The Sun. — London, England, 1869-02-01 00:00:00

THE 11 EA .17,TH OP THE 2L4 VY A Linn took wr..3 p77)11:,;7)e , ..1 on zaturclay etornin, cal 0.1 - ;stract of the health of th ;ntain. iL vt,:ztis 13ritish Navy for the twelve months ending June 30,186,3. Dr. Alexander Mackay, whose introcluctcry report is date , ' Jan. 15, EGO, states that during the period referred to th heali:h of the navy may be considered to have bee. very satisfactory. Compared with the average taken for.. period of twelve years, there was a reduction in the ratio c! cry:es entere , l on the sic!: list in the total force equal ti of alortality to the extent of 31 pz! Tllere wa3 r frrctional increase in. the ratio of inva Ai! t.!;.;:; , .: n.ltio3 were sli L ;htAy higher th,to those o! ~~,i t Lt!::!f vesFiels, ve Ir, % 1 wer, however, ti Teti (inrin•„; a pc riod of cleven year, !oy:.;1 4.lllri:ig tile Iv,.eive months i the total number (,f caws entere era C4,:"tf7, is in ti:e ratio lilt :111 rfiret ,. . 111 t lii.-Ilesl rat:, LI f;i,1;,..:-1 and Cal b.! of (;,,o .7:1; of Africa, Chilm arh: :el , min. I •o:t t. st :1;1 Cie in., ta tit': of 03 fl••• ,'lt ~,. ~~~ . I. ) ar= r Vera" Lhy rt - Kera:;•; Ivies d:stsas, in tile; var'ions classes of vessels, exhibit,, ;i; very favour:ll;le e , n;sidsraLly lowc'r than in :.tny of the rated :(1 lower thr-n in the sloops, gun-vessels, and The total nuulh2r of deaths during the year its M 3, of wilom 420 were occasioned by disel•se, and 13S by wounds, injuries, and drowning. The total death rate was 11 per I,OOJ, which is below the average rate of mortality of the total force, taken for 12 years, to the extent of 37 per 1,000. MISCELLANEOUS NEWS. AItMY AND NAVY CHANG The professional papers are full of important new.. They fully confirm our statement, which was ques tioned by the Globe, as to the withdrawal of a largo number of troops from the colonies. The Army and 2Vary Gazette says that " the withdrawal of troops from certain of our colonies in reduction of the garrisons to be maintained in them " has been de cided upon. The staff will bo Lreduced, the 4th West India Regiment disbanded, the Canadian rnd Ceylon Eiles reduced. The Broad Arrow says that the policy of concentrating the military forces of the empir3 as far as possible in the mother country was fully confirmed at Tuesday's Cabinet Council ; and as s'on as the - weather will permit, one regiment of cavalry, five of infiintry, and seven bat teries of artillery will bo wleulnwn from Nazi'_: Anieri;:a. As regar:is the army at home, the Engine r Train is to he abolished, though the evipment will be kept u;). The Milit:try Trim is I) be re,r. , ,Trinised. It is prub•Lble that the cavalry wd; b re,)r,:f.talsed sTiadron sp:tem Ili :t the grades of o,1;1 ensign wi.l ho ed, ;yid siibaltcras largely Tiiii•••- l:l ~l~iii nunii.cr of lE:ye re en by prmeti rcee:ve cern 73.Fsi U9I 7 VVIt Vie st. w:11 be ; aryl a large horscm :7t.1 ArfiEcry (ii 11 e c!; 1).1 - !_t(qT,'; v 4:ff. cclor: is 4 ,0 1).. ts'; the War (Ai ce, important questions in srtillery an eii;,r 7 . - ncer matti.rs will be referred, inJead of tlie decisiens being I,3ft to the indivilnri he,:ds of dep..lrtments. The Conne:l will consist of Lori Northbrook, Captain - Vivian, Sir 11. Stot-La, and. Colonel .I!ilward. The changes in the navy are no 1 ss serious ana organic. I .Mr. Childeis's acheme for reducin ,, e.7;:pen diture is said to be ail bat comy lete. and will embrace the following changes :—The abolition of the office of admirals and captains superintendent of the dock yards from March :11 ; the abolition of all unimpor tant foreign commands, and the ruhstitution of flying fladrons under rear-admir,d3 ; and, 11.7 cording to the United Sem:cc Gazete, the abolition of the _Royal Naval Reserve. There are to be changes also tire administrative departments. Mr. Pecby will, it is said, retire from the post of Account.mt-General. Mr. WiritEn has already retired. Lord Camperdown wall probably have a seat at the Board of Admiralty, is ithout, pay, in order that he may carry on certain investigations into the victuall:ng department. When the new patent is iss7.ed he will take the place of Mr. Trevcly:n (are we to infer that Mr. Tre•. - elyan's speech about the Duke of Cambridge has led to his retirement from office It is rumoured that Admiral Frummord w:ll return to the Board, and. there is much eke in the way of speculation which we need nryt repeat. THE VOL UNTT "II ippophylaa " 11 . rit s :in to the Times tin the subject of the Volunteers, ani r2fers to the ra:s.:er of Colonel Loyd Lindsay. He admits that the Colonel is well qualified to plead the cause of the volunteers, but does not consider that he has refutA the statement that the volunteers enter the category of paid soldiers if they accept any payment for their services. He thin' s that if the money is to be invested for military pur poses at all, it will be more profitable to invest it in a s:nall number of regrlar soldiers than in a larger proportion of paid volunteers. " Hippophyho;. " also disagrees witle Colonel Lindsay about the para ph ern olia which are required for a defensive force, and draws this deduction from the Colonel's letter, that the volunteers themselves recognise the difference betv - .een volanteerin; and soldierhig to be the same as tir.t between;. .piemc and a eamp-,ign. lie concludes his remarks wth the assertion that the ta:;payers, who are already over weighted, object to give more money in support of such picnics, even when accompanied with competi tive sharpshooting for Mllg3 and vases. They had rather that the. volunteers should be supported on a voluntary bas:s, as their name they should be. THE DRADI•'ORD rETIT:ox. Overend, Guriiek, and Co. ceased in Februarfl, .and that, thorgh the .worlis were carried on in the name of C. J. Mare and Co. to the end of that year, he had nothing whatever to do with them. He regrets that Mr. Chapman permitted himself to use the word " depredations " in connection with him (Mr. Mare), and utterly repudiates the justice of any such expres sion. In conclusion, he states that the property handed over to Overend, Gutney, and Co. in 1862 was full value for the sums they had lent upon it. The other communication is from Mr. Stefanos Xenos, who simply says that his answer will be in the hands of the public in a few days, when the world will be able to judge who committed the " depredations." The plot appears to be more complicated than ever. TRADE AND FLNANff. The discreditable disclosures in reference to the collapse of Overend,- Gurney, and Co. (Limited) will certainly tend to prolong the period of distrust and to postpone the rc:Lurn of conadence. It would be out of plate to pass an m upon any part of the case now that the whole affair will he investigated before a proper "We cannot but remark, however, the dillorablc state of commercial morality which the evidence Such, persons as Mr. E. W. Edwards will found in their proper atmosphere, but it is at pri; , ln3 of the highest credit were well of aTzt:rs at the tune of the ,t , r,..st of the of l firm to the limited tril;unal. s ,fer The " Corner 'Luse" wrs hell in gr^f(t es!:con, and no adverse rumour.; werc able to affect its currency ; and, notwithstanding the frequent warnings given, the commercial weEd still trusted to ti!eir leading house. It now appears that the " Corner House" was the receptacle for all the bad and doubtful bills of London, and we may presume that a proportionate rate of r]iscount, was charged. The very fact of the directors paving paid FR) large a sum es £20,000 to Mr. Edwards convinces us that they were k - nowingly acting in contradic t on to the !a wB, and that they were aware that the information gleaned by Mr. Edwards as oMc:al assignee of Court of Bankruptcy should not have been made use of in private elpaeity. Ti_:; supply of capital in the discount market is on the increase, owing to the payment of the dividends. There is also a larger quantity of bullion on passage to this From Austialia we have a,dvices of shiprnents to the extent of - J:800,0-M, while the steamers from New York are bringing about 1',310,033 on English account. Some relief, however, may be obtained by the introduction of the new Turkish Loan, oF, and by the issue of the new shares of the Great Ind;an Peninsula Baili,vay. There is also an «J. count of 1:f:l,C00,000 on account of the Intereolonial 'Railway of Canada still outstanding. The union of England and Australia by means .ot• telegraphic cable bids soon to become an accomplished fact. Yesterday the prospectus of the British and Indian Submarine Telegraph Company (Limited) was issued, hick is to lay a line direct from f. The prospectus of a competing ine is understood to be in- course of preparation, and may be