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Leader (1850-1860), 16th July 1859, Edition 1 of 2, Page 849, Untitled Article

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      Untitled Article

      As a blacksmith , named Ralph , was returning home across Soutliborough-cdmmon , Sussex , during a heavy storm of thunder and lightning * was struck by the electric fluid , and on arriving at his house in a few minutes afterwards his faculty of Bight left him , and he has not since recovered it . The Bishop of Lincoln has presented to the Chancellorship of Lincoln Cathedral , vacated by the death of the Rev . ( George Thomas Pretyman , the Rev . C . Bird , vicar of Gainsborough . The value of the chancellorship will be about 1 , 000 / . yearly , with a fourth share in the patronage of twenty-one vicarages , five rectories , and two perpetual curacies . We regret to learn that the Rev . Joseph B . M'Caul , of the British Museum ,, has met with a severe accident , having fractured his right arm on Thursday last .

      The beautiful church of All Saints at Kensington , which has been so long in an unfinished state , Is to be immediately completed for divine service , under the sanction of the Bishop of London . The fear expressed that the open space commanding the much-talked of , and much-to-be-valued view of St . Paul ' s Cathedral , will be built upon , is groundless . We can say that for the next 80 years it will remain open , for that is the period for which it is leased , and one of the conditions of the lease is that the site shall not be built on . It appears that , af ter all the reports to the contrary , the state prosecutions are to be repeated at the coming assizes in Cork and Kerry , and that the new law officers mean to follow up the work left uncompleted by their predecessors .

      The Calcutta Phamix states that the ex-King of Oude , in strains more doleful if less poetical than the " Tristia ' ¦ ' of Ovid , has composed a Persian ode addressed to Lord Canning , in which be bewails his own miseries , and supplicates the Viceroy , to whom he applies the most flattering epithets , to have pity on him in his captivity ,, and procure him justice . He styles Lord Canning the " Full Moon of the World . " ' . . There are 22 , 000 Jews in the Austrian army in Italy , and a captain of the Jewish persuasion , in the late engagement , most heroically rescued the colours of his regiment from the French , who had taken it . —Jewish Chronicle .

      Dr . Winterbottom , the father of the medical profession , died at "YVestoe , near South Shields , on Friday , in the 95 th year of his age . Dr . Winterbottom was also probably the oldest anti-slavery advocate alive , having been connected with the great movement for the emancipation , of the African race from bondage from early life . The other day a visitor was condoling with the old woman who opens the pews for the congregation of Greenwich church on the great amount of work she had to do . " Yes , " she replied , " we used to have only to open the doors , but now we have to push in the dresses . " ¦

      The Rangoon Times mentions the loss of the valuable presents brought from Franco . by the adventurer D'Orgoni for the Ki ag of Ava . In order to lighten the Alon Prah , so as to enable her to ascend tho river to the capital , they were placed on board a Burmese boat , along with a spare engine which the steamer brought out with her . The boat eank from the weight , but sprue of tho valuables were recovered , and afterwards sold by auction . They wore valued at two lacs of rupees . A gentleman in Oban informs us that a monster skate was caught last week in one of the nets used for taking salmon , by the fishermen of Donstaflhago , Argyleahire . The dimensions of the flsh wore as

      follows : —Extreme length , six feet ten inches ; width , five feet two inches ; thickness , eight inchqs ; sunposed weight , 130 lbs . The chief fisherman says it is the largest skate he ever atur . A Supplement to the London Gazette , contains , a series of papers received at tho India Office relating to events in India , which havo already been fully detailed . The telegraphic communication between Pans and Londonby tho submarine six-wire cable , which has just been laid down between Boulogne and Folkestone , commenced operation on Tuesday , and tho results are satisfactory .

