The Express.
London, England, 1866-04-23 00:00:00

many of these statements, and that without that
help they would at once have been received with
incredulity. A greater fault could hardly be com-
mitted than that of giving, even indirectly, any
ground for suspicion. A joint-stock bank may
'Genre a handsome temporary profit by putting
its name to a prospectus, but in the long rim its
reputation is sure to suffer. Speculative banking
of this sort is distasteful to the public, and calcu-
lated to weaken the confidence of the ordinary
customer.
The late collapse in the share markets may at
least be productive of one good result. The
temptation held out by the quoting of high pre-
miums has frequently induced persona of insuffi-
cient means to take up shares upon which they are
unable to pay, trusting to resell them at a profit.
The announcement of a call brings at once a num-
ber of these securities on the market, with the
necessary consequence of causing a heavy decline
in the price. It is evident, however, that by
degrees these are passing into the hands of per-
manent investors, who look to the ultimate and
substantial value of their securities in pre-
ference to depending upon the mere quo-
tation of the day. It will be no small
advantage to joint-stock enterprise to be freed
from at least one kind of speculative influence.
Nothing can be more unfair than fora bona fide
shareholder to find that his oopartners either
cannot or will not pay the calls which are essen-
tial for the success of their joint undertaking,
but which he is ready, for his part, to meet. It
is to be hoped that this class of proprietors will
be thoroughly weeded out, and that their place
will be occupied by others who have both the
power and the will to meet their just obligations.
In another point also much benefit may be done.
A great rise or fall in the shares of a company,
especially the latter, tends to draw closer
the relations between directors and ordinary
shareholders. It does not follow that
they will be necessarily of a more
amiable character, the reverse may often be pre-
dicated, but that the common bond of interest will
be more strongly felt. Mutual confidence becomes
a greater necessity, and is less grudgingly accorded
than in ordinary times. Nothing, in fact, can be
more suicidal than for a body of proprietors at the
first breath of misfortune to discard the services
of men who have made themselves fully conver-
sant with the general affairs of a company, and
whose experience at a critical period is of the last
importance. On the other hand, directors will do
well to bear in mind that, valuable as their ser-
vices may be, they are but the servants of the com-
pany, trusted and honoured perhaps, but still
having no power beyond that which is tem-
porarily delegated for their exercise. The
essential question in these cases is, that'
trust should be mutually given. It often happens
that shareholders are asked to confide in their
directors, but the converse more rarely occurs.
One thing certain, however, is, that on the one
hand no one of character and standing will accept
a seat on a board unless he is accorded full confi-
dence, and that on the other, shareholders are
making up their minds to give it to those who
only fully merit the trust. If this feeling should
gradually spread, its value will be far greater than
any loss the depreciation of shams in the market
can possibly cause.

et rearm is a reduction of the borough fleimffidis, which is
just the solitary concession that their rivals are bound net
to grant, it is impossible that a settlement osa be arrived
at.
The Post has another article lavishing eulogy on the
late Lord Palmerston, whose various characteristics are
spin defined and extolled, chiefly with the object of
showing how great is the contrast presented by Mr.
Gladstone, who wants all the qualities which en-
abled the deceased premier to win the confidence
and conviction of the house. The Post believes
that in the depths of the feeling expressed against this
bill there lurks a sense of wrong done to the memory of
Lord Palmerston by its introduction at so early a period
after his death. And all those who revere his memory
should express their feeling by practically upholding his
well-known opinions.
The Herald goes back over the various speeches in the
debate, with the object of showing that the nominal
defenders of the bill have only succeeded in exhibiting its
absurdities, and that while their speeches are characterised
by vagueness and bombast, those en the other side have
been conspicuous for clearness of purpose and cogency of
reasoning. What wonder if the thirty-five of Monday
dwindled to the twenty-five of Friday, the fifteen of Satur-
day, the eight of Tuesday, the none at all at the conclu-
sion of the week Alas ! that that dumb majority had
not also been deaf.
It is almost a matter of indifference to the Telegraph
how the division may go. In many ways the cause of re-
form would profit should the ministry be defeated, or re-
esive insufficient support. The question is not whether
the present parliament approves the bill, though Lord
Echo and Mr. Dorman ridiculously talk as if
it were ; the question is, " Does the country
approve it ?'—the country of which parliament is merely
the gag when it ceases to be the mouthpiece. The tories
are perfectly right in telling us that reform was not the
paramount thought when the existing parliament was
elected. But to-day reform is the paramount thought,
and the proposals of the bill justly express the moderate
desire of the people. If parliament afSrm as much, then,
indeed, we shall know that the measure must be very mo-
derate ; if not, the ministers must fall back upon the
country, and the country, we think, will spare a good
many sitting members the trouble of taking part in the
next series of debates upon this particular subject.
The Star continues to battle for reform, addressing itself
in one article to the arguments of Lord Stanley's speech,
and in another to the " peculiar theories of the deep-
thinking liberals."

