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Npeech of Hon. 11. 6. Stebbins.
Mr. Clteae'a System Defended by a Democrat. The able speefti of Mr. Henry G' Stcb bins, made lately in the House of Repre sentatives, has created much sensation among tha opponents of the Government. Mr. Stebbins is a leading banker of New York, president of the Board of Brokers, and is withal a Democrat. He has there fore unusual claims to be heard by all par ties. His speech js an eloquent and un answerable defence of the Government credit against its invidious assailants, chief of whom is Mr. Fernando Wood. Mr. Stebbins, it will be seen, based his argu ment upon fact and truth, and not upon speculation, taking for his text the record ed opinions of the Secretary of the Treas ury, and opposing tliern to the false statc ment of Wood and others.— Pittsburgh Gazette. "Mr. Chase's avowed and recorded opin ions are, that sufficient circulation has been provided—that it cannot he increased ex cept at the hazard of svift destrue ion to the whole system— that no change n:hat ever, limiting or increasing the quantity <J circulating medium, which in four hundred mil/ions, should be considered for one mo ment." Mr. Stebbins further read from Mr. Chase's report: " Page 8 presents an estimate of the condition of the public finances up to the Ist of July. 1804. and the estimated total debt up to the Ist of July. 180.V On July Ist. 1804, that debt will be' 81.080,- 958,041, of which 8400,000,000 is cur rency. On the Ist of July, 1805. it will be 82,231,935,190, of which 8 100,000,- 000 will still be necessary. Deducting this currency from th« debt, the funJed debt of the United States will, in July. 1865, be $1,831,935,190. I class all but the 8400,000.000 legal tender as funded debt, and I assume that the extreme limit of this kind of mortfcy ha 3 be'cn reached —that it will never te exceeded." Acorre°poudentof the Tribuue describes the speech as follows : " The orator, practically familiar with bauking. and knowing man's ways with money, and his passion for interest and weakness for coupons, demonstrated this pr< Position in the clearest manner. He, showed that the 8100,000,000 leiral ten der 5 per cent, was, the funded debt, • merchantable commodity, partaking of the character of the English exchequer bill—rising and fhlling in price with the augmentation of interest—floating as cur rency a few value of money, increasing in ▼alue daily with the days after being is sued, but presently absorded and gone from the market, not to reappear until ['re sented for payment, on maturity. In the Bamc manner he showed that the debt cer tificates were not "currency"—that they are bought and sold for investment and as marketable commodities, and occupy pre cisely the same relation to capital that the promissory note occupies. The loan he next showed to be like any other funded debt, and when he concluded this branch of his triumphant argument with the words: " And so, Mr. Speaker, out of sixteen ! hundred millions of debt, thus far created, i bat four hundred millions is currency,'' ; the assent and faith of the House follow c.lhim, and the Copperheads shrunk back in their chairs They sunk deeper back under his manly rebuke of the arguments and statements they had resorted to with deliberately malicious purpose of swelling tlTe current of improvident speculations —of weakening still more the public con fidence—of depreciating still more the public credit—of pushing up still higher the price of the precious metals—of in creasing to a still greatcrdegrec the neces sities of the Government, and in the same proportion the burdens of a people alrea dy staggering under their load of bloody sacrifices, great anxieties'and expense*, and attempting to shrivel the war arm of the country with predictions of national bankruptcy and repudiation, lie said : " Sir, such predictions and statements cannot be made in this House without damage to the public credit and injury to private interests. Nor can they be made without hurtful influence on the hundreds of thousands of soldiei sin the field, fat away from their homes and in the midst of enemies. They look to Congress to build up the national credit, to strengthen it if it is endangered, and to fortify it where it needs fortification. They wish to feel ample supplies of men and money, until they can terminate the war Successfully and honorably. 