Northern Times.
Liverpool, Merseyside, England, 1857-11-07 00:00:00

TO THE ELECTORS OF • EXCHANGE WARD

GENTLEMEN,—It is with deep gratitude I
return you my most sincere thanks for the honour
you have done me in again returning me as your Representative
to the Town Council
My most ,earnestendesvours shall be used in that body to iliszharge
th• duties of my office faithful), and hoLestly.
I ka * the honour to be, Gentlemen,
Yours most obediently,
T. LIMEDALE.

November 3rd, p 857.

TO ME 'FREE AND INDEPENDENT BUItGEtSES .OF ST.

PAUL'S WARD

FELLOW BURGESSES,—I taketthe earliest
opportunity of returning you my sincere thanks for
'lte honour you hire conferred upon me. by ELECTING ene one of the
MEMBERS of the MUNICIPAL. COUNCIL. of this BOROUGH,
and for assuring you that nothing shall be waiting oa my part in the
independent ant faithful diselarge of the duties which may devolve
'upon me in that capacity.—l have the honour to be, Giathinrn yours,

Zdthfulty and obliged, -
Bootie Castle, Sod Nov., lEri7.

FINAL CLOSE OF TUE POLL.

W. BARTON
7. R. WOLIFFIE

WII. BIRT-ON.

. 201
.

MAJORITY. •.• . • ••.• • • • 7

AMUSE itIESTS, PUBLIC MEE asos,

THIS DAY.

Trai-TM ROYAL—Professor Anderson-7 p.m.
AbiPHIVIDATILE—DranIati I PelfOrratTtee-7 p.m.
Sr. if seim's HALL—The People's Cork erts-8 p.m.
lborsitsit's CIRQUE VAZIRTE, Da.ls-street-7 p.m.

Lirwoot. AoADMIT'S EXIIIBIT I ON, Postoffico-place.
Ai sores WAYWOBK EXHIBITION-10 a.m. to 10 p.m.
lioz.s.L CoLosasum —General Entertainment-6.30 p.m.

a" For particulars see advertisements.

TO CORRESPONDENTS.

J. P. G.--recidedly not ; nor have we ever heard of sn..h a Tower
since the passing of tLe Munlc pal Reform Bill. There would have
to be anew election.

Qi) •.11 1,1 - •
'1°1111.")rn

SATURDAY, NOVEMBER 7, 1857.

THE DAY'S NEWS.

The .first meeting of the new Council will be held
on Monday. at which the Mayor for the municipal
year of 1857-8 will be elected. The Tories are to
put forward Mr. James Hohne, btf.; he is to be
Opposed by a gentleman in every way fit and proper
for the office. A caucus meeting of the Liberal
Councillors was held yesterday, at the Clarendon
'Zooms, at which it was resolved to nominate Mr.
Alderman Preston, for the Mayoralty. It is also
stated that no Town Council Committees will be
appointed until the first week in January next.
In yesterday's paper we mentioned that a meet-
lug had been held in Glasgow, respecting the
present monetary crisis, and that a deputation had
teen appointed to wait upon the Government on
the subject. We 110%,/ learn that the deputation
will demand that the Government rescind the
Bank Charter Act They hope that Liverpooland
Manchester will join with them, as immediate action
is necessary. The deputation will be in London
on Monday morning. The members for Glasgow
have written to Lord Palmerston, that the deputa-
tion will then wait upon him. If relief is not at
once granted, all the works of public utility will be
stopped; and a large body Of the labouring classes
will be thrown out of work. We sincerely hope
the danger in which our capitalists ere now placed,
and that they will see the expediency of at once
complying with the en'reaties of the Glasgow
Merchants. Surety Liverpool and Manchester,
seeing the dirge stake which they have in the
prosperity of the Country, will not be behind hand
in bringing the matter to an issue. The executive
must be compelled to annul the Bank Charter—
at any rate, to.suspend it fur a short period.
The Bank Returns for the ten days ending
November 4, being the first of the new series of
returns up to the Wednesday afternoon, published
in last night's Gazette, are very unfavourable
indeed. The stock of bullion inthe Bank was only
*497,780/, being.a decrease• of 872,014/ compared
with the return of Oct. 23. There, is an increase of
500,480/ in th.a active circulation, a decrease of
134,437/ in Government securities, an increase of
5,223,710/ in other securities, and a decrease in the
issue of notes of 1,030,1651,
It is stated that the Lord Mayor of London is to
be made a baronet. It was intended some time
since that his lordship was to have the honour of
knighthood conferred upon him, in
.consideration
of his successful exertions in originating and
carrying (melte Indian Relief Fund ; but it is now
considered that lie has so much added to his claims
by his magnificent reception of his royal visitor
that nothing short of the higher honour of the
baronetcy will suffice.
• At the banquet given to the Duke of Cambridge
by the London Court of Common Council, on
Wednesday evening, Earl Granville; in the course
of his .remarks, passed a number of euloguims
upon his friend, Lori Canning, the Governor-
General of India, and endeavaured to refute all
the imputations which had been cast against him;
but his defence was of a vary lame character in-
deed, and Lord Canning will not think much of it.
Earl Granville says, that the instructions of the
governor-general relative to the treatment of the
mutineers, has been sanctioned .by Sir John
Lawaence.—Therefore -th,ey are perfectly right, and
that Lord Canning and Sir Colin Campbell were
acting in harmohy. If we may judge from some of
Earl Granville's remarks, he is impeseed with the
belief that the alit ged discord between Lord
Canning and Sir Colin CanaphelrrwltU he in a sort
of a wgy contradicts) is regarded as of consequence
only in Scotland ; and 'that even there, rit implies
nothing more than a wincing.of national sensitive-
ness under a suspicion that a favourite countryman
.has • been disrespectfully treated. .But according
to the Daily Ileivs," Lord Grauville may rest as-
sured that the feeling is equally strong on both
Sides of the Tweed, and that the .popular sentiment
has been in favour of Sir Celia 'Campbell, and
against Lord Canning. simply and solely
because the former has been understood to
Wee a wise, and the latter an unwise, view
of what has been done in India. If Lord
Granville can prove that Sir Colin has became
a covert to Lord Canning, which he hes not
yet proved, the consequences will be, not that Lord
Canning will rise, but tleet Sir Colin will fall in
public estimation."

