The Express. — London, England, 1867-06-17 00:00:00

droll.); ;., It.!) (*H.% I hr tr.y 1.• u••rktitail.hip A , •1.4 1,1 Oct.lkAul gua• Ii Ir. 1 r. A thr n-te, .t ;,. i. I L. ...~.~. - 1 •:u\e. ' C-rEar.s. B I: E A A S S'S COCOA. 131: ,, wN FLouR t• 4:wt . kitl4l9 Are t tN ".. i• •! I.y t,4011 - 04 ZOZ, - ; MOM • k i fie r .• A.lvertf.wm.nt• I , • I . llllor, Mllit I. If V.r. I . 1 Octuc'c uu t.m I .t . t' ••• .r. F.reetlng B4userle greet. by two t.ANt. \ Rouge ran.l 1,111 1.. le Vl it h • $ $ , intsr.• I.ll$OlN. . v. $ v • Ile, IS.,hertskal A La: TM. EVFN , . Nt vine . TUE , km:4,, tot I I 1 '. '. . ~. ~.. i s l' Tnt4 Evittti• • • • Krnd.J told tli,a Ilierke. Witt) 1.10 , -;. • rtr. st.t l er ; .•• • him...H.141e. Dalt..oe. Wright, k.•.—.lud rt , i, "1• P 1 1 11:1: \lr. i5..1111.“61.. Evr 1111'11• c at T . • \ti.s”• rrrawl..l., II e. i . 1.. ot.. gf.aN 1 . 11110.'ol•Ort P.. •I ••!..1 .1t 11311 punt rrtav , 0.111 1.Vr. • :1N4, ()I It t.. 0 I:- el , 4 —1 . 1,(I‘l 4110 v DR. Tilg STArt tl' • NI - I•i. 011C9. 1:3 tart , " I i '• roue. an.lll•.lL—And WAIT . IV: FM: 1.i:: I 1 , 1.1:0 II nnllt TAM F.%EC,%1 Pl*l rtiod i; 11.1 T. Mr. I'M MC4;111114 I. ••••••i ••• I . ••n• ! •r< lml T.; t yr' i%11.1-..; MOrkir, I: r..rr.:ar., t..llurr••. I; ero.v. K Emery ; 1.11v.1 lot.). I}y tg.11.14, 4u•l C. sawidtim. IMITA vNIA. Tnt 1)1 'No, %. ll.h Olt, VII: .11 , 1101'IMIVA TII.E. tI.• ...•1 /nts"oe.l, —TIIE AI tRtI VIE ctit , ~;: I v..1111.ws 11.1NOWII. ”r.. a. Lome. —.1n.1 UI. /ItGI: I. \ Mi. J. 11. 11.4 e %11., w . Mik. 111 , :ff WA rt:lt tT LONDON f 1111001: Ting DA T •—‘l.4,lDlr, Sh i'.lll !b nat. 10.1101UtoW-4,,nsfint, :7nt Afternoon, :th. WXLOV, .111)V1)4Y, JUNE 17. Tuts time last year the Directors of the Rank of England were e11;•geil iii giving a fresh trial to an old time-homairol policy, admirable in theory but disproveil m practic,. They kept the rate of disc tat 10 per cent in order to attract bullion from countries where the current interest was four per cent., i.e but little more ; neverthe less, for reamins which few commercial men (out side the It:ilik) cm fail to appreciate, gold went out much faster than it came in. The inducement of 10 per cent. proved utterly powerless. Probably the terms were considered to be too high to be compatible with good security. Events have proved that this supp. Nit' was erroneous, but there is no room to doubt that it existed at the time. Be that as it may, it is evident that what 10 per cent. could not accomplish in 1866, 2. per cent. is doing in 1867. Geld appears to be attracted here in exactly the inverse proportion that it is wanted. The Atlantic Telegraph brings the con stant announcement that fresh shipments of specie have been made front New York for England. Australia is also sending considerable sums. It is the same with nations as with individuals. In either case, if money is really required, it is diffi cult, if not impound°, to obtain assistance. On the other hand, laans are freely offered precisely at the time when they are of least service. A year ago the arrival of a few hundred thousand pounds in specie would have been of almost incal culable value ; now it simply adds to our embar rassment in finding meats for the satisfactory employment of our already redundant capital. If trade were in a better position, the difficulty would disappear at once. But unfortunately no per manent revival is shown in commerce, The last Rank return gives an increase in the stock of bullion of 376,0001., of which only a small portion is represented by supplies from abroad, the greater part consisting of coin with drawn from internal circulation. In this respect we have the precise converse of the position of the money market nearly two years back. In the autumn of 1865, the close of the civil war in the United States gave an extraordinary impetus to our trade, and necessitated a comnpornling demand of coin for actual use. Tho rate of discount was then raised because money was legitimately re quired for the ordinary purposes of commerce. Now it is low since trade is contracted, and there is no demand in any quarter. One of the chief defects of our Bank Act is thus exemplified. When an increased supply of money is necessary it is rigidly denied. On the other hand, facilities are freely given precisely on those occasions when no possible advantage can be taken of the con cession. There is no doubt—in fact, every week proves it—that the accumulation of unemployed capital is proceeding at an almost unexampled rate. A safe guide in this respect will be afforded by the forthcoming accounts of the London joint-stock banks. It is nearly certain that the deposits will show a considerable increase, which can only sug gest the inference that traders have got larger balances in hand than in their opinion they can safely use. Admitting that commerce may be less buoyant than a year or two ago, still the aggre gate of profits must, even at a period of compare. tive depression, rise to a formidable total. As a rule, the gains realized were in former days placed in new investments. At one time foreign loans have been subscribed, railways constructed, mining shares taken, or, as within the last few years, a host of all kinds of joint stock companies for miscellaneous pur poses have been successfully established. Not withstanding some notorious examples to the con trary, the bulk of these last enterprises have been generally advantageous. In many instances the shares may be quoted at a discount, but as far as actual income is concerned they are, on the whole, remunerative enough. For the last twelve months, however, no fresh means of investment have been introduced of any consequence. One or two foreign loans, as many new companies, and an occasional issue of debentures for one of the colonies, form the total. Perhaps these opera tions, taking them in all, have at the outside absorbed ono-tenth of the capital that we are annually creating. It is perfectly true that, great as the resources of England may be, they would be speedily exhausted if we were inclined to entertain every project that might come for ward from foreign governments. It seems almost incredible that countries like Spain or Greece should really contemplate raising fresh loans in London. There can be no doubt, however, of the intention, and still less of the success they are likely to achieve. Plenty of other comers are stated to be on the point of appearing, some of whom it is only just to admit ahow legitimate reasons for requiring the aid of British capital. As regards new companies, we may consider them to be practically out of the question. A few may be brought forward, of which the intrinaic value S .1; tti St{ U.. 1411 14: be yond ,t:i umlertakiti43 would not LC looked :it for a Hamm:tit. 