The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-05-06
F0 R E IGN.
THE MAILS OF THE ARIET, :.

the Europa at Halifax furnish the following items
Inc LeVlathan steamer will not be completed for |
sea before autumn. 1t is designed that she shall
make several trips to America and next sprinr en-
ter the China and Australian trade
The Servian Ministry have resigned, and the COM |
phcations are increasing.
Austria is concentrating troons on tho Sord;n;on
| frontier. |
Placentia is treated as in state of seige.
The d,oculty between France and Portugal rela- |
tive to me seizure of French vessel containing
emigrants has been settled.
change in the Ministry of Portugal is expected
steamship Niagara arrived at Liverpool on Mon
day. Steamship Vanderbilt arrived at Southamn
ton on Tuesday, April 20.
In the House of Lords, on Monday April 10 |
Lord Wensleydale asked if the Government intended
to refer the of the seizure of the Cagliari TO
the judicial Committee of the Council? He be-
eved 1T would be the best possible mode of obtain
ing an opinion on the subject. The Earl of NAL
mesbury would consider the suggestion made by
| Lord Wensleydale, but could not give definite
| answer.
| The question of the seizure of the Cagliari was
divided into two distinct parts. The first had an
exclusively English interest, being the detention
| and Imprisonment of the two engineers On that
point the law officers of the crown were unanimous
IN their opinion that the Imprisonment of these two
English subjects was illegal, and that the govern
ihent might demand compensation for what they
| had suffered On that opinion the government had
acted. A demand for such compensation from the
Neapolitan government had already been made
on the second question the legality of the capture
| OF the Cagliari the law officers were divided in
opinlon two OF them deciding that the capture was
legal, and one that it illegal. The law officers
OF the late government were also divided on the
| question. On this part of the proceedings there
| fore, it would be impossible, under the crcum-
stances, to take any strong measures. The Gus
toms bill then went through committee and the
House adjourned.
In the House of Commons the Chancellor of the
Exchequer brought forward his financial statement
After commenting on the change which the COM
mercIal prosperity of the country and of the people
also had undergone towards the close of last wear
he said that many changes had taken place since
the last Budget in the commercial position of the
| country. The American crisis had reacted on our
commerce. and caused series of failures which,
| whether the number considered, or the amount
| exceeded any within their memory. Our exports
which had been rapidly rising for a long time pre-
vlously, fell off regularly since the commencement
| ofthe crisis. Then came resumption of confidence
capital was now abundant, and the prices of the
nam articles OF life were cheaper than at this time
last year. Still, though the general condition of
the country was sound, they were not justified in
expecting that rapid recurrence of speculative spir
1t, which had done much for the Exchequer After
| these observations, he came to estimates for the
current year. He estimated the charge for the in
terest OF the funded and unfunded debt at f2S 4O0
| O0O; There was decrease in this item compared
| with last year, of fl50,000, partly owing to the
paying off of Exchequer bonds. He condemned
the practice of resorting to the exploded sinking
fund system to pay off loans, which should be paid
out OF the surplus revenue of the country. They
had to meet deficiency of e. 800 OOO and they had
| no surplus revenue. Under these circumstances he
thought they ought to repeal the act authorizing
tns war SINKING fund.- or else suspend it until the Ex
chequer Bonds were paid off; and this latter course
was the one he was prepared to recommend, for he
thought 1t would not be fair to place these debts on
the consolidated fund This would leave e. 500 OOO
to be dealt with. The right Hon. gentleman then
argued strongly against resortng to the income tax
as means of making the deficiency, thinking that
tax on income was not justiiiabe permanent
source OF revenue. 1t could only then be bv resort
ing to new tax that the deficiency could be met;
and, however disagreeable this might be, the par
ueS opposed to 1t must remember that, directly
indirectly, they proited by the reduced income tax
He proposed to raise portion of the deficiency by
an equalization of the spirit duties. They had been
equalzed with respect to Scotland, and Scotland
had neen @ gamer by the transaction.
