The Northern Daily Times. — Liverpool, Merseyside, England, 1856-02-18 00:00:00

Commercial i‘waless. THIS DAY THIS DAY, 18th instant, at a Quarter to Eleven o'clock, at the Brokers' office, 11, Temple- court, 100 Boxes St. Michael ORANGES, ex Daring, 250 Do. Messina DITTO, 1 ex Euphrates. 5 300 Cases Do. LEMONS, 50 Boxes Lisbon ONIONS, ex Minho. 50 Casks Leghorn CHESNUTS, ex Maria Spes M ea , 100 B ags 10 Ba , "10 B 7 reli FORBIDDEN FRIT undies TO MORRO iro BASKETS. HOUGHTON & TO-MORROW ,ccount of whom o'clock, at Messrs. Golding and Na; tVY, Brokers Half-past ex Windermer 'a saleroom, Corn ge, Brunswick-street. s Damaged WHEAT ii; and WHEAT, ex Curri Messrs. rticulars apply to & M. HARNETT, Brokers, On accon -16fOltROM E'-past On o'clock, at Messrs apply to About 674 from New Or' nt of whom it may concert Exchange, I About 10,000 Bush ex James Rowan, from Montreal —For K. Dowie and Co., Merchants, or to J. & M. HARNETT, Broker articulars On account of whom it may concern. To-monnow ' the 19th instant, at Half-past One o'clock, at Messrs. Golding and Nash's saleroom, Corn 00 Bar: In Columbia, from New Y About 95 Barrels Stained ex Columbia, from New York ged FLOUR, —For particulars apply to M. HARNET r, Brokers On account of whom it may concer To- MORROW, Messrs. Go o'clock, at at Half-past One ling and Nash's saleroom, Corn Exchange, Brunswick-street, About 600 Quarters Damaged WHEAT ex Clangregor, from Calcutta.—For particulars apply to ROBERT CHRISTIE, Jurr., Broker, TO-MORROW, the 19th instant, at Twelve o'clock, at the Brokers' office. 16, Fachange-buildings, 300 Tons Upper Peruvian GUANO, ex Victoria; lying in Rogers', 256, Formby-street. Apply to J. H. RAYNER & CO., Brokers. On account of whom To-mORROW, the 19th int, t may , concern t, at Half•paat One o'clock at the Broker's office, 10, Brunswick-street, About 1600 Quarters of Yellow INDIAN CORN , ex Criterion, from New York.—Apply to WILLIAM PARKE, Broker, WEDNESDAY On WEDNESDAY next, the [start, at Tw at the Broke sea LIQUORICE PASTE, ►o. DITTO JUICE. landed ex Oleaga and ( Mercha' a.—Apply to Messrs A. & S. H. SLEIGH, Brokers THI ANNUAL SUBS CRI PTI 0 DAILY TIMES Is TWO ro THE NORTHERN UINEAS PER ANNUM. EVENING EDITION or An _Evening Edition of the NORTHERN DAILI TIMER it now Published every Afternoon, at Three o'clock, containing the Markets, together with an the News of the Pay, up to the hour of going to Press. Eanty DELIVERY OP THE "NORTHERN TIMES."—Any subscriber within four miles of the Liverpoll Exchange, or at Rock-ferry, Trairnere, Birkenhead, Woodside, Oaton, Clanghton, Seacombe, Egremont, or New Br ton, whi does not receive RTHERN TIMES. Eight o'clock will obligethe publisher by addressing a note to him at the office notifying the fact, in order that the cause of complaint may be investigated and removed. As our messengers commence their delivery at five o'clock on each morning, it would greatly facilitate its completion if T-boxes lay an disappoin FRENCH FIRST EXHIBIT SCHOOL of the FINE MAD'LLE NRTS in Liverpool, in ROSA BONHEITR'S GREAT "THE HORSE FAIR," Is NOW OPEN at the place, Church-street. men's Season Tickets, till Five o'clock. 'erpool Academy Rooms, Old Post-offici Ladies' D Catalog' o, 3s 6d —Open from Tel B. FRODSHAM, Secretary kort4rrn firm MON - DAY, FEBRUARY 18, 1856 " PiatcEs are low. Trade depressed. The Bank of India has declared a dividend of 20 per cent ! " Such was the substance of the intelligence received from India by the last Overland Mail, and we woul d ask, what prospect is there of that country's pros pering where the usurer is allowed to walk off with dividends far greater than the average profits of the producer and trader can be ? A writer, in the Edinburgh Review, of July last, quoted a passage from The Life of Metcalfe, which formed a portion of a speech delivered by that high minded states man on usury, in India ; who said "he found not merely the normal state of affairs in the Nizam's " Court and country, corruption and extortion, the " most atrocious mismanagement, and consequent " anarchy—for all of which he was prepared, more "or less—he found what was far worse, British " subjects, and those not solely persons uncon " netted with the public service, engaged in the " illicit and' unrighteous trade of the Hyderabad lenders, exacting from a miserable people " money- " interest at the rate of 25 per cent, and backed to `` a lamentable extent by the highest authority in " India." Her^ * ^of what is called " British goner a pictu: ern progress What nation can Local interest, added to exces such is En ate rates of ye taxation ? Whereverour flag waves, usury has been suffered to raise its head. The natives of India, the long established colonist, and the newly arrived emi grant,in one and all of our transmarine possessions, are subject to pretty much the same oppressive system of exaction. In the mother country, or seat of Empire, with all our panics, sudden suspensions of eniploYment, contraction of the available means of trade, increased State taxes, and local rates, we are infinitely better off than those who fly to the forests of Canada, th e j ungles of India, or the plains of Australia, in search of a fairer field for their intelligence and industry. Those evils which banish our most valuable citizens pursue them to the remotest parts of our dominions, and bankers may now boast of profits which the law denies to the pawnbroker The theory of money restriction, which was confined for some years after its promulgation to this country, is now in full operation throughout the British Empire—a result which we would fain believe was never anticipated by its authors, or by its most earnest supporters. They could never have hoped for the arrival of a day when banks, throughout our productive pos sessions, would be deriving 20 per cent. profits from depressed trade and low prices No sane or patriotic statesman would have opposed such a system to the peace and prosperity of our_ wide spread dominions. Th ere is no such thing