The Express.
London, England, 1847-09-21 00:00:00

of the year—would prove, not merely to the mining
and manufacturing interests of the north, but to the
comfort and economy of thousands of household
hearths. The prospect brought the mercantile men
of Newcastle together, traders and mine-owners, with I
capitalists and bankers, the latter of whom are for-
bidden by bank law to help their brethren.
The hopes of all instantly turned towards the
Chancellor of tho Exchequer, requesting aid, sym-
pathy, and an interview. What was the reply of Sir
CHARLES Wool)? Such a box on the ear as the
following : " There is nobody who thinks that there
is any want of circulation, or extraordinary pressure
in the money market for horses of good credit." Oh,
Sir CUARLES!—and this in the face of theevents of last
week.

There is no business more likely to be elrried on
permanently on borrowed capital, or upon what is
styled credit, than that which is certain of return,
and irksome to manage. Such, possibly, is the busi-
ness the paralysis of which is threatened, and which,
in being put a stop to, stops at the same time the
thousand mills and furnaces of other trades and
manufactures dependent upon this great foundation
of motive power. One should think, if a minister
ought to be alive to any difficulty, to any exigency, it
is this. For here are the mouths of industrious
thousands threatened with hunger—thousands as

mach deserving of sympathy as thl Irish.
Sir CHARLES WOOD meets all these considerations
with the assurance, that there is no pressure for
houses of good credit. No wonder, if such an ex-
pression "created great astonishment" in the New-
castle meeting. Sir CUARLES was probably thinking of
great London firms, which, however great the difficul-
ties of the times, were still able to wear through them,
and command money at great temporary sacrifice.
But there is infinite difference between a bank getting
through a temporary crisis, and a mining company
arrested in its operations, which, however sure in their
nature, arc not such as can afford exorbitant interest
for borrowed capital. What the Newcastle companies,
or merchants, ask for is nothing new, nothing
strange, nothing adventurous. They merely require
their old annual, customary credit, which the local
bankers and capitalists have always given, and which
they would continue to give, did but the bank law
' allow them.

It is urged that there is a want of capital, the
national amount of the floating portion having been
absorbed in railway and other constructions. But
the Newcastle complainants never made use of any
other capital than credit, and there is no ground for
that being diminished or denied them.
Even supposing that credit should be limited
by the floating capital of a country, instead of
depending open its owu certainty of return—what a
preposterous law is that which encourages the abstrac-
tion of capital and credit from certain, and wonted,
and legitimate investment, and urges ifs being thrown
to aid, or to save, the venturous, and fool-hardy
speculator! The raising the rate of interest palpably
does this. It scrapes up the floating capital of the coun-
try, robs the industrious and regular manufacturer and
trader of its use, handing it over to the gambler and
to the trader in money, who can alone afford to-pay,
owing to the momentary nature of his transactions, a
high rate of interest. Igor let it be argued that the
law does not raise the rate of interest, and that the
state of the market does it. Does not the law enjoin
the Bank to raise tho rate of interest, and restrict
currency and accommodation—that is, produce the
state of things we hare been describing, for the
visionary, and, as far as internal trade is concerned,
the utterly irrelevant purpose of keeping a certain
quantity of gold in the country ?
The Chancellor of the Exchequer tells the New-
castle banker that he shall not accommodate the
miners with notes, the usual quantity having been
issued. The Chancellor of the Exchequer's journal
here joins in with a bit of consolation, telling the
banker to make loans or advances in gold. But the
full number of notes being employed by the railway
absorbent, and all the disposable gold having gone to
pay for corn, what is the Newcastle banker to do but
to open his month at the empty words with which
the Chancellor of the Exchequer and his organ
would fill it, and let the miners perish for want of
that credit which custom had sanctioned, but which
an absurd, pragmatical, theoretic, and irrational law
proscribes ?

AUSTRIA, it is sew, though recoiling from any
further aggression apes the Papal territories, persists
in marching an army into Tuscany and Lucca. To
this it feels itself entitled, by that right of consan-
guinity which the King of the French pleaded to
warrant his continued interference in Spain. Lord
PALMERSTON, it seems, has asked France to join
England in a protest at least, if not in a more signi-
ficant menace. _ _

It is quite manifest that in the case of Franoe re-
fusing, or even insincerely accepting the proposal,
Austria will not confine its intervention to Tuscany,
but will find pretexts for extending the march of
troops to Rome, and even, if necessary, to Naples.
We fear much that M. Ovizor's reply will prove
the counterpart of the reply made by our Foreign.
office to his former proposal for a joint protest
on the subject of Cracow. France and Eng-
land will thus make separate protests in favour of
Florence and of Rome, with the same emphasis and
success with which they protested against the en-
slavement of Cracow. The King of PausstA is
known to have expressed himself as averse to the
re-subjugation of the Pope to the old retrograde yoke.
But with England and Fence shrinking to come far- I
ward, Prussia cannot be expected to bravo the choler
of the Eastern powers.
The moment therefore is one on which the fate of
Italy hangs on the breath of Louts PHILIPPE. Let
but ono defiant word drop from the French king,
and Austria durst not send forth an army, with the
Piedmontese upon its flank, and the English and
French fleets ready to occupy any point, whose
inhabitants and sovereign might choose to make a
stand.

