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

UNITED STATES DEBT.

Wo extract the following from the New 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 as possible to specie pay-
ments:—

-------
It is understood from the annexed letter, that after the
current week a new issue of 5-20 Bonds will bo 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 arc 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
hereafter, will bear interest from July Ist, and not from
W. HARTLEY,
National Currency Bank, Assistant Secretary.
May
ilsto J.
No. 2, Wall-street, New York.
This will make the new 5-20's, with interest payable in
January and July, cost the holder of 7-30's bought at 106
—lO7l, paying as he will on each $l,OOO, $5.80 difference
of interest„ar 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 frequAnt payment of interest, the gold
absorbed by customs duties. The new issue can also bo
conveniently used to fund the 7-30's of the second and
third issues, and so prepare the way for a speedy and
payments. No permanentresump-
tion an
i resumptionae
permanent of specie
which leaves the department in
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,
5-20 bonds having been done at varying prices from 70
to 721 closing finally C 8 to ex coupon.
Th 3 bi-monthly settlement just concluded has developed
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
large amount of Certificates recently shipped to New
York, whore 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 51.

Illinois Shares have remained steady, with but little
doing in them.
A considerable business has been done in Atlantic and
Great Western Consolidated Bonds; persistent efforts were
made to force down quotations, and they gave way from
45 to 40 cum coupon, but have ralliedto-day, closing firm
at 401 to 41j ex coupon. It is satisfactory to note the
regularity with which the:coupons of this Company have
always. been met ; those due 15th November next on the
Certificates of Debenture are provided for.

OFFICIAL TRANSACTIONS FOII TUE WEEK..—United States
6 per Cent. 5.20 Bonds, 1882: Thursday, 714 1 4 4 ;
Friday, 721111 ; Saturday, 701 1 1,1; Monday, 70147 C 1 11;
Tuesday, 684 4 8 4 x.c.; Wednesday, 684 14 x.c. Virginia
5 per Cent. Sterling Bonds : Thursday, —;
Virginia 6 per Cent. Dollar Bonds: Thursday, ;
Friday, ; Tuesday, 44; Wednesday, 45. Atlan.
and Gt. Westn. (N. Y. Skt.) Ist Mrt. Bonds, 188€
Friday, —; Tuesday, ; Wednesday, —. Atlan. and
Gt. Westn. 2nd Mrt. Bonds, 1881: Friday, —;
Monday, —. Atlan. and Gt. Westn. (Penns. Sect.)
2nd Mrt. Bonds, 1882: Thursday, ; Friday,
Atlan. and Great Western Consolidated Bonds, 1895 ;
Thursday, 45 41 ; Friday, 49 ; Saturday, 411 2 40*:
Monday, 421 40 11 ; Tuesday, 3914 x.c. ; Wednesday,
401 1 4 404 x.c. Erie Shares, 9100, all paid : Thursday, 48 ;
Friday, 47 8 ; Saturday, 49,1 501 ; Monday, 52 494 9 ;
Tuesday, 481 4 94- ; Wednesday, 504 1. Erie
Shares, 6 per emit. Convertible Bonds: Friday, _ ;
Tuesday, ; Wednesday, --• Illinois Central 6
per Cent. Bonds of 1875: Thursday, —; Monday,
Illinois Central 7 per Cent. Bonds of 1875 : Tuesday, ;
Illinois Central Shares, all paid : Thursday, 78};
Friday, —; Saturday, 781 ; Monday, 78 4 ; Tues-
day, 70 81 ; Wednesday, 781 41. Philadelphia and
Erie First Mortgage, 1881 : Thursday, —; Saturday, ;
Tuesday, —. Philadelphia and Erie First liortgge,
1881, with cptioa to be p tid in Philadelphia : Saturday,
—. Pennsylvania Second Mort. Sterling Bonds, 1875:
Tuesday, —. Pennsylvania Second Mortgage Sterling
Bonds, 1874: 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.

BY THE JAVA, AT LIVERPOOL, OCT. 14.—Mr. and Mrs.
J. H. Small, Miss E. Stubbins, Mr. and Mrs. J. S. Loyd,
Miss R. Lloyd, BOY. 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., Mr. Charles Tracey, Miss L. Dean,