The Sun.
London, England, 1869-05-18 00:00:00

UiVITED STATES SECURI7IES.

" The policy of the London Times, followed by
other papers, is to hit the credit of the United
States where most vulnerable. All weapons are
said to be fair in war, and we do not deny that the
Republic does much to provoke the British lion.
Yet we hold these to be mean, dastardly attacks,
calculated, even when most effective, to foster and
perpetuate that very feeling it is the interest of all
to eradicate. In some papers this is openly avowed ;
as for instance in the Morning Advertiser, where

the writer of the City Article, as well. as of a letter,
perhaps from the same hand, advocates the inaugu-
ration of a financial war which will interdict Ame-
rican Securities of all sorts; bankers and money-
lenders being advised to make no advances on such
property. The writer truly asserts that the first
fruit of Mr. SUMNER'S speech was to throw down
American Securities five per cent., depreciating
their value £30,000,000 sterling. 'I his, however,
would not have occurred had the Times not aided
the damaging effect by insinuating that the bonds
were passed to Europe to be ultimately repudiated ;
that having got rid of an amount of more than one
hundred and fifty millions sterling, another hundred
and fifty millions were ready on the same terms,
and that the money so obtained was used in unscru-
pulous speculation, which would end the moment it
ceased to be thus procurable in a national smash.
Here was the cue for thd other journals, and -the
notes of warning sounded over the land so as to
make the hair of the English bondholder rise in
terror. We know not how many were frightened
out of their property, but no sooner did the "bears"
see the drift than they ran to the Stock Exchange
to sell, and the drop with which last week closed
must have made many English investors, who be-
lieve in the faith of the United States, spend an
unhappy Sunday. On Monday there was a rally,
due to the Germans taking advantage of the low
rates in London, and to the news that Secretary
BOUTWELL had commenced the long-proposed plan
of purchasing the bonds as a sinking fund, at the
,rate of $1,000,000 a week. The Times could not allow
even this to pass without that subtle manner of
insinuation by which it - has done so much to
injure American credit, while writing plausible
leading articles seemingly in the interests of peace.
The WaShington Treasury, it says, is enabled to
invest $1,000,000 weekly in bonds at the present
moment, owing to the unusual Customs Receipts on
the excessive importations of foreign goods. This
likens.the Republic to a German town, making the

very excess of the importations which must ruin it
the means-of a temporary prosperity through the
imposts collected at the gates. In the English at-
tempt to damage American credit may be recognised
precisely the-same folly as in the American attempt
to damage English commerce through Protection.
Suppose the Times, and those journals which aid it,
succeeded in creating such a scare as to bring about
the commercial crash in New York they predict,
who would be the next greatest sufferers to the
Americans themselves ?—why, the English. Is that
shopkeeper a wise man who, by underhand rumours
affecting the stability of his best customer, attempts
to drive him into bankruptcy ? The first effect of
a panic in America would be to shut up numerous
founderies and other manufactories in England, to
throw bands by the thousand for support on the
ratepayers, -to leave ships to rot in dock, and to tax
to the uttermost the homes provided for unemployed
sailors. SiippoSe, too, that the desire to lessen the
value of American Securities met with the most
complete success. According to the calculation of
these very people, one-third the loss would fall on
Europeans, and half that third perhaps on the Bri-
tish. The point of our argument is, always has
been, and always will be, that no nation can in-
jure another without the recoil hurting itself';
and where the two nations are so intimately con-
nected as the United Kingdom and the United States,
the loss of the one must be severely felt by the
other. Admitting this, and it must be admitted,
for it is an undeniable economic fact, what can we
say to the wisdom of a race that is always cutting
off its nose to spite its face? The effect of Senator
SUMNER'S speech will be felt by the United States
in a financial way for a long time. It has given a
tremendous shock here to the growing confidence of
investors. The belief in England is that United
States Bonds would not be worth more than French
assignats in the event of a war with England, and
that that event is in a high degree probable. In
Germany the confidence is so great that these
Securities are to some extent upheld, otherwise
there would have been a still more disastrous fall
following the" speech. We regret, this, as there
is..nothing- like investment for giving an interest
in any country, and 'if these Securities are
ever' to rise baoYantly it must be by growing into
la-vour on the London 'Stock Exchange. It is
easier to break down than to build up, it is easier
to weaken than to 'strengthen credit,: and Senator
SUMNER in two bolus managed to produce a fall as
great as was the rise which followed GRANT'S elec-
tion. That speech was merely intended to help
the desire for a union with Canada, and as such it
was wholly unnecessary, being only calculated
to defeat the object by the bitterness it creates,
and by generating the belief in England that
the Republic intends aggression, which England
must stand prepared to repel. The train being
thus laid, an accident might precipitate the
explosion ; or either of the nations, taking a false
step, may find itself in a position from which it can-
)not retreat with honour. Thus though the United

