The Sun.
London, England, 1865-12-16 00:00:00

This is an important face, and would of itself insure its
payment.

It is the purpose of the present Secretary of the
Treasury to bring about specie payment at the earliest
practical day consistent with the condition of the coun-

It is quite probable that early in the coming year there
will be a considerable reduction in the amount of irre-
deemable paper iu circulation, which will go on until the
country will gradually fall back into the good old way of
paying in coin.
It is a mistake to suppose that the Northern States
have been exhausted or impoverished by the four years of
war.

The most convincing proof of the contrary is that they
have been able to supply to their Government the proceeds
of industry represented by a present debt of $2,700,000,000,
and that the whole of this debt thus far has been taken up
at home.

The Government of the United States has not sold or
negotiated directly or indirectly a dollar of its securities in
Europe, and of the whole'amount now outstanding not
over $300,000,000 has found its way to foreign countries
through the ordinary channels of trade.
The condition of all classes in the loyal States had sen-
sibly improved since the war begun.

The causes are obvious. The Government demand has
given a prodigious impulse to manufactures in the North,
and to agriculture
.in the West, so that at tho end of the
war the North finds itself with strength undiminished, re-
sources increased, prepared to grapple with the burden of
taxation.

Large as the debt is growing out of the rebellion good
results will more than compensate.
We are more united, more prosperous and stronger than
we were or should have been. We have abolished tho
curse of human slavery.

The faith of the nation is pledged for the discharge of
all its obligations. Its people have passed through a
wonderful experience of their financial ability, from hope
to confidence, and the cautious moderation of our calcula-
tions shows that early and easily the national debt can be
paid.

RACING FIXTURES FOR 1866.
JANUARY.

Manchester
FEBRUARY.

Lincoln
MA

Nottingham Spring 27
CH.

Derby Spring 1
Liverpool Spring
Warwick Spring
Doncaster
Lewes Spring
AP

Crox ton Park l6
Northampton ....... 20
Windsor Spring
Newcastle Spring 2B

Newmarket Craven 2
Durham
Catterick Bridge
Abergavenny 5
Chelmsford Spring
M.

IL.
T hirsk lO
Epsom Spring
Newmarket Ist Spring l6
Chester
Curragh 24
Y.
Epsom Summer l5
Uxbridge 2l
Manchester
Ascot Summer 29

Ascot Spring 1
Salisbury
Bath 8
Harpenden lO
York Spring

Windsor Summer 5
Newton
Hampton 7
Odiham
Bibury l3
Stockbridge
Chelmsford l9

NE.
1 Liverpool
Beverley 2O
Ipswich
Huugerford '26
Newcastle on-Tyne 26
Curragh 26
Worcester
LY.

Carlisle
Newmarket July
Pontefract
Abingdon
Reading
AUG

Down Royal Corp lB
Stamford l9
Winchester 24
Southampton 25
Huntingdon
UST.

Brighton 7
Brighton Club
Lewes lO
E,mham 14
Wolverhampton l4
Stockton l5
Oxford l6
Hastings 2l
___

York August 2l
Plymouth
Lichfield
Devon and Exeter 2B
Tunbridge 2B
Derby Summer 28
Weymouth 3O

SEPT]
Warwick September 4
Curragh
Leicester 6
Doncaster
Canterbury lB
-

OCTI
Northampton 2
Newmarket 2d October 8
Curragh
- - -

NOVE
Linenln
Liverpool