hich impel it to success, with the exchanges all right, are, in the present sound condition of a trade simply overtaken by panic, perfectly irresistible.
And, for one, we have little question of its wisdom if carried out, as we have every reason to believe it will be, with the same boldness of action and unanimity of purpose, as well as mutual good faith, which inspired it.
We desire to express no hasty opinion or confidence as to how this matter is to work.--Its success in London and Paris, in seasons of trial, has, we believe, been invariable — certainly in the English capital.
But, come what may, this much we do rejoice at, that the bankers of the city of New York have made their Association a real and substantial unit, resolving that it is better, if need be, to go down together, and in advance of general mercantile bankruptcy, which a different course might entail, in the effort to arrest the panic by expansion, rather than seal their own folly and shame by breaking in th
summary.
We subjoin some items:
The Prince of Wales had not arrived when the Africa left Queenstown.
A prospectus had been issued of a Cotton Company, with a strong Manchester Board of Directors, the principal object being to develop the Dharwar cotton fields, in the Bombay Presidency.
The capital of the company is fixed at £100,000.
The funeral of the Earl of Dundonald had been fixed to take place on the 14th inst. at Westminster Abbey.
The projected visit of volunteers to Paris was meeting with so much ridicule and opposition that there was little chance of the scheme being carried out.
The usual Mayoralty elections throughout England took place on the 9th inst. At Liverpool the choice fell upon Mr. S. R. Graves.
Alderman Wire, ex-Lord Mayor of London, died on the 9th.
The monthly returns of the Bank of France show a decrease in cash during November of over twenty-five millions of trance, and an increase in bills discounted of over forty-three millio
quence of the upward tendency of rates of interest in London.
On the whole the market closed in favor of the lender, with a little less facility in effecting street discounts, although loans on call were readily negotiated by first class borrowers with good security.
Foreign Exchange opened with higher rates asked.
especially for commercial bills, but with a moderate business.
We quote bids at 6 days on London 100@102 for commercial, 103@104 ½ for bankers; do. at sight 104 ½ @ 105 ½; Paris 60 days 5 40@5 35; do. at sight 5.32 ½@5 34 ¼.
The Stock market opened in favor of the buyer and prices continued to decline for most descriptions.
although the bulls made an occasional rally.
At the First Board, Tennessee sixes declined ½; Missouri sixes ¼; Illinois Central bds ¼; Pacific Mail 4; New York Central 1 ¾; Erie 2; Hudson River 2 ½; Harlem ½; do. preferred 1 ¼; Reading 2 ¼; Mil. and Miss. ¼; Michigan Central 3; Michigan Southern 1 ¼ on old stock, and 4 ¾ on prefer
Troubles of Royal Polygamy.
--The ladies of the Imperial Harem, at Constantinople, presented themselves in a body, a short time since, before their sovereign lord, and demanded of his Majesty the immediate remittance of 200,000 plasters.
The Sultan sent an order to his Treasurer to give the ladies the sum demanded.
The Treasurer, in dismay, declared that the Imperial Exchequer was literally empty, on which the Sultan, furious, sent for his Ministers, who admitted the emptiness of the exchequer, reminded his Majesty that the employees of all the branches of the administration, as well as the army, had remained without pay for the last eight months, and took the opportunity of urging him to try and get a new loan from the prosperous infidels of the West.
The unhappy Sultan, after this interview, sent his plate to the mint, and will shortly, it is rumored, dispatch Kubrial-Pacha to London and Paris, with a view to getting up a loan.
e discount market continued to present an anxious and unsettled appearance, and no business had been done below the Bank minimum, and in many cases 6 ½ per cent. was the lowest rate that would be taken.
Three months paper was not negotiable below 7 per cent., and six months paper at 8 per cent. The amount of business done at the Bank on Friday, although not amounting to a pressure, was large.
On the Stock Exchange the rate for short loans, Government security, was about four per cent.
Paris advices say that although the pressure for gold on the Bank of France continued, that establishment had decided not to raise its rate of discount above 4 ½ per cent. for the present.
It was thought the Bank of France would continue to obtain gold supplies from England, but the Times' city article maintains that this need excite no uneasiness, although the drain on the Bank of France since the statement is said to have been immense.
