The Sun.
London, England, 1842-03-16 00:00:00

THE SUN, LONDON, WEDNESDAY MORNING, MARCH 161 1842.

tinction between income arising from capital of every descrip-
tion and income arising from labour, merely by levying a
smaller proportion of the latter income than the former.
ti. That with the sam3 view it is expedient to make a dis-
tinction between income possessed by persons who have only an
interest in the same for their•lsves, or for some .esser term, and
income possessed by persons who have an interest in the capital
whence the income arises, levying a larger proportion of the
latter income than of the former.
7. That with the same view it is expedient to make no dis-
tinction in. favour of persons in the civil service of the State, or
of persons receiving pensions from the State.
The justice and sound policy of these resolutions will
not be disputed by any one pretending to make justice
the basis of popular taxation. No Minister but a Tory

could dream of taxing the wages of labour, whether of
the head or hand, at as high a rate as income derived
from rent, dividends, bank-stock, railway shares, and
other descriptions of real property. All real property
exists and its security is guaranteed by the Govern-
ment, but labour, till it becomes real property, cannot be
said to have any existence, and therefore its protection
costs the country nothing. Besides, the wages of labour
is the life of the labourer. It is the bread without which
himself and his family would starve, and all that exceeds
his weekly consumption is but a crust, which he is en-
titled to hoard against the accidents of ill-health, do-
mestic calamity, and helpless old age. To tax wages
equally with real property, is to tax genius, talent, so-
briety, industry, and enterprise equally -vith luxury,
opulence, extravagance, and vice. The next resolution
is as follows :

8. That it is neither consistent with justice nor with sound

policy to levy a greater proportion of tax upon larger Incomes
than upon smaller incomes ; and that an exemption of even
the smallest income from the operation of the tax can only
be justified on the supposition that the owners are wholly un-
able to pay it.

We are decidedly opposed to the whole of this reso-
lution, and, we confess, we are altogether at a loss to
consider how a statesman of Lord BROUGHAM'S com-
manding intellect could think of recommending it to the
adoption of Parliament. Does the Noble Lord suppose
that an income tax of three per cent. would not fall
heavier upon a man with two hundred per annum than
the same rate of tax would upon a Peer of the realm,
having 50,000/. a year ? The tax curtails the poor
man's dinner, and perhaps renders him unable to give
education 'to his children ; but from the wealthy Peer or
rich commoner it only takes,.at the utmost, the means
of indulging in some useless and pernicious extravagance.
The Peer may keep a bunter or two less, and when
not in town, may contrive to dispense with a box at the
Opera, or the membership of an expensive club, but will
Lord BROUGHAM weigh these aristocratic inconveni-
ences against those of a family emerging above absolute
want, where a pound in the year to devote to the educa-
tion of a son or a daughter, or two or three of both, is of
the last importance -? And has the Noble Lord consi-

dered what such families would endure rather than claim
an exemption from taxes on the plea of poverty ? Surely
he is no stranger to the delicate pride of genteel indi-
gence—a pride which none who respect the virtue of the
industrious middle classes but ought to treat as tender as
the apple of the eye. In that pride—that respectable
economic saving of appearances, we have the salt which
sweetens and preserves all that is most estimable in our
national character.

An income tax appears to us as unjust without a
sliding scale, as a Corn-bill with one. If we must have
such a tax we would recommend it to begin with one
per cent. on small incomes, and gradually ascend to
seven per cent. upon fixed property. Among the ob-
jections universally taken to Sir ROBERT PEEL'S scheme
is the hardship and injustice of taxing an income of
1501. and allowing one of 149/. to escape. The remedy
for this inj)stice is obvious. Parliament has only to in-
sist that only the excess of income over and above 150/.
shall be subject to taxation, and so on throughout the
scale. Thus, say a man has 300/. a year, tax him for the
surplus 150/. If he have 600/., tax him for 4501.
and no more. Again, in taxing property of
a great amount, suppose five per cent. be
the rate upon 10,000/. a year, and seven per cent.
upon 20,000/. Of the latter let only one-half be liable
to the high rate of taxation. This principle is an
equitable one, and in its operation presents not the
slightest difficulty. By means of a properly-constructed
set of tables the most ignorant collector could make his
returns without the occurrence of a mistake once in
seven years.

