The Sun.
London, England, 1848-06-26 00:00:00

S N 9 JUNE 26, 1848.

House insensibly. And still more, since they had no
second Chamber which by possibility might act dur-
ing the non-existence of the other. Fancy an
Emperor of Russia having something to say to France,
and calculating the movements of his Cossacks on the
time when the Chamber must come to its triennial
death. Surely there might have been better invention
to meet it. An English King or Minister has the
power of dissolving this year, lest it should be fouler
weather the next. And this power too, the French
Constitution is without.
The subject must be continued when room.
Blackheath,, London,
I am, Si yjouunreo2be6 obedient servant. rvant,
T. PERRONET THOMPSON.

AMERICAN NEWS.
ARRIVAL OF THE NIAGARA

LIVERPOOL, SUNDAY MORNING.--The new Mal
Steam-ship Niagara, under the command of Captain
Ryrie, arrived abreast of the Coburg Dock, at four
o'clock this morning. She started from Boston on
the 14th instant, being the fourth day following the
departure of the American steamer United States,
from New York, which arrixed at Cowes on Friday
last, and Captain Ryrie has now accomplished the
shortest homeward run yet performed, one of ten and
a half days from Boston, and ;eight and a half days
from Halifax. t The steamer America, Captain Jud-
kins, on her second outward voyage, we learn reached
Boston in the equally extraordinary space of time of
ten days and a half.
The amount of specie by the Niagara does not. ex-
ceed 14,0001., New York being now the favourite port
for shipment.
Official intelligence of the ratification of the Mexi-
can treaty has been received at Washington by the
Government, and communicated to the Senate. The
news having reached New York by telegraph we
have not the details, but the dates from Mexico are
the same as those received by the United States.
General Taylor's nomination by the Whig Con-
vention at Philadelphia does not meet with the appro-
val of a large portion of that party, including the ad-
mirers of Henry Clay. The abolition Whigs of
Massachusetts have decided upon holding a conven-
tien on the 28th, to oppose his election, and other
northern and eastern states are likely to follow their
example. It seems apparent that General Taylor
will not receive the hearty undivided support of all
the Whigs of the north, nor General Cass the undi-
vided support of the Democracy.
Under this state of things says the Herald—
" It is probable that we shall have a third candidate
in the present canvass; and, in this respect, the Fourier
portion of. the Whig party will resemble the barn-burn-
ing portion of the Democrats, and, perhaps, fraternise
together on the same platform. A portion of
the northern and eastern Whigs have already refused
to give their support to General Taylor, on the
ground that his nomination was procured through
southern influence; and a large portion of the De-
mocrats of this state refuse to support General Cass from
precisely the same motives. The probability, therefore,
is, that the recusant factions of both parties, having
jumped out of the traces of party for the same cause,
may unite hereafter, and form the nucleus of a great
northern anti-slavery party, which may yet control the
politics of the whole country. If such an event take
place the north will be again arrayed against the south
on the question of slavery, unless, in the meantime, the
matter shall be satisfactorily adjusted in Congress, and
thus prevent a great deal of ill-feeling between different
regions of the country.
"The matter is now in its incipiency. We shall see
how it will end. One thing, however, is pretty evident
—that the Whig and Democratic parties, so called, are
about to be revolutionised, and new parties, new party
lines, and new party issues, are about to be formed, the
end of all which no one can tell. In the midst of this
disruption, secession, confusion, and turmoil, among
both the old parties, we still believe that General Taylor
will be elected next President, if his supporters work
like beavers through the summer, up to November. Ge-
neral Cass cannot be defeated without great effort."
The advices by the steamer Acadia, which arrived
at New York on the 10th, have had no material in-
fluence on the markets ; her news was considered un-
favourable—politically, from warlike accounts on the
Continent ; and, commercially, from drooping
prices of cotton ; and these, combined with an in-
creased uneasiness which the continued shipments of
specie has occasioned, have operated in producing
heaviness in the stock and produce markets.
Regarding the future prospects of breadstuffs, we
quote the Herald, which says—
"lt is the opinion of many engaged in the trade that
prices for breadstuffs must, before the close of the
season, rule very low—lower than they have been
known for many years past. Circumstances certainly
are in favour of this ; but we cannot agree with them.
The absence of an external demand of any importance,
and the favourable prospects of an abundant harvest,
are strong evidences in favour of a very great reduction
in prices ; but the farmers are not disposed to submit to
any great decrease from those now current ; if they
cannot get such prices as are sufficiently remunerative,
they will keep back their supplies. The farmers are
much more able to do so now than they have before
been for several years. The stock of breadstuffs in the
interior must be very large ; the crops of last year have
not been brought out, the demand for flour for shipment
having ceased just at harvest time last season ; and it
must be admitted that the quantity of grain raised in
1847 exceeded that of any one of the previous ten
years. The high prices current at planting and sowing
time gave a great impetus to production, and the breadth
of land cultivated in the fall of 1846 and spring of
1847 was, probably, greater than in any previous.year
within the history of the country."
Again, on the specie drain :
" The depreciation in most of the fancies is attributed
entirely to the continued exportation of specie in such
large sums. Within the past week about 808,000
dollars have been shipped to Liverpool and Havre, and
there are no indications of an immediate suspension of
the drain. It cannot continue much longer without se-
riously embarrassing our city banks. and through them
the commercial classes generally. The receipts of
specie from the south and west are falling off, and the
supply will have to be furnished by the Atlantic cities,
btehnieoswpeantSeixda
if the demand is kept up.
"In the face of this drain of the precious metals the
importations are increasing, even upon those of last
year, when they were known to have been large.
f.hut
a1:560t ;
yeolseo7stot:hotbrocaioennnssotpmf.
transpired, anti
before
forewfoi
rl thele
r
at Washington, Bids for a much larger sum than that
e
p.
ne
requiredo'Offic nee atSaturday,
hl
nLaaovtaeun,r
and probably will
premium varying from 1 to 2 per cent. ; but nothing of
*
not before the appointed day."
From nearly all quarters the prospects of this
year's harvest, both in cotton and corn, are highly
cheering. The Courier says—
" The weather throughout our country has been ex-
tremely propitious to the growing crops, cool, with
bright sunshine and occasional rains. The growing
crops everywhere are full of promise—and as yet we
hear of no indication of disease in the potato. It is too
early, however, in this region and further north, whence
the chief produce of potatoes comes, to form an opinion
except from the appearance of the vines, which in the
early potatoes are now blossoming, and seemingly sound
and vigorous.
"Of the cotton crop—a report of cut-worm in one
locality is all that we can see or hear to
the contrary of
the growing crop continuing in a promising and flourish-
ing state.
" The first cotton bloom we have heard of is earlier
than in any year since 1842—the year which produced
the previously incredible large crop of 2,399,000 bales,
including Texas cotton."

