The Sun.
London, England, 1866-09-15 00:00:00

MISCELLANEOUS AMERICAN NEWS.

The President and suite are warmly received by
the towns, on their way to Chicago. At Auburn,
the home of Secretary Seward, the reception was
most flattering. The people of Schenectady, Syra-
cuse, Utica, and many others, cordially welcomed
the party, and were in turn briefly addressed by
his Excellency, who declared his intention to work
for a complete restoration of the Union. Major-
Generals Rousseau, Steadman, and Custer, joined
the party at Albany, where the welcome was of a
most imposing character. A delegation escorted the
President to the state capitol, where he was received
by Governor Fenton, who cautiously avoided any
direct approval of Mr. Johnson's policy, from fear
of giving offence to his friends. The Presi-
dent delivered a lengthy speech from the balcony of
the Delevan Hotel, which elicited loud applause.
He first asked what had been his offence which
caused the Radical press to assail him with such
indecent violence, and answered his question :
" Slander and calumny, the foul whelps of Sin, and
a mercenary and subsidised press had tried to
poison the public mind, but his only crime had
been that he had stood by the constitution
and the laws. He challenged the whole train
of traducers, in power or out of power, to point
to a single principle in the platform upon which he
had been elected that he had departed from. Did
the North meanly wish to degrade and disgrace the
South after having conquered her ? Was the artery
to be re-opened—the healing wound started afresh ?
He had too much confidence in the people to be-
lieve these things. To them he was willing to trust
the welfare of the country and the vindication of his
ourse. The bayonet and bullet had done their duty,
and the ballot-box would do its duty also." The re-
ception in New York on Wednesday, 29th August,
was most enthusiastic. The Presidential party
reached the city at noon, and was escorted up the
Broadway to the City Hall by the city officials and a
detail of military. After a formal reception at the
Hall the President proceeded up Broadway and
Fourteenth-street to Delmonico's in a carriage drawn
by six horses. Five brigades of military and nume-
rous civic organisations formed the escort. Secre-
taries Seward and Willis and Major Hoffman rode
with the President. Other carriages contained General
Grant, Admiral Farragut, and the other distin-
guished visitors. The street was densely crowded
with citizens, and every window and house-top oc-
cupied, and the cheering and hat and handkerchief
waving indicated an enthusiasm seldom if ever be-
fore created in the country.

From Russia we hear of lavish honours conferred
on the American visitors. On the 22d August the
Emperor and Empress gave a dinner to the deputa-
tion led by Mr. Clay, United States Minister at the
Court of St. Petersburgh. All the members of the
Imperial family then at Peterhoff were assembled to
welcome the guests, and 100 persons sat down to
the banquet. His Majesty himself proposed the
toast—" The Prosperity of the United States of
America, and the Consolidation of Friendly Rela-
tions between the Two Countries." A ball took
place in the evening. Next day the American party,
consisting of 32 persons, started for Moscow, which
they reached the day following. They travelled in
special carriages with almost Royal state, and found
elegant luncheons and dinners provided along the
line, and were waited on by deputations from the
principal towns. M. Kokoreff placed his noble
mansion at their disposal, and Prince S. Galitzin
invited them to spend a day at his beautiful park of
Kouzminki, famous for generations for its splendid
hospitality. Among the incidents recorded on this
occasion was the presentation of the American flag
to a number of the Prince's peasants. The scene
took place in the drawing-room in the evening, and
so appropriate were Mr. Fox's words in presenting
the flag that the old men among the peasants were
affected even to tears. On the 29th the deputation
and their companions reached Nijni Novgorod. M.
fJourayleff received them into his house, and they
were, by the last accounts, enjoying the wonders of
the fair, which is still in full activity. Their stay
in Russia is drawing to a close, but as yet no date
is assigned for their departure. Government is said
to defray all expenses connected with their visit, of
course with the exception of entertainments given
by private individuals. Crowds still flock to see the
Miautonomah. Excursion boats start frequently
from the English quay, the most crowded being that
at 11 a.m. Military bands entertain the passengers
with the enlivening strains of " Yankee Doodle,"
varied by " Hail, Columbia," and Strauss's last
waltz ; the stars and stripes float gaily at the
main, and the sight-seers, in high good humour
at the prospect of something new, talk of no-
thing but the, Americans and the wonders of the
ironclad ship.
It is expected that several members of the Ca-
nadian Government, including the Attorney-Gene-
ral and the Postmaster-General, will meet President
Johnson at Niagara. The most important delibe-
ration yet held by the Fenlans was to take place at
Troy, on the 4th September, where the questions
were to be finally settled whether another invasion
of Canada should be made, and what caused the
failure of the Fort Eric expedition? On this sub-
ject the New York _Herald of the Ist September
says :—" The Fenian Senate has been in session for
two days in this city. Their action is merely pre-
liminary to that of the Congress which meets in
Troy on the 4th. General 0 Neill and other pro-
minent Fenians have already appeared before the
Senate, and from what can be learned it appears that
a very poor opinion is entertained of the fighting
qualities of the Canadian Volunteers. On the 4th
the Fenian Congress will assemble in the city of
Troy, when it will be definitively decided whether an-
other movement is to be made against the Canadian
frontier and at what time."

