The Express.
London, England, 1856-10-11 00:00:00

LONDON, SATURDAY, OCTOBER 11.

much, the Back and the Government will risk every
thing, prolong the crisis, and perhaps introduce
irremediable complications. A further ris in the
Bank's rate of interest is already oval the cards.
No one can foretell the consequences it the trade of
the country is to be starve, through the diversion of
the Bank's available tutu to the support of specu.
lation. That alarm, has already been taken is beyond
a doubt. Is the Finance Minister aware, when he
triumphantly parades the large surplus of imports
over expnitts of the precious metals, that he is
merely strengthening the spreading belief that
hoarding, the reet,it of distrust, is increasing to as
alarming exterc throughout the country f The re-
turns of the Bank of France, and the investigations of
intelligent inquirers into the state of affairs in the
provinces, strongly corroborate this view. Should
this absorption of the precious metes receive an
additional stimulus through any injudicious handling
of the reins of finance at the present most critical
juncture, the National Bank, despite its utmost
endeavour., will be driven to the earnestly•depr►
cited resource of suspending cash payments. Be.
lieving, as we do, that this step would involve •
damaging blow to the foreign credit of France, and
even, in its ultimate consequences, vitally endanger
the Imperial dynasty, we watch with intense interest
the movements of the French money market.

THE financial convulsion in Franco is daily becom-
ing more serious, and has now arrived at a pitch at
which hall-tnealures will be of no avail. From month
to month reiterated warnings have been given of the
precipice towards which the fatal system of blindly
encouraging speculation was hurrying the country;
yet the French Government hu uniformly refused to
believe in the reality of the dangers pointed out.
Instead of recognising that the current speculations
of the nation, and especially its foreign engagements,
were quite out of proportion to its means—
straitened as those means are, through the scarcity
of the harvests, and through the dissipation
of capital in the recent exhausting war—the Govern-
ment has ever been ready to listen to the represents-,
Lions of greedy competitors tor fresh concessions. We
derive consolation from the belief that the monitory
remarks of the English press have at least been
attended with the beaeficial result of diminishing, so
far as our fellow.countrymen are concerned, the
losses inflicted by the existing crisis. But the
disturbance indirectly occasioned in our market by
the bursting of the storm in Paris is so grave, owing
to the intimacy of the oonimercial relations subsisting
between the two countries, that the progress of
affairs in France is watched with the closest attention.

Signor Felice Orsini has consented to lecture at
Leeds, on Tkunday, the 16th, on behalf of the London
Committee for supplying the halms patriots with 100 canoes
gni 10,000 moakem. He slut lectures at Brigbton on the
14±, and Leeds on the 16th, end proceeds thence to New
CUM,. Northampton, and other towns to mbiek be MB
bass isvitod by isdasstial persons.

/Clic Court.

BALMOB.LL, Ovr. 9.

The Queen and the Prince Consort went yesterday
to the !Mid of Alt as Oinseeeb, where they remain the
night.
The Hoe. Mary &moor wee is atteadaaes epos her
!Welty.

Meetings of the Oxford University Commission were held
at No. 17, Greet Queen-street, Westminster, on Tuesday,
Wednesday, and Thanday last. The Commissionen pre-
sent were the Earl of flarrowhy, the Hoe. Edina
Twisleton, the Dam of Well', 81r John Awdry, and the
1 Secretaries.

Despatches were test yeeterday frost the Cabala Moe
to the Goverson of the North Awakes Provisoes.

We are informed that her Majesty, on her return
from &Wend sent week, purposes parttime a routs whisk
will obviate the necessity of her pusage through the streets
of London, viz., from the Great Northern Railway, near
the new cattle stsrker, on to the North Loudon Rae, and
from the latter line on to the London and South Waters
by insane of a junction at Hew. A eonnezion exist. be-
tween all the railways north of the Thames, having termini
in London, and the South Western. Her Majesty, therefore,
will be enabled to proceed direct from Scotland to Windsor
without (if she *home) removing from her mat, the Name
railway carriage proceeding throughout the entire journey.
Her Majesty will reach the junction with the North London
about 6.30 p.n. as the 17th instant.
The Doke and Duchess of Richmond are enter-
taining company at Gordon Castle, Fochabers, N.B.
_

