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9 > yy *^ r » < Br ^^^ www . IS A f f . A POLITICAL AND LITERARY REVIEW . '
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? IT 1 HE cloud which is gradually coming over the JL country and its trade by the converging of the storm from East and West , casts a lowering shadow upon our political prospects , and materially alters the view that we must take of the war in India . It seems as ifwenmst come to a sterner period than , we have yet had to encounter . At ^ present all goes smoothly ^ enpugh . The arrangement made hf the constituted authorities for India is treated as if it were only a matter of money ; but suppose the money were to fail I It will not do so altogether , hut certainly the financial prospects of this country are not at all promising . The American crisis has continued , and has compelled the Bank of England to raise its discount to the rate of 8 per cent . —a point almost unprecedented . The Bank is perfectly right , and . no exception is taken to its conduct . It will prevent the drain of gold that . would otherwise seriously cramp the trade of this country . The Bank of Prance has been compelled to follow , and has advanced to 7 J per cent . ; which , as we have explained in a separate paper , is perhaps more than equivalent to our own rate . The clamorous demand for money continues on the Continent . So far this is the " natural consequence of the numerous failures which have extended from , the United States to the commercial towns of Prance and England . But we have a worse stage to go through yet . The embarrassment has tended to put a stop to the purchase of goods in which the several countries trade . French exports to England have been much reduced ; American exports to England have been checked ; India has not exported . Our exports in Vetvirn to all those countries are cither arrested or diminished . But if exports arc stopped , manufactures and trade of all kind must be stagnant . The next consequence is great difficulty in raising taxes ; and thus the ample supplies of money for the war in the East are not . likely to be produced with such extraordinary facility as we have hitherto witnessed . At present , the money accruing even from voluntary contribution is singularly contrasted with the liigh rate demanded for money in the City . The Indian llelicf Fund must now have advanced sibovc 150 , 000 / . The Executive Government and the City Government have been contending for the administration of the fund—the Chanchixoh ov the Exchequer making an offer to place it under a
Royal Commission , the Lord Mayor declining and retaining the administration under the authority of the chief magistrate ia the City and the committees appointed by public meetings . The fund has already become so considerable that a separate office has been engaged , and it seems likely to be a permanent institution—an auxiliary exchequer for conducting one branch of the national expenditure . Should hard times cause this stream to be cut ofl ^ the burden must fall upon the compulsory taxation of the country . Public meetings continue to be held for the promotion of the fund , and some counties come out magnificently , others unexpectedly hold back . At all the meetings , however , there are resolutions moved and speeches are made ; and other public meetings , whether between Members of Parliament and their constituents , or the members of agricultural associations , turn a great part of their attention to India . At all such gatherings the opinions expressed constitute a demand for increased exertion , and therefore increased expenditure . The Government of the country is exhorted to assert its Christian principles by the defence of its own subjects , whether Eur opean or Indian , who adhere to that faith , though leaving the native religions free . This would be a much more energetic policy , and it would require in the first instance a greater exercise , or at least a greater display , of military strength . At some of ike public meetings the question has been debated , whether the administration of the country should remain under the East India Company or be handed over to the direct control of the Queen ' s Government ; and opinion in favour of that transfer is certainly gaining ground . If the Company wex * c abolished , compensation would be required- ; and again it Is a question of expense . The reinforcements continue to bo sent out from this country in driblets . Reinforcements arc converging upon India from the West Indies , the Cape of Good Hope , Ceylon , Mauritius , and other British dependencies . At these public meetings , and wherever men do congregate , it is always assumed that this country must retain the Indian Empire . Perhaps every hard-headed Englishman would he as ready as Queen Mary to weep for the loss of one of our dependencies . It is not to bo concealed , however , that in parting with their troops for the defenco of India our dependencies are rendered weaker than they lmvc heen . Although we are in alliance with the Continent , England lias not obtained favour with either of * the two . great parties' in that large portion of
