The Express.
London, England, 1861-01-14 00:00:00

(Stamped, id. Additional.) [TWOPENCE.

vernment will have to bear of the moneys advanced by hien,
the governor-general, towards the cosetnection of the fac-
tory site at Shames°.
(The rest of the letter is the mire as No. 1.)
3. Communication addressed to Imo, Governor• General li
of the Two Kwang :
The governor-general is hereby informed that on the 11th
of the firth moon the mince signed and sealed a convention
with the English, eontinuise and extending the treaty. PM
6th article provides (here follows the whole article). It
becomes the duty of the prince accordingly to call upon the
governor-general to put himself in communication with the.'
British minister, and nuke with him inch arrangements as
time and the circumstances of the different porta (in his
jurisdiction) may require, on the heals of the regulations
already in force at Canton.
4. Communication addressed to the Governor-General of
the Two Kwang, and of Fuhkien, and Chehkiang, also to
the Prefect of Fungtien Fu, the senior civil authority in
Manchuria proper.
This is identical with inclosure three in form and
language.
J. Communication addressed Lao, Governor-General of
the Two Kwang.
(The preamble of this ilespatch,which relates to the cession
of Kowloon, is the same as that of the foregoing. Then
follows a quotation of the tith article at length. Then]
It becomes the duty of the prince to acquaint the gover-
nor-general of this, that he may depute officers to make
the necessary inspection or partition of the ground, in com-
pany with the British officers deputed for the same purpose ;
and to consider with them and despatch everythiug to be
done in a satisfactory manner.
The lease in perpetuity will of course be cancelled, and
the governor-wend will sot fail to perform everything ea
the treaty reqMrei it should be
tedime. • '
Tim:elad by
(Signed) THOMAS WADI. Chinni ffearetsry.
Note I.—These words have since been cancelled in the
original despatch, which now runs as enclosure 2 on the
manse subject. (Signed) T. WAD/

Received November 2, 1800.
The Prince of Kong makes a communication.
The prince has had the honour to receive this day, about
the hour of 6 a.m., a decree issued by his Majesty the
F.-Tr:trio prince is publishing for the information of all
within [the capital) and without it. He is alio commnni•
catmg it to the governments of the different provinces (or
circulating it throughout the different provinces).
It is further his duty to forward a copy of it reverently
made to his excellency the British minister, for his infor-
mation and guidance in all respects (or that be may in-
form himself, and respectfully conform in all particulars
thereto).

A newsu coma
FAr!

addressed to his Excellency

Hien-fung, line year, 9th moon. 19th day
(November 1, 1860).
[lnclosed in the same cover with the foregoing despatch
was the following Imperial decree.)
On the 15th of the 9th moon (October 28) the Nin-koh
(grand secretariat) had the honour to receive the following
Imperial decree :
" In the matter of the exchange of treaties repotted to
us by Yih Sin (1) Prince of Kong, Fib Sin, Prince of
Kung, having on the 11th and 12th of this moon (24th and
28th October), exchanged with the English and French
the treaties concluded in the Bth year [of our reign, sc.
1858] together with the treaties in continuance thereof
(the conventions) of the present year, we command [that it
be known) that we promise and authorise the operation for
evermore of each and every article in the treaties and con-
ventions, that there may be henceforward no more war be-
tween us (ht. that the shield and spear may evermore rest),
but that both may contribute to the consolidation of (or
unite to consolidate) a good understanding, peaceful re-
lations reposing on good faith without doubt or suspicion on
either aide.

71.;fi.4 the high provincial authorities be directed by
circular one and all to carry out everything that by the
treaty it is essential should be done in acordance therewith.
Itarpect UAL" (Translated by)c
(Signed) THOMAS WADE, Chinese Secretary.
(1) Yih Sin, properly I'M So, but the hat syllable, ac-
cording to usage, has had its sound changed in consideration
of its present honourable employment.

