The Sun.
London, England, 1870-07-19 00:00:00

THE StfN, LONDON, TUESDAY EN ENING, JULY 19, 1870.

1111 SE R lAL PARLIAM ENT.

, HOUSE OF COMMONS.—Tm 2 DAY.
The Speaker took the chair at five minutes past two
o'clock.

THE THAMES EMBANKMENT.

Lord Onto FITZGERALD, Controller of the Queen's
Household, brought up her Majesty's reply to the address;
irons the House in reference to the Thames Embankment,
which was reserved to the Crown, and which had been
reclaimed from the river at the expense of the ratepayers
of the metropolis. The reply stated that as no public
offices could be erected without a vote of Par-
liament, the House had in its own hands the
mans of giving effect to the prayer in the address.
Fier Government would not ask for such a note unless
they had reason to suppose it would meet with the
auproval of the House.

rH E MONEY MARKET

AND

COMM Eil CI AL INTELLIGENCE.

CITY, Two o'Clocx

Business on 'Change to-day was much depressed. Con-
sols have fallen to 8:/, the lowest point touched since
1866. Foreign Bonds continue weak. Spanish 1869's
have fallen to 234.; and 1867, 234 to 24. Turkish Six per
Cents, 1869, 47 to 49 ; Five per Cents, 37 to 39. Railways
very dull.
'Consols are now 901 to 89 for money, and 904 to 89
for account; Three per Cent. Reduced, 901 to 894 ; New
Three per Cents., 904 to 891; Exchequer Bills, 2s. prem.;
India Five per Cents., 1104 to 111; ditto Four per
Cents., 1031 to 1024.
In Bank 'shares Alliance are quoted 131 14; Anglo.
Austrian, 5 to 7 prem.; Chartered Mercantile, 28 to 30;
Consolidated, 4i ; Imperial Ottoman, 111 to 104; London
and County, 50 to 51; London and Westminster, 60 to 62 ;
London Joint Stock, 33 to 34 ; and Union of London,
364.
In the Foreign Market Brazilian Bonds of 1865 are
87 to 88 ; Egyptian Seven per Cents, of 1864, 87 90 ; ditto
of 1868, 69 to 70 ; Spanish of 128', 234 to 25 ; ditto of
1869, 231 to 2; 4 ditto Quicksilver, 5 die. ; Peru-
vian, 844 to 854 ; Turkish Five per Conte. of 1865, 36
38 ; ditto of 1869, 48 to 50 ; and Five per Cent. Italia.
of 1865, 85 to 88.
The Railway Market—Metropolitan ex, 674 to 68 ;
Great Eastern is 36 ; London and Brighton, 384 ;
Caledonian, 14; South-Eastern 681 to 684; Manchester,
Sheffield, and Lincolnshire, 47 to 474 ; Great Northern,
117 ; ditto (A), 124; North Eastern, 135 to 164 ;
London and North-Western, 124 to 125 ; Midland,
1254 ;11Lancashire and Yorkshire, 133 to 1334 ; Great
Western, 66.
Canada Five per Cents. are quoted 941 to 95 ex div. ;
New South Wales Five Cents., 100 f to 101 ex div. ;
New Zealand Five per Cents., 981 to 884 ; Queensland
Six per Cents., 106 to 1064 ex div. ; Victoria Five per
Cents., 100 to 1004 ex div. ; and ditto Six per Cents.,
111.

The Scandinavian, from Quebec, has brought £52,500 in
specie ; the Allemania, from New New York, £10,500 ;
the City of Limerick, from Brazil, £5,385 ; and the
Oneida, from Brazil, £19,296.
The failure of a firm of stockbrokers, with liabilities to
the amount of about £70,000, has been announced. Pre-
vious to the panic they were buyers of all sorts of securi-
ties, including Consols, railway stocks, and foreign bonds.
Their transactions were largest in the latter, the fall in
which of late has been so great. It is understood that in
most instances these operations were entered into on
behalf of clients, who have failed to pay their differences.
A favourable liquidation, however, appears to be antici-
pated. Two other suspensions, but for much smaller
totals, have also taken place in the Stock Exchange,
making a total of fifteen in connection with the fort-
nightly settlement.
The Liverpool Journal of Caznierce announces the
suspension of two large firms in the cotten trade.
At Lloyd's a great many war risks have been offered,
end business has been transacted, but not without diffi-
culty, owing to the uncertainty as to further complications.
Many of the leading underwriters prefer watching events,
until they can form some definite opinion, to yielding to
the excitement now observable in the Room. It is appa-
rent that German ships have been very widely
used in all the trades. The freight market is in a
most sensitive state, but at present there is not
much increase in the demand for vessels for outward
employment, and it will probably be some days before
any improvement is established, except in rates from
the Baltic and the Black Sea for gain, which have
risen in consequence of the transactions on the Corn Ex-
change.
From Brazil we learn that the bill to give the guarantee
0f.,5 per cent. interest on the £485,000 additional capital
of the Pernambuco. Railway had passed, and was to
take immediate effect—a result honourably promoted
by Senhor Diogo Velho, the Minister for Public
Works.

