The Express.
London, England, 1853-01-10 00:00:00

THE EXPRESS, MONDAY EVENING, JANUARY 10, 1853.

the Board of Control. We do not behove that espy one
*these, pliaistercbacaplebln of I.ll.fatflAtlrer
to.msdstett ten' theign
floor they owe
°this Hiesesoof Commonsis
words spokes on the hustings. They sreepted cheers
for those Weeds notoriously and undeniably because
they wets understood to have need them in their
plain and practical signification. The people do not
understand pledges given in a non-natural sense.
When they heat ministers say that thpy ate going
to bring in a comprehensive Reform BM, the people
do not underitand that the question is to be ad-
journed sine di.. An adjournment for six months is
so considered in the House of Commons justly and
naturally so, for who can tell what government will
be in power or what condition of things may exist
at the end of such a period.
What then are we to think of the suggestion to
shirk Electoral Reform not for six months but for
twelve? Yet this is the counsel openly proffered by
those who affect to speak the sentiments of the Con-
servative section of the Administration.

FRANCE.

PARIS, SATI7RIMT ETNNING.
Baron de Waechter, resident Minister of the King
of Wurtemberg, and M. de Wendland, Envoy Extra-
ordinary and Minister Plenipotentiary of the King d
Bavaria, have had audiences of the Emperor to pre-
sent their new letters of credence.
A letter from Constantinople of the 26th ult., states
that the packet which left on that day carried the
letters accrediting Vely Pacha in quality of Arnhem-
sador from Turkey to the Emperor.
The Monsteur contains the following article kit
the purpose of showing the friendly feelings ente
tained towards the French Emperor by the •
Wurtemberg ss evinced by the Stutgardt
declaring that it did not intend to charge the Frew*
Afondewr with wilful falsehood:
On receiving the news of the re-establishment of the
empire, the King of Wurtemberg sent Baron de Spitsers-
berg, his grand chamberlain, to the Duke de Quiche, mi-
nister plenipotentiary of his Imperial Majesty at Stut-
gardt, to isongratulate him on that great event. The Mo-
»Wear having made known this circumstance, so conform-
able to the bonds of friendship which unite the two
governments, the cabinet of iitutgardt thought it
its duty to remark in the official journal of Wet.
temburg, that " whatever might be the satisfied's
with which the King had received the declaratiews
of the Prince President on the occasion of his accession, it
was not the intention of his Majesty to proceed to the re- 1
eegnition of the new French Empire without previouslyl
sressulting the sovereigns his allies, and that the orden
even to General de Bpitsambergeould only be conforms.
ktiy to those intentions of his Majesty." This incident, ss
simple in itself, having been misrepresented by a Steiger&
jwarnal,and presented in an unfavourable light, the govern.
emit of the King of Wurtemberg seised this opportuoity
dgiving • fresh proof of the sentiments with
which it is animated towards the Emperor and
towards France by inserting in the official jour-
nal of the 2nd instant the following article :
The journal Brabochter (No. 306), in its Paris article dated
the 21st Deci ether, pretends, on the occasion of some re-
marks contained in the Wurtemberg Moniteur of the 15th
Desember ma the communications made to the Dake de
acidic by General de Spitzemberg, that the Wurtemberg
Meedker bee dissovered a fresh falsehood on the part of the
From& Acciago. It was only necessary to read with some
attenelen the Wurtemberg Monitow to be convinced that
is led no idea of accusing the French Moulton of falsehood.
The ealy object of the &arts Arseiger was evidently to fix
he the eyes of the public the bearing and the sense of what
had taken place end had been related in the official part of
the Moniteur, and thee top any false interpretation.
The feet eves which is related in the Muniteur is not re-
lated in the Wartemberg Monsieur; this latter has still
Les proteodat le gives it to be understood that the French
Nrodiew ialeotieaslly distorted the truth, and bad 'd-
eemed • ffilesheed. It is only the Bodknehter, and if it is
true In aiming the auras of its information, La Nation,
who can complain of rendering themselves guilty of such a
reproach towards the French government.
A letter from Camel, of the 4th, states that the
Elector, having no minister at Paris, has requested
the French minister at Camel to communicate to the
Emperor of the French the answer to the official
