The Sun.
London, England, 1855-09-26 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, SEPTEMBER 26 1855.

rating of his own achievements. A becoming
modesty may prevent him from taking due credit
for his own triumphs or those of his brave fol-
lowers ; while, on the other hand, he would natu-
rally be disposed to slur :over any failures or de-
ficiencies. We should scarcely expect to see any
British General giving mendacious accounts a /«
),IF—NscinicorF, of matters which could easily and
speedily be detected ; but certainly under the
existing system there are are no means of insuring

veracity or punishing false or exaggerated state-

rnents.

Were there a Secretary " at ?' or "for" War in
attendance in the Crimea, we should have had a com-
plete account of the attack on the Redan and the
causes of its failure—of the subsequent evacuation
of the beleaguered city, and the nominal lists of
killed and wounded transmitted per telegraph more
than a fortnight since. The public anxiety, and
more especially the apprehensions of those who
had friends or relatives engaged in the terrible
conflict, would long since have been alleviated.
Many would have been enabled toparticipate fully
in the national exultation without any reason to
fear that the cup of joy would be rudely cast from
their lips, while the less fortunate, whose fore-
bodings might be but too truly verified, would
at least know the worst, and be saved from those
heart-rending doubts, that are even less tolerable
than the certainty of the greatest calamities.
In the good old times, every Sovereign or Ge-
neral had his bard. It was a salutary rule, and
we trust that the precedent will again be followed.
The system now in operation is alike unfair to the
General and to the community. The former can-
not sufficiently expatiate on his successes, or the
skill by which they were produced, while
his excuses for failure may, and probably
will be, distrusted. The people, on the other
hand, cannot place that implicit reliance on the
account of any event, and of its probable or pos-
sible consequences, that would naturally follow
the statement of an impartial and disinterested
witness, who was narrating the doings of
another for which he was nut himself re-
sponsible, and on which his repektation was not
in any degree dependent. We trust that these
observations may have some effect in producing
the amelioration of a very decided, although a
very easily remedied, evil. At present we have
only to complain of the unnecessary delay,
for Mr. WILLIAM RUSSELL and the limes
have prevented any permanent mischief. We
cannot be certain that we shall always be so
fortunate, or that we shall invariaZbly obtain such
admirable accounts of events--m.ot merely of
national, but of European and undying interest—
which will remain, throughout Lll ages, to pos-
terity as one of the proudest rewords of their
fathers' prowess.

The reports on the intended poilicy of the War
are almost as contradictory as thc)se on the in-
tended ...,
strategyof Generals SimPsoN and PELISSIER.
On Monday we were all down-h(xarted with the
announcement that Sebastopol was to be razed
and the basins filled up. The next day it was
stated that the announcement was probably pre-
mature. At first ammunition, which was in
course of shipment at Marseilles, was stopped, a
day or two after, and we read " that shell and
cartridges are being shipped." Of course nothing
leaks out of the intentions of the Cabinets in any
authentic form. Even the Mon.ilteur, generally
our best informant during the r ecess, is silent.
Somewhat unofficially, though a :Prime Minister
must know that his positive assertions, anywhere,
must pass for authority, Lord PALAERSTONE gives
us his general view of the position.. On the boards
of a railway platform he meets a large number of
farmers, the Premier discourses wi th them, first,
of course, on the price of wheat ;.; the conversa-
tion branched off, as a matter of course, to the
War, when he assured them that the army was in
a most efficient state, the hospitals, such as Lon-
don might envy, and Sebastopol so. far left entire
as to furnish very comfortable wiater quarters for
the Allied troops. He emphatically added, " thaL
they might rest assured that the powei• and pre-
tensions of Russia would be effectually humbled be-
fire tie Allied. Powers would consent to a puce."

