Montreal herald and daily commercial gazette, 30 mars 1860, vendredi 30 mars 1860

[" PEOKIKtilàL M&ÜAKKI, lFr01 a lhe Quebec Chronicle, of Wednesday.'] LEGISLATIVE ASSEMBLY.^ToiaDAY, 27th March, 1860.MR.TALBOT AND MB.HOOAN.Mr.BROWN- said he was not in the House last evening when the speaker read a communication signed by himself and Mr.Notman notifying the Speaker of the lamented death of the late Mr Marcus Talbot.He understood the Speaker had said that he could not take the responsibility of issuing tbe writ without some action on the part of the House.He (Mr.Brown) took a different view of the law.He understood also that the attorney General had been about to address the House on the subject, but had put it off till he (Mr.Brown) should come in.Atty.Gen.MACDONALD said that when the House was in session the Speaker did not exercise his authority in issuing a writ, unless by order of the House.In the present case he thought the issue of a writ was premature.There was, he regretted to say, a probability, a very great probability, that their lameuted colleague, Mr.Talbot, was no more.But it was only a probability.There had been a case in the House of Commons of a Mr Vansittart who was supposed to have perished in the wreck of the ship \u2018Aurora.\u2019 A new writ was demanded by his constituency, but was refused on the ground that there was no actual proof of Mr.Vansittart's death.If the writ should issue, and it should turn out that by some happy accident Mr.Talbot bad been saved, the House would be placed in an unfortunate position with regard to him and the electors.If he appeared before the writ was returned, it might be recalled, but if after the election, he doubted whether he could resume his seat.To all appearance every one on board the \u201cHungarian\u201d had been lost, but all the boats were not accounted for, and there was just a possibility that some of them might have been picked up.Upon the evidence existing at this moment no Life Inearaace Company in the world would pay a policy.He did not think the East Riding of Middlesex would suffer by delay.Even if the writ issued now, it was not likely that the member could take any position in the House this session.Ho hoped that their lamented friend might still be among the living, but he feared not, and that this House had lost a most valuable member, a young gentleman of great talents and great promise who only required a few years more experience to give him a very prominent position among the public men of this country.Not only could be claim Mr.Talbot as a political supporter and ally, but he was united to him by bonds of intimate personal friendship, and he teared that it was in consequence ot a letter from him [the Attorney General] that he bad embarked on this voyage after the death of his father.Mr.Talbot had thought seriously of remaining in his native land tor the purpose of protecting those whom his father's death placed peculiarly uuder his charge, and he feared very much that it was in consequence of his solicitation that he should come out to sustain him and the Government, of which he was a member, that he set aside his personal advancements, and embarked for this country.He hoped the member for Toronto would not press for the issue of a writ, till further evidence should be received.There was another member of the House not accounted for, and all sorts of rumours were afloat in regard to him.if two members should inform the Speaker that Mr.Hogan was no more, would that justifying him in issuing a new writ?He thought not.Mr.BROWN said he entirely sympathized in the kind and feeling and proper manner in which the Attorney General had spoken of Mr.Talbot.He had the pleasure of making Mr.Talbot's acquaintance immediately after his arrival in this country and could add his testimony to what had been said with regard to his amiable character.He should rejoice if there was the slightest hope of his being in life, but he apprehended no such hope could possibly be cherished.The cause of Mr.Vansittart, referred to by the Attorney General was very different.The case occurred in 1770, Mr.Vansittart having sailed for India in the Aurora which foundered at sea, and at that time when there was less communication than now between different parts of the world, it was possible Mr.V.might not have been heard of for a number of years, though still alive, perhaps thrown on a desert island.But all the circumstances of tbe wreck of the Hungarian were such that there would be no doubt of the verdict of a jury, if required to pronounce regarding Mr.Talbot\u2019s fate.The Attorney General supposed the case that Mr.Talbot might make his appearance after the election of a successor.In that case that election would be set aside.There was only one case of the kind in the records of the House of Commons.In 1580 a new election took place of a successor to a member supposed to be dead.That member afterwards took his seat.Mr.Brown then read a clause from the statute which he said left no doubt as to the duty of the Speaker to issue a writ when notified by two members of lhe death of any representative.However, as a matter of feeling he was willing to waive pressing for the issue of the writ at least until after the arrival of another mail.With regard to the case of Mr.Hogan who had not been heard of since December, he thought it was only what was due to a colleague, to the House itself, and to the constituency of Grey, that the Attorney General should institute enquiries with regard to Mr.Hogan's fate.Atty.Gen MACDONALD said that Mr.Hogan\u2019s most intimate friends were in ignorance what had become of him.He had leit Toronto with only a carpet bag, as if for a temporary trip, having made no arrangements for his correspondence, which was extensive, being transmitted to him.Suspicions that he had met with toul play were entertained, and he [Attorney General] had given instructions to officers in Toronto to follow up any traces which might be ascertained with regard to his movements.jAvr eiulat 1 fwa-ji VJ3 AND DAILY COMMERCIAL GAZETTE.VOLUME LIL MONTREAL, FRIDAY MORNING, MARCH 30, i860.NUMBER 77 REPRESENTATION OF QUEBEC, TORONTO.MONTREAL, AND Atty.Gen.CARTIER moved for leave to bring in a Bill to amend the act regulating the representation of the people in the Legislative Assembly.The object of the Bill, he stated, was to divide Quebec, Montreal, and Toronto, into separate districts, each of which should elect a member to the Assembly.The Quebec Districts he proposed should be 1st, Quebec East,comprising St.Peter,Montcalm and Champlain wards, 2nd Quebec Centre, comprising St.Louis, Palace, and St.John\u2019s Wards.3rd.Quebec West, comprising St.Roch\u2019s and Jacques Cartier Wards.The Montreal district would be \u20141st, Montreal West, comprising St.Anne, St.Antoine, and St.Lawrence Wards.2nd.Montreal Centre, comprising West, Centre, and East Wards.3rd.Montreal East, comprising St.Louis, St.James and St.Mary\u2019s Wards.The Toronto districts would be\u20141st.Toronto West, comprising all west of Younge Street.2nd.Toronto East comprising all east of Youuge Street.y.Mr.DORION said in the West Centre and East Wards forming Montreal centre, there were only 1085 votes\u2014in St.Antoine, fat.Anne, and.St.Lawrence wards 5,219\u2014and in St.Louis, St.James and St Mary, 3,830.He onsidered the object of the Bill, as regarded Montreal, was to disfranchise the Preach Canadians and Irish inhabitants.He asked if persons holding property in each district would be entitled to vote in each.Atty.Gen.CARTIER said they would, and repudiated the idea that the object of the Bill was as stated by Mr.Dorion.Mr.FERRES thought the division, as regarded Montreal perfectly right and proper.Mr.McGEE and Mr, BROWN complained that the effect of the Bill was to give the rich too much influence as compared with the poor, Hon.Mr.LOR ANGER was at first sight in favor of the bill.He did not think it was intended to disfranchise any race\u2014either the French Canadians, or the Irish.The effect of the measure would be to give one representative to the French, one to the Irish and one to the English people.He was not in favour of allowing those who held property in all the\tsections to vote in all.\tThat was, however, only a detail, and would not induce him to vote against the principle of the bill.(Hear) Mr.McGEE requested that the Bill he read at length.The Bill not being ready in extenso, his request could not be complied with and the motion for its introduction was withdrawn.Monday, March 26, 1860.PROPOSED PROVINCIAL TREASURY DEPARTMENT.Hon.Mr.GALT said that in proceeding to ask the House to enter into consideration ot the resolutions on the subject of the proposed Treasury Department, he would ask the indulgence of that body.The measure he would advocate could not be properly called a political one\u2014it certainly was not a party one in any respect.Both sides of the House must admit the necessity of providing that the honest rewards of labor should not be rendered nugatory\u2014that the circulation of the country should not be exposed to depreciation.If there was one measure that should be dispassionately considered, this was tbe one, (Hear,) and although the government had introduced the measure on their full responsibility, and were prepared to support the course they were taking by argument, they nevertheless looked for tbe assistance of the members of both sides to make the proposed measure as perfect as possible, especially as the object was to separate the currency, not only from the influence of the institutions which now controlled it, but also from all political influence that might be exercised upon it.(Hear.) The whole circulation of the country, he would in the first place remark, bad been carried on by the chartered banks.Through them the notes had been supplied and circulated.Thus it was, perhaps, that the idea had arisen in the minds of the Bnblic, that there was a necessary connection between the subject^ of Banking and Currency.But that there was such a necessary connection was an entire miaapprehensioq.