The Northern Daily Times.
Liverpool, Merseyside, England, 1856-02-19 00:00:00

can Ministry ought to be satisfied. But the

tell us whether anything shox
CRAMPTON will be considered sufficient atonement
for the gross breach of faith and illegal proceed-
ings of our Representative. The popular voice

throughout the Union has demanded the return
of Mr. CRAMPTON, and as long as we refuse to
comply with a request which is perfectly justifiable
after Mr. ROEBUCK'S exposition of facts connected
with those paltry enlistment transactions,
which are enough to bring a blush on every
Englishman's face, this country
said to be " drifting' into war with her
own flesh and blood. Wherever the ques-
tion is mooted publicly, some exasperating lan-
guage is used. Mr. ROEBUCK himself could not
resist throwing a poisoned arrow or two at that
free, enlightened, and growing America, which he
admires so much, and would fain claim as a nation
To avoid further discussion, there-
y with the just request of those
against whose laws we have offended, Mr_ CRAMP,
TON should be forthwith recalled.

may be

of brothers,

fore, and to comp

has made np his mind no'

If Lord PALM
to Withdraw that g
be held answerable fox

leman, the Premier alone ca

sequences. Th

unt has already given

explanations the noble N
were highly creditable to
But it has not been denied th

1 his colleagues

Nlr. CRAMPTON has

violated the neutrality laws of the United States,
and therefore the Americans have a perfect right
to insist on his recall. And those who wish to see
the friendly relations between the two countries
maintained, could raise no valid objection to such
Had Lord Pea.mtnstx‘ been really

a course,

desirous of putting an end to the popular excite-

ment which has been felt on this subject, both in
France and England, he would have seized the

earliest opportunity, on the opening of Parliament,
of informing the country that he and his Govern-
ment had decided on the removal of Mr. CRAMPTON
from Washington, accompanying that an-
nouncement with the ministerial apology

already made, as a simple measure of justice

awkward

posit

on in which be had been

I by obeying the

)f the friendship of our 1

nstructions forwarded

Since this pl

n which

ch would belong m

,ursued,

t would 1

lightened community

1. Thos

give us credit

kheads, and those who consider us

all•wis

in such matters, ar watching our money

market, and the movements

Exchequer
r aniici

which the

Compared with the return for the mouth ending

January 10th. Now, the question is, at what cost
was the public faith sustained, and the trade and
industry of the country delivered from a crisis
of the most alarming character ? The Returns
answer this question. On the credit side of the
bank's statement of accounts we have this item—
" Premium on purchases of gold and silver,
" 1,064,434 f." Here we find, for the small sum of
4,351/. the Bank of France was enabled to carry
)entry through a season of unprecedented

ttic
difficult

For that paltry sum the directors
maintained a bullion reserve sufficient to enable

~ontinue their

them to c

ecommodation to mer-

chants, traders, and manufacturers, at a maximum
rate of discount which was by no means exorbitant,
considering the extraordinary circumstances of the

times.
But, while this was going on in the monetary

business of the country, trade appears to have
suffered wofully. For we find, by the last Return,
the bank held no less than 20,682,375/, overdue
ommercial bills ; while in the Return for the
'nus month,-the total amount of overdue bills
26,601/. How this extraordinary com-
mercial embarrassment has occurred we cannot at
II comprehend. It is true that taxation has
-?.d in France 4,000,0001. within the last ten
years—that the amount of French Rentes pur-
chased in the provinces alone, within the last year,
something over 5,400,0001, and that
tho war has absorbed in loans very nearly
45,000,0001. But all this would not account
for the startling phenomenon which the commer-
cial bill department of the Bank of France
exhibits. There can have been no " overtrading,"
caused by an over-issue of notes, for the increase
in the issues for the month only amounted to
702,230/ „which was justified by a large increase
in the Government and private deposits, and the
heavy demand- for advances on public securities.
In the Bank's discounts there was a decrease of
276,0101. for the month. Therefore, the Bank
cannot be said to have been bolstering up trade.
The facts, however, are sufficiently intelligible to
men of business : and while the cause which has
led to such a'state of things is of secondary im-
portance to the mercantile classes in this country,
the probable effects should not be lost sight of for
a moment. The overdue bills may be met during
the current month, but with the figures we have
before us, no one can pretend to deny that
France has been overtaken by a commercial crisis
of alarming magnitude. That it must be felt

Nas only ti

increas

bitterly in England is certain, and those
engaged in the French trade would do well to give
their earnest attention to the very critical condition
of the commercial credit of those with
whom they have such heavy transactions. With
these matters politics have nothing whatever to
do. It is purely a question of s. d. between
trader and trader, and it should be approached in
a purely mercantile spirit.

THE COURT