The Press. — London, England, 1856-03-15 00:00:00

260 whether it was really a public corporation for the encou ragement and relief of men of genius and learning who might be reduced to distress by unavoidable calamities, or deprived, by enfeebled faculties or declining life, of the power of literary exertion ; or whether it was a snug con ventional party, bent on following its own usages, bent on a vast deal of unnecessary parade, and bent on toadying once in every twelve months a score or two of the members of the aristocracy with a view to recruit its Anances ? Mr. MONCKTON MILNES thought that Mr. Dickens and his friends seemed to regard the managing com mittee of the society as so many ghouls fattening on the flesh of literary men : It suited the convenience of Mr. Dickens and his friends on this occasion to sneer at the patronage bestowed on the society by members of the aristocracy; but he might be allowed to remind them that the list they propounded last year as the council of the society was composed almost eu• tirely of lords and right honourables. (A laugh.) Having regard to the delicacy with which the corporation had hitherto administered its funds, he considered that one great moral element which made it so eminently useful, and he would be loth to see it changed in that respect. Mr. MURRAY, of Albemarle street, after a few pre liminary obseivatious deprecating the serious effect of this opposition on the prospects of the society, and especially of the covert assaults made upon it by Mr. D►ckens himself in his periodical publications from time to time, moved an amendment justifying the purchase of a house and the increased salary of the secretary, but recognising the necessity of such re trenchments in the general expenditure as might be consistent with the security of the fund and the ex tansion of its resources. The amendment of Mr. Murray was then put and carried by a majority of 21, the numbers being—for Vie amendment, 51, and for the original motion of Mr. Dilke, 30. The officers for the ensuing year were then elected, awl the meeting separated. ENGLAND AND THE UNITED STATES. THE correspondence between the two Governments uion the recruitment question has been published by the President and presented to the Senate. It is of a very voluminous nature. The first mention made of the matter is iu a despatch from Mr. Marcy ti Mr. Buchanan, dated Washington, June, 1865, and requesting Mr. Buchanan to call Lord Claren don's attention to the fact that a plan was on foot to enlist soldiers within the limits of the United States to serve in the British army, which was "a disregard of the sovereign rights of an independent nation, aid a clear and manifest infringement of the laws of the United States." On the 16th July Lord Claren d3n replies to Mr. Buchanan's note of the Bth July, a justifies the incontestable right of the English G , vernment to accept voluntary offers of service, but disavowing the violation of the laws of the United States as having been committed by unauthorised it4ents. In conclusion, Lord Clarendon says that as s precautionary measures, with whatever honesty ft ley may be carried out, could effectually guard a ;elitist some real or apparent infringement of the which would give just cause for complaint to the Government of the United Suites, her Majesty's Government had determined that all proceedings for enlistment should be put an end to, and instructions to that effect had been sent out before the reception of Mr. Buchanan's note." On the sth Sept. Mr. Marcy replies to Lord Cla rendon's note, and observes that in authorising a plan of recruitment which was to be carried out in part within our territories, the British Government seemed to have forgotten that the United States had s.wereign rights as well as municipal laws, which were entitled to respect ; and concludes : The information which has been laid before the President has convinced him that the proceedings resorted to for the purple of drawing recruits from this country for the British army have been instigated and carried on by the ac: ire agency of British officers, and that their participation therein has involved them in the double offence of infring• ing our lass and violating our sovereign territorial rights. The information in the possession of this Government is so well established by proof, and corroborated by so many public acts, that the President feels warranted in present.