The Express.
London, England, 1853-08-15 00:00:00

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LONDON. MONDAY, .AUGUST 15.

Tag continued, though slow, ries in the rate ot
interest for money—no bills being now discounted r'
a low rats than the Bank of England minimum,
Si per cant—with a probability of a further ries, Td reader who reel" the foreign intern-
s" 3 psi east being gins for
15„,y on
call, geooe from
.China in our impression of to-day,
creates apprehension that capital will be deficient, will not fail to remark, that the rebel army
credit become disorganised, tod prosperity be checked is =latently spoken of as the " Christian force."
and delayed. Thies ere serious consequences, but Although some of the intelligence is unfavourable to
not to be dreaded by those who mope auto varnish the character of the insurrection, there can be
of words and theories, and look at the facts as they no doubt that the rebellion is most formidable
arise. We ere in some meow, called on to allay, and has been almost uniformly successful. The
if ,g
known and stated that the rate of interest we can, unfounded apprehensions, for we have chance of success for the present dynasty is ex-
lon
pressed rather m the shape of hope than expectation.
would become higher, and we are neither surprised The defences at Canton, we are told, are not alto-
nor alarmed at the occurrence. gather neglected; but should the "Christian forma
There oro two leading mesa of a high rote of in. attack the place, the capture would be au easy one.
The Chinese themselves believe that if Peking
tweet which prevail at all times, and influence more
or less every transaction. The one is the profit to falls, the people of Canton—the executive
be made in business: the other, the nature of the included—will declare in favour of the new
dynasty. The insurgents at Amoy, consisting of
security offered for loans. The former is the more
important element for determining the general rate ; the members of the so called "Small Knife "
the latter is the one we more frequently bear of. A Society appear
of revolutionists, who, says the Oyer-
Implying that bills which are not the best must pay appear to have moved independently of the
certain rate of interest is spoken of for the best bills, larger
land /Wend of China, must in future be called the
a higher rate. The first question asked is Christian army, and " still," says the sane paper,
"their conduct and promises are of seal ammo&
who is tho acceptor, and who are the en-
able character, that we should feel great regret at
doreers of a bill ? and as they are men of
seeing them displaced by the Tartars." At the Noe
honour, character, and substance, the bill is con-
sidered one of the best or second best, or bad, and time it is noticeable that although the movement
at Amoy is independent, its leaders appear to wish
is rejected. Every one knows that in proportion u
the security is considered perfect, the interest will be to connect themselves with the general cause by
their declaration that they are fighting in favour a
the lowest possible in accordance with the market
th e old Ming dynasty. The chief of the insurgents
rate. We an however state on excellent authority
that there was a time when the balk of all the in
.possession of Amoy issues manifestoes es gene-
mercantile bills offered for discount were more minium° in the army of the restored dynasty of
genuine, mare completely the offspring of legitimate /hag.
and well-founded business, or more secure than As far, then, as we are able to judge from the
now. It is not therefore from any doubt of the seta- statements at present before us, there is great
Mies that the rate of interest has risen, and we reason to expect, and we may say hope, that the
must look for the explanation to the other cause. issue of the contest now going on will be the opening
When a farmer has a fertile and fresh soil, near of China to the European world. It is impossible to
a large market—such, in fact, as has been brought overrate the wonderful significance of these words,
by rails and other improvements in carriage close to the opening of China. The greatest, the most oono-
much of our imperfectly tilled land—the price at pact, the most intelligent, the most enterprising, the
which he can sell his crops leaves him so large a most industrious, and the most populous nation of
k profit that he can afford to pay a high rate of inte. the East, almost isolated from the mo-
rest for loans to extend and improve his cultivation. dery world of civilisation by physical and
Putting aside taxes and all established charges spiritual barriers, surmounted only at open-
on land which am not augmented, the present ings infinitesimally small, will now make a
Pnallaof agricultural Produce attain" give su part of the vast union of civilisation which hie me