The Sun.
London, England, 1869-10-11 00:00:00

CUBA.

It is stated in a dispatch from Havana that several
bands of Cuban insurgents are treating with the Spanish
authorities with a view of surrender, and this news is con-
sidered important from the location of the districts. Tho
reported offer of General Jordan to surrender his troops is
said to have been founded on official dispatches. The
special correspondent of the New York Tribune says that
annexation to the United States was the unanimous cry of
the inhabitants of the Eastern provinces.

(From the Anglo-American Times.)

The Great Republic arrived at Sau Francisco
Sept. 18, with dates from Hong Kong to the 19th of
August, and from Yokohama to the 29th. The Austrian
Embassy had reached Peking, after many slight., the cor-
respondence being carried on through the British Minister.
The murder of the Roman Catholic missionaries is contra-
dicted by the crews of Chinese gunboats sent to investi-
gate. Mr. Sends had entered upon his duties as Unit ed States
Consul at Ching Kiang. The Hong Kong Chamber of
Commerce approved the addresses of the English and
American residents of Shanghae to Ross Browne, and also
endorsed Mr. Browne's reply. Consul-General Seward
expected to leave Shanghae on the 18th of September for
the United States. The second crop of teas was unpro-
mising. A great gale had visited Yokohama, causing a vast
destruction of property. The Great Republic passed the
Galatea under command of the Duke of Edinburgh in
Yellow Bay. The English fleet was in Yokohama, and
great preparations were being made on all sides for
the reception of the Prince. The American ship Naples
was wrecked three miles from Yokohama, on the 29th of
August, during a heavy gale. The Dutch bark Jacob also
suffered severely, and put back for repairs. The Ameri-
can steamer Fang Shuey has been totally wrecked in the
harbour of Hong Kong. The English gunboat Algerine
also sustained damage. The ships Flying Scud, Aurora,
Australis, and Pinehatun are reported to have been lost in
he gale of August 20. The British ship Hamilton Mitchell,
from Louden for Hong Kong, was wrecked on the Buemna
Rocks, near the Saddles, on the 11th of August The
vessel is a total loss, but no lives were lost. The passen-
gers for New York wore:—Peter Baize, Michael Sing,
John H. Foote, Lucas P. Craig, Edward Baker; for
Europo, Commander E. W. Brook. Tho freight for New
York consists of 131 packages of silk, 5,452 packages of
tea, and 26 miscellaneous packages from China.
ELECTIONseN EReWpSu.blican State Convention of Massa-
h —With Governor Claflin re-
nominated
G
by the
Chas. Endicott of Canton was put on
c uttsfo
the
the ticket for the vacant auditorship. At the Democratic
State Convention of New York, held at Syracuse on the
22d Sept., the State ticket nominated was as follows :
Secretary of State, Homer A Nelson ; Comptroller, Wm,
F. Allen ; Attorney-General, M. B. Champlain ; Trea-
surer, Wheeler H. Bristol ; for State Engineer, Van R
Richmond; Canal Commissioner, W. W. Wright; State
Prison Inspector, F. Laflin, of Ulster; Judges of the
Court of Appeals, John A. Lott, of Kings, and Ro-
bert Earl, of Herkimer county. The resolutions have
been fully reported by telegraph. Tne working men
of New York have resolved to form a separate political
party, and the working men of Massachusetts seem to
have come to a similar determination, as a call for a con-
vention at Worcester, on Sept. 28, has been issued, the
prime mover in the enterprise being S. P. Cummings, the
head centre of the Crispin organization. So few dele-
gates are appointed by the Governors of States to the ca-
pital convention at St. Louis, Oct. 20, that the committee
announces that delegates appointed by the Congressmen of
any district would be received. But even with this privilege
the convention is hardly likely to be imposing in numbers
or character. The Tribune's Washington correspondent
thus writes: -6, The interest in the Virginia Senatorial
campaign increases daily, and, although the contest de-
velopes but little excitement, the fact that the Legislature
meets so soon as the 6th of next month makes the subject
one of considerable importance. The opinion that the
Legislature will elect Senators is generally expressed here,
and the President is known to favour an election. Gov.
