The Express.
London, England, 1859-12-05 00:00:00

THE EXPRESS, MONDAY EVENING, DECEMBER 5, 1860.

Ceasele. Even within the but fortnight, a sum of
110 less than 1,600,0004 has been athested by the
Ewa Indian Railway Company, in payment for nem
Debentures.

Indian railway securities representing an aggre-
gate of more than thirty-two millions sterling have
now been taken up in England. The exist/nos of •
steady tismand foe them is proved by the magnitude
of the amnia, as well se by the position
which they still hold in the market, not..
withstanding the rapidity of their issue. That
the public should like them is natural, for there are
many points in their favour. Amongst these are.
1. The Government guarantee, which is pledged to
the railways as absolutely as to the Goverment
/eau. 2. The additional security afforded by the
railways themelves. 3. The prospect of surplus
profity is excess of the guarantee. 4. The right of
the companies, in the improbable event of their on-
dertakings proving unremnnerative, to demand from
the Government, at any time after their completion,
the repayment of the capital expended. 6.
The large population and rut commercia
researese of most parte of India. 6. The
abousse of railway competition. The letter
plat is of considerable importance, as it in-
volves one of the grand dames of the enema of
railway enterprise in Fromm Lard Duzotrua,
whets opinion ought to he worth something, has re•
sordid it to the effect "that the Government will
" never be called spots, after a line shall have been
" in fall operation, to pay the interest guaranteed
via the capital."
The policy of issuing Debenture" redeemable at
. _

fixed periods, as the Government bat jut permitted
the East Indian Railway Coinpsny to do, at the
same time pledging the reveams of India for the
repayment of the priasipal, is open to quondam.
Several of the other Indian railway camps.
aim me Mill offering Debentures upon the
same terms. Tim point is of the more importance
Maw the Indian Government has a large floating
debt of its own already in existence. In addition to
7,000,0001. of India Bonds in circulation in England
there are 13,000,0001, of Four per Cent. Debenture',
of which 6,000,0001. fall absolutely dee in October,
1883 t 3,000,0001. in April, 1864 ; and 6,000,0001. in
August, 1864. Yet it is impartible to resist a ma-
viction that the most serious difficulties of Indian
Finance have been surmounted. The holders of
railway debentures will probably be glad to
=WOW their option of converting them into
shares t and the extraordinary rapidity with which
the new Indian Loan ham bee, absorbed and
raised is prise will render the handling of the
Fear per Cent. Government Debenture Debt as easy
matter.

The character of the financial accounts from India
corroborates the view that what at one time ap-
peared to be a danger of Imperial importance bee
been to a great extent obviated. Lord CANNING'S
hart financial despatch to the home government hes
been freely discussed on the spot; and criticiems of
the numerous " contingencies and eventualities" in
which it deals are not wanting. But the genera
Impression in India, as in England, is favourable.
An improvement in the balance beet for the current
year, to the extent of 828,0001., arising from increased
estimates of the proceeds of taxation, inclusive
et the new teriff, forms a subetantial gain to
annwain with. The disappearance of the Govern-
ment air a borrower in the Indian money
market h not yet to be looked for. It hopes, during
the present finahmial year, to raise 3,200,0001. by
local lona. Its sash balance on the 30th April,
1360, will then probably be 1,383,0001. larger than
en the 30th April, 1839. In 186041, the inenen
of revenge is estimated at 1,460,0001., and 4,000,0001.
is to be mind by loan in India. The cash balanoel
en the 30th April, 1861, will then be 2,000,0004
larger than on the 30th April, 1859. The estimated
deficit, both in England and India, for the year
186960 is set down at 6,500,0001., and that for the
year 1860-61 at 3,360,0001. The reduction in the
deficit for the latter year is in great part dependent
upon the collection of the large inn of 1,500,0001.
hen the proposed new tax on trades and pro-
fession, the bill authorising which has not yet
pared.

It will be seen from this hefty glance that the im-
provement in Indian Finance is still more a mattered
estimate than of fact I that the establishment of the
long-desired equilibrium between revenue and ex-
penditure is yet distant ; and that the era of loan-
raising is not over. Still, the mere fact that the
financial gulf, which at one time appeared to be so
dark and deep, has been fathomed, is powerfully
calculated to inspire confidence. An endue degree
of importance seems, however, to be attached to the
question of the locality in wbieh future Indian loans
are to be raised. If the native capitalists take more
of the government paper, it will be mainly became,
they know that there is now a large market for it in
England.

" Amongst other eassiesl parties likely to visit
as soak" rys the AMA's, "we lisar with yles-
sure el cps rear by lisimme Cathode* Hayes, whose
appearance her es a knew reseedin drew togrber so large
End brilliant an reserisge."

