The Sun.
London, England, 1857-10-22 00:00:00

LONDON, THURSDAY, OCT. 22, 1857.

The East India Company yesterday advanced
the price of their bills on India by one penny
the rupee, or about 4 per cent. The effect
of this movement will be to check the
purchase of such bills, and tend to a
a greatly increased exportation of bullion. The
poverty of the Indian Treasury is thus clearly ex-
hibited. The directors know that the whole of
their resources will be required in India, and that
they must provide in England' for the dividends
and pensions payable in this country. They have
already borrowed a million sterling from the Bank
of England, and have so far interfered with the
funds which ought to be applied for the benefit of
the commercial interests. That million has pro-
bably added one per cent. to the minimum rate of
discount ; and should farther pecuniary accom-
modation be required, as the step of yesterday
seems tc indicate, there will be still further
charges, until trade is completely paralysed, and
manufacture totally suspended.

The bullionist organs are assuring the nation
that trade was never in a sounder condition. We
do not hear the disgusting cant of over-trading or
over-production, as if there could be over-produc-
tion while our fellow-creatures, men of our own
blood, speaking the smile language, and worship-
ping the same Deity, were hungry and half naked,
unable to obtain a sufficiency of wholesome food
or comfortable clothing. None of these specious
pretexts are now set up. It must then be the
monetary enactments that have produced the mis-
chief ; and, as in October, 1847, there can be
no relief until they have been repealed or sus-
pended. This should be the work of Parliament.
Nothing but imperative necessity could justify a
Ministerial interference, and when a step involv-
ing such extraordinary responsibility, and so un•
disguised a departure from the law, became essen-
tiz.l, as we believe it wi l be before many days
have elapsed, not an hour should be lost in con-
vening the Legislature, that its sanction may be
obtained to the transaction.

It is quite impossible that the trade and
manufactures of the country can flourish,
With interest at eight per cent. in Thread-
needle-street, and frilly double it all through the
country. Some course must be adopted to alleviate
the panic, and restore the credit and confidPnco
which were the chief sources of Ecola.nd's commer-
cial and manufacturing supremacy. It is not by
closing works and factories, stopping 1oow•, and
turning those able and willing to work out of
employment that we can continue to pay our way.
It is not by rendering the creators and producers.
of national wealth, unprofitable consumeni, that we
can extricate ourselves from the Indian d.ifficulf,
.re-establish our rule in Central and North-• Western
India, or teach Mr. aimmissioner YER the necez-
BUY of faithfully observing treaties. The late
Lord ASHBURTON no mean authority on mope
tlry subjects—declared that but for the Bank
Restriction Act, and the issue of paper money
(inconvertible, be it remembered), tho French
war—the most formidable struggle in which Great
Britain was ever engaged—could not have lAEA i

carried on upon the same scale, or anything like
the same scale, of expenditure or exertion. We
suppose, however, that MERCATOR and his dis-
ciples would rather sacrifice India than in any
degree impair what they are pleased to term " the
integrity of the standard," or permit the issue of a
single note upon securities beyond the amount so
arbitrarily fixed.
No valid reason has ever been assigned against
1/. notes. They saved the Bank in 1825, and
prevented a general stoppage. But in place of
extending their use in consequence, they were soon
after prohibited in England, although largely in
use in Scotland and Ireland, where gold coin is
seldom if ever seen, save in the hands of a
stranger. It is said that they may be used for
political purposes, but it must be borne in mind
that nothing of the kind occurred in the sister
country during the Young Ireland agitation, and
if a political run for gold was to take place, the
large notes would prove more formidable instru-
ments to those who were bound to convert them
into sovereigns.
What is now required is an extension of issues,
and the adoption of the smaller denominations of
notes, similar to those in use in Ireland
and Scotland. If based on proper security,
or receivable in payment of taxes, there could
be no danger ! Not an ounce of gold would
Ilrequire to be deposited. It should then resume
its proper functions as an article of commerce,
highly valuable for adjusting the exchanges be-
tween different nations, but a small premium
would check its exportation much more effectually
than an increase in the rate of interest, which in-
jures innocent traders, who are not in any degree
responsible for the evils that have arisen.