We trust our readers will now be satisfied that where
we differ from the Noble and Learned Lord, it is not

upon slight or casual grounds. Of the 'whole question
of the income tax, we have only to say, in conclusion,
that we feel certain that the country will not long tole-
rate it under any circumstances whatever. It is but th•
prelude to a permanent tax.

Many of the rules laid down by the " Collective

Wisdom" for the regulation of their proceedings, are
regarded by those not initiated in the mystery of law-
making, as extremely absurd, and are retained, as far as
men of common sense can discover, solely because our
great grandfathers, in times of ignorance, thought them
expedient. The " wisdom of our ancestors," in fact,
sanctifies every practice. The rule respecting the right
of petition, announced by the SPEAKER last night, no
doubt, was considered absolutely necessary, in days of
old, to stop the mouths of those who disliked new taxes;
and though the most unjust and preposterous in
a country governed on Constitutional principles, it is
retained, in order that our lawgivers may not be annoyed
in their deliberations by the remonstrances and petitions
of the people. In answer to a question from the lion.
Member for Liskeard last night, Mr. SPEAKER said it
was against the rules of the House to receive petitions
against any tax which had come. under the consideration
of the House ; and it would therefor' be impossible to
receive any petition against the tax in question (the In-
come Tax.) So that while the country is crying out
against this inquisitorial impost, and men of small in-
come, and all persons in trade regard it with absolute
horror, they are to be gagged, not by law, but by
a resolution of the House of Commons. They are to
sit down quietly, and suffer unmolested their representa-
tives, falsely so called, to pass a law which they repro-
bate
and detest--2a law, compared with which, the
famous Assessment act of the French Finance Minister,
that raised all but a general rebellion, is merciful
and just. Passing over the absurdity of such a re-
gulation, we look only at the unfair advantage it takes of
the public. The resolution of Sir ROBERT PEEL
was anounced only last Friday ; the secret Was
so well kept that not one in fifty of the clerks in public
offices had even a suspicion of the new tax, and it took
the people throughout the country absolutely by sur-
prise, so that no time whatever has been given for them
to approve or disapprove of the scheme. An ukase of
the Emperor of RUSSIA is not a more despotic act than a
resolution of the Prime Minister, against which the
people have no appeal. The voice of the country,

however, is not to-be stifled in this way. They will
set the rules of the House at defiance—•they will
assemble and petition and whether they forward

their remonstrances to their representatives or
not, the effect will be quite the same. The
form of laying a petition on the table, or thrusting
it under the table, is of no intrinsic value. The
expression of public opinion is everything, and the
Government will be made to hear it from the meetings
throughout the country more effectually than from ten
thousand petitions. Let the people stand to their rights,
and put an end at once to the practice of rejecting their
advice when it is most wanted.

Our disasters in Affghanistan are " cakes and ale" to
our French contemporaries. 'We could place no repast
before them which they would have devoured with half
the delight with which they gloat over every fragment
of the tragical intelligence from Cabool, brought by the
last Overland Mail. The National derives exceeding
comfort from the assurance that the massacre of six
thousand British troops in Cabool was but the
prelude to similar massacres of our troops at Can-
dahar and Khelat ; and what is still more gratifying to
that Journal, to the total destruction of our power in
India. To show what friendly neighbours we have in
the French Republican Press, we quote an extract from
the editorial columns of the National :

