The Sun.
London, England, 1860-02-06 00:00:00

I2VDT4N FINANCE.

The circumstances of the financial operation very
indistinctly described by Sir Charles Wood in the
House of Commons on Friday appear to be as fol-
lows :—The Council of India, as is well known,
have held in reserve a sum of £2,000,000 of Indian
Four per Cent. Debentures, dated 1859, which were
not placed upon the occasion of the last negotiation
of those securities. The act which authorised the
Indian Five per Cent. Stock of 1859 gave the In-
dian Secretary power to issue more stock against
any debentures which may fall due. By issuing
for a brief period the Reserved amount of Four
per Cent. Debentures above specified to the Bank
of England (perhaps in lieu of Indian Bonds held
by that establishment as security for former ad-
vances made to the Council of India) the deben-
tures are made due, and are then converted
into the Indian Five per Cent. k tock of 1859.
At that very time the Canadian Government,
which has just raised a loan of £2,800,000, is
in want of a Government security wherein to
invest, for the satisfaction of the Imperial Go-
vernment, the sum required for the sinking
fund on the Old Canada Loan guaranteed by the
Imperial Government. 'rho Canadian Govern-
ment accordingly takes. £1,300,000 of the Indian
Five per Cent. Stock of 1859 created by these
means, and Sir Charles Wood descants upon the
advantageous character of the whole operation.
Very possibly he is right in doing so, but the
public would like to know the terms upon which
these somewhat peculiar transactions have been
arranged.. The Council of India do not appear to
have been in any immediate want of money, and
this circumstance renders it less easy to understand
the selection of the present juncture for issuing the
Four per Cent. Debentures. On the other hand,
it is satisfactory to know that the reserved balance
of the debentures is placed. There is another
point of interest to the holders of the Indian Five
per Cent. Stock of 1859: the act of Parliament
authorising the Canadian Loan with the Imperial
guarantee stipulated that the sinking fund should
be invested in Government securities, and with the
special consent of the Imperial Government. Does
the British Government, tlerefore, recognise the
Indian Five per Cent. Stock of 1859 as a Govern-
ment security ?—Daily News.

We announced a week or two since that the in-
tention of Government was to add about 22,000 men to the
reeler army, disbanding the militia at the same time, and
bringing home several regiments from India. We have
reason to believe that the spirit of economy has, since then,
stepped in, and that the proposed augmentation will be con-
siderably less than that originally proposed, and all but
officially settled at the time of our announcement. The
army estimates are understood to have been revised with a
view to reduction, and they will be laid before the House
of Commons in their new shape in the course of nest week.
We expect to find the proposed increase to the Guards lithe-
gether abandoned, and that of the Royal Artillery and
Line very considerably modified. As statements continue
to be made by some of our contemporaries respecting new
battalions, perhaps it maybe well for us to repeat what we
have before said, that the increase in the Line will be made
in the shape of an addition to each company ; consequently
that no new battalions will be formed.—..lrmy and Navy
Gazette.
THE BUDGET.—In consequence of an impression
prevalent among the spirit merchants of Glasgow that Mr.
Gladstone intends in his Budget to propose an increase in
the duties on spirits, the excise duties paid in that city dur-
ing last week have largely increased. Up to Friday-after-
noon the extra duties paid amoeauxbonptevercileettnohceuedp:o•ards of £BO,OOO
enraFgreidamayo,unwhteonf
bTehtwo
eegrenaite2sot,ooexociatnedmext7oaoso
duties was paid.

NEWSPAPER
,---
t,O3.IX.CPCOJAZ,7.p.tz 71 'Mit `- — >4,-,.
-/. \sr:.
The following memorial has beeri goktdiaiik .I.ri
• ------"---- igril44-.A.1.1--- ~ 0
the Chancellor of the Excht quer : . n.74W-?'",;1:('' 14.1
r,
To the Right Hon. William Ewart Gla'iti- '''' ' Si,s A
cellor of her Majesty's Exchequer, '\&`:. : - , 7'.•
The Memorial of the Newcastle, Shields, an *tea
head Chamber of Commerce,
Respfctfully sheweth,—That the late proceed-
ings of the French Government with respect to the
introduction of a modified tariff, and the intimation
that that country desires to carry out this change
by means of commercial treaties, 'nduces 1 his Cham
1 ber to bring under t he notice of her Majesty's Govern-
ment some rear arks on the productions of this
locality, in the hope that any information on the
geireral bearings of the respective articles herein-
after referred to may not be unacceptable.
Although it is to be regretted that this change
has to be inaugurated by means of commercial
treaties which may more or less create difficulties, we
doubt not a recollection of the opinions which were
prevalent in this country not more than 20 years
ago, when the question of free trade was not gene-
rally understood, will be deemed a sufficient excuse
for there of our neighbours who desire to prolong
the existing regulations for the longest possible
period.
The corn laws were first undermined by the per-
mission to grind foreign wheat in bond, a measure
which was seriously opposed, yet it became the
forerunner of free trade in corn ; and so will any
commercial treaty with France become the stepping
stone to free trade in that country.
I
COALS.—On this article it is hardly necessary to
make any comment, as it is considered a raw mate-
rial on both sides of the Channel, and will, there-
fore, in all probability, be placed on a satisfactory'
footing. As, however, it is proposed to defer the re-
duction of the duties for some time, it may be ad-
visable at once to secure to this trade any advan-
tages which may be attainable through the con-
templated change in the rates now payable in re-
spect of canal and railway dues.
We would . also wish to point out that the Cue-
toms duties should represent the sole charge upon
this article—excepting any octroi dues (so long as
this impost shall remain in force) which should be
made payable by all coals alike, and only at the
place of their destination.
It is apprehended that ckarges might otherwise
be imposed by municipal authorities upon coals
which may have to pass through municipal boun-
baries on their road from the ship to the place of
consumption.
COKE.—This article is at present charged with
double the duty payable) in respect of coals.
As it requires two tons of coals to make one of coke
it may be difficult to obtain a better position fur
the latter, so long as duties are imposed for the
protection of native industry.