Walker will not be a candidate for Senator, and the present
indications seem to be that Lieut.-Gov. Lewis will be chosen
as one Senator, and Gen. Robt. Williams the other. The
latter, however, declines to enter the contest personally,
and remains at his duties in the War Department. His
personal strength is very great, and his friends are very
active." The Conservative Convention in Alexandria,
Virginia, has nominated Mr. Reuben Johnson, of that city,
as their candidate to fill the vacancy in the Virginia House
of Delegates made by the death of Col. Close, and he has
accepted the nomination. In Maine the Senate will stand
29 Republicans to two Democrats, and the House 115 to
36. Chamberlain's majority is 8,000; the Democrats ro-
joice in their gains, but the Republican papers answer that
the light vote is the sole cause of the discrepancy, and if as
many citizens had polled as last year Chamberlain's majo-
rity would have shown a gain over the numbers at that
period. From Texts it wan asserted as probable that the
Democrats about to meet in Convention will nominate
out-and-out Democrat; as candidates from Governor
down, and such a ticket can be elected, if first-class men
be selected by the Couveetion, as the Democrats have a
irajorlty of about 25,000 in the State, but the Democrats
fear that the voters will not come up readily to be regis-
tered. Ifamilton is very unpopular =cog Democrats,
who regard him as utterly untrustworthy, and they will
be glad to get rid of the necessity of voting for him. It is
also reported that the Republicans of Texas are very confi-
dent of electing Davis if the Democrats shall nominate and
shall agree to vote for Hamilton.
There is little news relating to Cuba, either by
telegraph or mail. It is reported that an expedition, con-
sisting of the steamers Alabama, Teaser, and Lilian, with
1,600 men on board, under the command of Gen. Joicouria,

has escaped from American ports. They had appointed to
meet off the coast of Florida, whence they sailed for Cuba.
The steamer Hornet, alleged to be a Cuban privateer, put
in at Smithville, North Carolina, last Sunday for coal. She
was seized by the Marshal and taken to Wilmington,
where she will be detained in order to await the action of
the Washington authorities. There appears, according to
the report of the French Admiral on the coast, to be little
difficulty in evading the Spanish cruisers and landing men
and material in Cuba. A disabled officer, who left Jordan's
army on the 2Gth August, has arrived at New Orleans.
He gives an account of the fighting during July and Au-
gust, in which the Cubans appear eventually to have been
defeated, although at first successful. Several Americans
were among the officers killed and wounded, one of whom
was Capt. Dupont, formerly of the United States Army,
and signal officer at the Brooklyn Navy Yard. Dr.
kimmons, an American physician, who had long re-
sided in Cuba, tells of his seven months' cruel in-
carceration by the Spaniards. For the damages sus-
tained he has instituted a suit against the Spanish Govern-
ment for $200,000, and engaged counsel to prosecute his
claims. Tho Spanish corruption described both in his letter
and from other sources justifies the statement "that all
Spain is one entire ring of plunderers," while the system
carried into the island was doomed, as no people could
very long endure it. There is said to be a Roberts's clique
in Cuba, and the Tribune asks what is the share of Senor
Roberts, the Minister of Spain at Washington, in the deal-
ings of his two brothers? There appears, on the other
band, to be dissension in the Cuban camp :—" The two
krothers Marcano, Dominican Generals serving under
General Jordan, have been assassinated by their jealous
Cuban brethren. Jealousy likewise, stimulated by malig-
nity or money, has made it necessary to reorganize the
Cuban army. General Cespedes has taken command of
it in person with General Jordan as his chief of staff. The
meaning of this new combination we cannot make out,
unless it be that General Quesada has quarrelled with the
American commander. The result in any event is practi-
cally to make General Jordan the Commander-in-Chief of
the Cuban forces." The quarrel extends to New York,
where there is a split in the Junta, the officers of which
are accused of appropriating the funds levied for war pur-
poses, and a new Junta is to be formed.