" It is impossible for us, as Frenchmen, to see with sorrow
the power of England sustain so serious a check. Neverthe-
less, we cannot suppress a feeling of deep compassion when
we think of so many brave soldiers being sacrificed, so far
from their country, through the fault of the most ambitious
and greedy aristocracy in the world. The British Govern-
ment had expected to open new markets for its wealthy mer-
chants in the extensive regions of Central Asia. The Eng-
lish had presented themselves there as conquerors, with a de-
termination to change the manners, the laws, and the habits
of the people. They brought with them missionaries and
despots, who gave no quarter to prisoners. But the natives
of Cailool in no wise resemble those of the Indian peninsula,
who su'e sueh docile slaves. They have risen with sa-
vage energy against usurpers and destroyed them. This
is but a just chastisement inflizted on British ambition. We
must only vity the fate of the unhappy victims, whose
blood has exp:ated the faults of their masters. England sinks
under the weig.ht of a disaster which deprives her of so many
brave regiments, and occasions the less of hundreds of millions
employed in upho:ding the power of an imbecile despot. The
energy, which she always evinced under similar circumstances
appears now to fail her. Ar 3 we to trace in this stale of
public feeling the beg lining of the decline of English power ?
Should this prognostic Ile correct the world would soon forget
the sorrow felt at the death of Sir W. Al‘Naghten and his
companions, for the humiliation and overthrow of British
oligarchy, would be productive for mankind of the greatest
bleseings. "
The Siecle participates in all that indifference to sor-
row which the National asserts Frenchmen must feel at
the direst reverses of England. According to that
journal, England is properly punished by the
atsocious indignity offered to the head of Sir
W. VNAGHTEN for the part which she took in ex-
citing the ferocity of the Spaniards against the
Fretich in the Peninsular. war ! In our simplicity
we lbad previously thought that the natural ferocity of

the Spanish soldiery was checked, and a civilised
character given to the war by Great Britain. But, ex-
cept for the animus of the remark, we may pass very
lightly over the charge of being ferocious by deputy.
Frenchmen cannot deny that our soldiers are brave, and
the truly brave are never cruel. What most concerns
-our readers is the opinions expressed by the Siede of
our reported reverses in Affghanistan. That JOurnal
says :

" Every conqueror who retreats is lost. Pcrhsps it was
possible not to have crossed the Indus; but now it would be
di,astrous to recross it. The British Cabinet is in the most
d fficult position. Lady M'Naghten and fitteen other English
ladies are in the hands of the Affghans, who demand to ex-
Change them against Dost Mahomed. If the English accept
the exchange, they dethrone Shah Soojah with their own hands.
If they refuse, the Affghans are capable of killing their yri-
soners. Reprisals must be used against Dost Mahomed, or if
he be spared the English will pass for cowards in the eyes of the
people of Cabool, who have raised a temp:e to the goddess of
revenge.
' " England is rich and energetic; she may re-establish her
dominion in India for some time longer, hut the term of the
India Britannic empire is marked; it will conclude before the
quarter of a centur3."
The difficulties of our position are very great, but we
can assure the Siecle and the National, and the French
Press generally, that our empire in India is quite safe
notwithstanding. A great statesman formerly described

our empire in India as an empire of opinion. It was so
then, but now it has a less fluctuating basis. It is an
empire of fact, of force, and of power, as well as or
opinion. One reverse can as little drive us out of India,
as it could out of our own island home.

The Journal des Debuts, which rated us so sharply for
the supposed enormity of fomenting an ill feeling be-
tween the two countries, has an article intended to show
that we are no better than a nation of brigands, who
fight, not for honour, but for plunder. Not content with
Cabool, the Debuts goes to China, where it contends
that we have established a system of razzias, or plun-
dering expeditions, merely to fill our coffers.. With a mo-
desty that would become a bride on the morning of her
nuptials, the Debuts does not so much as hint that we
must have borrowed the idea of razzias from the ex-
ploits of France herself in Africa. It is for us, how-
ever, to do justice to the military genius of France.
Hers was the glory of this mighty discovery in the
art of war ; and before it could be adopted by an
EradoT or a POTTINGER, the Moniteur had made
Europe familiar with the perfection with which, " at
the witching hour of night," it was carried on in many
alit Arab village by the heroes commanded by a CLAu-
SEL and a ffUGEAUD. We have not forgotten those bul-
letins from Algiers, describing midnight razzias, in
which not an Arab escaped the swords, and not an
Arab's goat or sheep the stomachs, of the French. Hay.
ing done this justice to the genius of France, we quote
the remarks of the Debuts, which affects such a desire
for the maintenance of the most friendly relations with