to be extracted from the soil, o r from man's industry and intelligence, as a clear gain of 20 per cent. per annum. Such returns can only be derived from money lent at usurious rates of interest. Money, instead of coming to the aid of, civilization, must, therefore, at the pr went aunt be swallowing up the entire production of and producing universal misery. In dealing with such gigantic evils and dangers, we have nothing whatever to say to theory, such as whether the notes of this or that bank should be Legal Tender, whether our paper circulation should be convertible, or whether a metallic basis is required to preserve our Currency from deprecia tion. All Parliament and the people have to look to are the broad facts that the rates of interest, throughout the British Empire, range from 6 to 25 per cent., and that money, even at these ancient Hebrew rates, is not obtainable, upon the the Empire best security and for the most legitimate purposes, to one-half the extent required. We have, for the moment, given up contending for what a large portion of our readers conceives to b 3 system, but r cease to point out the danger and n our monetary caving this country, with her Indian and Colonial possessions, without a sufficient n. other money to employ labour ind reward intelligence. Parliament before it fidelity of nt of Stat is bound to see that the subject ha wherewith to pay them, and how can they have money for the calls of the State with prices low, le depressed, and usurers demanding 20 per nt profit Our rulers profess to be very anxious to encour age the growth of cotton, tea, and sugar in India, succour the Wes India planter Austulia, and to place Canada on a level with the States in railways, trade, and commerce. Still, they tolerate rates of dis count for money required to carry out their paternal views, such as the Nizam court could not exact from its subjects, without producing anarchy and bloodshed, and which a Turkish Pacha could scarcely demand without a blush ! Yet, our Nizams and Pachas are by no means apprehensive. They deny that it is possible for a wild spirit of dis content to pervade the whole of our Empire. They cannot persuade themselves that India will endea- your to shake off the incubus ; that Australia will protest against usury, and the sudden and pro longed prostration of her trade, to meet our monetary crotchets; or that Canada will not dis cover the glaring imposture of banking and currency restrictions. Our people at home will one day see through the startling absurdities nployed in defence of those restrictions which to banking usury, and end in the wide )read ruin of the trader and merchant. ad on When Mr. MUNTZ brings forward his motion, on Thursday next, for a select committee to enquire ho far the present monetary system accordance with the requirements of the mntrv, and to consider if it cannot be improved "hP IGI to hP rrnrulcarl by 41in ancrnrrt • we s all then have the old story of ntraction with its advantages competition with its innum rather hear from the lips of the living some acknowledgement of a salutary reform in the law. We would rather hear the poor man say he could recover a debt—the orphan, that he could get his mite—the valued friend his legacy—the widow her portion—the assumed lunatic his liberty, and the houseless pauper his legal rights—than that Eng land's wise and just laws were all embodied in two or three volumes for the special convenience of the bench and the bar. Mr. NAPIER has mistaken the objects of the Law Reform agitation, and the peculiar wants and characteristics of the age in which he lives. He has not the national weakness of blundering in his speech, but he evidently flounders most strangely in his conceptions. The world, how ever, is getting too old to be caught with " chaff ;" and England's instinctive love of even-handed jus tice is not to be perverted, by the highest order of oratory. Parliament only requires to be made aware of that of which the public complain so justly ; and the SOVEREIGN herself only needs to be made familiar with those abuses to which the subject is exposed, to see their removal. We want no Minister of Justice, or additions made to the Cabinet, to tell Parliament what laws they should pass, or to inform the judges what is law and equity. The country will, therefore, with Mr. NAPIER'S permission, wait until the force of popular opinion has convinced our legislators that the whole community is alive to the dangers which surround property at the present moment—the insurmountable obstacles thrown in the poor man's way of obtaining justice—and the intolerable abuses which have grown up in our iniquitous system of administering law in our Chancery Courts. A few month's more exposure to the light of day, will bring about the changes the people seek ; and for so short a time we can stagger on without a Minister of Justice, whose special pro vince would, it appears to us, bo to confound that confusion which mock-Law Reformers would have us to believe is inextricable. It is the property c lasses who aro now becoming alarmed at the state of the law ; and when they seek relief, the poor man must obtain equal rights and redress. THE COURT The Earl of Clarendon bad an audience of the Queen, on Friday, at Buckingham Palace. Lord Cowley had also an audience of her Majesty. Prince Albert rode on horseback with the Prince of Wales and Prince Alfred, attended by Captain Du Plat and Mr. Gibbs. Prince Leopold visited the Duchess of Gloucester at Gloucester House. Her Majesty and the Prince honoured with their presence. in the evening the performance of the oratorio of Eli, by the Sacred Harmonic Society, at Exeter Hall. The Prince of Wales, the Princess Royal, Prince Alfred, and the Princess Alice accompanied the Queen and Prince. SATURDAY, FEB. IG.