The Sun. — London, England, 1847-10-26 00:00:00

readiness to enter into future commitments, where otherwise all would have been caution and contrac tion ; a renewed drain of bullion, unattended to this time, because the " Government will give aid if things go wrong ;" a contraction of the circulation ; new deputations for relief enforced by representations of the good effected by the relief in October; new concessions ; another rebound of prices and of " con fidence ;" again a drain of bullion ; as alarm at the exhausted coffers of the Bank ; a rush for gold ; an issue of one-pound notes ; another rebound and ano ther panic, and, finally, a suspension of specie pay ments. The order of rapidity with which these circumstances may come about no one can attempt to determine, because, the Minister having undertaken to regulate the supply of money, it is now a matter not of calculation according to fixed laws, but entirely of individ ua l di scret i on ; but, that su ch events or others analogous to them will happen, can only be doubted on the supposition that the yielding Minister of to-day will determine at some time of far severer peril to take his stand and to deny relief of any kind. CHRONICLE.—We congratulate both the Go vernment and the country upon the decision which has put so many deep anxieties at rest to-day. The change is opportune, and making due allowance for the delay which the weight of official responsibility sufficiently explains, we can accord to Lord John Russell the merit of having dealt with the crisis of mercantile affairs to the full satisfaction of the community. This act of firmness an d d evot i on will come back with advantage to its author. The com mercial interest—in other words, the empire —will place their trust in the statesman whose quick eye and ready hand have their place beside the helm in the hour of danger ; and while we write the intel ligence of the joyful event is speeding to every portion of the country, conveying the welcome news of relief, and creating a confidence in the present Cabinet which it will be truly their own fault if they should lose. In London the general impression is most cheering, and the wisdom which has left the in creased issue unlimited in amount is everywhere the subject of remark. HERALD.—The determination of her Majesty's Ministers, officially communicated to the directors of the Bank of England, and the resolutions passed by them thereon, have at length recognised the principle that the Bank Charter Act is not adapted to such an emergency as the present. It is well known that Ministers have submitted to the relaxation with very great reluctance, and it is at the same time necessary to state that the measure, as it now stands, is very far from giving general satisfaction to the commercial interest. Whether, therefore, it will allay distrust, as is the ostensible object, remains to be seen. That the rate of 8 per cent. per annum is far beyond the average rate of profit on production, requires no illustration, and the boon held out can, therefore, only apply to persona requiring temporary relief to prevent them from sacrificing property in the hope of matters amending. It is not for a moment to be expected that new undertakings will be entered into when that rate of interest has to be paid for the capital requisite to carry them on. Another objection is very generally taken to the Bank extending their loans to the public securities. The appeals made to Ministers by the deputation from the City, as well as from all the large towns in the provinces, distinctly confined the applications for relief to the commercial interest, and not for the purpose of propping up the p r i ce o f pu bli c securities, and fostering a systematic speculation which the Ministers profess to decry. This objection we con sider, however, may be partially met by the very high rate of interest charged by the Bank, for whilst money can be securely employed at that rate many persons will be induced to sell stock which will not produce them half the amount of annual income. The only argument we have heard advanced in fa vour of so high a rate of interest is the fact of the Fresch loan now impending, for in the present state and prospects of the country every possible discou ragement should be given to foreign investments in any shape and form. Rumours have been confidently circulated through out the day in the City that a partial change of Ministers will take place before the meeting of Par liament. These rumours have originated in circles professing to be in the confidence of members of the Cabinet, which is all we can say upon the subject. POST.—The Bank directors have acted with a firmness and discretion for which they are entitled to commendation, in having compelled the Government to take upon itself the responsibility of adopting measures for the relief of the intensity of the crisis. The Government, in turn, though committed to Sir Robert Peel's scheme of 1844, which has brought so much ruin upon the country, has also manifested some prudence in making, as it is clear it has done, the ex-Premier a party to the authority this day given for the virtual suspension of that very destructive example of the Right Hon. Gentleman's monetary legislation. It is assumed in the City that the Bank Act of 1844 has gone completely to pieces, as there can be no doubt, after the events of the few months past, and more particularly what took place this morn 'ng, that the enactment will undergo an extensive modification on the re -assembling of Parliament. Lord J. Russel's Administration has, it appears, been ooking supinely on in the vain expectation that mat ters would mend. Some trifling circumstances oc curred to inspire hope, such as a contemptible return to the country of the gold exported—for what, it may be asked, has been the amount ?—but the whole fabric of our commercial credit being found to be on the totter, it proclaims its disappointment and avows its conviction that the time has arrived when it ought to attempt by some extraordinary measure, " to restore confidence to the mercantile and manufacturing community." Sir Robert Peel has, we presume, been made to acknowledge the failure of his Bill of 1844, and, happen what may, he cannot in this case pretend at any future time to say that all would have come right had the operation of it not been inter fered with. The removal of the restriction on the issues of the Bank will, there can be no question, have a most salutary effect. The private bankers will no longer withhold accommodation from a dread of some emergency that might give occasion for extraordinary resources. They now know, at all events, that, with Consols or Exchequer -bills to offer as security, money may be had, though at a high rate of interest. It is probable, therefore, that within the space of a few days discounts will be obtained in the open market at from 6 to 7 per cent. per annum. It will be observed that, for stock, xchequer-bills, and short-dated bills of exchange, the Bank charge will be s per cent. per annum ; but that, for bills not having more than 95 days to run, that rate will be th e m i n i mum. It is of course believed that such an arrangement must, in a certain sense, prove inoperative. With a heavy loss on imports, merchants cannot afford to pay 8 per cent. for the use of money, and in this circumstance is involved a serious falling off in the public revenue, especially in the item of Income-tax. The repeal of the Usury Laws has been again the subject of condemnation, and what will be thought on the Continent of the advance, on the part of our national bank, of its minimum of interest from 5i to 8 per cent. at a single coup, and this pro fessedly for the relief of our suffering commerce ,it is hard to say. The wisdom of recent English legis lation on banking affairs certainly will not pass into a proverb. ADVERTISER.