IRON.—Pig iron, it is assumed, will naturally be
considered a raw material, and be treated accord-
ingly. Other sorts of iron, such as castings, forg-
ingr, rails, bars, bolts, chains, anchors, cables,
sheets, boiler and ship plates, &c., upon which
labour has been employed, will in all probability
be subjected to higher duties, though the policy of
doing so may be questioned ; it will, therefere, only
be necessary to secure in respect to them the lowest
rate of admission which the French Government
may tie disposed to sanction.
GLASS.—This article should be perfectly free on
both sides of the Channel, as it is questionable
which of the two countries can produce the cheapest
and best description. It is presumed that each will
excel the other in some branches of the trade.
SOAP.—The same remarks apply in this case.
EARTHENWARE.—The manufacture of thisartiele
in this locality is mostly of second and third rate
quality, and not equal to the earthenware made in
Staffordshire and Worcestershire; to admit it at a
nominal duty would therefore be an advantage to
the French consumer.

GRINDSTONES.—This article is cheap, and its
utility to France is best proved by the fact that it
is now imported to a considerable extent.
ROPES AND SAIL CLOTH.—These are manufac-
tured here in moderate quantities ; and in regard
to them, equality in respect to duty, both here
and in France, may also be recommended.
ARTICLES MADE OF FIRECLAY.—Fire bricks, and
other articles made of fire clay, such as gas retorts, _
&c., sanitary and other pipes, common bricks, and
draining tiles, are manufactured extensively, in
consequence of the clay in this vicinity suitable for
the respective purposes being inexhaustible. These
articles being imported largely by almost all coun-
tries, it is presumed that the French also would de-
rive benefit from their free admission.
LEAD.—Lead, both in pigs and manufactured
into sheet lead and pipes, also white and red lead,
&c., and pain ts of all sorts, are extensively produced,
and might b• admitted at a moderate rate of duty.

TELEGRAPHIC COMMUNICATION BETWEEN ENG-
LAND AND AUSTRALIA.—It will be seen by the resolutions
which Mr. Forster is to move in the Assembly, that New
South Wales is in the first instance asked to pay £9,625 per
annum towards the proposed submarine telegraph from
Moreton Bay to East Java. This subsidy is to be reduced
to £7,700 by the contributions of the minor colonies. "Vic-
toria is to contribute £•25,371—a150 to be reduced to £20,300
in the same manner. The whole subsidy asked for is, there-
fore, £35,000; and in distributing the contributions of the
several colonies, the proportions in which they contribute
towards the postal subsidy have been preserved. Thus New
South Wales will contribute 22 per cent., and Victoria 58
per cent, of the whole amount, though in the first instance
the contributions of these two colonies are fixed at 271 per
cent., and 721 per cent. respectively, so that the Company
should deal with them alone, leaving New South "Wales and
Victoria to deal with the minor colonies. 271 bears the
same proportion to 72% as 22 does to 58. Western Aus-
tralia cannot be asked to contribute. Her share, how-
ever, is less than 1 per cent. towards the postal sub-
sidy. The share of New Zealand towards the same is
5 11-18. It would appear equitable that the new colony of
Queensland should take upon herself the whole share of
Western Australia, and half the share of New Zealand,
which will only be brought within six days of London by
the telegraph terminating- at Moreton Bay. The term of
.50 years, during which the subsidy is to continue, is taken
from the duration of the guarantee granted to the Red Sea
and Indian line by the Imperial Government. 'We are also
authorised to state that the figure of .05,000 has been cal-
culated with a view of leaving about 2 per cent. as a divi-
dend upon the estimated outlay (E 720,000), after paying the
working expenses of the line, which, after careful investi-
gation have been fixed at £20,000 a year. It will be ob-
served with satisfaction that the payment of the subsidy is
made conditional upon the efficient working of the line,
ceasing if it ceases to work.—Sydney _Yarning Herald.
The statement that certain captains were to be
promoted, in order to get young men on the admirals' list,
which appeared some shot t time back, having given rise to
many inquiries, it may be as well to state that there is no
foundation for the report.—Army and Navy Gazette.
St. George's Hall, Windsor CAPtle, is now dis-
mantled of the principal part of its dramatic appurtenances.
The stage and theatre are removed, and the hall is to be
prepared for a musical performance, to take place on the
10th inst., in celebration of her Majesty's wedding-day,
when a select party will be honoured with invitations to be
present.