Several detaehtneula of troops paned through
Para oa Saturday oa their way to the seaports far embarka-
tion to Chia& They were apparently very gay, and ace►
Awed. It appears that the movies le grevriag
poplar tho arny, sad that the Dunbar at valuators who
oared thoseelan t.r the Chinas° expeditioa was more the*
do bis what woe required.

lonian politico aro jest now at a stand-atilL The
paelaabent, whkh wee prerecord last arllloll, red mist to
west is Deowsiter at Corfu, will, it is did, .gain he pre
reused by the Laid High Commissioner, ea the semi& of
the owing elutes la the catatitatko, in virtu, of which it to
the latiren's prereestive to do so.

THZ WITH num/Aye—lt is
sederseed thee deeptobee win be forwarded by tho moll et
Me teh teem Lewd Jots Hassell to Bssor Valdes, President
Lepers lilirderser for Forgive Abair!, relative to the nest
eAstedinliesdlog Mimes the setborttles at Asada* sod
Earlasstea. Ger moat vat,l kW, la that omelet, rr
speslis H. llosalammant s Moot. Vldeen calms claim-
big Is a DdelesinS sad mooliceted, with several
Is lumina for It. object the mem-
=eitirls pemillest the overthrow of hie govern-
ment. From the wt of Lard lota Resell ewes=
direct with w l'empoyem MOIBRITO, Metes' of
Ids. H who be. withdraws to Booms Ayres, It
may be wem.d that lie lordehip the jamas, of
fleser Valdes'. repriesitetime ea to the reseemblenne of
the Peressoyeso dmlisi with offenders ageism their laws
la the soma throe Imre isjotn; end that hie lardship le
=d So nom all desosstistiona of force, Hash should
, until he le natio& thee is...
I. bola= argiriZt a serif of hostility to Heidi
iseuraele mid bosom All letenties of the sari Me bees
assimieelly disteMsed is writiop by Senor Valdes, es as
met of Pienblest lA,es. Zesty proof of the trethfielmee
et molt dlooleimeor kw bees tired to be feraiebod to hie
lordehip, Mega ha mem the reesimite inquiries to be lest.
rated oe the este. No doubt he will du bpi for there are
sallideat ecempiteettose in the Plaine Ohms
slresdy, wittiest farther 4ftbrelhaaata through tie perm
of • &Mei lime Is the remoter waters of them reeks;
maim then should be the wet essietakebbejestifirstiesime
seceseity for mei aradistatlaa.—Lirogasi Allisa
Tin Czar Useza or ?Hz I.Arsrra COM.—
Mr. Janes eli.Y , abs bee bees for twiny men the oiler
✓im of Ms anent, mad vim hem recently mat ia rearm-
tka M. aelesded the court for the hat Mee
as fleteriley. MAN dr Saw-lama aitaillelmat
oboes fumy yeses aim, .ebfeli wee et the time at Me ir
airman the Mass aim la the serirke. Foe some mem
let hod bees is Isopeeeer of party of the Bowaseelt
sod Waves* yews ep he wee eppolated umber to the
larebetivereet polieemsert ; sod ou the of the
polimeosrte act be was preempted to the of aid
✓elem Mr. Aigrette foemerly the le sow the ant
mem ; mid gdwaid Moo., formerly es; of tja, "wing
oillows, Was Asinine pleas

MR Court.

WINDSOR urns. Du. 3.
The royal dhow party yastarday Whaled Priam
IPmdariak Wiliam mad Meow Predate WU d
Praia (Pitman Royal), Um Pasco al We* Primer
Atka, Cambria HAWK Canatm Lyme, Lady 0. Bar-
Mu Hey. Lord end Lady Wrietboloy
Cog the Hon. Mr Chubs Mips, the Dan it Misdate
and the Han. Mrs. Walbaloy, the Han. No.. Biddalph,
Woad the Hon. B. Bruce, Coast Parposabar, Captain von
achwoinitz, Major Elphinatmas, LB., sit Lisa.-Colonel
Hoppa,

The Nelms of Kest joined her Majesty afar dinner, at-
tended by Lady Aegean Brace.
The band Cl the let Life Gouda attended and played
daring dame.
Her WOWs priests band afterwards palinsed In the
Pis
Prime head& William sad Primrose Fredintek William
of Mesas (Princess Roy l) left Windsor et 8 o'clock this
amiss froths continent, yid Lesko and
by Osantses Robenthal, Comtism Lynar, Must Pte,
sadliain von flehesdafts. Lard Aldred Chat
to w Qom, joined in Lenart; and rilted fa
eftarlsass Is now.

