The Sun.
London, England, 1846-01-06 00:00:00

THE SUN, LONDON, TUESDAY MORNING, JANUARY 6. 1846.

for the year 1846 and the interest, but no definite ar-
rangement took place. It was generally understood
however, that the Directors were to give in their ulti-
matum on the following day, and that it would be
accepted.
The following appears in the Gibraltar Cronica
relative to the outrageous attack made by the coast-
guard upon a British merchant vessel :
" The Minister for Foreign Affairs of Spain has ad-
dressed to the Ambassador of Englund at Madrid the
annexed communication, which does honour to the
Spanish Government:— Her Catholic Majesty having
taken into consideration the circucctstarces of the attack
made by the mass guard vessel Jupiter, on the 24th of
September last, against the British feluccaVoluntaria, has
dismissed her commander, and ordered that he shou.d
never be allowed to re-enter the service of the State."
On the 27th the Three per Cents. closed at 36 9-16
for cash, and 361 at 60 days.

'The Paris papers are chiefly occupied with the
annual addresses made to the KING on the first day
of the new year, and his MAJESTY'S replies, and the
proceedings of the Chamber of Deputies in their bu-
reaux to nominate the Committee on the Address.
The latter possessed much interest, as they afford
means not only of judging of the intentions of Go-
vernment with regard to certain points of foreign po-
licy, but the principal measures to be brought for-
ward this session. M. GUIZOT adverted to the
Message of the American President, and denounced
the absurd claims of that personage to the
right of excluding all European interference
in the affairs of the New World. " France,'
said he, " was interested in seeing independent
states spring up in America. A universal
republic ought no more to be permitted to be esta-
blished in America than an universal monarchy in
Europe." This is the language which every European
State is entitled to use, and Mr. POLK will find that
his words, though directed chiefly against England,
will excite the indignation of every independent state
in the old world. The Finance Minister announced
that it was not the intention of the Government to
bring in a Bill this session for the rednction of the
Five per Cent. Stock, but they would
propose a modification of certain taxes, and
among others, a uniform tax on letters. The
following is an outline of the discussions in the cora-
mitties LASTBIGRIS declared that what prin-
cipally struck him in the Speech from the Throne, was
its departure from the principles of the Revolution of
July. In place of laying down political data on which
to treat the great national questions, mere family
matters had been brought forward. The Honourable
Deputy then alluded to the differences which, he said,
existed between the Minister of "War and the Go-
vernor of Algeria, and declared that he considered
them calculated to impede the advancement of
the colony. He also referred to the internal
state of the country, and denied that it was
so favourable as was represented.—M. DE PETRA-
MONT defended the state of the country, both exter-
nally and internally. He alluded to the jobbing that
had lately taken place at the Bourse, and maintained
that in the midst of the fever of speculation that had
arisen from great prosperity, it was impossible to pre-
vent some disasters taking place. He congratulated
the country on the conclusion of the treaty to put
down the right of search. He alluded to the con-
tinuance of the present Cabinet in power, and re-
marked, that when lately a great party in England
had refrained from seizing on the chief power which
was placed at its disposal, the remembrance of 1840
had contributed in no small degree to
keep from the Ministry those statesmen who
reckoned amongst them a man whose glory
consisted in having braved France, and sought
to humiliate her.—M. BERRTER passed in review the
questions of Texas, La Plata, and Madagascar. He
complained of the wretched condition of Syria, and
thought that something ought to be known as to the
disposition of Morocco.—The Minister of Foreign
Affairs observed that a royal speech ought to be
chiefly marked by its simplicity. It was by no means
necessary that it should allude to all the questions that
might serve as food for discussion. No great fact,
however, had passed without having been touched on
in the speech ; for instance, the question of the treaty
to put down the right of search, and the events
that had occurred in Africa, had been mentioned.
France was interested in seeing independent states
spring up in America. A universal republic ought no
more to be permitted to be established in America,

