The Sun. — London, England, 1854-03-03 00:00:00

LONDON, FRIDAY. MARCH 3, 1854. NAPOLEON 111. has spoken once more in refe rence to that oriental difficulty which has been gradually developing from a diplomatic misunder standing to a warlike contest of European magni tude. NAPOLEON 111. has spoken, however, this time, not through another autographic letter to the CZAR, but through oue of those carefully pre pared and masterly orations which he is in the I habit of addressing annually, at the commencement of each Parliamentary session, to the members of his Imperial Legislature. His language at this crisis—like his conduct--•is eminently worthy of himself and of the occasion. It is the expression of sentiments not unworthy of the age or of the country, of France or of Christendom. The EMPEROR refers in his Speech to the Senators and Deputies, as was only reasonable, and as might have been confidently anticipated—. to the internal condition of his empire, and after wards to its external relations. He alludes first of all to the scarcity which had so seriously affected the welfare of the population, and, in so doing, evidences throughout his sympathy with the sufferings of the multitude, and his sense of the responsibilities thereby devolving upon his Government. Speaking upon this important sub ject, he says—" It is a remarkable fact, which has touched me profoundly. During this rigorous winter not one accusation has been directed against the Government, and the people have borne with resignation a calamity which they have been sufficiently just to impute exclu sively to circumstances. A new proof," adds NAPOLEON with comprehensible emotions of pride and exultation—" A new proof that the nation has confidence in me, and that it cherishes the conviction that its welfare is above all the object of my constant solicitude." Already in that Speech his Imperial MAJESTY has announced to the community that the most difficult period of this crisis of scarcity has passed by—referring in testimony of this assertion to the en couraging fact, that no less than 7,000,000 hectolitres of foreign grain have already been distributed for consumption, over and above the quantity now on the road for further distri bution, or stored up in the national granaries. " Scarcely, however, is the anxiety about famine over," he adds, " when war commences." Here it is that we arrive at the most important portion of this noble oration to the French Imperial Legislature. NaroixoN 111. recalls to the remembrance of the nation his promise of last year, to the effect that he would direct all his efforts to maintain Peace and to tranquillis e Europe. H e m i g ht have revived a yet earlier assurance of a similar bads to the popular recollection. He might have re minded France, and through France the rest of the world, of his memorable avowal at B or d eaux . 'His i rempi:e, cst t declaration that the Empire meant pea ce _ a pais." He does not. It would have been su perfl uous. The words cannot be so readily forgotten. He contents himself with referring to already h pa his pro mise rt. of last year—the prom i se cularised. And he adds, with what truth we i all know—France, Eng land, Europe-- " I have kept my word— j'ai tenu parole." A dding s t r uggle I have gone as far as honour ,h" To avoid a that permitted. Europe can vouch , " ho adds, , at if France beem draws the sword i t is only she has been compelled." Ever', syllable in the subsequent portion of the speeel ," im portant. NAPOLEON Says—" Europ e is knows tha t France has no idea of a gg randis ement. She . only anxious to resist dan g erous e ncroachment ' : Moreover [mark this !J I rejoice to assert here positively, that the time for conquest has gone by for ever—L'Euxope sait qua la France n'aucune idea d'agrandissement. Elle vent uniquement resister h des empietements dangereux ; aussi, j'aime h le proclainer hautement, le temps des coquetes est passe sans retour." Language as manly and outspoken as that before alluded to, as employed upon an occasion of wonderful import at Bordeaux. _ _ NAZOLZON lIL speaks thus, further ou, of the alliance between France and Great Britain : " Behold," says he, " the results of a policy without egotism and without after-thought"— without sinister designs, and without selfishness. " Behold England, that ancient rival, who now with us knits together the bonds of an alliance which from day to day becomes only more and more intimate"—why ?—" because the ideas we defend are at the same time those of the British people." Later on, the EXPER,OR explains one by one the nature of these ideas, the motives implied by that cordial alliance leading to active co-operation, the objects, in fact, of the war against Russia about to be entered upon by the united French and Eng lish Governments. His Imperial MAJESTY ex plains all this in answer to the supposed inquiry, " What are you going to do at Constantinople ?" Listen ! "We are going there," says NAPOLEON " with England, to defend the cause of the SULTAN, and yet at the same time to protect the rights of the Christians. 'W l e are going there to de fend the liberty of the seas and our just influence in the Mediterranean. We are going there with Ger many to aid it in conserving that rank from which they would fain cause it to descend, and to secure its frontiers henceforth against the preponderance of a too powerful neighbour. We are going there, in fine," says the Emperor NAPOLEON, " together with all those who really desire the triumph right, of justice, and of civilisation." Behold— those are the reasons for this war in behalf of Turkey, this conflict with Russia, the despatch of these military and maritime armaments from France and England to Constantinople. NAPOLEON 111. counts, therefore, under these solemn circumstances, upon the support of the French nation as expressed through the Imperial Legislature, adding, in his address to the Depu ties and Senators, that he has always found in them the generous sentiments animating the popu lation. Wherefore, his MAJESTY adds in the closing sentence—" Strong in this support, in the nobility of our cause, in the sincerity of our alliances, and confiding, above all, in the protection of GOD, I hope to arrive speedily at a peace which will no longer admit of being disturbed by any one with impunity." It is quite obvious on the surface of things that this secure peace can never he established—so long as Russia is permitted to remain in her present position of advantage —in her present position, we may say, of geographical predominance. The Emperor NAPOLEON has defined that position with admirable clearness in this very Oration, where he has said that Russia, by successive encroachments embraces the north and the south, possessing almost exclusively two inner seas, by means of which, at any time, and with the utmost facility, her armies and her fleets may be directed against our common civilisation. Happily, however, everything now tends to indicate that France and England are alive, at last, to the peril of this situation to Europe. The recognition of the evil has been avowed by Ministers in the British Parliament. It has been proclaimed by NAPOLEON 111. in his Speech to the French Imperial Legislature. The war once commenced—Russia cannot escape from it until the Black Sea is no longer closed against the commerce of the world until the mouths of the Danube are opened to the mercantile enterprise of both hemispheres until such stolen territories for example as the Crimea have been restored to Turkey, until the moral barriers raised by the blunderings of diplo macy have been removed from the straits both of the Bosphorus and the Dardanelles. On Monday next the Chancellor of the Exche quer will unfold his Budget in the House of Commons. This unusual alacrity is very credit able to the Right Hon. Gentleman. It is right that the country may be informed at the earliest possible moment of the mode in which the addi tional war expenditure, already estimated at 3,000,0001. sterling, with the probability, nay, more, the absolute certainty, of very considerable supplementary demands for the expenses of the Naval and Military expeditions, which we are sending forth in the cause of justice and order to prevent an ally from being plundered, to repel unwarrantable aggression, and, at the same time, to punish the author of all these disturbances. It is true, that these demands may be but for mere temporary advances—that the National Exchequer may be recouped the entire outlay— that every shilling may be paid back. Such will, unquestionably, be the case if Ministers are true to themselves, and exhibit a due regard for the honour and interests of