The Portland daily press., 1867-11-05

| five. This body is to consist of two hundred
/ thousand men. Volunteers win be accented
| in this class, but the great bulk OF the second
| class militia will be drafted. They viii be
| drilled on the same principle as the volunteers
| are now drilled-that is, certain number OF
| drills every year, and they will be paid as
| the volunteers are now paid, fixed sum Tor
the year. Their clothing and equipments 70
| be furnished by the Government, and all to
be armed with mimic rife, which the vollln-
| teers have hitherto used. The third class
will be composed of men able TO bear arms
between the ages of 45 and go, and will con-
stitute a reserve force, to be called out only
on some great emergency. .1 i1u syfif -,a.
The idea of the Canadian Government with
it's present or prospective resources undertake
ing tc arm, drill and clothe quarter of
million OF men is slightly absurd, but youth is
confident, and our neighbors feel capable OF
great things. sls, ~ ,,...t..'.,.
THE BANK EXCITEMENT, ,r....i. .
Still continues in Canada, although the
panic has subsided. There seems to he a
general want Of confidence in the leading
banks, not SO much in their solvency and
present ability to meet all demands upon
them as in their general management They
have been gradually drawn into the whirlpool
of railway and other litieo-comlnercal
speculations, which have swallowed up their
resources. Tho Commercial Bank, which
failed the other day, ;, had become in an indi-
rect way a contracting capitalist 1t did
not actually advance money for the building
of railroads. but it took collaterals," :" the dis
count going toward railroad subsidies. The
| Provincial railroad magnates managed TO
draw on it to inordinately liberal amounts,
which were not repaid. Expensive lawsuits
resulted, and one way and another about
two millions of dollars had been sunk in this
kind Of business alone. The bank had also
lost much of the legitimate patronage OF bus
mess men by allowing itself TO be used as a
party and political concern. as a50e tl....d.
Last week deputation representing the
various western banks, visited Ottawa and
had an interview with the members of the
| Government with reference to financial mat
tiers. The Toronto Globes dispatch says:
The bankers submitted to them their pro-
gramine, and lengthy conversation eIsued.
The points pressed ON the Government were
Il that the Bank of Montreal should be required
II
they are issued, whether at Toronto or Mon
treal, and that the Bank OF Montreal should
/ only be permitted 10 demand settlement of
balances from the other banks at the places
where it redeems Provincial notes. The bank
ers we're promised a great deal more than win
i likely be performed. However, it seemed to
have the effect of putting them in better hl-
NOR IL is saId that the Question will be CON
sidered in Council. and it is expected that
Ministers will change their policy in conse-
quence OF the crisis il has produced I
% 1t should be borne in mind that new sys-
TEN OF government financial agency has late
ly been introduced into the Provinces. and
| the change has doubtless something to do with
the present disturbance. This system has
| been described as "a cross between the Bank
OF England and our National Bank SYSTEM
! They have a Provincial currency issued
| through the Bank OF Montreal, which viii
naturally in time supersede the issues Of the
other banks, lunless the act should be repeal
| ed. All the Government moneys now 20 in
| to this bank. All their financial business Is
done through it. 1t is strong, commercially,
and has got such headway. that competition
| with it must be exceedingly difficult. e
At the same time the system has bitter op-
ponents, and, good deal of animosity toward
| it is anticipated from the maratime Provinces
as it makes their Customs contributions to
the Confederate Treasury so much tribute
paid into bank, from which they can derive
| little accommodation for commercial purposes
INTERESTING BOOK SALE.
| A book sale OF more than ordinary interest
is to take place in Montreal this week. The
magnificent library of the late Lord Plunket,
Archbishop of Tuam, is to be offered at auc-
ton: Tho cinse-printed catalogue OF only a
o. these books fits six long. .,,,,,,,,
OF tne' " montreal Herald, many OF aI.e
works enumerated are OF great value .sVislhel
Shakespeare i'm this collection cost, according
to Mr.. Boydell's statement in the preface,
considerably over one hundred thousand
pounds sterling. The Macklin Bible cost the
subscribers G100 sterling. The history of
England and Cooks voyages about $40 ster-
| ling. There is set OF Blackwood's Magazine,
one-ot the few copies containing the celebIat-
ed "Chaldean manuscript" which ON account
of its severe satire on the eminent characters
OF the day, and irreverent imitation OF Scrip
ture language was afterwards rigidIy suppress
ed, and now commands high price. Many
valuable cyclopedias and dictionaries of arts
and science are also in this collection as well
as many beautiful and rare illustrated works.
The ST. Croix Courier comes to us this week
enlarged by the addition of four extra col
umns, and otherwise improved. 1t now
claims to be the largest newspaper in the
Lower Provinces, and is neat and hand
some sheet. " n3 t# a
The City Council of Halifax refused to vote
an address 10 General Williams on the oeca-
sion of his departure. An address was pre-
sented to him by large number OF pc ople
however. The st. John, b., Globe, COM
menting on the fact, says: "From an Impe
rial point of view, General Williams has been
good officer. He carried out the instruc-
tions of his employers after The most remorse
less fashion !; and followed the wishes of the
Home Government regardless entirely Of the
wishes OF his fellow ceuntrymen of Nova
Scotia, by majority OF whom he win be long,
and deservedly held in exeeration." rs 1n
The Courier de ST. Hydcinthe says that re,
crnits for the Papal Zouaves are being enroll
ed throughout Lower Canada.
A Toronto paper says that nearly all the
militia Of the province Of Ontario are now
armed with Snider rifles. Thirty thousand
of these have already been imported into On
tario and Quebec, and more have been sent
from England and are now ON their way
The men are generally very much pleased
with the new weapon, and excellent shots
have been made with it at the fall matches.
| The citadel of Quebec is now deemed i'm
pfegnable. 1t has over eighty guns mounted.
and many others on hand. 1t is supplied
with seven years provisions for five thousand
men.
The Hon. and Right Rev. Jno. Strachan,
Bishop OF the Church OF England, died at
Toronto, yesterday morning, aged eghty-nine
years. He was intimately connected with
the affairs of Canada, ior nearly three-quar-
ters of a century, and was the oldest Bishop
Of the church in the world. V
The Royal Canadian bank has received a
helping hand from the Ontario Government.
The Treasurer of The Province announces
that all payments on accou..t of the local gov
crument are to be made to the above bank
and its agencies. .-
p. Recent Publications. -....