The Sun.
London, England, 1857-04-03 00:00:00

TIIE AUSTRALIAN HOMEWARD MAILS

which compels us to sell that which is indispenE-
able to the prosperity of the people at a price
which may be far beneath its actual value under

existing circumstances.
We earnestly hope that the first act of the new
Parliament will be the appointment of a fair and
impartial Committee to inquire into this
all-important question. That which had been
appointed, and which was fo all intents and pur-
poses "a Committee of Secresy," has closed its
labours. Several of its members have lost their
seats, and it must unquestionably be reconsti-
tuted. If a fair demonstration be made at the
meeting of the Legislature a great change may be
effected. All that monetary reformers ask is a
fair and impartial investigation into the existing
law, and that such recommendations as may
naturally follow from the facts should bo made.
The Report of the Lords' Committee, adverse to
the law, which it is proposed t 3 renew, still re-
mains on record, and may be very beneficially re-
sorted to as a guide to future legislation. But
nine years have elapsed since that Report, and a
suitable supplement thereto should be put forward
E before the matter is finally disposed of.
r It is quite clear that the question has not
hitherto received the attention which its vast

importance so imperatively requires. It was care-
fully eschewed by the " do-nothing Parliament"
recently dissolved. Every difficult subject was
there avoided. Noble Lords and Right Hon. and
Hon. Gentlemen thought they did all that could
be required in giving the go-by to any intricate
problem. Will those who have assumed their
places display similar apathy and indiffe-
rence ? Will they lay themselves open to
the grave accusation of apathy and indiffer-
ence, where the welfare and prosperity of the in-
dustrial population is so greatly concerned. The
greatest evils that can happen to the country
arise from fluctuations in the value of money
that may defeat the best-prepared calculations,
and which render what ought to, be legi-
timate transactions litt!e better than gam-
bling speculations ! Why, we ask, should
this state of things la continued, and why
should the interests of the people be con-
fided to the irresponsible directors of an irre-
sponsible corporation. Surely the regulation of
the national currency should be placed under a
department of the Government answerable to
Parliament for the exercise of a proper discretion.
The best proof that can be afforded by the new
House of Commons of its zeal and anxiety for the
public welfare will be bestowing on this interest-
ing question the attention which it so pre-emi-
nently merits, but which it certainly has never
hitherto received.

The last mail from La Plata brought intelli-
gence of more than ordinary interest, politically
and financially. We not•ic?d that from Buenos
Ayres on the arrival of the Tamar, but the great
pressure on our space prevented us from observ-
ing on the improved prospects of the long de-
frauded bondholders, whose interests we have
closely looked after, through good report and
through bad report. We plainly and intelligibly
det riled the true state of affairs respecting their
long-neglected claims, and showed how fully they
were entitled to the moderate terms insisted on
by their very efficient and indefatigable represen-
tatives. The matter at length seems placed in
proper train, and we may hope that all causes of
complaint will be promptly and speedily removed.
The settlement of the long pending dip•
lomatic dispute with the British Govern-
ment, from the unceremonious expulsion of
Captain GORE, is a very auspicious circumstance,
that must unquestionably be productive of the best
possible results to our fellow-subjects. The ar-
rangement is perfectly satisfactory, as will be seen
from what we have extracted into another
part of our imnression. The Buenos Ayres
Government candidly confesses the error into
which it was betrayed when it forwarded
his passport to Captain GORE, accompanied
by a very uncourteous and unceremonious
note. It will be seen that notes have passed
between the Foreign Minister, Dr. DA.LMACIO
VELEZ SARSFIELD, and Mr. FRANK PARISX, of a
character proving beyond the possibility of doubt
that all parties were influenced by a sincere dosire
to terminate iu a conciliatory spirit all past
grievances. Thus Dr. SARSFIELD, after a die-
tinct expression of regret for what was naturally
considered an offensive act, requests that " the
note of the 6th January, 1853, and the passport
enclosed in it may be considered as withdrawn,"
and the acting Consul-General, Mr. PARISH,
unhesitatingly accepts the apology thus fairly
offered.

