The Sun.
London, England, 1862-11-21 00:00:00

.

_,

BER OF,COMMERCE.

the Governor-General of India.

PRICK.... - ..4d.
STAMPED ....sd.

from 75,000 to 80,000 bales. This is certainly by no
means a large stock. At the same time advices from
Rewah and Central India generally represent that a
very great- increase in the breadth of land under
cotton cultivation has taken place, and that the crop
about to be gathered vastly exceeds even those
raised in the palmiest cotton drys of India. The ex-
port of this article continues undiminished, and this
state of things will continue for some time longer,
as large arrivals daily come in to Calcutta, and even
so much as £5 ss. hes been paid for freight to
Liverpool. There has been a considerable quantity
of linseed tied rice shipped during the past week,
and jute also is very brisk, caused doubtless by the
enhanced value of the article in the home market.
In other commodities there le a considerable falling
off. Money is daily increasing in value spite of the
relief given to the market by the bills drawn by
the Secretary of State for India on the Calcutta
Treasury, which have just put 45 lacs of rupees
into circulation. There is not the slightest room
for doubt as to the sound policy of Mr. Laing's mea-
sure of placing all the Treasury business of the
country in the management of the Presidency banks,
or that from the increased facilities thereby given
for moving about money from place to place wher-
ever produce is to be brought the trade of the coun-
try will be immensely developed, tending more
than anything 'else to humanise and civilise that
vast portion of the inhabitants of India who have
hitherto been but rarely brought into contact with
the British merchants. The usurious rates demanded
by the shroffs and native bankers absolutely put a
stop to any activity in the internal trade of the
country, so that in a great measure the Calcutta
merchant was at the mercy of the natives for the
commodities he required to ship. However, the
first innovation and great blow to the native system
has taken place. By the facilities offered by the
branches of the Bank of Bengal, the merchants of
Calcutta are enabled to place funds at the disposal
of their agents in Dacca, Patna, Mirzapore, and
Benares with the greatest ease. Cotton, jute—in
fact, every article of export, will now shortly be
purchased direct from the grower, and be brought
down in quantities, unadultered and of good qua-
lity, for the home markets. Moreover, from every
place where the branches have been established
most favourable reports of the working of the
Treasury under the new regime have been
received, so that Sir Charles Wood will
not find many supporters in his unfair tired unwar-
rantable attack on every act of cur late Finance
Minister.

" As a natural consequence of the increased value
of money, the Government funds have receded in
price. No change has been made in the rate by the
Bank of Bengal, but both in Bombay and Madras
the market is very tight, and we should not be taken
by surprise were some advance to be established at
the next meeting of the board of directors.
" Exchange is firm, and has advanced slightly.
Bank bills may be quoted 2s. Odd. to 2s. Old. ; first-
class credits, 2s. Old. ; and documents 2s. 15-18 d.
to 2s. Id.. The market also, as is usual at this pe-
riod of the year, shows symptoms of a farther ad-
vance,"

THE BOMBAY MAKKET.
(From the Bombay Gazette 01 Oct. 27-)
Our import market has remained steady, but with limited
movements, and during the latter part of the fortnight busi-
ness was entirely suspended owing to the Dewallee holi-
days. However, on the termination of the holidays, about
three days ago, a change was noticeable in our piece goods
market. Some of the importers became anxious to realise,
as the season has opened, and consequently considerable
transactions have taken place during the last two or three
days, at about former prices, which in almost all cases are
fully maintained. Twist has continued in languid inquiry.
Metals are in limited request at former rates.

In the produce market a moderate business only has been
done. Cotton continues firm, and prices, which were falling
during the earlier part of the fortnight, have latterly gone
up again. In seeds there is nothing doing, and prices are
somewhat in favour of buyers.

Money continues in good demand, and the Bank's rates
of discount are unchanged.
(LATEST BY ELECTRIC TELEGRAPH.)
CALCUTTA, OCT. 24, 4 5S r.m.

Government paper, 4 per cent., 5/r to Gil- discount; 5
per cent., 4r 2a to 4r 6a premium ; 51 per cent., Hr 12a to
12r premium.
Exchange on London, first-class credits, 2s 0/d.
Freights to London, dead weight, 60s to 655; jute and
cotton, 100 s ; seeds, 100 s nominal.
Gray shirtings, 14 by 13, 71b, 40in, 6r 12a per piece.
Madapollams, 13 by 11, 31b, 32in, 3r per piece.
Mule twist, No. 40, good seconds, 8a per morah.
Market for piece goods firm.
Market for twist very firm.
MADRAS, Oar. 23, 12.25 P.M.

