The Sun.
London, England, 1853-09-27 00:00:00

DAILY WEATHER TABLE.

TUESDAY, SEPT. 27, 1853.
state of the wind and weather at each of the following
places at nine o'clock yesterday morning. The stations are
arranged in order of latitude.
PORTSMOUTH—N.W., hard wind—partially cloudy.
gOUTILUIPTON- N.W., hard wind—partially cloudy.
FOLKESTONE—W., strong breeze—partially cloudy.
TUNBRIDGE—N., strong breeze—partially cloudy.
GREENWICH—N.W., hard wind—partially cloudy.
STRoOD—Hard wind—partially cloudy.
SWINDON—N.W., strong breeze—partially cloudy.
CAMBRIDGE—N.W., gale—cloudless.
The return from the following place indicates the state
of the weather on Saturday morning at nine o'clock
SOUTHAMPTON—S.W., strong breeze—rain.

HIGH WATER AT LONDON BRIDGE.
Tons DAY —Morning 27 min. after 8 1 Evening 12 min.aft. 9
To-Moaaow —Morning 57 min. after 9 1 Evening 40 min.aft. 10

THE WEATHER.—SUN OFFICE, SEPT. 27.
THERMOMETER, IN THE SHADE.
64—highest since noon yesterday.
45—lowest this morning and during the right.
62—this day at noon.

BAROMETER, 29.29.
WIND, S.W.— Light breeze, and cloudy weather.
The equinoctial gales, which commenced on Saturday,
appear now to have passed away.

~Tj

‘a1,31.

LONDON, TUESDAY, SEPTEMBER 27, 1853.

RUSSIA AND TURKEY.

A second edition of the Morning _Herald con-
tains the following important announcement :
" We are enabled to state, from the best autho-
rity, that the Government, moved fit length by
the unanimous voice of the country, and now
awake to the insidious designs of Russia, have
sent full powers to the British Ambassador at
Constantinople to act more energetically in support
of the Turks. The Government have also dis-
patched a messenger to Vice-Admiral Dundas at
Besika Bay, via Marseilles and Malta, with dis-
patches, informing him of the instructions sent to
Lord de Redcliffe, and enjoining the gallant admi-
ral to be in readiness to attend instantly to any
requisition that the Ambassador may make to him,
to proceed to Constantinople with the entire force
under his command. It is expected that by the
time the Government messenger reaches Admiral
Dundas, the fleet will be under weigh for the Bos-
phorus, and hostilities will have commenced.
"We are further enabled to state that orders
have been sent to Admiral Corry to take the whole
of the fleet under his command, including the divi-
sion of powerful screw ships, and proceed to sea
to-morrow, the 28th instant. We believe a por-
tion of this fleet will proceed northward, and
perhaps another to Gibraltar or Malta. Other
screw line-of-battle ships will be immediately com-
missioned for active service."

The excitement, amounting to a complete panic,
still prevails on the Stock Exchange. Stocks, and
Shares, and Bonds, in short every description
of security and investment, public or private,
have tumbled, and are tumbling, and as yet there
has scarcely been an attempt at a reaction. The
fall on Consols, in a single day, was no less than
2i per cent., while shares in the best established
dividend-paying Companies experienced a similar
or even greater depreciation. Distrust and alarm
were visible on every side. It might have been
supposed by the elongated countenances of the
speculators that a monetary crisis had occurred,
and that
we were on the eve of a National bank-
ba-
ruptcy, or that at least there Was ever
uP d'etat, and
bility of another_f
a Ministerialfinancial y pro
co
the
o
promulgation letter, autho-
rising disregard the Bank of England t
rising the re-
strictions
imposed by the Bank Charter Act, or
possibly to suspend cash payments, and redeem
its promises by further issues of paper, the
Sixteen Millions of Specie still comfortably re_
Posing in its vaults, being required as a peace offering
to alleviate the wrath of the modern " Raw-head
and bloody-bones"—the Northern Bear, and to
induce him to permit our elderly females—we
cannot call them men—to pursue their peaceful
avocations in quietness, and produce com-
fortable broadcloth and fine calicoes for the
delectation of the Calmuck and Tartar
hordes, to whose tender mercies our Isle was
about to be surrendered. Anything or everything
disastrous might have been anticipated from the
rueful looks of those sagacious gicidnunes, who
who deemed that the passage of the Dardanelles
by a few war steamers, although merely for the
purpose of affording protection to the French and I
English residents in the Turkish metropolis, ini,gh
be regarded as the unequivocal signal for the final
setting of the sun of England's glory, and the
downfall of the once potent British Lion.
We should scarcely blame the gentlemen of the
Stock Exchange, the ivrsce •
mtnores of Capel-court,
for making the most of the opportunity. They are
but acting in their vocation and reaping the har-
vest, and a golden one it has already proved. That
they gib,ouid, do eyorythinz to increao the alum,

