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

rHE SUN LONDON, SATURDAY EVICifING NOVEMBER 28, 1851,

LATEST NEWS.

CHINA.

We (Times) have received the following letters
by the extra mail brought by the Norma
SHANGHAI, SEPT. 27.
This morning the Norna, 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 " Derby"
is at Tattersall's early in May. Every one is talk-

ng 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 do. They argue that the statistics of silk, the
stocks in England, the stocks in France, a►nd the
12,000 bales actually in. Shanghai, look bad for high
prices ; that the easiest thing in the world to be
supprime 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 11,000 'bales, and also of
his 80,000 bales up country, unless he can 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
civilisation 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 last 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 ►here
wealth was said to have accumulated for a general

"squeeze." The ofEcial 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 English, in one of those pompous false-
hoods which pass from mouth to mouth as coined
wisdom. The Chinese silkworm breeder ought to
have known that if you tread hard enough and
full enough the vrorul 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 wkence they
had been ejected—and now what was, when I
traversed it last month, the most prosperous dis-
trict of China, it being visited with all the bless-
ings of immediate Imperial attention. I should
not wonder if this matter spread, for a Chinamean
will fight for his dollars.
Tea, they tell me, is selling from Gd. to Bd.
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 hear 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—will persevere in
his bad habits under considerable discouragement.

HONG KONG, 00T. 5.

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 despatches the steamer Norma
for Gallo and Suez to-day, and, for the chance of
letters from Alerindria going on before the mail
of the 15th inst. from this. I take the opporo
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. Ido not hear that it is his inten-
tion to proceed north at present.
_ .

The steamer Emperor and three more gunboats

have arrived here.

I am glad to notice that her Majesty's steamer
Furious was at Singapore, and reports that she
left 12 gunboats at Anger ; as it has been a fair
monsoon here for a week or so, we may expect
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 ♦ery
strict bloekade 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 th• Custom-house autho-

rities.
The Russian. steamer... America has left Shanghai
for the Gulf of Pecheli.
•

Pekiu Gazettes Are down to the 27th August,
but do not refer again to outside affair'. 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 lifo and
property was considerable.
The steamer Lily, which wag chartered by the
French Government, returned to-day from the
Gulf of Tonquin. By this opportunity I learn
that a French bishop had beeu decapitated in
Cochin China, and that a great many Christians
wore murdered. I have not been able to got par•

titulars yet.
Here the stocks of manufacture are very light,
and prices show a further advance. Shirtings,
grays, 6.12, sold at 3 doll, and 7.4 at 3 do:a 10c.;
cotton yarn, Nos. 16 and 24, hava been sold at
30 dols. per picul ; Turkey opium, 560 dols.
nominal. Exchange, 4s. 1112-1. to 55,. on Eng-
land ; on India, 224 r. to 2281 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 country teas
have been received.

From Amoy our dates are to the 29th ult.
Teas had advanced in price. No sales of shiitings
reported. Cotton yarn had been sold at
29 dots. 10c. for Nos. 16 and 24.

Fuo Chow advices are to the 29th ult, Tho
price of tea was somewhat lower, as foreigners
were holding off, The great scarcity of Foo Chow

dollars was causing difficulties in settling for teas.'l
Shanghai advices are to the 26th ult.
Shirtings were rather lower. 6i Catty grays
quoted Ti. 2.3 to Ts. 2.3.5. Deliveries of all
kinds only 33,000 pieces.
Lead quoted Ts. 6 to Ts. 6.2.

Teas—The finest kinds of black teas were
fully as dear as previously, but the medium and
good kinds were Ts. Ito Ts. 2 cheaper. The
second crop of teas was arriving freely. Settle-
ments since the 16th ult., 14 chops black tea and
39,000 packages green, the latter at about pre-
vious rates. Six vessels were loading for London
and five for the United States.

Silk.—The first and second qualities Tsatlee
were unchanged in price, but the lower sorts had
given way Ts. 10 to 20. Taysaams were not
much inquired for, and had given way. Settle-
ments, 3,000 bales. Arrivals 45,800 bales, of
which 36,000 bales had been settled. Quotations