OCR Interpretation


The New York herald. [volume] (New York [N.Y.]) 1840-1920, July 29, 1862, Image 2

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030313/1862-07-29/ed-1/seq-2/

What is OCR?


Thumbnail for 2

'/
INTERESTING FROM EUROPE.
ARRIVAL OF THE ETNA AND SAXONIA,
The British Press on the Future
of the Union.
4 ~
WHY THE ENGLISH HATE M'CIELLAN.
THE IDEi l.!D DREAD OF WTEBTE.1T10*.
ONSLAUGHT OX THE 0BLE1VS PBIXUES.
The New Alliance Between Franco and
Russia,
&0?# Ac.i Aa
The screw steamer Etna, Captain Morehouse, from
Liverpool at noen on the 16 Lh and from Que.netown ou
the 17th of July, arrived at this port yesterday mora tag'.
The news by the Ktna has been anticipated by her own
report from off Cape Race, published in the Hskxld last
Saturday, and the advices by the Edtnburg. g "?a yester
day morning.
The Steainehip Saxon,a. which left Southampton on the
16th of July, reached thla port yesterday afternoon also
Her news has also been antioipaled.
Two new French dukea are spoken of?narady, SIM
Walewski and Persigny. Thiee would probably have
boon made the same lay, but it was undorstoed that M
de Moray preferred being named alone?the others to
come after.
? letter from Par is of the leth of July says
I reg.-et to have tc-'say that the accounts of the harvast>
which has already begun in th. uocth of France, are not
satisfactory. The hopes of a superabundant and even a
precocious harvest ha?e vanished, and it will befortu
uate it wo have a viey ordinary yield. The accounts
from foreign countries n not st?m to be much better,
and though, according to present appearances, there is
little reason to apprtheud a scarcity, still any serious re
duct i in in prices is but taintjv expected. The accounts
Trom Nat.los show-that prices have been kept up there.
From Knulan t orders come in for American wheat; but,
as the disposable piautiiy is not large, little business
was done.
In the Italian Parliament, in Turin, on the 11th of July,
3euor M maari read Lord Russstfs woMs respecting as
surances being demanded of Hal rjthai so* should- keep
the peace" with her neighborc-ot* Octaany, including
Austria. General Duroado stated most distinctly that
''the King's government, throngho-at thesis important and
delicate negotiations, had been .care-M highly to uphold
the interests and the dignity of the Italian nation."
The Lords of the Knglish Admii alit J have not made up
their mmds ae to the n&iure of thv armor vrtlh which the
aides of the Agincourt, Minotaur,. Northuaa'herland and
Prince Albert are to be protected. It was originally in
tended that the plates to be placed on theso ships should
be five and a half mchee thick, on at teak backing of nine
inches , hut experiments have indecet 1 their Tordships to
pauAe, and they have requested the d ifferent contractors
to s?ud in estimates of the cest for ret verting a the case
of the above named sbipe, to Che old W arrlor v>nn of four
and a half inches of iron and eighteen inches of teak, if>
ou due conaidoratun, it ahouldtbe dee id cd upon'abandon
ing their tirst intention.
The most recent despatches from Wars;* (July
10) announce that tha woum! of the Grand Duke
Constantino ia closed, but that tl is pain in tha shoulder
tx?ne oontinuee. Resjxcting thi > condition of General
Ludera, the telegrams ?ay that . he still endures much
pain in the broken jawbone, ant 1-uffers much from the
want of eleep.
Le Journal de Verona of July 1 4 advises Austria to
acknowledge the kingdom of Itai y, on condition that
Victor Emanuel will renounce any ? 'aim upon Venire.
General Forey, whose departure for Mexico is now
(July 14; approaching, ta, report s% ates. to go this week
to Vichy to aee the Emperor.
THE AMERICAN QTX E8TI0N.
The Id<-? of Foreign Media tlon or "In
terventlon."
'from the London Timet (City Artii le), July 15.]
Although in some quarters the last ne ws from America
has awakened hope* of the possibility of a settlement
i 2* arranged through the tnmJia'iim of France and k'vg
wwa. or by taut two I'awn in a conjuna '?"? uniA Kv t i i,
or by Ruuia ?inp4y, the feeling on the pe int among Uiose
who bare watched ihe whole course nf the war is far
sangeine. It is -sen th^t there la * eesoo to appre
hend that, if a talk of mediatien should h e permitted by
MM gOT?rua?enl, ?l will he merely fur I he purpose of
covering their Inaction during the sewr>ai of deadly heat,
and whtle they are recruiting the 30O 000 - iddltional men
now demanded, and that as seon as strenirt b had in some
decree keen recovered the mediators tu| ht <tnd their
labors closed by aome transparent preU xt.if no a by
open insult. According to tne present sdr ces, the n ige
?gainst England, consequent upon the loathi "g-exprest "d
against General Butler, had reached e pom t of insaod y;
and It is also apparent that in several quae Cera the jj ta
waa again current that it would be a good t plan Bo fori is
ell a quarrel with this country, and to aUriU ute io it ij it
necessity fbr abandoning the war against lb o 8-sish ; in
tne shops at Breton piaoarda are exhibited '.with rhe n a
nouncement "No English merchandise sold have;" and i in
Philadelphia, for the sake of petrt'.stsm , m. ny yersw >s
mil lot upon tne ladies of their family the compute*! m >t
to wear anything of British ?.auutacture.
Th? Fore Ism Consuls and General Batli r
In New Orleans.
[From the Iondon Times, July 14.]
The "Mgjor General Commanding at New Orleans" is
wot the man to forfeit the notoriety which he has sa c
ceeded m achieving To be one of "the world's man)
to have one's name in the mouth of every one on ty e
continenta. has 'always been a dating object to I a
American imagination Whether it is mentioned wt h
bless tags er with curses is a secondary consideratl en
from tha point of view, and we make no doubt tbat G? a.
Butler would rather share a niche In the temple of tm ue
with Haynau than miss his place there slug-1her. I lis
ambition Is likely to be realized. Public opinion in ' tha
United states haa fluctuated m reg*td to h ' celebri ted
proclamation, but it has at last deiinltiveiy pronoun ued
him a hero ? ? ? * ?
We will admit however, fer ths sake of argument o nly. 1
Mr f'ovas brought this punishment on himself, and that
General Butler ? right in holding, as he does, that a.' com- ?
inercial oixrW"11 by which an enemy may incldaf lUlly
be benefited i* as unlawful as one which has for ilv object 4
to increase his military resoui0><s. Can this exctj <? thw,
language employed in the lAlrr part of this leitf r, thtei
wholesale and gratuitous Imputation* of aiding as d abet-'
ting the reliellion cast upon the foreign residents of X.-w
Orleans, and in# ill bred insolence with which'.bey wa
reminded of their piecarious and dei?ndent po*iti*?t
it appears that the consuls had incautiously ??|K>ka-* of
their readiness " to waive all past proceeds ,ge," evi
dent I r meaning that they did not want to 1 torus* the
locality of Oeoerel Butler's original embargo a a the sigar
If he would only give orders for its suapor usion a,a
General pounces on this expression, and, ?vlth id tfae
vulaarttv of on underling dressed in a little hi icf
authority, telle them that they are abet lutely *W his
meroy powers to protect others, and or.Iy allowed to
rgeide at New urleans " so long as they 'behave w?dl "
We did not need the sanction ef this higl. aotLqri?.y to
teach us that Consul! are not public Minis' .era, thil havs
nodiplomatic privileges, but we have ^ways imagined
that it was their special function to pr<>y*ct tl* lade, est -
?r trade and le cotnmunlcete with tha. local authorities,
whether civil er military upon all subjects xflW.tln, ihs
rtghu of their countrymen At all events the Geeeral
thinks It safe to Ineult them, and tly be Iowa in term?
which, had tbey been applied by an Knglttk qfilcer to,an '
American consul, would hsvrfHoused the bpirllof -h?
whole Union. He eurmiase that tbey have heeu so l< ng
sDotied ay the servile defsrence of a "rebel confute.? .
ttoo." supplicating the support of the bo* er. gns whji M
subjeoia thsy are, that they "become maty in ths r ,n
auage proper to be used" towards its regweeentativw o(
a "great and powerful g' vemmcal. " TLns is t. *
way te conciliate neutrals. It is for General . e tier's
superiors to consider whether ths arbitrary trtf ,rmant
?f the subject* ef Powers whiet, if they have w ,?n gon
sited to infringe the principle eg non intvrvea'jr
hitherto been solicited id vain, is liktly to da * flJore g00<1
er harm to ths federal cants.
