The Express.
London, England, 1847-10-28 00:00:00

THE EXPRESS, THURSDAY EVENING, OCTOBER 28, 1847.

dends are not to be allowed to swell, in order to counteract
the effect of this depreciation.
It must appear strange to all conversant with the money
market, that a speculation evidently based upon a rise of
Interest, however occasioned, should have been entered into
apparently with a neglect of the inevitable effect of such a
rose upon the principal or funded capital of the country. If
our current rate of interest is to be 6 per cent. in future on
merchants' bills, a depression io the price of stock must be
expected, to correspond with the rise so brought about.
Perhaps this fact has already been discovered by the parties
most interested. SCRUTATOIL

THE FINANCIAL CRISIS IN ENGLAND.
From the Allgerneine Zeitung.
A faint light is gradually dawning upon the
financial crisis and commercial chaos which now desolate the
city of London, and, we may add, England in general. But
even thin light is not cheering, for it s►ows that even if the
failures may he pretty nearly at an end, the effects thereof
must still be felt fur a considerable time. It is now suffi-
ciently shown that the scarcity of money, caused principally
by the immense importations of provisions, and also by the
failures in the earn trade, has occasioned the eruption of an
old sore. This is the way in which great houses, like Reid,
Irving, and Co., Gower and Co., &c., carried on their
business: . .

Solely in order to be enabled to import much produce into
England, large advances were made to the planters in the
West Indies and the Mauritius, as well so in India itself—
advanees which, in the sequel, led to this consequence, that
immense properties cams factitiously, or even nominally,
into the hands of the houses in question. Thus the defunct
house of Reid, Irving, and Co., had more than 600,0001.
locked up in Mauritius plantations exclusively ; A. A.
Gower and Co., upwards of 200,000/. in the same island ;
and Cockerell, Larpent, and Co. equally significant sums
in indigo plantations in the Indian empire. The natural
consequence was, that these houses, which had thus
foolishly locked up :heir own capital in such (im-
mediately? unrealitable property, carried on their general
business rather by means of their credit than by means of
their own money, and were not prepared to meet great
convulsion■ in the money-market or individual lopes in
trade. The fall of these houses naturally pulled down
others. Perkins, Schlusser, and Mullen chiefly suspended
their payments because they had received by the last India
mail bills of exchange upon Reid, Irving, and other fallen
houses, to the amount of 2.5,0001., and the same with Fry,
Griffiths, and Co. The whole fact of the matter—the ex-
elusive cause of these dreadful disasters—is an exaggerated
and unnatural trade. Asia was deluged with immense
masses of English manufactures, and an attempt was made,in
order to procure payment for the same, to increase the produc-
tion of Asiatic goods by large advances, these ill-advised sa-
crificers to what Shakspere calls the " dirty gods" of
gain never once reflecting that this immoderate produc-
tion would in the sequel no longer find any outlet in Europe.
Thus there are now lying in England above 36,000 chests of
indigo—one year and a halts full crop—or, if what goes to
France and America be deducted, two years' crops ; and
that of the present year is extraordinarily high, being esti-
mated at about 27,000 chests ; and, at the same time, it is
to be considered that the yearly demand in England itself
and on the continent does not exceed 22 000 or 23,000 chests.
If the fall of such houses as Reid, Irving, and Co.; Cockerell,
Lerpent, and Co. ; and Gower, Nephews, and Co., is thus
explained, the evils which arise therefrom are not on this
account the less real, for the shipment of manufactures to
Asia must necessarily fall *if for the next few years.
The proepects in this respect are worse, because not only
the Asiatic markets are overstocked, but the solvency of the
Asiatics is declining, as the last news from Canton suffi-
ciently shows. Lyall, Brothers, and Co., chiefly suspended
payment as a' preventive measure, and only partially on
account of large acceptances upon fallen houses. On this
side, therefore, there is little hope of a speedy improvement,
and on the American not much more. It in true that at
least 6,000,0001. has been sent this year to America in pay-
ment
of provisions, and the freights paid in North America
are estimated at scarcely leas than 2,000,0001.; but this money '
has gone to foster the flames of the Mexican war, and the
American banks have scarcely a supply of ready money cot.- !
responding with this vast influx.
Accordingly, a rise in the value of money is contemplated
beyond the Atlantic, although some specie must necessarily
come thence.

