The Sun.
London, England, 1842-04-07 00:00:00

PARLIAMENTARY.

The Cheltenham and Great Western Union Railway was
forwarded a stage last night, though an attempt was made to

impede it.
The rule of the House of Commons not to receive petitions
against a tax under discussion aas put to the test by a petition
against the mode of levying the income tax, which Lord John
Russell presented from the farmers of Roxburghshire, but
which he withdrew on the Speaker deciding that it could not
be received.

Sir K. Peel graciously added, that he would consider the
peculiarities of Scotch farmers.
A new writ was issued for Montrose in the room of Mr.
Chalmers.

Sir C. Napier gave notice that he will move to exempt offi-
cers of the army and navy, under the rank of General and Ad-
miral, from the income tax.
In an4wer to Lord J. Russell, Sir R. Peel said that about
340,0001. of the Canton ransom swelled the revenue returns for
the present quarter.
'I he House went into a Committee on the Copyright Bill,
when its principle was discussed at some length. Lord Mahon,
on whom Mr. Talfourd's mantle has fallen, made a long
speech in its favour. Mr. Macau ay took the adverse side.
The Bill, however, was carried a considerable way through the
Committee, and occupied the House nearly the whole evening.
The Committee is to sit again next Wednesday.
No other business of importance or interest was transacted,
and at a Quarter past Twelve the House adjourned.
PUBLIC OPINION.
The Post has an article on the subject of the disastrous pro-
ceedings in Cabool, wherein it observes :—" General Elphin-
stone seems to have acted like a man far mere anxious to get
away from a pressing danger than to confront it—a very good
sort of character, perhaps, for the ordinary occurrences of life,
but a very bad sort of character for a leader in perilous cir-
cumstances. When danger is at a distance, it is wise policy
to keep it off if ycu can ; whon it presses, valour is the only
wisdom : turn upon it, fight with it, die in the struggle, if so
it please Providence to decide : but make the enemy respect
ou, even if he conquer. As for General Elphinstone and
his army, lie led them away from danger into death. Instead
cf making a manly struggle where it might have been made
with some effect, he took them where such a struggle could not
be made with even the remotest chance of success."

The Chronicle expresses itself in the following terms, on
the subject of the income tax :—" The income tax, properly
so called, is to be enacted exclusively for these who are beyond
the sacred pale of agriculture. As to recipients of small in-
comes, earned by indu-try, this injustice is a- vet y foul atrocity.
What and where are the profits of salaried employes who are
paid from 1501 to 3001. per annum ? The very word, as ap.
pied to them, is an absurdity. It must, at least, be so, in the
event of their having families dependent upon them for sup-
Fort. A few pounds in a savings' bank may, probably, re-
present all that the most careful can annually realise as profits.
By close economy, they may, perhaps, save enough to pay the
tux upon their incomes. What to the farmer is a per tentage
on profits, to them is a confiscation of profits. Beyond that,
instead of portion of saved money, the tax is a sen-
t once of actual privation. The three years' pretence is already
discarded. This income tax in not meant to be temporary,
1' will will evidently be co-exis'ent with the ascendancy of
Toryism. After three years Sir Hobert Peel now promises not
to take off the tax, but to be guided by the decision of Parlia-
ment as to its continuance; and he expresses his hope that
Parliament will be di-posed to prolong its duration. Of course
the present Parliament will be disposed to do so. We are
under a landowners' Legislature. They will readily do the
Minister's wink. We may take for granted at once that the
burden is permanent."
The Herald says :—" It will not be the fault of the trading,
professional, and literary classes themselves if, to use the Pre-
mier's language, no alts ration whatever be made in the in-
come tax.' Let them at once imitate the energy and activity
of those sections of the community who felt their interests en-
dangered by the alterations in the tariff, and the wedge will be
inserted into that portion of the Minister:al proposition which
will, if it pass unmodified, act as a tax on the profits of actively-
employed and reproducing capital and of labour. Nothing ex-
ttavagant, nothing unreasonable is wanted; all that is sought is
that Sir Robert Peel's own equitable declaration that every
man ought to be taxed according to his means,' be made the
basis of the proposed levy on income."
The Times, after arguing on the impoliey of the advance
upon Affghanistan, goes on to say :—" We have lost the cred t
a success by the most complete and disastrous overthrow that
our arms ever suffered in India. The first are gone for ever;
the last we have to regain as we can, by more bloodshed, know-
ing ourselves meantime to be engaged in an uncalled-for and
unprofitable quarrel—a quarrel which, as we began it without
excuse, so, at best, we shall have to end it by a mere empty
assertion of our power ;—necessary, indeed, in this dreadful
conjuncture, but unaccompanied by any useful or safe acquisi-
tion of friends, or honour, or treasures, or territory—an occu-
pation perilous and unprofitable to maintain—suffering, with
no object but infliction—loss of men and money, with no re-
compense but a demons'ration. Such is the course to which
we are pledged by the fatal policy of the Indian Government.
Such is the course which we must indeed pursue with prompti-
tude, and vigour, and unfaltering decision, but with a heavy
heart, and no thankful feelings towards those who have bound
us to it."_

