The Sun.
London, England, 1868-10-28 00:00:00

TIM SUN, LONDON, WEDNESDAY EVENING, OCTOBER 28, 1:L68.

have been empoyea, ana tne eunuitiOUS GT Melt em-
ployment generally, were little known to the public
until the labours of the Children's Employment Com-
mission disclosed the painful fact that in Bedfordshire,
the evils of child-labourwere being perpetrated in their:
worst and least excusable form. "To such an
extent had the practice been carried, that there were
not wanting persons to declare that the occur-
rence of a period of distress, such as the present,
which should have the effect of reducing the
demand for child-labour, would ultimately,
for that very reason, be found productive
of good moral and social results." The children are
taught to plait in " plait-schools "—where they learn
little, if anything, else. At three years old, in some
cases, children are set to work ; the general rule is
four-and-a-half. The school-rooms are close, small,
and unhealthy. In some places the rooms are so
closely filled that in winter the fires cannot be
lighted. To remedy this, and protect themselves
from cold, the children have small pots of earthen-
ware or tin, containing bits of wood or coal, which
they keep in their laps while at work. When young
the children learn to plait ; while growing older they
are set to plait; their whole mind is developed on
plaiting. What wonder, then, that those who go
into Bedfordshire are—like Mr. Charles Knight and
the Rev. John Cleio•—astonished at the early immo-
rality and the extent of it. It is to be hoped that
great vigilance will be exercised if these plaiters go
to work again, to prevent the continuance of this
monstrous system.

atrocities laid to the charge of the rarag,uayans really
have been committed. Mr. Washburn, the American
Minister at Paraguay, has addressed an energetic note to
Lopez. This is supposed to refer to the violation of the
United States Legation at Asuncion, when forty persons
who had sought the protection of the American flag were
forcibly taken away.
Much excitement has been caused at Rio by an order
from Viscount Itaborally, the Prime Minister, to stop
all despatches in the Custom House until further notice.
It is supposed that information has been given to the
Government from Manchester that certain exporting
houses were in the habit of defrauding the Customs by
packing their goods falsely, the method adopted being the
old one of packing valuable articles in the centre of a bale,
outwardly enveloped in merchandise of an ordinary
character and liable to low duties.

proud of their three successive Queens, the grand-
mother, the mother, and Isabella herself. Her
mother also looked after the main chance, and
is said to be one of the richest women in
Europe, her wealth having been chiefly made
in the Cuban slave trade. As, however, the Popes
have, honoured and rewarded these Queens, the
faithful may be content to accept them as patterns
of piety and virtue ; but it is possible that even the
Pope may allow he erred when he gave the Golden
Rose to Isabella, instead of to the Empress
Eugenie, an act which astonished and disgusted all
Europe. -A nglo-American Times.

1110NEY AND BUSINESS.

(From the Springfield Republican, Oct. 10.)

Our report last week left the money market at New
York in the midst of the excitement and confusion pro-
duced by the withdrawal of large amounts of currency, in
the interest of those who wished to break the market for
gold and stocks. As we then stated, the causes of the
stringency were too manifest to make it possible that their
effects could be anything but temporary. Indeed, so ap-
parent was the machinery by which it was brought about,
that the effect at the time was much less than would have
been supposed. There was nothing that deserves to be
called a panic ; and while a certain amount of stocks had to
be sacrificed to meet engagements holders manifested no
disposition to do anything more, confident that things could
get no worse and must soon be better. Consequently the
decline was strictly limited, anda strong reaction took place
even before the money that had been locked up was re-
turned to the banks, as it was, in great blocks, on Satur-
day afternoon, one banking firm in the Erie interest de-
positing between four and five millions. Money has not
yet dropped back to its old rates, but it is easy at 5 to 7
per cent. on call, and the tendency is towards 5 per cent.
as a fair average for the present. Prime paper is dis-
counted easily at 8 per cent. The facts all over the
country remain substantially the same. Rather less money
is going West, rather more is going South after cotton.
The Quarter Day nuisance is over and passed for this
time, and business can now go on for three months b3foro
being strangled again. At Boston the bank statement
was remarkably close to that of a fortnight ago, showing
much less change than might be expected at this season.
" Minute money" can be had at 5 per cent. on Govern-
ment collatorals.. Discounts are made for large deposi-
tors at 63-, for customers generally at 7, and for out-
side parties at 7to 71. At Chicago, the money market
was rather tight up to Saturday evening; but, since Mon-
day, loanable funds have been in better supply, at the old
rates. Eastern exchange is only noticeably active, sales
between banks being made at $2 to 2.50 off per $l,OOO.
At Cincinnati the acts of the market are very similar. The
latest San Francisco advices show an increased activity,
owing to employment of large sums in moving the crops,
with Atlantic bills quoted as before.

