Northern Times.
Liverpool, Merseyside, England, 1857-09-11 00:00:00

The 46:h R liment from Corfu, the Ist Regiment (Royalo
TELEGRAPIIIC NEWS
-4
from Gibraltar, and the 21st, 28th, and 71st from Malta are
amen the regiments expected to be remoras],

LORD DALHOUSIE AND THE REY)LT.--A correspondent.
who writes to suggest that the Dike of Cambridge should
be appointed Military Viceroy of India, remarks :—" The
Marquis of Dalhousie, just before Tiitting India in 1856,
after a remarkable administration of our Asiatic empire of
eight years' duration, recapitulates, with seaming compla.
cency, the flourishing condi:ion in which he leaves his
government. Four kingdoms and divers minor possessions
annexed to our Eastern dominions, four mitlionn sterling
added to the revenues of India, useful innovations in the
internal administration, prison discipline reformed, a
splendid scheme for the elucation of all classes of both
sexes carried into effect, government colleges and a uni-
versity in each of the Presidencies establishe,l, railways and
electric telegraphs in full activity; in short, all the
elements of material improvement were at work, and
the whole country was tranquil. ' Yet,' adds the noble
marquis, 'no prudent man who has any knowledge of
Eastern affairs would venture to predict the maintenance
of continua peace within our Eastern dominions.' His
lordship, perhaps, alluded only to external warfare ; but ws
should not overlook the appropriate application of the word
" within."

ENOL/5/1 CAPITAL AND ANZIIICA.N Iterenomes.---The
last intelligence from. New York suggests some curious
considerations regarding the conditions on which Euglish
capital is invested in America; The amount of American
securities held here can merely be c3ejeetured. Five years
back,it was thought to be nearly sixty millions sterling ;
and it may now be eighty or a hundred millions. Until
the approach of the Itassian war, they almost all paid
large and regular dividends ; but the ability of the various
railway and other companies, to raise fresh money as it was
wanted, on second, third, and fourth mortgages, in London,
having then received a check, there has since been a constant
downward tendency, until perhaps two-thirds of the weaker
sort have gone into comparative insolvency. For a time,
when distributions could no loeger be made from capital,
the device was hit upon of paying what are called scrip
dividends, and as these cost nothing they were always on
adiberal scale. The accounts usually showed to the share-
holders that there was a profit of about IQ per cent., but,
uufortunately, the cash balanoe had invariably been
absorbed through some temporary and accidental circum-
stances. The gain was therefore handed over to them in
paper, redeemable a year or two hence. The plan,
however, although it was thought at first to b 3 all right,
failed upon repetition to satisfy the hunger of the
parties interested; and probably many of our Birming-
ham theorists have received, from experience in this
respect, the first blow to their ideas regarding the nature
and functions of money. At last, in a number of instances,
exposure became unavoidable, examples of deception,
fraud, and repudiation abounded on all sides, and prices
even of the leading undertakings went to a point which
showed that in tha minds of the public, years of economy
and good management would be requisite to restore any of
them to a solid position. Taus far the result had, perhaps,
been little other than might have been expected. It
was the old story of the State loans over again., Any
Honourable member of Congress or Assembly coming
over to England had only to make a demand large
enough, and ha could get all he wanted. He would
go to a leading ironmaster, give a heavy order for
rail., pay about 30 or 40 per cent. above their
value, and trust to this gentlemen for the disposal,
through brokers and others tempted by a noble per cen.
tags, of suck amount of stocks and bonds as might be
deemed appropriate for the moment. The next and each
succeeding year the process might, of course, be repeated,
since the prosperity of the part already constructed rendered
extensions of ad kinds indispensable. But it was to have
beau supposed that experience dearly purchased would at.
length have generated some prudence, Apparently, how-
ever, our people are incurable. The last railway concern
that has broken down is the Michigan Southern, and it is
said that only a few months have elapsed since the Presi—
dent paid a visit to tha English shareholders, and induced
thertr considerably to extend their commitments.
Still, instances or tins nine are as notneng compared
with the wholesale apathy exhibited. Incredible as it may
seem, our 80 millions or more of American securities are
left to take their chance, without the holders. knowing or
learning anything about them except from the managing
parties. The railway companies issue reports only once a
year, usually of the most vague description, and no
accounts of what passes- at their nvoings• transpire.
Everything is taken for granted, and each individual Eng-
lish holder assumes that some other holder, by whom,
perhaps, ha was first led into the investment, keeps careful
watch. And while this total absence of org tnisation pre-
vails in England, there is actually a powerful combination
on the other side for the avowed purpose of bringing
all the principal undertakings to ruin. Unlike those of ;any
other country, the leading. speculators of New York are
devoted to the task of depreciating the national credit.
Whether this arises from the extent to which American
liabilitien are held by foreigners need not be discussed.
large body of active persons aro known to be associated
for the purpose; they infinence the press to work out their
views, and are allog.id, not merely to operate with a joint
capital, but to hold regular meetings, and permanently to
retain legal advisers, whose chi :f vocation it may be
assumed is to discover points that may enable the validity
of each kind of security to be called in question, and
thus to create universal distrust. They are a'so
said to succeed in the vast number of inetances in getting
their own creatures intuthe control of companies, ostensibly
supporting or opposing them, as may best suit their tactics
in each particular case. Each new revelation of fraud is
hailed as a triumph and such directors and shareholders
as may show a diepesition to take adeaetaze of technica—
lities to defeat all equitable claims, icstead of being hooted
from the Exchange,. find a circle of admirers. Of
course, this state of things would end, or ba greatly
mitigated, if the stock and bondholders were to
exercise vigilance. In moot instances the proceedings
are so notorious, and the laxity of the management
so complete and lorg-eontinued that English investors,
if they had any rational agents on the spot, could nu: fail
to be warned. Bat there is no London Committee of
American StoeTholdtre, and appareLty, no possibility of