      On Sunday tho evening services at Westminster Abbey woro brought to a close Tho proaehor was tho Right Rev . Dr . Edward Wyndham Tumoll , lato Follow of Wadlmm College , Oxford , and Rector of 3 t . Peter ' s , j ytarlborough , who has recently been consecrated to tho Australian bishopric of Briebone . At Lyons , lately , says the Algerie Nouvclle , a rotirod Chasseur d ^ Afxiquo , who , at this moment , is « , ohof d ' atolier , settled there , married an Arab woman , whom ho had himself taken from her trlbo in a razzia in 1845 , and , taking an interest In her , had sent her homo to hie mother in Franco for her education .

      Untitled Article

      military glory , he could not make them go , and could not enrapture them by military success . The condition of the French people , therefore , though ordinary politicians trouble themselves very little with such subjects , is worthy of public consideration . Latterly , in truth , the multitude everywhere have gained in the estimation of politicians , and abroad as well as at home it is found necessary to include them in all political calculations . . _

      The French , like all other people , are greedy of wealth , and are induced to support military expeditions , because they expect by them to augment their fortunes . According , however , to English and Flemish cultivation , France is not at present half cultivated , and the French could obtain a great deal more wealth with , unerring certainty by improving labour at home thaii by using it destructively abroad . The desire to possess a large quantity of land or territory was rational for the savage who lived by hunting ; but in a civilised man who knows that labour , not land , is the source of wealth , such a desire is a mere traditionary prejudice .

      France would be stimulated ; and the French finding increased employment and increased wealth at home would have less inclination to become soldiers , and would be more inclined than now to oppose foreign war . Our own heavy duties on French wines and brandy , then , contribute to nourish a war-spirit in France . They would be less belli ^ ei ' ent if they found more profitable occupation at home . Their military disposition from which we suffer , which compels us to be always armed or arming , is partly caused by ourselves . Men are not punished vicariously by nature , whatever may be the case in the Catholic church . They suffer only from their own faults , and are punished by

      nature only for their own crimes . Thus , for the readiness with which the French people lend themselves to . war , to our annoyance , we are partly responsible . It is our own fault that the French do not grow as friendly with us as the Scotch and the Irish , and are not as muck opposed as we are to schemes of conquest in Europe . But for the hostile tariffs by which the different people of Europe urge war on each other ' s industry , there is no reason why . they might not all be as friendly with another as the subjects of any one sovereign . National estrangement and national quarrels are the consequences and punishments of hostile tariffs .

      We are about to augment , and , it may be hoped , to revise our system of taxation . It is a general opinion that the property and income tax must be extended . If so , let it be properly adjusted at once , and largely extended ; and let us put an end to those barbarous duties on foreign products , like those on French wine and brandy , which cost us more in one year , by the jealous armaments they oblige us to maintain , than they yield in a generation . Policy , humanity , and all the graces of life all duties that im

      plead for the total abolition of - pede the trade , and the peace of the world . There are no duties on any tariff of any nation more objectionable , for the friendliness they prevent , than bur exorbitant duties on the produce of our nearest neighbour ; and now that we are put to such an enormous expense by merely apprehending an attack from France , no time can be more opportune than this for recommending the public to take into consideration the duties on wines and brandies , and require that they should be got rid of .

      DUTIES ON FRENCH WINES . nnHERE is a dearth of Commercial topics , and we 1 shall here advert to one subject rather political than commercial , though intimately connected with trade . The whole of Europe is alarmed at the vast military power of the French , and at the success attending their operations in Italy . Of course the Emperor can do nothing without his people . In some way or other he does their will ; and if they refused to go for soldiers , and Lad no love for

      Where the possession , indeed , gives a power over labour , as amongst us , who still suffer from the slavery of our ancestors to obtain land or an estate , is a reasonable object , but the idea of making slaves by conquest is now given up , and the bulk of the French and every other people can get more by toiling at home than fighting abroad . Conquest might 3 give a government more power ; it cannot give a people , individually , more riches . Since it was fully established by the researches of political economists that labour is the sole source of wealth , all rational ambition _ centered in making labour more skilful

