Newspaper of The New York Herald, November 4, 1855, Page 2

Newspaper of The New York Herald dated November 4, 1855 Page 2
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jl seii to givc seine of the oubu 11 found ia debasto; .1' et?t tl e ?ta1ne. In Italy the can-ns of the Collegiate church of San ?audei /io. at N ' ara, h-ve demurred to ihe new eocle giastical law of l'<edm"nt. declaring that they do not eon," nmler its provisione?lstly, bicuse their church, being a parish, cannot he suppre-M>d; and illy, because K lies in a town of more than '.'0,000 inhabitants, in which, however, they include those of the surrounding country. The matter is to be decided hy the tribunals. A tetter from Home, in the V-rena (lazHle, an official ' journal, says;? i'he Holy s'ee has committed a fault in displaying a certain partiality tor P.u ,.,ia, and this partiality has be< n ? h- wn In a manner that docs uot admit of denial; thus, the cardinal and prelates of the Vatican were not present at'he Jc !>? a?i oclchrated Cur the fall of Sevastopol, whilst their presence was remarked at the palace of the Ru-siau legation on ,-'t. Alexander Newski's day. The Po|>e, at the last consistory, named twenty-one bishops, but made no important alterations in diplomatic arrange ments. General Delia Marmora has applied to the l'iedmontese government for provisions sufficient to last until the end of March. The iTartdrrrr, of Vienna, learn* from Athens that the repiesentatives of France and Kngland have deraiml ed positive promises from King Otho? 1. In respect to th3 symjiathy displayed for the Russian cause. 2. In regard to tire Urge bands of robbers which dis tort the peace and <iuiet of the country. 3. ha respect to the Greek prees. The king is said to have declared? 1. That he had no inlluence over the sympathies of his objects. 'I. It was the duty of the police to prevent the ex cesses of the robbers. S. The papers stood under the press laws. Mr. Wyse is said to have observed that, if he was rightly inlormed, one of the papers which agitated against tlio Western Powers received pecuniary support from his Majesty. It appears from an official return that the commerce of Stpain (exports and imports) in 1854, amounted in value to 1,809,250,136 reals, which is 498.134,121 reals more Mian the average annual value of the four preceding years. Seventy three new cases of cholera occurred in Madrid on the 12th of October. Fifty-one persons died of the disease same day. The Indian mail brings the intelligence that an at tempt had been made on t'< e life of Sir Henry Ward, the Covernor of Ceylon, by a Cingalese. Had the Governor not been armed with a pistol the consequences might have been verv serious. IMPORTANT FINANCIAL NEWS. Tlte Monetary anil Food Question In Europe. INCREASE IN THE RATE OF INTEREST RY THE BANK OF ENGLAND. I From the 1-ondon Times, (city article,) Oat. 10.) The Bank of England advanced tlielr rate ot discotint vesterday, from 5>4 per cent, at which it was fixed on (he lib mstant. to 6 per cent for bills not having more than (jO days to run, and to 7 per tent lor those from tlO i?'The<Bank of France have also advanced tlieir rate from 6 per cent, a; which it was lixed on the 4tli instant, to 6 '*The "knglish funds opened iu the morning with an unsettled appearance at a decline of an eighth tram tlm last puces of 17th, and the first transactions in consols for money were at 87tj to The public, however still continued to show confidence, and an imnrovament took place to 87V. The announce ment of tlio measures ol the I tank of hugland then ran ed a fall to 87 >4, which was the last quotation. Silt account they' left off at 87>< to %. Mm. .tea ly purchases made during the lust week have ?bs".b?l all the surplus stock in tlie hands of the dealers, and loans on console can therefore be obtained at an ex treme)? low rate. I'nrter tiiese circumstances the ap pearance of (he market's fur from unfavorable, notwith standing the movement ill discounts. Prices were sup ported also, by a large tlme-i'urchise by a broker, who wag on the 17th a heavy seller. 11,ink stock closed a 007 to 209: Reduced, SC>j to . The bank rate for advances on consols. Turkish scrip, and othei government securities, will bo n per cent. The discount houses have not yet issued theli<?f nn alteration in the rates for money at call. The> var cos joint-stock banks livve increased their alios ince fn ^ final uMoug of the French Three per Cents on the l'aiis Bourse, on the evering of the nth, *?o 6H. 10c. for mcney, and Off. 20c. for the end or the month, showing a decline of three-quartersper cent. The measures of tlie Hank of huzUud are rather m ire ntriugent than was expected, but. although they wi cause the financial course ol tl.c country duuag the next two ottliree weks to ne regarded wtvh almost uupar abided watchfulness, they have exci'ed neither dU-'-tls facth-n nor alarm. It, is assumed that the next Gar' -return will exhibit a further large dcrrea.se in tlie bul lion, and, apart from iliis. the trexh step taken by the Hank ot France confirms the necessity lor increased eautiov. The total absence of commercial distrust is as markerl as evr. ami apparer.tly the only point for dread is. lest the public, un iccmtoined as tney are to such a i?te as 0 per cent, should s ter themselves to suppoge that it ni ce sarily mv-- ves Mwiclhing tenible. "What are to be the c se quenc.es: is u quant I-n ee?god from 9fit) bile person to another, the rcfi foalum* ? ? ^ iowever ?-'?>- " ^ illlUw.|lUtablo healiUtulue-s .t trade, admit V'. .Jf"* /"XiLl'm .tier wS than ordinary precision. i P I ^ ,,f ;i very the public liavo ye. to learn is the va. . .-h-- ? ^ed* their?t.V ovary \W.000 or (W hrnk Wetenmfof at least ...500 oUUquartersof wheal nod meanwhile the prc-sure is just a' ?re'1' * tb**y are ultiiontciy to TPj>?iy ? t . .? Pence there me inftuencei amply to< ae. <??- - dlaturbance now experienced, in addition Lr IB tttiS ''U^n^li"hC^^n umrus" o'f '"m SuonTaX1-the obmininc -f money on ?!, ? - ? of foreign securities, tberecan acari civ at I'""''-'' ' nnru t hen ion. It i-to la remarkc 1 moieovc 1 pSbllc get 1* rally fall to estimate aim on the lo^oTiMi ot a modern U sum ?? >* ? the other ^>iy[;rri!e*?.\Ce o?^Dunt",^n lM? it w? bill as A per c.,,', the l?uk bnlllon havt.17 a.m u XX/ mmmm and although it.-next steamer ? ih t.i >c in, I,ably Xl00,000. it wlUclnetly be tor con'raCiS pn- 10.1 . r"liut^w^U' even the certain pros,*et?r mittaa'u-U b sufficient meanwhile to ,usl:.o. c- ou ten,- all V-, ;??ntr " Hitherto ever 11, iu? IvM ten-^Vn^V'^Uh s^SS!ir?s,??sr:jSr?A lioulitleM. to i...... h I a. T?rh? ' hould thev gov rate, txin that - .nv.ct.nn ft-om the absence of uncertaintv. a deg greater than prevmuly pievaned. If lbi* nope ue wa biht^ui^'tbe'llans"^rtm act ofour ^.slng through , r .do., sohoity?'.* ^ytr^"?roniccum%i All that we hire , c drel upon. THE CZAR'S FIKAMCIAL OPERATION I* I*OtA*?. prom the I.leer poo I Poet. Oct 19.1 The enemy ha* found out our weak place and h i 111 Ml" a blow *t it. He lie' discovered that ?<? are vulnerable only In the Hank of Rn^Unil??<cn?ltive ?er1oa*ly in th" emit- in Threndneedla street; and lie he*. tb*ref ?ro dipped hie hand into the bullion box. He eouM no! drive hwck our ?rmj?"nira?* our ships; but he could originate ? panic In the money inaihot. una .lam ige u? worse thin eould the lowof * battle. Many, certainly tiellcre that the Autocrat ha ihstra. 'H our gold; aad, If he hm. he l? entitled to credit for hia cunning. '<>r klthoofh all rafidtui animal arc i ikIo ved with an iMthct tfHrh directs them to the vital part of th. ir prey, nation' nut hcinf ? roilarly en low-?! th. moial strategy la retail si only to Intel.e*t. B t can the f'aar rial n this praise f I?t u? Inotrtre. fin the Jfch of July la?t the halt I .n tn the hank wt* jtia.rai.PVo l.st Iriday wa-k only 1U,1U9)} lh de< reae? haa, tb' i . t?. n ?i,*W fa a national ftBiC kbfi lW.!vi'7 h-} , 1*1 Uli Wj .? ?\ ell informed, :Lut gold to U?. u Juiil . of x4,0 *),uOi? hAs been traced trom England to Vienna, bat no; beyond it. Wan that goid tor Russia? People in London b ive been much puuled by the way In which the bullion has gun:; theic wan bo much mystery about thf transactions, that the operation was assigned to the circulation ot bill* not strictly commercial. All this lends some countenance to the subpicion that Kubbia hab contrived to interfere with our money transactions rather than with the courae of exchange. The Bank of France has been exposed to a similar visitation; and it will be recollected that the Emperor ot Russia, on a former occasion, eviuced his financial power by coming opportunely to tire relief ot the Hank of France. The resources which afforded sup port might be converted into a means of ernburras.