The Sun.
London, England, 1834-07-28 00:00:00

NEW YORK PAPERS.

NEW YORE, JUNE 28.—The Gold Bill, as it is termed, has
probably before this time received the concurrence of the Se-
nate and the signature of-thar and tlrus become a law
ottlie rand: The object of this measure is simply to regulate
the future coinage of gold in such a way as to diminish the re-
lative value of gold coins to the par of silver. According to
the standard which has been hitherto acted upon, gold has been
considered to be worth only 15 times as much as silver,—that
is to say; an ounce of gold and 15 ounces of silver have been
considered, according to the comparative standard of the Mint,
as of equal value. But in point of fact, gold bears a higher
proportional value in the bullion market than 15 times its
weight in silver; and hence the gold pieces coined at our
Mint command a higher price than their stamped value. An
eagle contains at present 2471 grains of pure gold, and is a
legal tender for only ten dollars. Yet 232 grains of pure gold
are received in the bullion market as the equivalent of ten
dollars in silver ; and hence an eagle is intrinsically worth
more than ten dollars in the proportion of this excess, or 66
cents and a fraction. The standard which is now about
to become the law will fix the relative value of silver and
gold at 16 to 1 ; or in other words, the eagle will contain 232
grains of pure gold, while the dollar contains 3711 grains
of silver.

_ This is an important measure, though we think its import-
ance has been overrated in some of the journals. It is im-
portant, inasmuch as it will diminish the difficulty of carrying
that policy into effect, by which it is contemplated to restore a
metallic currency, in the place of the paper promises to pay,
which have so completely filled up all the channels of circula-
tion, and driven silver and gold money, but gold more especi-
ally, out of use. In order that money should circulate freely,
its exchangeable and nominal value should coincide, or at all
events vary but slightly. The use of gold, according to the
present mint standard, would be attended with inconvenience,
even if paper were wholly withdrawn from circulation. Men
would not readily receive coin at a premium. It would
take time for them to learn that 10 dollars meant 10 dollars
and $6 cents.

But, though the undervaluation of gold at the Mint would
retard its general introduction as circulating medium, and would
at all times be felt as a great inconvenience, yet it is an egre-
gious ,mistake to suppose that this difference between its
stamped and its real value has driven it from the country.
Bank-notes have driven gold from the country ; and while
bank-notes continue to be issued without stint, no efforts of
legislation on coinage can bring back the precious metals into
circulation. If Congress should attempt to raise the value of
gold by making the standard for the eagle less than 232
grains, it could not by such a measure force it into general cir-
culation ; nor would it circulate at all, except at a discount
proportioned to the depreciation. The same cause has driven
gold coin from the country that has driven silver, except the
fractional parts of a dollar. We find enough of quarters and
halves of dollars for all the purposes of circulation, but we sel-
dom, comparatively, meet with dollars. Yet dollars would be
as plentiful as their fractional parts now are if dollar notes
were withdrawn ; iu the same way that the fractional parts of
a metallic dollar were as scarce as dollars now are when notes
for 124.. cents, 25 cents, and 50 cents were freely issued.
WASHINGTON, TUESDAY NIGHT.---The proceedings in
the Senate to-day have been such as will redound to their cre-
ditlo all succeeding times. They have, indeed, purified the
sanctuary of the Constitution, the place from which all law
shOidd emanate, -without a stain, from the foul and corrupt-
ing, and most dangerous of all practices, and by which,
henceforth, the occupant of its high and honourable post will
beTileterred from following in the steps of its late possessor,
by the fall that has justly followed that personage. His nomi-
nation as Minister to England was rejected, 23 to 22, a Vote
which shows that it was not what is technically termed a
party vote.' This was well begun, but a better remains be-
hind. Mr. Secretary Taney was rejected, by 30 to 15, and,
to mark further that party feeling could have no share in
causing this high, honest, and independent body, thus to re-
ject those miserable minions and tools of corruption, the high
character in which Mr. Butler—partisan though he be, and a
steady and warm one too, of Mr. Van Buren—was estimated
sojilifferently from that of the others, that his nomination, I
rejoice to state, was confirmed by a triumphant majority. The
principle being now settled by that august body, by which no
member of Congress shall be confirmed by them to any office
until the Constitution is restored to its original purity, will
work wonders. Already have we seen its effects in the fallen
visages and gloomy looks of the political aspirants of the day.
We shall not in future, I should hope, see the hall of theLe
gislature prostituted to the desire of ffice, and made the un-
blushing market of venality and corruption. It is needless
to comment further on the importance of this decision. They
have shown themselves worthy of the trust confided to their
hands."