'nuot brought face to Lee with the old prob!em, t' h it ,•re %.c to do with our money? It caanot • bv I-ft Even the neest thnia 4-tpit dist will soener or later bee,ime tired of getting no return la. Lis aectieinlatvd Tw.• coarse., .ire 1111.•:l to Lint. Either he , most invest, or trust to an imiertain Lr per cent. iii tan dish. irket. Th are • (VIII 4 hardly any pnd•ability the 1-ate rising ;on the contrary, it promises to be lower this year tit to within ally known peri.al. If tb.: fa:els should he ele•sell or railway stork,, the tranciaien would merely involve the tr eviler of a certain MUM of money from one hand to another, the actual supply re maining the s otm. ppar aitly some lam amounts will Incr ah•: ,, r1,c , 1 for tat, new Indi a n railway pro jecta, and tie latter outlet couhl be devised. Thu security is perf.,Aly safe, and the money is ex pended for a 1R41011:1:11 purpose. As regards this country the existing plethora will have at least this good effect : it will enable our own railway coin panics to carry out the financial reform which has long lieen contemplated, but hitherto scarcely put in act' . Thu upportanity is presented for ex tinguishing their floating debt, or debentures fall ing duo at periodical intervals, by converting them into permanent stock. As yet the plan has I met with no success Wlailt mentioning, for the reason that the terms uttered were too low. A debenture holder was naturally disinclined to take a 4 or 41 per cent. stock at par in exchange for a bend which must be paid in full at a certain date. The stock :night very easily be depreciated in the market, shonld he desire to realise, but at :ill events there could he DO doubt of his ultimately getting both principal and interest if ho clause to retain his bond. However, the experience of the past year is not likely to he lost upon either railway directors or shareholders. They have too good reason to see the nekessity of a reform in the financial system of their several companies, and may, perhaps, be brought to under stand that it is worth while to make a slight sacri fice of dividend in order to escape the possibility of a discredit nearly tantamount to ruin. In order to realise fully the contrast between the present accumulation of money and the absence of any adequate demand, it is only necessary to compare the totals of the specie held by the Banks of England and France, with the bills discounted. They stand as under : RAnk of France .. Bank of Mug Lula .k.i4,545,1X10 . 21,340,000 1.155,575,000 Bank of France . Bank of England .e19,:m0,n00 . Ig,izo,ooo TIIE EXPRE'. MONDAY EVENING. rough refer:u iu the pru.cip!ei and practice of man:.et• went. THE PEF.I4. Believing Hist we must not rn.,ko the Holm of Core mons e .1, .n0cr..01,.: without at lie II ilee lite* nui•ing o.v Huns, ..1 I'. vr. mtro Life tire, the Ti sea a,.ain urges their lonlsbip no long. rto stand i qr. A member of the rimer House sty propose what bill he will, and there is before hint the Imun.littits field of debate. Our Indian policy involves CUM!. of a quasi-judicial character in which the House of L..rds is peculiarly qualified to give aid. Who better able to throw light on the Arish tool question this a house in which laud isoso fully represented? Then there is the whole tango of foreign affairs, from which the House of Cotnn.ons seems in a great measure to lave retired, hut which certainly tthottl.l nut Le left exclusively iu the hands of the minister of the day. Could not sowed the high authorities in the House of l'ecr.--estChaucellom, extAntbaisatlors, ea- Secret.tries of state—amuse with advantage our recent guarantee of Luxemburg? Then• are, too, the cases of the Tornado and tho Victoria. Why was it not pointed out that in the former of these the law of nations did not sanction a leand founded on the difference between Starnish procedure and our own? We want a well weighed scheme for the government of the metropolis. Rather than do nothing at all the House of Lords might have supplied us with one. It is too plain that it is not fur want of work the House of Peers is bile. Vic Court. BALMORAL, Jt:NE 14. The Queen and royal family went uut u usual. Ji NE I'.. The Queen drove out yesterday morning, accompanied by Princess Christian. In the afternoon her Majesty went to the Shirt in (Hen Gelder. accompanied, by Princess Louise and Prince Leopold. The Duke of Richmond dined with the queen and Royul Colonel Maude left the Cantle. The Prince of Wales and Prince and Princess Louis of !Jesse dined with the E irl rod Countess of Bradford at their residence, Beigravesquare, on Seturdey evening. The Prince of Wales and Prince and Princess Louis, with the Lady and Gentlemen in Waiting, attended Divine service lathe Chapel Royal, St. James's, yesterday morning. The Communion Service wan read by the Rev. the Sub- Dean, the Rev. Chas. H. Arnold, and the Rev. H. H. Birch. Anthem, " 1 beheld, and 10 !" (Blow), sung by Messrs. R. llarnhy, Benson, Winn, and Lawler. Mr. roooer pre•sidled at the organ. The sermon was preached by the Rev. H. M. Birch from St. Matthew, ch. 28, •v. 18, 19. A Cabinet Council was held on Saturday, at the official residence of the First Lord of the 'Trea sury, in Downing-street. The Ministers pre 'lent were the Earl of Derby, the Lord Chancellor, the Duke of Marlborough, the Earl of Malmesbury, the Right Hon. (ht borne Hardy, Lord Stanley, the Duke of Buckingham, Sir John Pakington, Sir S. Northcote, the Chancellor of the Exchequer, the Right Hon. 11. T. L. Corry, Lord J. Manners, Lord Naas, and the Right Hun. S. Walpole. A Committee of the Lords of her Majesty's Most Ho noureble Privy Council set on Saturday at the Privy Council-office, Whitehall, on the subject of the cattle