The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-26


LONDON, Friday Evening, March 9, l549
Since the departure of last steamer, events of
"Impor great" have occurred IN Europe. On Sa.
turday last, extraordinary courier arrived with
dispatches from India, announcing that desperate
battle had taken place India, the banks of the
Jhellum, against the Sikhs, IN which twenty six
officers, many of high rank, were killed, sixty-sx
more or less dangerously wounded, and $500 Bri-
tlsh soldiers killed or wounded One regiment of
cavalry Is reported to have fled, and, altogether,
though claimed as victory, 1t looks like defeat.
The defeated Slkhs fired twenty one guns in honor
of the battle, and mutiated the dead and dying SOL
ders On the battle field. Another such disastrous
victory, says morning paper, and our Indian EN-
pre- will tottsr.
] enclose you full account of the battle of
Chlllianwallah. To insert it here, would make
my letter too long. 1 shall turn at once to the
effect produced by this disastrous intelligence In
London and England.
The first effect was Lheavy fall in the funds,
which receded per cent. A regular gloom per-
vaded the city; 1t was like dark cloud, darksn-
ing the commercial horizon.
On Monday, 5th, the funds opened at the closing
pnces Of Saturday, but almos. Immediately after
the commencement of business they began to de-
cline, and fall of a half per cent took place. In
the middle OF the day, however, better ieeilng
gained ground, and report having been confident
~ circulated, that either Lord HardInge or Sir G.
Napier would forthwith proceed to take the COM
mand In India, the market ultimately recovered,
and closed at an advance of quarter per cent on
the first quotations. Consols began at 9l3 to /,
went to 81, and lett off at 9Ii to i Bank Stock
closed 1913 to 1876; Reduced Three per Gents, 9lf
to 4; hree-and-a.Q uarter per Cents, 92S to 4;
Long Annuties, 9; India Stock, In which Il good
transacted. ID nd
Bonds, 53s. to Sos; and Exchequer-bills, Ais. to
43s. premium.
1t became evident that some step was nece ssary
I" restore confidence. On Monday, Hume rose IN
the House, IN the midst Of breathless SILENCE
and said -
Seeing her Maje,tys Min.ter, the First Lord Of the
Treasury in his place wish to put to him question
which have considerable difficulty hAping rs to
obtain sufficient degree OF information in reply But,
alter the statements which have had in the Gazee
OF Saturday and also In prior Gazette ~ to affairs
lBeia the condition Of that country longer be
matter Of indifference to any one VINO looks to the
future perity the empire from eli parts
Of the House should be sorry to PREJUDICE any man,
especially absent man, but certain ac t. detailed in
dispatches received three or four weeks whoutr
ference to the late most melancholy transaction appear
to warrant me- in asking whether any measures have
been taken by her Msjesys government to place che
army In ds under sucn command that there ehail
BE- confidence both in the officers and men, that the
army will be put in posesop OF all those dvantages
or military art and scie of which We q civilized
people, ought 10 obtain the beneit loud cheers
from all parts Of the house It aces not appear that
either that art or that science has lately been dis
played have, therefore, to ask the Cover nment what
s,eps- or whether ANY steps-have been taken with
ference to the subject? Cloud cries Of hear, hear ~
Lord J. RUssELL-The subject of India and the state
OF the military operations IN India must be matters
not Of Indifference but Of the deepest interest to every
m mbers OF this House. loud erie. OF hear, hear ~
can only say At present, that after considering the
intelligence which has been received, her Nsjesty's
government have offered TO her Majesty that advice
~sich they think best calculated 10 meet the emer-
esssy .ni1n a. pft ss exist, esr hsar have
but as soon as can communicate it pu elicy to the
House, will lose no time in doing so. loud cheers
from both s!des OF the House
The result OF THE was, that Sir Charles Napier
Che hero OF Scinde, as he is termed) has been ap-
pointed COnman6er.ln. Chez Of the British troops
in India, and will start immediately Tor his post
with tail powers This must be bitter pill To the
East IadIa Directors, as be at Ioggerheads
With them and il Is not long since that come very
violent letters appeared In the public journals on
the dispute between the two PARTIES: the voice of
public opinion wac, however, too strong. Napier
will, however, arrive when ali is over Great
anxiety prevails as TO the intelligence OF next
mail
There has been a great fuctnation IN our funds
all the past week, owing 10 the intelligence from
Italy, and the rise In The French funds, which has
been per cent. 1t IL announced, however, this
morning, ano partially credited. that fighting has
CONNIE need IN Italy between the Austrlans and
Italians.
To-day Fnday), Consols for Money are doing
at 91j TO 9l3.
For Account 9th AprD, 91I to o.
Uuder the head OF Commercial In telligence, you
will find the fluctuations of our funds, foreign
cunues, &c. DC.
THE CONTINENT.
The turn Of affairs taken in Italy has tended in
no small degree to shake confidence The Grand
BulIdog-the hospital Of decsyed monarchs-and