The Press.
London, England, 1858-02-13 00:00:00

vy 13, 1858.

ruling authorities or to popular ideas, but simply by the
operation of that natural law which in troubled times
brings the strongest mind, be it where it may, into the
post of highest command. But the public acts, even
of a public man, do not constitute his whole life. I knew
Sir Henry Lawrence six years ago. Travelling in the
Punjaub, I passed a month in his camp; and it then
seemed to me, as it does now, that his personal character
was far above his career, even eminent as that career has
been. If he had died a private and undistinguished per-
son, the impress of his mind would still have been left on
all those who personally came in contact with him. I
thought him, as far as I could judge, a good statesman,
and far-seeing in matters of policy, and I had opportunities
of witnessing, even among all the disadvantages of a long
and rapid journey, his constant assiduity in the despatc h
of business. But it was not the intellectual character of
the man that made upon me the deepest impression.
There was in him a rare union of determined purpose, of
courage, moral as well as physical, with a singular frank-
ness and courtesy of demeanour which was something
more that what we commonly call courtesy, for it belonged
not to the manner but to the mind—a courtesy shown
equally to all, whether Europeans or natives. I never once
knew him, and could not imagine him, giving utterance to
any sentiment which was harsh, or petty, or self-seeking.
There seemed to be in his temperament nothing of vanity,
nothing of selfishness, hut a moral elevation—a disin-
terestedldevotion to duty and to his country, such as is not
common even in the public service of England. He looked
at Indian affairs in a larger and more comprehensive spirit
than is usual among those who are concerned in their ad-
ministration. It was not his habit to give way to those
feelings of dislike and contempt fcr the subject race which
are everywhere and always the characteristic fault of a con-
quering people ; nor did he ever flatter himself with the
common illusion of overrating either the merits or the
popularity of a Government carried on by an alien people.
Like Munro, like Mabolm, he was personally trustei by
those under his rule ; in the Punjaub no hand would have
been raised against him.
_ _

He has shared the common fate of Indian statesmen in
this, that be was but little known at home in proportion to
the power be bad exercised and the stations he had filled.
Our regard only now begins to be shown when its expres•
sion can no longer reach him. But I confidently anticipate
that if any worthy record of his life should hereafter be-
come public, it will be one of those lives which contribute
to form the thoughts and to stimulate the energies of our
national youth. To exercise such influence after death is
a recompense granted to few ; it is an honour which
(unlike some) never lights on undeserving heads; an
honour not to be purchased or conferred—a reward which
men even in their last moments do not cease to prize, and
the prospect of which has oftentimes added consolation to
the close of an heroic life. Do any of you remember—per.
baps some may—what were the last words of Moore as he
lay dying on the field of Corunna? They were, " I hope
they will do me justice at home." Believe it, that desire
for justice, for worthy recognition of noble service, is
cherished by all those who have made and are making,
whether in peace or in war, the name and power of Eng-
land what they are. To answer to that aspiration is the
duty not of courts alone, not of cabinets, not of statesmen,
but of you, of each and all of you, as citizens of this great
and self governed empire. It is your interest and your duty
alike, if you wish, or if you hope to raise up in time of
future need such public servants as was Sir Henry Law.
rence, to show that you are capable of appreciating their
devotion, and tthat you are worthy for whom such things
should be done.

Resolutions in accordance with the object of the
meeting were proposed and carried, and a committee
appointed to collect subscriptions.

A GOOD SYSTEM OF VENITIATION in public or
private buildings is a great object. A Mr. Charles
Watson, of Halifax, would appear to have discovered
the secret of efficient ventilation at last. Mr. Watson
was lately commissioned to ventilate the Chapel
Royal, St. James's, preparatory to the marriage of
the Princess Royal, and he has since been en-
gaged in ventilating the apartments of Windsor
Castle. As to his success in ventilating and main-
taining the required temperature in the Chapel
Royal, we quote the following from the Halifax
guardian :—" We were not aware, some years ago,
when we first recommended our townsman's venti-
lator to public notice, that it would ultimately be
adopted in the apartments of Royalty itself ; but such
is the fact. The ventilation of the Chapel Royal at
St. James's, the state rooms, and the corridors
through which the royal marriage processions passed,
and where sat England's noble and fair daughters,
was intrusted to Mr. Charles Watson of this town,
who was present by special request at the Palace on
the 25th inst., superintending the process, being
privileged and honoured with permission to enter all
the apartments. Her Majesty requested the tempe-
rature to be kept at about 58 deg., and so faithfully
were the Queen's commands obeyed, that at the
close of the ceremoaj the temperature throughout
all the apartments was only 58 deg. The external
air was 37 deg. Although there were about 1,500
spectators inside the Palace, and the corridors, stair-
cases, the Chapel Royal, and other portions of the
Palace, had been painted and varnished, not the
least unpleasant smell was felt, nor moisture perceived
on the columns, walks, railings, or furniture, during
the entire day, and general satisfaction and comfort
seemed to be enjoyed. At the close, Mr. Watson
was highly complimented by the master of the cere-
monies, who pronounced the ventilation by his patent
ventilators to be perfect."

