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Leader (1850-1860), 14th November 1857, Edition 1 of 2, Page unpag., Untitled Article

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      Untitled Article

      v ^ ipM ^ a ^ J § tt & & e x . _ A fOIITICAL AND LITERARY REVIEW .

      Untitled Article

      MORE head lias been made against the revolt in India tlian against the revolt in tlie Money Market ; for the same weelc which announces the victory of Wilson at Delhi , and the arrival of Have-, lock at Lucknow , announces the surrender of Pajomekston and Lewis to the Embarrassment interest . It must loo confessed , however , that the Sepoys have been obliged to surrender more than Ministers have' surrendered . The accounts from India are checkered and ' . painful , btifc glorious . Clouded as they are with loss and death ou our side , they describe magnificent behaviour on the part of tlie Generals , officers , and men . The loss is so tremendous that it must have been foreseen ; the officers who led their men into "the intricate positions of Delhi or of LucTcnow , must have known that the advance was casting the die of life or death for one in three of ^ hose that went forward ; and the men must have known it , y « t they rushed on to the attack with the same iinpctus as if they were marchiug to certain victory , for without that brave devotion it is impossible that a handful of men could have conquered a . large army and taken from the hands of that army a great straggling city . Dellii was in our possession oii the 20 th of September , and on the 21 st the King , who had fled , was brought back with his chief wife . The monarch himself is not one of the least strange phenomena of the whole revolt : he is a man ninety years of age , wlio has lived almost to the end of a century in order to see a dream of the Mogul Empire revived , himself descending from a pageant throne to be a criminal in the hands of police ; while his sons , who were gentlemen at case , have been shot like vermin by their captors . Even the pious mind of the fallen Mogul must begin to doubt the power of f the great mother Devcc' From Delhi the British , saddened by the loss of Nicholson , at once advanced towards Agra , and they arc evidently following up the defeated mutineers so as completely to break their power . At Lmcknov , the arrival of the British must have been , one of tlie most striking events that have ever neon witnessed in any theatre of war . Wo now | eam more nearly the position of the British . They had hastily fortified tlio Residency , and maintained themselves against their besiegers and the people in the remainder -of the town . Their provisions had fallen short , and they had replenished their stores by sorties . With a machinery that would have been i

      beforehand pronounced utterly inadequate for the purpose 3 they have sustained a long siege . They had within the last few days seen the entrenchments and the mines come up to the very walls ; they were almost awaiting the explosion of the first mine , when HaveI / OCk's force came up . But the relief of the Residency was not the complete reduction of Lucknow : after hard fighting , in which . Neilx fell , the position of the relievers became one of danger , and the despatches leave Ha . "Velock unable to bring away the garrison , and surrounded by the enemy-It is evident that the unsettled state of the country , especially in the Bombay presidency , had actually iucreased . The frontiers of Scinde are said to be in an uneasy condition , and two Sepoys had been blown from guns at'Bombay for participation in tlie conspiracy . More massacres , then , would have happened , but for the report of the success at Delhi . This had been accomplished before the arrival of the large forces sent out from '¦ England ;¦ which will be welcome . Even after completing the relief of Lucknow , the new forces will be required to do the arduous work of rooting- out the mutineers and their accomplices wherever they can be found , and of establishing a permanent force for the maintenance of order until the whole of our possessions in India can be reduced to perfect quiet . The concession of the Government oa the subject of the Bank Charter Act was not mn . de without a call for it , though it docs not appear to have been dem anded in what would usually be called a regular m aimer . On Tuesday last the Bank of England again raised its discount , this time to 10 per cent ., without diminishing the pressure of demands for accommodation . The event was followed by some occurrences of which it was not altogether the cause ; for we must remember that the failures in the United States arc the largest and the most immediate cause of the difficulty here . This is proved by the course of the failwo , which began amongst houses connected witli America , and was transmitted to joint-stock banks . In their cases , no doubt , the difficulty was complicated with their share in speculation ; a spcoics of commerce into which banks should Mover enter , but into which the banks that have failed had gone to enormous amounts . Amongst tlve list of firms of banking or commercial , joint-stock or private , which have frightened tlie world by their suspension , have been the Western Bank of Scotland , Messrs . Djennisxoun and Co ., the City of Glasgow Bank ,

