The Express.
London, England, 1866-07-02 00:00:00

'I4IE'EXERESS, . MONDAY EVENING, JULY 2, 1866.

rate even the best houses cannot safely
be relied upon. As regards ihir .Continautli
we are in fact reduced to a position something like
that of Italy. Bills on that country are almost
unnegotiable, owing to the suspension of cash pay-
ments and disorganization of the currency. Here the
Bank rate of 10 per cent. produces a similar though
less aggravated wantof credit. Attempt toe,onvince
a foreigner that the late crisis has worked itself out,
and that if additional mercantile disasters are to
be feared they will have no national eßect, and are
no proof of unsoundness of trade, and his
answer is simple. He points to the present
action of the Bank, and naturally argues that he
cannot be far wrong in basing his opinions upon
those of our leading financial authorities. It is
clear, for example, in his mind, that the Bank
apprehends some further serious ill, otherwise it
would not, strengthened as it is now, continue
those extreme precautionary measures which
were adopted in the worst times of the
panic. Hence the steady efflux of bullion from
London to Paris, notwithstanding the difference
in the respective rates of discount in the
two cities of 6 per cent. A reduction of
the Bank rate would also liberate a vast mass of
notes which are now hoarded to meet some vague
impending evil that may possibly arise from the
continuance of the present pressure. We repeat
that if the majority of the Directo►s fail to dis-
cern these circumstances, they must at once be
blind to the signs of the times and deaf to
the counsels of the more capable minority of their
colleagues who have vainly tried to convince them
of their error.

It is very hard upon the commercial world
that, after passing through a crisis which for in-
tensity has been unparalleled since 1825, it
should still be doomed to a protraction of unne-
cessary suffering through the feebleness of the
very persons who have received special powers to
alleviate the difficulties of the time.lllThe regrettable
fact nevertheless exists that at nu time in its history
has the management of the Bank been so generally
and justly condemned. Every step in the crisis
has been marked by weakness and indecision, and an
entire incapability to perceive when the ordinary
routine should in the interests of the public be
departed from. It is a very serious matter to find
that a body of men chosen from our highest commer-
cial firms act on principles and show an intelligence
which differ only in a slight degree from those of a
workhouse guardian. As in the latter case, it will
require but little more for the public to cry out
for Government interference. The commerce of
England is of far too great importance to be
ever again at the mercy of a few bigoted doc-
trinaires. The action of the Bank during the
last six weeks must precipitate that inquiry into
the whole state of the currency system which for
years has been seen to be inevitable, and is espe-
cially requisite now. The management of the
present Directors, or at leant of the majority,
must also come under review, and if their proved
inability to deal adequately with times of national
evil ends in a different constitution of the
Bank, they will only have themselves to blame,
and the nation will express satisfaction for the
change.

OUR CONTEMPORARIES.
(THIS DAY.)

Us been 613,008/., so that but for this one item of
the incomebe revenue Amid hare shown an increase
iii the q of nearly 700,0001. The annual produce et
• fourpenny tax now appears to be about 5,777,000/. The
increase on the revenue of the quarter is pretty evenly
distributed. The revenue from the excise duties in the
quarter has been 5,144,000/., or 279,0001. in excess of the
corresponding quarter of 1865, and the revenue from
customs' duties has been 5,271,0001., or 93,0001. in excess
of 1865. The abolition of the timber duties occasioned a
loss to the customs' revenue ou the quarter which has just
elapsed of 77,000/. ; the equalisation of the duties on
wine in wood and in bottle caused another loos
of 14,500/., and the abolition of the duty on
pepper was equivalent to an abandonment of
28,000/. in the three months. These items amount to
119,5001., and the sum to be taken into account for the tea
duties. in comparing the two quarters of 1865 and 1866,
is at least as much again. If we take 240,0001. as the
amount of revenue formerly received from customs'
duties, but abandoned in the June quarter of 1866, and
add to it the actual increase of 93,000/., it would appear
that the duties now remaining on our tariff produced
333,0001. more in the three months ending June 50, 1866,
than in the three months ending June 30, 1865. The
Times observes that this result is a striking illustration of
the good policy of levying duties only on a few articles of
general consumption, instead of attempting to make every
parcel imported a source of income to the exchequer.
The excise duties lag but little behind the customs'
duties, and in the twelve months just ended they have
yielded the unparalleled sum of 30,067,000/. Though it
would be premature to speak with any confidence of the
results of the year 1866-7, after the experience of only
three months of it, the Times thinks we may at least say
that the receipts of the quarter which has just expired
promise a fulfilment of Mr. Gladstone's anticipations of
the revenue for the twelve months.

