The Sun.
London, England, 1861-02-09 00:00:00

TILE 11t .D1.,-1N LOAN.

The India Five per Cent. Loan of £3,000,000 was
contracted yesterday with much more success than
had been anticipated. The minimum price fixed
by the Council was 98k, and it appeared that there
were biddings for a little over £6,000,000 at and
above that point, while there were also applications
on lower terms for about £7,000,000 more. The
biddings at the exact minimum were £636,900.
For the original £5,000,000 India Five per Cents.
contracted on August 23, 1859, the minimum price
was only 97, and the main proportion of the tenders,
which were not greatly in excess of the required
sum, ranged between 97 and 971. Yet Consols
were then as high as 95a. Considering that an
addition of £3,079,000 has in the interval been
made to this stock by its substitution for a like
amount of India Bonds, the result yesterday must
be regarded as a remarkable proof of the manner
in which, in contrast with Consols, it ha 3 feund
favour with the general public. After the announce-
ment regarding the completion of the loan, the price
of the stock experienced a rapid rise. It closed
on Thursday at 99, and went yesterday afternoon
to 1011, closing at 1001 toll. The detailed exa-
mination of the tenders was conducted at the
Bank of England, and the letters of allotment were
issued to-day from that establishment. Among the
tenders was one from Messrs. Rothschild for about
a million at 981. There was one exceptional bid
at par.

SUPPRESSION OF TIIE SLAVE IRADE.

A deputation of noblemen and gentlemen waited

on Lord Palmerston yesterday, at his house, 94,
Piccadilly, to urge the appointment of a Special
High Commissioner to treat with the Kir g of
Dahomey for the suppression of the slave trade, aud
for that of a resident consul at Abbeokuta. Memo-
rials to that effect were presented to the noble
viscount.

Lord PALMERSTON, in reply, said that he received
the deputation with very great pleasure, because he
felt fully the great importance of the subject on
which they had come to him, and because he was
glad to find that subject taken up by so influen-
tial a body as that represented by the depu-
tation. The first great question was that which
relates to the supply of cotton. It is evident
that our supply from America is precarious, and as
yet our mcmufacturers have relied entirely upon
that one source for their supply. He had long
thought that the coast of Africa would, if proper
ercouragement were given, be able to supply as
much cotton as we could want. But in order that
this should be, we must begin by entirely extirpat-
ing the slave trade. Many people imagined that
lawful commerce would extinguish slave trade, but
the reverse is the fact, slave trade extinguishes
lawful commerce—we mast put an end to slave trade.
The chiefs on the African coast derive direct profit by
selling slaves, and only an indirect profit from law-
ful trade; but they do not sell their own people,
but make war on their neighbours to take pri-
soners whom they sell. Much has been accom-
plished towards the suppression of the slave trade.
The slave trade in Brazil has ceased; 60,000 dr
70,000 slaves used to be landed in Brazil, and each
of those slaves represented at least two more, vie-
t;ms of the violence committed in Africa, and of
the miseries of the inland journey and the sea pas-
sage. The Government needs all the support
which associations such as this can give it for its
assistance in labouring to accomplish the extinction
of the remaining slave trade, and if that were done
an immense supply of cotton, as well as other
valuable commodities, would be obtained front
Africa. Lord John Russell entertained the same
feelii gs as himself upon the subject, and he was
sure that Lord John would favourably consider any
practical suggestion which the deputation might
make to him on the matter on which they had now-
dilated.

At the conclusion of the interview the deputation
waited on Lord John Russell at his official residence
in Downing-street, when the same memorials were
presented.
Lord ALFRED CHURCHILL, who introduced the
deputation, said it would hardly be necessary for
him to dwell very strongly upon the necessity which
existed at present for obtaining new sources of
supply of cotton for this country. The society of
which he had the honour of being a member—the
African Aid Society—had directed its attention
to the opening out of the vast country at Abbeo-
kuta ; it contained I'o,ooo inhabitants ; its walls
were 20 miles in circumference, and its kings and
chiefs were ready and willing to receive civiliqa-
tion, and one of them termed himself the friend.
of civilisation. There was a newspaper too actually
published in Abbeokuta, written in the lan-
guage of the country, although it had a supplement
in English. The district extended inland for seve-
ral hundreds of miles, and was the natural land.
where cotton grew. They believed that by ap-
pointing a British consul in that neighbourhood
they would give a great encouragement to legiti-
mate commerce, as it would show them that they
were under some kind of protection. This would
promote the migration of the natives of Canada,
which would tend towards the eventual annihila-
tion of the slave trade. As this country could
produce so large an amount of cotton, it must
materially influence in depreciating the American
market, and consequently the value of slave labour
in the United States would decrease in proportion.
Mr. CLEGG said the cotton produced in Africa
was the best that could be grown, and could be
landed in Liverpool at a much less price than that
of America. He thought, therefore, that every
facility and encouragement should be given for the
development of free trade in that country.
After remarks from Mr. Benner, Mr, Partridge,
Sir Culling Eardley,.Mr. Consul Hanson, and Mr.
Allright,
Lord JOHN RUSSELL said, in reply, he need.
hardly say that he concurred in the general obser-
vations, and, above all, in the general object they
had in view ; but, as it had been observed by Sir
Culling Eardley, this matter must at present be
considered as a germ. Great efforts had been made
by this country, at considerable cost, with a view to
the suppression of the slave trade, and they must
always recollect that efforts had been made in other
directions, under the sanction of the various
Powers, to endeavour to keep it up. With re-
gard to the appointment of a consul, the cotton
district of Abbeokuta was a very good province,
and it was very gratifying to find that palm oil
and various other productions had so considerably
increased for some years past; and if the appoint-
ment of a consul could promote the interests
of its commerce, the Foreign Office would
inquire into the particulars respecting it. They
were obliged to look with a view to the public
service, and the various reasons and regulations by
which we are generally bound ; but supposing there
was no objection to that course, he should certainly
be most happy +o fall in with their views. With
regard to the King of Dahomey, he was sorry to
it was not the single obstacle. They found in
several parts of Africa that efforts were made to
carry on slavery. But that was only a part of the
question, and with regard to the general question
he should be most happy to assist them. Perk ape
they would believe him when he said i
fin Y
he could make the smallest advance towaanrclawtale
hexatpicTomdoofsot.he(gazs.tcade. he should be most
w deputation then____ked his lordship, and theft