The Sun.
London, England, 1850-08-27 00:00:00

LONDON, TUESDAY EVENING, AUGUST 27, 1850.

when the inculpated Act of 1844 had
been carried, and Mr. CARDWELL, also a
member of the ex-Ministry; Sir WILLIAM CLAY,
who had written and published a psmpblet expressing
very decided, views in favour of the Act, and Mr.
RICARDO, s clic, entertained strong hereditary opinions
on the curr eau. question. In fact, it was clearly and
distinctly s'bown that there were fifteen members of the
Committee whose support might be relied on under
any circumsts►nces, while there were eleven who, al-
though not " pledged" in any way, might be con-
sidered as unfs vourable to the Act, although their
opinions varied very considerably in . other respects,
and they could not be expected to co-operate cordially
together.
Immediately after the re-assembling of Parliament
the Committee entered upon its labours. A similar
inquiry was at the same time commenced by a Select
Committee of the House of Lords, which arrived at a
very different conclusion from that of the Commons,
on precisely the same data. Twenty-six witnesses
were examined, two of whom spoke exclusively on
the East India trade, the remaining evidence being
applicable to the Acts of 1844 and 1845. Of these
twenty-four persons, carefully selected, and repre-
senting the most important interests in the United
Kingdom, four only were favourable to the Act, and
anxious to sustain it ; one thought there were disad-
vantages attending it, but did not express an opinion
against it ; while the remaining nineteen witnesses
were strongly opposed to it, and considered that the
safety of the commercial community required its
alteration.
The only supporters of the Act were Mr. Jor►Es
LOYD (now Lord OVERSTONE), the putative parent of
the measure, the Governor and the Deputy-Governor
of the Bank of England, and a Director of the Bank,
who had been Governor in the year 1844, when the
Bill received the legislative sanction. On the other
side were to be found all those deputed by great com-
mercial bodies to express their views and feelings—the
representatives of the London and provincial bankers,
of the Chambers of Commerce of Edinburgh and
Glasgow; the managers of some of the principal joint-
stock banks of Scotland and Ireland; the representa-
tives of the industry of the north, of Liverpool, Man-
chester, and Birmingham; two distinguished writers
on monetary subjects—Mr. Tooica, whose admirable
history of prices attracted so much attention, and Mr.
TAYLOR, the consistent and powerful opponent as well
of the Act of 1819 as of 1844. Arrayed with
these in condemnation of the latter law were
to be found the respected names of SAMUEL
GURNEY, of JOSHUA BATES, a partner in the
house of BARING Brothers, and of JOHN HORSLEY
PALMER, many years a director, and formerly go-
vernor of the Bank of England, all of whom unhesi-
tatingly expressed their decided opinions as to the
absolute necessity of an immediate amendment of the
law, and the impolicy of maintaining the stringent
restrictions imposed thereby.
It it almost unnecessary to say that a body of
evidence was obtained from these eminent and expe-
rienced individuals that would be perfectly conclusive
with any unprejudiced and disinterested persons. As
we have already stated, however, the nature of the
testimony was a matter of but little importance ; it
signified nothing whether it might be favourable or
unfavourable, exculpatory of, or adverse to, the Act—
that was to be sustained per fas aut nefas, " through
good report or through bad report." The Com-
mittee was bound to hear, but not to decide in ac-
cordance with the evidence. The well-selected ma-
jority subjected the opponents of the measure to a
strict and searching cross-examination. But not-
'withstanding the subtlety and ingenuity of the
questions, they were completely foiled in the attempt,
their weapons turned _ against themselves, and
their leaders completely defeated in their intellectual
gladiatorship.
The investigation finally closed. The Committee
refused to hear several gentlemen who offered them-
selves for exlmination. The tyrant majority did not
wish to accumulate additional evidence in opposition
to their own views, and they could not hope to get
favourable testimony. The nature of the report
was then considered, and after numerous di-
visions every position being stoutly contested,
every paragraph being made the subject of
debate and division—a document cf the most mea-
gre and unsatisfactory character, as powerful an illus-
tration of the puny and insignificant offspring of the

.1 parturient mountain" as any of modern days, was

produced. This "most lame and impotent conclu-
sion" to a proceeding heralded by so loud a flourish
of Ministerial trumpets—after stating the names of the
witnesses, and the "general concurrence of opinion that
the primary cause of the distress was the deficient
harvest, especially of the Fotato crop, in 1846,
and the necessity cf providing payment for the
unprecedented importations of food which took place
in that year" (would it have been so, but for the
operation of that most impolitic Act, then on its
trial ?), and " other causes—the deficient 'supply of
cotton, the railway expenditure, and the undue ex-
tension of credit, which were stated by some of the

witnesses to have contributed to the same result"—

declared that the Committee " saw no reason to

doubt that these causes had in different degrees, and
in different parts of the country, produced the effect
thus ascribed to them ;" and " for the further dere-

lopment of the views entertained on these various

points, by the gentlemen whom they had examined,"

referred to the evidence !!