dred and twenty millions more than the national

debt. This is a pleasing boon, for which we are
chiefly indebted to the Emperor NICHOLAS, and

partly to the proceedings of the Directors of the

Bank of England, aided and assisted by the
timidity and nervousness of our capitalists.
There is one description of security, and one
only, that has escaped the general depreciation. It

is right that attention should be called to the fact
that Bank of England Stock maintains the same
price now that it did in April, the price then being
225, the present quotation 224 6. This simple

circumstance speaks trumpet-tongued as to the

nature of the tactics carried on by the Directors.
They have schemed and manoeuvred to improve
their own dividends at the expense of the com-
munity, entailing losses to the extent of many
hundreds of pounds sterling for every 20s. profit
gained for the proprietors. We cannot suppose
that they could have believed that the results of

their operations would have been so very disastrous.
But they evoked the spirit which they are now

unable to subdue. They sowed the whirlwind,
and they are icaping the storm. Let, them now

reflect on the deplorable consequences of their

proceedings. Let them not be misled by the ful-
some panegyrics of contemptible toadies, who

applaud their prudence and foresight (GOD save the
mark), and think their sole object should be to

paralyse the efforts of industry.

They have

nearly as much to answer for as NICHOLAS

himself in producing the present crisis, and
if we take measures to blunt the fangs
and pare the claws of the great Bear, we must
also prevent the Directors from obtaining powers
the reckless abuse whereof has led to such disas-
trous consequences.

One word, before we conclude, to legitimate
and bona fide holders of stocks and. shares. Let

them abstain from sacrificing their property at
present prices. Let them refuse to play the game
of their opponents, but hold on steadily. They
will find that there will be a speedy reaction, and
that they will have ample cause for rejoicing if
they pursue the course we recommend, and avoid
the pit dug for their reception.

The ancient world signalised its greatness chiefly
in monuments of vast size, and sometimes durabi-
lity. The extent of Nineveh and the colossal
structures of Egypt still strike us with wonder ;
Grecian civilisation left us models of beauty which
are, and ever will be, the adoration of every man
of taste ; Rome adorned her naturally utilitarian
labours with the elegance of Grecian conceptions ;
the Middle Ages gave us ecclesiastical models
which, from their own point of view, can hardly
be surpassed ; but the present age, which in all
these things is little more than a copyist of the
past, has at least given the world one thing—it
is commonly termed a mechanical age, and one of
its chief historical characteristics will assuredly be
an unheard-of development of mechanical power.
Its most vast conceptions begin with the steam-
boiler. To facilitate the creation of steam, to
husband its strength, to adapt it to machinery
which shall waste as little as may be of its giant
power, to level or bore through hills, to fill up
valleys, to build monster bridges, all to give free
course to this great monarch of the age, is the
great task of our day. Almost all our monster
works by sea or by land are built in homage to
the great moving power. Monster viaducts, mon-
ster embankments, monster iron bridges, monster
Ships, double the size of a great man-of-war, are all
but implements for the service of the monster
Power, which seems adequate to move the very
world itself, if any one would find it the standing
place desired by Archimedes.
We recorded but the other day one of its latest
a mounter and a model factory. A beau-
triumphs,
tiful building in the spot where, ascending the
Aire, its romantic scenery commences; a building
whose area of ground is not less than six acres, and
its area of flooring 111 acres, the mill itself 550
feet long,and 72 feet high; looms to the number
of 4
The shafting of the machinery, which
200.
moves them, nearly two miles in length, and GOO
or 700 tons in
weight ; capable of producing 18
miles aav
aolfidl:ea therefore,'l t. beautiful fabric,
o f weaving or 5,688 miles
annum,per
a girdle
for the globe in
haenfaoguerdyeain the
years ; a
population of 1 ,
le
OtOr Oilm
persons oret
engaged
requirements of the great agent. Such are the
various processes—servants and handmaids to the
last tribute to the
aplrmonoisitn tf: in
thisillimitableeature
power of the steam-
engine--a
power, in this case, estimated as equal to that of
1,200 horses.
Mr. SALT, the spirited and generousproprietor
of the whole, gave a splendid dinner at
very open-
ing its
on the 20th. He was amongst thefirst,
we believe, to introduce the manufacture of al-
paolias into Bradford, and realised a splendid for-

