Northern Times.
Liverpool, Merseyside, England, 1860-02-13 00:00:00

MAIL NEWS.

The Tamar, Captain Reeks, will leave South-
ampton, on Friday next, with the mails for the
West Indies, Mexico, and Pacific. She will re-
main out on intereolonial service, and the Parana
Will be despatched shortly after to bring home the
return mails. •

The Fulton, Captain Wotton, is due off Cowes
on Thursday next, with dates from New York
to the 4th instant, and the Parana, Captain
Woodward, is due on the 15th, with the next
mail from the West Indies, &c.

QUEENSTOWN, Feb. 12.

The royal mail steamer Europa, Captain Leitch,
arrived her at 11 a.m. ; received mails and pas-
"fiengers, and latest telegraphic despatches at 5
11.1 n. and proceeded for Boston and Halifax at
1 30 p.m.

LONDON, Feb. 11.

All the evening papers state that the Budget
has been very favourably received in the City.
The Chancellor of the Exchequer left town this
afternoon for Stoke, the scat of Lord Taunton.
The official correspondence preceding the ne-
gotiations for the French treaty has been issued
to-day. Her Majesty appointed Lord Cowley
and Mr. Cobden joint plenipotentiaries. One
.?.f the despatches from Lord Cowley to
Lord John Russell compliments Mr. Cobden on
his active exertions •, and both plenipotentiaries
'were honoured by her Majesty's entire approval
of the manner which they brought the negotia-
tions to a successful issue.
The Government had sanctioned the formation
'of Volunteer Corps of Mounted Riflemen : forty
to form a company, and twenty a sub-division.

The following appeared in a portion of our
impression of Saturday :

AUSTRIA.
[RBUTRE'S TELEGRAM.]
VIENNA, Feb. 8.

The former Minister of Commerce, Baron Von Tog-
zenburg, has been appointed Stadtholder of Venetia.
Five priests have been arrested in Venice.
The statutes of the Hungarian Commercial Bank
have received the imperial sanction.
The Vienna correspondent of the Times reports that
Ausfria is about to make another attempt to bring
about a coalition between Russia, Prussia, and herself.
Prince Alexander Von Hesse is going to St. Peters-
burg on a special mission to the Emperor Alexander.

THE WAR IN MOROCCO.
[REUTER'S TELEGRAM.]
TETUAN, Feb. 9.
To-day Marshal O'Donnell made a reconnaissance on
the road to Fez, two miles from Tetuan. General Prim
has also directed a reconnaissance towards another
Point. The debris of the Moroccan army are scattered
- on the different roads leading to Fez and Tangiers.

FRANCE.
[REUTER'S TELEGRAM.]
PARIS, Feb. 11.
The Moniteur announces that in future the publica-
tion or reproduction of false news, even when done
Without bad faith, will be punished by the tribunals.

SPAIN.
[REUTER'S TELEGRAM.]
9
ADRID Fb. .
Several French vessels have been e
in wrecked the
waters of Valencia. The crews were saved.

FRACE.
The Paris correspondent oNf
the Times says, that or-
ders were given on Thursday Morning to the Paris
Rapers not to allude any more to the annexation of
oavoy to France ; but in the afternoon counter orders
'Were given, and the papers were instructed to write it
uP as before.
Orders were sent from Paris by telegraph to the
Prefects and sub-prefects in all the departments, to in-
terdict the
,publication of the last letter of the Bishop
of Orleans as very bad effects on the public mind were
auticipated.

TIM COMMERCIAL TREATY AND THE

--
BUDGET.
The Times, in an article on the treaty, says it is
rather hard to be told at the same time when we are
,21ted to spend a million and odd in peace-offerings,
that we are to continue to pay just as many millions as
ever for warlike preparations. Against whom are all
those screw-liners and screw-frigates, and swarming
guz-boats built ? For whose special benefit that
le are building great factories and turning out
rmstrong guns with as much velocity as our
Feat-grandfathers made tenpenny nails ? There can
no possible use in eluding manifest truth.
4,11 this is directed against the danger we apprehend
I°ln France. Who else is there that we should fear ?
h. present we are at the same moment buying friend-
p, and and paying the cost of enduring all the costly
:pills of enmity. The Times, therefore, asks, whether
,otning can be done to stay the terrible waste of money
"Ton deadly weap ns.
The Times asks if there are tidings of a mutual disar-
Thament behind this commercial treaty. This very year
ije shall perhaps spend £30,000,000 for naval and mili-
tary Purposes, and for national defences. This tremen-
dous amount is the price of suspicion. We are, how-
:ver, going to work, and not to fight, with France. Yet,
c.,"°l° We are paying upwards of a million to our friend
get him to shake hands with us, and spending
V 0,000,000 in preparations against the possibility of
Is knocking us down. This cannot be helped so long
as the armaments of France are upon her present
ale. The disarmainent must be simultaneous, if
it be to take place, and it is by no means easy to
Point out a satisfactory mode of effecting it. The
Times approves generally of the budget and treaty.

