The Express. — London, England, 1862-02-10 00:00:00

ICUDANAMUTAN A COPPZR. XINING Cellthle Y OF Nit Til AUSTRALIA (Untied} MAY. 1133.0u0, In 46,001) shares of to Ilersed be M Application foe Mown nnJ le MOW per Mare at the expiration of one wmtlb her IM alleirest. DIYCen John Roble HUTU. Tut . Ithwthea ite. th, late c 4 AdelaiJe. Atwitter of the Cipun.la , oith Australis , Co Inning Company. HenryWeet. Clkeitthel W cork; - sft3,l4. and CoPPw Wert& Anawth. A iwa l64.len-torrace, Wean N.M. 4 .1 1 = Tentley. Oct.. Alrlighton, Inret for 01 the (:rent Northern thepper Math, Canopety et Beath Australis. Thews laseack. Loh MEOW` the °red Nor th ern Copper Males Ocempeuy oaten\ Anetrats. . . Lowing—lleums rottawo ashl Wig& 10. elteMikits-lalm, City. A•tylai it -ChArl.s I.net • iiiiscr.iis—Lood•m. lira of Lonion. Threadneedle-street. _ _ r. Bis.act.4 Y.• 1111 evsth.Alte, L, li")st chan_, ens. 11•••0131.1 1,11141vg Usecoes, AN. StOstere,l WM.— 1. t 1au440.n , w„ llausiws-house, landoo. Pltter•BCTlll. This tompeoy Is for.. I tor the purpose of pareheeing and wartime o oval vaimbee et.ms. woes, situated North of Port Assure In the robay ..f soseA Australia. The property romper, the ••• Yottananostana." ••• Wheal Ciless son, • •• ilarti, bud.... Slimes - mad seven eneroanding miner& can tl,.as forming one con:epee. Mork of WM *memo alen the Wheal Itlinm.to time. rarditating to all NO scres, In Germ mutes of so iierif In leases by the Colonial Go verment, under dates of Miguel. scptember, Mil November, 1561. at a rental"( 1.5 per acre. per minium for fossittem years, with right of truer for other fourteen years. alma payment a floe t. he Axed by the eruwa of not km than Li, end nut cure Urn cm per acre. The valuable character of these mien is estaltlished by men of prarurd .005104 esplerinee, •hrove testimony 0.1 .4th. In fore a committee cal the Huts. of „trembly at Adelaide, Is subjoined, ' ' , antenna winloohled evidence of the amazing reeources of the Itietimessotana property, while practically this ••41•14C11 Is OM r•iiirskil by the fact OM semi S tons of ewe, valued at about ati,sio, were raised and carted In ten day., by nine men, 5.111 shipped fur Leedom. large quantities of nch ore can he prompt!, procured by seer, poser) inr, rendering It, of course, compara blvely inexpensive in caleing. The distance of the nearest mine from Port Augusta is not morn than 120 milts, while the farthest is shout tiO beyond, with eacelkut roads. The Port Magmas Tramway Compaley, orsr, which Is now In ranee of initiation. under most favour able terms from the goverment. will speedily sure increased fardittee transmission. liana and to this distetet The purchase, of these • - reral niincral properties. Mein - dime an ores et surface. Is. been nude ou the follow irr,t equitable terms without my restrictive lights or nlaltioe, namely, k:Chiltel la auk. sail 15. 1 1011101.1 up Shit 1., on assignment of the pr Done of these dametrAnsferable till Os inonthe *llll date date of Woe. The capital of the Company Is ample for the elegiac, of virginal operations at the various mines, and will leave a amount is hand as a reserve fund, while from the results which will accrue, early dividends may be mascumblf expected, All Moms fnr promo lam, adverUsernimte, broker* * case & Siol3, inieleles all preinalusery legal and other etptossii, op to and toolud the ece We and fere of registration of the Company, have been detLed anti agreed for at 1 pee cent upon the amnia capUni ef Me Company Applications tae shams may he made to the Bankers or Broken In toe annexed form. bat so application for less than live share., or a multiple of five, well be considered, nue unless • deln.d cal tl no eacu slime applied for Is previously paid to the Rinker" of the ',dummy . To render the allnUiv let as equitable as practicable, the shares wiU be appenprated in full, in the order of apphcation, accord ing to the Bankers' look, and the list closed as Won a the re quired usinear of Ohm a is suismnbed . but no allototeut above laho shams will la male to any applitant. A aeleet MlXlnlittee eet t h e Mouth Australian Houma Assembly was appointid in June, 1,00, to take evidelice on the misserel character of the teeth rn district of the eulouy. The enemies. tam of the folkow u.o practical mining witnesses, by the chalrelees e on the Yndimaneetioui properties is As follows: Mr. Maeda evidence.—Could you give a neuch stateiron4 ef what copper there might he Wilt in the north ready her cart age :-1 could n. 7 -ay. There Pi an Immerse mass of copper ly log /II the surface At Yudoiamittaria. Mr. Allred louts evailense.—Looms the ore crop out on the surface, At soy plaees you have act n, to any large extent!—Tex: at laplananeitaisa there Is an hostess. lode. There are two sections, amt in the n o rthern section are four helm sneaks forth a,d south, mei one east an.l west , sal 11, the soelbella section there is um• lode—a very heavy body of green airborne —varying home in. hes to 17 feet thick. V. hen you *ph,. of • hale 7 feet wide, Is that solid ore, or rat and ore wised :—That Is all copper .• It steads aloot tWel fret nut of the voted, a• if this rain hat ',sailed the surface an ay mid left it sLuellus. At the eastern side of the lode it Is err) solid. Is the mality of It gl.vorit-1 have bad some of It assayed, and It Afersittil ho ist ce nt. Is it likely. In you think, that a large quantity of ore would In raised )Ira Giles was • ith me. mid he said he thought there was very nearly 1,000 tons of copper on the surface. Mr. hakes evidence—TSe quality of the ore you have seen — Is it generally goo-I •—ln some liottanees remarkably good at olanarouts nA tlw per tentage le very high. Atiord s eVoleoce.—Near kudauninutana, I think, there In plenty of *Ater f.r all the year. As far 5a going to Wheal illiu• mon is colictrio , !. I believe you can rids up tu the mall cart to within ,h mile, 01 the Itheal lithiman, over a very peel road. It fact, II you keep the northern road, It Is like mew over plats, and ....menially wtnJh.i round the spore of 1.1110. In adeilloon to tins evidence. the 'epode of several mining penthouse so. amiesai, 5I r. biles.