The Sun.
London, England, 1868-06-23 00:00:00

THE SUN, LONDON, TUESDAY EVENING, JUNE 23, 1868.

-POPE HONOMUS AND PAPAL I.NIALLI-

next week, when we shall bring this already
protracted review to a close. What opinions
Mr. Renouf may express in favour of the now
exploded Gallican theory can be of little in-
terest, and, as compared with the theory started
by F. Ryder, of but little practical importance
to Catholics. The defence which the genius
of Bossuet failed to make good is not likely,
in Mr. Renouf's hands, to be more successful.
We feel indeed but little interest in such a dis-
cussion. The only point which we cared to refer
to was the alleged heresy of Pope Honorius.
Until Mr. Renouf is able to substantiate his
accusation that Pope Honorius thought heresy
ex cathedra, his assertion that the Ultramon-
tane system of theology is demonstrably " un-
tenable," will have no weight whatsoever.

BILI 7 Y.

(Front the Westminster Gazette.)
Before proceeding briefly to notice Mr.
Renouf's jubilant declamation on the supposed
" subversion of the theory of Papal infalli-
bility," by the alleged condemnation for heresy
of a Pope by "three (Ecumenical Councils and
a long series of Roman Pontiffs," and his still
more rash and offensive warning to the Catho-
lic Church on the folly of " identifying Chris-
tianity with a system of theology (Ultramon-
tanism) which is demonstratively untenable,"
it will perhaps be better to examine a few
of the collateral evidences which the opponents

of Pope Honorius bring forward in support
of the charge against his orthodoxy. The re-
sults which we have already arrived at in the
course of this review of F. Schneemann's

work may be thus recapitulated :—.lst. That
it is conceded that the letters of Pope Hono-
rius to the Patriarch Sergius are susceptible

of a Monothelite as well— as of an orthodox

interpretation. 2nd. That contemporary tes-
timony, as well as modern criticism, is, with
a few notable exceptions, in favour of the
orthodox interpretation. 3rd. That the Sixth
CEcumenical Council, in as far as its decrees

were ratified by the Pope, condemned Hono-
rius, not for teaching heresy, but for betray-
ing the Church by negligence ; and 4th. That
Pope Agatho, Honorius's immediate successor,
declared in a document, solemnly accepted by
the Sixth Council, that the Popes have never
erred from the Faith, and that, since the com-
mencement of the Monothelite disputes, the

Popes had never omitted to warn the Patriarchs
of Constantinople to abstain, at least by silence,
from heresy.
It is clear, if for no other reason, that this
declaration of Pope Agatho has special refer-
ence to Honorius, inasmuch as no other Pope

but he would have contented himself in only

imposing silence upon such a dangerous heresy-.
In this Sixth ecumenical Council a twofold