The undersigned has the honour to acknowledge the
despatch of the Prince of Kung, tinder date the 25th
ultimo, enclosing copies of the letters his serene highnesshas addressed to the high authorities of Use coast provinces,
apprising them of such provisions of the convention signed
on the 24th ultimo as require their immediate attention.
The undersigned has also received his serene highomes
later despatch of lest instant, enclosing espy of an
irgereree of the 2fith ultimo, by which hie Majesty the
of China has been pleased to emmakilibes sesessits
sad subject+ throughout his dominions of his entity accept.
atom of the treaties and conventions concluded with Beaked
and France, and directs that full operation be given to their
previsions in every particular.
The undersigned has learned with pleasure that in the
capital every publicity has been given to his Majeety's
decree, as well as to the important instruments to which it
refers ; also that copies of both have been printed in the
form of a Pekin gazette, for general distribution.
The imperial government having so far satisfied its obli-
gations, the undersigned begs to inform the Prince of Kung,
that in accordance with the terms of the convention, her
Britannic Majesty's forces will at once be withdrawn from
the vicinity of the capital.
It in the sincere hope of the tindemigned, that there may
be no more occasion for their employment ; that is the
words of his serene highness, the shield and the spear may
indeed be laid aside for evermore.

It was with much regret that the undersigned, ever the
advocate of peace, found upon his return to this country,
that the policy recommended by evil counsellors to his I
pseud Majeety, rendered a resort to hostilities inevitable ;
that they have proceeded no further he is willing to attri-
bute to the counsels of his serene highness, in whose hands
it will be gratifying to him to be able to report that the
administration of foreign affairs is to contain*.
The objects of his special mission accomplished, the us-
dersige beano further part to play in China. He will be
replaced in his ministerial functions by the Hon. Mr. Bruce,
who arrived in Pekin only yesterday.
Mr. Bruce proposes leaving an officer in the residence
which it has been agreed be should occupy and until this
be in proper order for his reception he will himself reside at
Tieu-twin. _ _ _

It but remains for the undersigned to request that the
Prince of Kung will do him the honour to name an hour at
which he may take leave of his serene highness. The nn•
dersigned will avail himself of the opportunity to present
Mr. Bruce to his serene highness.
signed) ELGIN AND KINCARDUIZ.

Received Nov. 8, 1860, 3 p.m.
The Prince of Kong, Imperial Commissioner, makes a
communication in reply.
The prince has read with pleasure the despatch he has
just received from his excellency the British minister.
Thne does not permit of his replying to it more detaitsdly.
In answer to his excellency's question regarding the hour
at which he and his excellency, Mr. Bruce, could have an
interview this day with the prince, the prince has to state
that he will await [their excellencies] at the Kwang-
liwa-fk, at four o'clock.
A necessary communication, &c.
Hien-fling, 10th yesr, 9th moon, 20th day (dth October,
Ingo. Tnoialated by
THOMAS WADE, Chinese .Secretary.

Tien-Min, Nov. 15, 1860.
My Lord,-1 have the honour to inclose the copy of a
letter from Mr. Adkins to Mr. Bruce, written three der'
after our departure from Pekin, and ahowing that the state
of affairs in the capital up to that period was satisfactory.
I have, hr., ELGIN Ann Kusceemars
The Lord John Roma, Ac.

Pekin, Nov. 12, 1800.
Sir,-1 have the honour to report that immediately after
your excellency's departure on the 9th init., I took posses-
sion of the budding which has heed chosen for the residence
of her Majesty's representative in this city. 1 was assisted
in every way by the local authorities, and one of the ma-
gistrates of the city accompanied me to the spot.
The disposition of the people seems to be friendly enough,
and in my rides and walks about the city, I am as free from
molestation now as I should have been while the allied forces
were before the city.
Report says that Sang•ko-lie-sin has within the lAA few
days been summoned to Jehol, to wait upon the Emperor.
Several days must el►pse before his Majesty au return to
the capital, ea the memorial advising him of a final settle-
ment of the foreign business was only despatched yesterday.
The city gates are meat of them open now, and the io-
habitants, who fled on the approach of the allies, arevetarn-
ing in large numbers. —1 have, lie.,
(Signed) T. Loam.
His Excellency, the Mon. F. W. A. Bruce, C. 8., lie.

Tientsin, November 16, 1860.
My Lord,--I have the honour to report, that in ranee-
quence of the deepatch addressed to me by the Earl of Elgin, !
1 left Shanghai in her Majesty's ship Furious, and 'reached
the mouth of the Peiho on Sunday, the 4th of Novem-
ber. Finding that the unfavourable reports of the
state of affairs, which had arrived at Shanghai
before my departure, were without foundation, I prooeeded
next day to Tien.trin, where I was informed by Admire!
Hope, that the army was to leave Pekin on the 7th or Bth,
and by starting immediately on horseback, I was able to
reach Pekin on the morning of the 7th.
Lord Elgin will have informed your lordship of the
grounds on which it was decided that the ministers should
nut take up their residence immediately at the
was, however, presented to the Imperial Primal:lt ea
her Britannic Majesty's minister in Chins. Be returned
the visit next morning before our departure, and I 11,"
that opportunity to pow strongly on hie ocanderstisa the

