The Liverpool Standard, and General Advertiser.
Liverpool, Merseyside, England, 1854-07-18 00:00:00

THE LIVERPOOL STANDARD, AND GENERAL COMMERCIAL ADVERTISER.

COJI.VERCI.AL

MONETARY

NEWS.

MONDAY NIGHT

THE Funds during the week experienced a gra-
dual but continuous decline, attributable in some
measure to the absence of demand for stock, and
apprehensions as to the effect of the unsettled
weather upon the approaching harvest. On
Saturday, however, the weather was all that could
be wished, and the Funds rose considerably, the
advance being also experienced, though to a less
degree, in the Share market. Money for commer-
cial purposes has been in fair demand, but no
alteration has taken place in the Bank rate of
discount. The country Banks have, however,
reduced the rate half per cent., and lower rates
have also prevailed among the discount houses.
The Bank returns of Friday show a decrease in
the stock of bullion to the extent of 2194,391,
but this is more likely owing to the few recent
arrivals of gold, and the payment of the dividends,
rather than to any great demand from the Conti-
nent. The most striking feature, however, is the
very large increase in Government Securities,
amounting to more than two millions and a half,
evidently arising from the Chancellor of the Ex-
chequer borrowing money on Deficiency Bills to
meet the dividends. There is also a large increase
in " other deposits," caused probably by the
receipt of the dividends.

In the Cotton manufacturing districts trade
generally has been very dull, buyers withholding
their purchases for a time. Some of this is no
doubt the reaction which usually follows a more
than ordinary activity, and the uncertainty which
has prevailed with reference to the growing crops
has also operated in the same direction. As stocks,
however, are short, there is no appearance of any
anxiety to sell. The Wool trade has shown no
improvement, and the gloom which prevails has
been rendered worse by several failures caused by
the long-continued decline in the value of stock.
The Lace trade is also very dull, but the Hosiery
has shown a better feeling, and hopes are enter-
tained of still further improvement.
It is not unusual to speculate upon the probable
results of the American Cotton crop, as an element
by which to estimate the state of the market here.
Recent circumstances have, however, shown the
futility of relying upon any comparison with
former years, as other elements, irrespective of
quantity, have had a powerful influence upon
Liverpool prices. The last two or three years the
American crop was unprecedentedly large, and yet
prices were well maintained, owinc, gr
eat
demand, the
demand, not only in this country, butr' on the Con-
tinent, and also by the American manufacturers.
This year the crop is not so large by at least ten
per cent., nor is the quality generally so good,
and yet prices have declined on all qualities, but
particularly on middling and lower ones. This is
owing to the warlike operations in the East, and
the uncertainty which prevailed as to their effect,
not only upon the extent of our exports, but also
upon the Money-market. The alarm as to the
former cause is now pretty well set at rest, and the
latter will not, as far as present appearances justify
an opinion, be so injurious as was at one time
imagined. There is also the apprehension as to
the continued high price of Corn from the unset-
tled weather affecting the growing crops, but as
the harvest has proved abundant in the south of
Europe, and the reports of our own crops are highly
favourable, the fears which prevailed have been
considerably allayed, and we may count, with
reasonable confidence, upon an improvement in our
market. It is true that stocks are nominally
great, but the bulk consists of the lower qualities
not adapted to our ordinary manufactures, but for
these inferior kinds a new demand has arisen by
their conversion into cordage and canvas for ship-
ping ; and as a check has been put upon the supply
of hemp from Russia, this new material may enter
largely into consumption, and rapidly diminish the
present apparently large stock.
There are reports of some failures in the mer-
cantile world, but, considering the _ enormous

