The Sun.
London, England, 1862-06-11 00:00:00

PRICE ..... -...4d.
STAMPED ....sd.

FINANCIAL CONDITION OF NEW YOI?K

The commercial advices from New York this
week show that, although the ignorant confidence
of the multitude in the paper issues of the Govern-
ment was still almost undiminished, many of the
more shrewd financiers were preparing for the ap-
proach of the inevitable crisis. A curious specula-
tion had ()Jinn in bills on Yurope, which were now
being bought for time, like stocks and shares. Some
of the contracts arc for tills to be furnished four or
six months hence, and in other cases they are to be
supplied at one month's call. These transactions
are cquvalent to purchasing specie at present prices
to lre, deli vered at a future date. Meanwhile com-
mercial business, except in the exportation of grain
and provisions, 'which is being carried on to an.ex-
tent that must leave the country in a precarious
condition if the want of labour and any adverse
condition of the weather should affect the crops
during the coming seasons, was completely
stagnant.
The traffic on the railroads, however, owing to this
movement of produce, combined with the transport
of materials for the army, was, on the whole, not
unfavourable. All the hopes of a revival of business
from the removal of the blockade of New. Orleans
appear to have been disappointed. "There is," it
is said, " not a sign of our being able to
induce the inhabitants to trade." Under these cir-
cumstances it was more than ever difficult to find
employment for money in the discount of commer-
cial paper, and the Government could, therefore,
borrow with undiminished facility. The Treasury
had consequently issued new invitations for de-
posits at 4 per cent. for not less than 30 days, and
then at 10 days' call. By this means, and the un-
limited issue of certificates of indebtedness, the
Government avoid fresh loans, and the public are
at the same time assured that the public debt on
the Ist of July will be much less than has previ-
ously been stated: There is no real doubt, how-
ever, that the worst estimates hitherto put forth
will be fully borne out when all outstanding liabi-
lities are fairly included. Predictions of the date at
which the rebellion is to be crushed continued to
be put forth with equal confidence but with less
precision than formerly. If victory is secured both
at Richmond and Corinth, the war is to be wound
up in three months—the old 90 days ; but if the
Confederates succeed at either of these places, " it
may be prolonged for two years." The return to
France of the French Secretary of Legation at
Washington has given rise to conjectures, and the
article on mediation in the Paris Constitutionnel of
his morning may possibly have been inspired by
.he information brought home by that personage.

4 FRENCHMAN'S OPINION OF THE
DERBY.

M. Amedee Achard, a htterateur of a differen
stamp from M, Assolant, has given, in the Journal
des Debats, an interesting account of the Epsom
races. in his reflections on the fact of a vast
assemblage of people where gendarmes, troops, and
sergens de Tulle were not required to keep order, he
says :
" If a savage were told that 100,000, 200,000, or 500,000
persons consented without being forced to do so to move
along a road during four hours in the morning and five
hours in the afternoon, exposed to the sun and enveloped
in dust, for the sole purpose of tasting a pleasure which
asted (watch in hand) but three minutes or so, would he
not, in his rude simplicity, think that those 600,000 civi-
lised beings were all mad ? The case of madness apart, one
can only explain the Derby by a conviction that the horse
is a creature superior to man. And yet there is something
grand and superb in that only great annual festival of Eng-
land. We feel the mighty breath of a people who, from the
Tory to the Radical, from the lord to the cockney, feel the
same passion, the same instinct, at the same moment and
on the same spot, The gentleman, the soldier, the peasant,
the sailor, the shopkeeper, the rich, the poor—all are of the
same blood, all of the same race, all thorough Englishmen.
They are all as but one man. With these unanimous feel-
ings, with these passions—the same in high and low—a
nation is made. One tl ing by its very silence characterises
the English people. There were at Epsom that day per-
haps 10,000 vehicles of every kind ; and yet you did not
hear the crack of a single whip. Why, a single carriage
descending the Champs Elysces after the races at Li
Marche makes more noise than all of them, It is an ava-
lanche which thunders along. Here 20,000 wheels and
40,000 horses, conducted by 15,000 grooms, flew along like
a rivulet. When the disorder is here on the surface de-
pend upon it that order is at the bottom. The Epsom,
races, independently of the magical attraction they have for
British imagination through the Derby, are again a striking
testimony of the love Englishmen of every class have for
physicial exercise. Z hey hold it in great esteem, as you
know, and practise it with constant attention. They see in
it, and perhaps they are not wrong, an efficacious manner
of developing the vital force of man, and making it produce
the greatest possible result. In fact, it is a sort of political
economy in a muscular sense. In this only you find the
secret of the tacit protection which the most distinguished
Englishmen accord to the Herculean family of boxers—and
this strange to say, in spite of the letter of the law. One
would say that a part of this spirit is infused into the
brain of the horse himself. You see little animals that
refuse no burden, and stick at no obstacle. They have the
stubbornness of bulldogs and the energy of the:Saxon race.
They die in harness. But when one has seen the Derby it
is very difficult to cherish any illusion on the future of
horseracing in France. No doubt, peeple do well in pro-
tecting and multiplying them; but, in spite of all they do,
horseracing will be an amusement only tor a very small
number of horse-fanciers. Large fortunes do not come to
its aid, and decidedly the popular taste is not for it. At 11
o'clock at night the visitors to the Derby throng to Cre-
morne, where it is the custom to spend a part of the night
after the races at Epsom. Cremorne is something like a
masked ball without masks."