One pf the most amusing articles appeared in El Cronista,
the Spanish organ in New York. We like "pluck," even
though it be accompanied with so small share of bragga-
docio, when displayed in the very camp of the enemy,
and therefore we bow to the writer, whom we would
otherwise have regarded with a mixture of amusement
and contempt. The Cronista, after showing that a war
of Spain against the American people will be exclusively
a naval and mercantile affair, that is, the most ruinous
sort of war, proceeds to prove how it could be made so in-
jurious to the United States as to force that nation of
braggarts into suing for peace within two months. It
enumerates the ships of the Spanish squadrons, and those
who thought Spain was but a third-class power as regards
its fleet, find that it is the great Republic that is in the
third class, while Spain ranks in the first class. After
thus turning the tables, it proceeds to blockade the coast
north from Philadelphia. " With the Southern ports we
shall have nothing to do. The States to which these ap-
pertain groan under the military yoke of the nation, and
long to shako it off. Who knows to what point their
hatred will go (now suppressed for the moment) should
such a war as this break out. We have letters heaped
up around us, expressing the desire that an oceasiou would
offer itself so that the writers might declare themselves
independent. Let us leave them champing the uneasy
bit which Yankee tyranny has put into their mouths,
and we will cast our eyes from Philadelphia to-
ward the North, and then fix our military ideas."
The mortal stroke will be the blockade of Now York,
which European nations will be pleased to learn, can be
made effective by "one cuirassed frigate, three side-wheel
steamers and two or three screw schooners. "This will
be the mortal stroke, fired at the heart of the American
nation, and which, at the end of two months, will oblige
it, notwithstanding its ridiculous and overweening vanity,
to beg peace with Spain. . . . We shall employ in tho
three blockades that we have indicated four cuirassed
ships, eight side-wheel ships, and five screw schooners.
And as this nation has arsenals which ought to be de-
stroyed, another flying division of four frigates, two of
these without iron-protecting sides, must go out on this
important commission along the North American coast."
From these extracts Roebuck will see how mistaken he
was about the "dumbfounded Spaniard" in America; had
he been aware how weak America really is and how
strong is Spain, his refrain would have been "Beware of
the Spaniards !" not " Beware of America !"
BUDGET OF PERSONAL.—Andrew Johnson is to
make a stumping tour in Georgia.—The man who com-
mitted suicide by jumping over Niagara Falls, Saturday,
Sept. 18, registered his name at the hotel where he slept as
"Carl Schurz, New York."—Caleb Cushing wants to go back
to China as Minister from America; but the President
Las appointed Mr. Fox from among fifty candidates.—
Admiral Hoff thinks $200,000,000 a cheap price to pay for
Cuba. Its sugar crop this year is estimated at 3,313,000
boxes, 600,000 less than last year. —Curl Schurz got
a fine silver service and lots of jewellery given to
him by his German friends at San Francisco.—Ex-
President Fillmore is to preside at the Louisville Com-
mercial Convention.—Charles Dickens's son, a lieutenant
in the British navy, is at Portland, Oregon.—Mrs. Julia
Ward Hoare is to go to the Berlin Female Convention nest
year as delegate from the New York Women's Suffrage As-
sociation. Mayor Hall, of New York, thinks the purely
scientific Humboldt celebration there "rivals any of recent
political or historical import." General George B.
M'Ciellan visited the New England Fair, and while there
au old gentleman from the rural districts, seizing both
his hands, exclaimed, with sympathetic tears cours-
ing down his sunbrowned cheeks :—" General, I am
glad to soe you! lam delighted to see you! I have long
desired to meet you! 1 always believed that you man-
aged the army as well as you knew how!"—Mr. E. B.
Rollins has been appointed by the Secretary of the
Treasury to the position of Assistant-Assessor
of Incomes for the county of Now York.—One of Brigham
Y.oung's daughters tried to elope with a young Gentile,
but was ruthlessly dragged home by a Mormon police-
man.—George Francis Train has arrived in New York;
he adheres to his intention of running for the Presidency
in 1872, but independently, rejecting all party nomina-
tions. He asks in a letter, " Would any sane man trust
the Democrats after 1860, '64, and '6B, to drive ten
jackasses abreast ?"—Colonel Ryan, who intended to
"die" for Cuba, is in Now York on bail awaiting a trial. --
Secretary Boutwell and Commissioners Delano and
Capron have accepted an invitation to the Georgia State
Fair, which will begin at Macon on November 19.
Secretary Boutwell is said to oppose an increase of the
whisky tax.--Joe Jefferson will make $BO,OOO this year
from his theatrical engagements.—George Peabody is
visiting John W. Garrett, President of the Baltimore and
Ohio Railrosul, at Mr. Garrett's seat, near Baltimore. His
host sent a special car for him to Now York. He
has increased his gift to the Baltimore Instiute, adding
$lOO,OOO to form a gallery of art.—Jem Mace, since
his arrival in New York, has been the guest of John
Morrissey and Cornelius Vanderbilt.—Sanford E. Church,
of Now York, is much better, and his physicians regard
him as out of danger.—Elwin Adams is playing in St.
