The Sun.
London, England, 1848-01-20 00:00:00

THE SUN, LONDON, TE URSDAY EVEN ING,_ JANUARY 20, 1848.

other evening in recounting the massacre of the
Milanese by the soldiers of METTER/mu. Since that
first ebullition, since the blood of its citizens was
washed from the flagstones of the capital, since the
dead were carried to the charnel-house and the
wounded to the hospitals—the fever of the Lombards
has daily and even hourly increased. Military demonstra-
tions have failed to awe the community into obedience.
Threatening proclamations have been equally ineffec-
tual. And the reason of this is, that
ol in
ethte church
nohf
a
Liberty is ever ringing—not, as of ,
turrets, but in the hearts of Italy. Fresh
possessions,
are not only anticipated in the Austrian
gBtuhi na
na r
dy
9collision
appears to have taken p.
they have already transpliraecie
.
onAthsaen
between the garrison of Pavia and the students of the
University. Numbers are already crossing the fron-
tiers of Sardinia, and enrolling themselves in
the battalions of Turin. The more adventur-
ous among the Italian subjects of FERDINAND
are swelling the ranks of that patriotic army
which, under the banners of Ceamo ALBERTO will
(GoD willing !) achieve the independence of the
Peninsula. Circumstances are occurring, indeed,
every moment, in Milan and elsewhere throughout
Lombardy, such as tend to confirm the inhabitants
in their sentiments of devotion to the cause of their
social and political emancipation. Among the most
striking of these have been the voluntary disband-
ment of the Noble. Guard, instituted in 1833, on the
coronation of the reigning EMPEROR at Milan, and the
funeral rites performed with extraordinary solemnity
in the church of La Gran Madre de Dio, at Turin, by
way of commemoration for the unfortunate patriots
who have been recently sacrificed by the mercena-
ries of Venetian-Lombardy. The consequence of
these remarkable movements in northern Italy can
only be dimly conjectured from the sullen determi-
nation with whichithey have been accomplished. We
ntusctarry and watch—with how much solicitude it
were superfluous to declare. The tide, the turning-
point, the crisis in the affairs of the population of
Lombardy, has arrived. Whether the chains of the
KAISER can be effectually destroyed the strong
hands, and the brave hearts, and the resolute wills
of the people have yet to demonstrate. Before them
are the armaments of FERDINAND ready to bristle
over the top of the Carpathian mountains—at their
back, and side by side with them, are their
liberated brothers of the League. Let the
men of Venetian Lombardy fraternise in act and
thought with the Piedmontese, with the Lucchese,
with the Tuscans, with the Modenese, with the peo-
ple of Parma and its dependencies, with their brethren
in the states of the Church—let them remember that
beyond Savoy are the valiant confederates of Swit-
zerland, and that beyond Sardinia and beyond the
Belearic islands, and past the Straits of Gibraltar,
there is the most venerable of the European homes of
freedom— let them consider the integrity of
their motives and the eternal vitality of the
principles they have originated—and then gal-
lantly, hopefully, determinately—On wards ! One
reflection ought to be enough of itself to render their
progress irresistible, namely, that by geographical
position they are in the vanguard of Italian emanci-
pation, and that in maintaining their own rights they
are maintaining the aggregate rights of the whole of
the Roman peninsula. That thought should be the
Casarem vehi3, to carry them triumphantly through
the storms of the present epoch.
Elsewhere the work of Italian reform is proceeding
to admiration. Not only is the new ruler of Parma
evincing a diFposition to join the leaders of the League
in their struggle for the development of their
o common nationality, but !the hereditary Prince has
been nominated the commander-in-chief of the
troops of the principality in the place of the Austrian
BOMRELLES. At Rome the benefits ensured by the
recent reform in the Pontifical councils are already
beginning to he partially manifested. The cata-
logue of the new Ministers was given in detail
in our impression of yesterday evening, and is not
only satisfactory in as far as it still secures the
Presidency of Cardinal FERRETTI, but in the selection
of men so enterprizing as Cardinal Massrsio, and so
profound in learning as that proverb of erudition and
monster of languages, Cardinal MEZZOFANTI. Under
such aupices the great labours of advancement can-
not but be conducted to a felicitous consummation.

