The Express.
London, England, 1857-11-02 00:00:00

DAT

Fr7.d until the eatpireriondif the twe yeah which
aillestall in thar•testals of the Paean. Whis an say
what may not happen in two years? We cannot
help thinking that the Minister has not set apart •
salllcient reserve for those unforeseen contingencies
which in France so frequently entail large draughts
upon the treasury. For instance: the estimated
suples of 1859 is 1,920,0001., and as M.
Maoris so magnanimously hands oveo—we mean,
at present intends to hand over-1,000,0001. to the
sinking fund, the reserve will be reduced to
320,0001., a sum absurdly small ocaripared with the
enormous figures comprised in the Budget. It is
true that M. MAcNC points oat that the sum repre-
senting the inertias in the taxes will be also avail-
able to meet charges at present unforeseen ; but •
prudent Minister, knowing from past experience that
then " unforeseen charges " are invariably heavy,
should scarcely omit to make other provision than
that derivable from the increased produce of taw
tint two years hence.
Another very important section of M. MAONE'II
Report is that in which he refers to the position of
the floating debt. Here we may notice the dexterity
with which he evades stating the present amount of
that debt. The only information afforded on the
subject is contained in the remark that it is this debt
that has furnished the serious amount of 35,440,0001.
which represents the accumulated deficit of former
years. It is also remarked that to this 33,440,000/.
must be added the 3,120,0001. which was advanced
in 1852 by the Treasury to reimburse the holders of
Five per Cent. Rents who refused to accept the con-
version into Four-and-a-Half per Cents. M. MAGNI
reports that " by means of the legislative combine-
" time voted last session, and of the treaty con-
" eluded with the Bank of France, the floating debt
" will, in a abort time, and without any shock, be
" reduced to about the sum of 760,000,000 f.," or
30,000,0001. sterling. " This amount," be remarks,
" has nothing excessive in it"—an assertion in
which we really cannot agree. The Government
which enjoys the best credit of any in the world—
we mean our own—confines its floating debt to not

much more than half the amount mentioned, and
finds the handling of this portion of the national debt
so difficult that the advisability of further reducing it
isbeeoming daily more apparent. If the. French Govern-
ment really aspire to institute a well-ordered system
of Finance, the movements of which may excite legi-
timate confidence by being comprehensible to the
public, the pruning knife should undoubtedly be ap-
plied to a much greater extent to the floating debt.
It would, therefore, be only prudent to apply the
1,800,0001. promised in 1859 to the reduction of the
floating debt, rather than to redemption of the
Renter. A curious feature of this section of the
Report is the anxiety evinced by M. MAONE to fling
upon previous regimes all the onus of the deficits
which have led to this perilously increased floating
debt. He draws especial attention to the fact that "the
" Budget of 1847, the last of the Monarchy of July,
" closed with a deficit of 257,000,000 f. (10,230,0001.),"
and that " the deficit of the Bridget of 1851, the
" last of the Republic, exceeded 100,000,000fi
" (4,000,0001.)"
But perhaps the most characteristic feature of the
Report is the entire absence of any allusion to re-
trenchment in the notoriously extravagant Govern-
ment expenditure. A highly coloured picture is
drawn of the expanding commerce and increasing
prosperity of the nation, but no reduction is to be
allowed in the military and naval establishments,
the cost of which so severely tries its energies. The
idle magnificence of the Court, too, is still to be kept
up, and rich pests must of course be found for its
dignitaries and pensioners, even if they have nothing
more to do than to take a place, now and then, in
some state ceremonial. Upon points like theso—
points which have long excited the satire of the one.
mies of the Imperial regim, and the sorrowful com-
ments of its friends—the MINISTER of FINANCR
breathes not one word.

