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Leader (1850-1860), 30th April 1859, Edition 2 of 2, Page 10, .—^ PRANCE. Paris, Thursday, 6£ p.m. THE...

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      Cimra. Letters Luvvo Been Reeoivod From ...

      ¦ until the arrival of Mr . Bruce , who , it is to be hoped , "will give his early attention to this important matter , lord Elgin expected to meet Mr . Bruce at Singapore , after which he was to go to Bombay in her Majesty ' s steamer IPurious , and thence to iEngland . Sir Michael Seymour also is coming home . The gunboat expedition returned to Canton on the 3 rd last ., after a successful journey of . 195 miles up-the ¦ western branch of the Pearl river , as far as the large

      town of "Wee-chari , in the province of Kwangsi . No opposition was offered by the Chinese , but , on the contrary , great politeness was . shown in some instances . The river is described as easily navigable , and flowing through a fertile country ; but the de-Tastationb by the rebels have almost annihilated the liative trade . Bands of these banditti appear to be in-r festing various parts of Southern China . Amoywas ¦ threatened a short tune ago , and they are now committing depredations in the country around Swatow .

      £54 Fhe Iildlb; . [Mo, 475, Apbil 30,185...

      £ 54 fHE iilDlB ; . [ Mo , 475 , Apbil 30 , 1859 .

      Japan. Her Majesty's Steamer Inflexible ...

      JAPAN . Her Majesty ' s steamer Inflexible returned to ttong Kong-, from Japan , on the 4 th March , having delivered atYeddo the letter from Lord Mahnes"bury to the Japanese Government , and also distributed copies of the notification to the British ships in harbour , and left other copies with the ¦ Governor ^ to be disposed of hi like manner .

      Cochin China. An Encounter Took Place: A...

      COCHIN CHINA . An encounter took place : at Turon , while the main body of the French and . Spanish troops were absent at Segon . The result was the . defeat of the Cochin Chinese with considerable loss , and only fifteen or ' sixteen wounded on the other side .

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      .—^ Prance. Paris, Thursday, 6£ P.M. The...

      . —^ PRANCE . Paris , Thursday , 6 £ p . m . THE WISDOM OP NEUTRALITY . If a proof were requisite of the wisdom of England abstaining from all interference in a war upon the Continent—a war which has not for its object to establish either the national independence of Italy nor the personal liberty of Italians , nor their release from the odious despotism of Papacy , but which is simply undertaken to decide whether the tyranny of Austria or that of France shall preponderate in the Peninsula—the proof / would be found in . the undisguised vexation and annoyance of the war party here at Lord Derby ' s energetic reiteration to observe a strict neutrality . To say the truth , Lord John Russell's declaration to the electors of Xondon , couched in similar words , has given still greater offence , and the hope is centred in Lord Palmerston . . His jaunty lordship is expected , should he arrive to power , to enter upon a crusade to expel the Austrians lrona Italy to make room for the advent of French domination ; and he is thought to be disposed to this act of gratitude for the gracious reception he met with at Compeigne when he played at nvummers with the juvenile entrain of sixteen . No epithet is too harsh for the JDerby cabinet . They are accused of being clumsy , stupid , and . even dishonest . Blame from such a source s testimony to their prudence and their patriotism ; not but what I fear Lord Malmesbury has acted very foolishly , and in an undignified manner anerit a certain Setter which , he is saidT to have written , and which is ostentatiously exhibited by his friend in the Tuileries . Your readers will not suppose that I have any particular affection for the Tories , but it is no more than just thjit I should bear witness to their policy When they rise superior to P ^ rty , and stand forth as English statesmen , jealous or the honour and welfare of their country . When the last proposition for peace wns received from England there were waitings and gnashing of teeth in theTTuileries and Palais Royal , It Tjecame evident thnt neither Whig nor Tory would enter into an entangling alliance with France to servo Imperial ambition , or to draw the chestnuts for tho others to munch . The Crimean war has borne its fruits . It proved that we bad no real allies upon the Continent , any more than that we had any real interest in the maintenance of this or that Continental tyranny . Nevertheless , an attempt -was made to entrap England into an alliance . Tho French cabinet proposed to accept the last English proposition , provided that , if England's negotiations for peace did not succeed , sho should tako sides , ) with JfrancQ og-ftlnst Austria , I rejoico to eay that this wJJy manoeuvre has failed . ¦ I should not be surprised If , after all , tho armed neutrality of Englnml did prevent war , or wns to compel a fr oxnpt pcaeo . For . as both Franco and Austria Huncy hat In { ho end England ' s sword will bo thrown into tho scale , and are In Ignorance on which side it will ponderate , they nro now only anxious , France particularly so . It is folt that when tho bolUgeronte have spent thoir xagq , thinned their populations , and exhausted their 'treasures , England even alone , and all the more so If . she » tanda at the head of a league * of armed neutrals , will be able to impose whatever conditions in hor wisdom sho » % y deem , fitting , and be able to oxpel both Franco and AueMaiVoin Italy—a consummation most devoutly to » e wished . Meanwhile , there la a growing 1 coolness between the cabinet of tho Tullerlos and that of Saint . James ' s . Franco In arming hor fleot ; and calling 1 out

