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The first objects of the new Parliament will proba-
bly, be the further developments of the principles OF
free trade, finance, sanitary reform, and national
education. Lord John Russell is also pledged to a
consideration of the entire subject of taxation the
question of the continuance of the property tax will
be again before Parliament, and there will be long
discussions about the substitution of direct taxation
for excise and custom duties. George Thompson
and others of that clique will have much to say
about universal suffrage, annual Parliamens, and
vote by ballot; and Baron Rothschld's appearance
as a member will lead to a discussion and repeal
of Jewish disabilities. "The march of liberal
opinions" says Jerrold has not been arrested I;


thought never rests, but silently, and under unexr


pected forms, pursues its course of due and regu-


lar development-appearing openly at intervals in
an advanced condition, and moulding outward po-
Gcies and institutions into harmony with itself.
The new Parliament will have, in one form or
= other to deal with the political philosophy of the


age-not as physical power, appealing to the
sword, but as a moral power, supported by rea-
= son and public opinion" Mr.. Jerrold goes on to
say that Eve stand upon the verge of constitu-
tional revolution" The signs of this are not
think, very evident at present. On the contrary,
there are great many practical men in the new
Parliament, and the few speculative ones who have
been elected to it will make long and tedious
speeches upon the various paadceas which they re-
commend for the removal Of social and political evil
and there it will end and common sense and prac-
teal utility will quietly proceed with their good
work.


A much more vital subject, at the present mo-
ment, than even the new Parliament is the harvest,
and the news respecting it is most cheering from
France, Belgium, Prussia, the Black Sea, and from
every part of Europe and Asia, whilst the uniform
testimony of England, Ireland, and Scotland is,
that the yUa fa ha
likely to be gathered in more successfully. The
weather has been sngularly fine and seasonable, al
though attended with some extraordinary sudden
variations in temperature Thus, on the lst inst,
the thermometer stood at its highest point in the sun
at IA deg, whilst during the preceding night it had
been as low as 50 deg. on the 5th, the highest
point in the sun was II deg, and on the lOth 10.
The lowest point on the latter day SO. The high
est point in the shade on the lst instant was 81, on
the 10Th twas 66. This is great degree of heat
for this of the yearin this latitude. An i'm
board vessels in the London docks, the wharves and
warehouses being SO crowded as scarcely to allow
room to land it.


The bad effects of imprudent speculations in grain
have lately been very apparent, and failures to the
amount of nearly 81, 100000 have been already
announced at Mark Lane. No doubt large fortunes
have been made well lost but it is to be fear
ed that the wild spirit of what was literally gam
bling in bread caused many poor man to suffer
through the diminished size of his loaf during the
last eight months.


1t scarcely seems reconcleable to reason that,
notwithstanding the great increase of railroad travel
ling, the income derived from turnpike roads has
increased since railroads were introduced and an
other striking facs is, that the post horse duties
also increasing, the produce in England and Wales
for ls45 having been gl69,s73, and in 1916
9l72,62l. 1t was quite refreshing to observe the
other day an advertisement stating that "two coaches
would shortly commence running between Cam
bridge and London" The novelty of the thing
may possibly give them success


There is what is called on Change great
fghtness in the money Market" which is ascribed
to various causes. The Times" thinks it and all
similar conditions of the market to be attributed
to the railroad mania. There is so much good
reasoning in the following extract from this paper
that cannot refrain from giving it to you in er-
fenso


g In wha do circumstances differ at the present mo-
ment from the prospect they presented the
Of the year. except that the stock Of bullion upon the holding
out Of which depend safety now O0O OOOL
and was then Is, ,00O OO0i We have it is rue the GER
tanty almost of average harvest but setting aside the pro-
liability that an importation of food greater or less
extent take place in S4S there would be better prospect
of monetary security. 1t the fact of corn importation
that will explain increase in the consumption of sugar in
the first six months of S47 the $50 900 cws
that Of 1896 1t is the pressure of famine and nd
that will explain increase during the like period
the consumption OF brandy of 1885, 900 gallons rum the
extent of 5000 gallons, of coffee 00O 900 bs and
tea cocoa tobacco &c. in something like the same proper
tonto say nothing of the importation Of 900
OF meat and of cws of butter and cheese These are
less uxues and it is usually one consequence of
food pressure to induce economy which shuts them out
and which, by causing the be almost with
bread aone produces reaction. II not deficient
harvest the dread of it, which sends up the price Of


point at which the United States and other countries decline
to take OF u.s. II has not been the food question which has
caused to allow stocks of material reduced
even while the rate OF money only three per cent that
the slightest demand for manufactures causes rise
in their price which at checks foreigners from buying
Again, is not this which sends money up to five and


half per cent at time when general business sconracted
and when the circulation may be termed full The fact that
Of these things will furnish the explanation stares us
plainly in the face and there hardly person who does
know his the real cause of our present state
But nation of shareholders from the highest 10 the
lowest and all keep from each the secret of our ruin


The battle is clearly, have all along proclaimed H.
of life death between railways and trade 1t is useless
TO attempt disguise One the other fall Firm after
firm will be beaten down. and the sacrifices of the past week
will prove only the orerunnes Of what yet TO come Mer
chants may bid seven cent for money! there are
many branches of business that long sustain that rate
but with the temptation of permanent security good as
Excheque bills, will be snatched from them by railway
companies at five per cent In desperation they may bid
higher rate and the railways prevented temporarily from
he rkety tta