The Sun.
London, England, 1842-03-24 00:00:00

i?UISTAC OPEATIOI.

The following is fronTi'heloistinTehronicle :—" The
income tax is imposed upon altogether deceptive pretences. The
resources of the country are fully equal to any emergency
which exists, if they had but fair play from monopoly. Were
it otherwise, we might still ask, when ever did the dimi-
nution of income avert the danger of bankruptcy ? Equally
deceptive is the other excuse for the income tax, viz., that it
is to operate as a counterpoise to the changes in the import
duties. Why, the most important of those changes will be
sources of revenue. Absolute prohibitions and prohibitory du-
ties bring nothing to the coffers of the State. Every instance
in which the duty shall be hereafter paid on meat or fish will
bring so much gain to the Government, while it cheapens the
price to the consumer, and 1. ayes him better able to bear his
remaining burdens of taxation. Any reference.to the tariff,
in justification of the income tax, is a transparent fallacy.
There is no necessity for the income tax whatever. The pre-
tended occasion for it is a hoax. Its real deign is that of a
boon or bribe to the interest which rased the present Ministry
into power."
The Times observes, in reference to Mr. Webster's despateh
to the American Ambassador in London, on the subject of the
brig Creole :—" Not Lord Aberdeen or the Crown itself can
justify a detention which the law does not justify ; not all the
• most sweet voices' of the United States will excuse a British
functionary in overstepping that authority with which the law
invests him. We have our laws, and we govern by our laws,
and it is mere arrogant impudence, mere presuming on English
gullibility, to demand of us to govern by any other. 'this,
however, Mr. Webster is obliged to demand. We do not
doubt that he tee's the difficulty of his task—we believe he is
alive to the audacity of requiring that English magistrates
should ad.ninister American law on English territory. His
tone is not that of a man who thinks himself in the right "
The Advertiser observes .—" As Mr. Labouchere cogently
stated, if a zeal system of commercial reform were instituted,
an income tax would be unnecessary. Why did riot Sir Robert
commence with a real system of commercial reform? Instead
of, at such a crisis in the national destinies, imposing fresh
fetters upon industry, why did he not rather confer upon it all
the emlncipation of which it could be in need, by abolition of
the corn duties? To propose a scheme of direct taxation,
wnile the people were already pressed by an amount of indirect
exaction not to he strained further, and taxing the income of
industry at the same rate as that accruing from land or realised
capital, is in itself a policy of the most suspicious character."
The Herald contains a leading article, suggested by Sir C.
Napier's naval speech in the Commons last night, in the course
of which our Contemporary observes :—" It is certainly asto-
nishing that the noblest service which any country can boast of
should be left, at this time of day to vindicate any fair preten-
sions which it may possess, whether to the protection of the
Legislature or the indulgence of the public. For ourselves, the
present disposition of our opinion is, in favour of a naval Lord;
because we believe that the true administration of his high
office must be greatly governed by a practical intimacy with the
details of his department, such as it would be scarcely fair to
demand of a mere civilian."
The Post cont.:his the following remarks : Sir William
Clay would utterly abolish the Corn-laws, in order, as he con-
ceives, always to secure low-priced food—and, by consequence,
(so runs his argument), to sustain the revenue. But it must
surely be obvious to the apprehension of most people, that by
the abolition of the Corn-laws, the harvests would, so far as the
soil of England ,is concerned, be rendered always bad, inas-
much as the attempt to grow wheat on any but the finest soils
would be immediately abandoned. The larger portion of the
wheat consumed in England (if wheat might, after the aboli-
tion of the Corn-laws, be assumed to continue the staple food
of the English people) would be brought from abroad ' • but
even then the impoverishing effsets of a bad harvest would be
felt as much row.''
MONEY—TMEIDE--COMIKETLCE.

