The Sun.
London, England, 1844-12-31 00:00:00

MARKET IN TELLIGENCE.

(From the London New Price Current of Dec. 31.)
SUGAR.—The importation of West India has ex-
ceeded that of the former year by 1752 hhds and tierces
and 2870 barrels. Of Mauritius the quantity received
has been large, exceeding that of the former season by
55,091 bags and 1,000 casks. The home consumption
has been very good, the deliveries exceeding those of
1843 by upwards of 50,000 bags and 800 casks. The
quantity of Bengal imported has been excessive, ex-
ceeding that of 1843 by 81,535 bags and 868 casks.
For home consumption the quantity taken was 2850
bas less, but of casks 484 more than last season.
REFINED.—The market has a firm appearance for
Refined Goods; the home trade are disposed to increase
their stocks, and the supply is small, especially of the
low and middling descriptions ; brown Lumps are 72s to
72s 6d, Standard Lumps 73s to 73s 6d; Tittlers, ordinary
to middling 72s to 73s 6d, good 74s to 755, fine 76s to
83s; Hamburgh Loaves 73s to 82s, double 83s to 90s, and
wet Lumps 70s to 71s; fine yellow West India Sugar is
worth 68s, whereas Standard Lumps are only fetching
73s to 73s 6d per cwt. Bastards are not much wanted.
Pieces are in good demand and prices rule firm. Treacle
is wanted ; boiled from West India Molasses has been
fetching 19s 6d to 20s, patent 21s to 22s 6d, and golden
syrup 23s to 27s per cwt. In bonded Crusked Sugar
many contracts have been entered into for forward de-
livery at 30s 3d to 30s 6d per cwt, even at which rates
the refiners are not free sellers. The market has a firm
appearance for Loaves.
MAURITIUS.—There has not been much inquiry by
private contract, but previous rates are supported ; on
Thursday, however, prices will be put to the test by a
public sale of 5,000 bags. Arrivals are on the increase.
'The quality of the Sugar is superior to that of last year.
EAST LNDlA.—Former prices are supported for all
descriptions of Bengal, and several purchases have been
made by private treaty ; the cheapest descriptions are
middling yellow. For public competition 4,000 bags are
announced. There have been further arrivals. The
market is firm for Foreign Free Labour Sugar, and it is
still the cheapest suitable for shipping or refining here
under bond.

FOREIGN.—The market has been in a quiet state, as
is usually the case at this period of the season, but
holders are firm, and none of any description is pressing
for sale. There are some purchasers of yelluw Ha-
vannah rather under previous quotations, but hold, rs
refusing to sell thereat, there has in consequence been
scarcely any business done. The supply is scanty of
brown Brazil. White has been taken sparingly, but the
offers of lower rates are rejected by holders. In the
value of other kinds of Foreign Sugar there is little
alteration to notice.

TEA.—The market has presented a healthy appear-
ance. The trade are still increasing their stocks of black
and green Tea, and none has been submitted to public
competition. Congou has been in excellent request,
common fetching lld to 11#d, and good common 110
to is per lb. Of Pouchung there is only a small
quantity remaining in first hands, and the con-
sumption continues to be very large. Twankay,
is much wanted ; sales of common have been made at
Is 3d to is 31d ; brightish leaf is 4d to is 9d, and Hyson
kind Is 10d to 2s sd. Hyson, common selling at 2s 6d
to 2s 7d ; middling 2s 8d to 2s 9d ; good 2s 10d to 3s ;
fine and very fin• 3s Id to 4s 6d. Young Hyson has been
in excellent request at previous rates. Scented Orange
Pekoe has met with ready purchasers at 3s 4d to 3s 5d
per lb. The parcels of Gunpowder disposed of have
been at firm rates, Imperial is firm in price, and in ex'
cellent request. Other descriptions of Tea are in fair
demand at firm rates, and very few parcels are offering
for sale.

