Northern Times.
Liverpool, Merseyside, England, 1859-05-24 00:00:00

THE FUTURE POLICY OF AUSTRIA

VIENNA, May 20th.—The last number of the
Oesterreichische Correspondenz contains a short
article on the future policy of Austria. After a few
words of valediction to Count Buol, whose with-
drawal from office is attributed to ill-health, the
official says :
"It is hardly necessary to remark that the retirement of
Count Buol, who during 40 years faithfully and devotedly
served his Imperial master and his country, will lead to no
change in the principles on which the policy of Austria has
hitherto been and will in future be based. The maiu-
tenance of the rights and legitimate interests of the
monarchy will be united with complete recognition of and
respect for the rights of other States. Averse to all en-
croachments, the Austrian Government sees in a kveneral
respect for and maintenance of the legal state of things in
Europe the first and most essential condition to the welfare
of all States and nations, and the only foundation on which
peace with the accompanying blessings of intellectual and
material development, can securely rest"
The foregoing gives hardly any insight into the inten-
tions of the Austrian Government ; but I believe that there
will be little.or no change in the foreign policy of Austria.
She will endeavour to make friends with Russia, but will
enter into no agreement with her which could give umbrage
either to Germany, England, or the Porte. During the
last few days the city has been full of rumours. The public
firmly believes that Count Griinne and Baron Kempen
were the persons who persuaded the Emperor to accept the
proffered resignation of Count Buol; but neither bad any-
thing to do with the matter. Prince Windischgt atz plainly
told the Emperor that it would be useless for him to go to
St. Petersburg so long as Count Buol was in office, and it
hardly admits of a doubt that Prince Metternicli expressed
himself to the same effect. Some months ago the ex-
Minister for Foreign Affairs requested the Emperor
to remove him from office if he thought his presence
in the Cabinet was a serious obstacle to the es-
tablishment of friendly relations between Russia
and Austria ; but His Majesty, who has always dis-
played a disinclination to part with any of his
official advisers, then told him he could not
dispense with his services. It is not known to me that
such was really the case, but it is related in diplomatic
circles that Count Buol a few days ago received a hint that
his resignation would be accepted if it was tendered.
Count Rechberg, who yesterday took the customary oaths in
the hands of the:Emperor, has this morning received the
visits of the different members of the Diplomatic Corps.
The Ultramontanists, and a certain party at Court, wished
to have Baron Bach appointed President of the Council of
Ministers, but his Majesty has decided that Count Rechberg
shall take the chair. Baron von Hiibner will accompany
the Emperor to the camp, but I do, not know in what
capacity he goes to Italy. Baron Kiibeck,' who a few
months ago was at the head of the Chancellerie of the
Archduke Ferdinand Maxmilian, is likely to represent
Austria at the Bund. The Baron, a talented diplomatist of
the modern school, was formerly attached to the Austrian
Legation in London. The rumour that Baron Bach is to
%int office is maintained with great persistance, and it. is, be-
sides, related that the Hungarian nobles are about to demand
an audience of his Majesty, in order that they may be able
to inform him by word of mouth that they consider
the Minister of the Interior the oause of the present distress
and disorganisation of their native country. The intelli-
gence which reaches me from Hungary is so alarming that I
cannot venture to repeat it. The discontent and disaffec-
tion of the people increase from day to day, and it hardly
admits of a doubt that there will, sooner or later, be serious
disturbances, if some concessions are not made to them.
Volunteers have been raised in considerable numbers in
various parts of Hungary, but information aas reached me
that almost all of them are "riff-raff."

AMERICA.
ARRIVAL OF THE AFRICA

The Cunard Royal Mail steamer Africa arrived
here yesterday afternoon with 174 passengers,
$1,648,975 in specie, and four days' later news.

The Persia and the Kangaroo arrived at New York
on the 11th inst.

The dates by this arrival are to the 11th instant,
and the news is of rather an interesting character.
From Washington we learn that the administra-
tion has adopted the determination of strengthening
the government of President Juarez, in Mexico. The
New York Herald, in noticing this, says :—" In view of
the outrageous course pursued by the madman Mira-
mon towards our Consul and citizens in Mexico, and
the refusal of the British Minister to concede the
official courtesy of representing American interests
during the forced absence of Mr. Black, such a course
is rendered necessary. Our citizens resident there
may be forced to fly to the coast for refuge, and our
fleet should be strong enough to protect not only
them but the local authorities who shield them.

