Northern Times.
Liverpool, Merseyside, England, 1860-01-30 00:00:00

CLOSING PRICES.

Chester & B'head 761 761 N. E. Ber. c. Stock 941 94,5
Caledonian .. . . 931 931 York capital Stock 781 781
E. Counties 114 11 5-16 Leeds Stock 48484
G. N. Stock . . .107,-1, 1071 S. Eastern 25 25k,
Great Westerns:. sed 67 Dutch Rhenish 41d
Lan. and York. 100; 100 i 4 Lwiem. .. 615-16 •7
Ln. & Nor. West. 98! 98-4 G. T. of Cana. . . 81 8
„ .-shares ... 9-16 jd G. W. Cda l2l. 121
M. S. and Lin. 381 ex d 381 new shares Bi, 8d
Midland Stock 1094. 109 t, Buffalo &L.llaron. 41 46
N. British Stock .. 61 611 Lomb-Venetian 21, 25p
N. Stafford .... 4 31d Great Ship . . .10/6 11/6

LONDON STOCK EXCHANGE.
Saturday Evening.

The Market for English Securities to-day was
rather depressed in tone.. Consols opened with.
flatness at the reduced prices of last night, with
no indica.tions of improvement, the mid-day
quotation being 95 to'l for money and the
account. Bank Stock was dealt in at 2291 and
230 ; Reduced Three per Cents, ,94 and ; New
Two-and-a-Half per Cents., 79i; India Deben-
tureS, 984. 974 and 1; Enfaced 'Rupee'Paper, 9'9
and 981 ; Ditto Five-andta-Half per Cent ~,105
and: 1041 ; and ExcheqUer = Bills, 275. and .245.
pm. New Canada. Stock is marked 1001 toi, and
the Scrip 2t to I pm. India Five per Cent. Loan
is at 1031 to 104.. Turkey Bank Shares are quoted
at par to pm. - •

In the English lailway Share market little
businos Was' done, and stocks generally exhibited
weakness. Great Westerns, London and North-
Westerns, Midlands, and South-Easterns have
declined ss. per, share respectively.
The market for Foreign Securities has been
inactive, and values in some cases show a want of
firmness. .Mexicans have declined to 21 to 201.
Original Turkish have been dealt in at 78a to 79;
and the New Sixes, 67 and 66a.

The quotation for French Rentes at a quarter-
past twelve was 68f. 50e.; the market described
as rather firm.

THE PUNDS.-CLOSING PRICES.
Consols, Money,- 941 i I
,1 1:-
Bank Stock . _229 30
„ Account . . 94Z i Three per Cents.. 94
Exchequer Bills.. 24, 8

RAILWAY 13117/IRRR.•
Amb. Not. &E. J. 61
Caledonians .... 931 ;
Dutch Rhenish . . -
Eastern Counties. 561
East. Lancashire. --- 4
Edinburg & Glas. 79 80
GreatNorthem .. 1071
» n A. 961 7
Gt. Westerns .... 674
G. W.Canada 12 5-16 7-16
Gd. Tk. Can. ..
Gt. S. & West. .112 14

-CLOSING PRICES.
Lamas. & York..loo
L. & N. West... 98.;
L. &S. W. .. . . 961
Leeds Northern.. 47!
Man. Sheff. & Lin 38:
Midland Stock _109:
North British ... 61
N. Staffordshire..
S. E. & Dover .. 83
York, N. &B. .. 94
York & N. Mid... 781

The following appeared in a portion of our
impression of Saturday :

MONEY MARKET, &c.

The _Herald says, it is predicted, in some quarters,
that the Bank rate must be again placed at a higher
point if the purchases of gold do not diminish, arrivals
from Australia being temporarily suspended, and sup-
plies from America having ceased.
The English funds have shown increased heaviness
to-day from the expectation of. an early advance of the
Bank rate of discount to 3 per cent. The demand for
discount has again been moderate, but although there
was p. p*Assnre the general tendency was towards
diminished ease. in ihc. foroiem exchanges, this after-
noon, the rates on Amsterdam and Harubuigh dightly
'iMproved. The railway market has been depressed in
sympathy with consols, and the leading British stocks
generally show a decline.—Times.
The funds, to-day, showed increased depression,

THE DAY'S NEWS.

