The Sun.
London, England, 1862-01-17 00:00:00

AMERICA.

LIVERPOOL, THURSDAY.
The Canadian mail steamship Nova Scotian has
arrived with advices from Portland to the 4th.
The Inman steamship Edinburgh has also arrived.
She has brought 20 cabin and 78 steerage passen-
gers, and 385,906 dollars in specie ; her dates are
to the 4th. The Bohemian had arrived off Cape
Race.

From Washington we have, in the correspon-
dence of the .New York World of the 4th, some
gossip respecting the opposing armies, and the
alleged intentions of the English and French Go-
vernments in regard to the blockade.
" While the expectation here is generally of an
advance of our armies of the Potomac, it is very
evident that the rebels themselves do not anticipate
it. It is known that up to the 20th December no
furloughs were granted in the Confederate army at
Centreville, but that since that time they have
been quite frequently given, and that Richmond
and other cities in the South are to-day filled with
officers and privates from the army at Manassas.
It was at one time believed that, simultaneously
with the sailing of Burnside's division, our army of
the Potomac would advance, but such is not now
the impression. It is intimated, moreover, that
when the expedition does sail it will be accom-
panied by a number of the best troops now in front
of Washington. Private letters, as well as de-
spatches, from Mr. Dayton and Mr. Adams, indicate
that an attempt will soon be made in both England
and France to induce the Governments of those
countries to raise the blockade on the ground of its
ineffectiveness. As yet no formal complaint has
been made to this Government, but it is well known
that the materials for complaint are in the hands of
those who will endeavour to use it to the detriment
of this Government. The meeting of the English
Parliament of the 18th of January will, it is under-
stood, be the signal for the opening of the whole
American question, including the effectiveness of
our blockade. Sympathisers with the Southern
Confederacy have been supplied with all the neces-
sary data, and you may expect very warm debates
and an endeavour to force the Government into a
position on this subject that will not be satisfactory
to this nation. The proposition of Mr. Stevens, on
behalf of the Committee of Ways and Means, to
declare the southern ports of entry abolished, will
not, if passed, be regarded by the foreign Powers.
It would only serve to further complicate the
matter. Having declared a blockade we are bound
to adhere to it. Should, however, our armies crush
out the rebellion in Tennessee and Virginia, and
our troops obtain possession of Charleston and
Savannah and Mobile and New Orleans, Mr.
Stevens's proposition could then doubtless be en-
forced, and would be respected by foreign Powers.
But when this is done there will be no longer any
necessity for the measure proposed by that gentle-
man. Mr. Stevens's proposition for closing the
Southern ports of entry lays over, under the rule,
to the first Tuesday in February, by which time it
is hoped there will be no necessity for passing it."
General M'Clellan was convalescent, but had not
resumed his military occupations.
Her Majesty's gunboat Rinaldo left Princetown
on the evening of the 2d for Halifax, with Messrs.
Mason and Slidell on board. It blew a hurricane
the same night.
The Boston Traveller of the 2d thus announces
the departure of the Southern Commissioners :
" The departure of Slidell and Mason from Fort
Warren yesterday was conducted as quietly as pos-
sible. The garrison, with the exception of the guards
on duty, were kept from the side of the fort where
the prisoners' quarters are, and there were but few
persons upon the wharf when they embarked. The
other political prisoners, as they bade them good
bye, congratulated them on their release. Mr. Mason
went off in good humour. Indeed, he has recently
been in good spirits, and he has borne his imprison-
ment with the air of a philosopher. Mr. Slidell was
somewhat sulky, and not at all pleased at going in
such an unostentatious manner, and in such a vessel.
He evidently expected that a steamer would come
here especially for them. Part of his ill-nature may
be owing to his health, which has not been good for
some weeks, keeping him pretty close to his room,
although he has not called for medical aid. The tug
Starlight, with the four rebels, reached Princetown
a little before 5 p.m., and immediately proceeded to
the English sloop of war Rinaldo, and transferred
her passengers. Commander Hudson, who was in
charge of the arrangements, went with them on
board the English war vessel, and remained on board
for about 15 minutes, when he returned to the tug.
About 6 p.m. the Rinaldo got under weigh, and
proceeded on her voyage. In about two hours after-
wards fa violent gale commenced, and blew all night
at Princetown with almost the violence of a hurri-
cane, but as the wind was off shore, probably the
safety of the vessel was not endangered. During
the stity of the Rinaldo at Princetown no communi-
cation 'was allowed with the shore, nor any beat al-
lowed to come alongside."
The ,disappointment of the South at the termina-
tion of the difficulty with England is expressed in
an artim le from the Richmond Dispatch :
_

