The Express.
London, England, 1855-09-04 00:00:00

FRENCH FINANCE.

(rum A 00323SPONDINT4
The nooses of the system of open loans in France
is incontestable, and they must henceforth be ranked
among the financial "institutions" of that country.
Another successful engine, and a moot important one,
has thus been devised and employed by the govern-
ment of Napoleon the Third for breaking down class
privileges, and for carrying out his policy of demo-
cratising capital, thereby opening to all the means of
participating in the commercial profits for which
Francis offers so wide a field. To the future historian
of France the politico-economical system of the pre-
sent Emperor will furnish a most interesting chapter,
for it is doubtless the key to hie plan of internal ad-
ministration. Instead of employing the vast and ill-
defined power in his hands for the benefit of the few,
as his predecessors have done, he profits by their
errors, and with an astuteness for which few gave
him credit, he has evidently determined to base his
throne on the material prosperity of the masses, and
to interest "the people in the maintenance of the
existing order of thing..
Oct. of the earliest steps towards sapping the
monopoly of capital, and giving a practical bearing
to the theory of the organiution of labour, was the
authorisation of the two societies called the Credit
Foncier de France and the Societe Generale du Credit
Mobilier, and the extension of the powers of the
Discount Bank. The two societies above mentioned
are based to some extent on Law's system, and were
established to enable a number of small capitalists, as
in joint stock banks, to enter upon operations hitherto
monopolised by a few wealthy individuals. The crea-
tion of the Credit Foncier had, however, an object in
view more immediately interesting that very nume-
rous class in France the small landed proprietors, and
of relieving them of a burden which seriously fet-
tered their industry. It is well known that the
majority of the small estates are mortgaged, and that
the high interest charged, the coat of renewal of loans,
and the comparatively slow process by which agriLul-
tare returns the capital laid out, rendered a mortgage
generally the precursor of ruin. The Credit Foncier
was established then to grant loans on mortgage at a
moderate rate of interest, fixed from time to time by
the government, and including a sinking fund which,
at the expiration of the term, leaves the land free
and unincumbered.• The Credit Mobilier, on the

other hand, in addition to undertaking the great
financial operations hitherto conducted by the Roths-
child., the Oppenheims, &c., was more especially
created for granting loans on capital invested in the
public funds, or in the bonds and shares of public
companies. The object in view in both cues was to
enable the small capitalists, as shareholders, to
compete with the great capitalists, u individuals,
and by breaking down the monopoly of interest, to
render borrowing less onerous to the borrower,
and lending more profitable to the lender.
Both companies propose to attain their object of
mobilising the investments of the community at large,
by the double means of, firstly, advancing their
shareholders capital on securities to be approved by
the authorities appointed by the state, and them, by
issuing bonds representing the value of those seta-
ride, and bearing a rate of interest proportioned to
that which has been obtained on the original ad-
vances. It is intended by these means that the sums
lent, and which arise from an aggregate of small
capital., shall be again put into circulation in a form
more convenient than the securities which the bonds
represent could offer.
It cannot be doubted that a policy at once so
shrewd and so beneficial to the community in gene-
ral is well calculated to attain its object, and its
progress is of the highest interest, not only to this
country, but, above all, to those governments which,
in spite of every warning, still travel in the old ruts
which have more than once imperilled the safety of
the state machine, but which they still seem unable
either to see or to avoid.

• The rate of interest was lied at 6 per cent., white in
a.lnded the redemption of the debt in 60 years.

HAMBURG.

HAMBURG, San. 1.
The abuse of neutrality which I endeavoured to
::pose in a former letter is going on with as much
. spirit as ever. The newest dodge to pack a couple
of hundred weight of lead into the middle of a large
[cask of sugar, and it then passes through Prussia into
Russia. Another rather striking case occurred this
week. The screw steamer Constantine (an appro-
..

