The Sun.
London, England, 1870-04-15 00:00:00

TIIE FOUNDERING OF THE ONEIDA.

Congress has directed the Secretary of the Navy
o order an inquiry into the Oneida disaster, and
he subsequent conduct of Captain EYRE ; and the
PRESIDENT having approved the resolution, the in-
vestigation will immediately take place. Mr. ROBE-
SON had already transmitted to the House the in-
formation in his possession about the loss of the
Oneida. Judging from the testimony taken by the
Court of Inquiry, from the evidence in thepossession
of the Navy Department, and from the statements of
the master YATES, the officer on board the Oneida
at the time of the collision, the Department •is of
opinion " that the Oneida, when the was struck,
was steaming her proper course out to sea from the
harbour ; that the ship was well commanded ; that
the discipline on board was good ; and that all the
necessary precautions had been taken by her com-
mander to insure the safe navigation of the vessel
and prevent a collision. The rules of the road were
conformed to agreeably to regulations of the United
States' Navy, and no blame attached to the officers
or crew of the Oneida for the collision. The Secre-
tary says it is asserted by the cap6in and some
officers of the Bombay, that the Bombay, on round-
ing lianowaki Point, approached the oneida ahead,
or a little on the port bow, and then took a course
aI ich would have carded her well clear of the
Oneida. This assertion is, in the of inion of the De-
partment, inconsistent with the real result of their
evidence when closely examined, and it is forced to
the conclusion, on the evidence now before it, that this
disaster occurred through the bad navigation of the
Bombay. No means appear to have been taken by
the captain of the Bombay to render any assistance
to the Oneida, although it seems inevitable that he
should have bad reason to suppose that damage bad
been done which was serious and dangerous. What-
ever doubt might exist as to the responsibility for
the collision, there could hardly be a question as to
the conduct of the captain of the Bombay after the
collision, and the Department was constrained to say
it appeared to have been the result of reckless
disregard for human life and of the common obli-
gations of humanity." On the strength of this re-
port Senator STEWART, when the House reso-
lution reached the Senate, denounced Captain
E] RE'S conduct, observing that it was evident he
was interested in keeping the real facts from being
known to the world. This must depend on what
those facts are ; but we believe it to be in the inte-
rest of Captain EYRE that the real facts should be
widely known, for the world condemns him so
severely on the simple result that he cut the sttrn
out of a ship, and then left Ler to sink, and 120 men
t) drown, that it must be in a measure a relief to
him if be were hanged, if the world's opinion is to
remain unchanged. But, on the contrary, the publi-
cation of all the circumstances may tend to relieve
Captain EYRE from some of the onus, shoeing that
his conduct was not so bad as the world believes;
therefore we consider the Senator front Nevada to
be incorrect in his remark. A Supplement of the
Overland China Mail contains the account of the
inquiry held at Yokohama on Captain EYRE. The
Court arrives at a different opinion to the Navy
Department at Washington, holding that the Bom

bay was not i❑ fault. It contrasts the evidence of
Captain EYIIE and Mr. YATES, the officer in charge
of the deck of the Oneida at the time of the colli-

sion, pronouncing them to be utterly irreconcilable.
Of course Loth parties will do their best to place
themselves in the right ; but however much the
handling of the ships, which ended in the catas-
trophe, may interest nautical men, and affect the
character as s3amen of the officers concerned, it must
remain a matter of comparative indifference to the
public. The real point is, how Captain EYRE acted
after the collision ; and it is evident that the Court

of Inquiry, after long deliberation and careful
consideration, find that he acted with a want both
of judgment and humanity. Still his conduct was
by no means so bad as the public has hitherto
been led to believe. We must imagine a dark
starlight night, the Oneida, under steam and sail,
running rapidly along, with a favourable wind.
The Bombay steaming up against the breeze, of
course without sail, and the lights of the two ves-
sels quickly nearing►. Fearing a collision the com-
mander of the Bombay stops his engines, and
brings the head of his ship round to the right, but
the officer of the Oneida, in charge of the deck,
cannot st ip the corvette, Es she is running under a
pressure of canvas. He brings his ship round to the
left, there'ore the two vessels become so placed
that the stem of the Bombay strikes the qu irter of
the Oneida, cutting out her stern, killing the men
at the wheel, sweeping away all the primers, rocke's,
and the means at hand of the U. S. corvette for
waling signals of distress, while she shoots on, still
running with the win 1, away into darkness, and
nothing more of her is seen by the Bombay, while
all that was licard of her was a shout from her
forccas•le of " Steamer, ahoy !" Then comes the
strue,gl in the Oneida to make the &Inger of the crew
known. No primers are at hand, all being carried
away with the stern, as well as the rockets and
blue-lights. A starboard guu had to be loaded, for
it appears that the charges had been drawn, and the

