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

11-1 E SUN, LONDON, W F DNESDAY EVENING, OCTOBER 28, 1 r 68.

Late bean employea, ana Inc conuations or tneir 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-labour were 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 a 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 Cleig—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 raraguayans really
have been committed. Mr. Washburn, the American
Minister at Paraguay, has addressed an energetic no' e 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 Itaborahy, 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 oue 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.—Anglo-American Times.

MONEY AND BUSINESS.

(From the Springfield Republiccni, 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 bo 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, and a 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 before
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 collaterals. Discounts are made for large deposi-
tors at 61, 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 aro 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 compara-
tively light, though reaching the total since January 1 of
$66,268,633 against $41,938,012 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, avid were off fully one par cent ;
but on Friday there was a sharp recoil ; the decline created
a large investment 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 work,"
and give an impulse to the downward tendency of the
market, have since had the pleasure of Battling 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 Now York the import entries for the week amount
to $6,733,633 against $4,025,402, for the same week last
year; the export clearances of domestic produce to
82,676,708, against $3,330,163; the export of specie to
$283,123, against $297,429. The customs for the week have
been $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 8204,650,701 for the same period of
1867; the currency value of the exports of domestic pre-
duce and miscellaneous geode, $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 exports continue small,
though the shipments of cotton direct from the Southern
ports, and of wheat from California, are on the increase.
The 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 1111, closes at 127 k. The advance
has been duo 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, bet 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 were 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, $1,263,823. This
year it will bo 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
tho new arrangements will probably be completed at that
time. There haie been heavy dealings iu 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 in producing the late "corner," one of
its directors being a leading member of the firm which
locked up $4,000,C00, 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
stock to contest the early closing of the transfer books,
with a view 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 981. 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 boon nominally decreased five millions during
the week by the surrender of this amount of bonds hold
by the Missouri Pacific, Railroad. North Carolinas are
now quoted with the 15 per cont. averages of interest, to
July, 1868, 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 place, 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 $1 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 has been 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. its dearness causes far more
suffering through the winter in our cities than the dear-
ness of broad. 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 YORK, Friday Evening, Oct. 9.
Americ is iu iiluitQcl xectqcsty tlt 6 to 6i 011t0

below the price of gold. 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 al-
vanced. Petroleum stocks are generally active. Uni'ed
States is steady at $2.15. 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 Barnsdall at
merely nominal rates, and there aro 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 M'Culloch's Monthly Statements.)

The following is the official statement of tho public
debt of the United• States on the Ist day of Oct., 1868:

DEBT BEARING COIN INTEREST.

5 per Cent. Bonds 5221,588,400 00
6 per Cent. Bonds of 1881 283.677,200 00
6 per Cent. 5-20 Bunds 1,594,888,600 00

Total 52,100,154,300 00
DEBr BEARING CURRENCY INTEREST.

Throe-year Compound Interest Notes 5,251,930.00
Three per Cent Certificates 65,230,000 00
Navy pension fund at 3 per cent 13,000,000 00

Total 583,481,930 00.
➢LATtiRED DEBT NOT PRESENTED FOR PAYMENT.
Three-year Seven-thirty Notes, due
Aug. 1, 1867, June and July 15, 1868 53,537,000 00
Compound Interest Notes matured June
10, July 15, Aug. 15, Oct. 15, and Dec.
15, 1867, and May 15, and Aug. 1, 1868 6,322,070 00
Bonds of Texas Indemnity 256,000 00
Treasury Notes, Acts July 17, 1861, and
prior thereto
Bonds of April 15, 1842, Jan. 28, 1817,
and March 31, 1848
Treasury Notes, March 3, 1863
Temporary Loan
Certificates of Indebtedness 13,000 00

Total 512,440,213 64
DEBT BEARING NO INTEREST.

United States Notes 5356,021,073 00
Fractional Currency
Gold Certificates of Deposit

Total

Grand Total 52,605,238,560 81
Six per Cent. Lawful Money—Bonds is-
sued to Pacific Railroad Company 39,634,000 00

Total debt

$2,644,901,560 81
AMOUNT IN TREASURY

Coin 596,891,817 10
Curroncy 13,365,991 76

Total

Amount of debt, less cash in Trea5ury...52,534,613,718 95
The foregoing is a correct statement of the Public Debt,
as appears from the books and Treasurer's returns in the
Department on the Ist of October, 1868.
Hung M'CULLOCH,
Secretary of the Treasury,
The increase of coin in the Treasury since September
Ist is nearly $9,250,000, independent of the payment of
interest on the 10-40's and of sales of coin by Mr. Van
Dyck, amounting to about $2,333,000.
This statement is compared with that of the previous
month, and shows the following :
INCREASE.