RwE.—The market is still sparingly supplied with
Bengal ; low white fetching 11s to lis 3d, mid Its 6d
to 11s 9d, better 12s to 12s 6d ; the sorts most in re-
quest are those from Ils to lls 9d. For yellow Madras
a good demand exists at 8s to 8s 6d ; for the better
kinds of Java there are not many purchasers.
COFFEE.—There has been more inclination manifested
by the home trade to purchase West India Coffee. In
East India, little variation has occurred. For Ceylon
previous improved rates are sustained, and by private
contract several purchases made in good ordinary at 52s
to 53s per cwt. In Plantation kinds the operations are
upon a more extended scale at former terms. Mocha
has been little called for, but at present it cannot be pur-
chased upon lower terms. In Java very little doing, and
Company's prices are little better than nominal. The
business done in this kind of Coffee has been very small
for some weeks. The ♦alue of Singapore, according to
quality, is 30s to 42s per cwt. Holders of other East
India sorts are not inclined to press sales, price.; ruling
very low, Sumatra being worth only 20s to 245, and
Padang 1.4 s to 29s per cwt.
RUM BRANDY AND lIOLLANDS.—Since our last report
holders of Leeward Island Rum have shown firmness,
and at previous rates there has been a good business
transacted ; sales of proof made at 2s 3d to 2s 31d and
five per ceat overproof at 25 4d per gallon. Deme-
rara 3s to 3s 4d per gallon is the value of strong descrip-
tions. The market has a dull appearance for Jamaica,
3s 6d to 3s 9p is the worth of low and middling, 3s 10d
to 4s 4d for good, and 45 6d to 5s 6d per gallon for fine
and superior. Calcutta at 2s 2d to 2s 24d per gallon,
proof with certificate. A favourable opinions is en-
tertained towards Brandy: Cog, ac, best brands of the
vintage of 1838, hhds 5s 2d, puns ss; ditto 1839,
hhds 4s 11d, puns 4s 9d ; ditto li4o, hhds 4s 11d,
puns 4s 9d ; ditto, 1841, hhds 4s 10d, puns 4s 8d ; ditto,
1042, hhds 4s 7d, puns 4s 5d ; ditto, 1543, hhds 4s sd,
puns 4s 3d, common 2s 8d to 28 11d, and middling to
good middling 3s to 3s 10d, Bordeaux common 2s 6d to
2s 8d per gallon. Geneva for exportation at is 10d to
Is Ild, and fine fit for duty, 2s 4d to 3s 6d per gallon
English Corn Spirits at 10s 2d per gallon, cash.
SPICES.—Mack Pepper is held for the previous cur-
rency, and a fair demand has existed. Sumatra has been
fetching 21-d to 24d, Penang 21d to 2id, and Malabar
2id to 3kd per lb. The market has a firm appearance
for Cassia Lignea, and the purchases made by private
contract have been at fully former rates: ord fetching
52s to 535, good and fine ord 54s to 55s 6d, low mid 563
to 58s, mid 59s to 60s, good mid to good 61s to 645, and
fine 65s to 66s per cwt. In some cases there are sellers
of Cinnamon rather under the rates of the last quarterly
sale, but few purchasers are to be met with.
SALTPETRE.—The market has a firm appearance for
rough, and the parcels disposed off privately have been at
very full prices, common fetching 24s to 24s 6d, mid 25s
to 25s 6d, good 26s to 26s 6d, and fine 27s to 27s 6d
per cwt. The consumption has not been so good
as it was last year, and which is to be attributed
to the low rutes that have prevailed for Ni-
trate of Soda. English Refined has secured a fair sale
at 29s to 29s 6d ; prices at the end of December, 1843,
were 30s to 30s 6d.

NITRATE or SODA.—Holders are firmer, and require
12s to 13s per cwt in bond, but at present there has been
little doing. The market is in a dull state for Guano,
and prices for African are going down.
COCIIINEAL.—'fbere has been a good demand by pri-
vate contract for Honduras, and the rates paid are in
some cases rather above those previously quoted for black
and silvers ; low and mid kinds are the most in request,
and speculators arc still turning their attention towards
the article.

INDlGo.—Speculators are still turning their attention
towards East India. There has been a good business
transacted in Bengal, in censeqaence of the merchants
accepting prices 2d to 4d per lb under those of the
October sale ; low and mid qualitiess are, however, still
the most preferred. Other kinds of East India sell more
freely at a small discount on the rates of the last quar-
terly sale.
TALLOW.—Folders of Russian manifest firmness, and
a fair business has been transacted on the spot ; Y
Candle of first quality has been selling currently at
40s 3d to 40s 6d per cwt ; but for forward delivery there
are few purchasers. In Town Tallow there has been a
good deal doing, but at the moderate rates of 40s Gd to
41s per cwt nett cash ; the market has been well sup-
plied. In the value of other kinds of Tallow there is
scarcely any alteration to notice.