— .. ll, hill, where the great mem of copper is crop. 1.1.,x out, forme the southern or Yudanareutaiu wales. Oss the tionhero liec,bat II heel lieemo; are Ave distinct lodes, four running parallel to call other, north and south, and out irons course mot and west ; the ore is red oxide ore, at least r •• the Vailaar.rae tans Creek diet lee the two sections on rislihs. the hill Irene the Creak rear ouutheriy, a ;treat deal of Coplorl Is on the o•rtece ; near the top it to crepping out hi greet I.Lscks, and the summit is crowned eith an eitorrio.us alma of erre. carbonate m detached blocks of many boa o eight each . urge .inatitit lee et ore require only to he Invitee up to be At fur cartage and shipuieut." r Ihe hole rams north and south It Is twelve feet send,-, cohiroweel of esery sort id rich ore. Some, I think. will make a prod.,. of To per cent.. It is the richest place 1 ever me —the lwet, I think, that ha. ever neeu glaosered north of Ad. tilde." Mr J. Mule= I have Joel rome from the Tudanarnntanii aline,.. Its the Vtv: place I have seen at the north—the bele h. Ina eery huge. :eel flopping three or hour fent out of the r 14101. 1,"111..1 , .., Almmt perpendicularly. There le an line Meuse quantity cal ore. showing at surface, of • rich quality:" talks.—•• r heal blinu. en.-11 opened the ground on the of the kale, Riot Ifilifiallte.l the width of the Woe to he alt feet Two feet ..f which wee solid dark grey me Ihe hole is eoU uie e,t, with a rieh red gussan back, and the country soft. 1 baileee that it • ill prove now of the richest mites in South Australia: the d.st from Port Auguste Mout 125 miles not being • serious dismisantage, se the road to that place is es. cellent." eio,seiej, b p.n.., states, In lettere dated Nuccaleetta, hep good.? le, and Uhrt....1., IT. let ..Captain Jane. 4114TM - 11 nnissilAisse from this Yudanannitana toe on Sotto-Lis hot. having loaded Warms with first clime ore In to days, ...VI 7 men, himself sad hone driver never such • thing done Is ;5,111114 before. and they con du It agate at my tlws I have ettiell•eeel the Vn.lanenintana : there Is more on la that mine thau In all the mines I have sees In the north." •• 1 could rain Melee OW of rich or. for *COLO." It may la Ivre a.. ntiotieel that the well known Dares Hurts, Kapueda. 51.1 ..tit rich miles are north of Adelaide, yet the fore.gulteg reporter .prese the convection that the Yu lallatilgt•1111 MOWS are the best ever discovered north of AdeLd.le. tondos, rebruats,ligg. PULII Of ittrLICATIOI ToR SKAIUS. T. the Illasetoes of ttw Y4.t.1111.111k114114 i'uppi.r 1115004 Company ..nib Australia Loultssl . Centlensee„—Hawlg pal.] C t.. your Rinker", the Bank of London, fur awe. In the Vislinstuotana Copper ;Muth,: timpani . •,f lavuth Au•tralia tLnit 4 , I hereby agree to accept sack shares, imbject to the levetetoos of the Jowl Mot I Vompeako '4. Name AAhheine Into CM. SIIMI AND 00.11 PURI EXTRACT of CALVES' FEET, Ysr limb& and CaHam Coe. SW la dd.. As. es. sad 4s. psdisLA by sal chends.d. Pam% DI liANUFAlfrulti, 21, (MIA PORTLAND-sr.. Itsgestdl. ZOOND-BAND PIANOFORTES. CIAM ILUA bow d ED, D sad WOOD • Mir airsiOna Psoms•hind , llawaliels• ley Oa oat mbionot ..k.% al gm* 'whom. pricv•—fol. Diont+traiL Vie •J!%*ls. TO 00111lniOnliDITL ,drerttreementt Inteode•l for " • Liaise &win Paler. west et the rem 10. ftieveripaWeet. Try Tot o. tote en the pelltealthes. llATllAiirt. Tall Erlairai, ilr corm's. M. 'When, linikaauir. Vinous, mid Arlen Jiro. Young. >But Oliver. A.' unix go.. mental AM) unix tIUY !SLUM; or, Corloquia ou4 uw Ur4lY Loalitygo Loom Lacier:xi, uc„ Thu EVIC4II4. Jl•eirs. kJ.t t, J..r lan. Potter, W1.1.1t. .4nls 111. ors C. Lertereq 11111 i M Hart.: —Ana IiTUITTINUTIO AND BIM CAT: gr. II , T*1• 11, Nfint NollY warlrbol. Warm J. WA : illajorD, sad taut, . Y.aa C.Adam. IT. ~lISSL Tins trams, Ileli - iIiDIL Vern. 0. Violll7. W. H. as. tirrrar, Ilium S: Umrbert.—PAKlLl'i AND " AVI I II O NIP.D‘. Ur V. AlaOben .n 4 111• A Um bcrt XL DNA: kW. ND Tag Cri/LNILIL —l.:Anisease /An. 11111 . TANNIA. T$ triartim. THZ — AllaroirsAL—THZ KING o THU JUJU& Or. 4. Lase. Herm sby. Loin., Newlima, the ChemirMk• Montly. mac C. Aisairs. M,. w. Com&turg. ....11rd T ILIL CLUCK UN TUE STAlHlL—Cammhew ONIIIWATIMI AT MMUS WOOS. Ts ailf-IMeles4. At%mown. ilk Ilan. T•4111110W.e-llening, Ile. Afternoon, oh. tee. LONDON, MONDAY, /88. 10. Os the financial events of the past week the OM which has attracted chief attention is tho very peculiar operation just ►rranged by the French 4:overnment. tVo quite admit that foreign finance is not to bo measured strictly by the Euglish standard, and that, though insanity might almost be imputed to an English Chancellor of the Ex chequer who, under like circumstances, should propose to do what M. Form) is now doing, a good deal of allowance must be made for the present difficulties of the French Minister. But, after making all possible allowance, the transaction stands out as one tending to reduce still further the low estimate entertained by the public of French financial management. It is difficult to see on what grounds it is to be justified. Sheer necessity, we suppose, will warrant a Govern ment in borrowing anywhere, in order to tide over pressing requirements while honest measures are being adopted for putting matters on a straight footing. But the intelligible plea of " impecu " Manly" has not been put forward by the French Minister. For what purpose, then, does he require the two millions or four millions (as the event _ may prove) which he has just arranged to borrow in London? The purpose is avowedly, by a deli cious and very French euphuism, to " faciliata " the conversion" of the Four-and-a• Half per Cent. Bastes into Three per Cents. For "facilitating the " conversion" should be read, we fear, " rigging " the market." The connexion of the French Treasury with the Bourse—its liability to be influenced by Boars views--has long been its deep reproach ; and the more than suspicion which is entertained that the money now sought here is to be applied