The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-24

dmust menus. IneTe IL an drcneTy grOuuO, Which,
10 occasionally visited by the Empress, and pre-.
sumo other ladies', for l observed several wrist
shields, padded with crimson satin scattered abou.
with bows and arrows, showing evident signs oil
grounds and before the grand facade Of the palace,
were party OF gentlemen, pigeon shooting, whilst
Others were stroliDg about the walks and the cee-
brated be1ceau, built by the Emperor Napoleon l.,
stag hunts in the forest. On these occasions the
spOitsDen are dressed in the costume see repre-
sented in the bunting pictures of Louis XIvs period
and Of which most continental royal picture gale
RES afford an example. The Emperor and Empress
have both assisted at these sylvan amusements and
have been told by those who witnessed them they
presented many picturesque incidents. The cavalry
regiments have also amused the Court party with
deeds Of proves; SO that there cannot nave been
any lack OF out door amusements. The guests are
lodged in various parts Uf the palace, the name
Of each being placed on the door. His Majesty and
the Empress dine with their guests about seven
rally present. In the evening the dra wing rooms
are open TO all. There has been more than one
theatrical representation; that of last night was
perhaps the most numerously attended. The EN-
the centre Of the pretty little theatre; behind their
Majestic and on the right and left, the vsiters at
the palace, and those honored with special invita-
tons, were seated-tbe gay toilettes Of the ladies,
and ms the aaS nsHs Of military forming an ami
can Prince, who was on q visit to Compiegne.
sat beside the Empress, whilst on the right Of
his Majesty was placed the Princess Mathilde.
Round about the imperial group we're seated
Marshal Pelssier, with short gray hair and heavy
eyebrows, looking the old soldier; Lord and Lady
COwley, the Duchess Of M0ntebello and many OF the
foreign ministers and their ladies. The company Of
that Of the Toilettes" appearing to give the great
est satisfaction TO the audience The entertainment
lasted until IL o'clock, when their majesties with
drew, amid the cheers Of the company to the draw
apartments; they are simply furnished with ele-
Pance and hung with tapestry, Of which remarka-
bly, fine specimen occurs in the apartment now occu-
pied by the heir to the Tuscan throne. The EN-
peror and Empress both look remarkably well, and
appear to treat their guests with simplicity which
must make every one feel at home."
On the Sth the vsiters will leave, and their Maes
ties will return to Paris on the 9th The following
Is Inst Of those who have been honored by an invi
His Imperial Highness Prince Jerome Napoleon,
Prince Napoleon, Princess Mathlde, the Papal Nun
clio and the Foreign Ambassadors, the Minister Of
France-Magnan, paraguay d Killers, Due de Mala-
kof, Canrobert, and Bosquet; Generals Camou, Fo-
rey, Morris, de MMahoA, Uhrich, Korte, de Bour-
gon, Melnet, de Ladmfrault, lie Prince de Beauvau,
de Caumont La Force lie Marquis do Caulain-
court, lie Comte Frederic de Lagrange, lie
Comte de Wendell, le Baron Hallez Claparede,
Mesieurs. de Rothschild. MN. Alfred de
", MeyeIDecT, horace VeTneI,
Eng. Issbey, &c; the Marquis Of Hertford, le Due
dOssuna, lie Comte Sclafani, lie Prince de Croy &C..
Lady Cowley, Ia Marechale Serrano, la Comtesse
De Hatzfeldt, Ia Marquise de Vilamarina, Madlle.
de Hubner, la Comtesse Sclsfani, Madame Fouid,
Ia Comtesse Waewsks, Madames Magne, Rouher,
Hamelin, Rouland, Troplong, Baroche, Ia Marechale
Magnan, MadlIe. Louise Magnan NADIA me Amirale
Bruai Ia Duchesse dlstrie, Ia Princess de Beauvau,
court Ia Princesse Poniatowski, Ia Baronne Hallez-
Claparede, Madame Ia Comtesse de Wendell, les
Danes de s. N. Plmperatrice, les Officers DIES Mai
SONS de Leurs Majestes, &c.
