The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-01-11 00:00:00

FOREIGN INTELLIGE,ATE

INDIA

The intelligence received at Bombay just as the steamer
containing the Overland Mail was about to sail is, if true—
when taken in connection with the other undoubted occur-
rences—of the most momentous importance. Firstly, then,
it is certain that all the tribes of Affghanistln are more or
less in arms against the British forces ; to us.? the prophetic
language of Sir Henry Willock, " every man in the.country
is at enmity with us ; the public roads are infested with rob-
bers, and communication with distant par?s it; only practi-
cable for large detachments," and even for large detachments
with difficulty and through slaughter. General Sir R. Sale,
on his return to india with his brigade 3.000 strong, has

literally had to cut his way through the Koord pass ; and
after fifteen days' hard fighting over sixty miles of ground,
and losing 240 men and ten officers, he "escaped to, a 1 destruc-
tion, not by victory, but from the want of skill of enemy.
And even at the latest dates the safety of his brigade was
very doubtful. Saconclly, it is scarcely to be dottbted that
near Candahar, Captain Woodburn and 100 men had been
attacked, and, after a desperate resistance, slaughtered to a
man by the Affghans.
Thirdly, it is almost certain that 5,000 additional troops
were under orders for instant march to Affghanistan , which
will make no trifling addition to the five millions .sterling
which the possession of that country, it is estimated, will,
during 1842, without any extraordinary occurrences, cost
India.
This intelligence is sufficiently disastrous, but worse re-
mains behind, if it can be relied on. Cabool itself is re-
ported to be in insurrection, and amongst the first victitus of
the revolt is said to have been Sir Alexander Burnes, .than
whom British India does not possess an abler servant ‘ar a
more gallant man. The Agra Ukhbar in making this str.te-
ment doubts its accuracy, and these doubts are repeated by
the Bombay Times: still, whatever may be its truth or f.tl-
lacy, our envoy at that capital,. with 10,000 men at his coma-
mend, appears to be literally in a state of blockade.

REVIEW OF THE STATE OF TRADE

(From Yesterday's Times)
The mercantile circular of Messrs. Trueman and Cook, of
London, and the mercantile circular of Messrs. Buchanan .
and Co., of Liverpool, in reviewing the state of trade during
the past year, agree in most points as to the causes which
hare made it one of so little profit to those engaged in busi-
ness. Both firms appear to carry their observations back to
the date of the establishment of joint-stock banks, and the
redundancy iu circulation created by their reckless advances
of monies, as one' of the chief causes which have produced
the late extreme depression of trade. These advances, they
say, called into existence mills and machinery to an extent
which carried production far beyond reasonable bounds. A
succession of bad harvests is also quoted as having had a
powerful influence in bringing about so much derangement ;
for the quantities of foreign wheat and flour on which duty
has been paid for consumption in the United Kingdom
were, in 1838, equal to 1,834,453 quarters ; in 1839,
2,681,390 quarters; in 1840, 2,436,665 quarters; in 1841,
2,413,216 quarters ; making together 9,3b5,724 quarters in
four years, for which little short of :C20,000,000 were paid to
exporting countries, whereas in the four preceding years the
amount in value was not more than £500,000. Reference is
also strongly And pointedly made to the suspension by the
American States, and the failure of houses in that trade,
which, having *.large amount of capital locked op on the
other side of the Atlantic, have been reduced to the neces-
sity of winding up till the derangement in trade has passed ;
while also the state of our foreign relations is indicated as
having pressed heavily on business in all departments. With
respect to the future, Messrs. Trueman and Cook write—
" l t is highly satisfactory to observe, in regard to the position
of our monetary affairs, upon which a return to prosperity
much depends, that the year commences with a change for
the better, so decided as to form quite a contrast to what has
been long experienced. The Bank of England was never
more at ease, for bullion is flowing in from all quarters ; and
their stock in about two or three months has increased
£2,000,000, being now £6,000,000, and even allowing for
some check for further imports of corn, it is not unrea-
sonable to expect that by the month of April, the accumula-
tion will have reached at least £7,000,000.
Messrs. Buchanan and Co. take much the same view of
the effect of the late large influx of specie upon the stock of
bullion in the bank, although they hardly gave so high an
estimate of the amount by nearly £1,000,000, and form a
similar opinion as to a favourable return in business, if it is
followed with prudence and caution. On the subject of
foreign investments they state—" Previous to this period
(alluding to about eleven years ago, which was the period
when the disposition sprang up to seek a new system for the
employment of capital) surplus money had been very generally
lodged in the hands of experienced private bankers at a
moderate interest, and was employed by them with prudence
and judgment, the more so because it was loaned on their
individual responsibility. So soon, however. as the various
foreign and domestic joint stock projections began to come
in favour with the British public, more particularly those of
the United States of America, then these deposits were
gradually withdrawn, and invested from time to time, toge-
ther with constant and enormous annual accumulations,
in undertakings rendered tempting, not, as it should have
been, by the reasonable prospect of ultimate success, be-
cause based on solid foundations, but by the temptation
afforded in the shape of high interest or a quick premium.
This species of gambling in time produced reflection on the
part of some, and more correct information of the real state
of affairs on the part of others ; induced the initiated from
one or the other of these motives to pocket the early bonuses,
and leave the unwary in the lurch. Ruinous as many of our
local schemes have been, in the United States of America,
where a very large amount of British money was invested,
the results are disastrous in the extreme. The absolute ex-
tinction of capital by many of these projections is enormous,
and the buoyancy of trade and commerce necessarily crippled
thereby. These remarks, though applying to the monied
interest generally, do particularly so to business men having
moderate surplus means, and a class of people not concerned
with trade."