to illegitimate purposes is quite suffi cient to deprive the loan of all sympathy. The advice' from Paris show clearly enough that the proposed conversion is regarded with distrust by the fundholders, so much so that, although it is pretty well known that the Government means to keep prices up until its immediate object is attained, many of them have hastened to sell. It is re marked, however, that, doubtless by arrangement with the Government, powerful bankers have con , stantly stood forward and have bought all the stock offered. This, we suppose, reveal; the main pur- pose for which the Government, lost to consider ations of dignity, has applied in so peculiar a manner to the English market. True, according to the version in some quarters, it is not that the French Government borrows, but that English capitalists lend. We will leave such hair-splitting to those who relish it, merely remarking that the French Government can probably, if it wishes, find as many tools in England as in France. Stripped of all transmarine disguise, and tested by the cold light of common sense, the endeavour of the French Government is to put a false face upon the market, to make the public believe there is a bonder response to its financial scheme, and to spread an impression that fundholders and the " high finance" of the capital have accepted it . . with alacrity. We can see plainly enough that this is all deception—a deception of the more un grateful kind, because the Government is trying to steal a march upon a class of people who have always rallied round it in time of need, we mean the class of small rattier:. These people are not likely to meet with comments by impartial jour nals, and, scattered over the departments, have little or no information respecting the Bourse manoeuvres for which the Government gives the signal ; yet the fact that stock from these genuine sources is now brought forward for sale seems to indicate that common sense is not at fault. Government interference in market matters is sufficient of itself to engerder distrust. The fnudbolder may fairly argue that if prices are only upheld now by official interven tion he had better sell, because they are very likely to go lower as soon as the exceptional prop is re moved. The actiontaken with such peculiarprompti tudo by the Bank of France is calculated to con firm a distrustful view. The advocates of the Government have been accustomed to declare that the administration of that Bank has never been controlled in any way beyond an occasional "re " commendation," or something of th►t kind. In its haste to bolster up the financial scheme now [ hanging in the balance, the Executive has betrayed the fact that its recommendation is such matters is as potent as a similar intimation from the ruling powers is in Ennis Beall. Were the Government actuated by a desire to carry through a simple plan for re ' clueing the rate of interest on a portion of the debt from 4i per cent. to 4, in the same way in which, a few years ago, it reduced the rate on this same debt from 5 to 4i, thereby effecting a legitimate annual saving, some persons might per haps be disposed to look with a degree of leniency on the machinery employed, forgetting the essen tial unsoundness and insecurity of the plea that the end justifies the means. But on the present occasion even this poor plea cannot be urged in extenuation of the course pursued. The object of the Government in pushing forward the con version scheme is evidently to clutch the 6,000,0001. or 8,000,0001. sterling or upwards, which it proposes to make the Four-and-a-Half per Cent. rentierd pay for the privilege of obtaining an equal amount of income from the Three per Cents. The project is purely one for getting a loan in a hole-and corner way, and is not framed in a statesmanlike manner. lu the permanent interest of the nation, to which the Finance Department ought to act as • faithful steward, it is not advisable that the con version should be effected. In the course of the present year, the State, by the terms of the original contract, fairly acquires the valuable right of cut ting down the Four-and-a-Half per Cents. to a lower denomination of interest, the holders, of course, always retaining their right of claiming pay ment in money at par instead of stock bearing a reduced rate. This is the plan to which the Government ought to have directed its attention at the first favourable opportunity, and, mean while, it ought to have endeavoured, by legitimate means, as distinguished from those savouring of charlatanism, to inspire that confidence which would enable French Four per Cents. to float in the market above par, as Dutch Four per Cents. do. A plan of this sort would have entailed an annual saving of about three-quarters of a million sterling per annum, instead of the economy of one-third of that sum, in the cost of the floating debt, which—as we be lieve, delusively—is put forward by the Govern ment as a main justification of its policy. In the former instance the large saving would have been of a permanent character, and future generations would be saved from the enormous addition to the nominal amount of the national debt entailed by the present plan. But all experience shows that the Imperial Government cares little for what may come after it. Carpe diem has always been, practically, its motto, and posterity has been left to take care of itself. How else could the amount of the national debt of France have risen so enormously during the last ten years A project merely for the reduction of the Fear , and-a-Half per Cents. into Fours could not be carried out until French finance gets into a sounder and more creditable position, and, as compared with the present scheme, would have the fatal disadvantage of not contributing a few millions of ready cash to relieve the immediate wants of the treasury. The fact that the new plan involves a vast addi tion to the national debt of France (though not to its annual cost) is, we think, sufficient to ensure its condemnation by sound economists. There is no mistake about the proposal, as wham the fol• lowing description given of it by M. Gooriv, the official reporter on the scheme before the Chamber, and himself a financial authority ;---" In exchange " (says M. Gomm) for his security of loof. of ' " nominal capital, producing 4f. 50e. of interest " per annum payable half-yearly, the Government " offers the reislier a new security, also producing " 4f. SOc. of interest, and representing a nominal " capital of 150 f., since that security will be " 4f. 50c. of Three per Cent. 