This was literally all the information given to the
expectant community as to the causes of the fearful

disasters that had overwhelmed so many princely
houses, that had led to a crisis of unparalleled inten-

sity, and a total cessation of credit. The Corn-
mittee did inquire into " the causes of the

commercial distress, and how far it had been
affected by the laws fore regulating the issue

of bank-notes payable on demand," but they
kept the result of that inquiry to themselves, and did

not venture to pronounce an opinion which the con•

clusive and incontrovertible evidence produced before
them must immediately have disproved. And better
that they should have acted in this manner, and evaded

the important duty confided to their charge by the
Commons House of Parliament, than to have given a
prejudiced and erroneous decipion on the premixes.
One point, however, was decided. The report con-
cluded with these words :—" Your Committee, there-
fore, after a careful review of all the evidence, are of

opinion that it is not expedient to make any alteration
in the Bank Act of 1844." This might lead ignorant

person?, who did not take the trouble to read the

evidence for themselves, to suppose that this judg-

ment was arrived at in consequence of the evidence
that had been produced, not that it was totally op-
posed to the entire weight thereof, that it was merely
the expression of " a foregone conclusion," of a de-
termination formed before a single witness bad been

examined. It was carried by a majority of two. Sir
R. PEEL and Sir C. WOOD determined the question
in favour of their own measure, and we regret to say
that the vote of Mr. COIDEN was given on their side.

Had the Hon. Gentleman supported " free trade in

banking," the numbers would have been equal.
Should such a conclusion, so arrived at—in direct
opposition to all the facts and circumstances cf the

case, to the very act of Ministers themselves, which
proved that they at least believed that the safety of

the nation required the violation of the law—satisfy
the great commercial bodies whose representatives

were unanimous in condemning the Act, and asserting
that the safety of the nation required its alteration ? It

could not do so, even if the Lords had remained
quiescent, and if it had not been totally opposed by
one of the ablest and most satisfactory documents that
ever emanated from a Parliamentary Committee, a

document to which we shall on a future occasion espe-
cially direct the public attention.

The demise of Mr. GEORGE RICHARD ROBINSON,
the late Chairman of Lloyd's ha 3 occasioned a
vacancy in the representation of the borough of
Poole, and two candidates are already in the field—Mr.
HENRY DANBY SEYMOUR, a gentleman of large
landed property residing in the immediate neighbour.
hood of the borough, a man of high character and in-
dependent principles, a landholder, and a thorough
free-trader; and Mr. JOHN SAVAGE, an unknown
man, said to be a Chancery barrister, albeit those
used to attend constantly in the Courts of Chancery
for the last twenty years, are ignorant of the sound of
bis mellifluous voice—a gentleman who acknowledges
that it is not his good fortune to be known to
any of the electors, and who comes in the
field as the avowed supporter of obscurantist
principles, the opposer of the apse of civil

and religious liberty all over the world, an o'
an advocate for the re-enactment of the corn-laws
and the navigation-laws. Mr. SEYMOURS'S profession
of faith on the subject of free trade is clear and ex-
plicit. He says in his address—.

_
" I rejoice that it has been found practicable to carry
free-trade measures, in which I have always taken the
deepest interest. I look upon them as a noble, though
temporary sacrifice on the part of the wealthi,r classes,
for the benefit of the laborious classes, and I believe
that the opposition to them will die away when their
effect in increasing the comfOrts and improving the mo-
rality of the mass of the people becomes more fully ap-
preciated."

Betweeiii,a resident country'gentleman, well known
and respected,and who professes such sentiments as these,
and an unknown Protectionist Barrister, who dates
his address from St. Leonards-on-the- Sea, there can-
not be any difficulty of choice, and we doubt not but
that the inhabitants of Poole will give Sir G. Pin-
ups, their present Member, a worthy colleague in
the person cf Mr. Sgirmoua, and will not again re-
peat the folly of virtually disfranchising themselves
by returning a Protectionist, whose vote will on
every occasion neutralize that of his free-trade
colleague.