A pubic meeting on Indian Ileferm in con-
nection with native rights, has been held at the
Friends Meetinghouse, St. Martin's-laue, Dmdon•
Mr. Blaloolm Leivin, late a judge of the Sudder
Court of Madras, presided, and stated that from
what he knew the hatred' between the people was
the cause of the revolt. It was a question between
the bla,..ks and whites. A let er lie had received
from a gentleman holding a high poet gave a
speech of a native of some sanding, who said the
natives hated us, and we deserved it, and the writer
of the letter echoed the words " we deserve
Referring to the causes of dislike of us by the
natives, he said the chief one was the interference.
with their religious convictions. The suttee Was
rightly abolished, but the qu-stion of marriage was
perhaps wrongly altered. He then want at some
length into the question of the natives' property,
and said he saw nothing to justify any act being
passed to remove the property out of ,the family.
With regard to the law of adoption—of passing
certain rites over the body of a Prince, either by
big pop or adopted son—the Government, for

reasons best 'known to themselves,' said it
should not 'be carried out. That was again
an interference with their religion. He then
referred to the question of Oude, which he termed
as a dirty spoliation. We had a subsidiary force
there, and were to help the King, and he was to
render us assistance, but that assistance was like
the hug of a bear, it squeezed all the blood out of
him The worst part of the question was this—
that the King of Oude rendered us assistance when
all the other princes were against us, and for that
we, took his country from him; and'besides, he
lent us large sums of money, which had never
been paid He mentioned this much, because he
felt ,that Oude was the keystone of this revolt
The meeting was unanimous in advocating a rever-
sal of our policy towards the natives of India, and
in condemning those measures of bloodshed and
.retaliation which have been so loudly demanded
by a portion of the public press: The success of
tha meeting clearly shows that the public are pre-
pared to support an Indian Reform agitation. The
East India Company had better prepare for the
battle.

