The Sun.
London, England, 1858-07-12 00:00:00

TILE FBAZER RIVER GOLD MIiVES.

-
From the San Francisco Evening Bulletin of June 5.
The steamship Panama arrived here this forenoon
at 11 o'clock, from ports on Puget Sound, and
Victoria, Y.I. We have only time to lay before
our Atlantic and European readers the following
valuable correspondence, from our special
ri corre-
spondents on Frazer river and at Victoria, in re-
gard to the new gold diggings in the North—to
catch the outgoiug mail steamer for the East.
Fort Langley, Frazer River, May 25, 1858.
Since I last wrote you—on' the 11th instant—l
have been up above Fort Yale as far as it was pos-
sible to get up in a canoe. I left Fort Hope on
the 12th, and arrived at Hill's Bav, one mile below
Fort Yale, and fifteen miles from' Fort Hope, by
noon. This bar is about 500 yards in length, and
about 60 men were working on it, th .e claims being
each 25 feet front.
The river from Fort Hope to Fort Y 'ale presents
no difficulties whatever to canoes ascend' ng, except
in one place, where there is a rapid, win 'di, how-
ever, is no great obstacle, as close to the 5, Nom) in
the eddy, a canoe is easily towed past. But, about
one half mile above Fort Yale the river time's its
passage between huge rocks—the sides almost pscl'r-
pendicular—and a canoe cannot be taken any fat -
then From thence, all goods have to be packed.
Now and then a stretch of a mile or so is found,
where the canoe can be of service.
Some 200 Indians, with their squaws, were at
work on the bar when I arrived, and they were
nowise particular in seizing on the dirt which the
miners were digging up, for their own washing.
The whites were not troubling them—suffering all
and trying to promote good feeling with them—
although they were annoyed and insulted very
much.
The morning I arrived two men (Kerrison and
Co.) cleaned up 5i ounces, from one rocker, the
product of half a day's work. Myself and partner
staked off two claims, and set to work making
rockers ; and no boards being on the bar, we had,
per force, to go to the woods and fell and hew out
our lumber. Kerrison and Co. the next day cleaned
up 10 ounces, from two rockers, which I saw my-
self weighed. This bar is acknowledged to be one
of the richest ever seen. Old California miners say
they never saw so rich diggings. The average re-
sult per day to the man was fully s2o—some, much
more. The gold is very fine, so much so that it was
impossible to save more than two-thirds of what
went through the rockers. There was no quick-
silver to be had ! one man went down to Fort
Langley and bought one pound, paying $l5 for it.
Numbers of canoes were arriving every day; and
by the time I left to come down here, they were
scattered all along the river, from Fort Yale to Fort
Hope. The river was rising steadily at the rate of
about a foot a day ; and when I left, on the 23d,
the bars were nearly covered with water. By this
time all river mining must have ceased. The miners
were building cabins, &c., when I left.
Rocker irons were in great demand, but few hav-
ing brought them with them. Nails brought from
$1 to $1 50 a pound. One lot of a dozen pounds
brought s3—or two bits a nail. Afe w days before,
a canoe arrived, bringing a small supply.
A trader came up with a lot of provisions, and
three barrels of whisky, and one of brandy ; and
in ten minutes afterwards, the bar was in commo-
tion. He drew his revolver on some drunken In-
dians, who were at his tent, and instantly the In-
dians rans to their tents and brought out their
muskets, and things looked very serious for a few
moments ; not a miner offered to go to the trader's
help, however, but one of a party of boatmen from
San Francisco, who are working claims here, walked
up with an axe over his arm, and another rolled
the casks out, whilst he smashed their heads in—
an operation which met with the unanimous ap-
proval of all the white men on the bar. The miners
called a meeting and passed some laws. One of
these laws prohibited any liquor at all coming on
the bar, and any person found either selling or
giving the Indians any, was to not only forfeit
all ereeig. elaim—if ha had one—bat be sent
down tuts liver ba 4 eAnue wiatJut any pl+lll=l.
The man's name was Patsey—something, I have
forgot what ; but he certainly deserved great credit
for his nerve, to do what he did in the midst of a
crowd of excited Indians, maddened with liquor
and armed to the teeth.
At " Sailor Diggings," above Fort Yale, they are
doing very well, averaging from $8 to $25 per day
to the man. The water was rising fast on them,
however, and they must soon be at a stand-still.
From the best authority I could get, I find that
the river will be at its height about the middle of
June, say the 20th, and about the 15th of July
will commence falling.
Flour was selling at $lOO per barrel, or $5O a
hundred, at Sailor Diggings. It was selling for
$45 at Hill's Bar when I was there. Bacon was $l.
per pound. At Fort Hope there was nothing but
dried salmon, at a bit apiece, a little flour, and
some tea, for sale.