(Hear.) The currency properly belonged to'the State.In former days before paper money was devised, currency was entirely represented by the precious metals, and the portion of it so represented at the present time was everywhere still kept under the exclusive control of Government.But the issue of paper money, the representative of these coins, had in many instances\u2014almost, indeed, in every instance\u2014been confided to other parties.States had parted with it, some for one consideration, some for another.He was bound to say, that here, our Banking mstitntions had, as a rule, managed the paper currency admirably.No where had it been managed with greater success.But circumstances had arisen, within the last year, which had shewn that the security the public held was in the management of the banks, not in the system, and the the confidence the country justly had in their notes depended almoit wholly on the character of the gentlemen who conducted our monied institutions Now, no currency could be sound, of which the paper was not redeemable in specie on demand.(Hear.) The vsllue of our metallic currency was already fix-d bÿ various acts, and did not depend on the solvency of any particular institution.The object now sought to be attained was to provide that oiir-paper money should be as sonod.Theone must be as good as the other,\u2014for if it were not so, either the paper money would become depreciated, or\u2014which was really the same thing,\u2014 the coin would rise in value.(Hear.) He would not say much on the subject of tbe two institutions\u2014tbe two minor banks\u2014which bad failed last summer.The facts were within tbe knowledge of every member of the House.He might rejoice, however, tha the evil had not been so widely spread as it would have been had any of the large institutions, or had more of the smaller ones failed.It had, however, induced the government to take steps to prevent its recurrence.(Hear.) The currency of the country should be paper, not coin, because coin was unproduetive-whatever portion of the currency was in paper was productive.If, through the failure of Banks, or otherwise, the country should require a greater portion of the circulation to be in coin, so much would be subtracted from the available capital of the Province.(Hear.) Banking was, properly, the business of th se who had money to lend, either through bearing the responsibility of having the money of others deposited with them and becoming the medium of its being lent, or through having capital of their own.For the money lent, of course interest was given, and the security of private individuals taken.This business he repeated, ought to ha separated from that of becoming responsible for the currency of the country.The circulation ought not to be mixed up with the commercial interests of the Province.(Hear.) Now it was clear, that in asking the House to deal with this subject, a difficulty met him at the very threshold\u2014the Banks had at this moment received from .the public a credit to the amount of the notes they held, and that credit they used in giving commercial accommodation to the country.And he did not shrink from saying that if the resolutions which were before them would have the effect, when carried out of diminishing the capital thus available for commercial purposes, he would hesitate from recommending their adoption,at the present time.For he felt that, looking at the depression which existed, it would be dangerous to run the risk of lessening the amount of the available commercial capital and injuring the facilities for getting out the crops, on which merchant and farmer alike depended.He hoped, however, to show, satisfactorily to the House, that this would not bo the effect of the resolu-sions, but that, on the contrary, they would place the capital of tbe country, available for commercial purposes, in a be ter position than it now occupied.(Hear.) Now, as the currency should be supplied by the State, it was evident that any profit arising out of it should also belong to the State.If the public, as a whole, used paper money instead of gold, tbe public were entitled to get the whole of the profit.The people had a right to tbe advantages of the credit they gave to themselves.(Hear ) It was clear, however, lhat to carry out this principle thoroughly, would be to do injustice to those to whom certain privileges hadfbeen conceded.The Legislature, anxious to give facilities to those who had spare means, to invest them ror the advantages of the people, had given facilities to certain Corporations to issue money, and it would not be right to attempt to deprive these corporations forcibly of the privileges they had now a right to enjoy.Therefore the measure before tbe House was not of a compulsory character\u2014not calculated to oblige the corporations to come under its provisions whether it was to their advantage or not.It was one which, it was believed, was of such a nature as to induce the Banks to surrender the privilege of issuing notes which they enjoyed, while it would at the same time secure to the country a currency from which there could be no loss, and render a sufficient return to cover the costs of adopting and carrying out tbe new system.(Hear ) It mast be evident to this House that, to the extent to which specie was used, either as a circulating medium or as a reserve for the redemption of Bank note?, to that extent tbe capital ot the country was locked up in an unproductive form.To the ex ent to which the public required it to be held, to secure themselves ag dust loss, so great was tbe loss \u2018he public sustained in the use of its own credit.As long as we had a system which required every bank to make provision for the redemption of its own issue, and entailed on it tbe protection of its own credit and, he might Say, the credit of others too, it would be necessary for those institutions to bold a large specie reserve.But it would be at once seen that the risk of being called upon to pay specie for paper was much di minished by having one uniform circulation, and by having tbe whole resources of the country pledged for its redemption.(Hear.) Banks were now obliged to protect themselves against the possible depreciation of their own notes through the deprecation of those of others.During the crisis, when the banks bectme alarmed in regard to their own position, each had to look to that of tbe other Banks of the country.It was clear that one Bank\u2019s failing to make prudent provision for its wants, must necessarily effect the credit of others.The public could not discriminate between them, to a great extent, and the failure of one, in a panic, would certainly cause a \u201c run \u201d upon the rest.This he said without any reflection on any of these institutions\u2014it was a general proposition, necessary to be stated in endeavoring to, deal with the question at all.(Hear.) He was not going to detain the House by mentioning the opinions of the various writers who had expressed their views upon the subjsct of the currency.But he would mention that there were none which could be applied to the system we have had.AH the conclusions arrived at in England had been questioned, both when they were formed and since.The Bank Act of Sir Robert Peel, passed in \u201944, had been enacted for the purpose of deteiring men from wild speculation, by the exercise of certain rules applied to the currency of the country\u2014for res-tr cling the circulation of the country at certain times by an increase in the rate of interest.The result of the operations of that Act had rather shewn that the rules had produced an effect not looked for by their author.We hid seen in the two crises which had arisen since, that the only mode of preventing great disasters had been the suspension of a portion of that Act by the Government.Its principle was that a certain amount, £14,000,000, of government securities was to be held by the Bank, and every pound issued above that was to be represented by gold The result wag that as tbe gold was withdrawn from the coffers of the bank, it became necessary to reduce tbe circulation also, and the effect had been that when there was a demand for gold, for export or otherwise, tbe Bank Directors were compelled to reduce the amount of accommodation they would give to their customers and to withdraw the notes that were necessary for the ordinary business of the country.Tbe business of Great Britain could not be carried on without a certain amount of circulation; it mattered not whether it was in paper or gold.The moment paper was withdrawn from circulation it became necessary to supply the hiatus by sovereigns.Bnt when there was a demand on the Bank for gold to meet foreign exchange, and it bad to part with any portion of its specie, at that very time and on that very account, the t aper circulation had to be calied in, and neither paper nor gold was to be found, sufficient for the business of the nation.It had been predicted by Mr.Wilson\u2014the present Chancellor of the Exchequer of India\u2014before the crisis of 1847, that the Government, in a crisis, would have to suspend that portion of the Bank Act requiring a pound of gold to be held for a paper promise to pay that amount, before any recovery from it could take place.And, in 1847, and 1857 too, the moment this had been done, and not before, gold began to flow back into tbe bank vaults.This was because the people had confidence in the institution, and found it more convenient to uce notes rather than sovereigns.He (Mr.Galt) thought that judging from the example thus afforded, the same effect must follow from any bank carrying on the combined business of discount and circulation.By discounting these, however, the people could have just as many or as few notes as they pleased, while, by hjs plan, they would always bs redeemable in gold, unless, indeed, the whole country should become bankrupt.