The Press. — London, England, 1857-11-07 00:00:00

THE PRESS, NOVEMBER 7, 1857. exaction, of plunder and extortion, and the only acknowledged agent for all purposes was money. Gold could purchase immunity from crime—it exonerated the murdererer, procured immediate pardon for acts of arson and pillage, and justified the violation of domesticity in its most inhuman and savage phases. But purses went to the Seraglio and all was right. Under such a state of things the natural resources of the country gradually diminished, for agriculture was not encouraged, and commerce was obliged to yield its profits to the idle listless Turk. The interference of Austria as a quasi protector was worse than the Ottoman Government, and we are bound to say real and substantial assistance was never found by the Rouman in any other quarter than Russia, and that only under the govern ment of General KISSELEF, between. '29 and '32, who re organised the provinces for a special purpose. General KISSELEF provided wisely for the wants of the people, re dressed grievances, administered the laws, and maintained order. This system contrasted well with Turkish injustice. It may be said that Russia impeded the corn trade of the Danube to unduly exalt the interests of Odessa. Let this be admitted at once; hut on all other points the Russian influence in those seas favoured the well being of the Principalities, and this accounts for her local and secret predumi• wince at the present moment. The demand of the Porte is that the old order of things, or misrule, shall be reinstated, and the desire of the people of the Divan is to be freed from that incubus. A union of the provinces under an independent prince, while yet preserving the sovereignty of the Porte, can alone place them in a permanent state of good government. That, however, would not consort with the policy of Austria, which can only prosper through and by Moldo- Wallachian insecurity and Moldo-Wallachian disaffection. Besides, it is well known that the Czar NicuoLAs, in a friendly admonition to the Emperor FitaNcis JOSEPH, remarked that a possible loss of territory in Italy might be compensated in the East. This is the real motive that actuates Austria, and the prospect of a stable establishment of the Principalities is adverse to the contingency of the future. The reception of the Duke of CAMBRIDGE in the City, and the important ceremony which marked the occasion of the appearance of kis Royal Highness, are among the prominent events of the week. The Duke of CAMBRIDGE enjoys a well-deserved popularity, and the reception accorded his Royal Highness on Wednesday was worthy his reputation. A soldier " bred and born," and holding the high position of Commander in-Chief of the British Army, great weight is attached to the opinion of the Duke upon the condition and necessities of the British army; and it is with some degree of satisfaction that we observe his Royal Highness never fails to impress upon the public at this particular and favourable period the vast importance of preserving that army ever in a state of the highest efficiency - , prepared for emergencies, and with " something to spare." We are not among the last to recognise the value of this policy ; but when his Royal Highness ventures to condemn the reductions of last spring, we think he does but scant justice to the conduct of the Opposition in the House of Commons. At the commencement of last spring peace was concluded and friendly relations resumed by us with all the great Powers of Europe except the King of NAPLES ; and he was scarcely of suf ficient importance for our maintaining an army on a war footing. What object, then, had we in maintaining a powerful army at Aldershott? The best proof that no sound object existed is the readiness with which Ministers cut down the Estimates ; for if from information from Calcutta they were aware of the critical nature of our position in India, and of the importance of our maintaining a powerful army in hand ready for any contingency, and, by cutting down the Esti• mates to secure their places, sacrificed the interests of the country, what a position must theirs be ! It was not only the duty of the Con servative Opposition at that period to insist on retrenchment and economy, but it was the true policy of the country to reduce its vast military expenditure and husband its resources ; and indirectly blaming the Opposition for their conduct at that period, is manifestly unjust. The Conservative party, his Royal Highness must be aware, is never illiberal in its sanction of the public expenditure for legitimate purposes. The despatch of Sir WILLIAM GORE OUSELEY to settle the vexatious Central American question is satisfactory. From the high abilities of Sir WILI.IAM OUSELEY, from his intimate acquaintance with America and with Spanish America, and from the friendly personal relations which exist between himself and Mr. BUCHANAN, we are led to anticipate that at length a satisfactory solution of this question will be arrived at. We have every confidence that the interests and dig nity of England will be well cared for by Sir WILLIAM OUSELEY. Accurately acquainted with the nature of the status quo, and fully impressed with the view that, at all events, if we have no right in Central America, the Americans have less, :t is not probable that any concession without an equivalent will be made by him to secure a settlement of the question. Sir WILLIAM OUSELEY left this country last Saturday. We should hardly have expected to find the Saturday Review coming forward as the organ of organs. Whatever may be the defects and absurdities of the Belgravian petition, there can he no doubt that it is directed against a real and substantial grievance, and one to which a literary man—if the Saturday reviewer will permit us to desig- 