The Sun.
London, England, 1842-05-13 00:00:00

MONEY and COMMERCIAL NEWS
CITY, THURSDAY EVENING.

The Money Market has been buoyant the whole day,
owing to some extensive purchases, and although prices
at the close of business are a shade below the highest
point, yet great firmness was visible. Consols left off at
92i 92-a for Money and for the Account ; Bank Stock,
1671 168 ; India Stock, 249 251 ; and Exchequer Bills,
39 41 prem.

Belgian Bonds were 101,1 1021 ; Dutch Two'-and-a-
Half per Cents., 521 52* ; the Five per Cents., 1004
1011 ; Danish, 801 814 ; Brazilian, 67 68.
The Share Market was firm ; London and Bir-
mingham, 180 182 ; Birmingham and Gloucester, 53 55;
Great Western, 921 931 ; the Half Shares, 641 64;1 ;
South Western, 631 641 ; Gosport, 631 644 ; North
Midland, 65 67 ; the New Shares, 32 33 ; South Eastern
and Dover, 30 301 ; the Scrip, 71 71 ; Eastern Counties,
93 9i; Blackwall, 11h 12 ; the New Shares, 94 10 ;
Brig ton, 361 364 ; Mexican Bonds were quoted,
361 361.
The bonds of the insolvent States were marked,—
Colombian, 26 263: Portuguese Five per Cents., 371
88 ; the Three per Cents. 221 23 ; Spanish Five per
Cents., 22* 23 ; the Three per Cents, 224 22:1.
Advices from Hamburgh lead to the expectation that
the damage caused by the late conflagration will not be
so great as had been anticipated. Although many.
Warehouses have been destroyed, yet those which con-
tain the lighter and more valuable descriptions of mer-
chandise have escaped, the fire having been confined to
the opposite side of the canal. It is also known that the
stocks were unusually light, and it is supposed that the
long continuance of easterly winds, preventing fresh ar-
rivals, had caused a large portion of them to have been
worked off. The municipal regulations of the city oblige
each householder to pay a tax to the authorities equal
to the insurance of two-thirds of the value of his house,
which if it be burnt, is rebuilt at the expense of the city.
Thus the principle of mutual assurance is acted upon,
and the loss of the buildings will, in this instance, fall
upon the citizens. The extent to which our offices are
liable, has, it is stated, been greatly exaggerated. The
amount which it is likely they will have to pay being
;very small, and the Globe, which rumour pointed ont as
being heavily involved, has not even a policy open there.
(From The Sun of Last Night.)
Shortly after the commencement of business, the Bank brokers
having sold 30,0001. Consols, the market became heavy, but
since then some extensive purchases in the Three -and-a-Half
per Cents., supposed to be on account of the Scotch banks,
have improved prices; and Consols are now firm at 92i for
Money, and for the Acconnt ' • Three per Cents. Reduced,
91i ; Three-and-a-Half per Cents. Reduced, 100; New
Three-and-a-Half per Cents., 101 ; Bank Stock, 168; India
Bonds, 19 21 • and Exchequer Bills, 39 41 prem.

Foreign Securities are gond, and the prices are Danish, 81 ;
Dutch Two-and-a-Half per Cents., 52i, and the Five per
Cents., 101 i.
The quotation of Mexican has fluctuated between 36i and
36a, the latter being the nearest rate.
—Shares have been in demand, and many for those in the
Nerthern Lines have changed hands. Edinburgh and Glas-
gow, 54fr54 ; Great North of England, 85; Birmingham and
Gloucester, 54 ; Birmingham and Derby, 50 ; London and
Birmingham, 180 ; Manchester and Birmingham, 29k; Man-
chester and Leeds, 85%; South Western, 64 ; South Eastern,
30; the Scrip, 734 ; and Eastern Counties, New, 51. 4s. 2d. ;
Debentures, 114 6s. Bd.

