The Sun. — London, England, 1856-01-23 00:00:00

TRI SUN, LONDON, WEDNESDAY ZVENING, JAN VARY 23, CAMBRIDGE UNIVERSITY ELECTION.— ' well as all other offensive weapons. We are bound The following Gentlemen form Mr. Den- over in un ques ti ona bl e secur i t i es to keep the man's Lond o n C omm i ttee (with power to add to their number). peace for at least two months—a time amply suf- E. H. Bunbery, Esq., F.R.S., late Fellow of Trinity CoI- loge, Chairman. fic i ent to bring every disputed question to a de- The Rev. J. G. Lonsdale, Trinity Canon of Lichfield, Se eretary to th e N at i onal society, Nothing cisive, if not a satisfacto r y, conc l us i on. &c., Vice-Chair man . Tie Rev. H. A. Alford, late Fellow of Trinity College. more can be required between parties anxious in D. T. Ansted, Esq., F.R.S., lite Fellow of Jesus College, C. Babbago, Eece , F.R.S., r. L.S., &e., Trinity all truth College. and sincerity t o arr i ve at an understand- Iv, F. Bea % doe. Esq. , St. John's College. ing. Whatever may b e sa id or wr i tten, we can— )t. B. hie, Es q ., Fellow of St. Pet er ' s C o ll ege , The Rev. J. W. Blakesley, 8.D., 1 ate Fellow of Trinity not prevent Russia from carrying on her prepa- College. fora tions protr ac t e d contest 2 • John Elijah Bl un t, Es q ., T r i n it y C oll ege. and , as we have J. T. Bowstead, Esq., late Fellow of Pembroke College. already explained, she will play with a full know- Rev. W. H. Brookfield, Trinity College. Douglas Brown, Eeq., Trinity College, ledge of her opponent's hand, because she alone T. B. Burcham, Esq., late Fellow of . Trinity College. can tell whether she is herself sincere in her pro- Charles Batton, Esq., Trinity College. The Rev. Burgh Byam, late F e ll ow of King's college- fessions, The Rev. A. M. Campbell, late Fellow of St. John's College. Geor g e Chance, Esq., Trinity College. There should, therefore, under any circum- E. S. Creasy, Esq., late Fello w of Kin g 's College. stances, be no formal armistice. C. de la Pryme, E sq ., Trinity College. It is, as we The Hon. R. Denman, Trinity Colle g e. stated yesterday, " the unholy thing that should The Hoy, and Rev. L. W. Denman, Magdalen College. be avoided with intense horror," which would, W. C. D. Deighton, Esq., Fellow of Queen's Coll ege . T. F. Elli s , E sq., F.R.S., F.R.A.S., late Fellow of Trinity indeed, afford presumptive evidence that the jute- College. F. Ellie, E sq ., Trinity College- rests of the W es ter n Powers wo uld b e un h es i - The Rev. J. G. C. Fussell, Trinity College, tatingly sacrificed to the secret and sinister infla- T. E. Headlam, Es q . M.P., late Fell ow ef Trinity College. Arthur Helps, Es q .;Trinity College , ences that were enlisted in the Muscovite cause. Edward Holland, Esq., M.P., Trinity College. J. Jervis, Es q ., Trinity Hall. - A diplomatic armistice is, then, i mposs ib le, i t the W. Jones Loyd, Esq., Trinity Coll• ege e Allied Powers are fairly rep College. resented ; and, if so, The Rev, B. H. Kennedy, D.D.e late Fellow of St. John's the second and third divi s i ons o f t h e First Point J. A. Kinglake, Serjeant at. Law, Trinity College. no longer require discussion. ft G. Latham, M.D. F.Ro9. late Fellow of King's Colleg e . L. H. Law, Esq., late Fellow' of King's College. J. G. Shaw Lefen g ham Lawrencvree, ~ Eel late Fellow of Tri n ity College. w h a t l oca lit y are these all-important discussions College. .r. 4 A.se., F .R.S., l a t e F ellow of Trinity to be conducted ? There is an insuperable objec- John Locke, Esey., Trinity College. C. B. Locock, V•.,.q. Trinity College, tion to Vienna. We have already witnessed with The Right HOP.. T. lil. Macaulay ef.p , F.R.s , l a t e Fellow shame and indig n ation the changesproduced in of Trinity Colle,ge. ' • • . H. J. Sume.er Maine, Esq late Regius Professor the mind of one of w h om E ng l an d once was prou d of Laves. •, L • L•D • 1 A. —who failed i n the trial to which be was sub- T. Medkin, Esq., T r i n it y College. C. H. !•faltby, Esq., Trinity Colle g e. jetted ; and, by an act of political felo de se, vir- Horate Mansfield, Esq. late Fellow of Trinity Cell ege . W. W. Pears on , Esq., Trinity Colle g e. tually destroyed his existence as a st a t esman . R. Perry, Esq , Trinity College. We should not expose any new plenipotentiary to C. J. Preston, Esq., Downing College. The "Ri g ht Hon, Sir John Romilly, Master of the Rolls, the ordeal under which Lord JOHN RUSSELL so Trinity College. The Ri g ht Ho n . Si r Ed ward Ryan, F.R.S. , Trinity College. sign ally failed. Some other less tryin g l oca lity .1. Miller Surethurst, Esq., Trinity College. should be selected as the scene for future diplo ri. G. Smith, Esq., Clare Hall. The Hon, W. Sp r i ng Ri ce , Trinity College, matie tournaments. The Hen, C. Sprin g Rice, Trinity College, We should also take care that Prussia shall John Sykes Esq., Fellow of Pembroke College. take no partiin the co n t roversy . Sh e has already W. J. T ay l or , Ewe, Trinity College. 'tom Taylor, Esq., late PelloW of Trinity College. cautiously abstained from anything calculated to Martin Thackeray, late Fellow of Kiug's College. Henry Thrin g , Esq. ' late Fell ow o f M agdalen Co ll ege . id en tify h erse lf w i th the Allied Powers, and, in The Rev , C. J. Vaughan, D.D , Head Master of Harrow, late Fell ow of Trinity College. so cluing, has unequivocally abdicated h er poe • t- C. M. Vialls, Esq., Trinity College. tion as one of the leading Powers of E uro p e . I n ii, W. W a t son , Esq. , Fellow of Trinity College , J. Westlatte, Esq., Fellow of Trinity College. so doing she has clearly foregone any possible The Rev. Rotero Whisten, late Fellow of Trinity College. claim to be represented at the con f erences . H er The Hon, Mr. Justi ce V aug h an Will i ams , Trinity College. The Hon. Sir William Page Wood, late Fellow of Trinity sympathies and leanings are so notoriously in fa- College. J. Woolley, M.D., late Fellow of St. John's College. your of the AUTOCRAT that her admittance could J. Worlledge, Esq., late Follow of Trinity College. only operate in favour of her good friend and F. T. Wroth, Esq., Fellow of St. John's College. E. Yardly, Esq., late Fellow of Magdalen College. ally, the nephew of " the Angel of Peace, the exemplary Clicquot," who might be an ex cellent co-operator in a convivial symposium, in which, as in the olden time, a man with whom "Yon could drink in the dark," and who was certain never to shirk the bottle, would be an acceptable companion. But 'too weighty matters are now at stake, and FREDERICK WILLIAM must abide by his first determination, and keep him self in every degree aloof from the contest—either in the field or the Council chamber. . The chief thing to be avoided is procrastination,. We have already suffered too much from wilful delays and " waiting for orders" when the acceptance by Russia of . Austrian Proposi tions was even more decisive than at present, and when there were fewer points for discussion, and, consequently, leas loop-holes for evasion than at present. Parliament will meet in little more than a week, and Government should, be yond all things, avoid committing itself until the opinions of both Houses, and of the leading mem bers of the hereditary and representative branches of the Legislature, can be obtained. Then it may negotiate on the most satisfactory and constitutional grounds, with the approval of those authorised to a great degree, if not abso utely, to give expression to popular feeling. SALE OF STORES. T HE Principal Officers of her Majesty's War Department hereby give Notice, that a quantity of Old Wood and a Standing Crop of Reeds will ho sold by public auction in the Royal Arsenal. Woolwich, on THURSDAY, the 24th January, DI U, at eleven o'clock in the forenoon precisely. Catalogues may be had at the War Department, Pall-mall, and Royal Arsenal, Woolwich. THEATRE ROYAL, ADELPHL—Grand MORNING PERFORMANCE.