The Express.
London, England, 1862-08-25 00:00:00

THE EXPRF SS, MONDAY EVENtICG:. ',.AUGUST 25, 1862.

OW. Sll LAI ANu CV:2S great body of the working clergy in the Church.
pußs EXTRACT of CALVES' FEET,
For Invalids and Cullairy Use. Nor does the principle appear to have yet
Sold la ed., Is., b., and te. west; by WI chemists, grocers, &e. lost any of its power, as a single dendothiation of
MANUFACTORY, 23, LITTLK PORT
LA'
iLelesLd.' W. Dissenters has already raised a special fund
amounting to more than a hundred thousand
pounds for the purpose of erecting chapels and
establishing schools in commemoration of the
event.

HENRY BRETT and 00.,
Brandi Distillers and Wine Mendfantn
ROLBOLN-BARN, and 30, RRORNTATRRET, WATERLOO.
FLACK.

SEOOND-RAND PIANOFORTES.
CRAMER, BEALE, sad WOOD hare a large eaeortment
of second-head Planotertee, by the 00114 esteemed east." et
rosily reduced prlese.-111. Iterrembetreet.

The Act of Ejectment thus destroyed the hope
which animated the more liberal and enlightened
prelates of the Church in the seventeenth century
—that the Established Church might continue to
embody and represent the religious life of England.
But it is impossible not to see that it has exercised
a more disastrous influence on the Church than
the mere loss of numbers and influence. It helped
directly to destroy her spiritual freedom and power
of independent action. From that day she lost all
voluntary command over her own movements, and
became to • disastrous extent the creature and in-
strument of a superior power. Her eager
but short-sighted partisans two hundred years ago
bartered her spiritual freedom for temporal power,
and the fetters which in a moment of triumph the
Church exultingly held out her hands to receive,
bind her still. All the more liberal, earnest, and
enlightened sections within the Establishment
feel this, and desire to have these bonds relaxed.
They know that the real power of the Church is
weakened by these injurious restrictions. They
justly feel that its power depends on the grand
body of Christian doctrine, supplied by the
writings of its theologians and divines, on the
depth, simplicity, and spiritual power of its
services and liturgy, on the exquisite beauty
and solemnity of its worship, and the self-denying
zeal and devotion of its ministers. All this would
still remain if the severity of subscription were re-
laxed, and its formularies revised. And there is
no reason why the true friends of the Church
should not celebrate the present year, as they
wished to do, by a united effort to accomplish
these results, and thus remove some of the ad-
mitted evils which inconsiderate zeal inflicted two
hundred years ago. The old leaven of intolerance,
however, still meets every plea of wider compre-
hension by a more determined effort to retain
every remnant of injurious patronage, every form
of antiquated abuse, and every vestige of recog-
nised injustice that yet remains to weaken and
deform the Church.

Fu N, EVERY WEEK,* ONE PENNY.

Zhe erareogs.

