The Express.
London, England, 1857-02-16 00:00:00

THE EXPRESS, MONDAY EVENING, FEBRUARY 16, 1857.

ing machinery and armaments, that this ex-
cess of two millions will only aviment the
strength of the Army in 1867-8,
,se sma-
rm& with 1863-4, by 7,000 man. A great pert of
the difference between these years is the cense-
"me. of that ries in the value of everything whisk
migrants the expenditure ye diminishes the som-
samption (as the care may be) of every man. But as
the value of commodities falls, as other powers re-
duce their establishments, se the police of this
country and of the colonies becomes better developed,
so in future yeah will the Government be able to re-
sent Estimate* still further reduced to the Rime of
Commons. The acceptance, therefore, of these mdse.
floes as sufficient for the year 1837-8, does nee bivalve
acceptance of them ea a standard for our reseal
military establishments is time of peace. The por
emit estimates are rather to be regiuded ass passe
maximum, upon which further diminutions ere bur►
after to be made.

Nothing, of eourre, could be more desirable than a
return to the letter of the Income Tax of 1863. But

if by retaining a sevenpenny rate, instead of dessewd-
ing to a ilvepenny rate, we can better seems dr earn-
pieta abolition of that tax in 18430, the intermediate
burthen will be cheaply bonie. This is the point in
whiehtheßudget failainexplicitness. Mr. CILLDBTONE
on the first night of the. session insisted that good
faith should be kept as to the Act of 1863. Sir
Cortlawati. Lawn, however, refuses to regard its
stipulations as immediately binding on him. Comm-
quently, it remains for Mr. GLADSTONE to &M.

now that there is a reduction in the Army and Navy
Estimates of four millions sterling more than he
anticipated an the first night of the session, how it
is peedble, after two years of war, after an addi-
tion of forty millions to the funded and unfunded
debt of the country, after an addition of one million
roar hunshedthousand a year to thecharge for interest,

after the addition of ; million and a half for a
sinking fend, and an increase of two millions ster-
ling on military establishments, and of half a million
in the Miscellaneous Estimates of 1867-8--how it
is postale to secure the tag extinction of
the Income Tax in 1860. Notwithstanding the
dropping in of the Terminable Annuities in that
year, we confess we see no other way of arriving at
that desirable goal than the practice of very rigid
economy, and it is oonsequeutly with regret that we
see a further increase intended this year in the civil
expenditure of the country.
Although it has no doubt its objectionable
side, the readjustment and slight increase on
the peace rates of the sugar and tea duties is
to be regarded in another point of view as some
additional security for the repeal of the Income
Tax in 1860; and if it be trim that, in consequence
of deficient supplies of those articles, a reduction fol-
lowing &return to the old peace rates of taxation would
not p into the pocket of the consumer, the proposition
loses much of its objectionable character—especially
as some relief is given to the operative climes who
contribute to the Income Tax by lowering the rate
they pay. But the principle of not returning to low
duties on tea and sugar is bad in itself, and the
higher rates proposed by the CHANCELLOR of the
EXCHEQUER extend, it is to be ober ed, over a period
within which we shall, it is to be hoped, have
abundant supplies of theme necemaries of life. The
suspicion, therefore, must aria) that Sir CORNEWALL
Lewis, in this readjustment, is cunningly availing
himself of temporary and exceptional circumstances
in order permanently to alter a settlement of theme
duties deliberately made. In keeping the tax on
British spirits up to the highest revenue rate con-
sistent with avoiding all encouragement to illicit
distillation, every seeable and disinterested person
will approve the course proposed by the CHAR-
au.un of the Fsensuren.