• The bonds of the insolvent States are thus quoted—Colom-
bian, 26* ; Peruvian, l 91;. Portuguese Five per Cents. 371 ;
Spanish Fives 23, and the Threes, 22k.
This is settling day in the new Spanish Stock, which it is to
be feared will prove of serious consequence to many speculators
from the quantity of stock ready to deliver, and the inability to
pay for it.
Private letters by the Great Western represent-a decided im-
provement to have taken place in commercial affairs. The
total absence of all speculation appears to have induced a more
healthy state of businesi • and although the demand for goods
is less than formerly, still the inquiry is legitimate and without
risk. The tariff question was under discussion, and likely to
meet with some opposition from the Southern States, which it
will naturally affect. This ought to be sufficient to cause the
rejection of any new loan for America, as far as this country
is concerned ; the excess of duty received under this law, if it
be brought into operation, being applied to the payment of the
interest. _ . _

After the experience England has had of American finances,
no reliance can be placed on the stability of any act of Congress,
sol long as the Constitution is framed as at present. The
loan forms the nucleus of a national debt, and may probably be
much increased before many years shall have passed ; and when
the interest shall amount to more than the sum received at the
Custom House, then will the work of repudiation commence.
This is only under the supposition that the tariff becomes the
law. Again, should any separation of the union occur, im-
mense difficulties will be experienced in the apportioning the
debt among the individual states ; so that either way the
foreign capitalist will run great risk by making advances.
Accounts from Buenos Ayres to the 17th February have ar-
rived. Rivera, in consequence of the advantages gained by
Paz, had entered Entrerios with a body of troops for the pur-
pose of diverting the attention of General Urquiza, who was ef-
fectually opposing the advance of the Correntinos. This officer
finding himself unable to cope Si ith the forces thus combined,
had retired across the Parana, in order to wait the junction of
the reinforcements then on the march.
General Echague had assumed the command of the Federal
troops in Santa Fe, and was daily adding to the number of his
followers by the accession of the peasantry. Exchange on Eng-
land, 3d.
PRICES OF IRISH STOCKS, DUBLIN, MAY 10.
3 per Cent. Consols
Threeand Half Stock 9B-; `Grand Canal Stock ~„
Ditto Reduced
Ditto New 1830... ..... , ,9441 Ditto 4 per cent ...
3i per Cent. Debs. ' 9li ! Royal Canal Stock
LIVERPOOL COTTON" MARKET, MAY 1 L=The sales to. day
amounted to about 4,000 bales at former prices, and were wholly
confined to the trade.

LIVERPOOL SHARE MARKET, MAY Il.—South Eastern
were the only shares in request, and prices wete rather lower.
A few sales were made in Eastern Counties New, 5/. Is. Bd.;
Edinburgh and Glasgow, 54%; Brighton Quarters, 8; and
South Eastern New,
MANCHESTER STOCK EXCHANGE, MAY 11.—We have had
little doing to-day • the very unfavourable news from Ham-
burgh affects our to-day
—Edinburgh and Glasgow, 55 544 ;
Manchester and Birmingham, 284 29 ; Leeds, 861, 87%;
South Western, 63 64 ; Manchester Assurance, 94.
CLOSING PRICES.
BRITISH FUNDS.

Bank Stock ... 168 ' India Stock ... 249 k
3 per Cent Red. 9li Ditto Bonds l9pM
3 per Cent Cons 92g Ditto Old Annuities ... —.
3i per Cent Red.. 994 Ditto New Annuities...
New 3i per Cent
New 5 per Cent.. — Ditto 5001— ..... 39 pm
Long Annuities to expire Ditto 5ma11...... 39 pm
Jan. 1860.......... 12i Bank Stock for Acct ...
Oct. 1859. ... ..... 12 7-16 India Stock for Acct....
Jan. 1860. — Consols for Acct 9:4
FOREIGN FUNDS.
Austrian, 5 psi cent.... IPortuguese, 5 per cent.
Belgian, 5 pes cent — f Ditto, New Ditto —
Brazilian Bonds .... ..... . :Prussian, 5 per cent.., —
Buenos Ayres 6 percent Russian, 5 per cent —
Chilian 6 per cent... „. Ditto, Metallic .... .. .
Colombian, 6 per cent.. 254 Spanish, 5 per cent 23
Ditto, 1824............... Ditto, Deferred....
Danish, 3 per cent Bl French, 5 per cent. —l. —c.
Greek, 1825, 5 per cent — Exchange —l -• c.
Mexican, 5 per cent.... 36ti French, 3 per cent B2 . 50e.
Ditto, 6 her cent. 1637 Dutch, 2 per cent.. 52i
Peruvian, 1825, 6 per ct. 7...... Ditto, 5 per cent. .. . 101 i

