The Sun.
London, England, 1860-06-07 00:00:00

PARAGUAY AND HER PRESIDENT.

The Asuncion correspondent of the .New pork
herald, under date March 19th, bears testimony
to the progress making by Paraguay, and the cha-
racter of the Government of President Lopez,
which will be read with interest in this country,
where accurate information on both points is so
desirable. " This republic," says the writer, " the
best populated and best governed of all South
American republics, offers many advantages to
mechanics, merchants, and speculators. Cotton,
tobacco, and sugar, the staples of the country, offer
a large field for speculation, as they yet want a
great deal of improvement, easily done by intelli-
gent and enterprising men, who are much wanted
here ; but the right sort of men are-slow in coming,
owing to reports derogatory to this country and its
Government, spread by persons ill-disposed, having
been foiled in humbugging the simple people here,
who are well guarded by a wise and strong Govern-
ment, represented in the person of President
Lopez, the best head south of the equator. All who
take an interest in this country, and will inquire of
the Hon. J. S. Pendleton, , formerly our chargé
d'affaires here, or the Hon. Judge Bowlin, or his
secretary, Mr. S. Ward, or any of the officers who
came with the Paraguay expedition, or Capt. Page,
so well known here, will find my statement correct.
Nowhere in South America is the Government so
well respected and obeyed as here ; nowhere are
life and property more secure. Paraguay is the
only one of the South American republics which
achieved her independence without bloodshed, and
the subsequent iron rule of Francia kept down the
turbulent, and saved the country from those ter-
rible intestine wars which distracted the lower
provinces for forty years, and only ended now by
the successful mediation of General Lopez. Since
the beginning of the actual Government a new era
has opened for this country, which has assumed its
befitting rank among the independent nations of
the world. Lopez found nothing to act upon when
he took the Presidential chair, only eighteen years
ago---neither means nor men. He had to create
both. Relations with foreign powers were first
opened by him ; foreign commerce and trade, which
were prostrated under Francia, were protected
and encouraged ; railroads, steamboats, arsenals,
foundries, &c., the best south of Rio, and the
best disciplined and best equipped army,
are his work—at the same time working against
fearful odds of jealous and turbulent neighbours
and dubious friends. Paraguay, like the retest of
the South American republics, has been the theatre
where European diplomatists make their debut,
and, for the sake of trying their strength and
making themselves a name, never leave these coun-
tries without having 'done some mischief, either
embroiling them with theirrespective governments,
or sowing the seeds of future discord." This ac-
count of the progress and and present prosperity
of Paraguay is confirmed by all the latest advices
from that country. Building operations are pro-
ceeding actively at Asuncion, and there is a wide
field for enterprise in the manufacture of bricks. A.
new theatre, on a large scale, is in course of erec-
tion ; also extensive buildings in connection with
the naval dockyards and foundries. Captain Page,
mentioned in the extract, is the commander of the
exploring expedition sent out from the United
States ; he has ascended the Vermejo to Oran, 300
miles from its mouth, thus affording further demon-
stration of the facilities which exist for distributing
the manufactures of Europe throughout Paraguay,
and sending the tobacco, cotton, hides, wool, and
other produce of the country down to the great
fluvial highway of the Piatine region in return.
The statement that Canstatt, the alleged British
subject, convicted of complicity in a conspiracy to
assassinate thwPresident and his family, and con-
demned to death, had been pardoned and liberated,
is confirmed. He left Asuncion on the 17th of
January, is the Paraguayan steamer Jessni, for
Monte Video, of which city he is a native, having
only claimed to be a British subject when he en-
gaged in the plot against President Lopez. This
is so well established that it is believed there is
nothi6g now to prevent a speedy and amicable
settlement of the difference which the claim pre-
ferred by Mr. Consul Henderson, on behalf of
Canstatt, had created between England and Para-
guay.

THE .TAPAYBSE AMBASSADORS AT A

BALL.