Gang Varktt anb Cttg Intelligence.

FRIDAY EVENING.
THE return of the Bank of England for the week
ending Wednesday last, the 10th inst., shows the
following changes compared with that for the week
preceding :

Decrease in Circulation £494,088
Increase in Public Deposits
Decrease in Other Deposita 824;430
Increase in Government Securities 143,15(1
Decrease in Other Securities
Increase in Bullion
Increase in Rest . .
Increase in Reserve
Bullion in both Departments
Circulation, including Bank Post
Bills
The position of the Bank is shown by this comparison to
be one of increasing strength. The addition to the stock d
Bullion is greater than was expected, and the probability is
that the aggregate, at the date of the next return, will
reach, if not exceed, 17900,0001. The Reserve is also
greatly enlarged by the redemption of a million and a half
of securities, the unemployed notes now exceeding
10,617,0001. These are the principal features of the present
return, and they amply justify the adoptien of a three•per-
cent rate of discount.

A further reduction of a half per cent was made in the
rate of discount yesterday by the Bank Directors. it was
only last week that they fixed it at three and a half per
cent.; now it is three per cent. About a month ago the
minimum was eight per cent. This great and rapid fall
in the value of money has been the natural consequence of
the accumulation of capital, from the impossibility of
finding employment for it in commerce, and the unwilling-
ness, after the experience of the last six months, to embarK
in any undertakings involving speculative risks. A very
sober feeling certainly now animates the market; the only
competition among the banking and discount-houses is to
obtain the best mercantile paper, while the general quiet-
ness of trade keeps the supply of it within very moderate
limits. So long as this state of things lasts we may expect
low rates ; but we apprehend that three per cent. is likely
to be the minimum at the Bank for some time to come,
especially as there is a renewal of the continental demand
for gold, and a general desire not to stimulate speculation.
The Bank of Frankfort this day reduced the rate of
discount to three per cent.
The Moniteur of this morning published the monthly
Debtor and Creditor Account of the Bank of France made
up to yesterday. It is favourable. The Bullion has in-
creased 1,260,101., making the present stock 11,314,1631. ;
bat no less than 131,3861. appears to have been expended
in purchases. The circulation is 22,908,0741., being
350,6.561. less than last month ; and the commercial
discounts have fallen off 2,840,4361., being now only
18,916,9471.
The demand for money has been quiet all the week. Yes-
terday and to day, however, there was a little more inquiry
at the reduced terms. The banking and discount•houses
are now allowing only two per cent. for deposits. Some
establishments are giving only one per cent. on sums
below 5001.

Large arrivals of gold have taken place during the week
from Australia and the United States, out of which nearly
half a million has been sent into the Bank. Fully
900,0001. is still en route from Australia, while further
amounts will come in from America. The demand from
the East and from the Continent is absorbing some
amounts, but less than might be expected from the state
of affairs in India and the general condition of the Ex-
changes. Under these circumstances, the stock in the
Bank is likely to receive further additions. According to
the official return published in the Gazette of this evening,
the imports of specie daring the week ending Wednesday
last, the 10th inst., were—of gold, 79'2,5951., and of silver,
436;4511.; making a total of 1,229,4461. The exports
were—of gold, 127,4391., and of silver, 222,6661. ; total,
350,1051. The imports consequently exceeded the ex-
ports by 879,5411.
The average price of Consols daring the week has been
96 to 1 for account, the highest quotatiors having been
961, and the lowest 954. Generally the market has been
firm, without much tendency to change. Even the reduc-
tion in the rate of discount, which was partially unex-
pected, failed to move it. In explanation of this steadi-
ness two causes are mentioned. The first is, an impres-
sion that Consols are at their maximum, even with a
three-per-cent. rate, at a time when the Money Market,
though apparently settling down, is too sensitive to jestify
any but bona fide transactions; and, next, the feeling of
uneasiness caused by the possible consequences of the re-
pressive measures adopted in Paris, and by the tone of
the public mind here upon the demands made by the
French Government upon the refugee question. These
circumstances have prevented a rise, for which, in their
absence, the market was certainly prepared; and as stock
has not been pressed for sale, the effect has been to pro-
duce almost a stagnation in business. To-day the market
presented just the same features. The closing price was
(*lto 1.
An improvement of about one-half per cent. has been
established in Foreign Securities, but business generally
has been inactive.
Railway Shares have not varied much since our last.
the influences which have deterred the public from invest►
ing in the fonds having operated against business in
shares. But there has been quite as little disposition to
press stock. Holders generally are not pressed for money;
and as money is becoming cheaper, while the traffics are
rather rising, they maintain their position with firmness.
The settlement has occurredduring the week, and it passed
over without difficulty.