The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-01-25

the imperial patent.
TURKEY.
MARsEILLEs, Jan. 5.-Constantinople letters to
December % confirm the sudden dismissal Of XII
brisli Pacha, and affirm that it was caused by his
demanding settlement of the debts of the seraglio
and the harem. Ruchdi Pacha has been appointed
Grand ViZier, and Aali Pacha has succeeded him
as President of the Tunzimat. 1t was believed Me-
hemet Kibrisl Pacha would soon be re-appointed
Grand Vizier. The friends of reform were dspirit-
ed, although Ruchdi Pacha has the reputation of
being a'reformer The new Grand NiZier had dis
patched note to the Powers, expressing his APP
proval of the SueZ canal scheme, should they come
to understanding on the subject. NJ. de Les
seps preparing to leave Constantinople
THE WAR IN MOROCCO.
On the 10Th the Spanish squadron burnt and
blew up the forts at the mouth of the river of
Tetuan The troops in perfect readiness to con-
tlnue the military operations Two tribes, not
wishing to continue the war, have withdrawn to
their mountains.
MADRID, Jan. lon Friday evening the Moors
vigorously attacked our encampment, but were re-
pulsed with great loss. The Spanards displayed
great bravery; their loss, however, was not con-
siderable forward movement of the army was
expected shortly. The rumor that peace had been
concluded is altogether false.
MADRID, Jan. AFTER glorious engagement
the Spanish army, commanded by General Prim,
has defeated the Moors on the whole lipe,.and adj
vanced as far as Casillejos. The hussars executed
several heroic charges, and captured flag. The
Moors We're 40, 900, and lost at least 1,500. The
spanish loss was 4UO to GU. The greatest enthu-
siasm prevails in the army.
The action on the 25th December was the sever
est yet fought. A Spanish General jumped from
his horse and led his against the enemy's posi-
tons, and took them at the point of the bayonet.-
The dead bodies of SO Moors were found on the
spot.
Ten Spanish ships had been ordered from Havana
to Morocco.
The Spanish army was to be raised to $4,000
men.
Battaons of Spanish infantry were march
ing overland to Agesras, there to embark for
Ceuta Up to the Both ult., the Spanish casualties
were6, 000
The Madrid journals of the 31st ult., state that
the Spaniards had constructed five solid redoubts
before Ceuta, aud armed them strongly with ar
tlllery. In a combat on the Goth, the Moors, for
the first time, made use of a cannon, but their
balls fell short
A letter from Madrid. dated the DIST ult., says:
''The army in Africa is about to be reinforced by
three brigades. This new augmentation has caused
much dsquetude, as it shows that, if the war lasts
much longer, the strain the financial and mill
tary resources of the country will be considerable
Unfortunately, the large forces of which the En-
perOr Of Morocco disposes, and the news received
from the interior of that country, appear to render
indispensable still larger sacrifices than have yet
been made As to the force of the Moo"s, it con-
sists not only of the army which is combating the
Spaniards in the neghborhood of Ceuta, but of
three irregular corps d'drmec, each commanded by
the brother of the Emperor, and of the troops,
.
who raised the standard of revolt, but who has
since made his submission, had collected. In this
war it appears that the irregular troops, instead Of
arming and paying themselves, are armed and paid
by the Emperor. There are, however, two circum-
stances favorable to the Spaniards-One is that the
regular troops, whom they call Moros del Rey, are
far from displaying the same bravery and tenacity
as the hasavage tribes of what the Spaniards call
the Sierra de B~tones. In the affair of the 10th,
for example, the former showed hesitation at the
first discharge of cannon, and retreated much
sooner that the latter. The other favorable cir
cumsance is that the Spanish troops incontesti-
bly, superior to those of the enemy
COMMERCIAL INTELLIGENCE.
LONDON MONEY MARKET.-The change in the French
Ministry caused temporary depression in the English
funds, but fall of 8d4 per cent. speedily
public.
On the 9th. the market rather weaker and
closed, officially at 95Hd955, although after official
hours business was done at 95%M95A account, eX-
dividend.
Money continued in good demand at 24 as per cent.
The Australian adyces report the shipment of $500 900
in gold, for England, by sundry sailing vessels.
The bank returns for the week show decrease of f39
$50 in the bullion.
Barring Brothers quote bar silver at dollars at
I'd, eagles at 76s sgd.
AMERICAN SEcUEITIEs.-Messrs D. Bell, Son & Co. re
port follows: The market American securities gen
orally during the past week has been active The chief
feature has been unusually large supply United
States five cent bonds The offered for sale
has been reduced by considerable purchases and
the price is now steady at 924 to 92H. In railroad
securities there is no particular change Panama seven
per cent sterling bonds continue demand improved
quotations
LIVERPOOL COTTON MARKET-The circular Of Geo Hope
Co., of January g. The cotton market throughout
the week has been quite steady, firmly supporting the
quotations given in last circular indeed in
stances, slight advance upon these have been paid
for the mddng qualities of Americans but this is hardly
sufficiently general to necessate any alteration in
quotations We quote mddling uplands 6Hd., Mobile
l5Gd, Orleans 6Bd The Committee of Brokers quote
fair uplands at I'D, Mobile 72sd., Orleans 7Hd.
me demand for Brazs has been good, but the inquiry
has been freely supplied and prices quotaby a
fected Egyptian cotton has been in fair demand at steady
prices. There is little of novelty in the American &c
counts; the receipts continue very large scale the
total increase upon the corresponding period in last yea
now amounting to nearly 10000 bales. 1880 American
are reported to have been taken speculation; G39l
American, $40 Surat 200 Madras and 80 Pernam for
port so that the deliveries to the trade for the week have
been about 53 700 bales