- THE SUSSEX HALL LTBRARY.—Mr. L M. Roths-
child has purchased the Sussex Hall Library, which was
about being brought under the hammer, consisting of about
4,000 volumes, and containing a collection of valuable
Hebrew works. Mr. Rothschild has presented the library
to the Jews' College, 10, Finsbury-square. It is expected
that arrangements will be made whereby the books will
likewise become available as a free library for the benefit of
the Jewish community.—dervish Chronicle.
THE MURDER IN SUSSEX. WINCHELSEA
(SussEx), Saturday.—The inquest has just been concluded
in this case, with a verdict of "Wilful murder against some
person or persons unknown." The particulars are briefly
as follows :—The deceased, whose body was found by the
'seashore, at the east side of Rye harbour, was identified as
a man named W. sands, a native of Coxhcath, near Maid-
stone, Kent. He was about fprty years of age, and when
found had been in the water apparently but a few hours.
On his head were no less than six deep incisions, and also
another over the right eye, evidently inflicted with some
sharp instrument, and leaving no doubt that a most brutal
murder had been perpetrated, the murderers afterwards
throwing the body of their victim into the sea. The medi-
cal testimony clearly proved that the deceased met a violent
death, and the jury returned the verdict stated above.
A curious incident occurred two nights back in
the course of the performance of the piece called " L'#!B;
toire d'un Drapeau," at the Cirque-Imperial. One gi...el
scenes represents a number of soldiers of the Repubti .
with
army in Egypt, exhausted with fatigue and overcome
arrives and pacifies them. They, however, pointvho
appears
heat, grumbling at their lot, when Generalßonaopuatrttoa
him one of their comrades, a young volunteer,
on the brink of death, and the
be conveyed into his own tent,and receive.,,
follow the example. On
The soldiers applaud, and the publicin the gallery, on seeing
the evening in question an old t?
to the tent, jumped up and
general ordteerees;ethryatahtteensthitall.
the young volunteer removed.,
and that it was he who had
in the
;‘hfitmwthesatlthl eitinwcaidselntl" He
drama had really occurred, .
criedthen relatedou t
( f the
On the conclusion ) performance a sort
figured in it.
withtogtrheeatpee
ompolett
nonea
stunt
.Public of Lyons publishes the follow-
town in the department of the Aube
ing : —At a small lives
he lived alone, de-
in pendent means, named V
of olv‘haetiono,fweai
—, noted for his
miserly habits. rt.
Bdeiwnto:tethoe:oorsltdrsiemetranvaa.nt,
an economist to incur the
houelit
voting his every t b to the increase of his
board. One of his latest expedients for saving, how-
ever, proved rather unfortunate.
eaxp.meannseef . --de_
The municipal autho-
rities, with a view to preventing fires, gave
notice to
the inhabitants to have such chimneys swept, as re-
quired it, before a certain day, when a general inspection
would take place. y______, knowing that one of his ehim-
neys was foul, determined to save the franc a chimney-
sweeper wouli charge, by doing the job himself. He ac-
cordingly
arranged his toilet in the manner he thought
best suited for the work, and, brush in hand, began to
ascend the chimney. When about half-way up, he found
the flue getting much narrower, and, with great difficulty,
he pushed on until at last he became so fixed between the
walls that he could neither advance nor retreat. lie
struggled till quite exhausted, and when a little recovered
began to shout for help. his cries were so indistinctly
heard that none could tell whence they proceeded, and the
poor miser had to remain all night in his very uncom-
fortable quarters. Some of the neighbours heard his cries
and means, and in the morning a general se arch was made,
which led to the discovery of the amateur chimney-sweep.
It was fonnd impossible to extricate him without cutting
through the wall, and a mason was accordingly sent for,
who soon set the prisoner free, at the cost of 10f., the pay-
ing of which, however, the miser thought worse punish-
ment than the sixteen hours' imprisonment,

BENSON'S WATCHES.
" Perfection of mechanism,"—Xorning Post.
-Gold Watches 4 to 100 guineas.
eilTer Watches
33 and 34, Ludgate-hill, London, E.C.
send 2 stamps for Benson's Illustrated Pamphlet on Watches

ROYAL ENGLISH OPERA,
COVENT-GARDEN.
Under the management of Miss L. Pyne and Mr.W. Harrison.
THIS EVENING, MONDAY, Feb. Gth, TROVATOREes
Messrs. Santley, H. Haigh, Walworth, and Lyall ; Miss
Pilling and Parepa.

Conductor, Alfred Mellon.
To conclude with the new grand pantomime, calle Gd FUSS
IN BOOTS ; or, Harlequin and the Fairy of the olden
Palms. Messrs. W. H. Payne, H. Payne, F. Payne, Barnes,
Tallien, infants Lauri, and Misq Clara Morgan.
Doors open at half-past 6—Commence at 7.

THEA TRE-ROYAL, HAYMARKET.
'ASSN', Mr. J. B. Buokstone.
THIS EVENING, will be performed THE STRANGER.
Mt Haller, by Miss Amy Sedgwick.
After which, the new Haymarket ComieCluistmas Panto-
mime, VALENTINE'S DAY; or, Harlequin and the Fairy
of the True Lovers' Knot. The pantomimists the unrivalled
Leelercqs.

should jeopardise everything.

THEATRE-ROYAL LYCEUM.-
Sole Lessee and Directress, Madame Celeste.
Last Nights of the Spanish Dancer, Isabel Cubas.
THIS EVENING, a new Drama, called A TALE OF
TWO CITIES, by Tom Taylor, Esq., from the story of that
name by Charles Dieken,:, Esq. Principal characters by Mr.
James Vininz, Walter Lacy, Villiers, Rouse, Forrester, J.
Johnstone, 'l'. Lyon, Morton, Palmer, White, 11. Butler,
Clifford, and Fredericks ; Misses Kate Saville, Stuart, Turner,
airs. Campbell, and Madame Celeste.
After which, will be produced a new Grand Christmas Ex-
travaganza and Pantomime, KING THRUSHBEA.RD, the
LITTLE PET and the GREAT PASSION. Clown, Mr. H.
arshall—Columbine, Miss Rosino.
Commence at 7.

ROYAL PRINCESS'S THEATRE.-
Lessee, Mr. A. Harris.
_ Re-engagement of the Wonderful Damn', Mons. Espinosa.
kirst appearance of Mdlle. Marietta Rosetta, Principal Dan-
sf-use of La Scala, Milan ; and the Delapierre Family.
These highly-talented Children will appear every night.
The Royal Princess's Rifles on parade every evening.
THIS EVENING, THE CRICKET ON TILE HEARTH.
After which, a new Christmas burlesque pantomime, by H.
J. Byron, called JACK Til E GIANT KILLER ; or, Harle-
quin King Artliur and the Knights of the Round Table.
Jack, Miss Louise Keeley—Harlequin, Mr. Cormack Panta-
.oon, Mr. e aulo —Columbine, Miss Caroline Adams— Clown,
Mr. A. F. Forrest.

STEW THEATRE - ROYAL, AD ELPHI.
..k1 Sole Proprietor and Manager, Mr. BenJ. Webster.
Reproduction of TIIE DEAD HEART, with all its power-
ful effects.
THIS EVENING, THE DEAD HEART. Messrs. B.
Webster, J. L. Toole, David Fisher, P. Bedford, C. J. Smith,
Billington, Powell, Romer, Miss Woolgar, K. Kelly.
After which THE NYMPHS OF THE LURLEYBERG ;
or, The Knight and the Naiades. Messrs. Toole, Bedford,
Eburne, Smith, Powell, Romer, Miss Woolgar, C. Webb, K.
Kelly, Laidlaw.
Doors open at half-past six—Commence at seven. Box-
Office open from 10 to 5. No charge for securing seats,
nor for bills of performance. All fees to servants of this
establishment are strictly prohibited.

