The Sun.
London, England, 1869-09-14 00:00:00

RATVLINS AND FESSENDEN.

tion was confirmed by a telegram stating that he
died during the night, and it was added that Sena-

tor FESSENDEN had rallied.
JonN A. RAWLINS was born in Jo-Davies County,
Illinois, on the 13th February, 1831, and was there-

'ore 38 years and seven months old. His boyhood

was spent in farming and charcoal burning, and the

educational advantages of his early years were
limited to attending the schools of a widely-scattered
community. Of such opportunities as the district

afforded he could do little more than avail himself

during the winter, but he neglected no means of cul-
tivating his mind, and eagerly seized on the chance
of an eight months' spell of schooling at the Rock
River Seminary of his State. He studied law in

Galena, GRANT'S own town, and when 23 years of
age his preceptor took him into partnership, and
he continued to practise there till the outbreak of
the war. On the occurrence of those great and stir-
ring events which made or marred the fortunes of so
many, he threw himself with all the energy of his
character into the contest, in which he reaped,
with but few exceptions, a larger harvest of honour
and promotion than any other officer. In 1861 he
assisted in raising the Lead-Mine Regt. of Illinois
Infantry, and was shortly after appointed to the
staff of Brig.-General GRANT then only attracting
notice, with rank of Captain. Like other renowned
Generals, GRANT has always shown an extraordi-
nary felicity in his selection of men, as well as in
his power of winning their respect and affections.
Those he took upon his staff almost invariably
prov ed very able officers, and unless killed or wounded
they remained with him till the final surrender
of the enemy. The most distinguished of that dis-
tinguished group was General JOIIN A. RAWLINS,
who attained to the very responsible position of
Chief of the Staff, with the rank of Brevet Major-
General in the United States Army. The PRESIDENT
is not a man who wastes words either in laudation
or in any other way, and not only does he mean
what he says, but to the full extent of its meaning.
When then he spoke of RAWLINS as having fully
earned all his promotions as a soldier, and as the
person who came the nearest to being indispensable
to him of any officer of the service, he intended it
as the highest encomium. After the war he con-
tinued to serve as the Chief of the Staff till the
election seated GRANT in the Presidential Chair.
On General SCHOFIELD declining to resign his com-
mission in the army to retain the Secretaryship of
War, which he then held, RAWLINS was nominated,
and he was gazetted out of the Service on the
Senate sanctioning the appointment. It was he who
took the place which ex-President JOHNSON ought
to have occupied beside the newly-elected PRE-
SIDENT in the procession to the Capitol, a
gratifying exchange to GRANT from him he
hated, to him he loved. This loss to a man who
is so attached to his friends as GRANT will be by

