The Express.
London, England, 1861-12-02 00:00:00

TILE EXPRESS, MONDAY EVENING, DECEMBER 2, 1861.

sunk to a mere fraction of their ordinary amount.
The American trade has consequently lost
many of its most valuable features as
regards our interests. On the other band,
the Americans would law immensely, for, in
proportion as the character of the present
trade is less advantageous to us, it is
more beneficial to them. The millions of hard cull
that we parted with, to our great inconvenience,
some mouths beck, went to then,. If they force
war upon us, they wantonly stop the influx
of gold—of wealth in its most tangible form.
It is only the one-sided character of their
trade that has enabled them to keep up
their stocks of specie, particularly in the New
York banks. Whilst the Federal Government
have been making huge cash disbursements, and
whilst the Western and North-Western States,
denuded of their old rotten currency, have been
providing themselves with specie from the great
Eastern depots of New York, Boston, .I:c., the
latter have had the void thus occasioned Weems
santly supplied by the influx from abroad in pay-
ment for the huge exports of grain, flour, and
other commodities, combined with the steady re-
ceipts from California, nearly the whole of which
America has been permitted to retain.
We have shown that America commits the
strange error of raising this quarrel at a moment
when such a course is peculiarly injurious to her
commercial interests and singularly powerless to
affect us. Another consideration in the same direc-
tion is, that the balance of what would be called on
the other side of the Atlantic "floating indebted-
" ness,"as between the two countries, stands in our
favour to an extent rarely witnessed. Under ordi-
nary circumstances very large sums are due to

this country from American houses, but there
is reason to suspect that the balance may now
stand the other way, as is indicated by the very
fact that they have taken so small an amount of
goods from us, while we have received such enor-
mous consignments from them. We shall not,
therefore, have English houses thrown into em-
barraasment through the withholding of what is
due to thorn. Again, had the dispute arisen at
this time last year, when our harvest was
lamentably deficient, and when America was
our great purveyor of food, famine prices
might have reigned in this country, and
fearful privations have been imposed on
the poorer classes. But now that we have had a
moderatelygood harvest, America has far more need
to sell her large stores of food than we have to
buy them. If she be so mad as to stop this
trade, she cuts off her own sustenance, not ours.
We have not alluded to the position of the
American bankers, who, apart from other
causes of difficulty, hold the 30,000,0001. sterling
of securities already created by the Government
for the purposes of the civil war. As purveyors
of the sinews of war, they ought to have an in•
fluential voice. We entreat them to let it ha
heard at the moment most propitious for arresting
the course of the Government towards a commas
ruin.

We were not premature in warning our readers
spinet participation or entanglement in the great
eotton speculation. The market at Liverpool has
been declining throughout the past week, and has
really been merely nominal, for it has been scarcely
possible to eslL Holders kept of as good cheer as'
they could until Saturday, but the telegrams dated
Saturday afternoon (as we write we have not ye'
mired the leases) show that the market is at last
fairly prostrated. Friday's prices were considered
id. per lb. below the previous Friday's, though to
sell was difficult ; but the quotation► on Saturday
are vaguely described in the telegrams ea id. to
ld. per lb. lower than on Friday. This is a severe
fell. We fear trouble will occur in that quarter,
but it will of course be partial, and have its com-
pensation.

"The cabinet," says the rinses, "deserves credit
for having we promptly taken its molatiom. At its manias
an Friday Lard Rowell was directed to prepare a dispatch,
and on Saturday Mainers rot epic to revise it, sad Golly
settle its tams. So settled, and approved by her Majesty,
it was seat yeslardsy by • mono to Qametem, and
will anive at Washington within twelve days' time. We
understand that this easamanicatios, tboagh coached in the
IMO* larigwage, vary properly presumes that the Federal
goverment will sot rains to make honourable reparation
for aa illegal act."

