The Express.
London, England, 1847-10-12 00:00:00

COMMERCIAL 4. MARKETS.

MONEY MARKET & CITY INTELLIGENCE.
Two o'Clock.—We have a rather marked rally of
prices in the funds this morning under actual circum-
stances. Consols advanced to 83 to ¢ for money
and the 14th, and to 84 to k for the November
account, in which business is now done. From these
improved rates thero was a slight reaction of about
subsequently, but they have now again more than re-
covered, and, with a market apparently firm, are at
83} to 3 money and account, and 844 to 1 for No-
vember. The 1 per cent. continuation from the present
account to November will not appear so exces-
sive after what has been lately witnessed
of from I to 2 per cent. between the money
price and 10 days or a fortnight forward. A con-
tango of 1 per cent for about six weeks is equal to
the rate of between 8 and 0 per cent. for the year.
This excess oT interest is sufficiently indicative of the
straitened state of money affairs. Capitalists with
available resources might make, perhaps are making,
a brilliant business by purchasing stock for bank
notes, and selling to the Stock Exchange for time,
with the certain profit declared, or, if such their
opinion, waiting for the chances of a more decided
reaction and rise in prices still. The improve-
ment is mainly grounded, according to report
in some quarters, upon the meeting of the cabinet
council to-day, which is believed to be summoned for
the express purpose of considering and adopting some
assiatkal aseseare for present difficulties, and the
embarrassing position of the Rank. The result of
the council is, therefore, looked for with anxiety,
although with no very sanguine expectations any-
where. The fineness of the weather may, however,
have some connexion with the more cheerful situation
of the market, for such, without any other particular
reason, is not unfrequently the case in the absence of
any special cause of discouragement or adverse poli-
tical news. _ _

Reduced Threes are 811 to 21 ; Three-and-a Quar-
ter per Cents., 831 to 1; Exchequer Bills, 20s. to 159.
discount; Bank Stock, 180 to 5.
In foreign stocks we have little alteration, and very
few bargains doing. Mexican are rather worse, at
181 to ; New Grenada, 171 to 181; Dutch Two-and-
a-Half per Cents., 53 to 4 ; the Fours, 821 to 31 ;
Amish Fives, 18 to 19; the Times, 27 to 8. Por-
tuguese, 21 to 3.
examen FUNDS.
Bank Stock, 180 5 3rer Ct. Conk 5.3 t
3 per et Itpl. Aram, 813 I 3 per Cent A.. 835 0
Llolegu!! SUL, 200. V

,Lde
C 4.113.444 4 for N
FOREIG:
6er Ct. Anctrian Bowl.. 74 6
per Ct. IWO= BOWS,. b 7 9
2 Co.
Dirt.
d"tar'; —l3cD., 76 8
6 Ditto Neu, 74 7
r; Cttto iZerto, Arr. 76D7c1e., 33
Ditto Columh. Pd. IWo..
Columbian btut,,,lior 8c187)..21./
319tlerCjt, Dutch &lA., 43 1
4 per Cl. Cert.,. Dutch, 67 31

.../ 1lills.20•. to lac dls.
—aer. 84i 4
FUNDS.
1 per Cent Grenada Mr.. 174 184
Grenada Deferred Mr.. 34 1
5 per Cl Mexican. 1846. 184
Per Ct. Peruvian 1144. ti SI
Pertutetcre Cony. 11119: ilia 6
3 Vito Ct.
math Mr., IS 10
WMr Ct. rtualdl 11d.., 274 84
Deferred M., 13 14
Parive Ma.. 3; 4
Ct. Venezuela 8d.., 34 5
arsoolit Dtlerred Ilda, 9 10

RAILWAYS.—Prices are firmer, influenced by
the improved state of the funds, but our railway
market is quiet, and with few transactions. North
Staffords are par. Shrewsbury and Birmingham
B have been done at 2 discount. Shropshire Union,
225. Gd. to 235.

