The Northern Daily Times.
Liverpool, Merseyside, England, 1856-06-23 00:00:00

MONDAY, JUNE 23, 1856

MR. GLADSTONE succeeded in drawing an assur-
ance from Lord PALMERSTON on Friday, that
the papers relating to the American difficulty,
together with Lord CLARENDON'S reply to Mr,
MARCY'S despatch, would be laid before Parlia-
ment in the course of this week—" probably on
"an early day." Now we are really at a loss to
know what the production of these memorable
documents can lead to. The world has long since

fread and discussed the whole of the correspon-
dence which has taken place between the two
Cabinets, with the exception of Lord CLARENDON'S
last letter. The history of the Central American
and Recruiting Questions has been sifted and
re-sifted a hundred times, and unless our Foreign
Secretary's last communication is equivalent to a
declaration of war, it can really contain
nothing which will be likely to embarrass
this country or annoy the Americans. The
British Government are in the wrong as we
have said from the commencement of their
embroglio, and the correctness of this asser
tion will be proved by the debate which is
about to take place,'and by the result of a division
in one or other of the Houses of Parliament. The
Cabinet have no friends in this case. The Opposi .
tion who supported the war are ashamed of the
means resorted to for its prosecution; while those
who dread the recurrence of bloodshed, and those
who foresee what the fate of this country would
be if she should be deprived of her American
trade, will not •:support the Ministry, and thereby
give the sanction of the Legislature to conduct
which the British public strenuously deprecate.
The PALMERSTON Cabinet selected the course
they have followed from- many that were open to
them, and if the PREMIER has become like CICERO,
whom, it is said, " was of the eclectic sect" of his
time, he must conciliate his country without giving
renewed offence to a friendly nation. His Govern-
ment chose a dangerous, because it was a wrong,
course, and it remains to be seen whether
the difficulty of the Ministerial position will
be met by a candid admission of an error,
or whether the popular mind is to be
further perturbed by a stubborn adherence
to an untenable interpretation of international law
and public morality. The good sense of the com-
munity at large has displayed itself, on this occasion,
in a most remarkable degree; and while the voice
of the three kingdoms is unanimously in favour of
a pacific policy towards America, it is hoped that
the decisions of the House of Commons will not
be directly opposed to the feelings of the Par-
liamentary constituency and public generally.
Those who talk of war with the United States
seem to forget altogether the magnitude of the
conflict in which they would involve us. We have
all witnessed the gigantic means we required to
enable us to invade the Crimea, One of the most
isolated portions of the Russian territory, and
what would a similar force amount to on the
North American Continent ? What would an army,
of 250,090 men be in a struggle against the States
with their railways, navigable rivers, steamboats,
and all their appliances for the rapid concentration
of numbers ? In America, we have a people full of
energy and resources, equal to ourselves in valour,
and indomitable perseverance

As a maritime Power, the States are as much to
be dreaded as France or Russia. They have
already seventy-five men of war—eleven ships of

Nthe—line, thiffeentrigatel, and nineteen sloops,
carrying 2,092 guns. Their land forces are, how-
ever, far more formidable than those of any country
in Europe. Their regular, or federal army, does
not amount probably to more than 20,000 men, but
they have, exclusively of the States of New Mexico
Oregon, Washington, Kansas, Nebraska, and'
lowa, no less than 2407,826 trained men on their
militia roll. This defensive force is ready for the
field at any moment, and with the vast means of
transit, both by sea and land, they have at their
disposal, they have little to fear from the combined
strength of Europe. New York has 295,563 rifles
for its defence, Massachusetts 142,269, and the
incipient California 208,645. There is no room for
doubting the efficiency and general character of
these large bodies of men, and we should look
well to what we are about before we suffer
ourselves to be involved in a struggle with
such a Power. It is rather a serious matter
to think of engaging in a contest with a people
who cannot have less than 3,000,000 of bayonets to
call to their aid. Sending puny armaments against
such a nation, would be exposing them to slaughter
and defeat; and, can it be possible, that Parliament
would encourage any Ministry in a course which
would leave us open to the chance of being called
upon to make the sacrifices which would be required
to carry on a war on the largest scale ever
known?

