The Daily Times.
Liverpool, Merseyside, England, 1861-01-14 00:00:00

AMERICA.

The Persia, with dates down to the 2nd inst.
inclusive, arrived in the Mersey yesterday morn-
ing at one o'clock. The principal items of intel-
ligence in the New York papers which are brought
by the Persia, are anticipated in the telegraphic
summary forwarded in advance from Queenstown,
to which we refer.

(From the IVeto York Herald, of lantfary 2, 1861.)
THE ROBBERY OE. THE iliTEßiOli
DEPARTMENT.
EXCITEMENT AND DEVELOPMENTS.
GENERAL-DEMORALISATION. •

The excitement caused by the news of the robbery o
the Indian. Trust Bonds at Washington, was intense all
through the city. For the time people seemed to forget
the secession movement altogether, and the itiror
considerably increased by the arrest of Mr. W. 11.
Russell as one of the parties implicated in some way in
the transaction, and his conveyance to the federal
capital. Mr, Russell (who, it may be remembered, was
the contractor for the army of Utah during the Mormon
rebellion, his contract covering several millions of
dollars) is now the head of the Overland Pony ExpresS,
is extensively engaged in the contracting business, and
usually commands a large amount of capital and political
influence.

The corruption into which all political parties have
fallen has literally demoralised all our governing bodies
to such a degree that hardly a week passes without
bringing to light some gross fraud, swindle, or defalca-
tion.of the public moneys. Between the corrupt course
of the republicans in the State Legislatures selling their
votes for gold, and backing up every lobby job, the
defalCation of State Treasurers, like those of Maine and
Vermont, and the.: frauds now and then developing
themselves among the democratic official's' of the
federal government, political parties of all complexions
have come to be a burning shame and a scandal to the
country. But this last affair, in the Interior Department
at Washington is the most, gigantic discovery of fraud
which has yet taken place since the organisation of the
Government, involving as it does—if report be true—
Cabinet officers, millionaires in New York and mit
West, and mammoth contractors, amounting to a sum
of from 800,000 to 3,000,000 dollars—for the exact
amount plundered is not yet known.
The possession of power in these days, of spoils and
plunder demoralises every party organisation, and thus we
see that when one party is about to withdraw and give place
to a new one, all at once the community is startled by
the discovery of defalcations and frauds and robberies in
public places. When Jackson was retiring, collectors,
postmasters, and other federal officers all over the country
were found to be in default, and it was so also at the ter-
mination of Van Buren's regime; and now that the demo-
cratic party of this day is about to lose its grasp of power,
to lose it, too, by the very force of its corruption and dis-
honesty, which have broken it to pieces, we see the very
same scenes re-enacted, and on a larger scale. When
the republicans are installed in power we may,.apect,
from their antecedents in the States whore they hold
office, that the corruption and plunder will be still
greater than those of their predecessors. The democrats
are, as it were, gorged with the spoils of eight unbroken
years' accumulation ; but the republicans are coming
fresh and hungry into the field to fatten upon the sweets
of the Treasury, 'Whereof they, have not yet tasted.' '
With regard to the disposal of the Indian Trust Fund.
Bonds stolen from the Department of the Interior,
nothing definite has yet been ascertained ; but it was
remarked about the time of the election that a great
quantity of bonds of the same character were thrown
into Wall-street, where, as the supply was much greater
than the demand, they of course depreciated, and are
still low—and now the cause is, disclosed. It was thought
at the time that they, were put into the market for the
specific purpose of depreciating it ; but that was absurd,
for there was ground enough for depression in the
political condition of the times after the election of
Lincoln.

In the•face of this astounding discovery, •it would be
well for Congress to overhaul all the public departments
before the republican party come into office, and endea.
your, if possible, to so reconstruct them as to put same
check upon fraud and swindling. If they do not, there
will be no limit to the corruption of the next four years,
and particularly .in these revolutionary times, when
everything like law and order and decency appears to be
thrown to the winds. ' '

THE UNITED STATES CREDIT 131tEAKING

DOWN.

Mr. Cobb left the Federal treasury in a terrible con-
dition about. a month ago. No , provision had been
made for the payment of the January interest on the
public debt, and Congress immediately authorised
the issue of five millions of dollars in Treasury
notes. A very short ' time ago the bankers would
have taken this loan very gladly ; but up to 'Thurs-
day afternoon less than one-tenth of the sum
required was offered. The Sub-Treasurer 'of the
United States finally succeeded in inducing some of
the bankers to m*e up the sum of a million
and a half at twelve per cent. per annum. The spectacle
of a great Power like the United States " shinning " for
money.in Wall-street, after the manner of a small
trader shivering, upon the verge of bankruptcy, is cer-
tainly a 'most humiliating one, and it affords the
strongeit proof of the sad condition to which the coun-
try-has been reduced by the petty politicians of the day,
who, in their mad .struggle for the federal spoils, have
paralysed the Government, brought us to the brink of
civil wear, and ruined the national credit at home and
abroad..

