The Sun.
London, England, 1844-05-16 00:00:00

_ .
the intelligence it would awaken, and the .accession 3 r
to au economic knowledge it would inevitably develope. TIIIS DAY'S NEWS.

We find little or nothing of importance in the Ma-
drid papers of the Bth, if we except the slaughter of
a number of smugglers on the sea coast of Grenada.
On the 3d instant an encounter took place at Ahneira
between a body of these daring outlaws and some
detachments of cavalry. Twenty smugglers are
stated to have been killed and ten wounded, and the
goods they were escorting were captured.
The Spanish Funds still remained very low. The
Three per Cents. on the Bth closed at 29, and the
Fives at 22, both for 60 days.

We find no domestic intelligence of importance in
the Paris journals. The accounts in them, however,
from other quarters, are unfavourable and of a dis-
tressing character. The POPE, it appears, is as little
inclined to show mercy to political offenders, as the
blood-thirsty Government of Spain. We learn from
Bologna, that the military commission which sat in
that town some time since, had condemned twenty
persons to death, thirteen to the galleys for life,
three to the galleys for twenty years, and two for
five years, with the confiscation of all their property.
Of the twenty condemned to death, fourteen had
their sentence commuted to condemnation to the galleys
for life, and the remaining six were shot at Bologna,
on the 4th instant, at four o'clock in the morning.
The names of the unfortunate victims are—MoNARI,
GORONI, VARONESSI, LANDI, RABBI, and MIN-
GIIETTI. These executions, too, by the Head of the
Church, excite the more sympathy, as it is generally
admitted that the late insurrection had only one object
in view—the redress of grievances, and that the
system of government in the Legations is the worst
possible. We learn, also, from Munich, that a large
number of arrests had been made in that capital, on
the 6th and 7th instant. No further danger, how-
ever, was apprehended, for the KING, as will be
seen from a letter of his MAJESTY'S, had resolved to
set out for Italy without delay.- The following docu-
ments appear in the Munich Gazette of the 7th inst.:--

" I have the honour to notify to the citizens dais capital
an autograph letter which has reached me from his Majesty
the King.

" Doctor BAUER, First Burgomaster.

" Munich, May 7, 1844.
" 4 Mr. Burgomaster Doctor Bauer,—Amidst the crimes so
sorrowful to my heart, of which my capital and residence has
been the theat. e during the first three days of the present
month, I have beheld with joy and consolation the firm atti-
tude of the citizens, and the intrepid zeal with which they
have co-operated in the restoration of order; and I have
found fresh proof of the spotless fidelity, and of that good
feeling which have, at all times, and in all circumstances,
distinguished those citizens. The confidence which that
fidelity and tl:at feeling deserve, induces me to undertake,
without any hesitation, now that order and tranquillity are
restored, the journey long determined upon for the strengthen-
ing of my health. I commission you, Mr. Burgomaster Dr.
Bauer, to communicate this to the citizens of my capital and
residence, at the same time expressing the satisfaction their
conduct has given me, and assuring them that my heart is
intent or. their welfare, as well as on that of all the faithful
subjects whom God has entrusted to me.—Your affectionate
King, " LEWIS.
" Munich, May 7, 1844: "
We learn from the Revue de Paris, that the Prince
de JOINVILIA is about to publish a pamphlet, which
is looked to with some interest, and is entitled " Notes
on the State of the French Navy." That journal
gives one extract from it, in which the Royal author
states that he has visited all the ports of France, and
several of those of England, and that the navy, espe-
cially the steam navy, of France is greatly inferior to
that of England, and below what it ought to be, con-
sidering the power and wealth of the country.
On Tuesday the French Funds fully maintained
the prices of the previous day. The Three per Cents.
closed at 84f. 45c. ; and the Fives at 122 r. 30c.

THE BOURSE--TUESDAY, MAY 14.

