The Northern Daily Times.
Liverpool, Merseyside, England, 1857-01-22 00:00:00

iNbRVIERN TIMES.---LIVERPOOL, THUitSDAY.

o'.Cointuerciai Zait6.-171,)8 Pap.

At twelve o'clock, at the brokers' office, 23, Oldhair
street, 1588 bags Rangoon Rice, all faults.—Gladstone
and Sedeantson.
A. twOve o'cleck, at the brokers' office,- 18, flackin's-hey,
Bengal, Arracan, add Larong and S. H.
Sleigh.
1,431 bales Wool.—John Greame and Co.
At one o'clock, at the brokers' office, 4, India•buildingq,
Water-itreet, a quantity of Wines and' Spirits.—R.
W. Preston and Co.
At twelve o'clock, at the public saleroom, Exchange.
buildings, about 360 packages very valuable damaged
hlanufactured_Goods, consisting of Woollens, Linens,
t Carpeting Blankets, Linen Thread, Printed and Plain
Calicoes, Stuff Goods, &c., and 15 crates Earthenware
—Percival, Campbell and Co.
At twelve o'clock, 80 tons Manganese, and 245 bags Poppy
Seed.—Cox Brothers.
At twelve o'clock, at the brokers' office, 11, Oldhall-street,
50 tons Manganese.—Fergusson, Pillans and Co.
At twelve o'clock, at the brokers' office, Apslay-buildings,
0 dhall-street, 70 tons Divi Divi.—Rooke, Okell and
• nee.
At

o'clock, at the commercial saleroom, Temple-
court, a quantity of Plums and Raisins.—Fletcher
and Firth.
At twelve o'clock, at the public saleroom, Exchange.
buildings, a quantity of Manufactures, Revolver
Pistols, &c.—S. Dutton and Nephew.
At twelve o'clock, at the brokers' office, 1, OldhalLstreet,
849 boxes Pearl Sago.—John Baron and Son.
At twelve o'clock, at the brokers' office,V'xtoria-buildings,
Hackin's hey, 1 tierce and 52 b?Arrels, Jamaica Coffee.
—T. W. and J. C. Harrop and Co.
At twelve o'clock, at the brokers' office, Exchange-street
East, 10 cases and 10J bags Turkey Gum Arabic, 10
casks Tartaric Achi, 1 tor, Essence of Spruce, and 10
tons Irish Moss.—Williarlt Porter and Co.
At twelve o'clock, at the ~rokers' office, 15, North John.
street, 14 bales B:tid 65 packages Wool.—Law and
Wylie.
-At twelve o'coek, at 1, Oldhall-street, 142 baskets Para
TaPi`...ca.—How and Barclay.
At tw-,,tve o'clock, at the brokers' office. Exchange-place,
120 barrels Portugal Honey.—W. W. Smith.
-At twelve o'clock, at the brokers' office. 4,000 bags Bengal
and Necransie Itice.—T. and IL Littledale and Co.

*a* For particulars see advertisements.

AMUSEMENTS, PUBLIC MEETINGS, &c.

THIS DAY.

Theatre Royal—Piece and Pantomime-7 p.m.'
Royal Amphitheatre—Equestrian Company-7 p.m.
Picture Gallery, 50, Castle-street-10 a.m. to 4 p.m.
St. George's Hall—Organ Performances-8 p.m.
Freemason's Hall—Gallery of Anatomy-11 a.m. to 10 p.m.
Allsop's New Crystal Palace,Lime-st.-10 a.m. to 10 p.m.
Lion Slayer's Encampment, Shaw's-brow-12 noon.
Royal Colosseum—Gmeral Entertainment-6.30 p.m.
Clayton Hall—Miss Julia St. George--8 p tn.
Craven Rooms, Birkenhead—Licensed Victuallers' Ball.
Queen's Hall—Ocganophonic Band-8 p.m.
Concert Hall—General Public Meeting-7 30 p.m.
Hope Hall, llope-street—Lecture-7.30 p.m.