The mill-owners and manufacturers of Yorkshire, and more
particularly those in Mr. Ferrand's own neighbourhood, viz.—
Bingley, having been accused of being guilty of the truck
system, the latter parties have signed a paper, in which they
repudiate the charge or that they pay their workpeopie in any
other than the coin of the realm.
The introduction of a tax on foreign servants is much re-
commended at the present moment. The Duke of Sutherland's
establishment consists almost entirely of foreign servants. So
also, more or less, with the majority of the English nobility.
The late Marquis of Hertford seldom or never engaged an
English domestic.
At Liverpool trade is a trifle better, and a fair business has
been done in the cotton market during the past week ; the
Yorkshire markets appear to disph: y symptoms of reviving health;
the Manchester market, however, shows little improvement.
Property in the borough of Stockport has so far decreased,
that double houses, which two or three years ago let for 2s. 6d.
and 3s. per week, are offered at 7d., clear of all rates, in order
to satisfy the chief rent, the tenant being merely required to
keep the dwelling in repair.
X.ItV., AND POLICE.

At the Coventry Assizes, on Monday, David Bevil] was con-
victed of breaking and entering the dwelling-house of Samuel
Randle, in the parish of Sow, within the county of this city,
on the 27th of September last, and stealing therefrom 80 sove-
reigns, 8 guineas, 12 crowns, a silk handkerchief, a 'silk
purse, and a box. The prisoner having pre% iGusly been con-
victed of felony, was sentenced to be transported for life.
Sophia King, a milliner's apprentice, aged 23, was tried at
Cambridge, on Monday, for stealing on the 12th of January,
a post-office packet, containing bank notes and securities of
the value of 78.5/. The Jury found her guilty, but recom-
mended her to mercy. Sentence was deferred. _

At the York Assizes Henry Wilson and John Rose were
tried fur a burglary, with violence, in the house of an old lady
at Brampton-Morthen, on the 17th October. It appeared that
they knocked her down twice, and her neck was nearly dislo-
cated. Rose was acquitted, and Wilson found Guilty. Sen-
tence of death was recorded.
The trial of Sam Gray, the sub-sheriff of Monaghan, who
had been removed by Lord Normanby, came on at the Monaghan
Assizes on Thursday last, upon the charge of shooting at James
Cunningham, with intent to murder him. 'The jurors were
locked up two nights, not being able to agree to a verdict. by
consent of Court, therefore, they were on Sal urday mornkg
discharged, and the prisoner was sent back to abide his trial at
the next assizes. It is staled that eleven of tl.e jury were fur
an acquittal.
Patrick Hogan, indicted for the wilful murder of Denis
Rougharie, wood-raw-Tr, by striking him with a hatchet, was
found guilty at the L\enagh Assizes last week of manslaughter.
William Andrews, apprentice to Messrs., Bradbury and Evans,
printers, of Blackfriars, was on Tuesday re-examined at Bow-
street, charged with stealing a quantity of Chambers'Elinburgh
Journal, and Charles Carter, keeper of a shop in Holywell-
street, Strand, for receiving the same, knowing it to be stolen.
. .

The evidence was insufficient to authorize their committal, but

they were ordered to be brought up again in a w eek.
Richard Jenkins, charged with stealing 3001.'s worth of
jewels, from the residence of M. Marsham, of Berkeley-
square, was brought up for re-examination at Marlborough-
street on Tuesday, and discharged.
SPort...ensm,

The fish in the Tweed are very plentiful this season ; and it
rarely happens that at so early a period of the year so many
clear salmon are taken with the rod.

LITERARY AND sciENTrric.

At a sale at Sotheby's last Saturday of autographs and manu-
scripts, a State document, to which was prefixed the signature
of " Marye the Queene," sold for 41., and the sign manual of
her sister " Elizabeth," a fine specimen, was disposed of for 31.

MONEY and COMMEItCIAL NEWS.

CITY, WEDNESDAY EVENING.

