The Sun.
London, England, 1858-01-13 00:00:00

ribtrb Xbttton

SUN OFFICE, Six o'Clock.

NAVAL APPOINTMENT.—(This Day.)

The following appointment were made this afternoon
at the Admiralty :
Commander—F. W. Gough, to the Coastguar3.

THE EAST INDIA CHARTER.

(MEETING THIS DXY.)
This morning a special meeting of the proprietors of
East India Stock was held at the India House, Leaden-
hall-street. The object of the meeting, which was called
at the request of nine proprietors, viz., Lieut.-General
Thomson, Mr. M. Lewin, Mr. J. Jones, Mr. G. Craw-
shay, jdo., Mr. John Faulkener, Mr. G. Crawshay, Mr.
J. Allen, Mr. C. Finch, M.D., and Mr. E. Eagleton,
jun., was " to consider the communication addressed to
the Court of Directors from the Government respecting
the continuance of the powers of the company." Mr.
Mangles, M.P., chairman of the board of directors, pre-
sided. There was a larger attendance of 1,0001. Stock
proprietors than usual, but they were not so numerous
as the importance of the subject led one to imagine.
Nearly all the directors were present.
The CslialeArr, before proceeding to the business,
acquainted the meeting that the direction had communi-
cated with the Government relative to the future go-
vernment of India, but had received no answer. Befire
the meeting of Parliament the Directors intended to
summon a court of proprietors to consider the question.
Mr. LEWIN asked to be informed the nature of the
correspondence, because it might materially affect the
remarks to be made and the course to be pursued by those
who had been the means of calling this meeting. He
thought they ought to know the opinion of the board.
The CHAIRMAN said that it was unusual to do so. He
assured the meeting that it was in favour of the company
and directors.

Mr. LBWIN repeated his question. He had no desire
to see the Indian Charter abolished—(hear, hear)—but
he thought the conduct of the board of directors had
mainly been the cause of the present movement.
The CHAIRMAIN said that the meeting was called at
the request of certain parties, and the directors wished
to know their opinion. It was contrary to practice and
propriety to produce the imperfect correspondence that
had taken place between the Government and the
board. The communication was not made through the
secret alphabet.

COLONEL RATHBORNE suggested it would be better to
adjourn the meeting till the proposed directors' meet-
ing, when the correspondence could be laid before it,
together with their opinion on the question. (Hear.)
Mr. CEAWSHAR, jun. expressed his surprise at the
proposed adjournment of the meeting. He admitted
that he addressed them with an overwhelming sense of
the danger that would result to the country in India
being placed under the control of the Government. He
considered that if India were placed under the direction
of a Secretary of State, India would be soon lost. He
thought it would be impossible to mislead the people
of England into a belief that it would be better for
India ; but unless they removed an opinion to that
effect, that had been circulated of late in various
quarters, he thought the company's existence
would soon be at an end, and the experiment
tried. The honourable gentleman referred to the origin
of the charter, contending that the present Government
of India bad been miscalled an anomaly. He referred
to the course pursued by many of th© past great men—
Hastings, Malcolm, and others—who had governed
India, observing that the principles laid down by them
were correct, and only required to be properly worked
oat. The officers of the company, both civil and mili-
tary, could not he surpassed by any of Her Majesty's
servants (Hear, hear.) It was proposed to abolish the
doable government, which meant the destruction of the
Bast India Company, whilst the Board of Control
would be merely a sham death, and be merged in a
Council for India, or some other form. (Hear, hear.)
The Board of Control should be abolished, and the power
of theoompeny possessed in thetime of Warren Hastings
restored to it. The company had been plunged into
wars by the Board of Control, which was established to
prevent such calamities. Tney could .not agree, to the
extinction of the company, unless they believed it would
be beneficial to that country. If they did not stand up
and struggle for the continuance of the charter, it would
be abolished, for Parliament was never more corrupt
than at present. (Hear). He concluded by moving that
the proposed transfer to Government of the powers of the
East India Company is opposed to the rights and pri-
vileges of the East India Company—is fraught with
danger to the constitutional interests of England, is
perilous to the safety of our Indian Empire, and calls
for the resistance of the corporation by all constitutional
means. (Loud cheers.)
Mr. LEWIN seconded the motion.

