The Sun.
London, England, 1842-03-31 00:00:00

MONEY MARKET and CITY NEWS

FRODI THE MORNING -TAPIRS OF THIS DAY.
TIMES.—It has been remarked as a proof of the in-
creasing activity of business that the discount-houses
have had a larger supply of bills than is usually the case
at this period of the year. Foreign bills also are said to
have been in greater abundance on 'Change during the
last few weeks than for some years past.
The opinion alluded to yesterday that the modification
of the timber duties would be rather a benefit than
otherwise to the timber growers of British North Ame-
rica, has been contradicted with some warmth by the
Canadian merchants, who consider themselves greatly
inured by the proposed measure, and that, far from
being able to pocket the difference between the two
rates of duty, they will not be able to compete with
the Baltic dealers without sustaining a loss. To
prove this assertion, the case is cited of two loads
of red pine, one from Canada; the other from Nor •
way, the former having, under the present system,
paid lls. Gd., and the latter 2L 425. 6d., and both being
offered for sale, the Canadian at 41. 155., and the Baltic
at 51., the difference in the price, of the latter being ac-
counted for by' the superiority of _the-article, or, as the
Canadian merchants themselves would say, the prejudice
of the public. Now, the duty on the Canadian timber
would by the proposedl measure be reduced to the extent
of 10s. 641., and that on the Norwegian to the extent of
IL 6s. 6d., so that the latter could be offered at 31. 13s. 6d.,
while the former could not be sold for less that 4/. 4s. 6d.
Thus, it is observed by the Canadian merchants, the in-
terests of the colony are not at all considered, since far
from any advantage being given to it, the superior
foreign article can be sold at a lower rate than the in-
ferior colonial one. These opinions are much at variance
with those noticed yesterday ; but it must be remembered
that all views on such subjects proceed from sources
more or less interested, and that it is only by the com-
parison of one with the other that the real state of the
case can be elicited.
SUN.—The prices of the funds continue good, although
the sales are but to a small extent. For some years past
the business has not been so 'frilling as it has been
during the last few weeks. The quOtation for Consols
at the close of business to-day were 89t l for money,
aad 89/ buyers for the Account. Exchequer Bills 28 to
30 premium.
This has been the day for settling the account in the
foreign stocks, which has hitherto passed off quietly. It
has been a bare account, and the opposite party, taking
advantage of it, have endeavoured to raise the quotations,
but unsuccessfully. Dealings have been almost ex-
clusively confined to the jobbers among themselves, the
public evincing a growing aversion to, speculating in
these securities.
To-morrow being the time for paying the differences,
money, which has been exceedingly tight, was worth
fully 5 per cent. at the latter part of the day. The rate
for the continuation of the Account, was equal to about
15 per cent. per annum. The price of Belgian was 103
104 ; Brazilian, 69 70 ; Danish, 811 821 ; of the Dutch
Two-and-a-Half per Cents., 52 52f ; the Five per
Cents., 1021 103 ; The quotations for the Portuguese
Five per Cents. was 34:1 351 ; for the Three per
Cents., 201 21 ; Columbia, 26k i ; Mexican, 424 i ; and
Spanish, 241 il.
The settlement in the Shares has also taken place to-
day, but the fluctuations in prices has been so small, as
to render it a matter of great facility. Birmingham left
off at 84 86 ; Great Western, 26 27 ; the New Shares,
131 'l4 prem. ; Birmingham lind"Gloucester, 56 58`;
South Western, 59 60 ; Gosport, 59 60 ; North Mid-
land, 69 70, the New Shares, 34 35 ; and Brighton,
35i 36/ per share. South Eastern and Dover, 22122# ;
and Eastern Counties 131 121 discount.
There have been no foreign arrivals, but the intelli-
gence from the Havannaht which was in the money
article of Tie Sun last evening, has created some sensa-
tion. It is much to be feared that the ill feeling which
appears to exist among the Spaniards in South Ame-
rica, and their dislike to any improvenaent or innovation
upon old customs, may lead to an unpleasant result,
tending to interrupt the course of our trade in that
quarter.

