The Northern Daily Times.
Liverpool, Merseyside, England, 1856-05-21 00:00:00

ESTABLISHED 1827.
pENNELL AND WHITTLE

WHOLESALE AND RETAIL

FEATHER BED, MATTRESS,
CURLED HAIR
MANUFACTURERS AND UPHOLSTERERS,

NO. 120, WHITECHAPF,L

CORNER OF GREAT CHARLOTTE-STREET.

MANUFACTORY, FEATHER-STREET, LIVERPOOL.

JOHN G. JACOB,
SILVERSMITH, JEWELLER, AND WATCHMAKER
56, CHURCH-STREET,

RESPECTFULLY invites attention to the
considerable additions he has made in his
ELEGANT ►STOCK Of
SILVER PLATE,
TEA AND COFFEE SBRVICES, BASKETS, INKSTANDS,
SALVERS, CRUETS, &C., &C., FISH KNIVES, DESSERTS, &C.
JEWELLERY
Of the most elegant description and superior quality, in

RINGS, CHAINS, BRACELETS, NECKLETS, BROOCI-lES, LOCKETS.

, -
STUDS, AND SLEEVE-Libißs.
THE BEST ELECTRO-PLATE
DISHES, COVERS, ICE-PAILS, EPERGNES, SALAD-STAND%

FLOWER VASES, KETTLES,
And every other article usua.ly made in Silver,
SPOONS AND FORKS FROM

ER. DOZEN

ALL TR STOCK MARKED AT VICKY MODISRATK PalCli

MERCHANTS, CAPTAINS, AND SIIIPPEF
Supplied WHOLESALE on the most advantageot

JOHN G

JACOB

GOLDSMITI

i 56, CHURCH-STREET, LIVERPOOL

THE

amount said to have been contracted on the sth of
January last, there remains, at least, 50,000,0001. to

be added, which brings us back, after only two
years and two days of bloodshed, to about the
grand total of 1816 ; and then he takes great credit
to himself when he says :—"The total diminution
" in the charge of the funded and unfunded debt,

" since the close of the last war, is 4,514,6311."

Strip the Finance Minister's figures of all Parlia-
mentary garnishing, and this is what they amount
to, without allowing one sixpence for the cost of

a change from war to peace !

But there is no analogy whatever between the

two years selected by Sir CORNWALL LEWIS for
illustration. In 1816 we had little more than half
the population to feed, clothe, and house, we have
now ; while the circulation of the Bank of Eng-
land, alone, amounted to 27,000,0001., against
18,900,8051. in January, 1856. At the former
period, the pressure on the nation's source of
supply, both foreign and domestic, were less
severe, and there was more money in the country
to meet the general wants of the day. All com-

modities were high in value, because the taxes
levied by the State were added to price. An
abundance of money, and a most stringent usury

law, are very different things to an unnatural con-
traction of the circulation—the available means of
trade—and a bank screw, invented for the special
purpose of causing " a fall generally" in the prices
of all products, totally irrespective of the
to taxation ! These are

additions made

(1e

birt*n (Timm

TVEDNESDAY, MAY 21, 1856

The CHANCELLOR of the EXCHEQUER'S financial
statement is, as we have led our mercantile readers

to expect, a most extraordinary episode, comment

ing and ending with monster deficiencies. Last
year, when we had to replace our army, for which
routine has yet to account, by foreign troops, to
subsidise Continental States, and raise large bodies
of alien soldiers to serve in the British ranks, the
expenditure only reached 88,428,0001., being
26,470,0001. in excess of an income of 65,705,0001.
This sum was made up, as we all know, by loans and
the issue of Exchequer Bonds and Bills, which,
when applied to legitimate purposes, left the
Government, as a net balance, a trifle over
100,0001., on the 31st of March last ! Sir CORN-

WALL LEWIS looks on the first year of peace as one
of the last of war—or as a season of " transition,"
in which it is delusive to expect any material re-
duction in the expenditure of a nation ; and this
he proved to the entire satisfaction of his hearers.
For while he proposes a reduction of 17,559,0001.
on the army and navy estimates, he still asks for
an increase to meet the charges of 1856-7, of
77,525,0001., which, deducted from the. 88,428,0001.,
leaves only 10,903,0001. as the gross estimated

amount to be saved to the country by peace!
The estimated revenue for the current year is set
down at:67o 66,0001., to which sum the Income Tax

is to contribute 16,000,0001., or close on 25 per cent !
None of our war taxation is to be removed or
reduced. The war duty on malt alone is left to
die a natural death in July next. The duties on
tea, coffee, sugar, and molasses, are to be reduced
after the sth of April, 1857, and again, after the
sth of April, 1858.

