The Express.
London, England, 1862-04-30 00:00:00

EXPRESS,

Courts will not sit, and the Stock Exchange will
be deserted. There is, however, • distinguished
exception to this general emancipation. Whoever
else takes holiday, the House of Commons, it seems,
must not omit for one night to ait and consult for
the good of the nation. The utmost that ham
been hitherto suggested is that it may meet •
couple of hours later than usual. We venture to
think th►t the House takes too stern • view
of its duties, and that it might for once re-
lax somewhat the severity of its toils. Time
presses ; but still it is not too late to secure • free
night on Thursday. Could not some genial lord
without overstraining a point, suggest a convenient
resemblance between an International Exhibition
and the Isthmian games t And will the Derby
holiday be so safe as it was if the House defers too
readily to ascetic principles and sits on the evening
of a great decennial festival ?

Ous readers will find in another column an
absixact of Mr. Foerea and Lord Botany's Re-
port on the financial condition of Turkey. The 1
large extent to which British interests have be-
come involved in the prosperity of Turkey by the ,
participation of the general public in suocemive
loans, gives this document an importance which
seldom attaches to reports on the finances of
foreign countries. Hitherto only extracts from
the Report have been published in England, and
we call attention to its issue in a complete form in
order that all concerned may have the means of
judging of it for themselves.
The Turkish Government afforded to Mr.
Four= and Lord HOBART during their residence at
Constantinople last year full information on all
points connected with the subject of their inquiry ;
their very able Report contains the first reliable
statements which have been made public respecting
the finances of Turkey, and is remarkable for the
lucid manner in which it is drawn up, as well as
for the simplicity of its suggestions.
The Turkish year 1275, corresponding to 1859-
60, is the latest year for which Mr. Foals and
Lord Hosaar were able to obtain details of the

revenue yielded by the different taxes, and of the
sums spent under the different heads of expendi-
ture ; and their calculations are accordingly based
on the returns for that year. The estimated de-
ficit for the present financial year 1861-62, is
about 2,920,0001. ; of which sum 1,700,0001.
may be represented as the actual excess of expen-
diture over revenue, and 1,220,0001. represents
losses arising from the disordered state of
the finances. It is proposed that an additional
revenue of 2,200,0001. should be raised, and that
the special charges should be liquidated gradually ;
sea the following means are suggested as those by
which this extra revenue could be raised easily
and without burdening the resources of the
country. Ist. That the strange anomaly by which
Constantinople and its environs are exempted
from direct taxation should cease. 2ndly. That
the tithe of Anatolia should be collected in the
improved manner adopted in Roumelia. 3rdly.
That a tax should be imposed on male servants ;
and, 4thly. That the stamp and tobacco duties
should be increased. By these simple means it is
conclusively shown that the additional revenue
required can be raised without difficulty.
We understand that this plan is likely to be
adopted, and we hope that the further suggestions
contained in the Report, for placing the whole sys-
tem of Turkish finance on • thoroughly sound
footing, will receive from the Porte the atten-
tion which they deserve.

