The Press. — London, England, 1858-04-24 00:00:00

believed it was true that the question of the abolition of the rate was not one of amount, but rather one of a political character. Viscount Dungannon said it would give the greatest satisfaction when it was known that such a declaration as they had that day heard had been made on behalf of her Majesty's Government—that the bill which had been intro duced to abolish the rate would not be allowed to pass. Such a statement must create a strong mani festation of feeling as had scarcely ever been known —and would greatly gratify not only the whole of his lordship's supporters, but also the whole of the clergy of the Established Church. The deputation then retired. BANQUET TO HIS EXCELLENCY THE DUKE OF MALAKOFF. His Excellency Marshal Pelissier, Duke de Mala koff, was entertained on Thursday evening by the members of the United Service Club at a manificEnt banquet at their Club-house in Pall-mall. Since the visit of Marshal Soult to this country in 1838, when that veteran of the French army came as Ambas sador Extraordinary to the coronation of the Queen, no similar ovation has been given to the represen tative of a foreign sovereign such as the Duke of Malakoff received on this occasion. - His Royal Highness the Duke of Cambridge, attended by his aide-de-camp, Lord Burghersh, arrived shortly before eight o'clock, and was cordially cheered by the people as he passed from his carriage. Marshal the Duke of Malakoff, accompanied by Lieutenant-Colonel Appeit and Commandant Duval, aide-decamps to his Excellency, arrived punctually at eight o'clock, and was ushered to the saloon, where the members gave the distinguished guest a hearty reception. At a few minutes after eight the Duke of Cam bride and the Duke of Malakoff passed into the banqueting-room, followed by the noble and gallant officers, members and visitors of the club. The banquet, which it is almost needless to remark was of the most sumptuous description, was served in the large coffee-room of the club. The Duke of Cambridge presided on the occasion, supported by the Duke of Malakoff. At the second tables the following members officiated aa vice•presidents :—Colonel W. Blois, Lieutenant. General John Aitchison, Colonel Richard T. Gilpin, Rear-Admiral Rodney Mundy, Rear•Ad rniral Lord George Paulett, and Lieutenant-Colonel Westenra. Covers were laid for 150 persons. The visitors, in addition to the gallant Marshal, were—Baron de Malaret, Madame Morincault, and Comte de Jaucourt, of the French Embassy; Lieu tenant Colonel Appert and Commandant Duval, Aides•de Camp to his Excellency ; and Lord Burghers)), Aide de-Camp to his Royal Highness the the Duke of Cambridge. After dessert had been placed on the table, the Duke of CasmninoE, as chairman, gave " The Health of her Majesty," which was drunk with the cu..tomary honours. " The Health of the Emperor Napoleon 111. and his illustrious Consort " was proposed by the Royal Duke, and drunk amid warm applause. His Royal Highness said he had himself a particular satisfac tion in proposing this toast, for if ever there was an individual who had received marked attention from his Imperial Majesty, he was that individual:— He had had opportunities of conversing with the Em. peror under all kinds of circumstances, and at moments of entire privacy, and he could most conscientiously state that every expression and every sentiment of his Imperial Majesty was in consonance with the public opinions he had expressed of the great value of the mutual alliance of France and England. He for one attached great im portance to that alliance. He was deeply sensible of its importance, whether In peace or war, and therefore nothing gave him so much satisfaction as recording his hope that this alliance might endure till the end of time. Though there might be little differences of opinion —and differences of opinion would arise in the management of even the same political systems—he was confident that alliance would continue, and fructuate to the good of the universal world. His Royal Highness concluded by proposing " The Health of the Emperor and Empress of France," which was drunk• with great enthu.ia,sm. His Excellency the Duke of MALAKOFF, when the cheering had subsided, acknowledged the toast in the following terms:— Monseigneur et messieura, Le toast gas von, venez de porter i l'Empereur et a l'lmperattice lour sera partieu lierement agriable; et, ma conviction se fonde pro. fundament sur lea paroles sympathiques prononcees par won Souverain quand j'ei eu l'hbrineur de me separer de lui pour aborder les cotes de la vielle Angleterre. His Royal Highness next propcsed "The Health of his Excellency the Duke de Malakoff," a toast received with loud and hearty cheers. His EXCELLENCY, aho was received on rising with renewed cheers, said : Monseigneur et messieurs, Je sous sais nn gre infini tits bienseillantes expressions que coos m'sdreseer, et je PIE S S, APRIL 24, 1858. Tons en remercie en tonte sineerite. En appraissant au milieu de vous, j'ai la confiance de rappeler aux dent pays le souvenir le plus glorieux de lour alliance, ec mon plus vif desir, croyez le bein, est d'être acueilli comme le sym. b le dune politique loyale, digne et ferme. Ma conduit toujours sera degagee d'arriere pensee ; et je ne cessersi d'en puiser le