The Sun.
London, England, 1856-12-17 00:00:00

SALES OF OLD STORES.

(From the Timei.)
As it seems decided by the judgment of every
man who combines sense with spirit that England
must remain at all times well armed and equipped
for war, we ought certainly to carry into the
examination of military and naval accounts some
of that discernment and painstaking which are
commonly applied to oivil matters. If our habitual
state is that of armed preparation, we ought cer-
tainly to examine the proceedings of the War
Department and the Admiralty with the same
discrimination of detail that we watch the

working of the Poor Law or any Othe;:domestic
institution. Hitherto the financial part of the
military system has been sheltered by the very
violence by which the whole system has been
attacked. The economists were still more peace-
men, and, in their ardour for general disarma-
ment, they disdained to descend to details of
expenditure. If the Horse Guards and the Ad-
miralty, Woolwich and Portsmouth, ought not to
exist at all, it was merely superfluous to inveigh
against any shortcomings of those establishments.
When the millennium should arrive of disbanded

regiments, and frigates Wined into emigrant
vessels, all minor evils of waste and in!.

capacity would have passed away, and it was use-
less to have thought of these when the great day
of deliverance from the whole system was at hand.
So seems to have thought the Peace Party,
which has furnished as yet our only military
economists. But this enthusiastic policy is a thing
of the past, and we want now something more mo-
derate, clear-headed, and professional. It is now
decided that the country is to have all that it had
before of warlike organisation, with much in addi-
tion that is new. Permanent camps and concentrated
armies, military schools, frigates as large as line-of-.
battle ships, cannon of inordinate size, rifles which are
the perfection of science and skill, are among the
new requirements of our defensive system ; and all
these will have to be paid for. The question is
whether they shall be paid for economically or
with an utter disregard of expense. There is
therefore, it will be seen, a field for the disciples
of the economical school, but its, scope is limited,
and to make effective use of it will require more
attention to technical details than has hitherto been
thought necessary. It is of no use for a member
of Parliament to rise in the next session and de-
nounce military expenditure in tie gross, nor will
it avail to point out that a seemingly large sum
has been spent on what to the public appears
a matter of small importance. The country would,
however, be greatly indebted to any independent
man who would study the subject, speak boldly
and yet temperately on it, and show how
those defences which the nation thinks necessary
can be made effective for a less sum than is called
for by the respective departments.
The conclusion of a peat war is necessarily a
time of waste. The world is glad to escape from
the drain caused by hostilities ; it looks on the
money raised for the war as lost, and hardly cares
s
to ask what has become of the immense material 0'
sustenance or destiuction that was laid up for the
campaign which never came. The public think.:
little of the screw line -of - battle ships ; .
never asks where are the floating batten°,
the wonders of which a year ago were in every
body's mouth; the fleet of gunboats, with their
fanciful names, has almost passed away frl
memory. The army, with its foreign Legions and
its Turkish Contingent, is dispersed, and only tpe-
i
profession knows much what has become of t•
this be the case with such tangible national
entities as regiments and fleets we cannot wonnel
that horses and mules, carts and waggons, beef°
pork, wine, preserved vegetables, cocoa, hef'd
straw, and all the materiel of a campaign, ah°ll,o
be utterly forgotten by the public, which has `.a.
immediate use for them. Yet how large
part of the 52,000,0001. sterling, at which the •
war expenditure of the year ending March,l6°_,
was rated, must have been spent on these commits
place objects ! What has become, then, of all s
mighty stock,. which was to carry us across Pereeal
kop or into Georgia, to Nicolaieff or Tiflis ? S°stin
of it is, of course, irremediably lost. Our huts :.,es
stand upon the bare plateau of Sebastopol; 11
and mules wander by thousands along the alleyhome
of Baidar. But much has been brought t
again ; and what has been done with it ?
the Government advertisements for the last turf
cc sale
months answer. Under the heading all
of Stores" dealers are invited to bid RI
such
those articles which were sent out in war.
haste and at such an expense to the seat of
Meat, coffee, biscuit, rice, clothing, bedding, has
ness, saddles, waggons, carts, fur coats aincl,..acxaPes:
buffalo robes, waterproof covering, P; es
spades and shovels, nails, preserved indeaos; ores
served vegetables—in short, every being
for the use of troops in a campaignkieintlliteowdealers
sold off at merely nominal prices to Now it
who surround our arsenals and dockyards.ing public
cannot be denied that we, PaYseems most
have a right to some details of whatof expla-
wanton waste. If the thing be capable . can
snhaotiwont,halett
it
tt bise ebxepttlearinetdo. the tax
store till they is!,
price than to keep them selll authoritiestthheesei
that many o'.
hi n
g things
a ti a
nz
be satisfied. But it certainlyti
hey
wanted, let, the proof be givienns,eaenmds every one Walt
were likely to be
the articles would tastun 1 t
waggons, and saddlerYi
wanted again. Carts,
tools, tin and liable to immediate dr
copper
not liable
tents, boots, an
"
waterproof fabrics are
struction, and,
if we are to
us
us. It was the want of
keep ourselves re.a
sl
is
for war, naturally seem the kind of articles will h
we should have by Or t
a
which rendered the army so "en i
d osveable" at the beginning dos,
of the war, fu
irnhctanimng not be doubted that if we be engaged in
li
tilities again the first call will be for such aPPT,
auces of a campaign. There is therefore an asr;
parent impolicy in making away with thtehis
things which requires to be explained. nh,,t aDy
is not all. Unless we be much misinformed, "cod
of these articles are even now in constant use, if it
have to be purchased by other depurtmente•
be correct that while the War-office was 2esuld
preserved vegetables for any trifle they vr-anse
fetch the Admiralty was buying the "WY :sins
articles at the full price, the fact is certainly aua
gular instance of administrative incapacitrus of
will bring conviction to those most incredulous
official shortcomings.
We trust, therefore, that in the next sesels°,./lsrts'sf
Parliament the disposal of the vast military woo
collected for the campaign of 1856 will form
subject of inquiry. The first cost of these "iffe
must be represented by millions. Let 11 'roots
formed what has been done with them, how.s.ed for
remains, and what sums have been recoe,lv The
the articles which have been disposed is_• bur-
scale of modern warfare is too great and military
dens too heavy for the country to allow, lg"r"oss.
expenditure to be looked at only, in a ins-
There should be some public audit have
mense accounts. Let the economists_ran
been accustomed to wage war againsteolin
to a u°,-1,4
d
deal vi"
coner and Gold Stick turn their attenthiem
more worthy of their prowess. Letounds, with el-
millions instead of hundreds of
an cares seri"
penditure which weighs down
the nation instead of trifles whi
ains, a little study,.
ously about. It will require p
the
subject is well
a little specific knowledge, b t
taind question is, how
worthy of all these. The era
rations with prosPa:
e.anPndo
malmost crushes
are we to unite warlike prepa
eace ? artstan of p Our position
rity and progress in the
°wet'
sding array and a p
yr_ 0
unhappily necessitates a
a great benefactor _
ful fleet ; and he will h
these defences entail.
shall teach us how to alleviate the burdens whit

