The Sun.
London, England, 1856-04-11 00:00:00

patios of the city—the suppression of Republican
liberty, the restoration of the POPE, a measure
popular with his own clergy, and the balancing
the Austrian occupation of Ancona—it is not
easy to say which had the greatest weight in his
mind. All three were political cards in his
favour, and cur Court and aristocracy hating
republicanism at least as much as he, were not
indisposed to see republican order subverted even
at the cost of reinstating the Pope, the Cardinals,
and the Inquisition, in full power over the bodies
and souls of the unhappy Romans. The result
has been what France is, we believe, thoroughly
ashamed of. France is Catholic, but it is not
priest-governed—indeed there the priests, like
our bishops, are rather the employes of the
Government than the Government the tool of the
priests. The Government Exchequer has taken
security for their subordination there, and ac-
cordingly they diligently plant trees of liberty
one year, and shout " Vive l'Etnpereur" the next,.
It is difficult to predict the result. The least
possible we may be sure in favour of liberty. It
is not easy to say whether the Emperor of the
FRENCH will prefer raising Piedmont to be an
Italian counterpoise to Austria, or keeping a
constitutional monarchy in relative inferiority. He
does not like Austria omnipotent in Italy, nor we
conceive will he like a powerful and well-regulated
constitutional State for a neighbour on the south.
Between England, and Sardinia growing in im-
portance, it will become increasingly difficult to
silence all political ability in France but his own.
As to our Government and Aristocracy, we
can hardly suppose that either Whigs or Tories
do not look on the constitutional course
of Sardinia with pleasure. Its spirit has
conformed so closely to our own. Its Sove-
reigns and Ministers have so honourably and
steadily, and under several tests, proved their
capacity for harmonising the conflicting elements
of party into effective action that English States-
men of all parties must be cordial well-wishers to
an increase of the power and influence of the Sar-
dinian monarchy. Hoping the least, we can yet
expect but little ; two things only are certain,
that the sacrifices of this small State in the War
deserve that she should be supported against the
coward Austria ; but that Austria, Russia, and
the Coburgs, we fear also Lours NAPOLEON, can
scarcely be very friendly to the just claims of the
only free Italian State.

Of all sorts of lying, saving and excepting
malicious, we take wanton or supererogatory lying
to be the least excusable, inasmuch as it is not
merely immoral, but foolish also and suicidal.
Yet this is precisely the sort of fabrication which
characterises the Manifesto of the Emperor ALEX-
ANDER. The truth would have served his turn
infinitely better had he stuck to it ; but it seems
the old Greek leaven was too appropriate for the
wounded vanity of the Russ to fail of applica-
tion, and the result is he has lowered himself
in European estimation, and diminished
whatever confidence his subjects reposed in
him. It were hard to believe that filial piety
has so far blinded his understanding as to
cause him to have faith in the lying assur-
ances of the deceased NICHOLAN, that he had no
selfish intention in invading the Principalities,
and from humane motives was repugnant to war,
and anxious to avoid all occasion for it ; but it
would be sheer folly to give him credit for a like
Vindnesi as to the results of the hostilities waged
by Russia with the Allies. These are too palpable
for misapprehension on his part, and too patent
for concealment from his subjects—and we will
add, on the whole, of too gratifying a nature to
call for so much perversion, even from the most

unscrupulous.
True, Russia has been unable to hold all her own.
True, her fleets have skulked behind her fortifi-
cations from the fleets of the Allies. True, one of
them had to be burnt or sunk to escape capture.
True, her armies have been beaten in every
foughten field. True, one-half of Sebastopol is in
possession of the Allies, together with the vast
store of ammunition and instruments of war it
contained. True some hal million of her sol-
diers have been destroyed, and millions of her
treasure have been expended. But what of that ?
How otherwise did the conclusion of peace find
her ? With a fleet still in her possession, and the
means of building other fleets. With half of
Sebastopol intact, and all the necessary muni-
ments of defence. With hordes of serfs to recruit

her armies and her fleets. With Sweaborg but in
partial ruin. With Cronsta,dt and St. Peters-
burg unassailed. With Odessa, as a mercantile
port, uninjured. WithKars and thebraxest portion
of the army of Anatolia in her custody. With
the braver► of her armies admitted. With the
fact patent to the world, that she had resisted
with a success almost miraculous the onslaught of
two of the greatest, and two of the lesser Powers
of Europe 1 Why, when peace is made, have
recourse to falsehood, when the miserable folly of
the Allies had let her off so unscathed by war,
that the truth, or a portion of it, would have
served her purpose ? The EMPEROR but too well

