The Press.
London, England, 1857-01-03 00:00:00

PAMPHLETS.

.Routledge's Shakespeare, Part 11. Routledge Robert
Owen's Millennial Gazette—The Banking Laws of Ireland.
By E. Fraser, E. Milliken, Dublin—Evenings with the
People, No. V. Ernest Jones—. 4 Few Remarks about the
British Army. Clones and Sons—The Second Congress,
&c. Ridgway.

MN.,

20

was surrounded by a velvet, which was taken up each
side of the front, forming epaulettes over the sleeves. The
body was low, cut siusre, and trimmed round the top with
velvet. The headdress was formed by a Wrestle of red
coral, with several light branches hanging on one side
only. The hair was rolled.
In the style of bonnets for the present month, the
artistes are making skilful use of the fashionable materials

for this winter.
A white terryvelvet bonnet, very small, thrown back at
the cheeks; and the clown rather round and falling. The
curtain, or rather three curtains, made, the top one of
terry, the second of cerise velvet, and the third of pointed
blonde. The middle curtain is made much narrower than
the others. On each side of the curtain is placed a lung
feather, white, tipped with cerise. These are carried to
the top of the bonnet, where they pints each other, falling
over the crown. At the front edge is place►' a fine pointed
blonde, two and a half inches wide, which falls back over
the bonnet. The inside is trimmed with bunches of
cerise, velvet flowers and blonde.
Another very elegant bonnet may be made of pink terry
velvet. From the front edge, on each side, are three deep
plaits of the same material, falling towards the crown. On
each of these is placed a charming trimming, termed of
green velvet leaves, so light as to have quite the appear-
ance of application. Thee plaits are fixed at the back of
the crown, and form the curtain, which is trimmed in the
same manner. A. light blonde is mixed with the velvet
leaves, but not so as to hide this graceful trimming.
Green velvet leaves and blonde are the ornaments inside

the bonnet.
A charming bonnet for a young lady was of black velvet,
with double curtain—the one velvet, the other Louise blue
terry velvet; on each aide of the front were bouquets of
flowers, half blue and half black ; the inside of trite hamlet
trimmed with the same flowers and blonde.
The Marie Antoinette bonnet is as much in favour as it
was in the beginning of the season, and we cannot imagine
any coiffure more becoming to a really pretty woman.
The most elegant mantles for visiting are those made of
blue, ruby, or violet velvet, embroidered in white silk and
fined with white plush, trimmed with a wide medallion
fringe. Nothing can be more distingue and elegant than
this embroidery, winch resembles rivers of pearls on the
rich shades of ruby, purple, sapphire, blue, or emerald
green. The same style of embroidery may be used with
great effect on the flounces of moire dresses.

goat anb Vilitarg fltclligcatt.

THE Resolute was finally handed over on Tuesday
to the naval authorities at Portsmouth. The
colours, bide by side with those of this
lung in the morning from the peak of the
;hip. At a quarter to one o'clock Captain
flag captain to the commander-in-chief,
board the Resolute to receive her on the
the nation. Mr. Penn, the Master of the
Mr. Burdwood, Second Master of the
party of seamen and a corporal's guard of
iarines from the same ship, also went on
Captain Hartstein now ordered his crew to
their proper positions, the starboard watch
. and the port watch aft. Captain Seymour,
'pending a few minutes with Captain Hartstein
latter's cabin, returned on deck, and as the
. clock struck one, the flag-ship Victory
the United States stars and stripes at her
id fired a salute to that flag of twenty-one
Whilst the salute was being fired Captain
• ordered the American colours to be hauled
board the Resolute, and the Union Jack
dusted alone, whilst at her main the pennant
British naval officer was hoisted. The salute
-oded, and the change of colours effected, the
. the Resolute manned the rigging, and gave
hearty cheers, as a return for the salute.
Hartstein, surrounded by the Chevalier
tario, United States Vice-Consul at this port,
merican officers, then addressing Captain
said:--
- -

