The Sun.
London, England, 1851-03-26 00:00:00

MONEY and COMMERCIAL NEWS.

CITY, TWO O'CLOCK.

The sales of Cotton at Liverpool yesterday were esti.
mated at 3,00 u bales, all to the trade, comprising 2,400 Ame-
rican, 100 Egyptian, at 71/2d. to 9%d., and 300 Surat, at
41,4(d. to sygd. per lb. The market was steady, and prices
%d. higher than on Friday last.—Railway shares were flat.
The letters by the Avon steamer from the West Indies
were delivered yesterday afternoon. The question of meeting
the liabilities of the colony had been much discussed in the
Legislature, and there was obviously an imperative necessity
for taxation. A local journalist remarks:—
" It seems to us quite certain that there is no way of avoid-
ing increased taxation if the affairs of the island are to be put
into a satisfactory condition, and the only question is as to
the kind of taxation which ought to be resorted to. There
would appear, nevertheless, to be a disposition in some
members to reduce rather than to increase the revenue of the
island. Thus, for example, a notice has been given for
instruction to the Committee on the Rum Rill to fix the duty
on that article at ls. 6d. per gallon instead of 2s. as at present.
The latter duty was imposed in consequence of the deficiency
in the revenue. In the report which has been submitted to
the House by the committee, of which Mr. Smith was
chairman, it is recommended not only that any augmentation
of past evils by any future annual expenditure being pe--
mitted to be in excess of revenue should be guarded against,
but that some immediate and comprehensive means
of putting the ascertained liabilities of the island
'on a satisfactory footing should be devised
with a view to the gradual and ultimate liquidation of the
entire debt. In order to this, a sinking fund of 10,2751. per
annum has been declared necessary, and this fond, notwi h-
standing that the principal was recognised in the Loan Act,
it is now thought by some members might be dispensed
with. The committee also assumed that if the arrears of in-
terest are paid up, and satisfactory provision made for this
charge in future, her Majesty's Goverrment will not object
to the amount due to them'being included in the general ar-
rangement."
A schooner was running between New Grenada and King-
ston, and it was hoped would be sufficiently supported to
keep up a regular communication with the Spanish Main.
On the whole, the weather in the colonies was favourable.

Accounts from Havannah state that not more than two-
thirds of the sugar estates pay enough, beyond the hire of
the negroes employed, to yield more than interest
on the other capital invested, and the taxation
upon imports and exports deprived the planter of
the advantages which he otherwise would enjoy. It
is stated that of late the Government have increased the
tax on the sugar exported, without any diminution of duties
on the imports received in exchange. The export duty on
sugar wns formerly 37i cents. per box—the new imposition
is of an additional 50 cents. This new duty has been farmed
out for 750,000 dolls. per annum, bythe Government. The official
returns for 1850 will show about 1,200,000 boxes exported.
At the rate imposed, this new duty would yield the Govern-
ment about 600,000 dolls. The contractor who pays 750,000
dolls. for the privilege of collecting it well knows
that the actual amount exported will be nearer 2,500,0 t
boxes than 1,200,000. The contractor and the exporters
have, it will readily be seen, a joint interest in defrauding
the Government. No, it is not considered as a fraud here,
inasmuch as the Government has openly made its bargain,
relinquishing the chances of getting even less than it has re-
ceivea from him, knowing well that its heavy impositions
of duties make it the interest of all parties to cheat Govern-
ment when it attempts to collect those impositions itself.
" The contractor wishes the amount returned officially as
exported, to be less than it actually is, in order that Govern-
ment and others may not know his profits by the contract.
The exporter wishes to be relieved from a portion of hie
burden of duties to pay. For an exportation of 3,000
boxes he will perhaps enter 2,000. For the 1,000 he com-
promises with the contractor, by paying half rates. The
Customs official is perhaps silenced by a douceur, which is
clear profit to him.
"So is it with importations; a portion is entered, say
one-half. The officer is verbally informed of the pre-
sence of the remaining portion of the merchandise.
This, of course, is open to arrangement. That arrangement
has become a settled matter. Of the duty on that portion
one-third is withheld by the consignee, one-third is paid
over by him to the Customs officer, and one-third is retained
by the Custom-house broker, through whose hands all this
business of entering goods is done, as it is, to a great extent,
in New York.

"It is no uncommon thing to see these Custcm-house in-
spectors and Custom-house brokers, living in a style involving
an expenditure of 5,000 or 6,000 dollars a year, while inspec-
tor's salaries are less than one thousand, and the brokers'
regular commissions certainly not much more."
In the Amsterdam Market, on the 24th instant, Dutch
Stock was more in request at 57h for Dutch Two-and-a.
Half per Cents. Spanish Fire per Cents. are higher. Mexi-
can Bonds are firm.