1 sympathize with these soldiers. With all my object ions to the present financial system of the country, I feel it my duty to sustain it till the war is over. Amd 1 think, sir. that it is the duty of every man in this House to 'be zealous avid industrious in his labor to inspire the public with confidence in Mr. Chase's financial system, and to enable the Government to negotiate its loans and meet with promptitude its obligations." Had there been holes in the neighbor hood of Fernando Wood's seat, numerous chairs had been vacated under the ring of these Democratic words, vacated with un tlultatory haste, and hisses of leave tak- mg. * The oratorthen rose with his theme,aDd treated paper mjney like a statesman-as well as a banker. He said : • " I am taught by history that great wars have always been carried on with paper •Moey. My judgment and my experience teach this country cannot hope to be an exception to this rule. I therefore * do not propose to discuss the system of per money, nor to point out its tions. I desire to see nothing but the great facts that weare in the midst of civ il war—that men and money are essential to its prosecution—that the life of the na tion must be saved—the honor of our arms maintained—the integrity of the United States preserved—the authority of the Federal Government vindicated. A finan cial system, the offspring of this great ne cessity, baa grown up. It has been in op eration for the past three years. It is in terwoven through every part of our indus trial system. We eannotabolish it if we would; we ought not to abolish it if we could. We must wait for peace to pre vail before we undertake to pull down the structufe, and build in its place another. x To undermine and destroy it now. would be to burv the nation under its Yuinß." Mr. Stebbins next indorsed Mr. Chase's national banking scheme as calculated to strengthen the national credit, to provide a mode and means of selling the Govern ment debts in considerable quantities, and to prepare the way for resumption of spe cie payments and the gradual displace ment of the legal tender. And the re sumption of specie payments, he believed, would take place through the influence of the national banking law without any of the disorders and convulsions which always heretofore have fallowed great financial changes. He uttered his faith in the funded American debt, and based the faith of the people in the bonds of the United, States with economical truth as well as rhetorical beauty ; the plowed fields and the homesteads between the Atlantic and the Missouri, on the public domain of a thousand million of square mile .vest of the Missouri; on its inexhaustible miner als of coal, iron, copper, silver and gold ; on its l'aeific Railroad to traverse and cut through this bed of eternal w»;f!th, and to tap the commerce of the Pacilic world; on the enterprise and intelligence of the free race that will build this road, mine that wealth, and draw off that commerce. . " Sir," said the orator, ' the people be lieve in this basis of their country's debt. I believe in it. I know the great economic al truth. that while from the year 1801 to 1801 the population of France increased but 37 per cent., and that of Prussia in creased but 70 percent., and that of Kng>- land 121 per cent. 1 know, too, from the statistics of the increase of the national wealth of America fir the last tch years, that in 1870 the middle Atlantic carrying ami manufacturing and the Western t'ood | riducing Stites will surely have thirty five thousand millionsof taxable property, and in 1880 eighty thousand millions! '1 Sir, the four hundred millions of le gal tender divided equally among these to be paid by them out of their in creased wealth from 1850 to 1800 alone, would have been extinguished in the first six months of 1800 and the balance of increase of wealth remaining on hand be the enormous sum of 87,500,000,000. — Measured in connection with the nation's ability to pay this legal tender debt, sir, is wholly unimportant. Have not twenty five mill ons of Americans endorsed this paper, as well as all the debt of the United States; and is not this endorsement guar anteed by forty-two millions of Americans thinking and laboring in 1870; and is not their guarranty underwritten by the fity six millions of Americans of the year 1870. backed up by their accumulated wealth of 882,000,000,000?" Coming to the measure before the House, the gold bill, he said, with a log ical impressiveness which was irresisti ble : " If this four hundred millions of cur rency were secured to be paid to morrow; if the nation could see it begin to die and disappear by the establishment of a sink ingfuudof 10 per cent., per annum.which would absorb it all in ten years; if by the legislative sanction the Secretary should direct the burning of 8100,000 of it a day, until the whole was destroyed, do you imagine you would hear anything more of rises in gold ? Sir, those measures would be the death of the speculators on the seaboard, and the nation would rise above their fears and anxieties, full of fresh power and hope. The passage of this bill to authorize the Secretary of the Treasu ry to sell from time to time the surplus gold in the Treasury would, in niv lins ion, have a correspondingeffect, and tend prodigiously to the reduc:ion of the ex penses of the Government." Mr. Stebliins then unveiled and attaek eu the artifices by