The New York Herald Newspaper, October 3, 1857, Page 1

THE NEW YORK HERALD. WHOLE NO. 7702. ARRIVAL OF THE ARABIA. THREE DAYS LATER FROM EUPOPE. IMPORTANT NEWS FROM INDIA, Reported Risings in the Bombay Pre- sidency. CHOLERA IN THE BRITISH ARMY. SEVERE ENGAGEMENTS WITH THE REBELS, THE ATLANTIC TELEGRAPH. NEWS FROM CHINA. NEWS FROM AUSTRALIA. Arrival of Over $3,000,000 in Gold in England. ADVANCE IN COTTON. The Money Crisis in Europe and America, CONSOLS 90 1-4 a 90 3-8, &, &., ae, ‘The Ounard steamship Arabia, Captain Stone, which left Baverpoo! at ten o’clock om the morning of Saturday, 19th ef September, arrived at her dock at cight o’clook yeater- @ay morning. ‘The news is three days later than that brough! by the Jara from Cork, to St. John, N. B., and our Ecropean fle are seven days later. The Arabia arrived out at Liverpool ‘at 3 A. M on the 1th ult , and the City of Washington arrived at the same port at midnight on the 16th ult. ‘The North Star and the Jason arrived at Southampton om the 17th ull. ‘The money panic and financial crisis In New York ell- ‘(@led editoria! comment from the London Times, Vew:, ana Other Journals. A serious panic bad occurred in the Vienna money mar- ket, owing to some restrictions in bank sccommodations, and prices of all kinds of stocks largely declined. New fimancial measures of the Austrian goveramezt wero wpoken of. ‘There had been a panic on the Paris Bourse. ‘There had been three arrivals in Eogland with gold from ‘Anstralis, namety:— By wail steamer Norfolk... teeeeeereeeeseee ee + 98,400 000 ‘The Bank of Frgland had declared a dividead of 534 per Gent for the half year. In England the papers are filled exclarively with the details of tbo nows from India. As already reported, Delhi remained in the hands of the ingurgenis on the 29th of July. ‘More mutinies are reported, including one !n the Bor. Day Presidency. The latter included only » portion of ono regiment, and had been suppressed. After occupying Oawnpore, General Havelock gained Several other brilliant succesees over Nena Sabib’s foroes, Det although he bad almost reached Lucknow ho bad to veturn to Cawnpore on acocunt of sicknoss amongst bis men. ‘We -re informed tha! the Foglish government docs no’ fmtend, for tho prescnt, to form a forcign legion. ‘The Moniicur publisbes a discial mer of ihe report cirow tated fs Parie that a French legion in the pay cf England ‘wns shout te bé sent ont to India, but It Is so obscursly ‘worded that ihe people are lef; as much in ibe dark as over @m the eubjoct. Large subscriptions are being made in Paris for the sufferers by the (ndien mutiny. From China the cates are Hong Kong Jaly 25 and Shang- hae lbh of rame month. At the former place excharfo was quoted at 4s, 11344, and at the laiter 78.14, The @espaich coniains no other news, A private despatch reports silk again higher at Song Kong. ‘She last accounts received in Paris from China, by way of Kiachta, present « deplorable picture of the state of the gapttal and of the southern provinces of the ompiro. Trade wasalmost completciy aanthilated, and the distross zmong the populction increasing in an alarming manner. The geverument bad tssucd iron money to pay the padlic se"- ‘vants end for the purchase of corn, bul it requires tho faxes to bo paid is silver, Late despatches faom Ma‘rid say that (bo Narvaez Oab!” Ret bed tendered their resignation, but ihe Qacen refused ‘bo nosept It. A despatch from Madrid to the London Jott ays that General Concha will coalinue to hold the governorship of Dube. Paris lotter to the same journal says that the question Detwoen Spa'r and Mexico was going on most favorabiy, #0 fer ott can be arranged in Peris, The acoeptance by Merioe of (be meciiation was not, however, keown. Our European advices are confined mainly to vague spe. @alations upon the result of the approaching imperial con ference at Stuigardt, between the Czar and the Emperor Napolenn ‘The Henperor of Austria wat expected shorily to return the visit of the King of Prossia. ‘The Evengelica! Ail'ance commenced its sittings at Tor Bn on the %th of September. Mr. Wright, the American Ambasador, addrersed the meeting n an eloquent rpeech. Bishop Simpson spoke bricfly in the name of the Motho- iste of America, and Rey. Dr. Paird read an addres from the 'roteriant Obristians of America to the Confo- Tones, which, he stated, bad recetyed the signatures of the most distinguished Protestant Christians in tho | alted Mates, and had also been adopted by several religion: Dodies, such as the Synod of the Associate Reformed (Gharok, the General Assemb|y of the Now school I'reaby- terian Church, and also bad received the signatures of maay prominet! members of the (lc Schoo! Presbyterian Gharod, the Atsociate Churoh, the Reformed Dutoh Church, he Southern Church, the Baptist, Methodist, Eptecopal, Moravian ard other churches. Abie addreares wero do- Rivered by Dr. Jacobi and the celebrated Dr. Merle Aubigne, of Geneva, so well known by his history of tho Reformation in the sixteenth certury, The Convention, amounting to about 0¢0 members, paid a visit to Potdam, ‘where they were hoepitably reosive:| and entertained by he King and royal family, His Majosty made a brief but ‘appropriate speech upon the occasion. Thers wore present at the Conference betwoen thirty and forty clergy- men from the United States, ‘The Constifutionnel, on of the sem! official organs of tho Freach government, publishes, in its isene of September 16, another philip;i¢ againet the institutions of ths United Mates, and principally against slavery which, according io the writer, is an anii-sooiai institution, condemned to die. ‘appear from the world, and partioularly from the United Mates, where ite existonse contrasts to odiousip with the Male of 8 country whose citizens Claim for themselye: Mberty without control or rorirsint. ‘The attempt to Iay tho submarine telegraph from Sar @inta to the coast of Africa had proved ® fallare—the oa ble having broken in forty fathoms of water, whea the expedition was within two mites of the rhore and the