mobile dans cette grande itlee, qu'apres avoir eu tent d'occasions de l'estimer en face ou eke a cote, une alliance solide et durable entre deux grande peuples implique la condition neeessaire que I'honneur de ne soil jewels sacrifie a I'honneur de l'autre. Je viens a vous Tons tendant une main bein amie; j'y viens plein de respect pour vos institutions et pour votre gracieuse Souveraine ; et c'est de tout cwur que je m'associe de nouveau au toast pone a son auguste personne, et que je bois a la prosperite de l'Augleterre, et it la perpituite de son alliance avec le noble pays tine je represeute parmi vous. The Duke of CAMBRIDGE next proposed the " Armies and Navies of England and France," formerly pliant foes, and well conscious of each other's merits ; but now, having stood together, he hoped they would long and always continue to do so. His EXCELLENCY acknowledged the compliment as follows Vous venez d'aecorder de loyauz eloges I l'armee et Is marine francaises ; elles y seront seusibles, n'en doutez point, et ssuront retrouver dans les nobles souvenirs que vous egoquez tout ae qu'elles portent de cordials estime et de fraiche consileratiou u l'aruis eta marine britan niques. the Duke of CAMBRIDGE followed with a few brief and forcible sentences on behalf of the British united services. His EXCELLENCY presently rose and said : Monseigneur, Je suis heureux de voir que Votre Altesse Royale preside la noble reunion que rn'sdrnet aujourd'hui dans son sein ; je suis heureux d'y revoir, au milieu de tant de freres d'armts, un des premiers soldats de l'armie de Crimee, un amide l'artuee francaise ; et je me livre l'espoir que si nous somtues assembles sous les auspices de l'union, (wile qq ii doit regner entre nous sera desor mais iternelle. Permettez moi un toast sincere it Votre Altesse Royale. The Duke of CAMBRIDGE acknowledged the honour conferred on him. He could truly say that no one had a higher admiration than himself of the French army and navy. He had seen its gallantry and devotion in war, and shared its good feeling in the peaceful vales of Chalons. The concluding sentence of his Royal Highness's address was lost in the uni versal applause which acknowledged the sentimeLt, and in the midst of this pleasant excitement the party retired to the drawing-room. Befote leaving the banquet-room, the Marshal ob served that, although his ignorance of the English language prevented him from knowing exactly the meaning of his Royal Highness's word-, he bad understood them with his heart if not with his ears, and lie could not better express the sentiments with which they inspired him than by asking of the Duke of Cambridge permission to give him "a hearty shake hands," as he could not do so with all the illustrious officers then present. This extempore incident pro duced great enthusiasm. The Duke de Malakoff retired at a quarter to twelve o'clock, shortly after which the Duke of Cam bridge left, which was the signal fur a general break up of the party. THE TRIAL OF Da. BERNARD was concluded last Saturday. Lord Campbell summed up strongly against the prisoner, but the jury, after a brief con sultation, returned a unanimous verdict of " Not Guilty." The announcement was received with considerable applause by a crowded court. On Monday Dr. Bernard, who was still detained in prison under further charges, was liberated on bail, and since that period the Government have aban doned the prosecution. MR. TOWNSEND, M.P. for Greenwich, and a bank rupt, has offered his creditors two shillings in the pound. The offer has been accepted upon the under standing that a subsequent annual payment of 2001. be made. THE INQUEST ON THE MURDER NEAR TAUNTON has resulted in a verdict of" Wilful Murder" against the grandson of the murdered couple, John Baker Bueknall. glom #larket anD itg nteiligence. FRIDAY EVENING. THE return of the Bank of England for the week ending Wednesday last, the 21at inst., shows the following changes compared with that for the week preceding : Increase in Circulation Increase in Public Deposits Decrease in Other Deposits Increase in Government Securities Decrease in Other Securities Increase in Bullion Increase in Rest Increase in Reserve Bullion in both Deparimerts Circulation, including Bank Post Bills The principal features in this comparison are the increase in the Bullion and the Reserve, and the large diminution AM in the amount of Private Securities. In all these re spects the tendency is obviously towards the Bank offer. ing money at a lower rate than three per cent. Th e d e . crease in the Other Deposits is caused by the repayment, on the part of the East India Comp any , of 9 00,6001. borrow' cd upon the security of its Bonds, and there is, of coarse, s corresponding diminution in the Private Securities, which are now at a lower amount than for a very long time peat. Money has been in most ample supply, and the rates have practically declined to two or two and one•eighth per cent. in the open market. Lombard-street has conse• quently been doing more business than the Bank, where the minimum is still maintained at three per cent. This state of things has been produced, in the first place, by the payment of the dividends having largely added to the unemployed reserves of the discount establishments; and, in the next, by the East India Company