The Sun. — London, England, 1859-05-05 00:00:00

OY AL PRINCESS'S THEATRE. 'Under the Management of Mr. Charles Kean. THIS EVENING will be presented Shakspeare's historical play of KING HENRY V. King Henry V., Mr. C. Kean ; Chorus, Mrs. C. Kean. T HE A TRE-R Y AL, HAYMARKET. Lessee, Mr. J. B. Buckatone. THIS EVENING will be performed the new and original Comedy, entitled THE WORLD AlciD THE STAGE. The characters by Messrs. Compton, Buckstone, Howe, W. Far ren, Rogers; Miss Amy Sedgwick, &c. After which, a new Classical Extravaganza, entitled ELECTRA IN A NEW ELECTR'IC LIGHT. Messrs. Compton, Braid, Clark, Mrs. Wilkins, Misses Fanny Wright, Eliza Weekes, and Louisa Leclercq. And 'TWAS I. Commence at 7. N EW THEATRF , - ROYAL, ADELPHL Sole Proprietor and Manager, Mr. Benj. Webster. T HIS EVENING, THE SERIOUS FAMILY. Messrs. B. Webster, Billington, Toole ; Miss Woolgar, Miss Sims. After which, THE DEVIL ON TWO STICKS. Mr. J. L. Toole, P. Bedford, Misses Woolgar, Keeley, Arden, and Kate Kelly. Followed by THE PRETTY GIRLS OF STILBERG. Sir. B. Webster, Billington, Eburne, Misses Woolgar, Keeley, and Arden. Acting stanager—Mr. Wm. Smith. Doors open at a quarter-past six—Commence at seven. Box Office open from 10 to 5 -no charge for booking. No fees to servants permitted. A registry kept of all articles found. ROYAL STRAND THEATRE. R.) Lessee and Directress, Miss Swanborough THIS EVENING will be produced a new Comedietta, by J. M. Morton, Esq., entitled WHICH OF THE TWO supported by the company. After which, THE MAID AND THE MAGPIE. To conclude with VANDYKE BROWN. Mr. J. Clark. Commence at 7o'clock. ASTLEY'S ROYAL AMPHITHEATRE, Westminster -road. Lessee and Manager ........ Mr. William Cooke. Immense Success of INANH ht OE.—Overflowing Houses Nigly. THIS EVENING, the performances will commence with a new grand spectacle, founded on Sir Walter Scott's popular work, entitled-IVANHOE; or, The Lists of Ashby, intro ducing among the vast resources of this great Hippodramatic Temple,Tonrnaments, Processions, Banners, Combats, Tilts, Victories, and Achievements in extraordinary magnificence. Ivanhoe, Mr. R. Phillips ; Isaac of York, Mr. Jas. Holloway; Richard of England, Mr. Herbert ; Robin Hood, Mr. ‘Vm. Cooke, Jun.; Rebecca, Miss Bathurst; Lady Rowena, Miss Dowton. After which, the matchless and unrivalled SCENES IN THE CIRCLE, introducing Mr. John Henry Cooke, the greatest equestrian in the world together with Miss Emily Cooke, Madame Blanche, Madame Bridges, Madlle. Fleurette, and Madame Francisco, being the greatest amount of female equestrian talent ever seen in one night in any theatre. Grotesques—Messrs. Hemming and Thorne. To conclude with the Farce of BATHING. :Dress Circle, 4s. ; Boxes, Is. ; Fit, 2s, ; Gallery, ls. ; Upper Gallery, 6d. Private Boxes, £4 4s, £2 2s, and £1 is. Stage Manager, Mr. R. Phillips (IANTERBURY HALL AND FINE ARTS %-.1 GALLERY, Westminster-road. —Open at Seven. EVERY EVENING during the week will appear THE DELEPIERRE FAMILY, Consisting of three Juvenile Violinists, viz., Jules, Juliette, and Julia Delepierre, aged, respectively, FOUR, SIX, and EIGHT years. The perfect execution by these Lilliputian Artistes of some of the most difficult and brilliant Solos, Duets, and Trios ever written for the violin, has excited mingled wonder and admi ration in Continental Musical Circles, and drawn forth enthu siastic tributes of praise from the Public Journals of France and Belgium. They will perform EVERY EVENING, at' NINE and ELEVEN o'clock, in addition to the usual Entertainments. THE WEATHER.—SUN OFFICE, MAY 5. THERMOMETER, IN THE SHADE. 60—highest sinee'noon yesterday. 45—lowest this morning and during the night. 54—this day at noon. BAROMETER-29.96. WIND Northerly; light and fine. The war is proceeding, but as yet we have no account of any conflict or act of bloodshed on either side. The Sardinians have retired before the superior force of their opponents, and the Austrians ha 7e contented themselves with levying very heavy contributions on the districts which they have occu pied. They have, in fact, enforced an income-tax on a gigantic scale, on capital rather than income, and that by even a more summary and decided process than any issued from our own Court of Exchequer. It is manifast that they intend that Piedmont should, so far as practicable, pay the expenses of the war. The pecuniary state of affairs at Vienna is truly deplorable. The great bankers ARNSTEIN and ERKELLES, a firm of European celebrity, equal to any in the world, have suc cumbed to the storm, and suspended payment. This may be merely to avoid the heavy demands that would otherwise have been pressed by the Government of FRANCIS JOSEPH, just as fashionable tradesmen in this country are sometimes compelled to suspend payment in order to call in debts sufficient to pay one hundred shil lings in the pound. The forced loan will, however, be materially injured by the absence of ARNSTEIN and. ERKELLES from the assessment! And as money is the first thing required for carrying on a war Austria may be compelled speedily to abate her pretensions and to concede something approxi mating to good government to oppressed Italy. Since writing the above we find that there has been a slight passage of arms, and that the Sar dinians claim to have repelled their opponents at the cost to themselves of twenty men killed and wounded. These accounts, however, come from Turin, and must be taken with all due reserve. As we have already stated, it is impossible to place implicit reliance on telegrams coming from the seat of war, and proceeding from one of the belligerents. This incredulity is enhanced by the fact that General GYITLAI has announced that his army had advanced without any serious combat as far as Combia and Cozzo ; and this is corroborated by the statement in the Moniteur that "the enemy (the Austrians) had crossed the Po near Combio, but no engagement had yet taken place." France is also in the market as a borrower, and to the same amount as Austria. She is, however, far more likely to get her little bill discounted, because she appeals directly to her own people, and any man who bas two hundred francs (£8) available may become a rentier, a high distinction amongst our neighbours. They are unquestionably good financiers, and we have re peatedly advocated the system of appealing to the general public, at a fixed and stipulated price, rather than to large capitalists, or parties who are obliged to bid in the dark, or to make tenders without knowing the stipulated amounts that will be accepted. As to the war that has unfortunately commenced our duty is perfectly clear—it is to observe a strict, albeit an " armed neutrality." We must be pre pared for any alternative that may arise, but not unnecessarily interfere in the contest. Mr. DISRAELI clearly laid down the course to be pur sued on the hustings at Aylesbury, and one of the most brilliant orators of the present or any age has ably followed in his track. The Solicitor-General (Sir III;GH NI`CALMONT CAIRNS) has also explained the policy of Lord DERBY'S Administration. It is to be one of quiet observation, ready to act at a mo ment's