Louis.—Sir Henry Holland is in Minnesota.—Tho New
York Herald says that J. Ross Browne has been informed
by the State Department that he is no longer an official of
the Government.—Parker Pillsbury is making just now
his first visit to Charleston, South Carolina. Perhaps he
ought to go on to Georgia to inspect the coloured magis-
trate who recently adjourned his court until September
31st.—A daughter of Cyrus W. Field is about to be mar-
ried to the new Governor of British Columbia.—General
Sheridan, Senator Thurman and two daughters, and D.
3PKinney of the Central Pacific Railroad are in St. Louis.
—Gen. Rosecrans has bought a rancho at San Rafael, Cali-
fornia.—Within the month ending Sept. 8 three of the 11
trustees of Bowdoin College died; Philip Eastman, John
S. Tenney, and William P. Fessenden.—Mrs Lucy More-
head Porter of Covington has been appointed Postmis-
tress at Louisville, Kentucky, vice Speed. Jess Baylis was
some time ago designated for the place, but his commis-
sion was not issued.—Mr. Wilkes, of the Spirit of the
Times, denies the report which went the rounds of the
London papers that he was to return to America in a few
days with Walter Brown, the champion sculler, and Mr.
Barnard, the amateur champion of America, passages
having been placed at their disposal by the Inman Com-
pany. Mr. Wilkes does not seem to know who Mr.
Barnard is, and he repudiates very decidedly accepting
any such favour as the gift of a passage from any
company.--Mr. Henry C. Badcock and Capt. Silvester
L'Amy, who accompanied Mr. Douglas in the Sappho
from New York to England, return in the Java, which
leaves Liverpool to-day. Mr. Greenville Kano does not
return till November.—Mr. and Mrs. Lee, missionaries
from Zanzibar, bring intelligence of Dr. Livingstone, who
was seen fourteen months ago at Lake Targanyska, to the
western part of which ho was making his way. It was
thought be was en route for Congo, or some other place on
the West Coast of Africa. Letters had been received at
Zanzibar from him, stating that he was well, but had been
deserted by the Europeans who bad accompanied him ;
these reports are, however, now pronounced to be false.—
Prince Napoleon has responded very warmly to the re-
solutions passed at the late meeting of American citizens,
asserted to have been held at the Laugharn Hotel, but
of which its manager know nothing. Captain Halpin
reported the reply to the London press, subscr:bing
himself in his letters to the different editors, " Captai❑
1151 pin, U.SA." In the American, as in the British regular
Army, officers in their signatures place their rank after,
not before, their names. —P. P. Harris, manager of the
Quebec branch of the Montreal Bank, and a broker named
Sanderson, have absconded with a large amount of the
bank's funds.--A conspiracy to release Colonel Yerger
has been discovered at Jackson, Mississippi. .

James Lorimer Graham, Esq., the American
Consul• General for Italy, has returned to the Villa Ma-
nelli, Florence, from a tour in Germany and France, and
has entered on the duties of the Consulate. Florence is
said to be very hot at present, but several travellers have
already arrived on their way to Rome and Naples.
The Uniou Pacific Railroad, or the Pacific Union
Railroad, as the Illustrated London News persists in calling
it, is likely to do an injury as well as an extensive good to

San Francisco, and we always thought, and have always
said, that it would do so. Lately we have endeavoured to 1
sketch a Territory as rich in mining wealth as it is beau-
tiful in scenery—Colorado; and it appears that the ore from
its mines is finding its way from Denver, even by waggon,
to the railroad, to be shipped at New York for Swansea to
be smelted. A hundred tons had lately been so forwarded,
and when the railroad is completed to Denver it is thought
that all the best ore raised in Colorado will be transmitted
to Wales via New York. It causes some astonishment
that such a state of things should exist as the transfer
from the centre of the Continent of ores to be smelted in a
foreign country. Still the fact is so, and it pays both the
miner and the smelter thus to deal with it. The subject
of mining in Colorado is one which ought deeply to inte-
rest the people of Wales. No where else would Welsh
miners be more at home, nor could Welsh capital be better
invested than in opening out mines in these mountains and
sending the ore to Swansea.

