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• " The one Idea which History exhibits ...
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Contents*:
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NEWS OF THE WEEK— Elementary Drawing a B...
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VOL. IV. No. 148.1 r SATURDAY, JANUAKY 2...
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fTlHE crash and panic on the Paris Bours...
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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Transcript
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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.
Rjp ^C , /"Ton^'V' Vv "%J "V' -V1 '? V F...
rjp ^ C , / "ToN ^ 'V' VV " % J "V' -V 1 '? V f ^ \ M ¦ ' ' 1
• " The One Idea Which History Exhibits ...
• " The one Idea which History exhibits as evermore developing itself into greater distinctness ia the Idea of Humanity—the noble endeavour to throw down all the barriers erected between men by prejudice and one-sided views ; and by setting aside ths distinctions or iteiigion . Country , and Colour , to treat the whole Human , race aa one brotherhood , having one great object—the free development ol our spiritual . nature . "—Sumboldt ' s Cosmos .
Contents*:
Contents * :
News Of The Week— Elementary Drawing A B...
NEWS OF THE WEEK— Elementary Drawing a Branch of The French Crisis and its Conse- LITERATURE P * GB National Education 78 quences 83 Buth 8 » Election Matters 74 Achilli verms Newman 78 Church Ploity versus Church Politics 84 Eanke ' s Civil Wars in Franco 91 The . Madiai 74 Oxford Catastrophe : Committal of Irish Politics 84 Another Batch of Books 92 How War is Conducted in Bnrmah 74 Kinch , the Guard 79 A Voice from India 85 Books on our Table 9 a National Defence : New and Wonder- Criminal Eecord ... 79 The Laundry and the Lazaretto 86 fblghdl 74 Miscellaneous 80 Taxation Seduced to Unity and Sim- PORTFOLIO— _ ., _ .. letters from Paris 75 Healthof London duringthe Week ... 81 plicity 86 The Works of the Old Painters . Continental Notes ,. 76 Births , Marriages , and Deaths 81 Trial by Jury ., 87 Chapter III »* tSS 2 ^^ .:: z :=:. « ?? postsc . pt op , counc , l- ™ ZC ; -SISS £ S 52 r _™ :: zz S « - »«™^ - 2 SS 3 fe ::==: S m—* « M . Luis Blanc ' s Eecent Lecture on The Cloud Overthe " City" 82 What is the True Policy of the COMMERCIAL AFFAIRSgooiaUam .. 77 The Press and the Administration " Irish" Party ? 88 „ , j * , ** ** HoS ^ Un ^ arrVed ' Labourers : " 78 of Justice 82 Miracles : Sacred and Profane 88 Markets , Advertisements , & cj 94-96
Vol. Iv. No. 148.1 R Saturday, Januaky 2...
VOL . IV . No . 148 . 1 r SATURDAY , JANUAKY 22 , 1853 . [ Price Sixpence .
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Ftlhe Crash And Panic On The Paris Bours...
fTlHE crash and panic on the Paris Bourse ( so _ L , long predicted by our Paris correspondent ) , and the sudden rigour in * the Bank of England , are the great facts of the day . That they have some connexion , in the nature of cause and effect , is obvious , though the measures taken by the Bank of England are justified by other
considerations than the mere collapse in Paris . The immense activity and extension of trade in this country has rendered capital more valuable , and not only is a rise in the price of capital a natural result , but to establish that higher price is a useful check upon wasteful misapplication . The measure taken by the Bank is felt to be sound on every consideration .
The story of the successive falls in the Parisian Bourse is also in the main sufficiently intelligible . The Government has been collectively and individually gambling in stocks—it has been needing a great amount of money—it has been dabbling in railway shares , both to engage the middle classes , and to bolster up with a factitious glut of prosperity Louis Napoleon ' s aggrandizing projects—it is notorious that members of the Government
have personally played in the funds , and one of the high officers of the Imperial household is posted as a defaulter . A crash must have come sooner or later , and it commences rather sooner than many had expected . Speculators in stocks begin to feel uneasy ; prices begin to decline ; measures wildly taken to check the fall accelerate it ; holders of railway property take the alarm ; shares fall 15 per cent , and panic is established .
