The Sun.
London, England, 1867-06-29 00:00:00

15-inch guns. Her engines and speed have lately

been tested, and she is reported• to have made 13
9-10th knots an hour. The price is said to be
£400,000. The ram Stonewall, if the report from
Washington is true, has been presented to the

Japanese Government, as remuneration for the
worthless war vessels formerly sold' to the Japanese
by some American builders. Who will recompense
the French when the Dunderberg is found out ? '
'rile ironclad Miantononzah is not to be disposed
of to Russia, that vessel having departed some time
ago to the United States.
General Sheridan has found a hearty supporter i❑
the Nation. That journal seems to consider that
the Unionist politicians in Louisiana require to be
suppressed by the strong hand of military power
equally with their opponents. There dles not exist
a more corrupt, self-seeking set than many of the
leading Unionists of New Orleans, and it will be
hard to find a worse record of knavery than a strict
investigation of the affairs of the First National
Bank would reveal. So says the Nation, and it
adds that it will give general satisfaction that an
honest soldier like Sheridan should have got his
hand on them, for it believes that no political
opinions, however sound, can make knaves and
charlatans anything but a curse to society. The
Nation fully believes the truth of what the General
has said against Mr. Wells' official career, and holds
that the country will believe it also.
The National Intelligencer has announced the
result to the meeting of the Cabinet Council, to take
into consideration the removal of State officers by
military commanders in the foliowing paragraph :
" We have authority for the statement that at a
very recent consultation of the Cabinet it was decided
that the military officers in command of the five
districts into which the ten unrepresented Southern
States are divided have no power to remove civil
officers deriving their authority from the State
Governments as now organised. The question, we
understand, before the Cabinet had more immediate
reference to the removal of the governor and other
civil offieers of the State of Louisiana by General
Sheridan, but of course will apply to the action of
the other four commanders. No doubt the forth-
coming opinion of the Attorney-General, in accord-
ance with the reasoning of which it is understood
the decision referred to was arrived at, will fully
justify the legality and propriety of this determina-
tion. It scarcely need be suggested that the issuing
of orders replacing the deposed officers (which may
become necessary as a consequence of this decision
of the Government) would be no good ground for
application on the part of General Sheridan to be
relieved from the position he holds ; much less
would it warrant the interference that the Admi-
nistration contemplates or desires his removal for
his errors."

A telegraphic despatch from Bombay, dated June
22, announces the wreck of the American frigate
Sacramento, near Cocanada. The crew were saved.
The steamship North American, of the Montreal
line, was totally lost on the island of Anticosta on
the 16th inst. She was on her voyage from Quebec
for Liverpool, and had but sailed the day previous,
having made but 270 miles. No lives were lost, and
her mails, specie, and baggage were saved. She
was nearly 2,000 tons register, and had lately been
repaired at a cost of £37,000. Being covered by
insurances the company do not lose. She had on
board, besides her usual complement of passengers,
a number of troops. While on the subject of
wrecks, we may add that the Admiralty
have forwarded to Lloyd's a telegram from
St. Petersburg, dated the 26th instant :
" The Verno steamer and four sailing vessels have
reached Archangel. The Cident is lost. The De
Capo has been abandoned. The captain of the
Verno reports some thirty vessels lost or abandoned
in the ice, and as several crews were drifting on ice
floes, he (the captain) suggests that the British
Government should send a steamer out from Scot-
land to their succour, for the owners of the Verno
were induced to.telegraph out to him to go." This
was followed by a second telegram naming the
following among the English vessels foundered in
the ice : —The Bis, the Effort, the Lorhlee, the Earl
of Fife, the Curlew, the Trident, the Prince of
IVales, the Emanuel, the Ennomia, the Rogan, the
Conqueror, the 211antanzas, and the Per severance.
Those who wish to see the horrors of such a scene of
disaster truthfully depicted should pay a visit to
Mr. Tooth's gallery, 5, Haymarket, and look at
Bradford's picture Crushed by Icebergs."

COMMERCIAL.

NEW YORK, Juno 15, 186

Money continues easy, and there is little change to note
in any respect. On Government Securities loans can be
obtained in the proper quarters as low as 5 per cent., and
good business paper is readily discounted at 5 to 6 per cont.