.

--~...~ s--~

States does not intend war, and will be surprised at
the attitude assumed by England, that speech,
backed by some unfortunate contretemps, might
c-iuse war; and the Times, believing in American
hostility, considers it fair to dam ige to the utmost
American credit in Europe. One of its cards, by
the way, was Mr. GoLDWIN SMITH'S letter to the
Beehive, a production written from Senator SUM-
NER'S town, with earnest voices so.mding in his Eng-
lish ears-praising that eloquent exposition of Ame-
rica's wrongs, and denouncing English " cussed-
ness." • 'The effect is not calculated to make a man
write in the coolest temper, and he naturally ex-
aggerates the importance of what grates so hars!lly
on bis tympanum. But this letter aids in preventing
English emigration to the States, so hateful to some,
and it therefore gets an undue importance and the
widest circulation.--A nglo-Anierican Times.

The Hon. 0-. B. Washburne, ou the 29th April,
two days previous to his departure, was'accorded a grand
reception by Mrs. John A. Dix, at her residence, No. 3,
West Twenty-first-street, New York, and a very laro
number of his friends assembled to bid him " good bye:
Mr. Frank Moore had Lot arrived from Washington, but
he alone accompanied the Minister, whose family remains
at Galena till the autumn, when they will join him in
Paris.

