The Express.
London, England, 1848-11-06 00:00:00

isitiplied, would be. inacieqpate •to describe
I
Atthirgt in Which the conatty Voter, ars wrapped
lbe very fame suggests a Wier** metres'
what is. ]understood by the voice of this
eoon-
academical country esters are the veritable
pepani—the simple villagers who ,lung so long to
~slr old faith, end were so unwilling to open their
epee^ new light, that their name has become the
zn:abudeeiguation of all worshippers of exploded
divinities.
Local university bigotry is of an essentially active
nature: it sets men moving in alt directions, and sa-
vories of even in its wildest attempts to
retrograde. Liberals may dislike particular manifes-
tations of it; but ;they have no cause to fear, for in
the end it is sure to serve their turn. The Oxford
tract fire, for example, has burnt out, and left the
ground materially the better for the blaze—its pro-
ductive power quickened, its superfluous moisture
evapmsted, its pores open' d for the reception of more
hmlthy moisture, or closed against rain and sun—im.
peeved, in short, in all those several particulars which
I VIaGIL bids us expect from a stubble conflagration.
But the country mind is different. Closed against new
impressions, retentive of what has once been &reed
into it, spontaneous, self-generat d impulse
would be looked for from it in vain.
Pressure from without—the pressure of a sledge-
hammer alone can propel it in advance. Neutrality is
almost the only favour that the friends of progress
can at any time expect from this section of the body-
academic. Its member', can only promote a gaud
work by keeping out the way.
On the present occasion, however, even the country
voters have done their duty. They. have either staid
away altogether, or have come up in numbers so in-
considerable as to render their influence imperceptible ;
or (most unlikely supposition of all) have voted on
the movement side. Which of all these courses they
have taken we know not. We only know that they
have done their duty; that the new statute is passed.
and the credit of the University of Cambridge saved
for the present.
The result is to be contemplated with unmixed
satisfaction. Whatever changes may be re-
quired in the institutions of Oxford and Cam-
bride, there can be but one opinion as to the
advantages of an extended echeme of instruction, as
they actually exist. It must either promote a
thorough reform of them or supersede the necessity for
it. Once give a real and thorough cultivation to the
academical mind and all that is required will follow.
Fellowships will, be pruned; professorehips made effi-
cient ; work cut out for those who now find no place
in the system, and are in consequrinoe daily transferring
their sympathies elsewhere. All means for carrying out
the existing idea of the universities will be supplied ;
and if absolute change, not mere development, be
found requisite, for that, too, the way will be pre-
pared. By the more catholic spirit of intellectual ac-
tivity imparted to the university, the tone of the aris-
tocratic part of English society will be elevated.
Brioches of randy will exist in which even noblemen
can interest themselves; and it may be fairly insisted
~tt that every man shall work who is allowed to eat—
at the college table.
Seeing what Cambridge has done, can 3 iford re-
main inactive? A similar educational isaw•ment has
some time ago been initiated there. Tee Hebdoma-
dal Board, it is understood, have under consideration
a proposal as extensive and important as thet which
has happily become law in the sister university. The
sitting of such a body upon anything is unfor unately
capable of more results than one: it may hatch, but
it may also crush. The probability is that some
I measure will be passed, but that it will be entirely
illusory. A third examination is the principal improve-
' ment asked,and this is likely enough to be granted ; but
there is reason to fear that it will relate merely
'to such subjects as can be spared from the two
existing examinations. A nominal reform which
should distnbute the present subjects over three exa-
minations. instead of adding to their number, would
obviously be nothing but a mockery. But it would
at least have the effect of making the resident liberal
party more earnest in their appeals for interference
from without. And in the present day Oxford men
—whatever may be the solution of the phenomenon—
are more disposed than those of Cambridge to invoke
suck interference.

