Northern Times.
Liverpool, Merseyside, England, 1860-02-14 00:00:00

TO THE TRADE.

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THE DAY'S NEWS.

In the House of Lords, last night, nothing of
great moment passed. It was intimated that the
Endowed Schools Bill would not be referred to a
Select Committee. The Marquis of Normanby
moved for a return of the dates of the com-
munications between England and France re-
specting the recognition of the Government of
Central Italy. The Indictable Offences (Metro-
politan Districts) Bill was read a second time.
A petition was presented from the Vestry of St.
George's-in-the-East, asking the interference of
Parliament to put an end to the present deplorable
state of matters there, which led to some desultory
discussion between the Bishops of Exeter and
London.

In the. House of Commons new writs were
ordered, for Ennis and Cbik. It was intimated
that- the English and French Commissioners to
Newfoundland had sent in. their report, but the
approval of the French Government had not
been received. Attention was drawn to the
Chinese question ; and some discussion ensued,
in . the. course of which the conduct of Mr.
Bruce was censurad by Mr. B. Cochrane .
and defended by Lord John Russell- and
Lord Palmerston ; and Sir Charles Napier
paid a high compliment to Admiral Hope. Sir
J. Elphinstone urged- the necessity for an imme-
diate consideration of the whole Chinese diffi-
culty. Mr. Kinglake and. Sir R. Peel 'protested
against the postponement - of. the discussion
of the Savoy annexation question. Some
remarks. were made by various -members. upon
the French Commercial Treaty as it affects the
'coal trade. Mr. W. Williams complained of
the large expenditure proposed for the army and
navy in time of peace. On the House going into
Committee of Supply, Lord C. Paget moved the
navy estimates. He admitted that the sum he was
to ask was an enormous one ; but in justification
of it he urged on the one hand that even were
any other nation to disarm, our commerce and
colonies made it necessary for us to keep up a
large naval force for the police of the seas ; while,
on the other hand, we had suddenly found our-
selves so placed, as compared with our neigh-
bours, that we had to use every diligence to
, regain,our former superiority ; a statement which
he illustrated by a detailed comparison of
the navies of France and of Russia with that of
our own country. The' increase of expense, he
stated, arose chiefly from the increase in the
number of the men, and the transport of the
troops. The first vote was for an addition of
11,700 men and boys, at an increase of expense
. over laSt year' of abeye £400,000. This was in
addition to the naval reserve of 6,000 men. The
second- vote for the Admiralty showed an increase
over last year. of £14,000, to supplement the
additional assistance required by the present
staff of officers: Coming to the Volunteer expenses,
he observed that although a strong-prejudice had
existed aeninst enrolling, there was no longer
any difficulty, and the naVy was in a fair way of
being- fully manned. Additional assistance was
'required in the dockya' ds. After alluding to the
expense of building vessels, of new works, and
of miscellaneous services, his lordship said it
was with pain he propounded estimates involy
lug so large an expenditure, and he concluded
by proposing a vote for 85,500 men and boys,
and the sum of £3,496,757 for wages. Sir
John Pakington complimented the noble Lord
on his statement, of which he entirely approved.
Sir C. Na-pier and Sir J; Elphinstone having
urged some complaints, and after some. explana-
tion 'and discussion, the votes asked for were
agreed to.
The royal mail stearn§hip'Africa has brought
us intelligence from the United States, it wilt be
seen, to the Ist inst. Its interest is almost wholly
centered in the Congressional proceedings at
Washington, . which had become all the more
exciting, since the house had arrived within a
single Note of the election of a Speaker. Both
the Republicans and the Democrats had
changed their candidates, and the movement
has 'had the effect
,of giving a decided
advantage to 'the Republicans. The number of
votes necessary to, r a eheice was 117, and the
Republican Candidate obtained as many as 116,
while the Democratic candidate had only 91 votes.
This result had evidently given fresh courage to
the Republicans, and . was likely to strengthen
their hands. So satisfied, indeed, would their
opponents appear to have been of this, that they
contrived to get an adjournment so as to put off
the evil day. On the morrow, however, anather
vote was to be taken ; andns but one was want-
ing to effect the object in view, there is very
little doubt' that at length. a speaker has been
elepted, and that victory 'was on , the side of
the Republicans. This result augurs favourably for
Republican interests -in the ensuing election for
the Presidency—a subject which• is. beginning to
be an exciting one, as the time of election draws
near. It is quite evident, indeed, as it is observed
by one of the New York journalS,•which we have
• quoted elsewhere, that " it has become apparent by
this time to the most superficial observers of the
politipal horizon,, that, there never has been a
more critical period in the history of the United
States than the present:"
The news from. the seat :of war in Morocco
continues to. show the
,success of the Spanish
troops, which were pushing, headed by their
prince, towards Tangiers, and - appear to have
been well received by .the population of the
country through which they passed.
The reply of AuStria to the English propo-
sitions, it will be seen from our late intelligence,
has reached Paris. Austria will not oppose, by
force of arms, what is called the " great experi-
ment in Central Italy,"—but refuses to give her
consent to any proposals inconsistent with the
treaties of Villafranca and Zurich. By a later
telegram, however, it is, denied that the Austrian
'reply has been received.
Russia, it seems, is not disposed to accede to
the.EnglishspropOsitions without the intervention
of a Congress,—to which France, of course,. has
no objections.
,The Paris Moniteur, the-semi-official organ of
the French Government, boasts that the "Im-
perialinaster Of France," thrdugh the Commercial
Treaty with England, has inaugurated a policy
of peace ; and that the clouds which have
darkened the 'political horizon of . Europe will
thereby be swept away,----France and England
becoming united 'by ties which no disturbing
cause will easily unloose. But, as the Morning
Herald well asks, "What/ then, mean these notes 1
of war in every country on the continent of
Eur Ope ? What means this project for the an-
nexation of. Savoy and. Nice to France,—
in which no reasoning man refuses to'believe ?
Why is it that we are compelled, in self-defence,
to appeal to the patriotism of the youth of