—The Queen walked early in the garden of the palace. In the forenoon her Majesty, attended by the Hon. Miss Bulteel, maid of honour in waiting, rode on horseback in the riding school. Thei r Royal Highnesses the Princess loyal and, the Princess Alice also took equestrian exercise in the school at the same time as the Queen. Prince Albert rode out on horseback attended by his equerry in waiting. The Prince of Wales and Prince Alfred walked out in the afternoon Mr. Gibbs, the tutor of the Prince of Wales was in attendance. Their royal highnesses rode on horseback in the forenoon. At four o'clock her Majesty and his Royal Highness Prince Albert left the palace in an open carriage for a drive, accompaniel by the Princess Royal and the Princess Alice. The equerries in waiting were in attendance on horseback. In the evening her Majesty had a dinner party, which consistedlof their Royal High nesses the Duchess of Cambridge and the Princess Mary, the Turkish Ambassador and Ambassadress, Dervish Pasha, the Minister from the Hanse Towns, the Marquis of Lansdowne, the Countess of Desert, the Marquis of Breadalbane, the Hon. Miss Byng, the Hon. Miss Bulteel, the Earl and Countess Grey, Lorl Panmure, and Lieut.-gen. Sir George Bowles. CABINET COUNCIL.—The usual meeting of Min isters took place on Saturday afternoon at the Foreign Office. The time of the summons was two o'clock, but it was near four before all the Cabinet were assembled. The Prime Minister arrived at the Foreign Office a few minutes before three o'clock. All the ministers were present, with the exception of the Foreign Secretary, who had taken his departure at a very early hour, to be present at the Paris Conferences. The Council sat a considerable time in deliberation. Lord Palmerston gave a grand dinner on Saturday evening, at his resi dence in Picadilly, to a numerous party, chiefly members of the House of Commons and official personages. The queen has been pleased to approve of Mr. Jacob Willink as consul at Liverpool for the Free Hanseatic city of Hamburg. ESCAPE riot SLAVERY.—The Asterian, Captain Gay, arrived in this port on Saturday evening, from New Orleans On overhauling the ship as usual, one of our customhouse officers discovered a slave girl concealed in the boatswain's hunk, where she had been fed and taken care of by the gallant tar, unknown to any other individual on board. Previous to the ship leaving New Orleans, a reward of 500 dollars was offered for the apprehension of the fugitive, who was safely landed from the vessel Sunday afternoon. TEE MILITIA.—The following appointments and pro motions appear in the Gazette of Tuesday last :-Ist Regi ment of the Duke of Lancaster's Own Militia! John Paris Bradshaw, Gent., to be Ensign ; Feb.ll.-4th or Duke of Lancaster's Own (Light Infantry) Royal Lancashire Militia —Edwin Richard Lloyd, Gent., to be Ensign ; Feb. 11.- sth Regiment of Royal Lancashire Militia : Henry Drury, Gent., to be Lieutenant, vice Lomax, appointed to the 3rd Light Dragoons; Ensign William Henry Ogden to be Lieutenant, vice Ford, appointed to the Scots Fuiilier Guards ; Ensign Sumner Mitchell Sumner Brockh nrst to be Lieutenant, vice Brockburst. appointed to the 53rd Foot ; Robert Hall, Gent., to be Ensign, vice Ogden pro moted; Francis Ironside Rawlins, Gent., to be Ensign, vice Brockhu-st, promoted ; Feb. 11.—Royal Lancashire Militia Artillery : Second Lieutenant James Sothern to be First Lieutenant, vice Lynam, appointed to the 10th Foot ; Feb. 11. PUBLIC LIBRARY AT BIRKENHEAD.—A public meeting of the inhabitants of Birkenhead was held on Saturday evening, in the Town-hall, for the purpose of taking into considera tion the propriety of adopting the provisions of the Free Public Libraries Act of 1855, for that township. Mr. John Laird, chairman of the Birkenhead commissioners, was called upon to preside, and there were also present many of the leading and influential gentlemen of the town. Mr P. M. Dove, after an eloquent address, in which he showed the benefits that were to be obtained by the working classes from the establishment of such an institution, moved a re solution to the effect that, in the opinion of the meeting, it was desirable that a free public library should be opened in the township, under the direction of the commissioners. Mr. J, Green, as an amendment, proposed that the subject be not entertained ; but there being no seconder, the amend ment fell to the 0-round. The meeting was afterwards addressed by Mr. Harrison, Mr. Bailiff, Mr. Townsend, Dr. Walker, and Dr. Baylis, all of whom warmly supported the proposition moved by Mr. Dove. The motion was then put to the meeting by the chairman, and was carried almost unanimously. A vote of thanks was passed to the chair man, after which the proceedings terminated. LMINCH.—A splendid new ship, named the " Aladdin," was launched on Saturday week from the building yard of Messrs. Robert Ritson and Company at Maryport. She was constructed to order for John Aiken, Esq., of this town at a cost, when rigged, of £22,0 00 . Her dimensions and tonnage are as follows :—Square length, 175 feet, 2 inches ; breadth of beam, 32 feet, 8 inches ; depth of hold, 21 feet, 6 inches; tonnage, 863, old measurement; by the new system of government tonnage, 866. She has a full poop and forecastle ;is coppered up to the 21-feet mark ; has a three-qua r t ers b ust for h er h ea d, representing " Aladdin," with the lamp. She is thoroughly copper-fastened, and will be classed A 1 at Lloyd's for 13 years. The model is perfect, the materials are first-rate, and the workmanship, as we have hinted, cannot be excelled. Her timbers and planks are of English oak, East India teak, and green heart. The " Aladdin," is expected to 'stave Maryport in about a month for Liverpool, where she is chartered to take a valuable cargo to Calcutta. After the launch, a splendid dejeuner at which the owner of the new craft, Mr. John Aiken presided, took place in celebration of the event, and was attended by a goodly array of the ran k , b eauty, and wealth of the neighbourhood. MONETARY AND COMMERCIAL. LIVERPOOL, SATURDAY EVENING There has been no change in the tone of the Cotton Market to-day, and with a moderate busi