The Argentine Government have concluded the con-
tract of 40 years' privileges for the laying a submarine
telegraph from Cape San Antonio to Rio Grande, and
thence along the coast to Rio Janeiro.

With regard to the Norwich Crown Bank (Harvey's
and Hudson's), it is announced that the books have been
placed in the hands of Harding, Whiney, Gibbons, and
Co., by the wish of the principal creditors, and with the
concurrence of the debtors. The liabilities are a million
and a half, and the assets uncertain, but very large. The
dividend cannot be estimated at present.

The report of the Bank of Egypt, to be presented on the
22d inst., recommends the usual interim dividend at the
rate of 10 per cent. per annum for the half year.

The report of the Fore-street Warehouse Company
(Limited) recommends a dividend at the rate of 10 per
cent. per annum.
The Staffordshire Joint-Stock Bank (Limited) has
declared the usual interim dividend of 15s. per share, being
at the rate of 7i per cent. per annum.

The books of Mr. Magnus, of the Pimlico Slate Works,
have been placed in the hands of Messrs. Norfolk and
Yalden, accountants.

LONDON GAZETTE-THIS EVENING

DOWNING-STREET, JULY 18.

The Queen has been pleased to nominate James Robert
Longden, Esq. (now Lieutenant-Governor of the Colony
of British Honduras), to be appointed Governor and Com-
mander-in-Chief of the Island of Trinidad.

THIS MORNING'S NEWS

HOUSE OF LORDS—MONDAY.
The Lord Chancellor took his seat on the Woolsack at
five o'clock.

THE WAR BETWEEN FRANCE AND PRUSSIA.
Earl RUSSELL said he wished to put a question to his
noble friend the Secretary for Foreign Affairs. It was
DOW unhappily certain that the calamity of war had broken
out in Europe. He referred to the statements made by the
French Minister on the sth and 15th of July. The French
Government had fully explained what were the
grounds on which they had gone to war, and as the
French Chambers had both almost unanimously approved
of its course, it would be hardly his duty, as a member of
the British Parliament, to have referred to them, if the
Duc de Gramont on the sth July, and M. 011ivier on the
15th of July, had not stated that the French Government
had opened negotiations with all the foreign Power", in
order that the legitimacy of its complaints might be re-
cognised and understood, and that the majority of the
Great Powers admitted the justice of the French demands.
He wished to ask his noble friend if he wouldmake a state-
ment such as was made previous to the Crimean war. He
wished to ask whether her Majesty's Government had in-
timated that the French Government had good grounds
of complaint in the candidature of the Prince of Hohen-
zollern for the Spanish Crown ; also whether if such was
the case, whether the approval extended to the threat of
war on the. part of France, and also to the further de-
mands of the French Government after the candidature
of the Prince of Hohenzollern had been withdrawn, and
to the demand of France that under no circumstances should
the Prince ever become a candidature for the Spanish
Throne ?—Lord Cairns, upon the noble lord resuming his
seat, said perhaps the noble earl would also state whether
it was intended to bring in any bill for the better enforce-
ment of the neutrality laws.—Earl Granville said it was
the intention of the Government to introduce such a mea-
sure immediately. With respect to the questions of the
noble earl, he must observe that the noble earl had given
notice that he should put two questions, but he had omitted
to put one, and as to the other he had but barely referred
to it. He was most anxious to withhold nothing from
Parliament. He had on a former occasion informed their
lordships of the policy of her Majesty's Government, and
to that they strictly adhered. He should be able to lay
the papers he had promised on the table in the course of
a few days. In the meantime he was in their lordships
hands ; but he thought it would be more convenient if he
delayed any remarks that he had to make until the
papers were before them, • instead of making
an exparte statement. There was an unfortunate
discrepancy between M. du Gramont and him-
self, but he believed there was no difference
as to the facts, and that whatever inference M. de Gra-
mont drew from them he did not impugn his (Earl Gran-
ville's) statement in the least degree. He would therefore,
with their lordships' permission, reserve any statement
until the papers had been delivered. It was unfortu-
nately too true that a declaration of war had been sent
from France to Prussia, and it would be the duty of her
Majesty's Government immediately to issue a proclama-
tion of neutrality. He was happy to say that a
fortnight ago the relations of her Majesty's Govern
ment with the Governments of France, Prussia,
and Spain were mostfriendly, and although they
felt it to be their duty during the last ten days to use the
strongest language, consistent with dignity and self-
respect, these friendly relations had not been impaired in
the slightest degree. Her Majesty's Government held
that it was its duty to do its best to maintain an attitude
of strict neutrality, to act independently towards all
parties, believing-that by so doing they would be in a
better position whenever a favourable opportunity showed
to act with influence and utility. The remarks of the
noble earl elicited cheers from both sides of the House.
THE ROYAL MINT.

