The Queen has conferred upon Lord Normanby the Grand Cross
of the Bath vacant by the death of Sir Robert Gordon.
Three Arctic expeditions are.in preparation to go in search of Sir Jobn Frank- lin and his party. One will be despatched Ma few days to Bebring's Straits; for which service, the Plover brig. is under a process of fitting at Sheernesa. A second, in command of Sir John Ross, will .sail in the spring to Baffin's Bay; and a third, an overland expedition is to leave England in March for Canada, under command of Sir John RicbardsOn. • Three failures were reported ea the Stock Exchange yesterday; the defaulters being, Hr. Charles Young, Mr. J. H Hawkins, and 14r. Henry Turner, all jobber*
News of the suspension of Messrs. W. Farthing, Son, and Co., of Hull, reached town yesterday afternoon. The liabilities of the firm are not mentioned; but the assets are said to show las. in the pound, "which they can realize immediately."
In a lengthened inquiry to account for the improved position of the Bank of England, the Globe reports a fact of some interest—" The increase in the amount of the reserve is almost entirely due to the fact, that the public income has, on the whole, daring the four weeks, exceeded the actual expenditure by nearly two millions and a half sterling; and the Bank having the custody of the balance, it has gone to swell the reserve."
The writer of the City Article of the Times, writing on Thursday amid the exultation caused by what had passed in Parliament, took the occasion to place on record a distinct warning, that although " the panic is at an end," the danger to the commercial world has not yet passed, because the causes of danger have not ceased to operate. There has been enormous over-speculation, and also the usual concomitant of prosperity, real or false—luxurious living, shown in the increased imports of food: our means have thus been exhausted, or diverted from productive occupations to be invested in works which do not produce any present return; our stocks of raw materials are exhausted, our manufactures have been starved, and our exportable goods fall short: gold therefore must be the equivalent for what we import; until retrenchment and a more wholesome industry have once more suf- fered our substance to accumulate, and supplied us with goods in return fur those which we draw from other countries. Greater stringency, therefore, not "relaxation," is the thing needed.
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