-lng. It was competent to Russia to resort to a tiuanciai ruse through Austria and I'rursia, and their agency in London. But did she? Are we not needlessly alarmed? Twelve months ago theie was a similar kind of gold fover raging. The gold in the bank. October 13, was ?12,350,000; on the 21st. ?12,288,110. The bank took fright, but On the 2ld of December the gold was ?13,478,000, uud on the llrst week of January 1115,180,000. The triutut gold returned then us it wilt now, and in all probability sooner; for last autumn there was an alarm of a scarcity tor f >od, not felt now, ulthough Hour is nearly the same price. StOl there it something not fully exptaintd in (A- temlency of golnt to 1-xtvc the bank; and the bank director* otwiously think that there it, for the remedy they retort to is ife ;wru'e rather than bohl. lite rate if inbred is now unnatural, and if there he anything uf a sinister character in the gold transactions, government should promptly inter fere, and give more freedom to the bank. 1 he present state of things lias revived tho hanking controversy It agitates Ilerby and Nottingham, and, of course, Birming ham; und it will be seen that tho Liverpool Chamber of Commerce is invited to consider the subject. ACTION OF TUB LIVBBPOOL MERCHANTS. [From the Liverpool i'ost, Oct. 19.] A requisition of a highly Important character was yestcrrtuy signed on "Change, addressed to the Chairman of the Chamber of Commerce, requesting the chamber to call a meeting to consider what course should be instantly adopted for the jelief of the community, now suffering trom a fearful depreciation or proiierty consequent upon oor present monetary system. The requisition, headed by lltUcdale and Co., Sandbacb, Tlnne and Co., Moly ueux Taylor and Co., Haigh and Co., /.wilchenbart und Co., Buchanan, Brown and Co., and other influential names, received in a very short period s large complement of signatures, and will be presented at twelve o'clock this day to Edward Heath, Esq., Chairman of the Chamber; until which hour it will lie for signature at the odices of Mr. Beloo, 18 Brunswick street. The following Is the requisition:? To the Chairman and Committee of the Liverpool Cham ber of Commerce :? We. the undersigned residents of Liverpool, deeply en gaged in the commercial art'ulrs of the country, cannot help viewing with dismay the continued depreciation of property under the influence of our present monc try system, which has again arrived at an alarming crisis. They request that you will call a meeting of the Chamber of Commerce to consider what course should he instantly adopted for tho relief of the community. Mr. Heath, in receiving the above memorial, sail he was awaie of the step being taken by tho mem 'riallsts, and that he himself, as a member of tho commercial com munity, was infferlngfrom the present oriels, and could not, therefore, help sympathising with tho r st of his commercial friends. In tho capacity of chairman of tho chamber, he was willing to use overy endeavor calculated to promote the object in view." Ho wauld remind the deputation, however, that it would be necessary to proceed with moderation, ns the only means of maintaining that influence and position which the chamber had by pursuing such a course obtain ed. He observed, fmthcr, that duting tiro past fortnight lie had had some intercourse wl'li various gentlemen on this subject, and that it was his intention, at'he next monthly meeting of the chamber, to have brought the matter forward. He should probubly havo taken it upon i*s general merits, as well as in connc'.ioii with the great question of the money charter. Having, nowevor, re ceived this numeroiirlysigned requisition, he should con sider it his duty to call a special meeting of tiio council of the chamber on the subject. After some fitrtber coorideration, tho Chairman inti mated that he would call a special inec'ing of the conn'it on Monday, at which the desirability of calling a moot ing of the Chamber would he considered. [From the London lllobe, Oct. 19.1 Yesterday the Bank of England advanced their rate of discount from fi ti to fi and 7 per cent; and yesterday some persons ai Liverpool signed a memorial calling up >n the local Cnamhei of Commerco to petition Parliament for a temporaiy suspension of Peel's ban!, act of 1814. This wo fully expected, and the gentlemen at Liverpool have conferred a favor upon tho country by bringing for ward the proposition as soon as ptsstble, in order that the policy may lie summarily discussed, exploded and dismissed. If there is one thing more decidedly settled than another, it is that, notwithstanding the continue! diain ot bullion, theie lias been down to the present mo ment an unbroken confidence in the commercial sotin I ness of the country, anil we inust assign this correct feel ing mainly to two causes. In the lirst pin e, we trace it to the compilative absence of ajierulative trans ections ; and in the second, to the conviction of the public that, our currency is perfect ly genuine, end that any inconveniences which might result from the drain of bullion to supply a va cuum i n the continent is, us much as possible, under ifce c nt'ol of that establishment w'jich b m in ?Uirge the fiti(N*ga(es of the currency. Although the nature of the demand ? n the continent is m part but c >nje< turaliy known, the natuie of 1 lie operation a* 'he bin's is per fectly understood by every commercial class in the coun try. lire bank lins successively rui-ed the rate of dis (ountby a half per cut at a time, in the expecta'lon t.h it the increased value t f money which is at once recognized nnd confirmed by tfcnt enhancement, would assist in reus ing a iractinn to bring hack bullion from the continent. Isist week there was reason to believe thai this operation had I'ten in pari at JOust. successful; and it wag from thut cojjyfctiojj ijist "he public explained ;be putsliighver TIuirsAty without ,1>e ?W.'Vfi raising of discount. The point of reaction however, it ap,tears, lias not a eu attained, and heme -he proceeding ef je.stord'iy. It follows thut the operation at the bank uni t neces sarily have tome Influence on tiaile, and anticipation was continued at the colonial wool sales whi-b com menced yesterday?the "'caution" of buyers bringing down prices nor can we expect that any contraction or the currency should take place without asms r traction ot coinraetoinl dealing-. But wo believe Ilia*, the Incts are too powerful to suffer any unhealthy excess of I'eeliDg 11 tins kind to continue, l'he state of trade yev teiduv wss not different trom what is wis on Wednesday, or from what it tins been foi several months past. tVe still pos-c?s the same ample hut not excessive supp ios of <ur manufactured commodities; we have reason to ex pect commodities in exchange from all the gieat countries with which wo nru In trading communication; and whit ever may he the price in money, the relative value of n 't Hiese commodities remains tlie -nine, though their value in money 1- for the time alVec'ed The /iroptmxl ' wp irt the atlot 1811. true ever, in nothing more, nor le .< ihn, a jnwji'taJ to rennnthe ra/effnard ichi'h ha >' cur> I ?? f/i contf rt whith . ' now ei^tui ><' a peri'el ot monetary trial. Vilia' was the object of the act oflSW? It was supple mental to the act f 1819, which declared that th" notes of ilie Bank of England should be convertible into gold at the r?'? of ?3 17-. lObpl. per o.inre. If we did nit stc the fallacy repeated, wo should think it superfluous at thl- dale t?. remark that *13 17s. 10'jd is not tbe ?price ' of gold but it only means thai wo agree to csll a pin e ot gold weighing a qua'tcr of an ounce lits. fld, an! ths of n penny?giving to the lumpot stamped gold the colloquial name of a'"suveieign. This is the answer to Feel's question, "What i? a pound *'" an I w len it is pro juoed to alter the standani of value in order to in: the or iivenienee ot raising the filling price or auv other flue tuation. we iniike exactly the same proposition a< i an aspiiiug hero, wlrii more ambition than inches, were t < suggest that ;he tecruitiiig sergeant should be -uppll"! with a I'ootrule of different lengths, to suit the different heights ol candidates. The net of 1819 however pu-nrtcd that tho directors of the Bank of England, in their Discretion would keep su ih leservos ot bullion would ?na'de them to folfll the statute: but thedemrih of the commercial public on tlie one hand, a ill on the oiher tie dlslske to see bullion -'lying idle," with?> it mukinga profit lor the Bunk, induced the litoctor? to in crease their uoies and diiuinish their bullion in an in ve -e ratio. Thus while the securities, which stool at ?20 IOO.isiO in Pcccmber 19..8 advanced to Shi,1M)<1,09! in the follow lug i-eptnnber tlie bul.ion lis I sunk trom JtU.bOO (AM) to ?2,800 00.1; a 1 an ot ?2 Ol) OOJ um tlie Hunk of France averted a -u?p?n-ion of cash payments, flow would eur commercial public like t-. <? 