The Sun.
London, England, 1842-12-27 00:00:00

NAVAL OFFICERS DISTIN-
GUISHED IN CHINA.
We regret to learn that our gallant friend, Captain
Charles Richards, who lately distinguished himself in
China, and was so honourably mentioned in Sir NV.
Parker's dispatches, has been seized with serious ill-
ness, in consequence of the hardships he endured.
Captain Richards was in the Albion, at the battle
of Algiers. He was long stationed at Portsmouth in
the Victory and Britannia, and was Flag-Lieutenant
to Admiral Bouverie, when Superintendent of the
dockyard.
Captain Peter Richards, of the Cornwallis, who was
also honourably named in the Admiral's dispatches,
was First Lieutenant of the Queen Charlotte at the
battle of Algiers, and served on shore at the attack
upon Chin-hae and Segahon, as well as at Chin-
k iang-foo.
Captain Bourchier, C. 8., has been in all the affairs
in China. He commanded a brigade of seamen at the
capture ofCanton, was engaged at Amoy and Cbin-hae,
and at the attack upon the camp at Segahon, as well
as at Chin-kiang-foo.
Commander R. B. Watson was First Lieutenant of
the Calliope, at the capture of the forts of the Bocca
Tigris and Canton ; commander of the Blenheim, at
Amoy, and of the Medeste, at Chin-hae and Segahon.
Commander W. Maitland, who killed two manda-
rins at Chin-kiang-foo, was First Lieutenant of the
Benbow, at the attack upon Tortosa, and the bom-
bardment of St. Jean d'Acre.
Lieutenant W. T. Bate, who had the honour of
capturing a mandarin, single-handed, was mate of the
Blenheim, and was wounded at Canton, in 1841,
and has served in all the affairs in China. Mr. Bate
was son of the late excellent Captain Bate, who died
when Governor of Ascension.—Hants Standard.

MONEY MARKET and CITY NEWS.
FROM THE MORNING PAPERS OF THIS DAY.
-.CITY, MONDAY EVENING.
POST.—The London payments of the Yorkshire
Agricultural and Commercial Joint-stock Bank have
proceeded to-day at the house of agency as hereto-
fore. The deputation of gentlemen sent up to town
by the Directors have returned to Yorkshire, where
they will lend their assistance in the negotiations for
the transfer of the business to another bank, which
it is believed will have a successful and mutually
satisfactory termination.
The banking derangements in the North of Eng-
land are owing more immediately to the late failures
in the corn trade.
The Canada papers by this arrival state that, in
consequence of the advices from England regarding
American provisions, some of the largest holders had
withdrawn themselves from the markets. The stock
of beef at Montreal had been almost wholly absorbed,
the late low prices having induced large shipments
to this country. The last sales made were at 21
dollars for cargo, 4 dollars for prime, and 64- dol-
lars for prime mess. The stock of American pork
was estimated to be about 40,000 barrels, and
cargo had realised 4f dollars, prime 5} dollars,
prime mess 7 dollars, and mess 5 to 18i dollars.
Canadian cured provisions had ranged from ss. to
7s. 6d. per barrel higher, which was, in reality, lower
than the price of American, as the atter are inadmis-
sible in this market, unless at 13s. per barrel extra
duty. The entire supply of Canadian pork had
already been shipped to England.
The project started some time since by the mer-
chants of Halifax, for fitting out vessels from that
port for the prosecution of the whale fishery, and in
furtherance of which subscriptions were entered into,
is about to be carried into execution. Two vessels,
namely, the ship Rose and a new brig, were upon
the point of being sent on a whaling voyage. It
was expected that Halifax would be much benefited
by the measure, as it would have the effect of retain-
ing a large amount of capital in the city, while it
would render the province independent of the Ame-
ricans for supplies.
TIMES.—The commercial and financial portions
of the President's Message. which appeared in the
whole of our yesterday's impression, are necessarily
the chief objects of consideration in the City to-day.
From his declaration that extravagant duties defeat
their own object by setting the agricultural and manu-
facturing interests in opposition to each other, and
by holding forth a temptation to contraband trade, it
will be seen that Mr. Tyler clearly perceives the ne-
cessity of a more liberal tariff, and that the modifica-
tions of a law, which he confesses was hurried through
Congress, will, if his wish is carried out, be made in
the direction of free trade. The warehousing system,
which has for about a month past been advocated in
the American papers as a relief necessary under a pay-
ment of cash duties, and as a prevention against the
whole of the export trade falling into the hands of a
few wealthy capitalists, will, it is evident, find an ad-
vocate in the President. The Exchequer plan which is
proposed on this occasion for the reformation of the
currency is the one that was brought forward at the
beginning of last session. The choice lying, as Mr.
Tyler observes, between an exclusive specie currency
on the one hand, and Government issues on the other,
he selects issues made directly by Government agents,
and therein differs from the sub-Treasury plan, by
which all currency but specie was excluded. It is
useless to repeat hero the description of a scheme
which was so long before the public, especially as it
will be brought forward in detail, and will be fully
discussed in the course of the present session.
The message of the Governor of Virginia, which
is given in the papers of the present arrival, contains
a review of the participation of this State in the
course which produced the present financial difficul-
ties. A mania in favour of public works, without
due reflection on the means of paying for them, created
the debt.