him severely felt., and the memory of RAWLINS will
be mourned ty his countrymen generally. With
his name is connected some of the finest passages
in American history, and it is probable that the
great strain, the wear and tear of mind as well as
body during these all-important campaigns hastened
into a premature grave one of the most gallant and
accomplished soldiers the United States has pro-
duced. The Republic may contemplate with satis-
faction the fact that it was not ungrateful to the
warrior of fifty fields, for in eight years he rose
from an unknown citizen of Galena to preside over
the Department of War at Washington, and to sit
in the Council of the nation ; a rush of promotion
such as history has seldom recorded.. Pending
the appointment of his successor, General SHER-
, MAN is to act as Secretary of War. All the De-
partmental Offices in Washington remained closed
from Tuesday till yesterday, as a mark of respect
to the late Secretary of War.
The telegram of the 6th inst., stating Senator
FESSENDEN to be much better, was followed by
another on the Bth announcing his death. He died
at Portland, at six o'clock that morning, to the
bitter disappointment of those whose fears had been
allayed by the previous message. WILLIAM PITT
FESSENDEN was one of the most able statesmen—
one of the most brilliant orators—and one of the
most upright men in the Senate of the United
States. Added to a remarkably judicial tone of
mind and of keen perception, his faculties had been
cultivated by a close study of law, and his opinion
carried a great weight in the Chamber, indeed fre-
quently led it. Ile was a man not only above cor-
ruption, but above party, and it might safely be
said thatit was owing to his well-considered decision
in the great Impeachment trial, that A NDREIVJOIINSON
was acquitted. His course on that celebrated
occasion not only displayed his character, but the
estimation in which he was held by the public.
Although chief among the seven Republicans who
then stemmed the whole force of the party current,
withstanding a pressure perhaps as great as ever
experienced, few ventured to question his motives.
Nearly all the others were openly accused of bribery,
the sums even being named which had induced them
-to take "to the long and dark track of infamy,"
but no one attempted with any such imputations to
tarnish the name of WILLIAM PITT FESSENDEN.
Indeed from the beginning it was known that by no
legal quibbles or subtle speeches could his clear
judgment and knowledge of law be warped, nor
could the overwhelming influence of his party be
expected to bend him in the slightest degree from
his fixed determination to do what he considered it
to be his clear duty as a judge. In vain the repre-
sentatives wheedled and stormed ; in vain the
press thundered and denounced ; in vain his
constituents of Maine assembled in great mass
meetings, headed by his own brother, to dictate his
course. " I take no notice," he said in the words
of Lord Eldon, " of what is passing out of doors,
because I am supposed constitutionally not to be
acquainted with it. It is the duty of those on whom
a judicial task is imposed to meet reproach and not
court popularity! The people have not heard the
evidence as we have heard it ; the responsibility is
not upon them, but upon us. They have not taken
a►n oath to do impartial justice according to the
constitution and the laws. I have taken that oath ;
I cannot render judgment upon their conviction,
nor can they transfer to themselves my punishment
if I violate my oath. The consequences which may
follow, either from conviction or acquittal, are not
for me, with my convictions, to consider. The
future is in the hands of Hl3t who made and governs
the universe ; and the fear HE would not govern it
wisely and well would not excuse me from the vio-
lation of His law." But the " war-horse" party
never forgave FESSENDEN for their defeat, and
as his Senatorial term would have expired in 1871,
we learn by the latest election news from Maine that
an opposition to his re-election was being organized.
One of the charges brought against the Senator was
that the Hon. BENJAMIN WADE, who would have
succeeded to the Presidency in the event of ANDREW
JOHNSON being found guilty, had been his success-
ful rival for the Presidency of the Senate, when Vice-
President JOHNSON passed into the White House,
from which the murdered ABRAHAM LINCOLN had
been carried to his grave. Such a charge was with-
out weight against such a man, and the course of
Mr. FESSENDEN had a great effect in influencing
the opinion of the country, for his judgment,
knowledge, and honesty were confidently relied on.
A man so fixed in principle, holding so tenaciously
to his conscientious conclusions, guided by a com-
prehensive mind, and moving towards his object with
great ability, could scarcely fail to leave his mark on
the country ; while to these qualities were added a
keen sense of equity and honesty. Hewas never carried
into extremes, but calm and judicial in his decisions,
meeting a question on its merits, little influenced
by personal prejudices. Ile was a consistent Re-
publican, and so acted throughout the war. His
loss will be greatly felt in Maine, and more still in
the great Legislative C lumber of which he was so
conspicuous an ornament, and where, we regret to
say, men such as he can ill be spared.

