The Press.
London, England, 1857-10-03 00:00:00

THE PRESS, OCTOBER 3, 1857.

he thought, been one of " justice and mercy," and
he hoped that it would be continued on the same
equitable principles :
It is in vain to tell me that this mutiny or rebellion has
been excited by the propagation of Christianity. We could
not hold that country—we could hold no country, as
Christian men—unless we attempted to Christianise the
people. To say that that was the cause is utterly untenable
and futile. We are bound to Christianise and civilise the
people if we can, and leave the results in the hands of an
all•wise Providence.

Mr. P. H. Howard, on the same subject, said :
I trust that when this hurricane blows over the mind of
Parliament will be devoted to the subject of our Indian
Government, and I quite. agree with Mr. Hodgson that too
much indifference has been displayed upon these questions
in Parliament. Except there were some strong reason, it
is with the utmost difficulty that " a house " can be got
together on any question connected with our colonial em-
pire. I trust that the present state of affairs in the East
will be a warning to Parliament that when they see notice
on the books of the house relating to India they will be
prompt and ready to give their attendance—even though
they should not be called upon to do so by the urgent
claims of anarchy and rebellion.

973

from Calcutta. From the tone taken by a part of
the press it might be imagined we are near the end
of the rebellion, and that the people of England will
escape without paying the bill for putting it down.
There is certainly nothing in the news just received
nor in the prospects of the fature to justify such an
exuberance of hope ; out it answers the purpose for
the time, and that is sufficient for a Government and
its supporters who have all along failed to appreciate
the magnitude of the insurrection.
Consols have slightly improved during the week.
At one time they stood at 00, but there were
numerous orders to buy at that price, and they con-
sequently rallied. The effect of the Calcutta advices
was to cause an advance of only one-eighth, namely,
from 901 to 901, a proof that the moneyed interests
have no great confidence in the vaticinations of the
Government organs with respect to Indian affairs.
Yesterday the closing price was 90i to 1, and this
mottling they opened the same ; but some calls for
money and for the next account (Nov. 10) caused a
reaction to 001 to a, from which there was no
recovery during the rest of the day.
Foreign Stocks have generally shown some degree
of firmness, but no advance of importance has been
established.

_
Railway Shares since the settlement, which was
brought to a close on Wednesday, have been very
buoyant. In most of the heavy stocks, particularly
Midlands, a decided advance has taken place. The
rise, however, has been almost general, and the tone
of the market is still good and firm, though there
was rather a strong reaction to-day in some of the
heavier stocks. _ _ .

Very few transactions are reported in Joint stock
Banking, Mining, or Miscellaneous Shares.
During the month of September the range of
fluctuation in Consols was one and a quarter per
cent., terminating with a decline of five•eighths, in
addition to that of one and a half per cent. which
occurred in August. The Bank bullion experienced
a further reduction of 650,01,01., and that in the Bank
of France an increase of 1'20,000/.
The Railway calls due in October amount to
:285 ,850 1.
The Board of Trade Returns for August show an
increase in the value of our exports, compared with
those in the corresponding month of 1856, of
885,5131. The Indian trade has undergone the
greatest diminution, principally in the shipments of
cotton ; still, there is an increase as compared with
August, 1856. It must be observed, however, that
the effects of the great disturbance now raging in
Bengal upon our trade must be progressive, and that
we shall feel them much more hereafter than we do
at present. The total exports for the first eight
months of the year amount to the value of
84,666,7181., being 0,976,7841., or nearly twelve per
cent. more than in 1856.
The Hull Bank of Messrs. Harrison and Watson
has failed, and several commercial concerns with
which it was connected have fallen with it. The
liabilities of the hank are 400,0001., and the assets
225,0001. Several failures aro also reported in Liver-
pool, but none of them of much consequence.
Notice has been given in the Gazette that the sum
of 77,7771., being one-fourth of the surplus revenue
for the year ending June 30, would be applied towards
the reduction of the National Debt. the Govern-
ment broker has consequently purchased Exchequer
Bills with the amount; but his operations have not
materially improved those securities, which are at a
di-count of from Os. to ss.

The Revenue Returns for the quarter and year
ending September 30 were published yesterday.
Attempts have been made, apparently upon official
inspiration, to represent them as favourable, and to
some extent they are, in respect to a portion of the
estimated receipts. But they are essentially un-
favourable, for they show a falling off in the main
sources of income to the extent of more than
880,0001. upon the quarter, and about 170,0001. upon
the year ; and a judicious silence has been main-
tained with respect to current expenditure. It must
be borne in mind that the falling off in the property
tax next quarter must be very large, as it will be col-
lected at the reduced rate of 7d. The diminution in
this item, we estimate, will be no less than
3,500,0001. Under existing circumstances this fact
does not suggest very pleasant considerations of
what may be done with the income tax in the next
budget.
The Trade Reports of the week are not worse than
for some time past ; but in some districts complaints
are made of the effects produced by the suspension of
orders from the East.
BRITISH PURRS.— Closing Priest.
OFFICIAL QUOTATIONS.

ilrfond.

3 per Clent.Consols
Ditto or Account
3 per Cer.ts Reduced
9 per Cents
Long Annuities
Flank Stock 7 per Cent
New 21 per Cent Annuit
Exch. Bills, Yid,
India Bonde,(1,0001.)

891
20i i

Tuesd. Wed. Thurs. ,Friday

SO} 90i IrOt
90i t 90f al 90i

- I 204

219
10d lad I I9d'6 9 54
204 ) 123 25' 184