that (mot besefisial to thee
' Ily-r••• sitieust of the'
wad chp was lialladaBllllll Rem the par*
of Durham—ace
of South fibild be the VelvetslV
=tailattadwchich mrietphuatambeen defensitlb:a had
for the ecclesiastical and spiritual wants of the parish,
bat which, we no such provision was made by them,
beams in consequenne an operation of rank and
positive injustice to the 30,000 people who inhabit
South Shields.
Nor, while thus referring to the University .of
Durham, can we forbear the parenthetical expression
of an opinion t. at, however useful such an institution
may be in the north of England, the manner in which
it hasbeen founded has been improvident and unwise;
that the salaries given to its •fficers and professors are
much too large, and that the endeavour to clothe it with
a collegiate character is unsuited to our times, and in-
volves an expenditure which might have had more
useful objects than fellowships. In ary distributim
of the episcopal and cspitular surpluses, under the
Church Temporalities Act, the efficiency of the paro-
chial system throughout the diocese ought to have
been first secured, whereas it has been altogether neg-
lected, in order that the warden of Durham University
might, in addition to his golden stall and his rectory
of Ryton, have 5001. a year, in order that the professors
might be comfortably settled with their 700/. or 8001.
per annum apiece, and collegiate pluralities, and that
es string of fellowships might rival those of Oxfard
and Cambridge.
To return, however, to the waste perpetrated by the
Dean and Chapter, it must not be rippeeed that Wes-
ter, is a solitary example, either in point of duration
or of money. Turn to the evidence taken by the com-
,nirtee on church leases in 1838, and there the late Mr.
HUDDLE may be fou..d stating how in 1820 he paid
that body the sum of 40,000/., as a fine for the renewal
by it of coal leases held by his employer, Lord LON-
DONDERRY • and a subsequent renewal of them has,
it is understood. coat his lordship a further fine of
20,000/. or 30,0001. Thus, within • period of 30
years, Lord LONDONDERRY has paid the Dean and
Chapter of Durham not lees than 60,0001.; to not
one penny of which (if " Knight v. Mosley" be
good law) had they any right. And how has
this sum been applied by them? Have they
followed the example set them by Bishop BARRING-
TON, who when (by means of a suit in Chancery) he
received the sum of 70,0001. from the late Mrs.
BEACWONT for arrears ot rent of lead mines, laid out
the whole on his diocese? That the Nip:teltr h .de
have in that period been to some extent liberal can-
mot be denied ; but as parliamentary returns furnished
W themselves show that down to the enactment of
the Church Temporalities Act, they annually divided
32,0001. amongst themselves, it can as little be denied,
looking to the general state of the diocese, that they
never did their duty.
But why place the Dean and Chapter in the van of
assault, now that the capitular body has been sub-
jected to legal restrictiors and control? Because the
prebendaries who survive the old system are still
committing the waste denounced ; becau-e
it is on Dean and Chapter property that
this waste has chit fly been, and still is,
perpetrated; because, if we can only che.k it,
then the waste of the parochial clergy will be easily
restrained; because it is to the bad example of the
dignitaries of the diocese of Durham, that the whole
trtem of coal misappropriations—nay more that
the discreditable condition of agriculture in Durham
is attributable, as was indeed publicly stated at Dar-
lington the other day by Lord lAMDONDERRY.
Though millions aye millions sterling—have this
been lost for ever to the church in Durham, there is
much, very much, that may yet be saved to it by
prompt interference and wholesome legislation.
Already (so the Bishop of Llsous told his clergy
at a public meeting the other day) the ecclesiastical
commission have exhausts d, in the endowment of ad-
ditional ministers, the 30,0001. a year which Sir Ito-
BERT PEEL% Act of 1843 enabled them to borrow
front the capital of Queen ANNE'S Bounty, thus anti-
cipating the complete appropriation of that sum by
twelve years. Hence, added his lordship, the corn-
toiesion is at present without the means of making,
further endowments. But why, may we ask that
distinguished prelate, himself an ecclesiastical com-
missioner, cannot further funds be found in
the better administration of the mineral pro-
ofp the church, thus largely misappro-
priated in the diocese of Durhau. ? Here is
an income fend at once available for the purposes of
the commission. Here is an annual revenue farexceed-
ing in amount that which they are now dispensing
fiom the past ac.umulations of the Bounty Fund.
