The Northern Daily Times.
Liverpool, Merseyside, England, 1856-05-03 00:00:00

servant a just measure of that guilt which all
participated in through int the war.
The PAL3IERSroN Cabinet have now shown
their strength in resisting, originating and pro-
.rioting all those trifles which belong to the surface,
as it were, of government. But what are they
doing with those affairs which constitute the
burden of a ministerial existence? How stand
the dead weights of war, and on whose shoulders
are they to be thrown ? What are to be
our financial gains by peace ? We have
reason to believe that another loan will be
required, and very shortly. We predicted that
the last 15,000,0001. raised would be wanted, and
the time at which it would be needed ; and we now
tell our readers most emphatically, that if
large reductions are not forthwith made in our
• estinaated'expenditure—to which many heavy items
have been incidentally added within the last two
months, and to which is to be further added the
cost of withdrawing our troops from the East—
some oppressive drafts will be made on the
motley market by the State. The public service
has the first call on the patriotism and loyalty
of the country, but a due consideration ought to
be shown for those inestimable qualities, and the
people allowed to know the extent of the embar-
rassments for which they have to prepare. As for
the political principles of a CHARLES SURFACE
or Justice SHALLOW, the House of Commons
must be well aware the commercial classes
do not care one blackberry. The trader
wants to see the discount market relieved
—householders, and tax payers generally, are
more than usually anxious to hear what reduc-
tions are to be made in their favour, and how
Ministers propose to effect these salutary changes.
Mr. WHITESIDE has played the part of a " great
" man," and, considering all things, must be per-
fectly satisfied with the verdict of the jury before
whom he pleaded. And the present moment would
be a fitting itime for the Cabinet to show
that they are as fully alive to the financial
condition of the Empire, as they are to the
passing necessity of defeating a political enemy.
If we are .to have a Peace Ministry, we must have
peace expenditure. There is nothing incompatible
with common sense in this assertion. There are
great principles involved in finance just now.
Prodigal expenditure will render the continuance
of our partial system of Free Trade impossible.
We cannot meet our present State charges
from low Imperial duties. The total we
have to make good, in the national balance
sheet this year, will leave our producers
but a trifle for themselves out of the gross
invoiced value of our exports, while local
taxation is left for our home trade to pay. Add
these two totals together, and then deduct them
from the available means of trade and industry,
and we shall find the balance :—" Pauperism one
i" in twenty of the entire population, with probably
"five per cent. added by the ravages of war." Is
there nothing here for the Imperial Legislature to
ponder over? Nothing on which the Statesman,
if W 9 have such a man amongst us to boast of—to
shine forth on immesurable heights, above the
party clap-trap vendors of the age ?
The country must be fairly heart-sick of watch-
ing the flights of mediocrity, and the audacity of
professional nepotism. Parliament does not want
for blood ; but our representatives are sadly
deficient in brains. The House of Commons does
not present to the world a fair average
sample of England's practical knowledge
and general enlightenment, Ireland's devoted
patriotism and brilliant genius, or Scotland's stern
love of justice and toleration. The defeat of a
motion by the Cabinet will not alter all this, and
will not re-assure the public that that which every
really honest and upright citizen has at heart, will
be attained. These kingdoms require great men,
in the literal meaning of the phrase, to represent
them in the eyes of the world. Members of Par-
liament, in these advanced times, should be little
short of colossals in intellect, industry, and know-
ledge of all that appertains to the burdens the
subject has to bear, and the duties the
State has to discharge. We question the
mental qualifications of a body of men to
fill such a high and commanding position, who fly
off from the consideration of a state or things in
which they find fully three-fourths of the net
receipts of our foreign trade absorbed by the State,
and quite one-sixth of our domestic receipts swal-
lowed up by a growing pauperism and local calls,
for a three days' debate on a subject on which
the whole community had arrived at an unalterable
conviction many weeks back. To such an
assemblage, we have no hesitation in saying, the
finacial and material condition of the Empire will
prove an insurmountable stumbling block,
Our Indian possessions and Colonies, with the
exception of Canada, are in most neglected and
abnormal plight. In the former, we have supplied
the place of a CORNWALLIS and a WELLESLEY by
RALEIGH'S and WELLINGTON'S. We give the Aus-
tralian colonists spendthrift and arbitrary rulers,
and have severed the postal link which bound
them closely to the mother country. The West
Indies are still British possessions, and here their
hopes and their boasts end. But how many
members out of the whole House of Common s
understand the actual condition of these vast
regions? They applaud our conquests in India,
but will they guarantee our retention of the terri-
tories we have subjugated, without being
dragged into wars more costly than our
newly acquired dominions are worth ? Our
Colonies, by wise inter-col onial concessions,
may advance their mutual interests, and so escape
the consequences of parental indifference. Yet
turn the State chart in which way we will, we find
vast blanks to be filled up, dangerous chasms to
be avoided, and awkward precipices to be ascended
and descended. We deny, however, that these
dangers are of a political character. Our social
system is rotten to the core. Purify in this direc-
tion, and apply the axe of Ministerial honesty to
the jungle of prodigality—let in the fresh air of
economy into the national Exchequer, that we may
once more know the blessings of peace, and we
doubt whether any party could create a sufficient
pressure from without to startle the timid, or
outrage imbecility by a loss of place and emolument.

