The Sun.
London, England, 1865-11-10 00:00:00

Speech of the Italian Minister of Finance.

, The Florence I'Tazione of Tuesday has the fol-
'Wing remarks upon the speech recently delivered
at Cossato by Signor Sella, the Italian Minister of
Finance

The Alinister of Finance has given a good
example for our constitutional life, by appearing
among his constituents and explaining to them, in
tughsh fashion, at a banquet, his own views re-
specting the administration to which he belongs,
and the political course of the Cabinet of which he
15 a member. • . . We are rejoiced to find that
the views of Signor Sella upon the Roman ques-
tion are in complete accordance with our own
Programme. With much simplicity and distinct-
ness he has explained the judicious and appro-
priate reasons which induced the Cabinet to reject
.!▪ 11, c Pretensions of the Roman court with regard to
tae abolition of the royal e:requatur; and in speak-
i▪
ng of the Convention of the 15th of September he
has admirably defined its political value, and its
inevitable effects. "We shall fulfil our engagements
with scrupulous loyalty," he said ; " the experiment
°f the temporal power of the Pope depending on its.
• strength will be made without a trace or shadow
of violence on our part." This is the course, neither
111°!'e nor less, which the Italian Government ought
L° Impose upon itself with regard to the Convention
of the 15th September; this is the just and realinter-
Pretation of that treaty. Upon the Venetian question
it /night have been desired that the minister should
i
la." explained his views more clearly ; but his
°facial position sufficiently justifies the reserve he
imposed upon himself on this subject. We are, how-
ever, rejoiced that instead of the discouraging re-
signation, and the timid counsels that we deplore in
other distinguished politicians, we find reasons in
the Words of Signor Sella for believing that the
liberation of Venetia is still the first and most im-
portant object to which the efforts of the Govern-
Irlent point. We have on other occasions declared
that We do not ask from the ministry a promissory
the at a fixed date, that we do not ask it to tell us
'no precise time and manner in which it means to
settle the Venetian question; but we ask it to con-
truck
in all earnestness the accomplishment of the
national programme, and not to discourage the
country by imprudent declarations, or arouse
mistrust in the honest intentions of the Liberal
Party. And Signor Sella satisfies our wishes
1.4 frank and noble words. " The situation
Is a difficult one," he said, " there are not
Wanting in the country representatives of a really
Impossible past." " Behind us is the abyss,"
Said General Lamarmora, amid the applause of the
!louse, " nor could a backward step be even
Imagined without terrible ruin to all and every-
thing. There is thus no other alternative. We
Must go forward and complete the national pro-
gramme." In these words our whole policy is ex-
pressed, and we gratefully welcomethem from Signor
Sella. And we heartily join with him in the homage
all Italians owe to the noblest and most patriotic
.Lof kings. The speech of Signor Sella comes oppor-
tunely to dispel the absurd rumours recently circu-
laied by malice and credulity-, with respect to plans
of abdication, concordats, and the separation of
certain provinces from the rest of the kingdom. It
Will strengthen, we are sure, the moderate party,
and revive that confidence in the destinies of the
country, which grows weak and oscillates when
doubt arises as to the convictions of the men who
stand at the helm of the State.

MONEY MARKET

COMMERCIAL INTELLIGENCE.

TWELVE O'CLOCK.

The Money-market presents an easier appearance
this morning, consequent upon the satisfactory re-
turn from the Bank of England. No disposition,
however, is shown by the brokers to negotiate the
best bills upon lower terms than have lately pre-
prevailed, viz., 6i and 7 per cent.
The sum of £lB,OOO in gold was taken to the
Bank yesterday.
The return issued by the Bank of France shows
the following changes in the position of the estab-
hslunent. The bullion has boon roduood ,£79,000,
but the notes in circulation have been decreased
£580,000. The bills discounted are 1770,000 less ;
the advances on stock, £50,000 ; the Treasury
£316,000
balance, and the current accounts,
£720,000.

The Bank of England returns shows that the
sition of the establishment has been strengthened
during the week. The reserves are larger, and also
„ Government Securities. Annexed is our usual
analysis
40iY• Circulation Of• •••

•,.X21,473,775
••• 373,530
.. 13,306,277
87,474
. 7
.•
•..
8,188
:,703457
ulD„lle Deposits ..• 4,886,861
increase 723,344
...
••• ••• other Deposits ••• ••• •••
Increase 168,996
86Yen Dal and Other Bills ... ••• 13,148,786
622,121
Decrease 15,920
(40.Verninent Securities 9,746,089505:125
Increase •.• ••• ••• •••
Other Securities ••• ••• ... 20,070,914
Decrease 73,664
Hates TT •.• ••• ••• •••
,•neinployed ••• ••• "• •'' 5,745,605
Increase ••• ••• ••• ••• 430:5
The Imperial Ottoman Bank have received ad-
vices from their Bucharest agency of the payment,
ou the Ist November, of the usual monthly remit-
tances of £5,300 on account of interest and £1,400
for the sinking fund of the Danubian Principalities
Loan.
The Master of the Rolls has appointed Mr.
George A. Cape, of Adelaide-place, accountant,
°Melal liquidator to the Land Credit Company of
Ireland (Limited).
It is announced that Mr. Thomas Wilson Ran-
son, of Sunderland, has joined the direction of the
' Tyne General Engineering Company, and that the
lists of application will close on Thursday, 16th
'net., for London, and on Monday, the 21st, for the
country.
The Stock Exchange Committee have appointed
Monday, 13th inst., a special settling day in the
shares of the South of England Wagon Company
(Limited), and the Marseilles Extension Railway
and Land Company (Limited), which are not to be
marked. The committee have also ordered the fol-
lowing securities to be officially quoted :—The
20,000 London register shares of the National
Bank of Australasia and the 6 per cent. £2OO
Bonds, 1881, of the Philadelphia and Erie Railroad
Company.
The share list of the Pennsylvania Lubricating
Oil Lands Company (Limited) will close on Mon-
day, the 13th inst., at 4 o'clock, for London, and
on Tuesday, the 14th, for the country.
During the last few days there has been a rather
moderate amount of business transacted in the
Foreign and Colonial Produce Markets. Sugars
have been neglected, and the few sales effected in
the private market have been of slightly reduced
prices. For coffee, however, there has been a fair
Inquiry, while slightly enhanced rates have been
obtained for tea. Rice has commanded full prices,
While for tallow there has been a better inquiry at
enhanced quotations for both present and forward
delivery.

. ,
- ----- ...
Decrease
131111 inn ...
••• • 00 • .•
• • •
Not Increase ... ...

Two o'CLocK.
At the Paris Bourse this morning, according to
R'euter's telegram, the 3 per Cent. ltentes were
68f. 45c. Firm
There are the same indications of easiness in the
general appearance of the Discount Market.
Buoyancy was the characteristic of the English
Stock Market this morning, and a farther rise of
Per cent. took place. Asa per cent. advance oc-
curred yesterday, the additional improvement led to
;sales in realisation of profits, and the I per cent. has
been lost in consequence. Consols for money are
89 and for the account (ex div.) 88 Business
is
--°t very active, but there are signs of speculative
dealings.
In the Foreign Stock Market the dealings have
been rather numerous, and quotations generally
thew an improvement. Turkish Consolides have
risen a. to 474 484 ; Mexican, ex all, are 2511;
the New Loan, 214 ; Greek are I better at 19 4 ;
Spanish Passive are 281 the Certificates, 134