The Express.
London, England, 1850-08-07 00:00:00

SPAIN.

MADRID, Anoest 1.
The Duke and Duchess of Ilentpensier vet out this
evening for Seville. The ministerial crisis is over.
The dissolution of the Cartes is settled. The new
Corks will not be convoked before the end of October.
MADRID, AVG. 1 —Three per Cents., 33; after Balsa
33 cash ; 33 1-16 paper. Four per Cents., 121 each. Five
per Ceuta., 121 cub ; after Boise, 121 cash, 121 paper.
Csupor c, 71 paper. Plosives, 31 ; after Bobs, 3 13.16 Gash.
Burk of Si. Ferdinand, 86. Exchange on London, 60.40.

ITALY.

CIVITA VECCHIA,JULT 29.

The papal government has at iast come to the
determination to sweep away the Angie in masa of
rubbish, in the farm of ragged and greasy notes,
which has hitherto encumbered the circulation, and
smothered the commercial activity of this country,
but it is much to be doubted whether the method pro-
, posed for tilicting the herculean task, which is no-
thing die than pouring cut a deluge of treasury bills,
will bo acceptable or useful to the middle and lower
classes of society. It appears from the Minister of
Finance's report, that the quantity of paper at present
in circulation amounts to 6,948,850 dollars, of which
it is his intention to withdraw the greater part in the
course of twelve months, by the substitution of trea-
sury bills for five millions of dollars, bearing interest
at 5 per cent., but not constituting • forced currency.
These bills, which ate in fact so much stock, well
be diaided, like Roman consols, into two
series, one payable only to the person in-
scribed, the other payable to the bearer,
and the whole five millions are to be extinguished at
par in ten years, by annual instalments of 500,000
dollars, the bills so extinguished being ex'rseted by
lot. The interest will be caloulated from the first of
October next. The rate at which this new stock is
to be purchased is established upon a progressive
scale, those who come forward during the first three
months from St ptemher to November having the ad-
vantage of paying only 85 &liars, in notes, for 100
dollars of treasury bills, wt.ilet, in the two succeeding
trimestres, the prices will be respectively 90 and 95
dollars, and finally WO. If this eybiiline mode of
sale has not secured purchasers for the entire five
millions by December, 1851, the remaining bills will
be distributed amongst rich proprietors, bankers, and
commercial men, who will be obliged to pay for them
at par, some consideration being made, however, in
favour of them individuals who are n'ready holders
of treasury bills be• original purchase, and
who will be furnished by government with
certificates to that effect. For the payment of the
interest, and the annual instalment, 500,000 dollars
per annum, will be assigned, besides the 100,000
dollars forthcoming yearly from the regular and
secular clergy and religious corporations. These
500,000 dollars are to be taken from the public
revenue, and especially from the stamp and regis-
ter duties. The deficiency in the state income so
produced is to ba supplied by ntw taxes, required by
the emergency of the times, which the minister pro-
mises will be taken off as aeon as urgent neces-
sity will allow. The only notes allowed to remain
in circulation after the emission of the treasury
bills will be the new ones substituted by the Papal
government for those of the republic, and they will
he gradually extinguished by annual rates, the
600,000 dollars being appropriated to that purpose
i..fter the treasury bills are extinct. A commission
is to be named by his Holiness for the execution
and surveillance of the whole affair, and the neces-
sary regulations are to be drawn up forthwith.

DENMARK AND THE DUCHIES.

A telegraphic despatch in the Cologne Gazette,
dated Rendeburg, August 2, states that General
IVillisen had issued a new proclamation to the army.
Ile states in it that the great works of fortification at
ItAtdsburg will be finished in a few days; that if the
enemy could, with the greatest losses, obtain merely
the termination of a pitched battl•, he (the enemy)
certainly would not dare to fallow the army into its
present entrenchment.
It was said, at the moment of despatching the
above, that an engagement between the outposts was
taking place near Breckendorf, half-way between
Itendeburg and Schleswig.
Another telegraph in the mime paper, dated Ham-
burg, Aug. 5, states that travellers from Copenhagen
asserted that battering-trains were shipped in Russian
Teasels.

Gagero is to eater the Schleswig army, is the capa-
city of major.

GERMANY.

FRANKFORT.

JULY 31.—A courier from Vienna arrived here
the day before yesterday, bearing the Snal answer of
Austria respecting the calling of the Diet. The Aus-
trian government does not feel called on to summon
the narrower council of the Bund ; such a task
appears more appropriately to fall to the existing
plenary assembly ; Austria will, however, execute
the resolutions of that body. It follows from this
that MM. I)etmold and Bolow must pocket their
letters of nomination, and that the Gazettes, which
gave the particulars of the Austrian note, sum-
moning the Diet, was misinformed. Prince
Schwarzenberg his declared to Count Bandissin,
who since the 'trod of July has represented the Schles-
wig Statthalterscbaft at Vienna, that Austria cannot
intermeddle with the cause of the Duchies, and that he
mast apply to the plenary assembly at Frankfort. Such
a declaration is scarcely intelligible, just as Austria is
seeking the admission of all her provinces into the
German Band. Perhaps, however, when this answer
was given, it was not believed that Denmark would
use the treaty for purposes of war; and with the
clearer knowledge of Danish intentions, a more be-
coming language may be addressed to the ambassador
of the Duchies.