To prophesy smooth things is certainly much
more pleasant in itself and much more graciously
accepted than the hard discussion of adverse con-
tingencies, but, to speak truth, there is as yet no
new element of hope in the great cotton question
—there is no light descending on this now de-
pressed branch of trade. What has come to pass
is simply what had been long foreseen, though
those concerned in the trade refused or neglected
to guard against it. Even now, when the weight
of distress has fallen upon the population, and
when some consolation might be sought in the old
adage that " when things are at the worst
" they must mend," the journalist who wishes
his remarks to be palatable had better
turn to some other topic than that of cotton. The
only clam who thrive are the speculators. Those
who have had the nerve to gamble in cotton and
its manufactured products have made immense
profits. Speculative shippers of goods to Indian
and other foreign markets have been marvellously
favoured by fortune.—even beyond their deserts.
At home it is only legitimate business that does
not thrive, while those spinners and manufacturers
who have departed from the strict sphere of their
vocation, and have turned speculators, have
realised gains so large that we would fain hope
the pressing claims of charity at this
season will meet with a proportionate
response. It would be folly to shut our
eyes to the fact that the prospects of employ-
ment in the cotton districts are at present worse
than they have been at any previous period. The
distress is as yet only beginning ; whether it has
reached its climax may be seriously questioned.
We would request the attention of our readers to
• few salient facts which will best inform them of
the position of this vast interest. In the first
place, there is now scarcely any cotton at all in
first hands in Liverpool, the great mart for the
raw material. The total held is only 82,420
bales, whereas at this date Lest year it was
912,130 bales. The speculative excitement in
the market last week was moat extraordinary.
The transactions have reached between 110,000
and 120,000 bales, representing perhaps •
value of about two millions sterling. The mar-
ket reports testify that the week's advance in
the prices of some descriptions is to an extent not
witnessed since the year 1825, and the force with
which this movement will operate may be inferred
from the fact that it comes in addition to a con-
tinuous rise of so many months' duration. This
new advance will be the signal for a further
I' enrtailment of employment over whole dis-
tricts. The supply of American cotton
is rapidly becoming extinguished, and these sorts
have consequently risen during the past week no
less than 4d. to sd. per lb. For the future, Ameri-
can cotton, as being quite a " fancy" article, will
command a "fancy" price—indeed, just such a
price as the limited number of holders may choose
I to demand for it. Accordingly an interesting revo-
lution is taking place in the manufacture. American
cotton passes out of consumption, and the small
quantity remaining will be husbanded and used
only in those fine articles which are worn by
the wealthier classes of society. The cotton of
Surat—the description now chiefly entering into
consumption—cannot be worked into the finer
sorts of yarns and goods ; before it will become
available for them its quality must be greatly im-
proved. It is very suitable, however, to coarse
fabrics, and with coarse fabrics we must be con-
tent until such time as America sends her produce
here again, or the cotton of other countries im-
proves in quality as well as increases in quantity.
To gain • just idea of the course of prices of
the raw material, we have only to compare the
present quotations in the Liverpool market with
I those current at former periods. Middling New
Orleans is now worth 230. per lb. ; at this date
last year, although the market was then disturbed,
it commanded only 81d. Middling Surat, which
last year was at 5t,d., is now worth about
14d., while middling Egyptian has risen in
the interval from 81d. to 20}d., and
middling Pernambuco from 9d. to 22}d. Carrying
the comparison farther back, we find that the price
of fair Upland, now at about 240. per lb., and
which at this time last year was 9d., was only
6P. in August, 1860, 7,P. to 7id. in 1858 and
1859, and did not exceed 81d. in August, 1857,
amid all the speculation in produoewhich preceded
the commercial crisis of that year. It is another
note-worthy feature that the prices of yarns and
goods have not risen by any means in pro-
portion to the advance in the raw material.
The discrepancy has hitherto tended to pre-
cipitate the closing of the mills, owing
to the unremunerative prices which were
offered to spinners and manufacturers, and now
that so many mills have been closed, with little
prospect of the owners taking courage in the pre-

sent sdais of the trade to re-open them, specula-
tion ifepa in, and sees occasion fori running up
the prices of goods to a point more in accordance
with the price of cotton. This is but another
illustration of the abnormal condition of the trade,
of the premiums and fine openings offered to spe•
culation and gambling, and of the way in which
legitimate traders " get cut to pieces" (as the
phrase is) in the conflict.
It seems highly probable that henceforward,
I and more particularly after a few scores of addi-
tional factories shall have been shut up, and the
workpeople thrown upon the poor rates, the
articles produced from cotton will attract specula-
tive attention in even a larger degree than the raw
material itself. Cotton has had its run and has
outstripped the manufactured fabric ; the turn of
the latter may now come. The wild excitement
reported by the past week's despatches as pre-
vailing at Bombay, where all sorts of
imported cotton goods have experienced an
enormous rise, indicates what may occur in this
direction. After overstocking the markets of the
world in the must reckless manner, our shippers
find the venture succeed beyond their most
sanguine expectations. We believe that the
stream of capital which is flowing back from the
gradual realization of these old enormous consign-
ments has much to do with the favourable ten-
dency of the foreign exchanges, while the enforced
retention here of the many millions sterling which
we usually send abroad in payment for cotton
further explains the remarkable ease in the money
market.

LAT r.toT l • TELIAUENUIL

(D49,pa's rusozANß.)
DECLARATION OF THE "MONITEUR" ON

We have shown how small is the present stock
of cotton, and, looking to the immediate future,
the prospect is gloomy in the extreme. Chief re-
liance is placed upon the supply of Surat sorts,
but it is not by any means encouraging to find
that the total quantity from this source now afloat
and on the way to England is only 90,000 bales
more than it was at this time last year, being
390,000 bales, against 300,000 in 1861. From
no other source can the deficiency now indi-
cated be made up, save with time.

