The Sun.
London, England, 1862-10-09 00:00:00

AMERICAN FINANCE.

The telegram from America yesterday was re-
garded as affording additional proof of the growth
of anarchy. The idea of compulsorily dranghting
about half a million of additional men seems, in
the present emergency, like a wild flourish of de-
spair, and the fact that 16 out of the 23 "loyal"
States have signified approval of the recent procla-
mation of the President is of no favourable signifi-
cance, especially as it is possible for individual
governors in the present crisis wholly to misrepre-
sent the feelings of the majority of their constitu-
ents. Meanwhile, a further advance is announced
of 3 per cent. in the value of gold, and nothing is
said about the collection of taxes, or to throw light
on the actual condition of the Federal finances.

In many quarters surprise is felt that the issues
of American paper currency have not up to the pre-
sent time led to a state of affairs much worse even
than that which is now indicated by the Govern-
ment notes being at a discount of 23 per cent. But
the position is easily explain-ed. - the United
Kingdom the amount of specie in circulation has
been roughly estimated at £80,000,000 sterling.
The total in America previously to the suspension of
specie payments must also have been very large, per-
haps £50,000,000 or £60,000,000. Indeed, at the
time of the suspension, owing to the great amount
of the preceding shipments of grain to Europe, it
must have reached the highest point ever attained.
The whole of this sum, whatever it may have been,
must almost instantly have disappeared from circu-
lation when the inconvertible Government paper
was made a legal tender. Here, therefore, was a
vacuum for Mr. Chase and the various
banks to fill np at pleasure. That result
was soon accomplished, but it was not till then
that the currency could be expected to experience
any severe depreciation. Such discount as was
quoted represented rather the distrust enter-
tained by those who could foresee what the new
system would end in rather than any consequences
of actual redundancy. The vacuum being filled,
every additional subsequent issue will produce its
natural effect, and hence, although the creation of
new notes is not believed lately to have been so
rapid as might have been expected—the Treasury
having preferred to weary out its creditors by post-
ponement—such increase as has been made has
already produced a depreciation which must be con-
sidered absolutely ruinous. Mr. Chase doubtless
argued, " If I can pour out 30 or 40 millions ster-
ling of notes without sending the premium on gold
up to more than 2 or 3 per cent., I can, of course,
double or treble that amount without sending it
beyond 6or 9 per cent. ;" but he will find that
there never was a more ignorant delusion, and that
every additional million beyond that which simply
replaced the gold that was in process of being
hoarded will be followed by results to astonish
equally himself and his disciples. It argues a curious
estimate on the part of the civilised world of the
depths to which American finance is destined to
descend that, although the Washington currency
has already reached a point of debasement which,
if it were to occur in any commercial country of
Europe, would be regarded as an extreme and
almost incredible convulsion, every one inquires as
to the probable date when the real crash will come,
as if the present state of affairs afforded little more
than a mild indication of the events to be witnessed
hereafter. Considering that, although New York
is sending ns week by week an amount equal to a
quarter of a million sterling in wheat alone, the
Federal Government have now arrived at a position
in which they must incur a debt of more than £5OO
for every 1380 they may receive in value, it can
hardly be thought that these anticipations are too
extraordinary, or that their realisation will be
much delayed beyond the time when, with the ap-
proach of winter and the closing of the Western
canals, the grain shipments will be reduced and the
remittances of gold must 'proportionately be aug-
mented.

FIGHT BETWEEN A MAN AND A PANTHER.—
On Monday evening last an accident occurred in Edmond's
(Wombwell's) menagerie, now exhibiting in Nottingham,
which at one time wore a most serious aspect. " The
Royal Lion Hunter," a pure African, entered the perform-
ing panther's den. He commenced to put one of these
animals through a course of performance, which consisted
mainly in making it leap from one part of the platform to
another, the two elevations being erected at either end of
den. The animal, instead of taking the proper course,
leaped upon its keeper, and tore his face, so that the blood
ran copiously from the wound. The keeper, noways
daunted, notwithstanding a cry of terror from the specta-
tors, persisting in making his refractory subject resume its
position. For some time the beast continued obstinate,
notwithstanding the terrible thrashing which it received.
a
The keeper then left the den, and procuring a still heavier
weapon, he returned and gave to the stubborn beast such a
proof of his prowess as finally overawed it, and amid the
applause of the spectators, the performance went on, and
was completed according to the programme ere the keeper
quitted the den, though during all
this time he himself
was bleeding freely from the wound inflicted by the animal
on his face. The self-possession of the keeper gained for
him great eclat. The fight between the panther and his
keeper lasted twenty minutes. The same evening a keeper
entered the den of a zebra,
the animal bit off his fore finger.
and While offering it a biscuit