Here are means of church extension such as neither
lapsed canoories nor overflowing deaneries--such as
neither the revenues of sinecure rectories nor the
oblations provoked by twinges of episcopal consciences
have yet poured iota their treasury. Here, in the
diocese of Durham, is to be had, and merely by Pre-
venting these scandalous alienations of church pro-
perty by ecclesiastics, money eniugh to provide spiri-
tual superintendence for at least another million of
oar heathen population. All that is required to real-
ise it is honesty and a little extension of an act of
parliament which already gives the ecclesiastical
commissioners some power over church minerals;
but, unfortunately for the church, not power enough.
Did the ecclesiastical misappropriators of Durham
ever hear of 5& 6 Vie., chap. 108 ? It is an act to
enable ecclesiastical corporations, aggregate and sole,
to grant leases for long terms of years; and in its
provisions church minerals have not been overlooked.
' They may be leased for a period not exceed:els::
Ay ; prick up your ears; " not ex
Ceara Ay
But on terms and conditions, de-
spoilers of the church—of the poor man's
eitarch! terms end conditions apparertly so
distasteful to you, that not a single lease
of church minerals under its provisions has been
granted in the diocese of Durham. No; the habits of
seolesisstical waste in that diocese are too inveterete
le be eradicated by any enactments not compuls.ory.
By one section of this well-intended but most me&
fictive statute, leases of church minerals may be
cited for a period not exceeding sixty. years with
meat of the ecclesiastical commissioners. No
soriry ridable difficulty this, it may be said. No;
but to it another obstacle ts added, that has proved
les repulsive for the Durham clergy to swallow. It
TOWS Um:
Pewvided always, and be it enacted, that in case of any
ben 1 Lase, minerals, quarries, or beds granted under
this est, ease portion of the improved value accruing there-
varleg se by like authority shall be determined, not being
assn them Wee-fourth parts, nor lam than one moiety of
each ispressi value, atiall forthwith, sod from time to time
se the ram shall accrue, be paid se the said ecclesiastical
aaalimWoraers f r E iglu.d, and doll be subject to the pro-
, ilisss Wenn to moneys payable le then ; ant the re-
mark" of seek impeeve• vaWs able be awned to be an
imeeieneen within tee seeelet al die previsions relating
ea the Ineemee al stebtohbege red bia=mtera and chap-
ters, offehisnociaa, and haraushaste of respectively.
Here, unfortunately for the church, the enactment
stopped. Whereas, it ought to have gone on and con-
tained such provisions as would have inhibited all
such demises of church minerals as did not contain
these reservations in favour of the ecclesiastical com-
mission. In it, however, we have the principle re-
affirmed that ecclesiastic;l corporations, be they ag-
gregate or sole, are not entitled to the mineral pro-
ceeds of their benefices. So that both old law and
modern legislation agree in this—that ecclesiastical
waste has been and is now being committed in the
diocese of Durham. And to Lord J. Itrieseit's pro-
mised measure of fort' er church reform we look for
the correction of this frightful instance of clerical dis-

homily.

To award praise is an agreeable Maki especially
when it has to be awarded to any person or
body whose habitual conduct is more apt to provoke
couture. We are glad to have an optiortunity of de-
daring that the University of Cambridge has fairly
earned a large mead of praise. The extension of
its plan of academical studies, proposed six months
ago by the governing body, and oarried last week in the
senate, Ira majority of nearly two to one on every
point, dries equal honour to the resident and non-
resident members of the university.