ness, prices have been steady. The total sales reach 8,000 bales, and include 3000 taken for speculation and export. The Liverpool Share Market has been decidedly firmer in tone to-day, and an advance of -zt, per cent has taken place from the lowest point of yesterday. The firmer tone of Consols, upon the expectation that the loan will be issued in! instalments, caused the share market to close with great steadiness. The final quotations were as follows:—Aberdeen, 121 12i. Chester and Birkenhead, 14 Mi. Caledonian, 27, 2 ; 28. Chester and Holyhead, 13 131. Eastern Counties, Oi 10: East Lancashire, 18 184-. Great Northern, 22 1 23 . Ditto A Shares, 9.a. Great Western, 551 50k. Lancashire and Yorkshire Stock, 81' 811,-. Liverpool, Crosby, and Southport and North Western Stock, 11 chester, Sheffield and Lincoln 15 15k. 1007-f London Man- Ditto Preference, 11 Ditto N per cent Pref., Midland Stock North British, North Staffords-hii South Eastern and Dover, MI 19i1. York, Newcastle, and B"rwick, 19 19,1. York and North Midland, 251 26. Leeds :Capital Stock, 14 7 6 154. Dutch Rhenish, 9-16 11-16 p. Ditto New Shares, 224 p. Great Western of Canada, 26 26k. Ditto New Shares, 34 3d p. Great Luxembourg, 98;d. By way of Panama we have dates from 'Mel bourne to the 20th of November, being within five days as late news as the James Baines will bring when she arrives. The Emma was announced to leave for Liverpool on the 10th of December. The price of gold had declined 6d per ounce, and the yield still kept up. Exchange on England was quoted at par. The price of flour was quoted at 491 to 501 per ton. From Sydney the dates are to the 14th of November, and by them we learn that the Steam Postal Bill had passed through com mittee in the house ; 20,0001 having been inserted as the contribution of New South Wales towards a general line for all Australia. The ships Forest Monarch (from Glasgow), and the Rajah of Sarawak (from Bristol), had both arrived out at Melbourne. The imports of specie during the week were by the Lord Burleigh, from Sydney, 290 ounces of gold and 100 sovereigns, or 980/. ; the Ravens bourne, from Antwerp, 17 cases of bullion ; the Pollux, from Hamburg, 20 packages of bullion; the Baltic, from New York, 35,000 dols. or 7,0001. ; the Madrid, from the Mediterranean, 3,0831.; the Avon, from the Brazils, 7,025/. ; the Baron Osy, from Antwerp, 11 cases of bullion ; the Magdalena, from the West Indies, 2,900,249 dols., or 580,000/. . . The following is the official return of the exports of the precious metals from the port of London for the week ending February Bth, I.Bs6:—Silver Coin to Boulogne, 410 ; Ditto to Rotterdam, 1,200. Total Silver, 1,610 ozs. The quotation of gold at Paris is about 4 per mille premium, and the exchange on London at Short is 25.35, or about 0 . 32 per cent. dearer in London than in Paris. The price of gold in Ham burg is 4262 per mark, and the exchange on Lon don at short is 13 . 7, making gold 0 64 per cent. dearer in London than in Hamburg. In Mincing-lane, the Colonial Produce Market this week, the dealings have again been limited. Sugar has been dull, and to effect sales holders have been compelled to accept reduced prices. The stocks in Europe are rapidly increasing, and are nearly as large as at this time last year. Coffee has been less inquired for, and the quotations have tended downward. Cocoa has been steady, and also tea, but rice has ruled flat. Rum has continued depressed ; saltpetre is rather cheaper, and spices have not varied particularly. The pub lic sales, of indigo have proceeded at a material advance, Bengra qualities having realised 8d to ls, Kurpah 6d to 10d ; and Madras 4d per lb. more than in October last. Wool, at the public sales, is realising on the average 2d per lb. advance ; about 40,000 bales will be offered. Tallow has been dealt in to a fair extent. The following are the Gazette average prices of Muscovado Sugar, for the week ending Feb. 12th, 1856, exclusive of Custom's duties payable thereon on the importation thereof into Great Britain:-- From the West Indies, 22s 5/4 per cwt ; East Indies. 21s 9FI per cwt. Average price of the two foregoing descriptions, 22s 3cl per cwt. We quote the following resume of the business of the London Stock and Share Market for the past week, from the circular of Mr. William Avens:— The approaching conferences for peace, and the better accounts from the United States with regard to the pacific solution of our differences with that government, pro duced a continuously good effect upon the market up to Thursday; so that a considerable advance upon Consols and most other Securities took place. Some further improvement did not seem improbable then ; but a com plete change came over the market yesterday morning, caused by the announcement of a new loan and the fund ing of a portion of the outstanding Exchequer Bills. Not the slightest idea was entertained that either of these operations were contemplated at present; and, consequently the surprise which followed was exceedingly great. It was attended, too, by some peculiar circum stances. Sales of Stock had been effected by a leading jobber to a very large extent, both before and immediately after the opening of the market ; and a suspicion was thereby created that the bank broker had improperly allowed the fact of the loan to transpire. An inquiry was instituted before the committee, which, after full investi 'ation, resolved that there was no foundation for the imputation. The amount of the loan is estimated at 10,000,0001. by some, and at 15,000,0001. by others, and the funding of the Exchequer Bills, it Is thought, will absorb from 5,000,000 7 . to 9,000,0001. of these securities out of the market. Money is very dear, while the demand is in excess of the supply. The rates consequently remain exceedingly high. The discount houses are doing little or nothing under the Bank terms, and the average minimum rate upon the test bills is 61 per cent. An extension of manufacturing and commercial operations