The Sun.
London, England, 1857-11-09 00:00:00

THE ATLANTIC TELEGRAPH.

(From the Deily News.)
A new light has broken in upon the Times. It
has at last discovered that, the revolt in Hindostan
is something more than a mere mutiny of the
soldiery. " The peasantry have not, indeed, joined
them, but it is more than probable that a rich and
influential class has not been unwilling to profit by
the misdeeds of the soldiery." The Times hasalso
become aware that the suppression of the revolt is
likely to be a somewhat expensive process, and that
the financial operations to which the magnates of
Leadenhall-street have found it necessary to resort
have contributed to aggravate the present monetary
crisis. " The cost of the Indian struggle has no
doubt added to the difficulties of the present finan-
cial crisis. We are told that three or four millions
sterling in specie may be considered to have been
remitted to India since the outbreak." To the
general publicthere is not much of novelty in these
announcements, which we have culled from the
Times of Saturday last ; but it is something new
to find such statements in the columns o that
journal, which has hitherto affected to pooh-pooh
the insurrection in Hindostan, and to ignore the
magnitude of the financial operations to which it
has led, and their disturbing influence on our
home money-market.
It is nothing new to witness the Times, when a
novel discussion is raised, adopting at first a view
of it equally irreconcileable with facts and with
common sense, and then, when compelled by the
pressure of public opinion to embrace the opposite
side, endeavouring by exaggerated emphasis to
efface the recollection of its original blunder. Such
a common occurrence would probably have been
passed without comment, but the " device" which
the Times would persuade Government to have re-
course to, with a view to meet the exigency, is so
utterly irreconcileable with justice or sound policy,
that in order to account for its being broached the
state of mind of the author requires to be noticed.
The Times, panic stricken on being suddenly
awakened to a sense of the full danger of the Indian
revolt, has recommended a measure which its own
sound judgment will denounce as soon as the dis-
turbing influence of terror has been allayed by
time.
To the Times, looking round for the means of de-
fraying the cost of the Indian revolt, it has occurred
the: there are fortunes made in Hindostan
which would be considered immense even in
the City of London. "The Baboo bargains
and speculates, and scrapes and saves, until he
has amassed millions of rupees." The Baboo, there-
fore, because he has accumulated millions of rupees,
may lawfully be plundered, according to the Times,
to obtain the means of paying for the suppression
of the revolt. Our contemporary appears to be
haunted by a dim consciousness that the proposal
is rather outrageous, for it not only begins by
working itself up into a passion at the Baboo, by
placing his accumulation of fortune in an odious
light through the application of dialogistic epithets
to the act, but it beats about for some plausible ar-
guments in favour of its plan. The taxes of the
Baboo, we are told " are next to nothing," while
the heavy taxes of the country " all fall upon the
unfortunate ryot." It is also insinuatad that the
Baboos may have had something to do in getting
up the insurrection:—" It is more than probable
that a rich and influential class have not been un-
willing to profit by the misdeeds of the soldiery."
And, to remove any scruple that these imputations
and inuendoes may leave remaining, it is boldly
declared that "if the loyal suffer with the
treacherous, it will only be in a xordance wi h the
inevitable law which links together for good or
evil all meer.bers of the community." The Times,
having thus silenced any faint whispers of con-
science that may have disturbed it, proceeds to in-
dicate the modus operandi, the process by which
the Baboos—guilty of bargaining and speculating,
of scraping and saving—may be squeezed, and com-
pelled disgorge a portion of their accumulated
t o
wealth. " Perhaps a Property Tax, extending the
burden over a series of years, would be the simplest
and most equable device ;" or, it may be necessary
to suspend specie payments ;" or, lastly, new ex-
pedients for raising money" may be required. The
Times is not particular. Provided that money can
be extorted from these villanous Baboos, who have
been graceless enough to do in Calcutta what the
Times a few !days ago lauded the late Mr. Mor-
rison for doing in Loudon, any means conducive to
that end will meet with the approbation of our con-
temporary.
Now, we would humbly submit to the favourers
of ties notable financial scheme, that in the first
place it is bad policy to teach men to regard t txa-
tion and puniehineut as synonymous terms. Taxes
are its all points of view sufficiently disagreeable
without being presented in the character of a
penalty. If a more equitable system of taxation is
required in India—and we heartily believe that it
is—let it be adopted on its own merits, as an act of
justice, not inflicted as an act of vengeance. Then as
regards these "favourits aversions" of the Times—
the Baboos—we would further represent, in all
humility, that the charge of favouring the revolt is
not very clearly brought home to them. The syllo-
gism by which the Times seeks to establish their cul-
pability is nearly as follows : "It is not improbable
that a wealthy and influential class has not been
unwilling to profit by the misdeeds of the soldiery."
The Baboos are a wealthy and influential class.
Emo—the Baboos have profited by the misdeeds of
the soldiery. The
premises will scarcely bear out
the conclusion. Next, as to the subterfuge, that,
" if the loyal suffer with the•treacherous, it will only
be in accordance with the inevitable law, etc.," we
humbly conceive that this is a fallacious application
of the doctrine of necessity. If the Baboos are to
be squeezed by a special act of the Government,
their suffering from it can scarcely be regarded an
unavoidable participation in the suffering entailed
upon society by the acts of the Mutineers. The
Baboos will in that case have been singled out to
undergo additional suffering. Nov it must be borne
in mind that throughout India the capitalist class
have, with scarcely any exceptions, acted as our
nfruiemnbdesr by outliine
injustice
ent occasion. Have we so few
l)
enemies there that we can afford to add to their
teot; aNcolr ts whhisoaslle .wTeahletheznatoarY
make them dangerous -
tn which
tiot is proposed to practice on the Baboos
cannot easily be restricted to them. Is the penal pro-
perry tax
alone ? Are European capitalists in India to be ex-
be imposed upon native capitalists
empte 1 ? or are they (as was the case of the English
newspapers sween the • Gagging Act was passed)
to be subjected to the penal property tax, to show
the impartiality of Government ? Of tie pro-
posal to suspend specie payments, in a country
where the circulating medium c 'insists exciusively
of specie, it is not easy to-speak with becomine•
gravity ; but we may be allowed to ask whether the
European or the native capitalists would be the
greater sufferers from a paper currency with a
forced circulation, and consequently with a depre-
ciated value ? The scheme by which the Times
would meet the extraordinary charges entailed by
the revolt upon our India Government is unjust,
because it would be de facto a confiscation of the
property of innocent natives and of European mer-
chants settled in India. It is impolitic in a finan-
cial point of view, because, being au arbitrary in-
terference with thenatural course of trade, it would
dry up the sources of production in Hindostan. It
is impolitic in a political point of view, because it
would coevert into bitter enemies the most friendly,
wealthy, and intelligent class of the natives of
bdia.