The Lincoln cQunty meeting is to be held on Mon
day, April 4.

GERMAN CORRESPONDENCE.
ENGLAND AND BRAZIL.—In the present year of 1842,
the treaty of commerce between England and Brazil ex- '
pires, according to the interpretation of the latter, which
gave notice two years ago of this expiry, and of its disin-
clination to renew the treaty. England, on the other hand,
requires its continuance for two years more, considering
the term of notice as something different from the term
of duration of the treaty of commerce and from which
the said two years are not to be deducted. It might be
difficult to understand the importance and the possible con -
sequences of this difference between the two countries,
without throwing a retrospective look on the history of
Brazil, and taking a clear review of its present situation.
Although Brazil did not enjoy a better administration
than the Spanish colonies, that is, it was impoverished
in every feasible manner, and kept back as much as
could be from any development that might give it
strength of its own—yet Brazil, by its unmeasurable na-
tural richness, soon became a rich country.
When Don John landed there in 1808, with all his
Court retinue, the only circulating medium was gold and
silver, and copper—coin so scarce, that it was quite in-
sufficient for the necessities of the lower classes, and at
a very high premium.
With the Court a new element was imported—a Court
with great wants, and what was worse, fiscal eyes,
which from Lisbon had not' been able to discern
well the resources of the land. The-consequences were
soon visible. The silver coin was deteriorated by 20
per cent, and the gold, which thus received an unnatural,
much above its intrinsic value, left the country. An im-
mense copper coinage was then resorted to, and as this
invited an enormous introduction of false coin, a paper
circulating medium was finally adopted.
In the short time of 14 years Brazilwas impoverished,
and on the return of Don John to Portugal in 1822,
gold and silver had entirely vanished from circulation,
being replaced by copper and paper, and the exchange
had fallen from 84 to 47.
It can therefore not be said that Don Pedro entered
upon the Government of Brazil under very favourable
ctrctimstances. Dilapidation and confusion existed then
already and were still increased by the war with Portu-
gal; and later by that with Buenos Ayres.
Brazil was bent upon attaining its independence at any
sacrifice, and one of them al as a 1 an made in 1834, c f
3,000,0001., to which an addition of 1,400,0001. was after-
wards made for the Portuguese loan. Thus Brazil at
once became a prey to tie European capitalists. In the
year 1827, the tret ty t f commerce with England was
r'oncluded, the worst stipulation of which was that
Brazil was bound down not to levy a higher duty than 15
per cent. on any British goods imported. Now there was no
reciprocity on the side of England, for on some of the
principal articles of exportation from Brazil England
exacted as high a duty as 200 per cent. Then Brazil
had its hands bound also with respect to other foreign
nations, for though for the purpose of raising aeater
gr
revenue it exacted from them a higher duty, (24 per
cent.) yet this served only to secure the trade to the
English, and to expel all foreign goods from the market.
Thus one of the chief sources of revenue was diminished;
for under these circumstances Brasil could not levy ge-
nerally more than an import duty of 15 per cent., be the
goods whatever they were, or whatever their origin ;
and this was the reason why in subsequent treaties with
foreign countries this difference was necessarily waived.
In 1831 the Convention for the Cessation of the Slave
Trade took effect, and by this again Brazil was a con-
siderable loser in its revenue, because previously it had
been in the receipt of considerable custom-dues not only
for Africans imported, but also for the goods exported
to purchase or barter for them. It is quite true that now
there is exacted a rather high exportation duty for all
goods going to Africa (we believe 25 per cent.), but
this measure is quite circumvented by the shipment of
the goods required for this traffic to Monte Video, and
thence to the coast of Africa, or by their being alto-
gether smuggled out of port.
'The Brazilians think that they cannot as yet dispense
with the importation of blacks, for labour is scarce, and
the land fertile and without value, because it has been
granted in excessive portions, and no solid means to
attract free immigration have as yet been adopted by
the Legislature. Africans are therefore still smuggled
into the country, and so great is their value, that if one
cargo out of four is brought home, the speculation is a
most profitable one.
The number of negroes imported since 1830 is com-
puted at 300,000, besides about 4,000 prize negroes
which have been put at the disposal of the Brazilian Go-
vernment, to serve an apprenticeship of seven years,
after which they are to be free. The interdiction by law
of the slave trade on one side, and the great call for
slave labour as long as no solid measures for immigra-
tion are adopted on the other, produces moreover a dan-
gerous moral evil, since most of the public functionaries
are obliged to connive at it. In the above there
are briefly contained the main causes which operate
against the welfare and due development of Brazil, and
now let us look at results
The financial position of Brazil is stated in a few
words, by first, an annual deficit of from 500,0001. to
600,0001., or from 1-4th to 1-sth of the amount of reve-
nue ; secondly, the Exchange between Brazil and Eng-
land has receaed from 55 to 28 to 30 de., and in con-
sequence, the interest payable by Brazil to the British
capitalist costs it now twice as much as formerly, and
the British goods consumed by Brazil require for their
payment twice as much of the present money as
in former times. But everything has its limits.
If things are to go on as heretofore, and that the English
continue to sell to the Brazilians, without admitting their
produce in return, these will not be able to pay much
longer. Merchants well conversant with Brazil compute
the outstanding debts due to British merchants and capi-
talists at fourteen millions sterling, of which six millions
are State bonds or loans. Thus far, therefore, the posi-
tion of Brazil, as regards future negotiation, is not dis-
-advantageous, since it is to the evident advantage of
England to grant Brazil more equitable conditions. It
would be unjust to assert that England had caused this
state of things, or that it even contributed towards it ;
but certain it is, that the treaties Brazil entered into
with England, in its impatience to have its independence
secured, have increased the financial derangements en-
tailed upon it by the above-mentioned causes, and pre-
vented it from recoverin itself, which, with its immense
resources, would be an 'easy task under a judicious and
holiest Government, comprehending the position of that
country, and its own obligations.
According to report, the diplomatic negotiations be-
tween the two countries are actively proceeding. Brazil
has, nevertheless, from these circumstances, some reason
for complaints :-
Ist. The treaty of commerce, which confines Brazilian
commerce, and prevents Government increasing its im-
port duties, if so thinking fit.
2d. The conduct of the British crusiers, who are said
to have taken Brazilian vessels suspected of slave-trade
all but under the walls of the Brazilian fortresses, thus
offending national independence, and frequently ex-
posing the Government to losing its influence with the
nation.