_
The Advertiser remarks, in an article on the state of affairs
in India :—" The effect of a sudden arrival in India of a strong
effective band, would be of incalculable benefit; for, although
India, otherwise than the immediate theatre of the war, may
be described as tranquil, still, never was there a moment when
the dread of danger from all sides equalled the present. The
drain of soldiers to China—and where events are still sus-
pended, awaiting a reinforcement of six regiments—is in itself
a reason why the greatest efforts should forthwith be made to
supply, through the most expeditious channels, the desideratum
of European troops in India."
MONEY—TRADE—COMIVIERCE. .
The workpeeple employed by Messrs. Honley and Co., of
'Vacs burn, have turned out to the r.umber of about 1,500, in
consequence of an attempt to reduce their wages.
Dundee is in so depressed a state of trade, that no less than
4,000 working people are dependent on charity.
Messrs. Acraman, Morgan, and Co. made a satisfactory
statement of their liabilities and assets on Monday at Bristol,
and have had till the 31st of December given them to com-
plete their affairs.
ELECTIONEERING.
The Brighton electors have called on Lord Hervey and Mr.
Summers Harford, the two candidates, to meet them at the Town -
hall to-day to explain their political principles in regard to
the income tax, in the event of their being returned.
PUBLIC IMPROVEMENTS.

The total receipts for the restoration of York Alinsteramount
at present to 14,3371. 3s. 6d., to repair dilapidations in the
building not connected with the fire, w►ll cost about 12,000/.,
to complete the restoration of those portions damaged by fire,
9,000/. For this purpose some of the church property w►ll be
sold, and the Dean and Chapter provide 4,0001. out of their
own resources. _ _ _ _ _

It is contemplated to lay the road from Salisbury to South-
ampton with wood-paving. The cost is estimated at 95,000/.
STATISTICS. _ _

Great Britain, according to recent calculation, has 180 ca-
nals : these extend to 2,682 miles, and have been formed at
an expense of 30,000,0001. sterling.
NAVAL AND _

