The Sun. — London, England, 1861-03-23 00:00:00

THEATRE -ROYAL, HAYMARKET. Lessee, Mr. J. B. Buckstone. ' THIS EVENING, the performances will Commence with A DUKE IN OIFFICqLTIES. Mrs. Stirling, Miss F. Hayden, Mrs. Wilkins, Miss Fanny Stirling, Mr. Buckstone, ?dr. Compton, Mr. Howe, tts. Alter which, a new Pantomime, QUEEN LADYBIRD AND HER CHILDREN Ine Pantemimists by the un rivalled Leclereqs, Herr Cole, and Fanny Wright. Commence at 7. J OYAL PRINCESS'S THEATRE. — Lessee and Manager, Mr. A. Harris. THIS EVENING, for the benefit of Mr. Harris, the farce of A.S.S. Followed by the first Three Acts of HAMLET. Hamlet, Mr. Fechter. Messrs. Graham, Meadows, 4tc. ; Misses Heath Klsworthy, &c. Mr. Harris will deliver an Address. After which, CRUEL TO BE KIND. Mr, A. Harris and Miss C. Leolercq. ADELPHI, NEW THEATRE-ROYAL. Sole Proprietor and Manager, Mr. Ben). Webster. THIS EVENING, AN UGLY CUSTOMER. Messrs. J. L. Toole, C. Selby, and Warde ; Miss K. Kelly, and Miss E. Thorne. After which, THE COLLEEN BAWN. D. Boucicault, D. Fisher, Billington, Falconer, Stephenson, C. J. Smith, Ro mer. Miss Agnes Robertson, Miss Woolgar, Mrs. Billington, and Nrs. Chatterley. To conclude with a new Burlesque Extravaganza, entitled JII.UE BEARD FROM A li-EW POINT OF HUE. Messrs. J. L. Toole, P. Bedford, C. J. Smith ; Miss Woolgar, K. Kelly, Laidlaw, and M. Thorne. Doors open at halt past 6—Commence at 7. Box-office open trom 10 rill I. No charge for booking. P r i va te boxes, £2 ts.; Family Boxes, .€l. Orchestra Stalls, ss. ; Balcony, 4s. ; Front Circle Stalls, is. • Pit Stalls, 20.; Pit, Is. dd. ; Amphitheatre, is ; Gallery, 6 d. A c ting Manager—Mr. Wm. Smith. cANTERBURY-HinsterALL-road CONCERTS!!! Westm. Proprietor........C. Morton. A Grand Selection from Verdi's new Opera, IL CORSARO, (This opera has never been produced in this or any other country, except at these Concerts), having met with that de cided success which charactise + the most popular werks of this great Master, will be performed EVERY EVENING ; tother with a Selection from LA FIGLIA DEL REGGI MENTO, by Donizetti, Principal Artistes—Miss Russell, Madame Maria, Miss Tyrrell, Mr. H. Herbert, Signor Tivoli, H. Drummond, and C. W. Bernard. Director, Mr. F. Jonghmans. The Comic Department comprises Messrs. E. Marshall, A. B. Hollingsworth, J. Blanchard, F. Bell, W. H. Welland, and the Brothers Conrad. John Martin's Three celebrated Pictures will remain on view a short time longer in the Fine Arts Gallery of the Establishment. FUNERAL OF VIE DUCHESS OF KENT. In consequence of the Funeral of her Royal Highness the Duchess of Kent, the above establishment will be CLOSED on MONDAY next, the 25th inst. T r H EOXF 0 R D, No. 6, OXFORD-STREET. - . . Madame Parepa, Miss Russell, Madame Marietta, and Rise Poole ; Mr. Swift, Mr. George Genge, Mr. Charles Greville, and Mr. Santley ; •Miss Rosina Collins (the celebrated Vio liniste), and Mr. Levy, in addition to a host of talent, will appear at THE GRAND INAUGURATION CONCERT On TUESDAY NEXT, March 28. THE OXFORD, 6, Oxford-streeet. HIGH WATER AT LONDON BRIDGE. THIO DAY.—Morning, 11h. 17m.—Afternoon, 11h. Mm. To-MORROW. -Morning, Oh. Om.—Afternoon, 12h. 27m. THB WEATHER...-SIIN OFFICE, MARCH 23, 1561. THERMOMETER, IN TIEB SHADS. 61—highest since noon yesterday. 39—Lowest this morning and during the night. 54 —this day at noon. BAROMETER-29.89. WIND—South -Westerly — moderate ; with fair weather. (4, 4S P - :13 ~S _~. ~' '() I'C~E THE SUN. LONDON, SATURDAY, MARCH 23, 1861. We shall not yet despair of having Admiral Sir BALDWIN WALKER brought back and confronted with the Select Committee of Inquiry into the Admiralty Department, with a view to its recon struction. For here at last actually, in the very nick of time, upon the eve of the Easter vacation, comes forth in its entirety and integrity the long talked of, long-wished-for and almost despaired-of and abandoned report of the Royal Commis sioners appointed to examine into the whole machinery and organization of her MAJESTY'S Dockyards, into the whole complex system of their control and management. Glancing, however superficially, down this care fully elaborated report, it is next to impossible not to recognise upon the instant the laborious and conscientious manner in which the inquiry has been conducted from first to last by the Royal Commis sioners. Supplemented to the well deliberated report itself, is the entire body of the minutes of evidence. Sir BALDWIN'S evidence standing forth there amongst the rest conspicuously ! From these minutes of evidence it will be perceived by those who turn over the pages of this important and his torical blue-book, how scrupulously witness after witness has been subjected to a searching exa mination and cross-examination. It is worthy of note, also, that prior to the subscription of the three authoritative signatures affixed to the Report —the autographs of the Earl of GIFFORD, of Mr. R. DALGLISH, and of Sir H. WILLOUGHBY—every one of her MAJESTY'S Dockyards in turn has been (by them) visited and minutely inspected. The conclusion arrived at by the Commissioners being decisive as to the fact—a fact tolerably notorious by this time, and so far scarcely needing, one might think, the formal and official announcement of it—that there is great inefficiency observable in her MAJESTY'S Dockyards in the whole system of their control and management. The nation knew this of course per fectly well long since—only too well in reality. However, here is the familiar truth distinctly as serted at last as a flagrant grievance requiring immediate dissipation, here it is at length distinctly adverted to in a substantial blue-book, as the result of the profound and lengthened deli berations of a cluster of Royal Commissioners. The conclusion thus arrived at by the Commissioners is justified as a reasonable conclusion eneugh, it is indeed demonstrated to be an inevitable conclusion, by the minutes of evidence and the formidable array of " proofs positive" thereby elicited and therein catalogued. The Commissioners having, at the very outset of their Report, avowed, point blank, the deplorable reality that there is, beyond all doubt, an enormous amount of inefficiency observable throughout the whole system of control and management in vogue here tofore at het MAJESTY'S Dockyards—next indicate the causes of this inefficiency—following up the enumeration of these principal causes by a series of important suggestions offered by them, with the express view of rendering henceforth (supposing their suggestions to be thought well of by the Legislature, and to be incorporated in an act of Parliament), with the express view of rendering more efficient both the control and the management! First a all, let us glance, therefore, at the causes of the present inefficiency as