The Express.
London, England, 1856-10-07 00:00:00

LONDON, TUESDAY, OCTOBER 7.

Tun French Bourse is in a state of crisis, which
will probably be aggravated by the news of the
rigid measures adopted yesterday by the Bank of
England. The singular feature amidst this convul-
sion is the vague feeling of expectation now prevail-
ing amongst the frequenters of the Bourse that pro-
jects for the relief of the falling market will shortly be
adopted by the Government. The most carious part
of the affair is that two persons ma scarcely be found
to agree as to what would be the beet palliative of
the existing pressure. Some, of comparatively
moderate views, confine themselves to the hope
that the Government will sanction the postpone-
ment of the remaining instalments on the last loan
of 31,200,0001. According to the terms of sabsorip-
lion, the payments on this loan amount to about
1,660,0001. per month, and will not terminate entil
the 7th of February next. This liability doubtless
constitutes a considerable drain upon the French
money market at the present period, when the calls
for railway and other undertakings, home and
foreign, are heavy. A Inspection of the large
monthly issues of new Rester from the loan would
also tend to relieve the Bourse, which is at present
surcharged with stock. The immense amount of
newly created Renter which is mill held in epees-
leave hands, and the promos of which has
occasioned so serious a depredation of the fends,
would thus have a better cheeps of being gradully
absorbed by the investments of the public. It cannot
be denied that this step to relieve the Bourse would
be a legitimate one; but there is, it is feared, one
grave obstacle—the French Government cannot dis-
pense with the money; or, if it should alatrive
nominally to allow more time to the subscribers to
the loan, it would doubtless be compelled to borrow
from the Bank of France. The Bank, which is
already curtailing its accommodation to the public,
would then be obliged to adopt further steps in
the same direction. As, moreover, the measure
would be merely temporary, and perfeetly in-
operative as a check upon the metallic drain
from which this establishment is now suffering,
we do not me how any great degree of aid mid be
derived by the money market at large from a palli-
ative of this kind.

Other parties of extreme Emulative views, express
a hope that the French Government is seriously en-
tertaining a project for authorising a suspeasion of
cash payment' by the Bank of Frew. Could we
thick this is really the ow we should
indeed deeply deplore what would be the aban-
donment of Francs to &nen, political and
financial, of the worst upset. It is tree that prece-
dent for such a course may be readily paraded, but
the French monetary system now differs essentially
from that of any other epoch. Look at the extent of
liabilities to which the country is committed, both at
home and abroad. Look at the extended foreign
emernerce indicated by the statistics which tho Govern-
meat and its literary retainers display periodically
with so march satisfaetioe. Look, more than all, at
the condition of the labouring population, and at the
general dearness of provisions, at the same time
bearing in mind that die dearness prevails
despite enormous imports of foreign grain,
mmemitated by the partial failure of the
harvest of 1866, and by the inundatious and other
disasters of 1868. la* also, at the failure of the
ilk amp, whisk will divert to Chins a vast mem of
foreign money that ordinarily flows into the pocket
of the French cultivator. Cassias how greatly
aggravated would be the berthas" of the poorer
classes of society were the prim' of the tweesearise of
life to be farther raised, foreign capital to be repelled,
aid all foreign trade checked, by the set of the Oce.
vernessat. To all them and many other evil',
seriously threatening the stability of French inatita-
time, would ensue, we are convinced, from a 'aspen-
*n of sash payment' by the national Bank. These
evils, we feel persuaded, the Rurnaos la net rash
enough to hazard.

Without running through the list of daancial
crotchets new floating in the nothing atmosphere of
gambling Paris, we may yet refer to on more, which,
is forming a kind of needles between two extremes,
seems to have aught the buy of some parties whose
views are ordinarily entitled to rapist. It is urged
that considerable relief might be imparted to the
money market by an he.. by the Bank anew paper,
the principal and interest of which should be gia
untied by the Government, and which should be
reisbursable at par at the expiration of twelve
mamba from the date of nese. Baton may ask.
what would such a scheme amount to but a fresh
creation of Ternary notes or Exchequer Billet It is
probable that by a meanie of this kind the Govern-
ment might be enabled to postpone payment of the
balance of the last loan; but this would be merely
releasing the market from liability with ace hand,
whilst calling for further supplies from another
directios. If the proposed security is to be an
entirely now one, there would also be nearly a or.
tainty that the issue would remain a permanent
incubus upon the market; for, if such paper floated,
the Government would assuredly be in no hurry to
withdraw it, and • rise in the authorised rate of
interest would always enable the Fiona Minister
to make freakiness. The new paper would thee, to
our mind, merely involve a fresh drain epos the money
market, and tend to render the Rena sad ions du
?Vapor lees tempting as a medium of investment.
It is high thee that the French Goverementakould
recognise the realities of the existing nineties, sod,
discarding all financial jugglery, determine to meet
the emergency by the adoption of an moswerviNg
policy of restriction upon specalstive Giessen. What
is it but an excise of speoniation, l•jedisissiy tee-
tered by the Government, that has led to the present
incensing embarrassents P If the oppoeite system
of policy be henceforth followed, we entertain little
doubt that the inexhaustible resources of the nation
would eventually carry it without serious detriment
through the present dieloelties. If the EIIPIIOI de-
ewes the chariots for wisdom and foresight attri.