*** For particulars see advertisements

ROBERT
,MULLINER,
. • (Successor to GOIOT & CO.),
(Late with Win. Horne, London),

CARRIAGE AND HARNESS MkNLIFACTURER,

591 and 61, GREAT CHARLOTTE-SPREE P, LIVERPOOL,
MANUFACTURER OF EVERT DESCRIPTION OF
FASHIONABLE CARRIAGES.

sole Agent for the Patent Moraples, for which a Prize Medal wa

awarded at the'Gre-it Exhibition.

A Great Variety of New and Fashionable CARRIAGES always on
whieh are ready for immediate use. Estimates given for
epairs.

CARRIMIES TAKEN IN EXCHANGE.

Carriages sold by Cora-

Good Standing on moderate terms.
Mission.
Merchants hupplied with Carriages for exportation on liberal
terms.

771
tge SAZIETAtti ‘4)111I13

THURSDAY, JANUARY 22, 1857.
0
THE DAY'S NEWS,

Of domestic news to-day there is a variety, but it
is of little importance. Crime continues to
an alarming extent. Particulos of another
attempted murder—this time in Birmingham -will
be found in another column. The miscreant who
attempted the life of his wife, after.Varda- corn-
Mitted suicide, by cuttinghis throat. A fashionably
dressed young man was yesterday committed for
trial at the Liverpool Police Court, on a charge of
embezzling some £6O or £7O, the property of his

employers
In our paper of yesterday we stated that the
Honourable the East India Company, or.rather its.
Court of Directors, had "issued instructions" to
annex the Rajpootana States on the first convenient
opportunity. The secretary of the company has
officially denied this assertion : but that such is
their intention there is scarcely any doubt
They will annex, or otherwise steal the territory
when they see their way clear. His Grace the
Duke of Rutland has paid the last debt of nature.
He died, at Belvoir Castle, Leicestershire, on
Ttiesday. The Marquis of Granby is conse-
quently raised to the Peerage, thereby creating
a vacancy in the representation of North Leicester-
tiTi-lie—a constituency which, like that of Dumfries-
shire, appears to be the uncontrolled property of a
Ducat house. • The deceased' Duke was an
unwavering upholder of all our old traditions
about Church and State, but he had no political
. history worthy of special record. The new
Duke is a much more remarkable man, and
was, at one time, believed to be entirely
capable of leading the Tory party in the House
of Commons, but he fell back behind the less
principled but more showy advocacy of the
member for Bucks. From first to last, the
Marquis 'of Granby, we need scarcely remind the
Lublic, opposed himself to our quarrel with the
mperor of Russia, and in his new position as a
member of the House of Peers he will no doubt
be regarded, even by many of his politibal op-
ponents, .as an accession to the ranks of any
Peace senators of which that assembly can boast.
AS the future Lord of Belvoir Castle he will have
a great influence over the destinies of the Midland
Counties, and it can scarcely be doubted that he
will endeavour to fall into the footsteps of his
deceased father in one important respect, that of
boirtfr, upon the whole, a good landlord.
Some three or four days ago a case of consider-
able interest was before the Lord Chief Justice in
the Court of Queen's Bench, viz.,. the Queen v
Maria' Clark, the facts of which'are of a curious
nature. There was a certain Sergeant of Marines,
named Lauman Rale, who seems to have been a
very fine fellow, who was killed under fire at
Petropaulovski, in September, 1854. He belonged
to the Pique. Now, this sergeant 'was married,
and he had by his wife two children, a boy
and' a girl. The boy, John, is now about 12
years old ; the girl, Alicia, is about 10. The
mother's name is Alicia Race, and she still sur-
yiiyes,- a widow, Sergeant • Race, on the 24th of
August, 185 i, made a will, which concluded with
these words :—" I do hereby nominate, constitute.
and appoint my wife, Alicia Race, executrix of
,Tthis :my will and .testament, feeling confident that
she will ,dn justice to my dear children as a wife
and a mother?' The mother-is a Roman Catholic*,
•:-the father. was a Protestant. The father always
brought up. his children Protestants, and sent them
to Protestant schools. He himself always attended
the services of the Church of England It
was found, also, that for eight months after their
• father's death the children attended a Protestant
. school and Protestant worship, and the mother went
with theul: The elder child, the boy John Race,
after his father's death was sent to the Sailor Or-
phan Boy, School and Home at Chardstock in Dor-
setsitire, which is supported from the Patriotic
• Fund. July, 1855, the little girl Alicia was also
sent to the Sailors Orphan Girl's Sehool and Home at
namPs ca
Vamps is maintained in, the same
p r to have gone on reason-
. yns,nnee..:. Thing
• a
well' for a tismea,pbueta: at length the Romanists
got hold of the mother and persuaded her to
remove .her son from Chardstock. This done,
they informed her that they could do nothing fJr
the boy until the girl too was taken away
from the Protestant school at Hampstead.
Hereupon Mrs. Race endeavoured to regain
Possession of the child but the girl strongly
resisted all endeavours to remove her, and
expressed her determination to remain at
Hampstead, and her wish to• be brought
up in the tenets of Protestantism. Upon this due

