Northern Times.
Liverpool, Merseyside, England, 1860-01-18 00:00:00

NEXT WFX,K.

An Monday nOxt, the 3411 instant, at Twelve o'cloeit, at th
Brokers' Office, 2 Dale,ttreet, . .
237 Ewa CLOVES.
BROWNE, HUNTED., & CO.; Brokeril.

MONETARY 'AND COMMERCIAL.

LIVERPOOL, Tuesday Evening.

The'rotton Market to-day was more active,
and a,botter demand prevailed.' The sales reached
10,000 bales, of.which 13,000 .were for export -or
taken,on,speculation. Prices were not change/I.

In the liverPcol Sharp Market business opened
comsid erable buoyancy, .and higher, prices
were paid: Few transactions, hove 7er, • took
place,; attil during the day the tone became
mare loose, the market"closing without: acti-
vity at a Slight reduction upon ;the morning's
currency. The transactions - included East-.
ern Counties at 11 7-16, =II Great Western,.
701, y;. Lancashire and Yorkshire; 102.1, ; Lon-
don and North IVeStern, 991, &, a ; Manchester,'
Sheffield, , and Lincolnshire, 39i, &, ;4 ; Mary-
port and CarliPle, 512 ; Midland, 110&,
North • British, 63 North Eastern—Berwick
Stock, §5 ; South Eastern, 25& ;.15titch Rhenish,
47,d. ' Grand Trunk of Canada, Wl, 3-16 ; Ditto
Sevc,n per Ceat„ 1872, cum int, 771; Ditto;
Seven per. Cent.„•4B72, cum int., second issue, 76
North Western, leased to Midland,' 141; Liverpool
and-London Fire and. Life Insurance, 7 9-16 p. •

C1.091/470
Chester & B'head 77 774
Caledonian .... Osk '953
E. Counties 11 5-16 11 7-16
G. N.. Stock . 1073 108 k
Great Westerns.. 7014 lb!
Lan. and York. 102 t
Ln. & Nor. West. 99, fat
„ 4-shares .... 5-16 d
S. and Lincoln 39a 391
Midland Stock 110 f,
N. British Stock . 6214 '63 !'
N. Stafford .. . . 3.1• 3ad

PRICES.

N. E. Ber. C. Stock -94-44, -951
York capital Stock 78+ 78a
Leeds Stock . . . . 48+ 481
S. Eastern.. . 25 9-16 25'4
Dutch Rhen. 41 4ad
Gt. Luxein. 7 74-
G. T. of Cana... 10.1 101
G. W. Oda. .. . . 123 12,,
new shares 8 7fid
Buffalo &L. II urou 41 5
Lomb-Venetian .2,1
Great Ship ....11,16 12/6

LONDON STOCK EXCHANGE.

'Tuesday Evening.

:The Market for- English Securities opened
firmly, and the best prices of yesterday were fully
maintained. - -Consols opened at the closing prices
of yi-AtPrday ; althmigh business has not
extended in any material degree, a generally.
satisfactory feeling preinils. Consols for money
are now quoted 951 to .10 and 9t to -1 for
the account ; Bank Stock has been dealt in
at 2293, 228, and 230; Reduced Three per Cents.,
95k, a ; India Stock, 2221; ditto Debentures, 981,
; ditto Enforced Paper, 97t, 4 ; ditto Five-
and-a-Half per Cents., 104 ; and Exchequer Bills,
285., 315., and 275. prem, New Indian Five per
Cent. Loan is firm at 1044-- to 1044. Canada New
Loan is quoted 3Z- 01 prem. Turkey Bank
Shares are at dis. to par, and Ocean Marine lf
to 11 prem. .

In the English Railway Share Market, business
was limited, chiefly on account of the settlement;
prices, however, were well sustained. Great
NOrthern, Great Western, London and North-
Westerns, and South-Eastern have improved
ncarly per cent.

The market for Foreign Securities, though
quiet, was firm in tone. It evinced a tendency
towards better prices. Peruvian Four-and-a-
per cents have been done at 941 and 95 ; Spanish
Threes, at 441 ; Original Turkish are quoted 79
to 791.; and the New Sixes,.66A to 70.