they are here enumerated by the Royal Commissioners. And then let us take into account some at least among the more remarkable of the score of hints thrown out by these Commissioners in their report, with a view, not only to the reform of Ar the L'oc.kyard management, but of the reorga nisation, in fact the total reconstruction of the entire machinery of the naval dep ar t ment. of the old The ie.silificiencY system then, the present cyst: In of control and management at her the Commissione rs trace in MAJESTY'S Dockyards, their report to four principal sources: first of all to the constitution of the t.,?rniralty Board itself secondly, to the defective:organzbaion of the various subordinate departments- - thir dl y , to LL. total and absolute want of anything at all bearing the semblance of a clear and well defined responsibility ', ,w t THE SUN, LONDON, SATURDAY EVENING, MARCH 23, 1861. —and, finally, to the absence for a long while past of any practical :means whatever for effectually checking the expenditure both at the dockyards and throughout the maritime department generally, owing to—what, in the name of fortune, is it sup posed to be owing to, in this nation of shop keepers, in this later and greater Carthage, in this commercial chief among the Powers of modern civilisation ?—owing to the want of accurate accounts ! " The system of accounts," say the Commissioners, " is elaborate and minute, but, so far as we can judge, its results are not to be relied upon for any practical purpose." There is every care taken, in point of fact, to give the minutiae of these accounts, yet the result continues in spite of them to ensure nothing less deplorable than a thriftless and profligate expenditure. It is, for all the world, like the realisation upon an enormous scale of that whimsical little burlesque woodcut by the late THOMAS HOOD illustrative of the old adage, " Take care of the pence, and the pounds will take care of themselves." The Unfortunate Wight surprised by a sudden gust while making up his accounts at the open lattice—hastily clapping his hands upon the piles of halfpence while the bank-notes are flying out of window as upon the wings of a whirlwind ! The suggestions next thrown out by the Royal Commissioners in their Report with a view to the ensuring henceforth of greater efficiency in the con trol and management of the Dockyards, and with a view also to the reorganization of the whole Naval Department, now number up to the extent of no less than 20 in the first section of the Report alone—the Second Head of the Report, relating to the purchase of stores and mate rials—the third to the revision of the Naval Accountant-General's Department the last section of all relating to the par ticular expenditure involved in the alteration and transformation of the ships of the Royal Navy of England. Suggestion Al,as it may fairly be designated, is to the effect that " A Minister for the Navy Department " should henceforth be appointed. Nearly the whole difficulty would at once be removed as to the want of anything like a clear and well defined responsibility. Upon that maritime Minister of the Crown, Secretary of State, or whatever else he might be designated, would devolve the entire responsibility of the Naval Department. Parliament, or the nation, through Parliament, would hold him entirely and directly responsible for the control and management of the dockyards. The country would at last be well rid of that old anomaly—squatting astride like the Old Man of the Sea upon the shoulders of the kindbad among the Nations—the old bugbear-anomaly notorious as the Board of Admiralty. The Commissioners propose again that the Dockyards should be looked upon hence forth as nothing more nor less than large manufacturing establishments for the build ing and repairing of the ships of her MAJESTY'S navy that the naval Minister of State should have the power of nominating a Controller-General, perfectly acquainted with and perfectly qualified to manage such vast and important establishments. Several of the sugges tions then following in the report relate to the definition of the relative powers entrusted to this Controller-General and to the next subordinates — selected, these last, by him under the approval of the Naval Minister of State—the Superintendents of the different Dockyards. These Superinten dents having in turn the privilege accorded to them of selecting the officers in each dockyard, saving and excepting only the officers in the ac countants' and in the storekeepers' departments. The Storekeeper-General to be selected by the Minister of State, but to be under the Con- I troller-General—the Storekeeper-General him self choosing the officers in his own department. Ex uno disce omnes—in regard to all the various suggestions thrown out in this report by the Royal Commissioners. Enough has been here given, however, already to illustrate the character and tendency of these suggestions— more than by judging simply ex pede llerculem. We have begun, in fact, from the head downwards : and from that " head and front" (not of their offending), the public will be disposed to judge well of this elaborate result of the lengthened labours of the Dockyard Commissioners. The KOSSUTH inquiry has advanced one little step. It left off last time with Sir RICHARD MAYNE. He it was who gave Sir G. C. LEWIS the note; and the question was who gave it to him. The answer is—" a policeman." Whether Al, or X 21, we are not told. It might be any one of those longeoated personages with shining hats, who are never to be found when wanted, but who in this case, as in so many others, are but too ready with their services when not wanted. " A policeman "—well, a public functionary at any rate; Sir RICHARD MAYNE can tell us, therefore, not only who he is, but how the functionary under his orders got the note; how the official who could not read a word of tie Hungarian language was made aware of the nature of the document ; who, in fact, suggested to the policeman what the note was, and enabled him to procure it. We can now learn whether the Austrian Ambassador applied to an English police man and paid him for his services, whether he was a detective creeping into the office under the garb of a workman, or whether Mr. X. Y. Z. paid some workman to get the note for him. Sir G. C. LEWIS'S explanations do not at all touch the original fraud by which the note was surrep titiously obtained. He said Mr. DAY showed Sir R. MAYNE two sheets of the notes, and that Sir RICHARD might have seen them in the printing-office if he had wished—that there was no secrecy in the printing. True, but it would appear that there was honesty in the print ing. It is not even hinted that Mr. DAY parted ; w of e giving v e n c g o n t v o i nacne any with one of the notes hi