The Sun.
London, England, 1850-05-16 00:00:00

S
MAY 16, 1850.

the protection. and free navigation of the canal,
and the neutrality of the country through which
it may pass, as also of the sea within a reason-
able distance of either terminus to the route. Both
nations mutually pledge their faith that they will
not take, use, hold, occupy, or exercise dominion
over any part of Central America henceforth and for
ever; nor will they establish or maintain any fortifi-
cations or military posts upon or within said country.
The two Powers also agree to protect and secure the
operations of such company as under the authority
of the State of Nicaragua shall construct and main-
Stain the proposed ship canal.
The Atlantic and Pacific Ship Canal Company of
this city, who now hold the contract with Nica-
ragua, have lately completed preliminary surveys
of the St. Juan, and have made such arrange-
ments as will enable them by the middle of June to
open the route for passengers to the Pacific, while at
the same time they have commenced such negotia-
tion as will enable them to forthwith organize their
future plans for constructing the great work with as
little delay as possible. Apart from the value this
-stock must derive through the powerful protection
afforded to it, the various sections of land granted by
Nicaragua to the company cannot fail' at an early
period to become very valuable property.
The effect of this treaty must be to render the un-
cultivated and revolutionary States of Central Ame-
rica a prosperous and fertile country ; while between
the two contracting Powers it cannot but prove a
bond of peace and an union of interests, the benefi-
cial effects of which will be felt throughout the
habitable world.

The Senate have also been engaged in an im-
portant debate regarding the insufficient means of
coinage at the United States mints. In the course of
discussion it was stated that there is now in the Phi-
ladelphia Mint 8,000.000 dolls. worth of bullion wait-
ing coinage ; this sum, added to that which lies in the
sub-treasuries, makes 17,000,000 dolls. of unem-
ployed money. The object of the debate has been
to provide for the establishment of a mint in this city,
and to authorise the payment of parties depositing
gold-dust, without forcing them, as at present, to
wait till it can be coined. These facilities are much
wanted, and the granting of them, which is not
doubted, will, it is supposed, divert to this country
part of the gold which is now shipped from the
Isthmus direct to England.
The advices from Puerto Cabello are to the 6th inst.
The threatened blockade of the coast by Lord Dun-
donald had been averted by the promptness with
which the Venezuelan Congress engaged to pay within
eight years 800,0001. claimed by British subjects for
loss of property and imprisonment during the late
revolution.

The present conveyance is the first of the American
line of mail steamers between this port and Liverpool.
A trial trip made last week was considered perfectly
satisfactory. The hull is constructed on a peculiar
model, and is considered an improvement for mer-
chant steamers, but not so well suited to sailing ships
or war steamers.

Reliable private accounts from New Orleans to the
17th inst. state that there was almost a suspension of
cotton shipments to Liverpool. Several vessels had
sailed only partially loaded, while room was offered
in others at 3-16 d. The shipments for the previous
15 days to England had been 29,000 bales, against
84,000 last year during the same fortnight.
Telegraphic news to the 23d inst. has been since re-
ceived, giving the deficit at all the shipping ports as
compared with last year on the same date at 574,000
bales. The total export since September 1 has been
980,000 bales; during the same period in 1849 it was
1,528,000 ; and in 1848, 1,180,000. It is estimated
that the shipments to England this season cannot ex-
ceed 950,000 bales.

Important as this may be considered, its bad effects
would be sensibly diminished if the prospect for the
next crop were what ought naturally to be looked for,
considering the high prices obtained for the present.
Daily intelligence is, nevertheless, conclusive that the
season has thus far been unfavourable for planting,
that it is fully one month later than usual, and that
much of the land has still to be replanted.
A demand for the China markets has assisted the
holders of manufactured cottons, and materially re-
duced their stocks.

In the public_ funds there has been considerable
activity, and an amount exceeding 1,20,000 dolls.
goes forward by this steamer; prices have conse-
quently advanced, and at 119 United States Six per
Cent. stocks, payable semi-annually, and redeem-
able in 18 years., are only equal to Four-and-a-Half
per Cent. stocks. This price bas already been ex
ceeded for the coupons of 1868, which yesterday sold
at 119 f ; the Six per Cents. of 1867.68 were take■
at 1184 to 1184; Pennsylvanian Five per Cents.,
981; Indiana State Five per Cents., 791 to 794 ;
Illinois Internal Improvements, 48 to 49; New York
Six per Cents., 121/.
Exchange on London, 1084 to 110.
P.S. The Arctic expedition fitted out by Mr.
Grinnell, of this city, in search of Sir John Frank-
lin, will now sail without delay. The petition for
officers, men, and instruments has been granted by
Congress, as will be seen by a resolution which yes-
terday was passed by a vote of 94 to 45. This re-
solution authorises the President to receive the
vessels, and detail from the navy such commission
and warrant officers and seamen as may be necessary
and willing to engage therein ; supply them with
suitable rations for not exceeding three years, and
give the use of all necessary instruments as can be
spared from the navy; the officers and men, in all
respects, to be under the laws of the navy until their
return, when the vessels shall be delivered back to
Mr. Grinnell.—Times Correspondent.