—The hopeful anticipations in dulged in on Saturday, that Government would afford relief to the mercantile community, have been more than realised by the important events of this day. From an early hour the anxiety manifested in all circles was more conspicuous even than at any former period during the present crisis ; and although it was felt that Government had, from the commencement, manifested an indisposition to disturb the Currency Bill, the impression became general, especially i n well-informed quarters, that the representations made by the bankers, who last week waited upon Ministers, were so serious as to have caused a reconsideration of the question. About two o'clock its transpired that the Governor of the Bank of England had received a most favourable communication from the Treasury, re ccmmeading the Bank to make loans upon good security at 8 per cent., and if necessary to issue _notes for the purpose, and intimating that a Bill of Indemnity will be of Parliament. applied for in the ensuing session and The letter has given the highest aatisfaction ver ,. may be the views of parties as to the neessi.et. of Peel's Bill, a n See yet a permanent relaxation e m o to express approval of the manner in which the ate ne t z e si b on is made. By keep ing money at a high r ate the u h llion will be kept in the country, confidence restored without houses of doubtful means bein g wll szp a rted, and the surplus means of the wealthy s . lArsed, so as theciercxut::: to impart legitimate activity to trad e . stance of all profit on the over-issue being secured to the country will operate as a check upon sion of undue facilities. The Bank of England has, in accordance with the been this day doing best bills, having 95 suggesti° ll , days to run, at eight per cent., and will loan upon stock, Exchequer-bills, &c., for periods of six week s at a time. ACCIDENTS ON THE YORK, NEWCASTLE, AND BERWICK RAILWAY. —On Wednesday au accident oc curred at the station at Tweednaouth which m i g h t h ave occasioned a serious loss of life. The train which leaves Newcastle at halt-past two o'clock in the afternoon arrived at the terminus about half-past five; and whilst the guards and porters were collecting the tickets, - a pilot engine ran into the train with fearful violence. The consequence was that some of the carriages were more or less broken, and the passengers thrown together with such force, that ten or twelve of them received severe bruises and wounds, but fortunately no bones were broken. Of the entire number of passengers, some where between sixty and seventy persons, there was not one but was more or less hurt. On the same day, near the Accrington station, a man was run down by a train and k illed.—Gateshead Observer. The Chinese call going to law, " l o sing a cow to win a calf." without a With us it is oft it losing of the cow winning IA the e/af. HZ SttN, INDIA and LONDON LIFE ASSURANCE COMPANY, 14, WATERLOO-PLACE, PALL-MALL. Notice is hereby given that the ADJOURNED ANNUAL GENE RAL MEETING of this Company, will be held at these offices, on WEDNESDAY, the 10th day of November next, at One o'clock, for the transaction of the ordinary business of the Company. By order, A. R. IRVINE, Manager. October 26, 1847, Now ready, in ONR VOLUME (comprising as mush matter as twenty ordinary volumes), illustrated with 1,3 W VAgravings of Arms, &a., 3sa. bound, B URKE'S PEERAGE and BARONETAGE, TOE 18.47. NEW and REVISED EDITION, Corrected throughout to the present time, from the personal com munications of the Nobility, &c., and CONTAINING all the NEW CREATIONS. "The most complete, the most convenient, and the cheapest work of the kind ever offered to the public."—Sun, Henry Colburn, Publisher, 13, Great Marlborough-street. RAILWAIt eIIAIIES BY PUBLIC SALE. nESSES. LAMOND and Co., RAILWAY SHARE AUCTIO.NEERS, beg to thank their Friends and the Public for their continued support and patronage, and to announce that their Public Sales of Railway Shares, &c., eke place every WEnntshar, at One o'clock, (instead of Tuesday and Friday, 83 hitherto), at the Hall of Commerce, Threadneedle street, London, to which place, favours, containing instructions (with a reference), are respectfully requested to be addressed. All Scrip and Share Certificates must be deposited, the day previous to their being offered ; and advices of results will be forwarded by the first post after the sale, and the proceeds Imme diately disposed of according to instructions. N.B. Sales and purchases of all descriptions of stock and shares effected by private eantraet, every day, as usual. Offices. Hall of Commerce, Threadneedle-street. London. THEATRE ROYAL, DRURY-LANE. M. JULLIEN'S ANNUAL SERIES OF CONCERTS. For One Month only. Eighth night of the new Swiss Quadrille. Second night of "La Figlia del Reggimento." Solo by M. Bauman. Solo by 31. Sainton. Programme for THIS EVENING (TUESDAY), October 26, 1847. PAIT I.—New Overture, performed for the first ,time, composed by the Abbe Volger, the 'master of Carl Maria Von Weber—Quo drille, Ernani, Jullien—Solo, Bassoon, M. Bauman—Valse, Le Deser, with variations for the first and second Violins, Tenors, Violoncellos, and Contra [Buses, Beethoven—Recitative and Aria, sung by Miss Dolby,] 31 ozart—Quadrille, New descriptive . Quadrille, The Swiss Quadrille, JuDien. Part II: Opera, La Figlia del Regimento, grand selection, with Solos by Herr Koenig, Mr. Lazarus, Mr. Barret, and M. Bauman, Donizetti (second tints). La Figlia del Reggimento is considered Donizetti's chef d'oeuvre du genre, and is the Opera in which Mdlle. Jenny Lind created the great sensation, during the last season, at her Majesty's Theatre—New Polka, The Rhine Polka, Jullien— Symphony, The Andantino, from the Symphony in A, Beethoven— National Song, The Swiss Girl, sung by Miss Dolby—Valse, Mi randa, Kosnig—solo, Violin, M. Sainton, Sainton —Comic Polka, The American Polka, Junto/. The Concert commences at Eight. Promenade and Boxes, is. ; Dress Circle, 2s. 64. THEATRE ROYAL, HAYMARKET. Under the Management of Mr. B. Webster, sole Lessee. THS EVNING Will be revived, Sbaksperels Come Edy of THE TAMING OF THE SHREW. Baptista, Mr. Gough ; Vincentio, Mr. Tilbury ; Lucentlo, Mr. 11. Vandenhoff ; Petrucio, Mr. Webster; Grtunio, Mr. Keeley ; Katharina, Mrs. Nisbett ; Bianca, Mrs. Seymour. After which, THE INVISIBLE PIIINCE or, The Island of Tranquil Delights. To conclude with a New and Original Farce, called WHO'S MY HUSBAND ? Doctor Mull, Mr. Tilbury; Daniel Tootles, Mr. Keeley ; Mrs. Smith Thompson, Mrs, W. Clifford ; Sophonisba Mull, Mrs. L. S. Buckingham ; Sally Starch, Mrs. ilumby. Stage Manager, Mr. Farren; Acting Manager, Mr. F. Web iter. J. T. Archer, Box-book keeper. Boxes, Is. ; Pit, 3s. ; Gallery, 2s. ; Upper Gallery, Is. Doors open at Half-past Six, Performance to eminence at Seven. THEATRE ROYAL, ADELPEI. Under the direction of Madame Celeste. THIS EVENING Will be performed the celebrated Drama, called TIIE GREEN BUSHES ; or, A Hundred Years Age. Murtogh, Mr. 0. Smith ; Dennis, Mr. Cullenford ; Jack Gong, Mr. Paul Bedford ; Grinnidge, Mr. Wright ; Captain Dartois, Mr. Worrell ; Madame St. Aubert, Madame Celeste; Geraldine, Mrs. Yates; Nelly O'Neil, Miss Wool gar After which, a New Farce, entitled THIS HOUSE TO BE SOLD :the property of the late William Shakspeare), Inquire Within. Cha racters by Messrs. Wright, Cullenford, Worrell, 0. Smith, Paul Red ford, Mrs. Laws, &c., &c. To conclude with the original farce, called HOW TO SETTLE ICCOUNTS WITH YOUR LAUNDRESS. Whittington Widgetts, sir. Wright; Jack Brown, Mr. Ilainyard ; Squibb, Mr. Redmond ttyan ; Mary White, '!Sias Wooigar ; 31dile. Cherry Bounce, Miss Enuna Harding. Boxes, 43.; Pit, 2s. ; Gallery Is. Doors open at Half-past , t six, Performanc e to commence at Seven, --___ ROYAL LYCEUM THEATRE. Under the Management of Madame Vestris. Sole Lessee, Mr. Charles Mathews. TIS EVENING, Will be presented a new F H arce, called LIGHT DRAGOONS. Lord Alfred Martingale, Mr. Charles Mathews ; Albany Lovelorn, Mr. R. Roxby ; Dr. Rhatany, Mr. Frank Matthews ; Mrs. Crowsfoot, Mrs. C. Jones ; 3latilda, Miss Howard. After which, a new Comic Drama, entitled THE PRIDE OF TIIE MARKET. Principal characters by Messrs. Buckstone, Leigh Murray, Granby, and Parselle; Miss 11. Gilbert, Mrs. C. Jones, and Madame Vestris. To conclude with THE TWO QUEENS. The Interior of the House has been entirely re-designed by Mr. W. Bradwell of the Colosseum. Dress Boxes, ss. ; Upper Boxes, 4s. ; Pit, lc ; Gallery, Is. No half-price to any part of the house. The New Box-office, No. 2, Wellington-street, is open to the Public every day, from Ten to Six. PRINCESS'S THEATRE. Engagement of Mr. MA.CREADY and MISS CUSHMAN. THIS EVENING Will be performed the Opera of GUY MANNERING. Colonel Mannering, Mr. Conway; Henry Bertram, Mr. Barker; Dominie Sampson, Mr. Compton ; Dandle Dinmont, Mr. Neville ; Lucy Ber tram, Mies Ann Romer; Meg Merrilies, Miss Cashman. To conclude with THE WONDER. Don Felix, Mr. Cooper ; Colonel Briton, Mr. J. Vining; Donna Violante, Miss E. Montagne; Donna Isabella, Mrs. R. Gordon. Dress Circle, 55.: Boxes, 45.; Pit, 