Northern Times.
Liverpool, Merseyside, England, 1857-11-12 00:00:00

THE NORTHERN TIMES.-LIVERPOOL, THURSDAY , NOVEMBER 12, 1857

proaching meeting of Parliament, there will be v
little agitation respecting India. The old Indian
Reform Association are, says a Loudon cotem-
porary, "likely to initiate a series of meetings to
take the sense of the Public, and the Reform
League of Calcutta will, no doubt, immediately
Ow.; their views before the country through the
means of platform demonstration. The motion
which Mr. Cobden carried in the House of Com-
mons with respect to China may probably, by this
t me, be forgotten ; but we are able to announce
that her M;4jesty'a Ministers Lave so far acted in
accordance with that motion as to have resolved
upon the recall of Admiral Kepple, on account of
his violent proceedings at. Canton. The Navy
will be annoyed, but it need not be sur-
prised to hear that the Admiral's conduct
was too murderous even for Palmerston. On
Tuesday a deputation from the tobacco trade had
an interview with the Chancellor of the Exchequer.
They complained of the alterations made in the
law last session, by which the expenses of ware.
housing tobacco in the port of London had. _been..
enormously increased, and tlvzir trade seriously
affected. Sir Curnewall Lawis promised to con-
fer with - the proper department respecting the
grievance.

The news from abroad this morning is not Of
much moment. From what begins to transpire of
the intention of the new !Spanish Cabinet, the fact
becomes more and mare visible, that an enlightened
free-trader, Mr. Mon, is in it, and forms its real
brains. The sale of all the domains, reduction of
expenditure, and-free-trade reform of the tariff, is
the hopeful programme at Madrid, which
nobody abroad will be, more delighted to hear
of than the unfortunate creditors of Spain. The
French Atnbassad -r at Cmistantinople has been
brought so far to reason by his Government, that
he no longer refuse to hold intercourse with the
Vizier whom the Salter) has appointed. The
affair of the Principalities drags slowly on, and it
is possible that the Paris Conference, originally
fixed for next mood'. may not be able to meet
before the middle of January, It is said that the
Prussian proposition to give up the idea of a here=
ditary dynasty at Bucharest, and to create a
hospadariate for life instead, has already received
the private approval of other Powers. From
France there is not the least item of intelligence
ioteres:ina to the general reader.
The African mail tseanaer, Ethiope, arrived at
Plymotyh yesterday, but she brine,a'no important
news- The season had -been very sickly. at both
the Cameroons, Old Calabar, and Barmy ; so much
so, that at the latter phce trade had been stopped
for 45 days, but had again been resumed. Several
slavers had been cap4ured off the coast.
The intelligence by the Kangaroo, arrived here
yesterday, is one day later. Money at New York
was easier, and prime paper scarce and wanted.
The Stock Market was firm, and Exchange on
England ruled at 106 to 1.07, The Financialaffairs
at New Orleans were as gloomy as ever.

THE fall of Delhi is confirmed, and placed
beyond doubt. The relief of Lucknow is also
announced. These, however, are but the events
of war, and the effect they are likely to have on
the future prospects of the belligerents remain to
he disclosed. As military achievements, their
value must be measured by their cost. In the

meantime, their importance, coupled with the

most perfect restoration of peace and good order
in British India, would not be sufficient to relieve
this country of the alarminz.consequences which
must follow a blind and obstinate adherence to
the Bank Charter Act of 1844; nor will the
assurance given by Lord PALMERSTON, at the
Lord Mayor's banquet, to the effect that the Exe-
cutive have as many men at their disposal as
they had before the Indian mutiny occurred,
bring one moment of consolation to the commer-
cial public, whose entire substance is threatened
with immediate confiscation. The fall of a
Pagan citadel, defended by a handful of
semi-barbarians, before a host of well dis-
ciplined and robust Europeans, would
under ordinary circumstances excite little surprise
and leave still less room for extravagant exul-
But the disme.ms3rtn3nt of the greeest
mercantile country in the world, and the electric-
like impoverishment of its people, and the de-
struction of its wealth, dignity, and power, is a
phenomenon which admits of no paliation, and
must startle posterity. Such dangers as the
present cannot be removed by crowing over
military glories. A few crafty speculators in
electric wires, may realise their per cent. by an
advance in Consols. But what have we from
India to sustain our produce markets. give em-
ployment to our people through a dreary winter,
save our banks, and restore the great temples of
credit to which all sides are equally debtors ?

tation.