The funds at the latter part of the day evinced a decided im-
provement, the sales which were made, about 100,0001., having
scarcely any effect upon prices even at the time the operations
were 'being completed. Consols for money closed at 89
and 89 *, buyers, for the Account.. Exchequer Bills were nut
quite so good as in the morning, leasing off at 275. to 295.
premium.
The great feature in Foreign Stocks to-day was the meeting
of the Spanish Bondholders, for the purse of forma'ly ac-
cepting the Government proposal of capitalizing the overdue
coupons, and thereupon to furnish the' groundwork for a yeti-
tion to the Committee of the Stock Exchange to allow the new
Stock thus created a place in the official lista. The room
chosen for the occasion was of the dimensions of about 34 feet ,
by 15, which was all the accommodation provided for the re-
presentatives of about ninety millions' of money, not one-
twentieth part of whom could have been present if they would,
and a large portion of the space was occupied by parties who
are jobbers in the Stocks, but not members of the Stock Ex-
change. The grand object being to create a new source of
speculation, every speaker who appeared to differ from the
resolutions was, of course, immediately' put down, and the
propositions accordingly carried. Those gentlemen who had
experience of Spanish honour and promises were very
doubtful as to the extent of the benefit to be derived by
creditors from the conversion, though all agreed that it would
be advisable to accept the dividend, if; as Captain Bret ten
i stated, they could get in which he sincerely hoped they
would succeed. If the Stock ExChange permit these things
to be quoted, it will be completely stultified when the pro-
ceedings regarding Greek, Portuguese, and some few other
Stocks are cited as examples. Spanish were last quoted at
24ft sellers; Portuguese Five per Cents. 34* 4; the Three
per Cents. 20* ; Colombian, 25* 26*; Mexican, 41A 41*.
the price of Belgian was 103 104 ; of Brazilian, 70 to 72 ;
Dutch Two-and-a-Half per Cents., 52* j; the Five per
Cents„ 103* to 1033.
Birmingham Railway Shares left off at 85 to 87 ; Great
Western, ;26 to 27 ; the Half Shares, 13* to 14 premium;
South Western, 59 to 60; North Midland, 70 to 72; Brighton,
36 to 36* per share : South Eastern, 22* 21i ; and Eastern
Coenties, 13* 124 discount.

Some few' papers by the Oxford packet ship, from New
York, to the 4th instant, were 'delivered after business hou►s,
but which appear to be rather unimportant.
Intelligence was received at the North and South American
Coffee-house of the arrival of the Philadelphia at Portsmouth,
which left New York several days later_ than the. first.named
vessel.

(From The Sun of Last Night.)
The English Funds remain firm, although sales on private
account to some extent have taken • place; one broker alone
selling upwards of 50,0001. The rate of money has materially
altered from yesterday, being now 5 to h per cent. from day to
day, and 4to 5 per cent. for longer periods. Consols are
quoted 89a for immediate transfer, and 89% for the Account.
India Bonds 8 to 11, and Exchequer Bills, 29 to 30 premium.
The Foreign Market is quite empty, jobbers being engaged
at the Spanish meeting. No business has been done. Mex-
ican is quoted at 401 41i ; Colombian, 25 26; Peruvian,
25a 26 ; Portuguese, 20i ; and Spanish, 244.
In Railway Shares, Brighton are quoted at 361/8 ; Manches-
ter and Birmingham 28., North Midland 69 to 770; the New
Shares, 22/. 13s. 4d. ; Great North of England 87 ; Great
Western 91 to 92, with rather more inquiry.
In the Discount Market there is a Scarcity of first sort com-
mercial paper, and accommodation can be procured upon rather
easier terms.

