ENGLAND.

Lyttelton Times, Volume V, Issue 242, 24 February 1855, Page 5

ENGLAND.

COMMERCIAL AM) Al OXKTAKY. — From ike " Times' City Article.) —There has been considerable agitation in the funds to-day, iiiitl prices sit one time experienced a frill i»f three per cent., from which only si.slight reaction has occurred. The chief reasons assigned for the downward movement were the continued (sill wliich has taken place during the past three days on the Paris bourse—the less favourable a|> pea ranee of die Foreign Exchange—a. i'uiIher stdvance in the corn, market, in raising anxiety legarding the operations in the Crimeu as the had season approaches—and, lastly, suspicion generated l»y the conduct of Prussia. In the Foreign Exchanges, this afternoon, tlie rates irenerallv were a shade lower than last post. The closing quotations from the Paris Bourse this evening pieseut si funher decline of a hsilf per cent. Among the rumours circulated was a revived one of an intended loan, hut the movement is believed to have very little other origin than a large adverse speculation. One circiimsisince which has had a little influence in contributing to the recent heaviness of tlie stock market seems not to be generally known. It is said that the Chancellor of the Exchequer has made an arrangement with the commissioners for?the reduction of the rational debt, under which they are to take the third set of £2,000,000 Exchequer Bunds, to be issued on the authority granted during the last session of parliament. To be enabled to do this, it is necessary lor them to dispose of some stock, and several moderate sales are consequently believed to have been effected. Their amount is thought, however, to have been comparatively unimportant. In the present state of the grain market much surprise is expressed in the city at the continuance of the blockade established by the sillies at tlie mouth of the Danube. Wheat which would sell in London at 755: per quarter, is now purchaseahle at Galatz at 215.: but although its transition.would benefit Tuikey no less than ourselves, not a cargo can begot away. The Bank Returns show a decrease in the stock of bullion amounting to £5b",400.

The Loud Mayoh's Banquet—Speech of Lbicn Aberdeen.- This affair, which is a necessary concomitant of the inauguration of a Lord Mayor, was provided ;is usual in the Guildhall, tin Thursday.' -Besides'the timehonoured gas stiirs ;ind banners emblazoned with tlie nuns of the city companies and city magnates, which have been. displayed on similar occasions during some successive mavoralhies, an opportunity occurred lor artistic display was afforded by the alliance of the English, French,-and Turkish Governments in the war now pending, of which the gentlemen to whose liands the. decoration of the liall is entrusted were not slow to avail themselves. The English, French, and .Turkish, ensigns were grouped at intervals around the walls of the magnificent hall, and at the eastern end, immediately over the dais occupied by the Lord Mayor and the principal transparency typifying the alliance of the two area I Western Stales with the Turkish Government in repelling1 the aggressions of Russia. In the reception rooms, also, transparencies were exhibited, representing the landing of the allied troops in the East, and some of the brilliant feats by which they have since been distinguished. The Earl of Aberdeen, in passing through the hall on his way to the reception room, was loudly cheered, and was immediately followed by Lord Palmerston, who was received with equal cordiality. Lord J. Russell and the other ministers who attended the banquet were also warmly greeted on their, entrance. The French ambassador, on his arrival, was loudly cheered, and he was conducted through the.hall to the presence of the civic potentate ; the hand of the Coldstream Guards, which was stationed in one of the galleries, played, whal, seems to have supplanted the "Marseillaise" as the national air of France—"Tartunt pour hi Syrie." The Queen's ministers having Wen toasted, The Earl of Aberdeen said: My Lords and gentlemen, in acknowledging the cordiality.of my reception, and in returning thanks for the honor you have been pleased to confer on wjv colleagues and myself, there are various topics to which, perhaps, 1 might without impropriety advert; but I wish to cto so in a few words, and to allude only to that subject by which the minds of all men are at this moment almost entirely engrossed. My lord mayor, on this day

last year, wlien Iliad llie hotior of being present in this ball, iiiid addressing tliose who were then assembled, we siill continued to enjoy a state of peace. It is true that the prcqiect was then threatening, hut a war was not imminent 4 and as (he policy of Her Majesty's Government was » policy of peace on their pan to endeavour to preserve peace (loud cbeei>). I know it i« the opinion of in;my persons that those efforts were two long protracted, and that we ought much earlier to have had recourse to the arbitrament'of the sword. So far is that from beiti"my opinion, that in spite of the justice of the war, and in spite of its disinterested objects, I am perfectly persuaded that it never would have received the universal support it has met with in this country, ami the sympathy of Europe, had it not been clearly seen and fully appreciated thai every effnrt was employed to avert the horrors of war. (Cheers). I tbiiik.il not ijnprohahle that many of those who have been eager for war may perhaps be found easily discouraged by those vicissitudes to which a state of war is proverbially liable, but T trust that you will never find anything of that sort on the part of Her Majesty's Ministers. (Hear, and cheers) We are deteimined, under all circumstances, to persevere in the endeavour to perform our dufies in such manner as we think our Sovereign and our country have a right to expect from us—(cheers) —keeping: steadily in view the frreat objects of the war and looking- to the permanent interests of iliiscountry (cheers.) Acting:, too, in strict concert with our great ally, I cannot but entertain a hope that we shall he enabled to bring this contest to a happy termination. (Loud cheers.)

>'fit her Lord John Russell nor Lord Palmerston alluJed to the nsir.

Prospects of the Ca3 ? paign.—The Morninjr Chronicle remarks iliat the prospects of tlie campaign appear mainly to depend upon the possihiliiy of the allies retaining their ground and cavi-yinpr on the siege in spite of the obstacles interposed by the approach of winter. Yet to a nation which finds its own in every land there ought to be nothing absolutely impracticable even in this most harassing? duty. Wedo not suppose that the allied generals are quite so fond of umiece&SiU'y Swinter campaigns as some of the volunteer advisers say, but they have, probi bly, foreseen the contingency of a protracted struggle, ami made the best arrangements in their power to meet it. It is most desirable, if "possible, to avert the necessity of an assault, ami to make the rest of the sie«»e operations like their commencement, "a pounding match of artillery." A running stream will outlast a well, and our constantly supplied stock of powder, shol, and shell, will assuredly enable us, as the Duke of Wellington said, " to pound the longest/

British Reinforcements for the Crimea. —The Times, in Noticing- that four thousand men are already on iheir way lo reinforce Lord R;i»hiu, s:iys that these reinforcements are nut made on a scale or with a promptitude worthy of the emergency, and adds :—" We believe we have some 20,000 soldiers at home, liesides some thousands more who might be drawn from our garrisons in the Mediterranean, their place being supplied, if necessary, by militia, ready and willing to di>charge this dntv. Whyshould not all that is disposable of this force bf» thrown at once on (lie shores of the Crimea? Why should our soldiers and sailors be worn out with increased fatig-ue.hy day and niffht in the effort to make 1(5,000 men discharge the duty that was intended for 30,000 ? The'Viines also asks, " Why not send out the ste-im fleet as it arrives from the Baltic, to enable us to be masters of the Euxine during the stormy season of the year, and to keep up in every part of it the umeinitted terror of our arms ? !>