The Express.
London, England, 1863-10-12 00:00:00

MITTANfiI

Two Immo, BELIYTDr.aiGRAVE-11111 ORRAT
GHOST IMICT.--Blnglng by Sam Collins, Mr. Randall, and
Mao. lison.—And LADY AUDLRY'S WRIST. Messrs.
Ramaolds, Cranford, and Parry Mimes Miles and Downing.

NIGH NAT= AT LONDON 3111 De
1 DR Warthog. lh . Ih. Mm.
To4IOIMOW Morming, lb- 24 a.

LONDON, MONDAY, OCTOBER 12.

THE weekly Bank return shows that the
forces which have for some time operated against
the increase of its reserve are still predominant. In
the banking department there has been a decline of
672,000/. in the reserve of notes and coin, while in
the reserve of coin and bullion in both departments
there is a decrease of 421,0001. In the face of a
full rate of discount, the liabilities of the Bank
have now reached 23,180,0001., while the reserve
is 7,737,000/. There is nothing in this return
taken by itself to warrant anxiety, although there
is enough to inculcate • salutary caution. Its
publication, however, has been followed by a
much more unfavourable return of the Bank
of France. It was well known a few weeks
ago that that institution was not in the
best position ; but a fortnight ago an an-
nouncement was made on very high authority in this
country that the Bank had surmounted its finan-
cial difficulties. The new return shows that this
representation was wholly erroneous, and those
who were induced to believe it and publish it
in good faith now justly complain of the
obscurity in which the transactions of the

Bank of France ace shrouded from one
month's end to another. The decrees in the coin
and bullion of the Bank is no less than 1,720,0001.,
while the amount of the bills discounted has in-
creamed 2,320,0001. These figures show that the
advance of 1 per oent. in the rate of discount made
the day before their publication ought to have taken
place weeks ago. And under a regime of
publicity this is what must have happened.
As it is, the natural effect of au unfavourable re-
turn is aggravated by the suddenness of the dis-
closure. Although neither Bank holds so much
bullion as it did this time last year, the difference
being for the two establishments nearly five and a
half millions sterling, this sum is but a fraction
in comparison with the gain to the two countries
from the abundance of the wheat harvest. In ,
fact, England has already profited to more than
that extent by diminished imports of foreign corn.
It will be for the Banks to take measures to pro-
tect their reserves, but the soundness of the gene-
ral commercial and financial position of the country
is toe well established to give room for alarm.

The stock and share market has this week illus-
trated the soundness of the observations made
last Monday in these columns. The rank luxu-
riant speculation in the low-priced and non-divi-
dend-paying foreign stocks has been checked by a
veritable panic, which has somewhat prejudiced
securities of a much higher order. The market
has, no doubt on the whole, benefited by this sharp
purification. It is to be regretted that the effect
of a wholesome lesson should be to any extert
diminished by the attempts of a portion of the
press, from which better things might have been
expected, to give a character of legitimacy to
speculations as adventurous as any that can be
imagined, and the more pernicious to the public for
the political projects with which they are com-
plicated.
During the week the SICIIITAILY of STATE for
INDIA has launched the first portion of the new
Four per Cent. India Stock. The acceptance of
an lodia Stock which may almost be called per-
manent, at that rate of interest, and upon the sole
security of the Indian revenue, is a proof of the
increasing credit of the Indian Government Owing
to peculiar circumstances the unparalleled pros-
perity of that vast dependency stands in the closest
connexion with the condition of our money market
at the present time. The American war deprived
us of a customer, such as we could hardly hope to
find again. America not only supplied na with
the staple of our leading manufacture at the
cheapest rate, but took our commodities in
enormous quantities. The loss of each a
customer was a misfortune hardly to be
estimated. Even supposing that we could
supply the want of cotton from India, it was
to be apprehended that the drain of bullion from
this country to pay for Indian cotton at the en-
hanced price would lead to the moatserious derange-
ments. India was far off, and returns were slow.
America was witli;n a fortnight's sail, and every
packet had brought us both cotton and gold. Some
of the iooonveniences thus contemplated arose,
and we are now suffering from them. But they have
been mitigated to an extent that nobody could
have imagined. Our demand for cotton has
enormously enriched India, as a comparison of the
value of the cotton we imported from that country
in the seven months of the three lad years will
show :

