The Press. — London, England, 1857-05-30 00:00:00

MAY 30, 1857 consist of the commonplace productions of the various distinguished artists, the masterpieces being reserved for a select collection. I knew at Rome (said the Cardinal) a Scottish artist who had attained to great power of discrimination, and who used to affirm that among artists there was as much difference in the manner of making their pencil-strokes as there was among writers in making strokes with their pen on paper. This gentleman, Irving by name, was believed to be able by this test alone to allot to its author a picture by any one of the scholars of Raffaelle. The late Mr. Pugin caught sight, from the window of his cab, of an Albert Darer displayed for sale as he was rapidly hasten ing to catch the train, and without a second view of the picture effected its purchase by letter, and afterwatds found it to be a genuine work. The painting of the reclining Magdalen, by Cor regio, the property of Lord Wart, and now exhibited in Alatiehester, was alluded to as an apposite instance of the accuracy with which good judges can detect the touch of well-known artists. That painting was exposed for sale in Koine for a very low price, every part of the original having been painted over except ing a small portion of the hand. An artist who well knew the touch of Corregio concluded from that small uncovered spot that the painting must have been done by that great master. He purchased it, and having removed the surface colouring, lie was delighted to see the perfect original beneath. In the next lecture, to be delivered on the 3rd of June, the second part of the subject will be con sidered. • , 4 _ , To show in how small a degree the existing National Gallery comes up to the condition of exhi biting specimens of the different schools of art, Car dinal Wiseman stated that the Italian paintings comprise seventeen distinct schools, and upwards of 600 distinguished artists ; whilst our National Gallery contains only fifty-one specimens, and several of those are by the same artist, so that the number of different artists, represented in that gallery does not amount to more than one-half of those of the Florentine school alone. Cardinal Wiseman alluded at some length to the difficulty of ascertaining the genuineness of any painting, and he mentioned several curious instances of artists themselves having been deceived by copies of their 0111 paintings : THE CAVALRY COLLEGE, RICHMOND. Om Monday afternoon the foundation-stone of an institution long needed in the British service was laid at Richmond, under the most favourable auspices. The object is one which almost speaks for itself—to give a sound practical knowledge to suc:► gentlemen as intend to enter the cavalry service as a profession, and to supply that knowledge the absence of which during the late war made the chi valrous courage of our mounted troops almost a synonym for waste of life. The new college close to Richmond green is founded under the most distin guished patronage, including, of course, all the leading cavalry officers of the day and a large number of the aristocracy, who take a warm interest in all that relates to the efficiency of that branch of the service. Among others present on Monday were the Duchess of St. Albans, the Earl of Essex, the Ladies Pelham- Clinton, Lieutenant-General Lord Downes, Lady Raglan, Viscount and Viscountess Combermere, Colonel Douglas, and upwards of 304) general visitors, specially invited to assist at the ceremony. Lord and Lady Combermere having inspected the lecture-hall and spacious riding-school already erected in the ground round the college, the noble visceuntese was conducted to the site of the new building, and the ceremony of laying the first stone took place amidst a flourish of trumpets and enthu• siastic cheers. Before the stone was laid Mr. Stocqueler read an address to her ladyship, which, after referring in high terms to the military achieve ments of the field-marshal, pointed out the necessity which existed for the institution about to be founded. Lady Combermere briefly replied, and as soon as the ceremony of the day had taken place, thevisitors partook of a sumptuous dejeuner. The usual loyal toasts were given and enthusiastically received, and in responding to the health of Lord and Lady Combermere the field-marshal said that he most cordially approved the principle of the Cavalry Col lege, and knew that it was thought of horefully at bead-quarters. He trusted that its beneficial effects in the service would be, soon evinced and lasting in their operation, and he considered it as of vital im portance that professional occupation should fill up the time that elapsed between young men leaving school and entering the service. He trusted that infantry officers who looked to being majors and adjutants would attend the college, if only to learn to ride. After the dejeuner quadrille parties were formed in the lecture•hall and under a marquee on the lawn, and dancing was prolonged with much spirit till an advanced hour of the evening. From the drawings of the new college it is evidently intended to be a handsome and spacious building, in the Romanesque style. Mr. Broadbridge, the archi tect, hopes to have the centre portion (which will accommodate fifty pupils) finished by September. T HE PRESS. HER MAJESTY'S BIRTHDAY. THE celebration of her Majesty's thirty-eighth birth day having been fixed for Tuesday