(From the Anglo-American Times.)
The Cable announces the death of two eminent
Americans, General JOHN A. RAWLINS, Secretary
of War, and Senator WILLIAM PITT FESSENDEN,
of Maine. Secretary RAWLINS returned to Wash-
ington on the 25th August, having that day left
New York, suffering from an attack of hemorrhage
of the lungs, which bad so far prostrated him thA
he was unable to attend to business. Next day,
DODGE.dwicil
ao
tsi
whose
g. valuedlleccisi
sieiselcldcrnreaieeftlnstlangsa.
however, he had improved to the extent of being
able to visit the War Department, and he gradually
got better till the departure of the mail. For many
months his health had been such as to cause the con-
stantly-recurring reports that he was about to retire
from office ; but recently it was believed he had re-
covered so far as to enable him to perform his arduous
duties with satisfaction, not only to himself, but
to the PRESIDENT and the country. Not long ago
the report was authoritatively circulated that his
hweahalttheve\rvaosf breetstiegraintghan it had been since the
close of the war, therefore he had no intention
t o General
eEsssiap gETia,his post, and this was
announced in contradiction of a s ory that the
PRESIDENT had offered the War Secretaryship
Secretary
Secretary
Ohdalwevi
al
hna
sade,
st
the
woshde
sent
dying—the
ttns.thishgeo n—innardis-
tinguished
the
he
. cre,
soldier was so far sudden, and its fatal
ttfiehrresmtpimnßation unexpected, although his constitution
had long been enfeebled, causing much anxiety to
3d
deer Se
newserieo rcwhentaemd et bothot
ba e that seriously
words of the telegram being " he can scarcely live
over the night." Next day the truth of the predic-

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_ . .
swept dthose of Turkey, Austria, Italy,own, and
AMERICAN INDEBTEDNLSS TO EUROPE.
and Spain become next to worthless. But what is
the connection between these, and the securities of
the United States ? While we acknowledge the
sympathy which affects the values of things wholly
dissimilar, we desire to observe that the after, if
not the immediate, effect of an European war would
be to give an enhanced value to Five-Twenty and
other American bonds, for in the general disturb-
ance that would ensue, gold would seek security ill
the safest port, and the greater the knowledge the
more readily is the answer given, that that port in
such an event is the United States.

(From the Anglo-American Times.)
The foreign indebtedness of the United States is
beginning to draw attention to some disagreeable
effects likely to be produced in the event of any
complication arising between the Republic and a Eu-
ropean Power. United States Bonds having proved
an excellent medium of exchange have been so freely
used that their flow towards Europehas never ceased,
more especially since the close of the conflict. An

English writer considers the civil war to have been
the greatest possible misfortune to England, not
merely because it deranged trade, throwing all
locomotives off the tracks, and forcing the construc-
tion of new lines to districts of doubtful produc-
tiveness, but it unsettled steady habits of industry,
led to the speculation which is the curse of the day,
thereby engendering an unsound system of business.
If so with England, this was still more the case
with the United States, where gambling is rampant,
where industries were more shattered, where pro-
perty was widely destroyed, and a huge debt accu-
mulated. Injurious as all this undoubtedly is yet
in substituting an irredeemable paper currency for
the metal basis, a wider range of rise and fall—hence
of speculation•—supervened, and what the Liverpool
employer mourned as true of England might with
still greater truth be affirmed of the United States.
To whatever side we turn we see the consequences
of that great war. In one place it created artificial
prosperity ; in another a deep temporary prostra-
tion. If it made some millions wealthy, it made
many more millions poor, it changed the course
of trade, it altered the condition of goods in quality
and supply, changing enormous manufactures, and
affecting a variety of staples ; it was felt alike in
Egypt, India, China, and Brazil, and the fact was
proved that_ifcotton was not altogether Kiag, it was
at least a Minister of wide-spread influence.
The gold of the United States which greenbacks
replaced, glutted the markets of Europe, and finally
led to the frightful commercial crisis of 1866. The
silver it replaced in France, and the dollars ga-
thered from America poured into India, produc-

POLITICAL PARTIES IN AMERICA.