If but one adverb in this sentence retain its
place to the last, as an expression of the determi-
nation of the Allies, all England, &lad all Europe
will be satisfied. Russia is now humbled ; that
she should be effectually humbled is the all-im-
portant point. To "raze Sebastopol and to fill
up the basins," which implies giving back the
Crimea to Russia, would be the very opposite of
effectual humbling. Houses cau be rebuilt, rub-
bish cau he cleared out of dockyard basins, and
the provocation would be very effectual, we must
think, to remove the humiliation when we left
the enemy full opportunity to do it. Think
of the Russians filling up any of our
naval dockyards, and then abandoning them
Why, every Englishman would
pay any amount .of income tax till they were
rendered ten times better and more formidable
than before. Can the Allies be so •coolish
as
thus to provoke Russia to make Sebastopol
second Gibraltar, or Valetta, till peace could only
result, in a few 'years, in a hitherto unheard-of
aggrandisement of Russian power in the East 9
As yet we refuse to believe it. Keep the Crimea,
refrain from the barbarism of destroying noble
docks and buildings, put Sebastopol into the
hands of a commercial nation, open it as a free
port to all nations, drive the Russians from all
thee e ports
onamerce with tine world,
of the Sea of Azoff, and leave them to
f
' and we believe a
r c
statethings Would soon arise in the East which
would supersede and repel for ever the uncom-
o sf
upersec
civilised Government of the CZARS.
TmheecTiaaLrthlf
Tartar on the Kuban and north of the
Crimea would soonril -ed re-acquire the character. of
which Russia dep
them,and become flourish-
d vigorous. Our practical
ing, independent, an
and noble Allies, the Circas
sians would develop
the manly capacities
of their nature ; and the
entire adjacent territories of Asia, indeed of the
whole of the Black Sea, would feel the impulse
given to civilszation. Sebastopol is by far the
noblest harbour in the Euxine, and, if diverted
from its infernal and bloody destiny to the peace-
ful
purposes of trade, it might become the .grand
naval mart of the East. This alone would be
an "effectual" humiliation to the power of Russia.
It would be not only casting out the Legion of
Devils, but putting the man clothed and in his
right mind in their place. If we may pursue
such an illustration, the opposite plan would
bring back the seven devils worse than the
former, and the last state of the city would be
worse than the first.

to us.

We need not doubt the intentions of Lord
PALMERSTON himself, but we must be permitted
to more than doubt the evil genius which
has influenced, and will yet influence the
policy of the War. Austria and the Coburn
will not allow Russia to be weakened if
they can help it. And, ignoble and treacherous
as the conduct of the Court of Vienna has been,
and is, some in England—some whose influence

London to give orders in the Euxine is so

clear to every man of common sense that nothing
but a wicked and infatuated subserviency to Aus-
tria and Germany can account for its not being
put in force. The whole ' Euxine, and all its
ports, with the embouchure of the Danube, might
now be secured for ever to honest and commercial
purposes ; and might be placed in hands which
would have no temptation to abuse the possessor
to purposes of conquest. The Principalities might
long ere now—even the Times itself having re-
peatedly demanded it----been placed in the hands
of a Government of their own, under the long-
tried and easy suzerainty of the Porte. But, we
repeat, it is the hateful Austxianism of the main
influence which actuates or fetters our Cabinet
that is the real danger. We cannot too jealously
watch the German influence on the supreme
managers of the War in this country.

We notice with pleasure that the Thanksgiving
Day to be appointed this time is fixed for a Sun-
day, the 30th of Sep,ember. We have so fre-
quently urged the desirableness of choosing the
day on which all Christians meet spontaneously
for worship as the proper day for any special
act of worship, that we can but feel gratified
with this tardy homage to common—we might
rather say Christian sense. The Christian
assemblies who do not need the Archbishop of
CANTERBURY'S aid to prepare a thanksgiving
prayer for them, doubtless offered their thanks-
givings in common as soon as they heard the glad
tidings. It were mere vanity to wish, and mere
tyranny to compel, them to throw away a whole
day, at the bidding of the QUEEN, for what they
have already done from the natural and com-
bined impulse of joyful and devout feelings. No
doubt many of them, however, will renew their
thanksgivings with those of their brethren of
the Established Church. Thankfulness, so that
it be sincere, is no burden, and the whole sub-
ject furnishes a noble theme for the preacher.
Indeed it is one of the recommendations of Sun-
day for these special services that it helps to
vary the monotony of both the sermon and the
prayers, especially if the latter be reasonably
curtailed for the occasion. On a Sunday ser-
-vices which should keep us all awake would of
itself be no small gain.

We must not forget to notice the: blessing to
the poor man of this Sunday Thanksgiving Day.
He will not be compelled now to sacrifice a day's
wages at the present price of bread. This is
one of the most important considerations of all.
To the rich the loss of a day is nothing. To
the poor, in numberless instances, it is a com-
pulsory fast ; and this is a poor preparation for
thanksgiving. We suppose it is too much to
hope that the old form of commanding people to
worship GOD will be given up. - We know the
plea of etiquette. The reply is—Let her MA-
JESTY command any subject into her own pre-
sence ; but who has authorised her to command
him into the presence of his GOD ?

rt'a) 714-41; k‘p
'4lal k•C 0 It
At•W•ti`,' - 4

SUN OFFICE, Six o'Clock.