priers name to be employed in a smugglink triune.
Lion of contraband of war into Russia), from Amster-
dam, landed the whole of her cargo in this port, with
the exception of 150,000 lbs. of lead, which she car-
ried over to Marburg, for conveyance by railroad into
the interior, the oaptsin being prohibited by a special
clause in the bill of lading from discharging it here,
and sending it over to Marburg in lighters, as is fre-
quently done. It was ostensibly stated that its desti-
nation was Magdeburg; but it is clear to soy one who
knows anything about it, that Prussia is not in want
of lead, being abundantly supplied with this article
from her own lead mines in Silesia.
In saltpetre and sulphur there is nothing doing
this week, as the market is bare, the stock having
been bought up and sent to Russia.
One of our first-este houses has this week received
from Oldenburg—one of the partners in the Olden-
burg Consul-100.000 Louis d'ors in gold, to
be changed for dollars. This is one of the instal-
ments paid by Prussia to the Orandduke of Oldenburg,
for the mudbanks of the Jande-Busen, the future
Cronstadt of the Pruden navy.
Whilst the Senate of Hamburg were so blind to
the interests of the commerce of this place, as to re-
, toss to sanction the establishment of the North-Ger-
man Bank (the conseqienos is that discount has risen
to 51 per cent.), our neighbours in the sister city of
Lubeck are carrying out the ido,with the concurrence
and support of their Senate, under the name of a Bank
ofDiscount,whieh will be a vast facility for their pros-
perous trade. The capital required was subscribed
tor in three days, and a provisional committee has
been appointed by the shareholders, to draw up the
regulations and bye-laws of the joint stock company.

MonT B LANC.—On the 17th ult. another ascent
of Mont Blanc was made from Charnmmis by Mr. G. W.
Heard, of Bootee. United States, America, and Mr. J. A.
Chapman, from England, the former being bat 18, and the
latter 17 years of age. They left Chantounis on the morn-
ing of the 16ih, arrival as the Grande-Molds at 21 p.m.,
from whose they reamemessed the ascot et 2 a.m. of the
17th, sad sereeddly aildeved it by 9 Velma. They
remised ea the nand half as hoer, **yin a reesia•
ear and 'slimly sertserepted view the weather Wag
remarkably fee sail cleararm* isteseely sold. The
moms lin Odor *Malty, and they
MAW Oheresets se the roe Mars. This was the
Nrg der die Nast lowa Ardwrot W. Templar,
RAN" sal D. DIM&

ITALY.
, --..
owl( otni °lnt Sow

NAPLES, Arerre 28.