issued to night. It appears strange that two companies should ooze at one and the same time, to ci.u tend for the telegraphic traffic to the East, but the commercial world have every reason to congratulate theniel-,•es on the result. Assoon as the linesare completed to Bombay, it is understood to be the intention of the directors to extend the communication to Anstraha and New Zealand. The latter colonies have for some time been labouring under the want of more country. .110 W tO 1011_c ;Icit Sac z to Bornb:i I;ost, exif_.t.litiou3 means of communication with the mother country, which these companies will - t yro. 3aLly supply. There is a great advantage attending the nr , i. ,,, scd lines. They will, with Vie exception of the Frawee, \v“rlie,l entirely by - .1-111,1i51.1 1!1,3 piT5; , 2,1; telegrivdh to India—kvi,;6 I,;ts it r is ?)' :tl.ci :tll:,, tWtriLi IjCYS i• 1 11w h of foreign opera:ors, ow:ng to tlie;:: i a Ili al w i lls, by :Intl to the it einerotit s:ati(ms and rt, translations releirol, very little relianc:. Paced in the nr•siages uceived. Flom the.,A; ht - )wevr..r, that portion uf tilt line wi)iell iss C e]'~:~ frc, 7.: F. ussendom, 01. ti: s 1 3of the Peru an Gulf, t,) In,lia—r,houti be re ve.:, t'..e staff there has always 'droved an efliciebt 3 v y;i Ve of inte:6 - §t t.) - notice in t;:ada salt ili.h , liGwever, has prtsented some very important fez:dlr:7, of late. Owing to the extravagance of fashion, high.class European silks were constantly on the advance in the early part of ISGS ; while Asiatic and inferior deseriptiw;s, being »egleet , A, retrograded in value t , , an alines; similar extent. Tl,c high rates current naturally restricted c.,ot-nalption, and ae quotations !: , rave way until the whole advane,.e ol_ined was lost. We fear that importers will be serious ~, ( .:s by th,.; fluctuations which have occurred. It is t) be hoped that some change will speedily take place in the character of the trade, which will allow of a more extended use of inferior qualities, and bring the quotations for them more into harmony with the valu t of The range in prices between inferior ropean silks is greater now than was kncv.-n be:ore. nlta Mr. James Crecnwood, \%ho ihre;! yents ado I:ins , 1 fant,,t;s: 3 VII, "Lgnibetli A 9)%tero• ju_ tche..; en I .s'olLtsday t, nal for Um '.lr:t ;into Lont!,):), to narrate (" wi:h the f particularr„" it may be as.snincti) his experience of that memorable night of horrors. ritOTHEIZ. IGNATIUS AND MISS BO :;INSON. A ct:ug th his usual impulsive, but withal genial fashion, Broths Ignatius rppe:lrs to have amicably adjuster' matter , . with Miss 11.:1,inzon. It his cousent,.7.!iss t son has preae:ted in the new elopel it; the re:;r 4.1 the " monastery " which has formed the subject of dispute : and Brother Ignatius has publicly stated that he sees " the image of ;rostra very dearly reflected in her x;11,, 1:111, services of the police had been at one tillto invoked hv B:other Ignatius to clear thy fac.3 cbapel. THE L.t.w OF DANKRIIrTCY.—une of the firs" measures, We understand, the Government intend to intro• duce wh(n ParHamrnt meets is a bill to ameralthe law of I ;:nkinlityy. The bill of last session, framed on the rep, r: t.:rtn 7 ttee whiell sat to consider the defeet3 of the t! prci.. 0.0:11.4, fns i;:t; I,a3is illtene, it ♦f L:Z:i Cll:i+~it tl_2'. irL l' C 8111_ v.e {for for 11:112, t.!lc. necessity. oZ its clan. , €.:, a 'id striking out tliosc p)rtions of the bill which properly came the sco;:e of 1.1;o ralos and orders. The less cum brous tho character of the b;11, the grer.ter the probability ;t3l co y : , —Latv Yi,n e:l:cicnt:y Dr:f,Al, or.;an:satiull re brr,;,tti.ts Las IA-, a a ma ti,,T :(lilong-1.4 many of tla + E.~~ •~~ e!!c!I ra,..;n);.: :Jig from o,ooi to .:;,G)) th:.ollgh their cern RI; tt . w... , 11-hlloo2l " ton" fire•engincs intro,:ticcii i i r y y c:C.lier and Soao, (i 7 engine ron,ders 1;t yctr 0 i : `: ~it ~~~ C:+ ~.1 cf e above t]iii ilt3 t: country tor. - :,s, both n a.id cost. It i. ca. 7 znanagonicnt ( , f Ti; is t : the r ,ri:;ade3 n each of tho to ::3 arc full, tir tl Ero•engine ala eve 47 1 -,. . - 15 - ..",r.3 to .LIO. r. r.-ay „ .. N great, (- n bar,: been eery ser i, n tin; otlr,r day on the line between Tian; r r , 41 ,1 I, l .:inclulno Junction, rnn.s alon; of tai river Conway. rcv:sit or suit' TIAILV:AV ACII)ENT.— -A very CUFiOII v!;;Cd, if it; had oe.atrred in the it 4 Ta'y earn, t;; the rect nt ,he . avy 1 a:1: iltiqding of thz., river Foltl,',-nly waslio y• qua:,tay cf the enr:!!wurk, ur,lnitivrt..cd for no:nt., Th e t ra : :avinL; Lianrwt, at 1.13 r.1 7 ;.:t with au acc.dent ill c.n:, q n uece, for before the driver could etop tin; train the • :rave way, and the engine and tender wort lar;;.: fissure% The driver and firemai, ly cscal'ed with slight brui, - ;: , 3, as did also the fe%‘ nfrizt to IJlanrws!: rrccipitr , . f AtunatL: .1 mi 7., ‘vitl), in the trlrn, t excfption of a yora: A ca`..0.4.: iluxt tender was smashed, and a quantity of pigs, tliccp, A correspondent writes that Mr. Ripley, IN ho was unseated by Baron Martin on Friday afternoon, meets with a good deal of sympathy in Bradford. lie began the election campaign certainly not as a popular man, but progressed rapidly in favour, and like the late member, Mr. M. AV. Thompson, owed a great deal of his popularity to the ladies, who have NC t!rinly esToused his ca.r.e. \Viten the decision 17'.S known a 1..rg0 throng gathered round the court, and loud cheers were raised by the frientis of Messrs. Forster and Miall. Mr. Forster :Init Mr. Ripley were both present, and his lordship's language crested a profouni impression on the auditory, as he denounced in strong, emphatic, and uninistlicc able language the practices pursued by Mr. Ripley's agents. -` , /r. Forster w.:a loudly cheered, as also was Mr. Ripley, when he is % the court. The l.Ltc mem bc....•'s supporters are already on the a'ert, and a pre liuiinaty meeting was held on Saturday evening in order to commence another electioneering ca,mplig,n. TUE REPRESENTATION CIS NORWICH. The hint of disfranchisement thrown out by Baron 'Mart- rec.nt inquiry at Norwich scorns to Irwe 1y. , 1 iLseffect in deterring candidat;‘s fr COlflilig a Enrry. AN'c have alre: - .dy stated' 21r. I ,71v 1 , 1 W;!rner has ics!:ed an address in the IMot-A st, 1)s e;!ndi(l;Wire do-s not please ill srctions of the party, Lnd 'mutt, who had to 1 el.: the expense of prosecutin„; the 1 . . e it:on al te r hist Sir Henry Stracey, has been invite'? to f;tAld rgain. howaer, to have enough of eke tion(win;; Fir son:Ohne, for he declines, " for the presat, :,t 'to olkr hi , use7.f. Mr. Milner Gibson la;S been comn.uaicated with, but wht.ther the light hon. gentleman will try lh s fortune at Norwich or Manchester is not yet officially known. Mr. L. Straeey, the son of the ltte member, is stated to have chosen by the Conservatives for the vacant seat. His address has not been issued. ELECTION EXPENSES. The accounts now bting published of the money paid by the resnective asuirants to parliamentary h :nours t7 - n - otirthout the Vnited Hieglom are ex tremtly uninteresting ) except to thecnthu poLtieian. In one or two :41 , 1 ,ted cases, however, it is well worth while to study the relative amounts paid by two candidates in the same county or borongh. The comity of Edinburgh sup plies an instance. For some years the representation was held by the Earl of nalkeith, who, as the eldcst son of the l arges t l an d ed proprietor in the county, the I)nie of Bue.leuch, sat unopposed from 1853 till the 1 to general election. His continued indisposition and consequent absence from his dutics in the llouse of Commons led to an organlset. oppcsition against his re-election. The LiberAs chose as their champion Sir Alexander Gibror. Mait- Hid, an 1 after a spirited contest the noble earl was defeated by a large majority. The cry was imme elitely ra:sed—and has since been re-canoe 1 at a dinncr—that the delw's son was de7e:tted simply through Sir (.; itnon Mailllnd's supporters commencing, their op orations so much earlier. One would suppose that the longer the con st. the greater the expense ; but the published accounts contr.:diet this natn - e,ll conclusion. Sir Gibson Maitlancl 4ie2nt wsih's opponent's electioneering expinscs amounted to £4,177, or more than fear times as innelf. As the lAter polled only 005 votes, it is clear that the average sum he ex pended on each was t 5. On the ether hand, the Liberal polled 1,140, sheaving that his suppertcrs cost him £l, being one-fifth as much. We believe that the n31:10 earl has to pay dearer (in proportion) for his whistle than any other candidate in the recent con test. T ' .1: LATE EILNEST renry, ivho contested Kinchester nt the gener. 