The heads of our universities are in general some-
what slow to m....ve and when they do advance, it is
with the measured dignified pace which gout or
grandeur hays insepar.ably aseociated with pre-
scriptive sad hussar* majerty. And, what is
most, even whom they have made up their minds
to advisee, the ecristswee of the will, despite the old
proverb, does not always in their case imply the ex-
stenos of the way. Themselves a torpid body,
they have to move another incorporated with
them that is utterly inert. All the abuse that is
lavished on academical residents for their ignorance
of what is posing in the world of busy life, ten times

FRANCE.

DEFINITIVE ADOPTION OF THE CON-
STITUTION.
PARIS, SATURDAY 6.30 P.M.
After several abortive attempts to introduce amend-
ments, and some discussion without intere,t, the As-
sembly to-day completed the revision of the project of
the constitution, and voted its ensemble by a majority
of 739 against 30. Immediately afterwards M. Du-
four, Minister of the Interior, rose and moved that
the Assembly should withdraw into its bureaux for the
purpose of appointing a committee to concert with the
government the public solemnities which shall attend
the formal proclamation of the constitution. A com-
mittee of 13 was accordingly named for this purpose
one from each bureau.
'The postponed meeting of the Rue de Poitiers
will take place this evening, and the discussion is ex-
pected to be one of the highest interest, MM. Mo:e,
Thies, and the other leaders taking part in it. The
question under debate is still the engrossing one of
the presidency. What attitude will the party take
on that important subject ? Gen. Changarnier, who
had written a letter to one of the journals declining
the candidattehip, has been induced by his friends to
suspend its publication, at least until after this meet-
ing shall h •ve pronounced its opinion. Personally,
the gei.eral would, of all the candidates, be most
favourably viewed by the party ; but, as he would
not have the slightest chance of success, it is thought
more advisable that the party should not induce
the electors to throw away their votes. What
the majority letherto have said is, " We are opposed
to Gen. Cavaignac, but we have no desire to'
use against him any openly hostile measures,
either in the Assembly or in the prem. With respect
to the other candidate, Prince Louis Napoleon, we
take no part pro or con." The gist of all this is, that
the party of the ltue de Poitiers is not well pleased
with either one candidate or the other, but would be
less discontented with Prince Louis than with Gen.
Cavaigr.sc. This is precisely the feeling.
The chances of (len. ratl er
increase ; at least, inasmuch as his probable minority
will be augmented, Ind there will therefore be more
chance of the election falling into the hands of the
Assembly.
M. 'I biers declared to several of his colleagues
in the Salle des Conferences yesterday, that he
had resolved not to accept office under Prince
Louis as president, and he affirmed that in the
article ef the Constitutionnel which I sent you a day
or two since, it was intended to express this resolu-
tion. At all events, it is now quite certain that M.
Thiera will not come into the government under the
Bonapartist reyisne.
A rumour has been circulated that M. Lucien
Murat, member of the Assembly, and cousin of the
llonspartes, intends to propose a decree to the Assem-
bly, to exclude Gen. Cavaignac from the presidency,l
on the ground that his candidatesbip would be at
variance with the spirit of that article of the constitu-
tion which disqualifies a president from immediate re-
election, Gen. Cavaignac being regarded as virtual
president at present.
The party of the Institute bad a meeting last even-
ing, on the subject of the presidency. Suchi
difference ef opinion prevailed that no resolution was
taken, and the meeting adjourned till Monday. It
ace, however, from what took pl ~ that a
majority will be disposed to resol-e in favour of
adopting and recommending a candidate, rather than
leaving the electors without counsel on so important
a subject, and if this resolution be adopted, it is pretty
certain that, considering the hopelessness of the can-
didateship of M. de Lamartine, to whom this party
would give its preference, General Cavaignac will be
adopted.