application was made, and there was issue] a writ.
of habeas `corpus, directed to the matron oft -the

Sailors Orphan Girls School and Home at Hamp-
stead, and requiriug ler to profluce AliCia Race in
the Queen's Bedch on Saturday lust, which was
accordingly done. The 'effort; Q n one, aide, -70 f
course, was to reinstate the mother in posSession
of the child; on the other, that the child should be
at liberty to choose for herself. Yesterday, Lord Chief
Justice 'Campbell delivered the judgment of- the
Court at great length, to the effect that the mother,

as the natural guardian of the child, in the absence
of any legal guardian having been appointed by
the-father, was entitled to the custody and training
of the child—on the supposition that the applica-
tion was made bonafide, and for no immoral pur-
pose; and that the mother, was a .fit and proper
person to have the custody
Ile, therefore , Rid training of the
. ohUred' the child to be
immediately delivored up to the mother, saying
that he did not care for any injunction that might
be granted in the matter.

The West Derby Board of Guardians held their
usual weekly meeting yesterday. No business of

importance was transacted. A memorial was set
on foot to obtain: additional medical aid for the

hospilal—something in the shape of a resident
ttpotheeary. The matter was left for further

consideration.

The intelligence from the Sister Isle, if not
.mportant, is at least interesting. A town's
met-
ing has been held in Cork to take steps for the

purpose of devising a suitable memorial to the late
Father Mathew. The, Mayor of that' city occupied

the chair, and a host of national its well as civic

celebrities attended' and took part in the proceed.
ingi. It was resolved that " Inasmuch as the city
of Cork was not only the city of Father Mathew's
early adoption, and the scene of his labours as a
clergyman, but the very seat and' centre of the
great moral movement-which under his leadership

iiprep:d its blessings to the utterthoSboundaries of
the civilised world, we lookupon-Cork'as the place

of all others ia which a national monument should

be erected to a national benefactor." A subscrip-
tion list was opened, and in a few minutes £275
was collected, A committee, for -the purpose of

raieing funds was formed, and the meeting
separated. There is still much uncertainty as to
who will be selected to fill the vacant bishoprick

of Cork.

Many surmises appears in the papers ;

but the statements contained therein do not seem

to come from authority. The latest report current
is that the Hon. and Rev. H. Browne is the bishop

elect. Of this rev. gentleman we know nothing
personally ; nor- has his name, at any time, been
.identified with any movement in the Church. If
appointed to the diocese of Cork, he will owe his
elevation, not to his ministerial merits and fame,
but to his fortunate connexion with the Duke of
Devonshire, whose relationship with the Lord
Lieutenant is well known. Mrs. Chichester

O'Neill, daughter of the late eminent and venerated
Judge Torrens, died at Dublin on Saturday. This
lady's husband, some time ago, became possessor
of the vast estates of the late. Lord O'Neill. Accord•

ing to a Belfast paper, since the Rev. Mr. O'Neill's
accession to the pr►ncely estates of his family,