notification of his accession. In this answer the
Elector expresses his desire to see drawn still closer
the friendly relations between France and Electoral
Hem.
The Moniteur pays that the Sultan, on the demand
of the French, Ambassador, has permitted Abd-el-
Bader to visit Constantinople, and will allow him to
have an audience.
It is stated that the measure relative to the re-
establishment of the cadre of reserve, is to be applied
to the officers of the navy.
The taking of &mans by the French is again
denied denied by the government journals. The Pairse
um:
The American journals announce the taking pesseesion of
&ssaa by a French squadron. This account is mapietsly
him. The Sybills frigate, which bad gone for ••••••, is
order to recruit the health of her crew, and whamming.
at Hayti had given rise to the most exaggerated wisliewes,
has returned to Martinique. No French vessel of war boo
anchored in the Bay of Osman'.
M. Fortoul, the Minister of Public Worship and
Instruction went the day before yesterday to Anthem
to examine the repairs going on at the cathedral
there, and returned to Paris the same evening.
News has been received this evening of the death
of Madame Abbattucci, the wife of the Minister of
Justice, who expired on the Ist of January, at
Zicavo, in Corsica, in her 57th year.
The ball to be given to the Emperor by the senate
at the Luxembourg is definitively fixed for the 25th
instant.
After M. de Maur, prohibited the publication of
M. Prondhon'a projected review, he applied to M.
de Persigny to rise !w influence to obtain the removal
of the prohibition, promising at the same time not to
write against the imperial government. The Minis-
ter of the Interior inquired what, in that case, would
be the object of his periodical P " I intend," said M.
Proudhon, "first to demonstrate that catholicism
is dead." The minister here stopped him, aid sitE k
would be impossible to license -hie work. There is
yet a higher authority to appeal to, sup letters
by the post to reach their destination attheTscUeries
as readily as in M. Proudhon's experience they for-
merly did at the Elysee.
Apropos of M. Prondhon, a good deal of amuse-
ment has been excited in Paris by the report of a
bid at Besancon, in which the celebrated author of
"Le Propriete esti le vol" has been defeated in an
' attempt to establish a right of property in one of his
men literary. works.
M. Meunier de la Siseranne, a member of the
Carps Legislatif for the department of the Drome,
hes resigned his seat.
A passenger by the American packet Isaac Bell
lirsoormliibeiens arrested by the police at Have, and ft
number of Socialist pamphlets, found is
his ponsksion, were seized.
Is compliance with the request of the Chamber of
Commerce of Paris, the Emperor has made a decree
kw increasing the numbers of that body from fifteen
to twenty-one members.
"There has lately been a rumour here," says the
Gazette de Lyon, "of the purchase, by a high finan-
cial company, of the railways from Lyons to St.
Etienne, St. Etienne to the Loire, and Andrezienx
to Roanne. It is added that nothing is wanting to
the conclusion of this treaty but the ratification of the
general meeting of the shareholders and that of the
State."
A firm at Nantes has just ordered to be built four
steam-boats, of 100-horse power each, to run between
Nantes and Marseilles.
M. Magne, the Minister of Public Works, yester-
day gave an audience to a deputation of commercial
representatives, on the subject of the electric tele-
graph. The deputation consisted of Mr. R. E. Lee,
representing Messrs. Willmer and Smith, telegraphic
agents of London, Liverpool, and New York; and
Mr. J. B. Mitchell, representing the British and
North American Royal Mail Steam-ship Company
(Cunard's line). The minister listened very atten-
tively to the statements laid before him by the depu-
tation, but observed that the subject was more imme-
diately connected with the department of the Minis-
ter of the Interior, than with his own. Considering,
however, that the deputation had been introduced to
him by the British ambassador, Lord Cowley, M.
Magee politely undertook to present immediately to
the Emperor a memorial on the subject, which had
been drawn up by the deputation. The memorial
has for its object to procure a relaxation-of the exist-
ing restrictions on communications by electric tele-
graph, more especially those which prohibit the use
of abbreviations in the transmission of commercial
mepages, and those which entirely close the bureaux
against all business during the greater part of the
night.
- - -