Among other items of the proposed change in our commer-
cial policy, the propriety of imposing a duty upon the export
of coals, is beginning to be seriously doubted. Those friendly to
the measure urge that the tax will in reality be paid by the foreign
consumer, whore competition this country has reason to fear,
and that by thus vouch enhancing the cost of the production by so
much are our own manufactures protected. The oppo _ents, on
the contrary, contend that the burden will, in reality, have to
be borne by our miners, in consequence of the reduction in
price, which must necessarily be made, in order to equalize the
increased charge, in point of fact diiiding the amount of
duty between the buyer and seller. Each of these parties
overlook one very material points and it is upon this in parti-
cular, that attention is now being directed, namely, the supply
for steam navigation abroad, and the dread of competition foam
America. The West India steam boats at present form
but the first link of a mighty chain of communication,
which if properly fostered, appears likely to work an almost
complete revolution in the world generally, and affecting
this country in particular. It is intended that a line of packets.
shall ply the whole way down the west coast of South America,
and although the vessels which were sent out no run upon this
station have, unfortunately;bettn lost, the scheme is at present in
abeyance ; but as soon as others can be built, the communica-
tion will be resumed, the Governments of Chili and Peru
having given advantages too valuahle to be lightly thrown away.
In connexion with these, it is intended to have ether vessels
plying between them and New Zealand, and our Australian
Colonies, by means of which, when the passage across the isthmus
of Panama be opened, the time consumed in a voyage from
this country to the most distant of our settlements in the
Southern Ocean will not exceed forty-five days. In the im-
mediate neighbourhood of Port Phillip, large mines of excel-
lent coal have been discovered. • and which, when
the populatinn becomes larger, may be advantageously worked,
thus affording a new employment for capital, to be expended in
promoting the welfare of the place from which it is to be drawn.
No fear exists but the mines already in operation are sufficient
for the present supply of the Southern Colonies, where the ap-
plication of steam power is rapidly increasing, now that a
superabundance can be obtained for the purpose of extending
comtnercial enterprise. It is feared that the supply for
the vessels employed between this kingdom and the
eastern coast of America, if impediments be thrown
in the way, will be obliged to be drawn from the United States,
where, especially in Pennsylvania, the increased yeantity of
coal procured will seriously enter into competition ; and hence
the doubt, if it be correct, to levy one rate of duty on exports
in foreign as well as in British vessels, and without reference to
the purpose for which the coal is to be used.
Beyond the usual continental snails, there are no foreign
arrivals.

A vessel from New York is reported to be off Holybrad, but
it is doubt.ul if the intel:igence will arrive to-day ; the accounts
will be one day later.
LIVERPOOL SHARE MARKET, MA•RCII 22. —There was a
good demand to-day for Eastern Counties' Stock, but very little
inquiry for other descriptions. The prices were :—Eastern
Counties, 91. Bs. 6d., and the debentures 91.. S. 2d., both ex-
dividend, the new debentures 1/. 183. 6d. premium ; Manches-
ter and Leeds Quarter Shares, 41. 4s. 2d. to 41. ss. ; Grand
Junction, 176, and the Halves, t37P

LIVERPOOL COTTON MARKET, MARCH 42.—Was very
quiet, with a bare inquiry far all descriptions; prices, however,
were unvaried. About :3,000 bales were sold, including 300
American for expoit;2oo Surats at to 4a; 30 Bahia, 7d. ;
50 Egyptian, 7d. to 71d; and 1,720 American, at 40. to 7d.
MANCHESTER STOCK EACHA NOE, MARCH 22.—We
cannot report any improvement in our market. Our transac-
tions are confined to the following:—Liverpool and Manches-'
ters, 176; South Westerns, 59k; Manchester and Leeds Old
Shares, 804.81, cum. div. ; Ditto Quarters, 4i, corn. div.
CLOSING PRICES
BRITISH FUNDS.
India Stock
Ditto Bonds
Ditto Old Annuities
Ditto New Annuities —

Bank Stock
3 per Cent Red.
3 per Cent Cens B9a
9 per Cent Red..

New 36 per Cent
New 5 per Cent.. 996 I Ditto 5001.... 27 pm
Long Annuities Zoexpire Ditto Small 27 pm
Jan. 1860 :Bank Stock for Acct...24o*
Oct IKi9. ........ 'lndia Stock for Acct....
Jan. 1860. .... 12 7-16 Consols for Acct B9*
FOREIGN FUNDS.
Portuguese, 5 per cent.
iDitto, New Ditto
Prussian, 5 per cent.
!Russian, 5 per cent...„,
Ditto, Metallic ...... .
Spanish, 5 per cent., 24*
Ditto, Deferred....
French, 5 per cent. —l. —e.
Exchange
French, 3 per cent — . —e
Dutch, 26 per cent. 526
Ditto, 5 per cent. . 1036

Austrian, 5 pa-, cent
Belgian, 5 pei cent
Brazilian Bonds. .
Buenos Ayres 6 per coy
Chilian, 6 pet cent —
Colombian, Colombian, 6 pet cent..
Ditto, 1824—,
Danish, 3 per cent
Greek, 1825, 5 per cent —
Mexican, 5 per cent-- 41
Ditto, 6 per cent. 1637
Peruvian, 1825, fi per ct.