'Uteiaplate | that state nf things But it una not the worst instance: tu 1824-ft. we bad the pec u la tire mania for foreign loans, and Joint stock eompiules, Involving an export to the amount if ,000.ih)ii, and ueodiug a capital of ?.'72,000 000?much of it mere wiul-bag com metci', which nee- ? ? iljr exploit ?! ?" * mi'v tmnkl wereiwepi t'WKj in-i\ week-'; ilia x '1 in the Bulk of Knji*ad g iiiK i? a (.-??- thou- .u i pound. and the country t?u ? uitii n > lc* It ur- ft n ilate of Parlor." How would our commercial public li?<. to tet'iro to th it state ..f 'hinre Ho- act of I'd ??< the i-omplem ut to the an ? f 1811'. in obliging the hank direetori t?(tit it ?tteh ci motion* a.. would always keep a proportion between the hiillii n in thetr code - and their note* in circula'ion, compcliug tlicm aim to n. tit.* t it ? aeto.il -'ate o( their ? ? hibUsbiicnt Ttui - they w< >? compelled at one# to he in a Ci uiitth a lor fulfill n. their lun iatnental o'digI'f ma and tbi ughout to niaolte-t that ? ndi'l >n to the public. Heme the ottMnce of the present ti a . in tome other r. pert* 'lie . i cu a tauc - i 'lie pre ?n day a r net ?o reij widely liflbrent from t?o-? if 1JJ6. t! e in .ncipal diifeienee lr ing that any..II ape illative pu -Ion which might i ? inaulg I ? u ' at pliv in tin cnuutry but flee* here. We are happily fioe fru.n if. mainly is cmi-c |uei.ec of the practical wirwe o< citn ne C >a continue i by fiee trade and the ptacli .1 alew. ol money matte;, wnitmttj enforced up -a t.m atteati >:i of the ItrlUah public through 'lie action ol th > hw k under the atetute ol 18i i. In iirnpoina to abolUb that act the gentlemen at I-iverpnol ire like the timid sail ?. in a Tcarel gallantly hoaring IT a !#?? abort who, ae-rig the .train upon the rturni ?aiU, ahould ?ai tin' a. th wind in lihih it Would be aa well to haul iu th" .nil* an I drift, lb 'he operation of the a :t we retain our .nan Inea., ia I the Hank of f'tigland l* in a condition w il i gives it the command of the correscy beyond any p ?*; if bimg i gambler, to di?tnrb Or undermine otn Indtpent nt nnd .soiv nt conditiiin: and whatever atop. may to- uect" ?? ?? to bring about the reeOlte contemplated by the bank, every ?uch elep i. ou'y u new guarantee for our . ill l'ty. our independence and our command of the m >nc? mar. kct of the woild. [From the i/indon Time# ('city article). <?rt,) The V ngli.h fund, opened yesterday in i-iiinp with groat eti inline.- nt an improvement of nn eighth upon the price> of last e.oiiiisg imt, al'lo" gh atlirllnr riH <?!)? awinently took plaee, the market at the do.# abiwed n irlnpf# Ononis for mooey. which left off yesterday a 87 h, to were ftr?i quoted 8714 to From tUia they advanenl to 87whence a decline occurred to WJ< from which there wa* only a partial recovery. tb ? lijtll trail.action, h.iviuz been at 87 for m ney an i 87 to bMjh the account. The nrmneaeof tope In the et'Iier |ierHr the day en* attributable ti a continuance of the a'ewtj pureh.eee of the pnMic, which hive tinted nn ac'uil eoarcity of atmk, etdle the ultimate weaknero w.ia oriiAfdoned partly hy the preparation, for the pay ment nt il,000,000 '???morrr.w nn the Tnrhf.b I in ;md pertly hy a fj|tih 'r ri.e In the e ,rn marke < ?n eeqoeut upon the ror'lniot?l d.-m .nd Th? abi-ti ??? fc.'.-kt- hcaa a- a.11 w. ol g-.a h??l.<a- , .-u me r . ff M* w, abui ' n , roi luiiDH on con aula; but, advantage having been ? .... .1 of ^."C r?TUDCe 10 obtadB ,lM> for the Turkish ?H^n.L ?re, waAmovr# <Wn.l for it later in the -lay. S!J! >D ,thf ^ank buUloB m npeoted to be ESS -J wrt<mt ?*wn?-?u?ely, <42tf, set). Bank stock closed at 207 to 209. Of Vxcbauuer bllU there were no buyere, bat the price th?mD<t^Jw y i0?- J08"" 4iscount- The public are seUing tb?7 nit ""^ntage of the opportunity of investing >n thi funds at low price*, aud they hive a tendeucy to be ccme unmarketable. It may be assumed, if thin should continue, the government will speedily announce'an in crease in their rate of interest. The diicount houses have given notice that they hive advanced their rate of allowance for money at call to 5 per cent., dating from to-day. Their previous rate was 4), per cent. The demand for money was moderate* both at the Fank or England and out of doors, but the rates chargc l by the discount houses are scarcely inane case mure than a 'Taction below those of the Bank. For. in securities experienced increased heaviness the decUne having teen accelerated oy speculative opera tions. There were bargains in Six per Cent Turkish at , for money, and 79, 78^, and T8 for account. Russian hive per Centa, 97. In the foreign exchanges this afternoon the rates Tor Hamburg and Paris were rather higher. With regard tu ether places there was no alteration of importance. Ihe report 01 the Liverpool cotton market for the week shows an active business at the commencement, with a tendency to higher rates, which Was effectually checked by the measure* of the Banff of Kngland. Ihe closing quotations of the French Three per cents ?? .nlia/i? fl""??' it" eveJlinf' w?r? Mf. 10s. for mo ney, and 64t. 15c. for the end of the month, showing a decline of loss than an eighth. The advices fri m parts yesterday morning stated that the advance of the rate of discount yesterday by the Bank ot France waa not resolved upon until the tele grnph reported the alteration on this side, when it was adopted to preserve the equilibrium between the two countries, no change having otherwise been intended. If this be correct, it is an additional proof of the salutary course of the Bank of England, since it Is only by the adherence of the Bank of France to tkose vigorous mea sures, the early neglect of which has cause! much of the present embarrassment, that the danger or further difliculties can be averted. The discount market in laris. however, seems to be less unsettled than in Lon d*m, since, from the mercantile letters received to-day it appears 'hat good bills can be negotiated a half per cent below the bank rate. y I , from Amsterdam mention that the Bank of Holland have resolved to decline selling silver, which, at I ft ?*rd Prl"e> h'18 heretofore been their custom. This will bo an additional obstacle to the transmission of fur I ther anioonts to India and China. His understood ihat the prevailing high rates of dis count have already had the effect of causing considerable amounts of foreign stock to be sent to the Continent for sale. A further favorable circumstance consists in the ract that some portion of the recent drain from the Hank ot Kngland has arisen simply from a demand on the pact ot the Feotch. Irish, and other provincial banks. In this mnnrer a large parcel of sovereigns has been taken away to day and it ts believed that the total absorbed in thos? channels during the past month or two beyond tho usual amount i* little abort oi a million uterling, the mcana for procuring such extra funds having in several instances teen obtained by sales of Exchequer bills or stock. On ihe other hand, against these reassuring circum stances miint be set a rumor that the Bank of France is desirous of procuring an additional ?2 000,0.10 iu gold, and 'hat the future Australian arrivals are likely V. uPH5r . to 8l,I?ply it. The mode, however, in which Ihe credit is to lie arranged Is not Htated, and it wonld lie satisfactory ifit could be hoped that tho aler ation yesterday in the French rate of discount may be tound sufficient to accomplish what is desired, and that the pin u, If it haa been entertained, will bo rescinded. JThe peculiar evil of such ar'iUcial measures Is. that in both cciintncs the reaction from tliem must boas mis chievous as their llrst effects, since an unnatural re bound on 1 ne ride is as much to lie deprecated as the ultima>e increase of anxiety tlmt must be felt on the otner. The annexed oommunica'ion relates to the operation bill .1 "'eH,,ures "r 'h? I,Huk on " "Pocllic class iff trade c, T . ? ? Citv, October 19. 1856. sir?I kicg to callyourattention to the vory serious in convenience to which tho uuinerous wholesale houses whose engagements fall due on tho 4th of eaob month will he subject to hy the resolution of the Bank of Eng land not to discount bills having more than 00 davs to run. except at the high rate of" per cent. If a house holds lulls due o? the 4th of January, and wishes to dis count them, to provide fir payment on the 4th of No vember, il will be shut out from the Bank of England except at 7 per cent. As those bills would on the 3d of November have ti2 days to run, and as most trade bills are drawn at three or four months' date, the wholesale trsi eis Will be, for all practical purposes, shut out from t'1" ;r, n?l'l1nd; If tb? ??]