plague. The lords present were Lord Robert Montagu and the Right Hon. Stephen Cave. Despatches were received at the Colonial-office, on Sa turday, from the Governors of Natal, Malta, Lehman, the Straits Settlements, and the Australian Colonies. Di smantles were sent to the Governors of the West India Islands, British Honduras, British Columbia, and to the Governor-General of Canada. HER MAJ ESTY'S RETURN TO WI DSO R. —At Windsor Castle preparations are being made for the re ception of her Majesty the Queen and the royal family, who leave lialmoml early to-morrow afternoon for the south. Mr. C. Mason, asaistans general manager, and Mr. Martin, telegraph superintendeut, of the London and North Western line, have left Euston for Ballater, in order to accompany the royal train to Brishbury junction, when Mr. J. Griereon, general manager, and Mr. Tyrrell, superin.endent of the line, will be in readiness to take charge of the special during its transit over the Great Western Railway. Her Majesty will reach Windsor at 8.45 on Wednesday morning, and will, it is ex pected, breakfast at the Castle. Frogmore-house is also being got in readiness for the return of their Royal Hi.ol - Prince and Princess Christian of Schleswig-Hohitein and their infant son, who accompany the Queen from the north. The Dublin Express says :—" We learn, upon good authority, that the Duke of Cambridge is about to pay an official visit to Ireland, and that he will be accent. panied by his Royal Highness the Prince of Wales." The Earl and Countess of Bradford were honoured by the company of the Prince of Wales and the Prince and Princess Louis of Hesse at dinner on Satunlay evening, at the family mansion in Belgrave-square. The royal guests arrived at a quarter-past 8 o'clock, when they were received by the noble earl, and conducted to the drawing-room, where the following vivitors had already assembled : Prince Teck, Princelei Edward of Saxe Weimar, the Duke and Duchess of Sutherland, the Duke and Duchess of Manchester, Maria Marchioness of Ailesbury, the Earl of Malmesbury, Earl Annailey, the Counteal of Vane, Viscount and Viscountess Royston, Lord Henry Cordon Lennox, M.P., Lady Mary Windsor Clive, Mr. Henry Chaplin, Baroness Von Schenck, and Hofrnarschall Von Westerweiler, in waiting on the Prince and Princes* Louis of Hesse, and Lieut.-Colonel Keppel, in attendance on the Prince of Wales. Covers were laid for 24. The Duke and Duchess of Cleveland entertained the Grand Duchess of Mecklenburg-Strelitz at dinner, at their residence in St. James's-square, on Saturday. The Marquis of Tweeddele, the Earl and Countess Stanhope and Lady Mary Stanhope, Viscount and Viscountess Sydney, Viscount Mahon), Lord and Lady N►as, Lord and Lady Lyveden, Hen. Thomas de Grey, Captain the Hon. C. Wyndham, Lady Caroline Cast, and Baron Los in atten dance on the grand duch u, constituted the dinner circle. The Earl and Countess of Clarendon received his Excellency the French Ambassador, the Earl and Countess of Derby, and a select party ►t dinner at their residence in Grosvenor-crescent on Saturday List. On Saturday night Frances Countess Waldegravo had an assembly at her residence in Carlton-gardens. Previously to the reception her ladyship and the Right Hon. Chichester Fortescue, M.P., received at dinner Via. count and Viscountess Halifax, Viscount Torrington, Lord and Ludy Stanley of Alderley, Lord and Lady Cler mont, the Right Hon. W. E. and Mrs. Gladstone, the Right Hoo. G. and Mrs. Geachen, General and Mrs. Malcolm, Mr. and Mrs. Bernal Osborne, Mr. and Mrs. V. Higgins, Dr. Quin and Miss Wynne. On Saturday afternoon, from 4 till after 7, • very numerous company assembled ►t Miss Burdett Cosines residence, Holly Lodge, Highgate. The extensive pleasure grounds were in perfection, the rhododendrons, roses, &c., being in full bloom. The band of the Coldstream Guards enlivened the gay scene by their music during the afternoon. Au important addition has been made to the residence by the erection of • glazed saloon, extending from the conservatory above 50 feet. Several large cases containing a valuable mineral and geological collection occupy • place in the room, which is screened from the rays of the sun by scarlet and white draperies. In the apartment several tables were laid out with fruit and other refreshments. In an adjoining marquee the choicest refreshments were supplied throughout the after noon. Viscount and Viscountess Hill have left the Claredon Hotel for Hawkstone.park, Shrewsbury. On Thursday night last died, at Dufferin Lodge, Highgate, the widow of the l►te Earl of Gifford, better known as Lady Dufferin—the sister of Mrs. Norton and the present Duchess of Somerset. The lady recently de ceased wrote some very pretty verses, the most popular of which, perhaps, was the song of " The Irish Emigrant." It is a custom that when a foreign monarch visits the Hotel-de Nine his bu tin marble shall he placed in the Salle de Counseil. now decor ,ted with the historical paint ings of K. Adolphe Yvon. The busts of the Czar Alexan der and King William I are already been or feted, and will in due time appear in the ball by the side of those of Queen Victoria, King Victor Emmanuel, the King of the Belgians, IN. JUNE 17, 18 eiEa (ULU I Efe, TELI. RAMS.) FRANCE. r,►rt, acs 17. The Emperor beiag slightly indisposed, was un able to be present at the receptions at the Tuile ries yesterday ; the Grand Duke and Duchess of Baden and the Count and t'onntess of Flanders were therefore received by the Empreipi. The Viceroy of Egypt arrived here at 5 p.m. yesterday. Genera: Pajol, M. do Raimbeaux, and the Prekets of the Seine and of Police, received him at the railway station, and escorted MS high ness to the Tuileries in court carriages, where he WAS received by the Empress. lie will reside in the Pavillon Marian. The Muintote, giving an account of the depar ture of the King of Prussia, says it was the desire of his Majesty to leave Paris without ceremony. Thu King warmly thanked the Emperor for the re ception he had had in Paris, and the two sovereigns parted on most allectionate terms. CANDIA. FLORENCE, JrNE 17. The Florence papers publish a telegram from Athens, dated I.lth inst., which says :—" Omar Paella, after having