situation of the province of Kiaepoo, the feet that_ the pre-
/MIX of the allied troops alone preserved :ftanoai
from falling into the hands of the rebels, and the
imporibility of our occupation being prolonged inde-
finitely. I urged nun him the necessity of immediate
steps being taken to restore the authority of the imperial
government in the province, and represented to him
that he was misled in supposing that our interest would lead
as to hold Shanghai for the imperialists, if the province and
the principal marts in it remained in the hands of the rebels.
I pointed out to him the anomalous position in which I was
placed in upholding the authority of a government which
pursued a hostile and defiant course of policy towards us,
against the insurgent. whose professions and declarations, at
all events, were couched in a friendly spirit. I hinted that
the best means of coontaaating these impremions, which
could not fail to act unfavoura y on opinion in England,
would be to send an ambassador as a pledge of i in-
tention of the Moen)* conduct their foreign relations in
• different spirit.
The prince listened with great attention and interest,
He expressed himself as greatly obliged for information,
much of which was new to him, in terms which certainly
seemed to recognise the benefit his government would
thus derive from direct personal intercourse with foreign
ministers,

Alter e interview, we left for Tung-chow, and arrived
at Tien-tein on Monday, the 12th instant, where I propose
staying for the present.
Before quitting Pekin it was arranged that a house in
the immediate vicinity of the Reunion establishment should
he taken for her Britannic Majesty's legation, and Mr.
Adkins, one of the student interpreters, who hes con-
siderable axmaintance with the language, and is steady
and discreet, was left in possession of it, with
the fall assent of Prince Kling. He is to put the
house in order so es to (sable moat as early date to take up
my residence there.
I informed Prima Rung of my resolution not to accept
any proviucialauthonty as imperial commissioner, to cor-
respond with him or the foreign minister of the capital, sad
of my readiness to proceed there at any amount of incon-
venience, should business of importance require my pre-
serioe.—l have. he.,
(Signed) FRIDIMICIL W. A. BRUCIL
The Lord John Russell, he.

French Headquarters, Tien-lain, Nov. 17, 1950.
My Lord,—l have the honour to inform your lordship
that their excellencies the Earl of Elgin and Baron Gros,
finding it useermary to delay their departure from Pekin for
some days, Sir Hope Grant requested General de Montauban
to remnsu with his force until the ambassadors should be
ready to proceed to Tien-tsin. General de Montauban de-
' dined stopping after the Ist of November, on the wore of
the uncertainty of the weather, but signified his intention
of leaving a battalion of 500 men of the 101st Regiment,
with two guns, as an escort for Baran Gros.
On Sunday, the 28th ult., the bodies of the unfortunate
French prisoners were interred in the Portuguese burying
ground, outaide the north•erest gate of the city. Almost
all the English officers of duty attended. The Roman
catholic bishop of Pekin, and the bishop's coadjutor were
present.
On the 29th ult., at 9 a.m., the ceremony of re-opening
the French Roman catholic church in the Tartar city was
performed. Baron Gros, the two bisho General de Mont-
auban with their staffs, and mad of psthe French °Seers
attended.
The Bishop of Pekin, in his discourse, expressed in grate.
ful terms his acknowledgments to her Majesty Queen Vic.
toria, and the English army in China, for the assistance the
latter had rendered to the cause of Christianity. The
ceremony was much marred b the rain which fell, the roof
of the church being in a very dilapidated condition.
On Thunday, the let of November, General de Montau-
ban started with his force, leaving a battalion of the 101st
regiment, with two guns, as an escort for Baron Gros, and
after a prosperous but very cold march, reached Tien-tsin on
the 6th inst.

His' Excellency Mr. Bruoe passed ua during the night of
the sth instant, en route for Pekin.

onShel2th instant hi Excellency the Earl of Si/in and
Sir Hope Grant arrived in Pekin, and M. de Bourbonlos
from Shanghai. Mr. Bruce returned on the 13th.
On the 15th inst., the allied naval and military com-
manders-la-chief, with the sanction of their excellencies the

, -
plenipotentiaries, agreed that the Shantung Promontory
shall be held in terms of the convention of Pekin as
Übe; viz. :
.. .