We can hardly conceive a more unfavourable
document of the kind than the monthly balance-
sheet just issued by the French Bank. Financiers
of the sanguine school which has of late obtained so
much favour on the other side of the Channel have
not hitherto ventured beyond the aesertion that the
Back ought to hold bullion to the extent of one-third
of the notes in circulation. This proportion may,
perhaps, suffice in ordinary times ; but no doubt what-
ever can exist as to the necessity of the Bank's restrict-
ing its note issues in proportion as the metallic reserve
declines below this point of safety. How unfavourable,
then, are the inferences to be deduced, at this period
of panic, horn the return just published, which ex-
hibits the alarming deficiency of 2,773,0001. in the
coin and bullion, accompanied by a positive increase
of 22,8001. in the notes afloat. The total stock of the
precious metals is now reduced to 6,838,7004, against
24,843,8001. of notes in circulation. The proportion
of gold to notes is thus, in round numbers, as 1 too.
Looking at the accounts of the head office in Paris, the
mutt is still more striking, the bullion being
only 3,082,6001., against 22,079,0001. of notes, or u
1 to 7. It must be borne in mind, too, that this
state of things occurs in face of desperate efforts
to fill up the void by exceptional and flotitiossly
supported withdrawals of guld from England, the
United States, and other quarters. The malt of
these attempts is seen in the heavy abstraction of
gold from the Bank of England, as conspicuously
shown by the weekly returns which we this day
publish, coupled with the instant absorption of all the
fresh supplies that reach our shores. The coat to the
French Bask is indicated by its having thrown away
during the past month 25,0004 in the shape of
" premium on purchases of gold and silver," making
a total of 86,0001. expended during the last three
months, in addition to the loaf of 112,7001. incurred
for the same purpose during the first half of the
present year.

The Marquis and Marchioness of Breadalbane have
ceased to naive company at Taymoath Cutts, altar eis•
playing priacely hospitality to a sacoeseims of visitors for
several cansmative weeks.

The Earl of Loped'le remains in Paris for the
pflunt, but will Muni to the beating Kum.

The Rut of Clarendon left town yodel/lay to join
the counters and funny at the Grote, near Watford.

•
i Lady Charlotte Portal gave birth to a eon and
1 heir as Thandsy, at Ltveritoks House, Mato.

_ . .
A party of officers and nobleman—namely, his
Bierltem emit den' slimes*, Marquis B►cey de Neil,
, Chtvalier Lenses*, Liestaaant Silvatiol, Commandant Is

• •
Feesenba!di, and Signor Amino'', mm►mn cf the govern-
ment of the Grand Duke of Tammy, paid a visit to Wool-
wich on Wednesday. They first visited tba dockyard, sad,
havisg goaa over the elating-battery Thunderbolt and in-
spected the ♦arious bailing and decks, they proceeded to the
arms!.

A letter from Berlin states that, on the let of next
month, Prince Frederick Wallops, on of the Peace of
Primate, will assume the commend of the lltb infantry, in
garrison at Breslau. At shunt the middle of December he
will leave for Cslslent:, aad afterwards for Ragland.

Mn. A'Beckett, widow of the late gifted magis-
trate, has been masideramly sad liberally granted by the
noble Premier a plosion of 1001 per balsam. Lord Palmer.
stows liberality has bees farther shown in the gUt of 1001.
towards the meiatensace of Mr. Aeges B. Retell.