which the people's mon ey i:< depreciated in the great cities. His speech concluded as follows : Suppose, s'r, some vast theatre, crowd ed with thousands of human beings, ab sorbed in a dramatic spectacle; and sup pose. sir, in the uiidst of their happy ab sorption two, three, or more voice# should suddenly raise the appalling cry of fire, and rush toward the narrow entrance for the street? Does it need any prophecy to foretell the fearful disaster that would en sue while this frenzied •multitude dashed at the contracted outlets, and through tho Crowded corridors? Hundreds might be crushed, limbs be broken, numbers suffo cated, while thousands might be robbed by the brigands who had perpetrated the ca lam ty for the purpose of plunder. Sir. will any one undertake to say that the building is really on fire because of the infuriated cry -of fire? No, sir! And sir. thii is precisely the (jasc of the people of this country. " During the past three years disloyal voices have kept crying fire against the national .finances, and there have been con vulsive movements to escape the fearful calamities said to threaten the paper sys tem, and which is finally to be entirely de molished. And while this cry continues, and every imaginable auxiliary is used to magnetize the nation into such belief, and while the masses are rushing out of ilie Federal building in mad disorder, a svs tem of pillage has been going forward that defies description, and human ingenuity is taxed to its utmost to keep up the alarm, that the spoils of the villainy may aug ment, and the opportunity for plunder be protractd yet awhile longer. Sir. it is our solemn duty to assist in correcting this scandalous state of things. The first step that we are bound to take is to relieve the Government from the fearful position of being a hoarder of gold. It cannot afford to be an instrument in the hands of its enemies, a participator in the depreciation of its currency, a confederate with the speculators of the seabord. * ''Sir, I repeat with all the. emphasis I am capable of expressing, that in advoca ting every measure for strengthening our financial system; by encouraging the Sec retary of the Treasury to persevere in car rying out the ideas distinctly presented in his aunual report; bv pointing out to the extent of my huiiAle ability the way to roll back the current that has set in such irresistible force against the public credit; by pointing out the vast resources of our country, and showing that an issue of $400,000,000 of currency is only a substi tute for the gold and bank circulation it has displaced, I fulfil my duty as a Demo cratic representative." JS?" When a lady, flashing for a lover, cunningly adjusts her features for the purpose, each oftbom is at an acute angle. (The gjtmmrau Cittern. THOMAS ROBINSON, } CYRUS E. ANDERSON, | JiClltors - M. W. NPli.ill, Publisher. BUTLER PA. WE I>>"i:SI>AV::MAK. 1» ls«|. fit)•"Liberty and Union. Now and Forever, One and'n»eptfrable."—D. Webster. FOR PRESIDENT IN 1804 : ABHAIIAM LIICOLy. Who can furnish us for publication, a complete list of the field and line officers of the grand Copperhead army, recently organized for the defense of the Herald, against the expected attack of Lincoln's minions, as they call them ;of course M'Clellan WH C >mm in ler in chief, but who were his subordinates? Think they must have been principally composed of the "working members of the late Demo cratic convention—the chairman of their committee on resolutions for instauce, and his next friend, the "armistic" man. The Election Again. We hope our friends will bear in mind that Friday next, is the day to choose election officers, to say nothing of anything else. Don't rely on your former majori ties in our close districts to your tick et; recollect that about fourTiundred re cruits have entered the service this eouuty. seven-eighths of whom were Re publicans ; we can only overcome this loss by more vigilance. Let us have a full poll and all will be well. A (»oo<i Joker. The man who quits the American be cause it is too personal, and subscribes for tlie Herald. W hat dues the Citizen think of such a "Republican?" That man's head would glisten in the sunshine.— American. The "CiTlzf.N thinks this Republican is no less a personage than the Editor of the Herald, himself, who has taken this mode of puffing himself—at any rate, the man who could read that paper carefully, for eighteen months and could not sec any thing ill it but patriotism of the first water, if he is not a Copperhead, ought to he one. Verily. We would remark for the benefit of the Citizen and otheis, that our article in rela tion to the threatened destruction of our office, was published while the veteran soldiers were yet in our midst—they wcie not offended by it. however. The article I offended such characters as «the editor of , I ho Citizen.