having repaid to the Batik, out of the twenty-per -cent. instalment upon the Debenture Loan, a sum of 900,0001. towards liqui dating the 2,000,0001. borrowed during the finaueidl pressure created by the mutiny. This operation, while reducing the amount of Private Securities held by the Bank, has swelled the aggregate of unemployed capital. So that at the present moment, while there is only a very limited commercial demand, the situation is favourable for a reduction in the rate of discount, by whicli alone, it is believed, the inquiry, under existing circumstances, can be stimulated. Such a measure was partially expeettd yesterday; but, judging from the state of the Rank accounts as given above, and from the tendencies of the market, it seems unlikely that the Directors will defer the reduction beyond next week. I The market has also been favourably influenced by the financial statement of the Chancellor of the Exchequer. Up to the very hoer at which it was made, wrong opulions were expressed that the right hon. gentleman would find it impossible to produce a satisfactory budget, and it was confidently believed, in quarters of high financial autho rity, that he would obtain for Lord Derby's Government good deal of odium ; because, it was argued, there was no alternative open but, on the one hand, to add to the Funded Debt, and, on the other, to increase the burden of the In come Tax. The countenances of the speculators upon these assumptions were downcast ou Tuesday morning, when they found that one of the simplest and clearr,t budgets ever produced involved neither me nor the other of these measures, and that, without adding to the real taxation of the country, a surplus---certainty small, but still a surplus—was actually crested. The course adopted had never occurred to any one of the prophets of mil, and all their vaticinations were completely upset. The post. ponement of the redemption of the Exchequer bonds, and the repeal of the War Sinking Fund, at once commanded a cordial assent, the reasons for which need not be repeated here. The proposal to equalize the duties cn Irish and British spirits was received with even more than a merely cordial assent ; men asked themselves and each other why a measure so obviously just and necessary had not been thought of before. And the proposition to put a penny stamp on bankers' cheques was received with almost equal favour ; though the bankers and the jobbers and dealers upon the Stock Exchange are moving heaven and earth to procure the abandonment of this part of the plan. The popular wish in the City, however, is that this oppo sition may be defeated. That the Budget, as a whole, has obtained the approbation of the commercial and moneyed classes is proved by the present value of the Funds • and the only point upon which there is a diffe rence of opinion is just such a one as is likely to be the more approved by the public the more it is discussed by the public. In this respect the penny Burnt, on cheques strongly resembles the penny postage and the penny receipt stamps. ',lry arrivals of specie have been reported this week. They amount to 623,5001., of which 113,7001. is from Australia; 41C,8001. from the West Indies and South America ; 74,0001. from the United States • and 21,00)1• from the West Coast of Africa. About 200,0001. has been sent into the Bank. Very little has been sent to the Con tinent. Rather more than 400,0001. is still ea mule from Australia. Silver remains ve.y dull, and it has declined one-eighth since oar last. According to the official return published in the Gazelle this evening, the imports of gold and silver in the week ending the 21st inst. amounted to 713,0151., and the exports to 147,1001. The Continental Exchanges are growing more favour able to this country. They are also better from the United States. Consols, which last Friday closed at 901 to 1, began to show a good deal of firmness after the financial statement had been made; and, notwithstanding a fall upon the Pars Bourse, in consequence of the result of Bernard's trial, and the apprehensions created in timid minds by that eie curnstance, they improved until last night they left off at 961 to 97. This morning they opened at 96 to I ; and the final price was 961 to 07. The Government broker has been almost a daily purchaser of Reduced, but his opera. tions have amounted only to an inconsiderable aggreffete , not more than 70,0001. Railway Shares are nearly all better, though there ore exceptions. The traffics, though they s till compare very , unfavourably with those of the corresponding period of last year, show a progressive weekly improvement , indica tive; that commerce is gradually reviving. Busi ness still inactive ; but investments have been freely made in some of the preference and guaranteed stocks. Banking and Miscellaneous Stocks, including Foreign, are, upon the whole, quiet, without much change. The Indian Loan is very firm at the best prices la week, and large transactions have taken place bot h in d bentures and scrip. At the half-yearly meeting of the Royal Mail Steam Company, on Wednesday, a dividend was declared out per share, and a bonus of le, the latter beiag prevideotfi of the balance on insurance account. The Trade Reports of the week show an improve ment in the demand for most of our manufactures. of