The Express.
London, England, 1866-06-11 00:00:00

toxtering policy,

sr-f. AScinehail. - - -----
WIL Prorisier•

TO VINIBT-BND DINERS.—The WELLING.
TON, St Jsmea's-stro,t, Piccadilly. Indio(
an
Dintwroom on the 11
Int I. Tito subscription roonts are now
a's& Tarns, twelve months, ,C 1 6d, ; six miatka, El la—
APpay to Ofiaosroa, 49, Jann:4444frai.

LONDON must have a SUPPER and MUSIC
20011 for Gentlemen.—Remember. we welt for you at
•KVANW." after the Covent Garden Opera and the Theateta.

gke eralirtOlS.

TO 0011.117/3PONDENTEI
Advertborasents Mended for "The Express," London Evening
most be at the Mee, 10, DOUVeriO4irOOO, by Two
7.;!= OD the day of publication.

HATMAIKEE
inolua, THE BALANCE OF COMFORT. Mr. Howe &
Mr. Haden. Mil@ Ada eAvendiali, drc. —TR E FAVORITE OF 'OR-
TON& wawa Buckstone Chlppeedsle, mad &Ahern Mrs.
allapeadals, eta—And SHOCKING EFF.NTS. Mr. Oseopten.

TBINCESB'B.
ZYnamill, A LUCKY ULT.—Alter, with WIIIB XL
Loafs, Mr. Charles Kean Martha, Mra Charles Yess.—To
conclude with QUIET LODGINUs.

BRITANNIA.
llVlrrnia, LADY Al' DLE.Y.B SECRET.-The Hungarian
DROODTS. —BEL P R BOOR , THE MOUNTEHANX. Miss Clara St.
Caw, Kra 8. Lane ; Master E. Sanders, Mews. Bigwood, Bite;
Leslie, itc.—And RICli AND POOR.

HIGH WATER AT LONDON ENTOGIL
MO DAY —Yornhmg, Oh. Ons Miasma, Oh. 27=
* Ityltoziow—Norning, Oh. 66m Aftorsock A. Um.

LONDON, MONDAY, JUNE 11.

WHILE affairs in the money market are steadily
though slowly improving, the effects are still
felt of the storm which broke over the commercial

world but a month ago. Another joint-stock bank,
the Agra and Masterman's, has been compelled to

..,
close its doom. The event was not altogether un-
expected, it is true, since for weeks past no esta-
blishment in the kingdom has been so systemati-

ml 4 attacked by the manufacturers of false re-
ports as the Agra Bank. Taking advantage of
the fact that the institution was carrying on ordi-
nary banking business both in London and the
East, lying telegrams of its failure were sent out
to India, with what result we now see. This
falsehood was soon converted into reality. Any one
who knows the East can judge what effect rumours
even in the least degree adverse to individual
credit are certain to create. The pressure that
was brought upon the branches of the bank in
India was necessarily extreme, their credit was

entirely destroyed, and nothing hut the most ample

and immediate assistance could have prevented
their stoppage. The speculators who had chiefly
brought about this digester were quite equal to
use it to the worst effect in London. They have
got their miserable reward. At the expense of a
mass of suffering which will probably exceed that

following the failure of any bank for many
years, they have gained perhaps some few thousand
pounds on the Stock Exchange. It would be idle

to remonstrate with persons capable of exercising
such systematic wickedness. The only remedy is
quick and sharp punishment. It is, however,
extremely difficult in these cases to bring home
the offence to the guilty party. The same
ingenuity that contrives a deliberate and secret
injury of this kind serves also to screen the per-
petrator.

