The Express. — London, England, 1853-07-26 00:00:00

- Ott enrceiSfi. TO CUithESFONDENTS. 43coud Mitt= ool.n. Express.'" (=Winne tna same evening's Olifile. ° 14 kogiblith,l Clrtly TUPC) anal Triday Li as /or Pam trot wes,,u. intended far "The ri;ifew,“ Lawton Peening gaper. arn be 'tee, le. Bonverie.etreet. by two o'elock ow tbe day of puo.estmoi. MOH WATER AT LONDON BRIDGE. Tao Day—nonins. 311.3!* Afternoon Ih 19‘. • •l. 6h. 40m. ii: -id. LILVDO4V, TUESDAY, JULY 26. Lonn Deane met with signal discomfiture in the attempt he made last night to induce the Peers to :outdate) the Tax on Successions Bill It will be bees by the debate that the ex-Premier brought forward certain amendments in Committee, the obvious effect of whi:b, if carried, would have been to destroy the measure;—by depriving its provi sions of all their impartiality, and by postponing in definitely those pecuniary results anticipated by the CHANCELLOR of the Exults ems:a : results which, under the financial arrangements of the year, are in dispensable to avoid au actual deficit iu the national pocket. Lord DERBY, with his usual recklessness of everything but the defence of his own personal con duct and policy, admitted that what ho was seeking to reject was " the corner-stone of the whole financial system "of the Government. Yet with perfect 'any fruid he urged upon the House of Lords the propri ety and expediency of displacing it by a summary vote at the very end of the session; and thus prac tically assuming the function of overhauling, nay, of absolutely nullifying, the deliberate proceedings of the only assembly in the realm which by the letter and spirit of the constitution has the right to deal with matters of taxation. But the majority of the Peers have shown themselves wiser in their genera. tion than their giddy and intemperate favourite. By 102 to 68 they overruled the perilous proposition of Lord DERBY, and ratified the justice of the principle that an inheritance in land ought to yield to the national revenue an amount of contribution equal to that so long paid by those who come into the possession of property in money or other chattels by testamentary disposition. And certain it is, as was well expressed by Lord LANSDOWNE, that in thus :acquiescing promptly in an enactment so pal. pably equitable and fair, their lordships are doing about the most prudent thing,—in a strictly selfish point of view,—that can well be conceived. But Lord DERBY, who seems to be wholly inca pable of estimating political consequences, would fain have had the Peers vote an amendment, the terms of which would have exempted all successions created by settlement bearing date prior to the present year from the operation of the bill, upon the plea that other wise Parliament would be enacting a retrospective law. But what is the retroactive effect of such a measure compared with that of the Incumbered Estates Act, which even he did not venture to reject when in opposition, or to repeal when in poster? It was clear that to make such an exemption would be to adjourn the practical utility of the measure for many years to come; and substantially, therefore, the amendment must be considered as tantamount to defeating the bill. But in that view the proper course would have been to have taken issue on the second reading,—which the Tory opposition, for some sagacious but inscrutable reasons, omitted to do. In vain Lord St. LEONARD'S and his Grace of CLEVE LAND endeavoured to reconcile this inconsistency on such incidental ground as that of time. Equally abortive was the effort of Lord DERBY himself to make it appear that it was for the middle classes deriving property by inheritance that he was generously pleading, rather than for the landed aristocracy, whose titled chiefs he was addressing. Lord ABERDEEN'S answer was telling and triumphant. They all knew, said the Prime Minister, that it was not generally the custom amongst the middle orders of society to make, as the phrase went, "eldest sons:"—property acquired by industry, when it did not reach a very large amount, was usually distri buted among the family according to rules which by those who had accumulated it were deemed meet equitable :—it was among the class whom the Peers more especially represented that a different practice prevailed ;—and there could be no disguise regarding the fact that the prejudices and jealousies which Lord DERBY and his associates sought to enlist in their cause were essentially those of heredi tary rank and fortune. The middle classes, whose property for the most part is known to consist of chattel and personal estate, already pay the tax on successions—that tax which, when extended to free hold inheritance, Lord DERBY does not scruple to designate as "plunder." It is fair and reasonable that a merchant or a tenant farmer, a physician or a manufacturer, should be taxed from one to ten per cent. according to the disposition by will of his pro petty, but—according to Lord DEBBY—it is " plun der" when the nobleman or baronet of equal wealth is subjected to an equal impost. The honesty and liberality of the Tory Peer were never more trans parently displayed than in this assertion. Much anxiety was evinced by several of the im penetrable dullards of the late Cabinet to repudiate the memorable admissions made by Mr. DISRAELI, when trying to lead them out of the slough of their effete prejudices—respecting this very extension of the Tax on Successions. Lord ABERDEEN read, amid the cheers of the House, several passages from the Budget Speech of the late CnAxcELLos of the ExcnErwEß, pointing plainly and irresistibly to the necessity of dealing with the anomaly that has here tofore been suffered to exist. Ho was first inter rupted by& peevish and petulant call to order by Lord DERBY, and subsequently by an equaUy foolish, though more solemn, disclaimer by Lord HARD WICKE of the sentiments of his former colleague. Mr. DISRAELI can well afford to pity and forgive these lordly niaiseries, when he recollects how signally the views he was the first to broach as Finance Minister have been confirmed by the deliberate votes not only of the Commons but also of the Peers. The event of last night will be a warning to leaders like Lord Dsnnv not to try issues in future upon great questions in Committee. On the second or third reading of • bill proxies are available ; but In Committee the indolent members of the Upper