The Express.
London, England, 1864-10-08 00:00:00

THZ IitIIHITIUL or FORZION 111A138 TO BAkON

Da JELLABA; AT TURIN.

"Park, Sept. 23, 1864.
"M. le Baron,—You are aware that the Empe-
ror's government has decided upon entering into an
arrangement with the cabinet of Turin to settle the
conditions upon which the evacuation of Rome by
our troops should be carried out. I have the honour
to send you annexed the text of the convention
which was signed for this purpose on the 15th inst.,
between the plenipotentiaries of his Majesty the
King of Italy and myself. This convention has re-
ceived the ratifications of the Emperor and of King
Victor Emmanuel.

" I believe it useful to recall briefly sours of the
circumstances which have preceded the conclusion
of this important act, and to point out to you at
the same time the reasons which have determined
tee Emperor's goverrment to depart !rem the plea
it had hitherto been forced to oppose to the sug-
gestions of the Italian government.
" When called upon in the month of October,
1882, to explain myself upon a communication
from the Turin cabinet, which, while affirming the
right of Italy to Rome, claimed the restoration of
that capital and the dispossession of the Holy
Father, I was obliged to refuse to follow it upon
that ground, and to declare, iu the Emperor's name,
that we could not lend ourselves to any nego-
tiation which should not have for its object the
preservation of the two interests, which equally
recommend themselves to our solicitude in
Italy, and one of which we were quite decided
not to sacrifice to the other. After having thus
frankly explained upon what conditions it would
be possible for us to take into consideration the pro-
positions which might be made to us subsequently,
we added that we should always be found ready to
examine them when they should appear to us of a
nature to bring us nearer to the end we desired to
attain. It is in this spirit that we have received
the various overtures which have since been made
to us, although they might not respond with
sufficient completeness to our intentions to serve as
bases for an acceptable arrangement.
"We followed, at the same time, with great
interest the progress which diaplayed itself in the
general situation of Italy. The Italia': government
suppressed with resolution and perseverance the
anarchical passions, already weakened by the
effect of time and of reflection. Moderate ideas
tended to prevail in better minds, and to
pave the way to serious attempts at agreement. In
these favourable circumstances the government of
King Victor Emmanuel has determined upon a
great resolution. Pre-occupied by the necessity of
giving more cohesion to the organisation of Italy,
it acquainted us with the political, strategical, and
administrative reasons which determined it to
transfer the capital of the kingdom to a more
central point than Turin. The Emperor, appre-
ciating the full importance of this resolution, and
taking into account both the considerations 1 have
just stated, and the more conciliatory disposition
manifested by the cabinet of Turin, has thought
that the time had arrived to settle the conditions
which would permit him to put an end to the
military occupation of the Roman States, while
:t!the security of the Holy Father and his pos-
The Convention of the 15th September, in
our opinion, fulfils all the necessities of the respective
situations of Italy and Rome. It will contribute,
we hope, to hasten a reconciliation we desire with
all our hearts, and which the Emperor himself has
not ceased to recommend in the common interest of
the Holy See and of Italy.
" As soon as the progress of the negotiations per-
mitted us to hope for their success, I took care to
communicate to the Court of Rome the considera-
tions by which we bad been guided in this matter ;
and I addressed to his Majesty's ambassador the
despatch of which you will find a copy annexed.
I hastened to announce to him the signature of the
Convention, and to acquaint him with its clauses, in
order that he might communicate them to his Holi-
ness's government.
I hope that the Court of Rome will appreciate
our motives and the guarantees we have stipulated
in its interest. If, at first sight, it was disposed to
view eith but little favour the arrangements we
have just concluded with a power from which it is
still separated by the memory of recent disagree-
ments, the signature of France will at least, we
doubt not, give it the certainty of the loyal and sin-
cere execution of the engagements of the llith of
September.—l am, trc.,
" Drumm DE LIMES."

THE BANK FirrraN.—The Bank return pub-
lish.' on Thursday evening seems to have created more
uneasiness than is warranted by its actual character, and
the extreme seuttivenere shown with regard to it is simply
an indication that people had previously allowed themselves
to be too sanguine as to the rapidity with which a nisi-
dewed the recent pressure might be expected to take place.
The dimiuutiou of the bullion in each of the nearest corns
poodiog weeks of the last two years was more than
400,000 f., while on the present occssioe, owing to the sums
sent in from foreign arrivals, it has been only 123,00 W. As
far as this item is concerned, therefore, the account
is favourable, and precisely such as wee to have
been expected. With respect to the diminution I. the re-
serve the comparison merely with the corresponding week
of last veer is leas satisfactory, but if the comparison be
extended over a fortnight, instead of a week, it will be seen
that the movement bas been perfectly normal. In the
fortnight comprising the last week in September and the
first week in October of the year 1860, the diminution
in the reserve was 1,360,000 f.: in 1861. it was 1,059,000/.;
in 11362, 1,45,01.10/. ; in 1663, 1,591,000 J., and this
year it has been 1.189,000 f. It Is only the
fact that is each of the yen* preceding the pre.
sent the original amount from which the reduc-
tioe took place was larger than on this occasion
that gives the decline sow shown even the slightest special
significance, and as the rates of discount at those respective
periods ranged between 2 and 4 per cent., while it is now 9
per cent., the difference thus existing may be regarded u a
safe counterpoise. Whatever apprehensions people may
entertain the fact cannot be set aside that during the past
two or three weeks the money in the country has been in-
creased by a fair supply of foreign gold, which has been re-
tained ; sod that, on the other band, our actual currency re-
quirements have bean diminished, not only by the removal
of a large amount of questionable piper from the discount
market, but by a general countermanding of specu-
lative orders and a contraction of biomass in all quartets.
This is 11 period of the year at which the resources of the
bank always reach their lowest point, and, of course, as
the directors are bound to protect their reserve from fall-
log below a certain total, it will be in the power of the
bioks and other establishments, by withdrawing notes io
blind fright, to create the very evil they dread, of an ad-
vance of the rate to 10 per cent. One especial reason for
regarding such a measure with regret would he that, after
baring increased any immediate ieoonveniroce that may
now prevail, it would cause the subsequent reaction to be
more sharp, and consequently less permanent than might
otherwise be hoped.—Times.
DEATH OF AN ECCLOSIASTIC•L CELEBEFlT.—ln-
telligeocii has been received of the death of the Hon. and
Hey. George Spencer, Father Ignetins of the Order of Fu-
sionists. The deceased, who was the youngest eon of the
second Earl Spencer, and brother of the third earl, who was
better knows by the courtesy title of Vila:omit Althorp,
was born in 1799, and was edaeated at Eton sad Trinity
College, Cambridcs, where he graduated is 1820. Is 1823,
having entered pneet's orders, be was presented by Earl
Spencer to the family liner of &lectern, near NortUmp-
too, which be held until 1830, whey he broke off all cos-
nation with the established church, and jibed the eren-
mimics of the church of Home. He studied for some time
at Home, sod then bourne • priest of that thumb, events.
ally joining the Order of Pariste, of which, up to the
time of his death, he was a devoted member. The hen.
and rev. gentleman ocusioeally preseeted a eerkies appear.
rice in the streets of Logsdon in his vaiddleage eestrune,
his naked legs, and his feet strapped rip with woods.
radii&