THE ROMAN QUESTION.

PARIS, Auouerr 25.

The Moniker of this morning say; :-"Several
newspapers have asked what will be the attitude of
the Freuoh government in view of the agitation
which now prevails in Italy. The question is so
clear, that any doubt seems impossible. In view
of insolent threats, and the possible consequences
of a demagogic insurrection, the duty of the French
government and its military honour oblige it more
than ever to defend the Holy Father. The world
must be well aware that France does not abandon
those to whom, when in danger, she extends her
protection."

After a glance at the revolution of 'B9 and the
saturnalia of '93 (France having failed to take the
warning given to it by the previous revolution of
England), the barricades of 1830, and the days of
June in 1848, " a melancholy necessity," it counsels
the Italian government to persist in its energetic reso-
lutions, and "in the name of true patriotism to reduce
to inaction that incorrigible party which would
govern by perpetual insurrection, and be a power
within a power ; the party of which Mazzini is the
chief, and of which Garibaldi, unhappily for his
fame, has consented to become the instrument."
Then comes the bouquet of the article. "For let
it be well understood, it is not the possession of
Rome, it is not even the possession of
Venice, which will restore calm and peace to Italy.
Is it not well known whither tends the ambition
of the Coryphei of Mazzinism, and must not they
be credulous indeed who suppose this party will
be satisfied with Rome and Venice, and renounce
the triumph of their insensate theories 1 It is
quite evident to all who know the history of
political parties that, in possession of Rome and
Venice, their pretensions will but increase."
We may expect to see a succession of
such articles in the semi-official papers, all
having for their aim to counsel more or less dis-
guisedly the " Decemberising" of Southern Italy.
What is to be done with this glorious portion of the
Peninsula, when it shall have been "Deoemberised"
—whether it is to be Murstised, or Jeromised, or
simply " annexed," may possibly also be dimly
shadowed forth in the course of these articles to
those who read between the lines. The Opinion
Nationale has already taken the alarm, as we learn
in an article in yesterday's number, from the pen of
M. Gueroult, on the subject of Italy and the new
journal La Prance. The following extract is suffi-
ciently significant, being, as it is, a voice from the
Palais Royal :
To suppose that La Franey speaks seriously, and that it
believes a single word which it says, is to attribute to that
journal a simplicity it certainly has not. There are many
people who think La France not a bit less semi-
official than the Constitutionnel, only that the two
do not hang on the rme side. The patrons
and inspirer, of La France are named in whispers ; but
we shall keep a discreet silence thereon. As to its policy,
that is not so very simple as may be thought. It does not
look for the Pope's conversion to He liberal programme,
neither does it expect, as far as can be judged from ita words,
to reconcile by means unknown, uncomprehended, and in•
comprehensible, the temporal power and the unity of Italy.
It well knows that is a political absurdity ; so it does not be-
lieve in it any more than we do. Neither does it admire the
government of cardinals any more than we do ; nor has it the
least faith in the endurance of this thing without a name.
All the noise it makes in favour of religion, of the
Holy Father, of the two hundred millions of catho-
lic', is but a sign-board. But behind this sign-
board is some merchandise of a far more serious charac-
ter. This merchandise we beg leave to unpack. La France
has not accepted Italian unity. The French irovernment
acknowledges the Bing of Italy, but the journal La France
does not. It wishes the annexation had not taken place.
! It regrets that Mews. de Reixel and Poniatowaki did not
succeed in preventing the annexation of Tuscany ; it regrets
that Grxibaldi was not taken and hanged before he got to
Marsala,; it regrets that Francis 11. was unable to hold
Gaet►, where it protected him with all its good wishes ; it
rejoiced when be went to Rome; at one time it hoped
much from brigandage, and upon the misdeeds of which
it closed its eyes. While M. de Lavalette sought in vain
to lead the Pope's mind in a liberal direction, it rejoiced
that M. de Guyon held an opposite language.
Lastly, it now stands up against the Constitutionnei