England, to re-construct our navy, and hasten on
our workmen who are constructing ArMstrong's
guns ?" These are practical questions ; and there
are convictions arising out of them that no honest
mind can resist,. and which may well make us
pause ere we weaken in any degree national.
influences that are necessary for our self-defenee,
by,any commercial or political sacrifice, in order
to propitiate Napoleon 111.
The Jimes, in its city article, enumerates a
number of interests that are thought likely to
combine against the Budget,—the brewing in-
terest, the Colonial. timber interest, the Cape
interest, the distillers' interest, and others. Still,
the leading journal is of opinion, that "it will be
impossible to collect an antagonistic force whose
voice will not be overpowered, or that will have
an opportunity of contriving alterations to affect
the measure in its integrity." This, however,
remains to be proved. It might, no doubt, be
calculated upon with more certainty, were there
no such penalty to be paid, in return for its
somewhat equivocal advantages, as that of a
continued and increased income-tax.

Another Liberal journal, we observe, 'declares
that, " but for the addition of £10,000,000 to
£12,000,000 within six years to our military,
expenditure, there would be a surplus sufficient
to carry out the stipulations of the treaty, and to
extend them to all the world, besides abolishing the
paper duty." But who has occasioned the neces-
sity for this growing increase of our military
expenditure ? Who but the very potentate, our
commercial treaty with whom is the starting
point, as it were, of the new Budget. This is a
question which cannot be too carefully considered.
We are all aware that commerce, under ordinary
circumstances, is not only a great eiviliser, but a
great pacifier of nations. Commercial ties will
bind countries together in amity when nothing
else will. But then the circumstances of
the present case are by no means ordinary.
The French Emperor is one who would not,
it is to be feared, let any sucali considerations
stand in the way of his ambitious projects. And
hence the risk that is run by any such alliance as
will involve a sacrifice on our part which may
weaken, in any degree, our powers of resistance,
should occasion unhappily arise to call them
forth.