The members of the late provisional government
and executive commission and their friends who be-
long to this party, foreseeing the probability of this
decision, have already manifested their intention not
to go with the majority. Mkt. Gamier Pages and
Pasnerre have especially combated such a course,
sad they have deckred that if the majority adopt it
the minority will address a protestation to the French
people on the subject, in which they will explain fully
the ground of their opposition to the candidateship of
General Cavaignac.
M. Achille Fould, the banker, has presented to the
oommittee of finances to-day the report of the sub-
committee on the project for compensating the
holders of treasury bonds and the depositors in the
savings banks for the losses which they sustained
under the decrees which compelled them to accept
stock at a price higher than that at which it could be
sold in the market. The report is in favour of the
project.
There appears to-day in the Monileur the follow-
ing circular, addressed by M. Dufaure, Minister of
the Interior, the spirit and tenor of which have re-
ceived the approbation of all parties.
Paris, Nov. 2. Monsieur le Prifet, the National
Assembly has just fixed the election of president of the re-
public for the 10th December. France is called on for the
second time to pronounce on the constitution of one of the
great powers of the state. This election will be in all times
• grave and solemn proceeding. Charged temporarily to
execute the resolutions of the National Assembly, the presi-
dent of the republic will exercise contiderab'e influence over
the destinies of the country. It is he who by all the branehes
of the administration is in communication with every *ld,
every interest, in all tarts of the terri.ory ; he influesees the
good dispensation of justice by the character and kende. et ,
the judges whom he chooses ; be disposes of all the snood
forces of the republic; he represents Francs before other
nations. The choice of the citizen who is to receive this
high and difficult magistracy will always be one of the
greatest sets of popular sovereignty. In the present
time special circumstances give it even greater im-
portance. The republic has been established for eight
months, bat by painful necessity it has injured interests and
wounded convictio-tr. It encounters adversaries, who en-
deavour to create for it emberneements, enemies who aspire
to overthrow it, in order to substitute for it either a violent
and demagogical dictatorship, or one of the forms of monar-
chical government, which during the hat fifty years have by
turns showed their impuissance to govern the country. Ad
these hostilities will perhaps meet at the ballot, which is
about to be opened for the election of president. They will
endeavour to place a representative of their subversive ides.
in face of the Assembly, which has so firmly and with inch
intelligence founded a republican government on the old and
respected bases of our social order. In this great struggle
the conduct of the government, to which the National As-
semble has temporarily delegated the executive government,
is clearly traced out. It reduces itself to securing the liberty
and purtry ot election, to obtaining the sincere expression
of universal suffrage. You have already comprehended that
the government is bound to allow every citizen to appreciate
in perfect indep mimics of mind the merits of the candidates
who arsi proposed to him. Ido not mean to interdict you
from voluntary int mourn with those under your • 'minis-
'ration; but, on the contrary, I wish that this intercourse
should be frequent, and that you should confer en the true
interests of the republic. It will be easily conceived that Its'
future well-being di pends in part upon the citizen who shall
gest be riled to preside over its destinies; that the nation,
the sissies it makes should confide in one whose past life
hes bus wfthout trproach, whose patriotism is incontestable,
of a manly and energetic resolution, and of approved services
to the republic, rather than to vain and delusive premises.
Bet, whether they may be enlightened or not, convinced or
smithy your councils, the erectors must be left free in their
chaos. Be cautious of calling in aid of your opinions their
laterals, their ambition, their fears, or any of the bad per
sins which may mislead thins. Do not encourage Weal,
pretemints, do not talk of unbounded favour., of lightening
of
taxation, of gratifications which no government can afford I
dim. I know that the whole country may legitimately claim
metsriel ameliorations. Cause it to be compzehended that:
thogommasat is ode* occupied with these things, end
Net ell yaw dalseatioas any be the sopranos d a &mcad
&MOM win, without ever becoming ose of these means of
sodastine which are too frequently employed. By abstaining
fan the.. manarevres,thegovernetrut has fulfilled only °Be-
half of its task ; it must also prevent others from using them.