I left Fort Yale after breakfast, and arrived here,
stopping at Fort Hope on the way, before sundown.
It took me five days to go up the river over the
same ground, so you can form some idea of the
current. Here I found the Company's steamer
Otter at anchor, which had arrived from Victoria a
few days ago, with the launch of the war steamer
Satellite astern, armed with a brass 12-pounder,
rend manned with a crew of some thirty marines
and sailors, with lots of rifles, an. I also learned
that the Satellite was anchored off the mouth of
the river, and no goods .or provisions were to be
allowed to enter the river for the purposes of
trading. Miners were free to go and come, with
their tools and provisions only.
Governor Douglas was here and some of the direc-
tors of the Company. Some 100 men were camped
on the beach, and more continually arriving. A
Chinaman from the Sound had opened a " Miner's
Home," in a log cabin ; and the fare he offered
really would have done no discredit to a first-class
restaurant.

The miners were in great commotion about apro-
clamation which appeared on the gates of the
Fort, a copy of which I enclose to you, published
in the Bulletin, which prohibits the bringing in
of any goods, or in fact, attempttng in any way to
trade on this river, or in this territory. The Hud-
son's Bay Company claims the sole right to all
trade and jurisdiction over this country, by right of
their charter from the English Government, and
subsequent acts of Parliament. This clapped a
stopper on ten out of eleven persons who were
hurrying off to the Sound and Sail Francisco, for
the purpose of bringing in goods, kc., their visions
of fortune and " piles' were dissolved like snow in
-warm water ; and the long faces on the beach sug•
gested to one not knowing the cause, the idea of
their having heard of the demise of some near rela-
tive or dear friend.

The license to work in the diggings is to be $5
per month ; but will not be demanded, I believe,
until the Company are enabled to give the miners
some protection in returnreither through soldiers,
whose arrival, it is rumoured, le daily expacted in
the II ananuah, a British ship of war, or through
a local police.
The Governor is about starting up to visit the
mining regions. He has been visited by great
numbers of the miners, and has, so far as I can
learn from them, evinced every desire to supply the
mines immediately with goods and provisions,
whilst he is determined to enforce the rights of the
Compaay. It is understood that the Company will
send immediate supplies up, and will furnish them,
to the miners at reasonable rates.
I have been informed by a friend in the Com-
pany's service, that arrangements have been nearly
concluded with the Pacific Mail Steamship Com-
pany, to run a line of steamers to Victoria, V. 1.,
from San Francisco—the Hudson's Bay Com-
pany to have control of the line, so far
only that their freight is to be brought up in
them. Passengers, on their arrival at Victoria,
are to be charged 2 dollars a head. The Company
intend immediately to place a steamer on from
Victoria to the river running up as far as Fort
Yuba.