Lord Lyons had a protracted interview with the
Secretary of State on the 9th inst., in regard to
Nicaraguan affairs. The amendment made to the
Nicaragua treaty by the government of that country,
to wit, that the United States shall execute their
neutrality laws, is the same article which Sir Wm.
Gore Ouseley has: admitted into his treaty ; and the
British Government object, as the United States
Government does, to any such provision, considering
it a very undignified stipulation to be inserted in a
treaty—that a government shall bind itself to exe-
cute its laws.
There is such information in Washington as to
warrant the belief that the time of settlement of our
affairs with Costa Rica is not far distant.
So far, the Water Witch and the Fulton are the
only vessels to be sent to the Gulf of Mexico, and
these cannot be immediately despatched, as they are
to be overhauled and repaired at Norfolk.
The State and War Departments had made up
their instructions for Utah. 'General Johnston will
hereafter await the orders of the Governor before
calling out the troops to act as a posse comitatus to
assist the civil authorities in the enforcement of the
laws.

The Postmaster General has made a decision
on the bids for the California mail service, but
declines to furnish information, concerning them, for
the Press.

Our files from Bermuda are to the 27th ult., but
they contain nothing of interest.
In Trinidad, West Indies, the immigration agent
general draws the following flattering picture of the
effects of the immigration during the past year :
" Mortgages of ancient date, and almost hopeless
amount, have been settled ; the labourers earn a
higher aggregate of wages : their houses are com-
fortable ; and at this moment the colony can provide
ample means for the further introduction of, needed
labour."
We are informed by Capt. English, of the schohner
Frances, arrived at New York, that it was reported
at Port-au-Platt that the Dominican Govigment has

In their semi-monthly circular for the Africa, Messrs.
De Coppet- and Co. write :—" The general tendency of our
Stock Market during the last two weeks, has again been
downward. The continued decrease of receipts on most of
our lines of railway, and the effects of the political dis•
turbances in Europe, sufficiently account for this decline;
State Stocks : Missouri 6s have faiLn Tennesse 6s, 1;
Virginia 6s, 11-; North Carolina 6s, 1; and Indiana 55,1
per cent. Sales of Kentucky 6s at 1031 to 104; Govern-
ment 5s of 1874, have been in good de:nand, 104 k to 1041.
City and County Bonds have been inactive. Transactions
have been principally confined to St. Louis City 6s, Cincin-
nati Cs, and Louisville 6s; the last named at a slight
advance. A few San Francisco lOs have changed hands at
92i, and interest. Sales vf Clark County (Ky.) Gs, and of
St. Louis County 6s, at previous prices."
-Exchange on London is very firm, at 110 a to 1101.
COTTON.

The political news from Europe, by the late arrivals, has
brought the business in cotton in all the markets of the
country to a stand. Buyers are scarce, and though holders
so far have shown no desire to press their stocks on the
Market, there is' evidently an uneasy feeling as to the result
of actual war on .consumption and price. The Liverpool
market stood the test of adverse influences up to 27th
April remarkably well, for which reason no decline of
moment has taken place on this side ; such is now,
however, the want of confidence, that we shall be governed
more by the course of that market, during the remainder
of the season, than would have been the case had the
political horizon remained clear. The position of cotton
itself h strong, whether taken in view of the winding up
of 'the present crop, or the chances for the extent of the
next. The receipts are reduced to a low amount per week,
and frost, rain, and overflows have retarded the growth of
the new crop, and made the planting season unusually
late. 'I hese considerations, however, are lost sight of in the
more important influence on the result of peace or war in
Europe.
In this market in the early part of last week some more
general looking about was observed, and the sales were to a
fair extent. On Thursday, after the news per Niagara was
made public, a complete pause ensued, and the business
since has been entirely nominal ; holders do not press, and
in the absence of transactions it is impossible to give
reliable quotations. Those annexed must be taken with
allowance, for it might be quite as difficult to buy as to sell
in quantity on such basis. The sales since the 2nd inst.
cannot be estimated at over 2,700 bales. The clearances
during same time have been—to Liverpool, 2,608 bales;
Havre, 1,680 ; Naples, 448. Total, 4,736 bales.
COTTON IN TRANsrru has partaken of the dulness, and
few sales have been consummated. Holders are unwilling
to submit to the views of buyers. On the basis of 6d per
lb free on board with freight, for average Middling
Orleans or Mobiles, we have offered on several thousands
of bales, but have been unable to purchase a single parcel.
The great bulk of what has been sold in this market has
already been sent forward, ,and' time holders of our
present stock of transit cotton, about 25,000 bales, will
probably ship, in the hope of doing better in Liverpool
later on in the season. It is unlikely that during the
remainder of the season any fresh supply will come here for
sale.

