The Welshman

MR. LAING'S PROPOSAL FOR NOT ECONOMISING I THE METALLIC MONEY OF BRITISH INDIA. Most of the comparatively few persons who understand I the politics of the currency soon saw reason to fear the death of Mr. Wilson would ensure the abandonment, or at least the vital alteration, of his scheme for the introduction of paper money into British India. Before that lamentable event, S:r Charles Wood had suggested a stringent limita- tion of the plan originally proposed. Under other and happier circumstances, Mr. Wilson's prestige aud influence might have secured to it an effectual trial. But under the practical despotism of Sir Charles Wood—' a Peelite before Peel,' the Chairman of the Committee on which the Act of 1844 was founded- it waa not reasonable to expect that a plan so wholly opposed to Sir Charles Wood's fixed and favourite tenets would be retained after the death of its author. It has, we now hear, been abandoned. Mr. Lain" has proposed a plan strictly modelled on the Act of 1844° and it becomes our duty to inquire whether it is better or worse fitted for the purpose in hand than that of his predecessor. The most striking circumstance in the whole subject, and that which still most attracts the attention of every mind, isthe marked contrast between the situuion of Sir -it. Peel in this country in 1841, and the situation in which those who are legislating on the currency of India stand now. Sir R. Peel was about to legislate for a country in which paper money had been long in use-in which it had been issued by many persons-in which, as he firmly believed, it had been deprecated by excess. Accordingly his aim, whe- ther wisely or unwisely, was to limit the extension of the Bank note circulation. He said in reality, if not in words, Paper monev has now been sufficiently used in England we have derived enough advantage from it, and we should not further incur its risks aud dangers; in future for every note issued beyond a sum now once for all to be fixed and and specified, there shall be actual bullion previously de- posited in the vaults of the Bank.' In this manuer he ac- complished his object of limiting and confining the paper currency of this country. Now, on the other hand, the object of the present legisla- tion for India is not to confine or limit, but to introduce and augment a paper currency throughout that part of our Empire. It is argued, 'That the circulation of the whole of our vast territory ii, with a trifling exception, exclusively metallic-that countless sums are at present hoarded there —that since the beginning of recorded trade bullion has been continually sent thither-that of late years more bul- lion than ever before has been sent thither -that the na- tional economy to be obtained by the substitution of paper for any part of this vact aggregate would he immense.' It is also said, That the operations of the Government are much impeded by the cumbrous medium in which the taxes are paid—that the guards necessary to secure its safe transit and its safe keeping are very expensive, and that, in con- sequence the financial economy of the suggested institution would be considerable. For these reasons it is justly be- lieved to be of the first importance to introduce a paper money into India; and, accordingly, the avowed object of our present legislation for India is not the same as that which Sir R. Peel proposed to himself in England in 1844, but is precisely the reverse. We are wishin,, t ) foiter and develop that which he desired to limit and restrict. If we remember this, we shall not be surprised to find that the machinery of the act of 1841 is inapplicable to the aim and to the circumstance to which in British India it is now pro- posed to twist it. That machinery having been selected here because it was a preventive check-because it was the most stringent preventive cheek which theorists could de- vise, it is not likely to operate anywhere as an efficient eause of easy development and rapid augmentation. An examination of Mr. Laing's scheme will fully confirm thpsp nrAliminarv anticinations. Ht» nrnnnaM that there r- t"J shall be a fixed limit of £ 4,000,000, after which no issues of paper currency, except on bullion, shall be made in India, just as there is a limit of S,14,000,000 fixed by the Act of 1814 to that part of the note circulation of the Bank of England which is issued upon securities and is not repre- sented by bullion. He says:—"The Banks of Bengal, Madras, and Culcutta are entitled under their charters to issue in the whole 9.5,000,000 of notes, against which they are, however, compeltedto keep one-fourth, or X,1,250,000 in bullion. It may therefore be said that there is already in India an authorised issue of paper unrepresented by bullion of nearly four millions, and it may be assumed that the paper circulation will never hereafter fall below this minimum. At this point, therefore, I propose to stop." For the present, no further substitution of paper for coin is, he thinks, safe and expedient. If at any future time the Legislative Council think differently, a new law can be enacted, and the paper money of India augmented. It is evident on the face of it that this is expressly and avowedly a scheme for not introducing a piper currency into India. At present, the circulation of three banks of the Presidency towns is almost wholly confined to those towns and to small districts very near them. Mr. Laing enacts that they shall transfer this circulation to the Go- vernment, and he has doubtless arranged with them to that effect; but he proposes no expedient for setting free the metallic money of the whole of India. -for giving the whole of that vast area to tho economy of a paper circulation,— for aidiug the operations of the Government, now impeded by the costly hoards they have to guard and the bulky sums they have to transmit; in a word, for relieving our great dependency from the barbarous burden by which it is ham- pered, and for giving to it the civilised expedient by which it shall be aided. Mr. Wilson's scheme aimed at these great objects. He specified no arbitrary maximum beyond which the economy of a paper circulation of India should not be permitted to advance, but lie was at the same time careful to take the most ample precautions which the circumstances permitted against possible dangers and inevitable risks. He proposed to keep at least one-third of the amount issued in bullion, and the remainder in the most convertible securities which could be obtained. As, therefore, the paper circulation of the country extended, he would have been able, gradually and constantly, to make use of the coin for which it would have been substituted. He hoped -and we believe he hoped for the most convincing reasons—to be able to extenit tho use y II. J_"J 1-1! in a few years he did not anticipate that he should in so short a time reach the absorbed hoards, but he trusted that he should be able to introduce much paper into the current money of common operations. During those years, by the use of a flexible and elastic principle, he would have economised much of the metallic money for which the circulating paper had been substituted. If the paper money of India had been 21 millions-no extravagant supposition —ho would have been legally able to have employed pro- ductively 14 millions, and practically able to use some great amount-say 10 millions or 11 millions. Why, then, has this great scheme been relinquished ? We believe for