in different parts of th. country, together with increasing on foreign and colonial account will explain the pressure for accommodation upon country bankers, and its reac tion on their agents here. Besides this partial revival in the ordinary business of the country, a considerable number of new Joint Stock undertakings, intended to take advantaga of the openings which returning peace will afford for obtaining large profits, are projected. Some of these undertakings have been at a good premium, but they are now lower. Up to the present moment suc cessful efforts have been made to prevent the Banking class of these projects assuming a merely speculative cha racter ; but there are others in which the same caution is not directly manifested. These undertakings are, on the whole, sufficiently numerous and important to perceptibly increase the call for money, so that when added to the great pre-existing demand, the tightness of the market, and the dearness of the rates, in the almost immediate prospect of peace, are at once accounted for. At the same time there is less capital waiting employment, while it is probable that large reserves will be made in prepara tion for the new loan. About 600,0001 in specie, chiefly in silver, has 'arrived during the week ' • and 400,0001 is due from Australia. The Continental demand is not yet satisfied. Some expectations have been held out of an outflow of gold from the seat of war in the East ; but though the exchanges are favour able to its return, none has yet come back. Consols opened yesterday at 9U to 1, being I per cent lower than on Thursday; bat owing to the announcement of the loan and the'dearness of money, they fell: to 90 to 1, at the close. Business has been but moderate in amount. Rail way. Shares are all lower, the decline averaging V. per share. The Settlement, which is now concluded, showed a light account. The rates of continuation were com paratively low on Wednesday; but on Thursday they were very heavy. For instance, Great Westerns were *tol on Wednesday, and next day Ito ; on Midlands they increased to ; and on Lancashire and Yorkshire in the same proportion. Foreign Securities are all rather firm, but lower. Joint Stock Banks, which have lon.- shown an upward tendency, still keep up. Bank Shares are still a very favourite security, and they are likely to keep in demand. in London to day, the excitement caused by the announcement of the loan having passed away, the Stock Market was quiet, and without any mate rial fluctuation in prices. The opinion now is that the amount of the Loan will be very small—so low as five millions ; but on the other hand it is not very probable that the Chancellor of the Exchequer would ask for so comparatively small a sum, at a moment when it is considered necessary to impress upon Russia that we are making great preparation for continuing the war if the forth coming nogociations break down. The uncertainty as to the amount discouraged operations this morning, still the tendency was rather towards an improvement upon present prices than otherwise. Private letterf from Paris this morning describe the operations upon the Bourse as having been in a state of panic at the sudden fall in Consols yes terday, and it was attributed to all sorts of causes except the true one. There seems, however to have been a good deal of selling, so that it is likely the fact of the loan was known to a few at an early hour. Consols opened this morning at 90 to 1, and for a time they stood at 90-: to '4; they then relapsed to 901 to I, and they closed firm at 90-a to I. Railways are a shade better, but witY nothing doing. Foreign Securities shew no parti cular change, but they are all good. Joint Stock Bank Shares have recovered the slight fa T], which occurred to some of them yesterday, an d the demand continues to increase. The prices are . Alliance, par to prem ; Western, a to 11 prom • National Discount, s to -1- prem ; Ottoman, 11 to prem ; Bank of Egypt, 1 to 2 prem. Money again been in great demand. The Discount houses are taking any amount for three months at 51 P e g The French Three per Cents., which fell per cent, yesterday, showed a tendency to recover this morning. They opened at 73f. 50., or ihigh er than the closing price yesterday, and at noon th e l The recovery, so far, is equal to were 73f. 90e nearly -a per cent. We have authority for contradicting the repor t ' that the agency of the Tipperary Bank has boo transferred from Messrs. Glyn and Co. to the London and County Bank. The specie by th e Magdalena is £375,400. Nearly the whole of this is believed to be in silver. This supply is veil opportune as it will meet the Indian demand, an thus for the time obviate the necessity of drawing upon the Continent for silver. The total value the week's reports is estimated at ab°, ll A • but scarcely any of this is in goT ;C70,070, chiefly consist Table c I banking concluding with an assurance that we enjoy Free Trade in money, repeated for the hundredth time. But we deny that we have Free Trade in Money. We have it in c 1, because d import it in can purchase it at any price, Zny quantit: without being asked whether we are n a condition to pay for it in gold, or any other commodity. But it is not so with currency. The price of gold, and the amount of circulation we are to have, are fixed by law; and when the wants of the public reach the prescribed limit, they are denied irther accommodation, the rates of interest are advanced and every advantage taken of ti sign grain was cont lary ,ed to keep up prices ; and now, when from a y of bullion, the rates of discount range from six to ten per cent., our fixed price is below and prudent man would venture to resort to law in a case where a comparatively small amount was involved ; while all thought it strange that such a state of things should have been so long tolerated, many viewed the injustice complained of as a necessary part of our institutions, and a large portion of the community was satisfied that the