The Sun.
London, England, 1867-05-13 00:00:00

Miscellaneous American News.

It is suggested in the United States that Great
Britain should cede to the Government at Washing-
ton her strip of the Pacific coast, in satisfaction of
the Alabama claims. By this means the United
States would obtain an uninterrupted right of way
to its new territory in the Arctic regions, and
Great Britain, at a small cost, would finally get
rid of an ugly claim, which may yet be a fruit
ful source of disaster. The territory is worth-
less to England, and worth little more to the
United States, but Uncle Sam has bought his moun-
tain of ice at the North Pole, and wants a carriage
drive to his Winter Palace. He is in a mood to
pay for a bauble and to appreciate a concession,
and we can see no reason why he should not be
gratified.

The President is about to pay a visit to Raleigh
in North Carolina, and he has been invited to extend
his journey to South Carolina. He will be accom-
panied by Mr. Seward. All classes of the country
combine in hoping that the President will not repeat
the incidents of last summer's celebrated tour. The
Nation suggests that " the speeches made on the
road should be chiefly devoted to the history of fo-
reign countries and questions of political economy,
as these subjects are not exciting ; and Mr. John-
son can acquit himself very fairly upon them. In the
discussions of questions V home politics he is
neither so clear nor so able. Mr. Seward must be
aware that some of the oratorical efforts of the tour
of last summer were wanting in perspicuity,
although not in force ; and perspicuity is the first
requisite in a popular oration."
It is rumoured that a combined military and
naval expedition will shortly be despatched by the
United States to Russian America for the purpose
of taking formal possession of the various settle-
ments, and also acquiring accurate information re-
lative to the topography, climate, and resources of
that country. The extension of limits to the western
extremity of the continent gives the United States
four hours and thirty-nine minutes more sunlight
than it had before.
On the 233 ultimo the election of delegate's to t
Constitutional Convention of New York passed off
quietly. The proceedings do not appear to have
excited much interests and the votes were light.
The elections for the cities of New York and
Brooklyn went in favour of Democratic delegates,
while the Republicans succeeded in nearly all the
other parts of the State. Henry Ward Beecher
was defeated in Brooklyn. The delegates returned
appear to have given•satisfaction, and seem, on the
whole, to.be an able and honest body.
The Senate adjourned on the 20th April, leaving
among a few other vacancies the Austrian mission
to be filled. It is now said that General Roscrans
will be nominated, though it was hoped that Mr.
Motley would be left undisturbed, if he elected to
remain. With respect to Mr. Raymond's appoint-
ment, the Springfield Republican remarks as follows :
......" Mr. Raymond intimates that he does not want
and will not take the Austrian mission, even if the
Senate confirm the nomination. If there should be
any doubt of his declination, we hope the Senate
will reject his name. It is of very little consequence
who is banished to Austria; but it is of consequence
to the profession of journalism, and to his own re-
putation, that Mr. Raymond shall stay at home and
conduct the New York Times. That paper's dis-
tinguished improvement since Mr. Raymond left
have
Congress, its rapid advancement to the very first
rank in the art of journalism, prove that his exclu-
sionbr ontfice opened a gain
a.'
t'
T
hereafter from public office is a thing greatly
to be desired. Let all the readers of the New York
Times vote persistently against him, whenever he
forgetsh
The
mines himself
whichso much '
as to
la run
lately fo
Guilford, Maine, are said to be very rich, and assay
in silver and lead $175 per ton, or more than four
times as much as the average yield of the great
Comstock lead in Washoe.
been
The Mississippi has sufficiently proved that
great power, and, like all powerful forces in nature,
is capable of working most destructive results. The
embankments by which the river has been confined
to its bed had never been restored from
the decay
into which they had fallen by neglect
during the
fierce war that ravaged the valley of the Mississippi.
Great powers often work through
insignificant
means, and produce mighty results.
It appears
that the levees have been honeycombed by a small
animal which penetrates in such
numbers into the
bank as in •time to undermine
the defence. The
water has burst through, the inundations each year
becoming more and more f •
ornudable. It is now said
16,000,000 of the most fertile acres are inundated.
The following extract
• from a circular of the great
commercial house of W C.
W. `Watts and Co. brings
home to trade the results,—the losses ramifying
from the cotton and sugar fields submerged, to the
counting houses of Liverpool,
and the homes of
those who never saw, and know nothing of, cotton
plantations and sugar estates.
tt Brown's-buildings, Liverpool, May 8.--Gentle-
men,—We regret to state that we have been in-
formed by telegram by Messrs. Watts, Crane, and
Co., New York, that in consequence of a lock up of
capital caused by the recent inundations of a large
portion of the sugar and cotton lands of Louisiana
and Mississippi,
they, as also Messrs. Given, Watts,
and Co of New Orleans, have been compelled to
suspend payment."
General Humphrey, of the
U.S. Engineer Corps, has elaborated a full and ex-
tensive plan for dealing with this subject. This not
only embraces larger and stronger embanktneuts,
but fresh outlets to the lakes of the delta, and en-