" the porta of Chefoo shall be held by a French
force, naval or military, es convenient.
" Y. That the Zdia.Tau Islands shall be held by an Eng-
lish forge, naval or military, ea convenient.
" 3. That such occupation shall cease when the indemni-
ties due by the Chinese government are paid, or sooner if
the Freseh and English governments shall so determine."
It was also agreed that the French flag alone shall
dy at Mateo, and to itegliah fiat alone at the bria-Tau
lalanda

It is General de Montauban's present intention to proceed
about the 20th instant to Shanghai, leaving about 2,000
men and two batteries of artillery here. The rest of his
force is embarking as fast am possible for Shanghai, where
he intends it shall winter, and await further orders from
the minister of war.—l have, &c.,
(Signed) Or. Ocoaar Fourr, Colonel,
Oessmiiskeer at French Headquarters.
The Right Row Lord John Rummell, /re.

FIRE IN THE CONXIERCIAIeROAD ZAN?. —Ye.vter-
day afternoon, about two o'aisek, the inhabitante of the
Commereial.road, near Sidneyestrest, were thrown into a
state of considerable exciteineet In oonsequeure of a fire
breaking out on the premises bekeigleg to Mr. Pigg, a carver
and gilder, carrying on business at No. 4, Upton-place,
forming a portion of the main Onemercial-roed. From the
inquiries made, it appears that the family of Mr. Pigg left
home about two o'clock in theafternoon, and about half an
hour afterwards an alarm was skied that the place was un
fare, and in a few minutes Isaias shot through the first door
windows. Police-constal4eNo. 442 of the H division at once

hastened to the home mid kept the door dosed, and by that
expedient the flames were prevented from extending to the
adjoining homes. Information of the disaster was
promptly forwarded to the engine-stations, and forthwith
the brigade engines from Welklose-square, Jeffreyeiquare,
Watling-street, Farringdon-street, Holborn and Whitecroes-
street depots attended, under the direction 'of Mr. Bridges,
the chief officer of the A district, and engineers Macdonald
and Swanton, but in spite of the exertions made the work
of devastation continued, sod in lees than half an hour the
whole of the premises presented one sheet of same. The
engines,•however, were worked with full vigour, but the
fire could not be extinguished until the premises and all they
I contained were nearly destroyed. The total loss is con-
siderable. Not the bait information could be gleaned as to
the came of the fire.

Comir.Rs' WAGES IN SOUTH
STAUFORDRIULL—Tbe colliery proprietors around Wolver
hampton have gives their men notice for an increase of the
quantity of work which they have hitherto been doing/or a
certain amount of wages. For some time pest the makers
of pig iron have had to disposed their product at so low •
price that, scaroaly any profit has been realised ; in fact,
some considerable quantity has changed hands )at no profit,
if not at a loos to the makers. Under theme circumstances.
makers have looked around to see how their position could
be improved. So great is the competition of new districts,
and so gloomy the prospects of the trade as to the future,
that a rise in prime cannot reasonably be looked for. In
this predicament they have been compelled to attempt to
reduce their expenses. One of the heaviest items in the
manufacture of iron being the cost of the coal, it is
conceived that, the espouses of that article might be reduced
by the quantity of work which the men have hitherto been
performing at a given price being increased. In the thin
coal MUM which prevail, with few exceptions, in the Wol-
verhampton district, • day and a half e work has for some
time
.= been six yards, but this amount of work has been
as • day's work, a miner being able to accomplish
it under favourable circumstances in that time. For this
six yards of "holing" the wages have been 4s. lid. By the
notice now out, the men are required to hole seven yards
instead of six for the same wages (4s. lid.), and the men
who week at stated wages are to receive from :id. to 6d , at
we are informed, low per day than now. The men, it is
mid, are inclined to resist the proposed arrangement. Some
el the notices expired on Saturday week, but for the greater
part they have been withdrawn, only, it is supposed, to
make all expire on Saturday. About 200 men are now out.
—Manchester Guard'', n.