Not only has Colonel Powell returned from his
exploration of the Green River Canyon, but a Captain S,
Adams has reached Omaha from his exploration of the
Blue River and the Grand. His object was to reach a
point on the Colorado, up to whirls he had ascended three
years ago from the sea, and he was working under in-
structions from the War Department by which he was em-
ployed, having been engaged in this labour for the last
four years. He started with eleven men, as we some time
ago observed, from a point on the Blue River, 8 miles
from the main divide or summit of the Rocky Moun-
tains, that is from the very crests of the great wall which
eastward looks over the rolling prairies of Colorado, ex-
tending to the Missouri. From that divide on the 12th
July he allowed the waters to carry him westward through
rapids, over falls, between the walls of the canyons, till he
reached the Grand River, and by its waters to the Colorado.
In the first 100 miles the descent was 5,000 feet ; his boats,
instruments, !Mips, everything were lost. Then a cedar
raft was manufactured, and that too was knocked to pieces
in the rush of the torrents in their fall from 70 to 300 feet
in the mile. Although gratifying to Capt. Adams to find the
descent so considerable, for the sooner it reached a low
level the more likely was the Colorado to be useful as a
navigable stream, yet it was a source of alarm to most
of the party, who abandoned the expedition in the Rocky
Cave Canyon. The point to which he had ascended the
Colorado from the Gulf of California, could not, he
thought, be more than 5,000 feet above the sea level, al-
though the distance was 1,100 miler. He passed through a
succession of valleys from one mile to 30 miles in length,
with wild oats, wheat, rye, barley, timothy, and clover
growing spontaneously, while the fine cedar and oak tim-
ber increased in size. The mineral resources were found
to be of the most flattering character. Captain Adams is
on his way to Washington to submit an official report of
his discoveries to the Secretary of War, which cannot fail
to be of interest.

MONEY AND BUSINESS.
(From the Springfield Republican, Sept. 25.)

Money during the past week has been subject to a strin-
gency that has been provoking rather than alarming. The
lack of small bills and the long-looked-for and over-esti-
mated, but to a certain degree, of course, real, demand for
currency from the interior have been exaggerated and
aggravated by the efforts of the gold and stock cliques in
New York. The operators are perfectly reckless of re-
sults, and would not stop short of precipitating a general
financial crash if they saw in it a pansy profit to them-
selves. Though such a volcanic blow-off has been re-
garded by certain hypochondriacs as the only remedy for our
perturbed finances, and though the more unprincipled De-
mocrats would like nothing better than the chance
to charge upon the Republican party the heinous crime
of existing cotemporaneously with such a disaster,
and, of course, of being its cause, nevertheless the
present stringency is due to causes so temporary,
so artificial, and so well understood that there is
really no ground at the present time to "despair of
the Republic." During the week ending September
19, notwithstanding the general troublous appearance of
the market, fewer loans were made at extravagant rates
than during either of the previous two weeks. On Mon-
day and Tuesday the effect of the gold combination, which
was again being put in operation, was to induce higher
rates, especially on the street, but money was obtainable
at 7 gold and usually at 7in currency. Foreign exchange,
however, was down to 107, and on Wednesday to 105,
affording an effectual refutation of the idea that a rise in
gold would stimulate foreign trade. The whole export
business is demoralized. Our foreign customers, regarding
the present cheapness of exchange as temporary, of course
hesitate to make bargains which at present could only bo
settled by shipping gold from abroad. The cable brings
news,' however, that a considerable quantity of English
gold has been withdrawn from bank and shipped hither.
The old system of gambling in money in the " Shylock
market" in front of the Stock Exchange has been revived.
High rates of interest are charged without fear of
the grand jury, as the operation is called " turning
stocks," instead cf borrowing money, and the usury is
reckonol as a commission. The gold combination having
been to work for souse clays in gathering in the metal, on
Wednesday made their boldest run upon the specie that
was still in circulation and forced the prices front 1374 up
to 1414. This happened in the after part of the day, and
produced a scone of the widest excitement in the gold
room. The New York Times, a paper not easily excited,
insists that the bulls themselves were about the only buyers,
and that the outside gold-using public took it very coolly.
