The Sun.
London, England, 1842-09-07 00:00:00

premiums stipulated in those documents. It is for
this reason that his Excellency thought he ought not
to include them in the general rule established in
respect to the conversion of the overdue coupons, and
found himself under the necessity of calling the atten-
tion of the Cortes to the anterior engagements entered
into by the Spanish Government with the Treasury
bondh-oldera abroad."

This language is perfectly distinct and intelligible;
but it renders still more difficult to comprehend the
offer that has since been made by the finance agent
to convert the Treasury bonds, as mere coupons.
Not only is it clear that the Treasury bondholders
have a permanent claim, but it seems equally clear
that this claim is perfectly recognized by the Spanish
Government. Thus, on the one hand, we have an
admission by that Government that the Treasury
bondholders are superior to the rest of the claimants,
and on the other, an offer by the financial agent to
put thefir in "no worse position." As they have the
choice of two 'situations, there can be little doubt but
that the majority will avail themselves of it to remain
in their present position.
CHRONICLE. The French telegraphic dis-
patches are-..not unlike Peel's new sliding scale—it
is difficult to understand their working, on the ave-
rage, and they are very apt to mislead and leave in
the lurch those who run the risk of speculating in
regard to them. It is not the belief in the city, how-
' ever, that the late " decimation, simoom, and death,"
alluded to in the despatch from Marseilles, regarding
our troops at Jellalabad, were purposely set forth.to
facilitate gambling transactions in the funds; but if
they were so; it is quite clear that the parties con-
cerned made very little by their motion. If they
concocted an exaggerated statement to depress the
funds, they only succeeded to the extent of one-
eighth per cent., for Consols did not give way
more than a " turn of the market " on the
publication of the despatch, and we have not
heard that any sales of moment were effeei.ed
at the period in question by parties supposed
to he operating for a fall on any political
intelligence. Many are, therefore, inclined to hold
that the 'false• accounts regarding General Pollock's
force which were convey by the last telegraphic
despatch from Marseilles arose from a mere blunder
in the deciphering, although there may have been—
and probably is—a weak desire on the part of some
of the French authorities to pander to the anti.
English feeling (which is particularly vehement at
Marseilles), by making things appear worse than
they are, instead of better. They are evidently not
unwilling to take what may be termed "a poetical
license" with the accuracy of intelligence regard-
ing our power in the East, and hence they con-
verted the inaction of our troops into very bad news
from the Indus, and the halt at Jellalabad into
a complete decimation of our ferces. But, after
all, the news is not good, and such being the
fact, there may be occasions affording greater
room to find fault with the telegraphic announce-
ment, that the news " was bad from the Indus." But
we should be very much obliged to our French friends
if they would have the candour to state whence they
got all the rest of their information. It is a common
belief that all the French officials—Cabinet Ministers,
members of Government, and all others—dabble in
the funds ; and the statement may be true in some
degree, but we believe it is erroneous to make this
charge in such a sweeping form, and equally so to at-
tribute the late dramatic announcement of our disas-
ters west of the Indus to the financial speculations of
a functionary high in the confidence of M. Guizot.
We have had much reason to blame the paltry
conduct of the French Post-office authorities, in
their obstructions of the couriers belonging to the
English newspapers, and nothing could be more
shahby, or really " little," than raising up and
creating difficulties against their rapid progress, on
purpose to preserve priority for their own govern-
ment. We have no hesitation in stating our opinion
on that point, without reserve, but we shall not on
that account rashly charge the managers of the
French telegraphic department with having wilfully,
falsified the intelligence they received of the last over-
land arrival, either from a spirit of envy at our
eastern success, or from any views of turning such a
falsehood to pecuniary profit. We rather desire to
suspend our opinion and trust that a similar error may
not occur hereafter. _

The foll Owing are the official returns of the exports
of the precious metals from the port of London for the
week ending Thursday last : Ounces.
Silver coin to Calcutta 21,000
Silver bars to Madras and Calcutta 30,519
Gold coin to Launceston
_ .