" If 'the Yankee Government have not enacted
the pohr t of ' Ancient Pistol' to the very life, in
their mnbroilment with the English Government,
then I:;').ere is no such thing as imitation, and
parent :A cases cannot exist in nature. When the
piratic ell onslaught was first made upon the British
vessel the yell of exultation which arose in Yankee-
dom r( !sounded throughout the world. Vast meet-
ings atlst ambled to testify their admiration of the
deed. ( lity councils voted it unrivalled in daring
and saga city since the days of Bayard. The press
rang wit h applause. The Secretary of State has-
tened wit h his meed of praise. The Secretary of
the Navy was not slow in approving the deed.
CongrerAs: hailed the rising glory of the new hero, and
testified ..t heir approbation of his exploit without 4

dissenting voice. The city of Boston dined and wined
him, and listened to his narrative, and made the
welking ring with its applause. The newspapers
vowed that they would see every American ship
burned, and every Yankee town and city uprooted
from the very foundation before they would shrink
from the side of Wilkes. They were determined to
back him at all hazards and to the last extremity.
Never was there such defiance as they hurled at
England. Never was there so much insolence
uttered upon any one occasion. Never were such
threats heard before since the creation of the world.
The herald led the way in these demonstrations.
It was going to raise a million of men to overrun
and devour Canada. It was going to fit out 6,000
privateers to cruise against English merchandise.
It was going to confiscate 900,000,000 of English
property. It would not let England have a pound
of cotton. It would get saltpetre from the Mam-
moth Cave. If England dared to demand redress,
it was determined to raise an insurrection in Ire-
land. Never was there anything like the ribaldry,
gasconade, bully, bluster, and defiance in which the
whole Yankee race—people, press, public meetings,
Congress, Secretaries, and all—indulged. They
have been compared to the Chinese, and we think
with wonderful aptitude. But the Chinese never
swaggered in this style. And after all what has
been the result? The Yankee fire eaters
have drawn back from their first piece of live
coal presented them. The Yankee swaggerers
have been the first to eat their own words
as soon as it was ordered them. The Yankee
Congress, which unanimously approved Wilkes,
abandon him upon the very first intimation that it
might cost them something to hold on to him ; and
Bennett, instead of eating up Canada, instead of
exciting an insurrection in Ireland, instead of fitting
out 6,000 ships to cruise against British property,
coolly advises the Yankee Government to knock
under, and, in the very spirit of Ancient Pistol,
cries All hell shall gape for this' hereafter ! Won-
derful people ! wonderful press ! wonderful Con-
gress ! wonderful Secretaries ! wonderful Yankee-
dom ! Certainly, the world never saw your like
before ! Even Egypt, the basest of kingdoms,' is
respectable when compared to you."
The board of naval and scientific gentlemen ap-
pointed to report upon Mr. Stevens's iron steam
battery, now building at Hoboken, have furnished
their report. After an elaborate summary of her
mode of construction, armament, notation, defen-
sive power, and cost, the committee express their
opinion in the following paragraph :
"In conclusion, we beg leave to express our
highest appreciation of the objects Mr. Stevens has
apparently had in view when planning this—the
most powerful battery, the highest speed, and the
most thorough protection of any vessel yet produced
—and our regret that the plans of the vessel as pre-
sented to us would not, in our opinion, accomplish
fully and completely the ends proposed. We look
with the deepest interest upon every addition to
the efficiency of our navy of whatever character,
and gladly hail every improvement made to any
department of it; but at the same time we cannot
recommend the expenditure of important sums of
money upon projects of more than doubtful events
when put into practieal+ execution, and, therefore,
we do not deem it expedient to complete this vessel
upon the plans proposed."
The workmen at the New York Navy Yard, num-
bering nearly 3,000, had struck, in consequence of
the recent order of the Secretary of the Navy
requiring them to work from sunrise to sunset for
the same wages.
The Governor of the State of Maine, in his
annual Message to the Legislature, remarks :
"Upon the coast of Maine are more deep accessible
harbours, capable of being entered by ships of war of
the largest class, than can be found on the entire
coast line of the slaveholding States; and yet, since
she became a member of the Federal Union in 1820, and
although she was at that time substantially destitute of
fortifications, the appropriations of the Federal Government
for her coast protection have been less than half the amount
that was expended within ten. years for the building of a
Custom-house in the single city of Charleston. For more
than 400 miles this State is separated from the British pro-
vinces of new Brunswick and Canada by a merely imaginary
line. Of the deep and bitter hostility to this country of
large numbers of the people of these provinces we have
now, unhappily, the most indubitable proofs. In view of
the present attitude of the British nation towards the United
States, and of the feeling of the British people towards our
own, the fact will not escape attention that while the de-
fences of our State upon the seaboard have been so strangely