The funeral obsequies of Count Honor 6 de &nay
were performed yesterday morning at the Church of
the Madeleine. The count had been but just ap-
pointed to a poet in the household of Prince Jerome

ifNezieotmhe Thya, Empeinoreseeentieone oef
shis carriages
carriage .g
I two of his aides-decamp. Among the rms. of dis-
tinction present is the church were the Dukes de
Cams and-de Valentinois, Counts Perignon and de
Montbrieson, Baron de Lacroese, Generals de Bicard,
It/gooalt de Saint-Jean-d'Aogely,. and Parchappe,
Colonel Prince de la Moskowa, Prance de Montlard,
Baron de Plug, the Marquis de Barbantane, Mar-
reetteaoissy, Marquis Agnado, and' X Thayer,
neral of the Post-ofilee.
The Debate alluding to the decree for modifying
the duties on iron and coal says :
The senditions of the tariff contained In the decree only
re-establish for Belgian coal and iron the regime which
had been momentarily aggravated by the decree of the 14th
of September. The present decree is a return to the
system of reciprocity which had from 1845 regulated our
commercial relations with Belgium. Let us hope that
the two governments will not stop there. and that still more
liberal conventions will be established between two nations
so well constituted for the exchange of their mutual pro-
ducts. The coal imported by the frontier use now forms
nearly the four-fifths of our general importation. In 1851
there were 19,471,000 kilogrammes, against 5,248,000 kilo-
grammes imported by sea. The proportion was rather lees
for iron; there were about 20,000 tons by lead, against
12,000 to 13,000 tons imported by sea.
At the Bourse, to-day, business was done in the
Three per Cents. at 80f. 70c., and closed for the ac-
count at 80f. 80c. • Four per Cents., 99f. 25c. ; Four-
, and-a-Half per Cents., 105 f. 60c.; for account, 105 f.
70c. Bank Shares, 2,845. In railway shares : St.
Germain, 1,375 f.; Orleans, New, 1,020 f. ; Versailles
(left bank), 350 f.; Paris and Rouen, 995 L ; Strasburg
' and Bale, 3430 f. ; Northern, 865 f. ' • Paris and Sires-
' burg, 875 f. 59c. ; Paris and Lyons, 905 f.; Lyons and
Mediterranean, 752 f. 50c. ; Western, 736 f.; Caen and
Cherbourg, 632 f. 50c.; Southern, 600 f.• Dijon and
Besancon, 540 f. ; Dieppe and Fecamp, 335 ; Rouen
and Havre, 517 f. 500. ; Paris and Soeanz, 150 f. ; Cen-
E tral of Switzerland, 520 f.

PARIS, SuNDLY EVENING.
The Moniteur contains a decree directing that the
elections for the eight vacant seats in the Corps Le-
gislatif shall take place on the 30th of January.
These vacancies are for the Basses Alpes, in the
room of M. Fortoul, appointed to functions incom-
patible with those of a deputy ; for the Cotes du Nord,
in the room of M. Bigrel, also appointed to incom-
patible functions for the Eure end Loire, in the place
of the Marquis d'Argent, deceased ; for the Gard, in
the place of the Marquis de Colviere, resigned ; for
the Ills et Vilaine, in the place of M. A. de Iterderel,
resigned ; for Mayence, in the place of General Du-
vivier, deceased; for the Oise, in the place of the
Duke de Mouchy, crested a senator ; and for the Bas
'thin, in the place of M. Becquet, appointed to in-
compatible functions.
M. Monnier de Siseranne has written to the D4lxsts

