The Sun.
London, England, 1851-02-18 00:00:00

TUESDAY EVENING-, FEBRUARY 18, 1851.

fices to discourage the unholy traffic in human
flesh. We do not often agree with the Honourable
and Gallant Colonel the Member for Lincoln,
but on the present occasion we cordially concur
with him in stating, that "a weaker state-
ment never was delivered by a Chancellor of the
Exchequer of any party than that which has just
fallen from the Right Honourable Sir ChARLES
WOOD."

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday
The Thiers section of the Bourbonists has started
a new journal, entitled Moniker do l'Assernbl‘e. The
first number appeared yesterday, and contains the
following piece of " scandal" on the occasion of the
resignation of bis command by General JULLIEN
" General Jullien, one of the most distinguished offi-
cers of the army of Paris, has fast sent in his resigna-
tion to the Minister of War. The revocation of General
Neumayer and the resignation of General Jullien spring
both from one and the same cause. General Nt uma,yer
was revoked because he would not infringe the laws and
prescriptions laid down by military regulations. General
Jullien, if we be rightly informed, has been obliged to
give in his resignation because of his open professions of
devotedness and respect fur the National Assembly.
This are the best and noblest chiefs of our army obliged
to quit the ranks. An odd way truly to provide for the
defence of order by removing its bravest champions! But
the army in France is the army of the law, and will
never become Janissaries."
The Ordre, the other organ of this party, repeats
the tale of the resignation of General JULLIEN, and
has, on the subject of the Conferences of Dresden, an
article which goes far to prove the existence of a com-
plicity between the members of the Bourbon party
and the Russo-Austrian league. It says—
" We have already rented the rumour which attri-
butes to the powers represented at Dresden the resolu-
tion to allow Austria with all her states to enter into the
Germanic Diet. It does not appear that it is yet an ac-
complished fact, and certainly it is not as yet official.
We are assured, however, that Government has conceived
the most strange designs in reference to this matter. It
meditates no less—and we would willingly be contra•
dieted—than to make of this new complication of the
affairs of Germany, under the ridiculous pretext that
the balance of power in Europe has been effected, the
occasion of a political demonstration, first, in the shape
of protocols, to be followed by an ultimatum, and in fine
by a cases

To this the Ordre objects as an unnecessary inter-
ference with the Northern Powers. Now, considering
that the all but avowed object of the coalition of the
Northern Powers is a Cossack invasion of France,
what are we to think of the so-called champions of
order, who thus speak of it, but that they would fain
renew 1815 for their own profit.
NARYAEZ has arrived in Paris.

The Bourse was dull, and public securities de-
clined. The Five per Cents. opened at 961. 80e., and
closed at 96f. 50c. ; the Three per Cants. closed at
57f. 90c. ; the New Loan, 961. 50c. ; Orleans Railroad
Shares, 8871. 50e. ; Groat Northern, 476 f. 25c. ; Vier-
zon, 418 f. 75c.; Basle, 161 f. 25c.; Bordeaux, 3981. 75c,;
Paris and Strasburg, 377 f. 50c.; Tours and Nantes,
2521. 50c.
BusiNliss DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, Fan. 17.
Boulogne and Amiens, 914 ex div.— Dutch Rhenish, 3IA
—East Indian, 12 _Namur and Liege, 3f2—Northern of
France, 15'4 —Orleans and Bordeaux, 4—Paris and Stras-
bourg. 10►4—Rouen and Havre, 10.5 i —Sambre and Meuse,
31,41—Tours and Nantes, 51A.