(Hear.) A good deal of misapprehension existed as to the possibility of (banks expanding their circulation.They could in this country do it for a time, by giving certain parties credit, or sending bills to remote portions of the country, but only for a short time, and these operations must be fraught with disaster to themselves.The country would not use, either in the shape of bank notes or coin, more money than was required for the business of the country.If a man kept a $5 bill in his pocket for a year, he lost 2d.Nobody kept notes, but pat them into business, to avoid ioss of interest.But the transactions of the country were larger at one period of the year than at others, and at such times a larger amount of circulation was required.But it was fallacious .to suppose that, by any system, more than a certain amount of notes could be floated off.It must be borne in mind too, that the cause which bad produced failures in this country was the exhaustion of credit, not of circulation.(Hear) The real check to speculation\u2014tha only check that could be properly imposed, w_s a rise in tbe rate of interest, making it more difficult to obtain money.Speculation arose when money was cheap.As the demand for money increased, the rate of interest increased too, until it reached the pointât which the speculator could not hold\u2014then he went to market, and the price went down again.(Hear.) He might refer the House to tbe system under which dis isters had arisen in the Western States.Small banks arose, obtained a certain circulation for their notes; and thus procured means for carrying on operations.As long as these operationswere productive\u2014as long as they made a return within twelve months or so, they promoted the prosperity of the country.But very often these institutions had gone into fixed investments on houses, mills, &c.The result was that their capital became unproductive and could not be used to redeem their notes, and when a contraction of the currency occurred, their bills came back upon them and could not be redeemed.The same cmsequences would have ensued here too, if our banks had been in the habit of depending on their circulation for the means of discounting.That was, however, not the case\u2014our banks had a large capital of their own, and the credit they received from the country in the circulation of their notes was only an assistance.(Hear.) And wnile on the subject he would say it would be well for the country if the difference between fixed and floating capital were better understood\u2014as it lay at the bottom of tbe difficulties every new country had to encounter in a greater degree than old ones.Floating capital was that used to carry on the ordinary busmens of the country\u2014 applied to producing wheat, or some manufactured article which returned the capital invested.Fixed capital was that invested in r »ilroads,#c., from which only the interest was given back.Mr.Wilson, in a book, entitled \u201c Capital, Currency and Banking,\u201d had set this very clearly forth, and his remarks were so applicable to Canada that he could not forbear quoting them.\u201c It is quite clear that no community can, \" without the greatest inconvenience and de-\u201c rangement, increase its fixed capital faster \u201c than it is able to spare labor from tbe produc-\u201c tion of those commodities on which the com-\u201cmunity depends for its daily subsistence.\u201d m\t\u2018\t*\t*\t* m *\t*\t#_ \u201c The moment we begin to build houses, to make roads, or to.improve navigation, however \u201c much they may add to the facilities of future \u201c reprodaction, while there is the same consump-\u201c tion of bread, meat, clothing, tea, sugar, &c.; \u201c there is no immediate reproduction of these com-\u201c modities, or of anything that exchanges for \u201c them, however good or profitable such works \u201c may be as far as the interest or rent is con-\u201c cerned which they yield.It is, therefore, clear \u201c that they cannot bs undertaken, except with \u201c the surplus provision or capital which is left \u201c over and above the quantity required for regu-\u201c iar reproduction, aud that this quantity must \u201c always limit the power of a community to in-\u201c crease its-fixed capital.\" *** * * * *** \u201cIt is, therefore, not difficult to see that it be-\u201c comes a most essential thing to the continued \u201cprosperity of a country, that its floating capi-\u201c tal, on which the continued reproduction of \u201c commodities of every day use depends, as well \u201c as the continnoflh employment of labor, should \u201c not be withdrawn from those necessary pur-\u201c poses, and converted into fixed capital, in a \u201c greater degree than the surplus accumulation \u201c of the country will admit.\u201d \u201c It is quite true that, for a time, while the \u201c process of the conversion was proceeding, \u201c ihere would be a momentary appearance of \u201c great prosperity.* * * * gat the ulti-\u201c mate effect of such a disturbance or misdirec-'\u2022 tion of the floating capital of the country must \u201c be to create a great scarcity of it, which will \u201cbe evinced by the high rate of interest, and \u201c ultimately a great diminution in the de-\u201cmand for labor, in consequence of the exhaus-\u201c tion of the fund on which it depends for con-\u201c tinuous support.\u201d \u2014In Canada, at tbe present moment (Mr.Galt proceede 1) the continued distress of tbe country was more attributable to tbe fact that we bave too much diminished the reproductive resources of the country, than to any direct loss of the croîs themselves.(Hear) Persons had invested in Bonds, land §¦:\tMÀÎÎCH 8u l§6©, IS IT TIME ?BT HERBERT FRY.When a duty's to be done, Or a labour not begun, Oft our daily task we shun, When postponement is a crime ; And, for temporary ease, Waste the hours by slow degrees, And inquire, self-love to please, Is It Time ?One would think that if'twere shown That an evil let alone Still has large and larger grown, Since its trivial birth and prime, Some one having power to cure Hearts diseased or minds impure, Would not ask, while these endure, Is It Time?Why, when after strictest test We\u2019ve discovered what is best, Do we fold our hands at rest, In indifference sublime ; Drifting, drifting with the years, Down a dark life-stream of tears, Ask, as wreck on wreck appears, Is it Time?Shall Experience stop the way, Or divert, and lead astray, The good purpose of to-day, Ere the hours of morrow chime ?Shall the generous wish arise To be stifled in the sighs* Of the man who vainly cries, Is it Time ?What is good for thee to do, Find thou out ; and that pursue, Keeping still thy purpose true, As from height to height you climb.When a good deed's to be done, When the labour\u2019s not begun, When self\u2019s battle may be won, It is Time I MONTREAL.HERALD STEAM BOOK AND JOB PRINTING ESTABLISHMENT, J¥o.209 Notre Dame Street.Books, Pamphlets, Magazines, Insurance Policies, Programmes, Catalogues, Posting Bills, Hand Bills, Railway Bills, Steamboat Bills, Circulars, Invitation and Funeral Letters, Druggists and other Labels, Military Forms of every description, kc.February 1.\t2?FRIDAY MORNING, MARCH 30, 1860.SEES FÏBET PAGE FOR FARLIAMENTARY DEBATES, &c., Ac., Ac.AND SUPPLEMENTARY PAGES FOR AD VER TISEMENTS.State of the Thermometer in the shade at the door of Mr.Macpherson, watchmaker and jeweller, corner of St.Francois Xavier and Notre Dame Streets : \u2014 March 29\u20149 A.M.32 above zero.2 P.M.35 above zero.5 P.M.33 above zero.AUCTION SALES THIS LAY.BY C.F.HILL A CO.Furniture, Ac., at residence of Com.General Weir, No.4 Portland Place, at Ten o\u2019clock.Crockery, China, Ac., at the Crystal Block, at Seven o\u2019clock.Fancy Goods, Ac., at stores of Mr.G.G.Wolf, at Seven o\u2019clock.[Bt Telegraph.] PROVINCÏÂU^RUAMENT.LEGISLATIVE COUNCIL.Quebec, March 29, I860.The Bill to provide for the return of verdicts by juries in civil causes, although not unanimous, and the Montreal Mechanics\u2019 Institute\u2019s Bill was read a third time and passed.The assigument of Dower Bill, and the Con veyancers\u2019 liability bill were read a second time.LEGISLATIVE ASSEMBLY.Last night after the report left a select committee was appointed on motion of Mr.Loran-ger, to take into consideration the expediency of inviting emigration from France, Belgium nud Switzerland to Canada, and the best means of attaining that object.On motion of Mr.Laberge an address was voted for a list of the subdivisions of Lower Canada into parishes and townships since 1853, in continuation of the one which was then published.The following Bills passed through the committee :\u2014 To incorporate Les Filles de Ste.Anne of St.Jacques de Lachigau for purposes of education.To fix the standard weights of hay and straw, and to incorporate the Compton High School.The following Bills were read a second time :\u2014 Further to amend an act incorporating the Brockville and Ottawa Railway Company.To incorporate the College of Three Rivers.To inclose the Common of Berthier.To legalize the proceedings of the Board of Notaries in the district of Kamonraska.To authorise the sale of the site of St.George\u2019s Church in Guelph, County of Wellington, and the acquisition of another site in lieu thereof, and the raising of money by moitgage en the latter for the purpose of erecting a new Curch thereon.To incorporate the Ottawa Board of Lumber Manufacturers.To declare the mode in which the side lines of the first concession of the township of Cumberland, County of Russell, shall run.To amend an act for the incorporation of the International Bridge Company.To exempt homesteads and certain property under a certain value from sale under execution.To prevent frauds ia the voters\u2019 list, and to prevent and punish bribery Ac., at elections.For the protection of Settlers in Lower Canada in certain cases.To amend the law respecting the substitution of affirmation for oaths.To provide for the reduction of law costs in collodion of debts, and abolition oi imprisonment for debt.To legalize certain proceedings by Road In spectors and Overseers.To regulate the sale of Intoxicating Liquors in this province.To legalize the articles of certain Notarial students.Respecting Police Force in Cities and Towns iu Upper Canada.To amend chap.49 of the Consolidated Statutes for Upper Canada, respecting the Joint Stock Road Companies, and to amend chap.58 of the Consolidated.Statutes ef Canada, ae regards the Investment ot money by Insurance Company\u2019s.The House then adjourned.To-day after routine business, the following Bills were introduced.To amend and consolidate the Jndicial Acts of Lower Canada.To amend the Act providing for the separation of the County of Peel from York.To incorporate the St.Bridget\u2019s Asylum of Quebec.To amend the several Acts incorporating the City of Montreal.To amend and extend the provisions of 22 vie.chap.