Bar Me,4ll;;Priewn Cowed, the Prima of Webs and
Priam, eseseapsaisi Prima and Pitmen Preiwish
William to selMegjmn, where the Prisawe Sept sad
Prises Inderlek We.. teak Ism of the class% end then
=sete the
we
Anne station (swatted by
of the 10th lissears), where a amid train
was be rewtheese to seam the al party he Dover.
Ems Majesty aftweeinds to Wiedscr, sad arrived
at the Castle at 26 ideates helm 10. la ettendewee were
the Ream of Athol], Roland the Boa. R. Env" Captain
Du Pis; end Lieutenant-Colonel LoppeL
• gwd of lower of the Orearasr Ouse* with the bowl
of
of the
the Qi regime!,
and same party. was at the Ma. w station on the departure
n=
The Prism of Wales returned to Oxford Unimak, in the
Senewen. .I$ dad by Colonel the Hon. R. Bruce and WM:
Ooleeel isped.
The Queen and Prises Ceasert, with Primes Ales,
walked in the grounds of the Castle after rstarning tram
Lowkw

The Dachau of Kent Melted the Quer It the alternma.
The Judge Advocate Gemmel Wea eediseoe of bet
Mr3,3imberiteebat aei
apr:esedimp baettr er 00artitgl.rtiaLpecuon
to the Paige Comet some syeeimmie et he um mode of
L
phiceerimphe piemeseet Mk.
la the the Primes Alice Maid veal bet Ifejtety.
LAI
_Canals Coked the Hoc Sir C. Plain*,
eed Major ILlphieeteas, had the beam el beat ie-

TM baad at the Onaahim Goads was is attsadaasso sad
Plaritir4'• PriMis Bari showards pssisnesd fa das
Drs:Mrtooms

Tb• Qom sad Prim Owassit the Prisms Mks, Pris-
ms Ibiess. Primer Leaba, sal hiss Arthsw,dis labia
rd Cintlara et lb, Ow% owl Os Densode Zwassbal,
model DM= awl= this waskti YShe PM," Copal,
The Ur. C. P. Tenor 11121siod.

larallisam Bum Ali 11ms. lie Polka eilskter,
byllr. PATNA B. hal an laeolhow
=
dr lteeeell at the Pare mllehisday,
ha Ma Imo es Me aspartare.

Mr. illemed M. Mellor, sad Mc Hwy Mikan, of Liver.
pod. IMlelaihd bombes, at the Forelepwelaw oa Satiuday.
Kr. Omni Pelliwith Wot tattiviaw with Lord Jahn
Bawl! ea Ilitarhy, at the levelpreffies.
. . _

The hack! CaSaillsa et the Prl Cos s& sat on
eatazday. As mai IFen latial v. Ocsaain
(port lissed)—was asselsfed.

;444=, l " Imre mat from Se Cekedsl•offlos, ou
the posses of Ogles, Hong Kam Lebow,
Salta, and OSee,eed. to the Lott Hung Eons
the lotto Ideas.

LATEST INTELLIUENCE,

EXPRESS FROM PARIS.

(MK 0111 OWN

PARIS, SENDLY Evwwo.
The fonrmerehants of Liverpool promise to become
as famous in French history as the four sergeants of
La Rochelle. Their letter to the Emperor, and the
answer to it, signed by M. Mooquard, his Majesty's
secretary, is the principal topic in the bulletin of the
day in all the evening papers. The Petrie says:
This admirable letter Ohs MUIR of N. Kocquard—not
that of the four totechenta) willcontribste sot a little to allay
the anaminses of the English people, sad to king it beak to
sentiments of truth and judos. It wield have been
Minh to swam the most elevated emtiments in more
splendid language. In the history of our relations with
England, this letter will certainly remain es an Magoon
testimaitial of the moderation and magnanimity of the
Emperor.

The Pays, in a short, contemptacuts paragraph,
watts in italics the extraordinary phrase in the
merchants' letter, asking what were " the intentions
of the Emperor with regard to England."
The Press. sarcastically observes that the
Emperor's chef do cabinet had an easy task in
intimating to the writers, of course in the most
courteous terms, the contradiction implied in the
step taken by them. The "confidence" in the Em-
peror, which M. Mocquard assumes them to possess,
"evidently either showed the question to be un-
necessary, or implied the answer which has been
given."

- It is to be regretted that the French journals have
only been furnished with the answer to the four
merchants, and not the text of their epistle. This
historical blank will no doubt be filled up in Eng-
land to-morrow. Meanwhile, the French press
is not agreed as to spelling of the names
of the four men. An authentic oopy of
the signature of the firm must be had before
the page of history anticipated by the Patrie can
be written. As far as I can guess, the true desig-
nation of the Liverpool house must be Maims. Shaw,
Mellor, Irving, Blakewell and Co., but the Prow
and Poker print the name of the head of the firm
as " &haw," while the Prow calls hint " &how,"
• name which would infer a trade with Russia.
The second partner is called Melloo—certainly not
• common name in England i I suspect a misspelling
here, but if the orthography be right, the gentleman
must certainly be of Languedoc origin. The junior
partner is styled Blakwell—probably Blakewell is
meant, but this may fairly be considered au open
question.

