The Sun.
London, England, 1844-03-13 00:00:00

atitilM

LONDON, WEDNESDAY, MARCH 13, 1844

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No business of importance was done in the Lords.
In the Commons the Epsom and South-Western
Railway Bill, and the Croydon and Epsom Railway Bill,
were read a second time, and ordered to be committed.
In answer to several questions from Mr. GILL, Mem-
ber for Plymouth, relative to the arrest of two officers
of the 74th Regiment, now in Devonport, the arrest
having continued for eight months, Sir 11. HARDINGE
stated that one of them had been placed under arrest,
being a junior officer, for carrying a challenge to a
superior officer, which the latter had accepted, both
having thus violated their duty. As a new measure
was in contemplation with regard to such challenges,
the Commander in Chief had allowed the arrest to con-
tinue for the time mentioned, but meant to release them
after a suitable admonition.

Mr. COBDEN moved for a Select Committee to inquire
into the effects of protective duties on imports upon the
interest of the tenant-farmers and farm labourers.
In introducing the subject he said such a Committee
as he called for was generally granted, and he had the
more confidence that it would be granted in this in-
stance because he intended,-in case his motion should be
agreed to, only to call persons connected with agricul-
ture. His object was to prove that what was called
protection was delusive and injurious to the farmers.
He illustrated this simple fact by various arguments
and proofs, and left no doubt on the minds of impartial
hearers that what was called protection to tenant-
farmers and labourers, meant only monopoly to the
landowers.

Mr. GLADSTONE opposed the motion in a long speech,
Mr. VILLIERS, Mr. BRIGHT, and several other Members
followed, when the House divided, and the motion was
negatived by a majority of 91.
The other Orders of the Day having been disposed of,
the House adjourned at Half-past One o'Clock.

A desultory conversation took place in the House of
Lords, on Monday, on the subject of an anti-corn-law peti-
tion from the county of Somerset, in the course of which
the Duke of NVELuisoTow, anxious—as in the memorable
case of Mr.Husittssote s forced retirement from office—that
there " should be no mistake," took the opportunity of
repeating his opinions on the subject of the present corn-
laws. As his language on this occasion was singularly
emphatic and explicit, we quote his own words,
as wey
find them in our Parliamentary report, for we foresee
that they will give rise to much stringent comment at
the next meeting of the League :—All I can say is,"
observed the Noble and Gallant Duke, " I have not
at all changed my opinion on the subject of the petition
which has this night been brought under consideration.
I voted for the existing corn-law, and I earnestly recom-
mend your Lordships to leave it as it is.—(Cheers.)
That is what I recommend to your Lordships, and to
maintain the system which it is the object of that corn-

law to carry into execution." Just in the same spirit in
which his Grace here expresses himself respecting the
bread-tax, he expressed himself in the memorable year
1830 respecting Reform. He entreated their Lordships
to allow of no alteration in the constitution of the House
of Commons ; the representation was as perfect as it
could possibly be ; and therefore he " earnestly re-
commended" that it should be left in this state
unrivalled perfection. And what was the con-
sequence of his Grace's " earnest" entreaty ? Why
ust this—that not four months afterwards a clamour
for Parliamentary Reform rose from one end of the
kingdom to the other; and, notwithstanding the Duke's
"earnest" entreaties, the House of Lords were com-
pelled to consent to the Bill that deprived them for ever
of their unconstitutional influence Os er the Commons !
Is it not just possible that his Grace's " earnest " en-
treaties respecting the corn-laws may be attended with
a like result ? and that it may provoke an indignant
spirit throughout the country that may sweep the bread-
tax at once and for ever from the statute-book ? If we
may judge from the past, we should inter that nothing
was more likely than such an occurrence, and greatly
should we be delighted to find that the Duke had
become, however reluctantly and unconsciously,
a second time our sterling benefactor. Of one thing his
Grace may rest assured—namely, that it is no longer in
his power, nor in that of any Minister of the Crown, to
check the progress of the anti-corn-law agitation, no
matter how " earnest" may be his convictions on the
subject, nor how great his influence over the opinions
and votes of their Lordships. The movement must pro-
ceed—the question must continue daily and weekly to
gain an increased impetus, until it is brought to a
satisfactory termination. It is not the passions
merely of the people that are enlisted in
the cause, but their judgment—their cool, deliberate,
unprejudiced understanding. When, therefore, the Duke
of RICHMOND accuses the League--as he did last night
in the House of Lords—of appealing to the inflammable
feelings of the multitude, he makes an accusation for
which he has not the slightest warrant; fox this great
national confederacy has no need to resort to any such
appeals; its object is rather to calm the passions of
those to whom it addresses itself, for it is only during
such calm that men's understanding stands a chance
of being convinced. But the League, it seems, if