The reckleenem displayed by the writers in the

The long aid most tedious process of winding
&his enormous length of cable from out the holds of
the Agamemnon and the Niagara has been com-
pleted, and the Atlantic telegraph, like a monster
snake, is about to hybernate for the winter at
Plymouth, in the Keyham-yard. A large shed has
been specially built for its reception ; it is 120 feet
by 50 wide, and divided into 4 water-tight compart-
ments ; so that the perfect insulation of the whole
length can be tested under water whenever it may
be deemed advisable.
The Agamemuon will go into harbour, and the
Niagara has returned to America, where various
alterations suggested by the yxperience of the late
attempt will be in her internal fittings, that no
mechanical aids or conveniences may be wanting
to the proper accommodation and paying out of
her portion of the coil. It is expected
that she will return to this country in the
early part of next year, again to bear her
part in the great undertaking under better
auspices, and, we most sincerely trust, with better
results. In the meantime, during the whole of the
winter, Mr. Whitehouse, the chief electrician of the
company, will te engaged in a variety of experi-
ments of the most interesting nature upon the
cable. Not only will these be directed to ascertain
its general electric capabilities, but the rate at which
each signal can be transmitted, and the effect which
the different periods of the day, the temperature,
and state of tee atmosphere, have upon its conduct-
ability. The result of iese experiments must
assist in solving a number of curious electrical phe-
nomena, of the real causes for which very little is
at present known, and the observations of so emi-
nent an electrician as Mr. Whitehouse cannot fail
to be of value and importance to the advancement
of our knowledge on the subject of voltaic currents
through such a coil. The results ought to be great,
for never yet had any man such a gigantic appara-
tus placed at his command for experimeutalteing as
this 2,000 miles of submarine cable affords. The
300 or 400 miles of cable which last August were
so effectually submerged off the west coast of Ire-
land still remain at the bottom of the sea. Much
of this piece, and very possibly half of it, might
have been recovered had the attempt been made at
once after the return of the expedition, but now the
chances in favour of the recovery of any portion
worth mentioning are much diminished. Never-
theless this 300 miles are not uselese, and in a
scientific point of view have, not been lost or
wasted, for the changes in the electrical condition
of the wire are constantly watched night and day,
and will be used for the purpose of throwing addi-
tional light on the subject of terrestrial electro-
magnetic currents. Many precautions and improve-
ments suggested by the first unsuccessful attempt to
lay the cable will be introduced into the plan of
operations for the next year. In the first place it
will be attempted earlier,—most likely at the end
of Jine or beginning of July, so that in case of any
hitch occurring thare may be ample time to repair
it, and still leave August open fa- another effort. Of
course,the same description of cable will be used for
its kind it would be difficult, if not not quite impos-
sible, to devise a better. For a wire covered rope it
possesses in a most astonishing degree the import-
ant qualities of lightness, strength, and perfect
fl xi-
bility. The expedition started with about 2,600
miles of this cable last summer, of which about 400
have been lost. Last week the strand and closing
machines of Glass and Elliott were again set to
work to make up this deficiency of 400 miles, but
in all it will be necessary to spin 800, as it has been
determined not to start again with less than 3,000
miles clear. This extra amount, however, is only to
meet any unlined emergencies that may arise, and
not to allow for slack, as the sin filer the quantity
of slack payed out the safer will be the process of
submerging, and the greater will be the ease with
which the telegraph can afterwards be worked.
But it is principally to the improvement of the
paying-out machines that the efforts of the com-
