The Press. — London, England, 1856-09-27 00:00:00

SEPT. 27, 185 G. THE BISHOP OF EXETER AND THE PRO TESTANT ASSOCIATION. THE Bishop of Exeter presided over the anniversary meeting of the Society for the Propagation of the Gospel in Foreign Parts, held in the Exeter Guild ball last week, and in his opening address the right rev. prelate alluded to a circular issued by the Pro testant Association, and signed by Lord Shaftesbury as president, protesting against episcopal letters being sent to incumbents to preach on behalf of the joint societies for Promoting Christian Knowledge and the Propagation of the Gospel in Foreign Parts, notwithstanding the withdrawal of the royal letters, inasmuch as such withdrawal was hailed by many as a timely relief and as a cause for thankfulness ; for the royal letters had long been re garded with dislike, as favoring certain societies to the exclusion of others, and as tending to fetter the free judg ment and action of both clergy and laity. The issuing of episcopal letters, while it tends to reimpose the yoke in a nother and not less embarrassing form, may place both the clergy, the laity, and the society for which it is made in a false or painful position, and may oblige the clergy either to disregard the injunction of their bishop, or, nut of deference to his office, to advocate a cause they do nut cordially approve. The Bishop of EXETER observed : One circumstance has surprised me a great deal—if any thing can surprise one in these times; for perhaps you are not aware that you are considered Popish, and that by a society which numbers on its list noble lords, and has a noble earl at its head. I received a letter, not very long ago, from a gentleman who is known only to me as the secretary of a society called the Protestant Association; and it contained a document for your instruction and my instruction too, which is of a somewhat remarkable charac ter. Now, what is it? Jt is, in fact, a remonstrance to the bishops for addressing letters, requesting their clergy, if they see fit, to advocate the cause of these societies. Really there is something that is absolutely astounding in this—what shall J say? The only words that occur to my mind are not likely to proceed from my month in this meeting. Jt is really scarcely credible that noblemen and gentlemen—religious gentlemen —men of eminent Chris tian profession—should join in any such remonstrance. It is a declaration against episcopal advice and counsel to the clergy in lieu of the Queen's letters. I need not say that the Queen's letters having been withdrawn, the arch bishop preferred a general request that in future each bishop in his own diocese might issue letters in favour of societies of this kind. Now, it does happen that, know ing, as I do, the numerous claims upon the clergy of this diocese, I have never issued letters, so far as I can recol lect, requesting them to address their parishioners in favour of any society without specially requesting them to consider whether in their judgments they may think fit so to do. Therefore there has not been any great deal of episcopal interference on my part in so doing. Her Majesty and her council, when they thought fit to restrain the issuing of the Queen's letters, did not restrain the bishops from exercising their discretion in calling upon their clergy to act as they pleased in favour of any society, or of any object, of Christian benevolence. Therefore, do not let it be imagined that in sending letters in support of the two societies that claim your attention today the bishop is acting or doing anything in any way against the royal commission. I should be very much shocked if the time should ever come when the Crown of England should think fit to enjoin the bishops not to issue letters in favour of the Christian Knowledge or the Propagation of the Gospel Society. This is only a specimen, lam afraid, of a spirit that prevails--a spirit which I have no hesitation to say would, if it were able, act on the same principles, and do as was done some 200 years ago--it would pull down the Church of England, extinguish episcopacy, and over both the Church and the State; that would be a ne cessary consequence of carrying out the principle on which these gentlemen act. The right rev. prelate then commented upon certain Passages in the " circular " remonstrating against the substitution of episcopal for Queen's letters, characterised them as an "uncomfortable intima tion " of the anti-Church spirit abroad, and appealed to his hearers not to rise up in a spirit of aggressive opposition, but rather to accept it as a proof of the necessity for "increased energy, zeal, and constant assiduity" in promoting the great cause of the pro- Paitation of the Gospel. alairai ait Rlilitarg itttilignut. The following circular has been addressed to the general officers commanding divisions and brigades, and to officers commanding infantry regiments : Horse Guards, Sept. 19, 1856. • His Royal Highness the General Commanding•in•Chief is desirous to receive your opinion of the bayonet exercise introduced a few years since into the army, and carried on under the superintendence of the late Mr. Angelo, and to ascertain, more particularly— First. Whether you consider that the system is calcu- lated to give confidence to the