During the past week, in noticing an admirable
article contained in the Westminster Review, for the
present quarter, we alluded to the probable conse-
quences of an " appreciation " of the value of money
on the one hand, and a "depreciation" on the other,
and pointed out that practically they mean either in-
justice to " the few," or injustice to " the many."
That view of the subject had been fully recognised,
even before the passing of the fatal Act for the re •
sumption of cash payments, which has led to such
repeated fluctuations in the value of money, and
occasioned a greater degree of misery and distress
during a period of universal peace and tranquillity
than existed when we were subjected to the
horrors of war, and a greater amount of
money was annually expended in carrying
on hostilities, and subsidizing the greater portion of
the Continent of Europe, than has recently been paid
for the bread-stuffs imported into the country since
the first appearance of the mysterious visitation that
destroyed the only food of a large portion of the
inhabitants of the British Isles. The Right Hon.
WILLIAM HusiossoN, in speaking of the effects pro-
duced on the industrious classes by such an apprecia-
tion or depreciation, said—" When prices are con-
tinually rising, all the active classes are benefited,
and annuitants alone are placed in a worse position ;
but it is better that any loss should fall on them than
on the productive classes, the effect of a rise in price
on them would, perhaps, force them to greater eco-
nomy, and at most abridge their comforts—but while
they are reduced to this, other classes are benefited.
But the effect of a falling market on the industry of
a country is very different. If the value of a man's
stock were only reduced one-tenth, perhaps that one-
tenth might amount to the whole of his own capital—
the nine-tenths might be borrowed. The fall natu-
rally alarms the creditor, who, by urging his demand,
forces sales, by which the difficulty is increased. In
such a state of things it is impossible that the revenue,
depending as it does so much on the active classes,
should not fail." Such was the opinion of one of the
most remarkable men of modern days, the statesman
who introduced to Parliament the free-trade doctrines
originally propounded by ADAM SMITH, and which
have at length been recognised, except in the most
important point of all—the circulation of the country
—by the great majority of the Legislature.
The question, then, is one of the most vital
importance to every one anxious to earn his livelihood
by his own exertions, and actuated by a laudable
ambition to improve his own position in so-
ciety, to give his children advantages which
he did not himself possess, and to en
able them to take their stations among the
magnates of the land. In earlier days it was the
policy of the nation to encourage such transitions.
The son of the tradesman became the merchant or
manufacturer, and his offspring were ranked among
the landed proprietors and aristocracy of the kingdom.
We were then as the mightiest general of modern times,
in derision styled us "a nation of shopkeepers;" but it
was
the
power derived from our commerce, and the
active energy of our people, which enabled us to arrest
his progress,
to oppose his arms, and finally to over-
come and hurl from his exalted station the conqueror
of Continental
Europe. Had we then desired to pre-
serve "the integrity the
standard" at any cost, and
to sacrifice at its shrine the
so readily offered up—the liberties—asaPP.a we have since
and prosperity
of the people, a descendant relativeorls' of NAPOLEON
would, in all human probability,
still occupy the
thrones of France and Italy, and the B uonaparte dy-
nasty would be recognized in Spain, Holland, Naples,
and Westphalia. But we were not then sobigoted to ab-
stract principles. Gold was not so slavishly worshipped.
It was not elevated to the despotism that it has since
assumed. In place of being a tyrannical master, it
was a most useful servant. By means of an incon-
vertible currency we were enabled to make those
gigantic exertions which terminated in the triumph
of the British arms. Had we then insisted that
nothing but specie, or the larger denomination of
notes (and those based upon bullion lying uselessly
piled up in coffers of the Bank), should be permitted
to circulate, we should have humbled ourselves before
and yielded an ch
be • o ence to the dictates of
France. Lord AsnatiaTori (no mean authority
ou such subjects) has told us in his

evidence before the Committee on Agriculture,
in 1836, that " but for the Bank restriction
the war must have come to an end, that we should
have been forced to make peace in 1797." And he
also stated, " that we could not otherwise have carried
it on upon the same scale, or anything like the same
scale of expenditure or exertion." Need we say how
utterly useless an attempt at resistance would have
been if conducted with inferior:energy, or by a smaller
body of troops ? It was the unflinching determination
which we manifested on that occasion that alone en-
abled us to maintain the contest ; the slightest relax-
ation must have been followed by a defeat, and
Britain might now be known as a French province,
or, perhaps, dignified witk the title of " Insular
France." Why, then, should we deliberately relin-
quish in times of peace those doctrines and principles
which were proved to be BO efficacious in more trying
periods P Is it that national prosperity and
universal industry are to be averted ? Is it that
the wealthier classes, from whom our legislators are
chiefly selected, desire to maintain the exclusiveness
of their position, and to prevent any intrusion on
their ranks? If such be their object they have cer-
tainly succeeded, for there is now but little prospect
of any person acquiring wealth by trade or com-
merce, and the most unremitting industry will
scarcely enable those who have no hereditary fortunes
or accumulated capital to do more. than provide for
the daily wants of their &taiga ; and it will be
utterly useless to attempt to put anything by for a
rainy day, or to form the nucleusrof- a future fortune.
General HARRtiON, formerly President of the
United States, well"*expo-ser this consequence of a
metallic currency upon the condition-and character of
a nation. In his inaugural address as President,
in 1840, he said, " The idea of making
it (the currency) exclusively metallic, however well
intended, appears to me to be fraught with more fatal
consequences than any other scheme (having no re-
lation to the rights of citizens) that has ever been
devised. If any single scheme could produce the
effect of arresting at once that mutation of condition
by which thousands of our fellow-citizens, by their
industry.and enterprize, are raised to the possession
of wealth, that is one. If there is one measure better
calculated than another to produce that state of things
so much deprecated by all true republicans, by which
the rich are daily adding to their hoards, and the
poor sinking into penury, it is an exclusively me-
tallic currency—or, if there is a process by which the
character of the country for generosity, and nobleness,
and feeling, may be destroyed by the great increase
and necessary toleration of usury, it is an exclusive
metallic currency." Are these remarks only appli-
cable to our transatlantic brethren P Do they not
apply with equal force to ourselves, and to our
mixed currency of bullion, and notes convertible on
demand, the issue of which his wholly regu-
lated by the amount of bullion in the Bank cellars,
and which no possible combination of circumstances
can alter or vary without a violation of the law ? Let
our Legislators maturely consider these observations,
and let the several constituencies insist upon their
representatives directing their immediate attention to
this momentous question.

The new Duke of PARMA, the Duke of MoDENA,
and the Emperor of AUSTRIA, have signed a treaty of
alliance, offensive and defensive, as well as a customs
league, intended to counterbalance the Italian league.
Treviso is in full insurrection, and Bergamo and
Brescia greatly agitated.