England
When Captain Elliot haring exhausted his resources, and
finding the period of his command about to expire, adopted the
idea of demanding some millions of dollars from the mandarins
of Canton, as a compensation for all the losses which the British
merchants experienced, a universal cry of reprobation was
raised by every English Journal from Macao to London. No
term could be found sufficiently strong to stigmatise thesharae-
ful conduct of the superintendent; they even went so far as to
say, that England was disgraced for ever. Now, however,
opinions are changed, and no one condemns this system of
iansom or razzias, which have the same meaning, and which
the English generals appear to have undertaken to apply
throughout China. A proclamation signed by Sir H. Pottinger
and B dmiral Parker commands the officers of the British navy
to search all the Chinese vessels they may meet, to burn those
of no value, and to bring the others into the ports occupied by
English garrisons to be sold, and the prodnce divided amongst
the troops composing the expedition.
" The execution of this new plan of campaign has been al-
ready commenced, and it appears that the expeditions against
Chinghai, Ningpo, &c., were undertaken solely with this
object."

With the help of these extracts, and the mention of a
furious article in the Presse, against any further coun-
tenance whatever of the anti-slavery policy of England,
our readers can be at no loss to perceive that what with
Lord ABERDEEN'S blunders, and what with an inherent
jealousy of us, we have no sympathy in our distresses to
expect from France.
Wahh, Director of the Journal La Mode, has been con-
demned to three months' imprisonment, and a fine of 3,000
francs; and M. Varlet de St. Philibert, the editor, to two
months' imprisonment, and a fine of 2,000 francs, and both
jointly in the costs.
The hurricane in the night of the 10th did great damage in
the environs of Valenciennes, Lille, and Calais.
A letter from Granville says—" A dreadfful tempest, the
most terrible within the memory of man, has caused the greatest
disasters to our fishing vessels, which were just ready to put to
sea, having their passangets, their crews, and provisions on
board; twenty or twenty-five of them having had their cables
and chains broken by the violence of th• wind, ran
foul of others that were in the road, and forced them to
the shore. Five of these shim thus thrown on the rocks
are entirely gone to pieces and lost, with their cargoes. Five
others are aground on the oyster beds. Some others have
been saved by the efforts and intrepidity of their crews,
and have returned into port, but with considerable damage.
" The loss of our merchants is estimated at above 300,000 francs,
and this sum will be doubled if the storm should return with
the tide this evening, as is feared. The old port has suffered
much. A great number of salors are wounded, and many
have perished. Three dead bodies have been picked up; but
a great number of sailors are missing, for whom lively appre-
hensions are entertained. Nearly 3,000 persons are now
employed for three quarters cf a league along the coast, In
saving the goods and picking up the wounded and the drowned.
It is a horrible sight."— Con stitutionnel.

BELCH AN r. UNDS-13atmsaLs. MAitcsi 12
'Lethal Debt, 2),,', per Cent.
Rothschild's 'Amu, 5 per Cent .' . .. .......
Loan of Thirty Millions, 4 per Cent. :3%
3per Cent.

--Thirty.seven--- .. -S%
—(l94ff) 103%
Loan of City, 1'.32,4 per Cent. WS
Socict3 of Color:met:, 4 %per Cent B2
Hank of Belgium, 5 per Cent.... .........
National Society. —
Exchange on London (shot t) —
Brussels Papers, March 12.
AUSTRIAN FUN DS.—Vicxsa, Mancn 5..
rive per Cents. Metalliques
Four per Cents.
Three per Cents.
Hank Shares .. ...... IMO

His Holiness the Pox has published another Allocu-
tion setting forth the deplorable state of the Spanish
Church, and invoking the public prayers of the faithful
on behalf of that benighted nation. The sins of Spain
consist in a determination to appropriate to the use of
the State those •immense Church possessions which
served to feed in ignorance, in laziness, and in filth, to
the scandal of honest men and good Catholics, broods of
useless monks and nuns, of whose overflowing wealth
a continual stream was poured into the coffers of the
Holy See. GOD tests the piety of a nation by its heart,
but the Priest Judges by the pocket. The deporable
spiritual blindness of Spain lamented by the Holy
Father, consists in an obstinate shutting of her eyes to
the comeliness of a money-gorged Priesthood. But even
Priests are slow to derive wisdom from experience.
The result of the late Papal Allocution, which
actually consolidated the then tottering power
of EgPARTERO, ought to have taught GREGORY
XVI. the fully of promulgating a second. Yet
this has not been the case. The second Papal Allocu-
tion is. if possible, more offensive to the Spanish Govern-
ment than the first, and will, of course, provoke a corre-
sponding spirit of hostility. We have only room for the
following extract from it:—

