The Express.
London, England, 1860-02-20 00:00:00

had orananeaesd
Britain, the C
markets ; and

limits. The asmedy was applied.
The Yeatif speculative expanaise-1867—when
the value of merry rose to 8 and 10 per cent., was
Mowed by seed enatiow-1868.--aad the vales of
money fell to n per cent. This was the natural
consequence of the influx of the returns
sad profits of the large consignments made
abroad daring the former year. It will
perhaps be urged that the difference, apparently
fise-and-a-balf millions sterling, between the
amount of the experts of 1867 and those of 1868,
gams hardly selleisat to acconat for the striking
difference in the condition of the money market.
Bat is reality the demons in the exports was larger
than it appears to be. Instead of five and-a-half
millions, the amount of the difference becomes se-
veral millions larger If ere compare the twelvemonth
ending Oct. 31, 1867, with that ending Oct. 31,
1868 ; for in the last two months of 1867 bacillus
fell off greatly, whilst in the last two maths of
1868 it wee recovering. Moreover, of the
118,408,7661. of exports in 1868, a far larger
proportion than usual was paid for in cash
or at short credit; and an unexpected and
welcome relief was afforded by the sudden
meted of • demand for oar manufactures in the
great Indian market. Whilst the exports to foreign
countries and the colonies fell from 110,899,8 UL in
1867 to 99,826,370 i. I. 1868, the exports to British
India, which was particularly anxious for the geode
and eager to pay for them, rose from 11,666,7141. to
16,782,3801. Taking into entrant the additional feet
that the weeding out of weak commercial houses had
cleared the market of the very clam of paper the
competition of which had driven up the rates of se-
mismodation to the prejudice of the legitimate
baler, we shall have little difficulty in understanding
uke very different aspect of the money market in 1868,
es sompared with that presented in 1867. The
hellions traneacted was altogether of • superior
Made, more far cash and leas tor credit ; whilst the
Mutton impressed upon the public mind caused
foreign commitments generally to be restricted
within a narrow compass.

The contraction of trade has been followed by
111111111.114 expansion. The foot that the exports in
' 18110 Were fourteen millions larger than in 1868,
sad eight millions larger than in the specu-
lative year 1867, suggests the inquiry—are we
again extending our engagements too far ! The
Minded effect suddenly produced in the money
market during the last few weeks by the partial
mospension of specie remittances from abroad lends
riot to the question. The reports from the Indian
meekest, may be watched with the more anxiety
bosses the exports thither, which rose from
11.111116,7141. in 1867 to 16,782,3861. in 1868, have
advanced is 1869 to 19,832,6991., showing an in-
erease of no less than 8,16.5,9851, within two years.
Again : the receipt of news of a commercial crisis
at Melbourne makes as scan closely the shipments
to that port. We cud that to Victoria there were
sent in 1869 goods valued at 6,467,8891.. being
upwards of a million more than in 1868, and within
181,5971. of the amount shipped thither in 1867,
when the Australian markets were glutted.
There are, however, many reassuring indications..
The higher value of money this year is a natural
consequence of the increased amount of business
goiog forward, and does not prove that that business
is unsound. The improvement in the general cha-
racter of trade noticed as the peculiarity of the
year 1838, appears to be, to • great extent, main-
tained. The reign of long credits and " open" credits
has not yet returned. All practical observers agree
that trade is healthy. We may have over-supplied
the Indian markets for the time, but we see no real
ground for anxiety in that quarter, since there is •
vast capacity of absorption in the interior. To Au.
trail& there has been an excess of supplies during •
prolonged period, as the market reports show, ship; en
owning to forget that the colonists, though un-
Idoubtedly able to pay for • very large amount of
British goods per head, are still comparatively few
lin number ; and that there is not, as in India, •
large native population ready to absorb any surplus.
Bat as the total shipments to all the Australian
eolonies and New Zealand in 1859 are stated at
11,225,6161. morainic 10,483,0321. in 1858, and
11,632,5241. in 1867, the difference is not sufficiently
large to invalidate the reassuring conclusions derived
from a general review of the position of trade. Were
the aspect of trade in the United States lees oonti-
dut than the journals and mercantile advises prove
it to be, we should almost be disposed to look to that
quarter as the one is which engagements are being
multiplied too rapidly. TN exports to the United
States in 1869 were no less than 22,174,2461. against
13,994,8161. is 1868, and 18,552,8671. in 1857. But in
'payment for those enormous supplies America has
an unusually large crop of cotton, which she is now
seeding os, and which we are at work upon for re-
exportation. It is not easy to see how America can
acquit herself of her liability without sending us a
good round sum in specie, in addition ; and this is
a peiat in favour of our mosey market.