two reasons. First, it is said that when any fixed proportion of the issue is by law represented by bullion, there may in certain circumstances of discredit bo considerable danger. It is feared that you will not be able to keep it. If, for example, the circulation were twenty-one millions, of which only seven were retained in specie, if there were a considerable run—if payment were required of one million, —the reserve would be reduced to six millions, which is not a third of the twenty millions which would by that time be the circulation. Mr Wilson was not a man to be blind to so evident an objection, and we have tho best means of knowing how he intended to meet it. He had resolved to keep very much more than one-third, something like a half of the paper circulation in his specie reserve, and so to be prepared to meet any discredit which was rational or probable. Of course against a national panic no systm of paper currency can be secure. If there should be an in- tense and diffused apprehension as to the stability of our Indian Empire, even Mr. Laing's minute scheme would not be safe for a day and against everything else, by judicious watchfulness and steady prudence, Mr Wilson's might have been made safe. Secondly, it is said that Mr. Wilson's plan would de- preciate the currency of India. And in this objection there is a certain correctness. Every substitution of a paper cur- rency for a metallic currency is attended by a depreciation i in fact, a monetary depreciation is the precise process by which this substitution is effected. By no writer has this primary truth been better elucidated than by Ricardo. "If," he ,a s ,a mine of gold were discovered in Franco or England, the currency of that country would be lowered in value in consequence of the increased quantity of the pre- cious metals brought into circulation, and would therefore no longer be of the same value as that of other countries. Gold and silver, whether in coin or in bullion, obeying the law which regulates all other commodities, would imme- diately become articles of exportation; they would leave the country where they were cheap for those countries where they were dear, and would continue to do so, as long as the mine should prove productive, and till the proportion exist- ing between capital and money in each country before the discovery of the mine, were again established, and gold and silver restored everywhere to one value. In return for the gold exported; commodities would be imported and though what is usually termed the balance of trade would be against the country exporting money or bullion, it would be evident that she was carrying on a most advantageous trade, ex- porting that which was no way useful to her, for commodi- ties which might be employed in the extension of her manu- factures, and the increase of her wealth. If, instead of a mine being discovered in any country, a bank were estab- lished, such as the Bank of England, with the power of issuing its notes for a circulating medium afcer a large amount had been issued, either by way of loan to merchants or by advances to Government, tnereby adding considerably to the sum of the currency, the same effect would follow as in the case of the mine. The circulating medium would be lowered in value, and goods would experience a proportion- ate rise. The equilibrium between that and other nations would only be restored by the exportation of part of the coin. The establishment of the bank, and the consequent issue of its notes, therefore, as well as the discovery or ulo mine, operate as an inducement to the exportation either of bullion, or of coin, and are beneficial only in as far as that object may be accomplished. That the momentary depreciation of the currency is to some extent an evil is certain. But it is equally certain that it is the inevitable purchase money which we must Pay for the advantage we wish to obtain. Gold and silver can- not be expelled from a country except by being made cheap there. A transitory variation in the value of the precious metals is the necessary price at which a country which has already a large metallic circulation can alone obtain the great and permanent economy of a p iper one. I,ilorc IS no individual peculiarity in Mr Wilson's scheme which has ever been indicated as especially exposing it to the objec- tion of producing depreciation. It is only open to tnat ob jection iu the same degree and in the same manner as all other schemes which effect the coveted object are and must be open to it. It is painful to us to think that, on gr?Und,i which seem so feeble, so great a scheme as Mr Wilson,s should have been relinquished, and with it the whole idea of economising the metallic currency of British Inùll. Per- haps an equally great attempt has rarely been abandoned from doubts equally unfounded. It may, however, he said that it has not been abiiidoiiedo —that the great object of obtaining the desired economy will be obtained by Mr. Laing by another expedient. In England it has been frequently proposed that the limit of Y,14,000,000 placed by the Act of 1844 on the isme of Bank of England notes, should be extended toY16 000,000 or some higher sum and it may be suggested that by an analogous act of legislation the £ 4,000,000 now fixed as the hult to the corresponding portion of the Indian paper currency may be extended to X8,000,000 or some other sum. But though this may be theoretically said, we scarcely think it will j practically be thought. In this country the framers of the Act of 1844, as well as its principal advocate, hate ever been rigidly and consistently opposed to any extension of the limit of £ 14,000,000. And so it will be in India. On the princi- ple of the new measure there is no alternative. The sudden extension of the fixed limit is attended by the anticipated dang r of depreciating the currency, and attended by it in an aggravated form. Under such a process as Mr Wilson proposed, the substitution of paper for coin woulJ have been insensible and gradu," I and, as he would never have used more than half the coin so set free, the variation in the value of silver would have be n also gradual and insPIIsible, probably it would have been almost imperceptible in the common prices of ordinary commodities, and only felt in the refined operations of the foreign exchanges. Any way it would have been a slow and unalarming process. But the fixed limit is suddenly extended, if the limit which may be issued 011 securities is on a sudden raised from £ 4,000,000 to £ 8,000,000. 