The Express.
London, England, 1857-12-12 00:00:00

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LONDON. 84TURDA7,

TIN NMI from India ii better than the most san-
guine san have expected. On the 13th of October
Brigadier GIANT everts& Colonel CIPZATEILD and
seemed the coaamad of the edam eider that odloer,
which, 'numbed by Ourios hem, accented to
3,300 men. After beating the =any at Hanonj on
the 23rd, Guar and GILTATIUD reached CAI.IIpOER
ea the 26th, where they received a further weenies
to their numbers. Being now 6,000 strong they
crooned the Ganges on the 30th, and on the 3rd of
November reached Alumbegh, where they halted to
await the joining of the Commander-in-Chief. Sir
(OLIN Cis tee Lt., as we knew before, left Cal-
cutta on the 27th of October; be reached Caron-
pore on the 3rd or 4th of November, and crossed*,
Ganges on the thh, with 6,000 men (another di-
spatch Bays 7,000) of all arms, to advance epos
Luckoow. On the same day he telegraphs to Lord
Casitima, "All right at Lickiwir." Gen. Wtiottan
wee left in command of the reserve at Carrupore.
What numbers he had with him is not mentioned.
We know, however, that the Limper, mutineers,
who had crossed the Oenpe, and were threat-
ening the left flanks of the English detachments
advancing in summer= on Cawnpore, had been
driven from their position in advance of Fat-
tehpoee, after a severely contested action, in
which Colonel Poverty the allow in command of
the British, fell. After the action, a portion of the
naval brigade, which formed part of the force under
Colonel Pow found it expedient to fall back ca
Futtehpore ; bat the infantry pushed on and readied
Caernpore on the 2nd of November. It hes already
been mentioned that the enmare forest to the north.
west of Carropore had been dispersed by &Wks
GRANT'S column on its advance. The reesrve at
Cewnpore and its communication with Allahaberl
may therefore be regarded ea ware from any
serious attack. On the 12th or 13th of November
the British troop; et Alarabegh would amount to
uremia of 10,000 men, a fares to which it was im-
p:sale that the 30,000 native soldiers—most of
them the very indifferently disciplined troops of
the Oude -Zemindare—could oppose any effective
resistance. The f 41•08 under Sir COI IN CANT-
RELL would be nearly double the samier
of what was stated by Sir /ANN/ OrTlAll
to be necessary for the relief of the Raddeney. It
would be sutcient not only to effect this purpose,
but to keep permanent hold of Oak. The only
set-off against these 111.00ftite is the continuance of
disturbances in Malwa and Bandelcund ; and these
disturbances, the work of predatory tribes and
inconsiderable chiefs, will be suppressed as soon as
government is re-oesenisaL

Honour to whom hosier ie due. Sir Coux
CAMPBELL, u w expeetied by all who know him,
has " let no gram grow at his heels." We speak
not only of his own " double quick " march
to Cawnpore, but of the contagious influence of his
promptitude, which has enabled him, with very de-
fectire means of transport, to push on 6,600 men to
Cawnpore by the beginning of November. The
energy and promptitude of Sir Jour Lewarycx,
and the ulcers who have co-operated with him in
the west of India, had been equally admirable.
That immediately atter the WI of Delhi such a
large proportion of the samiling force should
have been detached in time to reach Calm-
pors—aftsr fermi hard contested actions by
the way—before the end of October, proves
that our offlaws in command in that die-
Chet are men who know the vale* of time—the
Out great requiaPe of commander. Nor are the
bravery and military skill of the English leaders
in India more remarkable than their cordial co-
operation and appreciation of each other's merits. It
is delightful to rend the hank, hearty, soldierly ex-
pre lion cf entire Anibal cceedence in the first tele-
graphic communications of Sir Crum CAMPBELL
and Heraeoca. The sustained energy, prompti-
" tads, and Tiptoes action," Sir Couit tele-
respired as the 19th of Avast, "by which your
" whale proceedings have been marked daring the
" late dilleult operations, deserve the highest praise,
" and it will be a most agreeable duty to se to wake
"known to his lordship the Gorranca-Gexxast