notice, but without interfering until a favour able opportunity may arise on behalf of any of the b.elligerent Powers, none of whom can claim or receiv e our sympathies. The maladministration and misgovernment of Austria must have disgusted every right-minded person. But the means adopted by Prance are equally if not more ob jectionable. As the Solicitor-General explained at Belfast, it is a new illustration o f the old myth of the " S tag, the Horse, and the Man." The stag—Aust r i a — but the horse—Sardinia —will find b e subdued, that it can never shake off the burden which in the excess of passion, it voluntarily assumed. An autocrat who allows no liberty to his own sub jects is not the man to confer liberty to strangers, and the Italians would probably find that they would not in any degree improve their position by substituting Louis NAPOLEON, as a dictator, in place of FRANCIS JOSEPH. It would certainty be a change, but one bringing a more hungry de• mandant in place of one already partially gorged. The admirable speech of Sir H. M`CALMONT CAIRNS is well worthy of perusal. It clearly and distinctly developes the policy of the Government, and should be attentively con sidered by every man who has not yet exercised the privilege of the elective franchise. To show how England is concerned in foreign affairs, we may add that the minimum rate of discount at the Bank of England has this day been advanced to 41 per cent., or 80 per cent. higher than that at which it stood yesterday week. The Austrian Government commences the war with a great financial blunder. A loan of £20,000,000 sterling is ordered; " but as the con tract is for the present impossible," two-thirds of the nominal value of the loan is to be advanced by the National Bank in new notes. These notes are to be inconvertible ; but the taxes are to be paid in silver, or its equivalent, " payable in coupons of the National Loan." We observed on Monday that " this would be a wise and prudent step, but that, unfortunately, the first condition which would render such notes unavoidably acceptable through out the empire is dispensed with. They will not be received in payment of taxes, which must be liquidated either in silver or coupons of the National Loan. This unfortunate error on the part of the Viennese Cabinet will neutralise all the advantages that would otherwise have followed so decisive a movement." As this mistaken policy does, in fact, arise from entire ignorance of the value and importance of a sound paper currency, we will explain ourselves more fully. We say, then, that had Austria sus• pended cash payments, or, in other words, declared her National Bank-notes to be inconvertible, and at the same time made these notes receivable for taxes, she would have done a very wise and judicious thing; but that by making the National notes inconvertible, and at the same time refusing to receive them in payment of taxes, she has done a very fcolish thing. Austria wants money to carry on the war. She requires not only a currency for domestic circulation, but specie for foreign or other purposes. Now, had the notes to be issued by the Bank been made receivable for taxes, the very fact of their being so would have preserved them from serious depreciation. The Government could have paid their soldiers and officials in these notes, and no possible objection could have been made by merchants or others to receiving them, because Government had bound themselves to take them back. With these notes the Govern ment could have bought horses, corn, and mili tary stores, from traders in such commodities, with precisely the same facility as gold and: silver from bullion merchants—all at the market price. On the prospect of a war wheat and various other com modities rise in price. Silver and gold would also probably rise; but with an inconvertible paper cur rency receivable for taxes, these metals would rise in a less proportion than many other commodities; for this paper currency would supply the place of the metallic circulation, and release a large quantity of coin from use, thereby throwing it into the bullion market. But whether this rise in the price of bul- ion were greater or less, bullion would always be obtainable at the market price. The Austrians would exchange their commodities for the legal tender, paper, and the legal tender, paper, would exchange for bullion. Under prudent manage ment, therefore, the Austrians might raise taxes for carrying on the war without having recourse to loans, and with this inconvertible legal tender, paper money, as was demonstrated in England between 1797 and 1815, the country might prosper in spite of war, with all its monstrous attendant evils. The Austrian Government might have taken this wise course. But what will be the effects of this unfortunate error which they have actually committed ? The immediate effect will be to throw discredit on the National Bank notes. Government . expects the people to take money in exchange for their commo dities which it refuses to take itself. There will be a paper price and a silver price for commodities. As silver is drained away its price will rise, or, in other words, the price, in silver, of all commodities will decline. The result of this will be that the burden of • taxation will become insupportable, because the merchant will have to give a larger quantity of commodities, the farmer much of his produce, and the working man an increased amount of labour for the taxation money —l. e., silver, than many other commodities. Loans must be contracted on ruinous terms. Commerce will be most injuriously affected. Distress, panic, and financial difficulties of every kind will ensue. And for these effects the Austrian Government will have itself to blame. What, then, is the erroneous principle which pervades this financial system ? It is the principle which lies at the root of the evil of our Currency Laws, viz., that the circulating medium of a nation must possess intrinsic value. We make, indeed, in this country a very contemptible attempt. to carry out this principle. We have neither a purely metallic currency nor a purely national paper currency. We pretend that our paper circu lation is convertible into a certain weight of gold, but when the time of trial arrives the bubble system of PEEL bursts, and the National Bank has to run to Ministers for a letter to suspend its cash payments, as in 1847 4nd 1857. The Austrian Government cannot understand that by guaranteeing to receive their own or the National Bank paper they ensure its character and credit, and its convertibility into everything—gold and silver included. If they understood this y the • would not think it necessary to stipulate that the taxes should be paid in silver. This was exactly what puzzled Sir G. C. LEWIS in 1857. In his speech after the suspension of the Bank Charter Act, he made a garbled statement of the evidence given before the Committee on the Bank Acts by a gentleman of great sagacity and experience (M r . TWELLS), and in his comments on this statement the same ignorance and confusion of ideas are manifest which appear in the present financial