The Emperor and Empreu, and the Imperial
Prince, arrived in Paris to day as was expected.
Marshal Msgnan, the Prefect of the Seine, thePrefeet
of Police, the Ministers of State, War, and the
Interior were in attendance at the Northern Railway
'cation to receive them. A considerable body of
troops, consisting of detachments from the Imperial
Guard and other regiments composing the garrison
of Paris, were drawn up in the square, fronting the
station. Shortly after 3 o'clock, the Sag hoisted on
the central pavilion of the Tuileries announced that
their Majesties had taken possession of their metro-
politan palace foe the winter season. ,

The Moniteur de la Flotte states that the navy is
to be reduced by the discharge, on December 31, of
all warrant officers and sailors who may h►ve mat-
pleted forty months of service in all, whatever may
be their length of service since the last levy. This
news is to some extent a confirmation of a rumour
which reached me some days ago, that although
Lord Cowley had not been the bearer of any pee-
per/ far a mutual disarmament, he had been em-
powered to assure the English government that
France meant to reduce her military establishment.
The Opinion Nationale is the only journal which
as yet makes mention of Prince de Joinville's letter,
bat it does not dare to lay before French readers the
declaration of the Prince, that although a child of
France he does not desire to see "present" French
isatitutions transported across the Channel; the
place of that passage is marked by asterisks.
It is reported from Rome that since Garibaldi's
resignation the Papal government has become much
wee insolent than it wee for a time, and that it
now openly seta at nought the advice of Frame and
treats M. de Grammont with many degrees lees
respect than formerly. The Univers to-day does
net shrink from printing a letter from Rome in
which it is averred that nothing ever contributed
same to inspire the hearts of the faithful with love
he the Holy Father than the grief they felt at the
diplomatic circular of the French government of
Nov. 5. The idea of counselling Rome to adopt an
- for the mat part lay," to give goa-
d jos-

rantees for a " better
tine and finance," is denounced in this cor-
respondence as horribly " crude." It must be
confessed that now, whatever may have been the
cues a year or two ago, there is more liberty of the
press in France than in Austria. In the latter
country private journals are punishable tor cen-
suring any "organ of the government." Here a
religious newspaper presumes to speak in the
harshest and most contemptuous terms of a diplo-
matic paper, signed by the Minister for Foreign
Affairs. The Univers lays it down ex cathedra, and
once for all us a proposition not open to contra-
diction, that, "in the belief of catholic', eocleshistice
administer, have administered, and will always
administer better justice than laymen do render,
ever have rendered, or ever will render to them."

Their Majesties returned to Paris to-day at 3.30
p.m., and met with a cordial reception.

The Kiog of Naples has given permission to the
French government to lay down a atbmarias telegraph be-
tween Gaeta and Corsica. Naples will, therefore, viey shortly
be pieced in direct telegraphic communication with Peels,
aad consequently with London.

The Nivere says it is intended to erect a splendid
altar at Cologne, to manilla the precious relics of Duns
&otos, the great champion of the doctrine of the immaculate
conception, which are preserved in one of the many churches
of that city. ♦M. Richest him given 40,000 theists to-
wards the work. On the original monument of Duns Scotus
was the well-known ittooription :—" Scotia me gamic;
Anglia we sueceplt ; Oath, me death; Colonla me tenet."

Marquis Massimo d'Aseglio hu just published a
pamphlet to show that both 'mind policy and Christian law
are in favour of the annexation of Central Italy to Sardinia.
Marshal Vaillaat visited the theatre of La Scala at
Milan on the 28th ult., on the occasion of the benefit of the
Blind Asylum. He afterwards sent 5011 k to the director of
the institution.

Mr. Paul Morphy is esjoyieg the hospitalities of
Baltimore, vipittag the chase club., sad whining all the
games, of course. He IS es road. to his house la New
Orleans.

The Capitol at Washington is nearly ready for the
reception of the American congress. The apartment in the
senate wing for the use, of the president is more than half done.
The ceiling 1. embelliahed with historical and emblematical
painting.. The Intelligetwer says that "hundred. of visitors
circulate through the Capitol daily, feasting their mlnda upon
its glories."

We an glad to dad that the Atlantic Monthly is
sot diswestlaised, u wee feared would be the awe, ow ea.
meat at the mistortties of It. lute publishers. The Deme-
ter humble Se oat, sad coatities some spirited 'sticks.

The Batton Journal Gaya or Senator Sumner, who
Muriel from Europe by the Canada, that he return. Woo
him trip in health and epirits. It I. hie 'steatite to take his
mat la the Benue at the opening of the mat moles of Om-
rem. George 8. Hillard, E.q., arrived Dams by the arm
seeemat withal Leek Mr. Sumner.