5-20 Bonds 53,662,550 00
Fractional currency
3 per Cent. Certificates

Total

DECREASE.
6 per cent. compound interest notes 54,054,900 00
Bonds of 18t7 and 1848
5 per cent. Treasury Notes llO,OOO 00
Gold certificates
7-30 Treasury Notes
---
Total 510,493,670 00
Deduct the increase of $7,818,945 80 and the decrease
of the public debt is $2,674,724 20 ; to this add the in-
crease of cash in the Treasury ($2,615,869 88), and the
total is $5,290,594 80. The bonds issued to the Pacific
Railroad Companies during the month amounted to
$4,320,000. The net decrease of the debt during the
month, including the bouts issued to the railroad com-
panies, was $970,594.
The warrants issued by the Department during Septem-
ber, 1868, for Government expenditure, were in round
numbers as follows :

Civil, miscellaneous, and foreign inter-
course
Interest on the public debt 9,671,475 03
War Department
Navy Department 2,276,762 74
Interior, Pension, and Indian Departments 5,410,005 27

Total

$30,027,731 95

.. . .
The Secretary thinks that the disbursements of the
present month will be lighter than the past, and that the
close thereof will show a further decrease.

We annex the statements for August and September,
1868:

DEBT BEARING COIN INTEREST.
Au Set.
Five per cent. bonds $221,588,400 00 $221,588,400 00
Six per ct bds '67-'6B
Six per ct bds of 'Bl
Six per ct 5-20 bds

283,677,300 00 283,677,300 00
1,583,106,100 00 1,591,226,050 00

Total 52,088,371,800 00 $2,095,491,755 00
DEBT BEARING CURRENCY INTEREST.
3-year Compound
Interest Notes
3-year Seven-Thir-

21,604,890 00 10,595,110 00

ties
3 per Cent. Certifi-
cates 50,000,000 00 62,205,000 00
Navy Pension Fund 13,000,000 00 13,000,000 00

Total
MATURED DEBT NOT PRESENTED FOR PAYMENT.
Matured debt not
presented for pay-
ment 518,099,175 44 $12,635,213 64
DEBT BEARING NO INTEREST.
U.S. notes
Fractional currency 31,867,818 37 31,802,218 37
Gold certificates

Total

Grand total 52,601,373,756 81 $2,607,942,285 01
6 per ct.lawful money
bonds issued to Pa-
cific Railroad Co $32,210,000 00 $35,314,000 00

Total debt
AMOUNT IN TREASURY.
Coin on hand
Currency on hand .„ 26,644,358 23 15,071,070 77

TotalcashinTreasury $110,054,276 14 $107,641,971 98

Amount of debt less
cash in Trea5ury...82,523,534,480 00 $2,535,614,313 00
HUGH 11(LICULLOCIT, Secretary of the Treasury.
NEW YORK RATES OF EXCHANGE,
Oct. 9, 1868.
Sixty Days. Three Days.
London Bankers
London, Prime Commercial lOB —lOBl
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 351-351
Frankfort, 031 4Ol-401.
Berlin and Cologne
Antwerp 5.221-5.181
Amsterdam, Bankers
Swiss
CLOSING PRICES.
PUBLIC FUNDS.

Sixes, 1868, registered • to
Sixes, 1868, coupon to
Sixes, 1881, coupon ll3 to 113/
U.S. Os. Pacific Railroad — to
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon
Five-twenties, 1865, coupon, • new
Five-twenties, 1867, coupon
Ten-forties, coupon lO5/ to 105/
Seven-thirties, 2d series — to
Seven-thirties, 3d series — to
Oregon War Loan, Sixes, 1881
U.S. 5-20 Coupons, 1868 1091:to 109*
RAILROAD AND MISCELLANEOUS STOCKS.

N. Y. Central l2Bl
Erie • 49
Hudson
Reading
Mich. South. &N. I B4
Illinois Central
Cleveland & Pittsbrg 'B7f
North-West
North-West Preferred 89
Canton 49
Rock Island
Cleveland and Toledo 102/ I
_ ._

Fort Wayne
Pacific Mail 126
Atlantic Mail
Quicksilver
W. U. Telegraph
Mariposa Preferred 19.
Ohio and Mississippi 294
Boston Water Power l5
Cumberland
Bankers and Brokers lOBl
M & St. Paul
M & St. Paul Preferred 94
kIORTGAGES. _

