The Express.
London, England, 1847-11-06 00:00:00

' wages. The relief administered in 1826 in one
pound notes amounted to a positive increase of the
most useful portion of the circulating medium, and
had no tendency to check the return of gold, which
was rapid in proportion to the vigour thus instilled
into our manufacturing districts. But, if the present
stagnation in those districts now continues, which the
want of confidence, maintained by undecided and
alarm-creating legislation, keeps up, what is to bring
the gold back to us ?
How does England get her gold ? What re-
sources has she that other countries are desir-
ous to possess, and for which they have hitherto
always rent us gold more than we wanted?
Agricultural produce we have none to offer.
Colonial produce comes in quantities that do not
suffice for the home demand. Does not every
one know that it is only our manufacturing
superiority that draws orders to our markets? and
superiority in these days of technical and chemical
knowledge means cheapness. Now whoever hit upon
' the mode of relief by doling out discount at 8 per
cent. as a minimum, clearly either renounced the
notion of bringing back gold by the sale of manu-
factured goods, or was very much misinformed as
to the means which the foreign consumer now com-
mands for supplying his wants. There is
not a manufacturing district in Europe, and
of these islands, where the minimum rate of discount
is 8 per cent. There is consequently no foreign ma-
nufacturing district that is not able to undersell us.
We have, besides, the consolation of reflecting, that
although our panic has spread a portion of distress over
some parts of the continent, yet our wiser and more
cautious neighbours have not experienced so severe a
shock to credit, and are consequently not so much
discouraged as we are.
The responsibility which ministers have hitherto
volunteered has been of a nature, that stakes the best
interests of the country not upon the fortune of a die,
but upon cards which the player has shown he does
not understand. Sir It. PEEL undertook to play this
game from 1819 to 1844. He will find the patience
of his backers, the people of England, somewhat ex-
hausted.

The following appeared in a portion of our last
evening's edition.
The Paris journals of Thursday have arrived, with
the despatches of our correspondent. The affairs of
Switzerland continue to be the prevailing topic in
I all circles. The Journal des Djbate, as usual, gives
an article in fav3nr of the Sonderbund, and vehe-
mently abusive of the recognised and legitimate go-
vernment of that country and of its legislature.
It is a remarkable fact that the money market in
Paris, which, as a general rule, fluctuates with that
of London, is quite insensible to any sympathetic
movement during the present panic. On Wednesday
the prices were firm, having been recently steadily
rising. On Thursday the Threes closed 30c. in
advance of their price the preceding day. Within a
few weeks the sound clue of shares have experienced
a considerable rise, which was sustained throughout
the whole course of our panic. Thus, Northern
shares, which were nearly at par, have risen to 43f.
premium; a striking evidence of the merely local
character of the causes which now depress the com-
merce of England.
The Bank is about, as we stated would be the case,
to take one-tenth of the approaching loan. The
Dtlbals has the following on this subject:
It appears very positive that the Council of the Bank has
determined to take 25,000,000 fr. of the new loan. The Bank
has sold its rentes when it has had need to do it ; it pur-
chases at present, because its disposable capital has acquired
proportions more than sufficient; and this is an operation
perfectly simple and legitimate. It is not only a good one
for the Bank, which is not assuredly the principal object
which it ought to propose to itself; but who does not see
that, under present circumstances, it is good for everybody ?
For the 'tat., first of all, which will have conditions so much
the better, from the persons interested in the loan being
more numerous and richer; for trade afterwards, to which
the loan adjudged under bad conditions would be much
more fatal than the maintenance of the discount at the pre-
sent rate during some months. We know not if the rumour
which attributes to tho Caine des Di its the project to
take also an inter at in the loan be as well founded as
that which concern, the Beak. But we avow that the
objections which are made to this project seem to us even leas
founded than those which are made against the resolution of
the Bank.
The Duchess d'Aumalo left Paris on Wednesday,
en nude for Algiers. Her royal highness was accom-
panied,u far as Orleans, by the Queens of the French
and the Belgians, and the Princess de Joincille.