- bit; to the British Government this conduct of her Majesty's officers, as disrespectful to the United States and incompatible with the friendly relations between the two countries. To this Lori Clarendon replies, on the 27th Sept., that her Majesty's Government is fully aware of the obligations of international duties, and expresses his confidence that the United States Government will fail to prove any well-founded charge of disregard of sovereign rights against the British authorities, or their agents, in the United States. Lord Clarendon also, in rather forcible terms, remarks upon the lax observance of the neutral laws within the Union. On the 18th Oct. Mr. Marcy replies that Lord Clarendon's answer to the demand for redress and for a violation of its laws and sovereign rights, is laconic and un.atisfactory. Mr. Maley further asserts that the United States Government have abundant proot that British officers and agents have transgressed the laws and disre- PIIE PRESS. garde(' the rights of the United States, and that as a solemn duty the Government insists upon a proper satisfaction. Two 'despatches of great length, resuming the whole question, conclude the correspondence. The first from Lord Clarenden to Mr. Crampton, dated Nov. 10, 1855, calling upon the American Government to establish distinct charges, and to specify by name those officers and agents charged with infringing the law. Lord Clarendon then pro ceeds to argue that to persuade men to do what is lawful, such as by simply enlisting as soldiers within British territory, persons who might choose to leave the United States territory, is not a violation of inter national law; and that whatever the municipal law of the United States may be, it was not infringed by order, and even if it be shown to have been infringed, the British Government did not put poseiy cause the law to be broken, and hence the territorial rights cannot be said to have been intentionally violated by the British Government. To this Mr. Marcy replies, on Dec. 28, 1855, with a disquisition on international law, supporting his views by quotations from Putfendortf, Vette], and Hauteville, and concluding with a request that, as the evidence is clear that Mr. Crampton has taken a prominent part in organising the recruiting scheme, the United States Government requests he be recalled,—as also Mr. Barclay from the post of Consul at New York. This document was delivered to Lord Clarendon on the 29th Jan., and the correspondence ceases. With respect to the Central American question, the offer of the British Government to submit the question to the arbitration of a third power, is given in a brief note from Lord Clarendon to Mr. Cramp• ton, dated the 10th Nov., 1855. loutiljarktt anb titg nitlligenct. FRIDAY EVENING. THE return from the Bank of England for the week ending the Bth instant, shows the following changes compared with that of the preceding week : Decrease in Circulation £284,435 Increase in Public Deposits Decrease in Other Deposits Decrease in Other Securities 96'2,419 Decrease in Bullion Increase in Rest .. . . Increase in Reserve Circulation, including Rank Post Billy Bullion iu Both Departments This comparison presents no features of importance. The Public Deposits are but slowly increasing, con sidering the approach of the period when the April dividends will be payable; but it is remarkable that there has been no change in the amount of Govern ment Securities held by the Bank. The decrease in the Private Deposits is accounted for to some extent by the preparations for paying the loan instalment; while the running off of Private Securities has helped to swell the Reserve. The bullion was not expected to show a decrease, but it is of no great amount. The Money Market has been subjected to extremely heavy pressure during the week. In the first place, there has Leen more than the ordinary demand for discounts from mercantile and shipping houses, while increased activity in some of the manufac turing districts has rendered extensive accommoda tion necessary, in order to facilitate increased pro duction to meet foreign and domestic contracts consequent upon a general diminution of stocks. This demand is not yet satisfied, nor is it affected by the high value put upon money, though giievoits complaints are made on all sides of the disappear. ance of profits. The next and main cause of the pressure op to yesterday was owing to the pro vision of the second instalment of the loan, of twenty five per cent., or 1,250,000/., and fur the funding of twenty per cent. of the outstanding Ex cheqner Bills. The effect of these calls was princi pally felt in the Stock Exchange, but out of doors they caused considerable inconvenience, and tended to restrict the advances made by the banks and discount houses in the ordinary course of business. In the Stock Exchange money up to Wednesday was worth as much as eight per cent. for shoit periods; but the pressure " within doors," which induced this high price, was aggravated oy the con currence of the settlement of the Consol account for March, and by the preparations for the hall.monthiy railway settlement which has just terminated. Yes terday there was considerable ease, and shoit loans could be had at five per cent. Today the rates were the same, and the great pressure is over until towards the end of next week, when provision must again be thought of for another twenty-five per cent. instalment of the loan, amounting to 1,250,0001., and for the funding of thirty per cent. of the outstanding Exchequer Bills due on the 29th inst. Some banks intimated to-day that the interest on deposits at call would be reduced from 51 to 5# per cent. gATURDAY, The Bank, the East India Company, and other great corporations, have been making advances on Government Securities during the week in connec tion w►th the payment of the loan instalment. It is understood