House cannot be made useful to their party, fur they cannot be persuaded to attend. No diligence or im portunity on the part of the aristocratic "whips" can succeed in inducing effluent and pleasure-seeking members of the Upper House to forego their amuse pents or other pursuits after the weather has become hot, and a prolonged residence in town has become irksome. Men liko Lord MORNINGTON may be brought down on such occasions to take the oaths and their seats for the purpose of voting against jos tie° and right ; but personages like the Duke of RwrLAND refute to postpone their yachting cam lions for a few days at this season of the year foe the purpose of being told in a division at Westmin ster. Verily the Tory party seems to he iu a state of rapid thaw—to the great benefit of the nation. It now only remains to make the third reading secure, and the Successions Duty Bill—the corner-stone of M►. GLNIP , TONE'S Budget—will quickly be the law of the laud. WUAT do men want to borrow ? is just now,—when a great deal is said about the interest of money,--a question of considerable importance. The usual answer, of course, is—" money;" and as there is a : probability of gold coming into the country in great quantities, the inference immediately drawn ' is, that money will be plentiful and interest low. But no person borrows money to keep it. Almost all borrowed money is immediately expended. If borrowed by a spendthrift, it goes very soon for I horses or fine clothes, or wines or carriages, or b whatever the man has • taste or a desire for. The jockey or the tailor, or the wine -merchant, does not keep it in his pocket, or in his till, except for a short time, when ho buys with it more ' of the commodities he has sold, or sends it to his banker to bo ready for tho purchase of more commodities. In the meantime it swells the amount of his bank deposits, and enables the banker to lend something more to some one else. The con sumption of the spendthrift replaces with a profit the capital of the tradesman, and enables and in duces him to buy more goods to sell to other spend thrifts. The original borrower only borrows money to obtain possession of the commodities he covets, and the result of the loan is to increase the demand for the goods on which it is expended. But the greatest borrowers are the industrious classes, who borrow to make money by the loan, and who immediately expend every farthing they borrow in buying more commodities to sell again. The merchant, who borrows on the invoices of a cargo coming to him, or discounts the bills which his correspondent has sent to him in payment of his last consignment of hardware, does so to continue his transactions—to order more coffee from the Brazils or to pay the manufacturers of Sheffield or Birmingham for an additional quantity of hardware to export. If the spendthrift could have carriages, horses, wine, &c., without borrowing money, or if the merchant could at once and immediately barter his whole cargo of coffee for an additional quantity of hardware, neither would borrow money as the mere in strument for attaining his ends. What men want the loan of, therefore, and what they borrow money to command the use of, is other commodities than money, carriages, wines, coffee, hardware, &c., whe ther they are for their own personal consumption or to be exchanged with a view to profit. Money is merely the instrument for borrowing goods as it is merely the instrument for making ex changes ; and, as all the money in the world is a very small sum in comparison to the wealth it exchanges —as one sovereign in its time is the means of buying and selling many thousand pounds' worth of goods —so all the money in the world is a sum very small in comparison to the immense masses of goods it enables men to borrow and lend. Great too as is the increase of money from Californian, Australian, Russian, and Mexican mines, the increase bears but a very small proportion to the increasing wealth it is intended to circulate, and much as all our banking improvements tend to economise the use of money, it seems probable the number of mines is so small compared to the number of all other classes of producers, that the proportion which tho whole money in the world bears to all other commodities, must be continually diminishing. If it were not that we continually find out methods of transacting business, of buying and selling, of borrowing and lending, of actually bar tering goods fur goods, or services for services, without using money at all, we should be much hampered in our oper ations, and the increase of wealth would be retarded by a scarcity of money. It is not, there fore, the abundance of the instrument for making wars and for making exchange which settles the terms on which loans shall be made and exchange effected, but the relative abundance or the scarcity of the commodities which men require, whether to consume them or to trade with them for a profit. Corn has risen is. to 10s. per quarter within a short time, and any man who now wants to buy or to bor row corn must pay more for it than he did a month ago, though in the meantime money has not be come more abundant or scarce. If he buy or borrow cora to make money by selling it, his profit, or the interest he makes of his venture, will depend not on the quantity of money, but on the quantity of corn, and on the number of people requiring it hereafter. Thus the rate of profit and the rate of interest on money as the mere instrument of trade does not depend on the quantity of money, but on the quantities of various useful and desirable commodities in exisicnce and on the number of persons demand ing them. We scarcely need tell our readers that at present the demand for all kinds of commodities is very great. The proportion is rapidly increasing between those who want food and the amount of food at their command, and accordingly the price of breadstuffs, meats, and provisions of all kinds, is rising more or less rapidly throughout the commercial world. By the last arrivals from Australia the want of goods of all kinds there is so great that our merchants are reproached with sluggishness for the deficient supply, and we learn by statements from France that silk is much wanted to carry on the manufacture at Lyons. There are ten buyers it is said tor every parcel of silk to be sold; and at the same time cotton is rising in our own market and in the markets