The Sun.
London, England, 1866-05-07 00:00:00

THE SUN, LONDON, MONDAY EVENING, MAY 7, 1866.

fiscal year, which will end with the 30th of June next,
as prepared by the Revenue Commission for the use of
the Committee of Ways and Means. Customs receipts
to April 1, 1866, in coin, $128,967,375; internal re
venue to April 1, 1866, $243,890,548, miscellaneous,
premium on gold, &c.; $37,183,009, actual aggregate re-
ceipts to April 1, $410,041,232. From the above, it will be
be seen, the monthly average Custom receipts for nine
months were $14,000,000; and the monthly average in-
ternal revenue receipts for the same period, $27,000,000.
The receipts of the Treasury for the past three-quarters
of the present year were nearly $80,500,000 more than
those for the entire previous year. The estimated receipts
for the remaining quarter will, it is believed, be sufficient
to bring up the revenue for the year ending June 30 next
to $501,000,000, or nearly $171,500,000 more than these
of the year previous.
The following table shows the exports of specie from
the port of New York to foreign ports for fifteen years,
from January 1 to April 7, 1866, and for the correspond-
ing period in the other years :

1866 $5,754,795 1858 $9,790,148
1865 5,009,710 1857 6,735,996
1864 10,420,231 1856 5,058,343
1863 16,195,788 1855 6,182,159
1862 11,065,050 1854 5,414,646
1861 2,333,136 1853 3,432,025

, .
1860 5,208,400 11852 7;177;121
1859 11,088,381

QUOTATIONS OF THE STOCK EXCHANGE.
Aritu. 20.

U.S. 6s, 'Bl coup, 1051 1051; U.S. 6s, 5-20 rg. '62, 101;
U.S. Cs, 5-20 c., '62, 1041 1041 ; U.S. 6s, 5-20 c. '65,
1041 ; U.S. ss, 74 c., indorsed, 93 ; U.S. ss, 10-40 cou.,
931 931; Treasury 7 3-10 s, Ist series, 1011 ; 2d series,
1011; 3d series, 1011 1011; Missouri 6s, 741 ; N.Y. 7s,
B'y. L'n., 1011 ; Louisiana Cs, 97 ; N. Carolina 6s, 831 ;
N.Y. Central 6, 'B3, 91 ; N.Y. Central 7s, '76, 101; Hud-
son Ist mtge., 102 ; Mich. So. 2d mtge., 88 ; Mil. and St.
P. 1 in., 821 ; Pacific 7s Guart'd, 74 ; Pacific Mail, 226 ;
N.Y. Central, 921 ; Illinois Central, 1141.

(From. E. F.. Satterthwaite and Co.'s Weekly Circular,
May 2nd.)

The " Cuba" brought us advices from New York to
the 17th ult. During the week that had elapsed since our
previous report, there had been a steady demand for
GoVernment securities, especially for the Seven and Three-
tenths per cent. Currency Bonds, which had adVanced to
about 100} per cent. ; other descriptions exhibited a frac-
tional improvement. Railroad Stocks were generally firm,
and the list showed but little alteration, with the excep-
tion of Rock Island, Hudson River, and Readings, which
exhibit an improvement of from 2 to 4 per cent. ; the latter
stock was, perhaps, more in demand than any other on the
list, and closed with an apparently upward tendency.
Eries had been largely dealt in at fluctuating prices, the
result on the week being a decline of $1 ; the delay in the
publication of the report being regarded as unfavourable.
Railroad Bonds and State Stocks were steady, with but
little alteration in prices. Money was cheap and abundant,
borrowers on Government Bonds being readily supplied
at 5 per cent. ; and on good Railroad securities at 6 per
cent. At these rates considerable amounts had been
taken, but still large sums remained unemployed, as shown
by the Banks' returns, which exhibit an increase in.the de-
posits of four millions. The Secretary of the Treasury
had given notice that after the Ist of May, the interest on
all money lodged with the Treasury would be reduced
from sto 4 per cent. The deposits held by them on the
Ist April amounted to about one hundred and twenty mil-
lion dollars.

Gold remained steady at former quotations, but there
was rather more inquiry for exchange on London.
The following is the return of the New York Banks :
Discounts. Specie. Circulation Deposits.
April 7, 242,643,753 11,436,295.24,1227,061 189,08 94,961
April 14, 244,099,849 11,035,129 24,533,981 193,153,469

A Transatlantic Ferry.

