The Sun.
London, England, 1850-10-01 00:00:00

ITALY.

The Grand Duke of TUSCANY has promulgated, in
the official Gazette of the 231, a decree, dated Sep-
tember 21, abolishing the Representative Assembly,
and re-establishing absolute power.
The differences between Rome and Piedmont re-
main unsettled. The POPE is inclined to adopt con-
ciliatory measures, but he is opposed by the Cardi-
nals, who uphold the priests of Piedmont, who are
for the most part agents and spies of Austria, in
their rebellion against the laws of their country. The
Armenia, the organ of the parti-pretre, has the fol-
lowing :-
44 We are authorised to contradict that which some
journals, and e'pecially the Gazetta del Popolo, affirm,
and to state positively that the bishops assembled at
Villanovetta have not ceased a single instant to be
faithful to the principles and convictions proclaimed
by them only a few months since, in accord with all
the episcopacy of the kingdom. They ardently desire
to see a conflict, alike prejudicial to tho spiritual
interests which are confided to them, and to the in-
terests of the State, terminated. All their efforts have
had for their end, up to this women', the accomplish-
ment of this desire; they will not cease to act in the
same manner, but always confining themselves within
the limits prescribed to them by the respect and obedi-
ence due to the Holy Faker, and to the inviolable and
invariublA principles of the holy Catholic, Apostolic, and
Roman Church."

The people, on the other hand, are firm in their op-
position to the encroachments of the priestly power.
The municipal council of Alexandria has adopted
the following resolution :
" The coutvil, applaudinz the firmness displayed by
the Ministry in the execution cf the Siccardi laws, urges
it to psrsevvre, and to present, on the opening of Parlia-
ment, other laws of the same kind, to complete the re-
forms commenced. 7he council also coca ,es the Go-
vernment to distribute and administer the property of
the clergy in a more satisfactory- way."

CAMBRIDGE U:iIVERSITY ELECTION.—CAMBRIDGE,
SEPT. 30.—The writ arrived here on Saturday morning last,
and the Vice-Chancellor immediately issued a notice calling
a convocation for Monday, to appoint a day to supply the
vacancy. The convocation was accordingly holden thie
morning and the Vice-Chancellor thereat appointed Friday
next as the day for the election of Mr. Law's successor.

MONEY and COMMERCIAL NEWS

CITY TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were esti-
mated at from 8,000 to 9,000 bales, of which 1,000
American were taken on speculation. The sales o
priced 200 Femme and Maranham, at 7-il. to 81d.;
1,100 Bahia, at 80. to Bid.; 200 Egyptian, at 81 to
91; 1;500 Surat, at sd. to 61-d.; and 50 Sea island, at
is. 2 L to ls. 3d. per lb.—The Share Market was buoy-
ant, and a good business done at higher prices.
One is almost at a loss to account fur the deficiencies
that exist in England in many important matters that
are well cared for abroad; and few are more generally
felt than those which affect our commercial and monied
interests. On the Continent there are legally constituted
bodies, composed of mercantile men, who can at any
time be appealed to for the purpose of solving technical
or other difficulties, which in this country would involve
a vexatious law suit, perhaps, even, proceedings in
Chancery, or an unsatisfactory arbitration. For years
the extreme inconvenience and pecuniary loss arising
from this state of things has been felt and complained
of, and there have been two or three projects set on foot
for the establishment of a Chamber of Commerce.
Either, however, from the circumstance of the parties
originating the same not being of sufficient standing
and influence, or from the belief that such an institution
was not absolutely requisite, so many separate com-
mittees and companies existing who watch over particular
branches—such as the East India and China Associa-
tion, the Russia Company, the Committee of Bankers,
the Bondhotlere Committees, &c.—tho attempts have
always proved abortive, although no one can deny that
some general classification is desirable, and might be ef-
fected without prejudice to the efficiency of separate bo-
dies. Within the last few days, however, there has
been a movement in favour of an institution that is even
more required than a Chamber of Commerce,
vis.—a recognised tribunal for the disposal of
matters in dispute between business men. The
acquiescence of all the leading firms is expected to be
obtained, and a very large number have already signed
a memorial, of which the following is a copy:—
" We, the undersigned merchants, bankers, traders,
and others of the city of London, have long felt that this
metropolis would derive much benefit from the est tblish-
ment of a Tribunal of Commerce, through the aid of
which disputes, simple in their nature, and often resting
on the usages of trade, might be settled without an ap-
peal to nice and legal definitions, which result too fre-
quently in the ruin of well-intentioned men. We are
confirmed in our long-cherished desire to see such a tri-
bunal established amongst us by language, strong and
undeniable, uttered by the Attorney• General (Sir John
Rotnilly) in the [louse of Commons, via.--' Our system of
law is technical, invented for the creation of costs, and
not to promote the due administration of justice.' Under
these circumstances, and with the view of mitigating
many evils at present existing, we venture to ask your
Lordship, at an early day, to call a public meeting, in
order that the feeling of the citizens of Lonchma may be
fully taken on the subject."
[Here follow the signatures.]
It has been objected that the formation of the pro-
posed tribunal would interfere with the legitimate busi •
ness of professional men, but there seems to be little
force in this assumption, since the plan has been found
to work so beneficially abroad, and few would appeal to
the tribunal until they had first consulted their legal
advisers. The Councils of Prud'hommes in France fulfil
the duties which it is now sought to have performed here
by a Tribunal of Commerce.
Extract of a letter from Messrs. Ponies, Wilson, and
Co., of Bogota, dated 16th August, to the Committee of
Spanish-American Bondholders:—