of the continent. Such is the demand at Manchester for cloth that many qualities hitherto considered only suitable for the eastern markets are now bought for home use, We are far from saying that the gold discoveries have not contributed to this result. They have abstracted from Europe a considerable quantity of labour or productive power which for a season they have ren dered unproductive, however more productive it will become hereafter. They have excited hope and sti mulated enterprise. While they have taken labour from our market they have given it abroad a rich re ward, end have contributed, with other causes, to raise the wages of labour, and raise the standard of its rewards all over the world. From whatever combination of causes the effect may have been produced, it cannot be denied that consumption has overtaken production in all three. lions, that everywhere there is an active and efficient demand for more food, more clothing, more comforts, and more luxuries of all kinds. To bay these com modities men must give more for them. They can only be borrowed, too, on higher terms. It is natural to suppose that the demand which has begun will continue to increase, and not only must men give more for commodities, but all who borrow them will be willing to give more because on no other terms can they continue busi ness, and because they will expect as the demand increases to make more profit by the loan. Trade is most active with rising markets. The pre sent rise in price, therefore, and the present general demand for goods in excess of the production, is a sign that the interest of money— however large or small may be the supply of gold—will become higher. One of the great exchanges to which, perhaps, in amount all other exchanges are subordinate is that between capital and labour—between property al ready realised and industry wanting property. At present this species of exchange is excessively active. Capital can scarcely get enough industry for its pm poses, and industry cannot find enough capital to pay for its exertions. Though the competition be tween them is in general very great, and the chief deduction from profit is wages—the one varying in versely as the other—yet, at the present time, profit is so large, or is expected to be so large, that capi talists are willing to give, and do give, much higher rewards to the labourer than formerly. At present, both profits and wages }Hive increased, and both classes who carry on the great exchange between property already realised and inciJetry wanting pro perty are in an improved condition, sod are pleased with their prospects. But these classes constitute the bulk of society, and both being comparatively well off, the present great demand for commodities of all kinds is more likely to increase than diminish. But there are also the bulk of the producers, and when we say the mutual exchanges are large, active, and profitable, capital is well employed and production is immense as well as consumption. A general rate of high wages implies the employment of great armies of labourers, and that production is going on in like proportion. With active and immense production—with a con tinually increasing demand—with both labourer and capitalist acquiescing in their mutual shares, if not ex actly contented—with a strong and a just expectation that thedemand will be even greater hereafter than at present, there must be a strong desire to borrow capital, in order to share in this general prosperity. Every day almost gives a fresh stimulus to peaceful and profitable industry. Every day adds to the demands of industry on realised property—promising to repay the loans with profit. Every day, there fore, till new enterprise shall be rewarded with a great increase of realised property, must see the demand for capital increase; and every day there is a tendency to a rise in the value of money as the instrument of borrowing, of buying, and of selling. We are not surprised, therefore, — though the CHANCELLOR of the EXCHEQUER and some actuaries who have assumed 3 per cent. as the natural rate of interest, may be—to learn that bets are laid in the City that interest will rise to 5 per cent. before Christmas. Such a circumstance, though attended by some inconvenience to a few, would be to the community as little disastrous as it is at pre sent generally unexpected. THE EXPRESS, TUESDAY EVENING, JULY 26, 1853 EXCESSIVE MORTALITY AMONGST THE TROOPS IN BURMAH. TO THE EDITON. OP THE EXPRII3II. SlR,—The question as to the prudence of the war in Burmah is now absorbed in the greater question, in what way this war is to be terminated. It ap pears to be now admitted by all parties, that the acquisition of territory on that side of India where Burmah is situate is of no advantage to us, and can only be retained at an expense which can never be reimbursed by the conquered country ; and whether the war in its origin was either politic or just, there can be no question that its conduct hitherto has been such as to reflect no credit on our arms, has caused, by the procrastinating spirit of its commander, the destruction of vast numbers of our soldiers by the evil effects of climate, and has placed this country in a difficulty so great, that to advance or retreat is equally embarrassing. The natives of the East possess little courage and less truth, but they are supple, cunning, pertinacious; and they have never failed to take advantage of any check in the progress of our arms. It is to be greatly feared that the conduct of the war in Burmah has produced the usual effect on the mind of the enemy ; and that in the recent negociations between the agents of the King of Ava and the East India Com pany, no other object was intended by the Burmese but to enable them to make preparations for more effectual resistance, while the inevitable effects of climate should continue to work destruction amongst our troops. But the great question still presses— What is to be done ? It is reported that the Gover nor-General has directed that we are not to advance unless attacked. This can hardly be believed. The Governor-General canno t be ignorant that in the twelve months ending an the 31st day of March 'hat, the three regiments of her Ma jesty's soldiers now serving in that pestilental cli , mate lost, by its effects alone, 26 per cent. of its mean strength—that in these three regiments one man on the average died every