The Sun.
London, England, 1844-03-14 00:00:00

THE SUN, LONDON, THURSDAY EVENING, MARCH 14, 184

ber, 1843, Greece paid 1,000,000 f. on account of the second
half-year of 1843, and France had to advance 193,901 f. 69c.
towards the completion of this payment. This sum of
903,901 f. 69c. is comprised in the Bill for granting supple-
mentary credits for 1843. The Government requires a grant
of 527,244 f. to enable it to pay its portion of the first half-
year's interest of 1844. The Committee has acceded to the
demand of the Government, which, without ceasing to en-
gage Greece to adopt and follow the most rigid system of
economy, isounwilling to cause any embarrassment to the new
Government.

Lord Ranelagh has arrived in Paris, on his way to London,
from Bourges, where his Lordship has been in confidential
communication with Don Carlos.

Some of the Paris journals have mentioned a report that
his Royal Highness Highness the Duke de Nemours was se-
riously ill. We are happy to state that his Royal Highness,
who has been suffering from a severe cold, is now much better.
"We are assured," says the Commerce, " that the Govern-
ment intends to withdraw the Bill on secondary instruction,
on account of the Committee of the Chamber of Peers being
desirous of separating the Ministry of Public Instruction
from the attributes of the Grand Master of the University."
THE BOURSE—TUESDAY, MARcii 12.

AMERICAN NEWS

FOURTEEN DAYS LATER FROM THE UNITED
STATES.
LIVERPOOL, WEDNESDAT.

The Royal Mail steamer Hibernia, Captain Jud-
kins, arrived in our river this afternoon, after one of
her usual quick trips across the Atlantic. She left
Boston on the Ist inst., and has therefore been only a
little over twelve days, including stoppage at Halifax.
She has brought papers from New York fourteen
days later than those last received by the England.
A most awful calamity occurred on board the
frigate Princeton, by the explosion of her long gun,
and during a pleasure excursion, when several hun-
dred guests were on board. The Secretary of State,
Secretary at War, and several other men of eminence,
were killed on the spot.
Mr. Nicholas Biddle, the once celebrated banker,
died at his house near Philadelphia.
We regret to announce the sudden death, on the
Bth instant, of John Everleigh, aged twenty-four, the
second mate of the Hibernia. The deceased was the
son of the late Captain Everleigh, R.N.

manders of both ships are above any, the slightest suspicion
of conniving at such transactions.
Harris, the boatman, has been admitted State's evidence.

NEW YORK MONEY MARKET.

FEB. 29.—The steam-ship Hibernia leaving Boston for
Liverpool to-morrow, we give our usual comparative tables
of quotations for stocks and exchange. Since the departure
of the last steamer, the movements of trade and our great
staple articles of export, have become more developed, and
are settling into a more regular and steady channel. Lx-
change has improved very much within a shore period. At
one time rates reached so high a point that it was found
specie would have to go forward. Bill holders, however,
kept their demands just below a specie standard, which
buyers submitted to rather than risk shipments of the pr.
cious metals. 'Within a week or two cotton has gone for-
ward very rapidly, and the result has.been a great decline in
foreign exchanges. Speculators in this production, on this
side, do not like the complexion of the Liverpool market.
They are fearful that the tenor of further advices will be far
from favourable. The last accounts were of so peculiar a
nature, that the present race of speculators, who are mostly
novices in the business, do not know what to make of them.
In New Orleans and Charleston rates have declined, while
at Savannah and Mobile they have advanced. The latter
quotations at all the ports were those ruling after the demand
for the steamer had been satisfied, and can be considered a
little under the current rates of a few days previous. Below
we give the quotationi-for foreign exchange in this market
for the past three months, by which it will be seen that the
present prices are nearly as reduced as they have been at any
time within that period.
RATES OF FOREIGN BILLS IN NEW YORK, FEB. 29.
Dec. 15. Dec. 30. Jan. 30. Feb. 29.
London.... 83 a. 83 109 a 1033 109 a 1091 83 a 9
France .... 5 323 a 5 333 b. 273 a 530 a 5 323 530 a 5 283
Amsterdam 393 a 40 a 393 a 40 393 a4O
Hamburgh 35 a 354 351 a 353 a 351 35i a 353
Bremen.... 773 a 773 783 a 79 781 a 783 784 a 783

