The Sun.
London, England, 1847-03-05 00:00:00

THE PUNJAUB.

Nothing worthy of special notice has reached us for nearly
four weeks from the Punjaub—the treaty published in our
issue of the Ist of January being the latest we have received
in reference to matters past. Some information of im-
portance, which may, we believe, be fully relied on, has
reached us in reference to the prospective purposes of the
Governor-General. The most notable of these is the almost
immediate reduction of the army by no less than 25,000
men. The strength of each native regiment is to be dimi-
nished from 1,000 to 800 privates; the European and native
officers remaining as at present ; recruiting to be suspended
till the proposed reduction is accomplished by death or re-
tirement. This will take from the army of Bengal 15,000,
and from those of Madras and Bombay about 10,000. The
saving to the revenue effected by this will amount to betwixt
300,000/. and 400,0001. a year. Previous to 1838 the Indian
army amounted to about 180,000, the cost of which fell little
under 10,000,000/. sterling ; betwixt this and 1841 Lord
Auckland increased it by 50,826. It Was thus main-

disaster, when in January,
men to each company,
to 15,000 men, was
reduced by Lord Ellen-
borough 1843 ; and in like manner once more increased
by him, in consequence of the exigencies in Sinde,
in 1844. The reason should be remembered—it was set
forth in the general order ; yet, in the face of this, it has
been denied that any addition was requisite for the mulatto
nance of Young Egypt ! At this moment we have some
60,000 more men on the muster-roll than before the Affghan
war began. In 1838, and for some years previous, the re-
venues of India exceeded the expenditure by above
1,000,0001. sterling annually ; since 1841, the balance of
expenditure over income has been about the same sum ; and
so would it under the warlike system have continued until
no more money could be raieed at any interest on our se-
curities. The quarter of a million provided by the Lahore
contribution, added to the saving already named, will
I oved our balance-sheet by more than half a million; which,
added to the free return of the Jullundur Doab, will afford
nearly a million a year to meet so much of our deficits. The
noble provision thus produced by the much-reprobated
cllp lete, Generalnable above left
8 tends ,
policy of Lord Hardinge enables him to begin in earnest the
peace improvements heretofore only talked of. The con-
struction of the Ganges Canal was sanctioned by the Court
of Directors in 1841, when the warlike dispositions of their
Governors.o
0 f availableac
acres,
sr d onmo
west inc
euasresl
57.
It was computed to cost, when originally estimated, 2A),0001.
000
--it subsequentlyrose lo near a million ; and will, when
barren, to be brought into cultivation, and relieve above
2,000,000 of human beings from the visitations of famine
to which they have hitherto been periodically subjected.
On this stupendous work, on which 20,000/. a year has
hitherto been grudgingly expended, it has been de-
termined to bestow 250,0001. a year, so that in four years
from the present time it will probably be complete. A
survey of a canal, extending ninety miles from the Sutlej
into the Bhuttee country, is now in progress; and active
operations will in all likelihood follow the survey, should
the peace policy of Lord Hardinge be left uninterrupted.
Then may we look for monuments of our rule comparable in
splendour to those of the Mabomedan Emperors, should the
sword be permitted to sleep in its scabbard ; foreign con-
quests reduce us to beggary, with boundless regions of un-
imaginable fertility within our borders to subdue. The
formal annexation of the Punjaub to our dominions would
have compelled us to add thirty regiments to our army, and
a million to an expenditure already by this much exceeding
our income. The other tidings from beyond the Sutlej re-
late merely to the movements of troops. On the 4th of
January, her Majesty's 80th Foot and the 60th Native In-
fantry quitted Lahore, and were followed on the sth by the
12th and 45th Native Infantry. Her Majesty's 10th, with
the 7th, 32d, 38th, 51st, and 54th Native Infantry, have
taken up their quarters in the city. Major-General Sir John
Littler has been complimented in the highest terms by the
avide.nce of the estimation