The Monetary Crisis In Europe.
FRI m the London Post, Nov ]
There appears now TO be every reason for enter.
tsining q confident hope that the country will
struggle through the monetary pressure OF the pre-
sent year without being involved in extensive
failures, or in distress and commercial difficulty
Should such be the happier issue Of the preeut state
Of things, while IL affords satisfactory evidence Of
the soundness Of the rapidly increasing export ant
import business of the the country, it will, we trust
carry to those who still hesitate to touch the system
ls44, conviction of it's insuficiency controller Of
circulation, and Of its mischevious influences upor
commerce in its character Of q banking establish
ment; and we will even hope that the circumstances
OF 1856 may convey lesson to the theorists who 70
ceive it as q sacred tradition, and defend 1t with
blind and unreasoning faith. Surely, IL anything
were wanting to prove that our monetary system, a
constituted by the Bank act Of 1884, IL not adapted
TO the commercial systems Of the kingdom the wan,
is abundantly supplied by the circumstances Of TIKI
In order to make these circumstances stand on,
clearly TO the public eye from those which surround
them. we must be permitted to carry our readers
back with u.s. not 30 far ~ the great crisis Of lS47
the circumstances Of that were very peculiar and
exceptional-but as far ~ 1852, when again cam
menced, independent Of any Of the influences Of ls47
series Of annual crises, which still ID progress
ard viii only end. we believe, with the Act of 1874
One OF our greatest objections to the policy aud
Ran n m nd III he M in oh
II attempts TO control Che circulation and direction
of money by the creation Of sudden and violent o.
citations In the rate OF interest," without regard u
any circumstances whatever, save the maintenance
Of what 1t conceives TO be the position aimed at BY
the authors Of the ys stem Of ls44; and one Of on
objects Is to show the public that this ia not legt
mate mode Of obtaining the results contemplated
and that i produces evils Of 2 magntude 70 which
far a. the country u concerned, must ever be utterly
Il was formerly the practice Of the Bank Of Eng
land, an It Is sll Of the Bank Of France TO discount
at q rate nearly uniform, 30 much 80, that from
1854 to 1874, with the exception Of the year 1889
when for few months the rate was raised TO six
per cent, discount was never less than -four, and
never more than five per cent In 1874, after the
passing Of the existing Bank Act, this system va,
abandoned, and minimum rate, fuctuating from
time 30 time, was substituted for the uniform and
nearly fixed one which had been In use up
70 that time. The primary. object Of the new
the foreign exchanges, and through them over the
iDHux and effiux Of gold into and out 81 the king
dom; the secondary one was to enable the bank TO
exercise q check upon unsound monetary transec-
tiops and extrsvagant specuatons IL has failed Ia
do this, and has only succeeded In prodl dng state
Of chronic apprehension and regularly recuncnt
periods a panic.
In he space between the Inauguration Of the new
policy In September, 1874, and the month u ocso
Der, ls47, the rate Of interest was altered by the
bank fourteen times, upon q scale beginning at two
and half per cent and rising TO eight, and ak o.
tbeee alterations were made within q period Of
ten weeks We all know what came of this
and We ell remember how it became ne.
useary 70 suspend the act at Q moment when.
sssS ,s al so Ho ouss, % haze "a. been e.
tbst time. We viii be content 70 regard that a.
time OF singular and hard trial, and we will look
forward TO later years, when the bank may fairly be
supposed TO have learnt iS lesson, and have become
able 10 calculate the results likely to be produced by
tn action and especially by IN action upon the value
OF money. Well; what DO We fRd IN these Subsequent
ycarsl Do We find greater steadiness In dealing
with the rates Of interest? Not ct all. We Hnd .
repetition Of the policy which before had done ~