mse l f Mr. DAY would never think third party a specimen of anything he was doing for a customer, and which had not been made public. Without inquiring of M. KOSSUTH, h ow could Mr. DAT tell that it was not essential to KOs- SUTH'S object that he alone could issue them ? Sir G. C. LEWIS might ask in vain of Mr. DAY for a copy of anything he was printing for a customer, if the customer were the humblest tradesman, without that tradesman's consent. Thus far, then, the last answer only requires another' question and answer, which will certainly not be wanting. We shall persist in asking yet—Who stole the note ? We shall ask that question till some one shows us that he came by it honestly. We put the question, publicly, before it was put in the House of Commons, and we shall continue to put it till Mr. DUNCOMBE obtains a full and frank confession from the Home Secretary. Mr. DUNCOMBE had, however, other counts in his indictment of British Ministers for Austrianism. One was placing the Foreign-office at the service of Austria, by sending the note there to get it translated. When translated, we should say that the complaisance of sending it to the Austrian Ambassador and of troubling the law officers of the Crown Ny „ a great deal more than Englithmen will thank their Ministers for; we would have left Austria to help herself how she could. Sir GEORGE quoted the opinions expressed in the debate on the GARI BALDI subscriptions, as to the offence of an individual, here, doing anything which should embroil us with a power with whom we were on terms of amity. It was a misdemeanor he said— yet we do not remember that the opinion of the law officers of the Crown was formally taken on the GARIBALDI subscription, or even any warning issued. On the contrary our Foreign Secretary justified it by his own subscription in bygone years to the cause of Greek independence. But FRANCIS 11. and FRANCIS JOSEPH are very different persons in the eyes of our Ministers, though in the eyes of England there is nothing to chose between either the individuals, or the dynasties which they repre sent. Indeed FRANCIS JOSEPH is, so far as years go, and a long series of brutal atrocities perpetrated under his twelve years' reign both in Italy and Hungary, the worse despot of the two. Another and a worse charge of Austrianism is one supported by the telegrams of to-day. The correspondence of yesterday is verified by the news of this morning. Yesterday a letter from Constantinople told us that the writer " was afraid that her MAJESTY'S ship Banshee was going to Galatz" to take on board there the arms which the Hungarian soldiers in Italy had for warded from Genoa to their compatriots at home. Like a genuine Englishman he adds, " What on earth our Government has to do with the matter, I confess my inability to understand." Simple man ! Did he not know that to pat Austria on the back, and to keep Hungary beneath her hoof, if possible, was a special business of our Government. His wonder must have been increased when he saw the Banshee arrive at Con stantinople on the 15th with 10,000 stand of arms on board, which had been taken from Galatz amidst great excitement there while they were being put on board. And well might there be excitement. We hope Lord JOHN RUSSELL will find great excitement here when he meets us again after Easter. To find the Banshee, a British vessel belonging to the Royal Navy, burning good coal and using up her engines on voyages in the service of Austrian despotism will, we should think, not be forgotten. We had almost as soon she had been engaged in the slave trade ! Will the English people endure spending one shil ling of the public money in seizing the arms of Hungarian patriots ? Will they put up with it more than they would have done with seizing the arms which were being forwarded to GARIBALDI; if the heroes of Spoleto were allowed to enlist in the service of Perugian ANTONELLI, and volunteers and arms to go to GARIBALDI, will this country tolerate such gross intervention against oppressed subjects seeking their legitimate rights ? There must be a public stir on this Austrian question. The foreign policy of the Cabinet, while Italy was the object of it, kept it in office. But for Italy, the two leading lords could not have held their ground with the country for an hour. They have, however, done their work. The turn of Hun gary is come, with a cause as just as that of Italy, and with a behaviour, on the part of the people, quite as admirable ; yet we may defy Lord JOHN Rus- SELL to produce a single despatch in which he has, even in a private and friendly way, supported Hungarian rights, and admonished Austria that she was bound to restore them. On this very question of arms, Lord JOHN knows, if he be not far more ignorant than we take him to be, that the existence of an Austrian army in Hungary is an explicit violation of the acknowledged compact howepn the Hapsburg dynasty and the Hungarians. Not a single non-Hungarian soldier can enter Hun gary without the permission of the Diet: It is a part of their Magna Charta, it is no obsolete law, but one recognised so late as in 1848 by the last King of Hungary, FERDINAND, who is indeed the only legal King of Hungary yet. And here is our Government,while Austria illegally keeps an army of hated foreigners in Hungary, prevent ing Hungarian patriots from sending arms to their comrades at home It is evident that both our Home and Foreign Office are sold to the revo lutionary despot of Vienna, and it is for the coml. try to speak out and tell the Government that it will not tolerate an Austrian and Anti-Hungarian Ministry, any more than it would have endured an Anti-Italian Ministry. AUSTRIA AND ITALY. The following circular has been issued by the Sardinian Minister of Marine to the Captains of Ports, dated Turin, March 13 : " It has happened of late that some of his Ma jesty's ships of war were forced, by contrary winds and serious damage caused by stormy weather, and which called for urgent repairs, to take refuge in ports of Dalmatia. " Reasons of humanity and international law would have led the functionaries of any civilized nation to follow a course very different from that which was adopted by the commanders of the Aus train ports on the Dalmatian coast towards the ships of the Royal navy, to whom they did . not even allow an anchorage in the roadsteads, but bade them leave immediately, notwithstanding the stormy weather. Such conduct might, no doubt, entitle his Majesty's Government to use like treatment towards the Austrian ships of war which might seek refuge in the ports and bays of the kingdom. But the King's Government, being very anxious to maintain its reputation for humanity and generosity, and on every occasion to conform its conduct to the principles of international