1,500,000 francs hare already been sent from New York
to France. It is lucky that the immense exportation of
provision from North America has ennehrd the purses of the
natives, and the purchase of European, especially English,
manufactures will take a profitable turn. In conjunction
with these financial matters, the construction of railroads
continues to claim attention. The error that was com.
mitted with respect to Asia by a few large houses on a
small scale, viz., locking up capital in unrealisable
property, has ben repeated by the nation, as re-
gards the construction of railroads, on a large one ; and
there is still no prospect that the directors will suspend their
calls—in many cases they cannot. The scramble for ready
money between the commercial world and the directors of
railroads must therefore continue. All these circumstances—

and many others, which we have no space to enumerate—
taken together, render some step on the part of the govern-
ment imperatively n , were it only to restore the con-
fidence so deeply shaken ; for the worst feature of the pre-
sent state of things is less the evil that has actually occurred
—which, when all is disentangled, may prove less serious
than is now supposed—than the general diffusion of distrust,
which can only be lessened by an energetic step on the put
of the government.

charitable spirit of tenser times, and of the grinding oppremion dam
poor that follows the destruction of thew asylums l which were
treasured. in tract, for the indigent, the socumulationv of piety,
chooply feeding the hungry, clothing the naked, educating the igno-
rant, and affording consolation under every infirmity Mat affects
human Ware. _

such an earful Mole, which threatens each deetrnetion of human
Ilk, mecoorialista, anxious to preserve the mak of their Rocks from
Grime, and society from the denser of disorganieatirm, bag respell-
fully, by imploring your excellency to we your influence with bee
Majesty's govenanteut, to procure measures of relief commessurate
with the magnitude of the calamity.
Fee from looking foe mere gratuitous relief from the government
for the number. of able-bodied men who are without food, memorial-
ists should prefer employment, particularly of a productive nature
window from experience that such gratuitous relict has a demo:
reliving tendency, and may be perverted, ea a large portion of the
public charitice has been perverted by many into means of pro-
selytism, thAe abusing what was destined for Laving the hiss of the
starving into the meet annoying and vexatious aggression on the faith
le well as on the morals of the poor—an abuse of charity which do-
mande our etronersit reprobation.
The prospective measures calculated to check the recurrence of
I famineand promote the proem ky of the country, memortaida tee to
leave to the wisdom of her Majesty's government and the leftists,-
tore, remarking only that an equitable arrangement of the rela-
tions between landlords and tenants, founded on commutative jos-
tier, appears to them an memory, that without A they despair of
seeing the poor eufliclently employed and protected, the land mit
lkieutly cultivated, or the peace and prosperity of the country placed
on a secure foundation. Large tracts of land capable of cultivatiim
are now lying wide; the coasts abound in fish, which would give a
large .apply of food; enemeagement to work those and other mine.
of wealth with which the country Is teeming would be well worthy
of the solicitude of her Majesty's government The poor are patient
and long enduring, though suffering grievously; they are looking
with hoot and confidence to her Majeety government for relief, and
a prompt and humane attention to their wants will wave the lives and
secure the Meting gratitude of her Majelty's meet faithful people.
+ Jona, Archbishop of Tuam, Chairmen.
♦ J.lti Limy, Inahop of Clantert, Secretary.
Dublin, October 21, 1847.