in which he is held, appointed to the command of all the
troops beyond the Sutlej. Yet this is the man who has been
deprived of the rewards he is allowed to have deserved, and
on whose fair fame an imputation has been permitted to rest
—its recal in public having been refused publication by the
Commander-in-Chief. These, of a truth, are no hero's deeds!
The Governor-General gave a grand entertainment on the
7th, to the officers of the garrison, on which occasion he
spoke as follows :
" I will now propose the health of Sirdars Tej Singh.
Dewan Deena Nath, Shore Singh, and other Sirdars whose
names I do not know; in that I propose the Council of Re-
gency, more particularly Tej Singh, the commander-in-
chief, who displayed such energy and vigour in his late
movement towards Cashmere.' After due honour had been.
done to the council, the Governor-General again rose an.
spoke as follows I beg leave, gentlemen, to propose the
health of a distinguished officer, Major-General Sir John
Littler, K.C.8., and I am convinced that you will unite most
cordially with me in drinking the health of so gallant a sol-
dier. I cannot forbear, on the present occasion, enumerating
the eminent services of Sir John Littler during our late
campaign on the banks of the Sutlej, against a formidable
and gallant enemy. I beg more particularly to notice the
high opinion I entertain of Sir John Littler's abilities as a
commander, as shown in his admirable defence of Feroze-
pore. By the most judicious and bold manoeuvres, when
threatened by a numerous army and powerful artillery, and
thrown entirely upon his own resources, he succeeded in
holding Ferozepore, and by showing such a bold front with
his handful of men against the whole Seikh army, be effeo.
tually deterred the enemy from his threatened attack. After
this, he most skilfully, with 5,000 men and twenty guns,
effected a junction with the main army under Lord Gough.
On the departure of the British army from Lahore, finding
it necessary- to leave a garrison of our troops in that city, I
selected Sir John Littler for this most important and re-
sponsible command. The appointment was at once accepted
by the Major-General, and I have only to point out the
high state of discipline which has been maintained
in Lahore, as well as the quiet and peaceable
behaviour of the inhabitants, to prove that my se-
lection of Sir John Littler was a most fit one. No one
is more aware than myself of the great difficulty attending
the occupation by our troops in a foreign capital—a fortified
city ; but I am proud to say that under the able and judicious
management of Sir John Littler all these difficulties weremet
and overcome. I attribute this not a little to the good un-
derstanding and great cordiality that existed between the
chief civil and military authorities, and I have no doubt that
the same cordiality will continue to exist. I now beg to
propose The health of Major-General Sir John Littler,
K.C.8., and the Garrison of Lahore, with three times three.'"
The Governor-General left Lahore on the morning of the
11th, the 42d Native Infantry accompanying him as an
escort. Precautions of every sort were being adopted for
preventing collisions between the troops and the towns-
people; a race-course, a racket-court, and a theatre were
about to be constructed, and there was some talk of getting
the services of a chaplain and erecting a temporary church.
The station will for the next six years contain 10,000 troops
at least, of which from one to two thousand will be English-
men. :Permission has been given for wives to join their
husbands.

Commercial...

THE BOMBAY MARKET.

PRICE OF BULLION
Sovereigns, each Rs. 10 1 4
Bank of England .Notes, per ..C 10 12 0

CALCUTTA MARKETS

CALCUTA.
THE MONEY MANHET.—We have but little chJANange2l. to
notice in this market since our last issue of the 7th inst.
The market continues active; advances and accommodation
for general commercial purposes are required, but transac-
tions of safe character command means at current rates.
The outward remittances by the two last mails have been
contracted not exceeding Co's. Rs. 30,000,000; but money
for all purposes is still abundant. The purchases of Opium at
the second Government sale were paid up on the 12th inst.,
without occasioning auy change in monetary relations. The
third sale of the season wilt be held on the 25th inst.,
and will take about Rs. 31,000,000 towards purchases for
which we believe provision has been made; payments into
the Treasury towards the re-opened five per cent. loan con-
tinue; we understand that it will be closed upon Rs.
1,00,00,000, and that about Rs. 80,00,000 are already sub-
scribed. The following shows market value of bullion and
foreign coin. and the rates of banking transactions; the latter
exhibits no change from last quotations :
bellars Co. Rs. 219 4 to 221 0 per 100
Sovereigns
G Mahon oldne
21
~,,
Five franctfni eßcieasti(usllsi‘o" (silver)
.....
Bunk of
102 08
121 01
G01d... China bars
Silver, tisa wt.
aeltß aunt,.,...',. 13 8 16
xAt. ....
. p
Private Bills and Notes ats(c"lcrs.
3 months ......
..
Government acceptances ..
at thin
g per cent. per ann.
INTL:I:EST CHARGED "
On Loans and accommodations of
credit, not exceeding 3 months,
on the deposit of Company's paper 8% per cent•
On fixed Loans, ditto ditto ...... 8 per ann.