Letters from various parts of Switzerland have been
received. By that of our own correspondent it would
appear that the troops of the Valais, prevented from
marching to the aid of Fribarg, had arrived at
Lucerne, to reinforce the troops of that canton. Advices
from Neufchatel, dated 1 et inst., announce that the coun-
cil of state of that canton has submitted to the resolution
of the Diet which places the cantonal contingents
under the command of General Dufour, bat it has
resolved that they shall not be employed against the
Sonderbund without the formal authorisation of the
cantonal legislature. Letters from Bile, dated Tues-
day last, say that on that day it was expected that
the Diet would finally resolve on measures of execu-
tion against the Sonderbund. It was expected that
Friburg would be the first point of attack.
Advices from Berne, of the Ist inst., say, that an
encounter had occurred between the troops of Valais
and Vaud, near St. Maurice. The former, consisting
of about 2,000 men, issued from Sion to St. Maurice,
had attempted to pass the bridge at the latter
place, but had been repulsed by the Vaudois.
It is certain that in the district of Aigle,
there were four battalions of infantry, two
companies of carbineers, two companies of
artillery, and about 1,000 volunteers. Four additional
battalions had marched for the same place.
A letter from Berne of the 31st ult. says:—" We
have this moment learnt that the government of
Appeuzell (Inner Rhodes) has come to the same reso-
lution as Nenfchitel, and refuses to place its con-
tingent at the disposal of the twelve, and threatens to
make an appeal to the Landsgemeinde if any new
requisitionis made. The determination of Bile Town
is not yet known."

The extensive system ofcivil and administrative reform
promulgated by the Kingof Sardinia,hae becomea sub-
ject of general congratulation on the other side of the
Alps. It is justly regarded as a real revolution in the
public law of Piedmont, criminal, civil, and adminis-
trative, and acquires tenfold value and importance, in-
asmuch as it has descended from the throne, instead of
being the result of an emeute.
The popular disturbance which broke out at Flo-
rence on the 25th ult. was:continued till the 27th,when
tranquillity was restored, without any intervention on
the part of the armed force. A proclamation issued
by the gonfalonieri of the city had an excellent effect.
As usual, this movement has been exaggerated by
the French ministerial journals, which omit no occa-
sion to give utterance to invectives against every
thing which indicates interference on the part of
the people with the measured of government.
Letters from Rome of the 28th mention the retire-
ment of M. Morandi, governor of Rome, who is sac,-
ceeded by M. Seven'. Cardinal Prince Alfieri is
named president of Rome and Carmarca ; that is,
political chief of the city and province ; and, at the
same time, president of the =mid* council.
Cardinal Antonelli has been appointed president,
and M. Rasconi vice-president, of the council
of state. The report was again current of the retire-
ment of Cardinal Ferretti, who would, it was said, be
succeeded by Cardinal Amid, the present legate of
Bologna.
The news from Ferrara was disquieting. Instead
of showing any intention of evacuating that city, the
Austrians were making preparations for its permanent
occupation. An engineer had been sent there to
superintend the works necessary for the enlarge-
ment of the barrack. appropriated to the imperial
troops. A vast quantity of military stores and equip-
ments bad been ordered to be sent there from Venice.

The Patria of Florence has the following from
Fivizzano, dated Oct. 26 :

The whole of the civic guard are in motion ; every gate is
guarded every house provided. An occurrence of yesterday
proves that courage and resolution are equal to the prepara-
tions. A rumour spread that the troop. of Modena were
near, upon which the whole population rose ; drums beat,
and the tocsin was sounded. The civic guard was reinforced
by private individuals; every species of arms was had re-
course to ; the powder-magazine was opened ; thousands of
cartridges were distributed. The whole people, transformed
into au army, marched out of the town, and occupied the
best points to repulse the invaders; but the rumour was
false—no enemy appeared. The Fivizzenele left videttes at
the advanced poste and returned to the town in good order,
determined to defend it.

The same journal adds, that a body of Modenese
troops, having obtained permission of the Tuscan
government to cross the frontier on their way to
Massa, did military honours to a body of civic guard
from Fivizzano, whom they met on their way.