Gold has manifested very little activity during the week,
occasionally dropping a fraction below. 140, but returning
faithfully to that figure before night. On Thursday, how-
ever, it kept below that figure, opening at 139 k, and clos-
ing at 1391 to 139 i. The shipments have been comparal
tively light, though reaching the total since January 1 of
$66,268,633 against $41,938,042 for the same period of
1867, $54,167,927 in 1866, and $23,029,538 in 1865. Cash
gold for delivery was particularly scarce up to Saturday,
but is freer now. It is not generally apprehended that
the disbursements for November interest will reduce the
price of gold. Governments suffered rather the most from
the "corner" of last week, aid were off fully one par cent ;
but on Friday there was a sharp recoil ; the decline created
a largeinvestment demand, and before the close of Satur-
day old prices had been made good, and those bears who,
on Thursday, sold short to "help on a good werk,"
and give an impulse to the downward tendency of the
market, have since had the pleasure of s !Wing at a smart
loss. If anything can be certain in the stock market, it
is that the bonds will steadily improve from this time for-
ward in comparison with railways and miscellaneous
stocks.

At New York the import entrios for the wank amount
to $6,733,633 against $4,025,402, for the same week last
year; the export clearances of domestic produce to
$2,676,708, against $3,330,163; the expert of specie to
$283,123, against $297,429. The customs for the week have
bean $2,408,129. The gold values of the import entries of fo-
reign merchandise at New York since January Ist are
$195,929,665, against $204,650,701 for the same period of
1867; the currency value of the exports of domestic pro-
duce and misc.3llane.ous goods, $122,155,468, against
$137,055,226 ; the exports of specie of all descriptions
$66,268,633 ; the deliveries of California gold and silver
$31,659,067. The impOrts at New York for the last two
weeks amount to nearly two millions and three-quarters
of dollars in gold over those of the same period of last
year, which certainly does not look much like a falling off
in our customs receipts. The export; continue small,
though the shipments of cotton direct from the Southern
ports, and of wheat from California, aro on the increase.
Tho advance in freights has a decided influence in prevent-
ing produce from going forward, in the present unsettled
condition of the produce markets.