One can but imagine what this river and the
upper country, for so long the solitary home of
the savage, will look like in six months from now.
The tdd English and Scotch employes of the Corn-
rpany seem like so many Rip Van Winkles already
men who have been been out here 20 to 40 years,
drand who sometimes have not seen a white man for
a year at a time, whom no difficulties or dangers
seem to daunt.
Yesterday afternoon a canoe arrived from the
mouth of the river wita the body of a man, named
Charles Adams, a trader. was shot through
ike heart by one Chas. McDonald, whilst en-
camped near the mouth of the river, on his way
to Point Roberts. It appears that the two
were partners. Adams owed McDonald some
money, and left here the day before. McDonald
left shortly after, making threats that he would have
either his money or Adams' life. He caught tip to
Adams, and, oirlandn g, called Adams to one side,
tr, talk i
; and whilst Adams was sitting upon a
stump smoking his pipe, McDonald drew his re-
volver, some ten paces off, and shot bim. McDo-
nail then took all the gold dust and coin which
Adams had in his canoe, and left. A boat was sent
after him from the Satellite on their receiving
notice of the above, but I have not learnt whether
they caught him or not. If they do—&c., &c.
They held an inquest on him this morning, here in
the fort, and the verdict was in accordance with

- •
the above circumstances. The case being one to
which the people here are not accustomed, I% Ir. G.
W. Tennent, of San Francisco, was request ed to
act as foreman of a jury to investigate the of fair—
from whom I learn the circumstances. It 1 vas a
cold-blooded murder, and if McDonald is can ht he
will have but short shrift. •
I intend remaining here—perchance at an ode in-
terval taking a trip to Victoria, until the :river
commences falling, when I will start for as far' up
the river as I can get. lam told that the gol .d is
much coarser on Thompson river than it is on 1 rra-
zer river. I saw yesterday about 250 doll. of coarse
gold from Thompson river in pieces averaging 5 dc ds.
each. Some of the pieces had quartz among thei n.
I made a mistake in calling Hill's Bar, KerrisoL is
Bar, in my last letter. Hill was the last miner on it,
and with his partner has made some 500$ in abomt
16 days' work.
There is a great crowd at Bellingham Bay, ap
parently waiting for " something to turn up. '
Many have come over the trail from Shuawap Lake
—some 40 miles—from whence they reach the
river in canoes, and may have tried it only to return
to the Bay. None whom I have heard but pro-
, nounced it a humbug ; but they say that a trail
can be opened, when it will be easy enough to
cross. But, of course, the arrangements which the
Company are making to run a steamer from Vic-
toria, will render the route from Bellingham Bay a
I nullity, since the other will be much the best route
from San Francisco, to reach the mines, besides
being the Only route by which the company will
1
allow trade a:id travel to enter the country.
It was very w,Nrm whilst I was up the river. Fort
Yale was a perfe,/t oven, being surrounded by
.mountains. Canoes I,zre very
xisen from 80 to 400 doffs: scarce ; the price has
Many parties have made
light boats, but a canoe is Oluch to be preferred for
seoending the river.
3y some men who have just ;:rrived from Sailor
,3y
and above here, I learn .4,hat the river in
covered the
the plast two days has completely.
brought
digging, having risen three feet. Th:4Y
down 679 dols. in dust amongst three fa I,` them—
the result of twelve days' work. The gold iP very
fine ; they say that if they had had quicksilver th,'W
would have had much more.
The Satellite is anchored off the mouth of the
river and is overhauling every boat entering the
river, not allowing any goods to be brought in.
The Otter is landing about 90 tons of provisions,
etc., which came up from San Francisco in the
Commodore.
The weather has been very fine since I have been
up here, though the past few days we have been
visited with plenty of rain.
I send you a sketch of the river up as far as I
have gone myself ; and above there from informa-
tion I have obtained from the Company.

VICTORIA, VANCOUVER ISLAND, May 31, 1858.