It is understood, we find, that a meeting of
Lord Derby's supporters is to take place at his
lordship's residence in London; on Wednesday,
with reference to the budget. What course.the
Conservative party of the House of Commons will
take with regard to it will then be determined
upon.
By the latest intelligence we are positively
informed that Mr. Fitzgerald, the Attorney-
General, succeeds Judge Prrin, who has retired
from the Irish Bench in consequence of ill-health.
This causes a vacancy in the representation of
Ennis. Mr. Deasy, Solicitor-General, succeeds to
the Attorney Generalship, which causes a vacancy
in the representation of Cork. New writs for
both places have been ordered. It is not known
who is to succeed to the Solicitor-Generalship,
but Mr. Sergeant O'Hagan and Mr. Lawson are
severally mentioned.
We can do no more, at present, than point
attention to the very interesting discussion we
have so fully reported elsewhere, at the meeting
of our Chumber of Commerce, yesterday. The
subject under consideration was the Budget, upon
the merits of which, it will be seen, there was a
great difference of opinion—some of the most
sagacious and experienced of our mercantile men
taking exception to several of its provisions.. The
subject of the spirit duties was very forcibly
touched upon, it will be observed, by one of the
speakers more particularly, to whose unanswer-
able arguments against the sacrifice of revenue
that is proposed by the contemplated reduction
of the duty on French brandy, we shall take an
early opportunity of. adverting. The whole
question of the Chancellor of the Exchequer's
financial statement, however, is to be further
discussed at an adjourned meeting of the Chamber,
the proceedings of which, of course, will be duly
reported.

THElBudget, of course, continues to be the great
question of the day. Not only is it a primary
topic of interest with the mercantile community
throughout the country, but in political circles
also it is the great subject of conversation. In
either respect—whether as regards its csmmercial
or its political importance—it certainly involves
considerations Of the highest moment to our
national interests. In a mere party point of
view, it has a very deep interest, since upon its
fate must depend the.tenure of office of the pre-
sent Administration. But let us hope that no
mere party consideration will influence the Con-
servatives, at any rate, in their treatment of the
subject. It must not be forgotten, that the
country has entered upon a course of progress,
in the way of which it can never conduce to the
general welfare to.throw obstacles for any party
purpose. The question at issue, whether we
consider it in its political or, its financial bearings,
is one lvhich must be judged of, and settled on
its own merits entirely. Whatever opportunity,
therefore; may be thought to be presented of
tripping up the present Ministry upon this their
Budget, let not the Conservatives think for a
moment of condescending to take advantage of
it. Let them not take a leaf out of the book of
the Liberal party on such an occasion as this.
We know very, well what they would do, did a
Conservative Administration bring forward pro-
positions of so questionable a character, to say
the least of it,. as many of those now submitted
to the House of Commons by the CHANCELLOR of
the EXCHEQUER undoubtedly are. But it' were
high time that a game so detrimental to the
interests of the country were given up; and we
feel well assured, that the Conservatives will set
an example in this respect, which, whatever may
be the issue as regards their own political posi-
tion, will satisfy the country that they have no
object in view but the promotion of its prosperity
and progress.

Now, in a financial point of view, one great ob-
jection to the Budget is, that it hazards too
much ; while another objection is, that, as respects
its influence upon the commerce of the country,
in so far as the French treaty is concerned, the
benefit will be slow, if not also uncertain,—too
slow, and too uncertain, it is to be feared, to sti-
mulate the industry and enterprise of the coun-
try to any sensible extent for some time to come.
As the Economist has well observed, " our first
impression is that the plan is of too ambitious a
character, attempts too much in too short a time,
and is not so acceptable to us as a less daring pro-
posal would have been." With this opinion we
entirely concur. It is a plan founded, doubtless,
in the main, upon right commercial and financial
principles ; but it is too ambitious,---it "attempts

Z uesday, February 14, 1 WO.

too much in too short a time "—and, for this very
reason, it is not improbable, that the beneficial
object it must be admittvd to have in view 1113)-
be endangered, if not defeated.

