Northern Times.
Liverpool, Merseyside, England, 1857-12-14 00:00:00

AMERIC A

FROM OUR SP:eCIAL CORRESPONDENT.

SOUTHAMPTON, SATURDAY EVENING.
O4be Steamer Ariel, en route from New York to
,a7l, arrived to-day at noon with the American-4,a11e, 160 passengers, and 30,000 dollars in specie.
aler advices are to the 28th ult.
The news is of a rather interesting character.
Governor
a. Walker had a long and friendly interview
With the President. They discussed Kansas affairs
; length, especially relative to the propriety of
sustaining the action of the Constitutional Con-
!,ention in not referring the entire instrument to
the people. The distinguished gentlemen, though
differing radically, parted friends, appointing
another interview for the discussion of the same
tiklect. Some of their mutual friends hope for
the ultimate reconciliation of their views, but
the hope is fallacious. The Governor's opinion
of the Constitution is not founded on the slavery
Clause, which is alone partially submitted,
but on the refusal of the Convention to permit
athe people to vote against as well as
lot the Constitution. He regards this as a viola-
tion of the Federal Constitution, of the Nebraska-
Itansas bill, of popular sovereignty, and of the
right of selagovernmena. The President insists
that, as the Constitutional Convention was autho-
rised by Congress, he is bound to sustain its
action, whatever it may be, while Walker holds
that the application of his doctrine to sustain the
refusal to submit the entire Constitution to the
Popular vote, amounts to a simple assertion of the
right of Congress to force any Constitution on the
Territory, instead of leaving the people to decide
for themselves ; for it is notorious that the people
of Kansas would reject this instrument if they
had the opportunity. He states that the Con-
stitution was signed by only forty-three out of
Sixty members of the Convention—those refusing
being Conservatives. The great majority even of
the Pro-Slavery men denounced the action of the
Convention as an outrageous and unendurable
usurpation. Those in the Territory who support
the Convention are believed to comprise a
ridiculously small number, and vast numbers
who never acted with the Free-Stafemen will refuse
to participate in the December election. Governor
Wa'ker has never yet seen the Constitution,
and nobody outside knows what it is. All efforts
of the Governor to obtain a copy failed. The
Committee having it in charge may make it what
ever they choose, without any popular check. There
is reason to fear that its signers will be driven out
of the territory, that it will be considered spurious,
and that the State Government never can be set
in operation under it unless by the Federal arms.
Governor Walker declares that he cannot acquiesce
in the action of the Convention without violating
every pledge he ever gave, and sacrificing his honest
convictions to make himself infamous. If resistance
is made to the establishment of the State Govern-
ment, the President will necessarily call upon the
Governor of the Territory to exercise force to put
'it down. This, with his sentiments, Walker cannot
do, and will not, nor will he resign.
The New York Times correspondent at Washing-
ton, thus alludes to the subject:—" If the President
considers it his duty to force the Constitution,
directly contrary to the spirit of the Kansas-
Nebraska Act, in support of which Walker risked
his political future at the solicitation of the Exe-
cutive, depend upon it the President will be com-
pelled to resume the responsibility of removing
the Governor. The effect of all this, if the
President persists, will be that the Executive will
find himself in a minority in both houses of
Congress, for Walker will be sustained by a decided
majority in each. He cannot be thrown out of
the Democratic Party, as were 'Reeder and
Shannon."
It has been suggestel of late, that the Adminis-
tration will insist upon an abrogation of the Clay-
ton-Bulwer Treaty, instead of agreeieg to a satis-
factory interpretation of the instrument. This,
Recording to a New York paper, is a mistake.
Mr. Buchanan, when Minister at London, only
18 months ago, repeatedly insisted that the Con-
vention should be observed according to its simple
American interpretation, which he held to be that
neither Great Britain nor the United btates should
hold any territorial possessions there, or occupy,
colonize, fortify, or exercise dominion over any part
of the five States comprising political " Central
America. If the recent significant articles of the
London Times and Post foreshadow the present
policy of the Government of England, and are to'
be understood as indicating its readiness to accept
this interpretation, and act upon it in good faith,
the President will close the negotiation upon those
terms without an hour's delay."
Senor Escalante's mission to the United States
is not deemed of any practical importance, the
treaty with Yrissari having ignore 1 Costa Rica's
right to a controlling voice in the matter of the
Nicaragua transit route, and bound the United
States to resist any attempt on her part to exert
such presumed right.
Sir Gore Ousley expects to depart for Central
America some time in the course of the month of
February, and was in the meantime seeking a
suitable house for a residence for his family, during
the continuance of his mission.
A despatch from Washington, dated the 27th
ult., says :—No arrangements have yet been made
in regard to the transmission of the President's
message in advance of its delivery. It is probable,
however, that the newspaper press will he supplied
with copies by the means heretofore adopted.
All the reports of the heads of departments are in
a sufficient state of forwardness for copying. The
cotton fields of Red River, Texas, were greatly
damaged by the late storm. Much cotton was
blown out of the bolls, and not twc-thirds of the
average crop will be gathered this season. The
yield of sugar in the same section is a fair average.
Telegraphic advices dated Toronto, Nov. 27,
say—The new Administration was forme and
sworn in tc-day. It is comp sed of Messrsd . John
A. Macdonald, Premier and Attorney-General,
Upper Cannada ; William Cayley, Inspector
General ; Robert Spence, Postmaster-General
G. E. Cartier, (Attorney General, Lower Canada ;
J. C. Morrison, lie ceiver-General ; P. M. Van
Koughnet, President. Excecutive Council ; T. J. J.
Loranger, Provincial Secretary ; N. F. Belleau,
President Legislative Council ; Charles Alleyn,
Commissioner Public Works ; and L. V. Sicotte,
Commissioner Crown Lands.