suffered a fresh defeat at Heraclion, burnt all the villages which had not been defended by the intim-wilts and murdered the inhabitants. The Consuls have announced these atrocious acts to their respective governments. The commandant of the Italian gunboat Prince Ad'lone saved several families, and transported them to the Pirams." INDIA. (Via Trieste.) BOMBAY, MAT 24. The first monsoon mail leaves here to-day, live days prior to the regular date of sailing. It is arranged that the schemes for the recon struction or amalgamation of the Bank of Bombay with the Bank of Bengal shall be submitted to the shareholders of the B ink of Bombay on June 4. The cholera still prevails at Umballa. The 94th Regiment has lost 21 men, and the natives in the surrounding villages aro dying in large numbers. The Bombay shareholders and creditors of the Commercial Bank Corporation have passed a reso lution in favour of resuscitation, and appointed a committee to carry the resolution into acct. The Memorial Church at Delhi was opened on May 11, the tenth anniversary of the meeting at that place. CALCUTTA, MAY 20. The London mail of the 20th April arrived here on the loth inst. The prospects in Orissa are satisfactory. Rain has fallen over a largo area. Considerable relief is nevertheless still necessary. The government have considerably restricted the privilege of sending free telegrams with the object of preventing an undue encumbrance of the tele graph system. Considerable benefit to the public is expected therefrom. 150 men for the Hong Kong police have arrived at Calcutta, and are about to leave for China. The collection of the license tax in Bengal is almost in abeyance. The total amount collected in April was only 80,000 rupees. The Bishop of Calcutta has gone to Burmah, for the purpose of holding confirmations. At a recent meeting of the clergy the Bishop proposed to create the office of sub and lay diaeonates, thus conferring temporary orders upon laymen in districts where no clergy men are stationed. AMERICA. ARRIVAL OF THE ALEPPO AND HERMANN. QUEENSTOWN, KAY 17. _ The extra-Cunard steamship Aleppo, from New York, arrived hero at 4.50 a.m. to-day with 182 passengers and 157,854 dole. in specie for England. After landing 27 of the former and the despatches she proceeded at 5 a.m. for LiverpooL All well. SOUTHAMPTON, Jess 17. The North German Lloyd's steamer Hermann passed Hurst Castle at 8.45 a.m. to-day. TER FATE OF MAXIMILIAN. M. Romero, Mexican Minister at Washington, has written the following letter to a friend in Sew York : " Wsehington, Mry 31, 18117. " . . . Please accept my heartfelt thanks for your kind congratulations on our successes in Mexico. It has been indeed most complete and gratifying to us. We have acrepted no humiliating terms from the French ; we are not embarrassed by treaty stipulations with any foreign power which would be likely to give us trouble ; all our leading enemies are conquered and in our hands. We will have, so to say, • new start in life. We have achieved our victory with our own scanty means, without assistance from any foreign nation, but on the contrary against the moral influence of all Europe, and the material strength of France and other continental powers. To this gigantic combication we have only been able to oppose the endurance and patriotism of our people, and the stead fast sympathy of the people of the United States. The remembrance of that enlightened sympathy will be ever. lasting in Mexico. I shall try to do full justice to it in a memorandum of my sojourn in the United States during the war, which I intend to write at some future day, as a contribution to the history of that eventful period. I have perused with interest your remarks about the way in which we ought to treat the enemies of Mexico. Ido not know what disposition President Juarez may make of Maximilian, but I am afraid if be is allowed to go back to Europe with impunity he will be a constant menace to the peace of Mexico. He will continue to style himself, to our shame, Emperor of Mexico. All dissatisfied and designing Mexicans will keep up an active correspondence with him about his supposed popularity there, and these people may induce him to return at some future time, as they did with Itur , bide. Such of them as can afford it will go over to Aus tria and form • Mexican court for Maximilian at Mira mar, and ho will have enough of them to organise a Mexican government' there--as the es-King of the Two Sicilies did at Rome after be was expelled from Naples. Some European powers will continue to recognise him as the Emperor of Mexico—as Spain did with the el -1 King of the Two Sicilies. Whenever we may have corn plications with any European nation, the first step taken by the interested party will be to intrigue with Maxi milian, and to threaten us with ' giving aid to our lawful sovereign, to recover hie authority from the hands of the usurpers,' if we decline to accept terms. Beside, if Maximilian is pardoned and allowed to go home, nobody in Europe, I am sure, will give us credit for magnanimity, as weak nations are not supposed to be magnanimous; but, on the contrary, it will be said that we did so through fear of public opinion in Europe, and because we would not dare to treat handily an European Prince and ' our sovereign.' Ido not mean to say by this that Maximilian most necessarily be shot. What I mean is that his power to do further mischief in Mexico must be destroyed before he is allowed to deport. The United States is • great country and a perfectly organised power, 1 and therefore they can afford to do what would not be prudent for a country like Mexico. I have fall faith in President Juarees ability to treat Maximilian in the way moat beneficial to the interests of Mexico. We have sacred duties to fulfil towards our own country, and their discharge must be the first consideration that we should have in view in attempting to resolve any question.