judgment, says F. Schneemann, was pro.
nounced by the Church, united with its Head.
On the one hand, Honorius was pronounced
free from heresy ; on the other, he was con-
demned for promoting, by his conduct, the
growth of heresy. In this brief recapitulation
of the results of our investigation into the
alleged condemnation of Honorius, we desire
again to call to mind the important fact, which
Mr. Renouf and the opponents of Pope Hono-
rius conveniently forget—namely, that the de-
crees of a council are only valid so far as they
have been confirmed by the Pope. The Sixth
Council acknowledged as much by seeking
Papal confirmation for its decrees. But the
condemnation which the council had pro-
nounced on Pope Honorius was explained and
confirmed by Pope Leo, as we have already said
in our first notice, with the express limitation
conveyed in the following declaration addressed
to the Emperor :—" We pronounce anathema
on the inventors of the new error—that is—on
Theodore of Pharan, Cyrus of Alexandria,
Sergius, Pyrrhus, Paul, Peter, and, likewise, on
Honorius, who did not put his hand to the
work of purifying the Apostolic Church by the
teaching of Apostolic tradition, but, by profane
abandonment, suffered the pure faith to be de-
filed." This limitation of Pope Leo's judgment
to a condemnation of Pope Honorius, not for
heresy, but for a negligent betrayal of the
faith, clearly shows that there is no contradic-
tion, as Dr. Dollinger pretends, in the judgment
of Pope Leo and the declaration of Pope Aga-
the, that the Popes had never erred in faith. F.
Schneemann remarks, in reference to this
pretence of Dr. Dellinger's, that men should
not be so ready, on such superficial grounds, to
find contradictions in the words of councils
and of Popes. If such, then, as we have seen,
was the judgment on Honorius, pronounced
by the Pope and the Sixth Council, no refer-
ence, in general terms, to this condemnation,
made by after councils and ratified by subse-
quent Popes, alters in the slightest the charac-
ter of the original condemnation. Therefore,
when the impugners of the orthodoxy of Pope
Honorius bring forward, as Dr. Dollinger does,
and, of course, his disciple, Mr. Renouf, that
not only did the Eighth Council confirm the
anathema on Honorius, but that Pope Adrian
I f. spoke in his letter, appended to the acts of
the Eighth Synod, of Honorius's being accused
and condemned on account of heresy, such
a reference by a Pope or council to a former
judgment, without further investigation into
the question, leaves the earlier judgment uu-
affected and unaltered. What the judgment
was before, so it remains after the reference.
Hence the assertion of Mr. Renouf, that coun-
cils subsequent to the Sixth Synod, and a
long series of Pontiffs, condemned Pope Hono-
rius for heresy, falls to the ground, since, as
we have shown, the judgment of the Sixth
Council, so far as it was ratified by the Pope,
did not condemn Honorius for heresy, but
for something else, and subsequent councils
and Popes in referring to the Sixth Council
did no more. To accumulate, as Hefele does,
acts of councils and of Popes condemnatory
of Honorius, is not, then, as we have seen,
to alter, by a hair's breadth, the judgment pro-
nounced in the Sixth Synod by Pope and coun-
cil. Neither can any meaning other than that
expressed in his confirmation of the Sixth
Synod, be imputed to Pope Leo from his letters
to in which he speaks of Honorius. On
the Spain
contrary, they explain still more clearly
the nature of Honcrius's offence. In his first
letter to the Bishops of Spain, Leo. 11. points
out exactly in what his treachery and defile-
ment of the Faith consisted. After referring
to the anathema on the Monothelites, he adds,
" together with Honorius, who did not, as be-
came the apostolic authority, extinguish the
incipient flame of heresy, but fanned it by his
negligence." His betrayal, therefore, consisted
in his negligence ' • and this betrayal, because
it dishonoured the dignity of the Apostolic
authority, was the defilement he alluded to of
the Roman Church.
In his letter to King Erwig, referring to the
inventors of the Monothelite heresy condemned
by the Council, Pope Leo says, "and together
with them, was condemned the Roman Honorius
who suffered the defilement of the immaculate
rule of apostolic tradition which he had re-
ceived from his predecessors." In the profes-
sion of faith found in the " Diarium RR.
Pontificum," to which Dr. Dollinger also re-
fers, it is not said as Dr. Dollinger asserts, and
Mr. Renouf repeats that " Honorius assented
to the false doctrines of the heretics," but
drawing clearly the distinction between the
auctores and fautores of heresy, and designating
by name the other condemned Patriarchs as
auctores, of Honorius it is simply said : Qui
pravis eorum assertionibus fonientum impendit.
Nowhere, then, have the Popes declared that
the guilt of Honorius was in having himself
taught the Monothelite heresy, and in the con-
firmation and publication of the Synodal de-
crees they expressly limit the anathema pro-
nounced on Honorius so as to exclude him from
a condemnation for heresy. And the Popes
are, as a learned German writer remarks, at
the very least the authentic and ultimate inter-
preters of the Synodal decrees; but it is beyond
question that the Popes only confirmed the de-
crees alluded to in this dispute in the sense and
with the interpretation they put upon them.
" No one, therefore," says a learned writer in
the Katholifr, whom F. Schneemann refers to,
" is compelled by Church authority to consider
Honorius as a heretic, and it is moreover his-
torically incapable of proof at the very least, if
not altogether false, that Honorius, either ex-
cathedra or otherwise, formally gave expres-
sion to a dogmatic error." Such, then, is the
result we have arrived at ; but this result is
nothing new, but the common belief held in
the Catholic Church. " There are now but
few," says a writer of weight—" and they
moreover of suspicious tendencies or of no
great authority—who condemn Honorius as a
heretic." There is nothing in the tone or
in the substance of Mr. Renouf's pamphlet,
we regret to say, which will remove him from
either of the above categories.
We must defer what w,3 have to say on
the general question of Papal infallibility until

whence he could draw. We are not saying
that such should be his action, so much as this

