The Express.
London, England, 1867-07-29 00:00:00

LONDON, MONDAY EVENING, JULY 29, 1867.

AMERICA.

(BY ATLANTIC TELEGRAPH.)
NEW YORK, JrLT 27, 6 P.lll.

The steamers leaving to-day for Europe take out
1,500,000 dole. in specie. The Coltunbia has ar-
rived out.

Closing prices :—Gold, 140. Sterling exchange
on London, 110. 5-20 United States Bonds, 1111.
Illinois, 118 ; Erie, 76k. Cotton : Middling up-
land, 271.
PHILADELPHIA, Jun. 27.
Standard white petroleum, 33.

(FROM OUR SPECIAL CORRESPONDRET.I

NEW YORK, JULY 12.

Fuller accounts from Mexico begin to corns, ser-
rating the events of the few days preceding and
following Maximilian's surrender. The thirst for''
blood and the disposition to " confiscate " seem to
be subsiding somewhat, and Juarez has restored
something like order in the city of Mexico ; bpt
the system of forcing loans from foreigners as s
means of raising revenue appears to be as much in
favour as ever. In fact, a sort of fanatical hatred
of foreigners appears to be taking possession of all,
classes of the population, and to promise before
long to drive all but the lowest and most despicable
class of foreigners out of the country. The beauty
of all this is, that the Mexican press is now be-
coming as saucy to the United States as to all other
powers, and resents the interference of this govern-
ment on behalf of Maximilian as very like an in-
sult. The lending liberal paper, the Pajaru Rojo, has
come out with a vigorons denunciation of Ameri-
can interference on behalf of the prisoners—sap
that whatever moral influence this country exerted
against the French, was exerted as much for the
sake of the United States as that of Mexico, and
gives the former country plainly to understan4
that foreign opinion of their doings, is a matter Of
complete indifference to Mexican patriots, and that
whether they murder or rob, or raise forced loans,
they will do all in obedience to their own sweet
wills. The public disgust with their performances
increases here every day ; although the account
of the late war and its causes, which is appearing
in the New York Times in a very clear and succinct
form, from the pen of Mr. Raymond, the editor,
does undoubtedly present the conduct of the French
in a very odious light.

The new bill amending, or rather supplementieg
the Reconstruction Act, which has passed the
house, and by the time this reaches you will be a
law, simply declares what were the true intent and
meaning of the previous acts; pronounces the
state governments null and void, gives the district
commissioners complete control of their district%
and provides that the taking of the test oath shall,
only be prima facie evidence of a man's right to be
registered, and that the commissioners shall bi
untitled to make still further inquiry as to MS
qualifications if they deem it necessary.
The President will, of course, veto it ; but be
will probably do so at once. The session will,
therefore, most likely be over in a few days. All
attempts to secure general legislation have failed,
and ao have all attempts to get a report from the Im-
peachment Committee and have it acted upon. The
project must, one would think, be now definitively
abandoned. Congress will adjourn till November,
which, beyond a doubt, means the ordinary time
of meeting in December. Very wild resolutions,
as usual, continue to be introduced in the house.
One of the last proposes to take Stephen J. Meany
out of his British prison by force, " even if in so
doing it be necessary to trample under foot the
nation which keeps him confined." So you had
better be prepared for the worst.
The accounts of the crops continue to be exceed-
ingly good. The promise at the North, as I have
told you before, was never so fair ; and the rumours
of extensive damage to the cotton crop at the
South, which were rife some weeks ago, are dying
out. The story was that the heavy June rains had
worked havoc with it in every direction ; but
the later accounts show that it is really
only along the river bottoms that it has
seriously suffered, and this only in some
&stride. The effect of this cheering prospect on
prices is likewise anything but cheering for holders
of gocids. The produce dealers who have hoarded
during the winter are greatly depressed, and so are
the dry goods men. The latter counted confidently
on a heavy trade with the South last year, and ac-
cordingly laid in large stocks. The failure of the
cotton crop, however, and the delay in political
reconstruction, prevented the South from reco-
vering, and it is, perhaps, as little able to purchase
goods at this moment as ever it was, and the ware-
houses at the North have, consequently, for the last
twelve months been bursting with goods for which
there was no sale. There have, nevertheless, been
astonishingly few fail u res,everythingconsidered,and
the promise of the crop is consoling everybody. More
than this, it is undoubtedly doing much to allay
political bitterness, and make the reconstruction
process work easily. The republican party at the
North are now fully satisfied that all the Southern
States will come peaceably into the Union under
the present bill. But they are also satisfied that the
i
i old malignanta who are accepting reconstruction as
I a bitter pill which has to be swallowed are in
I great force in all parts of the South, and that their
efforts for some time after their admission to Con-
gress will be directed strenuously to undoing all
that has been done, short of the restoration of
slavery. The union party at the South, even in
those States in which it happens to be in a majority,
will be largely composed of negroes and persons
who have had no experience in party organization
and in the conduct of political contests. They
will have arrayed against them, too, the most skil-
ful party tacticians the country has produced;
and, under these circumstances, it would not to be
surpxising if the minority iu many places carried
the day.
To make provision for this state of things, a Re-
construction Association has been formed in Massa-
chusetts, and it will probably extend its ramifica-
tions over the country, the object of which is to
; aid the Southern unionists at the coming state
' elections, as well as at the great presidential con-
test in next year, with Northern experience,
Northern money, and Northern speakers. There
is no doubt that for a year or two a large body of
the negro voters will have to be literally fought for
iby the two great parties, so great is their igno-
-1 ranee of the political questions of the day, and so
liable will they be to be cajoled by their old mas-
tars or present employers into voting against their
friends and against their own interests. What makes
.
i the matter all the more important is, that it is not
unlikely that the negro.s will adhere for long years