The Panama anchored cif the mouth of the harbour
at daybreak this morning. As the arrival of a mail is
THE event of this and every other civilised community,
the inhabitants were astir earlier than usual. This
amendment to their general habits may be continued
and will certainly tend to their benefit.
Since my last communication, Governor Douglas has
issued his prosilamation in regard to the traffic on and
navigation of Praiser river. The document appeared on
the 11th inst., although dated six days previous. The
tenor of the language is doubt, hope, and promise. For
a legal instrument, it possesses these strange and unusual
qualities. I have before me copies of correspondence,
addressed to the Governor, relating to this proclama-
tion ; his reply thereto is delayed by absence.
Vessels of any flag or class can obtain et this port a
clearance for Fort Latigley, Frazer river, at a cost of
12 dole—decked boats, 6 dole. This " permit" is
granted for passenger conveyance only, and for the sup-
plies and implements snob as miners generally require.
Merchandise on sale or freijiit will not be allowed to be
landed at Fort Langley—the Hudson's Bay Company
being determined to Monopolise the entire trade within
their boundaries. I very mush doubt, however, if they
will effectually succeed in doing so. H.B. M. steamship
Satellite is anchored off the mosith of Frazer River.
Every vessel entering is boarded, and the Governor's
proclamation is read. Furthermore, they are told that
the Hudson's Bay Company will seise them, if they pro-
ceed. It is very evident, however, that Captain Prevost
will not do so—indeed, I doubt if he h'ae the power—
certainly he has not the desire. Yet in using his ship
and name for the Governor's manifesto, Is fills a form
of law, and nothing more.
The licence to mine alluded to by the Governor is not
ready for issue in duly printed form. The rate fixed
upon for ti.ia de,;Lato privilege is one pound sterling,
equivalent to five dollars, payable monthly. ..a.t the
present moment, there is not a miner who has taken
any licence, for the reason that everything on the dig-
gings is in a state of chaos. At this early moment
they are without any proper officers or protection of any
kind. As soon, however, as these matters become re-
gulated, this or some other method of taxation will be
adopted and enforced. I have no doubt the Govern-
ment will form a similar class of legislation for these
gold-fields, as they have done in the Australian Colo-
nies. If they do this, no reasonable miner can object,
as many now in California can attest the spirit of fair-
ness which actuated the decisions of the various gold
commissioners in Australia.
Yet, while Governor Douglas Is the representative of
the British Crown in these dominions, it cannot be ex-
pected that he will ever hoist the ensign of a " fair
field and no favour." The interests of Governor Douglas
are closely allied to the Hudson's Bay Company, of
which he is chief factor. The dividends of Fenchurch-
street, where the Company's office in London is, touches
his patriotism. No broad and comprehensive legisla-
tion can be hoped for while Governor Douglas wields
the sceptre of power the anomalous position which be
holds forbids it. Free action and free trade clash against
the dividends of the Hudson's Bay Company. Then,
would it be natural to suppose that chief factor Douglas
would curtail these for the benefit of his country, from
which he only derives the bare honour of being her re-
presentative? This state of things, like other incongruous
facts, must soon cease; and chief factor Douglas will re-
turn to that sphere to which he properly belongs. His
position is destined to be filled by some gentleman of
the British realm, whose statesmanship, capacity, and
liberal sentiments are equal to the times and the occasion.
Such is devoutly to be wished, not alone by the writer,
but by every free and independent colonist. Alas, there
are but few such. Their usual paltry indebtedness to the
company keeps the few that have the power from being
outspoken, and they bend their knees and yield their
sentiments as willing victims to a rank and gross mo-
nopoly.
The news from the gold fields continues favourable,
although the river had risen considerably and compelled
many to cease working. In my previous communica-
tions I recommended those who had " the fever " to de-
lay their departure. On this account I renew the admo-
nition. The month of July is quite soon enough to
make the start, yet, if. persons will persist, they at least
can look at the columns of the Bulletin and see how
earnestly and sincerely they have been advised.
Many of the colored people who are here, Archy Lee
amongst them, purpose remaining. They are delighted
with the social equality and fraternity accorded them ;
but I warn these colonists against amalgamation. Is
there a stain or curse so great ! Let the negro be
treated justly and humanely ; but cast aside social dis-
tinctions and privileges and you elevate him to a sphere
of equality which is dangerous and terrible to contem-
plate. How I wish that I could collect five hundred
Sambos with the mercury at 100 degs. ; I would suddenly
let loose this mass of fetid current upon those who know
not any difference between the races. This at least would
be evidence of how much stronger are the " brudder
blacks ;" and in "my mind's eye" I can see hones*
women retreat in a whirlwind of disgust, shame, and
mortification. If slavery is wrong, which has to be
decided by those alone among whom it. exists, the falqe
education of white children of perfect equality of the
blacks, is a monstrous wrong, an infamy which, if per-
pAuated, must bring curses and confusion upon any
people or country.
There are a few land speculators here whose merits
are as well understood and appreciated as they are in
your city. As usual with this class, they are over ready
to portray magnificent streets and residences, and rail-
roads and gas-works. Unfortunately for them, the bare
lying—laying, I mean to say—of the latter, sooner or
later, consumes their shadowy fortunes, drawn by the
purchase of a few forest acres, which they would induce
innocent and benevolent minds to believe would soon
grow churches, schoolhouses, and babies, instead of wild
trees and barren rocks.

