The Sun.
London, England, 1845-12-06 00:00:00

THE OREGON QUESTION.

The New York Journa umf Co;nmerce of the 17th has the
following from its Washington Correspondent :
WASHINGTON, Nov. 15.
_ _ _

The rumour which has prevailed in the city and elsewhere,
that the Administration has backed out on the Oregon ques-
tion, is of doubtful correctness. Were it true, it would render
this Government the laughing-stock of the world, and would
do no possible good ; for it is very well known that, the moment
this Administration leaves it position, the Whigs are ready
to take it up, under the lead of "Tom Corwin, the waggon
boy," who is about to take his seat in the United States
Senate, and is, at this moment, the leading candidate of the
Whig party for the next Presidency.
Looking at the history of the Oregon question, it would be
easy to find reasons enough for the position of the present
Administration in regard to it, without the surmise that it
originates in a petty personal jealousy, of which Mr. Calhoun
is the object.
Having listened for years to all the debates in Congress on
this question and having read all the correspondence re-
specting it, I must say that I never yet have met with but
one view of our title to Oregon. There has been a difference
of opinion in regard to the time and mode and extent of
asserting it. During the last three or four sessions, particu-
lary, the debates have been earnest and interesting on the
subject, and not one speaker ever intimated a doubt of our
title. The subscription of Mr. Greenhow's book was advo-
cated by the Whigs, on the ground that it would fully con-
vince and satisfy every one of the validity of our title, and
it was opposed by the democrats on the ground that they
wanted no other or further evidence than what they already
had.

Is it to be forgotten that Mr. Polk was elected upon the
Oregon and Texas questions? Is it known that the whole
country, at that election, sanctioned the resolution of the
Baltimore Convention, which declares " our title to the whole
of Oregon to be clear and unquestionable ?" Mr. Polk, in
his inaugural address, re-echoed that declaration, and in
the same words. Can it be expected that Mr. Polk will
now, under the influence of an artificial panic (which
as Mr. Webster says, is "half as bad as a war"), with
which Mr. Polk has had no agency in making, back out
from his own solemn declarations—repudiate the sanctioned
opinions of his party—turn traitor to all those obliga-
tions which the action of four successive Administrations
have imposed upon him—and all for what? To enable the
Opposition to take the question out of his hands and manage
it themselves, and elect a Whig President upon it. Should
Mr. Polk say anything less than what he said in his inau-
gural address, he will merit and receive the universal contempt
of all parties and of the whole world. Anything more it would
be unnecessary for him to say—for legislative action on the
subject depends upon Congress. His plain duty is to repeat
what he has already said, and what has been the universal
language of every statesman and every party up to the hour
of this useless and incomprehensible panic.
Tue CABINET.—The Union says of Mr. Buchanan, " that
it depends altogether upon himself whether he will leave the
Cabinet, and our own decided impression at present is, that
there will be no change at all."
FORTIFICATIONS OF KINGSTON, CANADA.—We copy the
following from the Kingston Gazette of Nov. 8 :
"A requisition has been addressed by the respective officers
of the Board of Ordnance to the Corporation of Kingston, for
the immediate possession of water-lots fronting the Town-
hall, the property of the Board of Ordnance, but of which
the town has long had the privilege of occupation. The lots
are at present covered, in part by the wharehouses and office
of Messrs. Macpherson and Crane, but we presume sufficient
time will be allowed these gentlemen to make the necessary
arrangements for the removal of their business.
" We understand that the contracts for the contemplated
military works at this post will, in a very short time, be
issued, in order to enable the contractors to get out the
necessary stone during the winter; the building, &c., to be
proceeded with in the spring."
We annex commercial accounts from the Courier and
quirer of the 17th ult :
The operations at the Board of Brokers MI morning were
to about the usual extent.
Previous to the closing of the Eastern mail a moderate
business was done in foreign exchange. London, 109 to
1081 ; Paris, 5.25 to 5.26*.
Cotton—The market remains inactive, and prices have a
downward tendency.
Flour—There has been less firmness in the market to-day,
and sales of Genesee, Ohio, &c., have been made at 6 doll's.
50c.' and of Michigan at 6 dolls. 44c. ; common southern is
held at 6 dolls. 25c.

1,000 bushels of rye malt sold at 83 cents, delivered ;
14,000 bushels rye (for export) at 80 cents; 3,400 bushels of
barley on private terms ; 3,000 bushels of southern corn at
76 cents weight, and 2,000 bushels of northern corn at the
same price.

Provisions were steady to-day, with a moderate demand.
The Canadian papers publish the following bulletin re•
specting the health of the G.)yernor-General :
" Monklands, Nov. 11.

" The health of his Excellency the Governor• General has
for some time been steadily improving, and he continues to
take an airing daily in his carriage, when the weather
permits.

" JAMES CRAWFORD, M.D.
" ROBERT L. MACDONNELL, M.D."

COMPARATIVE VIEW OF THE
PANIC IN 1836 AND 1845.
TO THE EDITOR OF THE SUN.
Six,—The inclosed digest may be deemed worthy of a
place in your excellent journal.—Yours,Pc.
A MANCHESTER MERCHANT.
1836. 1845.
Cotton, 11d.per lb 4i per lb
7-8 Printers, 9s
Consols,-87i 95
Bullion, 4e millions 13i millions
Interest in America, 20 5 to 6 per cent. and abundance
to 30 per cent of money
Panic in America Trade good in Anseries
Corn in America, deficient Enormous
Cotton ditto Ditto.