law, the undersigned has to direct the Captains of Ports to use all the means and facilities which may be suggested by the sentiments of humanity and by the urgency of the case towards ships of war, of whatever nation they may be, which, in conse• quence of stormy weather or of serious damage, may take refuge in the ports of the kingdom. With the present circular the Ministry intends to reply to the question recently put by certain Captains of Ports as to the course they are to follow on similar occasions. " CAVOUR. " Turin, March 12." DEPUTATION OF PAPER IW_4NUFAC. TURERS TO LORD PALMERSTON. ut at manufacturingpa A per dep England and Scot land, consisting of about GO in number, yesterday deputation f waited on Lord Palmerston, for the purpose of representing to his Lordship the groat injury done to their trade by the Chan cellor of the Exchequer's measure of last session. Although no reference was made by the deputa tion to the paper duties question, Lord Palmerston expressed himself to the effect that no alteration would be made this year in the Excise laws as regarded the duties on paper. The interview lasted about an hour and, a half. LONDON COAL AND WINE DUTIES.—Sir G. C. Lewis's Bill, which has been printed, continues until July, 1872, the duty of 4s. a tun on wine imported into the port of London by way of merchandise, and also the duties, amounting to 13d. a ton, on ooals, but these duties are only to be payable on coals in ships mooring at or 'westward of Gravesend, or brought by inland navigation or other mode of conveyance within the limits of the metropolitan police district. The 4s. wine duty and the unappropriated 9d. of the coal duty are to be paid into the Bank, to form a " Thames Embankment and Metropolis Improvement Fund," to be applied by the Board of Works to the improve ment of the metropolis in such manner as may hereafter be ditermiaed by Parliament. LATEST NEWS. VIENNA, MARCH 23. An Imperial decree, published to-day, convokes a Servian National Congress, to be composed of 25 clerical and 50 lay members. It is also ordered that in place of the Government Chancellery for the administration of Croatia and Sclavonia, now located in Agram, a Royal Govern ment Council shall be established in that city for the administration of the kingdoms of Dalmatia, Croatia, and Sclavonia. TURIN, FRIDAY. It is asserted that Count Cavour will this even ing submit for approval by the King the following list of members of the New Ministry :—Count Cavour, President of the Council and Minister for Foreign Affairs and Marine; General Fanti, War; Cassinis, Grace and Justice; Minghetti, Interior; Desanctis, Public Instruction ; Natoli, Agriculture and Commerce; Bastogi, Finances; Peruzzi, Pub lic Works; Nuilta (?), Minister without portfolio. AMERICA. QUEENSTOWN, MARCH 23. The Atlantic Royal Mail Steam Company's ship Adriatic arrived here this morning, with her Majesty's mails, from New York on the 13th inst., which were to have been conveyed in the Cunard steamship Anstralasian. The Adriatic landed passengers and mails, and proceeded for Southampton at 6 . 30 a.m. The Niagara, from Liverpool, had arrived out. President Lincoln had declined to hold any inter course with the Southern Commissioners. Colonel Bachus was reported to be en route to take the command of Fort Brown. The New York vessels seized by Georgia had been advertised for sale at Savannah, by way of reprisal, Nothing decisive had yet been done in the Vir ginia and Missouri State Conventions. The Constitutiot of the Confederate States had been pudlifhed. Under it no foreigners or any person not a citizen of the Confederate States are allowed to vote for civil or political State and Federal officers. The President and Vice-President are to hold office for six years. despatched from Sambuca, Girgenti, and Palermo to put down the disturbance. The whole popu lation was disarmed, and ten men arrested, who are now awaiting their trial. The committee for the Garibaldian fund, for the purchase of a million of muskets, has published its accounts, from which it appears that it had re ceived 1,939,577 fr., which were all employed in purchasing arms and stores for Garibaldi's expe- dition. The committee, in conclusion, declares itself dissolved, "the object for, which it was formed having been attained." COMMERCIAL INTELLIGENCE. NEW YORK, MARCH 13, Exchange.—Bankers' bills, 105 k to 106; com• mercial bills, 104 to 105 i. Stocks higher; New York Central, 79 1 ; Erie 334; Illinois, 82. Cotton more active; sales 4,000 bales. Middling upland, 112-. Flour brisk, but a trifle lower. Wheat and coru firm. Pork and beef quiet. Coffee and molasses inactive. Sugars steady. Freights higher. LATEST NEWS. NEW YORK, MARCH 13. The following appointments have been made : Mr. Cassins Kelaiz, Minister to Spain. Mr. Thomas Corwin, Minister to Mexico. Mr. Littlejohn to be Consul at Liverpool. The cotton market is firm. Middling upland 11Ic. to lllc. Other markets unchanged. NEW ORLEANS, MARCH 12. I The cotton market is firm. Middling, 11-Ic. to 12c. Sales of the week, 25,000 bales. Receipts of the week, 15,000 bales . . The brig Kroosts, boun.d from Newcastle for New York, has foundered. The crew have arrived at Boston. LIVERPOOL, SATURDAY. The Royal Mail steamer America, which sailed to-day for Halifax and Boston, took £86,700 in specie. THE BOMBAY MAIL. By the arrival of the Bombay mail we have received our private correspondence and files of papers from Bombay to the 27th February, and from Calcutta to the 18th February. We take the following summary from the Bom bay Gazette of the 27th February : The famine, and the most energetic and philan thropic measures taken to alleviate its terrible consequences, are the chief subject of conversation in India. The Calcutta Committee of the Famine Relief Fund have addressed a letter to the Lord Mayor of London, begging his kind cooperation in obtain ing assistance for the starving people of the North-West. It is to be trusted that the applica tion will be readily met. The money-market of Bombay has been ♦ery tight for some time; and during the last few days the Bank of Bombay has - refused to give any accommodation to the public, not even advancing on Mint certificates payable at 20 days' date, their reserve of cash being only just sufficient to meet the requirements of their charter and of sound banking, namely, one:fourth reserve for notes issued, and, as is considered safe, one-third for deposits. THE PAPER CURRENCY. The following is the Report of the Select Com mittee on the Bill to Provide for a Government Paper Currency in India : To THE HON. THE LEGISLATIVE COUNCIL OF INDIA. The Select Committee appointed to consider the Bills to provide for a Government paper currency have the honour to report that they have received a despatch from