The Sun.
London, England, 1862-06-25 00:00:00

upon the original agreement ; and ppared a draft ( LATEST'
deed in accordance with it, which they
forwarded to Sir CHARLES WeD. This, he
sends to Madras, with a leer he would
not permit the company .to see. It is greatly,
therefore, to the credit of the fitter that they
have made one more attempt to induce the
Secretary for India to act cordials with them, and
have transmitted to him a letternntaining a final
offer on the basis of conciliatin. With great
liberality they propose to limitthe Government
guarantee to the original millio; but the Govern-
ment is to have the advantage a its being a first
charge on the whole returns ; thee, that is from the
unguaranteed capital included, hus lessening the
Government risk. The effect of mother part of the
arrangements is that the Gownment shall be
promptly repaid any advances t may make ; and
that if the profits exceed 12 )er cent., which is
the ordinary Bazaar rate of irterest in India, the
Government is to share equally with the company.
When to these very libera! offers we add that
the district is so peculiarly favourable for the
growth of cotton, that the Caton Supply Associa-
tion have memoralised Sir C.WooD earnestly for
his countenance, we think ye have shown that
this is in every way a case inwhich public opinion
ought to be strongly expressea. It must—if the long
delay be yet further lengthened, and that while
India is starving for want of water and Lanca-
shire for want of cotton—it must be brought before
the House of Commons. We cannot conceive of
any public reasons which can influence the Indian
Secretary. Private ones are equally out of the
question. Whatever they are, water for India
and cotton for Manchester, cannot wait for Sir
CHAR. WOOD. unless he can. can tell us the reason
why.

ALGERIAN COTTON, LAND, AND IRRI.
GATION COMPANY.

gard's army.

Tennessee is confirmed.

from home.

E

W S.

AMERICA.
,eERLII.OHEMIAN, BY TELEGRAPH TO QUEBEC AND

FROM LONDONDERRY.)

NEW YORK, TUNE 14.
The New York World strongly opposes the fur•
ther issue of 150,000,000 dole. demand notes.

The New York Journal of Commerce says that
if evil follows ultimately, as it is almost sure to do
in every case of violation of sound financial prin-
ciples, it is to be hoped that its approach will be
so gradual that all will be prepared for it.
It is reported that 30,000 bales of cotton have
been burnt in the neighbourhood of Memphis. An
application has been made to ship 6,000 bales from
Memphis.

The Secretary of the Navy has sent a letter to
Congress suggesting the establishment of a navy
yard in the valley of the Mississippi for construct-
ing iron-plated ships. He says :
"It is a duty as well as a necessity to make the
United States a great naval power. Experience
admonishes America not to let war come upon her
unprepared; yet war may now be pending. The
calamity that might follow neglect should warn
America to be prepared. It. is no longer doubtful
that the future safety of America is dependent on
her naval strength and efficiency. America can
now commence the construction of a navy adapted
to present times under as favourable circumstances
as any nation. No nation can have the advantage
over America if she now avails herself of the means
and opportunity."
The Federals occupy James Island, near Charles-
ton, under the protection of the gunboats.

c0va5a5.r............... ... .0.1.6.1.a0.1.va." ......... ......r..4.2. 4
have been reinforced with 30,000 men from Beaure-

Federal Commodore Dupont thought the attack
on Charleston could not safely proceed until the
Federals were reinforced.

The reinforcement of the Confederates in East

COMMERCIAL INTELLIGENCE,
NEW YORK, JUNE 14, EVENING.
The Saxonia and the City of New York, sailing
to-day, take 1,800,000 dols. in specie.
The China and the Bavaria were intercepted off
Cape Race on the 14th inst.
Money abundant. Gold 5& prem.
Exchange advancing. Bankers' bills 1161.
Stocks advancing. New York Central, 954; Illi-
nois, 64; Erie, 384.
Cotton steady; middling upland, 312 c. Flour
heavy, and sc. lower. Wheat dull. Corn declining.
Provisions inactive. Coffee steady. Sugar quiet.
Molasses, good inquiry.

MEXICO.
NEW YORK, JuNE 14.

Intelligence from Mexico states that the French
have fallen back to Orizaba. Another fight took
place near that town between the Reactionists
and the Liberals, the French supporting the Reac-

tionists.
Both sides claim the victory.
The French are awaiting at Orizaba instructions