— On FRIDAY next, Jan. 2i, by genergtl desire, and on this the tut and only occasion, a Grand Morning Performance of the Burlesque and Comic Panto mime of JACK AND THE ItEAINT STALK; or. Harlequin and Mother (loose at Home Again. Jack and Harlequin. Madame Ce►este. Mother Goose and Columbine. Miss Wyndham. Clown. Mr. Garden. Pantaloon, Mr. C. J. Smith. Doors open at half-past I ; eminence at 2, and Conchide at 4 precisely. THEATRE ROYAL, HAYMARKET. Under the Management of Mr. Bucks Was. RVICIPTY(I. SHE STOOPS TO CONQUER. After which the New Comic Christmas Pantomime, entitled THE BUTTERFLY'S BALL ANT) THE GRASSHOPPER'S FEAST; Qr, Harlequin and the Genius of the Spring. To .c n ludo with ONLY A HALFPENNY. ItIYAL PRINCESS'S TfIEATEE, OrFORD-Br2Err. Under the Management of Wr. CHAUXII nag. VHS EVENING. The Tragedy of HAMLET. Hamlet by Mr. C. Roan. After which, MARI.IF.QIJIN AND THE MAID AND THE MAGPIE ; or, tha Fairy PAXIOIBI and Ilanty Pany, the Enchanter. Harlequin. Mr. Comae% ; Clown. Mr. Haling ; Pantaloon, Mr P4olo ; and Colunelina, Mies Caroline ,dame. TETICATME ZOTAL rroprietor, mr. B. Web ster.—Dtractresi, Itzdarne Celeste. Ting V DOMESTIC ECONOMY. After which, URGEN I' PRIVATE AFFAIRS. To conclude wit If the security of a camp or fortress bail 1. ,414, achieved under circumstances of peculiar difficulty by the use of a military weapon, what would be thought of the commander who, when the emer gency had passed away for a time, wantonly de prived his followers of the well-tried instrument whose utility had been so clearly established, and that without providing any adequate substitute ? The natural conclusion would be that be had formed a treasonable plan for delivering over his troops into the bands of the enemy. No rational excuse could be offered for so grave a mistake— madness or treachery would be the only alter- I native. ACK AND THE BE VT STALK ; or, Harlequin and Mother Goole at Rome Again. In which Maori. J. Bland. P. Radford, Madame Celeste, NW Wf lid lad an, and !ilea E. Arden will ap)ear. ROYAL SURREY THEATRE. Lessees, Henri. Shepherd and CrewlA. THIS EVENING Plt-RlB IN 1792. To conclude with A Killer. OP PitARLS'; or, liarlelutu ani Jane Shore. R3YAL OLYWPEC THEATRII. Lesieenn.lMariX;el 6 , Mr. Alfrel Wigan. Teriq F.VICZTTNG. TEM JEATAXIS WIFE. But those who have controlled the monetary affairs of the nation have exhibited a similar act of insanity, er something still worse. A national bankruptcy was averted iu 1825 by the acciden tal discovery of a box of 1/. notes ; about 1,500,0001. whereof were put into circulation, and which at once allayed the panic that pre viously prevailed. " The gold of the Bank was drained to within a very few thousand pounds. * * -k ` A certain Saturday night closed with nothing worth mentioning." Such was the state ment of an unexceptionable witness, the late Lord ASTIBITRTON, who also describes the almost miraculous effect of the reme d y so judiciously The "d omest i c institution " of the United adopted—" The relief was immediate," said his States, or to give its branded appellation, Lordship; "th e coun t ry rece i ved a circulating me- " Slavery," rankles like an envenomed shaft in ilium in which everybody had entire confidence, the body politic, and threatens, if not dissolu and the useless gold was returned to the Bank ! " tion, a speedy and dangerous crisis. It is to this The formidable difficulty was surmounted by a cause the strange spectacle of a legislative assem liberal issue of paper not based on bullion, dad bly, after weeks of debate, being unable to corn chiefly of 11. notes. And can not it be credited plete its introductory business, viz., the election that one of the earliest acts of those thus provi- of a President or Speaker, is ascribable. Accord dentially rescued was entirely to prohibit all ing to the rules and regulations of the House au notes for less than 51. ; and subsequently to Ma- absolute majority of votes is necessary to the pose very stringent restrictions on the circulation appointment, and, so far as we know, no candi of notes of any denomination beyond a certain date, to this hour, has been able to command such specified amount, unless based on specie locked i majority. Already the patience of President up and deposited in the cellars at Threadneedle- PlERCE—though that is not saying much—has street ° been exhausted, and, contrary to all pre- This reckle ss an d i ndefensible policy has on cedent, his Message has been thrust on many occasions p ro d uce d the utmost misery to a Congress without a head, and the the industrious classes ; has converted those who I problem now is how much longer the patience of ought to be the creators and producers of national the majority of the American public will bear wealth into unprofitable consumers —has over- the infliction. It is said that two questions of paramount, if thrown many solvent houses, and consigned whole The circumstances which have given rise to this not vit a l, importance are now under 'discussion at families to the tender mercies of the union work- remarkable political conflict may be briefly stated. Vienna, one relating to an armistice, the other to houses ! What reasonable or valid objection can Some thirty years ago it was resolved that a per the 'venue of the forthcoming Conferexces. Under even the most inveterate bullionist offer against manent geographi ca l boundary line should be the first he a d t h ere are three sub-divisions : the use of the smaller denomination o f notes ? drawn between the Slave and Free States, Cali -Ist. Whether there is to be any truce or ;Innis- Why are not five U. notes as good to a ll intents fornia and other States being classed by the tice. 2(1. Ou what teruls is it to be managed ? and Si. note ? Th e y will operation of that measure among the latter, and purposes as a single J . and, 3 d l Y, How long is it t o last ? If the views be far more convenient for all the purposes of Oregon, NewMexico,Utah, and Minesota as "terri we have already repeatedly put forward be cor rect, anything approachi ng t o, every-d ay li fe, and, if based on the same securi- torsos" --an interm e di a t e and probationary condi- or even bearing the ties, will be just as valuable as what "Mercator " tion. The design of this resolution was to effect a sem bl ance of, a suspension of hostilities?, would be might consider the more orthodox currency. final settlement of the slavery question —a question highly prejudicial to the interests of the Western An eminent London Banker once told us that even then pregnant with serious danger to the Powers. If Russia be 'sincere in her professions their chief objection to 1/, notes was, that in case well-being and stability of the Union. How far --if she be rea ll y s iesiroirs of saving th e f urther of a run one hundred people with 1/, each would the measure failed to produce this result the sub effusion of blood—or averting the enormous evils be as had in the lump as if they represented one se quent history of the United States sufficiently incidental to a state of War, she has it in her or two hundred thousand pounds, for the crowd shows. A fierce conflict of opinion, increased by unequivocal in- was all ! We replied, that may be all very well the slave States obtaining the power of recapturing Power to do so. Let clear and structions be forwarded t o her representatives to for a company, but there can be no run avoid hair-splitting diseussioue, and to be pre- upon a ru naway s l aves upon freo soil, has boon waged, Nation a l B ank note, f or which the country is until at length the latter infaesous enactment was pared to close at once with fair and reasonable pro- responsible. El