The Sun.
London, England, 1844-01-05 00:00:00

THE SUN, LONDON, FRIDAY I]‘ ENING, JAN-CARY 5, 1844.

in so many points of our wide-spread dominion, still
invoke our cheering voice and protecting arm.

The accounts from Madrid to the 28th ult. state
that though the capital was tranquil, the Opposition
members and journalists were preparing to arouse the
provinces by issuing addresses and dispatching dele-
gates in all directions. The following curious apology
for suspending the Cortes appears in the Government
paper, the Madrid Gazette. The reasons urged are
equally applicable to the suspension and abolition of
the Constitution :

" The great debates which took place during several consecu-
tive days, relative to the conduct of M. Olozaga on the night
of the 28th of November, prevented the Cortes and the Go-
vernment from preparing the laws required by the state of the
country, and excited a deplorable irritation in the public mind.
A fatal party spirit stifled the voice of reason ; passions which
had been subdued by the insurrection of June, had re-appeared
more ardent than ever ; so that the calmness and prudence ne-
cessary to examine the grave matters submitted to the approba-
hation of Congress no longer prevailed in its deliberations.
Already even too great an importance had been ascribed to
words which had been pronounced in a moment of exasperation,
and which might have led to fresh disturbances. Under these
circumstances, the Government deemed it expedient to suspend
the labours of the Cortes, which was accordingly done yester-
day. Repose will induce reflection, and time will allay the ir-
ritation. Those discussions, besides, occasioned the loss of
much valuable time, which might have been usefully employed."
The Three per Cents. were done at 25 251 1-16, for cash,
and 25i at 60 days; the Coupons which are not to be capita-
lized, at 20i, at 59 days; and the Floating Debt at 42.

The Paris papers are almost entirely filled with
reports of the discussions, or rather, conversations, in
the different Committee-rooms, respecting certain
paragraphs of the KING'S speech. The only one of
interest took place in the seventh bureau, of which
M. Gemor and M. TIIIMIS are members, when the
ex-Minister put certain questions respecting the
words "friendship and intimate alliance with Eng-
land." We gave the substance of the questions,
with M. GUIZOT'S replies, yesterday, but as they re-
fer to subjects of considerable interest, as regards the
relations of England and France, we subjoin them in
a more ample form. M. TRIERS said he was anxious
to have some explanation on one or two points, for he
did not wish to allude to all the topics in the Royal
speech; but he would first of all declare that he was
in the number of the Oppositionists—decidedly of the
Opposition. —lt vvaS -matter of notoriety for a
length of time that he was not an adversary of the
English alliance ; but time destroyed many illusions,
and experience had suggested somewhat more reserve
on this point. Before pronouncing on the possibility
of sincere agreement and perfect alliance with Eng-
land, the matter ought to be looked at very narrowly.
They ought to examine if it were not possible for the
Ministry to obtain for the claims of the country some
satisfaction—if such demands of the nation as were
dictated by honour and right could not be fully con-
tented. If the two countries had really come to an
understanding respecting Spain, the fact ought to be
declared to the Chamber. As to Greece, which, in
his opinion, presented the Eastern question in a new
point of view, if an agreement had been come to, it
ought to be at once announced to the public. If, on
those points, satisfactory explanations were given, he
could readily comprehend—not that irrevocable en-
gagements were taken—but that an inclination, a ten-
dency, as it were, towards the English alliance, should
be expressed. If anything more than that had taken
place, he thought the matter had been urged on too
fast ! The expressions employed with respect to
the English alliance had much struck him. Could it
be possible that the question of the right of search,
which had so strongly engaged the attention of the
Chamber, had been abandoned ? He wished to hear
some explanations on those points, also on the ques-
tion of public instruction, which was of immense im-
portance. Was there, he would ask, any course de-
termined on, relative to the seminaries for the edu-
cation of persons intended for the priesthood ?
To these questions and remarks M. GUIZOT made
this reply :—" The words friendship and intimate
alliance had not been employed in the speech from
the throne as in the years preceding 1838, but simply
the expression cordial understanding—an expression
which implied, in fact, that the several questions that
might divide the two nations had been discussed one
by one, and that a cordial understanding had been
come to. As to the right of search, a negotiation had
been commenced by the consent of England, and the
wishes of the Chambe rs, and of the public in generals
had been taken seriously into consideration. He could
say no more on the subject. As to Spain, the difference of
opinion on that point, between England and France, had
been one of the causes of coolness between the two States,
and Spain had suffered thereby very seriously. At pre-
sent they had come to an understanding, and Spain would
reap from it a greater security. As to what con-
cerned Greece, England and France marched to•
nether on the same path, and their agreement on this
question was the more remarkable, inasmuch as
Russia held herself apart, and refused to act in con•
cert with the other two Powers."

