The Daily Times.
Liverpool, Merseyside, England, 1861-01-28 00:00:00

IfIGHOVATERI -THIS DAY; AT 11.14ER1OOL:
lAtgitt,
MORNING • 811. Gm.
EVENING 34n.. '""'

pa 4 (into.

3":2I.NUARY; 28, 1861

NEWS OF 'plE DAY.

The Australasian, which arrived in the: river
yesterday afternoon, brings advices from New
York down to the 16th instant. A summary of
the principal news, which is of a very important
character, will be found in another column. The
critical situation of affairs in America 'continues
to increase in intensity: lYe hate diretted Par-
: ticillat attention tisbWhere to the great epeeeli of
Mr. Seward in the Senate, on the present perilous
condition of the affairs of the Union, but the
eloquent' Senator has left it an open question
whether he is to be regarded as an advocate of
the ,pOlicy. of conoiliation. or 'an adviser of the
botitte of
AcCording to a telegram from Marseilles, We
may expect to hear of the' Surrender of Gaeta in
d feri days; The co-operation of the fleet has
eeii Ve.fjr fire of the united
batteries is reported to have been attended with
prodigious effect: There is no foreign nays of
unusual, importance.
oigans of the, (loi-ernitietit
to prepare' the country for a .iiontititianed of
its present heavy expenditure, and they invite us to
be prepared (as if every ono was not already aware
of the fact) the Budget proving one of the princi-
pal absOrbirig ijueStiotis of the newsession of Parlia-
ment. ihe position tiiiikairs hi the United States,
we are alSo told, will necessarily engross Mali of
the attention of Parliament should .a civil war
ensue, of which there is now every probability.
The cotton crop would; of Course, be a failure ; and
one of the consequences would be, that hundreds
of thoitsancis of hands in the different , thine in
this cotitity add in Yorkshire 'Wald tie thrown out
of employment, from the dearth of the raw Mate-
rial; As to Refortn, nobody now believes that
any serious attempt will be made to carry any'
nteasnre of that kind bnt there will bo plenty '
of work for the GioVernment in the legal and
social departments.

The United Service Gazette of Saturday says,
in allusion to the new War-office Circular as to
the rifles of Volunteers to which we referred on
that day,—" We are further inforthed that in the
cases of corps the men of which have purchased
their own rifles, the order is equally imperative,
the GovernMent, howeVer, agreeing to pay the
cost price of the arms on their being delivered
up." The Circular, although bearing date the
7th instant, and addressed to lord-lieutenants of
counties, has only just been 'transmitted to the
various corps throughout the Kingdom.
The Globe says the address in the. House of
Commons, in reply to the speech from the throne,
will be seconded by Mr. Charles Paget, M.P. for
Nottingham. . . _

A prospectus has been issued of the India
Cotton Company, with a
.capital of £250,000, in
£lO shares. • The proposal is to establish agencies
in Guzerat to purchase cotton of the ryots direct,
and to use every endeavour to improve the pro-
cess of picking and cleaning, and promote the
introduction of the best machinery.
A north country shipowner writes to the
Times, and instancing the present extensive `•use
of jute as a substitute for Russian tow in conse-
quence of the Crimean war, infers that even with
the loss of the American cotton supply England
would never want raw material while she has
intelligent merchants and artisans, to select and
work such materials as are daily found when
really wanted.
At a banquet given at Northampton to Lieut.-
Colonel Lloyd Lindsay, as captain of the Over-
stone Mounted Rifle Corps, Lord Overstonespoke
at 'considerable length on the defence of the
country, and 'expressed the opinion that the evil
against which the volunteers had to guard was a
permanent and enduring danger; danger arising
from the altered condition and .eireumitatieeo;of.
the . would in 'general, and the position of this