The Press.
London, England, 1858-04-24 00:00:00

PIE S S, APRIL 24, 1858.

Tons en remercie en tonte sineerite. En appraissant au
milieu de vous, j'ai la confiance de rappeler aux dent pays
le souvenir le plus glorieux de lour alliance, ec mon plus
vif desir, croyez le bein, est d'être acueilli comme le sym.
b le dune politique loyale, digne et ferme. Ma conduit
toujours sera degagee d'arriere pensee ; et je ne cessersi
d'en puiser le mobile dans cette grande itlee, qu'apres
avoir eu tent d'occasions de l'estimer en face ou eke a
cote, une alliance solide et durable entre deux grande
peuples implique la condition neeessaire que I'honneur de
ne soil jewels sacrifie a I'honneur de l'autre. Je
viens a vous Tons tendant une main bein amie; j'y viens
plein de respect pour vos institutions et pour votre
gracieuse Souveraine ; et c'est de tout cwur que je
m'associe de nouveau au toast pone a son auguste
personne, et que je bois a la prosperite de l'Augleterre, et
it la perpituite de son alliance avec le noble pays tine je
represeute parmi vous.
The Duke of CAMBRIDGE next proposed the
" Armies and Navies of England and France,"
formerly pliant foes, and well conscious of each
other's merits ; but now, having stood together, he
hoped they would long and always continue to do so.
His EXCELLENCY acknowledged the compliment as
follows

Vous venez d'aecorder de loyauz eloges I l'armee et
Is marine francaises ; elles y seront seusibles, n'en doutez
point, et ssuront retrouver dans les nobles souvenirs que
vous egoquez tout ae qu'elles portent de cordials estime
et de fraiche consileratiou u l'aruis eta marine britan-
niques.
the Duke of CAMBRIDGE followed with a few brief
and forcible sentences on behalf of the British united
services.

His EXCELLENCY presently rose and said :
Monseigneur, Je suis heureux de voir que Votre Altesse
Royale preside la noble reunion que rn'sdrnet aujourd'hui
dans son sein ; je suis heureux d'y revoir, au milieu de
tant de freres d'armts, un des premiers soldats de l'armie
de Crimee, un amide l'artuee francaise ; et je me livre
l'espoir que si nous somtues assembles sous les auspices
de l'union, (wile qq ii doit regner entre nous sera desor-
mais iternelle. Permettez moi un toast sincere it Votre
Altesse Royale.
The Duke of CAMBRIDGE acknowledged the honour
conferred on him. He could truly say that no one
had a higher admiration than himself of the French
army and navy. He had seen its gallantry and
devotion in war, and shared its good feeling in the
peaceful vales of Chalons. The concluding sentence
of his Royal Highness's address was lost in the uni-
versal applause which acknowledged the sentimeLt,
and in the midst of this pleasant excitement the
party retired to the drawing-room.
Befote leaving the banquet-room, the Marshal ob-
served that, although his ignorance of the English
language prevented him from knowing exactly the
meaning of his Royal Highness's word-, he bad
understood them with his heart if not with his ears,
and lie could not better express the sentiments with
which they inspired him than by asking of the Duke
of Cambridge permission to give him "a hearty shake-
hands," as he could not do so with all the illustrious
officers then present. This extempore incident pro-
duced great enthusiasm.
The Duke de Malakoff retired at a quarter to
twelve o'clock, shortly after which the Duke of Cam-
bridge left, which was the signal fur a general break
up of the party.

THE TRIAL OF Da. BERNARD was concluded last
Saturday. Lord Campbell summed up strongly
against the prisoner, but the jury, after a brief con-
sultation, returned a unanimous verdict of " Not
Guilty." The announcement was received with
considerable applause by a crowded court. On
Monday Dr. Bernard, who was still detained in
prison under further charges, was liberated on bail,
and since that period the Government have aban-
doned the prosecution.
MR. TOWNSEND, M.P. for Greenwich, and a bank-
rupt, has offered his creditors two shillings in the
pound. The offer has been accepted upon the under-
standing that a subsequent annual payment of 2001.
be made.
THE INQUEST ON THE MURDER NEAR TAUNTON
has resulted in a verdict of" Wilful Murder" against
the grandson of the murdered couple, John Baker
Bueknall.

glom #larket anD itg nteiligence.