2s. ; Gallery, Is. it of the power of making the attempt ; where under the former law, there should be general distress and embarrassment, under the latter there must have been hopeless ruin and a national bankruptcy. Her MAJESTY'S Ministers struggled to the last against an admission that the Act had failed. They re mained for a considerable period deaf to the demands for relief that were reiterated from every part of the sountry. They hoped, even against hope, that the panic would subside, and that confidence would be again restored ; and they, consequently, steeled themselves against every application for assistance, and would not hold out even the slightest hope deny change or altera tion in the law that had created that panic. They have at length admitted the fallacy :of these hopes; and after the property of the nation has been depre ciated to the extent of five hundred millions sterling, or nearly two-thirds of the national property—after mercantile firms of the highest character, and almost un bounded credit, acquired during many years of business, had been forced to bend to the storm, and to suspend payment from want of the usual facilities for carrying on their operations—after factories were closed, and productive employment was gradually taken away from the operatives—and, finally when the honour and integrity of the British name had become tarnished in other lands, and British credit had been so far depreciated, that bills on England were no longer acceptable on the foreign exchanges, and that pay ment should be made in specie for what we might still require, —the Government at length came to the conclusion " that the time bad arrived when they ought to attempt, by some extraordinary and tempo rary measures, to restore confidence to the mercantile and manufacturing community." Few will be dis posed to assert that this conclusion was prematurely arrived at, or that matters could still be permitted to take their course, and to await the deliberations of the Legislature assembled at the usual period. We believe that the late Premier, the parent and author of the measure, was himself aware of the absolute necessity for its suspension, and that he was an assenting party thereto. Under any circumstances the fate of the measure is now sealed. It cannot be consistently maintained by those who have consented to its suspension. Sir ROBERT PEEL felt that if the corn-laws were once suspended by order in Council, that they could never again be renewed. He had been blamed for not taking that decided step when he admitted the urgency of the crisis, and the propriety of the alteration ; but he excused himself, because it was more constitutional to allow the Legislature to decide whether the prin ciple they had formerly affirmed should still be maintained, or for ever abolished, and if even a temporary relaxation had taken place, it could never be re-established ; and he was so far right. It would be impossible to induce those who had even for a few short months had a free and unrestricted trade again to submit to the doctrines of protection, and the monopoly against which they had so long and so energetically strug gled. The Act of 1844 is, therefore, virtually con demned, and can never again be put in force. It is, however, now incumbent on the Govern ment to lose not a single hour in calling together the representatives of the people to receive their assent to the change which they have made in the laws of the country. It is a constitutional duty. which they owe to the nation, to take the earliest opportunity of consulting Parliament on the pro priety of the alteration. Whenever a step is taken that will require the passing of an Act of Indemnity to justify the parties who have trangressed the law, it should be done without a moment's unnecessary delay. An act wholly opposed to the principle of a measure deliberately adopted by the Legislature has been sanctioned; the departure from that law should not be continued for a longer period than until the Parliament can be got together to review their former decision. All admit that the necessity of the case justified the suspension of the law, but it may form a very dangerous precedent, if the law should remain for many months suspended without an appeal to the only power by which it can constitutionally be changed. The present indulgence, too, is of so limited a cha racter, and imposes so high a rate of interest for money —a rate so injurious to our merchants and manufacturers that it constitutes an additional reason why the opinion of Parliament should be imme diately taken on the matter. Eight per cent. is now the minimum rate of discount at the Bank .of' Eng land, and that not merely for the additional su mis they are authorised to issue under the letter of th e Pre mier and the Chancellor of the Exckiequer, but also on their entire circulation. Th e rate has been raised at once from five-and--a-half per cent. to eight per cent., or more than fifty per cent. Can our commerce long sustain the burden of such interest ? Can manufactures flourish .or pro duction be carried on while subjected to such a charge ? It is manifest that when the minion] m rate of the Bank is eight per cent. the public canner t hope for accommodation from other sources at less than ten or twelve per cent. This cannot long be submitted to, and requires immediate attention, We do not deny that, even with that great. draw back, the power of issuing an unlimited vaantity of notes will be highly beneficial, and that it will probably have the effect of restoring the co n fidence that was so greatly impaired, but it is not a state in which the nation can be kept until the n dinary period of the assembling of Parliament. It is hardly reasonable either that the Bank of E ngland should long be expo'ed to additional labour and additional risk, and that the extra prof it should belong to the public, thet the whole should loe gra tuitously encountered. Let then Parliament, be im mediately summoned. It is at the same th ne the only constitutional course for the Govern] n ent to pursue, and it is that which the exigencies, of the nation most urgently requires. Whilst the illustrious Republic, consolidate by the ailitary genius of WasulNGrox and the di,pY .canatic wisdom of FRamr.LIN, is tarnishing the glot? . . y of its banner and the lustre of its reputation by a sh ameless incursion upon Mexico, a melancholy spe ci 'Lacle is presented to the world by the dissensions wl eh still continue to convulse the cantons and estra r .ge the confederates of the European Republic of ;3 witzer land. A lust of territorial aggrandizement h; si led to those butcheries which have dyed the sword of the United States with the damning guilt of inhrin sanity, transforming their bravest soldiers into mral tuders, and their most distinguished captains into bu, tneers. The torch of religious fanaticism has, on the other hand, ignited the inflammable sentiments c , f anti pathy which have so long been concealed u; is ler the semblance of an indissoluble friendship. We • may be inspired with feelings of indignation against t he un principled ambition of Mr. President POLK, I ,ecause we recognise in the consequences of that ; it abition the agonies of Mexico and the degradation of the United States ; but in reviewing the corresp 41:1 ndence which has arisen between the federal cat > tons of Switzerland we are disposed rather to em .1) loy the language of regret and lamentation. A moment's inquiry into the t .;ircum stances which have led to the warlike preparations of the Diet, and to the hostile move ments of the seven cantons constitut i> Ig the Sonderbund, will attest the accuracy of of ;• obser vation that these suicidal dissensions among the free population of Switzerland have originated in r sligious fanaticism. For the maintenance of a dogs na tic pre dilection, the latter are ready to sacrifice t he mselves in the tempest and the torments of battl , ; for the gratification of a prejudice, the former are e ager to elicit obedience from their fellow -country all 3n even at the point of the bayonet. The one is e sited by the fanaticism of devotion, the other by the fa naticism of reform. Both have drunk deeply of the intoxica ting draughts of egotism ; they are exalted' alike by the delirium of conviction—a conviction t' hat the cause which they severally advocate is the one authorised by justice, required by re; tai )n, and sanctified by Christianity. Such are the passions which have gradually fermented among the