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The PRESIDENT of the Republic has arrived a
Metz ; the following are the latest telegraphic dis.
patches that have been received by the Govern.
went :

" Meta, Aug. 25, Three P.M.
" Nancy, Sunday morning, Aug. 25.
" The President of the Republic arrived at Nancy
yesterday evening at seven o'clock, having left Stras-
burg the day before y. esterday at one o'clock. He was
received throughout hisjourney with joy and sympathy.
At Sarrebourg, where he slept, an immense crowd had
assembled from all parts of the arrondissement of Lune-
vine. Notwithstanding a pelting rain, which lasted
since the morning, numerous rural National Guards had
come to join the :National Guards of the town. In en-
tering Nancy, the President found a triumphal arch,
which had been raised by the working classes of the
suburb, with the following inscription:—' Dieu protégé
la France; a Louis Napoleon les ouvriers da faubourg.'
An immense concourse of the population accompanied
him from the triumphal arch to the prefecture. In the
evening he assisted at a ball offered by the town."
" THE PREFECT 01' THE DEPARTMENT OF THE MOSELLE
TO THE MINISTER OF THE INTERIOR.

" Metz, Aug. 25, Half-past Five P.M.
" The President of the Republic arrived at Metz at
two o'clock. The Mayor and municipal council were in
readiness at the railway station to receive him."—[Not
terminated.]
The feud between the Legitimatists and Bona-
partists is now avowed and irreconcilable. The fol-
lowing article may be looked upon as a declaration of
war on the part of the Bonapartists. It is from their
principal organ, Le Pouvoir :
" Wait has been for years back the part played by the
Legitimists? Always the same. To conspire against
all Governments, to mine their base, to weaken the laws,
to prepare revolution when it does not exist, and to pro-
long it when itdoes. They have dune all that to arrive at
ithaenrdagmriaceueltfuareet,erwehd,icwh
hhieshs
hnaeveed
noefepdeaecfe,enenor..
their ends, that is, at their domination; nothing arrests
commercethem, neither
e
fidence. They only see before the m their ab-
stract principle, and they sacrifice to it all human
realities. One would say that, like Mahomet, they
have a crescent on their blason, and that they are deter-
mined to convulse the world until the two extremities
of the crescent meet, thus realising the devise of the
camel-driver of Mecca: Donec impreatur. During the
Consulate and the Empire they conspired ; during the
reign of Louis Philippe they conspired; since the Go-
vernment of Louis Napoleon has been consolidated they
conspire. They are unwilling to give the country a mo-
ment'a truce. They want revolution alter revolution to
the end of ages, unless men make up their minds to en-
dure them. Do you know what they reply to you when
yon ask them grace in favour of those unhappy popula-
tions who have need of order and peace, as persons want
air and light? They say, non possumus; a little r, st ; non
possumus; a little calm, non possumus; .ft little employ-
ment to give bread to our childr,n, non possumus; a
little respite to repair the disasters of February ; non
possums. France Las become for them the wandering
Jew of the story; they do not permit her either to take
breath or to sit down. And these are the representatives
of the principle of stability and order! One would
scarcely imagine it, if it be true that the tree is known
by it, fruits. Non possumus, we cannot listen to you ;
non possumus, we cannot be tolerant and conciliating ;
non possums, we cannot accord to the country the calm
which it is in need of, the truce which it demands; so, go
on, cursed Jew, go on. France the vassal, we are your
judges, your masters, your kings 1 But France, who
knows also something of Latin, replies in the same lan-
guage: Nolimus."
On the other band the Legitimatists, who last year
were urging the Councils-General of the Departments
to insist on an immediate revision of the constitution,
are this year endeavouring to neutralize the action of
the Councils-General, because they fear such action