First Highest Lowest Last

Price. Price. Price. Price.
French Five per Cents 122 15 .. 122 15 .. 122 10 .. 122 10
Three per Cents.• • 84 45 • • 84 45 .. 84 30 .. 84 30
Bank of France• •.• • • 3120 •.3120 • 3120 —3120
Lattitte Bank, I,ooof. Sharesll67 50 ..1167 50 —1167 50 ..1167 50
5,000 f. Sharessl62 50 ..5165 ..5162 50 ..5165
Belgian Bank..
1841 1103 —llO5 ..1105 —llO3
BelghuiFives,lB3l.. • • 1041 .. 105 .. 1041 •• 105
1840 •••• • • •• 106 .. 106 .• 1051 .. 104
1842 •• • •
Spanish Active •.• . • '. 331 .• 331 • . 331 • • 331
Threes .... .•
Passive .. 61 .. 61 .. 61 .. 6*
New Deferred.....- 14 • • 14 • • 14 .. 14
Old Deferred ...... 71 • • 71 • • 71 .. 71
Neapolitan•• • • •• •• .. 102 25 .. 102 25 .. 102 25 .. 102 25
Roman, ex di. .. 1041 .. 1041 .. 104* .. 104#
RAILWAY SHARES.
St. Germain'.• •• •• 810 810 .. 810 .. sin
Ver5ai11e5,11.13..............375 • • 375 .. 375 .• 375
L. 13.— ...• ...... 242 50 .. 242 50 .. 242 50 •• 242 50
Rouen . .......... ......... 975 .. 978 75 975 978 75
Rouen to liavre• • •• • • • . 733 75 • • 740 • . 737 50 ..740
Orleans .• • .• • • .... 985 .. 986 25 .. 985 .. 986 25
Strasburg to 8a.1e.. •• • • .... 272 50 .. 272 50 .. 270 .. 271 25

RAH WAY SIURES, FOR THE ACCOUNT.
Verailleg,R.B..... 375 .. 375 • • 375 .. 375
L. 8.• •••• • • • • • •• 242 50 .. 243 75 .. 242 50 .. 243 75
Rouen •••• •••••• •••••••••• 978 75 .. 980 .. 978 75 • 980
Rouen to Ilrvre••••••••••• 740 .. 740 .. 738 75 .. 738 75
Orleans
Strasburg to Bale.••• •••••• 272 50 .. 272 50 .. 271 25 .. 271 25

We strongly recommend to the best attention of
our readers a succinct and very able communication,
in another part of our columns, exhibiting a con-
trasted view of the arguments on which the main
propositions in the Government "Resolutions" rela-
tive to the bases of a renewed charter to the Bank of
England, are grounded, and of the principles upon
which the opponents of the Government "scheme," as
therein embodied, rest their opposition to the views
announced by Sir Robert Peel on this question. Our
Correspondent clearly shows that the analogy be-
tween the cases of a Government issuing paper and a
Government issuing coin, on which Sir Robert re-
lied so much, is not simply untenable, but a very
absurd fallacy. H e is not less happy in demon-
strating that the danger of over-issues attaches ne-
cessarily to the Bank of England, even under the
modified system, of management suggested by the
Government "Resolutions;" but that, from the ab-
sence of the causes which involve this necessity, as
to the Bank of England, such danger is not to be ap-
prehended,
and in the nature of things could not
arise from, the provincial, private, and joint-stock
banks.

THE COURT.—Her Majesty and Prince Albert, at-
tended .by the Royal suite, are expected to arrive in
town about half-past five o'clock this afternoon, from
Claremont. The Prince of Wales and the Princess
Royal will accompany their Royal parents.

A Cabinet Council will be held this afternoon at
the Foreign-office, Downing-street. The summonses
for the meeting were issued by Sir James Graham.
All the Ministers are expected to attend.
MORTALITY IN THE METROPOLIS.—The number
of deaths during the week ending Saturday, May 11,
was 812 ; previous week, 877; average, 883. Deaths
from diseases of the lungs are 28 below the average,
and from old age there is a decrease of 27. The num-
ber carried off by small:pox was 27, beingls above the
average, and of that number 18 had not been vacci-
nated. During the week there had been 5 suicides.
The thermometer stood highest on Thursday, marking
74.1, and lowest on Monday, 44.3.