the Se • cretary of State for India, dated 26th March, 1860. They have gone carefully through the bill, and have made certain amendments therein, which are contained in the copy of the bill annexed to this report. [From Secretary to Government of Bombay, dated the 20th of August, 1860, and enclosures] : In order to explain the nature and object of the more important amendments it is necessary to refer briefly to the circumstances which have occurred since the bill was read a first time and printed. It then embodied, in the form originally proposed by Mr. Wilson, the scheme of that lamented statesman for the establishment of a great and novel system of paper currency throughout India. The leading features of that scheme consisted in the issue at various circles, into which India was to be divided, and through the agency of an independent body of Commis- . sioners, of a paper circulation of notes, from sr. to 1,000 r., based on a reserve, partly of specie and partly of securities, in a proportion which might fluctuate from time to time, but was in no case to fall below that of one-third of specie to two-thirds of securities. This scheme, which was fully explained by Mr. Wilson in a most able minute and speech, gave rise to many com ments, but his untimely death makes it impossible to know how far he might have been disposed to modify it ; and the bill was read a first and second time with a distinct un derstanding on the part of Members of the Legislative Council that they were not to be considered as committed to its detailed provisions. In the meantime a despatch was received from the Secretary of State for India, objecting to the principle on which the bill was founded, of 13sumg nut*. against a fluctuating reserve of securities, and stating the opinion of the Home Government, that the principle ought to ho tho oarno ac that adAptod in England, of permitting issues of paper only against actual coin or bullion, with the exception of a certain limited amount, to be defined by law, below which it might be reasonably supposed that the paper circulation could never fall. Your Committee concur with Sir Charles Wood in think ing this principle safer and more applicable to the circum stances of India. It is the principle sanctioned by experience, and by a great preponderance of authority in England, and it presents the great advantage of securing a paper currency absolutely identical, beyond a certain safe limit, with the metallic cur.. rency which it displaces, and free from those risks which under the most able management, must attend an extensive issue, by the Government, of promissory notes, based on a large proportion of securities, which, in times of difficulty, might be almost inconvertible. It is an advantage also that (under thisplan) the tempta tion will be diminished for the Government to force the circulation of the notes further than the country is prepared for them ; and that the necessity will be removed for frequent interference of the State with the Money Market by the purchase and sale of securities. Your Committee have accordingly amended the Bill by striking out the 10th and 11th sections, and introducing a clause, declaring that all issues of notes shall be made against actual coin or bullion, with the exception of an amount, in no case to exceed four crores of rupees, which _ . may be issued against securities. They have fixed on the sum of four crores as the maximum limit, because this is very nearly the amount which may be issued in excess of actual specie by the pre sent banks, under their existing charters. The Banks of Bengal, Madras, and Bombay are autho rised to issue, in the aggregate, notes to the amount of five croros of rupees, with a reserve of one-fourth of their total liabilities in specie, to meet their notes and other demands ; and your Committee have thought it light that the mercan tile community should have an assurance that the present amount of authorised issue should not be curtailed, as might practically be the case, if a lower limit than four crores were adoptei. Within this limit also we think that the Government whose general credit and cash balances are, by the words whieh we have introduced, made distinctly responsible as well as the special reserve, may be safely trusted so to regu late their issues as not to endanger the payment of notes for which purpose it will be essential that they should not at first exercise the full power of issuing up to the four crores against securities, but should-proceed with great caution, feeling their way gradually, and always maintaining an ample reserve of specie. Beyond the limit of four crores no issue whatever will be permitted, except against actual coin or bullion in the vaults of the Mint or local treasuries, un less the Legislative Council should hereafter see fit, after experience of the working of the law now proposed, and full discussion and consideration, to pass a further law on the subject. This fundamental change in the principle of the issue of notes makes several changes necessary in the machinery of the Bill. When the function of Commissioners is reduced to the simple one of giving notes for specie or specie for notes, it is obviously unnecessary to provide for an expensive staff, or to make them independent of the Government. The Masters of the Mint may probably be the commis • sioners at the Presidency towns, and the ordinary collectors may act as deputy commissioners at other places. In certain cases it may be advantageous to use the agency of banks, especially at the Presidency towns, or at large places of commerce, where branches may be established. Such an agency would in no respect alter the character of the issue, which would remain that of the Government, who would retain the exclusive possession of the reserves against which the notes were issued, but the banks would simply act as agents for the purpose of greater economy and convenience, in paying or issuing Government notes to the general public. Accordingly, instead of the section obliging the Gover nor-General in Council, by a certain day, to divide all India into circles, and to appoint Deputy Commissioners in each, we have substituted sections giving a discretionary power, except as regards the Presidency towns, which are to be the centres of separate circles, of appointing, from time to time, such circles as may be found expedient, and of making such arrangements with Government offices, banks, or other persons, as may be necessary to facilitate the issue and pay- ment of notes. As regards the circles, we are disposed to leave much discretion to the Government in exercising the power of creating them, as experience only can show to what extent it may be necessary to resort to it. It is clearly impossible to make notes issued at one place payable