Several failures have, however, induced caution on the
banks. At Chicago the fall in the price of grain has in-
volved four specul .tors for the rise in heavy loss, resulting
in insolvency. A large house in the lumber trade in
Frankfort (Maine) also went with liabilities, which is
feared will approach $300,000. Two shoo manufacturing
firms have also failed, and all these go to show that busi-
ness is not at present on a very stable foundation. There
has been a considerable abatement of speculation since the
war rumours in Europe have been dispelled. The Juno 1
statement of the Public Debt was considered favourable
and has produced a good influence. Government Securities
aro strong, and steady, and the price of gold closed on
Thursday at 1371. The exports to Europe about balance
the receipts from California. Since the Ist of last July
that State has sent us $30,611,590, against $28,230,796 for
the same period of the previous year. On Saturday last
the steamers from New York took out $1,450,120, and on
Wednesday $1,117,419, which gives a total from the Ist
January to the present of $20,821,892. Mr. M'Culloch has
received several letters of advice on the financial position.
Our leading commercial newspaper, the New York Journal
of 61 ,mmerce, informs him that the time is favourable for
reviving his system of deposits for securing the better
safety of the public funds. The collection in National
Banks (whore there are no sub-Treasuries) of largo
amounts amassed from internal revenue ought to be
avoided, and the revenue gathered as quickly, as may be
by transfer drafts into the Treasury at Washington. Mr.
Colgate advises the Secretary to substitute legal
tenders for National Bank notes, and re-commence
the reduction of
.the currency $4,000,000 per month
from the Ist of May until the minimum is attained of
$500,000,000, which, at that rate, would be realised in four
years. The weather is splendid, and the crops on the
prairies are looking so well that we have never yet had a
harvest that promised better. It is impossible to over-
estimate the value of each favourable day. It has its
erect on the general markets. Railway Shares are rising
and all the leading stocks are stealing upwards Western
Railroad Stock is in good demand ; New York Central has
risen under the influence of an arrangement and close
alliance with the Hudson River ; Pacific Mail keep going
up. The People's Despatch will commence operations on
the 18th, but the National Steamship Comiany, which ex-
Governor Smith had hoped to launch, has failed to come
out. The following are the latest quotations, and I add
the prices of produce :—Gold 134, United States Five-

Twenties (1862) 110, (1864) 1071, (1865) 107, (1865 now
issue) 109/ United States Ten-Forties 100, United States
7-30 Loan 1061, Missouri Sixes 981, Tennessee Sixes
67, Virginia Sixes 67, New York Central Railroad
102},. Erie '43oi, Erie Preferred 731. Hudson River 1081,
Reading 1081, Michigan Central 1131, Michigan
Southern and Northern Indiana 691, Illinois Central
1201, Cleveland and Pittsburg 76}, Cleveland and
Toledo 1181, Chicago and North-Western 351, Chicago
and North-Western preferred 59}, Pittsburg, Fort Wayne,
and Chicago, 971 ; Chicago and Rock Island 90, Ohio and
Mississippi Certificates 251, 'Western Union Telegraph
Company 441, Pacific Mail Steamship Company 139,
Cumberland Coal Company Preferred 31, Canton Com-
pany 441, Quicksilver Mining Company 27i1„ Mariposa
Mining Company 71, Mariposa Mining Company Pre-
ferred 201, Boston Water Power Company 24.
At New York, 12th, flour was 10c. to 20c. lower, with
sales of State at $7 9c. to $ll 30c. ; Ohio, $ll to $l3 15e.,
Western 7,90 to 12,80, Southern 10,23 to 15,50 ; wheat dull,
spring nominally lc. to 2c. lower, with sales of Chicago
No. 2 at $2,15, Red Southern 2, White California 2,60 to
2,65, White Southern 2,68 ; corn dull and le. to 2c. lower,
and closed with a better export demand ; New Mixed
Western 98c. to $1,04, and Old Mixed Western 1,09 to
1,10, 'White Western 1,02, White Southern 1,10 ; oats dull
and le. to 2c. lower, State 83c., Western 701 to 72c.; beef
steady ; pork lower, new mess $21,55, prime 18,15 to 18,75,
lard firmer; whisky quiet; cotton very firm with sales of
Uplands at `2,70; petroleum dull, crude 15c., refined
bonded 23c. ; tallow firm at 11 to 11ie.

(From Messrs. Bowles, Drevet, and Co.'s Circular.)
The past week upon our Bourse has been one of un-
varied calm. Transactions have been very limited, and
quotations show but trifling change.
Americans have remained steady at the same quotations
as reported in our last circular, 821 ; but close rather weak
in consequence of the advanced rates for gold in New
York. _ .

The issues of 1861 and 1865 are gradually becoming
known, but until fairly introduced are likely to continue
at a disadvantage in value.
Sales of 1865 Bonds have occurred at 80 to 80k, and of
1864 at 79.
The Rent° closes at 69 17
The Italian closes at
Exchange ou London 25 171
We wawa the statement of the public debt of tho