That word, we fear, will not be spoken. The de-
cided opposition of Austria to French policy, to the
future French dynasty in Spain is something too
serious and too vital for the Tuileries to provoke.
They will not quarrel with Austria. But still, M.
Gutzon and the King will no doubt exert themselves
to induce Austria to save appearances, and refrain from
outraging either the independence of the Pope, or the
liberal feelings of the French, for such conduct would
inevitably upset M. Guizor at the first meeting of
the Chambers, and produce for its immediate result a
THIERS administration.

The only hope, the only mode of rescuing the cause
of Italian freedom and independence from these
manmuvres of the open foe and the false friend, would
be its assuming a formidable attitude of defence,
under a liberal native prince. Such open defiance,
gallantly maintained, would soon bring the French
nation, its public opinion, and all the consequences
of such opinion, to its aid, and in such an over-
whelming tide, that not all the dynasty of ORLEANS,
all the cabinet of Clutzgr, nor the Aulic Council of
Vienna could arrest.

MADRID, BErT. 14.

Yesterday, all Madrid read with feelings of deep
indignation and disgust an article in the Courrier
Francaie, grossly insulting the Queen of Spain. To-
day the Gazette has embodied the national feeling in
a circular which bars the French paper from entering
this realm. I shall give you the decree in its own
words :

The French periodical entitled Le Courrier Francais has
dared in its number 250 to speak of the Queen our mistress,
Donna Isabel 11.. in terms 'abase and calumnious as unworthy
of the civilised nation among whom that paper is written.
The government of her Majesty, resolved not to consent that
the Spanish throne, or the august person who, by the good
fortune of the nation, occupies it, should be insulted with
impunity either by natives or foreigners, has determined,
among other measures which the importance of the case de-
mands, that the introduction and circulation of the Courrier
Francais in Spain should be proh i bited.— Esoosura, Sept. 12.
The other measures alluded to are, I understand, a
forcaal application to the French government for re-
paration for this gross outrage.
For some time past the Parisian press has been
handling the name of Isabel 11. with increasing dis-
respect and indecency. But the fall of Narvaez has
urged some of their organs beyond all bounds of dis-
cretion, and they give full vent to their mortification
in manfully assailing the royal person.
A provincial scandal has roused the wrath of the
liberals of the capital. Juan Perales, political chief
of the province of Astorga, entered the town of that
name on the 3rd, preceded by a squadron of cavalry,
and accompanied by strong patrols of the civic guard.
The people stared, and inquired the meaning of this
menacing and unusual show of force. Presently an
order was posted up for the inhabitants to deliver up

within six hours all their arms, and convoking the
ayuntamiento for the next day. Then the political
chief declared that his object was to nip in the bud a
Carlist conspiracy that he heard was brewing, and that
he counted upon the co-operation of a marugato that
was coming from Madrid to conspire in another sense;
but that for his part he should make no scruple of
shooting a Cortes deputy, if he detected him is en-
couraging such plots.
These words were understood to be aimed at the
highly respectahle progresista Sig. Cordero, and occa-
sioned great offence. Sig. Cordero upon receiving an
account of the matter instantly presented himself
before the Home Minister, Sig. Escosura, from whom
be demanded an annullation of the absurd and op-
pressive order, and an ample apology for the insult.
Sig. Escosura in the presence of two friends of
Cordero promised both.

