The Sun.
London, England, 1848-06-02 00:00:00

dateship is posted up on, the walls of Paris, testifying
to the weakness of the public authorities, who know
not how to make the sovereign decrees respected.
To-day, perhaps, this is an act of eccentricity, a
madness, a dream of Charenton ; to-morrow it will
be a regular policy—it will be the Government. When
trees fall they leave roots, and offshoots soon spring up.
But let us not insist on the matter any longer; let us
not put forward our counsels to those on high; it is
to the people that it is necessary to address the request
for liberties, or for a return to the country ; they
alone are not intoxicated with pride, they alone are not
unmindful, and it is to them we shall address the ques-
tion whether they will guard and strengthen the Go-
vernment of the Republic. They are aware as well as we
that specie has emigrated, that devotedness has become
hypocrisy, and that all that have come to us from the
old Government supporters have been actuated by 14;
desire to have a share in the spoil. If the people
wish to return to their former slavery, if they are
willing to have the rights withdrawn from them which
they achieved at the price of their blood, if they re-
pudiate their barricades, if the instillers of poison, who
every day preach to them of dynasties have won them
over to the institutions which they hack destroyed, their
part is easy; they have only to leave to others the care
of their destinies, end to resume their former place as
helots in their country."

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
There was yesterday a dull market for Cotton at
Liverpool, but without any change in prices. Sales,
3,000 bales. Railway Shares were heavy, and there was
but little business done.
Returns have been completed for the first four
months of the present year respecting the imports and
exports of Belgium, compared with the corresponding
period of 1847. The imports show an increase in cattle,
and a decrease in sheep. The increase in coffee was
from 3,165,320 kilogrammes in 1846, and 9,861,064
kilogrammes in 1847, to 10,734,186 kilogrammes this
year. Of cotton wool the quantity imported last year,
to the end of April, was 1,867,215 kilogrammes; and
this year, 3,054,106 kilogrammes. Of grain the imports
were larger. In raw wool there was a decrease; in
rice a groat augmentation, and also in salt and raw
sugar. The quantity of cotton fabrics introduced was
smaller.
• The exports of Belgian products and manufactures
were larger as regards fire arms, refined sugars and zinc.
In cotton fabrics also there was an increase. A decrease
is observable in coal, leather, linens, machinery, woollens,
and glass.
There is nothing new in the City, but we hear com-
plaints on nearly all hands of the extreme dullness of
trade. In the Colonial produce markets there has
perhaps not been so much reason to complain, but still
holders are more inclined to press sales.
The • corn trade is affected both by the favourable
weather, and the arrivals of foreign, and prices are to-
day barely maintained.
We adverted yesterday to the unfavourable anticipa-
tions with respect to the revenue, and the bare mention
of a possible increase to our present overwhelming debt
is so distasteful, that a counter proposition, viz., for a
reduction, should excite the opposite feeling, unless con-
sidered, as we apprehend it might, to be too good to be
feasible. In an article upon the effects of the usury-
laws on the funding system, which appears
in the Banker's Magazine, there are, neverthe-
less, some interesting suggestions. The writer observes
that :—"lt is obvious, from the manner in which the
loss occurred, namely, that of granting annuities at ,
three per cent. and four per cent., when the market
rate of interest was five per cent. and six per cent. ; that
if the market rate of interest should rise to five or six
per cent., the government might borrow at one of those
rates, and buy up a great part of the three par cents.,
and so save a considerable portion of the loss. The
same object might be effected to a less extent if the
Commissioners for the Reduction of the National Debt
were authorised now to create funds of 34, and
4 per cents., and sell portions of these funds from time
to time, as the market rate of interest would allow them
to be sold at or near par, the produce of the sale
being laid out in purchase of three per cents.
This plan would entail a alight temporary burden,
"as an annual sum, in the Three-and-a-Quarter, Three-
and-a-Half', Three-and-Three-quarters, or Four per
Cents., would not realise as large a price as the same
sum in the Three per Cents. But there is an instance
stated by M'Culloch which shows that the temporary
increase of annual burden would be trifling compared
with the ultimate reduction in the terms of redemption
of the debt. In the year 1815, when the last loan to
which I have called attention was contracted, 18 mil-
lions of Exchequer-bills were funded at the rate of
1071. ss. per cent. stock for every 1001., being at the
rate of 51. 17s. per cent., or only 4s. Bd. per cent., or,
according to the correction of Dr. Hamilton, of 2s. 6d.
per cent., for the difference between funding Exchequer-
bills and raising loans on 2e. 2d. per cent. of additional
annual charge. Thus, if the entire loan of 36,000,000/. in
1815 had been funded in 5 per cents., as the 18,000,000/. of
Exchequer bills 1% ere, 24,120,000/. might have been saved
in the terms of redemption, at the trifling annual charge
of 39,000/. This last year would have afforded a most
favourable opportunity for trying this plan of reduction,
as the Funds were lower than they had been for many
years. Even yet, Three-and-a-Half per Cents. would
sell at par. If this plan of reduction were adopted,
whenever the rate of interest rose they could reduce the
annual charge. Nearly 3,000,000/. of annual charge has
been saved by Government taking advantage of the fall
in the rate of interest ; but I am not aware that any
attempt has been made to take advantage of a rise in
the rate of interest."
There has been more Money Stock brought to market
again this morning, and the quotations have been 83i to
84k for transfer, and 84 to for account. This still
looks like " bulling." Bank Stock has been quoted 191.
Exchequer-bills are better-325. to 365. premium.
The Foreiga Bonds have been flat again. Spanish
per Cents.
mex
2F2i e. per
r o
rCt eu ng tus
e. s
el2rotuor
per
i-
can are 15, and Brazilian 67.
Cattundt s .t he
have T hbreeeen
Railway shares are heavy.
BRITISH FUNDS TIIIS DAY AT ONE O'CLOCK.
(From the Official List.)

