The Sun.
London, England, 1842-02-04 00:00:00

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out by parihment
the manufacturing
can afford -sake), to.
vulsions and panics in
mends on her s ' the Nothing short of a moderate fixed duty
eeßank of England against sudden de-
intettrulta, and until that object be attained
violent contractions in the
tretszoust be exposed to sudden con-
distress.
Money Market, accompanied with
produce general insolvency
andnational currency, which depress prices and
It is Impossible /to obtain a
steely
While supply t
n tduhfui duty yo
countryr fle iug Tlc
t corn
t fluctuates
under any fluctuating scale of duty.
no foreign merchant can send corn for Jude
exchange for British goods; because, although he can
what the cost of the goods will be, he cannot know houwacert much
corn will be taken for it. Any calculations which he can
snake are subjected to the influence of a varying duty, which
renders all his attempts to bring the transaction to a certain
result impossible.
TDIES.—The Speech from the Throne bas had no very
• material effect on the public securities, but the efiket, such as
it was,"was rather favourable than otheritise. The renommen-
dation that the laws relaiing to imports should be reconsklered
is thought to augur well for the coma.ercial interests of tl,se
country, now that the Government is in the hands of those in
whom a general confidence is felt. It is evident, likewise,
!that &permanent revenue is contemplated for equalizing the
income of the country with the expenditure, and as that is
opposed to the notion of any fresh creation of stock, it naturally
tends to produce a firmness in the public securities, especially
Asthere is no corroboration of the report concerning an income-
tax .in the Speech.
Under these circumstances,lhe Consul market has remained
steady throughout the day, being moreover sustained by the
arrival ofletteryrices from Paris, and a few purchases in the
early part of businesis.
SUN.,..The news • from.. America to-day has created souse
sensation here, the Money Market of America being in danger
of abother convulsion, by the expected repeal of the Bankrupt
Law. Before this Bill passed, there were many and well-
founded objections to it, such as the unsettling of the rela-
tions between debtor and creditor, the serious lasses that
would be entailed upon the latter, and the distrust that might
ensue ; but now since the Bill has become a law for sometime,
the consequences of its repeal may be as immediately embar-
rassing as were those of its enactment. Probably it is con-
sidered by the Legislature to have already relieved those who
really cannot discharge their debts, and by having merely a
a prospective operation, will not screen such as have the means
to' meet their liabilities.

The Funds closed rather better this afternoon, the construc-
tion put upon the Queen's Speech, as indicating something
like a returu to 2eason and concession on the part of Sir Ro-
-I)ert Peel's Administration, being rather favourable. Consols
closed at 89 to for present transfer, and 89* Li for Account.
g;ehequer Bills improved to Ns. and 19s. premium. 'the
heavy stocks were steady. Bank and India Stocks were ra-
ther
The Forggrk Securities were rather dull. Brazil Stuck 4ell
to 621/2, owing to the unfavourable news from Paraiba. Weil •
can Bonds continued good. Spanish were flat at 24N to 1/2.
Shares were a little steadier.