It is surely time that some energetic measures
should be adopted to render the Anglo-Indian
Government more efficient, and better qualified to
meet the crisis. It is quite obvious that Lord
CANNING is not " the right man in the right
place." He has not the energy or ability to con-
trol the Council—is in fact a mere puppet in their
hands, only useful to snub and disgust military
men, whose opinions • on military matters arc,
unhesitatingly overruled by black-coated civilians
—whose leading principle is, and has been "India
for the Civil Service." It is perfectly notorious
that Sir PATRICK GRANT, an admirable officer,
who, if left to himself, would have rendered
valuable service, was thwarted in every point—
his advice disregarded, and his sound views set at
nought. The same game was attempted to be
played against Sir COLIN CamrsELL, but fortu-
nately, not being a Company's officer, he could
adopt an independent course, and sever the red-
tape trammels in which they tried to enthral
him.

But although Sir COLIN will be true to himself
and to his country, enormous mischief is effected
by these incapables. The proclamation of martial
law was rejected, although petitioned for by almost
every Englishman not holding office. Natives
are placed in judicial situations, giving them un-
controlled power over the lives and properties of
Europeans—powers which, if we are to believe
the statements made by a correspondent of the
Daily News, have been most grossly and atroci-
ously abused. It declares that " sundry of the
natives who had been appointed to judicial offices
in those parts of India which are now in
a state of insurrection, have been exercising
their functions by hanging their official
superiors, and other Englishmen who have
been so unfortunate as to fall into their mer-
ciless hands." And yet, with a degree of fatuity
almost inconceivable, Mahomedans are daily nomi-
nated to high situations. The writer, who mani-
festly understands his subject, says :—" Some of
these appointments are perfectly absurd. It is
hardly credible, yet it is the fact, that the Calc.mtta
Gazette of July 15 announces appointments of
five Mahomedans to the office of principal sudder
ameers of Cawnpore, Moradabad, Farr ack-
abed, and Bareilly, the whole of these places
and the surrounding country being then in
the power of the insurgents. But those who
have the influence to direct the Govern-
ment would rather do anything than acknowledge
the error they have committed in the employment
of natives in preference to Englishmen out of the
exclusive covenanted service of the East India Com-
pany. This country, instead of being regarded as
the conquered dominion of England, has been rued
as if it was a petty borough for the exercise of the
East India Company's patronage. The servants
of that Company, in their selfish feeling, have
taught the natives to despise us, and the natives
have learned their lesson well. We trust, how-
ever, that the East India's Company's rule is
coming to an end—that the people of England,
aroused by the murder of their countrymen, the
gross insulting barbarity practised against English-
women, and the fiendish torture of children in
their parents' sight, will at last insist upon the
inquiry which independent Englishmen in this
country have so often asked for in vain."
That inquiry should be at once instituted, and
it should be of a very stringent and searching
character. Why should not India be placed un-
der the direct rule of Queen VICTORIA, with a
responsible Government of men duly qualified
for the position Why should not trained and
educated lawyers be sent out to preside at the
different courts throughout the country, in place of
men ignorant of the first principles of jurisprudence
or of treacherous and corrupt natives. The due ad-
ministration of justice is indispensable. Without
it no people can be happy, contented, or pros-
perous. But there is no Royal road to legal lore,
no short cut to information. Men, or rather
boys, have been sent out in the vain hope that
they will turn out experienced jurists. They are
paid extravagant salaries, double the amount
necessary to obtain the services of competent
men, trained at Westminster, the Four Courts,
or the Court of Session at Edinburgh, and
able t) discharge the duty with credit to them-
selves and advantage to the country. We urged
these matters in 1853, but the interests of the
Civil Service prevailed, and every other considJra-
firm was sacrificed. Can we wonder, then, that
one of the chief demands of the non-officials in
India should be for Qaeen's Courts presided over
by trained lawyers, and English the Court lang•

uage.

The first thing should be the recall of Lord
CANNING. The Directors exercised the privilege
in the case of L )rd ELLENBOROUGII, one of the
best and most efficient Governors since the days
of CUTE and ILksTINGs ; let them do so now to
the most inefficient, or they will be responsible
for all the mistaken he may commit during his
tenure of office.

H. Excellency the Austrian Minister and the GAT:
tess d'Aponyi are expected to arrive at the residence
the Austrian Legation to-day, from the Continent.
The Duchess Dowager of Argyll has arrived at
Brighton.
Tne Earl of Clarendon will leave town to-day on a visit
to her Majesty at Wuadsor Castle.
Sir Arznine John Morris has arrived at the Bruns-
wick Hotel, Jermyn-street, from his seat Sketty Park,
Glarnorganshire.

FAILURE.—Tho suspension has been announced of
Mums. Auld and Buchannan, of Glasgow, merchants
and shippers. Their liabilities, which are estimated at
100,0001, and believed to be chiefly local.