The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1863-08-11 00:00:00

DORSET COURY EXPRESS
DIRcIusTER. TUZEIDAY, AUGUST 11, 11183.

NOTES OF THE NFEEL

The half-yearly meetiNp of Joint-stook Banks,
which have just been bold, show that these insti-
tutions are jProevulaing favourably. The dirt'
deeds oast DO very pleasant to the shareholders%
whilst the gnome of these banks is a cheering
fist forth. community generally. We have long
predicted, that eventually the whole of the
private banks would be swallowed up by joint.,
stook concerns, and we find that such an opinion
I. rapidly gaining ground among those whose
judgments, in matters of this sort, are entitled
to respect. Within the last few days the
banking-hoses of M.esers. Hankey, which is
so well known, and of such excellent stand-
has effected a junction with the Con-
solidated Banks—a Joint-stook bank for which
Heywood's was one of the component ele-
ments. This junction is the most striking
tribute to the principle, we have so long main-
tained which we occild well have imagined.
Mews. Henke?' business "Agin *most flourish-
ing state. The profits, as ilre have good reason
to know, were as ample and u solid as at any
previous period of the bank. For the present
there was nothing to fear, and there were large
gains to enjoy. But it could not escape intelli-
gent men of business that the basis oft bank on
the Joint-stock principle was far wider and
stronger than that of any private bank. As
time goes on, and such banks grow in
credit, influential persons of all kinds
will booms shareholders in them, and will
attract to them the money of poems who
may he influenced by them. The connexions of
banks with alerts and Influential proprietary are
capable of almost indefinite extension; and such
a 00I1710Ii011, in the course of years, ozonise •
steady and decided influence over the amount of
deposits. Many people carry their money where
itis hinted, though not suggested% to them to
carry it As far, too, as the public are e
the joint-stook, under proper eondicLiscenn
good management, Is safer than any other bank.
The following is a statement of the debt of the
Federal Government, as it stood on the Let July I
last, charged at 4s. the dollar :—lnterest bearing I
debt, 4 per cent, temporary loan, £5,611,869;
per cent, temporarycan, £14,162,927; 5 per
cent, bonds, due in 1866, '7l and '74, £8,096,600;
6 per cent, hoods, due 1868, 'Bl and 'B2, and 6
per °ant. treasury notes, £6,272,174; 7.30 par
cent. bonds, £27,964,100; debt not bearing in-
terest—treasury n0te5—L'75,297,900; fractional
currency, £4,058,491; total debt, July 1, 1863,
£119,454,873. As the amount of the Federal
debt on the 4th March, 1861, the date of Mr.
Lincoln's inauguration, was only 74,965,299
dollars, or lees than £15,000,000, it may be broadly
stated that the increase of debt caused by the civil
war is more than £100,000,000, independently
of anz amounts which may have been raised by
taxation. Mr. Chase, it thus appears by the
statement we have given, has been able to borrow
about £125,000,000 from sources other than the
currency, which is much more than persons in
Europe believed he would be able to borrow.
It will also be seen that Mr. Chase has issued
£79,344,000 of paper currency, which, consider-
ing the paper currency of the union at the same
rate of exchange, was little more than £40,000,000,
is one of the most surprising facts ever added to
our economical experience.
After their recent reverses, things are be-
ginning to "look up" with the Confederates. A
week ago we were informed, on "Federal
authority," that Meade's army was in • position
to cut off the retreat ef General Lee, but we now
learn that Lee has out-manceuvred his opponent
and effected his escape through Chester Gap of
the Blue Ridge mountains, and that he will soon
be in his old position on the Rappahannock. By
the last &deices, also, the tone of the Southern
journals has Improved; the first shock of the
several reverses has passed away, and the
Southern people again realise the fact that they
are sound in wind and limb, and axe quite ready
to again meet their opponents on their own
ground, or a little beyond it. The bombard-
ment of Charleston has been continued, and
several sesaulta have been made on Fort Wagner,
which, however, hay. boon gallantly ntaissravil
the Confederates. The Federal troops e
on the Federal aide are complimentsd for their
bravery, but the sight of them seems to have
inspirited every Southerner with the spirit of
ten men. On one occasion the Federals suc-
ceeded in planting their flag on the ramparts,
but they were immediately repulsed with a
slaughter, it is said, of 2000, men. General
Morgan, we learn, has been brought to bay in
Ohio, and captured, with 400 men. The South
has thus lost a brave officer, and one who has
shown a peculiar fitness for the irregular kind of
warfare in which he was engaged. General Bragg
has defeated a Federal him at Richmond,
Kentucky, and pursued them to within five
miles of Lexington, the capital of the State. The
political news, by the last mail, is far more preg-
nant than the military intelligence. It is said
that the Confederate Government formally so-
knowledge, the French Protectorate in Mexico,
and an offensive and defensive alliance
to o nch Emperor, and offers to modify
the "Domestic Institution" in accordance
with European notions. If this be so, the
the victory is won, both for the slaves who dis-
like slavery, and the Southern whites who yearn
for independence, for surely our own govern-
ment cannot but 'mond so liberal • proposal. If
England and France, on the understanding that
the South would modify its "Domestic Inetitu-
tion," be that modification however small, were
to join in an alliance with the Confederates,
offensive and defensive, the war would be at IA
end within the space of three months.

Date' 1

State of
weather.

ill Dinekion
1 at Wind.
-
A.
55 43
4 67 41
5 52 45
6 56 46
7 56 46
5 66 46
9 5814 W

NOOD

SW
SSW
NW k W

waiv
SW
SW

Rain, ens.
Cloudy, rain.
Fins, cloudy .
Gloomy.
run, misty.
Misty,drissling rain
Cloady, She.

COWIIPONDINII irk= Lurr ULM

ATt a
I g

I NW kSW
S
53 SW
56 W k SW
53 SW beisk
113 kV
46 NW

Mo.
Fins, cloudy.
Cloudy.
Fins.
Rain, fair.
Cloudy, fair:
Cloudy. Ina