There is a split in the Democratic party of New
York, as well as in the Republican party. AUGUST
BELMONT, Esq., the banker, and agent of the Runts-
CHILDS, hitherto chairman of theConvention,is asked
to resign. The World is the only Democratic paper
which upholds Mr. BELMONT, whose removal ie
strongly urged in the Ward Club meetings, night
after night. A weekly states that he was appointed
in gratitude for having advanced $20,000 to for-
ward the Presidential canvas of STEPHEN DouGLASI
but as he had taken a mortgage on a farm belong-
ing to that gentleman, receiving back iu due course
both principal and interest, no gratitude was owing'
Another paper asserts that he is disliked for being
the agent of the Romscumps, and, therefore, in the
interest of the foreign capitalists and bondhold-
ers ; that for them he induced the World's change '9f
front, so injurious to the party during the late presia
dential contest. Mr. WILLIAM M. TWEED iS SUggeSted
in his stead, and this is:but one indication of the brew`,
up of parties in the United States. Mr. AUGUST .131'.
MONT earnestly opposes repudiation ; the great nil
of his followers earnestly favour repudiation, which
those who attentively observe the current of
AOje-
rican feeling regret to see again arising into imp
portance as a question. People supposed it had been
fairly met and defeated in GRANT'S election, but 1t
is not so easy to crush out the spirit of dishonesty;
• roe.
The action of the National Labour Congress ls P
of this, for their platform embodied every repecue'
tion doctrine, and many signs show that the e°l/,'
troversy will, to a certain extent, be again re-open
ed
ANDREW JOHNSON, now one of its most pronounced
advocates, is almost certain to be sent to the Unit
p
States Senate from Tennessee, and he is a sterior
orator of that class which knows best how to pia
such cards as repudiation. While seemingly
advocate of the poor, while taking high in 1f•
ground as a patriot, while appealing to the °co
interest of the masses, he will have all the 111 be
zest in work of this in the knowledge that 111
is hitting a hard blow at those whom he cordh-cii.
hates. That ANDREW JOHNSON advocates rePll
ation is an ascertained fact, for he has openlyc 00,
o
nounced it, but we suspect he will also adveor,
Free Trade, or anything else by which he can ,
barrass his enemies and increase the number 0.1. ,„g
-
followers. Some leaders are required in the St led
capable of rallying parties around two well-deft p 9,
platforms, for the present position is anooolo
even ridiculous, and leading to absurd contrete
Let two Republicans deliver their sentiments °oat
subjects from a balcony to a crowd, and the no lace
they travel beyond dead issues they diverge ; reY
them by two Democrats, and bar abuse of their i;
ponents, when they will have nothing at all te
the one party as it now exists is little better. t t sage
orf,
a farce, though it makes a fine chapter in hlte
W es t '
ago
and the other is no better than a farce. The Ch`
Tribune, the leading Radical paper of the e
he
the Free-Trade journal ; the New York, TrilliT
leading Radical paper of the East, is the Pr°wecoll-
journal. The Chairman of the Democratic
vention of New York strongly supports the oPattie
ment of the National Bonds in gold, so d°enoil-
Democratic candidate for Governor in Pen
.0 the
vania, while the Democratic nominee in Ohl° ah 1 op
b
leader of the repudiation party. The pro
to 100
of ANDREW JOHNSON'S advent into the Sena re'
so alarmed the Radicals, that they preP° se flea'„„
'noting General BUTLER into the Upper House (0 so
tralize the other, and although the two will Perheeroct
vehemently take opposite sides that they will Acta
scenes not calculated to reflect dignityon the char botil
of the Chamber, yet, on many main issuest'ce•
are in thorough accord; in repudiation for split
1
On the Prohibition question there is no s'll3,l,ie,
in New England ; indeed, one so censidera.,'
to give JOHN QUINCY ADAMS, the Detnecratioef the
didate, a chance of being elected Govereer_ word!
most Republican State of the Union ; !toes'
there is not a single question of real living 1, ort°
upon which either party has dared to speak et'reaaa
take such a firm, honest stand as would rani oolt to
them those men who know their minds, alld 1
AO
f
principles, not place. STOKES, the de-ea tea
erviefki
date for Governor of Tennessee, when ill' ?Po
at Washington, said 4, that the Republic3uifeclo
of his State had gone to h-11," but it red the Se
less than a Cabinet Minister to tell which:4oo:
publican party was, both claiming that dee'boel
while ANDREW JOHNSON, the obstinate D° 00100
and PARSON BROWLOW, the furious Radieeie ii' into
the same candidate. In New York the sPip 'that
Republican camp is infinitely worse than
..e
their opponents ; but these organizations a itiodeej
combinations to secure shares in the publicYlaiei
,; chse
In the National Labour Congress, V"."C both, tor
connection with any party, denouncing P3'lo,
formation of a new working-man's #he 3e
of "
was advocated, and the proceedings simpil
ph
gates lead us to believe its platform to 11 soclai
socialist organisation against property
~,0 of old
ceedings would have no strength in the fa' ii.,cle"tio
nest party formation to forward clear, lige e t I is ep
v
objects, and as genuine an opposition• bet` eft
absence of this, and during the interregnu'i the
the death of the old and the successionte °
rer„orar,d
ote
parties, some queer interlopers inaY oa
occupy the field. Action is necessarifpg pOtioeo
soon be taken, whether leaders of ode° corateetl6
like it or not. A mere scramble for offiee t 0
buttba bo,
no respect, and secures no supportto atteit
der to
scramblers ; and the people would Pr oite -
bi
men who earnestly pursue a policy not ci the dig
OCY
fancy than to witness with complaee ,0 Otra
°
over the loaves and fishes of those vim"'
is for pelf only.—Anglo-American Tinta•