NEW YORK, JUNE 13.
THE MARK STS.—The approaching period for bids for
the sixteen millions loan causes some increased pressure
in the money market, by the preparations for the bid-
ding, which continued, and, as to the time of its ter-
mination, indefinite export of specie, aggravates.
Money Market—The sales at the Stock Exchange
this morning have been moderate, without any material
change in rates. Treasury notes closed at 1071; United
Statessy lv a n Sixesia
Fives, of '67,75 1E01;
n
fair request at 110 f to 110 i. Nothing has been done in
anOgheiooSni xEen3 golfan'T hlaosl been P eust
continental exchange of any account.
Freights—For Liverpool corn in bags is taken at 51
and in bulk 7d.; cotton, 3-16 d.; tallow, 20i. per ton;
beef, ss. per tierce.
Flour.—The flour market during the week past has
been firm, and prices well maintained. The home and
eastern demand continues good—prices have advanced
about 50c. during the week, and at the close this morn
ing it was rather difficult to obtain the upward prices
The range has been 5 dolls. 50c. to 5 dolls. 87ic. for the
lower grades, and 6 dolls. to 6 dolls. 12ic. for the better
kind; sales of Canadian at 5 dolls. 25c. in bond; southern
brands are quiet at 6 dolls, to 6 dolls. 12ic.; rye flour is
rather better, and brings 3 dolls. C2ic.; corn meal sells at
3 dolls. 56ic. to 3 dolls. 621 c. ; for Jersey and Brandywine
3 dolls. 75c.

steamer, saga:—"The
Cotton.—Thomas Stewart, in his circular for the
of this market on the 30th ultimo, the steamer United
day after issuing my last report
States arrived with an advance of an eighth of a penny
per lb. at Liverpool on all grades below 4id. Her accounts
created a good inquiry for several days, and very full prices
were cheerfully paid, the transactions resulting in es-
tablishing the market at a quarter of a cent. to three-
eighths up; the sales up to one P.M. on Friday, June 2,
at which hour we received the accounts by the steamer
Niagara, amounting to 1,500 bales daily. The advices
by this steamer being directly the reverse of the antici-
pations of operators,. created a dulness and a total indis-
position to do business for the next two days—the sales
of Saturday and Monday together being barely 800 bales.
On Tuesday, the 6th inst.,about 1,200 bales were disposed
of, at prices one-eighth lower. On Wednesday 1,000 bales,
without any perceptible change in rates; holders con-
tinuedindifferent about selling, and the market, although

[PRICE SD.

not distinctly dull, had a languid aspect, most parties exhi-
biting confidence in the safety of present prices, and
there was no desire shown to press more cotton on the
market than there was a legitimate inquiry for. On
Thursday only 700 bales were sold, and prices were con-
sidered a shade lower. On Friday 1,300 bales found
buyers, which included 350 bales taken for Havre, being
the first purchase of any moment since the revolution.
Ou Saturday morming we received the accounts by the
Acadia to the 27th ult. from Liverpool, which, fully
confirming the decline by the Niagara, caused seine dis-
appointment, and there was very little business done on
that day, the export purchases being confined chiefly to
one party, who took 800 bales, at rates called a quarter
cent lower than those paid the day before—the home
trade taking 300 bales only.