oom- pletion of the task. It was expected that the lost end would be recovered and the Iine finished In # week or two. From Sardinia wo boar that ® flood had occurred in the ‘Valle @Oasta, entailing « loss of about ify lives ands ber of houses, ‘M Von der Heydt, the Prussian Minister of Commerce, (had resigned, and it wae rumored that the Minisior of ‘Wimance had likewise tendered his resignation. In Denmark the session of the Holstein Diet was closed em the 10 ultimo, with a speech by the Royal Commis. emer, in which regret was expreseed that the advances ‘mado by the government had been ineffective. Al Rome the statue in honor of the immacuiate Conoep- om was inaugurated with much pomp by the Popo, on fhe Mth Beptember. ‘The London Post says that there ie no prospect of a re- gamption of diplomatic relations between Napict and the Western Powers, the Neapoltian government having failed to comply with any of the demands made upon It, News from Moldavia represents that so far as the pew elections bad prooceded, they were favorable to the union Of the Turkish Principatities, aMhough the last three days Of the election were far from being as favorableas the commencement. ‘The great Doncaster St. Leger race, in England, was won by Imperieuse; the two favorites, Blink Bonny and Ignora- mus, coming in fourth and fifth. ‘The United States sloop-ef-war Plymouth, commander Dabigren, arrived at Southampton from the Texel on the ‘16th ult , and was expected to remain in port about a fort- night, and then return to the United Stales. In Ireland the town of Belfast had, om account of the re- cent religious riots, been ‘proclaimed under the most Stringent provisions of the crime and outrage law.” A large constabulary force had been ordered there, and the inhabitants bad been called upon to deliver up the arms ‘and ammuuition in their possession. The Marquis of Lansdowne had declined a dukedom ‘which was tendered him. ‘The American yacht Charter Oak, which recently arrtved at Liverpool from New York, hid been disposed of by lottery, There were two hundred members, at one pound each. Queen Victoria had created Admisal Keppel a Knight, and Commodore Elijott a Companion of the Bath, for their exploits at Canton. Our Berlin Correspondence, Banu, Sept. 18, 1857, Meding of the Evangelical Alliance at Berlin-Speech of Governor Wright, United Stats Minister—address read by the Rev. Dr. Baird from the Protestant Ohristians of the United States Reception of the Members of the Con- Serence at Potisdam by the King, dic., de. I purpose to give the readers of the Naw York Husa, in this communication and the following cne, some notices of a mostextraordinary meeting now holding in this good city of Berlin, certainly one of the mort remarkeble rei! gious meetings of this age. It is the fourth of the assem. Dlies of the sort which have been held within eleven years. ‘The first was held in London in 1846, It was at- tended by a largo number of Protes‘ant clergymen from ‘all parts of the Briiieh Isles and s considerable number from foreign lands, including some fifty or sixty from the United Siates. The second was beld tn London in 1851, avd was also very largely attended, there being some 200 and repesenia ives more from the Continent, the (Uni ed States and other countries. The third was held at Paria in 1858, and was also very well atiended; but probably not more than two hundred persons were present from forcign lands, And now the fourth is holding in Borlin, the centro of tho Goihic or Teutonic race of the Old World—ihat race which has so wonderfally aflected the character of Western Karope, bas laid broad and deop the founds ions of tis domipion in America, is planting \tself and its inst! tutions im Anstraila, and bide fair to overran a very large portion of the gobe. Anda} this meeting there are at leett two hundred acd fifty gentlemen from Great Britain and Ireland, between thirty and forty from the United States, and some from France, Maly, witzorland, Belgium, Holland, Depmerk, Norway, Sweden, Ruvsia, the Ausirian empire, as weil as many from Germany. mmber canact be less than one thousand tn all. i ¥ of m.uikters of the gorpel and religious iaymen—_ sh boldwg cesenially whai w called the evangelical sys. tem of dooirin But it may be asked, what ts the ob; of this large meeting of Provestant miutsters and laymen? I will tell Jou—itie,in @ word, to endesvor to resuscitate what ie true Protesiantism——in other words, true religion, espe- cially ip (he varicus countries of Eurcpe, where ne larly in Germsny and we cirovmjacent countries) there paced ® great deal of indifierentiam, rationaliam and el So mech was his the King of Prussia pleased ‘with what he bad beard of the meeting in Parie two years y be could rearcely be dissnaded from the idea of baving « similar meeting in Berlin last year. Ho was told (nat it would be too soon after the last one; that it ro- quired time 'o pi for such a mecting; thal |t would Coat a considerable sum of » nd ihat fs would be a long journey to those who shonid come from foreign lands. The 1g gAYe Way, but insisted that the meeting mast be held thts yerr; and you know that the wishes of a king muat be com; ‘wh; at least this is very much the opinion of pretty much all the rid, the Swiss and the Americans. Well, the meeting commenced Wednerday, when from five till there came together quite a large number of those who fook an interest tn such matters. Several bundrods at- fended that meeting, which was Scripures, singing and prayer. Tho s man, French and Foglieh. The Rey. Mr. of Ger- may, the Rev Mr Fisch of Paria, . Mr. Nos! of London, conducted them to the ea. satisfaction of every one.’ They tcok place in what is called the “ Gar rison Cnurch,” which ts a sortof royal church, which bis Majesty the King bas placed at the disposal of the Con- On Thureday, at ten o’oicck, the regular business of the Cor ference was entered upon in a formal manner, under the general sopervision cf the Rey. Dr. Kuntzel, one of the Evangelical pasiors cf Berlin. After the reading and ox- ‘ton of a portion of we Holy Seri, tures, sho Rey. Dr. Krommecher, the author of several excelent booke of a religious character, all of them well known in oor coua- by, delivered an admirable address ia behalf of the Evan- pecical Alliarce ans tte op jects, in which be answered many of the objections which have been brooght against this preat movement from various quarters, It mest abie ditcourse, and will be pub- ry, Mf not all, the other addresses wbick the occasion will Dring forh. At the clee of to ihe foreign- Jona, to all who had come up to the meoting ricana werd the first vo be callet for, Three of their nomber responded for hem, The Hon, mr, Wright, the powly arrived ambassador at the court of Borlin, spoke in the y ambassador. fils short address, not © ing ve great mniia’action; for it wae an extraordinary enr an ambassador speak tn this way—for Wright eal Cbristian Hoosier, A distinguisned Frenebman, is himecif a fine speaker, told me that he was delighted with the rateral, r spd earnest manner io which Wright spore ou the ion. Bishop Simpson, of ‘be Mothoaist Kpisoopa! cburen, followed with a short and very proper speecd, which was well recetyed. The Rev. Dr. Baird next addrossed the meoting, aud Iaid before 1\ the following “« Address from 4merican Obristians to the Pvargetical Altiance Conference, to de held at Berlin in sep ember, 1867,’ which I am permitted to send you:— We, the ordersigned, ministers of the goupel and Iaymen of various evangelical Proverient churches in the United staise of Americn, saving Beard, With great entle(action that « cou feroece, composes of & ‘on Obriatiays of wer- ine? countries, 17 to he beld In Berlin, ia the course the ranction and in compiiagee with the Wines of bin Majeriy tho King of Prussia: aad being deeply convinced Wat (rus believers througbout Christendom houl?, ‘aa ia them lea, cultivate brotherly relations with co de helperaof each otber in faith and good elves of this occasion (0 express our Jequn, Jesus Christ ‘We, ibe undert tgred, a8 do the cenlesiastion! bo ‘las to wht sh belong, hol, entire pro. eal alll vis Tine Divise insviration, suibactiy, a2 suilstoney of the Joly Seripturer. 2. The right aod daty of private judgment in the interpreta- Won of tbe Listy kein tures S The nnity of the Godhead, and the trinity of persona he ulter Cepravily of buman natare, in consequence of incarvatirn of the fon of God, Hie work of atone. sinners of maok.nd, and file mediatorial intereession @ juatifica ‘ion of the sinner by faitt alone. rork of ihe Holy Sprit is conversion and manctif. (be siener. immortaitty of the soul, tbe resn rrection of the . ent of the world by our Lord Jeane Christ, with ‘ersednens of the righteous, aad the eternal punish- of the wicl hed x: The Divine {- ~~. seo and the obligsuon of \be anere ap . Be et aa Veneta of ete 3 may be among Or ecclestaeiical nature, and we rejolse to there is @ wing appreciation of ‘and other portions growin) of tbe Continent. We are eure that their maintenance itp catets. t eiistes area tribute prenuy tot ft that eaves, to the onl terion church, ae well as signed by of the O14 Hehoot churoh, the Reformed Dateh church, the Baptivt, Methodist, Episcopal, Mora: testant charchet. Some instances were gi of the charaster of the standing of thor the ‘ Addreea,”’ &o , referred to. He ald that ft had re- ceived the signatores of tho Bishops of Virginia, Ken | tocky, Obie, Matwe and Massachusetts, (of the Episoupal in theological robots as Dre. fe fa Prat low, Campbel! \dge, Hi SS ae 1, Breokiaridge, Harn- jeans, and wanvpg awre Seaith, Hitohooos.” Park, are banking com: ae ‘nct bring them maob credit in thie Spring, Tysg, Boardman, hich hitherto have won American confl- > Blagdem, Sows, 10 beg! Of the mosth there was a o'asbh all parw of the coun- | of them, and as ope Abe list ope seems io be re sdi denominailons. He | # page of some commercial romance, but net a matter-cf- ie¢, 100, that it had been rubscribed by many Jad; fact report. What would Eogiabmen, simvle as they are, one of the Judges of the Sapreme Court have expected from ibe ‘New York [Onlo) Lie and 'd States,) commoners, members of Congress and | TinstCompany?”’ What or even honesty, was distinguished lawyers, as well | likely to be 'cund in pr. ‘jeotore cacabie of euch » jamble of words? Yet this company hed thriven at Ciecinvad, ul) recetved with evident | in an evi) hour it winged i flight to Yew York, and be- eatiafection by the a:dience. It was followed by addresses | came s machine for be ripple from Eoghah and cther foreign representatives. sgriculiurist into the ooflers of the Wall street money- In the afierncon +wo very abie discourses were read by | lender. ‘hen the Mechanics’ Banking Association gave = eb, SENS, the celebrated Dr. Merle oa way to the storm, followed by a dozen private houses. A Several of the Legal bg hoiding meetings to look their difficulties face. Meanwhile, a make pleasant remarks on tho ‘weakness’ of such @ “concern” or the it of such 8 ‘al tains on the railway which unites that city to Berliw, at the terminus. At3o’clock P. M. about nine hundred gentlemen and a Considerable number of ladies were assombiod at the bave been duly stigmatized, it is added that the Itst is very station, which is jast outside of what is called the ‘ Potts- | far from com No doubt we have hac as hada state dam gate,” and afer a plessant journey of an hour, the: { ofthings inthis country, The peouliarity of the New York found themselves at Pottidam, and in half ao hour more | pavio is that it is industriously and Speubany or up, ag- they were al! busily engaged ls the ‘‘ New Palaco,” ta | gravated and ;, that this is done with the difference and discounts; and when a few more ‘tho most formidable results upon eve: y class of debtors; and tbat to this market, thus in the bands of the money lender, and liable to these fearfal flac tuations, most of the American raliway companies have to ‘come for the means of completing their works, paying the interest on their bonds, and ibe dividends, if any, on ‘taking of the fruits and olher refreshments «hiob his sjeaty bad prezared for them. vepast being ended, Ahey were arravged according to nations 1a froat of the ooo ard soon the King and Queen appeared—the formor attended by an A‘jutant or two, and the later by three ladies of bocer—all cresned very mush as any ij = pelea ay be dressed for making » morn- | their shares. call, poe Afver having reoetved the nemheis of the Committec of | The Interest of — in the American ments, the King began wiin tho upper end of the line, where the Americane were prov, ith} thirty- [From the London Tim ity Article) Sopt. 17.] fye in number. Mr Wright, the embassedor, made him Further advices from Ne ‘ork may be expected to- . 