As a whole, the Budget will probably be approved
of. It exhibits a large reduction in expenditure ; it
marks a commencesoent of further economy ; it gets

rid of the mat objectionable of the war tails ; and
though it manipulates two of the others rather
mysteriously and dangerously, there is something to
be said in defence of temporarily smiting the fall
in the tea and sugar duties. The Budget, however,
does mere than this—it makes provision for the dis-
charge of the Ant set of Exchequer Bonds falling due,
it keeps faith as to the Sinking Fund, and commences
the repayment of the war loans in Console; and
thus commences a reduction of the funded and
unfunded debt incurred during the war. In this
manner it places the Treasury in an easy position, by
leaving it an unappropriated surplus for the year
1857-8 of 890,000/.
If, therefore, the House of Commons shall grant
to the Crown the estimates submitted by Sir Comte-
WALL LEWIS and shall provide an incalito of
86,474,0004 we base this esusalatien at hest, that,
notwithsinading the Immensity et that draught on
the rumen of the country, its condition h one of
sabetwatiel, though not of universal, prosperity.

The 1T..., in commenting upon the modem which
the AbeserrOsonel tut beireg Limp hewed fa the
Seem et ammo Is. hr the mobas of Mr.
Ism bad; obeeromo:—" ash= baron le Is Abbe-
umesitth Sole\ as. legethy miaribln
Ma loam megeboess of by the Ism vim Meg=
a math= The males se dr dist ithogents
at tho period of the teeth Sea With h • web hum la-
mem May not the km tharehern alien Mine =pie
fete the altegebons %NM Mr. rod Whew? Se bee
been umbrinely aremonsiln benumbs= ertiehlrer a =es
nesubleneo to Sr liege d Sea =I him Seib, ank
Omagh be the nit the 16111 M hid bboulf epee be a Moira
preemeho, yet Sue Is enthient nem le moths whether
be bulk mein le sit in the legebstere aft UMW Xing-
Asa We Mb the memoir ell nee pm away vitheeteues
=boo bag Yams et the emielmes details rathigg to the
meeepoont of tbs Royal BUM lizak."
_ _ _

Pelee Phillips delivered the fourth lecture of
hie alum aa paha at SD Royal Lothatiea as leamolley.
Is SU halm be oeseibeedl the sometive Ilemilema of
strata, the fear et pia at IS at dillwatt pedals,
the (Tamar of awl. EMU peeielie thee occupied during
Se depaellaa of the mho a! amidst& . _ _

CI LIMMIL—he it i. pardectly
usheatesil list Mr Chem Gleedmi eiM as reeme his
perileassimy dribs, Is•merepose hb to
'IBMs art geembas beilik, Me meableissuat Lomb bee
bus lead/ft est la smear eapiesdalke.
• piety see hales le dsit he boa* 1/611 LAM Mall,
msg., recargefet Diessastr, who b ark
_sups*/ is he
tows ; while the Aerate ere yet war sadeiliet as le the
=hails at • peeper ma. or Rados at then=
bob with bow es W. E. Forster,
ae, ars alley • sad it le sadashead lhat as seas
on. sew writ is' ter is the Hesse et Ow&
base, Mr. TereSer will be plead is sembelbs
fie"
tame* lis is set eshsewa le the emeellisisey
by, indeed. te the Mai Rabe grassillq.
iscl deemed advocacy of *my wed@ *lt gift.
eeiserbe bandeige of miteastesee, aid lie essiest
marts to whease the prided bid odd hare.
hiew-.es, have reshred lir. Prawhirta ram&
way esable. Os ell Oiled mat 'NW sselime, Ide
Mew ate bead est eshells. Ni JIM w fen 1114 Mg
▪ edeseties is, lied sod awl have ben
homed v a dole w halt ell, ream ti. hided gar-
dens ateselety. Aserters iodise Mae Mewl pseeriety, ban-
cast_Lll Mr. Dab" ot the Lath lbw% lam rho, it h
pt • beisied" hr the
.losalret
hi. =lab es mot yet his. allowed I. treaspire.—M
Osardier.
Milt W. Ciar's BILL TO Amami Caracu-LATE..
—Oa hiawiar Mr W. Chi's MO wadi Woad to abolish
ebbabosles. Dyer at he three all cheep-nth 1.
easy pule Ihreeglissi Megbelart Mahe es to do.
Ilibellpan hegraft Mlle re.
'hut Wm -ar laboaday the bill
le mead die becaribibg lees sob at lees, tad aie eggsle.
dpitilholisseas, ha, mu h sesier West,.
wiltb fist Sill ease Ws epees-
boa as the let at ant homed poen is.
gives to radium te mom Amiss sd Maud* pr-
ams, ma peruse eleideg balawhi kVA reer be Ind
20e. cosh beton tire *dam