On the other hand also, England gives these reasons
for complaints :—lt says, the stipulations for the sup-
pression of the slave-trade made in 1831, have by no
means as yet been complied with in Brazil, the traffic
being still carried on actively, and in many instances
with the connivance of the local authorities and what
is worse, the prize negroes who, according to the con-
vention, were to be apprentices only for seven years, and
afterwards free, have as yet been retained like actual
slaves, and in many cases with evident connivance of the
authorities.

....Nor is an explanation or excuse for Brazil difficult to
find.

A constitutional Government is an excellent thing

where the Government is in the wrong ; but who is to
assist Government when the wrong is all on the side of
the Chambers and the public ? It is even said that some
members of the Legislature are at least indirectly inte-
rested in the trade themselves, which is natural enough,
as they are agriculturists, or were returned by agricul-
turists.
What then can a Ministry do in this case ? If it
opposes public opinion too much on this score it must
resign, as has happened in one or two cases. All cry
out, where are we to get labour from to collect the
fruits of our soil, when once the trade ceases altogether?
The British Mining Companies are all large slave pro-
prietors.

On the other hand, it is a dubious point whether Bra-
zil would be actually a loser, if it were to give up alto-
gether that forced production of sugar at least, which it
would appear the circumstances of the climate permit to
be performed only by negroes.
Brazil is not a country, it is a continent, and this con-
tinent, which is almost equal in extent to all Europe,
was peopled in 1835 by only 4,500,000 people, blacks
and Indians included, a population which at this mo-
ment will scarcely amount to 5,000,000.
Brazil wants above all a well regulated commerce, and
more particularly a better use of its inland navigation.
Let us mention here merely that proud river Amazons,
with its innumerable mighty tributaries, entirely neg-
lected.

