The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-05-27
Foreign News:
THE WAR NEWS.

tnS ..dOhoon ItDeeS, m SUMMARY view
troops are massed along the frontiers.
Austria is& bringing into the field every
man she can raise, and it is enough to. say
tne wnole nation is painting for war. There
and England with Austria with the view
TO avert an outbreak, but nothing an.
thentic. ~"
The latest Florence papers regard war as
isetitaDie, and say that by a modification
OF the MiRistry about to take place Ia
Mamora will receive the military COM
mand.
The Italian Chamber Of Deputies passed
6y a vote of 203 to 4S, a bill granting the
government extraordinary powers to pro
safety.
Expectation of horses is prohibited from
Italy. Offices for the enrolment of yolun-
tcers have been opened in Florence and
other cities.
Italian municipalities continued IL, vote
rewards and pensions to soldiers who shall
have distinguished themselves, and at M as
sina the sum of SO, 900 francs was voted for
the crew of the first Italian man-of-war
that shall take distinguished part in ope-
ratlons against Venice.
1t is stated that Prussia. in reply tn tho
Austrian despatch Of May 4, relative to the
duchies, expressed willingness to enter into
1rcsh negotiations upon another basis.
since that now proposed was not suitable
for starting point.
Another statement is that Bisno a RI, had
declared to the Austrian Ambassador that
no would only accept the solution OF the
question of the duchics from q German
Parliament.
The Bavarian Government had ordered
the immediate mobilization OF the entire
Bavarian army.
A royal decree was issued ON the 10th of
May, dissolvinG the Chamber Of Deputies.
Ihls measure was proposed to the King by
the Ministers, i'll order that fresh cleo
tlon without delay might develop the real
feeling Of the Prussian people. 1t was
thought this might delay the outbreak Of
war.
An attempt was made to assassinate
Count Bismark us he was walking in Berlin.
The assassin fred several shots from a re-
volver.. Bis,nark received only slight
confusion. The assassin was arrested. but
committed suicide in prison.
Some days previous to the sailing of the
Cuba, Napoleon made a significant speech
at AnHerrc, in which he said he detested
the treaty OF 1915. The Paris Bourse has
accepted it as a signal for war. Severe
panics had set in. Rentes fell two per
cent
In the House of Lords, inquiry was
made ii the English Government had ten
tered its mediation in the German Italian
difficulty. Lord Clarendon said the Go
that Englands good Offices would be freely
rendered if desired, but the result was dis
couraSing, and England could do nothing
alonc. Ho feared the consequence, now
that million men were armed and ready
for action, and he denounced the war as
unjustifiable and without cause.
TIE FINANCIAL PANIC IN ENGLAND
On the following morning after Overland,
Gnrney X Co.'S suspension, (Fridav, Nav
10 intense excitement prevailed in the
financial circles Of London, Liverpool and
other centres, and business was almost
suspended. :
At Manchester, there was q complete
pause.
At Glasgow, the iron brokers resolved to
suspend business till Monday.
The effect was to reduce the Bank OF
reserves by nearly 5000, 900.
This diminution and the prevailing distrust
justified the Government Intervention.
The Bank OF England's charter Act was
by the Government
The action OF the Government vas an
Friday at midnight, by Mr.. Gladstone,
who had been engaged all the evening in
with bankers and others.
who represented to him that the panic in
the cl;y was without parallel in the tinan-
cial history OF the country.
Mr.. Gladstone said he had addressed @
letter to the Bank Of England to the effect
that if they should find occasion to afford
rellef To the wants OF legitimate commerce,
and make such advances as would require
he Issue of notes beyond the amount al
lowed by Act, the Government recommend
cd them not to hesitate in doing so, and
in the event of that emergency,
to make immediate application to parha-
ment for an Act of indemnity.
The London Times, in an editorial, says
if anything can justify the suspension OF
the Bank Charter Act, the panic which
swayed the city to and fro on Friday, May
II, may excuse the stop although we be-
hcVc the reign OF terror was approaching
its end and would lave speedily ceased
had no infracticn of the bank law been
permitted. Even now it is probable the
license allowed to the bank will not be
used. 1t cannot. however, be denied that
about midday yesterday the tumult be-
came q rout. Tho doors of the most re-
spectacle banking houses were bcseiged,
more perhaps by mob actuated bv a
strange sympathy which makes and keeps
a mob together than by the creditors of
banks, and thronGs heaving and tumbling
about Lombard street made that narrow
thorouShfarc impossible. Such excite
ment on all sides has not been witnessed
since the great crisis of 1925. Each man
the suspicious OF his neigh
Dor, and until 4 report, at that time un-
WAS circulated in the afternoon
bank directors to issue 5000. 900 additional
in notes, it seemed as if the fear and dis
trust of the commercial world had sudden
ly become boundless. The statement was
basclcss ut the time, but served to allay
the panic, which had no solid foundation.
Tho SbojI,yvillo rNap, yT,;<.., <>f