`We have n thing to get from India for many
a long day but that renown which has left us
with 800.000,0001. of debt. This is, doubtless,
a most acceptable comojity for those who like
it; still there are other staples in which the
people of E igland—her millions of working
hands, employers of labour, merchants, ship-
owners, and tra.lers--leal, and unless these
ate rescued from the hands of bind destroyers,
—the fathers of crotchets and champions of
economiO atrocities—where is the money to come
from to purchase this article " renown ?" Can
Lord PALMERSTON and his Chancellor of the
Exchequer, about .to test the practicability of the
Greek fable. all)w this country to be ccn-
sumed, in order that they may call it again into
existence from its aches ? Can the Premier and
his colleagues have been waiting the arrival of
the mail from a dis'ant seat of intestine war, to
restore public confidence and 'the commercial
credit of these islands ? If they have, they will find
themselves most grossly deceived. The news, as
we have it at present, can only be said to be
satisfactory as far as it goes. The mail has
brought no gold, no bills, and no trade. No
tidings of a political character can he made
available at moments such as these. We are
suffering from the operation of an act of Par-
liament which has been thrust on trade to suit
the ' supposed interest of a besotted clique
of money-usurers, and nothing but the prompt
application of administrative foresight and
wisdom, or the prudence and judgment of the
Legislature, can prevent universal bankruptcy in
trade. It is ridiculous to suppose that minor
houses, though of known respectability and
wealth, can stand when the greatest firms in the
world are compelled to suspend payment.
We have lived to see the day, as we have often
predicted we should, when wealth goes for

nothing, and when the name of a houseless
wanderer is worth just as much on paper as the
first merchant's in the kingdom. " Commercial
paper'' has ceased to exist, and it will take some
considerable time before it will again discharge
its invaluable functions to the State and in com-
merce, Remedial measures may be delayed too
long, and we fear this is the case in the present
instance. We have no man at the helm of the
nation who under Stands the nature of the crisis
which has overtaken us. A Ministry which
manifestly allow themselves to be ridden in!o one
corner after another by the London Times, do not,
as a matter A* course, see that any mischief can
arise from a 12 or 1,5 per cent, rate of discount.
These figures have been mentioned, and therefore
We may fully expect to see them demanded.
The fact is, the Bank Charter Act has left the
British Empire bankrupt, after destroying one-
half of the foreign commercial world besides.
The Government have the first demand on the
Bank for the public deposits," and these they
will expect to receive in gold, and as the Directors
cannot prudently part with any more notes, they
must resort to demanding rates of interest which

are equivalent to refusing to supply money on
any terms. This may avert a run for gold
for a few days. But for how long? Tui
is the all-important question. We appreciate
the Indian news as highly as the widest military
enthusiast; but it will not pay the debts of
trade, or keep the doors of the English and
Scotch Banks open. We say this distinctly,
that the commercial public may not be thrown
off their guard, or suffer their well founded
fears to give place to a passing and fatal lull.
What the country requires is an immediate
abandonment of the Bank Charter Act of 1844,
and an enlarged issue of legal tender notes, secured
by the deposit of public or othe: securities,
to be approved by Parliament. These notes
should bear the State Seal instead of the delusive
" pay on demand." After seven years incessant
production of gold at a nominal price, ala in the
largest quantities ever known, we are unable to
realise the drain of " cash payments." There is net
a Bank in the world that can pay its depositors
and its other creditors ingold at any given time,
much less when a general run is created by pub-
lic alarm or distress. Now, we contend, that
the commercial community have not felt, anything
bordering on alarm sine.; the present crisis

cornm2nctql. Mercantile men have been com-

pelted to draw heavily on their bankers, by
distress. The commercial embarrassments of
America following the disturbances in India so

quickly, hurried forward the pressure. But, if
these events had never occurred, the Bank of
England .would have been overtaken in a very
short time by the state of affairs we now

witness. Gold is losing its purchasing power

abroad, and we are compelled to give more

gold for the products we import. This is

nroyed by the fact that whibi tha rAt-on of

discount have risen to 10 per cent., the price
of gold is ouly 3/. 17s. 91 per ounce, which is
lid. the ounce below the low price fixed upon it