      her naval reserves to an extent of which you in England seem to have little knowledge . She has turned her eyes imploringly to Russia , and although the French papers deny that any treaty exists between the Czar and Napoleon , there is one in which the most important article is an undertaking on the : part of France to offer no obstacle to Russian views on Constantinople , in order that she may have free elbow room in Italy . Your readers may qualify as they please the morality of this convention . ' ¦ ¦ ¦ ¦ The fury of the war party at England ' s neutrality was curiously shown the other day by a gentleman who stands high in the confidence of certain authorities . He endeavoured to prove that the party that suffered would be the one that took no share in . the war—that if England abstained , Russia would be in Constantinople , and that she would inevitably lose the . Ionian Islands with

      Malta , and the security of the Indian route . The uneasiness of Frenchmen is further augmented besides by what they believe will result from war , as to their inferiority towards England . They say— " Suppose we be successful , We shall have to uphold the Pope , and shall we not be as hateful to the Romans then as are the Austrians now ? and will not the defeat of Austria result in the disintegration of the empire , from the ruins of which will arise a great , powerful and compact German empire , on the other side of the Rhine , and a great Sclave empire composed of Poland and Hungary I" I have no doubt there will , and then , with a free Italy contending with France for supremacy in the Mediterranean , with a great free German empire holding her at bay on the Rhine , and with a Sclave empire barring Russia from Europe , both the fomentors of the war , the Czar and Napoleon , will reap their reward in the decline and fall of their respective empires .

      THE SINEWS OF WAR . Frederick the Great , in reply to a question , is reported to have said that three things were necessary to make war : 1 st . Money ; 2 nd . More money ; and 3 rd . Always money , —del ' argent , encore de I ' argent , et tpvjours cle Vargeiit . The French Government appear thoroughly convinced of the truth of this maxim ; for , although their organs stated most positively , on Monday evening , that there would be no war loan- —there being no necessity fi » r it—the real purpose of the communication to the legislative body on Tuesday was to ask authority to borrow twenty millions sterling , which had only been decided on in a meeting of the members , under the presidency of the Emperor , assisted by his cousin , the Prince Napoleon , held on the preceding evening . The

      vote of 40 , 000 additional men was an insignificant detail . The deputies who had indulged in the pleasing- illusion that no loan would be requiredj and had probably imagined that recourse woulq be had to the former Napoleonic policy of making the war support itself , were surprised . Whether the surprise was agreeable , or the contrary , ypur readers can judge for themselves , The announcement of the loan was received with very moderate and temperate enthusiasm . The'Government are held to have made two signal blunders , in the speeches which followed their communication . The first was by Count de Morny , .. the President of the legislative body , when he said that the material interest of the country ought to give way to patriotism . Whereat the deputies winced not a little . The second was when M ,