" the sense I entertain el the able manner is which
" yea have carried oat the bliblietielle Of Sir PATIIIICE
" Hamm. I beg you to express to the officers and
" urn tithe different seeps =dor your senseoand the
"pride and eatiehetion I have experienced in
" reading your reports @flint intrepid valour they
" have displayed upon may maim they bars sir
countered the vastly impeder sundaes et the enemy.
"and how nobly they hare enniatained than qualities
" tar which British soldiers Iwo ever ham &tin-
" gaished—bigh courage and endurance. I entirely

" concur in the view you have tak,a•poai-
" don in your telegraph of * 6th figleik trots
" Mungulwar, and of all the real= which
"influenced you to defer, for the present,
" esti,* operation,. I esteem repelf meet foe-
" *ate in haring the benefit of your rt.
" riatanee, end that I should find you in

the important situation in which you are placed

"at the moment." General HAVELOCI'd response,
despatched on the 21st of August, was conceived in
the same generous and confiding spirit r—" I cannot
" express the gratification with which I have
" perused your Excellencj'a Telegram of the 19th
" instant, which has just reached me. The appro-
" bation of my operations and views conveyed to me
" by so distinguished a soldier more than repays
" me for the labours and responaibilitien of two ardor
" one campaigns, undertaken, of necessity, at a most
unpropitioua season. My soldiers will u highly
" and deeply value your Excellency's appro-
" Dation." There is something glorious in this
natural freemasonry by which real widen
recognise each other the cement they come in
contact—even though it be at the opposite ends of a
hug electric wire. CoLIM CAMPBELL is sincerity
itself, and the little demomstrative though pro-
foundly feeling Threw= is unapt to give vent to
his emotions in words. Them rata muss what they
say ; end in their sentiments of brotherhood all their
leading brothers in arms participate. Their relatices
to each other are akin to those which we find de-
picted in the correspondence of Anrera WU.Laet Br,
June Mitcocm, and TIMM Muwuo, during
the glorious campaigns of the Damn, and
afford a guarantee that the straggle of 1837,
commenced under each disastrous auspices, will yet
foroiab—has, indeed, already furnished—the page
of the future Maori= with well-fought fields,
worthy to take rank with Aesaye. Gallant
'olden have already been stricken down—
the LAWIENCIS, Nexus, Niczoimoics, and SAL-
KELL* ; but their places have been taken by the
GIANTS, ORIEATIUDS, and WINDHAMS ; and should
these—which OoD forbid—fall in their tura, there
are among those who follow them " a thousand good
" as they" to step forward to the front and fill up
the gips.