•' By the present packet the documents on the Cus-
toms, in conformity with the law of Congress. are in part
forwarded, v;z , drafts amounting to 232,465 dolls:
On account of the dividend of Dec., 1848 1103,530
Ditto, ditto, June, 1849

$232,465
'• The Minister of Finance, being ill, was no able to
arrange with the Treasurer-General the packing up of
the remaining drafts for 128,935 dolls.—they will be
sent by next packet.
" It is probable that in England a mistake has arisen
from the :use of the words ' importation duties;' it is
necessary, theref,re, to explain. The law says • Los
billetes serin admissibles,' &c. The literal translation
is as fallacious. The bills shall be admitted at all
the Custom-houses of the Republic and offices for col-
lection of the national revenue, on payment of one-
fourth part of the import duties assigned by the law
for common (or current) expenses which are due or
may hereafter become due. The amount so assigned is
59 per cent. of the whole importation duty; conse-
quently the said bills are only admissible in one-fourth
part of 59 per cent..
" The division made of the import duties is as fol-
lows:

8 per cent. is admitted in a certain class of docu-
ments of the old domestic debt, called
floating debt.
8 „ in documents for balances of the salaries
of the civil ernployds, which the Go-
♦ernment some years ago could not pay
in cash.
8 „ in documents ditto of the military ditto.
76 „ in cash.

100 dollars.
" Of the 76 dollars in cash the following appropria-
tions are made:-
5 dollars for payment of the interest of the domestic
debt.
8 „ ditto ditto foreign debt.
3 ~ repairs of roads, bridges, Scc.
the maintenance cf the lazAretto hospitals.
59 „ current expenses.

76 dollars.

4; In our lc tter of the 19th of April we said the bonds
were to be admissible in part mment of impart
dutie9."