The quotation for French Routes at a quarter,

A . 4 Flour.
INTO 0 43 ct , A 4 6 a
LIVERPOOL,
paom Qrs. Qrs., Qrs. Qrs. Qrs. Qrs Sks. Sks. Brls.
Ireland l3 3 851 ... 3400 1402
Coastwise
Canada,&c . . 51 .. 800 ... 209 • ... • 229
U. -Statcs
___.
Europe,&c: 7280 693 .. 540 ... ... 6907 ...
Egypt
INTO
RONCOR.N 2172 ... 2399 ...
Total 112)43 741 1101 1746 80012882 5999 8339 7080
EXPORTS TO — --•—•
For. Parts . . . 566 ... 35 63 25
Ireland 63.4 . . 1153 . . 1068 260
Coastwise
LIVERPOOL AGRICULTURAL MARKET, JAN. 17.

Hay, old ...,

fOL AGRICULTURAL
8. d. s. d.
011 to 012 Potatos, kern'

JAN. 17.
s. d. s. d.
le 3 9 to

Ditto, new 0 9 ... 011 Do, Seedlings. 2 7 2,11 11
Ditto,"clover 010 ... 011 Do. whiterocks 2 G 2 8
Green Clover 0 0 ... 0 0 Do. Balshaw . 0 0 ~. 0 0
Vetches 0 0 ... 0 0 Do. Beldrums. 0 sit ..: 0 0
Straw, wheat 0 S ... 0 6 Do. cattle .
Ditto, oat 0 6 0 oa Turnips lB 0 ...20 0
Ditto, barley.. 0 4a 0 5 Carrots
Oats, in straw. 0 0 ... 0 0 Mangelwurzel 15 0 :..17 0
Potatos, flukes 3 4 ... 3 8 Manure 5 G ... 7 0

THE DAY'S NEWS.

By telegraph, from Queenstown, we have.
received some Ft4ditionaL.but not very important
American news, to the ith instant. By the latest
intelligence that' had reached -New Y'Ork, It ap-
pears that Rio Grande had been taken by Cortinas
with 500 men, and subsequently retaken by a body
of troops and rangers under Captain Ford, who was
wounded in leading on tLe attack. On both sides
a considerable number were killed and wounded.
Cortinas hadfled across the river. - •

• The critical position of the Pope and the Holy.
See is now, of course;. admitted on all hands; and
we cannot but think that existing difficulties
must be greatly aggravated, if the report be,
correct, by the fact that the 'Court of Rothe 'is
divided into two markedly opposite parties—the'
one said to be in favour of making concessions,
whilst the other insists on maintaining the
asserted prerogatives of the Holy See at all risks.
Upon the whole, judging from the various
rumours which reach us, and other indications,
we would infer that as yet the Pope is.determined
to offer, if not active resistance, at least an
obstinate refusal to submit to the propositions of
the French Emperor. In furtherance of this
policy, the withdrawal of his Holiness from
Rome seems at present to be in contemplation ;
but as this, we suppose, can scarcely take place
while the French troops remain there, the talk is
that they are likely soon to evacuate the Roman
capital,—immediately after which, or simul-
taneously with it, the Pope, it is expected, will
betake himself to Benevento,—an ancient city of
Naples. We are inclined to question the proba-
bility of the Emperor Napoleon ordering any
step that -would permit his Holiness' to escape
from his own keeping as at present, to that of the
King of Naples ; and, therefore, we see little
likelihood of the French troops being withdrawn
from Rome, at all events until the state of affairs

*amines another, anL-very, different aspect from
that which hiiricitlbien deteloped at the Papal
•-•-

Austria continues practically to encourage the
Papal Government in its hopes of being able
perhaps- by force ,to resist or repet, all encroach-
nient on the Pope's temporal dominions, by fur-
nishing for the Papal arniy., icompu-
nication from Vienna says that volunteers, among
whom are Saxons and Prussians, continue to flock
in; _and a new detachment of these was about to
be despatched from Meidling, near. Vienna, to
Trieke---Ithe principal Austrian seaport in Illyria,
from which, of course,_ they could conveniently
be shipped across the Adriatic to Ancona, or
elsewhere.

A considerable amount of dissatisfaction seems
to ,prevail in • several parts of Northern Italy, in
consequence of the high price of provisionsrand
the heavy amount of taxation imposed upon the
At-Parma there has bee-na.bre-a.a riot, in
il4 course of which the- mob 'kindly demaided
the recall of Garibaldi; and the dismissal of the
Commander of the National GUardi and -force
had to be employed, and, a number, of arrests
, •
Made before order was restored. The population
of: Lombardy, more particularly, complain that
the war-tax imposed by Austria, is not only con-
tinued, but that to it has beenadded another4tax
by Sardinia.
. .