to contradict the report that he has resigned his seat.
He did his utmost to oppose the alteration in the
°Destitution, according to which the deputies are to
be paid, but he does not think it his duty to resign
in consequence.
The Moniteur notices that M. Rimelef, who was
bat a privy councillor, charged with the direction of
the Russian embassy in Paris, was appointed envoy
extraordinary and minister plenipotentiary, on the
occasion of presenting his credentials, and that Baron
de Schweizer, who was resident minister of the
Grand Duke of Baden, was also promoted to the dig-
nity of envoy extraordinary and minister plenipoten-
tiary.
The confirmed downward tendency of the Bourse
is the source of great uneasiness at the Tuileries.
The proclamation of the Empire itself was saluted
by a fall, and since that event every occurrence cal-
culated upon as certain to lead to a great rise, has
invariably failed to produce the clerked effect. The
government journals are now at their wits' end for
arguments to write up the funds, and for excuses to
account for their going down. They recapitulate
the blessings of a strong government, paint in
appalling colours the bottomless pit of anarchy from
which France was so happily snatched by the coup
d'etat, talk of docks, harbours, railroads, new streets,
and all the various sources of extraordinary ex-
penditure which it is now the fashion to hold
up as evidence of present wealth, but all
in vain. They cannot scold the capitalist into
confidence, nor persude the watchful speculator that
the tide of reaction, after the unhealthy and artificial
rise of last year, has not steadily set in. Yesterday
indeed, for the first time during the week, there was
a considerable rise in the " Recites." The Three per
Cents. rose 90c., and the Four-and-a-Half 60c., but
this was not owing to the logic of the Journal de
I' Empire, but to the exhibition of a placard stating
that, from the 10th to the 15th of January, the (Jaime
des Depots and Consignations would buy 300,000 fr.
Three per Cents. daily. The fillip givea by this
announcement produced a sudden roe, the " Bears"
got frightened, everybody gave orders to buy, and
one of those " runs" took place which will con-
stantly occur in a speculative market, without refer-
ence to its normal tendency. This, however, is pretty
conclusively shown by the fact that from Nov. 8,
1852, the day on which the ascensional movement
reached its culminating point to the 7th of January,
1853, the Three per Cents. fell 8 per cent. There
were, of course, daily fluctuations, the government
prints triumphed in every rise, and ingeniously ex-
plained every fall as proceeding from temporary
calms, but every half-monthly settlement closed
lower than the last, and in the result nearly half the
amount of that rise of the first ten months of the
year 1852, upon which the government so greatly
plumed itself, has melted away. The Pays
now says that the fall is attributable to the
wide spread mania for speculation. This
is true, but not in the sense which the Pays
means. The fall is the natural consequence of the
fictitious rise. But a few months since the whole
resources of the state were applied to generate the
wild spirit of speculation now complained oL Hire-
ling writers ewe employed to exaggerate the na-
tional resources, to distort the acts of former govern-
ments, and to promise universal prosperity in return
for support to the new political system. At the same
time, every independent voice was silenced. Fine,
imprisonment, confiscation, banishment, awaited any
journalist who should dare to expose the fallacy of
these brilliant anticipations. The extraordinary suc-
cess of the coup d'etat encouraged people to
back the luck of the fortunate gambler who
had played so bold a game. It was soon
perceived that he was determined by all and every
means to screw up the funds, and it was believed
that he would succeed. It became known that mi-
nisters, their clerks, their friends and dependents,
played at the Bourse, and the example was speedily
followed. Thousands who had nothing last spring
found themselves rich men in the summer, by the
simple operation of making fictitious purchases of
" rented " and railway shares. As the reports of
the fabulous sums gained spread abroad, the
mania became general. Everybody gambled and
everybody won. The Pays then said nothing about
undue speculation, but wrote articles to prove that the
funds were by no means high enough, and that they
ought at least to attain quotations of Louis Philippes
time. So things went on till the beginning of No-
vember, when the corporation of stock brokers began
to think that the day of reckoning was draw-
ing nigh, and that, however pleasant it might
be to do an immense amount of business,
it was time to ascertain how many of their clients
were solvent. They enforced, or least threatened to
enforce, a standing rule that they would do no busi-
nese in railway shares for "the account" without a
deposit of 150 h.. per share. This bare announcement
sufficed to scare away the herds of "stags" that
thronged the temple of fortune in the Rue Vivienne,
and from that hour the fall set in which has
ever since continued. Speculation, and des-
perate speculation too, still goes on, but it is
conducted for the most part by men who have, at
least, something to lose. Had the original rise been
a legitimate one there would be every reason why
public securities should be higher now than in No-
vember. The government, which was then in em-
bryo, is now matured, it has been established with a
singular absence of any untoward accidents, it is re-
cognised by all the powers of Europe, the consti-
tution is settled, the working classes are fully
employed, commerce is fairly prosperous, and the
revenue returns are favourable. But the prestige of
the Emperor's power to raise the funds is at an end,
the gamblers who yet haunt the Bourse have turned
about, and expect to win by following the fall, 88
they formerly followed the rise. Capitalists know that
the former high prices were forced and unnatural, and
seeing that the current of the public mind has changed,
they have not sufficient confidence to support the
market. The excitement with which the magic
process of rearing the present political fabric was
watched is wearing away ; the time for sober reali-