An examination of the other items of the account
exhibits equally unfavoursble features. So intense
was the pressure for money that the discounts have
increased by no less than 2,b97,6001. In view of
this rash for accommodation, coupled with the
wholesale I ffiax of gold, it may well be asked, Why
was the Brisk so tardy in adopting the obvious cor-
tire measure of a rise in the rates of discount. P
And how comes it that tte advances made upon
Bourse securities stand still at so high a figure?
The total diminution in the loans upon French go-
vernment and railway securities is no mote than
101,4001. It is, of course, through the entrain
nature of the advances still made by the Bank upon
commercial and Hoene securities that the perilous
expansion of the circulation, as compared with the
stock of bullion, is maintsioed. We admit that the
reluctance of the Bank to curtail its accommodation
to legitimate business may be leniently viewed.
The directors are doubtless aware how painful to the
commercial public, and how distasteful to the
Emperor, would be a farther important rise
in the rates of discount. But as regards
the advances made foe Bourse purposes, no
such plea can be urged. It is the bounden duty
of the directors, unless they are desirous of precipi-
tating a general crash, to at once throw the 13Juree
overboard. The commerce of the country has too long
been allotted a arc)ndary place in the consideration
of the rulers of the French money market; but the
time has now arrived when assistance can no longer
be extended by the Bank to trade equally with
speculation. Tho choice must at once be made,
and the Bourse mast go to the wall. Steps
in this needful direction are already indi-
cated in the recent decision of the Bank
authorities to advance on:y 40 per cent, of their value
upon the Rents', and 20 per cent. upon railway
securities; but the crisis demands much more strin-
gent meaeures. Should the consequent fall in Bourse
values be severe, and an effsctual bar be placed upon
fresh speculation, such results would be rather bene-
ficial than otherwise, for immense muses of stock
would be forced from the hands; of the weak 'peen.
lators who now hold them, and gradually placed in
firmer channels. The only hope of a really firmer
Bourse rests in this wholesome process of wirier
it of its weaker elements. No is there
any fear that the monied pullet, both of
France and of Europe, would be slow in stepping
forward to the IRICOOOF of the embarrassed market,
were confidence entertained that the financial Botha
titles will give up the crotchets by which they have
so long been guided.
If this salutary policy, so imperatively called for,
and so obviously suggested by the circumstances, bel
not immediately acted upon, we look with extreme
apprehension to the result. By attempting to do too.

The London Committee for affording relief to the
sufferers from the cholera is Madeira have sustaiaed a severe
loss, by the death of Dr. Rom, at Madeira. Dr. Rosa had
been is Eoglead only a short time when the intelllgilace
that the Leland had bees invaded by cholera readied him.
Is two days afterwards he was in the steam•pseket an his
way back, sad he landed at Madeira on the 30th Assad.
Hie humane lsboare at once commenced. Oa the vary first
day, amidst the welcome acclamations of high and low, and
before eves seeing his own family, he proscribed for up.
wards of 70 cholera patient•. Each succeeding day gave
ample stops for the auras, of hie anti:lag 'airtime cad
%Malaise. He had just completed • cholera hospital,
where the whale maid be treated under hie own eye;
bat his heseveleat mind had already draws too heavily
spun his physical powers, and within • wash he had aae.
combed to that malady whlcY he had so nobly volunteered
to combat.

THE LATE ME. CHARLES Rowcaort.—The sud-
siest death of this patleman—lately Consul at Cootranati,
and as author of Knee well-known works—on his homeward
voyage ea heard the ship Caernbins, was 'Headed by cir-
cumstances which are uod..•basdly 'mysterious. His family
sad the idiom oa baud, who witnessed his decease, are
damply impressed with • feeling that some foul play bas
taken place, bat ore tukab!e t 3 discover any positive evi-
dence. Mr. Howeroft'a 'aviator, it will be remembered,
wse withdraws by the American ministry at the time
of the withdrawal of Mr. Crompton's and thee* of the
other two Canals. He bad previously lived in perpetual
fear of his if., from the threats of the lower dye of Irish

emigrants who surrounded him, and who carried out their
native antipathy ag inst everything British. Oo the loth,
Mr. Bancroft, his lady, too daughters, and throe

was, went on board the Cherubim at New York,
sad very shortly afterwards he csromenced tildes
medicine, the symptoms of his indisposition being such
as te melts the suspiciat of the esptaia. The latter states
M a journal of the eue, published by the friends of th•
deonsed, that " During the whole illness his (Mr. Row-
croft's) pulse was not above seventy, toe, epos frequent
hmairies, did he express the slightest pain; twenty-four
boars previous to his death the skin end eyes were ex-
tremely yellow, and a few hours before the toupee become
black, and • black mucous substance issued from the
south. Having no means at hind of preserving the body,
whisk was becoming excerdingly putrid and affinitive, he
was this day, August ZS, in latitude 42 degrees north sad
longitude 64 dogma west, buried with the usual ammo-
ales. His death was gushily mysterious and caddie, sad
I cannot easily persuade myself that it was watostaL"
We regret to learn that the Very Rev, the Dean
of Christ Church, Oxford, is suffering severely from
bronchitis, sad that he wee emptied yesterday to leave
Oxford for Torque, is company with his medical adviser,
Dr. delsed.