011 a single day zC-1,000,000 of ne.v money would be thrown en masse npon the money-market, and the instantaneous effuct would be serious and important. As we believe that even Mr. Wilson's scheme has been aban- doned from conscientious scruples of needless caution, we are sure that a sudden step so much moic daring than any- thing which he prop" osed is not now contemplated, and will never be proposed. The express consent of the Legislative Council will be required for any extension of the limit, and even the fair discussion of its expediency might be at times dangerous in the sensitive money maket of Asiatic cities. As has been the case in this country, so it will he in India, the legislative limit first fixed for the issues unrepresented by bullion will iprobably be adhered to in perpetuity -in other words, by the present plan nothing which is truly valuable will be really done. Perhaps it may be said that the conductors of this journal are hardly impartial judges of the expediency or inexpe- diency of any plan of Mr Wilson's-least of all of this, to which it is known that he attached great value. Neverthe- less, we believe that we can distinguish between our feet- ings and our judgment. For the foregoing reasons, we are sure that a great error has been committed, that a great task has been relinquished, that a statesmanlike duty will be left unperformed we believe that the original scheme for introducing a paper currency into India would have been effectual, and would uot have been danerolls: we believe that, heing a measure designed to augment and develop a paper curiency, it has been assuredly modelled upon an Act designed to Umit and restrict-and that most stringently- another currency of identically the same nature. If the plan of Mr Laiug be scrutinise with scientific accuracy, it is not exactly in conformity even with the principles of Sir R. Peel. It has the defects of Sir R. Peel's plan without the advantages. Sir R. Peel based his limit on the actual ciiculitiou of the Bank of England. Mr. Laing bases his upon the legal aud theoretical circula- tion of the Banks of India. By the last return the notes in circulation reach the following amounts Notes in Circulation. The Bank of Bengal. 1,8,51,627 Horubay 1,rOG,460 Madras 223,512 3,081,599 Yet Mr Lung's limit is £ 1,000,003. Sir H. Peel took less than the real circulation; Mr Laing more, to the extent of the ditference between the limit prescribed and the amount of the actual circulation. Mr Laing's is ex- posed to all the dangers which Sir R. Peel apprehended, and has none of the safeguards which Mr Wilson had pro- vided.-Efc,o)ioiiiist. THE PARLIAMENTARY TRUCE OF GOD. I i he session thus far has not been advantageous to the Whigs. The Premier committed a blunder at the begin- ning of the session, by leaving Parliament no work on whiell to employ it; superabundant engeries. The Bank- ruptcy Bill is the sole ministerial measure of any difficulty, and bankruptcy bills, however important, offer little scope for party debate. A Tory wants to see a defaulter punished just as much as a Wnig, and is just as anxious not to con- found insolvency with indebtedness. Sir C. Lewis had a Highway Bit!, but Liberal bones suffer from jotling nearly as inudh as those of a Conservative. Mr. Gladstone bad a Savings Bank Bill, but the Opposition are not disin- clined to see savings banks multiplied, or a great loan quietly raised at two and a half per cent. in,. House of Commons accordingly, having nothing to d.), began like any other group of idle children, to try whether mis- chief might not be a preservative from ennui. Everybody with a pet project brought it forward for discussion. Every- bodywithout.a. project, but conscious of knowledge or tluency, or expectant constituents, moved a resolution or demanded a select committee, or asked a Minister to tcll'him just what the Minister was most anxious to conceal. Of course, in such a line of assault the attacking party has every advantage. If the committeo is refused, the party, as a party, has lost nothing. If the resolution seems likely to be defeated, an adroit leader of opposition will advise his follower to withdraw it. As to interpellations they have an unmixed advantage, for they can be directed so as to avoid all the points on which the official explanation would cer- tainly be complete, and there is no fear of reprisals. No Minister asks Mr. Disraeli what he would do with the Pope, or plagues ir J, Pakington about a ship which cannot be caught up, or even asks Lord Derby how he can defend his conduct with deference to Vattel and the Law of NatIons. Accordingly, the Government, reduced to the defensive, has been declared perpetually in the wrong. The Cabinet has been forced to grant a committee on the Diplomatic Service, intended to turn the service into a middle-class training- school, without a division. It resisted in vain a proposal for a select committee to inquire into the military relations of the empire and her colonies. It divided fruitlessly against Mr. Hubbard's proposal to rearrange the incidence of the income tax in a direction hostile to realized property. Then Lord Palmerston, after a hopeless defett on a proposal to inquire into the piy of the navy, was compelled to make it a question of conifdence, and rescind the vote by a whipped-up majority. And, finally, aq if to add humilia- tion to defeat, the Premier, whose strength is in his f reien r ,1:), (,1. v.i. <• »1,„ «» 1: un-igii- office despatches twenty years ago, and was only saved from censure by the interposition of his foes. The negative action of the session has been equally ad- verse to tho Liberals. The abandonment of Reform was in itself wise, still it deprives them of a powerful weapon for the hustings, and enables Lord John Russell to assume his favourite position-magnanimous, but apart. The con- cession, too, deprives them of the hearty support of men of extreme opionions, always very appreciable in a division, and leaves them for the hour without a domestic party policy. Nor is the country quite pleased to see that Go- vernment makes no effort to remedy the admitted defects of the Poor Law, proposes no reorganization of the Admiralty, has nothing to suggest for India, aud only a policy of waiting for New Zealand. There is doubtless such a policy as judicious inaction, but it is one which public opinion is very slow to recognize, and very apt to confound with that other policy described in the popular dialect as shirking woik," Of couise, with no question of importance before the nation, and no work promised to the House, with little evident in our action abroad, and a regime of silent pro- crastination established at home, the elections have been decided on grounds apart from politicl. In vel-5, quiet time it is thu Con-ieryatives who win, and between Tory victories at the poll and the general apathy of the Liberals matters seem to have airived pietty much at this point. The Tories could come 111 if their leaders chose, but their leaders, for very obvious reasons, do not choose. They could not accept power without carrying out iu their foreign policy principles which would strengthen the hands of Austria, and a conflict with the nation on the Italian ques tion would be fatal to their prospects for ten years. Lord Derby therefore contents himself with remarks mournfully regretful of the rookeries the London Railways are sweeping away, and Mr. Disraeli rises with an air of suave patronage to throw his tegis over the erring but pardonable Premier. Three times in the session he has repeated this process, and three times the disappointed expectants, the clever young men hungering for office, have followed their chief, cursing hut obedient, into the Ministerial lobby. The spectacle, however amusing to a dilettante observer, is not quite so pleasing either to those who appreciate strong government or to those who sincerely believe that the fall of the Whig Ministry would endanger the tranquillity of Europe. The root of the mischief is the absence of distinct objects of legislation, and we trust that the recess, if it produces no bills, will at least allow time for the preparation of so ne administrative reforms. The Budget will, doubtless, be the turning-point of the session, but even a successful Budget will not keep unemployed minds from wasting themselves on criticism which soon degenorates into ca v it.-SI)eot(ttol..