we may credit the Noble Duke, not only does its ut-
most to rouse all the worst and stormiest feelings of the
mob ; but, what is infinitely more inexcumble, it " is
vulgar to the last degree." It is here the shoe pinches.
His Grace of RICHMOND might possibly be induced to
overlook its intemperate appeals to the masses ; but he
cannot pardon its hopeless, unleavened vulgarity. It does
not daintily mince its words, as gentlemen should do ; it
does not wrap up the truth in an elegant courtly dis-
guise ; but speaks what it thinks in the
first, plain, straight-forward language that comes
uppermost. Moreover, it has no white-waistcoated,
kid-gloved Exclusives among its members. It is com-
posed of men whose bow is far from perfection, and
who are by no means diligent in sacrificing to the
Graces. For these reasons his Grace, like Thwackum,
in Tom Junes, thinks it his duty to "-saddle" the
League " with a judgment," and to proclaim to their
Lordships, in accents of aristocratic disgust and dismay.
his painful conviction that "it is vulgar to the last
degree." We have often been curious to know what
was the extreme point of vulgarity which it was possible
for human nature to attain; and now we find, on the
high authority of the Duke of IttcnmoND, that the
" last degree"—the see plus ultra of the vulgar—consists
in being a member of the League, and speaking home
truths once a w eek at Covent garden.

.TONE Y AND COMMERCIAL NE NEV
CITY 'TUESDAY EVENING.
The English Stock Market did not vary this afternoon,
Consols cl9sing flatly at 981 to The Three per Cents. of
1726, were done at 67i.
Most of the Foreign Bonds were at the close a shade lower.
Spanish Actives brought 25, and the Three per Cents. 35g.
Mexican for account were down to 36 and 354. Peruvian
were 29 to ; Chilian Deferred, 51 to 50h ; and Buenos Ayres,
38h to 33.
The additional transactions in Railway Shares have been
these :—Birmingham and Gloucester were 15h ; Brighton, 5i ;
Blackwail, 10h • Greenwich Preference, ; and North Mid-
land, 9 to 8 discount. Birmingham and Gloucester New
were 3i to 3 ; Eastern Counties Extension, ; Edinburgh
and Glasgow, 12 to ; Ditto, New, 3h ; Great Western, 36 ;
Ditto, Fifths, 7 ; Hull and Selby, 10 ; Lancaster and Carlisle,
24 ; Birmingham, Quarter, 25i ; Guildford Junction, 14 to h ;
South Western, 401 ; Manchester and Birmingham, 5 ;
Norwich and Brandon, 5 ; North Midland, Thirds, 81 ; outh
Eastern Scrip, 10 ; and Yarmouth and Norwich, 7i prem. ;
London and Westminster Bank Shares were 5i to prem.
The rates of Exchange on most of the continental cities
were steadily supported.
The following is the official return of the exports of bullion
for the week ending Thursday last :
Silver Bars to Rotterdam
„ Coin to ditto
„ „ to China 17,000 „
91 If to Mauritius
;From The Sun of Last Night ) _

