Northern Times.
Liverpool, Merseyside, England, 1859-04-11 00:00:00

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THE NORTHERN TIMES, MONDAY, APRIL 11 1859

THE NAVIES OF ENGLAND AND FRANCE,

By a Cabinet minute, dated the Ist of December last, a
confidential committee was appointed to institute a strict
examination into the comparative naval expenditure of the
years 1852-53-54, and of the present year, with the view of
placing fully before the Cabinet all the causes of the past
increase, as well as those causes which appeared to threaten
a further increase for the future. The committee were also
to undertake the difficult task of tracing the progress of the
since the year 1852, as compared with that

avy of Frar

tion of the- Trench navy as regards decks and works, includ-

inn the construction and armament of ships of war. For

Niajestf-s Government was afforded "in strict confidence

The committee consisted of
Mr. Hamilton, then Secretary to the Treasury; Mr. Corry,

by the Earl of Afalmesbars

then end now Secretary to the Admiralty

Sir Richard

l3rondey, K.C.8., Accountant-general of the Navy; and Mr,
Anderson, chief clerk of the treasury. Their report is
issued.

in 1852 England possessed an aggregate of 177 steam-
ships and vessels, 3,046 guns, and 45,064 horse-power ;
in 1858, England possessed, inclusive of 62 troop ships,
store-ships, yachts, teaders, despatch vessels, &c., an
_ _

aggregate of 464 steam-ships and vessels, 8,246 guns,
:105,962 horse-poyfer, and 457,881 tonnage. The stores in
stock are reported to be in a satisfactory state ; but the
stock is not more than adequate according to the existing
expenditure.
From a variety of tabular compilations, it appears that
France, since 1852, has increased her steam line-of-battle
ships from 2 to 40, .of which there are 5 building and 4
converting, and that this has been effected by the conver-
sion of 26 sailing-ships, and the building 14 screw-ships.
England, in the same time, has increased her line-of-battle-
screw-steamers from 17 to 50, of which there are 10 building
and 7 converting. This has been effected by the conversion
of 27 sailing-ships, and the building of 23 as screw-
ships. The addition, therefore, to the French navy, in
' steam line-of-battle ships, complete, building, and col-
verting, is 38, and of Englund 33, since 1852. France has
ai, present, 4 iron-sided ships (" fregates blindees") in
screw and paddle, have been increased from 21 to 46, and
England has increased her steam-frigates, screw and paddle,
from 22 to 34, and her block-ships of 60 guns each from 4
to 9. "It is necessary," observe the committee, " that we
should notice this supepiority in steam-frigates on the part
of France over Great Britain, which, in the event of hos-
tilities, might form a serious detriment to this country,
especially in relation to the interruption of commerce."
On the other hand, the French steam-corvettes and sloops,
which in 1852 were 31, are now only 22 ; while those of Gre'at
Britain, which in 1852 were 59, are now, including 7
vessels since reduced from frigates to sloops, 82 ; our
screw floating batteries are 8, as against 5 rench ; our
screw gun vessels and other small vessels are 53, whereas the
French have 93, our screw gunboats are 162, and those of
France.2B ; and the whole steam navy of Great Britain now
amounts to 464 vessels, while that of France numbers 264.
As regards sailing vessels, England still possesses a great

superiority over France. England has 35 line-of-battle
ships, of which 6 are proposed to he converted into steam-
ships ; of the remaining 29, only 13 are considered by
the surveyor of the navy effective as sailing-ships ; and,
in his opinion, if it should be deemed expedient to convert
any of them, they are convertible only into frigates;
France has 10, of which only two are convertible ; England
has 70 frigates (of which 27 only are reported by the
surveyor as effective sailing ships.) France has 32, of
which it is said that nine or ten will be converted into
steam-transports, the remainder being too old for con-
version ; there are in both countries several other vessels
which, being too small for conversion, it is not necessary to
notice. The total number in the two sailing navies is,
England, 296 ; France, 144.

MONETARY AND COMMERCIAL.
LIVERPOOL, Saturday Evening.