peaceful valleys and secluded mountains of the Confe deration —such are the jealousies wl i J s have boefesnarycea h nscouraged and f omen t e d b y the - I asidious agen c i es o f F rance and Austria. The enn tit; y which a rn t firsth displayed it se lf i n a sort of legish sti ve ag aatnlengthp forsaken erati ona nthe develops h a rml e • ; • itself the arming of the citizens and the enroln set It of the peasantry. The gauntlet has been mutua' thrown down and mutually accepted ; and the f rte citizens of Switzerland are harnessed for the struggle—the struggle of creed and discipline, not sharpened by logic, but enforced by gunpowder. Preparatory, however, to the crossing of the swords of the confederates the Diet has assembled and there is an other chance of reconciliation. Would to GOD that the noble propositions contained in the Proclamation of the cantonal authorities assembled together in this Federal Diet could find a congenial response in the bosoms of those to whom they are addressed—the people of Lucerne, of Uri, of Schwyz, of Unterwal den, of Zug, of Valais, and of Friburg ! Would to GOD that the generosity, and wisdom, and modera tion which are combined in that dignified and honour able document to carry reason among the fastnesses of the Sonderbund, could deprive MULLER and Am- MANN, the adventurers from Baden and Thurgovia, of their pernicious and deplorable influence, could snatch the :wand of sacerdotal despotism from the hand of Father Ron - , the Jesuitical editor of the Katholischi Staatszeitung, and, by leading at once to the disso lution of the Sonderbund, conduce to an eternal fra ternization among the inhabitants of Switzerland ! The:spirit of this glorious Proclamation is conciliation; its principle is justice; its end is legality; its senti ments are those of affectionate solicitude. All that is required from Lucerne, Uri, Schwyz, Unterwalden, Zug, Valais, and Friburg is, the immediate disso lution of the Sonderbund, the expulsion of the Je suits from the canton of Lucerne, and the appointment of a general commission for the revision of the federal constitution. That the Government has a perfect right to demand the fulfilment of these requisitions is undeni able. It is empowered, for example, to require the dissolution of the Sonderbund, because the sixth pa ragraph in the Federal Treaty ordains that no single cantons can enter into alliances between themselves pre judicial to the interests of the Confederation, or injurious to any portion of Switzerland. The Sonderbund comes within the meaning of such a separate alliance, and therefore the Sonderbund should be abolished. Secondly, the Government has a perfect right to insist upon the expulsion of the Jesuits from Lucerne, because it should, as the guardian of the liberties insured by the constitu tion, prevent the possible monopoly of supreme power in any political faction or ecclesiastical clique. That such a monopoly would be not merely probable, but certain, in the event of the continuance of the Jesuits in Lucerne, is obvious from the:following considera tions :—ln Lucerne the disciples of LOYOLA exercise supreme cantonal authority ; its citizens obey them with the blindness of credulity and the fervour of fanaticism ; the voice of the Jesuit is the law at Lucerne, and that law is recognised by the seven cantons of the Sonderbund. Besideslthis, Lucerne is one of the three Vororts which, according to the arrangements of the Federal Treaty, are vested in succession with the supreme executive powers of the Confederation. Zurich and Berne are the other two. Whenever the turn arrives for the temporary establishment of the supreme power of the Executive at Lucerne, the will of Father Roil and his monastic associates would act as mysteriously and awfully as that of a RODIN over the length and breadth of Switzerland. Therefore, again, is the Diet justified in demanding the instant expulsion of the Jesuits from Lucerne. Thirdly, and lastly, the right of the Federal Congress to de mand the appointment of a commission 'for the revi sion of the Constitution, is the summum jus of every legislative assembly; and the advisability of such a convocation is proclaimed in an undeniable manner by the miseries which have so long impended over the Confederation and which are now on the eve of bursting forth in the bloody storms of intestine war fare ! Therefore especially is the Diet acting judi ciously when it requires a speedy and comprehensive revision of the constitution. While the envoys of the Liberal cantons are issuing this rational and pacific Proclamation in the Chamber of the Federal Diet at Berne, what are the sentiments entertained, or the advances made towards a reconciliation by the people of Lucerne, Uri, Schwyz, Unterwalden, Zug, Valais, and Friburg,— the vassals of the unconstitutional Sonderbund ? - Unhappily,'there is little probability of any concession on the part of those citizens of the Swiss Confedera tion, who, contrary to the views of the Sovereign PONTIFF, have arrogantly assumed to themselves the title of the Catholic Party—A. Catholic Party being a term as anomalous and contradictory as An Univer- sal Fragment. Whatever may be the consequence a the present negotiations in Switzerland, the Liberal cantons will have the consolation of knowing tha their requirements were just, and their mode of pro. position conciliatory. The gonfalon will in no even! be stained with the infamy of an illiberal aggression. In the sitting of the Swiss Diet of the 20th Octo ber, M. KERN, the Deputy of Thurgevia, as reporter from the Committee of Seven, presented the follow ing draft of a proclamation to the cantons of the Son derbund, which had been agreed on by the Com mittee : " Faithful and dear Federates,—The situation of our country grave, and of a nat u r e to uneasiness. The di v i s i on w hi c h reigns se is s threat ens t o di stur b pub licinspireamong serious though the happy order. Anxious to fulfil the duty which is im posed on it in maintaining the internal security of the Confederation, and penetrated with the sincere desire to preserve peace to the country, the Diet feels itself called upon to address to you some candid and benevolent words of federal friendship. The cantons cannot f orm betwen them " A clear enactment of th e f e d era l pact, article 4, runs thus :—` selves any leagues prejudicial to the Confederation or to the rights of the other cantons.' Now the Go- F riburg, and V a l a i s, have formed a vernments of the States of Lu cerne , U r i , S c h wyz, Un terwald, Zug, peculiar alliance between themselves, which, as soon as it came to the knowledge of the other states, neces sarily caused numerous and serious apprehensions. After repeated deliberations in the councils of the cantons, and in the federal assembly, the Diet has pro nounced that this alliance, which makes the rights and duties, which are regulated in the same manner by the common pact for all the cantons, the object of a separate pact, and thus imposes obligations on some cantons which, in certain circumstances, are incom patible with those which they have to fulfil towards the Confederation—the Diet, we say, has pronounced this alliance to be contrary to the unequivocal letter, as well as to the spirit and meaning of the federal pact. In fact, an alliance which places the contingent of troops of the cantons, which makes part of it, un der the orders of a separate council of war, pos sessed th o e f f f u ed ll e g re e l ne a r u a t l h p o o ri w ty er , s is prejudicial to the first interests of the Confederation, and injures the rights of the other cantons. An alliance which, after the declarations of some of the seven states, is also directed against the Diet itself and its decrees, which organises in advance an armed resistance against it* decisions, cannot continue to exist in the general Confederation and by the side of it, without placing the internal security of the Confederation in danger, and without causing the dissolution of that common tie which unites the federal states. It was for that reason that the Diet, by its decree of July 20 last, declared this separate alliance incompatible with the pact, and - consequently dissolved.' The supreme fede ral authority having thus pronounced its opinion, its decision must be respected by all the states, otherwise anarchy would take the place of right in the COnfede ration. Nevertheless the decree of the Diet has not yet been recognised by the cantons against which it was