closing scene of my most pleasant and im-
, roiNsion has now to be performed. And permit
hope that long after every timber in her sturdy
',all have perished, the remenedrance of the old
will be cherished by the people of the respective
I now, with a pride totally at variance with our
prof,.asional ideas, strike my flag, and to you, sir, give up
this
Seymour replied :
sure, sir, that this graceful act on the part of the
States towards this country, and the graceful
in which it has been performed by yourself, sir,
other officers of the ship, will ever live in the
of the people of England.
concluded the ceremony of the delivery of the
to this country. The crew of the Resolute
her, and went on board the Sprightly, Cap-
.artstein and the other officers following, after
• a cordial farewell to Captain Seymour, the
critish officers left on board the Resolute, and
civilians present. Prior to this, however, a
of champagne had been drunk, amid much
tisiasm, to Captain Hartstein and the other
and crew of the Resolute. On Wednesday
Hartstein and his officers and crew returned
York in the mail steamship Washinekm.

;THE PRESS•

pm Market 10 (tit g Ilnitilignict.

FRIDAY EVENING.
THE return of the Bank of England for the week ending
the 27th ult. shows the following changes compared with
that for the week preceding :
Increase in Circulation
Increase in Public Deposits
Increase in Other Deposits
Increase in Government Securities 330,317
Increase in Other Securities
Decrease in Bullion 283,512
Increase in Rest
Decrease in Reserve
Bullion 426,547
iu Both Departments
Circulation, including Bank Post
19,427,714
Bills
The most prominent features in this comparison are the
decrease in the Bullion awl the falling off in the Reserve,
which, as far as the notes only are concerned, amounts to
407,5751. For the decline in the bullion two causes are
assigned—one the transmission of coin to Ireland to meet
the run upon tt.e banks (which will explain the addition
to the Government Securities) ; and the other the with-
drawals for the Continent to pay fur the silver bought
there. The notes have been teduced by the heavy com-
mercial demand which prevailed the whole of last week,
the extent of which is partially represented by the enor-
mous addition to the private securities. The additions to
the public and private deposits enabled the Bank to give
this vast amount of accommodation to trade without
resorting to the sale of securities ; while, notwithstanding
the diminution in the gold and notes, the bullion is still
above ten and a quarter millions, and the notes only a
fraction below five and a half millions. The position of
the Bank, therefore, is one of strength. The Government
account is very good. There have been only four occa-
sions during the last twelve months, and they occurred just
previously to the payment of the October dividends, when
the public deposits have stood higher than they do now.
The approaching dividends, therefore, will be easily met
next week. Taken as a whole the present return is less
unfavourable than might have been expected considering
the state of the demand for money last week; and, on the
whole, it confirms the opinion that we are emerging from
the late season of trial and pressure.
An exceedingly heavy demand fur money has prevailed
all the week ; and there are no signs of its abatement for
the next day or two. This has been in part owing to the
universal balancing of last year's transactions, which has
compelled all parties, including bankers, to maintain their
reserves at the highest point, and in part to preparations
to meet the commercial acceptances due to-morrow. Be-
sides, the Stock Exchange has, to a considerable degree,
added to the demand by reason of the Railway and
Foreign settlements, which have been effected during the
week ; while the market is still affected from this quarter
owing to the Consol settlement next week —a settlement
likely to prove rather heavy. Then, again, there has been
a good deal of pressure for money from the country, in-
cluding Ireland. So that with a demand so general, it
will not excite astonishment if we add that the rates for
the most part have been extremely stringent, and that
Lombard-street has done only the very best paper under
the Bank minimum. All other descriptions have had to
pay six per cent. and more. It is, however, thoroughly well
understood that the pressure has been produced, to a great
extent, by incidental and temporary causes; and the ex-
pectation of improvement, so early as next week, has miti-
gated the dissatisfaction that might otherwise have been
expressed. The demand has been renewed to-day. As to
the future, the events of the current week have given us no
reason to change or modify the view we took in our last
that money can scarcely be expected to be worth less than
five per cent. during tire present year. Our own extending
commerce, the prospect of profitable investments in conti-
tinental, Indian, and colonial railway schemes, and the in-
troduction of new undertakings at home, doubtful or other-
wise, will afford ample employment for capital. There
will, indeed, be an active competition for it. Conse-
quently, though there are grounds for anticipating that the
six-per-cent. rate cannot be long maintained, the competi-
tion will create a constant demand, and capitalists will
take advantage of that demand to require the best rates the
market will afford. Cheap money, under the existing cir-
cumstances of commerce and enterprise, is quite out of
the question. The rates upon the Continent are un-
altered, except at Hamburg, where they have advanced a
fraction.
The Revenue Returns for the quarter and the year end-
ing December 31st were published yesterday; and, as fur
they enable us to estimate the national resources, they are
very favourable. The receipts have increased more than
850,0001. upon the quarter and nearly 4,000,0001. upon the
year Along with this state of things we know from the
Bank return above that the public balances are ample to
meet the January dividends due next week. In fact,
the Chancellor of the Exchequer is in a favourable position
with regard to the income of the country. His position,
however, is scarcely an enviable one when we bear in
mind the pressure to which he is about to be exposed for
reductions and modifications in the productive sources of
income ; and we must add that he will feel the weight of
City influence in these directions. The tables of the
Board of Trade, giving the state of our exports and im-
ports for eleven months of the year, have also been issued
this week. We learn from them that the value of our ex-
ports during that period was more than 105,000,0001., and
that fur the whole year they will exceed 115,000,0001., the
greatest development of production that this country has
ever seen. The import and shipping branches of these
tables are also satisfactory ; but as to shipping there is
one little fact that looks rather ugly. It is that in the
clearances for foreign ports the ratio of the increase of
American shipping is about fifteen per cent. greater than

