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- 49ttr fonkn Coraspnlmtt.

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49ttr fonkn Coraspnlmtt. 1Wo deem it right to state that we do not at all times identify uriixsefces with our correspondent's opinions.] Parliament, having got over the preliminary skir- mish relative to the Address â if even skirmish be not too strong a word-is getting into work with a will. I does not seem at all likely that we shall have a quiet or an apathetic session. It bids fair rather to be a useful and a practical one. Hon. members seem to feel that they are on their trial before their constituents. In a few months, in all probability, Parliament will be dissolved constitnencies will be on the qui vive, and the country will be full of election rumours, hustings speeches, and political battles. The Rouse of Lords, who have no constituencies to fear, are, as usual, taking matters quietly, the only exception: perhaps being the Lord Chancellor, who â happily for the country-has set his heart on Bankruptcy reform, a reform which, sooth to say is much needed, seeing that the estates of bankrupts are now equally divided be- tween the officials of the Bankruptcy Court, lawyers, &c., on the one hand, and creditors on the other. The revelations which the greatest authority on the work- ing of the law makes on the subject, are of a very startling character. Lord Westbury, who has made bankruptcy his study for years, states that during the past year the value of the property recovered in the Bankruptcy Court was £677,536, of which only £ 533,664 was divided among creditors, jE143,872 being absorbed in the cost of collecting and dividing the assets, while £140,000 went for the salaries and expenses imme- diately connected with the Bankruptcy Court. Thus less than 10s. in the pound, even if the sum obtained from debtors went to creditors, andmore than 10s. to officials of the Court, or in expenses." Well may the Lord Chancellor say that it becomes a question whether this monstrous, overgrown, and extravagant institution shall be allowed to remain." A committee to inquire into the whole working of the Bankruptcy system will this session report on the subject, and if this report be presented in time, we may have an amendment of the last Bankruptcy Act. The truth Is that the .Lord Chancellor has a great deal to contend against in the interested power and influence of those who profit by the present system. The whole com- mercial community are concerned in obtaining an alteration in the present law, and it is to be hoped that another session will not pass away without an alteration in this important branch of legisl ation. One by one large private firms are becoming absortted in limited liability companies. Perhaps none of these absorptions are more worth notice than that of the telegraphic agency of Mr. Julius Reuter, the German Jew who for several years past has had the sole direction of that immense machinery which is indicated by the word's "Router's telegrams." If tnere ever were a man of determined energy and per. severance it is Mr. Julius Reuter. Many years ago he commenced business single-handed (and he has re- mained single-handed till now) in a small office in Chancery-lane. He hada few agents on the continent, and commenced obtaining foreign new?, and sending it round to the daily newspapers. The papers would not take his news; but he was undiscouraged; he persevered, day after day and week after week; still his news was pooh-pood'd. But one fine morning there came to the offices of the daily newspapers, through Mr. Reuter's agency, news of a victory by the Allies in the Crimea. One or two of the papers used the news, without pledging themselves to its accuracy. The news was confirmed; and the proprietors of the daily papers began, figuratively speaking, to scratch their heads. The energetic Jew continued his work, losing a large sum every week, and still his telegrams were rejected. But there came a fine evening which brought, through his agency again, the substance of a speech by the most powerful sovereign in Europe, the Emperor of the French. To use it or not to use it-that was the question. Some journals used it, and some did not, the public (caring nothing how the news is brought so that it comes), not failing to draw their inferences as to the superiority of the management of some journals over others. This was Mr. Reuter's coup d'etat. He had gained the victory. From that time to the present he has had almost the monopoly of supplying tele- graphic news, and he has done his work welL I remember that Rothschild-the Rothschild-used to make thousands upon thousands by his pigeon ex- presses during the war. On the eve of the battle of Waterloo he went beyond this; he was on the field of battle, and the moment he found the French were beaten, he hurried off, posted at as rapid a rate as post-horses and diligences could carry him, and paid a fisherman' an enormous price to put off at Calais in very rough weather. The Jew banker reached Dover with the news in his pocket of the French defeat at Waterloo. Posting to the Stock Exchange, old Rothschild put on a sonowful counte. nance and spread the news of a French victory. He even sold out some stock, but secretly