Mew Bbfllsh^Meory if Hr eognttloM
[From the London Post 'goverrment. eorg,n) Joly 15
1 Ate-rtcan aflhUs approach a ,rts.s v h *h
tate on the part of the federal vovertv ?,nt tt)# adoption
?f tome decided ceurse 'ndeed w? raigbt fljr'th#r
and state that U wxUthor I y tr *w uttrr'n intouiM- for
neutral nation* feromcfn ?7- lolorl of on oimUn
struggle which the harri ZI^ji fjf ** 'edewed atom up
tm tk* comhatantt- ^IFkwi 0^*'^ 'the AostA ha"*, winrlica/td
ilt right to he dotmod aw irnlf* ?i.ni Htiut t Th<* ? iht
quethan which, store thou aV?y tlher n- ,r oce'ipiet the
mmdt of Kuropomn Motes*#*. It is not necesssry for
Great Brltala ti avow or Up justify ths policy aha h*s con
sieteutly pursued daring the peal fifteen vewre, a p? c?i
In which she has been the passive spectator ol ia>eaunc
struggles in almost svsry Kumpsm kingdom. ^oa-iu'*r
vent ion id the mouth of an English Minister i.a not si
empty clap trap phrase. It expresses the true |<elicy oi
the sat on. spoiler from wbieh nogovernmeut whl< hc.uc
te remain three days in office could for a moment s? ei? c
We hsre siisugh to ste to mind our Own affairs. F? le ivi
others to take eef* of theirs. Ws recognise to Its fuller
extant the principle ftol reerp no/ton hoe the right to ckoe,
lit ws form or government. nniI (o tubrerf at plooum.e th.
ejitting onter of thing* When Lonls Philippe wss com
polled to abdicate the French throne we straightway re
oognired the republic which was raised upon its njiQg
nn l wh'-n fr m ihi refitblk' emerged ths present empire
we did not iicsilatij to a< kaowle<lge I,run* Napoleon r
right l-i iske ins iila?-e among the sovereign* of Rurops
tin i 'te wi'led it bat the " elect of million* " should
$ 1, a., il i nee lb* .^stabi.itr oi fortune, and be driven
intu ditto, we would receive at 81. Jau.Oo' tho uiib w n lor
of his snoceusor, whether that succeaeoi wm* Henry V.,
the Couite do I'arte, or M L uto liiauc. lu fact. uoo in
terveuiion m England moati* uuu-intc'ile cue-' in tho aqu to
bies of .ther i anon* so loi g as a stale ot hostility sob
sist*, and amp.e reoogouion of those wlti are lucky
enough to gala the upper baud, so .-oou as hwlilities ter
minal*. ??????
In lha Shenandoah Valley, tleuaral Popa is or was wait
ing to to bo attacked by" Uenoral "St uewall" Jickson,
w hilst that officer was carrying have int" the ranks of
what luts been called par esc<itemc tlie ? grand army ' of
the North. Aud where n that army? If not utterly van
quished, it 1* entirely powerless lor offensive purpose*.
It way secure it* own safety, hut it will not, at lea-t ibis
summer, quarter In the Confederate capital Every where,
tht-n, the t atnpaigu ha* closed, u..d still the So uheiu con
foleiacy stands unsubdued. 11 a not thaliu the w 1 Is a. d
lasluesko* ot the Ulterior the populaunu wage a guar! la
wariare against the reprotei,Uti .es of the g-ve iuuout
whicn charges them witn rebellion All the functions of
government are exercised at Kicbmoud with the sumo,
uay, perhaps with moio, regularity than at W ashing
tou The railway traveller might in tune of peace lind
his way in little more than two hours from one capital
to the other. The intervening co miry is easily traversed.
Mill, at the close of this cam pa gn, as at its commence
ment, the scat of goverumeut of the Southern confederacy
remains secure from the approaches oi the invader.
These are facts to i< hi.h Eun.pem twfioiu cannot shut
their eyes, nor can the gueernm-io of She United,States ignore
them. What length oftime shall Oe cetmdrreti long enough
'o ratify mcccetsfnl arqosstiam to whaf is styled const iuteU
authority f No length ot time can eaifttit'y rebellion,
an-wer* the successor of Washington, aud the descend
an is ot those who fought in the war of Independence echo
theory. But foreign nati-ms <io ?o< rec -gmse 'qmitoAii.xi
authorities." They only recognise miyht. Assume for the
sake of argument that the South is tu open rebslhou,
still the only question for neutral States to decide m
whether that rebellion can be crushed. If it cannot be
crushed, then the rebel Stab s are entitled to demand the
recognition ot their independence. Even the warmest
supporters of the federal government mustooofess that
up to the pro-cut no progress has been made towards ex
tinguishing the rebellion. Shall the attempt, notwith
standing the disastrous failure of the present yar, be
persisted tu next? 'Ihis question Nr. Lincoln's Cabinet
must speedily an-wer. Should tolly still reign supreme,
should three hundred thousand more men be levied, and
should another invasion of the Southern confederacy be
projected, it wi'l then remain for neutral .States to to
termino whether the South has not toy its recant prows*
established it* c.aun to b? considered independent f
the North would tako the initiative, and sail with the
current which it canuot si -at, nottgates weight le
SB <ui the e i a./rceable necessity sf disc harrying a most dis
agreeable duly.
Cause of the En^lUh Atthcks mm- McCIel
lan.
[From tholwndon Hsvaid (Derby organ) id(y 15.)
It is no longer pos.-ible to doubt t.vu Met toMpdi's uriny
has sustained * decisive defeat. Whatever lregsS>ng futth
in the Army of the 1'otoma:-. inay bay* boen kipfljaiive by
the ambiguous wording of New York teiegrusiir.^iliere is
now no chance of concealing the misfortune ttiai'Vas be
fallen the Northern invader, or of sustu uing the-licit. on of
Nerttwru iavlncitoility. Ihe voconrt campaign iicn'sns
did the first, w ith disaster am. humiliation to th"> fwd oral
arms. * ? * ? * *
General JHCIellaxr comrnandc-1. Young and aetSvw ? a
great strategist on paper, a vent critic of our Crtnox "?
blunders, wltle aulinirsed powers et his bacft, and ine a "
stinted eonfidatsce of Die whole of the North to suppoe t
him, his army utiuted him as if with tho sere pre.wm?
meat of vietory the Northern press- could tindnw para 11'A
for him save in she greatest soldier ?f modi rJ days, tuil
christened him "ihe Young Nanoloow." But we vent Hire
to say that uo genwral, either of ancient or modern*dimes
ever achieved
material entrusted
bankmsnts and
ton in terror,
the grand Aruiy
na-as deserted UNCI ilan's plans were- upset The
? onfederates were disobliging enough to .insist upon
choosing their own ground for fighting, iodi tho Young
Napoleon was nonplussed. But Richmond '^vas to be
taken somehow, and tlie point of attack was changed
Suddenly the great army was broken up, and the bulk
of it I runs [air Led to Yorktown la-niuaula. Th ose w
peninsula. Th ose who
knew their man at: once declared the young:?? tpoleonV
chBi.oes gone There was join.: hope in the inert* strength
of his undivided force; very little in his owx .military
skill. The events of the caropmgn in the Yorkfc iwd pe
mnau'.a have removed all doubts about hia clacrt to be
cr'iisidersd a great commander. At Yorktown U le Oon
edorates retired, because it did not auit them toi ifhl at
a disadvantage. At Williamsburg he lost gunsal id pri
soners. aud publicly attributed the success he claimed to
the valor of one brigade. At West Point more guns-anti
more prisoners were lost, and again a timely bevgade
saved the honor of tho u.-tny. At lair Oaks a' decision
was cut to pieces, its guns, camp and material ckptured;
tnd now, front being the aa-adaut, Meridian's Dingy, or
all that remains of it, i* shut up between the Oiicica
homioy and the Jame* rivers, indebted to the prtotwctiou
of gunboats for escape from destruction or su fainter.
In one particular ouly lias Meridian -succeeded in rcweic
bling his great master?he ixas written Sfxccllent parodies
of his despatches.
The Latest Stw? of the Battles Veur
Kiehmond.
[From tlio I/Oiidon Po<t (government organ), July 10.]