i Else why trust positions, with out t with upw ar d s of openly resisted, and the Nebraska A c t came t o unnecessary procrastination, or eight hundred million s ? His answer was a bri ng th e question to an issue. By a provision awaiting additio na l authorityfrom St. Petersburg, shrug of the s h ou l ders 1 of that act it was left to the citizens of Nebraska, If anxious for an honourable peace she will confer In Scotland and Ireland they have continued a new plenary powers on thoss i e " territory," to decide for themselves who m sh e c an safely in use, and are fully appreciated by the People- whether their soil sho u ld b e a f re e one or not• confide, and will at once sancti on th e arrange- Our sagacious and clear-headed brethren beyond To Prevent the in of so detestable a rentssYs entered into by her P lenipotenti ar i es ! At t h e T wee d se ld o m see a sovereign in their business tens as slavery on an unpollutedsoil, and restoige . as far as might be the lost balance of power between present the state of the weather is the best seen- transactions. If received from some wandering city agaiast active operations. General Winter tourist it is speedily paid into the nearest bank, the two descriptions of States, became a paramount duty, in the estimation of the ou s traged lovers of commands that ail the belligerents shall for the or exchanged, on the first favourable opportunity, time being "drop their swords and daggers" as for the despised ono pound notes. The more ira- freedom in the Northern States Societies were After which will ba produced a New and titubly-moral, though xcetilvely old, Melodramatic Fairy Extravaganza, entitled Tag IMS;;RFIE: r PRINT° FASI ; a', the Three Gleec Distaffs. In which Mettrt. Emery, F. Robson, IL Omar, Mist „Manton, •nd Miss Maeltell will appeir. ARTtrrs ROYAL AMPIITTEIZATRE. Lecsee and Ma/lacer. Mr, Win. Cooke. FIVE GRIND JUVENILE NIGHTi, by particular desire. THIS EVENING, A Gran Equestrian • Comic Panto•nime. calle4 HARLEQUIN AND ST. GE O RGE. AND THE DRAGON; or, the Seven Cham pions of Christendom. After which the •uneqaalled •ExhiWtion of EQUESTRIAN ART to the CIRCLE, including the performance of :Miss Kate Cook, la leur de FArt'ne. The 514c10,19 Elephants will appear. To conclude with the faithful portraiture of one of the most popular Romances ever written called ROOK WOOD; at, TURPIN'S RIDE to YORK. Bex-oace open from 'Coven till Foar. Stage Yammer. Mr. W. West. Sauestriam Dir%toe. We. W. Cooke. hut. HIGET WATER AT LONDON BRIDGE. Tale DAT—Morn. 52 min. aft. 2 —Evening 8 min. aft. 3 1 17 , 1-ifolutow—Morn. 28 min. aft. 3—Evening 44 min. aft. 3 THE WEATHER--SuN °melt. JAN. 23. THER3fOMETRE, IN THE SHADE. -higkeet since noon yesterday. 42—lowest this morning and during the night. r h ; -this day at noon. BAROMETER, 29.39. Wyny, W.S.W. to W.N.W.—Weather very variable ; in the Learning and now line sunshine. t ) Nbm ';',•! re ,s 4.. ••., • ~~~ a LONDON, WEDNRSDAY, JANUARY 23, 1866 pulsive inhabitants of the Emerald Isle are equally decided in their predilection for small notes ; and if the tendered sovereign be at all worn a discount is generally demanded. The superior convenience of paper is thoroughly recognised in both the sister kingdoms, and so it would be in this country hut for the senseless and ridiculous prohibition of that which would prove a very convenient me dium of exchange—the best possible measure and representative of bona fide value. On Monday we pointed out the extraordinary effect produced on the Money Market by even the ru mour that it was in the contemplation of Govern. ment, on the suggestion of the Hon. Gentleman the member for Westbury, to issue twenty millions of national one-pound notes, which should be received in liquidation of all taxes and duties payable to the Exchequer. The mere whisper of a project in every respect so beneficial to the country, led to an immediate improvement in all the quotations, and probably exercised no incon siderable effect in maintaining the buoyancy of the Money Market. It is no recent suggestion of Mr. WILSON'S. While desirous of maintaining the convertibility of the Bank note he clearly ex hibited the absurdity and injurious consequence of the groundless prejudice entertained against the use of one-pound notes. Long before he became connected with the Ministry, before even the commercial crisis of 1847, he declared " that no more danger can exist with respect to one pound notes than those of five pounds, by the system which he advocated, while at least twenty millions of capital would be liberated Immedi ately from an unproductive use, and rendered available for the purchase of food and raw mate rials for the employment of our population, and for all the purposes to which such an increase of capital could be applied," and expressed a firm conviction that, in the then difficulties in which the country was placed, "a Mere prejudice, founded upon the adoption of false principles, half a century ago, would not be suffered long to remain between the country and such a boon." These are the opinions of ono of the ablest bul lionist writers. A man of much sounder judg ment than " Mercator," or any of the preju diced or interested adVocates of the Act of 1844. He did not seek unduly to extend the circulation by the issue of inconvertible notes, but, as he declared, "to substitute paper, payable on de mand—the instant and immediate convertibility of which should be secured by a sufficient reserve of gold coin, and the remainder in Government Secu rities—for the gold now performing the purpose, which such paper would do equally well." The Hon. Gentleman then estimated the sove reigns in daily use at fully thirty millions, of which he calculated that at least twenty millions could be liberated by the issue of one-pound notes ; and he inquired, " Who could doubt the safety of paper to the extent of 50,000,0001., guaranteed by English Consols to the extent of 34,000,0001. and gold to the extent of 16,000,0001. ?" Adding, . " While, therefore, at present we economise the capital of the country by the use of five-pound notes and upwards to the extent of 14,000,0001., we would accomplish the same to the extent of 34,000,000/., or 20,000,000/. in addition, by the use of one-pound notes, and with the most perfect safety. We should thus immediately add to the effective capital of the country, to our stock of commodities, or, which is the same thing, our command over them, to the extent of 20,000,0001:, just as much as if we dug that amount of bullion, out of the centre of England, in the same way as France will add to the amount of her capital by extending her issues from notes of the amount of 20/. to those of 5/. ; and in the same way as Russia has, by the law of 1839, Roca rza ulated in the fortress of St. Peter's and St. Paul's bullion or capital to the extent of 10,000,0001." As to the proposed one-pound note he said— "No better security could be offered. No more absolute representative of real capital, or a command over it, could be found in this country. No one doubts the security of Consol warrants or bars of gold, and surely no credit, based upon such un deniable representatives of value, could be con sidered as undeserved or subject to abuse." We have thus pointed out the views of Mr. WILSON, clearly and distinctly exhibited nearly nine years ago (in May, 1847), when unbiassed by any party predilections or Ministerial exigen cies. The relief which he so ably advocated is far more urgently required at the present time, when we are engaged in a fierce contest, and the national demands on the tax-payers_aro-so greatly enhanced. By maturing, extending, and carry ing into practical execution his sagacious project, he will enable England to mAntain the struggle in which she is engaged until it can be