The Sun.
London, England, 1848-12-28 00:00:00

ITALY.

GARIBALDI'S legion, 1,000 strong, arrived at
Venice on the 14th, in three Sardinian steamers.
The' legion garrisons Fort Malghera, from which
the Croats were recently repulsed. Provisions are
abundant in Venice.

Letters from Trieste, of the 17th inst., published
in the Austrian Lloyd's Gazette, do not mention the
arrival or appearance off that port of a Russian fleet.
Admiral ALnrm, the commander of the Sardinian
fleet, bailed from Ancona on the 13th, only leaving
a frigate and a steamer there ; his squadron, consist-
ing of five sail and one steamer, is cruising between
Quarnero and the Italian coast. The French steamer
Asrnodie was at anchor at Ancona:

A grand service was performed in the Duomo of
Milan on the 14th, by the Archbishop, in celebration
of the accession of the Emperor FRANCIS JOSIPH.
The Theatre of La Scala was illuminated in the
evening.
The Provisional Government of Rome intend to
accredit envoys to the various Courts. Count Po-
roLt will, it is said, be the Roman representative
in London.

Alajor General Thomas James Wemyss, C. 8., is
placed upon the list of general officers who arcl in the
receipt or the unattached pay of If. ss. per dity. ,

ONE
P ,;, P., ~f..' -AITISSi I,UND3 O'CLOCK.
tiraik Stock ' lB9
"3" per Cent; ilediica A.,:ns 88%44 89
New 314-per Cent. Arens......
Long Anns. to expire Jan. 1860
Ditto, Oct. 10. 1859 ..... ....
'ndia Bonth, 1,0004
Consols for Account 8836%
Exchequer Bills. 2%d. & 2d.
1,0001. March ...... . . ......
5001. March..... 43 39 p
Small, March ' '
Small. June
PRICES OF FOREIGN FUNDS.

