The Sun.
London, England, 1868-01-01 00:00:00

AMERICAN GOMMERCIAL INTELLIGENCE.

(From Messrs. L. P. Morton and Co.'s Circular).

NEW YORK, Dec. 11.

Since our last advices monetary affairs have remained
in an unsettled condition. The largo curtailment of the
volume of Government currency during the year has not
only produced a limitation of the loanable resources of the
banks, but has also induced an extreme caution, repressive
of discounting o, orations, the result of which has been ap-
parent in a succession of heavy failures. The stringency
thus induced has been aggravated by the withdrawal of
about $15,000,000 of currency into the Treasury, during
November, through sales of bonds and coin.
The uneasiness arising from these causes is, at present,
partially allayed by indications that the contraction of the
currency will be temporarily, at least, 'suspended. The
sentiment of the country predominates strongly against
the continuance of this policy ; the House of Representa-
tives has voted by a large majority against it; the Senate
is understood to sympathise with the action of the House ;
while the Secretary of the Treasury has forborne making
the authorised monthly contraction for November. These
symptoms have produced a feeling of relief in credit ope•
rations; and although the deranging effects of past con-
traction must continue for some time, yet a freer move-
ment in financial and trading operations may be expected
to date from this change of policy.
The financial schemes introduced in Congress have
been so conflicting that it is impossible to_ forecast, as
yet, tie pr9bAl4e 9ograo of ing,islAtion upon questions of

debt, and currency. In view of the Presidential electio
of 1868 both political parties are indisposed to incur the
responsibility of any distinctive financial policy; and for
this reason extreme measures find no favour in Congress.
It appears to be felt that the sentiment of the cauntry de-
mands that something be done to arrest the consequences of
contraction, on the one hand, and to prepare the way for
the permanent settlement of the finances and the recovery
of the specie basis on the other ; and in spite of leanings
toward inflation in the House, it may apparently be
concluded that the course of legislation will be regulated
with a primary regard to these considerations. It will be
observed, on consulting the annexed abstract of the Report
on the Finances, that the Secretary of the Treasury sug-
gests the issue of a six per cent. loan, interest and prin-
cipal payable in coin, and subject to a deduction of one-
sixth of the interest for the purposes of State and local
taxation. Tho proposal has met with little public favour
and perhaps is not at all likely to be ultimately adopted.
In correction, however, of an impression that it is proposed
to make a compulsory substitution of these bonds for Five-
Twenties, it may be proper to state that it is tho idea of
the Secretary to make the exchange optional.
The statement of the public debt, for December 1, 1867,
shows an increase in the net indebtedness of the Govern-
ment, during the past month, of $9,701,301. This un-
usual result is due to the large disbursement of interest
during the month, concurrently with somewhat 'limited
receipts from internal revenue. The statement shows
rapid progress in the funding of the three years obliga-
tions of the Treasury, $49,000,000 of Seven-Thirty Notes
having been converted into Five-Twenty Bonds within
the month; leaving for future conversion only
$285,500,000 of the original issue of $830,000,000.
United States Securities are at present unsettled; in
sympathy with the weakness of the gold premium and the
uncertainty as to what Congress may do relative to the
consolidation of the debt, Some distrust prevails hero as
to tiie probability of the Frankfort and London markets
following the decline in gold; and at present the pre-
vailing disposition is to discount the negative side of the
prospect.

The present tendency of the gold premium favours
lower quotations. The sentiment of Congress upon ques-
tions of finance proves to be more conservative than was
anticipated ; which, together with the failure of impeach-
ment, has deprived the market of its principal element of
strength. I,ast month $25,000,000 of coin became pay-
able by the Treasury on interest account, and on January
Ist about $31,000,000 more fall due. This large supply
of $5G,000,000 within two months steadily depresses the
premium ; and as the period for the January payments
approaches, the premium appears likely to touch yet lower
figures.

Foreign exchange has been temporarily advanced
through the distrust of bills, induced by late failure, ; this
feeling, however, is subsiding ; and, under the expecta-
tion of an early liberal supply of cotton bills, rates are
easier, Sterling 60 days, 1091 to 1091; do. three days,
1091 to 1101 ; Francs, 60 days, 5.161-; ditto three days,
5.131.

(From Messrs. Bowles, Drevet, and Co.'s Circular.)

Paris, Dec. 27, 1867.

As usual at the holiday season but little business has
been transacted at the Bourse. Prices are well sustained,
but without activity.

United States Securities are firm.
We quote :
For the issue of 1862
For the issue of 1864
For the issae of 1865
Our advices from New York are to the 23d instant.
Gold
.United States Bonds, 1862 (currency) loBi
The Bente closes at 6Bf. 65c.
The Italian closes at
Exchange on London

(From Messrs. Belding, Keith, and Co.'s Circular.)

FRIDAY, Dec. 27.
Wo have to report a further advance in American Go-
vernment securities, gold in New Yorleheving fallen to
1331. On account of Wednesday and Thursday be;ag
close holidays on the Stock Exchange, we have but little
to report. Five-Tweities of 1862 opened this morning
72 721, showing an advance of / per cent. There has
been an equal improvement in 5-20's of 1865, which
opened 701 71. Ten-Forties have risen 1 per cent. They
opened this morning 68 681. Illinois Central Th...lwe,y
Shares have, on the other hand, declined 11 per cent.,
and were last quoted 87} 881. There has also been a
decline in Eries to the extent of 1 per cent., the opening
price being 48 49. Atlantic and Great Wes,ern Consoli-
dated Mortgage Bonds have declined 1 per cent., to 18}
191.