—that we cannot possibly figure to ourselves
the frame of mind a man must be in to do
otherwise. He either believes, or he does not
believe. If he believe, then he must—he can-
not help, but he must—act as a believer. If
a man believes he is walking into a furnace,
he cannot but turn away. If he believes not,
then our argument is not addressed to him.
Again, if he believe, does he not, or should he
not, go a step further—must he not do ?
Those who know, and have eyes clearly to
see the power of principle, cannot those same
eyes open upon the duty of action, of doing
one's share ? If a man can see but partially,
and moves not, should not that partial vision
give him light enough to try and see more ?
If a man, in fine, feel himself out of gear
with what he knows in the secret folds of his
heart is the Church of God and the anmury
in which principles of true, lasting, and over-
whelming force alone are stored—should he not
get up, rouse himself, look at his position, and
clean self out to make room for the norma
of a stronger and nobler life than that of petty
conceit, minute talent, and schoolmaster lore ?
We think so, for we hold that man's mind when
filied with self, and miserable human talent, is
weakness; but filled with the light and strength
of God, through the voice and guidance of
God's own spirit—becomes like that spirit—
tender, strong, masterful, and constraining.—
Westminster Gazette.

AMERICAN MARKE7 S.

(From the Wall-street Journal.)
NEW YORK, Friday Evening, Juno 5.
Money is a perfect drug, and we hear of some transac-
tions on call at 21 per cent., the general run, however,
being at 3 to 4 per cent.
Discounts aro readily obtained on first class names at
5 to 6 per cont., but that quality of paper is very scarce.
Government Stocks are very active and a large business
is doing. Sixty-twos are especially firm.
Gold shows very little variation, having opened to-day
at 139 and closed at the same figure.
American Silver is in limited request at fill to 7 cents
below the price of gold. Mexican dollars are worth 1031
to 1031- in gold.
Foreign Exchange is firm, although the business is on a

small scale.
State Stocks are in good demand, and we note very
large purchases at advancing prices. Most of the Western
Bonds aro becoming very scare,,, pirticularly those of
Illinois, Indiana, Michigan, and Ohio.
Railroad Stocks are unsettled and weak, it being sus-
pected that many holders of the clique Stocks, such as
Erie, New York Central, and Cleveland and Toledo, have
been quietly unloading.
Secretary M'Culloch has responded as follows to a letter
addressed to him by a number of bank officers in this city,
relative to the redemption of matured Compound Interest
Notes :