amount of commercial transactions and the con-
fusion always created by a change from peace to
war, the losses have not been to any great extent,
nor is there any reason to anticipate difficulties in
prospect, as the rate of discount has no doubt seen
its highest, the demands for railway construction
are comparatively trifling, and the changes are all
for the better.
Considerable interest is of course manifested as
to the prospects of the coming harvest, and it is
gratifying to state that reports generally are of a
favourable character. Much will, of course, depend
upon the weather, which has assumed a more
settled appearance, and should nothing occur to
injure what has already reached maturity, the
Wheat crop, it is believed, will be a full average
one. The prevalence of this opinion is evident
in the general decline at the various Corn markets,
although holders are reluctant to sacrifice their
stocks as long as a chance remains of the farmers'
prospects being blighted. We cannot, however,
anticipate any very great reduction in value, as the
consumption is very large, and will be still further
augmented as business improves and employment
in the manufacturing districts becomes more
general.
The East India and China Association have just
published their comparative statement of the
number of ships, British and foreign, with their
aggregate tonnage, entered inward and cleared
outward from
.and to places within the limits of
the East India Company's charter, from the Ist of
January to the 30th of June in the years 1853 and
1854. According to the statistics of vessels
entered inward, the port of London shows an
increase of 75, with 31,916 tonnage, the difference
between 365 vessels and 205,186 tonnage in 1853
and 440 vessels and 237,102 tonnage in 1854.
Liverpool exhibits an increase of three vessels with
161 tonnage, the arrivals in the former period
having been 129 vessels with 77,319 tonnage,
against in the latter 132 vessels with 77,480 ton-
nage. The total increase presented is 89 vessels
with 38,878 tonnage, the difference between 548
vessels with 301,608 tonnage, and 637 vessels with
340,486 tonnage. The statistics of vessels cleared
outward present unfavourable results, owing to the
diminished activity of the trade to Australia as
compared with the corresponding period of last
year. In the case of the port of London a decrease
is exhibited of 93 vessels with 19,657 tonnage, the
difference between 472 vessels with 218,864 ton-
nage in 1853 and 379 vessels with 199,207 tonnage
in 1854. The return for Liverpool shows a de-
crease of 68 vessels with 123 tonnage, the depar-
tures in the former period having been 262 vessels
with 134,895 tonnage, and in the latter 194 vessels
with 134,772 tonnage. The net decrease is 189
vessels with 21,815 tonnage, the difference between
831 vessels with 387,991 tonnage in 1853 and 642
vessels with 366,176 tonnage in 1854. The depar-
tures for Australia, Cape of Good Hope, China,
Singapore, Calcutta, and Bombay exhibit the
principal falling off.
The return from the Bank of England for the
week ending the Bth of July gives the following
results, when compared with the previous week :
Public deposits £4,948,822; Increase £366,376
Other deposits ... 12,571,329; Increase 1,451,985
Rest ... 3,265,820; Increase 36,029
On the other side of the account—
Government securities £12.977,237; Increase £2,644,442
Other securities ... 15,920,198; Increase 830,203
Notes unemployed ... 6,777,420; Decrease 607,785

The amount of notes in circulation is £'20,521,240,
being an increase of £422,460 ; and the stock of
bullion in both departments is £14,021,207, show-
ing a decrease of £194,391,when compared with the
preceding return.

T H E W A R.

ISSUE DEPARTMENT

Notes issued ... £27,298,660 Governmt. Debt £11,015,100
Other Securities 2,984,900
Gold coin & bu11'n.13,298,600
Silver bullion ... ...

£27,298,660

BANKING DEPARTMENT,

£27,298,660

Prop. Capital £12,977,237
Rest •• • •• • 3,265,820 Other Securities 15,920,198
Public Deposits 4,948,822 Notes 6,777,420
Other Deposits 12,571,329 Gold & Silver Coin 722,547
7-day & other bills 1,058,431

£36,397,4021

£36,397,402

In our SHARE MARKET, during the week, we have
had some severe fluctuations. At the opening of
the market on Wednesday, prices declined, in
sympathy with Consols, nearly one per cent., while
the tone of the market was generally weak and
lowering. On Thursday the market again opened
with a depressed appearance, Londons receding to
102, Midlands and Leeds to 6:5. In the afternoon,
however, of that day some rather extensive pur-
chases were made, chiefly by speculators, and a
rally commenced which has proceeded until this
morning, when prices again appear to have come
to a stand—Londons had recovered to 105, Mid-
lands and Leeds to 672. This afternoon prices are
some half per cent. lower than these quotations ;
it is said from an apprehension that ministers may
be disturbed in Parliament to-night. The day's
business is quoted as follows :—Chester and Bir-
kenhead £22 shares, 6cl; Caledouians, 32* 4 ;