directed. They have even gone the length of de claring in th e Di et t h at they wou ld o pp ose an arme d resistance t o any attempt to carr y it into executi on , and with this object they have made extraordinary military preparations. The Diet cannot longer tole rate such a state of things unless it annihilates all the consideration due to the federal assembly—breaks the strength of legitimate power—and sacrifices the honour of the Confederation. We cannot, and will not, yet admit that you, faithful and dear federates, will persist in a position irreconcileable with your federal duties, when we shall have frankly pointed out to you the real intentions of our decree of the 20th July, as ought to be done between federates and brethren. Distrust and unfounded fears could alone have led you into the path which you have till this time followed. You fear danger to the liberties which you have inherited from your forefathers—to your future position in the federal alliance, to your faith, and to your religion. But we give you the solemn assurance that any intention of attempt ing to injure these most precious gifts is far from us. They must remain inviolable, as being your sanctuary. how could the federal au thority entertain the design of committing an injustice towards co-states, which for the most part belong to the oldest members of our alliance ? The Federal Diet does not desire the oppression of federates, the annihilation of cantonal sovereignties, the violent overthrow of federal institutions. It de sires no military Government, no violation of your rights and liberties, no danger to your religion. It rather wishes to accord to all the cantons the protec tion which they have a right to demand of their co states against unjust attacks, as the object of common TUESDA V EVENING, OCTOBER alliance demand. It is for that reason, brethren, that you will withdraw from a separate alliance which is not necessary when the dispositions which it contains are in harmony with the common alliance, and which, on the contrary, is inadmissible in federal law when it is not in harmony with it. Do not forget that such separate alliances are already contrary to the sense and spirit of the oldest treaties between the federalists. The present pact guarantees you a suffi cient protection of your rights. Do not persist, then, any longer in a position which saps the basis of federal right, divides the federalists into two hostile camps, and also compromises our independence and liberty abroad. " You now know the motives which determined us to adopt our decree. Federal representatives whom, according to the old custom, we delegate to you, will point out these motives more fully to you. Receive them as friends; listen with confidence to the overtures they will make to you ; weigh well the grave responsibility which will weigh on your heads if you continue to set at nought the resolutions founded on the unequivocal provisions of the pact, and the benevolent warnings of the supreme federal authority. The consequences which, by persisting in such a line of conduct, you may draw down on your selves and on the whole country are incalculable. It yet depends on you to prevent them. Take such re solutions as a sense of federal duty, the peace and happiness of the Confederation, as well as of your own cantons require. As brethren and as confede rates let us only belong to one and the same alliance. What we desire is legality, the maintenance of the internal security of the Confederation and of order. Faithful and dear confederates, let us, like brethren, give each other the hand to attain this object, which is prescribed to us all by the duties which we have sworn to fulfil. May God preserve and protect our dear country." This proclamation, after a long and animated dis cussion, was agreed to by a majority of twelve and a half cantons. The following decree was proposed by a committee, and also adopted by the Diet : " The Diet decrees that the federal representatives who shall be delegated to the seven cantons, in virtue of the decision of the 18th of October of the present year, shall be charged to make to the governments of these cantons the demand— " 1. That the proclamation adopted in the sitting of this day shall be immediately circulated. " 2. That, on the other hand, the authority charged to g ive onarve i o n km s e t od r r u ew c o t vi i toehrnosutto instructeddt e h l e a y D . e pt The thsi support s pfpe o od f re t tr h ab e l yr Det representa tive esonhwtaanl! r tbi e ev p ec r s esentations the contents of this proclamation before that authority, or before the Landgemeinde, if it shall be convoked without delay after the procla mation shall have been circulated, and in general to act according to the spirit of this proclamation towards the authorities to whom they shall have access. " Lastly, they are charged to forward their reports with all possible dispatch to the Diet. If one of the two representatives cannot or will not accept this mission, the present warrant is valid and obligatory for the other member." In the course cf the discussion on the proclamation and the decree, a letter was read from the Government of Berne to :the Directory, announcing that some troops of Lucerne were stationed on the frontier, and that those of the Valais were preparing to pass the mountain of Lunabeh, to march to the assistance of the canton of Friburg. Letters from Argau and Vaud, respecting the movement of the troops of Friburg and the Valais were likewise read, as was also one from Zurich to a similar effect. Another letter of a later date from Argau set forth that the landwehr of Lucerne had been called out ; that a battalion of Lucerne had arrived at the bridge of the Gysikon, and that a battalion of Schwyz was stationed at Kussnacht. A further communication from Berne stated that 2,000 armed men of the Valais had entered Lucerne, and that bullets had been cast in every house in the Valais. The Prefet of Schwarzenberg, in Berne, wrote that the gen darmes of Friburg stopped travellers, and that the road on the Friburg side, in the vicinity of Schwar zenberg, had been barricadoed. In consequence of these proceedings of the Catholic cantons, power was conferred on the Vorort to call out a portion of the general staff, and the Diet nominated federal staff officers. Some sensation was created by the Deputy of Zug, one of the Catholic cantons, stating in its name that it would withdraw from the separate alliance, provided the question relative to the Jesuits should be set aside, and that positive guarantees should be given to the Catholic cantons. He, in conjunction with the Deputy of Basle city, subsequently presented a proposition to the Diet, re quiring, as a condition of the dissolution of the Son derbund, the renunciation on the part of the Diet Of all right to demand the expulsion of the Jesuits. This was rejected, and the Diet appointed M. DUFOUR, of Geneva, Commander-in-Chief of the Federal Army, M. DUFOUR is an old officer of engineers, and is the author of some valuable treatises on for tifications. He was a pupil of the Polytechnic School in its palmy days. M. FREI' HEROSE, of Aarau, was named chief of the staff • . Most of the federal re- presentatives left on that day for the cantons of the Sonderbund, which still continued their warlike pre parations. The intelligence received from Naples says that the Minister SANT•ANGELO still insists with the KING in obtaining a general amnesty, a law on the press, the institution of a National Guard, a separate constitu tion for Sicily, and the suppression of the Department of Police, the latter to form only a division of the Department of the Interior. It is even added that SANT-ANGELO has submitted to the KING the fol lowing composition of a Cabinet :—Foreign Affairs and President of the Council, Prince DE SCORDIA ; Interior, SANT-ANGELO ; Justice, PARISI; Ecclesias tical Affairs, Prince CAMPO-FRANCO ; Finance, MAR, CHINI; Agriculture and Commerce, Prince SANTE. ELES ; War and Marine, DEL CARRETO, from whom it appears that the KING will not separate on any consideration. Piedmont has frankly adopted a liberal system of policy. King CHARLES ALBERT accepted on the evening of the 20th instant the resignation of the post of Governor of Turin tendered to him by M. TRAEN DELLA. TORRE. This functionary belonged to the Austrian party, and has been replaced by the late Minister of War, M. VILLAMARINA. The func- tions of the Governor of Turin are the highest in the State. He is the alter