The Sun.
London, England, 1857-11-07 00:00:00

SLTIPMEAT,S ,P1_..011 TO 11VDI4T

The following communication from an experi-
enced source embraces most of the points in the
question as to the probable results of the shipments
of specie to India now in progress:--
" Sir,—Concurring entirely to the soand and practi•
cal views contained in several of your money articles on
the present dearness of money and its causes, particu-
larly in reference to that of all others the most disturbing
element of the crisis—our Indian finances and exchanges
—it may not be out of place at this critical moment to
remind shippers of bullion to India that the extraordi-
nary and exceptional circumstances which prompted an
exchange of 2s. 3.'sd. when the last mail left Calcutta,
must have ceased to exist long before any bullion now
shipped can Teach its destination.
" With the fall of Delhi and the arrival of Euro-
pean troops native confidence will be at once rertered,
hoarding must cease, and the abl-Ice and native bankers
will be the first to bring their buried money to market
on the advantageous terms offering. Merchants will
have no occasion to draw bills at arbitrary rates of ex
change, being no longer deprived of ordinary facilities at
the Bank of Bengal and in the open market, and it will
be found that, in addition to this important element in
materially reducing exchange, an Equally powerful rea-
son wilt exist in the fact that in quantity and price, a
very es,rioue reduction mast take place in alt the leading
staples of exoort from India.
" Rice, linseed, saltpetre, hides, jute, and hemp,
which in the last few years, particularly since the out-
break of hostility with Russia, have commanded nearly
double their ordinary value in India, must fall to a like
extent to make their impeitation at present market
prices here remunerative. Sdk, sugar, and cotton,
which by reason of the failure of these crops in important
countries of production in 1855 and 1856 had also mate•
rially advanced in India, are fast falli❑g in value under
the influence of abundance. The only article which has
increased in ♦alue is indigo, which from short supply
will only absorb the same amount of money as in average
years. To these causes have also to be superadded
others equally important. English capital has since
April last been restricted in its use in the interior of
India in the production of staples for shipment. All
available river and lend freight will almost entirely, to
the exclusion of merchandise, be absorbed by Govern-
ment, and it is not unlikely that these causes alone may
bring about the exchanges of 1848 and 1349 in India,
which were is. 10d. and ls. 11d., and necessitated but.
lion shipments from Calcutta to a largo extent, influenced
eatirely by the restricted exports of staples which the
failures of 1847 caused in reduced means and facilities of
production.
"It should also be borne in mind that a rate of ex-
change in Calcutta of 2s. 3d. in October has, even in the
absence of any of the above causes, frequently brought
about a fall of 16 per eent., er a rate not exceeding Is.
lid., as in Marcie, 1852, when bullion shipments from
Calcutta were again revived, four months alter the zate
was 2s. 3d.

"There might have beensome reason and justification
for the export of bullion by the Court of Directors in
June, July, and August, when it was expedient and de-
sirable to inspire confidence in the native mind ; but
there is neither reason nor justification now, when the.
fall of Delhi and the arrival of the overwhelming rein-
orcemeuti must have given more confidence to the
people of India than they ever had in our power and
means,
" A more judicious and extensive circulation in our
treasuries in the interior of India of the Bank of B al
notes might have saved us much treasure which has
fallen into the hands of the mutineers; and now in the
support and transport of our troops on arrival in India
native princes and zmiiedars should, on the paper of
the East India Company, be required to find the neces-
sary means until bull on circulate s as before.
"There is no scarcity of bullion in India ; it has
absorbed from this country some 40,000,0001. since
1848, when we were importing it from India ; all that
' is required is a strong and determined Government.
"1 remain, sir, your obedient servant,
"Nov. 6." "M.P.
And the following, also from a practical mer-
chant, strengthens, by a reference to the last ad-
vices from China, the view,thus taken :
" I enclose two Shanghai circulars, by which you will
see that large amounts of gold and silver are being suit
from China to India. This is a startling and sudden
change. For five years China has been draining us
and India of the precious metals, and now the reflex
seems beginning; it seems to me to indicate not merely
a change in the balance of trade, but a return of confi-
dence and a restoration of quiet. There is no doubt that
the Chinese in the north have been doing an enormously
profitable business for years past, and great accumula-
tion of wealth must have followed. Hoarding from this
would seem to have been checked.
" The probability now is, following the pre-
sent position of the silk and tea market.,
that the balance of trade may soon be against
China. The increased values of opium and goods
in China may contribute to this ; if, then, we find gold
and silver returned to India thence, and silver, as is
pretty certain, ceases to go to China, it may be concluded
that the requirements of India will be supplied from
China, and that the drain of 15,000,000/- per annum of
silver to the East, which has been hitherto oppressing
119, will cease. Already it will not pay to Bombay, and.
only to Cal nitta does the drain continue. It remains to
be seen if China will supply this. I think it will. The
conclusion I corns t 3 is, that before long you will find the
drain,of silver to the East cease almost entirely, and if
gold is no longer required to buy it we shall have no
other external demands on us beyond what America may
require for a time. That cannot ha much, while before
long it may be assumed the flow'of gold will bathe other
way.
"If the future is to be neea,sured by the continuance
of the silver drain to the East, I should say many months
cannot elapse before there will be a [rapid and very cm-

sithrable fal in the value t f money.- -
" Enormous amounts of sifter have been cent to China,
Singapore, &c., for sugar during the past eight mon,las ;
all this will cease now—anothar source of relief.—Yours
truly, "G. N.