TIM finances of Raeshi are in a state of COll-
- as dire as are those of Austria or Turkey,
but there is besides a suspicious peculiarity
about them. The Emperor Nicholas, to meet
the enormous expenses of the Crimean war,
extended the issue of paper money, the
only circulating medium of his empire, from a
normal state of 35 or 40 millions sterling to 110
millions. And of this latter sum 95 millions are
still afloat. Hence, though equal to silver by law,
the paper rouble is now at a discount of 17 or 18
per cent. The ministers of the late Czar found it
very convenient thus to raise a forced loan bearing
no interest, but the men now in office are beginning
to perceive that as the difference between paper
and silver is increasing, so also is the price of pro-
visions and everything else, which gives rise to
great and universal discontent. The only remedy
for this, the indispensable condition of the re-
storation of credit abroad, is a loan at
home, to diminish the circulating medium,
which is now so redundant that 2 per
cent. per annum is the interest allowed
by the Bank on deposits. This obviously prudent
measure does not seem, however, to please either
the borrower or those who should be the
lenders. The first, which is the government,
prefers a loan in Bank notes, carrying no interest,
to a loan in stock entitled to half-yearly divi- i
deeds; and the lenders, the Russian public, though
much afraid that the paper currency will ultimately
dwindle to 25 per cent, of its original worth, as
occurred once before in the reign of Alexander 1.,
prefer running that risk which every man for
himself Lopes to escape from, by remitting his
capital to England or France, where paper represents
gold. A loan of fifteen millions, or a loan of three
times that amount will, therefore, as long as the ;
paper currency of Russia remains in a plethoric
state, prove only a temporary expedient. But
the point which it is most important to ascer-
tain is why the Russian public, who now hold
a larger amount of paper money than they can pro-
fitably use in commerce, prefer converting it into
gold when they can find bills on London, or Paris,
or Berlin, to lending the same to the government at
4or 5 per cent, against stock. Without jumping
to a hasty conclusion, is it unnatural to argue from
the preceding notorious and almost official facts,
that the Bunion public, from whatever cause,
political or mural, war or revolution, is taking no
cheering view as to the future prospects of the
national credit ?
The Russian agricultural resources are no doubt
immense, but its industry, though progressive, is
still fettered by the narrowest protectionism, and
is far below that of the Zollverein. Some
wealthy bankers in Russia, Germany, France, and
Englaiel have within the last two or three years
wade large advances to the Russian government,
without any other security than the proceeds of a
future loan. It is by means of those advances that
the dividends on the foreign debt have been
hitherto paid. Those bankers naturally wish to
balance their accounts, and the Russian government

wish to provide resoure fur thu next half-yearly
interest. All this is on both sides very fair and very
legitimate, but all this should be known to the
public at large.

Yesterilny being the anniversary of the birthday
of his Majesty the Emperor of Russia, the Ambassador,
aeseaspassied by the members of the Russian Embassy sod
the pnaident of the imperial commission sent to the later.
animal Exhibition, and the gentlemen belonging to the
eennedealon, assembled at the Russian ehapel. Welbeek-
where Divine service was celebrated by the Rev. E.
sPZ. An eatertaioment was given at Chisholm Hewn
by the Ambassador in the analog. Clovers wen laid far
t thirty.

--A--
WINDSOR CAlll'l* And 29.
The Queen and Royal Family walked and drove
fa the grenade this morning.
Prises Alfred, attended by Major Cowell, left Windsor
ONO* this morning for Dover, to meet the Crown Prince of
heeds, who is expected today. The Crown Prime will
premed direct to Windex Castle, and remain there until
to-marrow, when his Royal Highness will leave for Buck-
Ingham Palace, and will be present on Thursday at the
opealner of the International Exhibition.
Prince. Alice, attended by Lady Caroline Barrington
and Cohost the Hon. A. Hood, went to Kew, and visited the
Duchess of Cambridge.
The Duchess of Athol' has mot:ceded the Countess of
Gainsbormigh as lAdy in Waiting to the Queen.
Lord de Tabley and the Hon. Mortimer Sackville Wed
have succeeded Lord Rivera and Colonel F. Seymour, se
Lord and Groom in Waiting.

A depuiation from the Metropolitan Association of Me-
dical Oaken of Health had an interview with Secretary Sir
George Orey yesterday, at the Home-office.
The Duke of Newcastle arrived in town on Monday from
his seat, Clamber Park, Notts.
The Privy Council-office and the Board of Trade will be
domed to-morrow (Thursday), the Ist of May, upon the oom-
Moe of the opening of the International Exhibition.
Despatches were received yesterday at the Colonial-office
from the Governors of the Weed India Islands and the
North American Provinces. Despatches w,_-e sent to the
Lord High Commissioner of the lonian Wanda.