There can be no such thought lurking in the
Parliamentary mind of England, and, if a division
should take place on any of the motions which are
about to be made, it is hoped that it will give union
and consistency to the opinions expressed by all
thinking and high minded men, on both sides of
the Atlantic. The Paris Convention promised us
world-wide repose, and the PALMERSTON Cabinet
endorsed the European assurance, and here we
are, in the second or third month after the
flattering pledge was given, compelled to use
all our wits to keep that same Cabinet from
Involving us in a war, which, if it should occur,
can oily be attributed to their policy in
a former struggle. That great uneasiness is
felt in the House of Commons with regard to the
present position of the American dispute is quite
obvious, and its leading members, on both sides,
do not hesitate to show their distrust of the
Cabinet's discretion in the matter, and the House,
before it rises, will, no doubt, record an unmis-
takeable opinion on the subject, for the future
guidance of the Ministry. The anxiety felt
throughout the country by keeping the matter
alive, is doing a vast amount of injury to trade,
and is depriving the industrial classes of many of
the advantages they were led to anticipate frorß the
restoration of peace. These facts alone ought to
induce Parliament to act decisively, and bring the
dispute to a close. The Imperial Senate are not
responsible to party, but to the country in such
cases, and if the interests of the Empire be studied
in this instance, it would be hard to conceive how
the Cabinet, who, while closing one door against
war, directly opened another of a far more
alarming character, can escape a marked vote of
censure.

LOSS OF THE SHIP OCEAN QUEEN, WITH
ONE HUNDRED LIVES.

Intelligence was received on Saturday at Lloyd's which
leaves no doubt that the London and New York Line cf
Packet Ship Ocean Queen, Captain Smith, has foundered
in the Atlantic with every soul on board. There is but
little doubt that like the Pacific and other missing
steamers, it is the floating ice which has caused her
destruction. The Ocean Queen, with 85 passengers and
a crew of 25 hands, left the London Docks on the Bth of
February, and the last heard of her was on the 15th of
the same month off the Isle of Wight, when she signalled
46 gill 4- 13. lelG trio
Thames the same day, and narrowly escaped destruction
by the ice. Another New York packet-ship. the Driver,
which left Liverpool almost the same time as the Ocean
Queen, with many passengers, has, it is feared, shared a
similar fate.

RETURN OF THE GUARDS FROM THE CRIMEA.—The
return of the Guards to London from the Crimea may be
expected from day to day. The procession will be on a
grand scale, headed by the Queen in person—a compli-
ment richly deserved by the gallant Heroes of Alma and
Inkermann.

WAR HONOURS.—The Queen has signified her intention
of raising Admiral Sir Edmund Lyons, Bart., G.C.8.,
G.C.H., to the peerage, by the title of Baron Lyons. The
Queen has conferred a baronetcy on Sir Baldwin Walker, in
acknowledgment of the valuable services rendered by him
as Surveyor of her Majesty's Navy.

CABINET COUNCIL.—The Ministers assembled in Coun-
cil at the unusually early hour of twelve o'clock on
Saturday morning. The Premier arrived at the Foreign
Office at twenty minutes to one. Mr. Crampton, late
British Minister to the United States of America, was
in attendance in the office during the consultation of
Ministers. The Council broke up at half-past two
o'clock.

THE IRISH RAILWAY FORGE Rpm —On Saturday the
Chief Baron and Mr. Justice Keogh sat at the Commission
Court, Dublin, for the trial of James Knighting, charged
with the railway forgeries. The trial lasted from ten
o'clock in the morning until half-past nine o'clock at night,
when the jury returned a verdict of guilty on the first
count of the indictment. The Chief Baron, in pronouncing
judgment, delivered an eloquent and impressive lecture
on the prisoner, and sentenced him to six years penal
servitude.

•
VISIT Of QUEEN VICTORIA TO BERLIN.-The Bourse
Gazette of Berlin, of the 17th says :—" A visit of the
Queen of England to the Court of Berlin, and one of the
Prince and Princess of Prussia to London, have long
been the subject of conversation, and it is now said that
these reciprocal visits will certainly take place. The
Prince and Princess of Prussia will probably leave for
London at the end of July, and remain there for a week ;
and it is thought that Queen Victoria will come to
Berlin in September."

ARRIVAL OF PRINCE OSCAR OF SWEDEN.—His Royal
Highness Prince Oscar. son of his Majesty the King of
Sweden, arrived at Mivart's Hotel, Lower Brook.street,
about seven a'clock on Saturday evening. The Prince
left Folkestone that afternoon, in company with his
excellency Baron Rothschild, the Swedish Minister at
the court of Great Britain, and travelled by the South
Eastern railway to London. On reaching the Bricklayers'
Arms station, the Prince, the Minister, the Secretary of
Legation, and five gentlemen of his royal highness's
suite, entered two of her Majesty's carriages and four,
and drove to Mivart's Hotel, where every preparation had
been made for the royal visitor.

THE INUNDATIONS IN FRANCE.—The news which con-
tinues to arrive of the extent and gravity of the disasters
caused by the late inundations in France, is such as to form
an increased claim on public sympathy and benevolence.
We learn that the rain continues to fall, and that the
waters of the river Loire are again swollen, causing tba
utmost fear and consternation. The extent of the damage
already ascertained amounts to £8,000,000, and our own
Paris correspondent states-that the Central Comm:
for distributing the relief, at its first sitting on Tuesday
last, have announced, that notwithstanding the amount
already subscribed in France, they deem it nece.s'iry to
mak.ems an earnest appeal to public charity, on bch ilf of the
victi. The announcenaect of the meeting in this town
had afforded great pleasure to the Parisians; awl we would
fain trust that the hopes raised will not be blighted, but
that our fellow townsmen will, without delay, open their
purse strings, and contribute with lavish liberality to the
funds intended to meet the consequences of one of the
direst calamities that ever befel a great, a noble and a generous
people,

THE NORTHERN TIMES.---LIVERPOOL, MONDAY.