The Paris, whilst admitting the sufferings of the
Neapolitans, asserts that the King is ignorant of
them. The ignorance is easily explained, if it be
true, as it is confidently reported, that his Majesty
refuses to grant an audience to two classes of suppli-
cants, that is, those who apply for assistance from
the Monte della Miserioordia, and those from political
motives. But his Majesty has no reason to thank
his apologist; for if ignorance be any excuse for the
man, it is the strongest condemnation of the Sovereign
and the form of government. Be his Majesty igno-
rant, however, or be he not, the following absurdities
and enormities are practised under what is styled by
our Neapolitan journalist "the civil wisdom of the
King." I advert first to a variety of facts which
show the strong and bitter animus of this govern-
ment towards the allies. The arrest of some Augus-
tin friars has been already mentioned ; not that they
were guilty or even suspected of any political offence,
but as offering the only mode of getting at Monsig-
nor* Pizarro, the Papal delegate, whose sentiments
towards the allies were doubted. His papers having,
however, been obtained, examined, and restored, the
friars were set at liberty. The persecution of the Je-
suits, too, has recently been suggested by their open
advocacy of the cause of the Allies in the Cinitta Casio-
liea, and by the protection which their brethren received
in France under the present Emperor. This
to the diplomacy of the allies has again appeared in
the insult offered to Sig. Fagan, the secretary of the
British legation by the director of police. It is worthy
of note, too, that the recent persecutions of some of
the most distinguished families of the country have
been in those cases where the diplomatic agents of
two governments have been more especially received.
I shall mention some fresh instances. The Duke of
Bivona, a Spanish nobleman and a Carliat, resident io
Naples, has been distinguished rather by his amociatioo
with the Royalists; yet police spies have been openly
and permanently established before his house, and have,
penetrated into the interior of his society. The duke
went directly to the King to complain of the griev-
ance, when he was informed that on a certain night,
in the corner of a window in his drawing-room, the
affairs of the East had been discussed in a sense
favourable to the allies. Bivona was astonished, but
on a profession of strong attachment to the King, he
was liberated from this public espionage. It will be
doubted that such thiap can be ; let me give you,
then, another case. The Duke di Palliano, of the
house of Colonna, has a villa at Capodimonte, where
he receives once a week. His receptions have been
attended by the royal princes, the Count of Aquila,
and the Count of Syracuse; sometimes by the royal
princesses ; by various diplomatists, as the apostolic
nuncio; by some of the most distinguished personages
in the country, as the Cardinal Archbishop, Prince
Ischitilla, and other', yet for some time persons of a
vulgar appearance, well known to be police agents,
have been found in the gardens. Strict orders were
given to exclude every one from the grounds but those
who were specially invited. On the 19th Aug., how-
ever, when a fee was to have been given, three
persons seated themselves early near the large iron
gates of the grounds with, paper and pencil in
hand. The names of all who entered, amongst
others, the Count of Aquila and Prince Ischitella
were noted down, and when the name of the arrival
was not known threats were used to extort it from
the servants. This happened in the case of the
Countess of Casalmaggiore. The commissary of
police for the quarter of Capodimonte had received
hie orders to watch over the watchers, and see
whether they performed their strange duty. The
object of this espionage, which was doubtless to put a
stop to those social reunions, will be probably accom-
plished, as the Duke is shortly going to Rome,
which, by universal admission, is, beyond a doubt, a
paradise of liberty compared with Naples. The
Prince Torella has also closed his house, where the
most distinguished foreigners and natives once met.
The object is, of course, to appease the anger of
government, which has been recently poured
out against his son, the Marchese Bella, for
having attended the funeral of Dr. Cesare. Three
of the principal providers for the police, having free
access to noble families, are the Prince P
Gennaro —, and -- Captain of the Royal Guard
Whilst such is the disposition of the government
towards the allies, and each the manner in which it
is at this moment displayed, the maze of the people
are body and soul with us. There is not a house in
Naples where in its interior the affairs of the war are
not discussed both day and night; nor is there a,l
single individual beyond a corrupt circle who does
not rejoice at the success of the allies. Indeed, such
is the effect produced by the recent victories, that
even this people, deprereed and trodden in the dust
as they are, held op their heads with hope, and in
the prospect of deliverance seem no longer to fear the
prison or the stick. The same reckless feeling exists
as sprang up before the revolution of 1848.
Although nothing has transpired to show that there
is any political bearing in the visit of the Austrian fleet,
I am glad to say that the influence of the Archduke
Maximilian has been exerted in decided opposition to
the present state of things. On his arrival here be
particularly requested that Gen. Filangieri and Prince
Sumacs should be presented to him. The answer
was that the general was ill and in the country. At
a banquet which the King gave to the Archduke the
general did not make his appearance. Yet to this
man, beyond all contradiction, his Majesty is indebted
for the half of his kingdom. The King and the
Royal Princes were entertained in their turn by the
Archduke on board the Schwartzenburg : his Majesty
was accompanied by Generals Roberti, Gastani,
and Lettieri. Amongst the guest. invited specially
by the Archduke were the Generals Filangieri and
Ischitella. It is well known that both these distin-
guished men served under Gioacchino Murat. It is
further said that on the remonstrance of the Arch-
duke some change will be shortly made in the minis-
try. Del Carretto has been spoken of as Police Mi-
nister, and it is added that the Flogging Commission
has been dissolved by express order of his Majesty.
I gave you a few weeks since an account of Signor di
Lorenzo, a merchant and a banker, who had received
100 lashes well counted, and had been left for nearly
dead. The Grand Criminal Court, by whom
the case was to be tried, has since brought
in a verdict of " innocent " on the main
charge; that he was not guilty of resisting the
polioe force, but only of replying to a low agent of
polio* with " Reace parole," consequently the case
was sent to the Regio Guidioe to be tried correc-
tionally. Dr. Lorenzo Is still in prison. Perhaps I
should most correctly say that the " Flogging Com-
mission " is only suspended—no flagellation to be
permitted, except by a written order from the
Minister of Interior. A variety of reports are
circulating, which I give, though I do not guarantee :
That Sir William Temple and the French Minister
had demanded the dismissal of the director of the
police (probable) ; that this government has made a
considerable loan to Russia; that a French ship of
war has not received any answer to her salutes in a
Sicilian port. The fact is, the utmost excitement
exists here, the political cauldron is boiling over, and
what between oppression, violence, hope, fear, fury
and revenge, we are in a moat delectable state of
agitation. The Capri, coming from the north, has
been refused admittance into this port on the ground
of having lost a passenger on board of cholera.

The Nord, which sometimes publishes some sur-
prising statements, says that " Napoleon and Lord
Palmerston have promised the King of Sardinia to
add Tuscany, with the Duchies of Modena and
Parma, to his dominions."

Waicra.—A statement, just publislied. shows that
du amber of vowels wreak in the month of Almost
amounted to 109. Io the previous mouth of July. 70 muds
were wreaked ; Jam, 83; May, 98 ; April, 109 ; Mush,
la ; Yekessy, 164 sad in Isaury,