The Express.
London, England, 1852-02-26 00:00:00

LATEST FOREIGN EXCHANGES.

10,000
30,000

11:000
2ftovm.
200,060
7,000
6/000
42,174
"NO

lisio
.Isf
I

•••
TPA.—The market is dull.

PARIS, Pea. 25. 1 Vur I net..... AaroarA.-
Money. ibbsit IMMO MAU.
per Qom.
wr el nu.
d 03015.
. New 10as
we 0 ate.
Leebenwe ow Lowdna : at Flak Is IN.; .90 daia: 13 14.

1 pwr OWN. -- 1 01 OS
$ pet Cent&
4 per Oast&
44 do. New Loan
!per 1.3 nu.l
Exchange on Lawton : in mot, le 824 ; 90 dayg, 55174
Ileireo, 5. 1010 lOO4 Roney. 1 Naples Rout. . —.lOO 25 Money
Do. 5, 10.2 — ... Rowse Loan, speret.loll ~.
Do. 11
140. 24
piedmont Si,, Gents ll 95 1 Ngsk sbgreg 25
PARIS, Fan. 26.—St. Germain, 530 ; Versailles (left
1ink1,'235 ; Paris and Orl ens, 1140. Perim and Romeo, 0 0; Rouen
W Havre, L 202 50; lianrillea and Amirnon, 228 75; strashwurs
owl Bale, 315 75; Penne. 518 75 ; Ponlrigne .uul Amiens, 502 50 ;
Gligans and Voideens, 115 72. North, 595; Paris and tr.uilandW,
44, 13 ; Paria and Lye. s, 582 SO : Tours gad Nantes, 300; Mon-
loweau and Troyes, ISO ; Diem and imam& 515; Bordeaux and
11.46,03 50,

MADRID, FEB. 20.—Three per Cents., 381; after
Bohm, 281 paper. New Three per Cents., 19; after
Bolen, IN 15-16 paper. Coupons, ; after Bohm, 91.
Passives, 5 5.16; after Bolen, SL. Bank of St.
Ferdinand, 105 paper. Exchange on London,
50.75 80.
BERLIN, Fee. 24.—Voluntary Loan, 1021 ; ditto,
Four-end-a-half per Cent. (1850), 102; ditto (1852),
101 ! ; National Debt, SOS. Commercial Marine,
1221. Bank Shares, 99.

IN, SA. John lid 1N7...
Cubre ,upprr
Pai,lat%o
Kng. Si Australian Ow,
General
iuldes Muunbiln. .
(In at Pulsnath
tl, lion; dnutllitamarken

li din

SOUTIBIRI WM,
untisio de Cute
ria Cruft
United Neale= .—..
wed Maripass—....--

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Pr e !,r4.1

COMMERCIAL AND MARKETS

MINCING-LANK7-TIIES DAY.

SUGAIL.—Tho public sale of 3,200 boxes o: items&
went off wcU; the fine qualities sold at high prie.e, 38s. to
405.; prices ranged (ruin 31s. Gd. to 404. 230 c....•• of Bahia
were offered, and bought in. The refined Wt. Ildt steady,
at yesterday's prices.
Currea.—There hu not been a public sale t day. Good
ordinary native Ceylon quoted at 395. to 11... 0.1. , tine, 401. ;
but the market is dull. . . .

COCOA.—oOO bags Trinidad were offered in y.ublic sale,
and about half sold, 325. to 405., which wcru .c,,,at previous
watts.

PlmaNro.-200 bags soid steadily in public s.i.e at 40. to
41d., which were folly previous rates.
Camay.-340 bales Tinnevelly were offered in public
sale and bought in at high prices, 4d. to 40. ikr lb. the
market has a firm appearance.
Rum continues dull of sale.
In other articles no material alteration.