other day, and that the number of men who have died in these regiments alone during this period amounts to morn than seven hundred, whilst many of the officers are com pelled to live in places little better than pigsties, at an expense equal to the rent of palaces. Nor can the Governor-General be ignorant that this fearful mor tality is not much more than half what obtained in the Burmese war of 1824-26, whilst the climate is pro- bably exactly the same as it was 29 years ego. Again, then, it must be asked what is to be done ? To suffer our troops to remain where they are is to subject them to misery and destruction. They will not be attacked probably until the enemy believes them to be so much weakened that their destruction will be easy. To go on to A% a will be difficult, as the country, is so impracticable, and the Burmese now know how to take advantage of it, and keep clear of us in places where discipline and science give us the advantage. Still there appears to be no extrication from the dilemma but to proceed, and we must again adopt the policy which has so long prevailed in India, of deposing the present king, who is so unreasonable as to refuse his sanction to our holding the most valu able portion of his kingdom, and setup another in his place, who will at least promise to reim burse us that portion of our expense which gold can restore. Having committed the error of beginning the war, are we to proceed ? Are we to shut our eyes to the morality of the ques dire, and es in many other cues set up a crea- Imre of the company as a prince in name only, to be approached with signs of reverence, but who will not rthe slightest authority in the government of e gs eeistry over which he will seem to preside ? At all mats something must be done, and that imme diately. The old gentleman who now commands our forces in Burmah must be relieved from his duties, the force must be augmented, and some measures taken, either by advance or retreat, which would re lieve our troops there from the certain progress of disease and death.—Yours, BENGAL EE RUSSIA AND TURKEY. CONSTANTINOPLE, JUL: 11. The Galata steamer arrived on the 7th inst., and, as announced in my letter of that date, brought ir telligence of the Russians having crossed the Pruth on the 2nd inst., and that they were marching on to Jassy and Bucharest. This event, although expected, produced considerable excitement and irritation, and nearly led to the overthrow of the whole ministry. It was on the feast of the Bairam, and the Sultan, as usual, had been at daybreak to the mosque of St. Sophia. After prayers a levee was held at the Bab humayun, as is customary, attended by all the great functionaries of state. About ten his Ma jesty returned to the palace at Teberagan, where, after having breakfasted and reposed for a few hours in the midst of his family circle, the ceremony of Mouhaiade or Baisemains commenced in the presence chamber about two in the afternoon. The Sultan looked remarkably well, and, with the two young Princes at his side, received most graciously all his courtiers, each in the order of his rank, as is usual at this festival. The royal band, led by Donizetti, was in attendance, and executed admirably various pieces of Italian music during the ceremony. The Grand Vizier had returned to his country resi dence at Emirghan, when, just after dinner, about 8 p.m. a royal page, Izet Bey, was announced, and immediately admitted to his presence. After nearly a whole hour passed in general conversation, the Grand Vizier urgently pressed the page to declare the object of his visit. The latter, with evident hesitation and repet, proceeded to express the satis faction of his Majesty at Mustapha's long and faith ful services, but stated at the same time that the ex igency of the moment obliged him to demand the seals of office. These were, of course, immediately delivered, with assurances on the part of the Grand Vizier that he was at all times ready to serve his Majesty, but totally indifferent to office and emoluments. A similar incident took place on the following day in respect to Iteschid Pacha, the Minister for Foreign Affairs. The office of Grand 1 Vizier was offered to Mehemet Ali, the Seraskier, and to Mehemet Pacha. Aluterdjim, who both de-1 dined it on the plea of the great difficulties of the post under the present circumstances. The office of Foreign Affairs was destined for Ali Pacha or Feed Effendi, who were also resolved to act in the same manner. In fact, the beet feeling and esprit de corps has been displayed by all the Ministry under the pres sure of this and so many other difficulties. Mean time Lord Redcliffe, on having been apprived of the projected change of ministry demanded imme diately an audience of the Satan, and succeeded for tunately in maintaining the data The Caradoe started on the 9th inst., with de spatches, via Marseilles, and the news of these events, as well as of the incredible difficulties which are pressing" on from day to day, will, perhaps, have reached you ere this. The political situation is, I believe, unparalleled in history. There is something so anomalous, so extraordinary, so incredible in Russia daring to invade the Turkish territory, in violation of law and right, and despite the remonstrances of all Europe—with her consulate, moreover, and thousand official spies and agents, still here to detail our every movement—her fleet, too, cruising within forty miles of the Straits, watching our steamers and trausports in the Black Sea—all this might seem more like a solemn farce and eastern fable than reality. The present ministry arc still disposed to negotiate, but my own opinion is that war is inevitable, and that if England and France do not promptly come to the rescue, Turkey will be soon a Russian province. Far better dismember the empire. The Prev re, of Vienna, says :—" According to ac counts received from travellers at Odessa, armaments are going on there with extraordinary activity. The town has the appearance of a camp. The Russian Councillor of Legation, Ozeroff, has probably arrived at Odessa." When the last packet left Alexandria, several thousand labourers had been taken from the Egyptian Railway to man the fleet of the Pacha, for the war against Russia. Hundreds of artificers had been working day and night in the Alexandrian Dock, docking, caulking, repairing, and fitting out men-of-war; and the banks of the