Mrs. O'Neill endea'red herself to all who had the

ho-nour of knowing her many excellencies ; and

by the O'Neill tenantry, and by all those who
were the objects of her benevolent care, her early
death will be much deplored. The Irish journals
are speculating upon the questions which will
engage the attention of the coming session of
Parliament. One of the chief Conservative prints
_ _

in the north rejoices to be able to intimate, on
high ,and unquestionable authority, that the
Conservative party are resolved that difference
of opinion on •.a few particular subjects shall not
interfere with the.:__ united action of the party.
The Maynooth question, and others of like nature,
will be left perfectly " open questions ;' thus the
Irish and other Conservative members may speak
and vote in reference to them as they please. A
Dublin journal blames the Board of Governors of the
Bank of Ireland for being the indirect cause of

the fire in that institution on Monday morning

It says-:—The origin of the fire is still a mystery,
and the danger our "Old House" has escaped
never'could have existed had not a strict economy
caused the directors to abolish the night watch of
clerks, which, up to a late period, patrolled all the
corridors, at stated intervals during the night. The
fire might have originated, but it could not have
spread, had this watch been continued.
Our 'advices from Scotland inform us that the
Freehold movement is likely to extend itself to that
portion _of Great Britain, in connection with the
agitation to give Scotland the benefit of the forty
shilling freehold in- the election of Members of
Parliament. Already two meetings have been held
on thnsubject, one at Edinburgh and the other at
Glasgow, at which speeches were made well
worthy of . the occasion. The clergy seem
to be at the head of the movement, a some-
what singular circumstance. A meeting was to
be held in the City -Hall,
.Edinburgh,. on
Saturday evening last, on the relations between
Switzerland and Prussia, and placards were ex
tensively circulated, requesting alLSwiss residents
in Scotland to then and there assemble. If the
response which took place to the summons is to be
taken as a criterion either of the number or the
patriotism of the Swiss residents in Scotland, the
former must indeed be very small, or the latter
remarkably lukewarm, seeing that, at the hour of
meeting, only one solitary individual made his
appearance to represent both ! It would appear
that the Aot for the regulation of the spirit traffic
in Scotland, better known as Forbes M'Kenzie's
Act, has had the effect of reducing the
number of drunkards in Edinburgh, and
lessening the consumption of intoxicating
beverages. The act was for closing all beer shops
and public houses during the whole of Sunday,
for preventing them from being opened any day
before eight o'clock in the morning, and compelling
theni to be shut at eleven o'clock•at night. There
was some discretionary power lodged in the hands
of the licenaing justices, but that Act has practi-
cally shut up all places licensed to sell strong
drinks within the hours just named. An
Edinburgh paper, has anticipated- the official .
publication of statistics, showing, the decrease of
drunkenness and the. consequent diminution of
crime.for the year
.1856, by issuing a series of
tables, showing the progressive decrease of crime
ill that city since 1852. If reliance is to be placed:
on figures, the demonstration in this instance is}
indisputable, as proving the intimate relation,
between drunkenness and crime, and that just as
sobriety increases, crimes and criminals Oirninish.-
1852 was the turning point of the question in
Edinburgh. In that year the magistrates held
out a contingent advantage - to publicans who
closed their shops on Sunday. A majority
did .so. At first the differenca between drunken-
ness and crime was almost imperceptible, yet the
tide had turned.' Hope was stimulated by the
experiment; and now the contrast ,between that
year, 1852, and the year 1856, just closed, is the
most eloquent eulogium that could bepassed upon
the efficiency of the Scotch Public House Act. In
order to appreciate its true value, particular atten-
tion should be given to the difference during those
hours when the full benefit of the Act is obtained,
viz , from eight o'clock 'on 'Sunday morning till
eight o'clock on Monday morning. In 1852, there
were 709 persons taken to the police office drunk
between these hours ; in 1856, 'the number Was only
185. Including the Saturday night drunkards
taken up during the early hours on SiAnday
morning, the number in 1852.. as 1,352 ; in 1856, it
was reduced to 779. These were Sunday drunkard's;
hut the week day and general
15 2th
been conspicuous.persons
taken lnto
1.
hBe -deerease has, also
policee number of67intoxi-
cated
in 1856 the number was
effects of this decrease Oand n
otriwts" h
to s ow e
crime, the number
under police cognizance in 1852
was .
in 1850 it was reduced to 14,353,5h0wing as clearly
1 , whilst
82932
as can be 'that crime-is diminished in the ratio in
which drunkenness is destroyed.
The Continental ,news this
.morning does not
possess much importance. In France, the chief
and almost only topic considered Worthy of discus-
sion,-is Verger and .the assassination of the late
Archbishop of Paris. The miserable wretch, how-
ever, is likely, before the week is over, to be taken
to a scaffold near the celebrated Pere la Chaise,
and subjected to a violent and ignominious death.