— Herald. The article referred to above, was pub lished in the Herald of.the twenty-fourth of February; tho very day these brave veterans had to teport at Ilarrisburg.— The entertainment given to them in this, place, was on Thursday, the eighteenth —some of the boys left the next day, quite a number 011 Saturday, but cer tainly all had gone on Wednesday the 24th, the duy they were to report at Ilarrisburg as already stated. What say the soldiers themselves? were they here on the 24th of February? • To Our lH'iiiocrsilit' Patrons. Previous to our first issue of the Citi zen. we called on most of the business ftien of this place, and inquired of them wheth er they wished to become readers of our paper. -Most of them responded affirma tively. Their names were accordingly put down in our subscription list. Two or three Democratic readers have recently complained of the partizan character of our paper. For their benefit, we just say, that the Citizen was always intended as a party paper. It is the determination of its editors, however, to avoid all personali ties—that is, to '• avoid assailing private character." In social life, as in business, we wish to know no politics. We have had favorable opportunities to deviate from this rule; but we don't believe our cause will suffer materially by avoiding them. Should the editor of the Herald continue his method of assailing private character, as he seems disposed to, and should the people manifest a preference for that m9th od of conducting a paper, we may take into consideration, at some future day, the propriety of running a small paper on that style. We have in our office a small press upon which the Trump , of former days, was published, which would be very con venient for au enterprise of that kind.— For the present, however, we will forbear to assail private character, in the manage ment of the political department of- our paper. But we wish to have it distinctly understood, that this is as far as we can go at present. We believe that the poli cy of the Democratic party, for the last fifteen years, has had a tendency to weak eu the bonds of union that bound us to gether. We believe that the Organiza tion at last became corrupt and disloyal— that is. its organism, as seen in its conven tions, its caucuses, its official acts in Con gress ; that it is therefore wholly responsi ble for our present deplorable position ; ami believing thus, we mean, on all fitting occasions, to express our sentiments, and refer to the proof of what we say. If this course should be distasteful to any, they will be at liberty to withdraw patronage from us. We feel much obliged to any Democrat who, from good will to us personally, or from any other cause, has become a reader of our papftr, but it is too much for us to expect men who believe such men as Sey mour and Vallandigham to be patriots, to have patience enough to read the Citizen. I'or the benefit of all such, therefore, we wish to say, that if they have became readers of our paper underany misappre hension as to its political character, they can call at our office and notify us of the I fact, and we will, in all gooil nature erase their names from our subscription list, feel ing as well towards them in the future as ever. A canvass is about to open which we believe to be the most momentous ever entered upon in this country. One involv ing no less than the unity o# the Govern ment. In this canvass we expect, in our humble way, to take an active part, un- j trammeled by any personal influences; hav- | ing only in view our duty'toour countrv 1 and to mankind; and our exertions, weak j as they may be, shall be in behalf of the j unity of the one, and the elevation of the other. , The Homo Guards. The lleruld seems-still to be uneasy for j its safety, and is therefore making great j efforts to stir up its •" Democratic fuiends" | in its 'behalf. It would fain have the peo ple believe that the American and Citizen, ! are both laboring to bring about its des- j traction. The American can speak for itself, for our pais, nothing is farther from our desire, than to see the property of that establishment injured- For this reason we avoided saying a word 011 the subject while the veterans were at home, and only referred to it afterwards,because we tho't it was both cowardly and mean in it to re fer to the matter as it did, after the boys had returned to duty. Certainly if any journal in this place has beefi the means of'endangering the safety of private prop erty, it is the Herald , who thus meanly announced that it had put its property in a state of defense. But whatever may have been its peril, we think it ought f# feel safe now, as the Democratic Conven tion ha/e resolved themselves into a home guard for its defense. Its continued ner vousness brings to mind that passage of Scripture, which says: " The wicked.(l6e j wheu 110 man pursueth." Mr. Clince'st Letter. NEW YORK, March 10.