The organs of the "Young Ireland party" have
been thrown into Dyeing-los from joy at the prospect of •
war between England and America. The liatiqn rys the
capture of the commissioners on board • British Mesmer
was an "net worthy of the spirit, daring, and dub of the
Americans; it was one to make Irish bears jump with joy."
*The news," eent;aties the same organ, "has created wild
szciteaseat and enthusiasm in Dublin, and it will awake.
Mauls: feelings sad serations throughout the whole cons-
I try." If the Ihiglishgoverament resent the insult, then we
me told will some " • great time for Ireland. Then will
UPI VIM who anyone With a reayeciacc prove vengeful mall
Weed. Then will the Irish race in America rush to arms
nod bound into the battle."

Mr. Disraeli passed through Newcastle and Sun-
derland on Friday, en route for Meehan% Hall, the residence
of the Marchioness of Londonderry. The right boo. genUe-
man was not expected in the town, and the carriage@ of the
marchioness being unpuocttud, he spent some time ia
parading the froot of the station, entering freely into con.
venom-xi with some of the bysteeders. It is expected that
Mr. Disraeli will attend the inauguration of the London-
derry mainmast at Durham to-day.
AMIDRIIT TO LORD DACll.—News bait been re-
vival of a severe accident which has just happened to Lord
Dean. whilst shooting in the Highlauds. ft appears that
his gilly was heeding to him his gun, when the latter acci-
dentally went off, daecharging its cadent% right through
his for ship's area, which is seriously injured. Lord Deere
bad four miles ha walk before medial mistime* weld he.
THE ROYAL 130CIPTY.—The fellows of the Royal
Society assembled in eessiderable numbers at their east•
versery meeting on St. Andrineeday, • meeting more than
venally interesting, as Air Benjamin Brodie, the president,
then delivered his farewell address on resigning the chair.
The attention with which the eminent baronet's wade were
heaped to marked the feeling of respect and admiration
for his character that prevails among the gaiety over whom
be has so well presided. After the delivery of the medals,
the meeting proceeded to ballot for cranial and officers for
the ensuing year, and the following were declared duly
elected :—President : Major-General Edward Rabies, HA.,
D.C.L., LL D. Treasurer: Allen Miller, ILD •
LL.D. Secretaries: William Sbaray, M.D., LLD.: and
George Gabriel Stoke; MA.. D.C.L /Weir 84••••• rt
William Hallows Mills,, M.A. Other members of t e
council : John Comets Adams, M.A., D.C. L. ; Sir Williant
Goo.-n Arrrnitrotni. els.. Benjamin Guy Babington,
tar 14.n)notio tallies Brodie, Bart., D.C.L, Norge
Holnller Buckton, William Bet Jamie Carpenter, Sir
Philip de Malpas 0. Favrton, flan, Williaea Fairhaire,
LL.D., °Wain Douglas (:ahm), R.R, William Robert
Grove. Q.C., William Hopkins, M.A., LL.D.,
John Lubbock, James Paget, Joseph Praderieb, Wil-
ber) Syntlhonondo. M.A., and Jetts 'Praha The
inrovereary dieser of the fellows end their friends was
held at St. James's Hall. Amos( those prement were
General Sabine. the presidr at elect ; Dr. flberpey. Profemor
f44olten, and haennor W. 11. Miller, the noorolaries ;
Dr. W. A. Miner, the newly-elected Weenier of the i
misty : the Lord Mayor. Air Charles I:imbibe, President
of the Royal Academy ; Sir Roderick Mumbles., Rev. Dr.
Robinson, Mr. Itichinettl, Sir John Hensler, General
Baleen, Admiral Fitzroy, Dr. ranter, Pr0f....,
Sylvester, lir. filadetoce, I 1 Adhere, hormone J. Couch
Adams, Sir Henry Hairlines, Carmel Laney, Lord Elln-
men, Mr. Tike, Mr. flopwitb. Mr. Gasia, Mr. Robert
Manses. Mr. Preetwirh, Mr. Edward Somalis, Mr. Busk,
Mr. Arebilaid Serlith, Ira

Tin ware Kam To All IMICA.—This morning
(Nosey) the Peahmseter-Geoeral gave notice to the public,
at the eisief ease la St. Ilartio's4e-Grand, that the next
malls for America would be demetched from London cm
Wedamday. this 4th proximo. 'lts following is a copy al'
the eotice :—" Wednesday morning, the 4th lust ' a
mail to America --te New York—will be made up amide-
witched from this office, for transit by packet rid South-
amptos. le the evening of the same day another mail to
Americo yid New Yak will be mot by United States packet
yid Cork."