Last evening, at a ball given by the Secretary
of State, the Japanese ambassadors appeared un-
officially, for the first time, in public. The in-
terest felt on this occasion was so great that of the
numerous guests invited hardly a single one failed
to be present. The saloons of General Cass were
fully crowded at an early hour, 500 or 600 persons
assembling before nine o'clock. The ambassadors
did not leave Willard's Hotel until 10. On reach-
ing General Cass's residence they were conducted
by Captain Dupont and other gentlemen, who ac-
companied them through the various rooms of re-
ception, and finally seated at a point most conve-
nient for approach by those who were to be pre-
sented to them. Their neighbourhood was at once
invaded by numberless candidates for introduction,
mostly ladies, all of whom were received with the
grace and elegance of manner inseparable from the
Japanese. The party visiting the Secretary of
State was composed of three Princes, and the five
officers next in rank, and the two interpreters.
For nearly an hour these 10 gentlemen sustained
unflinchingly the unaverted gaze of as many scores
of people as could draw dear to them. Their self-
possession then, as it always is, was marvellous.
The haughtiest stare, with intensest eyeglass con-
centration, could neither move them to embarrass-
ment nor rouse them to the least defiant glance in
return. Directly personal remarks, not always
uttered, I am afraid, in the best taste, and some-
times unworthy the fair lips whence they pro-
ceeded, were listened to by those who perfectly
understood with no sign of discomposure, except
perhaps a slight compression of the mouth, show-
ing that insensibility was no cause of their immov-
able calmness. Towards 11 o'clock the ambassa-
dors rose, and were again led through the apart-
ments, pausing before a refection table, the details
of which no interpreter was needed to explain
to them. The number of guests had now greatly
increased. There were present the members of
the Cabinet, the Vice-President, and Speaker Pen-
nington, a few members of Congress, many officers
of the army and navy, and a very full representa-
tion of foreign legations. The number of ladies
seemed greater than of gentlemen. The least
unwary step enculphed one in surging waies of
muslin, silk, and those other kindred dangers which
evade precise designation. Mrs. Douglas, Miss
Lane, Mrs. G an Mrs. Slidell, were the various
central Orbs, alluring to themselves countless satel-
lites, seeking from the reflections of fashionable
warmth and social light. On their way along the
drawing-rooms, the Japanese caught sight of Com-
modore Tatnall, who brought them in the Powha-
tan from Japan to Panama, and whom they
instantly surrounded with every grateful expression
of welcome. For the few minutes that Commodore
Tatnall was near, all objects beyond testifying their
recognition of him were abandoned. A little later
the ambassadors stepped into the dancing-room,
where they gravely inspected the agile gyrations
of fair women and brave men with an air of curious
interest and occasional deep concern, as if anxious
;le to the results of a saltatory process so much at
variance with their own theories on the same sub-
ject. After a few more introductions the ambas-
sadors, at half-past 11 o'clock, took leave and re-
turned home. Their participation in this event
was, in one sense, a remarkable concession, for cus-

tom in Japan forbids high dignitaries to go abroad
by night, and custom there rules. The intention

oP the ambassadors had at first been to adhere to
this principle while in the United States, but they
express some satisfaction at having set it aside,
since by doing so they were enabled to share the
enjoyment of so brilliant an evening.—Yew fork
Tribune.

A telegram from Ccnstantinople,' dated the 4th
inst., reports the death of M. Theodore Baltazzi, the head
of the wealthy family of bankers of that name.
An enormous body of whales appeared off the
coast of Belfast on Monday evening. They were so nume-
rous that several boats of the hook herring fishing had to
leave the ground, the crews being afraid of their boats being
capsized.

Subjoined is the report, issued yesterday by
the Committee of the Stock Exchange, on the re-
sults of their inquiry into the speculations of Pal-
linger. It does not enter into the details of each of
the five cases of sußpension, any such publication
being wholly unnecessary, since the Stock Ex-
change, Committee constitatn a private and not a
legal court, and it is enough for the public to
assume that the evidence on which they have acted
was such as to justify the resolutions now pro-
mulgated. If any of the parties see fit to question
the propriety of their sentence they will have op-
portunity to do so, and it will then be for the com-
mittee to enter into whatever particulars may be
necessary to satisfy the public of the grounds on
which they have acted. From Mr. Bradock, upon
whom the sentence is limited to three months, a
letter was inserted on the 25th ult., and in the case
of Messrs. Scrimgeour it may be mentioned that,
although the facts are said to exhibit an extraordi-
nary degree of indiscretion, such as could not by any
possibility be overlooked by the committee, it has
been shown that they had no intention of encouraging
any systematic course of speculation -for their own
gain as brokers. Their fault mainly consisted
iri listening to Pullinger's representations with
regard to one comparatively small transaction,
and in privately assisting him for three er
four years to defer closing it, when a word to
the manager or directors of the bank during that
period might, perhaps, have arrested him in, the
midst of his delinquencies. ..The sterling respecta-
bility of the firm has been maintained for more than
a quarter of a century, and their friends still feel
convinced that they would never deliberately act
upon wrong principes. With regard to the general
features of the present document, it will be observed
that the committee state that out of the total de-
falcation of £263,125 only £53,285 can be traced
to have been lost by operations on the Stock Ex-
change. Another sum of £57,000, however, was
paid to a man named Nathan, an outside speculator.
Reckoning this, there remains £152,840 to be ac-
counted for, a great part of which, probably, went
upon the " turf," and will be difficult to trace, since
the amount embezzled included £83,100 in gold.
A final point in the report is of serious character
and calls for special explanation. The committee
state, that while the directors of the Union Bank
furnished them with the names of Johnston, Shel-
don, Uzielli, and Bradock, they withheld that of
Scrimgeour. To this charge the reply of the direc-
tors is understood to be that they supplied the com-
mittee with all the evidence they had obtained either
from Pullinger's papers or any other source within
their reach; that the knowledge of the transaction en-
tered into by Messrs. Scrimgeour came solely in the
shape of voluntary information from that firm ; and
that the feeling was that it would be unjust to com-
promise them upon a spontaneous admission of
facts, which apparently but for this frankness no
one would ever have known—an additional reason
also being that in the view of the directors the
affair was not one that could unequivocally be.re-
garded as a violation of the Stock-Exchange rules.
Of course, the question as to the defects of manage-
ment, by which the career of Pullinger was ren-
dered practicable remains still to be discussed.
That is an affair for the shareholders of the bank at
the meeting next month; when the Board will have
to make such apology or defence as may be in their
power. Many considerations here suggest them-
selves, but it would be undesirable to volunteer a
judgment until the whole case shall have been sub-
mitted in open assembly :