SALES EFFECTED UP TO TWO THIS DAY IN LONDON,
(Yesterday's prices will be found in lmt page).
Bristol & Exeter, 65 Midland, 107
Do. Thirds, 10 Do. 401., 40
Bueldngliamshire, q d Do. 501., 0 4
Csletlonian, 311 Do. Com. B st. and Dlrm. 0 per
E. Counties, 101 I Cent, 1194
Do. Perpetual 3 per Cent, No.l, North British, 231 41
ed par Do. I/11TM 12
Do. York Exten., 8 Do. Thirds, 101
Do.N.& E., 49 Shrews. it Birm. (A), 241
Min. and Glasgow Halve*, 12 Shropshire Colon, 14
Gt. Northern, 24 1 S. E. and Dover, 28j
Ot. N. of England, 217 19 South Wake 4
Ot. Western, 971 6/ Wilts, Som., & Wei., 9
Do. Halves, 371 York,Newc., & Berwick, 501
Do. Qrs., 151 Do. (Ortg. Neese. & 8er.),271 1
Do. nfthe 224 Do. !Eaten. No. 2 (Naive. and
Hell and Selby, 98
n. k York. Halves, 37 i 8er.31
La
Do. O.N.NC. Lreh... et i
Do. Qrs., 12 Ili York & N. Midland, 701 aei
Do. Thirds Beg., G d Do. Pref., 1441
Lon. & Blackwall, 5 Boulogne and Arnim, 134 1
Do. New, No. 2, 11 d Central of France (Orleata and
Lon., Brigh.,& South Cord, 401 1 Vierron), 141
Lon. and N. Western, 150 491 I Dutch Rhenish, 21
Do. Qrs. (L & B.), 27 Nor, of France, 101 I
Do. Fifths, 11 104 Orleans and Bordeaux, 3/ 1
Do. 101. eh. M. & B. (C), 44 Parts and Lyoos, 41 I
Lou. and S. Western New, 301., 28 Paris and Rouen, 34
Man., Buxton, and Matlock, 1 Paris and Strasbourg, 3
North Staffordmislre, 71 1 Sambre and Meuse, 61 4

PRODUCE.—IINCINO-LANE, Haff-past Two.—.
The public sales of Sugar consisted of 150 hhds. Barbadoes,
9,500 bags and 300 casks Mauritius, 2,000 bags Bengal, and
80 hhds. Porto Rico; Coffee: IGO bags Plantation Ceylon.
The Barbadoes went off rather lower; the tine sorts were
most in demand. The Mauritius a mined low parcel, and
is progressing heavily. The private contract market Is
very dull; refined, also standard quality of lumps,
54a.—The Coffee chiefly bought in, buyers refusing to
give last week's price-s.—Rice has been steady, with &limited
amount of business done the last two clays at the full prices
of last week.—lndigo : The quarterly sale commenced to-
day; about one.third only of the quantity that passed auction
found buyers at a decline of 2d. to sd. upon previous &ales'
prices.—ln other articles no alteration. A general want of
activity is apparent.
PRICES CURRENT. .
Broca, per ewls nvry ram. Pigs, No. I. SO 0... 0
W. India, B.P.bwa. 335. 0d.3115. Od Hoops ll 15... 0
Yellow &Grey ... 37 6...44 Cargo atCardlN Mx 9 0... 0
Pine .... .... .. 42 0...49 Swedish II 5...0
Ilaeritins, Mora... SO 0.. 36 Lain, at per ton.
Yellow 3B 0...42 Ptg, beet lB 10... 0
Fine. 43 0...47 Milled, *beet l9 5... 0
BengalkMadru,h. So 0. .33 Bars 22 0... 0
Yellow 34 0...39 Patent shot 2l 0... 0
White 4O 0...48 red or minium ... 19 10...20
FOI*IIIOIOIIII 34 0..43 Speller 2O 0..21 1
Yellow 3B 0...40 Ono, per 232 imp. gal. dm.
Grey end white- 40 0...48 Flab, 6m4 pale 2B 0...28 1
Refined, Hambro'.. 00 0...86 straw 27 0... 0
Lamps 93 6..36 Mown k yellow.. 34 8
10../33 1
West omit-
Cormr, in Bond.
Reed Mang :46 :..111
India,
nary 23 0. 33 0 Cod 27 10...0
Good. 36 0. 60 0 Muth See 27 0... 0
Fine 65 0...133 0 Olive,Gallepoli,p.ton 47 10..49
Ceylon, good ordi- Cocoa Nut
nary ... .... .... .... 33 6... 24 6 Seed. Rape, pale,
Fine ordinary... 35 0... 38 0 per ton 37 10...32
Flee 4O 0... 60 0 Linseed 25 10... 0
Noels, good to Ane 2 i 0... 82 0 Paovmons, per cwt.
Coats ]ties, ordi- Butter—Cork, lit 9O 0..12
nary to line 35 0.. 52 0 2nd 0 0 0
Sumatra end Pa- 3rd 0 0... 0
_ _

drag 24 0... IS 0
Tat, at per lb.
Oorlioa,comataa. 0 0 9
Baca, at per cwt.
Bragal white l3 0... 16 0
Cargo 9 6 11 0
lass l3 0... 17 0
Patna 22 0.. 34 0
Carolina 26 0... SO 0
61.111 ITO.