Nile were covered with soldiers from Upper Egypt, to make up the Egyptian contingent for the Sultan's service. The official Austrian Correspondence of the 20th has an article on the late crisis at Constantinople, which it Nays has so happily passed over. The old Turkish party which misunderstood its own power and that of its northern neighbour, as well as the necessity of maintaining peace now recognised by all Europe, was abie to assert its influence but for a few hours. The entrance of the Russians into the Danubian Principalities was the immediate reason why the seals of office were taken from the hands of the Grand Vizier, Mustapha Pasha, and Reschid Pasha, his colleague, but the respectful representa. tions of the diplomatic agent of a great western power, who expressed the views and wishes of the ministers of the other three states, produc, d the de sired effect on the Sultan, and the two Turkish statesmen, again in office, zealously renewed their endeavours to bring about a reconciliation between the Porte and the Court of St. Petersburg. Hopes are expressed that the crisis being over the Porte will not lose sight of the extreme danger to which its possessions and resources are exposed, and that consequently it will now form some resolve which need neither lower its dignity nor curtail its sove reign rights. The -OM. Corn spontienz concludes with the following words :—" As things now stand, there is no longer any real difference between the two Powers, and a policy of delay, which would not only prolong the suspense of Europe, but be most prejudicial to the interests of the Porte, would appear to be unjustifiable." The Breslau Ga:ette has letters from Kalisch of the lith. Its correspondent says :—" According to the opinion of high-placed officers, who make no secret of the matter, the Emperor of Russia will not give up one of his demands upon Turkey, especially now that he is in possession of the Principalities ; and thus it is their conviction, as well as that of most people, that war is inevitable." FRANCE. PARIS, IkiONDAT EVENING. I learn from excellent authoiity that this morning M. Kisselef presented to M. Drouyn de Lhuys a note from the Russian government, which, in the opinion of the French minister, amounts simply to this: Rus sia is willing to negotiate, but upon the condition that' all tier demands shall be complied with. M. Drouyn de Lhuys showed the note to M. de Persigny, who instantly set out alone for St. Cloud, to lay it before the Emperor. The French government is highly indignant. It is not possible that the public can be allowed to remain in the present state of anxious un certainty much longer. The Prase says : The news from Constantinople which now, thanks to the rapidity of communication, ate received almost daily, be come more and more distressing. It is evident that 'turkey, exhausted by successive efforts, and torn by the double ex citement of patriotism and fanaticism, is marching rapidly towards a crisis of which the least result will be to furnish new pretexts for Russia. Already, as is proved by the news of the Bth, which we published yesterday, and by that of the 11th, which we borrow to-day from the liedependasice Beige, the party which may be called the party of despair has been on the point of directing the government. This party, in the very nature of things, becomes stronger every day. A prompt solution is therefore necessary, and if, as Lord John Russell has unfortunately declared in the House of Commons, negotiations are to be prolonged for a long period, it would be just as well not to neaotiate at all. Amidst the accumulating embarrassments and perils of the time, it is a remarkable and touching spectacle to see the Ottoman government scrupulously fulfilling all its en gagements. as well towards private individuals as with na tions. Wo extract the following from a letter we have just received from Id. Lamartine: ...... -..— —. --....._. " P . S. 1 .. bawe this moment received information of the payment of my annuity by the Ottoman government. Tkus you see, my treaty is punctually executed, notwithstanding the public distress." The statement of Der Lloyd, that ships of war had entered the Dardanelles, is contradicted. Not a single vessel of war, French, English, or American, had passed the straits on the 12th. The Emperor and Empress are still at St. Cloud, leading a comparatively retired life. They have not been seen much in public since the affair of the Opera Comique. In the present state of the political horizon, it is not probable that the Emperor will go far away from Paris this summer. The rumourthat the Empress would go to Pan alone is not confirmed, although the reason at one time given for her ab staining from a long journey is now said upon high medical authority, to have been based upon a mistake. It is reported that the Empress will pass a part of the warm season at Trianon, while the Emperor makes short excursions to the northern departments and the camp. Apropos of the camp, a Boulogne jour nal connected with the prefecture says, the camp of Reliant is to be removed to Boulogne, where it will be reviewed by the Emperor on the very ground formerly occupied by the famous camp of Napoleon I. The Empress's sister, the Duchess of Alba, is about to return to Spain, and according to court gossip Queen Christina, after bidding farewell to her host at St. Cloud, intends to pay a visit to her relative, Louis Philippe's widow at Claremont. This news, it true, is of a nature to raise doubts whether the marriage between Napoleon Bonaparte and ono of Christina's daughters can still be upon the lapis. Marshal Jerome is not going to Havre, at least the apartments that had been taken for him there have been relinquished. Madame Salvage de Faverolles, an intimate friend of the imperial family, has just bought Arenenberg, the favorite residence of Queen Hortense. The Countess Hubert de Saint-Marsault, daughter of General Lallemand who was condemned to death in 1815, has had a private audience with the Emperor to present an unpublished treatise on artillery written by her father in exile. A fall of 40c. has taken place in the Three per I Cents. for cash, and of 60e. for the account ; whilst the Four-and-a-Half per Cents. for cull have given way 20c., and for the account .40e.