The foundation of such a traffic by improvements in
such of the rivers as may require them would call into
activity a large population now almost unavailable, for
even the Indians would bring to market such produce as
rosewood and many valuable drugs, which abound in the
forests. The only condition for realising such results,
would be a well-regulated and secure state of the interior.
Though the Province of Rio Grande, which abounds
in tallow, hides, and hemp, all so necessary to British
commerce, does as yet continue in a partial state of re-
bellion ; nevertheless the general state of insecurity over
the rest of the empire has been much exaggerated.
The chief defect under which Brazil appears to labour
seems to be of a political nature, that is, a want of a
proper system of administration for so thin and dis-
persed a population. Indeed, Brazil appears to be cut
out to form the Roman Catholic empire of America.
But this is a deviation from our present purpose, which,
however, might become extremely interesting to Ger-
many should the marriages now under consideration be-
tween certain German reigning families and the Imperial
House of Braganza be brought about.
Brazil, to right itself, should be able to raise a loan of
six or seven millions, and in this the assistance of Eng-
land might be of great advantage. Brazil, from its im-
mense extent, is also exposed to aggression from without,
.
and to separation from within ; and in this respect it
would appear that it cou'd not find a better protection
and guarantee than in England. It would appear, also,
that all Brazil can offer to the British nation, is to put it
on the footing of the most favoured nation. England,
in exchange, might possibly stipulate that Brazil should
agree to fix period after which slavery shall altogether
cease within its limits, though these were for a genera.
tion. It appears rather problematic how Brazil should
maintain its integrity, or protect itself effectively against
foreign aggression, for any long period, without the
alliance of England.
Should these points have all been settled, and peace
and quietness prevail throughout the Empire, then that
country may offer a favourable field for German enter-
prise and emigration, but not before, for the prospect of
ione olr merePrazilian.,Frincesses being married to scions

of German houses, and thus, under the above by no means
unattainable conditions, an impulse be given to German
emigration to Brazil has almost vanished, if it be true
that these Princesses are about to be betrothed to two
Italian Princes.—Allgemeine Zeitung.

GREAT NORTH OF ENGLAND RAILWAY.
Traffic returns for the week ending March 26, 1842:
Passengers
Merchandise 344 12 10

Darlington, March 30.

.i.;;067 0 4
W. O'BRIEN, Secretary.

DR. REID'S LECTURES ON
CHEMISTRY.