The shares of the Grand Trunk Railway, of Canada, rall
it, as Samson did with the gates of Gaza.
It is not a southern town, it is not a western town, and it is not a foreign town.
It is something compounded of all these-- something partaking of the nature of them all, belonging to neither class.
New York, in a word, is an American town, the metropolis of the New World--a veritable type and image of the Western Hemisphere.
It can no more be long to any one section of the Union than it can belong to Asia.
It is the representative of them all. Paris is not more decidedly France than New York is the United States.
We derive great hopes from the unsectional character of this great city, and from the mighty influence which it must inevitably exercise, in keeping the Union together.
It is the seal upon the bond, which must be broken before the instrument can be rendered of no avail.
It is the centre to which everything in this country tends.
It is the grand settling point, where all debts are finally paid.
It is the point to which
Commercial.
Richmond Markets, December 6.
Apples.--Northern $2.50@3.00; Virginia Pippins $2.00 to $4.
Bacon.--Sides 12 ½ cents; Shoulders 10 ¼c.; plain Hams 12; Sugar-cured 13 @13 ½c.; Todd's Sugar-cured Hams 15
Bags — Seamless Bags, 25; Manchester do., 19@23; Gunny do., 12@14
Beans.--White $1.87 ½@1.50 per bushel.
Beeswax.--32 to 33--active.
Brooms.--$2@3.
according to quality.
Buckets, &c.--Painted Buckets $1.87 ½@$2 per dozen; three hoop Painted Paris $2.25@2.50 per dozen; heavy Cedar Tubs, neat, $3.50@5 per nest; heavy Cedar Food Buckets $6.50 per dozen.
Butter.--We quote good Butter at 20 to 25; inferior 8 to 10
Candles.--Tallow 15 per lb.; Jackson's 15; Hall's 16 cts.; Adamantine 20@23; Sperm 45; Patent Sperm 54@56
Cement.--James River $1.70@1.80 per bbl.; Northern Rosendale at $1.70 @1.80.
Coal.--White and Red Ash Anthracite Coal, for grates, $6.50 per cart load of 25 bushels, per ton of 2,340 lbs.; Bituminous Lump $
ly the Empress's part is very near being taken, so severely is Parisian propriety shocked!
When one thinks of it all, it really seems to be almost natural, and one cannot help recalling certain passages of the earlier days of the poor Empress's imperial state, and seeing how impatiently she must have borne her splendid letters.
After she had been about a fortnight the wife of Louis Napoleon, she issued her orders to some of the ladies around her that a walk should be taken in the street of Paris!
A walk!
Immediately the grande Martres, Madame la Princess de' Essling, made her appearance, saying she was ready to accompany Her Majesty any where in a carriage!
At which the unlucky Empress exclaimed, somewhat tartly, that she neither wanted a carriage nor her company!
This is the answer on record.
And hysterics and nervous attacks ensued, and the once so independent Mdlle.
de Montijo was shut up, "for good and all," as little children term it, and left to meditate on the recent ch
Letter from Paris.
European Politics — the Emperor's New Year's reception — Interview between Napoleon and Mr. Faulkner--the first day of the Year in Paris, &c., &c.
[Correspondence of the Richmond Dispatch.] Paris, Friday, Jan. 4, 1861.
The first of January is an important occasion in Paris, in both a political and social aspect.
It is a traditional custom for the Sovereign of France to receive the New Year felicitations of the great Bodies of State, the foreign diplomatic representatives accredited to the Court of the Tuileries, deputations of the Army, the Navy, the National Guard, the Legion of Honor, the French Academy, and public functionaries of high rank.
The general love of parade and display prevalent in France, the necessity of appearing in uniform at Court, and the vast number of persons ushered into the sovereign presence, have always rendered this scene grand and imposing.
But an additional gravity attached to the annual reception at the palace
Assassination of a French Judge.
--The foreign papers relate a startling assassination of M. Poinsot, one of the Judges of the Imperial Court of France, in a railway carriage between Troyes and Paris.
M. Poinsot entered one of the compartments in a first-class car by the night train at Troyes, of which he was sole occupant.
On arriving at the Paris station he was found dead, having been stabbed to the heart.
The French cars are so arranged that no passenger can stop the train, and no immediate clue could be obtained to the murderer.