ego of the KING, whose orders he directly receives ; he is, in short, a sort of Viceroy. the e pto oo press ptlhe We are assured that M. VILLAMAILINA accepted those functions on condition that the persons arrested filled of adheredodt during the recent manifestations should be imme granted, and reforms introduced into the Administra diately ibercTajeAidsitLEs intelligenceALßEßT that I b r h t a y idi a b o s those TtAdministra tion.i. conditions.n withK i g joy. Some rioting occurred at Ferrara on the 14th, and the Austrians fired on the people, without, however, wounding anybody. The inhabitants threatened to ring the tocsin, but the Cardinal Legate interfered, and having obtained the liberation of one of the citizens who had been arrested by the Austrian sol diers, tranquillity was restored. The Post-Congress of all the German States, for the purpose of introducing a uniform postage in all the States belonging to the German Confederacy, had opened its sessions at Dresden on the 19th inst., and, according to the papers before us, an expectation was entertained that their deliberations would con clude in fixing upon a low and uniform postage for all the states belonging to the German Confederation. It is the opinion of well-informed people that the arrangement of this certainly very useful and impor tant scheme may take several years before it is carried into full execution. Private accounts from Hamburgh, of the 19th instant, state that the rate of discount had come down to four per cent., and that not the slightest fear was any longer entertained of a reaction from our finan cial crisis. Similar accounts have reached us from Frankfort and Augsburg. Several of the Wuriemberg and Baden papers again publish leaders on the policy and propriety of a divorce between Donna ISABELLA and Don FRAN.. Cisco, and the subsequent marriage of the former with the Conde DR MONTEMOLIN, as the only means of effecting peace in the Peninsula. Madrid papers of the 19th have arrived. The captivity of the unfortunate Queen ISABELLA is complete, and the virtuous wife of MUNOZ reigns paramount in the palace. General DOMINGUEZ has been removed from the post of second in command of the Halberdiers, and replaced by the Count DE PUNON ROSTRO, a tool of CHRISTINA'S. He is vir tually the commander of the corps, as the Duke of BATLEN (CASTANOS), who is the Captain- General, is upwards of 90 years of age. FoLoxoso, the brother- ROYAL SURREY THEATRE. Lessee, Mrs. F. DaTidge, No. 1, Davidge-terrace,Kensington-rsad, Surrey. THIS EVENING, October 25, 1847, the performances will commence with the celebrated Opera or THE ENCHANTRESS Duke D'Aqullla, Mr. H. Horneastle I Don Salvia, Mr. W. Harri son ; Ramir, Mr. Borrani . Stella, Miss Romer. To conclude with Mr. Bann's Farce of MY NEIGHBOUR'S WIFE. Mr. Somerton, Mr. F. Vining; Mr. Smith, Mr. Oxberry ; Mr. Brown, Mr. Attwood (his first appearance) ; Mrs. Somerton, Mrs. H. Hughes (her first appearance these Ave years) ; Mrs. Smith, Miss Xebecca Isaacs ; Mrs. Brown, Mrs. R. Hughes. —Stage Director, Mr. a. Ellis. A disthict entrance to the private boxes has been made (which have been re-fitted). Private boxes may be had nightly of all the principal Librarians ; and at the Box-oflize of the Theatre, which is open daily f) en Ten until Four. Boxes, 2s. ; Pit, Is.; Gallery, 6d ROYAL VICTORIA THEATRE. THIS EVENING Will be presented a new Drama, entitled THE MERCHANT'S CLERK. A Love Story. After which, an entirely new Drama entitled THE BOTTLE, from Crulkshank's celebrated Work of the same name. To conclude with the Ballet of THE FARMER'S MAN. Boxes, is. ; Half-price, 6d.; Pit, 6d. • Gallery, 3d. Doors open at Slx, to comme nce at Half-past Six. ASTLEY'S ROYAL AMPHITHEATRE, Proprietor and Manager, Mr. William Batty. THIS EVENaTG The Grand Spectacle of THE CATARACT OF THE GANGES. Entirely new Scenes in the Arena, by the talented Artines of the Establishment. in the various modes of equestration. To conclude with the Ballet, NOR.AII, THE PRIDE OF KIL DARE. Box-office open from 11 till 5. Acting and Stage Manager, Mr. W West. WEATHER.—SUN OFFICE, OCT. 26. THERMOMETER, Lowest, 36; Highest. 49 ; Noon, 50, BAROMETER, 30.42.—W1ND &S.W.; dull weather. .;14414 WATER AT LONI - DON-ItRIDOE Tiffs DAY. 31orninz.. 13 minutes after 2. I Evening .. 39 minutes altar 2 'rut • , 447 1 e.,.4. ~ . 3fiAL *6' sw•? 10 - ,x,« , x , 4.1.4,- 4 , 1624 „, r . , L 0 -4 " • 1 1' 7,••• C LONDON, TUESDAY. OCTOBER 26, 1847. The Act of 1844 has been weighed in the balance and found wanting. The predictions of the London bankers have been completely verified. That influ ential class (with the single exception of Messrs. JONES LOYD and Co.) stated their apprehensions " that the absolute limitation of the issue to 14,000,0001., without any power of expansion being reserved, whether that amount be in itself a proper amount or not, will create a general feeling of un easiness throughout the country, and by preventing the satisfactory reception of the measure, will deprive the scheme of many of the advantages it possesses and interfere with its success." We believe that few can now be found with sufficient hardihood to deny that it has had that efflect, and that the present panic, which has caused such wide-spread ruin and general distress, has been chiefly, if not altogether, occasioned by the knowledge that no power whatsoever was reserved to the Bank of extending its issues, no matter how great the emergency, or how pressing the necessity for such a step. The Act,is now tel even by the me 'lrorough going bullionists to have proved a failure. It has proved wholly inadequate to carry out tht-objects for which it was enacted, and the Act of 1819 will be abrogated in consequence of the injurious working of the subsequent measure, wilich was passed in order to guard against the possibility of any dereliction from its principle, ‘io secure its perma• nence and perpetuity. The repeated fluctuations in the value 'f money, the periodical depreciation in the price of prcrluce and property of every description, proved the injustice and impolicy of that Act, and the accuracy of the opinions of the merchants of London, embodied in their petition to the llouse of Lords against the resumption of cash payments, to which Wstreing y referredenc in Th e S un L ast week ; but the increased of the Act of 1844, which imposed further restrictions upon our trade and commerce, and cast additional impediments in the •wa3 of thc. P p . roductive classes, avert e d t h e possibility of : tat reel which alone pr eserved the credit f d the nation f in 1825, s a y n s d te l m i a . s I Theed, A we cbteolifelvBe,l9toprtehveenteNvd n th al of the . entire g t possibility of miPrgohst reaysontal lyacht.ave our attaining that permanent lw e under wiser monetary aspired, but the Bank, by bold and vigorous which, was enabled to prevent the fatal results that mighnt, otherwise have ensued. True it is, that the principle of the measure might possibly have been endangered thereby ; and in 1825 it was by the merest chance that the Bank was enabled to maintain its cash pay ments ; and the country was within twenty-four hours of a state of barter. The Act of 1844 deprived LONDON, 26, 1847. It was stated in Paris that NARVAEZ had written a very obsequious letter to ESPARTERO, offering him the Embassy to London, and that either GONZALES BRAVO or MARTINEZ DE LA Rose would be the new Spanish Ambassador to Paris. The French Three per Cents. were done on the Passage de I'Opera, Paris, on Sunday, at 75f. 40c. BUSINESS DONE IN FOREIGN RAILWAYS AT THE LONDON STOCK EXCHANGE, OcroBEE. 25. Orleans and Bordeaux, 3%—Paris and Lyons, 4%—Paris and Rouen, 34%. MARKET NEWS.—(THIS DAY.) RAT MAIMETS. S3IITHFIELD. Meadow Hay, 21 83 to 3/ 13s; Clover ditto, 31 8s to 41 15s; and Straw, 1/ 7s to 1 / 1 08 per load. Trade dull, at barely last week's quotations. CUMBERLAND. —Meadow Hay, 2 / 1 0s to 3115 s ; Clover ditto, 31 8s to 41 12s; and Straw, 11 9s to 11 12s per load. A moderate supply, and a sluggish demand. WHITECIZAPEL.—IIeadow Hay, 21 8s to 3/ 14s ; Clover ditto, 318 s to 4/ 163; and Straw, 118 s to 11 lOs per load. Supply good, and trade dull. COLONIAL. SUGAR.