Dublin, id
Limerick. do B7 0..90
Carlow, IA 9O 0...96
Newry, NIL 0 0.. 0
Waterford 5B W 93
Beef, India, per
tierce
Prime Mesa 0 0... 0
Pork, prime mar— 82 6...95
Bacon.Pork,Loark t w •
Do., Belfast " • •
Baton, Waterford,
per ewL ...... 0...80 0
Beirut
Lard,Belfairt,prfrk t 5, 0
Waterford, do "
Ditto Bladder
American
Mom, Ox and Cow, at per lb.
B. A. and M. Video,
04.5 d On 71d
Vied 09.0318...0
dry 0 4f...0 6
Unsalted
ItiO, dry 0 41. 0 Si
Lima & Vain. dry 0 3 ...0 6
Weg India, dry 0 4 ...0 5
Oohed 0 81...9 44
Beat India 0 4 ...0 101
▪ 13.4 .Ass, dry 0 7 ..0 8
0 81...0 9
8. AMR.IIOIIII, per
bide 5 0...11 6
Ronda, ditto ...... * 6 n... 3 6
Dra WOODR, at per ton.
Leawood, Jamaica A 5 0... 510
lionduraa ........... 5 3... 5 14
Campenchy 7 10 10
Puetic, Jamaica 5 10... 6 10
Nicaragua, large aad
solid 9 0 16 0
@mall .
Lime 10 10...16 12
nap= 10 10.. It 0
Red Sanders. 5 0 5 10
llraril 18 0...50 0

Ram at perlndiT
Leeward and
Proof.
Demerara, 26 to
86 pm mac
2 10 ... 3 1
Jamaica, 30 to 36
per cent. O.P. 3 111 4
Favourite marks 4 6 ... 5
Brandy, lot brands 4 6 . 5
British spirits, d.p. 10 6 ... 0
Scotch
Irish lO 6 ... 0
FL.4a, per tun.
Riga, P.T.It £43 0 52
St. Petersburg, 9
head 0 0 0
Dutch and Flemish 53 0...83
Friesland
e, at per ton.
6t.Pettrsbuigelesug39 0 . 40
outahot .... 34 0.. 39
half arm
Rig; Rhine
outahot
pun
Btanllla
Earl India Sum— l6 0...18
Bombay lB 0...24
Jute
TIN, at per curt.
Banes B4 0 0
Straits
Coco la blocks BB 0.. 0
lion, at per ton.
tan aitt to so

TALLOW.—The delivery for the past week is
greater than any on record for the corresponding period of
the year. This is worthy of notice in itself i but, taken in
combination with the state of the money market, it becomes
perfectly astonishing. There is, we believe, no trade ap-
proaching in magnitude to the Tallow trade, in which so
large a proportion of the burineu is done for ready money,
as in this market. We speak not now of the
operations of dealers, bat of the purchases made by the ulti-
mate parties, the manufacturers. And this, while it shows
the bones fide property of the persons engaged in the trade,
explains, at the same time, how it has happened that Tallow
hog been less affected than almost any other article by the
monetary crisis through which we are passing. But Tallow
is not alto ether unsuaceptille to the indocile° of the resent
crisis. If a fall has not taken place, a very considerable rise
has; at any rate, been prevented. We speak within compass
when we say that at least four-fins cd the Tallow lately
consumed has been paid for within the fourteenth day

of purchase, and of this by far the greater part
on the very day the goods were bought Fee the remaining
one-fifth, credit has been obtained ; but on such terms as to
induce the buyers to do with as little Tallow as possible. So
that it may be affirmed, with the most perfect truth, that
both these, and many of those who have paid in cash, would
have taken a much larger quantity, could the usual accom-
modation have been granted to them. Seeing, then, that
the demand is repressed within the narrowest limits by the
state of the money market, and that nevertheless it greatly
exceeds any former period, we may safely argue its continu-
ance in the same relative proportion to other years, as it is
scarcelymore possible to conceive of credit being restricted
is
than it at present. But there is another, and a very im-
portant consequence, which may possibly arise out of
the crisis. The total quantity of Tallow for ship-',
meat this season is estimated at 140.000 casks against an
average of 115,000 casks for the last five years. Large as this
quantity unquestionably is, it is of no moment in our present
inquiry, as it has been long known that this quantity existed,
and to this expectation our prices have been, so to 'peak, ad-
justed. But it will be of great importance if any considerable
portion of this 145,000 auks should winter in St. Petersburg.
It is, therefore, well to consider how far the want of con-
fidence so generally prevailing here, and which, in its cone.-
quenoes, has swept down, within the last fortnight, two
houses deservedly enjoying the highest credit in St. Peters-
burg, may lessen the disposition and the power to make pur-
chases on the other side, and, by consequence, affect the ship-
ment of Tallow.

Theli;eriFo;-tie week embus 1 1644. 1545. 1816. 1647.
October 9. I 1,566 2,668 2,219 2,541
Price of Y.C. on the ap0t,".47a.; October to Den mbar, 46a. ;
January to Much, 475.

CORN.—BoTLaY, Get 11.—Wheat, white, per
load, 151. 10s. ; rid, 161. ; common, 124. 101. to 131. lisrley
was oft M. per qr., best reaching 40a.; second quality, for
malting, 345. to 3.5 e Oats, 2.6 e. to 295. Beans, 50s. to 665.
Peas, 44*. to 60s. 'Rye, 20s. to 21s. per seek.
. .

