The Express.
London, England, 1861-04-22 00:00:00

THE EXPRESS, MONDAY EVENING,

is generally explained. It is said by some :
" This must be a bad time for the joint-stock
" banks, or we should not see the largest of them
" purchasing to the extent of more than half a
" million in the English Three per Cents., at prices
" which show a return of scarcely more than 3/
"per cent, per annum, at the very time when
" they are themselves allowing 4 per cent. for
" deposits." But we have little doubt the next
half-yearly report of the directors of the London
and Westminster Bank will prove that this view is
erroneous. No bank pays interest for the whole
of the balances lodged with it. It always obtains
the use of a large sum gratis. The London and
Westminster Bank are probably in even a
better position than their competitors, for
such is the magnitude of the concern that the
management does not care to be troubled with
small amounts of individual deposits, unless upon
reduced terms. Accordingly, an abatement of I
per cent. is always made in the interest given on
deposits below 5001. The investment just made
is an indication not of financial weakness, but of
strength. As banking securities, none can com-
pete for a moment with the English Three per
Cents. A reserve accumulated in this form is
always available, almost at a moment's notice. It
must he borne in mind, too, that there is no class
of property upon which money may be borrowed
with equal facility or with equal economy.
English Government securities are at all times
convertible into cash without the necessity of a
sale. Bank shareholders may rest assured that
the larger the proportion of Government securities
in their possession, in relation to the amount of
commercial and other securities, the more inde-
pendent will be their position, and the better will
they command the confidence of customers.

APRIL 22,

AMERICA.
QUKENSTOWN, SUNDAY.,
The Royal mail steamship Africa, Captain Cook,
from New York, on the 10th inst., arrived here at
8.45 a.m., landed the Irish and • portion of the
English mails and 12 paasengers, and proceeded for
Liverpool at 9 a.m. ; all well. She brings 97 pas-
sengers and 75,135 dole. in specie for England.
The steamships Edinburgh, Canadian, and Persia
had arrived out.

NEW YORK, Area 10, 3 Ea.
(via germserowir).
No official statement has yet been made with
respect to the intentions of the federal government.
The chartered transports Baltic and Illinois, with
500 troops and a quantity of war material on board,
and the cutter Harriet Lane, sailed on the Bth inst.
under sealed orders. It is currently rumoured that
their destination is Fort Sumter.
The envoy of the federal government arrived at
Charleston on the Bth inst., but was refused ad-
mission to Fort Sumter. He has since returned to
Washington.
The New York Herald publishes despatches from
Charleston stating that the federal envoy informed
the state authorities that the federal government
would supply provisions to Fort Sumter, and if any
resistance were offered it would employ force. The
despatches add that, in consequence of this, large
numbers of military companies and rifled cannon
were arriving from the interior, and very warlike
preparations were being made theist any attempt
to enter Charleston Harbour.
Reliable private despatches, however, declare
these reports to be exaggerated.
President Davis has made a requisition to the
Governor of Alabama for 3,000 troops.
The Massachusetts legislature has abolished ca-
pital punishment.
COMMERCIAL INTELLIGENCE.
Stooks closed rather statelier. The final quotations were :
—New York Central, 741: Erie, 25i; thinois Central, 721.
Exchange on London, 10.71 to 106. Cotton heavy. Flour
and corn lower. Bredstuffs brisk. Freights easier.
NEW ORLEANS, Aran 9.
Sales of *Atom during the last three days, 5,000 bales ;
middling, 121 to 13.
HAVANA, APRIL 4.
His Royal Highness Prince Alfred is expected here on
the Vith inst.
Sugar is dull, at 6i realm.

.
QUEENSTOWN, &MAT.
The Royal Mail steamship Arabia arrived here
at 3 p.m., embarked mails, passengers, and latest
telegrams, and proceeded for Halifax and Boston
at 5.30 p.m. All well.