At the sailing of the last steamer from San
Francisco, the excitement about the new gold dis-
coveries at the Frazer River was on the increase,
and thousands were preparing to leave for the new
diggings. The following are extracts of private
letters to gentlemen in New York city i

" San Francisco, Jane 4.
" You will be astonished to hear of the Frazer River
excitement. There is not a doubt of the gold fields being
extensive and exceedingly rich—as rich and large as the
California placers of '49, and, if report be true, more
rich. The excitement in the State is immense, and thou-
sands are awaiting the news by the Panama, now coming.
If she confirms former reports, there will be a grand
exodus from here. This new gold field must start an
immense immigration from the Atlantic States."
Another letter states :

" The all absorbing topic just now is the new diggings
at Frazer's River, whiCh has set all California in a blaze
—almost equal to the first days of the discovery of gold.
The miners in many parts of the country are preparing
to leave, and for the next four months the ships on the
route cannot carry the crowds that will offer. I will
not give my opinion as to the permanency of the new
discovery and the effect of it on oor population, but
others better informed than I am say it will strio this
State of at knit 25,000 the coming year. The Pikes'
(people from Pike county, Mo., alias ‘Greybacks') are all
for the new diggings at Frazer's River, and it is esti-
mated that over 1,500 are in town awaiting the chance
to go. The steamer Panama will have, on the 7th, all of
500, and could have 1,000 if she could take them. It is
supposed that the prices of labour will materially ad-
vance, say 25 to 50 per cent., if this excitement continues,
and I see no reason to doubt it. Labourers in the mines
are already demanding $5 per day, instead of $3, which
has been the price.
" P.S.—June s.—The Panama is just in. The news
from Frazer's River is great ; gold plenty as blackber-
ries ; the city is full of excitement, and the prospect is
that thousands will go."

THE UNITED STATES.

(From the Times Correspondent.)
NEW YORK, JUNE 29.