everywhere, as this would entail the necessity of keeping a reserve adequate for the whole circulation, at each point, and it is difficult to enact that notes shall be a legal tender at an extreme distance from any place where cash can be legally demanded for them. Hence has arisen the necessity for circles ; but it cannot be denied that the division of India into separate circles would be in many respects an evil, and that it would be very desirable that a uniform circulation should be established over as wide an area as possible. We are not without hopes that under the arrangements contemplated this "may be, to a considerable extent, at tained ; and that, as confidence is extended, Presidency Notes, if received at the Government Treasuries, may, with the aid possibly of an auxiliary gold currency, become practically such a general medium of exchange throughout India as to supersede in a great measure the necesaity for local notes. With reference to the question of gold, we have intro , duced an important amendment. Without attempting to discuss the questions which have been raised respecting a double standard, or to depart in any respect from the principle of a sole silver standard, we have thought that it would be a considerable advantage to provide for the possible application in India, of the prin ciple as regards gold as is applied in England in regard to silver. In England, where gold is the sole standard, the Bank of England are authorised to issue not exceeding one-fourth of their gold coin and bullion against silver. We have given a power of issuing up to one-fourth part of that portion of the circulation of India which is repre sented by actual coin or bullion, against gold coin or bullion, at a rate to be fixed by the Government from time to time, and not altered without six months' notice. With ordinary prudence the Government cannot lose by taking a limited amount of gold at a price to be fixed by itself, while it may be a great convenience to commerce in many cases to know that gold can be made available as money at a certain fixed rate. Nor is it impossible that, if a certain fixed minimum value be thus given to gold, and it can be freely taken at the Go vernment treasuries at this rate, the superior convenience of gold and its adaptation to native wants may give it a higher value, and thus, in course of time, a considerable auxiliary gold currency may be introduced. Should these expectations net be realized, no harm will have been done, and the clause will simply remain a dead letter, showing that, with a sound paper circulation superadded to silver, nothiNg more is wanted. Yoitr Committee have anxiously considered another point, namely, what should be the lowest denomination of notes which should •be issued as a legal tender ? The disadvantage of issuing two sorts of notes, one which should be a legal tender, and the other not, seemed to be such that it was desirable to make all the notes uniform in this respect. This being so, your Committee have thought that, on the whole, it would be more prudent not to authorize at present a lower denomination of notes than for 20 rupees. With a circulation of 5 and 10 rupees notes, it appeared to several members of your Committee that there would be considerable risk of exciting suspicion and discontent among the mass of the community, who might be com pelled to take payments, in an unaccustomed medium, for which they could not readily obtain change without loss. If, under the proposed provisions as to gold, that metal should come into general circulation, the use of small notes would be, in a great measure, superseded by a medium which, from its intrinsic value and power of uniform circu lation, must be admitted to possess some important advan tages over any form of small note currency. If, on the other hand, those apprehensions should be groundless, and after a short time, when the public are familiarised with the larger notes, a spontaneous demand should arise for notes of a smaller denomination, it will be easy to introduce a bill, extending the limit below 20 rupees. The other amendments are merely matters of detail which will be seen by reference to the bill. Your Committee have been unanimous in adopting the amendments now submitted to the Legislative Council, and they trust the bill, as it now stands, will be found to embody .al,z. and cAttattllkis to lualia Liao beao fits of a circulating medium better adapted for her wants and for the rapid expansion of her trade and industry, than that which she at present possesses, of a purely metallic silver currency. The last two sections of the bill have been omitted, be cause the Penal Code seems to contain similar enactments. S. LAING. H. B. E. FRERE. H. B. HARINGTON. H. FORBES. A. SCONCE. C. J. ERSKINE. The 16th February, 1861. (From the Calcutta Englishman, of 18th Feb.) In commercial matters there is as yet nothing to report. Imports, exports, and produce market are alike stagnant. Government securities and money have been hanging on hand. In military matters we have nothing to notice, except that a plan is being mooted for the erection of an Outram Institute at Meerut, on the same principle as that at Dum Bum. The Commander in-Chief is still inspecting and reviewing. The sth Fusiliers are rapidly preparing for home, and the 75th are ordered to relieve them. SPORTING lATELLIGENCE. CHELTENHAM RACES.-FRIDAY. The Grand National Hunt Steeplechase of 10 sous each, h ft, 12st each ; gentlemen riders ; over four miles of fair hunting country. 14 subs. Mr. Symond's The Freshman (Mr. Edwards) 1 Viscount Talon's Laudanum (Owner) 2 Mr. Edward Vaughan's Ebony (Thomas) 3 The following also ran :—Waverley, Ralph, Chatterbox, Horror, Volunteer, and Willoughby. Betting—Even on The Freshman, 5 to 1 agst Ebony, 6 to 1 agst Horror, 7 to 1 agst Chatterbox. The Military Welter Steeplechase of 10 sous each, h ft, with 100 added; certain penalties and allowances ; ridden by officers of the army, navy, or militia; three miles. 