•
BRIDLINOTON, Oct. 9.—A short supply of Wheat, which
sold at an advanee of 24. to 3s. per qr. Of Barley but very
few samples were offering. Oats, Beans, and Peas were in
good demand at the rates of this day se'nnight. Wheat, 535.
to 575. Barley, 28e. to 32.. Oats, per stone, 10d. to Ild. •
old, 13d. to 14d. Baum, per qr., Ms. to 525. Peas, 38s:
to 41s.

CAMBRIDGE. Oct 9.-A large supply of Wheat sad
Barley. In Wheat there was no alteration in price. Barley
was dearer. Wheat, red, 48e. to 60e. Barley, 30s. to 355.
Peas, 50e. to 525. Oats, 21s. to 26e,
CIRIINCEBTER, Oet. 11.-Supplies continue on a moderate
scale, and the attendance of farmers rather small. Wheat
sold at last week's prices, but rather a dull inquiry. Barley
commands attention at improving rates. Oats a pretty good
sale. We quote Wheat 131. to 141. 10s. per load. Barley,
28s. to 38s. per qr. ; Oats, 235. to 335. ; Beans, 48s. to 565.
DONCASTER, Oct. 9.-A large supply of Wheat. The
trade opened ateadily at folly last week's prices ; towards
the close more anxiety was manifested to buy, and 6d.
to Is. advance obtained, the market being well cleared
of all descriptions. Oats {met a retail demand at previous
rates. Old Beans rather dearer, and well sold up.
Malting Barley made Is. advance, and grinding samples 2s.
over last week. Wheat, new, 20a. to 224. ; fine, 235. to 255. ;
old, 20s. to 21s. ; fine, 235. to 24... Blendcorn, 18s. to
19s. ; fine, 21s. Rye,lss. to les. ; fine, 17s. Beans, 18s. to
205.• ' old, 20s. to 235. Peas, white, 15e. to 17s. ;
per three bushels. Oats, new, 21s. to 255.; fine, 265. to
275. ' • old, 245. to 28s. • fine, 30s. to Kis. Barley, 325. to 365. ;
fine malting, 365. to Ai. per qr.
HADLEIOR Oct. 11.-We had a very good supply of
Wheat and Barleys to-day ; the sales made were at fully last
week's prices. Neither Beans or Peas worth notice.

HUNTINGDON, Oct. 9.—But small supply of Wheat, for
which more money wu made. Barley, Beam, Peas, and Oats
all rather dearer.

LEICESTER, Oct. 9.-The corn market rather better sup-
plied. Wheat sold 2a. per qr. dearer. Barley Is. to 2*.
higher. Beans eta eimilar advance. Oats about as last week.
MALTON, Oct. 9.-The supply of all kinds of grain has
been small. Wheat is in good demand, at 2s. to 3s. per qr.,
and Barley Is. per qr. in advance. Oats same as last week.
New Wheat, white, 625. to 70e. per 40 stone ; red, 565. to
625. ; old, white, 625. to 681. ; old, red, 665. to 625. ; Barley,
to 35a. per 32 stones; new Oats, 114 d. to 12d. per stone;
old, 13d. to 15d.
NEWPORT, ISLE OP WIGHT, Oct. 9.-The Wheat market
here today was from 2a. to 3s. per qr. advance over last
week ; Barley le. higher. Beans spd Peas fetched rather
more money. Oats at about last week's prices. Wheat,
from 13f. 10s. to 141. per load. Barley, 28s. to 331. Beans,
4411. to 46e. Peas, 40s. to 425. Oats, 225. to 265. per qr.
Flour, 435. per sack.
NORTHAMPTON, Oct. 9.-An avenge show of Wheat,
and at the commencement higher prices were asked, but the
market closed heavy, at a little or no improvement from last
week. Barley continues to come slowly to hand, and folly
realised last week's quotations. Oats and Bees must be
noted a tam dearer.
NOTTIXORAX, Oct. 8.-We bad a large suppl of Wheat
from the fannen ; the trade ruled dull, at an advance of Is.
per qr. The supply of Barley was not large ; an 'drones of
Is. to 2s. per qr. was very reluctantly given by the =Raters.
Thcre was less inquiry for Oats; we quote the same as last
week. Beans maintained their value. Wheat, old, white,
per 36 stones, 575. to 625; red, old, 551. to 605.; new,
white, 57e.t0 62a. ; red, 56e. to 60s. Barley, malting, per
imperial qr., 345. to 38s. ; grinding, old, per 30 st., 281. to
30a. Oats, old, per 24 at.. 30s. to 341.; foreign, 255. to
315.; English, new, 2.55. to 30s. Beans, old, 565. to 615.;
Egyptian, per 38st., 42a. to 445. Flour, superfine, 43e. to
454.; fine, 395. to 42a. per 20 stone.
PRESTON, Oct. 9.-Then has been considerable firmness
in the trade since this day se'nnight ; bu', owing to short.
time in the manufactunng districts, the consumption of
breadstuffs is lessened, and our transactions with the dealers
are, in consequence, more limited than we have experienced ,
for some time at this season of the year. Several vessels are
reported at Lytham and Gleason, and their cargoes will be
at hand next week. We had a moderate supply of English
Wheat at our market We morning, which met a fair de.
mend, at an amendment of 6d. to as. per windle, and Irish
commanded a similar advance ; but we had none of the
superior qualities on sale. English Flour unchanged.
American held for Is. per barrel more money. Beans plen-
tiful, and new 34. per windle lower. No new Oats offering
ready for delivery. Old stationary. New Irish Oatmeal
needed in value.ls4. per load, but there was rather more
doing in this article. English about le. per load lower.
Indian Corn and Indian Corn Meal neglected. Bran scarce,
and in request. The average price of Wheat this week is
54e. 4d. per imp. qr.
RICHMOND (YORKSHIRE), Oct. 9.-The supply of grain
was thinner than usual. Prices were a shade lower than
last Saturday. Wheat sold from 6e. 941. to Be. Oats, 2s. 9d.
to 3e. 9d. Barley, M. 9d. to se. Beans, Ss. to 6s. 3d. per
bushel.
- -