may turn to the profit of the PRESIDENT.
subject the Union says :
" The Councils-General meet in two days. Their
session this year is of a more important character than
in preceding years. No ono is ignorant that the parti-
sans of the prorogation of the powers of the President of
the Republic desire strongly that the Council General
should pronounce in favour of the revision.of the consti-
tution. A year back, only two or three councils made
that demand. Everything announces that the matter
will be examined in a few days in all the depart•
ments. We do not want to regret by anticipation
the decision of the Councils-General, but we may ob-
serve that all their efforts will not succeed in resolving
the question. It is the National Assembly that will
have to decide if the Constitution is to be revised. The
we inrigine, to endeavour to
the Assembly, and influence
aCnotui
cnicpi
its deliberations, in tracing out to it a line to follow.
al st-General
theen
There is an observation which we think it necessary to
erreaslooluugahotnsnoott,
make. The journals which are in favour of a revision of
the Constitution are also in favour of a prolongation of
the powers of the President. One is the me aus, and the
other the end. Is not that a reason to guard a great re-
serve in the departmental assemblies?"
We read in the Evenement It is known that
King Lows PsuarrE had claimed from the Republic,
as his personal property, the Standish Museum, and
that the question having been referred to the Council
of State, was decided in his favour. The exile of
Claremont has just responded to this act of justice by
an act of generosity. He has made a present of the
museum to the State. We record this fact so
honourable to the former King of the FRENCH. ‘Ve
congratulate and thank him for this noble idea."
PARIS BOURSE, AUGUST 26.—Latest Prices.—Five
per Cents., 97f. 30c. ; Three per Cents., 58f. .55e.5
Bank Actions, 2,327 f. 50c.

On this

BUSINESS DUNE IN FOREIGN RAILWAYS AT THE

LONDON, STOCK-EXCHANGE, Aua. 26.
Namur and Liege, 57,i —Orleans aLd Bordeaux, 2%—
Sambre and Meuse,

SPAIN.

Madrid journals of the 21st have arrived.
The Comercio states that the Government had
contracted for four steamers of 500 horse power, for
establishing regular mail communication between the
Peninsula and the West Indies. The corps of 4,000
men destined for Cuba would, it was announced, be
ready to leave on the Ist of next month.
MADRID BOMA, AUG. 21.—Three per Cents.,
33 3-16; Five per Cents., 14 money. Exchange on
London, 50 40.

the exercise of its attributes to the application of spi-
ritual penalties in conformity with the terms of the eccle-
siastical laws.
" Art. 5. If the causes contemplated in the preceding
article (the 4th) appear, in reason of person or matter,
to be of an ecclesiastical character, they shall be referred
in the first instance to the cognizance of the judge of
appeal, so that care be taken to sustain the stability of
the existing laws.

"The judge of appeal shall have the cognizance of the
cause, and shall determine as to its nature.
" Art 6. In oases of refuge in churches, or other places
which were considered places of immunity, such persons
who are under orders fur capture under the proper pro-
cris may be immediately followed and arrested, as in
other klaces, in conformity with the rules established in
the code of criminal procedure. In arrests, however,
regard must be bad to the character of the place, so
that the necessary caution is taken that no disturbance
is excited during the exercise of Divine worship, but in
the shortest possible time application should be made to
the rector of the church in which it is proposed to exe-
cute the arrest.

" Art. 7. The Government of the King is desired to
present to the Parliament a form of law for the regula-
tion of marriage Contracts in their relations with the
civil laws, for the pointing out the capacity of the con-
tracting parties, and the form and effect of such
contr3ct.

" The Keeper of the Seals, the Secretary of State, the
Minister for I! ternational Affairs, the Minister of Grace
and Justice, are charged with the execution of the pre-
sent law, which shall be registered and published, and
inserted among the Acts of the Government.
" Turin, the 9th of April, 1850.
" Galvagno Nigra." " VICTOR EXAM:M.
The Opinione tf Turin, of the 22d, says that it
has learned that M. BIANCHI GIOYINI has been ex-
pelled from the Sardinian states at the desire of the
President of the Council of Ministers ; but that the
direction of that journal (of which IL Gwynn is
editor) would not be changed on that account. On
the contrary, the managers of that paper had taken
measures to secure the aid of that distinguished publi-
cist in maintaining the cause of liberty and of Italian
nationality.
General LasiAßmoßa, the Piedmontese Minister
of War, who had been sent to Lyons by his Sove-
reign to compliment the PRESIDENT of the Re-
public, arrived at Turin on the 20th. He has ex-
pressed great satisfaction at the reception he has met
with. General LAMARBIORA, on his way heme, vi-
sited the garrisons of Chamberyy-and Annecy, and also
the fort of Leissillon.

The Risorgimento of Turin of the 21st announces
that the disorder of the King of SARDINIA is by no
means so serious as public -rumour - had respresented
it ; that the fever has almost disappeared ; and that
the illustrious patient will . soon be able to leave his
room.

The Constituzionale of Florence of the 18th quotes
letters from Naples, stating that the case of the po-
litical sect of the " Unita Italiana" has been again
adjourned. _ _ .