SPAIN.
Madrid journals of the 12th have arrived.
The Gazette publishes the decree appointing Count
DE REVILLAGIGEDO political chief of Madrid. In
the Chamber of Deputies on that day General OR-
TEGA demanded explanations respecting the real
causes of the dissolution of the late Cabinet, and, in
doing so, made some rather severe comments on
some of the ex-Ministers. M. PEDAL made some
observations in reply, and referred to M. BRAVO
MURILLO in terms which caused that Minister to
it required, he would
ad-
dress the Chamber in his defence; he afterwards
support
went on to intimate, that if the Chamber should not
give his Cabinet the
probably proceed to a dissolution. He said he
would not content himself with a position not
clearly defined, and appealed to all the frac-
tions of the Chamber for support, and declared
he would not place himself under the exclusive
patronage of any one. Count DE SAN Lots, the ex-
Minister of the Interior, then proceeded to speak in
defence of General ItiAnvAEL, and had not concluded
when the post closed. M. SEIJAS LOZANO, M. PRIM,
and M. MON, intended to speak, and the debate was
likely to be long and animated. It was doubtful
whether the result of it would be favourable to the
Ministry. M. FRANCIS CABELLO, fbrmerly a Minis-
ter in a Progressist Cabinet, died on the 7th. An
aide-de camp of the 13ty of Turas had arrived in
Madrid on a mission to the Government. The Epoca
says that the QUEEN has conferred the title of Count
on M. SALAMANCA, to recompense him for his ser-
vices in forming the railway from Aranjuez to
Madrid

MADRID BOLSA, FEB. 12.—Three per Cents., 34k ;
Five per Cents., 141. Exchange on London, 50 60
paper.

We understand that her Majesty has been graciously
pleased to signify her intention of honouring the Theatre
ROyal, Haymarket, with her presence this evening.

be the case on every occasion that he has brough t
forward a Budget. He might have learned a more
correct mode of calculation if he desired to learn, but
he does not wish to be taught. An under-calculation
of the revenue and a❑ over-estimate of the expendi-
ture are convenient modes of escaping from the im-
portunities of those who are seeking relief from their
difficulties, and of devoting larger sums to his favourite
object, the reduction of the national debt (! ! !),
than he would venture to apply if he re-
vealed the whole truth without fraud and with-
out cancealnaent. Last year he thus allocated 750,000/.
of his anticipated surplus of 1,500,0001., the residue
being applied to the abolition of the tax on bricks
and the modification of the stamp-duties. It now
appears that the probable surplus on the sth of April
will be no less than 2,521,0001., and that the sum
applied to the reduction of the national debt during
the past year has been no less than 2,330,000/. In
one part of his speech he expresses a hope that he may
be able topsy off a nearly equal sum in the present year
while in another he allocates 1,000,000/. of his esti-
mated surplus to the same purpose. There is a pal-
pable inconsistency in this, that shows that in this
one respect Sir CHARLES WOOD is determined to do
more than he will dare to announce—that it is
but another sop to the golden idol, before which he
has already sacrificed his character as an honest and
consistent statesman. The surplus fur the present
year is estimated at 1,892,8291., but no allow-
ance is made for the additional revenue that will be
obtained from the visitors to the Great Exhibition.
Sir CHARLES supposes that there will be a falling off
in the Excise. Now, without laying claim to any
extraordinary powers of vaticination, we venture to
assert that there will be a considerable increase, owing to
the consumption of exciseable articles by our numer-
ous visitors. There is in this respect, therefore, a
gross suppressio Teri, utterly unbecoming a Minister
and a gentleman, more especially as we believe it to
have been put forward for unworthy purposes.
The income-tax is to be continued in all its naked
enormity. The merchants, and traders, and over-
toiled professional men, are still to be subjected
to as heavy charges as the fundholders and land-
owners on their aecumulated and realized property.
It is in Schedule B, and not in Schedules I) or E,
that he would give relief if possible, and which he in-
timates is still open to discussion. Indeed he treats
the loud and general complaints on the oppressive, un-
equal, and unjust mode of assessment with a degree
of supercilious insolence that may well excite the in-
dignation of the aggrieved parties. He emphati-
cally declares that "good arguments may be adduced
for exceptions and allowances in every schedule,
except, perhaps, that of D, but for the maintenance of
that (he asserts) we are pledged to the fund-
holder !! ! " He forgets that he was himself once
one of the most strenuous opponents of this infamous
impost, and he shows how totally different his views
are on the subject from the community in general.
His pretended abolition of the window duties
will not deceive those whose hopes have been so
strongly excited during the past month. The tax
will henceforth be levied under a different name
but,