l an buyers were
SHREWSBURY, Oct. 9.-There was a good supply of same
Flee and the trade ruled firm as follows : Wheat, 7s. 3d. to
mreeetfk:ard g‘OVba4d demand; as also did
7s. Ild. Barley, 4s. to 4s. 10d. Oats, 3s 4d. to 4s. 4d. per
Inclined to give. Bartley
imperial bushel. W
BYBYNI%D, Oct. business doing
today, farmers asking o
Oats, Beaus, and Peas. Wheat, old, white, 141. to 151. ;
old, red, 131. 10s. to 141. ; new, white, 141. to 141. 10s. ; new,
red, 131. to 131. ss. Barley, 325. to 35. Oats, 21s. to 225.
Beans, 42a. to 44. Peas, 395. to 40s.
Swieinow, Oct. 11.-The sale of Wheat was brisk, at an
advance of 2a. to 3e. per qr. Barley, finest heavy making
samples, 38s. per qr. ; good, 356. to 36e. ; inferior, 32a.
Malt, Bs. per bushel. Beans and Peas scarce, and fully as
dear. Oats in good request, at from 255. to 30s. per qr.
Tares, best new, Be. to Bs. 6d. per bushel ; old, 71. to 7s. 6d.
YAIMOura, Oct. 9.-We have had a fair supply of Wheat
and Barley this week. Wheat met a slow sale, and prices
hardly so good as this day week. There was not much Magi-
ness doing, as the sellers were not willing to give way in
price. Barley, for the beat malting, in request, and may be
called le. per qr. dearer. In other articles of grain we had
very little doing, as nothing of any consequence was offered
for sale. White Wheat, 541. to 565.; red, 50s. to 545. Barley,
30s. to 335. Beans, 44e. to 465. Peas, 465. to 475. Oats,
225. to 265. per qr.

CHEESE.—WETntu, FAIR, Oct. 11.—There was
not so much Cheese pitched as in some previous years.
(scarcely 100 tons). Today there were but few purcbuen.
The prices lower. Finest Cheekier, per cwt , 705.; good red
Somerset, 565. to 60s. ; North Wilts, of fine quality, 565. to
585.; common, 50$. to 545. ; best half-cowards, 40s. to 425. ;
skims, 26e. to 28..

HOPS.— BOROUGH MARKET. Two o'Clock.--
Wan. Patteeden and Smith, hop factors, report that the
market remains the lame.

Tew Mtd• E. Heats 41. oto il. S Yearling Rentsp. cwt. 21.16 to 3LIO
New Weald o( Kente 3 oto 4 4 I Ywwllng Sows: o 210 to 3 3
New Stave
Farnham.......... 0 oto 0 0I

WRTHILL FAIR, Oct. 11.—A greater number of pockets
arc already brought in than were expected; all must be in
the Farnham rows or stores by twelve o'clock to-morrow.
Though the number this year will not come up to 1846, yet
a large fair is expected in what are called the country rows,
where the Alton, Froyle, Almford, Crondall, Odibam,
Bentleys, Binfield, and other Hops are stored. The London
row has a good number of London Hop-factors already
opened for banner, to sell the Sussex and Kent, by temple ;
prices cannot as yet be quoted, but the geteral *pinion here
L, that trade will be dull and prices lower, from the srreat
scarcity of money, and many people Rill holding the Hops
of 1846.