By telegram from Plymouth, we are informed
of the arrival of the Cape of Good Hope mail
steamer, with news to the 22nd ultimo. Trade
was dull. The wine disease has been so destruc-
tive that it is said the quantity of wine for export
next season will be much diminished. There
appears to be a demand for more emigrants in the
colony. We regret to observe that Sir John
Wylde, late Chief-Justice, is dead ; and the service
has lost Colonel Rose, of the Royal Engineers,
who had unfortunately been drowned at Port
Elizabeth.

The new Sardinian Parliament, it is expected,
may be ready to meet before the end of February,
an event much desired by the Italians, and which
in consequence of the energetic measures taken
by Coant Cavour, immediately on returning to
office, has been accelerated and will assemble
quite one month sooner than would otherwise, as
the law stood, have been possible. This great
step, a meeting of the national representatives, is
looked upon as the first requisite to a final solution
of the Italian question; of course the Italians hope

that :this Parliament may become a. powerful
instrument in effecting the annexation of Central

Italy to the North. The Sardinian Parliament,
it is ;thought, will at once proceed to accomplish
a decisive act of real union, by formally opening
its doors to those deputies which may be sent to
it from the Romagna and the Duchie's, under the
Anew _Sardinian. Electoral Law, already published
in these provinces. The Parliament, once assem-

bled, it is said, may do this on its own responsi- '
bility ; and if so, it may be looked upon as a
very convenient and constitutional mode of per-
sonally relieving King Victor Emmanuel, and his
'powerful ally, the Emperor, of any further necessity
for dealirrg with this vexed question of annexation.
If Louis Napoleon's original policy was to set
up an independent central kingdoM in Italy, and
if he has found that object to be so far unattain-
able, he, knowing well how to bow to " unfore-
seen complications," may now be disposed to shut
his eyes, as it were,' for the time being, while the
Italians themselyes by, such a step shall realise
the great object they -have at heart,—which
their " Liberator" has not been able to dis-
suade them from, and for their accomplish-
ment of which, therefore, he will, of course,
hold himself not answerable, either to Francis
Joseßh or to any other. We may expect,
therefore, soon to hear something decisi ,re
.with regard to Central Italy. Military prepara-
tions are being made to meet any emergency.
The Sardinian troops at Brescia are reported to
have received orders to march across the Po and
form the left wing of the Northern Italian army
at Rimini ; and all those 'who had received
furlough under the late Administration are said
to have been recalled again to arms.