Mr. J. D. M'KEDIstE opposed the motion. The
present system of double government got rid of respon-
sibility. Their policy had been to conciliate the strong
and oppress the weak. Justice could not be obtained
in the courts of India by the poor mati, from theexpen-
sive nature of the proceedings, which was used as one
means of oppressing the poor and 'lhelpless. It was,
therefore, necessary there should be a more extended
European system adopted in India for the prosperity
and happiness of the people.
Mr. REMINOTON supported the motion. From a
lengthened residence in India he was able to speak of
the kindness and consideration shown by the English
towards the native inhabitants of India.
. , .

Colonel Six (director) felt assured, in expressing
his own convictions he did that of his brother directors,
when he s aid that if a change of Government could
produce more material interest, improve the happiness
and insure the comfort of the vast population
of India he would submit to any perarnal loss consequent
on reel a change. (Hear, hear ) At present they had
only a broad outline of the charge that was to be
brought against them, and they were ignorant of the
specific charges they would have to answer. He did
not stand there as the apologist of the Company, but as
the advocate of truth. It had been stated in many of
the leadieg journals that a new govsrument would pro-
duce so increased development of the resources of the
country. That might be so, but the resources of
India continually increased under the Company.
During the last thirty years the exports of produce
had increased. In 1834-5 they amounted to 7,993,4201 ,
and had increased in 1855-6 to 23,039,256/. The imports
in the same time had increased from 4,261,0001. to
13,476,0001,, and upwards of 150,000,000/, sterling had
been sent to that country, which was in circulation
throughout the country. (Hear.) The men of Manches-
ter complained when cotton rose the ghost of a quarter
of a farthing that cotton was not grown in India, That
was not the fault of the court of directors. The land did
not belong to them, butte the peopleof that country. The
company did not receive rent for the land, but only a land
tax. If the people could gain by growing cotton instead of
other produce they would do so, but they had no more
right to compel the people of India to grow cotton for
the people of Manchester, than the people of Ireland
had to call on the English farmer during the late famine
to grow potatoes for the Irish. (Hear, hear.) He
approached the subject of the mutiny with sorrow, and
they must not conceal from themselves that if any blame
attached to the directors, it was that of oversight and
not intention, from which none must shrink. The
gallant officer proceeded to state that he was a member
of the military committee. One million and a
half of greased cartridges for India certainly passed
through his bands, and he took blame to himself from
not knowing that fact, because from his experience in
India he was well aware that such a circumstance would
have an extraordinary effect on the sepoys, who would
cat a man's throat rather than do a thing by which he
would lose caste. The cartridges were sent out and
used for some time without the sepoys being aware of
what grewe was used, and it was only owiLg to a remark
made by one of the other troops to a sepoy that would nut
give him water, on account of loosing caste, that ho
would soon loose caste in having to bite the cartridge.
It was that that led to the mutts) not being able
to remove the impression from the sepoys' mind, that
we wished to Make them lose caste. He denied
that we had ever decried our country in India.
y
A bishop's arriving at his station was announced
by the sound of cannon. Chapels were being
built all over the country. In Bombay, since 1836,1 the
chapels had increased (from 42 to 71, in Madras there
had been an increase of 12 chapels within late years,
and in Bombay 11; and there were now about 460 mis-
sionaries in the country. With regard to the double
government, he denied that any such existed. The Board
of Control was answerable for everything that was
done in India. The despatehes for transmission
to India from the India House were revised by the
Board of Control, even to the extent of crossing the
" t's" and adding " th's" to the dates in red ink. (Hear,
hear, and laughter) There was no double Government.
The Board of Control was answerable for all the

annexations that bad been made, and every message tqat
had been sent to India. AU they now wanted was to
get rid of tte moral check that at present existed, With
he patronage of the company in the hands of an
unpopular Ministvr mid a subservient Rouse of Com woos,
it would prevert 1114 removal, and set at defiance
the constitutton. of the country. Believing it would
be injurious to India, and ultimately destructive to the
coloititutional principles of this country, he supported
the motion. (Rear, bear.)
Mr. CRAwFoRn addressed the meeting, in the course
f which be said that the Afghan war had cost one-third
f their present debt, and asked them to consider what

would be the result when India was left to the irrespon-
sible control of a minister ?

Mr. LEWIN also addressed the meeting in support of
the motion. He would rather retain the Company with
all their faults than fly to evils they knew not of. (Hear.)
The mutiny originated under persons appointed by the
Crown, and arose out of the annexation of Oude by
Lord Dalhousie. He condemned the appointment of
Lord Clanricarde to the office of Lord Privy Seal, in
consequence of his views on India, and, in passing,
observed that the present House of Comnions was the
most corrupt since the da,ysof Cromwell, there not being
30 iedspendent members belonging to it.
General BRIGGS having addressed the meeting,
Mr. JONES moved the adjournment of the debate for
a week. It was desirable to know the directors' opinion
on the subject.
The CHAIRMAN thought it better to adjourn to the
directors' proposed day of meeting to consider the mo-
tion. He thought the resolution would require altera-
tion. At present they did not know the particulars of
the Government scheme.