[By British and Irish Magnetic Telegraph.]

THE BELFAST RIOTS,

DUBLIN. THURSDAI

To-clay the Lord Lieutenant appointed Mr. David
Lynch, Q.C., and Mr. Smyth, Q.O , as commission-
ors to inquire into the BAfast riots.

THE IMPEiIAL MOVEMENTS.

PARIS, THUNSDAY EVERIN G•

The King of Bavaria it is said be at Stull'
gait during the visit of the two Emperors, and afr
cording to some reports the King of Prussia, but
in other quarters it is rumoured. that the Emperor
Napoleon and the King of Prussia will meet At
Darmstadt. These Imperial and Royal move-
ments are at present the only topics of interest on
the continent.

THE AFRICAN MAILS.

PLYMOUTH, THURSDAY MORNING.

forming one. Yet s onething should be done if possible to
remedy the evil. Some persons will say the best remedy
would be found by an avoidance of American investments
altogether ; but thie, although it seems likely enough to
be brought about unless the respectable portion of the
American mercantile oommunly can Contrive to
influence public opinion, is not a result that any one
anxious for the advancement of the best interests of
both countries wou'd wish to see take place. Na RAI for
the employment of capital is superior to that of the Ucited
States ; and the sympathies of business beget a naive's il
disposition hero to Feek it and trust to ir. Under such
circumstances it is deplorable that, owie to a want of
concerted action among the honest portion of the two com-
munities, a depraved minority should command all the
channels of enterprise, and render confilence impossible.

The Gambia arrived here this morning from the
West Coast of Africa, with the mails and a general
cargo, 9.906 ounces of gold, and 13 passengers•
She left Bonny on the sth, Lagos on the 7th, Accra
on the Ilth, Cape Coast on the 12th, Sierra Leone
on the 19th, Bathurst on the 25th, Goree on the
25th of August, Teneriffe on the Ist of September,
and Madeira on the 3rd.
Trade was rather dull at Lagos.
Bathurst was quiet and trade brisk.
At Sic nee Leone the rainy season was: breaking•
Mr. Collett, Qaeenvs advocate, died at Sierre Leona
on the 27th July. The 'Tinto arrived at Sierra
Leone on the 14th August.
The slave trade was very brisk in the Bights 47
Benin. The Tenzer had captured a slaver carf
vying Spanish n)lours, with 230 slaves, off Quittah-
and another saver had been destroyed at Accra'.
The Ship Agnes, of Liverpool..was totally W 1 e2loti
on Bimbay Plats on the 1811 July.
At the Gold Coast things were progressing moat'
satisfactorily under the new governor.
Tne Myrmidon, and Merlin were at Fernando
Po; at Old Calabar,. the Trident : at Ma..icirs., the
Devastation, Terror, Sparrowhawk, and Roebueck•-

REMARKABLE CIRCUNMANCS.—The Berwick Warder
says:—`• On Friday evenilg last, at 6.3 D p.m., the royal
salute fired by the guns in E linbargh Castle, to announce
her Majest)'s arrival at St. Margaret's ststioo, was
distinctly heard at Douse ; the distance, as the crow flies,
being about 36 miles. The sound would require 21 minutes
to travel this distil-Ice.
EXTi,NSIVE ISSUB or FORGED BANK OF ENGLAND NOTES.
—ln f.:rmation has been received at the chief po'ice station,
Scotland-yard, of an extensive issue of spurious notes,
purporting to be of the Bank of England, by a gang of
forgers who hav's?sureeeded in putting off great numbers
in the Easters district of the metropolis and county of
Essex. They are capital imitations of the genuine note,
and are dated, both .£lO and £5 notes, June 18. h, 1857,
No. H.P. 49,037. The forgers sign the name of " Seymour"
to the notes, and represent themselves as, servants.to respect-
able persons who require change.