The Sun.
London, England, 1857-10-10 00:00:00

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41 A.
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LONDON, THURSDAY, OCT. 10, 1857.

We have already commented on the serious
consequences resulting from an increase in the
minimum rate of discount. We have not, how-
ever, by any means seen the worst as yet ; and it
is more than probable that further restrictions
will speedily be added, so that it will be impossible
for even the most solvent and respectable houses,
to obtain the requisite pecuniary facilities for
conducting their business. The return from the
Bank of England for the week ending the 3d inst.
is of a very unfavourable character. The reduc-
tion in the stock of bullion during the week
amounted to no less than 613,396/. while
the decrease in the reserve is far more
than double that amount, being no less
than 1,408,1201., while the " other securi-
ties " have increased by the enormous sum of
2,116,1431., and there is an increase in the nates
in the hands of the public of 805,155/.
It may be said the large amount of other secu-
rities proves the liberality of the directors, and
the great assistance which they have rendered to
the trade and commerce of the country. But it
is not so. No less than 1,000,0001. sterling has
been advanced to the East India Company, and
it is this heavy loan that has increased the rate of
discount and occasioned so much confusion and
dismay in monetary circles;, and as the Company
still possesses a borrowing power to the further
extent of 1,500,000/., it is more than probable
that the operation will be repeated ere many
weeks have elapsed.
On Monday we expressed our belief, nothwith-
standing the vapouring assertions made on behalf
of the East India Company by Mr. VERNON
SMITH, just before the prorogation, to the effect
that they had ample funds to carry on the war
until next February without contracting a loan,
that the Directors had taken too sanguine a view
of their resource and -that they mu-t borrow,
and that to no inconsiderable amount. The accu-
"47 of our opinion has already been fully verified.
They have been obliged to borrow from the Bank
of England I Lord CANNING has been trying to
raise money in Calcutta, and Sir JOHN LAwnENCE
has done so in the Punja.ub. What then can we think
of the statements that have been so strongly put
forward but a few short weeks since ? They must
have been either tvilf ally false, or tho
Company
must be singularly bad financiers, ineapableof form-
ing a just,eatimate of the true state of their afriirs.
The Directors of the British Bank are to be placed
on trial for a similar erroneous account of their
affairs, which has been rendered a misdemeanour
by the act of last session. It is true that the
Leadenhall-street magnates have not sDught to
obtain money from their dupes, but they have
deceived the Parliament and People of Great
Britain, and proved that they are not to be
trusted with the administration of the affairs of a
mighty kingdom.

The charges which they are now creating
must, as we stated on Monday, sooner or later
fall on, the Exchequer of the United Kingdom,
when the anomalous double Government is abo-
lished, and Hindostan becomes an integral portion

of her MAJESTY'S dominions, under the direct
rule of Queen VICTORIA and her responsible
Ministers. Why, then, should Parliament not' be
consulted on a matter of such vast importance to
every taxpayer throughout the length and breadth
of the land ? Why should not a loan be con-
tracted, with a national guarantee for its redemp-
tion ? By these the requisite funds could be
obtained, at 31, or at most 33- per cent., which
otherwise will cost fully 6 per cent., an important
difference when " the little bill " is presented for
payment. It will thus be obtained in a legitimate
and straightforward manner, and there will be
no addition to the monetary derangement, which
must be the case if the Bank is again resorted to.
Mr. SMITH carefully abstained from presenting
an Indian Budget during the past Session. Had
it been otherwise we might have obtained startling
information, that would have frighted the Isle
from its propriety. We know that for several
years previously there had been a deficit, which,
in 1853-4—the very year when we gave the Di-
rectors a new lease of power—amounted to more
than two millions sterling, and in 1854-5 to more
than one million seven hundred thousand
pounds, and in 1855-6 to nearly a million.
What, then, must have been the falling off
since the commencement of the outbreak, when
the treasuries were plundered of their contents,
and the collection of revenue through a vast tract
of country seriously impaired, if not altogether
suspended, and a vast increaase of military expen-
diture coincident with the deficiency in the
revenue? We know what the operations in the
Crimea cost the nation. We know that Indian
pay and allowances far exceed what was paid to
our soldiers during the Russian war. We may
then form a rough estimate of what may be re-
quired for crushing the rebellion and restoring
the British authority in India.

