Northern Times.
Liverpool, Merseyside, England, 1857-09-16 00:00:00

necessary. Even the various State stocks had greatly de-
clined, and a sale of £22,000. Ohio Sixes of 1,836, which
were negotiated last winter at 1031 had been forced
at 92. All the Railway Companies having been
brought to a ruinous point the combined operators were
now directing their efforts against the various banks. One
of them, the Mechanics' Banking Association, with a
capital of £130,000, had already succumbed. It held
deposits to the amount of £163,000, and had a note
circula'ion of £45,000, the latter. being secured by state
stocks. The organs of the adverse operators openly point
to many other co:cerns, and as these do not appear to
have the courage to demand a contradiction the confidence
of the public is proportionably weakened. Thus we have
such paragrAphs as the following r—" The New York
Life and Trust Company has £550,000 of bills receivable,
and we understand that it is a very sweet lot."—l. The
Bank of Commerce is mother weak concern ; the last
report showed its loans and discounts to be £2,420,000,
and the deposits but £1,220,000."—" The Bank of New
York used to be considered one of the strongest banks in
the city. look at it now. With loans amounting to
£830,000, it has deposits of only £530,000."—" There are a
good many other weak ones on the list." With statements
such as these in daily circulation tha marvel will ba if the
panic does not extend further. Indeed, it is predicted by
the same writers, that it is only just at its commencement.
The mercatatile failures had been comparatively few. Thus
far, they had comprised Bebee and Co., bul'ion brokers,
an old and respectable fires ; J. IL Prentice and Sons,
fur dealers ; Adams and Buckingham, grain-factors ; and
Brers^, Kneeland and Co., locomotive builders ; the last
holding a large quantity of railway securities taken for
work executed. The failure of the Ohio Trust Company
had not been folowed by the anticipated disasters at
Cincinnati. The conamit'ee of investigation of the
Michigan Southern Railway, had held their first meeting.
A large meeting of railway managers bad likewise been
arranged, with the view of cr ncerting various general
measures of economy and reform.

Otra owe; DELHI AT Ilomz.—The last accounts from
the East report that Delhi is still in the hands of the
insurgents, and likely to remain so for a considerable time
longer ; but the British Government are making vigorous
preparations to reconquer and re-establish their empire in
India, and no one can doubt their ultimate success. The
sacred city once again in the possession of the conquerors,
they will not be likely to repeat their folly of strengthen-
ing its fortifications, filling it with the necessary means of
resisting a long siege, and then entrusting it to the keeping
of the very people from whom they had then it. Over
30,000 troops, with necessary stores of war, have already
been sent from England to India, and before long we shall
begin to hear of the terrible retribution that must fall upon
the heads of the native rebels. There will be much done
that will never be reported, and many a terrible massacre
that will never thrill the nerves of European and
American readers ; but there will be enough told to
startle the civilized world, and new Macaulays and
Russells will gain renown by reciting the horrors
of the fall of Delhi. But we have a Delhi of our own
which has not yet fallen, and, From personal indications, is
not likely to fall until long after the fate of the Eastern
capital shall have been sealed. We have not, like the
British in India, conquered a fortress and then given it to
the enemy to keep for us, but we have permitted an enemy
to build one in the centre of our territory, where he has
gained such power that he snaps his fingers at us in
defiance, and we encourage him still further to defy our
power by sending so feeble and insufficient a force to coerce
him that it crumbles to pieces on its way. Our Delhi is
the Mormon City of Salt Lake, where a rebellious
fanaticism, both religious and political, exists, more
malignant and better organised than ,that of India. It
will inspire the Mormons with a feeling of contempt for
the central Government when they learn that even the
small expedition of 1,500 men, which was sent out to quell
their revolutionary and rebellious movements, has been
unable to reach them on account of imperfect organisation
and the lack of proper administrative talent. The wily
and able leader of the Mormons, who has boasted to
his deluded followers that he will be himself President
of the United States within five years, will turn
the failure of the military expedition against Utah to good
account for his ownj:interests, and he will doubtless
attribute it to his own superhuman agency. The main
cause of the failure of the Utah military expedition is said
to be owing to desertions, more than one-third of the force
having deserted since it commenced its march. There
must have been same wretched mismanagement which
reflects disgrace upon the War Department, if the reports
be true that so large a number of desertions have taken
place. They are said to have been mainly from the sth
regiment of Infantry, and were, at the last accounts, of
daily occurrence. The reports from Washington are to
the effect that it is the intention of Government to send
forward more recruits, and that the expedition will not
be detained. How thisLmay be:we do not know ; but we
should say that the wiser course would: be to order the
army for Utah, whatever there may be left of it, into
winter quarters, and, in the meantime, make vigorous
preparations for sending an efficient force early in the
spring. As almost the entire population of U tah is com-
posed of the faithful and fanatical followers of Brigham
Young, they may be left to his tender mercies awhile
longer. Ho.vever he may delude them as to his own
power, and the inability of the Federal Government to
molest him, he labours under no delusion himself. The
rascal will not have the audacity to lay his hand, at least
openly, on any official representative of the United
States. He knows too well what would be the inevitable
consequence to himself of such conduct, and we need
entertain no fear for such United States' officers as
remain in the territory. In the meantime, before a new
force can be organised and sent to Utah, Congress will
asoemb!e, and among the first measurs of the administra-
tion will doubtless be one for th 3 settlement of the Utah
difficulty. Senator Douglas has already published his own
views of what world be the proper plan for Utah, and it
is not unlikely that they may coincide with those of Mr.
Buchanan. Salt Lake will have to be disposed of in some
way by the present administration, and it may not prove
altogether unfortunate if the military force which was sent
to awe the Mormons into pod behaviour, should be com-
pelled to stop short of its destination until some defiaite
plan of dealing with them has been determined upon by
the government. But such a consideration as this should
not exonerate the war department from the censure to
which it is so justly entitled. ,If an army of 1,500 men
cannot be sent in mi Isurnmer to the centre of our own
territory, without the less of more than one third of its
number by desertion, it argues very badly for the proper
organisation of the chief arm of our military defence.—
New York Times.

NEW GOVERNMENT REGULATIONS UNDER TIIE PENAL
SERVITUDE Am—The new Act on penal servitude, to
which her Majesty referred on the prorogation, came into
operation on the Ist of July, and new regulations have
been framed to carry out the same. The Act extends the
power of penal servitude to the same period as transpor_
tation, and empowers the Government to send the convict
abroad. All convicts under sentence of penal servitude
will be subjected to imprisonment for about nine months,
and then bc removed for hard labour on public works,
from which selections will be made for removal to a penal
colony, but the removal will not take place in cases under
seven years. Offenders will undergo a considerable part
of their sentences in this country, and shortly after their
removal would b 3 entitled to tickets of leave, and subse-
quently to conditional p trdons, for good conduct. This
rule will probably be acted upon in the cases of some of
the notorious criminals lately sent abroad, whose sen-
tences have, in some instances partly expired. ,ponviets
who are retained in:this country will have to undergo a
longer period of imprisonment than if sent abroad. There
is at present no colony for the reception of female con-
victs, and the alterations now made with regard to male
convicts will, it is hoped, lead to a " classi9cation," and
hopes may be entertained that many :may be recovered
from the evil of their ways and become good members of
society, if not in this country, in serae of the colonies.
The Government has considerable discretion under the
new Act. They oan:leuen;the tetra Of imprisonment, 04