Innioo SALES. The circular of Me-sr, 11. W.
Jeweshury and Co. has the following review 0: these sales,
which terminated last night (Wednesday) Tim reduc-
tion in prices, as compared with last October sale, which
took place un the first day, chiefly for the finer qualities
of Bengal, hie continued throughout ; occasionally mere
spirit was manifested in the bidding', and lately rites were
decidedly firmer, but there was nu disposition to go beyond
the rates then established. Good Madras and litapah, both
being scarce, have experienced an advauce of 3.1. to 4d. per
lb.; three qualities also in October last reales. d the same
advance upon the previous lady sale, when ail other de-
scriptions were lower, as in the present sale. he greatest
reduction has been, ns was anticipated, upon the good and
fine Bengal qualities, which constituted a eirge proportion
of the sale. The large quantity disposed of iu tile Let two
sales shows that a return to moderate prices has gisen eon-
fidence to buyers ; and as the next May sale will in all pro-
bability be a small one, on account of the uutemally late
shipments from Calcutta, present rates are exp., ted to be
fully maintained foe some time to come. Of the quantity
brought forward, it is estimated that 2,016 are bought in,
4,711 withdrawn, and 7,787 sold, to whirh may be added
about 2,000 of the bought in and withdrawn ; making the
total quantity sold say 9,800 chests, of which 5,000 chests
are for export, and 4,800 fur home use and ri -sale. The
following are the quotations, as compared with the last
October sale:—Good and flue shipping, 35.. to 44. per lb.
lower; ordinary and defective ditto, 2J. m 3d. lower ;
broken and consuming, par to 3d. lower; Madras, good
fine, 3d. to 4d. higher ; ditto, middling ordinary, par to
4d. lower ; Kurpah, good and fine, 3d. to 4d. higher ; ditto,
middling and ordinary, par to 3d. lower.

TALLOW MARKET.—THIS DAY.
The market is firm at the following prices :—Town Tal-
low, 365. 6d. nett case • Petersburg, Y. C., on the spot,
355. 9d. to 365. ; Oct. to bee. (1852), 375. 3d. ; on or before
the end of March, 35e. 9d. to Ms. 6d.
SMITHFIELD HAY MARKET.—THIS DAY.
Messrs. Cooper and Davis report the trade brisk fur good
things, but very difficult to find buyers for anything of
second-rate quality. Prime Meadow Hay, 725. to 785.;
inferior, 655. to 705.; Bowen, 60.. to 65a. ; Clover, 75e. to
85..; second cut, 70s. to 755. ; Straw, 26.. to 28a. .'
4
LOCAL SHAER MARKETS. . •
•
Lmthront., Fan. 25.—Our share market is muck firmer
to-day, and although the business is not extensive, prices
are materially improved. 'fho following are the trans-
action* :—Caledonian, 151 13-16—Eastern Counties, 718—
East Lancashire, 151 11-16—Lancashire and Yorkshire, 68
1 14—Ditto Mirth shares), 61 d. —Ditto (fifth shares,
West H. Un.), 41 d—Landon and North Wc•tern, 1191
—Ditto (new 1 shares), 31 1 fp.—Manchester, Sheffield,
and Lincoln, 291 I—Midland, 41 8 / 1 I—South Eastern
and Dever, 201 1 I—York and North Midland, 211.
BRISTOL, Fan. 25.—The market was very buoyant and
firm. Great Western Original Shares were done at MI to
ex. div. Midland Stock, 58.
MANCHESTEE, FEB. 25.—There has been a good busi-
nese, and prices have been buoyant, with a market clear of
stock. The sales include :—Leeds, 671 18, 71 1 81; Mid-
lands, 571 8 ; Eastern Corinth s, 71 ; Caledonians, 151 ; •
Borers, 201 ; York and North Midlands, 211 ; Leeds Fifths,
6 13.16 d.; Sheffield., 281 ; Bristol and Birmingham, 135;
' Sheffield No. 1 Quarters, 11 3-16.
LEEDS, Fee. 25.—There is very little animation in the
share market this morning, and no material change in quo-
tations. The closing sales were as follows :—Caledonians,
1511 West Riding Unions, 4/ dis.; Leeds Northern., 14};
at and West Yorkshires, 10.
BattIIINOHAM, Fun. 25.—There was little doing in our
market to-day., but prices were a shade better. Shropshire
Unions were done at 31 du.

