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726 THE LEADER. [Commercial
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LATEST INDIAN INTELLIGENCE. The last bri...
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China.—-Tho overland mail brings littlo ...
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COMMERCIAL.
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. —•»-. . PANIC AT BOMBAY. THE late acco...
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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More For The Establishment Of Hill Sanit...
The first condition for health is physical climate necessarily ; the next is the artificial climate of the barrack . At ' presentgreat improvements are being made in the barracks of India ; but the main thing Is to . get the soldier , his wife , and children , away from the unhealthy ^ regions of the . 'plains . In the hill stations the residence of women and children will be possible . The married soldier will there leave his family in safety , while the unmarried soldier , on short service , or about to retire , will look forward to marriage in the hill settlements , and there will be an additional inducement to good conduct and jfco a man making himself a useful member of society . Thus in every respect the hill settlement will contribute to afford the soldier healthy associations , and in so far the labours of the surgeon will be diminished .
The Friend of India , remarking on the necessity of completing the military railway system , says , " We may go by rail to Reiginahal , and so reach Darjeeting by the beginning of 1861 ; but cannot hope to reach Benares , in the same way , till 1862 , with the present careless indifference to forwarding supplies . " The electric telegraph to Simla is making rapid progress . It will communicate with Kussowlie and Kalka . Simla is busy enough , for Lord Clyde is there , and his office at full work . On a visit to Pinjore to see the Putteealla Rajah , he met with a fall from his horse , and at Kalka was seen all < iisfigured . Leave to Simla has been given to Major A , II . Cobbe , 87 th Foot .
A letter from Mussoorie denies that Captain EEutton has gone to Jeripanee for Government experiments on feeding silkworms on oak leaves , but says that silkworms will not , eat oak leaves , and that ¦ Captain Hutton is forming a mulberry plantation of his own on his estate at Jeripanee ^ __ Leave to ~ Njnee Tal has been given to Captain B . F . ^ . Cumberland , 70 th Foot , Lieut . G . W . Agnew , 10 th Foot , and to Lieut . G . L . Smith , Adjutant of Shahjehanpore police . Leave to Deyrah and the hills has been given to ' Lieut . Col . W . Butler , 60 th Foot .
It ia proposed to name the streets of the newlyconstructed city of Lucknow as Lawrence-street , Havelock-street , Outram-street , " Clyde-street , Neilstreet , Inglis-street , and Banks-street , after the heroes who have distinguished themselves in the city . The Honourable John Peter Grant is appointed Liu tenant-Governor of Bengal . The inhabitants of Madras and Bombay are clemandihg legislative councils for the provinces , with three English members in each , one East Indian , one Hindoo , and one Mohammedan . We presume in Bombay there would be a Parsee in the council . It is to be hoped that legislative councils and
municipalities will be extended , so as to obtain local self-government . It will have been observed that the English residents have uniformly demanded the co-operation of natives in councils , municipalities , supreme courts , and commissions of the peace Their object is to secure the real advancement and independence of India , not by establishing Englishmen as a caste , but by the acknowledgment of Englishmen in their born rights of citizenship , constituting them the political instructors of the natives , and gradually training and raising the latter to the exercise of the duties of self-government . Those of the civilians who still wish to
domineerover Englishmen and natives , endeavour to sow illwill , and represent that it is the wish of the English settlers to domineer over the natives . There is no English planter or merchant but is quite ready to serve on the commission of the peace with natives , but he does object to leave unchecked power in the hands of native officials . Following the ancient traditions , a military officer has ^ obtained two years' sick leave to the Australian , colonies , but perhaps his object is to become a settler on retiring from the service . The Surat and Broach railway is completed , but not opened .
. The Bengal Hurkaru gives the details of the last examination of native candidatesfor the B . A . degree of the University of Calcutta , which are truly preposterous . The question on " Paradise Lost" -would have puzzled our English student .