COMMERCIAL INTELLI GENCE.
NEW YORK, Nov. 27.
The Money Market shows no material changes for the
week ending this day, and the fluctuations in Stock values
show that confidence is wanting, and that capitalists are
awaiting the result of the financial crisis at home and
abroad. There is great difficulty experienced by our
merchants in negotiating paper declined by their bankirs.
The rates on paper considered strong, but not strictly
A 1, vary from 11 to 2 per cent. per month. The
Foreign Exchanges at this point continua unsettled—
the margin between the lowest and highest rates being
unusually great. While some drawers of sterling ask
1091, others are willing to draw at 107 to 1071. This
unsettled state of affairs will remain until specie, the
great regulator, becomes again quiet; and the import and
export shall discontinue. We annex the rates on the
prominent European ports :-
60 Days' Sight. Short Sight.
107 to 1094 1102 to 1111
5.30 to 5.161 5.171 to 5.8'4

London ..................

Paris
COTTON Holders are firmer ; 11 :lc is a nominal price
for Middling Upland, but it would be difficult to effect
purchases at this figare ; a small business was done on the
basi;. of 12e for good Middling Upland.
BRIUDSTUFFS : The detention of expected supplies from
the Erie Canal, gives a firmer tone to our flour market,
and today, holders opened with asking 10c advance;
they accepted, however, the full price of Wednesday,
and some 3,000 barrels super State for export sold at
5 dollars. Western and Ohio extras were quite steady.
Southern was firmer, without quotable change in price.
The sales include 800 brie Richmond City at 7 dols., and
300 brie Cross Middlings at 4 dole 90 cents to 5 dols.
Wheat.--The offerings were quite large, and holders were
free sellers at about steady prices. Corn is firmer, under
apprehensions of a continued scarcity. Western mixed
sold to a moderate extent at 87 cents in store. aad 88 cents
delivered. New Corn is sold at irregular prices.
Hors : Old are steady, but rather dull at 2c to 30. New :