The na,ne and trade mark of a good manufacturer is a guarantee of goodness in the article. Mappin Brothers, London Bridge, and Queen's Cutlery Works, Sheffield, lay claim to this title of-good English Manufacturers. MAITIN BHOI'IIKKS' T.HI,E CUTLF.lt¥.-1\lappin Bro- thers London show rooms are at Loudon Bridge. Es- tabli-hed in Sheffield A.D. 1S10. None arc genuine without tl.eir| Per Dozen. Per Pair Corporate Mark—the Sun," _1_ granted to their father by the Table Dessert p Cutlers' Company of Sheffield, Knives. Knives ??'?' June 26th, 1835 Full Size. s. d. s. d. s. d. Black Handles balance 12 0 10 0 4 0 Bone ditto, ditto 16 G l2 6 a-0 Ivory diLt,), ordinary quality 22 0 16 0 7 6 Ivory ditto, tnediutu quality 33 0 23 0 11 0 Ivory ditto, best quality 46 0 34 0 15 6 ixone ot the above can come loose in hot water. -,ID',ER- TISEMENT. 6, Queen Street, London, 23rd August, 1860. Messrs. R. Wotherspoon & Co., 46, Dunlop Street, Glasgow. DEAlt SIRS, -I have, as requested, to-day visited the Royal Laundry, with reference to the Advertisement of the Nottingham firm, who state that their starch has been used for many years in the Royal Laundry, and have been assured by Mr. Thompson, the Superintendent, that none but yourselves have any right to state that they supply Starch to hor Majesty's Laundry, as no other Starch is there used, nor has been used for some years, but the Glen- field Patent Starch. I have been further assured that your Starch coo inues to give complete satisfaction, and that though trial has been made of samples of various Starches, none of these have been found nearly equal in quality to the Glenfield, I am. Dear Sirs. your obedient servant, I WM. BLACK, I ?-I'll??'ll'l"?l""I "I'

COUNTY COURTS. I CIRCUITS. MARCH. APlUL. MAY. Aberaeron No Court Th. 4, ..11.0 No Court Llandovery.. No Court Fr. 5, 11.0 No Court Lampeter No Court Sa. 6, 11.0 No Court Llaudilo No Court M. 8, 10.0 No Court Llanelly 'Pu. 199 at 1. 15 Tu. 16, 11.15 Tu. 14,11.15 Neath W 20, .0 W. 17, IO.?W.15,.10.0 Carmarthen Fr. 22, 10 0 Fr. 19,. 10.0Fr.l7.. 100 Narberth Sa. 23, 10.0 Sa. 20, 10.0 Sa. 18,10.0 Pembroke M. 25, 10.15 M. 22, 1015 M. 20: 10.1,5 HWest Tu26, .10.0Tu.23,. 10.0Tu.21,.10.0 Cardigan. W. 27.12.301 W. 24, ..12.30 W. 22,12.30 NewXSo Th .28, 10.0 No Court ?Th.23,10.0

I SOUTH WALES RAILWAY. Stating il & ? 1 2 3 I 2 1 ScJ I ? 3 1 & 2 Exp from class class class el2l-i's:s I Exp. class [ & Ip. m a.m. a.m. a.m. a.m a.m. p. m. Paddington.. 8.10 6.0 9.40 7.30 11.0 4.50 ),vind()n ar 10.351 ..1 9.0 11,35 12.10 1.15 6.40 Swindon ..de 10.47 9.25 11.45 1.30 C 52 Glo'ster ar 12.15 11..511..5 .20 b.10 Mail 1&2 1,2,3 (1 Glo ,t" 2:J!.o :I'.21 I 3.30 8.20 H.R.&G.H,y. I Hereford..de 10.0 1.25 5.45 doss. 110.30r' 1.55 o.l5 Gr;iugc Ct. J 11.0 2.20 t\45 GranL'e Ct. de 7.511.301.25? 3..?o 8.35 ewnham 2.40 7.17 1.40 4.0 I 8.40 i Lydney 2.56 7.37111.5,S 4.20 8.54 Woolaston 7 45 12.5 4.28 Chepstow 3.14 7 55 12.17 1.55 4.40 9.9 j Port-kewet 8.7 12.27 4.52 Magor 8.17 12.37 5.4 Llanwern 8:2.5/ 5.14 Newport..?? 8.3512.5.52.20 5.25 Newport ..?c 3.48 8.40 1.0 2.30 5.35 9 34 i Cardie 4.12 9.5 1.2.5 2.46 6.3 9.54 Bridgend 4.52 10.0 2.22 3.15 7.3 10.27 Port Talbot.. 5.18 #> 10.29 2.51 3.33 7.31 10.50 Neath 5.?10 ? 10.44 3.4 3.41 7.4611.0 Ditto .? 5.32 10.4713.8 3.45 7.50 H-4 Swansea ..ar 62 1,2,3 11.23 3.35 4.15 8.2511.25 a.m. 1,2,3 Ditto.?5.37 8.0 11.0 4.10 3.55 8.0 Landore 552 8.1011.1814.2014.8 8.18 Gower Rd 8.22 11.33 4.40 838 Loughor 'I" 8.2711.39 4.451 8.43 Llanelly 6.17 8.3711.48 4.55 4.35 8.53 Pembrey 8.45 11.58 5.5 9.3"" Kidwelly. 6.37 8.57 12.7 5.15 9.15 Forryside 9.7 12.19 5.27 5.5 9.2.5 Pem b re y f73.42 7 ? 9201234 542 520 9.40 Carm.June. 72 9201234 542 520 9.40 St. Clears. 7.21 9 36 12.50 5.58 NVhitiand '1952 1.6 6.13 Narberth ltd. i.43110 7 1.21 6.28 5.55 Hverfordwest 8.II1IO 32 1.46 6.55 6 15 Milford Rond 8 26 10 4 8 22 o? 6.25 (for ??lil',Or( 8.261048 2.2 -I 7.10 6.25 New Milford 8.36,11 0 2.15 7.20 6.35! The 6.0 a.m. train from Paddington is 1st, 2nd, and 3rd class to S.W.R. only and Ireland.