at our Mint ; and at this reduced price we are
assured that the exchanges must shortly,
be in our favour ; that to say, gold will be
dearer here than in any other country. This is
all very well where we are sellers—but where we
are buyers, particularly of corn, and other agri-
cultural produce, for which g)ld is required at all
times—we must give more of the precious metal
for what we purchase. Our large importations
of food-stuff, added to the large balances of
trade which we always have to meet in India

and China, must force upon us a hurried repeal
of our banking laws, commencin; with that of
1819• Gold must be restored to the category
of unrestricted commodities, and allowed to find

its natural value in all markets. And it has

become a question for Free Traders whether they
will adopt this course, or forego the free

portation of corn and provisions, in favour o

our eccentric gold standard, issues of notes based

on bullion at an artificial price, and usury ending
in panic and universal distress. Free Trade and

such a system, are obviously incompatible, and
one or other must of necessity give way if the
Country is to be saved from wholesale desolation.

THE public will rejoice, in common with
ourselves, that at last the repeated assaults have
succeeded in overthrowing that most arbitrary
boAy, the Water Committee. The Pike faction,
as such, may be fairly said to exist no longer;
they have been put hors de combat—their
organisation is broken up. The persevering
opposi'ion has driven them, step by step, from
every position they fell back upon, until at last
they have given up the contest in sheer despair
Of the whole fourteen members who constitute
the present Committee, but one only belongs to
the original phalanx of Pikernen—Mr. WILLIAm
EARLIC is the last man" of that once formidable
body left, to wail over the broken fortunes and
blighted hopes of his former companions.
The revolution in the Water Committee is
complete. and it furnishes another proof that evil
doers may flourish for a moment, but their ulti-
mate fate is certain—that deception, however
specious, is evanescent, while truth is eternal—
that perseverance in a righteous cause will
ultimately surmount all difficulties—and that
whatever temporary benefits fraud may confer,
yet, in the long run, one and all will find that
" honesty is the best policy." So soon as the
new Committee get shaken into their places, and
into working order, the matter which will demand
their first consideration is the restoration of the
well water, without any admixture whatever.

This is a sine qua non with us and we trust, that
no specious pretexts will be resorted to to evade
this just claim of the inhabitants. We must
not be told that the wells are inadequate to the
requirements of the town ; we know the reverse
is the fact—and " facts are stubborn things."
Those who tell us that there would be any want
of water, any risk of deficient supply, either for
extinguishing fires or any other purpose, if we
were dependent solely on the well supply, are
either guilty of wilful mis-statements or utter
ignorance of the subject on which they venture
to express their opinions. ' How stands the
case?

It is admitted that the wells are at present
. ,
capable of yielding forty-five millions of gallons
per week. It cannot be denied that in a very
few weeks, and at a very small cost, this could
be increased to fifty millions; and as our popula-,
tion does not exceed 400,000, here we have at
once a supply of 120 gallons per week to every
soul in the Borough, young and old. Can such
a quantity of water be usefully consumed ?
Certainly not. In addition to this, be it observed
that the great majority of our large manufacturers
are not as they are in many other places, depen-
dent on the Public Works for a supply, most of
them having wells sunk on their premises, which
yield ample for their requirements.
Again, when Mr. HA WK3LEY presented his
report to the Council in the early part of 1848,
nearly ten years ago, he stated that the quantity
of water supplied by the Harrington Company
did not exceed 1,700,000 gallons per diem, and
from the Bootle Springs not more than 800,000
gallons, making a total of 2,500,000 gallons per
diem. This, at the time, constituted the whole
supply, according to Mr. HAWKSLEY'S authority,
or exactly one-third of the present supply. We
do not pretend to say that this was an ample
supply, still there were comparatively few com-
plaints, in fact, none from parties having storeage
room for their water; to all such the supply was
equivalent to a constant service. Surely, then,
if in 1848 seventeen and a half millions of gallons
sufficed for the necessities of the town, fifty
millions ought to be an ample supply in 1858.
In short, every one conversant with the question
knows full well, that the wells are now yielding
much more water than the inhabitants
can possibly consume; but it has suited
the purposes of certain parties to repre-
sent the contrary as being the fact, and
the present Water Committee need not expect to
be undeceived by those who have been so
long playing this game of deception. No; if
they are really disposed to do justice to the town,
as we believe they are, they will insist on the
wells having a fair trial before taking any other
steps whatever. It must be borne in mind, that
ever since the Water Works passed into the
hands of the Corporation, the great object of one
and all connected with the Works has been to
act,' ceiate Ole nome supply by every possible
expedient, in order to show the necessity for the
Pike. We have, over and over again, shown
that the whole question of water supply is,
in itself; so plain and simple as to be accessible
to the weakest understanding. Engineers,
chemists, geologists, and quacks, of every
denomination, have managed to make a pretty
entanglement of it. We hope, however, that
the Gordion knot will be boldly cut, and an end
put at once to all the mystery by which it has
been so long surrounded. The Committee have
but to act honestly and fearlessly and they have
nothing to apprehend ; in this course they will
command the approval of the whole town.
An absurd rumour is abroad that it is
in contemplation to elect a rabid Pikeist as
Chairman, but we consider this to be only a
good joke. The Committee would not so far
stultify themselves as to entertain such a
proposition ; it would be positively absurd, nay
more, suicidal, in our opinion, at all events.
Par be it from us to dictate to the Committee in
their choice of President, but we can only say
that if they overlook the claims of two gentlemen
who so long fought the people's battle on this
question, the public in general will not feel
satisfied. Long and faithful services merit
acknowledgement, more particularly among pub-
lic bodies.

