The Sun.
London, England, 1867-01-22 00:00:00

Miscellaneous American News.

THE EXCISE LAW—DECISION OF THE SUPREME
COURT.—Albany, Dec. 31.—The Supreme Court
has given its decision upon the constitutionality of
the Excise law, in the case of the Board of Excise
v. S. Jackson S. Schultz. Several other cases were on
the docket, involving the same points. The Court
unanimously affirms the judgment of the Court of
General Term. The Court held that the provisions
of that act were within the scope of legislative
authority, which extended to all subjects not pro-
hibited by the Constitution ; that there is no con-
stitutional restriction prohibiting the right of the
Legislature to regulate the traffic in intoxicating
liquors ; that such regulation dues not interfere with
or restrain one of his liberty or property; that licenses
to sell liquors are mere temporary permits to do that
which, without such permit, would be an offence ;
that such license is not a contract between the State
and the licensee, giving to the latter any vested
right ; that such licenses are a part of the internal
police system of the State, such as are useful in the
exercise of police powers, and are always subject to
the control of the Legislature, which may make,
modify, or continue them at pleasure.

DEAD BODIES SHIPPED FROM PHILADELPHIA.—
Bo STOIC, Dec. 31.—While the steamship Saxon,
from Philadelphia, was discharging her cargo to-
day, a box accidentally broke open which revealed
two dead bodies. Upon examination another similar
box was discovered. Both boxes were directed to
Brunswick, Maine, and it is supposed were designed
for dissection. They were sent to the dead-house.

The cost of maintaining the police of New York
this year has been $2,338,406.38.
Desertions from the British navy in American
waters average five per cent. daily. _ _ _

The cost of the printing, lithographing, and bind-
ing ordered by the United States Congress for the
year ending September 30, 1866, was $1,018,000,
and for the Executive and Judiciary Departments,
$623,000.
HEAD CENTRE STEPHENS.—The New York Tri-
bune of Jan. 1 says :—" At a late hour last evening
information was received at the Tribune office that
James Stephens, the Fenian Head Centre, had
been boarding at No. 308, East Thirteenth-street,
ever since his mysterious appearance some weeks
ago, until within four days, under the name of Wil-
liam Scott. Two or three of Stephens's principal
adherents were conversing with the Head Centre on
Sunday, the 22d December, and, becoming alarmed
about the report in the Tribune, which stated that
Stephens was still in New York, he suddenly
decamped for parts unkLown. This is most start-
ling information for the supporters and friends of
Mr. Stephens, and his presence in New York will,
no doubt, account for the fact that no insurrection
has broken out iu Ireland under the auspices of the
Head Centre. It has been ascertained that
Stephens has been paying the modest sum of $45 a
week for his board and lodging. This news will,
no doubt, create a terrible revulsion against
Stephens. During the time of Stephens's conceal-
ment in Thirteenth-street he had pickets thrown
out, continually watching, to prevent intruders ; but
even this precaution did not save the Head Centre
from detection. It will evidently be impossible for
Stephens to keep his engagement with the British
Government in Ireland this year."
THE " NEW YORK HERALD" ON THE ATLANTIC
YACHT RACE.—The New York Herald, of Decem-
ber 31, has the following reflections upon the recent
yacht race :—" The great change in British public
opinion of this country and its people which this
and other conflicts of oar great war have brought
about, we see in the honours showered upon these
yachtmen. We have conquered even the doubts
and delusions of England, and John Bull wel-
comes Brother Jonathan as a chip of the old
block. The good Queen, always our friend,
has at last won her Cabinet to our side ; and
so those Alabama claims, Mr. Seward tells us, need
not occasion the least alarm. And this is well for
Englar.d, for just now conies in the most important
hint suggested by this yacht race, to wit—What
will become of the commerce of England in the

event of a rupture with this country, unless we have
in advance a settlement of this Alabama question on
the American doctrine of maritime belligerent rights ?
We believe that, as we can build and man sailing
vessels so as to make the time of steamships, a war
of twelve months with the United States would be
more disastrous to England from such craft than

the work of the Alabama a hundred times over.
Such are among the practical teachings of this yacht
race. But as England has turned from the offences
of our late war to the courtesies and hospitalities of
peace and friendship, let us hope that the influence
of this yacht race will largely operate in behalf of
the general interests of peace, and in widening the
moral power of the great Republic, its people, and
its institutions."
Superheated steam, for the purpose of navigation
and motive power, was first patented by Treve-
thick, in 1833.
Navigation on Lake Erie was closed on the 30th
December.

COMMERCIAL INTELLIGENCE.

NEW YORK, Jan. 1, 1867.

The Bank Statement for the week is not favourable
showing a decrease in deposits and legal tenders. The
value of money has risen, and seven per cent. on call is
readily paid. Many hope, now that the new year has
opened, that the existing stagnation in trade will be suc-
ceeded by a rival, but others have grave doubts on
this subject. We are, in truth, realising now the
effects of the war on the commerce and monetary
affairs of the country. The causes cannot easily
bo removed, and will in all probability not only continue
to exist, but to increase. The effects of inflation was to
maintain a false prosperity, the opposite effect of contrac-
tion will be the reverse, while the Government were issu-
ing two millions of dollars a day, and spending more still,
everything had an upward tendency. Now that Govern-
ment are calling in these issues, and obtaining the power
of doing so by heavy taxes on the people, the whole system
is reversed. For this reason I agree in thinking the times
before us will not be so pleasant as some suppose.

Gold opened at 134, and closed at 1331. The Henry
Chauncey brings from Aspinwall 8630,117.
Government stocks are all higher, with an increase
of business. The whole share market is higher, but
at the closo there was an indisposition to pay the
extreme rates. Erie is an exception to the advance
and has b"en steadily pressed to sell all day. Adams
Express advanced 4 per cent., and Hudson River 10
per cent. Pacific Mail was in fresh demand, and sold
at 170. Mariposa Preferred sold at 321, and was in de-
mand. At the close the following prices were paid : —Now
York Central, 1111 to 111 f ; Erie, 671 to 671; Hudson
River, 135 to 110; Reading, 1051 to 1051; Michi-
gan Central, 108; Michigan Southern, 831 to
84 ; Illinois Central, 1204 to 121; Cleveland and Pitts-
burg, 94 to 901; Cleveland and Toledo, 125 ; Rock
Island, 104 to 1041; North-Western, 46 to 46} ; North-
Western Preferred, 811 to 814; Fort Wayne, 105 to 10,5 i;
Mariposa, 321.
The following shows the condition of the New York
City Banks:—