" The rose by any other name will smell as sweet,"
and to all intents and purposes it is but a reduction
of one-third of the duty on existing houses, while a
new class of houses, heretofore exempt, will be
brought under the burden. The other points in
which it is proposed to give relief are on coffee,
on timber, and on seeds for agricultural purposes,
while the expenses of pauper lunatics are to a certain
extent to be transferred to the Consolidated Fund.
There will also be a reduction in the sugar
duties, but for that there are no thanks to be given
to Sir CHARLES WooD. The slave-grown coffee
will undoubtedly be benefited, and that will,
no doubt, be a consolation to those who have
already submitted to such considerable sacri-

TIIE SHARE MARKETS.

BRITISH RAILWAYS

Id. 1 Nominal Prices.

13% to 13N.
3i - dis.

1% 1 5%
'3i -

6 1 )4

10 2834
10 27

[5 i 8%
[5 i 7

1754 117
SO 1214
[0 b•

N ..
15 ,21

1 di%

- 1 p.

- 2”4
- 23

p xd!
8 pxd

34 -
2i -

3% ix
15 1
2 N
io 7%

13 4 14
3 4 par

Lo I ism

10 63
10 56
13 5

6N -

17%
I2X
6

22 dis.

34 P
% P

64
stl
7 p

414 - 4

10 Ifq.4
IS 104
6 2%

su I ..

13 132

17X
64
11%
13%

i 0 41

14Nxd
3i

18%
6yi
1114,
13%

) 91 —92 id
r 1.3 i —IU dls. ad
) 102 104
i 51 —53
t% 23 —24

50 73 —75
13 4 7% 8 p.
IN 29 —31. p
)0 59 —6O
15 10X dial
l l 7 7 dis.
6 1% 1 Ms.

130 - 128%

514
i 0 96% 97% xd,
i 0 15► d —15 N..

9 33; 2cdis.
l 7 ' 3% 3dls.
5 i % % dis.
9 1 —1% p

[5 • -
6 3! •••
7% -7%

98 -99

9 1834 - n
50 57 -60

i 0 147 -60

)0 136 - 139
15 4, 1114 - 11%
!O 24 -25

134 —131%
—6% p.
6 —634 p.
3 p.
89% 90%
334 dig.
4 3 die.
2y, -2% p.

Business done
to-day.

13%
34 cu.

3% %

BG% 874 863,
IN
IN 11%
5% %

20% l

7%

ID
% P

11% 3'

18% 19
14% % %x.d

3b %
N

.. - ..
15 -16

17 18 177(i
6%
11% 5C
13% %

e• ..... e•

15 .. -g.
7% .. _..

5% I 3% 334 at,.

