Northern Times.
Liverpool, Merseyside, England, 1857-10-26 00:00:00

THE DAY'S NEWS.

The most important news this morning is that
received from America by the arrival of the
steamer Arabia. The panic in us) money market
sontinuedsfailures were occurring daily, and the
value of all kinds of produce and securities was
The exchanges, foreign and domestic,
were deranged, and business generally was almost
suspended, the community beingeengaged in the
all-absorbing occupation of providing means, at
ruinous sacrifices, to most impending liabilities.
On the 14th inst. several of she New York Banks
suspended specie payments, and on the following
ramming the whole of them agreed ae stop paying
spicie. The,Eoston Banks •erere.about following
the example. hut as yet the gouthern institutions
were very fires; and able to meet all demands.
The movement of the New York and
Reston B ,n.hg tbnilah
accordnes sto a local merermtae circular,
at once relieve the. business comenunitye exchange
iteguciations will be very B`,Ka3 reorganised, the
value of produce swill enhance immediately, and
the buainess of the country resume its wanted
activity. The; fell weight of ads step, however,
wi'l be experienced .adversely on the country for
many inentlis The Pennsylvania Legislature has
passel their Relief Bill, a suraniarseof its provisions
will be found isi another column. 'The othsr news
by thia.arrival is not. of the least moment or im-
portance.
We are now in hourly, expectation of telegraphic
news from ludia, for it arpears that the Governor
General has orders to despatch a spesial steamer
to Suez with any imnortsat intelligence, and the
Consul at Al x Inddespatch a steamer thence
with the news. *We are new, however, so nese to
the arrival of the regts!ar :mail that we shall not be
likely to have anything in anticipation. But in the
days of the telegraph there is no keowins whateany
moment may bring forth. es In the meantime,"
says the Ol‘sercer, "it is diffisult to prophesy as to
events not known. ;Enoush, hewevet; is know
,to
enable us to expect good instead of evil tidings.
Time is fighting on our side, as well as all needful
preparation and watchfulness. The treacheries
and atrolicics perpetrated • by the snuCneers, found
us ueprepared and unsuspecting. We are now
wary and re.nFereed. 'We confess to a strong :feel-
ing of confidence in the safesy of Lusknow. As
for the ' fall of Dellii,' we are not so inipatient. We
have no doubt of' it in its own good time. The
communications between 'Calcutta . and Allthabad
are Open by the river and by the land. ,We shall learn
by every psst of the errival sf troops froarheme, and
we fieni'y hope to hear no lUQV3 cf the stedden arid
cruel disasers inflicted upon our
,innocent and
helpless women and children. Even the profes-
sional fash-fieders begin to see the turn of the
tide, and must be fain to acknowledge the activity
of Lord CAnninL): iu providing reirstoreements from
every place within reach, and the prompt action of
the Government in sending out Sircelin Campbell
on the 'very day alter the receipt of the first news
of the Delhi mutiny, and in despatehlng attes him
in Trial< suceessioneevery available regiment in
Eagnind• These regiments will be aisnatineed ss
arriving fast in India by every future 'nail. So
much for the grumblers, whose oscupation
is from that moment gone. I is must satis•
factory to be able to aid .that the recruiting for,
the army goes bravel on, and that we shall have
at the depot of every Indian•regiment, before the,
spring, a most efficient and diseiplined relief." The
writer gees on to say—" It may not be amiss to '
state that the alleged difcerences between Sir
Colin C-nnpbell and Lord Canning are the mere
coinage of the brain of those who write without
any Iteowledge of the matter. Sir Colin Campbell
Warted in such haste the: hiseappointment Lo the
Supreme Council of India was not made ouf: It
followed him by the next mail---and we shall pee-
sengy hear of his taking his seat' beside the
Governor-General at the Counell Board. Lord
Canning has written home, expressing his grati-
fication at the arrival of the Coaidandes-insandef,

adding his conviction that the services of Sit-
: Cohn Campbell wily prove m3st valuable in the
Council and in the field.'"
The last Southannwon ship from India 11-3 m
hr uht a Rood number• of private •letters to hand

from those able to cemtnunicate their impressions
of the rebellion. Borne of the letters which we
have s:en contain very little that is new, bat it is
evident from their contents that the European
- inhabitants aye far from feeling secure anywhere,
and one universal feeling seems predoninant—a

conviction of the supineness of England, as proved
by the cool manner in which the bf.►ir was fiast
treated. The writers intimate that there was a
time when the Q,teen's Ministeis would have been
disgraced for the conduct they display. They
express a hope that the dilatory proceedings of our
Government will be taken up by some independent
members during, nest Session.
Mr. Barrow, MT,, aeliverod some intelligent