I sylw

The following is frorr

The beautiful principle of toleration was converted into
practice. The first parliament assembled in Poland was
in 1347, and thus the first foundation was laid of consti-
tutional freedom, whilst Russia was scarcely emancipated
from the yoke of the Tartar, under which she had been for
200 years. (Applause.) Referring to a map of Poland, the
lecturer showed the extent of country interested. Poland
was four times as large as the entire of Great Britain, her
boundaries extending from the Baltic to the Black Sea.
This geographiCal position was of immense importance to
Europe, for Russia could neverhaveencroachedupon Europe
without first taking possession of Poland, and we should not
have been engaged now in a war with Russia, if Poland were
an independent state—(loud applause)—for the map would
show them that she could not send her troops either to
Moldavia or Bessarabia without crossing the Polish terri-
tory. (Applause.) Speaking of the social character of
Poland, the lecturer then referred to her division into two
orders of the equestrian or nobility, and the second of the
peasants. Every one might become eligible to the first
rank who distinguished himself in the service of his
country, a facility which nourished patriotism and public
virtue. (Applause.) M. Zaba then stated that the 15th
and 16th century formed a splendid epoch in Polish his-
tory, not only in a political, but a literary point of view,
for it was then that his countryman Copernicus flourished.
Poland certainly could not boast of a Shakspeare, but she
could plead that she had added much to the common
stock of human knowledge. During the progress of the
Reformation, in the 16th century, the Poles had pre-
served a firm aspect, and they gave shelter to the perse-
cuted Protestants from every land. (Applause.) The
principle of toleration was embodied in her laws. Again,
in the 16th century, when rivers of blood were shed be-
fore freedom of Protestant worship was wrung from Charles
the Fifth, in Poland religious liberty was the law of the land.
Such was the moral sentiment that prevailed. (Applause.)
It was now impossible but that a people who cherished
the memory of their ancestors should maintain a sense of
national dignity, and evince the strongest attachment not
only to their national independence, but to freedom gene-
rally. (Applause.) M. Zaba then proceeded to show the
weakness of the elective form of monarchy, admitting the
dissensions to which it had given rise ; and then rapidly
referred to the later days of Polish history. Peter
the Great saw clearly that Russia could never rise into
political importance so long as Poland was an independent
state, but he was not in a position then to annihilate it by
the force of arms. In 1764, however, the first overt act
took place. Russia, professing, as she did now, interest
for one particular form of faith, succeeded in setting the
high Roman Catholic party against their brethren, then
stepped jin on behalf of the weaker party, and treated both
herself and ally to a portion of the Polish territory.
In 1772 Austria and Prussia, blinded by Russian wiles,
became instruments to aid in her aggressions upon Poland,
and by their joint agency was effected the first partition of
Poland. At that time Russia, politic as well as modest in
her views, contented herself with only a small share in
the spoil, giving the larger portion to Prussia and to
Austria. Still, under the influence of Russian counsels,
Austria combined with that power for the purpose of
partitioning Turkey. This was in 1789, and it roused the
jealousy of Prussia so much that she appealed to England,
and by their joint interference the project was at the time
suppressed. In 1791 a constitution was established in
Poland, by which the elective selection of the King was
abolished, and his office declared hereditary. Russia,
which had in the first instance intrigued for the esta-
blishment of that constitution, now affected sincere
admiration of it, and now insisted on the re-enactment
of the elective monarchy and of the liberum veto. The
constitution which was so obnoxious in the eyes of Russia
was eulogised by Fox, your eminent statesman ; and by
Burke, who declared that it was of unmixed excellence, as
it abolished both anarchy and slavery. Yet Russia dared
to stigmatise it in the face of Europe as inimical to Euro-
pean liberty. Russia pretended now to be so ardent an
admirer of the Polish constitution as it originally stood,
that she could not endure to see any of its provisions
altered or interfered with. Here again you see how dan-
gerous it is to trust to Russian treaties, as these are to be
found only on paper. Do not trust them. Take a hint
which has been furnished by the Emperor of Russia him-
self, and you will be safe—take a material guarantee.
(Loud and continued cheering.) In this new interference
the second. partition of Poland took place, but on this
occasion Russia took the lion's share. Then began the
miseries of Poland in real earnest, and these have been
so pathetically and so beautifully expressed by your own
poet, that no apology is necessary for introducing the lines
In vain, alas! in vain, ye gallant few,
From rank to rank your volleyed thunder flew !
Oh bloodiest picture in the book of time—
Sarmatia fell, unwept, without a crime !
Found not a generous friend, a pitying foe,
Peace at her death, or mercy in her woe I
Hope for a season bade the world farewell,
And Freedom shrieked as Kosciusco fell !
In 1807 the third dismemberment of Poland took place,
and then her independence as a nation was destroyed. On
all hands it is admitted that Napoleon committed the
greatest political. blunder in not having restored the
nationality of Poland before his invasion of Russia. In
1814 the allied powers entertained the most serious views
as to the necessity of having an independent kingdom in
Poland—that the question was openly and frequently dis-
cussed and insisted on. Mark the duplicity of Russia
here again ! She promised all that was suggested,
but she never performed any of the conditions, and never
meant to do so. Slavery was never an institution of Poland,
and never was permitted on her soil. It was carefully
provided against in her new constitution ; but that por-
tion of it which is now under Russia is debased by slavery.
Slavery is the characteristic of Russia ; wherever she puts
her bear's paw slavery is established, and that will be the
fate of all Europe if Russia is permitted to possess herself
of its soil. Non-intervention by the European powers,
and protection on the part of Russia, have been most
favourable for the ambitious views of Russia—(cheers) ;
, and by availing herself of them, she has succeeded in ex-
patriating the Poles. After twenty-three years of exile,
the Poles have been called upon again to plead the cause
of their country.. Hope seemed to smile upon their efforts,
and Poland, though bleeding and prostrate, was still able
to administer severe blows to her oppressor. (Cheers.)
A higher duty was now imposed on England and France
than merely preventing Russian advancement upon Turkey.
Upon them devolved the duty of so crippling Russia that
she may remain harmless. The safety of Europe could
never be established till Russia is confined within her own
legitimate bounds, and that could only be effected by re-
establishing the independence of Poland. The principles
of justice and the promptin,gs of self-interest both dictate
the re-establishment of Poland as a barrier against the
aggressions of Russia. (Loud cheers.) It was to be
hoped that the governments of England and France
would find it wisdom to move in the channels through
which run the streams of human happiness. (Loud and
continued cheering.)
His Worship the MAYOR said that the audience must
have felt much gratification in listening to the lucid lec-
ture given by: M. Zaba on the history of his country;
and M. Zaba, he felt also assured, would be gratified with
the patient attention which had been bestowed on his
numerous and able statements.
M. ZABA briefly thanked his worship and the audience,
and the meeting separated.