Pontremoli was surrendered to the Duke of MO-
DENA on the 3d inst.
Considerable dissatisfaction has been excited in
Rome, in consequence of the total exclusiou of lay-
men from the new Cabinet, and the first act of the
Ministry has tended rather to aggravate than to allay
it. They have published a circular, signed by Cardi-
nal FERUETTI, establishing a more rigorous censorship
of the press than had before existed, and reserving to
the Bishops alone the right of exercising the censor-
ship on works of morality and religion.
The Prussian State Gazette has the following :
"The Emperor of Austria has made known in an
autograph letter that the present state of the Lombar-
do-Venetian kingdom might be considered as revolu-
tionary, and that consequently the authorities were
ordered to take the necessary measures for the re-
establishment of tranquillity and public order in the
country."

Madrid journals of the 13th have arrived.
On that day General NARYAEZ presented to the
Congress a Bill authorising the Government to re-
ceive the taxes, and intimated that he should con-
sider the rejection of it as tantamount to a vote of
want of confidence, and in such case should retire.
General ESPARTERO, on the 13th, appeared in the
Senate, and took the oaths and his seat. There was
a crowded attendance, and the appearance of ESPAR.•
TERO was the signal for the most enthusiastic cheer-
ing. When the sitting was over, NARYARZ went up
to him, greeted him cordially, and remained convers-
ing with him for some time. The streets were
crowded ; there were no shouts, but every one present
took off his hat, and saluted ESPART&RO as he passed.
MADRID BOLA, JAN. 13.—Threes, 26i 27 ; Fives,
15i. Exchange on London, 48 20.

We have received the Paris papers of Wednesday.

The Journal des DebaU announces that the KING
will on Thurday receive the grand deputation of the
Peers appointed to present to his MAJESTY the Ad-
dress in answer to the Speech from the Throne.
The Address, as we announced yesterday, was
agreed to by the Chamber, but not without a divi-
sion. The numbers were—for the Address, 144 ;
against it, 23. In the course of the discussion,
N.I. DUCHATEL, the Minister of the Interior, made a
declaration on the part of the Government of its de-
termined opposition to all electoral reform, and that
not only for the present, but for the future also—in
short no reform measure can be carried so long as the
present Ministry shall remain in office. This decla-
ration was received with murmurs of disapprobation
even in the Chamber of Peers. The Guizot Ministry
is throwing off all disguises, and appearing in
its true character, a parti-pretre Government,
a Villele Ministry without the Villele financial talent.
As a proof we may mention the fulsome eulogiums
lavished by the Journal des Debats on the Count DE
MONTALEMBERT, the acknowledged leader of the
Jesuit party lu Frauee.

The debate on the Address in the Chamber of
Deputies was to have commenced yesterday. MM.
BERTILLE, DARBLAY, DESMOUSEAUX DB GIRRE, and
Ducos, have inscribed their names to speak against
the Address generally, and M. DUTERGIER nn
HAIIRANNA to speak against the paragraph relating
to the Reform banquets.
The Constitutionnel says that on Monday M.
Durex laid on the table of the Chamber of Deputies
the following proposition :
" Article proposed to be substituted for the 178th
article of the Criminal Code on the Corruption of
Public Functionaries.

" Every public functionary who shall be Convicted
of having trafficked with his place in asking for ,or ac-
cepting gifts or promises for the purpose of inducing
him to tender his resignation, shall be condemned,—
first, to civil degradation ; secondly, to a fine double
the amount of the price received, or equal to the
price stipulated for, where such price shall not%a►e
been paid ; and, thirdly, to an imprisonment of not
less than three months, nor more than five years.
The same punishments shall be inflicted on all persons
who shall knowingly have taken part in such nego-
tiation, whether on their own account, or as agents
on the account of others.

M. LEGRAND, who has accepted the office of Vice-
President of the Board of Commerce, has been re-
elected Deputy of Mortain by a majority of 215.
M. BILLAULT has given notice of the following
amendment, which he intends to propose to the
fourth paragraph of the Address :—" We join
in your MAJESTY'S prayer, but at the same
time ask, above all things, of your Government
to unceasingly endeavour to develop the morality of
the people, and no longer expose itself to be. weakened
by fatal examples." M. DE BUSSIERES is appointed
Ambassador to Naples, and M. DE RAYNEVAL, at
present the French Charg6 d'Affaires in Russia, will
be appointed Ambassador to Greece. The Marquis
of DALMATIA will not go to Russia.
In reply to a question from Count D'ALTON SREE in
the Chamber of Peers, M. DucuA.Tur.. said, that he
had ordered the Prefect of Police, to prevent the
holding of the Reform banquet intended to hay°