SATURDAY,

that of British shipping. We are beginning to feel from
what quarter the pinch of competition will be most felt by
our shipping interests ; but we have no tear as to the ulti-
mate result. We cannot stop the extension of American
navigation ; but we can meet our rivals everywhere, and
obtain the g •eatest share of the profits wising from the
carrying ir ,de of the world.
From France the commercial advices state that the
period has naturally been one of considerable dullness,
owing to the season. We have heard but little during the
week concerning the Bank, except that it has d, j
dared a dividend at the rate of no less than twenty-six
per cent. per annum. Last year it was only twenty per
cent. Of course such a return cannot be otherwise than
satisfactory ; and therefore it may have been noticed that
for some time peat schemes have been proposed to engage
in branches of the banking trade, as practised in France,
which would interfere with these large profits. In the
meantime the Bank is relax:ng its purchases of gold at a
premium : but there is reason to believe, nevertheless, that
its stock, according to the nest return, will reach about
9,000,0001. The Bourse this week has had to endure an
extraordinarily active demand for money, owing to the two
settlements in ltentes and railways ; and the rates have
been extremely high. The new scheme of charging one
franc each admission to the Bourse, or 150 francs per
annum, has not proved very successful at present. It will,
however, by-and•by.
The specie arrivals daring the week have amounted to
about 677,0001. of which 600,0001. has come from Aus-
tralia. About '300,000/. has been taken for France and
the Continent, in payment for silver; and the flank has
secured 150,0001. The rest is on hand. The demand for
silver has not been checked by the affair at Canton. The
packet leaving Southampton for India and China will take
out about 400,0001. The West India steamer, which was
due yesterday, is expected to bring an unusually large
amount of silver from Mexico. If his anticipation is
realised, it is probable that the Bank will obtain all the
gold now on hand, as these supplies will be more than
sufficient to meet the Eastern demand for silver by the
succeeding mail.
The exchanges are on the whole a shade better than
last week; still the improvement is more nominal than
real.
Business in English Securities has continued to be in-
terfered with by the festivities of the season; but dealers
and others are returning, and more activity may be ex-
pected, nest week • In Consols little has been doing; but
investments have been made to some amount in Reduced
and in the New Three per Cents., both of which have
experienced a slight improvement. Consols have been
steady, but with a firm tendency, until yesterday, when the
news from China caused them to become weak, owing to
the harsh nature of our proceedings at Canton, and the
indefinite prospect of an early settlement of the dispute.
The closing price last Friday was 041 to lex div. The
highest quotation during the week has been 941 to
Last night they left off at 9ik to 1 ; this morning they
opened at 94 to 1, and closed at the same, looking weak.
The demand for money has caused a further decline of
ls. in Exchequer Bills. They have been quoted at 2s.
die. to 2s. prem. ; but to day they were Is. dia. to 3s. prem.
Railway Shares have generally manifested an advancing
tendency, particularly after the arrangement of the ac-
count ; but yesterday somewhat of a reactionary tendency
was visible, caused by the same circumstances that affected
Consols. No actual decline of consequence was however
established, except in the case of Great Westerns, which
fell fully one and a half per cent. This result was unex-
pected at the opening of business, for considerable deal-
ings took place at 60 ; but before noon reports began to
prevail that the dividend for the current half-year,
instead of being at the rate of three and a half per cent.
per annum , would be only three per cent. Great Noy
therns have been steady, and a further improvement has
taken place in East Lancashires, the reports of an amal-
gamation with the Lancashire and Yorkshire being still in
circulation. French lines have been steady. The Cana-
-1 dian lines have improved—Westerns to the extent of one
I half per cent. To-day Caledonions were lower; but
Great Westerns, after a struggle, maintained their position
at 6$ to 1, the price to which they fell yesterday.
Turkish Stocks have rather advanced since this day
week, but in other respects the Foreign Market has not
presented any features worth notice,
The same may be said of Joint-stock Bankilliscellane-
ous, and Mining Shares.
As we anticipated last week, the committee of the Stosk
Exchange have not confirmed their resolution to strike
out of the official list the stock and shares of the Great
Northern Railway and the companies dependent upon it.
The correspondence upon the subject will probably be
published.
Two suspensions have been announced in the foreign
grain trade. In one case the party had been in business
only twelve months. The loss in both cases is expected to
fall mainly on foreign places.
The dividend of ss. 6d. in the pound to the creditors of
the Royal British Bank who have proved their debts, will
be paid to-morrow and on Monday, at the South Sea-house.
The assignees have filed a petition in bankruptcy against
Mr. Humphrey Brown, M.P.
The prospectus of the Nude Railway Company has been
issued, with a capital of 1,000,0001., in 201. shares. The
entire length of the lines contemplated is 450 miles ; but a
commencement will be made with only fifty miles, from
projectla:-t d
hlensw
wiialilssenooontiobpveaenrpnyr:fleoeenra guarantee,
etahedavweith without which the
Cawnpore to Lucknow. Application has been made to the
notified their intention to
raise a federal loan of 480,0001., in virtue of authority re-
cently granted, and which is to the extent of 1;2001x101.
Of the 480,0001., the portion to be subscribed in Switzer-
land is 100,0,101., and the remainder abroad. The bonds
are to be of 201., 401., and 200/., bearing five per cent.
interest, to be issued at par, and to be redeemable in
twenty years by a sinking fund with annual drawings.

