The Sun.
London, England, 1861-01-22 00:00:00

INDIA.

THE BOMBAY MAIL,

By Cue arrival of the overland mail we are in
recelpic of correspondence and papers from Bombay
to I)o•Tember 27, and from Calcutta to Dec. 18. The
disc ontent with the income-tax has almost given
.wa'y before the storm of indignation that has arisen
/NI account of the monstrous grant of .£520,000
-awarded by Sir Charles `Wood to the descendants of
Tippoo Sahib, of Mysore. A meeting of native
dealers in piece goods was held on the 17th of De-
cember, and was attended by most of the principal
merchants, as well as by some Europeans. An
arrangement was made, by the terms of which it
was agreed that business should be resumed, the
Europeans consenting to sign a petition which had
been prepared, against the income-tax. There
were, accordingly, some large sales of piece goods
next day, and business is now very brisk.
The Bombay Gazette gives the following account
of the agitation on the Mysore grant :

The whole people of India, official and non-official,
European and native, have heard with deep and
bitter indignation the news that Sir Charles Wood
has, notwithstanding the spirited remonstrances of
Lord Canning's government, ordered that the sum
of £520,000, or more than half the produce of the
income-tax for this year, shall be paid to the pen-
sioned descendants of Tippoo Sahib of Mysore.
The Legislative Council, stung into independent
action by the gross insult which the Secretary of
State has offered to the Government and people of
this country by so shameless a waste of public
money, has strongly and unanimously protested
against the grant. Sir Barnes Peacock declared in
the council that the Mysore princes had no claim
whatever " legal, equitable, or moral," to the
magnificent gift which Sir Charles Wood—by
what reason persuaded no one dares guess
—has pressed upon their acceptance. Sir
C. Jackson condemned the grant in similar
language. Sir Bartle Frere, though refusing topro-
duce despatches which he held to be confidential
from the home to the local government, and though
asserting that the Secretary of State alone should
be applied to for information as to the real
nature of the grant, gave unmistakeable signs of
sympathy with the opposition, and more than hinted
at the propriety of calling public meetings to de-
mand explanations from Sir Charles Wood. The
press and the citizens of Calcutta have not been
slow to act in support of the council. Never has
such unanimity been witnessed before in India ;
never before has there been an opposition at once
so energetic and so reasonable to the arbitrary
authority of the Secretary of State. They who feel
most sorely aggrieved are the Europeans and loyal
natives who have heartily seconded the efforts of
the government to reform our financial system by
imposing new taxes. Is this the result, it is asked,
of all Mr. Wilson's promised reforms, that every
man with X5O a year is taxed 4 per cent. to swell
the accumulated hoards of Mussulman princes who
have already more wealth than they know what to
do with, and who represent the family of one who
was in his lifetime the worst foe of the English and
the cruellest tyrant that ever oppressed the south
of India. It is not only that, more than half a cen-
tury after.Tippoo's death, we are annoyed to Ind
how " even in his ashes live his wonted fires ; "
how, even though dead, he yet plunders us through
his descendants, but this profligate and criminal ex-
penditure of our money by Sir Charles Wood is of
a piece with the whole policy of England towards
India. At present the Indian Secretary of State is
in reality the dictator of this "country. He has
effectually crushed his mock council at home, and
now there is none to gainsay him. We pray in
vain for the " full publicity " Mr. Wilson dangled
before us as a bait to win our consent to be taxed.
Immense sums are paid away out of the Indian
treasury for the Chinese war: what guarantee have
we that the money will ever be returned ? India is
taxed for the support in England of a large portion
of the English army ; but all statistics which could
enable us to check the accounts, and discover
what we ought and what we ought not to pay, are
carefully withheld. Surely some member of par-
liament will be found with sufficient independence
and public spirit to demand that this injustice shall
be redressed.
For the rest, if we can trust his flattering words,
Sir Bartle Frere gives a very gratifying account of
the present state of our finances. The anticipated
falling-off in the payment by railway companies of
funds wherewith to carry on the works this year
has not occurred ; and the President in Council in-
forms us that, after the deficit of upwards of six
millions has been supplied from the produce of the
new taxes, the revenue will still be in so elastic a
condition that we shall have cash balances to the
amount of twelve millions in the treasuries at the
close of April next, two millions more than Mr.
Wilson thought necessary. Sir Bartle Frere,
therefore, assures us that not only will there be no
loan in India this year, bat even the three millions
Sir Charles Wood took power to raise will in all
probability not be required.
The Bombay Gazette has the following :
There have been rumours in Bombay for at least
a month past of a scandalous breach of discipline
by some soldiers of Lord Clyde's pet regiment, the
93d, who are said, as the story generally goes, to
have pelted their officers out of the camp with their
tin pots. We should not have noticed the matter
had not an allusion been made to it in a Kurrachee
paper, for it is not safe to believe much that one
hears, and no official notice has been taken of the
alleged act of mutiny. Our Kurrachee contempo-
rary now states that two officers of the regiment
have been removed on account of this affair. We
hope that Sir Hugh Rose will make no attempt to
hush up whatever has occurred. Such mistaken
lenity would contrast ill with the ostentatious
severity of the sentence on the sth Bengal Euro-
peans ; and, indeed, very free remarks are already
offered on the different treatment which miscon-
duct receives at the hands of the commander-in-
chief when it occurs in a royal and a local regi-
ment. We are very far from sharing in the
belief that Sir Hugh Rose would show partiality
in his dealings with the men under his com-
mand; but how comes it that no general order pro-
claims the just indignation of the commander-in-
chief who disbanded the sth Europeans, at 'the
mutiny of the 93d Highlanders ?
We are authorised to state that the Bth Hussars
have received orders to be transfet red to the Bengal
Presidency to relieve the Carbineers now stationed
at Meerut, and who arc ordered to England. The
3d Dragoon Guards relieve the Bth Hussars in
Rajpootana.