pany have been directed. Lost year these machines,
aided by censiderable obstinacy and rashness,
ruined the whole p'au, and, the steed being thus
effectually stolen for the present, the most tremen-
dous precautions are now being taken to bolt the
stable door. The machines are being made under
the spetial advice and directions of Mr. Penn, Mr.
Field, Mr. Lloyd, and Mr. Everett, the chief engi-
neer of the Niagara. Messrs. Easton and Amos
have been intrusted with their manufacture, which
insures all that skill and experience can effect in
their solid construction. With the details of the
plan upon which they are to be made we are not
yet acquainted further than that they are especially
contrived to guard against the strain on the cable
caused by the sudden pitch of the vessel, and also
that the break in the wheels will be perfectly self-
acting, and so made that it will be impossible to
place upon it more than about one-third of the
strain which the cable can safely be relied upon to
bear. Instead of submerging the cage from this side
of the Atlantic, it has been decided to commence
operations by uniting the ends of the two halves on
•boardethe Niagara and the Agamemnon in the
centre of the ocean, and each vessel then making
the best of its wayeto land. The former ship will
steer to these shores, and the latter to Newfoundland
By this plan the operation of laying the coil will
be got over iu exactly one half the time which it
must otherwise occupy and we need scarcely say
that anything which diminishes the time lessens
the risk from bad weather in exact proportion.
The opponents of this plan are to be found among
the deep sea fi-hermen, who generally prefer the
plan of laying down the cable from the Ne w World
to the Old, and who advance, among other reason,
the fact that the set of the Gulf stream is in this
direction, and that it would be better for the ex-
pedition to have the current in its favour than
against. But, as we belive, the iufluence of he
Gulf stream does not extend below 70 fathoms
depth, one is at a loss to see how it can affect an
undertaking to submerge a cable to the depth of
more than 2,000 fathoms. A more reasonable ob
jection lies in the fact that in the centre the cable
oaust-bejoined, and that it has been determined
not to join with a five mile centre of steel wire,
which would give it tenfold strength at this point.
When to tills deficiency we add the fact that the lay
of each piece of cable is made in a different direc-
tion, and that one portion forms a right and the
other a left hand screw, each of which helps the
other to untwist, we cannot, however reluctantly,
help, Seeing• that this joining in the ctntre is a blot
in the whole scheme. Of course, a plan (according
to which a heavy square weight is to be attached to
the joining) has been devised to prevent the wires
untwisting if possible. But a weight at this junc-
tion is a most serious danger, though we are told
that the whole mistake offers so many and such
important "advantages" that it reminds us forcibly
of the plan which an inhabitant of Laputa had
projected, and by which he cut cabbages better,
quicker, and cheaper than by any other method ex-
cept the ordinary one of cutting them with a knife.
So also our admire ion is solicited for this blunder,
as turning out, after all, better and safer than any
other method in which it could be done, except that
of doing it properly.
There seems an unusual demand just now for
submarine cables, no less than five or six cables for
different places and Governments having been
lately cpmpleted. Nearly all of them have been
made by Glasse and Elliott. One was for the
Swedish Government ; one for the Danish, to con-
nect Denmark with Sweden. One to connect
Ceylon and Colombo on the main land ; and one
to join Kurrachee with Calcutta. In nearly all
these cases the conducting wires have been formed
in the same manner and of the same sized wires as
in the case of the Atlantic Telegraph, and all of
them hispl4 the same admirable coiletruction as to
lightness, strength, and durability, more or less
strongly according to their lengte and the depth
and nature of the sea in which they are intended to
discharge their submarine duties.