Letters from Brescia speak of a terrible inundation,
caused in the environs on the 14th by the overflow-
ing of the river Mella. Many lives have been lost
and houses destroyed by it.-

THE HUNGARIAN CAUSE.
TO THE EDITOR OF THE SUN.

SlB,—Your generous exertions in behalf of the Hun-
garian refugees Impose on mithe duty of acknowledging
them publicly in the name of all my countrymen. I re-
quest you, therefore, to give a place to the following
letter (addressed to the Chairman of the Committee for
the Relief of the Hungarian Political Refugees) in your
ably conducted paper, which has always been a strong
supporter of all those struggling for constitutional free.
dom.—With my sincerest regard, 3, ours, &c.,
FRANCIS PULSZKY.

LORD D. C. STUART M.P. AS THE CHAIRMAN OF THE
COMMITTEE FOR THE RELIEF OF THE HUNGARIAN
POLITICAL REFUGEES.

My Lord,—Hundreds of Hungarians fleeing for their
lives and their liberty arrived here in England since
the last year. The mo,t cruel future was allotted
to them if the generosity of Englishmen had
not offered support, granting to toe exiles the
means either of going to the United States or of
finding a humble livelihood is England, and of await-
ing the time when they can return without danger to
their home. The noble and indefatigable exertions of
the committee for the relief of the Hungarian political
refugees were crowned with such success, that during a
whole year no Hungarian exile in need left England
without having been relieved. Allow me now, my
Lord, when this committee is winding up its affairs, to
express the grateful feelings of all those who partici-
pated in its benefits. The names of all our
friends who were ready to assist us are deeply
engraved in our hearte, but it is principally to those of
them who took part in the arduous task of the commit-
tee, and to you, my Lord, as chairman of the committee.,
to whom our warmest thanks belong.
With the same feeling of gratitude, we acknowledge
the friendly supprt of many of the daily and weekly
papers, especially of the editor of The Sun, who took
the lead in this benevolent movement. Allow me to sub-
scribe myself, my Lord, your most obedient servant,
FRANCIS PULSZKT.
34, St. Petersburgh-place, Bayswater,
August 26, 1850.

DEPARTURE OF .HER MAJESTY
FOR SCOTLAND.—(THIS DAY.)
Her Majesty, Prince Albert, the Prince of Wales, the
Princess Royal, and the junior members of the Royal
Family, attended by a numerous suite, arrived at eleven
o'clock at the Vauxhall station of the South-Western
Railway, by special train, from Gosport. On alighting,
the royal party were received by the chairman of the
company, and immediately proceeded, in four of the
royal carriages, each drawn by four horses, to the
Euston terminus of the London and North-Western
Railway. The route chosen by her Majesty was over
Vauxhall- bridge, through Eaton-square, Eaton-place,
Grosvenor-place, Hyde-park, Edgware-road, and up the
New-road to the station. A detachment of the 16th
Light Dragoons (Lancers) formed a guard of honour.
On arriving at the Easton terminus, where a large
number of well-dressed persons had assembled to witc.ess
the departure of her Majasty, the royal party were re-
ceived by George Carr Glyn, Esq., M.P , the chairman
of the company, and several of the directors. After a
few moments' delay, the illustrious individuals took
their places in the royal saloon carriages,which instantly
started. The engine to which the royal train was at-
tached was driven by the superintendent of locomotives
to the company.
(FROM ANOTHER CORRESPONDENT).
EUSTON STATION, TWELVE O'CLOCK.
DEPARTURE OF HER MAJESTY FOR THE NORTH.—
Her Majesty, Prince Albert, and four children, lett the
Euston-square station of the London and North-Western
Railway at twelve o'clock this day, for Castle Howard,
accompanied by Sir G. Grey, Sir James Clark, Mar-
chioness of Douro, &c. &c.
PORTSMOUTH, TUESDAY MORNING.
Her Majesty, the Prince, and the Court left Osborne
this morning soon after seven o'clock, and embarked in
the dispatch yacht Elfin, Mr. Alfred Balliston, Acting
Master, commanding.
In consequence of the death of the ex-King of the
French no salutes were fired, nor any of the usual for-
malities observed. Her Majesty landed at the Clarence..
yard, Gosport, at a quarter before eight, and left soon
after by a special train.