The news from abroad, this morning, informs us •
that there is, evidently a very serious rupture
about breaking out between Denmark and the
Duchies. It is denied that there is any convention
between Russia and Austria on the question of the
Principalities. The ministerial crisis in Belgium
continues. Mr. Charles Rogier has now been en-
trusted with the task of forming a Ministry.
Rogier is one of the most high minded liberal states-
men of Belgium. Letters and papers from Madrid
show that the rumours of a new ministerial crisis
were not altogether without foundation. The
Lzreat difficulty for all the Spanish Ministers
was al.ways the Queen, and this time the story
seems again the same. It seems from what is
reported to-day from Faris, that not merely has
the French Ambassador at Constantinople refused
to hold diplomatic intercourse with Redechid
Pacha, but he states his reasons in a note to Ali
Paella. He now holds aloof, he saye, on account
of the way in which Redschid Pasha, when for-
me' ly Graed Vize:, countenanced the illegal prac-
tices of the Moldavian Kaimakan, for the pur-
poses of falsifying the elections. This renders
the situation an extremely ticklish one. The
French government, at the' time in question, did
not, from the request due to the sovereign rights
of the Sultan, insist on the recall of Prince Vo-
gorides himself. Does M. de Thouvenel think the
time has arrived when that respect may be set
aside ? The details concerning the reduction of
the Austrian army, show it to be bona fide mea-
sure, like those resorted to already by' Russia
and France. There can . be no doubt that
in these three empires the state of the
fieance has had a great deal to do with
resolutions of this kind; but may we not ascribe it.
partly also to a silent but powerful current of
public opinion? The Russians, the Austrians,
and the' French are well aware of their industrial
inferiority, when compared with that of Great
Britain, and they have begun to ascribe it to the
exorbitant and fruitless efforts bestowed by their
guverments on the increase of the military power.

PANICS and Whiggery commenced with
usury, and they both appear to be destined, to
explode under the pressure of a nine per cent.
commercial rate of discount. Lord MACAULAY
has failed to furnish a precedent for the present
state of the monetary affairs of the kingdom, or
to guide his -friends out of the perils which
surround them. He does not forget to record all
the consequences which followed the unrestrained
issue of paper money—the random inflation of
the money market—the debasement of our
metallic currency—and the sudden fluctuations in
the value of gold. In the dry records of the
earlier days of his Whig friends, and more
startling realities of later times, the literary
..azu 11VVat, at/ •-• uKV uttLit,ti LUG 1111../ALS • ,11L.7.7.3 vo.
great mind, and the fiery eloquence of an accom-
plished orator. The Whigs can never sufficiently
repay their historian for the force with which he
has brought out the points cn which they rely
for the defence of their monetary policy ; and
England, and indeed Scotland, can never forget
the practical results which have followed the
money quackery, or rather scheming, which he
has advocated so warmly. As for England, we
are so accustomed to be fleeced periodically by
Whig panic-mongers, that:we think no more of it
than eels do of the very simple process of
skinning. But we may search history in vain to
discover the time when the manufacturers and
employers of labour in Scotland were constrained
to hold meetings to consider the best means of
averting the evils of a general banking panic, or
to apply to the Imperial 'Government for that
assistance which the Scotch banks could not
supply. Thp present is the first time in the
annals of civilised Scotland that such a thing
has been recorded. However, we may safely
leave Scotland to extricate herself. She know.i
the exact time when PEEL took from her the
money power to which she is indebted for her
rapid progress, and so very early a failure of "the
system of banking-monopoly which was given to
her in its stead, will not be thrown away upon a
,people unusually well informed on banking
:subjects.

The great burden of the nine per cent. Whig
panic is to fall on England's trade and commerce.
We are too unenlightened and rich enough to
bear it. We have been taught to think—and

great care has been bestowed on this branch o 1
our education—that gold, and ,nothing, but gold,

is money. If that be really so, we ' were the
poorest nation, in proportion to the number of our
people, ou,the face of the globe. upon the dis-
covery of large surface dep nits .of gold in
•
California and Australia. We had so little
corn, or other .descriptions of food ; so few tools,
clothes, and necessaries for mining, and, conse-
quently, they were so excessively dear
,that, if
the gold deposits had been buried only one
hundred feet below the surface of the earth, we
could not have gone after them with the re-
motest hopes of raising the precious metal at a
profit. Such was our impoverished con-
dition under the gold currency, and " cash
payment' system so recently as 1830. Only
seven years ago, such was our condition,

that we dare not have embarked in the production
of gold, under the most favourable circumstances
it could be found. And yet this is the com-
modity on which the industry and trade of this
country are left to exist. Within the last seven
years we have, however, been obtaining it in