In reference to the question, whether any course
had been determined on to settle the disputes between
the University and the Church, the Minister of Jus-
tice (M. MARTIN, du Nord) said the Government had
endeavoured to conciliate all parties, and he had every
reason to hope that all struggles between the State
and the clergy would soon cease.
Most of the papers simply announce the suspension,
or rather dissolution, of the Spanish Cortes (for it
amounts to this), and seem to regard it as a matter

of course, and quite in keeping with other acts of the
Catnarilla. The Constitutionnel, however, is an ex-
ception, and makes the following amusing remarks on
the Spanish character :
" It is very difficult, it appears, to govern in Spain with the
Chamber. M. Olozaga was overturned because he desired to
be armed against the Cortes with an ordonnance of dissolu-
tion. We have now his successors, who had been so much

shocked at his audacity, adopting, with a slight difference in
the form, the plan which turned out an abortion in his hands.
They do not dissolve the Cortes: they suspend them. Except
the electoral embarrassments from which they free themselves,
it is precisely the Fame thing. Spain is an admirable country.
There we may behold what we shall never see elsewhere.
There is a Constitution which has interred two •r three
others, probably with the pretension of being regarded as more
serious than its predecessors. This Constitution prescribes
the annual vote of the taxes by the representatives of the coun-
try, and in addition the examination, discussion, and passing of
laws which should govern Spain. Yet, for the last year and
more, this Constitution has been without action; for a year
and more the Cortes have assembled to discuss no one knows
what, and separate without voting either laws or budget. And
'notwithstanding everything goes on in Spain, badly enough it
is true, but Spain is so mush in the habit of going out of the
direct line, that nobody pays any attention to the circumstance.
Budgets are levied by srdonnance, laws are made by ordon-
nance, and future and problematical Cortes are waited for to
pass a Bill of Indemnity. In truth, Spain is a happy country.
If only the quarter of what is seen in Spain, was attempted in
France or England, a furious kick-up would be the result."
BOURSE—PARIS, WEDNESDAY, JAN. 3.
First Highest Lowest Last
Price. Price. Price. Price.
French Five per Cents. 124 ... 124 25... 124.. 124 25
4% per Cents. 109 25... 109 25... 109 25.... 109 25
Fouriper Cents. 105 ... 105 ... 105 ... 105
Threes. B2 45... 82 50... 82 40.. 82 50
Bank of France. 3215 ...3215 ...3210 ...3210
Belgian 8ank.......... 707 50... 707.50 .. 707 50... 707 50
Belgian Fives ........... 105 ... 105 ... 105 ... 105
1840.... 1074 ... 108 ... 107 i ... 108
1842.... 104 ... 108,i ... 108 i ... 1081
Dutch 2i per Cents... 56 ... 56i ... 56i ... 56i
:vanish Active ......... 30- ... 30- ... 30 ... .30,
Passive ...... 5 ... 5 ... 5 ... 5
Neapolitan
t!oinan
RAILWAY SHARES.
- - -

St. Germain 7BO ... 7t42 50:.. 780 ... 782 50
Versailles. L. 8... ..... 190 ... 195 ... 190 ... 190
Rouen
Rouen to Havre 645 ... 655 ... 645 ... 655
Orleans.
Strasburg to Bale 215 ... 215 ... 212 50... 212 50
... ._