1 as:ct.i,,e, in oppositicm t th'• ,slim of the • - lrit . ted Liber..l Party," : - .1111. ;7,.8 defeated 'ill colnimny with Mr. E - rnest Floncs, has nobly adminticn liis late opp.i.ient. - I\ - r:t:::g fron t Irel•nd •to Afair...:hester, e S,ys ,• Whatever differences my conscicn tiously ar-se in p o liti ca l opinions, they` m-y, happily, c , laitrrdted in sympathy tow:ir,ls a lire .ved widow and f.:mily, and be forgotten, and even regretted, at th e 3 .0, 0 or the grave. Should a private cr other clilperiptvien fu• the NV VICAV an:l Eimily of the late Mr. .To'icts I ,l ` 2l `:e t twee hit+) the hands of the treszirer . tit me, with or w:th , nt -my name. ThLs :is a small share of sym- L I . let me ?mow wh i 3 proposal to be don e s-t..71y • • v•! The funeral t rti.ce at M s T.:'A 1. Oi' OVEUEN.), GURNEY, AND CO Ir 2 generally adrnatcd that the Lord Chief Justice did right when he ganited the api4ietion of Serjeant Parry to remo7e the trial of the directors 'n V.+o iii fate l Orerend. Ciumey, and Co. from the ,1 ( 1 I ;aley to Westminster. The+p7ejudices of a connw jury at the Central Criminal Court against what is considered " COmmen . 3i4l irmrorality " arc known, and it is thcrefor. s ttisfactory that s - 7ch a cause cfli , bre will be trial Ltfore n clear-headed lawyer like Sir Alexander Cochleirn kind a special jt;ry. Besides, it will gixe the learned Chief justice an opportunity of displaying his match leas superiorty in smnining up r::1d dealing with one of the most inti icate cases of modern tmes. As in the trial of Strahan, Paul, and Bates, the *r;_;wn will undertake the prosczuton, who—sap )oshag the Liberals arc in power at the time—will be l'epresentcd by the learned members for Plymouth Exeter. En passemt, it is stated by a onflon ccntexporary as vAnewhat reniark - .I,le, that within the elcr, - en years in IV John Henry Gurney represented King's Lynn, from 1854 to 1805, he sat upon time Liberal benches of the House of Commons with both the judge who is to p res id e, and Lord Mayor La w rence, the com mitting magistrate. MO more lcttcrs appear in the Tin:es conceitmg the charge brought against the directors. Nr. Charles John Mare, who was unseated for Plymouth in 1853. states that his connection with Millwall and Thomas W. Morsman, " priest in the ancient diocese of Lincoln"—the same Anglican clergyman who a short time ago er:pressed his b:dief in the near approach of the good time when the English Church would submit itself to the Holy See —is very indignant that Mr. Ffoull.:es should have written against his own Church, and r.shs how he can cousAcntiously remain in it ; to which that gentle man might well reply with a tic pope. The Register i s also very angry because the eburch .Neles has had the " cool impudence " to speak of the Roman Church as " that new communion created in 1851." " That we arc not of the Church of Laud is perfectly true (says the Register), and God be praised for that mercy: but to say that Anguttine cr Anselm would, if they re visited the ez.rth, belong to that hoteli-botch e7.l:ed the Church of England, is about the greAcst absurdity ever uttered off the boards of a the,.tm Fancy St. Argustine an Anglican bishop, with a wife and some fast daughters; or imagine St. Anzcim paying t he quarterly bill for his womeilliind at _;wann and Edga:fs. And might we ask, if we poor people of the Poninn Obedience' belong to a new commu nion' in In d - gland, to wh a t did the race of men who for three hundred years braved the anger of the Anglicm Church as by law established in these realms bclon?,•*:" Finally, a favourite correspondent of the s: - .lllCinurrnl wrns the Ritualists that every time thy offer up the mars they desecrate the Messed iteraintnt, incur the penalty tf Korah and his and " are dawning souls • daily." Strife Le , I : 3 l .l n ry l h an ai: i d r s, n h w t i tcr Z l (7l B iii r e c u l l : s a c i s t• l e1 (1 1( 1 1 ; Y m i -c vl h Ic , r b e e t a r - l c d e n ° Sh• 11 we never be at rest until we reach the Lad " where beyond thcse voices Clem is peace :" T1:11 UNNY E 01.717, - - While we in the far Noith are sitting, with op:n Windo - ,, a and extinguished tires, our friends who live ta' en their anna, I winter flight from the dreaded English winter to the balmy and sunny South are suffering the aaonies of hard frosts and bitter blasts, without any of the solaces whi c h an E nglish home offers. A letter from :Naples, written on Jan. 23, says: "It has been snowing here nearly - all clay. The plants around the fount tins are covered with thick r:bbed ice, and the Litter cast wind is as piercing, as I ever felt it i n L on d on . Th e inhabitants and °the visitors are alike bewildered; the former declare that they have never &len cr felt similar weather, and the latter w , i2.11 themsell-es safe at home. At the hotels great coats and sealskin cloaks arc worn at the table (170 e, as things are collie to such a pi , am that appear ances must be s criticed to comfort. The streets aro almost deserted, and the few persons who venture out of doors appear to be enduring agonies from th e co ld to whi.di they are so unused. The Neapolit3ns attempt to console us by assuring us that this state of things cannot last many days, and that an early spring awaits us. We live in hope." FOREIGN NOTES. Tbe Times correspondent gives silre particulars relative to the murder at Burgos. The decree of the Minister of Public InAruction was, as before mentioned, intended to be secret, hut it was impossible to prevent the contents of a circular which was achlreEsed to seine hundreds of persons from leaking °tit. The clerical papers were soon able to raise the alarm, and inform their readers that the secret object; of the circular was " the spoliation of the Church." At Burgos some rumours of that nature were already in circulation among the people, and a certain stir was perceptible in the most crowded quarters of the city on Sunday. On the following morning, however, the Governor went to the cathedral, and was admitted without opposition. The door was closed after him, and a picket of Civil Guards posted at the entrance. Soon after the voice of the archbishop was heard to cry for help, and one of the bells from the steeple sounded the alarm. The mob, apparently at that signal, went round the building, and forced a way both into the church and the cloister. The cries of the multitude were, "Death to the Governor !" " Fire the United Church of Burgos !" As the Governor wa.siEsuing from the door of the church nn hich led into the cloister,' he asked what the people v. anted ; Lot these c7osed upon him, and nn the very ski s of the threshold pierced him with V. eir dag,gers. He fell ;he was seen to strife to rise, Lut was soon again overpowered and prostrated. The murderers then tore his clothes from him, struggled for the possession of those bloody tatters as trophies, and cut even the lin:bs to pieces, " like famished wolves." They then threw a red scarf round the mangled body, dragged it down the steps, and through the cloister, to the square before the cathedral, where they were fallen upon Ly the public force which dispersed them. Tito Papal Nuncio was at a friendly party at the American iklini,,tur's when the news ariv,d at Madrid, aril gruit care bad to he taken hat he sho - uld fail into the hands of the populace. The entire diplomatic body at. Madrid has declared that if any harm befalls the Nuncio they will leave Madrid. The Etend ,rd has received information to the effect that the canditlat:lre of Duke of Aosta is suppoi ted by nearly two-thirds of the - members of the Cortes. TERZ.Ey AND GREECE. 111. Walewshi arrived at Athens on Thursday morning. It is announced that the 13ulgar:s Cabinet has sent in its resignation, so that the French envoy will have arrived in the midst of a Ministerial crisis—a c:reurnstanee favourable neither to prompt nor prudent resolutions. The very fact of this resignation snificiently proves that King George is himself disposed to a conciliat, ry policy, but he is a constitutional monarch, and can carry out Ids views only by means of a Ministry which will support The question is whether he will, in the present state of public opinion in Greece, be able to form a Cabinet which will accept a peace po!:cy. 