PEDDAIITIONS FOR THE PREVENTION OF RAIL-
NUT ACCIDENTS DUPING THE FROST.--We may state upon
authority that in consequence of the late accidents ou the
London and North Western and other linen, attributable to
the higorific effects of the late intense nod long.coutinued
frost, and which has developed influences on iron work
hitherto unexpected, the directors of the former line have
Net Wased,instructions for an iumeare iu the time of the fast
trains, so as to admit of their frequent stoppage for the Pur •
peas of having all the wheel., coupling', driving gear, and
general machinery, examined by inspectors specially qualified,
and who, throughout the continuance of the frost, will be
Motioned along the line for that purpose. Them steps have
been taken with the approbation of the government &s-
-weeter, sad it is probable that the recent accident', which
constitute ex cooed a new class of usually, will lead to a
scientific inquiry into the whole etuostloti if the themes
metrical contraction and ex pansice of iron work and signau,
employed upon railways, and which it is surmised, in many
instances, may have bean the cause of some of those hitherto
anamountable sue:gait. so often alleged to min from
official carelessness or inattention.
ROYAL VP-roEIA Salami% —This celebrated wine,
consigned ~elusively to the Enropean and Colrain! Wine Com •
piny, of 122, Pali mall, is the established favourite of the wine
drinking common Ity, and. being found In most fwhirmable este.
bitatimcnts, It Is simply necessary to state that u a dinner Ctrs
It stands unrivalled. elitist to the Inralld Its delicate sad soft
flavour Imparts renewed rigour, and produces the most salutary
ailed upon the nervous system. The reduction of duty enable.
Ye &melon of the European and Colonial Wine et,rapany
serer this truly excellent and natural wine at the wonderfully
low price of 7...mitre:veil +drillings per doses, bottles and ensal
solirdsiL-4.ldvertisommt.

§:‘,.....1•111WS HALL 11111TAURANT,
lkosidgeme rad rusidas*
all, Our Prallea. Ladies,
and eastlosm BOXAM Pleedslor.

gut expresso.

Weeded tor Lamm, London
by
st the oebee, 10. SOntoflo.lfool. by Two
enellrei ee W dry of pablaeseles.

MATISAAKIT.

THU Emma. SHE Wil.7ol'S TO—CIiNQCEIL. Mears Chip-
prielele and Ilarkstiver Miss Vainly stirliDa.—And QUERN
Lovalau AND HER CHILDREN . or, Harlequin sod s Hoare
ra Etry. Herr Cule, TheLeckreqs, Miss E. Wright, Vim E. Wickes.

TRU NotArra, TUB COltoleAN norun.4 Yews A.
Arria sued ?..chter —Mot the posioniabo. colkd 11.0131:00,1
l'lttOol or, Harlequin Friday. sad Tat si W Urribbse
Vow.. Aopiouos A Mjus. M. Mr. A. 'OK.*

Mr. 'MO W&
Tow linrolso, Si V WI/Ira .110171VIAL—TIM !ALE OF T.
TIWPIIII A. Winsnand inary: Xis Bactiontisin %Plato.
—And IGNI)Vm I.IN or. the Naughty ley thateried fortbeMoon.
Ahura C. Young A Boltuoce Mimes 31.1,110mliorbert, d Romer.

BRITANNIA.
TIM 11,0111911, THE ►RINCC AND TOR OGRE. Messrs.
PM. Parry. /CM 4.111, Retry. and Newham: MdUe. C. mesphso.
Mr. B. Lam. Mrt Cram/ord.—And A MIMPAOR 1)1 THE
BRA. Mews. leynokts aa4Sne7theon. Mrs. H. Yam

111011 DAT= AT LONDON 11111DOL
Daor —Mseolog, 4L 1a.... Aawasa, 414 Ma.
To4gazow—Na4ai. uk• ow •• • • Me4lNll" /41,-

LONDON, MONDAY, JAN. 14.

