The Press.
London, England, 1855-12-08 00:00:00

2mustintitts, frt.

MR. ALBERT SMITH'S " MONT BLANC " is now SO
thoroughly established in public favour, that we look
for the entertainment the first week in December
with as much expectation as we desire the opening
of the Opera, or any other orthodox institution,
at a certain period of the year. Hence, on
the opening, as on every other night, your es •
trance is effected magna comitante caterva, until
the little Swiss chalet is filled to overflowing. Of
the entertainment, little really remains to be said.
Every one has been there, and every one will go
there again, to" mark, learn, and inwardly digest"
the good things prepared for his mental and moral
nature. Yet we should be guilty of no little injustice
if we omitted to notice the improvements and addi-
tions which Mr. Albert Smith's vacation has edam&

1176

In the scenery there is much that is new and very
beautiful. The " Pass of the 'fete Noire," well re-
membered by all Swiss tourists, is one of the most
perfect pictures painted of that famous pass, while
the " Crevasse in the Glacier de Boissons," and the
view of the "Summit of Mont Blanc," and "Cha-
mouni after the Fire," are all admirably well-painted
pictures. But previous to arriving at these, the view
of the "Grande Mulets " at sunset and twilight., is
one of the most beautiful and in effect perfect scenes
ever represented. The route chosen by Mr. Albert
Smith is through that clean country Holland, up the
Rhine, en route to Chamouni and Mont Blanc, and
lastly, home by Paris and the Exposition. Here, of
course, " Brown " is to be met, with his all-round
collars, his eternal cigar and gentle lisp—that Brown
whom we all so well know on the Continent—a young
gentleman much more dignified than entertaining,
speaking bad French, and full of indolent indiffer-
ence to everything about him ; that " Brown" has of
course been met with by Mr. Albert Smith, and is
rendered more amusing than it ever entered into his
own belief he was capable of being. Our old friend
also, "The Engineer," who always tells a stupid
story, is of course picked up at the Exposition, and
tells a story ten times more stupid and less con-
nected than ever ; while Galignani brings in the
events of the day with capital precision, and closes
an entertainment than which none more amusing
can be found in London. Every evening the room
has been crowded, and the audience enjoy the jokes,
applaud the good songs, and laugh at all the good
points with a heartiness which shows how thoroughly
they appreciate the efforts of their clever and
amusing entrepreneur.
LYCEUM THEATRE.—Mr. Anderson will complete
his " hundredth night" on Tuesday next. His house
is nightly crowded, and the perforamnces appear
to be as attractive as on the opening occasion. On
Tuesday we need hardly say that a " special enter-
tainment" will celebrate the occasion. As the time
of " clown and pantaloon " draws near, expectation
is excited with regard to Mr. Anderson's promised
pantomime. It will be a reprentation, we believe, of
"The Field of the Cloth of Gold;" and we have no
doubt that the old reputation of Covent Garden for
pantomimes will even be surpassed by the panto-
mime of 1850.
EKETER-HALL.—To judge from the rush for tickets
for the sacred concerts on the 10th and 17th, the
popularity of Jenny Lind remains undiminished.
The Creation next Monday, and Elijah on Monday
week, will not, we trust, be the beginning and end
of Jenny Lind's present performances. As the
number of tickets issued has been limited by Mr.
Mitchell, Exeter-hall will not be inconveniently over-
crowded.

THE FRENCH GOVERNMENT ort THE SPEECH
OF THE EMPEROR OF THE FRENCH.
THE following is the text of a circular of Count
Walewskii to On French representatives at the Ger-
man Courts, intended to render clear the meaning of
the speech of the Emperor of the French on the
close of the Exhibition :

Sir,—According to what I hear from several points of
Germany, the speech delivered by the Emperor on closing
the Exhibition has, as might readily have been foreseen,
produced a very deep impression. It has not, however,
been everywhere judged of in the same manner, and has
become the object of different interpretations. It has, how-
ever, only one meaning, and the neutral States cannot
mistake sentiments with which they evidently have good
reason to feel satisfied. The Emperor said that he desired
a prompt and durable peace. 1 have no need to enlarge
on this declaration, it speaks for itself, and needs no corn-
ment. In addressing himself to the neutral States, and in
inviting them to unite the expression of their wishes ac-
cordantly with his own, his Imperial Majesty sufficiently
testified the valve which he attached to public opinion, as
well as his estimate of their influence on the march of
events ; and this line of conduct his Majesty observed from
the very outset of the diplomatic conflict which preceded
hostilities. The Emperor always thought that if at that
time they had more strongly expressed their judgment on
the subject in dispute, they would have exercised a salutary
action on the power which provoked the war. Their
position has not changed in the eyes of his Imperial
Majesty, and they may now, by a firm and decided attitude,
hasten the denouement of a struggle which, in his convic-
tion, they might have prevented. It is with this idea that
the Emperor asks them to loudly make known their die-
positions to the belligerent powers, and to place in the
scale of the respective forces the weight of their opinion.
This appeal, which was so well understood and so warmly
received by au auditory, formed of the representatives of
all nations, is, therefore, only a solemn homage paid to the
importance and efficacy of the part which has devolved on
neutral States in the prEsent crisis. WALEWSKI.

