The Sun.
London, England, 1867-04-18 00:00:00

ALINING MARKET.

THURSDAY EVENING.
More activity has prevailed in the Mining Market,
and there is an increased demand for Prince of
Wales, Chiverton Moor, Great Retsllick, and West
Chiverton. Annexed are the latest prices :
Chiverton Moor 5l 6 Marks Valley 4t 41
Chontales Gold
Clifford a
Ama Igamato North Treskerby
East Basset
East Ca
m Bre
East Caradast Lovell on Tincroft
West Seton l3O 133
East Russell
East Wheal Grenville 21 2t Wheal Basset —
Great L' °
Gr "Y 171 18 Wheal Chivertoa ... _
eat Retallick
Great Wheal Var... 18 19 Wheal Seton 97/ 1021

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
3 Der (Jew. Consols
89.
„ Do. Account, May 9 9l * 90i i
0 per Cent. Reduend
x,,New 3 per Cent B9
I
'IleW 21 per Cent. Jan. 1894 —
Do. 5 per Cent. Jan. 1873 —
Annuities 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April \BB5 Dh
„ o (Red Sea Tole6raph), Au,., 1908 —
gacequer Bills, £l,OOO, a and 4 per Ct 25 pin
Do £5OO — Pill
Bank of England Stock. 6 per Cent
INDIAN GOVERNMENT SECURITIES.
Itulladi Stock, 101 per Cent., AprillB74 —
Do. Li.ccouut.

Do. 5 per Cent. July, 1880
Do. 4 per Cont., Oct. 1888 .94f
Do. Certificates —
Do. Enfaced Paper 4 per Cent —
Do. 5 per Cent., Jan. 1872
Do. 5i per Cent., May 1879 lOB f
Do. Deb., 5 per Cont., Aug. 1873
Do. Bonds, 5 per Cent., £l,000
Do. under £l,000
FOREIGN FUNDS—CLOSING PRICES.
Arpntine Republic, 6 per Cent —
Auitrian Bonds, 5 per Cent, 1859
Bratilian 5 per Cent —
Do. 4 per Cent., 1852-58-60

go: 1863
Do. 5 per Cont., 1865
Do Account 7l}
Do. £lOO Bonds _
Bnenos Ayres 6 per Cent _ —

D J '2 per Cent. (Deferred 3 per Cent.)
o,ilian 6 per Ccnt —
Do. 41 per Cent —
00. 6 per Cent A .
Do. 71 B
Do. n 1867
Do. 77 Scrip, £2O paid 51 41 51 dis
G it mldim, 6 per Cent.
Inba, 6 per Cent.
Dinish 3 per Cent., 1825
D. 5 per Cent., 1861 —
D innbian PrincipalitieF, 7 per Cent
Do. Do. 8 7, 1867 64
Do. Do. Scrip, £2O paid dis
B plador New Consolidated, 1 per Cent —
egyptian 7 per Cent —
Do. Second Issue -

Do. .£lOO Bonds
Do. Do. 1864 79} 9
Do. £lOO Bonds Bli 801
Do Government Railway Debentures 79f 80
Greek 5 per Cents., 1824-5, ex Coupons
Do. Account

Do. Coupons
Do. Account
G latemala, 5 per Cent . —
1 alian 5 per Cer.t 1865
..._ —

Do, Account
Do. Maremmana Railway —
M ,xicar. 3 per Cent —
Ditto for Account
Dn. 1864 —
Do 6 per Cent. Anglo-French —
Viontevidean C per Cent..., .. —
kloorish Imperial 5 per Cent
New Granada _..
Do 3 per Con —
Do. Deferrod
Do Laud .larra,nts (hectares)
Pe -uvian 5 per Cent 1865
Do Account 674
Do 44 per Cent., 1865
Do 41 per Cent. (Uribarren)
Do 44 per Cent., 1862
Do Account -
Portsguese 3 per Ct., 1853, '6, '7, '9,'60,'2,'3 401 40
Russian 5 por Cent., 1822, .£ Si -
Do 41 per Cent. 1850
Do 44 per Cent., 1860
Do 3 pm Cent., 1859 —
Do 5 per Cent., 1862 874 4
Do. 5 per Cent., 1864 864 4
Do. Anglo-Dutch, 1866 844 4
Do. do. £6O paid l4 2 die
•3 ardi u i a n 5 per Cent
Spanish 3 per Cent ...
Do Account
~,,,,,,,,
Do New Detested —
Do. Account
Do Passive —
Do Accvant 204 4
Spanish Cert. of Coup not funded —
Do Account
Swedish 4 per Cent. —
Do. 44 por Cent. 1864
Do. Scrip, £6O paid
Curkish 6 per Cent. 1854 —
Do. Account
Do 6 per Cent. 1858
Do. Account
Do £lOO Bonds
Do 6 per Cent. 1862
Do Account 514
Do .£lOO Bonds
Do 6 per Cent., 1863 —
Do 5 per Cent., 1865
Do. Account
Do. 6 per Cent., 1865
Do. 4 per Cent. Guaranteed lOO4
Venezuela, 3 per Cent.
Do. 6 per Cent, 1862 194
Do. 1861 -
Ditto 11 per Cent.
Dividends on the above payable in London.
Austrian, o per Cent., Ex. 10 Florins
Belgian, 44 per cent Ex. 251
Dutch 24 per Cent. Ex. 12 Gail
Do. 4 per Cent. Certificates ....
French Rentos, 3 Der Cent., Ex. 2M.
Italia), 3 per Cent: 1831, Ex. 2sf.
Do. Account —
THREE O'CLOCK.
Consols, Money 904 4
Do. Account

