The Express.
London, England, 1864-10-10 00:00:00

THE EXPRESS, MONDAY EVENING, OCTOBER 10, 1564.

theory the notes that in this way went out of lie
Bank of England would as soon come beck.
Practice, however, does not always tally with
theory, and especially in financial matters. As
long as men are men they cannot reasonably be
expected to rise to the exalted level of the devotees
of the Bank Charter Act.

Although the decline in the Bank twelve has
for the moment unsettled the public mind, it may
safely be anticipated that the disturbance will not
last long. For some time past we have gone
through so many alternatives of excitement and
depression that • confident hope may be enter-
tained that the mercantile world has become in
some degree prepared for these constant fluctua-
tions. At the same tune it must be admitted that
the position of affairs is a critical one. In the pre-
sent period of tension one or two really important
failures might bring about the moat disas-
trous result.s to the community generally. Money
at 9, perhaps 10 per cent., is sure of itself to
engender such a feeling of uneasiness that • very
slight impulse may convert it into positive panic.l
The alarm may be unreasonable enough, and in
fact, should it happen, will be proved so day by
day. As everybody, however, knows perfectly
well, it is as idle to preach to people overcome
with fright as to speak to the winds. Ar-
gumenta may go for nothing, but facts may pre-
vent the ill. There is really no substantial ground
for apprehension. Notwithstanding the vague
declamation about the new financial companies,
there seems no adequate reason to believe that
they have engaged any appreciable portion of the
national capital in foreign and unproductive enter
prises. Again, the capital embarked in foreign
or colonial banks has not come near the
sums which for years past have been an-
nually taken from us for foreign loans. Only
two years ago about 20 millions were absorbed
in these operations, and yet we heard noth'ng
then of excessive engagements, and so ford., but
on the other hand received congratulations for
prudently taking such eligible investments.
As far as can be judged, trade is sound,
and such failures as have taken place are due
to bad trading, want of capital, or other ordi-
nary causes, and have in no degree been •tta:-
butable to the pressure of the times. A disaster
such as the stoppage of the Leeds Banking Com-
pany was sure to occur sooner or later, and in fact
might have taken place as easily when the money
market was in its ordinary state as at the present
moment. With trade generally sound, and the
nation steadily prospering, it seems singular enough
that the fact of 1,200,0001. additional notes being
in circulation should be considered such an ad-
verse feature. As long, however, as our currency
stands upon its present basis we must submit to
these artificial disturbances, unwarranted though
they be by • rational view of the actual facts.

ebt Court.

BALMORAL, Ocr. 7.

The Queen, accompanied by Princess Helena
sod Priam Arthur, sod attended by the Hon. Emma Las-
mils, drove to Loch Collator yesterday.

Visooont and Viscountess Palmerston have arrived M
Cumbridp-bouse from Broadloads.
Despatches were received at the Colonial-aloe on &tau
day from the Governors of Gibnitar and Ceylon. De-
spatches were mat to the Governors of the I. clkland Islands
and Canada.

His Excellency the Bavarian Minister and
Baronage do Oetto bars bees placed in mourning by the
death of Ilm. Burrows, mother of the beronees, which
occurred on Saturday last ►t the Bavarian Legation in Hill-
. reet, Berkeleyequare. The rumble dammed was in
bee 95th year.

The Duke and Duchess of Athole are expected
to arrive in town this evening from Portsmouth, when the
duke and duchess have arrived in her Majesty's troop
steamer Urgent, from Curia. On Saturday evening a
telegram from Falmouth announced the safe mind of the
ship in the Channel.

The Ea! and Counteea of Warwick and family
arrived on Saturday at their house in the Stable-yard, St.
James's, from Bingham Villa, Richmond.
The Earl Russell was in attendance at the
Foreign-ofiloe, am Saturday, sad saw hie Etoellesey the
Peruvian Minister and other members of the corps diplo-
atatlque.

The Earl and Countess of Cardigan have arrived
at Newmarket from Dome Park, where they have been re-
ceiving a select circle during the hat fortnight.
Lord Houghton has returned from the Continent
and has left town for Fryaton Hall, Yorkshire.

The Hon. Robert and Mrs. Lawley have left
Thomas's Hotel, Berke'opaquely, for Newmarket.

The Right Hon. the Chancellor of the Exchequer
has joined Mn. Gladstone and family at Halyards. Castle,
Flietsbire, from atteedaime on the Queen at BelasoraL

Lord Dufferin will (says the Observer) probably
succeed Lord Wodahoole u Under Secretary of State for
India. 'though no acttml change has taken place, it is
likely that Mr. Wood. who is attached to the suite of the
Prime of Wales, will succeed Mr. Waldegrave Leal* Kr.,
as Private Secretary to Bir George Grey.