in Paris, on Wednesday, under a police-
Teen held
law of
.1790.
•ntemplated political meetings. It con-
" That law," argues the Constitutionne4; "by
urnal assemblies in streets, markets,
nteommp
uets (says the same journal) rests
&c. The right to
fairs,leaattnhesedatcnrGocest:
,cafes,
churches,
of 183] and 1834, which apply
to periodical meetingi' and societies, leaving un-
touched clearly lyelecotnortahlebalanwq's
accidental meetings for defined purposes."
The Siècle says, ii.Thk; counter. revolution has
thrown off the mask ; the policy of the Government
enters upon a .new phase of resistance to the moa
legitimate wishes of the country. Yesterday the
Minister said 'No Reform;' to day, he says 'No
more manifestations, save according to my good will
and pleasure;' such declaration ought to make bound
with delight the passions ennemies so imprudently
pointed at, for it gives their acknowledged force a
new action upon the public mind. How much must
they feel afflicted who, like us, had hoped that
France' would at length find repose and liberty
in the fah' exercise of her constitution ?" Haying
shown that the law of 1790 _ is inapplicable,
this journal proceeds :-" The question must be dis-
cussed in another place : it will be brought before the
tribunals. We are exercising rights that belong to
us, and which do not depend on your toleration.
But it cannot be concealed that the Ministry has
fatally rushed Into the road of provocations. One
would be inclined to say that it felt itself in the
alternative of either compromising the Chambers and
the Throne, or of falling by its own misdeeds, ac-
cording. to 111. DE BOISSY'S expression, into the
prisoner's dock. There are decisive movements in
the history of all nations when truth flashes into the
darkest intrigues. We are in one of these mo-
ments, and the country ought to take warning."
PARIS BOURSE, WEDNESDAY, JAN. 19.-A con-
siderable degree of gloom still continues to hang over
the Bourse, the general opinion being, that notwith-
standing the contradiction given to the unfavourable
reports of his MAJESTY'S health, it is in anything but
a satisfactory state. Threes opened at about the
closing prices of yesterday, and, after for a short time
making a slight movement upwards, again gave way
to close at 73f. 400. Fives have also closed lower than
yesterday ; after having been done at 115 f. 80c., they
left off heavy at 115 f. 50c. New Loan was last called
at 74f. 50c. The market closed as follows :-Three
per Cents. for cash, 73f. 45c. ; for account, 73f. 40c. ;
Five per Cents. for cash, 115 f. 45c. ; for account,
115 f. 50c.; New Loan, 741. 75c.; for ac-
count, 74f. 50c. ; Bank of France shares, 3,180 f.;
Neapolitan, ex div., 99f. 25c.; Spanish Threes, not
quoted ; Fives, 251.
RAILWAYS.-The Share Market has been heavy,
but prices have not generally undergone any consi-
able alteration. For cash, Paris and Orleans closed
at 1,1771. 50c. ; Paris and Rouen, 885 f. ; Rouen and
Havre, 432 f. 50c.; Avignon, 5521. 50c. ; Vierzon,
500 f. ; Strasburg and Bale, 160 f. ; Nantes, 377 f. 50c.;
Northern, 6211. 25c.; Paris and Strasburg, 4011. 25c. ;
Paris and Lyons, 3901.; Montereaux, 257 f. 60c.
BUSINESS' DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, JAW. 19.
Northern of France, DA ex int.-Orleans and Bour-
deanx, 5-Paris and Lyons, "isi -Sambre and Meuse, 7q.

CAPE OF GOOD HOPE.
FROM OUR CORRESPONDENT.)

By the arrival of the Glen Huntly, from the Cape
of Good Hope, we learn that Colonel Somerset, with
a detachment of troops, had made a forced march
against the chief Pato, and defeated him with con-
siderable loss. Sandilla is a prisoner in Graham's
Town, where Umkie, a neutral, bad also arrived.
Macomo has taken refuge in Port Elizabeth. The
two latter are now our friends, living on our bounty.
The Lieutenant-Governor, Sir Henry Young,
quitted Graham's Town on the 3d November, to
return to England, there being no easier method of
getting to Adelaide from the Cape. He had received
a valedictory address from the inhabitants of Gra-
ham's Town, and it appears by the paper before us
that no public officer in the discharge of official duties
ever pursued a more steady and direct course, or
displayed more tact, zeal, and ability than this officer,
He now takes his departure from this province with
the best wishes and high respect of the inhabitants

at large.
Her Majesty's ship Athol left Algoa Bay for the
Mauritius and Ceylon, with troops, on the 28th of
October.

determined t o push on and carry out to the letter the
instruction roe,eived by him from the Commander of
the Forces.
It is affirmed' that immense droves of cattle are
shelteredfrom
mthe en
sienteh e broken country, at no great distance
of
this encounter ; and it is supposed
that it was to covet ' these that this attempt to arrest
the march of the trook7s was determined on.
SATURDAY.—To-day Sandilla's two councillors,
Vena and Hlahla, arrived in Graham's Town, having
been sent for, at the especial request of the chief;
made to Mr. Commissim ier Calderwood. The former
of these men bears the character of being one of the
shrewdest Kafirs on the border, and also better dis-
posed than the great majority of his countrymen.
The Zuid Afrikaan reports the following
raved in Simon's Bay, Nov. 10, Hon. Company's
I Mail Steamer Progresso, Lieutenant Romeiro, from
Mozambique' October 19, to Simon's Bay, with
stores saved from the wreck of her Majesty's sloop
Snake, stranded within a few miles of Mozambique.
Passengers--Dr. Maranda, Portuguese army ; Lieut.
Webber; and forty-two officers and men of her
Majesty's sloop Soake. The remainder of the crew
have been conveyed to the Mauritius in a French
ship."

CHANCERY.—(THIS DAY.)
The Lord Chancellor s.lt to-day at eleven o'clock,
and proceeded with the hearing of appeal motions.
•LCfERATT V. THE NORTH STAFFORDSHIRE RAILWAY

COAMANY.
This case came before the Court upon an appeal
motion from the decision of the Vice-Chancellor
Wigram, setting aside an award, on the ground that
the umpire had not made it within the six months
required by the Land Clauses Consolidation Act.
The case appeared likely to occupy the whole day,
and had not concluded when we want to press.

