The Express.
London, England, 1860-07-16 00:00:00

THE EXPRESS, MONDAY EVENING, JULY pi, MIOD.

the 7d. in the pound showed a gross apparent re-
turn of 5,608,5481., being much less than a
million sterling a year for every penny of income
taxation ; but now that the possessors of incomes
between 1001. and 1501. are made to contribute
* certain proportion, more than a million flows
into the Exchequer for every penny charged. For
example, in 1857, when the tax upon the larger
incomes was sixteen pence in the pound (but 110.
upon the smaller), the gross amount of duty levied
was nearly seventeen millions; and for 1861 ten
pence in the pound (but 7d. upon the smaller in-
comes) is estimated to yield eleven and a quarter
millions. For the present financial year, although
we are upon good terms with all our neighbours,
we are to pay in income tax only 5,715,0001., or
say one-third, less than in 1857, the most produc-
tive year of all, when 16,915,3321. was wrung
from us in order to rectify the disturbance caused
in the public finances by the Russian war.
And now the charges of the China war
are looming portentously large in the future, sug-
gesting, in addition to a heavy total of taxation, a
public loan. There is thus need that every
fetter be stricken from the limbs of industry, if it
is to be subjected permanently to burdens of this
magnitude, as appears to be only too likely.

7

The shareholders of the Union Bank of London
have held their annual meeting this week, and
have placed on record their satisfaction with the
conduct of their directors and officers under the

circumstances connected with the investigation
into the great frauds. Bye-gorses are to be
bye-goner ; the board and manager are to
receive a new lease of the proprietors' con-
fidence ; and the Union Bank is to start afresh,
with its credit improved by the sifting which its
affairs have undergone, and by the efficacious
system of checks which the world are assured has
been established. There will, of course, be
plenty of minor bickering!'; but now that the admi-
nistration of the bank has made it. peace with the
proprietary, it is generally expected that the
matter will pass away from notice, assum-
ing that the legal view is correct upon
which the directors have based their plan
for dealing with the deficit of POLLING/at% creation.
The shareholders, as a body, declare that they are
content with the position of the bank, under the
circumstances ; that they can confide in the results
of the investigation already made, and that they
do not see the necessity of any additional formal
inquiry. Their view is, doubtless, a purely com-
mercial one. They argue that the sooner the
matter is allowed to drop the better, so far as
their property is concerned. The accuracy of this
view is denoted by the rise which took place in
the price of the shares as soon as it transpired
that there was to bo no further inves-
tigation. It is easy to declaim against
narrow principles of action, but all expe-
rience shows that with shareholders the market
value of their property is a consideration of para-
mount interest. Had there been indications of a
serious decline of public confidence in the bank, it
would have become necessary, as in previous in-
stances, to infuse new blood into the direction, and
to turn the whole system of the bank " inside
" out " for the inspection of the world. But in
the present case there is no apparent necessity for
measures of this trenchant character, the public
having rallied round the bank, and having
actually trusted it with nearly half a mil-
lion more on the 30th of June than on the
31st of December last. The price of the
shares is leas than 4/. lower than it was prio •
to the date of the discovery of the frauds ; and as
41., multiplied by sixty thousand, the number of
shares in the bank, gives a total rather less than
the amount of which it has been robbed, the share-
holders have the more inducement to regard the
whole matter as merely one of pounds, shillings,
and pence, and to reconcile themselves to their
loss as one of the risks attaching to a business
which, upon the whole, has paid them uncommonly
well. We are not saying that this is the best mode
of treating the matter in the sense of the real in-
terests of the public. We are simply attempting
to explain what some people could not understand
—why the Union Bank shareholders received the
report of their directors so calmly, and adopted it
almost with acclamatioo.

trbt cam •
• MOWS, Jura

The Earl of Clarendon and Lady Constance
ViMists arrived yastiortity ou a visit to her Majesty.

In the afternoon her iajecty and the Prima Consort em-
barked in the reyal yacht Fairy, and deemed up die

Southampton Water, accompanied by Prince Leopold,
Princess Helena, Princess Louise, and Prince= Beatrice.
The Berl of Clarendon accompanied the royal party. In
_ _ .

attendance were tho Countess of Caledon, tl;e Hon. Eleanor
Stanley, Major. General the Hon. C. Grey, and Colonel the
Hon. A. Hardinge.
The Prince Consort landed at the new Military Hospital
at Motley.

