Northern Times.
Liverpool, Merseyside, England, 1857-12-19 00:00:00

DAY'S NEWS•

There is an extraordinary improvement in the
position of the Bank of England. The bullion this
week has increased £1,381,362, and now amounts
to nearly nine and a half millions. The reserve of
notes an I coin exceeds six and a half millions, and
Las increased £1,880,570.
General Sir Henry Havelock was gszetted last
night to the Coloneley of the 3rd Buffs.
A seperate report has been issued, signed by the
night Hon. E. Ellice, General Wynyward, and
General Buckley, who differed from the other
members of the Army Purchase Commission.
These gentlemen do not concur in the opinion that
the rank of Lieutenant-Colonel should be tilled by
selection.
The report of an Indian Reform meeting, just
held in Lo 'don, will be found in another portion
of to-day's impression. The chair was taken by
Viscount Bury, the member for Norwich, and the
resolution iu support of India Reform-was moved,•
by Mr Roebuck, M.P., seconded by Mr. Otway, and
supported by Mr. Mead. So far for the primary
purpose of the 'meeting ; but two other motions
followed--one a direct amendment upon the resolu-
tion, moved by Mr. Collett, for the virtual im-
peachment of such men as Lords Canning and
Palmerston ; the other an addendum to the resolu-
tion, affirming the necessity for Parliamentary
Reform in its largest sense as the only means of
obtaining good government for India. The
amendment was fairly put to the audience, and
was fairly lost, but the _addendum. moved by a
working man, and seconded by Mr. J. I. Lockhart,
was carried by a large majority. Then followed
a motion for a petition to Parliament, specifying
the different points of India reform asked for by
the India reformers. This petition was unani-
mously adopted.
We find it stated in aeMetropolitan cotem-
porary, that a memorial has been transmitted to
Lord Palmerston, praying him in his coming
Reform Bill to make provision for granting the
suffrage to certain classes of the community,
wbo may be in a fit state to receive it, by virtue of
their educational requirements. The memorial is
signed by a very large number of noblemen and
gentlemen connected with arts, science, and
Eterature.

Two meetings have been held in the provinces
sn the Reform Movement, one at Preston, and the
other at Rochdale
Davidson and Gordon, the fraudulent merchants
and distillers, who narrowly escaped a sentence of
Long penal servitude, and who were imprisoned for
a misdemeanour, have bee❑ sot at liberty, having
served their term of punishment.
A very peculiar strike occurred a few days since
st Drogheda. A committee was formed to relieve
the distress of that town, and about 350 men were
employed at one shilling per day, in various ways.
As, however, the funds were limited, and the
Claimants increased, the committee reduced the
*Dewar-Ica to tenpence per day, in order that a '
larger number might be relieved. Against this
arrangement the first party struck, and have not
since returned to work.

.A meeting of the Crystal Palace Directors has
seen held, at which a resolution was passed,
ci aring that it is of the utmost importance that
the balance of- the amount of debenture stock,
!authorised by the resolutions of the --moeting of
Yuly the 30th, should be subscribed. Another
resolution was ako submitted, empowering the
Directors to agree with any proprietor for the
conversion of his shares into tielcets of admission
to the Palace and grounds. This resolution also
muthorised the Board of Directors to issue gratu-
itons tickets of admission on Sundays.
The trial of Jonathan Rootto for attempting to
murder Jane Stone, has come to a conclusion.
Jane Stone was a servant in the family of one
Ir.
Michelmore, uncle of the prisoner. The
prisoner lived with the latter gentleman. After

Mme time, familiarities occurred between the

prisoner and Jjne Stone, the result of which
-was, that the latter found herself encentie. She

trald Roose of it, and ho seemed much put
out of the way, and wished the girl to put the
paternity on 1113 uncle. This she would not do.
Some time after he induced her to walk in the

garden, and there, it appears, some dispute
occurred, and 11.-.? sot upon her and beat her in the
2nost fearful manner, disfiguring her for life, and 6110
is not yet out of danger. Justice Wales eentene3d
biro to penal servitude for life.

