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

LONDON, WEDNESDAY, NOT. 11, 1857.

The anxiously looked for telegram has been
received from India. The nation W 33 eagerly
looking for tidings respecting the occupation of
Delhi and the relief of Lucknow. It was known
that the chief seat of the rebellion had been cap-
tured, and that after a terrible conflict it had been
occupied by British troops. But it was desirable
to know the cost at which that triumph had been
obtained, and whether it was really as complete
as had been asserted.

We now have full information respecting these
important and interesting matters. Delhi was
completely re-occupied on the 21st September, and
the whole of the rebels—we shall not dignify
them by calling them " the enemy "—expelled.
The octogenarian and imbecile mock King had
surrendered with his chief wife, and their lives
had, for the time being, been spared. His chil-
dren, however, did not meet with similar leniency;
two of his sons and a grandson, captured by
Captain HODSON, about five miles from Delhi,
were shot on the spot, and their bodies brought
to the city and exposed at the police-office.
This is as it should be. The senile
Pretender may be more valuable as a cap-
ture, than if he had received the well•merited
punishment due to his atrocious crimes, while the
extreme penalty inflicted on his issue will act as a
striking example throughout the whole of India.
Our victory was, however, dearly purchased.
The gallant NICHOLSON had died of his wounds
on the 21st September, and the nation will mourn
for the departed hero, who had not survived to
enjoy the honours that would unquestionably
have been bestowed on him. With him we lost
GI officers and 1,178 men, killed and wounded,
in the grand assault on the 14th September, being
no less than one-third of the storming force !
This is, indeed, a terrible proportion, greater,
we believe, than could be paralleled in any
similar transaction, and proving alike the fierce
determination of the assailants and the reckless
despair of the garrison. Two moveable columns
bad been despatched on the 23d in pursuit of the
enemy, of whom they would, doubtless, be enabled
to render a satisfactory account.

But the great, the glorious., fact now am
nounced is the relief of Lucknow ; the safety
of its devoted and gallant garrison, and
of the helpless fugitives that sought shelter
within its walls. General HAVELOCK had
accomplished this great desideratum. Having
crossed the Ganges with 2,500 men on the 29th of

September, he entered the Lucknow Presidency on
the 25th, just as it was mined and ready to be
blown up by the besiegers. It was just in " the
nick of time," at the very crisis, which if neg-
lected, might have turned the national rejoicing
into wailing. On the following day, the 26th,
the enemy's entrenchments were stormed, and on
the 29th a large part of the city was taken,
but General NEIL had fallen. That gal-
lant heart had ceased to beat, and 450 killed
and wounded, or nearly 20 per cent. of the troops
engaged, attested the desperate character of the
conflict.

So far as public matters are concerned, we
have but little to wish for, Delhi is our own. The
spurious Emperor a prisoner, and his sons
and grandsons executed convicts Lucknow
is relieved. Our countrymen and country women
safe. The neck of the rebellion is broken,
Everything is now smooth and the prowess and
resolution of Great Britain have been exhibited in
the strongest and clearest light, so that disaffected
subjects and envious strangers will alike shun
conflict, in which they must be worsted. The
reinforcements despatched have not yet arrived,
but it is the more satisfactory to find that India
could be re-conquered and re-organised even with
the forces which were on the spot at the out-
break of the insurrection.