. - -
SHARES.
Birmingham and Derby Railway (100 pd) 50
Birmingham and Gloucester Rail., av (100 p) 54
Cheltenham and Great Western (72k paid) 17/
Eastern Counties Railway (23 paid) —
Ditto New Shares•(— paid)
Ditto Debentures .. ........... 11/ 6s 8d
Edinburgh and Glasgow,(so paid) . 55
Great North of England Railway (100 pd) 85
Great Western Railway (65 paid)
Ditto New Shares (50 paid) 64/
London and Brighton (50 paid) '
Ditto Loan Notes (71 paid)
London and Blackwall (25 paid)............ 111-
London and Birmingham (90) ...... . 180/
London and South Western
Manchester and Leeds (70 paid)
Manchester and Birmingham (40 paid).... 29/
Midland Counties Railway (100 paid)
North Midland Railway (100)
Ditto New Shares (40 paid) . ........ 321
Paris and Rouen (16 paid)
South Eastern and Dover (50 paid) 3O
Ditto Scrip. ( 5 paid)
NEW POOR-LAW BILL.

The following are the principal clause; of the Bill in-
troduced by Sir James Graham, for the continuance of
the Poor-law Act :
The Poor-law Commission is to be continued for five

years, and it is proposed to reduce the number of As-
sistant Commissioners to nine. Gilbert's Act Unions
may be dissolved without the consent of Guardians, but
no parish, under a Local Act, containing a population of
more than 20,000, can be united with another parish
without the consent of two-thirds of the Guardians.
Parishes may be combined for the formation of district
schools for pauper children, the rules of the Commis-
sioners relating to such schools to be subject to the con-
sent of the Committee of Council for Education. A
chaplain is to be appointed by each District Board,
with the consent of the Bishop of the diocese ; and the
children of Dissenters, and others, who object to the
Liturgy and Catechism of the Church, stay be visited
by ministers of their respective religious persuasions.
Six clauses contain regulations respecting parish appren-
tices, which, if carried into effect, will abate the evils
of the present system. Persons taking children as ap-
prentices are to produce evidence of good character, and
the relieving officers are to inquire and report upon their
treatment. Relief for the casual poor, wayfarers, and
disorderly women in the metropolis, is provided fimr ;
and any parish or union relieving such persons, after
they had been improperly refused relief, may recover
the cost from the officers refusing. Clause 30 autho-
rises the payment of funeral expenses, and empowers
guardians to bury a pauper in the churchyard of the parish
where he dies. Persons becoming chargeable, through
sickness, are to be relieved where resident, and are not to
be removed till they have been chargeable for forty days
consecutively. The costs of apprehending and prosecut-
ing vagrants to be paid out of the poor-rates. The fol-
lowing is the remedy against the putative father of an il-
legitimate child :
" If a putative father does not pay the money due from
him, under an order of application and maintenance, the
same may be recovered by distress and sale of his goods ;
and if sufficient distress cannot be kid, he may be coin•
witted to gaol for any term not exceeding three months.
But no order is to be made upon any putative father fin-
any expenses in respect of the child other than its
maintenance within a workhouse, and in conformity with
the regulations of the Commissioners."
Clause 46 repeals the existing scales of voting for
election of guardians. Rate-payers under 200/. will
have one vote ; at 2001., or under 4001, two votes ; and
at 400/, or more, three votes. If the amount of assess •
went for property, belonging to an owner shall
not exceed 501., he will have one vote; if the same shall
amount to 50/., and not exceed 75L, two votes ; and so
on, giving an additional vote for every 25/. up to 150/.,
when he will have six votes. No person is to hold more
than four proxies, unless he he the steward or agent of
his principal. The remaining clauses relate chiefly to
the appointment, resignation, and competing of Guar-
dians. Provision is also made for more extensive out-
door

