

Algiers papers, to the sth, have been received in
Parisi but their contents are unimportant.
The Paris papers of
Sunday contain no news.
They are vi holly taken up by reports of the proceed-
ings at meetings of electors of the different arrondis-
seßents of Paris, preparatory to the municipal elec-
tions, which take place on Sunday.
The price of corn continues to rise in all the
marke' s of France.

The Three per Cents. closed on the Paris Boure on
Saturday at 81f. sc. ; the Five per Cents.,
118 E 45c. ; the
Orleans Railroad Shares, 1,267 f. 50c. ; Rouen, 895 f. ; Havre,
652 E 50c. ; Great Northern, 616 E 25c. ; Avignon, 882 f.
50c. ; Vierzon, 593 f. 75c.; Bordeaux, 5621. 50c. ; Basle, 2201. ;
Dieppe, 352 f. 50c. ; Paris and Strasburg, 481 f. 25c. ; Tours
and Nantes, 4911. 2.50.; Paris and Lyons, 510 f.; 1403 and

Avignon, 48E; Spani,li Three per Cents., 381 A ; Ditto Do-
meinic Debt, 3_1;; Ditto Passives, G.

The Three par Cents. were done at Tortoni's on
Sunday at 80i. DOe.•

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, DECEMBER 14.
Bordeaux, Toulouse and Cette (Espelete), :f/t4 —Central
of Spain, A—Demerara, 4—Dutch Rhenish, 4?g—ltalian
and Austrian, 21/2—Jamaica South .4lidland Junction, 114—
Louvain it la Sambre, I:l4—Luxembourg, %—Madras, Nel-
lore, and Arcot, t 4 —.Namur and Liege, 3%—Northern of
France Constituted, 101—Orleans and Bordeaux, 816— Paris
and Lyons Constituted, 5t4--Sambre and Meuse, 4%.

CIVIL WAR IN PORTUGAL.
We have been favoured with a copy of a bulletin-
reccived by way of Vigo, of which the following is a
translation:

" VALENCA DO MINIIO, DEC. 3.
" To-day, between five and six o'clock in the evening,
the legitimate Government of her Majesty
_the Queen
was re-established here.

" The enthusiasm with which the liberating force was
root ived here is indescribable. It has saved this pro-
vince from the destructive grasp of the Septembrists and
of the Miguelite bands, who, though few in number,
would spread wide their desolation.
" The words Queen' and Charter' have been every-
where triumphant. No untoward occurrence has inter-
vened. The Governor, Jose Maria de Souza, has con-
ducted himself' gloriously, giving one more proof that
he knows well how to combine the duties of the soldier
with the loyalty he owes to his Queen.
" The important conquest of the fortress of Valenca
must shorten the lite of the rebel faction, already strug-
gling in agony. It is worthy of remark that the Queen's
loyal troops have not been guilty of a single excess. The
worthless fellows who formed the majority of the
garrison of this fortress have been disarm d and ordered
to their homes. There was not one of them who did
not excite commiseration by his ragged and miserable
condition.

" By a decret of the 28th of November, Antonia
Pereira dos Reis was appointed Royal Commissioner in
the provinces of the Minho and Tras•os-Montes. Ile
this day accompanied the liberating force, and took
possesion of the fortress in the name of her Majesty
the Queen.

" The gallant division of Tras os-Montos marched
from Chaves on the 30th. In the course of a few days
the city of Oporto will be cleared of the infamous fac-
tion which lies harassed and dishonoured it.
" We. have intelligence from Lisbon to the 30th of
November. Some officers and soldiers have deserted
from the n-bel Xavier, weary of the severity which they
experiecced from him. The fatal existence of the fac-
teem is dratsirg to a close.
" DEc. 4. This day there has arrived at the fortress
upwards of 500 individuals from the neighbouring coun-
cil jurisdictions, begging to be supplied with arms to
defend the cause of the Queen and the charter. A
movable battalion is about to be formed. It is destined
to liberate Upper Minho from the iron yoke which has
oppressed it for several months past.
he fortress of Valence may now defy the two
bands which have dared to wage war against the best of
sovereigns.

" N.B. (In MS.)
" The town of Villa Nova de Cerveira declared also
for the Qieen's Government on the 4th of December."

FLANDERS MAIL.