ing there the terrible Bombay smash of 1865, when
the community, by common consent, declared itself
bankrupt, and a general whitewashing took place.
Go where we will over the world its effects can be
traced, however unaware of the muse the people
may be who benefited or suffered. Even though
more than four years have elapsed, it is still diffi-
cult to see the end of the disturbance, and the time
when things will settle down into a sound, healthy
trade. During these years a process has been going
on which may eventuate in another great financial
smash ; and although Europe may say this time it
will be in America, facts have pretty clearly shown
that a crisis there is only in a degree less disastrous
than at home. When the war ended, and all the
great staples of the South, which formerly equa-
lized trade, had been for the moment annihilated,
the balance set strongly against America, whose
citizens found the Bonds of indebtedness the Go-
vernment had created in millions, useful as a means
to satisfy foreign creditors, taking the place of gold.
By degrees these bonds have accumulated in foreign
hands till, it is believed, thatqhey have reached the
enormous amount of £200,000,000. If the Debt had,
as is a Russian, an Austrian, an Italian, or a Turkish
loan, been raised in foreign markets, with a guaran-
teed interest payable iu the countries where the money
was subscribed, the effect would be different, for the
Bonds could not then have become a main article of
barter for equalising the exchange, upon which
all foreign traffic was more or less based. Supposing
that London in a fright shipped back to St. Peters-
burg the certificates of indebtedness of the Russian
Government no effect would there be produced,
because nobody would be bound to take them up,
and if Russian merchants regarded them as worth-
less they would sell only as waste paper, still no
derangement of trade would ensue. The case, how-
ever, with the United States differs widely, for as it
is on these bonds in no small degree that trade
is grounded, whatever tends materially to affect their
value affects the whole commercial interests of the
country. If any cause led to a Five-Twenty panic
in Europe generally, the immediate and heavy fall
coulduot then be counteracted. Instantlythe holders
who desired to sell would telegraph to Wall-street.
In a short time, if heavy sales were effected, the
panic would reach New York, and the fall would be
greater than in Europe, whatever there the decline
might be. 'The reason is obvious, and is wholly in-
dependent of American confidence in the security
of the national bonds. Failing these Five-Twenties
as a remittance, gold would be demanded to equalize
the excess of imports over exports. But not only
would Five-Twenties become unavailable for the
purpose, but the former remittances of these secu-
rities would come flying back with a demand for
gold in lieu. _ Europeans would in this claim from
America an article in quantities which had no exis-
tence in America, and be satisfied with no other.
The bonds therefore could not be supported in the
face of a European panic and in the absence of the
required gold, and they would fall just as low
as that panic could carry them on this side of the
water. Bat so far as the senseless action went of the
English, French, and Germans, they might be left to
reap the benefit of their ignorance, and Americans to
laugh at the losses it entailed on them. There is,
however, another side to this question—The ina-
bility of the United States to meet the pressure
would not be unlike that on a bank which failed to
meet its notes. Everyvalue would be disturbed, and
such a commercial crisis as bad not been known
for decades would probably ensue. Hence, the
danger to which the United States is exposed
by the magnitude of its debt held in foreign coun-
tries, and a further consequence of the war may
yet be a great financial panic in the metropolis of
the conquering States, years after it had been
brought to a successful conclusion. It is of the first
importance alike to the Union and to the European
'holder of these securities to understand the subject,
for it is ignorance alone, which could cause so
grave a disaster. But that ignorance does exist,
and will very generally continue to exist, and may
at any time produce the catastrophe, while an ex-
tended knowledge of the almost unlimited resources
of the United States could scarcely fail to avert the
danger. Suppose that there were certain capitalists,
and many men even of small means in England
and throughout Europe aware of the real value of
the bonds, this heavy decline would be to them the
opportunity to invest, and America would thus be
aided in checking the rush to sell. It is then of
much importance not only to the holders, but to the
public generally on both sides the Atlantic, that
the fullest and most correct information should be
disseminated about the Republic and its resources,
as such a knowledge may hereafter prevent the
sacrifice of scores of millions sterling through a
senseless panic. Here is a ease in point ; CHARLES
SUMNER addressed a speech affecting Great Bri-
tain to the Senate, who appeared to acquiesce in
his statements. England considered the demands
embodied therein as not only unreasonable, but
showing an intention to bully, which the country
required should be met by an uncompromising atti-
tude. English holders knowing what England
intended, but knowing nothing of what America
meant, threw on the London market in a few days
upwards of £7,000,000 sterling of Five-Twenties,
selling at any price ; and had Frankfort not com-
prehended the position in America, and been will-
ing to avail itself of the panic in England, seven or
eight millions of those bonds would have been rushed
upon Wall-street and coin demanded in exchange.
Had this happened, as it must have happened but
for Germany, the explosion of a bomb would have
produced less excitement in the gold-room, for even
that amount might have been sufficient to derange
the whole commerce of the country. As it was, the
blow staggered New York, and some great houses
failed. Last Tuesday a rumour of the Emperor
NAPOLEON'S serious illness upset nearly all values,
and created a panic on most of the Bourses of
Europe. Why the United States Securities should
have fallen it is hard for common sense to tell ; for,
at such a time, the securities of the Republic ought
to rise, but fall they did, and heavily ; and if NA-
POLEON died there might be a frantic panic in all
Government securities. We desire to ask him who
knows anything of the position, how the intrinsic
value of a United States Bond is affected by any
war or rumour of war in Europe ? We grant
that the whole line of European securities might be