The dinner party in the evening included the Duchess of
Kent, Princess Alice, Lady A. Bruce, the Earl of Claren-
don and Lady C. Villiess, and the Hon. Sir Charles and
Min Phipps.

du LT 15.

The Queen and Prinoe Consort, accompanied by Princess
Alice and Princess Louisa, drove to Freshwater yesterday
afternoon. The Earl of Clarendon and Lady Constance
Villiers had the honour of accompanying her Majesty.
In attendance were the Countess of Oakdale, the Hon.
Eleanor Stanley, Major-General the Hoe. C. Grey, and
Colonel the Hon. A. Hardinge.
The dinner party included the Duchess of Kent, Princess
Alice, the Earl of Clarendon and Lady C. Villiers, Lady A .
Bruce. Captain and Mrs. F. Sayer, Sir James Clark, the
Rev. 0. Prothero, and Major Elphinstone, R.E.
This morning divine service was performed at Osborne by
the Rev. 0. Prothero. The Queen, the Prince Consort,
the Duchess of Kent, Princess Alice, Prince Arthur,
Princess Helena, and Princess Louisa were present, and the
Ladies and Gentlemen in Waiting.

A Cabinet Council was held on Saturday at the
official residence of the First Lord of theTreuury, in
Downing-street. The Ministers present were Vis-
count Palmerston, the Lord Chancellor, Earl
Granville, the Duke of Argyll, Sir G. C. Lewis,
Lord John Russell, the Right Hon. Sidney Her-
bat, Sir Charles Wood, the Chancellor of the
Exchequer, the Duke of Somerset, the Right Hon.
T. Milner Gibson, Sir George Grey, the Right
Hon. C. P. Villiers, and the Right Hon. Edward
CardwelL

A deputation from the Aseociation for Promoting the
Interests of the Traders of the Port of London had an
interview with the Right Ron. T. Milner Gibson on Satur-
day, at the dike of the Board of Tiede, on the subject
of the Clearance Inwards and Lien for Freight Bill. The
deputation consisted of Mr. J. Locke, M.P., Messrs. Nash,
Fanning, Scoveß, Healey, Barry, W. M. Smith, and Sidney
Smith (secretary).

Lord Raveneworth gave an afternoon party on
Saturday, at Percy's Crow, Fulham.

Lady Llauover had afternoon assemblies on
Wednesday and Friday last, at her mansion in Great Stan-
hope-street, Mayfair.

Viscount and Viscountess Sydney gave a grand
entertainment on Friday evening to their Royal Highnesses
the (hand Duke and Duchess of Mecklenburg Strelitz and
his Royal Highness the Duke of Cambridge. The follow-
ing were invited to meet their royal highnesses :—The
Duke and Duchess of Manchester, his Excellency the
Austrian Minister and the Countess Appooyi, the Earl of
Malmesbury, the Earl of Sandwich, the Earl and Countess
of Tankerville, the Countess Cowley, Viscount and
Viscountess Stratford de Radcliffe, Lady Truro, Dr. Quin,
Colonel Tyrwhitt, kc.

His Royal Highness the Prince Coueort left
Osborne the morning for town, in order to attend the
meeting of the Statistical Congress appointed to assemble
this afternoon.

Her Royal Highness the Duchess of Kent will
remain until the doss of next week at Osborne on a visit
to her Majesty, and shortly afterwards repair to Lauriston
House, the Duke of Sutherland's seat, near Edinburgh, to
pass the autumn.

_
The Duke and Duchess of Marlborough, with
their youthful family, left St. James's-square on Saturday,
for Blenheim Palace, near Woodstock.

The Marquis and Marchioness of Exeter and Lady
Mary Cecil will leave Grasveuorequare to-day far Burghley
House, near Stamford, in order to receive a large party
during the Stamford race meeting.

The Earl of Sefton has entertained a large party
at Croxteth Park, near Liverpool, during the Fast week for
the races. The company included the Countess of Sefton
and Lady Cecilia Molyneux, the Marquis of Hartington,
the Earl Annesley, the Countess Craven and ladies Evelyn
and Blanche Craven, Viscount Canterbury, Lord Howard,
Hon. Henry Forester, Mr. and Lady Mary Craven, Oiptain
and Mrs. Molyneux, Mr. George Payne, Mr. Blackhurne
and Mini Blackburue, Mr. Saville, Miss Gienfell, Mr.
Baldwin, IXe.