The details Willi whirh wo are nov ,- furnished of the
battle at Richmond confirm to the ft illeet our previous
impressions. It was a great Confeiler ate victory. />??'
rinpclcte <m an entire week 'lid the rit al urmie< ceo tend;
and at ,t? c lose the fedorii lorcea had retreated seventasn
tuiles, with the lose, acecsolag lo.So athern accouuta, of
twelve thousand prisoners all tlioir siege train, aud euf
ilcieDl supplies to last the Coufedoi ale army for cotuu
mouths. This is not in twins corrc borated by Beaeral
McClollau; but as he concedes that cm j the 27lh of 7uu? he
was "overwhelmed," and obliged u . abandon twentv-l!*e
pieces of artillery, it is probable it att the account pub
lished by the Confederates m 'mnltl ng allowances Jor-poe- 1,
sible exaggeration) substaiitlnUy o? rrct. At all ? to eta, r
if the Confederates wero not victoi joua, they must be al
lowed the merit of bearing their r averse* with cheerful
philosophy, as immediately after the engagement they
proceeded to illuminate their caff .tal, whilst the ylojwi <?)
which pervades N'ew Ycrk. and ' .Washington evinces, on
the part of their inhabitant*, a very singular mode of
appreciating one of the most res aarkable strategic more
menu on record. * ? ? e ? * ?
There ,6. perhaps, a modicum of truth In the vast mass
sf Action with nhloh the Ms ihern journals are UJied
The retreat on the Jamee ri.v* jr may have been precon
certed, though not exactly wV & the view of facilitating
the capture of Riabruoiad. f eneral McClellan has been
untirinc m hu demand* f3i> t .xnfne meat* for sotuo time
post. He has ot laic oriLood a painful consciousness of
bis weakness. It n? likejjr that, finding the inability of
Ibe government to jeud. at m additional levies, he may
have simultaneously dim.or that his position to the
north of the. < hiutohncill ,y was untenable. Coufideut
that with the troopj-at his disposal he could not tuke the
Confederate capital; dcufc* .til (anil, as the rosult proved,
with reaeon) ?f bute ,g able, in ihe event of
a well-directed attmd ; by his adversaries, to
hold his position, he had reao'ved on raising the
siege, hut at the sac* } time remaining in as close
vicinity as pcs-aWo t? the beleaguered city. It is only
th.'S that the withdrew val of hie right w ing across the
Cblokahominy can be- regarded as a preconcerted moa
mre. Had It barn* llof lelun's intention to abend n all
hopes ot seuing Kioto n ,nti and to confess to the world
tl at ha had tcna cos m|?t?iy foiled, be would have en
leavored to withdras entire army Into the Yorktow n
paniusuia. Em m-JT have oonoeived, however, that the
tame ai d, the mmis rlly bis army, would be equally
gained by ioesB".g, troops between ilie Ctuckabomiuy
and Jaine*rlver.-i?' ,,hi!st the contiguity of his left flank
to ICohioond wrous \ deter lb* Confederate* from boasting
that the megs ol Js ,;,ty had been utterly abandoned. The
sudden onalaugv . 0f Jackson. however, preventel this
movemont from.' ocmg efle*;ted with that regard for the
safety of - ego trains ind baggage which would have
been desirable |f, m (*c\, the rotroat of the right
wing to u<e James river waa preconcerted, it
isevitont the/ nn the 27th June matters were not ripe
for i ufrylee jBto execution. What was intended ex
.to t are been a strategic retreu nee ?me a disss
MTous fl.ghW (tune were lost, baggage and stores aben
^lui ad ou4T thou.amis slain or token prlsouere in a pre
* ot v*ir'. d retirement over seventeen miles of ground.
Deild.-dly ' ienet al M<dellan does not (leeorre the prvlee
which >'to oiaon tiestowed on one of bis marshals when
he said tiyj )y, luryasierl all atherl tn orpanitmg and
<endue * g mat'erly retreat*. However, wb ther prede
wriadi* |or not, the recent movement has loft i.ouerjil
if u in and his *mjr many miles farther distant from
KichijW IJ(j) on the banks of the Junes river, with ?
TrWnJ y flotilla of gunboats tn his rear ready to shell the
Con.# leratea should they attempt to force htm once more
10 & ,t in'piactice kit noeel principle* of strategy
V
ie Prince* of Orlsans m American Sol
dlere-Whet England Thinks of Their
lervlee*
[From the London Poet (government organ), July lfl.l
The two young princes of the House of Orleans have
abandoned the military service on which they had enter
ed under the federal government, end will again quietly
settle down in the peace and privacy of their own borne.
Why, tnoet people will be lucimed to ask. did they take
service under the federal government at ell'?what mo
ttves could have prompted them t? such a step*?what
benefits did they hope to derive from It? Whatever re
Citation for youthful spirit and enterprise they might
ive expected to secure by joining in e foreign quarrel
will scarcely counterbalance the peculiarly ungraceful
and unchivalrous manner in tekuk they hadily returned to
their then hi the swords which It would have been wiser
never to have drawn.
The part taken by the young Orleans Prlt c?s in the
American contest was from the very first a great mistake.
We can -welly enter into the feeling by which young,
high spirited and ambition* vouihe would be induced to
self# the first opportunity of eh wisg to the w*>rld that
in personal valor, m lbs readme*** to do sod dare in
a noble cause, toey were not unworlby of their Illus
trious lineage and to show to the whole world that the
bl"od of Henry IV and of Coode flowed la their veins.
We can likew ise easily imagine some possible c.*ae in
which, had the former United utat** el A meres found
(hemvlves *>ngigeil in hoatllilles wi'h a foreign Power.
It might save been both politic and graceful
In the Frenrb Princes to have fought under
the ling of the Union Wi'A the tradition* t,f the
Jirlt ett/Minhment of American Inilejxivlen e art in
MfUtraUy t> endeit the fetri p ayed l/y mam/ dirtin
guiihed h'l'n- hmen, anil to* the F, -itch g- rernment itl'lf, <a
thai eventful cont'd. It eiuild thero'ore have excited no
surprise If, In the event of such a h.V|?>tbetlca! ense being
realised, the young Orleans Princes, from the natural
wish to keep pr?m.netitly lwf<ire the whole world their
firs" tin! ei.ergv and enterprise, had voluntarily incurred
the ri.-k>< and teila of -.ne or more campaigns llut the
nans is widely different when, ea they have ju*t d*>no.
they needlessly and mo-t iajodiciousiy aidwl with om >>f
the combatants in a purely civil strife. To take an
active part ib the civil contests of au iher fconntry. to
become entangled in the fnud* and fjo?i"oa of a fe.eign
people, ia at all tunes ap*j foj #j)noj|t ?1J classes or
lnd)vt(lk|j| 1 to'jjse (fteatly to be cTeprecaiod. It is
hot without ita drawbacks, even when a mei
private gentleman, actuated by all genorou* syni
pat hies, enlists ubd*r|tbe command of a tiari
bahli But for prince* of the House of Orl-ans to have
rushed into the thick of the American struggle, and
there hotlv to combat with the federals ngsinst ihe Oio
federal, or with the Confederate* against the fod.-rala,
apoears iC us a mop dcflrieiii in all the qualities of cum
m>>u worldly tac??ind prudence. It ought surely to have
t) .jo lite drat tfhjag't of the adviser* tuid gu trdiaua of
these young prlui m U) aid that, iu thus ex|iQtjillf their
lives, they did so lor apme feat, clearly letlnod aud
yneroim cause; th it tbeir pai licipati >11 in audi a oa ise
aim Id hi mg with it a . uri&tu increase of pui.ileal, not
ice* than of ui. rai weight -tljl that, uhtlhe the slue
on which they f night sho.ild b ? victorious or vanquished,
tliev should h!wi>h i amain the gamers of increased
pars lial reputation aud of augmented political
prestige. In u. at way can it be paid tliat
these results hue been secured by th# part takou by the
Orie.is Print;.- in the civil contest on the other side of
the At enticf Ha the preeci.ce ? the fe teral camp
given add.ti 'Uai si.on th to the hopes af their partisans
or to the tot rests of their own taunly? Hive they, it
may tie further asked, br ught any ?tr< agth to the fede
ral government In wb se rauks they have serve .f Have
the interests of the House of Bourbon bees so nine, era
My associated with the political and commercial terileu
ctoe of the Northern as opposed to thuge of tin douthcru
States, ihat ibe jenny princes or that house w re justilied
iu gfatui ousiy provoking the III will of the O afedcrato
govcrhin ut by .uuiing the tanks of its opponet?a? lias
it come red any service i.n the gov tram nt a' Washing
tour toay it rot, oa Hie contrary, rcth r fxciitatethe re
eogntion of the Sutkern crmf eracy Ufj P, ance, that two
HourlKin .?ii ce< have ostentatiously been flghtin;; tuder
the gene lie of 1'resident l.lnretnr ? ? * ?