M. JAMES WALLACK.—We are glad to be en-
abled to announce the perfect recovery to health of this dig-
tinguislied actor and popular favourite. He will continue at
the Haymarket, in his office of stage•manager, and will al-
ternate the chief tragic characters with Mr. blacready during
the com ng season.

The Earl of Cardigan, with his beautiful schooner-
yacht, the Enchantress, has bean for the last fortnight at
Lowestoft, and is, we understand, about to become the pro-
prietor of a marine residence in that growingly-popular
watering-place, which has this year been visited by a num-
ber of fashiunables altogether unprecedented on the eastern
coast.

The Very Rev. Dr. Whitty has been appointed pro-
Vicar Apostolic of the London district during Dr. Wiseman's
sojourn in Rome.

An officer of a crack cavalry regiment, in•writing
to the Duke of Wellington, addressed his Grace " Feeld
Martial the Duke of Wellington." The Duke was digusted,
and immediately issued the Educational Order.— United Ser-
vice Gazette.

Large quantities of rain fell throughout South
Lancashire during the past week; and the temperature de-
clined considerably. Occasionally high winds also prevailed ;
and, on the whole, the weather was of the most unfavourable
character for the uncut grain and harvest operations. Yes-
terday, also, rain fell abundantly, and the night cl,sed in
with little promise of a fine season. —Licerpool Albion.
AN ANCIENT FORTRESS DlSMANTLED.—Berwick-
on•Tweed is about to be dismantled, and its walls converted
into building sites, by order of the Crown.
THE NEW HACKNEY CARRIAGE REGULATIONS.—
The following regulations are to be observed at all standings
for hackney carriages within the police district:—First.
D ivers of hackney carriages or other persons are not to
stand together upon the footway, or cause any obstruction
or annoyance to persons pa-sing, and no person except the
licensed waterman and the drivers of hackney carriages ply-
ing for hire there are to remain at any standings. Secondly.
Drivers of hackney carriages or watermen are not to use
offensive or insulting language, or by any improper behaviour
or gesture, to cause offence or annoyance to any person. No
person is to smoke or drink any spirituous or malt liquor at
any standing. Thirdly. No hackney carriage or horse is to
be washed or cleaned upcn a standing, and the drivers and
licensed watermen are to prevent any dirt or litter by feeding
or watering the horses at the standing. Fourthly. Every
driver of a hackney carriage, when required to do so by the
driver of any private coach or other carriage, is to move such
hackney carriage, and leave sufficient space clear for the
coach or other carriages to pass. No hackney carriage shall
be suffered to stand Across any street or thoroughfare, or op-
posite the end of any street or carriage-way, or upon any
place where foot passengers usually cross the carriage-way.
SOUTHAMPTON, TUESDAY MORNING.--The Havre
cotton market was yesterday very quiet, with no change in
prices. Sales at two o'clock, 167 bales. The following ves-
sels have arrived at Havre :-24th, the Atlas, from New
York ; 26th, La Manche, from New x ork.
The c!esring clerk of an eminent banking-house
absented himself from business in Lombard-street on Satur-
day morning, when on examination his previcua day's clear-
ing woo' fowl t 9 bo 6,0004 de6cieut•