7 bitef and aeewaoiaton, and then rosented | Morrow by the b Star. Their interest to the Brith to bis Majesty veversl of tho more ¢ nguiahod public will be simply a matter of about £10,000,000 ster- thople: Dr King, of Aincae; Bishop Siapeck D - | prikended trom fume Indian iavurreotog.-The two lant bet ig gil og pe bi nm Mn rpg yp tmcag mails have brocght news of an everage fall of thirty por “tock, Dr. Paitom, and then presented all the others in . Baird presented the same gentlemon , who yohed that end of the lime jast as the King was passing on to the English, who stood next, After baying received om sddress from ono of their num- der, and allowed a considerable rumber to be presented cent in tbe most ent American securities, and ae svming the total amount held om this side to be about £80,060,0C0 ster ing, waich is probably much beow the true amount, our nominal loss already, in the course of (en days, reached £24,000,000, ® sum which ati! inade- quately represents the rea! mischief, since, when the ‘> bim, bis Majesty moved slong the rest of the line, who . the French, Swiss, Talla, Belg }, Dateh, Dan auedee, present panic commenced, the market was alroady saller- Norwegians, Hongarians and Germans were standing. ear or two of almost uninterrupted depression. Tho Jast named were last tn tho order ie of things further violent fluctua ioas must Ii took an hour, or nearly 90, to go through all this; and it really was a spectacle well worth seeing. Their Majes- PIB es . and arecovery of ten or fifteen per cent, or fait xteat, mey therofore be according to the to robadle. es were recetved wiih a hearty “God biess the King,” reproveni- “God blees the Queen,” and as they wore retiring, Wiha | Shon of the organized party who were ney gocd old fashioned English buzza. The Germans addod | ‘0 bring about » hopeless convulsion, the 00 currences at tbe last dato were merely a commencement fhe railway interest had bosa Crushed, but the Danks, on the waoio, sill toot their grcund 80 long as this was tho care tue break up would be far from complete, and the energira of ihe geitlamen who seem to be s!lowed to control ihe New York xxovango, and to rejcice in that inter pretetion of liberty which allows every man to attack bis neighbor's properiy, bad conse: quenuly to be exercised in a vew direcuon. ‘fhe results oapnot be long in doudt. Nothing is casier han to ruin a Dink, and In Kinglend, in consequence of this factiity, euch aciom pts are Claesed with ihe worst offences. At this mo went two persons are lytog in Newgate for cadeayoring indtrecily in @ partiouiar Caso 40 exoile public disrust, and although one of them was @ man of respeciabitity, who Anted upon # fancy tat he had been personaily iujured, Boone bas been found to utter # compiaint of tho sevo- rity of the aenterce. In New York, om this point, there fe perfect freedom Hexee no institation !@ spared, and, indeed, the leading conce ns are sbe first to be attack ed, since if these cam be broken the minor ones are sure follow. Thus last dato the New York Life some of thetr noble old songs, which they sung as nobody but Gormans know sing on euch occasions. It was nine o’ciock aMhight when we got back to Berlin after this delightful excarsicn, ane full of povelty espe- clally to those who bed never scen a king or queen, or Daving teen them, it may be, had not had an opporsunity to speak with them. In my next And here I most break off this narrative. letter I will give you an acconht of the ecbsequent pro ceedings of this very Interesting asverably of Protemants, amocg whom .here are many very em‘neut men. THE MONEY CRISIS, Whe Failure Sew Xork. [From the Lendon Chronicle (ity Articie) Sept 16) Anoiher of those fearfui interruptions to the confidence of tne American pubiic and their insitotions has taken Place, resulitng in s fearful fall in the value of the public eecurition of eume 20 to 60 and in somo instancos even 50 percent, An undue inflation of epecalation and a system | apd Trust Co: of forced perity, wilh its accompanying venality, is | frst establish: recorded in the accounts to hand. Bank and insu- | been openly rance companies, and some private failcres, are mention- | adie scouréiee, while the Bank of Vommerce, also ed, causing @ crash in the yalne of shares to known corporstion, was coupled with it as anotaer woak mentioned. It is factory, concern. The Baok of New York was also included. At that (he meroantile interest the beginning of the prevent year the siock of all these un- baving necessarily to pay mi dortekings was regarded wiih the highest favor. Sizoo the current charge for even that date the commercial! poti.ion of the country has been 12 to 16 per cent upto 20 and wonderfully strengthened by continued {mmigration, an sbondant barvest, and a total absence of all courage for specniaiion Can it be that they were then altogether un- sound, notwiths\anding the general conddence sed in them, or that they have gone madly to ruin im the few subsequent months? ech supposition seems alike imorecible, yet egaingt these banks and ® number of othere the speculstors bave ap resolved American Railway Expanston and the Crisis in New York. (From the Lendon Times, Sep\. 