The agitation in Venetia continues, and in-
creases. The hatred entertained by the inhabi-
tants towards the Austrian troops, takes the
shape of overt acts, which, show how confident
the 'people are becoming, and how timorous the
authorities are in. their poliCy. In the coarse of ~
one day, seven officers have been attacked.
and.wounded at Verona ; while at various, parts
of the province attempts have been made to
hoist the tricoloured. flag. At Venice, per-
sons, no doubt Austrians, have been insulted
while promenading in the Piazza del Noze,
during the performance of military music. It
was reported that Verona had been declared in
a state of siege ; but, in fact, the authorities have
:not dared to do so, as they know it would only
help to precipitate a crisis; although the taking
of such a step has been under consideration,
and 'it is certain that Count Degenfeld has full
power to proclaim the state of. siege in, any
part of Venetia.' The Emperor Francis Jo.
seph is said to be greatly excited ; and it
is the opinion of those capable of judging
that, notwithstanding the disordered state of his
empire, he may be induced to take up arms in
defence of the claims of the house of Hapsburg-
--Lorraine to Tuscany and Modena ; for, however
Unwise the idea may be, his Majesty has already
given abundant evidence that he does not always
count the cost of his acts. There are various
contingencies under which it is deemed quite
possible that Austria may •attempt to strike
another blow at Sardinia.
Hungary is said to be now in a pretty similar
condition to that it was in at the beginning of
the year 1848, which, of course, was anything but
peaceful. The rapture between the Government
and the Protestants is well nigh complete. Be-
twiXt Venetia on the one hand, and Hungary on
the other, it is quite evident that Austria is in a
very helpless, if not hopeless condition. We may
say 'she has' been completely checkmated ; and if
Francis Joseph does not see it very soon, it will'
be too--late. But we fear he will prove only
another illustration of the old. maxim, " quern
Deus vult perdere, prius denzentat."
An enterprise has been undertaken at 'Rome
which will please all lovers of antiquity. The.
Pope has sold a vast ruinous block of buildings,
situated on what is said to have been the site of
the Forum, and has granted permission to the
purchasers to make excavations .there. It is
reasonably conjectured that in the course of the
search about to be entered on some very in-
teresting discoveries may be made.
The ratifications of the treaty between France
and England will be exchanged in eight days.
M. Rouher has been nominated Grand Cross of
the Legion of Honour, " in testimony of his
Majesty's high approbation of his eminent ser-
vices"—referring, no doubt, to his " eminent
services " on behalf of the Treaty of Commerce,
and the reductions in the tariff; towards which,
it is understood, he has laboured with great zeal
and activity. The protectionists continue to
exercise their still unquestioned right of sending
up petitions and addresses to the Emperor. There
has been, however, some public conversions from
their ranks, among which is that of the Presi-
dent of the Chamber of Commerce of Lille, who,
although at first he remonstrated against the
Imperial proposals, ultimately, after an interview
with M. Rouher, positively declined to sign the
bold address which recently was presented. The
president of a similar body in St. Quentin, who
signed the address, now protests against it, and,
it is thought, would withdraw his name if he
could.
It may be interesting to some of our readers to
note certain of the leading facts recently published
in the French papers, illustrating the state of the
cotton trade in France. It was first imported in
1800, and cotton spinning now extends over fifty-
three of the departments, and cotton cloths are
manufactured there, and in five other depart-
ments. At a comparatively recent date there
were 2,606 cotton factories at work, employing
274,930 workmen, on 126,679 frames, producing
articles in value only 334 million franca, which
would give only ten francs worth to eathiuhabito.kt,

or scarcely four shirts or six pair-of stockings
or one sheet. Mit, in reality, there has not been_
so much ; for a large quantity of the cotton
manufactured in France 'is exported. The value;
of• the • cotton annually imported 'into France is
about 108 million francs, to which has to be
added a sum of about 12 -million francs of import
duty—that is to say, about one-eighth of its real
value—a fact of itself sufficient to show the im-
possibility of French manufacturers entering into ,
fair competition with English. When cotton is at,
all worked, it is, subject to an enormous import
duty. Almost all kinds of raw cotton in thread
and cotton twist are prohibited, the only exceptions
being such as are not manufactured in France at all.
One consequence of the withdrawal of the pro-
hibitions will be, that the thread used for making
coarse cloths, such as are most used by the
great mass of 'the population, will then be ad
mated into France. Another important effect
-will be that, after a certain time, France will be,
able, it is believed, to compete with England in
the profitable manufaCture of cotton lace, in
which all nations, except the English, are con-
sidered inferior to the French ; and it is not
unreasonably anticipated that when the primary
article can be furnished to them at a lower price,
they will soon take the first place in this branch
of-the cotton trade.