Ï4.To enable the Corporation of Dundas to issue and dispose of debentures, not receiving a certain rate of interest, and to levy a special rate for the establishment ol a Sinking Fund.To confirm and establish the side lines and side Roads, in the 4rd, 4th, and 5th concessions, of the Township of Beverly.To amend the 22d vie.chap.90, in reference to the Niagara and Detroit Rivers Railway Company.Ta incorporate and grant certain powers to the Agricultusai Loan Association of Canada.To confirm a certain survey between the 9th and 10th concessions, of the tbs Township of Hope, and to authorise the New City Gas Com pany ef Montreal, to increase its Capital Stock.On the motion of the Hon.M.Cameron, all the petitions on the subject of a Prohibitory Liquor Law, were referred to the Committee, to to whom was referred the Bill to regulate the law of licenses.On motion of Atty.Gen.McDonald, seconded by Mr.Brown, it was resolved that the House should adjourn for the Easier Holidays, from Wednesday evening, until the following Tuesday.The Division of cub City into Electoral Districts.\u2014 It will be seen, by our report of the proceedings in the House of Assembly on Tuesday night, that Mr.Cartier, although unprepared to move for its introduction, which was consequently postponed, intimated to the House the limits of the electoral divisions of this city, embodied in his Bill for changing the electoral system of the city constituencies entitled to more than one representative.We have already expressed our approval of the principle of this Bill, by thé just application of which, we hoped to be relieved from what we have always viewed as an anomaly in our system of representation\u2014that is, the giving any constituency, however large, a plurality of representatives, instead of dividing it into electoral districts, each possessing one representative in the House of Assembly.Such a system appears to us only to differ in degree, not in essence, from what all would admit to he an absurdity, namely, the aggregation of the constituencies and of the representatives and the bestowal upon the individuals composing the former the right of elecl-ing the whole body of the latter.We can discover no sound reason for giving the elector in the city of Montreal three representatives in Parliament, and if our population entitles us to three voices in the legislature, according to our idea of the fitness of things, the object can, certainly, be better attained by the division of the electors than by the multiplication of the elected.No principle, however, is so good that it is not susceptible of being abused, and while approving of his principle of dividing our city into separate Constituencies, the manner iu which Mr.Cartier proposes to make the division is, in our eyes, so evidently unfair and so man! festly dictated by party motives, that we have no hesitation in protesting\u2014however vainly\u2014 against its adoption by the legislature.We are no sticklers for the adoption of the American principle, by which the representation is based upon numbers and upon numbers alone.But we, assuredly, do hold that, whatever may be the qualification required in the electors, their numbers should at least be the leading and primary gauge and test of their political power and influence.By Mr.Cartier\u2019s scheme it will be seen that the voters in one of his divisions will have bestowed upon them five times the parliamentary influence possessed by their fellow-citizens in another quarter of the city\u2014 the object being too palpable to deceive any one acquainted with the local character of our population.With the St.Lawrence Ward joined to the West, Centre and East Wards, an approximate equality would be secured in the thiee City constituencies ; but by uniting the St.Lawrence to the St.Antoine and the St.Anne\u2019s wards, all equality is ignored and, what is plainly Mr.Cartier\u2019s object, the practical disfranchisement of the bulk of the St.Anne's Ward electors is secured.There are other objections to Mr.Cartier\u2019s bill\u2014the allowing persons to vote in all the wards in which they have property; thus giving them three ^representations instead of one, and the maintenance of the present very defective system of polling,\u2014but they are of minor importance when compared with this direct and unblushing attempt to nullify the votes of one entire section\u2014a fourth, if not a third,\u2014of our present constituency., Our musioal friends ought to secure theip tickets for to-night\u2019s Concert of the \u2018'Messiah\u201d this forenoon, as we are informed the demand is far beyond that of any former occasion.The laurels so justly won by the Montreal Oratorio Society\u2019s three previous performances, will no doubt, secure a most fashionable audience.The strength of both Chorus and Orchestra has considerably increased since their last appearance.Parties furnishing and Country merchants, who, at this season of the year, are purchasing their spring stock in this city, are reminded of the Crockery and China Sale at Crystal Block, Notre Dame Street, which will be hel^ .this evening, and continued during the week.Particulars of the stock, which is large and well-assorted, will be found in another column, r We would remind our readers that the valuable Household Furniture, Horses and Carriages of Commissiary General Weir will be sold, by C.F.Hill A Co., this morning, at his residence, No.4 Portland Place, St.Antoine Street.Persons who really wish to purchase good and valuable articles should attend this sale, as no sale this season will offer better things to parties furnishing.The Commissary General has only been about twelve months in the country, and all his furniture is new and from the best makers.The Horses, Carriages and London Harness will be put up at three o\u2019clock.Unless the last named ! be fortunate enough to mercantile community, institution shall Boon secure a Book Fund for the prompt supply of all its literary necessities, and exclusive of its income from members, the Apprentices\u2019 Library is certain to overtake, and then outrun the \u201cMercantile\" in the race for popularity.Nous verrons.\u2014New York Corres.of Boston \u201cPost.\u201d Dr.Howe.\u2014We are glad to hear that this distinguished philanthropist has consented to afford our citizens an opportunity of learning, from himself, what are the leading features of his system of instructing his blind and deaf-mate pupils ; as well as witnessing the results of that system, in the performances\u2014we suppose we may say\u2014of those of them who have accompanied him on his present visit to Canada.We have in the late Toronto journals some very interesting accounts of the public examinations of Dr.Howe\u2019s pupils in that city.They were numerously attended by audiences who were unanimous in their expressions of admiration at the extraordinary proofs of intellectual advancement displayed by those whose acquirements had been made without the aid of sight, that moat important of our senses.We regret that our limited space prevents our availing ourselves of our Toronto contemporaries\u2019 interesting accounts of the exhibitions in their city, but we trust we shall in a few days have an opportunity of judging personally, and recording our impressions of Dr.Howe\u2019s system of instruction.We learn, from yesterday\u2019s 1'ran-script, that it is Dr.Howe's intention to visit uebec, with his pupils, and thus afford His Excellency the Governor General and the members of our legislature, an opportunity of witnessing the success he has achieved by his philanthropic labors.The Prince\u2019s Visit.\u2014la an article upon the expected visit of the Prince of Wales to British America, the New York Herald makes the following suggestions :\u2014 Seriously speaking, says our contemporary, we ought not to allow the Prince to quit our American shores without affording him an opportunity of judging the Yankee nation and the Yankee institutions with his own eyes.The visit will enlarge his ideas, and give him a correct notion ot a people whose character he no doubt imperfectly understands.This improved knowledge may, in the tuture, re-act favorably on our own interests ; but at all events, as a matter of courtesy, we are bound to extend to him a chance of acquiring it.The question is, how it can with most propriety be done ?An invitation from the President would be the act of the President alone, and would not necessarily imply a national compliment.We see no reason why Congress should not pass a resolution tendering the Prince the hospitalities of the country, and providing the means to give it a suitable effect.There is no lack of precedents for such a course, and the last\u2014the invitation to Kossuth\u2014will surely justify the adoption of our suggestion, for policy as well as good taste can be urged iu its favour.Should the national legislature fail to respond to the idea that we have thrown out, we trust that the Corporation ot New York will at once take it up and act upon it in a liberal and becoming spiyt.As the Municipal Government of the great commercial centre and metropolis of the Union, an invitation on its part to the Prince to visit our port would, we believe, be readily and willingly accepted.The event, however, being likely to prove rather a critical one in point of convenancest we would recommend the City Fathers to brush up for it.Whatever may be their shortcomings in other respects, let them at least be able to make a show of improved grammar, and clean hand^ and faces.In its last issue, the Toronto Globe, while remarking upon the Herald\u2019s considerate and hospitable suggestions, adds :\u2014\u201cOur contemporary appears to be hard up for a candidate for the Presidency, James Buchanan, General Soott, and others, having failed him ; suppose he lakes up the Prince.\u201d Mr.McGee\u2019s Speech in Reply to the Hon.Mr.Alleyn.