MONEY AN).) cOMMIf4.-.7(;71/(V)L77.I:VEV.S
CITY, Pri .
, "arket at
There was not so Much anithation itl }feel CiAll2ll
Liverpool yesterday, but liriceS remained the saf111?- plisl CI3PPO
bales met with buyers. Speculators tools 1,000 bidet. 'Alit
Share Market was not quite so good, kit still a fair business
was done. Birininght.m and Gioueratte tt ere eta; Edinbergh
and Glasgow, 591 ; Grand Junction, 11.36 ; Great Western,
99; Manchester and Birmingham, 39&; Manchester and
Leeds,loli; Paris and Rouen, 324 ; South Eastern, 37%;
Do. New, 37i; Paris and Lyons, 31. 6s.
The letters by the Overland Mail were delitered this Morn,
ing, but they do not contain much information beyond that
communicated yesterday. It may be stated, with some confi-
dence, that the aspect of commercial affairs has improved. It
appears that the supplies of Teas would be even greater than
was calculated upon.
There are, in the official documents submitted to the Con-
gress of America' by the President, and compiled by
the Government officers, many items of intelligence of
interest on this side of the Atlantic. It ought to be added
that our postal regulations have excited a strong desire on the
part of the Americans to have a cheap rate established, and
that the propriety of rendering the post-office operations a
burden upon the national revenues was spenly canvassed. In
reference to the new law of Great Britain, the Postmaster-
General of the Republic: thus remarks :
" There has been an increase of letters, but not. to one-half
the extent anticipated, and an increased cha-ge for the ma-
nagement greater than was estimated.
Instead of an increase of revenue, as was predicted by the
Committee, there was a loss of $5,2::0,268.
" The system of penny postage in England, so far as revenue
is concerned, has resulted in alos of near two-thirds the re-
venue under the old system, and in an increase of cost of ma-
nagement equal to 31) per cent.
" These facts will serve to show that the tax, in the shape of
postage, upon the English correspondence has been lessened ;
that the postage on newspapers is paid, in the shape of a stamp
duty, higher than the postage on newspapers in the United
States; that the correspondence through the mail has been
increased; and that the revenue derived to the Crown
has been greatly lessened. And they further prove that the
income of the British Post-office is still greater than its cost
of management. Two other facts should not be overlooked
in the comparison of the revenue of the British Post-office
under the old and new rates of postage. The first is, that all
foreign and colonial letters which are delivered in England, in
their transit to and from other countries, are subjected to a
heavy postage. The second, that by law the transportation of
letters by private conveyance, except where the carrier shall
himself deliver the letter to the person addressed, is prohibited
by severe penalties.
" If the British Crown did not need the revenue, or if it
did, and the subject was willing to be taxed in the form of
stamp duty or excise equal to the reduction of the rate of
postage, as more equal and less burdensome, no one will question
this right, and the justice of yielding to the demand to have
postage reduced.
" If the Post-office department of the United States yielded
a revenue over its expenses, or if the charge of its mansge-
! merit was paid from the general treasury, no one would doubt
the propriety and justice of a reduction.
"It is a question for Congress anti the people to settle,
whether they will so far change the laws of the United States
concerning the Post-office department, as to direct its expenses
to be paid out of the Treasury.
" The number of chargeable letters delivered, which an-
nually pass through the Post-office of the United States, has
heretofore been estimated at '24,507,t.94. The number of
similar letters annually posted in England, under the old rates
of postage, was estimated by the Committee of Parliament at
77,500,000.
" The number under the penny-rate of like letters may be
estimated at 204,234,676."
A limited amount of business has been transacted to-day in
Stocks, if we except the purchase of about 18,000/. Reduced
Three per Cents, at 98, by the Government brokers. It is
perhaps worth notice that the investment made yesterday by
the Government brokers was not on account of any public fund,
and hence the inference falls to the ground that a plan
for the reduction of the Three-and-a-Half per Cents. is
not contemplated. The purchase was on private account.
Our belief is strong, from facts that have transpired of late,
that the conversion will be effected. Consols for Account
have remained very tranquil to-day at from 97 to 971 ex dir.
The premium upon Exchequer-bills has advanced to 695., and
that upon India Bonds to 81s. Bank Stock is again higher,
namely, at 1861.
A good deal of business has been transacted in the Foreign
Funds to-day, and at prices generally in advance, though but
slight, on the values realised yesterday. The Dutch Two.and-
a- Half per Cents. have rallied to 543; the Five per Cents. to
100* ; and Colombian ex Venezuelan to Spanish Con-
sols, after touching 22A, have receded to 211 ; but the Three
per Cents. have been pretty firm at 30*
The Railway Share Market is scarcely so high as it has of
late been. The principal variations have been a fall in the
Manchester and Leeds, from 32 to 31 prem., and in the Edin-
burgh and Glasgow, from t 34 to 8 premium. The Brightons,
the Blackwalls, and the South Western are a shade fewer.
New London and Birmingham Shares. have advanced to 261
prem. Real del Monte Unregistered Shares are heavy at
stl4 is There are no fresh quotations for Joint Stock Bank
Shares to-day,
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Bank Stock
3 per Cent. Reduced Annuities
3i per Cent. Reduced Annuities
Long Annuities, Expire sth Jan. 1860
Ditto 30 Years, Expire 10th Oct. 1859
India Bonds, 1,000
Ditto under 1,000