PERSIA AND RUSSIA continue their civilities to-
wards one another in a remarkable manner. Orders,
honours, and declarations of indestructible friendship
are daily proclaimed in Asia Minor between the
Persian Ambassador at Tiflis and General Moura•
vieff in his , amp. The rapid advance of Omer
Pacha may 1 osaibly put an end to so pleasant a
state of things.

THE PRESS.

Corttsponbtnte.

THE GOLD DISCOVERIES.

TO THE EDITOR OF "THE DRESS."

Sir,—As you have referred to my opinion, as ex-
pressed in a conversation from three to four years
ago, on the subject of the gold discoveries, I trust
you will allow me, through the medium of your paper,
to restate that opinion, with the reasons which atter-
wards led me to change it.
You say that I confessed to you that with the dis-
covery of the new gold•fields I saw swept away all
hope of the one great object of my life being carried
into effect. My great object was to obtain for the
productive classes, by means of paper money, those
prices which would return them the taxation and
other charges to which they are subjected in this
country beyond others of their class abroad ; and I
cannot see how this hope was swept away by the
gold discoveries, which I evidently regarded as the
means of insuring its accomplishment. The words
which you attribute to me imply something
like disappointment that my own mode of relief was
frustrated. If that feeling possessed me, it was an
unworthy one, and I ought to be ashamed of it; but
lam not conscious that I entertained it. I regretted
the loss of so much valuable time as it then
appeared I might have devoted to other pursuits;
but, as I could not foresee what had taken place, I
had nothing to reproach myself with even in that
respect.
This was my first impression. In a little time I
saw that the object, which I thought we had attained,
still eluded our grasp. The price of corn, for ex-
ample, after this time was lower than it had ever
been since 1780. The President's message, which
contained the announcement of the abundance of
gold found in California, appeared in the Times
paper of December 24, 1848, and the average price
of wheat was for the next four years 41s. per quarter
—viz., 1849, 445. 3d.; 1850, 40s. 3d. ; 1851, 38s. Od. ;
and 1852, 40s. 9d. The average for the thirty years
from 1819 to 1849, which was thought to be low
enough, was 575. per quarter. This great fall of 16s.
per quarter was the more remarkable, as in 1851 and
1852 the gold from Australia, in addition to that
from California, had filled the coffers of the Bank of
England to an overflow. On the 20th of June, 1852,
the bullion in the Bank amounted to 21,587,1751.,
and so fully supplied our active circulation that the
Bank could not issue a single note of any kind on
credit—a thing wholly unprecedented. 1 then saw
that the one great object of my life was not attained
by the gold discoveries, nor to all appearance likely
to be.

I was struck, also, with another consideration,
which I beg to lay before you and your readers. It
is this. If our producers should be able to realise
their taxation, rates, and other charges, by the in-
creased price of their commodities in gold, what
could prevent the foreign producer from obtaining
the same enhanced prices without having the same
need for them? Suppose, for instance, that 60s.
per quarter, or 7s. ed. per bushel, is necessary to re-
imburse our agriculturists and enable them to pay
proper wages to their labourers, will nut the foreigner
take away this price in gold, if our farmers get it,
when he sells his corn in our markets ? Or, if he
should be content with less, as he well may be,
what chance would our farmers have of competing
with him ? For the four years, 1849 to 1852, the
price of wheat per English quarter was in France
30s. 2d., and in Prussia 345., while in England it
was 415., on the average; but even this low price
gave the Piussian 7a., and the Frenchman 55., per
quarter more than he could obtain in his own
country. It amply compensated them, while it was
ruin to the Englishman, who has to pay so much
more than they in fiscal and local charges.
In 1853 wheat was on the average 535. 3d. in Eng-
land, 535. 9d. in France, and 455. 9d. in Prussia. At
this price it would not pay to bring wheat from
France, and it was more profitable to the Prussians
to export it to France than to send it to England.
But, taking the average of twenty-six years, from
1828 to 1853, according to Willich's tables, the price
of wheat per English quarter was in England
545. 10d., in France 455. 7d., and in Prussia
348. 1011.; and with these prices, in gold, the
Prussian would gain 20s. per quarter, and the
Frenchman 9s. 3d., by sending their wheat to Eng-
land, more than they could obtain in their own
country; while the prior Englishman would all the
time receive less by ss. per quarter than he was
paid from 1819 to 1849.
You will not be surprised when I saw what had
taken place under our large importations of gold, and
what was likely to occur in future, if I again thought
that paper money was the true remedy for all our
grievances ; and that without it our producers, manu-
facturing as well as agricultural, would be con-
stantly running a race, heavily weighted, against
their comparatively unencumbered competitors.