The financial intelligence is also interesting,
and although not quite so satisfactory as the long-
continued forbearance of the creditors might have
anticipated, it still will be pleasing to the holders of
the Bonds represented by the Loan of 1824.
We have again and again urged upon all parties
concerned the injustice done the creditors by a
suspension of payment approaching a period of
30 years, and also showed the unwise policy on
the part of the Buenos Ayres Government
(whether Roses or OBLIGADO, or any other Go-
vernor ruled), and called on them at once to
remove the blot that so long disgraced its financial
history, and to follow forthwith the example so
long and so usefully set by Chili, by Peru, and
other South American States, and not to point to
Europe for good or for bad illustrations—to prove
that credit is everywhere strength and power
to countries commanding such resources.
We perceive, amongst other documents last to
hand, a letter addressed by the Finance Minister.
NORBERTO DE Ld RIESTRA, to the House of
BARING BROTHERS, and which appeared in The
Sun of Friday. We may remark that any appeal
to Buenos Ayres from such a quarter was en.
titled on every ACCOUNT to the best attention of
the Finance Minister. Indeed Messrs. BARING
had little to urge if we remember correctly after
the resolutions agreed to at the London Tavern,
in November—and concessions acquiesced in by
the English creditors. That little was simply that
a Deferred Stock bearing 3 per cent., instead of
only a contemptible 1 per cent. for 10
years, and then 2 permanently, should le
granted. The Minister, PS usual, pleads
poverty, but still promises acquiescence in i be
event of augmeated revenue, enabling the State
to pay it. PAY IT, we repeat, we reiterate q,
they can do, were the debt double what it is. The
Loan was originally only 1,000,0001. at 84 per
Cent., and perhaps about 950,0001. is all that
now circulates ; the rest was redeemed by sums re-
served from the subscriptions to the Loan by the
con tractors in 1824. Then how f,tands the case
if Mr. PAT:I'iU and :qr. C tun, t obtain the
Tao original Bend, we
bpealli,,eryvecone::..iipoirr a,ic
present
d ?
npays a
small interest
of 3 per cont. This ensuing year it will pay about
4 per cent.,
and will increase the following years
to 5 and 6 per cent.
and the half of a half year'3
enor-
mous. They amount to, if not exceed, 170 per
cent, ever since 1829
The arrears of dividend over due are now enor-
They have run on almost
coupon of that
taut ditto was the last paid upon. Bo it remem-
bered all this is so much saved to the Republic,

and so much loss 'to the Bondholders. It would
seem as if the Minister was determined that it
should be lost altogether, or next door to it. We
have observed many inquiries made as -to what
the value of this " 2 per cent. deferred" will be.
It is vaguely argued if a Peru 3 per cent. is rl-,
56, and a Chili 3 per cent. at 80, surely a Buenos
Ayres 2 per cent, will be worth 15 or 20, and, if
good faith is kept, may go higher. Others argue
5/. or Si., or at most 101. profit, is all it is worth.
This we leave to the stock-jobbers and to the test
of time, and perhaps the state of monetary
affairs. We should not have dwelt so much upon
that part of the subject but for a very ambiguous
paragraph in Senor RIESTRA'S letter to Messrs.
BARING; "thanking, es it does, their good
selves," as it were for a hint, that a small rate of
interest only paid on the Deferred, will keep it
low, and they (the Republic) may redeem it
easily and comfortably. Messrs. BARING; how-
ever, seem to have suggested that 3 per cent.,
, and not a paltry 2 per cont., should be paid.
6 We hope the Republic will yet adopt this very
proper and even moderate suggestion.

_
One word more and we dismiss the subject—
glad, at least, to congratulate the bona fide bond-
holders that, if all is not obtained that ought to
be conceded, better times seem to be in store for
them.

We say this with more confidence, for if Messrs.
BARING have failed as to the " 3 per cent. quer-
tion" on the Deferred, they have obtained a re•
cognition of the Active PS a 6 per Cent. Bond
within a very proximate date as stated, and bet-
ter still, the " Canon Effitcutico," or " Copyhold
Government Tenures," are to be applied as a sink-
ing fund for both the Active and Deferred por-
tions of the debt. We are credibly in-
formed that the revenues, from this branch, are,
some years, very considerable—calculated at from
50,0001. to 60,0001. sterling annually. A reserve
is made of 15,0001. in favour of some other claim.
On the whole, the prospects, then, of the credi-
tors are improving greatly, compared to the
utterly barren state of things for more than a
quarter of a century past.
We have stated that the bondholders are deeply
indebted to their efficient and indefatigable agents.
Mr. FRL.NIE PARISH rendered valuable assistance
at all times, while the zeal, exertions, and experi-
ence of Mr. JAMES GIRO cannot be too highly
praised. For three years that Gentleman has
displayed untiring patience and assiduity. Mr.
ROBERTSON'S name has been too long connected
with the question to be omitted on this occasion.
He was the chief mover on every point, and we
may ascribe the present improved state of affairs
mainly to his judicious efforts. It is deeply to be
regretted that a severe accident has debarred him
—we trust but for a brief period—from attending
to the important duties confided to his charge as
Chairman of the Committee of bondholders, and
which he has invariably discharged with so much
credit to himself and benefit to those in whose
behalf he was so actively engaged.