'The .Indf'pfnclance Eflge bel;eves that the Jiulgaris Ministry has resigned only under the conviction that it will be impossible to replace it, and that the last hope of peace will thus vanish. In diplomatic circles, says the same journal, it is not expected that Greece will return either a positive refusal or a full acceptance. The national vanity will be appeased by certain reservations which may possibly be dangerous. The reply of Greece, in short, will be an evasion. Whatever may be the merits of the bill intro duced into the Federal House of Representatives on the. 12th inst. by General BUTLER, we think there can be but one opiuien of the ability with which he maintained his notion - of a sound currency, which may be summed up iu two words—"inconver tible paper." It may be said that the United States his that now; General BUTLER answers " No ;" the Government has one currency for the people and two for itself ; one of which he sti ikes at, and that - bee—gold. To financiers who hold to the Old World idea, that currency to be sound must be metaliic, or raper convertible at pleasure into metal, the arguments of General BUTLER will give a shock. lie says the Republic has got rid of every vestige of the monarchies and elaveries of the Old \\Todd save one, and that one the power by which the masses of all natiees have always beau enslaved, cancel numey. The first despots hit upon the device of impressing their image and superscription upon metal, which they arbitrarily mada a measure of value, and the equivalent for which the property of their sul jects must be exchanged. Throughout les sptecil rues t' is idea that the most powerful =gent in the hands of desoots is coined money. _belying it down that -a currency should be uni folio sound, c' eT, stable, end elastic, he goes on to show, after dsfinie g each, that in none does a metal equal a paper currency. The pro posals to return to specie payment are met and an swered. " Ono says, The way to resume specie payments is to resume.' Suppose the physician should say to the sick man, The way not to be sick is to be well,' might not the patient ask his doctor, How our I to get well ? So, a few years ago, ODE may remember that the way proposed for the Union armies to get to Richmond was ' On to Rich mond;' and I trust I may not be considered as malicious in calling to mind that our armies found Fs me difficulties in carrying out that suggestion, which resulted in such disaster, that it was hoped that those who blindly advocated it would never again dogmatise upon any subjeet•the difficulties of which they neither appreciated nor understood." He then takes up Mr. M'Cursoopn's plan, and shows that by no Act of Congress can $100,000,000 be made to pay at par a debt of $700,000,000. Of Senator MORTON'S scheme, he observes, "Another learned, able, and intelligent gentleman, for whom we have the highest regard, in a speech of great power, supports a bill embodying a plan for the relief of our financial difficulties, which would be P were it not int,ossiMe." is I4s argu ment aoainet the hoardieg which the Senator pro posed to enable the Treasury, within a specified time, and the National Banks to return to specie Payment t---" Upon the beet authorities there are only about $1,500,000,000 of specie currency in circulation in all th e nat i ons w h ere our b on d s h ave bean or will be taken as - an investment, or, indeed, in the civilised world. If we should succeed in lock ing up $330,000,000 of that, or 20 per cant. of the who's currency of the world, sl.ould we not make what in technical phrases is known as corner' on the rest cf mankind; hi Coi4arison With wh;ch the late peoferMance in that line EI Raaroad and New York bankers woald sink into limited insiguificatce? Again, suppose by this ingenious and novel process of borrowing we were to return to Aate of solvency'—to usa the phrase of those who insist that our legal-teaders are depreciated, faired paper,' becanse not paid on detnaud—i.e., rtturu to specie payments, to the state of currency before the war, could that conditiou be main tained ? It will be remembered that before the war the Government received all its dues and paid all its expenditures in gold and silver only, amounting to from sixty to seventy millions yearly received and paid out, and there were in the country, as is estimated, som e t wo h un d re d to two si v ehundred o fiftymillions in specie, ex uhoarded, a lth oug h i n 1 860 exf what and was there were but $87,000,000 in th e banks." He thus concludes this portion of his a dd ress— T here i s but w e o inneuisiltair wait the superiority of a paper currency, the faults of the system now iu force, the errors in the schemes for a return to specie PaYiLent, and the unadvisa bility of such a return,. even if pr act i ca bl e, G sneral BUTLER proceeds to give his own plat :—" Observ ing that the amount of Legal-Tender notes now sa of the taxes 330,000,()00 —are very nearly e.l issued by the Gol%;:ea tae amountent-Y and duties to ba necessarily colt acted by the Go vernment for a series of years to meet our expen ditures—at least the variation is not material for illy aurpoae—l propose that, retiring the present Legal Tenders without shock to the business of the country iu the manner hereafter to b e exp l a i ne d , ;5),040,4 00 , o` not l ess than one dolor, of certilieat ea o f va l ue, o f c the Go,ernmeoit shall issue an am oun t equa l to i ts taxes, onen s i a e y n n 3 ol )' which shall be lawful money and legal tender for al: debts, public and private, which by the law creat ing th em are not made payable in coin, and shall be receia able for all taxes, duties, and imposts of every kind whatsoever, to be reissued at pleasure under . the conditions hereafter set forth or in payment of the debts of the United Statei, and which shall be received for all public loans male to the United States. It will be convenient here to explain the changes sugge.ted - in this err ificate of value from the art sent Legal-Tender note. I propose that the paper money of the Goverbment shall be a " certi fLette," wit h appropriate vignettes, to prevent counterfeiting, in form like bank notes, stating its value only upo n it s f ace, w i t h th e p rov i s i ons o f t h e . law crewing it, instead of as now a note promisin g to pay a certain su m at the T reasur y of th e U n i te d Staten, whi c h i s b y law to be paid only in anoth er like it, so that no s epic' person hereafter, in order to depreciate the currency and have an opportunity to declare it " failed paper," shall present it for pay ment to the Treasurer of the United Sates, ex pecting it to -be redeemed in any other manner - than is provided by law and stated upon its face. He went on to prove that the Old World faith in the precious metals was a prejudice and superstition in the maeses, and a weapon of tyranny in the rulers, productive of most injurious effects, tracing the history of coined money, to which he ascribed all great panics. These panics he certainly made the most of, attributing them exclusively to a metal basis, and as contrasts be followed the career cf England through the crisis of the struggle in Europe,. and the United States dur ing the war of the Retlellion. Both were saved by p•per ; Loth went through these periods with flying colours, and both experienced during the tine a prosperity in marked contrast with the periods of terrible panic and depression brought about in times of peace by the slavish adherence to a barbarous medium of exchange. Ile combated the cerrent delusion that the Government was in debted to the patriotism of the bankers and cal i talists, who came forward to lend their gold in the period of its utmost nests, which was exactly what they did notdo ; indeed the banks boarded, in vio lation of law and their own plighted faith, so that a dollar was not to be got from their vaults. it was until they, or rather their dupes, are brought up by a terrible experience. his most striking instance was the ruinous effect of contraction and panics, and the smooth eas=y flow of affairs during the periods of rampant paper. Wit COIL BUTLER. suppose that there would be no panics but for specie ? Ts he not an' ire that they eventuate from a quality inherent in human 'nature, and the best and most effectual check is coined money, while the means of inflation is invariably paper? It matters not what may be the currency, periods of speculation and of undue values will occur, and periods of depression and de preciated values will supervene. Nor will the pre vailing tendency be checked for want of a medium so long as man can write and there are pens and paper. "Man being reasonable must get drunk," foolish is perhaps the word BYRON ought to have used, though must is true, for there are more kinds of intoxication than that caused by alcohol ; and in all, the reaction is unpleasant, but the joy and the grief, the hilarity and the gloom, come on in the individual ; in fits resembling in the community the sanguine periods of speculation, alternating with those of collapse. General BUTLER talks of a currency based on the debt of a nation ;—a very strange foundation for a currency ; and, notwith standing the force of his arguments, we prefer a precious metal basis. We must correct one