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, JUNE 1.
Boulogne and Amiens, 6A—Madrid and Valentia, %
Northern of France, 4%.

-
Bank Stock - 191
3 per Cent. Reduced Annuities.— ..... 8214 v,
3 per Cent. Consols Aims..
New 314 per Cent. Anas. B3A I/2
Consols for Account
Exchequer Bills. 21d. & 3d.
1,000/.
500/.
Small 32 p
Ditto Advertised lB 22 23 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent
Mexican Bonds, 1846, 5 per Cent l5
Portuguese Bonds, 5 per Cent
Ditto 3 per Cent l5
Ditto 4 per Cent.
Spanish Bonds, 5 per Cent,lBlo 12) 12
Spanish Bonds, 3 per CenL
Dividends on the above payable in London.
BUSINESS DONE IN RAILWAY 811ARE11; AT ONE O'CLOCK
RAILWAYS. PAID. Piz SHADE.
Aberdeen

Amber., Notting., Boston, &c. 314 1 to
Ayrshire and Galloway
Belfast and County Down .. 14% .. ..
Birmingham & Oxford June... 20
Birmingham, \Vol., & Dudley 10 ... .
Birming., Wol., & Stour Val. 121.45....
Birkenhead, Lancashire, and
Cheshire Junction..
Boston, Stamf., & Birming... 5
Bristol and Exeter
Do., Thirds
Buckinghamshire... l4l. 45.......
Caledonian
Ditto, Half Shares
Ditto. Clydesdale Junction 50 -
Chester and Holyhead 421,x .....
Ditto, Preference
Clarence.
__ 7814

Do., Ist Class, 6 per Cent... 10. - • ... to
Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10
Direct London & Portsmouth 514 to
Dublin and Belfast Junction.. 27% — to
Dundalk and Enniskillen ... 17% ......
East Anglia, 25/. L. & E.,
load L. & D
Ditto, 18/., E. & H lB — to
Ditto, 31. 10s., E. & H... 3% 3;g..... to
Eastern Counties ....
Do. New Guarant. 6 per Ct. 21/a 3% to
Do. Perpet.,s per ct. No. 1,6/. 13s. 4d...
Do., d 0....... N 0.2,61. 13s. 4d...
. Do., Northern & Eastern... 50
Do., Quarter .... ....... ...... 12%....
D0., New
Eastern Union, Class A (late
E. U. Shares) ...... ... .. 26
Ditto, ditto, Class A, ditto 1 .
Ditto, do, Class B (I. &B) 17% 5% to
Ditto, do, Clasi C, ditto... 17% — to
_ _

