LATEST ENGLISH NEWS. (From the Correspondent of the Melbourne Argus.] London, November 25, 1853.

New Zealand Spectator and Cook's Strait Guardian, Volume IX, Issue 899, 15 March 1854, Page 3

LATEST ENGLISH NEWS. (From the Correspondent of the Melbourne Argus.] London, November 25, 1853.

The War in the East. — After many skirmishes and severe defeats of the Russians, the Turks, owing to the heavy rams and difficult roads, have withdrawn the main part of their army to the right bank of the Danube. They still hold Kaiafat, however, and one or two places that will enable them to cross at any moment, and hitherto have given the Autocrat's troops a smart specimen of their quality. The Russian force is not so large as was stated, and is in poor com ition. In Asia, also, the Turks have been successful. The Sultan has announced that he will take the field in persori next spring, and this augments the enthusiasm. Both he and Nicholas, however, are sadly in want of money. A portion of the English and French fleets are in the Black Sea, and report says we are going to act more energetically. I don't think much can be done during the winter. Some say peace is to be " forced" upon the belligerents. I think Louis Napoleon is anxious to make a display, but nevertheless more than ever solicitous to keep in with England, as the reconciliation of the Due de Chambord with the Orleanists looks ominous, coupled with the marriage of King Leopold's son to an Austrian Princess. The French, be assured, however will not suffer princes to lay down their own " right divine" again, and up to this time Louis Napoleon, by reducing the coal and iron duties, has done more for England than ever Louis Philippe did, and is paving the way for free trade in France — slowly it maybe, but none the less surely. The death of the Queen of Portugal adds another complication to the tangled skein of European politics. She was a poor ruler, though a virtuous wife and a good mother. The Miguelites are already talking largely, and I believe it would be no difficult task to get the Carlists " up" again.

Home Affairs, &c. — The emigration from Ireland continues on a large scale. The weather has been dry and favorable for grain sowing, but we nave had in London some of the usual dense November fogg. Trade is tolerably brisk, and the funds have lisen comparatively high, but corn maintains its price, and money, I think, will be dearer, we aresending so much to the Continent for food 1 &c. The shipments to Australia ate to a fair extent. l In the United States there have been several failures, but the country is io a Sou'iVd sfafe, and' these will soon cease*

The Dbke of Brabant (son of tHe King of Belgium) is here on his wedding tour, and has just been dubbed a D.C.L. at Oxford with great ceremony. Princes, of course, are born alumni; but, although learning needs no compliments, royal favors are doubtless satisfactory as well as solid to our universities.

Commercial.— Very ample details are forwarded herewith concerning the wool auctions, but a summary liere, for immediate purposes, may beuse/ul. The quantity of colonial offered was 53,986 bales, and of East India and foreign 8912 bales. The auctions, as you may infer, opened under very unfavourable circumstances, political as well as commercial, The partial failure of the harvest inducing 1 a severe pressure in the money market, with the large quantity of wool to be brought forward — for which under existing circumstances, buyers were hardly prepared— led to an immediate decline in all descriptions of colonial wool, more especially on low and wasty, and such as were infested with burr and grass seed, the latter suffering severely. The attendance of the trade was good, and for the first few days there was a brisk demand for the Continent ; but as this lessened, prices still farther receded, till rather more than half the quantity to be sold hdd passed the hammer, when fresh buyers, attracted by low rates, making their appearance, prices became firmer, with a slight upward tendency, more particularly for gdod clean flock Si which was fully maintained to the close. At the opening of theSe sales, with a View of strengthening the market; it was announced that about 8000 bales would be held back, but the withdrawal of comparatively so small a quantity had not the desired effect. The average reduction on colonial wool is nearly as follows ; — On good clean fleeces, l£d. per lb. ; middling do., 2d. to 2|d. per lb. ; do. wasty fleeces, 3d. per lb. ; do. moity, and full of seeds, 4d. to sd. per lb. ; inferior do. and irregular, 3d. per lb. The Matilda Wattenbach, of 1060 tons, loading at Liverpool for Melbourne and Sydney, has obtained the contract from the General Post Office for taking out the Australian mails on the 4th December. The Post Office authorities have also given notice that they cannot send magazines and books in future by the overland route to India and Australia at the book postage rate, the expenses being so enormous for conveying them across the Isthmus of Suez. The new steamer Croesus will probably leave England for Australia next January. Freights are rising, and expoits to Australia increasing. Goods are constantly being shut out. This, however, is principally in consequence of the smaller number of ships on the " berth," for I do not think the large number of inexperienced shippers who only embarked in the trade for the hour, expecting enormous profit?, will come in again. You will still have a large number of new and good old houses in the business that will afford you steadier supplies at full rates. '1 he Australian share market has been livelier, l.ut we must have good dividends from mines and land companies before capitalists will take them as an investment. The Emigration Commissioners have taken up the ship Merchantman to bring out passengers to Melbourne, and the Time and Truth, to Adelaide.