Acting Manager—Mr. Wm. Smith.

ROYAL ST. JAMES'S THEATRE,
Kimr-street, St. James's. Lessee, Mr. T. B. Chatter-
ton. Directress, Miss Wyndham. The nearest Theatre t•
Chelsea, Pimlico, and Westminster, the Park being open to
carriages and foot passengers all hours of the night.
THIS VEN LNG the performances will commence with
A DEAD SHOT.
Followed by a new sketch, A HOUSEHOLD FAIRY.
Miss Wyndham and Mr. H. T. Craven.
After which, a new Tragic Ballet, entitled MY NAME IS
NORVAL. Supported by C. Young, Barrett, Miss Lydia
Thompson, Clara St. Casse, &c.
And A BORDER MARRIAGE. Messrs. 11. T. Craven,
Charles Young, G. Spencer, and Miss Wyndham.
Reduced Prices--Gallery, 6d ; Pit, is. The Box-office open
from 11 to 5 daily. Doors open at hall-past six; perform
ance commences at 7.

ASTLEY'S ROYAL AMPHITHEATRE,
Westminster-road.
Last Two Weeks of Mr. W. Cooke's Season.
THIS EVENING, the Powerful Equestrian Drama 'of
THE WOODMAN'S HORSE, in which is displayed the
wonderful training of the Cream Palfrey, "Beauty, ' —Ex-
traordinary Acts of Ilosemanship by John Henry Cooke,
Miss Emily Cooke, and the great company of talented Pro-
fessors, French Pierrots, and facetious Clowns.
To conclude with the Comic Pantomime of HARLEQUIN
TOM MOODY ; or, Old Towler the Huntsman and the God-
dess Diana ; Diana, with Songs, Miss Jacobs ; Tom, Mr.
Herbert; Patty, Mr. G. Belmore.
Commence at 7.
Stage Manager. Mr. R. Phillips
Thefinal Morning Performance of the Pantomime will be
on Saturday, Feb. 11, at Two o'clock.

CANTERBURY HALL CONCERTS.—
EVERY EVENING. SterndAe- Bennett's MAY

QUEEN.
4na_ (Zirdlet 'Selection from Meyerbeer's new opera of
PINORAH.
Comic Vocalists —Messrs. George Hodson (the Irish Come-
dian and Mimic), W. T. Critchfleld, and E. W. Mackney.
Several interesting Pictures are added to the Fine Arts
Gallery. The suite of Halls have been re-decorated and
beautified, and constitute one of the most unique and brilliant
sights of the metropolis.
ROSA BON HEUR'S celebrated PICTURE of the HORSE
FAIR is now added to the already magnificent Collection of
Paintings in the Canterbury Hall Fine Arts Gallery. The
gallery is opea. from 5 till 11 on Sunday Evening.

TB B WEATHER.—Svx On icrl FEE. 5, 1860.
TIMILMOVETER, IN THS SHADS.
47 —highest since noon yesterday.
45—lowest this morning and during the night.
.50—this day at noon. _ _

BAROMETER-30; falling.
WIND, W.S.W. ; rather fresh, with fine mild weather.
FEB. 6.
THERMOMETER, IN THE SHADE.
52—highest since noon yesterday.
40—lowest this morning and during the night.
43—this day at noon.
BAROMETER—`29.B3 ; now 29.69.
WIND, North-Westerly ; fresh, with fine cold weather.

HIGH WATER AT LONDON BRIDGE.
Tam DAY.—Morning, lh. Om.—Afternoon, lh. 26m.
To-ioaßow.-Morning, lh. 51m.—Afternoon, 2h. 15m.

- 4
co-0.0 t•
1.4,*
h I • it,
s I
C. 4 l4-, ,
I• )1 'lrejz
1,44
•-•-

THE SUN.
LONDON, MONDAY, FEB. 6, 1860.

The indisposition of Mr. GLADSTONE has sub-
jected the country at once to an extraordinary in-
convenience, and to a very grievous disappointment.
The postponement of the Budget produces a dead
lock in the whole course of Public Business. Until
the Chancellor of the Exchequer recovers his voice
sufficiently to speak out, England--Europe, in a
great measure—is left in a bewildering maze of the
wildest. conjectures. It is the very time, of course,
for the flitting to and fro of the tittle-tattle of
every professional gobemouche. As bats are on the
wing at the mock twilight of an eclipse—all sorts of
flying rumours are about at this moment in the midst
of this strange obscurity in the political atmosphere.
Suspicions have broken away from their chrysalis
form, and fluttered off in the shape of the very
gaudiest canards. The larvaa of doubt upon both sides,
among both parties, have become within the last
few hours thus wonderfully transformed into the
most brilliant butterfly statements well imaginable
—statements, of course, put forth in each instance
upon the highest authority—statements about the
implicit acceptance of which there could not be room
for one instant's reasonable hesitation. And so—
quite naturally—it came to pass that while The
Press of the day before yesterday was announcing
in alarming posters and in extra-leaded leaders a
Ministerial Crisis, a French Cabal in the Cabinet, a
Distinct Treaty with our Imperial Ally, a Treaty
both Offensive and Defensive, and we don't
know what all the veracious and menda-
cious, and curiously and classically scurrilous
Saturday Revior (going just exactly upon the
opposite tack) suddenly announced the discovery
of the most amazing mare's-nest of the season, in
the shape of a secret compact entered into
between the Earl of DERBY and, with him,
the Earl of DERBY'S party, and [tell it not in the
Gath of Exeter Hall—publish it not in tha Askalon
of the purlieus of St. George's-in-the -East] —hin t
it not to Mr. SrooNERI
NEWDEGATE!—and whisper it not to Mr.
the emissaries and represen
overnment I
tatives of the Papal G