SAVINGS' BANKS.
TO THE EDITOR OF THE SUN.
Sia,—When, Sir Robert Peel brought in his op-
pressive Income-tax Bill, he distinctly stated that he
should exempt the " Savings' Banks" from its opera-
tions ; and yet, in no very great length of time after-
wards, he brings in a Bill for the reduction of in •
terest, not certainly to the extent of sevenpence in
the pound, as in the case of the fundholder, &c., but
to an amount which, proportionably to the poor man,
is more heavy and severe. It is generally believed
that, ni:4withstanding the frequent remarks of certain
interested persons as to the country bein losers by
these safe depositaries of the poor man s earnings,
Government are gainers to an extent of not less than
35,000/., and if a return could be obtained of all the
sums paid and received for stock, Exchequer bills,
&c., purchased and sold. with the prices of such sales,
it would be clearly seen that the above sum is not
over stated.
The public should, also, know the amount in
Government's hands of the " Surplus Fund"—there
should be no mystery in banks of any kind, still less
in the " Poor man's bank." The reduction of interest and
limit as to amount, in the Bill now before Parliament,
is a great injustice to the working man, and will go
far to annihilate a very considerable uumber of tile
smaller banks, as it will be impossible fur them to
exist under the present Bill. Thus, then, incalculable
advantages derived to the working classes, and to the
country generally by these establishments, will be
frittered away; and the vain boast of Sir Robert Peel
on introducing his famous Income-tax Act, that
" he would not touch the funds of the Savings' Banks"
falls to the ground.
I am, Sir, your obedient servant,
May 11, 1844. VERAX.

LADY BROUGHAM'S ASSEMBLY.---LaSt night her
Ladyship had an assembly at her residence in Grafton-street.
Above 250 persons of distinction were present, including the
Lord Chancellor, Duke of Buccleucb, Sir George Murray,
Sir Frederick Trench and Lord Ashley, who came from the
entertainment at the Mansion-house in their full dress, the
Duke of Wellington, Duke and Duchess ofßticeleuch, Duke of
Cleveland and Lady Augusta Paulet, Countess de St. Auaire,
Marquis of Normanby, Marquis and 3larchionesz of Ailes-
bury, his Excellency Prince Castelcicala, Marquis of Salis-
bury, 3farchioness of Clanricarde and Lady Elizabeth de
Burgh, Marchioness of WeAineatli, Lady Lyndhurst, and
Countess of Jersey.
The receipts of the London and Brighton Railway
for the week ending 4th May, were 3,547/. 6s. Bd. In the
corresponding week of last year the receipts were 3,0821.