—The Post pub lishes the following letter: WASHINGTON, March 5, 1864. My Dear Sir: fn reply to a friendly letter from you, I wrote you briefly not, long ago about the wishes expressed by many that my nauie might be favorably regarded by the people in their next choice of a President, and closed by say ing that should our friends in Ohio mani fest a preference for another, I should ac cept their decision with the ready acqui escence due from one"who has been al ready trusted and honored by them be yond merit or expectation. The recent action of the Union membersof our Leg islature indicates such a preference, and it becomes any duty therefore, and I count it more a privilege than a duty, to ask that no further consideration be given to my name. It was never more important than now that all our efforts and all our ener gies should be devoted to (he suppression of the rebellion and the restoration of order and prosperity TO the solid and sure foundation of fteedpra and impartial jus tice, and earnestly urge all with whom my counsels may have weight, to allow noth ing to divide them while this great work, in comparison with which persons and even parties arc nothing, remains nnac cjmplishc I. Cordially your friend, S. P. CHASE. To-lion. Jas. C. Ilall, Senate Chamber. 6a) The Democrats nre rapidly taking a stand upon the questions of the tlay •professedly in harmony with the proceed ings of tlie great .Union party of the country. The motive is obvious. The last speciuiPn we clip from the World. — Spcaking<jjf the special election in New York on Tuesday to decide upon the con stitutional amendment allowing soldiers to vote, the editor uses language which reads like a paragraph of the Tribune :-r- " OI K CONSTITUTIONAL ELECTION TO DAY.—The citizens of New York who have not gone to the war arc (titled upon to vote to-day whether their fellow citi zens who have gone to the war shall have •the right to vote as New Yorkers while absent in the field. The proposition cov ers an amendment to the constitution, ;pd if the people say so the constitution will be so amended. We presume that the question upon this vote will be, as it ought to be. uearcr to a unanimous vote tjian that of any election in the history of the State; but the stronger the popular en dorsement of our brave soldiers the bet ter. Let them have a rousing vote." •By the way, the Democracy, not satis fied with stealing our principles, have adopted our method of disseminatingthem. They now have a riv#j of Miss Dickinson in tfte person of Miss Webb, the actress. She recently made her debut in Brooklyn, with S. S. Cox as usher. llow long is' it since the mqre mention of a '• woman or ator" would have given a MeCleilan Dem ocrat the.hysterics ?— Pitts. Gazette. A skirmish took place yesterday, two miles this aide of Suffolk, between the enemy and three companies of our of our colored cavalry. The rebel loss was twenty-five men; our loss was ten in killed. Our forces entered Suffolk this morning after a brief struggle, and we now hold the place. The Cioltl 1)111. We clip the following intelligence from the Pittsburgh Gazette of the 14th inst., from which it will be seen thatthe Sen ate of the U*nitsd States has passed the House bill with an important amendment, giving the Secretary power to sell the sur plus gold in open market. • "This bill, which had previously passed the House, has passed the Senate with an amendment. The amendment prjvides that the Secretarv of the Treasurg mty sell the surplus gold in .market, but, of course, leaves to his discretion the pro priety of doing so. The House bill sim ply gave the Secretary authority to antic ipate the interest 011 Government bonds when there should be a .surplus of gold in the Treasury. The effect of the passage of this bill, which wassubstituted for Mr. Stebbins' bill (now practically adopted by the Senate) was to send gold up to sixty nine in Wall street. The gamblers thus proved that the bill passed by the House was in their interest , and would not relieve the Government and,the people. This ypened the eyes of the Senate, and the House bill was amended as we have stat ed. The House is expected to reverse its own action and adopt the amendment. It is argued that, if power be given to Secretary Chase to sell gold in the New York market, two desirable objects can be attained—lst, be can prevent the gamblers from widening still further the relative values of gold and paper money ; and, 2d, he can at any t.uie, when tli'ere is more gold in (he Treasury than the wants of the Government require, obtain a supply of greenbacks at advantageous rates and thus add the gold prem uui to the other receipts of the Treasury. The bill isa properone. It in effect gives to Secretiry ChaSe the power to ' bull" greenbacks and control the price of gold. To show that this bill was needed to prevent further depreciation in our cur rency, Senator Sherman stated the other day that the gold now in the Treasury j amounted to over $19,00U,00J, and that tit i the present rate of receipts there will be j in the Treasury. July 1,. $11,742,651 in gold. Of this enormous sum, but $20.