The Press. — London, England, 1855-12-08 00:00:00

1176 In the scenery there is much that is new and very beautiful. The " Pass of the 'fete Noire," well re membered by all Swiss tourists, is one of the most perfect pictures painted of that famous pass, while the " Crevasse in the Glacier de Boissons," and the view of the "Summit of Mont Blanc," and "Cha mouni after the Fire," are all admirably well-painted pictures. But previous to arriving at these, the view of the "Grande Mulets " at sunset and twilight., is one of the most beautiful and in effect perfect scenes ever represented. The route chosen by Mr. Albert Smith is through that clean country Holland, up the Rhine, en route to Chamouni and Mont Blanc, and lastly, home by Paris and the Exposition. Here, of course, " Brown " is to be met, with his all-round collars, his eternal cigar and gentle lisp—that Brown whom we all so well know on the Continent—a young gentleman much more dignified than entertaining, speaking bad French, and full of indolent indiffer ence to everything about him ; that " Brown" has of course been met with by Mr. Albert Smith, and is rendered more amusing than it ever entered into his own belief he was capable of being. Our old friend also, "The Engineer," who always tells a stupid story, is of course picked up at the Exposition, and tells a story ten times more stupid and less con nected than ever ; while Galignani brings in the events of the day with capital precision, and closes an entertainment than which none more amusing can be found in London. Every evening the room has been crowded, and the audience enjoy the jokes, applaud the good songs, and laugh at all the good points with a heartiness which shows how thoroughly they appreciate the efforts of their clever and amusing entrepreneur. LYCEUM THEATRE.—Mr. Anderson will complete his " hundredth night" on Tuesday next. His house is nightly crowded, and the perforamnces appear to be as attractive as on the opening occasion. On Tuesday we need hardly say that a " special enter tainment" will celebrate the occasion. As the time of " clown and pantaloon " draws near, expectation is excited with regard to Mr. Anderson's promised pantomime. It will be a reprentation, we believe, of "The Field of the Cloth of Gold;" and we have no doubt that the old reputation of Covent Garden for pantomimes will even be surpassed by the panto mime of 1850. EKETER-HALL.—To judge from the rush for tickets for the sacred concerts on the 10th and 17th, the popularity of Jenny Lind remains undiminished. The Creation next Monday, and Elijah on Monday week, will not, we trust, be the beginning and end of Jenny Lind's present performances. As the number of tickets issued has been limited by Mr. Mitchell, Exeter-hall will not be inconveniently over crowded. THE FRENCH GOVERNMENT ort THE SPEECH OF THE EMPEROR OF THE FRENCH. THE following is the text of a circular of Count Walewskii to On French representatives at the Ger man Courts, intended to render clear the meaning of the speech of the Emperor of the French on the close of the Exhibition : Sir,—According to what I hear from several points of Germany, the speech delivered by the Emperor on closing the Exhibition has, as might readily have been foreseen, produced a very deep impression. It has not, however, been everywhere judged of in the same manner, and has become the object of different interpretations. It has, how ever, only one meaning, and the neutral States cannot mistake sentiments with which they evidently have good reason to feel satisfied. The Emperor said that he desired a prompt and durable peace. 1 have no need to enlarge on this declaration, it speaks for itself, and needs no corn- ment. In addressing himself to the neutral States, and in inviting them to unite the expression of their wishes ac cordantly with his own, his Imperial Majesty sufficiently testified the valve which he attached to public opinion, as well as his estimate of their influence on the march of events ; and this line of conduct his Majesty observed from the very outset of the diplomatic conflict which preceded hostilities. The Emperor always thought that if at that time they had more strongly expressed their judgment on the subject in dispute, they would have exercised a salutary action on the power which provoked the war. Their position has not changed in the eyes of his Imperial Majesty, and they may now, by a firm and decided attitude, hasten the denouement of a struggle which, in his convic tion, they might have prevented. It is with this idea that the Emperor asks them to loudly make known their die positions to the belligerent powers, and to place in the scale of the respective forces the weight of their opinion. This appeal, which was so well understood and so warmly received by au auditory, formed of the representatives of all nations, is, therefore, only a solemn homage paid to the importance and efficacy of the part which has devolved on neutral States in the prEsent crisis. WALEWSKI. PERSIA AND RUSSIA continue