MONEY and COMMERCIAL NEWS.

CITY, QUARTER TO THREE.

The Cotton Market at Liverpool yestorday was
steady. Sales 4,000 bales. Railway Shares 'were quiet,
but there was very little doing.

Messrs. ',almond and Co.'s sale was well attended yes-
terday, and a fair amount of business done at ebout the
former quotations. The following are a few, of the
prices:—
East Indian, Reg
Ambergate, Nottingham, and Boston 0 8 0
Reading, Guildford, and Reigate 7 12 6
Great Luxembourg
South Yorkshire, Doncaster, and Goole 1 2 0
• Eastern Counties
Shrewsbury and Birmingham (A)... ...... 3 15 6
North Staffordshire
Paris and Lyons
Boulogne and Amiens ... 13 10 0
Manchester and Southampton........ 0 7 0
Great Northern ... 4 10 0

The condition of the Paris Money-market still ex-
cites attention here, and certainly appearances are very
unfavourable. It is recollected, however, that last year
when matters looked so gloomy here, the French funds
did not fall in proportion to the English, nor was there
any commercial panic. It may be that the reverse case
is now to be shown.

Accounts from Pforzheim, Grand Duchy of Baden,
state that several manufactories of gold and silver
articles bad been placed in difficulties by the failure of
Von Haber and Co.

An arrival from the Cape of Good Hope furnishes ad-
vices of Nov. 9 from Graham's Town. There had been
an encounter between our troops and the Kafirs, in
which the latter, 1,000 strong, appear to have been
signally worsted. At Natal affairs were not altogether
in a satisfactory position.
There has been an improving market for the Public
Securities, and Consols, owing to the scarcity of Stock,
have rallied from 871 to 871 1, There appears to be
no " continuation " or rate of interest to February.
Exchequer-bills are 245. to 275. premium, and India
Bonds 14s. premium. Bank Stock is worth 196} to
1981, and India Stock 237. The New Three-and-a-
Quarter per Cents. are 881- to 881.
Rather more business has been done in the Foreign
market. Spanish Five per Cents. have been 19k; Por-
tuguese Four per Cents., 251; and Brazilian New, 76.
Mexican Stock is dull at 18, and Grenada at 191 4.
Dutch Two-and-a-Half per Cents have been 531 to 541.
Railway Shares are looking up in some instanter,
although the business doing is so limited. North Staf-
ford, Brighton, and other of the old lines have improved.

ONE CLOSING
PRICES OF BRITISH FUNDS. O'CLOCK. PRICES
Bank Stock 198 1961/2 1981/2 1981/2
3 per Cent. Reduced Anns.. ...... 87%3(y % 87%
3 per Cent. Consols Annuities...... 871/2 % % % 87 A i
New 31 per Cent. Anus
Long Anns. to expire Jan. 1860
Ditto 30 years, Jan. 5, 1860 B% 9-16 8 9-16
India Stock 237 237
India Bonds, 1,0001.

Ditto under 1,0001.. ..... 14 p
South Sea Stock
Consols for Account ... 871A% N

Exchequer Bills. td:
1,0001.
500/.
Small

ONE
O'CLOCK.

14 p
96

87%

24 p
24 p
27 p

I'RICES OF FOREIGN FUNDS.
Brazilian Bonds
Do., New, 1843 ..........
Buenos Ayres Bonds, 6 per Cent 3O
Chilian Bonds 6 per Cent.... •
Ditto 3 Der Cent — 51
Grenada Bonds, 1 per Cent.
Ditto, Deferred 4%
Mexican, 5 per Cent. 1846 lB 18
Peruvian Bonds, 6 per Cents 39% 39 38%
Portuguese 5 per Cents.
Ditto, 4 per Cent 25%
25%
Russian Bonds ... ...... .•
Spanish 5 per Cent. 1840.
18
Ditto, Account 1914
Ditto. 3 per Cent 29
Dividends on the above payable in London.
Dutch, 2% per Cent., 12 Guild 53% % 54
Ditto. Account
Ditto. 4 per Cent. Certificates 85
PRICES OF PAID. BUSINESS DONE crosrxG
RAILWAY SHARES. AT ONI O'CLOCK. PRICES.

CLOSING
PRICES.
83
76

53
544
85

Aberdeen 45 ......
Amber., Lott., Boston,
and Eastern Junction 2%......
Ayrshire and Galloway.. 21/2
Belfast & County Down 10 ...... .
Birmingham and Ox-
ford Junction .... ... 20
Birmingham, Wolver-
hampton, and Dudley 10 ..... ... —
Birming.,VVolverh'pton,
and Stour Valley 101. 145...
Birkenhead, Lancashire,
and Cheshire June.... 73/4
Boston, Stamfd & Birm. 5
Bristol and Exeter BO
Ditto, Thirds 2O
Buckinghamshire... 10/. 43. ... .. 21A dis.. 2A dis
Caledonian
Ditto, Half Shares .. 3%...... ...
Ditto,Clydesdale June 50
Chester and Holyhead... 371 A...... 19% •••
Ditto, Preference l2 ...... 11%
Clarence

Do. Ist Class, 6 per Ct. 10 -

Do. 2d Class, 5 per Ct. 10 - ...
Do. Government Loan,
4 per Cent. ........ 10
Dublin and Belfast June. 25
Dundalk & Enniskillen 17% —