present system were maintained for the sole benefit of a class ! Such is the language Parliament applies to itself, and the crimination, though cruel, was well merited. The remedy proposed, however, was purely such as a lawyer would devise, and we are proud to say the House of Commons rejected it with something like disdain. Mr. NAPIER proposed the creation of a Minister of Justice—a Ministerial Constable to look after the administra tion of justice iu our Law Courts, and the nefarious practices which aro carried on in Chancery. Such a functionary could find ample employment, both in this country and in Ireland. in looking after the proceedings in the Masters' Offices, and something worth attending to in those where law costs are taxed. But proposing to place such an officer over both Houses of Parliament, was mooting a species of despotism and abrogation of privilege which the Legislature was not prepared for. As a remedy for the abuses complained of by the public, it would have been better to have gone back a 3entury or two, and reminded the House that it was the prac tice to hang judges who neglected the perfect and Mr. NA tion ( A does not pretend to say that such men as Lords LYND. HURST, CILAN WORTH, CAMPBELL, ST. LEONARDS—onee the unerring Sir EDWARD SUGDEN—or the inestim able and Right Honourable MAZIERE BRADY—the present Lord Chancellor of Ireland, his Master of the Rolls, and the staff of Masters under him, do not know what is law, and what is not, and that they have nut time to read the enactments placed on the Statute Book from year to year. The truth is our laws are basely administered, and it is of their administration that the public complain so loudly ; and the Reform required is simply that which would put the poor man on a level with the rich—some court to which Chancery victims could appeal without cost, against deci sions made behind his back—some means of bringing men who falsely personate others in suits to, justice, and which would enable him to bring the responsible officers of a court up for judgment' where it could be shewn that they were privy to any mal-practises, or sanctioned any flagrant abuse of the la►v The people complain, and most reasonably, of the practises of the Court of Chancery. There is not a man who has property in any portion of the kingdom who does not feel that his widow and orphans can be plundered by trickster who can get possession of his title deeds, or the administration of his affairs after death. The three kingdoms are full of families beggared by such means; and the remedy the member for the University of Dublin proposes is a Minister to dictate to Parliament Ivhat bills it shall pass ! If any just and high•minded legislator introduced a bill, making Chancellors and their officers responsible under a enactment for a perfect administration of jus tice, it would be the business of Mr. NAPIER'S censor to tell them that the Lord CHANCELLOR had already criminal jurisdiction, and was a magistrate as well as judge ; and, if it were proposed to estab lish a Court of Appeal for the ruined litigant to ga to without cost, when " choused" out of his pro_ perty, it would be for that high official to remind Parliament that there was always redress for the pauper as the law now stands ! But Mr. NAPIER beeu, iu wie course or nis experience that it takes something more than an a barristc affidavit charging forgery, embezzlement, perjury, and years of uninterrupted fraud and conspiracy to induce a Lord CHANCELLOR to order delinquents into custody, or to secure their apprehension. If the right lion. member has not heard of such cases, it would not be difficult to supply him with the title of a cause or two in which applications of the kind have failed, or the dates of affidavits which are still matters of record. lie also knows the amount of justice a pauper can obtain in our law or equity courts. Now, it is against all this systemised plunder, the public protest. In the ease of large landed properties, the cruelty and injustice are not con fined to the few principals who are defrauded of their estates. But their tenantry, who number thousands of families. These are left to the mercy of receivers, who can account as in some cases, at the end of nine and twenty years, for the money they receive, and who seldom fail to strip the tenant of a good holding; and thus depopulate whole districts, and drive thousands of beings from their homes to beg their bread. If Mr. NAPIER doubts the existence of such a system, or the possibility of such things having been done, it would be easy to name estates, the receivers, and their victims. And, passing from Chancery to our Law Courts, is it not a notorious fact that thousands of men, with both law and equity on their side, have failed in their efforts to obtain a trial, much less justice? How many thousands have sold their bed from under them in an abor- tive attempt to get a hearing of their cause, and failing from want of a few pounds on the day of trial, have been compelled to pass through the Insolvent Court, to clear off a bill of costs incurred between lawyer and client. Our laws are perfect enough if we could get at them What the public require is a cheap, clear, and fair way to justice. Simplifying, cutting down, and codifying, ' our laws, would relieve attorneys and barristers of a vast amount of labour; but it would not correct or remove the complaints brought against the organic defects in our system of jurisprudence Law should be cheaper, and the right of trial by jury and appeal given to the poorest man in the realm, or else how is it possible for the poor than to cope with the capitalist—the needy trader with the millionaire ? It is all very fine for lawyers, to stand up in the House of Commons, and play off the public with futile propositions ; but the groat mass of the people are aware of the fearful disadvantage to which they are exposed under the present law and equity system ; and some practical remedy fo r th e evils complained of must