" SOUTHERN MARKETS.—,By telegraph we have the business
at Mobile and New Orleans for a week later. Prices had only
declined kc per lb. Middling iii both places was quoted
on Saturday, 7th inst., at 12c per lb. On Monday in
Mobile. the market was nominal, and we are not yet
advised. of the effect upon the Southern markets of the
accounts. to 30th. April.
The Weather' at the South has been unfavourable for the
growing crop The high water in the Mississippi continues,
and much damage is being done. The cotton plant is cer-
tainly
.two weeks later than last year, and the stand by no
means good. The recent frost in Texas has been less disas-
trous than was at first feared.

By telegraph the following has been received

New OitLiANs, May 7.-:Receipts for the week, 9,000
bales (net); same week last year, 17,100. Sales for the
Week; 30,000. Middling 12c. per lb. Exports for the
week : To Great Britain, 17,000 bales ; " Havre, 8,000.
Stock on hand, 192,000 bales. Freight to Liverpool,jd
per lb. May 9th.: Sales to-day, 1,000 bales ; prices easier,
but not quotably lower. The Anglo Saxon's news caused
less firmness, and much irregularity in rates ; Middling
nominally 12c. Freight to Liverpool, tcl.
Moan.; May 7.—Receipts for the week, 4,800 bales,
same week last year, 10,400 ; sales for the week, 6,500.
Middling, 12c. per lb. Export for the week to Great
Britain, 20,000 bales ; stock on hand unsold, 65,000 bales.
Exchange on London, 109* to 109 a per cent. Freight to
Liverpool, 5-16 d. per lb. P.M.—Market quiet. Sales to-
day, 1,000 bales Middling, 12c. 9th.—Sales to-day, 200
bales. The advices per Anglo Saxon put a stop 'to business.
Middling is nominal at 12c. per lb.
Receipts at the ports for the week, 39,000 bales, against
66,900 bales. The excess, as compared with last year, is
reduced to 725,000 bales. Next week a more rapid dimi-
nution will be shown, as by telegraph from New Orleans
and Mobile, we learn that the week's receipts are quite
small.

Exports are large to Great Britain, but from this time
they promise to be on a more moderate scale. The stock on
hand is getting reduced, being now below 500,000 bales in

all the forts.
The following is a statement of the movement in cotton

four years

1859. 1858. 1857. 1856. 1855.
Receipts at Ports .3,502,000 2,777,090 2,779,000 3,244,000 2,366,000
Ex. to G. Britain .1,614,000 1.336,000. 1,195,000 1,537,000 1,104,000
„ to France ... 36,000 322,000 351,000 433,000 312,000

other F. P
Total Exports
Stock on hand .

479',000 282,000 351,000 438,000 210,000
2,461,000 1,940,000 1,900,090 2,498,000 1,716,000
498,000 600,000 355,000 440,000 321,000

Of which, during the past week, included in the above :
Received at Ports ... 39,000 6,6,000 29,000 52,000 55,000.
Ex. to G. Britain 73,009 53,000 16,000 65,000 39,000
France .., 10,000• 8,000 1,000 12,000 14,000

other F. P.
Total Exports .