There has been an exceedingly dull market for Public
Securities, and the wet ,weather, combined with the slow
progress of the Ecclesiastical Titles Bill, has restricted
business even more than must under any circum-
stances have been the ease, while the transfer
books are shut. Consols have realized 96i to 96i for
Money, and 96% for Account. Exchequer-bills have been
51s. to 545. premium. The market now is a little flatter,
upon a report that bad news has arrived from the Cape of
Good Hope, but the date is old, we believe.
The Foreign Market has been quiet. Spanish Five per
Cents. are 211/8 to 21%, and the Three per Cents. 38%.
Mexican Bonds have realized 33% to 33%. Dutch Two-
and-a-Half per Cents.. are 58%.
Railway Shares have not moved to any extent this morn-
ing. Arrangements are being made for carrying over, as to-
morrow is settling day, and prices are generally flatter, the
French lines suffering most.
QUARTER TO THREE.
Console ... SOS O. 96i
Ditto Account ... 96i

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
8 per Cent. Consols Anna
India 80nd5under1,0001........ ....... — 6 l p
Cone*la for Account 96
India Stock for Account 2631,4
Exchequer Bills. I%d. 2d.
March. June.
1,0001.... 5l 54 p
5001. .— 51 54 p
Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Grenada, 11,E per Cent.
Ditto Deferred
Mexican 80nde,1846,5 per Cent., Coupons
Ditto Ex Jan. Coupons
Ditto for the Account
Peruvian Bonds, 4% per Cent B5 85L/21A
Portuguese Bonds , 5 per Cent
Ditto 4 ner Cent.
Spanish Bonds, 5 per Cent 21%14
Ditto Passive Bonds 5% 6%
Bpanish Itonds,3 per Cent,l840
Dividetvis on the above payable in London.
Dutch 2% per Cent.. 12 Guild

COURSE OF EXCH,
Amsterdam 11 15%
Ditto, three months.. 11 17
Rotterdam .... ••.. •• 11 17
Antwerp • • 25 22%
Brussels • • • • ••••••• 25 22%
Elamburgh .... • • M.B. 13 7
Altona.• •••••••• • • • • ••
Paris, 3 days'aight 25 2%
Ditto. 3 months .. 25 20
Marseilles • • .. 25 22%
Bourdeaux .• ... •
ITriuiltforton Maine.... 1194
Vienna, °free. 13 20
Trieste, ditto.... •• . .• 13 20
Petereburgh, 211. EWA.. 37
Madzid ••.. • ..... .... 50
Cadiz ••.••••••• •• •• •• 50%
Barcelona ............-
5evi11e................-

klq GE.-(THIS DAY.)
Leghorn .• ••.. • • 30 50
°OROS •• •• •• •• •• •• •• •• 25 50
Milan ........... .
Venice•• •• •• •• • • •• •• ••
Naples • •• •• 41%
Palermo,peroz........ 125
Messina •• •• •• •• •• ••4.• 125
Lisbon• • •• •• •• •• •• •• •• 53%
Oporto,— •• •• .• •• •• 53%
Rio janeiro ..........
Buenos Ayres
New York,6odays'sight
Philadelphia ....

PATOIS OF BULLION, PEE Of.
Foreign Geld inbars.. £3 17 9
Portugal Gold Coin .. 0 0 0
Spanish Doubloons .. 0 0 0
New Dollars .... •• 0 4 11%
Silver in bars .. •• .. •• 0 5 13

LLOYD'S SH IPPIN G.-( THIS DAY.)
LONDON, MARCH 26.—Wind this day at noon S.
PANAMA, FEB. 20. - The Lelia, Owen, Punta Arenas, in
working into the inner anchorage, touched on the reef, but
got off without damage.
Lima, FEB. 4. The Chili barque Ana was stranded on
the coast of Peru, between the Caletas de Lomas and Chola,
on the 7th January; crew saved.
BEEBICE, FEB. 26.—A shipping punt, from Plantation
Balthjoik, with 11 hhds. and 2 tierces of sugar on board, in
crossing the river, damaged her cargo, which has been con-
demned, and will be sold.
POET-AU-PRINCE, FEB. 26.—The Emilie French schooner,
from hence to Marseilles, was wrecked off Mole St. Nicholas,
the 11th of February; the crew and 200 bags of coffee saved;
the vessel, with about 1,400 to 1,500 bags of coffee, sunk coon
afterwards.
WEXFORD, MARCH 24.—The Queen of the Isles, from
Ancona to this port, is aground on the south end of the bar
here. _

FRASERBURG, MARCH 22. The David, which was
stranded near Rattray Head, in October last, has been re-
paired on the slip, and is ready to proceed to Thurso.
How. RT Towlr, DEC. 13.—The Cornelius arrived here
from Liverpool, on the 30th October, with loss of mainyard,
topmost, and top-gallantmast, maingaff, and trysail, having
been struck by a heavy sea while lying•to in a hurricane,on
the 12th October.

