LATEST TELEGRAMS.

Westport Times, Volume II, Issue 308, 27 July 1868, Page 3

LATEST TELEGRAMS.

Paris, June 6, via New York. Stackleberg, the new Russian Minister, presented his credentials, and had a formal reception yesterday. In the remarks which he made on the occasion, he hoped for a continuance of friendly relations between France aud Russia, on the basis of mutual interest. '1 he Emperor of Napoleon reciprocated the hope expressed by Stack leberg, and thought that the choice of an envoy, who was so well liked, was a pledge of amity. Brussels, June 9. Riotous demonstrations have recently been made in Luxemburg in favor of France. Disorder was promptly repressed and the leaders arrested. Shipping corrected to May 30.—For Auckland—Siarn, Ida Ziegler. For Canterbury—Hydaspes, Blue Jacket, Lady Jocelyn. For Napier and Hawke's Bay—Henry Miller. For Nelson—Polar Star. For Otago— Caller Ou. For Southland —Racer. For Wellington—Asterope, Ironside, Electra. For Otago.—Mystery, Ada, Schleswig Bride. Commercial.—New Zealand 5 per cents., 98£ to 99|; do. 6 per cents, 1891, March and September, 107 to 108; do. G per cents., 1891, June and December, 108 to 109. Bank of New Zealand, to 8f premium.

Some elaborate statistics of the cost of European armaments have been published by Mr Larrogue of Paris, from which it appears that the annual amountof the naval and military budgets of Europe is L 119,392,965 ; the loss of labour by the withdrawal of so many men from productive in--dustry costs £132,174,892; and the interest of capital invested in military and naval establishments amounts to L 30,440,000. This makes a total of more than L 280,000,000 taken every year from the people for the maintenance of military establishments, The Social Science Association have published an essay by Mr H. Richard on these figures, in which the writer says: —"The first effects of this is, that the finances of nearly allEuropeau States are in a condition of normal embarrassment. In Russia there has been an excess of expenditure over income ever since 1832; in 1865 it amounted to nearly L 7,600,000. In Austria there has not been a year, from 1789 to the present, in which the revenue of the state has come up to the expenditure. The accumulation deficits from 1851 to ISO'J exceed L 13,000,000. In France the public debt has been growing at an enormous rate. The funded debt has increased, in thirteen years, from 1851 to 1564, from L 213, 000,000 sterling to L 492,000,000 and tiie whole of its debt now amounts to L 539,000,000. The new kingdom of Italy is reeling beneath the burden of its vast expenditure, to such a degree, that its best friends begin to have grave apprehensions whether it will stand. Official returns state the annual deficits, from 1860 to 1566 to amount to L 114,000,000 sterling, Many of the smaller States of Europe, such as Turkey, Spain, and Portugal, are in a similar condition." The Secretary of the Statistical Society of Paris, M. Legoyt, writes on this subject:—"Let us for a moment suppose that, by understanding with the great Powers, a disarming in the proportion of onehalf was effected. Immediately, two millions of men, of from 20 to 35 years of age, constituting the flower of the population of that age, are restored to labours of peace and at once an annual saving of L 64,000,000 is effected on the totality of European budgets." And the same gentleman shows that this income of £64,000,000 would pay off in 40 years all the European national debts, or complete an entire network of railways throughout the Continent, and provide for the erection and maintenance of an elementary school in every district. While a young lady waa talking about the " psychological significance of dress," and maintaining that a person's chai aster could, to a considerable extent, be inferted from his attire, a foppish young man, wearing a blue coat and brass buttons, inquired, with a supercilious air, what that kind of coat indicated' to which the young lady instautly responded, " The blue is indicative of the wearer's feeliugs; the brass, of his manners."