their Royal Mistress, and the country over which she so worthily reigns. But even assuming that it will, as it ought to be so, that will only afford matter for future relief. Present provision must be made, and that will fall as heavily on the tax-paying community as if the money were irretrievably lost, without the most remote prospect of repayment. Mr. GLAD STONE will thus have an opportunity of showing the stuff that is in him," of exhibiting his real capacity for the important and arduous situation in which he is placed. He must recollect that we are living in strange, eventful times, and that, of all the Ministers of the Crown, the head of the financial department is the man on whom hangs the weightiest responsibility when the country is involved in hostilities with a powerful foe. He it is that must provide the " sinews of war " that must supply the means of setting fleets and armies in motion, of finding bounties and pay, and rations for seamen and soldiers, and at the same time maintain the National Credit unim paired, and keep " the lifQalood of industry," a circulating medium, adequate to the wants and exigencies of the country within easy reach of every solvent merchant, and manufacturer, and trader. These are duties of no ordinary magnitude. Mr. GLADSTONE must anticipate the coming of the already threatening storm at an early opportunity, and his future reputation will mainly depend on the manner in which he acquits himself during the emergency. We have already pointed out a mode by which he might, while rendering a much-required act of justice to the banking and commercial community, derive a very considerable assistance towards pro viding for the additional outlay that must take place. Mr. Peez was the CEurrus who discovered the solution of the perplexing riddle, the finding a just and popular tax, that will, at the same time, be very productive to the revenue and acceptable to the parties on whom it is charged. We refer the Chancellor of the Exchequer to the admi rable suggestion contained in the pamphlet to which we have already directed public attention, and from which he may gather some useful hints. We have also indicated a very decided improve ment in the succession duties, by making real estate and settled peraonalty liable to the probate as well as to the legacy duties—a matter which is merely a question of time, and which must sooner or later be brought into practical operation. In deed, the proposition of Lord CRANWORTII for making probate affect the real as well as the per sonal estate of a testator, proves that such an ex tension is under the consideration of, or already decided on, by Ministers ; and existing circum stances imperatively demand that the carrying the ree-dution into practical operation should be materially accelerated. But it is not merely fiscal matters that fall within the department of the Right Honour able Gentleman. He must also deal with the currency question, by far the most important and pressing at the present moment. There can he no doubt that, at this moment, the prec'ous metals are being exported from this country in large quantities, and that a considerable portion of the stream of bullion now flowing to the Con tinerit is for the use of the CZAR, and also that the money thus drawn from our coffers will encou rage him to persist in his perverse and obstinate refusal .o abandon his unjustifiable demands, and materially increase the expense, the difficulty, and the bloodshed that must take place. We are at this moment literally "burning the candle at both ends," providing not merely for the support of our own troops, but in a great degree for those of the enemy. Nienow can no longer draw directly on the Bank o f E ngland. Hi s account i s closed, and his dr aug h ts no longer potent in Threadneedle.. street. But what he cannot do directly, he may still effect in and by circuitous memo. THEATRE ROYAL DRURY LANE. Lessee, Mr. E. T. Smith. THIS EVENIND, Mdsca 3, Will be performed TFIE VEN'DETTA ; or, The Corsican Br •- thers. The principal characters by Me:ars. U V. Brooke and T. Mead. To be followed by TFIE BEGGAR'S OPERA. Characters by Mr. A. Yonuge, Mrs. Selby, Miss M. Stanley, and Miss Feather. stone. THEATRE ROYAL. HAYMARKET. Under the management of Mr. Itacketone. THIS EVENING, MAiica 3, Will be performed a new comic drama, cilled RANELACtIa. Characters by Messrs. Van lenhoff, W. Farren, and Backatone ; Miss Reynolds, Mrs. Fltzvrilltam, &c. To be followed by A PRETTY PIECE OF BUSINESS. After which, the Grand CIIRI3 rmAg PANTOMIME, called HARLEQUIN' AND THE THREE BEARS; or, Little Silverhair and the Fairies. Columbine, Miss M Brown ; Hiriequin, Mr. J. Marshall; Pantaloon, Mr. W. A. Barnes; Clown, Mr. H. Marshall. ROYAL PRINCESS'S THEATRE, OXFORD-STREET. Under the Management of Mr. CHABLIS STAN. THIS EVENING, Ma'am' 3, Will be performed RICHARD THE THIRD. Principal eharac ter by Mr. C. Kean. After which will be presented the new Grand CHRISTMAS PAN TOMIME. entitled HARLEQUIN AND THE :KILLER AND HIS MEN; or, King' Sslainandar and the Fairy of the Azure Lake. Harlequin, Mr. Cormact ; Clown, Mr. Hullne; Pantaloon, Mr. Paulo; and Columb ne, Miss Desborongh. LYCEUM THEATRE. Under the Management of Madame Vestris. TUIS EVENING. Ma.sca 4, Will be performed A BAC Ill.:LOB OF ACTS. Characters by Messrs. C. Mathews, F. Matthews, and Baker; Miss F. Hughes. After which, the origina'• Fairy Extrava.ranza, calle•' ONCE UPON A TIME THERE WERE TWO KING-1. characters by Messrs. Roxby, F. Matthews, and Bland; 'kdadame Veerla, Misses St. George, Eglanton, Ddason, Martindale, E lls. Wadham, and Foote. To conclude with PATTER VERSUS CLATTER. Principal character by Mr. Charles Mathews. TaNxTRE: ROYAL ADELPiIf. Proprietor, Mr. B. Web.ter.—Directress, 31adarne Celeste, THIS EVENING, 11Aaca 3, Will be presented the highly Popular New Nautical Melodrama in El v a tanleaux, with new scenery, th e S et of Ic . , &c., new dresses ant appointments, cilia t TIE T int,r OF GOLD; THE LOST SHIP AND TIE WILD FLOWb:II OF NIKRICO. Principal charters by Mews. B. Webster, Keeley, Paul Bedford, Madame Celeste, &c. To conclude with Tag SERICILT4 FAMILY. Characters by Messrs- B. Webster, Leigh Murray. ?arselle, and Keeley ; , rs Murray, 3Lsaes Wootgar, Fanny )(Luke% and Laidlaw, and Mrs. Keeley. ROYAL OLYMPIC TEIEkTRE. Lessee and Man: vier. Mr. A. W gan. THIS EVENING MARCH 3, Will be performed PLOT AND P 4-110 N Prineinst chsrsets-s b➢ Messrs. A.. Arl.zan, F. itnhaon, Erne.ry, Leslie, Whit; Franks, and 11. Ccoper; ktiss E. Turner, ani M-s. Stirling After which, BEN'GtI. 114Elt. Principal chiracters hv Meqsrs. Alfred Wigan, and F. Rabson; and Ars. Wigan and Ills+ Marston. To concluric with TIlq; LOTTERY TI 'KET. Characters by Messrs. Emery, and F. Robson; Mrs. Cha,terley, and Miss Ellea Turner. STRAND THEATRE, Sole Lessee, air. F. W. 11ler ift.—Directress, Miss Rebecca Isaacs THIS EVENING, NlAntu 3, Will be presented "NO IRISH NEED APPLY." Principal characters by Messrs. (1. Hodson, Warren, and Herbert; Misses H. Noel and Hammond. After which, MIDAS. Apol , o, Miss G. Hodson. To be followed by THE TWO G tEGOItII:S. To com•lude with THP, Erlitl{o , 113, )TIIERS. Paddy and Tim Mulligan (the Brothers), Mr. G. liod•on. Stalls, 5...; Rotes , :3.; Pit, 1.. %lit; Gallery, al,; Private Boxes, 11. ills. 6 i., , o ba la 1 of Afr. Allcroft, 15, New 131nd-street. ASTLETS EUROPE'S NATIOAAL AMPIIITIIESCHE Lessee and Manager, Mr. Vrilthm Cooke. Triumphant success of the New Spectac:e. LAST TWO NIGHTS of the PANTOMIME. THIS EVENING, MARCH 2, And during the week, will he presented tho new, grand, and romantic spectacle ent,tlert THE ••vOOD \Lk N'S HORSE; or, The False Knight—the Wocklinln's iio-se by the pet steed, Beauty, expressly trained by Mr. William Cooke. After which, Scenes of the ARENA. To conclude with the Comic Pantomime o' BILLY BUTTON'S JOURNEY TO BRENTFORD ; or, Harlequin and the Ladies' Favourite. Box-office open from Eleven till Four. Stage Manager, Mr. W. West. HIGH WATER AT LONDON BRIDGE. T us+ DAY —Morning 40 min.after 4 I Evening 55 min.aft. 4 To-Ito/mow—Morning 12 tniu.after 5 Evenirw 29 min.aft. 5 THE WEATHER.-SUN OFFICR, MARC'S 3. THER3IONETEB, TN THE SHADE. 53 —highest since noon yesterday. 36 —lowest this morning and during the night. 50—this day at noon. BAROMETER, 30•68. WIND, S.E.--Light breeze, and fine weather. c§un Prr-c ct ,A ) ; • _ THE SUN, LONDON, FRIDAY EVENING, MARCH 3,. 