On this page
-
Text (2)
-
Untitled Article
-
Untitled Article
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
-
-
Transcript
-
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
Untitled Article
srcthin the last few weeks , and the sufficiently tan gible measure of the change is" given in ' the enhancement of our own Bank discount to six per cent ., -with an intimation that the rate may go up still higher . Some sanguine persons , indeed , Lave been anticipating that there "wauH be a reaction downwards ., and that money would be
comparatively easy to obtain ; but no calculation could be more fallacious . The explanation of the step taken by the Bank of England is veirpartelligible . in . > tlic United States some objectionable attempts to make certain stocks more easy of purchase by disparaging their credit and bringing down the prices , produced a panic a few week ' s since ; but on th « feels of this disturbance has come a real panic , with tlie suspension of payments in the Banks of Boston , Philadelphia , Baltimore , and other places , Tiie hope of purchasing railwa y stocks held by Englishmen , the high , price of cotton , and several other circtraistances , have excited speculation in the United States to a preposterous fever , and parties have entered into engagements on reckonings that have been entirely falsified ; they are unable to pay those whom they were to have paid -, those whom
they were to have paid are without means , and the whole business of commercial America is in confusion . "While many who owe money to P ersons on this side are not sending , it over ,, many to wlom we owe money are demanding payment , and accordingly it is calculated that about a million and a half will be sent over from . England to the "United States . At the same time large sums of money are going over to India , to pay for the
extraordinary expenditure there . At the same time , too , speculators on the continent of Europe have been increasing their applications in London , for an a . d-• vtance or a loan of money . Englishmen to whom money is due from Germany orFrauGe , not receiving their , remittances , are in their turn obliged to ask temporary assistance . Now there is no man who can pay , so largely for accommodation of this kind as the Englishman , ox give stick stout security ; hence , the raising of the Bank discount has the effect , not of withholding the money from Englishmen , but of limiting it to them ; while advancing- it also , on much better security than can be obtained from the other side of the Channel . Our interpretation of events is confirmed by the fact that the rate of discount has gone up again in the North of Europe much beyond its usual level . The Bank of Amsterdam has gone to 5 £ per cent ., and rfc would not surprise us to see it at 6 , or even higher , though that bank piques itself on an habitual moderation . The Bank of Prussia has also been
going up ; at Hamburg the rate has amounted to 7 £ . The most conspicuous exception at present is presented by the Bank of Franco , which remains at 5 £ ; but there are several reasons for this . The Government is anxious to keep up the appearance of prosperity in France , and the new administration of the Bank , acting in concurrence with the Emperor ' s Ministers , has thought it consistent with the
interests of the Bank to buy from England and other places , at large prices , supplies of gold in order to Continue paying its way , although it diffuses money at this lax . rate of discount . Influential persons connected with great capitalists and with some of the Empcroif's Ministers have been using consid erable sums of money to Icecp up the prices o { shares in the Credit Mobilicr and similar
instituturns , but this is a process which seems likely to bo brought to an end by the prcssnrc wliich ia exhibted in this country . Already the shares of the Credit Mobilict arc going down in the teeth of the efforts to keep them up . Under this pretence of ' ease' in Franco there has lurked real bankruptcy ; and we may look for a financial storm over the whole continent . Characteristically Enough , it is very probablo that the Austrian Government , which was to have turned over a new leaf
m January next , will , instead of showing that ' renovated vitaEtj , be obligecfcio confess that its annual deficit , accumulated io . 61 , 000 , 000 / . with no credit to fall back-upon , amounts to actual "bankruptcy . There ate very few histories of shipwreck that come up in .-terrible mfcerasst < to that o £ . dike Central Ameriba . Tliestruggle ; : faanrufly sustained , so long as there was Hie least lope , to keep the siliiciiig vessel afloat ; the cheerfedi endurance of the women ;