If, however, it exhibited s want of political tact and
foresight ui'thn yo tng Orleans Pv dices ever to have join
ed 'ha federal tanks at alt, .1 stiMr sore striking deficiency
of these qualities is revraled n? the conditions under
which they lave now igntted ?hem. Whether it wair
wise or foolish in tbuiu to have t.A.m such a course may
be a fair subject 01 discussion. Bus, once there, they
cei Utility would *tave evinced a higher spirit of chit airy
no: co have abanlm d the federal emote at the very uio
m ut when lort n.v was frowning meet sternly on its
arms At present their whole ooud-iot appears equally
foolish and lutile. They seenv to home engaged in the
transatlantic conte a with no more dotn te results than a
my lineal French potentate of oatupaigniug memory.
They have crossed lit* Atlantic simply fci recross it. And
their return p: esoute dsetf to tbe eye 'if the calm ob
soi'vcr in the somewhat pitiful light of that of political
aud lrhhtuor adventur irs scoklug to oxtrxtate themselves
with aa little delay as passible iromttnuusuooeanful specu
lation.
Opposition to KnglUlt Ihtei'vewtlon,
la the H .use 01 Commons, on the .bill of July, Mr W.
E. Kostkh gave notice thct on Friday* next, in' the event
of ihi Uunvrabie member for ?tind< riand'a motion, re
Oimrrwrriding her Mail sty 'd'governmoirt to interfere in the
existing o.inio-st iu America, being put as a substantive
motion, he would move an an ameucihient?"That'this
House will cordially support her Majesty in persvrcring
in tbe iwMcy of iiou interveottou iu relation to the exist
og civil war iu America."
Preneh Advocacy of an Amuigrmtat.
[London (duly 14) correspondence of the I'aru Moo He nr.]
The battle before Kiohmond is looked u|?ou as a.eotn
plete defeat; for the ledoral troops. Tbe most devoted
parti-ana ot tl.o North admit that the reverse .sot the
most serious tharacter, not only lor the p. mil ion of (leu.
McCloliaa, but also for tho Northern cause. Withia the
spies of one week here are two great battles both lost by
the North. Cutler these circumstances it is hoped that
the parti am of an arrange!n w will be emboldened to-raise
their voice
The New Alliance of France with Ri
[From the l'arte LaTempe, July 14.]
La Patrw gives us to undeistaau that the new Franco
Russian alliance roposes on the maintenance of the status
quo iu Italy. It is the mdeflulte prolongation of the
foreign occupation of homo nnd Venice; it is a barrier
opposed to the completion of Italian unity; it is a con
cession by France, the friend </ nalinvali'xes, to Russia,
the enemv of nationalities. The same observation applios
, to the coiillict betwocn Denmark and Germany. The
| Scbieswig-Holstein (|iii-stion Is, like the Italian question,
* ne of nationality. Reasoning from a French point of
-* iew, it caunot have any other solution than the univer
se 1 suflrage of the part i03 interested. Russia, which does
as t care about universal suffrage, brings to the discussion
eg islderations about balance of power, of inlluence,
am I even of family interest, which nil belong to tbe
act system of rights. Here, again, it is a concession
ot p: incipie which France would make to Russia.
Tins Russian alliance will, again, None for iffeii to
i-nrn v??e 'he uneasiness and the aoita ion of (Hermann,
an t; this is what we ought not to wish for. The double
pre* ore which she will feel on her flanks will pro
baJJlj drive Gsrmauy to hasten tho constitution of her
tini'-y ? She will be right; but, so fur as regards France,
Goran m unity is not a desirable thing. We well under
stau4 what Fsm.ce loses by this alliance, and we do not
ssu *1 'tat she gains by it. We see it the less that the force
of uh Russia might disjiose is absorbed just now; it is'
neiitm lized by her internal agitation; she receives all,
but en i give nothing. It is able on her part, aud chiva'
roue on ours. Tbe English alliance, tbe bonds of which
this at w understanding with Russia must ne e sarity
foo'rrt,| Kisaosses the remarkable advantage of menacing
no one, ?tid of b ;ing proiliable to every one. It repre
sents, 0 'rtainly, the greatest force that has over existed;
but, it k is nothing threatening, because the closest union
will Mr .er prevent Franco aud England rrom watching
ennh oil er,and from neutralizing each other, and because
neutter (he one nor the other will ever think of turning
the ailA nee to tbe advantage of |>artii-ular ambition. Ex
-eiusivet >1 every pciannul and interested end, the alliance
iof Vrane " and England it forcibly destined only to prmno'e
,trace, li irrty ami general cMlixation. This is why It
,pie*sos c s, and this is why we fear everythiag that inay
?-weuktn fit.
JL 8(n??tIon Article front the "Old ilim
Sltiif'v" of the iVewipaprr Preu. A Hit
mt "tl it Leading Journal* of Oar Prln.
eipaL Cities." lb. He ward Pat Right
I'pon the Record, Ac., dec.
[Fltln thu National Intelligencer. Jnlr 26.J
In order to meet the utsat nto donuod for exciting
wei which prevails among all clashes of people in dense
communities, 'toe leading journals of our principal cities
keep cor rest m?i dents at Wasomgton to traren.it by tele
graph or letter the many volorrd rumors, the offspring
generally of surmise, wbish are hourly flying about the
intlls of the hotels and of 'he executive departments; aud
when these flag or fail, the journals themselves supply
tao dsQoienoy from Mieir own fertile imaginations.
In general these creation*. are harmless, and, having
served tlietr purpose, a?forgotten in the exciting des
patch of the following day. Sometimes, however, a
bolder stroke at sensationdenh in matters too grave for
sport and calculated to work evil abroad, innocuous as
they may he at home, whnre they are Tetter understood.
Such is the character of tome speculations and imaginary
probabilities put forth with much emphasis by a New
York journal a day or two ago.
On the authority of. its "telegraphic despatches"
from Wa li n.tou U-at journal -niorms the public
that from the co: dieting views of the members "the
t'abiuet has been ou the verge of a complete dlsaolu
tieu." that Mr. Seward h-ia nude up hia mind to
resign his position it his counsels were u<>if acceded
to; that bis retirement would have led to as entire re
construction of the Cabinet; that to avoid sect) embar
rassments at this ci isis, and especially lesirnis to retain
the invaluable servdas ot Mr. Seward, the President has
resolved to harmouzc the execution of the Confiscatloa
and Militia acts, fee., Jcc. Furthermore,. that a no#
movement ou the political cheauboard is a move of the
conservative democrats and republicans to make General
IHx Governor of New York and Mr. Seward Senator in
Congress.
It appearing to us that statements of dissensions in the
public councils at this critical juncture might receive
MMtntanabroad, if none at home. and prove preju
dicial to tho public interest io the European world, we
th<ntght it our duty to ascertain whether any foundation
r?a ily existed for revelation* of so eerioiis a character.
A CALL I'PON TH8 PKCRMTABY OF STATE?BK DE
FINES HIS POSITION.
We therefore look the liberty of seeking the truth
where we were sure of finding It : aud to our Inquiries
respecting the alleged dlsc< rde and probable rupture if
the Cabinet, we were frankly answered, so far as the Sec
retary of State i( concerned, as follows
The honorable Secretary freely admitted that be felt
perhaps more sensibly than others the Importance of
avoiding misapprehensions in public affairs, because it
devolves upon him to d illy counteract ihcqoffcct abroad of
publications whi h of In are uot mom Incousideratcly made
than they are speedily corrected et home. Tho armies of
the government, which arc rtroug as thsy are brave, need
roiniorcements, and the world needs to know that
they are promptly coming in response to tb* call of 'he
government. Every rumor of division ef counsels and of
conflict among or about our gtnerals. every private
jealousy, snd eves the utterance of every private grief,
however unavoidable, tends to defeat these important
objects.