It is already well known in what state the affairs of religion
are in Spain, and with what bitterness of soul we have been
forced, for several years past, to lament the ecclesiastical vicis-
situdes of that nation, whereof the people, far from abandoning
the holy precepts of their fathers, are strongly attached
to the Orthogox Faith, whilst the clergy, for the greater
part, courageously fight the battles of the Lord ; and whilst,
als ~ almost all the prelates endeavour with their whole
strength, to secure the safety of their own flocks, although
those prelates are most miserably harassed, are in exile, and
labouring under most pressing ahlictions. Nevertheless, there
are in that country a number of abandoned men who, crimi-
nally leagued with each other, and, 'the the waves of a boister-
ous ocean, venting forth their disordered thoughts, wage a most
cruel war against Christ and his Saints. Having brought the
greatest losses on the Catholic religion, they now attempt, in
their impiety, to subvert it, could that but be effected.
We, in the accomplishment of the duties of our ministry,
raising our Apostolic voice, have not ceased mourning publicly
the wounds inflicted on the church by the Government of Ma-
drid, and denouncing as null and void all those ordinances of
the civil power which have been directed against the rights and
laws of this church. We have, moreover, with every demon-
stration of grief, vehemently lamented the atrocious injuri,s
and evils which have been inflicted on our venerable brethren,
the Bishops of that kingdom, and on the sacred persons of the
clergy of both orders; and we have seen, with sorrow, abonti-
tion set up in the holy place, and ecclesiastical property sa-
crilegiously robbed, sold, and turned over to the public treasury.
At the same time, we did not omit to recal to memory the
penalties and censures which the Apostolical constitutions and
the Ecumenical councils pronounce, ipso facto against those
who dare to commit such crimes.

The blasphemy of describing the appropriation of the
monastical property of Spain by the Spanish Govern-
ment for national purposes, as a " war waged against
CHRIST and his Saints" must shock every well-consti-
tuted mind. In Spain, where the priesthood have
Proved such a curse, it can only excite an universal feel-
ing of horror and disgust.

The journals of Madrid and Barcelona are of the
Gth inst., and those of Valencia of the 2d inst. Infor-
mation having been received that a dozen men, whose
intentions were suspected, had just landed near Tarifa,
and had gone in the direction of La Serrama de Ronda,
a chain of mountains, orders have been given to the
Cortez frigate to cruise between Tarifa and Tanjen, and
to watch any movements that may occur on that part
of the coast _

General VAN HALEN, who was at Madrid, on leave
of absence, set out on the preceding day to return to his
post.* He has precise orders relative to the projects
of the emigrants at Catalonia. There is nothing new
from Catalonia, where FELOP and EL MuerzAcno only
infest with their bands the provinces of Gerona and
Lends.
Tranquillity is restored at Valencia.

THE SPITALFIELDS WEAVERS' BALL.--.We Un-
derstand her Majesty has been pleased to appoint Thursday,
the 26th of May, for the grand fancy dress ball in aid of the
silk trade, which was deferred last year until this season. The
ball will take place at her Majesty's Theatre, as was originally
arranged, under the highest patronage. Her Majesty, as
might be supposed, evinces the warmest interest in the forth-
coming ball for the benefit of a branch of our home trade which
has, for some years past, been in a most depressed state,