Leave to Murree has been given to Major G . G . C . Stapleton , 98 th Foot , and Captain H . Crawford of the same regiment . Puchmurree has at length come into use as a sanitarium . Leave has been given by the Lieutenant-Governor of the north-west provinces , for two months , to Lieutenant F . B . Foote , Commandant of the Hoshungabad District Police Battalion , in JSfagpbre , to visit Puchmurree and Chilkulda hills . Puchmurree , or Pachmarhi , is a hill in the Mahadee range , in the north part of Wagpore , near the province of Sangor andItferbudda . Towards the end of last year these mountains were pointed out as suitable for English occupation .
The Mahadee range is situated at the eastern extremity of the Sautpeora mountains , where they adjoin the Vindhya mountainn , and form a group about sixty or seventy miles in length . The chief hills are !• uchmurree , supposed to be 4 , 000 feet high ; Dowlagheree , perhaps 4 , 000 ; 'Dokgur , 4 , 000 feet ; Putta Sunkur , 4 , 000 feet ; Cheura Dee , 4 , 000 feet ; Ambarmaph , 2 , ^ 500 feet ; and Ohindwara , 2 , 100 feet . Chindwara sometimes gives name to the group . The town on it has always been considered healthy , and it has always received visitors . These hill ranges have been found a convenient resort for tho mutineers , and at the last advices 2 , 500 were concealed near Puchmurree , so that Lieutenant Foote may not find it a convenient abode . The Chilkulda hills are apart of the range not before noted . There is of the
now some prospect important ranges in Nagpore being turned to account . The Bombay Commandor-in-Chief was still at Mahabloshwur , at the last advices . Lieutenant F . W . Jones , l « th N . I ., has leave to that place . Leave for the Neilgherries has been given to Captain G . O . Goaoh , 13 th M . N . I . and Captain S , P . Scott , 22 nd M . N . I . Tliese periods are for two years each . Mr . R . E . Norfor , O . E ., has a short leave . At Kirkee the Rev , G . L . Allen is acting aa chaplain during tho absence of the archdeacon . The Rev . J . D . Gibson is chaplain at the village of Malcolmppeth , near Mahableshwur . Baringthe * absence £ f the' Rev . Mr , Allen from Sattara , the Rev . Mr . Gibson is to perform , service there two Sundays a month : the distance ia thirty miles . Mr . L . George has been married to Miss Anne E . Bailie .
726 The Leader. [Commercial
726 THE LEADER . [ Commercial
Latest Indian Intelligence. The Last Bri...
LATEST INDIAN INTELLIGENCE . The last brigade of the Central India Field Forcethat which hunted ' down Tantia Topee—has gone into cantonments . A paltry disturbance has broken out in a remote corner of Eastern Scinde . Troops have been sent to suppress it . Some of the European troops late in the service of the JSast India Company , chiefly artillery and cavalry , stationed at Meerut , have shown mutinous symptoms in consequence of their transfer to the Crown . The Government of India opened a 5 * per cent .
loan on the 1 st of May . It has also announced the issue of Treasury Bills , bearing interest at 2 £ pies per diem . The Bombay Times says : — " There is but one thing talked of in India to-day , and that is the state of our money-market . The panic in Bombay is at its height , while no surer evidence could be afforded of the healthful character of our trade in general than that the mercantile classes are able to escape the widest disaster . To say that discount is ruling at 24 per cent , in the bazaar is not to describe the state of matters correctly , for money , in any quantity , is obtainable upon no terms whatever . "
The whole European community are naturally incensed at the new taxation tariff * established by tho Government -, but as they are the loyal portion of the community , and not likely to rebel , it is , of course , the pleasarttest policy to lay tho burden of tho bill for the rebellion upon them . It certainly is a grievance that the sufferers from native treachery —for almost all Europeans have suffered in some way or other from the mutiny— 'should be the only class now called on to supply the deficit of tJio
s . The intelligence brought by the Overland Mail from Calcutta is only one day later than that received by the last mail from Bombay . A few engagements with the scattered rebels are reported , in which they got roughly handled by our troops . Nan a Sahib is holding tlie field against us in the eastern corner between Nepaul and Oude , and determined to do < so as long as ho can . Humous of discontent in Oudo deserve to bo noticed . Lord Canning ' s new loan of 5 , 000 , 000 / . does not seem aa if it would be raised easily ,
China.—-Tho Overland Mail Brings Littlo ...
