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"The one Idea which. History exhibits as...
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^¦ REVIEW OF TH E WEEK— vage > Our Civil...
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VOL. Til. 3STo. 341.] SATTTKDAY " OCTOBE...
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rriHE Bank of France has resolved to pro...
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
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¦ ¦ > ' : ' ¦ ¦ ' ' ¦ ¦ ' ' ' ' // ¦ ' . '¦ ¦ ¦ ; ¦ ¦ ¦ J $ A it ai L c v , . POLITICAL AND ITERARY REVIEW ,
"The One Idea Which. History Exhibits As...
"The one Idea which . History exhibits as everaaore developing itself into greater distinctness is the Idea of Humanity—the no"blft endeavour to throw down all the barriers erected between men by prejudice and one-sided views ; and , by setting aside the distinctions of . Religion , Country , and Colour , to . treat the whole Human race as one brotherhood , having one great object—the free development or our spiritual nature . "—Hwnboldfs Cosmos .
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^¦ Review Of Th E Week— Vage > Our Civil...
^¦ REVIEW OF TH E WEEK— vage > Our Civilization ; .. 043 OPEN COUNCIL- . THE ARTS- " America 933 Miscellaneous .. ... ¦ 914 Chartism and Socialism 050 ¦ ¦*„« ,,.,. A ^ « « p » t ., i ;* -, •> « t « , « . Mr . -Gladstone in Liverpool and Mold 938 Postscript .... ; .... 94 C Author-Actors . — Perdita at the The Subscriptions for Italy 939 LITERATURE- Lyceum .............. 9 oG Accidents and Sudden Deaths ........ 939 PUBLIC AFFAIRS— Summary ..... . 951 - ' Russian Declaration of Policy ......... 940 The Embarrassment 917 The Chemistry of Pood 952 Continental Notes 940 Jupiter Tonans and the Three per . The Life and Works of Fuller ...... 5 ) 52 rri ^ r ,, ™* ^ q-t The Revenue 943 Cents . 947 A Vacation in Brittany ...... . 953 xuc uazctio voi State of Trade 942 Anecdotes of Patronage 948 Two Novels 954 commercial affairs—Ireland , v 942 PoliticalQuietists ... . .. 949 Early Life of . Washington ............ 955 commercial afi-aiks Naval and Military ; ...... 913 The New Point of Honour ....: 949 Rcprhv . s ami New Editions 95 G City Intelligence , Markets , & c .. 958
Vol. Til. 3sto. 341.] Satttkday " Octobe...
VOL . Til . 3 STo . 341 . ] SATTTKDAY " OCTOBER 4 , 1856 . ¦" Pai ^{ S 5 S ^ . ^ : 3 g ^! - -:- ; -
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Rrihe Bank Of France Has Resolved To Pro...
rriHE Bank of France has resolved to proceed X under a winding-up act against the more extravagant part of speculation in Trance , and the Bank of England has followed . The rate of discount has been raised by the Paris Bank to G per cent ., and it was expected that the Bank of England would follow by raising its rate of discount to 5 A- per cent , on Thursday . This expectation , however , was not entirely fulfilled : the rise was not so high , the date was earlier . On
the Tuesday there was a great rush of applicants for accommodation , in the hope that by obtaining good store at the-Ai per cent , rate , they miglit not only avoid some inconvenience arising from the constriction that was to come upon them , but they might even with money obtained at 4 i / percent , in hand realize the greater profit . The pressure was still more intense on the Wednesday , but the Bank of England encountered it with a piece of generalship not anticipated from that respectable body . It met a day too soon , and struck
at the speculators with an instant rise of discount . The rise announced was onc-lialf per cent . —from 4 ] to 5 ; but no one expects that the Bank will be able to remain one per cent , below Trance . For if they did , capitalists could borrow from tlic Bunk at 5 per cent ., and lend to France at the higher rate , taking nearl y one per cent , for tlie simple trouble of agency ! This is so obvious , ( hat a further rise ruust be expected . In many respects the position is unprecedented . The English commercial public has to conduct its
affairs parallel to France , where a speculation resembling that excited by the great John Lawonly much inoi'e universal and varied—is sustained by an actual increase of bond fide trade throughout the whole community . At no period in France has there been so complete an imitation of the English practice of investing savings instead of lodging them in some store . And at no period ¦
we can affirm , have the manufacturers and the trailers in the commercial towns been so active in collecting capital for the prosecution and extension of their business . The consequence is , that the effect of most commercial movements which tend to a pressure in this country lias bocn duplicated .. The distractions arising from the stream of gold into Franco , the stream of silver outwards , avnd hence to the East , add to the