Fanny Speed, the young woman charged with
tire murder of her husband at Pontefract, through
administering poison, has been acquitted by a
Yorkshire Jury.
The woman Fanny Harris, convicted of the
murder of her illegitimate child, and who was
sentenced to death at the last Winchester Assizes,
Sri/1 not be executed. Her sentence has been corn-

ranted to penal servitude for life. It is now ten
years since the last execution of a woman for this

offence took place. Would it not be wiser, says a
London paper, at once to abolish the capital penalty
le this extent, instead of going through the solemn
mockery of passing a sentence which is surd to
be set aside as soon as delivered ?
A rather curious presentation has just been made

in Limerick. The tnayor of that city has been
presented with a silver cradle, to commemorate
the birth of a son and heir during his year of office ;
and what, think our readers, was the cradle ? It
was " in the shape of a highly wrought and elabo-
rately chased silver kettle, mounted on a silver
stand, famished with a spirit lamp of the same
o )stly material.
The Rev. Hugh Hanna, so notorious for his
street preaching in Belfast, and thereby causing
very serious riots in that town, has been presented
with a gold watch and chain, and a purse contain-
ing one hundred sovereigns. A. monstre soiree
was held on the occasion of the presentation.
The effect of the strike of the colliers in Wales
is, that for the week ending the 6th instant, the
traffic returns of the Vale of Neath Railway wa
only ..C./06 against £1,260, corresponding week last
year. _ _

- Our advices from the Continent this morning
are not of much ssonaent. The celebration of
King Leopold's birthday, in Brussels, wont off
with groat pomp. M. Verhaghen, a distinguished
Liberal, has been elected President of the Legisla-
ture. A moderate course of action is expected
from the victorious Liberals, and the nearly equal
division of parties—if the number of voters on
each side be taken into consideration—seema to
recommend this course.

Accounts from Frankfort describe the German
Federal Diet as engaged in nothing but military
affairs. It- may be accidental, but the fact has not
escaped attention in various quarters.
A Hungarian journal, usually very well informed
on Eastern affairs—the Lloyd of Peath—asserts
that the Circassian chiefs have drawn up a
paper setting forth their wishes and grievances,
which they intend to address to the European
Powers: They elaim the opening of their ports,
and, in general, desire to be recognised as a
civilised community. The document is said to
have been drawn up at Adrianople, in Turkey.
How far this is connected with the Austrian pro-
test against the blockade of these ports time will
show.

The Bank of France has reduced its rate of
discount to six per cent. for bills of all dates.
The Paris journals publish a telegram from
Bucharest, dated the 15th inst., which does not well
accord with the anncuncements in the Belgian
and German press. According to this telegram
it was only on the date mentioned that the
Divan resolved to postpone all discussion of
questions of interior administration until the
fate of the four cardinal propositions shall have
been decided in Paris. The Divan was, therefore,
sitting at the time we were told by the Austrian
organs, and Constantinople letters, that its proro-
gation had taken place. The confirmation of the
Paris despatoh must, however, be waited for.
Nothing yet is to be seen of the innch talked of
prorogation or dissolution by the Porte.
Lord Stratford de Radcliffe arrived at Trieste on
Friday, and M. de Lesseps, at Constantinople, on
this day week.

Full particulars of the news, per West India
Mail, will be. found in another column.

THE Financial Reformers now tacitly admit
that, taxation and currency are inseparable
elements of finance. This admission brings a
vast organisation, and a large amount of Par-
liamentary and general influence to bear on the
subject of Commercial panics, and the multi-
plication of the money burdens of the State, by
means of usury. Denuding taxation of all its
oppressive ramifications, and merely stating that
the gross revenue of the year is so much, the
sums misapplied so much, and the balance so
many millions, can never produce the popular
interest and earnestness, which is required to
carry a Reform of our Financial system. The
simple operations of collecting and disbursing
the public revenue, are matters of very trifling
import. The question of amount, is as
nothing compared to the queries of what is tax-
ation composed ? in what commodity is it
paid ? and what is the price of that commodity ?
We should think but very little of a tradesman
who went on ordering goods, and selling them
at any price his customers chose to offer, and
sending them out without looking at the manu-
facturers invoice to see their quality, the price
fixed upon them, and the dates at which they
were to be paid for. And yet this is the course
our well meaning and honest political-hearted
Financial Reformers have been pursuing hitherto.
They have probed and exposed the rottenness of
our whole financial administration. Plain truths,
however painful, have found them fearless
chroniclers. Regardless of the influences of place
and power, they bring to light all misapplication
of the public's money.