15 } ‘The map of the United States tn avy English atlas twenty or even len years old is about as muoh ont of dae es tho a ge which occupied half we middie of Europe to thetr b. Their fate wih "which described « somowhat jogs aron as Ln ge the ‘Of Moscovie, aud gave to a few broken out- wh were is at New York any amonnt of commercial Beischel were ot Sa? . our map reapeciah.e classes, or whether it Beta or te aclawie, pete ine hed Todas | ft ha eure oe protium are now as thickly fretted wiih railways av Laoashire or the suburbs of London. and defend prominently cn the roene are those who really command te Cnencial des.inies of the coun ry. 1a that caseany oe The wonder is first how tho rail- vestments in America will do so with who may make | oe es ee bis eye open, and must be sopposed to have, Incline oe as would prompt a person to ie up res). ets 908 te ie Rae ene dence in a town lianie to be sacked by the dret band that ute may get up & lot or a conflagration. The hope, however, is that aifairs have not yot See pe Os power of those whose skill im acquiring fortune consists only jo thelr ability to create en impression that ter cowntry men are incapable of carrying on « single honest enterprise may prove t> bave « limit, aad thas those nst!- tations, whether backs or railways, which may paw ‘trough or recover from the present crisis will ge'n in- ereesed stability, and pric It in proporiion to the peril wo whiob they bave been ex; ceed. bem, to Nottingham, or to York this is a thickly peopled country, people who can wavel for 0, In bad \imes as we! to hear that !t bas been done so choaply and rudely that no Eogiiebman in this rountry would truat his limbs to its light rails avd timber bridges. Yot, con- iderieg the something enormous, and the fact that the popolaticn of the States, afer all, ts not so great as that of the Britih isles, and not nearly 6 4 most sanguine believer p improvement and progress most bave bis misgivings as to the paying qualities of ihese long ‘hin lines. But Bow wore they mace’ It wee Stale bonds canal shares that Sidney Sm!h invested with each » Jo of notortety. The States borrowo’ and then repadl- ated. This was bet an bron Rand of American pro gress, and the British pub! ry tince fattered iteolf that it te awake to the dengers of stm; How ts it dor tbo, In thore days? donee from Ny York throws some light on this diMeulty, That gay and lively city ad¢s now to ie other © of the Bank of England, [Frobtbe Lonsea Post (Oity Article) sept 18 } ee of the governors and proprie- quarterly meetin 10 Ban yer tf Rnglee: ending Mat Avguat Inet were £ of rest £3,540 646 Ie, 84. hail y at end preiite be payable om aad after t der next of £6 10s. cpat, without dedect ef income tax; and the court now ordered the dividend to bo made np ly. Mr. Pilcher wished to know how It exciiemonts & panic, which our correspondent likens to va. ividend was #9 mach below thst of tho rioua gregarious terrors and mishaps, tuch as bisons rash- ie banks, which were paying from 16 to i precipice, anisheep runing throvgh = hedgo 1m? The Governor stated the diffe. £0p. Bat itis erideut tbat a panicin New York has ite | rence of profite more nominal than real. It arose Sheemiag features; for there are people thore who thrive | from the fact, that the baoke referred to were banks of on a panic, and can even get one o Is te evident, too, | mech smaller capttal, and iherefore the amount of profit that a panfc ls well comps: ed to a ruth, for it basa direc: a oy ‘a larger interest; whereat the Bank of logiand rection, and that direciloa ts ae gainful to alle 0 £14 060,000 of capital over which thoy Rad to divide profits of £3,000,00. Over and above ihelr cost they hed a rosidve of profits amount! to £340,000, out of which £800,000 wae to be divided amongst the propricters. They wore necessarily compelled to keep & larger reserve than other banks, and that in some measure expisined the difference of dividends The ropert having been adopted, the chairmen ex laine! inet as tbe dividend was larger than ‘ha! declared on the Inst oooaston, it woald Dave to be confirmed by ballot, whieh would take place on Toeeday next. A vote of thanks to the chairmaa clored ft represents a run of money, leav ‘8 void at one quarter of the compens, and giving to mae rather more (ban ite due, A panio'is not merely a spe len of commercial patbology; i it anact of intention, Strepgth and ekil!, with acthors, motives, victims and ali the rert tbat constitetes ection. Let us seo. then, how a nic at New York operates opow American raliways and oir numerous a ceeneeitare, let we suppose ‘ompita ‘—gonerally @ tran who hes earned bis ye bie cape rience still more slowly—alive to a f the porils tnet | the procecings. environ American speculation. Let bim be fairly upto a pampered pretended ‘tate guarantee, or an informal State antee | The roubles the Three Great Money With a fiaw In ft to the danger of rival lines, and of lines made imply to aewist In the making of lines, which will pa gL Tt managemen|, of ama) hich may or ms: Markets of the World [rom the London News, sept. 16) announcement of a bank ao7 ralirosd panic in the States is pecularly aawelcome atthe presert mo- ment when #0 depressing an ief-onco |s exercised mpon ccmmercial and monetary aMaire to this country by the Altempted revoletion in India, and when still greater Jorn rely ne In F ance. It is ® mort anueual ¢iroametance the three greatest money markets of the world to be thos simultanecsly stricken. Jn Fr, owener, the tia merely (he utel of candion in 4 remults from nancial cahaustoom Ss upon a previously inflated vpeculacion. In America the #twation many fra tures analagous to thai in France, but with this diference— at the rottenmess is nearer the surface of things. '@ bave long bron familiar with the desperate cf tbe Amort- tan epecniator to get rich. That begat extra; agance scems to be «law of nature, for what ie Nghily earned la I'ebiy spent. The result is witnessed that rech lesely oy x style < aes which forme a ag a feature pociety, in Parle and Now We in London aro quite sober by comparison. root of all this we muyt look mainly Mm Mes afforded (o speculation by the modera mania for joint tice enterprise, énpesially in the direction