OUR CONTEMPORARIES.

(THIS DAY.)

MISCELLANEOUS TOPICS.
The Time, sees the distinction between the Civil
Rights Bill and the Freedmen's Bureau Bill. In vetoing
the former the President virtually disputed the oompe-
tence of Congress to prescribe the terms upon which the
seceding States shall be allowed to resume their place in
the MID/OIL There is reason to believe, the Times thinks,
that President Johnson has lost influence by his almost
fanatical advocacy of state rights. It is a remarkable
fact that some of those who voted against the Civil Rights
Bill, in the Senate and House of Representatives, did so
in opposition to the instructions of their constituents.
Coupled with the decisive majority in the lower house,
this indicates a certain reaction in favour of the radical
counsels, and prepares us for concession or at least con-
ciliation, on the part of the President. If only the South
would now freely admit the blacks to civil equality they
would virtually reduce the obnoxious act to a dead letter,
and greatly strengthen the conservative policy of the
President.
The Telegraph represents the President as fighting
single-handed, on behalf of the conquered and unrepre-
sented South, in opposition to the two houses of Congress,
within whose walls Northern influence is paramount.
Within the last fortnight the public feeling of the North
has been turning against Mr. Johnson, and his impeach-
ment by the Congress is not improbable. At all events,
of one fact we, in England, may rest confidently assured.
The internal difficulties of the United States are too great
and deep-seated to admit of such American sympathy and
co-operation for the Fenian, as would suffice to kindle a
war between England and her Transatlantic kinsmen.
The Times again brings before the public the capability
of the Chief Justice of the Queen's Bench in Ireland, who
is 90 years of age, to perform efficiently the arduous and
complicated duties of • judge. There is no analogy be-
tween his case and that of Lord Lyndhurst. The latter on
the very night on which he entered his ninetieth year,
astonished the House of Lords by a speech of incomparable
clearness and ability, but he was not called upon to repeat
this effort day after day in the way of regular duty. He
had retired from the routine of official labour. His intel-
lect remained unclouded ; but he did not tax his faculties
with the demands of every-day toil. The true question is
not whether Chief Justice Lefroy could or could not, upon
an occasion, reproduce the energies of his youth and
prime, but whether, at the age of ninety, he can be ex-
pected to make this display continuously and without
intermission in the discharge of his official functions. The
real question is not whether the Chief Justices a good
.onagenarian judge, but whether he is a good judge
absolutely.
The Past sees in the report of the Ecclesiastical Commis.
sioners just published evidence of real progress in the
better administration of church revenues. Four years ago
the commissioners proposed to raise the endowment of all
livings in public patronage, having a population of
10,000 souls, to 3001. • year. The year following they were
able to do the same for livings with • population of 8,000.
Last year those with 6,000 were added to the list ; and this
year those of 5,000 will be admitted within the operation of
this scheme. Altogether withir. the last five years nearly
one thousand livings will have been raised to 3001., besides
about eight hundred which have been aided by grants to
meet private benefactions. This represents a considerable
improvement in the circumstances of some 1,800 clergy.
men, and though 3001. is still but • sorry income for the
rector of a large parish, it is an immense improvement
upon the previous rate of payment. There is no reason to
doubt that in another year, or at most two years, a similar
service may be rendered to incumbents of parishes with
4,000 souls, and so progressively until 300/. a year will be
the minimum pay for all clergymen having in charge more
than 1,000 persons. Even when this is done there will be
an immense number of small country parishes very miser-
me I ably endowed.

•

Court.

THE ..EXPRESS, MONDAY EVENING, APRIL 23, 1866.

OSBORNE, Ana 21.
The Queen, socompuned by Princess Louise,
Prince Leopold, and Prince Christian of Schleswig-Hol-
stein, walked in the grounds yesterday morning, and drove
out in the afternoon accompanied by Princess Helena and
Prince Christian, and attended by Lady Augusta Stanley,
Major-General the Hon. A. Hood was in attendance upon
horseback.
Prince Teck arrived at Osborne yesterday.
Prince and Princess Leiningen and Prince Tech dined
with the Queen and the Royal family.
The ladies and gentlemen in waiting had the honour of
joining the Royal circle after dinner.