Ten per cent, on first class paper—and fifteen,
twenty, or thirty, on that which is less fashion-
able, although not less safe, is, according to the
Times, a very tolerable state of affairs to which
our merchants and manufacturers should conform
with all convenient speed. It may be disagree-
able, but they must learn to bear it patiently, and
be well ccg.tented if they can obtain money on any
terms, however exorbitant. The sufferers, how-
ever, may think differently. They will not be
satisfied to act as the mere receivers for a gang of
heartless usurers, who have no care for their interests
or any feeling but to screw the last penny out of
their victims. Men, however, will not become
voluntary slaves. They will not devote all their
energies for the exclusive use of unconscionable
taskmasters. The labourer is worthy of his hire,
and when that hire is withheld, and he is reduced
to virtual bondage he will naturally resist the
unfair imposition. The moneyocracy have gone
too far. In place of being contented with a fair
share of the profits, they grasp at all, and may lose
the substance in the attempt to obtain the
shadow. It is impossible that the struggling
traders or manufacturers can endure the
overwhelming burden to which they are subjected.
They must perceive that all their efforts are
fruitless. That nothing can abate the rapacity of
the vampyre tribe that are preying on their vitals.
They are literally forced into a contest that must
be one of life or death. It is not even alleged
that they are in any way culpable. " Never was
the trade and commerce of the country in a
sounder position," so we have been told usque acl
nauseant by the bullionist organs. We have had
an abundant harvest. Every domestic matter has
been favourable, but through our absurd regulations
we are starving in the midst of plenty. We must
still go on gold, although it has been proved to
be inadequate to the wants and exigencies of the
nation. But, like the Spanish monarch who was
nearly roasted because the proper officer isy whom
his chair should be moved was not in attendance,
we submit to the most serious evils rather than
violate routine. Surely it is time that we should
establish a better system than that which has
pre-eminently failed in every emergency.
We earnestly invite the attention of alt
classes to two letters, which will be found in
another part of this day's imprce3ion. The first
is from that faithful, consistent, and indefatigable
currency reformer, Mr. HAMER STANSFELD, who
has never ceased, through good report and through
evil report, to impress the great truths of mone-
tary science. He feels, as we do, that " a panic
was absolutely necessary to open the eyes
of the nation to the absurdity of our
monetary laws." Nothing else can arouse
the people from their lethargy, or awaken
them to a sense of their situations. Let the
panic then proceed. It is the only efficient re-
medy for the existing state of affairs, which will
otherwise be indefinitely protracted. As Mr.
STANSFELD declares, we can safely spare the gold
the Americans require at the present crisis. We
should help one another, and it is our interest to
do so in favour of our best customer for manufac-
tures, and most extensive supplier of the raw
material. If they cannot take our goods, " What
will become of our work-people daring the coming
winter I"

The other communication to which we have alluded
is from an esteemed fellow-labourer in journalism.
The Editor of the Belfast Mercantile Journal, is a
gentleman whose very name carries with it con-
siderable weight in Ireland, and deservedly so,
for he has never failed in the discharge of his
arduous and important duties. He has put for-
ward anew feature is the transaction, showing that
the increase and discount since the Ist of Oct., or
about six weeks, is equivalent to an additional irn-
postof 20,000,0001. sterling, far more than the war
income tax. Nor does it fall on the territorial
aristocracy or officeholders. It is for the exch.,-
sive use of schedule D—for those who earn their
daily bread by their own daily labour. The
opinions of The Belfast Mercantile Journal are so
completely those which we have unceasingly ad-
vocated, that we require but little inducement to
press them on the community. It is "confidence"
that is wanting. Confidence that the merchant
can obtain cash for his bents fide bill, when-
ever he may require accommodation. The
Bank Charter Act, however, shows him that this
is impossible. It creates a panic, because it
teaches every one the necessity of making timely
provisioa for contingent wants before the banks
have given the screw an additional turn, or the
increased rate of discount enhances the cost of

the operation.
The remedy is obvious. It is an issue of small
notes for 11., 21., and 31., such as we
have always advocated notes receivable
in payment of taxation, and, consequently, at an
times acceptable to the tax-paying community.
Even if redeemable in bullion, or, to use the cant
phrase, "convertible on demand," they would
economise the use of specie. To be really useful
they should be made legal tender," and then
the precious metals would bring their value. We
could obtain them whenever they were really re-
quired for adjusting foreign balances, and that is
all for which they could really be wanting. The
sooner, then, the Government intervention takes
place the better. It is inevitable ; and every
day's delay will only increase the difficulty of the
operation.