\u2014In justice to Mr.McGee, and his constituents, we give, this morning, a full report of his eloquent oration on Mr.Foley\u2019s , want of confidence\u201d motion\u2014the absence of which, in the Quebec Chronicle\u2019s report of the proceeding in Parliament our Quebec correspondent, so justly, commented upon.Proposed Bankrupt Law for the State of New York.\u2014The following bill has passed the New York Assembly :\u2014 \u201cSection 1.Every insolvent debtor may be discharged from his debts, upon executing an assignment of all his estate for the benefit ot his creditors.\u201cSecs.2,3, 4, 5 give jurisdiction to any County Judge, Recorder, Justice of Supreme Court [or in New York City, any Judge of Common Pleas] to whom a debtor asking a discharge must petition, giving a schedule of his debts, list of debtors, and an inventory of his effects, which he shall verify by affidayit.\u201c Section 6.If it shall appear by such petition, schedule and affidavit, that at least two-thirds in amount of all debts owing by him, and specified in such schedule, have been due and unpaid for the space of one year prior to the time ot the presentation of said petition, the officer to whom the same shall be so presented, shall make an order requiring all the creditors of such insolvent to show cause before such officer, if any they have, at a certain time and place, to be specified by him, why an assignment of the insolvent's estate should not be made, and he be discharged from his debts as in this act provided.\u201d This, says the New York Tribune, is a pretty sweeping bill, and we do not favor its passage but if it affected only such debts as may be contracted after its passage, and were properly guarded as to trusts, we should favor it.We beg the protesters to look the fact in the face that the.drift of legislation for the last fifty years has been toward \u201cletting every man collect his own debts,\u201d and it will not be easy to rollback the current.Why should that large proportion of our citizens who incur no debts of consequence and keep their property in their own hands until some one sees fit to buy and pay for it, be heavily taxed\u2014as they are\u2014to enable other men to collect their debts ?We do not propose to answer this question at present\u2014nor to pronounce it unanswerable\u2014 but simply to say that it will have to be considered and decided.COKEBSPONDENCE.To.the Editor of the Montreal Herald.Sib,\u2014The Hon.Mr.Galt's scheme for the improvement of the currency of the country deserves, and will doubtless receive, the best consideration of all those who can understand and duly appreciate the importance of the subject.The idea is not a new one.Many years ago, when LordSydenham wielded the power and influence of the office of Governor of these Provinces, with a comprehensive mind and deep insight into the affairs of Finance he broached the subject, aud well would it have been for Canada had the scheme then succeeded.The subject was presented for consideration to the country, aud among the public meetings held for ils discussion was one in St.Ann's Market, Montreal ; and as the writer of this was one of the supporters ot the scheme, he hopes it may not be deemed impertinent nor inopportune to bring forward at the present moment some of the reasons which suggested themselves and were presented to the meeting by him on that occasion.It is scarcely necessary to premise that the subject was one of great novelty as well as of great interest, and few were found who could duly appreciate its importance.The first argument urged upon the meeting was the equalising the currency throughout the entire extent of the Provinces\u2014the benefit to be derived therefrom would more especially accrue to merchants having dealings with distant parts \u2014inasmuch as the country merchant could make his remittances without loss.The second argument was that the profits arising from the issue of bills would go into the public Treasury, instead of the pockets of private individuals.The third argument was, that it would prevent the introduction ot mushroom institutions, which flood the country with irredeemable paper.The fourth was that by having bills of one issue, the public generally would become acquainted with the same, and be better enabled to detect forgeries ; and the fifth argument, and one which ought to have come home to every individual, was, that it would destroy the jealousy which exists among the Banking institutions and prevent such accommodation to the public as the capital ot each Bank is intended to supply.The Bank of England was brought forward as an illustration of the favourable effects of a Bank of Issue.I need not say more.B.March 29.To the Editor of the Montreal Herald.Sir,\u2014The word astonishment fails adequately to express my sense of teeling at the remarks attributed to our \u201c Finance Minister\u201d in your issue of this morning, touching the Government Municipal Loan Fund Debentures.He broadly states that the public never looked upon these Debentures as Government Securities, and, as a consequence, that they were never worth par.Now, sir, I cannot allow either assertion to pass unchallenged, because it is within my knowledge that at least a portion of the public, and that by no means an inconsiderable one, measured alike by its respectability and intelligence, did, and do still, consider them Provincial Government Securities, and that their market value in this Province reached, some six or seven years ago, 105, or 5 premium- The causes of their temporary depreciation are explained variously, at one time being ascribed to the equivocal expressions and measures emanating from the respective Governments of the day, and at others, from the depressed state of the money market, affected as it was by the recent European wars.My chief motive, however, in commenting upon the speech of the Finance Minister is to reccord my protest, as one of the contributors to liquidate these securities when due, against the threat used with a view to alarm creditors, not only by insinuation, as per his letter of the 19th January last to Messrs.Barings A Giyas, but openly in his address to the Legislative Assembly on the 9th instant.Although cheerfully admitting Mr.Galt\u2019s talent and practical business qualities, I do most unequivocally call in question the propriety of his remarks touching the liability of the Province towards the holders of these debentures, every one ot which has been bought on the faith ot the Government honestly and fearlessly discharging its duties and obligations in carrying out fully the conditions of the statutes under which the issues were effected.I boldly assert that there is no statesman of mark in England, who would venture to adopt a similar expedient, with a view to force or frighten creditors to realize a security, the object of which is too transparent io be misunderstood even by the most stolid, namely, the success of the new Consolidated Public Debt scheme.Hoping that some independent member will, ere the House adjourns, ask the Finance Minister if he, as such, is prepared to advise the present Government not to make further advances to the Municipal Loan Fund tubse-quent to the 30th June next ?I am, Sir, yours, ANTI-REPUDIATION.Quebec, 23rd March, 1860.THE CURRENCY.To the Editor of the Montreal Herald.Sir,\u2014In order that ail classes iu this country may have an opportunity of learning the advantages that England has derived from her National Bank, and the similarity of its issue branch to the Treasury Department proposed to be established by Mr.Galt, our Financial Minister, could the article ou currency and banking, you referred to in a recent issue, written by Mr.McCulloch for the \u201cEncyclopaedia Britannica,\u201d not be published in your paper or in a cheap pamphlet?The subject is the most important ever brought before our Legislature, and only requires to be understood to be appreciated by all.Yours truly, A SUBSCRIBER.27 th March, 1860.(Mr.McCulloch\u2019s treatise occupies 79 close-printed, double-columned quarto pages.It is altogether too volnminous for publication in a newspaper.A cheap reprint of it would, no doubt, be useful to the Canadian public, aud might, considering the importance of the subject, obtain a remunerative sale.It would, however, from the tables embodied in the work, be a somewhat expensiveyofi, and would fill an octavo volume of 300 pages.) ¦What the \u201cWorkies\u201d of New York Have Effected.\u2014Comparatively few of the citizens of New York know anything about the immense wealth, and consequent power, of one of our metropolitan organizations whose workings hitherto have been characterised by a rare combination of modesty and usefulness.The \u201cGeneral Society of Mechanics and Tradesmen,\u201d as it is called, has for many years quietly pursued an even course, content to fulfil the mission for which it was called into being, until now its actual capital, above all liabilities, is not less than two hundred and fifty thousand dollars, which amount could be realized in cash for its estate as now inventoried.The annual income of the society from all sources is about twenty thousand dollars.It provides for its members, gratuitously, a well selected library of nearly twenty-two thousand volumes, a reading room, and annual courses of lectures on literary and scientific subjects.Till within a few months the Society sustained a school system complete in all its appliances, but which, of late, has been \u201c farmed out,\u201d with satisfactory results, both to the treasury and the members.Last year the following sums were paid for the objects specified : for lectures $2116, books, etc., $1872, salaries [except teachers] $1790,for pensions, to 91 persons, $3638.The (Society owns a fine piece of property at the corner of Broadway and Park Place valued at $150,000 and renting for $9000 per annum ; also, other real estate and stock of $95,000, and its buildings No.472 Broadway, the lower part of which is rented by Bryant\u2019s Minstrels for $6000.In view of so imposing an instance of prosperous progress it is safe to imagine that, in a very short time, the \u201cSociety of Mechanics and