- 849,700 will be due and payable on that | date, and as the banks of New York hold | $23,175,1)00 in gold, more than $40,000,-1 000 will be lioalded up on July 1, unless j the power to sell is granted. With $20,- 000,000 locked up in the vaults of the i Treasury, and the same amount retained in the New York banks, the gold gamblers would have tuatters thcirowu way. Spec ulation would bo king. But, give Secre tary Chase the power to throw his $20,- 000,000 on the market, and speculation is at once dethroned. The mere knowledge of the fact that he can control the gold market the gamblers from pushing up gold. The country will have oatiso to rejoice in the passageof theSen ate gold bill." # Tlie Lntc Colonel Dalilgrcn. Though Colonel LMrie Dahlgren was but twenty-two years old at the time of his death, he had already seen considera ble service. Before the war he held a position in the navy, and even after the attack oil Sumpter was offered great in ducements to enter the rebel service. Of •course, these overtures were unheeded, and the young man entered the Federal army as aid-de-camp. lie served with General Saxton under Fremont, and par ticipated in the battle of Cross-Keys, and after Fremont was relieved from his com mand was transferred to the staff of Gen. Sigel. by whfcm he was selected for the dangerous duty'of scouting with cavalry for bushwackers who,'led by White and .Mosby, then infested northern Virginia. On one of these expeditions Captain Dahl • gren made a bold dash into Fredericks butg, defeating a band of rebels in the streets. Sigel was relieved of his command too and Uahlgren was once more transferred to the staff of General Hooker, then com manding the army of tho Potomac. At 1 the battle of Chancellorsvilie he fought ] well, and during the rebel invasion of 1803 j performed anamberof exploits as success ful as they were during. After the bat j tie of Gettysburg, during a charge into I lingers town, be was wounded.in the right foot <fhich Tas afterwards amputated. A | lew months ago the President appointed Captain I 'ablgrcn Colonel of the Third ; I'nitedStates Yoluntecrcavaliy,lyid while | the regiment was organizing be went to Charleston to visit his father, the Au;::iral. | Returning through Wash ngtou theyoung Colonel heard of Kilpatrick's propo.-cil raid and participated in it—latally, as the result proved—as a volunteer. And so closed his short though brave and brilliant career.— Exchange. THE VIRGINIA CONVENTION.—ALEX ANDRIA, VA., March 10, 1 o'clock.—The following .report of the Committee 011 Emancipation wan passed at 12 o'clock to-day by the Constitutional Convention, now in session in this city. There was but one dissenting vote. One hundred guns are now beiuj: fired in honor or the event, and bells are ringing throughout the city. Mr. Watson, on Emancipation and Ed ucation, submitted the following »eport: Your .Committee on Emancipation beg IcCve to introduce the following as a part of the Constitution of Virginia, to be in serted in the same under the caption of "Slavery or Freedom." First, Slavery and involuntary servi tude except for. crime is hereby abolished and prohibited in this Sjate forever. Second, courts of competent jurisdic tion may apprentice minors of African descent on like conditions provided by law for apprenticing white children. Third, the.general assembly shall make no law establishing slavery or recognizing property in human beings. " 86?" Let Slavery take'eare of itself; and if it can't, let it take the same chan ces as all else in rebellion against the Con- 1 stitution.— Pitta. Pout, of d'h imt. Our neighbor has put his foot in it. Tie says in the same breath, " let slavery take care of itself " let it take the eame chance* as all else in rebellion"—the reb el army, included, of course—should be allows ito " take care of itself." Is the Post man in Tavor of the recognition of the Southern Confederacy ? — Pitts. fraz. War News. From Xewbern X.- CJ NEW YORK. March 10.—The steam transport Western Metropolis from £iew Orleans on the Ist, via Key West on the oth. arrived here to-night. Nricbcrnc March 7.