UNIVERSITY AND CLERICAL INTELLIGENCE

(From the Oxford Herald.)
On Monday last, Mr. Henry Master White, and on
Tuesday, Mr. John Ward Goodenough, were admitted Actual
Fellows of New College, the former afier two years of proba-
tion, the latter as of kin to the Founder.
The Rev. G. Webster, 8.A., of Exeter College, has been
presented to the Curacy of St. Peter's Mancroft, Norwich.
The Rev. Hugh Pearson, M.A., of Balliol College, has
been presented to the Vicarage of Sonning, Berks, void by
the resignation of the Rev. G. E. How man.
The Rev. W. Renaud, 8.A., of Exeter College, has been
presented to the Curacy of Norton-by-Daventry.

PROMOTIONS.
Rev. George Lloyd, 8.A., to the Perpetual Curacy of
Willesley, in the county of Derby ; patron, Sir Charles A.
Hastings, Bart.
Rev. W. Foster, Rector of Colon, to the Living of
Loughilley, and the Rev. A. Adams, Rector of Ballymakinny,
to the Rectory of Colon.
Owing to the demise of the Rev. Charles Smith, the late
Vicar-General of Elphin, the following promotions have now
taken place in that diocese :—The Rev. Henry Hunt, M.A.,
the Rector of Ahaskeragh, to be Vicar-General; the Rev.
Joseph Morton, to be Surrogate of Elphin; the Rev. A. T.
Gillmor, Surrogate of Sligo; and the Rev. Hugh Murray,
Surrogate of Athlone.
Rev. James Stoughton Money, 8.A., of Emmanuel Col-
lege, Cambridge, to the Curacy of Alderley, Gloucestershire.
Rev. William Godfrey, to the Rectory of Bredicot, Wor-
cestershire; patrons, the Dean and Chapter of Worcester.
Rev. J. Edwards, to the Perpetual Curacy of Trinity
Church, Southport, Lancashire.
Rev. Thomas Hughes, M.A., of Wickham Market, to the
Head Mastership of the Woodbridge Grammar School, void
by the resignation of the Rev. Woodthorp Collett.
Rev. C. W. Richards, to the Perpetual Curacy of St.
Chad, Lichffeld.
Rev. E. B. Field, LL.B., of Sidney Sussex College, Cam-
bridge, to the incumbency of the Episcopal Church, Dun-
fermline.
Rev. James Sharpe, 8.A., has been appointed Chaplain on
the Bengal station.
Rev. J. Bartlett, to the Curacy of Leominster.