CLOSIIsiO
PRICES.
189

8834
89%
8 11-16
8 lyt:2
40p
88

ONE CLOSING
O'CLOCK. PRICES.
Brazilian Bends. 75% 75 75
Equador Bonds
Grenada Bonds, 1 per Cent.
Ditto, Deferred — 25
Mexican, 5 per Cent. 1846 24:%% 241,
Peruvian Bonds, 6 per Cents 44% 45 . 16
Portuguese s„Per Cents. — --
Ditto, 3 per Cent .... — ' 25
Ditto, 4 per Cent. 26 q 26
Ditto., Account .•• 2614
Spanish 5 per Cent. 1840.
Ditto, Passive
Ditto Deferred; lll4
Ditto, 3 per Cent • 28% 21 28% -21%
Venezuela Bonds, 2% per Cent l9 18%
Ditto, Deferred — ' 514
• Dividends on the above payable in London.
Dutch 2% -per Cent., 12 Guild — 4914
Ditto. 4 Der Cent. Certificates 75 74% 74%
PRICES OP PAID. BUSINESS DONB CLOSING
RAILWAY SILUtES. AT ONE O'CLOCK. PRICES.
Aberdeen - 50 .
Amber. Nott., Boston,- .
and Eastern Junction- 414 ......
Ayrshire and Galloway.. 7%
Belfast & County Down 19 -
Birmingham and Ox-
ford Junct., calls duly
paid, or with a guaran. 20
• .Do, withoutguaractee 20 . ...
Birraing, Wolverh'ton,
and Dudley, calls duly
pd, or with guarantee 10 ..... •
Do. without guarantee 10
l3irmi rig., Wolyerh'pton, .
' and Stour Valley 13/. 14e... ••
Birkenhead, Lancashire, - ...
• and Cheshire June—. 10
Boston, Stamfd & Birm. i
Bristol and Eieter -90 ... ..
Ditto, Thirds' .:.*:. ... 27% I6IA ..:.... ... •• .. .
ttickingharashire.... 141.45.
Caledonian
- Ditto, Half Shares .. 8N......- 11%
Do. New 10/. Pref..... 7%...... 7%%
Ditto-,Clydesdale June - 50
Chester and Holyhead... 50
Ditto, Preference
Clarence
Do. Ist Class, 6 per Ct. 10
,
- -Do-. -2d Class, 5 per Ct. 10 ......
Do. Government Loan, .
4 per Cent. • 10 ......
Direct_ London & Ports-
mouth
Dublin and Belfast June. 35
Dundalk & Enniskillen 20
East Anglia, 25/., L. & -
E. and L. and D...... 25 ....... ... ..
Do. 184, E. & H..., 18 ...... ....
Do., 3/...105. . ... ......„ 4% .... 2%4 : 23
Eastern Couatiell... ..... 20 ...... 117 12 ......
- Do. New Guaranteed • .
•• 6-per Cent. . ... .... 10 - ...... 11% , ' . 11%
Ditto, Extension, 5 per
Cent., No. 1 6/.135. 4d.... A p % P .._,
'
;Ditto ditto, No.. 2...61.135. 4d...
. Do. North. & Eastern 50
. Do., 5 per cent.
..- Do. Quarters .. ....
Do. New -
Eastern Union, Class. A
(late E. U. Shares) -25 . ...... -
. Ditto, Class A, ditto... 1 -
Ditto, Class B (I. &
' - and B.) . '2O
.....
' ' Ditto, Class C; ditto.. 20 .
DP. &rip (6 per cent.) 10
-Ditto, ditto ... ' - 20
Ditto (C. & E.) guar.
5 per cent:...".......: 2%....,. -...
....
East Lancashire - 25 ... .....
Ditto, New
...,
Ditto, New Quarters . 614 —. . ... ....„ ..... _
De.,. 6 per Cent. Pre- .. .
ference Quarters ... 6% — ... .....
......
~..,
Eait Lincolnshire . ...... 25
Edintnirgh *and Gleigow' 50,
Ditio,-Half Shares ... 20 .. 39
• • .
Edinburgh and Northern 25
Ditto,
Newport li ..... .... ..... ......... _
Exeter,Yeevil, & Dorch 2%
Glasgow. Dumfries, and
Carlisle .... ... ..8/. 6s. 8d.... -
Glasgow,Kilmat.,& Ayr 50 ......
Do. Preference Corisol.
Great Northern
Do., )72 A Deferred ... 12%...... 5 5%
Do., % B 6 per Cent.
guaranteed ... ..... 6% 414
Do. Extension

16%

211 h
1%
7:r4

8%8
514
414

Treat South. and West-
(lreland)
Great North of England.loo ......
Ditto, New, 40/ 4O
Ditto, ditto ... . ... ....... 25 . ' - ••• . .....
Ditto, Newi3o/. . . ...... 30
Ditto,.New,ls/ l4 .. .. .... ......
Great Western 90.,,...... 79%80.:..,... 78%
-Ditto, % Shares
...
Ditto, ~,,i Shares
DitiO, Fifthi. .....
..... ...
Ditto, New 171.'.. ..... 13 ...
Huddersfield and Manch. 30 . .
Ditto, Thirds
.......
--
Hull and Selby 5O ...... • ...........
Ditto, Half Shares-
Ditto, IA Shares
.. .......
Lancaster and Carlisle
Ditto, Thirds
Lancashire & Yorkshire 93 ...............
Ditto, ditto
Ditto, 4 Shares ... 43 ............... 6234

, .•..• _ ••• •• ••..•• ......
Do. Quarter Shares... 171/2
Do. Fifths.... .. 10
......
......
Do. Sixteenths 6 — . ........... •
..
Do. Thirds (Reg.)..... 13 .....
.........
Do. New, Gua. 6 per ct. 7% — ...
...
...
............
Du. Liverp. and Bury 43 -. ... . ..........
Ditto % (late Hud-
dersfield and Sheff.) 43
••
Do.(Wakefield,Ponte- .--
fract, and Goole) ... 50
Do. (W. Riding Union) 7 • l7ll ... •• -. ..... 1 %
Do. (Preston & Wyre) 25
Do. % Shares (A)... 9% - ... ............
Leeds and Bradford
...
Leeds, Dewsbury, &c.... 50
Do, Half Shares
Do., (blue) Scrip...... 2% - ...............
Leeds and Thirsk
Ditto, New ...... ....... 35
Po., Prefer., 6 per Ct. 3% — ....... ... ......
Liverpool, Crosby and
Southport 3lt — ...............
i =veY-p.,Manchster, and
Newcastle Juliciion... 2% - , .....
Loudon& Black wa11...13/. 6s. 8d 5 ....
, _
Do. Eitension ..... ... 22% — ......
London, Brighton, and
South Coast 5O 0.60 31%