The excitement, therefore, seems to have been well re-
hearsed beforehand. At all events, though the "corner"
was kept up over Thursday, its life must necessarily be
a short one. The time for the payment of the Novem-
ber interest is at the farthest but a few weeks ahead, and
the Secretary of the Treasury has given permission for
the payment (with rebate) in advance of such coupons as
may be presented. Mr. Boutwell has about $80,000,000
hoarded, and we see no reason why be should not
sell the gold and spend the proceeds in bonds, as well as
to lay out his ordinary currency receipts in that way.
At such times as the present, when the fear of a monetary
stringency produces all the effect of one, it should be the
policy of the Government to clog the circulation of either
paper or currency as little as possible. The steady drain
from the people into the Treasury should bo relieved by a
corresponding stream in the other direction. The present
opportunity to draw upon the gold in the public vaults
will not be slighted. The bulls are well aware that their
day is short, and hence their activity on Wednesday and
Thursday. Government bonds have suffered with all other
securities, but have fallen off only a fraction of one per
cent. The purchases by the Government on Wednesday
were upon very easy terms; nearly $8,000,000 was
offered at 116.62 to 118.93, and $2,000,000 was taken at
116.62 to 117. The stock market, brother demon to the gold
clique and the money clique, has added its portion, a most
bitter one, to the excitement of the week. The projected
consolidation of the Lake Shore Railroad with the Erie and
Michigan Southern, not yet having been confirmed by the
stockholders' votes, has been slowly falling to pieces for
some days back. The Lake Shore has been in times past of
great service to Vanderbilt's New York Central, and when
there was a prospect of Fisk's getting control of it, the
Commodore at once set to work to frustrate his designs of
thus causing tho weakness latterly of the consolidation
scheme. It began to look as though Lake Shore would
after all forsake Erie (keeping such company had already
depreciated her stocks) and return to her early love, the
New York Central. Meanwhile Vanderbilt had a conso-
lidation scheme, that of the New York Central and Hud-
son, which had long been promised with copious issues of
watered stock, thus stimulating an unprecedented advance
in the stocks of those two roads, as our readers are aware
The continued delay of this consolidation has been the
source of much vexation, and the stocks had fallen off
considerably from their highest point, but still there was a
settled belief in Broad-street that it would take place at an
early day. Here, then, we have Fisk and Vanderbilt, old
enemies, each with a consolidation scheme on his hands.
The one that gets out an injunction first wins. On Wed-
nesday Vanderbilt's directors mot at Albany to con-
summate their scheme, and found themselves undone by
a " midnight injunction" served by Judge Bernard of
the Erie Supreme bench. The holders of Vanderbilt
stocks, who were anxiously listening for the news of
the consolidation and anticipating the joys of the mar-
riage feast, got instead a rumour of this injunction, and
in half an hour saw their securities go down almost at the
rate of one per cent. per minute. New York Central
dropped from 199 to 177, rallied and dropped again, and
finally closed at 181. Hudson fell from 176 to 168. The
excitement in the Stock Exchange was really intense.
Crowds of brokers were yelling most frantically and
making desperate efforts to sell. When the day closed, a
crowd of small operators had been stripped, wiped out.
Other stocks went down in sympathy, and everything was
feverish and unsettled. The coal question still absorbs
much attention, the trade being extremely dull, and prin-
cipally because buyers and sellers are so far apart. Last
week, however, according to the Philadelphia Ledger,
there was a better Southern and local demand, though it
was not equal to last year's. Prepared Lehigh for domestic
use was being sold from the Philadelphia yards at $8 per
2,000 lbs., and Schuylkill was a dollar less. The tonnage of
all the carrying companies for the week was 280,621 tons,
and for the year 9,041,275, or about 82,000 tons short of last
year's supply. There was a great lack of orders from a dis
tanca, and the miners were not inclined to reduce theis
rates so as to invite competition. Freights to Boston were
firm at $2.25 per ton, 25 cents off from the Association':
rates. A meeting of the Association to reduce the nomi-
nal rate from $2.50 to $2.25 was called. The Govern-
ment has just bought 15,000 tons at $2 less per ton that
ii paid six weeks ago. The next Scauton public coal sal,
is looked forward to with interest, as either buyers of
sellers will have to give way at that time. There wee,
some thirty mines idle, ostensibly on account of strikes,
but really from a want of orders for coal. General tend.
is doing very 'fairly. The import
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L TEE ENEMIES TO INVESTAIIiNT.