Ultimately the meeting was adjourned till Wednesday
next, the 20th.
The CHAIRMAN referred to the remarks of Colonel
Sykes relative to the greased cartridges, and denied that
the Conrt as a body held the opinion as expressed by
the gallant officer. A commission had been sent to
India to inquire into the outbreak. The Government of
India bad stated that none of those cartridges had
been used.

Colonel SYKES explained. He adhered to what he
had paid.

The meeting then separated.

MONEY DIARKET

ATD

COMMERCIAL INTELLIGENCE

CITY, Two o'CLocK.

The Money Market continues very easy, and the
expectation that the Bank directors will reduce the
minimum to-morrow, tends to check the present
demand. It is imagined that the next alteration,
whether adopted at once, or a week hence, will not
be more than 1 percent., but as the terms out of
doors are already as low as 4 and 4i per cent.,
such a modification will not secure much discount
business for the authorities, who shortly afterwards
perhaps will find it convenient to make a further
concession. At first it was imagined that the down-
ward movement would stop at 5 per cent., but now
an unusually low rate is anticipated, many believing
that money will become quite a drug in
the market. Without pretending to say what
quotation may be attained, it may be safely averred
that nothing short of a sudden efflux of specie, or
a rapid absorption of capital for the prosecution of
fresh joint stock enterprise, can arrest the relaxa-
tion of the rates of interest. For the moment
specie is pouring in from various quarters, and on
a scale that must occasion a large accumulation in
the Bank vaults, but if the continental exchanges
continue to recede, and the Bank of France, as
stated, is losing gold, some diversion of the Austra-
lian, and other supplies, may shortly take place,
though not, perhaps, to such an extent as would
trench very seriously upon our metallic reserves.
A further addition of 175,0001. was made yester-
day to the Bank's stock of bullion.

The Teviot has brought 200,1681. in Australian
gold, the whole of which, it is expected, will be
taken into the Bank,

In the Silver Market there is no variation, bars
being quoted ss. lid. per oz. standard.
A further slight decline took place yesterday in
the rates of exchange for bills drawn upon the
principal cities of the Continent, but the movement
was unimportant.
The Liverpool Cotton Market yesterday exhi-
bited a very quiet appearance, and values of most
descriptions were unaltered. The sales amounted
to 4,000 bales, 500 of which were taken on specu-
lation and 500 for export. The Railway Share
Market closed steadily, and the transactions were
of a limited character.

At the meeting of the members of the National
Provident Institution held to-day, it was moved and
carried that policies of members who alight die
by suicide or duelling, should be held -valid, pro-
vided they had been assured for four years pre-
viously.

