The Sun.
London, England, 1842-05-30 00:00:00

AMERICAN NEWS

A RIZIVAL OP THE CALEDONIA.

T.,IVERPOOL, Srsn.t.v EVENING.
'The stonin-hip, Caledonia Captain Lott, arrived Itt•re
frail iluli , o- a •.. at no+l t d• v tit). the rim from
-
pilot to pi!: in ton days, bringing fifty-seven passengers.
'Tliciit•ws by this arrival, ext.•nds .over a fortnight,
but it is more than usually barren of• interest. Mr.
Webster: had addressed a communicatb t to the clo-
v,.rnors of Maine. and •, Massachusetts, relative to the
mission of Lord..Ashburton,..for 'the settlement of the
boundary question. He urges the necessity of having
that oft mooted question . brought to a close durityr the
present sitting of CongreSs. The Governor of Maine
had, accordingly, issued a proclamation, convening that
state legislature for the 18th inst. It is gratifying !o
obsetWe
_the altered and more friendly tone of the Ame-
rican papers on this and other subjects at issue with
this country, The missipn of bind Ashburton has
evidently flattered the pride of the Americans, and may
be regarded as having poured oil on the troubled waters.
Nothing decisive has taken place between the. Mexi-
cans and Texitins, bitt bath were'preparing for a furious
encounter. Santft• Annii,lfrthe'NeW York papers are to
be credited, had been raising tii ..s'itieWs of.. war with a
vengeance, having obtained a loan of nolessAhan three
:nillions sterling in London, guaranteed by the BOA
Government, the condition, being that British mantif,-,e
.Eured goods should be admitted into the Mexican ports
at a merely nominal duty. If this heavy loan had t•x-
isted any where but in the imagination of the American
editors, Santa Anna's chance of successfully opposing
the Tekians would have been materially strengthened.
Mr. Dickens (Boz) and hig lady had taken_ their pas
sage for Liverpool in the packet-ship, George Washing-
ton, which would sail on the 14th ofJune.
Nothing of consequence had occurred within the walls
of Congress, but duels were on the tads outside. Two
reports had been presented relative to the tariff—one
from the Secretary of the Treasury, the other from the
minority of the Committee of manufacturers.
The Exchange on England was 1081 to 108:1. Money
plenty, but from bills offering on England.

LETTER FROM THE SECRETARY OF STATE TO
THE GOVERNORS OF MASSACHUSETTS AND
MAINE.