drought to a satisfactory conclusion, and to curb the pride of Russia without occasioning unnecessary suffer ing to her industrious children. formed, money was subscribed, and emigrants pledged to give effect to their Wishes by voting the territory " free soil" were despatched in such abundance as to give the Free Soilers of Nebraska a clear majority. The day of election came, and to the world's wonder a large body of the more desperate slaveholders of Missouri, a neighbouring State, invaded Nebraska, and insisted on having their votes received at the poll. The result was the Slavers were in a majority, and on the meet ing of the Legislature Nebraska was declared a Slave St ate. LATEST NEWS. SUSPENSION OF HOSTILITIES. We have just received a letter from Paris, which informs us that an armistice has been agreed upon by the belligerent parties, and that the do cument was signed yesterday in London. . BERLIN, JAN. 21, EVENING The existing Governor refused to acknowledge a Legislature thus constituted. President PIERCE VMS appealed to, and he, being at the time fishing for southern votes, and pledged neck-deep to the slave party, repudiated the act of his own nominee, dismissed him from his post, and appointed a zealous slaver in his stead. The Northern States indignantly denounced the whole procedure, and laughed to scorn the impudent assertion of the friends of General PIERCE, that the Missourians had done no more than themselves, and that he had done his duty in adopting the acts of the existing Legislature, however constituted. The Free-soilers of Nebraska have taken up arms in vindication of their rights ; the Slavers of Mis souri are prepared, or preparing, to meet them, and a small military force of the Union is taking up a position between the two parties to prevent, if they can, a collision—practically, to look on merely and see fair play, or join the stronger. This state of things involves imminent danger to the republic, and it is to prevent the discussion of the affair in Congress that the delay has taken place in the appointment of a Speaker. Armed with the consciousness of a good cause, the Free soil party are anxious to bring the question to au issue which, in the present state of the public mind, is the very last thing the Slave party would have. In the meantime the Know Nothings, who could decide in favour of the Free-soil candidate, remain neuter, and division after division testifies to the determination of the hostile parties. How it will end we know not ; but, whether the Free- Boilers are defeated or no, slavery will, before long, be abolished in America, or the States will cease to be united. Letters from St. Petersburg state that orders were sent off on the 18th to General Gortschakoff to suspend hostilities in the Crimea. The general is expected without delay at St. Petersburg, to be invested with the functions o Governor of Poland. It is generally expected here that an armistice will be concluded between the belligerent Powers. BERLIN, JAN. 22. The Journal de St. Petersboury of the 21st ins has the following : In consequence of the general desire of Europe, the Russian Government has not wished to delay the work of conciliation by entering into negotia tions of detail, trusting that her moderation will bo duly appreciated. It is stated as positive that the decision of the Russian Cabinet in favour of peace was exceed ingly sudden, and was unexpected in very high official quarters in St. Petersburg. The Russian residents at Vienna, and the per sons connected with the Embassy there, had made every preparation for departure. There is every reason to believe that Prussia will be invited by the Allies to join the next Con- erences. Prussia w►ll have, however, to give her adhe- sion to the Austrian propositions, and to lend her assistance, to the same extent as Austria, to enforce them, if the negotiations should fail. If Russia should recede now, we may look for a general coalition of the German Powers against her. MADRE), JAN. 20. The Gazette publishes the decree which concedes ;he Saragossa Railway to the French Grand Cen- ,ral Company. The Cortes yesterday adopted the bills for the Credit Mobilier and the Bank of Spanish Capi talists. ,We learn from Vienna that the Austrian Go vernment has steadfastly set its face against a con tinuation of the war. All the journals have been ordered to express their confidence that the nego tiations will lead to a treaty. The .Donau, for expressing doubts of their successful termination, has been seized and confiscated. THE WAR IN ASIA. A letter from Constantinople of the 10th in the Gazette dir Midi says : " The war in Asia is assuming disquieting proportions. According to the last accounts General Mouravieff, after leaving a garrison in Kars, and sending his materiel to Gumri, has advanced towards Erzeroum, and is at pre sent at only an hour's march from the town. A letter from that town says :--' Communications are intercepted by the cold, and the Turkish troops collected at Erze roum have only a small store of provisions, If the Russians invest Erzeroum as they did Kars, it will be impossible to send Stores into the place by force, the rigours of the season preventing the march of a corps-d'arrn4e cf auy importance. Erzeroum, being badly fortified, would therefore be forced to surrender in less time than was required to reduce Kars.' Whilst the enemy is thus turning to ac count the advantages of his situation, we learn from Redout-Kali that the army of Omer Pacha is in a state of complete demoralisation. The populations of the ter ritories which it passed through iu its march on Kutais and its retreat on Batoum were constantly hostile to it. The privations it hss to suffer are extreme, and all the generals who took part in the campaign of Oratr seeing that the affair is becoming a lad one, are succes sively abandoning their post to return to Constantinople. Their presence in this capital increases not a little the recriminations which are made in a.ll parte. The Mi nistry and the Allied Powers are accused, in order to justify Omer Pacha ; and the Ministry accuses Omer Pacha, in order to justify itself, and at the same time it does not refrain from accusing the Allied Powers. The reproach made against the latter is that they kept the Ottoman forces in the Crimea much too long. This accusation, however, is more specious than well founded. Omer Pacha lost more time than was necessary in his preparations for relieving Kars, and the Imperial Go vernment was able to send sufficient forces to Kara at the moment they were required. Omer Pacha, on his part, accuses the Ministry of not having sent him with sufficient rapidity the necessary provisi )ns and materiel. This accusation, however, is not well founded, for Col, Simmons himself has declared before the Ministers of Marine and War that the Government displayed all de sirable activity. As to the Western Powers, they join the Porte in accusing Omer Pacha for not baring fol lowed the plan decided on at Constantinople, and ac cording to which Trebizoni or Batoum was to be the starting-point and the base of operations. It will be in vain for Omer Pacha to allege that the want of sufficient roads in the direction of Batoum prevented him from going there ; this cannot justify him for having thrown himself into Imeritia, from which there is no issue.' FRANCE. PARIS, TUESDAY. To-morrow evening a very interesting ceremonywill take pl ace a t t h e B r i t i sh Embassy . His Excel lency Lord Cowley will distribute to a limited number of French naval and military officers the Order of the Bath, which her Majesty has thought proper to bestow upon them for their distinguished services in the field and on the sea. Sir Colin Campbell, Sir A. Woodford, and Colonel Clare mont, her Majesty's Military Commissioners