FRANCE—FRENCH MsasnALs.—The death of
Marshal Oudinot has reduced to two survivors the number
of 26 marshals of the empire created by Napoleon. They
are, Marshal Soult, Due de Da!antic, promoted to that rank
in 1804; end Marshal Marmont, Due de Rogow, promoted
in 1809, and who lost his rank in 1830, for refusing to take
his oath of allegiance to the dynasty of July. The twenty-
four marshals deceased are : Bernadotte, Prince of Ponte-
cora° (King of Sweden); Murat, King of Naples; Berthier,
Prince of Neufchatel and Wagram ; Massena, Duke of
Rile.* Prince of &aline; Key, Prince of Moscowa, Duke
of Elchingen ; Lonnes, Duke of Montebello; Mortier, Duke
of Trerise ; Lefebvre, Duke of Dantaie ; Kellerreann, Duke
af Valrny ; Jourdan ; Serrurier ; Perignon ; Brune; Bee-
sieves, Voice of Istria ; Davoust, Prince of Eekmeibl and of
Auerstadt ; Augereau, Duke of Castiglione Dloncey, Duke
of Conegliano ; Oudinot, Duke of Reggio; Macdonald,
Duke of Tarentum ; Victor, Dukeof Dellune; Suchet, Duke
of Albufera ; Gouvion-Saint-Cyr ; Prince Poniutowski ;
and Grouchy.
ANTI-SLAVERY SOCIETY IN FRANCE.—The French
Society for the Abolition of Slavery has just forwarded to all
the sours royales of the kingdom a collection of all the law.,
ordinances, debates of the chambers, ex iminationa of acts
emanating from the colonial authorities, as well as the de.
trees rendered by the Cour de Causation and the metropoli-
tan courts, in questions relative to the liberty of slaves. The
object of the society is to enable the courts to farm a more
correct opinion of the manners and usages of the inhabitants
of the colonies than they can obtain from a mere examination
of the papers connected with any particular case which may
be submitted to their decision.
MARSHAL OCDINOT.—The late Marshal Oudinot,
Duke de Reggio, bad received 44 wounds in different actions.
Ile has left behind him very interesting military memoim,
which are to be published by his son, General Oudinot.
TILE BONAPARTE FAMlLY.—Workmen have been
for some days employed in preparing tombs in the church of
St. Leo, Taverny (Seine-et-Oiso), foe the remains of Louis
Bonaparte, ex-King of Holland, and his son, who died in
Italy. In this church is deposited the body of Charles
Bonaparte, the father of the imperial family. The funeral
will, it is said, be conducted with great pomp, but the day
is not fixed ' • and when the remains, now on their way,
arrive at St. Lela, public notice will be given of the day of
their final interment. . .

COMMERCE OF FRANCE.—The official returns of
the commerce of France for 1346 elicit the following obser-
vations from La Penn :
The ensemble of the exchanges of France with her colo-
nies and the foreign powers, amounted in 1346 to
2,437,000,000 francs; viz., 1,257,000,000 f. for importation,
1,180,000,000 f. for cap artation. If we take a glance at the
last 15 years and divide them into three quinquennial
periods, it will be seen that our general commerce has always
seen on the increase during those three periods ; but that
the progress of our exportations abroad has not followed with
an equal advance the increase of the foreign importations
into France. During the first quinquennial period, from 1832
to 1836, our exportations exceed by 239,000,000 f. the amount
of our importations. In the following periods the propor-
tion changes, and turns more and more in an opposite sense.
In the amend period our exportations fall by 71,000,000 f.
below the importations. In the third period the fall is still
heavier—•our exportations being 573,000,000 f. inferior to
the amount of goods coming in. This result cannot be attri-
buted to errors arising from the mode of valuing the products
exchanged. The custom-house, in (act, values those pro•
ducts, both in entering and leaving the country, according
to a scale of official values which has remained unchanged
since 1326. Ever since that period, the merchandise sent
from abroad to Franee, as well as that leaving France for
foreign countries, have been estimated on the same bases.
It is consequently the movement of exchanges which has
been modified. In the 2,437,000,000 f of articles exchanged
between France and the different countries of the globe, 72
per cent. or 1,755,000,000 f. wore conveyed by ses. What
was the part of our, flag in those conveyances ? At the first
glance, we find 828,000,000 f. for the national, 926,000,000 f.
for foreign ones. Thus, even in that case, we should
not convey half the products exchanged on our coast.
That already would not be very brilliant, for if we
caamtne the returns of the maritime movement in England
and the United States, we see that these two powers keep for
themselves the greater part of the transports which are et
fceted between their porta and fsreign ones. But how far
we arc from possessing even that modest part! To arrive
at the figure of 828,000,000 f., it has been necessary to
count the mass of transports effected in the domain of what
is called the reserved navigation, such as colonies, fishery,
&c. Now, as foreign competition is prohibited by our laws
in this domain, as we reign there alone and without divi-
sion, it is very evident that to have a correct idea of the onc-
e' ss obtained by our flag in its struggle with foreign ones,
that element of comparison must be struck out. That
' makes 2115,000,000 f. to cut off, and there then remain only
543,000,000 f. of transports to oppose to the 920,000,000 t
which form the share of the foreign flag. The countries
with which our relations are the most active are as follow;
they are numbered in the order of their importance (let us
observe that we are here referring to the importations and
exportations united, or what is termed general commerce) :
—.l. United States; 2. England; 3. Switzerland ; 4 Sardi-
nian States; 5. Belgium; b. German Association; 7. Spain;
8. Algeria; 9. Russia. For the special eommetee this order
is somewhat modified. The United States and England
still retain the first rank; but Switzerland descends from
No. 3to No. 8; the Sardinian States ascend to No. 3, and
Belgium takes No. 4. Do our readers desire to know the
order is which the countries that send us the greatest quan-
tity of products are ranged ? We now only speak of special
commerce: United States, 141,000,000 f. ; Sardinian States,
107,000,000 f. ; Belgium, 101,000,000 f. ; England, 79,000,000 f.;
Russia, 53,000,000 f. ; German Association, 47,000,000 f. ;
Turkey, 33,000,0001. ; Spain, 36,000,000 f. ; Switzerland,
29,000,000 f. The order in importance of the countries to
which we send the greater part of our products is as follows :
England, 113,000,000 f. ; United States, 100.000,000 f. ; Algeria
(French colony), 94,000,000 f.; Spain, 73,000,000 f.; German
Association, 62,000,000 f.; Sardinian States, 49,000,000 f. ;
Belgian, 48,000,000 f. ; Switzerland, 47,000,000 f. ; Martinique
(French colony), 22,000,000 f. Let us remark, first, that our
Antilles are, with respect to their extent, one of our best
markets. Martinique and Guadeloupe received for their
part, in 1846, 42,000,000 f. of products from the home
country. Should not this consideration, even in the absence
of every other, suffice to impose on us great attention to all
that concerns their future prospects ? Algeria, as a market,
occupies also an important position. She is worth almost as
much to us in that respect as the United States. But what
causes Algeria to be so great a market to us is that we our-
selves convey to it consumers who purchase our products—
an army of 100,000 men ; and let us remark, moreover, that
it Is with the money we send there—upwards of 100,000,000 f.
per annum—that these products are purchased. There is
therefore a great deal to be deducted from the real value of
this market. Let us state that, until the last few years, the
Custom-house permitted free-trade in Algeria. Foreign mer-
chandise was admitted on almost the same footing as our
own. What happened ? Our own goods did not sell. It
was the English especially who supplied Algeria. We had
the charges—they had the profits! This kind of division
suited them, and aided them to support with resignation an
occupation which their diplomacy has never fully reoagnised.
But at length it wax perceived that we played the part of
dupes ; and it was desired that Algeria, French by what it
cost us, should also he French by what it bought from us.
The tariffs were modified, and it is in consequence of this
reform that we must now count Algeria as one of the best
customers of our home market.