—the tendency being downwards. At the close of business, the fol lowing were the prices quoted : For cash : Three per Cents., 78f. 10c. ; Four-and-a-Half per Cents., 103 f. 20c. For the account : Three per Cents., 77f. 65c. ; Four-and-a-Half per Cents., 102 f. 80c. Bank Stock remains unchanged in value at 2,740 f. Tho Northern, Paris and Orleans, Paris and Strasbourg, Rouen and Havre, and Bordeaux and Cette, have each fallen 2f.; the l'aris and Rouen. 7f.; and the Western of France, 10f. The Paris and Lyons, Lyons to the Mediterranean, and Cacn and Cherbourg, remain unchanged. The following are the closing prices :—Northerns, 873 E; Paris and Orleans, 11321.; Paris and Strasbourg, 927 f. 30c.; Paris and Lyons, 923 f. ; Paris and Rouen, 1,093 f. ; Lyons to the Mediterranean, 76.3 f. • Western of France, 7401,; Itouen and Havre, 500 f. 50c.; Bor deaux and Cette, 633 f. 60e; Caen and Cherbourg, 620 f. GERMANY. The Augsburg Gazette reports a number of arrests effected by the Austrian police. Among the indivi duals arrested are the sons of some persons of mark —the son of a councillor of the empire, two sons of M. Trombetta, and members of some great Italian fam;ly. A letter from Vienna states that intelligence had been received in that city from Smyrna to the lath, announcing that the Austrian frigates the &lions and the Novara had arrived in that port. The American corvette the St. Louis had at that time left. M. Coszta was still in the hands of the French consul. A letter from Vienna, of July 20, says : " The Turkish ambassador here received the day before yesterday despatches from Constantinople, which give the strongest hopes of peace. It is affirmed here that couriers have also been sent to Paris and London." The same let ter adds : " Troops left this city on the 18th, to form part of the corps of observation on the tontier of Turkey. They in general consisted of light infantry." DENMARK. In the sitting of the 19th inst. the Danish govern ment presented a bill to the Folkathing for amending the fundamental law. The bill is not to be discussed before next session—the Diet, in fact, having been prorogued iu this same bitting. THE CAPE AND MAURITIUS. (BE ELECTRIC TELEGRAPH.) PLYMOUTH, MONDAY EVENINO. The Mauritius, General Steam Ship Company's vessel, Capt. 1). J. Elder, arrived here this afternoon, from India and the Cape of Good Hope. She left Calcutta April 20; Mauritius, May 19; the Cape, June 11; called at Ascension, and on the 9th of July at St. Vincent. She has had a long and tiresome voyage home, her machinery having frequently got out of repair, and the prevailing wind having been unfavourable. She has a full general cargo, 110 passengers, and a heavy mail. The latter was landed here about two o'clock to-day. The intelligence from India by this arrival has been anticipated. From Mauritius we learn that the price of sugar had risen from 15 to 30 cents. after the arrival of the Lady Jocelyn from Plymouth and the Cape on the 9th of May. Since the beginning of May the supply of rice had been better, and the prices had declined to three dollars for Baalam, and for Mooghy freight had declined. A vessel has just chartered for Cork for orders, at 3/. 21. 6d. From the Cape the news is satisfactory. The rebellion is entirely extinguished, and ample pre cautions are taken to preserve peace. The districts of Somerset, Victoria, and Albany have suffered most from the war; but, in the districts behind, the year which has elapsed seems to have been one of great prosperity. In wool, their chief exportable produce, there has been an increase to the value of 300,0001. It is thought by some in the colony that the quietness of the Kaffir chiefs is attributable to sulkiness and that their movements ought to be closely watched. The Orange River colony is tranquil. In Natal things remaining stationary, the local government continued in difficulties. The secretary, Mr. D. Moodie, has been removed from office, and the recorder or chief judge, Mr. H. Cleote, suspended. Mr. Cleote has come over in the Mauritious to lay his case before the home government. In Cape Colony the great feature of the month has been re joicing and giving thanks for the constitution, the provisions of which appear to be satisfactory to the majority of the inhabitants. Her Majesty's ship Grecian, Commander the Hon. G. Kean, arrived in Simon's Bay, June 8, from Julli mane, which she left May 14; the Meander, Com mander Talbot, and Dee, Lieutenant G. Smith, were also in Simon's Bay, June 10. The Osmanli steamer, from Liverpool, arrived at the Cape, May 28, and left for Australia, June L. The ship Sir H. Harding, arrived at the Cape from Plymouth, May 24, and sailed from Melbourne, Australia, May 27. The Mauritius left this afternoon for Southampton. NAVAL. THE COURT MARTIAL AT DEVONPORT. (BY ELECTRIC TELEGRAPH.) DRYONPORT, JULY 21. The court martial charged with the trial of Mr. Stent, second master of the Antelope, resumed its sittings this morning, and &Per the defence was closed, Mr. Stew was sentenced to be imprisoned for twelve months. • THE FAILURE AT PEMBROKE DOCKYARD. At high water on Friday night and on Saturday morning attempts were renewed to force the Ctesar into the water. The town was ransacked for casks of every descrip tion, to assist in endeavouring to float her, and it was most gratifying to axe with what willingness the inhabitants com plied with this solicitation. Every house yielded all it could afford, and in some instances actually emptied the beer and porter into tubs and vats to add to the number. Large air tight tanks were at the same time con structed and placed under the stem and along the bilgewaya, while two large dockyard lighters were hove down at low water and fastened to her stern post. Heavy rams were applied, and the Rhadamanthus,under sails and steam, was attached to her, and the forces of all kinds brought into operation at the top of the tide. Additional men had arrived in the Avon and lent their aid, but all these united and simultaneous efforts issued in failure. There wu no starting the ponderous weight, and the Cesar was again shored up for the night. On Sunday morning, the tide appearing to rise more rapidly than hitherto, the dockyard bell was rung at half-put six o'clock, and again at seven ; the battalion drums were also sent through the town beating to quarters, and, though tired and wayworn from the exertiuns of the past days and nights, the work men and horses were quickly at their posts, together with more than a hundred