The Sun.
London, England, 1867-02-20 00:00:00

COMMERCIAL INTELLIGENCE.

CLOSING PRICES.—GoId, 136 k ; Sterling Ex-
change on London, 1081 ; 5-20 United States
Bonds, 111 f ; Illinois, 115 k ; Erie, 56.

ITALY.
MINISTERIAL CIRCULAR TO THE PREFECTS.

FLORENCE, Feb. 19 (Evening).

The President of the Council of Ministers has
issued a Circular to the Prefects of the kingdom
announcing the dissolution of the Chamber and the
convocation of the Electoral Colleges. It says—
" The late Chamber did not give proof of pos-
sessing all the elements which are necessary to
accomplish its task in a Parliamentary system.
The Ministry, influenced by the urgent necessities
of the State, and faithful to the glorious tradition
which reminds us that by one and the same pro-
clamation the accomplishment of Italian unity and
the promise of the liberty of the Church were an-
nounced to the nation, presented a bill for resolving
the question between civil and religious society."
The Circular proceeds to advert to the causes of
the late Parliamentary and Ministerial crisis. The
true motive of the dissolution, it continues, has been
to form a firm and compact national majority which
may give strength to the Government. Italy is
fatigued by sterile discussions. The weakness of
Government arising from the perpetual changes of
individuals and programmes, and the mutations of
Ministries, is the cause and principle of administra-
tive disorders. This can only be remedied by a
new Parliament. Tho present Ministry, neverthe-
less, consider it to be necessary to state their ideas
upon the finance question. They believe that an
increase of revenue ought to be sought in economy,
and the reorganisation of existing taxes rather
than in fresh imposts. The Ministry will present
the Budget for discussion immediately on the open-
ing of the new Parliament.
The economic condition of the different provinces
is of a very variable character, particularly as re-
gards means of transport, and we consider this
state of things as one of the most serious evils.
The bill for the liberty of the church raised
doubts which would have been removed had the
debate upon the measure taken place. The
Ministry could furnish explanations that would
allay many apprehensions that have been expressed
on this subject. Dark as the glorious destiny of
seeing the only political question still remaining for
her to solve, intimately connected with the great
social question of the relations between Church and
and State, the Government looks for the solution of
this problem in a fresh and ample application of
the principles of liberty.
In drawing up a new bill the Government will

take into account the verdict of public opinion on
the subject. The question of the liberty of the
Church is bound up with that of the
ecclesiastical property. Nothing is further
from the intentions of the Ministry than
the idea of rendering the Bishops arbiters of
the Church property, of depriving the religious in-

stitutinos of every guarantee of stability, and aban-
doning the inferior clergy to the power of their
ecclesiastical superiors. Italy feels the necessity of
a strong Government, and does not desire a hazard-
ous policy. It is, therefore, necessary that the new
Parliament should be composed of individuals ful-
filling these conditions." The circular concludes by
inviting the Prefects to make known to the electors
the intentions of the Government.

ESSEG, Feb. 20.

The Hungarian party in Sclavonia is fully satis-
fied with the nomination of the new Hungarian
Ministry, but the congregation of the province has
declared that it cannot recognise that Ministry until
the Croatian Diet has passed a resolution assenting
to its formation.

SPAIN AND THE ARGENTINE CON-
FEDERATION.

MADRID, Feb. 19.
The Epoca of this evening states that the press
of Buenos Ayres and Monte Video are in favour of
an alliance with Spain against the Republics.

MARSEILLES, Feb. 19.

The Messageries Imperiales steamer Said left
here to-day with 66 passengers, £58,680 in specie
for India and China, £17,000 for Alexandria, and
a full cargo of merchandise.

PORTUGAL.

LISBON, Feb. 20.

The Chamber of Peers has received unfavourably
the bill reforming the Ministry for Foreign Affairs.

NEW ZEALAND.

The following telegram from the Colonial Secre-
tary to Mr. John Morrison, Agent of the New
Zealand Government, has been forwarded to us :