THE REPUBLIC
September 1857
NATIONAL NEWS
Ohio Life Collapse Ignites Economic Panic
On August 24, the New York branch of the Ohio Life Insurance and Trust Company failed. It was soon reported that the entire capital of the Trust's home office had been embezzled. This has led to a shattering of the public trust and massive runs on several banking institutions.
Almost immediately after the Ohio Life collapse, New York bankers have put severe restrictions on even the most routine transactions. In turn, many have interpreted these restrictions as a sign of impending financial collapse.
Individual holders of stock and of commercial paper have rushed to their brokers and eagerly made deals that "a week before they would have shunned as a ruinous sacrifice." As Harper's Weekly described the scene on the New York Stock Exchange, "…prominent stocks fell eight or ten per cent in a day, and fortunes were made and lost between ten o'clock in the morning and four of the afternoon."
Some economists are saying that these events are heralds of “the worst economic crisis that has ever arisen to face the country.”
Meanwhile, officials in the Buchanan administration are trying to downplay events saying that “the talk of a financial panic can be likened to talk of a malignant epidemic, which kills more by terror than by real disease.”
Republicans have criticized what they call the administration’s lackadaisical response to the crisis and have proposed tighter federal regulation of the banking industry. One party activist said, “Old ‘Ten Cent Jimmy’ and his ilk once again have shown how out of touch they are with the needs of the republic.”
WORLD NEWS
War In China: Chinese Fleet destroyed
Although somewhat overshadowed by affairs in India, Britain, along with France and with non-military cooperation from the governments of Russia and the United States, has been prosecuting another conflict in China. It has been learned that a joint Anglo-French force under command of Admiral Sir Michael Seymour devastated the Chinese fleet during an engagement in late June. Up to twenty Chinese war-junks were sunk at the mouth of the Canton river effectively neutralizing any sea threat posed by China to the western allies. Bombardments of coastal cities and forts in the area have been ongoing.
War In India: Brits Get Reinforcements at Delhi
British forces laying siege to Delhi from a ridge overlooking the city were reinforced on 14 August by a large body of troops from the Punjab, led by Brigadier John Nicholson.
With the arrival of this siege train, it could be only a matter of weeks before British forces try taking the city. Even with the reinforcements, the task of taking Delhi remains a difficult one.
Despite daily reports from British spies within the city of mass desertions of Pandies (rebel sepoys) and general unrest, the British force outside Delhi remains heavily outnumbered.
When one also takes into account the heavy fortifications of the walled city and the numerous gun placements along these walls, it becomes evident that any planned assault will result in high British casualties.
However, British forces cannot hold their current position on the ridge indefinitely - even with the addition of Nicholson's forces. Facing stifling heat, unsanitary conditions, disease and frequent assaults from the city; British forces either must attack Delhi soon or withdraw from the field.
My India Journal
By Republic Correspondent T. Sawyer
11 July -- We overtake Renaud and come upon the enemy near Fatehpur. The rebels occupy a strong position amidst walled enclosures and mango groves in front of the town. Our infantry marches forward with determination while Havelock sends his artillery splashing through a swamp to open up on the enemy flank.
The enemy starts the battle with confidence, but within ten minutes is showing signs of dismay, alarmed by the range and accuracy of our Enfields. Our artillerymen are also taking a toll. The rebels begin to retreat. Bond rides up to me, calling out, "Knock over that chap on the elephant!" as he points to a rebel leader riding off the field. I take careful aim, fire and miss. He's too distant. About the same time, one of our artillerymen sends a ball bowling across the field under the elephant's tail and the rider flies through the air.
As we move forward, the enemy's guns fall into our hands. In succession, the rebels are driven from garden enclosures, from a strong barricade on the road, from the town wall, into, and through, out of, and beyond the town.
Four hours later, the fighting is over and we fall down to sleep in the shade. I'm too exhausted to eat. I later discover that although several of our men collapsed and died of heat-stroke, not one was killed by the enemy.
After they execute their welcome orders to plunder Fatehpur as punishment for its inhabitants' rebellion, the Sikhs are sent by Havelock back to Neil at Allahabad with news of the victory.
Meanwhile, we move along the road toward Cawnpore, past abandoned tents and ammunition, blackened, empty villages and vultures tearing flesh from the sides of dead bullocks.
12 July -- We are checked at Aong. The rebels fight bravely there; and several of our soldiers fall. However, we ultimately win the day.
