The Sun.
London, England, 1867-04-16 00:00:00

rially injured. Business remains dull in sympathy with
the weather. Those who have laid in spring goods are
looking in vain for spring. The disappointment is uni-
versal, and as goods in response to orders accumulate on
hand, it is feared that a large surplus will remain unsold.
There was a considerable rise in the middle of the week in
Pacific Mail Steamship stock. The Colorado, after a splen-
did passage from Hongkong to San Francisco, cleared, it is
said, $60,000 by the trip. The Pittsburg, Fort Wayne,
and Chicago Railway earned 111 per cent. The Cleve-
land and Toledo earned 10 per cent. for the half-year, and
divided 6. The New York Central and Erie are inquired
for at higher prices. State Bonds have been dull. Vir-
ginia Sixes were steady. Old Coupons selling at 62, and
registered Bonds :at 351-. It is difficult, judging from
the opinions expressed around to predict the course of the
mark,:t. Opinions are equally divided as to a rise or fall.
The increase of money would lead to the expectation of a
rise, while the contraction of the currency argues strongly
in favour of a fall. It is not unlikely that the ono may
counteract the other and produce a steadiness in quota-
tions. Speculation, bcwaver, is at a low ebb, and the mar-
ket has ceased to Le affected by the strong cliques to any-
thing like the extent of former times.

(From Messrs. Bowles, Brevet, and Co.'s. Circular)

Paris, April 12.
The week just ending has been marked by a financial
panic, which still continues. The Bourse is in a state of
excitement difficult to describe, and on every side little is
talked of buf war. Some believe it near at hand; ethers
think that the Exposition will delay it some months, but
all judge it inevitable. The result has been large sales
and a rapid decline, such as has not been witnessed for a
long time on our Bourse, and which extends to all
securities without exception.

The price of French 3 per Cents. is very low.
The Italian Routes have suffered most, having declined
about G per cent.

The Dollars themselves, after having resisted firmly,
and selling at 8511, have been drawn into the general cur-
rent, losing daily a little ground. They touch to-day the
rate of 828-a decline of more than 2j per cent.
This tendency has no other cause than the now critical
situation of all Europe, and in nowiso indicates any
diminution in the public confidence in the American
Securities.

In Germany and in France there are held an immense
quantity of Bonds of the issue of 1862, more even, per-
haps, than in the United States. Many holders, in the
anticipation of serious troubles and great need of money,
are so anxious to realise that those wishing to buy
hesitate in view of the general state of the market, ex-
pecting to take advantage of still lower figures.
We publish on the other side a new article upon the
important question of the unity of monies. This is
written from the English point of view, and will, we have
no doubt, prove of great interest to our readers.

It will be seen that the writer fully harmonises with
the views of Mr. Beckwith, already given in our circular
of 22nd February, No. 8.

Mr. Behrens proposes, as a starting point, that the gold
coin of each country should be made a legal tender in
the others at fixed rates.

(From E. F. Satterikwaite and Co.'s. Weekly Circular,

April 10.)
Our latest advices from New York by the Africa,
reach to the 26th inst. They report a more active de-
mand for money, but without any material advance in the
rate of interest. The bank returns show a decrease in
the deposits of over five millions, and in the loans of
three-and-a-half million dollars.
Government Stocks were reported slightly lower' in
price for the old Bonds, while the more recent issues were
steady and in request at former rates. Railroad Shares
were neglected, the chief transactions being ou specula-
tive account ; the latest quotations exhibit no noteworthy
changes. Railroad Mortgage and State Stocks generally
steady ; Missouri Sixes had not quite maintained the re-
cent advance, the last price being 95 to 96, or two per
cent. lower. The Secretary of the Treasury had re-
ported that, after a thorough and searching examination
of the currency bureau by the most competent men, he
is satisfied that the report of any over-issue of Govern-
ment Bonds "is utterly without foundation."
Missouri State Debt.—ln our Circular of last week, we
referred to the resumption of payment of interest by the
State of Missouri. From the Copy of the Act recently
passed by the Legislature, it will be seen that all possible
means have been•adopted for the payment of the accrued
indebtedness of the State as well as for regular payment
of interest for the future.

The London market for American securities presented
a very firm aspect up to Friday last, when the fear that
Prussia might be involved in war induced large sales on
German account. United States 5-20 Bonds, which had
been freely taken at 75k, fell suddenly two per cent., and
were sold as low as 731 ; from this, however, there haS
been a slight reaction, but the tone of the market at the
close of business is very unsettled ; the latest quotation is

731 to rt.
Illinois Central and Erie shares have also given way
about $2, but tho lower prices have brought forward
numerous buyers, and at 77 to for Illinois, and 37 to
for Eries ; they are decidedly firm.

Atlantic and Great Western First and Second Mortgage
Divisional Bonds are steady, but the Consolidated Bonds
and Debentures aro again from one to two per cent.
lower, on sales chiefly for Dutch account. _