larged channels for the river to debouch into the
gulf. The
general Government is alone competent
to deal with so extensive a plan ; but in tune the
proprietors of the lauds rescued will be able to re-
imburse the Government.
I lostilities have commenced in :Nebraska, and the
Indian war has been inaugurated by the massacre
of a sergeant and 12 men of the 2d Cavalry, who
were killed and scalped on Taeslay, the 16th April,
while escorting the mail frotn Fort Philip Kearney
to Fort Lirainie. The place of carnage was 18
miles east of Fort Reno, and the plans of the Indians
appear to have been so well laid, that none of the
party
escaped. It is feared that the Crows will join
the hostile Sioux, in which event Fort C. F. Smith will
be in great danger. General Hancock must be on the
scene of action, and the Sioux will find the war
carried into their own villages and wigwams. When
the two columns now in the field are brought to bear,
the Indians will have something more to do than

to waylay detached escorts and to scalp defenceless
travellers. It will puzzle these savages to secure
the safety of their own broods, and all the
cunning of the warriors must be brought into
play to counteract the operations of the United
States troops now fairly on the war-path.
For a lengthened period this war has hung over the
Union, the Red Men each day working themselves
into a more hostile attitude. They have fairly
roused the country, and will now find they have
undertaken no light task in thus banding the tribes
to withstand the long threatened blow which their
ferocious acts have provoked. Uncle Sam has been
slow to strike in anger, but it is probable that when
the blow is levelled it will be one remembered by
the tribes for many a long year to come.
The New York and Bremen Company's steamer
Baltic, Captain A. G. Jones, from New York, '2oth
April. arrived at Southampton last Saturday. The
Royal Mail steams Lip Asia arrived at Queenstown
on Sunday with 64 passengers. The North German
Lloyd's steamer Deutschland arrived at Southampton
with 191 passengers, having left New York on the
25th ult. She had on 1 oard $181,923 in specie for
England, and $l,OOO in specie for Bremen. The
City of Baltimore was at Queenstown on Tuesday,
having left New York on the 27th ult.. She carried
106 passengers, and $309,500 in specie. The Ham-
burg and American Company's steamer Borussia
arrived at Southampton yesterday. She brought
117 passengers for that port, Hamburg, and
Havre, and $75,000 in specie for England. She
left New York on the 27th ult.