of the inhabitants who had volun teered their services. Here, however, the inconvenience of the distant residence of the workmen became manifest, for numbers of them could not attend in time to be of assistance, though messengers on horseback were despatched in all directions to summon them. This distant residence is in direct opposition to strict orders of the Admiralty. The efforts of Sunday morning proved as unavailing as the pre ceding ones, and the Cesar is once more shored up for safety. Though an examination of every accessible part has been made, yet there is no conjecture of the cause of failure. She started on the instant the dog shears were struck down, and proceeded with a speed that appeared to be irresistible, just in fact as the Royal William, of 120 guns, did before from the very same building slip. Nothing was found to have given way in the launching apparatus; she was not ribband bound as was at first supposed, there being three inches clear between both sides, and in fact, as before stated, there is as yet no assignable cause for the disastrous event. The following are the dimensions of the unfortunate vessel :—Caesar, 90 guns—Length over all, 241 feet 7 in.; ditto between the perpendiculars, 207 feet 4 in. ; ditto of keel for tonnage, 170 feet 6/ in.; breadth extreme, 56 fret Ot in.; ditto for tonnage, 55 feet 21 it.. ; ditto moulded, 54 feet 41 iu.; depth in hold, 23 feet 4 in.; burthen in tour, 2,767 40-94. Though she rests with about 40 or 50 feet over the end of the sliding planks or ways, yet so firm and solid is the ground that the injury sustained is compa ratively small, and if once she can be floated may tio.n be made all right. Pownwounr, JULY 25.—The Terrible, 21, paddle wheel steam frigate, Captain M.Clorerty, sailed last night from Spitheed for Plymouth, having supernumeraries for the ships fitting there. In passing Osborne House, the Terrible saluted the royal standsrd.—The Nelson, 120, was raisin into the sea basin today to be docked, being leaky.— The St. Vincent, 102, was taken out of the sea basin into the harbour, and alongside the Duckyard.—There are no move meats among the fleet to-day. CRICKET. SUSSEX i i irTit G. PARK) V. ENGLAND. — The greatest match of t e season was ecmtucticed at Lord's yesterday, and was played for the veteran Lillywhite's benefit. The ground was never attende by a more numerous company, there being about 6,000 persons pr.( sent, and above 20 car riages. The game is to be resumed this morning. Score: England, let innings, 128 Busse:, 5 wickets down, 57. ST. LEONARD'S SBOREDEICII.—The Poor-law Com misioners have directed that the election of a vestry-clerk for the parish shall be proceeded with. A meeting of rate payer was held on Friday evening, at the Bridport Arm•, Bolton, when a large number of influential gentlemen con nected with the parish attended to maintain the candidature of Mr. John Ilumfrey, whose chances of memo in the ap proaching contest were spoken of in a very sanguine manner. ebe court. Prince Albert and OSBORNE, JULY 25. the Prince of Wulee attended divine service yesterday morning, which was performed by the Ma. and Rev. O. Welltsley. The Lairs and gen tlemen in waiting were also prteent. The Princess Royal and Princess Mice are expected to arrive at Osborne to-day, from Buckingham Palace. The Princess Royal and Princess Alice, attended by Mr. H. Ormsby Gore, Groom-in-Wetting to the Q ueen , l e f t Buckingham Palace at h a lf past tea o'clock, yesterday morninz, for Oiliorue Isle of Wight. Their royal high nesses travelled by the South Western Railuny. Previous to their departure the Duchess of litut visited the Pria. cessea at the palace. The Duchess of Kent visited the Duehess of CAmbridge yesterday, at h.r residence, in St. si3.l - ( el, Palace. The Cuuntess de vie.ted the Duchess of Kent yesterday, at her residence, Clarence Douse, St. James's. The Duchess of Gloucester visited the Duciless of Kent yestorday, at Clarene,:llouse. _ The liUcher.e of lieu:, attended by Lady Anna Maria Daws.n, the Bawl:les:4 de Sot th, end ..Sir (.1, urge C.uper, hououred the perlormano of fit men l'h.ys with lur pre sence last evening. The Cuunei llo; of the Esehrquer and Mn. Gladstone anis& d in town yesterday from Windsor. Despatches were riceietil at the Colonial- tlice ytster.lay, from the Governor of Gibraltar. CIIOIITIAM. TUE SPIRIT OF TIIE CAMP. TO THE EDITOR OF THE EXPRESS. SIR,—On Sunday I went down t' the camp at Chobhaca, in order to ascertain if there was any truth in the rumours that the wet season had bred sickness and discontent among the troops; and I wish to communicate briefly the results of my observations. Sunday was a showery day—bleak and dark ; and, certainly, matters did wear a very dismal appearanee. Tho visitors were very few—three omnibuses carried oil the curious who went down to Chertsey in the train. I was in the 1.35 ; and those we met on tke road or about the camp, when we got there, were not Londoners, but Sunday rustic idlers of the neighbourhood. There was no bustle on the road. When I got to the camp, a driarlieg rain had set in; and first impressions led to the belief that there had been no exaggeration as to the dangerous discomforts of the troops. The camp on Sunday, on the Chcrtsey side, was, in fact, a bog ; Led as Saturday and the two preceding days had been comparatively fine—Saturday a decidedly sunny, dry day— it is easily conceivable how dreadful must have been the condition of the ground when the remplacement of the troops was taking place, which was when there had been floes or four days' constant ram. But as I got among the tents, I got on to better and harder ground ; for these tents ate, nearly throughout, pitched on slopes, with scooped drains around them, and the rain has not done that mis chief which might have been expected, although dampness is the prevailing tivment everywhere. I asked a private— one of the Owtrds—if it hadn't been a dreadful time with them. " Field days are severe," was the answer. " But the rain, hasn't it played the deuce ? " lie answered that in the hollows it was very boggy. But about the tents ? No; no rain had come through, except the very heavy showers. Was there much sickness ? No, not much ; a little ; but, on the whole, the camp was in good health. Were there many in hospital ? A few, not many. They had been often wet through? Yes, pretty often; but, still, the troops