The Earl of KINNAIRD moved for a select commttee
to inquire into the mode in which the work at the Royal
Mint was carried on. He believed that the system in
operatioi. was extremely faulty, both with respect to the
work performed, and the pay of those who executed it.
Dissatisfaction WAS loudly expressed in many quarters at
the system now in operation, and it would be well to have
the whole matter thoroughly inquired into.—The Marquis
of Lansdowne thought there was no necessity for the pro
posed inpuiry, and having stated his reasons for opposing
the motion the noble earl did not press it, although he said
he withdrew it with much regret.

The Life Assurance Bill (Mr. Cave's measure) and the
British Columbia Bill were read a second time.

Their Lordships then went into committee on the Mar-
ried Women's Property bill. Lord Penzance and the Earl
of Shaftesbury gave it their approval, after which its
various clauses were considered, and the bill passed
through committee, and was reported with amendments.
Several other bills having been forwarded a stage, their
lordships adjourned at five minutes past eight.

HOUSE OF COMMONS.-MONDAY.
THE ARMY ESTIMATES.

The House went into committee of supply on the army
estimates. The vote in respect of the volunteer force
gave occasion for a pretty lohg discussion; and the Secre-
tary of State for War explained that it had been thought
advisable to increase the efficiency of the force, and it had
been determined to enable the officers of each company to
earn an additional capitation grant of £2105., which would
amount to £2O, or equal to an increase of ss. capitation.
The vote in respect to the experiments with guns raised
the whole question of small arms and artillery, and the
inevitable result was the introduction of the Armstrong
and Whitworth controversy.—Mr. Bernal Osborne, in the
impetuous manner which characterises. him, declared that
we were on the eve of a great European war, and we were
unable to play our part in Europe because we had
got into such a muddle with our cheap and
nasty system. This declaraction was received with
laughter, mingled with applause, and the hon. gentleman
assured the committee, and he had made this assertion
advisedly, and they could not at this moment put 50,000
men into the field. Some bolder member, "15,000."
THE ARMY ENLISTMENT BILL.

On the house going into committee on this bill, Major
Dickson moved that the chairman leave the chair. He
thought the momentous events occurring on the Continent
were a sufficient justification for this proceeding. It was
necessary that the House should have an opportunity of
considering whether it was desirable to experimentalise
with the army at a time when two great military Powers
were about to engage in a great struggle. He believed that
the bill would destroy that which, so far as its numbers
went, was the finest army in the world. The legislation
now proposed was purely theoretical, and was opposed to
all our experience and practice in the past. If the bill
were passed the army would be composed of young and
inexperiencad men.—Mr. O'Reilly supported the bill, and
contended that the hon. and gallant gentleman had misun-
derstood the scope of the measure. There was nothing to
prevent the War-offiCe authorities retaining the men after
three years' service. At the same time three years in his
opinion were sufficient to make a good soldier.—Major
Lindsay and Viscount Bury protested against the passing
of the measure, especially under the present circumstances.
—Sir J. Pakington appealed to the Secretary fol. War to
proceed no further with the bill at the present Continental
crisis. —Mr. Cardwell pointed out that the measure did not
deprive the authorities of one single power which they
now possessed. On the contrary, it would increase the
power of the authorities. He denied that it was a revo-
lutionary change in the constitution of the army, and
contended that it would increase its efficienCy and the
power of recruiting. In a period of great excitement,
a large number of men would join the army for a period
of three years. The right hon. gentleman subsequently
stated that with the single exception of the year which
succeeded the Crimean war, before the troops had been
disbanded, there were now more soldiers in this country
available for foreign service than in any year since
1816. The motion was then lost. The committee
proceeded to consider various amendments, which were
opposed by the Government. The whole of the clauses
were eventually agreed to, and the bill passed through
committee.