The Sun.
London, England, 1845-11-18 00:00:00

ADMINISTRATION.

From the intimations given forth in the organ of the President
at Washington, and also in the newspapers throughout the great
cities, there seems to be little doubt now that the President is de-
termined to stand by the position he assumed on the Oregon ques-
tion in his inaugural address, and that he will consider the title
of the United States to the whole territory as unequivocal and un-
questionable. This impression of the intention of the President,
as to his future course of action, is strengthened from the rumour
that he has rtjected a proposition that was made to him, and made
a second time, by the present British Minister at Washington. It
will be recollected that Mr. Calhoun, during the time which he
occupied as Secretary of State, rejected all overtures relative to an
arbitration, or a mediation of the question covering the rights
of the United States to the Oregon territory. The corre-
pondence which passed between Mr. Calhoun and Mr. Pakenham,
at that time, is now in the possession of the Government at Wash-
ington, and will, most probably, be communicated to the next
Congress, as part of the documents accompanying the President's
Message. We have received positive information of the character
of that correspondence, and that it takes the highest and most in-
dependent ground on the Oregon question—a graund which now
appears to have been adopted, in every feature, by Mr. Polk, while
the same rumours indicate that Mr. Buchanan, the present Se-
cretary of State, was in favour o f a more conciliatory and less
independent course. This Oregon question, shaped and
formed as it is now believed to be by the present Ad-
ministration, will probably form one of the most important sub-
jects of discussion at the next session of Congress, and will
create a great deal of controversy both in this country and i■
Europe. If the President assume the highest and most inde-
pendent ground, declaring the rights of the United States over the
whole territory to be unquestionable, we have not a doubt that the
western and southern, and a large portion of the other
States, will pass resolutions terminating the joint occupation
by giving a year's notice, and proceed to organise that into a
regular territory. A position of this character would unques-
tionably produce a great deal of excitement in the British
Government and amongst the British people, but we do
not apprehend that any serious difficulty could grow out
of it affecting the present relations of the two countries. England,
ever since the States repudiated, has been venting her spleen in a
variety of ways through her newspapers and her journals, and fre-
quently in the Houses of Parliament. But we possess a power
over the Government and people of that country, which is a sort of
bond and mortgage on their peaceable behaviour—we mean the
cotton market—the monopoly of the cotton market—which is now
made still more certain than ever by the annexation and possession
of Texas. The passage of a law, organising the whole of the terri-
tory of the Oregon into an appinage of the United States,
might create a great effervescence in England and appear to stimu-
late them to hostile measures; but such a result will never take
place in the present commercial relations of the two countries.
Yet there will be a flare.up and a great deal of noise, and vast
floods of invective, and fulmination of all manner of anathema of
the British press, with a double dose of the same materials and the
same charges which have characterised the attacks upon us during
the last five years. But we need not care for all that while we
are going on prospering and to prosper. In the meantime, we may
prepare for a great excitement in Congress and throughout the
country, growing out of the position of the President on this im-
portant question.

The (1 it•agreement in the Cabinet on the subject of the
tariff and other important matters was still current. On
this subject we find the following in one of the papers be-
fore us:—

THE EXPECTED CABINET ExrLostoN.—There seems to be a
general expectation in the public mind, judging from the newspaper
press, that the present Cabinet of Mr. Polk cannot long remain
without an explosion and recomposition of some kind. It is very
true that the organ of the President at Washington affects to be
very positive and very certain that ne President and Cabinet ever
lived together in such harmony as the present. But the very
violnet denunciations which proceed from the organ relative to the
rumours of disunion and explosion rather tend to produce a convic-
tion contrary to that anticipated and desired. Every rational
mind is, Indeed, persuaded that there exists some irreconcile-
able differences of opinion between the President and the members
of his Cabinet. It is now generally believed that there is a differ-
ence between the President and a portion of his Cabinet, not only
on the tariff, but also en the Oregon question, and that those who
differ from kim'are Mr. Buchannan, Mr. Marcy, and Mr. Bancroft,
the others siding with him. It is very evident, from the move-
ments of a certain portion of the democratic party in Pennsylvania,
in relation to the tariff, that Mr. Bitchannan's friends, if they are
guided by his opinions, are very hostile to the present position of
tha Administration. Notwithstanding all that the Iffashinton
Union may say to the contrary, we are prepared to see a recon-
struction of the Cabinet before six months have elapsed. Will the
organ positively declare that such a thing will not take place ?
CorroN TRADE.—There has been very little change in this
market since the departure of the steamer on the 16th inst.
Prices have declined a fraction in consequence of the unfavourable
accounts from Europe by the last arrivals, but the stock in market
is so very limited that the transactions have been without much
change, having for the past mouth been only to a very moderate
extent.