neglected, and not a dollar has been expended for her pro-
tection on her extended interior boundary, her best means
of defence by land has been taken from her by the
United States, and ceded to the only power in whose pos-
session it could be available to her injury; nor shall we fail
to be reminded of the memorable declaration of one of her
most distinguished chief magistrates—of him who was the
soul of all that is noble and chivalrous in human character,
and whose exceeding love for the State which he served so
faithfully will keep his memory for ever green in the hearts
of her sons. Maine,' said Enoch Lincoln, has not been
treated as she has endeavoured to deserve.' How unwise
the provision of the treaty of Washington, by which the
United States surrendered to Great Britain that portion of
the State of Maine north of the river St. John, without the
possession of which she was shut out from Canada for half
the year, may now be seen not only in the fact that hereby we
opened a way for the transportation in the winter of the very
troops upon which, in the event of hostilities between the two
nations breaking out at that season of the year, she must
largely rely, whether for defence or attack, but also in the
menacing spirit encouraged by that capitulation, in which
she now takes occasion to address us. As the question of the
extent and character of the wor ks required by the exigencies
of our situation has been considered at some length in
the communication which I had the honour to address to
the President of the United States on the 23d of last Octo-
ber, and which will be laid before you, I will not now oc-
cupy your time upon the subject further than to suggest
that the cost of the necessary fortifications at the exposed
points—as Eastport, Castine, Rockland, Belfast, Wiscasset,
the mouth of the Kennebec, Saco River, and other places
—will be largely reduced if we can find at some central
eligible point, within what may be termed supporting dis-
tance the indispensable conditions of a great and impreg-
nable fortress, from which all needful succour, by sea or
land, may be speedily forwarded. To those of you who
are acquainted with the position of the city of Portland the
configuration of the country surrounding it, the capacity
and natural defences of its wonderful harbour, and its ex-
tensive railway connections, its admirable aclaptibility to the
purpose I have mentioned will need no elucidation. Its
natural capabilities are such that, at comparativei7 small
expense it may be made absolutely impregnable. FrZira
Eastport to Galveston it is ne venture to say there cannot
be found a place combining to anything like the same extent
the essential conditions of a grand military and naval sta-
tion, such as this nation should not consent longer to dis-
pense with. While Portland remains undefended no ade-
quate protection can be afforded at any practicable expense
to Boston and New York, But make it, as the plain
necessity and duty of the country require, at once the
Quebec and Halifax of the United States, from which the
thunders of their power may be launched by sea or land
at the touch of the telegraphic wire, and a most cer-
tain and practicable means of defence will have been pro-
vided for those great commercial emporiums. Within a very
brief time after the breaking out of hostilities between this
country and England--distant be the day when such an
event shall happen I—Portland, with only present means of
defence, would, there can be little doubt, be in possession of
the enemy. With a British fleet in her harbour and a
British army on her heights, the merchants of Boston and
New York will readily understand what would be the almost
certain consequences to their commerce, and the imminence
of the danger to which their own cities would be exposed.
To perfect the defences of this State there are required not
only the military works upon her coast at which I have
hinted, but the construction of military roads—railways—
for their connecticn with each other and with our northern
boundary. Whatever sums may be expended by Maine for
its defence, and which would be for the defence of the coun-
try will be refunded by the United States, as they will be in
the nature of a loan for which the credit of the general Go-
vernment will be pledged. Eut were it certain that the
Government of the United States could so far fail in the
performance of its just obligations as to refuse to guarantee
the repayment of such moneys as might be advanced by the
State for its benefit, the duty of the latter would neverthe-
less remain to take care, so far as she has the power, of her
own citizens, and to proiect her soil from the tread of the
invader. And this duty she will not neglect, whether
there be immediate danger of a foreign war or not.
And, although we may see no such danger, recent events
admonish us that with one nation at least it will require
the utmost circumspection on our part to preserve amicable
relations. While the attitude of England towards this
country since the breaking out of the rebellion has been
marked by many exhibitions of the most positive unkind-
ness and illwill, her friendship for the rebels has been
manifested by an unbroken succession of favours, valuable
in themselves, but more valuable for the hopes encouraged
by the ostentatious manner in which they were conferred.
Indeed, such has been the force of British sympathy for
the Southern traitors that England refused to conclude an
arrangement into which she had invited the United States
to enter as a party with the principal nations of Europe, in