MONEY and COMMERCIAL NEWS.
CITY, TUESDAY EVENING.
A narked and CecideJ improvement took place just at the
close of business, in the value of all description of securities.
The at undan,e of unemployed capital, and the certainty that
no new loan will be contracted, has caused public attention to be
drawn to our Stocks in particular. Consols advanced to 89g
for Money, and tin 90 for the account. Exchequer Bills 30s.
to 325. prem.
'1 he present account in the Foreign market having proved to
be a Bear one, the opposite party have taken advantage of the
settlement by creating a scarcity of stock . consequently quota-
tions are all higher. Danish, 811 81 ; Dutch Two-and-a-Half
per Cents., 52k 52,4 ; the Five per Cents., 102,4 ; Brazi-
lian, 68 60 ; Portuguese Five per Cents., 35 to 34; the Three
per Cents., 20k to 21 ; Colombian, 27 to 271; Mexican, 41*
414 ; Spanish, 25 to 25k.
Railway Shares are generally higher. Birmingham 85 87 ;
Great Western 26 27 prem.; Birmingham and Gloucester 56
to 58 ; South Western, 59 to 60 ; Brighton, 35g to 351 per
share.

The Foreign Exchanges were rather firmer, Amsterdam
being 12 4i to 12 ; Antwerp, 12 44, ; Hamburgh, 13 12 to
12 ; Paris, 25f. 77ic. to 824 e.
The following are the official returns of the exports of
Bullion from the Port of London for the week ending Thurs-
ay last :
Silver Coin to Hamburgh
Ditto ditto, Rotterdam
Ditto Bars, ditto ...
Ditto ditto, Hamburgh
(From The Sun of Last Night.)

MANCHESTER. STOCK EXCHANGE, 11IAUC13 14.—The
Market is very firm, with a fair demand for Railway Stock.—
Manchester and Birmingham, 28i ; Manchester and Leeds,
Half Shares, 341 ; North Midland, Halves, 35 to 36 ; Man-
chester and Liverpool District Bank, 10i.
In looking carefully over the new duties, the benefit to be
conferred upon the working classes generally by the reduction
-in the rates on provisions becomes more apparent. It is much
to be regretted that some alteration has not been made in the
duty on sugar ; but the state of the revenue, say the advocates
for a high duty, must be borne in mind, and the probability
that during the present year the price will be greatly lowered,
owing to the increased importation both from the East and
West Indies. In 1837, the quantity received from Calcutta
was 296,679 cwt., and in 1841 it was 1,139,249 cwt., with
every prospect of a gradual improvement as the works become
more extended, which is being done every successive year;
so that it may be expecied that. but a short time will
elapse when the price of our own Colonial sugar in bond will
not be above that of foreign. It has been calculated that,
when the new scale comes into operation, the price of meat
will be, permanently reduced at least twopence per pound,
which will be an immense difference to the consumption of the
community, since it is to apply to salted as well as to fresh,
and the rapidity of steam communication being such as to allow
the importation of the latter in good condition, under tolerably
favourable weather. The duties upon vegetables are also re-
duced to a more nominal rate, namely, twopence per hundred
weight upon potatoes, and five per cent. upon the value of most
of the other descriptions. Great anxiety is expressed, that no
time should be lost in bringing these beneficial changes into play.
The income. tax still continues to be rather unpalatable, but
the principle of paying a direct, instead of an indirect amount,
is admitted to be correct, although the commencement of the
amount is objected to, as well as the absence of a graduated
scale, which it is considered would yield a greater sum to the
Exchequer, as well as relieve a large portion of those who will
be materiidsuff,rers by the present plan.
There are no foreign arrivals beyond the remainder of the
ndia mail, via Falmouth.

The firmness with which the British Funds left off last even-
ing has been well maintained to-day, and although the number
and the amount of the transactions have been but trifling, yet
the Market appears good. Consols are 8911 to 15934 for Money,
and 89/1 to 894 for the Account; New Three-and-a-half per
Cents., 99 to 99k; Exchequer Bills, 29 to 31 ; and India
Bonds, 8 to 10 prem.
In the Foreign Market the operators are principally engaged
in making up their accounts, this being the half-monthly set-
tling day. The settlement has gone off easily, the bargains
since the last art angement having been but small, although
the differences in Aloxican a.e four, and in Colum-
bian two per cent. Dealers have created a scarcity of
stock for the occasion, and quotations are consequently
higher. Mexican from 394 has advanced to 4011 40i for
Money, and 40k 4011 for the Account. Columbian 26i for
Money, and 26k for the Account. Portuguese, 34k 344 for
Money and the Account; the Three per Cents., 20i; Buenos
Ayres, 21k ; and Spanish is stationary at 244 24k.
In the 'hare Market scarcely anything has been done, but
the market is firm. 'Tie only transactions have been Great
Western Fifths at 104; Manchester and Birmingham, -284;
New North Midland, 35 ; Brighton, 352- 3.5 a ; and Green-
wich, 6k.

