The Sun.
London, England, 1842-12-30 00:00:00

the east of Arra2:on, and the Tortesa and Lenin
readr..; a. 1.1. a third in the neighbourhood of T:-c—t-
gona and the frontiers of Valentia. It is said that 70
battalions and 10 squadrons, forming, with the artil-
lery, an army of 40,000 men, ate assembled ; but this
appears to be designedly exaggerated. The battalions
have not more than 350 men under arms. No regi-
ment has the full war complement, except three or
fiur favourite ones, which serve as Royal Guards to the
Regent, and which he takes with him everywhere, as,
for instance, his Luchana Chasseurs. The expenses
of this army already amount to a million and a half
of francs a month. The Regent has granted an allow-
ance of 25f. for each officer and 5f for each soldier,
in addition to their pay. This allowance is paid,
bat the usual pay remains two or three months
in arrear. Before the capitulation of Barcelona,
the troops lived only on forced contributions re-
quired from the inhabitants. Even the officers would
not have anyth;ng to eat were it not for the army
rations that were distributed to all indiscriminately.
As the troops are now to be paid regularly, the army
being in fact the only guarantee of order in Spain,
and as, besides, the expense is much greater now
that they are placed on a war-footing, the whole
amount will not reach less than two millions and a
half each month. The Minister of Finance feels the
greatest difficulty in satisfying all the calls on him.
He sees the loan, which is not yet effected, in a fair
way of being eaten up, and he grieves to behold the
Regent, intent on his military ideas, increasing the
embarrassments of the Treasury.
Most of the journals express satisfaction on
finding what they call a more calm tone in the

English journals respecting the Barcelona affair,
and appear inclined to follow the example.
Let the writers leave off abusing this country,
and they will find this calm tone preserved. On
the very day, however, in which such remarks
were made, the Constitutionnel asserts that the
violent language used by the English journals
was to involve France and Spain in war. This i
a most unjust accusation. M. TITTERS knows
little of this country if lie can believe for a "no-
ment _that any one party in England would be
pleased by such• a result. On the contrary, we
believe all classes would regard it not only as a
calamity to-Spain, but to the whole of Europe.
BOURSE—PARIS. TUESDAY, DECEMBER 27.
First Highest ~.owest Last
Price. Price Price. Price.
French Five per Cents. 119 30... 119 35... 119 30... 119 35
Four per Cents. 101 60... 101 60... 101 60... 101 60
Threes ... 78 90... 78 90... 78 80.. 78 85 '
Bank:of France, ex div. 3277 50...3310 ...3277 50...3310
Belgian Bank, 1841 ...108'1 ...1080 ....1080 ...ICBO
Belgian Fives lO3/ 1031 1031 ... 103/
1840.... 1041 ... 104/ ... 104/ ... 1041
Spanish Active. . .... 24 ... 24 ... 24 ... 24
Passive ...... 4 ... 4 ... 4 ... 4
Neapolitan
Roman .. 104 ... 104 ... 103 i ... 104
. _

RAILWAY SHARES. -
Versailles, L.B l2O ... 120 ... 115 ... 115
R.B 290 ... 293 75... 290 ... 293 75
Rouen
Orleans. 632 50... 633 75... 632 50... 633 75
Strasburg to Bale 205 ... 205 ... 203 75... 203 75