FRIDAY EVENING.
THE return of the Bank of England for the week
ending Wednesday last, the 21at inst., shows the
following changes compared with that for the week
preceding :
Increase in Circulation
Increase in Public Deposits
Decrease in Other Deposits
Increase in Government Securities
Decrease in Other Securities
Increase in Bullion
Increase in Rest
Increase in Reserve
Bullion in both Deparimerts
Circulation, including Bank Post
Bills
The principal features in this comparison are the increase
in the Bullion and the Reserve, and the large diminution

AM

in the amount of Private Securities. In all these re-
spects the tendency is obviously towards the Bank offer.
ing money at a lower rate than three per cent. The de.
crease in the Other Deposits is caused by the repayment, on
the part of the East India Company, of 900,6001. borrow' cd
upon the security of its Bonds, and there is, of coarse, s
corresponding diminution in the Private Securities, which
are now at a lower amount than for a very long time peat.
Money has been in most ample supply, and the rates
have practically declined to two or two and one•eighth per
cent. in the open market. Lombard-street has conse•
quently been doing more business than the Bank, where
the minimum is still maintained at three per cent. This
state of things has been produced, in the first place, by
the payment of the dividends having largely added to the
unemployed reserves of the discount establishments; and,
in the next, by the East India Company having repaid to
the Batik, out of the twenty-per-cent. instalment upon
the Debenture Loan, a sum of 900,0001. towards liqui-
dating the 2,000,0001. borrowed during the finaueidl
pressure created by the mutiny. This operation, while
reducing the amount of Private Securities held by the
Bank, has swelled the aggregate of unemployed capital.
So that at the present moment, while there is only a very
limited commercial demand, the situation is favourable
for a reduction in the rate of discount, by whicli alone, it
is believed, the inquiry, under existing circumstances,
can be stimulated. Such a measure was partially expeettd
yesterday; but, judging from the state of the Rank
accounts as given above, and from the tendencies of the
market, it seems unlikely that the Directors will defer the
reduction beyond next week.

