Northern Times.
Liverpool, Merseyside, England, 1857-07-02 00:00:00

LITERATURE.

" OPEN SESAME ;" or the Key to National Wealth.
A Currency Tract. is. Wareing Webbe.
The Times is compelled to notice the number of
pamphlets which issue from the press on the sub-
ject of the Bank Charter, and recognises this as a
symptom of increased attention to this dry subject,
and also of increasing dissatisfaction. We have
before us " Open Sesame; or the Key to National
-Wealth ;" but the writer belongs to that numerous
school, who dare not question the necessity of
gold as the basis of a note circulation. If the
writer had analysed his propositions a little more
closely, he .would find that his scheme resolves
itself into the• old delusion of issuing more
" promises to pay," or notes convertible into gold
on demand, than there was gold to meet. This is
merely to precipitate panic, and render it inevitable.
Writers on .Gurrrenny must grapple. more- boldly
with the question, and ask themselves whether an
issue of ExChequer 'one potind- notes, simply de-
clared as "receivable-for taxes," would not form an'
instrument of exchange which the Imperial fiat
could make legal tender, or money for the liquida-
tion of debt and the payment of taxes, and this in
the colonies and the East Indies as well as in the
mother country. To give consistency and unity to
an Empire, his a prime necessity to have an uni-
versal money, that shall be recognised in every
part of her Majesty's dominions.

STREET MUSIC (?)

TO THE EDITOR .01" THE NORTHERN TIMES.

Sir,—l beg to call the attention (through the
columns of your well-conducted paper) of the
authorities to the very great nuisance of the Italian,
.Btc., organ players, who now -frequent the streets,
but more so.:the outskirts of the 'town. They not
only annoy. you .with the discord. of their instru-
ments, but they insult -you with the grossest lan-
guage should you request them to go away, or
refuse to give them anything.
I am informed there is a colony of these pN)ple,
wito.leave .their vile places .of abode early in the
morning, and distribute themselves about the
various parts of the town and neighbourhood
the day time, and return in the evening to their
dens of iniquity,where every species of debauchery
is carried on.

It is dreadful to think such a state of things are al-
lowed to exist. The police should have strict-orders
to remove them, or "move on," especially whenever
any inhabitant of any house should have occasion
to call the attention of the policeman on duty to do
so. What can be more annoying than to have one
of these idle .fellows three or four times. a-day
grinding the." RateatcherS' Daughter," under the
windows of a sick room, which happens daily.—Your
insertion of 'the above remarks will oblige

AN OLD SUBSCRIBER.

OUR MAGISTRATES AND THE POLICE.

MONETARY AND COMMERCIAL.

LIVERPOOL, Wednesday Evening.

There was rather more business doing in the
Cotton Market to-day, and prices of all descrip-
tions were well maintained. The sales are
estimated at 8,000 bales, of which 2,000 were on
Speculation and for Export.
The Liverpool Share Market remains in a very
languid condition. The transactions are but
small, and prices exhibit a further down-
ward tendency. - The day's transactions
consisted of Eastern Counties, 111; Lancashire