AMERICAN NEWS

LIVERPOOL, THURSDAY MORNING,
HALF-PAST THREE.
The British and North American Royal Mail
steam-ship Columbia, Captain MILLER, arrived
in the River Mersey, this morning, at three
o'clock, after a very rapid passage of ten days
from Halifax. She is the bearer of the Canadian
and United States Mail, but she entered the
river so close upon the departure of the train that
her letters cannot reach London till Friday
morning. Our express only saved the train by a
few minutes.
The news by this arrival is seven days later
than brought by the packet-ship Independence,
and is of considerable importance.
From Canada the accounts of Sir CHARLES
BAGOT'S health are very unsatisfactory. The
Montreal papers state that very serious fears are
entertained respecting the continued illness of
his Excellency the Governor-General, lest his
remaining strength should prove insufficient
to enable him to rally under the com-
plaint from which he is now suffering. It
is now stated, on what seems to be
good authority, that his Excellency's medi-
cal attendants entertain but slight hopes of
his recovery ; there is too much reason to be-
lieve that this report is true. It is said that
some days back the physicians in attendance
were of opinion that a removal to a more genial
climate might have a favourable influence on
the Noble invalid, and that such a step was ad-
vised, but that since that time a change for the
worse has taken place, and that at the present
moment his Excellency is in too weak a state to
render his removal possible.
Upon the subject of the State debts, the New
York Journal of Commeree says :—" We hope
that those States whose bonds are in dishonour,
will, during the session of their Legislature this
winter, do something to restore their credit and
redeem their obligations, That which is espe-
cially wanted, is a system of revenue. Several
of the States have absolutely no system of reve-
nue, which has any reference to their large
debts. Some of those who are in debt,
have lived so long by borrowing, that
they have hardly revnue enough to pay the
current expenses connected with the administra-
tion of government. Any system which might
now be established in a new State, would grow
with its growth, and become important. If the
amount raised were but two per cent. on the
debt now, the same rate of taxation would pro-
duce six per cent. a few years hence. Tile desi-
deratum is to do something. It is the establish-
ment of a system of revenue, however small the
results may be at the first. Such a movement
would prove at least that the moral sense of the
people was not altogether bad. This proposition
will determine whether it is so or not; for no
State can say that it cannot do something.
The usually long reports of the War, Post-
office, and Navy departments, have made their
appearance. The same paper remarks upon that
of the Navy and upon that of the Post-office :
" The Navy proposes, among other things, a
thorough scrutiny into the merits of our naval
officers; and that those of inferior qualifications
be discharged, and placed upon half pay. To
some extent such an expurgation is probably
necessary. It would of course be popu-
lar with the officers of superior merit, as
it would elevate the character of the ser-
vice, and increase the chances of promotion.
It appears that the receipts during the past year
have just about equalled the .expenditure. The
number of miles of post-road traversed during
the year is 34,835,991; post-masters, 13,733; re-
ceipts, 4,546,246 dolls.; expenditures, 4,627,716
dolls. The Postmaster-General recommends the
enactment of more efficient laws to prevent the
transportation of mail matter by private expresses
—a reduction in the rates of postage—and
a purchase by Congress of a perpetual right to
have the mails transported upon railroads. The
amount paid last year for mail transportations on
railroads was 432,568 dolls.; miles of railroad over
which the mails were transported, 3,091.
" The suggestion in favour ofa reduction in the
rates of postage, we trust, will be acted upon in
the present session. In some parts of the coun-
try, if a farmey raises a bushel of wheat, he can
sell it for 25 cents: • If he receives a letter from a

distant friend, he must pay the same-25 cents.
We fully believe, that _
if a reduction of one
quarter was made in the rates of letter postage,
the revenue accruing to that Aepartment would
be greater than it now is. The Postmaster-
General complains of a diminution in the amount

of postage collected in the principal cities, and
attributes it to the increasing quantity of mail
matter conveyed between those points by private.
expresses and individuals. Reduce the postage,
and the motive for resorting to such modes of

conveyance would be diminished. In these hard
times, people are inclined to economise, even in
the matter of postage. The experiment of penny
postage has suttee Led admirably in England ;
if we cannot safely imftate it to the full extent,

we can at least approxim)te towards it."
The New York and Boston papers, speculate
upon the probable measures which the present
Congress will adopt, upon which the Journal of
Commerce, a paper of great influen,le and circu-
lation, asserts that they will repeal the Bank-
rupt law; Congress will provide for the Pay and
•,

mileage of the Members; Congress w.'ll not
adopt an. Exchequer project ; Congress wilt not
do much with the tariff at this session.
The foreign news which had reached New
York since the Independence left that city is to