soldier in the use of the weapon ? and, THE PRESS. Secondly. Whether. as a gymnastic exercise, it tends tai supple the limbs, strengthen the muscles, and set up the man ? You will be pleased to report whether any and what regiments under your command have been practised in the bayonet exercise, and whether it is still carried on as a part of drill. G. A. WETHEAALL, A.G. Major-General the Earl of Cardigan, accompanied by his aide•de-camp, Captain Law, has arrived in Dublin on official duty as Inspector• General of Cavalry. An official statement has been published at Ports mouth of the number of persons of all ranks who embarked and disembarked at that port during the late war. The number was upwards of 150,000, 7,500 horses. Major-General Breton, the Lieutenant- Governor of Portsmouth, has issued a special order in reference to the manner in which the duties of the garrison were performed during the period in ques tion, thanking the different men and officers engaged in the duty. He states that since May last more than 60,000 men have passed through Portsmouth, and in one day 6,000 were shipped off. The conduct of Captain Nias, C. 8., Captain-Super intendent at Plymouth, and whose characteristics are neither agreeable nor courteous, is about to be the subject of a court of inquiry to be held, to investigate, first, into the repeated causes of difference which have arisen between the superintendent and store keeper of the victualling-yard ; and, secondly, into the alleged uncourteous conduct of Captain Nias towards a party of French ladies and gentlemen who, with letters of authority from the Admiralty, sought permission to walk through the establishment over which he is the superintendent. The officers named as members of the court are Admiral Sir William Parker, Bart., G.C.8., commander-in•chief at this port; Rear-Admiral W. F. Martin, Superintendent of Portsmouth Dockyard; and Rear Admiral Sir H. D. Chads, K.C.8., commander• in-chief at Cork. Mr. Grant, Comptroller-General of Victualling, is also to be in attendance. The court will not assemble for a few days, as Rear-Admiral Chads has to arrive from Cork. His Excellency the Lord Lieutenant has appointed Colonel Hastings Doyle to be Inspector of the Irish militia. Five officers of the Tipperary Light Infantry have applied for a court-martial, arising out of the reprimand given to the corps by the Commander of the Forces. THE SHIP Imogene, bound to Pernambuco with a cargo worth 60,0001. on board, was run down at three a.m. on Sunday morning off the Barges light, by the Cork and Liverpool steamer Falcon, and in spite of every exertion foundered in about two hours. The Imogene was on the port tack, had three lights in her weather rigging, the night was bright and clear, with a fine fresh breeze. The Falcon struck her just on the weather bow, and after the collision remained by for two hours and took off everybody on board. FROM THE LONDON GAZETTE. Tuesday, September 23. BANKRUPT.—WILLIAM STUART FINDLATER, Plymouth, coal merchant. Friday, September 20. BANKRUPTS.—GEottos HENRY STANLEY, Cannon-street toad, St. George's in the East, builder—WlLLlAM riARTZIO, Stafford, manufacturing chemist—Thomas Hoopes BROOK, Wolverhampton, draper—HENßY MERTENS and JOHN SUT CLIFFE, Apperley-bridge, Yorkshire, dyers—HENRY WARNE, Mill-street, Hanover-square, carpenter, ac.—Jonn WHITE, Jose EXLEY, and JOSEPH DARLINGTON, Meiborough, York, coal proprietors—lSAAC JAMES IiAWDEN and JAMES LAMONT M'Oszoos. Liverpool, merchants—HENßY ALFRED WARD, Birmingham, grease manufacturer—Wmitam JAMES BEAMAN and ROBERT PEARCE LEWIS, Bath, hide dealers—Simon HORS MAN, Westgate, Bradford, grocer—SAMUEL PARKINSON MUFF, %estgate-hill, Bradford, currier—Roscar Inonam, Hamer Bottoms, Rochdale, cotton manufacturer. SCOTCH SEQU v ESTRATIONg. I =4imes M'brrosn, Dundee, cabinet maker—Maxus( CARRUTHERS, Tynron, Dumfcieshire, deceased. ffloneg alarket Intb ditg PRIMLY EVZNINO. THE return of the Bank of England for the week ending the 20th inst. shows the following ciattiges compared with that for the week preceding : Increase in Circulation . . Increase in Public Deposits Decrease in Other Deposita ...... 14,392 Increase in Private Securities Decrease in Bullion _ _ Increase in Rest .. Decrease in Reserve Bullion hi Both Departments Circulation, including Bank Post Bills This comparison, like that for last week, contains ample testimony of the active demand for money last week. The Government Deposits were increased 1,000,00 W. by the payment of the final instalment upon the loan, and by 300,0001. in ordinary revenue payments; and the whole of 933 this amount was immediately lent out again, with 67,0001. more. The I:eserve consequently shows a alight falling off. The Private Securities are now more than eighteen millions and a quarter, but they are about 250,000/. less than they were in the corresponding week last year. The Bullion is still above 12,000,0001. The return, as a whole, is no worse than that of last week; and considering it as a whole, we do not see in it any reason for anticipating a change in the value of money, as fixed by the rate of dis count, so early as next week. A considerable amount of private securities will run off in the forthcoming week ; but we do nut expect any considerable diminution in this stock for