The late great convulsion in trade in New York
has attracted attention to the causes of these violent
fluctuations. The frequent occurrence of such de-
rangements cannot fail seriously to affect business'
The extraordinary success and impunity which
attended the operations of the Erie directors, bave
stimulating influence. At one stroke JAMES DSO,
junior, became notorious and enormously rich'
Some natures do not keenly appreciate the differ-
ence between sorts of notoriety. The man highest
in fame is often the most abused, and abuse, snore
especially in America, where everybody has access
to the press, and a great deal of the mud-throwing
is done through the newspapers, is more general and
less discriminating than in any other country'
There are times when GRANT, the most renowned
of living Americans, and of a character more than
ordinarily pure and patriotic, is reviled more than
any man in the country, although the very people w_ihe
do it know him to be so. Whether FISK was dubbetl
" Admiral" for his able manoeuvring on the money
market, as an English paper says, or for his sell
in managing operas, according to the correction
fleet
an American paper, or for his command over it
of steamers, as others supposed, Admiral he is called'
so we might have added that he gained rank, (D
well as fame and money, by his campaign. Indeei
"Admiral" was not a bad designation, as he defeated
Commodore VANDERBILT, and if he takes rang
re
above him he can be no less than Admiral. x-0 ef a- A
even of his kind, gratifies the pride of marl, an
o if
most likely gratifies him. Wealth is grateful
every one, and power is the passion not of, a fere
All these he achieved by a grasp, and what is naeo,
likely than that an example of such wonderful suet
cess should create imitators. We do not assert °lt
he introduced the system, for VANDERBILT and PO5O,
were adepts in it long beforensies name wasknOej
but VANDERBILT'S operations were always direetco
to a practical and beneficial result; they were /1,10
wild speculations deranging commerce to secure `he,
profit derivable from differences; nor were speenui
tors before the time of Fisx so little hampered ;
legal and other restrictions. What he and his c°o4
freres did was to carry the bad style of busieor,
which surely attends an irredeemable paper e
.eli
rency to its extreme operations, which unfortuna'oes
proved so successful as to offer to society a 1-13
injurious example. General testimony, with s°s,e,
striking exceptions, is borne to the steady in 31516.
ment in the industries of the country. Ilne31;011.
tion increases, and with it the tide of national 1)
o.to
perity. Land in large tracts is being brought op
cultivation ; old cities increase, new cities sprilteo,
with such a rapidity as to make recent maps eeseli
lete, while the iron roads connecting them red
into the wilderness, and cross in all direetis'oet,
Native capitalists are regaining confidence in ievrio
meats, while the growth in knowledge of Aille
abroad is attracting foreign capital, the owner's 13,06
learning that_there is no such .field elsewhere• tbe
most severe check given to a tide that eaneepas
arrested may perhaps b 6 found in the unscr'P'sol
operations of these " rings" of speculators. .At ,
rlji,
moment money may become unobtainable wile° o
to 0
nary commitments may entail bankruptcy even bieli
trader in a sound position. The securities on 1 to,
he relied to procure advances may suddenly Jeal;00,
ciate to half, perhaps a third, of their normal %Do
His airangenients for replenishing his store losiato
made in the season when currency is abundant' s of
he might be justified by the ascertained lap fily;
American trade in anticipating a plentiful sulirthe
yet, at the wave of these magicians' vrae(ls; to,
state of the market may instantly change, °cola
mere tightness, hut from money thrust on the pit
to finding it almost unprocurable. -Theeffeet °bets:
far beyond America, fluctuations in gold 00)
responded to on all foreign exchanges, to eol'
d
must be added the insecurity inseparable fret" wao
ing with those liable, through no fault of togs'
to be hurled from a state of prosperity in
sion. But though these militate against an",
cial dealings with America, they are but trifles
