The Sun.
London, England, 1857-11-06 00:00:00

LONDON, FRIDAY, NOV. 6, 1857.

The Bank of England has again raised its
minimum rate of discount, which now stands at
9 per cant. And it is said that other restrictive
measures are under consideration, as well as a
further advance, possibly to ten or even twelve per
cent. How is it possible that domestic transac-
tions can be carried on with such an exorbitant
and usurious rate of discount ? The bullionist
organs preach submission to the sufferers—de-
clare that no really sound establishments can be
affected by the high price of money. This is all
bosh. It is very well for money lenders and
usurers, who would look with satisfaction on 20
or 40 per cant, but it is ruin to the real crea-
tors and producers of national wealth, who will,
if employers, be compelled to suspend payments
and close their factories, and, if operatives, to
appeal with their families to the tender mercies
of the union workhouses ; and all through they
are, according to the Times and its servile
dock of imitators, to play the game of the
moneyocracy, and offer themselves up as volun-
tary sacrifices at the shrine of Mammon !

We do not—we cannot believe, that the indus-
trious classes are such fools—or that they can be
misled by such specious fallacies, and pompous
platitudes. The evil has come home to every man's
door, and unless adequate remedies be forthwitk
administered, it is impossible to form any accurate
estimate of the results--which may be, more ter-
rible than has yet been anticipated. The Times
and its disciples preach against panic—why, there
must be a panic. Money at 9 per cent. at head-
quarters, and nearly double that rate to parties
who have not extraordinary facilities for obtaining
discounts at Lombard-street or Threadneelle-
street, must necessarily produce not merely a panic,
but a well grounded conviction of approaching
ruin. They have the example of Now York
before them. Eighteen, twenty-four, thirty-six
per cent, was demanded and paid, on unexcep-
tionable paper, and the grievance would have
gone on increasing had not the commercial com-
munity, purely in self-defence, carried the war
into the enemy's camp, and, by a run on the
banks, enforced a suspension of cash payments.
The people of Eugland must do likewise. It is
obvious that no relief will be affirded until the
bank itself is pressed to the utmost. Let them
run for gold, let them withdraw their deposits,
and._ the Moneyocracy will speedily be brought to
their senses. In 1830 the cry was, " If you
would stop the Duke, go for gold ;" and now we
say, if you Would get rid of the iniquitous and
impolitic monetary code, go for bullion. If the
bank-notes are but " worthless rags," don't ke« p
them. Lit there be a purely metallic currency,
so far as you are concerned, 3.ud by sternly insist.-
iug on it for a brief period, you will get rid of
the incubus that has been preying on the vit of
industry, and paralysing its energies.The Times
says that "the Bank can undertake to provide
for wants, not fears." This is pure bombes'.. It
is an exhibition of its own apprehensions—
*, mere attempt to disguise the unequivocal
failure of the OVERSTONE enactments. If these
regulations be good for anything, they ought to
bear the strain. The anchors by which a vessel
is preserved from shipwreck are not prepared
merely for fair weather : they must bear the
utmost strain that can reasonably be anticipated,
aud, if not suited for the emergency, they stpuld j

It ought not to be forgotten for an instant, in
regard to these 80,000 or 100,000 Bengal
Sepoys who have suddenly turned their brands
upon us as mutineers, that their ingratitude is,
in a manner, quadruple.
Recollect, in the first place, that their enlist-
ment was voluntary.
Remember, in the next place, that their pay
was at once secure and munificent.
Boar in mind that they had retiring pensions
insured to them—sufficient to guarantee for the
evening of their lives the solace of competence, and
consequently of contentment.

And hold in memory, beyond all this, the fact
that they possessed absolute assurance, not less
than their European officers, of—promotion by
seniority. Always, of course, upon the proviso
that they did not forfeit all claim to the boon by
neglect of duty or misconduct.
Yet, these are the men who have suddenly, by
one flagrant and insensate act of revolt, scattered
to the winds—their "voluntary" service !—their
"ample " pay !—their "inevitable" pension !
and their " promotion "by seniority ! These are
the men who have, in recompense for being thus
pampered, perpetrated in cold blood atrocities,
for a parallel to which we may search in vain the
pages of evan Asiatic History.
It is startling enough to remember the precise
words formally written no less than a full quarter
of a century since by Sir CHARLES METCALFE—
words exactly bearing upon this present calamity
--•words which may still be found in a state paper
penned in 1832 by the hand of that eminent man,
a paper relating in its very title to the Machinery
of Indian Government.

