The Express.
London, England, 1866-01-01 00:00:00

MAUI AND FINANCE IN 1865.

The Daily News devotes considerable space to a review
of list year's trade and finance, taking each month in suc-
cession, and pointing out its characteristics and issues, and
claiming the experience of the whole as affording an irro
fntable proof of the entire issufficiency of our currency
system. For once there has been a storm in a clear sky.
Trade has been conducted on a legitimate footing, and the
rates of discount have not been maintained at an injuriously
low point ; yet at the close of September money went in ten
days from 4to 7 per cent. The explanation need only be
repeated that a rapid expansion of trade following the
suppression of the American civil war muted a corres-
ponding increase in the demand for the circulation. The
Bank, tied down by the restrictions of thirty years ago—
never designed, it should be observed, to meet a contingency
like the present—was obliged in self-defence, to render
the new development of trade as unprofitable as possible. In
point of fact, the directors virtually said, cud they had no
help for it, "The country is doing more business than we
can accommodate, and, therefore, we must stop it to the
best of our power." This, in plain language, is the gist of
the arguments for the necessity of protecting the reserve of
notes, the bullion, and so forth. We commence the pre-
sent year with the rate of discount at 7 per cent., solely
because the resources of the bank are insufficient
under the existing law to meet the common every-
day wants of commerce. Of course trade suffers, and with
it the national prosperity, but that appears considered by
theorists to be of little consequence compared with the
" maintenance of the Bank reserve." It is high time that
the influence of such antiquated ideas should be dismissed
once for all, and no better opportunity will be found than
in the opening year, when a new parliament can thoroughly
examine the question, untrammelled by timeworthy pro
judice, and steadily bent up upon knowing the truth,

The JAMAICA CommissioN.—Mr. John Blossett
Mauls, of the Midland Circuit, Recorder of Leeds, has been
appointed the third member of the Jamaica Inquiry Com.
mission, to act with Sir Henry Storks and Mr. Russell
Gurney. Mr. Menlo has received the highest recom-
mendations from the judges on the circuit, Mr. Justice
Shee and Mr. Justice Mellor. A communication to the
Mayor of Leeds has been made as to the appoint-
ment of Mr. Mauls, similar to that made to the City
of London in the case of Mr. Russell Gurney. These com-
munications were not absolutely required, but were made
in courtesy to the municipal bodies with whom these gen-
tlemen were judicially connected. Mr. Gurney and Mr.
Mauls will proceed to Jamaica by the next packet, and will
be accompanied by Colonel Walpole, military secretary on
the staff of Sir Henry Storks. Mr. Roundel), barrister,
will act as secretary to the commission, and not as secretary
to Sir Henry Storks, as was erroneously stated on his de.
parture with the new governor.-01.4crver.

The Telegraph has reason to believe that her Ma-
jesty has signified her intention to confer the Grand Cross
of the Bath, left vacant by the death of Lord Palmerston,
on Sir Robert Peel. The circumstances under which this
mark of royal favour is conveyed are peculiar. "In the
desire to make some acknowledgment of Sir Robert's
energetic and effective assistance, the government
had already offered him a peerage; but the
right honourable gentleman, for the second time
within 15 years, courteously declined the proffered
dignity ; preferring, as his father had done before him, to
remain in that house of parliament which is the real
vantage-ground of political action. The same reasons will
scarcely apply to the present distinction, which, although
not in popular estimation so exalted, is unattended by the
inconvenience of carrying with it any practical change of
position ; while it yet possesses a considerable significance.
The Grand Cross is seldom conferred upon civilians, unless
they are already of noble r►nk ; and we are not aware of
any commoners who actually hold it, except three or four,
and they are, or have been, cabinet ministers. Nor do we
recal any precedent of its bestowal on a statesman still so
young as Sir Robert Pest"

The Exhibition of Water-colour Drawings will
open at the Dudley Gallery on Monday, February 5. AU
works intended for exhibition must be seat to the gallery
on Monday, the 81b, and Tuesday, the 9th, January next.

The "Flaneur" of the Star gives the following as
the latest addition to the " quiddita, quillets, tenures,
oases, and tricks," of the lawyers. At a dinner of certain
benchers it is the custom to drink the toast, " Wine and
Woman." On a recent occasion the chairman announced
that he thought the same toast could be proposed in terms
more complimentary to the profession, and, thTrefore, he
begged to give them —" Lush and ghee !"

BALL IN WOECIISTIEBAHIRIL—Mr. H. Allsopp,
the Burton brewer, gave a grand ball at his residence,
Hindlip, Worcestershire, on Thursday evening. A pavilion
wee erected in front of the drawing-room, and no expense
was spared to make it as gay and festive as possible.
There were about 200 of the !hie of the county present,
amongst them being the Right Hon. Lord Lyttelton, the
lord lieutenant of the county ; the Earl of Dudley (the
wanton being prevented owing to the death of a relative/ ;
Bir J. 8. Palmtop' Bart., M.P., G.C.B. ; Mr. A. H.
Royds, high sheriff, and Miss Royde ; Mr. H. F. Verne.,
M.P., and Lady Georgians Vernon ; Mr. H. A. Be.,
M.P. ; Mr. Lyttedtow, Major and the Hon. Km. Neebury,
to.