10,000 19,000
93,000 80,000

3,000 12,000
20,000 89,000

SUMMARY.-Receipts• : Increase at the ports compared with_ 7855
258,000 boles. Exports : Increase to Great. Britain compared with
1856, 77,000 bales, decrease to France aa,ooo, increase to other foreign
ports, 41,000. Total increase in exports 53,050.
Exchange is firm at 10 to 10 for Banker's Bills at sixty days,
and loi for short sight on London ; on Paris the rate varies from
5.121 to 5.11 i.
Freights to. Liverpool for cotton, nominal at 5-32 d ; and to
Havre at lac. WILLIAM P. Wxiesrr & CO.

LATEST NEW 'YORK MARKETS,
Asnns.—The market was unchanged, while sales were
limited, at about 51c. for both sorts.
BREADSTITPFS.—FIour The market was excited, and a
speculative demand prevailed for all kinds of inspected
brands. The sales embraced about 18,030 to 20,000 brls.
of State and Western brands, closing at a further advance
of 10e to 25c per barrel. anadian brands were firm but
nominal. Southern brands also participated iu the advance,
and were quite active. Wheat was also higher, and closed
at a further advance of 3c to se. The transactions em-
braced about 45,000 to 59,000 bushels, including white
Michigan and white Kentucky, at $l. 70c to $1 915 e, red and
mixed Western $1 57c to $1 70e, Milwaulke chili at $1 20e,
Chicago spring at 95c, and white Southern at $1 850.
Indian corn was firmer, with sales of about 45,000 bushels,
including yellow Jersey and Southern at 95e to 98c, mixed
Western at 94c, white Southern and round yellow at 94c
to 95e, and 92c for unsound yellow. Rye was held at 97c
to $l.
FREIGHTS : Engagements were limited. To Liverpool,
about 2,400 kis. rosin were engaged at is 4441; 200 tierces
beef at 2s; 100 brls. pork at is Gd. To London, 200 brls.
beef were engaged at 2s 6d. There were some engagements
made for Bremen on private terms. Some hesitation
existed regarding the shipments of produce to Trieste, on
account of an apprehension that the port might be under
blockade before the goods reached that port.
14mArgiss t Small sales of elayed . Cuba were made at
24e, and 100 brls Cuba muscovado at about 32c.
• NATAL STORES : There was more tone in the maTket tbr

' The contest for the next Presidency does not yet
assume any decided form, although parties are busily
at work. But the fact is that both alike are at a
loss what to do. There are' so many "wheels within
wheels," that the machinery- to be set in motion is a
most complicated one, and requires almost super-
human skill to make it work successfully. "-Both
political parties," says the Nett, Ybrk Tnes; "seem
to he in a state of hopeless confusion, as to both
principles and candidates for the coming Presidential
contest. The Democrats are in rather the worst
predicament, because they are divided among- them-
selves upon fundamental questions ; whereas the
Republicans are only doubting as to the policy of
fighting the battle on their own ground, or sacrificing
something of the advantages of their position fbr the
sake of obtaining reinforcements from the Americans,
old Whigs and Conservatives generally." Of course
you will bear in mind, that our " old Whigs'' are
our great Conservatives : and they carry their Con-
servatism so far, that they are opposed to any
interference with the " peculiar institution "' of the
South, the dissensions regarding which threaten the
stability .of the Union, as well as distract and
disrupt party consolidations. There is a virtual
division in the Democratic ranks upon this question ;
and it is a division of South and North. " The
Southern leaders insist that neither Congress nor
the Territorial Legislature has any right to prohibit
Slavery, and that the Federal Government is in duty
bound to interfere for the protection of

Slave

property in the Territories against the action of their
laws and their people. The Northern Democrats
insist that Congress has nothing whatever to do with
the subject, and that the Territorial Legislature may
make precisely such laws concerning Slave property
as it sees fit subject only to the Federal Constitu-
tion." Such .is the ground of division with one
party. The other party, the Republican, are at
variance as to the form in which their opposition to
Slavery should be put forth. " Some of their
leaders are for repudiating the decision of the
Supreme Court, denying the power of Congress to
prohibit Slavery in the Territories. Others are for
abandoning a position already captured by the enemy
and for giving battle on the field of the foe's own
choosing, of Popular Sovereignty. They insist
merely on the plain and literal interpretation of the
words, and declare their readiness to leave the whole
contest between Freedom and Slavery to be decided
on that basis by the people of the Territories them-
selves and by the natural progress of emigration. It
is not at all unlikely that as the Democrats abandon
the ground of Popular Sovereignty, because it does
not answer the purposes of the South, the Republi-
cans may encamp upon it for the same reason."
Thus the case stands, on either side-. And in this
unsettled state of affairs, where no practical princi-
ples can he agreed upon and established, no wonder
there is such difficulty experienced, with each party
alike, in selecting a candidate who will have any
chance of counting a sufficiently- large majority in
his favour.