The stock market, recovering very early from the effects
of the "corner," has d iveloped a strong upward ten-
dency, with a rapid advance in some old acquaintances,
though recently anything but favourites of the market.
Pacific Mail Steamship Company, a month ago was at
102, and a week ago at 111 i, closes at 1273. The advance
has been due to the prevalence and acceptance of reports
of a settlement with the Webb opposition. So many
similar rumours had been already discredited, that the
reiterated statements for the last fortnight of an equitable
adjustment have been received with great suspicion.
There is, however, no longer any reason to doubt that a
substantial agreement has been reached by the high
contending parties; which, whether it proves for the ad-
vantage of the public, will fully gratify the appreciation
of the stock by its holders. Nothing official has been
published as to the terms of adjustment, bi:t they will
unquestionably be such as to relieve the companies from
their exhausting competition. Last year the main
facts of the mail company's financial statement wore as
follows: receipts, $7,639,708 ; expenses, repairs, and im-
provements, $4,996,194; profits, $2,643,514 —equal to
13.22 per cent. on a capital of $20,000,000. Surplus cash
means on hand, $7,250,000; liabilities, $1,263,826. This
year it will be a different story. Their China business
is known to have lost them a great deal of money, and the
Webb California opposition has kept every nerve strained
on that line. They have made no dividends yet during
the year. The election of officers occurs next month, and
the new arrangements will probably be completed at that
time. There have been heavy dealings in New York
Central and Fort Wayne railroads at higher figures ; Cen-
tral selling up to 1301, but closing lower, and Fort Wayne
selling as high, ex dividend, as it did a week ago, di-
vided on. A great deal of ill feeling has been ex-
cited 'against the Erie road by the participation of
its managers iu producing the late "corner," one of
its directors being a leading member of the firm which
locked up $4,000,f 00, just as this concern locked up
$8,000,000 at the time of the great "railroad war." Loud
threats are made of a combination not to bring freight
over this road, while, more sensible still, is the determi-
nation of the English and many American holders of the
stack to contest the early closing of the transfer books,
with a vi©w to the election which comes off next week.
If anything can get this stock out of the hands of gam-
blers and the road out of the hands of thieves it will be a
great blessing to the country. Milwaukee and St. Paul,
both common and preferred, have made another strong
push for par, and close at 98j. Cleveland and Pittsburg
has gone above 88. Reading still rises in favour, helped
by shrewd manipulation, but depending mainly on its
gigantic coal tonnage, averaging for the five weeks
past 105,182 tons a week, against 77,080 in 1867. To-
ledo and Wabash has improved under a capital show-
ing of receipts for September. Western Union Telegraph
touched 38 during the week, and Mariposa California pre-
ferred has steadily gone under speculative encouragement
to 181. Those who want to buy in can. Border State
Bonds suffered considerably in the monetary squeeze, but
recovered with the rest of the market. The debt of Mis-
souri has been nominally decreased five millions during
the week by the surrender of this amount of bonds held
by the Missouri Pacific Railroad. North Carolinas are
now quoted with the 15 per cent. averages of interest, to
July, 18G8, taken up and funded. Express shares are
stronger. The New York Tribune says:—" The meeting
of the associated companies was held on Friday last in this
city, but nothing was done to change the present arrange-
ment, with the exception that the Merchants' Union is to
discontinue a number of its offices, and give up some of its
warehouses, doing a portion of their business through the
other companies. The Adams Company expected to have
had their percentage of receipts increased, but did not suc-
ceed in getting it. The consolidation of the American
Merchants' Union is still in abeyance."
Coincident with the New York corner in stocks, Chicago
has been enjoying a corn-er in corn, as the local journals
delight to put it, which quite eclipses the famous stir in
wheat of a few weeks ago. A great number of failures have
taken pace, and the mourners may be seen at every cross-
ing of the street. As the Chicago Post dramatically ex-
presses it : —" Yesterday afternoon, when the court house
bell commenced striking 4 o'clock, corn was worth on our

streets 51 12 ; when the last peal was sounded, the same
grain was dull at 91 cents." Coal has taken another stride
during the week. The mining for the year bas b3en under
the average owing to labour difficulties, and the supply is
in consequence defective. The Philadelphia and Read-
ing Railroad has advanced its charges for transportation
by an average of fifteen cents a ton over those of last
year. Coal is the very last article in which we can have
patience with a rise in price. lts dearness causes far more
suffering through the winter in our cities than the dear-
ness of bread. It is the one commodity in respect to which,
logically. or not, we sympathize with the consumer, as
against the producer, on account of the misery which re-
sults from its scarcity.

(From the Wall-street Journal.)
NEW Yonx, Friday Evening, Oct. 9.
American bilver is in limited request, at 6 to st cents

below the price of geld. Mexican Dollars are quoted at
1024 to 103 in gold. Mining stocks are very heavy, sand
business continues on a limited scale. The only exception
is Mariposa, which is active, and has considerably ad-
vanced. Petroleum stocks are g3nerally active. Uni ed
States is steady at 82.15. Bennehoff Run has been sold
at 25 cents, and Rynd Farm at 23 cents. Much money has
been made in buying Home and Sherman and Barnedall at
merely nominal rates, and there are many low priced stocks
still to be picked up, which will pay many hundreds per
cent. to the purchasers.

THE PUBLIC DEBT OF THE UNITED STATES.
(Secretary 311‘Culloch's Monthly Statements.)

The following is the official statement of the public
debt of the United States on the Ist day of Oct., 18G8:

DEBT BEARING COIN INTEREST.
5 per Cent. Bonds 5221,588,400 00
6 par Ceut. Bonds of 1881 283 677,200 00
6 per Cent. 5-20 Bunds 1,594,888,600 00

Total 62,10,154,300 00
DEBT BEARING CURRENCY INTEREST.

Three-year Compound Interest Notes
ThreP per Cent Certificates
Navy pension fund at 3 per cent

5,251.930 00
65,230,000 00
13,000,000 00