The Express.
London, England, 1868-02-10 00:00:00

Zhe erameoo.

TO CORRY, ro NPENTS.
Mandiminente Intended for •• The P:tpreet," London Itvenfog
=lAmost be at the Oface. Botiverie-atrwit, by Two
OW She day of publication.

Tm Evoinia, TUE BetoKr—N-11EAKTED CLUB.—A WIFE
WELL WON. *was. Sotham, Backstone, Howe, Kendal.
=Braid. Wastheraby, .I.e. • and Miss Robertson.—Alter
IN UTllat P/IXVILRSIOI.I UV TBB BKIUAND.

PILTNCE.SrS
Ten Intorno, THE OCT.IIIOON. Mr. and Mn. Dim Bead-
esedt. Mr. .I. 8. Clarke, Mr. Vining, B Mins:4lMM% —After which
ARRAII NA POGIY,. Mr. end Mrs. T. lleoeicault, Mr. Vining,
Messrx Murray, Neville. B Ftb,.re this Itsrnett and Mrs. Addle.

RTILAND.
TUN riming°. OLD SALT. Mr. Lamy and Miss Nell? Moon.
...Attar ''bleb TUX CALIPH tot, BAGDAD us. Thome
sad Jenne; Mesdames Ada owanborough, Janstous,
Bon, dc.—Asd COAL AND U)k

EULITANWL.
This Frrwnia, UPSIDE DOWN.— DON QrIXOTIL We. 8.
Lae, It Mimes Edwin and Booth : Peatendmists Mesas Law.
Louts, Newham, earl Victoreill : Mdlie. C Stephan ivid Wu Lee
Nathiui.—To comlade with 111.8 PRALII,IE FLOW.EIt.

HIGH WATE3. AT LONDON =IDOL
!ail —Korniss. n.: is.......Aftenme. Sh.
to•Momor—licirshai, 4n. 3s.._..AUßmoo. 2ad

LONDON, MONDAY, FEBRUARY 10.

THE inquiry challenged by Mr. DoruroN,M.P.,
and which has recently been conducted by a Com-
mittee of the Metropolitan Board of Works, has
resulted as we anticipated in universal dissatisfac-
tion. The Committee have reported a mass of
evidence, taken, as they submit, " under diffi-
" cult cimumstances," during which, in the words
of one of their number, they heard things
"entirely sensational ;' hut they express no
opinion upon it. A shorthand writer attended
their sittings, and all the statements made by
voluntary witnesses, without the verification of an
oath, they have put in just as he took them down.
By a resolution of the Board this evidence has
been entered upon its minutes, but its publi-
cation is a measure from which that pru-
dent body shrinks. At the meeting of the
Board on Friday a long discussion took

place, which grew confused and ended without :v-
-ault. A resolution declaring that the statements
made in the Court of Bankruptcy by Mr. FURNESS,
the contractor, to the prejudice of Mr. Dot-T.-
2os had been proved, and an amendment to the
contrary effect obtained an eyial number of votes,
after which a 1111Inber of divisions took place, and
110 positive conclusion was arrived at. It would
have made no difference had it been other-
wise. What the public want is not the
opinion of the Board in a matter which so nearly
concerns its own reputation, but the evidence
which inigla enable it to form an independent
judgment. Mr. Dov vrosi claims that the explana-
tions given by Mr. Fui:Nr-ss exonerate him
entirely, and he pmt,ats against the action of
the Bard ; hot until rho facts are clearly placed
before the public in au authentic form it will be'
impossible to come to any conclusion ou that sub-
ject. Fur the sake of the ratepayers of the
metropolis, the matter must not be permitted to
rest here.

TUE lint six woeks of tho now year have paned,
and they have been accompanied by few of the
hopes of a revival of c..meterce which character-

ise-11 the commencement of 1867. At that time

it WWI generally stims.od that, according to a
well-used metaphor, the storm of Is64i had
clearefl the air, and, by sweeping away the un-,
sound companies which had brought so much
loss and discredit on the mercantile community,
legitimate business would be at once the gainer.
There was much to fa vwxwr this view-. It had

above all the warrant ,if experience. Mercan-
tile crises have, unhappily, not been infrequent
in England ; but while pressing sharply and
heavily for the time on those traders who united

consolation, that it will surely return before long.
The question is merely one of time and endur-
ance.
There is little favourable to be mid of the pro-
spects of commerce abroad. Even as our own
crisis of 1866 has been slowly dragging on for
nearly two years, so the difficulties of the Credit
Mobilier in France are likely to last for even a
more lengthened period. Again, the harvest is
admitted to be bad, in well-informed quarters,
worse than the worst accounta hitherto pub-
lished. In Algeria there is acknowledged to be
absolute famine. A misfortune of this sort—
however serious it may be—certainly entails upon
a rich country like France a heavy temporary
pressure, but no permanent drain upon her prac-
tically inexhaustible resources. The most im-
portant point to be considered is the effect of the
future military system. Looking at the question
simply in a commercial point of view, there seems
a certainty that the producing power of France
will be diminished, and with it necessarily the ex-
change of commodities abroad. Already the French
Protectionists are agitating in favour of a repeal
of the Commercial Treaty, and they will hardly
fail to make full use of an argument drawn from
the statistics of declining trade, however perverted
it may be. The bad harvest also affords them in-
directly a further lever to enforce commercial re-
trogression.
As regards Germany, we need hardly look for
any material change. Although in some parts the
harvest has been deficient, our imports of corn in
1867 up to the latest returns have been consider-
ably in excess of 1866. We may certainly anti-
cipate doing a good steady trade with North
Germany, but not more. The new Confederacy
is going through a period of transition which is
nearly surmounted, but as long as it lasts mercan-
tile men habitually exercise caution.
Where, however, we may look for increased
trade is in the extremes of the East and the West.
The United States, for example, supplied us in the
eleven months ending in November with a much
larger quantity of wheat in 1867 than in 1866.
The same with Turkey and the Danubian Princi-
palities, Egypt, and Southern Russia.
Upwards of two years ago we were threatened
with a commercial crisis on account of the increased
business done by this country with the United
States. The convulsion never happened, not-
withstanding the most solemn warnings against it.
Perhaps the American press may, in their turn,
warn their own countrymen now against increased
exports to England, but this is hardly likely, since
they are apt to learn by experience. With re-
ference to the imports from Turkey, it is satisfac-
tory to note that after two years of bad harvests
the farmers in the Principalities have in 1867
secured a more than abundant crop, and their
profits, especially in sending corn to France, have
enabled them to invest to no small extent in the
Danubian Loans negotiated in London and Paris.
The inference is obvious, that the native popula-
tion have themselves no fear of the future of
Moldo-Wallachia.

OUR CONTEMPORARIES.

(THIS DAY.)

THE EXPRESS, MONDAY EVE:

.itch is thickly plated with
is a Basil in herself. •