of railways. bas passed through ber phase of been so bitter that there ie not exceeding leita for fact, mers mention the construction 0’ new = t within Ke capitalists button up ‘beral guarantes from «& ‘arly exceptional !nduoe- and it se evident that humanity and Moors, tas sommes together, 60, ‘wore allowed to sway the decision. Bei for tne of the earth, but the and bet for some tender elementa in the ph losophy home, after ine expe- of Wall street, what would have become of vorus. The cost of this Erie sbarcbolders, when the second and of the £300,000,000 Feds 5 would have to go without their expended as hat been ? Tho result was, the “second and sum this proportion re- ™ y’ got thetr ber coupom. Hat have yet to for their rat). abont the shareholder? one Of our readers who rico will oly, im mang bappen to have embarked their all in (his company will ‘Of jate yeare France has been be interested to hear that {t has been at ie wits’ ends of rerious francial embarassment @ bundyed thousand pounds, and that it had to borrow ly in earth works. In America te perpeve 0 0 dey when ‘the beet oommoreial pa. system has led to period! could not be done helow twelve to ifeen percent, and | cally recurring panies, all |i in ity, howe rer, to far the business was at two per cont month.” | the one. Al refane to they have But there 0 their rallwaye too quickly, yet how often do we i with thore ¢ rope, Tew ae mm ¢ moperior and carpriee of ee hhow ovate. when the . allowance for the comparatively low vtated above, morican railways, this very comparison is United ‘af apprehersion thet « young comm States, whose monied oapacity is ae of 4 or France, has sown the t difoulsy through undue Baste in ral) cone rabli land, have ay PE the cance, te men pronounced specu! rR under whose cent pte has grown will going down, fhe trath i American ratiwaye have | floating debt, caring for renewal porodioally, whatever been burning at both erds beth on their income an: my Se the state of the money market. Ata period of thetr ontg |. The crope Bave not been auite #0 g004; | panic like the present there is, jnently, @ Oompleie 7 | scramble for money on the part of such rail*ay com to borrow monay against a hort of needy comps | pentee ae may happen (6 vant fonds to meet llerilites tore. There is a crowd of specuintors io sugar, la cotton | falling due, What can be imagined more discro: ‘lable to the whole American needs porification, and one the torthcomts g Couragement to the pi z = : i F other side of the Atlantic. of American rembting immense masses of @eeriors olsc runt, ip the Eoglish market. reform mast be an im atop towards fioancial the oomposiiion of the railway boards. have oorfidence in the men, confidence in the The cbief queation peor panio extenc? cor fidence will lead mae trade? which Uniess the cannot Is i likely that the shock to much disturbaace of legit! opinion can at present be ventured upon, we think the answer mut be in the The worst feature of the time is the run fo far as an negativ upon the banks; and, upforiuna’ely, no very b! is entertained of the market is easy, they are ever ready to lend r ‘upon ali hinds of railwey and other securities; and when ire ariser, ® wholesale contraction ny the banka fre- preciptiates a crisis. ac thie jonotars wih banks of thes coula will prob brief. ‘will be mainly oo1 tablishmenta, Shi wil be greatly aileviated. Stock-jobbing tn eee of the Credit (From the Lo Tho Credii Mobilier is xubsiding into an ordinary com- mercial compacy. The shares, although still bearing a It will certainly which have too large @ portion ir means locked up in advances on railway securi- Hes, for tre fall in these has been terrific, and no progroms be made with sales under be bankivg bistcry of Bcot/and eho: sequence of such a departure from ihe rules by which all banking institutions ought to be governed. the higa o ase banks weathor the storm, as they will, the period of trial to the commercial community Ny Moro failures ari be Icoked for, both in New York and in other cities of the Unk b; bat there ts strong ground to belicv to specalators ard speculative id this turn out to be the cae, the ap. prehension of embarrassments on this aide, aud of a jergibened ipterruption to the course of legitimate trade, that obilter. ndon Times, Sept. 15 | premium, have fallen fifty per cent 'n the market. orly prosper by tho rept tation « f prosperity. ‘There 1s litile cause for regret in the probable fatlare of apreject whieh ostentatiourly vio.ated all the rules of xcoptional gains of the C Mobiifer for atime appeared to sanction the exuavi pretensions of 1:8 founders; but al! commercial decwi woula have been ccnfused if @ bank bad permacently thriven which was precinded by tte consutotion = economical prudence. ergagirg In the legitimate business of banking. susploes urder menced furnished addi ionel The conception of tho scheme war d St. Simonians of five and twenty years and the off. cial favor which factiiuted its tnirodu might arise from considerations altogetber irrempective o: The Sccialist admirers of the enter oped that it wold ultimately defest the competition of individual capilelists; nor was vt a secret that in the event of complete success the new company was destined to become an Foglishmen have litle collapse of foreign bubbles, but to this country speculations are only atiractive when they profess to be exclusively commercial cf the sharotolders. prise h important right to trlemph over which the iment of the State. speculation was com. ground for suspicion. polliical premises would be ‘atal \o pro: Freach wrivers on political economy have never suc- ceeded in impressing their doctrines on the po; mind, 1 clearness and controversial vigor by *bich #0 thom are eminently char. |, may, perhaps, some degree be ailtributed to taet: as \be representatives of & protesting minority. fa different Sccieliss eects are unsnimously hosile to bas been more widel; some mysieriovs a Lovis Blank retied on this resource shen regencrm@ion of labor at the Luxembourg, Provisional g¢vernment had, with