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

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st )101
,tgir fliye
fo
he
,• .
t.ic7er
la e eit'ei of th t. n tentS-•:t s, chis
sire .cly caused many of t`n no inkitte- es -ablish-
inae ia, to
s, to shutosirspmr their i d
: t eilssieoo, of
IT ciead in some
n)!trcentirely,,
sues.
has
broueht down a vast number of mercanttle heese,:,
has be gun to be in a measure felt in this proein,e.
The princi' al topic of diseu,sion in our pap•-e7s is
nelf the one which engtlges the at'ention of the
orican terican statts nen,- and
• 'there are great appre-
lon ft-4 • - %condition of things is
-y can show rPliableiti-
_
nriproNe.......„ At the same
a matter of just pride to Canadians generally that,
gs ?
in spite of the contraction of the money market,
ti is
tine it
and of apprehensions occasioned by the numerous
failures in the United States, nothing like a panic
h
ecsetnwiTheidspeinr Os be pr3oen I
vinceea,rdaradnyw
t,hahterneeta's she
Sialh
the stability of our banking institutions and
It
uch
il::hoe b awnak ys r e
s of
their capability of meeting any emergency that
maytend rpresentefti refusing itself.to d o i
u truethat
now, and have for some time prat been, preparing
for the day of trial, and by con racting their issues
accommodating the merchants, have occasioned
embarrassment to certain parties, and to a consi-
derable extent impeded legitimate business ; bet
that they are justified in taking the course they
have done, under the eircurnsiances, nobody at-
tempts to deny. Our banks are determined to
keep all the specie they can, well knowing their
coffers are no loegar likely to be replenished by
importations from either New York or England,
from whence their supplies of the precious metals
wer3 usually drawn. Bat this policy, although
I,erhaps ore t•f c'elf-presetvation to the banks, acts
very unfortunately up.m basines., and the conse-
quences of it are certain to injurious. The Mon-
treal papers are severe upon the banks in that city,
and I doubt not the same tale will be to'd all eve:
the province ; but still it is satisfactory to know
that every one of the great banlaitig institutions
Canada enjoys the confidence of the com-
munity, and hopes are entertained that, in suffi-
cient time before the close of the navigation to al-
few of our surplus pro:ince being shipped for
Europe, they will again be in a position to offer
neosssary accommodation to the large mercantile
exporting houses, who are now seriously affected by
the impossibility of obtaining the discount they ab-
solutely require. What is wanted here is a bank of
issue, or of accommodation, such as Mr. Hin-ks,
seine years ago, proposed to establish. Our mer-
chants now see the great advantage such an institu-
tion would be to basiness ; but, as is usually the
case, they recognise too late its utility. lam in-
cliued to believe that 1-•efore long the necessities of
our commerce will cause the people to demand from
the Legislature the carrying into effect of Mr.
Hincks;- enlightened project for the facilitating of
taisiness, and the s..herue will not, it is to be hoped,
he opposed by the existing banking institutious of
the country.
The whole crops of the season are now locked up
for want of proper banking accommodation. The
following, from the Toronto Globe of this day, ex-
plains the present state of things, and gives the
remedy