arrangement of Austria. Sir G. C. LEWIS, indeed, has not got so far in monetary science as the Austrians have ; they appear to think that at a time of danger and difficulty inconvertible paper money may assist them. WILLIAM PITT adopted inconvertible paper money, and carried on successfully a great war by its assistance ; that very shallow and superficial financial charlatan, Sir G. C. LEWIS, ridicules the idea of inconvertible paper currency altogether. The witness, whose evidence he quotes, states very intelligibly and clearly the advantages of such a paper currency. He says—" We want it for our internal commerce, and we want it to pay Government their taxes." The Austrians adopt paper money for internal commerce, but reject it on receipt of taxes. Sir G. C. LEWIS rejects it for both purposes. The idea of the people wanting paper currency "to pay Government their taxes" evidently appears absurd to the ex-Chancellor of the Exchequer. But what did he understand by theSe words ? Did be sup- pose that an Englishman wanting to pay his taxes would apply to the Chancellor of the Exchequer to give him a note to do so ? Or that the note could be obtained without a fair equivalent being given . for its possession ? No ; every man having taxes to pay must buy taxation money for that purpose. This money he buys with his wheat, iron, cotton, or whatever he has to dispose of. It is the duty of Government to provide the money necessary for this purpose. If the money which Government provides is withdrawn and unduly contracted, not only is the internal commerce •of the country deranged, but the man who has taxes to pay is obliged, in consequence of the ruinous fall of prices caused by the contraction of the legal 'tender cur rency, to give 50 per cent. more of his commodities to enable him to pay the taxes. The present mone tary system makes us liable, whenever gold is with drawn from the Bank, to this violent contraction of the legal tender money, by which trade and commerce are prostrated, and every debtor, and, among others, the debtor to the State, that is, the taxpayer, is forced to pay from 30 to 50 per cent. more than he engaged to do. We want, therefore, money for our internal commerce, and we want it to pay Government their taxes." The Austrian Government and the British Go vernment are . opposed to the notion of receiving inconvertible paper money in payment of the taxes. The Austrian Government.can see no reason why the people should not buy and sell with paper money, but they fear that the Government would be unable to conduct its buying and selling in the same currency. Sir G. C. LEWIS; the then Chan cellor of the Exchequer, on the occasion referred to, said, with a self-complacent temper, " . The House will see that this is rather an interesting question to those who have the collection of revenue, if the 15 notes should not be exchangeable for five sove reigns." " You compel," he said in one of his questions to Mr. TWELLS, " the . Government to take one of these £5 notes for a sum of five sove reigns, do you not ?" Now, suppose specie pay ments were to be abolished to-morrow, and that inconvertible Bank of England notes receivable for taxes were established, how would the Chancellor of the - Exchequer, as a tax collector, be affected He would take his Exchequer Bills to the Bank, and get bank-notes for them. These notes he would pay away for stores and various commodities. With them he would pay the dividends and the salaries of Government officials. Having done so, Sir G. C. LEWIS, if unhappily for the people of England.he were again in office, would,'we suppose, turn round and say, " Here's a . grievance ! why you are paying me back in my own money." This is exactly as ridiculous as if a landlord, on being payed by a tenant with his own cheque, were to complain. " What, my own cheque ! Why a week ago, when I gave this cheque for £5, it would pur chase 21- quarters of wheat, and now you 'compel ' me to take it back when it will only purchase two quarters !" Now let it be observed, that for the maintenance of this paltry currency crotchet of having the bank notes exchangeable to a hair for a certain weight of gold, we have a panic every few years, with ruin to many rich men, and privation and bitter suffering to many thousands of the poor. It may be said that the Austrian Government will obtain an advantage, for silver will become more valuable. But what a price .will be paid for this advantage in the injury inflicted on commerce and in the misery of the people I. With paper money receivable for taxes their Government might have to pay a comparatively small sum for silver ; but this would not be worth consideration when placed against the advantages of the increased prosperity of the people, and the stability of the whole financial system. The first business of a financial minister is to make the nation whose affairs he administers progressively and perma nently prosperous. Make the people prosperous, and the taxes will be paid without difficulty either in Austria or in England. Strange, that at this periodof the world's history the science of money should be so imperfectly com prehended by the people, who suffer from the pre vailing errors, and the statesmen who are thoa instruments of inflicting the suffering. But events are rapidly determining the true principles of a nation's currency. In every part of the continent the financial system is thoroughly rotten. The financial difficulties of India necessitate a change ; and in our own country the next panic will shiver to pieces the ridiculous and self-condemned system which PEEL and OVERSTONE, in their presumptuous ignorance, palmed upon the nation. FOURTEEN has already proved to be the clew gain to the Conservatives—already • when the county returns are only beginning to be accumu lated. FOurteen—when but 523 members have been as yet elected to sit in the new Parliament. Now, Fourteen upon a division counts as twenty-eight— and thirty-nine was the utmost that could be gained in the way of a clear majority upon the occasion when there was one of the fullest houses upon record in the annals of. the Legislature. All that an unnatural combination, not merely of opposing "parties," but of antagonistic " factions," could accomplish in the outnumbering of the compact and united ranks of the Minis terialists: was the fact of their effecting for that once, upon that extreme division,• a triumph giving to the motley conquerors that narrow ma jority in the last House of Commons of exactly thirty-nine ! • That in a house of 626 members ! And now, as we have shown, when but 523 returns from the general election have been grouped together there is apparent a clear gain of fourteen seats to the Ministerialists ; those fourteen counting, as before remarked, as twenty-eight upon a division --only eleven less than the clear majority in house numbering, on the Ist of April, 103 more than the total of the returns (523), already realising that aggregate loss to the Opposition. An analysis of this "Fourteen" shows that out of the 523 returns thus specified, there have been but three gains to the Liberals in the counties (Berkshire, Berwickshire, •and South Lincolnshire), and four losses—namely, one in South Durham, one in East Norfolk, one in South Wiltshire, and one in South War wickshire, giving a balance upon the counties of just one in favour of the Government. Again, upon a careful scrutiny of the borough returns, out of the 523 members at present elected, we find but fourteen gains, and as many as twenty- seven losses placed to the account of the Opposition, showing here, too, a decided advantage in the shape of a clear balance of THIRTEEN in favour of the Government. The " gains" to the opposition compromise two at Maid stone, one at the city of Gloucester,•and one at each of the eleven boroughs hereafter particularised—Bos ton, Barnstaple, Carlisle, Chippenham, Cirencester, Cricklade, Hastings, Limerick, Rochdale, Sunder land, and Wakefield. The twenty-seven Liberal losses comprising in that : ormidable aggregate of recalcitrant boroughs the two seats at each of these five places—Berwick, Dover, Newport, - Weymouth and Yarmouth. And one at each of the seventeen boroughs subjoined—Ashburton, Bedford, Bodmin, Chester, Colchester, Devizes, Frome, Hull, Newport, Pontefract, Truro, Tyne mouth, Wareham, Windsor, Carnarvon, Plymouth, and Helston. The nominations now awaited, with the exception of one or two Irish boroughs, such as !, A ~r 46, t k A . igolk. q. 4 ' ~. -..;:f ' ''' l / 4 t f ', :... At:, 4- V 7 ilt iko ' ......._ 'Qatal, '?''. ~ ":, • itegmalllPlef;po;,;7. l Ditoi -;;., '' , lii O 4 - , - , ,10 ,„'(', . DIE I , ~' '•%'. .. xi ••••':• 1 "- ' '' t. ..-- THE SUN. THURSDAY, MAY 5, 1849. THE SUN, LONDON, THURSDAY EVENING, MAY 5, 1859, Kinsale and Mallow—relate to the United King dom. And here it is, of course, that the returns will tell more decisively in favour of the Derbyites. It is simply preposterous, therefore, to be blinking the fact that Minister 3 have even now obtained a really marked advantage over their antagonists as the result of the late disolution. A elearmajority of fourteen—and the clear majority of fourteen chiefly won in the boroughs—a majority of fourteen, equivalent on a division to TWENTY-EIGHT, is surely something considerable in the way of such an advantage. But the Ministerial feast of gains in this general election is very far from ended as yet. " There are pippins and cheese to come." The fourteen already grasped by the Government, giving them this secure balance upon the division list of exactly 28 on the Opposition, are but fourteen in an aggregate of 523. That aggregate still shows 131 yet remaining to be apportioned to complete the full complement Of the popular branch of the Legis lature. Before the actual assembling of the house, when all the remaining returns shall have been made, the result of the General Election may, of course, be pretty accurately estimated. This, from the mere nomenclature of parties, under the colours of which the different members, old and new, will have been returned to Parliament by their consti tuencies. But that result can only be conjectured approximately. For no one can possibly tell, until the first division, how the conflicting opinions enter tained by different parties, and sections of parties, upon the side of the Opposition, will cohere—how far they will cohere and how long. All that, we repeat, will, after every one of the retiring officers shall have done their duty, still remain problematical. The enigma can only be explained by the tellers—and that hardly even so soon as the division upon the choice of a Speaker. At the initiatory struggle for the choice of a Speaker there will, of course, come a " tug of war" —but scarcely the " tug of war." That—must be re served fora more momentous occasion. Particularly seeing that, apart altogether from mere considera tion's of party the odds are already decidedly in favour of the right hon. gentleman the member for Cambridge University, late her MAJESTY'S Secretary of State for the Home Depart ment. The contest for the chair will hardly be between Mr. WALroLE and its present occu pant. The Right Hon. EVELYN DENNISON has a tolerably fair prospect before him of gaining a peerage more quickly even than Speaker ABER CROMBY. For the latter was twice elected to the chair of the House of Commons—first of all in 1835, in preference to Mr. M. SUTTON, his predecessor; and, secondly, in 1837, without any opposition. And it is hardly probable that the Speaker of the last Parliament will receive a similar mark of una nimous confidence in the next, in which party feel will probably be more strongly developed than ever. Die likelihood being, at this juncture, that while Mr. EVELYN DENNISON is promoted to the Upper House through a Barony—Mr. - WALPOLE will appear as the Government .candidato for the Speakership, and Mr. FITZROY as the candidate put forward on the side of the Opposition. In every thing but persona] popularity in the house Mr. FITZROY would be a formidable successor enough— in everything, we repeat, but the most essential quality of all in such a contest, that already speci fied—namely, personal popularity. Everything, indeed, appears to indicate clearly enough that the ex-Home Secretary will, before another month has passed away, be another illu3tration of the " right man in the right place," as Speaker of the Commons House of Parliament. MANNING THE NAVY. Yesterday the greatest excitement prevailed at the East end of the metropolis, and the vicinity of the Naval Rendezvous, Tower-hill, was surrounded by hundreds of men and lads who were anxious to join the service of her Majesty. A great number of able seamen were selected by the Government officers as low as five feet, but landsmen were not received under five feet five inches and a half. No lads have been taken into the service at present, but a day will soon be appointed to bear the applications of all boys and youths considered suitable for the naval service. The bounty money for those already duly appointed will not be paid until five weeks after they have passed the exami nation of the chief officer. The crowdwas so great at the principal rendezvous, facing the Tower, that body of the H division of police were stationed at the several entrances, under the direction of Ser geants Egerton and Foay, to preserve order, and to facilitate the ingress and egress of the applicants. At all the Government offices in Ratcliff-highway, Shadwell, Wapping, Ratcliff, Limehouse, Poplar, Blackwall, Deptford, and Greenwich, able seamen, landsmen, and a vast number of dock • labourers who had been out of work for a considerable pe riod, joined the Queen's service under the new regulations, and - many were taken on board the Crocodile, lying off the Tower, to undergo the usual training, and to receive instructions prior to being sent to Portsmouth, Plymouth, and other places for embarkation. About 500 agricultural labourers tom the boun ties of Essex, Berkshire, Kent, and Surrey, came up by the Parliamentary trains yesterday morning, and proceeded to the several places at the East-end for enlistment, and many were successful, while others were unable from the number of applicants to gain an interview. Additional