These laudable objects have been followed up
with exemplary determination and purity from
the first moment of the Liverpool Financial
Reform Association's existence down to the
present hour. But all this time they have failed,
until very recently, to discover that the political

recklessness of which they complained, was per-
fectly eclipsed by the legislative character and
quality of our taxation money. They overlooked
the fact that that money was composed of gold ;
that this metal had an unnaturally low price fixed
upon it by those who enforce the payment of

taxes, and that for the use of this tax-paying
money, usury is suffered to be demanded, and
that the lowest rate of interest at which it has
yet been offered was so much added to the total

of revenue for that year. That such an oversight
as this should have occurred among a number of

minds given to the study of finance is very re-
markable. So it is, however. But now that
the mist which enveloped this phase of the

planet they have selected for their contemplation

we may expect very beneficial results from the

attention they propose giving to the subject. All
national discussions require refreshing now and
again, in order to render them attractive and
palatable; and we will promise our Financial
Reform friends that, they will rarely find a
moment so favourable as the present for infusing
new life into their movement. The domestic
producer wants to be told the effect that the low

price fixed for the metal of which our money is

composed has on prices, and the additions which
the depreciation of all commodities, and ten

per ce,nt. usury, make to taxation.

mporting merchant, ship-owner, mine-owner,

land-owner, farmer, railway and general share-
holder, shopkeeper, and working man, want to
be shown the losses they sustain, collectively
and individually, by currency and taxation, as
they are known to act and re-act one upon the
other until the total of taxation for a year,

which is nominally fixed at 70,000,0001,, may
in reality, be augmented 30 or 50 per cent.

A large majority of the public must believe
that such an intolerable addition to our fiscal
burdens, cannot possibly take place. If this was
not the case, our present currency scheme would
not be tolerated for one month longer. But if
there be any truth in our assertions, it is ob-
viously the bounden duty of the Financial
Reform Association to take up the question of
Currency and Taxation, and set the popular
mind right without further parley or delay.
They have already petitioned Parliament for an
inquiry into the subject of Banking and Cur-
rency. In this investigation, the bearing those
questions have on taxation will never once be
whispered. The Financial Reformers even have
not asked it, and it is rather too much to expect
that a committee of that branch of the Legislature,
who are the especial guardians of usury, and
who can never get up a respectable division i❑
Financial questions, will moot so delicate a
matter. No ! It remains for the Financial
Reform Association to take the initiative on this
particular branch of the monetary pressures,
which so repeatedly afflict commerce, and
increase the intensity of the pressure of taxation.
We would therefore suggest the propriety of the
Council of the Liverpool Reform Association
instituting all inquiry, by a committee of its
members, or in some other form, into that portion
of the practical working of our fiscal and
monetary systems, which a committee of the
House of Commons will not deign to touch. A
report from the Association on this all-important
topic, would be exceedingly valuable to the
public, and it cannot, in the name of consistency,
be refused.

Ths researches of the Commons' Committee
will be confined to the causes of the existing
commercial distress, or to account for the fact
that,when Styles got into the Gazette, Stakes was
obliged to follow him. The circumstances which
Jed to this wonderful phenomenon in 1357 will
be disclosed sometime in the latter days of 1858,
and the volume in which they will be compiled,
will take an expert student in blue-book
philosophy about twelve months to get a glimpse
of the facts on which the Committee bases its
conclusions. By this time the usurers will have
made their markets. Joicas LOYD aid Co.'s
London pig will have become fine fat bacon in
the hands of JONES LOYD and Co., of Manches-
ter. Formerly it used to be, particularly in the
old Palm's time, "pie upon pork;" but' in these
days the taste runs in favour of bacon, owing to
the increased facilities the Bank Act of 1844
affords to those who are engaged in the curing
process. It is hoped, however, that the Financial
Reformers will be true to the trust reposed in
them, and that they will, by the publication of one
of their usually able reports, forestall the rubbish
with which the Parliamentary Committee's forth-
coming blue-book will be filled. The country
wants some practical advice on the financial
operation of our money-laws, and for this they
must look to those whom they have so long and
liberally subsidised to guard their fiscal interests.