The Express.
London, England, 1850-10-28 00:00:00

Eke erprefso.

OUTGOING ILIUM
Ti• sails for noleire, Ilea Mobs, ead K Timid
(Gip de Wide), Sons losse, sod Asesseiss, will be made
II
lbsweibs"Sig °ifs OrMetissberNerslAmeilis,l. EINIMMIN aid the
Vaal Bison will to mode so, per Preatals„. is isto
semileis el Nev. I ; sod see 0 Postbag," oa the eves*/
di Nev. Nee. .
Ile sidle tw We will be mole as as 2.
ne sob do the West I .dise, Wassails, New Grenade,
eigrows, onto sees esiukov.2
The node Iler Iledel% dr awl bosses 4yrie,
be orbs ess IS Nov.
The .e 11... lakes. 114915. tad (Mosher wd9 b. gra.
sp es Nov. 7.
The wells via Yerseillis. to the Ideditivoutess,
Ceylon, WO, How teas, &a, will be made op ea the
ovisisi el Nov. 7.
T.... 11. IPar Nevessels, Headers.. Nesess, sd hood,
clau, sad Pen, will be wed* up is NOW. 17.
ne was Ow (Mistier, Makes, Gram, the lambi
bit=Copyloa, CM.a. eleadisispen.idi%t
up ea the evoking el Nov. 20.

marm•—is tbi balm Mbt• at Y••y M Mrs MYNA
visit W Wyk, M• maw *Mb t• tar= 11111 Pei
.ditb• Trims% •bk" ma • =MOM 110
MOW' M. TM writer ms very br bon ~War •
est" to Priase•lbbt la villtbe tb• brim& My.

•
ins WATER AT miaow veinal.
Tsp. MA-IlosEs. 11... Ea lifsawsma /1.145.
11,Nrom-isprans, U. les Sawsea. Si. Wm

LONDON. MONDAY, OCTOBER 28.

He cannot at the maim time eweertemperel Espy to
the QUO'S el Epokuno.
brush Oaribel Wismar
bus sle lISIS el the am
be wbidi tried p=
suss mod dl do
mkt lbst tLir, •••
b du paw obeli be P-
AS bee absmabse
Wereure appiduasst,
boy mew quitirs,
sr re do courts at law,