and Yorkshire, 1004 ; London and North Western,
1031, 103. 1031, 1631, 1034 ; Manchester, Sheffield;
and Lincolnshire, 444, 441-, 444, 441 411 ; Midland,
831, 834, 831 831 ' • North Eastern, 221, 224 ; Dovers.
224. 224, 224; Dutch Rhenish, 34 d ; Grand
Trunkof Canada, 'l3l, 134, 9-16, 4, 9-16, 4, 11-16,
4,. 4,4, 11-16, 1,4, 9 16. The following
were the closing quotations :=.Blackburn, 71,
74 ; Chester and Birkenhead, 701, 704 ;
Caledonian, 87/, 371 ; Chester and Holyhead,
14, 181 ; Eastern Counties. 114, 11 11-16 ; East
Lancashire, 964, 97 ; Ditto .E 93 shares, 4 13.16 p ;
Great Northern, 244, 241; Great Western, 644,
65 ; Lancashire and Yorkshire Stock, 1001,
1004 ; Do. £9 shares, 1, 1 1-16 p ; Liveipool,
Crosby, and Southport, 194. 191; London
and North Western • Stock, 1034, 1031; Ditto
one-eigthth shares, 3-16, * d ; Manchester,
Sheffield, and Lincolnshire, 444, 444 ; Midland
Stork, 831; North British, 101, 101 ; North
Staffordshire,, 44, 41 d; North Eastern-Berwick,
224, 23 ; York and North Midland, 354, 354 ;
Leeds. Capital Stock, 221 224; South
Eastern and Dover, 22 5-16, 22/ ; Scottish
North Eastern, 124, 12/ ; Buffalo and Lake Huron,
44, 4 d ; Ditto New Shares, 31, 38 d ; Dutch
Rhenish, 34, 3 d ; Great Western of Canada, 214,
214; Ditto New Shares, 4,-4 p ; Great Lux-
ernbehre., 114, 111 d ; Grand 'Trunk of Canada,
134, 134.
There was another decline in the Funds to-day,
and the transactions were of a most limited des-
cription The demand' for Money continues active,
preparations being in progress for commercial' bills
falling due on Saturday, and also for the shipments
of specie which will be made at the same period.
According to some estimates the amount of Silver
then to be despatched will amount to 800,0001, but
the general impression is that it will not be likely
to exceed 700,000/. It is thought that the ship
ments henceforth will be on a smaller scale, not-
withstanding the mutiny in India, and hence the
price or Silver exhibits a declining tendency, the
quotations for bars having receded to 5s lid per
ounce standard. Until the completion of the com-
mercial payments up to the end of the month,
there will be no prospect of any mitigation of the
prevailing stringency -of the Money Market ; but
the opinion is expressed that a further decline in
the minimum rate of discount will then ensue.
On the Stock Exehange there is an active demand
for loans, owing to the settlement in Shares and
Stocks, and as much as 8 per cent. is being paid
for accommodation Consols closed this afternoon
924 to 921 for Money, and 921 to 924 for the Ac-
count, and the same rates were current after
official hours. The New Three per Cents closed
at 924 to 922.
In the London Share Market to-day the transac-
tions were of a most limited character, and prices
were drooping. The closing quotations were as
follows :-Caledonian 744, 744 ; Edinburgh and
Glasgow, 62, 64 ; Eastern Counties, 114, 114 ;
East Laucahire, 97, 98 ; Great Northern, 984, 99 ;
Ditto A, 89, 91 ; Great Western, 641, 641 ; Lan-
cashire and Yorkshire, 1004. 1001'; Leeds Northern,
441, 45 ; London and North Western, 1024, 1024;
London and South Western, 1011,102 ; Manchester,
Sheffield; and Lincolnshire, 44, 441; Midland Stock,
831, 834 ; North British 428, 434; South Eastern-
and Dover, 741, 744-; York, Newcastle,--and Ber-:
wick, 914, 92 ; York and North Midland, 704, 71 ;
Bank Stock, 212 ; Chester and Holyhead, 36, 37;
Grand Trunk, 138,134 ; Great Western of Canada,
211, 211 ; Do. New, 4, 4 ; Great- Southern and
Western, 104, 1.05 ; Mexicans, 224, 23; Northern
of France, 371, 38g.;. Paris and Strasburg, 274.271;-
Do. and Lyons, 58, 584 ; Russian, 109,- 111 ;
Scottish North Eastern Aberdeen, 25, 26 ; Paris
and Orleans, 57, 58 ; Central of France, 244. 241 ;
Sambre and Meuse, 74, 84; Namur and Liege,
8. 84; Great Luxembourg, 64, 64 ; Antwerp and.
Rotterdam, 64, 64 ; Dutch Rhenish, 91, 104 ;-
After official hours the following were the prices.
paid :-Caledonian 741, 741 ; Eastern Counties
11.71,114; East Lancashire 96, 98 ;" Great Northern
984, 99; Do. A 89, 91; Great Western 644, 644 ;
Lancashire and Yorkshire 1001, 1004 ; Leeds
Northern 444; London and North Western 1001;
Midland Stock 834 831 ; Nortth British 431; South
Eastern and Dover 74k. 744 ; York, Newcastle, and
Berwick 911, 924 ; York and North Midland
701, 714.
The General Produce Markets continue quiet,
with a moderate business, at firm prices.
At the London Corn M arket the business done
to-day was quite of a retail character and prices
of all kinds are nominally the same as on Monday
last.

