The Sun.
London, England, 1857-11-28 00:00:00

LATEST NEWS.

CHINA.

We (Times) have received the following letters
by the extra mail brought by the Norma :

SHANGHAI, SEPT. 27.

This morning the Noma, Peninsular and
Oriental steamer (extra), starts for Suez, with
1,500 bales of silk. She has been put on entirely
for commercial purposes, and will probably go
round by Bombay. It is quite uncertain, there-
fore, whether her letters will arrive earlier than
the next regular mail, so that, even if I had any
political news to communicate, this is not a favour-
able opportunity.
The few words I have to say, therefore, must
be of commercial matters—a little Rialto talk.
Silk is in Shanghai just now what the " Darby"
is at Tattersall's early in May. Every one is talk-
ing about it, and some are speculating in it. The
Chinamen are afraid of the news by the next mail,
and. have reduced their demands by 20 dols. a
bale. Some people think they see their way clear
with this reduction, and have bought up 3,000.
bales. Others, however, believe that this will
not dot They argue that the statistics of silk, the
stocks in England, the stocks in France, and the
12,000 bales actually in Shanghai, look bad for high
prices ; that the easiest thing in the world to be
supprinte is a silk dress ; and that, therefore, the
present demands are dangerously high. Of this
opinion are the Capulets and. Montagus of this
settlement. So John Chinaman is likely to keep
a large portion of his 12,000 bales, and also of
his 80,000 bales up country, unless he cal; make
up his mind to lower his prices.
But,our long-tailed friend is very rich. He has
been tempted by last year's high prices to sell all
that hoarded box silk which Chinamen (whose
civilization does not extend to a national debt, or
to joint-stock banking establishments) are in the
habit of laying by for rainy days. He can afford,
therefore, to hold, and at present he is not in-
clined to drop very low.
A curious illustration of Chinese Government
has arisen from the sudden wealth accumulated
in the silk districts by the demand and the prices
of the hat two years. The Mandarins (as in our
ignorance we call all Chinese officials, from a
sergeant or tide-waiter to a Governor or a Prime
Minister) went forth into the country where
wealth vas said to have accumulated for a general
" squeeze." The official eye had marked the
sponge to swell, and the official hand had de-
scended to press it. But the country folk do not
manure their mulberry-trees, and pick their leaves,
and breed their silkworms, and wind their
cocoons for mere amusement. They flew to arms
—which were probably their bamboo carrying
poles—and drove the squeezing party out of the
country. "Tread upon a worm and it will turn,"
say we Engish, in one of those pompous false-
hoods which sass from mouth to mouth as coined
wisdom. Th3Chinese silkworm breeder ought to
have known that if you tread hard enough and
full enough the worm will not turn, but will
squeeze. The Mandarin party certainly knew
this. They sent to Hangchau for soldiers—they
returned and set fire to the village wl:.ence they
had been ejected—and now what was, when I
traversed it last month, the most prosperous dia.
triet of China, it being visited with all the bless-
ings of immediate Imperial attention. I should
not wonder if this matter spread, for a Chinaman
will fight for his dollars.
Tea,, they tell me, is selling from Ga. to 83.
per lb. ,dearer in Shanghai than it is in England.
The wise men say that the first crop having been
lost, and the stocks being low, this uncomfortable
state of things is likely to continue.
You will be glad to bear that opium has
reached a tremendous price, so that the opium
smoker—and every man who wears a tail in these
parts takes an occasional whiff—wig persevere in
his bad habits under considerable discouragement.

HONG KONG, OCT. 5.

srinst.
Our latest dates from England are to the 10th
of August. The steamer with the 26th of August
mail is daily expected.
The agent for the Peninsular and Oriental Steam
Navigation Company
nY despatches the steamer Norma
for to-day, and, for the chance of
lettersGalli
Alexandria going on before the mail
of the
from this. I take the oppor-
tunity to give you a few lines, although there is
nothing of importance to communicate.
Lord Elgin is still here, and lives on board the
steamer Ava.
I do not hear that it is his inten.
tion to proceed north at present.
The steamer Emperor and three more gunboats
f h
e ot r
a and C
Suez

have arrived here.
I am glad to notice that her Majesty's steamer
Furious
was at Singapore, and reports that she
left J 2
gum boats at Anger ; as it has been a fair
monsoon here for a week or so, we may expeot
this considerable addition to the naval force to
arrive any day. It is generally believed that, as
soon as all the gun-boats have arrived, a very
strict blockade of the Canton river will be esta-
blished. This will, no doubt, check altogether
the small trade that has been going on at this
place and Macao.
The vessel taking foreign rice from Shanghai
and regarding which there was some difference of
opinion between the French Consul and the foreign
inspectors, was allowed to leave the port without
any interruption from the Custom-house autho-

rities.
,Thelt*an steamer Americkhas left Shanghai
for the Gulf of. P,echeli.
Pekin Gazettes are down to the 27th August,
but-do not refer again to outside affairs. Provi-
sions in the north appear to be excessively dear,
and vessels taking rice to Tientsin are exempt
from duties.

On the
night of the 30th ult. there was a
strong gale here ; but the damage was trifling.
At Macao, however, the destruction of life and
property was considerable.
The steamer Lily, which was chartered by the
French Government, returned to-day from the
Gulf of Tonquin. By this opportunity I learn
that a French bishop bad
been decapitated in
Cochin China, and that a
great many Christians
were murdered. I have not been able to get par-

titulars yet.
Here the stocks of manufacture are very light,
and prices show a further advance. Shirtings,
grays, 6.12, sold at 3 dols, and 7.4 at 3 do's 10c.;
cotton yarn, Nos. 16 and 24, have been sold at
30 dols, per picui ; Turkey opium, 560 dols.
nominal. Exchange, 4s.
111. to sg. on Eng-
land ; on India, 224 r. to 228 i r. ; Sycee silver,
6 per cent. pm. ; gold, 22 dols. 50c. per tael.
Tonnage is plentiful.
At Macao purchases of scented teas have been
made at rather higher rates ; no couktry teas
have been received.
From Amoy our dates are to the 29th ult.
Teas had advanced in price. No sales of shirtings
reported. Cotton yarn had been sold at
29 dols. 10c. for Nos. 16 and 24.
Foo Chow advices are to the 29th ult. The
pike of tea was somewhat lower, as foreigners
were holding off. The great scarcity of Foo Chow