—Everything is in readiness for the reception of the enemy in North Carolina, whose mysterious move ments are difficult to understand. A Kington correspondent of the Ra leigh Confederate in speaking of the hanging on the oth, of twenty-three cap tured soldiers, belonging to Col. Foster's command, as deserters from the rebel con-' scription, says : The prisoners were ac companied to the place of executii n by a large concourse of people and a strong military escort. They ascended the scaf fold with a firm step, and met their fate with unflinching fortitude and determina tion. .They asked for no quarters, and scornfully shunned all overtiyes of con cession on condition of returning to the Confederate service. After making their peaee with their God. they fearlessly pro-, claimed their readiness to die for their country, against which they say they have been forcibly conscripted. Such an ex hibition of loyalty to the fbig, lias never before been witnessed. The multitude was moved to tears, and openly denounc ed this cruel massacre, which is causing desertions from the Confederate service by the wholesale, arid causing indignatiou of feeling which it is feared will be un controlable. , A conscript deserter who came into the Union linesat Wash and joined the I'd North Oarolini vftlun eers, hear th s officers say that Plymouth was the first point of attack. A Union soldier who tecetitly escape 1 Goldsborj prison, informs Gen. Feck tint agi riot occurred at Ralc;gh on the occasion of the hanging of the native Union soldiers at Kingston, and that Gen. Pieketts troops from that place pa.-sed through Goldsboro with all possible des patch to quell the outbreak in that city, where the stars and stripes were conspic uously displayed and much violence and excitement prevailed. fkltefugees from the inferior bring intel geneeof the rebels garrisoning the whole I State of North Carolina for the purpose ' <>f chocking the eonvcntidb movement ] and keeping the people in subjection.— I It is reported that the rebels intend hang ing the entire number of soldiers ca[4ur- I (id by them from Colonel Frost's command I 51 in number, half of whom, have never been in the rebel service. Ira Neal, a drummer boy, 15 years o'd, who had never been in the rebel service was among the number hung. The na tive union troops have taken tlic matter into their own hands, and have given such of their officers who did approve the severe measure, an opportunity to resign, and giving warning that immediate death wil be inflicted on any officer who hereaf-» ter offers to surrender t<» the enemy or asks for any quarters. • From Sew Orleans. NEW YOUK, March 18.—Thesteamship* Morning Star, from New'Orlesins on the oth instant, via Havana on the 7th, has arrived. She brings 1,200 bales of cot ton. A part of Gen. Lee's cavalry have left New Orleans for the Red river. Gen. Sherman arrived at New Orleans on tho 2d on the gunboat Diana. His late expedition is called by himself a big raid, in the course of which lie reached a point ten miles east of Mcridau without any op position worthy of the name,and returned with 1,100 ifiules, 1,000 contrabands, 500 prisoners and a large amount of supplies. • Transports are rapidly bringing troops back from Texas. Governor Michael Mahn was inaugura ted on tho 4th with imposing ceremonies at New Orleans. Gen. Ranks delivered an address, in which he predicted the rc | ductionof the insurrection to three or four j States on tho Atlantic coast I y this sca i sou's campaign, I brate has the basis of a century, for we \ have achieved deeds, of » century in the ' past two years, and so long as the people j are faithful iHid true to themselves, so ! longiwill stand Louisiana, the first return I ing State in which every man is a free j map." All the j eoplc were in the streets dur ing the day.and there was unquestionaby j the si nearest feeding of sa sic on shown ; than on many of them .re bo stcrous day of secession uialnes in 1801. • A Hairs in I>eni;:'»rlt. NEW YORK. March lo.—'llie fo! w ing dispatches per the Australasian, con taining important news, were only receiv ed to-day : DENMARK— Copenhou/cn, Feb. 27. Denmark has expressed tlie wish to be ex cused from replying tuany proposition for a conference so long as Schleswig is not evacuated. STUTTOARD, Feb. 27. —In to-day's sit ting of the Chamber, liaron Vofl Hugel said, according to the most reliable infor mation, that a speedy termination of the war was not to be expected. Denmark was firmly resolved on oppo sing the most determined resistcnce to the claim of Austria, Prussia and the Federal diet. Herr Holder proposed that every facility be afforded to the Government to enable it by the most powerful measures, and especially by a union of the middle States, to bring the national cause to a successful issue; and further, that the discussion of the extraordinary credit of 680,000 florins be postponed until the middle State3 were seriously determined to act. The military credit was, however, granted by a vote of 65 against 15. jjgf In 1861 the Bth Ohio took with them to the field an eagle, which has followed them into all their fights, and screamed wildly above the din of battle. The brave Bth is now on a furlough, having re-enlisted, and hav ing the eagle still with theih they find no difficulty in filling qp their ranks with recruits. The noble bird has been twice wounded, and if he comes out of the contest the boys intend he shall be kept at the tajiitol at the charge of the State. Interesting Ceremony. WASHINGTON, March 9.