Would it not be well for the Directors of
the Company to meet the emergency boldly
and fairly To state their case unreservedly
to Parliament and demand the necessary aid.
They may be assured that loans of one or two
millions from the Bank of England will not suf-
fice, although they may be productive of very
disastrous consequences to the industrious classes
in this country. An autumnal session is rend-
dered imperative by the suppressio yeri of the
East India Company, if there were no other cause
—and there are many—to render it both politic
and expedient.

Murders have recently been committed to a
frightful extent in this country, generally arising
from the dastardly use of the knife—au un-Eng-
lish weapon, used in an un-English manner.
Scarcely a days occurs that we are not horrified
by some sanguinary ontrage, ending in the death
of the victim. Many, too, under circumstances
of peculiar and cold-blooded atrocity, showing an
amount of heartless deliberation on the part of
the assassin. It is scarcely necessary to refer to
the murder of the unfortunate woman, CHARLOTTE
PUGSLEY, in the Leigh Woods, near Bristol. The
person charged with the offence was her affianced
husband, who had brought her from her master's
house under the pretext of marrying her. Of
course we do not mean to say anything as to his
guilt or innocence. It must be fully investigated
before a competent tribunal, and we shall be truly
rejoiced if he can exonerate himself from the foul
accusation.

Again, there was the homicide at Birkenhead, I
the fratricide in Liverpool, where one brother
took the life of another in a quarrel which took
place when the victim was defending his aged
mother from the violence of her unnatural son.
Then came the alleged parricide at BramalJ,
committed under the most awful circumstances.
This was speedily followed by the Balls Pond
murder, in which the husband of the victim
is accused, and yesterday a discovery was made of
a murder as yet involved in mystery, but attended
with the most revolting and horrible circum-
stances.

In most of these deeds of violence the knife was
the weapon used. CHARLOTTE PIIGSLEY had her
throat cut and was also shot. The Birkenhead
homicide was a case of stabbing arising out of a
common street row. At Liverpool, it was also a
case of stabbing, the fatal facility afforded
by the knife, leading one brother to imbrue his
hands in the blood of another. At Braman it
was by firearms that the murdered man perished,
but Mrs. Davis had her throat cut, and the latest
and unknown victim was stabbed iu several places
both in chest and stomach before the horrible
mutilation of his inanimate body.
Nothing slue the days of GREENACRE has ex-
cited so great a sensation as that which was yes-
terday brought to light at Waterloo-bridge. The
body—manifestly that of a person having the
appearance of a gentleman, from the clothes
which he wore at the time of the murder—bad
been cut into more than 20 pieces, beside which
the head, hands, and feet were wanting. The
bones of the legs and arms had been rudely sawn
asunder, and the greater portion of the flesh re-
moved. This had been pickled, to prevent decom
position, until a favourable opportunity cc-
curred of disposing of the mangled remains.
There were, likewise, no less than nine stabs,
seven about the region of the heart, and two in
the abdomen, any one of which would have proved
fatal. These ghastly evidences were packed up
in a carpet bag, and the murderers, or their accom-
plices, manifestly thought that they had succeeded
in disposing thereof in the river. Fortunately,
however, it rested on one of the abutments of the
bridge, and the fact of the awful outrage was thus
revealed.

Everything that has cone to light proves the
fiendish ferocity and cunning exercised. We
trust, however, that the latter may not suffice to
screen the blood-thirsty assassins. The Police
have already a clue which we have no doubt they
will follow up with their usual sagacity, so that
the majesty of the law may be vindicated, and
another illustration afforded of the futility of the
attempt to hide such deeds of darkness, and of
the apparently trivial causes by which the most
artfully contrived schemes for concealment e
frustrated.