Tradesmen,\u201d with its thousands of members and its Apprentices\u2019 Library, will become really, if not avowedly, the successful rival of our Mercantile Library Association, despite the latter\u2019s splendid building on Astor Place, and its supposed firm hold upon the sympathies of our1 OF TRADE.A special meeting of this Board was held, pursuant to announcement, on Wednesday afternoon, at 2 o\u2019clock, to consider the proposed scheme of Municipal Taxation for this City, about to be again introduced into Parliament.The following gentlemen were ballotted for and elected members :\u2014 Messrs Thos Wilson, Andw Robertson, Alfred Brown, W Niven, Daniel Gorrie, David Lewis, C H Gould, G H Frothingham, H S Archibald, G A Holland, John Hope, Thos Davidson, Jas Macnab, John Henderson, Alex Henderson, C W Smith, Peter Macnab, W C Willis, M H Cochrane, Louis Beaudry.The following were proposed to be ballotted for at the next general meeting :\u2014 Messrs E Maitland, J Torrance, jr, Joel C Baker, H W Atwater, J G Smith, J McLennan.In the course of conversation respecting the new scheme of Municipal Taxation, it was stated by the President, in reply to a question, that the Bill was not yet introduced, and that some amendments, he understood, would be made previous to its introduction.Mr.Marchand said that, as far as his knowledge went, the principle of the Bill would not be touched, although some trifling changes would be made in the details of the plan, and the mode of carrying it out.Mr.RODDEN had had some conversation on the subject with the City Advocate, and he [Mr.RoUden] understood the matter now to stand thus.That the Bill would be submitted to the House iu its present shape, be referred to the Private Bill Committee, there have its merits discussed, aud such ameudmeuts offered as might be desired.Moved by Mr.CRAMP, seconded by Mr.DARLING That the Committee appointed at a meeting held on the 15th of March, 1859, consisting of Messrs.G.W.Murray, W.Molson.T.Hart, D.Torrance, James Shaw, be requested to continue their labours in taking such steps as they may deem advisable in opposition to the Taxation Bill proposed by the City Corporation, and to endeavour to get such a bill passed as will raise a sufficient sum for city purposes, based upon the present system of taxation.\u201d Moved in amendment by IRA GOULD, sec-conded by HENRY LYMAN :\u2014 1.\tThat this Board view with alarm the efforts making to impose upon this city, the Assessment Bill now before Parliament, especially that clause relating to the taxation of personal property, which includes all merchandize and produce wherever found not iu transitu within the limits of the Corporation, aud that it is the unanimous opinion of this Board that the said clause, as it now stands in said bill, would grossly injure the commerce of the ciiy, while it would be unjust in principle as well as onerous upon the persons representing such merchandize and produce.2.\tThat it is not the wish or intention of this Board to exempt any portion of the community from bearing its just proportion of the burden of taxation, and the amount to be paid by each cannot be better understood than from the amount of his yearly net income, or the net produce of the property of whatever kind he may possess.3 That to the enactment of an Assessment Law, based upon the above principles, this Board could surely offer no resistance, but would gladly lend such aid as it possesses ; and that the following gentlemen be a Committee on the part of this Board to attend to the same in such a way as to them shall seem most advisable.Mr.GOULD in supporting his amendment, said he had an important reason in his mind, why they should not pass the resolution.He did not wish the Board to stand before the city in the light only of obstructionists, and as opposing whatever might be proposed by the Corporation; while at the same time they proposed nothing in its stead.The Board he thought, when a measure obnoxious to the interests of the city was brought forward,should uotonly oppose it, but should also propose something in its stead.In the case of the Committee appointed last year to confer with the Finance Committee on this same bill, the Committee of the Board would hear of nothing unless it was predicated on real estate directly opposed to the principle of the bill.He therefore rose to move this amendment which he hoped'would be duly considered.It was a burning shame that the Board ot Trade would not agree upon a bill of taxation under which they themselves were to be taxed.It could be much more to their credit to help to carry through a bill of some kindjhan to oppose it.He was of the opinion that it was unjust to levy a tax on property wherever it might be tound in ihia city, and was in favor ot levying a tax on the net income of each person in the city.Mr.H.LYMAN, in seconding the amendment, said it was related that the people of the State of Connecticut, at a very early period of ils history, agreed that they would be governed by the laws of God until they had time to make bettor ones.Thus it had always appeared to him that the city taxation law was only in force until a better could be devised\u2014that the matter was in a sort of transition state.It was now required to levy a revenue more adequate to the wants of the city, aud it was desired to levy that revenue in the most eligible manner possible.He believed it to be the correct principle to lay a tax on what a man earned.It was a hard case that a man who was earning nothing should be taxed the same as if he were.The profit of a business\u2014thepneome\u2014was what they had a right to tax.He hoped they would not confine themselves to saying no, but come forward and propose something.Mr.MURRAY was surprised to see Mr.Gould come-forward aud state that the Committee had done nothing but oppose the schemes proposed by the Council.They had made propositions, which had been rejected.Mr.GOULD\u2014But these were adverse m principle.Mr.MURRAY was opposed to taxing per-soual property.The stock of a merchant, he stated, was no criterion of what he was making.Many were ruined by having large stocks.The way was to make a man show his balance sheet, and swear to it, and to levy a tax according to it.It he made a false oath, send him to the Penitentiary.Though he was aware that did they do so, they would have to build another Penitentiary, as the one at Kingston would be by no means sufficient.He considered it preposterous to tax a man on any stock he might hold in any joint-stock concern, such as the Bank of Montreal.Taking it as an example, a person owning stock in it, say of £1,000, when it was worth £120, paying a dividend of £6 per cent, the annual tax would be £0 on £60 of income or ten per cent, other incomes being taxed only one-half per cent.At the same time a stock owned in the Bank of Upper Canada, or in the Quebec Bank, or in any bank in England or the United (States would be exempt from taxation ; a penalty thus absolutely inflicted on those who invested in their own native concerns.The effect of this would be to drive capital from this city.Mr.RUÛDEN said that the only point in the scheme really remaining for consideration was the half per cent, on personal property.He wiahed to know it the Board desired to recommend anything in place of that half per cent.Would they allow the BUI to go to the House, and send a Committee to Quebec to meet the Council there on equal teims.The Council desired to lay a tax on real estate of three quarters per cent, inasmuch as it would benefit in a greater degree by city improvements, and of only one halt on personal property.The present tax was a most unequal one.He knew a wealthy gentleman doing he believed a large business, who paid a business tax of only £21, and he also knew a widow in a small store on Notre Dame Street who paid the same amount.The PRESIDENT said they would all agree with him as to this being au unequal tax-Mr.RODDEN went on to say ne believed it to be the wish of a majority of the citizens of Montreal, that each citizen residing in Montreal should contribute to the support of the city according to his means.Mr.MARCHAND said it was hard to speak convincingly io an audience who had already come to a foregone conclusion.But it should be remembered that the Board of Trade was not the city of Montreal ; fifty or sixty merchants, however respectable and influential they might be, did not represent the eighty thousand inhabitants of this city.He denied that the Finance Committee had refused all suggestions of the Committee of the Board.They had been receiyed with all the courtesy due to them as coming from such a body.Mr.MURRAY\u2014But the principle.Mr.MARCHAND\u2014Of course not the principle, as it was entirely opposite to the principle of the bill.The only principle he, and he thought he could state, the Council, were wedded to, was the principle of a tax on personal property as real estate should not be made to bear the whole burden of taxation.Personal property had been benefitted, he would prove to them, by the introduction of the Water Works, by the saving effected in the cost of insurance, the risk from fire being so greatly lessened.And, however they might postpone the passage of the bill, he believed the majority of the citizens were in favor of the principle of a personal property tax, and that ultimately that principle would pass, and he would advise them to accept it now, and modify it in such way as they could, as they would have to do so sooner or later.Mr.CRAMP said his resolution was quite ia accordance with the previous action of the Board, as it not merely disapproved of the proposed scheme,but suggested another manner by which the required revenue might be raised ; the Board being quite willing to submit to any necessary increase of taxation.The question as to the amendment was then put and lost, on a division of 22 to 18.The original motion being put, was carried on a division of 22 to 14.The meeting then separated.CjtF'EJTBJJ OF TBB Two MeXIOAM StEABERS BY the United States Naval Forces off Vera Cruz.