Wigs am to that importeat subject. the law of part-
ta
By the ems= beer, say participation
mete amiltates a parries/skits eel creates as en&
idled respeatibility by all the partners. It would sot be
difficult ter "hew thia eves la reveal el private part.
tenhipe this rale weal admit of demonism
molt-
(faatise; bat as ear remaeks have loseaselly di- I
noted es "ask memiseiess as are mew no the t
provisions el the Jekt Utak Begiir, and as
the remising asnieWse es alteralkes et that set has
been reported is Ike Bow af Osmani, we shall son-
fine ear observations to joiatnteek sempanies, and to
the epees which justify or require a Baited reeve-
sibility by members of mask siessiatiene
The Wet reseons in favour al the t state of
the law appear to be, its bessiniel lealmasy on public i
grounds in restraining epesaledea tied its nullity to
protect the rights of erudite's. The first of these i
Sbis delusive—unlimited relissaibility may, at
t. appear likely to ipasalaties sad to
hem adventures al risk*see win amid not
eseassisatly beer the nameasseses et killer% bat it
heeled the very conyery Wrist. Onierthess=
' whim k vie nearly teopoosible to sabres
semegeflhe members of a oospeny, eves asp meibis
pardse traded for immunity egoism the comemmesee
of unlimited reepoosibility to a few good zanies
among the shareholders, who wield, as they believed,
become in case of need the scarp, of the rest; and
ahlungh the Wilding-up Companies Act has, in some
measure, remedied this evil, still the risk and re-
sponsibility of membership is increased is pro-
portion to the solvency of the shareholder. To the
sums speculator the extent of his responsibility is a
matter of perfect indifference, and therefore unli-
mited stsfplesibility, so far from checking specula-
Lima, eon bare no other effect than to restrain from
joist-stock undertakings the eolvent and the racket,
who object to bs exposed to a risk oat of all proper-
den to the interest which they may take or the ad-
vantages which can accrue to them.
Bat it may be said that a restriction of the In-
balky of joint-stock shareholders would be unfair to
weditors. We pass by the obvious answer, that the
dealings of creditors will be based epos a know-
ledge of such restriction, and affirm that the
operation of the present law is to give an
unfair advantage to creditors. In dealing with
a private trader or partnership the creditor has
no certain ksowledge of the bored, tde capital pos-
sessed, and even if he happen to know at any given
period that a large end adequate capital is invested in
the trade, be has no assurance that ft may not be
expended or absorbed in some private extravagance
or unsuccessful speculation distinct from the under-
taking in which it ought to be legitimately employed,
and therefore the credit given to a private partner-
ship I. In fret accorded rather to the personal cha-
racter and business-like conduct of the partners,
than to an accurate knowledge of their re-
sources; sad thus the unlimited responsibility 'of
the trader naterially assists his operation by the
sesureme dim given that any nodes risk or mares
of dealiag,er trifling with credit, most be stated by
an entire saurian of his property. Ignorance of the
precise eirensostssees of his debtor generates emotion
and cireurgastioe on the part of the ere-itor, while
a know ci the large extent of his liability is an
additional ledecentent to prudence by the trader. But
in joint-steak partnerships these conditions do not
exist. Thum the actual amount of capital to be pro-
vided is known, its sufficiency can be calculated, and'
its very application can be almost observed. It eta-
not be lessened by losses on the turf, or bad luck at the
gaming table. It may be wastefory expended, yet still
at the pallet the personal liability of the directors it must
be expended on the undertaking for which it is agreed
to be provided. Bet,ia addition to the protec ion afforded
by the senesces of the expenditure of a certain amount
of capital, the creditor dealing with a joint stock com-
pany is at the name time relieved from any need for
circumspection, sails tempted, as it were, to a reck-
less credit by the knowle hat without reference
to the number of their shares or the extent at their

