The Sun.
London, England, 1857-12-29 00:00:00

run StIN, LONDON, TrESDAY EVENING.,

drectof them, captured their cannon (two nine- J
pounder guns), and a large quantity of ordnance
stores : seventy prisoners were taken with " red
hands," and executed under the sentence of a
drum-head court-martial. About 8,000 rebels
had taken up a position near Mundesore, and
they had the audacity to attack, on the 21st
November, our troops, who had moved in ad-
vance, but were driven back into Mundesore with
heavy loss. Heera Singh was pursued to a village
10 miles off on the Neemuch road, where the
rebels showed in considerable force. Stuart's
main column had, however, come up on the 23d,
and a very determined conflict took place.
The rebels fought with the fierce determi-
nation inspired by despair, and it was
not until the evening of the 24th that the
village was completely carried. During this time
our brave fellows were placed between two fires,
for the mutineers that had occupied Mundesore
came out to assist their companions, and STUART'S
column were fighting at the same time in front
and in the rear, the' soldiers being placed back to
back. Oa both sides they triumphed ; and the
result of their victories was the abandonment of
Mundesore, and the raising of the siege of .N,,e-
much, which had previously been beleaguered,
and attempted to be carried by assault by the
enemy. The country has thus been effectually
relieved after a contest protracted during four
successive days, and the indefatigable STUART was
preparing to follow up his victory by the pursuit
and total subjugation of the rebels. When the
history of the rebellion is written, this distin-
guished officer will occupy a high position among
the Paladins that have so nobly sustained the
honour of the British name, and secured and
consolidated the British supremacy in Hindostan.

Gold is now rapidly accumulating in the Bank
of England. The quotations of public securities
are looking upwards, and money in Lombard-
street is even cheaper than at the quasi National
Bauk ! These matters are triumphantly referred
to by the organs of the hard calculators as being
the felicitous results of the Bank Charter Act,
whereas, on the contrary, they afford convincing
proofs of the terrible evils it has occasioned.

Twice, within ten years, the nation has witnessed
monetary convulsions of the most awful charac-
ter, which shook the trade, commerce, and
manufactuies of the country to their very founda-
tions. Thousands, aye, tens of thousands, of fa-
milies were reduced to the verge of ruin, and
compelled to endure great misery and privations.
The working classes were thrown out of employ-
ment, and compelled to part with the clothes,
furniture, and comforts accumulated during more

auspicious seasons, and on each occasion the same
remedy was resorted to ; and, notwithstanding
the stringent conditions respecting the rate of in-'
terest by which it was accompanied, proved
completely successful. It was the virtualsuspension
of the obnoxious and impolitic code in 1847, the
actual one in 1857 that saved the Bank of Eng-
land and averted a national bankruptcy. These
suspensions practically condemned and annulled
the Act of 1844. They were its moral abroga-
tion. It is impossible for any, even the most
prejudiced person, to contend that, although

it might not have been the sole cause of the mis-
chief, it materially aggravated the panic, and
enhanced the fearful consequences to the exagge-
rated dimensions which they ultimately assumed.
We have assuredly " paid a high price for
our whistle," in preserving —not " the integrity
of the standard," as it has been termed, for the
convertibility of the bank note would have been
preserved without the restrictions imposed by the
Bank Charter Act, and was, in fact, only endan-
gered by its operation—but the high value of
money, or rather the ex.oxbitaut and usurious TWA,
of discount so dear to the hearts of the
hard calculators. We know that trade is
still dull—that even the most solrlient houses
aro unwilling to enter into new eiagagemepts.
There seems to be a winding-up in Many cases,
which, although of but a temporary character, is
still very injurious, both to the Exchequer and to
the community. There are platitudes " uttered
about the removal of unsound principles and the
purification of the commercial atmosphere. But
these are some of the stock phrases used at all
times of distress and difficulty to mystify and
sonfuse those who will not take the trouble to
master the important question at issue, on which
their own welfare, prosperity, and happiness so
greatly depend.
The real attack is on credit—credit too in its
most important form, that of paper money.
Should it be set aside, all other must and will fol-
low. It was credit and the facilities for obtaining
pecuniary accommodation at reasonable and mode-
rate rates, that produced the commercial supre-
macy of Great Britain, and elevated her to the
palmy position she has so long occupied in
the scale of nations. Now we are striving to
change all that. Formerly money dealers were
prohibited from charging more than 5 per cent.
for discount, and England flourished, and those
very money-lenders realised large fortunes. Now
we have changed all that, and the Leviathan Es-
tablishment was prohibited from charging less than
10 per cent. And what has been the condition of
the country ? Distress and difficulty have been
perceptible on every side. The real creators and
producers of national wealth have been converted,
as if by a touch of the enchanter's wand, into un-
profitable consumers. Commercial activity, once re-
garded as of vital import, is considered an evil to
be guarded against, and the sources of the national
revenue are dried up. In return for all this,
"the integrity of the standard has been pre-
served," and gold is made the circulating medium
of the country, in which every domestic trans-
action is arranged, very uselessly and unneces-
sarily, as must be obvious to every disinterested
and unpr(judiced inquirer.