[PRiost 4:-. STANIT-Tn s'`•_l

,ae,,ii.4l and zitinary intaii4golices

The court-martial for the trial of Lieut. G. N-
-tah3esepni2.ebsii
VB.trYriaiellie,sßyeeyselrEdanyg,inueenrds,erre eaclenactyCiom;l74;
•
C. Elmbirst. On the Opening of the court M.
B. P. N. H. Nugent, adjutant of
the Royal En-
gineers, whose examination was concluded the pre-
vious day, was recalled, and in answer to the pre-
sident stated that the prisoner was first placed
under arrest on the Bth of September by order of
Col. H. Sandham, the commanding officer of the
Royal Engineers. The witness further etated that
although the prisoner was several times absent
from parade he did not report him until lie embo-
died the whole in one general report. Capt. H.
Y. D. Scott, superintendent of surveying and prac-
tical astronomy at the Royal Engineers' establish-
ment, Chatham, was the next witness. He stated
that the prisoner was frequently absent from th)
officers' hall of study, and produced the daily re.
ports of the attendance of officers in which the pri-
soner was frequently returned as absent. C.)l. H.
Sandham, director of the Royal Engineers' est t-
blishment, was also examined in support of the
charges against the prisoner. At 4 o'clock the
Court' adjourned till this day.
On Tuesday upwards of 300 recruits joined the
Indian &pots at Chatham.
Yesterday a party of non-commissioned officers
joined the Indian battalions a 4; Chatham, from the
school of musketry at Hythe, for the purpose of
assisting in the instruction of the large number of
troops who are daily arriving at that garrison in
the use of the Enfield rifle.

During the absence of Brigade-Major C. S. S. E.
Gordon from Chatham, the duties of brigade-major
are ordered to he performed by Captain J. J.
Bourchie r, 52d Light Infantry.
The New Military Hospital at Sheerness, built
by Messrs. Kirk and Parry, has been opened.
Captain Leonard, Woolwich division of Royal
Marine Light Infantry, has obtained permission
from the Board of Admiralty to retire on half-pay
under medical certificate, and First Lieut. Willson,
of the Portsmouth division, has been appointed
Captain in his stead, while Second Lieutenant Sims,
of the Woolwich division, has been appointed First
Lieutenant.

Quartermaster Thomas Cooper, Royal Marine
Light Infantry, promoted in July 1856, at Wool-
wich, for meritorious conduct, has, m consequence
of his long and faithful services, been permitted to
retira on the ray of 10s. par day, with the nominal
rank of Captain.
The Cyclops, 6, paddle, Capt. Wm. J. S. Pullen,
will be paid wages at SpitheAd to-clay ; and she will
sail for the Red Sea before the end of the week on
her most it,teresting mission of taking soundings
from Suez to Aden, preparatory to the laying of
the submarine telegraph cable, by which means our
Indian posses ions will re-Ally become part and
parcel with Old England.
The Diadem, 32, screw, Captain Moorsom, bad
another struggle yesterday, at the miasured mile
at Stokes Bay, but with the same results as on
Monday as to her speed, obtaining only 11i knots
an hour.

" T;:e month of o.:toi)er is passing rapidly away—
, hardly six weeks of navigation remai❑ to U 9. No por-
tton of our vast crop has yet been ; none of it has
yet left our ports. And what if the present state of
things shall continue, winter come upon us without r€-
lief, and the entire crop be left in the granaries to await
the opening of navigation next spring Are we told the
railways can take it during the winter ?—the railways
have not capacity to c.irry it ; and if they had, the co=t
of transport at the low prices now ruling would forbid
their aid being available. Unless a large portion of the
crop goes forward by shipping before the close of navi-
gation, inevitably the vast bulk of it must remain unsold
and unproductive for six months to come. Then what
follows I The farmer cannot pay the merchant and the
mechanic ; these cannot pay the importer and manu-
facturer ; and they, in thenr turn, cannot ply the
banks. The whole Cana lion fabric rests on agriculture.
Get out the crop—sell it—and the whole machinery
moves ; leave the crop in the barns, and the entire sys-
tem is stagnant.
. _

The Victory, guard ship, Captain George Henry
Seymour, C.B.—Although this time honoured
ship is in dock repairing, the anniversary of the
most memorable naval engagement on record, and
the death of England's greatest" naval warrior, was
not forgotten on board. At an early hour the good
old ship was decorated with unon jacks, ensigns.
and laurels, from stein to stern. Her figure IP2ad
had supports of the best bunting, crowned with
laurel. The old salts belonging to the Victory
dined together, and fought their bathes afi • 11).
One hundred shipwrights are to be withdrawn
from the Topaz, building at Devonport, and placed
on the Aboukir, 90, screw, to hasten her repairs,
and clear No. 5 dock. Twenty engineer fitters are
to be discharged from Keyham, their services not
being required at present.
Vie le an from a private letter that the screw-
steamer Carth , ge, which left Kingstown on the let
of August with a portion of the 38th regiment,
under the command of Major Farrer, was coaling at
St. Helena on the let of September. The Carthage
had experienced a succession of head-winds since
her departure from St. Vincent's. No news from
England had been received at St. Helena later than
the Ist of June, and the first intelligence of the
Indian revolt was communicated by the Carthage.
A Malta correspondent, uritaig on the l6th
instant, says :