? hi'l. been (16 days, in u.a<i 01 10, it would have aOotded considerable relief. ?IV.. r 11 ? . . a TRADER. ']'c '"""wing suggests that the bank returns should be made l.iiblio utter the breaking up of the Court on each Ihnrsday, instead of being delayed till Sutuiday ..., lr?11 [be mercantile community is hound to conduct nVrt .St * , c."ndltl',n ?he Iknk ot Engand, ought not the directors to publish the weekly statement with out UDUCccfcFary delay V t?^i?r^0Um n?} 8 C,,W "f tbe bank returns immediate ly a.tcr the directors adjourn on lhursday be placed in dlffeieut conspicuous plac-8 within 'he bank, posted in the Royal Exchange, forwarded to the Stock Exchange la.u papers, instead of smothoi ing th. in for forty eigbt hcuis, un'il .-aturday morning, when business men III fit SCO UlCtD it Oct. 18. n' - retuin irom the Rnuk of Eugl.ind for the wcok end mg October 13 gives tiio following results, when com pared with the previous? week - Public deposits ?4,369,861 Decrease ?2,748 073 other depots II,10*,926 Increase 1,088,282 Rest..., .... 3,147,899 Decrease 531,519 On ?he other side of tho fteeduut;? Government securities, il0.56d.040 Increase ?857,103 Other i ecuritic* 19,280,440 Dcorea.se 610 847 Notes unemployed.... 4,567,490 Decrease 915,080 lie amount ot note^ in circulation hi ?40,648.8'<5 be ing: an increase of ?35i; 810. and the stock of bullion in both departments is ?11,75*2.421, showing a decrease ot X'kG.860, when compared with the preceding return. HILLS Of EXCHANGE IN ENGLAND. Tiio I ondi n Tint'.- of Otober IBlli says:?A chsnge in the law t.< about to take effect which' iu its bearing ou the luteins I operations of English commerce is likely tu prove very important. From and after tld- day week (the - lib f f October) the summary procedure vu Bills if rxcharge Act is to come into operation. '1 ha object ot 1' ftsineis I. , to ieir.1 ve all meaus ?.f rrtvolous in- ticti ? 101 > oe.encc. o actions on hill-' if exchange snd pro mi soiy note- and the deeiclve character of Its provi sions teuoers it neccssaiy that every ti udcr In the conn y 'noi.ld he well appibed of them. A new form of writ ? t summous is to be is.-ued. after which the plaiutiff may in 12 days, unless leave to defend'he aetion he iiieanwli'le obtained, pr .ceed to judgment and execution. I.esve to appcur is to he granted only on the defendant paving tlie amount of the claim into court, or upon "atislactorv affidavit-di?closing a legal cr equitable de ience. or the necessity for tire holder to prove coo-idem Hon, or such otliei farts and on sueh terms as to securi'v as to the judge may seent tit. (me summons may lie made to include nil the patties to the hill. The nc: an. phes exclusively to England and W,le- and not to I.e 'and or Scotland CONDITION OF THE HANK OF' VIENNA. [Vienna (ret. 13) C'orrerpundence of the Is>ndou Times.] Nothing is yet ? efniltely settled i:i liic llank aifnlr, but .?liable inloi mat inn lint been liven ioe thn' ll i> pro jii svtf to exlend U;c mortgage business orthat institution lor beyond its ea| itit 1 ( l 20.000,00(111. Huron Bru-k eri dently intends to introduce the Prussian system which wilt tit w he explained) into Austria. In the Prussian pro vin c> ate so-c.Ued ''credit bunks ' for advancing money on teal proi?"iy, and the pn piletori of tbc-e ituni'ntion< tire at one and t'< same time debtors and creditors. The great landed proprietors iu each I.andsciiaft or district f-imed a Wind of company or cre Ut bank, and then had their estntes valued !>? sworn surveyors. It was then settled t! ai each landed pro] i let or might, if he please I trior guee his pi<?] city at tiie credit hank ' f which he was a member for two-thirds of i s nil value. The va rit us ereilit banks have received from government the pri-. liege of U'ulng ptum'-t riVfc or mortgage dee Is. which arc pieced in the hands of the mortgagee, who, however, has nothing whetevi" to do with the pr iprietor of the estate on which he has advanced toaney. I.is debtor is the whole 1 and- haft or district, whicli'coHeets the inter eat of the w? that hat a iieen a Ivan l to the ear ions tainted prnpt .-to: and t re, loses the mortgage if the ii. e e-t is lmt fMuWtly p.id np. If tlm martgag o contract- l.cw debts, tlic l.nuhchiP. as the linl ter ot the mortgage dee - j ii.bi iV;>) ha? precedence of all other c|editors, ihe system lias proved a -ool o 10 in I'm- hi, but i' ei'ii.os tube seen whesh ? ? it will '? c uahy .successful when transplanted '.> Austiia. voon -ct'rt.tr.s ix rome. A letter from Home, of tie nth of October. ?ay? The c.\p irtuii n of corn was, a* is known, prohlb. -d 'i iiie h-.rt Unie ago owing to the harve?' ua ing. cm trary to expectation turned out to be insufficient; and n en , r.? tiav.' now been taken, not only to see the p o lilii'i'.n stiicily i b-trved. but to cause foreign wheat to lie imported; also to facitirate the circulation of corn in the in nior. At Home the Dope h ,s caused a number of bakehouse - to l>o established at w hich bread U ?o11 at the rest price, and ihe greatest hene'it has been dei..ed .r< m tlietu liy the po?r ei?--e . TIIE MEAT MARKET OK i* tills. [I'atis t<?et. 18/corrc-pondenee of hon -in .-hipping 'ia iette.] The butchers of i'aris, annoyed at the bound- ?>( to tlieii earning-by the recent tfer.ee of the I'rcfect f t'o lice ate deing ail they mn to neutralise its beneti ?l efficts. They first eon'rired to force up tiie price of cat Us a'the marke's of I'oisay an I N e iui dming the pi t fortnight, in order to raise the rate of taxation of the meat. ?nd probably also to conceil th'' unlawful gains they arere in the habit of realising Hiring hut partly am ended in tnat scheme, snd fuesday being the firs' day the dteree rame Into Operation, they resorted to evfiy petty vexation to <l|?g->,t the " people with (he mea-iire and defeat the object of the munlcl pal authorities, .-otne of them purposely exposed for sale- the worst desciiption or meat. " Veal, in particular, presented the nmat repulsive a?|ieet. from the nunntlty of Idood left la It. when asked for any ? l-eeiil join'., they gnTe ab"iit one-half of what wa i ailed foi. nad instated on making ;ip the remainder with other Inferior parts, pieteudlug that they lieionged to ti e-ame category and that they were authorized to do so hy the decne. If the buyer made any objection he was told, with the politeness peculiar to that class of ?. clety. to apply eleewhcie, well knowing that, having all combined to roree the Drefsct to repeal the measure, fti m the Impossibility of rxee iting It, tin y would expo ilrnca a similar treatment. The butchers of Paris, un l, tl e two previous reigns, were more or lass courted by the government. They were all electors and. the number of the latter being insignificant compared with what it is now. their votes weie not be uisrialned, and they were accord ingly allowed ? curb Uimrte to ? certain extent, " fin ri'Auer.- newt " being tbsn the order of the day. I'nder Ihe protection of the monopoly which ihey have exer i - est undisturbed rb.ee lfttMv. ibe Psrl butchers gen-rally c?l< u atesl on melDine a hiUlb m huleos-ndence in absmt ..k lit B.w aiiic-ih I???tK'.iji i:w -w:' r' V Vc -? in other intnohM of trada a Very ha nil* ante profit, wffl of, n fat r, rintt1iwt0 to nrak. uth rapid fortune*. Bene* iheir rpite. The authorities, however, are determined not to yield. -nl, should the butchers persevere in their opposition, it it nof tMpnbaU* that a dearer destroying 'he monopoly and declaring the trade free will be issued to te'.tle the difference. THE WAR. The cavalry affair at Eupatoria, briefly alluded to by telegraph in the last despatches, is thus described by Marshal 1 elisiter, in a despatch published in the Moai teur:? A brilliant cavalry pngagement toqk place cn the 29th September, at Koughill (five leagues northeast of tup t toria), in which the Russian cavalry under General Korf was completely defeated. The action inaugurates very auspiciously the seriea of operations of which Eupatoria will now be the pivot. As the re nilt of the action we have taken si* guns (throe cannon and three mortars), , caissons, and one lield lorge, with their horses and ofn ues"' J?_rlsoners? cf whom one is an officer, and * norses. Ihe enemy left on the field abiut 60 killed, among them Colonel Andreawski, who has the reputation of being a cavalry officer of great merit. We have six killeil ami :.9 wounded. The.Russian account states that ti.e Russian force con cerned in this action was a corps or observation, consist ing rr a regiment of lancers and a battery of horse artil ltrjr under ucn. de Korf, and at another point a regiment of lancers comroiinded by Gen. Tervelcnsky. They hail ins,ructions to fail back, if attackeil by a superior lorce i"' s*"r Laving 'ost sight of the enemy, who were pur suing Ten elensky's lancers, halted, and caused his men to dismount. Not having placed videttes in p-?per or