BUDGET OF PERSONAL ITEMS.—The President has
recognized Charles EL Hagan as Consul of the Turkis h
Empire in Philadelphia. It is tho first time the Sublime
Porte has been represented there.—Speaker Blaine arrived
at Washington, April 26, and left for Boston next day.—
Mrs. Senator Sprague and Miss Chase are in Augusta,
Georgia.--Capt. Warren Gardner and Henry Brown, both
of Gloucester, Massachusetts, were committed to gaol in
Boston, April 26, by U. S. Commissioner Hallett, charged
with purposely casting away on the high seas the
schooner Fairlight, an offence punishable with death.—
Colonel John W. Forney and party arrived in at Wilming-
ton, North Carolina, April 27, and left next day fur
Charleston.—The captain and mate of the ship Richard
Robinson, on board of which it is alleged most brutal atro-
cities were committed on a late voyage, have not yet been
arrested. The ship has been libelled for wages due the
sailors, and a criminal action will b 3 entered in the United
States Court.—The Hon. Henry Dalton, formerly Go-
vernor of the State of Connecticut, died at New Haven,
April 26, aged seventy-three years. Mr. Dalton was
the defeated Whig candidate for-Governor in 1865, but
was elected in the following year.—Ex-Senator Doo-
little has opened a law office in Chicago. This gentle-
man is misnamed, for it is his nature to "Do-much."—
John C. Breckinridge is to be chosen member of the len-
tucky Liegislature.—Mr. Clay, coloured, of New Orleans,
declined to be Minister to Liberia, for he has an incotno
of $30,000 year.—The body of Miss Sophia A. Howe, who
disappeared from Springfield, Massachusetts, last Janu-
ary, has been found in a pond near that city, but bora no
signs of violence.—The Alta Californian has "positive
and authentic" information that President Grant will
" certainly" visit California during the coming summer.--'
Ex-Governor Henry Dalton, of Connecticut, died at Nevi
Haven, April 26, aged 73.—Adelaide Greenman, a doctres:;,
has been appointed examining physician at St. Louis for 5
New York insurance company. It is believed to bo fh°
first appointment of a woman to such a position.—Edwin
M, Stanton returns $10,664 income.—. Amongst the disc
tinguished foreigners in New York is Major Hunsen, of
Norway, eight feet high.— Horatio Seymour, according to
a western paper, has boen buying extensive tracts of
land in lowa.—The Pope was 77 years old last Thursday'
—The Cornell University, at Ithaca, N.Y., is said to he
negotiating with John Stuart Mill to get him to accept a
professorship.— F. G. Jewett, the long-missing banker of
Skaneatles, N.Y., has returned home.—Mr, Hotley has
been elected a member of St. Petersburg. Academy 0l
Sciecces.—The late Major Charles 0. RogerS, of Boston,
left an estate valued at $BOO,OOO, independent of The Jour'
nal establishment, which is said to be worth $500,000.--
Mrs. Tom Hood, the younger, has written a cook-book, t')
which her husband has furnished a preface., It is called
" Tib's Tit-bits," and has over two hundred recipes.-'
General Sherman has advertised for sale his residelac°
at St. Louis, Mobile, which was presented to him by
leading citizens.—Senator Fessenden, of Maine, was
present in the Canadian House of Commons dur-
ing a debate on Reciprocity, on Thursday night"
Mr. Dana, who was recently arrested by Mr. Young, gives
the Deputy- Sheriff who did the business a first-rate notice,
as he is described as a "perfect gentleman," and the notica.
concludes, " e cordially recommend Mr. l3ancker to all
persons who wish to bo arrested."—The New
Herald thinks the recent extensive publications is
the Congressional Globe show Sprague to be a "man
`letters.'"—Ex-Governor Brown, of Georgia, retarn'
$11,618 income.—A clergyman has just been turned out
of the Boston custom-house to make room for a one-legged
negro soldier.—George W. Paschall has issued a pamphlet
in Washington, announcing himself as a candidate t°'
United States Senator from Texas, and favouring A. ;
Hamilton for Governor.—Jay Gould returned an incona°°`
$150,000 for 1868.—Victor Hugo will come to Amair
during the present year.—George Lunt is lecturing'
Boston on "New England, past and present.":—Attorne;
General Hoar has appointed as his first assistant in the
Government law office at Washington, Walbridge A.
of Boston. Mr. Field was formerly a member of the 15
firm of Jewell, Gaston, and Field.—Walbridge B. °
Boston, had succeeded J. Hubley Ashton as Assistant-
Attorney General, the latter having returned to priv°
practice. Mr. Field will act as Attorney-General during
Mr. Ho ir's visit to Massachusetts. -Messrs. Henry Cle°o
and Co., the New York bankers, were the chief purchaseici
on the first Thursday's sale of the million dollars in goy
offered by the United States Treasury.—Mr. H. St, r
leaves Liverpool in the City of Paris next Thursday l°4
New York, but he will only be absent from his busic°-
in Moorgate-street for a few weeks.
Ex-Governor Henry Dutton, who died at Nevi
Haven, Connecticut, on Monday, April 26; was born 5t
Plymouth, Litchfield county, in 1793. He was a lavd,6
by profession, and was formerly an anti-slavery Wijoiv4
In 1853 he was nominated by the Whigs for Goverllre
and was elected to that office by the Legislature, tbeto
being no choice by the people. Governor Dutton bed.,l
an ardent Republican, when that party was formed, !0,
remained so thereafter, although never an active politi01:0
He was Associate Judge of the State Court of Errors.fro
1861 to 1866, and for a long series of years has been at
head of the law department of Yale College.
Joseph Howe, of Nova Scotia, has been re-electerli,
to the Parliament of the Dominion, and his return is o°9/1
sidered as a triumph by the consolidation party. S°e And
to resign Isis seat on accepting a place in the Cabinet, r 13.
was therefore necessary for him-to appeal again to his u°
stituents.
Major7Gen. Woodward, commanding the Sec°illoci;