If there had been no treaty at all. we must, as
free-traders, have one next year or the year after, just
what has been done now under the treaty, and the
longer we delayed doing it the greater would have been
our own loss.
The Herald observes, that Mr. Gladstone,"last, night,
seemed almost to revel in the difficulties of his position,
but it cannot congratulate him on his budget. Above
two million pounds of annuities have fallen, and where
are they ? Goneswallowed up by the commercial
treaty; gone in French wines, and in Lyons silks, and in
Parisian knicknacks. They might have been applied to
reduce the war duty on tea and sugar, or to meet the
additional two millions required for our national de-
fences. But that would have been a very vulgar mode
of meeting expenditure. The only channel that Mr.
Gladstone could devise for the proper dispersement of
this godsend is the commercial treaty with France, and
into this channel he flings the whole of the amount.
The Star says the budget completely justifies its con-
fident expectations. The grand characteristic is the
remission of the four millions of indirect taxation, by the
abolition or reduction of customs or excise duties on
nearly 400 articles. All the more agreeable provisions
of the budget will, of necessity, be permanent, while its
obnoxious requirements may terminate with the ensuing
year, in the power of Parliament to remove the 10
millions of taxation now to be imposed by retrenching
expenditure.
The Daily Hews says, we have got back to the days
of grand financial statements and comprehensive bud-
gets. Since the career of Sir R. Peel's legislation came
to a stop, we have been living on the capital of a policy
which has carried us safe throughout European revolu-
tions and a Russian war. • Last night the political heir
of Sir Robert Peel may be said to have entered upon an
inheritance, which, in spite of careless guardians, is still
the finest fortune in the world. In defendincr
)) his bud-
get from the charge of relieving the luxury .t' the rich
at the cost of the comforts of the poor, Mr. Gladstone
declares that beneficent legislation consists not in taking
a penny or twopence off tea and sugar, bul rather in
striking the fetters from industry and expanding the
field of labour. This memorable budget is in a word a
budget of principles not of expedients, decisive as an
onward movement, but sound in its calculations and
safe in its results.

All the journals extol Mr. Gladstone's speech. The
Herald says, no livino. Englishman could have put so
imposing a front on what it terms a hopeless project.
The Post says that Mr. Gladstone may be safely con-
gratulated upon the success which attended his efforts
of last night.
The Chronicle scarcely apprehends that even Mr.
Disraeli's ingenuity will discover a point on which to
fasten any serious objection, or contrive a pretext for
party antagonism in the House of Commons.
The Daily Weirs says it will be difficult even for Mr.
Gladstone to surpass his latest achievement as a states-
man and an orator. It was a speech characteristically
English, not more English in the pure and idiomatic
form than in the frankness, the thoroughness, and the
solidity of the substance. It was not the speech of a
hooky theorist, a fanciful pedant, or a formalist bureau-
crat. It is a budget of principles, not of expedients ;
bold without rashness ; tentative, yet not phantastic ;
confident, yet cautious; decisive as an onward move-
ment, but sound in its calculations, and safe in its
results.

The Peers gallery was so crammed that Lord Derby
himself was obliged to stand during the delivery of the
speech.
The speech of the Chancellor of the Exchequer occu-
pies thirteen columns.

The outgoing steamer Pera, with the Bombay mails,
will take £273,000 to the East.
The treaty of commerce between England and France
is published. It contains twenty-one articles, and is
signed-by Lord Cowley, Mr. Cobden, and the French
ministers, Baroche and Rouher.
A deputation from the linen bleachers and merchants
of Ulster had an interview with the President of
the Board of Trade, yesterday, to urge on the Govern-
ment the propriety of having the duties on British
linens assimilated at once to those of Belgium imported
into France, and ultimately to establish, 'instead, a
fixed ad valorem duty of 10 per cent.