DOVER, Mesas 2.s.—Wind W., light.—Arrd. The Vor-
waarts, Peterren, London. _ _ _

COWES, MARCH 2o.—Wind S.—And. The Aurora, Land-
seer, Matanzas, N.B. ; Huelin, Rio Janeiro.

TORBAY, MARCH 25. Wind W. by S.—Arrd. The Vierge
Marie, Seykeus, Cuba for Falmouth.
PLYMOUTX, MARCH 25.—Wind S.S.E.—Arrd. The Con-
naught Ranger steamer, Belfast for London.
OFF SWANAGE, MARCH 24. The Admiral, Batavia ; Pio
Nono, Valparaiso, both for Amsterdam • Carl Edward,
Havannah for Bremen ; Anna Elizabeth, ialermo for Am-
sterdam.

KINSALE, MARCH 23.—Arrd. The Rosa, of Guernsey,
Odessa for Galway and Queenstown.
HARTLEPOOL, MARCH 24.—Sid. The Fox, Barbadoes.
LIVERPOOL, MARCH 25.—Wind S., fresh.—Arrd. Jane
Anderson, Allen, Possession Island; Elizabeth Mary Ann,
Oliver, Rio Janeiro. Sld. Leonora, Demerara; Joseph
Wheeler, Barbadoes; Woodstock, Adelaide, South Australia;
Menzies, Shanghai; Mary Sparks, Hong-Kong; Dorcas,
Bombay; Nimrod, Cape of Good Hope; Georgiana, Rio
Janeiro; Swan, St. Thomas; Horatio, and Anomina,
Havannah ; Whitehaven, Honduras; Hope, New ()deans;
Republic, Mobile; John Cumming, Savannah; Jane H.
Glidden, Philadelphia; Albert, Gallatin, and Argo, New
York ; Rio Grande, Boston ; Hannah, and Prince Arthur,
Halifax; Perseverance, St. John's, Newßrunswick. Albion
and Eagle, Galatz, were in contact this morning in the river;
the former lost bowsprit, and latter also received damage.
Off port, Hamlet, Mauritius ; Lord Elgin, Callao ; Agnes,
Rio Grande; Marion, Demerara; Home, Charleston; Gipsy,
Bordeaux; Daring, Robert Preston, Marchioness Clydes-
dale, Genova steamer.
QUEENSTOWN, MARCH 24.—Wind N.N.W.—Acrd. Sea
Queen,: Shaw, Callao; Rachael, Florence; Carril, Sir Robert
Campbell, Flukes, Liverpool for Newfoundland, with loss
of bulwarks, stanchions, &c. Sld. Britannia, New York;
Pero, Boston ; Cluney, St. John's, N. B.
DEAL, MAucu 24.—Wind W., moderate and tine ; W.
S.W. ditto and cloudy to S.S.W.—SkI. Jane Green, Porkt.Natal ;
Black River packet, Jamaica, and has since p
ICue t b_ac
ndianTeda;
side, St. John's, N.B. ; Creamore, St. John's,
Fanny, ditto, and both since put back; Margaret Pru Milne,
Countess of Seefield, Raja of Sarawak, Ganges. Put backilne
25th, G. Dean, Cape Coast Castle.

THE CONTRIBUTION THAT WILL WIN THE PRIZE.
—lt is rumoured that Government intends sending to the
Crystal Palace copies of all the measures that have been
passed this year, as its contribu'ion to the World's Exhibi-
tion of Industry ! Punch. _
We understand that the Rev. Mr. Bennett formally
completed his resignation of the incumbency of St. Paul
and St. Barnabas yesterday.
The Clothworkerb' Company of London, of which
the Lord Mayor is a member, has offered to give 15 acres of
building land, near the town of Coleraine, as a site for the
erection of the proposed "Magee College," and also a dons,.
goo ofvocri, in aid of the food for building and end9wme
at.