THE COMMANDER-IN-CHIEF OF THE
INDIAN NAVY.

Allen's India Mail states that Capt. G. Greville
Wellesley, C. 8., RN., has been appointed Com-
mander-in-Chief of the Indian Navy, to succeed
Admiral Sir H. Leeke, whose tenure of office has
expired. Captain Wellesley's conamt§sion as lieu-
tenant was dated in April, 1831, as commander in
April, 1842, and as captain in December, 1844.
As lieutenant of the Castor he was at the taking of
Caiffa and Tsour, on the coast of Syria, and at the
bombardment of St. Jean d'Acre. After passing
through these three grades v. -11 much credit, he
was placed in command on the Pacific station in
1853 ; and on the breaking out of the late war with
Russia he was appointed to the command of the
Cornwallis, which formed one of the Baltic fleet.
Captain Wellesley is the youngest son of the late
Hon. and Rev. Gerald Wellesley, and a nephew of
the late Duke of Wellington.—[Hence his good
luck.—ED. SUN.]

Important and satisfactory news arrived yesterday
from A ustralia of the safe arrival out there of the two
mail packets Oneida and Simla. The former made the .
passage from Southampton to Melbourne, via the Cape
of Good Hope, in 65 days, and the latter in 55 days
The Oneida made a very good passage, but that of the
Simla was by far the quickest passage to Australia
ever known, and justifies the high expectations that
were formed of that vessel. It does net appear that
any accident happened to either of the two mail
packets of a nature to prevent their leaving Australia
at the appointed periods. The Oneida arrived out at
Sydney on the 29th of Dec., and her time for leaving
that port with the homeward mail was not until the 23d
of Jan. The Simla arrived out at Melbourne on the 6th
of Jan., and her time for leaving was not until the 14th
of Feb. There must have been plenty of time, therefore,
to have got each of those steamers ready to start at the
proper date. The Oneida should have reached Suez on
the 6th, and the Simla on the 24th of March. We have
news from Suez up to the latter period, and no tidings
of the arrival of either of those steamers. A s far as the
Simla is concerned it cannot be said as yet that she has
lost any time, but the Oneida is undoubtedly 18 days
overdue. If the latter ship could have come up to
Suez from Australia in proper time, the Simla, from
her superior speed, would no doubt have reached Suez
about the 17th or 18th of last month. It is feared,

therefore, that the time for performing the voyage from
Sydney to the northern point of the Red Sea has not
been properly estimated, or that the packets have had un-
favourable weather. In little more than a week's time
we shall bs able to have telegraphic news from Suez by
way of Trieste, of a fortnight's later date than that re-
cently received.
It appears that the Peninsular and Oriental Company's
steam-ship Simla, under charter to the European and
Australian Royal Mail Company, arrived at Melbourne
on the 6th of January, after an unprecedented run of 55
days from Southampton, including a stay of 5 days at
St. Vincent. The distance from Southampton to Mel-
bourne being 12,700 miles, she must have averaged 254
miles per day. The Simla wa3 due at Suez on the 24th
ult. with advises from Melbourne to the 15th of Feb.,
and should she have kept the contract time, telegraphic
intelligence by her via Marseilles may be expected on
the 6th instant.

The following letter has been addressed to the editor
of the Times :
" received the annexed note by this morning's
mail.—Your obedient servant,

" London April 2.

" VOYAGEUR.

"'Suez, March 9.
"' My dear Sir,—l write you a hurried line from this
m'serable hole, amid a scene of desolation unparalleled
on the face of the earth.

" 'Nike days after her time, and no steamer in yet to
take us on to Point de Galle or Melbourne ! The pas-
sengers for both places are disappointed and disgusted,
and the mails are left on the open ground,
Wasting their sweetness on the desert air.'
So much for the new charter, and the attempt of Eng-
land and the colonies to procure rapid postal communi-
cation.