There arrived at ton o'clock this morning, off the
Oust )m-house, the General Sere v.steatti Shipping Com-
pany's vessel Hellespont, Captain Watts, in 16 days 5
hours from Smyrna, including s'oppages at Malt. and
Gibraltar, laden with 140 tons fresh figs, 11,200/.
passengers. This is
specie,
csie% general cargo,of
fruit and g
which e
has t
arrived in the Thames
direct from Smyrna this season. The first cargo was by
the Propontis on Tuesday last, the 24 h ult.
Messrs. M•Nair, Greenhow, and Irving, of Manches-
ter, report that—" From the commencement to about the
middle of the month the market was exceedingly dull
and spiritless, accompanied with a decline in the value,
as will have been noticed, upon both Yarns and Twist;
but upon the arrival, on the 16 h, of more unfavourable
accounts as to the prospects and condition of the grow-
ing crop of Cotton, an instantaneous and animated de-
mand ensued, which led to the recovery, nearly, of the
decline which had taken place upon both Twist and
Cloth in the previous part of the month, with the excep-
tion of that upon 40 inch and other descriptions of
Shirtings. Another effort was made by spinners and
manufacturers this day week to realize an additional
advance in prices, in consequence of further intelligence
which was considered as confirmatory of the preceding
accounts with respaet to the Cot:on crop. But in-
diffrreet success attended this movement, and though
since that period we can notice no material change in
prices, yet the demand has been very limited, with a
feeling in favour of the buyer. The month closes
quietly: Throwing aside other causes which we have
in previous circulars alluded t as marring transactions,
the action of the market throughout the month has been
influenced and stimulated by that of Liverpool as regards
Cotton. With the present value of the raw material, the
progress of improvement must exptrience a material
check. Evidences to this effect are becoming more ge-
neral, as manifested by a large proportion of both spin-
ners and manufacturers, who, from the impossibility of
realising correspondent rates for the manufactured
article, are determining to lessen their productions con-
siderably. This is the necessary alternative. Cloth is
heavier in stock than it was a mouth ago. Yarns are
fully as light as they were then."
The English Stock Market has been very steady, and
with about the same amount of business doing as for
some time past. Consols have realised 961 / for Trans-
fer, and 961 j.Account. Exchequer-bills have been
quoted 635. to 66. J.; and India Bonds, 841. to 87s. pre-
mium. A bargain has been effected in South Sea Stock
at 101.
In the Foreign Market the transactions have been
much more limited, and the quotations are rather flatter,
the settlement of the account having yesterday contri-
buted to the rise. Mexican Bonds are 311 1.
It appears that the mail is not fairly due until the 6th
or 7th instant, though it may perhaps arrive sooner.
Spanish Five per Cents. have been 18i 1. Grenada
Stock is at 18. Dutch Four per Cents. have been 891
ex. dividend.

Railway Shares now the settlement is pretty
nearly accomplished,
do not in every case support the
extreme rise of yesterday. There is, however, a good
inquiry fur North-Western, Black wall, Great Northern,
North Stafford, Oxford and Wolverhampton, and most
of the foreign lines.
United Mexican Mine Shares have rallied to 6f.
QUARTER TO THREE.
Consols ... .% . ... 96t i.
Ditto Account " " ... 96i i

ONE CLOSING
PRICES OF lumina rIIND% O'CLOCK. PRICES.
3 per 0 nit. Consols Annuities...
••••• 9" 78 9634
87 p
In kt ~ Honda. L00M... ........... ..... 87 P
84 p
Ditto und -5r 1,000 f.......... ..... .... 8 il. P
South Sea Stock ...... 10734 1073%
.. ..............
9334
Ditto New Annuities ...... ........ 9534
onsois for Account ................ . ••• 91654:14:Ai. &2d 963 i
F.xch equer Bills.
IMO/. June 63 C 6 P 66 p
...

ONE CLOSING PRICES OF Foltz:oN FUND& CycLOCit• PRICES.
lazilian bonds ......... ..... 89;ve x d
......
Chilian Bonds 6 per Cent
% •
Ditto, 3 per Cent-. 61 ex di ........... 61%
d
%
Danish 1i0nd5,1825,3 per Cent. 76 x
Grenada Bonds, 1% per Cent 18 18
^demean. 5 per Cent. 1846, with Coupons--
Ditto, Ex Jan. Coupons
31% Ditto. Account ................... 3134%
110
ft,issian Bonds ..... . ............ 110
Ditto, 4% 9736 per Cent ............... 97%
,vsnimi) 5 per Cent. 1840 ............
Dittol,)iAvicacoenudnst
Dutch 2% per Cent., 12 Guild. ...
91/4 x d
Ditto. 4 Der Cent. Cortificatee... 891‘ x d 8
CLOsING
PRICES OF
BUSINESS DONE
PAIDPRICE3
RAILWAY SHARES. • AT ONE O'CLOCK.
,kberdeen
...... ......
Do. Preference. Bl •
...... ...........
Amber. Bostor,
and Ee3tern Junction 8 .....w.......
kyrshira and Gal:oway.. 71% — ...............
on the above WablleBJ London.
Belfast & County Down 32
...............
Barks & Hants Extens.
(Gt.Weet. Petr.s per ct.) 6
Birmini,ham and Ox-
ford Janet., calls duly
paid, Or With I guara.n. 20