Northern Times.
Liverpool, Merseyside, England, 1857-11-30 00:00:00

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'OTte l.,:qtat4Prn

MONDAY, NOVEMBER 30, 1837.

THE DAY'S NEWS;

We publish full details of the Indian news
rei3Cilleit by the Overland Bombay Mail. It would
appear that the forbe at Lucknow had been enabled
to maintain their position without material loss, to
the 29th of September. It was expected that by
the 30th of that month there would be 7,000 troops
in the immediate neighbourhood. There had been
some successful skirmishing near -Cawnpore, and
Col. Gseathead obtained a brilliant victory over
the rebels, of whom 2,000 were slain at Agra; and
that gallant officer was pursuing his way down-
ward's to join .Havelock. Malwa district was quiet,
after the rebels had been completely thrashed
by Brigadier Stuart. Troops were arriving in large
numbers daily from England, and before the end
of Novener there would be above 100,000 Euro-
pean soldiers in Hindostan, more than double
what we ever had before in that part of the British
dominions.; -but while the rebellion is thus being
put down everywhere, and treason has done its
worst, the poor fanatical savages are still flying to
arms. So say our despatches.
The intelligence from America, by the arrival of
the Canada, which brought 101,704 dollars and
15,000 sovereigns in specie, is not of much im-
portance. The American journals are occupied in
discussing the recent news respecting the Mormon
attack upon government trains, which they cap-
tured. We have all sorts cf accounts of the pro-
ceedings of the Kansas Constitutional Convention.
One states that aeteparate clause to the constitution,
broadly sanctioning slavery, will only be submitted
to the people for ratification or rejection, while the
Constitution itself, and the territorial laws con.
firmed by it, will remain in full force: Another
states that a report from the minority of the
committee on the Constitution was adopted, pro-
viding that the question of ratification or rejection
should not be submitted to the people. As already
intimated, General Walkerhad left New Orleans on
his way to Nicaragua. He left that city in the Mo-
bile steamer, and at the Balize was transferred to
another steamer, and at once proceeded on his way
to Nicaragua. He was accompanied by 400 men, and,
it is said, had plenty of provisions and war material.
The Government, upon being made acquainted
with these facts, at once despatched revenue cutters
in pursuit of the General, thus " locking the stable
door after the horse is stolen." News from Cali-
foreia, Cuba, and the Sandwich Islands, is not of
much consequence.
Our intelligence from abroad is not of much
importance. A curious despatch is transmitted
from Constantinople, .according to which Reschid
Pitch:: has ordered all lights on the Turkish coasts
to be extinguished, unless the Ambassadors assent
to a new tariff of light duties for foreign vessels.
Probably this anneuncoment refers only to the
light dues which are to be paid at the mouth of the
Danube,

The Observer says, that the visit of Lord Stratford
de Redcliffe to England is entirely in relation to
his private affairs. He has asked for leave of
absence for some time past, but was detained at
Constantinople by the important business of the
Embassy.
On S iturday, the Great Eastern was moved ten
feet, and it is now believed that -she will be
effectually launched by to-morrow's (Tuesday)
spring tide.
It is stated that Lord John Rupsell has under-
taken to lay a Bill for the settlement of the Jewish
question upon th 9 table of the House of Commons
as .soon as Parliament shall meet. The entire
concurrence of Lord Palmerston to this course has
been riven.