HAY.—SIIITHPIELD, 7 ery o' Clock.-31ettare. Cooper
and Date, Hay and Straw Salesmen, report the trade rather
better. . _

idoidow 766. to 1 Ito .. a. to --s. 113traw.. 276 to 32..
luferlor

CATTLE, &C.—BARNSLET MICHAEL MAS FAIR,
Oet. 11.—We had a moderate supply of Horses at this fair,
which peer only of a moderate description, with few excep•
tions ; those which were good fetched high rates, others
acoording to quality. The show of milk Cows was large,
and they were sold at from 3!. to 41 each less money than
at last fair. Pigs were abundant, and for good ones from
7.. to 7s. ad. per 14 lbs. was obtained, and other stores of

• he enirefs*

MAIL*.

The Brazils malls will be eiliakepfOl Rio de Janeiro, to be con-
veyed by ILM. schooner Spider. The postage on letters on for.
warded will be at the rate of 2s. 7d. the half-ounce from the port of
despatch, and 9d. the half ounce from auy other pert of theteited
Kingdom; and newspapers will be liable to a charge of 2d. awl, ell
letters intended to be sent by this vowel must be specially addremed
By H.M.S.Zikr.. The Spider in expected to sail on the morning
of the Lith
The WsM Irma moan excluding those for Menleo, Honduran sod
the liamonolhveM be made up on the morning of the 18th October.
The male ft 911 p. Oporto, Lisbon, Madeira, Cadiz, and Gibraltar
will bowed* op on the morrung of the 18th October.
The mans be Wash North America, Bermuda, and the Unitoi
Mateo, will hems& up on the evening of the 18th October.
710 overismi moils far Gibraltar, Malta, Greece., the laden lolanda,
zr,rA Atka. Haeg-Kong, and Chins, via Southampton
willies mho seas innwing of the 20th October.
The demi malt' eta Mancilles, to the MealiVreureen.
=hi% =ro HIM Kong, he., will be made up on the
tithe
/be male be My nth Wake. Van Diemen's Land, and New
fee Mod will be mdse.'s the swift of thee, lot November.
The mails AeonnMe,the awe Plat Monte Video, Scream-
.tlißtad..ltr Ohl Belalle. Aires, will be made sp on the

TO COMISTTONDINTL
•,. 14•••11atrambi Istibbbott be TV Lg." Leaks ~mg , mast be
at do Oite, 10, Boaverie-atavet, W Tv, o'clock as W day pabliaatlea.

11011 WATTS AT L011001.4.1111D.R.
T. D. —ldemia& 13 ala. prt 3t A1t4••••44 *We. pool 3.
T4.llloasev—M•ralas, 11. pot 4 ; Mamma, II W. mg 4.

LONDON, TUESDAY, OCT. 12.
IN our anxiety to promote discussion and inquiry
on the subject of currency reform, we republish
another plan, which has been put forth through a re-
spectable Manchester contemporary. Our readers
are, however, aware, that in thus fulfilling our duty
as journalists, we reserve our opinions on the points
at lane. These we take to be, whether parliament
is so wise, and the trading world at large so foolish,
that it is imperative to pat the latter under the
guardianship of the former ; and, secondly, whether
it is necessary to knock down our present established
system in Coto, and set up a spick-and-span-new device
in its 'stead—the advantages as well as the faults
of which we can now only glean from the descriptions
given by the originators—or whether a mere removal
of restrictions that are now universally denounced,
and, indeed, all bat given up by their quondam advo-
cates, would not be the safer plan.
On the first point—the utility of parliamentary tute-
lage—we shall here say little. We should rather see
the merits of electing any guardian over the common
sense of the nation evolve themselves out of a recog-
nition of the true principles of currency. Of the
plans for proportioning paper issues to certain reserves
of gold we have already spoken, and declared
that we thought they presented an insufficient
guarantee to the public. This opinion we must
extend to the plan suggested in the Econo-
mist, which would withdraw at least one-half of
the gold now in circulation, to substitute bank notes
for three times its amount. Independent of their
offering insufficient security these plans involve a
palpable contradiction. Whilst inculcating the fallacy
that a bank note is of no value, unless convertible into
gold, they yet allow the Bank of England a considera-
ble capital—not only not of gold, bat not even of iron,
sugar, grain, or anything else—but consisting
merely of a debt due by government to the Bank.
They shut their eyes even to the dilemma in
which the Bank at the present moment stands,
owing to this absurd contradiction in the charter act
of 1844, on the possible practical result of which at
the present moment we decline saying more, than
that the sooner it is looked to, the better, not-
withstanding the confident tone of the Examiner.
We have hope, however, from the cabinet council of
this day.
The Bank capital having been employed by
government in its own way, some century or two
back, it required all the confidence of the ballionists
to assume that the present capital, made up as it
is of government credit, would stand their test. We
heartily wish it may,whenever it comes to be requited.
But the very high tone assumed—the abuse of
men of long experience in the commercial world, u
if they were both incapable of calculation and regard-
less of their fair fame in the world—is not the
best way to conceal a flaw ; and it will be better
to examine into the real facts, in a calm and
business-like manner, than to attempt to mystify
what all who run will soon be able to
read. A little foresight would have shown
that it was unwise to attract danger to the
vulnerable point. Gold or bullion, when re-
quired, is usually sought at the extremities. It is in
manufacturing districts, where wages have to be paid
—at our great importing harbours, where bullion is
wanted for exportation—that it is first looked for. To
have to draw it out of the Bank of England, demands
a two-fold, sometimes a three-fold, credit; for, every
bill discounted at the Bank must have two London
names upon it, and for those the country house must
pay in some shape. Upon this position of a
national bank, which has only a debt in case
of need to fall back upon, we think a dif-
ferent plan from that concocted in 1844 could have
easily been constructed. The credit of the govern-
ment is doubtless well worth fourteen millions ; but se
' is, perhaps, the tobacco now stored in the London-
docks. The only difficulty is how to tarn either into
sovereigns when they are suddenly demanded. Nor
can we see any way out of the dilemma, save that of
letting the Bank resume her good old safe position as
a citadel of credit in the midst of a busy, thriving,
active population, watching over their doings,
exciting their industrious dispositions, drawing
moderate profit from their gains, and not
participating
in their risks. If we left a
body of people accustomed to mercantile cal-
culations to themselves, we should, probably,
see them build up a hill of credit like ants, by laying
sticks and stones and grains of dust together, slowly,
perhaps, but with wonderful insight into risks to be
guarded against, avenues for escape, conduits to
carry off water, and pliant supporta to withstand or
bend to storms. If amongst these any aspired to