orders were received yesterday morning from Whitehall, at Portsmouth, Ply mouth, Sheerness, and other Government dock yards, for the authorities to take on 300 mechanics and other artisans, with a quantity of labourers for the purpose of fitting-up without delay several first-class men-of-war, required for immediate ser vice, under the official directions of the Lords of the Admiralty, and no time was lost in putting on the necessary number in the various departments. Telegraphic' messages were transmitted from the War-office to Woolwich, and other arsenals, with strict orders to the officers in command to prepare large quantities of naval stores, ammunition, &e., without delay, which are to be ready for going on ship-board within forty-eight hours. AMERICA. SOUTHAMPTON, WEDNESDAY NIGHT. The steamship Vanderbilt, Captain Lefevre, has arrived off Cowes, with New York mails of the 23d. News anticipated by the City of Baltimore. She brings 50,000 dolls. in specie for England, and 880,000 for France. She has 240 passengers for England and France. TIIE FRENCH AND SARDINIANS AT SHIELDS.— Considerable sensation was caused at Shields at tide-time yesterday afternoon, when the outward bound fleet was under-weigh, by the Sardinian barque St. Paolo, Captain Revelle, when •proceeding to sea, firing a salute to the French brig of war Agile, which was of course returned, and both vessels dipped their ensign, complimentary to their respmeive• national flags, whilst the crew apparently fraternised during the salute. The appearance of all this was not (ally novel here, but had quite a warlike and ex citing effect. There are only two Austrian vessels in Shields harbour at present, and it is said the captains have great difficulty in obtaining a freight owing to the war.— .Yetecastle Chronicle. _ LIMERICK CITY ELECTION.—LIMERICK, Wed nesday Evening. This city is in a fearful state of excite ment. Large bodies of military and police are parading and stationed in the streets. In Broad-street, about six o'clock, it appears the police were assailed with stones, and other missiles were freely used. The Riot Act was read, rind orders were given to fire. Two men were killed and five wounded. It is feared that, despite the exertions of the' Clergy and the magistrates, together with the police and military forces, some further serious riotinr , will occur. Demonstrations are numerous in honour of the successful candidates, Messrs. Russell and Gavin. STEAM SITIPT'ING.—This department of shipping cannot at present claim any exemption froM the general depression which may be said to pervade the commercial world. It is even feared that, in consequence of the politi cal condition of T.uroPean affairs, the free navigation of waters, upon which a• large amount cf steam and sailing tonnage has hitherto found employment, may undergo in termption. Seine inquiry exists for the charter of small sized steamers, by the voyage; and a feW engagements have very recently been made in coal freights for the French arsenals, at fair rates. In contracts for new steamers very little vas done last month; and building establishments generally remain inactive. The amount of steam tonnage which changed hands in April has not been extensive ; but it is understood that some important negotiations are pend ing,. Inquiries on the part of buyers are not very urgent. Under the dread of impending war, and the consequent political complications, the aspect of the moment is very far front encouraging for shipping property.—(From the monthly eireulaf of Messrs, Alfred Brett and Co.) LATEST NEWS. The following telegrams have been received at Arr. Reuter's office : TURIN, MAY 4. The following official bulletin of the army has been published : " Yesterday the enemy commenced a cannonade from the direction of Valenza, but without effect. From Cambio the enemy advanced towards Sala, on the left bank of the Po. "Another advance was also made towards Turin. An ineffectual attempt was made by the Austrians to cross the Po below Frassinetto. On our side twenty men were killed and wounded." VIENNA, MAY 5. The bankers Arnstein and Eskeles stopped pay ment yesterday after 'Change. DRESDEN, MAY 4. The Dresden Journal of to-day, in reference to the denial given by the Emperor of Russia, says : " Even if there be no definite offensive and de fensive treaty between Russia and France, yet an arrangement may have been made with the object of preventing Austria from coming victorious out of the present conflict." PARIS, THURSDAY, MAY 5. The illoniteur of to-day contains the follow- Lng The Emperor has decided that Austrian subjects may continue their residence in France and the French. Colonies as long as their conduct shall not furnish reason for complaint. Admission of Austrian subjects into French ter ritory is to be allowed only on special authorisa tion. Austrian vessels now lying in French ports, or which may enter any French port in ignorance of war having broken out, are to be granted a delay of six weeks to quit those ports for their destination, or to repair to neutral ports. The Moniteur also publishes the following tele gram : ALESSANDRIA, Wednesday, 1.30, afternoon.-- e rain has fallen in torrents since yesterday. The enemy has crossed the Po near Cambio, but no engagement has yet taken place. TURIN, WEDNESDAY, MAY 4. The following official bulletin has been published ,o-day The Austrians constructed bridges yesterday evening over the two brandies of the Po in the direction of Tortona. The enemy has everywhere levied heavy contributions on the Sardinian popu lation. VIENNA, MAY 3. General Gyulai announces that the army has advanced without any serious combg as far as Cambio and Cozzo. The head-quarters were on the evening of the 2d of May at Lomello. TRIESTE, WEDNESDAY, MAY 4. Advices have been received from Florence to the 29th ult. M. i\lanin has been appointed Aide-de•Camp to General Ulloa. Advices have also been received from Milan to the 30th ult. Postal communication with Pied- mont has been suppressed. FRANCE. PARIS, WEDNESDAY. The Empress Eugenie this day completes her 33d year. _ . . The Imperial reception at the Tuileries last even ing was most numerously and brilliantly attended. All the high functionaries, and the members of the Senate, Council of State, and Legislative Body were present. The Austrian Ambassador, M. de Hubner, has quitted Paris to-day. The Moniteur of yesterday publishes the follow ing account of the sitting of the French Senate, on the 3d inst., under President Troplong. Prince Napoleon attended the sitting. M. Fould, Minister of State, t..ok his seat with the usual formalities and addressed the Senate as follows : " Gentlemen,—l have had the honour of laying before the Senate a statement of the negotiations followed by the Powers up to the moment when Austria, separating her action from that of the other Cabinets, took the resolution of addressing an ulti matum to Sardinia to the effect that if it was not agreed to she would have recourse to arms. " The Government of the Emperor did not wish Austria to remain ignorant of the view it should take of such an eventuality, and his Majesty's