knew what would have been the issue of another
campaign—that defeat, dire and irretrievat.le,
had been sown for Russia, and victory signal
and irresistible for the Allies ; and that the har-
vest would have been thoroughly won; had not
his friends in the Allied camp been all powerful,
and overridden the wishes and sacrificed the inte-
rests of the people. Had he no gratitude, that
he should insist in his Manifesto that Russia
comes out of the war, comparatively speaking,
victorious, by the might of her own right arm,

when all that was needed was to point to wh%t
the Allies had palpably left unaccomplisked,
and Russia has secured, to wit, in addition to the
restoration of what has been taken from her, an in-

terval—whioh she may prolong at her own dis

cretion, wherein to pursue uninterruptedly her
intrigues, recruit her strength, cultivate and
husband her resources, and, by the laying down
of a network of railways, render them more than
ever available for her felonious purposes. What
miserable bosh then this lying prate, of labourers
hastening (if they did it was in chains) from the
plough to arm in defence of Russia—of repulses of
the foe that never took place—of successes due
only to the folly of the Allies, and of the (Russian)
object of the War being attained ! Not only to
be permitted to escape utter prostration, but also

LATEST NEWS.

FRANCE.
PARIS, THURSDAY EVENING.
The following was the situation of the Bank on
Thursday, April 10:

CR. Fr. c.
Cash and ingots
Cash at the branch banks
Bills due yesterday to be paid to-day 564,036 18
Bills becoming due in Paris
Bills in the branch banks
Advances on coin and ingots
Do. in the branch banks
Do. on public securities of France 77,664,136 10
Do. in the branch banks
Do. on railway shares and bonds 36,017,800
Do. in the branch banks
Do. to the State by treaty of
June 80, 1848
Advances on Treasury bills 40,000,000
Rented of the reserve fund
Reutes of disposable funds 52,190,792 93
Hotel and furniture of the Bank ... 4,000,000
Real property of branch banks
Expenses of administration 1,131,890 70
Premiums on the purchase of matieres 1,883,245 64
Sundries 988,247 2

1,016,023,099 35

,o come off with the semblance of a successful de-

LOANS OF CITIES.
Boston 5 per Cent. Binds (Divers)
.. 90
Montreal 6 per Cent. Bondi 1856-1865... 83
New Orleans 6 per Cent.' Stock 1883... 75

I From tke Oftiai Liu. ~

fence against such odds was surely triumph

enough.

Bank Stock Bustneeb done.
..... 214
3 per Cont. Redxced Annuities._
i per Cent Console Annuities .. 93 21 31 21
New 3 per Cent. Annuities .... ....... ..... 934 24 i 6
Long Annuities, expire sth Jan.. 1860 34 i
India Beads, 4:11no
Ditto, under £1000...
Consols tor Account (May 8)
Etcheqnor Bills, 24d. March. June.
• 21000 .
•.
£5OO 4 p 31 d
4mall
Ditto Bonds, 1858, 34 per Cent.. 94,1
Ditto, 1359
PRICES OF FOREIGN FUNDS THIS
Brazilian Bonds, 5 per Cent. 991 .4
.
Equador Bonds ..
Ditto Provisional Land Warrant
%lexica!' 3 per Cent —
Ditto Account
Peruvian Bowls 44 per Cent —
Ditto 3 per Cent 55
Ditto Account . 54/
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 4 per Cent
Russian Bonds, 5 per Cent., 1822, £St --
Ditto 44 per Cent. w— 95
Sardinian rsonis, 5 per Cent.
Ditto Account 9si 6
-I > r.q.l Rim's, 3 per Cent 4s}
Ditto Account
fijtto New Deferred, 3 per Cant. ..-
Ditto Account
T.,i in, I. ..iiiris, ii per cent
Ditto Account
Ditto Small
Ditto Guaranteed, 4 per Cent.
Ditto Account lOl4 4
Venezuela Bonds, 41 per Cent 2Bi
Dividends on tne above .ayable In London.
Dutch Exchange, 24 per Cent., 12 Guil —
Ditto 4 per. Cent. Certificates
THREE O'CLOCK.
,„
Consols, money ... 9-4 3
1
Ditto Account (May 8) 93 4