AMERICAN SYMPATHY WITH ENGLAND.—We are in the
midst of a terrible convulsion. Our business interests
are threatened with utter ruin, and our working classes
already feel the pressure of want. The darkness thickens,
and no eye can see the ems of the accumulating trouble.
But, gloomy as we find the position of our affairs, they
are sunny and cheerful compared with those of out.
mother-lard. Here we already know the worst of the
calamity that has come upon the country. There the
clouds are still gathering and they must expect two
storms to burst on them at once—each sufficient to try
most sevwly the fortitude of any nation, and calculated
to crush many beyond recovery. The winds from tl!e
East, where, not many mouths ago, England commanded
the homage of a vast and wealthy empire, come laden
with the shrieks and groans of her slaughtered sons and
outraged daughters, and even above these sounds of
expiring misery are heard the imploring accents of little
bands of heroes who are fighting against tremendous odds
of ferocious mutineers, and bravely upholding their
standard, though almost exhausted in the struggle. Ti►e
little island is being drained of every hand that can be
spared from the factory cr the field. There is scarcely a
family in the realm which has not contributed an arm for
the fearful battle, and scarcely a fireside that does not •
:niss a familiar face ro•.v absent in that tropic land of
blood and horror, or hurrying to the point where
England needs most desperate strokes. The strain
upon the energies of our ancestral people is
mighty ; yet they bear it with an iron determination
peculiar to a race born to conquer and command, They
not only display no shrinking from the conftet, but dare
to talk of their ultimate triumph as certain, and plan
the punishment of those who have mused the lion',
vengeful ire. Even while the struggle with the mutineers
is most disastrous in its aspect tbis brave nation prose- t
cutes a war against the million.% of China, and maintains
the supremacy of its dig in, every portion of the globe.
Their morning drum-bet does not cease to follow the
sun around the earth, But it is plain that this test of I

British courage and strength Is one of the severest ever
vet applied, and it is even confessed that at the present
hour their power In the East trembles upo n the verge of
annihilation—that Asia seems slowly slipping from their
grasp. Just about the time that the news of further
Indian disasters will reach England, a steamer will
arrive at Liverpool from New, York burdened with in-
telligence that will send a fearful thrill through the heart
of the kingdom. This people, who have already two
great wars upon their bands, will learn that the financial
panic in this country has proved more thorOughly
destructive than they had any reason to anticipate ; that
the debts due to them in the United States cannot be
paid, and that, instead of sending them gold, we are
looking to them for a supply .to relieve our distress.
Each succeeding steamer will convey to them additional
news of disaster, and, it is almost needless to say, will
set in motion additional trains of ruin and misery among
them. The great manufacturing towns, crowded with
operatives, will be swept as with the breath of pestilence,
and all the horrors of extreme poverty we may behold
around us will be as nothing compared with what will be
experienced in those industrial cities,• where labourers are
never blessed with extra wages, and where there are no
resources such as we find in the great natural wealth of
our country to fall back upon to recuperate. A kingdom
which even in the most prosperous times has its millions
of paupers, must at a period of distress following a
financial convulsion exhibit such a mass of misery as will
appal the heart, sicken the soul, and dim the eye of
humanity. Not only will this suffering of the ge eat work-
ing population make the strongest appeals to-the charity
of those who are untouched by the storm, but it will
probably lead to tumult and violence, threatening the
very existence of the Government. The English are a
Conservative people, and disposed to be loyal and devoted
to the powers that be. But the desperation of the poor
drives them to acts of unthinking indiscriminate fury,
and they care not how they direct their rage to crush- and
destroy. Here is the home trouble which now combines
with the bloody strnggle in the East to darken the sky of
Britain as it has seldom been darkened before. Let us
trod that her energy and fortitude are sufficient to bear
her through the double tempest. Again, we say, while
we are lamenting over our own gloomy situation, let us
not forget the straits in which our mother land is placed,
and let us learn from her a lesson of patience and resolu.
Lion which :'svill;:ren•ler us truly a heroic people.__
Philadelphia Evening Journal.