If the present feeling continues as regards cotton, and
every bale is pressed forward as rapidly as possible, exchange,
as a natural consequence, will find a very low level. The
advices received per the Hibernia, will probably create the
same feeling as they circulate through the South, that is
experienced here,which will be followed by a similar anxiety
to get their stocks into the market. Should this become ge-
neral through the country, speculators will not cavil about
freights, but at once submit to the current rates, for imme-
diate departure. A heavy amount of cotton arriving in
Liverpool would immediately depress the market. *lt is only
by short supplies and unfavourable reports from this coun-
try, that the highly speculative feeling was created in Liver-
pool. Destroy that charm, and the foundation of specula-
tions is at once knocked away. During the whole course of
our long experience, we do • not recollect a single instance
where the yield of a crop did not exceed the anticipations.
There is not much doubt but that the present crop is hun-
dreds of thousands of bales below that of last year ; but that it
is below the average, we should hesitate a long time before
believing. Speculators and consumers abroad interested in
this staple should make great allowances for the various in-
terests at work in this country to create impressions favour-
able to their views. The great object to arrive at in all
the movements of this article, is regularity of supply, price
and demand. The result of! speculation is invariably in-
jurious.
The improvement that has lately taken place in State
Stocks, in this market, cannot be , traced wholly to the
movements in the different Legislatures. The advance in
a measure has been produced by the abundance of money
and the withdrawal of capital from investment in cotton,
and re-investing it in stocks. This is of course a specula-
tive movement. Very little capital is permanently invested
in the stocks that are used for speculation in Wall-street.
Among the many stocks that are day after day used by thee
brokers for all their operations, a few are of a sound sterling
nature. Kentucky State Stocks, for instance. is as valuable
a security as can be produced, but its character is injured by
its being so much used for speculation.
The movements of the Legislative bodies in the different
States have not as yet resulted in any decided step in relation
to their debts. The Committee of Ways and Means in the
Legislatures of Pennsylvania and Maryland have reported
Bills providing for the payment of the interest on their debts.
There has yet been no action on them, but the impression
appears to be. general that they will ultimately pass and
become laws. A few days since we published a synopsis of
each Bill. That introduced into the Legislature of Penn•
Sylvania suggests the levying of a tax on property heretofore
untaxed, entirely for the purpose of paying the annual in-
terest on the total amount of their indebtedness. The revenue
arising from this Bill to be appropriated exclusively to that.
It also equalises taxation, and levels the barriers that have
heretofore prevented a full collection of the amount levied.
It leaves no cause for complaint, and the tax-gatherer will not
meet with the insurmountable difficulties that have before
beset his path.
The Bill introduced into the Legislature of Maryland is
of a different nature, but ! its enforcement would produce the
same result. It proposes the sale of the State's interest in
all corporated companies, such as stock in banks and turnpike
roads, the payment for which will be received in certificates
of interest, or any other evidence of State indebtedness. It
fixes the first day of April of the ensuing year, when the
State shall resume the payment in cash of the interest on
its bonds. It provides for the payment of the interest in
arrears, by the sale of bank stock held by the State, by appro-
priating the arrears of taxes for 1841 and 1842, and the inte-
rest due from the Tide Water Canal Company. The pas-
sage •of this Bill through the House of Delegates will
be watched with a great deal of interest, as the
prospect of its becoming a law is at present very un-
favourable. The doings in the Legislatures of other States
are of no particular interest. Those of Mississippi and
Louisiana have as yet amounted to nothing. That of
Michigan is discussing_ the policy of selling all the works
of internal improvement in the State, but as they are so
rapidly increasing in productiveness, it is supposed they will
retain possession, as the anticipated receipts will more than
pay the annual interest on the total indebtedness of the State.