Tint seal of the neophyte is proverbially indiscreet,
and some of oar coetemporarses, in their ardour to
punish the presumptuous pontiff, so late the object of
their absilutist sympathies, have overlooked the dif-
ficulties which the laws of this land of freemen
oppose in the way of their anreflecting ressetment.
The nines and Chronicle are at fault if they suppose
that when Pros TX. or Cardinal WISEMAN some
within thajerieffiction of the Old Bailey, they sea
he smelted by any indictment at I.:o=set of Ilse
=advised and hasty movement of ambition
which has stirred the wrath of Englishmen so
obesely. We ds not mean to deny that an
eager jdge, aided by an exasperated Jeri, might not
se strain the letter of the penal code, as to bring upon
his eminence the Cardinal Arebbabep and his
abettors the natural consequnees of their imprudamt
contempt of public feeling, or at least to maU their
position exceedingly unpleasant, But Heaven forbid
that for this or any purpose our courts of Janice
Auld, at this time of day, revert to the evil pews,
dents of judicial example set them by the Emus"-
20001111 and NORISURTS of the past generation, or
their predecessors and models of the STUART time
It appears to as tolerably clear that, deplorable and
blameable es the late proceeding of the sovereign
pontiff (acting, we blush to my, under English sun-
red) undoubtedly is, it has not bean directly and
essentially illegal. In other words, the mere crea-
tion of an Archbishopric of WESTMINSTER, having
viruses, jurisdiction over the Roman catholic, of
England, although coupled with the gift of a cardi-
nal's hat to the first metropolitan of that province, is
act an set beyond the measure of the liberty granted
to the charth of Rome by the legislates, of this
kingdom. We do not on that account condemn the
less the short-sighted policy which dictated the pro-
(seeding, or the offensive style in which it is carried
oat; nor are we blind to the fact that the papal re-
script most ungraciously. avoids *writhing like a
disclaimer of temporal jurisdiction in Rome, or her
delegates within this realm. Neither are
iv:iper jr=
rant that a temporal jurisdiction of a very
nature, although not expressly asserted by the Me
script itself, doss in fact belong to the authority um.
tarred by the gift, and had been even before the
formalities of the gift itself were pedaled, in mlee
immure pat in execution. We refer, of stew, to N the
statute, as the unlawful document is wag, by which
in ooetrawation of every statute of the maim, for re-
gulating the rights of property and the jurisdiction of
courts within the setae, the new Cardinal Archbishop
ofWeernoteraa—whether with or without the papal
approbation we care not—has taken upon himself to
legislate for the case of all the churches, chapels, col-
leges, schools, and other charitable endowments of
our Roman catholic follow subject., for whom himself
and his ecclesiastics are in the eye of the law only tour
toss, and to whom they are accountable in that shie-
water both at law and in equity. There is no doubt
that the mere assumption of this pretended power to
altar the settlement of trust property, if not to destroy
the Waite themselves, is utterly illegal, and even
punishable by permunire on conviction, under statutes
pared in the Roman catholic reigns of EDWARD 111.
sad Matsui IL, for the purpose of giving additional
weight to the terrors of the common law, which for-
bade already the sesumptioe. To this subject of
Roman catholic charities, however, we shall before
Isar have occasion to return, and we have mentioned
it only that our observations on the late re script may
aot be misconstrued. All that we assert is, that
the Roman catholic penal sots, an altered by the relief
seta, and se int. rpreted by runt decisions, do not
forbid the POPE from creating withio this realm what
spiritual government he pleases over Roman catholic.,
WO the Raman esthetic subjects of her Mature
from scceptieg Sad exercising such government ; and
that he and they are equally free to style the ecclesi-
astical offices so created and their holders by any
territorial tithe whatever, those titles being only ex-
cepted which were no the 23rd April, 1829, used by
prelates of the eetablished church, and have not since
Usa abolished by parliament.
The principal relief acts are the 31 Geo. In e. 32,
esesissely ward Edmund Burke's act, and as 10
Oeo. IV. o. 7, the celebrated measure of 1829. Ac-
cording to those swats., no Roman catholic who Rae
taken the oath thereby appointed can be "prevented,
indicted, and impeached, prosecuted, or convicted"
for "any practice or observance of the popish reli-
gion, or maintaining or assisting others therein," and
any priest or minister of any higher reek or order"
may on the same terms officiate in any registered
place of Roman catholic worship, and shell have the
same protection for so doing as if he were the minis•
ter of any protestant dissenting congregation as sect.
The courts have repeatedly given effect to these
enactments, in the case of prelates as well as
of priests; the exclusive jurisdiction of the former has
been expressly recognis, d, and in one memorable in-
stenos the House of Lords carried judicial liberality'
so far es to aribuowledge the innocence of the papal
mandete,by which the bishops and vicars apostolic of
England sesame to jedge in muses matrimonial, and
their competence in that character to expound before
their lordships the principles and practice of Roman
canon law.