their civilities to wards one another in a remarkable manner. Orders, honours, and declarations of indestructible friendship are daily proclaimed in Asia Minor between the Persian Ambassador at Tiflis and General Moura• vieff in his , amp. The rapid advance of Omer Pacha may 1 osaibly put an end to so pleasant a state of things. THE PRESS. Corttsponbtnte. THE GOLD DISCOVERIES. TO THE EDITOR OF "THE DRESS." Sir,—As you have referred to my opinion, as ex pressed in a conversation from three to four years ago, on the subject of the gold discoveries, I trust you will allow me, through the medium of your paper, to restate that opinion, with the reasons which atter wards led me to change it. You say that I confessed to you that with the dis covery of the new gold•fields I saw swept away all hope of the one great object of my life being carried into effect. My great object was to obtain for the productive classes, by means of paper money, those prices which would return them the taxation and other charges to which they are subjected in this country beyond others of their class abroad ; and I cannot see how this hope was swept away by the gold discoveries, which I evidently regarded as the means of insuring its accomplishment. The words which you attribute to me imply something like disappointment that my own mode of relief was frustrated. If that feeling possessed me, it was an unworthy one, and I ought to be ashamed of it; but lam not conscious that I entertained it. I regretted the loss of so much valuable time as it then appeared I might have devoted to other pursuits; but, as I could not foresee what had taken place, I had nothing to reproach myself with even in that respect. This was my first impression. In a little time I saw that the object, which I thought we had attained, still eluded our grasp. The price of corn, for ex ample, after this time was lower than it had ever been since 1780. The President's message, which contained the announcement of the abundance of gold found in California, appeared in the Times paper of December 24, 1848, and the average price of wheat was for the next four years 41s. per quarter —viz., 1849, 445. 3d.; 1850, 40s. 3d. ; 1851, 38s. Od. ; and 1852, 40s. 9d. The average for the thirty years from 1819 to 1849, which was thought to be low enough, was 575. per quarter. This great fall of 16s. per quarter was the more remarkable, as in 1851 and 1852 the gold from Australia, in addition to that from California, had filled the coffers of the Bank of England to an overflow. On the 20th of June, 1852, the bullion in the Bank amounted to 21,587,1751., and so fully supplied our active circulation that the Bank could not issue a single note of any kind on credit—a thing wholly unprecedented. 1 then saw that the one great object of my life was not attained by the gold discoveries, nor to all appearance likely to be. I was struck, also, with another consideration, which I beg to lay before you and your readers. It is this. If our producers should be able to realise their taxation, rates, and other charges, by the in creased price of their commodities in gold, what could prevent the foreign producer from obtaining the same enhanced prices without having the same need for them? Suppose, for instance, that 60s. per quarter, or 7s. ed. per bushel, is necessary to re imburse our agriculturists and enable them to pay proper wages to their labourers, will nut the foreigner take away this price in gold, if our farmers get it, when he sells his corn in our markets ? Or, if he should be content with less, as he well may be, what chance would our farmers have of competing with him ? For the four years, 1849 to 1852, the price of wheat per English quarter was in France 30s. 2d., and in Prussia 345., while in England it was 415., on the average; but even this low price gave the Piussian 7a., and the Frenchman 55., per quarter more than he could obtain in his own country. It amply compensated them, while it was ruin to the Englishman, who has to pay so much more than they in fiscal and local charges. In 1853 wheat was on the average 535. 3d. in Eng land, 535. 9d. in France, and 455. 9d. in Prussia. At this price it would not pay to bring wheat from France, and it was more profitable to the Prussians to export it to France than to send it to England. But, taking the average of twenty-six years, from 1828 to 1853, according to Willich's tables, the price of wheat per English quarter was in England 545. 10d., in France 455. 7d., and in Prussia 348. 