APRIL 22.
The Queen, accompanied by Princess Helena, Prince
Christian of Schleswig-Holstein, and Prince Tack, walked
in the pounds yesterday morning, and her Majesty, ac-
companied by Princess Louise, drove in the grounds in the
afternoon.
Prince Teck returned to London in the afternoon.
Earl and Countess Granville arrived at Osborne yester-
day, and had the honour of dining with the Queen and
Royal Family.

A Cabinet Council was held on Saturday, at the
official residence of the First Lord of the Treasury
in Downing-street. The ministers present were
the Lord Chancellor, Earl Granville, the Duke of
Argyll, Sir George Grey, the Earl of Clarendon, the
Right Hon. Edward Cardwell, the Marquis of
Hartington, Earl de Grey, the Chancellor of the
Exchequer, the Duke of Somerset, the Right Hon.
T. Milner Gibson, Lord Stanley of Alderley, the
Right Hon. G. J. Goschen, and the Right Hon.
C. P. Villiers.

A Committee of the Lords of her Majesty's Most Honour.
able Privy Council eat on Saturday, in the Council
Chamber, Whitehall, upon the subject of the cattle plague.
The lords present were the Lord President, the Right Hon.
Sir George Grey, the Right Hon. T. Milner Gibson, and
the Right Hon. H. A. Bruce. Colonel Harness, R.E., Mr•
Helps (the clerk of the Council), and Mr. Harrison (the
deputy clerk) attended the committee.
A deputation of railway managers, consisting of Mr.
Cawkwell (London and North-Western), Mr. Allport
(Midland), Mr. Grierson (Great Western), Mr. Clarke
(Great Northern), Mr. Eborall (South Eastern), Mr. Scott
(South-Western),and Mr. Smithetts (Lancashire and York-
shire), had an interview with the Right Hon. T. M. Gibson,
M.P., at the office of the Board of Trade on Saturday,
upon the subject of the Order in Council recently issued as
to the transit of cattle by railway. The deputation was
introduced by Mr. Helps, Clerk of the Council.
Despatches were sent on Saturday from the Colonial-
office to the Governor of Canada.

Her Majesty is about to place a memorial window
to her father, the Duke of Kent, in the parish church of
Sidmcuth, the town where his royal highness died• In
the window there is a representation of our Lord in Glory,
seated with orb and sceptre in hand, surrounded by angels.
Below are four angels holding crowns and palm branches.
There is also a representation of Christ blessing little
children. On each side of this are designs symbolical of
Christian charity. Below are representations of five of the

acts of St. Nicholas.
The Chancellor of the Exchequer, accompanied
by Mrs. Gladstone, left town after the Cabinet Council on
Saturday for Cliveden, the Duchess Dowager of Suther-
land's seat, near Maidenhead, to pass two nights. Mrs.
Gliulstone will have an assembly on Wednesday, the 2nd
proximo.
The Chief Secretary for Ireland and Frances
Countess Waldegrave entertained a distinguished circle at
dinner on Saturday evening ►t their residence in Carlton-
gardens. Later in the evening the countess had an assem-
bly, which was largely attended by the members of the
Corps Diplomatique and members of both houses of
parliament.
The Marquis and Marchioness of Lansdowne
have left their residence in Berkeley-square for Bowood,
Wilts, for a few days.
Viscount and Viscountess Cranborne entertained
Lord and Lady Burghley, Hon. Reginald C. Abbott, Mr.
and Lady Violet Greville, Mr. and Lady Mildred Beres-
ford-Hope, Mr. and Lady Charlotte Schreiber, &c., at
dinner on Saturday evening, at their residence in Mansfield-
street, Cavendish-square. Later in the evening Viscountess
Cranborne received a small and early party.
Lord and Lady Egerton of Tatton entertained
•

LATES'