Brushing aside this gnat-like swarm of worr3 ing,
teazing, droning, rumours—there remainsbefore
us the stubborn and disagreeable fact that the
II
Budget is postponed. Instead of making his finan-
cial statement this evening, as had been formally ,
arranged, Mr. GLADSTONE will now have three
days more grace, and at the end of these will—
influenza permitting—submit that financial state-
ment to.the House of Commons at the latest on the
evening of • Thursday. To say that the delay is,
under the circumstances, singularly vexatious, is,
of course, to say merely what if left unsaid would
be perfectly self-evident. But, remembering what
the circumstances actually arc, we may add, we

........,---........----.:.........---,----
are almost constrainedby the forc
_© of our convictions
to add, tbat the " baulk" is in " every *respect_
most ominous for the Government. It is as omin-
ous in its way as the Romans would have deemed
it—had one of their Caesars, on setting forth on
some great enterprise, stubbled upon the threshold !
It argues ill, in every particular, that:the Tre4ty
has been hushed up so carefully to the last moment,
until the most adroit rhetorician of the Sixteen
should, with the grand national Thumbscrew of
the Budget in his hand, held in terrorins before
the Commons, explain the obnoxious clauses
of this wonderful Treaty, away, at the instant
of its first revelation before Parliament !
And then that, at that lost moment, a trifle
like a cold, a sore throat, a sudden hoarseness,

One naturally asks

oneself can the race be won when the jockey is so

heavily weighted ! Will not all that ponderous
and complicated mechanism shipped-amid-ships,
break the back of even that good ship of the Coali-
tion when held suspended in the heavy swell of the

session, upon the crest of those two giant waves—the
division upon the Budget and the division upon the

Treaty. Too much is obviously dependent upon
this wonderful, wordy Financial Statement—now
abruptly delayed by a tantalising casualty from
Monday to Thursday. What is it in fact that
Mr. GLADSTONE is expected to do—or rather,
perhaps we should say, what is he not expected to
do through the medium of his Financial State-
ment ? - [The Signal for the sudden delay of which,
by the way, is strictly Shaksperian, being, as in the
last scene of the "Merry Wives of Windsor,"
simply—" Mum, BUDGET !"] The Chancellor of
the Exchequer, then, among other surprising
political and financial pirouettes, will have
to turn round swiftly and upon the instant
upon all kinds and descriptions of subjects—upon
the income-tax, upon free trade, upon the war with
the Chinese ! He will have to advocate the cause
of a Commercial Treaty directly opposed to all
Free-trade principles ! He who himself, seven
years ago, voluntarily pledged the Treasury to
forego the Income-tax altogether in this very year
of grace 1860—will, in this very year of grace,
1860, have to demand the reimposition of that worse
than simply obnoxious tax, of that absolutely ab-
horred tax, at the rate of Ninepence ! And to what
end ? Why, actually, forsooth, he is in the inte-
rests of " Peace" to ask for the * imposition
anew of a regular " War " tax of .Nine-
pence on the incomes of the English. People,
on the thrifty earnings of the labour and indus-
try of the masses of toiling Englishmen—so that
our Imperial neighbours over the way (who, we
are to remember with awe, possess so very power-
ful a steam fleet, and have, besides that, such an
exceedingly formidable army of 500,000 men, in-
eliding among them those terrible dare-devils the
Tnrcos and Zouaves, and Chasseurs d'Afriques)
so that in craven terror of what our friends -in
France may do to us unless we consent to con-
ciliate them, we may (in , the name of Free Trade)
truckle to their Protectionist prejudices ! We are
to pay an income tax of ninepence, so that the
duties may be dropped on silk and claret—the
toiling millions in England having such a pro-
f bable chance before them of wearing silk,
and such a reasonable prospect of drinking
claret ! And all this while the French
monopolists are to have a clear eighteen months'
grace, without conceding during that halcyon
• interval a single tittle of reciprocated advan-
tages ! Why, absolutely in the presence of this
monstrously and glaringly one-sided treaty, signed
at Paris (with a painful consciousness before him
of NAPOLEON'S steam fleet and army of 500,000
men, and the dreadful possibility of war being
adventured upon against poor, little, helpless,
decrepid England, by that formidable poten•
tate !)—why, with a one-sided treaty like this
before us, a treaty signed the other day so very
eagerly by our Peace-at-any-Price Plenipotentiary,
we may confidently pronounce the notorious Con-
spiracy Bill to be just absolutely nothing in com-
parison !

The Question now simply resolves itself
to this—Will Englishmen agree to pay nine-
pence in the pound on their incomes so that
they may no longer be frightened out of
their senses by the perpetual fear of a French
Invasion ? Will Englishmen pay an income tax
of ninepence, so that the duties may be dropped on
silk and claret for the particular benefit of the
wealthy class of consumers ? Will Englishmen pay
this income tax of ninepence for the sake of a
singularly ingenious plan for extending Free
Trade principles to France by means of a
commercial treaty, the chief feature of which
is an outrageous concession to French
Protectionists ? Above all—will Englishmen con-
sent to do all this at the behest of Mr. COBDEN,
who is a Free Trader no doubt, who, to his honour
and glory, is the first and foremost of all Free
Traders, but who is also (unhappily for England at
this juncture) a conspicuous advocate of the craven
and astounding doctrines known as those of
Peace-at-any-Price ?
Eighteen months, is it, Mr. COBDEN, during which
England is meekly to wait for reciprocations from
France ? England all the while paying dawn upon
the nail that cruel ninepence Income Tax, which
is the most cunningly - devised scheme ever
contrived for any nation by means. of
which she is enabled to pay her heart's
blood for drachmas ! Eighteen months !—is that
the interval, Mr. COBDEN ? Is that the interval,
Oh, wonder-working Coalition ? Who shall say
what may be the political situation at this rate in
eighteen months ! Particularly remembering that
Continental Europe is heaving and seething
towards War in several distinct directions—
at the very moment that Imperial France,
sword in hand, occupies a dominant position
in the councils of Christendom—at the very moment
when England is being cozened into these craven
concessions through the agency of a Peace-at-any-
Price Plenipotentiary ! Whether the present junc-
ture is one of a Ministerial crisis or not—it is cer-
tainly one of a National Crisis, and of a National
Crisis of vital importance. And it is this consideration
beyond all others that we would now urge upon the
judgment of the Legislature. The Treaty, at least,
ought, in very decency, to be laid this evening upon
the table of both Houses. The Budget again, in its
turn, is promised for Thursday. Both Treaty and
Budget the nation, at this juncture, earnestly and
confidently commits to the PATRIOTIS3I and to the
CONSCIENCE of the Commons House of Parliament.