trade in money—one of the oldest trades of
which we have any account—there is little doubt
that in Lombard-stmt, in Liverpool, Glasgow,
and Hull, there are heads able to compass
what long since was known to Lombard., Flo-
rentines, and Easterling'', that if they make use of
credit they can only do so by providing due means of
payment. The business of buying gold and silver in
quantities suited to the current demand of the coan-
try would pass back again to a certain set of mer-
chants who held it formerly. With these merchants
all who iesned notes or bills would have to deal, and
they would quickly perceive whether their issues had
a tendency to send the gold out of the country or not.
The rules of banking are now so well understood, and
the experience we possess has been so dearly paid for,
that we think fathers are likely to teach them to their
sons when destined for trade, if the old plan of learn-
ing one's business did not also revive with the good
old habits, which we trust would be the case. No
man, enjoying in this way his indefensible constitu-
tional right to make the best use he can of the credit
he has earned by good conduct, could easily impose
upon his neighbour, since it would by no means be
necessary to make private issues a legal tender ; and,
when each notes were issued, the issuer would be
obliged to state in what he intended to pay them.
Private bankers would probably. as hitherto, make
them payable in Bank of England notes sr gold. In
addition to this, there need be no reserve in making
silver a legal tender for moderately-sized sums. Bank
of England notes issued against the loan to the crown
might be a legal tender also.
To set this whole system going, which is nothing
more than going back to what we were, there is little
I legislation needed. The repeal of all restrictions, and
the permission to issue small notes convertible into
gold or Bank of England notes, would reinvigorate
the shattered credit of the country at once. It would
throw the demand for gold from the heart (where it
is plainly mischievous) to the extremities, where it
can do no harm. The branch banks will act wisely
is relinquishing their delegated trusts to the loml
banks m the country, and these will act wisely
in assuming, as speedily as convenient, the un-
pretending business-like exterior, and safe sphere of
action, of the joint-stock banks of Scotland. The im-
portance of this subject at this highly critical moment
will excuse our recurring to it soon.