THE ASSAULT ON
THE REDACT•

An Extraordinary Gazette will be published
late; tonight, containing the whole of the names
of the English troops killed and wounded on the
Bth of September at the attack on the Redan
Battery.

'The loss of the English has been much greater
than was at first reported.
'The total number of killed, wounded, and
mi.s sing amounts to 2,447.
The only fresh intelligence which the Gazette
will contain is some despatches from Admiral Sir
Edmund L y ons, detailing at length the stores
ci.ptured in
thes fortress, amongst which are
several magnificent specimens of steam ma-
chinery, which have not sustained the slightest
injury.

MORNING GENERAL ORDER

HEAD•QUARTERS, SEPT. 14, 1855.

The Commander of the Forces has great pleasure in
iblishing to the troops the following telegraphic mes-
sw.ge, received from the Minister of War :
"LONDON, Wednesday.
"The Queen has received with deep emotion the wel-
et )me intelligence of the fall of Sebastopol, penetrated
ith profound gratitude to the Almighty, who has vouch-
e Jed this triumph to the Allied Army.
" Her Majesty has commanded me to express to your-
s elf, and through you to the army, the pride with which
K he regards this fresh instance of their heroism.
" The Queen congratulates her troops on the trium-
ihant issue of their protracted siege, and thanks them
-ft'or the cheerfulness and fortitude with which they have
encountered its toils, and the valo'ir which has led to its
termination. _

"The Queen deeply laments that this success is not
•without its alloy in the heavy losses which have been
:sustained. And while she rejoices in the victory, htr
:Majesty deeply sympathises with the noble sufferers in
their country's cause.
" You will be pleased to congratulate General Pelis-
; sier, in her Majesty's name, upon the brilliant success of
• the assault on the Malakhoff, which proves the irresis-
tible force, as well as indomitable courage, of our brave
allies. By order.

H. W. BARNAitD, Chief of the Staff.

NEWMARKET RACES.
(THIS DAY.)

(BY ELECTRIC TELEGRAPH)
ST. LEGER
Ilabena
Vandal

Three ran.
HANDICAP SWEEPSTAKES.

Looey
Lord Raglan
Tliree ran.
EIGHTH TRIENNIAL STAKES.
Mary Copp.
Intimidation
Six ran.
SWEEPSTAKES OF 10 SOVS.

Alcyone
Plumpton Maid
Four ran.
FIFTY POUND PLATE.

Black Swan
Triton
SWEEPSTAKES 10 SOVS.
Dead head with Piccaninny and Tadrnore filly. Stakes

divided. Three ran.

LATEST BETTING.
CESAREWITCII.
10 to 1 agst Robgiil (offered)
16 to 1 agst Scythian (taken)
16 to 1 agst King Tom (taken)
20 to 1 agst Boer (taken)

20 to 1 agst Sultan (taken)
SO to 1 agst Neville (taken)

20 to 1 agst Mr. Sykes (taken)
25 to 1 agst Monasque (taken)
25 to 1 agst Siding (taken)
25 to 1 agst Muscovite (offered)

CAMBRIDGESHIRE.
25 to 1 agst Vandyke (taken).
25 to 1 agst Lord Alfred (taken).

DERBY.
66 to 1 agst Aleppo (offered)

3rOiNrE(Y. UARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.

The Liverpool cotton market yesterday closed
tamely and steadily, without th 3 least change in
prices. The sales were 5,000 bales-1,000 for ex-
port, and 1,000 on speculation, comprising 40
Pernam and Maranham, Qd. ; 50 Bahia, G d. ;
180 Eg3ptian, SZ-d. to 6d. ; and 500 Surat, 4d. to
4id. The Railway Share Market was without
feature, at the currency of Monday.