reference to privateering, for the simple and avowed reason
that the Southern rebels would be embarrassed thereby

cla
ill(
4 £1
onl
£1

~~ ~ .

he transactions which she had denounced as essentially
pira+ical, and so express has been her unfriendliness to the
United States that she has not hesitated to discover cause
of quarrel with them, even at the expense of the sudden
abandonment of a principle which she had contended for
during many generations, and the adoption of a doctrine
against which, when advanced by the United States, she
had protested with all the emphasis of war. I confess,
then, I am not free from the most serious apprehensions
in regard to our future relations with England. We
have ali thought till recently that war with England
was scarcely in the category of possible events. That
she would make a war which she must know this country
would feel and history would record, was waged by her
in the interests of barbarism and wrong, and designed to
inflict an irreparable and unprovoked injury upon 7 nation
which had been, in honest faith, her best friend, and as far
as the wishes of its people were concerned her truest ally,
Was what the American people could not believe.
.So con-
fidently did they feel themselves entitled to her friendship
that upon the breaking out of the slaveholders's rebellion
there was not a loyal man in all the North who did not rely
with unquestioning confidence upon the warmest sympathy
and heartiest good wishes of her Government and people.
But in all this they have been grievously disappointed,
and it is not to be denied that their feelings have been sorely
wounded. They thought that the land of the Russell's and
the Sidneys, of Charles Fox and Gladstone, of Milton and
Tennyson, would have denounced the insurrection as inex-
cusable and its motive as infamous. But, instead, they
find they sympathies of the British nation, not with the
free North fighting for the pi eservation of their Govern-
ment, upholding the cause of Chilization and humanity, bu
with those who are endeavouring to destroy that Govern-
ment in order that slavery may be spread and perpetuated,
and its systems, habits,institutions, and practices, strength-
ened and encouraged."
A new af tack upon the Confederates is contem-
plated somewhere in the neighbourhood of Port
Royal, but the particulars are not yet known. The
latest despatches from that quarter say :
"At the time the Cahawba left Commodore Dupont was
making preparations to attack the rebels in a new quarter,
but, for obvious reasons, the details are not made public.
The frigate Wabash is in complete order, and will be used
to cover the landing of the troops. Alarge number of gun-
boats were also in readiness to take part in the contemplated
movement. General Sherman will act in conjunction with
the naval force. The defences at Hilton Head were rapidly
progressing towards completion. An intrenchment had been
built in a favourable position to protect Fort Walker against
a. large invading force. General Stevens's brigade, number-
ing about 4,000 men, was still encamped at Beaufort. Gen.
Stevens had issued an order prohibiting any person from
crossing the lines unless provided with a pass. The property I
of the town was protected by the troops. In a reconnais-
sance made by the Eth Maine Regiment, at a recent date,
six. rebel pickets were captured."