Department of State, Washington, April 11.
TO HIS EXCELLENCY JOHN FAIRFIELD, GOVER NOR OF MAINE.
Your Excellency is aware that previous to March, 1841, a
negotiation had been going on for some time between the
Secretary of State of the United States, under the direction of
the President, and the British Minister accredited to this Go-
vernment, having for its object. the creation of a joint commis-
sion for settling the controversy respecting the north-eastern
boundary of the United States, with a provision for an ultimate
reference for arbitrators, to be appointed by some of the Sove-
reigns of Europe, in can an arbitration should' become neces-
sary. On the leading features of a Convention for this purpose
the two Governments were agreed, but on severarmatters of
detail the parties differed, and appear to have been interchang-
ing. their respective views and opinions,
projects and counter-
projects, without coming to a.final arrangement, down to Aug.,
1840. Various causes, not now necessary to be explained, ar-
rested the progress of the negotiation at that time, and no
considerable advance has been since made in it.
It seems to have been understood, on both sides, that one
arbitration having failed, it was the duty of the two parties
to procee I to institute another, according to the spirit of the
treaty of Ghent, and other treaties; and the President has felt
it to be his duty, unless some new course should be proposed,
'o cause the negotiation to be resumed, and pressed to its con •
elusion. But I have now to inform your Excellency that Lord
Ashburton, a Minister Plenipotentiary Special, has arrived at
the seat of Government of the United States, charged with full
powers from the Sovereign to negotiate
.and settle the different
matters in discussion between the two Governments. I have
urther to state to you, that he has officially announced to this
department that in regard to the boundary question, he bye
authority to treat for a conventional line, or line by agreement,
'on such terms and conditions, and with such mutual considera-
ions and equivalents, as may be thought just and equitable;
and that he is ready to enter upon a negotiation for such con-
ventional line so soon as this Government shall say that is isll
Authorised and ready, on its part, to commence such negotiation.
Under these circumstances, the President has felt it to be
his duty to call the serious attentiumof the Governments of
Maine and. Massachusetts to the subject, and to submit to
those Governments the propriety of their co-operation, to a
certain extent and in a certain form, in an endeavour to ter-
minate a controversy already of so long duration, and whitth
seeins very likely to be still considerably further protracted
before the desired end of a final adjustment shall be attained,
unless a shorter course of arriving at that end be adopted, than
such as has heretofore been pursued, and as the two Govern-
ments are still pursuing.
Yet, without the concurrence of the two States whose rights
ire more immediately concerned, both having an interest in
the so 1, and one of them in the jurisdiction and government,
the duty of this Government will be to adopt no new course,
but, in in m?liance with treaty stipulations, and in furtherance
tf what has already been done, to hasten the pending negotia-
tions as fast as possible.
But the President thinks it a highly-desirable object to pre-
vent the delays necessarily incident to any settlement of the
question by these means. Such delays are great and unavoid-
able. It has been found that an exploration and examination •
if the seve!ul lines constitute a work of three years. The i
existing commission for making such exploration, under the
authority of the United States, has been occupying two sum-
mers, and a very considerable portion of the work still remains
to be done. if a joint commission should be appointed, and
,hould go through the same work, anti the Commissioners
should disagree—as is very possible—and an arbitration on that
weount becoine indispensable, the arbitrators might find it
necessary to make an exploration, and survey theinsel:es, or
cause the saute to be done by others, of their own appoint-
bent. If to these causes, operating to postpone the final de-
cision, be added the time n, cessary to appoint arbitrators, and
and for their prevaration to leave Europe for the service, and
the various retarding incidents always attending such opera-
tion., seven or eight years constitute, perhaps, the shortest pe-
riod within which we can look for a final result. In the
mevntime, great expenses have been incurred, and further cx
penises cannot be avtiided. It is well known that the contro-
versy has brought heavy charges upon Maine herself, to the
remuneration or proper settlement of which she cannot be ex-
pected to lie indifferent.

The exploration by the Government of the United Stites
has already cost 100,000 dollars, and the charge of another
summer's work is in progress. These facts may be sufficient
to form a probable estim ate of the whole expense likely to he
incurred before the controversy can be settled by arbitration,
and our experience admonishes us that even another arbitra-
tion might possibly fail.
The opinion of this Government upon the justice and va-
lidity of the American claim has been expressed, at so many
imes, and in so many forms, that a repetition of that opinion
is not necessary. But the subject is a subject in dispute. The
Government has agreed to make it matter of re,crence and
arbitration, and it must fulfil that agreement, unless another
mode for settling the controversy should be resorted to with
the hope of producing a speedier decision. The President pro-
poses, then, that the Governments of Maine and Massachusetts
should severally appoint a Commissioner or Commissioners,
ernpowered to confer with the authorities of this Government
upan a conventional line, or line by agreement, with its terms,
conditions, considerations, and equivalents, with an ;under-
standing that no such line will be agreed upon, without the
assent of such Commissioners. This mode of proceeding, or
some other which shall express assent beforehand, seems in-
dispensable, if any negotiation for a conventional line is to be
had, since, if happily a Treaty should be the result of the ne-
gotiation, it can only be submitted to the Senate of the United
States for ratification.