. .
Ditto Scrip (gua. 6 per ct.) 10 — to
Ditto, ditto ...... ......—.... 20 ......
Ditto (C. & E.), 5 per ct. 24. .....
East Lancashire
Ditto, New .. ........... .... . 17
Do., New Quarters
East Lincolnshire 20% — to
Edinburgh and Glasgow 5O 44% to
Ditto, Half Shares
Ditto, Quarter Shares 12% to

dinburgh and Northern ... 25 '
Ditto, New ... 64 — .... . . to
Ditto, New port l3
Ditto, ditto, New 33/ — ...... to
Exeter, Yeovil, & Dorchester 2% — to
Ditto, New .... ........... ... 2% — to
Glasg., Dumfries, & Carlisle-81. 66.8 d... .. to
Glasgow, Kilmarnock, & Ayr 50 ......
Ditto, New
Do. Preference Consolidated 15
great Northern.... .......... ... 15
Do. London & York Eaten. 2%
Gt. South. & West. (Ireland) 40 — to
Great North of England 100 —
Ditto, New 40/.
Ditto, New 301.
Ditto, New 15/...... ... ...... 11% ..-.. .
Great Western
Ditto, Half Shares
Ditto, Quarter Shares 17% —_ to

. _
Ditto, Fifths . _
20
Do. New 171.
Huddersfield and Manchester 26 .• to
Ditto, Thirds
Hull and Selby 50
Ditto, Half Shares 25 ......

Ditto, Quarter Shares 121,4 — to
Lancaster and Carlisle.... ... 50
Do.,Thirds lO ......
Lancashire and Yorkshire ... 93
' Ditto, ditto
Ditto Half Shares ... 43 ...... ...... to
Ditto Quarters 14% — ... .. to
Ditto Fifths
Ditto Sixteenths ........... 6i,s1.••••• ..... to
Ditto Thirds (Reg.)
Do. Liverpool and Bury... 43
Do. (Hudders. and Sheff.) 38
Do., Wakefield, Pontefract,
and Goole
Do., West Riding Union... 6 .... .
Do., Preston and Wyre ... 25
Do., do., Half Shares (A) 9
Leeds and Bradford
Leeds,Dewsbury,& blanches. 471,4 —
Do., Half Shares
Ditto, Blue (scrip) ..... .... 2% — to
Leeds and Thirsk ...—.... ..... 45
Ditto, New .. .... 26 . ....
Do.,do.,Prefer., 6 per Cent. 31,.....
Liverpool. Crosby, and Sout h-

_
port 3% to
Liverpool, Manchester, aria
Newc..stle Junction. 2% to
London & Blackwall 131.65. 80....
Ditto New, No. 2 6l. 13s. 4d....
Do. Extension
Lond., Bright., & South Coast 50... 31 y% % x.n. to
Do. Consolidated Eighths... 40 ...... ... .. to
Do. Guaranteed 5 per Cent. 9 ......
Do. Pref. Cony. 5 per Cent. 50 ....„ „
Ditto, ditto 1852 50 .....
London and Greenwich... 12/. 15s. 4d...
Ditto Preference lBl 17s 2d..
London & North Western.....loo l2B ~.... to 127
Do. Quarters (L. and B.) 22 -
D-). New
Do. Fifths
Do. 401. Shares... _L. & M 20 ...... ..... to
Do. 10/.... M. mad D. (A.) 72/Q..... 9 . ..... to ^

FRIDAY EVENING, JUNE 2, 1848:

Do. 104, .. M. and B. (B.) 74 9 to —.
Do. 101. ... M. and B. (C.) 1
London and S. Western....... 50
Ditto, New 501. ........ 424...... to
Ditto, New 404.... ..... .. .. 34
Do. TenthsgConsolidated) 50 ••-•• to
Do. Tenths (Consolidated) 40
Ditto, Thirds ... . ... 10 ...... 7
London, Salisbury, & Yeovil 1% — to --
Londonderry and Coleraine... 27% — ...... to
Londonderry and Enniskillen 25 —
Lowestoft (guar. 4 per cent.) 20
Ditto (guar. 6 per cent.... 8
Manch, Buxton, & Matlock 4
Manchr, Sheffield, and Linc.100
Ditto 14 Shares (No. 1) ... 13 ......
Ditto, ditto (No. 2) 25 — to
Ditto, % Shares (No. 3 )... 754 ......
Do., New 101. Preference.. 7% — to
Ditto Grimsby ... 3O
Ditto, ditto.
Ditto, ditto
Ditto, Sheffield, and Line. 10 ..-..
Ditto, Grimsby Dock ...... 15

,
Ditto, Nan. & Lin. Union 41. 2s. ...
Manchester and Southampton 214 — .. ... to
Michaud. lOO lO3
_ . _

Ditto, Consol. Preterence...100

Ditto, SW. Shares..... ...... 15 9 to
Blidland, Birrn. and Derby...loo
Midland, Consol. Bristol and

Birmingham, 6 per cent.... 100 to
Midland, Bristol and Giouc. 36 ...
Ditto ditto 11/. 38.6 d.
Midland, Leiccs. and Swan-
nington (8 per ct.gua.)....100 .
Midld. Great Western (Irish) 40
Middlesbro' and Redcar. 6
per cent. guar.
Newcastle and Carlisle . 100

Ditto Quarter Shares
Newmarket arm Chestertord 181/2 . to

Ditto Extension
Newport Abergy., and lieref. 6
Norfolk lOO -
Ditto New 201.
Ditto Extension

Do. Guaranteed WA per ct. 5
Do. Scrip .18-17,1S.o1Norflk 2 . .....