1854. There are foreign bankers who will provide for his wants, so long as they can obtain English gold and silver to enable them to do so, on terms profitable to themselves. It is just as necessary to prevent the exportation of bullion, unless we know and approve of the objects for which it is required, as of gunpowder, fire arms, machinery, or the various articles comprised under the terms " contraband articles of war." Indeed, it is even more indispensable to do so under existing circumstances ; for so long as he can find the means for providing the munitions of war, these munitions will be supplied by men who wor ship MAMMON, thinking that large profits sanctify any conduct, and that they are not responsible as to whom the articles in which they trade may be supplied. If the war be at all protracted, and with such an adversary, we can scarcely anticipate an imme diate, or even a very speedy settlement. We can not avoid a bank restriction act. We must render all our bullion available for warlike purposes, and discover an adequate substitute for our domestic wants. This substitute can only be a national note secured on all the property, aye, and all the industry of the country, for the liquidation where of all the mighty resources of this great Empire are rendered liable. We have already repeatedly shown that the visits of the tax-gatherer to our doors are not "so few or so far between" that anything which satisfies his demand can be regarded as valueless. And so long as the issue is based upon the amount payable by the people to the Exchequer, it cannot be depreciated or issued in excess. The circulation must depend upon the requirements of the trading community, and that will speedily be ascertained. At pre sent an immense amount of bullion is required for the daily transactions of life, simply because we foolishly refuse to sanction the issue of small notes. The putting a sufficient number of 11. notes into circulation would liberate and render available for foreign trade from 30,000,0001. to 40,000,0001. sterling, now required for pur poses which are just as well, if nut better, satis fied by 11. notes in Scotland and Ireland, and which there can be no valid reason against the adoption of in this country. The only choice, in fact, lies between a Bank of England and a na tional small note currency, and for many reasons we prefer the latter. 1f the national credit should be impaired, that of the "Old Lady of Threadneedle-street" must also fail. It is indeed difficult to conceive why the credit which is merely based on the pos session of a certain amount of Government Stock should be better than that of the Government itself, or why the nation should transfer to a trading corporation the lucrative privilege of making and issuing money, thus giving enormous profits, that of right belong to the over-burdened taxpayers, to individuals who have already enriched themselves at the expense of the people. Let Mr. GLADSTONE direct his attention to this all-important subject. Let him show that he is adequate to the crisis, and he will obtain an enduring reputation, more distinguished and honourable than ever fell to the lot of an English Minister. His future fame and character depend on the propositions of Monday next. MONEY MARKET AND COMMERCIAL INTELLIGENCE. CITY, TWO O'CLOCK. The tales of cotton at Liverpool yesterday were estimated at from 4,000 to 5,000 bales, all to the trade. The market closed heavily, with prices of Americas, compared with Friday's rates, kd. per lb. lower. The sales comprised 250 Egyptian at Gd. to 81., 300 Surat at 3id. to 4d., 120 Sea Island at 10d. to is. 5d., and the remainder nearly all Ame rican. Railway Shares were dull. Colonial produce has been taken to rather a limited extent this week, but prices have been steady. Sugar tended upwards, and there was an improind inquiry for plantation Ceylon coffee. Tea has been quiet but firm, cocoa dull, and tallow and rice have been cheaper. Cochineal has de clined ld. to 2d. per lb. Cocoa nut oil has been active, palm in limited demand, olive steady, and also linseed. Full rates have been realised for spices. Rum is lower, cotton quiet, hemp dearer, iron dell, and saltpetre at previous values. The following is the law which the Legislature of the republic of Ecuador has drawn up, and which received the sanction of the Executive on the 26th of November last, opening the rivers which traverse that State and fall into the Amazon to the free trade of all nations : " The Senate and House of Representatives of Ecuador in Congress assembled— " Whereas, it is a necessary measure to open to foreign trade the Amazon and all the Ectuttoriat rivers which flow into it; and whereas, in order to attract navigation and commerce, we should hold out some privileges and stimu lants to immigrants intending to trade on the said rivers : therefore we decree, "Ist. That the rivers Chinchipe, Santiago, Morons., Pas tasa, Tigre, Cararay, Naucuna, Napo, Putumayo, and other streams flowing into the Amazon, are declared of free na vigation, including that part of the last-named river which belongs to Ecuador. " 2d, Vessels navigating the said rivers, to whatever nation they belong, will be free during 20 years from pay ing any kind of tax, and goods imported during the same time will also be admittedi duty free. " 3d. The ,üblic authorities of Napo, or of any other canton established now or which may be established here after, are authorised to concede 30 cuadratt of land to foreign or Ecuatorian families, on condition that this land be cultivated for the term of five years from the date thereof, under the penalty of forfeiting the same if this condition is not accomplished. A larger extent of land may be obtained on the recipient giving a bond for pay ment, twelve and a half years after if a foreigner, and twenty five years after if an Ecuatorian, &c. `• 4th. The present inhabitants of Napo, and along the other Ecuatorian rivers which flow into the Amazon. will have the same privileges as those hereinbefore mentioned —the preference in the selection of the land being given to them, as well as a perfect and inalienable right in the possession of the land which they now occupy. " Given in Quito, Capital of the Republic, the 26th of November, 1853." _ . The number of ships on the berth for Australia, according to the list compiled by Mr. Miller of the Jerusalem Coffee-house, is a fair average, though by no means equal to many periods last year. Government are still freely taking up ships for the transport of stores and troops. Three have been engaged at Liverpool. The English Funds have been weaker, and with more disposition to sell. The appearance of the text of the answer given by the Emperor Nicholas to Louis Napoleon has served to damp the market. Consols have been 91i to for transfer, and 91i to for account. The New 3i. per Cents. have been up to 93k, and since are as low as 921. Bank Stock has been firm at 218, and India Stock at 240. Exchequer Bills have been at 18s. to 20s. prem. Consols are now 91i to f. Foreign Stocks have been agitated again, and the supply of them is in excess of the demand. Mexican Bonds have realised 24k to and Peru vian 63. Spanish 3 per Cents. have been 38 to f, and the Deferred 171. Portuguese Four per Cents. have realised 35 to j. Danish Bonds are 97 for the Five per Cents. Dutch Two-and-a- Half per Cents. have been 56i. Russian Five per Cents. have been at 89, and since at 87i. The current prices for the Jamaica Mines, not officially quoted, are as follows :—Metcalfe, par to I t . prem. ; Sue River, discount to par ; Port Royal, to prem. The Railway Share market is about fto per cent. worse in most cases, and with less doing. This applies to the English as well as the French lines. There is but little passing in the Mining and Banking shares. Crystal Palace shares are flatter. Australasian Pacific Mail have been done at 3t discount. BRITISH FUNDS THIS DAY.—CLOSING PRICES. (Prom the Official Vat. j _ _ _ . _ IRnatness dons Bank Stock I per Cent. Reduced Annuities -iiiii li g i 3 per Cent. Consols Annuities 9li i 1 New 3; per Cent. Annuities 93 2; 3; 2 g Long Annuities, Expire sth Jan., 1860 ... 5; 5-16 India Stock India Bonds, 1:1009 ...., — Ditto ' under £lOOO l2 p Conaols for Account 16th; March Exchequer Bills, Id. £1000 p 2500 2O Small 2O PRICE OF FOREIGN FUNDS THIS DAY. Brazilian Bonds, s.per Cent. — Ditto New, 1852, 4.A per Cent 9l Chaim) Bons, 6 per Cent. Danish Bonds, 1825, 3 per Cent — Ditto 5 per Cent Mexican 3 per Cent. Peruvian Bonds, 44 per Cent. 63 x d Portuguese Bonds, 4 per Cent 35 i Ditto Ex all over-due Coupons 3l Russian Bonds, 5 per Cent BB 9 7i 8 44 5i 5 6 x d DM.) 44 per Cent BO 791 980 Sardinian Bonds, 5 per Cent... .... Spanish Bonds, 3 per Cent 3B Ditto for the Account 3S. 71 Spanish New Deferred, 3 per Cent. l7 Dividends on the above payable in London. Belgian Bonds 46 per Cent. ex. 2.5 fr Dutch Exchange, 26 per Cent. 12 Guil Ditto 4 per Cent. Certificates .. THREE O'CLOCK. Consols 9li j Ditto March Account 9lk i COURT OF BANKRUPTCY.