On a recent occasion we directed attention to a
report that appeared in the Opinione Nfitionale—
a Turin journal which was supposed to be amongst
the initiated—that France would approve of con-
ceding to the Italians their desire for annexation
to Piedmont, upon the condition that. Nice and
Savoy should be restored to France. A flat con-
tradiction, however, has now been given to this
report, by the new Governor of Savoy, who on
the occasion•of his entering-on his functions, has
taken the opportunity 'of 'denying that such athing
had ever' been contemplated. Of course it did
not lie in his 'path to, contradict that part of the
report as to Nice, but on. the: principle of fulsum
z4n uno, falsunt in omnibus, we may be justified
in looking upon, the. report as altogether and
authoritatively contradicted.
The EmperOr's letter :on the new commercial
system which he proposes to introduce is the
great -topic of the day at Paris. The subject is
spoken of with great caution; and extreme sensi-
tiveness is manifested with regard to any meddling
with the tariff. This feeling, however, is looked
upon as very healthy_ and not unpromising
symptom in the present 'state of the -case.
things considered, it is, perhaps, only what might
naturally have been looked for from a people who
have practically had SO little means of forming
a sound opinion as toeth probable effects of such
a policy as''that .sketcher by the Emperor. What
better evidence could be given of their present ina-
bility to form any just-estimate of the practical
working of the new scheme, than the fact that the
great majority of them are understood to consider
the Emperor's proposal as merely an attempt to
conciliate England, at the expense of French
interests.- They do not comprehend its true
scope ; but a tasting of its happy fruits would,
Probably,- more than anything else, assist them in
fOrthing a 'very different opinion of the measure,
and enable them to see it in its true light.
The Times is of opinion that the French Em-
peror " is, doing wiself in. following the example
of Sir Robert Peel, who first emancipated' from
import duties the raw material of: manufactures,
and that ho is prudent in replacing Prohibition
by Protection without at once carrying the change
to its legitimate result,—the imposition of duties
merely for the purpose; of raising revenue,"—
adding, however, that he will have real and pre-
tended- opposition to contend with. " We," con-
tinues our) contemporary,. "know it well: We
have had to conquer it ourselves, and we sincerely,
hope that in France, as with us, the advocates of
restriction will be allowed the fullest licence." It
is hoped that although we may not be in any good
condition ourselves, at present, to reduce revenue,
yet " that it may be 'in the power' of the Chan-
cellor, of the Exchequer, in consideration of the
impulse these changes must give to British
commerce, and the probable increase in the
'Customs revenue, to make some reduction in the
duties on French p'rodu'cts, which'Will be, at any
rate, an 'earnest of goodwill." It is on every •
account most important to show such an earnest.
Nothing, we may depend upon it, will tend to
consolidate the peace and amity of the two ,
countries more effectually than such a course.
The leading journal is constrained to acknow-
ledge, in reviewing, the,,lShipping Trade for the
past, year, that freights have been on the whole
unremunerative. This is what we ourselves have
invariably contended for ; and the fact it seems
has now become so palpable as to be no longer
resiste& It is further acknowledged that " the
shipping trade for the past year has perhaps had
the smallest balance to ite credit of any trade or
braneh .ot commerce among us,—in most cases,
indeed, a balance against the account is shown,"
of
fto the cause of such
.one of o!f the
su
rgerleya ttehset
tainmde usthmisist
cometobe
tor inecorqdueirde
calamitousinrteeerueslttes. of the country

ON the principle that storms and calms alternate
with equal intensity, the present torpor in the
political world ought to be anticipative of a very
troublous season at hand. Of late years political
passions have been kept in more or less constraint
by the pressure of circumstances involving our
foreign relations. A country engaged in or just
escaped from a war, or fearing and trying to
keep out of one, cannot be expected to find lei-
sure for the , discussion of domestic questions,
many of which would, at other times, cQmpletely
absorb the attention of the people and their
repre,sentaties, some nine or ten months ago,