false impression lie has endeavoured to create. In coin batting the general remark that the currency of the United States ought to be.of the same value as that of the world, he a&crts that it never is, nor . ever has. been the. - s;:amped coin being merely valuer: as bullion, adding "As an example, take Japan, where the standard of value is silver. In 1857, our Consul at Simoda, Mr. TOWNSEND -HARRIS, informed us that gold was only as 1 to 31. in silver, while with us it holds by law, as a part of our specie standard, the rate of about 15i to 1 ; i. e., in Japan 31 ounces of silver would purchase an ounce of gold, whila in America it took 151 Ounces of silver to purchase an ounce of gold. flow, then, can it be sAid that gold is the standard of value of the world, when in one country, which absorbs large amounts of our specie, it 'stood depreciated in comparison with silver at our straplard at nearly 80 per. cent." Were we arguing against General BUTLER, this is the in stance we also would have quoted, and it is a sin gular proof how things may be put. Japan was a country hermetically closed to the world, till sul denly opened about the time the Consul wrote, when the discrepancy between Japanese values and those of the rest of the world was ditcovered. Im mediately people in a position to do so, rushed to Japan with silver to buy gold, and DENT'S house being early in the field cleared a large sum. A stringent regulation was passed to prevent any exchange except through the Consuls and G)vern inent officers, for, by every device, the country was being depleted of its geld, which rose rapidly in value till the Government restrictions and the in creased cost put an end to the traffic. For a time the disci piney adverte I to by the General in duced traders to fly at Japan, as a hawk flies at a lark. Bat no one was told the consequence, the fact only being adverted to, while it was not even -explained that the relative value in Japan could have been maintained only by ag *in severing all connection with the outer world. MONEY AND BUSINESS. (Front the Springfield Republican, Jan. 16.) With the. etc ption of Tuesday, when a derided strin gency was induced in the early part of the day, by reports of and the combination to lock-up greenbacks, money ha been easier during the week, under the largo disbursemen f o r interest and dividends since the Ist. The amou:.t now in the market is too large to give the bear cliques any chance, for a while at least, until credits have become pee pertionately enlarged and prices distende•l to correspond to the existing abunCenr•e of currency. We find the "huh" interest accordingly in complete control of the market. Every day increases the receipts of currency from the Vies where the market has greatly ameliorated since the bank statement, an•i collections aro more liberal and easy. Ship ments to the south continuo light for the season ; and the large accumulations at New York aro st:mulating invest . ments, while the recent failures aro discouraging specula tions, and :confining commercial operations within safer and more restricted bounds. As a con.equence we find discounts slow and difficult for all but strictly prime paper. The hostile propositions in Congress, looking to a restr'ction of the national banks, and even a sup pression of their circulation, excite apprehension and a7artn in hacking circles; and several of the New York banks, notthly•the Bank of the Commonwealth, have ini tiated measueee to return to the State bank system. There is no small amount of threatening as to what they will do and won't do, should Congress iuterfero with their plea sure or their profits. Wo do not believe in persecuting any interest ; but such threats from the national banks are both misehievons and absurd. They can only provoke the opponents of that system to extremities, and furnish a degree of justification her' whatever Congress may see fit to do with 1 he.franchises and privileges. The fact is, it has been owing to the blindness and selfishness of the I hanks' themselves with many honourable exceptions, of course, which has caused those attacks, and which to-day gives their er emies all the hold they have. The banks have trade enormous profits out of suspension and infla tion. That is plain and incontestable, awl the whole body of merchants and manufacturers know and feel it. No one is disposed to quarrel with this, provided these institutions show a willingness to take their fair share of the burden of construction and resumption. If they think that, after making profits for neatly five years with which neither the mercantile nor ininufacturing interests can begin to compere; and doing it without any risk, for they have had a sure thing and failure his been practi cally impossible ; and doing it without being obliged to stn dy either economy or efficiency, for no bank could do butinese poorly enough in the past five years to fall of eiuht per cent. dividends, tot to speak of reserved profits. If ;hey think that: after such a feast of good things they can la the overburdened industry of the country to carry she load alone, while they go on clearing an average of l( pnr cent. on their capital, they are very much mis taken; and when, instead of coming forward promptly, re cognis ing their obligations. ;led themselves proposing measui •es of contribution, they begiu to bluster, and threats n to go back under State laws and throw up their charter 4 front the general Government, they are simply giving melt demagogues as Butler a ten times stronger hold upe i them. As to going hack to the State bank sys tem, and discarding their national franchises, under which they have : made so much money, just as soon as any ser vice is exac► ad of them in return, it cannot be done. Revo lutions.Co not —o backward. The results of the war have been gent rally cigardet.l as settling it that several things, that used to telong totPte control, belong now, by the ale- THE CHIEF COMMISS:CNEF.SITIP OF POL7C7. The Home Secretary is still undectled as to whom he shall put in the important pest so long filled by Fir Richard Mayne. The rumours in connection with the appo!ntment arc as plentful as blachbcrries, but it is generally believed that the choice lies between Mr. Knox, Captain haw, Mr. Thomas Hug': . , Mr. Lech, Colonel Ewart, and ( rid 11(7Mb:twin. The Daily News expresses a Lep-i that "for a pest which implies a disciplimry authority ever tl:e police of three millions of people, the Government will not cheese any gentleman who has publicly betrayed prejudic es or antipathies with n sp( et to pnrtiei I r classes; of her Maj esty's subjects." cur to::temptravy i robably refi.ts to Mr. Elio;, v ho, as the presiding magist:ato at -I‘L:rlhorougli street, in the summer of 180 G, rendered himself extremely unpopular among the working classes by the heavy fines and terms of imprisonment which he inflicted on great nun - Leis of men who were directly or indirectly mixed t p with the demolition of the Hyde Park railings at the Reform League aemonstra t;on. The London correspondent of the Leeds Mercury asserts that Sir Thomas Henry has received and declined the offer. The rumour that Mr. Hughes has been offered the post is not generally creditel; and he believes that Mr. Knox will be the final choice of the Home Secretary. 'TEMP. The John BuY says that the LaVn speech which Archdeacon Denison will make on Tu(sd: , y, in pre-i senting the Prolocutor of Convocation to the Arch bishop of Canterbury, will contain an allusion to all the leading cluestions of the day, pointing out how the Church of England is to be subverted fur .the honour and enLrgement of the Roman Church, and dealing with the need of an increase of the Episco pate, with the Eitttal question, and with that of the Court of Appeal, in a masterly but most temperate manner.—The san:e paper mentions that in all pro bability an attack will be made upon the cathedral -sysi.ein by a distinguished member of the Liberal party.—Thrc,ugheut the dioceFie of Oxford altar lights have ceased to be barnt.—The Bishop r.'gn . te, of Lincoln V ill reside in his cathedral T'ishop of 1:onolnlu is just about to start fur Jiocue, aLd will receive a corrinission to visit on 11:s way the consuhr and oiler chapLincies in British South America.