On Sunday the Union and the City of Paris
reached New York. On Tuesday the City of
Limerick arrived at New York, and the China at
Halifax. The CanaJian steamer Nestorian was at
Father Point on that day. The Cunard extra
steamer Tarifa and the National Steam Naviga-
tion Co.'s steamer Denmark had arrived at New
York on Monday. The Mississippi arrived at Fal-
mouth on Thursday evening, landed twelve passen-
gers, and proceeded at ten o'clock, with fifty
passengers and full freight, for Havre.
If the advices brought by the Imperatrice Eugenie,
which arrived at St. Nazaire on Thursday, be true,
General Marquez had left the city of Mexico with
6,000 imperial troops to retake Puebla. Vera
Cruz was still besieged by the Liberals under Bena-
vides- This vessel brought the Prince Iturbide.
But intelligence received from New York on
Mexican affairs is reliable. Republican accounts
always represent the Emperor at his last gasp,
while Imperial accounts describe him as ruling in
the capital, and able to maintain his own against
his opponents. Mr. Seward's messenger had deli-
vered his despatches to Juarez. In a country of
such sudden changes, our next news may be that
the Emperor hascaptured Juarez and his despatches,
and it might have been advisable to send a similar
despatch to Maximilian pleading for the life of the
Liberal leader. • •
There is positively no news from America by. the
Cable this week, except that the anticipated strike
had occurred at Chicago, and that the Public Debt
had been decreased in the month of April by 2i
million dollars. The Virginia District Court has
granted the Habeas Corpus to produce Mr. Davis
on the 13th inst.

News from Constantinople, April 28th, announces
that the intention of establishing a Turkish legation
at Washington has been abandoned.

COMMERCIAL.
NEW YORK, April 27.

There has been a hot dispute between the Jews and the
fire insurance offices of New York, which has extended
over the country. The Hebrews have decided on placing
a ban on a list of 31 companies, and have notified their
resolution to all the tribes, which has, I imagine, much
the same force as an order for a strike. Mr. James L.
M'Lean and Mr. W. W. Henshaw have been elected Presi-
dent and Vice-President of the Board of New York Fire
Insurance Companies. The investigation into the affairs
of the Pacific Mail Ship Company has proved favourable,
and the stock is again rising from the recent severe depres-
sion. The Hamburg-American Steam Packet Company
are extending their operations, and will soon have
another line running between Hamburg and Nevr
Orleans. The company has declared a dividend of 20
per cent., and are likely to do still better this year.
We have had great fluctuations in the price of gold.
The cable despatches received in New York, have
been warlike enough, but private reports have mag-
nified the rumours. Speculators eagerly seize on such
chances:of producing great fluctuations. Government Se-
curities maintain their quotations in the face of lower prices
from Europe. Indeed, the effect of war news is almost con-
fined to gold. The general impression is, apart from bears
and bulls, that a European war would have a beneficial
effect on our country. The demand for breadstuff's
and the Mauritius we could supply would increase, immi-
gration would continue on an enlarged scale, and our
securities would be enhanced when Europeans saw that
we were the only great Power that could not be involved
in the vortex. Money is very easy, varying from 4to 6
per cent. on call. Best business paper at 61 to 7. Busi-
ness is increasing as the season advances, but not on a
sufficient scale to absorb the capital accumulating. •
The following are yesterday's quotations : —Gold, 138
to 138 i. 5-20's 1862, 110 to 1101; 1861, 108 k to 1091 ;
1865 108} to 109. Tennessee 6's, 84 to 85; North Caro-
lina 6's, 63 to 65; Virginia 6's, 61 to 65; Missouri 6's, 931
to 94. New York Central, 971 to 97; Erie, 58l to 581 ;
Philadelphia and Reading., 1021 to 102; Illinois Central
1134 to 1131.

(From Messrs. Bowles and Drevet's Circular.)
We have witnessed but comparatively trifling variation
iu values at our Bourse since date of cur last circular.
The attitude of the market is undetermined and ex-
pectant, and in spite of the Conference now actually i❑
session in London, apprehensions of eventful war continue
to influence many.