ECOURSE OF EXCH,
Amsterdam CF. 12 6
Ditto, at sight l2 4
Rotterdam 2U. 12 8i
Antwerp
Hamburgh M.B. 13 14
Alton* l3 14
Paris, 3 days' sight 25 70
Ditto, 3 months 25 95
Marseilles
Bourdeaux 25 5
Frankfort on Maine

tNGE.--(THIS DAY.)
Gibraltar..... —
Legkorn .
Genoa
Milan
Venice
Naples ........
Palermo, 1.4 r OZ llBi
Lisbon
Oporto
Rio Jancire
Bahia .. . .
Buenos Ay,,ts
Newrork.:::dyssight
Philadairhia
PRIC/PA r MULLION, PER OZ.
Foreign Cr, ,1,1, bars C 3 17 9
Portsiga: Gvld Coin 3 17 5
New Doul•;eons.
Now Dalars 0 4 9i
Silver in Bare 0 4 11 t

Petsrsburgh, 3Us 37
Berlin 7

Vienna, effee. ft. 3 M 957
Trieste, ditto
Madrid 36}
Cadiz

Bilbao 36
Barcelona 36
Seville —

SPIRIT of the PUBLIC JOURNALS.

FROM THE EVENING PAPERS OP THIS DAT.

GLOBE.—The old proverb that you cannot eat
your cake and have it too, seems reversed by Mr.
President Tyler, in favour of American foreign
policy. He appears resolved to " have" the credit of
cultivating peace and eschewing warlike conquest,
and to "eat the fruits of avowed hostile provocation
to Mexico—a State which had offered none. It is
curious to trace the self-contradictions in this lengthy
manifesto of self-aggrandisement. It is stated to
be unreasonable, because impracticable, on the part
of Mexico, to persist in her efforts to repossess
herself of Texas. This would appear an argument
for letting the Texians alone to deal with her; but no
—the exhaustion of both the combatants would in-
duce the interference of other Powers ; "which, with-
out the interposition of this Government, might even-
tuate in the most serious injury to the United States."
Presently it appears that it is not the exhaustion of
both the combatants, but the excessive vigour of one
of them, that is the object of legitimate apprehension
—and this apprehension, strange to §pT, proceeds
solely from a tender interest for Mexico
"Mexico requires a permanent boundary between
that young republic and herself. Texas, at no distant
day, if she continues separate and detached from the
United States, will inevitably seek to consolidate her
strength, by adding to her domain the contiguous pro-
Tinces of Mexico. The spirit of revolt from the control of

the Central Government has heretofore manifested itself
in some of those provinces, and it is fair to infer that
they would be inclined to take the first favourable op-
portunity to proclaim their independence, and to form
close alliances with Texas. The war would thus be
endless ; or, if cessations of hostilities should occur,
they would only endure for a season. The interests of
Mexico, therefore, could in nothing be better consulted
than in a peace with her neighbours, which would result
in the establishment of a permanent boundary."
It is impossible that Mexico should not be sensible
of this tender care for her interest ; and that she
should not feel that the United States, whose Execu-
tive would annex Texas with so little ceremony, are
likely to form much safer and less encroaching neigh-
bours than Texas, single-handed ! Particularly,
when—throwing off the thin veil of concern for either
party—President Tyler comes to the real motive for
this attempted crowning measure of his :
" American interest would seem to require it. The
extension of our coastwise and foreign trade, to an amount
almost incalculable—the enlargement of the market for
our manufactures—a constantly growing market for our
agricultural productions—safety to our frontiers, and ad-
ditional strength and stability to the Union ; these are
the results which would rapidly develop themselves
upon the consummation of the measure of annexation."
Presently, the moral face is put on the whole trans-
action :

"We seek no conquest made by war. No intrigue
will have been resorted to, or arts of diplomacy essayed
to accomplish the annexation of Texas. Free and inde-
pendent herself, she asks to be received into our union.
It is a question for our own decision, whether she shall
be received or not."