DEPARTURE OP TUX DEAN OF CARLIBLE.—Dr.
Tait took his departure for Lawton on Monday lase. •
Rambo, of hie primal friends assembled ea the platform of
he Citidel 3 taloa to bid him farewell, and it la almost ma.
nreemary to odd that the parting wae sooompanied by many
ezpressionsof regret. Dories the last few days of his atop
if Cartheteti Ms dean bad bees eke goat of O. H. Head.
leg, ial iiellorrhy House. Oo Tuesday Ste dim Miklos/ea
at tile sunless of his ales Georgia's Caroline, daughtor
of the late &r Getup Simon, Bit., of lisaisbow, Derby-
shire, to AttaltibaM Campbell Swinton, Bal., be., of
Mimaarstanam Borwiek, which took klaee at St. Georgia's,
Hanoveragnara —Cove James t.
Hamm= CalITLL—The !allowing d
_lain' (Melted
vieltors am sow at Hewardea Costle:—Lord and Lady
"Fusion, Right Hen. Sidney Herbert, M.P., and Kra
Herbert Sier Was. Hmalleote, M.P., Lady Hostboote, J.
Talbot, ill, Hoe. Mies Lytteltoa, sad Mn. P•llltinare. 1
North W aimed&

THE KXPRESS, SATURDAY EVENING, OCTOBER 11, Isse.

EXPRESS FROM PARIS.

(MOM °VS OWN

PAlt,lB, FRIDLT Bvwwo.

The Emperor reviewed a division of the army of
Paris in the Champs de Mars this morning. There
are various reports as to his personal appearance;
but it is very evident that since he can sustain the
considerable fatigue of successive reviews which isat
Immoral hours, he cannot be so ill as some of the Bel-
gian journals persist in affirming him to be.

The Bank return., although decidedly unfavour-
able, had little influence upon the Bourse, where the
Maim of them had been anticipated. The Rents
opened somewhat languidly at about yesterday's
price, and afterwards went lower; but during the
last half hour there was considerable animation
in the market, end a great struggle between
the " bulls and the bears," in which the former ulti-
mately prevailed. The Threes left off at 66fr. 80e.
and 67fr. 10c., with a rise of 100. for cub, and 260.
for account. Credit Mobilier rose 10fr. Railways
were in considerable demand, and rose generally
from dlr. to 10fr. Mediterranean rose 20fr.

The Conatitsitoknesei publishes the following warn-
ing to traffickers in the ooin of the reales:

We are enabled to state that the note is the official jour
sal has been received with universal favour- Persona who
is melting down silver monies and selecting the
heaviest coins for sale my have fawned that
they were doing a legal thing, are now
warned, and we trait that this notice will suffice to make
than renounce a traffic condemned by the public conscience
and punishable by law.
_ _

There is a hesitation in the tons of this paragraph
which leads me to doubt whether the government
threat to put the very old laws on the subject, which
happen to remain unrepsaled on the statute book, into
execution be anything more than a brutum fisinten
put forth in the hope of calming the public mind
during a very serious crisis. Oyu est dare 4Yue set
disponere is a maxim of common sense as well as
law, and if a piece of Mr. which is mine
will fetch anywhere in the world 6fr. and
two sous, I cannot see either any morality or sound
public policy in attempting to prevent me from dis-
posing of it to the highest bidder. Imy attempting,
because I am convinced that the effort to interfere
with the natural laws of supply and demand will be
nugatory. Individuals m►y be frightened by the
scolding of the Manama. and Constitstionnet, bet so
long as circumstances give an adventitious value
abroad to French silver pieces, so long will they con-
tinue to ooze out ot the country. The laws invoked
are not for this age, and I persist in believing that
the French government will not really put them into
execution.

The "(enigmar states that the returns of the yield
of taxes, and indirect revenues, for the month of Sep-
tember, show an increase of 18,199,000 f. as compared
with 1864, yid of 14,500,000 f. as compared with
1855, instead of an increase of 12,000,000 f. as had
been estimated in M.llagne's recent report.