The Northern Daily Times.
Liverpool, Merseyside, England, 1857-04-18 00:00:00

of the step now taken, and nartisans of all shades
of politics must deem it the inauguration of a new
era, and a nobler revolution than any of those
which were wont to distract Portugal. ‘'
It requires no prophet to foresee the magnificent
results which a great trunk railway from Paris,
With its outlet and seaport at Lisbon, will work.
The large and increasing trade of Brazils will find
its entrepot here;this splendid harbour, where a
line of battle ship may lie at a wharf at all times
of the tide, will ttg3in become one of the
greatest marts of the western world. The
cause will soon work, and the money,
men, and materials which mast soon find their
way here for these great enterpf.;ses will bring
with them an animation and increase of business
which will last until, with the opening of i!.e raiL
ways, there commences a more enduring prosperitY•
and Lisbon beComes the Southampton of the
Peninsula.

- The Portuguese Government have throughout
treated Sir M. Peto with marked respect and
courtesy. On his arrival he was brought ashore in
the Custom House barge,and this morning there are
three barges—that of the Public Works, that of the
tobacco contract, and another from the Exmouth,
to attend him on board ; and no doubt, if the
ministers had not been up all night, several would
have gone on board to take leave. Before taking
leave of Sir Morton Peto Senor Avila said that all
the ministers were entirely satisfied with the terms
of the contract ; and, indeed, the advantages are so
equally balanced, that all must be gratified.
Whilst I am writing, telegraphic messages are
being despatched to the prdvinces in answer to
pressing inquiries whether the documents have
been finally signed. .
I cannot yet refer to the details of idle terms of
the contract until next packet, but I be:eve the
government pays for the line in stock and otheWise
at a fixed price.
During the absence of Sir M. Peto, Messrs.'
Rumball Sand Medlicott are charged to look after
his interest and prosecute al! necessary business.
No event which has occurred in Portugal for
many years past has created so great a sensation.
The country has evidently benefited by the rains
which have fallen during the last two months ;
the crops are looking well and promise a
bountiful harvest. The stocks of foreign cereals
still on hand are very heavy, and it will be well if
those on whose account they are held can ultimately
close with a moderate loss. The vines are said to
look healthy, but it is premature to say much on
this subject ; hitherto the disease has generally
appeared after the setting in of hot weather, and
until July it is better not to predict about the vin-
tage of 1857.
A feet days ago Sir Morton Pete appointed an
Lour to traverse the railway from Lisbon to Carre.
gade, with the view or ascertaining its condition
and value; numerous obstacles and delays pre-
sented themselves, but wearied with waiting, he
started, in c.-.lmpanywith a companion,on the tender
of an engine, wit:lino further upholstery for the seats
than an ingenious Cfmtrivance of loose coal bags.
All along the line he w:.", greeted with loud cheers
by such English navvies as ;were working there ; at
the end of the line, a larger nuo.l. ben who had for-
merly been much employed under Si,' Morton, were
engaged, and the hurrahs_ followed fa•ter and
faster, until, to the surprise of a wondering CsrOle
of Portuguese bystanders. the men mounted hint
on their shoulders, and proceeded in triumph to
the hotel. Here Sir Morton Pete took the best
posssible care of his countrymen.
In Foreign Exchanges about the usual amount
of business was transacted for this packet. Oa
London the supply of bills was rather short of the
demand, and money remained over at 531 for 90
days' date paper.