No intrigue resorted to, nor arts of diplomacy es-
sayed ! This is really too good, in the face of the
testimony of successive observers of those arts and of
those intrigues. Read any traveller in those regions,
from Featherstonhaugh to Mrs. Houston. The latter
writer gives a story on this head, so good that it
should be true, whether it is or no. "We were
privately informed by a person worthy of credit,
that a negotiation for the sale of Texas, and to
which he had been a party, had been on the point of
being concluded between America and Mexico. The
latter were to make over Texas, for a stipulated sum,
to the United States. The transaction, as he assured
us, was all but concluded, and the papers required
only the signatures of the respective Presidents, when
the person charged, on the part of the Americans, with
the necessary documents, thought he might first as
well do a little business on his own account. In-
stead, therefore, of proceeding direct to Mexico,
he betook himself to Texas to purchase land ; be-
ing induced to do so by the knowledge of the value
to which land would rise, immediately on the con-
clusion of the sale. This detour was the cause of con-
siderable delay, and in the interim events occurred
which rendered the projected compact impossible,
and altered entirely the aspect of affairs." President
Tyler's involved narrative gives it to be supposed
that more than one slip has occurred, between
cup and lip, in this matter of Texas. Mrs. Houstoun
reports the talk of Texian politicians on the pro-
bable destiny of the country. " The future fate of
the country, and its probable annexation to some
other Power, was discussed; but what Power was it
to be ? that was the question. France, they declared,
had been most anxious to obtain possession of them,
but her propositions had not exactly suited them, and
the affair had ended. England, they seemed to think,
would be the most eligible country on which to lean,
but it was doubted, and that very generally, whether
that Power would have anything to say to them."
All this is loose enough talk ; but talk which was
heard on the spot in question. The objects of the
American annexation party (besides Mr. Tyler's ten-
derness for Mexico and for peace) lie on the surface.
The Southern States see in r exas a superior soil and
climate to their own, superior advantages for the pro-
duction, and superior outlets for the disposal of their
own staple products. The present Anti-Commercial
Tariff of the United States could not stand a day in
the face of a liberal commercial tariff of the indepen-
dent republic of Texas. But it is not merely a tariff
question. All communities depending on slave-labour
—depend on perpetual migration to, or annexation of,
new and fertile fields for its working. It is becoming
unprofitable in the States. Texas offers an apparently
inexhaustible field for its further operations ; and the
parties who have already inoculated that new region
with the taint, pretend that the labour of blacks alone
is available—owing to the climate. There is probably
about as much truth in this as in other such
allegations ; but what is very certain is, that
the older States may, for some time longer,
reap profit as slave-breeders and slave-dealers,
which they are in great measure ceasing
to reap as slave-cultivators. To the slave-interest—
the interest of that great domestic institution which
—by force of combination, and acting en masse,
domineers over all others in the United States—it
cannot be indifferent whether this new territory is
peopled by independent producers—commercial
rivals, under better commercial auspices—and per-
haps even abolitionists of slavvery—or by subjects of
the same tariff as themselves—sure customers for
their surplus slaves, and fresh recruits to their already
predominant cause in the Union.
STANDARD.—We had laid aside our first pur-
pose of alluding to the Bishop of Exeter's reply to
Mr. M. Phillipps, in the determination not to be par-
ties to the continuance of a painful and dangerous
controversy. We have been compelled, however,
to resume our original intention by information
that Doctor Pusey has been since invited and per-
mitted to preach at Clifton. Clifton is not, indeed,
we believe, in the diocese of Exeter, but in that of
Bristol. As the Bishop of Exeter's argument, how-
ever, justifying the permission to Dr. Pusey to preach
at Ilfracombe, probably led to the invitation to the
Rev. Professor to preach at Clifton. The duty of a