The financial debate of last night in the Hoses
of Commons really turned upon an exceedingly
small point. The CHANCELLOR of the EXCHEQUER
haring—in compliance with the suggestion of Mr.
GLAD4TONE and the evident feeling of the Hour—
es rented to exteed the scope of the Committee of
last Session on the Bank Acts so as substantially to
Imbrues an inquiry into the commercial causes of
the late crisis, had left but little ground for Mr.
DISRAELI to rest his opposition upon. The admis-
sion he proceeded to make in the canna of his
addreim tended still further to narrow the area
of dispute. Mr. Doiturtes saeudment was that
no further inquiry was needed into the operation of
the Bank Act of 1844. Sir G. C. Lawry declared
that as far as that Act affected the question of Bank
of England issues, the inquiries of the Committee
rem completed and would not be resumed ; as far as
the Act of 1844 acted the question of the Country
Bank lines in Ireftend, many points still remained
to be cleared up. The Committee had not yet col-
lected materials for forming &satisfactory opinion on
the question how far it would or would not
be advisable so far "to develops " the Act
of 1844 as to recommend that absolute exttnetkin of
Country Note Mears which, according ter the views
of away financial authorities, that Act evidently
seitemplated. The Committee had made no pester
progress with the question, how far, if Country
imam wets to be continued, it would or would
act be desirable to require an additional guaran-
tee for those trines. Bir 0. C. LEWIS also
pointed out that the Committee of 1864 had before
them not only the Act of 1844, which related only
to the Bank of England and the English Country
Banks, but also the Acts of 1846, which regulated
the imams of the Scotch and Irish Banke. Upon
the state of thous Beaks it was desirable
that there should be inquiry, and that in-
quiry had not been made. Besides, the Com-
mittee of 1836 had not yet reported, sad to
affirm by a Resolution of the House that further ia-
quiry was unnecessary would be necessarily to de-
prive the Country of the benefit of their opinion.
No ooe will deny that these considerations supply
in themselves a sufficient case for farther inquiry ;
but they do not form the whole case.
It is the best feature about the recent discussions
on these subjects, that there is on all hands • die.
position to attribute increasingly leas importanse to
the mere issue of convertible Bank notes as a pro-
ducing cause of over-speealatioo, excessive trading,
and consequent mercantile distress. The great truth
is admitted by the leading financial debaters on both
aides of the House, that it is to the derangement
of Credit and Capital, and not to alterations in the
amount of Currency, that we ere to look for the
causes of such a mercantile crisis as has lately been
prevalent in every great trading community through.
out the civilised world. Currency laws are not the
generative causes of those mercantile crises that are
brought about by over-trading. The primary eases
is a vast aomunalation of ready loanable capital, a
consequent low rate of discount, extreme facility of
amosseninion, and, as necessarily connected with
these, unheeded confidence, and all but unlimited
reedit. It may be, it often has been, that at such
periods the mere currency—the quantity of coin and
convertible notes in the hands of the publio—is re-
latively small, nay, is absolutely less than at periods of
comparative mercantile depression. No doubt there
is a period when the quantity of available currency
becomes all important ; bat it is not at those times of
expanding trod, and unlimited confidence daring
which the materials of future panic are being gene-
rated by the abuse of the credit system. It is when
credit is shaken—when confidence declines—when

acoommodation ia difficult, and discount high—then
it is that the quantity of convertible paper that can
be supplied by the peat central leading establish- I
meet, the Bank of England, becomes all important.
Then, too, it is, and then only, that the evil is felt
of a law which fixes an arbitrary limit—
calculated for quiet times and ordinary exigencies
—to the intent of nets scamamodation which the
Bank can give. The history of last crisis cannot
be more Maly or vocrisetly given than it was last
night by lir. Dieanctt. It was produced by a&-
ran gement ofCapital and Credit, and was aggravated
by a Currency law.

Applying awes admitted fees to the real paint in
inne het night, they certainly seem .t first sight to
Mal both ways. 11 the mischief of PEEL's Ast it
principally felt whoa a crisis has actually super.
'sued, and as sere years It is to be hoped nay
elapse before another mercantile derangement
of equal gravity will rem, Bir O. C. Lime hes
good ground hr somenebsg that no urgent nossmity
In male eat it immediase legielaties. Oa the other
head, if the eterhaeim it the Bank of England es

