The Sun.
London, England, 1857-12-09 00:00:00

quer was based on the sic volo sic jubeo principle.
It was because " that was the understanding on
which the licensewas granted," or, in other words,
because he chose to affix such a restriction. He
could not deny that circumstances might alto-
gether change—in fact they have already changed
—or that the foreign drain might altogether cease,
but because that was the rate when the Act was
not merely suspended, but violated, so it
should continue until it was convenient to the
Bank to relinquish the indemnity. Of course
the Directors will only be too happy
to have so good an excuse for continuing
the exorbitant rate, which is " fun to them, al-
though death to many others." By that rate
"the rest" rapidly accumulates, and a handsome
bonus will be added to the ordinary discount.
The pretext that it was not the Bank that regu-
lated the rate of interest was clearly exposed by
Mr. SPOONER. Sir G. C. LEWIS chose to ignore
the distinction between "discount" and "inte-
rest," and it is one that proves the absur-
dity of the present system, inasmuch as it proves
that the prevailing evils have been occasioned not
by the want of capital, but by the dearth of cur-
rency. The nation has abundant capital, but not
an adequate measure and representation of value :
it is the circulating medium that is deficient.
Sir CHARLES WOOD, according to his usual cus-
tom, only complicated the affair by his correction
of one of the facts adduced by Mr. MArarrs. He
declared that, although the minimum rate of dis-
count was but 5i per cent., the average rate
was 7i, and therefore that the increase was
but per cent. !Any other person would have
perceived that the average would have advanced
with the rate of the minimum—that if 5i gave
71, 8 would give more than 11 per cent., er 10
about 14 per cent, as the average.
The nation will be able to judge of these
matters, and sooner or later will pronounce a just
verdict in the great question at issue between the
industrial classes and the hard calculators—the
bees and the drones of the national hive.

been killed at Gwalior, effected their escape to
Agra :
" Mrs. Blake, widow of Major Blake.
" Mrs. Proctor, widow of Lieutenant Proctor.
" Mrs. Kirke, widow of Dr. Kirke, and one child.
"Mrs. Hawkins, widow of Captain Hawkins, and
three children.
" Captain Stewart's child.
" Mrs. Coopland, widow of Rev. Mr. Coopland.
" Mrs. Raikes, wife of Major R. N. Raikes and nne

" Mrs. Twithen, wife of Sergeant Tvitchen, and five
children.
"Mrs. Webb, widow of Sergeant Webb.
"Mrs. Hill, widow of Gunner Hill.
"Mrs. Cronan, widow of Sergeant Cronin.
" Mrs. Collieies (?) widow of Drummer Collieies, and
six children."

The Supreme Government state that, in a letter
from General Outram, dated the 26th September,
it is asserted that Lieutenant Wild, of the 40th
N. 1., who was supposed to have been killed, is still
living.

(From the Bengal Burkaru of 31st Oct)
The opportunity of an additional steamer enables
us to transmit an Extra Overland Summary, which
will, doubtless, be acceptable to our home readers
in their thirst for Indian news.

The short time that has elapsed since the publi-
cation of our last bi-monthly publication has
not been productive of any very important
events. We are still gaining successes over the
rebels, who are still showing every determination
not to be subdued if they can help it. As we told
our readers on the 22d inst., the rebellion is by no
means put down, neither are the rebels
showing the smallest signs of being disheart-
ened. They are still threatening our forces at all
the principal points in Bengal and the North-west.
In the other presidences, as in the Punjab, there is
but little disturbance of the outward tranquility
whi h has generally prevailed, though in Bombay
some traitors have been discovered among the s.:-
poys, and some severe executions have been the
result.

