The Sun.
London, England, 1856-01-31 00:00:00

FRANCE.

The majority in Paris continue to believe in
peace, and too many forget the vast sacrifices
France has made, and the great interests which are
at stake. The funds are still disposed to rise,
owing to the confidence which large speculators
have in the pacific issue of the approaching Con-
ferences.
The latest intelligence from the Crimea says, the
Russian batteries Bilboquet and Gringalet con-
tinued their lire.
It is supposed that the Russians have abandoned
the idea of attacking Kertch ; but an army still
threatened the garrison.
BOURSE, Jan. 30.--The following were the quo-
tations :

Cash. ff. a.
.
4i per Cents 95
3 per Cents —•••• 71 50
New Loan .... 70 70
Bank Shards -- Roman Credit Alobilier—.... 1500 --85 Austrian
40,
Piedmontese(s)...... 88 Home Debt
RAILWAYS—VOR CASH.
fr. c, fr. C.
Othans ... .......... ... 1225 Westorn BlO
Northern ... 905 Strasburg
Lyons. ........ 1200 New Ditto ...........
nediterranoan ...... Grant! Contra]
CLyons Geneva ...... 717 50 Tato
etto ................ .. -- -- Austrian Cora 872 50

End of Month.
—f.
71

AUSTRIA.
A letter from 'Vienna, of the 2Gth, says :—" A
courier of Count .Esterhazy arrived yesterday from
St. Petersburg with the text of the Russian accept-
ance of the Austzian conditions, and with detailed
despatches from him. It is thought that the pre-
liminaries of palco will be signed as soon as the
Cabinets of Paris and London shall have become
acquainted with Cie docuMents now brought. As
regards Prussia, negotiations respecting her ad-
mission to the Conferences are still pending, and
it is probable that Colonel do Manteuffel, who is
very active in the natter, will not leave Vienna
until the beginning of next month."

RUSSIA.
A letter from St. Petersburg of the 20th, in the
Debats, says :—" U,p to the present date none of
the journals of this capital have given either the
text of the propositioys of peace drawn up by Aus-
tria or oven an analysis of them. In the meantime,
other journals certai-aly will not hesitate to publish
this communication, which exceeds the most pacific
hopes that had been entertained, and has caused
the greatest joy here, where no one anticipated the
possibility of so speedy a peace. The dearness
of provisions and the distress, which every day
increases, added to. the exhaustion of the
finances, will have mainly contributed to the
resolution which has: been come to. I have
already mentioned the last ukase relative to the
finances. According to that decree, the total
amount of the treasury bonds bearing interest in
circulation is now 85 millions of silver roubles
(340 millions of francs), whereas, in 1843, it was
only 60 millions (240 millions of francs.) The
amount of paper money which does not bear inte-
rest cannot be so easily calculated. At the end of
1844 it amounted to 336 millions of roubles, and
is now calculated to amount to 400 millions. To
the above must be added the last loan of 50 mil-
lions. The winter season has not been very ani-
mated this year. There is almost always at every
ball some wounded officer from Sebastopol on leave,
who generally monopolises the attention of all pre-
sent. Prince Augustus of Wurtemberg has arrived
here from Berlin." '

GOVERNMENT AND BANK NOTES.

TO THE EDITOR OF THE SUN'.
I SlR,—Excuse me if I say that in your very able lead-
• in, articles about money affairs you have not yet shown
• the difference between a Government note and a Bank
note, and, therefore, not put this question into a suffi-
. aiently clear light.
' The directors of the Bank of England have of late
acted very prudently and correctly, and the cause of the
present money pressure arises from a quarter, which
they will not confess, viz.—that besides Bank notes,
we ought to have Government or National notes in cir-
culation.
whicThe Bank, with a limited capital, issues a paper,
h, of course, must be convertible at any time, and
the different Acts of Parliament to force her to this have,
therefore, been very judicious.
But, if we had a broader basis, that Parliament had
sanctioned a National note, issued by Government, and
receivable in all its offices for taxes, duties, excise, post-
ages, &c., this note could and ought to be an inconver-
' table one, as there is no necessity for its convertibility,
the whole empire serving for its guaranty. These
notes can never be at a discount, if not surpassing one-
half the yearly expenditure of the country, and the
amount ought to be fixed every year by t egture, in accordance with the requirements ofthe nation,
and would, without the least risk, produce the following
advantages :
A constant suffloieney of circulating medium.
A. low discount and, in consequence, general pros•
purity.