We sometimes hear of extraordinary desiQions by
magistrates. On Saturday, at the County Magis.
trate's Office, a man, named Coulter, was brought
up on the charge of deserting his wife. The defence
was, that the wife had committed adultery. Three
witnesses proved that such was the case, but Mr
Benn, one of the presiding magistrates, said he did
not belieye,a word of what had been sworn to, and
was about .committing Coulter for three months,
when, it. ein. intimated by the clerk that he could
not do so, the' prisoner was committed for one
month. Arr. Pemberton severely censured the
couduct of Mr. Bonn, and gave krtice of .appeal.
Certainly Mr decision seems to us to be
quite in contradiction to the evidence, but we are
so accustomed to strange doings of lay magistrates,
that we aro not in the least surprised at the display
=ado by that gentleman on Saturday.
At the Police C4urt, on Saturday, the case of
allegeds iurcier on the high seas was partially
,gone
into, and.certainly, if the evidence of the witnesses
examined can at
.all be relied upon, never was
there a more foul or deliberate murder committed.
One of the witnesses deposed "I never hoard him
(the dc:?eased)pomplairay.:hen he came on beard; he
done hie work willingly and cheerfully. I did not
notice any thing particular until we were from 40
to 50 or 60 days at sea, and then one evening, from
the Gth to the .oth Octoberj saw the captain seize
him by the neck, ,and threw him with violence on
the deck, with his face down. He kicked him r•-
peatedly over various parts of the body—head,
breast, and right thigh—using diabolical language,
and saying, ' worthless scoundrel and lazy
blackguard, you shall never live to see Liverpool.
I will kill or murder you.' Deceassd was calling
for mercy to God, and the Virgin, at the time. I
saw the captain lift his foot, and kick it down
heavily on the small of the man's back. Deceased
was the most inoffensive man in the ship,. and he
begged of the captain, for the sake of God and the
Virgin, not to kill him, He spoko half Spanich and
half English. I understand enough of Spanish to
know what he said. The captain's exclamation
was, ' God d - you, you worthless blackguard,
I will kill you.' Deceased came forward, partly
crawling and partly walking. Deceased said, ll
think am all broke ; I can't straighten my back ;
something broke there; I wish (to tne ss ) you
would look at it.' His words ware, as well I
remember, `Ah, my God ! Captain Christie want
to kill me.: I think something broke.' He was
moaning all that night. fic never walked or stood
upright after that." Such is a sample of the
evidence adduced on Saturday, but there not being
time to finish the _enquiry, the further hearing of
the case was adjourned to this day.

MESSRS. DENNISTOUN and Co's. suspension is
one of the most lamentable illustrations of the
baneful effects of our Rignetary sy§tem the panic

of .1857 has brought prominently before the
commercial public. Here 'we have a firm whose
mercantile transactions are found, on a giren
day, to amount to -2,935,991/., and this large
sum they are prepared to pay off in full with 5
per 'cent. interest, and after allowing for the
systemised depreciation of their merchandise and
private property, by the 31st of July, 1859 ; that
is, within a period of one year and eight months
they can pay 3,000,0001. in debts and interest,
In:fact they will, after writing off quite 30 per
cent. for depreciation, and when out of track,
discharge their liabilities at the rate of
150,0001. per month. This is enough to show
us what British commerce and merchants are.
We have no public institutions in the realm which
require a greater amount of general knowledge,
practical experience, industry, and integrity than
we find combined is the management of these
vast mercantile establishments ; and yet how
coolly they are suffered to fall to the ground.
The Bank which refused such a firm temporary
assistance must have been bankrupt itself. It
could have had no money to employ in the legiti-
mate business of a banking house. If the most
marketable merchandise, and large private pro-
perties, are not good securities for a Bank to
advance upon, what would they have ? And if
they cannot find money for such purposes, why
should we be pestered with them in trade? If
they have only been created to lead us into
difficulties, and then leave us in them, it would
be better for every man to be his own banker.

It would be better to open depots for strong
boxes, and to refer all persons requiring a refer-
ence to the bona fide keeper of the merchant's
cash. The primitive simplicity of such a course
might bring our currency quacks and SHYLOCKS'
to their senses. Associated merchants might
receive money "on call," to be employed exclu-
sively in trade, without the intermediate agency
of bankers. It is quite clear, however, that
something must be done to uproot that power
which is now employed to crush the greatest, as
well as the smaller, traders of England. A bill,
if made payable at Messrs. DENNISTOUN and
Co's. Counting Houses, would be just as valuable
as if it had to be taken to Messrs. NOCASII and
Co's. counter. The saving of banking commis-
sions on the gross amount of the trading transac-
tions of this country, would be a respectable
set off against the losses sustained by panics.
If our Banks are to be nothing more than strong
rooms for the reception of money, and if our
currency is really no more than so much paper
issued against thirty or forty millions of coin,
which ought at all times to be in active circula-
tion, or available to meet the wants of trade,
we had better have strong boxes, from which the
cash can be had, without paying 10 per cent. for
the use of it. The old Lombard system, as
administered in these islands, is not suited to
this advanced age. In olden times, it took a
dozen or more merchants, of unquestionable
standing, to form a bank. Now it only requires
three or four partners to form a mercantile house
such as Messrs. DENNISTOUN and Co.'s, whose
beoks show at the close of each year larger
totals than soave three or four banks. And is it
to be supposed that the weaker will be suffered
much longer, by any species of sham, to crush
the stronger