" ' No dependence can be placed on any company that
has not a separate steamer for the service from Suez to
Point de Galle.—Yours truly, " ' T. S.' "

ELECTION OF THE VICE-PROVOST AND
A FELLOW OF ETON COLLEGE.

ETON COLLEGE, Thnrsday.—The Rev. Thomas Carter,
M.A., one of the Fellows of Eton College, has been una-
nimously elected vice-provost vice the Rev. George
Bethel!, deceased.
At a College meeting, held after morning service this
day, present the Rev. Edward Craven Hawtrey, D.D.,
Provost ; the Rev. Thomas Carter, M.A., Vice Provost ;
the Rev. John Francis Plurnptree, M.A., the Rev. Geo.
Rowney Green, M.A., the Rev. Geo. John Dupuis,
M.A., and the Rev. Cbas. Luxmore, M.A.,—the Rev.
Edward Coleridge, M.A., Lower Master, was elected
Fellow of Eton College.
The vacancy of lower master, occasioned by the eleva-
tion of the Rev. E. Coleridge, has not yet been filled up,
but it is expected that the Rev. W. A. Carter, M.A.,
the senior assistant master of the upper school, who is
the son of the present vice-provost, who had so long and
faithfully discharged the duties of lower master, will be
elected to this important office. _

The examinati..ns for the Newcastle Scholarship,
under the Rev. Mr. de Winton and Mr. Chitty, have
been going for ward during the week, and the election of
the fortunate scholar and medallist, it is expected, will
be announced in the course of to-morrow.

THE LYCEUM THEATBE.—Mr. C. Dillon closed a bril-
liant season last night with Sir Bulwer Lytton's play of
"Richelieu," in which he performed the part of the
Cardinal with excellent effect. The house was crowded.

TROPHY OF THE LATE WAR.—The well-riddled flag of
the renowned Twelve Apostles, once the pride of Sebas-
topol Harbour, is now in the hands of a person at Malta,
who occasionally ho;sts it to shake out the moths, to the
great indignation of the Russian Consul. We trust the
patriotism of the possessor of this trophy will induce him
to present it to the United Service Museum.
SIR JOHN SOANE'S MUSEO3I. Yesterday, after a
vacation of nine months, the col!ection of models, books,
T:wilatings, drawings, and works of art contained in Sir
John Soave's museum, Lincoln's-inn-fields, was opened
to the inspection of the public, and free access will be
afforded on the Thursday and Friday in each week till
the end of the month of June to all persons who apply
previously, by letter or personally, for tickets of admis-
ion.