he had a number of agents who bought in, and he thus made that inde- finite sum which is called "a mint of money." Mr. Julius Reuter has never been known, and never even has been charged with doing this, though he has thus had in his possession what Dr. Johnson said Mr, Thrale the brewer, hadâ" a potentiality of wealth beyond the dreams of avarice." Some time ago the daily newspapers had a meeting on the subject of Mr. Reuter's telegrams; it was thought that he was going too much ahead, and getting the news too much into his own power. The question in fact was--can we do withoat Mr. Reuter ? and it was decided in the nega 1 tive. The Telegraphic News Association, which latelv started, has not at present made much way and the probability is that the limited liability company which has grown omt of Mr. Reuter's scheme will stop any other company coming into the field. The jewellers, bankers, and shopkeepers generally, in the City are becoming alarmed at the number and serious character of the robberies which have recently taken place. The meeting which has been heldâat which such men as Mr. Sari, Mr. Bennett, and other princely shopkeepers, assisted, may be taken as an evidence of but a part of the alarm that is spreading. The City police, who were recently so highly praised (when Sir Richard Mayne wished to amalgamate them with the Metropolitan police), are now soundly rated for their negligence and the probability is that history will repeat itself," and the City shopkeepers will return to the system of private watchmen. Whoever invented valentines invented a pretty conceit, and one which, properly carried out, would be a very pretty and innocent pastime for lovers. But how sadly have valentines degenerated In many of our shops there are some sweetly pretty valentines in which art does its best to evoko love and to express it; but many other shops are also filled with productions possessing not one atom of wit, sense, or sentiment. Utterly disgaceful in design, they are wretched in execution and indecent in tendency. I am surprised indeed, that some of the shopkeepers are not indicted for exposing for sale pictures and "poetry" of a character that the late Lord Campbell certainly in. tended to include in his Act for the suppression of in- decent publications. These valentines cannot but do a great deal of harm, corrupting comparatively innocent minds, without in any way assisting the communion of mind with mind, as St. Valentine intended. The Rev. J. C. M. Bellew is not only one of our most fashionable clergymen, but he is one of the best readers in the world. Tastes differ on such subjects. Some may prefer Mr. Dickens, others Mr. Phelps, others Mr. Creswick; but all admit at all events that Mr. Bellew is a splendid reader, and the remark is very commonly made, What a pitythat Mr. Bellew is not on the stage What a magnificent tragedian he would have made The rev. gentleman, as all the world knows, makes a large income by reading at literary institutions, etc. A gentleman has now written to the Bishop of London, to call his attention to the fact, asking whether he (the Bishop) thinks it right that a clergyman should thus employ himself. The bishop (who never interferes for anything less than an earth- quake) has replied that as the ecclesiastical law does not take cognisance of anything of the kind, he does not wish to move in the matter. If a London correspondent may venture to say that a bishop is right, I will do so. I have heard Mr. Bellew several times. and a more delightful evening cannot well be spent, He never read, I am sure, a line, which, dying, he would wish to blot;" and why should we not have our cakes and ale," thus served up by clerical hands ? Good readers, like good people generally, are scarce, and we cannot do without Buch readers as Mr. Bellew. The quarrels of authors formed a capital theme for the elder Disraeli, and an amusing book (to authors) might be added in reference to,quarrels since the time of the learned Jewish litterateur. The quarrel between the Alhenceum and Mr. Friswellis very interesting to literary students, but is not of sufficient general in- terest for me here to refer to it at length. Having carefully studied the merits of the dispute, however, I find that the literary magnate is wrong, and Mr. Friswell right-not altogether perhaps, but chiefly and the amende of the Athenaium this week is there- fore, scarcely honorable. Referring to one point dis- puted the autocrat of criticism says, So far, Mr. Fruwell is right, and we very cordially credit him with the major part of his reference. As we wish the gen- tleman no harm, we say no more than that we hope to hear of hia being engaged on worthier work than cem- piling books of quotations." Mr. Friswell (who is the author, amongst other books of that charming work The Gentle Life") is engaged, as every literary man knows, on work of a higher character but pour moi, I confess I should like no work to lie on my writing- table better than Familiar Words," and many a literary slave of the lamp, like myself, will say the same.

IMPERIAL PARLIAMENT,

GLISTELLAIKMS

ACTION FOR LIBEL.-DAMAGES…

FAULTS ON BOTH SIDES.

DEATH OF THE DUKE OF NORTHUMBERLAND.

THE USE OF TRACTION ENGINES…

HAVING NOTHING TO DO!

EPITOME OF NEWS.