The message of the Governor of North Carolina
shows that that State, which has hitherto been free
from debt, has " loaned" its credit to two railroads,
to the amount of 1,050,000 dollars, and has subscribed
600,000 dollars to the stock of one of them, the inte-
rest on the bonds being paid by the roads if they can
earn sufficient. From the proceeds of the public lands
he expects 22,917 dollars.
From the message of the Governor of Missouri it
appears that the receipts for the two years ending
September 30, 1842, were 266,518 dollars, exceeding
by a small balance the disbursements, which were
only 233,930 dollars. Here the distribution of lands
is spoken of as an act of absurdity.
Recent accounts from Madrid, stated the particu-
lars of a proposition which was presented to the Spa-
nish Government by an agent of several Spanish and
foreign houses, in which they ordered an advance of
1,560,0001. upon the produce of the mines of Almaden
during seven years, at the price of 65 dollars per quin-
tal of quicksilver.
A more extended proposition has since been made
to M. Calatrava by the same party, offering on cer-
tain terms to the Government to undertake the pay-
ment of five years' interest on the Three per Cent.
home and foreign stock almady in circulation, and
also that which may be created for the capitalisation
of arrears of coupons for 1841, 1842, and first divi-
dend of 1843, proposed to the Cortes.
These parties claim from the Spanish Government,
in payment for their advances, bills upon the revenues
of the colonies, payable from January, 1845, upwards;
an assignment upon the tobacco revenue of Spain from
January, 1844; and interest at 8 per cent. per annum
upon the amount of their advances.
As guarantee for this contract they require the
creation of 5,000,0001. Bonds of the Three per Cents.,
which will be deposited in the Bank. These Bonds
cannot be put in circulation, except in the event of
the said parties claiming them, during the years 1843
and 1844, at the price of 35 per cent. In such case,
out of the payment of the 1,750,000/. of their value,
750,000/. in cash to be invested in British Exchequer
Bills, to be deposited in London, especially applied to
the payment of five years' interest on the said
5,000,000/. created.
The contracting parties demand likewise of the Go-
vernment that a proposition, having these objects in
view, may be submitted to public auction, that the
Spanish nation may derive the benefit of competition ;
and they offer to guarantee the performance of this
contract on their part, if successful in such competi-
tion, to the satisfaction of the Government.
So much uncertainty has always attended opera-
tions of finance connected with the Spanish Govern-
ment, that it is not to be expected that any new one,
however plausible in appearance, will materially raise
the hopes of the creditors. The offer above described
is aproof only of the greater confidence entertained by
foreign capitalists in the present Government of
Spain, and until it has arrived at a much more ad-
vanced stage, it would be unsafe to draw any con-
clusions of a favourable nature from it.
SUN.—There was an almost utter absence ofbusiness
in the City this afternoon, those branches of trade ex-
cepted which contribute to the due observance of the
festivities of the Christmas holidays. Most of the
wholesale houses were closed, and enjoyment
seemed to be the order of the day. The appearance
of very many in the streets soliciting alms bore, how-
ever, ample and distressing evidence that the new
tariff has yet failed to effect that improvement in the
condition of the poorer classes which was so san-
guinely anticipated by the Premier and his colleagues,
when Sir Robert Peel brought forward his commer-
cial alterations, now not far short of ten months since.
The Public Securities bore all but nominal quota-
tions this afternoon. The Exchanges were, in fact,
almost entirely deserted, and shut entirely at two
o'clock. The last price of Consols for account was,
93k; ; of Exchequer Bills, 54 premium ; of India
Bonds, 47 premium ; of Spanish Actives, 18i ; of the
Three per Cents., 244; and of the Portuguese Five
per Cents., 40. Mexican was last done at 31,+, and
Colombian at 214.
The alteration in Shares this afternoon was too
trifling to require special notice.

Lieut.-Colonel Malcolm will leave England with
dispatches for China by the first steamer that takes
out the Indian mail in January.