Bishop, as laid down by St. Paul, requires before all
things that they who are to teach be men of sound
doctrine. [See 1 Timothy, i. 3, &c. ; 1 Titus,
11, &c.] The Bishop must not only preach
sound doctrine himself —he is required to
" stop the mouths of those who teach what
they ought not." 'This is, we say it re-
spectfully, the most peremptory, and incom-
parably the most dignified and useful of the episcopal
functions. Now, Doctor Pusey has been convicted
by competent authority of preaching unsound doc-
trine ; and it necessarily follows that it is the duty of
every bishop to "stop his mouth" as a preacher; not,
certainly, to invite him, or to connive at inviting him
to preach. The Bishop of Exeter, indeed, intimates
that Dr. Pusey's conviction is void, because in his
opinion, the Reverend professor was not fairly heard;
this, however, is a reason that will not stand
in law—still less in substantial equity. With a pro-
test that Dr. Pusey was fairly and statutably tried,
that he had a fair hearing for his own defence, though
not for the defence of his heresy in a formal thesis,
and that he was statutably condemned—with this
protest, we say, that with the order of the trial at
Oxford the Bishop of Exeter had nothing to do. It is a
rule of law, admitting of no exception, that the judg-
ment of a court of competent authority is, until reversed
by a higher court, universally conclusive. Until lately
there were, and perhaps still there are, some offences
which rendered a man incompetent as a witness.
But was it ever heard that a judge permitted the re-
cord of conviction, produced to prove the party's in-
competency to be questioned, on the ground that he
had not been fairly tried ; or, in one of those cases
in which a second conviction leads to a heavier
punishment, was it ever heard that the record of the
first conviction was allowed to be impeached upon
such grounds ? No, the law presumes that whatever
is done by competent authority is done rightfully ;
and upon the principle of law, the Bishop of
Exeter was officially bound to consider Dr. Pusey as
a preacher of unsound doctrine. Bishops, however,
it will be said, are not bound by the strict legal prin-
ciple. We cheerfully admit that they have a
much wider discretion, but with the enlarge-
ment of their discretionary power unquestionably
extends their responsibility. We contend that
the Bishop of Exeter needed not the au-
thority, of Dr. Pusey's conviction to own the
duty and to exercise the power of "stopping
the rrairuth," in his Lordship's diocese, of the
author of Dr. Pusey's sermon. His Lordship, it
appears, paid some attention to the proceedings
against the sermon at Oxford. It cannot be doubted
that a man so truly zealous of justice, and so
pious, as the Bishop of Exeter, carefully read and
candidly considered the composition which
was the subject of these proceedings. As little
can it be doubted that a man of the Bishop of
Exeter's characteristic generosity and courage,
having applied his powerful mind to the discourse,
and having come to the conclusion that it
is not unsound in doctrine, would openly avow
that conclusion in vindication of a man, whom,
upon the hypothesis, he must suppose to be
treated not merely with formal but with substantial
injustice. These consideration conduct to the un-
pleasant conclusion that the Bishop of Exeter was
aware of Dr; Pusey's unsoundness in doctrine when
he permitted him to preach at Ilfracombe. Indeed,
the caution which he says he gave upon the occasion,
proves that the Bishop was aware of Dr. Pusey's un-
soundness, or, which is nearly as strong an objection
as unsoundness—the uncertainty whether he was sound
in doctrine. But the character of Dr. Pusey's doc-
trine, surely; did not depend upon the single sermon
upon which issue was taken at Oxford—because
it was most convenient to take issue upon a single
publication. Doctor Pusey has been a principal
contributor to those " Tracts for the Times" against
which the Bishop of Exeter protested with so much
eloquence and vigour : he is now occupied in preparing
for the press no less than 17 Roman Catholic religious
works in contempt of his engagement to the BisL op
of Oxford—he is so notoriously the leader of the Ro •
manising sect, thg.t hp has given to it his name. how
then would any Bishop who held the doctrine of that
sect to be a heresy, or even the occaaiQn of a schism,
consider Dr. Pusey a person sound in doctrine ?
SHIPPING GAZETTE.—A writer in the Friend
of China has taken upon him to show that, notwith-