'tante instead of " 4f. SOc. of Four-and-a-Half. The interest will "be paid quarterly, and the fear of a reduction 1 " in the dividend will completely disappear, as " the Government can only effect a reduction by " offering the integral reimbursement of the nomi " nal capital, or loof. for 3f. Bente." It is impossible to help forming a very poor estimate of French financiers, as well as serious forebodings respecting the future of French finance, when we find an impolitic scheme of this kind sought to be justified by a jargon such as we should have thought could have imposed on no one. Of this nature is the argument put forward in defence of the Govern ment proposals, that the existing Four-and-a-Half per Cent. Stock " participates in no way in the " elasticity of credit." Elsewhere it is repeated that that stock is "completely beyond the action " of credit ;" and, finally, as the greatest recom mendation of the new plan, the committee repre sented by M. Goya alleges " the amelioration "which will arise from the elevation of public " credit." We confess that, in our dull English way, we do not see where this " eleva tion" is to come from. We should have thought that a Government wishing to " elevate " its credit would abstain from "rigging" the market, and from going, cap in hand, to foreign bankers for temporary loans at high rates of interest, and that a policy which at a stroke of the pen adds 50 per cent. to the nominal amount of a large , portion of the National Debt would have been severely condemned. But they manage these matters differently in France, where the Govern , ment trumpet is always blown the loudest when correct principles of finance are most flagrantly defied. We have only space to refer briefly to another . . subject, a painful one, on which it is important I that public attention should be kept steadily fixed. The distress in the cotton manufacturing districts is increasing, and bids fair soon to prove a severe weight on the local resources. Disasters to manu facturing capital and intense suffering to the vast mass of the operative population form the burthen of the trade reports. This cannot be wondered at, for, while some estimates put the decline in the production of yarns and goods at one-half, others fix it as high as 60 per cent. There seems to be little doubt that the total amount of money paid weekly in the cotton districts is now less than half what it was six months ago. Corrobo- rating what has been before stated in these columns, it is remarked that, while each advance in the price of raw cotton closes many mills, and extends the system of short time in these which continue to work, each rise in the prices of yarns and goods likewise checks the small demand now experienced for them, and makes spinners and manufacturers the less inclined to work "to stock." Meanwhile, at such high prices, little can be done for foreign markets, and, overstocked as they are, the only way to relief seems to be by a severe re pression of shipments. This is a kind of relief which means stagnation of trade at home. THE EXPRESS, MONDAY EVENINO; FEBRUARY 10, 18ft Elie Court. ORBORN'F., Fn. 8. Lieutenant-Colonel the Hon. Dudley de Roe has arrived at Osborne in attendance on bur Majesty. FEB. 9. Princess Helena, Prince Arthur, and Princees Ho henlobe, Wended divine service this morning at Whip pingham Church, where the Her. G. Prothero officiated. A Cabinet Council was held on Saturday at the official residence of the First Lord of the Treasury, in Downing-street. The ministers present were Viscount Palmerston, Earl Granville, Sir George Grey, Earl Russell, the Duke of Newtaatle, Sir Charles Wood, the Chancellor of the Exche quer, the Duke of Somerset, the Right Hon. Ed ward Cardwell, Lord Stanley of Alderley, and the RigLt Hon. C. P. Villiers. Mr. H. I Taylor, chairman ; Mr. de Jersey, Mr. Deputy Merriam, Mr. Cawley, Mr. Gibbons, the Town Clerk, the City Remembruncer, the City Solicitor, and the City Archi tect, a deputation of the Markets Improvement Committee of the Corporation of Loudon, upon the aubjeot of the Metropolitan Meat and Poultry Market, had au interview with the Right Hon. Sir George Grey, on Saturday, at the Home•offce _ _ The Judicial Committee of the Privy Council eat on Saturday. Leave to appeal was granted oa • petition, " Gholaum Itukhdoom and others v. Government," Ben gal ; a petition from Canada, " Marcie v. Alloire," for leave to appeal, sad a petition from Canada, "Macfarlane and another v. Leclaire and another," to rescind leave to ' appeal, were heard. The Lords present were—Lords Chelmsford and Kingsdown, the Lords Justices Knight Bruce and Turner, Sir J. Coleridge, Sir E. Ryan, Sir L. Peal, and Sir J. Colville. Despatches were received on Saturday at the Colonial. office from the Lord High Commissioner of the lonian Islands. Despatches were sent to the Lord High Commiwioner of the lordau Islands, and to the Governors of the FaWand Islands and the North American Provinces. Her Majesty's paddle yacht Victoria and Albert, Capt. Gems H. Seymour, C. 8., la under orders to proceed from Portsmouth to Gravesend, where she will embark bier Majesty the King of Belgium for conveyance to Antwerp, returning thence to England with the Princess Frederick William of Prussia. . . The Marquis and Marchioness of Clanricarde will come to town to-morrow from Portumns Castle, county Galway. The Marchioness of Downshiro and Lady Alice Hill left rolkestooe for the Centiuent, by the South Eastern Company's packet Lord Warden, on Saturday. Thu Earl arid Countess of lleotive have loft the Lodge, Virginia, county