Amor, the many wonders of our Age there is
none that yet comes up to the Electric Telegraph
It seems as if we were speaking through eternity
by its magical means. Time and space, which have
hitherto been the inipecEinenta to progress, are now,
as it were, banished from the earth. Next to the
Telegraph comes the Photographic Art, which
stamps the present, by a glance, on the wondering
but admiring countenance of the future. Then the
railway—that marvellous conductor which takes
the world in its warm embrace, and delivers it
beyond the reach of vision in the twinkling of an
eye ! All these are but mighty beginnings of a
boundless future pregnant with happiness to man-
kind. Really it would almost seem, judging by

...---0. .., „....,,,,.....—,--
what we see, as if 'the world wer'Conly in its
\ll boyhood,7rying with the toys of the universe.
Well then we have reason to be thankful in spite of
11 our manifold troubles—most of them arising
from our own folly and disbelief•in the wisdom of
the CREATOR whose beneficense is immeasurable as
it is inscrutable.

We have been favoured with a map of the greatest
wonder in this day of progressing intelligence— a
very large map of Europe with parts of Asia and
Africa, to which the lines of the Electric
and the International Telegraph Companies are
now extended. It is indeed a fine specimen
of Art, and a still finer exemplification of how
far the progress of mind extends with freedom
of thought—free trade and human improvement
all bound in one unity of good. It is, truly, a
marvellous sheet for contemplation !

There, on the whole face of Europe, we see the

lines of telegraph amply displayed, so far as the
march of mind indicates the progress of improve-
ment. And the more we gaze and scrutinise
sometimes in doubt, and then in questionable curi-
osity—we ask—how is this ? Some parts of the
map seem, to be peopled as with the busy
haunts of men, while other parts are
lost in the wilderness of ignorance. " There
is no mind, there, 'then !"—we exclaim, or if
there be, it has no local habitation or

Mr.-P~etiter'& office

a name. Yes, it may have a name,
but it is one even unknown to itself. As we scan
yet closer, we are struck with a singular group of
lines much resembling that of "the milky way" in the
glorious firmament above, clustering into a family
group of intellect, as compared to the wandering and
disfsnt strangers sparkling around, and far away
in the distance: Now what do these groups—for
there are many of them—indicate? Why, this—they
indicate that men, proud of their fatherland and
the freedom of thought vouchsafed to their kind
by good and wise laws, join together, and
by the fruits of their labour enrich not
only themselves, but diffuse, by a generous
example the benefits they enjoy to surrounding com-
munities. In surveying this map we see the spread
of intelligence starting, as it were, from the North
though we know that it came originally from the
South, but having lost its way in the maze
of progress, it settled in the North for
safer protection—and found
" DeF Albion next—
Thy free sea-girted Isle."
Well, then, taking a view from Scotland—over
England—across to Belgium—on to Dresden—and
taking a turn to Switzerland on to Northern
Italy Turin, &c. the line of commerce
if not the line of beauty yet that
of grace, seems to take its course in this manner

from the cold but hearty North, to the warm and
glowing glories of the South into the bosom of
Italy and the gulf of Genoa ! The regions on
either side those to the west are nearly as barren
as those to the east, not excepting-even France.
For, as to Spain, the lines are few and far between
and, as for Eastern Germany and its kindred wilds
of Russia, there is scarcely a line to be seen, save
where the despotic chord is the best emblem of the
Powers of darkness and superstition.
Well, then, Freedom has much to boast of, for
her votaries are the denizens of the earth,
and will be the harbingers of good to all genera-
tions yet to come.

A Cabinet Council was lield.on Saturday at the
official residence of the First Lord of the Treasury, in
Downing• street. The Ministers present were—Viscount
Palmerston, the Lord Chancellor, Earl Granville, Duke of
Argyll, Sir G. C. Lewis, Lord J. Russell, Duke of New-
castle, Right Hon. S. Herbert, Sir C. Wood, Duke of So •
nterset, Right Hon. T. M. Gibson, Sir G. Grey, Earl of
Elgin, Right. Hon. C. P. Villiers, and the Right Hon. E.
Cardwell.

The Duchess of Cambridge and the Princess
Mary have taken up their residence in St. James's Palace
for the season. Their Royal Highnesses have already re-
ceived numerous visits from the nobility in town.—Court
Journal.

- -
His Royal Highness the Duke of Cambridge en-
tertained his Royal Highness the Prince of Orange at dinner
on Saturday evening, at his residence in St. James's Palace.
There were present to meet the illustrious Prince—their
Royal Highnesses the Duchess of Cambridge and the Prin-
cess Mary, his Excellency Baron Bentinck, the Marquis
of Ailesbury, the Earl of Clarendon, Viscount Stratford de
Redcliffe, the Right Hen. Major-General J. Peel, Major-
General Sir Richard Airey, Count Bylandt, in waiting on
the Prince of Orange, and Col. Clifton, in waiting on the
Duke of Cambridge.