in Paris, will be present on this occasion. The whole party, together with all the Knights of the Bath who may happen to be in Paris. are invited to dine afterwards at the Embassy. The following is the list of the French officers who will receive this honour : KNIGHTS GRAND CROSS. Pierre Joseph Francois Bosquet. General of Division Regnault de St. Jean d'Angely, General of Division. KNIGHTS COMMANDERS. E. C. de Mortimprey, General of Division. Adolphus Niel, General of Engineers. Joseph Dulac, General of Infantry. J. 13. C. Delesme, General of Infantry. Count Amirel (Navy). E. Mellinet, General of Division. OFFICERS. OF ARMY AND NAVY. COMPANIONS OF THE ORDER OF THE BATH. E. C. M. Espinasse, General of Division. R. Paris de la Bollardiere. J. J. Gaston Cler, General of Brigade. C. F. L. de Lorenez, General of Brigade. Castor de Charoperon, General of Brigade. Yelviu De Bdville, General of Brigade. A. C. F. J. Mainqoe, General of Brigade. A. C. V. Redle, Lieutenant-Colonel. J. E. M. Forgoot, General of Brigade. Luis Desuleau de Malroy, Lieutenant-Colonel. Noel Comignan, Cblone!. PakLes de Bomret,lone!. Felix Charles Douay. Co!onel. J. F. Gagneur, Lientenant•Colonel. 14. P. A. Pothriau, Captain of Navy. G. de Rochebouet, Colonel of Artillery. The Paris journals, having exhausted their views on the suleject of the Austrian ultimatum, are silent, whilst awaiting further accounts of the pro gress made in the negotiations. The Debats, how ever, offers some observations on the Eastern ques tion, which, if they are not characterised by much originality, have at least the merit of being well timed. We extract the following : " Europe has taken the engagement to ameliorate the political and social condition of Wallachia and Moldavia. This engagement will be fulfilled. If the Principali ties fall once more under Turkish domination, they will speedily become Russian in heart and spirit. There, as in all the East, it is by the political and social amelioration of the population that Russia must be re pulsed. The day when the East f ee l s t h at it escapes be coming Russian it will no longer attempt to become so. Look at Greece; she may have loved the Russians a enemies of the Turks—she will not have them for mas ters. Her independence separates her for ever from R uss i a . We must make the same remark for the Principalities. The day when they commence to have a better social position they will cease to io dine towards Russia. All that Europe can bestow upon them in prosperity and independence will se parate them the more from their ancient protectors. The characters of the stipulations of the peace of 185 C will be profoundly impartial and will proceed S 5 6 Cash. fl. e. End of Month, per Conte 94 25 —f. 3 per Cents 67 50 67 90 New Loan 68 25 RUSSIA. AUSTRIA. VIENNA, Jan. 19.—The Vienna diplomatists are still occupied in discussing the conditions of the armistice which is to be concluded, but nothing is likely to be definitively settled until the prelimi naries of peace, with the signature of the Russian 1 Government attached to them, have arrived from St. Petersburg. A Russian Cabinet messenger is expected to arrive from St. Petersburg on Wed nesday, the 22d. Prince Gortschakoff yesterday had an interview with Count Buol, but it is be lieved that he has not yet met Sir Hamilton Seymour and M. de Bourqueney in council. Genoral. Count Stackelberg will have an audience of the Emperor today. Prince Gortschakoff is said to be indisposed. The general impression here is, that Ru ss i a would not have yielded if her internal affairs had not been in a very precarious state, and the Militdr Zeitung thus insinuates that things are not exactly as they ought to be in the Russian army in the Crimea : " It is not clear what considerations induced the Rus sian Governmont to give such an unexpected and satis factory declaration. We are inclined to attribute the complaisance of Russia to the energy of our Govern went, and will, therefore, not attach too much impor tance to communications received from the Crimea, in which it is hinted that the spirit of the troops is such as to give cause for well-founded alarm. We must suppose that our correspondent has judged of the feeling of the whole army from the conduct of a small part of it, as we have the highest possible opinion of the discipline of the Russian troops." THE BALTIC. Letters from Copenhagen of the 14th inst. speak of three English steam corvettes having just lately arrived there from England, for the presumed purpose of capturing any Russian craft that might ho tempted by the mild weather and open naviga tion to steal home from the ports that have af forded them shelter during the recent blockade. One of these three steam corvettes left Copenhagen on the afternoon of the 14th inst., sailing south wards, that is to say, taking her course for the Baltic. One of these corvettes seems to have been the Driver, Captain Warren, who landed and re paired to the British mission. DENMARK. The Folkthiug (Second Chamber) of the Danish Diet elected on the 16th, in the room of Count Knuth de Kuuthenberg, deceased, M. Brunn, one of its members, and a judge of the Supreme Court, to the post of member of the High Court of Justice of the Kingdom, which is about to try the im peached ministers. M. Brunn, however, declared that he could not accept the honour done him, and a new election was ordered to be proceeded with the next day. But at the next sitting, when M. Brunn arrived, a letter signed by forty-one of his' colleagues, entreating him to accept his nomina tion was presented to him ; and, after some hesita tion, he yielded tc the wishes so expressed and withdrew his resignation. SPAIN. The Madrid journals of the 17th have arrived. In the Cortes on the 17th, M. Sandoval and other deputies brought forward a motion declaring that the explanations given on the previous day by the Azither from-English nnr French interests, but from the ' interests of Europe. It is thus that peace is so suitable 0 France. Everybody will admit that in the Eastern war France had no particular interest at stake but solely a European one. In peace she Las likewise only Euro pean interest, and therefore we may say, without na ional va.,ity, that the peace is entirely French. The French Government had wiih skill desired it so, and we doubt not will also defend it with firmness, and cause it to prevail in the negotiations. . Good for the pre lent and for the future, the peace will be the protection of the East against Russia, and the most solid guarantee of European equilibrium, which will be consolidated on our side etithQut injury to the other. But, in order that the peace of 1856 be proportionate to the hopes it engenders, it must be based on the alliance of England and France. This alliance has caused the success of the war, and can alone bestow efficiency on the peace. If this alliance be disturbed, then the peace of 1856 will have been but a skilful move of Russia to de stroy by peace that alliance which she could not destroy by war. But let this alliance remain as it is— sincere, then will the peace have reached the aim pro jected by war ; it will have defined to Russian ambition , ts limits, leaving to it its part in the civilisation of the East, without allowing that power to seize the lion's share ; denying to it Constantinople because that town can alone belong to an eastern population, and ought never to serve as an offensive fortress for any of the European powers." We willingly contrast this moderate language with that indulged in by some of our contemporaries, whose late remarks have admirably served the pur poses of Russia in weakening by their unautho rised suggestions the sincerity of the alliance. The M oniteur says :—" Regular depots of mus kets, intended for the supply of ship-owners who carry on a barter-trade with the western coast of Africa, are now established by the French govern ment at Nantes, Bordeaux, Havre, and Marseilles, where these fire-arms will be supplied at prices which will enable merchants to compete with the English and Belgian makers. Guns mounted in white wood will be charged to the dealers 10f. 50c.; red wood, 9f. ; and black wood, Of. Merchants receiving supplies have to specify the ship on board of which the articles are to be sent, and g ive an engagement that th e y are on l y t o b e used in the barter-trade." " The Countess of Neuilly," says the Gazette da Alidi, " has had a relapse. Her ordinary medical attendant, who was in Paris, was immediately sent for, but could not quit the capital in consequence of the illness of his father. Dr. d'Astross, of Mar seilles, was then summoned in his stead." BOURSE, Jan. 22, Two o'clock.