BRUSSELS, DEC. 10.—The Chamber of Representa-
tives received to-day the retort of M. Dubus, on the
budget of the Departments of Justice, the discussion of
which was fixed after that of the Interior.
The Chamber then resumed the debate on the first
article of the project of law accompanying the budget
of the ways and means, which was for imposing a light-
house duty of three centimes per ton, for the expense of
the lighthouse at Wielingen. M. Manilius proposed that
the duty should be only two centimes, affirming that the
eavigeeion of the Scbe!dt was so considerable, that that
duty it ould be sufficient for the expense s of the light-
heuse This amendment was rejected.
Articles I. and 11. were pa- st d.
Article 111., permitting the Government to issue
Treasury bonds to the amount of twenty-nine millions to
meet the expenses, geve occasion for an important debate
on the finances of the country.
The Chambers then adopted Articles 111. and IV. It
thus adopted, without a debate, all the articles relative
to the regular expenses, which amount to 14,886,000 f.
The whsle of the budget of ways and means, and of the
regular receipte, was voted by a majority of 69 to 5.
The next subject on the order of the day was the pro-
ject of law regulating the promotion of the Frinses of
the Roe al family in the army, which was adopted
without a debate, by a majority of 71 to 2.
BRUSSELS, DEC. 11.—The Chamber of Representa-
tives, en i;s sitting to day, commenced the debate on the
project (4' law for a vote of credit, 2,000.000 franc.,
which the central section proposed to increase to
2,300,000 francs, for measures relative to the importation
of provisions, to the improvement of the linen manufac-
tures, and for draining and colonising the Campine. A
proposal of M. Orban, to separate from this project of
law the sum of 500,000 francs, for facilitating the drain•
ing, &c., of the Campine, was the first subject of debate,
in which the Minister of the Interior, and several other
Members took part, when Mr. Orban's proposal, with
some modification, was agreed to. It was expected that
the discussion of the project of law would proceed, when
a motion by M. Osy gave occasion to a long
and angry debate. M. Osy asked the Minister
of the Interior if he approved of a letter
of the Governor of East Flanders, which treats
of the speculation of the merchants, which might cause
the prices of corn to rise. M. Osy calls this letter an
offence to the honour of the merchants, and affirms that
the writer was clearly animated by malevolence and ill
will. The Minister of the Interior said that, in his opi-
nion, there was nothing offensive in the letter to the
merchants ; that in pointing out the danger of specula-
tion, and the frauds which might be committed to the
prejudice of the consumer, he thought the publication of
this letter might be of service in preventing culpable
!reul. After a short reply of M. Desmaisieres, who
refuted the imputations of M. Osy, and observed that
he had expressed precisely the same opinion as the
Governor of the Province of Antwerp. The debate became
still more animated, Messrs. Loos, Roget, Verhaegen,
vehemently defended the insulted honour, though the
Government declared that nothing of the kind was in-
tended. M. Verhaegen even went so far as to ask
whether it would not be possible to bring an action for
calumny against the author of the letter, written in June,
and which the Government had not published till De-
cember. M. Verhaegen even said that the letter bad
been published solely with the view to excite the people
to plunder the corn merchants. The best answer to all
these declarations was that cf M. Molou—the letter
could not do any harm, but tbis debate might do much.
At length, after some further discussion, the Chamber
came to the real subject of the order of the day.

-
MONEY and COMMERCIAL NEWS.
(From The Sun of last Night.)
The Cotton Market at Liverpool yesterday was in a
most excited state, the bisiness being larger than was
ever before known in the sane space of time.
The sales were 45,000 bales, of which about 26,000
were American on speculation, end 2,500 Surat. There
were about 38,000 bales of American sold altogether.
Prices ruled at 51d. to 74d. for American, at 4d. to Sid.
for Surat, and at lid. to Bd. for Pernam, being id. to
id. per lb. advance on last Friday's rates. Shares were
firm, but quiet.
The sale of Railway Shares, tc-day, at Messrs. La-
mond and Co.'s, did not go off with much spirit, although
there was no great alteration in prices. The following
are a few of the principal sales : -
Waterford, Wexford, and Va1entia..........£0 3 9
Madrid and Valencia.
Great Luxembourg
East Indian
Eastern Counties, York Extension 3 10 6
Derby, Staford, and Worcestershire,New 0 14 6
Leicester & Bedford, Exchange Certficate 0 10 0
Churnet and Blythe
Manchester and Southampton, 1847. 1 9 6
South-Eastern and Dover, No. 4
Taw Vale Extension and Dock
Vale of Neath
Shropshire Union and Canal
North British, New Thirds
Paris and Lyons 5 2 6
Worcester, Warwick, and Rugby ...... 5 6
London and York, Extension 2 0 0
South Yorkshire, Doncaster, and Goole 2 4 0
It is with very consider able. and increased regret, that
the mercantile community find, by the advices received
from Liverpool this morning, that the rage
for " Time" bargains rapidly—nay, very seriously—
increases. The unprecedented quantity of 45,000 bales
of Cotton was sold yesterday at the port stated,
and the prices of the staple are again higher.
Now, it is quite impossible, if matters pro-
ceed in this way, that the spinners and ma-
nufacturers can take cottons with any prospect of
deriving profit from their own operations. Lacking,
therefore, a legitimate demand for consumption,
the Bulls of cotton will soon discover their
error, and, as referred to yesterday, in the re-
sult, they must have the satisfaction of knowing that
they have been too fast, or, in plain terms, " they
will burn their fingers." Other markets, for staple articles,
of produce, colonial as well as foreign, exhibit a really
healthy aspect. Bond fide purchases were made for
consumption, and scarcely a symptom of agitation is
necessary to keep prices up to full and- remunerative
values.