.13,
pared with the legal proceedings by which 05°b
oy
be
rations as those of some railway cliques °GOO
shielded and even justified. If the Erie dire of
can do anything they like under the shelter veaS
New York court, there is no reason, say Ellf°o3bor
capitalists, why other boards should not in likehocth
ner be protected iu any violation of the law ; bicb
whatever the conditions of the contract under
our money is borrowed, practically we r"n',3,,
itbo
their mercy ; our position being detennined":;ooor
necessities, the prudence, and the sense of ua
of the directors. If the mercantile world, n'irests
use the word iu its fullest meaning, has in 15°01
learnt a lesson, it is that no man's word i6bed
his bond; yet it is with such an equality avoropef
that American investments come before llot tiO
Europe having learnt by sad experience tcaliti;
prevailing feature of the age is commercial rljoite
The effect in checking investments in the 1306
13e, States, although but a tithe of what it wl „fen ;A
already attained enormous proportions. 't tbel
England are at their wits' end how to inves
do not know what to do with their savinglooPeil
is not a line they can take connected with
sly b
not broadly marked with the tar-brush I rotten
the Government Securities are more or lesSroe dad,
nor is there one which does not involve se of elc;
ger. The only Government Security safe aga to, 1/ti,,
ternal circumstances is that of the United Ste het"
it is rendered bad by the uncertainty whieto
.ttc 430d0,
,0
the ultimate redemption of the Five-Tweet4 13ov
the unfortunate obscurity in the issue of deprre
of which agitators have availed themselves te
thel ea
ciate their value, and which gives politiciano th
excuse for repudiation. However ornarnel3rd, ti)°,l
may be such men as compose the Erie 1353 t 130,"
are a luxury so expensive to the United t
SO* belt
o sta. 100 '
if fully appreciated, would do much t 0
proceedings by the genuine force of Pubs tople
As yet it has had no effect whatever, for P—or
1 O
mire the operations while they are novel, dash,
.111
ment, the courage, and the generalshiP „not a,,0
press storm, for FISK turns the laugh arriotel 1;r
ing editor by running him out of an coo AL
among his friends, whisking him into atto fro
ance to carry him to gaol, where he can °Os Iv,
at him through the bars. What is to bei.he 0011f#
a man like this, unless the sentiment of "boo °OOO
really condemns him, for while he is the ogero,
campaign, being as such pointed out to bat
only as among the most remarkable rnee.' oefew
one of the most successful and wealthy, be 1°
If,
held before others as an example to fel e bof
stead, the remarks of foreign Bourses igieo.ootee 1100
and the curses of those helpless foreigiteiooll
trusting to American integrity and the, Icing ijol°,
of their laws, had invested in the under'e tbedor'
people turn to their own private uses' other or
around these heroes might give way to 5131 but
lyt
of colouring, especially if individuals ee 001 d/
preciate the losses sustained by the ef l
ctlne°
a credit they thus selfishly and wanton
Anglo-American Times.

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GROrSITEXOR
Holloway's Pill
Y. and admirably is this en'
Pills.
019
til°
BIRTHS. ~qte, a
-On the Bth inst., at 62, Que,el;',..:;• 1101 ''
PR o' tile Ron. R. VT. Grosvenor, m.r.. ol 8. -,- i'cut.-- '
DlT.Crlii.AitlteDha—ldO,nßt.Ehe., 80tfh
ainssota.,. the wife a
01'
cubeoie
MARRIAGES.
, t Pi' v0,,511
1101:1USON- JANTZEN- On the 7th i., n josiltd-c
Charles Morrison, Esq.. toJohanna Julia,o,,o , ii
youngest daughter of the late Cap t. Chris wig'
•oro IP
of Dantzig, Prussia. , ci, le DL ~,,,Ct
PERKINS - HOLMES—On tho 7th inst., a- -- 611013--il)s-•
Warwickshire, John Robert Perkins, .3f On lt°
dlesex, to Emma Kate, third daughter of
Holmes, Esq., of Upper Tulse-hill, Surrel• of
1 fs44
DEATHS. ifor` 2 et
A.LEronD -On the Bth inst., Wm. Naish AI oa
Castleton House, Sherborne, aged 80. conlo
DnEw—At Falmouth, Josias Dretv, VSCI"
.ii,.
Royal Nay. ip.o;_;:
______------------- al Als pii,
London: Printed wud Published by WILLIAO,IO,,. 00'
of No. 112, Strand, Printer, at THE SUN 011100 , gido'
in the Precinct of the Savoy, in the Count/ Q'
Monday, October 11, 18,12.