—ln great haste, I am, my dear friend, most truly yours, " M. Romicao." The sums left by the Czar fvr the charitable establishments in the Department cf the Seine are said to amount to nut lege thee a malign of franca. BULLION. FILLY IllsenrNTFl% 1X,940,000 In the bud item some advances on stock are in cluded, but probably of no material importance. It will be seen that the bullion held by the two banks is about 47 per cent. in excess of the bills discounted. So great a disproportion has probably never been known. OUR CONTEMPORARIES. (THIS DAY.) THE REDIRTRIBI'VON SCIIFUIt The Time, continues to urge that the redistribu tion scheme of the government has been constructed simply with a reference to the gains of party, and if adopted, would he a standing provocation to fresh changes. The enfranchisement of the towns selected is not justified by their intrinsic importance, yet their transformation into parliamentary boroughs would weed the county constituencies of those liberal elements which serve to turn the scale in elections. Upon the counties thus carefully manipulated the Chancellor of the Exchequer would bestow 'l5 out of 45 vacant seats. But without dwelling further on the defects of the scheme, the Tines addresses itself to an enforcement of its favourite argu ments for a cumulative vote. The adoption of household suffrage is attributable to the passion for equality which is the moat striking phenomena of modern society ; and this passion having procured the enfranchiserneet of persons, will proceed to demand that the same number of electors shall under ell circumstances return the same number of representatives. Mr. Disraeli's temporary arrangements would favour the desire for this, and would infallibly lead to equal electoral districts. Considering this, as shown by the example of America, as a result to be avoided, the Timis would have the equality of the elector preserved in the constant multiplication of constituencies returning three, or, if need be, more members, coupled with the permission to each voter to accumulate or distribute his votes among the candidates at his pleasure. Mr. Dudley Baxter has a letter to-day pointing out the difficulties in this mode of voting, but ho does not succeed in convincing our contemporary, which remains persuaded that the real obstacle lies in the sluggishness of temper, and the indisposi tiss if not the incapacity, of the mama of ordinary men to entertain a new suggestion. We are reminded by the Daily News that if Mr. Laing's amendment, which has precedence this evening, be carried there will remain eight seat■ to be assigned, which must be obtained either by additional disfranchisement, or by grouping, or by diverting them from the boroughs or from the counties among which Mr. Disraeli has divided his 45 disposable sesta. It is from the counties that the eight should be taken. This ammgement, if combined with those features of Mr. Disraeli's plan with which Mr. Leine' amendment does not interfere, would give 27 of the 45 vacant seats to boroughs, 17 to counties, and one to a university constituency. Considering that all the 45 seats ace obtained from boroughs, by their partial or total disfranchisement, there would, as dm net result of the plan, be a dear addition of 17 members to the county representstim. If the adoptian of cumulative voting were logically or practically involved in the existence of three membered constituencies, it would be a serious objection to their creation. But the Daily News points out that those who vote with Mr. Laing may consistently vote for or against Mr. Hughes. Mr. Laing's motion, the Post contends, deserves the support of those who desire that the redistribution of sesta should be so settled as to remedy as thoroughly se may be the acom►lies and injustice of the existing system. THE REPORT OF THE LONIION ♦NI) BRIGHTON RAILWAY CUM 11117 XE. The above document is described by the Daily Nears as in some respects the darkest of the long aeries of financial scandals which have made the last twelve months for ever memorable ; but it is only fair to suspend • final judgment on the charges against Mr. Leo Schuster and hi■ so-directors until the case tor the defence has been heard. It is alarming that such charges should be brought against the directors of a railway which stands in the very first rank of our joint-stock enterprises; it would be terrible if there were no satisfactory answers to them. Compared with the deliberate and prolonged deception which the committee allege, the feebleness and incompetence of the mismanagement which the figures establish become almost unimportant. From beginning to end. say' the Telegraph, the docu ment is a tremendous indictment against the policy, the general management, and even the personal position of the London and Brighton board. Never theless, the committee have exe-cise i a sound judg ment in (mating a doubt en the expediency of holding the directors personally liable for the outlay on the three ex. tensions. Lawsuits are (ewer an expena ve luxury, even to an institution with a well-fi 'ed purse ; and they must be doubly so to a company with it. shares at • discount of 40 per cent., and in urgent want of a cool million sterling. The advice of the Telegraph is to accept the penitent re grets of the late directors and to se• about the rehabili tation of the somewhat die r I. red affairs on the safe prin ciple of peace, retrenchment, and reform—peace with their neighbours, retrenchment of wild spendatione, and the- ITESIDI.2. 2' .tT THE Sul TM. President Johnson and his party left Richmond and arrived in Raleigh on the 3nl. At Petersburg he w. ■ me , and welcomed, but declined making any speech further than to express hie thanks. At Wildest the party was suet by the North Carolina State officials, when Mr. Johnson made a somewhat more extended address of thanks for a hearty welcome to his native State. Secretary Seward and Mr. Randall followed. At Raleigh the visitors were met by the Mayor in another address of welcome, and conducted to the hotel by the mili tary, under command of General Sickles. The President was introduced from the balcony of the hotel to the people beneath by Go. ernor Worth, and in the course of his speech said :—" In making my entrance into this city to-day, my mind involuntarily wandered luck to the time when I left its streeta, a penniless and inexperienced boy, to make my way in the world. (Applause.) When looking back to forty years ago and returning here to-day, I begin to inquire where are those I left behind! In