-THIS DAY. OPENING OF THE FRENCH CHAMBERS. THE EMPEROR'S SPEECH. The great event of yesterday in Paris was the opening of the Legislative Session by the Emperor in person. The ceremony took place in the Salle des Ma.r4chaux, in the palace of the Tuileries, at two o'clock. The senators and members of the Legislative Corps were all in grande tenue. The Emperor was accompanied by the Empress, and, having taken his seat on the throne, delivered the following Message : " Messieurs les S6nateurs, Messieurs les D4putds : " Since your last session, two questions, you are aware, have occupied the attention of the country—the insuf ficiency of the last hai vest, and the external difficulties. But these questions, I hasten to declare, already inspire infinitely less apprehension, because, notwithstanding their gravity, their extent may be measured and limited. " The insufficiency of the harvest was estimated at about 10 millions of hectolitres of wheat, representing a value of nearly 300 millions of francs, and the lading of 4,000 vessels. Could the Government undertake the purchase of these 10 millions of hectolitres on every point of the globe, in order to sell them afterwards in all the markets of France ? Experience and prudence affirmed clearly enough that such a measure would have been encompassed with embarrassments of an insurmount able character, and with inconveniences and dangers without number. Private enterprise alone possessed the financial and material means of effecting so great an operation. The Government consequently adopted the only course that was practicable; it encouraged freedom of transactions, by delivering the corn trade from every impediment. The elevated price of an article so necessary to the general alimentation of the country is without doubt a calamity ; but it was neither possible nor desir able to evade it as long as the deficiency was not provided for ; for if the price of wheat had been lower in France than in the circumadjacent countries, the foreign mar kets would have been supplied at the expense of ours. " That state of things was nevertheless certain to pro duce a situation of difficulty, which could only be com bated by activity of employment, or by private charity. The Government therefore applied itself, from the com mencement of the year, to opening credits which, ex ceeding by a few millions only the resources of the budget, will, with the co-operation of the communes and of the various companies, insure the execution of a mass of public works, estimated at nearly four mil lions of francs, without reckoning two millions appro priated by the Minister of the Interior to charitable establishments. " I recommend above all to your attention the system now adopted by the city of Paris ; for if it extend-i, as I trust it will, to the whole of France, it will for the future prevent in the price of corn those extreme variations which, in times of abundance, cause agriculture to lan guish in consequence of the low price of wheat ; and, in years of scarcity, force the poorer classes to suffer so greatly from its exce-sive dearness. "That system consists in establishing in all the great centres of population an institution of credit, under the name of Caisse de Boulangerie, which can give, during the months of a year of dearth, bread at a price infinitely inferior to the official quotation, on con dition of paying a little dearer for it in years of fertility. These latter being in general more numerous, it is easy to conceive that the compensation between the two can be effected with facility. lii addition, this immense ad vantage is gained of founding societies of credit, which, in lieu of gaining so much the more when bread is dear, are interested, like every one else, in its becoming cheap ; for, contrary to what has existed up to the present time, they make their profits in seasons of fertility, and lose money in seasons of scarcity. " I am happy now to announce to you that seven mil lions of hectolitres of foreign wheat have been already delivered for public consumption, independently of the quantities now on their way, and in store ; and that consequently the most difficult moments of the crisis are past. " There is one circumstance which has made a pro found impression on me—and that is, that during all this severe winter not an accusation has been directed against the Government, and that the people have sub mitted with resignation to sufferings which they were just enough to impute to circumstances alone—a new proof of their confidence in me, and of their conviction that their well-being is, before everything, the object of my constant pre-occupations. But hardly has the scar city approached its termination when war commences. " Last year, in my speech on the opening of the session, I promised to make every effort to main tain peace, and reassure Europe (et rassuer l'Eu rope). I have kept my word. To avoid a struggle I went as far as honour permitted me. Europe knows now iu a manner beyond doubt that if France draws the sword it is because she has been forced to do so. It knows that France entertains no ideas of aggran disement. She only wishes to resist dangerous encroach ments (empietements dangereux). Therefore lam proud to proclaim openly that the time of conquests is past irrevocably ; for it is not by extending its territorial limits that a nation can henceforth be honoured and powerful—it is by placing itself at the head of generous ideas, by making everywhere prevail the empire of Right and of justice. Behold, as an ex ample, the results of a policy without egotism and with out arrierepensee! Behold England, that ancient rival, who will tighten the bonds of an alliance with us which will become daily more intimate, because the ideas which we defend are at the same time those of the English people ! Germany, which the remembrance of ancient wars still rendered distrustful, and which for that reason gave for forty years perhaps too many proofs of deference to the Cabinet of St. Petersburg, has already recovered the independence of its movements, and freely considers upon which side are its interests. " Austria, especially, which cannot look with indiffe rence upon the events that are in preparation, enters into our alliance, and will thus confirm the character of mo rality and justice of the war which we undertake Otte nous entreprenons.) " The state of the question is precisely this :—Europe, occupied with internal struggles since forty years, reas sured, moreover, by the moderation of the Emperor Alexander, in 1815, as by that of his successor, down to the present day, appeared not to be aware of the danger that might menace it on the part of the colossal Power which, by its successive invasions, embraces the north and the centre, which almost exclusively possesses two inland seas, from which it is easy for its armies and its fleets to throw themselves upon our civilisation. An ill-founded claim (prebention) at Constantinople sufficed to arouse slumbering Europe. " We have, in fact, beheld in the East, in the midst of profound peace, a sovereign exact suddenly, from his weaker neighbour, new advantages, and, because he did not obtain them, invade two of his provinces. " This fact alone would place arms in the hands of those whom iniquity revolts ; but we have other reasons to support Turkey. France has as much, and perhaps more, interest at stake than England to prevent the extension of the influence of Russia indefinitely over Constantinople, for to reign at Constantinople is to com mand the 1111diterranean, and not one of you, gentle. men, I think, will say that England alone has interests in that sea which washes three hundred leagues of our shores. Moreover, this policy does not date from yes terday. For centuries every national Government in France has maintained it. I shall not abandon it. Let men then no more say, ' What are you going to do at Constantinople ?' We are going there with England to defend the cause of the Sultan, and, nevertheless, to protect the rights of the Christians. We go there to protect the freedom of the seas and our just influence in the Mediterranean. We go there with Germany to assist it in maintaining the rank of which it seemed an attempt was made to deprive it—to make sure its frontiers against the invasions of a too-powerful neighbour. We go there, finally, with all those who desire the triumph of right, of justice, and of civilisa tion. --- " In this solemn circumstance, gentlemen, as in all those in which I am obliged to make an appeal to the country, I am sure of your support, for I have always found