A new light-vessel will be placed about the middle of this
month on Anholt's eastern reef in the Cattegat. It is to con-
sist of nine lamps with rotary gear, and be elevated twenty-
five feet above the level of the sea. A new flash-light will
also at the same time be exhibited on the island of Anholt,
which will show a strong flash every twenty.fifth second, and
be continued every night throughout the year.
The Government hired transport, Cornwall, is now loading
at Plymouth with stores, and taking on board 10,000 bags of
biscuit for the fleet in China.
LAW AND POLICE.
The bankruptcy affairs of the Messrs. Gale, late extensive
rope-makers in Shadwell, were brought before the Court on
Tuesday; the debts are about 30,00; /., the assets in hand 3,000/.
Assignees were chosen.
The affairs of Messrs. Arnold and Woollett, recently in-
surance brokers in Clement's-lane, were also heard ; their
liabilities amounted to 60,000/., their available assets to
about 11,0001. An assignee was chosen without opposition.
William James, charged with having wil tally set fire to the
Vicarage-house at Marshfield last February, was found guilty
y, and sentence of death
commuted to transportation.
Thomas Groom,gunmlker, of the Hampstead-road, ap-
peared at Worship-street on Tuesday, t• answer the charge of
having driven over a woman, whose name was unknown, and
thereby caused her death. Accident was pleaded, and a re- •
cognizance entered into to appear to-morrow.
fhe inquest on the death of the four unfortunate men killed
by the accident on the South-Western Railway, was concluded
on Tuesday, when a verdict of " Accidental death" wasreturned,
with a deodand of 501., and the foreman, Ferris, declared in-
competent to be trusted.
The Whitecross-street prisoners have presented a petition to
both Houses of Parliament, praying the Legislature to recog-
nize a distinction between the fair and fraudulent debtors,
by making imprisonment the punishment of crime, and not, as
at present, the aggravation of misfortune.
C o xr ra—rAsmoisr.a.sx.E.
The Duke of Wellington hunted on Monday with the Vine
hounds, at Strathfieldsaye.
The Archbishop of York gave a grand dinner last evening,
in Grosvenor-square, to the Duke and Duchess of Cambridge
and Duchess of Gloucester.
The Marquis and Marchioness of Anglesea arrived at Ux-
bridge House on Monday.
Earl and Countess Grey are expected in Berkeley-square
this week, from Howick Hall.
The Earl of Jersey arrived in town on Tuesday, from Whit-
tlebury Lodge.
Lord and Lady Maryborough are passing a few days at Tun-
bridge Wells.
MISCELLATirEcItys.
Sir J. Dowling succeeds the late Sir Francis Forbes, as Chief
Justice of New south Wales. Judge Forbes was called to the
Engl sh bar in 1812, and received the honour of Knighthood
in 1837.
Six new scholarships have been recently established by the
masters of Rugby school for its students—three at 30/. and
three at 201. a year.
umozOtrit OP THE DAT.
The Marquis of Tweeddale, it is said, will be the new
Governor of Madras.

The Courrier de Lyon, says :—" We are assured
that, during the past winter, three monks of the convent of St.
Bernard died from the severity of the cold."

• MONEY and COMMERCIAL NEWS.
CITY, WEDNESDAY EVENING.
The firmness which has for some time past been no-
ticed in the English Funds, has to-day caused a further ad-
vance, and Consols leave off at 90/ for Money, and 90 I for
the Account. Bank Stock, 166 167 ex div. ; and Exchequer
Bills, 35 37 prem.
In the Foreign Market, the last quotations of the Portu-
guese Five per Cents. were 354 36*; of the Three per Cents.,
204 211; Colombian, 27 ; Mexican, 394 4O ; Spanish Five
per Cents., 25 and the Three per Cents., 24* 25. The
I closing prices of Belgian were 1031 1041 ; Brazilian, 67 68 ;
Danish, i 0 81 ; Dutch Two-and-a-Half per Cents.. 52 ; the
Five per Cents., 100
The Share Market was firm. London and Birmingham,
84 86; Great Western, 28 29, the Half Shares, 141 15
prem • Birmingham and Gloucester, 56 58; South Western,
,
59/ 601 ; Gosport, 60 61 ; North Midland, 69 71, the New
Shares, 34/ 35 ; Blackwall, 12 the New Shares, 10; and
13ri,ghtoc, 36a y per share. South Eastern and Dover, 22*
914 ; and Eastern Counties, 14i 13,3 discount.
To-day was the first opportunity for effecting private trans-
fers in several a the stocks, which have hitherto been closed
for arranging the dividends due on the sth instant, and which
will be paid to the public in the course of a day or two. It
was eagerly taken advantage of, and several purchases were
made, principally for the purpose of re-investing dividends, and
the singular circumstance of the New Three-and.a-Half per
Cent. Stock, being above par, is to be noticed, bargains hav-
ing been made at 100/. Notwithstanding the favourable ap-
pearance of the funds money has been very difficult to procure,
and the rate, from day to day, or for short periods, has been
six per cent. per annum, and for the next Account 31 per cent.
There have been no foreign arrivals, or any feature in busi-
ness, beyond the funds to observe upon.
(From The Sun of Last Night.)
A further advance in the prices of Consols has again taken
place, and the market still bears an appearance of firmness.
Several purchase, have been made for investment, and the rates
are now—Consols, 90% to 904 for Money and the present
Account, and 91 for that in May ; New Three-and-a-Half per
Cents., 99; 100/ : Three-and-a-Half her Cents. Reduced,
98; 99 • Three per Cents., 89894 ; Bank Stock, 1664 167 ;
India Bonds 12, and Exchequer Bills 35 to 37 prem.
Thv, st;eculaiors in Foreign Bonds have taken advantage of
the rise in the English Stocks, and caused the quotations of the
various Securities to be marked higher. The Old Spanish
Active Fives, and the New Three per Cent. Stock boar ex-
actly the same nominal price, 25 25* ; but wherefore this
should be the case is difficult to be understood. Mexican also
has advanced a trifle, and is now quoted 40. Colombian,
27 27/ ; Colombian, ex-Venezuela, 14%; Peruvian Six per
Cents., 17 for the Account; Portuguese Five per Cents. 36,
and the Three per Cents. 21. The price of the Dutch Two-
and-a-Half per Cents. is 52b 524, and of Brazilian 67i.
Railway Shares are all firm, and attention is now drawn to
those lines which bear a low price, in consequence of requiring
capital to complete their intended arrangements. Croydon
Trunk, 13i 131 ; Eastern Counties, 9; South Western, 60 ;
Brighton, 36 ; Bristol and Exeter 40 ; Great Western, 924 ;
the New Shares, 644 ; Fifths, _

