The Express.
London, England, 1861-09-02 00:00:00

BRITAWBIA.

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LONDON, MONDAY, SEPT. 2.

TO OGR RIADERS.

- -•-
SPORTING INTELLIGENCE.

A !ate edition of this &press v publi,hed every
eveubts tiering tha racing 1141/OD, cuorainiug the
results of the drys masa.

Tile appointment of Lord Mowee as flovernor-
ffeneml of and the despatch of an addi-
tional brigade of troops numbering some 2,500
men to that province, naturally challenge atten-
tion. What, the peculiar qualifications of the
Irish Viscount may be for the office to which he
has been appointed it is impossible to say. Ac-
cording to the opinion of many, the first essential
for a Colonial floveinor is hereditary rank and
high social position in the mother country. An
Irish Viscount is scartely equal in rank to an
English Itar•on with a scat in the Douse of Lords.
lint probably those who estimate the merits of
Governors-If:uncial by their station will consider
the present appointment by no means unsatis-
factory. It may be that the new Governor-
Genseal will prove himself as able in the iiiiiname-
sent of Canada as his predecessors, Lord
Leas or Lord Mar sLis, though it would
be difficult for the most friendly critic to
detect in his Parliamentary career any indica-
tions of extraordinary merit. It is true that the
nobleman in 'testate' has scarcely been allowed
the opportunity of exhibiting his statesmanlike
veiling& Without unfairly depreciating the abi-
bty of a man who can vote steadily with his party,
and can perform the duties of a Junior Lord of
the Treasury, it can scarcely be assumed that the
mast who shows lomat( able to fulfil these duties
aboukl &bribe aulutofill the office of Governor-Ge-
neral of a great Province. A Governor-fleneral is a
great officer. He is, in fact, the constitutional
monarch of 3,000,000 of men. And the whole
history of Canada—particularly the transac-
tions of last autumn—is enough to show the dif-
ficulties which beset the path of an impartial Vice-
roy. Perhaps Lord Illosee powerless a store of
political sagacity equal to every emergency. Time
must show. t►r perhaps Lord PALNFIIIITON may
have found it necessary, in order to keep his party
together, to reward his stanch supporters with
valuable appointioeuts such as that in question.
lint must assuredly if able men are necessary
for ruling our colonial empire, the great prises
of the service ought to be bestowed upon
very different principles. In the colonial, as
in other professions, there should be promotion.
It cannot be supposed that men of real ability
will submit to be exiled from home, and to spend
sours of the best years of their life in some
dreary settle mcnt without reasonable prospect of
improving their position by being transferred to a
higher sphere of duty. The histories of Lord
Mir stir. and of Lord ELGIN show that success
in 000 colonial government is no unfair teat of
probable success in another, and the importance
of advancing those who have achieved success can
scarcely be exaggerated. It would be unjust
to condemn a man before he has been tried. The
Duke of Newesirrui may have means of knowing
the merits of Lord Monet: which are certainly
beyond the reach of the public. It is from no
anticipation of failure that the appointment in
question should meet with condemnation, but it is
because it violates that principle of promotion
which is essential to maintain the efficiency of the
Colonial service.

Tux difficulties which prevailed in the money
market dnr;ng a period of nine or ten months,
and which were occasioned principally by the inor-
dinate scale of our imports, have vanished now
that the cause is partially obviated. It seems to
us that the statistics of trade are a good deal mis.
interpreted. Attention is concentrated upon the
statements relating to exports, whereas far more
importance attaches really to those relating to
imports. The former have a comparatively remote,
the latter an immediate, bearing upon the money
market. To illustrate this—if we send five mil-
lions worth of goods to India or Australia, the
immediate effect is that that amount of bills is
thrown upon the discount market, causing a some-
what increased demand for money, but, probably,
no pressure ; but if we import five millions worth
of corn, the immediate effect is the exportation of
nearly that amount of gold, and a very serious de-
rangement of the whole system of finance, of
which a considerable rise in the rates of interest is
one of the most prominent features. To under-
stand the phenomena of the money market, and
to arrive at correct conclusions respecting its pro-
bable course, it is really only necessary to concen-
trate attention upon the progress of our foreign
expenditure. Commercial matters may be re-
duced to a very simple and intelligible form : the
outlay of a nation is regulated by the same in-
fluences and attended with the same effects as that
of a family or individual. If Paterfamilias is
suddenly called upon to make a large and unex-
pected outlay, his immediate means will run short.
If a nation, which is merely an aggregation of
families, is suddenly brought under the necessity
of buying grain to an unusual extent, the effect is
the Now, during the last nine months, we
have been spending an enormous sum abroad for
grain and flour, with the financial consequences
that were naturally •to be expected. For the
aix months ending the 30th of June in the last
three years, the imports of wheat were as follows,
as stated in the returns published on last Friday :
Ike mouths of IA.SO 5.4.712,5.10
Peio
10,:44,W
The incre..es over last par Was no less than
6,788,5551.

Of barley, oats, boo; posi, mod Indian corn,
the six months' imparts wee :
_ _ _

Six motto of ireo 1,2,511/170
„ MOO 4,111.619
IMI 5.104.534
The inereaee over last year was 1,217,9151.

The Imports of Sour were :
Six ax.niti of IN* s,l,6dosts
moo 1.16.9.7u6
PIM tesivise
The increase over last year was 1,828,8491.