INTERNATIONAL CHESS CONORESs.—The preli-
minary meeting of the great gathering of the chess players
of all nations to be held this year, will take
place on the
13th inst., at St. James's Hall, under the presidency of
Lord Lyttelton. The congress will probably continue its
proceedings for a month. The chief features of the pro-
gramme are :—A grand international tournf
amen
all nations ;
t, and a
handicap tournament, both open toplayers o
a match by electric telegraph between London and Paris,
an exhibition of blindfold pla, matchesy between clubs, and
a competition for the best problems. Some of the most dis-
tinguished players from all quarters of the world will be
present. Among others, we may mention Messrs. Anders-
sea, Barnes, Blackburn, Boden, de Riviera, Hampton,
Hannah, Harrwitz, Horwitz, Kennedy, Kolisch, Count
Koucheleff, Lowenthal, Medley, Mongredien, Prince Our
onsoff, Owen, Paulsen, Staunton, St. Amant, and Steinitz"
As an evidence of the interest which has been excited,t more.
than 460 problems have been entered for the coin
that department. The prizes in all the branctsitiaerne in
considerable value. A special interest attaches to this
gathering, as it has been resolved to constitute the meeting
a legislative congress for settling the British chess code.
ELOPEMENT AT SIINDERLAN
13
partner's
wife, the
shopkeeper has eloped with his
h
pair carrying off with them all the ready cash ttheey guiltycould
lay their hands on. The male rascal was formerly a
schoolmaster at Millfield,
business in the Market Sunderland.somet
time
eago,
aHeld
commenced
afterwards
took his now injured friend as partner. They subsequently
opened another ahop. at Middlesborough, the partner
going over to naanage it, and leaving his wife behind at
Sunderland. The fellow took advantage of this to seduce
the wife,
Man
having hischesteorwn wifeh and children residing all
the time in The wife
hreecenatslytawkent over to
her husband at Middlesborough,
myste-
riously ill, advised to come to Sunderland,w the eontherm an
went over, and the pair left about ten days ago—he pre-
tending to go to the markets to buy goods, and she to return
to her husband at Sunderland. They have never been seen
since, however, and it is supposed they are now on their way
across the Atlantic. They had been gathering together
money and luggage fur some days previously, but the in-
jured husband never suspected anything because of the fel-
low's plausible pretexts, and his loud professions of religion
and morality. The seducer had the assurance to write let-
ters to his injured partner, to the mother of the woman, and
to his own wife, couched in a pious strain, apologetic of the
elopement, and using the name of the Almighty, with
tle a
prayer that good might come out of evil,--Newco
Chronicle.
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