Still, to gullotine him would only convert,him into
a martyr in the esteem of a large and irreligious
class. The proper punishment, even if his mind
were not evidently unsound, would be the
solitttdo of a prison, where
_he might have timb
to reiUct on his enormity and rnake reparation for
his guilt in sincere contrition. If the French
Governthent substituted detention fob' death, a more
judicious course could not be adopted. The whole
body of the clergy are favourable to the remission
of the extreme penalty, and their desires will be
iratified. Verger will not pass into the state of a
martyr, he will wear out the remainder of his
miserable days in- solitary confinement—the most
appropriate Ounishrnent for 6ficil a felon, His
choice will lie between the prison and lunatic
asylum—neither a very enviable domestication for
a possibly long term of years.
We fi❑d it stated in a Brussels paper that the
Conference to settle the Neuchatel question is to
be held in London, probably because Prussia and
Switzerland both look with suspicion on the pre-
ponderance of French influence in the mediation.
From an order of the day of the. Swiss General i
seems doubtful whether the troops will be imme-,
diately disbanded, but it is certain that the step has
been resolved on, and perhaps it will be made
gradually. Prussia has renewed her declaration
that she will abstain from military measures
The reports of the progress of the Emperor of
Austria in his Italian provinces indicate a better_
feeling betiveen prince and people—whether cordial
or merely on the surface no one can tell. On the
12th instant, the Lloyd's steamer Asia, on her way
from Trieste to Con mantinople, was lost off Valona,
on the coast of Albania. The passengers, mailbags,
and teMittances were saved.
The Archduke Maximilian- of Anstria' has been
appointed Governor-General of the Lombardo-
Vt nstian States, Z 3 successor to Marshal Radetzky,
retired.

A despatch announces that the Spanish Cortes
are convoked for May next. _ .

With respect to the Southampton election, we
learn that on Tuesday Sir Edward Butler and
Messrs. .Weguelin. Andrews, and Carden, the
'candidates for the representation of that borough,
paid down 1001. a piece to the town clerk as a de-
posit towards the expenses of going to the poll.

ANOTHER Diplomatic Conference is to be held
,o settle the Prusso-Swiss difficulty,and before the

capital in which this third Congress is to be held
has been named, it is to be hoped that the PAL-
➢iERSTON Cabinet will not make Great Britain a

subsidivary Power in this International Assembly.
There is no want of disposition on the part of
foreign courts to lower this country in the world's

estimation ; but it is to be hoped that Her
MAsEgry's Ministers will bestow some thought on

the dignity of England, and the great stake we have
in maintaining our moral influence abroad. If the
Council is to. be held in a neutral State, London
is the place where the negociators ought to meet.

Should this prove unpalatable to others, we
should leave the Conference to themselves in so-
lemn silence. The Swiss can take care of their
own interests. We need not be at all apprehen-
sive on this score ; and it would be far better to
leave them to chance, than we should be made
to appear ridiculous and contemptible in the eyes
of the rest of the world. Our statesmen must

recollect that there is much in effect, as well as
foreign governments ; and where we do not hold
our proper rank and station, we had better not
show ourselves. We need not dread any posi-
tive degradation, but there is such a thing as
losing caste, and with it much is lost which can-
not be easily regained.

