The Daily Times.
Liverpool, Merseyside, England, 1861-01-07 00:00:00

the will lose, not a moment in consolidating her power,
and in giving the inhabitants of her eastern provinces,
who are not all members of "the adVanced party,"
strong interest iii the prese'r'vation off puce: it is still
'quite 'possible tor tke Effiperor Joseph to do this, and to
`iketnn4e the machinations of the Mazzinist faction, so
far as Thingary is concerned, by listening to the counsels
and acting upon the advice of such men as Von Schmer-
ling. Hungary was formerly a country pre-eminently
loyal, and loyalty is far from extinct amongst the Hun-
garians of this.day. Let a really liberal constitution be
offered to the inhabitant; and 'their loyalty and devotion
will not be long of being oifered to the House of Haps-
burg in return. Meanwhile, strong and general as is
the desire fot peke at all hands, there is ne use in shut-
ting one's 'eyes to the fact that causes are studiously and
designedly kept in operation *hi& h&n t tilted ten-
dency to lead to war in the allying ; and unle,-:s, there-
%re, Austria arall herself of this precious interval to
ti.K:hre her position, .by, founding in Central Europe,
whilst she has the Means and The pa*er of doing so, a
thoroughly constitutional state,, plindiples of
Ideal •SelfloVernnient 'thq iitiministrative independence,
Rua *ill ll'ieVitably'forfcle her rank as a great power,
and the various heterogeneous State's of Which her empire
consists, will rapidly separate themselvei 'jute their
original disjanetire etementft, neVni• again to be united
under out.; wine sceptre. Above all, however,
'Mkt: Vetere all, Venetia must be surrendered. The hour
and the occasion for making this sacrifice have arrived.
If not taken advantage of before " the spring," they will
never again occur. , .

The Pope, liku the ttpthi off. ale PrenCh, has also
had nFke* ear's reception. General Goyon, obedient
to orders, Made no political allusion ; but his Holiness
took occasion to express la approval of the expeditions
to Syria and China; and ,to applaiid the eldest soli of
the Chula" 'foi 'continuing to keep his feet e,t btl.eta.
These amicable thay Possible be due to the
Which is said to be reported in French official
circles, that his Majesty has written an autograph
letter to the Pope, notifying the appointment of
the six bishops recently named, but for whose enthronisa-
tion the Papal aveguatur is still withheld. In this letter
his Majesty points oat that the names of the prelates he
has selected to fill the vacant, sees is n t±rt'afOf oncilia-
ttont he itstAttch the Mibrilices•he is making in behalf
of the CatifOlic religion by sending an army of occupa-
tion to; Syria, and keeping it there,• notwithstanding the
disapproval of other Italian Powers; and donchxdes by
expressing •a hop that hiS Holiness ill I•atify his
episcopal nomination, and gratit his blessing to his duti-
fill son,

th rumour that negotiations for an armistice at
Gaeta had beeti entered upon, is repeated in-another
form. It would seem, at all events', that the oitailahts
and the assailed, as they at ',tetra gtatid towards each
ether, ire 6.ltreiy equally matched; and that neither
party has yet succeeded in inflicting much damage upon
the other.

Ie „Mae, the Roman Catholic organ in Paris, talk-
ing of the probability of a schism, says—" Almost all
the journals would be' favourable to a schism all the
manufacturing and financial notabilities wmild readily
support one. 'the danger, therefore; is There
Wohld 'result fl'oi'A it; not.) perhaps, a real schism, but a
great Veithrhatioli for the Church of France. But
What reassures Christians is, that all the Bishops of
France would be faithful ,to their duty, and that no
apostacy is to be feared, as in the sixteenth century.
It is proposed by the friends and admirers of the late
lamented Marquis of Dalhousie, both in this cduntry and
in India, to establish at Calcutta a memorial of his name
and commetnomtioii of his Merit, and in appreciation of
his pUblic career as an Indian diplomatist AO states-
Maw,. Thu usual form of a public statue will not for
this purpose bo adopted, but the memorial will take the
shape of an Athenaeum, or literary institute, worthy
of the seat of government. The structure is to consist
of a central hall, for the reception of etattes and busts,
and suitable for public Meetings and concerts, with
lectui* rectitht rooms, library, orchestra, and organ,
together with miscellaneous meeting and accommodation
rooms. The building will be located on a plot of ground
to the eastward of the government house gardens. The
design's are ,open to architects both in England and
India, and the competition in connection with which
prizes are offered; will be open until the end of March.