Starting Irish 1,2,3 l& 2 1,2,3 Exp. 1,2,3 Mail 1,2,3 from Exp. ? class class ? class 1 & 2 class 1 & ,lass 1 &2- a.m. a.m. a.m. a.m. p.m. a.m. p.m. p.m New Milford 2.45 8.15 11 0 4 26 6 30 Milford Road 8.30 g* 11 12 4 41 6.45 ttaverfordwest( j ? 8.40 11 27 450 6.55 Clarb. Rd.. 8.52 ? 1142 7.8 Narberth Rd. I 9.5 IC, 122 5 18 7.25 \Vhit!and. ? 9.20 a 12 15 7.37 St.Clears. "?9.3j 1228'5.40 7.52 Oarm. un. ? 3.52 6.1.5 9.55 > 12-50 5.59 8.10 Ferryside. 6.30 10.10 S 15 6.14 8.23 Kidwe!ly. 64010.22 1 17 6.24 8 33 Pembrey 6.50 10.34 ? 1*30 •• 8.45 Llanelly 7.2 10.45 3 1.41 6.44 8.55 Loughor 7.10 10.55 § 1.50 9.4 Landore 4.48 7.35 11.20 S 2.14 7 9 9.34 Swansea ..ar 4.55 7.4511.30 J 2.24 7.24 9.39 Exp. —— I)itto .del 4.45 7.25 11-13 10 50 2.9 7.0 Landore 4.50 7.40 11.23 11.0 ¥ 2 1!) 7 14 Neath ai- 7 :45,?, 11.38 16, '?.37 7.29 Ditto.? 8'011.40 11:181 2.40 7.31 Briton F.?ry 8.8 11.26 2.-17 Port Talbot. 8.21 11.51 11.34 £ 2.58 7.42 Pyle 8.40 .52 1 3.17 Bridgend 5.23 9.0 12.18 12.23 £ 3 37 8.7 I'encned 9 9 •• 12.31 ? 3.47 Cardiff 6. 9.56 12.49 1.17 5 4.36 8.49 N CWPOl t ..m 6.23 10.23 1.10 1.45 ? 5.8 Newport ..?- 6.28 10.30 1 20 1.50 » 5.14 9.13 Chep?tow. 6.53 11.9 1.46 2.33 & 5.57 9.47 Woolaston 11.21 2.43 a 6.8 Lydney 7.8 11.29 3.0 g" 6.18 10.5 Vcwnham 7.23 H.50 13.19 >3 6.4010.21 Grange Crt. ar 7.31 12.2 2.15 3.31 g 6 5o ILRT& G. Ry~~ Grange Ct. de 8.45 3.50 3.50 845 Ross. 9.15 4.254.25 ? 915 Hercfnrd..arr 9.45 5.0 50 9 45 GIO'st" all i.50b.30i 2.3il;. Ii 7.10 10.471 1 &2 j' 1 & 2 Ub'ster ..? 8.0 12.40 2.45. 3.55 g, 7.20112.40 Swindon ..ar 9.15 2.25 4.5 5.45 03 8.55?2.10 1 & 2 ? 1,2,3 Swindon ?e 9.30 2.40: 4.15 6.0 'I ? 9.5 2.20 2.50 Reading .10.284.3 7.5 :? o 10.12 3.32? 6.5 I paddin?tou..ll.l55.0 6 0 8.50 J' 11.0 4.35! 8.0

SUNDAYS, DOWN TRAINS. SUNDAYS. UP TRAINS. 1,2,3 1,223 Startg. from 1,2,3 1,2,3 1,2,3 a. m. a. m. a. m. p. m. a. ni. p. m. Padding tall 8.0 NewMitford 10.40 Slough 8.55 MilfordRoad 10 55 Reading 9.40 H. West H''?^ 1> -/1. () "X V I' J." o.Å I U. l\.IV.I.l.1 .1 1 Ú i Swindon.ar 11.50 .j Whitland 11,49 Ditto..? 1.5 .JSt. Cle;irs.: 12.2 'Glo'ster?- 2.15 .Carm J uuc 12.21 6.15 (lio'ster..de 3.0 9'?6i Ferryside 12.40 6.30 Grange Crt 3.20 9.43 Kidwelly 12.52 6.42 Nownham. 3.25 9.48 Pembrey 1,2,3 1.5 6.55 1,,?,dney 3.48 10.11? Llaneliy 1. 1(; 7.6 1 Woolaston 3.58 10.21 Loughor 1 25 7.15 Chepstow 4.15 10.38 Landore a. m. 1.45 7.40 Newport ar 5 0 11.27 Swansea ar 1.50 7.45 Newport de 7.0 5.5 11.37 Ditto de 8.50 2.10 750 Carditr 7.26 5.29 12.3 Landore 8.55 2.18 7 58 Bridgend.. 8.21 6.28 12.57 Neath ..ar 9.13 2.30 8.13 Port Talbot 8.50 6.5G 1.20] Ditto ..de 9.15 2.32 8.15 Neath ..ar 9.3 7.12 1.39! Tort Talbot 9.30 2.44 8.30 Ditto ..f? 9.8 7.17 1.41 j Briduend 10.2 3.13 858 Landore 9.28 7.42 2.1 I Cardiff 11.0 4.6 958 Swansea ar 9.33 7.47 2.6 ?Newport ar 11.23 4.33 10.25 Ditto ..? 9.38\ 7.52 ]j Ditto de 4.38 L?udore ..1 9.48 7.57 Chepstow 5.16  Loughor 10 5 8 14 Woolaston 5.36 L?.teUy..i0.138.24 Lyducy 4' J. ù.. I U 'J. -:I: Pembrey 10.23 8.33 Newnham 5.56 Kidtv?Hy..lo.3o 8.41 ?mnge Crt. 6.41"" Perrysi(le 10.45 8.51 Glo'ster ar 6.2o? Cartn June. 11.0 9.9 I. il'<!I'ster de 6.25 St. Clears.. 9.29 8 wintion a?- 8 0 I Whitland.. 9.46 Ditto, .de ? 15 j ? N?b.Kd. 10.0 Didcot 9.10 11. West 10.34 Reading 45 { 10 MUfordRMd 10. ) ?sl,)U;,Il 10?10 )? NewMHford U.O ?r.iddtn?t?a .lu5U J The Mail Trains run the same on Sundays as week days, with this exeeptiou,—that on Sundays the 4.26 p.m. Up-train, and the 2.15 a m. Down-train, carries 3rd class passengers between Carmarthen and New Milford.

