The Express.
London, England, 1856-09-24 00:00:00

ate expreoo.

ansrossmata taim—dmi iii-.7ir iI i eiveinVidiZa &Wag paper,
sem le et thot Mo. 10. Itconertratroll. by Two VG se ilifi
du et publitottat.

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Two [rum*. 11111LPH10011L Mr. mod Mrs. C. DI .—AM
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IN Collars ; Mrs A. Men (Ws Ms Walser). Me
m. rriktoromil Mrs. N. Mille.

MOB WATER AT LONDON BILIDOI.
Taw Day-11denims, Ilk. N0...........kti0n50, Ilk.
Tomossarr—MarilaA Ilk. s366—..Aftsnars. a► Os.

LONDON, WEDNESDAY,

Tan coodition and prospects of the French Mosey
Market exercise so direct sa action cm that of Est-
had that we ark. so apology for directing manilla
to its present and probable future position. A right
appreciation of its anal state is the moors soosseary
from the oiresonstacte that the active trade is hellion
sow earned ea on both sides of the Channel Is a
temporery derangement of the ordinary entree
of trade, ad of the exchanges, to which we has
hag ben accustomed to look as laicise of
esesecernal movement, bat which will probably,
Gem the rapidly increasing vans of silver, case
tot great extent to serve se such at so very die.
Sat period Bat we see no mama hr bang er
believing that even then the gamey market of
Paris will return to a sound and healthy canditloa.
We have formerly pointed oat that the pa die and
ommercial financial operatics& of Frame have been
for some years past based on the amempties that
prosperity and external and internal pew wasear
nista : them wen the very olemests of enema.
The Tarkish war deranged am poetics of the Gala-
lotion; the deficient harvest, and more recently the
terrible Inundations, showed hew perilous it woe to
trust to the other. The Oneramat had ecommaced
s series of enormously =rune pablie weeks ;
enpi-
talins were escoaraged to at is hot ammonia
enterprises of every deariptien,hreign sod deseeetio;
and the Bask of Frame assisted those operation,
by large winsome, which, by fesilitsling Bares
spetrakidass, maistained high prises, mistakesly
quoted as pooch of national prosperity. Oswerce,
tis true, partook of the stimulus thus gives, and had
It not bees fettered by the steady withdrawal of
capital tato other chancels, its progress would have
boa is all probability sot oily more rapid, bat
mere permasst. Whoa, however, the aesemities
d the State ..spelled the Government to have
recourse to a series of heavy Maas, the oontinsous
and enormous &Bands oa the Sating capital
of the country lama to tell severely, and
sommercial enterprise was orippled. With the
thalandoa of pasta a hash impalas to badness
asemed to have bees given, bat it weed short den-
tine ; and notwithstanding the reduction of the rata
of interest, the discount' of the Bak of France
Watts very unmistakeably a stagflation sonstutly
among.
So lag as the French armies were in the Bast it
was not difficult to account for the rapid absorption
of spook ; but although that drain has ceased, the
bullion shows no sign of reflux. Batmen January
and September the Bank of Frames has paid 172,5001,
premium on specie; ors-bird of this amount has
bees expended within the last three menthe, and yet
the metallic reserve hu diminished more than two
millions. The current accounts have dearamed above
bar millions, and while the lames la diocesan
daring the same period is 1865 was above two
in 1858 there is a diminatioa of 1,300,0001.;
is feet, the amount of bills sow eider discount, after
maths of peas, is aaly about 300,0001. greater than
at the roue period last year, when various
eiresm-
otaaces sombined to exercise great poseurs on los-
mono, and to limit mentantilo traossetisse.
The restrinisa of advisees ea stook and shares by
the Bank of Frame has dammetrated, most as-
equivocally, the case of the high pekoe of soeurities
ea the Bourse, scaly, an lalatelopesalatioa as bor-
rowed capital. The enema this support is with-
drawn, prices become depeadent es sounder pric
dries of apply and demead, and a grades'
bat decided fall takes plan. Nor le it pro-
babas that the fall has yet noshed its
limit, judging from the heavy rues still paid far
sontinsieg accounts cm the Bares. Tare is evi-
dently mach more stock of various descripliess sliest
than the public can absorb, sad still there le Can-
tinal maim of rens, following the paymat of the
mathly instalments ca the lea loan. Then are
very heavy alb hanging over various railway ad
other shares, and the mans of new shares end
obligations is set yet at an end, iscreasing the
already mesons *moat of asearities alma.
Tins scomien of Bares Imam to the
semen of the CiEdit Mobilise may be looked
apes as an indication that men fangs ester-
prises will be handseled oa the Paris Boars%
absorbiai additional capital, the greater peeperden
a which will probably be remitted in era% let
whisk the increased prise at silk and the deadest
barren already mates a rapidly inereasing deemed.
What the amount required for the masa of grain
may be, it is difficult to estimate I the resat of the
harvest as sompared with that a led year is favour-
able, but the deficiency of the supply as compared
with the demand is stated to be very largo, and will
undoubtedly aggravate seriously the drain of bal-
lion. We most also bear in Naiad that the people
in Treace have a natural Modesty to hoard coin,
The activity of speculatica In railways and the
open loans called forth many hidden stores of
specie, and the declaration of pease drew still more
tato circulation ; bat the ant shadow of distrust or
meadassm will mum the peanuts and fanners again
to hide away an, and whim' is mare 'Maly to
prods.* this effimat than the apprebeasion of political
dssger•

Tiroughoat Priam the feeling is probably uni-
versal that the internal tranquillity of the empire,
sad mosequeetly the market value of investments of
every description, hangs solely on the life of the
Retriaoa. There is no nal sad thorough belief la
Ws dynasty, as represented either by his infant
sou or big collateral*. KS death. it is admitted
ca all hasslet would be the gigue' fora general mesh.
The subject is tabooed throughout France ; se sr
"peaks publiely of his appnbuslose, bat the inspeth,
also in mavens' that the preent state of things eau.
mot beg condone. While emameres is soda' and
floarishing, awn peel lightly env these things, bet
when every day adds to the mosetary pressure, whoa
the daily wants of rimy individual berme more
dillienit to supply, a growing feeling of sooodisoos
manifest" itself, as now—a Iselin aggravated by
the dimontent forced epos men's Wads ea
fading that all the vaunted prosperity wee
Betides', that the ougnideset sada-takings. pales
sad private, were beyond the powers of tho comma.
aity, and that la order to give lolat to the
advent of the second Empire a bonbon hee
been laid on. all Frames whisk it will take
many yeas of easeemfal and peseefal lour
non to lighten. Then it, liewsnr, ces peril la oar