than a universal monarchy in Europe. The Minister
of Finance defended the general policy of the Go-
♦ernment. He alluded to the late jobbing on the
Bourse, which some writers had urged as a crime
against the Cabinet, and reminded his hearers that
the severe enactments proposed by the Government
had not found favour with the Chambers. Every-
thing that the Government could do had been done ;
and what more, he would ask, could be demanded
from the Administration ? The Hon. Minister then
alluded to the state of the finances, and announced
that five millions at the most would constitute the de-
ficit that would remain after the settlement of the Bud-
get for 1844. If that did not constitute an absolute
equilibrium, it at least came very near it. The bud-
gets of 1845,1546, and 1847, would be settled even still
more advantageously. The Government congratulated
itself on having opposed the conversion of the Five
per Cents., Which, however, every one knew, it was
strongly in favour of; but the loan, and the execu-
tion of the railroads, had rendered such a step inop-
portune ; and he was decidedly of opinion that the
moment for undertaking that great operation had
not even yet arrived. He had, however, to announce
the intention of Government to introduce a uniform
tax on letters. He then touched on the various

questions of foreign policy, defending the conduc.

of the Ministry, and, in conclusion, alluded to the
letter of the Governor-General of Algeria, which, he
observed, had been disavowed by that officer. The
Cabinet could certainly consider the publication of

such a proceeding as somewhat irregular, but some

sacrifice of its susceptibilities ought to be made to
the interests of the country, and to the great services
of Marshal BUGEAUD.
In the Chamber of Deputies, on Saturday, Admiral
MAcKau presented a Bill demanding an extraordinary
credit of 93,000,000 f. for naval constructions and
supplies in the arsenals, and M. LACAVE-LAPLAGNE
the Finance Minister, presented the annual financial
statement—in other words, the Budget, which is thus

summed up :
" He commenced by declaring that two principal cir-
cumstances had arisen since the end of the last session
—one was the failure of certain articles of subsistence in
some of the countries of Europe, and the second the crisis
in the money market. With respect to the first, France,
he was rejoiced to say, had nothing to fear, the harvest
and the crops of the past year having been fully of
an average character. As to the seconded subject
alluded to, he bad to remind the Chamber that the
Government, foreseeing the possibility of an exagge-
rated ardour in the desire to carry out the great
railway system of France, had last session proposed cer-
tain preventive measures, which the Legislature had re-
fused to ageee to. The difficulties of the money-market
had clearly shown on what firm bases the public credit
was fixed. Great circumspection must, however, be
shown in not introducing at pfesent any measures likely
to throw additional difficulties in the way of the mone-
tary transactions of the country. It was for this reason
that he called to the recollection of the Chamber the
engagement entered into by the Government to pay
attention to the best means of effecting, as speedily
as possible, the conversion of the Five per Cents. He fully
bore in mind that engagement ; but he must declare that
he did not think the present moment opportune for such
a measure. He considered it likely to thoroughly dis-
turb that firmness which was now beginning to manifest
itself in the commercial and financial affairs of the king-
dom. He also alluded to the necessity of introducing a
new registry of lands and property, with a view to a
more equal division of taxation, and the propriety of
alleviating the postage of letters. The principal points
of the Hoe. Minister's statement may, therefore, be
briefly declared to be the non-conversion this year
of the Five per Cents., the introduction of a uni-
form tsx on letters, and a new assessment of taxes
throughout the kingdom. With respect to the finances
the results are the following:-1. There wi lbe
an increase in the receipts, as compared with 1846, of
34,186,546 f. 2. As to the extraordinary expenses, a
sum of 21,341,500 f. are to be carried to the budget of
receipts out of the produce of the loan ; and thirdly, the
demands of the Minister of Marine will be 8,303,000 f,
more than the sums voted in 1846. In conclusion, receipts,
1,337,870,680 f. ; expenditure, 1,332,717,0181. ;—excess
of receipts, 3,153,662 f. In conclusion, M. Laca►e La-
plague alluded to the execution of the network railways
now in progress, and declared that they should be urged
on with all the expedition that was reconci!eable with

solidity and safety."
The congratulatory addresses presented to his
MAJESTY on New Tear's-day contain little variety,

but it is gratifying to find that all of them refer in

strong terms to the blessings conferred on France
and the rest of Europe by the preservation of peace.
The words of the Por.z''s Nuncio, who represented

the whole diplomatic body, deserve to be quoted. " On
this solemn occasion," saidhe, " the diplomatic corps al-