THE KaFent WAR.—An estimate of the further
sum required to be voted towards defraying the expenses of
the Kaffir War, beyond the ordinary grants fur army, navy,
ordnance, and commissariat services for the years 1850.51
and 1851-52, issued this morning front the Treasury, shows
that sum to be four hundred and silty thousand pounds.
GUARANTEED LOANS FOR BRITISH GUIANA AND
TRINIDAD.—Notice was this morning given from the Trea-
sury that the time fixed for the receipt of tenders and the
disposal of debentures for 60,000/. on account of British
Guiana, and 40,0001. on account of Trinidad, is further ex-
tended until March sth, at 2 o'clock.
331t0, 79TH, AND 93ItD RI'OIMRNTS.—The 33rd
received routes to proceed yesterday front Edinburgh to
Glasgow, the 79th to proceed front Stirling to Edinburgh,
and the 93rd are now en route from Glasgow to Weeelon.
DEATH OF COL. GRATIXIN, K. 11., R.E.—Col.
Graydon, the senior colonel of the corps of hotel Engineers,
died at Montreal, Canada, ou the' 7th ult., aged 66 years.
lie entered the service as a second lieutenant in 1804, be-
came a first lieutenant in 1810, captain in 1800, a brevet
major in 1813, a regimental lieutenant-colonel in 1829, and
a colonel in 1816. Col. Graydon served at the capture of
Martinique in 1809, and of Guadaloope in 1810, on which
occasions he wu the 'senior officer of engineers present.
He was in 1832 nominated a Knight of Hanover, suit had
I received the war medal with two clasps.
PORTSMOUTH GARRISON.—PORTSMOUTII, Fitt. 23.
—Three companies, with head quarters, of the 95th regi-
ment, have left their barracks ir. this garriwn and gone to
Fort Cumberland, a strong fort, about four mile. to the
eastward of Portsmouth. Two more companies have pro-
ceeded to day to join them, whilst two other companies
have gone to Fort Monckton, on the Gosport side. Tho
remainder of the 95th stop at Anglesey barracks. 'fo-dsy
the first detachment of the Kith regiment arrived from
Hull and its neighbourhood, and took up the vacated
quarters of the 95th.
42ND REGIMENT AND 2ND BATTALION RIFLE
Bittutne.—With reference to the intimation in the Ex-
press of the 24th lost , that the five re.timents which were
under orders to proceed this year to Nova Scotia, Gibraltar,
and Malta arc not to embark Is r these slit VMS, it may now bo
added that the 42nd nail 2nd Intuition Rifle Brigade are,
notwithstanding, to come home this year. The other reliefs
are count, nnaniled, and consequently tin change will take
place in the stations of troops in the Mediterranean and at
Gibraltar.
I,OBOONDERRT AND ENNISKILLEN RAILWAY.--
Traffic for the week ending Feb. 21 (26 miles open):
Passengers, 701. 19s. Id. ; goods and man,. IiEU. 16s. 2d. ;
total, 1781. 15s. 3d. Corresponding week, 1851 (15 miles
open), 134/. 19s. Id.
BELFAST AND COUNTY DOWN RAlLWAY.—Traffin
returns for the week ending Feb. 22 : Passengers,
subscriptions, goods and 'parcels, 3091, 18e. 4d Week end
log Feb. 23, 1861, 1471. 9s. 2d.

The Ervreols.

70 CORRKSPONDENTB,

• tweed Little" ;C" athitee WIN wallet'.
• I,...eett-.".• pithlt.tted na7 Tuesday awl Ynda, eigtay la time
ke put.
AVM lAA a.. 0/.11111.11111.1 to. " The Zapeeip," Leados E..11://f gm,
wen to .tt the I him, le, Itosherthattest. >h Two .'dock oh the
▪ et 041,1.• tier.

MGR WATER AT LONDON ARMOR
Try Dan—liarnien„ Alterman, 6b. Ils.
11..0111•W -Mame& 34w.

Eo.vDoN, THURSDAY. FEBRUARY 26.