the uffeexr unselfishness of all—for why sflwmld we except five or six poor brutes among five hundred good and brave men ami women facing death ?—is a story for America to be proud of . There is hope , we are told , that the nobLe captain of the lost ' ship may ha # e been sa-v-ed , ami not a heart in . the civilized world but would leap with pleasure to hear of his safety . The ' passengers—mostly rough goldminers—standing quietly by , while the women and children were sent away in the boats , vividly recal to mind the loss of the Bixkenhead troop-ship , on the deck of ¦ which our brave soldiers stood as on
parade while the boats were devoted to their wives and children ; the parallel is awfully complete , for both ships went down beneath the men who had performed these acts of noble humanity and duty . In the wreck ' of the ' Transit , we see , as the fruit of this grand subordination , every soul on board preserved . Of the foundering of a Russian line-of-battle ship in the Baltic , wjth 826 souls onboard we know littlesave that Russian ships are sometimes almost incredibly rotten in tlieir timbers , and that Russian officers are sometimes landsmen . This subject of shipwreck is illustrated by the publication of the Board of Trade ' s Register of the wrecks that have taken place-on the coast , or in the seas of the British Isles . It gives a ' truly startling-aggregate of wrecks , and casualties for the past year—837 wrecks , 316 collisions , and a loss of 521-lives ; many of tliern . from preventable causes . ' " Unseaworthiness' is common ; and sailors have been punished for refusing to take ship , while we see hundreds of ships lost in fine weather , and a score going down in ' dead calm . '
The great tea-robben-y , which was discovered at the end of last week , awakens something more than suspicion of wide-spread trade-demoralization ; and the anxiety of some of the townspeople to disown the delinquent as a native of the place does nothing to lessen that suspicion . One John James Moore , a tea-merchant , having some time ago let part of his premises to the Customs authorities for a bonded store , lias by the use of a forged'key abstracted tcachests to the value of ten or twelve thousand
pounds sterling . His system was to place in lieu of the chests stolen , others covered with the original canvas , but filled with bricks , turf , and straw . It docs not ; yct appear how long he has been carrying ontlris daring operation ; but it is supposed for a year . It is coming to li ght that the affair was wellknown among a certain circle / long before it got wind ; nay , it is reported that some of his ' friends ' expostulated with him . for not keeping up appearances wittf the authorities , by taking some of his 'dummies' out of bond when duties , were falling and other liondcrs were naturally reducing their stocks . A considerable quantity of the stolen tea passed into the hands of Belfast merchants , and the rest into those of the traders in the neighbouring towns , in all cases , on Very advantageous terms to the buyer—with no questions asked . Moore had made his escape , and . the stock on his premises is found to be worth next to nothing ; showing that he liad prepared for all contingencies . " We hear of stories that the ' whole trade' is indignant , and of large sums of money offered as rewards for Ins apprehension . The second act of the Bravnall tragedy is over ; the coroner ' s jury have proved the son , James Hendijuson , gtiiky of his father ' s murder , and he is sent for trial . The case against the man , though p urel y ch'cumstantiftly is very strong . His motive for the acfc seems to stand clearly revealed ; while not a single fact sustains his story about robbers in the house on the night of the murder . Equally strong is the circumstantial evidence against the
man Brat ^ e , committed on the charge of murdering a woman in the Leigh Woods , near Bristol ; but ° tins case , the motive is not , so apparent , for the value of the property of the unfortunate woman appears too aniall to oiler such u terrible inducement to a man in Bijalk ' s position . Murders , indeed , are ruMicr a drug , and when wo read of oik ' like that at Kingaland , where a drunken husband cuts his wife's throat in a conjugal squabble we * vote it uninteresting . '
Untitled Article
.. ,, ... THE INDIAN REVOLT . Ma further news direct from India has been receive ducuig . the present w * ek ; but the papers , as uS litt * e beeu filled with letters from officers and Set m the various centres of rebellion , adding still IS detaUs of atrocity , disaster , and heroism . Some ? telh ^ ence , fro m the French- colony of Pondicherry s published m the Pans journal Le Pays , which SL ! tlmt , up , to August 30 th , all was quiet there Tim same authority states that , on that day , " ' stcnm transport Shanghai arrived at Bombay , comin- from Heng-Kong , with sis . hundred British soldiers oi > board . The Shanghai hadiaailed on the 23 rd of July and announced the approaching arrival of two other transports , which were to leave early in August " It is also stated in the Paris papers that— °
