Northern Times.
Liverpool, Merseyside, England, 1857-12-24 00:00:00

THE RELIEF OF LUCKNOW.

Tim Indian news received yesterday, and pub-
shed in another column, is of the most glorious
character. The rescue of the garrison and fugi-
tives—wounded men, sick women, and children
—at Alumbagh, and the relief of the neighbour-
ing fortress, Luckuow, are most gratifying events.
The deliverance of the former was a most provi-
dential circumstance, and one which we had
scarcely a right to expect after so long a capti-
vity. The defeat of the rebels at Nusserabad
and the other places mentioned in the despatch,
will help to relieve the flank of our army in the
direction of Agra
' Clearing the Maiwa country of the insurgents
will leave the whole line of communication
between Cawnpore and Bombay perfectly open.
How far this is practicable with the few troops
we have to spare for detached service, remains to
be seen. Meanwhile, we are told that Sir COLIN
CAMPBELL was at the head of 22,000 men, a force
"amply sufficient to reduep nude to ontiro
months to come." This statement confirms our
expressed opinions on this head, and it is more
than likely that Sir COLIN will find it advisable
to retreat to Bithoor and Cawnpore to await the
arrival of further reinforcements. Our loss in
the sanguinary conflicts which ended in the res-
cue of Lucknow must have been very great, and
will require to:be replaced.

The rebels are known to have been in great
force in all the fortresses around Lucknow, and,
if a precipitate advance be attempted, it is just
possible that Sir ComN's retreat may be cut
off, and the most serious consequences fol-
low. A. hasty advance to the relief of Lucknow
was imperatively demanded; but, as that object

has now been accomplished, we do not
expect to hear of any further advance
into Oude until a much larger force has been
collected at the scene of action. When we get
the details of the news already received, we may
have reason to change our opinion. It is

certain, however, that our loss in getting to
Lucknow has been extremely severe, and that to
keep up an army of 22,000 men in the fi ld in
India will cost us a regiment a week; and if we
are told on authority that the subjection of Oude

is to occupy some months, the Home Government
should look in time to the supply of this heavy
draft on the numerical strength of our Indian

army.

Tan eyes of the entire nation are fixed upon
he Bank of England. All classes expect an
mmediate reduction in the Bank's minimum
rate of discount. This expectation arises from
the facts disclosed in their last weekly return. In
this we find that their active note circulation has
fallen 3 709,29.51. below the authorised basis of
their issues. Their credit-paper issues of
L 4,000,0001., and their stock of bullion on hand
being 9,450,8551., gives a total of 23,450,8551,
whereas their actual circulation only amounted
to 19,643 560/. The general features relied on
in the banking department, as the standards of
stability, exhibited an equally satisfactory result.
The Rest showed a profit of no less than 30,9141.
for the week, which, coupled with a decrease in
the circulation of 499,2101., a total of 6,944,3521.
of public deposits, and a reserve of 5,446039/.
of unemployed notes illustrate the marvellous
perfection of banking restrictions and usury
combined. Lord OVICRSTONS could scarcely ask
a higher range of profit for seven days' work,
or a more rigid adherence to the doctrine of
restriction, than that which we find under the
head of "unemployed notes." The idea of any
bank being allowed to demand ten per cent. for
money when it has 5,446,1391. of legalised