A
liberation of all the gold required for a war.
The saving to this empire of one or two millions every
year by reducing the issue of Exchequer bills.
The naving to Legislature of again interfering with
the Bank Charter. The Bank of England being a mere
company like the other banks ought not to be deprived
of it's charter, although of its monopoly.
Nations that are comparatively poor excel the Eng-
Egli in the arrangement of their Government paper
money, for instance—Russia and Prussia. On the Ham-
burg Exchange Prussian Government notes stand often
one eighth per cent, better than Prussian silver dollars,
and we never hear of money crises in Prussia. Where
would bo the misfortune if we went here with Govern-
1/. notes in our pockets instead of sovereigns, often
sweated and too light
I shall feel obliged if you will permit a foreigner to
state his little insight, as far as it goes, in such an im-
portant matter, hoping you will grant it your consi-
deration. —Always your obedient servant,
A. NOBILING.
Howford-buildings, Fenchurch-street,
Jam, 29, 185 G.

The half-yearly meeting of the proprietors was her,
yesterday at the company's office, Lothbury ; Maio
General Wylde, C. 8., in the chair.
The SECRETARY (Mr. J. S. Fourdrinier) read the polite
convening the meeting.
After the usual preliminaries,
e/
The CHAIRMAN laid upon the table the balance-ehe,
and statement of receipts and expenditure of the compile',
for the half-year enclitic, Dec. 31. He regretted to eel
that he occupied the chair that day in consequence Is
the resignation of their late chairman, Mr. Ricardo, J.,
might nut be universally, though it was generally, knoll,:
to the shareholders present, that it was to Mr. Ricer%
they principally .wed the formation and existence of the
company. (Hear.) It was owing to his talents, alt..,
energy, and perseverance that they were able to oyh
come the obstacles that presented themselves in the first
instance, and to obtain the act of incorporation to ford
;
the company. No doubt he was ably assisted by tri_,
gentlemen associated with him, but still great obstacle:
and difficulties were overcome, which could not bay'
been surmouktted were it not for the talents, perseverance'
and energy ',bleb he brought to the task. He should ale°
mention that the obstacles and difficulties, as they must be
aware, were greatly increased in consequence of the ventiou being one that was new to the public, and be
cause neither the railway companies, the commercial pay'
lic, nor the public in general, in the first instance, were a•
all aware of the advantages that were offered to thew'
The increase in the number of messages from year to year
clearly proved this, and he did not believe that they had
arrived at the maximum yet. (Hear.) He thought,
however, ho had said enough to justify the regret he
felt at Mr. Ricardo having resigned, and to justify the
shareholders to join with him in that regret. The
The chairman then called attention to the half-yearly
report of the engineers, showing the progress of the
works. He moved the adoption of the balance-2101
and statement of account,.
Several questions having been put with respect to the
accounts, to which explanations were given by Mr.
cardo, the motion was agreed to. A dividend of 14e.
3d. per share was declared.
The retiring directors and auditors were re-elected.
resolution Mr. ITENCEICIAFFE moved a the effect
that the proprietors of the company desired to record
their sense of obligation to their late chairman (Mr'
Ricardo) for the services which he had rendered to the
company, and also proposed that a suitable testimonial
should be presented to Mr. Ricardo. (Applause.)
Mr. COOKE (a director) rose to second the proposition.
He said that he should offer to the meeting an explana'
tion of his reasons fvr doing so. It was the first time
that he had publicly avowed it, but he did now avow it,
that he was the original inventor of the practical tele-
graph. He said that, principally to the energy and
talent of Mr. Ricardor assisted by an eminent engineer
then present (Mr. Bidder), was to be attributed the
establishment of the electric telegraph as at present
existing in the United Kingdom, and extending itself
over the coiitinent and in America. He had met with
better fo-tune than that which generally befel
vent( is, in ( btiining the munificent and enlightened
a,;sist;,,.ce of Mr. Ricardo, and had to confess his and
la telegraph', obligations to that gentleman, S.
confessed himself a partisan iu the matter to a certain
extent, bet he was yet convinced that all who had bad
an opportunity of witnessing Mr. Ricardo's adminiora-
t ion during the ten years of his chairmanship would de-
sire to join in presenting him with some testimonial for
his exertions, labour,, and talents, more substantial than
a mere vote of thanks. He only differed from the hon.
proprietor on one point, He thought that the money
for a testimonial should riot be voted from the company's
funds, but should be raised from a fund to be formed
entirely of private and al:together voluntary subscriptions,
and he begged, while seconding the motion, to propose
that a committee be formed from the shareholders and
directors to carry the proposal of presenting a suitable
testimonial to Mr. Ricardo ir.to effect. (Cheers.)
Mr. RAWSON, Manchester, said that although he dif-
fered from Mr. Ricardo regarding some practioal ques-
tions, he was happy to bear his testimony to the era,
tions he had made for the company.
The motion was then unanimously agreed to.
Mr. J. L. .Rioanno, after expressing his acknowledg-
ments, said that whatever labours he had gone through
were amply recompensed by so gratifying a compliment.
That those labours had been great he mutt admit, and
at one time so extreme were the difficulties that he al-
most despaired of success in bringing the telegraph to
its present proud position ; indeed at one period there
were but ten shareholders left, and they had bought up
all the shares that the holders e. ere endeavouring to get
rid of. They wen, then losing 3001. per week. In seek-
ing rest from the labours of his chairmanship, he was
gratified to think that he left the company in the best
possible position. Their prosperity would go on in-
creasing, because the telegraph was only in its infancy.
(Applause.)
The meeting then separated.