" The French . Government has received despatches from Ava , the capital of the Birman Empire , dated the 25 th of July . They announce that the Birman Government remains . a tranquil and even impassive spectator of the events which aue going forward in liritiwh India . The . distriots in Pegu last occupied by the British troops are garrisoned by merely a few Sepoys , and the towns of Rangoon , Bassy , and the cantonment of Tavo-Mys which were reduced to ashes the same day , are still a heap of ruins . " The news of General Haveloek ' s victory over the rebels on the 16 th of August , when he captured two guns without any loss on his side , is confirmed . It appears , however , that cholera has been making ravages among the- troops , who are exhausted by hard work . Lieutenant Campbell and many men of the 78 th Highlanders have died of it . The latest
accounts from Lucteaow are to the 14 th August , and report ' all well . ' Further subscriptions for the Indian sufferers have been collected , and meetings held , at Durham ( where the Bishop of Durham was the chief speaker ) , Devizes , Gosport , TruTo , Hanley , Wrexliam , Maidstone , Woodbridge , Ilarrogate , Ipswich , Scarborough , Aberdeen , Road and Woolverton ( Somersetshire ) , Fontypool , Brighton , Wolverhampton , Halifax , Bolton , Shipton , Penzance , Glasgow , Bideford , Wenlocfc , Gateshead , Honiton , Fahnouth , Warrington , North Shields , Ashburton , Bury St . Edmunds , Torquay , Edinburgh , &c . The Lord Mayor has received a telegraphic communication from Prince Vogorides , the Ivaiimilcan of Moldavia , of which the following is a translation . —
" I send you five hundred ducats ( about 235 L sterling ) in favour of the victims of the mutiny in India . This sum will be remitted to you by Messrs . Heine , Lemon , and Co ., of London . It is but a feeble testimony of ray deep sympathy with the English people , and my interest in everything whiclv affects your great nation . " The Rev . J . H . Clayton writes to the Times to contradict the reported death of Major-General Iteed , lately in command before Delhi , and to say that a letter received from his daughter at Ferozepore , dated August 13 th , states that the General had reached Simla , and had improved in health . Another correspondent of the Times says : —
" It will be satisfactory to the public to learn that a steamer conveying a detachment of the oth Fusiliers passed Grhuzeeporo on the 10 th of August , and reached Allahabad on the 17 th of that month . A letter dated from Allahabad , August 18 , written by an otlicer who accompanied the detachment , and despatched via Hunbay , has been received by hia friends . General Havelock will therefore havo possibly received an earlier reinforcement after his return to Cawnpore on the l . 'Uh of August than other accounts have led us to expect . " We read in a letter from Vienna : —
" According to the well-informed Pera correspondent of the Triestcr Zeitung , Lord Stratford lias informed the Porte that vast quantities of weapons are bought up by the ultra-Mahometan party in Turkey for the use of their fellow bolievers in India . The correspondent asserts that tlio substanco of the reply given by " ^ Grand Vizier to his Lordship was , that he could not possibly interfere with any private speculation which was prejudicial neither to the existence nor to the welfare of Turkey . " Wo proceed to give some extracts from private letters , under the headings of the respective districts . MEKKUT . The following is from the letter of an oilicor : — " No . 2 Bnrrack , Meenit . " I havo not even now received one letter . since tnc 10 th of May . Wliat has become of tliom 1 can t fay . This has grieved me very much . Situated as uoallaa , and have been , letters from England are of tenfold vaiu . rt bus been a hard tight , and hundreds havo been mmdcrod—men , women , and children ; at Caivniiorn « Futtohghur alone fully three hundred nnd lin . \! many more . Mothers murdered before tlieir ch' » »™ j find even babies hacked to piecCH on tlu-ir " 10 llie breaHts . The massacres there have been drwidfiil— " ' rible—more than any accounts I mny Iiavo H lv ° n > . , send you a butch of extracts from the Lahora U " '" !" J which , horrible us they nre , may givo yon «<"'" ' ' Hjlllri ' j tion in reading , as giving proof of the < 1 (' " ' ' . jlk . the puninhmontH wo nro inflicting and nIuiII i » ¦ Kevor since tbo beginning of the world hav « auc ) l
Untitled Article
962 _ ___^ THE' LSAtDii ; * . fNol 39 ^ , O **( 5 Sfeii 10 . 1857
-
-
Citation
-
Leader (1850-1860), Oct. 10, 1857, page 962, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2213/page/2/
-