The' requisite preparations for increasing the
efficiency of the artillery of the British army and
navy, according to the most recent improvements,
are 'being carried on with complete success, and
greatly multiplied rapidity. It was at one time
doubted, and that not long since, if itwere practi-
cable to turn out the nunibefa guns promised, viz.,
twenty 12-pounders a week; but this doubt has not
only been solved to the satisfaction of the most
sceptical, but it is considered quite possible to
manufacture more than double that number ; and
accordingly, we are told that the manufacture of
these guns at Woolwich was last week increased
from the weekly• ratio of twenty, to folly-five.
And this is not all that is being done to complete
this most.important arm of the service with all
convenient speed ; for we observe that arrange-
ments are now in progress for the construction of
guns upon the same improved principle, of a much
larger calibre. The manufacture of 25-pounders
.is to be commenced as soon as the proper imple-
ments are ready.

By the arrival, last night, of the British and
North American Royal Mail steam-ship Arabia,
we are put in possession of intelligence from New
York to the 18th, and from Washington to the
17th instant. At the last mentioned date the.
House of Representatives had still been unable to
agree upon - the choice of a Speaker, so that in.-
reality the legislative, if not even the de-
liberative functions of that first chamber of
legislature for the United States, could not
be entered on. Thirty-three ballots for the
Speaker's election had terminated as the first had
done, in recording such a state of votes as to-pre-
vent the possihiJity of election. This condition of
matters has for some time past been productive of
great dissatisfaction among the thinking portitn
of the community, and various expedients have
been suggested to obviate the difficulty; but
hitherto without effect. Connected with this and
other political subjects, sharp personal disputes,
threatening to involve individual hostilities and
probable bloodshed, have occurred in the different
legislative bodies ; fortunately as yet without fatal
results. In New York, the commercial " heart" of
the United States, the Money Market seems to be a
little loose, and some apprehensions are enter-
tained as to the stability of affairs among mer-
cantile men in the present exciting state of poli-
tical feeling, arising in a great degree, if not alto-
gether, out of the vexed question of slave-holding
or abolition.

Now that the excitement, occasioned by the
threatened refusal of the Home Secretary to
ratify the appointment of Mr. THOMAS STAMFORD
RAFFLES as our stipendiary magistrate, has sub-
sided, it may not be amiss to take a brief and
calm review of the case as it presented itself to
the people of Liverpool. We do so in no
party spirit. Mr. Raffles himself is not a Con-
servative in politics, but a Liberal; he is not
therefore of the party to which we belong, and
whose cause we support. Our course, therefore,
is, on this very account, all the more independent,
and our opinion, for the same reason, is entitled to
all the more consideration. We have, from the
first, spoken favourably of Mr. RAFFLES, and we
are more than ever disposed to do so again.
The principle of such an appointment to the
magisterial bench is a constitutional one. The
nomination is very properly vested in the Town
Council, as the governing body of the borough ;
but it would not be constitutional to allow that
Council, or any other subordinate body, to usurp
a prerogative of the Crown ; and therefore a veto
upon any such nomination is very properly re-
served,—vested nominally, of course, in the
Crown, who exercises it by the Secretary of State
for the Home Department for the time being. So
that there was nothing unconstitutional in seek-
ing to appoint another to the vacancy in question
The Home Secretary, on the part of the Crown:
had a legal and constitutional right to give the
office to another, if he thought proper. But
there must be some good and sufficient reason for
this ;—and in the case before us, there was none
whatever. In the•first place, the Council having
made a satisfactory choice, it was most ungraci-
ous on the part of the Home Secretary to refuse
to ratify it, unless he could show some good cause
for doing so,—as, for instance, the incapacity of
the person nominated, or any other valid reason.
But in this case, we say, there was no such reason
whatever. The candidate chosen by the Council
was in all respects unexceptionable ; so that it
would have been, not only a most urcourteous

thing, but in other respects most improper, to
liave set his appointment aside, even if one had,
been found &little better qualified than he might
be supposed to 'be, to fill the responsible office.
Neither, however, was this the case. The Home
Secretary, in short, sought to• make it a mere -
matter of personal favouritism. He had a '
young friend—a family connection, it is
said —in favour of whom the ,right
hon. gentleman wished to exercise his
patronage; and •although from his prote94'B
comparative youth and inexperience, and brier•,
standing at the bar, to say nothing else, he:
was much inferior to Mr. RAFFLES, the choice