ditferentia duty existed in favor of Irish spirits
winch he proposed should now be given up, and
from tins they would gain f50O,000 He expected
10 be thus enabled to make up the deficiency, but it
was desirous to have something in the shane ofsur-
plus, and this he hoped to derive from tax of one
penny on each check drawn on a banker. The re-
hn tbounbt u,orIJ 5oved abe Iooo,ooo, "i-;~i'
necessary for tbn ea T% taAaon co oon u,
600 womb ba tb1s ,,oda ~, a L " . q 90 con
bv nostnon;ro tb y sP Pci us too I,,oo'ooo
tIa 60 6On na6 l M iHiils luhu II ,ooo'0oV; ana
he on;Gated h 81 ne opo ProP0seo " should
a. - IocS' inca 'e VI 9i i'ooo;ooo In eacn Oh
that tba income Anu to ',a ne nopea py tnat me
| tbaro no,,iS In i A "oulu nave ceaseu' anu that
,nand;+,no ITt h % g oi pius vi revenue over eX-
seat an;d+ o,nnni geeteman resumed ms
| hon.
oonno,,t; eu, .
of tbo Cboon IN WLlch the proposltlons
a;nt f "nt;; vi Ihe h1chequer underwent
'iiety vi criticlsin, some OF them conflctng. The
loa Vi tie Splt auties was generally approved
tba tne M Tenpers); the postponement OF
20 ~ r pa" mn vi lle EAchequer Donos was objected
~ ~ one uenoers as III reaity re-borrowlng OF
alon?5 o these oonus, ana II was predicted that
Sta,,s aSsisuoe WouiG De onered TO the
dnctinn Of tbe euend;tmrc "i5ustone urged re-
II .o vi tnt eApenul1ere. MI. Cardweil recon-
q. IN
'a4 Sttiae itoiu D. nussel iamehteo that tne
ineht Vi She uepG incurred IN the late war should
Erehaoner ren,;pd 20 th iaot GanceiloE OF tne
nAGhequer repneu 10 the onlecuons MADE TO his
Budget, and insisting upon the accurate, though
temperate ana cautious principles upon which his
estnates OF the revenue ior the current year were
ioGriueu.
inc iesoiutions "eie theI az !eeu u anu oruereu
W oe reported; on tne 0rder LOT gong INTO COM
IN ittee @ Oh supply Or 1e Lacy Evans drew attention
70 ~ 'he ieeall oI b2rG o"ueh from the once OF brit
ish Munster at Madrld. lie ihought IL OF much
Importance that the policy we had pursued with re-
gard 10 SPAN should not DC retrogressVe, and, as
no cause hau Deen assigned ior the removal OF Lord
i, nioWoen, winch mad caused much regret throughout
tnat country, ne hoped the government would be
aoie 10 say that the cnange had not originated In
i3relgn court: MT. Fitzgerald SAID, there was not
Tue sghtest lstlncaCioh LOT any lnslnuatlons oil Sir
DE Lacy Evans, which were most unprecedented,
and II the course were to be followed the example
would be most dangerous.
Inc removal OF LORD Howden did not imply, and
was not intended to imply censure, and the manner
in which he had been recalled was not discourteous.
Lord Palmerston quite agreed that it expedient
that the advisers of the Crown should be at liberty
to choose their own diplomatic agents, but he did
not see the necessity of recalling Lord Howden in
so abrapt manner. Alter few words from Mr..
ker, the House went into Committee of Supply.
: short discussion arose upon the order for the
second reading OF the Government OF India No. y
bill, which was ultimately postponed. The re-
naming business having been disposed of the House
adjourned. T,
The Times says:-By the arrival of the Bombay
mail we have received graphic account of the siege
: OF LUCKNOW from the pen of Sour special cores
pondent: The telegraphic news received at Bonn
bay, which we publish from our Bombay correspon-
dent, completes the picture, with the news OF the
capture OF Lucknow.