Securities—Five-and-a-Half, 11,1 prem.; Fives, 4i prem.;
Fours, 7i dis. ; Document Bills, .2s ; freights, dead
weight, 20s; cotton, 62s 6d to 65s ; indigo, 755; skins, 70s;
interest on loans, 6 per cent. Money-market very easy ; 40
inches gray shirtings 71b, 7r ; No. 40 mule twist, good
seconds, per bundle Gr 2a.

MR. LAING AND 7HE MADRAS CHAM-

W e have been requested to publish the following
correspondence:—

' To Mr. Samuel Laing, late Member of the Council of

" Chamber of Commerce, Madras, Oct. 1.

" Sir,—When lately performing the pleasing duty of
welcoming your return to the sphere of your labours in
India, it was not anticipated by the Chamber that the occa-
sion of your retirement from office would so early have
called for the expression of its deep regret at the loss which
this country and the British empire has sustained by your
sudden withdrawal from the post that you have so ably filled.

- " It is not our desire to comment upon the circumstances
that have led to your retirement, but we cannot but express
the deepest regret at that which has rendered it impossible
for you longer to confer on India the benefit of your per-
sonal services in this country.

" It is precisely at this moment, when you have been com-
pelled to withdraw from active duties here that your pre-
sence was most needed, in order that, the finances being
placed on a firm and abiding basis, the vast benefits to re-
sult therefrom might be poured forth on the land. Already
do we find a check to our onward progress in the reversal
of your proposed measures for the extension of public works
and of education, as also in the material changes made in
the late Lord Canning's great measure, that of the Waste
Lands' Rules. With these as indices to what may be looked
for in the future, we see with sorrow and apprehension that
the progressive policy which has wrought so much among
us, and which India hitherto has not knows,
come a thing to be hoped for, but not yet to be enjoyed.
has again be-
mid° any points in
" The unanimous opinion of all India, in which this
Chamber cordially joins, is that, setting
your Budget on which opinions may
gress which warted in
that shown of prosperity and pro and do differ, there was
the fullest manner the remissions eft axidi°llas
allbodyte reeefxetened-
sion of outlay under the two iraportazit heatd
mosiotnimofm publicrr
ediate
to—public works and education. The ea
works is so well known in India as an al
even had there been an
proposals under
unfavourable state of the finaiTeay your
idered wise and statesman-
source of increased revenue that,
this head could not but be cons

like.
stronger tie
" le for the India of the future the blessings of edu-
cation are abundantly recognised, as one of the chief means
of securing to the people the continued enjoyment of that
prosperity which it is sought to bring about, and of binding
and her Indian empire by
together s
than those of conquests.
England
t, in looking to the future wo feel assured that your close
association with this country, and the high part which you
have taken in the work of her restored prospen •
ty, will ever
give her interests a first place in your thoughts and secure
fur her the benefits of your influence and experience. We
touch upon no particular points of policy, as it would be
beyond the purpose of the present address,
our hope that the future will not but we express
again
lament in the present, and that see that which we
the great importance of
maintaining the dignity of the Indian
again be lost sight of in England.
" In taking leave of
on in your official capacity we d©
so with sentiments of the
greatest respect and esteem, and
with the expression of the high appreciation in which your
services to India are
universally held, and which in a com-
paratively short space of time have produced results which
the most sanguine
their ultimate
cons:
could not have hoped for, anti which in
quences carry with them the prosperity
of the British em
pi I re. have the honour to be, Sir, your
most obedient servant, _

*„ g. CRAKE, Acting Chairman."

" Malvern, Nov. 17.
" Sir,—l beg that you will convey to the Chamber of
Commerce of Madras my best thanks for their address.
"It is alike gratifying to myself personally, and useful for