Recent returns respecting the shipbuilding trade of
the Clyde are highly favourable. Last year eighty-
eight iron vessels were turned out by the 'Clyde builders,
the gross tonnage being 47,700 tons ; and there are
now on the stocks forty-six vessels, with a tonnage of
44,900 tons. The death is announced of Mr. J. Wood,
a gentleman who did much in the course of an active
business career, extending over fifty years, to raise the
reputation of the Clyde in connection with the construc-
tion of steam vessels. Mr. Wood, who latterly became
a partner in the firm of Messrs. J. Reid and Co., built
the James Watt, which was the first seagoing steamer.
A code, of regulations for the government of the
Volunteer forces is stated to be in course of preparation
by the authorities. The Volunteers, we may state, now
muster 140,000 man, of which number 20,000 have
joined since the Ist of August last.
It is announced that the North Atlantic telegraph is
about to be proceeded with,. under the auspices of Sir
C. Bright, C. 2., who earned his knighthood by his con-
nection with the laying of the afterwards unfortunate
Atlantic telegraph, the directors .of which,' it is also
stated, haie not yet abandoned their undertaking, what-
ever they may do or not do in respect to the line already
laid.

The. fluctuations of the funds during the past year
have not been by.any means, so remarkable, as in many
previous years. Throughout the whole period of twelve
months the extreme range of Consols *as 31 per cent.,
that of the preceding yeat hating been 81, while in
1868 it was 6 per cent. The highest price, 941, was
touched on the 4th of January, and tin lowest, 92k, on
the Ist of December. The difference between the
opening . and closing quotations of the year shows a
decline of 3.2. In railway shares the average range Of
fluctuation has been about 15 per cent., While, instead
of a decline being established, as in Consols, there
has been an average improvement of about 10 per cent.
As regards the Bank bullion, its amount at the begin-
ning was £16,460,824 it readied .M 6,682,080 on the
27th of tune, and declieed to £12,798,119, its lowest
point, at the end of the year. At the Bank of France
the total at the commencement was £23,200,000,
while it is now £17,300,000, showing a lass of
£5,900,000 during the year. On the Paris Bourse the
fall in French Itentes has been 1! per cent. With
respect to the declared value of our exportations the
Board of Trade tables thus far, which comprise only 11
months of the year, show a tbtal of 2128,714,276 against
£119,618,185 in the corresponEng period of 1.8602 being
an increase of £4,101,091, or 3j per cent., while it
exceeds by 71- per cent. the total of 1857, the great year
of inflation. The changes in the Bank rate of discount,
which were five in number in 1859, have been 11. On
the Ist of January the rate *as 21 pet cent., whente it
was gradually advanced tog per cent. It then went
back to 4 per cent., but reached 6 per cent. on the 15th
November, and is now again at that point, after a
temporary reduction to 5 per cent..

We are sorry to announce another and more serious
accident, which occurred at a late hour last. Friday night
on the London and North-Western Railway, which re-
sulted in the death of one first-class passenger, and serious
injury to two or three others. The train left Liverpool
at 5.15 p.m., and reached the ticket platform at
Carndentown soon after eleven, There it was dis-
covered seine of the carriages were missing. An engine
was despatched, and about forty yards on the London
side of rrimrose-hill tunnel the disconnected carriages,
two in number, were discovered, smashed and turned
completely over. Particulars will be found elsewhere.
Boulton and Watt, of Birmingham, have contracted
to coin 1,800 tons of the new bronze money in the
next two years and a half, which involves the striking
of 400,000 pieces per day on an average during the
whole time.

ELEVATION OF THE SECRETARY-AT•WAR
TO THE HOUSE OF LORDS.

TILE Right Honourable SIDNEY HERBERT, M.P.
for South Wiltshire, is about to be summoned by
the Queen to the Upper House by the name,
style, and title of Lord HERBERT OF LEA, in the
County of Wilts, in the Peerage of the United
Kingdom. For the long period of twenty-eight
years Mr. SIDNEY HERBERT has occupied a seat
in the House of Commons; and it is not to be
denied that he has well earned the honourable
distinction now about to be ccnferred upon him.
He leaves the scene of his active legislative
labours at the mature age of fifty, in good health,
we believe, but yet confessing that he now feels
his strength not equal to the heavy duties of the
Lower House. The career of this able and assi-
duous member of the Commons, and the circum-
stances under which he retires from the House,
are full of important suggestions.

Mr. SIDNEY HERBERT is the son of the eleventh
Earl of PEMBROKE, by a second wife ; and is half-
brother and heir-presumptive to the present Earl
of PEMBROKE, who is now seventy years of age ;
so that the whole extent of the favour conferred
upon the right hon. gentleman by his immediate
elevation is that he obtains a release from his
heavier duties below, and a seat in the }louse
above, a little before the time when he 'Would, in
the ordinary course of nature, sue,ceed to that
Peerage. But' if, from any
cause, Abe it that
publicly assigned or othei7;iFe, the
change should
be felt by the new P•eer
a cause of thankfulness
to the Mi-•
_.aster who has been instrumental in
effeP'.
,„cipg it, it is not difficult. to perceive that
there exist many shtewd political reasons for the