MONETARY AND COMMERCIAL.

LIVERPOOL, SATURDAY EVENING

There has been no change in the tone of the
Cotton Market to-day. With a moderate demand
and an ample supply prices remain without change.
The sales amount to 7,000 bales, of which 2,000
have been taken for speculation and export.
The Liverpool Share Market has again shown
great firmness, and a good business has been done
at full prices. The market closed very firm at its
best, at the following quotations :—Aberdeen,
131 131. Chester and Birkenhead, 151 151.
Caledonian, 31/ 311. Chester and Holyhead, 16*
164. Eastern Counties, 10 13.16 10 15-16. East
Lancashire, 20 9-16 201. Great Northern, 24
241. Ditto A, 91 10. Great Western, 633 64.
Lancashire and Yorkshire Stock, 953 951. Liver-
pool, Crosby, and Southport, 171 171. London
and North Western Stock, 104 104/. Manchester
Sheffield, and Lincoln, 3l ilk, 311. Ditto New 6
per cent. Pref., 9-16 Ip. Ditto Pref., 111 12. Mid-
land Stock. 81 811. North British, 9 3.16 9 5-16.
North Staffordshire, 6 sd. South Eastern and
Dover, 22 22 1-16. York, Newcastle, and Ber_
wick, 211 215.16. York and North Midland, 291
30. Leeds Capital Stock, 181 191. Buffalo and Lake
Huron, 11 lap. Dutch Rhenish, 1 13-16 1 15-16 p.
Great Western of Canada, 26g- 261. Ditto New
Shares, 33 3 9-16 p. Great Luxembourg, 83 81d.
The arrivals of the precious metals from Australia
and America this week have amounted to the
immense item in the import list of 1 350,5561 ster-
ling, while the export is only 105,7541, as follows :
—From New York, per Canada. $542,630; from the
Peninsula, per Sultan, 1,3331; from the West
Indies, per La Plata, 800,0001; from Melbourne,
per Medway, 38,686 oz of gold and 5,000 sovereigns;
from Melbourne, per George Marshall, 60,000 oz
of gold and 100,000 sovereigns; and from the same
port the Marco Polo with 68,000 oz of gold and
40.000 sovereigns. The items of the exports are
5,2201 ex Madrid, for the Peninsula; 2001 in gold
ex Parana, for the West Indies ; and 190,2341 in
specie, ex Ava, to the East.
The public sales of wool at Antwerp commenced
on the 19th inst., when there was a large attend.
ante of buyers, many of whom were foreigners.
The sales consisted of 2,800 hales Buenos Ayres ;
89 ditto New South Wales ; 30 ditto Cordova, 35
Italian, and 140 ditto lamb's wool. For Merinos
the prices realised were from 2f 10c to 3f 500 in
grease, and from 3f 30c to 4f 35e washed Inferior
sorts brought from if 95c to 2f 85c in grease, and
from 2f 950 to 4f 10c per 3 killo. Sydney washed
wools realised 5f 85c and 4f 18c in grease.
Accounts from the French wine districts report
a tendency to rise in all qualities. At Pezenas
purchasers were anxious to buy, and freely gave
150 f to 200 f for good light wines, 280 f to 300 f for
black qualities ; from 170 f to 200 f for superior
pique-pool qualities, and 150 f for lower kinds, per
hectolitre. Fine white wines from Adassam of
rare qualities are in demand at 1,200 f, and a small
quantity of 1840 vintage realised 1,400 f per 700
litres. At Bourdeaux the prices of spirits are well
maintained. Languedoc 155 f.
The advices to-day from Paris are by no means
favourable so far as regards money and Stock
Exchange affairs. We learn that not less than 40
to 50 failures have occurred in the Coal sse, that is,
among the speculators not admitted within the
tabooed circle of agens de change, who are licensed
Government brokers. More failures still are
expected. The stoppage of M. Place, one of the
agens de change, reported last week, was, as said,
likely to be followed by others of equal or greater
consideration. What is worst of all is the reported
difficulties of the great Credit Mobilier bank, which
has been struggling some time, it is understood,
and has been attempting to get out of its troubles
by a
,juggling issue of shares, representing its inte-
rest in the Austrian Railway contract, which are
repudiated in the money market as legitimate
securities. As the French Government is deeply
implicated with the Credit Mobilier, it has been
coming to its aid by various expedients, but short
of the one great engine of money down, it is not
impossible that we have John Law and the Regency
over again.