trbe Court.

The Qum ladal a court at 3 think ea Saturday
darasua
Oast t=allthettwdere Marc, had ea
awdldre ewe ftherwry.
Coma Thethur bed
es es reihree42,4lllvered Is the
pritstierwrwlide Rower and Ilislator
lber lie
Owned Almada bid =web ot7io her
MO* bk se Rarylehtertbarywai Waiter
Tr-e=l.milk-61,..36.1-....= by the
Red ettlreatha,6.. dreede odeeteel Secretary of
Illede her NNW Aids
Sir isha Mewls wee peraded to the Queen at an
esithre the Red et Obwerks.
Li Woke MI ea wedlesee, eeid lard heads an Whig
• 10• Mar le the Weed Ihres of
Lines,l Rim 111111 puivill to the Chum by the
Ilmstam et Skis*, Aloha
Pshiesiwllot priki • • Waft minim et a meeting
tte Owereleas ter the Offifbes His
ellewled LlsedewiebOdswi P
=dr the ?due et Wersdrair dim efdeek...."PA;
amledesete mere wew the Me enthredivark lad
tfaeeli Ler Alleas, Lod Oweeker the
et the Laiopir, the NW Raw Sk 3.
Ur" X.P.. Or Alwarrkr digrewew. Voi Seek Wilier
Ordth Or Cloths / laradre. Mr Meth. Ifir lit. Mow
dikes, Yr. Resit
Its. Dtbe. Mr. Ogeek
eittOM NIL MON Itheidwg alerehry).
alleg bedieu efdeth.
The Mae et the Mono of Hohealohe
larthardb, dad the Team &irked how Fier
more rd althea the Quer.
Ear Meer red the Perm, with the Prisms Royal sad
the Mom Aim, tor a eke to the Amer b as egek
eembie nil thew ltderAlreeel the Rea. C. Grey so
Useisaavaoabusi Parra, rierledi ealreedrek.
Prier Ai NM dr Mama Sim awl Lora
ebbed the Dears d Cfleseestr, ee Olierder Rms.
tThe Pares Au Comers lorreethe,
d Reeedektre, Clavier, .I=2ill ray* Iks. Sk Jews dirbew, Zeawl dSe
odes via ilk• grew la the wouldr.
The had d the ClewrilsrOwes=thaki therm •
Owfableote4 " Idereeelle eel
Ilkatinks. •
Weber "Pnielloge earr 11111www,

Ears tordllmolobse, "Lohispia" Tip .=
Priors, " Puri"
The Siorrio pro* lord allorwordo dread hi the
Pram, rad porhorsol Sera,* coroirreires :
Osmium% " L Dosesseb"
Solarissi, " L Pei oraz Chem" Timid
Adogio I=sr.
Airs do Bollot,Alindllomo Toll"
Yeriorday Tooreari kr MoSsty sad So nigh So Promo
01 WAG% illo Proms Sark Mem Al.. sod lho
Primer Adm. dr Ms sod pods= oi dr Ord, rad
the 1 lorroldi @NEM lirrior is So lod•
veto 41120 lrillortm Parr This Wm old 'Soy
Rev. dhoDra of WlSborollidolod

A Cabinet Canall was bails Saturder-
noon at the resimbiare el the First of
the Treesury in Dewniag-areet. Present : Vis-
want Womb" the Lai Ciainesike, Earl Oran-
Mamie of lamigrato, NM of Barrowby,
Sir Gorr Grey, Eael el Chireadea, Lewd Panmure,
Mr. Secretary Lebanese*, the Cheneellor of the
Exchequer, Sir Charles Mood, the Right Hon. R.
Verne Smith, Iced Stanley of Mamie', the Right
Hs. M. T. Baines, and the Dabs ed Argyll.