The Countess (Dowager) of Westmoreland and
Lady }tom Fane left town a few days since on a tour in
Germany.

The Countess of Dumlonald, who had come to
England to attend Lord 'handmaid in Ma dangerous i"oess,
has now left Loudon for Boulogne. Her ladyship Ms lately
seriously /suffered in her own health.

rattly Howard's soiree dansante, which was to
take place on the 19th inst., is unavoidably postponed, in
consequence of the death of a relation.

The eunaervative electors of Sligo have unani•
monsly agreed to support Mr. Francis Mitodonagh, Q.C., as
a candidate tor the seat about to be vacated by the Right
Hon. J. Wynne, M.P. The other candidate on the con-
servative interest, Major Foßiott, has retired. No liberal
has yet announced his intention of soliciting the suffrages of
the electors, and it is stated by the conservatives that, in
the event of a contest, their candidate will succeed by a
majority of at least 15. There am about MO electors on
the registry.

His Grace the Duke of Argyll has consented to
molds at the annual meeting of the Lancashire and
assehlre Association of 120 Mechanics' Institutes, to be
held in the Free Trade Hall, Manchester, in the ensuing
autumn, and to distribute prizes and certificates to the can-
didates who successfully competed in the recent examina-
tions of 2,500 adult male and female members attending
night schools in these mechanics' institutions.

Mr. J. N. Dupuis, now Vice-Consul at Naples,
is appointed her Majesty's Consul at Poti, in the Black Se►
Mr. George E. Stanley, now Vice-Consul at Jed-
dah, is appointed consul at that port.
We took occasion, a few days ago, to call the
attendee and appeal to the support of the public, in behalf
of the Indies' Garibaldi Benevolent Association, for the
relief of the sick and wounded, the widows and orphans of
Garibeldes followers, and of the sufferers at Palermo and
other places—an association of which the Countess of
Shaftesbury is lady president, assisted by a committee of
twelve ladies. We have great pleasure in stating that the
subscriptions already received for the objects of the sago-
e ation evince a great and growing sympathy with its phi-
lanthropic purpose. A medical man of eminence, who
leaves London in the course of the present week for Pa-
lermo for objects akin to those contemplated by the associa-
tion, will always be in direct correspondence with the
soaimittee. The choice of the proper agents for the distri-
bution of the money transmitted will be made by General
Garibaldi himself, both for the relief of the sick and
wounded amongst his own followers, and for the aid to
be given to the poor sufferers at Palermo, who have lost
their all in the bombardment by the Neapolitan troops

Madiuue Emilio Zulaysky Kossuth died on the
29th ell., at her residence in Brooklyn, New York,
aged 43 years. Madams &lanky was • sister of Louis
Kossuth, and bad been in the United States since the
memorable visit of the distinguished Hunguisti exile.

The Japanese Ernbaasitook their final departure
from the United States on the 30th ult., in the frigate
_ _

The Great Eastern, having been cleaned and
renovated, wee opened for public exhibition on the 3rd duly,
and was visited by 1,500 persons, the price of admission
being one dollar.
Tun Was ix Cnitta..—The estimate of the sum
which will be required to defray the charge of a grant to
the officers, sauna, and marines employed in the late naval
operations is Ohlaa, mom& to 33,0001.
THE ESCSOACESINE ON KILERINGTON GARDENS.
—At the meeting of the repreeentatiee council of the perish
of Marylebune, on Saturday, the follow+ring resolution was
unanimously carried ;—" That this vestry desires to express
its dissatisfaction at the attempt which has been made to
form an equestrian ride in Kensingtoivganlens, since, in Se
present condition, it le peculiarly adapted, and. would other,
wise be tepsoiallydsagenrae, to the earn:oft and conve-
nience of children, meals* and pedestrians generally."

