The Sun.
London, England, 1865-07-28 00:00:00

maintaining that the debt must be paid. But the
voice _of the people will prevail, and on which side
that will be raised it is at present impossible to
judge. One thing is certain, and it is that the com-
mercial crisis through which the country is passing
is no less important than the political one. It is
estimated by a commercial authority that the balance
of trade in the fiscal year 1864-65 was against Am-
erica to the amount of $11,224,000. It is not likely
that the exports can restore this balance for a con-
siderable time to come.

It is demanded in some quarters that the Secre-
tary of the Treasury should at once contract the
circulating medium, and so reduce the premium on
gold. But against this it is rightly urged that while
the Secretary is compelled to borrow at the rate of
$20,000,000 per week as he is now doing, at inte-
rest as high as 7.30 per cent., it is idle to talk to
him of contracting the currency. The present enor-
mous expenditure is caused by the work of paying
off the army and the cost of transporting the men
from place to place. With every effort that can be
made, money enough is not forthcoming, and " cer-
tificates of indebtedness " are consequently issued--
promises to pay in from 6to 12 months. Although,
therefore it is the opinion of some excellently informed
men that the return to specie payments will be
easier and quicker than the public suppose, no one
pretends to point out how it is to be done. Where
is the money to come from ? The Secretary of the
Treasury would probably be thankful for some
specific information on that important point. It is
remarked with some expressions of dissatisfaction
that the usual monthly returns of the debt have not
yet been published for July. They should have
made their appearance on the Ist inst.
Among the other mysteries of finance which per-
plex the simple citizen is the circumstance that he
is still obliged to pay war prices for everything he
consumes. The expense of living in New York is in
truth enough to ruin any man of moderate means.
The hotels, where, as is well known, many families
permanently reside, charge $6 a day (say £1 55.) for
two poor rooms up three or four pairs of stairs, and
it would require a prince's ransom to enable a man
to take wine with his dinner. I have a market list
of provisions and their prices before me, and from
this it appears that for a loaf of bread of no parti-
cular weight, the bakers varying this as they think
proper, 10c. (5d.) is charged. Butter is sold at the
rate of is. Bd. a pound (to quote the price in Eng-
lish money) ; coffee, from 2s. Id. to 2s. 2d. ; sugar,
about Bd. ; fair drinkable tea, ss. Bd. per lb. ; beef
cannot be got fit to eat under Is. 3d. a pound ;
mutton, from Is. to ls. 3d. ; spring chickens, from
4s. 2d. to 6s. 4d. a pair ; fowls are sold at Is. per
lb. ; champagne fit to drink is £1 a bottle. These
rates will serve to•give seme idea of the cost of living
here, even if provisions are bought direct at the
markets. When it is considered that a heavy per-
centage of profit is put on the foregoing prices by
the hotel or boarding-house keeper, itwill be seen
that no one has any busbless to come to New York
with ideas of economy about him. All old-fashioned
notions concerning prudence and thrift had better
be left behind, " Foreigners" stare at being asked
£5 or £6 fora coat made of " shoddy," and of a cut
calculated to distract any one of proper sense or
feeling. They do not like to pay 75c. (3s. lid.) for
having their hair ruthlessly hacked and mangled in
the style which seems to prevail among barbers here,
and they object to pay $1 an hour (16s. Bd.) for the
use of a vehicle which is not half so convenient as
the London. " Hansom." Grumblers at the extor-
tion of London cabmen should EN C here. a few
weeks, and try a little dealing with the independent
and superior gentleman who condescends to drive
cne about these streets. He enters freely into con-
versation with his fare, drives at what rate he likes,
and charges at the end just what seems to him to
be good. The most ricketty cab and the most ex-
tortionate of cabmen would be hailed with real joy
by the stray Englishman in Broadway, who is now
compelled to spring into a dirty omnibus while it is
going at full speed, with no conductor at the door,
and with a hole through the roof to enable him to
pay the driver and tell him when to stop. Any
traveller who is coming here, and has ideas of per-
sonal comfort had bet ter arrange his letters of credit
on the largest scale. The income-tax list, which
the papers publish here regularly, shows that there
are numbers of merchants and others in New York
IGZIL • ILL .t•AL,/ 1,..6.0 w 6 • .0,07 &O.?
One gentleman is down for $1,300,000 (X 260,000).
No doubt life could be made very tolerable in New
York upon these conditions.
A Provisional Governor for the State of Florida
has been appointed by the President—Judge Mar-
vin. The whole of the seceded StateS have now
properly appointed Governors, and it only remains
to render the civil power complete by abolishing
military courts. This, however, will probably not
be attempted at present.