interest, and beyond the subscribed capital, even if
it should be altogether expended, each shareholder is
liable, for the whole debts which may be contracted.
It is not too much to say that bat for this exten-
sive liability, the preliminary expenses of companies
previous to incorporation would have been mach
smaller and a large portion of the debts of babble
esespanies which are now in course of apportionment
snider the Winding-up Companies Act would not,
have existed. Nothing indeed can be much more
ridiculous than the state of our law in regard to incl. I
pied tromptniee. On the one hand the directors are
from requiring the payment from the share-
-016 den prior to incorporation by act of parliament or
complete registration of more than a very limited
deposit; while, on the other, the directors are an-
tborind to pledge the credit of the shareholders to an
unlimited amount.
It is evident, then, that creditors occupy a much more
advantageous position in regard to joint stock associa-
tions than against private partnerships, and that the
present state of the law has a tendency to deter from
enterprises of this kind precisely that clam of persons
by whom they would bs most beneficially supported. It
most, we think, be admitted that this is an novitiate°.
tory state of things. It is by the operation of the
joint stock principle alone that undertakings of s
public or of a (rait- public character can be mom-
phelesd, and it is impolitic that a principle which is
celled into exercise mainly at a point beyond which
private capital will not go, or fa purposes not suffi-
ciently rsmuuerative for individual enterprise, should
he esijesed to greater liabilities than woald be im-
Rifarea trapeivate din if they were to undertake
e shiest.
eel Ms been felt strongly, and men of the
grealliet mince have advocated an alteration
el the We, but no one has hitherto grappled with the
saliketleddly. As is too frequently the case the fall
emisleration of the question has been postponed by
tsmgerary expedients. Enlarged powers for gelat-
in darters of inoorporatioa have been 000lsned
open the Crown, but as those powers are very seldom
assedsed except in the cm el companies with moo.
norm espitels, and can only be obtained at alone
ask, the limited liability which can be acquired by
thew as well as by an act of • tion Ins been
truly described u " a sort aristocratic: pis
vilege," and the Joint Stock Registry Act leaves the
sheroltahlen exposed to an %inherit xt liability, il-
k restricts the time for which such liability
continue after the dismal of the shares.
The remedy which has beer palmed of handfuls,
into this country the partnership en connownside
which is so extensively acted upon in France and
other esatinental countries and in the United States,
demands grave consideration. It is impossible
but to speak with respect of a plan of partnership
under which enterprise has been so aseesed'ally
encouraged ; and a system in extensive lase is a
country so commercial and among a people with
characteristics so similar to our own as err
brethren in the United States deserver a sante!
regard, bet the modification or change of any Mg-
setablished system of law ought to be made in her-
mony as far as possible with the empathise eel
habits of • people, and the principle ot the partner,
ship en memmenift, so tar es It requires the t
of the estitel plomptly, and allows the ' et
the aseklimkes thereby from all responsibility, while
the astemillie Wine. is carried on in the names et
mansion without means, is at variance with the =
tom elder country. Indeed, its inaptitude is
tho wry little use which has been made In Lis
ke kw of which was passed for this express shiest
kw years since, and by which the partamehip en
under the name of anonymous per&
liVitis rendered legal in that country.
lieve that the better course would be to gibe
t• Joint stock companies duly registered a definite en.
sponsibility, limiting the extreme liability to a turtle
per mintage beyond the amount of each share, or he
certain cases beyond the amend called eh mil elm t•,
allow such companies to borrow a arida
dm et their capital by asaigniog a relative =1.4
dm pats. bat such advances not to have per ' It
Oak fide ci•editore, and incase of windisir MOM 1
Valli with the other shareholders k aniikl
17 urn means every shareholder WY *IT

Such being the actual state of the law, is to
bishops and vicars apostolic,' we are at • loss to
eoliceive how by the change of style to " archbirhops
awl vicars apostolic," the position of the case is
altered. If the bishop is protected by the words of
the statute, so also must be the archbishop. Bitter
p 4 ate comes within the category of " minister of a
higher tank or order than priest." It is true that the
same cannot be veld of the cardinalate, which of itself
gives no precedence in the hierarchy of Roma But there
is no law now in forty against the acceptance of the
eardinalate, or the coming of a cardinal into England.
There was never any special enactment against
cardinals. If they were ecelesiesties they incurred
the penalties of such; if laymen, they were liable to
be dealt with as vulgar paptsts. The relief acts have
been equally silent in this regard; and if English
cardinals now enjoy no privilege, they certainiy fare
no worse than the rest of her ?derstryte Roman
catholic subjects.
It has been argued that the cardinalate being a
foreign employment, and the holder of it the coun-
cillor of a foreign prince, it is repugnant to the prin-
ciples of our law that Cardinal WisexMc should reside
and discharge the duties of his pastoral office of arch-
bishop within England.
The force of this objection altogether dopes& upon
the circumstance of whether the Cardinal Archbishop's
authority be merely spiritual, or whether it be not
spitball and temporal mingled. If there be large
properties and trusts vested in the catholic vicar-in-
chief—if this property, often landed, and thew
trusts, generally extensive, give the foreign prince
and Enalish Roman catholic prelate great power not
only over his eergy, but over large numbers
of people dependent upon him ;—if this authority be
so vast and so important, that Bishop WIBEYIII even
before his promotion thought fit to establish a council
and a statute for the administration thereof—there cer-
tainly does ariae a question, to be decided by higher
authority than we are, how far • Roman cardinal
and a foreign prince can bold such an office.
Cardinal Wisrarax, we believe, has sworn temporal
as well as spiritual fealty to the POPZ of Roma.