I SOUTH IVALES, MIDLANDS; & NORTH EASTERN RAILWAYS. ?UP-TR.UNS. WEEK DAYS. SUNDYYS. Ex. !12 3 Ex. 1, 2 1, 2 12 3 1,2 1,2. Iarting from 1, 2 jelass. 1, 2 class, class, class, class. Mail. S. W. RAIL. a. n, 1,,i. in. a. iii. ? a. ni. a. in. a. m. a. m. p. m I ew MlllorJ 24 'I. I,1 1, 110 10 40 426 Carm. June.. 3 52; 6 15 9 55 12 50 12 24 5 50 Swansea 4 451 7 25111 30 10 50 10 50 29 2 10 1 0 Cardiff 6 0 9 56 12 49 ? 31 415 ..5 1 17 ? 4239 6 4610 87 490 C,trdilf 609 56 l 12 49 3 45 715 C, 20 1 849 Glo'stcr. i 50lu :w! 237 345 345 715 6 20 U) 47 MIDLANDS,&e a. m.ji>. m. p. m. p. m. p. m. p. m. p. '-IP' Glo'ster d. do 8 0 1255 1 3 52 352 7 55 8 0 11 5 (ilo'. arr 9 40 2 25 5 32 5 32 9 40 945 ? 1121620 a. m. p. m. p. m. p. in. p. m.jp. rn. p. m Glo'ster d. up 8201255 3 20 4 24 640 822 G50?J Worcester arr 9 28 2 5 4 40 5 20 810 927 820 mrmingham 10 50 3 25 6 0 6 20 9 45 10 30 9 45 Derby 10 610 7 50 750? 1241 12 44 Leeds 3 35 10 25 ?33.5 3-35 'i. P. lp1' III a. rn.i a. m, Hull 7 0 11 45 4 3 I 4 32  \P:. in ? I4-) ? a. m;¡a. m'j"" York 4 lo ,10 00 3 34 | 3 34 ?ewcastlo. 7 45 j 61 l? 61 THIRD CLASS AltRANGr.UENTS.-UP, 3rd el. Passengers will be booked Through by the 2.45 a.m Express Train to all Stations North of Derby. 3rd el. Passengers by the 6.15 a.m. Train will be booked 3rd class up to Derby and to Bristol. 3rd cl. Passengers by the 11.0 a.m. Train will be booked 3rd class to Bristol. 3rd cl. Passengers by the 10.20 a.m. Train will be booked rd class up to Birmingham. DOWN. WEEK DAYS. SUNDAYS. 123 1, 2 ) 1, 2 "l72 1 2 3 1, 2 ?' ? 1. 2 Starting from class, class,jelass. class, class, class, class. class N. EAST ¡I'i;I: a. m. a nv 'P7' a. m. Newcastle..d. 78 li '5 115 5 158 20 78 j York 9 38 2 10 2 10 9 45 1 4o 938 Hull 8 21 I.. 0 10 4°1' 821 Hull. 821 84 51 4« in. MIDLANDS, &E p. m. a. m. 'î. '3(¡: P9 5 <1., Ill, Leeds 055 3 0 «■ 1230 v 9 5o !)? 1233 720 720 3301233 Birmingham 2 45 7 5 10 0 5 15 2 45 6 45 Worcester. 3 41 8 4° 1 2o 11 2o 6 32 3 41 8 15! Glo'ster ..arr 440 10" U 40 1240 1-4,-)! 141 81,5 i. ui.fi. m p. m. a. m.lp. m. a. m Bristol ..dep 9 0 '0 1 Pi 12 45| 6 .5o j 6 30 Bristol d e p to 4 .5 1 12 1-5 3102 8 10 810 Glo'ster .u-r _.??0?124) 3 10 2 0 j 8 10 [ 8 10 ? sT?vTKin?' ? "? f- r" P; "MP- m?7m.!p. m. ia. m. p. m. Glo'ster ..dep 6 45 11 10 1 10 3 30j 2 15! 820 920 30 Swansea U 23 3 3o 4 loj 825 62 112.5 2 6 7 4 *1232 540 5 118 5 1940 ? 76 ) li 25 2 96 20 30 New Milford 215 7 20 6 35- 8 361 | 111 0 THIRD CLASS ARRANGEMENTS,—DOWN. 3rd el. pass, booked thro' by 7.5 a m. train from Binning. 3rd id ;> •.»a. hooked lino' hy 9.0 a.m. t> i- < from Bristol. 3rd el. booked thro' by 3rd cl. pass. booked thro' by 7 20 a.m. train from Derby and stations North of Birmingham. 3rd cl. pass, booked thro' by 5.15 a.m. tram fromNew- ftstle and all stations North of Derby.