/0 33 -35
15 13 -14
i 0 11%-1Y
2 %- % P

[90%2E4
90% itO 91%

58 595( 58)4%
14%
4%

2 0; au— Ms.
X, I 62%
)0

1.5 to —14 N
33 —35

123 - 130

131%

96% x. d
15% 34 34

• • ... • •

98 % 98

[131%
183% 134%
23 Si
18

89% 59

1%
(344,
I% 34% 354
136 %
11%
24, .4

61% 2 1%
19%
34

9}4 %
5 [ION
19% 11 ex d

18% 19 li

21%
7J $

18 17%
10%

5% 3/4% dia.
4% % Ms.
10% x.d

12)
13%
3%
1734,

J 6 % 5X 6M

24% %

43% % 3i

15% %
7% M

24% %

9% 9 •x.d

3% 3
12

8%5 %
15 147

104 10
10

MONEY and COMMERCIAL NEWS.
CITY, 7'14'0 0 CLOCK.
The sales of Cotton at Liverpool yesterday were estimated
at 3,500 bales, comprising 2,500 American, '2OO Pernam and
Maranharn, at Bd. to !id.; 250 Egyptian, at lid. to 9irl.; 500
Surat, at 4id. to Sid. ; and 60 Sea Islands, at Is. lid. to
Is. 2d. per lb. The market was flat, at previous rates.—
Railway Shares were animated, and the market closed very
firmly.
The Timber and Coffee interests are those only in the com-
mercial world who benefit by the proposed changes of duty,
and, accordingly, other articles will be left to the ordinary
influenceof supply and demand. The consumption of Sugar,
however, may increase if Coffee gets into favour, and that of
Tea decrease.
Regarding the inter-Oceanic Canal, the accounts by the
American mail are very satisfactory. It would appear that
four distinct surveys of different routes had been made by
the corps of engineers in the employ of the company, and
that the last one, which has been determined on by the
company, offers every facility fur the construction of a grand
ship canal, at an expense far less than was anticipated when
the company commenced operations. According to the
terms of agreement entered into with the chief engineer,
Oscar W. Childs, well known by the New York community
for his connexion, in his professional capacity, with some of
the great internal improvements of the state, that gentleman,
with a corps of able assistants, sailed from dte city named in
July last, and immediately on his arrival in Nicaragua en-
tered upon the duties entrusted to him. The result is that
the survey has been completed, an excellent route decided
upon, and in a short time the work of the digging will be
commenced, if indeed it has not been began already. It was
first supposed that the terminus of the ship canal would be
at Realejo ; but a shorter, a better, and a less expensive
route has been decided upon.
This company are engaged in another project, which,
like the other, is of great importance, especially
to the United States. 'They are constructing a com-
munication between the Atlantic and the Pacific,. for the
transportation of passengers, viti the San Juan River and
Lake Nicaragua, to the Pacific. The San Juan is obstructed
by rapids and rocks, which up to this time have rendered it
unnavigable. It has been ascertained, however, that the
rocks can be removed at a comparatively trifling expense,
and that the rapids can be overcome by the steamboats capa-
ble of running at a speed of 12 miles an hour. A competent
engineer has been recently engaged to remove the rocks by
blasting, and it is expected that in a short time he will have
succeeded in removing them. Steamers are ready, or
nearly so, to be placed on that river and on the lake, as well
as between the terminus on the Pacific and San Francisco.
Within sixty days the company would be prepared to con-
tract for the conveyance of passengers between New York
and San Francisco, by this new route.
At Amsterdam, on the 16th, Stocks were buoyant. Dutch
Two-and-a-Half per Cents., 57 9-16ths. Spanish Bonds
were in request.
In the Frankfort market, on the 15th inst., Austrian
Metallics were 751%; and Spanish Three per Cents., 33 1-16th
to

There has been a very flat market again for Public Securi-
ties, and the transactions have been all in the direction of
sales, the idea being more general that the Bank of England
may possibly advance its rate of discount on Thursday. Ve
scarcely anticipate this at present, but it is positive that
money has become more in demand in the Stock Exchange,
and probable that the chief cause is the necessity of provid-
ing the means of taking up Railway Shares. The provincial
bankers are stated to be acting cautiously, as
it appears the Bank of England is suspicious
that accommodation bills are circulating too freely
in aid of railway speculations. As far as com-
mercial business is concerned, we do not believe it has
been so far extended as to cause any immediate ex-
tension of the demand for cash, but now the Budget is an-
nounced greater activity may ensue. Exchequer-bills
have further declined, and are 495. to 523. premium. East
India Bonds have been 60s. to 625. premium. The New
Three-and-a-Quarter per Cents. have realized 98% to
and the Three per Cents. 965/q to 97%. Consols opened
this morning at 96% for Transfer, but have rallied
since to 9614 A. For Time they are 96A %. The
Budget has not produced any sensible effect, but there
is of course satisfaction expressed that the Chancellor of
the Exchequer means still to favour the moneyed interest
by buying up the debt. The views of fundholders and the
industrous classes, as observed yesterday under this head,
are frequently opposed, and in this case will probably be so
again.

The Foreign investments partake of the flatness of Con-
sols. Spanish Five per Cents. have been 19% 3/4, and the
Three per Cents. 37% to 38. Portuguese Four per Cents.
are 33%. Mexican Bonds have been 33 to lA, and Buenos
Ayres, 55. Equador Stock is at Dutch Four per Cents.
are 91%.
Railway Shares have gone back a little, and business is
more restricted, though still comparatively good.