der. Korf was surprised by between 2,030 and 3,090 of the trench cavalry appearing suddenly on his rear and right Hank, and he had neither time to got his force in orde: [ nor prepare for a combat. The lancers wore therelore compelled to scatter, and (all back lighting, boss 160 I lancers, a subaltern officer, si* guns, and some of the gunners. The correspondence received from the Crimea this week describee the sailing of a grand expedition, consist ing of 15,000 French and nearly 4,000 British troops, from I la Li li lava, for a destination imperfectly known in the ?! .Tttpha' ''"wevcr, of a Liter date, have tnti mated that the expedition made its appeurauce, but an appearance only, before Odessa, and later tclographR an nounce that on the 15th a detachment of the allied fleet effected a descent upon the Spit of Kinburn, near the . allwater hikes. The peninsula of Kinhurn iB one of the most important miUtary and naval positions on the soutli coast of Russia, at the mouth of the rivers Bug and Dnieper and opposite NicolaiefT. The telegraphic des patch describing the landi-gof the detachment, (and which comes Irom Nicolaleff via St. Petersburg,) state that ? trie number of troops disembarked was inconsider able. Towards the close of lho day six steamers began t *> cannonade the town of Kinburn. The fortress, however replied in such a manner us to koep thorn at a distance and damaged one off he steamers." By their position at Kiuhum the allies place inclose bit cknde the naval arsenal ami port of Nicolaleff, the towns of Kherson ami Berislaff, and the whole region watered by the Dnieper, Hug and Ingoul. ALLIED OPERATIONS IN TIIE STRAITS OP KERTCH. DESTRUCTION Ok RUSSIAN TOWNS. 11 , Ws (roul -Admiral Bruat, and a letter from v . IUin"?nee Uiat on the 24th September ? successful attack was made upon Tamiu and Phanagoriu, in the. traits of Kortch. I he expedition consisted of ten gun boats. Bruat snys all the houses at I'hanagoria were destroyed. Sixty-six cannon and four mortars were found at 1 hanngoria, but were unserviceable. At Tainan eleven twenty four pounders were found buried in the sand. PROSPECTS OP THE ARMIES IN VXD AROUND SEBASTOI'OL. [From the London Times, Oct. 10.1 rrom the Crimea nothing new is announced. The Eiench seem to have retired from AJbat, at the entrance of the vsl ey of the Belbok, snd to be content to hold the ridge which divides it fiom the plain of Baidar. As far as wc can judge from the letters of our correspondents K us yet, no cerluinty of a move; but, as these communications are dated ton dajs belbre tke latest telegraphic news, there h?x been plenty of time since ?hey were written (or a renewal of activiiy. It I pleasing to hear of the health and coinlort of our troops and that the preparations for the winter will lie such a VSCUrreDce of hist year's calamities. British force at present amounts to 38,000?fully mil n" "W the honor of the country even on so Win? a find The trench are active, an<J the tiring be tween north and south Hct>aslo]>ol goes on with spirit. The Kiissinns seen determined to bold their position mill??\y ""c'? J" 8 fetliuK 01 national pjido than on pr uc.ples of sound gmerulship. It may seem paradoxi f ir n8^ tljflt.'t lfi not our interest to drive theui ou of the Crimea, but we fully believe that ihe losses in men and money which the Cmr will suffer by a persistence in hole ing the present positions will w eaken his power lor ?1L.1i TStrUgglVTe !1,ftn if Lis generals had re treated at once. The la it deserters have come Into our lines lagged and shoeless, und report that such 1 the condition ot all their comrades. Provisions tin y seem to bare in sufficient quantity for their wants but o' clothes and means i f protection against th? 'climate le' U n,u"tfce remembered that the difficulties befoie the nliios are not fewr. The Rusrians, in gicat force, aid with a knowledge of itfaekld ??? 8 ,t,w,lrnl I'OHiion difficult to be uttaiked. 1 key con only he openU,W againU rffaiuallii h, r1?/"?. M mia a"'1? ronteti. c' "Wee >/ thix l.intl is one of the mo*t dangerous n genet al tan w opt. Holding ? implie: opol as their ceu ,a position, ihe Russians can strike at u corps from Eu paloiia or strengthen their line towards the -south ?? it pleases them, nod without fear uf interruption. Ana' tack firm ti e south requires the gicalest caution, and something of the luetics of a liege. 'ihe allied army though large, u .hit hardly tuJUieni fa the east, j.lan oj <:j<i< ti'.iis nyinred. A ; m ill force advancing from Luna ? erin would advance only to deal ruction; iuitnense bodiea of troops would he necessary to distract the enemy siiffi ciently lo allow any of the southern passes to 1 e force) or to nuihe the detoui necessary to turn the Russian po sition trim the eastward, should th.ri he possiole. \W have also to guard the routhein side of Seba-topol. "huh the ill,my might r.oaupy in a day. All th 'sc ihu gs Lave, no doubt, been considered by Marshal IWis Mtr. and have induced the caution with which he acis. I'l tK in riant'*1 aud J-ugland there wrh a general oxriec'ft. tion that a campaign would follow immediately ou the capture of hcbustopol. That this was al.-o the belief of '1 e governments, and orohubly of the generals them selves. is ti ideut from the uspension of telegrapbic iti telhpnice. It is not likely that any commanner or state, man wcnld thus excite the minds of his countrymen v lib' ut a cause. But nea.ly six wieWs have now ekaflhwt und we knew thut^ the urmies me motionless, or nave orly taken up petitions from which th?y may eommetiC' rutuie operalions. Thtre may, indeed, nil! he time to strike a blow, hut ngrtnt deal must now bet huace which wa- before crituinty, Hniu may -et in or not colt may begin isrly or late. Adil to this that if we have been pre 1 Bring, the Russians have iiecn pre] uriug ul-o. A (.oin. - lu'f contest mu. t take ] luce, and it i- possible tbut. the inch mency of tl.r season mnv epaiate the rom hamnts before it is decided. We halt be glad to hear, ana wc still hor<e to hear. < f a general advance; hut she old it he 'Psolved to wait ibe two counti es must Is c< Lt. nt. kaiicli disappoint meat wi 1 no d ,ubt tie fcl but it is a subject on which we must take it tor granted that a ' ommai:uei-in-( biet is right, -bould we within the piesent year gnin pish Ions which wilt in-ure Hie destruction of tiie (Varhutlding yard.) as well as he at era!, and tender more easy the expulsion or hi- ? ui r< m the (rimes it cannot be -aid that the autumn ha been whollv lest. SITUATION AND IMPORTANCE OK KINBURN. [From Die Moniteutdela Untie, October . According to the last accounts from the Crimea the army under the rnnm.nn i o' Marshal i'ellssier had already advanced, deeplte the difficulties ol the ground, HO k il< metres from r * bvetoprd It now occupies position* com rnii riling the defiles of Vornutka and Bnyuk-Mlskntn:. *hcr ce the tnetuy retired <>n i*s approach. Wo miy ex peet fr. m day todoy ai me<!e isivc <? gagmient, which, w. ore confident, will be followed by the immediate evacua tion cf the Crimea by the Russian*. While our lun! (??rcei are p'Opn-ing for f.rsb Victoria., the allied squadron*, aa we leatn from a despatch of I'tince Oortschskoff. haying quitted their anchorage at Odessa, haveartivfil at tin distance of three miles trout Kin burn. Kinbtnn is a Rus-iau fortress situate about three Kil- metres smith of ftczakoff at the extreme end of the lake tvbieh is formed hy the -luggish waters of the Dnieper ami the Bog. V\ hat is now the actual dea'inatlnn of our squadron* Is it ntersnn or Ntholaiell they propose to at tack'- No one yet knows. However that may he. it i. te res'arr. in order to force the parsage of Kinburn, to tulte ir-fnii n ? t Oeankoff, a city commanding the strait, d lhe citadel of which baa b?en tendered memo-able by te pallant di fence of fia?Min I'aaba. when the liuaaian a iy -eiied that city Ocakoff ta a position of ?uch importance, 'into it is at the same time the key of Cherson at-' >f Nik' IniefT, that tl-e Russian have doubtless construe ?d tlime t ew fortification*, but it will lie an easy tn?k >r us, with our heavy gun-, to silence the fire of the enomv. anil protect the landing of oar troops. Chorion, situate at trie mouth of the Dnieper is the emporium of th* commetce ol that river. It is Die port of TitkoUieh, and re rive* the productions of the interior destined for Odessa, and the war materiel sent frt m Western Unas a. and toi warded thenee to the Crimea through the Isthmus of fereki p. The mute followed hv the different rein 'oreements ariiving from Bessarabia extends along t ie lake, and would be completely evpo-ed to our cannon the moment we should hare penetrated into the llinnn of tl.e Dnieper. The tiavul expedition has thus a moat ae rlnu* object to accompli-h. the result of whleh will have a decided influence on tlie sub eqnent operation* of tlie war. Whi ther we rarry Cher? n by a hold coup