The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-26

The sugar market was less active but prices were sus
tanned with sales of about 400 hhds Cuba muscoyados
Coffee quiet, but continued to be firmly held with
sales Of 800 bags of Rio and lots of Maracabo at
steady prices. Freight engagements firm but light;
Liverpool by the clipper ship Dreadnought was
taken at I'D.
The News from Europe--Accident to
the Great Eastern--Important from
China.
The arrival of the City of Baltimore off Cape
Race, and North American at Father Point, has
placed us in possession Of advices from Europe
to the 18th instant, which is five days later than
our previous accounts. The news is interest
ing and important in three points of view
lst. The renewal of the war between England
and France with China.
I'd. Accounts of terrific explosion on board
the monster steamer Great Eastern.
Sd. The condition of things in Italy.
The intelligence in regard to China indicates
a powerful hostility against England and
France. In an attempt of the allied squadron
to ascend the Peiho river they were suddenly
attacked from masked batteries on shore, and
after desperate conflict, with o loss of FIVE
gunboats and nearly five hundred English and
French put hors de combat, the fleets were COM
PEELED to withdraw, leaving the Chinese mas
tiers of the river. The object of the English
and French in ascending the river was
to proceed to Pekin to enforce the treaties made
last year. The hostility of the Chinese seems
to be entirely against the allies, for, according
to the London Times, the American Minister
had been admitted in Pekin. 1t will probably
be asserted in England that Russian intrigue is
at the bottom of this affair, and that the admis-
sion Of the American Minister was due to the
influence of Russian agents in the Chinese
capital.
The result of this renewal OF the war on the
part Of the Chinese, and their refusal to ratify
the new treaties, will lead to the most impor-
tant results in that quarter of the globe. The
Paris Monite,u has already announced that
France and England will Immediately send out
an expedition to China sufficiently powerful to
| accomplish whatever objects the two nations
| may now have atheart, in view of the favorable
| opportunity opened to them by the recent occur
rences in the Peiho. 1t is more than likely that
Lord Elgin and Baron Gros will be Immediately
| despatched to Shanghae with fresh and more
comprehensive instructions, and we may safely
anticipate the entire opening of the Chinese
empire to the commerce of the world. The
conduct Of the Chinese in firing upon the allied
vessels of war will cause SO much indignation
throughout England and France that nothing
less than the humiliation of the empire will
satisfy them.
Thus, the few hours fighting in the Peiho in
June last will lead to the accomplishment of
one of the most important events, in COM
mercial and political point of view, of the nine
teenth century.
The accident to the Great Eastern will pro-
duce temporary sensation of a more general
and exciting character than the intelligence
from China. While all England was in state
of the greatest JOY at the success of the monster
which came near being frightful in its results
and which caused the death of six men and
seriously injured six others. The explosion
however, tested the immense strength Of the
ship. Not passenger was injured their es-
cape was miracle The accident explains the
ucrpdtSh OlouBHt w VIC Slby Va D1itiAOIC, dHu
published in the HERALD of yesterday, that
'Scott Russell engages. to have the Great
Eastern ready for sea in three weeks" which
postpones her departure to the 9Th of October.
Our previous accounts, it will be recollected,
announced her sailing day on her first voyage on
the 29th inst. The disaster was an unfortunate
one but in the eminent success of the ship in all
other respects it will be regretted and over
looked, and cause greater care in preparing her
for her first voyage across the Atlantic.
( These events in China and on board the
Great Eastern will absorb public attention al
most to the exclusion Of any interest in the pro-
| gress of affairs in Italy. The article in the
1fonitcur, received by the last steamer, although
| its effect was depressing in Paris and London,
seemed to find an echo in Vienna. 1t was the
| opinion there that the sentiments of Napoleon
would lead to a settlement of the complicated
questions in Italy. In the face of the determi-
nation of Tuscany, Parma, Modena and The Ro-
magma to be annexed to Sardinia, the Austrian
Cabinet announce internal reforms in that CAPT
tai and endorse the article in the Moniteur.
J Appearances were more in favor Of ageneral