COMMERCIAL INTELLIGENCE.

CALCUTTA, Dec. 18.

The steamship Nemesis arrived on the 14th inst., and her
mails were delivered the erne evening. The Bombay
steamer with dates to the 19th November arrived at Bom-
bay on the 13th, and telegramq cont&']ing the most im-
portant items of intelligence reached Calcutta the same
evening.

PRODUCE MARKET.—A fair business has been doing
since our last report, chiefly In sugar, rice, saltpetre, and
linseed, and rates have increased with the demand. Little
Inquiry is made for other exports.
IMPORT MARKET.—Fevr large transactions are reported,
but generally more activity prevails. Acting under the in-
fluence of an advance in the English market, and a cessation
of shipments, holders are firm at previous rates. Metals
have improved slightly in va'ue.
JOINT STOCK SHARPS.—Tho share market is firm as to
prices, but 'no activity exists, owing to the increase in the
rates of interest in the Bazaar. The Bengal Coal Company
have declared a dividend of Rs. 60 per share for the past
half-year, and this scrip has since been sold at Rs. 1750; a
further amount spent in the purchase of property is likely
to be capitalised by this company. Assam Tea shares are
wanted, and Boaded.Warehouse shares are inquired for.
In other stocks there is little doing.
GovsnNmEistr SECURITIES.—There is very little to report
as regards government stocks ; prices are barely supported,
and the transactions are of the most limited character. The
Five-and-a-Half per Cents..have been sold at 4 ernes dis-
count, but .a few speculative purchases have placed the
sellers' rate at par; the Five per Cents. are to be freely
obtained at 94.8, and the Four per Cents, at from 79-8 to
80. The Bank of Bengal has slightly increased their
vargin for roans.

MONEY Matticwr..--There is no very perceptible advance
In the value of money, the Bank of Bengal balances are not
diminished, and their rates continue the same; any demand
can be freely met by the banks and the native shroffs.
EXCIIANOE.—Singe our last report there has been very
little fluctuation in the rates on London. A moderate busi-
ness has been traneacted itt bank bills at 2-li, in credits at
front 2-1 f to 2At and documentary at 2.1 i. The market
closes weak. On France there have been no transactions
et importance; and rates are as last quoted. Sales on China
have been made at 219 to 220 per 100 dols. On Mauritius
the rate is t 3 for 30 days' sight, and 53} for 60 days' sight.
FREIGHTS.—We have very little to record in freights
generally. There Ii been a little dulness, and rates have
been drooping for other (garters, though for London rates
keep up—£3155. to £3 17s. and Liverpool £3 7s. 6d.
News from Mauritius being very jscouraging will stop
shipments, and we do not see much animation in other
quarters ; rates to America are also lover and 11 dols. is the
rate to-day, owing to unfavourable accounts from that
country. In country freights very little doing, and must
remain stationary until the, new crop of Ballam rice com-
mences to arrive. Tonnage at present is plentiful, and ex-
pected number of ships are quite enough for our future
equirements. •