\u2014The New Orleans Picayune on Wednesday last contains the particulars of the late naval engagement off Vera Oruz which resulted in the capture of the two Mexican steamers, the Marques de la Habana, and the General Mira-mon, both formerly Spanish mail steamers ply-idg on the Mexican Coast, bnt now fitted up as armed vessels to aid General Miramon in the capture of Vera Cruz.It is stated that they were purchased by au agent of Miramon, and that the purchase money was transmitted through the French Consulate at Vera Cruz.Another singular report is that one of them at least cleared from Havana as Spanish, and that both vessels carried the Spanish flag as they sailed from Havana.The Constitutional Government at Vera Cruz at once issued a proclamation declaring the vessels piratical and authorizing whomever should encounter them in the waters of Mexico to capture them as pirates.The Picayune gives the following account of the engagemeot and capture : \u201c The steamers made their appearance off Vera Cruz about noon of the 6th.They where immediately signaled from the castle as suspicious vessels, and the news circulated rapidly through the town, where it produced great excitement.In the meantime the steamers continued, under full steam, rapidly to advance.They passed behind the castle of San Juau de Ulua, iu the direction of Sacrificios, and .finally ran into Lizardo, where a flag, previously raised by Miramon, indicated the place of rendezvous.Miramon was at this time before Vera Cruz.The steamers bore no flags whatever when they passed the castle, nor did they hoist them either then or at Sacrificios, though they were ordered so to do, first by a shot from the fortress, and afterwards by the U.S.sloop Savannah.On the contrary, they steamed boldly forward.The French, Spanish and English vessels at Sacraficios did not notice the suspicious steamers, or at least did not order them to show their colors.Capt, Jarvis, of the sloop-of-war Savannah, is the Senior U.S.officer at Vera Oruz.He saw with his own eyes this contemptuous violation of the law of nations\u2014two vessels of war armed to the teeth, passing coolly by without giving a signal or hoisting their colors when ordered so to do\u2014and took his course decidedly.He immediately ordered the sloop-of-war Saratoga, Capt.Turner, to go in pursuit of the steamers.The Saratoga, only carrying sail, was towed down bj* the steamers Indianola, of this port, and the Wave, plying on the Mexican coast.The Marin steamers had just cast anchor at Anton Lizardo, when the Saratoga came up with them.They still had steam up, however, and seemed to have taken a position as if to put to sea at onee in case of being overhauled.The Saratoga, however, seems to have taken them unawaies, though the moon was shining brightly, aud at once took a position to cut off all retreat.Maria then prepared as if to give fight.In the meantime Capt.Turner dispatched a small boat to the steamers, with a flag, to demand their nationality.Marin fired upon it.The boat, however, continued its course ; Mann fired upon it the second time, The Saratoga then launched a broadside upon the steamer, commanded in person by Marin.This was the Gen.Miramon, and seemed best aimed.She was piloted by a man named Flores, well known at Vera Cruz.The other steamer was commanded by Capt.Sanchez, formerly of the Mexican war steamer Democrata, which he betrayed.One account says Marin fought like a lion, but others say that, on the opening of fire, both steamers tried to run away.They were, however, interrupted by the Indianola aud the Wave.It was, however, two or three o\u2019clock in the morniog before Marin surrendered.He was taken on board the Saratoga.Nearly all the oflicers and crews of both steamers were also captured, either by the Indianola or the Wave, aud were taken up to Vera Cruz, where they were distributed between the Savannah, Saratoga and Preble The number of wounded on board the two steamers was about thirty.They were taken on board the Saratoga, and their wounds promptly dressed.Among the wounded was Capt.Flores, who has since had an arm amputated at Vera Cruz.The number of Americans wounded was three \u2014one mortally.We have not learned his name.He belonged to the Preble.A few of Marin\u2019s men made good their escape to the shore, but a number of Miramon\u2019s men,who had already gone on board the steamers, were captured.Among these last captures was Miramon\u2019s principal agent, who is said to have hid himself in an obscure corner when the firing began, but had the misfortune after all to be badly wounded.The General Miramon was badly injured by the Saratoga\u2019s broadside, and only got afloat with difficulty.The Indianola received several shots, but they did her no serious injury.As soon as the action commeuced, the two steamers hoisted the Spanish flag.\u201d Some of the prisoners have made statements which throw some additional light upon the affair, We quote : \u201c They testify that they shipped at Havana on board the steamer Gen Miramon, then known as Correo No.1, on the 20th of February.They were to have a month\u2019s pay on their arrival at the Mexican coast and free passage back again to Havana.They sailed from Havana on the 26th of February under the Spanish flag.After they got outside, however, the Mexican flag was raised The crew now demanded their pay in advance, according to promise, but did not get it.The next two days nothing of importance occurred.The third day the Marques de ia Habana broke down and they were obliged to put into Sisal.Here it was that they fell iu with the Spanish mail steamer Mexico from Vera Cruz and bound to Havana.Signals were exchanged, and when the vessels approached nearer, they all shouted \u2018Hurrah for Miramon.\u2019 This, says the prisoners, was the first intimation they had of the character of the expedition.They did not even know that they carried materials of war.The cannons, small arms, ammunition kc., were stowed away below, out of sight.The next day, however, the guns were mounted, and both steamers perfectly fitted up as men of-war.New clothing was also distributed among the crew, bearing the name of Gen.Mira-mon, in gold leaf.Some of the crew at first refused to change, but all finally yielded perforce.Here follows an account of the capture, substantially as above stated.The following additional items are published : \u201c Of the 250 men, three-fourths are believed to be Spaniards.The rest are French, Portuguese, Americans, and Coolies from Manilla.They were most ot them, doubtless, ignorant of the real nature of the expedition.The first engineer ot the Marques de la Habana was an American.He was killed by a shot from the Saratoga.The first engineer of the General Miramon was a Frenchman.He was also killed.The second engineer, also a Frenchman, was at last accounts still at his post, but under the command of an American engineer.Among the prisoners more particularly mentioned are Sr.Rafael Rafael and the Abbe Chaudron, well known at Vera Oruz.The all important captive, however, is Commodore Marin bimselt.Marin replied that his men were composed of all sorts of people, had been but recently shipped, were badly disciplined, and could not be controlled.He confessed that he knew the Saratoga to be an American vessel, and that he understood all her signals, but protested that he did not order a shot to be fired.He declared moreover, that he gave the contrary orders, but could not control his men.Captain Turner listened to these protestations in silence, and then added: \u2018You have been guilty of a great outrage, You alone are responsible for this unhappy affair, and upon you rests the responsibility.\u2019 Marin responded meekly, that he regretted it very much, whereupon Capt.Turner left him to his sorrows, and turned away.Marin is said to have lived at Havana, while the expedition was being fitted out, in the house of the Captain of the Port ; and all the prisoners declare that the arms, munitions and stores were put on board with the knowledge of the Government.The Trait d'Union says that the cargo of the two steamers consisted of 1000 fourteen pound bomb shells, two bronze mortars, 4000 small arms, and more than 60,000 rations.It is further asserted that the total expenditures of the expedition amounted to not less than $300,000, the greater part of whirffi money was furnished by the Government at Havana, in conformity with a secret article of the Almonte treaty.If this statement be true, Capt.Turner has taken a rich prize.\u201d BXCflAMGJs.Bank.60 days on London.10, Private, 60 days on London.Bank, on demand, New York.Private on demand N.York.per ct.prem, 9\tdo i& J\tdo î dis.to par.STOCKS.ggooos IgoQgBor\u2019Ahgwogucaootn 35pS \u201c3-a-a-a \u201cO-O P3 ^3 rpcr>n;iia>«i;r r r r r\tr j\t0 :\t:\t:\t:\to r\tr r r* ^ r r r T3 TS -C \u201cO \u2018O\tç.oj-o P5\t2 \u2019\t*\t\u2019\t\u2019\t2 T 3332.>-pjv->-'_E>7bp£ saoagpooca;- 3 3 O P 33 3 .\t\u201c«n BcePbta- 3 3 3 3 3 3 2 § 3 .3 »\u2014* ?\u201d*\t^\tM 1\u20144 *\t)\u2014É\tta-l -\u2018©pÜltiifta-OtaO üi^-i-^oO CDowS-StOW-\u2019* St-ta CO o en o S1 \u201cO CO 05 4*.to\t\t0\t00 Milwaukie Club.0 00\t62\t0\t00 Chicago Spring, No.1.0 00\t(S>\t0\t00 BARLEY.^\tminot.0\t76\t0\t0\t80 OATS.-T\tminot.0\t0\t40 PEAS\u2014White.F\tminot.0\t75\t62\t0\t80 INDIAN CORN.P\t66 lbs.0\t00\t\t0\t00 PORK\u2014Mess.r bbl.18 50 & 19 00 Prime Mess.14 00 (0 14 50 Prime.12 00\t12 60 Cargo .9 00 62 10 00 BUTTER\u2014Inspected No.1.^ lb.None.Inspected No.2.None.Uninspected.« \u2022t \u2022 0 I2j& 0 15 DAILY REPORT OF THE ^MONTREAL PRODUCE MARKET.Montreal, March 29, 1860.We have no change to note in our market today.Prices remain about the same.Flour.\u2014Double Extra, $6.30 I®$6.75; Extra, $5.00 I® $6.00 ; Fancy, $5.50 (3) $5.60 ; No.1, $5.15 (cb 5.25 ; No.2, $4.90 I® 5.00 ; Fine, $4.20 (3) $4.60.Bag Flour\u2014tipring Wheat, $2.85 !® 2.90 ; Scotch, $2.90 I® 3.00.Wheat\u2014Spring, $1.14i@$1.16.Peas\u201476!®80c.Pork\u2014Barrels, Mess, $19.00 (3) 19.50 ; Prime Mess, $14.25 I® 14.75 ; Prime, $12 i® 12.50.Butter\u2014Tubs, 12e(®14c.Ashes\u2014Pots $6.50 (3) 6.55 ; Pearls $6.80/® DAVID E.MACLEAN k CO., Commission Merchants, Shippers k Brokers MATTHEWS k MACLEAN\u2019S DAILY PRICES OF UPPER CANADIAN PRODUCE, Toronto, March 28, 1860.Markets for Grain, more especially Fall Wheat, rather more depressed to-day.Our quotations show a decline from yesterday\u2019s rates.