THE EXPRESS, MONDAY EVENING. OCTOBER 28, IRSO.

hie liability,

sad the

len goods, acd albs is silk goods, the exports of which
bay* inereeasle6per rent. Dressed skins, porcelain.
gleek=l, 'stip% reinedh spars millinery, aTri4
Zgeitkrittleertas partied:a:4ld in the aspit7ftrik nom-
etiree. Wimp of shipping entering Fritsch
ports has inure red from 1,461,000 to 1,664,000, and
of those sailing from .1,133,000 to 1.234,000 tons.
This Mama tea, 'however, almost exelnavely at
fatal foreign hags. Few vessels were being con-
structed before the revolution of February, and there
are still less at this time.
SUNDAY Brame.
An article in the Onstitelimenel, tree the pen of
M. Veron, has drawn stab 'attention today, from the
pledges which it contains, that Louie Napoleon will
&basin from taking the Whistler in the erisetlon of
the phicagatios of his powers. The pith of the
arta' contained in the dalowiag article:
TM President of the Repullie, who her himself visited
more than one of ode provide's, km understood the wishes
and waste of all France. We may be ono' that he will
afford no opportunity it preene for somphials or distrust the
moot walbetodeti. Is segeratiwg itlamelf from Omani
dWantpoul, Louis Napsiena Bonaparte has only had one end
in view, whit* is to Ow be his munment row form by e
grand unity of views, ed end of sentiments. It
we are well intoned, a sedellp—lhat of the D z-Dsoembre—
whisk aocusetiews, jest er ummerhed, have punned, will
be dissolved shortly: obi es no mission hes ever yet
bees given to that salay, end seat itself has never contreived
the projects whisk beabesa *pad to it, this measure will
only be a purees' dillipiteirileauel all the "barges sad all
tin erialsal taltemadene yelleasid against it. At to the tin, s
lined the pentegadenelloMentehlek mates the dillieulty of
the eltivisdo.the Prides* of the Republic will not be the
gent 110 owe is fr. He is as only peon in France who
stew the sostatien of February has takes ea oath, end el
I~lllt maw be will keep It. He ha no severity against
may one, bet ewe exists against his. It will be for the as.
essaWy sr the essatry to relieve him from his severs oblige.
don. Thus on their return from the country end their
journeys the President of the Republic cm the one hand, and
we bef,re the Nation,l Assembly on the other, will be the
faithful interpreters mad the devoted ministers of the desires
of the esen•ry. avoiding ell differences, all collisiong, all al-
tercations, for the peso. As to tke question of the future
of Pose, Louis Napoleon Vemsperw, bound by an oath,
ought to end will remain iipensable sad inactive, without
attempting to cut the knot or untie it.
- - - • - •

-
The prefect of the Seine presented on the opening
sitting of the council-general, the general statement
of the departmental badget. The total of expenses of
the department of the Seine for 1851, Is 9,018,638
franca; the total of receipts estimated for the same
year is 8,192,000 fr. The deficit will, therefore,
amonit to 826,636 fr. The deficit of 1850 exceeded a
million, and, although the evil goes on diminishing, it
will only be radically oared when the enormous
charge of pabtio assistance for the hospitals and chari-
ties of Paru, which now presses exclusively upon the
inhabitants of the Seine, is transferred to the budget
of the state. Tne department, according to the pre-
fect's statement, has incurred a debt of 61 millions of
francs for the administration of public assis,ance ; and
a new deficit in 1861 will swell this obligation to 8
millions. The continued increase of the charges, and
the insufficiency of the departmental treasury to pro-
vide for their liquidation, have caused the Minister of
the Interior to take into consideration plans for dif-