• illepaWka respreiag the Mailing' Mom Tex gm
bad) bed ea beterview with Viacom* T..... ea lbear-
day. The /apatite:a cosasted of Mr. feriewe
M.P., Mr. D. //we, M.P., Mr. &..11, M.P. (laralek),
Mr. Omer, M.P. (0=1:1146,Mr.mC... twinge,
ceSigkird.Mtriblf m.)L. mi.&
. . Kroft (WOW-
thri)orl Mr. P. 0' Ooesty).
A arias et the Me m& Leris we-
Dir** ot WWI& B. Foster at idrewleie), lee* oroth,
Ridtgoi. iSerw bikoMiltirererVedsasato.../
wesalMorylaw Gawp O. trlssa
Heodle e. depolelleaves tssioel by the F.
H. P. Derteley,
The lewore °embolism UM their thini wad* at
their aro, al 11.. 7, Olt Parowywd, Wethieler, ea
Fridew, Ho UM Ma
Mr. M. H. Toby. et Now lkowowiek, hod as Interview
wkb Mr. fleaseorylabsweers cm flathedey, et the Coloaial-
aro.

&purl tram tie Cruet of Ardtes Liddell v. Wader-
tat" wee reskurod wdaterley Wore the Judicial Cadmium
of the Privy Ceara
Dageldra bin dr Howson ci Curds, Hass Rome,
Caytild.wihreirs: awl Matta, ware racelvad an Saturday at
the

This soraing her Majesty, Accompanied by his
Revel Higlimees Primes Mewl, the Primers Red, sad her
aims Ilibris the ?dims lif liabadtka, pad • vier to
thew Hems d Palkosed. Ms illeserioas vidsors

were noshed by &r Besjambi Hal, Or Marks Barry, sod
other officials.

Viscountess Pahnesston " received" on Saturday
imam at Cambridge novae. Dis Royal Hightmes the
Duke of Cambridge Itomoared her ladyship with him pre-
sence, atria about half poet tea o'clock. Lady Pettotes-
tot tatertaimed a select circle at flaws previa:Lay to the
amembly. Lord Palmerston jibbed the peaty early from the
Speaker's dimmer._
. . .

His Royal Highness the General Commanding-in-
Chit will bold a kneed ono o'clock ow Monday next,

no Marcnia and Marchioness of lfrcadalbane
have arrived at their mansion in Park-lane from Soot/and
for the season.

The Marquis of Bhuulford has arrived at his resi-
dence in Drook-.treat. The ens:chinning fa staying on a visit
to the Marchioness (Dowager) of Londonderry at Wynyard
Park.

The Earl and Countess of Jersey are still at Mid-
dletou, enketaining company, sag will ass return to town
till the 48th.

Viscount and Vim:aunties Newport have arrived
their reaideme at Wilton-creaolat, far UM wawa.
Viscount Wellesley has left the Clarendon Hotel
r Paris.

Viscount and Viscountess Boyne have arrived at
their masks in Belgrave-equare, fur the soma.
Viscount and Viscountess Sydney are expected in
town la a fen days, from Fataseray, Kent.

Viscounteta linngarran and the Ladies Mary and
Louisa Boyle have arrived at their now madame is Chatham-
street, for the steam

Lind and Lady Do Roe are expected in town in a
bw days from Ira Load.