TO THE EDITOR OF THE TIMES.
Sir,—The system acted upon by the Government
from time immemorial, I believe, is this. To fraine
the estimates for each article for the year, get the
amounts voted by the Commons stabs contracts
to absorb the amounts voted, and end of the
year to sell by auction, perhaps for a tenth of the
cost, whatever may remain unused of each artielea
to clear the way for fresh estimates, votes, a°
purchases of articles precisely similar to those
sold. I, a
I lately learnt from a contractor that he ..t1
made purchases at a Government sale, and aftr-
wards taken contracts and delivered to the GoVer,ll:3
merit the articles so bought at five times
tt`
price paid at the auction.
Those sales are 'matters which I have observel
for many years, and have always been astonish° ,
that no public notice should be taken of thel3lol
and notice, unless by influential people, Would
course be waste of words. at'
I congratulate the country upon finding they° yob
ter noticed by the Times, feeling satisfied thatril,°o
a very great saving will be effected by the rera
of a most absurd system.--I am, sir, your obeale'
servant, Cisqs'
Loudon, Dec. 16.
ort....:lrealcnammnseam...a........M.l
FATAL SPORT.--An inquest was held last eire,silt
before Mr. S. F. Langhain, deputy-coroner for ‘Y sof
minster, at the King's College Hospital, on the bodY s.
Christopher Collar, aged eleven years and three mnth,tb
On the afternoon of the 26th ult. the deceased Was !In
his sisters, in a room
the tea having been sent down as usual from the kitnirtrl
on the second floor, in a squire box, fitted UP sql e
at the back of his father's fiO„'
of his sisters to get into the bth be might give 11.81.0
pulley, chain, and weight. The deceased persuaded ss,
ride, but the little girl pingpuln out suddenly, as
cross
fright, the lox ascended with such velocity to a cfro f
beam that the chain snapped, and fell upon the be
the deceased, tearing off a part of the scalp. 'Verdict
" A midental death."