_
We learn that a well-organized effort is being
made to resuaeitate the Consolidated Bank. There

was really no adequate cause why this establish-
ment should have stopped at all. By an ill-
advised arrangement the Consolidated Bank took
over the liabilities in part of the Bank of
London, together with the better portion of the
assets, and, as it was at once seen, exposed them-
selves to legal proceedings from the other and less
favoured creditors. The mere fact, however, of
such a transfer having been effected was quite
sufficient in those days of doubt to shake public
confidence. The result was a run which the bank
was unable to meet. Still its position appears to
have been generally sound, and hence the efforLs
to reinstate the establishment will, it is to
be hoped, prove successful. It is almost
impossible to believe that a joint-stock
bank, founded on a combination of three
flourishing private firms in London and the
country, call with reason have so suddenly col-
lapsed. Doubtless faults of management have
been committed, and notably while the public
mind was bewildered by the disasters of the

last month. For these errors there can be
found some excuse, and also a remedy. It is only
fair to add that without that intimate knowledge
of the affairs of a bank possessed by the directors
and responsible officers alone, an impartial judg-
ment cannot be passed on a course of action which
they may have deemed it right to adopt, especially
at a period that threatened the utter annihilation of
both commercial and banking confidence.
One of the most creditable movements to be re-
corded has been an effort on the part of certain in-
fluential members of the London Stock Exchange
to follow the judicious example set by the stock
brokers of Liverpool. Some of the London brokers
have honourably sought to wipe out the reproach
which is too hastily believed to attach to their
whole body ; that of having lent themselves
in any way to the recent disgraceful speculation
for the fall in the shares of banks and other
monetary institutions. Allowing for the severity
of the crisis, and the unsound financing suddenly
developed by the imminence of war, there can be I
no question that the ruin of the last few weeks
has been materially aggravated by a system of de-
preciation of banking property organized out of
doors, prosecuted by every sinister art that
could be devised, and reflecting inevitably on the
Stock Exchange—that mystery to the public—
where all these oper►tions, e.c necessitate red, are
practically carried out. Like all professions, the
Stock Exchange contains a vast variety of mem-
bers—a very few of bad, some of doubt-
ful, but still more of good repute. It was
quite time that these last—the majority even
in a close corporation, where the whole
transactions depend upon honour alone—should
vindicate their integrity, and give some sign that
they, at least, were not combining with club
gamblers or others, notorious in the City for a life
of gain by means which would make any honest
man blush, to provoke and intensify a panic which
has greatly helped to reduce thousands of families
to absolute poverty. This sign has been made ; but,
unhappily, the Committee of the Stock Exchange
have not been equal to the occasion. Either from
judicial blindness, sheer incapacity, or that wholly
indefensible system of legislation which allows the
members of a governing body to vote upon ques-
tions in which they are personally interested, this
salutary movement has for the time been
frustrated. According to our City Correspon-
dent, the Committee have refused all interference
to arrest these iniquitous transactions by a majo-
rity of three, the utunbers voting being 16 to 12.

" tee, requesting them to take into immediate
" consideration the ' subject of dealing in bank
" shares, it was resolved, ' That it is inexpedient
" to make any alteration in the present mode of
" ' dealing." We would simply ask on what
grounds an intervention, not only claimed in the
interests of the community at large, but advo-
cated by a powerful section of their own
body, is summarily refused without pre-
tence of explanation, on the arbitrary plea that
it is " inexpedient"? If it were possible to pass
within the veil of the temple, it would be
interesting to learn, for the information of the
public, how thin impotent conclusion has been
arrived at. The question remains to be asked
—and we regret it should be asked—whether the
majority voted according to testimony taken from
the members of the establishment they represent,
with the object of arriving at an impartial judgment
upon a state of things which has largely contributed
to a national calamity, or whether, on the other
hand, they sought, by serving particular interests,
to indirectly add to the legion of victims now hope-
lessly ruined by those shameful conspiracies.
Happily for the Stock Exchange, an honourable
minority remains. Twelve members of the Com-
mittee against fifteen have voted for interference.
Besides this, it is announced that a number of the
oldest and most influential members of the house
have decided to hold an early meeting in order to
adopt some plan whereby they may check a
seriously spreading evil, and avert from themselves
unmerited reproach. This step is reassuring, if
only as an honest protest against incapable
or unconsciously biassed jurisdiction. Unless
some protective measures are adopted the cha-
racter of the Stock Exchange must clearly suffer.
The whole body will recognise that the sole
condition on which their close privileges are
tolerated by the public, in an era of free trade, is
that they belong to an institution which claims
public support on the just ground of faithfully
fulfilling its legitimate functions. It is their care
and their interest to maintain this reputation.
Above all things, the error should be avoided
of giving any ground for the charge of an inte-
rested legislation which may be made the
agency of ruin, as it has unquestionably
proved of late. Upon the present point
the remedy is both practicable and easy.
In all cases where a sale of bank or finance
shares is entered into, let it be incumbent on the
seller either to deliver them for cash, or to give, at
all events, the numbers of the shares he holds.
The former plan is undoubtedly the better. Since,
however, the Committee of the Stock Exchange have
refused to legislate in the question in any way,
they must prepare to find that in this and in
other questions their jurisdiction will be super-
seded by the common action of their constituents
generally.