The little difficulty between the Marquis of
Donepll and the freemasons has been settled. The Grand
Locige of Ireland has received oommunications from the
sable marquis containing assurances, given' in the frankest
manner, that in the observations which he made on the
occasion of his installation at BaNist as Provincial Grand
Master he had no intention whatever of infringing a funds.
mental rule of masonry, and enslaving him sincere regret
for having done so. The amen* has been offered by his
lordship in terms so unreserved and emphatic that the
Grind Lodge have accepted it in a generous spirit, and dis-
missed the subject. They have deemed it right, however,
to address an admonition to the masonic body to avoid any
discussion calculated to produce disunion in assemblies of
Preemie:ea, and also impressing upon the brethren gene-
rally the neeensity of excluding all persons sot belonging to
the order from meetings convened to carry out the business
of this ancient institution.

The Rev. H. Hulest, who during the past three
years has occupied the office of principal chaplain to the
forces at Aldershott, hu beau tr►nsferred to Hounalow, to
succeed the Rev. Mr. Hodges, appointed to the priocipl
chaplaincy of Aldershott.

PROROGATION or PARLIAMLNT.—The Lord Chan-
cellor sad the commiasioners who will be appointed by her
Yeasty assemble in the House of lards on Thursday next,
the 13th inst, for the purpose of proroguing the Impend
Parl''iment until Friday, the 11th of November. There
seems to be misapprehension in the pub'ie mind, and
erroneous eaten sots bare appeared in reference to the
duration of the present parliament It was "begun sad
holden on the 21st of May, 1859," sod will sot legally
expire until the close of next year. The last wee the
" sixth " session, and as parliament is sepleanial, "gene,"
cannot be holden. Aocordiog to the usual practice, the
diseoluidon will take place next sprior, sod the new puFa-
rreut aseemble in November following for a short time, and
then adjourn to February o- March for the transaction of
general buainess. —Observer.

GRA-ND BALL TO THE OFFICERS or COLCHESTIR
GARRISON.--Go Friday evening a ball on a handsome and
extenaive ma's was given by the gentry of Colchester and
the musty of Eileen to the officers of Colchester garrison,
in return for a 'imae complimentary entertainment given
by the gallant officers a year aims. The stewards included
the high sheriff of Shot:musty, the mayor of Colcheete•, the
high steward (Mr. .1. (kudos Rabow), Major.Genend Sir
Thanes Seaton, K.C. 8.. Sir Claude de Creapigny, Bart.,
Sir Thomas Birch Western. Bart., Mr. C. Do erne, M.P.,
Mr. T. J. Miller, M.P.. Mr. P. 0. Papillon, M.P., Mr.
T. Sutton Western, M.P.. kc. Aatoept the company.
ooropriaing upwards of 300 ladies and gentlemen, Colossi
Dickson, with the allows of the 16th Lancers, and the
infantry ofllcien of the garrison, were amapienous in their
rich 'varlet uniforms.

TeX firtitttimtrAtioir OF SOUTHAMPTON. --Tbere
me now Ere candidates for the representation of Sonthanip.
ton et the next general shelties. via, Alderman Rees and
Mr. Segment. the sitting menther. for the lomough, eastYeses. Mesas. Russell Gamey, G. Madan (LP. foe Henan), sod
T. M. Malay.

lATEt3T INTELLIGEI,IOE.
AMERICA.

GENERAL SHERIDAN'S PURSUIT OF

GENERAL EARLY.

The Royal Mail steamer Arabia arrived at
Queenstown at 6 a.m. yesterday with 56passengers,
18,280 dola. in specie. She landed 84 sacks of
mails, 44 paseengers, and proceeded at 6.15 a.m.
All well. The Arabia was detained 15 hours off
Halifax in a fog. She brings New York dates to
the 29th ult., and telegraphic news, vill Cape Race,
to the let inst.

On the 26th ult. the Federal Secretary of War
published the following information relating to the
pursuit of General Early by Sheridan :

SZCILVTART STANTON TO °MURAL DII.
War DaPartrama, Waahinatoo, D.C.,
Sept. 26-10.30 am.