The Cotton market has been moderately active to-
day, the sales amounting to 7,000 bales, and include
only 1,000 taken for speculation and export. Prices
have been steady and firm. _ _

The Liverpool Share Market has been rather more
active, but prices have been considerably lower, con-
sequent upon the very threatening character of the
news from the Continent, and the panic which pre-
vailed in London. The transactions were—Caledo-
nian, 80; Eastern Counties, 111, 11 11-16,118; Great
Western, 57 ; Lancashire and Yorkshire, 931, 931,
93, 921,-, 93 ; London and North-Western, 931, 937;,
931 •, Manchester, Sheffield, and Lincolnshire, 38 ;
Midland, 1007, 1001, 100, 991, 991, ; North Stafford-
shire, 41d; South Eastern, 201, 2013-16, 201 201 ;
Lombardo-Venetian, 5-16 p. _

Messrs. T. and 11. Littledale have to-dav issued
their usual monthly circular, and we quote from it
as follows

Seldom have we known the first quarter of the year pass
over so quietly in business as the past has done—seldom
have the profits been so unequally divided between the
manufacturer and the importer—for seldom have there
been three months of greater profits to the one, so far as our
chief staple is concerned, or a more complete absence of
profit to the latter, not in one article alone, but in nearly all
descriptions of imports. With the exception of cotton, in
which there is always more or less buying for re-sale,
without reference to its being cheap or dear, there has
been an almost total absence of speculation, and prices of
most articles of colonial. produce—sugar, indigo, silk, jute,
linseed and rapeseed, saltpetre, and rice, have declined more

or less in value, simply from the want of animation in the
markets, and not from diminished consumption. The want
of confidence in political affairs on the Continent has tended
greatly to produce the dulness complained of, and this is
now to be added to by a dissolution of Parliament at home.,
which will draw off attention from business for the next
month or two. There is nothing particularly striking in
the position of any article, stocks generally are extremely
moderate in proportion to the rate of consumption, and
prices equally so. The trade of the country is in a very
healthy state, and the business of the year will no doubt be large.
Owing to the derangement in the finances of the Indian
government, and the sudden rise in the exchanges of Cal-
cutta and Bombay in consequence, an extensive demand has
sprung up for silver to send out to those ports, both by the
government and merchants, and the shipments by the last
two steamers have amounted to the enormous sum of
£1,614,723. To make these purchases a considerable
amount of bullion has been transmitted to the Continent,
causing a reduction in the hands of the Bank of £970,000,
and a temporary increase in the demand for money. Dis-
counters have not let slip the opportunity of raising their rates
somewhat, and the quotations are Ito per cent. higher
than they were six weeks ago, but still quite moderate, say
21 for choice short paper, 21, to 4 per cent. for two to six
months bills.

In the London Stock Exchapge this morning
there was a complete panic, consequent upon the
publication of alarming telegrams from Vienna and
Turin. The telegrams from Paris of this morning's
date report a fresh decline of only about 1 per cent.
in the French funds, but Consols have fallen I per
cent. and most of the leading English railways, 1- to
1 per cent. French and Lombardo-Venetian railway
shares present likewise a severe fall, and the de-
pression extends to every department of the Stock
Exchange. The sales, however, appear to have been
chiefly speculative. All the markets wear a very
unsettled appearance. The closing prices for English
Securities were--Consols for Money, 94A., 94& ; ditto
Account, 94A-, 942- ; Exchequer Bills, 32, 36 ; Bank
Stock, 221, 224; Three per Cents, 93*, 93k.

In the London Share Market to-day, an extraor-
dinary fall has taken place for British Railway
Stocks. The descriptions ordinarily dealt in exhibit
an almost general reduction of to 1 Per cent.
Berwick has fallen 14 per cent., and Midland, 1
per cent. Present quotations are as follows :
London and North Western Stock, 93, 931 ; Great
Western, 571 571 ; Lancashire and Yorkshire,
924, 93 ; Midland, 99+, 991 ; Caledonian, 391, 391
per share; Berwick, 891, 90; York and North
Midland, 744, 75 ; South Eastern 20 9-16,
20 11-16 per share ; North British, 564, 57 ;
London and South Western, 91, 91*; and
Eastern Counties, 1U to 11% per share. French and
Lombardo-Venetian Railway Shares have likewise
sustained an extraordinary fall. Northern of France
are now quoted 351 to 351; Paris and Lyons, 314 to
32'; Lombardo-Venetian Old, 9 to 4 prem. ; ditto
New, 7-16 to 5-16 dis. Indian, Belgian, Brazilian,
and most other classes of foreign and colonial Rail-
way Shares are also depressed. The Four-and-a-half
per Cent. Debentures of the East Indian Railway
Company have fallen to par to * prem. The final
closing prices were—Ambergate, Nottingham, and
Eastern .Junction, 54, 64--; Caledonians, 794, 791 ;
Eastern Counties, 581, 581 ; East Lancashire,
91, 92 ; Edinburgh and Glasgow, 72, 73 ; Great
Northern, 1001 101 ; Ditto A, 84, 85 ; Great
Westerns, 574; Great Western of Canada, 151 151 ;
Grand Trunk of Canada, 81, 8.1 ; Lancashire and
Yorkshire, 92%, 931; London and North-Western,
931 ; London and South-Western, 911 ; Leeds
Northern, 451, 461; Manchestef, Sheffield, and
Lincolnshire, 371, 381 ; Midland Stock, 991, 100 ;
North British, 56, 57 ; York, Newcastle, and Berwick,
891, 901; York and North Midland, 741, 751.