The Route is higher, partly owing to the short interest
and partly to discounts, the latter now reaching daily a
sum of 7,000 to B,ooolr. of Rente, but the doubtful future
combined with the rumour of an early now issue by the
Governmont, prevents any large advance.
Transactions in United States' Bends continue nume-
rous, and to a largo and increasing extent; purchases are
being made for permanent investments. We quote
changes in price during the week :
may 3, 801 811 81; large purchasers for Germany.
May 4, 811 801 81, though higher gold rates are reported
from New York, purchases have been made for
London.
May 6, 80} 801 801.
May 7, 801 801 801.
May 8, 801 801 801.
May 9, sok 811, closing very strong.
The Rente closes at 68 70.
The Italian closes at 50 70.
The market closes active with a strong advancing
tendency.
Exchange on London, 25 14.

(Front E. F. Siztterawaite and Co.'s Weekly Circular.)

The advises from New York, per the Asia, are to the
23rd April. During the week that elapsed since our last,
there had been increasing ease in the market for loans on
first-rate collaterals, and money was freely offered at five
per cent, on Government Stocks. For commercial paper,
however, from 7 to 9 per cent. was demanded for first-rate
names. The Banks' return showed considerable alteration
in the deposits and the loans, the former exhibiting an in-
crease of $1,230,000, and the latter a decrease of
$2,500,000.
The public funds and Railroad Stocks were without any
noticeable alteration, but State Stocks wore easier, with
the exception of Louisiana, which had advanced teu per
cent.

Gold had advanced; and was last quoted at. 38 premium
PHILADELPHIA AND READING RAILROAD

COMPANY.

The traffic of the Philadelphia and 'Reading Railroad
for the month of March, 1866, compared with the same
month of 1865, is as follows :

1867. 1866.
Received from coal $480,605.01 ... $562,984.54
merchandise 129,588.68 ... 127,034.25
passengers„ &c 93,424.31 ... 89,179.48

Total receipts 6703,618.00 ... $779,/98.27
Transportation, rJadway, dum-
page, renew,tl fund, and all
chargos

Net: profit for the m0ntb...5179,272.17 5197,210.93
17 for twevious
three months... 14.2,204.61 ... 677,879.63

Total net profit for four
months 5321,476.81 ... $875,089.66.

The above traffic return for March, shows an improve-
ment on the first three months of the fiscal year, but it
still falls considerably short of former years. The startling
decrease in the earnings of the company for the past few
months induced us to inquire into the cause; the follow-
ing reply from our New York correspondent may be in-
teresting to such of our friends as are stockholders.
" The falling off in the traffic of the Reading Railroad
for January and February may be attributed to the very
severe weather, closing our river and blocking up the
lateral roads generally, also the absence of demand, in con-
sequence of the large stock of coal which had accumulated
at the various depots for shipment and distribution ; such
a winter we have not had for many years."
The advance in American Securities on the London
market, which we reported last week, has not been main-

tained, owing to the rise in the premium on gold in New
York (3 per cent.), as advised by telegraph. United
States 5.20's have ranged between 71 and 72, closing
711 to j. _ _

Illinois Central and Erie Shares have not maintained
the recent rapid advance, the former being last quoted
741- to 751, or 1 per cent lower, and the latter 40i to 41k,
nearly 3 per cent. under the price of last week.
Atlantic and Great Western debentutes and Consoli-
dated Bonds are steady, but the Sectional Bonds have
slightly given way.

(From L.P. Morton and Co.'s Circular.)
Now York, April 27.

Since our last advices there has been a steady grow th of
ease in monetary affairs. Funds from the interior show a
tendency to accumulate at this centre; while there is a
growing disposition to place money on loan rather than
employ it in business enterprises—a natural result of the
uncertainty and unprotitableness of commercial affairs.
Demand loans range at 4"to 6 per cent. Prime paper is dis-
couuied at 6 to 8 per cent.