the political necetty of the dff.. was a ministri
who would kttp 'well out Of the Italian War'
and at the same time 'preserve a good under'
standing 'with the French Emperer;
harshly upon the conduct of Liberal leaders
the House and partisans in the country, that 10
critical period was chosen for forcibly pressing
upon Lord DERBY the, 'at the time,. fictitious never
'sity for a Reform Bill. It reflects. still le
harshly upon their 'patriotism and disinterested"
ness, that they received the Bill which Lord
DERBY proposed with an acrimonious and °'
generous spirit, and evinced,. from, the first, Or
,thing but a determination to use it as an engine
for turning out the Government and makiPg
way for themselves. It seems' inconsistent with
.the circumstances of the, time, that such a Ves;
tion could be 'at all used as a mere instrument 01
faction. But the improper spectacle which po"
ties presented at a moment of external difficult'
can be explained by the fact of Lord JOHN Bts'
SELL'S restless. activity and unscrupulous tact'
and by theuntnithful endeavouramade to pro'
pagate throughont the country an impressier)?
that Lord DERBY'S
..Geferiiiiieht .was
biassed on the Italian question. against the trail'
tions- of English policy. Yet the success of the
tactics adopted by Lord JOHN RUSSELL, and the
means he had to employ, have not tended to raise
his reputation. Unless public opinion has al'
ready given him up, even he is yet on his try
and, what is supposed to be more than it ought
to be with him, the fortunes of the ministry be
is identified with, are bound up perhaps 101. c
with the comPlexiln which his own political cow
duet is to assume, than with anything, else. The.
narrow majority with which he ousted the.
Conservative Government from its places was
legally proved to have been purchased bf
the wages of corruption ; and the first ink"
cation given to ilia pUblic of the policy whiell
was to supersede Lord DERBY'S was the
offer of an alliance openly tendered to 3'l'
theß nt
cGoll:ntry, it
and hiswas parts.evid en t
to. It
wasaneymid•heont hadt
assisted to turn out the Conservative Preraierr
that if Lord JOHN RUSSELL had found it consis"
tent with his secret intentions in opposing the
recent Government, to take Mr. BRIGHT's f°l'
lowers into his counsels, he had taken office, 11:11c1'

pledged his party, under false pretences. Tll6
country was not prepared for democratising its'
institutions ; and even if the advances to °I
democrats were merely a make-believe, dictated
by dishonest party exigencies, public opinion
was disposed to view coquetry with a thorough
unconstitutional faction as an insult to the conic
try, and an injury to the Constitution. The
question, therefore, has become one of sore
anxiety, how far Mr. BRIGHT'S opinions are to be
considered in the concoction of the comingßef"lf
Bill? To plain men it seemed clear, that unless
these opinions had been -entertained with tl

certain amount ;of favour, theke could be
motive for any special 'and otherwise unnatural
attempt to enlist the sympathies, or propitiate
the enmities,
that person and llis
followers.. There is enough strength in the
House of Commons to justify any patriotic minis'
ter in bidding defiance to the BRIGHT Sectioo'
The only possible motive for attempts to cheat
them into lending support or withdrawing opisr.
sition, can be supplied by factious party necessi.
ties which the minister has himself created; the
true
.interpretation of such motive being. tile
personal desire for place, and a disregard of the
means of obtaining or keeping it. If Lord JOO4.
RUSSELL had really wished to assist the Conser
vative party in introducing the reforms and
modifications, of which the necessity or the"
expediency can be fairly established, the Nag
was open ; and the unpleasant alternative of 3'
Brightean alliance would have been avoided.
His vanity, however, forbade his relinquishment
of that vague and preposterous notion, that a
deep principle is involved in the Reform question
of which he is the special and delegated exponent'"
It suited him still to push himself before •the
country, as having been invested with a peculiar
mission by a sort of right-divine, which• it
would be profanity for anyone else, no matter
how able, or how honest, or how
much in
accordance with the wishes of the nation, tcr
discharge. On the other hand, it must have
been a more selfish feeling that led liirn to a
pretence of sympathy with Mr. Baluirr's follow-
ers, to which he was impelled by his antago-
nistic position to the party then in power.

The day of reckoning, however, is at hand.-
The country puts together this strange coalition
with the extreme Radicals, and the Constitu-
tional manifesto at Aberdeen, and is perhaps
puzzled to say which is to influence the great
measure of the session. We are not uncharitable'
in drawing this' inference from recent events ;:
namely, that Lord JOHN' RUSSELL will bid for
the support of the democrats only so far as he
finds:it necessary to keep him in office. Tie has
so laid the train, that either an extreme or a
moderate course may seem open to him. But
neither is open to him except at the expense of
his consistency. For our parts, we could wish-
that a missestimate of his political safety world
lead him into an extravagant bid for democratic-
support, as the best means of paving the wa,r
for the return of a Constitutional ministry tck
power.

THE SCOTCH REFORM BILL.—We have .every resolg
to believe that the reform bill for Scotlar d Ii s bcen
epared, and that it does not contain any clauses placir•g
Scotland on an equality with England in the mat 0: DI
the county franchise.• It is said not to go farther than
the outline given by Lord-Advocate Baillie, cnd gr.
Peter Blackburn, of what the Scotch bill of the Der.ll,
Government. was to consist—viz., a £lO occupancy an',
£5 property franchise. We are neither to have a .1'"
property franchise like England,' nor any right to the
burgh freeholders to vote in the county,—EdinburgA
Arms,