I

The market has also been favourably influenced by the
financial statement of the Chancellor of the Exchequer.
Up to the very hoer at which it was made, wrong opulions
were expressed that the right hon. gentleman would find
it impossible to produce a satisfactory budget, and it was
confidently believed, in quarters of high financial autho-
rity, that he would obtain for Lord Derby's Government
good deal of odium ; because, it was argued, there was no
alternative open but, on the one hand, to add to the Funded
Debt, and, on the other, to increase the burden of the In-
come Tax. The countenances of the speculators upon
these assumptions were downcast ou Tuesday morning,
when they found that one of the simplest and clearr,t
budgets ever produced involved neither me nor the other
of these measures, and that, without adding to the real
taxation of the country, a surplus---certainty small, but
still a surplus—was actually crested. The course adopted
had never occurred to any one of the prophets of mil, and
all their vaticinations were completely upset. The post.
ponement of the redemption of the Exchequer bonds, and
the repeal of the War Sinking Fund, at once commanded a
cordial assent, the reasons for which need not be repeated
here. The proposal to equalize the duties cn Irish and
British spirits was received with even more than a merely
cordial assent ; men asked themselves and each other why
a measure so obviously just and necessary had not been
thought of before. And the proposition to put a penny
stamp on bankers' cheques was received with almost
equal favour ; though the bankers and the jobbers and
dealers upon the Stock Exchange are moving heaven and
earth to procure the abandonment of this part of the plan.
The popular wish in the City, however, is that this oppo-
sition may be defeated. That the Budget, as a whole,
has obtained the approbation of the commercial and
moneyed classes is proved by the present value of the
Funds • and the only point upon which there is a diffe-
rence of opinion is just such a one as is likely to be the
more approved by the public the more it is discussed by
the public. In this respect the penny Burnt, on cheques
strongly resembles the penny postage and the penny
receipt stamps.
',lry arrivals of specie have been reported this week.
They amount to 623,5001., of which 113,7001. is from
Australia; 41C,8001. from the West Indies and South
America ; 74,0001. from the United States • and 21,00)1•
from the West Coast of Africa. About 200,0001. has been
sent into the Bank. Very little has been sent to the Con-
tinent. Rather more than 400,0001. is still ea mule from
Australia. Silver remains ve.y dull, and it has declined
one-eighth since oar last. According to the official return
published in the Gazelle this evening, the imports of
gold and silver in the week ending the 21st inst. amounted
to 713,0151., and the exports to 147,1001.
The Continental Exchanges are growing more favour-
able to this country. They are also better from the
United States.
Consols, which last Friday closed at 901 to 1, began to
show a good deal of firmness after the financial statement
had been made; and, notwithstanding a fall upon the Pars
Bourse, in consequence of the result of Bernard's trial,
and the apprehensions created in timid minds by that eie
curnstance, they improved until last night they left off at
961 to 97. This morning they opened at 96 to I ; and
the final price was 961 to 07. The Government broker has
been almost a daily purchaser of Reduced, but his opera.
tions have amounted only to an inconsiderable aggreffete,
not more than 70,0001.
Railway Shares are nearly all better, though there ore
exceptions. The traffics, though they
still compare very
,
unfavourably with those of the corresponding period of
last year, show a progressive weekly improvement, indica-
tive; that commerce is gradually reviving. Business
still inactive ; but investments have been freely made in
some of the preference and guaranteed stocks.
Banking and Miscellaneous Stocks, including Foreign,
are, upon the whole, quiet, without much change.
The Indian Loan is very firm at the best prices
la
week, and large transactions have taken place both in d
bentures and scrip.
At the half-yearly meeting of the Royal Mail Steam
Company, on Wednesday, a dividend was declared
out
per share, and a bonus of le, the latter beiag prevideotfi
of the balance on insurance account.
The Trade Reports of the week show an improvement in
the demand for most of our manufactures. of

FROM THE LONDON GAZETTE.
Tuesday, April 20.

BANKRUPTS.—ABRAHAM MARK COHEN, Commercial-road,
city•road, paper•stainer and dealer in paper hangings—CHAßLES
'srmireLL, Great St. Helen's, City,
merchant—CHAßLES
POWELL, Leather•lane, Holborn, cheesemonger—JOHN PIERCE,
Bisbopagate. carpenter aud builder—DANlEL
TIOEY, Buckland-crescent. Maize, St. Johu'a-wood, builder
SPILtiBURY BUTLER, CHRIsTOPHEft BAKER, and CHARLES
EDWARD BUTLER (and not Charles Edward Baker, as previously
advertised), Birmingham, factors, coffin furniture manufacturers,
and wire workers—BENJAMIN STARKEY, Sheepridge, near
Huddersfield, Yorkshire, woollen cord manufacturer—Wm-fan
THcolAs SENIOR., Horbury•bridge, Yorkshire, fellmunger—
TROIKAS WAINWRIGHT, Dunham-011AM, Cheshire, cattle sales-
man and butcher.
SCOTCH SEQUESTRATIONS.—JOHN NICOL, Aberdeen,
merchant tailor—JAMES GRAY and Co., Glasgow, engineers and
irouteunders—JOHN CHRISTIE, Aberdeen, auctioneer and
furniture deaIer—ALEXANDER SWIRLES, Arbroath, currier and
leather merchant—JAKE' BoAK, I.lltidill Mill, Largo, Fifeahire,
draper—JAMES HENDERSON and Co., Glasgow, coachbuilders
MILLER, Glasgow, straw bat manufacturer and wail:
heuseman—itonEar CRAIG, Saltcoats, Ayrshire, horse dealer
and innkeeper—AV. and A. ADAMSON, Leith, merchants.