he knew that his vessel was not in jeopardy.
He only waited for these few minutes for any
signal of distress from the Oneida, which he was
aware the Bombay had seriously injured ; but it
is a remarkable fact that he gave no directions

for a look-out to be kept for those signals. Had
he done so, the flash of the Oneida's guns must
have been seen though the report was not heard.
It appears that rockets or blue-lights were the sig-
nals he expected, and not seeing them he concluded
that the damagewas less serious than he had judged,
so he steamed on, leaving the Oneida to her fate.
It is evident from the questions he put to the pilot
that in his opinion the Oneida had been seriously
injured; and as his own vessel had not been so in-
jured, it was clearly his duty, without a moment's he-
sitation of any sort,',to bring the Bombay round and
follow in the track of the sinking vessel; for on
the one hand there was nothing to lose, while on the
other, the lives of a ship's crew being in jeopardy,
there was everything to gain ; and with such an
alternative, it is almost incredible how any man
could have acted Captain EYRE'S part. Let him
imagine the case reversed, that the Oneida had cut
ont the Bombay's stern and left her to sink and him
to drown while she pursued her homeward way re-
joicing. If he has any imagination, and can realize
what his own feelings would be under such circum-
stance s, he will be able to arrive at the reason for
the judgment of the world on his own conduct. Of
all men, those who ought to be most alive to every
peril, and swift to rescue their fellow-creatures,
are seamen ; and whenever such a case as that of

the Bombay is told, the world will throw the burden
of proof, that he was not culpable, on the chief
officer concerned.--A nglo- American Times.

THE FLOOD-TIME AND ITS DANGERS,

(From Bowles Brothers and Co.'s Weekly Circular, April 8.)
The transition of our Government Securities,
noted in our last, from the hands of weak and specu-
lative holders, to the portfolio of investment, still
continues, and the slight depression, from the
highest point, in the face of such heavy realizations,
proves how strong the new demand is to meet so
excessive a supply. From all parts of Europe we
hear of these sales, and of the eagerness manifeste I
by the sellers to place their money in some Ameri-
can value, of longer term and better rate, especi-
ally in view of the imminent conversion of the pre-
sent Five-Twenty United States Bonds, into long
Four per Cents. IVhile we are gratified at the
confidence in our country which this indicates, we
foresee and deem it our duty to forewarn the pa bile
of the danger which may thence ensue. The
introduction of American Secuti ies in Europe has
encoun'ere l and is overcoming the same opposi-
tion which met the birth, and has desperattly
fought the development of the very principles of
popular Government, upon which all American
values era based. Guaranteed by the many,
rather than by the few, they pre-eminently
deserve the name of securities, for such they
are, and not irredeemable debts. The wealth and
influence of many great interests to which they
are fundamentally opposite, or with which they
compete, have vainly con'ributed to bar their way;
but the steady westward current of life, silent and
sure, has washed away all its dams, and re-
moved other obstacles, and the moment is at hand
when its calmer and deeper course will be all the
more irresistible. American Securities are plainly
on the eve of a flood of appreciative popularity,
which will float any good obligation, and which
will ensure, if they are properly presented, the
success of the New Four per Cents., which
Secretary Boutwell will be' authorised to place at
par; in currency, when Congress shall surmount
its fallacious objections to a more thorough cosmo-
politan financial policy, and make the interest
payable everywhere at capital centres, rather than
at fixed points within the State limits. Let them
emit the national expenses, but not the intern