A very numerously attended meeting of the Town
Council of IVindsoc, J. 3. Bedborough, Esq., the Mayor, in
the chair, took place yesterday afternoon, at which peti-
tions to the two Houses ofrarliarnent in favour of the Wind-
sor Castle and Town Approaches Bill, and the Windsor,
Staines) and South-Western Railway Bill, were unanimously
EWS igreid

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cation ensued, and the police interfered. The sowars were
armed with swords, and on being ordered to give up their
weapons, one of them, instead of complying, inflicted a
severe wound on the head of the kotwal. A regular battle
then took place, and the kotwal received further injuries—
several of the sowars and policemen also being wounded.
Many of the former were made prisoners by the latter, and
one of them died the next day. A court of inquiry, of which
Lieut.-Colonel Corsellis is president, is now investigating the
tragical occurrence, and we shall doubtless soon know the
result-
" The Governor, with his whole staff, is expected at
Hyderabad by the 20th instant ; his chief purpose being
to present maiden colours to the 2d Irregular Horse It
is said that one of the many steamers that have taken the
17th Native Infantry to Kurrachee will bring his Excel-
lency to Hyderabad. At present there is not one steamer
in harbour. No one can say how long the Governor's stay
will be, or whether he goes onwards. Captain Scott, su-
perintendent of canals, is now at Hyderabad busily engaged
in laying out work for his numerous assistants and surveyors,
the whole of whom are to be distributed throughout the
country. Captain Scott will also go into their several dis-
tricts, inspecting what each has done. What with assistants,
surveyors, woodrangers, &c., and their respective attaches,
he has certainly a very strong subordinate corps, and for
the immense deal of money expended upon them Govern-
ment ought reasonably to expect ample topographical and
statisical information, as well as full particulars regarding
the resources of the country and the capabilities of its soil,
and suggestions as to the most profitable way of disposing of
the timber (such as it is), firewood, gum, and bark, &c. The
superintending engineer, Major Peat, C.B , will be at Hy-
derabad in a day or two, on his tour of inspection of the
public works. Lieut. Burke, of the engineers, is the present
executive engineer Middle Sinde Division."—Bombay Tele-
graph and Courier, Jan. 27.

(From the Chamber of Commerce OreriandP;ice Current.)
BOMBAY, FEB. I.—Our import market has been, in some
respects, even duller during the past fortnight than we have
had to report it for some time past. Notwithstanding the
advance which has lately taken place in the cost of manu-
factures at home, buyers here show little disposition to in-
crease their stocks, and demand has been chiefly confined to
heavy domestics and grey longcloths ; other descriptions are
without inquiry. The heavy supplies known to be on the
way, and shortly expected .to arrive, have rendered not a few
of them desirous of selling at such low prices as are now cur-
rent. In consequence of this, though a good many sales have
been effected during the past few days, a general decline in
the prices of moat of the Manchester staples falls to be now
quoted; indeed scarcely a single article in general demand
is saleable at a cost sufficient to save the importer from loss.
Such inquiry as has existed during the past fortnight has
been chiefly for heavy domestics and grey longcloths, of
which the sales have been considerable, but at a decided
reduction from the prices obtainable even in December
last. Lappets, malls, book mastitis, and all kinds of Glas-
gow goods, are only saleable at a heavy sacrifice. No
Marwarrie purchases of any extent have been made in
Bombay during this season ; these in former times were
very extensive. The absence of anything approaching to
the usual demand this season was at first accounted for by
calling to mind the extensive speculations in opium, in which
the Marwarrie people were known to have had a large share,
and the consequent more than usual want of confidence in
the native mercantile community, while the majority of the
claims arising out of those speculations remained unsettled,
and threatened, as they still do, to become subjects of exten-
sive and varied litigation in the supreme courts of.the presi-
dency. But it is now remembered that the Marwarrie pur-
chases in this market have been declining for years; and
that they have this year been almost nothing, is not ex-
plained, or at least is only partially explained, by the circum-
stances attending the opium speculations here alluded to.
There is a certain amount of demand for articles of common
and general we, which speculations in opium could never
interfere with, and which, if not made in Bombay, will be
made somewhere else. It is believed that some of the
markets of North West or Central India, including particu-
larly the extensive one of Joudpore, which have hitherto
been supplied with English goods from Bombay, have been
of late supplied with these from Calcutta, where cotton goods
have been obtainable on even lower terms than at Bombay,
and whence the means of communication with the internal
country, by roads and rivers, are in many respects superior to
those yet available in Western India.—lt is net easy to fore-
see how long this state of matters may last.
Cotton Manufactures—The foregoing general: observa-
tions are meant to apply particularly to these, and little ad-
ditional falls to be added. Grey domestics, which lately
were in demand fur the Arab market, have, since last issue,
been sold at Bto 10 annas below former prices. Turkey red
cloths, both twilled and plain, have also been disposed of at
a reduction. The holders of grey longcloths and grey do.
mestic seem fully more desirous of selling than parties are of
purchasing. Sales in consequence can only be effected at a
reduction of price. Fine white shirtings and 45-inch grey
ditto are also in some request, but there is no improvement
to notice in their value. Seven-fourths and eight-fourths
cambrics are scarce, and would command good prices if now
in the market in moderate amount.
Cotton Yarns—Sales of twist have not been made to the
usual extent, and a slight decline on several of the numbers,
both mule and water is quoted thus:—
Mule. .No. 20. Annas 01/1 to 6',4 per lb.
No. 30 71,42
fl
No. 40 7% to Blf f/
No. 50 WI, to 9
Water. No. 20... „ 714 to
No. 30
/f 8 IA
No. 40 „ 11 )7
Nevertheles sales are reported to us as follows:
Water Twist. 1,2001ba. No. 20 to 4% ans. per lb.
1,2001b5. No. 30 to N „
2,4001b5. No. 30 to tilA „
Turkey red, green, and orange, in no demand.
Metals have been in fair demand, but without much alte-
ration in value. The following sales are reported or known
to have taken place :-500 cwts. Tile copper, at Rs. 50i per
cwt.; 151) cwt. of brazier's sheets, 4 by 4, at Rs. 61 per cwt. •
90 cwt. of heavy sheet, 4 by 3, at Rs. 60 per cwt. ; 400 cwt.
of sheathing, at per cwt.; 40 cwt. of bolt, at
Rs. 59. In iron, we are informed of a sale of 70 candies,
3-16 to 6.16 inches, nail red, at Its. 46 per candy; of 165
kegs mills, at its. 12 per cwt. ; of 776 bundles sheet iron,
at Re. 7A per cwt. ; of 2,510 bars false Swedish, at Rs. 38
p, r candy. In ~•,pelter we have heard of a considerable trans-
action at Re. 10 annas 10 per cwt., since last mail. There
has been a sale of quicksilver since our last, and the market
is bare of that article.
Beer—Allsopp is quoted at Re. 65 per hhd., but there being
none at market, the quotation is merely nominal. Sales of
Bass are reported at Es. 50 perilihd., but we are not informed
as to what extent.
Spirits—Sales of brandy at Rs. 3 2 annas to Rs. 3 4 annas
per gallon have had effect since our last.
Marine Stores—We are informed of 103 cwt. of white pain
having been sold at Rs. 11 per cwt.
Saffron--. Sales of 'first quality are reported at Rs. 18 per lb.
Cochtheal—Very scarce, and in demand.
EASTERN PRODUCE.
Cotton—There is still considerable activity in Cotton
shipments for England, hut• prices have a tendency down-
wards, partly attributable to the inferior article en timid, and
to the scarcity of available tonnage in the harbour, and
consequent advance in the rate of frights. Shippers of this
staple for China are doing nothing, preferring apparently to
wait the arrivals of new cotton to operating on what re
mains of the old. Of the new, some trifling parcels of Oom
rawatty have been received, and for which Rs. 88 per candy
is asked.