No stronger argument can be found in favour of a
large extension of the suffrage than the advent to
power of Lord Hiusv's government. The new
cabinet, composed of a body of aristocrats nod land-
°Viten. pledged to a peculiar system of commercial
policy. assume office at a period-when the sense of
the nation his thoroughly ratified the converse of
that policy, mid when the experience of every passing
boar eithliruis the expeiitricy and bears testimony to
the wi-duns of the very system to which they are
oppoord. It is obvious, therefore, that the nation
has not decreed Lord 11/Lant's advent. What the
people hare decreed, ani what they are prepared to
maintain. is the precise contrary to every financial
cad cossairrci ei project the new Triune Minister can
consistently propound.
If the representation of England were free, and if
the vide,. et the masses was heard in the so-called
Cre's ch miller, the retirement of Lord JOHN
LLI. would have been followed by the introduc-
tion to the councils of the state of a very dif-
ferent class of men. The people's policy would
have n carried out by individuals pos-
sessing some shire of the people's confidence.
We should have bad some slight representation in
the cabinet of the great commercial and trading in-
terest. of the rommunity. Our manufacturing pros-
perity would not be at the mercy of an Oxfordshire
connty magistrate, nor the revenues of the nation at
the disposit.on of a cleier rhetorician. In the last
tory ail trek?' that was formed there were
men, such as Mr. Ot. tv•roNr, who, whatever their
other faults and failinp, at least were familiar with
the requirements of the commercial and manufac-
turing co cs.
But in this present there is not to be found
cae num who has even a commonplace ac-
quaintance with these great classes. On the con-
trary, there is nut a single member of the event-
Min who has not at one time or another evidenced
his contempt for all interests and individuals 111111150-
ciated with the land.
Let it not be said that the nation has to thank
itself fur this. To say so is a libel on the people.
We hare to thank the system of the state craft which
is uppermost in England. We are under the rule of
an aristocracy which monopolises and bars against
the people every avenue of approach to the
throne, and which surrounds the throne with its
own relatives and creatures. When one section of
this oligarchy is driven to relinquish office it hands
over the sovereign and the nation to another section;
and so they go on shuttlecocking the state backwards
and forwards, not according to the national exi-
gences, nor on considerations that such and such men
are peculiarly adapted to meet such and such crises,
but just as may suit their own convenience, and
just as their respective successes in corrupting small
electorates turn the scale and balance of parties in
the }louse el Commons.
If the voice of the ixople were properly expresiied
in parliament, we could have no such manoeuvres as
these. The popular will and the popular interests
would be represented in the Cabinet, as well as in
the Moues of Commons; and the responsibilities of
office would be felt by those who assume it. At
present places arc given away, not to the best and
most eminent men—not to those best qualified to fill
them--not to the men in whom the country reposes
the largest share of trust; but as it suits the pur-
poses, personal or party, of the aristocrat who is
called upon "to form a government." Hence it is
we have such men in power as those who hold office
at this time—a Cabinet formed from bad materials,
after tte most clumsy fashion.
We have spoken of the small sense of responsibi-
lity which is telt by the aristocrats who succeed to
power. It cannot be expected that men who know
nothing of the people, can have much sympathy with
the people. But one might at least expect that, if
they did not try to study those they govern, they
might be careful not to affront them. But the mem-
bers of the oligarchy, when they get into place and
power, thitec far less of the duties than of the plea-
sures and amusements of their offices. In the "offi-
cial list of the government," published yesterday
" by authority" in the paper which styles itself, how
truly we know not, " the ministerial organ," we find
the following :

Lord Lietsteusat : Tha Karl of Ettliaton, who, it is fully
expected, will he la Dublia is Usti to bold the usual state
ban ow Mt. l'atriet'ada7.