Out laws punish acts of violence or corruption at elections. I

Tne railroad magnates, at least some of them,
seem to have been attending the congress of peace.
They have been listening to the voice of Brume,
and of his eloquent colleagues abroad and at home,
who have been preaching the absurdity of rivalry,
the nonsense of considering a neighbour as a natural
enemy, and the preposterous pleasure of emptying
another's purse at the sacrifice of one's own. They
are converts to the doctrine of common understanding,
arbitration elauses,and a con grcse of companies. Fiercely
and numerically have these potentates fought in com-
mittee, in parliament, and in the wider champaigns of
midland and of southern counties, and with much the
same results as the great war of England itself
when it coped with France—able mat, manes, brilliant
victories, loans and subsidies, with the people who
I lived on the loans and subsidies, making a chorus of
joyous acclamations, which were mistaken for pros-
perity. But all ended in collapse and exhaustion.
I The burden of supporting the debt succeeded to
the excitement of spending it ; and never has there
been a moment since, when France has stretched out
the hand of amity to us, that we have not been most
enthusiastic to accept
it-
We do not wonder at steam and railway kings under-
going the same necessity as other monarchs, and
talking of peace, reform, and retrenchment. That
these potentates, whose struggles convulsed Eng-
land and threw away so much of its capital,
should oome to an agreement to cease ri-
valry and work in common, is an idea that
one should expect to find welcomed by the
public. But some of those who took every occasion
to complain of the rival prodigalities of railroad com-
panies, now start objections to tt eir amalgamation
and economy, by urging that the public may suffer.
Here is just the same spirit, which would prompt
the powers of Europe to keep up armies, and remain
in menacing and expensive distrust of each other, in
order to ward off beggarly economy and encourage
martial virtue.
We cannot, for our part, very well see how the
public is to suffer by the amalgamation of railroad
companies, which, atter all, do not run to the same
poin.e, except in very rare instances. The public
will be much benefited by an economy of capi-
tal, by an economy of land and labour, or economy of
lawyer's fees and parliamentary time. The lower
classes are already secured the 'realties of being trans-
ported from place to place below the minimum of
cost. As for the other farts., it must be the
interests of three united companies, as of one, to
make them as low, as will combine the posted
quantity of traffic with a remunersiag return.
As to power, which might at first glance excite
some fear of its increase, we are inclined to think that
railroad companies will not increase their power over
the public and over parliament by combining.
On the contrary, when apart, attacks ageing&
them were necessarily nattered. Whereas the
moment they combine, there will arise a cry,
pea though there be no foundation for
Vmonopoly. And the railroad interests
ite liable to the same enmities as any other great
company, such as the East lodic Company. the Bank,
aid others ; and woe betide a company thus marked
out, which does not satiety public exigencies and
complaints in time, ere odium and obl. quy swell to a
popular clamour ! The more railroad interests us
collected and united, the broader and more vulner-
able will they be for hostility of all kind,
sad the greater the distrust felt against them, not
only in the public but in parliament. The days are
ree when a great commercial interest could support
itself by its parliamentary power. Great bodies in
this country are mod exposed; and magnitude is no
a source of polittoal strength, but weakness.
lar far from thinking the division of the companies
accessary in order that the public may wring from
them similarity of gauge or any other national want,
public and parliament will be no less powerful and
exigent towards the combined than towards each
separated.
Hitherto the grievanee, which has most affected,
and does still affect, the public, proceeds cot from the
combination of railroad companies, but their separa-
tion. Whilst the highest class of payers are hur-
ried on without loss of time iu most instances, second
and third class weevers are in general doomed
to wait at the great places of junction for
hours, an infliction to which a single company, poit-
seised of one long line, durst not subject the kas
wealthy portion of the public.