were well. The ground, he said, was " queer ; " it was liquid one day, after heavy wet, and dried up again " wonderful " after one day's sunning. Ile also said that " this here wind" dried the clothes very soon. lie was pipe-claying his white trousers, and I asked him about that. Well, it was a great bother, that sort of thing ; but when they were hung out, after that extraordinary process, they dried in two or three hours. There were long lines of white trowsers hanging out on ropes or wooden rails, I forget which-01350 to him ; awl his remark was oddly illustrated. A sharp shower came on, and the tents immediately gave up their men—the guard* (Cold 'memo) were rushing to take in their trousers. I passed en to other parts of the camp, and everywhere I inquired of the men themselves, and they all consistently told the same story—that it was dull and dismal the rain, but that the water had not got much into the tents, and that, generally, sickness was scarce. But I could see, though there was this honest, enduring spirit of a most lugubrious period, that the camp was not popular with the camp I met a very intelli4ent, obviously tru.hful man, and I asked him—would the troops benefit by this practising ? No, he could net see it; he dared say it amused the flue folks; and if it had been fine weather, no doubt the men would have been better to be out of town and in the brisk pure air which blows over the common ; but aa for train ing, why, it was just the old manceuvres over and over again, what every regiment was always at, and they would not fight a real battle a bit the better. " Why, sir, what do we see of a field day ? Its smoke here, there, aad every where, we don't see a yard from us, and don't know what's going on t'other side of the common." Well, but the officers ? That seas a new view to him. " Perhaps it was good training fur some of them—the big 'um. It was his opinion Lord Seaton would fight a jolly good battle, and an army would follow him that was certain. It was a good thing for His Royal Highness, too ; he was • willin' officer, he was, and would learn. But for Vothers ; why the op ting' and the young officers,—why, sir, it's smoke for them, too, and they only halters when they hesr hallers—they ' sees nothing." I put to him wasn't it a good thing to have a taste of hardship ? He didn't know about that ; in a downright real war, why there'd be something to think of, as would keep 'em alive; but lord bless you—this was a good deal worse than war—the having nothing to do, between the outs, but pipeclaying. He ex pressed his great disgust at the tents. Why, he asked, should they be so small ? With thirteen men in one of those tents, with their toes radiating to a centre, it could not be very comfortable ; and, as he described it, there was no room for the legs—he awoke with cramps at night ; and as for the heat—it was a black hole of Calcutta, and worse, that was his opinion. Then how could they dress —thirteen of them ? The call in the morning came in the middle of a shower—well, how were they to dress ? They'd be wet, and wet their clothes, if they got out ; and how could thirteen naked men get through their toilettes in a little tent ? The man's disgust was in_ tense, as he spoke on this point ; and there is an obvious reform required in these tents, which look so picturesque to the civilian, and are such muggy holes inside. The horses are better provided for : they have straw as clean, and rather sweeter, and they have each more room. I asked several men about their accoutrement?, and I find that the question of army uniforms is exciting great attention among those most interested—the wearers. I did cot speak to a man who was not deeply dissatisfied with his clothes ; they were all very well in winter perhaps, but in the heats and rains of this July the men have been tortured at Chobham. Another, and a new question, would appear to be in coutse of agitation. The wages movement has reached Chobhara ; and the British soldier is beginning to calculate whether as a labourer, with en Australia tempting him, he is not insufficiently paid. I ascertained that the principal sensation of the camp—on the non-field days—is a sensation of dulness and weariness. The troops I saw on Sunday had not been there more then a week, but they were weary of the whole thing—hearing it is a loyal hearty good spirit, but still, clearly bored. I doubt if fine wea ther would have made any great difference in this respect. Everything is provided for the men but amusement. Most of the men I saw in their tents on Sunday were asleep or trying to sleep. I did not see half a dozen with books or paper'. I heard that they had had no games or sports yet ; they had not bad time, and the ground didn't suit. In towns soldiers can always get up amusement ; and there ate canteens, and booths, auti camp followers, enough at Chob ham; but there is no provision for rational and &sizable recreations after work. 1 heard that there was to be a Poses Plastiques exhibition opened this week in one of the booths; first for the officers, at two shillings and sixpence a head ; and afterwards for the soldiers, at W. a head; and that is all of that kind that is to be beard of, and that is not ex_ actly the amusement of which the " authorities " are likely to approve. Why should the camp be dull ? Why should there not be a camp newspaper, camp libraries, and camp h proverbial danger in dullness; t ree nu s ; and and the spectacles? authorities lll'm i m were more amusements there would be less politico-econo mical g is he a consider that if there TOGA. mical criticism.—l am, &c., GOORKAII AND TRE LIVERPOOL CUP.—Mr. Edwin Semis, Q C., has given an opinion on this affair, in which be says : If it be intended to dispute the right of the owner of the horse Goerkah to the Liverpool Cup, or stakes, notice should be given to the stakeholder not to pay over or to part with the stake or plate, and an indemnity should be proposed by the owner of the second hone against the consequences of ruch refusal. Should an action be brought against the stakeholder he can apply to the court for an interpleader issue, and the question will th..n be dis tmetly raised as to the age of the horse, end will be tried by a jury. The certificate of the veterinary surgeons, which has been given, is not conclusive, and the owner of the second horse can try the fact by the process aborts suggested.