The people of the United States are chuckling at
the prospect of their being able to look on and enjoy
the advantages of a European war, without, like
Great Britain, being exposed to any of its evils, or
dread ofevils. " There is nothing," says an influential
New York journal, "in the present commercial
aspect of the world to authorize- the notion-that the
outbreak of a great Continental war can now be
otherwise than beneficial to the great commercial
nations. Such is the present state of our financial
relations with the Old World, that there is every
reason for anticipating a flow of bullion in upon
America as the first result of the increased export
of our raw products which must follow a Continental
conflict, and a sustained' rise in the value of our
general securities as the consequence of any pro-
longed hostilities on the other, side of the water."
And the state of the United States' merchant navy is
considered to be in a favourable• position for such a
conjuncture. An important impulse was given
to the Shipping Interest by the Crimean war;
and even a more valuable Doe still is anticipated.
from the present war. _ " The shrewd policy

observed, " that bids the commercial nation abstain
&Om wars, into which its headlong neighbours

plunge madly, is the one which raised Venice •to
the pinnacle of grandeur, and which will do as
much for the United States, should they continue to
pursue it." And the hope is, not only that they
will continue to put-sue it, but that their mc-rchant

navy is now such-as will enable them to reap its
advantages to an infinitely greater extent than

before,-:raising them of course, as it did Venice, "to
the pinnacle of grandeur.' The benefits were great
which the Shipping, Interest derived from: the war,_
although the panic of 1857, and its ruinous effects,.
destroyed in a great measure the prosperous
influences it was calculated to produce. Yet, it is
declared. " even in spite of that event,_ the enterprise
of the American shipper was never more splendid ,
and far-reaching than it is to-day never was the '
race for the commercial supremacy- of the world's
waters so assured to Yankee competition ; never was
our great rival se painfully sensible of the danger in
which trembles her old maritime renown." You will
receive all this, of course, with a "grain_ of salt."
There is the usual Yankee swagger about it, as you
must perceive. Still it has some substantial truth in
it. And the future is, and not without reason,
argued ft*GM the past. P- Adherence to the same
passive system," it is observed, " was rewarded with
equal prodigality in the, late operations against
China. Neutral Russia, obtained gratuitously all
that England and France paid for so dearly, and a
vast body of privileges incident to her territorial
contiguity as the additional consideration of her
temperate forbearance,. The forbearance of the
United States was also repaid with the utmost the
Chinaman had to give, that they were in a position
to take. The fruit thus gathered, not rudely shaken,
from the tree,, is in our hands. The commerce of
China with the world is rapidly becoming an
American monopoly. Already our tonnage from the
leading ports exceeds that of Great Britain ; it mug
presently exceed that of all the maritime world put
together." And then the writer proceeds to furnish
some statistics of the details of these results, which
certainly appear to bear out his statements. This
great fact, however, seems to me to be overlooked,
that in both the Crimean war and the China war,
England was one of the hostile
parties busily
engaged in the operations of the wars; whereas now
she is a neutral Powers ready to take advantage of
m
all opportunities for promoting her psperity. And
i
XPeok to be the rival,
~ete
in this respect iho must be e
1 perhaps the eakec,eBsiv
• - v'W--"PX America. At gkg

SECOND EDI'IIiON.

NORTHERN TIMES OFFICE, Tt:l

!).ky, 9 A.NL

COMMERCIAL.