MORE YARD CO N-JMERCIAL NEWS. I
CITY, QUARTER TO THREE.
The Cotton Market at Liverpool yesterday was very flat,
and prices receded Ad. per lb., being id. since Friday. About
4,000 bags were sold.—There was no change in the Share
Market, and not a great deal was done:—North Midland,
90/ ' • Paris and Lyons, 31. Is. ; Ditto and Orleans, 38*; Ditto
and Rouen, 37i ; South-Eastern, 38i ; Ditto New, 12a ; Great
Western Half, 76.
Much satisfaction has been expressed among the commer-
cial and shipping interest by the announcement of the fact,
that the Commissioners appointed. to consider the most im-
portant subject of constructing refuge harbours, are really
actively engaged in the task delegated to them. Our Dover
correspondent mentions that yesterday the Commis-
sioners, nine in number, were all day off that
port taking surveys and soundings. For the pre-
servation of life and the sefety of property, it is ardently
hoped that the Government will not withhold the most
ample means to construct harbours of refuge in all much-
frequented parts of our sea-girt isle, where at present such
accommodation is needed.
It is the current statement in the City, that at the meeting
(a private one) of the Joint-stock Banking interests, held
yesterday, the propositions of the Chancellor of the Exche-
quer fix the renewal of the charter of the Bank of England,
the regulation of the currency, &c., met with pretty general
approbation—that is, no opposition is to be made to them :
the advance towards one bank of issue, however, is not liked.
The private commercial accounts received from the United
States and Canada, do not read so well as could be wished.
After all the crop of . cotton will reach very near 2,000,000
bales. The Tariff Bill occupied a large share of the attention
of the mercantile interests of the Stetes, as well as of the
British North American colonies. The Stock and Share
Markets of New York were in an unsettled and fluctuating
condition. The state of trade in Montreal is thus referred to
in our advices :—" We have, within these few days, had
opportunities of conversing with gentlemen on their return
from journeys of business, made to different parts of the
United Province, in anticipation of the breaking up of the
frost; and the accounts they give of the prospects
of the spring trade are' uniformly favourable, both as
respect imports and exports. With respect to the former,
money is more abundant than it has been for some
time, and the lightness of stocks in the stores of the dealers is
uniform. With respect to the latter, a great improvement in
the lumber trade is genes ally anticipated on the opening of
the navigation; and near and above Montreal, in the more
cultivated parts of the country, the grain trace is already in a
state of great activity. Not merely are large shipments in
preparation in the Westein States, by way of the NVelland
Canal and the St. Laurence ; but there will be a more consi-
derable amount than ter several years to export from the pro-
vince itself."
Not a great deal of business has been done this morning
in the public securities. The quotations of Stock have been
rather heavy. Consols for Money and the Account have
fluctuated but from 991 to 991 a. The Commissioners bought
20,0001. Reduced Three per Cents. at 981. For Bank Stock
the market is again lower, the presumption being that under
the New Bank Charter law the profits of the corporation
must be diminished. Some sales were •made of Bank Stock
this morning at 191, a fall of 2 per cent. on the previous
value. The price now it 192. India Stock is 1 per cent.
lower, and Exchequer bills have gone back from 70s. to 675.
9d. premium. The Three-and-a-Half per Cents. have not
varied much.
Spanish Bonds have been flat this mornirg, the Three per
Cents. at from 351 to 354, and the Actives at 241 11, the
lower value being the latest. For Portuguese Converted
Bonds have been quoted only at 46/, the Dutch Two-and-a-
Half per Cents. at 61, and the Five per Cents. at 1001 j.
Mexican Stock was offered at 351, and the Deferred at 15g.
In the Share Market prices scarcely rule so high. The
London and Birmingham Railway, at 130 prem., have just
been sold at 122 prem., but are rather better now. The
Great 'Westerns keep their ground ; the South-Western are
rather higher, but the Birmingham and Gloucester are rather
heavy. Santiago de Cuba Shares command a rise to 10
prem., and the London and Westminster Bank Shares are at
61 premium.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)

Bank Stock - 1923¢ 193 192
3 per Cent. Reduced Annuities
3 per Cent. Consols. Annuities 9936Viw
3% per Cent. Annuities, 1818 lOl%
S per Cent. Annuities, 1726 9B
3% per Cent. Reduced Annuities
New 336 per Cent. Annuities 102%%
Long Annuities, Expire sth Jan. 1860 l2 7-16%
Ditto 30 Years, Expire sth Jan. 1860.
India Stock
Bank Stock for Account
Consols for Account

Exchequer Bills, 13icl. I %el.
1,0001.
5001
Ditto Small

FOREIGN FUNDS THIS DAY AT ONE O'CLOCK.
Mexican Bonds, 1837, 5 per Cent. ..... .. ..... :15%
Ditto for the Account 3s!ii %
Ditto Deferred Stock 153%
Portuguese Bonds, 5 per Cent.
Ditto Converted 4,i3¢
Spanish Bonds. Five per Cent 1840 .....
Ditto for the Account
Ditto Passive Bonds.
Ditto Three per Cent. ........ .................
Ditto for ithe Account
Dutch 234 per Cents 60% 61
Dutch 5 per Cents 10054%
New Loan 1837, 5 per Cents...—. 99,4%
PRICES OF SHARES THIS DAY AT ONE,
RAILWAYS. PAID. PSR SHAWL
Birmingham and Gloucester IOO
Chester and Holyhead 5 ......... 6%.: to
Dublin and Cashel ... 234 4% ...... to
Eastern Counties
Edinburgh and Glasgow 5O ." ••....•• 66
Ditto Registered ....... ..'........ 12%...... 16 ....
Great North of England.
Ditto ;6 5hare5..„.„....„........ 50 ..... .... 76%
Ditto Fifths
Harwich (Braithwaite)
Ditto ( L0cke)....... ..... ........` 2% 2% to
London and Birmingham. -10 U 222 .... ..... to 2:5
London and Blackwell 1634 ..—. 734
London and South Western ...... 41% ...... 87
London and Croydon
Manchester andpirmingharn ... 40 .... „ 57%
North Briti,h 254
Northern and Eastern 45 5754 ...... to
Norwich and Brandon
South Eastern and Dover ......... 32%
Ditto New
Yarmouth and Norwich
Paris and Orleans ........„ ....... ~,, 20
Rouen and Havre.

