The Express.
London, England, 1866-01-11 00:00:00

THE AMERICAR TRADE.

The Times observes that in the cautions it I
expressed against a reckless extension of trade with the
United States, it has desired nothing but to check a con-
fidence in the responsibility of the importers of New York
which appeared unlimited ; to hint that a very little
mistake in calculations of the future must produce a terrible
reaction ; and to show that the haste and want of fore-!
thought which permitted debts to accumulate on the other
side of the Atlantic, and made the solvency of exporters
depend upon the continued prosperity of importers, were
the means mat likely to bring about a collapse.
From the shallows.= of American education, how-
ever, the artificial system of protection has found its
last resting place in America, and if the New Englanders
and Pennsylvanians in Congress gain their object, caution
on our part will be unnecessary, for the trade which the Times
would moderate the protectionists wonldabolish,compelling
American citizens to use nothing but American produce.
The Senate has, on the motion of a well-known menthe-
tore; passed a resolution directing a bill to be brought
in for increasing the duties on foreign, and decreasing the
excise on domestic msneactiires. Still the influence of the
Western representatives, of the President, and of trf...

kf'Culloch, may restrain the radical protectionists from
pushing their victory tao far. This is to be hoped, for the
sake of oar own people, but still more for the sake of the
Union Welt

The Daily Nem ridicules the gratuitous counsel offered
to the L-nceshire and Staffordshire houses who are doing
the balk of the increased American trade, and condemns
the contemporary who has revived the dangerous sport of
raising false alarms. The deplorable panic of '59 was
brought on by his erroneous announcement of a secret
menacing compact between ROAIII and France, and the
same panic in the autumn of 1864, so ruinous to thousand%
was canted by the publication by the same contemporary
of the most untruthful letters, dated from New York, that
have ever appeared in any newspaper, and by the confident

r .
endorsement at home of the correspondent's predictions of articles. The question is described as a really momentous
en immediate peace. Writers who have so grossly betrayed one. The most recent and approved scientific estimates
the publio should be careful how they trifle with reduce the 212 years of grace accorded to us in 1863 by
great interests. In the estimate by the Times of the trade Sir William Armstrong to less than one half that period ;
between Great Britain and America, in 1865, it is actually and the consequences to England of a bituminous bank.
the case that of the greatest import of all—viz., cotton, no ruptcy are so incalculable that even at this date the
mention is made. An ham of 13,000,0001. in a trade of subject most challenge the miens attention of practical
about 32,000,0001. i. overlooked ! "The imports from Amer and scientific men.
rice," writes the Tinted, "are singularly small," and for

his instant confutation it is announoed that the arrivals of
American cotton in Liverpool last week were 43,163 bales,
representing a value of about 1,750,0001. ! And this is the
quality of the economical instruction which is thought
good enough for the greatest commercial country in the
world.

gbe Court.

OSBORNE, J.t.w. 10.

The Queen, with Princess Hermann of Hohen-
lohe and Princess Leiningen, drove out yesterday in a car-
riage and four, attended by Colonel the Hon. A. Harding..
Princess Helena rode on horseback accompanied by
Print* Arthur and Prince Hermann of Hob/plebe.
Prince Arthur, attended by Major Elphiustone, returned
today to the Itanger's.house, Greenwich•park.

A Cabinet Council was held yesterday at the
official residence of the First Lord of the
Treasury in Downing-street. The ministers pre-
sent were—Earl Russell, the Lord Chancellor,
Earl Granville, the Duke of Argyll. Sir George
Grey, the Earl of Clarendon, the Right Hon.
Edward Cardwell, Earl de Grey, the Chancellor of
the Exchequer, the Duke of Somerset, the Right
Hon. T. Milner Gibson, Lord Stanley of Alderley,
and the Right Hon. C. P. Villiers.

Sir Edmund W. Head, Bart., Mr. F. Seymour, Governor
of British Columbia, and Colonel Moody, R.E., bad an in.
terview with the Right Hon. Edward Cardwell, at the
Colonial-office, yesterday.
Despatches were received yesterday at the Colonial•ofßce
from the Governors of the Settlements on the West Coast
of Africa. Despatches were sent to the Governor, of
Ceylon, Hoeg Rung, Littman, and Malta.

The Crown Princess of Prussia has been suffer-
ing from the effects of a severe cold during the past few
days. The Crown Prince, who has been labouring under
bronchitis, has now nearly recovered.
His Excellency the Prussian Ambassador and
the Countess Bernstorff entertained last evening at dinner
the Lord Chancellor and Lady Cranworth, the Earl and
Countess de Grey, the Bight Hon. Charles P. Villiers, M. P.,
the Hon. W. and Mrs. Ashley, the Hue. Mr.. Bruce, Sir
James and Lady Hogg and Miss Hogg, Mr. Layard, M.P.,
ke., at the Prussian Embassy, on Carlton•bouse-terrace.
The Count and Countess Bernatorff had a select party after
dinner.

The Duke of Hamilton is expected to leave town
tomorrow for Germany to meet his mother aed sister at
Baden•Bsdso.

Tan DCCHESS DE CHARTELB.—Her Royal High-
ness the Duchess de Chartres was safely delivered yesterday
moreiog of a prises, at Moreno•house, Ham-oornmoo, in
the presence of their Royal nighttime. the Count sod
Countess de Paris and the Primus de Joinville. Doctor.
Maar, and Guinean de Missy and Mr, hod, of Eater,
were in attendance. Her royal highness and the infant
prince are doing extremely well.