We invite the attention of the public to a public
demonstration at Ealing in token of sincere regard
to a worthy, but poor and persecuted, pastor—a
man who must have obtained the affection and
respect of his flock, in botter days, or they would
not now so honour him in his adversity.
It seems the late Bishop of London (BLOOM-
FIELD) permitted some acts of stern injustice, either
knowingly or heedlessly, tc, be inflicted on the
Rev. Mr. LAMBERT, by his Commissioners for the
time being, and the parishioners, much to their
honour, have come forward spontaneously to ex-
press their condolence in his behalf. It is always
gratifying to witness the honest feeling of
Englishmen so proudly and so generously
manifested, in favour of the oppressed as in
this case of Mr. LAMBERT. We detest tyranny
in whatever shape it may appear, but it
is always more odious in priestly
guise—preacbing meekness and good-will to men,
but pfactising the very vilest hypocrisy in the
PLuis breath. Let us hope that the present
"hood., 11.C.1.
for the ~ i
,op of LONDON " may partly atone
, .. Ilianted errors" of his very learned
preaecessor,
to Teat°
into the ease 0 Mr. Ltatat
sufficient cause-
,Y feel assured that if he will look
RT, he will see just and
rer an honest man to his
grateful congregation and rejoicing
friends.

LATEST NEWS.

INDIA.

TRIESTt, DEC. 28.

The steamer from Alexandria arrived hero this
day (the 28th) at 11 o'clock p.m., in 125 hours,
from Alexandria.

The Calcutta and China mails had left Alexan-
dria with dates from Calcutta to the 25th of No-
vember ; Madras, 28th ; Ceylon, December, 2 ;
and Hongkong, November 15.
The news of the relief of Lucknow is confirmed..
The enemy is said to have fought desperately.
1,500 bodies of Sepoys were counted in one gar-
den. The rebels had not evacuated Lucknow.

Sir Colin Campbell asks for reinforcements.
Three companies of the 34th Native Infantry
mutinied at Chittagong on the 19th November,
and had marched to Dacca. Ono hundred Euro-
peans had been sent to intercept them. No Eurc-

peans were killed.
The Calcutta markets were almost unchanged.
The money-market had improved. Exchange,
2s. lid. to 2s. 2d. for credits.
At Madras the money-market continued easy.
There had been a further reduction in the bank

rates.

Exchange was unaltered.

CHINA.

The American Commissioner has arrived at

Hong Kong in the Minnesota.

The fleet is about to move into Canton River.
Thq French fleet will co-operate with the FonHsi).

Operations were not to be commenced imme-

diaiely.

The Russian Commissioner was at Hong Kong.
'Exchange at Hong Kong, 4s. lOid. to 4s. 11d.

At Shanghai silk had given way 10 doll. to 15
doh. Exchange, Gs. Bd. to 6s. Bid. for credits.

ALEXANDRIA, DEC. 14.

The different detachments brought here by the

steam-transports Sultan and Nemesis, have ar-
rived at Suez under the command of Colonel

Mackirdy.
These detachments formed a total of about 1,100
men, of whom only four were on the sick list, and

not with any serious illness.

The transit from Southampton to Suez was
effected in the most satisfactory manner.
It is stated that the India Company have made
arrangements for the passage of a thousand men
a-month through Egypt to Calcutta or Bombay.

AUSTRALIA.
PLYMOI7TH, MONDAY.

The ship Suffolk, Capt. J. B. Martin, belong-
ing to Messrs. Wigram, of London, has landed
about 100 passengers here. She left Hobson's
Bay October 5, rounded Cape Horn November 3,
crossed the line December 4, and made the Lizard
on the evening of Christmas-day.
The Suffolk has a full cargo of copper ore, tal-
low, and wool, and brings one of the largest
freights of gold-dust ever sent in a sailing ship,
viz., 145,000 ounces ; besides which there is a
considerable amount in the hands of her passen-
gers—altogether 240, including Major Green-
wood, New Zealand Staff, several young colonists
for education in England, and many successful
diggers, ono of whom has ,a nugget weighing
274 lb.

The Suff)lk spoke, south of the line, the
schooner Therese, 15 days from Buenos AyreF,
fof Plymouth ; and, Dacember 13, the Dutch
ship Frederick 1., 72 days from Batavia, for
Rotterdam.

panied by an, intograph letter from the Elector.
The Emperor afterwards received M. de Scheele,
privy councillor and bailiff of the lordship of .Pinne-
burg, in Holstein, who was presented by the
Danish minister. M. Balcarce, the new charge
d'affaires for Buenos Ayres, was also presented.
The Maniteur contains an Imperial decree per-
mitting a numbee of French officers and civilians
to wear different foreign orders. Among the per-
sons named are Baron de Bourgoing, equerry to
the Emperor, who has received the decoration of
officer of the Baden Order of the Lion of Zceringen,
of the Belgian Order of Leopold, of the Russian
Order of Ste. Anne, 2d class, atad of the Wurtem-
berg Order of Frederick ; General Count de Goyon,
the Russian Order of Ste. Anne, Ist class ; General
Baron. Fririon, the Russian order of St. Stanislaus,
14 class ' • Baron de Lacrosse, Senator, the Turkish
Order of the Medjidie, 2d class.
BOURSE, Dec. 28.—The market has evinced
great steadiness, and prices have improved, owing
to a rise of 4 per cent. on the English Consols.