and treats it as revolutionary. When intelligent men per.
slat in repeating nonsense, one must resign oneself to seek
their meaning behind their language. So long, then, as La
France obstinately insists upon the French occupation of
Rome, we must admit that there is a double bottom in the
business, and endeavour to examine into it. La Prance,
then, hopes (may the event prove it is in the wrong !) that
in persisting in the Roman occupation against all right and
reason we shall wear out the patience of the Italians.
Either we shall throw them into civil war, or we shall unite
them against us by a feeling of common irritation. Then
a cry of ingratitude will be raised, the defiance which
they fling down will be taken up, Italy will
be crashed, a second and perfected edition of 1849 will be
repeated, and out of the fragments of unity a confederation
will be formed, of which Austria will hold one end by
Venice, and we the other by Naples. La Frame (we mean
the journal) will triumph, sad fools who, like us, have
believed in a disinterested policy in the creation of a great
kingdom, the birth of which should put an end to
the secular rivalry of France and Austria—such fools,
we say, will be confounded. But, it will be said,
all this is an intrigue—it is foul treachery—it
is the disavowal of our official policy, of the acknow-
ledgment of the kingdom of Italy. We do not deny
all thin. On the contrary, we say it is an intrigue. But
who knows whether such en intrigue is not now on the
point of succeeding? Ouly let the hour of difficulties and
complications arrive, and it will be seen what this intrigue
will weigh in the destinies of France. It is a/I very well
for the Conaritutionnel to disavow. Who can assure us
that the affirmations of La Prance are not worth as much
as the denials of the C,,netitationnel l In the presence of
this quarrel, where the future and the honour of the country
are engaged, we look for a word in the Moniteur, but the
.Voniteur is silent. " L'Arche-sainte est muette et ne rend
plus d'oraclea." It seems that henceforth the word is with
events. Let us wait.

The departure of the King of Italy for Naples is
generally looked upon with satisfaction here. The
confusion of accounts renders it difficult to ascertain
the immediate intentions of Garibaldi ; but one
thing is evident: that is, that while Victor Em-
manuel is in his own city of Naples there is no
great fear of his magnanimous ally making a move
thither in the cause of "order."

We have a repetition of the famous Roman tele-
gram given in Bid/ices Correepowlemee, which will,
no doubt, have reached you. M. Gueroult simply
observes upon it: " What thinks the Con-
etitutionnel of this 1" I perceive that •
private correspondence from Rome, in the
Temps, alludes to such an interview as having
taken place on Monday last, between the
Pope and MM. Lavalette and Montebello. The
writer says all Rome is asking what took place, and
that it is generally supposed the ambassador &s-
-auna' the Pope of a present, and not an absolute
and indefinite, protection of the states of the church
against invasion.

Prior to Prince Alfred's excursion to the
eolith, the Emperor Alexander accompanied him in visit.
to the fortress of Crenated; the docks, and the naval
hospitaL When his Majesty paned the English squadron,
ha was saluted by all the vessels, and the Huainan frig►te
Gromoboi returned the salute, all the Russian vessels at
the same time hoisting the English flag. His Majesty went
oil board the English vessel, St. George. The Emperor and
the Prince afterwards prooseded to the Menchikoff and
Oranienbaum port The Russian sailors give flta daily
to the crews of the English vessels.
The muse of M. Horace Vernet's illness is said
to be the following :--.9onie years ago he fell from his horse
and broke a rib, which was badly set, and a fresh fall which
he had a few weeks ago broke the stone rib, and brought
on ► painful ►nd alarming tumour. Dr. Jobert de Lam-
belle was obliged to perform an operation, which appssra
to have sucoeeded, and has led to an improvement.

The tomb in white marble, erected in one of the
chapels of Notre Dante, to the memory of Mgr. Afire, killed
at the barricades io June, 1848, is (says Gifieisent) now ter-
minated. The archbishop is represent in hi soutane, with
the olive branch in his hand, and in the act of falling mor-
tally wounded. . . .

The GaAte du Midi aaye that before quitting
Felines Said ['ache will pus some days at the chateau of
Belle Eau, near Amasses (Drome), which belonged to this
tate Mgr. fiLbour, Archbishop of Paris, sod is now the pro-
perty of M. &anti, founder of one of the most important
Egyptian commirehd boom.