bated to him by his friends and fiatteren,he will have'
recourse to the needful action without delay. Let him
n•assers the public mind of Europe by intimating
hie intention of rigidly repressing speculative ten-
dencies until the money market shall have tally re-
covered its equilibrium. Let him signify to hungry
capitalists, who, unchecked by the crash at home, are
rushing to even the farther end of Europe for new
concessioos, involving many millions sterling of
capital, and a corresponding drain of gold, that the
energies and the capital of France are already suffi-
ciently taxed. Let him at the same time hint to the
jobbers surrounding the court, that prominence in
Bourse
.speculations will henceforth sot as a
bee to the Imperial favour. Let him, above all,
invite the assistance of the monied public of France
and of Europe, and check the hoarding of the pre-
aim metals which is now going on to a serious ex-
tent amongst hie subject., by authoritatively de-
claring that the prevailing rumours of a forthcoming
financial coup cntat are baseless. It is by measures
of this salutary bearing, and not by fresh issues of
paper, which can only stimulate the deux of gold,
that the existing crisis ought to be met. France
wants specie wherewith to fulfil her engagements to
the foreigner, and not inconvertible notes to make
more counters foe the gamblers of Paris, sad further
to shake confidence both at home and abroad. Above
all, there is need of a check upon that high gam-
blicrhouse, the Credit Mobilier, which has created
so much of the present rain, and which threatens,
whilst enriching its administrators, to undermine the
imperial Institutions whence it unhappily took its
origin.

CO, Court.

BALMORAL, OCT. 6.

The Queen drove out yesterday afternoon. seem-
paatect by the Prunus Royal and attended by the Dasher
of Wellisigton.
His Nightingale arrived at Balmoral yesterday.
Lord Punters likewise arrived at Balmoral sad UMW=
1a atteadanes epos her Majeety.
The royal dimmer potty included the Decks* of Rest,
the Princes Amalie of Holtenloke eshilllnifurst, Prince
Victor of Hohsaloke, Lady Annals Brace, Lard James
Murray, Lord Pusan. sad Yir Nightlagale.

Tho Preach ambassador had as interview with the Karl
of Claroados yesterday at the Forefga-sillee.

A depatatioa hoes the eponatitiao of Swath Asterism
Bondholders, coediting of Messrs. J. D. Pool's, Joe•Ph
Tacker, R. T. Gower, and B. llosatta, had an interview
yesterday with the iarl of Clarendon.

His Royal Highness the Pelmet Wales, attendid
by Colossi Canudiab sod Mr. Gibbs, arrind at Voiles
Royal Hotel, Tsigsnouth, as Tharsday snafu,. Oa Fri-
day,aftar fallowing the tows sad asigbboubood,ths Prises
walked to Torquay, rotundas by teats. Oa Saturday, Mal
Royal Hig►am drove to Manbead, the ant of Sir Lydon'
Nom men, But, who had the basest of eatartaialag tbe I
Primo at lantana ; altar whisk his royal blibane pro-1
ended as his tour.

Viscount Falkland Du loft the fit. Otiorge's Hotel.
Lord Virus has left the mum establishment, tot Sudbury
H.U. Derbyshire.

Viscount Ebrington is about to prcooed on a °ma-
gmata taw. We ate happy to Iwo that hopes ate later-
eased the sight of oaa eye Rey yet be proserved.
Viscount and Viscountess Cioderich have arrived
in tows from a soutissetal toss.

Lord and Lady Ldford have left the Bt. George's
Hotel for Lilford Perk, use Handle. Lord lintinfield
hu loft the sane ostablishnent for Hornbill's" Hell,
&Wolk.

Baron and Baroness Lionel Rothschild and MISS
Hotlto:Mild bays rotamod to tows from Ate la-Cbspollo.
Lady Peal has arrived in Whitehall•gardeae from
Bislieremirs.

Major•Gonfral Sir Geerge and Lady Buller have
left their reddens* in Breton street for Corte.