be propounded before the present agitation ceases. The country has un. broken confidence in the wisdom and conscien tiousness of Parliament, when once roused to a sense of such wide-spread injustice. The number of laws it enacts are called for by th e exigencies of the times ; and though lawyers may wish to arrest the current of legislation, the people have no such desire. The public hope yet to see all that is wrong at present removed by the Imperial Parliament ; and the first searching the grave, reform they anticipate is in the law and equity c ourts of England and Ireland. Mr. NAPIER Would start us on a wo r k which would take half tol a centu ry t o fi n i s h ; and in that t i me th e i n t erests of the present generation will have gone down to thefro mHowhen ce, Commonsthe r right , honourable h th o e n y o u w r o a u b l l d find a v o i ce to e member chee r th em on i n t h e wor k w hi c h ho prop ose d ! But we must confess we would NORTHERN TIMES.-LIVERPOOL, MONDAY, FEBRUARY 18, 1850 he value of that metal in other count ents its importation at a profit. We are not from the high price of gold abroad, but sufferit m its 10 fixed and market value in this The corn laws kept grain out when we had a certain quantity at home, and the low fixed value placed upon gold now keeps that metal out, causes the exchanges to be quoted against us, and leaves us with a scarcity of the precious metals, to justify rates of discount! We have only the amount of circulation fixed according the bullion in the coffers of the Bank of Eng. usurious land, but we have the import and purchasing price of gold fixed by statue. To talk, therefore, of our having Free Trade in money in England, is bare faced imposition. None but a Whig who clings to the traditional motto of his party—" usury r a usury !' —will attempt to gull the public by saying we have Free Trade in money. Mr. MusTz has taken a course by far too moderate, considering the fiscal and co mmercial exigencies of the times. A committee to sit and consider this make a report in 1857, which Parliament may be called upon to consider in 1858 would scarcely bring the country that timely relief it so much needs, "To borrow on usury brinagmsosnugddthene " beggary," was a f avour it e proverb Romans, and in Cato's time, many patriotic heard to declare qutncunciall Now, if five i n the hundred were usury in ancient Rome with its citizens' imperfect knowledge of the wants of trade and industry, and was considered Ir, to senators were .s" abominable oppressive, how much more so must it be in these days, with the proof we have before us of the ,ration of rates of interest ranging ten in the hundred ? We do not want a baneful Or „ trom HERACLITIIS to weep over the wrongs of commerce, but we do hope some man in Parliament will take a bold stand against usury, no matter what his compeers may think with respect to the right principles of Banking restriction, and currency. THE subject of Law Reform was brought before the House of Commons, by Mr. NAPIER, on Tues day night. The learned Member drew a dreary and rather disgraceful outline of the way in which our laws a re ma d e, wh i ch, when fi lled up w i th details emb rac i ng the complaints of the public, formed a very sad and painful picture. In this work he . was ably seconded by Mr. LOCKE KING, wh o sa id " justice perpetrated under e t c h o e m p e l tt e n e t u s r e o f f " law, and o f the expen" had b een made for manys e o e f a r " time th a t some measuresy elegal and proceedings, o di i c v e e e eh n i g g s h , asnhoulfd be taken for et oneohue d laws b e w re e m re ed t y h i e n g su th bj o e s c e ts ev o il f s. com M pl a y i n e t g o verning the traced s e y o s n t v e m e n i t e h n a t t m w a o s d e a t of t t eo be the the h m e i l m i t a o r s y t time found " people of this country, and the result of changes " which had been made had been merely to " substitute subtle and secret oppression " for the savage barbarities and the open " cruelties perpetrated in past ages." The honourable gentleman then went on to reite rate that which is heard from almost every man's lips out of doors—namely, that the law of England was shunned, ridiculed , and dreaded, instead of I being appealed to, respected, and loved; that no exports for the . Brazils. The closing c1. 11° : tations of the Railway Share Market stood as fol lows :—Caledonian, 553 s'l. Eastern Counties, 10 ; East Lancashire, 71 73. Great Northern, _9l# 92. Do. A, 753 761. Great Western, 56 563. Law cashire and Yorkshire, 814 811. London and North Western, 1003 1001. Manchester, Sheffield, and Lin colnshire, 243 25. Midland Stock, 693 69 South Eastern and Dover, 64 641. York, Newcar tle, and Berwick, 78i 78g. York and Not'' Midland, 25 25Z ENSURRECTION IN ALGERIA. We read in the Moniteur Algerien of the 10th " The Governor-General received information on the 21st ultimo, that an insurrection had broken out in the Valley of the &baton, and that severld tribes had collected together, and made a hostile movement towards Tizi-Ouzou, and threatene d the new post established there. Not knowing whether this insurrection might have ramification s in other parts, at Kabylie, orders were iranW diately given to concentrate a sufficient fore° to re-establish order. On the 2nd, three bat' talions of the 60th regiment, a squadron of the 7 i 13 Hussars, and a detachment of artillery under th i e command of General de Ligny, left Algiers an d proceeded by forced marches towards Tizi-Ouzot t, The advanced guard arrived there at daybreak on the 24th. The news of the rapid approach of the French troops had the effect of clearing away th e , insurgents from the neighbourhood of that post' still the Kabyles did not retire to their homes, bu t remained in numerous groups on the sides of their mountains, firing off their muskets by way of chal lenge to the French. In order to. establish th e French authority in the plain, and also to draw' th e Kabyles into the ground more favourable