The success of the Allies at Montebello has been naended
with a favourable effect on the English Funds. Notwith-
standing the corAinued and remarkable • aosence of
speculative animation, the Funds closed to-day with, a firm
appearance at am advance of per cent. 1n the other
departments- of the Stock Exchange busineds was again
almost at,nstandsti?l, but general firmness prevails. The
Discount Market- is still superabundantly• supplied with
money, anfl fireb-ciass bills up to two .months date are
.readily ttiken at 3,1 per cent., less. In. conse-
quence • of the• difficulty of emplo:ing money, the
London, and; Westminster Bank has this: day announced
that their•rates,of allowance for deposits will henceforth be
2.1 per cent. for sums of £;500 and upwards, and 2 per cent.
for sums below 13,500. The reduction in the former instance
is 1 per cent., and in the latter per cont., There were no-
withdrawalsnf gold from the Bank to-day.• The,Africa has
brought £329,000 in specie from New,, York. About
68,000 in geld half imperials hare •arrived, to-day from
St. Petershurghi and is expected to lie sent to the Continent.
At St Petersburgh the exchange en. London was quote&
331-4. There are buyers of hills at 311.1, with .no sellers at
that price.—. Daily News City Artiatc,fforaavyaereing.
Neitherthe•intelligence of the fight) at Montebello, nor
King of Naples*. produccd ,any effect Olt
but.,
,sometime after the com-

the.-death.a the
the Et fish, fun
men(

—..cent- of-business, arise tc.2: place, in.eousequenee of
several purehases on behalf of fr.e, public, and the consequent
increase in the supply of money „on the•market discounts
have again been effected to-kiy •at lower sates, three
months paper being neg,ociated. /at- ns'.per cent., and six
months at 5. per cent. At liimhucgh, on. Saturday, not-
withstanding the news of the repui3ef Anstrian stock
experienced a rise of 1-} per cent. This anorwinc.r, there has

been a reaction of

Ar::ide
le Daiiq Arnt

Tun MARKET
article; to the fall at MarkAane N

to a reduction of 3s to
Monday, May 16th. 7

er:fran the prices of
D,rewrts the decline to

winn.
The

Times says that, in eirisaquenee of the new
organisation of the lloyal Artilit':y, the appointment of a
major-general to e,,:.4tunand th 4 carps in Ireland has been

discontinued

The Herald states the drafts of the International
Security Bank of liavaaraah were returned yesterday,
accompanied by: instructicr s that they may be presented
again after the arrival of the neat nrtil. Several of the
drafts, ranginfor sums c)f £l,OOO and £2,000, have passed
through the hands of tile notaries.

The- eontrset for the. A,u„stralianmail service, via Panama,
is to be for seven years. The maximum time for performing
the service to or from Melbourne, is to be fifty-five days,
exclusive of the transit across the Isthmus, but proposals
'embracin a shorter time will receive favourable considera-
tion. A premium of £5O will be given for every day less
than t'3e contract period..

„ -
LORD al • RUSSELL A2.ID LORD PALNIERSTON.HUNION OF
THE LIBERAL PARTY.—The _Daily Nezcs points out that
the: present majority against Lord Derby and his policy,
although it is smaller than i n the last Parliament, is about
to be rendered more solid and practicable by co-operatinn,
and goes on to say that as this, involves the cordial
concurrence of Lord John Russell and Lord Palmerston on
parliamentary reform and foreign, policy:it is important to
learn, between these two st:— that a general
agreement on explanation bao,
calculated to give spirit and unit
they are the leaders,

aments,
beei

rrived at, as is
) the party of which

retAhliait days. (if the Derby Ministry are
CABINET,--Thy
--Tha Acteertiser says it can state
wits confidence confidence
numbered. Lord Palmerston and L
)rd John Russell have
come to an understanding, and
the mode by which ejection
of the Derby Ministry Ys to. bo brought about is agreed on—
no less than the thing itself. A
resolution will be brought
forward which will praCtically be a vote of want of confi-
dence, and it will be so worded as to preclude the
possibility of any Liberal, without a forfeiture to all
claim to consistency, voting against it ; and the
resolution being carried, which it is expected to be, by
majority of from fifteen to twenty-five, it will by impossible
for the Ministry to remain one hour;lOnFer in o
that the
John Russell and Lord Palmerston, and remarks
tDefore them.
Star refers, to the rumoured understanding betwifieceei; Lord
i the Without their co-operation no motionag
Govern-
ment can be carried, at 4 they may of the
therefore make terms
Independent Liberals have a great opportiaiiiiiis)i
highly advautageo* to the
Rearm, cause of