France can hardly expect that she is to mono
Molise and become the Conference mart of the
world. The American envoys selected it for
their meeting ; but France was not represented
at their gathering. It was a sort of family re-
union, in which the sons of a State met to con-
sult about domestic affairs. Paris, however, hie
had its two Congresses, in which 'Matters of
world-wide importance were discussed, and we
think it but right that London, the capital of
England, should be selected, for the meeting of
the next international Parliament. Should this
b'e refused, the design will be too obvious to be
mistaken, and there is but one course for us to
pursue. The bombastic•language and whimsical
threats addressed by the Court of Berlin to the
Swiss Confederation were meant as a sort of
menace to all Europe. FREDERICK WILLIAM
holds in utter contempt the deep and honest soli-
citude with which Great Britain and many other
properly constituted Powers view the Maintenance
of tranquillity on the Continent. And we do not
khow a more effectual way of convincing war-
fomenting governments of their errors than
leaving them to their caprices and the moral
certainties which await them. The Power which
would fain place Prussia on the horns of a di-
lemma would encourage the diplomatists of
Berlin in their eccentric (fancies. A Prussian
war would destroy the social life of Germany, if
its ravages should fail to lay many of her petty
States waste.
''The wars of Berlin have always done this much
for the Germans, and why should they not do
so now, and at future periods ? Releasing the
Prussian rebels, taken with arms in their hands,
is an act of mercy which redounds to the magna-
nimity of the Swiss nation ; but as a precedent
the great Powers of Europe are responsible for
it—a concession to arbitrary dictation. How
such an example may be acted upon hereafter,
is a matter which belongs to coming events.
Violations of the law of nations have ever found
ready imitators, and the principle sanctioned to
appease the wrath of a self-willed Autocrat
in this instance, may involve others in
more bloodshed than any amount of
pugnacity, on the part of Prussia,
could possibly inflict on those who have counte-
nanced her very unwarrantable demands. It
remains, however, to be seen how FREDERICK
WILLIAM will acquit himself now that his royal
whims have been suffered to break down the
bulwarks of public safety. The Swiss will not
surrender the sovereignty of the Canton of Neuf-
chatel to the Prussian crown. France can
scarcely desire to see the flag of Prussia waving
from a citadel on this portion of her frontier.
We are left, therefore, to infer from the part the
French Government have taken in the negocia-
tions, as far as they have gone, that the Emperor
NAPOLEON has been given to understand that
Prussia would abandon her claim to the refractory
Canton provided the Prussian prisoners were
released. This has been agreed to, and now the
infgrence is on its trial, and the peace of Europe
depends as much on the issue as it did when the

Court of Berlin published its ukase for the libe-
ration of it 3 rebellious subjects from the Swiss

prisons.
If the King of Prussia's honour equals his
pertinacity, hd will at once give up a small fidg-
Merit of territory which he can never hold in
peace and good will. It could never have been
meant that a little detached garrison, cut
off from the capital of Prussia by a warlike
iiition, was to remain a an appanage of a crown
Which can have no more to expend on . military
displays than is absolutely necessary for the good
government of the state. If Neufchatel lay on
the German side of Switzerland the Prussians
would be compelled to commit a trespass, or
obtain permission from other independent coun-
tries, in order to be able to march her soldiers to
and from her isolated mite of territory. To
think of leaving such a paltry question of dis-
pUted sovereignty in the very heart of the Conti-
nent, to agitate the whole of Europe, would be
most preposterous and impolitic ; and if the Con-
ference should fail in settling the matter at once
and for ever, Switzerland will see that it is her iter-
est to decide the question at the cannon's mouth.
In pursuing this course she will be discharging a
duty to the Continent-which diplomacy will have
failed to perform; and her cause must prove as
popular as her claims are reasonable. If
any foreign Power could make title to Neuf-
chatel it is I rance. She might point to the
geographical position of the coveted territory,
and say, " We can hold that which can receive
"-rio support or benefit from Berlin." But let
the difficulty, terminate as it may, Great Britain
should take no part in the negociations unless
1 she finds her dignity as a Great Power most
scruimlOusly respeCted.:_

THE time has come when men look each other
straight in the face and talk of commercial mo-
rality. Manchester complains aloud of the fact,
that "the mode of conducting business in that

" city called for reprehension." The Commer-
_

cial Association of Manchester have made this
discovery, and they add :—" The men who were
" endeavouring to carry on a business without
" having a capital sufficient to represent that

" business, and who were not, when called upon,
" able to pay 20s in the pound—men who were
" living on anticipated profits which they had
" not made—were not behaving honestly to the
`` creditor, who trusted them on the faith of
" their apparent bUsiness fairly,representing their
" capital. They said n man was an kOnest man
" who conducted his business on that principle.
" Such a principle arose from the desire which
" was common among all classes of delinquents
0 r—fOr he called them all delinquents—an eager
" desire to be rich at the expense of other peo-
" ple, knowing that he himself had nothing to
" lose." There is much in this statement which
is but too true, and it is only to be regretted
that the evils of such a syStem fall on individuals
instead of the multitude who live and thrive by
it. There are only a very few men in trade who
can pay 20s in the pound when called upon.
There must be such a thing as credit, or con-
tracts in which men are willing to share the risks
of time and markets..