PE3fBROKE DOCKYARD.—The reductions consequent
on the peace have been carried out at this yard. About
200 joiners, sawyers, shipwrights, and labourers have
been dismissed, and of these 60 shipwrights have been
removed to the other establishments. The contractors
have also considerably reduced the number of men in
their employ. Mr. Smith has discharged a hundred, so
that altogether there has been a very considerable re-
duction in the number of hands employed. The system
of task work has also been abolished in Pembroke Dock-
yard, and, instead of each mechanic being allowed to
earn as much as he could, he will now return to his
reguler weekly wages, which, however, will be 275. in-
te,ead of 245., as before the war, for skilled shipwrights.
THE SUNDERLAND ELECTION AND MR. HUDSON.—L
appears that George Hudson, Esq., M.P. for Sunder-
, land, is still haunted by the fiends of the law, owing to
unsatisfied judgments, amounting to upwards of 100,0001.
which are still standing out against him. Consequently,
on the nomination day (Friday last), at Sunderland
election, his ex-Majesty was seized upon by a sheriff's
officer, who served him with a writ for a considerable
amount ; but Mr. Hudson laid claim to being exempt
from the pains and pevaLies of the law under the
peculiar circumstances in which he was then placed
as a candidate. The officer of the law found
that he had no real power to arrest his ex-Majes:,y, and
took his departure ; at the same time lee kept a sharp
look out on the state of the poll, so that if Mr. Hudson
had lost his seat he would undoubtedly have been ar-
rested, and placed within a debtor's cell ; but at the close
of the poll his ex-Majesty was again fortunate enougi ,
by a rapid coalition, to come in second in the race, and
had a narrow escape from the British bailiffs. It is
hardly expected that the hon. member will be able to take
his seat in Parliament ; for all the splendours of the iron
crown, the country seats, and the enchanted man,ion of
Albert-gate, have passed away, and left the ex-King
very poor.—Northern Daily Ixpress.
THE KIDDERMINSTER ELECTION RIOTS.—The town of.
Kidderminster is still in an excited state, aid, although
a portion of the military brought down on Saturday
night have returned to their quarters, it is still consi-
dered necessary to retain the residue in the town some
time longer. Mr. Lowe, we regret to say, is still suffer-
ing severely from the injuries inflicted upon him by the
brutal mob. The two men apprehended on Monday,
and remanded on a charge of rioting alter the Riot Act
had been read, will be brought up today before the
Mayor and magistrates at Kidderminster, and at the
same time it is expected that a number of the ringleaders
in the outrage on Saturday night will be apprehended
and brought before the authorities. The police have
been actively employed all the week in inquiries, and
have been assisted in their object by a small staff of de-
tectives. The most determined efforts will be made to
ascertain who were the originators of the attack upon
Mr. Lowe, and a subscription to a considerable amount
has been raised for defraying the expenses incident to a
prosecution of the malefactors. A large reward is also
about being offered for the detection of the most active
assailants of Mr. Lowe and his party. The friends and
supporters of Mr. Lowe are even now nightly subjected
to insults and annoyances on the part of the weavers,
who, notwithstanding the presence of the military in the
town, do not scruple, on meeting any gentlemen who
have distinguished themselves as supporters of Mr. Lo we,
to insult and " bonnet" them in the public streets. The
respectable people of the town, however, whether op-
posed or favourable to Mr. Lowe, denounce the attack
on Saturday as reflecang a lasting disgrace on the town.
A " DIFFICULTY' IN THE MISSOURI LEGISLATURE.—
It is only a short time since we chronicled an emphatic
knock-down in one of the Houses of the Missouri Legis-
lature, which was followed by the drawing of a bowie
knife. We have now a similar incident to relate. A
few days since, just before the vote on the Bank Bill was
taken, Mr. Albin, of Gentry, in a personal explana-
tion, made some harsh strictures on Mr. Singleton, i f
Andrew. The rest of the story is thus toll in the In-
quirer's legislative report:—" He e Mr. Singleton, of
Andrew, rose from his seat and advanced to the side of
his desk, towards the left centre aisle; when he arrived
at the front edge thereof, he, with his right hand,
grippled for his inkbottle ; a second clutch secured
it. Drawing back, he threw it with much force
at Mr. Albin. The bottle, scattering its contents, ail
along its route, struck the desk of Mr. Albin in front of
him, and bounced off, carrying with it a handkerchief,
just glancing over the lace of Mr. Dames, of Sent!,
whose seat is about "in a line with the seat of Mr.
Albin. Upon this, and quicker than we can pen the act,
Mr. Albin drew from his breast a seven-inch Coit's
revolver, which he pointed with unerring certainty, and
which he held with a wonderful steadiness, directly at
Mr. Singleton. Gentlemen surrounding either person
rushed towards them, not, however, until Mr. Single-
ton had stooped down, in the attempt, as it would
appear, to raise a spittoon. Mr. Clover, of St. Louis,
who happened to be near, caught the arm of Mr.
Albin, and at the same time with his left hand forced
the pistol up to the ce'ling. By this time the Speaker col-
lected himself, and ordered the two persons under arrest.
Mr. Albin made some resistance by words, but on the
recommendation of his friends he left the hall in custody
of the Sergeant-at-Arms. Mr. Singleton was not for the
present molested."--Nets 17011 Mirror.

LATEST NE WS.

BERLIN, APRIL 1.

The Emperor of Russia has definitively re-
nounced his intended excursion, Prince Gort•
schakoff, the Russian Minister of Foreign Affairs,
and General Suchosanot, Minister of 'Mr, are ex-
pected here shortly.

Count Cavour rent the Austrian Ambassador,
Count Paar, his passports on the 29th ult. Count
Cavour suspected that the Ambassador was linger-

ing here to give countenance to a belief that he
had been asked by the Sardinian Government to
remain. The situation is becoming daily more
critical and menacing.

The reading of the firman for the installation of
Vogorides Coraki, the new Kaimacan of Moldavia,
took place at Jassy on the 18th ult. Everything
passed off quietly. The Principalities and the
Black Sea are now completely evacuated.

Admiral Lyons, with several men-of-war, quitted
the Bosphorus on the 25th March, for Malta.
The stipulated day was the 30th of March. The
rest of the ships would follow on the 31st.