last, the day was observed as a general holiday at all the public offices. The household troops were inspected by the Commander-in Chief on the parade•ground, St. James's. The troops at Aldersliott were inspected by General Knollys, and at noon the usual royal salutes were fired by the Park and Tower guns in London, and at the different fortresses and garrisons throughout the kingdom. The inspection at Alder shott promised to be the most attractive event, but the foul weather considerably marred the pleasant ness of the day, and induced the General Command ing to alter the arrangements from a sham fight to less important evolutions. A little before two o'clock the troops in camp were under arms, and after the usual parade inspection in front of their huts, upwards of 14,000 men of all arms began to move across the common towards the long valley. With the exception of the usual camp guards from each corps there were out two com panies of the Royal Engineers, three field batteries, two troops of Horse Artillery, the 15th and 7th Hussars; two companies of the Grenadier Guards; Ist battalion of Coldstream Guards; the Rifle Brigade, Ist, 2nd, and :trd battalions; the 22nd, 54th, 66th, 19th, 88th, 20th, and 97th Regiments, with some of the Ist battalion of the Military Train. An immense concourse of spectators had by that time collected, and were fast pouring in from the sur rounding neighbourhood. As usual the most picturesque feature of the day was while the troops were en route to the long valley ; the dense sombre columns of the Rifles contrasted finely with the bright hues of the Line Regiments, Guards and Cavalry, while the long trains of Artillery on the flanks seemed like a massive frame to the bright picture in the centre. All the in fantry marched to the ground in open columns of companies —the cavalry and artillery in troops, and troops of batteries. The whole moved across the long valley and formed for a short time in the slope of the long hill in close column, looking at the distance as if rich pastures had suddenly sprung into bloom across the barren heath. When General Knollys came upon the ground the columns were deployed into a line two deep and nearly a mile and a half in length, tapering away into a distant streak of red which twinkled with the glitter of bayonets. In the centre of the huge semicircle a double line was formed by the Guards, Cavalry, and Horse Artillery, with the field batteries, in front of all. The latter having fired the usual royal salute, the Minks of the whole force rose into the air as if by magic, and the feu de joie commenced, at first with a confused hoarse rattle, but gradually swelling into one tremen dous roar, which filled the air and seemed to make the very plain vibrate and throb beneath its thunder. ing din. Three times was this imposing volley given, the echoes of one scarcely dying away ere another was commenced, the royal salute of the day—the men's }warty cheers—winding up the whole. The inspection in St. James's park took place at an early hour (ten o'clock), and was soon terminated. At Woolwich the garrison was under arms, and the various regiments were paraded on the common before the General Commandant, Sir William Williams ; at Chatham, Sheerness, Portsmouth, Ply mouth, and Stonehouse the troops were all paraded by the Commandant, and royal salutes fired from the forts and ships of war. In the evening, the usual official dinners were given by Viscount Palmerston and her Majesty's Ministers, and principal officers of State. The illuminations were more general and brilliant than usual. They were. not confined to her Majesty's tradesmen, nor to the great thoroughfares of the West-end, but were extended to districts where the Royal Arms are rarely to be seen. The principal scene of attraction was of course St. James's-street and Pall mall, but Regent-street, Piccadilly, and Oxford street, Sze., offered great attraction to the thousands of persons who thronged the streets to a late hour. lone, glarhet anD Citg 3nittligenct. FRIDAY EYZNING. THE return of the Bank of England for the week ending the 23rd inst., shows the following cidinges compared with that for the week preceding : Decrease in Circulation £143.142 Decrease in Public Deposits Decrease in Other Deposits Decrease in Government Securities 2,910 Decrease in Other Securities Decrease in Bullion Increase in Rest .... Increase in Reserve Bullion iu Both Departments Circulation, including Bank Post Bills 539 The changes shown by this comparison possess consider able importance. The falling off in the Bullion is not large, but it was scarcely expected, and it is not likely to be reco vered by the publication of the next return. As to the Reserve, the increase is satisfactory; the notes in the till now exceed four and a half millions. At the same time the comparison bears ample evidence of the activity of the demand for money, inasmuch as the advances made by the Bank on Private Securities have been largely reduced, and the inquiry created out of doors for the means to make these repayments has diminished the Private Deposits more than half a million. The Private Deposits, indeed, have now fallen to little more than 9,00u,0001., a less amount than for a long time past; and the Public De posits show a decline, owing to the payments on account of the public service having temporarily exceeded the re ceipt of revenue, a circumstance not unusual about this period of the