terieby the AEI of 1844 is admitted fo %in been
the, :principal .agent, net in causing, bat in 'gyn.
%Eng the into oriels, and if on this pint of the cam
all inquiry has been, as f3ie G. C. Lewis allows,
already exhausted, there is a prised/Me case made
out for proceeding forthwith to legislate on this
part of the case. When, however, we come to
consider the fluctuating and undecided state of
opinion on some of the most important points even
of the mere Currency Laws ; when we consider that
important questions u to the English country,
Scotch, and Iriah Loam have scarcely been touched
an ; still more, when we reflect that no investiga-
tion has yet been directed to the action of the Joint
Stock Banks and Discount Houses—the argument
for further inquiry is not to be misted. The
system of the Joint Stock Banks, in connexion with
the Discount Houses, is now one of the principal
means of massing together the investments of one
portion of the community for facilitating the specu-
lations of the other. No rational man can fail
to agree with Sir 0. C. LEWIN, that the vast expan-
sion within the last few years of this system,
however good in itself, ought to be inquired
into. It may be found impossible to effect, or unde-
sirable to attempt, any restraint by positive legisla-
tion upon the exegeses to which the system has been
undoubtedly carried ; but at any rate it is an object
of legitimate and useful curiosity to ascertain as far
ea possible the exact mode and the precise degree
in which it has affected the operations of commerce.
From the studiously guarded expressions of the
CHANCELLOR of the Exateutraa, very little could
be inferred with much certainty as to the extent to
which he was disposed to go in the modification of
the Act of 1844. The principal point on which
he appeared to be of opinion that some change
might be made was the introduction of a relaxing
power into the Act, as recommended by the Lords'
Committee of 1848. This relaxing power, he was
disposed to think, should be vested in Government
and not in the Bank; there being, se he justly
pointed out, something exceedingly like a practical
salseims, in imposing restrictions on the Bank by
one set of clauses in the Act, and conceding a re-
laxing power by another. Another point on which
seemed tolerably clear was, the expediency of
making Bank of England notes legal tender for
the whole of the United Kingdom. But on
the whole his tone was eminently cautions ; nor did
he on a single point commit either himself or the
Government by any decisive pledge. It might have
been well for the financial reputation of Mr.
DIARAILL if ha bad been in some respects equally
reamed. On many points his ideas were undeniably
just in themselves, and sufficiently felicitous in their
expression, but every here and there he was betrayed
into an incorrectness of phraseology, and a reckless-
ness of statement, which created some misgiving se
to the degree in which his remarks were the result
of profound study or dexterous cram. On the
whole, the CHANCELLOR of the Exowacstria had not
a vary great deal to reply to, and succeeded in
carrying his motion for a Committee by a majority
of 178.

tbt Court.

0112011N7/1. Dec. 11.

The Qusu. and Prime Ceeteort, the Princess
lboyil PedeselAm=rototeel to Odom at 4 o'clock
rodriy, hen
no Ned did Clendrs, Lord Iletrord ci de lbadabold,
bed se or Node of the Peen to reset oa edema Ikon the
Mom cd Lola febd

♦ dearer ra dr solder of county parr
ird sr tarring rah IN, =my •st dr
Iterrals• TY et irorml
Visaed IlagrAdralki4d. el elellad, Led Jar
Nab M. Mira =is% Ju, *5
gm Meat Xtrarkd,
Sir Sas Piths% Oinverp et ILlwarlas Mr. 11611 w Sr
Gahm 11=IMMI:17 11=4 mire DualiNCiß
asmilmrallsot Was" IL . Reid* Croria worms,
Yr. Isorr.

of re Throe Courilles of the Royal Cow
rides Me ib Rahliitiou of Is6l, wee bold yesterday at
Or Privy Corell-eMee. Tire wow
,d4.,.F.5el Ora-
'Ms (sheinrrithe Right Hos. W. F. , M.P. ; Ste
W. . T. F. (Mbar ma Mr. Boleg
(seendetr). .H. R. Mbar Seretel Wks, to w
the
earritls, wee ales proper.
The Judicial Comertee of the Privy Council eat retar-
ds . Au sprel, " flonara v. ate Queen" (the Be)los),
(p.m) Comet we bees The lords prow were
the La Presider, Lord Julio§ Markt Broos, the Lord
Mel Hera, the Classodlor of the Dusky of COMIIIIII, SiT
Joke Dolor, Sir W. Mao* Mr J. Pausaws. sad &a E.
B=probee were red tram Use Celerel-eMee "erode to
the genre of Credo, the ream of the A
arida sad the governor Of tie NArsaifts.

ILLIOMAGZ OF THZ PIINC7-41 ROTAL—As the
nth of harry seat Is sew felleitleely led for dus ',Se-
vering oral, per peparier eve big rode at It,
harts Prior Tree the prof detrale la boom of Ur
err sap ior we tabs pref. Werner on burl/ an.
ployed la the limpaining RA arida Adobe eproratv.
TIN Vbq Regal to elated ea to-bp try doe It ray to
dreretell Ike toe adreades of doe reffing. It sal tie pre-
prof Y to. kyle 'Mob wao !Hewed orb= bat liddrey the
Qera MI 10. Priam Corer were rrtel. The 'bolo
arrompiarls re rider die Nefilligtiladelle• of ter Bierria
HAL