CAMPAIGN IN AFFGHAiNrISTAN.
KYBER PASS.
TO THE EDITOR OF THE SUN.
have some knowledge of the presea
Douranee kingdom, by which term I mean the coun-
tries of Caubul, the Damaun, the Derajat, and the
territories eastward of the Helmund, and if my know-
ledge will serve to explain some of the movements 0,
the intended campaigns in Affghanistan, I shall be
happy to occupy a short space in your columns. •
The last Overland Mail has brought intelligence
that General Poiloek did not intend to force .the
Kyiser Pass (some of your Contemporaries • had
gratuitously added). until he has sufficient force to
ensure success. Those who —know the Douranee
kingdom, and the countries bordering upon the Indus,*
are hoping that the forcing of the Pass will never
again be attempted, until the countries both in flaw'
and rear of the Passes shall be in the occupation of the
British. If there be—as we think there be—a route
by which both the Bolan and Kyber Passes 11,0'
be avoided, it is worse than needless to sacrifice
military resources and human life for the Or'
of a few days in time. The co-operation of the Sfichi
of the Punjab clears away many difficulties' ;_ formers"'
wben Lord Auckland proposed to the Maha Rai"'
Runjeet Sing that the British army, destined to place
Shah Soojah upon the throne, should pass through ellg
territories, the proposition was met by a cold assail'
and as this coldness made it more than probable that
we should convert a luke-warm friend into an open,
foe, another, but prolonged, route was chosen ; bu
now that the Sikh routes and resources are at out
disposition, a different and more speedy plan of opera"
tion must be adopted. We have at this time a large
'
force on the left bank of the Indus, and for our friend
General Avitable, a noble-hearted Frenchman of the
Imperial, army, who commands in Peshawar and the,
surrounding districts, and as he has hitherto assisted
us, he will now no doubt afford us all the aid wei
need ; if this be so, General Pollock need not bazar'
a single company in the Kyber Pass. There are
three routes by which the Kyber Pass matey he
avoided ; one by the road which runs in a ortly
West direction from Peshawur to Mucknee, crossill
the Caubul river at about 30 miles from Peshawar, an
keeping along the valley of the stream until you ea°,
at a point opposite the old fort, where the stream Inas;
be again crossed, and the end of the pass turned s"
Duka Khord and the Huzarnow. It is true, that Pr
any route other than the Kyber, it will be necessail
to bring boats for the transportation of the heavy.bAr
gage and artillery from Attock, a distance of eighti
miles ; and that by the Mucknee route, there is sol
strong ground between the Kaffir fort and Bussoe"
and that at this point there Will, be some hard fight'
ing, and also that the movement cannot be effeotee
in less time than one month. But what are these
obstacles compared to the possibility of defeat ?
other routes, from the reports of intelligent Sikh ote,:e
cers at Peshawar, are one by the Tataree pass, and t"
other by crossing the river at Caubul, 20 miles ab°l'l3
Peshawar, and using the valley of the Lundye ,
Hushnuggur, and then by the Cheroppa pass to
poora, ; but this country is inhabited by the Eu 7,
fyzels, under the rule of the Rajah of Swat ; and aS--ql.
have never been subdued by the .Sikhs, it is doui&
if they will tolerate any armed force in their couate
without at least attempting. resistance. The Gilzeq
Oolges, Caukers, and Kyberees, are, like our anoletli
Highlanders, impatient of control. The Kyherees,
have several times defeated the Sikhs, not that thci,e
are powerful or good soldiers, but the country is, t;,
strongest in the world. The route from India ;
across the Indus at Attock, and from thence ,
very good road to Peshawar, a city that formerly ees,