admi abollebed the profesrorabip of ‘potttioal mercial pariance, credits no more than tho trasferabio ‘value ¢f some material 5 ef that phrases might be supstitated for moucy. vate hoaris yp Hes, but nearly y ance necessities cttrede. ier appounced as their A beneficial result was every application of the been brovght into use by the rs of the Creait sirendy provided for ordinary commerce. of the tmstitation confine companies, Hance the Assoviation has come to the assistance of iho gov ¢rnment, Is profits consist in selling at a premium what has been = or to public funds. beve been made in docks, liar works, apd at least in ome remarkable to deoret, and by deg: ie not enriched when money t to ABOther, jor is, in ruth, neither moro nor lone slorkjobbing or produced whea were tempted to enter isto prodiable oir Operaiions to economy. In this sense the | und- tne England to aces ercwd of Londen and Northwes ern Rail eee the doors of Wesars Glyn's baokin, ‘impatience to learn if that frm would cond: say the interest on ihe company’s dehentures. The fnan- cis} biote of English railway = oe strictures of the 5 significance oompared w: ihose without comment, on the Sect it, ho whole syste 1g house, on the jeacend to for sale, nly at arket” at tho Best aibly have Pow iy interes: to the Enelish capiile community ts, how far mer- will the effaote of the inion the caution of American peg When hard at sent circumetances e the imeviiadic oop- ld red, indoubted!; to Ibis not imyossible thet the capital originally subcribed may stilt be fortbeoming, but the confidence which enabled the essociation to realize enormous profits is irretrievably gone. A tradiry firm wiboots definite sphere of ope: ations can edit interests Philanthropic or spread in France than « belief that idutes belong to the netion of credit. le consistency, In com applying speculative en im railways, and PLY OF newociated facilities which were The statates jolmt aioe = Ite Saar ag in ‘The capital and reputation of the Orédi: Mo- Bet rerricted their beneficial | first bought ab par, and Jum increased in value by the noo rhety of the original purchase. Dupes found to beliove that an enterprise was great company have boasted (hat they creaied wealto hen they succeeded in riggiog the market. it would have been Inconsisent with the original,purpose of the Institution to mako @ permenent investment la any an dertay ing, however beneficial. commercia! or It tm, in fact, the proper Dasiness of banks re to Cea) exclogwely in move} Creait Mobilier is a bank, engaged, however, ia discouat- ing expectations instead of existing values. All genoine pay ita in the Aret or secend ¢ogree some actual amount cf goods; bilie of exchange correspond to deck werrante or bile of inding, which agate are tho and te Wile ceeds of cargoes anc contignmente Through the me niracien. te eatme nt er joys apeeniative purchasers. superior nee end the etimuice of persumal intorert. When the loss fer the Kassien war was negoiavd the ot [documents of this kind credit discharges many fai fonctions, and professes to per Crecit Mobilter as long 0 ecurity of poribie vat ite tangible geine are Cerived from we creduiity It will prowably be foond inet = Dusiners so proemim n'y bazarcove reqcires taéivideal the éirectors tn jubsejrent ropor\ actually claimet the a probation of their abarebolers on the grownc that they bas offered the government terms @bied involved a patri- owe raorifice. Its unnecessary to inquire whether the er; quired. The ontowsrd incidents ts the career o' ferther consideration Ubat Tho following alto ran Mr JM iting Cept, Christie's Nougat, anda, Culeayy and Nov, to 1 egainst Oly mps between ihe third and fe "e Special License, 3 yre, 7 # Ginuting, 4 yra, 7 a W. 1. Anson's Ovloavy, 1 Mr. I. Tom Broee k's Baby ion, to J agalont Aogary ite 6 12 Ib, (0. # Gat. 71d. (Bray) to Leach Babylon wae ann ‘s Orianda, by the Crmack, 3 yrs, 6 at. 2 1b, French Mr. J, Osborne's Augory, 9 pyre. 7 et. 41. CAationer Mr. Darber’s Mim Harkaway, 4 pre, Tet. 8 Mr, T. O's Olympen, 4 yre., 7 wt, 12 Ib. agaimt Ort os { against Babylon, and 10 ‘on easily by @ lengi, three lengths between the recon? sod third, ard a dew! beat Dr, ; 1 3 ine. 61D. ex. (Dales) | (Aliorot) 7 ih, (Plumb) ‘Chariton ) (Withington ) Ip. (Fordham), jughes). the investigation, but the objection was subsequently withirawz. THE ISDLAN MUTINY. Outbreak in the Bombey Preskdency—Chelera Among Gen. Havelockh’s froops—The Fight- ing Before Delki—The Number Slaughtered at Cownpore—Lord Eigin in Calcutta—Die- arming of the Governor General’s Body Guard, dic. The Indian mail from Bombay bad arrived in Londen, ‘With nows dated at Ca'cutta on the 27th of July, and at Bombay on the 15th of August. The steamship Bentinck arrived af Suez on the 9h of Beptember, The dates are:—Calcutta, August 10; Madras , 11th; Point de Galle, 21st and Aden, Septem ber 8. We have the follow ing telegraphio summary of the sew; from Trieste:— Lord Eigin arrived at Oalcut'a on the 8th of August, 20 companied by about 600 marines and soldiers. General Havelock, after having advanced to within one day’s march of Lucknow, had been obliged to fall back on Cawmpore, on account of the cholera having broken ow among his small force. ‘There is a doubtful report, via Ceylon, that the ravages of the cholera among the troops before Delhi had compelled them to retire to Agra. Acvording io the latest autheno nows from Oeihi not only were the Europeans siill before the piace, but they bad been strongly reinforced and » genoral assacit was expected in a few s. A plot bad been discovered end thwarted to marsacro the Euro @ at Benares and Jeseore. Taere had been severe actions with the rebels at Agra and Azimgbur. In Calcutta the Governor General’s body guard had been disarmed. General Lioyd had been removed from his command ai Tene and Sir James Outram had lef Caicutta to taro le pl ime troops at Zegowlee bad mutinied, and killed thelr cfoers. Retarns cf the regults of the masracre of Earopeans at (Cuwr pore show that the victims numbered #5 offlosre, 