Consols for Opening
Exchequer Bills, 14d. Ittl.
1000!.
' 500/.
Ditto Small
FOREIGN FUNDS THIS DAY AT ONE O'CLOCK
Chilian Bonds, 6 per Cent .. 994
Mexican Bonds 1837, 5 per Cent... .... .. 324/1
Ditto Deferred Stock 94
Peruvian Bonds, 6 per Cent.
Ditto for the Account
Portuguese Bonds, 5 per Cent
Ditto Converted
Ditto for the Account
Spanish Bonds, Five per Cent.
Ditto for the Account 22 21i
Ditto Three per Cent.
Ditto for the Account 3041
Dutch 24 per Cent 54;4
Dutch 5 per Cent. ... lOO4
PRICES OF SHARES THIS DAY AT ONE.
R A ILWAYS. Paid. Per Share.
Eirmingham and Gloucester 100 ...... 644...... to 65
Bristol and Exeter 7O ..... 664 to 65i
Eastern Counties
Edinburgh and Glasgow
Ditto New ... ... 124 144 ...... to
Ditto Registered
Great Western
London and Brighten •••••• 50
London and Blackwall
London and Birmingham 100 .238 ...... to
Ditto shares
London and South Western ... 4136 ...
Manche3ter and Leeds ... 70 lOl ..... to
Manchester and Birmingham ... 40 .391..... to
Midland Counties 100 ...... 89
Ditto Fifths
Northi Id Ev" .... 45

eern an, —astern
Paris and Orleans
Paris and Hotien .. „.. . ..... 20
Rouen and Havre .... ......... .. 6 ...... 11i
South Eastern and Dover.
Ditto Scrip
York and N:.rth Midland... 5;O ll9i t• 120
MANCHESTER STOCK EXCHANGE, JAN. 4.—We have had
less animation to-day, but prices are not materially altered,
though, perhaps, on the whole rather in favour of the buyer,.
—Bolton and Preston, 26; Manchester and Birmingham, 394 ;
Manchester and Leeds, 102; Half Shares, 45„; Sheffield
and Manchester, 5312- and 54 ex int. ; Ditto, Quarter Shares,
4 7-16th ; South Eastern, Scrip, 371 ; Itothdale Canal, titql ;
Manchester Assurance, 9i.

MARKET NEWS.-(THIS DAY.)

CORN EXCHANGE_FRIDAY.

The supply of English Wheat on sale was very small, and
we had a fair business doing in the article, at fully Monday's
prices. There was a fair average quantity of Foreign Wheat
Malt ;?Id at rather
offering, while the trade with it was tokrahly native, and pre-
vious rates were well supported. Although the returns show an
Peas, and
other kinds little was doing. Superfine
small. Fine
ofF iunp::uradisitoi
qualities
10,000vvere iltitez,n
dt h.: showfull of
prices, Barley
bu
but in
more money, with a firm inquiry. Oats, Beata,
Flour were unaltered in value.

ARRIVALS.
Wheat. , arley. I Cots. Flour
English 2,630 qrs. I 10,530 qrs. 5,' 80 in/. 4,580 ›acks,
Irish
I 2,130
Foreign 4-10
- -

_ Malt, 6,720 qrs. .
The supply of beasts on sale being seasonably large, and the
weather unfavourable to slaughtering, the Beef trade ruled ex.
cessively dull, at an abatement of 2d per 6lbs. FromSeotland
nearly 200, and from Ireland about 70 beasts, were received.
Although the numbers of Sheep were only moderate, viz.,
3,740, the demand for them was very inactive, at barely sta-
tionary prices. Calves were a mere drug, and quite 2d per Sibs
lower than on Monday. In Pigs, owing to the large arrival
in the dead markets, scarcely any hing was doing at late rates.
Alilch Cows sold slowly at from 16/ to 191 lOs each, including
their small calf.