tf? motn (for. though inaccessible to teasels in consequence of tlie .shallowness of the water, It may still be taken hy a land force i. or make good our ground in the neighborhood of the llman, after destroying OlMkuff, we CdretuiDly inter cept all communication between the Rossi ,n continent and the Crimea; we will, moreover, prevent the Russian* ft em building n new fleet, ti e hulls of which hare h. en airs*, y constructed at S'ikoUiidf but which cannot he aimed' and equipped once the arsenal, of (llnboknl and Ocukoff and tne sterea ot Cherson are destroys*. A letter fmm Odessa of October fl, says:?I havj been informed by persons in the OOmmlsaanat at NikoiaiefT and Cheason that the passage between Kinburn and 0? i?k( (1 has been tendered quite Impracticable. I'pwnrda ol hO boat- laden with large atones and fragments of ri i k* 1 ave '.ten sunk slong the channel oyer a space ot *t least two yer.ts. a narrow canal only having been left for navigation. Thus vessels wishing to enter the liman will have to pas* quite clo e to tlie fortification* under the very guns of Kinburn. ihe latter Is regarded as a forties* ot the tirat das., owing to the immense work* 'town up around it since the landing of the allies in the Ct n.ea. The same progreae has been gone through at the mttance of the Bug, which I* flanked by two large utteiir* on either side. All Die vcecls Die Russians could procure have tieen sunk there, and no boat, hoy ever light Its draft of water may he, can enter the river, ('lily one very narrow parage now remain* open for the Ki.i lien 1s>at? which proceed from Nikola left to ('hereon, k ii hum, Ocmkof, una S'-mrtimc* even to 0>!es*a, on ml l|i?iy ? ctvlce; but on the lust appearance of danger an . XL W? Kft . Of Sli.BC-, mis, hi., tia^.d -y kU it up coin to ?Wo v..? Vu Dondou limes, 0*:.. 10,1 operation ^u**'4n M ount of a new SndS *wB LZL^l iVi "? ,,ie 16,b tho&giish ?fiStS.* ?inbu"i. ?* to from tke d.lt Kinburn; the fortretHretSLd U>a?*i* k**11 U) Lombard On the Iflthl ?uonMe took' nU^TJ^"" *M in^ of Kinburn and the gunboat* of the aides 'iTu??* be gathered from the nuroort Vf to 5 *\ra,,ch u to Petersburg It is etiSenTtL? th? *?*? ,H?? ** may be their object, have not been braught to i Mnt?P*fr a tew hours wo may hear of acme more <SeLl?? ? i?" n a few days we may receive the Lws of important operations. Our readers need mvFrLVIt m"r? that the presence of the fleet in this quarto? some attempt against two fortified towns to which the strength of the enemy chiefly lies. Kinburn I. situatod at the extreme western point of a ,*nin.ula whfch fcitos the southern shore or tho estuarv ?r Vw? Dnieper. On the opposite side is the celebrated Oczahoff, the capture of which by Catherine gave M' torv a -A!,nguUr in ?""? Parliamentary biHtory. The projection of these promontories and the shallowness of the water leave only a narrow cltannel ol less than ? mile in width, by which the Dnieper and the hug ran be reached. The water near Ocnskoff and Kin burn is nowhere more than four fothoms in depth, aud immediately the gulf of the Dnieper is entered, it shouls to three fathoms. About 60 miles east of the entrance stands Cherson, at the head of the delta of the Dnieper ? -ru DOrlb ?4 4 wilderness of marshy islands! Ihe liug llows into the gulf of the Dnieper and about 35 miles up the Bug is Nikolaietf, the build ing yard of the lllack Sea fleet. Kinburn and Ucxakoff therefore, form the towers of the gate which leads to two' <i Russia's most important military towns, it has be-n generally said that Odessa U the storehouse which sup plies the Busman armies to the Crimea. We believe this conon to be oDiy partially correct; indeed, a little examination will show that the town does not lie between the chief corn growing districts and the trimea, and that supplies would he token out of tbeir way by being carried to Odessa. There is | every reason to believe that Nlkolaieff, and still "r? tbe ?hief grauaries of the Russian armies, or at least that through them one line of the It'Ts ^o!wr?C? si0*hV'C *?. ,on? ""PPlfed Sebastopnl. It is with great salblhction, therefore, that we laarn that ll'liert ??? a" a',U*r.er ha* beCa threatened by the allied fleet, and wa hope ihat the Admirals have the means of etiiktog a heavy blow within the present yeir. It is now evident that tho appearance before Odessa was kofl 'The Sl'u 'ntCD(le<1 *0 draw off troop* from Ocza koff. lie allied forro on board the Heat is said to con sist of several thousand men, of whom 3,600 are Bvitish troops, ft appears to be a part ot the British force which has uiado good its landing in the nrighborhood of Kin hum; but the resulta of the expedition will, no doubt depend mainly on thenumbcrand efficiency of the smallej vessels. Ihe telegraphic despatch from Odessa a few days since stated that 80 vessels wese-in sight of the bar. JtfcrS h? concluded thn- nearly the whole force of gunboats and steamers is employed on tho expe dition. Both Prance and England have l.iloly sent a large number of these crait into the Black Sea, and the la-tre cordod exploit is given in our impression of this day. (tn the 24th of September Admiral Bruat despatched Com mander lionet, with 10 gunboats, a despatch-boat, and ? steamer against la inn n aid Eanngoria, v hlch stand pear each other on the eastern shore of the Straits of Rertcb. lbw email fo-ce sufficed to destroy the towui tn spite of 800 Cossacks. Every building wlil-h could' shelter the Russian troops on the Kuban during the winter was denoliahed,a quantity ot cannon wits taken, and a great advantage gained, without as it appears, the loss of a upgle man. The position of Yenikale is by this operation rer.drrod moro secuie duriDg tho period at mnV'u'i s ilV Ty 'f ,rozen' (ronboats have pioUhly by this time been added to the force cfT the mouth of the Dnieper. The Emperor of the French sent out during the cummer a considDiable number of the Rhone steam brats, and their small draught of water will allow !> em to ascend the stieam to suite of natuial and artificial obstacles. It may be ho, ed therefore ,hat tho allies will be able not only to roduco Kinburn but to T.'rJr ?\ ?JPt;r?lion8 against the cities which it protects. Toe ii osts of the ensuing w inter nmy set in sufficiently eorlv to retard the work tor a time, but the country will be glad to learn that at least a commencement ha? been b"5vi-- i "<0nto announce the destruction of loth hinbuin and Octakoff. EXTRA DEFENCES AT ODESSA. An Odessa communication, dited Octobor e, gives the following particulars as to the defensive works lately erected in that city:? J merchant# hnvo observed with some uneasiness ?hat since the first of this month two of the six war steamers of the miles, which maintained so strict a block ade here all the summer, have weighed anchor and stood out sea. The departure of these vessels was attri buted to an extraordinary motive, it was generally be. iltved that they were gotog to meet u formidable nav.i! force about (o apj ear before our city, and expose it a sicond time to ihe horrors of a bombardment. iThe greatest alarm in visible on every countenance, notwi-.h standingthe air of confidence assumed by the inilitarv authorities, it this second misfortune should occur to complex the nilii of our commerce ihs magnificent pa lace of Prince AVoror.zolf would be the first building knocked to pieces by the fire of the allies. Our military engineers liavc doDe their utmost to save it from destruction. Tiey have planted six howltrers ou a height close to the wa!l which icparates the Prince s garden from the Boulevard. Tho thickness or tlie wail l,as been doubled, and embrasures have been opened in it to enable a battery of Hold ar tillery placed to 1be Pulace court to play on the assail, ants. Besides ;be large battery of thirty-six guns erected last April, a second ballery, ol semi circular form, con mining twelve guns, and coium ending the roadstead, lias been also erected. It is hoped that the In'ler will be sufficient to pi event any hostile ye* el from entering the military poit. !:iucestinui er the military engineers liave censtr uctcd a new battery of twelve pieces ef the large ,t calibre on ihe giouud to the west of the colooude, which will sweep al! the approaches in the dtrecion ef the I'eicsip. There are, bo-i|M, ot intciv.il- along the garden tenace, pieces of heafT calibre which muyat a moment s notice be brought forward and t urn a so ond liyit g battery of sixteen guos. [Vienna (Oct. 15; Correspondence of landon Timo-.l l.uiing a very wraim discussion, whi b look place last night in my picsence, on the subject of the menaced K n.baidmc nt of Odessa, Nntue retcarks worthy of men tlon wore made by one ol the $peaker8f whose family ban b i g lesii'ed iu the place. Wheu Admiral Dundas s one 1-j moiiths ago appealed before Odessa, it van. to all intents sod I urpescs, an open city, and might hive been destroyed witlu ut difliculty. "The allies, however, with a human i:y which reflects credit on tbem fired at the batteries which the Russians hud erected in defence of the port and did not attempt to injuie the loa n." It was further ?sid that Ddesia is now strongly fortified, ami well de fendtd by numerous batteiies placed .1 /. ar iI'.mu, and armed with and 48 pounder . It hs- l>een rumored that'Adinii al Burnt od the 8tb made certain proposition to (leeoial Count .rtn gonou, liut the Russians either re fuse to give credit to the icport or exjuess their convic tion that the Governor of OdeMa will uot niceptuny hu miliating cenoitions. The proposals said to hn\e been iu?de by the Krench Admiral are:? 