A letter from Alexandria of the 4th was, "The
Timmy yesterday paid a visit to the Hls.kr. Ths yards
we manned foe Wm, and Gas of the Armstrong gone, set
side for *awning the neon dating the voyegn wise shoo n
him and worked In W. presinee. Rs was, of maw,
Wily delighted, and expoweed Masai mad gratified wnh
bee

Tb. greatest rage ever reached by any Am-
eba em was 9,130 yards; sad this iris orite a 32-pousder
Grid whit • 610. Marge at se elevellea of 33 be. Tee 3-
me et* el Mr. Widmer* drab bob la Mr of projec-
tile sad bleb as are Noble re drelethe bra be tams of
be bed, quite mare the parlioreeme of he Mayor ma-
gebee. Whet Mr. illigtwortb'i 10-peredes will do at a
peeve degree renthe it is bed le by sow ; but, jeer
be of tAr tame by Mat Me already be. eseaseirbed. a
rep et sea his bat 10,000 yards Is embody eashipolled.
Tbellelpearise is to be aversely trier sort Weareeday.
TQ 1/1811 LEGAL APPOINTMINTL—Ws jaunt-
does Ann Lakr) ere ambled to Kw. th..t itedesat 1104011
bee reestvel be reel G&W rah/bibs operetta him
hss Illehotes Nalarine-Osassal ter irelutd, to the rem of
Mt. &my, M.P., sepolard ANOOllOy.OOOOO6l. Kr. Lem
I QC. bit be am Mara% aad weir his ream silos
of C.MI. Adviser. It le oremerd Wt Mr. Robb Abbe;
QC, alarm el the Most Rehm at tbe bra Cork, wW
bo tromiserrif la bosom" Debits, reset by the primetee
of be aew Mbeher-Geaseet bet it Me act Is.. dreided
Me ball be his mesmoor I. Curb. kerb Mord. Q.C.,
Wet, P.C., sad Colby, are all spokes of. There I. also a
N?warm tattablp of mew, P
ast by be debt .1 Jambes Orem Ma, awion=l.
Mir abbe the his tow days.
DRY= OF MEL MINIX DRUMMOND,
M.P.—We an barn I • vas bat the easemeneset of be
&oh si Mr. Hoary Dommed, whisk apposred le the
Sorer yeraday, r prastara. TM be. member, wlbg it
at Abby Park, 11. est, maw 01111114 was wardiered
nem brew 00 S .oorday list, sad sere beer be eater-
tied of bleal•troita reewery. Lib sad Lady Lenore rod
Lady Oripere Mr. Dreamland of Abby. Up
M m Tfaeord boar lest smu; ;bit relations el the hoe.
ienshinsa bad eat noshed be alights., titlarks that hi.
Maus had Isnoitterad In MM.
Tut ftIiFiIiaIINTATION or illihlS.—Csptiiin
Mam etagoode bad eddreenul the electors. H. says—" I m
as ado mots ter • tell amen of temnt righ,, sad will sap-
eirt say bill that ray be iwrodoar tato pertiesneet wbl
era lead to encourage ladastry, mare outlay, ad give t.
obi Inkaat • pabstastutl talons m the land Its oacapies. I
see le favour of rearm whoestice, ant will give a Mt
seplset to say mime brew Maud se roars dstoosei-
greats fa Mob. Ia ll eGrocete so summits
el lb. gad vets by bike to imam its fvb •1010001.
With regard to be Liebe qualea, I am foe otalatainisi is
their Myrrh, tbs dorrierie of his Hauer.. the Pops, sad
dap rate any foreign laterteriaos that wink' deprive him of
hi. moliat whammy."

kUL

ks 4
Res Majesty the Quest, sesesipsnitia by the
Prisms Lag*" reds as bresabati is the Ridbay-Issie d
Reakbashere Pales as asterley seasies.
The Prises Comas reds as harshisk as fielesky mow
tog. Rte Royal Rlglases, stlisdat by LiewS-Osisest the
Res. D. de Roo, Tidied the Beath Yessisitos Mums S
the Amon.

The Qasan and Price Celan bramand tie palarnantas
at the Haymarket Theatr• Ina tastr priamm la the amain.
L attendarme .an the Cowan ciDanart. Has. Larry Krim,
Hem Nary Ballad, Lad Comm Lard Cliarlea Pituoy,aad
Liaat.-Calocral lb* Ham D. de Yee.