The Right Hon. the Speaker of the House of
Commons gave his first Parliamentary full-dress dinner
this session on Saturday evening to the following :—Vis-
count Palmerston, Lord John Russell, Sir George Lewis,
Mr. Sidney Herbert, Sir Charles Wood, Sir George Grey,
G.C,B. ; Lord Proby, Viscount Castlerosse, Admiral Lord
Clarence Paget, the Right Hon. W. Cowper, the Right
Hon. C. P. Villiers, the Right Hon. E. Cardwell, the Right
Hon. T. Milner Gibson, the Right Hon. Robert Lowe, the
Right Hon. Judge Advocate-General, the Right Hon. J.
D. Fitzgerald, the Hon. Henry Brand, Sir Wm. Dunbar,
the Solicitor General, Mr. Baring, Mr. George Clive, Mr.
Chichester Fortescue, Mr. S. Whitbread, Mr. Laing, Mr.
Knatchbull-Hugessen, Mr. Massey, Mr. Bagwell, Mr.
Sergeant Deasy, the Lord Advocate, the Hon. George
Waldegrave, and the Rev. Henry Drury. The Chancellor
of the Exchequer was Prevented by a severe cold from
being present.

It is stated that Mr. Hutt, M.P. for Gateshead,
has accepted the office of Vice-President of the Board. of
Trade, vacated by the Hon. Mr. Cowper, in consequence of
his appointment to the Presidency of the Beard of Works.

We observe that Mr. Woodin is now starring it,
with his " Olio of Oddities," at Southampton.
Lord Seaton resigns the command in Ireland on
the Ist of April, and Lord Melville that in Scotland at the
same time, but the statements which have appeared with
regard to their presumed successors have no substantial
foundation, no arrangements having been yet made respect-
ing the anticipated vacancies.—Army:and Navy Gazette.
According to advices from Nicaragua the Go-
vernment, by decree of the 13th of December, have annulled
the contract respecting the transit, entered into the 15th of
June, 1859, with MM. Belly and Thome de Gamond.

CHURCH-RATES.—Mr. Hubbard's bill allows dis-
senters to claim exemption from church-rates by notice to
the churchwardens. Such persons will not be qualified to
attend any vestry meetings. Church-rates will be levied
as before on these persons who shall not have claimed ex-
emption.
THE EXCAVATIONS AT BUDRUM AND CNTDUS.—
Further papers relating to the excavations at Budrum and
Cnidus, 100 pages in extent, were laid before Parliamenten
Friday. They will be interesting to antiquaries.
A most painful sensation was produced at Ver-
sailles the day before yesterday by the accidental death of
M. Richebourg, paymaster of the 4th Regiment of Hussars.
He was smoking a cigar at the window of an upper room,
when the hand rail on which he was leaning gave way, and
falling head foremost on the pavement he was killed on the
spot.

The Brussels letters mention that the Bank of
Belgium is expected to raise its rate of discont to 4 per cent.
next week.

The financial accounts from Calcutta by the pre-
sent India mail are only eight days later. The advance in
rupee paper has not been more than about per cent., and
consequently all that may have been transmitted will be
likely at our prices to yield such a profit as will encourage
an active continuance of operations. The latest dates to
hand front London were by telegraph to the 26th of Novem-
ber. It will be by the mail of the 10th of December that
the most favourable quotations will have begun to be re-
ceived.

with
pi. ennd si
India
on
trade, isannouncedof Mr. J.
in rithilrEsausstll. Cohn,
about 00,000. The state, liabilities. to the amount of
unsatisfactory. it is feared, will turn out
The supporters of Mr. Love
o
statement published respecting the cehalit end
that the
joint committe (nut the joint trete
committee)
of the East-
ern Counties, Norfolk, and Eastern Unioe
was incorrect. Their representation of the case Companies
committee, have to elect a chairman, was equallyr
divided,
that the
a..t.i that Mr. Bruce was therefore' appointed chairman
for
the day, under protest, it being agreed by all present to re-
fer the legal point to counsel fur decision.
THE AUSTRALIAN MAIL SERVICE.—The intelli-
gence from Melbourne by the present mail comprises a re-
vived complaiat of the irregularities of the mail service.
The English October mails were not delivered until nine
days after they were due. The despatch by the Peninsular
and Oriental Company of the Columbian once more to the
Australian waters, was complained of as the cause of this.
The Melbourne Chamber of Commerce have taken up the
question of the detention caused by the m
detourmade by the
mail steamers in calling at Nepean Bay, and have de-
spatched through the President of the Chamber, a letter to
the Postmaster-General, in reply to the despatch forwarded
from St. Martin's-le-Grand by the October mAus-
tralian Nail,

' •
rRE sir, toiNTDOI%. isiOsi)A3E- EV-Er(iNa-

Lrit T E S T-N E

The following telegrams have been received at
_ _

PARIS, SUNDAY.

In all the churches of Paris the priests, following
the orders of the Archbishop of Paris, read to-day
the last encyclical letter of the Pope.
The Archbishop has also ordered public prayers
to be offered until Easter, in order "that his Holi-
ness may overcome the tribulations and persecu-
tions to which the Church is now exposed. These
last words were taken from the nzandement, which
was also read to-day from the pulpit.
Yesterday Lord Cowley visited the Ambassador
of Austria, with whom he had a very long con-
ference.

ROME, SUNDAY.

Thl Marquis de Cadore, who replaces M. Sam-
pay as First Secretary to the French Embassy,
has arrived here with orders from the Emperor
to General Goyon, to take all measures for the
maintenance of public order.

PARTS, MONDAY.

The .Moniteui. contains numerous nominations of
Sardinian officers to the Legion of Honour, and
announces that 2,000 military medals have been
granted by the French Government to Piedmoitese
sous-off ciers and private soldiers.

BERLIN, MONDAY.

It is stated that France is disposed to withdrew
her troops from Rome provided the Pope consents,
and engages himself to call in no other foreign
troops. There are no negotiations whatever going
on concerning the cesetion of Venetia.

MADRID, FEB. 5.

The camp of the enemy before Tetuan has been
taken by the Spanish, after a glorious and 'complete
victory. A number of cannons and tents of the
Moors were also captured. The surrender of Tetuan
is imminent.