      Messrs . Sanderson , Sandemann , and Co ., besides many other houses more or less connected with America , and other banks which have been under pressure without actually suspending . Some persons in Glasgow have been holding a nieeting , and resolved to appoint a deputation in order to demand from Xord Palmehston a relaxation of the Bank Acts of 1844 and ' 5 , one being passed in the latter year for Scotland as well as the Act for England . The deputation , however , did not anticipate sufficient- support ' or success to undertake the journey ; and although distress had spread to a great extent in the commercial parts of the country , there was a marked absence of any general demand for suspension of the law . The public , therefore , was in a condition which is called ' -astounded , ' when , on Thursday evening , appeared the letter of Lord Pamieiiston and Sir George Cobnewam , Lewis to the Governor and Deputy-Governor of the Bank of England , intimating that if , in consideration of the serious consequences ensuing from the failure of certain banks and firms , theDirectors of the Bank should think it necessary and desirable to issue an increased amount of bank-notes in excess of the limits of their circulation prescribed by the Act of 1844 , the Government would be prepared to propose to Parliament , upon its meeting , a bill of indemnity for any excess so issued j the rate- of discount not to be lowered , and the directors to exercise great discretion and prudence . " Her Majesty ' s Government , " said the note , " are fully impressed with the importance of maintaining the letter of the law , even in a time of considerable mercantile difficulty , but they believe that , for the removal of apprehensions which have checked the course of monetary transactions , such a measure as is now contemplated lias become necessary . " The relaxation , therefore , is granted in the most limited form , with an avowed objection by those who grant it . The Times states that the Directors of the Bank of England have not , as they did in 18 d 7 , cither asked ov recommended any such measure . It , appears to have been urged upon Government by individuals . At the same time , it is obvious that if some few houses of great magnitude were to declare that they could not continue business without an exceptional law , the ' refusal would have cast great responsibility upon tlicJBwSJuljijWS ^ v Government . It is notorious that ^ y ^ ftff ^^^ yyj ^ classes will be subjected to the hard ^ p ^ o £ tt ^ y ^ : ' j ^ p ' time throughout a great parl ; of the ffl >} $ wCufflOiJj £ /« districts ; and although the causes of ^ a' ^ ijar ^^ v ~ i will in a very slight degree be affected 1 ^ tJ ( w ^ WBam ^| i |^ measure , they would have always bow wontfraffi ^^ ^ IllSP

      Untitled Article

      TQL . YIII . yo . 39 ^ . ] SATURDAY , NOVEMBER 14 * , 1857 . Price | F 22 ^!!? ± * JBKS ^'

      Untitled Article

      REVIEW OF THE WEEK- i-ac . e The Indian Revolt 1083 Sanitary Matters 1084 Accidents and Sudden Deaths ......... 10 S 5 The Accident at the Attempted Launch ....... 1085 Ireland 3085 America 3086 Continental Notes v . 30 SC State of Trade 3087 The Government and the Bank of England 1088 Obituary 1088

      Our Civilization 10 SS Gatherings fromtliel . awand . rolice Courts -.-1089 Naval and Military 1089 Miscellaneous 1090 Postscript ......... ^ ....................... 1091 PUBLIC AFFAIRSThe Monetary Crisis 1091 Indian Military Prospects 1093 Extension of Protestantism 1093 The Quietus of Reform ............... 1093 JLord JPaimerston in . Armour ......... 1093

      • How not to do it' 1094 The Cityiultags .. 1094 Tlie Health of London 1095 An Indiscreet Apologist 1095 LITERATURESmnmary .... 1096 Dr . Livingstone ' s Travels ........ 1096 A Hundred Yoars Ago .... 1097 A Treatise on Angling .................. 1098 Mauleverer's Divorce ....... 1099 . The Britons of Cambria . 1099 A Winter Offering ....... 1100 New Editions 1100

      PORTFOLIOTho Woodspring Papers ,..,.., 1100 THE ARTSThe Haymarkefc Theatre . — 'An Unequal Match ' ........................ 1101 Opera Buffa . —St . James ' s Theatre 1101 The Gazette 1102 COMMERCIAL AFFAIRSCity Intelligence , Markets . &c ..... 1102

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      Untitled Article

      _ Tne one Idea which History exhibits a 3 evermore develoDing itself into greater distinctness is the Idea of Humanity—the noble enoeavoux to-throw do wu all the barriers erected "between men by prejudice and one-sided views ; and , by setting aside fclie distinctions ot Keugion ., Country , and Colour , to treat the whole Human race as one brotherhood , having one great object—the free development of our spiritual nature . "—Humboldt ' s Cosmos . . ' ¦ , ' .. ..

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  • Citation
    • Leader (1850-1860), Nov. 14, 1857, page unpag., in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2217/page/1/