A fair speciihitive and trade demand was experienced for
cotton at Liverpool yesterday at steady prices. Sales 5,500
bags, of which 2,060 were on speculation. A very large
amount of business was done in Railway Stock :—Birming-
ham, 831; Chester and Holyhead, 61; Eastern Counties, 11l ;
Edinburgh and Glasgow, 63 ; Grand Junction, 232 ; Great
Western, 113 ; Hull and Selby, 611 ; Birmingham, 242 ;
83 ; Midland Counties, 94 ;
Eastern, 35i ; Ditto New, 36.
P ar Brig,
ish tandon L44yt
n; s
,S2olu. tlh4
an. ; ess
ot eur r it
h,
It cannot be ascertained with any accuracy the amount of
the dissents that have, as yet, been entered in the books
now open at the Bank of England, opposing the plan
of the Chancellor of the Exchequer for the reduction
of the interest upon the Three-and-a-Half per
Cents. ; it being etiquette, We think, when en-
tries have really been made, for the Governor and Deputy
Governor of theßank to communicate the fact to the Treasury.
Our information of yesterday was strictly correct, as it was
no breach of the etiquette referred to to say that no entries
had been made. There have been some assents to the plan,
as respects the Stock of 1818, and of dissents to the reduction
of the interest ain the other Securities embraced in the
scheme of conversion. Probaby the real amount of
dissentients will be communicated to the House of
Commons this evening. However, the success of the plan
general
is held to be all but certain among practical capitalists in
the City. The subject has already lost much of its interest
any difficulty. opinion held that the conversion
without
in the Stock Exchange, and for the reasons which we have
justzll given, viz., 1' i Z.,
accomplishedthe
There have not been any late arrivals of importance this
morning.
The Funds have been rather flat to-day. Consols at 98/
to 981 for Money, and at 981 for Account. Exchequer Bills
have realised 70s. to 725. premium, and India Bonds 88s. to
90s. premium. The New Three-and-a-Half per Cents. have
been 102* to 1021. There is very little doing. The Com-
missioners have taken Consols at 988.
The Foreign Market has been also a little flat, and we
quote some of the stocks lower. Spanish Actives are 25* ;
the Passives, 6* ; and the Three per Cents., 35/1 to
351. The proposed capitalisation of the arrears of
interest on the Actives into a new Three per Cent.
Stock, makes the market no better, as it is not likely Spain
can yet pay so much with regularity. Portuguese Converted
are 46i to 461; Mexican have been down to 351 to 36 for
the Actives, and to 141 to 14* for the Deferred. Colombian
Stock has receded to 141 to 14*. Peruvian, owing to the
accounts from Lima of the disturbed state of the Republic,
have dropped to 29* and 29. The Dutch Two-and-a-Half
per Cents. are firm, at 57 to 57*.
There is not quite so much doing in Railway Shares, but
they are well supported on the whole.
MANCHESTER STOCK EXCHANGE, MARCH 11.—The market
continues very good, and prices generally better. The trans—
actions of the day are—Bristol and Exeter, 72 ; Eastern
Coanges Registered, 131; Ditto Perpetual, IL 9s. 10d.;
Edinburgh and Glasgow, 621; Manchester and Birmingham,
45* ; Sheffield and Manchester, 71 ; Barnsley Junction, 31;
CLOSING PRICES.
South Western Eighths, 4* and 5.
BRITISH FUNDS.
Bank Stock
, Indian Stock — pm.m
per Cent. Red
'Ditto Bonds
3 per Cent. Cons. . ...... ..
98% ,Ditto Oh Annuities
N per Cent. Red — ,Ditto New Annuities...
New 3% per Cent 102% Ex. Bills, 1,0001. INd... pm-
New 5 per Cent........
Long Annuities to expire Ditto Small ........
Jan. 1860 Bank Stock for Acct....
Oct. 1859 — IConsols for Acct. 96%
Jan. 1860 lndia Stock for Acct....
FOREIGN FUNDS.
Austrian, 5 per Cent .... ..... ..... Portuguese, 5 per Cent —
Belgian, 5 per Cent — Ditto New Ditto —
Brazilian Bonds ........»..... Prussian, 5 per Cent ..
Buenos Ayres, 6 per Cent... 38 Russian, 5 per Cent
Chllian, 6 per Cent ...... ...... Ditto, Metallic
Colombian, 6 per Cent
'
Ditto, 1854 ...... .... ....... ....... Ditto, li per Cent 3i %
Cuba Bonds, 6 per Cent 93 Ditto, Deferred
Danish, 3 per Cent .... ....... —• ;French, 5 ver Cent....... —f —c.
Greek, 18.5, 5 per Cent — :Exchange —f. —.c.
Mexican, 5 per Cent
Ditto, 6 per Cent., 1837. ;Dutch' 2% per Cent 57%
Peruvian, 1825,6 per Cent... 'Ditto, 5 per Cent lO2
SHARES.
58513
Birmingham and Gloucester (100 paid)
Ditto New (17% daid)
Edinburgh and Glasgow (50 paid) .......... ..... 62
Ditto Quarter Shares (15% paid)
Great Western (75 paid)
Ditto Fifths (12 paid) l9
Hull and Selby (50 id) 6O
Lancaster and Carlisle ( 5 paid) 7%
London and Brighton 50 paid)
t%
London and Blackwahl (161.135. 4dt)
London and Birmingham (Stock)
Ditto New Quarters ( 2 paid) 27%
London and Greenwich (124 15s. ad. paid)
LoUnditoton,aPnrdefsoereuntheeNovroPt
Privilege
/. 13i. 17s. 2d
paid) pd
London and Guildford Junction ( 5 paid)
Manchester and Birmingham ys
Norwich and Brandon( 2 paid) 7
North Midland (100 paid) 9)
Di to Thirds (AL 13s. 4d.) 3O
(6,101.) 18
6:i
89
South Eastern and Dover (50 paid)
Ditto Scrip (25 paid) 3.5%
Yarmouth and Norwich (16 paid)
COURSE OF EXCHANGE.—(YESTERDAY.)
Amsterdam CF. 12 6 Gibraltar
Ditto, at sight l2 4 Leghorn 3O 65
Rotterdam 2U. 12 6 Genoa 26
Antwerp 26 Miln —
L/amburgh M.B. 13 1501 Venice 47
Altona l4 oi, Naples ........ .......... 384
-- ,--' - .ht 25 7" al, - .. 1171

Paris, 3 days' sig' 5
Ditto, 3 months 25 95
Marseilles
Bourdeaux 25
Frankfort on Maine 122
Petersburgh, 3Us 36i
Berlin 7
Vienna, effec. fl. 3 M 958
Trieste, ditto
Madrid 363
Cadiz
Bilbao 36
Barcelona 36
Seville

Palermo, per oz
Lisbon. 534
Oporto s3i
Rio Janeiro 23
Bahia 23
Buenos Ayres —
NewYork,2ldys sight
Philadelphia —
PRICES OF BULLION, PER OZ.
Foreign Gold, bars....£3 17 9
Portugal Gold Coin 3 17 5
New Doubloons..... 0 0 0
New Dollars 0 4 9g
Silver in Bars 0 4 11A

The Newcastle and Darlington Railway is ex-
pected to be opened from the formerplace to Durham on the
lit of April, itu d throughout-on the lit of July.