" We a.ie persuaded that all that is now wanted is
harmonious and united action by the banks to release
the crop and enable all parties to meet their indebtedness
by the only means within their command. Nor should
this be difficult of arrangement. The solvency of any
banking institution in the country—the ability of every
one of them to meet all demands is beyond a question.
Why cannot they come to an arrangement that a certain
axed proportion of specie shall be retained by each
bank according to circulation out—that a certain rate
of accommodation shall be extended to the public ac-
cording to capital--anti that draf7s on London shall be
received in payment of balance ! Let the presidents and
cashiers of the several banks agree on some such basis as
, this, and all fear of financial troubles in Canada will be
at an end. But let the present fear of each other con-
tinue a few weeks longer—let them continue to strive
who can squeeze the hadest and draw heaviest on their
andcn:ui neighbours—and
ueras—re before.a
nnedWit we
wnohirlethite ils.nydeutcteimmeen.
sTiet
palliatebaia li sesfuNc
he New
course
.:
rr
ske
here
oerrcee dw
hsl3: Owoiog,boto Oh a Ivreo :I,m:hi
fie
,d mer-
chantsitpts:haeakl lftehhauarsav e times not seen in t. i I
of New York in a few wee!is, but they have
already lived long enough to repent of the operation
in the great commercial mart of the United States."
Private accounts from the Red River expedition
have reached ree, and I am happy to say they aro
of a more satisfactory character. The I udiais, or a
portion of them, who were employe 1 on the expe-
-1 dition, returned home afier the party had arrived
at Riling Lake. It was rumoured that these Indians
had abandoned the party on account of. an Indian
war raging in the interior, but the truth is, they
were only hired to proceed as far as Raing Lake,
and on their arrival there were of course allowed to
use their own discretion in regard to going further
or returning from whence they came. Te ey chose
the latter, and have now gone back to Caughna-
waga, or elsewhere to their squaws and wigwams.
The remainder of the party, with one or two ex-
ceptions, have since safely arrived at the Red River
Settlement, and very shortly it is expected that a
report from the officers who accompanied the expe-
dition will be made public. In the meanwhile lam
rejoiced to be able to state that in every respect the
anticipations of our people have been fully realised,
and it is now proved, beyond the possibility of a
doubt, that there exists, between Lake Superior and
the Red River Settlement, an immense tract of mag-
nificent country, admirably tiwb,2red and watered,
and in all respects adapted for se: thenent ; and that,
instead of the route being impracticable, there is
every facility for opening both laud and water com-
munications, and that at an inconsiderable outlay.
I am informed that the scenery is really b.rauti-
tiful ; and one may judge of the fertility of the soil
in the neighbourhood of the Dog River and the
Lake of the Woods, by the fact that hardwood tre s
were found which measured upwards of nine feet in.
girth, while the vegetation, and the nature of the
soil, gave additional evidence that the labours of
the husbandman would be abundantly' blessed in
such a region. In regard to the great swamp or
savanna, across which Sir George Simpson seems to
think it impo esible to carry a road, it has been dis-
covered that the whole of the tract covered by
water can easily be completely drained, and at very
lit [le expenditure of money or of labour, by cutting
through a slight ridge which would then enable the
waters to form a deep channel for themselves, and
leave the country not only dry, but in a state the
best adapted f, r the plough, and likely to yield the
richest harvests-if any part of the country.
An attempt is about to be made to establish a
woollen factory on the Red River, where there is
plenty of water-power, and I am informed that two
parties aro now in Montreal (who lately arrives
from Red River), engaged in hiring French-Cana-
dian labourers for the fa,cory. This is a fresh in-
dication of the enterprise and progress of the settle-
ment, and shows that the Red River colon,sts are
well aware of the natural advantages their country
.that a county meeti g
iidnetdsor?
accou .ts of th s into: eating settlement. In necor-
, dance with the suggestion given at the Hudson's
determined ianbeltel ttoom sendak e r
ouodfluir use of
them. PBt h'aesyms °ln.3 s
meeting
ihnafei
nas orwem
should be called, a requisition ha ; been presented
to the Sheriff of Essex, of which the following is a
copy :