• "An English Politician" writes to the Star as
follows Sir,—l see that the American news by
Reuter's Express, per City of Paris, contains the
following sentence with regard to the Radical Con-
vention to be assembled at Pittsburg Most of
the Radical leaders throughout the country are ex-
pected to be present, and the proceedings are ex-
pected to be imporstant as well as amusing, inasmuch
as they will probably define to some extent the
course to be adopted by the Radict tw, sir,actioit in view
it is of the approaching elections.'
little too bad that we cannot get a bit of news with-
out being obliged to swallow the poison of the pro_
slavery party also. An English news agency ought
to know better than to express contempt of that
party in the United States which fought out the
great war and won it, and which will probably fight
out victoriously the same principles at the ballot-
box.—l am, &c."
The Springfield Weekly Republican informs us
that Mr. J. S. Wright, of Chicago, has issued at Boston a
curious tract, entitled "Conflicting Teachings of South
Carolina and Massachusetts," which is preliminary to a
series of volumes he proposes to publish. He considers
the theories of Massachusetts and South Carolina both
wrong on the matters of State sovereignty and national
Union, and has a theory of his own which he thinks is
founded on " the laws of nature and nature's God," and
will reconcile all differences and restore the Union on a
Permanent basis. What this theory is we do not learn
from the pamphlet, but presume it will bo announced in
r• Wright's first volume, to be entitled "Force of Reason,
Massachusetts
of Force." For this volume ho asks tho sons of
Massachusetts to subscribe for 5,000 copies at $4 each,
suggestingto2s copies
that many of the wealthy should take from four
for gratuitous distribution. Mr. Wright ex-
pects to be at least ton or fifteen years in completing the
o
whole work, so there is no need of haste in br.hin his
theory or determining its merits. This wasoello Of the
considerations that led us to decline to
print in The Repub-
lican the essays which Mr. Wright has embodied in his
pamphlet.

COMMERCIAL INiELL,I
Sept,
vrw
yoiGENCE.
1, 1866.
prices
a:i our
You may have noticed the fall in the
which in the face of an overflowing ahund-c in
may have puzzlol you. The truth is, that thei,
Bulls"
money
combined with the "Bears" to bring about this
result,
with the view of buying in at the reduced figure.,-ri,libt€:
movement will most probably only result in loss to them-
selves as the market is too strong, and such schemes can-
not have but a momentary success, the reaction pro_
bably tending to send values higher than ever. The
full effect of the largo disbursements of the sub-treasury
has not yet been felt. .Large sums are lying idle in Wall-
street. Over $80,000,000 became due last month from the
Treasury, and payment is being made at every sub-trea-
sury. Loans aro made freely by the banks to stock houses
at 4 per cent. ; exceptionally at 3 per cent. up to 5. In
spite of the activity of trade the fiunlY of commercild