—The Pres ittont of the United States this after noon formally presented to Major 4 General Grant his commission as Lieu tenant General. The ceremony took place in the Cabinet Chamber, in the presence of the entire Cabinet, Gen. 1 lalleck, Representative Lovejov,Gen. Ramlins, and Colonel Comstock, of Gen. Grant's staff, the son of Gen. Grant, and Mr. M'Olay, private Sec retary of the President. Gen. Grant having entered the room, the President rose and addressed him thus: "Gen. Grant, by the nation's appreciation of what you have done, and its reli ance upon you for what remains to do" in the existing great struggle, you are presented with this commission con stituting you Lieutenant General in the army of the United States. While this high honor devolves upon you, also a corresponding responsibility rests on you, as the country herein' trust you. So under God, it will sus tain you. I scarcely need to add that with what I here speak for the nation goes my own hearty personal concur rence.' To which Gen. Grant replied as follows: Mr. President: I accept the com mission with gratitude for the high honor you have conferred on mo, and with the aid of the noble armies that have fought on so many fields for our common country, it will bemy earnest endeavor not todisapoint your expectatiohs. I feel the full weight of the responsibilities now devolving upon me, and I know that if they are met it will be due to those armies, and above all to the favor of (hat Prov idence which leads both nations; and men. The President then introdnced the General to all the members of the cabinet, after which the company were seated, and about half an hour was spent in pleasant and social conversa tion. IMPORTANT POSITIONS. —TunneI Hill is thirty-one miles distant from Chattanooga and one hundred and seven miles #rom Atlanta. It is in Murray county, Ga.,wher.e themoun tains come together, forming an am phitheatre. It receives itsname from a tunnel which is 1,477 feet long, 18 feet high, and with a clear width of 18 feet. It is cut, in a great meas ure, through solid rock, and the ap proaches to it arc protected on both sides by massive masonry. Dalton is seven miles beyond Tun nel Hill, and is one hundred and ten miles by railroad from Knoxvillc. It is the county seat of Whitefield county, and was laid out in 1846. Its location is in a fertile valley,, sur rounded by mountains. Dalton con tains a steam flour asd lumber mill, and an extensive foundry. Its im portance, in a military point of view, consists in the fact that it is naturally capable of formidable defence, and is one of the angles ofa railroad trian gle whereof Chattanooga and Cleve land, Tennessee, are the other corner. The next important places south are Kingston and Home. Kingston is seventy-nine miles from Atlanta. It is a small village on the Western and Atlantic Railroad, but is impor tant as being the junction point of the Rome Branch Railroad. Rome is located twenty miles from Kings ton, a little north of west. It is the county seat of Floyd county, and is situated on several hills at the con fluence of the Etowah and Costeduula, which form the Coosa river. Steam boats run up from Mobile to Rome. There are two rolling mills and two powder mills there. WASHINGTON, March 10.—The rat ification of the treaty between the United States and* Great Britain,for the final settlement of the claims of Hudson Ray and I'ugets Sound Ag ricultural Companies, have just been exchanged. All questions• between the United States on the on.' hand, and the Hudson and Pugets Sounil Agricultural Company on the (/her, with respect to the possession, rights and claims of those companies, and of an" other British in Oregon and Wiiobington Territories are to be settled by tii»> transfer of those rights and claims to the Govern-- ment of the United State*for an ad equate money consideration, and it is agreed that the United States and her Brittanic Majesty shall within 12 months after the exchange of the rat ification of the present treaty, appoint each a commissioner for the purpose of examining and deciding upon all claims arising out of its provisions. REINFORCEMENT FOR THE ARMY,. —The NY. Evening Pout of "Wed nesday says: Tho number of soldiers daily pass ing from tmd through this city and 'harbor tow; field is constantly in creasing. Today transportation or ders have been issued from the United States Quartermaster's office in this city to sixteeh hundred soldiers, all of whom will bo on their way south to night. Careful estimates, drawn from the official returns, show that the number of men provided with means of transportation from this city by water and. by land is more than twelve hundred daily. Including tho soldiers who go forward on passes ob tained elsewhere, the weekly aggre ! gate is eight to ten thousand. 5®- Gen. Grant is in command of fop. ees which occupy a front of nearly fouir hundred miles.