The Sun.
London, England, 1858-08-30 00:00:00

A despatch of the 17th from Halifax says :

" As soon as it was intimated yesterday afternoon that the
Queen's message to the President had passed through Nova
Scotia, royal salutes were fired from the citadel and flag
ships. Flags were displayed in all parts of the city. To-day
the greatest enthusiasm prevailed, and every available piece
of bunting is flying in all the provincial towns. The an-
nouncement of the Queen's message and President's reply
were received with bursts of intense joy. Public meetings
have been held, and preparations are making to celebrate
the event."
The Governor-General of Canada transmitted the
following letter to the Queen :

" The Hon. the Secretary of State for the Colonies, London,
England.

" The Governor-General of British North America pre-
sents his humble duty to the Queen, and respectfully con-
gratulates her Majesty on the completion of the telegraphic
communication between Great Britain and these colonies.
" EDMUND HEAD."

Shortly ater midnight of the New York celebra-
tion the cupola of the City Hall was discovered to be
on fire, and the flames spread so rapidly that it was
soon all in a blaze. The firemen were promptly on
the spot, but no efforts on their part could stop the
fury of the conflagration. The cupola and upper
part of the building were completely destroyed, and
the pictures in the governor's room, as well as other
property in the hall, no doubt are much injured, if
not totally destroyed. The fire Si ginated from the
pyrotechnic display, and its progress is doubtless due
to carelessness on the part of the person who had the
building in charge.

The political news by this arrival is comprised in
the following letter from Washington, dated the
16th :

" The President appeared at the Wihite House before nine
o'clock this morning, and proceeded to look into the accu-
mulated business requiring his attention and that of the
Cabinet. He seems as fresh and vigorous as a man of 40
years, and expresses himself as much pleased with the com-
plexion of political affairs, as indicated by the results of the
late elections in Missouri, and North Carolina. He regards
them in the light of a general approval of his course by the
people of those States, and the effect is unquestionably to
strengthen his Administration. There will be a Cabinet
meeting to-morrow. Gen. Cass was at the State depart-
ment to-day, attending to his official duties. He had the
Cass-Herran treaty, as modified, under consideration, and
it is expected that it will be discussed before the Cabinet
to-morrow. The general intends leaving the city for a
short sojourn at Stonington, Conn., as soon as this matter
is definitely settled. It is becoming more evident daily
that a vigorous and energetic policy must be pursued by
our Government toward all the Central and South American
republics. The instability of those Governments, and the
revolutionary character of the people, render it nearly
useless to treat with them, unless we can have some better
guarantee for the performance of their portion of the com-
pacts than their short-lived Governments afford. We have
had treaty after treaty with Mexico, Central America, and
Granada, which are of little or no use, because after the
parties with whom they negotiated have been overthrown
they have been repudiated by their successors, who,
in their turn, would offer negotiations upon a new
basis. Hence we are always treating, but never know
exactly what we may depend upon. In this view of the
case it has been suggested that our Government may find
it necessary to invite negotiations with all the South and
Central American countries upon commercial and postal
matters. The object will be to eucourage a reciprocal
trade which shall be trammelled with as few restrictions as
possible, and in order to give protection and facility to such
trade and to foster the best feelings and most intimate rela-
tions between the people, the treaties will provide for the
regular transmission of the mails in armed steamers, which
will be at the same time fit for the transportation of pas-
sengers, mails and freight, and for the protection of com-
merce or the enforcement of treaties. We shall thus establish
a commercial protectorate over ear sister republics on this con-
tinent. Gen. Jerez informally called at the State Department
this morning. but did not communicate the object of his
mission. He is undoutedly charged with a special mission,
perhaps connected with the transit route in some way. It
is hardly probable that our Government will meddle with
these opposing interests for the benefit of a few stockjobbers
in Wall-street. Our trade with all Central America is lees
than half a million of dollars, and the route is not absolutely
necessary to the transaction of business; and yet a handful
of people and two or °three competing transportation lines
which had same stock to be gambled in, have succeeded
in distracting the attention of two or three Adminis-
trations, and nearly precipitated us into a war, while
far more important interests have suffered from
want of the fostering care of Government. There is
Brazil, a powerful nation, with whom we have a commerce
of twenty-seven millions, and no steam facilities. We
trade nine millions with Mexico, sixty with Cuba, seven
and a half with Porto Rico, five with Hayti, four and a half
with New Granada, five with Venezuela, one and a quarter
with Uruguay, four with the Argentine republic, six and a
half with Chili, and fifteen more with the West Indies, and
yet with all these countries our facilities are very imperfect.

Every guano island that is found is immediately repre-
sented here, demanding, through two or tbree different
claimants, the protection of Government. Anything
which offers a basis on which to form a stock company
is at once incorporated, and Congress besieged for
i,sistanee. Now, while the administration is fully deter-
to protect all the interests of our citizens both at
twine and abroad, which are honest and legitimate, it is also
quite too well aware of its functions to allow itself to be
made the tool of shrewd speculators in fancy stocks or
bogus-paper mail routes. It will waste no more time. in
such matters. There is some talk of the erection of a
new military department on the Pacific, to be composed
of the territories of Oregon and Washington, leaving
the State of California in a department by itself.
We have plenty of officers for the purpose, and it is
thought such a distribution of them will render their
services much more efficient. We have now in the Walla-
Walla country about one thousand men, including garrisons,
against whom there are about three thousan e warriors.
An agent has been despatched from Walla-Walla northward
to Colville, to treat with the hostile tribes and friendly ones,
and report to the superintendent the true state of affairs.
By the time Gen. Harney arrives there full information of
the disposition of all the tribes may be expected to have
been obtained. A vigorous campaign will then be com-
menced and carried on against the hostile tribes till they
yield or are driven from the country."