Count Baptiste Metaxa bad an interview with Mr.
Secretary Labouchere yesterday. Sir E. Head and Mr.
Gisborae had also interviews with the right hon. gentle.
man at the Colcnial-office.
FUND FOR TH Z RELIEF OF THZ SUFFERERS Ey THE
m urrisy DJ INDIA. —We are requested by the Lord
Mayor to give publicity to the statement that the num-
ber of letters which are daily received by him from all
parts of the kingdom, containing remittances in ail of
thii fund, is se great, that two or three days must
necessarily intervene between the despatch of the remit-
tance and the receipt of the acknowledgment of the
regretca to statathtetehpethi:tili
Committee
EARL FrrZHARDINGE —We (Ch,eltenhani Examiner)
of the manontnageiDngr.
tßiarni
yesterday tion
Of
we are compelled to defer the publ.•
promised report ocfhtuhrecbs.erniionnthdeelcioveurresde
melancholy intelligence
message frlin E,r-
keley,
Fitzhardinge was rapidly sinking,
intelligence that Earl
would, in all probability,yta i
e p
eanidn tthhaetechuiLdeoaftha
very few hours, and the doctor
to devote the necessary time in revisingwa?onsequently unable
sermon. In the course of the morning an the report of his
was offered up for the sufferer, and we believe 11 affecting prayer
r. Brown
at once proceeded toßerkeley, to be in attendance
he be sufficiently collected to render hisserviceasT should
PHEASANT SHOOTING.—The reports from theesieroavbi' •
are, that there are plenty of pheasants. The woods haveere
assumed a russet appearance, hut the foliage is yet very
thick and heavy, and it wid require an expert shot to
bring down a "longtail."—Kent Herald.

Tz E S
U N_ i 41 t

LATEST NE S.

INDON, SA TITR;

7ENI

varisti (O'Donnell's pa,rty) have resolved to sup-
port any Ministry that may be constitutional."

The Agr•am Gazette of the 24th ult., says :
" The inhabitants of Vassowiz are taking up arms
to resist the Turks, but they are too weak, and
will be compelled to make their submission to the
Sultan. The Montenegrins will not be able to
come to their assistance, as the distance from Cat-
tinge is too great. The Turkish authorities have
closed the commerce of Gusin tithe inhabitants of
Vas3owiz, so that they cannot sell their cattle to
procure bread. A new military corps has been
formed in Montenegro, to be called the Guard."

A Vienna letter in the Kuremburg Gazette
states that Baron de Hubner, Austrian ambas.sador
in Paris, remitted to the Emperor Napoleon, at
Chalons, an autograph letter from the Emperor
Francis Joseph, relative to the Principalities and
to the reciprocal concessions which might solve
that difficulty.

The Duke and Duchess of Montpensier arrived
at Turin on the 7th. They were received at the
station by the Prince of Carignan and by Chevalier
Souza do Portugal, the Spanish Minister to the
Court of Sardinia.

The official journal of Stuttgard publishes the
apostolic letter by which the Pone confirms the
convention_agreed to between the Holy See and
Wurtemberg.

AMERICA.

(Bt ELECTRIC TELEGRAPH.)

LIVERPOOL, SATURDAY MORNING.

The British and North American Royal Mail
steam-ship Persia, Judkins, commander, has ar-
rived with advices from New York to the 30th ult

She brOught 2001. specie on freight.
On the Ist inst., at 10.45 a.m., lat. 40.42 N.,
long. 69.30 W., the,Persia exchanged signals with
the Royal Mail steamer Arabia ; and on the 7th, ai
2.30 p.m., in lat. 50.95 N. long. 25.51 W., passed
and exchanged signals with the Royal Mail steamer
Asia, hence for New York.
At New York the negotiation of mercantile paper
at bank and note-brokers' offices was extremely
light and at very irregular rates ; highest grades of
paper were discounted at 2 to 3 per cent. per
month, while very good endorses notes changel
hands at 5 to 6 per cent., and even at more exorbi-
tant figures under peculiar circumstances.
On the 29th a conference of the leading bank
officers was held, which resulted in a resolution to
recomm,2n.d an immediate increase of loans and
discounts to the extent of 3 per cent.
The Exchange market, both foreign and domestic,
was very much deranged; it was difficult to sell
sterling., especially produce bill;, some of which
were disposed of at 100, while bankers' brought
105 to
The New York Courier and Inquirer of the 30th
says:--

