The Sun.
London, England, 1859-07-27 00:00:00

LATEST NEWS.

The following telegrams have been received at
Mr. Reuter's office :

ST. PETERSBURG, JULY 26.

The Gazette of the Senate publishes a treaty con-
cluded between Russia and China, and ratified by
the two Emperors. The treaty contains twelve
articles, and is signed at Tientsin. China grants
to Russia leave to send ambassadors to Pekin,
promises protection to Christian missionaries, and
authorises a monthly mail service between Kiachta
and Pekin.

MARSEILLES, JULY 26.
Another detachment of Swiss troops has arrived

from Naples.
Advices have been received from Rome to the
23d inst. His Holiness the Pope had received the
French Ambassador, the Duke de Grammont, ix an
extraordinary audience, which lasted two hours.
Letters received assert that the principle of the
Presidency of the Italian Confederation has been
accepted by the Pope. A conference of six cardinals
has taken place, the majority of whom voted
favourably for the Presidency. M. de Menneval,
officier d'ordonnance of the Emperor of the French,
returns to .morrow to France.
Advices received from Naples to the 25th inst.
Elliot has been definitively accre-
distatetde tahsaAmbassadors from England to the Court of
Naples. He has delivered to the King an auto-
graph letter from her Majesty the Queen.

VIENNA, JULY 26.

The official Wiener Zeitung publishes a note ad-
dressed by Count Rechberg to Baron von Koller,
Austrian Ambassador at Berlin, and adds that the
projects lately published by the Prussian Gazelle
were at the time brought to the knowledge of the
Imperial Government, but that merely the inten-
tion of attempting mediation was made known to
Austria.

According to advices from Lussin the French
have completely evacuated Lussin and the Gulf of
Quarnaro, and the French fleet has sailed.

NEW DIFFICULTIES.

A correspondent of a morning contemporary

says :--

" Sardinia has just named as her plenipotentiary
at Zurich, M. de Ambrois, a very enlightened man.
It is expected that he will come to Paris before
proceeding to his destination.
" Austria, however, refuses to meet any Sardinian
Representative, but will leave it open to Sardinia
to accede to the Treaty after it shall have been con-
cluded between Austria and France.

" The Grand Duke of Tuscany has expressed his
willingness to abdicate in favour of his son, who
promises a constitution ; but the Tuscans object
altogether to the dynasty."

FRANCE.

PARIS, TUESDAY.

The Paine publishes an article on the note of the
Moniteur of this morning, respecting the armaments
of France and England, which concludes thus:—
" France has done everything to free England
from the nightmare of invasion in order to restore
her to calmness and repose. If we do not succeed,
England can only lay the blame on herself for the
fears which agitate her, and which, if prolonged,
would become an affront to our sincerity, feelings,
and actions!'

The Pays says :
" Count PourtalC's arrived yesterday at Paris.
Signor Pallavicino has also arrived here. It is as-
serted that the Emperor will receive him to-day."
The Moniteur publishes the following article, a
telegraphic summary of which appeared in our se-
cond edition yesterday :
" An attempt is made in England to attribute to
France the cause of the burdens imposed upon the
English people for national defences.' It is the
pretended exaggeration of our armaments which is
made to serve as a justification for the considerable
augmentation of the army and navy estimates of
Great Britain.

"A comparison between our estimates and those
of England will show the fallacy of the assertion.
(4 since 1853 the English budget shows an in-
crease of £13,480,000 (or 336,000,000 f.), and of this
sum 200,000,000 f. are far the army and navy esti-
mates. In the year which is commencing those
two budgets will cost in England more than
650,000,000 f., 332,500,000 f. for the army and
320,000,000 f. for the navy.
"In France the army-budget, as voted for 1860,
only amounts to 339,458,744 f., and that of the
navy to 123,503,143f'—altogether a total of about
463,000,000 f., consequently far below the estimates
of Great Britain for the same services.
" For the army budget the amount fluctuates ac-
cording to the price of commodities. It is chiefly
owing to the high price of food that in 1859
the army budget rose to 361,917,503 f., includ-
ing the amount originally voted as well as the
supplementary credits provided for. For the navy
the estimates amounted to 122,963,883 f. In 1858
the Ministry of War expended 376,822,535 f., and
the Ministry of Marine 137,980,260 f. Now,
if we refer to 1853, to see how we stood
before the preparations for the Crimean war, we
find that the army estimates were 322,740,809 f.,
and the navy estimates, 99,195,965 f. Finally, if
we take a still more retrospective glance, and take
the last years of the last Government, we find that
as regards the army we are below the expenses of
1847, which amounted to 373,365,981f.t and
128,637,509 f. for the navy.t Doubtless the figures
for 1859 and 1860 do not include the expenses of
the war in Italy and those of the expedition to
Cochin China, of which it is impossible as yet to
fcrm a correct estimate ; but it is probable that the
loan of 500,000,000 f. will leave a considerable sum
in hand after the settlement of those expenses, and
that as soon as the events which gave rise to them
shall have been accomplished they will return to
their normal state.

" It may then be asked whether the enormous
burdens imposed upon the English people are to
be attributed to France and her extraordinary
armaments, or whether those enormous outlays, and
the taxes consequent thereon, must not be attri-
buted to other causes."

* " It must be observed that the budgets of the army and
navy include, in addition to the pay and maintenance of the
effective forces and materiel of war, all sums yearly granted
for extraordinary works of the engineers (fortifications, &c.)
and of the sea ports.
t " The expenses for Algeria are included in this amount,
now carried to a special budget for 16,500,000 f.
" In these calculations the budgets for 1854, 1855, 1856,
and 1857, are not included, as they were affected by the ex-
penses of the Crimean war."

PARIS BOURSE, July 26.—The market has again
become heavy. Threes, after having been done at
67f. 75c., are now at 67f. 95c. Mobilier varied from
787 f. 50c. to 800 f. ; Austrian, 555 f. to 557 f. 50c. ;
Lombardo-Venetian, 560 f. to 565 f. ; Orleans, 1,337 f.
50c. to 1,340 f. ; Lyons, 855 f. to 857 f. 50c. ; Southern,
507 f. 50c. to 510 f. The market continued heavy to
the close, when the following were the last quota-
tions :

41 per Cents. .... 96 50 ;
Do. end month .. 96 401
3 per Cents. 67 851

Credit Fonder 650
Belgian 4
Piedmontese (5)
Roman B6
Austrian
Spanish Threes
Home Debt 4l 50

D. end mouth.— 67 90
Bank Shares......

Credit Mobilier 798 75
Do. Account ..... 795

RAILWAYS.
Cash.

Account.
1340

Orleans

Northern 920 ..
New ditto BOO .. 807 50
Lyons and Muditerrauean 852 50 .. 852 50
Geneva 522 50 .. 520
Southern
Western 547 50 .. 547 50
Eastern
Sardinian 402 50 .. 402 50

Austrian
557 50 .. 555

Exchange on London, at sight, paper, 25f. 6c. ; money,
25f 4c.; three months, paper, 24f. 94c.; money, 24f. 93c.

The Piedmontese journals have turned their at-
;ention at present to a curious article which ap-