SHARES:.
Eastern Counties Railway (23 raid) ....
Ditto Debentures ( paid) .... ........ —lll 6s 8d
Great North of England Railway (100 pd) 87
Great Western Railway (65 paid) 92
Ditto New Shares (50 paid) ... 63A
Ditto Fifth__(4 paid)
'hton (50 nnm‘

London and 13iighton'(50 paid) , :;6
London and Croydon Railway (Trunk) 13%
Manchester and Leeds (70 pa►d) ...... ... .. 82
Manchester and Birmingham (40 paid)
North Midland Railway (100)
Ditto Thirds ( paid)

CALAMITOUS EXPLOSION OF A

STEAM BOILER-SIXTEEN LIVES LOST.

(From the Glasgow Courier,- of 'Tuesday.)—
The readers of our paper are aware that a fine fast
sailing steamer, named the Telegraph, was lately
bath for .the river trade for the purpose of competing
with the railway. She has been plying f..r some
.time
back, and being on the high pressure principle,_ has beat
the swiftest steamers in the passage to Greenock. Yester-
day, about half-past twelve o'clock, the people on the steam
boat quay, Greenock, heard a report as if a battery of
cannon had been discharged at Helensburgli (a distance
of four miles). A smoke was seen to arise, and tele-
scopes being procured, the explosion of the Telegraph
was immediately discovered. Two of the tug steamers
lying at Greenock quay, got the steam up, and sailed
for Helensburgh, to render whatever assistance they
could. On arriving at Helensburgh they found that
the Telegraph's boiler had exploded, and that the
hull of the vessel was a total wreck, and literally
floating away in pieces. At the time our informant
left it had been ascertained that thirteen had been killed
outright, but as strangers were on board, it was impos-
sible to arrive at a true statement of the casualties. A
number of individuals were seriously wounded, some of
whom are not expected to recover, and among the latter
we are sorry to say is Captain Eving, late of the Kilmun
steamer. who was just alive when our despatches v ere
sent off.; It appears that the passengers for Helensburgh
had all landed, and that the boat was about to proceed on.
her passage up the Gairloch when ,the explosion took
place. Something connected with the management of
the valves is supposed to have caused the accident. We
have heard that four of the dead belong to Glasgow,
and formed part of a company of eight painters, who hitd
gone down to paint the Precursor steamer, at present
lying in the Gairloch. Mr. Hedderwick, of the late firm
of Hedderwick and Ranken, shipbuilders, is dead.
Since the above was put in type, an acquaintance has
furnished us with a few additional particulars in rela-
tion to this most appalling catastrophe. It is im-
possible adequately to describe the scene at the moment
the explosion occurred. The vessel itself burst like a
bomb shell, and momentarily became a total wreck—So
much so, that not a single part of the Vessel remained to-
gether afloat. In every direction could be observed, scat-
tered about, the mutilated limbs of the unfortunate pas-
sengers, and the water was literally tinged with their
blood. The boiler in the explosion was blown com-
phtely ashore, so as to convey to the spectator the idea
of the disappearance of the steamer altogether. When
our informant left, he saw fifteen bodies iu the Tontine
Hotel, Helensburgh, which he recognised. Two of the
painters' bodies had not been recovered. At half• past
four, th_l steamer Royal Tar sailed from . Helensburgh
with a number of the wounded on board. Of these six
were landed at Greenock, where the Provost bad a num-
ber of biers ready to remove the sufferers that arrived to
the infirmary. Two of the painters mentioned above,
who were not so severely wounded as the rest, proceeded
to Glasgow in the steamer, as well as a lady and gentle-
man, who were slightly wounded while standing upon
Helensburgh Quay, witnessing the departure of the e
le-
graph.
fright-(From the Second Edition of the Glasgow Chronicle.)
This, we regret to say, has been one of the most