the language of poetry itself, " The friends of my childhood! Where are theyir EOho answers where. Some have emigrated and gone to other lands ; some have complied with the inexorable and irresistible call, and have passed to that undiscovered country from whose bourne no traveller returns. I again ask—Friends of my childhood, where see they? Where are the Haywood., Hunters, and Lanes! Where are the Pearce., the Herten, and Smiths, and Joneees ? Where is the long list of men who lived at that day, and who corn mended respect for constancy to principle! (Applause.) Under these circumstances could I feel indifferent? I would be false to my nature if I forgot you ; and, not to indulge in self-adulation, I can say I feel proud of the demonstrations in my honour by the citizens of my native land. - Breathes there a man with soul so dead Who never to himself bath sail, This is my own, my native land, (Applause.) This is not the time or occasion to discuss the political issues which disturb the public mind ; but an allusion has been made to my first going out from among you, I may say that ever since I formed an opinion as to the fundamental principles of the govern ment I have adhered to them and to the constitution, the Union and the flag of my country. (Applause.) When I went out front among you, and from the time I became connected with politics, I laid down as my rule a conscientious performance of duty, adopted the constitution of my country as my guide. (Applause.) And by these, whether in prosperity or adversity, I have always been guided and controlled, and, come weal or woe, in high places or low places, with the constitution Al my guide, with my hand laid on the altar of my country, I will leave these great principles for those who are to follow. (Applause.) One of my leading tenets has been the prosperity of the great mass of the people, holding that all persons, with out regard to condition or colour, should be esteemed ac. cording to their intrinsic merit or worth, leaving each to rise on its own merit, courage, and energy. Let this be km standard, so that to every one may be assigned his true position. I trust and hope, instead of discussing party issues, creating factions between North, South, East or West, that all will exert themselves for the restoration of the Union of these States, so that the flag may float over a contented and prosperous people. (Applause.) Let us, my friends, repair the breaches made by the war, and restore the Union ; this being accomplished, we may then make suck issues as the public prosperity and safety may demand. Let us efface from our minds the memory of the past ; let us pour oil on the troubled waters, and restore peace to the States. This has been my constant object ; but IN this pass." On the same day the ceremonies at the city cemetery, in connection with the dedication of the monument erected to the father of President Johnson, commenced. The monument is a single shaft of red limestone, ten feet high, with ornamented cap. It. bears the following inscription : —" In memory of Jacob Johnson, an honest man, beloved and respected by all who knew him. Born ; died January, 1812, from disease caused by an ever-effort in saving the life of his friends." The following obituary notice, written by Colonel Henderson, editor of the Rofriyh Star, is copied from that paper of January 12, 1812 : " Died in this city on Saturday last, Jacob Johnson, who had for many years occupied a humble but useful station. He was • city constable, sexton, and porter to the State Bank. In his but illness he was visited by the principal inhabitants of this city, by all of whom he was esteemed for his honesty, sobriety, in dustry, and humane and friendly disposition. Among those by whom he wee known and esteemed none more deeply lament him, except perhaps his relations, than the publisher of this paper, for he owes his life on a particular occasion to the boldness and humanity of Jacob Johnson." The ceremonies were closed with the benediction, when two young negro girls came forward awl laid bouquets of the choicest glowers on the grave of Jacob Johnson. A TORY MEETING TO-NIGHT. This evening a " gathering of the friends of law and order" will take place in the Large Hall, St. St James's Hall, to express the attachment of all classes of her Majesty's subjects to the Monarchical and Parliamentary Constitution of the country, "to protest against revolutionary agitation, and to vindicate the privileges accorded to the people by the crown in the peaceableenjuyment of the royal puke for the purposes of recreation." The chair will be taken by H. N. Fowler, Esq., Pmaident of the Metropolitan Working Men's ('on- sanative Association, at 8 o'clock p.m. Lord Shaftesbury, the Viscount Nevin, Lord Erskine, Colonel Hogg, M.l'., F.. 1. Powell, Esq., M.P., John Hardy, Esq., M.P., J. E. Gout, Esq., M.P., G. S. Beecroft, Esq., M.P., Major Waterhouse, M.l'., Lord Henry Tbynne, M.l'., Colonel Sir H. Edwards, Bart., M.P., Sir Henry Drummond Wolff, W. W. Paton, Esq., George Thomson, Esq., Frede rick S. Commie, Esq., M.P., Colonel Moller, M.P., W. Fernald, Esq., J. G. Talbot, Esq., W. J. Stuart, Esq., "several members of parliament and artisans" are expected to attend and address the meeting. The doors will be open at 7 o'clock. The advertisement tells the working men that "carriages may be ordered at half.past 10 o'clock." Admission is by tirirts on/g, which may be had on personal application, or by letter, addreesed to the honorary secretary. The body of the hall " will be re. served for working men favourable to the objects of the meeting." THE HOUSE OP CO.VNONS AND THEIR DINNERS. This morning was issued the usual grave report from the Select Committee on the kitchen and refresh ment rooms of the House of Commons. These rooms, the committee say, are inadequate for the requirements of the members. Up to the end of May 6,412 dinners have been served to members. On seve ral evenings upwards of 200 members have dined, " and many others who had intended to dine have been (*opened from want of room to go elsewhere." A new plan suggested by Mr. Berry for improving the ac commodation, namely, by converting the present confer ence and adjoining committee-rooms into a