Starting on the hypothesis that the taxes levied
for the war were not excessive, Sir CORNWALL
LEWIS appears to have made up his mind that
reductions in the taxes on the necessaries of life
should not be extravagant, as will be seen by the
figures in his tabular statement. But, on giving
due weight to the fact, that no allusion was made
to a reduction in the numerical strength of either

army, navy, or militia, we have reason to rejoice at
the announcement made by the CHANCELLOR of
the EXCHEQUER that her MAJESTY'S Government
do not think, in the present circumstances of the
country, they would be justified in proposing
any new taxes. There is much in these few words
to console us, let what may happen ; and had the
right honourable Baronet stopped here, all would
have been well. Our financier would, however,

stray back to 1816 as the first year of the late

peace, in search of comparisons to reconcile us to
the inflictions of 1856. And after showing us our

financial condition after a twelve years' and a two

years' war, I.

could not help observing with satis-
igures employed did not show our

faction that th

present position to be a disadvantageous one

"On the sth of January, 1816

Sir CORNWALL

LEwis said, " the capital of the funded debt of
" England was stated at 816,311,939/. ; on the sth

„
" of January, 1.858, it was 766,77r3,599/.; showing a
° decrease of 49,533,3401." Now, to the gross

NORTHERN TIMES.---LIVERPOOL, WEDNESDAY

MONETARY AND COMMERCIAL.
LIVERPOOL, TUESDAY EVENING

LATEST INTELLIGEN CE.

A very small business has been done in cotton
to day, the sales amounting to only 3,000 bales; of
which 500 were taken for speculation and export.
Prices are easy but not lower.
The Liverpool Share Market opened with a firm
tone, but subsequently drooped, and closed tamely
at the following quotations:—Aberdeen, 13 131.
Chester and Birkenhead, 151 16. Caledonian, :401
302. Chester and Holyhead, 151 16. Eastern
Counties 108101. East Lancashire, 19: Da. Great
Northern, 23i 24-1. Ditto A, 96 10k. Great Western,
M. 611. Lancashire and Yorkshire Stock, 901 01a.
Liverpool, Crosby and Southport, 17 17-1-. London
and North Western Stock, 102 102-1. Manchester
Sheffield, and Lincoln, 281 281. Ditto Pref., 11'1, 11*
Ditto New 6 per cent. Pref., 1 Midland
Stock, 77 77*. North British, 81 84. North
Staffordshire, 68 51d. South Eastern and Dover,
21 7-16 211. York, Newcastle, and Berwick,
20k 201. York and North Midland, 281 281.
Leeds Capital Stock, 161 161. Buffalo and Lake
Huron, 11 lap. Dutch Rhenish, 18 1 1-16 p. Great
Western of Canada, 261 26Z. Ditto New Shares,
3 3;5,-p. Ditto 2nd issue, 31 3 9-16 p. Great
Luxembourg, 81 Bd.
The Corn Market continues. to show weakness.
Last week's prices, however, were generally main-
tained at our market to-day for all articles except
Indian corn, which was 3d to 6d lower than on
Friday.

TURKEY.

In Manchester there has not been a large busi-
ness done to-day. There was a moderate demand
for goods, but lower prices had to be accepted. In
Yarns there was very little done, and prices were
not maintained.

The following is a statement of Traffic Receipts
of the Great Western Railway of Canada, by pas-
senger and goods trains, for the week ending the
2nd of May, 1856, and for the corresponding
period last year:-2nd May, 1856—total receipts,
16,7121. Is. ld. 4th May, 1855—d0., 11,8771. 2s. 10d :
Increase, 4,8:341. 18s 3d. Aggregate gross receipts
from the commencement of the current half-year to
date, 156,579/. 10s. Ud. sterling ; do., for the corre-
sponding period last year, 110,2031. 4s. 7d., do.