1. 'iu deliver up to ihe allies all the property belonging to the cir wn which inay uow be iu Odessa und in tin- port of thut city. !i. Tv suirender all the vessels, supplies and materiel 01 war. 9. 'lo give inlo the bands or the alle> the CJuarautine Harbcr, anil to withdraw all the guns from the strand I afteiies. Ac< onlit g to tlie Frankfort Port ZiHung the NiknlairfT despatch w liich contained the foregoing intelligence made mention of the appealanoe of another division of the ttect "in the bay of klnbura." The partl-uns of Russia aver that the allir> would gain nothing by tlie destruction of Odessa. "beer.use rlaypf statlcus t r the troops could lie (cade at Ciadcnlza or Dulnick," w hich arc at a shortdi laiii e from the great commercial port; but they are pro bably ignniunt that Odessa has icry extendvc barracks, vnrthoUkes. l,o.-| itala, and an arsenal, which the other two plarcs nave not. The person who spoke Inst uight of tiie <left tiers of Rdes-a observed that if the Allies intended to i fleet n land ng thi re. and then to march to Nli.ohiieff rr t ciskoff, ' the liombardmeOt of the tilaee would tie ex cusable but under no other circumstances." A reason which was tiveu why t/rte-ei should not be injured wnr that "the ear was just as unpopular In thai city as it was in "lie other {arts of Southern Russia." REPULSE OF THE RUSSIANS AT K \R8. From Russian sources, (.moral MournviefT* report and a letter liom TrcbitonJ, we hare accounts of the repulse of Hie Russians, with great loss, in an attack which they irisde on the forties* of Kara Sept. 29. (Jen. Mouraiieff ?ays :? At 11,e beginning tlie attack was successful, but the po sition and number* of the enemv lore I us to withdraw. Notwithstanding this and a heavy lo-s, our troops tic too i tern bnnn'is ami a stand of color*. The blockade of har* Is <e-established. the account via TreMr.nnd gives more particulars, and state* that the Kusiians were determine] to raise the siege, it states tliat at one time the Russian* succeeded In taking two bultories hut liefor# they iiad time to turn round the guns, or even to spike thent. the Turk* rushed tipi n them with *u< li vigor as to regain possession of the hstteriei and deride the fort one of the day. The Hus/dan*, fmiously repulsed, fell hack ijvon thrir comrades, who wi re thrown into confusion. The Turns then ruslo d nut (it the fortress and massacred an enormous numhei. This account states that, though a large number it killed and wounded Russians were removed. 4.000 were left dead un der the walls. Two hundred tverc taken prisoners, and si me pieces <1 nidnaure captured. Several Itiis inn officers of liigh rank Were killed o wi untied eatly in the action, vrhreli lastei eight hours. tin the 24th*Fcpt., five cays lielore thi* event. 4,0o"men of i mer I'aiha's army, serif to raise the siege of Iwi* by threaten fug the Russian provinces of Aliasfd. Mingrelia. In. 'i:ia i.orgll and Tiflis. fthe capital; landed at S?u ihnrn I ale, inAlia-i*. Their active ow-iations. however, it is iinderstood will lie much retarded by the la'eness of the season. The King of frusala and III* Army?Warlike Vspli allure of hi* Hsjrsly [Perlin (<let. 17.) Correspondence of Is.nlou Timee.] tin occasion of presenting to the King the sword that the (flirt r* of the aimy have subacrtliedfrr, the I'rince of Prussia used the follow lug Word*:? The representatives of your Majesty's army appear lie fore von in un unusual manner and to |ierfoim an un usual act. I abounded respect for your Mejesty as our Kit g and Captain, and the recollection of the gracious indulgence which we have so frequently eapcrieneed at yonr Me jeaty's hands have alone emMloed us thg? to appear before yon. To-day the army celebrates the an niversary on which your Majesty, now half a eenturr bark entered it* ranks and became its companion in arm* ?an eta frill of the most Impassive recollection*. Mot a year had passed before your Majesty was called to srit nese the cruel rtestiniea that t.efrU the army and the cmntry (IMM). Hut your Mnjesty was then ilo a wit res* how our (iiyul lather, eliminating all that was old and obsolete, with Arm and suie hand called Into Ufa n new military organiratbm founded on patrlorlsm an] honor. And when the K la*. tafwhom your Majesty in ? he darkeat moment of our llveegrre the name of Hero King, (Helden Konlg ) summoned hla people to aim*. ymr Majesty Wa? not ? nlv a witness, hfal ? U.awai W-iis-t *-r UsC attic W r. i , .ue-i.:,.; it mhltd. i Me ann-tlj of il i Pru?i ian sum;, I'-'bon , ,co was restore), an ele ment that bad tesn crested in the moment of need (Landwebr), was permanently associated with the stand ing as my. In thU army jour Majesty rose step by step, till Providence called you to be our King and Generalisxi mo. With unremittingactivity and affe.-iion your Majes ty has ever since cherished this jewel of Prussia and furthered its developernent And when a period caine, which we would all lain sec blotted out from Prussia* history (1848), the army stood by your Majesty In un shakeable fidelity; and. when many of us were called up on to lead parts of it against the enemy, the youthful waniors showed themselves worthy of their forefathers, and the enthusiasm with which the people obeyed your Majesty's summons to arms is a pledge that its ancient de votion to its lineil King is still undiminished and that it is capable of great dec ds. These are the most eloquent proofs of the grit tlture of a nath n of soldiers for the unfiaggingly affectionate solicitude of its chief. No more appropriate day than the present could have been chosen by the army for laying its thanks at the foot of the throne, and at the same time congratulating itself that Providence has for halt' a century chosen its first companion in arms to be its bri-f liant tnucmUe of martial viitues. in token of this un bounded gratitude, the army ventures to lay at your Ma jesty's feet the weapon which, in the royal hand of itg chief, will ever lead it to gliry and new honor. With this aspiration, with w hich we are all every moment ready to offer up our blood and our hves for your .Majesty, I lay .this weapon, in the name of the army, at your Majesty'c feet. Lung live the King !" After ibis, and while the cry of " Jong live the King" was still sounding, the King tsok the sword, had apoefc iff attached to ft, put it on, and unswered with much emotion,? I a m so deeply moved by this proof of my army's lovo and affection, that you must not expect a speech from we. One thing, however, I must say. and that is haw infinitely I tegiet that I was not called, as my departed lather was, to lie your leader also In war. That whieh 1 leel bound to tliank the army lor is, the devotion that I have always found iu it, and almost more ; still I must thank it lor having chosen my nearest relation to bo its spokesman?bim whose happy fate it has been to lead my banners to victory. The consideration that the 1'iince of Prussia spoke a* a soldier in the name of the anuy in the presence of ex clusively milltaiy person* (with the exception of the Mueen), mar perhaps serve to temper the criticism which the recollection of recent events in the field of politics might suggest with regard to such expressions a* the Kiig being a "brilliant ens- nitte of martial virtues;" and "the weapon which in the Royal hand of the army's chief will always lead it on to new glory and honor." Moreover, they have refei ence in point of fact to timet and events that are familiar only to the recollection of those who beard bim, vis., the companions in arms of the King as Crown Prince in the dark days of 1800-19. In 1806 the young Crown l'rine.e, then in his 10th year, en tered the 1st battalion of the Cards du Corps as ensign. 'Ibis body of troops was disbanded after the days of Jena, ami in the following year he entered the newly formed Infantry on the Guard as second lieutenant. In 1812 lie was captain of the staff, and ss such distinguished himself at Gross Gurs-hein. June 16, 1813, he was made actual captian, and took part in the campaign against the French. In the spring of 1814 he was major iu the present 1st Regiment of Foot Guards, which he in the following year led across the Rhine. In the succeeding vear he became colonel and commander of tliut same leglment. but towards the clone of the year he was made Chef of the 1st Pomeranian, (or, as it is now called. 