1861. 1862. 1663.
2,568,9814 4,883,8994 11,9t9,9991.
It was not to be expected that the Indian demand
for British manufactures would expand in the ratio
of these figures, and to enlarge our remittances
of bullion in the same proportion would have been
difficult. It is under these circumstances that we
are enabled to see how clearly good government is
connected with material prosperity. Our policy in
India has become of late years one of peace and
vigorous retrenchment of unprofitable expexditure.
Under the operation of this new system, the re-
venues of India have increased and been so well
husbanded, that we are now drawing upon India to
the extent of 8,000,0001. a year, instead of from
3,000,0001. to 4,000,000/. as we did before
the mutiny and the cotton crisis. The
last drawings were at the rate of 740.0001. a
month. Them remittances from India represent
railway interest, pensions, charges for the Home
Government, military expenditure in Ragland,
and so on. If the 'Ethan Government had not
owed us this money, or had been unable to pay it,
we must have paid for the new cotton in specie.
This great evil has been to a great extent avoided.
Formerly the Indian Government ran into wars
and ran ep debts. A different policy is now fol-
lowed, and the Minister for Indi► is able to borrow

money on the unaided credit of that oonntzy, at a
rate which many of our home railway companies
may envy. _

DEATH OF LORD LYNDHITRST.
(THIS DAY.)

We regret to announce the death of Lord Lynd-
hurst. His lordship died at five minutes to
3 this (Monday) morning, at his residence in
George-street, Hanover-square.
The late Lord Lyodhurst was born in Boston,
Mass., May 21, 1772, being a son of the
artist Copley. He went with his mother
and sisters to England in his third year,
and was educated under • private tutor and
at Trinity College, Cambridge. He received
the degree of Bachelor of Arts in 1794, when he
shared with one associate the highest honours of I
the university, and subsequently became a fellow
of the college. His appointment also of " travel-
ling bachelor" gave him an opportunity of visit-
ing the United States and Canada. He returned
to England in 1798, was called to the bar in
1804, went on the Midland circuit, and rose slowly
to eminence in his profession. He had obtained
the leadership of the circuit, when, in 1817, he
attracted general attention by his part in the de-
fence of Watson, charged with high treason as one
of the rioters at Spa-fields. He was also in that
year counsel for the crown in the prosecution of
Brandretb, who was executed for high treason as a
ringleader of the Derby tumults. Though his
politics had originally been liberal, he entered par-
liament in 1818 under tory auspices, was soon after
knighted, and was Solicitor-General in the Liver-
pool administration from 1819 to 1823. In 1820
he assisted in managing the trial of Queen Caro-
line by the House of Lords. He succeeded to the
Attorney-Generalship in 1824, was returned in
1826 with Viscount Palmerston as member for
the University of Cambridge, and • few months
later was made Master of the Rolls. In 1827 he
opposed the bill for Roman catholic emancipaion,
though under Mr. Canning, who immediately after
formed • cabinet on liberal principles, he accepted
the Chancellorship on the retirement of Lord Eldon,
and was raised to the peerage as Baron Lyndhurst
of Lyndhurst (April 27). He retained the great
seal through the Canning, Goderich, and Welling-
ton administrations, favouring the reformatory
views of the first and the concessions of the last,
advocating in 1828 the repeal of the Test and Cor-
poration Acts in opposition to Lord Eldon, and in
1829 supporting the scheme of catholic emancipa-
tion. He resigned his office on the accession of
Earl Grey to power in 1830, but this ministry ex-
tended to him in 1831 the judicial station of Lord
Chief Baron of the Exchequer, which he held until
1834, and in which he earned high reputation as a
judge. He was one of the most strenuous oppo-
nenta of the Reform Bill, was prominent in effect-
ing the defeat and consequent resignation of Earl
Grey's ministry on May 7, 1832, and was the chief
adviser of the Duke of Wellington in his fruitless
attempt during the next five days to form a tory
cabinet. On the formation of the fint Peel ministry
in 1834 he was restored to the Chancellorship, and
relinquishing it after the resignation of this ministry,
which soon followed, he became one of the most
effective leaders of the opposition. In 1835 he
proposed in the House of Lords amendments to the
Municipal Reform Bill, which were unexpectedly
accepted by the Commons, and which proved less
injurious to the operation of the law than was anti-
cipated by the tory party. He efficiently resisted
the claims urged by the Roman catholic* of Ireland,
and became especially formidable from his custom
of reviewing annually the measures of each parlia-
mentary session in speeches remarkable for their
sarcasm and brilliancy. When Sir Robert Peel
returned to power in 1841, the great seal was for
the third time offered to Lord Lyndhurst. The fall
of the Peel ministry in 1846 he regarded as the
termination of his public life ; but he since
then occasionally took • prominent part in
the debates in the House of Lords. He
gave his cordial support to the Derby ministry in
1852, advocated the war with Russia, made a
masterly exposition of the policy of Prussia in
1856, and denounced the peace concluded in Paris
in 1856 as a virtual capitulation on the part of
England. He continued in his advanced age
one of the ablest orators in parliament, and one of
the chief advisers of the conservative party. By
his first wife, widow of Lient.-Col. Charles Thomas
who fell at Waterloo, he had a son and four daugh-
ters. The son, John Singleton, horn in August, 882 4,
died in September, 1826. Hiseldest daughter, Sarah,
was born and died in 1820. Another daughter,
the Hon. Susan Penelope Copley, born 23rd July,
1822, died 9th May, 1837. The eldest survivor of
his daughters is the lion. Sarah Elisabeth, born
18th March 1821, who married, Jan. 8, 1860,
Mr. Henry John Selwin, the unsuooeesive conser-
vative candidate for Malden at the last general
election, and eldest son of Sir J. T. Ibbetson-
Selwin, of Down Hall, Essex ; and the other, the
Hon. Sophia Clarence, born April 15,1828, married
Mr. Hamilton Beckett on the 14th of December,
1854. Lady Lyndhurst died in Paris on the 15th
of January, 1834, at the Hotel du Rhin, Place
de Vendtime, and on the sth of August, 1837, his
lordship married in Paris Georgians, daughter of
Mr. Louis Goldsmith, by whom be leaves Wine
an only daughter, Georgiana, born May 11, 1838,
and married June 25, 1863, to Mr. Charles Decline,
M.P. fur North Essex.