190 privates, 160 women and chilcren belonging to tue army, ond about 400 ciytiiang. The vcmen wore siripped naked, bebead-¢ and thrown into a wel), and their ohildrea were bur led down alive upon the mar gied bodies. Our correspon? cpt in London, writing on 18th September, mays:—The sickenieg accounts from Ca enpore will exctto ‘& leeling of horror and ndigration in overy buman Dreast, ‘A shout of disappsinted vengeance baa sohoed through Engiaud that Neus Sabib wes col onagbtalive. Poor diss Wheeler shot six of the villainy with ber father’s pistols before she fell. And whena gentle, high'y edocates girl, accustomed to every luxury, will In the hour of dao; act #0 nobly, what chance is there for the eaccess of rebelilen? Ae da the general features of the rews, you will of your own ccnolusione. The fact of a Moham- conspiracy im the Bombay Presidericy amd the actuad mutiny of « regiment in Bombay, abow veyond a doubt tbat = rebellion was not tuteeded to be confined to one Preat- loncy. The most cheerful news is ths annoancemont of the errival of troops from Europe; and wheu once they begin to arrive there will be a continual stream pouring !2, and then the rebels will be driven from corner to oorver. The 17th Lancers, who enfforet #0 crea fully inthe memoradie charge at Balekiaya, have volunteered toe man for Indls. When the colonel, on parade, ackod if thero were any to volunteer, tho whole regiment swpped formerd. A correspondent of the London on the 16th uliimo, saye —On the pais {t !s rumored bere that sir Colin Campbell tad i on bis arrival ss Celontta. I only fn te report Paris paper Little disposed to view oar ailairs iu india in @ favorable light Several new mutinies bad occurred at Dinaporo, bat i¢ is amid thst the rebels were dispersed by the Ear: poans, who shot do Oot them Une of the disarmed reji- in the Pupjab bad also mutinie¢, but fed upon being altar Led. im the Bombay Presidency a mutiny occurred on the ‘Slat becky | in @ regiment ttaiioned at Kolapore. A por- tion enly of the troops were engaged tn tt, and as a pom- ber of these were te!.en, It was considered thas be mating bad been suppressed. Fears were entertained of ordbreaks at other stations in the Bomboy! Presidency, Lh: reinforcomerts wore Wrown lato the suspected i |. overawe the din- atlected. A Mobsmnotan cors.irecy bad hkewlse been dircovered in the Fombay Prestdenoy. Mt xeitement exirted at Ronares, towards which city Pt Calonite, Gon. Feld, owing to iii Bea! bat relinquwhed the oom- mend before Dethi, and it was bo'd by Gea Wibon. ita # rong reinforcomen # was expe ted middie of A Oa his way be HBeahkote madneers apd totally do Lower Bengal, may bo considered unfavorable or wire, according as eno locks on the one hand to the dan- or, to the eptrit with which it bas been Davo two regiments, the one of of lrreguiar Cavalry, beea dis- body guard bave been tbovgu allowed to etal OF course, tis step may bavo been takea ca (he moat general grounds of oan- tion, without a single new cirenmstance of suspicion, and timply becavre the @evernor General felt himeeif strong evongh to take it At tho inst Pe dae oly aboot half ® dozen regiments Native iofaauy were still true fo us and Gused with arms, and when the Jour native reyiments at Dinapore, afer doing gout” rervice, had mutunud at the eleventh hour, 1 was Lo locger rematped, ar regiments had inatiied, «ppar ly agains thelr Dotter [oclinge, and vainly Wun email bop and |t wast) be preeumes that ino son- (oo sirong to be resisted, Berhampore ia class military simtivan of Bongal, in am popnious country, about five miles from Moorahedabad, the Mahom modan capital of the province. As !t waa in tne line of the rive jeaton wih the Upper Pro- cos, it wan by no volikely Mzty third Native Elev Irreguisrs, stationed bere, Fighth aad yh in egt in order by esa thop wero wee, could keep 4 and tho of i Joorsnedabed ernor Geneaal's body regular cavalry in the Bengal army ‘til! trusted wih wma, Tous at home it was almort incredible thet when Bo eabibition of confidence, no professions, 0 een good service, no contideration whatever hed prevened defec- tom, and even atrocities, the Governor General trasted bimbelf and his oconcil every ay to the loyalty of a ne live corps. Wo believe Wat for the Inet two montha there wae rot an Exgliehman in Calcutta who would bave been rurprived ai the , irat place, politic to show covtience. ‘Then, this fa- corpa wan comroed of disingoished veterans, well paid, well mounted, and sltogetner se bhendsoms « cody of sclsier coald be teen anywhere. They Dad also good peuslore wloee, If it was wise, !\ wavalso king to taxe from such mes ihe power of effect ro mutiny; enerel bad ) recelved @ presentment from the Gracd Jory of 5 and @ memorial from the harepeso reeiients, ergiag the disey mament cf 1De naitve p priatom Defore the approach - medan feattys!, and in reply to thie bo bad un- end that bee been done, The Uovervor « soldiers do- prised eat Re mnare ey Goard Tenth rect aevice at Diaapore it bare fulered bat seems to o rreat die. RO great Puropeans, be- telged thrre by the matineers, , Probably, by the Fopa ation, weuld be deplorable enowgh. Bay war is an alair of atte capnet be conducted wilh roeces ik of very great lomes for very ema)! resulte, and rewuite mest not oe measured by the toale Of personal feeling or a chivalrous sentiment. I would boty of a tempdng a night for the cision; but there certainly ‘ea wokeiene alweys teem ‘worth « large sacrifice, with a view to the war, ard one which only appeals bo ‘this Instance one car net !magine what 300 do without cavsiry in the midst of probably a portion of the by an insurgent population A throw some light on the mystery. iver, and (0 the Pane! ap th the Sepet oP ail bave at ben convenirated, we find that Gen. Havelock has. the a by an fpecratable pescd the saversl revalt of that axhanstion which are to be e” day lees cp the Gasgee as fast moans of conveyance could be found. The do lay st Cawnpere is aff the ieee importast as a” “expected success s reported from Agra, where a persiog thera