The Washington union., 1857-10-03

S~i1'pNNS'
sight 1t appears from the bodies we saw that the wo
stripped of their clothes before they mur
dered. We have picked up three women who had He'd
and protected by native.
Yesterday we went with small force into Bhihoor
where the Nena Sahib was and walked into his palace
without firing shot We fired the whole of the place
and burnt the whole Of his houses and property and took
fifteen guns from there The Neaa has dr0oned himself t
his fausy He had an intention of going TO Lucknow
but when he got as far as the river the cavalry and in
fantry deserted him They all gone Off after destroy
ing their arms, to their different homes"
GREAT
The town of Belfast had account of the recent re-
gous riots been proclaimed under the most stringent
provisions of the crime and outrage law" large
stabulary force had been ordered there and the inhab
ants had been called upon to deliver up the and am
munition in their possession.
The Marquis of Lansdowne had declined the dukedom
which rendered him.
The directors Of the Red Sea Telegraph Company have
declined to lay down telegraph line unless upon guar
antied rate of interest
The Bank of England had declared dividend OF o.
per cent. for the half year.
1t is formally announced in French and German papers
that the English government does not intend for the
present, to form o foreign legion.
The great Doncaster St. Leger race was won by 'lm-
pereuse, the two vorites, Blink Bonny and Ignoam-
us, coming in fourth and fifth
Admiral Keppel had been made Knight of the Bath,
and Commodore Elliott Companion of the Bath for their
exploits at Canton.
The small yacht sCharter Oak which recently arrived
Liverpool from New York. has been disposed Of by lot
terry. There two hundred members at one pound
each.
The panic and failures in New York had elected edito-
rial comment from the London Times, Daily News, and
other journals
THR ATLANTIC TELEGRAPH
The Atlantic Telegraph Company have decided to take
the cable out of the Niagara and Agamemnon, and the
British government have given them permission to store
it in Plymouth naval dock yard until it is again needed
for practical operations.
Measures have been adopted by the company for raising
much possible of the submerged cable and the work
is to be Immediately commenced
The directors of the company recently commissioned
three English engineers namely, Mr.. Penn, Mr. Field,
and Mr. Lloyd chef engineer of the steam department
of the British admiralty)to make thorough examina
ton of the cable and all the appliances for submergng
it, and to report the result with such recommendations
for future guidance they may deem advisable These
gentlemen, in company with Mr. Everett the chief cngi
of the Niagara, performed the duty intrusted to
them and report that with the substitution of patent
seadusting break for that previously used and some
modification in the paying out machinery there is no
to doubt that the next attempt to lay the cable
will be successful
An engineering firm have expressed their readiness to
undertake to lay the cable for stated price, with the aid
of government vessels taking all the risk They engage
that the cable shall be laid from Ireland to Newound
land by June July next, they will claim no recon-
pense and they will pay to the company the entire cost
of the cable In the event of the cable being laid before
the stipulated price to be increased at much per
inOnul ioT cach ulohti Baiilcu.
THE FINANCIAL REvuLsIoN UNITED STATES.
We copy the following from the London News OF Sep
tember l6 ...
The announcement of bank and railway panic in the
United States is peculiarly unwecome at the present
moment when depressing influence is exercised up
commercial and monetary affairs In this country by
the attempted revolution in India and when still greater
gloom reigns in France. 1t is most unusual circum
stance for the three greatest money markets Of the world
to be thus simultaneously stricken. In England, how
ever the quiet is merely the quiet Of caution in France
it results from financial exhaustion consequent upon
previously inflated speculation In America the situation
presents many features analogous to that in France but
with this difference that the rotenness nearer the
face of things.
We have long been familiar with the desperate haste
of the American specuator to get rich That speculation
shall beget extravaganza to be law OF Nature for
what is lightly earned is lightly spent. The result is
witnessed in that reckessy prouse style of living which
forms striking feature of society both in Paris and New
York We in London quite sober by comparison For
the root of all these must look mainly to the facilities
afforded to speculation by the modern mania for joint
stock enterprise especially in the direction of railways
England may hope, has passed through her phase of
trial and the lesson has been bitter that there is not
the slightest fear of her again exceeding prudent limits for
a very long period to In fact, the mention
of proposal for the construction of railways within
these islands is sufficient to make capitalists button up
their pockets in haste unless liberal guarantee from
powerful company similarly exceptional induce
| ment, be held out.
four winds of Heaven and construct railways for any civ
ilized nations of the earth but the idea of making fresh
railways at home after the experience already gained
they utterly scout The cost of this experience is such
proportion of the three hundred millions sterling and up
wards already expended has been absolutely wasted
and vast sum this proportion represents Other
have yet to pay for their railway experience and the
price will probably, in many instances be high
OF late years France has been repeatedly the verge of
serious financial embarrassment through investing too
| largely in earth-works. f1
In America the establishment of the railway system has
led to panics all inferior in severity
however, to the present Americans refuse to allow
that they have made their railways too quickly yet how
often do hear them contrasting the number of miles
constructed in the States with those executed by Europe
and boastng of the superior energy and enterprise of their
feow-countrymen. After making allowance for the
paratvely low cost of the American railways this very
comparison is sufficient to induce apprehension that
Young community like the United States whose moneyed
capacity is yet far below that of England France has
sown the seeds of the present difficulty through undue
/ haste in railway construction
But this is only part of the evil After the American
railways had been completed, the stockholders, as has
also happened in England have exhibited censurable
degree of apathy, by ntrusng the management many
cases. of strongly pronounced speculative tenden
ces under whose guidance perilousy lax system of
counts has grown up Hence has arisen large of
floating debt calling for renewal periodically whatever
may be the state of the money market At period of
panic like the present there is consequently, complete
for money the part of such railway companies
AZ may happen to want funds to meet liabilities falling
due What can be imagined dscreditable to the
whole American railway interest than the described
by the last mail of the entire financial metropolis wait
ing in trembling impatence to learn whether Of the