Y MA

AND

KET

.COIYINITIMCIAL INTELLIGEN:7I;-i,

CITY, Two o'CLoax.

Accounts from Liverpool state that the Cotton
Market yesterday closed firmly, and, compared with
Friday's rates, prices of all kinds were extreme.
The sales were estimated at 7,000 bales, 1,000 of
which were taken by the exporters, and 500 by the
speculators. The Railway Share Market closed
quietly, and a very small amount of business was
transacted.

Accounts from the manufacturing districts report
increased firmness in the cloth markets and Man-
chester, in consequence of favourable ad vices from
India relative to the import trade, and also to the
advancing tendency of Cotto❑ at Liverpool. Goods
suitable to the Indian and China markets have
been in request, and a large business is in progress.
The Leeds markets are in a very satisfactory condi-
tion, and the inquiry is of an average character.
Wool is exceedingly firm, at late rates.
The meeting of the shareholders of the Commer-
•ial Bank was held yesterday, for the special pur-
pose of appointing a director, in the place of Mr.
Oxenford, whose, protracted absence from this
country rendered it necessary that his place at the
board should be filled up ; but as it was known
that the directors would take the opportunity of
denying the various adverse rumours which have
recently been circulated with regard to the stabi-
lity of the concern, a considerable number of the
shareholders was present. The chairman replied
to these prejudicial statements in a manner which
elicited much applause, and fully restored the con-
fidence of the proprietors as well as the depositors
in the soundness of the establishment. Mr. M.
Hunter said that the Bank had lost nothing what-
ever by Messrs: Fox, Henderson, and Co., that
no application had ever been made to Messrs.
Jones, Loyd, and Co. for assistance, or
in fact to any others ; and that the
Bank of England never sat for two hours in deli-
beration on the subject of lending the establish-
ment 180,0001., all of which reports had been in-
dustriously circulated after the failure of the Royal
British Bank. A vote of thanks was passed to the
Directors and the manager, and the meeting sepa-
rated, fully satisfied with the explanations that had
been offered.

Owing to the increased activity in the silver
market the price of that metal has risen ls. Bd. per
ounce. A further parcel of 10,0001. in gold was
taken from the Bank yesterday, for the purchase of
five franc pieces on the continent.
There is a very brisk inquiry for discount accom
modation to-day, and it is therefore not expected
that the Bank Directors will lowei the minimum
rate to-morrow, and as the succeeding Thursday
is Christmas Day, no alteration will probably take
place this year.
The English Funds exhibit rather a heavy ap-
pearance, and as business is exceedingly dull the
market tends downwards. A few small sales have
been effected, which, together with the further
decline of i per cent. on the Paris Bourse yesterday
have occasioned a decline of about i per cent. Con-
sols have been 931 I, 93i 1, and 93i I. Exchequer
Bills are ls. lower, viz., 4s. to 7s. premium. and
the Bonds are 981. The New 3 per Cents. have
been dealt in at 931 i, and the Reduced 93i i.
India Bonds are 2s. prem.
In the Foreign Market there is very little alte-
ration of importance to notice. Turkish 6 per
Cents. are marked 94i to 95, but have since
been 94i i, and the Four per Cents. 102 i,
being about previous rates, but they are now
rather flatter. Sardinian Bonds are 891. Russian
44 per Cent. Small Bonds, 97i. Danish 5 per
Cents. 103. Dutch 4 per Cents. 9641.
The following are the nominal prices of Foreign
Stocks : Grenada Deferred Bonds, 6 7 ; Mext-
ten, 211 i; Perutian 41 per Cents., 76 78 ; ditto
3 per Cents., 54 6 ; Portuguese 3 per Cents.,
44 46 ; Russian 5 per Cents., 106 8 ; ditto 41 per
Cents., 95 97; Spanish 3 per Cents., 42 i ; ditto
Deferred, 24 1; ditto Certificates, 5i 6 ; ditto
Passive, 5i 6.
There has been very little business transacted
iti the Railway Share Market this morning, and,
with one or two exceptions, prices have rather '
tended downwards. Caledonian, East Lancashire, 7.
Great Northern, North Western, Manchester,
Sheffield, and Lincoln, North Eastern Berwick,
Oxford, Worcester and Woverhampton, and South !,
ruastern have all declined about ss. to 10s. per
Share. Great Central of France, Northern of
Prance, and Paris and Lyons are also at reduced
quotations ; and Grand Trunk of Canada have ad-
vanced about ss.