Government securities are in active demand from home
investors, partly in consequence of the purchases of short
obligatiofis by the Treasury exceeding its issues of Conso-
lidated Five-Twenties, and partly from a disposition
among the public to change their investments from stocks
into United States bonds; and the prices of all the issues of
Five-Twenties have steadily advanced.
The speculative movement in Railroad shares has shown
rather more activity ; but the tendency of prices has been
downward, until within the last three days, during which
an improvement of two to three per cent. has been estab-
lished. The market, however, lacks real strength, from
the disinclination of the public to purchase stocks.
The prospects of the crops begin to exert a favourable
effect upon the tone of business generally. Reports from
all sections of the country represent that an unusually
large area has been placed under grain, and that the
winter crops are looking healthy. The spring has been
favourable for sowing and planting operations, and the
possibility of war in Europe has induced the Western
farmers to extend their crops. From the enlarged acreage
placed under grain, and the promising aspect of the grow-
ing the crops, it is reasonable to conclude that, with
average seasons, the supply of breadstuffs this year will
exceed that of any former period.
The cotton market has been depressed, in sympathy with
the weakness of the Liverpool market and threatening
aspect of European politics, notwithstanding the rapid
exhaustion of the Southern supply. The most carefully
drawn estimates give only about 150,000 bales of the crop
remaining for future export, against 350,000 bales for the
corresponding period of last year. Counts of the supply
at this port, made within the past fortnight, show that the
stock has been over estimated about 50,000 bales. The
consumption by domestic manufacturers has been largely
increased this year, the amount taken from September
Ist to date being 440,000 bales, or an average
of 15,000 per week; at which rate the home
consumption would considerably exceed 700,000 bales per
annum, an increase of one-third upon last year. The total
receipts for the last four weeks amount to 120,000 bales,

including 25,000 bales for last week, making the total
since Sept. Ist 1,630,000 bales. The exports for the week
are about 40,000 bales, including 27,000 bales to Great
Britain, and 12,000 to the Continent. The stock at all
ports is estimated at 410,000 bales. The advance in the
market within the last 24 hours has been very marked,
being fully 2 cents per lb. The market closes at 26i
cents for Mid. Uplands, with a dispositition to hold for
higher prices.
The indications respecting the next crop are as yet too
incomplete to admit of any estimate. Reports very uni-
formly represent that the area planted this year, is larger
than last year. The planters are comparatively free from
the difficulties connected with the scarcity and barrenness
of seed, the utter disorganisation of labour, the lack of
tools, gins, buildings, &c., and the neglected condition of
their lands. Having to invest less in providing the ap-

?liances for planting and gathering the crop, they have
ho more for use in hind and labour. These considerations
:avour the probabilities of an enlarged crop. But there

are also circumstances which, to some extent, counter-

balance these facts. The factors are generally stipulat-
ing, as a condition of their advances, that the planter shall
produce an ample supply of grain and pork for plantation
consumption, which will cause a certain acreage to be
placed under grain which otherwise would be planted
with cotton. The result of the present crop has not
been such as to leave in the hands of the small
planters the means for planting actively this year ;
and as they derive no assistance irom the factors,
their production is likely to be less this year than
in 1866. The danger to the crops of Louisiana and
Mississippi, from the broken condition of the levees of the
Mississippi River, is a serious drawback to the prospects of
the crop in that section. Tho levees cannot be repaired
this year, and the finest cotton district of the South must
therefore be constantly liable to inundation. In some sec-
tions of the South it is apprehended that considera.ble in-
terruption of labour may arise from political excitement
connected with the working out of the plan of Federal re-
construction. With so many new Contingencies affecting
the crop, it would be quite premature to attempt at pre-
sent to forecast the probable yield; it may, however, be
quite safely affirmed that the supply will largely excee I
that of last year.

Sterling Exchango closes at 1094 for 60 days bankers',
and noi for sight ; bills on Paris are quoted 5.15 to 5.134
for 60 days, and 5.121 to 5.11; for sight.

SPEECH ABOUT PRESIDENT JOHNSON.