The current rates are as follow :--
Broach and Jumbooseer
Surat
82
DhoHera
76
Compta
72
Opium since our last has receded, and is now quoted at
Its. 1,080 to Rs. 1,101) per chest. Further accounts of the
China market (being a pected by the Ceylon steamer) are
looked for with some anxiety. Not a little of what is in
the market is supposed to be of inferior quality. Purchases
to sonic ex:ent have been made at the rates here named.
Freights to Great Britain continue firm at .51. 55., with an
upward tendency, owing to the small amount of available
tonnage in the harbour. To China freight is nominally
Its. 14.

MONEY MARKET.
The Banks have advanced their rate of discount one per
cent., money having bean rather more in request, owing
chiefly to heavy payments' in the Five per Cent. Loan. Of
bills on Calcutta a sale to the extent of five lacs, held a few
days ago, produced an average of Rs. 9#l-15-6 for Rs. 100 at
thirty days' sight.
The following are the quotations of the public loans :-
5 per cent. Loan of 1825-26 ... Rs. 1031
4Do d 0... 1832-33 „ 94
4 1h) .... , d 0... 1835-36 „ 90
5 Do d 0... 1841-42 99i
4Do d 0... 1842-43........... „ 90 to 901
Bank Shares are as follows :
Bank of Bombay Rs. 35 to 36 per cent. prem.
Oriental Bask, Old Share „ 31
Do. ...... d 0... New do „ 22 to 26
Agra Bank „ 50 Exclusive of the
Bonus divisible on the
30th June, 1847, of
40 Es. per share.
•..
10 prem., but since
offered out at lower
Exchange indicates a slight advance,ates being now quoted
at s. 01X3.1. to 2s. 014 d. There seem to be more drawers
than buyers, the sales of English goods not having amounted
to much, and the purchases of raw cotton being Consider-
able. The rate of exchange on Calcutta at sixty days' sight
is now gaited to be at above Rs. 98-15 6; on Madras and
China no quotation. 111