Do. do. Waveney Valley 2 ...... ... .. to
Newry and Enniskillen 7 ...... ...... to
Newry, Warrenpoint, and
Tiostrevor ... 124 ..... ... .. to
Northern Counties Unien .... 4 ......
North British
Ditto Halt Shares. .....
Do. Quarters 61,4; ...... 5
_..

Ditto. Extension
Ditto Thirds ... ........ .-.... 3 --- 1
North and South-Western... '2 .. ..
North Staffordshire— .. l2 !-4 • lO .
North Wales
North Western 7l/2...... _ ...., to
Oxford, Worcester, and Wol-
verhampton
reading, Guildfd., & Reigate 71A—...:
Royston and Ilitchin
Scottish Central
Scottish Midland ... ......... ... 25 ......
Ditto, New...
Sheffield, Rotherham, and

Goole 5 - .. ••• to
Do. do. (South Div.) 4 .....
Shrewsbury and iiirmingliam 8
Ditto, ditto, Class B. 5 . — to
Shrewsbury and Chester
t Nor. VI . Min.)
Ditto Halves, Ditto... 8 ... .. .
Ditto, Uswestry IG
Ditto (New) 1
_.. . __

Ditto 8 per Cent. Pref 8 . .....
Shropshire Union . 4
South Devon ....... ...... ... 45
Ditto, Preference 25 ......• ...... to
South Staffordshire 512
South Eastern
:to
Ditto, New, No. 1
Ditto, N ew, N o 9 l7
_to
Ditto, New, No. 3 ... 20
Di!-.to New, No. 4............ 83/4 5% to
South Wales
South Yorkahire, Doncaster

and Goole
Swans. and Loughor and Ca-
meron's Stm. Coal .. . 6
rhames Haven Dock and

Railway l-I,e
i ,2
Taw Vale Extension ... ..... 6
Vale of Neath - - ••• to --
Waterford and Kilkenny 151,4......
Waterford and Limerick..... 424.....
Waterford, Wexford, Wieklw,

and Dublin . 3
Wear Valley 6 per Cent.
Guaranteed
1)o. do. do.
West Cornwall
Whitehaven and Furness ll ... ..
Windsor, Staines, and South
Western .. 9 i.A — ..... to
Wilts, Somerset,&Weymouth 35
York, Newcastle, and Berwick 25
Do. Original New & Ber'ck 25 ..
Do. Exton. No. I (Y. & N.) 15
Do. do. No. 2, New &B. 10 ... .. to
Do. G. N. E. Pur. or Pref. 8 ... ..
.
York and North Midland .. 50 ......
Ditto, Preference lO
Ditto East and West Riding
',l; Extension
FOREIGN RAILWAYS.
Boulogne and Amiens 2O ....... -
Central of France ( Orleans
and Vierzon)
Ceylon ..
Demerara.
Dendre Valley
Direct Bombay and Madras ss. • .... .
Dutch Rhenish
East Indian
Great Indian Peninsular 5x....... . to
Italian and Austrian
Jamaica S. Midland Junction 1
Louvain ala Sambre
Luxembourg
Lyons and Aviguon (Con-

_
stituted) .., , -
5 - .. to
Madrid and Valentia
Namur and Liege . lB
Northern of France
Orleans and Bordeaux ... .. 6
Over Yssel 4l3s 4d .
Paris and Lyons
Paris and Orleans
Paris and Rouen 2O
Paris & Strasbourg
Rouen and Havre ........ ...... 20
Sambre and Meuse 20
Strasburg and Bale ..... ...... 14 . — to
Tours & Nantes ... - ...... .. 8
Tournay, Jurbise, Landen,
and Hasselt
West Flanders
JOINT STOCK ISANKS.
Australasia -
British North American .... 50
Colonial
Commercial of London ..
London Joint Stock ....
London and Westminster... 20
National Provincial of linglci. 85
Ditto, New
National of Ireland 22% -- .... to
Provincial of Ireland
Ditto, New lO
Union of Australia .. ..: 25
..... to
Ditto, New 2% to
Union of London ....... . ...... 10
Union of Madrid 40