Money is very scarce, and the rate of 6 per cent. per annum
has been paid on Consols.
It is considered that the report of Austria, Holland, and
Russia, having obtained each a loan is incorrect; the latter
Power has not yetconcluded the negociations still in progress
and those fur the other two Powers are in embryo.
From accounts from Sydney, by the way of Calcutta, infor-
mation has been received of the stoppage of the mercantile
firm of Messrs. Duke and Co. This makes the third or fourth
occurrence of a similar nature which has taken place within a
comparatively short time. It is with regret that it
must be noticed, that these failures create but little
surprise, when the method hy which trade in that
quarter has been carried on for some years past is
remembered. In addition to extremely heavy imports,
far beyond what the colonists could by any possibility
take off, the rate of, interest on advances and commercial
transactions has been frequently as high as fifteen per cent.
per annum ; mach above what any legitimate operation
would allow. Beside these drawbacks, the speculation
on land has been carried to an immense and ruinous extent,
the present holders of which, coming in at the highest price,
now find themselves nearly ruined. At the commencement
of business, the first traders rapidly made large fortunes,
and it is to these accumulations being suddenly realised,
that the present distress is mainly to be attributed. As
an example of the state of trade there, an instance very lately
happened, of a whole cargo of Stilton cheese, and amounting
to many tons in weight, being hinted at Sydney from Liver-
pool, in the best possible condition, and immediately sold, to cover
the advance, at 7d. per pound; this cargo was after wards re-sold
for the Calcutta market at a price nearly approaching Ild. per
lb. When the amount of the loss upon the cost price, and
the high rate of interest ;is calculated, little surprise will be
exhibited at the mercantile distress now so unfortunately pre-
valent there. There are no foreign arrivals to-day.
LIVERPOOL COTTON MARKET, APRIL s—Was very quiet,
and few sales were effected in any descriptions of cotton, yet
prices were not lower. The speculators took 400 American,
and the sales were 200 Surat, at 3id. to 4ad. ; 100 Pernams,
7d. to 7-id. ;30 Egyptian, 7ad. ; and 1,670 American, 4ad.
to 7id., being a total of 2,000 bales.
LIVERPOOL. SLIARE MARKET, APRIL s.—No sales
of any extent took place in Railway Stock ; prices remained
unvaried, and the following shares were disposed of:— Eastern
Counties debentures, 10i ; Edinburgh and Glasgow, 48A ;
Grand Junction, 184 - ; Great Western Fifths, Ioi ; London
and 13iimingharn, 174 ; Manchester and Leed b.Boi ; North
Midland Halves, 341 ; Ditto Thirds, 221. 13s.
_lo.d.___

MANCHESTER STOCK EXCHANGE, APRIL s.—There con-
tinues to be a fair prospect for improved business in Railway
Stock, particularly Manchester and Birmingham, Edinburgh
and Glasgow, and Liverpool and Manchester. Edinburgh and
Glasgow, 491 ; Manchester and Birmingham, 27 274 27i ;
Bank of Manchester,

CLOSING PRICES
BRITISH FUNDS.
Bank Stock 1664 India Stock ..... .

3 per Cent Red .. 89i
3 per Cent Cens 9og
_ .

Ditto Bonds l2 pm
Ditto Old Annuities