The Marquis of Westminster has arrived at
Ditztoo, from Macomb; Donet, for the bum& of his
health.

The Earl and Countess of Devon have been-I
entertaining a large party at Powderham Castle, their seat
in Devonshire. Among their gusts have bee. the Arch-
bishop of Canterbury sad the Mises Langley.
The Marquis and Marchioness of Lansdowne
arrived at Lansdowne House on Saturday, from Bowood,
Wilts.

The Lord Lieutenant of Ireland, who is on a
nut to Balllassloe, sad was the gust of the Fart of Clas-
warty at Garbally, returraid to Datdis on Friday among.
The great annual fair of Ballinseloe termin-
ated os Friday by the show sad sale of thee united
to the wants of small farmer The coustry fair, as it is
called, was good is every »speck and a fair Wind/ was
teaser* i.

A Paris letter says :—" One of the favourite
SOITIONS of the day, Mille. Fix, has made the conquest
of IL fiabitier, the wealthy administrator of the Credit
Mobilier, sad their marriage will deprive the stage of one
of its greatest oreasseata"

It is said that the capture of the Hungarian
charged with the recent fraud of 10,0001, upon two arms in
the London Stock Esolasage has boon followed by a die.
covery of important fads with regard to hie acoomplicoe.
"It Is likewise alleged." says the Tina, "that the arms
who have been the sufferers in this oats feel entitled to
complain of want of caution and regard for the Interests of
tee public on the part of some of the banking °facials with
whom the negotiation of the cheques and securities was
effected. Possibly, under the arinoyame of s heavy loss,
they may take too strong a view of the duties of bankers ;
bat should there be any ground for the impression they
entertain, it may be hoped that all the details will be fully
glom, since with the exteet of Making ocespetition soon to
he witnessed it will be highly neesimuy that the 00tOrnefeiet
. .

eommunity Mould coodetea any tanrieoo; to la=itytlZ
may be induced by Um eagernme foe bealams."

A French abisi of inimical tendencies, the Abbif
Benand, lately settled is the town of Camillo.. He .et
shout diecoverieg the dilettanti of the locality, and found
about twenty, whom be formed into a society of amateun,
performing chamber meek, singing glom sod choruses for
their own amusemeut. Bat the onfortueste abbe bad
issionied without %bat imposing sad ever vigilant floe•
tioatu7, she procureur imperial, and a prosecution was
actually instituted against him sad hit tweet, Meads ea
the charge of " violating the law of April 10, 1834, mei the
decree of Nevelt ZS. 1831, vaiest fllapl meebege" The
court, however, in spite of the efforte of M. le PrOWleare
decided that any Frenchmen fond of manic may seeemble
twenty friends io his hoar, without " esdaegetiog the
public peace and the basis of social eider," and armaitted all
the defendants.