Describing the state of the markets for the prin-
cipal articles of consumption, Messrs. 11. W. Jewes-
bury and Co. observe that—

" The markets for colonial produce during the past
mouth have been very active, and the prices of some of
the leading articles have advanced considerably. The
rise in the bank rate of discount on the 6th inst. from 3
to 4 per cent , and subsequently on the 13th from 4 to 44
percent., with the general expectation that 5 percent, will
shortly be made the minimum rate, has checked the
advance in produce ; and tr,alsactions, except for sugar,
have become more fimited during the last eight or ten
days. The arrivals since our last have been modera'e,
but the deliveries for export and home use continue large,
and the stock of seseral of our chief articles show a
further decrease. Dyes and dyeing materials have been
in ?fair demand. Indigo is firm. Cochineal and
safflower are both dearer. hi other articles there is no
alteration to notice. The late advices from the Conti-
nental produce markets report large transactions at ad-
vanced rates. From the woollen districts the reports
notice a somewhat languid market, but about an aver-
age amount of business has been d.,ne. From the cotton
districts transactions are again reported as limited, and
the tendency of prices is against spinners and manufac-
turers. The demand for looney, since out last, has in-
creased, and during the month the Bank has raised the
rate for discount from 3 to 44 per cent. 'We now quote
first class paper of short date at 4} per cent., other bills
4i to 51, and money on cal 3 to 4 per cent."

It will be a positive relief to every man of busi-
ness if the Bank of England to-morrow puts up
the rate of discount to 5 per cent., the prevalent
uncertainty being far worse than the measure it-
self. We feel persuaded, indeed, that there will
be greater confidence when the interest rules at 5 per
cent. than there is now, because the Bank of Prance i s
stated to be using every exertion to replenish its cof-
fers, and, if it bids more for gold than ourselves, may
succeed in so doing, by means of its credit and by
working on the exchanges, although ultimately
there will be an account of loss to settle, and to
meet the engagements entered into, the precious
metal may have to be returned. In the interim,
however, as was the case some years ago when the
Bank of France assisted the Bank of England, the
money market may have resumed a more even tone,
and the re-adjustment be proportionally less diffi-
cult. At Paris already the fall in securities has been
more than equal to the whole cost of the foreign
grain required between this time and September
next ; but no one can question that certain secu-
rities have ruled a great deal too high there, and
that the check will prove wholesome. Yesterday
is described as having been at Paris the dullest day
yet experienced. The whole subject of our mone-
tary position and policy is of such absorbing inte-
rest that we append some remarks in the last num-
ber of the Bankers' Circular :