quarter. Altogether the return is not un satisfactory, for, notwithstanding the changes which it discloses, the position of the Bank with regard to its notes and coin is certainly stronger. Less perplexity has been felt in the Money Market this week than in the last ; but there is still an uncommon degree of sensitiveness as to its future condition. This feeling has prevented improvement, particularly as it has been associated with an active demand both upon the Bank and in Lombard•street during the last three or four days, mainly, it is thought, in connection with the ac ceptances at maturity next week, for ordinary trade has not sufficiently improved to require more than ordinary advances. The pressure from the middle class of traders, dealers, and maitu'ecturers, is, nevertheless, extremely severe, and whatever assistance is rendered to them is paid for at a high price ; the inconvenience, however, is chiefly felt in the country, and is only partially known here by the reluctance of the great wholesale houses to take any but the very best bills. Yesterday, and again today, there was an appreciable degree of anxiety in monetary circles, owing to a further rise of live per cent, in the value of dollars at Shangh , d, where the rate of exchange has ad vanced from 7s. to 7s. 4d. This will naturally give a powerful impulse to the shipment of silver, the supply of which in this market is all bought up, and orders have been transmitted to the Continent to effect purchases there. This state of the silver market will necessarily require a corresponding export of gold. and of course our reserves are likely to be affected by it unless we have speedily some heavy arrivals from Australia. l'o these causes of anxiety and motives to caution must lie added another in the state of the Money Market at PdliB. The distrust caused by the failure of M. Thurneyssen is by no means abated; indeed it has been rather strengthened by the publication of an injudicious letter from M. Isaac Pereire in relation to that case, which has revived all the considerations front which, in this market, the Credit Mobilier is believed to be based upon an unsafe and danger ous principle. Whatever may be thought -if the Credit Mobilier in Paris it can never be popular in London ; and any discussion provoked by its friends is sure. so fur as opinion is concerned, to awaken a host of prudential feelings with reference to every class of its engagements and connections. Certainly it has been so since the ap- pearance of this letter; so that what with the aspects pre sented by our own trade and our own markets, and the suspicions as to the soundness of things In Paris, it is not surprising that capitalists are showing a good deal of sensitiveness. Rates, as may therefore be expected, are very firm and rather hardening. To•day the demand was again active, and in the Stock Exchange seven and a half per cent. was required fur short loans. The specie movements during the week have been rather important, though the expected arrivals front Australia are still delayed. The imports have amounted to nearly 400,0001., including 72,000 sovereigns from Con stantinople for the Ottoman Bank. The exports have ex ceeded 100,0001. Of the balance, about 1(10,0001. has been taken to the Bank, and the remainder for the Continent. The Bank, however, has parted with more than an equal amount of gold, which has been sent to Brazil, Malta, and the Cape. The silver to lie sent to India and China by the packet of the 4th is expected to amount to one of the largest, if not the largest, shipments on record—between 900,0001. and 1,000,0001. Silver has advanced id. per ounce since the receipt of the telegraphic despatches announcing the state of the exchange with Shanghai. The Continental Exchanges have been firm, but to-day they were all rather lower. Several failures have taken place during the week, the most important of which is one at Liverpool of a party engaged in the American provision trade, with liabilities to the extent of 100,0001., and very indifferent assets. Consols have not improved since this day week, but they would, in all probability, have been considerably better had not the market been adversely affected by the present and prospective demand for silver. Last Friday they closed at 93f to 4, and they hail yesterday attained to 944, just when the unfavourable exchange with Shanghai became known. This threw them back to 034 to 94, at which they left off, officially. During the week there has been some heavy selling by the Greek operators, but quotations have never descended below 93f to 4. Today they opened at 931 to 94. but money sales, said to be on account of purchases of silver to be transmitted to China by the packet of the 4th, caused a decline, and they left off flat at 934 exactly. For the July account the present price is 944 to 4. The purchases of Exchequer Bills at the rate of 30,0001. per diem have been daily made by the Government broker on account of the savings•banks, but today they cessed. The premium has consequently improved to 4s. to 7s. The advertised descriptions stand at 2a. to 4s. prem. Railway Shares have fallen one per cent. since this day week, and some descriptions lower. liminess has been extremely inactive, owing portly to this being the week of " the isthmian Game.," which have attracted numerous !umbels of the house to Epsom Downs. and to the settlement, which was brought to a close yesterday.