The question of the Sound Dues is stated in
the foreign journals to be entering upon a new
phase and when it comes under discussion before
the plenipotentiaries of all the States interested,
it is expected that something decisive will be done.
It is mentioned that negociations are at the pre-
sent time going on between England and Prussia,
in which the latter Power is urging the British
government strongly to accede to the propositions
made by the Cabinet of Copenhagen, relative to
the capitalisation of the dues. it is also stated
with certainty that these propositions have been
accepted by Russia, Sweden, Norway, and the
Grand Duchy of Oldenburg. The present state
of the question as set forth by Denmark, is as fol-
lows :—The average value of the receipts amount
to 2,098,561 rixdalers in custom dues, and
150,018 rixdalers for lighthouse dues. For the first
a sum of 32,664,912 rixdalers is mentioned as the
amount of capitalisation ; and for the second,
2,335,088 rixdalers, making a total of 26,250,000
Prussian thalers, or about 10,560,0001. sterling.
This sum is divided amongst the states interested,
as follows :—Russia, 6,304,194 Prussian th ; Great-
l3ritain 7,595,145 th. ; Prussia, 5,330,000 th. Sweden,
not including Norway, 1,192,171 th.; the Low
Countries, 1,056 048 th.; France a little more than
000,000 th.; Denmark and Spain, about 800,000 th.
each ; North America and Norway, a little more
than 500,000 thalers each. The remainder, about
31 million thalers, is distributed among the other
States, among which Brazil, Belgium, and Meck-
lenburg are the principal.
The following are the particulars of the specie
on board the Peninsular and Oriental Steam
Company's vessel Pera, which leaves Southampton
to-day for India, China. &e.

✓Alexandria (gold)
Bombay (silver)
Ceylon (silver)
Do. (gold)
Madras (gold)
Do. (silver).—
CaleuttaXsilver)

£5,755
276,877
194
1,766
400
24,730
229,520

539,242

The allotments of the new loan were made to
the subscribers yesterday, and they appeared to
be divided into three classes—viz., a fifth, and a
tenth, and a twentieth of the amounts asked tor;
the aggregate amount of the deposits being
3,700,0001, representing nearly 4,000,0001. Only
a very small portion could be given to the appli-
cants individually.

The funds to-day opened with renewed buoyancy,
and soon attained a fresh rise of per cent. Some
considerable sales, in realisation of profits ensuing,
a reaction of -g- per cent., took place, but at the
close the feeling was again firm, and the latest
quotations were equal to those of yesterday,
namely, 941 to 941. In general character the
market remains good. A very favourable impres-
sion has been produced by the Budget. In the
Discount Market there was a full supply of money
this afternoen, owing partly to the release of the
surplus deposit on the Loan. The scrip of the
new loan rose this morning from 2 to 21: pm, and
left off at 11 to 19 premium. At Paris to-day
the three per cent. rentes closed a little lower.
The annexed are the closing quotations of
Foreign Exchanges :--Amsterdam, short, 1.1 181
to 11 19. Do., three months, 12 11 to 12 12,
Rotterdam, do., 12 11 to 12 11. Antwerp, do.,
25 621 to 25 67k. Brussels, do., 25 622 to 25 672.
Hamburg, do., 13 11 to 13 11. Paris, short.
25 37,1,-- to 25 45. Do., three months, 25 75
to 25 85. Marseilles, do., 25 75 to 25 85.
Frankfort, do , 121 to 1214. Vienna, do., 10
20 to 10 23. Trieste, do., 10 21 to 10 24.
Petersburg, do., 364 to 391. Madrid, do., 491 to 49a.
The railway share market this morning showed
buoyancy. In the afternoon, however, a re-
action took place in sympathy with consols.
At the close the subjoined were the prices stated
of Railway Shares—Caledonian, 60a 604. Eastern
Counties 10 1-16 10 3-16. East Lancashire, 80 81.
Great Northern, 95 05k. Do. A, 79 80. Great West-
ern 61 61k. Lancashire and Yorkshire, 90-.1
London and North Western, 101,1 102 y. Manches.
ter, Sheffield, and Lincolnshire, 291 291. Midland
Stock, 774 77g. North British, 343- 35k. South
Eastern and Dover, 701, 70. York, Newcastle, and
Berwick, 80 801. York and North Midland, 57
N7l

Despatches from Vienna; dated the 19th inst.,
state that news had reached us from Constantinople
to the lgth, announcing that a convention had been
concluded between the Porte and the Western
Powers, and adding that the evacuation of the
Turkish territory by the troops of the Allies, will
be Completed in six months.