MARKET NEWS.—(This Day.)
____

CORN EXCTIANGE:
GENERAL AVERAGE PRICES OF BRITISH CORN
For the week ended Jan. 37,186,,,
made upfront the Returns of the
Inspectors in the different Cities and Towns in England and Wales
per Imperial Quarter.
W3EAT. BARLEY. 1 OATS. I S. I BEAM 1 PEAS.
76i 111 38s 41 251 81 541YS
81 45s 31 431 4d
THE SIX WEEKS' AVERAGE.
WHEAT, I 1
BARLEY. I OATS. lE. BEANS. PEAS.
77s 01 38s 101 26s td ) 53s lid 1 47s 6d I 4tl.s 3il
QUANTITIES OF GRAIN SOLD LAST WEEK.
Wheat, 111,243; Barl2 ey, 110,730 ; Oats, 21,87 G ; Bye, 567; Beans,
5,44; Peas, 2,154 quarters.

MEAT MARKETS.
NERTGATE AND LEADENTIALL. - The general demand
was firm, as follows :—Beef, from 3s 2d to 4s 4d ; Mutton,
3s 2(1 to 4s 6(1 • Veal, Is Od to 5s 4d; Pork, 3s 4d to Is 10d
per Sibs, by the carcase.
SOUTHALL, Jau. 30.—We hacl a much better trade here
to-day, and prices generally were higher than last week.
Beef, from 3s 4d to 4s 10d ; Mutton, 3s 4d to 58 Od ; Veal,
4s 4d to 5s 4c:; Pork, 3s 4d to is 8d per 81b8, to sink the
offal.
Rouronp, Jan. 30.—The trade ruled brisk, as follows :
--Beef, from 3s 4d to 59 Od ; Mutton, 3s 6d to 5s Od ;
Veal, 4s Od to 58 4d ; Perk, 38 4d to 43 8d per Blbs. Quar-
ter-old Store Pigs, 21s to 28s each.

HAY MARKETS.
SMITRIPIELD.—Meadow hay, 418 s to 61 Os ; clover ditto.
4/ 15s to 6/ 18s ; and straw, 11 58 Od to 11 103 Od per load,
Trade firm.
CIIMBEBLAND.—Meadow hay, 4/ 10s to 6/ Os; clove/ do.,
41 lOs to 61 16s ; and straw. 1/ Gs to 1/ 108 per load.
A short supply, and a steady demand.
WHITEOHAREL.—Meadow hay, 4/ 6s to 6/ Os; clover
do., 4/ 15s to 6( ; and straw, 114 e to 11 /Os per load.
Trade steady,