.—-—- ——— f —— I VALE OF NEATH RAILWAY. UP TRAIN S WEEK DAYS. IS UNDA YS. 2 31 2 3 1 2 3:1 2 3 1 2 3 1 2 3 Startmg From jClass Class,Class Class Class Class SOUTH WALES A.At P.M. P.M. P.M A.M. P.M. Swansea .dep.! 7 25 2 9; 7 0 S 50 7 50 Llansamlet j 7 50 2 28j 9 5 8 5' Neath.arr.; 7 55 2 37 7 29 9 13 8 13 VALE OF NEATH. Neall, d,p. 830252 7 45, 9 20 8 30 Aberdylais 1 8 35 2 57 750: 925 8 35 Resolven 8 47 3 9: 8 OJ 9 35 845 Glyn-Nieath 857319 8 8] 9 43 8 53 Hirwain .arr.! 9 17 3 39 8 23 10 3 9 13 Hirwain d. for Aberdar' 9 23 3 4.5 6 30 8 351.0 10 9 20 Aberdare Arrival 1 93.5357 6 45 8 45110 20 9 30 Hirwain d. for Merthr 1 920342 8 31,10 6 9 16 Llwydcoed j 9 27 3 49 8 38):) 13 9 23 Merthyr Arrival 9 50, 4 12 9 0 10 35 9 45 DOWN TRAINS. _1 'E:_DAYS. SUNDAYS I' 11 3 3 1 2 3 1 2 3 1 2 3 12 1 2 3 1 3 3 1 23 1 2 3 1 2 3 fF?TT3 SCtf art.i. ng F-v rom Clags ciass^lass Class Class O s E-O-E:¡ A.M. P.M. P.M. P.M. A.M. P. .1 Merthyr dep.! 8 55 1 5" 6 0 7 45 5 5' Llwydcoed 1 9 12 2 7 6 17 8 2 6 Hirwain. arr. 9 18 2 13 6 23 8 8 6 1 Aberdare Departure 9 0 1 55 6 51s 10? 7 50 55 Hirwain Arrival 9 13 2 8 6 18, 8 23 8 3 6 8 31 6 Hirwain dep.] 921215 6 25 8 10 6 L HirA,a i n 941234 6 44 8 29 Glyn-Neath 9 41 2 34 6 44 8 29 6? Resolven j 9 51 i 2 43 6 53 8 38j 6 3 Aberdylais.110 5 2 55 7 5 8 50! 6 6 Neath .arr.10 10 3 0, 7 10 1855: 7 ) SOUTH WALES. Ne?th. dep.'lO 47 3 8 750' 9 8 7 1 Neutli der.10 473 8 7 50 1 9 8? 7 T Swansea. arr.:U 23 3 35 82;j ..19 3; 7

LLANELLY, LLANDILO, LLANDOVERY, AND CWMAMMAN RAILWAY.  I UP TRAINS. Class Class Classm Starting ?'OM A.M. -I- LIanelIy(S.W.R.St)9 0,120 5'10 S Dock '19 ,? ¡l 4 515 Bynea 9 15 )1212 0 25 Llangennech 9 20 12 IS 5 30 3 Pontardulais 9 30 12 25 5 40 P- Pantyffynon 9 45 12 35 5 55 ? I ———————.—————————————— co Ga-depai"turel920I11 5 30 Cross Inn" 9 40 5 50 $ Cross Inn arrival 9 50 6 0 M Garnant.. 10 10 6 20 8 Ela.d?,bl: e950 12 40 ¡16(j n Derwydd Road 9 55 12 45 6 5 0 Fairfach 10 5 12 55 6 15 2 1 Llandilo 10 10 1 0 66 20 j Glanrhyd 10 20 1 10 ?30 Z Llang,idock :I10 25115 66 42 Ej Lampeter Koad.jl030 12o!6o0 § Llaudovery .tl0 40?1 30)7 0 -DOWN Tl; ?,'?'? ?',?'S i ??'" DOWN TRAINS. Class Cl.,5;: Class q Starting from A.M. P.M. j r.M. 3 Llandovery 8 45 11 40 4 50 Larapeter ltoad 855 ill 5050 Llangadock 9 0 11 55 jo 5 1-3 Glanrhyd 9520 5 10 ga Llandilo 915 12 10 520 > Fairfach 9 20 12 15 5 25 5 Derwydd Road 9 30 12 2,1535 co Llandebie 9 35 12 30 I 5 40 0. Pantyffynon 9 45 12 35 I 5 55 0 o W Garnant..departure 9 20 ?30 y Cross Inn 'J 40 5 50 [s» Cross Inn an'ival 9 50 0 0 [" Q Garnant.. ??,? 10 ]'0 ? 6 20 §0 Pontardulais.10 0 1250 I G 51 S Llangennech 10710 6 12 2 Bynea 10 15 1 10 i 6 20 2 Dock 10 2-1120 625 § LlaneHy(S.W.R.St)1030 12.5 630 Garnant Passengers wlil be set down or taken up Gellyceidrim or Cross Keys, if required. The Trains will stop at Llangennech, Derwydd Ruad, ail Glanrhyd by Signal only Passengers wishing o aligt must give notice to the Guard at the next Station of ther intention.