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Selina Bond, of a son. • til°
*toilt
MowmtAY—On the 13th inst., at Surbi
et
IRatT111;
C. Mowbray, Esq of a son.
~ rill
MARRIAGES. 6t.3V til le'
at . Pe i 0
GARDNER—PoNcy —On the 11th inst., 1;10 , o
Thomas Exton Gardner, of Loudon, t 9 pooc), ,iel
Bois ... oe'v
youngest daughter of the late Frit IVI4iO
Portland-street. at f,l '
rt 1 *nSi., to f
HODGES —FERGUSON—On the :Ail 1,-- c• • 0,
kne'' OD,
Oxon, George Alfred Hodges of trac,„rgaS
Sli awilton-P 00 a
second daughter of William ifieury -1, " Of
Folley, Woodcote. lle'r°
DEATBS.
11
itetool 4
BARLoW—
Captain Barlowl2th, late inst.,
38th Regt., aoo. '" .0i81)0/06 30ii
Oa the at Budleig
GISBORNE —On the 12th inst., at Hyde, abi • ip, If
of Yoshall Lodge, Staffordshire, ago mabe
MEADE —Oll the 11th inst., at TorquaY,
of Sir John Mead°, K.ll , aged 83.

LoonfdNoon:lPrinted and Published by VirILLIA %1
in the Precinctl 1,10914! 021
At A.•
Tuesday, sSetprtaenmodfb,ePuirriQln4st,eairvs,o6a9yt,TinnathSotagcotteety
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