      and more productive . The French possess an immense extent of fertile land—they are very ingenious , and to all the other people of Europe it is of immense importance that they should desire to remain at home to cultivate and improve their own soil . There they may find the means of enriching themselves , instead of ministering to the ambition of one or a few men , and making themselves the terror or plague of all their neighbours . The reader is , no doubt , aware that the industry of the town is necessary to the cultivation of the country . Both Belgium and England are remarkable for a largo , town population . Farmers cultivate corn to sell it , ana to improve cultivation they must have customers . " Tlie cultivation of England

      has been wonderfully improved since the corn laws were abolished by the great increase which lias ensued in the numbers of tho town population . Now , what is true of town and country is equally true of different countries . Onq is adapted to grapes , and another abounds , in minerals ; one is fat for the growth of cotton or sugar cane , and another for feeding sheep ; and all will be enriched ns they exchange products favoured by nature , as the town and country are mutually enriched by mutually exchanging manufactures for agricultural produce . Trade betweon the inhabitants of different countries is ns much a . part of tho order of nature as . trade between town and country , and we , contravene that order when' by artificial and heavy duties we prevent such trade . ' *

      Now it is a fact that Franco is , a great winegrowing country ; that a largo portion of its population live by cultivating the vino , and that they can only thrive and extend cultivation as they find a market for their produce It is another faot that tho people of England are groat consumers of wine , and would consume a great deal more if they could get it at a reasonable rate . Because they cannot cot it , they driiik instead much trash and many villunous compounds , to tho serious injury of their health , moral as well as physical . . Now , if there woro no duties Ijere on French wines they would be very largely imported ; tho cultivation in

      Untitled Article

      Friday Evening . Yesterday the Bank of England , following the market , reduced its minimum rate of discount to Hj per cent . Adopting a similar course , the London and Westminster reduced its rate on deposits of above £ 600 to lj , and below that sum to 1 per cent . ; the other banks and discount brokers reduced their rate to l ^ for money at call . At the same time bullion is leaving the country , the peace has already excited the hopes of the to tradeand in

      iron-masters , and given an impulse , a short time money will probably be dearer . At any rate , whenever the market alters , the Bank , which must follow the market , will alter its rate of discount . Any attempt to regulate the market has now become a ftirce , and the sooner the Bank gives up all notion of regulating the value of money , and of being independent of the market ; the sppner jit allows , JJke other banks , interest on deposits , and changes its terms as they change theirs , from week to week , the better its true character ot a mere joint-stock bank , with the Government for its customer , will be known and appreciated by the JrJlAV l

      ^** - _ - . J , * , _ - » As tho change made only followed the market , it Lad no effect on it , and money continues , as it was last week before tho Bank made the change ,,. extremely abundant . It is not expected , however , by those most conversant with tho course of thq market , tljat this case will long continue , and we hear tho opinion expressed , that tno Bank would have acted with more wisdom lind it lowered the rate two weeks qgo . We , howeyor , boltovo tj »« t "jo Bank knows tho state of its own till bettor than othera know it , and that it has only followed tJio I" }' "" " * given by tho present and proboWo future stnta of its fesourci in no v lowering tf . o rnle . Othanjge , to conrwuuruua m uuir j « v * uii «» tj v «— - •¦• - • -- - - 1 . 1 ' i u * y

      , , glM ^ F ^ blwrf ^^^^ '"S ^ ccounZ / the condition of the Bank of Franco , which , as compared to lost mouth * show a small loss ot bullion , an enlarged circulation , « m < l enlarged advances , la not favourablo to iHcroaaod cnllinthe money market . Poaco will undoubtedly increase tho demand for money ; It has already Improved trade , and consequently it Is not expeotod tJiat tho present enae will continue many Uf ^/ tHfl Tlio ' jolnt-stock banks are beginning to make their roports for the half year , and that of the Union haa suggested a dividend of 74 per cent ., equivalent to 15 pov

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      Untitled Article

      No . 486 . JutY 16 , 1859 . 1 THE LEADE R , 349

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      MONEY MARKET & STOCK EXCHANGE .

  • Citation
    • Leader (1850-1860), July 16, 1859, page 849, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2303/page/21/