No glory I covet, no riches I want,
Ambition is nothing to me;

SATURDAY.

but I do wish most earnestly to see the poorest of
our industrious classes receiving that recompense for
their labour to which they are most justly entitled. I
know they cannot get it unless their employers are
properly remunerated ; and I am very sure that in
the right use of paper money, whether gold is abun-
dant or scarce, the means are at once afforded us of
making our country more prosperous, powerful,
united, and happy, than it could ever be under any
system of gold money.—l am sir, your obedient
servant, JOHN TAYLOR.
_ _

Leon4rd-place, Kensington, Dec. 4, 1E455.

Dam t:larlat anb tit 3ntellignict.

FRIDAY EVENING.
THE Money Market has again been buoyant this
week, as the reports of peace have gained strength ;

and it is now acknowledged that pacific negotiation
is in progress under the superintendence of the Em-

peror Louis Napoleon. Opinions are much divided
as to the probable result; but it seems highly im-
probable that a new negotiation would be opened
unless there was a tolerably good prospect of bringing
it to a satisfactory conclusion.
Consols were buoyant on Monday. For money
they were first quoted 89e to f. From this they re-
ceded to 89i, but the final transactions were at 89i
to i for money, and 90 to for the 10th of January.
... __ I . .

A decline in Clio Corn Market had some favourable

influence. _ Consols on Tuesday opened at a further

advance of nearly a half per cent., and the first
transactions were at 891 to 90. From this they went

to 901, but several realisations then took place, and
the final prices were 891 to 90 for money, and 901
for the 10th of January.
On this day there was a considerable amount of
business done in Foreign Securities. Iu Turkish
Six per Cents. a further advance took place, bargains
having occurred at 851 85, 851, 88. The Four per

Cent. Guaranteed NON Scrip was dealt in at 21
for money, and 21. f for the account; the final quo-

tation was 21 to Idiscount.

Public Securities rose again on Wednesday. Con-
ols, after opening at 89k, steadily advanced to 00i to
for the present account, and 01 for the ensuing

settlement.
In Turkish Stock there was little alteration.
Thurday was account day ; the settlement was
heavy, but no particular pressure for money was

experienced. The rate, however, was high, 61 per
cent. having been generally paid for loans on Govern-
ment securities till the beginning of January.
Consols opened with steadiness at the closing
prices of the previous evening, and subsequently
advanced to s point higher than any recently at-
tained. A sudden and very considerable reaction
occurred before the close of business, from which
there was no recovery. The first quotation was 901
to 4 for money, and there was an absence of any
material variation until the middle of the day, when
the market assumed an appearance of increased
buoyancy, and transactions took place at 901. Two
or three parties engaged in the late speculative pur-
chases then came in as sellers, and the consequence
was an almost immediate fall of five-eighths per
cent., the final operations being at 90 to 4 for money,
and 901 to 1 for the 10th of January. The heavi-
ness continued to-day, which may be attributed to
the payment of differences having in one or two
cases been attended with difficulty. Some heavy
losses have been sustained. Controls for money
opened at 894 to 894, and advanced to 894 to 90.
At the close there was more firmness, and the last
price was 904. The account (Jan. 10) prices were i$
first 904 to 901, then 904 to 904, closing at 904.
Foreign Securities were mostly flat. Turkish Six
per Cents., after being 841 4, were done 84 to 841,
and the New Scrip 21 discount.
Exchequer Bills have continued with much steadi-
ness ut Os. to 2s. discount.

Foreign Stocks have been firmer this week. Tile
Russian, Four•and-a-Half per Cents. Vera to-di
quoted at 89 to 90.
The Shares have been firmer this week, though
the Market has been in an inanimate state.

The Bank returns in this evening's Gazette show
that the bullion in both departments has advanced
to the extent of 87,0001. The return does not pre-
sent any other noticeable feature. The item of
" Other Securities" shows a trifling increase.
A public meeting to discuss our monetary system
was held at the London Tavern on Wednesday. The
chair was taken by Mr. Bennoch, who attempted to
explain that the origin of the present distress in the
manufacturimt districts arose entirely from the per-
nicious operation of the currency laws. The leading
points of Mr. Bennoch's argument were that, as Peel s
act based our present monetary system upon the popu-
lation, the currency, which was 25,000,0001. in 181'i
ought at least to be 40,000,0001. now ; and that
r ade were to be accepted as the basis of operation.
he currency should be at le set, 100,030,CC01. ; v