There is another. Objection,.and one of a mere
popular kind, perhaps, than any: other, although
not altogether so insuperable, it maybe, amour
the commercial classes, who will be more directil
benefitted by the operation of such a plan. Th3t
objection is, that in order to carry it out, it is
necessary to have recourse to the continuance?
and even the increase, of so odious an impost
as that of the Income-tax : an Income-taicf tp°'
not confined to those whose means are so ample
as to enable them to bear such • a burden
without any great inconvenience, but to extend
it to so many who, from their limited incomes*
ought not to be subjected to any such grievous
-impost. It is a tax, let it be remembered'
from which there is no escape. French wines'
and Lyons silks, and Parisian nick-nacks, persona
of limited incomes can well do without ; and? if
economical, they would doubtless refrain from
their use. But an Income-tax they cannot avid'
Whatever may be the pressure, from sickness►
from losses, from temporary want of employmelitt
or from whatever cause, it is a payment that
must be made, and that cannot even be put off.
These are considerations,. in addition
to the
odiousness of such a tax, from its inquisitorial
character, which must of necessity make it most
grievous to those classes of the people whose
means are not such as to enable them to bear a
burden of taxation so
_oppressive and so absolute.

THE LATEST NE Wib-I._

{BY BRITISH AND MAGNETIC

R A NCE.

PARIS, Feb. 13.
'The Gazette de France has received a sec°a
warning for an article signed by its editor'
Lourdeaux. The motives of the g state
that the author 'of the article, in disfiguring
the history of France, calumniates the great et
by which Napoleon I. re-established Catholic
worship in France.
It is stated that the news published by 3
gian paper that. an official reply of Austria t° the
English proposal for a settlement of the Italian'
question had arrived in Paris, is false.

The Grand Duke Ferdinand of Tuscany' ba°
arrived at Paris, where the Dictator Parini
likewise.

The Paris correspondent of the Globe says 06
new treaty is popular in the Faubourg St• An,
tome, as the working classes of that quarter ni'V,
cipate a large development of their trade.

TRADE WITH FRANCE, AND SHIPPO

INTERESTS.
The Shipping Gazette strongly opposes
third clause of the French treaty, which Pail:
tees different, duties in favour of French shiPPin:r
and urges on the shipping interests the ire;
ance of uniting in an appeal to Government an o
to Parliament, setting forth their claims t° 00
admission into the indirect trade of France
reciprocal.terms. The value of this trade is neared
ly
£4,000,000, nearly the whole of which is caP.
in French bottoms.

THE FRENCH FUNDS.
PARIS, Feb. /31;ut
12.15 r. M.—Rentes opened at 67f. 7ic'' 6+- f,
have since shown leis firmness, and are now
60c.
„ veri
3.15 P.M.—The market has again been s
dull, the final quOtations of Rentes was 67f' lo
or 8 better than on Saturday.

The political aspects of the qaestion, as regards.
France more particularly, likewise su;gcst
objections, any ought at least to counsel caution
is
carrying into operation a scheme of such a nature:
If it is to be considered as part of a project ei
political alliance with the French empire, or
•
thing that it may commit us to with one vr,..°'o
ultimate objects are so pregnant with suspicion'
as those of Louis NApoLEoN's must be admitted
to be, ought certainly to be well weighed befell;
its consummation is determined upon. For, 851
we have said before, of whatever impQrtarlee
may be to maintain relations of amity and Pul
will with the French empire,—and we free/
acknowledge that it is most important indeed' _
yet, all the circumstances of the case consider
d'
is of the utmost moment to be upon our g°
and not run the risk of involving ourselves
any connection with the present ruler of th„,
empire, from which we may not be able to sin
draw, at
.any time, without difficulty and witil°llll,
risk. These are points to which we hope $/10
trust that the Conservative party in Parlialne
if
will direct their most anxious attention ; and
r
their influence be only sufficient to exercise a °lie,
trol in the carrying out of such a scheme,
country will, no doubt, be saved from evils
which it might otherwise be only too liable t°f°"R.
_,,