— It is reported that the Colmi: . ,l Ilishepri - s Council intend to found a bishopric for the Falkland Islands, and another, pr3bAly, at Lima or Coquimbo, which would, we presume, displease High churchmen as much as the bishopric of Jerusalem. The Roman Catlmlic pipers are greatly cxeC-.C..ed by Mr. Ffoulkes's pamphlet. The freckly /?cwis er has declared that no priest would think of giving Mr. Honlkes absolution or administering the sacra ment. Sir George Bowyer writes to the same paper with regard to one of the points taken up by Mr. I foulkes—the forged decretalsof Isidore—and admit ting that they were false, urges th t the poxers which f.:ey were supposed to confer can be abundantly proved without them. ITALY. The Mena.brea Cabinet was rudely shaken by the recent debate in the Chamber of Deputies. The assailants of the Ministry held that the grist tax had been levied without any proper preliminary arrangements ; that there was no agreement with the millers, and no means of estimating the amount of meal upon which the tax should be laid. The popular disturbances were largely owing to this want of- method. The Ministers had no effective reply to this charge. It was impossible wholly to exculpate them from blame ; and a proposition by Ricasoli, that the Chamber should pass to the order of the day, unexpectedly saved them. Their majority. was 50 ; on the last occasion of a party fight it was 77, and at a more remote date 100. The excesses committed by the infuriated peasantry were far more serious than the Government reports admitted. At Toligno the people nailed np the miller on the door of his mill like an owl or bat, and at Ceuto they seized two soldiers and put them fairly into the mill and ground them ! The of killed aml wounded was larger than the Government choose to admit. The Ilrce:ly Rilisfer announe , s that several conversions have ten made in - Nome amongst the English, German, and American ministerr, in conser i nence, of the serm:m delivered in both languages in the octave of the Epiphany. (5 EN: RI; 77, 1: 1.! 0 N 771 TL . 1.71 ^ .1V C (From the ,Inglo-Anzerican Times.) the Legal-Tender Act which saved the country ; and what peti.ion, BUTLER asks, has ever come to the House from the people, for relief from its grievances? Not one; but only resolutions of Boards of Trade and bankers, who now howl at the doors of the Capitol for payment of their bonds in gold, or, what is equivalent, a re turn to specie payments ; the very men who forced the bonds down to a discount of 60 per cent. by hoarding gold when the country nee led it, make this impolitic demand, unmindful of the destruc tion of values, the starving of the labourer, and the ruin and desolation they may cause. "There fore," sr.i I BUTLER, " I stand here for incon vertible paper money—the greenba-A—which has fought our battles and saved our country ; which has been held by us as a itst equivalent for the blood of our soldiers, the lives of our sons, the wilott hood of our daughters, and the orphanage of tit. it chllren. I stnn,i here for a currency I.y which the hi:sine:7s transactions of forty million people are safely and successfully done--which, fel - titled on the faith, the wealth, and property of the nation, is at once the exemplar and engine of its industry an I power—that money which saved the min: ry w-,r, and his given it prosperity and happiness in peace. To it 4,000,000 men owe their emancipation from Slavery ; to it labour is indebted for elevation from that thrall of degrada tion in which it has been enveloped for ages. I stand for that,money, therefore, which is by far the better agent and instrument of exchange of an en lightened and free people than gold and silver, the money alike of the barbarian and the despot." This remarkable speech bad cost the indef ttigable BUTLER weeks to prepare, and it is one which can not fail to add to his reputation, however erroneous may be the view it advocates, and however well and fiercely his reasons may be controverted. There is a dignity in the tone, force and originality in the argument of Oda speech. History is not unfairly quoted, and there is no vituperation when dealing with the reasonings of others. We believe BEN JAMIN BUTLER to he altogether wrong, that he is merely in pursuit of a chimera which has led away many a man as clever as he is. Indeed, it is the clever ful!ows who get ent in ;led in these fallacies, cessitios of national progress and by the inexorable logic of events, to Federal authority, and they will bo kept there. A return to the system, or want ef system, in which banks were organized under the charters of 30 odd States, without any provision for mutual redemption, or for main taining a common standard, would hardly suit the nation which waled secession cut of South Carolina, and is to finish the Pacific railroad next summer. If enough of the national banks should accept State charters to make them worth noticing, the general Government would lax their circulation out of existence in six months, if it took one per cent. a month to do it. Therefore we cannot but re gard with regret this ill-timed and irritating bluster at somo of the momentary centres about the proposed action of Congress. We should earnestly deprecate the destruc tion of the national banking system, believing that nothing so good would be substituted, and therefore we deprecate anything in the attitude of the banks which invites attack and gives opportunity to artful and po..verful demagogues. Only by accepting the situation in good faith and good feeling, and making their contribution to the public necessities readily and cheerfully, can they avert the evils which threaten them. Gold I:as stiffened somewhat during the week, and there are indicat'ons of an upward move ment. A good deal is bein:;•qui.-tly laid by, whether in reli ance upon the natural cours,. , of the premium, or with a view to procluc7ug a corner, has not yet been developed. Governments have in general continind their upward tnovement, though seriously checked on Tuesday by a rumour of new issues, which proved, in the special form in which it appeared, to be wilrolt foundation ; but wltich still hangs over t'ao market like a threat, and serves ap preciably to restrict the rise in prices. The specific rumour was that the Secretary had agreed to deliver to a well known house, through which the secret sales have been conducted, five millions of six per cents. under the Act of March, 1865; and the report seemed to receive some con firmation from the fact that certain operators, who have been thought to know as much about such sales as any body, have bens selling bonds heavily, in the face of causes evidently tending to an advance. The Me of money, the improving credit of the nation, and the manifest impossibility of another "lock-up," would seem to leave no other chance for the "bears" than some such action on the part of the Government. The rp cifie report, however, Mr. Van Dyck has de nied, stating that the only issue contemplated is that of some remnants of previous issues, to the amount of $500,000 or $600,000, in order to make the numbers consecutive ; and oven this Las not been re solved upon. So much for tho explanation of the Govern ment; but the very fact that the market needed such an assurance is a strong argument for putting it out of the power of the Secretary to di anything so foolish and mis chievous. It would be a very pretty thing, indeed, to have our bonds numbered without a break; exceedingly gratifying to Treasury cleiks and officials ; but that is rather a matter of taste, and the national credit is of more importanceat present. The . power of the Secretary to make any farther issues of gold six per cents is a standing threat to tlee market, and is being used I.y speculators for injurious purposes. The la - tatter should be promptly taken up and settled by Congress. This country has no more occasion to borrow money at six per cent. when its five per c.•nts. are above par and advancing. The hull move ment in the stock market continues in full force, and a great body of stocks is being pushed up by a combination, which carries, as yet, everything before it. Milwaukee and St. Paul is now at 754 for the common, against 711 a - week ago, and 961 for preferred, against 901; Toledo and Wabash common 631 against Gt 4 ; Cleveland and Toledo 1041 against 1011 ; Rock Island 1281 against 1181 ; North-western common 831 against 821, preferred 871 against 85 ; Fort Wagner 122 against 1181 ; and the end is not yet.