Although there has been scarcely any alteration
in the English Stock Market it appears dull and
heavy. Speculation ill exceedingly quiet, and it
seems as though the op7.ators required some new
event upon which to continue their transactions.
The amount of engagements already outstanding,
however, is very large, and pending the meeting of
Parliament, it is only natur..il that there should be
a little less activity and buoyancy. At the pre-
sent moment there is rather more firmness.
Consols for money have been 94j 13-, and
941 for account. The latter are now 94g.
The New Threes are 94i ; the Reduced, 94i 1 ;
New 2fr per Cents, 78 ; and Bank Stock is 222.
Long Annuities are 2 1-16 ; Exchequer Bills, 15s.
to 20s. pm. ; Ditto Bonds (1859), 99 ; India Stock,
221 ; and India Bonds (under 1,0001.), par.
Foreign Stocks are dull, a smaller business than
usual having been done, and prices show no par-
ticular variation. Turkish 6 per Cents. are 97/ 98;
ditto 4 per Cents., 1041 ; Brazilian 4 per Cents.,
951 ; Mexican 3 per Cents., 20/ ; Peruvian 4f
per Cents., 78 ; ditto 3 per Cents., 53 ; Spanish
New Deferred 25k g ; aMd Dutch 4 per Cents., 90,
The following are the nominal prices of Foreign
Stocks ;—Grenada Deferred Bonds, 5i 6; Mexican,
201 A ; Peruvian 4t per Cents., 76 78 ; Ditto 3 per
Cents., 52 54 ; Portuguese 3 per Cents., 44 45 ;
Russian 5 per Cents., 108 110 ' • Ditto, 4 per
Cents., 98 100 ; Spanish 3 per Cefits., 41/ 411 ;
Ditto New Deferred, 25i 26k ; Ditto Certificates,
—; Ditto Passive, —.
Ix the Railway Share Market this morning
business has been rather active, and prices
have fluctuated about to 1 per cent.
Caledonians, Brightons, and North . British,
declined' ss. ; South Eastern, and Chester
and Holyhead, 10s.; and East Lancashire 15s.
Lancashire and Yorkshire, and Manchester, Shef-
field, and Lincoln, improved ss. ; Eastern Counties
and South-Western, 10s. ; and Great Northern
and Great Western, 11. The Foreign and Colonial
lines were dull, but prices slightly improved.
Eastern of France advanced ss. ; Grand Trunk of
Canada, 10s. ; Great Western of Canada, 55., and
East Indian, 103.
Mining Shares were in rather better favour.
Par Consols realise 171 18 ; Tin Croft, 3f ; St.
John Del Rey, ilk ; and United Mexican, 4i
For Joint-Stock Bank and Miscellaneous Shares
there is a fair inquiry. City Bank have iinpioved
11. ; English, Scottish, and Australian Chartered,
58. ; London and Westminster, ss. Crystal
Palace shares are at I I 1i ; Eastern Steam at 5} ;
Peninsular and Oriental Steam, 73/ ; and South
Australian Land, 34.

BR ['FISH FUNDS.—CLOSING PRICES—THIS DAY,
( From the Offiezal List;)
Basinen dove.
222

lk Stock

3 per Cent. Reduced Annuities 944
3 per ...,at. Censela 6.nr.blitiee 94s i
$ $
New i per Cent. Annuities 94i
New 2i per Cent. Annuities
Loa:, Annuities, expire stt, Jan. 1860... 2 1-16
Ditto 30 Years, expire sth Jan., 1860 1 13.16
India Stock
I 1 as Rands, £lOOO -
rfrittu, under 1!10111t par
,:oL sots for Aceour' , Feb 4 ......
Ex :neuter Bills. 41d.
£IOOO.
-ante ,
S nail .., l5 14 18 p
Exchequer Bends, 1858, :ii per Cont._
ditto, 1559
•• •

PRICES OF FOREIGN FUNDS—THIS DAY.
13 rarinin 5 per Cent.
Ditto 1852, 4i per Cent.
Mexican 3 per Cent 2o4}
Peruvian Bonds, 4,4 per Cent 7B i 8
Ditto Account Jan. 29
Ditto 3 per Cent ~ s3i
Ditto Account
Ssrdintan [son4s, 5 per Cent.
an • ai!li Rmucit4, 3 per Cent.
Ditto New Deferred, 3 per Cue.
Tui xibti flonds, 6 per cent 97s i
Ditto Account
981
..
Ditto Guaranteed, 4 per Cent.
Ditto Account, Jan. 29 lo4i
Dividends on the above payable in London.
Dutch Exchange, 2!1 per Con;., 12 Guilders 64i
41Do. 4 per Cent. Certificates
Consoh., mono y
ft !MEE 9 O'CLOCK.
Ditto account (February 4)

The Prince of Prussia has proposed that on the occa-
sion of the approaching royal marriage a general political
amnesty should be proclaimed.
The Malta journals announce the death of Miss
Catherine Lyons, aged 61, sister of Admiral Lord Lyons.
The funeral was conducted as privately as possible, the
only persons present being his lordship, Capt. the Hon.
F. Egerton, of the Royal Albert ((jag ship), and a few
officers.
On Friday last the death of the Earl of Winchelsea
took plats at Havorholm Priory, LAneashire. The
deceived nebleman eva3 in his Rixty-Feventh year.
Owing to the length. of the Indian news we are cora-
pelled to omit our report of the courts of law at West-
minster. Nothing, however, of very great interest
occurred during the morning.
At the Westminster Police court, this morning, a
fashionably dressed man, who gave the name of Ross,
was charged with robbing a gentleman named Lee of
his watch. He was remanded.
The Elgin Courier says that a son of Mr. C. Dickens
has joined the 42d Highlanders.
The Board of Works fia+ directed that a letter be seat
to the City authorities calling their attention to the
nuisances carried on in the vacant ground in New Far-
ringdon-street,
Reinforcements are daily being sent off from Chatham
for the army in India.