..., ji A charming Lay
with double curta
terry velvet; on t
flowers, half blue
trimmed with the
The Marie An
was in the begins
any coiffure more
The most ele6
Of blue, ruby, or vie
fined with white
fringe. Nothing
this embroidery,
ir
6.14 rich shades of
~.r* green. The ear
great effect on tl
If goat
.., THE Resolt
'f . to the naval
American col
f country, hung
stout old ship
Seymour, flal
• went on boat
. ,
i part of the
Victory, Mr
1 Victory, a pa
a. Royal Marin
board. Capt
take up thei
forward and
li alter spendio
in the latter'l
dockyard cle
hoisted the
k main, and fi
guns. Whit
Hartstein or
; down on bo
gt• then floated
of a British
..
being ended
tt. crew of the
three heart
Captain Hi
Pappalardo,
l and the Air
Seymour, at
Sir, the c
portant nii.,l
• fine to hope
frame shall
? ;.
Resolute will
nations. I
•
i professional
this ship.
4 t 3
Captain St
$. I am sure
United Ste
. • ' manlier in 1
and the of
memory of
,
This concl
. vessel to
• then left 1
~
tain Hart:
.. bidding s
,
other Bril
the few ci
4 ' bump sr e
'I ' enthusias
i •., officers a
!'• I, Captainiw 111

Per Cant.

Brazilian - 6

Danish 5
DUAL (Ex 12 6nil )21
French 5.

Do. 4l

Do. Bank Stock
Mexican 3
Peruvian 4i
Portuguese 4
Russian 6
Spanish 3
Turkish &cc. 6