—Cleveland and Pittsburg stock is 3 per cent. lowtr, having suffered to that extant already from the reduction in its direction which was effected last week in the triumph of the Lane faction, by means of pur chased proxies. Mr. Lane is a first-class operator, of the Daniel Drew school, and was hardly warm in his seat be fore inaugurating some very wholesale operations, which suspiciously resemble those which have made the Erie Road a hopeless wreck. Three of the directors have pub lished a card, exposing what they regard as the fraudulent action of the board. They give the following as the sub stance of the resolutions adopted at the meeting immedi ately following the election, by which the Lane party Came into power: To increase the capital stock $900,000, to declare a scrip dividend of 15 per cent., and a cash divi dend of 2 per cent. upon the scrip dividend, to issue bonds of the denomination of $1,000,000 each, secured by mort gage, convertible into stuck, and be disposed of at not less than 80 cents on the dollar. To abrogate all existing byelaws of the company, to appoint an executive commit - •" • Nee:ea....ewe...v.. s. --- 1- complex derangements in which the public finances are in.. volved, and that ccnsequently a further period of inquiry and discussionmust be endured before any really practi cable measures can be reached. For this reason, the intro dilution of financial measures into Congress is regarded with little interest other than as indicating the progress towards a goal which is felt to be as yet far distant. Sena tor Morton's speech upon the resumption of specie pay ments, while indicating how rapidly our legislato.is may improve their theoretical knowledge, yet shows how much the most advanced of them have to learn up n • practical finance ; for, while he estimates the stock of coin • in the country at from $100,000,000 to 500,000,400, it is impossible to trace the existence of over $200,000,000 I to • 225,000,000, the Neil.: States included. The Senate has also furnished another very satisfactory indication of pro gress, iu taking the position, by an almost unanimous re solution, that there can be no consolidation of the debt at a lower interest., until the Government has redeemed its heneur upon its demand obligations; but, coupllug this conclusion with the unpractical character of the steps taken towards resumption, there is little ground for ex pecting that the present ceulition of the debt will he ends change t. There a;pears to be considerable probability that Congress may adopt a measure authoris'ng the' eu forcernent of contracts for the payment of coin. Such a law, however just in principle and eenveeieut to imeor:ant commercial imerests, might yet have consequence 3 not generally a . prehended. In important sections of the South U.S. notes are not liked and national bank currency is dis trusted. To such en extentdoes this feeling prevail that many of the planters have demanded gold in payment La- their c Mon, so that several mlllions of coin have been s not South within the last three months, while the coin in the Sub-Treasuries at New Orleans and Mobile has been s ell to meet this d erraud. In •he event of gold contracts being protected by law, this disposition among the planters, en couraged as it might be by the press and the local bankers, would quite probably result in establishing the trade of the South . upon a gold basis. This, it is tree, would bring about specie payments in the South( ra States; but it would be at the expense of such a drain of gold from the North as would inflate the gold premium and seriously embarrass any effort toward gene ral resumption. The gold premium is perhaps more closely connected with the Southern preference for gold than is generally supposed. The preference is not to be regarded as the mere expression of a temporary political prejudice, bat as the revival of that predilection for hard money which has always characterized the South, and which its recent experience of a depreciated paper currency has only helped to confirm. Tho peculiar indepen dence which the South derives from the cotton crop enables it to demand payment in whatever form it prefers ; and should gold receive preference among plv ters, even though in comparatively limited sections, the result must inevitably be the permanent withdraval of a large amount of coin from the market. This is but one of several considerations at present influencing gull in favour of a higher premium. The protracted depression in the European money markets, wlrlch has induced a ;e imek ably active demand for our securities and enabled us to settle large - fore;za - trade balances by remittances of bonds, is now giving place to a healthier activity. Europe has begun to place more confidence in tho pacific assur ances of Louis Napoleon, and trade is consequently re - vivin; with a rapidity which, during the present year, is likely to induce higher rates of interest. The Bank of England is expected every week to further advance its rate of discount—and t: o Bank of France has lost since the close of September, 160,000,000 fr. of bullion. Under a further development of this tendency, it is not to be ex pected that foreigners will take our bonds to the same ex tent as heretofore, except in the event of the gold pr emiuio advancing to such an extent as to make them appear rela tively cheap. Evidently, therefore, we must be pre pared to send out more gold and fewer bonds, or to reduce our importations. The latter alternative vi° are not adopting, the importations for the spring trade having, thus far, exceeeded those of last year. What then is our position for meeting any considerable foreign de mand for gold? Our receipts from the Pacific are light ; the total arrivals of California gold for the last quarter, Of 1803 being only $2,800,000, against $6,100,000 in 1868, and $11,000,000 in 1867. The gold movement at this port during the past year has resulted in a loss of $29,600,00 0 ; that is to say, the exports have exceeded the combined foreign imports and the arrivals from California by that amount. The advance in United States Bonds, foreshe dewed in cur last advices, has been realized, and at the moment the market for that class of securities shows a steady tone. In some quarters there is a sanguine feeling in favour of still higher prices, but it may be doubted whether any further rise would not bring out an important supply of stock. The demand for the reinvestment of in terest has already been, to a considerable extent, satisfied ; and, although speculative movements may produce a tem porary rise, we are disposed to regard current prices a affording a fair opportunity for intending sellers. tee, with power to tnake byeltt;vs and contracts, and to do all acts which the board has power to do without report ing their action to the board; to appoint F. A. Lane financial agent of the company, with right to possess and hold all securities, bonds and moneys of the company, without being required to give bond or security therefor ; to doubl , -track the road; - and also to construct a road from the line of the company's road to a point on the Cenral Ohio Railroad; to appropriate $500,000, to be placed in the hands of F. A. Lane, to pay attorney fees, and to be otherwise used as h e might deem. expedient. If that isn't a pretty piece of work for one day, we should like to know what would be considered such. The new direction have set out well ; and if they go on as they baye,begun, it is not hark to tell what Clevelo.uk hud--Pitttharg will to worth six months from now. Toledo anti Wabash is being largely purchased by the p trties who hold Rock Llan 1, with a view to advatica th:.: prices sha , ply on the shorts. Pacific Mail has advanced fro:a 1201 to 124 The directors are said to have divided the $5,000,000 of stock bought of Jerome, and are bulling the stock heavily. The upward movement in cotton still continues, and has assumed surprising proportions. 3iliddling uplands now sell at 2!) . 4., a:,d there is nothing yet to indicate that tho end is reached. The custom of selling for future delivery has grown greatly into use within the past year, and the contracts for delivery in January, February, and March are to a very large amount. Most of these were made at 211 to 231 cents ; and the parties aro now buying A 29 and upwa: ds to cover. Export has already been checked by the advance ; and holders are not generally disposed to let their stock go. The excess of receipts for the year over 1867 is now'reducei t.) about 100,000 bales, and the present upward movement is likely to cause a still further diminution in receipts. The coal trade is comparatively dull, and the receipts show a falling off as compared with 1868. The general trade of the country is quite fa;r, and is foreign merchandise somewhat in advance of last year. Messrs. Stokes, Wllaffie, and Co. have received the fol lowing from their New York correspondents : "New York, Jan. 27.—Four days' receipts of cotton at all ports, 38,000 bales; approximate estimate of receipts for same week last year, 83,000 b a l es. N th o e w w o ee r k le , a 8 nt, 6 J 0 1 0 ta b . 3 2 1 ; 3 .- ; --Middling from this port laid down in Liverpool, with all charges, costs 12id per lb. sa_ vannah, Jan. 27.—Middling costs, laid down in Liverpool with all charges, 121 i per lb. Galveston, Jan. 26. Good ordinary Texas, laid down iu Liverpool, with all charges, costs 121 per lb. All markets very weak. The above quotations include an allowanee of 6 per cent. for lots in weigh!'