DiA.RKET NMlB.—('ilhis Day.)

COVENT GARDEN.

The supplies of fruit and vegetables continuo extensive,
and the demand is less active, at our quotations :

FRUIT.
Pine apples, per lb. 4s Od to 6s Filberts,per 1001 b 23s to 30s
Colonial do., ea. Os 01 to Os Od Cobs., p. 100 lbs. Os to Os
Grapes, per lb 2s Oil to 4s Ahnonds, p. lb. Os Od-to lOd
Foreign do Os Od to Os Od Walnuts, per 1001 s to 3s Gd
Melons, each Od to 3s Od Figs, per doz Os to Os Oil
Peaches, p. doz. 4s to 8s Oil Strawberries, per
Nectarines, do. ...4:3 to 5s 0,1 pottle
Apples, p. h. sv. is Gd to 2s Gd Gooseberries, per
Pears, per doz ...2s to 4s Od half sieve ....Os Od to Os Ocl-
Oranges, per 100.20 s to 21s Currants, p. h. sv. Os 0,1 to Os
Lemons, p. doz. is 0,1 to 2:30d Plums, per do. Os 0,1 to Os Od
Apricots,p.kloz. Os Od to Os Od , Greengages, per h. sv.Os to Os
Cherries, per lb. Os to Os Cdi Raspberries, p.potl. Od to Od
VEGETABLE 6.
Greens, p. doz. bun. 2s to3s Od Shallots, per lb.. ..... to 9,1
Cabbages, per doz.Od to Os 0,1 liorseracldish, p. b. Is6d to 4s
Savoy do., p. do. Os Od to Os Gd Parsley, per do. 2d to 4d
Cauliflowers, do.2s Oil to 43 Od Celery, per do is 01 to is 6d
Brocoli, p. bun. Us 9d to Is Od Beet, per doz. is Od to 2s Od
Potatoes, per ton 853 to 160, Parsnips, per do. Os to Os Od
New do., per cwt. 010,1 to 0, Small salad, p. pun. 2d to 3d
Peas, per hsiev Os Od to Os PO Mushrooms,p.ptl.lSGdto2sGd
Turnips, per bunch 2d to 41 Artichokes, each to 8d
Carrots, per bunch... 4,1 to 6d Lettuces, per scr. Is 6d to 2s
Cucumbers, each Gd to Os 9,1 Endive, par doz. is to is 6d
Garlic, per lb. 6d to Os 8d Radishes, p.d.bun. is to Is6d
Sorrel, per sieve Od to 0, Tomatoes, per hsv.3s to 4s Od
Spinach, p. d0...13 Od to 2s Walnuts per MO ...Od to Cd
Brussels sprouts, per Chillies, per 100 Os Od to Os Od
half do is Od to 2s Ocl Capsicums, per 100 Os Od to Os
Onions, p. bush Os Od to Os Oil Rhubarb, p. bun. Od to Od
New do., per bunch Oil to Oil Asparagus, per 100 Os Od to Os
French beans, per Seakail,perpun.Os 0,1 to Os Od
half-sieve ... is Gd to is Od Turnip greens, per
Leeks, per d 0......... 2d to 3a bush Os Od to -Os Od

NE WGATE AND LE ADENHALL
Turkeys, Oa Od to Os 0,1; Poults' 5s 01 to 8s Od; Goose,
5s Od' to 7s Od each ; Goslings, 4s 6d to 7s 01 ; Duck-
lings, is 9,1 to 2s 6d ; tame rabbits, Is 3d to is 9d each ;
wild do., 10d to is 2d ; Pigeons, .5d to 9cl each ; lar,e
Surrey Fowls, 63 to Ss; barn-door do., 3s 6d to 5s Od ; Chick-
ens, 33 Gd to 5s Gd per couple; Capons, Os Od to 03; Hares,
2s 0.1 to 3s 6d; Grouse, is 91 to 3s Od each ; Pheasants,
2s Gil to 3s 6d ; Partridges, is Od to is Od ; Woodcocks, 2s
6d to 3s ; Snipes, Od to Os Od; Teal, Os 9d to is 3d; Wild
Ducks, is Od to is 9d; Widgeons, 0.310,1 to is 3,1; Plovers, Os
to 030 d each ; Guinea Fowls, Os Od to Os ; Roasting pigs, 6s
Od to lOs 01 each. Ostend fresh butter, —s to —s Oil ;
English do., is 21 to is 4d per lb. ; English eggs, 10a
osl to 12110,1; French do., 9s 0,1 to 104 01 per 120; Leverete,
2s Od to 3s Od each.