"Thus far the suspension extends to the Banks of
Philadelphia, Lancaster, Pittsburg (the Bank of Btts
ourg only excepted), Baltimore, Cumberland, Norfolk,
Wheeling, and Wilmington,
and the interior towns
generally of those States, Providence, and all the provin-
cial
banki. It wi'l be ob,erved that the suspension haQ
been earliest in those places having a redundant batik
Jirculation. This is the weak point in American bank-
ing, and one on which banks throughout the eouotry
4eneially fall. At New Orleans and St. Louis, where
:egis'ation provides for an enlarged specie basis, their
banks will not come int) the measure of suspen-
iion. New Orleans has 6,000,000 in specie against
t. circulation of 8,000,000; St. Louis has 3,000,000
in coin, to meet a limited circulation ; while
Indiana, and Wisconsin are more jai tted, their issue,
oeing based upon State bonds, now depreciated 15
30 per cent., instead of gold and silver."

Various calls had been made by the western
hankers for specie from New York to enable them
to sust tin themselves. The banking-houNe of E. J.
Tinkham and Co., Chicago, had sopende..] payment
on the 29th. Messrs. Darby :and Rtrksdale, and
wttssrs. John J. Anderson and Co., suspended at
St. Louis, temporarily only, it is believe 1, both
houies having capital and establi,hed credit hitherto.
The New York Courier and Inquirer says :

"The suspended banks at Philadelphia and Baltimore
are gradually settling thenaselves down upon a non-
specie currency, and movements for the next 12 months
will be regulated, in the first place, by the legitimate
demands upon theta by their merchants, and, secondly,
oy the means and measures essential to a restoration at
in early day. Of a resumption there is no hope under
12 months."

Of exchange, the New York Shipping List Stays

"On account of the unsettled qat:, 'of money affairs
not; much 'has been done for the P,r,ia. There have
been plenty of sellers of bills in the market from bankers
is well as shipping firms, and we quote prices with a
large range. The transactions in continental bills have
been very limited, but sales have been coni,lersb'y
lower. We quote bills on London, 4to 6. The bank
statement was generally considered a favourable one,
although there was a slight reduction of the specie item,
owing to the liberal drafts made to eastern banks. The
returns do not include those tram the Island City
Bank—a small and weak institution which has gone into
is made for the ahseric
decrease in the deposits
(l)ifq
the
art teopno. r t NoVf ht
to:1i abl laonwka, ntchee
was only about 100,000 dollars."

- -
The Stock Market was better; prices advanced
York Central, ; Elie,
nt;raNl,el-wi ; Michigan Southern ,1 ;
under the belief that the banks would act
; Chicago and Rock
har-
moniously and liberally from this date. Missouri
GialeTnoaleadnod Clhicago, 1. The following
quotations for stocks :--Virginia
11x;esiviimicphriogvanedcle
areleavntedhl t:en3dil
a;anteis t
Sixes, 70 ; Missouri Sixes, 671 ;New York Central,
61 ; New York and Erie, l 31; Reading, 36 ; Mich'.
gan Central, 45i ; ditto Southern, 17 ; Clevelancl
and Toledo, 301 ; Panama, 70 ; Illinois Central
Shares, 85 ; ditto Bonds, 77 ; Cicago and Rhode
Island, 67k ; Milwaukie, 21; Galena, 66 ; Cleve-
land Pittsburg, 9,
The owners of the Vanderbilt stated that they
had ad.vices of the engagement to come by her en
her next homeward trip of 2,500,000 f. in kill
The Board of Brokers had rescinded their recent
resolution limiting time sales to 30 days and under,
and extended time contracts to 60 days. •
The Philadelphia North American, of the 29th,
says
There was a much better feeling in the money
market to-day. After several conferenc?s among the
presidents of all the city banks yesterday, it wts
determined to suspend the payment of epecie on
notes of all denorninations...to issue their own notes,
including the smaller denominations, for cheques and all
other obligations—and to increase the line of discounts
with a view to immediate relief, while maintaining the
purpose of a resumption of specie payments. It was
also determined to admit the Bank of Pennsylvania to
equal participation i;; this arrangement, upon the fort-
guieg conditions. This is the only step the banks have
taken that have exhibited the concert and spirit of mu-
tual conciliation which the occasion demanded, and it
has been followed by a cheerful rally that must be
productive of great benefit."
The Governor of Pennsylvania has issue] a pro-
clamation convening the legislature in response
to
a general sense of its necessity arising from the sus-,
pension :of specie payments by the banks and tho
pervading derangebient inlinsiness affairs. Time
west and south were generally bare of exchange.
The panic in Philadelphia and further north led to
the suspension of specie payment by all the Balti-
more banks. The American, of that city, says—
" The immediate effect of the suTension was to
brighten the aspect
of eAninercial affairs and relieve the
apprehension so cnistaot:y prevailing for the past
month."