to the operations of the French troops, Gen. de Ligny, on the 28th, ordered a razzia to be made in the direc' tion of the village of Meddour, two leagues to the east of Tizi-Ouzou. This operation was effecte d without the troops engaged in it meeting with 801 resistance, but at the moment when they were , _ returning to the camp, Captain Beaup r etre, had pushed a reconnaissance to some distance along the valley, was followed by a body of horse,' men, aided by from 300 to 400 foot. Th e genera l sent a force to support the captain, and th e squadron of hussars under Captain de Se re ,, charged the enemy, who retreated hastily, leaving ov killed in the hands of the French. On the 20th, column left the camp, crossed the Sebaou, and attacked the Kabyles. They resisted obstinate/P e hut were at length put to the rout with the loss of 50 killed, and several wounded, b es id es th e loss el r'' oxen and sheep. The loss of the French was onl four killed. Almost all the tribes on the right ban of the Sebaou have quitted the other insurgent S and renewed their submission to French authority, and those tribes who still remain in rebelll o . ll have retired into the mountains of the Beni, Eaten." PANIC ON THE PARIS BOURSE Much agitation was produced on Friday on the —indeed it might be called a panic -- in consequence of the telegraph announcing thiA Consols had fallen 2 per cent. The effect was severely felt at first, but the funds rallied after wards. Various reports, some of them a bsurd, were in circulation fora good part of the day. 1 11 . 8 complete rupture with the United States, the dell very of his passports to Mr. Crampton, th° iris Bourn departure of Mr. Buchanan from London, dil l ' turbances in some large towns in E n gl an d, the Au: of the Ministry, the conversion of a large amour' of Exchequer Bills into Three per Cents! were th e principal reasons assig ne d by p u bli c rumo ur for the fall. The alarm at first occasioned, however' diminished as the evening advanced. THE CONFERENCES The opening of the Conferences for the re-estalY lishment of peace remains fixed for the 23rd /va t ' Baron Bruno w has already seen some of his friend s ' political as well as personal. Though still une o n r municative, he is reported to have said that Rea° is sincerely desirous of peace ; but that if pea ce be not made without loss of time, if all be n ot over within three weeks or a month from the opening of the Conferences, serious difficulties might inter' fere with the final settlement of the q uestior g 7 Count Cavou r , th e S ar di n i an p l en i potentiary to the Conferences, arrived at Paris on Friday, accol ir panic(' by a secretary and t wo attac h es . -fro alighted at the Hotel du Rhin, Place Vendome. The Independance publishes the text of the dee?' ration as to the peace propositions presented to th e German Diet at Fra n kf ort b y A ustria on the 7t h 0i February. After recounting the history of the re cent diplomatic transactions, the document says The said [Western] Powers, faithful to the principlefi the collective recognitio n o f w hi c h const i tutes the bona uo, their alliance, have c onsc i en ti ous l y excluded any P r o position which would not be fully justified by ,t t incontestable European right, an d w hi ch, for very reason, would not be of a nature to be a; cepted with honour by e a c h o f the great Pow ers which divide between th em, i n the first rank, ",," responsibility of peace and of the prosperity of EuroP'; The Imperial Court entertains the firm conviction till this spirit of m o d era ti on and solicitude for the genel',,4 welfare of nations w ill a l so prevail at the Conference which will sho r tl y open, and that, consequently, the right expressly reserved in the fifth point for the belliger eP f Powers to propose, in addition to the four points I%tl guarantee, new conditi ons in a European interests,:: not be exercised i n a sense which migllt have the ea of again compromising the work of peace so happily c° [isl menced. As a me m b er of the Confederation, the ImPe4:o. Court ,hope s th a t t h e High Assembly will see in the P.', sent communication o n a mo ti ve f or declaring before Europe, that the whole of Germany, united with Austrian accepts, and is resolved to maintain, the bases uP ° „, which the approaching Conference s are to erect an d c°' solidate general:peace. CORONERS' INQUEST , . - On Saturday, Mr. Statham' deputy coroner, held the following inquests :—On the bo' of a Lascar named Lalamea, who arrived here a'few days ° Pa from India, as a sailor in th e s hi p Rangoon. and who di e d in the Southern Hospital. From th e ev id e n ce, i t aPPearet very that when the ship came int o the e_hannel, the deceased g t ° o bad with the cold, which he did not appear able ;,,0, of the Eery attention was paid to him by Capt. 11 1151 ;"„a the ship, and on arrival here Ile was sent to the hescu -- -1 oa reu where he died. On a post mortem examination, it aPP,• dol t that death was caused by congestion of the lungs, a,,."",:ii e t the change of climate, and cold, hastened death. v e " - h ie accordingly. —On the body of John Hardie who died at - residence, Victoria-street. The deceased le , ft home on SIP; day night, and was found about eleven o'clock lying the Boundary-place, Pres co tt- s t reet, and was removed to 13, station. He was sent from the main Bridewell, at an early hour in the morning, to the workhouse, in consequence Mr. Campbell, the lmidewell-keeper, having called , r a doctor to see him. He complained of his neck being hurl and said he fell. The doctor asked him if he fell Bern, anything ? and he said he could not say. Mr. W. Kola s surgeon, stated that he had made a post mortem examination of the body of the deceased, and found death was t',,e rel it of partial dislocation of the spine, and such injury n l ig r d praceed from a fall, if the neck came in contact with a ut u t raised substance. Verdict, " died from the above cause, how received there was no evidence."