China . — -Tho overland mail brings littlo news worthy of notice . The rebels still continue to infest the districts around . Qanton , and it is reported tlmt some advantages have been gained by the Imperial troopa sent against them . Trade suffers severely from tho presence of these bandits in the consuming distriota , and on the groat thoroughfares to tho interior ,
Commercial.
COMMERCIAL .
. —•»-. . Panic At Bombay. The Late Acco...
. —•» -. . PANIC AT BOMBAY . THE late accounts from Bombay , dated Mat 1 ° say , " There is now nothing talked of but the state of the money market . " The panic afc Bombay is at its height . At the same time the trading classes had not suffered froru the disaster though the rate of discount in tlie Bazaar was 24 per cent . Money , indeed , in any quantity , was not to be obtained on any terms . Tlie Mint was gorged with bullion , and the private banks had still on hand their last importations . " There are two alternatives , " says the Bomlay Times , " to one of which , were the Government wise , it would at once resort—viz ., either to declare the English sovereign legal tender , and relieve the Bank of England from the plethora of gold which afflicts it , or to declare the notes of the Indian banks such tender , and authorise their discounting the Mint certificates , by ah issue of paper to the extent required . Either measure would be a legitimate and natural remedy for the present state of matters . If the crisis last but a few days longer , the failures in the bazaar will be fearful , and -we owe this state of matters almost wholly to financial misgovernnrp . nt . y
>\ ithin a few weeks a memorial lias been presented to the Colonial Office , from New South Wales , praying that the sovereigns coined there might be made legal tender in India . There gold , coined and uncoined , is in excess ; in India coined gold is much wanted , and nothing prevents the surplus of the one p lace flowing into-the void in the other but the barrier which is built up by the Mint regulations of a government common to both
places . Not only have the Australians an abundance of gold , they have now ample means of coining it , and might drive with India n most profitable industry in supplying it with coined money . Let the Government , if it will , interfere to fix the weig ht and fineness of the coins , but that being done , let it stand aside , and allow the people of Australia to supply the wants of the people of India . .
On two occasions lately , April 9 th and April 16 th , we pointed out , on principle , the propriety of taking the course which now , in Bombay , the wants of the people imperatively suggest . The continued interposition of our Governineiit to prevent it , will be as bad as continuing the corn laws after it was known that the wheat which could be exchanged for our cloth was allowed to rot , because the law would not permit the exchange . On such material , or almost , we may say , arithmetical rocks , Government is continually wrecked . Over sentiments and opinions it may apparently tyrannise ad , libitum , but it cannot doniinate over facts . They demonstrate its errors and its misdeeds . As when bits
in this case or the case of the corn laws , y regulations it mars the prosperity of two nations , it tries to thwart the course of nature . This dictates a flow of gold from Austruliia to India ; and without directly forbidding this , the regulations of the Government make it impossible or unprofitable . It always fancies that it can make society better than nature has made it , imd the result is , whenever its interference can bo brought to the test of facts , that it gets discredited . If it do not soon cease to interfere with the ( low of the precious metals from ono country to uuother , whether tho interference bo direct or indirect , it will sutler as much in public estimation iron its coinage regulations as it sullbrcd from corn lawn .
THE VAJMJE OF dOLli . Tho state of the money market at Bombay , and the necessity for us to refer to our previous discussions on Australian gold and the want of it in India , reminds us that about tho same period April 23 , we wrote nn article on " What dete rmines tho value of gold , " in which wo snicl that tho value of gold , like the value of other com modi ties , » ' <• >" or coal , would be settled by the quantity of the labour and skill employed in producing thorn . >> o referred tho value , therefore , to tho genera law whioh determines tho value of all commo dities . Lately , however , a now edition of Mr . M'Cullooh rf Essays have been published , and in tho lumiy on Money are tho following remarks : - * - _ , .
" When gold pr silver is found In any pa « " « u" locality its abundanoo , and tho chances whion 16 affords to advorifurors of enriching thomselvcs , ftro uniformly oxaggoratod , and an oxoess ot lianue is
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Citation
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Leader (1850-1860), June 11, 1859, page 18, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_11061859/page/18/
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