Chargé d'Affaires at Vienna, on the 26th of last month, notified to the Austrian Government that if its troops crossed the. Piedmontese frontiers France would be obliged to regard such an inva sion of an allied country as a declaration of war. " The Court of Austria having persisted in em ploying force, and its troops having entered tho Sardinian territory on the 29th, the Emperor has ordered me to bring to the cognisance of the Senate this fact, which constitutes Austria in a state of waT with France." This communication was received with shouts of " Vive I'Empereur !" The President then rose and said— " I take note of the communication of the Mini ster of State. If I may be allowed to add a few words to interpret the sense of the acclamations we have just heard, I will say, while our illustrious colleagues the Marshals and Generals intrusted with commands will maintain the glory of the French name opposite the enemy, the senators who remain here will not shrink from any act of civil courage or devotion to the Emperor. There will be a rivalry of patriotism between them and us— (applause)—for this is a just war; it is simply a reply to a challenge and an aggression. It is the consequence of a secular policy which has always been moved by the crises in Italy as if they were events in France. (f Yes, yes !' and applause.) The Emperor cannot allow Turin, which is the key of the Alps, no more than Rome, which holds the keys of the church, by the hands of a holy and venerated Pontiff—(great sensation)—to fail underlhe usurp ing yoke of an influence hostile to France. (Great applause.) " Italy, then, will be restored to her nationality. She will not be revolutionised—(' Excellent') —but liberated—(great applause)—and that beautiful country, threatened with a master, will find a liberator. " Vive VEmpereur !" All the members rose and joined in the acclama tion. The following report to the Emperor from M. Magne, Minister of Finance, on the subject of the new loan, is published in the liforiiteur : " Sire,—A law has just authorised your Majesty to raise, by a negotiation of State Stock, an extraordinary resource of 500 millions of francs applicable to the expenses of the war of Italy. The period, the mode, and the conditions of effecting this loan have, as usual, been left to the judgment of the Government. It results from the particulars furnished in support of the law that the situation of the Treasury is excellent. The resources which it holds in reserve, and the ordinary means at its disposal, would allow it, without embarrassment to the cur rent services of the State, to devote more than 300 millions to the first expenses of the war. It is therefore merely a s a simple measure of prudence, and in order not to keep capitalists in suspense, that I am about to propose to your Majesty not to defer the opening of the subscription. A national subscription having fully justified the preference which your Majesty has given to that system, there is no reason why it should be departed from. I propose to your Majesty to regulate the conditions of it in the following manner:-1. The subscribers, as in the preceding loans, shall have the choice of either 3 per Cents. or 41 per Cents. 2. The minimum of subscription shall be for 10fr. of ren te. 3. Subscri p tion s for 10 fr. shall be ex empt from any reduction ; those for larger sums shall reduced in proportion , but without being brought below 10fr. of rente. The rate of issue shall be fixed at 90fr. for the 41 per Cents. with interest from the 22d March last, and at 60fr. 50c. for the 3 per Cents., with interest from the 22d December ; 1858, 5, One-tenth part of the- capital Credit Mobilier 515 —lSpanish Threes .. Do. Account RAILWAYS. 40 - 36 25 . _ Cash. Account. Orleans Northern New ditto. 705 .. 703 75 Lyons and Mediterranean 745 .. 750 New ditto Geneva 407 50 .. 402 50 Southern Western 473 75 .. 470 Eastern Sardinian Austrian Exchange on London, at sight, paper, 25f. 6c. ; money, 25f. sc. ; three months, paper, 24f. 971-c.; money, 24f. 021 c. subscribed for shall be paid et the time of subscription, and has bound itself to the Church by a mediaeval Con the remainder in eighteen equal monthly instalments, the cordat, and which is always ready to support the first of which will be due on the 12th July next. The cause of tyranny. The Austrian Minister, Count payments by anticipation will not be admitted except for W ar, subscriptions which shall not exceed 500 fr. of rente. On the Colloredo, has been daily with the Minister of last few days, at the Bourse, the average price of the his Eminence the Cardinal Antonelli, and it has not 41 per Cents. was not far removed from 90fr., and that escaped attention that during such visits the Car of the 3 per Cents. from 61fr. These prices, compared dinal has been frequently seen going up and down with the rate of issue above fixed, show in favour of sub- stairs to the apartments of the Pope. Whatever scribers only a very trifling advantage, but the delay of may have been the subject-matter of the discussion, about twenty months which is granted to them to pay up the subscription, and which, by means of the there have undoubtedly been most frequent and interest which falls due in the interval, will pro- unusual communications between the Austrian cure by anticipation the enjoyment of the interest of Minister and the Papal Government. Count Col the capital subscribed for, constitutes in itself a Lona loredo, in reply to the remonstrances made by this . fide profit of 2fr. 88c. for the 41 per Cents., and of Government, alleges that there is no real increase lfr. 93c. for the 3 per Cents. At all times similar advan- of the Austrian force in Ancona, that the garrison tages have appeared necessary to secure the success of such has long fallen short of what it ought to be, negotiations. Public subscription has the particular merit of calling on every one without distinction and without and that his Government is now only bringing it favour to take part in it. In the preceding loans this up to its proper strength. The numbers which have system has been attended with great success, and there is been added, however, bring up the garrison to every reason to hope that the present one will have results 6,000 men, and I tokl you in a former letter what not less satisfactory. Your Majesty's policy—moderate proportion they bear to the population of the place. and conciliatory in council, vigorous and resolute when the necessity for acting arrives—has found a first conse- There are reports also of a disembarkation of Aus cration in the unanimity with which the great bodies trian troops on the coast of Manfredonia, with a of the State have granted the necessary amount of view to secure the tranquillity of the kingdom of men and money. The people will prove by their the Two Sicilies, and to anticipate any French eagerness to subscribe that in engaging the forces movement. I cannot confirm it, but certainly of France for the defence of legitimate interests, in a nothing appears to me to be improbable, whether struggle provoked by the enemy, your Majesty has shown • regarded with a view to the wishes of the Neapoli yourself the faithful interpreter of the feelings of the nation. " I am, &c., P . m,„„ . ,, tan Government or the strategic necessities The report is followed by a decree authorising the of Austria. We are to lose immediately a portion adoption of the propositions contained in it, and by of the French garrison now stationed in Rome. a decision of the Minister of Finance fixing the The 40th Regiment, a battalion of Artillery, and details for earring the measure into execution. the Chasseurs de Vincennes are under orders to The instructions declare that subscribers not march—some say north, others south. The most paying up instalments regularly will be charged 5 probable information sends them to Rieti, in the per cent. per annum for the time overdue. Abruzzi, on the Neapolitan frontier, and if so the move is significant enough. Should this be BOURSE, May 4.