\t1 A few more enquiries for Flour, but no inclination to come to holders\u2019 views.A shipment of over 2000 bushels cleared from our port yesterday for Oswego.Prime Fall Wheat\u2014$I,22/®1,32.Common to Fair\u2014$1,15/®1,20.Spring Wheat\u201497c/®$1.02.Barley\u201456/®6lc.Peas\u201455/® 60 c.Oats\u201433c.Flour\u2014 Double Extra,.$5.50/®6.00.Extra., .a .\u2022 .$5.25/®5.5q.Fancy.$5.00/@5.10.No, l.,.$4,65f®4.70.JOHN W.BASLE Y OFFER for the Spring Trade and vigorous stock of Hardy Fruit Trees, comprising a fine assortment of the best Apple, Pear, Plum, Cherry aud Apricot Trees.Also, Hardy Grape Vines, 20 varieties, including the Delaware, Diana, Hartford Prolific, Concord, Northern Muscadine, Ac.Currants, Gooseberries, Raspberries, Strawberries, Blackberries [New Rochelle], Rhubarb aud Asparagus.Ornamental Trees & Shrutos, Silver Maple, Norway Maple, European Linden, Horse Chestnut, Norway Spruce, Red Cedar and Arborvitæ Shrubbery, Roses, Hedge Plants of several sorts, Ac., Ac., Ac.Greenhouse Plants, Comprising a fine variety of Verbenas, Fuchsias, Heliotropes, Salvias, Petunias, Geraniums, Chrysanthemums, Ac., Ac.Dahlias, 50 choice, new and rare varieties.DIELYTRA SPECTABILES, fine plants ready A new and supplementary catalogue has just been published, which we will forward to all applicants.JOHN W.BAILEY.WILLIAM H.BAILEY.Orders may be left with, or catalogues obtained from JOHN JAMES BROWNE, Architect, 132 Craig Street.March 30.\tdu-77 Hbtice, THE CO-PARTNERSHIP heretofore existing under the firm of BARBER, KER CO.terminated, by limitation of time, on the 1st of February last.Montreal, March 30, 1860.\tm 77 PKINCE\u2019S \u201c Sleeping- Deauty Polka,\u201d Superbly Illustrated, Just published, and tor sale by the Subscriber.HENRY PRINCE, London Music Store, 145 Notre Dame Street.March 30.\t77 SPRING IMPORTATIONS, 1860.LEWIS, RiY & CO, Have men FANCY AND STAPLE DM GOODS, OPENED a Comnlete Assort- ie!\u201d Buyers are solicited to call and inspect their Stock.242 St, Paul Street, Premises recently occupied by James Johnston A Co.March 29.76 Billiard Balls, A FINE ASSORTMENT of Extra Superfine IVORY, per S.S.\u201cNova Scotian.\u201d 2 inch.$11 00 per Set 2) 21 2] 2) 15 00 \u201c .18\t00 \u201c .22\t00 \u201c .25\t00 Bagatelle Balls, inch.$ 5 50 per Set.7\t00\t\u201c .9\t00\t\u201c .11 00\t\u201c \u201c .13\t00\t\u201c For Sale at RICE SHARPLEY\u2019S, Crystal Block, Notre Dame Street.March 29.\t76 n if U lx The Pure Mountain Pea Berry CEYLON|_COFFEE- JUST RECEIYED a FURTHER SUPPLY of this Beautiful Coffee, Ground Three Times a Day.Price Is.3d.per lb.For Sale at W.D.STROUD\u2019S GROCERY STORE, 33 St.Lawrence Main Street.March 29.\tb 76 NOTICE.THE METROPOLITAN FIRE INSURANCE COMPANY will apply to the Legislature, during the ensuing Session, for certain amendments to the Act incorporating the said Com- pany.Montreal, February 22, 1860.a w-45 HOARD.ONE or TWO GENTLEMEN can be accommodated with BOARD.Apply at No.II BRUNSWICK STREET.March 21.\te ts-69 TO LET, FROM 1ST MAY NEXT, The New Two-Story BRICK RESIDENCE, No.24 Chenneville Street, at present occupied by the Subscriber.R.PARKER.March 30:\t?1 MONTREAL ORATORIO SOCIETY, «is I HE FOURTH CONCERT of this Society will take place at I NOUDHEIMERS\u2019 MUSIC HALL, Friday Evening, BOlli Instant, AT EIGHT O\u2019CLOCK, On which occasion the First and Second Parts of Handel's\tMessiah,\u201d Will be performed.Single Tickets.$0.50.Tickets to admit Two.0.75.Do to admit Three.1.00.Tickets, with Programme of Concert, maybe had at B.Dawson A Son\u2019s, E.Pickup\u2019s, and at the Hall.March 19.\tmwf26th-d\u2019ly-67 IMPORTANT NOTICE.1RDHEI1RS' HALL GRID COffifflT SABATIER, ON THE 9th of AFüLIXf, 1860.March 9.fm 59 SI § The regular quarterly meeting of the Board will he held at the BOARD ROOMS, Mechanics\u2019 Hall, Montreal, on TUESDAY, the 3rd day of APRIL next, at THREE o\u2019clocK, P.M.B.CHAMBERLIN, Secretary.March 28.\tm wft-75 i¥SQS^TREAL FERMENT SOCIETY.THE SECOND ANNUAL MEETING of the MONTREAL PERMANENT BUILDING SOCIETY, will be held at the BOARD OF TRADE ROOM, Merchants\u2019 Exchange, on WEDNESDAY, the 4th of APRIL next, at THREE o\u2019clock, P.M., to receive the Annual Report, Election of Directors, and other business of importance.A full attendance of the members is requested.M.H.GAULT, Sec.and Treas.March 29.\t76 Mount Royal Cemetery Company rj\u201d1HE ANNUAL GENERAL MEETING of this COMPANY will be held in the MONTREAL ASSURANCE COMPANY\u2019S BUILDING, on TUESDAY, the TaytD DAY of APRIL next, at the hour of THREE o\u2019clock in the afternoon, to receive the reports of the Officers, and for the transaction of other business.M.H.GAULT, Sec\u2019y aud Treas, March 28.\t75 CANADA MINJNB COMPAND Election of Directors.THE ANNUAL MEETING will take place at the COMPANY'S OFFICE, No.10 St.Sacrament Street, on MONDAY, 16th APRIL next, at ONE o\u2019clock, for the Election of Directors, when other business of importance will be submitted.THEODORE HART, Secy, and Treasurer.Montreal, March 17, 1860.1m mf 67 To Amateurs and Photographists.THE Subscriber has just received, per S.S.\u201cNORTH AMERICAN,\u201d a few complete Photographic Instruments For Amateurs.Comprising: ONE DOUBLE LENS STEREOSCOPIC INSTRUMENT and Portable Camera on Stand, with ] Plate Single Portrait Lens to attach, and Double Sets of Baths, Printing-boxes, Plate-boxes, Chemicals, kc., complete.\u2014also,\u2014 THREE DOUBLE STEREOSCOPIC LENS, Camera aud Stand, with Baths, Chemicals, kc., kc., complete.RICE S3ARPLEY, Crystal Block, Notre Dame Street.March 29,\t76 A.LAZARE Begs to inform his Customers and the Ladies iu general, that he has JUST RECEIVED FROM PARIS THE LATEST PATTERNS OF BONNETS AND HEAD DRESSES, And from the extensive arrangements he has made in his MILLINERY ESTABLISHMENT, He is therefore prepared to execute every order.His Complete Assortment OF HAUTE NOUVEAUTE.Consisting of Silks, Bareges, Mousselines, Mantillas, Laces, Embroideries, Laee Chales, Parasols, Ribbous, Feathers, Flowers, &C.,\t&C.,\t&C., WILL BE UNPAMLELLED By anything ever imported into this City.ï3\u201dTimely notice will be given when ready for examination, and of the opening of the show-hoom.March 29.\t76 ADVERTISEMENT.WILL BE SOLD, to the highest bidder, at the Door of the Parish Church of St.Jean-Baptiste de Rouville, on MONDAY, the SIXTEENTH APRIL next, at TEN o\u2019clock, A.M., the IMMOVABLE hereinafter described, belonging to the Widow and Heirs of the late JOSEPH HEUSLEY, Esq , to wit :\u2014 A LAND, lying and situate in the Parish of St, Jean-Baptisie, Seigniory of Rouville, measuring three arpents in breadth by thirty arpents in depth ; bounded in front by the Riviere des Hurons, in rear by the Etans de St.Hylaire, on one side by Jules Roy, and on the other side by Edesse Ducharme \u2014with a House, Barn and other Buildings thereon erected.For the conditions, which are liberal, address the undersigned Notaries, at their Office, iu Iberville.V.VINCELETTE, N.P., O.VINCELETTE, N.P.Iberville, March 27, 1860.r fm 77 ANTED\u2014TWO BOYS to carry newspa- 77 w pers.Apply at this Office.March 30.WANTED by an isngnsh Lady, a situation as housekeeper.Highly respectable references can be given.Address \u201c A.0.\" Post Office, Montreal.March 30.\tb 77 Apartments to let, consisting of Two Bed Rooms and Parlor on same Floor, with full or partial Board, very pleasantly situated.Apply at the Herald Office.March 29.\t?6 T WANTED IMMEDIATELY, HREE GOOD MILLINERS and several APPRENTICES.Apply to March 29.A.LAZARE, Cathedral Block, Notre Dame Street.76 PnMic Notice of Sale.ON MONDAY, the NINTH day oi April next, will be sold at the door of the Parish Church of St.Cécile de Valley Field, the following immovable property, belonging to the community of goods heretofore existing between the late Charles Leroux dit Rousson, in his lifetime of the said parish of Ste.Cécile de Valley Field, and Dame Josephte Bonzie, his spouse, to wit : 1st.A FARM consisting in the South-West half of a lot of land described as number Four, in the Fifth concession of Catharines-town, in that part of the Seigniory of Beauharnois held in Free and Common Soc-cage, measuring two arpents in width, by twenty arpents in length, bounded in front by the the front road of the said fifth concession, in rear by one named Plantier, to the North-East by the half of the said Lot number Four, owned by F.X.Legault, and to the South-West by Lot number three, owned by F.X.Harnois; with house thereon erected ; of which farm there are only six arpents in cultivation, the remainder being in standing wood.2nd.A FARM situated in the Township of Godmanchester, in the parish of St.Stauis las de Rostka, in the second concession of the said township, and described as Lot number Five, measuring six arpents in front by forty arpents in depth, more or or less, bounded in front by the lands of the first concession, in rear by those of the third concession, to the North-East by Lot number Four, and to the South-West by Lot number Six, with a cottage thereon erected.For the conditions of sale, apply to the undersigned Notary at his office in Ste.Cécile de Valley Field.J.N.ROUSSEL, N.P.St.Cécile de Valley Field, > 23rd March, 1860.\t)\tm s 78 NOTICE.W.BENJAMIN & GO.RESPECTFULLY INFORM THE PUBLIC, That in future their IMPORTATIONS WILL PRINCIPALLY CONSIST OF DRESS GOODS, IN Greater Variety THAN THEY HAVE EVER IMPORTED.MASTILLAS, SHAWLS, For Sale by liicita/tiom.That valuable property in notre DAME STREET, belonging to the heirs of the late M.DOMINIQUE ROUSSEAU, and occupied Mr.CHAS.LAPIERRE and others.For particulars apply to ALEX, GORDON, Accountant.28 St.Sacrament Street, J March 27, 1860.\t)\tmwf e-75 FBI GBEffi ASD BLACK TIAS.IT being now so difficult to get a really GOOD TEA, parties wanting such will do well to call and buy those now received by W.D.STROUD, 33 St.Lawrence Main Street.March 29.\t.b ÎG SILKS, FLIWERS, and MILLINERY.THEY HAVE FITTED UP A BAGNIFICERT SHOW E00I ABOVE THEIR STORE, WHICH WILL BE OPENED ABOUT THE 10th APRIL, WITH SPLENDID PARCELS OF FRENCH AMI ENGLISH GOODS, WHICH HAVE LATELY BEEN SELECTED BY OUR Mr.W.Benjamin, IN EUROPE.March 26.73 7893 "]