" The amount of wealth which is now represented in
this country by securities alone almost surpasses the
powers of belief. First of all there is nearly 800,000,000/.
of public debt, under different forms. To this we may
add about 300,000,000/. iu the shape of railway secu-
rities. The Joint-Stock Banking capitals of the metro-
polis amount to several millions. Then there are the
Insurance, :Cocks, Canals, Water, and Gas Companies,
which may be reckoned in millions sterling. History
affords no such an amount of wealth represented in
floating securities, and saleable in the public markets,
as this country exhibits ; yet it is over this vast expanse
of wealth and industry that the judgment of the cabinet
of the Barge of England extends its power and in-
fluence. Where, then, can, the individual be found
who could overrate the importance of such a question ?
The difference between the course adopted by the Bank
of Franne and the Bank of England, consequent upon a
drain of the precious metals, is singularly striking.
Whilst the Bank of France seeks to supply a sufficient
note circulation on the withdrawal of specie, it is no
less careful in its rates of dieceunt ; the Bank of
England is continually changing both these items,
in order to conform to the principles of an absurd
law. We have only to look back a few months to see
• bow these separate plans have operated upon the money
markets of the two countries. In January, 1854, the
position of the money market consequent upon the state
of the corn market rendered it necessary t- raise the
rates of interest in several of the Continental cites, and
on the 19th of that month the Bank of France raised its
rate of discount from 4 to 5 per cent., but it was re-
duced again to the previous rate on the 11th May
following, at which it has remained until the present
time. But, singularly enough, on the same date that
the Bank of France reduced its rate of discount to 4 per
cent., the Bank of England raised it to 51, and main-
tained it at that rate until the following August, when
it was reduced to 5 per cent., at which rate it stood for
35 weeks ; so that, if we go back to January, 1654, we
I find that the Bank of France has had only tWo rates of
interest during a year and three-quarters' while
there have been eight changes made by the Bank
of England. No arguments, however ingenious, can set
aside the deductions that may be drawn from this com-
parison ; and it forms one of the strongest motives for a
strict enquiry as to which of the two systems is ruo,t
deserving of public support. We think it can scarcely
be doubted that such rapid changes made in the rates of
discount and interest on loans, constituted a very formid-
able evilin our system. But we think it is equally true to
attribute these changesalmost entirely to an artificial scar-
city of legal tender or bank-note circulation, than to any
natural causes in the variations on money capital. It is
a law well understood by political economists that when-
ever a scarcity of capital is found in those establishments
where it generally• accumulates, that an expansion of
credit becomes indispeusible ; but the practice of theßank
ofEngland at such periods is totally opposed to this prinn-
ple, which arises from the fact that there are circumstances
under which it has not the power to do justice to the
public, and at the same time secure the interests of its
own proprietors. These circumstances have occurred
many times in the history of the Bank, and a repetition
of them has once more become apparent. Some of our
contemporaries who have been anxious to show that it
was the paramount duty of the Bank to raise the rate of
discount to 5 per cent. on Thursday, do not appear to
have looked beyond the ordinary character of the money
market, and yet they have not been insensible to the in-
jury that such a step would inflict upon the general
interesti; of trade and commerce, But it remains to be
shown whether, to support the particular interests of
one establishment, it is absolutely necessary to sacrifice
those of all other classes of the community."
The Cinaries Lead Mining Company this day
declared a dividend of 10s. per share for the half-
year. The returns of lead for the six mouths was
32,797/. 6s. 3d., which after the expenditure left a
profit of 6,555/. 3s. 10d.
The Stock Market has been very depressed again
this morning, money being in request, and seereer
among the dealers than in Lombard-street. Whe-
ther this will last is more than we can determine,
but the pressure is aggravated apparently by the
speculation of weak parties now obliged to close
accounts. Consols have been per cent. lower,
viz., 89 to 89,1, for Transfer, and 891 to 89-A for
October. Exchequer Bills are par to 4s. discount.
A further material drop has occurred in Turkish
Bonds, which have been so low as 851 and 86,
though they are now 86. The Scrip is 1 I dis-
count. Nothing calculated to depress them has
arisen beyond the information regarding Egypt, to
which we referred a few days since, and the exces-
sive bull operations now forcibly closed. Other
bonds are quiet. Spanish ruled firm at 193. Gre-
nada Deferred are 61. Mexican are heavy at
21, Peruvian 41 per Cents. at 76, and Dutch
per Cents. at 641.
The following are the nominal prices of . foreign
stocks :—Grenada Deferred Bonds, 18 20 ; Mexi-
can, 2111 ; Peruvian, 75 77 ; ditto, 3 per Cents.,
57 9 ; Portuguese 4 per Cents., 43 5 ; Russian 5
per Cents., 97 9 ; ditto 41 per Cents., 86 8 ;
Spanish New Deferred, 19 ; ditto 3 per Cents.,
374 to 38 ; Ditto Certificates, 4/- A ; Ditto Passive,
4i to 5.
Railway shares opened at a decided reduction in
prices, and although they have since rallied, are
still below yesterday's range. The speculation
having of late been limited, the rates charged for
carrying over although onerous are not so h at it as
they would be. The Foreign lines are very du 1.
Mines are inactive and the Banks fiat. tall Ad.a
Land shares have recovered to 172.

2.5
St.
70

812 e
St.

BRITISH FUNDS THIS DAY.—CLOSING PRICES
(Prom th.c Off List.)
Ausineini done
3 per Cent. Consols Annuities B9i 9
India Stock
Qor.sola for Account, 12th October 894 i
E :chequer Bills, 24d. I • 2d.
121000
EirSOCk
Finial)3 d 1p I 3 d
Exchequer Bonds 1858,.3i per Cent. 994 a
Ditto 1859, ft t•• 99a
PRICE, OF FOREIGN FUNDS THTS DAY.
Milian Bonds, 6 per Cont. ••••• ••• 103 i
Grenada Bonds, Deferred
M.txican 3er Cent.
,'eruvian Bepnds, 4} per Cent ................ 767
Spanii, 80-4,..d5, 3 per Cent 374
Ditto New Deferred, 3 per Cent.
Turkiall Bonds, 6 per cent B6.E i 5
Ditto for the account
Ditto New Seriph 4 per Cent.
i)i VII pn,.11 ~, the above pavnbto in Lenin
Dutch Exchange, 2.i per Cent. 12 Gull 64i
THREE O'CLOCK.
Consols
Ditto for tiv Accoluat...,.. ....... -

20
20
10
10

St.
10
St.
25

10
5
20
18

5
5
20

20
to
20
r

20
20
6.
20

100
100
100
20

20
50
20
25

Paid.'

.1.00
LOO
a 1
L

al 1
100
9
100
21i

20i
100
20

6.11
4
10
4i

1
2
all
13

all
all
2s.
all