/ ""7--- _ _ - -
7 z-:"-177"
~. , -„,....-_—_-, 1,,,,m,
i-z't- - - --ik%s*\•-4-\
the cause of good government in India, to be aftig2sis.. 4441,75rk5. Vr.t,,,-1
the expression of public opinion there in favour oirtie;;3oo4g 74-> ••13111-v-j )
sures and policy of the concluding period of Lord 4-.`Atiatit' -:-..4.;.;5.1 41:7
administration is not confined to any one Presiden -41.5:1!...,,
.Pt
as decided at Madras as .t Calcutta; and that, as egiiilt-A-t„.l„di>.,/,
the ' unanimous opiniat
the financial measures of the last Budget more especift, a S
of all India' considers them at the
same time safe and prudent, As judged by results, and bene-
ficial for the interests of all chose: of the empire.
" Having recently on several occasion
s expressed at length
my views as to the policy and conditions Of
good govern-
ment in India, I shall not now detain you by
any further
exposition of them than to say that I cordially agree with
you that the restored state of Indian finance ought to be
considered merely as a means towards an end, and that no
efforts should be spared to maintain economy in expendi-
ture in order to have a still larger surplus applicable to the
construction of public works, the promotion of education, and
the remission of obnoxious taxes. I may add this also, that
while desiring to avoid all comment ou the causes which
led to my resignation, I am not without hope that the some-
what unusual circumstances attending it may, have been of
some use in drawing Wale attention to the difficult ques-
tion of the theory and practice of Indian government, and of
the proper relations between the-Governments in India and
the controlling power in England.
" Of this at host I feel assured, that a variety of ercum -
stances have recently shown England that her interests are
closely bound up m ith those of India, and that a public
opinion is fast growing up here which will be a great
security against hasty interference by any remote author ity
with measures adopted, after full consideration on the spot,
by the Governor-General in Council, and ratified by the
approval of intelligent men of all races and classes in India.
"Let the expression of public opinion in India be en-
lightened and moderate, and it will not fail to find an echo
in England which will snake it difficult for any Minister to
oppose a progressive policy, and to censure or reverse
measures in which England as well as India has the deepest
interest.
you" I
refer cannot
as
opening
pbeuntinhope,
t such therefore,m agnthiafitc theent
pproolsi
pc yto which
e cis
for the
future of India has been checked only, and not reversed,
and that it has not altogether become, as you apprehend,
' a thing again to be hoped for, but not yet to be enjoyed.
" Much will depend on the course taken by the represen-
tatives of the commercial and manufacturing interests here
in the ensuing Session of Parliament; but I fancy that I can
already see symptoms that the policy of lowering the dignity
and independence of the Indian Government, and of arrest-
ing the extension of roads and education, and the cultiva-
tion of waste lands by independent European capital and
enterprise, is not likely to be persisted in.
"Of one thing you may be assured—that, whether in or
out of office, no efforts of mine shall be t' wan mg, so far as
health and means will permit, to forward the interests of '
the great Indian empire, with the .91fiernment of which,
under Lord Canning, it is my good fortune to have been '
associated in measures which 'I believe will not be without
influence on its future destinies.
" I have the honour to be, Sir, your most obedient servant,
" W, H. Crake, Esq." "S. Limo.

IHE NAVY.

VALETTA, Nov. 15.—The naval Commander-in-
Chief has returned to Malta, and should nothing
occur to render an alteration in the present arrange-
ments necessary or desirable, he will remain here
during the winter months. The Marlborough, 131,
Capt. W. H. Stewart, C.B. (carrying Vice-Admiral
Sir W. Martin's flag), came in on the 10th inst.
from the Pirmus, where she left on the 7th the
Queen, 76, Capt. F. C. Hillyar ; tho Pelican, 17,
Com. P. Brock ; and the Foxhound, 4, Pelican
the
Hon. A. C. Hobart. The Shannon, 50, Capt. 0.
Jones, was at Patras ; the Icarus, 11, Com. Sahilon,
V.C., at Santa Maura ; and the Soylla, 22, Capt.
R. Lambert, at Corfu. The Liffey, 51, Capt. Gee.
Parker, which arrived on the 14th inst. from Gib-
raltar, will leave in a few days, after making good
some trifling defects, for Corfu, and the Chanticleer,
17, Commander S. Sterling, will probably proceed
for the same destine:.ion shortly, when some slight
repairs which are now being made to her are com-
pleted. This latter vessel arrx?ed from England on
the same day as the Liffey. The Edgar, 86, Capt.
the Hon. F. A. Foley (bearing the flog of Rear-Ad-
miral S. C. Dacres, C. 8.), will atio leave in a few
days for Corfu. The Firebrand. 6, Commander Piers, -
arrived on the 11th inst. frcin Beyrout in SIX days,
her departure having been rendered necessary by
the great number of sick on board, which have since
been removed to the Bighi Hospital. The Malacca,
17, Capt. G. J. Napier, is under orddra.to leave on
Tuesday next, to relieve the Mars, 80,rCapt. J. N.
Strange, at Beyrout, which vessel is to proceed to
England, calling at Malta, to be paid off. The Lon-
don, 86, Capt. H. Chads, at Naples, and the Gannet
11, Commander the Hori, M. Nelson, at Co4stanti-
nople, are also under orders for home, as well as the
Doris, Scylla, and Icarus. The PRycht, new despatch
vessel, Lieut.-Coin. Sterne, which kit England on
the Bth inst. for service in the Mediterranean, will
proceed to Marseilles to embark Lady Elgin for
conveyance to Alexandria, her ladyship being about
to join her husband the Viceroy of India, at Cal-
cutta. Brigadier-General Bates and Dr. Arm-
strong, M.D., F.R.C.P., deputy•inspector of the
Naval Hospital, returned last week from England
by the Euxine from Marseilles. A serious acccident
occurred on the 10th inst. to Mr. Byng, midship-
man, of the Marlborough. While out riding he
was thrown from the horse, causing concussion of
the brain. He was carried on board insensible, and
thence conveyed to the Naval Hospital, and fears
were at first entertained for his recovery. His
friends will be glad to learn that he is now improv-