A suse.—A few sales of pots were made at 3 dolls. 81 ; pearls,
4 dolls. 12k. _

Corrox:—The market was ♦ery quiet to day, and the sales re.
ported do not amount to 500 bales. Prices exhibit no change.
FLoue.—Not much doing to day in the market. Prices were at
our last quotations—Genesee and Michigan at 6 dolls. 50.

There is some talk about sending a minister to Mexico to
demand payment of the delinquent instalments of the in-
demuitv.

MONEY AND COMMERCIAL.

SALES AT THE NEW YORK STOCK EXCHANGE, OCT. 27.
1,300 dolls. N Y 7s, 1869 ..... ..... 105
20,000 Ohio 6s, 1856 ........ ..... ... 964
5,000 Penn 5s
4,100 Ohio, 1860
1,600 Ohio 6s, 1860
2,000 Ky 6s ... lOll2
2,000 Read'g Bds, 'SO
50 Merelt Ex Bk
100 Morris Canal
50 US Bk ... 514
24 City llk N 0 67
20 Mer and Tr Bk N 0
50 Canton
50 Harlem blo 65
200 Nor and Wor b6O 76
50 Erie Rd .. 341/2
a
50 Wilmington Rd Co ... 351/2
100 L Island .....
100 Reading Rd
50 Stonington . s6O 34
250 East Boston Co. ...
SECOND BOARD.
40,000 State 7s, '49
40 Canton
50 Far Loan b3O 33• X
150 Nor and Wor b2 77%
50 Stonington blo 351,44'
150 Morris . .... s6o 243/4

THE EARL OF GRANVILLE.—We learn from the
accounts received in town, last evening, from Roehampton,
that the Noble Earl continues in much the same state of
health.

MUNIFICENT DONATION.—The Hon. Colonel G.
F. Upton yesterday forwarded one hundred guineas in aid of
the funds of the Hospital for Consumption and Diseases of
the Chest, at Chelsea.

NEW CHURCH AT BIRCH, LANCASIIIRE.—St.
James's Church, at Birch, is a very elegant structure in the
early English style, and is in every respect a striking in-
stance of the present tendency in church building. The esti-
mated cost is 3,5001., but this is exclusive of the spire. It
will accommodate 700 persons, 400 of the sittings being flee.
The design is by Mr. Derick, of Oxford. The plan consists
of a nave and aisles, with the tower at the south-west angle,
a chancel, a chamber for the organ in the position of a north
aisle to the chancel, and a sacristy, north of the chancel. At
the west end will be a large double window, surmounted by a
quatrefoil, and in the aisles will be double windows. At the
east end will be a triplet, and a rose window. The cleres-
tory will have windows and arcades. The proportior.s of the
parts, throughout the whole church, are excellent, especially
in the piers and arches. The roof is an open timber one, of
very good design. All the arrangements of an old Gothic
church will be here reproduced; and there will be sedilia,
credence-table, and piscina (?) When quite completed,
there will he a considerable amount of decoration; and it
seems a judicious proceeding to provide for future decoration,
by leaving blocks of stone, which may he carved into bosses,
Rd corbels, as opportunity may arise.—The Builder.