Major-General Dix,
Despatches from General Sheridan up to 11 o'clock on
Saturday night, dated six miles south of New Market,
ban been received. He had driven the enemy from
Yeast Jackson, without being able to bring on an en-
sogagement. The enemy were moving rapidly, and
he had no cavalry present to bold them. General
Torbert bad attacked Wickham's force at Luray,
and captured a number of prisoners. General Sheridan
found rebel hospitals is all the towns from Win-
chester to New Market, and was 80 miles from Martins-
burg. Twenty pieties of artillery were captured at Fiahee's
Hill, together with 1,1110 prisoners, a large amount of ammo-
Mike, caimans, limbers, &c., and a large quantity of in.
trenchiog tools, small arms, and dans. No list
of the captured esakariel hem yet been received.
The small towns through the valley have a great many
lof the rebel wounded. General Stevenson reports the
arrival at Harper's Party of a train of our wounded,
twenty captured guns, and eighty additional captured
offloers. Brer.kinridge has gone to Mite command of the
rebel department of the south-west. Despatches received
this morning from General Sherman's command state that
Hood apposes to be moving townie the Alabama line.
A strong force of rebel raiders were reported to be
operating against Slierman's communicationa, and had
captured Athens, Alabama. Vigorous exertions werr
being made to overtake and destroy this force. Jeff.
Davis is reported to be at Macon. Reports have also been
received from Major General C►nby. General Steele had
been 'Measly reinforced and token the offensive. Despatches
from General Grant, dated at 10 o'clock last night, report
no military operations. The above comprises the substance
of military information proper for publication received to
the pretest date by this department.
Evens M. STAIROST. Secretary of War.

The New York Herald publishes accounts from its
special correspondents of the battle on the 22nd.
One of these sketches is u follows :
Ilead-quartere, in the Field, Sept. 24, 1864.

From the defeat at Winchester Early withdrew hie forms
to Fisher's Hill, leavt.g mat of his wounded in the battle
of the 19th and those which had accumulated from the
various combats of Crook end Averill in our hands. At
Fisher's Hill he rested his right upon the Musanuttec
Mountain, and his left upon North Mountain, having his
front, about three miles in length, covered by strong
natural pd artificial deems. Hie right, which was about
one mile in advance of his left, wee considered almost im•
pregnable.
On the 21st an importmt position in front of the enemy's
centre was gained by Weight's corps. On the 22nd the main
attack was begun by • strong demonstration by Emory's
troops on the miemy's right. About noon, or a little later,
Riekettem division of the 6th Corps advanced and secured
some important heights in front of the centre, while
Averill's division of cavalry attacked and drove the enemy
at • gallop from his advanced position on hie left one mile
back into his main works, and held him there, while
Crook'. corps, which had been concealed during
the day, was transferred in the rear of Averffl's
division to the enemy's extreme left. At 5 in the
afternoon Crook and Averill stormed and carried the
works of the enemy, the cavalry leaping the barriers erected
by the enemy, capturing two battle flags, four guns, and
over one hundred prisoners. While Crook swept towards
the enemy's centre, the 6th Corps attacked, followed by
the 19th, while Averill sent along the base of the North
Mountain outward seven miles, captarod 175 cavalry hones,
4 caisson., 14 waggons, 8 ambulances, and • number
of fugitives. The enemy, having probably learned of the
movement upon his right and rear, had commenced leaving
this position some two hours before oar attack. His
departure was so hastened that he was compelled to
leave 16 guns and over 1.000 prisoners in our hands.
Yesterday morning the pursuit of the enemy was promptly
continued by oar cavalry, and he was found in position at
Mount Jackson, 25 miles south of Fisher's Hill, where he
seems disposed to offer a stubborn resistance to our further
advance. Yesterday morning Early's rear was overtaken
near Hawkins'•bridge by General Averill, with a cavalry
division and the brigade of General Devine, and driven to the
town of Mount Jackson, where his entire force was found in
pommeling. Major faddy, commanding two batulioes, was
captured, with several privates. Our cavalry pressed the
enemy with great violence and success, until be brought an
infantry division with artillery, and they held them in check,
until the arrival of the Sixth corps, which found them in the
same position, offering • stubborn resistance to in advance.

Winchester is described as " one vast hospitaL
There cannot be less than 5,000 wounded in this
town at the present time. Every hotel and vacant
store and house is full and overflowing, and the
groans of suffering humanity are really awful."
The Boston Journal says :—" The demolition of
Early's army in the Shenandoah Valley seems to
be thoroughly accomplished. The route to Lynch-
burg lies open to Sheridan, unless Lee transfers
thither strong reintorcements, which would cer-
tainly give Grant all the occasion he could desire
for a decisive dash at the remainder of Lee's army.
But the new situation is so broad and novel that it
is impossible to say what events are next to rise.
It is manifest, however, that the present phase of
affairs comes in the Nikes, of time, having been
foreseen by the lieutenant-general. For instance,
while Sheridan has been executing his series of
victories, General Burbridge has been marching out
of Kentucky through Pound Gap, headed east-
ward, and a forward movement has been going on
from Knoxville. These things point to a junction
with Sheridan in the neighbourhood of Lynchburg,
the putting of the Virginia and Tennessee Railroad
in order, and possibly rapid transfer by that route,
if necessary, of a portion of Sherman's army. The
importance of such a combination will be seen at
a glance."