DEATEI OF MR. ARMIES tI,D HASTIE, M.P.—We re-
gret to have to annannee the death of Mr. Archibald
Elastic., M.P. for Pakley, which took place at Edinburgh
On Monday last. Mr. Hestia had been much indisposed
for some months; but it was hoped, until recently, that
the strength of his constitution would enable him to
recover. He was in his 65th year. Mr. Elastic) was in
many respects a remarkable man. 113 was descended of
respectable parents in the West of Scotland. He had
merely the common school education of his country ; but
that and his native sense fitted him to fill with credit
various important situ tticaa. At an early pbriod his
brothers settled in Calcutta,. where they carried on
business partly as coachbuilders and partly as merchants,
while he settled in London, actisrg partly as their agent
and partly speculating on his owa accouat. The whole
family were very successful. At a later period Mr.
Hastie became connected with the East India Docks, and
his sagacity and ability were eminently displayed in the
skill and success with which he assisted in rescuing that
important concern from the depression into which its
affairs had sunk after the cessation of its monopoly. In
18.36 Mr. Hastie was elected Member of Parliament for
Paisley—a distinction on which he set a.high value. lAnd
it may be said that it cost him a high price, for, owing
to the Severe distress with which his constituents were
frequently visited, very heavy demands were made upon
him, which ho met with the greatest generosity and good-
will. In politics Mr. nestle was an independent consistent
Liberal, and voted uaiteraVy with that party in Paa-
ilament. In private life he was in the highest degree
generous, open-hearted, and friendly. His hospitalities
were conducted on a large and a liberal scale. Re was
the owner of Burns punch-bowl, and the celebrations
of the poet's birthday held at his house were by far the
best of such festivals

~ i
w ~J

COMMERCIAL MORALITY.-111r. David Thernpson, late
of Maghera, died in the year 1643 after a tedious illness,
during which time his affairs became embarrassed, so
that he was in considerable debt at the time of his death.
His two sons, David and James, some time afterwards
sailed for Australia, which they reached in safety, and
after three or four years of severe toil. and having
endured many hardships, they accumulated a sum suffi-
cient tl pay off the debts due by their father, which
amounted to between £1,300 and £1,930. On their return
home they sent a circular to each of the creditors to
furnish a statement of their accounts, all of which they
have since paid in full. Some of the creditors wished to
make a return for such handsome conduct by presenting
them with a se vice of plate each, but of this they would
not accept. These honourable younc, gentlemen have
again sailed for Melbourne, and have talon with them a
powerful quartz crashing machine.—Belfast News-Letter.
Honourable they may well ba called, for honourable they
are-,-more honourable a thousand fold than all the courtesy
honours of public life could make them. This is the
noblest monument they could raise to their father's

memory.

A paragraph worthy to bear this company appears is
an English paper :

GRATIFYING INGIDENT,--Solle years ago—March, 1854
—Mr. James Martin, of Bradbnry-place, grocer, became
embarrassed in circumstances, and being unable to dis-
charge his liabilities, gave up to his creditors a'.l that he
possessed. It is gra'ifying and pleasing to be able to
record that having prospered, he was able on Thursday
to call his cred tors together, and after a friendly cup of
tea, to settle all their claims in full. Integrity such as
this was deserving of some special record ; and the
creditors whose claims he satisfied have presented to Mr.
and Mts. Martin each a gold watch, in taken of their ap-
preciation of the unusual act, and or their wishes for
their future happiness and prosperity.
It almost required something of this kind to testify
that morality was something mare than a legal necessity,
after all the instances of fl ',grant fraudulency we hare
read of within the last twelve months.