DRAMATIC CILLBRATION Or THI APPROACHING
WIDDOIL—The et the Primo. Iterl Is t. bo
edsheetal at the Chapel St. Jfiassfaom the Mk of
Jowoory, oat v • soolmwerd that la Mama at th• arnica
the Quota lam temosedid this. ,a co to take pima
a bar lhintra Thaegria They or to andst of • tragedy,
a anesdy, sml am apse. Th. Moody it to to Mired oa
th• nth. Mead ham his. selsonal, lad the release of
it said is Yr. Phelps. it is =noted that the cast will
compels sil the dramatic strength which caw be tomtit to
Err oa tho comeisa, mid w• his. roman that MI6 Hein
Fess* is tidy to spawn Lady blackath. Tb. opera is to
hi Ds 's Rao of &Was, wigs& Is sow bU npresented
at the Lynn. Ws Wino that the essay his sot bees
tbmQy etiosse, bet own& that it will be ono of Simko-
pearefs ar fiberidie's. La the mitrepolls win bo fall of
foreigasre, sad nada reneentegne of nary toast will be
hen, w• hart so doubt that Om various ownsgem to wham
this. porkeraseare w untreated win eke may acmgoe to
cony them oat with WM.—Lawry Oast&
It is stated to be her Majesty's intention to visit
Alewist Castle ahem the works now in progress are mss
adnoceL

His Excellency Count de Pereiguy and the
Countess de Psesigny strived at the Frond, Embassy,
glbect.gete Howe, yenta. day evening, on return from • vWt
to Baron and Bareness Meyer de Radar.kid at Madmen
Park, Bucks.

IkazurarrAir zuhaloy.

TEN BANK ACTS.—DIVISION LAST NIGHT.
Bank Acts.—Motion made, sad qusidos.propoad, "That •
Select Committee be appointwi to *tors into 'the opera-
tion of the Bank Aot of 1844 (7 and 8 Viet., o. 32), and of
the Bank A:its for Ireland and Scotland of 1846 (8 sad 9
Vic. c. 37 and 88)—(The Chancellor of the Exakquer),
Ameindment proposed, to leave out from the word "That"
to the end of the question, in order to add the words "in
the opinion of this boom, no further Inquiry to secessary
into the operation of the Bank Act of 1844 (7 and B Vki.,
r. 31),"—(Mr. Dirmeli)—irutead thereof question put—
" That the words proposed to be left out stand pert of the
qncetion." The house divided—Ayes, 296, noes, 117.

His Excellency the Minister for the Netherlands
hes smelled at*. residesee of the Legstice fa Leender
Ryan, from :siting Lord sod Lady Weesleydals, at
AsoptHU Park, Beds.
The Duke of Somerset has arrived at the St.
George's Hotel.

The Earl Jermyn will leave on Monday for Ba-
ri& COWS, ea a visit to the Duke of %Woad.

The EUI of Liatowel hu so far recovered from
his Ws accident that be win shortly Mars Melton Mowbray.
for Cosmoses Park, saw Mallow.
The Viscountess Dowager Harding, is expected
in tows emir sect weak, frock South Path, war Perherst.
The Earl of Meath has arrived at Claridge's

Lady Iluian Alford left town on Thursday far
Itesso. when her ledyaittp teem& to pees the winter.

. .
Laid and Lady Harriet Ashley left town last
'mile. he Kinisid Yam aasr Uabridee.

Emil Beverley sod Leif Login Percy- have arrived
at Toaqsay tor the waiter.

A vary Imams maanamarlat has Wyly berm
mood ia the otamieto camel el law Woes Clemelt,
by Yams Aso, Mete Mom et Isoishoy; 111 al•
moan al the late Moots et Larks&try.
Canna, PALAaa.—ars lbaumr• DAT_
host, Do. 11.—Adadokos omits, 7111 ; MO,
by soma Ifiele; , teed Ashokfool

SATURDAY EVENING, DECEMBER 12, 1857.

LATER NEWS FROM
INDIA.

THE RELIEF OF LUCKNOW.

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