in you the generous sentiments which animate the nation. "Therefore, strong in that support, in the nobility of the cause, in the sincerity of our allies, and confiding especially in the protection of God, I hope shortly to attain a peace which it will not be in the power of any one to trouble with impunity." During the delivery of this speech the Emperor was more than once interrupted by applause, which was particularly drawn forth by the allusion to the intimate alliance with England, and in which the Empress was observed to join heartily. The cries of "Bravo! Vive l'Empereur 1" were renewed at its close. At the conclusion, the Grand Master of the Ceremo nies having taken the Emperor's orders, informed the Minister of State. That Minister then proceeded to administer the oath to those members of the Senate and the Legislative body who had inot yet complied with that formality, and each of them, called separately, raised their right hand, after the form of the oath was read, and replied, "I swear." After the oath had been taken the Minister of State declared that the session of 1554 wi - .8 opened, and he invited the Senate au d. the Lvgislative body, on the fullowb:g day, in their respective chambers, to commence their labours. The Emperor and Empress then withdrew, with their cortege, in the same order as they entered. A second salute of 101 guns announced the conclusion of the ceremony. Among the members newly-elected, who took the oaths of allegiance, were M. Latour Dumoulin, late Director-General of the library attached to the Ministry of Police, and M. Auguste Chevalier, formerly Secretary of the Presidency. About 4 o'clock the Emperor and Empress drove along the Boulevards and back again, attended by a de tachment of Guides. It is stated that Marshal St. Arnaud decidedly goes to command the expeditionary army to Turkey, and that Marshal Valliant succeeds him as Minister of War, re taining, however, his post as Grand Marshal of the Palace. Prince Napoleon leaves Paris on the 15th, with Gene rals Canrobert and Bosquet, for Constantinople. The Atlantic, squadron anchored in the roads of Tou lon on the night of the 28th ult. The 120 gun ship Louis XIV. was launched at Roche fort on the same day. The following circular, dated the 23d ult., has been sent by M. Ducos, Minister of Marine, to all the su periors officers of the navy, with instructions relative to their conduct in the present crisis : "Monsieur—My despatch of the 18th of this month has called your attention, in a special manner, to the grave complications which the Eastern question has produced in Europe. The negotiations entered into for the purpose of settling pacifically the difference which has arisen between Russia and Turkey have remained without result, and everything leads to the supposition that new efforts will remain ineffective. England and France have resolved to protect the Ottoman empire, and to oppose, even by force, the projects of encroachment of Russia. These two great nations are intimately united in their policy, and have reciprocally given each other the most certain pledges of their alliance. Their squadrons are cruising together in the Black Sea, and they give to each other the most sincere co-operation. The two governments, after having adopted a common policy, have also come to an understanding respecting all the means of action. This alliance of France and England is to make itself known not merely in the seas of Europe. The Government of his Imperial Majesty and that of the Queen of Great Britain desire to have the same union and the same accord prevailing in every latitude of the world. In consequence, the naval forces of England and France are bound to afford each other a mutual co-operation in every country, even the most distant. Immediately after the receipt of these instruc tions, you must take care to place yourself in relation with the commanders of stations and captains of vessels be longing to Great Britain ; and you will combine, in concert with them, all the measures which may have for object to protect the interests, the power, or the ho nour of the flag of the two united nations. To that end you are to lend each other a mutual assistance, whether for attacking the enemy when hostilities shall have commenced, or when the declaration of war shall have been made, or for defending yourselves if necessary. You are to accord your protection to all trading vessels of Great Britain in the same way as the vessels of war of England will afford aid and protection to our trading vessels. In a word, the two Governments of France and England desire that their naval forces shall act as if they belonged to one and the same nation. I reckon on your never losing sight of this rule of conduct, and on always acting on it in such a manner as to cement more and more, if possible, the intimate union of the two coun tries. As long as hostilities between Franco and Eng land on the one hand, and Russia on the other, shall not have commenced, or that the declaration of war shall not have been made, you will avoid taking the initiative in measures of aggression, and you will remain on the de fensive. I will take care, when the proper moment shall have come, to transmit to you the necessary instructions for attacking. Receive the assurance of my highest consideration. "THEODORE Ducos." The Salut Public of Lyons gives the following on the composition of the army of the East : "The expeditionary corps will comprise the 6th, 7th, 20th, 26th, 27th, 39th, and 74th regiments of the line ; 7th regiment of light infantry ; let, 3d, sth, 9th, and 15th battalions of foot chasseurs ; 6th battalion of Zouaves ; 2d battalion of native tirailleurs ; 8 squadrons of African chasseurs ; 11 batteries of artillery. Marshal de Saint Arnaud will be the Commander-in-Chief of the army. He will have under his orders Generals Canro bert, Bosquet, and Forest, who will command the in fantry ; d'Allonville the cavalry ; and also Generals Bonat, Espinasse, Vinay, and d'Autemare. M. de Martimprey is to be Colonel Chef d'Etat Major• General, and M. Desaint Lieut.-Colonel of the Staff and chief of Statistics and Topography. Colonel Lebeuf will com mand the artillery, and Col. Ardant the engineers." There was not much business transacted at the Bourse yesterday, the speculators waiting the Emperor's speech with great anxiety. It was not posted in the hall of the Bourse until 2 o'clock, and, as it could not be generally seen, it produced but little effect. The Three per Cents. opened at 67f. 35c., rose to 67f. 40c., fell subsequently to 66f. 85c., and closed at 67f. for the end of the month. The Four-and-a-Half per Cents. closed at 96f. 30c. ; Orleans Railwi y Shares, I,oBof. ; Rouen, 870. ; Havre, 440 f. ; Great Northern, 735 f. ; Paris and Strasburg, 712 f. 50c. ; ditto, New Shares, 562 f. 50c. ; Paris and Lyons, 815 f. ; Lyons to the Mediterranean, 657 f. 50c. ; Western of France, 580 f. ; Bordeaux and Cette, 537 f. 50c. ; Great Central. 4371. 50c. ; Lyons and Geneva, 452 f. 50c. ; Shares of the Bank of Credit Mobilier, 585 f. THE WAR IN THE EAST. ANSWER OF THE CZAR TO THE EMPEROR NAPOLEON. The St. Petersburg Journal of the 24th contain the following as the substance of the answer sent by the Czar to the Emperor Napoleon :-- "If his Imperial Majesty extends his hand to me as I extend mine, 1 am ready to forget the mortification, harsh though it be. " Then, but then only, can I discuss the subject treated of in his letter, and may perhaps arrive at an understanding. Let the French fleet prevent the Turks from transporting reinforcements to the theatre of war, and let the Turks send me a Plenipotentiary to negoti- ate, whom I will receive as befits his character. "The conditions already made known to the Confe rence at Vienna are the sole base on which I will con sent to treat," The following is from the Austrian capital : " VIENNA, THURSDAY EVENING. "It is credibly related that an Imperial manifesto is about to appear, in which, though mention will be made of the neutrality of this empire, his Majesty will announce that, true to the policy of his house, he will ❑ot permit insurrectionary movements near his frontiers, and therefore his troops will enter Bosnia and Servia. " There was a regular panic on the Exchange, where the foregoing news was not 'mown." A letter from Posen, dated the 26th ult., says : " We learn to-day from Warsaw t' tat the Russian regi ments which had received orders to march for the Prin cipalities have suddenly received a counter-order, and that several divisions will soon arrive as a reinforcement to the army iu Poland. It is to be presumed that the attitude of the German Powers, particularly