      The three former war loans , raised during the contpRt with Russia , were—independently of the nremiiiTn ^_ 62 f . 75 c , 63 f ! 17 c , and A 21 c for every WfZcT stock . 1 need not say that the financial condition thTn was superior to what it is at present . Then England was allied to France , and there were no apprehensions of an European coalition . Under these circumstances wp shall not err if we suppose the new loan will be taken bv the public , at the rate of the former war . loans—63 f 3 / In all probability it will be much lower . Taking- h ' Owever , this standard , it will , require to raise 500 000 00 ft francs ( twenty millions sterling ) , at the rate of ' caf ' a c for the lOOfi stock , to incur a debt of 793 107 fthnf ' ^ , 724 ^ 127 of our -money , if we add to thf £

      . , 800 , 000 ? ., voted to facilitate the payment of subscription by allowance of discounts , the real amount of the loan will be 32 , 524 , 312 ; . Nor is this all . The cash in hand and to be immediately applied to the purpose of war— - 11 , 320 , 000 * . —must be added , bringing up the total to the enormous sum of 43 , 844 , 312 Z . But even this total gigantic as it is , is far from representing the whole for the Treasury bills will suffer serious depreciation . \ Vith these figures before them , reflecting and intelligent men may well be pardoned if their enthusiasm for the war is moderate , if their patriotism does not assume the most

      warlike expression , and if they look with apprehension on such an instalment of war expenditure . Without calling- in question the financial resources of France nor the wisdom of its Government , it may be doubted whether so serious an addition to the burthen of the country can be supported with patience , or -without a very dangerous derangement of the finances . The interest upon the total above , which may be safely treated as a loan and addition to the public debt , will necessitate an increased annual expenditure of 1 , 315 , 329 / ., arid that in presence of a constantly recurring annual deficit , in time of peace , of never less than five millions sterling . The first Russian war loan was contracted for 10 , 000 , 0002 . in March , 1854 ; the second for 30 , 000 , 000 * . in January , 1855 . and the third for 31 , 200 , OOOZ . in July of the same year ; The rates of interest upon each of the loans were 3 per cent , and 4 £ per cent ; Without being positive , I believe the net amounts of the loans were realised , which , of course , necessitate the issue of a larger quantity of stock . If I am correct in this supposition , then , for the first loan there would have been incurredtreating the-two characters of stock as representing the actual value of money , —liabilities to the amount of 15 , 808 , 630 / . The second loan would have increased these liabilities by 47 , 491 , 296 Z . ; and the . third loan would have made an addition of 49 , 947 . 780 / . ; making the total debt left by the Russian war 113 , 247 , 712 / ., and tlif annual interest thereon 3 , 397 , 431 / . If we add to this , sad legacy of the last contest that which will be bequeathed by the ensuing one , as already contemplated , the public debt of France Will be increased bv 157 , 092 , 028 / ., and her annual expenditure by 4 , 712 , 760 / . for-which slie will receive no benefit , save what may be derived from military glory . On the other hand , the loss of the best part of her population will terribly affect the agricultural interests , which already suffer from scarcity of labour . Were it desired to add to this gloomy picture , I could enumerate the liabilities incurred for guarantees of interest to new railways , and the various loans that have been raised by Government and local authorities lor tiie gigantic public works that have been carried out , or are fn the course of being proceeded with . Should this state of things continue , you will not long enjoy tm melancholy distinction of being burthenea with the largest debt in the world . That oi France will speedily outstrip yours , and then we mny perceive , not tnoi VEmpire e ' est l ( i palv , but that P Empire Cost l « Banqueroute Nationale .

      Baroche , President of the Council of State , said that it was not . probable the whole of the twenty millions sterling would be required for the war , and then , in that case , the balance could be appropriated to public works . So indiscreet was this remark felt to be that it is suppressed in the official report published in to - day ' s Mdniteur . It is thought that the public would institute comparisons between the . address of M . Baroche and the speeches of certain joint-stock directors when they seek to raise additional capital . The report of the Committee of tho legislative body upon the Loan Pill is , of course , all coulour do rose . It states that the condition of the public Treasury is excellent : ample to supply the first wants of the army . The balances in hand on Monday were £ 3 , 520 , 000 .