, PRICES OF STOCKS THIS
Bank Stock 21S 6.
3 per Cent. Red. 91443,;
3 per Cent. Cons 90% 1
354. per Cent. -
Dittdilled. -4%34
New 33 per Cent. 9B
r Assented %%
4 per Cent.
100
tDissented lOl%
Rank Lon gAnnui ti es to expire
Jan. 3, 1860 l7 15 16 %
Oct. 10, 1839 -
Jan. 5, 1861' l7 1-16
Jan. 5, 1880
April 5, 1880
Jan. 5, 1870 -

PRICES OF FOREIGN FUNDS
Austrian Bond• - 10116 214
Belgian Bonds ' 98U
Ditto Account 98%
Brazilian Bonds
Ditto Account 80 7974 83
Buenos Ayres Bonds 33,4 3
Ditto Account 33
Chillian Bonds 3l

Ditto Account 317,4
Columbian Bonds fii.) %
Ditto Account
Columbian Bonds, 18'21.
=Ditto Account 3O 29,4
Danish Bonds 75%
Ditto Account 75%

Greek Bonds.,

Ditto Bonds, 1923 3351
Ditto Account —=

Mexican Bonds, 5 per cent 32
Ditto Account 32
Ditto, 6 per cent. 4l
Ditto Account 4l
Neapolitan 94g

PRICES OF SHARES THIS DAY AT ONE O'CLOCK.
Paid. Per Share.
Alten Mining Company £9 11%
Anglo Mexican Mining Company (ifs. at s'. pm.) 100 8
Bolanos Mining Company DO 115
Brazilian Imperial Mining Co. (issued at 51. pm.) 20 29
Ditto Macaubas Cocaes 2O 21
Ditto Scrip lO 13
Ditto St. John del Rey . lO 7 4
Cata Bran a Mining Company 4% '7
British Iron Company 5O - 30%
British Copper Comp ny
Columbian Mining Company (issued at 51. pm.) 53% 13%
English Mining Company 1234 224
Hibernian Mining Company lO 314
Mexican Mining Company 4934 t 6
Real del Monte Mining Co.. Registered 631. 10s. 6d
Ditto Unregistered —
United Mexican (issued at 21. pm.)
Ditto Subscription
Ditto New Scrip.
London and Birmingham Railway Company l5
London and Greenwich Railway Company 7
Australasia Bank lO
Canada Company lB
General Steam Navigation Company l3
National Provincial Bank of England
Provincial Bank of Ireland - 23
Rio Doce Company 2
Van Dieman's Land Agricultural Company lO

35%6
64

PRICES OF IRISH STOCKS, DUBLIN, JULY 23.
3 per Cent. Consols 90% Grand Canal Deb. 6 per cent. 91%
Ditto Reduced - Ditto, 4 per cent 61%
334 per Cent. Stock 9B Hibernian Bank
Ditto New, 1830 98% City of Dublin Steam Co.
-
34 per Cent. Debentures 90,4 National Insurance Company -
Bank Stock 220% City Debentures, 4 per cent... -
Royal Canal Stock
Grand Canal Stock ...... - per cent. ---

HIGH WATER AT LONDON BRIDGE TOMORROW.
Morning... ......•30 minutes after 7. I Evening .59minutes after '7.

THE SUN IS NOW THE LARGEST DAILY
PAPER IN LONDON.

I.
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LONDON,
MONDAY EVENING, JULY 28, 1834.

The Irish Coercion Bill was re ad a first time in the
House of Lords on Saturday, and will undergo a
second reading this evening. The Ministry have
likewise determined that the Irish Tithe Bill
shall be passed this Session, in spite of a de-
claration of Mr. O'CONNELL'S, who asserts that
three months would be requirred to carry it through
the Commons. Lord AL THO RP thinks one-third of
the time sufficient, however pertinaciously the Bill may
be opposed, and he has resolved to delay the
rising of the Parliamant• till this measure be ac-
complished. We hope the Bill will not be so
opposed as to create any unnecessary postponement of
the arrangements of those gentlemen who, calculating
on the early rising of the House, were preparing to
leave town; and that, at the farthest, Parliament will
rise in the course of the ensuing week.