Conceive this ! This lord of tournaments and
mummeries, who is just appointed to the Lord-Lieu-
tenancy of a country he most probably has never yet I
placed foot in, is so full of the pageantry and frolics
of a Lord-Lieutenancy as to send forth u
his first proclamation to the distressed and
suffering nation he is appointed to govern
that he shall be amongst the people in time to hold
a ball! What promise for the peasantry! How en-
livening for the owners of incumbered estates! This
is the great object for which Lord Eotorrox is
selected fur the Vice-Royalty of Ireland: not to feed
his starving people—not to heal the wounds inflicted
in pest conflict, and still freely bleeding—not to
preach peace between fighting factions, and to en-
deavour to cool down excited animosities—but " to
bold the usual state ball on St. Patrick's Day" for
the amusement of the second-rate Dublin fashion
that in St. James's-square his lordship ridicules and
mopes at.

---Yet of such are our governments composed; and
of such will they be composed whilst anatoerate are
"elected for place and power merely because they are
aristocrat'. And that system will continue until the
people get the suffrage, and until a full stop is put
oo the corrupting influences which the aristocracy
are now able to bring to boar on the small coasti-
taencies of the country.

THE leading free-traders of Manchester have
bees preparing by times for the defence of cheap
hod; and they have resolved to revive, if noose-
eery, the Ann-Corn-Law League. Corresponding
measure* are also being taken in the other great
towns: the two largest parishes of this metropolis
her. already addressed the (luxes ; for Westminster
a thorough free-trade candidate has come forward, as
Mr. CHARLES Lusnluorou's succemor, in the person
of Mr. Vatt efts Su r.t.t.ev, a gentleman who cultivates
2,000 acres (ibis own land in the l)ekeof Muumuus's
empty, linesex, and who is as determined an opponent
of any tax on hie lamer:re' bread as Mr. CAMDEN
himself; nor will mesas be wanting, as soon as a
dissolution of parlieneest is fixed, to instruct the
hem servants of the country of the deep interest they
have in preserving what others have gained for
them . _

If, then, agitation, strife, bitterness, and even dis-
order, have to prevail; if class have once more to be
roused against clan ; if town have again to be set up
against country—the responsibility is Lord DERBY'S,
and his alone. The liberal and democratic party will,
on this occasion at least, be strictly on the defensive;
aggression will come from the monopolists. Without
Lord DERRY, tke protectionists would never have
dared to form an exclusive cabinet. It is he who
has risked all for them on the issue of ono battle on
one question. It is he who now compels the liberals
to see and feel more clearly sad deeply than ever,
that without a largely extended suffrage, without
the diminution of the power of the aristocracy, with-
out the supremacy of democracy, our daily Need is
not secure, our daily labour is not our own, our free-
dom to buy and to sell where we please is at the
mercy of others.
It the continued popularity of Queen VICTORIA,
and her people's loyalty, were a small matter—if the
material condition of t millions who now gladly
recognise the interest she takes in their welfare were
a little thing—if a continuation of the balance of
interests in this realm were a trifling consideration,
the government Lord DERRY has formed would be
merely • bad joke. But to shape the policy, to
direct the legislation, to wield the power, and to be
responsible for the state of the Bntish empire is the
reverse of all this—it is the heaviest task ever as-
sumed by mortal men ; heavier, in the face of the

throes and agonies of the continent, now than at
any time since ()cotton ILL and Mr. PITT involved
England in war. It is then all-important to have
before as the very latest opinions of the people in
power.
The two questions of free-trade and representative
refoim are inseparable ; wo have got the one, but
without the other it is insecure. 'Turning then to
the debate un the address in either house of parlia-
ment, what do we find the new PREMIER and the
new Cusuettimit of the EXCHEQUER saying in
their respective Chambers? Hear Lord DERRY on
domestic agriculture :
I wilt I scald share in the visions of prosperity in which
the ashis bases indulged ; but I confess that, is spite of
the rim sib. a quarter in the price of wheat, I see no
prospect of material prosperity for the agricultural interest.
• • • My belief is that the production of wheat in this
eons , ealess maw alteration of the law shall take place,
mist to an extent alarming, if not dangerous, to
to ceastry. • • • I here not at all alien dmy opinion
that he the papers of re%inue, es well as for the purpusu
oferts=alea of satire indiedry, it is desirable that
should he included in the articles of
import se wMtiessvenue should be raised.
Equally plain and distinct was his declaration
against reform in the representative system:
If the object be to extend still further the democratic
plower is this community, then I ray, I tare not what may
be the step made, it is, is my belief, • step made in a
deagerems direetios, and to that step I shall be compelled
toilet mah opposition as it may be Ili my power to offer.
• • • I do sot think throughout tho length and
breadth et the land, there are tire reasonable men who
consider it a matter of the slightest importance whether
this hill be introduced or not; and its announcement was,
I think, as unjustifiable art on the part of her Majesty's
government. • • • and, for my own pert, I do not
hesitate to express my opinios, that any advantage which
can be derived hews a draw is ear representative system
will be more than rmaterbslaneed by the dissdvantagee of
• renewed agitation on this eaciting topic.