ing.
The Hero, 80, screw steamship, Capt. A. W.
Ryder, was taken into the basin at Sheerness on
Wednesday, to be dismasted, preparatory to being
..a Novem bet' 22. The vessel
will be taken into dock to be overhauled to ascer-
tain the leakage ; she wilt th.a La fdaood in the
third division of the Sheerness steam reserve.
The Geyser, 5, paddlewheel steam sloop, Com-
mander Colin A. Campbell, arrived at Sheerness
from Devonport,with supernumeraries for the port.
The Geyser will remain at Sheerness till after the
Hero is paid off, when she will take the seamen
and marines who belong to the western ports to
their destination.
Commodore Yelverton, C. 8., Controller of the
Coast-guard, arrived at Falmouth, and officially
visited the Russell, 60, Capt. Hale, C. 8., on Wed-
nesday, where he was received with the salute due
to his rank.

Monsieur A. Lovey and Herr C. A. Feiling,
Senior Professors of French and German at the
Royal Military Academy at Woolwich, have been
appointed by command of her Majesty, tutors in
ordinary to his Royal Highness Prince Arthur, to
attend at the Prince's residence, the Ranger's-house
at Blackheath, on Mondays and Thursdays
weekly.
The following appointments were made yesterday
at the Admiralty:—Charles S. Giles, paymaster,
to the Warrior; George Grant, paymaster, to the
Emerald; John F. Channon, engineer, to the Indus,
for the Ferret ; William White, second-class assist...
engineer, to the Cumberland, as supernumerary ;
Dr. Maxwell Rodgers, assist.-surg., additional, to
net
ot
hEt
ehdesi nucbt g,btheorb;l
Cumberland;
nAs
de lef;rreeatdna
rdyP,C
the Royal Adelaide; Edmund M. Russell, assist.-
p
:Pea
.sysi assist.-paymaster, -
Skinner,
p nt ae
eyr
rn:cat
clerk
t re
kt rhi,
.13 ho
aCI
erorl xeks,

GREAT FIRE AT GRANTHAM.—On Wednesday
morning a most destructive fire occurred at the Grantham
Exchange, the entire building, as well as a reeving diorama
belonging
to M. Gompertz (which was exhibiting there at
the time, and valued at £2,000), being entirely destroyed.
When the exhibition closed on Tuesday evening all was
safe, but the next morning, about half-past 2, as Police-
constable Morris was passing along Swinegate, he perceived
a column of smoke issuing from the building.- He at once
gave an alarm, and in a very short time afterwards the
flames burst forth from the ventilator at the top of the
edifice. A quantity of hose was procured as speedily as
possible and attached to hydrants, but the supply of water
was soon exhausted and the fire spread rapidly. A chain of
helpers was then arranged to the conduit in the market-
place, whence water was passed in buckets to the engines
near the scene of the conflagration. By 5 o'clock the flames
were pretty well got under, but the firemen continued play-
ing on the smouldering ruins until nearly 8 o'clock. The
damage sustained is estimated at £3,003. The building was
insured in the Midland Counties Fire-office. The origin of
the fire is not known.
[ADvEnnsEmENT.]—Holloway's Ointment and riiis.-7,
Universal Patronage.—Let all sufferers from gielatrua:
or local disease take heart and follow in the wage of
use of
sands who ascribe their restoration to health
rraratemepins'ployment of
the muscles or
these noble remedies. Rheumatism and spas-
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twitches, gouty
depart neuralgicunder
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pa
pr e aro tp.
cutaneous
ulcers, sores,
plßess? legs, all kinds of
best mot and uickest
mations, and drorigelL,.s=ent, which happily combines
conquered by (I;_icefiiimacy. The reputation Holloway'
saorress,Obinurtninse,nwtoanundutiilif!mare
harmlessness wit!' have acquired throughout the habit!
of relief or abandoning hope.
Ointment and
,_ouid induce every afflicted person to give them
able globe Si. •
a trial before deaPsi
Pills
ring