large dining room for both houses of parliament, in lieu of their pre sent separate dining-rooms, which could be used for tea rooms or for other purpcsee. is considered by the com mittee mittee preferable to any yet produced. The "proceedings of the committee" form a part of the report in the usual mode of parliamentary records. Some times we are simply told, " The committee deliberated ;" but at others we are allowed a glimpse at their deliberations. Thus at one meeting it was resolved " That the wine-mereba.nts should be restricted to supply ing only three varieties of each wine, with the exception of sherry, of which four varieties may be sent." At an other meeting, attended by four members, three of whom were Scotchmen and the fourth an elderman of the city of London, " the committee deliberated" and finally resolved "that Meson. Tod-Heatley and Co. be requested to supply Cos d'Betournel claret." Some little excitement appears to have been caused at some of the meetings of the com mittee by a complaint from the ufllcer of wm r',.• relative to the use made of the hot plate in the kitcher. Large tires, it is said, were put oe the top of the over nstead of under it. But this appears to have ended am eddy in 'he board giving directions for a broiling stove to le t rovided. A note was conscientiously made rf the foe', and duly transferred to print, that on the 29th ult, a letter was re ceived from Mr. Carnegie complaining of ti e I rice charged at the bar for brandy and seltzer water. Colonel French was in the chair at all the sittings but taw, wl en h;a place else supplied by Mr. Dalgliali. LAW INTELLWEAct. (Tills 1).%1., EQUITY COI • IlT. (Defer* ttte lasesiChanorllor am) the Tamils Juoi CSITCIP STATZ...I AMLNIk A Their Lordship. gave judgment in thi, e.t.t. (4..1 e It was au appeal by the (dainties fro ii of Vice-Chancellor Wood, who had ; ,(1„„.. 1 mutter to the bill the f II c , under The bill was hied by the Unit Ail ,d purpolc of estaliliali ing their right t•i roil .11 aud ot in this country, which bad been consig, .1 fhtii,,,• tie lion, by the Confederate govi .mia .oel weie claimed as State property by the I sta., I , . bill the plaintiffs said they ha•l new di......aer• I the defendants' firm, Meatus. 'rams, Tr. Co., had from the commencem e nt o f • been the recognised financial agents ..f the States in England. and that in each cap.. fly tonsive.lealings with the Confederate st a t es , calved, in addition to the cotton, the ”ildect of a t . • : suit (The United States r. l'rioleau I. ditto. shim, and goods, which hail formed part of the it or which they claimed in their public e..,..iciti, ai . i• • otherwise. As the plaintiffs' claim wan ii, . t th 4 an real owners of all the public propett of the lat. Cot!..t e . : rate States, the bill prayed that .in Remota TM .1. taken of all money., and goods. and ste other shire which had at any time crime h i m the ru . t . ly of the defendants as agents or tnistees of the States, and that the defendants w:gl.t lie (mkt.' t.,, or deliver whatever, on taking such account, shin • ( I e found due from them, or in their pusni,lon The defendants demurred upon the pound that so i n : dividual state officer, or member of the exec Incr. win could be called upon to give discovery mem a one. 1,1 hail been put forward un behalf of the ['lntel The Vice. Chancellor, in allowing the denim that if be were to allow that great an I powerful ndi q called the United States to sue in that name sinip!y, without putting forward any person against arb.iin relief by way of discovery could be obtained upon a cro,s 141.1* sh o uld he conceding to them tin advent:l;e enjoy e d h.„. no other suitor in that court. No imestiou anise as to th , ir , right of suit in this country, but simply as to the tons which they must sue. It was clear upon autliordy th a t the form adopted was wrong. and on the ground th a t t , , e defendant was entitled to have soave to him from whom he could obtain that discovery to tiliat in common justice he was entitled, the demurrer mut be allowed. The Lord Chancellor said the question in this ease me whether the United Mates of America were tenth'', bring in a suit in their own 08111 e for man s . owl 4. asserted to be their property, and which had come in'oth defendants' hands. }le was of opinion that the court bound to take judicial notice of the exis mice of the States as a sovereign power, and that the name in wlmilm they had sued was their correct title. As was ols served in the court below, the question was to whether the United States could institute a suit here, El; in what mode they could properly sue. The tiefendara counsel went so far as to contend that the proper turtle proceeding would have been for the suit t o hove h ut brought in the name of the President. The Vice-ci, oellor did not take that view. If, then, the Preddest s; not the proper person to site, what other mole could is resorted to of prosecuting their rights in a foreign mummy, but that of suing in their own names. He (the Lel Chancellor) was unable to appreciate the distinction wk.* bad been made in the course of the argument between' republic and a monarchy. When a monarch seed, In a t ) so, not as representing the state, but as having all thm rights of the state vested in himself, whereas in the c-me I of a republic those rights were the ptnperty of the it.,, It was held in the court below that the plaintiffs Im-e being a republic, there must be joined with them as co-plz. tiff some person who would be capable of giving discuti I to the defendants. He was not aware, however, the s person was disabled from suing in that court, bee. ma they could not get discovery from him. If it were so. as result would be that a republican government meld at sue without potting forward as a co-plaintiff some prm,s who was ocgnisant of the whole matter, and yet had se interest in it, and thin would be contrary to the fleetest; the joining as plaintiff of a Person having no interest in to subject matter of a suit. to injustice could be into-id by permitting the United States to sue in their own n.r.,e, because the defendant, if he should wish to obtain .s. covery, could apply to the United States for the nano of a person capable of giving discovery, and