We read in the Lirerpool Albion —" The bom•

bardmentof rerown la a subject psinfal to the redaction of all
right-minded men, both in lingland and the United Stake. The
facts are now familiar to the public, and we shall not repeat
them. On Saturday Sir Wm. Gore Ouseley, K.C. B , sailed
I fig America in the Arabia. It is understood that he le en-
trusted with full powers to strange this delicate question
with the President of the United State*, and ano the other
vexed questions relating to Central America end the
Mosquito Indiana. In making this appointment Lord Pal-
merston has wilected a minister not connected with his own
political party, bet connected with the United States by
means of his wills, who is the daughter of an Amnia.
chine, Sir W. 0. Onseley le • gentleman who has acquired
considerable reputation as • statesman and a pacificator, and,
as he is elm a personal friend of Mr.,luchancia, our brethren
in America cannot fail to see that Great Britain approaches a
Peden:. tof this unpleasant affair in the most friendly spirit,
and through a most conciliatory agerney."
TUE MEDITERRANEAN TELEORAPII.—A telegra-
phic communication, dated Cagliari on Friday tenting,
from Mr. Newell, the manufacturer of the table, aye:—
"
The cable has reacted Spartivento, in Sardinia. The
operation wee accomplished with Enke success. The com-
munication with Africa is perfect." We may congratulate
the promoters of this important enterprise that, after more
than one failure in the attempt to lay down their fine, they
have obtained the reward of their pereemesnoe. By
this MOM the French Government have a di-
rest telegrephie communication with their Ablaut
. . . .

premonitions in Algiers. The cable on leasing Spezia'.
is carried under the sea to the northernmost part
of the island of Corns', which bland is eromed overland.
From the south of Corsica a submarine cable crown the
strait' of Bonifseio, and is landed on the north of the
inlaid of Sardinia. The telegraph misses the island, and
is submerged at Cagliari, or Cape Spartiyento, the most
southern pert of Sardinia, and than passes under the sea
to Boos, on the Algeria' territory. The difficulties ht
laying the line across this latter portion have been very
great, owing to the inequalities of the bed and
great depth of the waters of the Mediterranean. At one
part the depth to which the cable fe lowered le not
more than ninety fathoms, and the water deepens Lai-
medistely to ewer 2,000 Gahm :a. or nearly two miles end •
half. This congeny her a paid-up capital of 300,0001. Of
this ram 6 per amt. Is guarenteed by the French government
for fifty years to a ram of 180,0001., Francis rarefying by the
line certain privileges connected with the transmission of
government dispetithee to the bland of Corsica and its colony
of Algiers. The government of Sardinia gives a guaranies
of 5 per cent. en the remaining 120,000 f. of their capitol,
laving the in end metro' of the line over the island of Sar-
dinia, woven se the communication with Turfs.
Tux bIDIAN MAILS.—On the sth inst. the Bom-
bay awl Calcutta packets will be due at Sues, with news
tram Weans up to the 10th of October, and from Bombay
up
to the 17th of that month. This news should reach Lou'
dos. aid Teethe, on the 12th inst. By the teat packets
Delhi wee 30 der' post from Calcutta, and 11 day. from
Dosehey, end Cawirpon was six day. poet from o Csk-u
There wan rthelderable delay in the post reaching Cahutta
mod thethey treat Delhi for the teat packet., on account of
the mother state of the intervening neighbourhood. If
Lethimew was relieved at the Um it was ea-
be, it would probably be about 7
digsrftite or
toes three to Calcutta. It is resale
Sot the test Wines Delhi sad Calcutta or Bombay might
M skim thistemegleme thee by the last account., sad that
It might be wig deal sr nine drys' poet between the former
ear me of the 305 w be plena Lsoknow we expeeted to
be relieved en the filth et listhember. It is probable, there-
fore, that*, the Nth tweeselswe may have new. hem
Delhi up to a hearSahle It was sestared, and bum Loch-
ner sp to amity a sad it mos relieved. This Wit
vadeshotin
will
be Ineadmat sod Interesting, for it
will sot Solibla Or bras thaw captors of Delhi
end meet it Se Midst Leather, and such m-
asa& of the of the fewthweee ae will enable es to
Judge hew Yes they Ile le alre le Ve team
L atie padre. that wo hies ea
rTALruiktelignma eta &dials ia eaddlefelas ot t sews by
nblzt mud, sent liontle_y, *At le eh lie IS led
brine RELIT) Irrah.—The r. 5 Wads up
to Saturday show that already the meat setwerlbed for the
relief of the edam by Se Seta Intim monde WO*