9 subs. Captain Boyce's Smoke, 13st 71b (Owner) 1 Colonel Baker's The Dodger, 13st 71b (Blundell) 2 Lieut. Riley's Med ora, 14st 71b (Capt. Barclay) 3 The Warrior and Groatnorth also ran. Betting-7 to 4 agst Medora, 3to 1 agst The Dodger, 4 to 1 each agst Smoke and Warrior. Won by a length, two Lengths between the second and third ; a bad fourth. The Southam Plate of 5 sovs each, 2 ft to the fund, with 30 added ; winners extra; the winner to pay 5 sovs towards expenses ; two miles and a half. 9 subs. Mr. Rowland's Brunette (Owner) 1 Mr. Stevens's Piff Paff (G. Stevens) 2 Mr. Williams's Sunbeam Betting-6 to 4 agst Sunbeam, 2to 1 each agstßrunette and Piff Paff. Won by a length and a half. The Military Veteran's Steeple Chase of 10 sous each, h ft, with 50 added; 12st 71b each; winners extra; gentle• men riders ; Military Steeplechase Course ; three miles ; 16 subs, 7 of whom pay 5 sovs each. Mr. H. Handley's The Martyr, 13st 71b (Capt. Blundell) 1 Mr. Formby's Birdcatcher c, 12st 71b (Hon. J. F. Ellis) 2 Mr. E. R. King's King Edward, l3st (Capt. Towneley) 0 Betting-6 to 4 on the Martyr, 5 to 2 agst King Edward. Won by six lengths ; King Edward did not pass the post. OXFORD AND CAMBRIDGE BOAT RACE ---THIS DAY. This great aquatic tournament, which invariably creates immense interest, came off to-day at a much earlier hour than usual. For many years the gallant struggle between the two Universities for the highly-prized honour has been looked upon as the inauguration of the London rowing season, and, as a natural consequence, thousands of persons make business subservient to pleasure and betake them selves to Putney, in order to be present on an occa sion to them so specially interesting. Honour, not the love of lucre, is the guiding star of those who form University crews, to maintain the dignity of the cloth ; the race is for nothing but honour ; and all the trials and all the troubles, all the self-denial, all the exertions, are amply com pensated for, not only by victory, but by a well rowed race. The former, of course, is the crowning effort, but a crew, collectively, is looked upon little less if it did its work well, although it become defeated. It is only such mishaps as the 1859 swamping that really mortify a crew, or mortify both; for, in the first case, there is necessarily a feeling that all their labour has been thrown away—and in the second, the winner plucks inglorious laurels, which some ill-natured persons hint would never have been possessed at all but for the mischance of the opposite party, and so neither are satisfied; and the public, inoculated by the disease, are dis satisfied also, the whole sapiently arriving at the conclusion that they might as well not have rowed at all, as nobody can tell really which was the better crew. The same rule applies to a foul, or any other casualty which may prevent the contend ing parties rowing a clear rightaway wager. What a joyous thing a University race is—what a gratifying exhibition to all who behold it when untrammelled by any of the casualties to which we have alluded. How it stirs men up to emulate, if possible, the gallant example set them; how bene ficial it is directly and indirectly to every man connected with the water; how it sets the circulat ing medium at work; how it gladdens the hearts of the good people at Putney; how it enlivens at an early and dull period of the season the shores there, may be judged by those who have paid a visit to the place during the past week. The Putney folks would like a University race every week, and if formally moved and seconded we verily believe the public would carry it unanimously. We have said nothing about steamboat companies, but it is they who reap the greatest harvest—and that too without any care or anxiety—the fleet attend ing this and every race . of late years being so large as to thin the ordinary passage boats most materially. Since the first contest, which took place at Henley in the year 1829, seventeen matches have been rowed. The first match was won by Oxford. The second •ccurred in 1836, and was won by Cambridge ; the third in 1839, and won by Cam bridge ; the fourth, 1840, won by Cambridge ; fifth, 1841, Cambridge ; sixth, 1842, Oxford ; seventh, 1845, Cambridge ; eighth, 1846, Cambridge'; ninth, March 1849, Cambridge ; tenth, (in conse quence of a foul), in December, 1849, Oxford ; eleventh, 1852, Oxford ; twelfth, 1854, Oxford ; thirteenth, 1856, Cambridge; fourteenth, 1857, Oxford; fifteenth, 1858, Cambridge; sixteenth, 1859, Oxford; and seventeenth, 1860, Cambridge. Thus it will be seen that of the seventeen matches Cambridge won ten and Oxford seven. The competitors to-day, in the eighteenth con test, were— CAMBRIDGE. at lb 1. G. H. Richards, Trinity lO 5 2. H. J. Chaytor, Jesus 3. W. H. Tarleton, St. John's 4. J. S. Blake, Corpus l2 7 5. M. Coventry, Trinity Hall l3 0 6. H. H. Collings, Trinity 7. R. P. Fitzgerald, Trinity Ha 11.... 11 3 8. J. Hall, Magdalene .... 10 7 Cox. T. K. Gaskell, Trinity OXFORD. at lb 1. W. Champneys, Brasenose lO 9 2. E. B. Merriman, Exeter lO 0 3. H. E. Medlicott, Wadham l2 5 4. W. Robertsort,Wadham ll 8 5. G. Morrison, Balliol G. A. R. Poole, Trinity .. 12 7 7. H. G. Hopkins, Corpus 8. W. M. Hoare, Exeter... ..... Cox. S. 0. B. Ribsdale, Wadham The scene at Putney this morning was one of great interest, and the bridge was at a very early hour crowded with persons anxious to witness the start from that elevated position. Both banks of the river at Putney were crowded with spectators as the hour for starting drew near, and the towing path was covered with horsemen, nearly all of whom sported one or other of the colours of the competitors—Oxford being dark, and Cambridge light blue. The river s warmed with craft of all kinds, from outriggers, which were scarcely safe, to over crowded steamers which were very nn safe indeed. The . Oxford crew showed at a quarter to 11 o'clock, from the premises of the London Rowing Club, and were loudly cheered ; and although the odds were against the Cambridge, they, on their appearance, were also cheered by their supporters, and rowed to their post with great spirit and rapidity. The Cambridge crew, having won the choice of station, took the Middlesex side, which gave them considerable advantage in point of wind and smooth water. The race was set for 11 o'clock, and at three minutes before that hour, the immediate vicinity of the start having been cleared of boats and other ob stacles, the signal was given by Mr. Edward Searle, and the oars of the respective crews dashed into the water, and, with a bound that seemed to lift the boats from the river, both crews were off at a tremendous pace. After the first few strokes the Cambridge gained a slight lead, and on nearing a boat which was moored off the Duke's Head, the Cambridge coxswain steered in side the boat, and thus he lost the temporary ad vantage he had gained at starting. The Oxford crew wisely kept the straight course, and after 40 or 40 yards more had been rowed they over hauled the Cambridge, and off Craven-cottage they were about half a length a head. The cheering at this point from the partisans of the com petitors in the over-crowded steamers was tremendous, and served further to nerve the Oxford party for even greater exertion. At the Crab Tree the Oxford had increased their lead to about three boats' lengths. At Hammersmith - bridge the Oxford went through the usual arch (the inside), but Cambridge passed through the centre one, thus again, in our opinion, losing distance; and from this point the race may virtually be said to haiie terminated. The Oxford gained by every stroke they took, and the odds at this moment were Lombard -street to a china orange on Oxford. The Ship, at Mortlake, was reached by the vic torious Oxford boat at 20 minutes and a half past eleven s making the time occupied in rowing the match 23 minutes and a half. The Cambridge boat came :in about a minute after. THE WEA THER: METEOROLOGICAL REPORTS. This Day, I . between 8 and B. E. IM. D. F. C. I. S. 9 a.m. Nairn 129'34 43 141 S.S.W. 4 1 b. 2 Aberdeen ~ _129.36 47 1 45 S.W. 5 1 b. . Leith .129-55 52 49 S. 5 9 o. 3 Berwick 129 . 