CHINA. (From the North China and Japan Market

Otago Daily Times, Issue 174, 6 June 1862, Page 5

CHINA. (From the North China and Japan Market

Jisport, February 21.)

The English Mail of the 26th December, due at this port on the 18th February, arrived per Ly-ec-moon on the 20th, being 'four days overdue. Much anxiety was felt in this comiriunityifor.,the : news that would come, ,on the all-important +opic of the day—Peace or War between England and America—which lias not subsided from the uncertainty which still exists. - ~l,ts,.effect upon our commercial and shipping interests has been very injurious. Several vessels engaged in.the American trade have been changed in their names, and we presume a transfer to neutral ships' papers hps been effected.

Shanghai.—As We anticipated, no sooner did the returning warmth of spring meet the heavy fall of snow, which acted as a barrier against the progress of the Taiping rebels, than these scourges of humanity made us aware of their proximity by hovering on the outskirts, of Shanghai, and, as usual, 'committing depredations upon the industrious villagers. These simple people are so frightened of the Tailings that they will fly in the face of death, to be free from their clutches. On approach of these marauders they pack up their few Valuables and rush towards' the foreign' Settlement for protection, leaving their houses and farms to the mercy of the invaders—in whom, such a feeling does not exist ; for they wantonly destroy by fire and sword everything that comes in their way. This merciless devastation upon the surrounding f>vrms and villages in the neighborhood of Shanghai, is not merely ruinous to the unfortunate inhabitants, but it is beginning to tell on the cost of provisions in the Settlement, and fears are entertained that the crops of produce will be seriously affected if the rebels are not driven away, so as to allow the agriculturists to pursue their work in peace during seedtime. Indeed these miscreants have boasted, that they will starve out the city and Settlement of Shanghai before they will be baulked in their capture of the former, as they accomplished that of Ningpo ! 1 This state of affairs is now becoming go serious, together with the continual harrassment of impending danger, that the British and French forces are devising measures to drive away these disturbers of' our legitimate trade. In all probability before long the Allied powers will test the neutrality clauses of the treaties with jhotand shelrt Should they do effectual work in this manner, there is not a member of this community but ■would' applaud them—excepting probably some parties who call themselves merchants, and who transact a considerable trade in arms and ammunition with these said rebels. We have got our finger upon the names of these renegade traders, and we warn them that when a case turns up at H. M. Consulate we • will not spare them. At present our information, is "under seal," and we are forbidden to divulge; but ere long we may dilate upon imported " umbrellas of the Enfield pattern" and religious tracts of a combustible nature. We appeal, therefore, to our readers-whether it is honorable, or even honest in the way of trade for constituents of Shanghai firms in Europe to consign such wares to this port, where by doing so they add to political complications and encourage a contraband trade.

Independent of these considerations, this encouragement of the Taiping rebel cause assists in paralyzing our local commerce. Where a large trade was done in British merchandise hitherto, orders are now very much contracted. The Chinese middle men who used to work off a large quantity of goods are afraid to enter upon up-couutry transactions, because the markets for disposal of foreign merchandise are in a measure deserted bythe industrious inhabitants who pay honestly for what they buy ; while the Taipings rarely if ever give an equivalent for what they purchase unless it be to foreigners for arnw, ammunition, and opium. It was generally- supposed that the insurgents abstained from using the latter drug in any form whatever. But this is contradicted by every one who has come into contact with them, for it is one of the first things they ask for when they meet foreigners, and they are prepared to pay an unusually large price for it out of the money and jewels they steal from the people. It would appear that they greedily use opium to excite themselves, in committing the atrocities they do.

Nanking.—We have news from this stronghold of the Taiping, rebels, up to the 17th instant, at which date IT.M.S. lienard came down to Shanghai with a European prisoner on board, captured among the insurrectionists. The Imperialists made an attack on the suburbs with their war junks, when they seized some boats, but had to retire before the rebels, who went out against them in great force. A famine exists amongst the wretched inhabitants, which has spread amongst the rebels themselves, so that they, are actually slaying people and devouring their flesh. Tho following account of this horrible state of affairs is furnished by a reliable correspondent:— '

" Such is the destitution that human flesh is readily devoured, and there is no compunction whatever upon capturing a way-farer in tying him up to a tree and slice by slice devouring him. We have this from reliable.information anJ are certain of its truth, as those who have witnessed the enaction of these scenes detail them to us. Can we then have sympathy with those who give rise to such destitution as this, from the spoliation caused by them ? " Hankow.—-Now that the Chinese New Year holidays are over, the native traders have resumed their labors, and a brisk business is expected to be done this Spring. The tea season may be considered almost finished, as there are only two more chops to come in before the sales take place. Everything is tranquil in and around this port, and the people are daily getting on better terms with the foreign residents. Our last advices from thence are dated February ll.<

Gold in Walks. —The-question of whether the gold deposits of Wales can be remuneratively worked has now been satisfactorily and practically settled. Not only has a Welsh gold company paid continuous dividends for a period of twelve months, but the weekly yield of gold shows a gradual and steady increase. As we stated in the journal of Jan--25, the amount of dividends already distributed to the shareholders has reached £6,825; after payment cf which there still remained in hand a handsome balance to the company's credit. The Vigia and Cloga Mine, at which these marvellous results have been obtained, is but one of a series of highly valuable sects in the same district; and that the prospects^ of the surrounding properties are quite as encouraging as those of the Yigra and Cloga itself is admitted by all who are enabled to form an opinion on the subject. The produce of gold at this mine for the three weeks. ending Bth February was 990z., 108 oz., and lOb'oz. (five days' working) respectively, making together 3130z., a result which is likely to give eclat to the companies which will be brought prominently before the public in the course of a few days. During the week the North Cloga and the ■Wellington Mines have been formally registered, and the Bast Cloga and other mines are likewise about to be worked by companies with adequate capital. These enterprises possess all the elements of success, and if properly managed, cannot fsil to be extremely advantapeons to all concerned. — London Mining Journal. The Apostle■'■Paxil.- A committee of railroad men waited on his Apeness to solicit the rebuilding of the Baltimore and Ohio railroad, torn up by Jackson. Lincoln said, " I know nothing about it^ You must go to the Apostle Paul." " The Aposrle Paul!" exclaimed the astonished railroadites; " Who is he V " General M'Clellan," replied Lincoln, "he is my Apostle Paul :. I swear by him." They repaired to the Apostle Paul, who told him he was anxious to accommodate them, but there was a gentleman of the name of Beauregard who objected to it, and that he (the Apostle Paul M'Clellan} "had no men to spare." -?Ck*rlt»t»n Mercury. ;