East Anglia, 25/., L. &
E. and L. and D...... 25 —
Do., 181., E. & 18
Do., 3/. 10s., E. &IL 2

19%

7%
114,
15%

...... 16 ii i i 153 i

Eastern Counties........ 20
Ditto (B)
Ditto, Extension, 5 per
Cent., No. h..... 6/. 13s. 4d.... par .........
Ditto ditto, No. 2...61. 13s. 4d...
Do., York Extension lO ......
Do., North. & Eastern 50
Do., Quarters ...... 121/2 ......
Do., New ............... 23 •
U • . 50

52

Eastern anion ..
Ditto, Quarter Shares 12%...... ......••.•
Ditto, Thirds-- ...133.4d• . ....
Do. (guar. 6 per cent.) 10
East Lancashire
Ditto, New ......... ... 13 ...... 914 ex int
Ditto, New Quarters 33a.•••••
East Lincolnshire ...... 121/2
Edinburgh and Glasgow‘so ......
Ditto, Half Shares ... 15 .. ..
Ditto, Quarter Shares 12%......
_,Edinburgh and Northern 22%
Ditto, New.. 3:-14 — .........
Ditto, Newport
Ditto,
_ditto, New 214. .... ......•••......
Exeter,Yeovil, & Dorch 2%
Ditto, New ... 23 —
Glasgow, Dumfries, and
Carlisle ....... ••• 8/. 6s. Bd. -—
Glasgow,Kilinar., & Ayr 50 -.
....... .. ......
Ditto, New ... ...... ... 40
Do.Preterence Consul. 12 -A --
....... . ...
1/. 4%1
Great Northern _.lo
Do., London and York 2% - ••• '.. 4%
fireat South. and West. 7s
(Ireland)
25 ex in
Great North of England.loo ....
„
Ditto, New 40/ ... 5
Ditto, New 30/.
•

Great Western
103
Ditto, 1h Shares 5O
Ditto, 14 Shares
Ditto, Fifths
Ditto, New 171.
Huddersfield and Manch. 24
Ditto, Thirds
Hull and Selby ........50 ......
Ditto, Half Shares ... 25 ......
Ditto, 1% Shares
Ipswich & Bury St. Edm 17%...••• 8%
Do., do., and Norwich 15 ......
Do., do, Extens. Scrip
(late Lamb. & Ely) 21A ...... 13/4 ex hit...-. 13/4 xin
Lancaster and Carlisle... 50 ...... 55
Ditto, Thirds ......... 10 ......
Lancashire & Yorkshire 93 .....
Ditto, ditt0'............ 82
Ditto, % Shares ...... 38 ... ..
Do. Quarter Shares... 14% —
Do. Fifth 5.........
Do. Sixteenths ....... .. 64 _
Do. Thirds (8eg.)...1 -0/.45......
Do. Liverp. and Bury .38 ...... ...
Ditto % (late Hud-
dersfield and Shelt) 33
Do.(Wakefield,Ponte-
fract, and G001e).... 47%

1912

10%

8%

7

7%

Do. ( Vi. Riding U Ilions)4/:g... ...

Do. (Preston (C Wyre) 25 .
Do. % Shares (A)... 9 ..............
Ditto ditto (B) ... 114 _ . .............
Leeds and Bradford 5O ...... ...............
Leicester and Bedford l6s.
...............
Leeds, Dewsbury, &c... 421/2.
..........
Do. Branch 1/2 Shares 121/2.,
Do.Newßranch (blue) DA__
Do. Extension (green) 21/2
Do. NewExten.(pink) 21/2 ......
Leeds and Thirsk
Ditto, New ..... ....... 22.4 —
Do., Prefer., 6 per Ct. 3%
Liverpool, Crosby and
Southport . 2
Liverp., Alnchstr &New-
castle Junction 21,4
London &Blackwall.l6/. 13s. 4d.... 513/4 %7 5%
Do. New, No. 2 ... 4/. 13s. 4d.... 1% _dis. l% ells
Do. Extension ... 171/2
London, Brighton, and
South Coast
Do. Consol. Eighths. 30
.... .... . .

121/2

44%

Do. Guarant. 5 per ct.., 9 .....•
Do. Pref. Con. 5 Of, ct. 50 .. ... •• • ..• —
Ditto, ditt0...... 1852 50 ......
London and Greenwich 1211534 d... ••••••
Ditto, ltreference... 18/ 173 2d...
London and N. Western 100 l5l 1521,i 153... 153
Do., Quarters L. & B. 22 —
Do., do., New
Ditto Fifths .........2
Do. 14 Shares (G. J.) 25
Do 40/. Shares(L. M.) 15
.

Do. 40/. (M. & 13.) .. 40
Do. 10/. (M. & 1,3.) A. —

Do. 101. M. & B.) B. 7
Do. 10/. (a. & B.) C. 1
Lonit. & &Western ...411. 6s. 8d.... 551/2 541/2
i ,c. Ntrtv Consol. stbs 40
Du. New 50/. ... ..... 321/2..
Du. New 40, 26
Do. Tenths (Consol.) 50
Ditto ditto ...
1)4%1144 ...... me 4 6§t Nett! ON ro ..... et rem P""

London, Salisbury, aad
Yeovil ..... 0...
Londonderry&Culera'ne 27% ........
Londonderry and Evnis-
killen .....
MandLeiter,Buston,ansl
Matlock

Min Chester, Sheffield,
and Lincolnshire ...100 - ••• . .....
Do. Quarters (No. 1) 13
Ditto ditto (No. 2)... 25
Ditto ditto (No. 3)... 7% —
__ . ..6

Ditto and Grimsby.... 25 —
Ditto ditto . ......... 7
Ditto ditto
Ditto Sheffield and
___

Lincolnshire 7%... •. - •• • ••• 000000000 ems
Alanchest. & Sonthampt 2IA ......
14 ildant lOO 114
Do. Consolidated Pref.loo — -
Do. 40/. Shares
Do. 501. Shares
Do. Birm., and Derbyloo
Midland Consol. Brist. &
Birming., 6 per ct. —.lOO ......123 12314 ...... ••• 123
Midlnd, Brist. &Glocstr. 36 ..
Ditto, ditto ll/. 3s. 6d... ...,,,,........ ....