OUR CONTEMPORARIES.

(THIS DAY.)

lIIR TOPICR.

The Daily NM* refers to a case which occurred in the
Court of Queen's Bench a few days since in
illustration of the inevitable difficulties attending the
operation of the extradition treaty with France.
We mast expect the application to the court in the case
of Wideman to be cited as an illustration of the law's
delay in England, and of the consequent " onesidedness
of en extradition treaty between countries, in one of which
the action of the magistrate is so expeditious, and in the
other so dilatory and uncomplying ; and we would gladly
be convinced that the difficulty is one to be cleared away
by negotiations conducted in a spirit of mutual concession,
instead of involving, as we believe it does, the funda-
mental difference of French and English institutions. It
will scarcely be pretended that a country offers impunity
to crime because its magistrates are not prepared to pre-
sume the guilt of the accused from a mere warrant of
arrest, without evidence; nor even in the case of a foreign
bankrupt can the unfavourable fact of his having run away
from his creditors and declined the jurisdiction of his own
country be construed off-hand into proof of criminality.
The Time disputes Lord Overtone's wholesale condem-
nation of limited liability. There are, it says, innumer-
able causes which lead to failure in business from which
no form of partnership is exempt, and which it is there-
fore unjust to consider as springing from the original con.
tract between the partners, and as not being dependent
upon good or bad connexion, ability, superior information,
and all the things which go to make up the idea of a suc-
cessful concern. Anyone would see at once how childish
it would be to impute the failure of a private partnership
to the fact that it was not a joint-stock company. Is it
not equally childish to consider the joint-stock company
with shares of a denomination sufficiently large to pay all
its creditors as leis safe than a company absolutely mi-
-1 ?

The Herald attributes some unworthy motive, some par-
liamentary purpose, to the government, in the non-appear-
ance of the publication of the Jamaica report.
In the Ryves case the Telegraph thinks that no ground
has yet been shown for surmising that Mr.. Rpm* and her
mother were impostors ; there is every appearance of per-
fect sincerity and confidence in the justice of their cause.
A very different opinion of Dr. Wilmot is suggested by
his own conduct. His taste for secret marriages was
abnormal. The activity with which he procured royal
and illustrious persons to sign innumerable documents was
extraordinary and almost incredible. The impression of
the Telegraph is that the lady whom he secretly married
was no princess of Poland, but was an ancestor of Mrs.
Harris, the well-known friend of Sar►h Gamp.

