LATEST EUROPEAN

Lyttelton Times, Volume LI, Issue 5586, 20 January 1879, Page 5

LATEST EUROPEAN

ISPSCIAZ.2 LONDON, Jan. 17. The Directors of the Bank of England have reduced the rate of discount 4 per cent. M'Comas and 00. have failed for £BO,OOO. Their failure is attributed to the depreciation in wool. The German war vessels Ariadne and Merititns have been greeted to exact satisfaction from Samoa. The rapid advance of tho British troops on Cabul has produced complete disorganisation amongst the Ameer’s troops, and anarchy prevails in the city. There is a political crisis in France, and a change of Ministry is probable. [Reuter’s Telegrams.] LONDON, Jan. 16. The French Ministerial Statement today declared that they and the country were Republican actuated by pacific motives, and promised vigorous measures. In order to increase the prosperity of the Republic the termination of existing commercial treaties was therefore necessary, without departing from the principles of free trade. Changes of an anti-republican nature would be avoided unless detrimental to the interests of the country. The statement was coldly received.

The Cuzco left Aden yesterday. It is announced that the existing division of postage between the Home and Colonial Governments continues until the expiration of the present F. and O. contract. Jan. 17. The French Press condemn the Ministerial Statement as too moderate. The position of the Ministry is considerably weakened.