Citt Court.

WINDSOR CASTLE, JO3lll 30.
The Queen, with Princess Helena, drove in the
Home-park yesterday afternoon.
Her Majesty, accompanied by Princess Helena and
Princess Beatrice, drove in the grounds this morning.
Princess Louise and Prince Leopold also went out
driving.
JULY 1.
The Queen, accompanied by Princess Louise, drove out
yesterday afternoon.
Princess Helena, attended by Lady Caroline Barrington,
visited the Duke and Duchess d'Aumale at Orleans'
house, Twickenham.
The Queen, Princess Helena, Princess Louise, Princess
Beatrice, and Prince Leopold, and the!Ladies and Gentle-
men in Waiting, attended Divine service in the Castle this
morning.
The Hon. and Very Rev. the Dean of Windsor officiated.
A deputation of ladies, consisting of the Hon. Mrs.
Locke King, Lady Louisa Bernard, Miss Russell, Miss Cle-
mentine. Locke King, Miss Jane Vernon-Harcourt, Miss
Layard, Miss Knowles, Miss Harvey, Miss Peto, Miss
Nugent, and Miss Acland, had the honour of being
received by the Princess Helena at Windsor Castle on Sa-
turday afternoon, to present her royal highness with a
Bible, and the following address which was, read by Miss
Nugent :
"To her Royal Highness Princess Helena Augusta Vic-
toria.—Madam,—No words are needed to convey to your
royal highness the assurance of our loyal attachment to
every member of the royal family, and of the affectionate
interest we take in all that concerns their welfare. We
venture, however, on this occasion to approach your royal
highness with special congratulations on the happy event
so soon about to take place, and to request your gracious
acceptance of the offering we are permitted to pre-
sent to your royal highness in token of our duti-
ful regard. In asking your royal highness's accept-
ance of the accompanying copy of the sacred volume,
may we be allowed to express our earnest hope and
desire that, with each advancing year, this treasury of
divine wisdom may more and more become your
companion in joy, your support in sorrow, your
' counsel in times of perplexity, and your guide to everlast-
ing life—so that yon may at last receive a crown of glory
that fadeth not away.' We rejoice to think that in enter-
ing on a new sphere your royal highness will not be
obliged to sever all those earlier ties which you have
cherished with such affectionate reverence, especially
during the season of domestic bereavement with which
our beloved Sovereign has been visited. That every bless-
ing for time and for eternity may attend your royal high-
ness and the prince to whom you are about to be united, is
the prayer of, Madam, your royal highness's moat humble
servants,
" Mary DAUGHTERS OF THZ UNITRD KINGDOM.
" June 30, 11160."

Her Royal Highness, in accepting the gift, replied as
follows :—" Accept my warmest thanks for your beautiful
present; it is meet valuable to me in itself ; but it is ren-
dered still more so by the kind words with which you
have accompanied it, and by the proof thus given that you,
daughters like myself of our dear England, can appreciate
the feelings which bind me to my native land and to my
beloved mother, and can sympathise with the joy that fills
my heart to think that it will still be my happiness to live
amongst you."
The deputation then retired.
Her Royal Highness was attended by Lady Caroline Bar-
rington and the Master of the Household.
The number of subscribers for the present was as toi-
letry :—From England, 6,190 ; Scotland, 564 ; Ireland, 784 ;
Wales, 240 ; India, 2 ; Constantinople, I ; Italy, 4 ; and
New York, I—total, 7,786.

The Princess of Wales, accompanied by her Majesty the
Queen of the Belgians, took a carriage drive on Saturday.
Professor Fittig and Mr. Schulz had the honour of per-
forming on the zither before the Prince and Princess of
Wales, at Marlborough.house, on Saturday.
The Prince and Princess of Wales and the Duke of
Edinburgh, with the Lady and Gentlemen in Waiting,
attended Divine service at the Chapel Royal, St. James'.,
yesterday morning.
The Communion service was read by the Rev, the Sub-
Dean, the Rev. C. Parke, and the Rev. It. Harvey.
Anthem, " Plead thou my cause" (Mozart), sung by
Masters Warner and Coward; Messrs. R. Barnby, Mon-
tem Smith, and Lawler.
Mr. Goss presided at the organ.
The sermon was preached by the Rev. R. Harvey, from
St. Matthew, c. 21, v. 3.
The Duchess of Cambridge attended the service.
Despatches were received on Saturday at the Colonial-
office from the Governor°, the Falkland Islands Despatches
were sent to the Governors of the West India Islands,
Canada, British Columbia, Vaoouver's Island, and the
Bahamas.

