From our second Edition of yesterday morning
LATER FROM EUROPE.

ARRIVAL OF THE STEAMSHIP CAMBRIA.
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Bv the arrival III Boston of the steamer Cambria,
Capt. Judkins, we have London dates to the Sd
and Liverpool TO the 4th inst-one month later
than those by the Hibernia.


We are indebted to Harnden & Co. for copies of
Charles Willmer's American News Letter.


The new Ministerial appointments have oeen
made and proclaimed. Lord Dalhousie having
of Trade, Sir George Clerk step, into the vacant
Vice-Presdency, with the MastershIp of Mint
Sir Thomas Fremante is the Secretary for Ireland !;
he is succeeded as Secretary at War by MI. Sid
ney Herbert; and the Secretaryship to the Admi-
rally thus left vacant is slled by promoting Mr..
Henry Thomas Lowry Cory, one of the Lords,
to be his own servant while Lord Jocelyn Is 10
be the new Lord. Mr.. CaJdwell is one of the Sc
cre.aries to the Treasury, and the Hon William
Bingham Barring, Paymaster General.


We regret 10 say that there is no news OF the
missing packet ships. There now therefore little
ground for hope that they are not lost.


The Rev Sydney Smith, after an illness of some
weeks duration, expired at his residence IN Green
street, London, on Saturday evening he waz In
his 74,h year. Sir Thomas Fowel Buxton, Bart,
died on the 18th ult at his seat, Norhrepps, Nor
folk.


The Cotton market is buoyant, and prices on
sorne descriptions have slightly advanced.


The most important news relates 10 the proposed
alterations Of the Tariff.


PROCEEDINGS OF PARLIANEyr.-The Speech from
the Throne embraced a variety OF topics. AlieI
referring with the increased extension OF trade ana
commerce during the past year, the Speech adVertS
10 the recent yisits OF the Emperor OF Russia aho
the King of the French, touching lightly on tne iae
discussion with the French Government, and eA-
pressing conviction that the maintenance OF the
aood understanding which these discussions might
have impaired is essential 10 the best interests OF
both countries The usual paragraph relating 10 the
Estimates contains an important announcement VI
reference TO The Navy, and points out the necessity
of and increase in the naval estimates for ihe pur,
nose of creating steam fleet TO protect our EXTENDED
commerce and our coasts. The Improvement mani
fes, in the affairs OF Ireland s mentioned WIN sans
factjnn and to the decrease OF political asaton ano
excitement Is attributed the sautary application OF
private capital 10 the railroads and other useful puo


lie enterprises which now occupy attention IN lna'
country A brief allusion is made TO the Charitable
Beoues,s Act. and the report OF the Land Comms-
sion An important indication OF the policy OF MI
nisters in regard TO Ireland IS contained In the pa
ragraph which recommends the proprlety OF I'M
proving and extending the opportunities tor acade-
mICal eQucdtlOn-aQ ILLUSION cH H. L ccl PIcoSC
that he will establish new colleges In various paris
of Ireland for the education OF Roman Catholics,
and propose large increase OF the grant TO May
nooth. The speech then announces another part
of the Ministerial policy which is likely TO excite
much interest in Scotland as II shows that The sys-
tenn of banking which has SO long prevailed IN mat
part of the empire will be brought under revision
this Session The speech directs attention 10 the
Income Tax, and suggests in cautious terms the ex-
pedency of continuing It's operation Tor a further
period in order TO provide adequately Tor me pub
lie service, and ct the same time give Parliament
the means of effecring reductions on other taxes
II concludes by emphatcally expressing hope that
these important matters may be considered IN such
a manner as to strengthen the feelings OF mutual
confidence and g cd will between gll classes, and
improve the condition of the people.


The Addresses of both Houses IN reply were
noted without much discussion -


In the Commons, on Thursday, the 9th, the sub
ject of Agriculture was brought under notice by a
speech from Mr.. Golden, who suggested that The
agricullurlss should Join him in asking tor Com
mee of Inquiry into the effect OF protective duties
on the interests OF the farmers and tenant aborers
Mr.. Miles stated, in reply, that the agucultursts
had no intention of asking for a Committee. MIR.
Bankes protested against the Committee, and ex-
pressed his hope that Government would do some
thing better for the agrlculturiss than mere Com
mittee Of Inquiry. Sir r. Peel deprecated any dis
cusslon on the Corn Laws. AS 10 his own inten-





opposed to the principles he had land down in 1872
{. do MOI believe" said Sir r. Peel that the
change of the Corn Laws has been the cause OF
agricultural Distress and feel bound TO state that I
cannot look to Parliament for remedy for that
distress in further legislation in that respect. think
the restoration of protection is impossible and,
even II il were possible, should not sanction the
establishment of increased protection as remedy
for the distress which, admit, prevails in part
of the country, but which attribute to natural
causes"


On Friday the 18th, Sir Robert Peel brought fer
ward his Financial Statement, the leading feature
of which is the continuance of the Income tax, for
the purpose of allowing the reduction of other taxes
which press upon the public.


Sir Robert Peel, taking as his guide the produce
of the revenue for the current year, estimates the
probable income for the year ensuing If the pre-
sent taxes (ncluding the Income Tax) should re-
main unaltered, at G5l, 100000. According 10 his
estimate OF expenditures there would be surplus
of 900 applicable 10 the reduction of taxa
tion. He proposes to reduce the duties on Sugars
will appear by the following comparative state
ment:


The present duties are


Colonial Sugars 24s and per cent a5s Sd
East India, the growth Of such parts


Import foreign Sugars 32s aud per cent. 33s "a


Foreign free-tahor 34s and per cent 9d


Other foreign. 63s and per cent Cos 2d
Without distinction ofqualitcs Mnscovado and clay
ed Sugars The Government propose establish difference


IN urc between these two classes OF sugar. and make
the duties as follows


Colonial Sugar, Muscovade,. las. 0d per cwt.
| Ditto, white clayed. or prepared as to
be equal thereto los. id per cwt.
| East lndia from places importing for


elgn sugars, Muscoyado,. lSs sd. per cwt.
Ditto. white cayeI &c..........2ls. Cd. per cwt.
| Foreign free labor, imported fom
soUntries having treaties with the


most favored clause Nuscoyado -.23s "a. per cwt,


Ditto, white clayed, 2Ss 3D. per ewt.
From this Sir Robert anticipates reduction in
the price OF sugar, In favor Of the consumer OF lsd
per b.


In addition TO the contemplated reductions in the
sugar duties, he proposes abolish the taxes on no
less than four hundred and thirty articles, which
have hitherto stood in the tariff under various rates
of duty, producing little the revenue, but nvolv
ing great trouble both TO the importers and TO the
cus,om-house officers. The list of these articles
includes some other inportan, commodities


The next change in the duties on imports ia
total repeal of duty on cotton wool, and repeal OF
the entire taxes on experts, including that on Goals


In the duties of Excise, Sir Rosert Peel proposes
two changes, neither of which In the slightest
degree anticipated by tie public. These are the
entire repeal Of the duties on glass OF every de-
scription, and of the auction duties.


Dnes are ia c,sse nm The tollowinr in,oorts af,s-