-. The beginning of the market was very dull, and prices looking down, as the sales of Routes for immediate transfer were again numerous. But a rapid rally took place, as a telegraphic despatch from St. Petersburg an nounced that, on the 18th instant, the Czar had sent orders to General Gortschakoff to suspend hostilities. The Three per Cants, were done from 67f. 450. to 67f. 80c. The Mobilier from 1,405 f. to 1,430 f. Half-past Three.—Prices kept looking up to the close. The following are the last quotations : Bank Shares 3250 Roman Credit Mobilier 1430 Austrian Belgian Fives ...... .. Spanish Threes 3Bl Piedmontes , (5) B5 Homo Debt 36 RAILWAYS-108 CASE. fr. c. c OrigAnN Northern Lyons. Mediterranean l3OO Grand Central ...... 590 Lyons Geneva 7OO Teste • .. • -- Catto The Invalide Russe publishes the following ex xacts from Prince Gortschakoff's journalof military )perations from the 14th to the 20th of December, '26th of December, 1855, to the Ist of January, 1856) : " The state of things in the Crimean peninsula has not changed ; on the left flank of our position the chain of outposts on either side continually attack each other. On the 17th (29th) December, a party of French riflemen having stealthily crept down between the bush e s as f ar as t h e hill of the lighthouse, struck into the direction of Kourene, and opened fire against two of our companies. Some carbineers from the latter replied with suc cess to the enemy, and compelled them to retreat. " On the 18th (30th) of Dec., the allies having remarked that a reinforcement had been sent to Colonel Oklobjio's outposts in the pass leading to the valley of Baidar, beat to arms, and sent sharp shooters to the hill of the lighthouse ; the fusillade which ensued on this point lasted for half an hour. "On the 19th (31st) of Dec., a loud explosion was heard on the south side of Sebastopol, near the Malakhoff Tower, and two other explosions fol lowed in the dry docks. On our side we continued to throw shells against the camp pitched on the F6dukhine heights. The bursting of the projectiles against the huts and tents annoyed the enemy. " From Eupatoria, under date of the 19th (31st) of December, it is reported that 16 squadrons of French cavalry, with two pieces of horse artillery and a division of infantry, had left the town and taken the direction of the village of Saki, preceded by an aivauced guard of two squadrons. Major Dimitrieff, of the dragoons of his Imperial High ness the Grand Duke Michael Nicolaievitch, who commands this portion of our advanced posts, hav ing, apprized the advanced guard of the advance of the enemy in superior force, he commenced re treating on Saki and Tchebotar, pursued by the French, who threatened his right flank. " Major-General de Mitton, in command of the advanced guard, informed of this movement, placed his Cossacks in the plain between Lake Saki and Tchebotar, and sent two sotnias of the 55th Regi ment to the village of Touzla, in the re ar o f th e enemy's squadrons, which h a d detached themselves and had meantime been joined by two other squa drons; the enemy received by the fire of the Cossacks placed in the ravine, threatened with being turned by the detachment from the village of Touzfa, and seeing two regiments of dragoons and a battery of horse artillery appear on the Tchebotar heights, hastily rejoined the main body, near Saki, and half an hour afterwards returned to Eupatoria. During the pursuit of the retreating squadrons by the CossackF,, the French Captain Fouques, of the Staff, was made prisoner." Duke de la Victoria, respecting the recent minis' terial modification s were not sati s f ac t ory, an d not in accordanc e with parliamentary principles. The motion was then put to the vote, and rejected by 145 to 57. The following is the text of the Duke de la Victoria's speech in the sitting of the Cortes of the 16th : " Gentlemen —There has been a modification in the Cabinet, and I shall now have the honour of informing the Cortes of the motives of that step. A duty of deli• cacy and patriotism has placed six Ministers under the necessity of giving in•their resignation, that it 'night not be said they kept office, although their presence in the Cabinet might to a certain degree paralyse the Govern' went. The Queen has accepted the resignation of three; but has not judged it expedient to accept that of the others. This is the tree motive of the Ministerial in - dification, and I fulfil m y d uty in informing the Cortes of what has taken place. I shall repeat on thiS occasion what I have already bad the honour of declaring to the Cortes on other occasions, namely, that the intention of the Cabinet so long as it is presided over by me, is, 35 it has ever been, that of upholding liberty, developing the prosperity of the nation, causing the laws t o be re", spected, and repressing with a firm h an d th e excesses or those whose object it may be to infringe them." The receipts from the private electric telegraphic despatches between Spain and France during the eight months the lines have been opened have amounted to more than half a million reals. SUSPENSION OF HOSTILITIES BY RUSSIA. We believe that authentic intelligence has been received from St. Petersburc , that, on the 18th inst., the Emperor despatched au order to the Rus sian Generals in the Crimea to suspend hostilities. This important public step argues the sincerity of Russia's desire for peace —a desire which we hope may soon be gratified on complete and sufficient condition s . At t h e same time, it is only right to observe th a t th e acceptance by Russia of the AUF trian ulti ma t um d oes not justify us in yet suspend ing hostilities. We must, ourselves sign prelimi naries of peace before we can abstain from acts of war. It is also but fair to remark that, at the pre sent season of the year, an order to suspend hosti lities, where none can go forward, amounts to a mere formality. As such, however, it is indicative of the anxiety which no doubt exists at St. Peters burg to commit us to a pacific course. We cannot, however, forget that all that is now peaceful in the aspect of affairs is purely owing to our past successes and our present preparations, and that, if we would be sure of peace, our wisest and safest course is to continue our active exertions until we sign with Russia the preliminaries of a Treaty —a step which will, ipso facto, be succeeded by a cessation of hostilities.