13 July -- We push on to the Panda Nudi, an unfordable river. The rebels there are prepared to blow up the stone bridge. Exhausted as we are by the long march, and the fight at Aong, Havelock's men come through -- capturing the bridge undamaged along with more enemy guns.
14 July -- The day is hotter than ever. We march for sixteen miles, several men collapsing by the roadside once the burning sun is up, the others grimly stamping on. Most push on, motivated by the thought of liberating the women and children who survived the massacre at Cawnpore and are being held there still.
16 July -- We approach Cawnpore and find Nana Sahib's men, five thousand strong, drawn up in a crescent outside the town, evidently expecting a frontal attack. Havelock decides, however, that he won't oblige them. He plans to attack them on the left flank. We march through mango groves and ploughed fields in the intense heat of the afternoon. The sun strikes down with fearful force. At every step a man reels out of the ranks and throws himself fainting by the side of the road. The calls for water are incessant all along the line.
We come under heavy fire, the crashes of the shot through the trees being accompanied in the distance by a sepoy band playing what sounds like "Auld Lang Syne." At the turning point, our infantry wheels into line and lays down while our cannons endeavor to silence the enemy fire.
Alas, our guns are too light; the rebels pieces too well sheltered. Havelock orders Bond and his Highlanders to charge. It is the first of several charges this day. Seemingly oblivious to all the lead flying about, Havelock rides about the field, giving orders and shouting encouragement: "Well done, 78th! Another charge like that wins the day!...Well done, gentlemen volunteers, I am proud to command you!...Come who'll take this village, the Highlanders or the 64th?...Rise up, advance!"
The enemy falls back. For a time the rebels rally under the urgent commands of their leaders, but a final, desperate charge, led by Havelock himself, breaks the rebels' line. The rebels and thousands of people from Cawnpore flee into the surrounding countryside. As we advance into the city we find no sign of Nana Sahib. Apparently, he has fled as well.
17 July -- We discover the greatest of atrocities. All women and children who survived the original massacre and were held hostage here have been brutally murdered. We find the house where they were kept. The walls and floors are stained with blood. The bodies were then thrown into a nearby well. Looking into the pit, I can vaguely discern the mangled remains in the gloom. It is a sight I wish I had never seen; one that can never be forgotten.
Hardened soldiers are sickened by the sight. Many cry openly. A major shakes his head, sobbing. He says over and over, "the poor, poor creatures."
I watch Highlanders kneel down next to the well and take a Highland oath that for every one of the innocents who was slain, 100 of the enemy shall die.
My friend Bond has a haunted look in his eyes. With steel in his voice, he says to me, "I swear by God in Heaven, Thomas, I shall have blood for blood. Not drop for drop, but barrels and barrels of the filth which flows in these monsters' veins for every drop of blood which marked the floors and walls of that fearful house."
TO BE CONTINUED
SCIENCE AND TECHNOLOGY
California Earthquake One of the Most Powerful on Record
Based on eye witness accounts, scientists are now saying that an Earthquake that shook Southern California earlier this year was one of the most powerful ever to strike the country.
The earthquake of January 9th 1857, which occurred near Fort Tejon, left an amazing surface rupture scar over 220 miles in length across the California landscape. Despite the immense scale of this quake, only two people were reported killed by the effects of the shock -- a woman at Reed's Ranch near Fort Tejon was killed by the collapse of an adobe house, and an elderly man fell dead in a plaza in the Los Angeles area. The effects of the quake were quite dramatic, even frightening. As a result of the shaking, the current of the Kern River was turned upstream, and water ran four feet deep over its banks. The waters of Tulare Lake were thrown upon its shores, stranding fish miles from the original lake bed. The waters of the Mokelumne River were thrown upon its banks, reportedly leaving the bed dry in places. The Los Angeles River was reportedly flung out of its bed, too. Cracks appeared in the ground near San Bernadino and in the San Gabriel Valley. Some of the artesian wells in Santa Clara Valley ceased to flow, and others increased in output. New springs were formed near Santa Barbara and San Fernando. Ridges nearly ten feet wide and over three feet high were formed in several places. In Ventura, the mission sustained considerable damage, and part of the church tower collapsed.
At Fort Tejon, where shaking was greatest, damage was severe. All around southern and central California, the strong shaking caused by the shock was reported to have lasted for at least one minute, possibly two or three!