The manifold urgencies which have created

this necessity increase as time rolls on, and the
abuse, not the use, of this element of mate-
rial progress is to be deplored. The world has
outgrown by many generations the twenty-shil-
lings-in-the-pound system of trade. This is
shown by the large amount of commercial paper
afloat, at all times, in this country. This large
mass of credit represents capital and produce of
various kinds, and fixes the liability of drawers,
acceptors, and endorsers with regard to the amount
and day of payment; but it does not command
as vast, or sufficiently rapid means of converting
it into cash, and hence thousands of honest men,
whose credit has stood highest in their respective
circles, at one period, are branded as dishonest

and reckless in their' dealings with their neigh-
bour. Whether the Manchester Association meant
their remarks to apply to all classes of men of
business who cannot pay .20s. in the pound,
when called upon,. or :not, there certainly is no
visible distinction .thawn'between the rogue and,
the fair and`straightforward trader. They make
no allowance for the temptations which our
gigantic system of credit offer to men who
hold a position which entitles them to confidence.
They forget that while we never have less than
100,000,0001 of bills afloat, our means to pay
20s. in the pound does not exceed 50,000,000/,
two-thirds of which may consist of paper. With
this paltry sum we carry on a large cash trade,
say 200,000,0001, and hence we have concur-
rent transactions to clear off amounting to
300,000,0001., and this has to be accomplished
with one-sixth of the total in the shape of money.
Much, then, of the evil of which Manchester
complain's is inherent in our commercial, mone-
tary, and financial systems. They all holdout
the inducement to a man who has 203. to sink
his pound sterling, and run the risk of living on
anticipated ,profits. And the moralists who
would do away with the present spirit of specula-
tion and return to the primitive system of " cash
" down," or "here are my turnips, give me your
"carrots," would rather encounter nakedness,
famine, pestilence, and their concomitant
horrors, than participate in all i that
progress, comfort, and prosperity which
is based on a fabulous " promise to pay on de-
" mand," and an ocean of indebtedness, which
can never be drained, even if it should be found
possible to fathom it, within a million or two of
worthless kites. In the strictures passed upon
what may be termed " the higher order of com-
" mercial immorality," by -the Manchester Asso-
ciation, all right-minded men must entirely con-
cur. The last two or three y ears have brought
to light a frightful want of moral rectitude in
those in whom the public and their employers
had every right to place implicit reliance ; and
it is a fortunate circumstance for society that
their delinquencies were discovered, and. their
crimes punished, as they richly deserved...,
The banking swindlers have not been overtaken

by the even-handed justice which is characteristic
of England. The law has found apologies for
the SADLEIRS and others equally guilty of gross
fraud ; while. STRAHAN, PALTL and BATES are
suffering the severest pains and penalties thet
law could inflict for the offences of which they
were convicted, The ability and daring dis-
played by the railway forgers and gold-chest
robbers, are deplorable evidences of the want
.of
that high principle which ought to bp found in
every man above the level of an ignorant and
openly abandoned footpad. Still, we must
remember that characters such as those re-
cently brought to justice are few indeed, and that
a prodigious amount of sterling honesty and itre-
proachable worth, is to be found in the great
masses who sustain the heavy burdens of trust and
responsibility in this age of servitude. If we
were to draw the curtain back a little further
and ask what order of morality the adultera-
ters of human food—medicines required for
the relief of the sick and dying—the attenua-
tors of certain products of the loom—and nearly
every other article we wear, eat, and drink, be-
long to, what consternation it would produce
We need not go into this painful investigation,
however, at present, as the House of Lords will
probably bring this species of, commercial im-
morality prominently before the country in the
course of the next session of Parliament.

LOSS OF ME AUSTRIAN LLOYD'S STEAMER
ASIA.

VIENNA, Monday Morning.—On the 12. h instant, the
Lloyd's steamer Asia, on her way from Trieste to Constan-
tinople, was lost off Valona, on the coast of Albania. The
passengers, mailbags, and remittances were saved.,