Midlnd,Leicest.& Swan-
nington, 8 per ct.guar.loo
Midland Great Western
35
Newcastle and Carlisle...loo
Do. Quarters 2s— ••••.-

• 1
imo •

Newmrk et & Chesterforel 181,1 —
Do. Extension . ..... ...2/. 125....
Newport, Abergavenny,
and Hereford 6 11.141••• ..... ....
Newry and Enniskillen 7
Newry, Warrenpoint,
and Rostrevor .. 124 —
__ .. ....

Norfolk .., lO- -.
Do. New 20/. ... 5
Do. Extension
Do. Scrip, 1847, North
of Norf01k...
Do. do. Waveney Val. 2
Northern Counties Union 4 —
North British ........ ... 25
Do. Half Shares! 12%......
Do. Quarters 44:1 — ....
Do. Extension
Dittn Thirds 2
Nort)' Staffordshire lO ..-.. 101A1A3i.. ...... 104
North Wales
North Western G - ..... •••• ..... A mil
' )xford, Worcester, and
Wolverhamptea
Reading, Guildford, and
Reigate
Royston and llitehin ... 1% — ... ........ .. - -

IRO 41,
16%

Scottish Central
20 .....
Scottish Midland 2O — . .... .... .
Ditto, New......... ..... 10 - ........ ••• •• •••• •
Sheffield, Rotherham,
and Goole . - 5 — . ... -
Shrewsbury and Birm... 7
Ditto ditto, Class B. 4
Shrewsbury & Chester
(Nor. W. Min.)
Ditto Halves ... ditto 8 ...... .. ...
Ditto Oswestry ... .. 12 -
Ditto New
Do. 8 per Cent. Pref 5 - ••• ........ ... r..
Shrewsbury and llerefd. 2
Shropshire Union
South Devon 4O ...... .. ......
Do. Preference

. .
South Staffordshire
South Eastern & Dover. 331/B 311/2 31 ......... .31.14
Do., No. I 24
Do., Nc. 2.
Do., No. 3 .. ..... ...... 20
Do., No. 4
South Wales ... .. 18 -

South Yorkshire, Don-
caster, and Goole
Swans. & Loughor & Ca-
meron's Stm. C0a1.... 4
Taw Vale Extension ... 4
Thames Haven Dock
and Railway
Vale of ...... 4

..... --
Waterford and Kilkenny 131/2 ............
Waterford and Limerick 40

W aterfd,W2(frd,Wi cklw,
and Dublin
West Cornwall
11'hitehaven & Furness 12
Windsor, Staines, and
South Western........ 525. —

Wilts, Somerse'c,& Wey-
mouth
York, Newcastle, and
Berwick. .... .. ......... 25 ..... 34% :34%
Do. Original New and
Berwick ........ ...... 25
Do.NortlyShieldsPur. 25
Do. Extension No. 1. 15
Do. do. No. 2. ... 10 - 22%
1)o. G.N E.Preference 8
York and North Midland. 50
Ditto, Preference ...... 10
Do. East and West Rid-
ing Extension
.35g
FOREIGN RAILWAYS.
Boulogne and Amiens... 20
Central of Franco (Or-
leans and Vierzon) ... 14
Central of Spain .. 2 ••• ..... ...•••
Ceylon
Demerara
.a..•
Dendre Valley
Direct Bombay and
Madras
Dutch Rhenish ......... 7 ... .. 2%.
East Indian ... 1 I
.4 - ......... ... . .
Great Indian Peninsular ss.
Italian and Austrian. ... 4
Jamaica S. Mid. Junction 1 --

Louvain Ila Sambre ... 6
Luxembourg...
Lyons and Avignon..... 5
Madrid and Valentia... 2
Namur and Liege l6 . .. 8%% ... 64
Northern of France
Orleans and Burdeaux 6 ......
Over Yssel 413 s 4d......
Paris and Lyons lO ..... 5% 5 tAi
Paris and Orleans ...... 20
Paris and Rouen ... ..... 20
Paris and Strasbourg ... 8
Rouen and Havre
Sambre and Meuse l3 ••• .. 6% 7% 74
Strasbourg and Basle ... 14 ••••••
Tours and Nantes 8
Tournay, Jurbise, Lan-
den' and Hasselt ...... 16
West Flanders.-- ...... 81/2 ..... -
JOINT STOCK BANKS.
London & Westminster. 20 . 2492 24
MINES.
Anglo-Mexican lOO -• -•
Brazilian Cocaes& Cuiba 30 ......
British Iron
Bolonos Scrip ...... ....
Galvanized Iron ...... .. 10
Ditto, New
Real Del Monte, Unreg.