. -
The memorial having been read, and presented in the
usual form, his excellency was pleased to make the follow-
ing reply :
My lords,—l tram I need not enure your lordithipe of the sorrow
and alarm with which I view the coodition of the western and
southern district. in Ireland, and that, to common with your lord-
ship*, I deeply commiserate the distress of the people, and fear that
In many localities the means indiepensabie fur the maiuteuthee of the
destitute are lameotably detteent.
I entirely concur with your lordships as to the ueefulaem of Ms.
torical references, and we should, lathed, study the history of Ireland
to little purpose, if we failed to Craw from past experience lemons
for our future guidance, and, by analyeing the enures of evils, to kern
how their remedies can be most effectually applied.
The eternal principle of jurtioe sad Christen morality can never be
violated with impunity, and the unrighteous letrielettort of bygone
times hap left traces which moot be long and severely felt. By penal
enactments, doubtless, Induotey was Maximised, property was one-
qually distributed, the growth of a middle clam wa. retarded, the
people were demoralised, and the who fabric of society was hollow
and immure. The remedy for push a Mete of things has of neseasity
been glow sod dilficult • but it is for the legislature, the government,
and for all there who, living In better tames, and exercising authority,
have at heart the true interests of Ireland, to efface the memory of
the past, and by equal laws, imparted justice, and forbearing
snottily to carry on the work of social regeneratiou, and =age
people of this country in the position they ere entitled to occupy.
In no country of the world is the strict application of the great
Christian thions cited by your lordships more neeemary than in Ire-
land. If the labourer was always worthy of hi. if all dames of
men did to others as they would be done by, mush misery and many I
meat mils might have been averted. If the entire crops of the hum
bondman be appropriated without compensating him for the seed or
the labour expended in the cultivation of the soil --that is to say, if an
e =erbium and disproportlonnte rent be crue:ly exacted—Woo altered
maxims are unquestionebly violated ; but, on the other hand, if the
owner of the soil, who is as much dependent open it as the occupier,
be deprived of hie fair and reasonable share of its produce—if he mu
neither obtain rent nor the surrender of hie land, and el, in fact, dam'
posemed of his property by • non-fulfilment of the conditions upon
which he shared Elie rights with another—then, beyond doubt, •
similar infringement of the maxim occur.
That society should exist without laws for the protection of pro-
perty is inapanible; that these law. in Ireland have often been grossly
abased is undeniable; equally true is it that from this have ensued
• deplorable crimes, and also, that they have followed the due and
legitimate exercise of rights. I well know that your lorilthipe always
recogniee, oral inculcate the legitimate rights of property—that you
deplore and reprobate the guilty outbreaks of violence and revenge,
.d your precepts and your high autbority will, under Gods amen.
thou, I venture to hope, impart to society • more wholesome tone, and-
teach the owner. and occupies of Ithd, that tent enemata, rightly
understeal, are identical, that there exists between them a reeipne
city of obligation, and that the well-being of bete elm*. are imepar-
' ably connected. Towards this good work the general character of the
people afforde hardily and encouragement, as no people on earth are
more eager for justice—for kindness, none are more grateful than the
It ise, and assuredly none have endured the cruellest privations with
more exemplary patience and resignation.
The legislature haa deemed it expedient to render property more
available than hitherto fur the support of destitution. That the law
may prove inadequate for Meaning all the relief required In an emer-
gency like the present, Is hut too probable; the extent, however, to
which it will fall short, has yet to be amertained. No man who to
resources of his own should bare • legal claims live upon those of
others; upon none but tbe absolutely destitute should that nght be
conferred; and in order to ascertain the fact, to prevent fraud, and to
protect the it.dustriout agaimt the indolent man, the test of the
workhouse has in Ireland, so in England, been deemed indispensable
The workhouse., however, must not be overcrowded; if they
are full, more athemmodation must he provided, or relief out of the
workhouse must he given in the manner which the law prescribes;
if the guardians are relthtant to enforce rates—if them who are able
to pay them refuse to do so, a groin dereliction of duty is committed
by both; but the non-application of the law doze not prove its inade-
quacy. I can, however, aware your lordships It shall not be left
wholly dependent upon the caprimem discretion of them who admi-
nister it, but that a clone, and constant, and vigilant inspection will,
as far as posable, secure the effeetthl carrying out of its provisions.
It would be unbecoming on my part to contest the judg.
meat of
_your 'ordain/. respecting the abolition of those