PARIS, SUNDAY.

A few days ago Lord Cowley communicated to
M. Thouvenel a project of the English Cabinet for
the definitive settlement of the Italian question.
This project contains the following points :-
1. The principle of non-intervention to be applied
in an absolute sense.

BERLIN, SUNDAY.

TURIN, FEB. 4.

OFF TETUAN, FED. 4 (via MADRID).

2. Venetia to remain apart from all negotiations
concerning new territorial arrangements, and to
continue under the Austrian rule.

3. The inhabitants of Central Italy to be again
invited to vote on their own Constitution. Should
they pronounce themselves for annexation with
Sardinia, the latter Power to be authorised to ac-
complish their wishes.

4. Sardinia to abstain from every measure des-
tined to favour the annexation until the new vote
of the Italian States has taken place.
5. France to withdraw her troops from Rome
and from the other parts of Italy.
M. Thouvenel, after having received the orders
of the Emperor, declared that before giving a defi-
nitive answer to the propositions of the English
Cabinet the French Government thought it indis- I
pensable to be informed of the ♦iews of Austria.
The courier bearing the reply of Austria is not
expected at Paris before the end of the week.
The Conatitutionnel, in an article signed by M.
Gran dguillot, says.,7—
" The report going the round of the journals rela-
tive to the annexation of Savoy and Nice to France
is but the result of a presentiment of public opinion
and a statement based on the logic of facts.
" The press has been struck by the attraction felt
by the population of Savoy towards France, and by
the justice of a measure which at the moment when
Piedmont is- to be singularly aggrandised would
give France a geographical frontier.
" But this unanimous tendency of the press re-
mains completely without official impulse.
" What Savoy wished for, what France desires,
does not appear doubtful, but what the Government
will and can do remains hidden under the veil of

FRANCE:

diplomacy.
" Those who assert that the affair is settled are no
better informed than those who say that it will not
take place.
" The Emperor is the scrupulous defender of the
essential conditions which insure and guarantee
balance of power in Europe, and will certainly not
allow it to be altered, either to his detriment or
tict of others."

The Western Powers, it is asserted, have pro-
posed to Austria, as a solution of the Italian ques-
tion, that the States of Central Italy should be
called upon to vote again concerning their annexa-
tion to Piedmont, and that the principle of non-in-
tervention should be recognised.

It is reported that Austria has declared her re-
solution not to abandon the basis of the agreement
of Villafranca ; it is also said that she will not pro-
mise an absolute non-intervention in Central Italy,
and that, should no Congress take place, she will
only negotiate with France.

The Opinione refutes the accusations of the Patric
concerning the conduct of the Sardinian Government
in Savoy. Sardinia has ever shown great confidence
iu Savoy and Nice, which have always justified it
by their exemplary fidelity. The Piedmontese
Government has left,those provinces without troops,
thereby allowing the inhabitants the free manifesta-
tion of their feelings. At the last communal elec-
tions in Savoy and Nice the party favourable to
separation did not obtain the majority. The idea of
nationality must not be forced upon peoples. In case
Sardinia should obtain sufficient compensation
and strategic :positions, and should the annexa-
tion of Savoy to France then be asked for, it might
be granted, but it is very difficult for Nice to be-
come French. Nice protests against it by her acts ;
her interests are also contrary to it. Therefore
these two distinct questions must not be mixed to-
gether. Sardinia is the friendly, loyal, and grate-
ful ally of France, but as long as Austria possesses
Venice the principle of Italian nationality cannot'
be developed. Austria will be a permanent threat
against Piedmont, and no Power would require
that Piedmont should weaken herself.

On Thursday the weather was extremely bad.
The sea has never been worse, and many ship-
wrecks occurred. The disembarkation of the siege
train has been completed.
The semi-official ( orrespondencia Aulografa
denies the reports that peace is about to be con•
eluded, and says :—" It is impossible to enter into
negotiations before complete vengeance has been
obtained by taking Tetuan and Tangier."

Yesterday Marshal O'Donnell announced to the
army that they would march against Tetuan. It is
believed that a great battle must have taken place
before the walls of that town, but no news has yet
been received.

• VIENNA, FEB.. 5.
On Friday last Baron Vay and Baron Pronay,

Great military preparations are being made, and
arrests continue everywhere.
General Hess has been pensioned:

PARIS, SUNDAY.

The Moniteur publishes the following report,
dated Feb. 3d, to the Emperor from the Minister of
War :

" Sire—ln conformity with the intentions ex-
pressed by your Majesty, I have the honour of
submitting to you a bill to the effect that the con-
tingent fixed by the law of May 31, 1859, for the
recruitment of the land and naval forces from the
class of 1859 shall be reduced from 140,000 men to
100,000. I beg your Majesty to authorise this bill
being sent to the Council of State for examination,
in order that it may be presented to the Legislative
Body at the opening of the next session. I am,
Sire, with the deepest respect, &c.,

" RANDON."
The signature of the Emperor attests that the
suggestion made is approved of.
THE BOURSE, Feb. 4.--The opening of the
market was buoyant in consequence of the nduc-
tion of the French army announced in the 3foniteur,
but prices afterwards again receded in consequence
of sales for realisation. Threes, which had im-
proved to 68f. 45c., declined to 67f. 85c. ; Mobilier
varied from 760 f. to 745 f. ; Lyons, 890 f. to 882 f.
50c. ; Orleans, 1,362 f, 50c. to 1,355 f. ; Southern,
505 f. to 4971. 50c. ; Austrian, 505 f. to 500 f. ; Lom-
bard, 505 f. to 545 f. The following are the last
quotations :-
4/ per Cents. .... 97 15 Credit Fonder 740
Do. end montk I Belgian 4}
3 per Cents . 67 851Piedroontess (5) .. 81
Do. end month.... 67 80, "ttoman 77 50
Bank Shares. 2BOO Austrian
Credit Mobilier .. 748 75 Spanish Threes
Do. Account ..... 743 , Flom Debt —