Cavan, for 'Thomas's Hotel, Berkeley.square. Lord Crewe ban left his residence in Hill-street, for Crewe Hall, Cheshire. • . . . Lady Eluabath Aderine was safely delivered of • daughter, ea Saturday morning, at her residence in Bee. more-place, Her ladyship and the infant are programming favouranly. The Speaker will give his first parliamentary dinner on Saturday next, at Westminster Palace. • ' A few dart ago the Hon. C. Wrottesley austained a fracture of one of the bones of the right shoulder, while out hunting with the Albrighten hounds. The Hon. Mrd. Dyne Sombre has contributed the sum of 1,5001. towards the erection of • new town hall, and covered market at Stone, Staffordshire. -- Amongst the recent arrivals at Alexandria from Australia is Mr. William Younghtisband, of Adelaide. This gentleman lately occupied for a considerable time the im portant colonial position of Premier in the South Australian ministry. He is also well and favourably known for his public spirit and enterprise in opening up and promoting the navigation of the River Murray, having, with his family, acoornismied Captain Odell upou his first expedition, and succeeded in steaming 1,800 miles up the river. An exciting church-rate contest took place on Friday, at Kirkham, ►sd resulted as follows :—For a rate, 409 ; against, 263. THE PRINet CONSORT MILMORIAL FUND.—The amount subscribed at the Mansion-bow for the ereetion of a memorial to the late Prince Comsat now amounts to nearly 28,000 f. Among the amounts sent on Saturday were the following I—Sir H. Loather, 1001.; the Clothworkers' Company, 2101.; the Earl of RON, 5014 and Lady Moles worth, 211. LATEST INTELLIGENCE. (REM'S TZLZOBLIII AMERICA. QUEENSTOW)I, MoPDAT. The Royal Mail steamship Arabia arrived here at 1.90 a.m. to-day, with 39 passengers and 254,000 dollars in specie. She landed 84 sacks of mails, and proceeded at 1.45 a.m., all well. The Arabia was to have left New York Jan. 29, but was detained until the morning of the 30th by fog. - NEW YORK, JAI. 28, EVINING. (Per Arabia vid Queenitown.) General Burnside's expedition, consisting of over 125 vessels, arrived at Hatteras between the 12th and l'ith instant, where they experienced terrific weather. Misapprehension existed between the leaders of the expedition as to the depth of water in the inner bar at Hatteras Inlet. The steamer City of New York, with a cargo valued at 200,000 dole., struck on the outer bar, and was totally lost. Several other vessels ran ashore, but only three lives were loot. Dates from Hatteras Inlet are to the 26th inst., at which time nearly all the vessels had crossed the bar into Pimlico Sound. The New York Evening Post affirms that it is rumoured in Washington that the Secretary of War had instructed General Lane to arm the slaves, and to employ them in military occupation against the enemy. It is reported that the Confederates will devote their exertions chiefly to placing obstructions in ' the way of the progress of the Federals to Norfolk. According to a Richmond despatch General Beauregard has left Manassas to take the command at Columbus, Kentucky. Gustavus W. Smith re places him at Richmond. Another Richmond despatch considers the Con federate defeat at Mill Spring even more decisive than is represented by Northern accounts. The naval committee of the Senate has issued a report strongly censuring the Secretary of the Navy for appointing Mr. G. D. Morgan to purchase go vernment vessels. It is reported from Augusta that more vessels have been sunk in Charleston Channel. _ . The New York papers defend the plan of sinking vessels at the entrance of Charleston Harbour, stating there is no proof that they cannot be raised at the termination of the war, and attributing the remarks of the European press on this subject to a desire to find a pretext for interference in the American struggle. General Fremont has demanded a regular mili tary trial. General Gorcuria has strived at Washington on important business from the Mexican government. NEW YORK, JAN. 29, MORNING. Mr. Spaulding, from the committee of ways and means in Congress, has spoken on the Govern ment Demand Note Bill. He argued in favour of the constitutional power of Congress to issue demand notes, making them a legal tender, if the war continued, until July, 1863. " The public debt," said Mr. Spaulding, " will be 1,200,000,000 dollars, including the floating debt." This estimate exceeds that of the Secretary of the Treasury by 300,000,000 dollars. Mr. Spaulding urged Con gress to use their power of taxation so that the whole property of the country would be held for their redemption. He said that an early and successful advance of the army was of the utmost importance, and that the passage of the bill was necessary to sustain financial credit and prevent foreign interference. It is reported from Cairo that the Confederate General Jefferson Thompson has been captured. Great excitement prevails at Newbern iu antici pation of an attack from General Burnside's expe dition. Roanoke Island has been fortified. The New York Times states that the report in Congress ou the Canadian Recipocrity Treaty will suggest many changes, making it more favourable to the United States. The Glasgow, North American, Europa, and City of New York have arrived out. The City of Manchester sails for Liverpool this morning. It is reported that the privateer Calhoun, being chased by a Federal steamer, was abandoned and burnt. NEW YORK, JAN. 30, Rowse. Two divisions of the Federal army are moving on Springfield. Letters from Port Royal indicate the probability of an early attack on Savannah. Congress has passed the bill authorising the President, under certain circumstances, to take possession of railways and telegraph offices. Mr. Gurley has, in Congress, strongly denounced the inactivity of the army, and said that he con sidered it impossible for one man to command effi ciently so large an army as the present Federal army. The New York Evening Post says that it will be proposed to pay interest on government notes in specie. The house committee on foreign relations has