fusing the burden over the other provinces. This is
the topic of main interest to be discussed in the
sittings of the councils-general of the Stine. They
have been ordered to communicate a memoir by M.
Davenne, director cipoblio assistance, on this subject.
The Prominent states that "after the breaking up
of the council of ministers on Saturday Pd. de Lahitte
had a long interview with the British ambeesador,
and it is said that he was to have had another oat-
ference in the evening with M. de Kieseleff, the
Russian chargé d'affaires. We also know that in the',
salons of Lord Normanby the diplomatic body con-
versed very: earnestly on the attitude France was
about to assume as regarded the Emperor Nicholas.
Lord Normanby maintained the greatest reserve.
The Union announces that the council of state has
finished its labours on the law of the organisation of
the municipal bodies, and that it has decided that the
nomination of the mayors shall be exclusively with
the executive.

Concerning the Lyons plot more intelligence has
been received by the government. The insurrection
was to have broken out on the day of the re-opening
of the Legislative Assembly, and the conspirators
believed there would be a rising at Paris on the same
day. Several persons of mark are oomoromised by
the papers which have fallen into the hands of the
polioe.
Yesterday a petition, signed by the local authorities,
praying for the prolongation of the President's powers,
was ctrculated for signature in the Commune of Mont-
matre.

--iceomits from Algeria state that the cholera i•
rapidly decreasing.
lomisz.

PARIS, Oor. M I Vas eassant..
for
Mossy. Opselos Mipitiot. LOVOIL Closing
/ per data 67 SS ! 57 30 67 60 57 30 57 U
6 par data..
5 do. Now Leos- s s o •. s
4 psr Ogg"— ....« . : "
. - .. •
i psr deft .9
ezolloago on Lconis : at olgrd. 0 17j; PA dips, 19 6
5401 an, 5, ISM
Do. 6, 1142 ...... 101 . Boma Len -.1649 761 „
Do. 44
Do. 21 lB3O „ Tremor, Basic 4/
"
1 Piedmont S perdets. 114 50 „ Beek Bhare6 9lBO „

Boom—Versailles (right bank), 166; Versailles (left
bank), 135; Pais and Orleans, 780; Pais and Bonen, 812
60; &tabour( and Bale, 118 76; Orleans and Tiersoa,
3.56 26; Boulogne and:Amiens, 206; Orleans and Bordseta,
387 60 ; Ng:Kb, 482 60: Para end Btritsbeen, 342 60;
Touts and Nana., 24260.

BEIM!. Oar. 26.—Tolnatary LOSS, 1061 ; New Loon,
Fosr.and.s-liali per Costa., 100 f ; National Lebt,13,51; Com-
mercial Marine Sanely's Prenonans,l2o4 ; Bank Shares, 971.
VIENNA, OCT. 2.5. Fire per Cent. Idetalliquan, 93 ;
Four.aad•a-Hell per Gam., 814, Bonk Shores, 1140.
illehangs on London, 11.65.

time swear tempseal fealty to the extreme =oust of hi. liability, and the
D. Awl, forsessiag this di- creams would hare, beyond the capital to be seb-
um did. we meet, reser, et which might be borrowed on the saggestid
on that pedaled, it, In reedy L._, • principle, a .certain farther asosetained
ur des.:loßilad
bpi I
responsible to this dans ; eatilltio indoor.
-et hie d . ~ bs 1,, I be beld oar to the sollaet toaster into
Ma to bits. . "1". I:104 the reifies of every seedier woad
ezporwed. '.•- C ' . ted so nearly as possible t• lhattlrshich he
ress sew nocopiee di tee p of his mammy trade.
I. gp, seetrak. to a /Seel+ eipeWftbi at inielModea in tie- pottiest law
Net kis the goversosst, would, we think, unite pablis sad private barest.,
es pedlemet, to aim and the &elle weld be of mg etsitseest.
_