A very neat robbery was committed this morning at
the premises of Messrs. A. and B. Savory in Corn-
hill. The shopman left the premises to buy some-
thing (leaving the property to take care of itself), a cab
is handy, and one of the light-fingered gentry, or a
swell•mobsman, enters, and sweeps off watches of the
value of 1,0001., or may be 2,0001. The subject has
been a matter of much conversation in the City this
morning.
Consols have been rather flat to-day. The prica for
the Account has just receded from 934 to 93i- ex div.
There have not been any transactions on special order
in Consols for money to-day. Tt e premium upon Ex-
chequer-bills remains at about its.; the Three-and-a-
Quarter per Cents. are at 95i; the Three per Cents.,
Reduced are at 94k; and Bank Stock is at 2061.
The changes hi the Foreign Stocks have been very
light this morning. Mexican Bonds have been done at
231; the Portuguese FouriCents. at 36k; the Spanish Ac-
tives at 264; the Three per Cents.:at 37 the Dutch
Two-and a-Half per Cents, at 60k-, and the Four per
Cent. Certificates at 924.
The only movement of interest in the Railway Share
Market is the adjustment of the account. All, as 3et,
hras passed off well. With a very few exceptions, prices
are steady, us the rates given in the official list will best
show.

ONE. CLOSING
PRICES OF BRITISH FUNDS. O'CLOCK. PRICES.
Bank Stock 2061/2 207
3 I er Cent. Reduced Anns 9413 93%
New 31/4 per Cent. Annuities 96 95% 95%
Long Ailli IlitieS toexpire Jan.lB6o 9 15-16
South Sea Stock
Ditto New Annuities ... 9334 9334
Consols for Opening 931/%% ex div 93
Exchequer Bills, 1000/. 114 d. ... 11 p 11 p
I itto, 500/
Ditto. Small

ONE CLOSING
O'CLOCK PRICES
851/,
95
31/
191/,
3%
2 it/4
231 A
3614
36
2614
5
37%
391/,

CRICIS OF FOREIGN FUNDS.
Brazilian Bonds
Cuba Bonds, 6 per Cent .. •••••••••
Equacior Bonds
Granada Bonds, 1 per Cent. —
Ditto, Deferred •••
Slexican, 5 I,er Cent. 1846 2314
Ditto, Account . —
Portuguese Bonds, 4 per Cent
Ditto, Account 37
Spanish 5 par Cent. 1540.
Ditto, Passive
Ditto 3 per Cent. ... ..
Venezuela Bonds, 2 per Cent —
Dividends on the above payable in London.
Belgian, 21/ per Cent —
tJutch, 21/2 pa Cent .
Ditto, 4 per Cent. Certificates 921

micEs OP BUSINESS DONE CLOSING
R.IILWAY SHARES PAID.
AT ONE O'CLOCK. PRICES.
Aberdeen
Amber.. Nott.' Boston,
and Eastern Junction 2%.....
Armagh, Coleraine, and