51 49 47 W. 4 2 b. 1 Ardrossa 1 29'58 46 45 S.W. 3 6 0. Portrush n I 29'54 49 47 W.S.W. 3 3 b. 1 Shields i 29'61 49 47 W.N.W. 3 2 b. 3 Gal way...... 129•66 48 47 W. 6 9 r. 4 Scarborough 129 '6B 46 45 W. 3 6 0. 3 Liverpool ; 29'77 49 47 S.S.W. 2 3 C. 2 Valentin I 29•7 l 1102 40 S.W. 1 9 0. Yarmouth.— 1 29 86 43 42 W. 4 7 °- " London 29'89 48 46 1 S.W - , 2 9 0. Dover 2913 48 147 W. 3 6 o. 2 Portsmouth 3 51 47 S.W. 3 - Portland '2911 48 47 ' S.W. 2 9 0. 2 Plymouth Penzance Jersey 29*99 43 i 43 W. S. W. 2 1 b. 2 1 EXPLANATION.—B. Barometer, corrected and reduced to 32 deg at mean sea level ; each 10 feet of vertical rise causing about 1-100th of an inch diminution, and each 10 deg above 32 deg causing nearly 3-100ths increase. Exposed thermometer in shade. M. Moistened bulb (for evaporation and dew-point). D. Direction of wind (true- - not magnetic). F. Force (I to 1 2—estimated). C. Cloud (I to 9). I. Initials :—b , blue sky; c., clouds (detached) ; f., fog. ; h,, hail ; 1., lightning ; In., misty (hazy); co., overcast (dull) ; r., rain ; s., snow ; t., thunder. A. letter repeated augments—thus, r,r., much rain. S. Sea disturb ance (1 to 9). FRANCE. A Paris letter in the Nord says :—" The follow ing is the text of the convention relative to Syria which has just been signed :—Art. 1. The convention of the 3d September is prolonged for three months, that is to say, from the sth March to the sth June, which is a definitive term. Art. 2. It is understood that Art, 3 of the convention is maiatained. The occupation is to continue under the same conditions as were stipulated by the convention. The condi tions alluded to are to the effect that no change can •be made in the mode of occupation without the consent of the Sublime Porte. Art. 3. The proto col shall have force and value from the sth March, and the ratifications of it shall be exchanged in five weeks, or sooner if possible. The protocol is signed by Prince de Metternich for Austria, M. Thouvenel for France, Lord Cowley for Great Britain, Count de Pourtales for Prussia, Count Kisseleff for Russia, and Vefik Pacha for Turkey." BOURSE, March 22.—The market has been ra ther weak, and prices are a trifle lower than yes terday; Threes opened at 68f 25c., and after alter nating for a time between that price and 68f 30c, are now at 68f 15c. Railways quiet, and some lines a shade lower. The following are the last quotations :- 41 per per Cents ... 96 —I Credit Fonder 935 Do end month.... Belgian 4f lOO 3 per Cents Do. end month 6B 20 I Roman Bank Shares — Austrian Credit Mobilier.... 661 25 Spanish Threes 4B Do. Account 661 25 I Home Debt RAILWAYS. Cash. Account. Orleans 1416 25 .. 1415 Northern New ditto 897 50 .. 900 Lyons and Mediterranean 952 50 .. 952 50 Geneva 3BO 381 25 Southern 538 75 .. 538 76 Western Eastern Sardinian Austrian .. 483 75 .. 485 Lombard 472 50 .. 473 75 ITALY. A grand manifestation took place at Civita Vecchia on the 14th, the people displaying thou sands of banners with the words, " Viva Vittorio Emanuele." The Municipal Council of Velletri having been convoked for the purpose of drawing up a list of candidates for the post of Gonfaloniere, or Mayor, from which the Government is to select one, has fixed its choice upon the following three names : Victor Emmanuel, Count Cavour, and Napoleon 111. Gen. Fergola arrived at Naples on the 18th. The Official Journal of Sicily of the 14th gives a detailed account of the late disturbances at Santa Margherita. On the 4th, Montalbano, the chief of one of the parties which distract that town, was murdered at night in the streets. His funeral on the following day was the occasion for a conflict between his partisans and the adverse party. The latter having barricaded themselves in the com munal palace, and fired at their aggressors, the Montalbanists blew up a part of the edifice with gunFowder. Eight men were killed, and as many wounded on both sides. Troops were immediately BETTING AT MANCHESTER-FRIDAY. Beyond the support given to Spanish Fly for the Earl Spencer's Plate, this might be almost described a blank day, as the betting was of such a desultory character that it is almost impossible to give anything like a correct quo tation. 100 to 8 was offered en the field for the Northamp tonshire Stakes, and 100 to 6 was taken about Rattlebone 10 to 1 was offered on the field for the City and Suburban, 20 to 1 offered against Thunderbolt, 100 to 7 was taken against First Lord, and 15 to 1 about Industrious. For the Derby, 9to 2 was offered on the field, and both Rouge Dragon and Klarikoff were talked about, and there were offers to take 1,000 to 15 about Robin Hood. 7to 1 WllB taken against Klarikoff for the Two Thousand Guineas,and Matador was supported at 100 to 9. Closing prices NORTHAMPTONSHIRE STAKES. 100 to Bon the field (offered) 100 to 6 agst Rattlebone (taken) TWO THOUSAND GUINEAS. 7to 1 agst Klarikoff (taken) 11 to 1 agst Matador (taken) DERBY. 9to 2on the field (ffered) 1000 to 15 agst Robin Hood (wanted) CITY AND SUBURBAN. 10 to lon the field (offered) 100 to 7 agst First Lord (taken and offered) 15 to 1 agst Industrious (taken) 20 to 1 agst Thunderbolt (offered) 33 to 1 agst rlilarity (taken) METROPOLITAN STAKES. Bto 1 agst Betts (taken) CHESTER CUP. 16 to 1 agst Butterfly (taken and offered) 20 to 1 agst Nan at Arms (taken) if U: Thy 20th The I inenl an in( the re is a la a dim' of the augr w In t no alts seen The] the ge and tl deman Englai ehang( the re Aho of Eng In t a decli dam, A The and Bc They Cotton Vas mi A es 1 8 due Railwa Sine, been al A 1 Public has be Consols for the 222 ; d 11d. p( 2s. dis. Fore raodera depress 1858, ceded 1 Cents. and Sp The been o: improv Perth, have a Wester t ',Ball and Lii 68, In tl has bee have Ea Joint been ii have al 68 .; at biscou biernei B In p dia C S cer ' Ditto Ditto Consols Excheq Mexieai Ditto Russiar Ditto Sardinit Spanish Ditto Turkisl LOlll w eater Ton rise, rotto PAL; cules ' rerna r POR Yelose for St. PEN from Foil from 1 Quays Atli froM. J Sail Alli an 80y ; I Arr from : Sai] Gars° VallllB Ditt Ditto Dittc Ditto Ditto Con, PaE Dune for Li An, Solid, Th, to sto VI StewE the d Chan Ilay r quest Pi atratE grant as sh a pie street they Vona, Posse at th four name Mac( atten been Maje AND the I ateseE