" The Peninsular and Oriental Company's steam-
packets Tectis, from Marseilles, and Colombo, from
Scuthampton and Gibraltar, arrived here yesterday
morning. The latter met with great stress of
weather in the Bay of Biscay, and some horses were
washed
overboard. The passengers speak in the
highest terms of Captain Field and his officers, and
also of the excellent qualities as a sea-boat of the
steamer during the gale, which obliged her to hove-
to for many hours. The Vectls left for Alexandria
soon after her arrival, and was followed at sunset
by the Colombo.
" The European and Australian Company's
steam-packet Vanguard left for Marseilles on the

13th in order to be in time to sail thence on the 18th
with the outward mail for Australia.

" The Tamar steamer, belonging to the same
company, arrived here from Alexandria yesterday,
and left for Southampton last night.
"Up to the 12th no tidings had reached Alexan-
dria of the arrival at Suez of the E:nen with the
homeward Australian mail.

"Her Majesty'a steam gun-vessel Coquette re-
turned from C gliari on the 14th, after telegraphing,
thence to Loudon the summary of the Indian in-
telligence by the Bombay mail.
" Her 111.,jesty'S steam corvette Desperate left
on the 16th for Canca, with despatches for Lord
Lyons."
Lieut. W. N. W. Hewett was yesterday appointed
to the Victolia and Alb?rt Royal steam yacht.
Capt. Alexander Milne and Capt. -ir Baldwin
'Walker, Surveyor of the Navy, left town last even-
ing on in official visit to Portsmouth.
On Tuesday, Lieut. A. A. Satan commissioned
the Per:ian, 12 gun sloop, at Sheerness, for Com-
mander J. H. Chads.

The Caplain Superintendent of Sheernesi Yard,
John C. Fitzioral,l, tnspec'ed the divisional offi-
cers and the crews of all the ships iu ordinary yes-
terday.

"it.quisition to John M'Ewan, Esq., Sheriff of the
county of Essex.
" Sir,—We, the undersigned freeholders and inhabi-
tants of the county of E isex, viewing with great jealousy
the recent proceedings of a committee of the House of
Commons in regard to the ' Charter' (so-called) under
which the Hudson's Bay Company have for so many
years past monopolised the wealth of a territory includ-
ing more than half of British North America, to the
exclusion of our fellow-.;ubjectss and all legitimate trade
and enterprise, and the development of its vasturess,-
siurcc's ; and, we, being inimical t i all such monocoo, _
root desirous that the ccuntry should bes)to,, !!
open to public enterprise, and the lards
.dispoo
anly
man
a'''
GoroFveetrnount
menetn:atn
call wetting of tbie
privi-
leges, respcctfully ask you tor,.ouse
in the town of
through u gare,h
county, to bi holden at the Coau h
be pleased to appoint ;
bfauvtowuirtihtiosumt,garnaayntzutsive
privr.
Sandwich, on any day vol?.weety
9 of Essex may have an
so that w3ycur fellow-subjects
important subjects.
tion was signed by 128 of the most
The requisition opportunity of fxj.essiogjour views upon the above
influential names in the county. The following is
the sheriff's reply :7
" In COM pliance with the above requisition, I have
appointed Saturday, the 17th Oct. next., at 10 o'clock.
a.m., at the Court-house in the town of Sandwich.
" JOHN M'EWLN, Sheriff.
ir sandwich, 29th Sept., 1857.