December 3. In getting away, the Gulden Age unluckily had a vessel to steer clear of, and running against the seawall, upon turning, damaged her cutwater. This necessitated her putting back; and hpnce these postscripts: I have seen a gentleman who Was on board of her, and who speaks very highly of her appointments, her officers, and her crew. A dispute has arisen betwen the agents of the Golden Age and the Post Office here. The former considered the 2d. a letter insufficient, and asked for half the postage, that is, 4d., or the same allowance (€1000) as Government gives every two months to contract vessels with the mail. This was declined ; and, in fact, I presume the arrangement with the Matilda Wattenbach, which brings out the mail on the 4th ot next month, would be a reason ; but, as the Golden Age had long been advertised, it would have been as well to have arranged with her in preference to the Wattenbach. However, the Post Office decided to make up no mail per Golden Age; so the owners, with the usual Yankee dash, announced to the public that they would carry their letters for nothing ! Being a foreign vessel this was practicable, and, I understand that legal advice being taken, it was found there could be no interferettce ; so these are the terms on which you get yodr present mail. The affair will do good, because it will further illustrate the necessity of colonial postage reform. An uniform rate of 6d. should be tried directly, and subsequently 3d. or 4d. The chief expense is in sorting, &c. No doubt all letters could be carried by the vessels at |d. if the penny postage were established ; but the grievance now is, that the Government takes an enormous per-centage, and leaves the real carrier with all the responsibility almost unrequited. The day is gone when postage ought to be regulated with regard to revenue. It should be looked upon as a mighty " feeder" to commerce and civilisation, ani as most powerful of all levers to revenue and education. Parliament, although prorogued to January 3, is not, as far as is yet known, to meet even then for thedepatch of business. The Eastern question may perplex, bat the Government is aware that much mischief cannot be done during the winter. The evidence which is still most industriously taken upon the refofm of the City of London Corporation discloses facts of great interest. The salaries, fees, and emoluments are enormous, the number of officers is excessive, and the facilities for rewarding favorites are equal to those of any State Cabinet. One witness has stated, that, including the royal hospitals and other revenues,- the cfty authorities, directly and indirectly, have to do with more thafi a million sterling annually. It is not asserted, or, at any-rate, not proved that the charities are badly administered, but there needs general supervision and accountability ; and since the whole area of >the city is but GOO' acres,- or smaller than the parish of Marylebone,- an extension of the municipality and the franchise is desiYahle. in Paris there is a Mayer to each' rfrrdndisement. The rnag?ste.rial duties of the Aldermen are usually well performed, but the conservancy ot the

Thames and other anomalous functidns are neglected. Lord Palmerston is acting very energetically as Hbnrie Secretary. A long; list of metropolitan^ graveyards to be closed to farther interments appears in recent gazettes. His Lordship has also dealt a severe blow to the high church party, that has set the bishops of that side quite in a ferment. Every year it has been usual to sanction the reading in all the churches of the Establishment of a special letter from Her Majesty; recommending the Society for the Propagation of the Gospel to the favorable attention and Subscriptions of the people. This year Lord falmerston objects to give such a letter, on the ground thdt the Society is encouraging Puseyism; but such remonstrances are said to be making; that possibly he iriay relent. The Society usually collected an immense sum, and can never carry on its operations without these voluntary contributions. It remains to be to seen if the^ruseyites can keep it afloat from their own resources, and what I hear to-day makes me think thdt after all the letter will be issued. At the anniversary meeting of the St. Andrew's Society Sir Roderick Murchison being present; was complittiented upon having foretold the discovery of Gold in Australia : but he amused his auditory by reminding them that he never said, and did not believe; that sufficient gold would be found in Scotland to repay the search. He might have complimented his country by adding that it needed not the precious metal while it had a soil frond which tbfe Midlothian farmer could extract sucn riches; Money has been tighter this week, but is easier to-day. The Emperor of Russia has withdrawn £800,000 from the Bank, being already in want of money. Discounts are 5 to 6 percent. Australian securities are quiet, but pretty steady. Tbe nUnib'er of Vessels tip in London for Melbourne, to sail in all December, is 37 — about 20,000 tons; and for Naw South Wales 17, of about 12,000 tons ; frr New Zealand-, 2000 tons; Hobart Town, 2300 tons ; Laiinceston, 1500* tons ; Adelaide, 5000 tons ; and Swan River, 1900 tons. It is a current fact that the Emigration Commissioners did not accept one of the last tenders sent in for the conveyance of emigrants for Melbourne. The cause is not stated, but it is presumed the terms were considered too high. We have lately been getting advices from your part of the world via New York, and in one instance they were more recent m date; When the Panama Rail nay is finished we shall see what will ensue in conjunction with the Pacific steamers. The competition will at least do good, and a great point will be to improve the communication troni Chagres to England; Wool is firmer since the public sales. Australian mutton tallow, 525. to 563. Gd. and beef 525. to 555. 6d.