that the whole amount was paid by twelve o'clock yesterday. The specie imports during the week are under 3,0001.; the exports about 50,0001. The state of the continental exchanges is favorable to the return of gold to this country from France and Germany, and small amounts are coming in, but the effect at pre sent Is inappreciable. The course of trade with the United States is not yet favorable to the remittance of gold from California; there are, however, sump. toms of a turn in the diminished import of lireal stuffs, and a larger export of our manufactured productions. Several vessels from Australia, with gold on board, are nearly due. It is thought that one or more may have been prevented working up the Channel by the prevalent easterly winds ; a steamer will probably be sent to look after them either from Plymouth or Falmouth. The steamer Atlantic, from New York, which arrived yesterday, brought no gold. Consols ' when the March account clo se d on Wed nesday, stood at 912 to 2. The rates for carrying Stock over to the April account, which had previously been I, advanced to I, being the highest point known for a long time past. Under these circumstances the first price for April 10, on Wednesday, Was 923 to 2 ; and from that time to the present the market has been gradually improving. The closing price last night was 922 just, there being alternate buyers and sellers at that quotation. The firmness of the market, which is extraordinary considering the high price of money, is due exclusively to the confidence telt in the Paris Conferences ending in peace. The admission of Prussia to the Conferences is regarded as a most favorable sign of a pacific issue; it being considered that the main question whether the war be continued or not, had been decided by the pleni potentiaries before it was determined to invite the presence of that power. Dissatisfaction, however, is openly expressed at the jaunty and evasive answer which Lord Palmerston made to a very simple ques tion on this subject in the House of Commons last night. Consols opened this morning at 923 to 2, and, after some fluctuations, closed at the same quotaticn rather firm. The Railway Market has been steady, but yester day there was a decided advance in most descriptions. Lancashire and Yorkshire improved 305., London and North-Western 205., Great Western 205., and other lines in proportion. The public are increasing their investments in railway stock, and the traffic returns are uniformly good. Business in this market is now animated; and, having regald to the demand for in• vestment, along with the events that affect the price of Consols, there is nothing to prevent a further moderate advance in prices. Foreign Securities have attracted a good deal of attention during the week. Prices all round are rather better tl an last week • but the principal in - - provement has been in Turkish Six per Cents., which nave gone up 21. s.nce last Saturday. The Four per Cent. Guaranteed Stock is three-quarters per cent. better. Joint-stock Bank Shares until yesterday were fiat and drooping, but they are now better, with a fair demand. The new undertakings have not been well supported during the week. The French Three per Cents., after being done at 721. 5c., improved to 73f. 00c., and last night they closed at 731. 25c. The closing price today was 731. 35c. The utwost confidence is the restoration of peace is still felt on the Baurse, but doubts are entertained in the stability of present price , when that event takes place, owing to the speculative mania which has so long prevailed. The half-yearly dividend of the Bank of England, declared yesterday, was five per cent., free of income tax, being at the rate of ten per cent. per annum. The profits for the six months amounted to 705,3251, and after providing for the dividend the " Rest" will remain at 3,000,7291. The monthly return of the Bank of France wag published this morning. It does not show any very striking change in the amount of the metallic re serve compared with the return for February; but the overdue bills have largely increased, and there is a considerable addition upon the amounts paid In premiums to secure purchases of gold and silver. the note circulation shows a falling off. On the whole, the return is not so good as that for the pre vious week. The General Screw Steam-ship Company are in negotiation with the French company, which has al ready purchased eight of their large ships, for the sale of four smaller vessels. Messrs. Strahan, Paul, and Bates have passed their last examination at the Court of BankruptcY• but no date is fixed for the hearing of certificates. If Mr. Bates obtains his pardon from the Crown be . will then apply in the ordinary way. The affuri . ot the Tipperary Joint-stock Bauk, and the extensive frauds of the late Mr. Sadleir in connection there' with, are exciting intense interest in Ireland. er c- -1 3I n re er of Id - p- d- th at tp a in er d- ly ru I; as St he ;h ce he ed 3g ar he ?r, er -s- -ist id, CII Is. ad er sir is n. Cd er of X 2 T. th per at. tat kir ell at ec on ire en Vd ile tn. ill .as Iry re- Int is in er. be re- in al- he tea es. be of ice le •