Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-10-28

the smaller denominations Of notes which they
issus. These constitute the large amount OF
the notes they are able to issue and keep in CiT-
~saIatiOn. It Is these which hl the ordinary
and main channels OF currency, and which dis
place and expel from common circulation gold
and silver coin. Prohibit the issue and eireu
~lation Of small notes, and the cola inevitably
flows back among US and 6ls the common chan
nels Of currency, and keeps with US a plentiful
supply OF gold and silver.
Thisis the chief evil Of banks which needs
reform. But already these remarks have been
prolonged too far. The editors will excuse
their careless style, for the ordinary avocations
Of the writer do not allow the time for care
full writing or correction Of any slovslly die
ton. S.
FOREIGN ITEMS.
The English have had a day Of fasting and
prayer respecting their East Indian troubles
The English papers are filled with reports Of
the sermons. The London Tfmss dspotes
twenty-six columns to matter, embracing ex-
tracts from the discOurses delivered In one
hundred and sixty-four churches. Rev. A. B.
Spurgeon addressed al the Crystal Palace the
largest audience that has ever assembled in
modern times 10 listen 10 the ministry OF the
Gospel. Nearly $4,000 Of people were pres
ent. A large sum was collected In aid Of he
Indian Relief Fund, and the contributions
At churches generally were on a liberal
scale.
A proclamation had been issued by the Irish
authorities extending the limits Of the pro-
claimed district around Belfast, information
having been received that the people, instead
Of delivering up their arms, were concealing
them outside the original limits, so that thew
would be available ia case Of fresh disturb
ances.
The private advicss from Liverpool and
London which extend Town to the afternoon
Of Saturday, are very blue The Persia's ad-
vices were received that day amounting the
suspension Of the Maryland. Rhode Island and
other banks, aud produced the greatest excite
ment IN all quarters, and a general suspension
OF business. Consols were opened on Satur-
day at SO, being a fail Of It per cent, and the
tendency of the market was still downward.
The demand for money was active In all quart
srs, and the applications at bank had largely
increased Many orders previously seat TO the
United States Tor cotton had either been count.
ermand or the limits materially reduced. The
market at Liverpool meanwhile also closed
in a desponding state, and the eighth advance
obtained IN the early part Of the week had
been entirely los. Middlings were offered on
Saturday at s99td., but only small sales could
be effected Trades generally received a sud-
den unexpected stock, and further advices from
America were looked for with the most cain
fIl interest.
The increase in the rate Of discount by the
bank OF England is regarded as only The CON-
meneengnt OF a continued tightening Of the
screws, and many were predicting that the
RAJ es would 90 to eight If not nine per cent.
Hrnm Paris the aur~ur4a .. a. L.
money being 10 a great demand and the stock
market In a state Of suspense.
Telegraphic adviess from Manchester, dated
Saturday, represent trade az quiet with much
uncertainty prevailing, and money very string
ent.
Political affairs in Europe were Of second.
airy, consideration in all leading cities, in view
Of the threatening aspect Of the American
CRIES, and the probable effect upon the trade
/ and Of the old world.
Six Russian vessels had ~dissmbarked troops
al Abass, burned the bazaar aad destroyed the
shipping. The Russian Minister Of Marine
has officially reported the loss Of the line Of
battle chip Befort. An on board persisted
including Is officers, 743 seamen, SO womef
and II children. The same storm caused
other disasters and loss Of life in various parts
Of the Baltic.
Ia Turkey, CALI was nearly destroyed By
he. Paper money had deprecated twenty pei
cent.
The London Star states that the Governor.
General Of India was 10 be recalled. The
MoraiHg Chroaids processes to have good au-
thoTity for stating that steps will be taken i'm.
mediately to proclaim Queen Victoria as En-
press Of Hindostan, and says that the next tel
egraPhic adyiees will probably bring the news
Of such a proclamation at Calcutta.
China Yieeroy Yeh bad issued a proclamation
attrbuting the departure Of the British troops
to India to fear created by bis military pTePa-
~rations.
Omar Pasha is charged with The duty Of es-
tablishing a line Of steamers upon tue Tigris,
and upon the lower Eaphrates, and with pro-
lection Of commerce against the Arabs. L is
stated that the Arabs have tried 70 destroy the
posts OF the telegraph in order TO show their
sympathy with the Indian mutinsers.
The London Dispatch says:
1t consists with our certain knowledge that
Russian and other European officers are al this
moment hOcking to Hind0staH 70 command the
%reyOltel Sspoys."
There was a falling of Of no less than E427, >
$50 IN the exports 10 India las. month. as con-
pared with the corresponding period last year.
The English report en- railways, forthe year
1896, gives the following items The average
! rate OF dlVlurut vac three 80 ta=@i-a nar cat
The total Of passengers conveyed in 1896, wss
I29, 347 ,592, being an increase Of 10, 1872 .457 on
the previous year; and the number conveyed
per mile Of railway open was 1928 against
Il, DOB IN 1880, the receipts per mile being
El.194 against El,164. Only one traveller 10
10, 16S,449 has been killed. and one in $3.50
injured, showing a degree Of greater safety
than in any since 1851. The general effects Of
The raising or lowering Of fares are detailed,
and the result appears 20 be against the policy
of high charges. The length Of line open for
traffic in the United Kingdom on the 30th Of
June, 1856, was $500 miles. and The persons
employed amounted 70 lO2, III, OF y per mile.
There were also 963 miles in course Of con-
s~truction at that period, of which about 2OS
opened before the end Of the yesr. The whole
are double lines, excepting 2,5II miles. Be-
tween Z. 900 and 5000 miles authorized by Par
lament remain 10 be constructed. The total
will then be l3,lT3 miles-namely, eco in
England aRd Wales, 1s6i7 in Scotland, and
1876 ia Ireland.
Prince Frederick William Of Prussia, will.
according to arrangement proceed TO England
in November, and pay a visit to the English
court, on the 2lst Of that month, which is the
birthday Of the Princess ROYAL The wedding
dsy is fixed for the 18th OF January.
The Emperor Of Russia has sent his ABIDE
camp, Galitziu, to Ssbastopoi, 70 inquire into
A charge made against certain Russians, Of
having dssscrated tombs in the French and
English cemeteries there, and to punish the
guilty parties.
The Fellow fever has made its appearance
IN Lisbon. 1t il believed to have been import
ed in merchandise from South America, and to
have been fostered BY the heat Of the weather.
In South Australia, ! marriage bill which
makes legal a marriage with a deceased wifs's
sister, has been read a second time. A clause
is to be introduced providing that elergmen
shall not be compelleS to solennizs such a
marriage.