The excessive heat of the past four days has sus-
pended all business. The sun has blazed down from
a brassy sky without a cloud to intercept its rays.
The heated bricks and stones in town have turned
the atmosphere they reflect into something resem-
bling what I suppose the interior of an oven may
be. In the country' the foliage of the trees has
withered under the blaze. Not even the usual sea
breeze has come in the evening to relieve the ex-
hausted frame. The long hot nights have been
more insufferable even than the day. From
every quarter we hear the usual acounts of the
effects of such protracted and powerful heat upon
the imprudent labourers. The columns of the
journals record many instances of death from
sunstroke, sometimes instantaneous, sometimes
with more protracted suffering.
The Moses Taylor arrived from Aspinwall on
Sunday with $1,799,502 in gold. The reports of
the gold discoveries on Frazer's River are fully con-
firmed. All doubt in regard to the richness of the
mines is dispelled, and the floating vagabond bor-
der-ruffian gold washers of California were moving
up in mass. The considerations which should in
fluenoe prudent men—viz., the difficulty in getting
there, the cold climate, the impossibility of working
for at least two winter months by reason of the
cold, the high price of provisions, and the immi-
nent danger of a conflict with the hardy tribe of
Indians, whose rights the white vagabonds never
regard,—these considerations have no weight with
the class of men that are in motion. The authork-
ties of the Hudson's Bay Company are evidently
alarmed at the prospect of such an invasion. They
have issued a proclamation, warning persons from
entering Frazer's River for the purpose of trade,
such acts being contrary to law and infringements
upon-the exclusive rights of the Hudson's Bay Com-
pany ; and that all persons, boats, and ships, found
14 days after the date of the proclamation in Fra-
zer's River, or in any of the bays, rivers, or creeks
of the British possessions on the orth-west coast
of America, without a licence from the Hudson's
Bay Company, shall be liable to forfeiture, and will
139 seized and condemned according to law. There
is pi.,ntty of trouble ahead. The class of men whom
the Coi:lPanY Propose to exclude have not much
respect for proclamations. They have as little re-
gard for such sort of " powder," and as little re-
spect for a paper claim to the exclusive occupation
of a continent, as the British fleet had for the
similar claims of Commissioner Yeh. Ido not sup-
nose that any attempt would be made to enforce a
forfeiture of a vessel. The mere assertiou of the
right appears to have stirred up the gold diggers
wonderfully.
The same steamer brings intelligence that the
Governments of Nicaragua and Costa Rica have
granted to Mr. Vanderbilt and his associates the
exclusive right of working the transit route by way
of San Juan,—the river and lake. The former grant
to the Transit Company is revoked for failure on the
part of that company to comply with the conditions
of ihe grant ; and now Mr. Vanderbilt has ob-
tained, for the little sum of 100,000 dols. lent to
Nicaragua (and for which a State Royalty upon the
income is ple.dged)
dole., the control of the route, and the possession of•
and the further sum of 32,000
all the property This
transfer and grant are said to have been anterior
h eT6hthe
day
0,.c. the former companies.
datedß e l ly.
t.
to of
I thenc
osruppopr
ao
ts
icodn oanscpe
us sbi
loins
hteoui Mi
s.
of May. The concession referred to in it is dated
the gth day of March.
We have also, by the same source, intelligence of
the completion of the proposed arrangement for
consolidating the separate republics of the Isthmus
into a Federative body, with a common central
Government. This measure was recommended by
the United States' Government many years ago ;
but at that time the difference between the States
of Costa Rica and Nicaragua ran so high, and the
mutual jealousy between the United States and
Great Britain was so great, that it was impossible
to bring it about.
The relations between the United States and
Mexico are complicated by the retirement of the
United States Minister to that country, who has
demanded his passports in consequence of the at-
tempts to enforce the involuntary loan. The cor-
respondent of the Tribune says—with what truth
I cannot say—that
" It is probable that Col. Forsyth bas asked for
his passports, eho elug the intcretion of Mr. Bu-
chanan
to recall him, and wishing to withdraw with
an imaginary eciat."
The intelligence from Utah by way of San Fran-
cisco confirms that received by the overland
route. Only a few Mormons remained at Salt
Lake city to take care of the crops. Three sur-
veying parties had gone southerly in different
directions. Some supposed that Brigham Young
had selected as the place of his future residence an