Tilt decidedly more satisfactory accounts
brought by the steamer Persia from New York
may be likened to a glimpse of blue sky in a
murky horizon. They mark the first signs of a
real recovery in the American money market.
According to the most trustworthy private de-
spatches received on Saturday afternoon, the
exchange has rallied to 104¢ to 105 ; money was
decidedly more plentiful at New York, with a
downward tendency in the rates ; and the gradual
revival of commercial confidence is further denoted
by a marked rise in the prices of public securities.
We attach relatively learn importance to the
latter feature ; firstly, because movementa in
the stock markets frequently prove very un-
safe guides ; and, secondly, because the rise in
the present instance is chiefly observable in those
stocks for the purchase of which extensive orders
have been sent out from this country. It may,
therefore, be said that the advance is to a great
extent caused by our investmenta ; and the more
extensively these are carried on, the less favour-
able must be the condition of the general balance
as between this country and America. But the
improvement in the exchange, and in the American
money market, constitutes a real pia, and • legi-
timate incentive to confidence. It shows that the
despatch of the two millions and a half of gold
which we have spared from our not too abundant
store is at length, after • delay that caused
great disappointment here, producing its na-
tural effect. We will undertake to say
that the rather long interval which has
occurred between the arrival of the first remit-
dances of English gold in America and the im-
provement in the market reported by to-day's mail,
has been by far the moat anxious period to all in
this country who are intimately interested in Ameri-
can affairs. The result proves that too sanguine
expectations were formed of the effect of specie
shiposents from this side. It was broadly smarted,
ever and over again, that they would all end in
certain lose to those engaged. These rash opera-
tors were warmed to remember the experience of
1857, when, es it is now alleged—though with
what warranty does not very clearly appear—the
whole of the gold sent to America ease back at a
heavy low. But although the firma possessing
the best information and the largest experience
were taken thus roundly to teak, the result
shows that their commercial sagacity was not
at fault. Connexions in America—America her-
self, as a nation—have been assisted at a moment
of pressing need. As, under ordinary circum-
stances, the specie current constantly sets from
America—a peat gold-producing country—to
Europe, little doubt can be entertained that, in
the course of • few months, the whole of the gold
which we have sent out will be returned to us.
But this will be the cooaequence of a fresh series
of commercial operations between the two countries,
and in the interval the English gold will have per-
formed its beneficial work.

Strong hopes will be excited by to-day's accounts
that we have experienced the worst of the effects
of the American pressure, and that there will
now be a gradual slackening of those shipments of
specie which, though at first represented as un-
likely to have any effect upon our market, have
carried our Bank rate of discount to 7 per cent.,
with an imminent prospect of 8, had one more
packet come in with adverse accounts. The wider
the view we take, the more hopeful are the infe-
rences presented.
The result of the reforms which America has
soddenly, under the late stress, introduced into
bar commercial relations with foreign nations is,
that gold is streaming into the country from every
quarter, particularly from England and France.
In addition, America has at her back California,
with which, unlike our system with regard to our
gold-producing colonies, she keeps up a regular

. . -
communication, every homeward packet bringing
large consignments of the precious metal. This
is a sure source of supply of which America has
at present the sole advantage. Putting these
considerations together, there is ground for look-
ing, at no very distant period, fes the announce-
ment that there is a glut of gold in America,
and that money is • "drug." This state
of things may be arrived at long before
confidence revive", or before trade resumes
its usual activity. Such an accumulation
of idle capital will not be • healthy indication. It
will signify a want of exercise, and • consequent
plethoric condition of the commercial body. One
of the interests which will probably profit chiefly'
will be the holders of American securities, lately
so depressed ; and it is very possible that England
may pick up a handsome profit, for she hes been
the chief buyer of those securities at low prices ;
and the Americana, when full of money, will be
glad to employ it in their own investments at
prices very different from those at which they
sacrificed them when they were short of money.
There then remains the question—how far will
our money market be affected lit the drain upon
the Bank of France T The nears lamed on Friday
by that establishment MUM the correctness of
the fears which have been excited by the improvi-
dence sad divergence from economical rules wit-
nessed there. A decrease of 3,285,0001. in the
stock of coin and bullion ins single month, making
a total decrease of nearly 8,000,0001. sterling
within five months, indicates that the position of
French finance is becoming as serious as at any
time within our recollection. It is the more
serious becadne even at this ramornt. when
caution and restriction ought to form the

raiding rule of the !rasa Bank, it remains
elesiigely deaf to all bat the most popular coun-
sels, and persists in largely expanding it. note cir-
illation. The total of the latter is now no less
than 31,150,000/., whilst the coin and bullion
amount to rather less than 14,000,000/. Seeing
how little the policy of the French Bank accords
with sound banking principles, and the tardiness
with which it has adopted the judicious step of
raising its rate of discount, we shall perhaps do
well if we alter our attitude of vigilance only so
far as to stand as well prepared against demands
arising from France as we have latterly stood
against those from America. .