THE CAUSE OF THE PRESENT TROUBLES.
To what cause shall we trace the whole of this trouble
which has befallen the country, and which lenves it to-
day on the verge of civil war ? To the agitation of the
anti-slavery societies; to Wendell Phillips, Garrison,
and those men who have embodied their fanatical ideas
and abstractions in political aotion; to 'the preachers
and orators of the republican party, like Beecher, and
Greeley, and the rest of them.. It is these men who are
responsible for the desperate position in which the
country is placed at the present hour, and the still more
terrible condition to which it may be reduced in the
dark and perilous future.

THE SIGNING OF THE SECESSION
ORDINANCE..

The Charleston Mercury thus describes the
scenes attending the signing of the Secession
Ordinance :

The scene was one profoundly grand and impressive.
There were a people assembled through their highest
representatives—men most of them upon whose heads
the snow of sixty winters had been shed—patriarchs in
age—the dignitaries of the land—the High Priests of
the Church of Christ—reverend statesmen—and the
wise judges of the law.. In the midst of deep silence,
an old man, with bowed form and hair as white as snow,
the Rev. Dr. Backman, advanced forward, with upraised
hands, in prayer to. Almighty God, for His blessing and
favour in this great net of His people about to be con-
summated. The whole assembly at once rose to its feet,
and, with hats off, listened to the touching and eloquent
appeal to the All Wise Disposer of events.
At the close of the prayer, the President advanced with
the consecrated parchment upon which was inscribed
the deeision of the State, with the great seal attached
Slowly and solemnly it was read unto the last word—
"dissolved," when men could contain themselves no
longer, and a shout that shook the very building, rever-
berating long-continued, rose to heaven, and ceased only
with the loss of breath. In proud, grave silence, the
Convention itself waited the end with beating hearts.
The members of the Convention then advanced, one
by one, and placed their signatures to the ordinance,
after which, amidst the most tumultuous applause, the
President proclaimed the State of South Carolina a
separate, indepeudent nationality.

COTTON.
' (From W. P. Wright 4- Co.'s Circular.)
NEW YORK, Dec. 31, 1860.
The political movements in the South and at Wash-
ington become daily more complicated. The probabilities
are in favour of other States following the example of
South Carolina during the coming month, which must
tend to interfere with the movement of Cotton. This
fear we think has had some influence in stimulating the
dejnand in all Southern markets, particularly during
the past week. The sales have been large, prices fully
lc, per lb. higher, freights firmer, while the improve-
ment in exchange is trifling. Receipts continue to fall
off as Compared with last year; crop views decidedly
below four millions; exports free, comparatively. The
money market in New York is very much easier. Ex-
change on London slowly but steadily improving; the
late free buying of Cotton keeps the market well sup-
-plied with low priced exchange, and our importers owe
less to 'Europe than usual, hence the moderate demand
and slowness to advance to the specie point. It is con-
fidently expected we shall touch that figure in the course
of a few weeks.
In this city we have had a further advance of 4c per
lb., owing in part to our small stock, and the improve-
ment in all southern ports, but in a largei degree to the
maintenance of prices in Liverpool, and the possible
tuin of political affairs in the south in such a manner a4i
to interfere with the receipt and export of a large por
tion of the crop remaining in the country-. Our market
i is poorly supplied, and likely to remain so for some time.
Spinners have bought' moderately, and do not under-
stand the advance. Exporters have taken freely all cot-
ton offered at fair market prices. Holders at the close
of ,the week' advanced their pretensions and checked the
business. The sales for the week have beei 12,000
bales, closing with firmness at the annexed quotations,
which show an advance of fully je. per lb. The clear-
ances for the week have been—to Liverpool, 4,474 ;
Glasgow,- 598; Havre, -1,497; Hamburgh, 317 ; Ant-
werp, 262. Total, 7,468 bales.
PA-4 P.M.—The Kangaroo, with advices to the
30th instant, arrived this morning; her accounts are
considered favourable, particularly for cotton., Holders
in this -city have again advanced their pretensions, and
it is difficult to y at the quotations. We look for ,
inereased. activity •at the South, with a further advance
in price.
By telegraph the following has:been received :
New Orleans, Dec. 29.--Receipts for the week, 60,000,
bales (net) ; same week last year, 84,000 bales. Sales.