The Secretary therefore, felt fully authorized and at
I'erty to say that he nevar exeiciaed nor aas urn ad a
power or a dot? in the progress of this war with winch he
was not specially charged by the l'residant, and Ua tht per
formance <f which be was not always in frea communica
tion with him. That neither to the 1'reeidem nor to any
other person hsa he ever expressed distrust of the Preei
dent or of any of hi* associates Id the government:
but, on the contrary, has uniformly supported and de
tected them all That he has not been quick or witling
to aoter'.Hiu complaints against any Gentral, whether
Scott or McDowell, Fremont or McOellan, or Halleck, or
Gran', or BuelL or Dim, or Siegel, or Shield*, or Hanks,
or lilencker. but hna exerted Bis beet endeavors to sus
tain them all. m re whan they encountered defeats than
when they achieved vlcior.ee That he has neither in
trodueed nor encouraged any teat question in tb< Cabinet
concerning men or measure*, or even said or thought of
insisting on the appointment, or approval, or rejection of
any man, or the adoption or rejection of any
measure, as a condition of adberer.ee to the ea
rn mut ration, to the war, or to the causa uf the
eountry He hue never seen any interneerance
in dabate in tb* Cabinet, and has discouraged it in
public bodies and journals equally whether it appear* ta
favor of his own view*or against them Ibal be no- or
pit poood or aven thoi ght of raqolrieg tb* removal or
tb* overruling of the projosliiooa of any member of the
Cabinet, nor be* he proposed or thought of resigning hi*
own place In it. nor has ever ou* word of unkindm-as Or
distrust pasted between the President, *r any of his* Al
eut advisers, and himself He is content, as lie hitherto
has been to remain where he is, so long as tins au??'*e*
and iniquitous war continues, and so long aa the chosen
rbief Magistrate ef the country requires it, even though his
adv Ice should be overruled, which happen* very rarely.
and then incasaa which Irta own Judgment, better informed
Sometime* approves. At the aaino time he would not, If
he cojid. for uny reason prolong bis stay In tho place he
now holds on* hour beyond the time when the I Tee id en t
should think it w is* to rtllevt htm. and when lie shall
retire from It it will be with the determination be lias
more than on* a heretofore expressed, under no clrcutn.
ataiicoe w hatever to b? a place holder in the service of
his country, even although us lie mot t confidently ex
pacta, It ebeli emerge in ite full strength and greatness
from lis pi "sent, troubles. 11* hopes an one of Ins follow
i iti/ens thinks so unkindly of him as to suppose that he
would be content to ' ven ue powe. io e fraction of it If
it liotild consent to be divided
Death of an Actor.
Iloviu*, July 28, 1862
Thornss 0?m*r. a well known aelor tnd musician, died
|*?t rveuing at tho Uromfle'd H "is., aged seventy two
tears
City latclllgemce.
PMtMm ?tur C u*kio?o* AMO ?? F?*?
C?*A?r.-JTha BUltm Ul-d Vmrrj Co.np.Bir lave eeUb
hahed a system of giving posUM**1"* to ch^?*'but
ol nut taking them in return, winch it a of some Impo
anoefor the public to understand Yeeterday ..vera,
SJiUtv for Sutco Isbutd and?
bill* to the ferry master, were liberally stippii_
postage stomps m elmuge, snd obliged to ^
not mw'tnt or else return home disappointed
were not uiauy people who objected very
the adhesive currency. tassinuch asit was ua t .
posed that them would be no dlttlcaliy t-B^tin* r.d oy
the stomps In payment of their (arcs on return g
wiiai was the surprise and Indignation ol these peop
to find themselves dissPP0**? .j" '^diM^phmW
The ferry master at \ underbills landing, a?a
refused to accept the stumps, *'1 lL' New York
had boen given by the !*rry muster aUhe
?i,le, deolaied that he had nothing to do witn
doee in New York or an) where else, be hi* *'I)0t
strontkms and intohded to act up 1 ?? .
a do a-n right impositionto say the '""St? <ompnsy
qu0illD?oMe way oT doing r nroC0Odinfl. U
should establish Home unilorm mot tod of proccjwiwi * ,
t hey expectto give stomps m change thstrshouM^he pre
pared to take them in return for It is hMd* f?u |
the advantage should bo lnJJe{j^w." lice this ar
be hoped the Company will aee th .1
raugemcnt and give the proper instructions to tumr
A^i'mMhW Dsowysn Coroner Naimuobeldania
quest yesterday, apon the body of Chafes K, W?s??^
child eigbl vears old, who fell ovcrdwd and was
drowned at the foot of Harrison gtreot.
pearod, was playing sn the ,uer wh^he ^itnbled over
the string piece and was precipitated into- w*e wai
Verdict, accidental death
Paitonal Intelligence*
Conors' O M Ititc.Uot.of the Unfted StaUs ATmy,has
JZ * .ho Kvorett U.?bs, whoro ho will remain while
"roiTa-al^Shouley Military Governor of tho State or f/m
is^arrfvuTlmre ut aTiirly hour yesterday mornmg. |
? fter stopping lor a short time at the Fifth Avenue Hot* I,
for bre^astflie prooeeded- by the eight o'clock train, to
Porllaud.Me.
( aDt. K. w. Mitohel, aidtoliis futlic r, Con. Miloht 1,
Duniel K. Stewart, of Virginia: B.J. Conner and wifo^ ' 1
W H fice, o7 Cincinnati; F. Barr.not and wito.J^o J.
fA^oST: ST&SSL at the KvdM
H. 1 lor ton, E. H. Hammond tuid?. W. Boy ton, of Boston.
Cant. William Chad wick and wife, of Lynn, Mass.;
(* F. WlUiou. of Providence; 8. BoUuu and wife, and Mr.
Will bank, of Philadelphia; U M CUBS, ol *?*???!??
Rogers, of Washington, J. C. lUissell, of Gi cut Barring
ton L. Morse, aud A. and Miss Hammond, of Boston. J.
(' lianforth, of New Orleans, andi*. R^JPerkins, of i-tica,
were among the arrivals at the Astor House yesterday.
Hon. 11. S. 6anrord, United States Minister to Belgium,
is stopping at the Brcvoort House. He v, ill sail lor
Europe in the steamship Persia to-morrow.
Arrivals and Departures.
arrivals. ? ,
L(o'UMTh?.?iToi^on!' M i' Gilbert. lady'and child; Joint
%;rSry SAW "|ma.W : lad" M MoS^rk/tanleV Chas
If L v.rli u v'lohn Mfi-anpin, Mr R..vmond and lady, H
Mar e vs la.lv a I infant Mr Monro. P E Va querel, Capt
' wife, three
Mrs E^Be^rt ami daughter ITA V
Fv?ff' e\ Mrs M Welem. Nr. Hall. E Mouteret. .1 I, Char
) nMri E Hl'nelv 1> Rni/, -V de I'andofH, M M Entrado, Mr#
W ,1.r V Mr-'J S Mola and servant, Mis< K Riee, Miss
2 I P ,rf't?r S V/oV P Mora, C O Cailft^han. II H Bishop,
L^e as A'Eeuado. Mrs EG Pooler. T Terry, wp t?o
i u i I iiv . s Traits, two Misses Terry, A Terry, J
Tmrr Slr anil M:s J Arcliard. 1, F .Mantilla, K Castello. M
?nii? li i,laiiKa S Tryou, L F Apartegluo, !? (.smia and a >u
m? P ?r3 r oin three children, Miss M Tattle. C
Mrs K qa-rHUhH ' ' )(, j K vidand, I M (ie Cuerua, h
Pedruro, A Bone . UewUPr, y Cueras, J M K'mirox,
KB^snd ?iv" id. -I^'de Xif-rte, T*rto?,, J M Fernaodes.
D Auiilude W T Kayil. J Rowland, M Mo In, G Mo a, FA
Bemal D llun.U.R, W Leon. U R Ayrcs, J U A.rglaue 8I S
RZ anjla M L?.o?de. V ^ *
Rai,ov J A Fester un<l Udy, A AUler, J Juuriier.it. S
ffv "ni Jiian Belola, Mrs It Albertari. Mra Wailaworth, W
Hiri C li IsulorJ, K tiglen. Mi,a <5 Porter. A Maurioe,
a Mhaira CD! kens. Mrs .f Rerer. C \ alera, J K Marlines.
* Nkw Gin kans?-SUsaniBhlp Marion?J F' Ahh'n, .1 ?iij
? w e?'i e A Blsnehe, six children and servant; W A Bel
r? : ^"g^l ami daughter, u H Barton, lady, Intunt a id
? rvHtii D W F Ui b?e and i?dy, W m Bugol, Mrs Bog1'! jnd
duughUr J,B^i;n?m OF Brotu JJ;fllllti
^. Inhri H Foster, J Frost, T Fernow, Rol en Flynn Addl
i'? Case Benjamin Goodman and Maaier Benjamin J on as,
VtSaMFHoaJand, M tl Ho.ighton. O Hmter. v\ M Gillem,
W W iledJoa. J ? Hoiden, Jo., Hand. Daniel Harrison, G C
Y-,i u Holt/, C J?nb?rl, lady and child; Mrs L M Lercin,
vT^m\ncr U B llw, J L Marshall. It H Montgomery, Mia
a,*F Mi ie'r am 1 two infanta, George W MuOce, G Moore
oJi 0..'h Miller rt R P M'-Mahi-t, John Martin, Chas
*fSh- n and lady, Ge irga Nathan, lady, Infant, ehild iind two
Nathan a rJprti, J p Nelaou, Jehiel Read, V\ E Rnad, J
B'rlS tiapi Sturterant, KB Stanton and lady Li. Smith,
n,iv,?rd sliutrasius and son, Miaa Bunaraaius, T li Stbbeld,
H fchvrarTenba *k o od enlld, L S.udle. T Tlia, ^ Wj, uvo
is three children end dorrant, N Tnrne. Sr ww- win
T m LO Tliorp Mra Mario Votsln and acivant. ?\ jaat.H.
elflchmsn Mrs J W Wia lohi, two ehildren and servant.