TAFF VALE RAILWAY. UP TRAINS. WEEK DAYS. SUNDAYE _n_ I 1 2 3!1 2 Starting from ???1,2,31,2,3?1,2,31,2, a.m. p.m. P.M. 1. M. p.m. Cardiff Docks Cardiff 930 310 630 9 0 4 0 U:tndaa' 939 319 6 40 9 9114 9 v = o i.7 -i Q7 6 48 9 17 4 17 TafF's Well  952 Q3 2 6 53 9 2-?4  Treforcst 10 3 3 43 7 5 1 Q.?433 Newbridge ..10 8 3 48 7 11! 9 38 4 38 Aberdare J unction 10 19 3 59 i 7 23 9 49 4 49 Quaker'8YarùJuction'10 32 4 12 7 36 10 2 5 2 forN.A.?11.Railway. 'l'roedyrhiew .1043 4 2317 48 10 13|| 5 13 Merthyr j 10 50 4 30 7 5.5? 10 ?65 20 Aberdare Junction .10 20 4 0 7 25 ?9 50 4 50 Mount?inAsh 10 30 Treaman .10 38 4 18 "? 5 o 9& Aberdare 10 42 4 2?! 7 47 10 12 .) 1 Ol1 WL-?K DAYS. SUNDAYS. Sc,tt art,i■ ng fr rw 1'1 9 A •} Mail. Mail i. 'Iill <S„?, ?/ro? i ?  2 3 1 2 Si1' 2> 3 Mail ,2,31M, 2:u,f3!?.Mail ?a.m. p.m. p.m. a. M. p.m. Merthyr 8? 2 0 6 40 9 10 4 10 Trocdyrhtew. 8 23 2 8 6 49 9 1814 18 Quaker's Yard Junction: 8 34 2 19 7 1 | 9 29 4 29 forNA.?M.i?'I?HLy? i AberdareJuncnon.i847 2 32 7 15 U 14 42 NeWbriù ge 8 57 2 42 7 26 1 9 52 4 52 Treforest 9 2 2 47 7 31 ] V67 5i Taff's Well '1 9 13 2 58 7 42 10 8 5 8 Pentvrch 99 18 3 3 7 47 10 13 5 13 Llandatf 9 26 3 11 7 56 10 21?5 21 Cardiff 9 35 3 20 8 5 j 10 30 5 3(1 Cardiff Docks Aberdare 8 20 2 5 6 4.c 9 151 4 15 Treaman 8 24 2 9 6 45 9 19 4 19 Mountain Ash 8 32 2 17 6 53 i 2T 4 27 Aberdare Junction 8 42 2 27 7 6 74 7

NEWPORT, ABERGAVENNY, & HERl'iFORD RN, DOWN TRAINS. WEEK DAYS. SUND." S. Starting from 1,2 12 3iJ22123123123 a.m. ?l a.,ii. a.m. p.m. a.m. p.m. Shrewsbury. 3 15 112 4014 20 3 151 3 0 Ludto? 4 4? 1 47 5 15 4 451420 Leominster 5 ia 2 101 6 16 5 15 4 45 Hereford dep 8 0 9 30 2 50 6 55 9 0 5 30 Abergavcnny 9 0 11 16 3 49 7 55 10 3636 Usk '?.?rrl020 425? 10 55 7 20 Monmouth arr 11 5 10 11 4085 Monmouth .dep 8 20 2 01 9 15 50 Usk .dep 9 5 3 0 10 0 5 45 Pontypool Road arr 9 30 12 0 4 18 8 25 10 32 7 5 Pontypool Road..de.!1 9 4012 10 4 23 8 25 10 35 7 15 Pontypool 99 4,51 ?' 15 4 28 8 30 10 40 7 20 Crumiin 9 55 12 30 4 40 8 45 10 55 7 35 Trede?ar June. 10 512 40 4 48 8 53 U 5 7 )5 RhymncyJune 10 10 12 50 4 53 8 58 11 12 7 30 Q?taker'? Yard 10 30 1 10 5 9 9 18 11 35 8 10 Merthyr 10 50 4 10 5 25 9 40 11 56 8 35 Pontnewydd 9 50 12 25 4 28 8 35 10 41 7 20 Newport, MiH-street 10 0 12 40 4 381 8 45 i 10 50 7 30 FP TRAINS WEEK DAYS. SUNDAYS. Starting from 1 2 3 1 2 3 1 2 3 1, 2 1 2 3jl 2 3 a.m. a.m. p.m. p.m. a.m. p.m. Newport, Mill-street 7 50 11 10 3, 0 6 30 10 0 5 SO Pontnewydd. 8 0 11 20 3 10 6 40'10 10 5 O Merthyr 10 10 1 45 5 40 9 15 4 45 Quaker's Yard 10 40 2 15 5 55, 9 33 5 5 Rhymney June 10 57 2 3516 loj 9 52 5 24 redear J= i12 -2451" 6 20:-957 5 29 ru!llllD 1112 3 0163010 7 53E Pontypool 11 25 3 15 6 42?10 20 5 5f' Pontypool Road..arr 1132320 649?10255? PontypootRoad.de).8101137323653!10255? Usk .arr 4 25 7 35 10 55 7 ^0 Monmouth arr 5 10[8 2611 40 8 5 Monmouth. "dep 8 20 2 0?545 9 151 5 0 Usk dep 9 5 3 0 6 30 10 0 5 50 Abergavenny 8 42 12 10 3 58722 11 0 628 Hereford dep cil 24 50? 13 22 40 ? 5 15! 8 20 12 5 8 25 eo minster 10 20 5 00 8411240 840 udlow lO 55 3 45 6 14,9 51119 7 ewsbury (2 2505 4 3 545 5 7 6 3104i119 0 052 1 21.1-,119074

ADVERTISEMENTS AND ORDERS RECEIVED BY THE FOLLOWING AGENTS LONDON Mr. White, 33, Fleet-Street Messrs. Newton and Co., 2, Warwick-square Mr. Deacon, 154, Leaden- hall-street; W. Dawson and Son, 74. Cannon-street, Mr. C. Mitchell, Red Lion Court, Fleet-street: Messrs Hawmond and Nephew, 27, Lombard-atreet where the Paper is Sled. Printed and Published iu Lammas Street, in the Parish of St. Peter, in the County of the Borough of Carmarthen, by the Proprietor, JOSEPH HEGINBOTTOM,of Picton Terrace in Carmarthen aforeaaid, FRIDAY, April 5, 1861.