U. d. to s. d.: r. d to s.
Interior 8ea5t5.......... 2;10 3 0 Inferior 5heep......... 3 4 3 8
Secocdmiality ditto... 3 2 3 4 Second nuahty ditto... 310 4 0
Crime large Oxen '1 6 3 8: Coari9-woolled ditto.. 4 2 4 4
Prime Scots, &c.. '3 10 4 0' Southdown Wethers 4 6 I 8
Large coarse Cilves... 3 9 10i Huge Hogs '3 4 4 0
Prime 6inall ditto 4 0 4 6, Small Porkers .. 4 2 4 1
Suckling Calves, each 19 0 30 ( Voarter old Pigs, i,ch 16 0 24 is

SIItYLY AT MARKET.
BMAts.
911 I
Calvvs.
3,740 197

Pirs
350

N :EV/GATE AND mr,itilyu u

ThesuTpliesTrisalTwt:W;(ry large, while the demand ruled
heavy, on the following terms:—
At per stone, try the Carcase.
s. d. to s. oi. s d. to s. d
Beef, let _riot. 2 6 2 8 Mutton, inferior 1 4 318
-- r,-Rkiling ......... 2 1.0 3 0, ----- inuldhng..,... ;i:lio 4 o.
-- !June large. - Nitric 4 2 4 4
-pi iine sump ...... 3 2 34, Pork, large 2 8 3 6
Vaal 3 2 4 41 -.mail 3 4 4 4

110RnUGH 1-10 P ivx.anza:vr.
The supply of both old and new hops offering is still unu-
sually small for the time of year; while the demand for all
descriptions continues active, at further advanced rates.

SUGAR.—There has been an improved demand for British
Plantation, and a good business has been done at gradually ad-
vancing prices, establishing a rise of fully Gil to Is on all de-
scriptions. About 19,000 hhds have been disposed of. For
Molasses there has been a fair demand, and fully former prices
have been obtained. The transactions amoant to nearly 500
puns, consisting chiefly of St. Lucia, at 21s, St. Kitt's at 235,
Dominica at 245, fine Demerara at 265, and Antigua at 275.
MAURITIUS AND BENGAL.—OnIy a limited business has
been done privately, but for the parcels sold extreme prices have
been obtained, and in S3M3 instances an advance of 6d to Is
may be quoted.
FOREIGN.—There has been a partial demand for yellow
Havannah at the prices lately accepted, but owing to the firm-
ness of holders, the business done is confined to about 500 baskets
low to good greyish yellow Java, which have been sold at
18s to 20a.

REFINED.—In grocery descr.ptions a fair business continues
to be done at fully previous prices, and in seine instances a slight
advance has been obtained. In Crushed few transactions have
taken place, owing to higher rates being demanded by holders ;
small parcels have, however, been sold at 265, which is a shade
dearer.

CorFEL.--There has been no demand for any descriptions
admissible for home corvumption,and prices generally might be
considered nominal, excepting for good ord Ceylon, which has
been sold in small parcels only at (iOs Gd to (11s. The public
sales have only offered 105 easks BerlAce and 1,900 bags Ceylon,
which found buyers at and after the sale, the former at 84s 6d
to 99s 6d for low to good mid culoury quality, good to fine ord
broken 57s 6d to 80s, and good ord pale to good ord colory

Ceylon at 59s 6d to 61s 6d, being about former rateg, anti about
on a par with the prices obtained privately for the latter de-
scription. The loner serfs of East India have been only id
martial demand, and the to isiness. done has consequently been
to about 700 bags, colirlefitig chiefly of good ord Ba
tatid, 10 gwidurcl whiett have Nett soldat 121 to 245,
being about the firerioaVAlu. Foreign sorts remain entirely
neglected, holders however continue firm.
-
Cott/A.-311 barrels and bags brought to auction mostly
sold at 42s to 53s 6cl fur ord grey to good red.
RuSt.—hotthe parcels sold rather higher prices have been
obtained. The transactions consist chiefly of 50 puns. Jamaica
at 3s bd to 3s 9d for 33 to 37 per cent. over proof of good
quality f 50 puns D,merara, at 2s tad to 2s 9d for 34 to 36
per coif. oVer ; and 50 puns Leeward, at is 10t1 for proof
strength.
Lim—ln the absence of pttblie sales few transactions have
taken place privately.
SA I,TI ETRE.—For the few parcels sold ttlt•out previous prices
have been paid. A fair business has been done in Nitrate of
Soda, chiefly afloat, at alma Lis 6d.
Stlcts.—Only a limited business has been done in Pepper
or Cosigt Lignea at previous pikes. Pimento has been in-
quired for, htit there are scarcely any parcels offering.
COTTON. —Mete has been an improved demand for this
article, and prices for all descriptions may be quoted fully Ad to
higher.
TEA. —The market seems a little brisker at steady prices.
The home consumption from L'mdon last year was 25,320,000
lbs., being an increase of abort, 2,000,000 lbs. on 1842.
TA LLow.—P. Y.C. is 41s Ed per cwt. on the spot.
HEMP.—Clean is 31s per cwt,