M w Withenbury and daughter, Mra WclU, Mra Vt oflUrd.
w ignroc?St^nrashlp BAXonift? E WsrUurg, T 8 r sv*
^l1.eEh ^n^Va^b: A
S"o^n^rH^rsel'' JS&ZS
PhUl^Tho. <imn' Mrs Hasmau, M'r. Dellle-and ? In ?
?0FuaTKbKss Mo.taox?Steamship Belvidere?Mr J R Stearns.
\fr? l)r liro C Black well and two children, of < ?*u^n^li'
r Heto-o US^vv; WmJonea, CS Marines; TliusB Uford,
au-ihur Dalv Jilin Connary, James Stephen., Edwd Doher
t* laa Doraev Thoa Bchrqader. Wm Slmpaoo. Win lliomp
^ Curry rmri of erew of priae ateamei Tubal
csli ttdhtvi and Christian Andewon. passenger,
ot print ateaafcer Tubal Cain.
FINANCIAL AND COMMERCIAL.
Moxdat, July 28?6 P. M.
To-doy's bank statement compares as follows
with that of last Monday:?
Wrtk tnd'g. Lnant. Spxit Cimil'n Ptpnn'i.
Jill J 19.. ..$143,S27 423 31.926,600 ?,166,301 120.4S5.077
July 26.... 140.766 203 33,064,676 9.244,05.1 132.427,178
Increase.. 1049.870 1,137,966 89,662 2,941 201
The feature of this statement is not the increase
of specie?though that, considering the export of
coin that is going on. and the price at which it is
held, is very remarkable?but the increase of near
ly three million dollars in deposits. Our bank de
posits have run up forty millions within a compara
tively short period of time. They are increasing
at the rate of ten millions a month. This fact con
tains within it the key to the financial problem of
the day. All experience mast be dismissed as
futile and calculated to deceive, if so steady an
accumulation of money as the bank statements re.
port does not, sooner or later, give rise to some
kind of commercial or financial activity.
The money market continues extremely easy.
Money is abundantly offered on demand at 5 per
cent, and many loans are effected at 4. Demand
notes are selling at 106% a 107. Certificates of
Indebtedness command 9H% a %.
Foreign exchange was very inactive to-day. We
quote sterling bills, bankers', 129 a %, with very
little demand. Gold opened this morning at 117%,
rose to 117%, then fell back to 116%, sold at the
second board at that price, and closed at 116%
bid.
Stocks were very inactive to-day, but prices at
tho morning board were generally rather better
than on Saturday. The feature of the market was
a general disinclination to trade. No stocks
were offered, and parties who wanted to
buy were compelled to give % a % more
than they would have paid on Saturday.
Opinions still vary with regard to the
course of the market; but the prevailing ideals
that the period of dulncss which has lasted since
the battles before Richmond will, like the similar
periods which followed the battle of Bull run and
the raid of the Mcrrimac in March last, be suc
ceeded, on the first military success, by a renewal
of speculative activity. The favorite shares con
tinue to be Erio and Central, to which operators
are attracted by the large increase in their earn
ings. Experience proves that, however slow
stocks may be to feel the effect of increased or di
minished traffic, they are sure to feel it at last.
Pacific Mail was active this morning, and the
price advanced to 112 on buyer's option,
Oomrr.odore Vanderbilt has now no interest
in the concern. Governments were steady
tills morning. Between tho boards there was
I no < hang* in price, and very liUle business
I done. At the second board the lcndinc shares
were a faction lower, and the market wae ex
tremely dul'. The following wcro the laat quota
tion*:?United State? 6'a, coupon, 1881, 96% a
99; United Htatea P*. coupon, 1874, 87 a 87;
Treasury notes. 7 3*1? P?r ceut- 102J* a Wi''
Tennessee 6's, 50% a J0%; Missouri 6's, 46% a
46%; American gold, ft6% * 116%; Pacific
Mail, 111% a 111%; New I't>rk Central, 92% a
92%; Erie, 33% a 34; do. preferred, 62% a 62%;
Hudson River, 45 a 46%; Harlem, 14% a 14%;
do. preferred, 35% u 35%; Heading, 56 a 56;
Michigan Central, 68% a 59%; Michigan Southern
and Northern Indiana, 25 a 25%; do. guaranteed,
64% a 66; Panama, 131 % a 132%; Illinois Cen
tral, 66% a 66%; Galena and Chicago, 67% a
68; Cleveland aud Toledo, 47 a 47%; Chicago
and Rock Island, 63 a 63%; Chicago, Burlington
and Quincy, 78% a 78%; Milwaukee and Prairie
du Chien, 31 a 31%; New York Central 7's, 1876,
109 a 110; Erie third mortgage bonds, 98% a 98%;
Michigan Central 8's, first mortgage, 107 a 108;
Illinois Central bonds, 7's, 92% a 93.
The Bub-Treasurer at this port received laat
week about half a million of dollars on deposit at 4
per cent. As money continues to fall in value
fftese deposits will increase again, and a very large
proportion of them will undoubtedly be exchanged,
by and by, for government-sixes. Time liaa now
triad the system of finance which Mr. Chase has
adooted, and the public verdict is that It works
well. There arejrtill a few persons who cavil and
carp at it, attempting to make Mr. Chase responsi
ble for the fluctuations in the-price of gold. But
these woakers have few adherents, and are re
garded .is either, em the one hand, sneaking trai
tors, who have not the courage to avow their
sympathy with the rebellion, or, on the other, as
ignorant end silly persons, who are- in hopes that,
by denouncing Mr, Chase, they may get themselves
into notice. It is hardly necessary to repeat, at
this late day, that by issniug pisper money
and making it the euTrcnoy of tho oonntry Mr.
Chase merely followed the example-of William
Pitt, the greatest finance Minister that England
ever had; and that, in every particular in which
Mr. Chase's scheme differs from Mr. Pitt's, the
advnntago is on the side of the former. It is a
bad thing, no doubt, that gold should sell at 16
per cent premium. But this is one of the inevita
ble results of war. We might have prevented the
rise in gold; but it could wily have been done by
acknowledging the Southern confederacy. Given
the war, and paper money, and fluctuations in
the price of the precious metals follow as a matter
of course.
The effect of the issues of paper money
upon values is likely to produce, Booner
or later, a change in the direction of
investments on the Stock Exc hange. For the
past six or eight months there has been an
unusually large amount of money invested in bonds.
Bonds of all kinds have risen from 10 to 50 per
cent. None of the first class first mortgage bonds
can be bought below par, except the firsts of the
Pittsburg, Fort Wayue and Chicago. Many of
them, as thoso of the Hndson. Harlem, New York
Central and Eric, command from 106 to 110. It
is easy to understand the appreciation of these
securities, even without referring to the handsome
traffls on the roads. People who have had
money?i. ?*., legal tender notes?have been
anxious to invest it in something which paid inte
rest, and they first turned to the bond list as the
safest investment. It is now, however, being dis
covered that if the issues of paper money cause a
general appreciation of all kinds of merchandise and
property, the man who will be the first to suffer will
be the man of fixed income?in other words,
the bondholder. He will be paid in paper, not
gold, and if $1,000 of that paper should only
suffice to pay for as much merchandise as he could
formerly have bought for $800, he will be a loser
of the difi'erenee. We learn that several holders
of high priced bonds, acting npon this theory,
have been selling their bonds, and investing the
money in various ways?to a very considerable
extent in stocks. The income on stocks, unlike
the income on bonds, is unlimited, and as the rail
ways are already thinking of raising fares and
freights, so as not to be behind hand in the up
ward movement of prices, they may be enabled to
increase their dividends so as to compensate their
stockholders for any apparent depreciation
in the currency. The recent unexpected divi
dend on the Galena may be regarded as
an indication of this policy. In the case
of that rond the dividend was raised from
six per cent to eight per cent per annum. Its
stockholders can afford to submit to a seeming
depreciation of 16 a 17 per cent in the currency,
as their dividend is increased SS.per cent. As the
leading roads of the country are now. for the
first time In five years, fairly in the hands of their
stockholders, and out of the hands of credit
ors, it may be expected that the example of the
Galena will be followed by other companies.