Nor are the rich themselves always exempt from
the annoyance. There is a feud at present raging

atlhlebewmfinn..(dlymeglicautepd.rtyy•Lteds,illif
between Mr. Pr.ASE and Mr. Ilhintow, two io
watcht ao d that
attentively thus
lawortetrh
NneLets. the freedom of election which you have yourselavtesresPett --
letellry, make a report upon them In the ihs Republic. You will exact from all eth Peocureur
t f!!„
potentates cf railroads, in continuance of one another,
anthed ftorwmoingeeptLee greoaft
olirestne whichßritei e. con
whom • fatt:deindifference may keep from the ballot to
these gentlemen and their train' are playing at I signal's to you an enemy whicb you must end:sae:lu
cross-purposts, highly amusing to them, but most an- combat—the negligence of the electors. You will 000 ti:
noying to the puVic. If Mr. HUDSON', train arrives
understandth
a moment late, as trains will do, Mr. Pesan's train
ect 7"; pliesward.
is sure to have given it the slip, and gone off before in question all that the National Assembly° bat adopted
Loflytehsosioi who hays the
its arrival, for the mete purpose of show- since six months on behalf of order and liberty,a ipass*l
ing how behind time Mr. HUDSON is. And social order, without defence, to attacks u ferrail:ble la
the worthy public, first or second class, is thoseltheamoitith
.of June, one cannot understand the
you must make them feelt tthmat". tWrible
forced to pay the piper by cooling their heels and .
and you
trial of universal suffiage; lett la
lriughtt, theyan
wtoeurldimtgumfretmontothet
losingthithis
is to: ehtiredpaotfiernicereitroyr hfrooumrs inm hlleshrlipengotopnie.
etSluerergely mabrutoitoiodimakty;on.
derive no profit. Never was there a case in which the meet it with confidence • let us place etue hope in the inn-
Drlirant mem, *Mentor Aehlvt, hautible resources of go.od sense and patriotism which Fran
. aXtua
possesses ; let us so act as to obtain the tree and enlighti
"
was so completely applicable. Here at least vote of our fellow-citisens It is impusible that this
more combination and centralisation are re- can expose to us tie hum& of a new revolution. tywatail
the electoralte lists, the holding of the colleges, the investige.
quired. And even Mr. MUDsoN, though ever send you, in a few days, instructions on the preparations of
no great a stickler for local authority, and
for municipal magnates being kings on their own tiers
of
oth t ballot,h e 2 t aid on
t lig
tthhise detiils, otmexeein, non of the
dunghills, must admit that the wars of the two rail- to call
on you to reflect on the great apoliyti°car &Id's=
way roars of York and Durham, are less an advantage France is about to accomplish, and en the attitude which
[ than a nuisance, and that a r ongress of railroad peace you must take, in the Ilallatt of the government, under the
is highly desirerle in the northern counties. new CIICUIDALILOCPO. Accept, M. le Prefet, the assurance of
my most diminguished consideration.—J. Di:rat:kg.

In the distress which now presses upon trade in the
capital the holders of stock in trade of various kinds,
unable to find for it the customary and natural vent,
and, on the other hand, unable, without realising its
value, to maintain their business, have ri sorted to
various extraordinary expedients for forcing sales;
among these the favourite instrument has been lottery.
IBooks-Ilers and publishers, who are among the
greatest suffers rs by the crisis, have especially re-
sorted to this, and have demanded from the govern-
ment an zemption from the penalties of the existing
law against lotteries.
An extraordinary fall took place at tl.e Bourse to-
day, the threes hiving at one time declined to 42.20,
and closing at 42.30 for cash, and the Fives having
fallen to 66.45 and closing at 66.75. This panic has
been ascribed to the operations ut some large holders
of treasury bonus, mho, under the terms of the pro.
posed law, will be entitled to receive in cash the
difference between the price of the stock already paid
to them and the average price since the date of the
decree compelling them to receive it. By lowering the
price now that average would he also lowered, and
the difference to be received augmented. Whether
this be the real cause it is certain that the reduction
has been effected by sales on an uncomm large
scale.