The meeting of the Liverpool and Australian
Navigation Company took place yesterday, at the
company's offices, 1, North John-street; when the
annual accounts were brought forward, and the
report of the Directors read, from which it appears,
that not only have the expenses attending the
Great Britain's" refit, after her discharge from
the transport service been provided for—but a large
amount has been set aside for depreciation,
although both the " Great Britain" and " Royal
Charter" are believed to be as complete as they can
be made, and not likely to require any outlay for
some years to come, beyond the ordinary disburs-
ments of each voyage.
• The first ordinary meeting of the New Bruns-
wick and Canada Lend and Railway Company was
held yesterday. The report stated that the works
were progressing satisfactorily, and that in a short
time the line would be open for more than 60 miles
from St.. Andrews. The bill now before Parliament
would include the transfer of the class A shares.
From the accounts, it appeared that the money
received by the company was 23,1981., and the sum
expended 4150/. 165., leaving a cash balance of
8,7471. 4s. The report was agreed to, after some
discussion.
The Ballarat has arrived in the Downs from
China with 810.5001bs of Tea, and 325 bales Silk.
The Report of the Peel River Company, issued
preparatory to their meeting on the 14th inst.,
states the profits for the year ending the 31st
December, to have been 8,9341. A dividend of is
per share (amounting to 6,000) is recommended.
The Committee of Mexican Bondholders have
received advices dated Mexico, 2nd ult. Payments
continued suspended in- all the ports except
Mazatland and Manzanillo. The agents of the
Bondholders in the former port had forwarded
13,769 dols, by way of Panama,retaining 1,167 dols
in bills for collection ; and the agents, in Manzs.aillo
had recovered upwards of 21,000 dols, which it was
also intended to forward by way of Panama.
Senor Yglesias had been appointed Minister of
Finance, in lieu of Senor Fuentes. who resumes
the Ministry of Foreign Affairs The new Minis-
ter of Finance is thoroughly conversant with the
business of the Foreign Debt, and it is much to
be desired that his health may prove equal to the
soil, and the great difficulties of his new office.
Another conspiracy had been discovered and
nippel in the bud, but the country generally was
tranquil.
The settlement in the Tallow Market yesterday
passed off without any declared embarrassments,
notwithstanding the recent extraordinary move-
ments of speculation. The nature of these will be
understood from the fact that 75s per cwt. was
paid for tallow for yesterday's settlement, whilst
the same article could be purchased for delivery
next month at .595, showing a difference of no less
than 161 per ton. The speculative buyers of
tallow have, upon this occasion, as was the case
some short time ago, obtained the upper hand of
the speculative sellers, and have organized a re-
markable " rig." We cannot help tblnking that
the extent to which speculation. is at present
carried is calculated to prejudice greatly the entire
trade in this article.
In the Bankruptcy Court, yesterday, the period

allowed for the surender of Colonel Waugh, of the
London and Eastern Bank, was exta nded until the
18th September, it being alleged tha t he is ill, at
Marseilles.
Sellers of Indian Guaranteed Railway Stocks
still predominate.
A 'special meeting of the Great Norther'n Railway,
Company is called for the Bth of-July, to consider
a bill authorising the construction of aF railway
from Castle Douglas to Portpatrick.
A special meeting of the Irish Peat Compony is
called for the 7th July, "to adopt such steps as
may be deeined expedient for carrying on or wind-
ing up the company."
The price 'at which the Northern of France
Railway Company is authorised to issue the new
capital of 100,000 shares is 575 f., or say 234 per
share of 201.; and it is understood that tho opera-
lion will be carried through before the middle of
July. The 115,000 new shares of the amalgamated
Lyons and Mediterranean Company are to bo
issued at the rate of 735 f. per share of 500 f.