THE NEWS FROM LONDON UP TO MARCH.

Wanganui Chronicle, Volume 4, Issue 192, 24 May 1860, Page 2

THE NEWS FROM LONDON UP TO MARCH.

Houses of Parliament.

The past month has been,, one of great political excitement; The session of 1860 promises to be one of the most memorable in our Parliamentary annals, for the magnitude of its legislative achievements, the eloquence of its debates, and the prompt despatch of business. The great battle of the Budget, issued in the complete defeat of the Opposition, and the consolidation of the power of the Government.

The paper duty is abolished. The wine and spirit duties' are reduced. The hop duty is .to be lowered, and a swarm of minor custom imports are swept away. Some concessions have been made to the publican interest. A grand debate took place on the commer cial treaty with' France, in which the Government was amply vindicated by the diplomatic correspondence produced, from the suspicion that it was conniving at the Emperor Napoleon’s felonious designs, and the treaty escaped rejection .through the dread of provoking a war. It had to pass a similar ordeal in the House of Lords.

The Savoy question has been a most exciting topic of discussion, interpellation, and declamation throughout the entire month; but the opposition has been in vain.

The new Reform Bill has been introduced by Lord John Russell. s The.measure proposes a J2lO franchise in counties, and a £6 rental in boroughs. In 25 small boroughs one member is taken away, and of the seats thus gained it assigns 15 to the most populous counties, and ten to the largest boroughs, ► .' The Australian station is not to be converted into an Admiral’s command.

The naval volunteers are enrolling slowly, but the reserve is said to be adequate for any emergency.

Upwards ef 2500 officers of the volunteers have been honoured with a grand reception at Court.

The Prince of Wales goes to Canada this spring.

Commercial

Our money market, after temporary ease, has become exceedingly tight—discount 4 to 4|. . Funds depressed. Highest point of consols during the month 95|; to-day ,94f.

London Wool Sales commenced il/arch Ist, with a very numerous, attendance of buyers, who evinced good 1 spirit in their bidding, and established prices equal, on an average, to those of December series. Foreign buyers have purchased very freely. The condition of Victoria wools is superior to former'seasons Sales close on 20th, when 34,000 bales will have been disposed of.