SUN.—As was anticipated, a further advance in the
prices of our funds has taken place this afternoon. The
expansion of the currency necessary for the payment
of July dividends not having been absorbed by com-
merce, and the certainty that in less than four weelts
a similar amount wilkbe thrown on the market, con-
sequent on the payment of those due in October, will
still further increase the glut which has led to this
result. Much regret has been felt among respectable
dealers, that undue efforts. to depress prices should
continue to be made by certain parties, who form almost
a complete circle among the principal capitalists of Eu-
rope. By a peculiar method these were made to be a profit
to the parties when they had a large sum of capital,
surreptitiously obtained, wherewith to gamble in
foreign bonds. Such dealings, from the beginning,
were repudiated by legitimate jobbers, but now it is
thought that the integrity of the Stock Exchange is
greatly compromised by introducing these auxiliaries
to speculation in it. Consols left off at 93 931 for
Money, and 931 buyers for the Account; India Stock,
249 251 ; Exchequer Bills, Old, 51 53 ; New, 49 51
premium.
The prices of Foreign' Securities were—Belgian,
101/ 102 - ; Dutch Two-and-a-Half per Cents., 521
521; the Five Cents., 102 1021; Danish, 831 S4l;
and Brazilian, 66 67.
The quotation of Mexican rose to 36 361.
The prices of Shares were—London and Bir-
mingham, 184 186 ; Birmingham and Gloucester,
41 43 ; Great Western, 831 841 ; the Half Shares,
601 601; South Western, 59 60 ; North Midland, 56
58 ; the New Shares, 271 281; South Eastern
and Dover, 221 221 ; Eastern Counties, 81 9 ;
Northern and Eastern, 371 381 ; Blackwell, 71 71 ;
and Brighton, 331 33/.
The amount of business in the Foreign Exchanges
was small. The quotations were—Antwerp, 12 4/ ;
Amsterdiiii, 12 51, 12 6; Rotterdam, 12 6, 12 61 ;
Hamburgh, 13,111, 13 12 ; Frankfort, 1501 151 ;
Paris, 25f. 75c., 25f. 80c. • Vienna, 9 56, 957 ;
Lisbon, 30 20, 30 221; and ileArid, 361.
The quotations of the Bonds were—Peruvian,
15 16 ; Colombian, 201 21; Portuguese Five per
Cents., 351 351 ; the Three per Cents., 21 211 ;
Spanish Five per Cents. 161 164; the Three per
Cents., 211 211.
The publication of a clause in the new Bankrupt
Act, which will shortly come into operation, has
caused some uneasiness among the dealers in these
documents. This Act will reach most of the parties
usually engaged in time bargains ; and the clause
particularly alluded to provides, that all certificates
shall be void if the bankrupt, "in any gaming,
or wagering 201., or within one year next
preceding his bankruptcy has lost 2001. by any con-
tract for the purchase or sale of any Government or
other Stock, where such contract was not performed
within one week after the contract, or where the
Stock bought or sold was not actually transferred or
delivered in pursuance.of such contract. A more com-
plete death blow to time bargains can scarcely be
conceived.
COURSE OF EXCHANGE—(YESTERDAY.
Amsterdam CF.I2 9 Gibraltar ...
Ditto, at sight
Rotterdam .. . ....2 U l2 9i Genoa :16
Antwerp l2 8 Milan ... 31
Hamburgh M.B. 13 15 Venice 47
Alton&
Paris, 3 days' sight ... 25 65 l'aierrno, per oz .......... 120
Lisbon
Ditto, 3 months 25 50
Marseilles
Bourdeaux
25 9,5 Rio Janeiro ............... 23i
Frankfort on Maine... 1511 Bahia ..................... 24
Petersburgh, 3Us ... 3611 reewr;7oAr Ares ............
Berlin... ........
Vienna, effec. 0.3 AL b 9 'Philadelphia 4ti
Trieste, ditt0........... 10 raicss or• suwow, raft oz.
Madrid .............. 36i Foreign Gold, bars 43 17 p
Cadiz ..................... 364 Portugal Gold Coin ..3 17 5
Bilbao ................. 36 New Doubloons •0 0 0
Barcelona .36 New Dollars 04 10
•36 , Silver in Bars... O4 l 1

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