On the necessity of protection Mr. DisaAELt was
Mllllllll' strong, though for a very different reason
than that expressed by Lord HERBY. Ho at least
avoided talking about land going out of cultivation
at a time when its culture is extending more rapidly
than ever, and when the very downs are being
ploughed up for the growth of wheat. Seising on a
pericrso passage in Mr. M'Cri.Locit's late publica-
tion, ho advocated protection as a countervailing
duty to repay our squires for the excessive weight of
local taxation. But on an increase of popular power
he soared far above his leader—far into the regions
of nonsense:

As I am one of those who
that famous motion in this house, that " the power of the
crown had incrrea•ed, was increasing, and ought to be di-
minished ;" as, iu fact, I should be willing to hail as a
fact the ravine of thst proposition ; and as I think it one
of the great 'misfortune's of oar time, and one most inju-
rious to public liberty, that the power of the crown has
diminished, I am not likely to look with unnecessary jea-
lou.y or the erection of the prerogatives of the crown.

Whilst Lord 1) tux is all for aristocracy and dear
bread, Mr. Bimini:Ll (like Lord CHATHAM, ho will,
we presume, take the tjUEEN'S orders on his knees)
is all for prerogative and countervailing duties; the
one will adjust his measure to suit the peerage, the
other will lay his schemes to make the Sovereign
absolute, and for the sake of "public liberty," re-
vive the practices of the STUARTS, the object of end-
less volumes of his father's glorification ; whilst their
colleague, Lord NIALIIESBURT, will, no doubt, oblige
Prince ScttwAut:NnEart by "making more ample
and rigorous use "of the laws against political re-
fugees, and submit to the "annoyance" which that
congenial statesman threatens British subjects with
in Austria, and of which Mr. ERSKINE MATIIEB,
when cut down in the streets of Florence, had a
taste. _ _ _

But to descend from our poetical and fantastic
CHANCELLOR of the EXCHEQUER'S flights of constitu-
tional fancy on behalf of a sovereign who will be the
first to laugh at them, to the sad realities of finance
to which he is now condemned, does ho recollect
that the Income and Property Tax expires on the sth
of April—that forty-ono days hence no further as-
sessment of 7d. in the pound can be made either on
our capital or on our labour—that in six weeks' time
he will lose five millions of revenue, having only a
surplus of 2,700,0001. wherewith to replace it?
And why, last year, was its renewal so limited and
restricted? Why, but because its inequalities and
injustice might in 1832 be mitigated and removed.
lAnd who has declared so loudly against its notorious
and palpable defects as Lord DE/BY and his finance
minister? Are we then—will the liberal party
consent to vote its renewal in its present
monstrous shape till the sth of April, 1833,
in order that meanwhile Lord DERBY may beguile'
the country into a majority that will enable him to
tax our bread, and transfer the profits of our indus-
try from ourselves, our wives and families into the
pockets of the squirearchy? Tho Mutiny Act they
may rightly consent to pass; but to renew uncondi-
tionally the income tax for other twelve months,
with freedom of trade in danger—that would indeed
be a surrender of the popular cause.
No—now is the time, between this and a dissolu-
tion, to place the income tax on a sound basis. There
is both surplus and opportunity. Let them not be
neglected or evaded.