      Tho new capital of the Bank of France ( £ 4 . 000 , 000 ) is to be paid over to Government iu the course of this year , and may be rendered immediately available ; besides which £ 1 , 000 , 000 may bo drawn ft'om the Dank as an advance . Moreover , the amount of Treasury bills issued is only £ 7 , 300 . 000 , or £ 2 , 800 , 000 below the issue fixed by law . By applying to these different sources , £ ll , 320 , 00 p , which the arithmetic of the report makes upwards , of twelve millions sterling , may bo rendered available for a " generous wnr . " However flattering tho condition or the financial resources may be , the bare and . naked fact cannot ; be concealed that upwards or £ 32 , 000 , 000--which I shall presentl y show to be much mwe—ore to bo spent in sacrifices to tho bloody shrine of Mars , and in pursuit of the hollow phantom of military glory „ to gratiiy linpoyiul ambition and satisfy dynnstlc exigencies .

      The loan of twenty millions sterling is far ft'om reprersontjng tho , burden that is to bo Imposed upon tho nation . There are to be first 800 , 000 / . supplementary , to facilitate the payment of subscription , and to covor tho loss on discounts from anticipatory pnynionts . Next , as the sum voted Is to be rnUod not , evidently tho Government will be obliged to issue an amount of atook-r-inscript-lona do rentofr-Jov a much larger flouro . Tho rnto of Interest Ja not yet fixed , but whether at three per cont . or five per cent , makes not the slightest difference , for the money will not be got for lose than it Is worth . Therelbro , if a larger rate of interest bo paid for a smaller loan , It will V ) Q precisely tho same thing 1 as if a smaller rato of Interest wore paid for a larger loan—a faet which Is . studiously kept In tho background . Tho Throe per Goute . dosed yesterday at 031 " . ; to-day they nro O & f . ClOe .

      Cokn Toom Russia.— A Writer In Lu. Jndep...

      Cokn toom Russia . — A writer in lU . Jndepwr dance Beige questions the truth of an opinion ftequently expressed , that Russia can supply Europe with an immense quantity of corn , and at exceed ingly low prices . Ho says :- " The past proves that such an idea is erroneous , particularly n » what re latos to price . Thus , in the month of Oc tobor , I 850 , wheat , was sold at Odessa as high as 20 t . 4 AJ . tM hectolitre ; in January , 1807 . tho price was 2 « . 4 oa , and it was only in July . of that year that tho auo tatlon came down to 18 f . 5 Go . Thoso were , prccsin years of scarcity , For years of abundancc , » 1 » t « passing at present is sufficient to throw Ug h ; on tho subject . tfor the year 1858 , wo find « -Olossa an average of I 4 f . 78 c , and in ^ rtfli £ oftloial returns , lOf , 44 c ., or If . 60 c . > " ° * " ™ ^ Iween tho two , to pay for freight , insurance , Wo ago , warehousing , and other charges . At presort moment what Is the didbronco ? W »^ J than 450 , in favour of Odessa only , JV ' «* fc J ? i franco . burg wheat is worth If . OBo . more tlu in lJftJJ As to tho quantity furnished by Uussi » J » W \ Jo of Europe , the following aguros wo offldal ioi ^ i year ' 1858 , -r Euglana , 0 , 860 000 liocloUuoj France , 4 , 252 , 000 ? Austria , 2 , ^ 41 , 010 , u ° " » ' 1 , 717 , 000 ; Turkey , 1 , 005 , 000 ; ^ v ^\ 1 &' qoO 1 Prussia , 1 , 31 . 5 , 000 ; and other countries , S . -f ' ^ or , in « all 21 , 051 , 000 hootoMtres , wllo . i is noj wonderfully great amount , franco , t , is 1 scon . u not tako flic greatest share 5 and , above au » doos not rocoive tho whoat from XCussui exceedingly low rate . "

  • Citation
    • Leader (1850-1860), April 30, 1859, page 10, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_30041859/page/10/