authorised contracts of 500,000 dollars for the manufacture of ordnance for the coast defences of Massachusetts. COMMERCIAL INTELLIGENCE. NEW YORK. JAIL 28, Evvrixo. Money easy. Exchange very dull at 113 k. Gold slightly firmer at 1031. Stocks lower. New York Centrals, 83/ ; Erie, 341; Illinois Central, fill. Cotton firm and advancing; Middling Upland, 33c. Flour unchanged. Wheat dull. Corn steady. Provisions quiet. Coffee steady. Sugar well inquired for. Molasses steady. NEW YORK, Jar. 29, Evirunto. Money abundant. Exchange is dull and un settled at 1131. Gold is quoted at 31 per cent. premium. Stocks firm and advancing. New York Centrals, ; Erie, 35/ ; Illinois Centrals, 621. Cotton slightly firmer. Middling Upland, 33c. Flour dull. Wheat inactive. Corn heavy. Provisions quiet. Coffee very firm. Sugar unchanged. Molasses steady. LIVERPOOL, 801FDAT. The Montreal Ocean Mail steamship Hibernian, Captain Grange, from Portland, Maine, on the 27th, arrived in the Kelsey at 10.40 this morning. The New York Times despatch from Washington on the 27th ult., says :—" Raysokla, the agent sent by the deceetery of the Treasury to Port Royal, bad a long inter view with Secretary Chase last night. He says he has already secured about a million dollars' worth of cotton ; he has now in his employment about 3,000 negross, who are at work on different udsads gathering cotton. They are badly clothed, and one of the objects of his mission is to procure 3,000 or 4,000 suite of clothe*. He also wants four or five good physicisus. He says the Degrees work very well, and attend to their labours properly." Delegate* assembled at Great Salt Lake city on Januery 21, and drew up a stale conetbutios. Utah " demands admission into the anion." RUSSIAN REFORMS. A letter from Et. Petersburg gives an analysis of a lengthy and important address which the nobility of the government of Moscow have just presented to the Emperor. They dwell upon the immense evils which at present exist in the administration of public affairs, arising especially from the insa tiable rapacity of all government employis, from the highest to the lowed. Amongst other reforms for which they petition is the publi cation by the government of a state budget (this his since been conceded), and the convocation without delay at Moecow, the centre of the empire, of a national and general assembly, composed of deputies, of nobles, and of landed proprietors, named in the proportion of two per government, to discuss thoroughly the means of obtaining a better administrative organisation, also questions as to the tribunals of justice, taxes, general finance, &c. EXPRESS FROM PARIS. FRENCH FINANCE. (nom OUR OWN 00UNSPOIDIMI PARIS. SUNDAY Brum°. The bill for the conversion of the Four-and-a- Half per Cents. is voted, but it does not follow as an absolute certainty that it will succeed. The 300 millions of francs which it was at first estimated the government would get by the transaction are fast dwindling away. The meat sanguine partisans of the measure now scarcely look for more than 150 1 millions, and by many the Spire of 100 is named as the outside likely to be obtained. After the dis closures made in the course of the debate it must I be considered a very serious question whether, even for the sake of the highest of the above conjectural sums, it was wise to sacrifice the large prospective advantage of reducing the interest of the Four and-a-Half per Cents., to provoke excitement, if not alarm, among a large class of stockholders, and to encourage gigantic and scandalous gambling for the benefit of a few banking houses acting in complicity with the government. The argument that the unification of the debt, by relieving the Three per Cents, from the rivalry of the Four-and-a-Half per Conte., must naturally raise the Three per Cents. to an extent far outeet ting the sacrifice now made by the government, finds a formidable reply in the allegation, based upon experience, that once the desired operation effected, and the artificial means now used to prop up the market withdrawn, there would inevitably be a heavy fall in the funds. In this point of view there is no necessary inconsistency in the objection that the measure is at once bad for the public treasury and bad for the fundholder. It may be, and, in my opinion, will be, bad for the state, as being a disguised loan on onerous terms, and bad for the fundholder, who will be deluded by the jack-o'-lanthorn held before him of a great rise in the value of his securities, which will fade into thin air as soon as he has done what is required of him. The only argument that could influence a rational holder of Four-and-a-Half per Cents., via., that if he did not accept the proposed conversion the government would pay him off at par, is pretty conclusively shown to be an empty threat. In the present state of French finances, the government is certainly unable to exercise its undoubted right of converting the Four-and-a-Half per Cents. by the legitimate operation of reducing the interest, or paying off the debt. M. Emile 011ivier, in the debate of yesterday, made some very striking observations. He assert that the rise in the Three per Cents. was factitious, and the result of operations under taken by the government in concert with a syndicate of bankers. The result of this pressure was that when, for the purposes of this operation, the government offered the public Rente at 71fr., it was not really worth the money, and the contract was a fraud. He attacked the precedent of M. de Villele's attempted conversion in 1825, and quoted at some length a speech which he attributed to M. Fould in 1840, against the principle of M. de Villele's measure. [lt was subsequently statel that M. Fould had no seat in the Chamber of Deputies till 1843, and that the speech in question was made by his brother.] Referring to the case of M. Mirbe, he warned the government against exceeding its legitimate powers by achieving a fictitious rise in the public funds, and observed that Art. 416 of the penal code made such an operation a misdemeanour, punishable by