Mr. Chase has directed that parties converting
currency Into five-twenty bonds'may hereafter pay
the accrned interest in currency instead of gold.
The business of the Sub-Treasury was as follows
to-day:? ?.
Receipts $362,805 68
?For customs 210,000 00
Payments 859,001 63
I'alauce 7,787,037 53
The exchanges at the V>, Clearing House this
morning were $35,410,007 26, and the balances
$1,468,020 69.
The business of the Reading Railroad for June
was as follows:?
1801. 1862.
Received from coal $216,1 HI 174,221
Received from merciianiise 28.823 30.216
Received from travel, &c 26.066 40,846
Total $270,051 254,284
Tratisportntion, roadway dtimpnge.
r. uuwal luod and all charges 130,826 163,559
Net profit for lbs month $139,226 100.725
Net profit previous 6 mouths 601.055 725.846
Total net profit 7 mouths $740,281 820,572
The earnings of the Cleveland and Fittaburg
Railroad for the same month were:?
1861 $104,000
128,000
Increase $19,000
The earnings of the La Crosse and Milwaukee
Railroad for the month of June were:?
186 1 $108,000
186 2 112,000
luerease $4,000
The earnings of the Terre Haute and Alton
Railroad for the quarter ending with June were:?
1861 1862.
April $66.6X0 71.854
May 51,711 75,481
June 41,449 77,194
Total $158,840 224,629
Inorease 65,689
The earnings of the Chicago and Northwestern
Railroad for the the third week ia July were:?
Passengers $5,051
Freight 14,1.33
Mads and express 645
Total $20,986
Cor responding period In 1861 14,420
Increase $3,609
The earnings of the Buffalo. New York and Erie
Railroad for twenty-one days July, 1862, were:?
Twenty.ons days July, 1862 $39,064 44
Twenty one days July, 1861 29,112 64
Increase July, 1862 $9,941 4)0
Stock Exchanse.
M'ixda*. Jiily.28,lW2
$loeooV,<01,'Sl,cou 99 >4 $11300 American gold 117
:;06<) do 99'4 40000 (to 117 St
SOOOU^O's. Sl.reg W814 80000 do H7)<
'jihmi rS5's, '74*cou 87>4 200 she Pherdx Rk.... loo
15000Vc?'?81,Owl)4y 07 5 Hk oi Commerce.. 00
r,.;o Tree 7 a 10 pen. 103 8 Am Fx Hank 92
50" 0 d" 102k 50 Chic * K 11 Hit. . ;?S>
TOO do smsll. 103K 80 Pel, I. * wee RR. 94
6000 C9 0s. 1 ycer 9Xj4 26 Pec Mr,i18SCo... H?v
lOOOt) Missouri 0 ?.. 4100 tie 8S0 110V
do xOO 46', 200 do HI
2000 do 40% 60 do. Ill)/
6000NY1oBH7 ?.'-10 101 2?0 *? 1,30 IU(
lOOOOratRSdtnVMriO M* 20 do IttJ*
4000 BrioRK athaibs 89 X 660 MY Ceo KR 0V*
1000 Har 1st m bds. 106* 200 do 810
604MUaXtW4Clm 02 140 do MX
3000 do 02 X 60 do. elO 025i
1000C,B4gRR8pcb 108 0 do 03
1000 TolfcWab 1st m 02 60 Erie RK 34 X
2500 Tol k Wiib 2d m 62X 300 do 34
6I>00 do 63 60 Erie Kit prof 02 <?
4000 CloWol ->kg f b 01 260 Mich Cen RR 69?.'
6'KM) d > 00X loo do blO 69 X
6 )00 do 90X 100 MichS & N I g Htk 65 X
7004 a',Ft WiCta 2dm 77 60 111 Cen RB scrip.. 66X
6noo do 7TX lOOCIcveil'ittsRR. 21X
looo Gal&Chic.lm ,ex 105 x 60 Galena kChic RK 08';
20000 American gold. 11TX 200 Cleve 4tTolKRb30 47X
HKCONI) JIOAUO.
A10000 US5's,'T4,C'U 87 60aha Harlem RR.. 14X
M2000 USO'b.'SI.cou 08X 400 do 14X
10000 I'.S 6's,'81, rtg 98X 2" Clev k Hit's RR.. 21X
3500 Trca 7 3 lOpcu 102 X 60 do 21 X
2000 Teun 6'e,00 .. 60y, 10 Mich Ceut KB.... 60X
10000 Mo O's... bOO 46X 10? do blO 59X
10bOKriuKl<3m?>'83 03 X 60 do 60 X
25000 Amoricaii god llt>X 60 do BlO 60X
100 shs Rhonlx BV. 100 200 Mich S k N 1 g a. 6*
loo l'uc MSSCo..b80 llix 100 "?c*"1 RR scrip. 66X
150 do Ill 100 Gal k Chic R11... 68
200 do....830 111 100 d" 81%
62 do 11W 800 Cltv k Tol BR... 47X
150 N YCeut RR.. 0ZX 60 Chick HI RU.. b 0 63 X
250 Erie RB 3i% 100 do 830 03
200 Brio KRpra..b30 02X 190 do blO 63 X
200 do 62 X
Mew York City Banks, July 1809.
Hank*. Loam. Specie. CimU'n. De toii'l,
America 7,728,139 1.125.477 45.582 8,264.338
Am. Exchange.. 7,013,702 2 266 885 375.352 6,607,786
Atlantic 630.032 88.0T0 105 65o 391.817
Broadway 3,640.884 1J47.932 327,277 4,764,107
Butch. It Dror.. 1,559.576 148.756' 206 761 1,032,681
Bull's Head.... 469,223 28,066 131,014 432 121
Chemical 2,435,021 2,399 850 04.307 5,176,471
Chatham 888,839 104,208 01,230 085,631
City 3,359.472 1,042,780 ? 4,822.084
Citizens'....... 918,313 01.201 167.208 716 266
Commerce 12,861,546 1,182,504 1,715 7,836.483
Continental .... 8,800.875 207,070 248,908 1,066 684
Commonwealth 1,293,286 4a!.07O 282,632 1,423,726
Corn Exchange. 2,328,668 307,046 266.413 1,638.411
Dry Dock 686,164 08.605 177,318 372,764
East River 368,900 44,680 111,106 306,331
Fulton 1 608,377 384,872 218,114 1,803.340
Greenwich 502,720 388,441 141,820 580.711
Grecera' 482,96ft 51,005 49,174 531,750
Hanover 2,164,514 100.302 D'8,690 1,240,963
Irving 817,180 91,057 122,204 698,284
Imp. k Traders' 2,828,676 294,433 218,000 2.286,614
leather Manuf.. 2,024.079 726,075 311,842 1,001,678
Manhattan 5,400,234 1,745,521 88.305 5,338,042
Market 1,775,036 253.940 244,065 1,317,070
Marino 1,281,800 290,861 740,384 040,065
Man7. k Mor 1,182,321 183.807 15,967 86.5,632
Merchants' 6,306,182 1,737,026 158,610 6,049,070
Mechanics' 4,172,838 627,629 285,851 8,380,774
Mor intile 3,094 045 520,053 6 527 3,393,121
Mrtro|iohtan... 9,474,203 1,577,767 271 517 6,795,618
Merchants'Ex.. 2,303,402 215,509 138,707 1,443.720
Moch. & Trad... 1.020,906 222,900 181,690 1.003,320'
Mcch.Rkg.Ass'n 1.107,207 136,ti6l 84,102 796,260
National 2,203,044 474,489 172,103 1,370,717
Nassau 1,905,057 282 050 19 943 1,602.292
New Y'irk $0,200024 1,647,840 464,691 4,467,702
N. Y. Stat ! 4,864 118 1,077,493. 249,908 6,103,046
N. Y. Exchange. 392,936 60,185 113,931 378,574
N. Y. Gmnty.. 320 974 4-8,901 80 595 338 575
North American 1,807,570 142,058 174,388 1,487,666
North River.... 700.780 69,095 76.158 056.736
ocean 1,089.153 279 003 00,373 1,635,084
Oriental 604,353 95.034 133,938 637,547
i'ark 9,176,132 2,797,098 357,702 IB,794.008
I'aciQc 1,287,541 171,180 105,438 1,148,767
I'eople's 761,830 99,203 91,176 691,222
I'henix 4,120,733 646,608 77,650 2,841.070
Republic 4,557,627 1,242,758 281,345 4,033,567
St. Nicholas.... 1,601.108 113,214 1 75,213 079,448
Seveulh Ward.. 1,285,304 310,120 102,337 1,122,320
Shoe St Leather. 3,150,060 292,066 407,134 2,230,079
Tradesmen's.... 2,069,738 180,664 215,702 1,585,278
Union 3,342,003 1,479,338 220,266 2,792,016
Total $149,768,293 33,064,5759,244,963 132,427,178
CITY COMAUBRCIAIe REPORT,
Monday, July 28?6 P. M.