Arge quantities, as the spontaneous offering of
he Eurface soil—and a if Lo prose to us its utter

valuelessness, as a basis even. of commercial and
banking stability, the immense quantities of
burthen we have received has left our stores, and
.we are again the poorest nation on earth,
when we take into account the almost fabu-
lous amount ,of gold our own territories have
produced, and the large supplies we have received
from Foreign States. What is ten, fifteen, or
twenty millions in gold, compared to, the
200,000,0001. in bills of exchange which are daily
floating in our trade ? How far would 20,000,0001.
in sovereigns go towirdi realising the dreani
of " cash payments," where such liabilities exist ?
Such a thing was never meant. Why then suffer
ourselves to be ruined by a childish delusion ?
No banker or merchant is supposed to be ready
to pay off all his liabilities at any moment a ner-
vous or money-stricken public may think proper
to run upon him. He must wait as
the farmer does until the seasons come
round, and he can bring his produce to market.
But how is this to be converted into money—
gold—when that commodity is in great demand
abroad, and has left our coffers ? " Making gold
dear," or demanding usury for its use in trade, as it
is called, is the Whig practice resorted to, and it
has the desired effect; but not until our
mendicancy is aggravated and exposed by the
sacrifice of all our native productions, which
must be sold ten or twenty per cent. below cost
price, and filling our poorhouses with our hardy
producers, who can no longer obtain a day's
wages for their honest toil. This is the desperate
sacrifice we make to ill-disguised •Whiggery, in
monetary affairs—these are the terrible
sacrifices our gold-worshipping brings on us
regardless of the inclemency of winter. or
the fickle nature of our sowing and harvest sea-
sons. Our wealth in land, houses, ships, rail-
ways, navigable rivers, machinery, and human
skill and labour is real. Our wealth in gold is
but a fable, and must from its very nature, ever
remain so. It would be well for the Hebrews that
they had never known the " least'variable metal,"
and shall we never be warned of the danger of
the political idolatry of the Whigs ?

Lord PALMERSTON'S stern reserve at a crisis
such as the present, shows how he prizes the
traditional policy of the politic school to which
he belongs. To regain possession of five or six
millions of sovereigns, which have left us mone-
tarily, in the ordinary course of trade, the Premier
would allow fifty or sixty millions of the com-
mercial substance of the nation to be sacrificed
by depreciated markets. No, statesman capa-
ble of co.nprehending the wide spread
distruction of property which follows•
times like these could remain motionless
while the power of giving instant relief was in
his hands. Lord PALMERSTON has this power at
his disposal as Lard JOHN RUSSELL had in 1847,
and he must use it pronaptly if he hopes to re-

__oo U. Ca, G
Lord MACAULIY from universal ridicule, which
by the way is almost impossible.
The public are by no means at a loss to know
the real originators of these frightful commer-
cial revulsions. We may b 3 told that PEEL was
a Tory, and latterly a Conservative, but all this
matters not. The modern Whigs have identified
themselves with the ancient Whig monetary
policy of this realm, as revived by PECL, and as
the nation is doomed to be commercially desolated
every five, seven, or ten years', by usury, which
is the beginning and end of Whig gold worship,
they must be held politically responsible for the
calamities which are forced upon our commerce
and the State. With regard to the position of
the latter, where, we ask, is there another
European Power in the same lamentable
condition as this Empire is in at the present
moment, with its entire social fabric crumbling
to pieces, its substance passing away, into the
hands of others at less than it cost us, and a
fierce armed struggle raging in one of the most
distant parts of our possessions ! Her Majesty's
Government cannot, surely, be aware of the
character of the crisis of November, 1857.
They cannot see it in all its 'desperate phases ;
but the time has gone by for palliating dangers
present and to come. If the Government are
not prepared to meet them, our commercial men
must act for themselves, as their long-tried
experience prompts them. Practically, " cash
payments" are suspended. The country cannot
command sufficient gold to meet its engagements,
and it is most unfair to allow ten uut of every
hundred of our most respectable firms in the
North to be broken up, and the whole of our
mercantile community cut to pieces in detail.
The embarrassments of the day are universal, as
all social derangements must be, when their
origin can be traced to the crochets of factions
and compromise of parties. The followers of
PEEL betrayed the country to the Whigs, and we
may ask both Whigs and Tories what they think
of their handy work ? The response will be the
old cant—Libertas et natale soluni. But this is
not the laaguage of commerce; and we wait
impatiently to hear what reply Her Majesty's
Ministers will give to Scotland, and what relief
they will afford to the maritime and manufactur
ing districts of the North of England.

AT the conference which took place at Man-
chester, on Wednesday last, respecting the dock
affairs of Liverpool, our interests were gratui-
tously represented by Mr. HA.I3,OLD • LITTLEDA.LE
and Mr. Jo air LAIRD. The part these gentle•
men have played in the manipulation of Par-
liamentary. Dock Bills is best known to the Cor-
poration, and what that body has done in reality
remains to be told to the public. "The Dock