-AA.) •
Division NG S. N. Y has announced the folloivi`;,
appointments upon his staff :—Col. George C. Hall, E col.
neer ; Col. Henry J. Cullen, jun., Judge Advocate;
tiop
Joseph M. Homiston, surgeon ; Lieut.-Col. John B•Atiar'
Ordnance Officer; Lieut.-Col. Charles P. Gulick, '„dal
termaster ; Lieut.-Col. Robert B. Woodward, Conlittai?
of Subsistence • Major Henry L. Cranford, Aide-de-u.rietil
The Philadelphia Public Ledger says ":—Pres-11!stel
Grant appointed General Quimby to an office 10,.;je,
York; the Senate, owing to a clerical mistake, coau'J!'
Quinby ; Quimby can't qualify on Quinby's papers, 7 10
in solicitude, as Quinby's prospective salary will r-°
undrawn by Q yuimb. • 01/'
The Governor of Ceylon, Sir Hercules Rob'° Of
the Hon. Lady Robinson and family, leave to-dsio
ie
Paris.en route for Ceylon after a few months soi°9.;iae;
England. The heavy bereavement They have
in the death of their eldest daughter has called fort Sil
'deepest sympathy in their large circle of friends. ofili
Hercules was Governor of Hongkong during the lae:
in China, when he and Lady Robinson, by their utta
courtesy and kindness and unbounded hospitalitl, cols'
golden opinions from all with whom they came rLiiog
tact, and he is at present, considered to be the most
to
governor in the service of her Majesty. PP I,
The body of Mr. Peter B. Van Houton wasoota
on the 28th April in the North River, off the foot Of t.
street, with some money and his watch in his poclVdoll,t'
left his home on the sth March with eight hundred Kir
in Treasury notes and seven hundred in certified cbed 44
since which time the efforts of his family have prod
availing to find him.
Ofe°
V 171 r
LADVERTISEMENT.] Holloway's Pills. -- bote he
Existence.— This medicine el-braces every attri ,04
quired in.o. general and domestic romedy,.it overtworo
foundation of disease laid by defective food and pat,
air. In obstructions or congestions of the liveflii.sel
bowels, or any other organ, these pills are espec4o /Of),
viceable and eminently successful. They should o wito,
in readiness in•every family, as they are a mediciii„otitsi,
out fault for young persons and those of feeble C't seP to
tions._ They never cause pain, or irritate the moo 010 l'f
, o:
live nerves or most tender bowels. HollowaY'sP„st 11
the best known purifiers of the blood, and the '-'„,-ovefld
motors of absorption and secretion, which l'e-;wit;
poisonous and obnoxious particles from both S 0
fluids..

CARMARTHEN' -Ou the
17BtrifiTn/s/tAY;at
58,
, • . at,'
LovncleS4 .
, tLe Marchioness of Carmarthen, of a daughter. sok
DUNMORE- On the 18th inst at 40, Great Con'l?el.
place, the Countess of .Dunmore, of a daughter.
" - •
.21IARRIAGES. •,4 f'tj'
CHAN,TE . L - °turns -On the 13th inst., at St. Mali •-,,,,, jil
ilington, Frederick William, youngest sou of t'tiiir
Pike Channel!, Esq., of 2ocklim, to Mary Avri; •1001
daughter of the late William N. Curtis,E- °` -(1
14,
,Essex. i,il:
\\Toon-Mx-On the 15th inst., at llornsey C.-;7ll,rectiolgo
gustus Alfred, sou of E. G. Wood, Esq • of Cu a, of
side, E.C., to Annie Isabella, youngest daughter
late John Rix, Esq., of Watling-street, E.G.
DEATHS.ust., at the II -rtird'lt
ALBEMARLE -Oa the 16th i tel do r—
o
,j'
Lyons, Frances, Countess of Albentarle.
Vi lla°
GROVE -On the 14th iust at Upper Norwood, V'
.7 of
Grove, aged B,
the
TommssoN-On the 16th inst., Colonel Tom
Llwyudu House, Monmouthshire, aged 65•
ADSVs'IS:
London : Printed and Published by WILLIA -„f .- --, i 2. stra°,
of No. 112, Strand, Printer, at Tail SUN Office, Nou• 7
in he Precinct of the Savoy, in the CountY °dalook
Tuesday, May 18, 1869