Something more feasible can, surely, be
devised. The present scheme is too paradoxical
for a business people. They are paying too
dearly for an accommodation they do not receive.
Merchants cannot get bills discounted when gam-
blers find no difficulty in borrowing money to
square a betting-book. When the latter must
not venture to take the long odds, the former
must not look for reasonable profits. "We are
not to blame for all this,' say the bankers.
Granted, they are not; but the system they
administer is. They cling to it—they never
remonstrate with its authors in the Legislature,
and would sacrifice the greatest monuments of
mercantile skill, industry, and enterprise the world
ever saw, sooner than unite their voices to those of

our traders, in protesting against the continuance
of this imposture, which robs both rich and poor
alike. The bankers of Lancashire have not uttered
one word of discontent since the existing money
panic commenced. Nor will they say one syllable
unless they are forced to it by the pressure of pub-
lic opinion. A thousand commercial houses, such
,as Messrs. DENNISTOUN and Co.'s, might be sacri-
ficed to gratify the base avarice of the half-dozen
.BETYLOCKS
,who pull the strings of our currency
system, and who, with only eighteen-pence in
the pound to meet their promises to pay, have
the audacity to call themselves '• Bullionists," and
refuse assistance, forsooth ! to merchants who can
pay twenty shillings for every pound they owe,
and throw retired men of fortune, from the field
of their useful and hacourable labour. We were
deeply concerned when ,we heard cf the reported
suspension of the Northumberland and Durham
Bank, as it was stated that no less than 200,000
souls received their weekly wages from this one
institution. ; but we find that bankers are
without sympathy for the trading and industrial
classes. The inconveniences the trader
experiences they look upon as matters of
secondary importance. The real object of the
present panic, however, must out sooner or
later,

lithe Bank of England be resolved not to give
assistance to the Private or Joint Stock Banks of
issue, it remains to be seen whether they can out-
live the hurricane, and keep the Threadneedle-
street olizarchy from monopolising the whole of
the note issues of the kingdom. There is consi-
derable room for speculation on this head, but

we really see no cause for any solicitude on
the part of the mercantile community on
the subject. Asjong as we have a cur.
rency based on gold—a fixed standard
price for that metal—the Bank of England
monopolises the issue of legal tender notes—
and the demands of the State and all local tax-
ation are payable in gold, the public cannot do
better than leave Parliament and panics, ban
kers and bankruptcy to fight it out. The
Chancellor of the Exchequer will discover the full
extent of the mischief which has already been done
when he comes to the deficit he will find in the
incomennd property tax for the current half-year.
Liverpool will be a considerable gainer under
this head, and if it was not for the loss the whole
community sustain by the unjustifiable aban-
donment of such firms as Messrs. DENNISTOUN
and Co.'s, amidst the whirlwinds of systimised
usury and commercial depression, we would
leave the rival banking interests, like the two
Kilkenny cats, to fight it out with the London
Times for their disinterested umpire. Meanwhile,
we are glad to find that the suspension in ques-
tion will produce little or no effect in America.
The amount of bills running in that direction,
is comparatively small, and will be considerably
more than balanced by the credits to be realised
in the United States. The debts of the Aus-
' tralian house are also secured in full, and will be
paid in four instalments, of 6s. 81, 3s. 4d., ss.
and ss, respectively—a proposition which was
unanimously adopted by the creditors.

AMERICA.

BY TELEGRAPH TO BOSTON.

Flour unchanged and rather inactive.
Corn very scarce and firm, sales 7,000 bushels
mixed Western, 80c. in store, 822. delivered.

Perk quiet for mess.
Sugar very heavy and 1.3. to ie. per lb. lower on
the three days, sales 760 hhda ; Havana lower
on the week and dull.
Freights to Liverpool dull.

NEW ORLEANS, Nov. 17.—Cotton un3hanged in
price. Sales 11,500 bales. There is a better feel-
ing in the market, and supplies are liberal. Mess
pork sells at 15 dols. Lard in kegs 133 c. Ganny
cloth 12c. Exchange on London, 97 to 100 ; on
New York, 2 dis.

BY TELEGRAPH VIA HALIFAX.

NEW YORK, Nov. 19, Evening.—The news from
Europe by the Niagara, was published hero yester-
day afternoon. Our Stock Market has since
become irregular, and prices are lower.
The Money Market is slightly easier. The quo-
tations for sterling exchange are nominal.
Cotton is quiet, the sales being wholly unim-
portant.

NEW ORLEANS, Nov. 11, Evening.—The advices
by the Niagara have been received here, and have
caused a decline in cotton, with considerable
irregularity in the quotations. The sales to-day
have been 3,500 bales. Sterling exchange is selling
at 103.

Messrs. Neill, Brothers, and Co., telegraphed
under date New York, evening of the 19th, that at
all the southern ports the price of cotton generally
receded slightly under the influence of the Ni-