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
The sales of Cotton at Liverpool yesterday were
estimated at 5,000 bales, of which 1,000 American were
taken on speculation. The market closed very heavily,
at d. per lb. lower for all descriptions. The sales com-
prised about 4,000 American ; 350 Bahia, at &V. to
; 50 Egyptian, at 9d. ; and 400 Surat, at Sid. to
I. per lb.—Tbe Railway Share Market was very firm.
There are direct accounts of April 20 from Port Phillip.
The colony was progressing very favourably, and all it
wanted, to become greatly prosperous, was entire inde-
pendence of -Sydney. There was still a want of la-
bourers.
The letters and papers by the American steamer have
peen delivered this morning. The canal receipts of the
state of New York were largely in excess of any pre-
vious year, except 1847, and as the immense grain crops
of the west came out, the tolls on public works in all
parts cf the country would show a very satisfactory in-
crease on last year's.
Upon the subject of the Cotton crop, the accounts
are still encouraging. Mr. T. J. Stewart re-
marks, that " he all absorbing point in esti-
mating future prices for this staple is, of
course, the possible contingencies of the next
three months for the growing crop, as they may bo ulti-
mately influenced by the weather which has prevailed in
that section for the list fortnight. The warm weather
which st tin about the Ist of July is not unusual or ex-
cessive for the season and latitude, and would not pro-
bably have been dwelt upon, or exercise any it.fluence
whatever on prices in this {market, but for the efforts
made by certain limited holders to realise on small par-
cels, to Losing about a lower level of prices for the
opening of the season in the fall. As one-third
of the whole stock in the country is in this port, it was
of course the vulnerable point, and the effect has been
to reduce the scale of prices nearly half a cent in that
period. The crop has been unquestionably benefited by
this weather, and it has been carried forward to within
one or two weeks of its position at this date last year.
The number of plants growing are greater than last
year, but not as much as would place the same amount of
bolls, as the shrub does not yet contain over two ahirds
the joints, and it is only at each joint the boll forms."
With respect to the claims made by the United States
of America on the Government of Portugal, a corre-
spondent suggests, in the event of a third power being
called upon finally to decide the differences in respect of
said claims, and Portugal should be considered liable,
that the said Government would be perfectly justified in
making payment in any of the bonds of the repudiating
states of the Union, each forming part of the federal Go-
vernment. We are glad, however, to find that there
is a strong feeling in the United States against coercive
measures. One writer observes:—" This is the present
situation of this Portugal affair. Although it does not
follow that war will be the result, yet we cannot but
see that difficulty may grow out of it. It is rather
humiliating to our national feelings, to see a great
country like this assume such a belligerent attitude to-
wards one of the weakest powers in Europe, about such
a trifliug matter. It Woke as if we were desirous of
acting the braggart and frightening a weaker nation
out of a aura of money, tearing that if we submitted to
an arbitration the injustice of our demand would be
made manifest. This is the aspect which the mat-
ter beats, and it is useless to conceal it. If oar
claim be a good one, other nations will say, why do
you not submit it to the arbitrament of disinterested
parties? A good claim never loses its force by being
examined. But we will not submit to any arbitration,
says the Galpbin Cabinet; you must pay up. It is really
too bad that this country should be brought into such a
condition. If Portugal were a first Power in Europe, it
would be qutte a different matter, although, even then,
the course of the Galphins would not be justified, in
taking the hostile attitude which they did, as long as
peaceable means were within our control, to adjust the
matter. Payment of the whole claim would not be a
recompense for the stigma is hich the course of the Gal-
phins has cast upon the United States."
The Canadian accounts read well, and upon the pro-
rogation of the Legislature, Lord Elgin made some im-
portant observations bearing upon trade, His Lord-
ship stated it to be his opinion, that an exchange of
products might take place between the several British
North American provinces to a greater extent than has
hitherto been the case, and that he shonld endeavour to
promote it. His Excellency congratulates the Legisla-
tive Council on the improvement that has taken place in
the revenue, and the promise of an abundant bravest, and
also on the opening out of the line of navigation from
the far west through Canada to the ocean.
Advices from Valparaiso of July 7, furnish the mes-
sage of the President of the Chilian Republic on the
assembling of Congress from which the following are
translated extracts:--" The renewal of our treaty with
the United States of America, which has now expired,
is a subject which will occupy the immediate attention
of this Government. I propose introducing in it modi-
fications, demanded, in my opinion, by the interests of
both nations. As yet the discussion in Washington of
the most important of the claims for indemni-
fication made by the United States against
the Republic of Chili, has not terminated. I
doubt not we will soon obtain the definitive answer of
that Government, and that it will be such as we have
reason to expect from its intelligence and justice. The
other claims will successively occupy the attention of
both Governments. Means have been repeatedly taken
for the protection or succour of Chilian citizens in Cali-
fornia, and for the security and regularity of corre-
spondence with that country. the residence in San-
tiago of an astronomical expedition from the United
States, has, through the literal offer of its distinguished
chief, given an opportunity to the Government of com-
mencing the cultivation of a scientific branch hitherto
unknown amongst us, and which, aside from its useful
applications to objects of public utility, will place Cnili,
from her southern position, and the serenity e f her sky,
in a situation to contribute somewhat to the general ad-
vancement of science."
The Californian news is very cheerful in its tone, and
there were evidences of a desire to establish everything
on a sounde!. basis. Land speculation was deprecated,
and a public meeting had been held condemning it
strongly. The new houses building to replace those
destroyed by the eoeflagration were of brick, and fire-
proof.