G,

INTELLII

AUSTRALIA. -
mrnala, dated April 45, which have
morning, treat at great length
wernor Darling.

of the recall of his Excellency Sir
received by the February mail, has
aroused _ genera feeling of regret and indignation
throughout the whole country—regret that the Governor
should be so ill-rewarded for his skilful and impartial con-
duct during the unparalleled crisis through which the co-
lony has passed ; and indignation that the imperial autho-
rities should have seen fit to interfere with our own right
of self-government in such a manner as to directly
insult the colonists and ignore the free in-
stitutions of which we have hitherto been so
proud. The telegram announcing the fact was not be-
lieved, and it was not until the despatches were received
by the mail that credence was given to the announcement.
Not only the supporters of the government, but a large pro-
portion of those who have been bitterly opposed to it, con-
cur in thinking that Sir Charles Darling has been most
harshly and unjustly treated. The amicable settlement
of all the disputes which had arisen sufficiently proves
the wisdom of the course which the governor pursued ;
and the only effect his recall will have will be to per-
petuate the feelings of bitterness and animosity be-
tween certain chases of the community, which, but for
this imprudent action of the Home-office, would have
loon subsided. During his stay in the colony Sir
Charles Darling has been placed in several difficult posi-
tions, in all of which he has conducted himself with pru-
dence and judgment. His action with regard to the Con-
federate war-ship Shenandoah was denounced by the same
clique whose slanders have procured his recall ; but the
course he adopted, in all probabity, saved the mother
country from being precipitated into a war with the
United States.
A committee of the Assembly is to be appointed
to inquire into the matter ; and it is intended to
compensate Sir Charles Darling, by a grant, either
to himself or Lady Darling, of 25,0001, The Amiss,
however, says the council will not assent to the
proposition. Sir Charles returns to England by
the ship Lincolnshire, and Brigadier-General Carey
(the commander of the forces in Australia) will
assume the reins of office till Sir Charles Darling's

successor arrives.
The supporters of government had organised a
series of meetings, to express sympathy with the
governor, and a monster assemblage had been held
in the Exhibition building. On April 24, a depu-
tation waited on his Excellency at the Treasury,
for the purpose of presenting him with the memo-
IMI adopted at the meeting referred to. Sir Charles
made the following reply :
Mr. M'Crae and Gentlemen,—l cannot receive the me-
morial which you have just placed in my hands for trans-
mission to her Majesty without offering to you my warm
and heartfelt acknowledgment of your just appreciation
of the course I have pursued throughout the
late political difficulty. I solemnly assure that
large portion of the people who give me credit
for having acted with truth and honesty, and
• single desire to do my duty, that I have
not myself taken, nor co-operated with others in taking,
any step which I did not conscientiously believe to be
within the legal competency of the government to
adopt. I cannot but be sensible that the circum-
stances attending my removal from the government
of Victoria are such as to render it the probable
termination of a course of public service of more
than eighteen years as her Majesty's representative in
several possessions of her crown ; and I pledge myself to
lose no time after my arrival in England, in seeking to
vindicate my administration of that government, by
soliciting • full inquiry into every part of it, through the
medium of a parliamentary committee, unless her Majesty
should be graciously pleased to appoint some other tribunal
for that purpose.
Of the gold fields we have the following report :
The late rains have had a very beneficial influence on I
mining affairs, and our miners are now fully employed.
During the month the returns from the various gold-fields
have been satisfactory, and in many districts the average
yields have been exceeded. One or two discoveries of an
unimportant nature have been made. M'Cullum's
Creek is the locality of one of the discoveries,
and from reports which have come to hand
the new ground is likely to pore valuable. Already a
considerable number of claims have been marked out, and
some of the prospectors have been well rewarded for their
trouble. The Ballarat mines sustain their character for
richness, and operations in that district are being pursued
with great vigour. The fever for speculation is, if anything,
increasing, and prospectuses of new companies are con-
stantly making their appearance. The shares in some of
the established companies have reached very high figures,
and there seems to be unbounded confidence in their
, stability.

(=ma's TELEGRAMS.)
ITALY.

FLORENCE, JUNE 11.

The Opinion states positively that nothing has
yet been decided relative to the modification of the
ministry in the event of war.
Yesterday the Mexican minister presented to
the King a letter from the Emperor Maximilian
conferring the Grand Cross of the Mexican Eagle
upon Prince Humbert.