LAT}T INTELLIGENCE.

AMERICA.

THE SAN JACINTO AFFAIR.
OPINIONS OF THE AMERICAN PRESS.
QUEENSTOWN, Dr.c. 1.
The Royal Mail steamship Persia arrived at
noon, from New York, 20th ult. She brings
eighty-six passengers and eighty-six sacks mails.
She experienced very strong easterly winds, with
heavy head sea, all the way across.
The steamers Norwegian, City of Manchester,
and United Kingdom have arrived out. The Asia,
hence, off Cape Race, 17th ult.

LIVERPOOL, MoirDAT.

The Persia arrived here at 9 o'clock this morning.
The American account of the Trent and San
Jacinto affair agrees mainly with that of
Captain Moir, but it is represented that all
the documents of Messrs. Mason and Slidell
were seized. The indications were that Captain
Wilke acted on his own responsibility, and on the
ground that although he may not have acted within
the strict letter of the law the end would justify
the means in the eyes of his countrymen.
A cabinet council was held on the subject at
Washington, but the result had not transpired.
A Washington telegram in the New York Herald
says that when the information was first com-
municated to President Lincoln, he declared em-
phatically that Messrs. Mason and Slidell should
not be surrendered, even if their detention should
, cause a war with Great Britain.

From the same source it is stated that the legal
advisers of the Federal government not only com-
pletely justify the proceeding, but even furnish
authority for the seizure and confiscation of the
Trent.

The New York Herald, of the 17th Novem-
ber, says —" We have a precedent in the
action of the British government itself, in a
precisely similar case, in the Irish rebel-
lion of 1848, when the person of Terence Bellew
M‘Manne was forcibly taken from an American
ship in the harbour of Cork, where he had taken
shelter under the stars and stripes. [}l4Manwt was
a condemned rebel, and the ship from which
be was taken was in a British harbour,
and not on the high seas.) But it was
I evident Commander Wilke was not authorised
to make the arrests on board of a British ship ; and
it is more than probable the government will dia-
-1
lavow the proceedings, apologise for it, promising
to do it again, and, perhaps, reprimand the
naval officer for permitting his seal to outstrip his
discretion. This is all, we think, the English
government can fairly demand, if it ever does make
any demand on the subject. As for giving up
Mason and Slidell now that they are in the hands
of our government, that is another affair, and alto-
gether out of the question."
The Herald of the 19th, in an editorial article on
the same subject, says :—" It is the duty of the
government to make preparations for emergencies.
There is little probability that England will care to
risk hostilities with us. It has too little to gain and
too much to !ON by fighting with the United States ;
bet we might, nevertheless, to be hilly provided
against any contingency that may arise. Congress
is on the eve of assembling, and the President in
his message, should call at once for 500,000 more
men, and appropriations to build as rapidly as
possible several hundred vessels of war."
The World does not believe that the
British cabinet will make any complaint,
but if it does the American government
can fully justify it by the awe of
the American steamer Caroline which was destroyed
by British of in 1837. The New York Times
also believes that Englandjwill not even remon-
strate, but, on the contrary, will applaud tho gallant
act of Captain Wilke as an exact imitation of the
policy she has always stoutly defended and pur-
sued. The Times admits, however, that Captain
Wilke was wrong in not taking the Trent into port
and getting her condemned for carrying contraband
of war.

Some of the New York journals speak of the
probable necessity for apologies and reparation,
even to the sending of the prisoners back, but
others argue in a totally different strain. The
New York Journal of Commerce says it was purely
an act of grace that the British merchantman was
allowed toga free, and that it is far from likely that
England would bother herself with any complaint
'from her captain, who escaped with his vessel and
cargo from the fate of which the Queen's proclama-
tion warned him. Great stress is laid in some of
the arguments against that clause in the Queen's
proclamation which prohibited British vessels
from carrying officers, despatches, Ste., for
the service of either party, and it is
asked if British ministers, in the face of
such a proclamation, can protect the Trent in her
conveyance of rebel emissaries and rebel des-
patches.
The Washington correspondent of the New York
Times states that Lord Lyons bad expressed his
opinion that Messrs. Mason and Slidell would be
given up to England.
The New York Herald had published the fol-
lowing version of the arrest :

Fortress Mooros, Nor. 15.