longed to the Douranees, but which was wrested fr,e/,
them by the late Maha Rajah, and whose possessle
in it was confirmed, together with some other el
quests on the right bank of the Indus, by'
Auckland,* in 1838-39. From the city there
good road over the plain, twelve miles to Jantr7,tf
two miles further the Kyber Pass ,begins.
sixteen miles up the pass is an old fort called
Mushed, and at Shopeca is the remains of a stone w''
but neither the Kyberees nor their ancient rnas.teo
have erected any fortification that could resisty
European force ; the natural difficulties are t
strongest barriers. Huge piles of almost perr-of
cular rocks, 2,000 feet high, rise upon each sic 6
the pass; for several miles the road itself is but thin •
of a stream, which is so narrowed in some planes
single cannon' only can pass; with large maseS
broken cliff scattered over the widest parts; ltnii),
last, but not least, the Kyberees, armed with the jai
a native rifle, fixed upon a rest, and which can cue,
nearly 800 yards, concealed in the crevices of the
cipitous hill-side. The British troops, backect,ej
artillery, can force this pass, if defended by the one el'
tribes of Aithanistan ; but is it wise to risk life lie
stores, when another road, comparatively safe, .o,e
open ? The late failure of Brigadier 'Wild,,eheo
from his not having sufficient light artillery-
who have followed the ofoperationsnsi
itli lepen Filn.l ;1;
against the Guerilla bands in the Spn
have seen that the French were never sUcces4lll4l
when their corps were supported. by light mouP'tbe
guns; not that the Kyberees can be compared. ..tg• v
Spanish Guerillas, as they have no patriotic feeling
stimulate them to combat,—plunder alone urges
to fight, and they are eqtially indifferent if their ee;'si
gonist be Persian, Caubulle, Sikh, or Europealk
that the plunder be sufficient to reward their fors3::#l
If, as I have before written, when we have oectlir
the flank and rear of the pass, we conquer the v ot
ditti who inhabit it, the Indian Government muggy
only build forts at the further and nether end 04
pass, but they must erect field works on the cros'oe
the hills, to command the centre of the pass. of
necessity of erecting forts in all the passesktitit
pointed out to the Anglo-Indian Government, u,OOl
was urged that our presence in the country z.e3
be but of short duration, and that having P`,31,4
Shah Soojah upon the throne, our mission woulvuert
accomplished ; and that the Indian Government' ter
not justified in incurring the expense of such c''‘,„ the
the strongholds. This was a weak argument, 'foie
the campaign of 1839 were undertaken to defea,'
designs of Russia, or to paralyse her suppose °uo
fluence, we should at once and for ever have t¢ as
away from her and from every Power, both Euror,d,
and Asiatic, the means of sin tiing up the coon the
which in this land of mountains, those who p055e55.,0
passes can always accomplish. Great Britain 1101'0'
pretty smartly for this policy. Notwithstanding th,
pouring of those semi-informed writers who would
Great Britain inflict chastisement upon the Mfg tr,'S
for their treachery, and then abandon the conlltd
those who appreciate our position in Central Asia' 001,1
study coming events, know that Great Britain
the
FOR EVER hold the passes of Affghanistan and of ot
HimUlayahs : these in our hands, we may 10,5,40
the dreams of Russian statesmen, and at the arwvs,
of .the Autocrat, or the wild *ibex of Khorasile, Ole
cited by the intrigues or gold of any Power iess'e
world, should they menace our Indian Empire.
ive
'
may, holding the passes, allow these armies, or 11011,
hordes to perish either by starvation or by dise:el•
and calmly defy all their. attempts at onward.lP
The lesson of the past will not be lost upon us•
have suffered temporary disaster ; but we are ne"