and an advance
The price of money fell from 21 0 115- per cent.,
of prices occuired at the Stick
Board. The disasters that flirt ate:Jel the business
community had thus been arreiod, and the general
feeling among the merchants was on: .of approval
of the catirse ad4p ted by the; Banks. The Boston,
Post says :

" Our money market, ai f,:r as our banks and ap-
proved bank custorn,rs are concerned, is now on the
verge of improvement."

Cottons remained inactive, and
prices were no-
minally the same. The stock waareducel to an un-
uivally low figure, and there was no dispositionou
the part of holders to reali,e. A further decline in
whet has occurred tr, the extent of 10c. to 1o:,.
Flour had declined,
"in„ to the necessity of re 11.-
ising as much as 40c. to 50c. in three clays. On the
29th, however, there was an increase) inquiry
for export, prices havin, fallen within shippers'
liming, but the difficulty attnding the (1111(3;
sale of ex-
ch :nge opera' el to check trans:lotions and deran,,-4e,
1
the market. Iron was quiet. Sugar irregular. 0-
bacco boamial. Freights dull, bat without change.
DAtes from Vera Cruz are to the 22d , and front
the city of Mexico to the 19th ult. The charter
f the new Tehuantepec Cornpatry required them to
finish ttn leagues of the railroad every year ; Ole
dykes of the Coa!zuealcoa and Veutosa are to be
cJtop!etad the first year.

SINGULAR vRDER.-A, tradesman c‘f Thigg 13t'IY
rce,ived an order for 100 gamecocks and 40 greylic,ufld
dogg. Formerly
he was s y
ceLence of his bread. Not knowing the parties he con-
s:dere(' the order a hoax, and was railer astonished about
a w eck after to reesive a visit from ono of the partici,
oewhat celebrated f,r the
who assured assured him the order was a bona fide one, and the
number of each of the best breed was wanted for txpor•
t ttion to the continent.

(

OCTOBER 10,

TEE RANK OF FRANCE.

The following is the monthly debtor and creditor
account of the Bank of France; made up to yester-
day (Thursday) :

Ca. Fr. c.
Cash and ingots
Cash at the branch banks
Bills due yesterday to be paid to=day 790,900 27
Bills becoming due in Paris
Bills in the branch banks
A.dvances on coin and ingots 2,112,400
Do. in the branch banks
Do. on public securities of France 23,305,836 10
Do. in the branch banks
Do. on railway shares arid bonds 19,130,800
Do. in the branch banks
Do. on Credit Foncier Scrip . 139,300
Do. to the State by treaty of
June 30,' 1848
Rentes of the reserve fund 12,980,750 14
Rentes of disposable funds 52,189,482 3
New Shares, not settled'
Hotel and furniture of the Bank _
Real property of branch banks
Expenses of administration 1,141,510 4
Premiums on the purchase of matieres 949,656 8
Sundries 451,124 45

1,094,126,238 96