" Treasury Department,
" WASHINGTON, June 3, 1868.
" Your favour of the 2d inst. is received with accom-
panying petition.
" I found that I could not with fairness continue to re-
deem compound interest notes in New York without
authorizing redemptions at Philadelphia, Boston, and
other important points ; and as such general redemptions
would subject the Department to groat trouble and no
little expense, I some time since directed that all such
notes should thereafter be redeemed at the
licasury of
the United States.
lam advised by the Treasurer that parties forwarding
notes to him for redemption will be subjected to no delay
in receiving remittances for the proceeds. Any person
holding compound interest notes can send them, at his
own risk and expense, to the Treasurer of the United
States, and on the very day on which they are received,
every check on New York for the proper amount will be
forwarded in return.
" Regretting that I cannot consistently with a sense of
duty to the Government comply with the request of the
bankers of New York, I am, &c.,
"H. M‘CuLLoctr, Secretary of the Treasury."
The following is the ordinance of the Constitutional
Convention of the State of North Carolina providing for
the payment of the interest on the public debt :
" Section 1. Ba it ordained by the people of North
Carolina, in Convention assembled, and it is hereby or-
dained by the authority of the same, that the first General
Assembly that shall be convened under the provisions of
the Constitution framed by this body, be, and the same is
hereby directed to make the following provisions for the
payment of the interest upon the public debt.
Sec. 2. It shall provide for the payment in cash of the
interest falling due on and after the Ist day of January,
1869, upon that portion of the bonds of the State which
are dated prior to May 20, 1861.
" Sec. 3. It shall provide for the payment in cash of the
interest falling due on and after the first day of July, 1869,
upon that portion of the bonds of the State which are
dated on and after January 1, 1866.
"Sec. 4. It shall provide for funding all such coupons
upon the above specified classes of bonds as are now due,
or which may become duo prior to the time when the
payment of interest shall be resumed as above directed.
And for such purpose the General Assembly shall autho-
rize the issue of bonds of the State, bearing six per
cent. interest, which shall be given at par is exchange
for such coupons as are now duo or may become duo prior
to the time when such resumption of the payment of in-
terest shall take place.
" Sec. 5. This ordinance shall bo in force and take effect
from and after its passage.
"Passed March 14, 1868."
Miscellaneous Stocks are generally active, particularly
Pacific Mail and Quicksilver.
Mining Stocks, which had experienced a sudden revival,
are again drooping, Consolidated Gregory closing at $4.10.
The other stocks are also down (the business not having
been on an extensive scale), and the market is altogether
weak.
Petroleum Stocks continue to be inquired for, but all
good securities are scarce, and are not pressed for sale.
The Iron Age, June 4, says of general hardware—After
a spring season in which thoy did better than their neigh-
bours, the hardware men are now. doing bettor than any
one else, many of them now doing a fair amount of busi-
ness, though trade is generally pretty dull. A good many
orders aro coming in from such travellers as are out, and
some letter ordere aro received. There is a good deal of
complaint from manufacturers that the prices they are
able to obtain are not sufficient to allow them a living
profit, though they aro thankful for the relief afforded
them by the removal of the 5 per cent. lay.
Of iron it states :—" A fair business is doing, consider-
ing the season, in both Scotch and American irons, at firm
rates. There have been no very large sales. More has
been done in forge pig than any other kind. One hundred
packs of Russia sheet were sold at 17 cents, currency.
METALS.—We note an improved feeling in trade circles,
and though the spring business is now fully ended, a fair
trade for the autumn is anticipated. The peaceful and
legitimate workings of the recent political pressure and
excitement at Washington are considered to have again
tested the stability of the country, and have awakened re-
newed confidence in the future. But it is necessary in
fairness to remark that there exists all through the coun-
try a marked and immovable caution as to future engage-
ments. The great financial and political issues of this year
of the national struggle for the system of pacification and
reconstruction to be adopted in 1869 involves interests so
great, and measures so very opposite, as to compel trade
and manufacturers to wait as it ware the result of the
struggle now being initiated.
In metals prices are generally firm and stocks well held.
Money is easy, and on prime collateral is working at loss
than the usual interest rate. It is predicted that it will
continue abundant till the usual call for means to move the
harvested crop. In September, October, and November
the customary monetary pinch may be looked for ; but
with the realization of the good harvest now confidently
looked for throughout the land, the wholesome financial
measures promised by the Chicago Convention, and similar
honest measures that it is well known the Democracy
will embrace in July, the return of prosperous industry
and healthy commerce may be speedily looked for.