tional circulation. The first is prudent and effect
tive ; the last itnpot lit and obstructive. This
deep current of success will also reach and float
along with it many of the worthless schemes pre-
viously stranded or unsuccessfully launched. Not
a day passes that enquiries are not rife already
as to some Bond, or Stock, which the public has
never before heard of. And yet it is probable that
many of these at le Ist doubtful schemes will find
takers, and then, at some near day, we shall have
them exposed in the money articles of leading
foreign kiurna's as evidences of the instability of
American values ! They will merely show the
ignorance or carelessness of their dupes. The
experience of the past few years' steady rise i❑
our Government Binds naturally tempts the pub-
lic, but it should remember that the Bands of
a safe Government are not every day to be found
at a depreciated point, and that they furnish no
direct criterion for other values. People will do
well to keep their Government Bonds, or, if they
wish to invest in other American Securities, of
which there are many, unimpeachable in character
and advantageous in price, they should look well
to the source whence they come. There are houses
in Europe whose tried character, greater means
and control of information, and conspicuous posi-
tio.), guarantee the safety and soundness of their
advice. In new enterprises such plats are indis-
pensable. They may err, as they often have, but
always on the s -de side.

FUNERAL OF CAPTAIN WILLIAMS.—The Japan
!fail of February 16 describes the funeral of Captain Wil-
iams, of the Oneida: —"At three o'clock ou Tuesday
afternoon the minute guns of the Idaho announced that
the remains of Captain Williams were on their way to
the French Hatoba, whence the procession was to start,
and where the Foreign Ministers, a large body of naval and
military officers, the crews of the men of war in harbour,
and the majority of the residents of Yokohama were as-
sembled. The procession was solemn and imposing, and
moved slowly forward to Christ Church, the bands of
the Ocean and the 10th Regiment playing the Dead
March' in Saul. And no one whose sensibilities are
alive to the sublime , implicity of that wonderful strain, so
mournful at its opening, so jubilant at its close, instinct
with grief, yet inspired by triumphant hope--a musical
epitome of that great chapter in the Burial service which
was subsequently read—could have failed in strong emo-
tions at a scene so calculated to excite them. As the body
was carried into the church the Rev. W. Smith, chaplain of
H.M.S. Ocean, read the appointed sentences, which
open the the finest and most deeply moving of our Church
services, and in a few minutes every seat and all standing
room in the building were occupied. The uniforms of the
navies of Great Britain and America were predominant,
the rennet of our line contrasted with the dark green
of the Russian dress, nor were the naval and mili-
tary dresses of the French wanting. The British Ad
mind, Sir Henry Kellett, dec.wated with the Star and
Riband of a Knight Commander of the Bath, and
recognized by some who knew him in earlier days as an
active Commander on the China station, was present, as
were the English, French, Prussian, and American Minis-
ters. The service was impre:sively read by the Rev. W.
Smida, assisted by the llev. B. Bailey, and in duo time
and order the procession moved to the Cemetery. There,
amid many of the members of a profession in which he
had served with distinction, and in the annals of which the
loss of his ship will form one of the saddest pages, over-
looking the Bay he recently left under circumstances so
fairandpromising,the last honours were paid to the remains
Captain of Capt_..— 9i the United States'steamer Oneida."

guns were not ready as reported, and still the vessel
was driving along before the wind, so that she had

run some miles from the spot, before the gun was
charged and fired. Four times that gun was dis-
charged, but not till ten to fifteen minutes after the
collision, and when the vessel was sinking, which
tended to smother the sound. Thus it happened that
the vessels were separated by some miles, that the
Bombay was right away to windward, and that the
sound of the guns had been d, adened ere the sig-
nals could be made, and that they were never heard
on board the mail steamer. To add to the chapter of
accidents which thus suddenly befell the unfortu-
nate Oneida, she had lost some of her boats, and
the captain had aiplied in vain to have them re-
placed. Such was the desperate pc.sition to which
the U.S. man-of-war was in a moment reduced ; and
it is melancholy to read among a recent list of the
promotions sanctioned by the Senate, the names of
six of her unfortunate officers whom the Senators
knew were then lying dead under the waves which
wash the shores of Japan. But what did the Bombay
do? is the question :that concerns Captain EYRE
chiefly, British seamen greatly, and the world gene-
rally. He remained with his engines stopped for
at most, five minutes, though his vessel was built in
compartments, but one of which was making water
fast. Had he been in danger he could have run on
the Saratoga Spit, about six miles distant ; but