AUSTRIA.—VIENNA, SEPT. 11.—It appears, from
a correspondence in the Frankfort Journal, that the inter-
view between the Emperor and the papal nuncio, was for the
purpose of the latter delivering a letter from the Pope. The
Emperor came specially from Scheinbrunn for the purpose
of receiving tie nuncio. The Chevalier di Caminizano,
attachi of the Sardinian embassy, had arrived in the Aus-
trian capital from Turin, bearing important despatches
from King Charles Albert. An important reform has com-
menced in the Lombardo-Venetian kingdom ; this is nothing
Jew than the establishment of a chancellorship of state, to
which Count Figuelmont has been named president ad
interim.

DUCHY OF BADEN.—MANNnETM, Sept.. 15.
--The extensive iron-works situated in the park of Mess-
kirch, and belonging to the Prince of Furstenberg,e
have just
been destroyed by a violent conflagration. The damage
caused by this fatal catastrophe is valued at several millions,
very small part of the property being insured. The buildings
which have been destroyed are estimated at upwards of
150,000 florins (16,0001). About nine hundred workmen
were employed in the foundry of the Prince of Furstenberg,
and are now, with their families, destitute of the means of
existence.

TURKEY.—CoNsTANTINoPLE, SEPT. 1. The
Porte, says the Frankfort Journal, has ordered Orisiotti to
be transported from Chi° to Browse; Orivas has been
ordered to go to Janina or Adrianople, or to quit the
Turkish territory.
GREECE.—ATTIENS, SEPT. 6.—Letters in the
Augsburg Gwette give an account of the severe illness of
the prime minister, Coletti. The illness had already lasted
a week, without any symptoms of amelioration. It was
also stated that a second English fleet was about to arrive in
the Pineus.

Fiegard, arrived at Ports-
mouth, hu brought dates from Itto Janeiro down to Aug. 1.
There is no news. Exchange was at 271 d. Freights had
declined to 31. The Fisgard has brought 1,000,000 dots.
from round the Horn.

COMMENCEMENT OF THE JEWHiII YEAR.—This,
the 21st of Sept., is the first day of the year 6608 of
the Jewish Era. Yesterday, being the last day of their old
year, was kept as a strict holiday by the Jewish people, who
closed their shops sad suspended all business till alter sunset!