- The dates from Mexico are to July 9th. No less than
eighteen candidates for the Presidentship were in the
field. The cholera had sensibly abated.
The Hamburgh mail, with dates of Friday last, brings
the quotation for the exchange on London at 13 7.
At Amsterdam on the 23d inst. not much was doing in
Public Securities, Dutch Two-and-a-Half per Cebts.
were 57t, and Spanish Three per Cents. 33/ to 3-16.
There is a flatter market for Public securities, and
there have been some sales made for transfer at 96f,
being *to per cent. lower than yesterday. The ex-
treme prices have been 96i to Bank Stock has been
firm at 214 to 215. India Stock has been quoted 264.
Exchequer-bills have been 655. to 685., and India Bonds
86s. to 88s. premium.
Foreign Securities are rather livelier. Spanish Five
per Cents. have been buoyant at 18t to Grenada
have been at 17:I, and Buenos Ayres at 594 to 60.
Russian Four-and-allalf per Cents. have realised 96i • Belgian Four-and• a-Half per Cents, 91i, and Dutcu
Two• and-a- Half per Cents. 57f to
At the Blackwell meeting of this day the dividend
was postponed, the balance available being too small for
dist ibution. The traffic of the past half-year had much
improved, which, together with the prospect of a friendly
arrangement with the Eastern Counties in respect to the
City terminus, caused the meeting to pass off satisfac-
torily.

The Railway Share Market has been buoyant for mos
of the lines dealt in, including Great Western, South.
Western, North-Western and York and North Midland
QUARTER TO THREE.
Consols 961
Ditto Account ... 961
BRITISH FUNDS THIS DAY AT •ONE O'CLOCK.
(From the Official List...)
Bank Stock 214 215
3 per Cent. Reduced Annuities
per Cent. Consols Anna
New 3!..4 per Cent. Anna. 99 99%
Long Annuities. Exp. Jan. sth, 1860 8 5-16 83i
D 0.30 Years, Expire Oct. 10,1859 —
Do. 30 Years, Expire Jan. 5, 1860 8
India Stock 264
Do. Bonds, 10001 B5 88 p
Ditto under 1.0001
South Sea Stock
Ditto Old Annuities 96%
Consols for Account
Exchequer Bills, I lAtd. 2d.
March. June.
65 68 p

1,060/.
5001.
Small 6B p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent.
Ditto New 80nd5,1829 and 1839 911,0
Buenos Ayres Bonds, 6 per Cent...... 60 5914
Grenada, 11. E per Cent.
Russian Bonds. 1822, 5 per Cent —
Ditto 41/2 per Cent
Spanish Bonds, 5 per Cent IBA %
Ditto Account .....
Dividend& on the above payable in London.
Belgian 4% per Cent.
Dutch 21/2 per Cent., 12 Guild
Ditto 4 ner Cent. Certificates

RIISINESS DONE IN RAILWAY SHARES AT ONE O'CLOCK
RAILWAY& PAID. I's). Sulam kberdeen -
Ditto, Preference Bi ...... du".. to —.
Imber., Notting., Boston,&c B% - • --
Ayrshire and Gallaway .•""'to to
...•
Beifast and County Down
--
derks and Hants Extension to
t.Gt. West. Perpet.s per ct.) 6 ...... -- •..
..3irmingnam & OxfordJunct.,
calls duly pd, or with guar. 20
Do., without a guarantee... 20 . - ... .. to —. Birmingham,Wol., & Dudley,
calls duly pd. or with guar. 15 .....
Do., without a guarantee... 15 to
Binning., Wel., &Stour Val. 131.14x....._ .. "' to
to --
Birkenhead. Lancashire, and

Cheshire Juncti0n..,..,,.,.. 26
Bristol and Exeter ............ 100
duckinghamshire ............ 171,4
:aledonian .
—.
Ditto. tto. New 10/ , Preference 10
....... 5 -
Ditto. Clydesdale Junction 50
...... "'••• to ....
Chester and Holyhead.... ..... 50
..... 8 -
Ditto, Preference ........... 15
Olaretietl ... 7Bi -......
..... . to --
Direct London & Portsmouth 5%
Dublin and Bel tact Junction.. 45
Dundalk and Enniskillen ... 30 ......
East Anglia, 251. L. & E.,
and L. & D. ... 25
to
to
DO.Ol. las" 6 .....
Ditto, JBl.. E. &H lB ... ..
p. Ct. Pref. 314 .rto --
Do, 71. 175., 7 par Ct. Pref. 2
Eastern Counties
1;u. Eaten., 5 per ct. No. 1,6/. 183.4 d... p to
Do., d 0.,. N0.2,64 135.4 d.. p to ...
Do.Nelv Pref.; 6 per coat.. IQ -