Money is easy in the English Stock Exchange at 3 per cent.,
and varies on the Foreign from 5 to 7 per cent. according to the
nature of the security.
Private letters from Manchester state that no improvement
has taken place in trade there. Yarns are again lower in
price, and it is much feared that they have not seen their
worst. For calicoes, &c., there has been more demand,
hut still no profit is left to the mar.ufacturer. From the
recent accounts from America, great expectations are raised
that when the spring trade there becomes fully opened, that
business in our manufacturing districts will revive in conse-
quence of orders from that country. The intelligence from
India and South America preclude any hope from those quar-
ters, in consequence of the acc,,mulated unsold Stocks, which
are chiefly held on msnufacturtr's account.
CLOSING PRICES
BRITISH FUNDS. .
Bank Stock — 'lndia Stock .............
3 per Cent Red _ Ditto Bonds ........ ....... Bpm
3 per Cent Cons B9; Ditto Old Annuities ...
3% per Cent Red , _ 'Ditto New Annuities...
New 3% per Cent
New 5 per Cent.
Long Annuities ;.oexpire I Ditto Small 3l pm
Jan. 1860 ... Bank Stock for 0pg....170%
Oct 1859... ..„. __. 'lndia Stock for Acct....
Jan. 1860.
FOREIGN FUNDS. .
Austrian, 5 pa:. cent.— 1111 ;Portuguese, 5 per cent. 62
Belgian, 5 pet rent !Ditto, New Ditto 35%
Brazilian 80nd5.... — :Prussian, 5 per cent.
Buenos Ayres 6 per eel: t 21} Russian, 5 per cent ll3
Chilian, 6 per cent...., (Ditto, Metallic ...... .
Colornbian, 6 pen cent.. Spanish, 5 per cent 25
Ditto, 1824.. ....... ..... 27% Ditto, Deferred.... . I 2rl
Danish, 3 per cent — /French, 5 per cent. —.. —c.
Greek, 182.5,5 per cent — Exchange f ...c.
Mexican, 5 per rent.... 41a 'French, 3 per cent Bl . —e
Ditto, 6 per cenl. 1837 Dutch, 2% per cent. , 52%
Peruvian,lB2s, fi per ct. 171 Ditto, 5 per cent. . —
SHARES.
Great Western Railway 65 paid) 92
• Ditto New Shares (50 paid)
Ditto Fifth (4 paid)
Gosport Junction Railway (50 pd)
London and Brighton (50 paid) :J5i
London and Blackwell Railway (15 paid)... 11%
London and Greenwich Railway (2.) pd) 6%
London and South Western . 59
London and Croydon Railway (Trunk) l2g
Manchester and Birmingham (40 paid) .. 28'1
North Midland Railway 000)
Ditto New Shares (40 paid) 35
COURSE OF EXCHANGE--k YESTERDAY. )
Amsterdam CF. 12 7%lGibraltar .. .. 47
Ditto, at sight
Rotterdam ...... ...2 U l2 8 Genoa
Antwerp l2 7% Milan
Hamburgh M.B. 13 15 Venice 47
Altona
Paris, 3 days' sight ... 25 70 Palermo, per oz 120
Ditto, 3 months 25 95 Lisbon
Marseilles
Bourdeaux 26 0 Rio Janeiro 27
Frankfort on Maine... 1514 Bahia
L'etersburgh, 3Us ... 37 Buenos Ayres —
8er1in........ 7 New York, 21days sight 46%

Vienna, effee. 11. 3M. 9.54
Trieste, ditto 9 55
Madrid ...

Cadiz 36*
Bilbao

Harcelona

Seville