CRYSTAL PALACE.—llalfcrown-day, Saturday, Nov.
7.—Admisaions rn payment, il2; do, by season ticketP,
1,207 ; total yisitoro, 1,719.

Namo of Company.

flungerford .... •• ....
Southwark ..........

Ditto New of 7% p.c.
Waterloo ••
Ditto Old Ann. of 81.
Ditto Nw ditto of 71.
Vauxhall

Name of Company

Commercial ..........

Do. Preference
East and West India..
Grand Awry D. $; Canal

Do. Loan Notes

Do. 5 per cent. Pref.
London .... .......
it. Katharine ........
qouthampton •• •• •• ••
Victoria •• •• •• •• •• ••
Ditto New • • •• •• .•

Name of Company,

Albion ....•• .... • • ..
Brit. and For.

Dividend
per

Annum.

71. per cent
51. per cent.
21. per cent.
21.
61 per cent.
4/. per cent
101. per cent.

Ditto Marine .......
Itherueum ..........
Atlas ..
trgus Life ...........
Brash Commercial ..
Church of England ..
City of London .. • •
Clericl.Med.& Gen. Life
Crown ..............
Eagle
Equity and Law......
European► Life.........
Family Endowment ..
General ....... .
Globe
Gresham Life

Do. Do ......
iluardian
Imperial Fire... • .
Imperial Life

Indemnlty Marine
Law Fire
Law Lite..... ••
Legal and General Life
London
London & Prov. Law
Med.lnvlict & Gen. Life
Minerva .... ••
Monarch • • • ..
New Equitable
Pelican •• •• •• •• • • •• ••
Phcenix ." ••.• • • •
Profesflonal Life • • • •
Provident Life.— ....

Rock Life............
Royal Exchange ......
Sun Fire ....,,

Ditto Life .....
United ;Cingdotn ....
Universal Life
Victoria Life •• .

31 ss.
4/. I",s.
41. 10s.

61 per cent
5% per cnt.
51.
It/. per cent.
165 0(1 per sh.
7 per cent.

103 per cent)

11. 12s. Od.
11. iis. Od.
28s.

DOCKS.

Dividend
per

Annum.

51. pr cent.

:K COMP.

Amount

Share.

£ a. d.
20 0 0
20 0 0
150 0 0
50 0 0
23 0 0
10 0 0
SO 0 0
So 0 0

Stock
10 0 0
50 0 0
50 0 0
50 0 0
40 0 0
25 0 0
60 0 0
20 0 0
10 0 0
50 0 0
50 0 0
50 0 0
to 0 0
10 0 0

X e. d.
25 0 0
100 0 0
30 0 0
100 0 0
60 0 0
40 0 0
70 10 3

Amount
of
Share.

Paid. 1 Prii

61. pr cent.
41. per cent.

Name of Company.

51. pr cent.

14%1. per cnt.
4 per cent.
51. Os per C.

s. d.
Stock.
Stock.
Stock.
100 0 0
100 0 0
25 0 0
Stock.
3tock.
50 0 0
20 0 0
20 0 0

'RAN C' COMPANIES.

Dividend
per

Annum.

£ s. d
all

71. per c.
71. 148. 6d.
il. p.c. & bs.