in the ever of his application being refused, the Court of l'hancerye.l4l have the power of staying all proceedings in the c until it was complied with. Time order of the Vice-o.m miler must therefore, in his opinion, be reversed, aid the demurrer overruled. Lord Justice Turner concurred in the opinion espre.ed by the Lord Chancellor. There could be no doubt that in the CAW of a republic the public property retusine. is the State, and the State was the proper person to institute proceedings. An American corporation could sue in this court in its own name and certainly the state itself could not be considered in a worse po.itioit than a corpora tion which had been created by it. Lord Justice Lord Cairns also concurred. la the case el a republic diplomatic intercourse was held with the slate and in it the public property was seated. He was dearly of opinion the demurrer must be overruled. (Before Vice-Chancellor Sir W. Palm Waal THE UNITED !MATES foF AtIEEII r. PRl.oltAr This was a motion on behalf of the plaintiffs, the l'o . ited States, that the defendant Prioleau, who had bees, by order of 26th July, Die hi, appointed receiver of the bales of cotton, end represented by k BIM of 20,00101. is the order mentioned, might be discharged from his Oboe, and for consequential directions. The ground of the motion was that Prick:au was • mender of the firm of Fraser, Trunbolm, and Co., who hire lately announced themselves unable to meet their engne menu. On the :fifth of December last it will he review- bored the court discharged the defendant Prioleatis sureties, on the ground that as the United States hal not answered the cross bill nor filed an affidavit es to docu ments, it was unjust that a sum should be tied up any longer for the purpose of providing for the liabilities of the sureties. An affidavit of the defetokut "riolesu, tiled ea this occasion, stated that in the 'fiat, a of the I:ltn of Jane there appeared a paragraph, in the letter of the delphia correspont eel t, stating that in the United States District Court of Charleston is bill had been filed h the United States Attorney against Kuhn, Prioleau, TA*. holm, and others. members of the firm of Frwer and C o ., charging them with violating the laws of the United States in blockade running, and claiming tlid in other respects they were answerable to the government, and that the court heard the case and granted • preliminary injunction, rentniining them fees disposing of the real estate they held. Further, that these gentlemen were said to be the owners of areas part of the city of Charleston. The defendant went on to say that he bad not been able to confine the :dose rgatet, which must have been sent from Charleston to Mils. delphia by telegraph ; but he believed it to he tree be cause certain members of his firm who hail been sane mimed to Washington professedly for the rue pose of giving evidence before the committee ler the impeachment of President Johnson, instead d being asked questions affecting the condii.l of de president, were subjected to a scorching ccamiltattel with reference to their own private affairs, and as defendant believed with a view to the institutiou el ths above-mentioned proceedings. He said that the value d the property affected by the injunction consideraldre ceeded 100,01601., and was the same as that which was IM subject of this suit. Mr. G. Y. Geffen!, Q.C., and Mr. Wickens supported* , application ; Mr. W. M. James. Q.C., Mr. Kay, QR., No. Charles Hall, and Mr. Benjamin opposed it. The Vice-Chancellor said that no mute had been made le disturb the conclusion which was art ived at in December last, when the court must be understood to have been fant cognisant of all the facts. Two pain age. the court has thought it right that this fund should he kept in iinsho, a order to meet the claims of the plaintiffs, the United States. It was then thought prepaid() that half of this seas el 20,000/. might lie coining to the plaintiffs .ifkr s doling the lien of the defendant Then the cross bill was filed,and. inasmuch as the court thought that it might have been answered and discovery made by the (*tilted States in the course of hut year, when in December an appliiation was made to discharge the defendant's aura tit* and leave the fund to be secured by his recegnizances alone, it ess thought unreasonable that the defendant's hands should be fettered any longer, and that he should lut compelled to keep this fund locked up to satisfy the liabilities of his sureties. The court was of opinion that the defendant ought to be allowed to deal with it up.. his own sole secu rity, nobody having alleged that a pan,:l, farthing was due to the United States government. Under the cumuli stances, his honour thonglmt he might nut tak e an y further step in this matter, or to 'immune the embarrar• manta of this firm, which appeared to lw sinking und er the pressure which had been put upon it ; anti he et""i t hem ' fore, refuse the motion, with costs. COURT OF COMMON PLEAS. Sittings in Banco.—Htefore Lord Chief Justice. Dorill sad Justices Willem, Keating, and Smith. APPLICATIONS AGAINST sHAIII:HoLDERS. This morning several application% were ni ale to the court for perrniwn to issue writs of ache Luisa against individual shareholders, so as to obtain payment from them of debts due by companies in which they were share , holders. Such a course of proceeding is extremely elm sive, for in some instance. upwards of a score of shat.' holders have been proceeded again 4 at oncv by an Mil* creditor, and the practice is that the proceedings shoat* be in the nature of a separate action against each india dual shareholder. Some attempts have been made, but in vain, by the court to mitigate this expense, and their lordships have on several occasions drawn attention to the desirability of having some better remedy provided. The Lord Chief Justice now said that there wan a bill before the House of Commons, which had some refereem to this matter, and he was perfectly certain that with very alight amendment provisions might be made which would be very much for the benefit of creditors of companies 10 of shareholders also ; and he hoped that some steps would be taken to insert clauses to effect that object. le