—An improved feeling has prevailed in the market for British Plantation, and 200 hhds have changed hands at fully previous rates. The public sales have brought forward 3,200 bags, 120 tierces, 210 casks Mauritius, and 800 bags Bengal, which sold with s pi r i t , part i cu l ar l y t h e Mauritius, on which an advance of fully 6d per cwt. was established, the prices realised being 27s to 33s for very low to good brown, with grey and yellow at 33616 d to 37s 6d, according to quality. Bengal brought 398 to 42s for low to fine yellow Mauritius kind, which are steady rates. Privately, a cargo of mid yellow Ha vannah, of about 1,100 boxes, were sold afloat, at 23s in bond, for a near port. The quantity of British Plan. tation landed last week at . the East and W est I ndia Docks was 1,601 hhds, 101 ti erces, 369 barrels. Th ere were taken for home consumption 1,357 hhds, 113 trcs, 296 barrels. The stock in the same places is 21,264 hhds, 2,563 tierces, 5,804 barrels. Cocos.-329 bags Trinidad at auction were nearly all withdrawn from 42s to 46s for ord grey to good mid red, being above the market value. RUM.—The quantity landed last week at the East and West India Docks was 1,180 puns 17 hhds; there were taken for home consumption 357 puns 87 hhds, and exported 68 pans 43 hhd s . Th e stock in the same places is 13,572 puns 1,446 hhds. RIcE.-1,397 bags Madras at auction were all disposed of at 10s to 1 ls 6d for cargo to mid.white. SPICES.-923 bags Black Pepper were withdrawn at 2id for fair Batavia kind, being above the present value. TALLOW.—P.Y.C. is 44s 6d to 45s per cwt. on the spot, and Town, 48s. TEA.—The market is ra, for consumption have not b( COAL AIARKE' Adair's Main ...... 17s Od Bate's West Hartley 18s 9d Buddle's W. Hartley 19s 3d Charlotte .. ...... 188 3d Chester Main lBs 3d Davison's West Hartley 19s 3d, Hasting's Hartley l9s 3dl llolywell Main ..... 18s 6d New Tanfield l6s 6d North Percy Hartley lBs 9d Original Tanfield l6s Od, Ord's Redheugh Ravensworth's Pelaw l6s 6di Tanfield Moor ..... 18s Od Townley l7s 6d West Wylam West Hartley Wylam her quiet, and the deliveries een so large. T.—YESTERDAY. [ Eden Main I Braddyll's Hetton I East Hetton Haswell 2ls Od Hetton Keepier Lambton Lumley l9s 3d Morrison lBs 9d Murton Russell's Hetton Shotten Stewart's .. Whitwell Cassop. .. . ... 2os 6d' Hartlepool 2os 9d Hudson's Hartlepool... 20s Od High Thornley Kelloe 2os 6d Adelaide Tees Denison l9s Od South Durham 195 Od Seymour Tees Tees Thirslington Wall's End, &c. Bell and 8r0wn......, 193 Od Bewicke and Co l9s Od Brown's Gas Clarke and Co. Gosforth l9s Od Heaton Hedley Killingworth l9s Od Northumberland Ramsay l6s 6d Riddell's l9s Od Cornforth • ......... 19s 6d Blaengwatir Derwentwater Hartley 18s 9d W. Hartley Netherton 198 3d 237 arriva i-202 sold. FALL DOWN OP A CHIMNEX.—At five o'clock, on the afternoon of Saturday last, a serious accident hap pened on the works of the Huddersfield and Manchester Railway at Huddersfield, by which the lives of two workmen were nearly sacrificed. About half a mile from the town, on the Cooperbridge branch the com pany are erecting large and commodious engine -sheds for the locomotive department, an d attached to these is an engine-house with a tall chimney, thirty yards high, the masonry of which had been raised by scaffolding fixed inside, and which was on the eve of completion at the above-named tim e , an d two masons were suspended inside the chimney, preparing for removing the scaffold ing, when the crossbar of wood, by which the teagle was suspended broke in two, and the y fell to the bottom, a distance of twenty five yards, breaking in their fall the timbers by means of which the structure had been raised. They were taken up literally broken in pieces, in both cases their legs, thighs, and arms had received compound fractures, and they now lie in a very pre carious state at the Huddersfield Infirmary. CANADIAN PRODUCE.--A vessel, named the John Mann, arrived in the West India Docks from Quebec, has brought, in addition to a cargo of deals and other wood goods, 29 kegs and 8 casks of Terrabinthina Cana densis. This would appear to be a somewhat novel and remarkable importation. We are not aware of the qua lity or character of the article so designated, and brought from this British province of North America. In consequence of the deranged state of the money-market, and the general scarcity of the circulat ing medium, a large number of building operations, in h and near have been suspended during the last fortnight.te metropolis, in-law of MuNoz, is appointed Captain-General of Madrid, and MUNOZ himself is, it is said, to be Mi nister of War. General ESPELETA has been ap pointed Governor of the Canary Islands, to make room for General MONTERO as Deputy-Commander of Granada, and the Marquis of MIEAFLORES super. sedes the Count of SANTA COLONNO as First Major- Domo of the Palace. SERRANO is at Arjonilla, near Andujar, his native town. General PORTILLO has been arrested and sent from Madrid. MADRID BOLSA, OCT. 19.—The Three per Cents. closed at 27, at 50 days ; the Five per Cents. at 164 for paper; the Debt without Interest, at 5/ ; and the Coupons, at 13. We have received the Paris papers of Sunday. Th• mild and conciliatory proclamation addressed by the Diet of Switzerland to the rebels of the Son derbund is the subject of praise in all of them, save in the _Wats, and that journal, unable to find any fault with the proclamation itself, is reduced to the necessity of calling it a lying piece of hypocrisy. The National, in the course of an article on the appointment by the POPE of the Council of State, warns its readers that this Council must not be con founded with a representative assembly—that it will have the power of advising only, and not of deciding that Pius IX. remains still an absolute sovereign, and that if his successor should favour a retrograde action he Council of State would be no embarrassment to him. In the Bien Publique of Macon, M. ALPIIONSE DELAMARTTNE has published the following pro gramme of the reforms demanded by that section of reformers of which he is the representative : " The sovereignty exercised hy the people ; the electoral rights extended to all citizens; primary as semblies nominating electors for a temporary func tion ; electors nominating representatives for a li mited period; representatives, not delivered to the mercy of the corruptions of ministers, but paid by the people, to remove every pretext for their ser vility; functionaries at their post, and not in the Chambers, where they play two parts quite incom patible—that of persons controlling and persons con trolled; no other law is required to exclude them, that is quite sufficient; a national assembly; minis ters named by ballot by the majority, which the Chamber gives them or takes from them; the dynasty without any other privilege than the throne; the King inviolable ; the princes, simple citizens ; a real liberty of worship by the separation of the church from the state ; liberty of association and of voluntary retribution, as the only budget of men's consciences when thus disenthralled; absolute liberty of instruc tion, with the exception of that surveillance of morals which the State ought never to give up; liberty of the press, by the revocation of the laws of Septem ber; the security of the seat of the national as sembly guaranteed by a prudential law against any abuse of the fortifications of Paris; a permanent army and an army of reserve; a fair and just law equally distributing the charges of recruiting; peace, but France in her proper rank in peace as she was in war; France, the natural and avowed ally of liberty of ideas and of liberty of nations throughout the universe ; abolition of slavery wherever the French flag floats; the organization of gratuitous instruction for the people on the largest basis; progressive free trade ; social fraternity in principle and in the institutions ; living rendered cheap by the reduction of the taxes which press so heavily on articles of food; a poor-rate, notwithstanding the calumnies with which cvrtain political economists en deavour to discredit that institution ; foundlings to be adopted by the State, and not flung back to death by an investigation into the circumstance of the birth, and by the closing of the turning baskets ; the extinction of mendicity, asylums for the infirm, and public workshops for those in health ; social charity promulgated in numerous laws to aid all the wants, all the sufferings, and all the miseries that fall to the lot of the people ; a fixed sum given away each year as the liberality of the State; a new office of Minister of Public Benevolence; a minister of the people's living, &e.,—let the Government enter on this course of action, and we will follow it freely, without asking whether it wears a crown, , a tiara or a hat." ford Junction Birmingham, 'Wolver hampton, andiDudley 10 ..... Birming.,Wolverh'pton, and Stour Va11ey..... 8 6 Birkenhead, Lancashire, and Cheshire June.... 61,4 Boston, Stamfd, & Birm. 5 Bristol and Exeter 75 Ditto, Thirds Buckinghamshire Bl. 4s. — ...... Caledonian . ,7h Ditto, Half Shares 3 3 /4 -- Ditto, Clydesdale J une 40 ...... Chester and Holyhead... 