CONFEDERATE SUCCESSES IN ALABAMA.
The official reports from General Sherman's de-
partment state that Confederate General Hood was
moving towards the Alabama line, and that a large
force of the rebels made an attack upon Athens,
Alabama. They were commanded by General
Forrest, 8,000 strong, with 10 guns. After a fight
of two hours, the Federal troops, under Colonels
Jamison and Campbell, were compelled to sur-
render. Several buildings ware burned, and a de-
tachment of Union troops, sent as a reinforcement
from Deatur, werecaptured by the enemy. The Con-
federates in this district &recommended by Generals
Forrest, Roddy, and Wheeler, the latter of whom is
said to have gone to join General Hood. At last ac-
counts Forrest was moving on Pulaski, and heavy
firing was heard in the direction of Sulphur Branch.
Athens, which Forrest is reported to have cap-
tured, and Pulaski, against which he was moving,
are not on Sherman's line of communication, but
are outposts on the Tennessee and Alabama road,
southwest of Nashville, which is used only to
supply these places. The Chattanooga road, over
which Sherman receives his supplies, runs in a
south-easterly direction from Nashville, passing

through Tallahoma, and intersecting the Memphis
and Chattanooga road at Stevenson.

RICHMOND.

The latest Richmond papers admit a defeat in
the valley, and give their loss at 2,500, about 500
of whom were prisoners. Rhodes' division lost
1,000 men. They state the Union loss at 8,000 to
8,000. Generals Rhodet, and Godwin were killed,
and General Fits Lee and Colonel Patten wounded.
General York lost an arm.

To the question, "Are the rebels shut up in
Richmond 7" the New York Herold replies, " Most
emphatically they are. Not by the mere fact that
Grant lies on one of its railroads and that Sheridan
is likely to seize the other, but by the greater fact
that through our successes everywhere there is no
Southern Confederacy outside of that city. It is
the universal recognition of oven Southern men that
the loos of Richmond is the less of the cause. This
fact shuts them up in Richmond, and there
they must finally fight it out. To surrender
and to leave that city is the same. Is Richmond in
danger I Ask those Richmond editors who de-
nounce the Georgians for their disposition to leave
the fight after having dragged Virginia into it.
Ask Early's fugitives flying for their lives from the
terrible pursuit of Sheridan. And let Davis ask
Lee, wearily watching a line forty miles in length
with 40,000 men. He can tell him that there never
was a city in such danger since the salvation of
Sodom depended upon whether or no there were
ten Jews in it."

INVASION OF MISSOURI BY THE CON-
FEDERATES.

The news from the south-west confirms the re-
port^ that the Confederate Generals Price, Kirby
Smith, and Shelby are making determined inroads
into Missouri. Calls to arms of the citizens of
Missouri bad been issued by Generals Roseman.
and Pike. Price is said to have 30,000 men, and
Smith, with 10,000, is to join him in the central
portion of the state.

CIOXIOROIAL INTFIXIGENCE.

NEW YORK., Elin. 27, I'vzosa.

Money easy. Gl* declined yesterday under •
panic to 185, but rallied this afternoon to 198}. In
consequence of large speculative sales stocks de-
clined from 3to 10 per cent, but recovered this
afternoon to the following quotations :—New York
Centrals, 116} ; Illinois, 1191 ; Erie, 944 ; United
States 6.20 Bonds, 108 f.

NEW YORK, 13m. 29, Evsaroo.

Money easy. Violent fluctuations of gold have
taken place since Monday, between 183 and 204, in
consequence of unfavourable rumours. The final
quotation this afternoon was 196 f. Large specula-
tire sales have taken place in stocks. New York
Centrals, 117 ; Illinois, 119 ; Erie, 961 ; United
States 5-20 Bonds, lON. Cotton dulL Middling
Upland, 125. Flour and wheat heavy. Corn dull.
Provisions tending downwards. Coffee inactive.
Sugar steady. Molasses heavy. Petroleum : crudes
39 ; refined, 65 to 671.

NEW YORK, Om 1,

Grant reports that Warren yesterday carried the
enemy's line on the right, and was following up his
SWOOSH.

General Meele has moved from the left, and
carried the enemy's lines near Poplar Grove.
Butler has repulsed an attack on his line.
The operations on the north aide of the James
River are encomia