The following are the Gazette average prices of
Muscovado Sugar, for the week ending June 17th,
1856, exclusive of Custom's duties payable thereon
on the importation thereof into Great Britain :
From the West Indies, 29s 10td per cwt; from the
Mauritius, 30s lid per cwt; from the East Indies.
oo- oaa erage price of the three fore-
going descriptions, 30s Old per cwt.
There has been a good feeling in the London
Stock Market to-day. Consols opened at 944 to t
ex-dividend, and improved to 94-.1 to 0, at which
they finally left off with a very firm feeling ;
though, as usual upon Saturdays, business was
extremely limited. Consol Scrip 3 to !pm.
Exchequer Bills have again improved ; they are
now at 13s pm. The Railway Market has been
exceedingly firm, and in some instances, a rise has
been established of fully 2 per cent. All the heavy
Stocks are in favour, and a demand is evidently
springing up for the best dividend paying shares.
All the other markets are firm, though business is
inactive. Mr. W. Avens in his circular says :
The favourable character of the Bank return has not
produced any appreciable effect upon prices to-day, but
it has certainly contributed to strengthen and confirm the
improved tone which has been manifested throughout the
week. As anticipated in Thursday's circular, there has
not only been a complete recovery of the temporay de-
cline on some railway stocks, but a further improvement ;
and from the present aspect of the general market, having
relation to our financial condition and the prospects of
the harvest, we have very little hesitation in concluding
that there will be an additional rise on some descriptions
before the close of the current account, unless some unfore-
seen political circumstances occur to obstruct the present
tendency. With respect to the action of the Bank next
week there are two opinions. One is that no movement
will be made for a further reduction is the rates of dis-
count; and the other is that such a step cannot be post-
poned beyond next Thursday. Judging solely from the
published accounts, and from the probabilities of the case
as deduced from the state of the money market, the
action of the Exchanges, the accumulations of specie,
and the general character of our export trade, in
addition tolthe prospects of the harvest, we are inclined
to believe that the rate will be reduced next week.
The state of the money market is such that the Bank
is doing no discount business at all compared with
the Lombard-street hou-es, nor is it making any
general advances worth notice. Its profits are thus
falling off while its unemployed reserve is increasing
every week—this week to the extent of nearly three-
quarters of a million. These circumstances must necesi-
tate a speedy change. The more general features of our
trade point in the same direction. And in the return
published last night, evidence to the same effect is dis-
closed. For instance, it is a maxim in the Bank manage-
ment that, when the reserve amounts to a greater sum
than a moiety of their liabilities, the time has arrived for
a reduction. This is the case now, according to the
return published yesterday. We have thus a large
balance of probabilities in favour of the reductions being
made next week, with little or nothing to set against
them. The question then is, what will be the amount of
the reduction ? If it is only per cent it must speedily
be followed by a further reduction, for that amount will
not be sufficient to bring back very much business to the
bank. However, 2 per cent. is probably as much as can
reasonably be exi ected main the dividends are in course
of payment

Tlie money market continues easy, notwith-
standing a moderately active demand ; and though
the Bank minimum nominally governs the rates,
it is certain that the Lombard-street houses have
been doing an extensive discount business at fully
71- per cent. lower. In numerous instances their
charges remain at 41 per cent. but for the best
class of bills the maximum is 41 per cent. Under
these circumstances the Bank has not yet been
able to recover any portion of this class of business;
but it has been making advances, as it always does
during the shutting of the books, to a considerable
extent on Government securities, and also been
rendering assistance in revenue payments, the
profits upon which will compensate in next week's
return, for the comparative absence of discount
transactions. This state of things however, must
soon be changed ; for the dividend payments of
next month will unlock large supplies of capital,
much of which will at once be transferred to
Lombard-street, to be again employed in discounts,
the competition for which will at once be trans_

LATEST INTELLIGENCE.

Furred to Lombard-street, to be again employed in
discounts, the competition for which the Bank
will be unable to meet, except by means of a

•eduction of at least 1 per cent

LIVERPOOL ROYAL INFIRMARY.--Week ending June 21,
1856.—Admitted : In-patients, 48 ; out-patients, 8
casuals during week, 3. ,Discharged : In-patients cured,
17 ; relieved, and at own request, 10 ; made outpatients,
4 ; irregular, 2 ; dead, 2 ; remain in the house, 184.
House visitors : William Gregson, and J. G. Livingson,
Esqrs. Physician and surgeon for ensuing week : Dr.
Dickinson and Mr. Stubbs. House surgeon : Mr. G. B.
Halford. Junior house surgeon : Mr. Cecil Webster.
Chaplain : Rev. H. J. Garrod, B.A. Robert Hutchison,
treasurer.