Meanwhile, amid the crises in the foreign mar-
kets, sufficient attention is scarcely given to the
singular absence of agitation here. The calmness
which prevails in monetary and all other circles
forms a most remarkable contrast to the disturb-
ance that has arisen at former periods when trade
has been unsound. Commerce has been subjected
to a severe ordeal, and has borne it unscathed.
Had not the condition of business throughout the
country been unusually healthy, it could not have
borne the pressure as it has done. It is very for-
tunate that the speculation in the leather trade
exploded at a convenient moment. Had the col-
lapse come at a time like the present, when
,anxiety is widely diffused, the prejudice occasioned
might have been much greater.
rh
accounts received from most of the internal
seats of industry during the last week have been
less favourable than for some time peat. Some
effect is produced by the rise in the value of money
and by the caution observable in financial quarters.
There is also a marked falling off in the number of
Continental buyers, whilst those from America are
almost entirely absent. In the hosiery, lace, silk,
hardware and iron districts, the number of work-
people only partially employed is increasing. The
iron trade is particularly depressed. Added to
this, the extraordinary intensity and duration of
the frost have put a stop to many outdoor avoca-
tions, and inflicted sudden, though, it may be
hoped, merely temporary privation upon a not in-
considerable class of the working population. We
fear it is said but too truly of the majority of the
working classes, that the higher the wages which
they habitually earn, the less they put by for "a
" rainy day." It is only in this way that we can
account for the complaint" of extreme want sud-
denly made by a clams of labourers who usually
motive a rats of pay far above that obtainable in
any part of the Continent. It must not be ima-
gined, however, that there is anything like wide-
spread distress in the country. The cotton,
woollen, and other great branches of manufacture
continue satisfactorily busy. Had not other
counteracting influences been in operation, many
departments would probably ere now have
derived benefit from the more favourable
character of the advices from the great markets of
India, China, and Australia.. In the extraordi-
nary briskness which prevails in every department
of business connected with the raising and car-
riage of opal, and in the renewed activity and
buoyancy in the Liverpool cotton market, we
think we have exhausted the prominent features of
ocessnervial interest presented during the past
week.

nt eon.

WINDSOR CASTLE, JAN. 12.

The Queen anti Prince Conmort, accompanied by
he Prism of Wales, Pnaco Alfred, Macro Alio', Phan
Adam, Primo Unpaid. Primo Haws, Primus Louisa.
rot Prow drain*, lett Osborne, at half-part tea o'clock
thie fonekoom, and arrived at Wisdom. Ofielle at two.
la attendance were the Omsk= of Galaeberoogh, the
Boa. Lucy Ken, the Hoa. Mary Bulled, Woad the Hon.
B.C. Phipps, Cc' &owl the Has. A. N. Hood, Major Du
Mat, Mayor Cowell, Major Elphinstooe, awl the Master of
the Hoosolsoid.

Lord Cemoys sad Lisatemet-Colonel )(impede have
arrived as Lord aad Grams is Wallin.
The Qum and Priam Ceased, the Prime of Wales
Priem Alfred, sod Prisms Alice, walked to Frogmore in
the aftereeem sad visited the Durham of Kest.
Leeddellatiey, Colossi Pomosby, sad Major Teesdale.
seiresed ben Barba la the eveolas, after atteadiag the
hued ef the late King of Prude at Potsdam, oa the part
ef Nor Majesty, the Prince Chased, sad the Prince of
Wain.

novo was no addition to the royal dinner party.
80NDAT.

The Owe aad Pita°, Cowart, the Prince of Wales,
Prins, Alfred, Priapus Mice, Prince Arthur, Princess
Bekaa. Prison Lambe. sad Prises Leopold, the ladies and
rsl elt the seen, sad the Hectic household at-
tended Divhee service thie iambs is the private chapel
The Bev. H. J. frame, view et Wlaikor, preached the
savesa. The Hee. tad Very i.e. the Dean of Winilaor
raniebessed the hely me weed.
Xs* Ds Plat bee MA the Deeds, Colonel Ponaosby
banks vaimeed his duties es Equerry in Waiting to the
Prime Caret
Hi pof the Gambridge Uoiverity Covon.isstioners

wen beast 6, Adelpati-ternce, on Wednesday, the 9th,
and Thereday, the 10th fast. The Couraissiouers prier
were She Bight Rew. the Lord Bishop of Cheater, the Right
Hos. the Lord Justice Turner, Vioe-Chancellor Sir Wm.
Page Wood the Rev. Dr. Vaughan, and Horatio Wad-
dington, Bs9•
Deratebes were received ►t the Coloarl.onice oo Rater
der) been the Cleverer' of (lima Loose, the Gambia, sad
the artiressie es the Geoid Cart, Larsen, New Zealand,
Malts. and Corks.