Yesterday bat Majasty , -the Prieto Comet, the Nemeses
hike, the Prima Hama, Prime Lathe, Penes Amketr,
the Wks and Bonham of the Comet, sad the Dames&
Bemeboll amemisi Divine tube la the Private Clhapelt
Buckingham Palma Tee Rev. Y. Gelomm Sate• Dina et
the Chapel Berl, Is. Jmrh, meethei the Samoa.

A Cabinet Council was held ea Saturday, et
the G&W residence of the First Lord of the Trea-
sury, in Downing-street. The ministers present
were Viscount Palmerston, the Lord Chancellor,
Earl Granville, the Duke of Argyll, Sir Gone
C. Lewis, Lord John Ruesell,the Duke of New-
I castle, the Right Hoo. Sidney Herbert, Sir Charles
Wood, the Chancellor of the Exchequer, the Doke
of Somerset, the Right Hon. T. Milner Gibson,
Sir George Grey, the Earl of Elgin the Right
Hoe. C. P. Villiers, and the Right Hon. Edward
Oardwall.

Sir liewiend Hill bad an interview on Saturday with the
Moodor of the If actieqaer.

Drayetebse were received on Saturday tree tate Oeryraer•
at Mang Hoeg, Cryloo, Malta and Newhandired, arld
the Lord Hiss GentolsWoner of the haled Lalonde.
Despatches were feet to the GOVIIIIIMI Of the Australian
Colgate% Kaarfthte, lAbaan and Gibraltar.

The Dabs of Cambridge,
eigolled hie thematic, of presiding at the dinner of the vole:t-
wos Winne, to be given on the 7th of /lamb.

►, has

His Royal Highness the Doke of Cambridge re-
moves t'.-mono., from St. Jameit's Ptlsco to Cilotte.rter
Hors, Park-lane.

Hut Excel Irony the Amstrian Minister and the
Cassese d'appyoal were honoured with the company of
their Royal Highnesses the butte sod Decease thumb, at
dinner on Saturday ',adages Cheerio* Hosea. TDW royal
Midterm, attended by the Cossiess de Wier. strived at
8 o'clock. There were preesat y nest the Mestriome
' games his Ezralimey the Premiss Mitislit sad the Comatose
Berastore, hu Kscalledy the Same Mtaister, his Exedleaoy
Ye flpsaish Minister, the Duke sad Duchess of Weigegton,
the Dscheas of invensse, the Marahlasese at Ely, Count
?Maim, Coast de Janes Cosseem Y. de Peesegarten,
Frames Commas Wakilagnave sad Mr. G. 0. Harcourt,
Vistaed Choler. Ldp Duarte, Berm Diesel Rothschild
sad Count Wimples, Coma Halmoky, sad Beath Doses-
hem The Counties d'Apponyi, at a later period of the
amain had • small neeptios.

Viscountess Pahmantou bad an assembly on Satur-
day remise et bee amesias Y PlesadWy. Previonsly to
tne seeetotily die noble AMMO. and vissonntres entertained
.t dinner the Marvin and Merehiamas of Lourtesderry,
Maria Itarchionees of Aileebary, the Emil and Concuss of
fitelbsnee, the Red and Counters of Shaftesbury and Lady
Victoria •Ashley, Viscountess Jocelyn, Viscount and Vie-
astantess Stratford do Radcliffe, Lord Wen, Lord Stanley of
Alderley, Lord Dank/Ilia, Mr. Hseilap Rus.ell, M.P., and
Lady Elisebeth Rummell, Hon. George Cavendish, Mr. Alfred
Mostiosairy.

Th. Swedish and Norwegian Minister and the
Cosaues PLUS entertained ra Saturday at diaper hie
lizaelleeey the Preach Atabserador sod the C0414(816 de
Penkey, the Bari of St. Germans, Lord sad Lady Wilde-
beest', Mr. sad Mrs. Sidney Herbert, Sir Maud end Lady
Cast, Lady Maisetrortb, the Marquis d'Auglio. Count sad
Cowls. A. Haailtun, Genet Strzeloald, end Baron end
Barman Hoebschtld.

Lord John Rummell entertained at dinner on
Saturday, at his residence in Chisel's:l-pleas, the Hon.
rse H. C. Hymn, M.P., the Rao. G. gnior, Michael
Mr. Mostrack, M.P., Mr. H. M. Miler,
M.P., Mr. Binh, M.P., Mr. Gene Hawn, Mr. C. J•
Cavendish. to.

Lori Broughton has been seeing company during
the past week m Corsham House, Wilts. Lord and Lady
William Powlitt were to lairs Contain e• Saturday last
for Bath.