The Right Hon. W. E. and Mn. Gladstone left town on
Saturday afternoon for Cliveden, on a visit to the Dowager
Duchess of Sutherland.

VISIT OF THE PRINCE OF WALES AND THE
DUKE OF EDINBURGH TO THE TRINITY
HOUSE.-(THIS DAY.)

SWEARING IN OF THE DUKE OF EDINBURGH
AS MASTER OF THE CORPORATION.

This afternoon his Royal Highness the Duke of
Edinburgh, who was re-elected Master of the Trinity Cor-
poration at the annual court on Trinity Monday, will visit
the Trinity-house, in order to be sworn in before
the full court of the Elder Brethren. In the even-
ing the Trinity Corporation give their annual entertain.
ment at the Trinity-house, Tower-bill, for which extensive
preparations have been made. His Royal Highness the
Duke of Edinburgh will preside as chief of the corporation,
and among those present will be his Royal Highnessthe
Prince of Wales, the Ring of the Belgians, the Duke of
Cambridge, his Serene Highness Prince of Leiningtn, and
many of the eminent statesmen who are honorary elder
brethren of the corporation. Covers will be laid for
upwards of one hundred.

Their Royal Highnesses the Prince and Princess
of Wales honoured the Lyceum Theatre with their presence
on Saturday last. Hamlet being performed by special
request, for Mr. Fechter's benefit, and last night of the
season.

Their Royal Highnesses the Prince and Princess
of Wales will honour the Turkish Ambassador and Madame
Musnrus with their company at a ball to-night at the
Turkish Embassy.

The Prince and Princess of Leiningen and family
have arrived at the International Hotel, London-bridge,
from Bavaria.

The Earl and Countess of Derby had a dinner
party on Saturday evening at their residence in St.
James's-square. Among the guests were the Princes
Edward of Saxe-Weimar, the Earl and Countess of Wilton,
the Earl and Countess Stanhope and Lady Mary Stanhope,
the Countess Vane, Count Alex. Apponyi, Viscount Newport, Lord and Lady Churchill, Lord John Manners,
Hon. P. A. and Lady Constance Stanley, the Right Hon.
Sir Robert and Lady Emily Peel, tic. Later in the even-
ing the countess had an assembly, which was very numer.
stay and brilliantly attended, upwards of 500 of the
aristocracy and members of the House of Commons being
present.

The Earl and Countess of Clarendon received at
dinner on Saturday night, at their residence in Grosvenor•
crescent, the Manage/nem (Dowager) of Normanby, the
Earl and C,oemteer of Tankerrille, the Countess Cowley
and Lady A. Wellesley, and a select circle.

- -
THE MARRIAGE or Psincsas Thus/ea.—lt is
understood that the sacred ceremony which is to unite
her Royal Highness Prince.. Helena to Prince Christian
will be performed by his Grace the Archbishop of Can-
terbury, who will probably be assisted by the right rev.
the bishop of the diocese and the Dean of Windsor. As
is now pretty generally known, the manage will take
place in the pnvate chapel within the Castle. and the
hoar for the ceremony will, ea in the case of Primer
Mary, be just before noon. The gentlemen of the Chapel
Royal of St. George will be in attendance. Every exer-
tion has been put forth by the officials in the Lord Cham-
berlain's department to accommodate the illustrious visi-
tors in the private chapeL The space will, however,
of necessity limit the number or those who can be present
in the sacred building. The wedding breakfast will very
likely be laid in the Music-gallery of Waterloo-ehember,
an apartment well known to the public, and capable of
holding • numerous company of guests. The royal pair
after their union will, it is said, proceed to Osborne to
spend the honeymoon, but Frogmare-house is to be their
future home. Prince Christian is expected to reach the
Castle daily, while preparations are being made for the
reception of the King and Queen of the Belgians, who
are expected to arrive at the palace to-morrow. Thurs-
day, the wedding-day, is to be kept as a public holiday at
Windsor.