Austria, has caused this determination. The Cabinet of St. Petersburg had reckoned on the absolute sympathies of Austria, and, if it be true that Austria and Prussia in cline strongly towards the Western Powers, we may hope that there will be no general war, and that Russia will avail herself of the first favourable opportunity for making peace with the Porte." A letter from Vienna, of the 25th ult., states that the greatest number of the Russian officers attached to the embassies of Russia at foreign courts, have requested their government to relieve them of their functions during the war, in order to be able to take part in the operations of the Russian army." The Austrian Government has published an order prohibiting the export of arms, ammunition, sulphur, saltpetre, machinery, &c., to the Turkish provinces limi tary to Austria. The Vienna journals state that all the British officers temporarily residing in Austria have received orders, through their ambassadors and consuls, to join their regi ments immediately, Letters from Constantinople to the 15th say that several Greek firms had taken large contracts for the army. General Baraguay d'Hilliers had had conferences with the Minister of War on the means of obtaining supplies for the French and English armies on their ar rival in Turkey. It was believed that it would be dis embarked on some point of the European coast of the sea of Marmora. The Turkish Government on its part was continuing to make immense preparati ons f or the campaign which is to commence in the spring ; and the military council was holding frequent sittings under the presidency of the Seraskier, to discuss the plans proposed. The name of Reschid Pacha's son who, as stated by electric telegraph, has married the Sultan's daughter, is Ali-Galib- Pacha; the princess is named Fati ma , an d she is the eldest daughter of the Sultan. There was a good deal of talk of the probability of an attack of the Russians on Kala fat, but practical men did not believe it. The place is now so strongly fortified th a t i t would require. a regular siege to take it ; but no s i ege can be undertaken at pre sent, as, when the weather is cold, the ground is so hard that trenches could not be cut, and when there is a thaw, the works would be l os t i n mu d . T he R uss i ans t h en, ' would,it was not d ou bt e d , h ave to wa i t f br the spring or at the very earliest for the beginning of next month, before commencing operations. Engagements, notwith standing, continued to take place on the whole line of the Danube, but they were unimportant. Very little direct information, however, had been obtained respect ing the movements of the Russians in the Principali ties, or as to the destination of the large reinforcements they had lately received. Omer Pacha had greatly im proved in health. The invasion of the Epirus by a band of Greek militia had not, says the letters from Constantinople, the importance which was at first sup posed. The Greeks had, however, made an attempt to cause the whole province to rise in insurrection in favour of Russia. In Asia military operations were suspended by the severity of the winter. English or French . steamers had made frequent excursions the Black Sea, but had not been able to learn anything respecting the Russian fleet. It was believed that it was shut up at Sebastopol, but nothing positive was known. The bad weather which continued to prevai detained the combined fleets at Beycos. "They await," says a letter, " with impatience the commencement of operations, as they are confident of su ccess. It is to be remarked, too, that in the frequent combined services of the two fleets, general or partial, the best understanding, th e must ' perfect courtesy, and becoming hierarchical rela tions, are constantly maintained between the officers of the two nations. The co-operation is frank and cordial, and complete results must be hoped for on the day o action." The Journal de Constantinople, of the 14 th, says : " We publish the address which the Europe an residents have presented to the Sultan, and which is victorious reply to the calumnies of certain journals, which have pretended that in the midst of the serious eir, cumstances in which we are now placed, the property, the com merce, and even the lives of the Europeans t esiding in Turkey, were every day threatened. This .document has a number of signatures, but we only give a few, and we follow it by the reply of Reschid Pasha, Minis ter of Foreign Affairs, in the name of his august Sovereign : " Sire,—The merchants established at Constantinople lay at the foot of the throne of your Majesty the ex pression of the deepest sentiments of affection, grati tude, and admiration, which have been excited in them by the imposing spectacle of a great people who con fide themselves to the wisdom of their Sovereign. In the midst of extraordinary circumstances and unfore seen events order and security have never ceased to reign, and the respect to persons testifies the intelligent direc tion of the government of your Majesty. This calm and this patriotic enthusiasm, which we see manifested on all sides, show the progi ess made by the Ottoman nation since the accession of your Majesty has inaugu rated a new era of material and moral prosperity, which will cause the grandeur of your reign. The r eligious and commercial tolerance granted in Turkey commands the admiration and respect of all nations towards the Sovereign who presides over the destinies of this vast empire. It is with happiness that the Europeset resi dents offer to your Majesty the homage of the it pro found gratitude for the constant protection whic h your ministers have never ceased to accord to corm nerce, which, with agriculture and manufactures, will c insti tute the force and grandeur of your empire. May your Majesty accept the respectful homage of the undersi nod, who loudly proclaim the benefits of your governs nent, and offer up ardent and sincere wishes which find an echo in all their fellow-countrymen of the west. "T. N. BLACK, P. DURAND, J. HIPFINGER, "W. EDE, C. ARLAND, C. VERROLLOT, CAeTELLI, FONTAINE, CAMONDO, &C." The following was the reply of Reschid Pacha " Gentlemen,—l have hastened to submit to his It n perial Majesty my august Sovereign the address wlitich has been sent to me by the European residents eatablisl lad at Constantinople. His Imperial Majesty has charged me to express his high satisfaction at the spontaneous mark of sympathy which is given to him in the gra re circumstances in which we are. I am happy, gentl o men, to have to express to you the sentiments of my august Sovereign—sentiments which I beg of you to r present to the persons who have signed the address, ar id to assure them at the same time, that the Government of his Imperial Majesty will always endeavour, in co ll fortuity with the Sovereign will, to accord to commence all the protection which may assure its security and pro sperity. Accept, &c., " MOIISTAFA. RESCECID. ITALY. The Piedmontese Gazette announces that the King. and Queen of Sardinia returned to Turin on the 26th ult. Their Majesties were loudly cheered by an immense crowd on entering the capital, and all along on their way to the Palace. In the evening the town was illuminated. LORD PALMERSTON. Considerable interest has of late been excited in the public mind, by those exhibitions of independence of his Ministerial colleagues which Lord Palmerston has recently made. We all know how, that one fine morning, three months ago, he suddenly, to the surprise as much of the other members of the Cabinet as of the country, severed his connection with the Government ; and we stated yes terday, that at a meeting of the Cabinet, held on the previous day, he declared, in the plainest terms, that he would vote for Sir E. Dering's proposal to post pone the new Reform Bill till next session, what ever might be the decision to which his colleagues in Council assembled might come. We have now to add that, on Tuesday evening, when the house was on the eve of dividing on Mr. Chambers's motion, relative to conventual establishments, his lordship coolly walked out, although Lord John Russell and all the leading members of the Government gave their most strenuous opposition to the motion,—the noble lord by a speech, as well as by his vote, and the others by their votes. How Lord Palmer ston's colleagues relish these displays of his independence, is more than we can tell.