Quoth Sir CHARLES METCALFE fivo -and twenty
years ago in that memorable passage of that news-
paper—" Our ►hole real strength consists [the
tease applies equally to 1857 and 1532 L] in the
few European regiments, speaking comparatively,
that are scattered singly over the vast extent of
subjugated India." In the QUEEN'S troops—not
in the native regiments. Not in the dark-blooded
&Toy band 4 loitering away their time down those
long parallel rows of matted huts termed the
" lines " of their regiments in the chosen sites of
their military cantonment—sprawling in oriental
indolence along the rude cushions of their ch ar-
poys until the houritt last strikes transforming
them from the semblance of mon into a grimly
horde, seemingly midway between demons and
ourang-outangs.

The peril encountered at such a juncture
being to a certain extent of course easily calculable
by the Europeans. Calculable for instance so far :
That we may have in recollection the fact that every
regiment of Native Infantry had nominally at-
tached to it 25 European officers—several of them
with families. Every regiment besides this con-
sisting of tea companies—each company being
composed of two commissioned native officers,
the captain and lieutenant, otherwise the
Soubhadar and Jemadar ; with twelve uon-c )m-
-miasioned native officers, viz., six sergeants or
havildars, and six corporals or naiks—with 100
Sepoys, rank and file. Such literally were the
explosive materials among which in the spring of
this year the sparks of revolt were abruptly and
mysteriously scattered broadcast. The Maho-
medan and Hindoo elements—both equally ini-
mical to ourselves—being at the outbreak in the
Bengal army as one to fifteen ; that is to say,
fifteen Hindoos, (and these for the most part
high-caste Brahmins and Rajpoots) to one Maho-
medan. For years and years the danger had
been lying dormant under those suspicious pro-
portions. It had often been suspected. It had
occasionally been clearly recognised, and pointedly
indicated, and boldly and explicitly prophesied,
as already shown by our extract from that State
paper, written in 1832 by Sir CHARLES MET-
CALVE. But earlier than that date, as fia back
as the July of 1824, Sir JOHN MALCOLM
had bluntly declared in so many words,
" The native soldiers are always appealed
to [are, observe, in 1824 !] and the advice to
them is [is, mark, in 1824 !] in all instances I have
met with, the same." And that advice—note it
well, every syllable of it !—" Your European
Tyrants are few in number ; kill them !" It is
preeisely, literally, actually the very self-same
advice addressed far and wide in 1857 to the
Bengal mutineers ! It is the opiteme, in one in-
stance, of the policy of old MEERZA. ARO° ZUFFUR
—the fugitive octogenarian Pfiuce, who assumes
to himself the title of King of DELHI, styling him-
self in that capacity MAHOMED SURAJ-00DEEN
SHAH GHAZE ! It is 023 plan 11pOL1 Whiell the
Rebels are everywhere summoned around the
green standard of the Mogul insurgents. It is, ,
to sum up all in one phrase, the gist of the advice
given to his felloWere by the monster of Cawnpore,
the sleek and infamous SREEMUNT NURSOO PUNT,
the adopted son of the late ex-Peisliwab, BADJEE
Rao, the eldest
on
known and execraatemdfagr hisan and
adoptedwide
face of the earth b o eovertnbse new-
r-
y the abhorred name of NANA
SAHIB ! Few, however, though the European!
" Tyrants" of India have been, comparatively
speaking, in point of numbers, they have never-
theless proved too many for their
murderous as-1
sail Ants—those only being killed
(60s1.4imix,
who

were unfortunately in the first instance surprised.
The tide of war has happily now turned, and is
already rolling back with cumulative force and re-
doubled velocity upon the mutineers.