and to terrify legitimate holders, was exceedingly
natural, and might have been anticipated without
any extraordinary degree of foresight, or pretended
powers of vaticination. But that bona fide capi-
talists, stout country gentlemen, sturdy yeomen,
and comfortable retired tradesmen, who only
looked to the security of the dividends, and would
not think of disturbing their investment even for
the purpose of realising a considerable premium,
should participate in the panic, and lend their
aid to enhance the difficulties of the emergency,
has, we confess, both pained and astonished us.
But, then, they were frantic with terror, and
pressing their stock upon the market for unre-
served sale. The energetic efforts of stronger-
minded and more patriotic individuals to support
prices and prevent the accounts so humiliating to
the national character from being borne to the
AUTOCRAT, the terror of whose name had pro-
duced such calamitous results, were thus
neutralised. The partial improvement that had
been effected for a short time was com-
pletely set aside, and Consols closed at 914
a deterioration of more than nine per cent. within
four months, while Shares were again lower, the
London and. North Western being below par, and
other less favourite lines at heavy discounts ! !
To understand the full extent of this general
deterioration of property of every description—a
deterioration unparalleled within any similar time
—we shall simply refer to the quotations of scrme of
the leading Stocks, and Shares, and Securities on
a day taken at random from our files in the month
of April, and compare them with present prices.
The 3 per Cent. Consols were, on the Bth of
April, 100 k I. On the 26th of September they
were 91-g- 1, a fall of 9 per cent, in the capital
value ; and yet, on the former period there was a
great probability of a reduction of interest from
3t0210r 2i per cent. East India Stock was then
2761. It is now 240. East India Bonds were
48 premium. They are now 10s. discount to par.
London and North-Western Railway Stock was
then 121 to 121/. It is now 99 to 100—
a fall of 21 per cent. Great Western,
was then 991 3, it is now 78 9 ; South-Western
911 21, it is now 72 74 ; South-Eastern then
76i 7, now 57 8 ; Eastern Counties then 13i 1,
now 111 ; Great Northern 83 4, now 69 70 ;
Midland then 751 761, now 55 6 ; York and
North Midland then 60 61, now 42 44 ; and
York and Berwick 69 70, now 56 58. But why
multiply examples ? Everything shows that the
fall in railway shares has been from 20 to 30, or,
in some instances, nearly 40 per cent. ; and we
believe that the general depreciation on the accu-
mulated and realised property of the country
has been, on an average, 15 per cent. ; or
assuming that realised property, according to the
general estimate, at six thousand millions, a loss
of nine hundred millions sterling, or one hun-