LATEST INTELLIGENOIII
SICILY.
EXPULSION OF M. LA FARINA FROM
PALERMO.
TWO MORE STEAMERS GONE OVER TO
GARIBALDI.
PALERMO (via Itmumittes), JULY 10.
The official journal publishes the following note :
" On Saturday Signori La Farina, Griselli, and
Totti were removed from Palermo by order of the
Dictator.
" Griselli and Totti are Corsicans affiliated to
the police of the Continent. The three were ex-
pelled
for having conspired against order.
"The government which watches over public
tranquillity could not tolerate the presence of such
individuals."
Another note says :
"The National Society, whose resources have
been reduced since Garibaldi declined the presi-
dency, has been rather a hindrance than an assist-
ance to the Sicilian cause."

PALERMO, Jocr 12.
The two veasehi which have panted over to Gari-
baldi are mercantile st43amera.

Laioggia, Laporte, and Orsini remain in the
ministry.
The state of things in Sicily inspires confidence.

The Opinion Nationale gives the following version
of the causes which led to the expulsion of M. La
Farinafrom Sicily. bi La Farina bad full powers
from the ,Sardinian government to assume the title
of Royal Commissary as soon as the annexation to
Sardinia was declared. Garibaldi, while advocating
the annexation, thinks it advisable that his own
dictatorship should continue until the whole island
is subdued. Finding that the presence of La Farina
was detrimental to the cause, he ordered him off.
A letter from Turin, dated the 13th of July,
, says :

I have collected the following details respecting the ex-
radon of N. La Farina from Palermo. The order of
expiation came from General Garibaldi himself. It was
presented to the President of the National Committee (IL
1* Farina) about half-past 11 at night, on the 7th. The
Sicilian government was not apprised of the step. Y. La
Farina was only allowed half an hour to make his prepara-
tions for departure. He asked for a boat from Admiral
Penano, who commands the Sardinian squadron, and pro-
ceeded on board the Admiral's ship. He was accompanied
by the chief of the police of Palermo, and by an officer of
high rank, who commanded the detachment that surrounded
his house. K. La Farina, on his arrival here, immediately
waited upon Count Cavour.

FIGHTING NEAR MESSINA.
PALERMO (via ILtaemisa), Jinx 9.
Sanguinary combats have taken place near Mes-
sina between the Neapolitan Colonel Bosco and the
advanced guard of the Sicilian army.
General Coseuz has brought 1,000,000 lire and
57 cannons to Garibaldi.
Admiral Mundy has left for Naples.
There are scarcely any but Sardinian vessels in
the roads of Palermo.
Garibaldi has ordered the assassin of Colonel
Puglisi to be arrested.

NAPLES.
FORMATION OF A NEW MINISTRY.
(BT BUBMAJUITZ TELEGRAPH.)
(FEW OUR ORM 00ERESPONDICIT.)

NAPLES, SATURDAY.

It is said that a strong and compact Ministry
will be immediately formed, to carry out to their
full extent the principles of constitutional govern-
ment, and to watch over the interests of the
nation.

MARSEILLES, JULY 15.
lAgreocs, a Neapolitan minister, has arrived here
and left for Paris.
The day before yesterday the kingdom of Naples
was tranquil.

THE PAPAL STATES.
RO3IF, JULY 13.

A secret consistory was held this morning, in
which it is stated that the Pope pronounced an
allocution against the evil attempts, the violence,
the arrests, and condemnations to which the priests
were subjected in the Romagna and the Duchies.

ROME (vm MAabouLLts), JULY 10.

No other disturbances have taken place in the
Umbrian Marches but at Todi, where the Sardinian
escutcheon had been erected and tri-coloured flak;
hoisted.

A detachment of pontifical troops arrived there,
and imposed a fine on the commune, to be, how-
ever, reimbursed by the rioters.
Cardinal Wiseman's illness has become more
serious.

...':.y

preduea wonderfully little effect although there
was a rumour that the liberal Neapolitan minis-
19x haer. resigned, and $ general feeling was pre-
valent that next week bill not peas over without
momentous events in Italy. The fluctuations in the
Bente only ranged between 69.20 and 68.86. The
closing price for cash was that of yesterday, 69.10,
and for account 69.5, being a fall of 10c. Credit
Mobiliir, after having been very energetically
supported, experienced a fall of 7.50. Railways
were on the whole better. Southern and Western
rose 3.75 each, and Northern and Orleans 1.25
each. Lyons fell 1.25, and Eastern was without
change. As has been the case all the week the
amount of business done was very small.