Lady Dufferin is staying at Nix ; Lord Dufferin
Isas strived at the Cleresekse toe the mom

Mr. G. W. 'lepton, M.P., and Lady Jane Repton
arrived at the tediums el the Data of Leine's, on Carlton-
tones, a her days lace, for the seams.
_ _ -

The Han. Hun w: E. Gladstone has issued curds
ha an ...e ell as Thursday wit. _ _ _

Mts. Vernon Smith bu Lamed cards for an assem-
bly on Wednesday next.
Tho Right Honourable the Speaker of the Rouse
of Commons gave his first parliamentary full-dress dinner this
mama on Saturday, the 14th instant. The fullowing pima-
boss of the Howe of Commons were prat Viscount Fil-
aments, G.C.B. • the Berl of Mulgerat, Visessi Kick,
Viscount Dunces:, Lord Ernest Brom, Lord Abbot Paget,
Si. George Grey, Bart., G.C.8., Sir Marisa Wood, Bart.,
G.C.8., Sir Beets:aim Hell, Sir Mamie Beribey, E.C.8.,
the Chancellor of the Isobstissr, the ledge Advocate Gene-
ral, the AtteenerChwasi Si, Leland, the Bev. T. Gamier ;
and Masora Nary Widen, Robert Vein Smith, ma-
ths, Talbot Bah.., Beery newsy, Edward Boast., Ed-
ward Boas" WSBIsa Oidsmongh Hayes, Robert Lowe,
Henry Bei& Massey, Froderiek Pod, Banal Ouse, Jobe
Bail, Darby Semi, James Wane, and George Wade-
grave. The lard Alicia fir Scotia& the AteconerGene-
eel, and is SeiltiewOensral were pew its& by &mode
erbtioa freibeig present.
It is ill (Aimee the Liverpool Albion) that the
ismitiewskas of the Pros Public Lair/ at Limped
is to be hid on the 11th April; that Lard Derby, Lord
Sisolisy, Lori Wirmass, Lord John Ramell, Sir Jobe
Dimeall„ the Mayors of Ilsodustar awl W-
ird, Mr. Cad" emil all the promisee advocates of eds.
mei" are to be lilted, sad that tire wM be a magnificent
dim given to Mr. Wes. Brews, St. George's Hall.
Among the lady Istressmee of the &My rhea ball
yid* is to behold he EA Giserges Hall, Liverpool, on the 9rd
mime, In lid alba tai of the local dispecirise and hos-
pile. me Ws mime of Use Comities of Derby, tin Cow-
bird Esaak the Osentsm if Wilton, the Comets, of El-
ls/man, the Imly Amite de Traced, the lady Arsballa
Heasetb, the lady allidine Townley, lady Cast, Lady W.
W. Wpm, and Kra. W. Brown.
- .

A Paris eceeempterbut of the Independence alleges
that the Otaad Deka Otailaathmt thellato to go to London

wo Iraq as Sir Bobcat Pod ananon a Lora of the Adrinit;
Mr. tlerjeent Mona was sworn in one of the
Bored the Roimpor, in the room of tin into Vs J.
Mammon Sationiq, et the Privy Council Moe, before
the Uri Cloossolior.

SECOND EDITION.

EXPRS6B OPFICE, Momlay Emig. 6.30.

had abaereded with hinds belonging to the Cairn
fief amiss de fee. It was proved that M. Pour
slam, so far front having an interest in spreading
the rumour, was a shareholder in the Caisee, and he
and his clerk having heard the rumour had merely
gone about the Bourse inquiring whether it was
true. The court held that the offence of propagating
false news was not sufficiently established.

BAttJaDAT E.VINI)10,

The Itedependance says thatTthe opening of the
Conferences on the Neufchatel question is fixed for
March I, but I am assured to-day that the matter is
not so far advanced. It appears to be confirmed
that the Swiss envoy was either deceived by the
French government or misunderstood what was told
him when he went away from Paris with the notion
that France was prepared absolutely to guarantee
the renunciation of Neufchatel by Prusaia. The
Swiss Confederation was induced to release the
prisoners by representations which it is now painfully
believed at Berne were not altogether war-
ranted. However, it is little doubted that the
Emperor's speech on Monday will contain a pa
about Neufchatel which will betoken a favourable
solution.