MINES. -
Anglo Mexican lOO ......
Asturian Mining Company... 12
Australian o%
. ..... to
Blaenarvon Iron and Coal ... 50
Bolanos Scrip —
British Iron
Brazilian Imperial ..... .. ... 24
Galvanized Iron
•••••• to --
Ditto, New
Real del Monte, Unregistered . .. 11A..... to
Do. Black Debentures —
5 •••••• to

LLOYD'S SHIPPING—(THIS DAY.)
LONDON, JUNE 2.--Wind W.S.W., fresh breeze, with
rain at interval,.

LIVERPOOL, JUNE I.—Wind W.N.W. —May 31, Arrd.
Syria, Symonds, Calcutta; Commerce, Stow, Bonny;
Raphael, Brown, Callao; Hopewell, Newton, Paraiba;
Mary Ray, Elwood, Demerara; Sir John Beresford,
Shreadgold, Apalachicola ; Evergreen, Vassey, Sa-
vannah. June I.—Sarah, Horn, Tradetown; Panope,
Ripon, Valparaiso and Bahia. Jan. I.—Sld. Helen,
M'Cillock, Jamaica ; Leander, Symonds, Savannah;
China, Pascoe, Charlestown ; Patrick Henry, Delano,
New York. May 31.—Sid. Adept, Bathurst, and Eu-
phrates, Brazils; Anne, Grasse, and Viceroy, Quebec.
Off port, June I.—Waterloo, Ganges.
Otr DOVER, JUNE 30.—Princess Sophia, Batavia, for
Rotterdam.

LIVERPOOL,JUNE I.—The Panope, Ripon,which arrived
here to-day from Bahia, was obliged to be accompanied
as far as Maccio, by her Majesty's ship Grecian, having
specie on board, and there being several suspicious-
looking vessels in Bahia.
DEAL, JUNE I.—Wind W.N.W.—Arrd. Cyrus,
Spratley, South Seas ; Australian, Sydney, New South
Wales ; Trafalgar, Morrison, Sydney, New South
Wales ; Two Anthonys, Plug, Batavia, and sailed for
Rotterdam ; Patience, Stenmann, Bath, and sailed for
Elsinore ; Marlborough, Webb, Calcutta Mer",
Maaton, ditto ; Neloo, ditto ; Sumatra, Johnstone,
Ceylon ; East London, Thomson, ditto ; Duke of Wel-
lington, ditto, and Barbadoes ; Psyche, Irving, Mauri-
tius ; Louisa Munro, Harding, ditto ; Amity, lilacklock,
ditto ; Blue Bell, Wilson, Algoa Bay.
DOVER, JUNE I.—Wind N.W.; N.N.W.—Arrd
Siegmund, Brans, Malaga, for Cronstadt;
Bur-
meister, Bordeaux, for St. Petersburgh; KleinaCa-
thinks, Niehaus, Bordeaux, for Bremen; all put in on
account of the war.
DUBLIN, MAY. Demerara; Wanderer
Stranger, Miller, e S.Wto W(
o'fS.YWa Yarmouth),
rt
hr
sSptr.iJt.ohnsisd,. NGerawngßerr
Bsawbiciak; with loss of head and bow-
DEAL,
to-day,
Arerported.
CO rd.
JUNE I,—The Tweed, Catchpool, for Cape
Castle, did not put back
Lucius Carey,
Corti, MAY 30.
Dyer, Girgenti;Ro-
m SatthaniWildeE,,dCmSoOokrer,isoTnr,ieTsteer;ralnNtroevpai.d,
berts, Ibraila;
Glenmore, Gloucester; Albert, Kilrush; Melpomene,
London.

TREATMENT OF MITCHEL AT SPIKE ISLAND.—A
letter was received on Wednesday afternoon, by Mrs.
Mitchel, from her husband, in which he says he has
been treated, at Spike Island, with as much kindness as
could—according to the rules of the depot—be shown to
him. The household furniture of the convict is to be
sold by auction, in a few days, for the benefit of Mrs.
Mitchel.

NORTH CHESHIRE ELECTION.—The nomination of
a knight of the shire for North Cheshire took place on
Wednesday at Knutsford. Mr. George Cornwall Legh
and Mr. F. D. P. Astley having been duly proposed and
seconded, the show of hands was taken, and was declared
to be in favour of Mr. Astley. A poll was demanded
on behalf of Mr. Legh.