tune thereby ; he abides by the manufacture to
which he is so much indebted, and by the work-
men to whom he has always been one of the most
liberal of masters ; and commemorating, at this
dinner, his own arrival at his fiftieth year,
he commemorates also his 'Son's attaining his
majority, and pledges, as it were, his family's
adherence to their father's course. One of the
pleasing arrangements, which we are certain will
be carried out to the letter, is that the new town
which he will build to accommodate his vast num-
ber of workmen, will include every possible de-
vice for cottage cleanliness and comfort, and
everything needful for their intellectual and re-
ligious improvement. Our landed aristocracy
may learn something here. At the dinner, to
which 3,200 persons sat down, 2,500 of them
Mr. SALT'S operatives, we observe that the Earl
of HAREWOOD and other notables of the West Riding
were present. They will carry home some valuable
instruction, as well as a lasting recollection
of the noble-mindedness of the lord of the feast.
They will meditate plans for improving and ele-
vating the peasantry on their own estates—they
will learn to disbelieve (if they ever believed it)
the vulgar rant about the hard-heartedness of
manufacturers as a class, and will perceive that
the best feelings of feudal generosity are compat-
ible with manufacturing pursuits, and with the
independence enjoyed by manufacturing opera-
tives. Mr. SALT will at once create a town far
larger than half the condemned boroughs which
return a member or two to the Imperial Legisla-
ture, and with ten times the intelligence of a
Thetford or an Arundel. It may almost be num-
bered amongst the triumphs of steam that it can
create Parliamentary boroughs in a year or two,
or at least towns which consign scores of those
boroughs to positive insignificance.
If it is pleasant to see that this wonder-working
power can bring landlords and mill-owners into
social intercourse, honourable to both sides, it is
not less remarkable that it bids fair ere long to
merge the two great classes in the one class of
manufacturers. In one aspect it is exalting the
present manufacturers to a level with the lords of
the soil—in the other it is converting the
landlords themselves into master manufac

urers, and their farms into manufactories.
The day after Mr. SALT'S princely fête, Mr.
MECHI was the invited guest of the Hefts Agricul-
tural Association. An Earl, and a Baron, and
so forth, were assembled, in expectation of the
speech of the day from a London tradesman ; one
who had made an irruption from the counter
(with wealth amassed there) into the broad acres
of the territorial aristocracy. Nor did the guest
disappoint the nobility and squires who had invited
him, and invited him evidently to stimulate their
own tenants. He dealt out wholesome suggestions
to landlords with large estates complaining of want
of capital to improve, honestly advising them to
sell part of their land, and improve the rest with
the money. He rebuked tenants, who, clinging
to the old ways, grudged the landlord a fair inte-
rest for the money he laid out, but the burden of
his speech was Steam. The amount of steam
power in any agricultural district he took as the
test of its condition. People thought him crazy
when he first put up a steam engine ; but now,
two makers in the village had more than they
could do to supply the neighbourhood fast enough.
Lincolnshire and Norfolk farmers have, some of
them one, two, and even three engines on a farm !
Herts had but made a beginning ; he was sure
they would soon get deeper into it. But the
grand agricultural achievement of steam is yet to
come. Its advent is nigh. Mr. MECHI is now
building the engine, at a cost of 2001., which is to
plough the land, and to do almost everything else
besides. A Canadian engineer, neglected in his
own province, is working at Tiptree, under Mr.
MECIII'S patronage ; soon the implement is to be
ready which is to revolutionise British agri-
culture, to enable farmers to plough twelve inches
deep instead of five inches, and to benefit agri-
culture to the tune of ten millions of pounds per
annum ! What are all the Budgets of rival
Chancellors of the Exchequer to this ? His guests,
the gentlemen of the top-boots and gaiters at least,
were withheld, either by utter blank astonishment,
or by not having heard so much Latin, from ex-
claiming Cred at Juda,us A pella ! However, the
sober truth remains, that we have now farms in
which steam does all the fixed machinery work,
that such farms are increasing in number, and
that machinery of every kind is so rapidly ex-
tending that the farm is fast assimilating to the
manufactory ; and that the farmer and his labour-
ers bid fair in another generation to equal in in.
telligence their brethren of the towns.