The subject of respiration opened Dr. Reid's fourth
lecture at Exeter-hall last night. The learned lecturer
commenced by remarking that the supply of air to the
lungs was comparable to food, it was, in truth, aerial
food. The powers of inhalation varied in different per-
sons, according to their differential conformation in chest
or structure ; but the great change produced by the
action of respiration, consisted in the disappearance of
the pure oxygen, which was the chief component of
breath, and its replacement by carbonic acid gas ; so.
that the oxygen, in the process, abated from its original
pure subsistence of 20 parts to 14, while the residue be-
came resolved into carbonic acid gas. No precise stand-
ard, however, was fixable, as to the exact influencepf the
air in this point of view. A sanguineous system, with
its vessels and vitality in full play, demanded more oxy-
gen than any other ; while as a minimum,
in the other respect, miners might be instanced, who
have thc power of subsisting in an atmosphere in which
a lamp burns, but in which a candle is extinguished.
The healthiness of the millions in daily life finds its
foundation...hourly sapped, and progressing perchance for
years in gradual ruin, solely from the noxiousness of the
air inbreathed. The discovery of this evil 'has been one
of the great master-pieces of modern chemistry : the
impure and febrile atmosphere has yielded salutary and
efficacious developments to Doctors Caius, Arnott, Sir
James Clark, and other eminent men ; while one of the
profession had declared, so impressed was he with the
strange weight of the conviction, that the majority of
mankind spend half their lives in a vitiated and corrupt
at nosphere. From computations made as to the quan-
tity cf carbon consumed by 150,000 people, it appeared
that 22 tons was about a correct estimate, which was.
resolvable into 80 tons of carbonic acid gas : the
whole of London, computed at its present popu-
lation, he found to consume 220 tons.a daily, pro-
ductive of about 800 tons of carbonic acid ; while
the whole world imbibed about 500,000 tons. Pure
air was powerful towards producibility of strength:
singular instances illustrative of this have appeared in
the manufacturing districts, in those buildings where
ventilation has been adopted : the men have struck and
refused to work at their old wages, stating it an impos-
silAity to support their appetites, edged and increased
by the circulation ,of pure air, upon the same diet on
which they fed when living in an atmosphere impure.
Dr. Reid next proceeded to dilate more strictly upon
impurities in air, consisting of carbon as above, sulphur
in variforin appearances, and a variety of matters me-
chanically suspended in its body. One of the coni-
moneat of these was in the case of impure sand ; a spe-
cimen of which the lecturer exhibited, which had been
carried on the deck of a ship about 800 miles distant
from the African coast. Soot was, in London, an uni-
versally impure pervader of the air ; frequently
he had counted, with the bare eye, no less
than 4,000 pieces upon a square foot, and mi-
•seroscopie appliance would have multiplied them still
more ; at other times, so thickly had they cumulated,
that ho had seen the whole surface of the ground co-
vered with a thin pellicle or black film, formed by their
congregated particles. A satisfactory experiment for
the discovery of impure air in a chamber was simply
performable thus:—a spoonful of lime should be injected
into a beer bottle with water, and being placed in a
room where suspicion attached to the quality of the at-
mosphere, the presence of impurity would be tested by
the appearance on the surface of a white and copious in-
crustation ; this is the best practical test at present
known... The lecturer stated that he had frequently hall
impure air of all kinds transmitted to him to Edinburgh
from London, and had detected the presence of this white
opake matter in different measures according to the
grossness or feculence of the specimen : that of va-
rious churches he had also tested, and a friend was
able almost to pronounce upon the identical church
from which the air was transmitted. according
to the proportion of its impurity. Dr. Reid closed
his lecture in opening up the subject of combus-
tion. He expatiated upon the three several species of
this chemical power, viz , that of detonation, or combus-
tion in its most active form ; deflagration, being of a
more imperfect nature, the explosive particles not being
so closely affinitived ; ordinary combustion, as developed
by a burning candle, and finally, slow combustion, such
as the gradual and disintegrative process apparent in the
burning of phosphorus. After illustrating the qualities
-of hydrogen gas, the first of combustibles, by a series of
appropriate
and attractive experiments, Dr. Reid an-
nounced for the subject of bis next lecture common in-
flammable matters in general, more especially common
fire, and invited any of his audience, so disposed, to
apply to him in future after lecture for the solution of
any enigmatical points which might stand in the way of
their clear comprehension.

MESMERO-P /MEN° LOGY.
TO THE EDITOR OF THE SUN.'
SlR—Appended to your report in The Sun of Monday
last, is a brief allusion to some mesmero-phrenological
demonstrations at Manchester, by Mr. Crookes and Mr.
Wilson, said to be reported in the Manchester Advertiser,
of Thursday, the 24th inst. I believe there is no such
report in that paper, and as the name Croohes is in
your Evening Edition printed Brookes, I presume you
intended to refer to the mesmero-phrenological demon-
strations by myself and Mr. Wilson, at some public lec-
tures delivered by me on mesmerism, at Birmingham
during the past week, and which are reported in the
Birmingham and Midlind Counties Herald, of Thursday,
the 24th inst.
If this be the case, perhaps you will oblige by the in-
sertion of the above in explanation.
Your obedient servant,
H. BROOKES.
Birmingham, March 30, 1842.