unexplored tract of 'country between the Central
route and the old Spanish trail to New Mexico ;
while others, probably better informed, sup-
posed that Sonora, or one of the adjoining Mexican
States, was to be the future home of the Saints.
While the United States' Government are driving
them out at the point of the bayonet because their
theocratic fora. of despotism and their social insti-
tutions conflict with those of the rest of the United
States, and make an existence under the same
Government impossible, doctrines more extraordi-
nary than theirs and more subversive of all that is
good in society are freely proclaimed under the
very shadows of the Puritanic mountains of New
England.
Persons dissatisfied with the rest of the world,
and admirers of themselves, have j net been gathered
together under a canvass tent among the mountains
of Vermont, with an explosion of gasconade ribaldry
and lasciviousness that puts Brigham Young to the
blush and Mormonism in the shade. Marriage is
denounced as the cause of the slavery and degra-
dation of woman, whereby she loses the control of
her name, her person, her property, her labour, her
affections, her children, and her freedom ; and a
pretty delegate from New York—representing what
department in our Babel I cannot say—on "the
sunny side of 30," with pretty curls, bewitching
smile, sparkling eyes, and sweet elocution, held
forth upon this text in a speech that fills a column
and a-half in the morning journals. She treated her
subject con amore, but in language that will hardly
bear transcribing. Discontented minds of every
sort were there represented, complaining—some of
the restraints of the marriage tie, some of the weight
of the Church and religious institutions, some of the
sin of slavery, some of the unjust distribution of
property—all of the sinful mote in the eyes of
offending friends and strangers, none of the beam
that was blearing their own vision. Two or three
times a-year there has to be just such a " stampedo"
of "isms." The public is amused or shocked, ac-
cording to its fancy, and the spread of these pecu-
liar tenets is effectually checked by the absurdity
of the display.
The Bank statement for the week shows the fol-
lowing comparative results :
June 26. June 19.
Capital ... $66,717,000 ... $66,717,000
Loans ... ... 118,823,401 117,797,047
Specie 31,948,089 ... 32,396,456
Circulation ... 7,215,689 7,297,631
Gross deposits 101,961,682 ... 102,149,476
Exchanged ... 15,825,983 ... 16,868,521
Undrawn... ... 86,135,699 ... 85,289,949
In Sub-Treasury 7,461,599 ... 7,685,876
The Treasury Department advertises for one-
half of the loan authorised by the late Act of Con-
gress. • The following is the notice :
" Treasury Department, June 26, 1858.
" Sealed proposals will be received at this depart-
ment until 12 o'clock, noon, of Monday, the 9th of
August next, for 10,000,000 dol. of stock of the
United States, to be issued under the Act of the
14th of June inst. Said stock will be reimbursable
in 15 years from the Ist of January next, and bear
interest at 5 per cent. per annum, payable semi-
annually on the first days of January and July of
each year.
"No bid will be received below par, and none
for any fraction of I,ooodols. No bid will be con-
sidered unless one per cent. of the amount is de-
posited, subject to the order of the Secretary of
the Treasury, with a depositary of the United
States, whose certificate of the same must accom-
pany the bid. In all cases the bids must be nu:
conditional, and without reference to the bids of
others, and must state the premium offered therein.
"The sealed proposals should be endorsed on the
outside of the envelope Proposals for Loan of 1858,'
and be addressed to the Secretary of the Treasury,
Washington. The sums which may be accepted from
any bidder will be required to be paid to the depo-
sitary of the United States nearest to his residence,
or indicated as most convenient by him. Should
bids be accepted from parties not residing within
the United States, they will be required to deposit
the principal and premium with the Assistant-
Treasurers at Boston, New York, Philadelphia, or
New Orleans.
" Certificates of stocks for the sums of $l,OOO
each, payable to the successful bidder or bearer,
with coupens of semi-annual interest from the Ist
of January next, also payable to bearer, attached
thereto, will be issued for the amount of the ac-
cepted bids upon the certificates of deposit to the
credit of the Treasurer of the United States with
the depositaries of the United States. The stock
will in all cases bear interest from the date of such
deposit. The interest from that day to the Ist of
January will be paid to the successful bidder or his
attorney by the depositary where the deposit was
made.
"Successful bidders will be required to deposit
the principal and premium of their accepted bids