Poifriish l%
Pellast & County Down 4 N ......
Birmingham and Dudley 423. ... .. .... . .....
Birmin. and Gli.ucester..loo
Ditto New l7l/i ••• ••
•
Birmingham and Ox-
ford Junction
Birkenhead, Lancashire,
and Cheshire June.... 274 —
Boston, Stamfd, & Birm. 228. —
Bristol and Exeter
Ditto, New
Bristol and,Glouce*ter 3O ......
Bristol and Liver. June.. D.A.__ ..._
Buckinghamshire
Caledonian
233/1
Ditto Half Shares 2l/i .........
•"".
Ditto, Clydesdale June 25
Chester and Holyhead... 271/
Clzurnet and 81ythe...... 2 112.,....
Chester and Manchester 425. —
Cheltenham and Oxford 2 ......
Clarence lOO
Do. Ist Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent.
Cork and Killarney
Cerk and Waterford ... 1% —
Cornwall
Ditto, Half Shares
Direct Lincoln, East Ret-
. ford, and Sheffd. June. 2% —.
Direct Northern
Direct Norwich
Dublin and Belfast June. 1.21/,,
Dublin, -Belfast, and
Coleraine
Dublin and Galway..... 4
Dundalk & Enniskillen 10
Eastern Counties 14/. 16s . . 22%742
Ditto New
Ditto Perpetual, 5 per
Cent, No. 1....... 61.135. 4d...
Ditto ditto, No. 2... 6/. 13s. 4d... % p.../
Do., York Extension.. 2 ... 3Ve 's
EastDereh'in andNoech 1
Eastern Union
Ditto, Quarter Shares 83/4 —
Do. Exten.(llarwich) 1% — . ......... ....„
Do., Cainb. and Ely.. 2142 — ...............
East Lancashire . l4 - •• •••• ........
Ditto, New
Do., do. (late Preston
and Ormskirk )..................
Do., do., New Scrip ll/i
~..
........
..
East Lincolnshire ... •- 11/4••• ••• ......
East & West of England 1% _. .
..............
Edinburgh and Glasgow 50
......'.....•••
Ditto Half Shares ... 10 - ••
....
Ditto, Quarter Shares 12%
.. ..,,,, _ .
Edinburgh & Northern.. IDA

........ ••
Ely andiluntingdon ... 12% ...... 131 .....
E x e
t Enniskillenerco
va 111
,dsc SligoD or
Dorset
giz%,
............
..i..
Glasgow, Hilmar., &Ayr 50 . ..... __
......
Ditto, New ......... l5 , ..... ......
Do., i Shares (5 per
cent. guar.) . ........ 121/2„,...
Goole, Doncaster, &c. _ 2 .
Grand Union (Notting-
.....
and Lynn ... ............ 1% —.. ...... •••••
Great Eastern & Western 21/2 - Great South. and West.
(Ireland) ............. 271/2 —
Great _Munster ........... .. 2%,
Great North of Scotland VA..—
Great Northof England..loo
Ditto New .............. 5 Ditto, New -
Ditto, New
Great Wester.;
Ditto IA Shares ..... .. 50
Ditto IA Shares lO
Ditto Fifths
~...
Ditto, New
Huddersfield & Manches. 13 ...... 17 16,4 ......
Ditto, Extension 3
Hull and Selby 5O
Do. Half Shares 25 —
Ditto 1% Shares
Ipswich & Bury St. Edm. 11% —
Do., do., and Norwich 21/2 _
Lancaster and Carlisle... 50
Do. New ... 5
Leeds and Bradford
Leicester and Bedfjrd... 16s.
Leeds, Dewsbury, &c.... 2214
..•
Do., Branch ( Blue) ... 214 —
••• •
Do.Extension(Green) N.. ...
Leeds and Thirsk l7l/2...... 151/..,.•
Ditto, New - ........ •••
Lpool., Mnchstr &New •••
castle Junction
London and Blackwall. 161. 135.4 d. BVs
Do. New
Ditto Extension ~ 7l/,'2......
London, Brighton, and
South Coast
Ditto, Fans
Do. Consul. Eighths.. 10
Do. Guarant. 5 per ct. 9
Loudon and Greenwich 12/ 15s 1d 9IA . •• •••
..............
Do. Preference ...18/17s 2d —
London, Hounslow, and
Western
London and N. WE iternloo ......195 ..
Do. Quarters .. 2 ....
Do., do., New
15 1414
1/Ditto Fifths ..... .... 5
2 ""•• 19
Do. Shares (G. J.)
Do 40/.Shares(L.M.) 8
Do. 40/. (M. & B.) ... 40
Do. 10/. (M. & B.) A. 5
Do. 101. (M. & B.) B. 5
Do. 10/. (M. & B.) C. 1

22
la P

3(1 P
3,)

13%

75 EA

8!4

151,

583,
471%
144

9

224
141/2
19

Af
f-43
,
A.
- • k . „
<•
trc, -4f . 47s
-