MONETARY AND COMMERCIAL.

LIVERPOOL, FRIDAY EVENING

The Cotton market has been quiet to-day, and
the sales do not exceed 8,000 bales, of which 2,000
have been taken for speculation and export. The
total sales of the week are 41,61.8 bales, and prices
must be quoted 4 of a penny lower than on this
day week.
The Liverpool Share Market opened with a
steady feeling, but during the day developed a
little, and closed easier at the following quotations :
Aberdeen, 121 13. Chester and Birkenhead, 151 154.
Caledonian, 291 294. Chester and Holyhead, 151
154. Eastern Counties, 94 10. East Lancashire, 19
191. Great Northern, 231 234. Ditto A, 94 94. Great
Western, 614 621. Lancashire and Yorkshire Stock
88 884. Liverpool, Crosby, and Southport, 164 171,
London and North Western Stock, 100 1001. Man-
chester, Sheffield, and Lincoln, 274 28. Ditto
Pref., 114 12. Ditto New 6 per cent. Pref., 7-16
9-16 p. Midland Stock, 73a 734. North British, 81
84. North Staffordshire, 6 51d. South Eastern,
214 211. York, Newcastle, and Berwick, 194
194. York and North Midland, 274 271. Leeds
Capital Stock, 151 151. Buffalo and Lake
Huron, 2 24p. Dutch Rhenish 14 1 5.16 p. Great
Western of Canada, 261 261. Ditto New Shares,
34 34 p. Ditto 2nd issue, 31 34p. Great Luxem-
bourg, 7 64d. _ _

We quote the following report of the Tallow
Market from the weekly circular of Mr. F. J.
Eaton :

Only a moderate business doing here : P Y C worth 493
to 20s per cwt, 250 casks North American have been sold at
43s to 45s 61 for fair to good New Orleans, and 493 for fine
Butchers' Association, a few pipes fair South American
brought 475, and some Mares' Grease 35s to 36s per cwt.
The London market has again declined fully is from the
quotations of Friday last, the closing prices being 46s per
cwt on the spot, and 45s to 45s 6d per cwt for the last three
months. The halt-weekly delivery is 932 casks against
1,188 casks last year, and the stock is 18,593 casks against
31,700 casks in 1855.

Messrs. Grant and Hodgson furnish the fol-
lowing monthly report of the London Tobacco
Market :
The market has assumed a more active character than for
some time past, and sales mar be taken at fully 1,650 hhds,
of which 340 hhds were Virginia leaf and strips, 540
hhds Kentucky leaf and 770 hhds Kentucky strips, of the
latter upwards of 600 hhds were of old imports. These
sales will be deemed nearly an average under ordinary cir-
cumstances, with a large stock—but with only 7,646 hhds
on the Ist of April, they may be considered extensive.
For exportation upwards of 400 hhds were taken :
farther sales were prevented fram the absence of suitable
descriptions. Since the Ist ultimo, the Africa arrived with
997 hhds, a large portion of which have subsequently been
sampled, and sales made of upwards of 400 hhds, and are
included in the month's business. The principal purchases
made for exportation have not yet been shipped, neverthe-
less, stocks on the 28th ult. with the addition of the cargo
ex Africa, was 7,698 hhds against 7,646 on the Ist ultimo.
Latest advices from New Orleans state that the supply had
been slightly increased within the last few days ; the
enquiry was principally for heavy rich tobacca, and sales
were made at full prices. Bright leafy qualities of the new
crop were but little sought after.
Letters from Berlin mention that the Prussian
Cabinet has proposed a new form of capitalising
the Sound Dues, upon the average payments con-
tributed by each State pro rata. The particulars
of this proposition have not transpired, but they
are said to differ from those recently entertained
by England, and that they have been submitted
to our government, who seem disposed to agree
with them.
The Colonial Produce Markets this week have
been rather more active, and most of the principal
staples have commanded firm prices. Sugar has
been in fair demand at fully previous rates, and of
coffee there have been moderate purchases at full
"values. Tea has remained dull, and at the public
sale a large quantity was taken in. Rice has been
firm, especially the fine sorts ; in cocoa no change
of importance has occurred, and rum has met with
fair enquiry. Pepper and cloves have been rather
cheaper, saltpetre has tended downwards, and
cochineal has been at previous quotations. In
cotton a moderate business has been done. Tallow
has continued dull.

The committee of Mexican bondholders have
received advices from Mr. Whitehead, dated
Mexico. 2nd ult. The government of General
Camanfort had been considerably strengthened by
the surrender of Puebla on the 22nd of March
last. This packet brings no remittance for the
dividend fund ; but it is hoped that things will
soon return to a more regular course.

The Ecuatorian Commission of Agency yester.
day received a further remittance of 2,9051. lls. 3d.
on account of the dividends on the foreign debt of
the Republic.

TN KORTHERN TIMES.-LIVERPOOL, SATURDAY, MAY 3, 18S8.

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