mylume alluded to by you, nor shall I wheel to the oppo-
site conclusions to which I have motif arrived, after twig
residence in countries where similar. establishments mined,
but I fully admit that with the rapid increase of population, the
charitable spirit of former times may have fallen into decay, and on
that account the neoestity of rendering it coruptilaory is all the more
stringent. Since the failure of the potato, the nit...oily has incensed
tenfold of organising ter system of charity which exhaled in Ireland,
when in ordinary years more than a million and a half of persons
have no regular means of maintenance, and suteit upon the benevo-
lence and chantheriatio charity of those somewhat lees poor than
themselves. But this charity was always administered in the sha
pe
of food, and ceased with the failure of the potato. The support of the
poor woo then necepthrily thrown upon property in Ireland as in
England, where, although from a million and a half to two million
perrone arc annually supported out of the rate ale a coat of
are mUllom, equal to • tenth part of the whole national 1••• One, the
rights of property are not thought to be unduly invaded, nor do we
consider that we phould kill our 'nom' obligations, air could we
reckon ugon the tranquillity of the country, If there wee no legal
provision far the absolutely destitute; and ht the same fight I sm con-
vinced the law will eventually to viewed by every reamemble and re.
il awiscian in Ireland.
that the prospects of the winter arm shenem and
foreseeing that scarcity would exid, and the amts at gram.
ing feed would be insualcieet, I have endeavoured threagh every
channel, private es well as official, to obtain aseerale M-
formation es to the state of the country, and the
that were making.. Meet the cries ; end it le my duty c=27,
ethane' le may gerts alkalised the landowners sad the Mum ere
strenuously aid Mk maeljia. lounge exerting themedom MI are
premiere N Mss IdlyM se to their owe lelmaila Moe, but
to the trade at[around thigh yet OM their =-
duet le metrieled villithet al others, Mire se swab senile of
obl apposotheadd; sal eft Mire maim I appeal to the
whither hirilemee who have matributed
little or Ma, est avail them.
seem diadealleitirthei=e for imming their
wente•—wbether pram le sew diameters who mid the pay-
ment at sates—whelser hems eh* retard list seems to cultivate
Mr Md, unmindful of the vat desk Meier OM by the sweat of
hie le man shall live, wldieelluelt lOW h well able to
sit Silk absolutely idea teatemmebyment Is a es, and
Me Mehemet time We -tenese may ask est emit•--mbetbes
Vlset redly la atm Me mewls Nmellme smemblepe In
biped lalladdelkg the gemilmed le ram the public
vast, Midi Ne bi se kdsmarelliallea—l Male such
as Me will mho is~ media me sairtim amedose, me In a
mmalthes be WM NM /slier mita the premed el region
aid the iskreft if sedity Imam ogee them ihresed be
pesfermei Wan. ow Mar Alist tie usm far this
Mehl ho smiled by the meesemmt Ina &MIS all
oseulste• sad et • memmt Iles liwyleal trade
INV= dlembooel
newt the Mmailies Mere' el heti-
dredeatthimeme. y beteg throw it emsemmust. mod belay m
et the awe M odium as Ike peermt semi be blind.
I em sese yew lemblipe ME epee 'Mb me am the IA emeemet of
milks Mill Oar remedbm hes Mid has mob Me•—eml that
gibedlt.Y Milre elime abpealdelaterggd.ee am be
I am, hews. OEM, sloe M Me Mel art be Emmy &Mete
as s.in emikl mama, slab as mesa et lead imam ma
time; sat Owe the imee• pammert IMM ef
▪ yemermilm enema 116—ern yeeleemeiL C=lerl—•
bee sap. me
mar MW emelleime
U.
sal lbws OM We MI sited mask
Mem gear le week reaDy eigiaftdoe. eel I teed UM
sal•tlMMonmearee mmellesoidtisseserem
ths
unembleke.47l6oomyy gendißsidiemsutist
the Omit areas kitbag um wit isaldmfary
Noe
Menai
It am • stem at any time was iromfetbdiZawa by air-
ametmees 'M to ed meths, tt hare at the timme ;
Way weep/ tram a Wu*, Mal her se he the maids
:tarn., me me OM Is mar teerAber delis ri=mis
midi lab m wind by
ever Owes= • Mem Mem tssri kelp ma pay Milb BMW
tegieri MIMI=
e=erier!` le am, la Slue penes el a
peal mil mama demw. Them maim uralselom seem *Mg
iem me deeds% EMI itftem *MOM Year re-
um will meet MpfterlVee Os mcs.
Weir Sem albs Wag yeememme. ea/ e• win
terile• his
Mrs thelbmam. the ellielthe ef in MN l• dbmilibe• to an
sled ivlaM arms bereselMe; eml HIM sabeelellere !IM-
O% arm fa min ler eke gemi• le Meat la Melt of
fir, al saifa s.l aid rielmalm Ida le ray km* hops
Mies 'Weft ft Om Aided, will Meal Owl • s rem Mery
IsMI wpm Mk 'wary.
Se alemity • ter yammer to as tamesMals, bee Mem plemielm
fa eemeeimomy hake emit me to as, NM aftelegli the ma-
im lea vary melmiely mesa which I have eau Or has et vs-
whim your WY** yet lIM I hem wrest pleemee la miming
milli yea; Iket, dim my mini in this stai I have
bar. MIMI lb •••••••111.• penemlly with asst ion et the
Whim hkeenly elm at Mom be la Nal* lAN
viral Met ammeMemime mew ler/sMys• Ma mar-
MYblidmit of ea Mame mem Ibe put weed" the people
amelly, UzdiVtbe isemmec maid
see bat maim M • oar reigeethe Mats_ ;
Mt I mere mart Mae seal will Map beriselved
by me Mk esimme to myself It meshy
motel awl meeshis meek jamMA the mee sat.
seimee milk Iwe &eke yew sac mocipseells•
TM Wowing annsumunot
sigma in S. imam
Proms:

Altar the depelmtlia et tb=bed MUM Ikea the argon the
=lds le the enemblel Nehmen •
Zes=d eqnenlnt et thele Issiehlpst gem et Or
fawns, vidi vlialle aellnew resolved the Ilunlail. end den
he ihe rela• ply, wanthelleg es It did • strong dein le miedine 6e
et Mgt&
Male aine adepts. • rienWm a the gad lint It wee
Mir 14 dm tag seneh it 'sift sat et wig
et the her—venri at awe or
set dh dllle=the
war =416 endleney led thsen le ape be
winded to the use eliwily alleildsiteed
villas Intel" ties aa= et go plan essemprlel by
one 016 dew inns the reepethe gl==tetelt the
bet et Os Seam soll there pm far the et thcee
ehnesitk whatever Very ulgtgles, that prevented the estendea ot
the prenhied tenet..

ROYAL AORICULTYLIAL ROCIITY OP laeLstro.—At the
last anti g 9 of tido body, to consider the proposition of the
Bea of C the following report was adopted, and
allard to be lermiltael to la *saliency :
• - - - - -

That Ow emit ilebeedsr eqemeethelr warts Soh to big Kral.
leasy the lesiLentionnt fee. the Merest wlieb. es vhno.pattoe
the eeeletr.he his Vies be thek geweeedlese, awl Oe anxiety no bee
&WM Mr ike Imeeseemet merleileee birdied end the general
endieretien et Me sesillten eflhe Nqh The tally concerting
with Idi mama/ k the *Men he hr espetwelel the opidisecy
gad waft SI aellimir eirientenret leihrnedien men the
smell him" sod loholf etampt duets Is hied pr-
een we fed It our duty le roped meet cordially te the Inet.
tiUtO ormilene7, mg UM • entecriptlon lid be forthwith