MONEY MARKET AND CITY NEWS.

CITY, Two o'CLocx.
The 13ank of England Return, completed to the
15th inst., is of a favourable character, the princi-
pal feature, however, is the large diminution in the
Private Deposits, and the other securities, caused
by the repayment of advances made by the esta-
blishment on Government Securities. The bullion
has been slightly augmented, while there is a
diminution in the reserve of notes, and the Go-
vernm.ent Securities. The various items and the
changes they present are shown in the annexed
table.
-Active Circulation .. X 20,698,100
Increase .. 344,485
Bullion 16 291,626
Increase .. .. 245,609
R-

.eat - --
--
3,276,760
•• •• •• .• ••
I
44,375 crease .. •••
Publicn .. Deposits 353
•• • . • • 4,5839
Increase .. • • • • ..40,379
Other Deposits.. .. .. .. 16,480,452
Decrease .. • • • • '' 1'726'036
Seven Day and other Bills .. .. 762,825
Increase .. .• •• • • 29,765
Government Securities .. .. 12,268,618
.. Decrease .. .. .. 500,000
Other Securities .. .. .. 17,144,246
Decrease .. .. • • • • 1,012,641
Notes unemployed .• .. .
... 9,425,320
Decrease .. • . 79,980
The Shannon, which left to-day for the West
Indies, conveyed £12,700 in specie.
The directors of the Ocean Marine Insurance
Company have issued their report prior to the
Meeting, which states that after payment of all
claims and making provision for a second third of
the preliminary expenses, there is a balance of
X 125,613, from which it is proposed to payinterest
only, at the rate of 5 per cent, per annum, leaving
£115,653 to be carried over.

