The Sun.
London, England, 1864-05-13 00:00:00

Garil

,nd,

The Memorial Diplomatique contains the follows
ing notice rd Garibaldi's speeches in England :
At London the Conference commences its labours,
Garibaldi takes leave of his entertainers, All this is
as it should be. We will not now revert to the
conduct of the too famous Italian agitator. But,
whatever may have been the object of his journey,
whatever may be its future results, one great and
serious truth has been added to history, it is this
—that Southern Italy is indebted to Engand for
the bloody anarchy which has laid her waste for
the last four years. " Represented by Lord
Palmerston and Lord Russell," said Gari-
baldi, "the English Government bas done much
for Italy. Without Admiral Mundy I should
not have been able to pass the Straits of
Messina, and Naples would still be in the power of
the Bourbons." How sad soever such avowals may
be, we must acknowledge, we must meditate upon
them. They make the complicity of Englnd plain,
a complicity which hitherto her statesmen have
steadily denied. _ _

The consequences of such complicity are but too
manifest. In destroying the security of Piedmont,
and the tranquillity of Italy, England has compro-
mised at one blow the political position of Europe.
The Peace of Villafranea being rendered ineffectual,
the powers have been violently thrown into a false
position, and the whole of Eastern Europe has ex
perienced an uneasiness, which continues on the
increase.

W hat did Napoleon the Third, a grieved and
anxious witness of the painful necessities of war,
seek for after the victory of Solferino ? He has
told himself. Desirous of preserving Europe from
the outbreak of revolutionary passions, he wished
for a solid peace, a general disarmament. England
alone, paralysing his generous efforts, opposed her.
self to this. By her fault the stipulations of Villa-
franca remained a dead letter, and the Italian Go-
vernment was dragged into the course of culpable
ambitions and foolish hopes, in which it continues
to this day. Then, at a later period, not content
with having provokers the movement and encou-
raged the insurrection, England, by her example
and her importunities, induced Russia and Prussia
to recognise the accomplished facts. Henceforth,
there is no difficulty in understanding the devia-
tions of general politics in Europe during the last
four years.

After this, how can we be astonished when we
now see Prussia attacking, destroying, not indeed
directly, but by her actions, the Treaty of London,
whose application she strives to render impossible ?
She does no more than follow the lessons she has
received. And from whence have they been given ?
Who has impelled her to dismember piecemeal at
the Kingdom of Denmark ? Is it France—always
accused of secret designs, and to whom all revolu-
tions are gladly imputed ? No; we must say that
it is those powers who are reputed to be the most
Conservative on whom rests the present responsi-
bility of the disturbance and uneasiness which perk
vades Europe.

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.
Lower rates now prevail in the general discount
market. The simultaneous appearance this morn-
ing of two favourable returns from the Banks of
England and France have produced a feeling of
satisfaction for the present and of hope for the
future, More money is also known to be in the
possession of the bankers and bill brokers, and as
there is less enquiry for accommodation, cornpeti-
tion has caused the quotations to descend to 81
per cent. for first class bills,
About £63,000 in gold was taken into the Bank
yesterday.
The steamer La Plata has been announced from
the West Indies with £220,000.
The directors of the Bank of Wales (Limited)
have concluded arrangements for the transfer of the
old-sstablished private banking business of Messrs.
Lock, Hula, and Co., of Pembroke and Tenby.
Mr. Joseph Canham, M.D., St. Lawrence, Rams-
gate (late Burgess, Canham, and Co., bankers), one
of the partners of the Ramsgate Bank, recently
merged into the South-Eastern Banking Company,
has joined the bosrd of the latter establishment.
Mr William James Watson, of Messrs. Haggard
and Co., has joined the Board of the Scottish and
Universal Finance Bank.
During the last few days there has been a mo-
derate amount of business transacted in the Foreign
and Colonial Produce Markets. Sugars have betn
in rather active request at full rates, while there
has been a better demand for coffee, superior de.
seriptions of colonial having realised enhanced
prices. In rice, fruit, and spices there has been
about an average business, while the tallow market
has continued very dull, and quotations have shown
less firmness.
The Bank of England return for the week to
Wednesday last shows some important changes.
The other securities have been increased through
the high rate for money charged in the open mar-
ket, but the bullion and reserve of notes have like-
wise received some large additions. Subjoined is
our usual analysis :
Active Circulation .. n 0,958,
Decrease . • .. 525,85
4000
Bullion
•12,705,257
Increase ..
,007
Increase
Rest • • 251
..
.. 3,264820
Public Deposits 4,5,976
Increase .. • • • . • •
.. 7,318,362389
.•
Other Deposits.. • .. 12,90,362
1,160
Increase .. • • .. •
622,257
Seven Day and other Bills 520137
,
Decrease .. •• •• •• 41,405
Government Securities
•• • 10,785,267
Decrease ..
.. 287,000
Other Securities .. .. 21,356,943
Increase 455,783
Notes Unemployed .. 5,749,710
Increase
.. 805,530
The return issued by the Bank •
of France also
presents some important and favourable changes.
The bullion has received an addition of £940,000,
the Treasury balances of £268,400 ; the current
accounts of £1,790,000, the discounts of £1,590,000,
and the notes in circulation of £300,000, A decrease
of £253,300 is shown in the advance on stock.

Two O'CLOCK.
At Paris this morning, according to Reuter's
telegram, the Three per Cent. Rentes were 66f. 67;
—Firm.

The market for the English Funds presents a
very animated appearance. No fresh political con.
troversies arising, and the reassuring facts shown
in the Bank returns of England and France, have
produced a salutary effect. Consols are 3-16th
better than yesterday, the quotations being 911 t
for money, and 901 47 less the dividend, for the
account. The New Threes and Reduced Annuities
are 88/ 89 ; the .5 per Cents., 1873, 107/ ; Much
Exchequer Bills, 108. die. ; and June do. 4s. dis.;
and India 5 per Cents. 105; Bank Stock is 237,
239, and 217, 2181.
The Foreign Market opened With a very flat ap-
pearance, but more business has since been per-
ceptible. Turkish 6 per Cents., 1862, are 701 711;
do. Consolid6i, 471 ti ex div.; Greek, 22-i I; Mexi-
can, 444 1 ; do. New Loan, 1 dis. ; Spanish Pas-
[sive, 341 ; Portuguese, 471 484 ; Russian Scrip,
11 1. prem. ; Swedish, 2- 11 prem. ; and the Con-
federate Loan, 64 66.

In the Railway Share Market the operations
have not been very extensive, the dealers and
speculators being chiefly engaged with the settle-
ment. Prices, however, show rather more firmness.
Lancashire and Yorkshire and North Western have
each improved ss. ; Caledonian and Great West-
ern 10s., and North Stafford £l, while Great North-
ern A Stock has advanced 55., and Manchester,
Sheffield, and London, 10.
The Foreign and Colonial undertakings show
little variation of importance.
Bank and Miscellaneous Shares generally are at
steady prices, with the exception of Bank of Lon-
don, which have declined to 175, and Oriental
Bank to 654. International Financial are steady
at 111, and Royal Mail Steam at 84 5.
The following are the current quotations of some
of the principal new projects :—"Scottish Universal