The Peoria do Pas de Calais raises a point of
law upon the subject of " warnings," which has
escaped all the Pans journals. It has hitherto been
taken for granted, that after two warnings suspen-
sion would follow as a matter of course on the com-
mission of a third offence. The Progres, however,
contends that although the minister may suspend a
journal under those circumstances, there is nothing
in the text of the law to prevent him from giving as
many warnings as he pleases. The harshness and
uncertainty of the laws against the prey provoke
more attention just now than they have ever done
since their enactment.

At the opening of the Bourse there was a ten-
dency to realise profits after the rise of the last two
days. Many speculators, having no confidence in
the upward movement, are content with a turn of a
few centimes. Several transactions in premiums
took place, under the idea that the Emperor's speech
will produce a decided effect one way or the other on
Moods ,y The tone of the market unproved a little
tswatda the end, and after some not very considerable
instistka the Rente closed with a rue of 10c. for
anal, sad a fall of 10e. for account, at 68.50
and 68.55. Mobilier fell 12.50. The rail-
ways were calm, and generally lower. Or-
leans, Northern, Western, and Lyons fell
10f. each, and Orand Central and St. Riunbert sf.
each. The Eastern new shares, however, rose
I 12.50, and Mediterranean was rather firm. Tie
Victor Emmanuel shares, which for a long time poet
have been neglected, and quoted from 597 to 1101kten
account of the rumour of a call, were much *deed
for to-day, and could with difficulty be got at tress
600 to 605. It was announced that a general meeting
will be convoked for the beginning of next month,
to consider a treaty for the purchase of the Normal
line and extensions. It is also said that the cm&
tions of the treaty with the Sardinian goverment
for making a tunnel through Mount Cetus at theme&
of the state are very favourable to the company.
It is a curious fact that during the month of
January the amount paid for stamps by the
agens de change was 100,000 f. less than the
average before the exaction of payment for en-
tering the Bourse, while the amount received at
the turnstiles came to considerably less thaa that
ram. So that the Treasury loses mina than
the city gains by the new system. M. If anniasam,
who was a strenuous advocate for the
ass means of raising money, is considered to
outwitted the government. If we may give tin
government of the Tuileries credit for a sincere do-
care to check the universal spirit of gramblV=
Bourse, it could hardly have taken • more
measure for the purpose than this levy of an admis-
sion fee. I know numbers of private individuate,
possessing considerable fortune, who for years have
ban in the habit of going to the Bourse every day,
and who have never set their foot there siseedmary
Ist They thought nothing of making as 111111ftiala
by which they naked the Ices et may rank bet
they shrink from the certain aandfiee of a Item to
enter the theatre of operations. The hell-imague at
the German spas know better than to tax the right
of approaching the green baize. Facilis deseteteus
is their motto, and many a man seduced by the gratis
enjoyment of handsome rooms, good fires, and news-
papers leaves behind him gold which would have
remained in his pocket had even coppers been charged
for admission. It is very likely that the thinning of
the Bourse resulting from the toll will produce
effects which may greatly disappoint the promoters
of the new rule. It woe probably hoped that while
a great deal of small fry would be excluded, the
bigger speculators would find as much scope as ever
for their operations ; but some of these are now
learning that without plenty of way on a I easel no
rapid evolutions can be accomplished. The know-
ing ooes cannot get on without a good proportion of
flats ; and taken in the general, the result of the
exclusion of the pigeons has simply been to dimi-
nish the food of the rooks. Henceforth it will not
be so easy as it was to keep fictitious values afloat,
nor to provoke violent oscillations by. spreading false
reports. This, in a public point of view, would be a
consummation much to be rejoiced at ; but is it what
was intended?