ARRIVAL OF GARIBALDI.
GENOA, JUNE H.
Garibaldi arrived here last night from Caprera,
and will set out at 5 p.m. to-day direct for Como.

THE OVERLAND MAILS.
BOMBAY MAIL

ALEXANDRIA, JCNE 10.
The Ma/Allis left at 6.30 p.m. to-day. She may
be expected at Marseilles on the 16th or lith inst
OUTWARD CALCUTTA AND CHINA MAILS.
GIBRALTAR, JUNE 10.
The Ripon, from Southampton 4th inst., arrived
at midnight yesterday, and left at 3 a.m. to-day
for Alexandria, all well. She had experienced head
winds.

WEATHER REPORT.-(THIS DAY.

MONDAY, JOJI 11, $ A.Z.

B. T.' W. 17tO
12 1. D. 9.
Nairn
Aberdeen '29.70001 W.S.W. 2 7 • s bc 0.02 2
Leith 123.87 68 W.S.W. 8 6 W. tc. ....8 3
Ardrossan 12087 66 S. 4 5 W. oc 10.24. 3
Greencastle 29.68 55 W.S.W. 8 4 W. ro 10.24' 2
Valentia 29.96631 B.W. 2 6 8.8. W. co 0.22 2
"Ape ,-1 - - - -
Liverpool . 30.04159; W.B.W. 3 5 W.B.W. co 0.171
Holyhead ....30 01 5•41 S.W. 3 6 S.N.W. foc 0.41.8
Penzance 130.16 57, 8.8. W. 4 3 S. co 3
Brest .. '30.201631 B.W. 3, 5 S.W. fc 4
Lorien ,30.20611 H. 214 W. bc I— 1
Rochefort ' 30.24.63 N.N.W. 4 1 N. N.W. be _ 2
Plymouth ,30.17 60 B.W. 21 5 N.W. bc 0.0113
Weymouth 30.16'56 W. 2 . 4 S.W. c 2
Portsmouth 30.1669 W.N.W. 4' 4 W.S.W. c —1 3
London -
Yarmouth —.30.07 58 W. Y. W. j 4 2 8.8. W. be 1
Scarborough. .2x.99 67 W. 12 • 5 B.M. Ico 0.19' 2
Shields 28.06 60 N.W. !4• 2 I &W. ie 2
Helder - • 1 -

2
JOHN BIIOGIDEN'S realisable vaiGOLDand CHAI
the Ztablaiptrola 1
coAnuyictihi:g
ensiors 'manufacturers' pricer The gold In Sae chains Vs-
ramisei. regazahaaad at the crehairhe
How much your chain weighs to 'the utmost eon*
The Anemia of the gold, and charge for fashion."
fa
manufactory, is, Henrietta sheet Covent-Surds
HE EXPRESS, MONDAY
n.
go have ree°l-4, betetr---sisl" and mangSerson the side; ‘ftew.Mhb eat
only proceeded
tisfactory tribunal.
Ipear to have been caaTtle, "fiR euqLs be (Irmo* out of army eff refill* sa
71"
de-
eats
too 411411.-- "rZlitsr regards MA Walpole's to`serike the Met jourru
some to be exercised or ea impfacticable of amity franchise 141. rating 141. natal a• • come to hand this
Aoadon. execution. We cite the terms of their deci- miserable scheme to split the difference between his own of the men of
Goy
luck,
sad
imam
wan,
soups
away.
mow siountio;
Lithe wordingnitimtLeir
of the
„." A requi- proposal which was defeated and that of the government
MIIRTLE, TURTLE, TURTLE. „
froth several ctock Fa. which has been already accepted by the Rouse of ocmt- The Age says :
The intelligence of
BT. JAIIigg.HALL,Ag9piT-sTagrr, PICCADILLY. change hiving been presented to the commit. mons. There is something peculiarly paltry about this Charles Darling,
real
. r . . . herring policy. aroused one genenil