IT is impossible to read 'without the deepest con-
cern the murders perpetrated upon landlords in
the county of Tipperary, and upon such landlords as
Mr. ROE. That gentleman has resided on his pro-
perty during the late season of distress. He eeta-
bliahed a soup kitchen at his own expense for the
poor of his neighbourhood. and hie sisters presided
over the distribution. Both these ladies suffered
under dangerous fever caught in their charitably
tending the destitute. Mr. ROE was setting on foot
large improvements of drainage, which would have
offered increased means of employment for the
labourer. A man held under him seven acres of land.
Of these he only cultivated a small portion, allowing
the rest to lie waste. He owed two years' rent. As a
yearly tenant, he could not be dispossessed until two
years had elapsed. The landlord then endeavoured
to remove him,and made him the offer of foregoing his
arrears, giving him 101., and the crop standing on the
one acre cultivated. The tenant refused these offers,
in consequence, say the magistrates, of a conspiracy
into which all the tenants of the estate had entered
not to pay arrears of rent. To attain this immunity,
they met and debated whether the agent or the land-
lord should be sacrificed, for the murder of one was
considered indispensable. According to Lord GLEN-
GALL, they decided on murdering the landlord, be-
cause, as his children were young ;the management of
the estate would fall into the hands of the Court of
Chancery, whose receivers would not be harsh, and
would probably either remit arrears or grant reduc-
tion. Under these incentives,-and in consequence of
this general understanding of the tenantry of the noto-
rious barony of Middlethird, Mr. ROE was shot. In
another column will be found the letter of a gentle-
man residing near Cashel, with some details, and such
information as was current in the country.
It is impossible not to sympathise with the indignant
and alarmed feelings of the magistrates and landlords
of the county, who met at Cashel, and forwarded an
address to the LORD LIEUTENANT. The sentiments
expressed in this address are those of loyalty to the
throne, attachment to the government, and full con-
fidence in the perfect understanding which Lord
CLARENDO2.I is admitted to have of the state of the
country, and is his zeal and unwearied exertion to
improve the condition of the law and of the people. It
is impossible not to admit the enormity of the griey-
anoe, being the utter insecurity of life. Yet what
remedy, what means of security, can they propose to
the LORD LIEUTENANT ? Absolutely nothing. They
merely deprecate the possession of so many stand of
fire-arms by the people.
Of what airthly avail would it be to pass laws, and
establish an inquisition, to prevent the possession of
fire-arms by the peasantry ? If, indeed, the peasantry
were bent on rebellion ; if they assembled and drilled,
and if they meditated a rising in numbers, to oppose
the military or wage open war ; then, indeed, it would
be incumbent on government to disarm them. Bat of
what use could such an enactment be to protect the
life of a landlord against what is admitted to be a
general conspiracy of the farming and tenant classes of
his district? One gun sufficed fur this murder, and
would suffice for any. Would not one gun be found
in a whole region in despite of the most rigid perqui-
sitions and the most severe penalties? We might see
some use in an arms bill against armed bands, or even
in prevention of assaults by night upon houses ; but
against the solitary assassin, the proscription of fire-
arms would fail. He would be sure to have the fat4l
weapon at him disposal.
Every aid that police or military force could give
to the exertions of the magistrates of this criminal
district should be bestowed, and every law accorded
likely to enforce or produce permanent security. The
legislature, however, has little faith in coercive mea-
sures; and even the magistrates themselves do not
call aloud, as they would have done some years back,
for such. Let us see if the recent records of the state
of this very neighbourhood will not point to other modes
of rendering the population more moral and tranquil.
It seems generally admitted by the witnesses on
Lord DEVON'S commission that leases had quite gone
out of use in Tipperary, although that tenure was
formerly granted. Three-fourths of the land are
now held at will, the tenant being thus kept in
a state of continual distrust and alarm. The
landlords, too, act upon the most different prin-
ciple& Some allow tenant-right, some do not.
At Nenagh, one district of Tipperary, accord-
ing to Mr. BAILEY'S evidence, tenant-right exists for
land held by will, as for land held by lease, and very
nearly " the fee simple is paid for the good will." At
Cashel, on the contrary, tenant-right is allowed to
leaseholders, not to tenants at will, the farming
population having been reduced from the former to
the latter condition. In Tipperary, too, although one
gale of rent wu not paid till the other was due, even
then the gale was paid by means of usurious loans
raised in the neighbouring towns. It may be ima-
gined what effect the failure of the potato crop must
have had on a population whose most prosperous
times were passed in this way. A tenant might
have been in two years' arrear of rent without any
lack on his part of industry or honesty. Yet, under
such circumstances to take his land, that is his only
means of subsistence, whatever the right of the land-
lord to eject him, generates vindictive feeling, which,
however criminal, can be understood.

On the other hand, the landlord has not merely his
usual incentives to get rid of an unproeperous tenant.
He is, moreover, sore pressed, and never stood so much
in need of drawing rent from his land. The poor law
threatens him, and makes it no longer poeaible for
him to leave an insolvent and non-paying tenant on
his ground. He is told on one side to improve, on
another forbidden to clear. And the landlord is
thus frequently placed between hammer and anvil,
between the stringent law and the refractory peasant,
acting by turns one and the other for the helpless
proprietor.
Immense allowances ought to be made for both
classes, for difficulties, for ristour, for exasperation.
Never was a time in which all conditions of Irish, ex
cept always the agitating and semi-seditious few,
deserved more indulgence, or more consideration, and
in which both landlord and tenant hate more reason to
cry out for
are getting through the present dreadful epoch of
patience to be shown them, whilst they
transition, and almost of social revolution.

created
neeted

relations with China will be found in
lamn7 In report
moifnuthtees octmecmiditeteenceownh°i7u.v....:i:
it, will be found much to lighten the '4". w".
created by the recent failure of so many' 14,
nected with the Chinese and East India .• •
101
3