The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-31

IRON the necessity or provdlnR TOT lneulate aDul-
ties and for creating preferential securities but as
The traffic of the country is in rapid developement,
the ultimate returns will In most cases. restore reve-
to the various classes of bondholders and share
holders In some instances, however, the first or
other class of bondholders will have got possession Of
the works. and destroyed the security of all other
classes of creditors The prospects and position of
each line depend, however, on individual circuml-
stances, and can only be determined in detail.
The War In India.
CONVOY FROM DELHI FOR CAwNPoRE.
A correspondent of the London Times hasforward-
ter received by him from his SON. who supaintends
the commissariat at Delhi, dated December L.
We are about to start an immense convoy, collect
ed here and by the commissary at Meerut, for the
force at Cawnpore. We have conformity assembled
lo0 elephants, 1000, camels, and 20, 600 buocks,
nice collection of animals to escort safely with all
their attendants, nearly 10000 men, down the road
$50 miles to Cawnpore with Futteghur only 20 miles
- the left Of that road, and Calpee to the right,
both held by a strong force Of the rebels We can
only afford, as escort for this string of animals,
which will occupy nearly ten miles of road, one
European regiment, reduced or weak in numbers;
one troop OF horse artillery squadron of carbineers,
and corps of Sikh cavalry. It is a curious and a
credible thing that unaided from home. we have
not only taken Delhi, but have already sent 1000
men from here to the Commander-in-Chief, and are
still able to send him nearly 1000 more.
The London Ne,os of January Is says
A report has reached us-we regret to add, from
. reliable source-that as soon Maun Sings ad-
Seson to the insqrgent cause in Dude became
stood aloof fastened to make the best terms they
could for themselves with the rebels II is stated
that, with view to make their accession the more
acceptable, such of them as had previously conceal
ed and protected European fugitives delivered them
up to the enemy, and that all unfortunate cou-
trymen and countrywomen thus surrendered have
been butchered.
Interesting from China.
PREPARATIONS FOR rHE ATTACK ON CANrON-oF-
FICIAL CONFERENCE AT MACAO-CoMMIssIONER
REED IN SOLITUDE ON THE MINNEsOTA-wHAT
WILL LORD EJGN ASK OF YEH-BRfTisH IGSO-
RANCE OF THE EMPIRE.
B0ng Kong Nov. 28) Correspondence Of London Times
On the 18th the Calcutta flagship moved from her
moorings in this harbor and proceeded towards Can
son. She is now anchored off Tiger Island, and is
occupied in throwing shells with marvellous precision
into three large targets.
Three days ago there was an impression through
out the colony that decisive advance was to be
made on the morrow, and Judgment effected upon
the large island of Honam, Immediately opposite the
factories. Either this intention was never enter
tanned or it reconsidered for the day passed
over, and every one is again asking, What are we
waiting forF All things are in a state of prepare
tion. The four mortars destined for the special
benefit of Coughs Fort are gone up, the ships are
all clustered up and down within three hours
housed in their barracks at Wanting, ready to be
embarked az a moments notice, the storeship ia
close 70 the scene of operations, the Furious has
been denuded OF her useless main deck guns, and
powerful still in her upper deck armament, has been
fitted to convey Lord Elgin and his suite to point
whence he can commence his Negotiations" the
French ready, for am told that the cooperation
Of the Capricieuse is not made q sine qua Our
600 engineers, artillerymen, and men Of the 59th
can be embarked and carried up in twentyfour hours
Moreover, it is whispered that the proclamatons to
the citizens all printed off, and it is loudly
serted by gentlemen whose means Of correct infor.
ion uDo oh a qlh Are not Ohvi.
GUS that Lord Elgn has his utimatum In his pocket,
carefully translated into choice Mandarin Chinese
Why, then, does be not go up and send In his sum-
mons, and open the ball?
Meanwhile, Lord Elgin has taken possession Of
General Ashburnham's vacated quarters-Head.
quarters house; the French Plenipotentiary is at
Macao and 70 Is the Russian Plenpotentiary, Count
Putiatin; and Lord Elgin has just gone In gunboat
70 hold sweet with his diplomatic compeers.
Meanwhile Mr. Commissioner Reed, careful not to
involve himself in entangling alliances, remains in
sulky solitude on board his monster frigate the
Minnesota, doing penance probably for his country
mems wickedness in knocking down that Chinese
fort. II Is rather fortunate, perhaps that the nten-
bons Of the Minnesota are so placable, and that,
though she has such large teeth, she has made
compact with herself not TO bite; for the only place
In the China seas that she could possibly lombard
would be this city of Victoria Great power which
the possessor wills not TO exercise Is imposing, but
great power which the possessor cannot exercise
rather OF the ridiculous, and am afraid the
Minnesota In the China IL suggestive Of the lat
Ter sentiment II II a pity that Mr.. Reed has not
more appropriate vessels and more chivarous part
20 plays for the few who have been brought into CON
tact with him here speak OF him as an able and
courteous gentleman
Count Putiatin's appearance has, apprehend, no
purport beyond that of paying his respects TO Lord
Elgin. His account Of his treatment at the Peiho
differs entirely from that given by the Chinese. lie
makes secret of saying that he Is dissatisfied with
the reception accorded 10 him by the authorities at
the port Of Pekn. Probably the fact is, as conec-
tured at the time, that the Chinese report was die
tated by Chinese policy; but II may be just possible
that the Counts unreseved expressions Of discomfort
may not be quite so frank they appear. However,
he s here only in his little steamer, and have
immediate part in the measures about to be taken.
IL happens quite naturally that all men are ex-
hausting themselves in speculations 10 what the
terms Of Lord Elgin's demand upon Yeh will he.
Yon will probably become acquainted with this docu-
ment long before we shall, but | feel very little
interest about the matter. We all know what the
general character Of the paper must he just "a well
"a Lord Elgin can. IL must demand compensation
for all damage done IL must demand n revision
OF the broken treaties. IL must demand immediate
entrance into the city, and II must demand either
the surrender OF the city or OF the forts that COM
mand 1t, as material guarantee, until the compen.
sation is paid and the treaty settled.
Whatever this demand may be, il has necessarily
been communicated to- and concerted with, the
French plcnipotentiary. He also has this demand
20 make. The policy OF France Is altered since the
days when one OF the missionaries sneeringly de-
aur honneur du partition, surcte dies equipdges: mais
pas u coup he canon" Baron Gros has TO demand
satisfaction for the life Of French subject who was
most barbarousy murdered by persons in actual Off.
cal NEUTRALITY-SUSPICIOUS. which has been for two
years constantly denied TO continued series Of de.
mands unbacked by force. He will probably think
himself entitled TO demand some security against
recurrence Of such ostrages. SO that, in the end.
our acquisitions upon the Chinese government will
probably not be far from Identical That by force
or by capitulation we shall have pessession of Can
ton before this year is closed have moral doubt
II will be time then to speculate upon Interior pro-
ceedings.
Whenever we strive 10 obtain sufficient specific
facts whereby to map a line OF action, we are
brought up by the humiliating conviction that our
ignorance of China Is darkness that may be felt.
Even Of that great conglomerate OF cities on the
Yangtse we know little more than that II s the com
mercal emporium Of central China. and that its
population Is variousy estimated at from five eight
millions Of souls. We know that IL exists aud that
IL nearly all we know. No one has been there ex