Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-11-19
COTTON DE LINED.
HALF A MILLION IN SPECIE.
FAILURES IN ENGLAND.

ToHtcauy, the news by TINS arrival Is mere
ly interesting, but financially, it is of the high.
est importance.
The pressure in the money market was
again excessive, consequent upon the advance
of the Bank of England of its rate of dis.
count to per cent. The advance caused no
| dimnution in the demand for money.
The suspension of Messrs. Naylor Vickers
& Co, of Sheffield, is announced. Their IL
abilities are stated at E600 900 to overG1 ,0O0,-
900 sterling, but their assets will more than
| cover the amount
The other failures reported, include NJ essrs.
Powell, Brothers & Co., of London, and w.
| Orr & Co., of Liverpool.
The Paris money market was unsettled but
there had as yet been no advance in the rate
eff discount
At banquet given at the mansion house
of the Duke OF Cambridge, he spoke in favor
| of the most summary vengeance against the
Sepoy.
The Continental news is not of a particular
ly important description.
The United States frigate Niagara sailed
from Plymouth on the 9Th inst. for home.
Her officers had farewell banquet given
them by the commander and officers OF the
British flag ship on the station.
Financial affairs are still of paramount i'm
portance. On Wednesday, the 4th, consols
fell to 80, and there was increased anxiety
and pressure in the money market, under the
apprehension of further rise in the bank ra-
ito; but the heavy payments Of the 4th were
well met The suspension of Powles Broth
eis & Co. was announced acceptances to the
amount of about ESQ, 900. The ratio of dis
count at Hamburg have advanced to per
cent.
On Thursday the 9Th, the Bank of England
as was apprehended, raised the rate Of dis
count from to the Unprecedented rate of
per cent. This movement, however failed to
abate the demand for money. which eontin-
ued without dimiDulion throughout Thurs
day. The Daily Times thinks the continued
pressure must be mainly caused by alarm, and
the consequent desire of every person to be
over-suppled. Suggestions were current
that government should be called upon for
palliatives, but the Times argues that there is
not shadow of pretext for such a course.
The funds Auctuated about IL per cent.
during the day, closing at 8S 2 a S8 5.8.
The difficulties of Naylor, Vickens, & Co.,
of Sheffield, are believed to be temporary and
solely attributed to cessation of remittances
from America. w. Orr & Co., of Liverpool,
in the River Platte trade, have also sus-
pended.
A public meeting of the merchants appoint
ed deputation to proceed in London, to
wait upon the Government, and urge the ne
cessity ofimmediate measures for commercial
reliet
LATEST. The applications for money at the
bank on Friday, were numerous, but no new
difficulties had transpired. Consols advanced
early in the day, but subsequently reacted
The Times urges suspension of the export
of specie in India, and Ihda is rich enough to
bes.left to her own resources.
Nil, hoI; -
deputation arrived in London on Friday
night. They will, it is understood, urge up.
on Government the advisability of suspending
some of the provisions of the bank charter act,
as was done In 1857 Movements, with SINH.
lar object, may be shortly looked for in other
| districts.
| The Freedom of the city of London, and
a splendid sword were formally presented to
| the Duke of Cambridge on the 4th inst. The
| Lord Mayor gave grand banquet in honor Of
| the Court, which was attended by several
| Cabinet Ministers and Foreign Ambassadors,
| including Mr.. Dallas. The Duke of Cam
| bridge, in his speech, extolled the conduct of
the British army in India, and advocated
maintenance of the War Establishment in an
efficient state.
'Mr. Dallas, after making remarks appro-
pirate to the event of the day, spoke as fol-
lows, in regard the India mutiny:
MR.. DALLAs's SPEECH.
"Sympathy has been invoked from foreig n
nations, III reference to the state of affairs in
India. am not here to speak as to the ex-
tent to which my Government, or the people
of the United States, sympathize with the
struggle Of England against India. That is
not the thought l wish to express. The
thought that wish to express is, in reference
to the treatment that is to be dealt TO those
who have distinguished themselves in the
field Of crime in that unhappy region. Now
crimes are Of various descriptions. Mutiny
and murder are heavy crimes-they are dark
and gloomy crimes, but they were crimes
known to us all, and they are crimes commit
ted in almost every community, and under
almost every government. Penalties are spe-
officially provided for those crimes, in respec-
tive criminal codes of various counties. Let
such crimes be punished where they occur,
according to law. That is the first and clear
est principle of action. But there are other
crimes-crimes, at least, of another character,
which became so monstrous as to assume
an attitude of enmity to the human race-not
merely crimes committed with reference to
the power Of India-not merely crimes inim-
ical to England-not merely crimes inimical
to Europe and its civilization-but crimes
that constitute their perpetrators what pirates
|
4enemies of the human race-and meeting
not from one nation, not from one people, but
from the whole of the human race summary
and exemplary extirpation."
This as it appears to me is not the language
of any particular individual or any particular
country but the language of human nature
and though l am unable to say how far such
language may be concurred in by the great
mass of my fellow ,eltrzens on the opposite
side OF the Atlantic yet l think know them
well enough to say that no language can BE-
too strong-no words too impressiye--nC
force too sudden--no blow too severe, fol
crimes such as those which have been perpe
trated in India" The speech was received
with great cheering.
Lord BIougham officiated at the Inaugura'
ton Of the Queens College, Liverpool. Ii
the course Of his remarks he strongly de
nounced the encouragement Of African Ere,
Emigration by France, stating that it was re-
viving the slave trade, and had caused sus
pension Of civilizing commerce in Africa.
Parliament has been further prorogued t.
Dec. l7ih.
The Borough Bank of Liverpoollwas paying
all deposits under f200.
The Kings of Sardinia and Greece eacl
subscribed ten thousand francs to the lndii
Relief Fund.
The London Times has an article on Cen
trail American Affairs and hopes for amioab
adjustment Of pending questions, out Of 81
w. Gore Ousley's mission and an early reali
cation Of tho Canal across the Isthmus.
No further attempt had been made to launcl