—Morning Advertiser. EXTENSIVE SEIZURE BY THE EXCISE. Last evening great excitement was caused in the neigh bourhood of the Caledonian-road by the report of a seizure by the officers of her Majesty's Excise of an illicit dis tillery, which had been carried on on a most extensive scale. The premises on which the seizure was made are situated at the top of Tivyford-street, where it was till yesterday believed the business of a colour maker and lin seed oil manufacturer had been carried on, under the style of Batley and Company, and at the door of which two hogs. heads, smeared over with linseed oil, were placed as a blind. From information received, the officers of the Ex cise, accompanied by the police, obtained an entrance to the premises from the garden of the adjoining house, and found three large stills, bearing all the appearance of having been lately in active operation. Two men at work at the time were taken into custody, and au inspection then commenced. The whole of the distilling apparatus was of immense size, and at a moderate calculation from between forty to fifty gallons of illicit spirits could be run per day. The mode of carrying on the business had been very successful. It appears that for some time past a cart covered with tarpauling had been known to leave the premises early in the morning, but from the fact of the yard being p. otected from observation by a large pair of gates bearing the inscription, "Batley and Co., colour manufac turers, and linseed oil merchants," not the least suspicion was entertained but that oil and ochre were being con veyed from the premises, the workmen on leaving the yard at meal-times being coloured as if employed in manufac turing the article. The amount of manufactured spirit seized amounted to upwards of one hundred gallons. Be tween eleven and twelve o'elock last night the removal of the whole of the utensils employed took place, and occu pied three large vans in its conveyance to the office of the Inland Revenue. One large van left the premises entirely filled with hogsheads, piled one above another, each large cask containing a number of smaller ones, the other vans being filled with the stills, receiving pans, &c. The cart, which until yesterday had been used in carrying on the contraband trade, conveyed away the hogshead containing the spirits. There was a great quantity of fuel also found on the premises. The house remains in the occupation of the police. ST. MARTIN'S BALL. Last evening a concert was given at the above hall for the benefit of the Governesses' Benevolent Institu tion, the Royal Society of Female Musicians, and Choral Fund. A new oratorio, entitled " Immanuel," written by Mr. Henry Leslie, an amateur of considerable cele brity, was performed fer the first time on this occasion ; the principal vocalists being Miss Dolby, Mrs. Ender sohnn, Miss Amy Dolby, Mr. Lockey, and Mr. Weiss. The conductor, Mr. Benedict. The production of a new oratorio, which shall not only avoid condemnation, but achieve decided success on its first representation before a critical London audience of the highest caste, is no ordinary achievement in the life of any musical composer. This achievement must be conceded to Mr. Leslie. The whole production is most honourable to its author. The performance was in every respect satisfactory. Miss Dolby is entitled to the highest praise. She ac quitted herself of her onerous duties with an amount of truly poetical feeling and artistic skill which left nothing to be desired. Her sister, Miss Amy also executed her part, no light one, in the various concerted pieces cor rectly and tastefully. Mrs. Endersohn gave a very sat isfactory version of the frequently difficult first soprano part, whilst great justice was done to the principal tenor and bass music by Messrs. Lockey and Weiss. A tribute is due to Mr. Benedict, who conducted the whole performance in a most masterly manner. At the termination of the oratorio, Mr. Henry Leslie was called for and enthusiastically cheered. The hall was well attended. The Duke of Devonshire arrived in town yesterday, from his splendid marine villa at Kemp Town. The Earl and Countess Bruce have been entertain. ing company at Severnake Lodge during the past week. STAR CUM.—The Right Hon. the Lord Mayor, his Excellency the American Minister, Admiral Sir Geo. Sartorius, Mr. G ar d ner , M.P., r. Jackson, M.P., Mr. John Ma c G regor , M.P., and several other mem bers have intimated their intention of being present at the next meeting appointed for Wednesday, Bth March, at Fenton's Hotel. _ _ We understand there are many attractive novelties in preparation for Mr. Packer's bal costume at the Casino de Venise, which will take place at the close of this month. Report speaks favourably of the Isolabella Quadrille and the Doneraile Waltz, by the composer of the Seymour Polka. MB. THOMAS WILLIAMS' LECTURES ON VOCAL MUSIC. —HACKNEY LITERARY AND SCIENTLIIO INSTITUTION.— On Wednesday evening last Mr. Thomas Williams de livered his popular lecture on '' English Music and English Musicians" at the above institution, on which occasion he was assisted in the vocal illustrations by Miss B. Williams and Miss Clara Duval, Mr. F. Osborne Williams presiding at the pianoforte. The musical portion of the entertainment was well selected and effectively performed ; the encores were numerous, and the lecture itself, which consisted of a very agreeable combination of judicious criticism and pleasing anecdote, afforded the greatest amusement to a crowded and highly respectable audience. ABERDEEN UNIVERSITY.—On Wednesday last Colonel W. B. Sykes, H. E. I. C. S., was elected Lord Rector of the University of Aberdeen for the current year. Colonel Sykes has commended himself to the favourable notice r,f tho. University by placing at the diapoal of the seiatois an appointment iu the medical department of the East India Company's Service which is under his patronage. IN RE CUTLER. The bankrupt was described as of Ryde, Isle of Wight, builder, and to-day was appointed for his last examination. The balance sheet, prepared by Mr. Watson, Basinghall street, shows :—Dr. to creditors, 3051. 9s. 6d. ; liabilities, 2801, ss. Bd. Cr. good debts, 2221. ls. ; property, 101/. Mr. J. R. Chidley, Gresham-street, appeared and applied for an adjournment in consequence of the illness of the bank rupt. Mr. Beard, from the office of Mr. W. R. Buchanan, assented on behalf of the assignees. R.F.SPONSIBILITY OF OFFICIAL ASSIGNEES.-f( HE SWALLOW. This bankrupt carried on business as a licensed victualler at the Park Tavern, Battersea, and had built several other houses, but had been driven to bankruptcy through proceed ings in Chancery. Mr. Chidley now appeared for the assignees to obtain the sanction of the court to proceedings to enforce a specific per formance which would benefit the estate a large sum. It would be necessary to make the official assignees one of the parties to the suit, but as he was not protected from costs under the bankrupt law, the trade assignees would indemnify him from loss. His Honour, on that condition, sanctioned the proceedings. CRIMINAL COURT.-(THIS DAY). OLD COURT. Upon the Chief Baron taking his seat William Anderson, who was upon Wednesday convicted of forgery, was brought up for sentence. The prisoner handed in a quantity of documents to show that he had some authority to act as he did, and begged that his sentence might be postponed until next session, that he might have an opportunity of being examined before the Com missioners of Bankruptcy, and that he would be able to ex plain away many of the circumstances which tended to his conviction. The Chief Baron said there could be no doubt about his guilt, and, in a most suitable address, sentenced him to eight years penal servitude. NEW COURT. (Before the Recorder.) SENTENCE UPON JEREMIAH SMITH, MAYOR OF RYE. Upon the sitting of the Court this morning, Jeremiah Smith, who was last night convicted of perjury, was brought up for sentence. The solicitor to the defendant said that there was no inten• tion to make any motion in arrest of judgment. The Recorder, in passing sentence, said he had no doubt upon Ifs mind as to the correctness of the verdict. The na ture of the offence was of a very grave character, and, if not checked, tended most materially to disturb the proceed. ings of our courts of justice, and taint the whole course of judicial investigations. The present case was one of a pe culiar zharacter, and the position filled by the defendant made it one of more than usual public import. Still he was happy to add that there were some circumstances of a mitigatory °hammer ; and, having consulted with the Judges, they were of opinion that they should be taken into consideration in passing sentence. The defendant having shown signs of re pentance by his subsequent admissions before the committee he should also take into consideration ; but still he must pass a Boyce sentence, and one that to a man in defendant's posi tion would be more so than to persons otherwise situated. He was, after some further remarks, sentenced to 12 menthe imprisonment in Newgate. This does not entail hard labour. WMTMINSTIR TERMINUS RAILWAY.