imprisonment. M. Mires, who was now lying in prison for that offence among others, had justified his conduct by the example of M. de Vilible. M. 011ivier then read, amidst some interruption, extracts from two articles of the Times, giving particulars of the loan of four mil lions sterling, which the Muniteur denies to have bean effected on the part of the French govern ment, and milled upon the ministers without port- folios to give explanations. He concluded by urging economy as the only true remedy for the financial crisis. The two milliards spent in the wars of the Crimea and Italy—wars which he approved, especially the latter —were, as far as regarded the material interests of the country, just so much money thrown into the sea. It was therefore abso lutely necessary to give the saving power of the country time to recover that capital. To go on after unproductive wars with unproductive expenditure in time of peace, was as if a farmer instead of giving his land proper fellows was to run it out by sowing wheat every year. When M. Fould had the courage to avow the deficit he (M. 011ivier), being naturally of a hope ful disposition, had flattered himself that there was to be a check to building, borrowing, and speeding. He had heard M. Fould blamed for his confessions, but thought for his part that no harm was done by an avowal of faults if there was a sincere resolution to repair them. M. Fould had been compared to Neckar, an honest man, but whose name was synonymous with borrowing at high interest. He (M. 011ivier) would rather liken him to Calonue, with his unproductive ex penses. The minister wanted for the present day was a Turgot, who boldly said to Louis XVI., "No bankruptcy, no new taxes, and no loan." Such a minister would enjoy an amount of national gratitude which would far outweigh the homage of a few speculators. I do not analyse at any length M. Baroche's reply to M. 011ivier, because the government view of the question which he developed with his wonted ability is already familiar to the European public. He answered the objection drawn from the penal code against the operation of artificially propping up the public funds by the assertion that the government was merely keeping them at their natural price, and preventing interested specu lators from putting them down. That is an argument which would manifestly justify any manoeuvres whatever on the part of the govern ment; for who can contradict them when they choose to say that the funds are only at their " natural price 1" As to the London loan, the following is the official text of M. Baroehe's expla nation of it : _ —.--- -- -- . The government has not sought to negotiate a loan in Litho& It has not put heel' in communication with 107 English capitalists, but it may be that French espii.dista who had previously made arrangements with the French government have entered upon negotiations with English capitalists in order to enable themselves to fulfil the en. pgement entered into by them with the Finance Munster, A more pregnant confession of the substance of the thing denied could scarcely be, if there ix any truth in the proverb, " Qui facit per ilium facit per se." When M. Baroche sat down, M. Picard hit the nail upon the head by inquiring what amount of commission was to be paid by govern ment to the syndicate of bankers who had under taken to prevent the Rente from going down. M. Baroche indignantly replied that he would give no information whatever on that subject. The minority of 19 against the bill is considerable, when we remember that 14 out of that number were government nominees. M. Devinck, a great financial authority, voted in the minority. Prince Napoleon has asked the Prefect of the Seine to ootain from the municipal council a vote of 20,000 fr. for the purpose of sending working men to see the London Universal Exhibition, and has promised the aid of a like sum from the funds of the committee of which he is president. PARIS. SATURDAY EYLIDRI. Marshal Magnan, the new Grand Master of the Freemasons, was inaugurated this evening with ex traordinary pomp, at the Central Lodge, in the Rue Cadet. Whatever dissent may exist in the craft touching the manner of his appointment— and it is notorious that there does exist a great deal—nothing but harmony was apparent on the face of this day's proceedings. No Grand Master elected in the usual way by the voice of the brethren was ever received by a more numerous meeting, or with greater applause, than the Marshal of France, who by the sic role sic juice of the Emperor presented himself to-day to rule over the French freemasons. The grand hall being laid out for the banquet, the installation took place in the minor temple, which though a very large room, was too small to oontain all the brethren who sought an entrance. The ante-rooms were painfully crowded during the whole of the ceremony. About 400 sat down to a splendid banquet. Marshal Magma took occasion to say in the course of the even ing that he meant to enforce unity in French freemasonry, and that all dissident lodges would be dissolved. In proposing the Em peror's health he averred as an existing fact, what the great King of Prussia had only suggested as an hypothetical idea, that not a cannon could be fired in Europe without the consent of France. At dessert the marshal walked round the tables and shook hands vigorously with every man present. This adroit condescension was highly successful, and many who lament the origin of the marshal's masonic power are of opinion that his agreeable manners and fair professions of an intention tocarry out the rules of the craft as sincerely as if he had been elevated by the voice of the community, will make him very popular. I mentioned yesterday that the snow melted as fast as it fell, but in the night a frost set in more severe than any we have had this winter, and it has been freezing hard all day. ABOLITION OP THE SEPARATION SYSTEM IN ST. PANCRAS WORKHOUSE. At the lent weekly meeting of the directory of the poor, Mr. Churchwarden Stockton in the chair, a coop mitten appointed on the 17th of December