IMPERIAL PARLIAMENT.

HOUSE OF LORDS.-TIIESDAY.

The LORD CHANCELLOR took his seat on the woolsack.
The Earl of Kenmare took the oaths and his seat.

MARITIME LAW.

The Earl of ELLENBOROUGH, referring to the question
of maritime law, upon which he thought some distinct un-
derstanding should be come to, said he proposed, on Thurs-
day next, to moveresolutions on the subject.
DIVORCE, &C., CAUSES BILL.

The LORD CHANCELLOR moved the second reading of the
Divorce and Matrimonial Causes Bill, and explained that its
object was to establish a competent court to decide in such
cases, obviating the necessity for an action for erica. con•
preparatory to an application for a divorce. This court
would consist of the Lord Chancellor, the Lord Chief Jus-
tice, and the Judge of the Court of Probate, and would
have power to receive viva vote evidence and to avail them-
selves of a jury if they thought it advisable. The noble
and learned lord stated, that he would not object to the
introduction of clauses citending the operations of the
measure to Ireland.

Lord LVNDIttIRST moved that the measure should be re-
ferred to a select committee.

After some discussion, this course was adopted.
Their lordships rose at a quarter to eight o'clock.

HOUSE OF COMMONS.—TVESDAY
The SPEAKER took the chair at four o'clock.

NEW MEMBER.
Mr. Hughes took the oaths and his seat for Longford,
in the room of Mr. R. M. Fox, deceased.

PRIVATE BILLS

The following private bills were read a third time, and
passed—Elgin and Lossiemouth Harbour improvement,
Knaresborough and Green Hammerton Road, and Knares-
borough and Pately Bridge Road.
The following bills were considered, and ordered for
third reading—Colue Valley and Halstead Railway, Cork
Bridges, Waterworks, &c; Fleetwood, Preston, and West
Riding Junction Railway ; Oxford, Worcester, and Wol-
verhampton Railway (Extension of Time) ; Stockton and
Middlebrough New Road and Bridge, Yarmouth and Had-
discoe Railway, Shrewsbury and Hereford Railway.

PETITIONS

Mr. CAYLEY presented a petition from the inhabitants ti
Yorkshire against the Agricultural Statistics Bill.
Sir Josnus WALIISLEY presented a petition from the
inhabitants of Leicester, praying for the abolition of capital
punishment.

Mr. HEYWOOD presented several petitions, praying a new
translation of the Bible.

Mr. MONTA.GU CYIAMBERS presented a petition, very
numerously signed by persons trading under the name of
leaving shopkeepers, praying that the Pawnbrokers' Act
might not pass.

PARLIAMENTARY REFORM,

Sir J. WALMSLEY postponed his motion on the subject of
parliamentary representation to this day month.

TORTURE IN INDIA.

Mr. OTWAY postponed his motion on the subject of
torture in India, to the same day,

THE CRIMEA.

In answer to a question put by Sir J. PAKINGTON,

Mr. PEEL said that no despatch had been received from Gen.
Codrington, explaining the order issued by him with regard
to the disposal of officers horses in the Crimea, but in
such cases it was necessary to leave large discretionary
powers in the hands of the Commander-in-chief. A
telegraphic message had been sent by Lord Panmure to
the effect that officers desirous of bringing their horses
home, would have an opportunity of doing so at the public
expense.

THE SARDINIAN MEMORANDA

In reply to Lord GODERICH,
Lord PALMERSTON said there would be no objection to
the production of the Sardinian Plenipotentiary's address
to the English and French ministers, dated March 27th.
With regard to the second, no answer had been given to it,
but as soon as that was done it would be laid before
Parliament.