The Express.
London, England, 1863-07-30 00:00:00

LYrI UM.

Twig PVT:NINO. A SCI)I)KN ATTACK. Mews. Shore and
Widdicomb , Ilenrade and sirs. Ire —And mi.; DI. KrB
MOTTO. Ileswa. Fel.ht•r, Shore, Jord.to, Brougham, and
Raymond 511. G C. Leclere..t. K. Terry, and k'Jaworthy.

BRITANNIA.

Till fvESING, TIIE Iii;4.I;;TIVI'GIITER.—TIIE GREAT
GIIONT SCENE from 111 E GLEN, with Prof...Awnr
pepper's adAntatlon of %Ir. Dlrclas Spectral
HIVE OF LIFE.—And THE CUBSE OF DISOBEDIENCE.

HIGH WATIfg AT LUNDON NAIDGK.
TEM DAY Morning. 1, 18 0 . . Afternoon. Ih. 4681.
10410R1101, —Horning. Yh. . .Afteruoon. 38. a.

LONDON, THURSDAY, JULY 30.

THE sudden collapse of the Confederate Loan
has not unnaturally filled the calculating friends
of the South in this country with dismay. This
stock, which on its introduction to the English
market was so skilfully manipulated as to be
quoted at a premium, has during the last few
days sunk by successive plunges to 20 discount.
On Tuesday morning, indeed, it could not be dis-
posed of at any price, however low, but a few sales
were eventually effected at 17 discount. Yes-
terday, while other kinds of foreign stock rose, the
Slaveholders' Loan still retained its alarming posi-
tion of severe and exceptional depression. Under
these circumstances, it is hardly surprising that
the panic of the Slaveholders' agents and represen-
tatives in this country should be extreme. This
sudden fall in their favourite stock shows
that the arts by which it has been so long sup-
ported are beginning to fail, that the outside
world can no longer be deceived by smooth pro•
phecies of Southern successes, but is taking the
measure of current events for itself. It shows
that the resources of plausible mystification are
nearly exhausted, and that the public are
beginning to exercise their own judgment on
American affairs. The Confederacy has clever
agents and advocates in this country as it has
able leading men in America, and they have done
their work well. Their representations have
induced a number of ignorant and innocent people
not only to believe in the omnipotence of the
Confederate cause, but to invest their savings in
its so-called Cotton Loan. But facts are stubborn
things, and in the end break down the most skil-
fully constructed fictions, however long or loudly
they may be reiterated. The inevitable crash is
rapidly approaching, as its victims begin already to
discern. The desperate game of speculation is
nearly played out, and the public are beginning to
see the Confederates in their true character. The
panic of the players is, therefore, perfectly natural.
A premature crash would obviously be fatal. At all
hazards some attempt must be made to delay the
final catastrophe. Something, no matter what,
must be said or done to restore temporary confi-
dence, and prop up for a brief space the falling
cause. If nothing else can be done, a resolute
effort may at least be made to brazen it out for a
time. It is the very moment to put on a bold
front and use strong language, and the Confede-
rate representatives in this country have accord-
ingly bestirred themselves to meet the emergency.
The effort is no doubt in any case desperate
enough, but if made with judgment, decency, and
discretion it might, perhaps, have been attended
with some slight amount of momentary success.
The opportunity has, however, been thrown away.
Bad as the case is, the attempts hitherto made t )
amend it only make it ten times worse. Indeed, the
shifts to which the leading organ of the Confederacy
is reduced seem to show that the position of the
South is far more hopeless than its bitterest
enemies had imagined. The Times yesterday
rushed to the rescue, and collecting every scrap of
available consolation attempted by a combined
effort to comfort the friends of the South and
support the falling Loan. The result of thisgrand
movement will excite in moat readers a feeling of
mingled amusement and surprise. What is the
sovereign consolation offered to the despondent
holders of the Confederate Loan at this critical
moment ? Who is summoned to dispel the clouds
of gloom that darken the Confederacy, sal cut the
knot of its accumulated and hopeless difficulties
Instead of any special message or messenger
from Richmond, the Does ex inachini turns out
to be only our old friend Mr. JAMES SPENCE, of
Liverpool, the apostle and prophet of Se•esssion,
once nominally unattached, but now known as
the Financial Agent of the Confederacy in this
country. This paid representative of the
Southern Government is the chosen Son of
Consolation summoned to cheer the hearts of
Southern bondholders at this se )son of their
terrible extremity. If they can appreciate dis-
interested zeal and Christian indignation, ex-
pressed in the peculiar rhetoric of the " Com-
" plete Letter Writer," they may perhaps have •
melancholy pleasure in the perusal of his
epistle. For the rest, Mr. SPENCE be-
guiles them, as usual, with the pleasures
of memory end the pleasures of hope.
The prospects of the Confederacy have,
he acknowledges, been brighter in times past, and
may, he suggests, be brighter in times to come.
For the present, the only consolation he can offer
is derived from the miserable riot at New York.
That is the one bright spot in the dark and gloomy
prospects of the Confederacy. It is true that
Vicksburg has fallen and the Mississippi is lost—
true that BRAG° has retreated, while Charleston is
seriously threatened—true that Leen; driven across
the Potomac, with the loss of thirty thousand men
—true that the South has lost all the great lines
of river and railway communication—true that
GRANT'S splendid army is set free to act, if neces-
sary, against Richmond itself. But all is not ye t
lost. The accumulating tide of Northern military
success may, according to the Southern prophet,
yet be rolled back, and the Confederacy