A very important interview has taken place
between Sir BENJAMIN HALL, and a deputation
from the Metropolitan Board of Works, in refe-
rence to the important question of the main
drainage of the metropolis. Mr. J. THWAITES,
the chairman of the Metropolitan Board, clearly
explained the wishes of that body. We must
say, however, that Sir BENJAMIN HALL proved
beyond the possibility of doubt the propriety of
effecting greater improvements, no matter what
might be the expense, than those suggested by the
subordinate body. The object of the Legislature,
which created that body, was to cleanse and
purify the Thames, to prevent it from becoming
the receptacle of every abomination that might be
cast into it, s that it might no longer be the
cloaca maxima of the metropolis.
It is manifest that this design cannot possibly
be accomplished so long as impurities are suffered
to flow into it from any quarter, whether within
or without the district placed under the jurisdic-
tion of the commissioners ; and also that the
sewage matter must be conveyed to a sufficient
distance, to prevent the possibility of its being
conveyed back with the flowing tide. Half
measures would be worse than useless, and only
lead to enhanced expense at some future time.
They should therefore be sedulously avoided, aid
a large and comprehensive measure, adequate to
the magnitude of the emergency, introduced with
all convenient speed.

&Ir. THWAITE3 declared that the whole matter
turned on a question of finance. Sir BENJAXIN
HALL clearly and distinctly refuted his arguments,
and pointed out the impolicy of any short-sighted
and inadequate expedients. He showed also that
the metropolitan districts—comprising property
rated at no less than twelve millions sterling per
annum—had ample means to complete a work
worthy of the British nation, and effectually pro-
viding for the contemplated objects. The cost of so
doing would be provided for by a rate of leas than
6d. in the pound, and, considering the import-
ance of the object, that could not surely be con-
sidered a very serious sacrifice.

But the purification of the Thames may be re-
garded as a national object, and some assistance
ought to be rendered by the public Treasury. Tais
assistance need not be by money. It need not
cost a single farthing to the Exchequer,
but an issue of Exchequer-billy, or a National
Guarantee, would enable the parties to obtain the
requisite funds at 3i or 3i, in place of at 5 per
cent. This would virtually save a third of the
entire cost, and without the slightest risk
to the country. Of course the Chancellor
of the Exchequer must be consulted, and
Sir BENJAMIN HALL very kindly volunteered
t) accompany Mr. THWAITES on any day that he
might select for the purpose of fully discussing
the entire matter with Sir G. C. LEWIS. Let a
final and comprehensive scheme be proposed, and
we are quite satisfied that it will be received
in a proper manner, and that the existing
difficulties will be smoothed away, and every-
thing arranged in a mode alike honourable and
beneficial to the metropolitan districts and to the
community at large.

BANK BATE OF DISCOUNT.

TO THE EDITOR OF THE SUN.

SlR,—lthink yon will agree withme' and with the
bulk of the merchants in this important city, that
it is high time something were done to give relief
to the money market in such periods as the present
one. The Times would have us sit down quietly,
and finance so as to accommodate ourselves to cir-
cumstances. This is all very well for the great capi-
talists, who have money to lend ; but then—the
ot'.er party ! Do the borrowers believe it is a right
state of things, and that all should have their profits
m sucked up ai trade stagnated, mills stopped, and
all hands turned adrift ? No, sir ; they see that
all should not suffer for a knot of " fast" traders
iu Now York, and they suggest that Government
should afford relief by authorising the Bank to
issue, say five millions of one-pound notes, with
the national guarantee, such notes to take the place
of the departed gold, but to be withdrawn as we
revert to a more wholesome state of things.
To-day the rise caused a deal more anxiety than
the Times will admit.

Your obliged eorrant,
MANUFACTURES.

PROROIATION OF PARLIAILENT.—HOUSE OF LORDS
this day.—Their lordships formally assembled this after-
noon, for the purpope of hearing the royal commission
read by which Parliament was again prorogued until
the 17th December. The ceremony occupied only a few
minutes.

The Duchess of Inverness entntained at dinner, on
Wednesday evening, at her apartments, in Kensington
Palace, his Excellency the Prussian Minister and the
Countess B.3rnstorff, the Duke of Bedford, Count Bran-
denburgh, &c.
The Duke and Duchess of Northumberland are still
Alnwiek Castle, Northumberland, entertaining a
sel3ct circle of visito►s.