A declaration of Fenian principles, under dr.i.e
Cleveland, Ohio, 7th Sept., 1867, by the representaftves of
tie brotherhood in congress assembled, is published in the
New York Tribune of the 13,,h inst. "We believe end de-
clare that freedom—the right to ' lire, liberty, and the pu -
suit of happ:ness'—is inherent to every creature made in
the image and likeness of God, and that, however indivi-
duals, by crime or violations of the law. passed for the
maintenance and well being of society, may fol.:0A any
go tion of those rigets, the enslavement of a homogeneors
people, either by foreign power or domestie tyranny, cat-
not under any csrcutustances be justified. 'the God of
nature, in placing upon the Engl-sh and Irish nations rot
only the disiiuctions ma• ked by differences of nc tiunal cha-
racter, but also natural barriers, which—:n spite of spe-
cial legislation designed to ob:iterate the national:.y of
Ireland—have kept them separate and distinct as poop_
has written on imperishable record the claims of our
country to independent national existence, and made
both earth and sea the witnesses to the inviolabi-
lity of our charter of freedom. Even had any
generation of our race proved recreant, and voluntari y
agreed to surrender their rights as men, the I:mits fixed
to human existence, and the utter inability of man to
legislate for anything appertaining to himielf beyond this
mortal sphere, are the seal and testimony set by the _A:-
mighty Creator on each of his creatures, to teach them,
through all time, that the inalienable and indefeasible
rights imparted with their being must come down to them
undiminished or unimpaired by the follies or the c. imes
of their predecessors. But the title of our people upon
this point is clear and unimpeachab'e. Through over
twenty successive generations they have never ceased to
protest and st►uggle against the plunder of their national
rights. From age to age the legacy of patriotic effort has
been transmitted from sire to son, and the dungeon, the
scaffold, and the battle-field have proved the fidelity with
which the sacred trust has been discharged. The Irish
people of to-clay are still the custodians of that great
trust; and, iu their name, the Fenian Brotherhood has
been organised to demand, and, with the blessing of
Heaven, to achieve, what so many of our race have at-
tempted before—the libe:ation of our country from the
domination of England. We demand it in the name of
every man of Irish blood throughout the whole earth ; and
we desire to accomplish it solely for the benefit of every
Irishman, without distinction of creed, or class, or poli-
tical idea. We claim the land of our fathers for the benefit
of the people whose birthright it is, who love it with a
filial affection, and who, by the eternal decree of their
Maker, have earned, in the sweat of their brows, the right
to live upon, to possess, and to enjoy it. We seek injury
to no man ; our quarrel is not with any class, but with the
Government which has robbed and murdered our people,
and with those who sustain it in its tyranny and usurpa-
tion., If on our onward march to liberty any such oppose
us, arrayed under the flag of the oppressor—which
Las been the symbol of slavery in Ireland, and
is the ensign of the enemy of liberty every-
where—on their heads, not ours, be the conse-
quences. We ask only justice for ourselves and kindred;
and the vindication of that principle requires that an
alien power shall no longer be permitted, undisturbed, to
devour our substance, while those who produce it by their
toil wither and pine in bondage, which at once destroys
their bodies and debases their souls. Our motto is ' Ire-
land—free and independent,' for our own people first ; and
then, when her free will and action are untrammelled and
unquestioned, for the freedom, the elevation, and the hap-
ness of humanity, the world over. In the language of our
executive, Faction we abhor; sectionalism we scorn.'
We seek all the rights that, as men, belong to us, and we
seek them for the Whole of our people; we make no re-
servation, we tolerate no distinction that would divide the
true children of Jreland."

Births.

BARRY—On the 31st ult., at 41, Addison-gardens, North
Kensington, the wife of Edward S. B. Barry, Esq., of a
daughter.

DUKE—On the 30th ult., at 45, Devonshire-street, Port-
land-place, the wife of Sir James Duke, Bart., of s
daughter.

lIANBURY—On the 31st ult., at 21, Portman-square, the
wife of George Hanbury, Esq., of a son.

Marriages.

Boom —HALL - On the 31st ult., at All Souls', Marylobone,
Edwin Carton Both (late of Inglewood, colony of Vic-
toria), to Isabel Gordon Hall, of South Fiel&, Wands-
worth, Surrey.

MuNT--Houßs--On the 26th ult., at Tottenham Church,
Mr. George William Munt, of Stratford, Essex, and of
Shoe-lane, Fleet-street, to Margaret Jane, eldest daugh-
ter of Mr. Robert Hobbs, of Tottenham.
Deaths.

EMBLETON—On the 31bt ult., at Carisbrooke Lodge, Stock-
well, Capt. Robert Embleton, aged 76.
FALKINER—On the 30th ult., Lieut.-Col. Sir Samuel E.
__

Falkiner, Bart., aged 77.
GLASS—On the 29th ult., at Brixton, Joseph Glass, Esq.,
the inventor of tha machine which secured the emanci-
pation of the climbing boys of Great Britain, aged 76.
JOHNSON—Ou the 30th ult., at St. Osyth Priory, John.
Johnson, Esq., aged 70.
WALKER—On the 28th ult., at Breadon House, Croydon,
Anne, wife of Commander Leven C. F. Walker, R.N.,
aged 68.

London : Printed and Published by WILLIAM ANDREWS
of No. 112, Strand, Printer, at Tali Suit Office, No 11:,
nd, in the Precinct of the St, voy, in the County 0
•
Xidtpooz.—Wednesday, lagpry 1, 1864.