According to the present aspect of things, it
seems Oude is to be the great centre of the contest
which we have now to sustain. Agra has been
again threatened, but the insurgents have
diverted their course, and are now proceeding in
the direction of Lucknow, where, on the other
hand, we are preparing to concentrate a large force,
in order to make a decisive blow. It has become
apparent now to all, and we believe that the Com-
mander-in-Chief was the first to be convinced of the
fact, that the maintenance of our present position
in Oude can only be effected by a force as formidable
in numbers as the little armies which have been
hitherto sent have been formidable in daring and
valour. Sir Colin Campbell has already left Cal-
cutta for Cawnpore, where he will establish his
head-quarters, and where he will join Colonel
Greathead with his victorious column, which has
already arrived. Troops—of which we have now
a large number in Calcutta—are bein_.t. sent up as
fast as carriage can be secured for them, and Sir
Colin will doubtless have a large force at his dis-
posal for the work that has to be done. Notwith-
standing the gallant efforts of both officers and men,
in what was called the Relief of Lucknow, it is but
too apparent that the "Relief" was only a reinforce-
ment, and that our two positions—theßesidency and
Alambagh—have been unable to effect a communica-
tion in the face of the tremendous odds opposed
to them. We have had but vague accounts of the
condition of the garrisons of these two places, and
the most alarming rumours were of course circu-
lated.. Yesterday we received some more certain in-
formation, and from this it is known that a rather
severe loss was sustained at a sortie from Alambagh,
made for the purpose of establishing a communica-
tion with the Residency, and that Sir James Outram
himself was wounded.

1111 E SUN LONDON, WEDNESDAY EVENING, DECEMBER 9, 1857,

week. In metals, nothing doing in copper. Sales of iron
and speller have taken place at slightly higher prices.
The money market is gradually goling easier, bullion
is increasing in the bazaar, and confidence amongst the
Shroffs is being restored. The position of the Bank of
Bengal is also improving.
Government Securities remain much about the same
as last week; scarcely any business has been dor e during
the week. We quate Company's Four per Cent. at 24 0
to 24 8 per eent. did. ; Sicca Four per Cent, at 24 0 to
24 8 per cent. dis. ; New Five per Cent, at 11 8 to 12 0
per cent dis.
Exchange on London.—Little business has been done
since the last mail ; and present quotations are— First
Class Bills at 224 0 to 2 2 0 ; Document Bills at
2 0.

FRANCE.
PARIS, TUESDAY EVENING.
The situation of theßank continues to improve.
Since Satin.,lay the reserve has reached the
amount of 230,000,000 f.
BOURSE, Dec. B.—The following were the last
quotations :

Cash. fr. End of Month.
44 per Cents
3 per Cents 66 66 10
Bank Shares 3125 Credit Foncier 540
Credit Mobilier 712 50 Roman
Do. Account 722 50 Austrian
Belgian 41
riedmontese(s) — Home Debt

RAILWAYS-FOR CA El Ho

tr. c. - Ir c,
Orleans
Northern - Western
New Ditto 735 Strasburg
Lyons and Med ESS Grand Central 1—
New Ditto...
Geneva 620 Austrian Com. ...... 665 r

THE PRINCIPAL' lES.

The Nord of Brussels puldishes the following
despatch from Prince Gartchakoff to M. de Bou-
tenieff, Minister of Russia at Constantinople, as a
proof that the cabinet of Sr, Petersburg has not
in any respect changed its views or attitude relative
to the Danubian principalities

" St. Petersburg, Nov. 17.
" Sir,—l had the honour to receive your despa•ch of
the 30th Oct., with, annexed to it, the new circular of the
Ottoman government to its representatives at the courts
which signed the treaty of Paris. We believe it is useless
to enter into a discussion with thelTurkish Minister
of Foreign Affairs ; but, if we had not thought so,
we should have noticed his assertions on the capitulations
of the principalities, and especially on the expression
of`sovereignty' which figures in the circular, and
which cannot in any ca=e be applied to the relations
of those provinces with the sublime Porte. We will
leave that communication without reply ; and if Aali
Pacha should speak pf it to yOur Excellency, you will
say that we refer to the spirit of our despatch of the
22d Oct.—Receive, &?,., " OORTSCHAKOFF."
A Vienna letter of the 2d says in a confer-
ence yesterday between Count Buol and Prince
Kallimaki, the latter communicated the bases of
the plan of organisa.ion of Moldavia and Wallachia
which the Porte is drawing up ; the principal fea-
tures are that two princes shall be elected for life
by the Divans from families of the provinces, sub-
ject to the confirmation of the Porte ; that a certain
union shall exst between the Principalities as re-
gards military, postal, customs, and telegraphic
communications ; that a Moldavian commission
shall be nominated to superintend these matters in
Wallachia, and a Wallachian one in Moldavia ; and
that the two shall at intervals form one commission,
meeting at Jassy or Bucharest at fixed intervals to
modify exiEting regulations."

BRAZIL AND THE SLAVE TRADE.

TO THE EDITOR OF THE SUN.