ARRIVAL of the JANUARY MAIL.

Hawke's Bay Herald, Volume 5, Issue 269, 1 April 1862, Page 2

ARRIVAL of the JANUARY MAIL.

RELEASE OF THE COMMISSIONERS, AND SETTLEMENT OF TIJE AMERICAN DIFFICULTY. By the arrival of the " Storm Bird " on the evening of Friday last, we are in receipt of intelligence to the 27th January. The steamship Northam, with the January European Mails, arrived at Port Philip on the 13th March, and sailed at 2 p.m. the same day for Sydney. The Otago mails reached that province per " Omeo " on the 56th day. Nothing has been heard of the Bombay, which sailed from Gralle on the 2 1st February, with the English December Mails. It is supposed that she has broken down, and made for the Mauritius. She is described as having been in first-rate order when she left G-alle, having recently undergone a thorough overhaul. The American difficulty has been happily settled by the release of the two Commissioners who were, taken out of the British, steamer. There remains, however, much uneasiness as to the effect which the continued holding back of the Southern cotton will produce. If England does not raise or assist to raise the blockade, there are rumours of France doing it alone. While there is every disposition to look favorably ahead, there is this nightmare threatening to disturb the quiet of Europe. There is every desire to let the North and South fight it out by themselves ; but it is feared England may be dragged into a war against her wishes. Four millions of her population are in one way or another, dependent on -the speedy liberation of Southern cotton, and whether they are kept without it, or drift into a war to obtain it, alarming consequences must follow. No little excitement is kept up in England by the arrival at Southampton of the Confederate steamer Nashville, and the Federal corvette Tuscarora. They watch each other like a cat watching a mouse. Two British vessels keep their steam up to prevent a breach of the peace. A fleet of whalers laden with stones, has been sunk at Charleston, causing a remonstrance from Earl Russell to be addressed to the Federal Government, and producing a most determined feeling in France. There seems to be a greater probability of France taking up a decided position in reference to the American war, than there is of England doing so, and it is thought not unlikely that this altitude of France— -the {

"old ally," from whom no opposition, was expected — may hasten the coming to terms of the belligerent states. ; V, Upon the cessation of threatened Hostilities, the Bank of England reduced the rate of discount to 2£ per cent. , . : The British revenue returns have fallen off three millions for the year — owing, it is said, to the reduction of taxation — but the finance of the country is generally considered to be in a satisfactory condition. A gratifying advance is reported in Colonial securities. The Union Bank has declared a dividend of 14 per cent. As was to be expected, there is great distress in Lancashire, and some of the smaller towns around Manchester are so reduced that public subscriptions are being organised for the subsistence of the people. The wool market is firm, with an upward tendency. The news from America is to the 15th January. The Banks of all the Northern States have suspended cash payments, as has also the Federal Treasury. The war makes little or no progress. General McLellan has recovered from an attack of fever, under which he had been suffering, and there is an active movement now commencing towards the south. There is much sickness prevalent amongst those portions of the troops who have been sent to the coast. There is great activity in naval matters and the building of twenty iron plated gun boats has been sanctioned. We are yet, in consequence of the December mail being missing, without full particulars of the death of the Prince Consort. Since the funeral, which, at the express desire of the Prince, was not a state one, the Queen remains at Osborne in complete retirement. Subscriptions towards a National Monument to the illustrious deceased are going on throughout the kingdom, and amounted, on the de-; parture of the mail, to a large sum. The Prince of Wales is to continue the course of study and travel marked out for him by his late father, and will shortly travel through Palestine and the East. Parliament has been prorogued to the 6th February. A most lamentable colliery accident has occurred in Northumberland ; a 'part of the machinery used in pumping the water out of the Hartley Coal Pit gave way, and fell down the shaft, tearing down stages, props, and lining, and causing the sides to collapse. No less than 2 15 persons were thus buried, with the water springing at the rate of 1500 gallons per minute ! Only eight persons could work at the removal of the debris at the same time. The accident occurred on the 16th January ; on the 22nd when the pit was opened not one of the 215 were found alive. The Great Exhibition Building is progressing rapidly. The Obituary comprises Sir Charles Burrell ; Earl of Yarboro ; Rev. Sir H. Molesworth ; Sir Chapman Marshall ,• Admiral Sir E. D. King ; Mr. Blamire ; Colonel Colt, Mr. John Masterman, and Principal Cunningham. The latter expired on the 14th December — the same day as the Prince Consort. His loss was deeply felt by the Free Church of Scotland, of which he was one of the chief men, and by the religious world generally.