of the Town Council, still the Whig-Liberal
Home Secretary did not scruple to seek to put
him into the office, and thus inflict a direct insult
upon the town, and, in a word, make a gross job
of his patronage and. his poWer. These, we be-i
lieve, are simply the. facts of the case. And haa
not public indignation been strongly aroused in•
•the borough—had not the -Town Council exerted
its influence to resist such a slight as was at-
tempted to be put upon it—there is no doubt
that this gross job would have been perpetrated.
with full effect.

We do not deny the right of Ministers of the
Crown to exercise their own responsibility in the
bestowal of their patronage, and in doing SO to'
give a preference to- those who are their friends
to whom they may be under obligriiion—and
in whose advancement they necessarily feel a
greater interest than in that of a stranger,—pro
vided, always, that the efficiency of the public
service is not sacrificed; that the persons selected
from among their friends to fill the offices of which
they have the appointment, are in all respects'
duly qualified for the same, and are not chosen'
therefore, simply because they happened to hate
claims upon them, but because, while they bare
such claims, they are at the same time, on other.
grounds-, quite as eligible as any others whams
they might select. But, in this case, n 4•
only was it, as we have shown, most unins7;
tifiable to refuse to confirm the deliberate;
choice of an important public body like the TOO
Council of such a borough as Liverpool, but It
was also an attempt to foist upon the town f'
Stipendiary Magistrate vexy much inferior to hit*
whom- that body had taken pains to select and,
nominate: Looking at the case, therefore, calnili
and dispassionately—without any party feeling,
but simply as a matter'of right and
,justice—one
can arrive at no other, conclusion, than that Lai
PALMERSTON'S Home Secretary has been guilt,'
of a piece of gross impropriety, in the attempt Ile
made to disregard the recommendation of the
Town Council. He has shown therein a greedi-
ness of patronage and an unscrupulousness in its
exercise, of which, we will be bound to say, there
is
nms
innHoi
sopt
ra Ij_
Secretarye
fl ainn y the
oodfpe anocrdtdiact
epe
.oE f ois,Bua CwAo
ean su
iae rr
are,
sv, attthi et;
o
me
tion would have been guilty of such an offence'
• Whether or not it had the sanction and approol
of Lord PALMERSTON, we cannot tell ; but of
we are quite certain, that Lord DERBY WcnilL' •
never have sanctioned such a proceeding, and
`that no one serving under him, however strong
his own partialities might have been, would hOe
had the hardihood to attempt the perpetration 0f
such an outrage, as—to speak plainly—one can°t
but regard this act of Lord PALMERSTON'S
Secretary to have been. It is one of those oeeti:
rences which ought to open the eyes of the pel'e
to the utter hollowness of Whig-Liberalism. °lir
present Ministers are men of loud -professions 3
to purity, and disinterestedness, arid impartiality'
in their public proceedings generally ; but in this
case, we see a remarkable proof of the fact, 014 t
, not only are they no better than' those whom they
denounce as inferior to themselves in such virtu-
ous attributes, but infinitely worse ; and therefore,
coming before the public, as they do, under nislll-
fest disguise, they are infinitely more mischievobe
in the responsible public offices which it is the
misfortune of the country they are now perinittea-
to fill.

THE LATEST NEWS•

IBY BRITISH AND IRISH MAGNETIC TELEGRAF°.

FRANCE.

PAnis, Jan. 29.
sidTedhe
at the council of ministers and
the privy council. The Empress was also present.
The Univers publishes a letter of the Pope to,
yesterday
yr of to-day says the Emperor pre_
the archbishops and bishops, stating the motives
of his refusal to accept the advice of the Emperof
to give up the Romagna.
The Paris correspondent of the Globe says that
the opposition of France to the complete annexa—
tion of Central Italy to Piedmont has now been,
withdrawn.