Paid.

A I. d,

Paid. I Price.

£ s. d,
Stock.

00 "o 0
00 0 0
5 0 0

Amount
of
Share.

s. d.
500 0 0
100 0 0
1100 0 0
1 0 0
50 0 J
100 0 0
50 0 0
50 0 0
50 0 0
100 0 0
100 0 0
50 0 0
50 0 0
100 0 0
20 0 0
100 0 0
5 0 0
Stock.

50 -0
0 -
20 0 0 8'
14 0 0 -

Paid. I Pri

X a. d.
50 0 0 9;
11 0 0 11
25 0 0 4;
all

155.0 d. & bs
41. per cent,
71. 10s.
71. 10s.

5 pr ct.& bs.
It. per share
11 18s.
ss.
514 per cent.

41. per cent.
6 per cent.
51. per cent.

51. per cent.
la per cent.
14s.
ir. p. ct. &ha.
2s & 28 bons
%Ir. per sh
4s. per share

20 0 0
100 0
500 0 0
100 0 0
100 0 0
.00 0 0
100 0 0
50 0 0
25 0 0
50 0 0
.00 0 0
50 0 0
20 0 0
5 0 0
10 0 0

18s. & bs.
4% per cent
54 per cent
51. per cent.
6* per cent
51 p. ct.
51. per emit.
.51. per cent
12 per c.
7a
8 p c & bs
-1% p c & bs
1/. 14s
41. k bonus
51 & bonus.
.I;. & teams

6 5 0
00 0 0
6 0 0
Stock.