1085 nate him by that opprobrious term—might be supposed peculiarly sensitive. In what tranquil solitude does the writer live who can speak calmly of street music and its attendant noises? In the deep recesses of an Inn of Court, or behind the thick walls or double windows of the Circumlocution•offrce? Or is it that he actually likes the thing, and is accustomed to stand at his parlour-window as a pendant to "the simple and slipshod damsel" below, enjoying with ready sym pathy the sweet strains of " Kee►no Kimo," or " The Ratcatcher's Daughter " ? Seriously speaking, he has done the petition injustice in characterising it as " an indiscriminate and Bumblelike proscription "of all street music." There is nothing on the face of the document to show that its framers wished to deprive either the in habitants of the back streets, or the reviewer himself, of the entertainment they seem to appreciate ; only to enforce the principle that one's neighbour has no right to pursue a gratifica tion which he can dispense with at the cost of positive annoyance to oneself. " But," says the reviewer, "if Molly the housemaid is not " allowed her organ, she will fly to the penny gaff and never return." This, of course, is a question which can only be solved by such an attentive and continued observation of housemaids as we at least have not time for. Our opinion is at present the other way. There is another reason, too, why some control should be exercised over the organ grinders, and that is their excessive insolence. " Invalids " and " hypochondriacs " are not the only persons entitled to complain. We appeal to those families whose male members are absent during the day, and which are unprotected by the presence of a stalwart flunkey, whether some further check than the absence of a possible policeman is not required for the hairy ruffian:3 who imagine themselves a com pound of Mani° arid DON JUAN, and behave aceo;dingl) ? The death of General CAVAIONAC is a heavy blow and a great dis couragement to the Republican party in France. The reputation of CAVAIGNAC gave weight and consistency to that party, and his loss is proportionably severe. As a distinguished soldier, and as the man who had rendered to France great services in times of peculiar peril, the position CAVAIGNAC will occupy in the history of his country is assured. Like CARNOT under the first Empire, CAVAIGNAC, Reef wing the restoration of the Imperial regime as a political necessity, and as the will of the people, yet maintained his republican principles intact, and though he preferred retirement to active service, he scorned to plot against the Government whose employment his principles forbad him to accept. CAVAIONAC was certainly the first of the Republican party ; lie has left no successor worthy of him. Men of his peculiar mould are not cast every day, even in France. We have every reason to believe that the judgment passed upon the Honourable Mr. CADooAN, upon the part of the public journals generally, is premature. Several important facts which from some un accountable cause were not brought forward at. the trial, in all proba bility will be shortly laid before the public. Meanwhile, we would beg our readers to withhold their judgment pending the publication of a statement of such importance. The latest intelligence from New York has not confirmed the previous favourable news. The commercial crash still continues, and although the exchange on this country shows a not inconsiderable im provement from the lowest rates, it is by no means so great as we were led to expect, nor sufficient entirely to put a stop to shipments of specie from this country. The scale upon which bullion has been transmitted to America in the last few days is, however, totally inade quate to account for the increased scarcity of money which now pre. veils, causing an advance of the minimum rate of discount by the Bank of England to nine per cent., and an indisposition to discount most excellent bills even at that extreme rate. In fact, the Bank Directors appear to feel themselves called upon to apportion as equit ably as may he the accommodation which it is in their power to grant to the ►mercantile community ; and although their reserve is not yet reduced to the point at which it stood in 1847, still the facility with which they grant advances is not much greater. Judging from the sudden revulsion which occurred in 1847, as soon as it became known that in case of need the Bank of England would be authorised to in crease temporarily their issue of banknotes, we cannot but come to the conclusion that the same causes for extreme stringency are at work now which then prevailed ; amongst others, a disposition to retain a larger amount of cash on hand, and an anxiety to provide for future wants earlier than under normal circumstances. Such a mode of action, if at all general, must necessarily immensely increase the amount of circulating medium requisite to conduct the commerce of the country ; and much as we may deplore such a tendency, we cannot but admit that it is but natural and inevi table. It remains to be seen by what means the immediate fear can be somewhat allayed ; and the severity of the present crisis is quite sufficient to insure the exercise of great caution in the channels through which pecuniary accommodation is usually dispensed to the public. There seems every reason to think that the extreme pressure has lasted quite long enough to test the solidity of all mercantile firms ; and the mode in which it has been borne is most satisfactory as compared with the long list of failures of 1847. Any measure which can be devised to allay apprehension would, we think, meet with uni versal approval, if immediately promulgated. It would seem advisable that some such course of action should be determined upon. r "