Under the title of this article the Anglo- American
Times in a former number stated that there would
be 1,074 passages made between Europe and the
United States by the various lines of steamers dur-
ing the present year. It now goes on to remark
that small steamships run at so great a cost in propor-
tion to their carrying capacity, if satisfactory speed
is attained, that in the early days of Transatlantic
steaming it was doubtful whether a vessel of the di-
mensions then constructed would be profitable with-
out a Government subsidy. The want also of the
modern improvements in the means of generating
steam and mechanical appliances added greatly to
the risk of the adventure. In fact, so great have
been the improvements within ten years that ships
requiring more than a hundred tons of coal per
day are now substituted by those of similar
capacity that consume but little more than one-half
the quantity; for example, the old steamer Atlantic,
the first of the Collins line, now runs with improved
boilers on a consumption of fifty tons of coals per
day instead of more than one hundred as formerly ;
and the new Pacific mail steamers, of 1,000 tons
still greater capacity, make an equal speed with
thirty to forty tons per day. This increased eco-
nomy is attained by the light draft of the latter
steamers. A ratio of economy will still continue
with increased magnitude of vessels ; thus, as a
properly modelled steamer, of 10,000 tons measure-
ment, will present but about fifty per cent. more
sectional area of resistance to her movements
through the water than one of 2,000 tons, it
follows that it will cost but fifty per cent. more
to run her at a given speed, though five times the
measurement.

Twenty years ago, however, small steamers
were supposed to supply the wants of the age. But
time has rolled on, and a wonderful change has
taken place in transatlantic commerce. The in-
crease of traffic,is multiplied by thousands, and a
much larger class of steamers are crowded to an
extent that never favoured the primitive ships.
In fact, it is the large steamer, with its greater
comfort and , speed, that commands the business.
But improvements are still required. Steam has
already unrhymed the poetry that once attached
itself to spread canvas and stately masts, and
invites Jack to become an engineer, that the faithful
machine shall be the great motor over the wily deep.
The thousand annual Transatlantic passages, already
inducing the adoption of a class of steamers that
shall stimulate travel by reducing the cost and
greatly promoting comfort and speed at sea—in
short, the establishment on a grand scale of a FERRY
ACROSS THE ATLANTIC, that shall prove as perma-
nent an institution and as reliable in its returns to
shareholders as the penny boats between Westmin-
ster mid London-bridge, or those great ferries over
the rivers at New York.

The project of the Transatlantic Passenger and
Express Steamship Company, formed in New York,
with probably a joint management in England,
which we are about to describe, so far as we are
in possession of details, has for its object the con-
struction of a sufficient number of iron vessels to
form a weekly and direct line between New York and
London, by making their port of arrival and departure
the Bristol Channel, which centres in the most po-
pulous and wealthy portion of England. Here
coals can be obtained at one-half the Liverpool
price, and ample harbour improvements are being
made for transatlantic shipping, within three hours
of the metropolis, by the finest railway facilities in
the kingdom.

The scheme combines many elements of suc-
cess ; and as there is already a large amount
of money subscribed, it will no doubt be
consummated at an early date, to the delight of
the many thousands who desire to visit the opposite
shores of the Atlantic. The ships are to be not
less than 8,000 tons measurement, 590 feet in
length, 75 feet beam, and 30 feet perpendicular,
and will draw about 16 feet of water, varying in
draft from consumption of fuel on a passage but
little more than one foot, or about one-fifth the
variation of the largest existing paddle steamers
from the same cause. Their length will
prevent the pitching usual to other ships, and their
breadth, with low vertical measurement, will reduce
their rolling tendency to a minimum. It is ex-
pected, therefore, that the horrors of sea sickness
will be almost wholly avoided. An important fea-
ture in the ships will be the strength that will be
afforded by what may be termed their " spinal
frame," which will consist of two diagonally
braced supports, 40 feet apart, and rising
from sister kelsons to 40 feet high, extending longi-
tudinally about 350 feet over the central portion of
the vessel, then resolving themselves into one to the
extremities. The strength of this framework,
though it will occupy but little of the available space
of the ship, will be great enough, were each end
supported upon a bearing to support upon its
middle the weight of all the material required to
build the vessel. Below the lower deck this spinal
framework will be lined with plate iron, transversely
to which there will be a sufficient number of bulk-
' heads to form more than 20 water-tight compart-
ments, rendering the ships nominally unsinkable.
The outer framework and skin will be of usual con-
struction, though modelled to admit of the greatest
speed. The double portion of the spinal framework,
rising 40ft., or 10ft. above the main decks, will form
the side walls of a grand saloon the whole of their
length, with state cabins and private drawing-rocms
on each side, and support a promenade deck extend-
ing flush to the extremities of the ship. As is com-
mon in many steamers, there will be two stories or
decks below the main one, also furnished with state-
rooms opening from different spacious corri-
dors or passage ways, and calculated to lodge
over two thousand persons. 'There will be an
ample supply of bath rooms, hair dressing saloons,
smoking rooms, and such resorts of comfort as are
usually connected with a first-class hotel.