It is a subject of deep and sincere regret to the President that
the British Plenipotentiary did not arrive in the country, and
make knowb his powers in time to have made this communica-
tion before the annual session of the Legislatures of the two
States had been brought to a close. He perceives and laments
the inconvenience which may be experienced from re-assemb-
ling those Legislatures; but the British mission is a special
‘eie ; it does not supersede the resident mission of the British
Government at Washington, and its stay in the United States is
not expected to be long. In addition to these considerations, it
is to be suggested that more than four months of the session of
Congress have already passed, and it is highly desirable, if any
treaty for a conventional line should be agreed on, it, should be
concluded before the session shall terminate ; not only because
of the necessity of the ratification of the Senate, but also be-
cause it is not impossible that measures may be thought ad-
visable, or become important, which can only be accomplished
by the authority of both Houses.
These considerations, in addition to the importance of the
subject, and a firm conviction in the mind of the President that
the interests of both countries, as well as the interests of the
two states more immediately concerned, require a prompt effort
to bring this dispute to an end, constrain him to express an
earnest hope that your ExcAlency will convene the Legislature
f Maine, and submit the subject to its grave and candid de-
liberation. I am, with great respect, your Excellency's obe-
dient servant, _

(Signed) DANIEL WEBSTER.

The following is the proclamation of Governor Fairfield,
calling a special session of the Legislature of the State of Maine
for the ISila inst. : '
"STATE OF MAINE.
" BY TILE GOVERNOR OF THE STATE OF MAINE.
" A PROCLAMATION.

" Deeming the pres nt posture of the question relating to the
northeastern boundary of this State and the matters connected
therewith, to form one of those 'extraordinary occasions' con-
templated in the Constitution, for convening the Legislature.
I do, by these presents, appoint Wednesday, the ISth day of
May next, for their meeting, at the State House in Augusta,
hereby requiring the respective senators and representatives
then Legislature,i in order to receive
such andm hmeurreico
n assemble a
s miany
then be
made to them, and to
consult and determine on such measures as they may consider
cot
will best promote the welfare of this State and nation.
"In testirro,ny whereof, I have caused the seal of State to
be hereunto affixed, and signed the same with my hand.
"Done at Augusta this 29th day of April, in the year of our
Lord 1842, and in the 66th year of the independence of the
United Statei.. " JOHN FAIRFIELD.
" By the Governor, Philip C. Johnson,
Secretary of State."
.NEW YORK MONEY NDl4th COMMERCIAL NEWS,
MAAY, .

_ •
•
The demand for money is more limited, and that which exists
is readily supplied. The banks discount quite freely, and in
.the street, first class,paper can be negotiated at legal interest.
A; the summer advances, we ;.re of opinion that
money will
grow more abundant. In Philadelphia it is more difficult to
. We quote on
an ,se; Firemen 76c.
Some im rovement is manifest in our quotations of domestic
London 108/, Paris sf. :30,
be obtained, and several mercantile failures have been reported.
• • Fneeign exchanges are in fair demand, and the supply of
'billcisAtioderate. It is thought the inquiry will fall off after
the steamer has left, as the spring business may be considered
prettyAm steurdi much over:
309 a
vier;
39i,
Hamburg .)
exchanges. The business is, however, quite limited, if we ex-
cept the notes of this state and the eastern states, in both of
p
which quite a large amount is offering. The weak banks are gra-
dually disappearing, and we confess
~we shall be glad when the
financial atmosphere is pui WO wholly from every banking
institution nc:t able and williv to :pay.specie for its obligations
on presentation. So far as we cla Judge, the fallacious idea
about •, preparing to resUine, ,but not resuming" are nearly
dissipated, atid all classes of the:community are convinced that
the only correct policy, the only one that will !ully restore
us to prosperity, is to preserve a sound currency, crediting
only those institutions which pay in specie,
and discrediting
all others.
'I he transactions in Stocks have been quite limited during
the. presein week. Prices of solid Stocks generally have been
maintained, and in some descriptions a small improvement has
been realised. In fancy Stocks the Illarket has been somewhat
depressed, and closes at prices lower than our last quotations.
The impression which was quite prevalent a few days since
on the subject of the negotiation of the Government loan, is now
• believed to have been unfounded, and it is stated that offers at
par have been received for only a small portion. We still en-
tertain no doubt of its negotiation within a short time, and we
think we cannot be mistaken in our estimate of the favourable