—The Admiralty have appointed L. D. B. Gordon, Esq., to conduct the preliminary inquiry into the merits of the proposed plan fir constructing a railway along the banks of the Thames, previous to making a return to Parliament before the passing of the bill empowering its forma tion. The promoters of the plan have been summoned to give detailed explanations. All persons locally in terestet will have an opportunity of stating their ob jection*, if any, to the proposed manner of crossing the name*, ~~ SPAIN. The Madrid journals of the 25th ult. contain amounts from Saragossa to the 22d, which state that the detach ment of cavalry sent in pursuit of the insurgent regi ment of Cordova had not returned ; the insurgents were, it was supposed, making their way to the French fron tier. A sergeant and some soldiers had given them• selves up. Ten of the soldiers who had been taken in the suburbs of Saragossa wounded had been sent to the military hospital, as had also the wounded soldiers who had remained faithful. The number of soldiers killed, including Brigadier Horre, is said to be five ; but several of the officers in flight are wounded. The lieraldo says that there is no truth in a report that was current that the insurgents had gone to 'biases, and had been joined by the garrison of that place. The Espana says that Colonel Cayetano Cardero and M. Asquerino, who had been arrested, had been set at liberty ; and that four writers of the Nacion, one of the Epoca, and one of the Las Novedades, for whose arrest orders had been issued, had not been discovered by the police. Several of the principal bankers had assem bled at the Ministry of Finance to deliberate on cer tain propositions of the Government ; but they had not come to any resolution, and were to meet again. The Prince and Princess de Joinville, who, as has been. stated, are making a journey through Andalusia on. horseback, arrived at Granada on the 21st. A letter says :—" The Minister of England is to give this day a grand banquet to which the President of the Council has been invited. Last night some more arrests were made in this city. A General is particularly spoken of, and it is said that a most important corres pondence has been seized in his residence. Most of the persons wrested are kept in secret confinement at the chief office of the police. They are treated with the respect due to their political position. M. Gonzalez Bravo and M. Alejando Castro have obtained passports from the Government to proceed abroad ; they intend to go to France. The Court-martial of Saragossa is sitting permanently. Troops have been sent from Pampeluna and Lerida to stop the flight of the insur gents towards the frontier. It will be difficult for them to escape over the Pyrenees into France, owing to the difficulty of the passages, and the immense quantity of snow in them." The Three per Cents. were done a.t 35 ; Three per Cents., Deferred, at 181 ; Redeemable Debt, Ist dam, 7i ; ditto, 2d class, 41 ; Coupons, 3. Exchange on London, 51. 40. THE MAILS. SOUTHAMPTON, Thursday, March 2.—The Royal mail steam ship La Plata, Captain Charles Weller, sailed to-day at 3 p ra., with the usual mails for the British and Foreign West Indies, Havannah, the Gulf of Mexico, the Pacific, and Cali fornia, in charge of Lieutenant Stewart, R.N., Admiralty agent. La Plata takes out 69 passengers, specie value 15,0001. sterling, jewellery value 2,0001., a full cargo of continental and British merchandise on freight, and 200 bottles of quick silver. The Peninsular and Oriental Company 's steam-ship Indus, Captain John Soy, with the heavy portion of the East India, China, and Mediterranean mails, is expected to arrive here on Monday next. She has on freight, from China and India, 1,106 packages silks, 48 packages sundries, 17 cases shawls, 9 boxes plants; and from Alexandria, 107 bales flax and 26 packages sundries. The alternate monthly maids for King George's Sound, Adelaide, Port Philip, and Sydney, for warded via Singapore, will be despatched from Southampton on Saturday, the 4th instant, with the overland m ails for India and China, by the steam-ship Euziue. It appears that the General Screw Steam Shipping Company's steamer Queen of the South is not to be used for the conveyance of troops, but is appointed to sail from Southampton on the Oh of April, for Adelaide, Port Philip, and Sydney, and will he the first contract mail steamer of the General Screw Cot Ivan,' under the terms of their recent arrangements for an alt ernate monthly mail service to Australia, with the Admiralty and Post-office authorities. The Propontis will take the place of the Queen of the South on the India and Cape line, and is to leave Southampton on the 14th instant for the Cape, Mauri tius, Ceylon, Calcutta, ere. The United States' mail steam ship Washington, Captain E. M. Fitch, left Southampton yesterday (Wednesday) afternoon, with the usual semi-weekly American mails, about 150 passengers, and 630 tens measure ment goods on freight, principally from the German and French markets, shipped at Bremen and Havre. TO THE EDITOR OF THE SUN. Srn,—l beg leave, through the medium of your Co lumns, to draw public attention to the result of the im moderate use of ardent spirits in this country. The quantity of British, colonial, and foreign spirits entered for home consumption last year exceeded forty seven millions of gallons, which gives an average of twelve pints to each individual of the United Kingdom. The quantity of foreign wines entered for home conenmp tion was seven millions of gallons, affording each person two pints. In England, according to statistical returns, the num ber of insane persons is one in seven hundred, while in France it is one in three thousand. The general use of light wines in the latter country may fairly be considered the principal cause of the sobriety and temperance of the people ; and it can scarcely be doubted, were the cheap and wholesome wines of the continent admitted at a moderate duty, that it would increase the revenue, and decrease the numbers in our lunatio asylums.—l am Sir, your obedient servant, March 2, 1854. A CONSTANT. RIADANR. LLOYD'S SHIPPING.-(THIS DAY.) LONDON, March 3.—Wind this day at Noon, S.E, light breeze, and fine weather. RAMSGATE, March 2.—Wind, N.E. Sailed--Adolph, for West Indies • Ida, Civits Veechi ; Pomona, Garr oo h s; Gertrudes, Bilbo's ; Arno, Le Orient. COWES, March I.—Wind, S.E. Ar rived —Union, from Hartlepool, and sailed for Malta. Sailed — basis,for Geelong ; Cosmopolite, Valparaiso. DovEn, March 2.—Wind, N. . Sailed—Pat r i o t, f or Cadiz ; Gem, Charente, after repairing. PORTSMOUTH, March 2.—Wind, S.E. to E. Arrived-- Victoria, from London, and sailed for New York ; Dauntless, westward ; Ontario, London, for Melbourne, nd S. Arrived—Hillechiene, Engine, do. ; - Vasco de Game do. Off Port jm w i ton ; N Mfo e ar w rSch° o l2 r t leans ; Patrick and Henry, New an F d ai r a oc o e t e i d Tn ed , — fro Ernestine, ; York. SOUTHAMPTON, March 2 . —Sailed—La Plata (s), for the West Indies. GRIMSBY, March 2.—Wind, S.S.W. Arrived—Alpha, from Hartlepool, for Plymouth, with damage, having been in contact with the Albion (brig), of South Shields, the Dudgeon Light bearing S.S.E. WHITBY, March I.—The Ocean Queen, of Colchester, from Hartlepool to Lond on , was abandoned 27th Feb., off this place, after being in contact with the Policy, of Null. BERGEN, Feb. 1 7.—During a severe gale at N., in the night between 14th and 15th Feb., much damage was done in our harbour; the brig Sostrene Clausen, of Christian sand, was obliged to cut away her masts ; subsequently drove on shore, filled, and is much damaged. (BY ELECTRIC TELEGRAPH.) LIVERPOOL, Fridiy, 10.45 a.m. Wind, S. ; moderato, and cloudy. Arrived —Cormorant (a), from Rotterdam ; Livorno (s), Maneilles ; Alfredo, St. Michael's ; Asia, Manilla ; Queen of the East, St. John's, N. 8., in 18 days; Pudyons, Charleston ; Ashburton, New York ; Black Hawk, Mobile. Sailed—Marcella, for Adlesund. (BY SUBMARINE AND EUROPEAN TELEGRAPH.) GRAVESEND, Friday, 9.44) a.m. Wind, calm ; tide, 54 hours' ebb ; fine. Arrived—Lightning, from Guernsey. DEAL, Friday, 9.17 a.m. Wind, calm ; very fine. Anchored—Thomas Mitchell and Grange, from London, fer Calcutta. 4,caiu4 SHA st. i 20 St. 11 St. 11 50 50 20 20 : 10 50 25 'St. 25 Bt. 10 13t. 10 10 St.lo 10 Bt. 10 St. 10 St. 10 St. 10 Bt. li 12 GO i . 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