The Sun.
London, England, 1866-10-20 00:00:00

UNITED STATES DEBT.

We extract the following from the .2Velo York Tribune of
the 28th ult. ; it serves to show the persistency with
which Mr. M'Culloch is carrying out his views with the
intention of as early a return 48 possible to specie pay-.
meats

It is understood from the annexed letter, that after the
current week a new issue of 5-20 Bonds will be made in
exchange for August 7-30 Notes.
Treasury. Department, Washington,
Sept 26th, 1866.
Sir,—Yours of the 25th is at hand, and contents noted.
The June and July 7-30 s are not at present convertible.
Those of August, 1864, are convertible on the terms de-
scribed by you,* except that the 5-20 Bonds to be issued
herearter' will bear interest from July Ist, and not from
May Ist, 1866.-1 ant, Sir, very respectfully,
To J. Thomson, Esq., VV. HARTLEY,
Ntßank, Assistant Secretary.
No
This will make the now 5-20's, with interest payable in
tti.2a,l wCruaririe_snteryout,New
York.
January and duly, cost the holder of 7-30's bought at 106
—lO7l paying as be will on each $l,OOO, $5.80 difference
of interestoe against 1081 for 1865'sto-day. By this issue
the department equalises its interest account, and instead
of hoarding gold for six months, will be able to restore to
commerce, through frequent payment of interest, the gold
absorbed by customs duties. The new issue can also be
conveniently used to fund the 7-30's of the second and
third issues, and so prepare the way for a speedy and
permanent resumption of specie payments. No resump-
tion can be permanent which loaves the department iu
danger of being called upon to pay in currency the later
issues of 7-30 notes.

The market in London for American Securities has
been characterised by some fluctuations of importance,
settlement E 8 to
1 ex coupon.
bi-u just concluded has developed
5-20 bonds having been done at varying prices from 70
t o :211 closing
hfli
yn a l I
a great scarcity of Erie Shares for delivery, and as much
as $1 to $ll back has been paid for the loan of them for
the next fortnight, This scarcity has been caused by the
litre abatitint df dertifldatdei fdectilly shifted td #e*
York, where they have been wanted for the purpose of
influencing the election of directors. They have advanced
during the week $3 per Share, closing in demand at 501
to 61,
o.llt.tita lilady; itli hut
doing in them.
A considerable business has been done in Atlantic and
Great Western Consolidated Bonds; persistent efforts were
made to force down quotitions; Ti they gave way from
46 to Id diini &lily* hut haveLdzaay,
at 40/ to 411 ox coupon. It is satisfactory to note the
regularity with which the-couPens of this Company have
always been mot; those due 15th November next on the
Certike.tes df 11,,Pontlire tire i"--'fidt44
OPPiCIAL TRANSACTiONB FOIL THE WEEK.—United States
6 per Cent. 5.20 Bonds, 1882: Thursday, 714 1 1 a ;
Friday, 721141; Saturday, 701 4; Monday, 70117 C 11 y;
Tuesday, 681 1 8 / x.c.l Wednesday, 684 41 x,c. Virginia
5 per Cent. Sterling liCtltie t ThurSday,
Virginia 6 per Cent. Dollar Bonds: Thursday,
Friday, ; Tuesday, 44; Wednesday, 45. Atlan.
and Gt. Westn. (N. Y. Sect.) Ist Mrt. Bonds, 1880
Friday, —; Tuesday, —; Wednesday, —, Atkin. and
Gt. Westn. 2nd Mrt, Bonds, 18811 Friday,
Monday, —. Atlan. and Gt. Westn. (Penns. 'Sect.)
2nd Mrt. Bonds, 1882: Thursday, —; Friday,
Atlan. and Great Western Consolidated Bonds, 18951
Thursday, 45 41; Friday, 49 I ; Saturday, 414 2 404
Monday, 42i 40 ; Tuesday, 3941 x.c. Wednesday,
404 1 1 401 x.e. Erie Shares, $lOO, all paid ; Thursday, 48
Friday, 47 8 ; Saturday, 491 501; Monday, 52 494 9 ;
Tuesday, 484 4 94 ; Wednesday, 504 1. Erie
Shares, 6 per cent. Convertible Bonds : Friday, —;
Tuesday, ; Wednesday, —. Illinois Central 6
per Cent. Bonds of 1875: Thursday, —; Monday,
Illinois Central 7 par Cent. Bonds of 1875: Tuesday, —;
Illinois Central Shares, all paid : Thursday, 784;
Friday, —; Saturday, 781 ; Monday, 78 1 ; Tues-
day, 79 8} ; Wednesday, 784 41. Philadelphia and
Erie First Mortgage, 1881: Thursday, —; Saturday, ;
Tuesday, —. Philadelphia and Erie First Mortgage,
1881, with option to be p Lid in Philadelphia : Saturday,
—. Pennsylvania Second Mort. Sterling Bonds, 1875:
Tuesday, —. Pennsylvania Second Mortgage Sterling
Builds, 1875.: Thursday, 82 ; Saturday, 82,

* That is, allowing all accrued interest on the 7-30 s, and
charging accrued interest on the 5-20's from July Ist, to
day of conversion, both in currency.

ARRIVAL OF PASSENGERS•

Br THE JAVA, AT LIVERPOOL, OCT. 14.—Mr. and Mrs.
J. H. Small, Miss E. Stubbins, 51r. and Mrs. J. S. Loyd,
Miss R. Lloyd, Rev. William Brown, Miss M. S. Sedgwick,
Sir Henry Holland, Miss J. Seligman, Mr. and Mrs. T.
Cooke, four children, infant, and servant ; Mr. and Mrs.
E. M. Matthews, Captain Fearon, Miss J. C. Connell, Mrs.
Strachan, Colonel Moffatt and servant, Mr. and Mrs. T.
Conklin, Mr. and Mrs. Robton, infant, and servant, Mr. and
Mrs. J. Tracey? jun., Aar. Charles Tracey, Bliss L. Death