CABLEGRAMS.

Oamaru Mail, Volume II, Issue 597, 1 April 1878, Page 2

CABLEGRAMS.

LATEST HOME AND FOREIGN NEWS , (reuter's special, per press agency.) Londqk, March 28. ■ Lord Derby has resigned. He approved of the policy of the Cabinet regarding the Congress, but not of calling out the reserves. Earf Beaeonsfield defended this on the ground that the intended measures were necessary for the peace and security of the Empire. A Papal allocution approves of the past Papal policy. A special Cabinet was held to-day to consider the Russian reply to British demands. Sir Stafford Northcote stated in the Commons that the Russian reply received yesterday adhered substantially to previous declarations to the effect that the Signatory Powers may raise such objections if they think fit, but that Russia reserves full liberty to either accept or decline discussion. This, added Sir Stafford Northcote, virtually closed all further diplomatic correspondence on the subject. Later. Earl Beaeonsfield explained in the Lords that Earl Derby's resignation was consequent on the warlike attitude it had become necessary to assume. He also expressed a hope that now all probability of the assembling of Congress had ceased, and that the balance of power in the Mediterranean was disturbed, and that the advice tendered by the Government to the Queen to call out all available reserves would be thoroughly approved of. (srECIAL TO THE PRESS AGENCY.) London, March 29. Lord Salisbury succeeds Earl Derby. The Government policy is not aggressive, but will prepare for war, although they hope for peace. The Opposition are expected to resist the calling out of the reserves, The ascendancy of the Premier in the Cabinet caused a check. Ignatieff is at Vienna. Count Andrassy is attempting to reconcile England and Russia. The Bank of England will raise the official minimum to 3 per cent. There is a semi-panic on the Stock Exchange owing to the political outlook. Consols are extremely depressed—9-U.

VERY LATEST NEWS. London, March 30. The Standard says that Russia addressed a note to the Porto demanding the withdrawal of the British fleet from the Sea of Marmora. England refused to comply while the Russians are in the environs of Stamboul. Orders have been received at Portsmouth to have troop ships in readiness to embark armv corps in case of emergency. The Liverpool Grand National Steeplechase was run to-day, and was won by Shignal by two lengths. In late semi-panic, the following stocks suffered most severe :—Russian, Bulgarian. Italian, French, and Turkish. The wool market has resumed a calmer appearance; prices having recovered the temporary relapse. The series will close about the sth April. Wheat has advanced 2s owim* to the political agitation. March 31. All the troop ships are being prepared for sea. The First Lord of the Treasury, m reply to a question, said the Queen's message relative to calling out the reserves, would be presented on the Ist April, and come on for discussion on the 4th. The Chancellor of the Exchequer said the time had arrived to take decided steps. The British Government would consent to parliament as to the course to be taken under the present aspect of affairs. Sir Stafford Northcote denied that the British Government had hindered an arrangement for the meeting of a Congress. It desired only that the treaty of peace should form the basis of discussion. The Marquis of Salisbury has been appointed Secretary of State for Foreign Affairs. St. Pktersburgh, Maroh 31. The Journal de St. Petergbwyh states that the balance of the Mediterranean is only threatened by the presence of the British ironclad squadron in the Sea of Marmora. It looks upon the calling out of the Pieserye as a fresh provocation to Russia, who will be prepared to forcibly defend the fruits of the war.