DAY.
ct-

24i

99k 83
931

Sixa

x d

DANK NoTEs.—A Treasury minute, dated the 18th
otilftt.
h,
eo paymentraddedristiothnealunder
et
hnee to
order
rfiitns
Council of the 7th of December, 1855. The additional
issue of btoantkhen
publicotes. o f
issue was 475,0001., and the net profit thereon amounts
to 8,0781.
NEW ENTRANCE TO TYR RECENT'S-PARK.—Dr. Gourley
has received an official communication from the Chief
Commissioner of Woods and Public Works, informing
him that the new entrance to the Regent's-park from
Charles-street, Portland-town, will be opened to the
Thari
int: vDti nher ea
nchild s
sister
ofs terth Carlisle,eu
at
g oe Vffed r
public on the Ist of May.
On Tuesday, died, we deeply regret to say, the eldest
s ne
yebi Rev.yghetoarleAt yearsr
fevereahni dbanl nine
eiCt
ha
imn months,piber le
weeks.
Tae consecration of the Bishop Elect of Carlisle (Dr.
Villiers) will take place on Sunday morning next, at her
Majesty's Chapel Royal, Whitehall, at eleven o'oloek.
The Archbishop of York will officiate.

IRONMONGERS' QUARTERLY MEETING.--BIRMINGHAM,
Thursday,—The third meeting of the ironrnasters of this
district for the current quarter was held in the townhall
here this afternoon. There was again a very large at-
tendance of the trade, and the turn which business took
at the meeting at Wolverhampton yesterday was to the
full extent confirmed by the proceedings to-day.
A prospectus has been issued of an Italian Junction
Railway Company with a capital of 1,000,000/. in 101.
shares, two-thirds to be subscribed in Switzerland and
France and one-third in England. The object is to con-
nect the French system of railways with the Piedmontese
and Italian by a line of 70 miles, from the Lake of Ge-
neva to Briegg, ultimately to be carried by the pass of
the Simplon to the town of Arona, in Piedmont. The
Swiss Government have granted a concession in perpe-
tuity, taking payment in shares for all the land and
wood required.

THE RtIN, LONDON, FRIDAY EVENING, APRIL ii llll.

MONEY IYIARKET

AND
C OIVIIVIERCLA.L INTELLIGENCE.

CITY, Two o'CLooK.
In the Liverpool Cotton Marketyesterday a strong
speculative feeling prevailed, and there were many
transactions reported in cargoes to arrive. The
market closed with an upward tendency, and
prices of Americans were fully id. per lb. above
the rates of last week. The sales were estimated
at 22,000 bales, comprising 12,000 Americans
(1,000 on speculation); 4,000 Pernam and Maran-
ham, 64d.. to 7/d. (3,000 on speculation); 2,000
Bahia, bid. to 61d. (1,500 on speculation) ; 2,000
Egyptian, 64d. to 9d. (1,000 on speculation) ;
2,000 Surats, 40. to 41d. (1,000 for export) ; and
100 Sea Islands, ls. to Is. 411 per lb. The
Railway Share Market was steady, without any
particular alteration.
The CJlonial Produce Markets this week have
been very quiet, and the tendency in prices for
some of the leading staples have been in the direc-
tion of a decline. Sugar has been particularly
heavy, and the amount offered by public auction
has been limited. The inferior kinds of Plantation
Ceylon coffee has been rather cheaper, but the mid-
dling and good coloury sorts have realised full
prices. Grenada cocoa has receded Is. to 2s. per
cwt. Rice has been steady, at full rates for the
superior descriptions, and tea dull. For spices
there has been very little inquiry. Nutmegs are
rather lower. Saltpetre has ruled firm, but quiet.
In tallow there has been more business transacted,
at slightly improved rates.
The creditors of Messrs. Saunders and Har-
rison, seed crushers, &c., assembled yesterday for
the purpose of ascertaining the condition of the
estate. An offer of 103. in the pound was made,
which most of those present seemed disposed to
accept, but the meeting adjourned without coming
to any determination upon the subject.
After the official hours of business yesterday
there was a decline in the English Stock
Market of nearly s per cent., owing to unfa-
vourable rumours with regard to the Bank of
England Return, which will appear in the
Gazette of this evening, and the market to day
has shown no signs of recovery. This is "pay
day," and the differences have been liquidated
without difficulty, although money has commanded
high rates. Consols, for money, have been 921 to
93k, and for account 93i 1, but they are now about
93i for the latter. The New 3 per Cents. 92i to
93, and the Reduced 91i to 92k. Bank Stock
per cent. higher, viz., 214. The March Exchequer
Bills were 4s. premium, and those dated June 3s.
to Is. discount. The Bonds are 98i I. India
Bonds are 3s. discount.