RAILWAY IN
N. Y. Central 6s, 1883 95/
N. Y. Central 6s, 1887 92
N. Y. Central 6s, R Est 93
N. Y. Central Cs, Sub'n 92
N. Y. Central 7s, 1876 102
N. Y. Cen. 7s, con. 76 124
N. Y. Cen. 7s, '65-'76 l2l
Erie Ist Mort, Ex 104 k
Erie 7s, 2d Mort, 1879_100
Erie 7s, 3d Mort, 1883 95
Erie 78, 4th Mort, 1880 88
Erie 7s, sth Mort, 1888 88
Long Dock Bonds
Buff. N.Y. &E. Ist 31,'77 9ll
Hud. R. 7s, Ist M, '69-100/
Hud. R. 78, 3d M, '75 101
Harlem Ist M, '6B '72 102/
Mich. C. Ist M, 'B2 114/
Mich. new Ist M Bs, 'B2 114/
Mich. So., 7 p. c. 2d M 93;
N. Ind. Goshen Line '6B 98
Micb.S.&N.l.S.F'd7p.c.lol
111. Cen. 7 p. c,j'7o 116/
Alton & T. H. lst Isf
Alton & T. H. 2d pfd
Alton & T. H. 2d M. Inc Bl
Han.& St.J . Land War ts 108
Han. & St. J. Con 95
Chi. B. & Q., Ist M 112
Chi. & N. West, S. F 96/
Chi. & N. W. Con Cony 95
Chi. & N. W. Ex'n B BB

Ist 11.1 9l
Tol. & Wab. Ist M Ex 9ll
Gt. Western 2d M '93 BO
Mil. & Pr. du Ch. Ist M 100
Gal. & Chic. Ext 101
Gal. & Chic. 2d M 95
Chi. & R. I. Ist M 100
Chi. R. I. & Pacific 7's 94i
Cleve. & Tol. S. Fund 101
N.J. Central Ist M 101
N. J. Central 2d M 1021
Pitts. Ft.W., &Ch.lstM 105 f
Pitts. Ft. W., & Ch.2dM 9B
Pitts. Ft. W., & Ch. 3d M 92
Cleve. & Pitts. 2d M 92
Chic. & Alton, S. F. Inc 9l
Chic. & Alton, S.F.lstM 100
Mil. & St. Paul Ist M 931
Mil. & St. Paul 2d M 9O
Marietta & Cin. Ist M 9ll
Morris & Essex Ist M 100
Morris & Essex 2d M B7
Joliet & Chic. Ist 51 103
Chi. & Gt. East'n Ist M 761
N. Y. & N. H. Gs 9l
Dubuque &S.City,lstM 92
Peninsula Ist M B9
Ohio & Miss. Ist M 951
Ohio & Miss. Con B6
Tol. P. W. Ist M. E. D B4
Atlantic & G. W. Ist M 79

Express Stocks are lower. We quote :
Adams 501 to 51
American.................. 46 to 46k
Merchants' Union, 35 per cent.— 221 to 23
United States .. 46/ to 47
Wells, Fat go, and Co.
... 29f to 30
Latest prices of Silver Mining Stocks, by telegram from
San Francisco, dated Oct. 7, 1868:
Gould and Curry ~. to per foot
Savage 2 *)
103.911ar4)9474i If f 1,, II) 1I I 153 7)

Ophir
1111• ••• ....
8.0 01. • .11
Hale and Narcross ...
... ~. ... 960 ,I
Crown Point 880 71
Yellow Jacket 1,550 77
Belcher 150 ,1
Alpha ... .„ ... ... "'... 1,080 17
Kentuck 272 ft
Bullion 17 ,t
Overman 86 71
Empire Mill ... ... ... ... ... 105 ~
Imperial 111 pr share
Confidence ... ... ... ... —• 40 ;,Amader
Exchequer .., ...
... ...
. Quartz Hill ... "'
Lady Byron ...
Sierra Nevada...

•r 17
~.

(From Messrs. Satterthunite,'s Circular.)
London, Oct. 21.
Tho decline in the premium on gold in New York, reportod
in our last, has continued with little interruption during the
week, and there has been a corresponding rise in
London
Amarican Securities currently dealt i on the
Stock Exchange. United States 5-20's, which were
one time 73 to I, ex Ist November coupon close 721 to so,
the 1865 issue leave oT 71i tog ex coup.. and the 0-4
Sonds 70 to Illinois Central Shares have improved to
96-1 to 07; the monthly returns of this company eviacm:
steady prosperity, the receipts from laud sales for "";
month of September being the large sum of 400,000 &is.,
Fries, on the other hand, on numerous sales, have de-
clined to 31k to +, and leave off weak. Virginia Sig pot,
Conti.. have experienced a rise of 2 dols., and aro las"
quoted 34 to 36, after touching 38. There have been s°nid:
nearly ali
transactions in Massachusetts Five per Cent. Dollar 900
(principal and interest payable in gold), and inquirics3drgi
springing up about Central and Union Pacific Ben
which are also gold bonds.