—The market has been steady, owing to the conditions of the new loan, published the case, they can be intended only as a corps this morning. Threes have been done at 60 f. 70c. of observation ; but the probability of their to 60f. 90c.; Mobilier, 500 f. to 510 f. ; Orleans, moving south is increased by the report which 1,092 f. 50e. to I,loof. ; Lyons, 7 37 f. 50 c; to 742 f. prevailed in Naples that four companies of 50c. ; Eastern, 540 f. to 545 f. ; Northern, 815 f. to every regiment were being draughted off and 820 f.; Lombardo-Venetian, 415 f. to 419 f. 50 c. The sent into the Abruzzi. The loss of thi s f o rce following are the last quotations : will greatly diminish the strength of the 41 per Cents. B9 [ Credit Fonder.... 605 Papal Government, and my impression is, that it Do. end month —lBelgian 4i . — is labouring under very considerable alarm. You 3 per Cents 6l 15_[Piedmontese (5) —73 Do. end month 6l 05 [ Roman 7B have been already informed of the efforts which Bank Shares episcopal addresses to increase the native force-- efforts which have proved all but useless. In its desperation too, and in its utter want of good officers the Government has been endeavouring to drag from his retreat a captain Alai, of the Gen darmerie, who formerly rendered the Government good service, and was so insulted by it that he threw up his commission. In 1851 Captain Alai cleared the Romagna of banditti, when. they had grown so bold as to enter the town of Brisighella and arrest the population while in the theatre. His success -wakened the jealousy of the priests, and he retired. In their necessity, however, they have sent for him, and Antonelli has begged him again to accept a commission, s request which he refused. The Pope then sent for him and imposed his commands upon him, but Alai, without returning a definitive answer, went home and procured a medical certificate to the effect that his health would not permit him to accept office. One of the foreign regiments in the service of the Pope has been ordered into Rome, but you will remember my description of them sufficiently well, perhaps, to be assured that they can never be any support to this Government in a moment of danger. An - exchange, too, of native troops is to take place between this city and Bologna ; in fact, not the slightest dependence can be placed upon them, and I should not be surprised , as the national enthusiasm waxes warmer, if a gr eat portion of them do not march off to Piedmont, or, re maining here, if they did not take a part in any po pular movement which might be initiated against the Government. If, then, it be asked on what does the Papal authority depend for support, the au' swer is—On the sufferance of its subjects ; on the will of the Piedmont.ese Government, which at pre' sent holds the whole of Italy under the strictest moral subordination ; and on the persuasion of all parties that the Pope is a great card, to be well guarded and respected. Should, however, as events occur, a general disorganisation take place, then there is no Power which for the love of the Papal Government will attempt to save it. It is unnecessary for me to say that during the whole of this week the greatest excitement has pre vailed in Rome, and that there has been a rush of volunteers to Piedmont. On. the27th inst., by the first train, 60 left for Civita Veechia, and by the second train 80 more. I am informed that there are 1,000 more ready for departure. Many of these have no funds, and the Romans of all classes, excePt the nobles, with one or two exceptions, supply them by subscriptions got up among themselves. On arriving at Civita Vecchia, a few who hrve some" thing of their own manage to get on board the Sardinian steamer in spite of the spies and police men surrounding them ; but the majority go off by land through Corneto, and, traversing the Maremn lll o cross the Tuscan frontier. It was said that some gendarmes had been sent after them to dispute thou' passage ; but resistance will now be met by resist.' ante, and my impression is that the Papal Govern' ment in its fear thinks more of quieting the sus; ceptibilities of the Austrian Government than of opposing the irresistible determination of its oval subjects. ITALY. The following are further details received from i the other parts of Italy :—" The Provisional Go vernment of Tuscany has issued a notice announcing that it has appointed M. Giorgio Manin, son of the late Venetian Dictator, to the post of aide-de-camp to Gen. Ulloa, with the grade of lieutenant of the staff. The provisional prefect of Florence has issued a proclamation recommending the greatest tranquillity under the present circumstances. The 2llonitore Toscano states that the Tuscans had presented an address to the English residents there, and that the latter have replied by another ad dress, in which they plead the difficulties the British Government has to encounter in its relations with foreign States, but declare that their senti ments are in favour of the Italian cause. The Grand Duke of Tuscany has left Ferrara for Bologna. The Tuscan army is actively engaged at present in field-practice. Part of the gendarmerie of Como, who had received Minie rifles from the Austrian Government with orders to repair to Milan, have deserted to the Piedmontese. The Aus trians have formed a military line from Bologna to Ancona, and comprising Foligno. Letters from Naples state that great activity reigns in the arsenals. A levy is in progress, and secret orders have been sent for every regiment to detach four companies to the Abruzzi. The Duke of Modena has sent 600 men against Massa and Carrara. A Piedmontese detachment with two guns has been sent from La Spezia to oppose them." IJOMBARDY. The Milan Gazette publishes the following pro elamatiQn from General Count Giulay " TO THE PEOPLE OE LOMBARDY AND VENETIA. " The provocations given to the Imperial Go vernment by a bold faction in the Sardinian States, an enemy to all order and right, and its obstinacy in rejecting all overtures of peace and moderation, have exhausted the generous patience of our august Emperor and master, and made him resolve to protect the cause of justice and right, and make it triumph by the force of arms. Entrusted, by the sovereign will, with