Asiim ?The market was steady and prices firmer, with
sates of pots at $6 81X> while pearls were quiet at
$6 75.
Bkkadbtufts.?Flour?The market was less buoyant
and active, and closed at a decline of 6c. per bbl. Tho
chief soles making were to the West and Eastern trade.
The sales embraced about 16,000 hbls., closing within the
following raugo of prices;?
Superfine State $4 80 n 6 10
Extra State 5 25 a 6 86
Superfine Western 4 80 a 6 10
Common to choice sxtra Western 5 26 a 6 26
Canadian 6 26 a 6 2$
Southern mixed to good superfine 6 34 a 6 00
Extra do 0 06 a T 00
Good to choice family do 7 00 a 780
Rye flour 3 00 a 42$
Corn meal, Jersey and Urandywine 3 26 a 8 60
?Canadian was In moderate request and prices favored
purchasers; the sales embraced about 000 bbls., within
the range of the above prices. Southern flour was inac
tive sud sales li. .itod, with sales of 800 bbls. at the above
quotations. Rye flour was in fair demand at the above
figures, with sales of 169 bbls. Corn meal was In limited
supply, with small sales at the above figures.
Wheat was irregular, and spring, with common qualities,
were heavy and lc. lower, while the higher grades were
firm and In good demand. The sales embraced about 125.000
bushels at $1 15 a $1 20 for Milwaukee ciub,$l 21 a$l 28
for amber do. ,$125 for inferior white Ohio. $187 a
$1 30 for red Westorn, $1 31 a $1 85 for amber do., $1 40
a$l 48 for white Michigan, $1 14 afl 10 for Racine
spring and $1 12 a $117 for Chicago do. Corn was heavy
and about le. per bushel lower, while the sales footed up
about 76,000 bushels at 60c. a 623. for heated, 68c. a 660.
for Eastern mixed and at 50c. for do. in shipping order.
Rye was Arm and In light supply, with small sales at OOe.
ror Western, 82c. a 83c. for Jersey and 84c. n 86c. for
Slate. Oats were lc. per bushel lower, with salee of
Western and Canadian at 46c. a 47c. nnd State at 47 Xc.
a 48c. Barley and barley malt were quiet and nominal.
Comm.?The market was qniet but firm, while anion
were limited.
Cotton.?The market was quiet and priees unsettled.
The views of sellers and buyers ware so wide apart an to
check transactions. Bancs there was scarcely enough
doing to afford a reliable criterion of prices. The salee
were confined to about 100 bales, In small lots, within tbn
range of about 46c a 40c. for middling uplands.
Fxnmnrs were firm for grain. To Liverpool, about
1 nwi'iiin wwiw uiui av> gium. iw mtui j?wi, wwvut
60,000 bushels of wheat were taken at 12X<1. a 18d., In
bulk and in ship's bags, and 3,000 bbls. of flour
at 3s. 3d. a 3s. 6d., dead weight was at 35s. To London
wheat ?h engaged at 14(1., and 8 000 gallons oil war* *??
gaged at 45s. To Glasgow 7,0U0 bush*la wheat w*r* aa
gaged at 13X<1., iu bulk and ship's bags, 38,000 bush*I?
corn at 12d . in bulk, and 1,000 bbls. flour at 4s. To Bris
tol 7.000 bushels wheat, in ship's bags at 18X4. A.
British bark lience to direct Irish port, with 34,000
bushels wheat, 13d. in bulk. A ship was engaged for Lon
donderry at p. t. A Prussian vessel, with 18,000 btnhsls
wheat, Tor a direct |K>rt in Ireland at 14d. Kates for wheal
for Cork and a market wore at I4d. a 14d)?d , In bags.
Hat was steady and In fair demand, with sales for
shipping at 50c. a 56c.. and Tor city use at 80c a 85e
MOLAents ?Sales of 60 hhds. Porte Rico were made at
43c , 84 do. St. Croix at 43c., and 876 hhds., 50 tierces
and 67 bbls. Cuba muscovado at 34c.
Naval Storks.?Spirits turpentine was scaros and Arm,
with small pales reportsd at $1 92 X a f 1 95. Common
rutin was higher, and hi inly held at f 13 50 a <14 per 380
pounds. Tar was nearly exhausted and prices nominal
at high figmos.
Phovl?ioxh.?Pork?The market was Isss buoyant
and active. The SalM embraced 700 bbls. at
<10 76 a $10 87 X lor mess and at $8 75 a <8 87',' for
prime. Beef was firm, with sales of 200 bbls. at $13 50
a 814 for pla in mess, $14 26 a $15 for extra do. B ef
hams were unchanged. Small salhe were reported at
$1C 60 for choice. Cut meats wers Arm, with sale i of
250 packagi sat 6%c. a 6%c. for bams and l){c. a 4Xc.
for sheuklsrs. Lard was in steady rsquset and prlcss
Arm, with sales of 760 packages at 8X?- * 9X?- Butter
was steady at lrto. a lSu. for good to choice State and at
18c a 14c. for Ohio. Cheese was unchanged.
Si'CAits were firm and ealea active, which embraced
about 2,800 hhds , Included in which were 420 New Or
leans by auction at 9-llc.-a 11 -6?c. A small: sale of clari
fied do. at privet# sale at 12r. The remainder consisted
chiefly of Cabas, mostly within the range of 8Xc. a 8 Xo.
for fair refining goods, and at 8Jfc. a 9c. a 9xc. for fair
to good and ehoica qualities.
Tallow wi s Arm, with sales of city at He. a 11X??
while the Butchers' Association demanded 11c.
Whiskxt ?Sales 700 bbls at 28o. a 28X"- for State, and
28 ),'c a 28*. for Westarn.
PIlANCIAb.
AUGUST BELMONT A CO., BANK.EMS, NO. 50 WAUb
St., Issue letters of credit to travellers, available In all
parte of the world through Messrs. Rothsektld, of Parts, Lon
don, Kranktort, Vienna, Naples, and their coriespondenls.
Army and navy pay and claim ofkicb.-ab.
rent* of Pay. Bounty, Pensions and recruiting Ex
pauses. JOHN B. MURRAY, Army and Navy Banker,
39 Naasau street, N. Y? apposite Pom odlae.
American oold and silver coin bought
the highest rates hy JOHN IIOOPE, Banker, No.. 2rA
Broadway, comer of Chamiiera street.
CAUFORNIA STATE AND SAN FRANCISCO CJTT
Interest Coupon* purrtuwd at lowest current rates, bjr
Dl'Ni'vN, SHERMAN A CO.,
Banker*, corner of Pine use Nsasa.i street!. New York.
APITALI8TS WANTED?TO LQAN MONEY FOE
short periods an good aecmity, and to discount baSR
ness biit* at moderate ran*. Address Money, bex 158 tlwrald
oBee.
Dividend, -new york..fitly 16.185$.-the board
of Directors ot the E.uit Klver Insurance Company
have thi* day dec aredn dividend of five per ren', payable
on demand. THUS. PALMER, Secretary.
NEW Yf RE FLOAT! NO DRY DO' K COMPANY, 854
South Street, N. Y? July 23, 1851 ?A qiuyterly divi
dend of thrM (8) per cent has been deslared, i arable on de.
m?nd. H. V MASON, Be rrUrv.
New vork and harlbm railkoabo'Qmpany.?
Tree-iuer'* ofllee, corner of Ksurth .weaue and Twen
ty <Vxth street, New York, duly ',81, 1S?2. ?latere*: coo|-ane
of The second mortgage bond* willbe paid m an I after Au
(jv'.*t 1, ?t the treaaurer's oiilre. W. 11. URBASON, Trees,
FFICK OF THE ERIE RAILWAY COMPANY, NEW
_ York, July 21.18C2 ?The holdeu ot the eertUrat"* ot
I) A Gregory and J. (1. B, IXivtn, true tee a nr - htteby tiotk
lied thai on tnd after the In daTol August next payment
will be made at Hi" odiee of the Treasurer, In Erie p! ice, at
the coupons or thn fifth mortgage bonds, represented b?
add 'ortlQcatee with iutere?t from May I. 1*1!, to An,est I,
1852. E. N. OTIS Srcri tary.
POHTAOF. STAMPS FOR HALE?AT THE OFFICE OP
the New York enroll dated Stage CqmperiV, H'OaR.
v?v. ceraet; M Thlrtv-nlMh attest
0

xml | txt