paper is limited, and the rate may be quoted at 5 to 6
per cent.
The news of this further improvement in the English
market tended slightly to depress the gold market, and to
strengthen Illinois Central and Erie. Gold opened at 1471
and advanced to 148, after which it relapsed to 1471. At
four o'clock it was steady at 1471 but at half-past four it
had declined under the effect of the London quota-
tions to 1471 to 1. Cash gold was somewhat scarcer than
yesterday, and loans wore made at to per cent. per diem
in favour of the lender. The Asia has arrived at Boston
with $143,000 in specie, but the recent shipments of gold
from England to this country have already been fully dis-
counted in this market. The Arizona, from Aspinwall,
also brought $1,336,058 in gold and silver bars.

In foreign exchange there is still great depression, and
among the brokers at the close of business the rates were
as under:—Bankers' bills on England at sixty days, 1051
to 1061 ; three days, 106-i to 1071. Commercial, 1041 to 105,
Contiuenal rates wero unsettled.

At the open board at three o'clock Erie sold at 731, New
York Central 102;, Cleveland and Toledo 1151-, Fort
Wayne 1041, Reading 1121 to 1, Michigan Southern 811,
Illinois Central 1231, Cleveland and Pittsburg 814, Rock
Island 1081 to 1, North-western 34—preferred 671, Quick-
silver 49-1, Spruce hill Coal 41. The market finally closed
with a steady tone, the quotations at a quarter past five
being as under :—New York Central 1021 to 1, Erie 72/
to 73, Reading 113 to 1, Michigan Southern 84 to 1, Cleve-
land and Pittsburg 864 to I, Rock Island 1081 to 4, North-
western 331 to I—preferred 671 to I, Fort Wayne 104 to 4
Quicksilver 494 to 50.

(From L. P. Morton and Co's. Circular.)

NEW YORK, Sept. 1.
Par steamer "City of Paris."—The Money Market con-
tinues to exhibit extreme ease. The redemption by the
Treasury, of a large amount of the Temporary Loan,
alluded to in our last advices, has added to the unusual
abundance of money, and large sums are offered at 4 per
cent. on demand, while discounts are easy at 5 to u per
cent.

Tho plethora of idle funds has induced an active specu-
lation in Government Securities, under which prices have
generally advanced, the rise having been also stimulated
by an active foreign demand, and an advance iu quotations
at London. Five-Twenties of 1882 have touched 1131,
but yesterday fell off to 112, closing at 1121- to f. There
has been some inquiry for 5-20's of 1864, for export but
apparently principally on private account ; the bonds ad-
vanced on Wednesday to 1131- upon a rumour that they
had been admitted to the London Exchange, but subse-
quently declined to 109, and close at 110.
Railroad Stocks have been comparatively weak and dull,
and for the moment the tendency of the Market appears to
favour lower prices. Erie has fluctuated between 721 and
741 and closes at 73. Illinois Central Shares have been
firm in sympathy with the advance in the stock at London,
and closes at 1234.
State Stocks have been rathor more active and firmer,
in sympathy with tho rise in Government securities. Ten-
nessee 6's, 1890, close at 921 to 941- ; North Carolina 6's,
841; Virginia 6's, 70 to 71; and Missouri 6's, 78.
The speculative movement in Gold has abated, causing
a decline in the price to 1461-, and a reduction in the rate
of interest on loans to 1-16 to 1- por cent. per dim.
Subsequently the price reacted and closes at 1471.

FOREIGN QUOTATIONS.
August 31. August 24.
London commercial lo3} 104} 105} 1061
Do. bankers' long lO5 106 IL6 107
Do. bankers' short sight lo6i 107 107 1071
Paris sixty days 537} 5331, 535 530
Do. short sight 533k 53212 530 5272
Antwerp 540 5371 5361 5311
Hamburg 351 36- 35; 36
4 -

Amsterd;n 394 40 401 404
Frankfurt
Bremen 77i 77? 774 78
Berlin 7of 701

71 71-1

COTTON QUOTATIONS. 4
Uplands. Mobile. N. O.& Ts.
Good Ordinary
Low Middling 3Ol to 31i 31 to 311 32 to 321
Middling
Good Middling