In Joint-Stock Banks and Miscellaneous Shares
business has been very dull. Commercials of Lon-
don are dealt in at 27k, and Union of London 271.
Canada Land Shares have improved to 120 and
122. National Discount Company are 6, and
London Discount Company si.

4.111-`IBH FUNDS THUS DAY AT ONH d VOL( )
(From the Official List.)

a per Cent. Reduced Annuities "°"'"""' done.
93i
$ per Cent. Consols Annuitieb abut 91i
dew Dor 'Art. k nnities ...............• 93a
1-iodg Annuities, expire sth Jan. 1860
Ditto 30 Years, expire sth April, 1885 lB 1-16 18
hdis Bonds, £lOOO
Ditto nader £lOOO . 2
Consols for Account
£lOOO.

,4:,500
%nail 8 p
Ditto Bonds, 1858, 3{ per Cent 984
RICES OF FOREIGN FUNDS AT ONE O'CLOCK.
arazilian fonds, 5 per Cent. —
3itto Small' lOl
%Ulan Bonds, 6 per Cent lO3
banish Bonds, 3 pez Cent., 1825
bitto 5 per Cent. lO3
Russian Bonds, 1522, E, St., 5 per Cent —
Ditto Small
sardinian Bonds 5 per Cent.
Turitit.b , tonds, fi per cent 95
Ditto Account
Ditto Guaranteed, 4 per Cent.
• enm= -;n the above ,v4131e in Lenecn.
Belgian, •
24 per Cent., ex. 25 francs —
,Ditto 4i per Cent.. ea. 25 francs 96
Match Exciiange, 24 per Cenl., 12 Guilders
Ditto 4 per Cent. Certificates ... 96i
TWo O'CLOCK.

Coneola (Money)
Ditto Account

THE PENINSULAR MAILS.

SOUTHAMPTON, WHDNESDAY, 10.30 A.M.
The Peninsular steamer Alhambra, Captain Joy,
has just arrived. She lay outside Calshot all night,
on account of the fog.
Her lies are :—Gibraltar, Dec. 6 ; Cadiz, '7;
Lisbon, ; Oporto, no communication ; 'Vigo, 12.
She brought 21,489/. . specie, 16 passengers,
and a full cargo of fruit, Wine, &c.
On the 10th 'of December a vessel on shore off
telern Castle, on fire,
'Brazils. with coke and wine, for the
The Frankfort screw steam ship from Liverpool
arrived at Gibraltar on the Ist.
Exchanges at Gibraltar, on the 6th—London,
40.15 14 ; Paris, sf. 29c.
32
Lisbon exchanges—London, 53i to 53 ; Paris,
• Stock market dull.

REDUCTION OF THE INCOME-TAX.—DuELTN, Tuesday. 40
A. highly influential meEti' g has been held, the High 5
Sheriff in the chair, which resolved unanimously to .81
petition
Parliament to reduee the income-tax to 5.1.
1)
Pound after April next.
The Executive Committee have reason to hope that 10
the Queen may honour the Great Exhibition of next
Year at Manchester with a royal visit. The committee 100
are empowered to state that his Royal Highness Prince 100
41bert has expressed his intention of honouring the 100
h°i3ening ceremonial of exhibition in May next with his ;to'
-le RICE OF GOLD.—The quotation of gold at Paris is 20
rabout 6 per mine premium, and the short exchange on 50
T43(1013 is 25.224 per 11 sterling. On comparing these 10(
tea with the English Mint price of 3/. 17s. 104 d. per 50
once for standard gold, it appears that gold is nearly 100
4-10ths per cent. dearer in Paris than in London. By 100
rvices from Ha.mb.,rg the price of gold is 423 per mark, ao
Pid the abort exchange on London is 13•31 per 1/. ster- to
zo
9IZ. Standard gold, at the English Mint price, is there- 25
Ira about 3-10ths per cent, dearer in Hamburg than in 20
London. The course of excr ange at New York on tot
'-4,0_1.1d0n for bills at 60 days' sight is 1094 per cent., 10
Etwuleli, when compared with the Mint par between the
P countries shows that the exchange is slit
t gland ; and, after making allowance for charges of 1 25
slightly against 25
ista,silePort and difference of interest, the present rate , „
no profit on the importation of gold from the i'
\itittecl States. +vis