THE Wellington Independent.

Wellington Independent, Volume XVI, Issue 1710, 25 March 1862, Page 3

THE Wellington Independent.

Tuesday, March 25, 1862. EUROPEAN NEWS TO 27xh JANUARY. The receipt of the Home News of the 27th Jan. on the 24th March via Otago, deserves recording. We cannot tell, at the moment, whether it has ever been received more quickly before— s6 days ; and as the mail steamer arrived at Melbourne on the 13th, we may fairly expect the Coleman steamer in to-day which is her due date. Our first attention, in times of threatened danger, is always directed to the state of the money market. That is a far truer index to the prospects ahead, than leading articles or correspondent's letters. When we saw that mouey was easy, that the Bank of England had reduced its rate of discount from 3 to 2£ per cent, we were prepared to learn that the storm of angry feeling, worked upou boths side of the Atlautic was gradually subsiding. There seems to be, nevertheless, much uneasiness as to the effect which the contined 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 Soul bora cotton, and whether they are kept without it, or drift into v war to obtain it, alarming consequences mast follow. No little excitement is kept up in England by the arrival at Southamp^u 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 stores, has been sunk at Charleston, causing a remonstrance from Earl Rus- ' sel to be addressed to the Federal Government, aud producing a most determined feeling in Frauce. 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 attitude of France — the " old ally," from whom no opposition was expected — may hasten thecoming to terms of the belligerent states. The British revenue returns have fallen off three millions for the year — owing it is said, to ibe reduction of taxation —

:' 'iut the finance of iho country is gene j ally considered to be in a satisfactoi t condition. A gratifying advance is r< I p >rted in Colonial Securities. Th t CJ.B.A. has declared a dividend of 1 ' per cent. As was to be expected, ther is great distress in Lanoashire, and som ' of the smaller towns around Mancheste are so reduced that public subscription are being organised for the subsistenci of the people. The wool market is firm with an upward tendency. The news from America is to the lotl January. The Banks of all the Northen States have suspended cash payments, a! has also the Federal Treasury. The wai makes little or no progress, Genera McLellan has recovered from his attacli of fever, and there is an active rnovemeni nowcommencing 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 sanctioDed. The Government have granted permission for the British troops en route to Canada, to go through Maine, which at that season of the year is said to be a great boon. This act of courtesy contrasts with the fire eating of some of the Represen- ! tatives,- Take the following as a specimen. — In Congress, during the discussion on the bill for making an appropriation to send American goods to the English Exhibition, Mr. Lovejoy made the following remarks : — " I oppose this bill, as it is enough' for us to have been humbugged, dishonoured, and disgraced by England." Mr. Kellog asked if it was the action of the British or the Federal Government that caused the disgrace ? Mr. Lovejoy said, in reply, he understood how it was that disgrace was all that America could bear, and continued: "We marched up to (?) sweeting drops of blood, and yet we are asked to say we did it cheerfully, and that we approI priate money for commissioners to appear at I England's Exhibition. Having submitted to disgrace, the least we cau do is to acknowledge it, and stay at home until we can whip England. I hate the surrender, I have the British Government. I here avow and record that hate and declare it inextinguishable. I cherish hate whilst living, and bequeath it to my sons, whom I charge, if there is war with England, to enter the war. I trust the rebellion will soon be suppressed, — we can. then avenge the insult we have received from England. We will then stir up Ireland ; we will appeal to the English Chartists and to the French inhabitants of Canada. We will join hands with France and Russia to take England's proud Eastern possessions, and we will take away the Crown from the English Government before we have ceased. I trust in God that time will come. I believe we should have been stronger for a war with England, we should have felt the necessity of making short work of the rebels." The House showed its good sense by tabling the bill, notwithstanding. On the continent there is political quiet, and a tendency to less harsh measures in Poland and Hungary. Lisbon forms the only exception, where Prince John has died of typhus. His two brothers, the late King of Portugal and Prince Ferdi. nand, having recently died of the same disease, and a third nearly so, there arose a suspicion of foul play. To quell the riols the bodies of the King, and Priuce John were exhumed aud chemically aualysed. No trace of poison was of course found. Earthquakes have been felt in Greece, several towns being damaged. Turning to purely Home news, we learti that the Queen remains at Osbome in complete retirement. The subscription towards a National Monument tc the Prince Consort amounts to upwards oi £15,000. The Prince of Wales id to continue the course of study and travel marked out for him by his late father, aud will shortly travel through Palestine and the East. Parliament is to meet on the 6th February. A most lamentable colliery accident has occurred in Northumberland; a part of the maohinery used in pumpiug the water out of the Hartley Coal Pit gave way, and fell down the shaft, tearing down stages, props, and liuiug, and causing the sides to collapse. No less than 215 persons were thus buried, with the watei springing at the rate of 1500 gallons per minute ! Only eight persons could wori at the removal of the debris at the same time. The accident occurred on the 16tb 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 Triton aud Joachim Christian are loading for Wellington, The Oliver Cromwell sailed for this port in December, and the Blanche on 7ih Jan. The Obituary comprises. Sir Charles Burrell, Earl ol Yarboro, Rev. Sir H. Molesworth, Sii Chapman Marshall, Admiral Sir E. D. King, Mr. Blamire, Colonel Colt, and Mr. John Mastermau.