Weekly national intelligencer., 1850-02-23
FOREIGN.
COMMERCIAL AND FINANCIAL EPIToME.


ROYAL EXCHANGE, LONDON, JANUARY 25, 1850.
The great financial event since my last has been
the negotiation here of loan OF 45,50O,000 ster-
ling by Messrs. Barring, Brothers a. Co., on behalf
of the Russian Government interest at per cent,
the subscription rate being SO. The contractors,
in the present easy state of the money market, had
no difficulty in finding principals, and the amount
was allotted very soon after their circular appeared
The scrip is now issued. and bears a premium Of
to per cent f8s
The payment of the deposite money has occa-
stoned little hardening in the market, and rather
better rates are obainabe for money call in
sequence; but still accommodation is easy. 1t
seems likely that the scrip will not remain long in
the hands of our capitalists for the advices from
the Bourses of the Continent indicate a good de-
mand for it abroad. Therefore, it is more than
probable that large purchases will be made here for
foreign account in these securities. Whatever
views may be entertained of the Autocrat's general
procedure, we only state fact when we affirm
that, with many rich people in England, the credit
OF Russia stands very well, as is indeed sufficiently
proved by the alacrity with which Messrs. Barings
subscription list was filed. We believe that they
had no occasion to 60 beyond the circle Of their
personal friends for eager applicants.
Having given you the plain, unvarnished details
of this transaction, shall i'll fulfil my vocation as
reporter Of mercantile intelligence, if fail to
make you acquainted at the same time with some
Of the attendant circumstances with which the
bringing out of the loan has been accompanied.
The ostensible object of the Emperor Nicholas in
thus seeking the aid of British capital is the COM
pletion of the railway between Moscow and st.
Petersburgh but our freetrade and radical party al
lege thatthe real purpose to which the loan will be
applied is the Encouragement of claims arising out
of the late Hungarian war, and hence they have
raised loud outcry against its negotiation in this
country. A great public meeting has been held at
the London Tavern, Immediately opposite Messrs.
Barings' counting house,) Golden duce, at which
violent philippics were hurled against Russia, the
money lenders who should take up the scrip, and
the respectable house acting as agents in the
matter. The immortality of devoting English capital
to what was termed the payment Of "blood money"
and Che insecurity of the guaranty given by Co
vernment alleged to be on the brink of a volcano,
were urged with all the power and eloquence of the
great champion of free-trade; in Short denuncia-
ton, loud and strong, was the order Of the day, and
the meeting separated, appropriately with its tone
and temper by three groans for Nicholas and similar
pment to the hgh-mnded merchant firm deputed to raise
the loan.
The morale of the transaction has excited considerable
uovesy and it is clear that very defined views enter
tanned as how far responsible for the uses to which
money loaned by him may be appropriated Political econo-
my teaching that to buy in the cheapest market and sell in
the dearest" is the seminal principle Of commercethat ca
pia must be allowed to find its own evethat all nterfe-
between buyer and seller mpenent and mschev
ouss said to be direct issue with that high morality which
makes incumbent the duties Of property while its rights
maintained In short the party asserts that to provide
the snews Of war to an arbitrary and cruel Power involves
odip0c
abeng of the inhunan policy which that Government is
gagged in carrying out.
The present far from being the FIRST time that this and
cognate questions have awakened attention. and little diff
Guilty attends their solution may be WE'LL therefore, to
avoid dogmazng upon them, and leave to individual
science and conviction to erect in each the standard
right and wrong Certes, we control the to
which money may be applied, We cannot partition off, and
ticket much capital and designate il for purely moral and
legitimate ends The apoihecays business when ordered
to make up prescription, imposes obligation to ask
whether good i'll viii accrue to the patient from the use Of
the medicine The bookseller cannot be held accountable
for the thousand and opinions contained in the books
vended by him the The nvester in Consos
does not ask himself he is that every of the Gov
ernment in the application Of public funds be made to
square with the highest moral sancon-he most answering
rectitude. We must and practically do, draw the line
somewhere but, it has been well observed, little sym
pahy need be shown with intelligent stratness Of
science, and il quite possible push the doctrine Of com
pciy in regard the abuse by others Of things lawful in
themselves very absurd lengths Very few will maintain
that falls within the province of christian merchant,
manuacture tradesman, to busy himself in computing
the probable which the articles he produces for sale
in the market may be purchased for the qualification Of ques
ionable tastes or depaved passions The difficulty, there
FORE rises in defining the precise point where responsibility
in such cases terminates and how far we may carry the doc
trine Of are without touching upon the spirit Of the
sacred njuncon him that knoweth good and doeh
il not, unto him it is SIM.
But moralzng apart there denying that, practically,
mems conscience are but little offended in having commercial
dealings land under this head the Russian loan must bs in.
cuded with nations and for purposes which ignore trans
gress continually the admitted precps of religion and moral
y Mr. Golden, and his coaboraors, have remained silent
spectators in such instances but then there was
this difference these presented for ndulgng
in expressions political hostility they gave opportunity
for public agitation, peg upon which to hang diatribes
against irresponsible depostaes Of political power. Public
men are mseraby inconsistent in this country, with shame
be it spoken.
The oucry of the agricultural classes is continued, and the
demand for protection grangrowers increases ap
proach the opening the session, which, you aware
takes place on the 3ls Instant But show that Ministers
have ne intention Of taking any step in this directon they
have appointed Mr. VLLIIss, who always headed the Par
amenry for repeal Of the corniaws to the
address Throne in reply the Queens speech TO be
lveed at the opening of Parliament This annual message
- thAH akzn nH~A.