JOINT lITOCY BANKS.
London and Westminster 2O 'A% to

3IANCIIESTER STOCK EXCHANGE, MAY 15.—We have no
material change in the state of our market to- day :—Eastern
Counties, 12a ; Manchester, Bolton, and Bury, 108 i : Man-
chester and Leeds, Quarters, 9a ; Trent Valley, 10i ;
Manchester and Birmingham, Quarter Shares, 5 5* prem.
South-Eastern, New, 12* ; Paris and Strasburgh, 2* ; Man-
chester, Bury, and Rossendale, 6 3-16.

- - - -
LLOYD'S SHIPPING.-(THIS DA Y.)
Loxvox, MAY 16.—Wind, light westerly breeze and fine.
COWES, MAY 15.—Arrd. Venus, Higarne, Batavia.
FALMouTH, MAY 15.—Wind, variable and light.—Off,
Maria, Milley, Calcutta ; Flora, Reeves, Valparaiso • Trotum,
Bahia, for Altona ; Andromache, Barbadoes ; Olof, Charles-
ton, for Amsterdam ; Lucas, New York, for Cronstadt ;
Erneald, Layton, and Bridge, Baker, St. John's, N.B. ; Hor-
tensia, Buenos Ayres.
OFF DOYER, MAY 15.—Montreal, Newcastle, for Cape of
Good Hope; Caroline, ditto, for South America.
.
OFF BEACHY HEADCl;ristian, Batavia, for Altona.
PORTSMOUTH, MAY 15.—Wind, N.E., fine.—Arrd. Maid of
Athens, Lary, St. Helena.
DEAL, MAY 15.—Wind,N.E., fine; E.N.E.,
fine.—Sld. Henry, Rio; Victory, and Brunswick, Quebec;
and the outward bound.
OFF HASTINGS, MAY 15.—Port Fleetwood, Vidler, Cape of
Good Hope ; Gibraltar, Forman, Dominica.
PLYMOUTH, MAY 15.—Wind, variable.—Off, Pysche,
Stephenson, Singapore.
NEWPORT, MAY 14.—The Severn (steamer) which sank,
March 4, the river, has been repaired and put into the
graving dock.
PWLLHELI, MAY 13.—The Mary Ann, of Bamworth,
which sank here, March 16, has been raised, and is now
lying at Fachall.
OFF SALCOMBE.—Pioletta, Rio, for St. Petersburgh ;
Natchez, Boston.
OFF EDDYSTONE, MAY 11.—Amelia, Havannah, for Stettin.
LIVERPOOL, MAY Is.—Wind E., moderate.—Arrd. Bleng,
Stewart, Singapore; Reliance, Bedford, Ceara; George
Canning, Mat anham ; Alexander, Jamaica; Champlain,
Maranham, and Potomac, New Orleans; Acadia (steamer)
Boston, sailed Ist inst. Off, Nimrod, Alcie, and Lord Seaton.
A ship was seen ashore to the eastward of Havannsh, 13th
ult., with her head east, and a brig on Lookey, 17th ult.
OFF HOLYHEAD, MAY 14.—Oscar, Steed, Africa, all the
crew dead, except two.
OFF CAPE CLEAR.—Essequibo, Cain, Cape of Good Hope.
LONDONDERRY.—Arrd. Mary Stewart, Welber, Trinidad.
Sld. Ann, ditto ; Envoy and Sea Nymph, St. John's, N.B.
BRISTOL, MAY 15.—Sld. Mohawk, Africa.
SWANSEA, MAY 15.—Cynthia, Golsworthy, Cuba.
ST. JOHN'S, NEWFOUNDLAND APRIL 23.—Ninety-five
vessels have put back from the seal fishery, some with
damage, sixteen are reported to be lost among the ice, which
is unusually heavy and dangerous.