1011.; and with these prices, in gold, the Prussian would gain 20s. per quarter, and the Frenchman 9s. 3d., by sending their wheat to Eng land, more than they could obtain in their own country; while the prior Englishman would all the time receive less by ss. per quarter than he was paid from 1819 to 1849. You will not be surprised when I saw what had taken place under our large importations of gold, and what was likely to occur in future, if I again thought that paper money was the true remedy for all our grievances ; and that without it our producers, manu facturing as well as agricultural, would be con stantly running a race, heavily weighted, against their comparatively unencumbered competitors. No glory I covet, no riches I want, Ambition is nothing to me; SATURDAY. but I do wish most earnestly to see the poorest of our industrious classes receiving that recompense for their labour to which they are most justly entitled. I know they cannot get it unless their employers are properly remunerated ; and I am very sure that in the right use of paper money, whether gold is abun dant or scarce, the means are at once afforded us of making our country more prosperous, powerful, united, and happy, than it could ever be under any system of gold money.—l am sir, your obedient servant, JOHN TAYLOR. _ _ Leon4rd-place, Kensington, Dec. 4, 1E455. Dam t:larlat anb tit 3ntellignict. FRIDAY EVENING. THE Money Market has again been buoyant this week, as the reports of peace have gained strength ; and it is now acknowledged that pacific negotiation is in progress under the superintendence of the Em- peror Louis Napoleon. Opinions are much divided as to the probable result; but it seems highly im probable that a new negotiation would be opened unless there was a tolerably good prospect of bringing it to a satisfactory conclusion. Consols were buoyant on Monday. For money they were first quoted 89e to f. From this they re ceded to 89i, but the final transactions were at 89i to i for money, and 90 to for the 10th of January. ... __ I . . A decline in Clio Corn Market had some favourable influence. _ Consols on Tuesday opened at a further advance of nearly a half per cent., and the first transactions were at 891 to 90. From this they went to 901, but several realisations then took place, and the final prices were 891 to 90 for money, and 901 for the 10th of January. On this day there was a considerable amount of business done in Foreign Securities. Iu Turkish Six per Cents. a further advance took place, bargains having occurred at 851 85, 851, 88. The Four per Cent. Guaranteed NON Scrip was dealt in at 21 for money, and 21 . f for the account; the final quo- tation wa s 21 to Idiscount. Public Securities rose again on Wednesday. Con ols, after opening at 89k, steadily advanced to 00i to for the present account, and 01 for the ensuing settlement. In Turkish Stock there was little alteration. Thurday was account day ; the settlement was heavy, but no particular pressure for money was experienced. The rate, however, was high, 61 per cent. having been generally paid for loans on Govern ment securities till the beginning of January. Consols opened with steadiness at the closing prices of the previous evening, and subsequently advanced to s point higher than any recently at tained. A sudden and very considerable reaction occurred before the close of business, from which there was no recovery. The first quotation was 901 to 4 for money, and there was an absence of any material variation until the middle of the day, when the market assumed an appearance of increased buoyancy, and transactions took place at 901. Two or three parties engaged in the late speculative pur chases then came in as sellers, and the consequence was an almost immediate fall of five-eighths per cent., the final operations being at 90 to 4 for money, and 901 to 1 for the 10th of January. The heavi ness continued to-day, which may be attributed to the payment of differences having in one or two cases been attended with difficulty. Some heavy losses have been sustained. Controls for money opened at 894 to 894, and advanced to 894 to 90. At the close there was more firmness, and the last price was 904. The account (Jan. 10) prices were i$ first 904 to 901, then 904 to 904, closing at 904. Foreign Securities were mostly flat. Turkish Six per Cents., after being 841 4, were done 84 to 841, and the New Scrip 21 discount. Exchequer Bills have continued with much steadi ness ut Os. to 2s. discount. Foreign Stocks have been firmer this week. Tile Russian, Four•and-a-Half per Cents. Vera to-di quoted at 89 to 90. The Shares have been firmer this week, though the Market has been in an inanimate state. The Bank returns in this evening's Gazette show that the bullion in both departments has advanced to the extent of 87,0001. The return does not pre- sent any other noticeable feature. The item of " Other Securities" shows a trifling increase. A public meeting to discuss our monetary system was held at the London Tavern on Wednesday. The chair was taken by Mr. Bennoch, who attempted to explain that the origin of the present distress in the manufacturimt districts arose entirely from the per nicious operation of the currency laws. The leading points of Mr. Bennoch's argument were that, as Peel s act based our present monetary system upon the popu lation, the currency, which was 25,000,0001. in 181'i ought at least to be 40,000,0001. now ; and that r ade were to be accepted as the basis of operation. he currency should be at le set, 100,030,CC01. ; v