Foreign Securities are heavy, and the market
presents a dull aspect. Turkish C per Cents. have
receded to 1 per cent., being 99i and 981. Sar-
dinian Bonds aro 951, and Spanish Deferred 24g.
Mexican Stock is per cent. lower, viz., 221 /.
Peruvian 3 per Cents, have been 55, and Portu-
guese 4 per Cents. 49. Dutch 4 per Cents. are
93/ to 94i.

Messrs. D. Bell, Son, and Co. report that the
market for American Securities remains inactive,
and prices are without alteration.

Reemable.
United States 6 per Cents. 1867—ed1868...105Per Ceni
United States 6 per Cent. Bonds 1863...105
STATE SECURITIES.
Alabama 5 per Cent BO
Alabama 5 per Cent. (Sterling Bonds)
California. 7 per Cent. Bonds 1870... 80 82
Kentucky 6 per Cent. Bonds 1863-1872... 90
Maryland 5 per Cent. (Sterling Bonds)... ... 88 90
Massachusetts 5 por Cent. (Sterl. Bonds). ...100
Mississippi 6 per Cent. Pl. Bk.
Bonds lB4l-1871... 43 45
Mississippi 6 per Cent. Union Bk Bonds ... 16 13
Pennsylvania 5 per Cent. Stock
Pennsylvania 5 per Cent. Bonds 1877... 80 82
Tennesse 6 per Cent. Bonds
... 87 89
Virginia 5 per Cent. (Sterling, Bonds) 1888... 84 86
Virginia 6 per Cent. Bonds
.1886... 86 87

RAILROAD BONDS.
Illiaois Central 7 per Cent. Ist Mortgage,
not Convertible 1875... 78 79
Illinois Central 7 per Cent. Freeland
Bonds 1860... 82 83
Michiga❑ Central Bp. Cent. 1860... 92 91
New York Central 7p. Cent., Convert 1864... 03 91
New York Central 6 per Cent., not
Convertible 1883... 80 82
New York and Erie 7 per Cent. Ist Mort

gage 1867... 98 100
New York and Erie 7 per Cent. 3d Mort-

gage 1883...84 81
N. York and Erie 7p. Cent. Convertible 1862... 79 81
N. York and Erio 7 per Cent. Sinking
Fund 1875... Sli 82.3
Panama 7 per Cent., Ist Mortgage (Ster-
ling Bonds), not convertible 1859... 92i 933
Panama 7 par Cent., lit Mortgage 1864... 92 94xd
Pennsylvania Central 6 p.Cent.,lstMort 1880... 89 90

The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 71 8 ; Mexi-
can, 22 f ; Peruvian, 78 80 ; ditto 3 per Cents.,
54 6 ; Portuguese 4 per Cents., 48 50 ; Russian
5 per Cents., 104 6 ; ditto 45 per Cents., 94 96 ;
Spanish 3 per Cents., 451 6 ; ditto Deferred, 241 5 ;
ditto Certificates, 55 6 ; ditto Passive, 71 4.
The la.st week's railway receipts, ascertained up
to this day, are in round figures as under :

18t6. 1855.
North-Western
Great Western ..... 24,779 28,370
South-Western
Brighton 11,957 13,899
Midland
South-Eastern 16,151 17,162
Caledonian
Great Northern
Laneashire and Yarkshire
Bristol and Exeter 6,223 5,751
Chester and Holyhead
East Lancashire 5,415 4,940
Manchester, Sheffield, and Limln 8,738 8,944
North Stafford
Edinburgh and Glasgow
Great Western of Canada 12,623 8,571
Tho returns for the present year contrast rather
unfavourably with those for the corresponding
period of 1855, when, however, the Easter hdlidays
were observed, and which will account for the dif-
ference.

BRITISH FUNDS THIS DAY.-CLOSING PRICES