(From the Springfield Republican.)
NEW YORK, Friday Evening, June 5.
The supply of money in the market was not diminished
during the week, nor have the rates of loans advanced.
Four and five per cent. aro still the ruling terms at New
York, and many investments are placed on long time and
good security, at even lower rates. The speculative de-
mand for money has almost entirely ceased, and only so
much is sought as is needed in the daily and regular trans-
actions of business. The prospect of any favourable ahange
in the market, or of any greater demand for money, is not
good, and under the present accommodation it is not
likely that the rates of loans will rise perceptibly for some
weeks to come, unless some unforeseen emergency should
force an advance. The banks of Now York now hold a
large and steadily increasing surplus of legal tenders, and
were it not for the heavy export of specie during the week
the aggregate increase of the funds on hand would have
been nearly five millions, while the loans have increased
hardly three quarters of a million. A similar condition of
things exists everywhere, and capitalists and moneylenders
have good reason to look blue and call business dull. The
only investment for money which is at all popular is the
Government Securities, and these aro advancing so ra-
pidly in price that the premium is becoming no small por-
tion of the purchase money. As the Government will
soon pour large quantities of money on the market, there
is no probability that it will find ready investment at any-
thing like remunerative rates, nor that the demand
from south and west for the movement of the crops,
which will soon begin, will create any stringency
in the market or any lack of supply of funds. In
view of the abundance of money it is not surprising that
the Senate refused to consider Mr. Sherman's bill for
adding $20,000,000 to the national currency, and that the
chances for any further inflation of the greenback circu-
lation are growing rapidly smaller, with good prospect of
speedy and final disappearance. With more money in the
country than can be disposed of, the cry for more will not
be heard, and there would doubtless be general approval
if Secretary M'Culloch should resume his practice of re-
tiring $l,OOO 000 of greenbacks monthly, although it pro-
voke opposition from the western inflationists.
The sales of Government Securities continue to in-
crease in amount and advance in price, and with no
apparent obstacle to unlimited further progress in
either direction. The demand at the counters of the
leading New York brokers comes largely from the country
banks and other outside purchasers, while many foreign
customers are in the market, waiting to buy, but waiting
for lower prices. At the present indications they axe
likely to wait and go away empty. The Government loans
will soon be closed out, and, with the United States in the
market as a purchaser of its own bonds, the competition
and the price will exceed anything yet known. The great
abundance of money stimulates the operations of the specu-
lators in Government Securities, as they are confident that
there will be no difficulty in finding a ready sale for all the
bonds which they may possess, and at the highest figure to
which they can force the market. Five-twenties of 1867.
are selling at from 114 to 1141 ; and no cessation of the
demand, and the Government has not enough printed to
supply the needs for purchasers, and for the conversions
of seven-thirties, which have lately been pouring in at a
rate altogether unprecedented. The whole amount of this
loan now outstanding is less than $70,000,000, and it will
probably all be exchanged before the close of the month. The
fact that this floating debt will all be safely funded and per-
manently disposed of, at so early a day, removes one of the
most doubtful class of Government Securities from the
market, and enhances the price of the remaining debt,
Secretary M'Oulloch's monthly statement of the national
debt has not yet made its appearance this month, but it
will show a reduction of the indebtedness, though smaller
than that of last month's exhibit. The amount of currency in
the Treasury is said to have considerably increased, but
the heavy payments of interest have necessarily reduced
the surplus gold in the Treasury vaults. Tho whole dis-
bursements duo were over $27,000,000, and the last
claimant has not yet been paid
The price of gold has been steady, bat it has slightly ad-
vanced in consequence of the heavy demand for export,
and closed on Thursday at 139 i. The Treasury has made
no sales, and will probably reserve its future surplus for
the payment of the coin interest on debt due on July 1.
The whole export for the week ending Wednesday was
$4,211,723; making an aggregate of over thirty-seven
millions for the year, thus far, and much more than Las
been sent out of the country for the corresponding time
in any previous year. The export for the first five
months of 1867 was thirty-three millions, and that was
largely in excess of the average, which has been scarcely
one-half of this groat shipment. The payment of duties
in gold last week realized $2,305,000 to the Government,
and the disbursements of coin interest required
$1,643,000. The arrivals of specie at New York were
only $618,000, although over $1,000,000 is now on its
way thither by the last steamer from San Francisco.
The imports at Now York for May, 1868, were $25,676,113
against $35,285,742 in 1867, and the exports for the month
just closed were $14,343,860. The premium on gold is
not likely to change much during the summer months,
especially should the large export demand continue, as
that will fully relieve the market of any surplus from the
Government payments of interest.
Speculation has been rather tame at the stock board
during the week. and the little bull movement in the
Pacific mail stock met with so rttle success that it has
been given up, and the stock has suffered a relapse in con-
sequence. It, however, represents efforts of speculators
to live and command a ready sale in the market. The rail-
road shares are all advancing slowly in price, doubtless as
the result of the appreciation in governments, and the
reports of the earnings are favourable and encouraging.
Some of the older and more wary dealers predict that the
term of high rates is near its ond, and that the next
turn will be downwards. The general expectation, how-
ever, is the other way, and all parties are buying for a
rise. The Rock Island difficulty is in the courts, but a
party of its stockholders, in the face of an injunction by an
lowa judge, met at Chicago, on Wednesday, elected officers,
and will proceed to sell the shares, issued for the construc-
tion of the road to Council Bluffs, lowa, at the earliest and
best terms they can receive. They are confident that they
can procure the removal of the injunction, and that the
officers of the company will work out all right if they are
only allowed to go on without factious hindrance and im-
pertinent opposition. The great Erie war seems to have
utterly died away, and the lingering lawsuits, which come
up periodically for postponement, are the only reminders
of the sanguinary conflict. Drew and Vanderbilt have
buried the hatchet, and the Erie directors are doing what
they ought to have done long ago, retrack their road with
substantial steel rails, and make it safe for the life and pro-
party entrusted to it. The annual meeting of the New
Jersey Railroad and Transportation Company was held on
Wednesday, and a cernfortable increase of $57,131 in the net
profits of the business of 1867 over those of the previous
year reported. The total receipts were 81,863,303, and the
total expenses $1,019,153. The receipts for the first four
months of 1868 have been $533,990, against $199,551, for
the corresponding time last year. The New York and Now
Haven Railroad Company denies any intention to issue
stock dividends as has been reported, but President Bishop
says that the whole amount of the recent large increase of
stock authorised by the Connecticut Legislature will be ex-
pended in permanent improvements on the road. Steel rails
will come in for a principal share of the outlay. The ex-
press and miscellaneous shares are dull and declining, and
the transactions have been smaller than usual. A break
in the San Francisco mining companies checked the sales
considerably, and they will be ma to by the share instead
of the foot as heretofore.
The dry goods market has suffered for another week
with hope deferred, and the summer trade has been so
long delayed that it must be only limited in amount, and
only for goals that will have an immediate sale. The
New York merchants still hope for some encouragement
from the southern and western trade, but it will be light.
The trade of the year is, however, less distinctly diviled
into the summer and winter portions than it used to be
before railroads had made communication of the interior
with the metropolis frequent and easy, and the business is
now more evenly distributed, with less accumulation en
any particular month. The market for domestic cottons
has baea dull and transactions small, while the raw 'ma-