Hon. Edmund Cooper, late private secretary of
President Johnson, and member of the last Con-
gress from Tennessee, proposes himself as a candi-
gate for re-election, and in a speech at. Shelbyville,
Tennessee, on the Ist inst., he propounded the re-
construction doctrine of the President. It varies
but littla from the policy of the Executive as enun-
ciated in his various veto messages. But as a
matter of public interest we subjoin some of the
allusions to the President, which the speaker seemed
called upon to make to the people of his own State.
Mr. Cooper said :-
4, Now, we deny that the President has brought
any disgrace on our beloved State. We deny that
he has committed any official act which sustains the
charge that he has shown any defection towards, or
abandoned any of the great principles upon which
he was elected. We deny that he has degenerated
in any manner from the high and elevated position
which he occupied as a statesman and patriot before
the country when he assumed the arduous and re-
sponsible duties of the Presidency. We deny, in a
word, that he has committed any personal or political
act justifying the illiberal and unjust charge that
he is or ever has been unprincipled in any of his
private or political dealings."
The speaker concluded with the following allusions
to the President :

's The President of the United States is charged
with having committed great crimes and misde-
meanours,' and I avail myself of this opportunity once
more to vindicate his character, and bear my humble
testimony to the firmness with which he has, un-
dismayed, resisted all unconstitutional legislation,
and as a bulwark protected the rights of the people.
Nly friends, think of him in his earlier years, when
he had been put to hard struggles for mere exist-
ence, and yet he found time for close and laborious
study. This very study made him earnest and in-
tense. Simple in his tastes, masculine and untiring
in his effort, he is of that mould in which, in earlier
times, the successful men of action were cast. He
acknowledges in life no such thing as failure, an
whatever may be his future, he has never despaired.
It was by those rare and romantic incidents which
fiction cannot invent, and which I cull with diffi-
dence from the fields of his real life, that he ascended
the social and political ladder until he has won
palpable. and distinct reputation and rank. His
very success provokes all the scarcasm of wit, all the
wails of party, all the slanders of envy, and he is now
a mark shot at by arrows steeped in the poison that
is distilled in the crucible of baffled ambition and inor-
dinate hate. You cannot know his early struggles.
Only those who know him best can fully appreciate
them, and how many years he laboured for indepen-
deuce before it was won. My friends and countrymen
is there nothing in such a life to shield and protect it?
Thick of his unconquerable hope, as he struggled
manfully against the obstacles in his pathway,
caused by poverty and want. Think of a young
heart aspiring, yet wrung, and chafed, and sorely
tried—still unshaken and undismayed, always
striving—until to-day he is the President ! Pic-
ture him as a boy, feeling with what energies he
was gifted, controlled by the three great friends
God has given to the poor—
'Faith, Energy, Time.'

faith hi the divinity that was within him, energy to
perfect its development, and time in which its great
aims could be wrought out. These talismanic -words
are indelibly stamped on him memory, and always
cheered him through hardships and difficulties.
Surely such a life, instead.of 'exciting in the hearts
of the great and good; feelings ,of,envy and jealousy,
should only make them feel that through such a
life, enjoyed as the energetic and robust enjoy it,
God's great principle of success moves and breathes,
and that thus are we taught how much of aid and
solace the many derive, from thth everlasting genius
of the few, The Vresident has, lludergone serious

trials. His strong and self-reliant nature has
never been wrapped in ease and luxury. They who
never suffer pain or encounter opposition know
nothing of the exquisite pleasure incident from the
repose from toil. The duty of the noble on earth
falls not amid the rosy garden of the Epicurean.
We may envy the man who enjoys and rests, but
the smile of Heaven settles rather on the brow of
those who labour and aspire. Success engenders in
the minds of the low and grovelling ' envy, hatred,
malice, and all uncharitableness.' They would de-
stroy, what they cannot rival or corrupt. They
would undermine by ' stories oft repeated,' which
have no existence except in the filth and slime of
their own hearts. Kennels rank with corruption,
where young dogs are fed,

Tray, .Blanche, and Sweetheart

To bark at his heels.

"And such men dare to question the integrity,
character, and political honesty of Andrew John-

-SOll-

An eagle in his pride of plum©
Hawed at by mousing owls."

COUNTB,Y MARE.ETS.