-
98lh

....
2O

4%

81%

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were esti-
mated at 4,000 bales, including 3,300 American, at 50.
to 61d.; 150 Pernams at 41d. to 51d.; and 250 Surats at
3d. to 3ed. The market closed quietly, but with steadi-
ness. Railway Shares were in moderate request, but at
the close receded a little.
Cape of Good Hope advices to the end of October
state, that the colony enjoyed most perfect tranquillity.
After an absence of eighty-three days, Sir Harry Smith
had returned to Cape Town, having entirely and satis-
factorily arranged the affairs of the frontier, and placed
them upon a basis which was likely to ensure future
prosperity and good government. The farmers
were again following their usual avocations.
At Natal there were land plots advertised
for sale on behalf of the Government at the prices of
4s. and ss. per acre. Some interesting changes in the
government of the Cape, and notably the recognition of
the principle of legislative representation, were likely
to be supported by the new Governor.
The commercial accounts from France are much more
favourable within the last few days, and confidence
is reviving, particularly in the silk manufacturing
districts.
Although an " Equitable Adjustment of the National
Debt" is a thing easier imagined than accomplished,
there are few doubts as to "Financial Reform" being
imperative, and accordingly we may give some remarks
from a statement now circulating, though without signa-
ture. The writer maintains that—
" The present Board of Commissioners for the Re-
duction of the National Debt, with such additions as
might be deemed requisite, are obviously the proper
medium. Let, then, their officers, or agents, purchase
in the market Consols or other Stock, and re-issue them
in the shape of Terminable Annuities. Thus taking
Consols at 901., the Board would purchase them at that
price, and re-issue the 1001. Stock so purchased as an
annuity of SI., for, say, thirty to thirty-three years,
or even more. Suppose they were even re-issued at
forty or sixty years' purchase, it is obvious that
the public would be the gainers, because for every 1001.
so converted, a certainty of getting ultimately rid of it
would exist,' whereas under the present system it re-
mains an eternal and almost intolerable burden.
" The annual amount of taxes collected may be
estimated at near fifty millions. Now, though
this amount is virtually mortgaged in anticipa-
tion, there is no doubt that arrangements might
easily be made for the passing of a portion of
this through the Board before adverted to, and it
is calculated that from ten to twenty millions per annum
of fi lived Stock, at the least, might be gradually con-
verted into terminable annuities, in the mode before
mentioned, without, it is apprehended, the monetary
aflairs of the country being in the least degree deranged;
and the newly-created annuities would become just as
much the subject of commercial transactions as lease-
hold property which has thirty or forty years to run.
" Had such a principle been adopted at the termina-
tion of the war in 'lBl5, and only fifteen millions per
annum been so converted, 500,0001. of taxes would now
be annually remitted, so that in eight or ten years hence,
or less, a gross sum of near thirty millions of taxes
would come off, exclusive of future reductions."
The duty on Foreign Wheat is higher, being Bs.
The Funds are very firm to-day. Consols 884 to 88j-,
and New Three-and-a- quarter per Cents. 891 to 89k.
Bank Stock is about 189 to 191. Exchequer-bills are
394. to 423. premium. The market is extremely quiet.
In the Foreign Market Spanish Active Bonds are 141
to 14i, the Three per Cents. 28 to 281, and Portuguese
Four per Cents. 26 to 261; Brazil Stock is 75 to 75i
Dutch Four per Cents. are 741 to 75.
Railway Shares are generally in fair request, withou
any decided movement in prices.