the next fortnight or three weeks. Most of the great banks in the commercial cities of the Continent have just raised the rates of discount, and yesterday the Bank of France adopted the same policy, and it now charges six instead of five per cent This mea sure, though not altogether unlooked for, had all the effect of a surprise in the market for English securities. The object of this policy is local, being directed, primarily, against the efflux of silver to India and China, and also to Russia, whence au active demand has sprung up. The reports in the early part of the week of the Banks of Amsterdam, Vienna, and Prussia having advanced their terms, produced an impression on this market that the Bank directors would be obliged to follow the example at their meeting yesterday, and advance the minimum rate of discount from four and a half to five per cent. This expectation, as we led our readers to anticipate last week, proved unfounded. It is a mistake to assume that the policy of the Bank of England is regulated by that of the continental banks. The Bank of England, though far from ignoring the state of the European money markets, is influenced, in its execu• tive policy, by considerations that have reference solely to the interests of its own proprietors and to the prospects of British trade. It has to consider, before taking a step in this direction, whether the foreign trade of the country is so unfavorable as permanently to depress the exchanges, and so cause an export of bullion to pay for the excess of imports; and next, whether, if money be arbitrarily raised in value, it will not lose its own discount business through the formidable competition of private establish ments. For some weeks past the state of the Bank's weekly account would, upon the principles by which they were interpreted previously to the gold discoveries in Cali fornia and Australia, have justified an advance to five or five and a half per cent.; but experience has now established a different set of rules, maxims of practical authority have superseded the old theories, and altogether a new system has sprung up. So that it is not simply by its weekly returns that Bank policy is to be inferred. A wider view is to be taken, embracing the position and prospects of trade all over the world, in winch the great element of a private and corporate interest must always be taken into account. Such considerations will in future always induce the Bank of England to postpone raising the value of money to the latest possible period that is safe, and, on the other hand. to reduce it at the earliest moment that is prudent. The Bank is now in the first of these positions ; and if, as we consider, the public revenue is well paid up, the bullion and reserve, though low in relation to some former periods, are not materially diminished, and there is no scarcity of money for sound commercial enterprises, we see little reason for doubting that the period will be got over without adding to the existing pressure. The demand for money during the week has been considerable, and full rates have generally been paid ; but the supply has always been equal to it. The best bills are done at four and a half per cent. The release of the October dividends in about a fortnight will increase the floating supplies, and possibly the Lombard street houses may, if matters look smooth in politics, try the chances of adding to their business by transacting it below the Bank terms. We should not be surprised to see a temporary change of this kind about that time ; but, all things considered, there is not much prospect of rates generally falling below four and a half per cent. The specie arrivals during the week have amounted to about 100,00 W., and the whole has been taken for the Continent. It is said that the next packet from South ampton will take out silver for India and China to the value of more than 1,250,0001. It is not improbable that silver will be demonetised in France, and it has been sug gested by influential parties that the same policy should be adopted in India. Such a course would immediately relieve the pressure for silver. Gold enough is produced to feed the circulation of both countries, though in the transition a good deal of inconvenience would be caused; but something must be done before long unless all Europe is to be drained of every ounce of silver it possesses. Apparently, as a step towards the adoption of a single standard in France, sn agreement has been concluded with the Miut at Paris to provide 50,000,000 f. in gold pieces of 5f., and they are to be put in circulation at the rate of about 175,000 f. per diem. This will partially relieve the inconvenience caused by the exhaustion of the silver currency. Consols for account, which closed last Friday at 9th to 1, left off last night at 94 exactly. They had, therefore, declined to the extent of a half per cent. up to that time. This fall is to be attributed to three tbings,—first, the absence of bona-fide business; next, to the perplexities created by the irregular state of the Money Market ; and, lastly, to indefinite apprehensions with respect to our political relations with Naples and Russia, and also with Austtia. With such a combination of unfavorable circuni stances the wonder is, not that Consols have fallen a ha