Lady Margaret Beanmont's assembly is postponed
from Tneeiey, the 21st, to Tuesday, the 28th Inst.
Oa the 4th instant the Count de Paris and his
heather, the Duo de Chartres, were on their way beak to Cairo
hOIll their excursion into tpper Egypt.
The martiage, oa Thursday last, of Miss Glad-
stone, eldest daughter of Robertson Gledettlee, Req., sad
niece of the Right Hon. the Chancellor of the Rzelielmse,
wee quit* ea event for the ancient village of Clalderall,
eve oi.les wet of Liverpool, when the essemosy was per.
formed. The village wee profusel► aseceaspl to hawse of
the ocomioa. The ceremony use performed by the Right
&v. the Bishop of Chester. The bride wore e robe of white
glare .11k, with dosome of Brussels leo% mid orange blossom
wreath, with tulle fell. Attempt the bridal party were
Sir T. Oledeoce end Captain J. N. Oladatees, emotes to the
bride.

The Prince and Prisons Frederick of the Nether-
lands and their daughter, the Prisons Mazy, sidled from
Rotterdam, on Wednesday, in the king's plates yacht for
the lale of Wight. The two priaossess hated to remain
three months In that Wand, bat the prises wiU return very
shortly is Hollsod.

The Duke of Northumberland, according to re-
cast lattam from Lisbon, has been *matted to his hotel fa
that ost.ital by as attack of gout.

We regret to learn that Miss Nightingale's health,
which has for some time camped muoh nnessineee to her
relatives, continues to decline.

Cadinal Wiseman, although not permitted to
attend to boaters, is, it is said, sufkiesttly rearmed to Woe
• drive.
_ . .

The Irish bar consists of about seventy-six ro-
e...tants io every hundred of the practising lawyers. The
common law basal shows seven Bornsa osthedies to dee
protamtanta. &man ostbolics—Chis[ Judos Illonsghaa,
Judges Bell and Keogh la ths Comma Pleas ; Chief
Bann Pigot and Baran Hughes in tb. Ilixediequse; Judges
O'Brien sad I. D. Ft.zeraid la tbs Quasa's Bench,
Protestaate— Chief Justice Defray and Judge Hayes in tbs.
Qessa's Bench, Heroes Greene sad P. rtagersid is the
Exchequer, sod Judge Christian to the Cosmos Plass.

Tim lonian Gazette of Use lot elostaino notifies-
Um by Air Hoary Storkooontienalag the °Mom, hereeelere
preosleet, of transvaluing to the Lord MO Cootodsoimer,
as eeettdostioll o onninniostioso, doctenewe cootogslog Ass-
derma &necks on persona both In piddle and private
etteetioac

The following has been sent by cinder or by
telegraphic message to the members of the eotwervathe
party :—" Cartels and Most Important Division!—Os Yea-
day, Febrawy 20, an Amendment will be moved oe going
Mee Committee on the Cullom. Acts, to consider the Budget
d 1840. And you are m ,st perticulerly and meet eerasetly
requested to steed is the Home of Commons till the ter
deans• et the Debate. Wm. G. Hylton Joiliffa"

Oa Saturday 'Teeing, Mr. Vaideahoff read, at the
Frei Trade Hall, Manchester, Ike principal part. of Shia-
mania tragedy of Macbeth.

Mot bill to "diminish the danger incurred by
arrests and Ohne employed In cleaning and inspiring
windows," prepared and brought into the House of Commota
by !le Charles Sowell and Mr. Cave, has the follow-
* for its =la edam':—•• Esrey occupier of any
braes or ether bending, or part of a home Of other
►ellHq, or °Ow parson who orders or permits any
press is his Novice (other than a tradesmen, or the appren-
tice or servant of a tradesman, in the ozonise of his Wl
log) le Mead, sit, or kneel on the rill of any window, or
to he on the outside of any window, in order I.
alma. *at, or perform soy other act with regard to an,
window, or any ►om' or other bonding, or scything grow-
Mg awe= or Azad thereto, shall, unless mob window be in
the soak or baemeest story, he Retail as mammary conviction
for the same to a {malty not exceeding forty shillings for
melt eater eihnte, or In the discretion of the jostle* of the
peace Is inbred or 'folded, or sheriff or magistrate in Root-
lead, ba6re whom he is eoesiesed, may be committed to pri-
ma. *ere its 'mak br period eel easesdier fourteen days."
MATH or gra Jam TUDIlta, BAHT.—Wei
to me ad the demise of the above hameet, who died, on the
13th iasteat, at Rotterdam, when ka wee British Caudal.

seed Is America, emen4Ml to
Osetimmt, Hamburg, Bredd4 eat other .11
Id bedlam wee °retracted within arrow