2d, or King's Regiment of Foot Guards.) in this regiment he remained until ;nalled to be Generalissimo of the whole army, by his ascension to the throne in 1840. The King's own assurance, however, as made in his re ply to the Prince's speech that he "Infinitely regretted ho was not called, an bis departed lather was, to be leader of the aimy in war," is one more of the many royal riddle* that the King's speeches at various times have pro pounded. To what period can the King allude when hid martial aspirations were so much more ardent than they have appeared ot late r Was It the 1813-'15 cam I aign against the French, where, however, he served wttli some distinction and won his first spurn Or was it the irruption on the Panes (1848), in which the Prussian banners were very seldom led to victory and the crop of laurels was uncommonly scanty? Or was it in Dresden (1849), when two or three Prussian regiments put down a street insurrection in a murderous but Inglorious con flict? Or was it in Baden (1849), where the King'* "nearest relation" gained no credit by his strategical movements against the o'?7ef ante captain and demagogue, Miernslnwsliir On mounting the throne the King gave liir people to understand that his reign should not he one ot "tiumpeta and drum*," and he has ever since shown h (junker- like dislnclli atiou to the employment of military force. When was it, then, that he burnt with an nnap 1 eased ardor to lead the Prussian banners 10 victory? 'ilie only reasonable explanation of this Incongruous afiirmation of regret, Arc., is. that the King, whose aver sion to war does not proceed (torn personal cowardice, a* was the case with our James I. Tlio Concordat Between the Courts of Rome ninl Austria. [Vienna (Oct. 14) Correspondence of Tendon Times. J llio text of the concordat recently concluded between the I 'a (ml chair and Austria has not yet been given to the world, but the UazieUa ili Venecia has received an analysis of the document, which cannot [jail to have a great influence on the future fate of this empire. Aa coidlng to the l'.oman correspondent of the above men tion? d official paper, the concordat contains the follow ing twenty-six articles :? 1. The Hi'tnan Catholic religion i* to ><e tmiintained and protected, with all the rights and privileges sewed to it hv the paired canons, in all those provinces in wliich it predomiiift'er. 2. 'I I.e Platetum Rrpittin is abolished. 8. The right of the bishops to communicate with the Kipal chair in spiritual matters, as also with the clergy and pernio, and to issue instructions and ordinances In spiritual mnttera is recognized. 4. The bishops alone Save the right to appoint their vicars and counsellor*, to ordain, or to refu-? to ordain those priests whom 'hey may consider unworthy, to found or to divide livings or rec'ories, to orier public 1-r.ij cr? to C nveke synods, to publish pastoral let ters and spiritual rescript', and to prohibit dangerous book*. 5. Ihe bishop* are to watch over the religion* ins trac tion giveu to the youth of the country in u'l public and private schools. All It.-man Catholic elementary school* ?lie to be under the direction of n clerical ins|ioetor. ft. The bishops are to appoint the catechlsta. and no one will be allowed to teach theology or canonical law without their permit ion. 7. Agiecat.lv to the canons or condition* of the Council of Trent (It sat from 1545 to 16r. i) clerical matter* will be settled by clerical judge*, and temporal judges will only me idle in matrimonial matters when they reiite to the spiiitual (should probably be ?' teinp iral") conse quences ol that sncian.cnt (marriage ) 8. The bishop* have the full right to punish the clergy who may offend against the discipline or the church, and to condemn to punishment those trho may offend agalast the canon* of the church. The civil courts will only have to take cognizance of civil matter* an 1 of crime* committed by the clergy, but even then the bishop must pr. vi'.usly receive notice of what I* about to be done. In the prisons tbe eleigy are to be separated from tb. laymen. The immuu'tPs* cf the churches ahall he maintained as long a* they do not Interfere with the pub lie security. " , IP. Dispute* with laymen in respect to the right of pa tronage to oe decided ny ternpornl courts. 11. Oral and written defamation of the Catholic reli gi. n, of the holy liturgy, of bishops, and of priest* Will not be tolerated. (This translation in from the German, but ltrthe (la rita di Vmtzia the a n euce begin*, ' The I mpi tor is bound not to tolerate oral or written defama tion," Ac.) Iff. Tin opinion' of the bishop* of tbe province will bt* taken at toe pre eolation *' new bishops to the I'spal < hi.ir. 13. The blshrp* alone have rights over the-eminaries, (the. lrgical.) and it is for them to appoint the rector-, professors, and tencher*. 14. Tl.e iect-,r- are to be chosen by concurrence (feon l.nri.) The principal digt.italics of the chapter are t<t be n .minated by the Papal Cliair, when there is no right of patronage, The other* are to be appointed by tha Emperor, excepting when there is a right of patronage, or tbe bishop* receive permission to till up the vacant places. 15. To the Kmperor is glv.n the privilege of appointing to si) deanoiies and rectoi is-, when there is a right of pntror.ugc l elougiog to religions and school property, on ronditl. n tha' Ids choice shall full on one of tltree per son* who shall be propose.! by the bishops after a pre vious regular roncurr. uoe rs.) If. The Papal chair, with the consent of tb* Emperor, lots full power to es'sbll h new sees, and to make new di i tsi. its i f tho-e already existing. 17. His Jlaje -1y undertakes to give a sufficient longrn l (if the root' f the word Is amgruere it most here mean iinjerbil . nflnm.tl n.) to those rtctorie* which are at ) re nt wi' ..out thero 18. The property of tl.e church will be managed sr ctdipg to the direction* of the canonical Institutions, and tr. regard to its posse sion those regulations will be f. Hewed which are prescribed by the canons. lit. ihe cl.rgy belonging t" the m masteries have * right to tree communication with th' ir superiors reshh i.gat Rime, ami the latter have the full right to visit fhe convent* in the fm|ire, ami to iaiue circular* re st < riiug discipline. A e. 20. It,"anuastir ... >r have the tight toe.<t?btl'1r uovitiat's (Instltutior - for tl e instruction of persons iu t. n<iirg to retire from the wot 1.1,) and the bishops, aft r having c<me to an untie istat 'tine with tin' gov .nment, to establiih ne w monasteries ana cloisters. 21. The property of the church is declared -acted an.l It v., lth'e The ehutab has aho the full right toaoiuire u< W pr< lerty. i'_ No ?.tj pression of th? ptoperty of the church, and no sale of tl.e .-aire, can take place without the Interven tiesct the i'spal. i air. The tig.it* of the bishops are i tvet lo be tnitlrge.1 on. 2:;. The proi eity of tl.e church i- to be managed sc .< )ding to tl.r , uniuilcal ordinance* A mixed coimnis Ion will he appointed for the administration of tbe va st.! bettedce*. 24. Tbe right tolevy tithe* to be maintained wherever i' exi't' ai n his Maj. aty pledges h!m<elt to give to the (lit rcL a g< cd title to ds'ui them wherever itmaybu wanting. 25. All other matters which are not mentioned in thi? ( oi or fat whl he arrange 1 according to the doctrine* ol tiechuicb, and the sxhting anangeruent* which maybe apf loved by the Papal cliair. The Concordat i* teetered to is. a state law forever, and all 'he laws and agreements which have hitherto teen valid in ecclesiastical matters are abolished through out the .mpire. No opportunity ?(learning what the pub ic thinks of tbe Concordat has yer presented 4t?elf, but it may soMr le | ifcietcd list it will produce on extremely unftvora hie tst'| r'Ssh n. tinny most exemplary Koman Catholic* st.d g. < .1 | at t tots o .nsi' er the renunciation of the PUrr I, in Af.p'i m a nMrtmt for Austria and the dynaoty; but this Is ? matter i n wht-h your correepondent cssen le txpeutad to give an celhicn. Hia majesty the Knpe I..I has always displaced soch seasltiveneas whenever a foitign I'ewei has attempted to meddle In the internal sffai' s of Ins 'mplie that it will probably excite great as t> i shntent ahr ad the* be should have csvinst to re lingo.sii lights tnd privileges which bis ancestors ob is ben fwni the I'arel ehslr with s prodigious ontlay of thi <? serf trouble fte ps-??ges In the 'Vmeocdnt whiet* ps\J? ..tarty strtte me sr.- tbe hdlowinr:? In article ; III sswsUian >i .1;?io4m? -k.aa