The United States steam frigate San Jacinto, Captain Wilkes, arrived in the Roadstead at half-past twelve p.m.,
bar* on board the rebel commissioners, Slidell and
Yawn. They were taken from the English mail steamer
on the Bth inst. off Bermuda. Lieutenant Fairfax and
thirty-five armed men went from the San Ja
elide with five officers, who boanled the
steamer and picked out the commissioners.
Messrs. Slidell and Mason made feeble resistance, but were
induced to leave with Lieutenant Fairfax. The captain of
the steamer raved and swore, called the United States
officers "piratical Yankees" and other abusive names. One
of the secretaries of the rebel commissioners, named
Hosted or Huntace, also showed resistance; but himself
and colleague accompanied their employers to confine-
ment. Mr. Slidell had his wife and four chil-
dren on hoard, who were allowed to proceed to
Europe. Commodore Willies came ashore and had a
lengthy conversation with Osman' Wool. He ermined
his opinion that be bad doss right, and said that, right or
wrong, thes men had to be secured, and if he hail done
wrong he could do no more than be cashiered for it.
When it became known that these two worthies were in
Hampton Roads, the excitement was immense.
Some reported that quarters would be provided them
cm the Rip VA" bat either the frigate will proceed to
New York, or some other vessel will be sent there with
the prisoners es board, and deliver them at Fort La-
fayette.
_ _

Mows. Slidell and Mason have been taken to
Fort Warren.

The Georgia planters have held a convention, in
which it was resolved that if the present cotton
crop remain unsold they will not plant any cotton
next year.

The steamer Fingal is reported to have arrival
at a Southern port with a cargo of ammunition.
The British barque Deobey (I), which arrived at
New York for provisions, has been seized for an
alleged violation of the blockade.

General Dix has landed 4,000 troops on the
fasten' shore of Virginia, and has named a procla-
mation guaranteeing constitutional rights to loyal

inhabitants. It is reported that the Federals were
well received by the people of Decomac and North-
ampton Counties. The Confederates have assembled
in force at Big Bethel, and an attack on Newport
News is expected.
There is no war news of special importance on
the Lower Potomac. The Confederates still open
their batteries on ships coming up and down the
river. General Hallock has assumed the command
of the army in Missouri. The entire Confederate
force under General Floyd have abandoned their
positions, near Gouley-bridge. General Rozen-
cranz intends making a forward movement as soon
as the necessary arrangements can be made. The
Federals have evacuated Beaufort, but that place
had not yet been reoccupied by the Confederates.
The latter threatened to burn it should the Union-
ists remain in occupation. The Federal fleet was
still lying off Beaufort. The Confederates had
attacked the Federals at Santa Roes, but were re-
pulsed. The Confederates in Accomac, county
Virginia, have laid down their arms, and claim
Federal protection. The Secessionists have taken
possession of all the locomotives and machinery
belonging to the Baltimore and Ohio Railway. They
also tore up the double track for twenty miles.
Jefferson Davis and Alexander Stephens, the Pro-
vincinl President and Vice-President of the Con-
federate States, have been unanimously re-elected
for six years for their respective offices.
. _

Advioee from Havannali are to the 15th nit. The
Spanish expedition for Mexico was waiting in the
harbour for the remainder of the fleet. The French
war steamer Lavoiser was still in port. Cotton
cultivation was still occupying attention in Ja-
maica. The experiment had failed in some parts
of the island.
The Saxonia has arrived out.

The daughter-in-law of the Duke of Saldanha
has been received into the catholic church at the
English College at Lisbon.
Exchange on London at three months is quoted
531 ; on Paris, 530 ; on Hamburg, 48; on Amster
dam, 42.70; on Genoa, 528. Three per Cent.
Rentes, 47/. Coupons, 471, ; Deferred, 411.
Lisbon Bank, 587 ; Oporto Commercial Bank,
258 milreis ; Oporto Mercantile Bank, 258 mania.