Another Washington despatch of the 17th says:—

" The Indian Bureau has received a communication from
Brigham Young, in which he says he will give way to Dr.
Forney, and close his office as Superintendent of Indian
Affairs for Utah. He asks for an allowance of 51,300, to
reimburse him for food and presents to the Indians, in order
to conciliate and keep them in check until the peaceful re-
sults following the advance of the troops could be explained
to them. It is suspected by the Commissioner of Indian
Affairs that Brigham conciliated the Indians for his own
purposes, but finding he could not use them, wants the
Government to pay the expenses."

COMMERCIAL INTELLIGENCE.
NEW YORK, AUG. 17.
_ _ _

Exchange on Europe has been dull throughout the day,
and change in prices can be fairly quoted. At the second
board the business done was very light, and no particular
change in prices was noticed. Reading was the most active
stock. It seems that the management has contrived to
attract so much opposition from leading patrons of the road
that instead of extricating itself from its present desperate
financial condition, the prospect is that it must plunge
deeper and deeper into embarrassment. The following are
Groesbeck and Hoyt's closing prices :—Central, 761 ; Erie,
164; Hudson, 271; Michigan Central, 57; Panama, 1138;
Reading, 47 ; Galena, 821 ; Toledo, 331 ; Rock Island, 73.
The market closed dull and heavy. Mr. Cisco received from
Washington this morning the first batch (half a million) of
the government stock. As fast as the bonds are made ready
the department will despatch them to the branch office here.
The following was the specie export for the week :

Steamer Northern Light, Southampton, gold
bars and for. gold (not reported last week) $52,100 00
Steamer Jura, Liverpool, Cal. mint bars 150,706 77
,f Yl Am. gold
400 00
Bark Restless, Santa Martha, 51. pieces
1,600 00
Brig Billow, Ponce, doubloons 16,275 00
1,7) silver 3,000 00
Brig Abby Thaxter, Ponce, Spanish gold 5,000 00
Steamer Vigo, Liverpool, U. S. mint bars 67,433 16
» Eog. sovereigns 9,801 00
Steamer Vanderbilt, Havre, Amer. gold 134,412 77

Total for the week
Previously reported

Total 1858
Against this we received from California $1,082,000 in
gold dust. A sum of $7,051,255 has been paid in gold into
the Sub-Treasury on account of the New York share of the
new ten million loan ; so that, altogether, the movement of
the week has been against the Bank reserve to an extent of
something like $6,400,000. It may be supposed that
they now hold £28,700,000, as the Sub-Treasury holds
£12,886,816, though owing to the system of averages adopted
at the Clearing-house, the statement on Monday IR ay show
very different apparent results from this. The bank averages
loath up on Monday compare as follows with those which
were made up last week:—
Week ending Loans. Specie. Circulation. Deposits.
Aug. 9 $120,892,859 35,145,844 7,784,515 107,454,715
Aug. 16 123,374,459 31,150,472 7,588,939 105,034,70

Decrease.

3,995,372 195,576 2,419,946

Increase ..$2,481,600

The loss of specie shown here will strike every one as sin-
gularly small, in view of the payment of over seven millions
into the Sub-Treasury. But it must be remembered that
these payments were made in daily parcels, and that the
whole of them only counted one day in the averages. It is
doubtful whether the banks commence business this week
with ever 28 millions in specie in their vaults. The loan
column shows an increase of two and a half millions. This
arises, of course, from advances made on those new Govern-
ment securities to holders who could not or did not choose
to carry them. As they pay five per cent. interest, and the
banks will lend at four, a small profit can be made by buy-
ing and borrowing on them. Altogether, the statement,
though unexpected In some particulars, presents no features
for particular comment. Next week we shall probably see,
a different state of things.
The following are the footings of the Boston Bank state-
ment for the week prior to the 17th :—Capitta stock,
$32,341,100 ; loans and discounts, $55,971,N0 ; specie,
58,706,000; amount due from other banks, $5,675,400;
amount due to other bank 5,58,132,400 ; deposits, 20,804,900;
circulation, $6,026,800.

COTTON.—The market on the strength of the Arabia's.
news was about lc. better, with sales of about 1,500 bales.
Messrs. F. L. and D. W. Talcott's circular for the Persia,
to sail to-morrow from this port, contains the following
interesting general statements regarding the growing crop,
Sze. :—The plant is everywhere represented as very luxu-
riant. Its present promise favours a full crop, less the loss
by overflows, which will not be under 340,000 bales. The
probable extent of the crop, therefore, whether a fair ave-
rage or a moderate yield, is a weather question, which will
be decided within the ensuing 90 days. The 15th of August
to Ist October is a very critical period for the cotton plant.
FREIGHTS.—To Liverpool about 160 bales of cotton were
engaged at ls. Bd.; 500 bbls. rosin at ls. 5d., and 150 tons
fustic at 10s. To London about 400 tons oilcake, 100 ditto
bone black, and 40 hhds. tobacco, all at p. t. There WAS
nothing new to Glasgow or to the Continent.