opened for airgag to dohs the mat of mirk Instructors, as
suggested in hie WIN to the Duke of Leineter.
That coinciding in die 'Mon espeemet by we learnt societies. teat
it is not impasse Ilmt Ineireelees &sold be emilmd to say par-
ticular perks et LONA IPS ingprdeldregaler Ad general
subscription donne Own • km; est et which obit smell Writ offer
to damp a perdue et die emirs et • 'Mow a Woman in any
ems le wb the care wain &odd amok/ in re
Lillhoweve, robbing a power at varying tbe or
wading down leetrealsee tree et charge to mettle ts in
peetienier and preeleg eirennottnesa It wield fliellmr, In their
wee be alike* ant IN togem amid be awn,' wath
ek! yeestbeal treats be dis es mippesleal to lord Tient
metre letter, end is referents es will hie Mores might be de-
livered; and that as far a panilienromedrald be previously taken,
Is gennexion with landed hurl seeletisa or poor-
h+ guardians, to mere • sod aeWee et imam end ethers
to hear the buten/41mgal ; or/1W be &NW mobs iiimeelt
acquainted, by persona beipeedee. Ida the eartionlor etresembenes
and tillage adapted to the loteSty eldeb be That Uda Mandl,
however, feel it their du to state mg emphatically, haring in their
consideration the edreemarnes of Ireland at the present
time, that a systematic and perriner err to make agricultural in-
stroctiost a part of the marry edeseiben the people, to teach the
small fanners of Ireland mist their owe resources am, and how louse
them, can alone new the (entry, and 01l dames in this country, front
the rule whin\ sow hill them. And with a view to promote en
important as sagest. recommend that agricultural schools,
with a Gann atteeloirsro, should he established in each count)
or union, to be mipperted in part by local movement, to which
properly selected ale trey the union workhouse might be permitted
to eaquthe ambits sea reword for good and industrious conduct, as
well Mothers lulu emit thenvelves of It. That it would fur-
ther be newt ragialle ad so egriculturiet should be appointed,
nagoelated posdbly with them esbools, in each county or union in
Ireland, w6hom badnere it shook be to explain the various melee of
carrying out agricu'turni impirementa, and to inetruct the farmer
practically on his own land. That we also consider it neeeseary to
sugemt that some immediate steps should be taken to protide
an industrial and agricultural education fir the young per-
: eons In our workhouses. We are persuaded that the coot of
providing efficiently such an education, however considerable it
might to in the gist instance, would in the cod be a measure of
real economy to the ndepayera ; and we have farther to remark, that
if it should be found advisable to remove mien young persons from the
workhouses and to form industrial schools for the children of several
anions combined together for the purpose, the measure would be at-
tended with the advantage of affording additional room in the week-
house, and thus supplying the mean. of applying more extensively
the workhouse test. That we are well aware that there are consider-
able difficulties in carrying out measures such a those we have mg.
grated for the consideration of his contrary, but we have ventured
to surant them, in the lien methadon that at the prnent crisis it is
essential for the adety and preservation of the land that extraordinary
merino anould be taken to mak, the edema and practice of agriculture
better known amongst call deem in this country.
OUTRAGES IN MATO.—An evening paper gives the fol.
lowing relation of a recent turbulent manifestation in this
county :
BALLINFOBV Ocr. 24.—teat night, a party of from two to three
hundred men irseembled oa the lends of Ballinderry, the property of
Mr. Nolan, within two miles of this town, and, having forced the
Isei;mns, who were at the moment on the lands, to ay, forthwith pro-
c. to carry off all the crops that were then on the property, and
wised under distress ior rent. A similar outrage, on the same night,
took place on the lands of Ciemffinnane, withialone mile of Birth-
ford, Is this county. This property belongs to the Rev. Mr.
Ingedge. After carrying off the crops, the party were pur-
sued by the bailiff - a man named Galaber —who came up with
the carter', in the town of theinford. Here a smart action took place
between the bailiff and his party on the one ride, and the parties in-
terested in carryingoff the corn on the other. Twoof the latter were
wounded severely, being stabbed by Uaiither with a pitchfork, and are
now in custody in gwinford prison. Cialaher's eon WAS severely beaten.
On Friday neat there will he an investigation into the circumstance
et this riot. A stipendiary magistrate is to attend. It in greatly feared
that the spirit now spreading so rapidly throagb this unfortunate
county may produce dvastrous conaequenne.
I m ito rest ER re.—The Limerick Docks will be forth-
with commenced, as also a lighthouse en the Beeves hocks
in the Shannon.