disturbance , while mistrust at the doubtful character of a large part of the speculation , and the belief that the Emperor will be unable to maintain his assistance of the working classes , add political to the commercial -doubts , and aggravate -both the alarm and the pressure in France . ' France , too , is subject to a drain towards other parts of the Continent which have caught the mania of speculation ; so that it became an absolute necessity in Paris-to raise the price of accommodation as the erentlest means of checking the outflow . It is
probable that the rate of discount in Paris will be raised yet higher , and out * Bank , whatever the usage , must follow . The great potentates of the commercial world have for the moment thrown the royal potentates into the shade . The raising of discount is more important for our trading public than the raising of the Russian ire . -Nevertheless ? , the manifesto issued from Moscow on the " 2 nd of September is one that will strike alarm in the Moderates of
Europe—in those who hope to avoid extreme courses of positive action . It will be hailed by the Absolutist party ; and we must confess for our own part , that we also hail it as the signal for a more sincere distribution of parties on the Continent . It is written by Prince Gortschakoff , the defeated of Sevastopol , the successor of Nussiixkodk , the representative of military Russia , now selected by peaceful Alexander to be his spokesman to the nations . It totally belies the pacific policy ascribed to the new Emperor . It roundly
declares to the Western Powers that the Czar . views with hostility the continued occupation of Greece , that thorn in the side of Turkey ; it scolds them for presuming to interfere in the internal affairs of Naples , whoso king was governing his peopl e " according to his own j udgment . " It affirms that proceedings of this kind overturn the compact which lias regulated Europe during the peace . Russia will take no part in new combinations ; she draws herself to herself , removal " , her
assistance from Governments that thus betray the principles of 1 S 15 ; and although she does not pledge herself to active interference , she implies that upon suitable opportunity . she may strike in , to protect Greece , or Naples , or any other Power , that will act under lier lead . This is a provisional declaration of war against the Western Powers . It is a declaration that Russia intends , if she can , to make Kurope Cossack . We have no corresponding dcclimition , and we cannot look for it , at least from the enthroned
monarehs : it is riot they who / will adopt Canming ' s counterpoise , and announce that they will make Europe " Cossack or llcpubliMtfi" They are , no doubt , pledged to act against Naples ; and if they persevere , Russia will make them act against herself . But they flinch , both from adopting Canning ' s republican counterpoise , and from giving positive effect to their OAvn . principles of Constitutional Government and National Independence .
Thus the Western Powers still delay the fleet which , was . to have appeared in the waters of Naples , and to have given its ' moral support' to . British and French residents , and their friends , on shore , while diplomatic support would be withdrawn from the intolerable -Fjsrd . inanw . Something is going on at Paris which is not yet
explained . Austria . bus thrown out more than one hint , that the French Government must become Conservative in Italy , or must expect Austria to take up . arms against it . The French Emperor has lately given-very positive assistance to the policy of Piedmont . But something still withholds any action from Paris : the reports are renewed that ¦ Uapoleon is dissatisfied with the
manner in which he is represented by his own Ministers ; that on his return to Paris lie will again take matters in his own hands , with more extensive changes than on his last return . "Who cun judge the value of reports where councils are divided , and the supreme President maintains unbroken silence' ? The one manifesto of the week at Paris is a reply in the Monileur to Louis . Blanc ' s letters on Cayenne . If the prevarications of the official journal were nob revolting , they would be ludicrous .
JLurninir to ' the opposite side of the world , we find a new movement in the United States : the Whigs have tnkou up with Mr . Millahd Yn ^ MORii , whose principal distinction is , that lie got through tin . unexpected Presidency without mischance , and that he had the honour of dining with tluit Majjbstjt . The Whigs profess to dread a " geographical division" of parties , nndtliciy strike
in as intermediators , ottering a middle term- —< I ' lLi-MOiu :, the Unionist , pledged to the extremes of neither , North nor South . It is most improbable that so negative a man can at this day eollcct u majority of votes . He must take them from one side or the other , unless , indeed , his pnrtj should ultimately give back to the majority tlmt wliicJi \ , they now abstract from it in a vain eilbVt . Tho ' , XJnitcd States appear just now disposed , uaulqy tb , e I t " \; . ' :
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Citation
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Leader (1850-1860), Oct. 4, 1856, page 1, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_04101856/page/1/
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