—iforning Post. THE NEGOTIATIONS. Her Royal Highness the Duuchese of Kent, attended by Lady Fanny Howard and Sir George Couper, ar rived iu town yesterday morning from Frogmore. Her Royal Highness paid a visit to the Duchess of Giouces ter, at Gloucester-house, and in the afternoon left Lon don on her return to Frogmore. Their Royal Highnesses the Duchess of Cambridge and the Princess Maly have arrived at their residence at St. James's Palace, irons Cambridge Cottage, Kew. The Duke of Cambridge visited the Duchess and Princess shortly after his return from Paris, yesterday. His Royal Highness the Count of Flanders arrived at Dover on Monday evening. After making a brief so journ at the Lord Warden Hotel, his Royal Highness, accompanied by Capt. Burnelle, and Mr. E. T. Latham. proceeded on board the Belgian royal mail packet Topaz, Commander Picard, which sailed at 8.45 p.m., for Ostend. The Marquis and Marchioness of Exeter have, during the past week, entertained Viscount Grey de Wilton, the Dowager Lady Clinton arid Hon. Misses Seymour, Lady Frederick Bentinck, Lady Anne Beckett, Hon. Capt. Egerton, Colonel and Mrs. Wood and Miss Low ther, Hon. W. E. Freke, Mr. Augustus Stafford, M.P., Lieutenant Mitchell, and a large circle at Burghley hoese. On Wednesday night the noble Marquis and Marchioness, accompanied by Lady Mary Cecil and Lords Edward and Henry Cecil, and the distinguished party staying at Burghley, attended the Dorcas ball. The Marchioness - (Do wager) of Ailesbury has removed from Tottenham Park to Saveroake Lodge, where her ladyship will remain about a fortnight and then come to town The Marquis and Marchioness of Ely purpose leav ing town for Paris at the close of the month. The Earl and Countess of Derby and Lady Emma Stanley are expected in St. James's-square on Monday, from Knowsley. Viscount and Viscountess Milton left Milton Park, near Peterborough, last week, to visit the extensive family estates in Ireland. The noble viscount comes to town the week after next for his Parliamentary duties. Viscount and Viscountess Guillarnore, we regret to learn, have sustained a severe domestic bereavement, by the death of their only son, the Hon. Standish O'Grady. Sir George Grey left town yesterday for Windsor Castle. The Great Western Royal Hotel is full of company. Jenny Lind (Madanie Goldsohmidt) has a suite of apart raents in the house. QUEEN'S HOTEL, UPPER NORWOOD.—The following have been recently staying at this establishment : —Cul. Smith and Mrs. Swab, Mr. Bosworth, Mr. Jamieson, Mr. Jervis, and Capt. Hoghton, The Countess 'Frances Waldegrave left Nuneham on Saturday last for Trentham, on a visit to the Duke and Duchess of Sutherland. Pier ladyship goes to-day to Lady Catherine Harcourt's, at Busted, Mr. Harcourt came to town from Oxfordshire on Saturday. The Countess of Airlie was safely delivered of a son and heir, at Florence, on Sunday last. We are glad to learn telegraphic accounts have been received by her ladyship's motbir, La ly Stanley of Alderley, which an nounce that Lady Airlie and the infant are going on favourably' The Earl of Ellesmere arrived in town yesterday morning, and in the afternoon left for Windsor Castle, on a visit to her Afajisty. The Earl of Eglinton is expected in town on Monday, from E4linton Castle. The Earl of Dunraven was to have left his seat, AAA's Manor, in Ireland, on Saturday last, for Wales, in order to be present at the nuptials of the Hon. Windham W. Quin and Miss Tyler, daughter of Admiral Sir George Tyler, M.P.,' ,w hi oh are appointed to take place this ' week. I The mortal remake of the late Countess (Dowager) of ' Erroll have reached town from Edinburgh, and are to be placed beside those of her husband at Wimbledon. THE FATAL EXPLOSION AT LEA BROOK.—The jury have returned a verdict of "Accidental death ;" express ing their opinion that the explosion was caused by the want of water in the boiler, occasioned by the neglect of the engineers. The jury thought men more competent to fill so responsible a position should be appoiuted to have the care of steam engines. THE QUESTION OF THE SITE OF SMITHFIELD STAR• KET.—Yesterday, in consequence of a requisition, I signed by five of the members of the Board of Works for the Westminster District, a meeting was held at the Board-room of the Workhouse, corner of York-street, " to receive and c )nsider a statement from Mr. Alex. Wright, member of the Metropolitan Board of Works, relative to a communication from the Government, re specting the appropriation of the site of Smithfield to a dead market." Mr. Wright having made a statement, and several gentlemen having addressed the assembly, it was resolved that the meeting declined at present in the absence of any information to express an opinion upon the subject of the appropriation of the site of Smithfield market. The acceptance of thei Austrian ultimatum, by Russia was only notified by telegraph last Thurs day, yet actually the newspapers and the public are galloping to a thousand-and-one conclusions which a moment's reflection would show to be premature. In the very first place, the Cabinet of Vienna will have to receive its official despatches from Count Esterhazy, communicating the particulars of the Russiau acceptance ; it will then have to address the Cabinets of Paris and London, informing them of what has occurred ; upon that, they will have to deliberate and come to a resolution. But as the despatches from Austria, above indi cated, can hardly be received for two or three days to come, it is evident that some moderate degree of patience must be exercised by the public, if they would avoid falling into error.—Morning Post. THE TALLOW TRADE. -- - RETIREMENT OP MR. MACAULA Y PROM PARLIAMBNT. T. B. MACAULAY. A lithographic portrait of whose name will ever be honourably associated with that last disastrous assault of the Redan, has recently been executed by J. 11. Lynch, and printed by M. and N. Ilanhart, for Messrs. H. T. Cook and Son, of Warwick, by whom it has been published. The gallant General, now Chief of the Staff, is represented in a sitting posture, contemplatii,g some object at a distance. Whether the portrait is a likeness or no we are unable to judge, not having seen the original. This much, however, we can say for it—it is admirably executed, and str iki ngly adumbrates the nobler qualities which have won General ‘Vindham fame and entitled him to the gratitude of his country. Chivalrous daring and well-tempered huma nity and discretion may be read in the lines of the por trait as in the career of the hero of the Redan. The portrait, so far as we can judge, is deserving of a large sale, and will doubtless be eagerly sought after by all the admirers of chivalrous gallantry and self-devotion whose means enable them to purchase it. THE CHEESEMONGEBS' BENEVOLENT INkrriTuTioN.-- A ball in aid of the fonds of this excellont institution took place last night at the London Tavern. Upwards of 300 persons were present in the spleadid ball-room, and the arrangements, which were under the superin tendence of Mr. Simpson, the respected secretary, were complete. The dancing was kept up till long after the "small hours" had commenced. This, like many other charities which honour this great metropolis of London, is not sufficiently known. It was established in the year 1835. The society have nov on their books 35 pensioners. To the males pensioas of 241. per an num each, and to the females 181. eaoh per annum, are paid. For these purposes the ch ar i ty expends, including sums for tempor, , ry relief, &c., nearly 7,000/. per annum. They have 10,0001, invested in the funds. Since its establishment the society have bad nearly 100 pension ers ; and among the recipients of their bounty have been one or two cases where the parties had once carried on business to the extent of 1,0001. a yeur as Dutch mer chants. We are informed that the trade is a very un certain one, inasmuch as change of weather will affect the prices and value of butter (among 'other articles) to an extent which persons who are unconnected with the trade would scarcely imagine. NOVEL AND IMPORTANT DECISION UNDER THE NEW BILLS OF EXCHANGE ACT.