Northern Times.
Liverpool, Merseyside, England, 1859-01-17 00:00:00

FRANCE AND AUSTRIA

The article of the Constitutionnel as to the panic
on the Bourse, reported by telegraph, comes to
hand to-day. The Paris correspondent of the
Times, says :

It vas drawn up af-the- Fereign Office yesierday,- as it
stands to-day, in the Onstitutionnel. It was written on
office paper, in the usual official fOrm, " a rivulet of
manuscript running through a meadow of margin," in
that peculiar fair hand familiar to clerks and private
secretaries, and, in fine, bearing all over, an official
character. The writer attributes the alarm to three
'causes—the words addressed by 'the Emperor to Baron
Hubner at the New-year's-day levee, the speech of the
Kin.- of Sardinia, and the marriage of Prince Napoleon
with the Princess of Savoy ; and he expresses his surprise
that they should produce such effects.
The article first explains as to the words of the
Emperor to Baron Hubner :
The words of the Emperor ! What do they contain ?
Only an expression of regret that the diplomatic relations
between France awl Austria are less cordial than they
have been, and an assurance that this discord' has not in
any way changed the personal sentiments of the Sovereigns
towards each other.

It then states that " every one knows that there
were differences between Austria and France" as
regards the execution of the Treaty of Paris and
the proliosed Austrian intervention in Servia.
The King of Piedmont's speech is .then alluded
to, and justified as quite natural under the cir-
cumstances. As to the marriage of Prince Napo-
leon with a Princess of the House of Savoy, it will
certainly " draw still closer the bonds of political
union between France and Piedmont," but the
sympathy of France for Piedmont was no secret.
The writer thus concludes:
If, contrary to all expectations, hostilities should
arise, the French Government would certainly not hesi-
tate to adopt the measures best calculated to protect
the interests of the country; but we are convinced
beforehand that in such an hypothesis it would
not deviate in the least from that rectitude and
thoughtful prudence which it invariably displays in all
international relations. We must, therefore, most
earnestly deprecate the unfounded alarms arising from
the gencral situation of affairs, and the supposed inten-
tions of the French goVernment ; its policy during the
last six years has been one continued protest against such
alarms, and leaves no-room to doubt of its firm resolution,
under all circumstances and at all times, to have justice
and the public opinion. of Europe on its side.

INDIA AND CHINA.

THE CALCUTTA MAIL

The Times' Second. Edition has a letter from its
own correspondent at Calcutta, brought by the
mail of December 8, the news by which was given
in our paper of Friday. The letter is a day later
in date than the newspapers, whose' contents have
been already given, but it contains no news of
interest.

We have also a letter from Hong Kong, dated
November 30. We read :-" Our advices from
Shanghai are to the 22nd inst., but contain little
interest, beyond the publication of the new tariff
and trade regulations, which, although not pub-
lished officially, may, we think, be depended on.
I send you a copy of the documents in quastion."

The export duties on tea and silk remain as before,
and the only reduction of any importance is on cotton
manufactures. Opium is legalised, and the import duty
fixed at 30 taels per picul. This is somewhat under the
amount levied at present-at the. southern ports, but above
that exacted at Shanghai, -which has been strictly paid,
although not acknoWledged by the Imperial government.
The transit duties to and from the interior are fixed at
one-half the amounts levied at the ports, and this applies
to all imports and exports, with the exception of opium,
which is not included in this arrangement.
The tariff regulations have been signed by Lord Elgin
and Mr. Reed, but Baron Gros had not attached his
signature when the mail left Shanghai ; but it was
understood that he would do so; and then proceed to
Hong Kong • where his Excellency Mr. Reed has already
arrived in the United Steamer Minnesota.

The movements of Lord Elgin are uncertain, and all
that is known of the Yangtsze Kianhr expedition is that
the steamers Retribution and Furious had grounded
about forty miles from Woosung, but had got off after
being lightened: The gunboats had found the proper
channel, and the expedition would proceed forthwith.
The Chinese merchants look with great anxiety to
the result of this expedition.
At Canton -all remains quiet, and business proceeds
without interruption.
His Excellency Sir John Bowring left for Manilla
yesterday, on sick 'certificate, in her Majesty's steamer
Magicienne, and the government of the colony is vested
in the Lieutenant Governor, the Hon. Lieutenant-Colonel
Caine.