—. • -
ful catastrophes- wo-hare ever been called upon to record,
The vessel. itself, wo learn, •is literally shivered into
spars, and the force of the explosion was so tremendous.
that the engine was blown to a distance of twenty yar4.l.
The dead bodies present a shocking spectacle, one ei
them being completely decapitated, and others so dread-
fully bruised and burned, that they hardly present one •
vestige of humanity.
The list of the killed and wounded, so far as can yet
be ascertained, is as follows :•-•-•
Killed—Captain Ewing, of the Telegraph ; W. Ban-
Killed—Captain engineer of ditto ; Mr.. Hedderwick,, of the
firm of Hedderwick and Rankine ; Mrs. Dow, a
Greenock ; Miss Keith, sister to Mrs. D°l/ ; •
John M,Diarmid, pilot ; M‘Nair .Robert:
tNelr',AuGslortyna,nor,
poeftetrhemctrint;ocßkobaturdt Cadenhead, carpen-
painters—bodies not found ; Daniel TShirchaiisr, A.fireteeell;
a pilot, name unknown ; two men, supposed be taik?rs
—names not known ; James Johnston, late of the IV
terloo House, Greenock ; another man, i:aine not knoo!.
Wounded—Mrs. Keith, Greenock, much hurt, kull
able to walk, mother of the two ladies killed Jo'L
M'Neil, bruised ; Richard Anderson, foreman !v;
Hedderwick and Rankine, dangerously .woundect,ss
James Stenhouse, carpenter, severely wounded ; ,
M'Kellor, Greenock, hurt, but not denge'us
Charles M'Quarrey, painter, badly wounded ;
Leek, do., leg broke in two places, and utherS`tii ;•
hurt ; Dug.akr Cameron, deck hand, slightly Iv
se o" 8,1).
Duncan Kennedy, do. ; Lauchlan Cameron, lte,
wounded. This list, although not altogether comp
contains nearly the whole of the casualties.
•

ELECTION COMMI TEE s•
GREAT MARLOW.
The Commit tee met again yesterday morning at electchle'Fart
The proceedings commenced by an application 10110.0 s
of Mr. Sergeant Merewether, to be allowed to Tig., jailor
statement which he had made on the preceding evel!,!"ot dial°
diately before the rising of the Committee, to the el! vote of a
did not intend to proceed with his objection to Counsel 'gait!
supporter of the sitting Member. The Learned soloty be
that he bad been induced to make that statef2eut' gister..
cause he had been misled by an incorrect copy thLliettee itt/.
After some oiscussion among Counsel, the Lm-n-voiht
be
mediately decided that the objection to the r°,te,rh,t, the •°C7
again proceeded with. It was accordingly agreed
the
jection should be taken on a future day. to b).-
The vote of Edward Newell was then objected tote,'
Counsel for the petitioners, cn the ground of Want °
tion and non-payment of rates.'to pees!
. The vote was not decidedon at the hour of our go- „aro'
John Smith, one of the overseers of the parish, .IS-e700:1°,
duced a printed copy of the list of objections, birlAissi.lls,,-
objected to its production, on the ground that the v".-o.bee-
should be produced, or that it should be proved to hie.
• thai
destroyed. je Jed'
After a long argument among Counsel, it was --el •
the duplicate copy was
then re sufficient. ote
John Smith was called, and stated that the 0 velar
discussion before the Committee, had been objected the
coul
the Revising Barrister, but that he had decided that slily.
to
not entertain the objection in consequence of an infut-
'
serving it. cou'd
ab
CocKuun ow
contended that the Committee d tiv3
not enter into the objection, for the same reason ; rising,
of
guments upon this point were not concluded at the
the Committee. •