MC?.

saved by an Irish row in the streets
of New York. We are afraid this will prove rather
cold comfort to those who have invested their savings
in the Confederate Loan. It is clear, however,
that it is all the consolation they are likely to get
for some time to come. Such a precious morsel
of comfort must not be too hastily dismissed, and
it is accordingly made the moat of by the '
friends and representatives of the Confederacy.
The irked not only gives prominence to Mr.
Sr hatter containing this choice topic of con-
"HI term to the riots again in its lead-
i and in its Money Article. "There
"is no worse symptom," we are told, "of an
" impending break-up in the South than that
" which the conscriptionriots have furnished in the
" North." That is the simple consolation for all
who are guttering front the terrible depression
of the Confederate Loan. But the writer
himself appears hardly to share the confidence he
attempts to inspire, or at least to have some mis-
giving as to the grounds of it. " Under any circum-
" stances," he adds, " unless it is to be supposed
" that the South is destined to be absolutely ex-
" tinguished as a nation, or even as an influential
" section of the United States, capable of inde-
" pendently fulfilling at some date its promise to
deliver the cotton which was bought from it in

good faith in its time of difficult 3,, there will

" still be cause to cherish the trust that this com-
" paratively small debt will amidst all difficulties
"be faithfully provided for." After all, " S."
may possibly be right, and the Irish riot is the
only solid ground of hope. But ho and his col-
leagues had better use it fur the future with a
little more decency and discretion. The riot
was, as they are aware, originated by Southern
agents, and carried into effect by means of the
lowest foreign element of the New York
population—an element of disturbance im
ported from Europe and not yet assimilated. The
rioters did the work of their Southern masters
faithfully in murdering the negroes and destroying
the property of those who have advocated their
cause. These facts being notorious, the pious
reflections of Mr. SI'ENCE may speak for themselves :
—" In the streets of the great and virtuous city
" of New York it appears that negroes have been
" slaughtered like sheep, one of them hung up
" and burnt. What an illustration of the philan-
" thropy that seeks the destruction of fellow-man
"as a means to work out its Christian love !"
The Slave Power, even in its most desperate ex-
tremity, can hardly be served by such statements
as this.

Abe Coun.

OSBORNE, JOLT 29.

The Queen, accompanied by Princess Helena and
Prince Leiniogen, drove out yesterday. The Hon. Mrs.
Bruoe and Colonel the Hoe. A. Harding. were in attend-

The Prince and Princess of Wales cruised yesterday in
Lord Alfred Paget's yacht, and sailed to the Needles.
Viscountess Jocelyn has succeeded the Dowager Countess
of liouot Llgcumbe as Lady in Waiting.

A deputation from the Fisheries Preservation Society,
consisting of Mr. P. L Simmonds, Secretary of Sanitary
Committee Society of Arts, Mr. Henry E. Bicknell, Lord
Saltoun, Mr. Martin T. Smith, M.P., Dr. Waller Lewis,
Dr. Peter Hood, Chevalier de Caplin, 11. D., Lord Liao-
over, the Hon. Colonel Keane, R.E., and Mr. Francis Fran-
cis, had au interview with Viscouut Palmerston yesterday.
The Right Hon. T. Milner Gibson left town yesterday.
The Right Hon. W. H•rtt and Mrs. Hutt left town yes-
terday for Gibeide, near Gateshead, Durham.
The Judicial Committee of the Privy Council sat yester-
day. Lord Kingsdown gave judgment in an appeal from
Bongs:, " Khajah Gour Ali v. Ashruffooniasa end others,"
and in an appeal the same parties v. Ahmed Khan. An
appeal from the Admiralty Court, the Corinthian (part
heard), was concluded, and judgment given by Lord Chelms-
ford. An appeal from the Admiralty Court, the Falkland
and Navigator, was heard. The lords present were Lord
Chelmsford, Lord Kiugsdown, and Lord Wensleydale.
Despatches were received yesterday at the Colonial-office
from the Governors of the West lodes Islands.