Tae Marquis and Marchioness of Ailesbury are pass•
ing the seasou at Tottenham Park, Wilt.,

The Marchioness of Londonderry is staying on a visit
wi h the Earl of Roden, at Tullymoro Park. The nobl3
marquis is at Mount Stewart, Thwnshire.

Tlio C Antess Craven and the Ladies Evelyn and
El'zAbeth Craven return to Ashdown Park to-day from
visiting Lord and Lady Camoys, at Stonor Park, near
Ileuley-au-Tiiames. The noble earl has been in town
two or three days, but will leave to-day to join his
family at Ashdown Park.

The Earl ani C,unteas of Cork and Lady Harriet Da
Burgh left town yesterday morning, for We!beck Abbey,
the neat of tde Duke of Portland.

The Earl of Malmesbury is expected in town to-mor-
row, from Heron Court, near Christchurch.
Lady Howard de Walden and the Hon. Miss Ellis are
staying on a visit with Lord and Lady Aveland, at Nor-
man ton Park, Rutlandshire.
Lord and Lady Carington are passing the season at
Tickford Park, near Newport Pagnell, Bucks.
Lord and Lady Londesborough and family are pass-
ing the sewn at Grirnston Park, Yorkshire.
Lady Peel and the Hon. Mr. and Mrs. Francis Stcnor
arrived in Whitehall Gardens yesterday from a tour of
visits in Scotland.

Viscount Goderich, M.P., and Major-General Thomp-
son, M.P., bad an interview with the Earl of Clarendon,
and presented memorials from the Leeds and Bradford
Chameers of Commerce upon the subject of commercial
intercourse with the parts of Central Africa recently
explored by Dr. Livingston.
Mr. Ju-t ea Cresswell, who has bean appointed the
Judge of the New Court of Probate, has just appointed
lis cousin, Mr. Robert N. Cresswell, barrister-at-law, to
be his secretary.
Lady Havelock, the wife of General Havelock, ac-
companied by her two daughters, arrived at the St.
Katherine's Wharf, London, on Wednesday morning,
by the General Steam Navigation Company's steamship
Holland, from Ostend.
BUST or THE LATE Ma. BROTHERTOL—A. very
striking and beautifully executed bust of the late Joseph
Brotherton, Esq., M.P., has just been planed in the
Manchester Town Hall, it having been executed by Mr.
M. Noble, on a commission soon given after Mr.
Brotherton's death, on behalf of some of his personal
friends and admirers. Tae bust is of white marble on a
pedestal of black.
LORD FITZHARDINGE'S WILL—The Bristol Mercury
says :—"Wit.h regard to the late Earl Fitzhardinge's
will some particulars have transpired. The property
almost in its entirety, so far as any member of the family
is concerned, passes to Admiral Sir Maurice Berkeley.
We believe we are right in saying that none of the
younger brothers benefit in any way, Mrs. Berk ,r
comes in for a handsome share. She is left 20,0001. in
cash, an annuity of 1,0001., German Cottage, Chelten-
ham, the villa she at present holds in that town, and
Acton Hall, near Berkeley. To each of her children is
left 2,0001., besithe a cemaiissieu in the Rifles for one
son and a living in the church f,r anetber. Mrs. Bunn's
fertuces weed-1 seem to have been on the wane, as she
only gets 1,0001. and 7001. p2r annum. We are told
UM one con.iit:on att,L.Jilcd to the bequest of Act )11
to Mn.a Barker was, that she sbculd sell it to Sir
Maurice Berkeley if ho wished to pessess it, and that be
has purchased it of her." The G/evseete• Jourea/ says
—" We understand, also, that the deceased has be-
queathed 10,0001. to Mr. Moreton Berkeley ; a gun,
and some other trifles, to Mr. H. Berkeley, M.Y. ; aud
his yacht t) Mr. Augustus Berkeley, whe,
since sold it. Nut a shilling has been left to any of his
dependent', high or low, and it may be added that the
do of o household servants at Berkeley Caetlo have s
beandischargei." it is said, has