the chief command of the army, the powers of the civil and military Govern ment of the Lombardo-Venetian kingdom are, by order of his Majesty, concentrated in my hands during the war, from the moment the Imperial eagles and our glorious standard shall have reached the Piedmontese territory. The readiness with which your young men have left your flourishing fields to hasten under the Imperial colours, the goodwill with which you have provided for the wants of our brave army, the universal feeling of personal duty, all assures me that tranquillity and public order will be maintained, notwithstanding the perfidious suggestions of the subversive party. In order to protect you in case it were disturbed by some madman, a sufficient force will remain among you to maintain the public peace ; and he shall have cause to repent who, by any means what soever, may attempt to disturb it and to increase the sufferings of his country. Justice, respect for the laws, obedience to the authorities--such has always been my motto . - " FRANCIS COUNT GIULAY." The same officer has issued the following : " TO THE PEOPLE OF SARDINIA. " In crossing your frontiers, it is not against you, people of Sardinia, that we direct our arms, but against a small destructive party, powerful by its boldness, which oppresses you by its violence, rejects all offers of peace, attacks the rights of the other Italian States, and even those of Austria. The Imperial eagles, if you salute them on their arrival without anger and without resistance, will bring you order, tranquillity, moderation, and the peaceable citizen may be assured that liberty, honour, the laws, and property shall be respected and protected as inviolable and sacred things. The constant discipline which, in the imperial troops, is equal to their valour, is a guarantee for my word. Interpreting to you the generous sentiments of my august Emperor and master, I, while treading your soil, proclaim and repeat that this war is intended neither against the people nor against the nation, but against a subversive party, which, under the specious mask of liberty, would deprive the whole world of it, if the God of armies was not also the God of nations. When your adversary and ours shall have been vanquished, when order and peace shall have been restored, you, who may now call us your enemies, will soon consider us as your liberators and friends." THE PAPAL STATES. A letter from Rome, dated April 30, says :-- The events of the week that is closing have crowded so rapidly upon one another that one has scaregly had time to mark them, and in recording them it is difficult to know what relative importance to attach to each. The demonstrations of last Sunday and the conciliatory proclamation of Gen. Goyon are now a tale that is told. It was necessary for the French to do something to satisfy the Govern ment, yet the mode in which it was done vas expressive of the fullest sympathy with the demonstrators. With regard to the disembarkation of fresh Austrian troops in Ancona, of which I in formed you in my evening letter of last Tuesday, if I may believe all that has been told me, it has given great offence here, or rather, perhaps, created great alarm, and his Holiness immediately protested against it through the Nuncio at Vienna. It cannot, however, be imagined that the protest was made or objections urged in a spirit of hostility to Austria, so much as from a fear that it would give occasion to France to send more troops into the Papal States, and thus increase the probabilities of a collision here. All the antecedents of this Government and all sound reasoning would lead every one to the conclusion that its sympathies must be with the Power which THE REVOLUTION IN TUSCANY. The following is an extract from a private letter just received from an English lady resident ill Florence : " FLORENCE, APRIL 28. " I fear newspaper accounts may arrive and make you unnecessarily anxious about me, but there is no ground for fear. On the contrary, t lll3 movement of yesterday is one of which Italy may : be proud ; a movement of force, not of violence, of earnestness, not of fury. The Grand Duke, bean an Austrian by family and i n sympathy, w°11! consent only to a neut ra lit y o f the troops here ill the cause of Piedmont. These troops—ten thou" sand men—being Tuscans and Italians, fraternis.e d and agreed with the people that this neutral subnili siou to Austrian foreign power could not and she' not be. The result was a demonstration, magnificent in its unity, in which, with one voice, on one day , the people and the troops asserted their freedoms' The Grand Duke was forced either to consent t: oppose Austri a , or t o a b d i cate. He preferre d latter, and yesterday escaped with all his family' ministers, and generals. " This is a movement that has been organis ed , quietly f or a l ong t i me, and b y the b est men of it!4lP It has brok en out , no t on l y i n Fl orence, b ut, as I (1,7;:n say you by thi s ti me k now , i n R ome, B o l ogn a, 14 * small towns of Tuscany, &c. It was a grand ( 1 ,,1 which I think it a p r i v il ege t o h ave seen ! Th e Thu' in endea v o ur i n g t o re d uce t o di sc i p li ne t h e tree's ' had, it is said, declared that the first soldier th at made a declaration of revolt sh ou ld be eht. But the united hearts of me n are no t to r e silenced by one foreigner. Th e t roo p s and t .. 11 + , people, sure of one another, met a t th e gr eat fo r t ' ress yesterday morning, and hoisted the t r icolou r Imagine the sun shining, the b an d s pl a ying, 542 , 0 diers and people replying to one ano th er from t" heights of the fortress with patriotism, courafT and cheers, yet no violence, not a drop of blood she; not a shot fired, not an insolent word threl n a out the whole of Florence—imagine orgall" 1 :1 bands of 30 or 50 men coming marching in from parts of the country with the tricolour b a nner' almost every ma n , woman , an d c hild w ith w colour on th e i r s h ou ld ers ; f rom t h e houses streamers of silk proclaiming the same sto r y there was no t a vo i ce against Poor sick s o n Biers in th e h os pit a l s were carr i ed to the °liri windows, with b r i g ht eyes l i ght i ng up th ee ' pallid faces, and w ith f ee bl e c h eers an d g esture s making one with the rest. All yesterday was passed in the assertion of this princi% 0 Placards wer e p os t e d a t a ll h ours of the day in t streets, enabling all to comprehend the movemen t The Podesta takes the government for the womencrn with three oth er gen tl emen. Order was begged : and earnestly granted by every person in Florence, and to-day all are at their usual occupations. ' I ,PL I Austrian general is gone, but the appel was soun d for the soldiers last night,and every man answer', with the same regularity as when obedience 17 _7 1 7 servitude. Last night the streets were thron ge d , for who would remain indifferently in the house ivo " such a time? but no quarrls. The thing is true, universal and profound for petty riots." Specie payments have been suspended in Pied : wont bk Royal decree. The National Bank are to len d th Government £1,200,000.