LATEST INTELLIGENCE.

VIENNA, July 14.—Despatches were forwarded to Lon-
don and Paris a few days since. They state that Russia
proposes to accede to the terms of the protocol of the 9th
April, as a basis for negotiations for peace, subject to con-
ditions. The Western Powers will now have either to
decide upon these conditions for peace negotiations, or
altogether reject them as too vague and unsatisfactory.

The Osservatore Triestine has advices from Constan-
tinople of the 3rd, confirming the fact before announced,
that the English steam-frigates had bombarded the Sulina
mouth of the Danube, and adding that the Russian guns,
soldiers, and commander had been taken.
Admiral Bruat's squadron, which has entered the Black
Sea, has on board 7,000 soldiers, with horses and artillery.
A considerable Turkish force is in occupation of Giur-
gevo, and display a determination to attack the Russians
at Frateschti.

General Brown's division, it was expected, had reached
Rustchuk on the 9th.

A letter from Varna, of the 2nd instant, states that
Lord Raglan had sent his cavalry to reconnoitre the
country beyond Kara-su. The Russians, it appears, had
evacuated that position, and retreated on Matschin and
Hirsova, where they were concentrating their forces, in
order to recross the Danube and abandon the Dobrudscha
altogether. It was believed that they intended to retain
possession of Galatz and Jassy.

BUCHAREST, Juar 13.—The Russian outposts have
been beaten at Frateschti, Sixty thousand Turks have
landed on the left bank. A

)attle is imminent at

tter dated Cronstadt, in Tran

?,—"W-2,r appears to have commenced, or