The Lord Mayor sleet hu nominated the Rev.
Albert AM.., X.A, lecturer et St. H.lea'e, Bishopegate,
sad late mete el St. George% Hanover-nem, to be We
elaplala.

The Lord Lieutenant has appointed Wednesday,
the 22a4 bah, toe the banquet to the Crimean *oldie's Or
hosed Is Inlaid.

Than Is DO truth whatever in the report of Baron
l'ennefether's doatb. Tke following telsgraphie hepatitis
has boon resolved :—"Clossel. Mooday, 1 o'clock. Ma
roped of tko death of Bacon Peasefethar is without low
dation ; he was at chuck bete goats/day, and was i■ pada!
koaltb."

A fortnight ago a M. Meisel. an Austrian lieu-
teems, was shot la a duel by a Pnssisa eater. The latter
oksd him to lot ►im light his sigar at that which he was
mobs,. The nom* was earoded to, bat the Prussian
mensal the sigar so clumsily that be boat M. Meisel%
gagers. The Arida* eater mattered sanethiag about
siasesisso. et which the other tea ogees sad &alleged
his. The shams was roseptea ; the parties. who were
at Graetesberg, erases& the fustier tate Bilesia, sad at the
Int shot Lisatesaat Moist was mortally wovaded In the
hags.
Rossini bee arrived in Paris.

Lord Jobs Ransil wu expected at Turin oa the
3/4, rides the following dry ke mu to be estertaiaed by
the Britli aloister.

An Evangelical Continuo is to west at Berlin oa
the 3nl of sett month, to deliberate woos VelitMe preyed-
tiros coaceralsi rellyiees matters. The eosfereare will
meet at the Soya Palter, wad the King will be repreeeatad
by M. do B.sm, Malabar of Worship.
1

THE BISHOP OF LONDON ELECT.

Dr. Tait, Dam of Catlido, recently appointed to
the bishopric of Loadoo, took his fa:swell of the people of
CuHeft on Beads, afternoon test, when hi preached ii the
eathedsal. Although the weather was solovearobio the
spangle Mike we crowded, mural bulked persona, who
wen unable to obtain seas, beiag obliged to stead la the
skeis sal side skies. The mayor aid corperatka atleadod
la Oa algal sepeolty, a • mark of mast to the Aim
Dr. Taft Within tart frost the 3rd attune of Maleshi, nth
aid 171 k Semi—" This they that hand the Lord spike
Mu in to author: sad the Lied harkened, mad heard
it, sad • hook of ramembrana was valetas before Him for
these that hand the Lea, sad that thought sus His
same. Lad they shall be Mae, lath the Load of Rests is
that day wham I make up my jewels; sad I will spare
them, ea • man openth his ewe sem Mat senoth Ida" The
does began his Omens by referring to may pups of
&Olsten which show the uncertainty of ialividoal position
la this world, as well as of hams. life generally. Re them
ensiled lo his &paktum! as Bishop of Laudon, and
sawed his adieus that ha was deeply impressed
with the great reepoadbillty of that baportaat Mace
sad besought diem Si astiase their prayers on his
behalf as a alalster of gospel; he s/se adverted to
hie rant family bassoonist, and, fa osulselie, eatrested
his beaten to sumrt the night mho* whisk he had esta-
blished for the educatioa of the *Wren of Übe lahossiag
poor—to direct their emetics towards making previa*
for lb. religious Matractlea or pastoral mapervisicia of the
huautreds of poor who ware Mantes of the workhouse la
the sty—cad to gin tints aid in upped of the Clurhtlas
Baden' tiesty. The disoaree, which was both able and
slcqunt, ocupled nearly sa hoer is delivery.
Asa proof of the esteem la which Dr. Taft is bud It may
be sated that a amber of the inhabitants have sobaeribed
the slue of 6001. towards the armies of • monuorisl endow
is the cathedral to the an children whisk he lately lest by
stariathas. During the six years ha has been In Carlisle the
dia. has taken great tamest is the welfare of the eity at
large, having la a gnat measure best las:rmontal la raw
idealist tin 'Modal gramme school, whisk fa many
p—is larayllama. had bees allowed to fall tae daey—la ester
Wishing tits DUMMY Maeda Baciety and the Clank of
leglaad 'altitudes—le Wafts, the restoralfts of the
sathetral—mad L preatotiag ideation unapt the week.
lag dosses lea the iselsacholy anal whiab deprival
the don of lie out of nun WM:ea be has resided ebMy
at laktiadr, tillawater, the eat of W. Mushall,Req.,
ite last Cumberland, and h at roust a gout of G. R.
Boi., of Itiokorby Bow. Ho will Mho kb doper-
Ism Is Lesko to tho wash eta few dogs.