•
for the week, 62,000. Middling, 111 c. pen lb. Export
for the week—to Great Britain, 36,000 bales ;to France,
9,000. Stock on hand, 344,000 bales. Exchange on
London, 100 to 101 per cent., and, with bills of lading,
96 per cent. Freight to Liverpool, Nd. per lb. P.M.—
Sales to-day 10.000 bales, marked firm.
Mobile, Dec. 29.—Receipts for the week, 26,000
bales; same,week last year, 36,600. Sales for. the week,
27,000. Middling, 10c to lie per lb. Stock on hand,
162,000 bales. Exchange on London, 102 to 'lO3 per
cent. Freight to'Liierpool, -241 per lb. P.M.—Sales
to-day, .4,600 bales at firm prices.
Receipts.—The deficit reaches 524,000 bales; nest
week A fUrther ;,50,000.0r so-must be dded. The,action
. ,of the conventions the Vario.ns ,Southern States at
their meetings during January will be closely watched.
If resolutions of secession pass, which 'at the lan-lent
seem More than probable, the movement,of cotton to thee
seaboard of each seceding State, must be interfered with
for, a time, 'at *least. Planters will not risk their pro-
perty. out of their hands, nor will buyers run the risk of
having vessels sail without a clearance frbni the officers
of the Federal Government.

;Experts• continue On a fair scale, France and the
Continent getting more
,than the corresponding week
last year. The decrease to Great Britain stands at
131,000 bales I, to France, 17,000. To other foreign
ports there is an increase over last year cf 11,000 bales.
The stock on hand at all the ports is again considerably
reduced, and is now 585,000 bales, against 968,000 and
712,000 at the corresponding periods of the last two
years.

The following is a statement of the, movement in
cotton since the Ist September last, ,'as compared with
the previous four years :-
" 1860. 13,19: 1838. 1857. 18.56.
Rec. at Ports... 1619,000 2,143,000 1181;000 1,051,000 1,480,000
Ex. to G. 8.... 693,000 824,000 537,01)0 334,000 812,000
„ France 177,000 194,000 249,000 111;000 141;000
„ other F. P. 102,000 91,000 132,000 84,000 88,000
Total Exports...• t 972;000 1,109,000 918,000 529,000 551,000
Stock•on hand .583,000 958,000 712,090 532,000 695,00)
Of which, during the past week, included in the above :
Rec. at Ports ... 101,000 199,000 143,000 102,000 148,000
Ex to G. B.
„ France
„ other F. P 13,000 9,000 19,000 7,000 11,000
TOttil raiorts
- • • -

Summary. —Receipts t Decrease at the ports compared
with last year, 524f000 bales: Exports t Decrease to
Great Britain, 131,000 bales deem's° -Prance}
17,000. hales; increase to other foreign ports; ii,ooo
bales. Total decrease in exports, 107;000 bales;
Freight: To Liverpool engagements hire teal Midi,
for Cotton at 5-16 d to -Id per lb., and to Tlailfei 16:
Exchanges : On London 1041 to 105 per cent., and
on Paris 5.371 to 5.50.

LIST OF • PASSENGERS BY THE PERSIA.—The follow-
ing passengers arrived in the Persia from New York :
Mr. John Kirkby, Mr. and Mrs. T. O'Reilly, Mr. and
Mrs.'T. A. C. Cochrane, Mr. D. Finlayson, Mr. E. S.
Godkin, Mr. N. C. Wooster, Mr. P. A. Moore, Mr. J.
P. Brown, Mr. William Gust, Mr. John Murphy, Mr.
A. Uhde, Mr. 0. Earle, Mr. George Shaw, Mr. H. C.
Jarrett, Mr. B. Trieste, Mr. H. L. Simon, Mr. H.
JOnas, Rev. L. C. Leelye, Mr. Charles C. Alden, Mr. J.
Roberts, Mr. J. B. English, Mr. and Mrs. H. Mortimer,
Mr. Cross, Mr. John Jones; Mr. Hewlett, Mr. ~John
Brooka, Mi.. Hopkins, Mr. R. J. Southworth, Mr. H.
Loeb,. Mr. J. F. Cantwell, Mr. P. Reese, Mr. James
Picken, and Mr. and Mrs. Pearson and infant