in retreat. acts
The frowning sierras of Spain were never b°lsll'
to British valour. The heroes of Marengo, Jong', ill/
Austerlitz, backed by the most skilful artillery ;ed.,
world, could not delay the onward stride of Eng'ft tle
legion—and shall a band of fierce barbarians stN, p
onward course of British civilization in India q,: tip
.Sir ; the British lion has been stung by a hortlV
his slumber, but the insect will be crushed in the
lash of his avenging anger.—Yours,
AN ANGLO-ASIAA%
Treaty with the Maha Rajah. " 4
. 400
THE « NATIONAL PETITIO.I
MR. T. DLINCOMBE.
We have been requested to give insertion to
correspondence :
Convention Room, Beck's Hotel, Fleet-s)fii /If
Sir,—The Members of the National Convention 01 `lietl,e
dustrious Classes of' Great Britain unanimously tender Y°L,lO::
most cordial thanks for the patriotic manner in which Y'd,or,i
discharged your duties in Parliament, to the working
and more particularly do they express their high esnt;
your services, speeches, and motions, in reference to t.",ebrdr
National Petition, signed by three millions and a half
in the presentation of which your arguments as a spea'-d
consistency as a man, and your zeal as a tried and troteoce
of the disfranchised, have richly merited, and do now
their individual and collective approbation. „ipso'
(Signet!) ABRAM DUNCANe-Cbal'
T. S. Duncombe, Esq., M.P. leo#?
The Albany, May 9, .011 be
Sir,—l beg to assure you, that it is a source of nOl
derable gratification to me, to learn that my conduct' ot. is
ppresentation of a petition signed by nearly three million
half of my fellow-sub(ects, as well as my endeavours :t fOY:of
for these petitioners a hearing at the bar of the House. ,top
mons, has met with the unanimous approbation of lb.e_l'atri°i.
.
Convention, representing, as that body does, the
classes of this country. In acknowledging this flatter";eo,le
moray of public approbation, I cannot refrain from
the pain and mortification that I experienced at tn:-;ii30:4,1
which the House of Commons pursued upon the ec!•',,clvf
ferred to; instead of that assembly allowing the work?rthiool
to explain their own views, I witnessed not. only theolrcerlfi
unheeded, their statements discredited, their objects Filed,
their motives misrepresented, their characters m2lig
their respectful prayer contumaciously rejected. it)he
If a
cfoenetawtiavnetisnygst:fmt,ht'letllicoel;loif
a at
ipnr oof wereur
re before
es
manner in which the unenfranchised millions, the s°, orpl'
rtincyalPerahcatnigcaei
and industry were treated on Tuesday last, has 900 ire
that proof. thatie
Concurring, therefore, as I do, with the petitionerh% prow
peace of the empire, the security of property. and t bY 001
rill, of commerce, can only be permanently 'sear?, tr

.ty _ _-, ly be permanently 1 ...• ,e'
House of Commons being identified with the pcoP c;iiii Pip(
the day is not far distant when that House shall bec?'°A ev
tice, as well as in name, " '1 he People's House ;' 17009:
as the humble exertions of an individual like IllYset; it fle
mote that object, those whom the National Cotve4 "c°o.,
sent may at all times rely upon my assistance, a" -0,
my cordial co-operation.—l have the honnur:.B:icOo;
ii-
i.fr
Mr. A. Duncan. THOS. S. DUI' - , „LP
CORN DECEPTION.—Esau sold his bin 9 thc,:lior
mess of pottage; and the British farmers (0 “(I,e,
Lane Empress) are sold for " a blue riband."-- *k.rost
of Buckingham, we suppose. -1— Worcestershire i

TAN.

present
:he coun-
and the
iy knew-
?ments of
shall be
ens.

telligenee
orce the
ries had
force to
)ouranee
he Indus;
ill never
in think
Lon of the
—a route

sses uinY
sacrifice

the gain
the Sikh'
formerly,
ha Raiull
1 to place
lough his
Id ament,
Fable that
an open
Isen ; hat
e at out
of opertv
a large
111. fried
11 of the
r and the
3 assisted