37 1 ,4 Ditto, Preference Cheltenham and Oxford 2 Clarence 78 Do. Ist Class, 6 per Ct. 1014 Do. 2d Class, 5 per Ct. 10 ....-- t, o pt. Do. Government Lo, Jan, 4 per Cent. Dundalk & Enniskille• _...—il l en 15 East Anglia, 25/., L. & E. and L. and D....... 25 ...... Do., 181., E. & 11.... 18 Do. ' 31.10 5 ., E. &H. 1 Eastern Counties 2O ...... 16 16 1 / 2 X% :Ditto, Perpetual, 5 per Cent, No. 1....... 61.135. 4d... u dia Ditto ditto, No. 2... Gl. 13s. 4d... Do., York Extension.. IA ...... 7% Do., North. & Eastern 50 ..... „ Do., Quarters Do., New 23 Eastern Union 5O .. Ditto, Quarter Shares 12 1 A — Ditto, Thirds ... ..... I3s. 4d — Ea:A Lancashire Ditto. New Do., do., Exten. S cr ip 1 1 ,4 East Lincolnshire Edinburgh and Glasgow 50 ...... Ditto Half Shares ... 15 Ditto, Quarter Shares IN --- Edinburgh & Northern.. 20 Ditto, New Ditto, Newport ..... ... 7 Ditto, ditto, New 11, 16!‘ (Ifs 49 ...- _ '' - • •••• ...... Edinburgh and Perth... 2 Ditto, Extension Exeter,Yeovil,& Dorch. 2% Ditto, New ... ........ 2% — Glasgow, Duinfri, ,d ~ _ les, and Carlisle Bl. 6s. 8d Glasgow, Kilmer., & Ayr 50 ... Ditto, New Do. Preference Consol. 12%...... Great Northern a Do., London and York 24..... Great South. and West. - lan-'s kirei.zd) Great North of England-IGO .217 218 Ditto, New 404 5 Ditto, New 30/. BO Ditto, New 15/ .. l% — .. Great Western B5 lO2 .. Ditto, % Shares.. .50 Ditto, - 1 4 Shares: : ls Ditto, Fifths Ditto, New 171 Huddersfield & Mooches. 22 ....... ....• .. Ditto, Thirds Hull and Selby 5O ... 9 97 ......•• Ditto, Half Shares 25 .... Ditto, IA Shares......, 12% . "'. ..... Ipswich &Bury St. Ed m. 15 . ..... 8 7% Do., do., and N orw i c h l b — Do., do., Extens.Scrip (late Camb. & Ely)... 2% - Ditto, Third 5......,.. . 10 Lancashire (& Yorkshire 82 Ditto I ,‘ Shares . ... 38 ...... 38 36 Do. Quarte r Sh ares... 14% ...... 1.3% Do. Fifths - ••• 6 % 7 Do. Sixteenths OA ...... Do. Thirds (Reg.)....104 45..~ ... Do. Liverp. and Bury 34 Ditto 4 (late Hud dersfield and Sheff.) 33 ...... Do.( Wakefield, Ponte fract, & Goole ..... loh 1 Do. (W. Riding Union) 41 . 2 4 2% dis l'33 Do. (Preston & Wyre) 25 1% Do. % Shares (A) 9 ...... 11 3 / 1 4 lli Ditto ditto (B) ... 14 ..... _. 6 Leeds and Bradford .... Leicester and Bedford... 16s. .-- Leeds, Dewsbury, &c.... 371 ....., Do., Branch's Shares 12' 4 6 — .-- Do. New Branch( bl ue ) 2% — ..... ....• Do. Extension (green) 2%.. ... _ •••• ...- Do. NewExten. (pink) 2% Leeds and Thirsk 3l Ditto, New l7l - ... ..... .....• ~. Do., Prefer., 6 p er C t. 3% Liverpool, Crosby an d . Southport .-- .... .... ...... 2 Liver ""•""• p., Mnchstr& New _._,. castle Junction London and Blackwall..l6/. 13s. 4d. 5% 4. ....... ... Do. New, No. 1 Do. New, No. 2 .. 3/ 13s. 4d.... Do. Extension......... 15 ...... London, Brighton, and South Coast ............ 50 Do. Consol. Eighths.. 20 Do. Guarant. 5 --- per ct. 9 ..... Do. Pref. Con. 5 per ct. 50 London and Greenwich 12115 s 4d — ............... ....... Ditto, Preference ... 1 8 / 1 ;a 2d — ............... 10 5 London C 4114 Ii , Weitern'lo3 ~., I,§o 153 150 114 MONEY and COMMERCIAL L" CITY, QUARTER TO THREE. The sales of C o tt on a t Li verpoo l yester day were 2,500 bales, with ou t any c h ange i n pr i ces. Railway shares were quiet. To the exclusion of every other topic, people are O w inquiring what will be the effect of the Government measure. We incur but little risk in boldly asserting that it must prove highly advantageous. We are /;.° sticklers for the rate, an d great l y as we regret that Sue measure was not sooner adopted, it may ultimately be ll ; well that the Peel Bill has been fully tested and fo und wanting." Partisans and political economists ha l l confessedly but little " heart," and against the sappe r. of a favourite theory, the prostration of a score of In er : : cantile firms is as a mere f eat h er i n t h e balance. The:: scheme of '4l is tried, and l e t us h ope i t ma y be the last they are permitted to t orment us w i th, ex cept 4.- print. The following observations from the circular of 1 Mincing-lane broker, written antecedently to the 60.. vernment announcement, are worthy of perusal :--- of " Any attempt t o es ti mate t h e extent and durstled the present com merc i a l p ressure, i s necessarily eenundi. by the very limited information at the command of in r vidual members of th e commun i ty . T here are, hovves" some elements publicly k nown w hi c h may b ecome AY able in the computation. " The diminished price of many imported art icle*+ . though a loss to merchants, has been a ga i n to the el, munity. The depreciatio n in the price of Railwer" to vestments and of Government Securities is only a 109 3 ._ sellers ; the buyers ga i n i n exact l y t h e same pro porl as the others lose. I n lik e manner , t h e hi gh pr i c es P i tli to to agriculturists by genera l consumers, have adde d their wealth in the same proportion as that of the CO sumers has been diminished. "In summing up these considerations, we °bier; that the failures which now occur, and w ill occur d some time are the results of disasters already PA 7 / 4 pretty well estimated ; that these results are runcl„, themselves out slowly but cer t a i n l y ; t h at t h e ressc," 6 , why mercantile houses c anno t o b ta i n usua l accounec%, Lion exists, not in absolute inability to afford it, but the doubt whether advances will be repaid at the a l pointed time ; that a b un d an t cap i ta l ex i sts f or c arryj on the business of th e country on t h e most e xten d scale and in the most legitimate manner. r es " There is no un f avoura bl e react i on upon exeu l4 , „ 7,„b likely to arise from a n y new i mportat i ons of corn, yr' are neither needed nor expected to take place. " The accounts rec e i ve d f rom A mer i ca must be e a rl° sidered favourable; there was neither s t r i ng ency 1 1 , uneasiness, but, on th e con t rary , money was plea 64 and discounts moderate." thit Money is already easier i n th e Cit y generally; r is, people can obtai n it on f a i r secur i ty at 7 o r 8 Per cent., when it was not to be had at all in any en l°t/° last week. The produce markets also feel the favourable influe of the 'restoration of confidence. There has been a most decided improvement to't in the value of the P u bli c S ecur i t i es, wh i ch are lilt to settle down somewh a t near t h e value w hich credit of the country should give them—a duo Pr° l3°. , tion they must nece ssar ily b ear to the rate of 111n-oel out of doors. Co nso l s h ave b een 83 to 84i for Trans f e r , and 83i to 84i for Account. Exchequer bills have b e : o p 21s. to 15s. di scoun t. B an k Stock has real i se d I°' to 185. There has not been much doing in the Fc re ,,, ig° Market. Portug uese F our per C ents. are 22. 3 1°1— ru i tch are 17 to 3-, Spanish Thre e p er C ents. 27 1 to 2 8. Four per Cents. are 814. The business done in Railway Shares has not bees extensive, but there is a decided improvement in Pri ce9. o ONE PRICE WC'S OF BRITISH FUNDS. O'CLOCK. 18 5 Bank Stock 3 per Cent. Reduc e d A nna 82 82% % % 3 per Cent. Consols Annuities 8 3 1,2 83 84% 3 New 3 1 4 per Cent. Anna.. 831 001 , R4l/9 8 - - A 84 8 0/4 - 8 ' 8, Long /Gin's. to expire Jan. 1860 ... 8%% 8; Ditto 30 years, Jan. 5, 1860.... 8 9-16 % 22 8 India Stock India Bonds, 1,0004 Ditto under 1,0001... ._. .20 dis 88% Consols for Account 83% 84% 83 3 / 84% 84 Exchequer Bills. 3d. 19 6 ' 1,000/. 500/ Small ONE OS CL ,111 cRICES OF FOREIGN FUNDS. O'CLOCK PR C 2% Equador Bonds 17 Mexican, 5 per Cent. 1846 17% 17 ..„. Portuguese 5 per Cents. —2/ Ditto, 4 per Cent — 22, Ditto, Account 22 104 1 y Russian Bonds ..... lO4 ..... Spanish 5 per Cent. 1840. 28 Ditto. 3 per Cent 27% 28 Dividends on the above payable in London. , Dutch, 2% per Cent., 12 Guild — 81 / 4 Ditto, 4 Der Cent. Certificates 81! e f mime OP A T ., BUS/NESS DONE CLOS 1 01 „.# RAILWAY SHARES r."'" AT ONE O'CLOCK. F RIC' Aberdeen Amber., Nott., Boston, and Eastern Junction 2%...... 1 Ayrshire and Galloway.. 2% .-. Belfast & County Down 10 ...... Birmingham and Ox- .... •.•.•••»• 'J 3~ i'lli 1% -- 2% -- 6 16 6 102 18 244 97 48 iii iN 36 101 ...0 51,4