The movements of the Precious Metals during the
past week have again been extensive. The imports
have amounted to about £964,173, including £35,876
from the United States, by the City of Washington ;
£109,420 from Australia, by the Royal Charter ;
£130,000 by the White Star ; and £166,056 by the
Roxburgh Castle ; £261,663 from Mexico and the
West Indies, by the Parana ; £10,400 from Africa,
by the Athenian ; £16,258 from the Brazils, by the
Tyne ; £4,500 from the Peninsula, by the Ripon ;
and about £230,000 in Silver from the Continent.
The exports have comprised £14,940 to the Brazils
by the Tamar, and shipments to the Continent,
through the London Custom House, estimated at
£4,810, making a total of £19,750, independently
of which a large sum has been forwarded to the
Continent by private hand, the particulars of which
are not usually made public.

The arrival is announced of the Roxburgh Castle,
from Melbourne, with 166,000/, in Gold•.
The Discount Makret yesterday was active, and
the minimum rate for the best bills was 2i per cent.
At the Bank there is still a fair demand, but no
pressure. The payment of the dividends commenced
yesterday.

- The issue of the Indian Loan is expected in two or
or three days.

A failure was announced at the S Lock Exchange
yesterday, in connection with the Consol Account, the
party in question having operated largely for the
rise. It is much to the credit of the general body
of the house, however, that engagements through
the late period of inactivity have been so punctually
kept.

About 17,000/ was withdrawn from the Bank
yesterday; and as, in addition, the 239,500/ by the
Royal Charter and the White Star will be sent
away, it is evident the 'drain abroad has not
diminished. The specie by the American steamer
and the African steamer is also taken. The Silver
Market has become heavy, and the nominal .quota-
tion is 5s 2td, the shipments for the next mail being
nearly completed. The remittances by the Parana
have to be dealt with, but they will go to the
Continent.
The London Colonial Produce Markets have been
generally steady throughout the week, but any per-
manent activity is still prevented by political
influences. The limited supplies of Sugar brought
forward met a good competition, and realised Gd to
9d advance for some descriptions of Manilla and
Bengal ; quotations otherwise remain as before.
Some rather heavy arrivals of Ceylon Coffee
have caused buyers to act with more reserve,
but in what has changed hands full prices
have been paid for all descriptions, except
Mocha, which may be quoted is to 2s lower.
Common congou and black leaf Teas have made
stiffer prices, but transactions have been of moderate
extent only. Rice engaged increased attention in the
early part of the week, and obtained a trifling ad-
vance, whichhas not, however, been fully maintained.
The Saltpetre market has been somewhat irregular,
but floating parcels have found buyers at
a small improvement. In , Spices the passing
business is of quite a retail character. Pearl
Sago was ls. to 2s. per cwt. higher. In
manufacturing products the want of animation is
more decided. Jute has further declined 10s. to 20s.
per cwt., without inducing any revival of demand.
Indigo meets little inquiry. The next quarterly sales
are fixed for the 10th proximo, and are expected to be

FROM FRIDAY NIGHT'S GAZETTE

DIVIDENDS

May 4th N. Bullivant, Altrincham, Cheshire, victualler.
May sth. J. Iligginson (separate estate), Liverpool, mer-
chant. May 9th. J. Scott, Thackley, Yorkshire, cloth
manufacturer. April 29th. J. G Thornton, Richmond,
Yorkshire, watchmaker. April 29th. J. Smith, Morton
Mills, near Bingley, Yorkshire, paper manufacturer.