Under the ordinary system of steam-ship
management, although passengers may pay a high
price for crossing the Atlantic, it is to the in-
terest of the ships that they are supplied with as
few comforts as possible, save what competition
exacts. For example, it becomes decidedly unpro-
fitable to have a bell-pull in the statelrooms, as un-
comfortable individuals could call too readily for
supplies ; hence a poor sea-sick passenger cries
aloud from" his motionless berth—" Steward !
steward!" until exhausted, or probably arrives at
the determination never to cross the Atlantic again,
and particularly in that ship.

In the contemplated steamers all interests will
favour both ship's company and passengers. It is
proposed to charge a moderate price for passage,
say £5, £lO, or £l5, according to different localities
of the ships, subject to a reduction for excursion
tickets, and supply the food, &c., a la carte, at prices
common at respectable restaurants in London or
New York—though two or three classes may be
established in different parts of the ship. In this
way voyagers may live in any style they like ; and
those who wish to economise need not pay for the
extravagance of others. If an unfortunate is housed
in his state-room, a bell-pull will be at his service,
as it will be to the interest of all concerned that his
wants are promptly supplied. It is supposed that
such an hotel, isolated from all competition,
with a large patronage of guests, the most of whom
will be disposed to live merrily, will produce a large
revenue.

Another source of income to the ships will be
rather novel in its place. Throughout the corridors,
passage ways, and saloons, the partitions, doors,
&c., will contain some thousands of panels.
These are to be of plate glass; and will be rented to
hotel-keepers, warehousemen, manufacturers, &c.,
for a given price per annum, for the purpose of
having frescoed, gilded, or painted on the inner
surface,
in some acceptable decorative style, the
cards_or advertisements of their various kinds of
business ; and, as passengers will find more or less
interest as well as pastime in reading them, it is
probable that the
benefit to the ship's company, passengers, and
advertisers. system may prove a mutual

Though the machinery of the vessel will possess
extraordinary appliances for safety, and somewhat
of novelty in plan, there will he nO new principles
involved, but very plain and simple in their general
details. There will be a pair of paddle-wheels as in

other steamers, and two screw propellers, one under
each counter of the ship's stern. The paddle-wheels
are to be driven by two cylinders or engines, as is
usual,.with the exception that the centre shaft may
be unclutched and the wheels worked separately if
required, as in shifting the position of the ship in
the harbour, orshould the rudder fail at sea, by run-
ning them separately and temporarily at different
speed, they will steer the vessel.

The two screw propellers will also be driven by
two cylinders or engines, which, by a novel arrange-
ment, will work in connection, turning each screw
in an opposite direction, or either cylinder alone
will work either or both screws in either direction,
and will perform the same service in manoeuvreing
or steering the ship as the paddles. Though there
will be the usual fixtures at the stern for steering,
the helm will commonly be controlled by hydraulic
power from the pilot-house on the forward part of
the vessel.

The cylinders of the engines will all be of great
diameter in order to work steam at a high degree
of expansion, and calculated to produce 2,500 no-
minal horse power, which it is supposed, according
to common practice, will drive the ships, with their
sectional area of resistance of 930 square feet, and
length enough to avoid pitching, so that the wave
will not materiallyretard their speed, across the At-
lantic very easily within eight days; and with the
advantage of the most approved boilers, on a con-
sumption of fuel not exceeding one thousand tons.
Steamships are supposed to make a direct course,
and not beat about to get an advantagefrom any un-
favourable wind. It is admitted by experienced mas-
ters of steamers which make no more than nine knots
an hour, that sails are of no commercial benefit on
the average, and are only valuable as a means of
safety in case of the failure of the single propelling
power with which ships are usually supplied. But
in the new line, four distinct propelling powers are
supplied, either one of which will alone bring the
ship to port with greater speed and certainty than
Che sails attached to any steamer, and the lapse of
weeks of painful suspense of friends on shore and
the still greater discomfort of those on board an in-
jured vessel, depending upon sails, would be re-
duced to two or three days. Our readers will re-
member that a few days ago the steamer City
of Washington was given up for lost by many
in this country, and yet she was perfectly safe on
the Atlantic, having simply broken her machinery.
These new ships, having four perfect sets of ma-
chinery, could sustain three times the amount of
damage which happened to the City of Wash-
ington, and yet steam safely, and with but a few
hours' loss of time, into port. It then fol-
lows that where a steamer is to be so well sup-
plied with mechanical appliances, and intended
to make high speed, that, dispensing with spars
and sails, and a horde of seamen whose chief em-
ployment is to keep them in order, is significant of
a great reduction in running cost, and a good rid-
dance to what most passengers will agree upon not
being applicable to a passenger ship.
Our own experience around the world, by both
steam and sail, and many times across the Atlantic,
convinces us of the great want of the improvements
here proposed ; and we hope to be able to congra-
tulate the travelling public, which in such case we
predict will be largely increased, on the early con-
summation of the project. The scheme was ori-
ginated and the ships designed throughout by
THOMAS SILVER, Esq., of the United States, the
successful inventor of the Marine Governor, which
bears his name.