The Purchase System in the Army.

Sir Charles Trevelyan has published a second edi-
tion of his pamphlet on the purchase system, with
the following new preface :—."As the commissioned
ranks of the army are based upon purchase, the non-
commissioned and private ranks depend upon a sys-
tem of recruiting calculated to attract scamps and
repel respectable men, and upon flogging, which was
re-enacted in 1859, for the special purpose of keep-
ing together an army so recruited. Flogging has just
been abolished as a punishment applicable to deser-
tion; and the recruiting system is so entirely opposed
to the morality of this generation that it cannot long
survive, now that public attention has been directed
to it. There is therefore hope for the future. Old
things are passing away, and the army must be con-
formed to the actual state of society. Lord Grey
showed a just appreciation of the subject when he
said, many years ago, that he hoped to live to see the
day when the most serious punishment that could
be inflicted on a soldier would be that he should be
dismissed the service. This is the true test of the
self-supporting healthy state of a voluntary army.
When this point is reached our difficulties will be at
au end, for the 10 per cent. who are the sole cause
of weakness, waste, and discredit, will give place to
a like proportion from the respectable and educated
classes, and the British army
i
sion for every part of the British
cl will
m becomem un
it
ya. plrvo fheesn-
I made the statement relating to the great extension
which has been given to the purchase system since
the Russian
fund Russian war, through the medium of the military
, I was not aware that a discussion had
taken place on the subject in the House of Com-
mons, in which General Peel
character of these transactions
ewx
tohs ead t h
lucidityeg en tat innde
force which ought to have brought them to an im-
mediate close. All that passed on the occasion will
be found in the appendix to Ix this edition. If the
proposals I have submitted for consideration were to
be adopted, the current of promotion would flow
with a certainty and steadiness,
as well as with an
equal application to all officers, according to their
services and qualifications, which are totally want-
ing in the present system. The different sources
of promotion would be :--Invaliding on half-pay
previously to 20 years' service. 2. Invaliding
on full pay after 20 years' Service. 3. Compul-
sory full pay retirement to the maximum age
to be fixed for each rank. 4. Voluntary full-
pay retirement after 30 years' service. b. Volun-
tary retirement, without pension, previously to 30
years' service. 6. Death vacancies. 7. Military
and Administrative Staff Corps, Depot Battalions,
Staff Officers of Pensioners, Army of Reserve, and
Militia. Whatever form the militia and army of
reserve may ultimately take, they must be officered
to a great extent from the regular army, whereby
a wide field of employment will be opened to officers
and non-commissioned officers who are incapacitated
for foreign service, by health or family circum-
stances, and the vacancies thus created in the regu-
lar army will be filled by promotion. There is ho
purchase in the French army ; but the limit of age
works well, and many of our colonels see their
juniors in the French service made generals, al-
though they cannot themselves hope to be promoted
for several years. Owing to the habit which pre-
vails among our wealthy families of serving in the
army for short periods, to the greater liberality of
our retired allowances, and the much larger pro-
portion of collateral appointments open to our
officers, the British army will, when its regulations
have been properly adjusted to this object, have an
amount of promotion very superior to any which the
French army can offer."

LIVERPOOL COTTON MARKET.
This Day.
Market opens quiet. Sales probably 6,000 or
7,000 bales.

A curious difficulty arose on Monday, in the Court
of Common Pleas, where Lord Chief Justice Bovill and
Justices Keating, Byles, and Smith were sitting in banco
to hoar appeals. One Moffatt had sent a mare by the railway,
which was strangled during her transit in a horse box. He
brought au action against the company on the ground that
the mare had been improperly secured in the box, and re-
covered damages. Against this verdict the Great Western
Railway Company appealed. As Mr. Justice seating had
tried the case, he felt bound to withdraw from the Bench,
as did the Lord Chief Justice and Justices Byles and Smith,
who were all three shareholders in the railway. It became
necessary, therefore, to defer arguing the case until Mr.
Justice Willer could sit with Mr. Justice Keating to hear it.