the globe . The Legitimists do not like us for going with Louis Napoleon , whom they are compelled to admit amongst them , but whom they despise as a parvenu , dislike as a dictator , and fear as an enigma . Although under Government control in all parts , the continental press is certainly not favourable to England . The popular party in all European countries resents our want of : fidelity to Liberal principles ; and ' England , ' kaiown only through its officials , is not popular with the Government of Northern Italy , with the people of Southern Ital y > of 3 ? ranee , Germany , or Hungary . We have no hearty friends , because we have not been a hearty friend ; and if we are about to enter into a season of trouble , . without that command of cash which has made us so proud , without enough troops to cover all our territories , it is likely enough that some of our enemies will seize the occasion to pick a quarrel , and the war of defence would assume a new aspect . It will no longer be a mere matter of money . The military departments are at present able to undertake anything that the Cuancei / lou or theExchE ' qtjeu can pay for , —to buy regiments in the labour market , and to contract for every species of service ; but that power will be gone , and the people will have to take the matter of defensive war into its own hands . It 13 the people of this couutry that will have to supply the men and the means . No such feeling , however , prevails at headquarters ; for at Jassy we find Sir Henky Btjlwer , behaving as if England could dispose of the world —freely pledging England to maintain intact the right and dignities of the Ottoman Empire , even against its own subjects . Notwithstanding the deliberate declaration both of Moldavia and Wallachia , union is not to be . After the virtual protest lately made by the Porte , conveying the certainty of its refusal to accept the union of the Danubian Principalities as the solution of the question , Sir Henry Buxwer ' s speech at Jassy may be taken as pretty nearly conclusive : no foreign Prince will bo placed upon the throne of Moldq-Wallachia , for Moldo-Wallachia will not exist as an unitc ^/^^ NLj ^ Ny , /' vinco - * ^ : $ 5 '^ 5 ^ SyW During the late French elections , Coi |* $ $ j $ H ^^ JK *^ Miguon boat the Government candiduto Jffipp ^ 5 ^^ '" "A ^ by the insufferable majority of 7000 Votq * pEa ^^ yy ^ fe ^ l h ^ feels , sub-prefects , mayors , and coinmiaaafl ^^^ fe ^^^^^ tr \ police stared aghast—awful visions of the . ftflfflfeftO ^ L f rfa ^^ W supreme authorities rising up before thcmr ^ ^ Mfflp ^^^^ jd was to bo done P Nothing , but to take ' vengeaflMLvw ^ ^
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VOL , YIII . No . 396 ] SATURDAY , OCTOBER 24 ., 1857 . PaibB { 5 aS 5 ig ™ -: 35 gS ' '
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REVIEW OF THE WEEK— i-aoe The Indiin Revolt , ... 1010 Public Meetings , 1012 . State of Trade 1012 , Accidents and Sudden Deaths 1012 Xtoland ; 1013 America , 1013 ^ fee-Orient 1013 ; ¦ Continental Notes 1013 Our Civilization 1015 Gatherings from the Law and Police Courts 1016
Naval and Military 1017 Miscellaneous 1017 Postscript 10 iy I OPEN COUNCILLord Canning and the Indian Army 1019 PUBLIC AFFAIRSThe Money Crisis 1020 Statesmen for India 102 < 0 The Dispersion of the Art Treasures 1021
The Annexation of Oudc 1022 Parliament , the Public , and the Army 1023 The Winter Campaign in India ... 1023 Workmen ' s Associations 1023 LITER ATURESuuimary 1024 Memoir of the Accession of Nicholas I ...: 1024 De Quincey ' s Sketches 1025 Brazil and the Brazilians 1026
A Hindoo View of the Mutiny 1027 New Editions ..... 1027 New Novel 1027 THE ARTSTheatrical Notes 1027 The Gazette 1028 COMMERCIAL AFFAIRSCity Intelligence , Markets , &c ... 1028
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¦ ' ' "The one Idea 'which , H 1 . 3 t . 0 ry exhibits as everrnore developing itself into greater distinctness is the Idea of Humanity—the noble endeavour to throw do wa all the barriers erected between men by prejudice and one-3 ided views ; and , by setting aside the distinctions of Religion , Country , and Colour , to treat the whole Human race as one brotherhood , having one great object—the free development of our spiritual nature . "—Humboldt's Cosmos . ¦ ¦ ' ¦ I • ,
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Citation
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Leader (1850-1860), Oct. 24, 1857, page unpag., in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2215/page/1/
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