. The following is from the Tribune of Jan. 16:— At th., close the market was strong and active, with a good demand for all the loading shares. New York Cen tral was strong, advancing to 139.. Cleveland and Pitts burg was strong throughout the day, with heavy pur chases made to cover shorts. It is understood that the proFeut direction will not got control of the property, the laws of Ohio being much less easily evaded than those of this State, whore injunctions are made and set aside wit equal facility. Governments closed strongly. Tho following were the b Stocks:— ds for Nosy Yurk City Bank New York Manhattan Merchants' Mechanics' 125 America Phenix lO3l Mechanics' Association 125 Seventh Wardl;o State of New York Com ine ree American Exchange._ 11.3 Bank of the Republic 122 Bank of North America 108 Shoe and Leather l2O Commonwealth Importers and Traders' 127 Park l5O Central National ourth National lO2 Ninth National Oriental Bank l3O Ninth National Corn Exchange l3O Continental lO5 CLOSING QUOTATIONS N. Y. Ceutrd 6s, 1883 901 N. Y. Central 6s, 1887 N. Y. Orntral 6; It Est N. Y. Central 6s, Sub'n N. Y. Central 7s, 1876 102 N. Y. Cen. 7s, con. 76 — N. Y. Cen. 7s, '65-'76 — Erie Ist Mort., Ex 102 Erie 7s, 2d Mort, 1879 93 Erie 7s, 3,1 Mort, 1883 92 Eri.37s, 4th Mort, 1880 86 Erie 7s, sth Mort, 1888 86 Long Dock Bonds Buff. N.Y. &E. lstM, '77. 89 Hui. R. 7; Ist M, 't;9 101 Hud. It. 7s, &1 M, '75 — Harlem Ist M, '6B '72 100 Mich. C. Ist M, 69'72 1191 Mich. new Ist 11 Bs, 'B2 1101 Mich. So., 7 p. c. 2cl M 9O N. Ind. Goshen Line '6B Mich.S.&N.l.S.F'd7p.c. 95 111. Cen. 7 p. e, '7O 1141 Alton & T. 11. let 11 91 Alton &T.H. 2d pfd 83 Alton & T. 11. 2d M. Inc. 761 lian.& St.J. Land Grants 1U& Ban. & St. J. Con — Chi. B. & Q., Ist M 1111 Chi. & N. West, S. F 9B & N. W. Con Cony — ('hi. & N. W. Ex'n B — Money is easy at 7 per cen increase in the offerings; the tinue to increase, and the bat. Commercial piper remains uu for best naive:•. at RAILROAD MORTGAGES. Clii. A; N. W. Ist & kv.b. Ist M Ex 93 Gt. Western 2d M '93 7Bi 11d. & Pr. du Ch. Ist M — G.d. & Chic. Ex t 99 & Chic. 2.1 M 95 & 11. I. Ist M 9B Chi.ll. 1. & Pacific 7's 931 Clew. & 'Pol. S. Fund B9 N. J. Ceutral Ist M — N J. Central 2d M — Pitts. F t.W.,'& Ch. Ist M 1001 Pitts. Pt. \V Ch.2d M 96 Pitts. Ft. W. &Ch.3,lM 921 Clove. & Pitts. 2d M Chic. & Alton, S. P. Inc 9l Chic. & A hon, S.F. Ist M 9Bk Mil. & St. Pll.ll Ist 31 103 i Mil. & St. Paul 2d M B3 Marietta & Gin. Ist M — Murris & Essex Ist M 96k Morris & Essex 2d M 9ll. Joilet & Chic. let M & Gt. East'n Ist M al N. Y. & N. 11. 6s Dubuque &S. C ity, Ist 31. Peninsula Ist 31 Ohio & Miss. Ist M 93 Ohio & Miss. Con Tol. P. W. Ist M. E. D — Atlantic & G. W. Ist. M 9O it. on call, with a continued receipts from the West con- Is are in a strong condaion. ichanged at 8 to 10 per cent. (From Messrs. henry Clews and Co.'s Monthly Circular.) NEw Yonx, Jan. 12, 1869. The drift of financial legislation in Congress is not yet developed with sufliektat distinctness to affect materially Wall-street interests, Indeed, financiers have a s , •ttlel opinion that Congress, as a whole, has not yet alt tit,ed the theoretical and practical acquaintance with financial questions necessary to qualify them for unravelling the General Lorenzo Thomas has been visiting the South on a tour of inspection of the national cemeteries that part of the country.—Mr. George W. Childs, of the Philadelphia Ledger, gave a banquet, Tan. 11, in honour of H. W. Longfellow, which was attended by a large number of Americans, artists, and eminent persons now in Rome. David Dudley Field has succeeded WEN= Cullon Bryant as President of the New York Fur Trade League.—MoseS it. Grinnell, the New York papers say, will be appointed c:+liector of that port hy Gen. Graut.—The hand samest man iu Congress are sai,l tube Gen. Logan and Samuel J. Raud.ll. Captain Kenny, U.S.A., has committed suicide at Sitka. John Dixon, ex-clerk in the Oriental Bank of Melbourne, Australia, was arrested in San Francisco for forgerY• 13111 s of exchange amounting to $85,000 were found upon him Commissioner Rollins returned to Washington Jan. 8. Wendell Phillip-, when a youth, according to the New York Sun, wanted to income a chemist, but his mother interfered.—ll. Clay Dalian], the messenger from the electoral college of M ary l and, deposited the vote of t h e State with Mr. Wad e , th e P resident of the Senate, Jan. 8. The Indianapolis Journal says :—" Mrs. Matthews, the mother of the Vice-President elect, has been for several weeks stopping with her friends in this city. Like tb° mothers of nearly all our great men, she is a nobl e ' woman, of great intellectual power. Mr Colfax owes much of his success to his mother, and he fully appreciates it. She is a remarkably hale and happy old lady, and rejoicos l in a quiet way over the success of her son. Her only ( 13- sire for his advancement seems to be that he may be' placed in a position to do more good. The Girard House, at the corner of West Broad way and Chambers'-street, Philadelphia, has been sold for $150,000. The purchaser was Juhn P. Huggins, of Love" jay's Hotel. The edifice was built by the late Jame° Boorman, and measured 75 by 160. The price is consi dered remarkably low. . - Mr. James Fisk, jun., has bought out Mr. Bate man, and Ins taken over the management of the Opera' Boufft; Company. The price paid was $60,000, which in cludes the wardrobes of thirteen operas. The Nem Yor' Herald gives this schedule of the property and effects of the Erie Railway Company :—Erie railroad, main line, siN : old branch roads, one city railroad, two steamboat lines, one lice of freight barges, ono ferry, one opera house, one French opera company, one ballet company, lot of old wardrobe, and twelve 13. w suits.". This may be goo d " clkaff," but it gives very little idea of what the value i 4 of the property sneered at. One of the best of A►norican railways, the Pennsylvania Central, might be describe d much in the same way, minus the ventures in thet.tres. Accommodation has been secured at the Mount Vernon Rotel, Baltimore, from the 22d inst., for,Comm°; dore Farragut, Governors Clifford, Fish, Graham, An" Aiken, Bishop Mel!value, Messrs. Ewarts, 'Wintliron Soars, Wetmore, Bradford, Russell, and M'Allister, wb° will accompany General Grant. Those gentlemen aro trustees of the Peabody educational fund. Mrs. Eliza H. Walker, of Aburndale, and Mrs. Sarah E. Ely, of New York, have been appointed to assist the secretaries of the American board in looking after the int Tests of the children of missionaries sent to America. LADVERTISEMENT.I-11olloway's Ointment and rills.-- Lives —.flow happy would those sufferers be whosJ whole system is in danger of breaking down through th ° daily drain of discharges from ulcerations and skin di s : eases if they only knew tbat a day rarely passes withou t new cases of cure being brought to the knowledge of tie discoverer of these peerless remedies. For ulcers, sore , ' burns, bad legs, skin diseases, and similar maladies, the insufficiency of ordinary applications is admitted by all, but none thus afflicted have been disappointed iu their e.' pectations when a fair trial has been given to Hollowa)? ointment and pills. The pain and swelling attending the class of ailments will diminish daily under the cooling an soothing unguent. Births. BIRDWOOD —On the 29th ult., at Buttfleld, near Knightl bridge, the wife of M a j or -G enera l W . T. B i rdwoo d, ° a daughter. . OLIVE—On the 29th ult. ' at 25, Chester,street, the w r be of Lieut.-Colonel Clive, Grenadier Guards, of a daughte r ' MenETeN—On the 2Gth ult., at Worthing, the lion. A 11.5. R. Moretea, cf a son. Marriages. CHAPLIN— LANDELLS —On the 28th ult., at St. Luk e.o l Ch •lsea, James, th e e ld es t son o f It. J. Chaplin, Estl °, Forest hill, Kent, t ► Alice Isabella, youngest daugh t ' of the late E. Landel. , , Esq. NIELL—SPICER—On the 26th ult., at Croydon, J ol l Niell, M.D., t o M ar th a Wil son' • youngest daughter of the late John Edw a rd Spi cer , Esq., of Clapham, 111/ New Bridge-street. Deaths. ArrExponnumr—On the 28th ult., at Brampton Ash, 13 , e: 3 1r d Market Ilarborongh, James Attenborougb, Dig 7 It4' GHEE N —On the 21th ult., at 5, Kensington-palace-V '- dens, Bevis E. Green, Esq., aged 75. KNIGHT - On the 26th ult., at G rosvenor -p ar k, va— mber- N vell, Gco-ge Knight, Esq., aged 76. /dAHDE- On the 27th ult., John Maude, Esq., Csinr r- ' Leeds, aged 73. rz (Wel MOLLING —On the 29th ult. in Connaught-place, •-•° Molling, Esq., aged 85. London : Printed and Pnlished by V7ILLI.3.Ikf AN L)III' 9 . of No. 112, Strand, Print e r, a t T HE S UN WIC), of Strand, in the Precinct of the Savoy, in the Cou 1" Middleaei..—Monday, February 1, 1809.] 4 st,„,