LLOYD'S SHIPPING—(THIS DAY.)
LONDON, JAN. 20.—Wind N.E., moderate breeze, and
dull frosty weather.

OFF MIRGATE, JAN. 18.--Mary Queen of Scots, Wi(•
cox, Brazils.

DEAL, JAN. 19.—Wind E. to S.E.—Arrd. from the
river and sld. Ceres, St. Thomas. Sld. Rimingham,
Callao ; Lisbon, New Orleans ; Mountaineer, Mobile.
Put back Vigilant, for Valparaiso; Candidate, Barba-
does ; and both sailed again 19th.
PORTSMOUTH, JAN. 19.—Wind N.E. to S.S.E., fresh.
51d. Himalaya, Hobart Town.
LIVERPOOL, JAN. 19.—Wind E.S.E.--Acrd. Woodside,
Higgins, New Orleans ; Isaac Newton, Bush, Mobile
Rival, Passmore, Nassau. Sid. Princess Royal, Cal-
cutta ; Majestic, Africa; Foam, Sierra Leone; Secret,
Lima ; Navigator, Monte Video ; Amoy, New Orleans;
Olinda, Charleston.

WATERFORD, JAN. 18. Wind W.S.W. to N.W.
—Arrd. Dealy, Dee, St. John's, New Brunswick, for
Bantry.

RAMSGATE, JAN. 19. The Dispatch, Newport to
Perth, went on the Goodwin Sands last night, and was
abandoned, but was brought in here this morning by
some boatmen leaky; crew safe.
STRANRA.ER,. JAN. 18.—One of the Dublin and Glas-
gow steamers, from the latter port, has put into Lo.ch-
ryan on fire, which is said to be confined to the cabin.
COWES, JA.x. 19.—Wind N.E.—Sld. Emulous, Bar-
badoes.

OFF FALMOUTH, JAN. 18.—Herundo, St. John's, Now
Brunswick, for Hull.

,
DUBLIN, JAN. 18.—Wind N.W.—Arrd. 17, Coolaok,
Donnell, St. John's, New Brunswick.

CORK, JAN. 17.—Wind N.W.—Arrcl. Mary Marsden,
Carter, St. Domingo, leaky.
GRANGEMOUTH, JAN. 16.—Arrd. William, Quebec;
Retreat, Allan, S. John's, New Brunswick.

MARKET NEWS.—(THIS DAY.)
NEWGATE AND LEALDENZIAZas.
Full average supplies of Meat were on sale to-day.
Generally speaking, the demand was inactice at our
quotations. Beef, from 3s 2d to 4s ad; Mutton, 3s 4d
to 45.4 d; Veal, 4s 2d to ss; and Pork, 3s 8d to 5s per
albs by the carcase. _ _

MEAT MARKETS.
SOUTIIALL, JAN. 19.—We bad rather a slow trade
this morning, but prices were supported. Beef from 3s
6d to 4s 8d; Mutton, 3s 8d to ss; Veal, 4s to 4s 8d;
and Pork, 4s to 4s 8d per 81bs, to sink the offal.
ROMFOHD, JAN. 19.—Although the supplies of stock
were not large the trade was in a sluggish state.
Beef from 3s 6d to 4s 8d; Mutton, 388 d to 58 2d; Veal,
4s to 4s 8d ; and Pork, 4s 2d to 4s ed per 81bs ;
Quarter-old Store Pigs, 20s to 24s each.
HAILSHAM, JAN. 19.—Prime Beasts sold at full
prices. Otherwise the demand was in a sluggish state.
Beef, from 38 8d to 4s 8d; Mutton, 4s to 58 2d; Veal,
4s 4d to 4s 6d; and Pork, 4s to 4s 6d per 81bs.
ARUNDEL, JAN. 18.—Beef, from 35 10d to 4s 8d; Mut-
ton 4s to ss; Veal, 4s 4d to 43 6d; and Pork, 4s 2d to
4s 6d per 81bs. A moderate supply, and a slow trade.
CHICHESTER, JAN. 19.—We had only a moderate
demand here this morning, at the following terms,—
Beef, from 3s 6d to 4s 8d; Mutton, 3s 10d to 55 2d;
Veal, 4s I.IJo 4s 6d; and Pork, 4s 2d to 48 6d, per
Blbs. Quarter-old Store Pigs, 18s to 23s each.
HAY MARKETS.
SbIITHFIELD.—Meadow Hay, 21 lOs to 3/ 13s ; Clover,
ditto, 31 lOs to 41 15s ; and Straw, 1/ 4s to 11 10a
per load. A moderate supply, and a steady demand.
CUMBERLAND.—Meadow Hay, 2/ lOs to 81 158 ;
Clover ditto, 31 lOs to 4l 12s; and Straw, 1145 to 11 les
per load. Supply rather limited, and trade firm.'
WHITECHAPDL.—Meadow Hay, 2110 s to 31 149;
Clover ditto, 31 lOs to 4/ 16s ; and Straw, 1/ 4s to
11 105 per load. Trade dull, at the above quotations.

CORN AVERAGES.
GENE AL AVERAGE PRICES OF I3RITISII CORN
For the Week ended Jan. tO, 1818, made up from the Returns of the
Inspectors In the different Cities and Towns in England and Wales
per Imperial Quarter.
WHEAT. I;BAELEY.I OATS. ZYZ. I MUM I MIL
PRICZ .. I b3s bd 30s 6d 21s Od 29e 2d Ns Id 4fig Id
the Autiel ou Fureigu 11011' AROMA