standing we are bound by treaty to give up posses-
sion of the island of Chusan to the Chinese authori •
ties in a very brief period, it would be very desirable
if we could, somehow or other, contrive to keep
possession of that island. The Friend of China
seems to us to be talking in a strain of
very equivocal friendship. He say s, " From
its insular position, excellent harbour, healthy
climate, and proximity to the main land of
China, Chusan possesses advantages which pecu-
liarly fit it for the head-quarters, in this part of
the world, of a great maritime and commercial
people. In all this the Friend of China fixes his eye
on the interests exclusively of a great maritime
and commercial people, which manifestly does not
form an integrant part of the population of the
Celestial Empire. He is addressing himself, m t
to the Chinese, but to us outside barbarians ; evi-
dently with a feeling to persuade us that it would
be very much to our interest to retain possession of
a piece of foreign territory, which we hold mo-
mentarily under solemn stipulation to restore to the
rightful owner at a prescribed period. Upon the face of
the proposition there is spread too glaring a Machiavel-
lian colouring, too palpable a tinge of the Thiers mo-
rality on the restitution of Ancona, for us to adopt the
thing at first showing, aiself-evident and unquestion-
able. The very first consideration with us as a people,
the paramount duty of our Government in its relations
with that of China, are to show an unhesitating resolve to
abide strictly, even to our detriment, to the very
letter of a treaty. Is it for us to let in a limping
morality, in our public dealings with a people which
has been taught hereditarily to regard us nationally
as inferior to its own population in knowledge
and in civilization ? No ! shame be upon the base
mind which could drop a word that would leave
Chinamen ground to suppose, that we were less
scrupulous about the fulfilment of an engage-
ment, than we were jealous in the vindication of an
asserted right. In our diplomacy with this singular
people a much higher obligation rests upon us than
that of a pertinacious pursuit of our own interest ;
we have to convince a nation new to us in the freedom
of commercial intercourse, that we are a people whose
public pledge is sacred. Give up Chusan at the very
moment that you have stipulated so to do, and then, if
mutual interests of the two nations indicate the fitness
of a permanent British settlement upon that point of the
Chinese territory, institute new negotiations with the
view to bring about such an arrangement ; but above
all things, let us not hear of retaining it permanently
as a colonial possession, on account of its pecu-
liar fitness to be the head-quarters, in that part of
the world, of a great maritime and commercial
people ; and therefore the more imperative is the
obligation on our Government to show, while it
manifests on fitting occasions the greatness of our
power, that we are a nation jealous of our good
faith. Whatever further facilities for the extension
of our commercial dealings with the people of China
beyond those obtained by the recent treaty may seem
requisite, we must look for them only by the free
concession of the Chinese authorities, which, it is to be
presumed, will only be led to concede them
on a fair showing of reciprocal advantages
to result from the new grant. As to the supe-
rior eligibility for commercial purposes of Chusan
above Hong-Kong, it is possible that experience
and more deliberate observation may have dis-
covered it; yet we are still inclined to hold to the
opinion th .t the judgment of the eminent individual
who managed the entire negotiation, and gave his as-
sent to the various stipulations, was more mature, and
confirmed by more comprehensive views, than we are
warranted in considering that of the present writer in
the Friend of China. There are some indications in
the writing betlire us of a capacity which we should
say was not fully competent to embrace a wide scope
of national, or even commercial policy. The docu-
ment in question does not impress upon us the
emanation of a master-mind. It speculates too ad-
venturously on political improbabilities, draws deduc-
tions from superficial views of existing necessities, and
calculates too freely on the possible rupture of esta-
blished relations, and on the subversion of accustomed
order. And moreover the writer shows that this specu-
lations are not more firmly fixed upon the channels
through which the cash of the Celestials may here-
after he made to flow, than they are upon the
creed which they may be asked to adopt. We warn
the writer from indulging in the momanical halluci-
nation, that traders in tea and hardware are infallible
doctors in speculative divinity. .Ne sutor ultra crepi-
dam. It is possible, that as a trading station, Chusan
may be somewhat more commodious for intercourse
with the eastern and northern ports of China than
Hong-Kong; but Hong-Kong is more on the line
of established trade; it is better adapted to that
which is, than to that which may be. Then, the
harbour of Hong-Kong is safe, commodious, and of
easy access; whilst that of Chusan, according to the
reports of nautical men of sound judgment and of
long experience, wha have well examined the localities,
is one of the most difficult of approach. The ehow-
chow waters of the entrance to Chusan harbour are
notorious to the navigators of those seasons ; and have
impressed on the minds of sailors a wish to avoid them
a little more strongly than they appear to have operated
upon the nautical judgment of the Friend of China.
Of the insalubrity of Chusan for European residents,
we have not forgotten the dismal reports of our first
possession. Other proofs than those adduced by the
Friend of China of the super-eminent desirableness of
Chusan as a permanent commercial British station,
must be adduced, before we can think it expe-
dient for our authorities to petition the Chinese
Government for leave to have a factory perhaps in the
island. In the very recent settlement of disputes,
we have solemnly acceded to certain conditions, among
which was the acceptance of Hong- Kong as a trading
station, conceded to us by the Emperor. It would be
little becoming our national dignity, and as little con-
sistent with respect to ourselves or to the parties with
whom we have been treating, for us to break out now
and say, " We won't have that, and we will have this."
Such is not the conduct of adult and cultivated minds.
Immense interests, in both countries, are now de-
pendent on the amiable prosecution of a recipro-
cally beneficial commerce between Great Britain and
China ; and the diplomatic intercource between the
countries will demand the most ample demonstration
of mutual respect, and on our side the most marked
observance of national rights. We have latterly put
forth our strength rather rudely towards an un warlike
people, as a demonstration of our power till then un-
known to them. We must not henceforth presume
to bluster with them as superiors; but use our best
endeavours to shew them that we consider them our
equals in civilisation, and entitled to the like consi-
deration with ourselves in the community of nations.
Our intercourse must be based on a recidrocity of
interests, and be cultivated under a sedulous regard
for each other's independence.