Amount
of

5 15 0 1
96 0 0
50 0
0 0
0 0
10 0 0 2
10 0 0 8!
5 0 s 1!
50 L
50 0
all

Paid. IPi

A a. d.
all
18 15 0
30 0 0
all
6 0 0
80 0 0.
25 0 0
20 0 0

20 "6
50 0
10 0
20 0
35 0
10 0
5 0
22 10

0 2
0 -
0 31
0 4'
0
0 -
0 -
0

11 - ------ , - ..ivv ', tr , nu u I) 1 --
1 ..IST OF SCOTTISH. COMPANIES' PRICES.
11
Dividend Amount
it Name of Company• per of Paid. Fria
r
--
S
.4 s. d. £ s. d.
I. Plank of Scotland .... 7i. per cent. 100 C 0 100 0 0 18870
g British Linen Company 81. per cent. 100 0 0 100 0 0 2.16/01
Caledonian Bank -.• . 81. per cent 10 0 0 210 031 17
0 City of illasgow Beak Si. per cent. 10 0 0 10 0 0 111'17
J. Clydesdale Bank -•• 5341. p cent. 20 0 0 10 0 0 13, 5.
C' minercial Rank .• .71. per cent. 500 0 0 100 0 0 2401 I
5 Eastern Bank-- - -6/. per cent. 25 0 0 10 0 0 14/ 0,
5 Edinb. & Glasgow.... 3%1. p cent. 5 0 5 0 0 41 16,
National Bank •• - - 61.6 per cent. 100 0 0 100 0 0 1901
- North of!;cotland Bank 51. per cent 20 0 0 210 051 101
1 Royal Bank ofScotl. .. 51. per cent. 100 0 0 100 0 0 13 file
Union Bank of Scot. .. el. per cent. 100 0 0 50 0 0 1001 0
)
Western. Bank •• •• -.. 71. per cent. 50 0 0 50 0 0 53/ 0
1 alliance Fire and Life.. 8%1. pr cent. 100 if 0 11 0 0 17112,
i British Guarantee ... 41. per cent. 10 0 0 2 3 0 1/ lls
r Caledonian Fire Incur . 10/.per cent. MO 0 0 10 0 0 24110 s
City of illasgew Life.. 61. per cent. 25 0 0 2 0 04/ •/s
Colonial Life ......... 51. per cent. 50 0 0 3 0 071 Os
1 Edinburgh LitP Incur. 61. percent. 100 0 0 15 0 0 281 7s
Eng. & Scot, Law Life bl.,ser cent. 50 0 0 3 5 04! Cs
Life Assoc. of Scotland 61. per cent. 40 0 0 3 0 061 13s
Nationa. Fire and Life 61. per cent. 10 0 0 1 4 021 0 s
North British Incur... 71. per coat. 200 0 0 20 0 0 171 Os
Northern Assurance Co. 20 0 0 1 0 0 1/ 14s
Scottish Provincial .... - 50 0 0 2 0 0 2/ 19s
Scottish Union Insrna. 7;41. pr cent. 20 0 0 1 0 0 1/ 153
Standard Life ...... •• 51. per cent 5O 0 0 7 0 0 261 10
MISCELLANEOUS.
: • Dividend ' Amount
Name of Company. per of ' Paid. Price.
Annum. Share.
' ---
..£ a. d. X s. d.
Acadian Charcoal Tron .. 10 0 0 2 0 0 -
African Steam Ship .. .. 20 0 0 10 0 0 -,-
Assam Lea .. --•.- 6'. Ter cent. St 0 0 20 0 0 -
Auctien Mart.. •• •• - 2141 per cent 50 0 0 - -
Australian A l'iculturl .- 25 0 0 19 0 0 22%
Australian Trust .... 81. pr cent. 100 0 0 25 0 0 -
tustrintan ',loyal Mail - 10 go o all _
Anglo-Mexican Mint.. 11. 10s. 10 0 0 all -
British American Land Si. per cent 50 0 0 40 0 0
Canada ... • • ...• •• .. ~i. per cent 100 0 0 32 10 0 125
Do. 5 per cent Bonds 51. per eem Stock 100. 0 0
Ditto, 5 per cent bds 57. per cent. Stock 100 0 0 -
Ditto. 6 per cent. .. 6/. per cent. Stock 100 0 0 -
perie
cent.se n t .
StockS o c k
110000
00
00 . .
.-.,
-
Dimittttoo:
66
pp
cc..
bdsbd 118877 6
64
611..
r
CrDysitttoal Ppraelafecreen,ce. .. .... ..
721.ppre.rcecnentt. 5
oo (c:
Ci
5 all
0 4
Crys. Palace of France _
4 0 0 all _
it. per cent. Stock. 100 0 C 98%
City Nuvigation Bonds 3%7. pei cent
Electric Telegraph .. - _
Er ;.8c (us. Cop. Smelt.
,leer cent. cnedn
It;
Eng.&lris. Slag. T. Co. 5 0 0 all -
Invest. 515.1 Pp
Equitable Iteversionry ,
leDni.tatce,Neerws.
&.. -
• ' - 50 0 0 22 10 0 -
Gen. I. Sc. Col. (Linn.) 0 0 sO :1 0 -
- /5 0 0 all -
Gen.iteatuNavigatior
London Gen.: 101.perct. & 15 0 0 14 T 1 23%
Omnibus 121. all 3%
anngerferd ..... .. 4 0 0
Hudson's
na......per cent
''' '• '• 51. per Cent Stock Stock
-
Loa. Ne. &Na. Si.anso. . _ .
London - 10 0 0 all
acrersionary 51, per cent. 15 0 o all
Mex. &S. American - 10 0 0 all -
Nat. Discount Comp.. - 25 0 0 50 0 ”i
N.S.W. Gov.sp.c. Deb. 51. per cent. - 100 0 0 -
Nor. Bd.' Australasian 6d. 1 0 0 all -
North of Europe, Star. 81. per cent. 20 0 0 17 10 0 -
Price'sPatenteaad.Co - 23 0 0 all -
Peel River. Land &Min. - 5 0 0 all -
Pen. & Oriental Steam. 7/. per cent 50 0. 0 all 72
Ditto New ..... ... - 50 0 0 io 0 0 - J
Reversionary Int. Soc. 1%1. pr cent 100 0 0 all -
Ditto New .. •• .... 0,21. pr cent. 106 0 0 20 0 il -
Royal Vail Steam,- it. P.
21.
5, .
,:00050000
000
000
110
aalloll 0
__
share. 100 0 0 if 0 C 583
Scottish Aus. Invest. 151. per cent. 1 0 0 all 114
South Australian Lane 77. per cent. 25 0 0 all -
Trust and Loan Cottle. 134.. pr cent. 20 0 0 5 o 0 -
Vaa Diemen's Land•• 100. 100 0 0 28 10 0 - '''
Gen,. 6 per cent. Muds. 6 per nett: : - 4 ... ..