SHORNCLIFFE CAMP.—Preparations are being
made in anticipation of a visit by their Royal Highnesses
the Prince of Wales and the Luke of Cambridge. Pontoon
bridges have been constructed across the Royal Military
Canal between Sharpeliffe and Myths, and it is expected
that a field day will take place on a grand smile. At Shorn-
cliffs camp the Prince of Wales made his first appearance in
an official capacity, by presenting colours to the Canadian
Regiment, which has since taken the name of his royal
highnems.

Their Royal Highnesses the Prince and Princess
of Wales will (we learn hors the Scotsman) arrive in Edin-
burgh, en route for Abergeldie, on the evening of Thursday,
the tith proximo, and will take their departure foe the north
by the ordinary express train at 9.15 on Saturday morning.
Their royal highnesses will arrive at Aberdeen at 4.10 p.m.,
from whence they will proceed per special train to Ban-
chory, and post the remainder of the journey.
Their Serene Higbne+sea Pri,.ci and Princess
Edward of Saxe Weimar are entertaining, during the race
week at Goodwood, a select and diitiuguished company at
Molecomb Lodge. The circle inc udes his Serene Higbee=
Prince Herman of Saxe Weimar, the Mike and Duchess of
Manchester, the Earl of Derby, the Earl of Coventry, Lord
Dunkellin. and Sir Henry and lady Sophia des Vinnx. There
was a dance last night at the lodge, to which the visitors of
the Duke and Duchess of Richmond at Goodwood House
and a brilliant circle received invitations.

The Duke of Hamilton nod Lout Charles Douglas
I-ft town yesterday to join the Ducheaa of Hamilton (nee
Princess Marie of Baden), and Lady Mary Hamilton, at
Baden Baden.

The Duke of Montrose and family have left Bel-
grave-square for Buchanan House, Stirliogshire. The
duchess will shortly lean • Goodwood for S...rotlend.

The Duke of Cleveland received a select party at
dialler law evening at his residence io St. Jamea'saquare.
The Earl of Craven left town yesterday for Scar-
borough for a few days.

The Countess of Sefton an Lady Cecilia Moly-
Deux will return to Groevemor-place to-inorrow from
Goodwo.d.

Lord and Lady Llanover leave their residence in
Great Stanhop -street on Saturday far L'aoover, Wales.
The Marchioness of Salisbury anal family intend
to leave Hatfield House, Herta, to-morrow, to peas a few
weeks at Bournemouth.

Lord Stanley, M. P , has returned to town from
yisitiog the Marquis ao id.achiouesa of Salisbury, at
Hatfield House, H rts.

Lady Duiferin gave birth to a son and heir on
Tuesday, at Dutferio Lodge, Highgate. Her ladyship and
infant are both prooessing favourably.
Lady Stanley of Al lerley an I the Hon. Miami
Stanley leave town to-day for • tour in Germany.
The Right Hon. Heikki] n Denteli, M.P., and
Mrs. Disraeli returned to town 3,, serdav from • visit to
the Manilas and Itochion,sa of Salisbury, at Hatfield
House.

Mr. and Lady Caroline Duncombe are receiving
a succession of visitors at Wares,e9 Pork.

Sir Michael and Lady Shaw Stewart are expected
in town in a few day., (tom the e ogineat.

Sir James Weir Hogg has takeu dttersbaw Park,
Surrey, fora few mouths.

PRINCE A RTIII:It AT DorilELLY.—Hia royal bitch-
! nen hM atmuled the lofty Ceder LiViX. and the view from
the top was all that could 1.4 bn Monday the royal
party visited the Cambrian and Clogau go:a minNe sad
were shown the process of crushing and amalgamai,:r!f•
and some beautiful specimens of gob! in quartz were pre.
seated to the pnoce. A fter extending their journey to the little
seaport town of Itannouth, the party strolled to the Preci-
pioe. walk and Nannau Park. On Tuesday the high sheriff of
the county, Mr. H. Morgan, called on his royal highness.
The high sheriff was attended by bis splendid retinue of ,1
javelin men. The Ceder Idria Rifle Volunteers mustered
on the green in front of the I.idn Hotel, and were ioapeeted
by his royal highness. The royal party departed in the
High Sheriff's carriage for Carnarvonslare, vitt Bala and ;
Feetizuog.