—At the Juda ea ' Ch am b ers a decision of considerable impo r t ance h as b een given under the new Act on Bills of Exch ange an d P romiFisory Notes. A plaintiff named Smith issued a writ in one of the ini peirior courts against a defendant named Evans on a promissory note for 131. tis and costs. The defendant's attorney took out a summons to stay the proceedings upon the payment of the debt without the costs, on the ground that the parties resided within the same County Court district. The application was oppose d, and it was urged that the new act authorised all acti one on bills and notes to be brought in the superior col irts irrespec tive of the amount. Mr. Justice Crowder was of opi nion that such was th e l aw, although he t: b ought with others of the judges that there had been an oversight or omission in the framing of the act. The plaintiff's at torney submitted that it was very miportau t that a de cision should be given on the point in refers ie to other cases. The learned judge decided that th a summons roust be dismissed, tbereby estitblisEing the principle tbat in all cases on bills of exchange and, promissory notes under the new law, the proc ee di ngs nt ay be by writ of summons in the superior courts. By the new rules, costs are allowed in all cases under the act.. We had the gratification, on Friday last Observe Messrs. Smith and Charles), of communicating to you the intelligence that in well informed commercial circle• peace was regarded as little less than certain. During the last three days that conviction seems rather to have increased than diminished ; at the same time it must not be forgotten that we have to deal with the most subtle of adversaries, and, therefo re , till everything fe finally settled, a b so lute reliance on the issue is out of the question. Enough of probability as to the result, however, exists to render it necessary for us to place be' fore you our views as to some of the principal change. to be looked for in our market from the altered circuu" stances in which it is thus suddenly and unexpectedlf placed. As a general rule the price for delivery in the third, fourth, or fifth month of the year, is as mach higher than the price for the first two months a s the article costs to hold ; and this may be pronounced to be the natural order of things, otherwise th ere would be ee motive for holding. But this order of things has, during the last few months, been reversed, and the price for delivery in April to June (for instance) has been V. to 51. per ton under that for January and March. It le impossible to avoid all reference to the speculation that has been entered into for January or March, and which has undoubtedly enhanced this difference. Having said thus much, we proceed to observe that a difference in favour of the early months of the year compared with the later was to be expected from the unnatural position of the export trade of Russia occasioned by the block' ade. When the season for forwarding tallow overland from St. Petersburg terminated, it was a matter of calculation how much could reach this country by the 31st of March. And, taking into account the stook in London and the probable consumption, it wee concluded, not unreasonably, that high prices must pre' vail during the first three months of this year. Hence that delivery became a favourite period for the specula' tor. It was calculated, moreover, that the tallow left over in Petersburg at the close of last season, and a cow' siderable quantity from the interior which under ordir nary circumstances would have been forwarded to St. Petersburg in the spring, and thence in July or August shipped from Cronstadt, to arrive here in September or December, could be despat c h e d overland directly the winter ro a d to the Prussian ports had been established, and that such tallow would find its way to this country between April and June. To some extent, no doubt, this business has been entered upon, and the tallow sef' ficiently far advanced on the road will be hurried for ward with all possible speed. But the rumour of peace will suspend all such operations preparatory to the re turn of the traffic to its ordinary channel by sea, should the rumour usher in the hoped-for reality. As to con' •umption, so long as the peseta uncertainty continues it will be curtailed as much as possible, and this ten dency will be increased in the ratio of the excess in the price of tallow on the spot compared with that for fututO delivery. Tbis paralysis of trade will not be confined to our business. Every trade has been more or less affected by the war. The claims on our Government fora speedy termination of the negotiations is, therefore, of the most urgent character, and we fervently hope that not one hour's unnecessary delay will be tolerated by the allied negotiators in dealing with the Russian diplomatists. With the return of peace a general and unprecedented activity in all trades, save those which have grown out of, and been fostered by, the war, may be confidently expected, and as the consumption of tallow has been re stricted for some weeks, and is likely to be still more so till the present uncertainty is over, a large and con tinuous demand may, we think, be looked for during the second half of the current year. The following farewell address by Mr. Macaula was published t o hi s constituents in Edinburgh yesterday (Tuesday) morning : " To THE ELECTORS OF EDINBURGH. " Gentlemen,—Very soon after you had done ma the high honour of choosing me, without any solicitation on my part to represent you in the present Parliament,. I began to entertain apprehensions that the state of my health would make it impossible for me to repay your kindness by efficient service. During some time I flat tered myself with the hope that I might be able to be present at important divisions, and occasionaay to take a part in important debates. But the experience of the last two years has convinced me that I cannot reason ably expect to be ever again capable of performing, even in an imperfect manner, those duties which the public has a right to expect from every member of the House of Commons. " You meanwhile have borne with me in a manner which entitles you to my warmest gratitude. Had even a small number of my constituents hinted to me a wish that I would vacate my seat, I should have thought it my duty to comply with that wish. But not from one single elector have I ever received a line of reproach or complaint. If I were disposed to abuse your generosity and delicacy, I might, perhaps, continue to bear the honourable•title of Member for Edinburgh till the disso lution of the Parliament ; but I feel that by trespassing longer on your indulgence I should prove myself un worthy of it. I have therefore determined to dissolve our connexion, and to put it in your power to choose a better servant than I hare been. "I have applied to the Chancellor of the Exchequer for the stewardship of the Chiltern Hundreds, and I have every reason to believe that the new writ will issue on the first day of the approaching session. This notice will, I trust, be long enough to enable you to make a thoroughly satisfactory choice. "And now, my friends, with sincere thanks for all your kindness, and with fervent wishes for the peace, honour, and prosperity of your noble city, I for the last time bid you farewell. " London, Jan. Ig." MAJOR-GENERAL WINDHAM. - - OUS ( Man fited Plop los er , state barle, lookii Act o authc exten comp; The Stock s 201 1 ; Pc Cents. a Per ( Certifi, )34 1T1f tauk St a Per t; a N ew; v "evr 3 p _" e v? 2i "'IV Ai intt 0 C onsole Etche RIO I'so Rua Ditto Dutch r ektiv Ditto lai Ley rt ur ItAu! t ut NEIN PORT sAithre ‘ 4 leutt W ord. PLYI 1, 11 )111 St mr. 31( ..401iot %tile ( 1 411 d Cli 0 4, Je: Witii ' Sail° Caledoi Will, B ail e , 4 0rd rr i344:40`; Wiu( 43.a c i rtui ~Iterrool I Cll9 the and a sa vice sand 1854 Al of 3( from furti weell now Cri ti' fo] po im