The French Papers of Friday and Saturday have
been received, extracts from which will be found in

another column.

Don CA nLos is making no progress in Spain. It
is believed he cannot hold out a week after the meeting
of the Cortes ; but whether that event will be delayed
in consequence of the increasing prevalence of cholera
at Madrid, is not yet known. Some of them have
already arrived, but 95 are necessary to constitute a
Chamber.

The French Ministry have appointed Count D R 9 UET
D'ERLON, a brave, gallant, and experienced officer,
whose father served under NAPOLEON, Governor of
Algiers. This appointment has given general satis-
faction.

The triumph of truth, and humanity, and religion,
achieved in Spain by the final abolition of the (Holy !)
Inquisitioh, and the appropriation of its revenues to
State purposes, is worthy of being celebrated with re-
joicings throughout Europe. This glorious event was
formally announced in the Spanish Gazette on the
17th inst., and never again may the earth groan be-
neath the weight of such an instrument of accursed
torture, nor the sacred name .of Religion be employed
to sanction the dark and diabolical deeds of which its
ministers were the only witnesses. GOD be praised !
this is one of the first fruits of constitutional liberty:
the golden harvest is fast ripening.
The cholera rages in Madrid ; and, by accounts
which we have received up to the 19th, there, is little
hope of its speedily abating. The victims to it were
dying at the rate of from one to three hundred a day.
Great excesses were committed in consequence of its
being believed by the people that the Monks had en-
tered into a league with Don CARLOS, and poisoned
the wells, so as to cause the mortality among them.

In consequence of this belief, for which there was not
the slightest foundation, a tumult was raised, and the
multitude killed five friars in the public streets, forced
their way into the convent of San Isidro, belonging to
the Jesuits, and butchered twenty of the brethren; then
attacked the Franciscans in the Convent of St.
Thomas, many of whom they massacred in the most inhu-
man manner ; and were it not for the active interference
of the Government, it is doubtful, whether they would
have left a single friar ' alive in the city. The secular
Priests have not been molested, nor has the slightest
manifestation of ill will been shown towards them.

FRENCH FUNDS.-Eous, JULY 25.
Five per Cents., 105 f. 70c. 90c. 85e.
Four per Cents., ME 50c. 94f.
Three per Cents., 75f. 70c. 90c.
Treasury Bonds, Oct., 35%, April, 3!,t•
Bank Actions, 1,765 f.
Rente de Naples, 93E lec. 93f.
Roman Five per Cents., 94
Rente d'Espagne, Five per Cents., 33 33% 34.
Rente d'Espagne, Three per Cents., 385¢73 38U•
Royal Spanish L0an,.73 735.
Rente Perpet. d' Espagne. Five per Cents., 58% 58.
Belgian Loan, Five per Cents, 98.
Haytian Loan, 232 f.
EXCIJANG6 ON LONDON.
One month, paper, 25f. 2756 c. • money. 25f. 27%c.
three months, paper, 25f. 17%e. ; money, 23f. 15c.
- Cour.' Authentiq
FRENCH FUNDS.-Pams, JULY 26.
'ive per Cents., 106 E sc.
Three per Cents., 761. 25c. 20c.
Treasury Bonds, Oct., 3%, April, 3%.
Bank Actions, 1,760 f.
Rente de Naples, 93f. 93f. 40c. 25c.
Roman Five per Cents., 94 945 y.
Rente d'Espagne, Five per Cents., 34 304.
Rente d'Espagne, Three per Cents., 39 31334.
ltoyal Spanish Loan, 74.
Bente Per pet. d'Espagne. Five per Cents., 59% 5834 58%.
Belgian Loan, Five per Cents., 98%.
Haytian Loan, 2851.
EXCHANGE ON LONDON.
One month, paper, 2.if. 27%c.; money) 25f. 27gc.
Three months, paper, 25f. 175%c. ; money, 25f. 15c.
--fours Authentique.

The disturbances at Madrid during the 17th and
18th instant had nothing of a political character, ex-
cept, so far, as they showed the *ling of the people
towards the idle monks and friars. It was a mere po-
pular commotion, excited by the terrors of the cholera,