It is impossible to separate the really agitated condition of affairs in France from the extraordinary position of Narvaez . Under orders to proceed to Vienna " to study the archives and condition of the Austrian army , " he stops at Bayonne , and by published letter addressed to the Queeji , puts in a remonstrance against the injustice
perpetrated upon him by her Ministers ; the only effect of this remarkable protest being that he is ordered to go on to Vienna . Meanwhile , Lord Ilowden has returned to his post at Madrid ; and the Spanish Government continues to show a firm front towards the exiled Narva « z . It is generally understood that Louis Napoleon is endeavouring [ Country Edition . ]
to persuade Queen Isabella to imitate his coup d' & at , though his approaching marriage with a Spanish Countess of rare beauty is a startling defiance of dynastic or diplomatic seductions . This " affair of the heart , " after more than one repulse from royal Houses , is at once a surprise and a humiliation to Imperialists , and a pledge of speedy deliverance to all the other parties in France that bide their time in contemptuous isolation .
A totally new turn has been given to the Cuban affair . The British war ships that were ordered to the coasts of that island have found work to do , not in defending the Spanish possession against American invaders , but in seizing the slave ships which frequented the ports under the direct patronage of the local Government . The policy which makes England act as a knight-errant in forcing a virtuous behaviour towards the Black upon certain foreign states , is more than
questionable ; particularly at a time when our fleet may be needed to defend interests nearer to us than those of the Negro . But in the present instance , if the quarrel puts us in the wrong , it puts us in the wrong on the right side . It is said that papers on board these slaps prove the complicity of the Spanish Government . Now Spain has a right to be insincere if it pleases her so to be ; and if she oppresses the Black , there appears no more reason for our intervention , and indeed much less , than there exists in the case of the Italian oppressed by Austria , or of the Pole oppressed by Russia . But
if we arc to quarrel on the coasts of Cuba at all , it would be a comparatively fortunate antagonism that should place us in opposition to Spain supporting the Black , rather than in opposition to the United States supporting the tyrannical , corrupt , and feeble Government of Spain , which undoubtedly has even a less claim on our consideration than the Black . Opinion to that effect is showing itself in unexpected quarters , and we note with satisfaction the newly awakened idea ia the Daily News , that rather than the continuance of the slave trade it would be better if Cuba fell into possession of the Order of the Lone Star .
There is a difficulty in speaking about Australia , because the news is so very important , and yet so exactly like that which has preceded it in the same quarter , that the mere repetition of the words may become tedious . The facts , however , ought to possess the utmost interest , both for our
commercial and our working classes . In the province of Victoria five new gold fields have been discovered , and the yield was proceeding at the rate of more than . £ 400 , 000 a week . The Melbourne Argus , indeed , asserts that the yield had begun to diminish , and we recognise both the independence and the intelligence of that journal ; but we do not observe the slightest proof , of such a statement It mentions the Echunga field in South Australia , where the yield has always been meagre ; but in
other parts the general characteristics do not vary from the old reports . At the same time the anticipated want of labour to get in the wool has not been felt in South Australia or New South Wales ; it was not redundant , and it commanded high wages , but it appeared to be nearly sufficient . In New South Wales the Legislature was discussing reforms in its Constitution , and in South Australia a committee had reported in favour of a new
Constitution , to comprise an Upper Chamber of Magnates , with a qualification of j £ 2000 in property , and eighteen years' term of service ; and a Lower Chamber , with no property qualification , elected every three years , by universal suffrage . They are learning how to appreciate the working man in South Australia , one of the most intelligent communities within the whole range of the British dominions .
Before movements so important as those abroad , the re-elections of our own Ministers , dragging on in their third week , possess comparatively little interest . Mr . Gladstone is returned by Oxford University , after the most tedious contest ever experienced by that body , and Mr . Keogh again representsAtblonc ; but Mr . Sadleirhas been successfully opposed in Carlow—so far a rebuff to Ministers . Upon the whole , however , the elections have marked a very decided and general support CabinetIt
throughout the country to the new . is not to lose the advantage , according to a report revived and believed early in the week , of Mr . Disraeli ' s opposition : he is not going abroad for his health , but is ready fo resume his duties in Parliament , witli keener zest . We notice considerable activity in the military administration , and amateur contributions are made to the strength of our warlike means . Lord Hardingc wau at Woolwich the other day inspecting a new American rifle which economises time in an unusual degree . A new kind of mortar for use
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Citation
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Leader (1850-1860), Jan. 22, 1853, page 1, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_22011853/page/1/
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