last to consider and report whether arrangements can be made whereby all married couples in the workhouse over the age of 60 years, of good character, and settled in the parish or irremovable therefrom, can live together, presented their report, It dated that the committee hail duly considered the subject, and they submitted • return of the number of married couples in the workhouse who were above the age of 60 years. In order to ascertain whether similar accommoda tine is provided in other metropolitan workhouses, they had received a vast amount of information from several of the masters, and • cub-committee proceeded to the City of Lon don Union, and found the accommodatiou of a very impe der character, • day mom being provided 41 feet by 16, and 11 feet height, with two fireplaces, each couple being provided with two large Windsor arm chairs and • round table, the bedroom being 14 feet by 8. The women were employed in mending stockings, and the men, when able, assisted about the house. On inquiry, the com mittee were informed that all lived harmoniously together, and that it had no tendency to increase the number of married couples. There were eighteen couples in this union living together. At the second meeting an enlarged sub- committee proceeded to the Wandsworth and Cla ph am Union, and found that a large ward had been divided into eight sleeping compartments, 8 feet by 7, with • mutation only between, 8 feet high, which they deemed objection. able. The present master had been hi office five yeses, and stated he had never known the married couples to fall out with each other ; on the contrary, they appeared grate. fill for the favours shown them, and in his opinion it had no tendency to increase the number of aged married tee, couples, or induce them to come into the union. The commit hay. dug previously inspected Wards No. 162 and 164 in the workhorse of St. Pancras, felt that it was unnecessary to inspect other unions, inasmuch as for a small outlay arrangements could be made whereby couples could be accommodated in a far superior manner than is afforded at the Wandsworth and Clapham Union. The committee, there- fore. recommended the directors to fit up Ward N 0.162 asa dormitory. and 164 as • day-room, both wards being in the sontheru wing of the main building. The committee also recommended that a partition seven feet high be placed at the corridor separating these two wards from the long corridor. The report was acumipanied with • retort' of some 20 married couples above the age of 60 years, who, with oue exception, expressed their gratitude for the pro. posed change. In this latter instance both the man and the woman were 80 years of age. The former was described as very feeble, and in ill health, whilst the wife was in good ' sad robust health, and there was appended a note that she refused to live with her husband, and declared that if she Wan locoed to do so she would kill him. The report was unanimously adopted, arid the arrangements ordered to be carried out. How many times (says the Illustrated News) have we laughed, even to the aching of our sides, at the merriment of "Mr. L ire, the Polyphonist," the lamentable ventriloquist, who could fry eggs and bacon to the life be hind the scene, and make the black boy draw a cork in a cellar 10 feet below the level of the stage, and all without moving a facial muscle ? It pains us to hear that the old friend of our schoolboy days is sick, and well nigh paralysed, and poor. Hind-hearted Mr. Greenwood, of Sadler'. Is organising a benefit for him. The Dublin Court of Chancery was oocupied part of Friday and Saturday with the estates of Mr. Smith O'Brien. The Lord Chancellor dim:elated the petition of the trustees, sat maids the trust deeds of 1848, and confirmed the deed of 1861, by which the eldest son becomes pos. erased of the property, paying his father 2,0301. a year during his We, as well as charges for the support of the younger children. Mr. Smith O'Brien was cheered on leav ing the court by a crowd assembled in the hall. Tho Dublin Nation gives prominent notice to a Yankee production of a more than average tone of crazi ness, the Irish people being recommended in it to depend for the restoration of their nationality upon the co-operation of 200,000 Irishmen in the Federal army, 100,000 in the Confederate army, and 500,000 mere in sonic indefinite place in the new wore 1, perhaps in Dixey's laud, who will be forthcoming, one said all, when they have nothing of more moment on hand, to realise the dream of O'CounelL All this is addressed to the O'llonoghue, and the Notion con siders it " well worthy of attention." Dr. Lethehy recommends the following method of detecting the presence of arsenic in wreaths and dresses: — "Put a drop of strong liquid ammonia (liquor ammooke, the druggist calla it) upon the green leaf, or dress, or paper, end if it turns blue, copper is present, and copper is rarely, if ever, present in these tissues and fibri,m without arsenic being also present —the green compound Wing arseuite of copper. I have tested papers end dresses in this manner more than a hundred times, and have never failed to dis cover arsenic when the ammonia changes the green into blue. It is therefore indirectly • very reliable test ; mad if every lady would carry with her, when she is shopping, a small phial of liquid ammonia, in stead: of the usual scent bottle, the mere touch of the wet stopper on the suspicious green would betray the arsenical poison and settle the bud. nese immediately." In its sitting on the 4th inst., the committee on petitions in the Prussian Chamber was occupied with the question of the Spanish protestant'. The commissioners of the goverumeut announced that the Prussian ambassador at Madrid had protested to the Spanish cabinet against the barbarous sentence, and had claimed the support of the English ambassador. The Minister of Foreign Affairs had al*o invited the English government to join in a common representation, while the Prussian ambassador las been directed to continue his effort" at Madrid on behalf of the soadanasd.