The progress of business in the Foreign and
Colonial Produce Markets during the past few
days has been rather less active. Sugars have de-
clined about 6d. per cwt., while at the public sales
of tea previous prices were with difficulty supported.
Coffee cortinued in very limited request, at about
previous rates, while the operations on "rice, fruit,
and spices were only of a limited description.
Saltpetre has been dull, without any change of im-
portance to report in values. For tallow there has
been a very limited demand for both present and
forward delivery. P.Y.C. on the spot is quoted
48s 9d to 49s per cent.
Business in the Liverpool Cotton Market yester-
day was very inactive, but prices were without any
1111P0rtant change. The sales were estimated at
5,000 bales.
At the forthcoming meeting of the National
Di At
Company a dividend at the rate of 6 per
tent. Per annum will be proposed, the available
alance being L 22,640.
,The English Stock Market to-day has been
12t;tier flatter, in consequence of a few speculative
'ates, but the fluctualion has not been of importance.
Consols are 939 a for money and the account, but
the amount of business transacted has been compa-
ratively small. The New Threes and the Reduced
;re firmer, at 921 931; Bank Stock is at 240 and
41 ; India ditto is fiat at 224 ; but the 5 per Cent.
Loan remains at 1051 and 1061.
Increased firmness has been apparent in the
Foreign in the
Market, but the transactions have not
been quite so numerous. Turkish 6 per Cents.
'B3l to 84:1; do., 1858, 74 to 741 ; Mexican have
TPl* "e d to 288 29, Equador to 15t, Italian to
4"4, and Venezuelan are firm at 237 I Brazilian
t' Per cents. are flat at 91. The Moorish Loan is
4,1 to si prem.
The thalings in the Railway Share Market have
been +
-- to a moderate extent, and prices have exhi-
bited a firmer tone. Eastern Counties, Great Wes-
tern, North Western South Western, and North
Eastern (Ber wick), have advanced ss. ; Great Nor-
therns, Midlands, and South Easterns, 10s. ; and
Lancashire and Yorkshire, 15s,
The Foreign and Colonial lines are also in fair
demand at full rates. South Austrian and Lom-
bardo-Venetian have advanced to 191 ; Dutch
Rhenish, to 161 1 ; Grand Trunk of Canada, to
21t 211 ; Great Western of Canada, to 111 ; East
Indian and Great Indian Peninsula bring previous
prices.

- Joint, Stock Bank and Miscellaneous Shares are
dull. London and Westminster realise 721 731;
Union of London, 30 to 301 ; Peninsular and
Oriental Steam, 731; and Royal Mail Steam, 501, 1.

BRITISH FUNDS—CLOSING PRICES.
.13ank Stock
2 per Cent. Reduced Annuities 93 i 2
6 Per Cent. Consols Annuities
New 3 per Cent. Annuities
India Stock
1
Ditto 5 per Cent.
Ditto Enfaced Paper, 4 per Cent —
Ditto 5 per Cent
Ditto 5Ji per Cent
Ditto Debentures, 4 per Cent., Oct., 1863 100 99
Ditto ditto Aug. 1864 or 66 99a If
. Ditto Bonds £l,000
I)ifto under £l.000
Consols for Account, Feb. 6 931 i i
March. I Juns.
21 18

Exchequer Bills, £l,OOO 2d....
Ditto £5OO . .
Ditto Small 1
FOREIGN FUNDS—CLOSING PRICES.
Austrian 5 per Cent. Ex. 10 Florins —
Ditto 1859
Brazilian 5 per Cent
Ditto 41 per Cent, 1860
Chilian 6 per Cent ......
I)itto 4 per Cent
Equador New Consolidated ..
. ls±
Mexican, 3 per Cent .........
Ditto Account .........
Grenada Active.
Ditto Land "Warrants
Do. Ex over-due Coups. & Hectares. 9z
Ditto Deferred, Ex Hectares.
New Grenada, 2 per Cent ........... .. .
t-eruvian 41 per Cent
Ditto (Uiibarren), 41 per Cent. ...... 94i
Portuguese 3 per Cent., 1853 .....
Ditto Account 46i 7
Thlssihn 5 per Cent. 1822, £ St ..
Ditto 41 per Cent.
Ditto 3 per Cent. 1859 .. 60 i 591
ardinian 5 per Cent
771
Ditto Account
4anish 3 per Cent. —
Ditto Account
Ditto New Deferrel
i
iN..,
• ~o Account
Ditto Passive
Spanish Cert. of Coup. not funded .......... 7
1
61 7
Turkish 6 per Cent. ..
Ditto Account
8
Ditto New Loan
Ditto Account
Ditto £lOO Bonds;
Venezuelan 3 per Cent
Ditto Account
Dutch
D'.vidends on the above payable in London.
'4ll,tch 21 per Cent., Exchange 12 Gull.
'lllO Cjrtificat-s 4 per Cent...
Malian, • '' , •
5 per Cent., 1861
1861 63a
THREE 'CLOCK.
Consols Money
Ditto Account tf • 931 i

............ 28i 9