the following company at dinner on Saturday evening, in
their residence in St. James's-square—His Excellency the
Italian Minister, the Duchess of Cleveland,theMarchioneas
of Ormonde, the Earl and Countess Amherst and Lady
Constance Amherst, Lord Bodes&le, Lord and Lady Hen.
niker and Hon. Miss Henniker, Colonel the Hon. Strange
and Mrs. Jocelyn, Hon. R. SeckvilleWest, Sir Thomas and
Lady Cochrane, Sir John Boileau, Mr. and Lady Susan
Milbank, Mr. J. Milne Gaskell, M.P., Mr. Christopher
Sykes, M.P., Mr. Drummond, &c.
Sir John and Lady Johnstone received the Arch-
bishop of Canterbury and Miss Longley, the Right Hon.
Edward Cardwell, M.P., and Mrs. Cardwell, the Attorney-
General and Lady Laura Palmer, Sir Henry and Lady Raw.
linson, Hon. Charles Wood, Mr. Thomas Baring, M.P.,
Mr. W. H. Gladstone, M.P., Mr. and Hon. Mrs. Gran-
ville Vernon, Mr. and Mrs. Dent, and Miss E. Harcourt
at dinner on Saturday evening at their residence in Bel-
grave-square.
Mrs. Milner Gibson, who is at present in Paris,
has been attacked, while attending her daughter, with the
measles, but is now progressing favourably.
Mdlle. Lucca's next part at Covent Garden is to
be Leonora, in La Favarita, her first appearance in that
opera (announced for Thursday). To-night she repeats
Margaret. To-morrow night, Martha will introduce the
young and promising Mdlle. Orgeni, in a third character.
Meanwhile there is no little talk about Madame Maria de
Wilds.
A great novelty has just been introduced by one
of the leading Dublin hospitals. The managers of St.
Vincent's Hospital, Stephen's-green, have purchased the
splendid residence known as Lyndon Castle, Blackrock,
for the purpose of converting it into a sanatorium to which
they will send the convalescent patients to enjoy the bene-
fit of the country air, sea-bathing,fic.,previous to returning
to their homes.
An important will case was commenced in the
Probate Court, Dublin, on Saturday. It is a suit to esta-
blish the will of the late Miss Margaret Ellen Murphy,
daughter of the celebrated Smithfield salesmaster, " Billy"
Murphy, who died in 1849, and left 102,7001. in legacies.
The will of Miss Murphy is disputed on the alleged ground
of undue influence used by the plaintiffs and the Rev.
Eustace Murphy, a Dominican, who was her spiritual
director, and had been the intimate friend of her father.
Mr. Brewster, Q.C., stated the case at considerable length.
It will be resumed to-day, and will probably last all the
week.
The land purchased for Finsbury-park is 120
acres; the price paid for this land by the Metropolitan
Board is 54,0001.; laying out the park, inclosing, drains,
lac., will cost about 10,0001. in addition.
The estates of The O'Donoghue in the counties of
Cork and Rerry were put up for sale on Friday in the
Landed Estates Court. He was himself the petitioner,
and his object was to discharge his debts, which are said
to amount to about 12.0001. Five lots were sold, pro-
ducing 7,3151. The rude of the sixth lot was postponed on
the application of Mr. V. B. Dillon, in order that it might
be purchased for the owner. The generous effort of The
O'Donoghue's tenantry to raise a fund sufficient to pur-
chase his estates for him appears to have proved a failure.
Mr. James Acland states from " personal know-
ledge" that Sir Robert Clifton has not been arrested, as
stated in the House of Commons, and that he has not fled
his country, as stated on Saturday.
A wonderful aquarium is springing up at Bou-
logne under the eye and direction of M. Edouard Beten-
court, also a Boulogne artist, with almost volcanic ra-
pactity, and certainly assuming a volcanic appearance. The
extreme altitude of the rocks will be about 7018. above
the level of the plateau, and the caverns underneath will
have at least 12ft. to 14ft. headway, wherein will be a
series of reservoirs, into which sun and air are admitted
through admirably-conceived Smarm, and in which speci-
mens of fish, molluscs, crustacea, Sze., the produce of the
Channel and the Mediterranean, will be found.
Mr. A. Gollan has been appointed her Majesty's
consul at Coquimbo. Mr. G. Lenox Couyugham, jun.,
now third secretary, has bees promoted to be second macre-
story at Rio Janeiro.

4

FENCE.

THE GERMAN DIFFICULTY.
The Frankfort correspondent of the inckpaidaeice
says :
" We have a temporary respite ; the status quo ante will
be established, but this compromise does not terminate
the conflict. The impossibility of effecting a reform of
the confederation will soon be demonstrated, end on
this anticipated result taking plass, the Prussian Minister
will advise the King to withdraw from the Confederation,
while at the same time maintaining his right to guard the
Federal fortresses. Upon this point, the question of war
will inevitably reappear from to-day to to-morrow.
It is evident that, ceasing to be a member of the con-
federation, Prairie will have no right to cateupy the
federal fortresses of Luxemburg, Mayence, Bastadt, or the
seat of the Diet, Frankfort. Bat it is certain that Prussia
will refuse to abandon these fortresses, and then
the question will arise, what will Austria and the States
that shall remain faithful to the Band do? The secession
of Prussia, therefore, from the German Diet would be
fraught with the most serious consequences. Prairie boo
many times made this menace, and not without effect.
Whether it will have the same effect now remains to be
seen, but Prussia is resolved to take advantaie of the
`”ation.