NEW YORK R kTES OF EXCHANGE,
Juno 5, 1868.

Sixty Days. Three Days.
London Bankers - 1101-1101
London, Prime Commercial lO9l-109f
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 36 —364
Frankfort, 0.3,1 . 4oi-41*
Berlin and Cologne
Antwerp 5.164-5.121
Amsterdam, Bankers
Swiss
The following for the New York City Bank Stocks:—
Merchants'
America
Butchers and Drovers 135 Broadway
City
New York
2.
Manhattan
Mechanics'
Union
Phenix lOB Nassau lO5
Tradesmen's
Gallatin National
Merchants' Exchange 118 Continental lO3
Seventh Ward
State of New York ... 1161 Commonwealth
Commerce
Ocean
American Exchange... 1191 Fourth National .. 1031;
Bank of the Republic... 120- Ninth National
Bank of North America 1101 Park 153
Eleventh Ward ........ 105 Leather Manufacturers' 170
Mercantile
Fulton 153 Tenth National
First National 205 East River
New York County...... 140 Pacific l6O
Marine l4l Chatham 149
Grocers'

The following were the closing quotations. for the
various Public Funds of the United States in New York:—
Sixes, 1868, registered
Sixes, 1868, coupon
Sixes, 1881, coupon ll6l to 1164
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon - to 1101
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon
Ten-forties, coupon lO6 to 1061.
Seven-thirties, 2d series
Seven-thirties, 3d series
Express Stocks aro quoted as follows :
Adams ... ... ... ... ... ... 571 to 58
American ... ... ... ... ... ... 53 to 531
United States ... ... ... ... ... 551 to 56
Wells, Fargo, and Co. ... ... ... ... 25 to 261
Merchants' Union, 35 per cent.... ••• ... 28 to 281
The following were the closing quotations this evening
for the Railroad and Miscellaneous Stocks :
N. Y. Central 132;
Erie
Hudson
- 2
R.,ading
Mich. South. & N. I.
Illinois Central
Cleveland & Pittsbrg B7
North-West
North-West Preferred 811
Canton 5Ol
1 40c1c. Wand • lOll

Cleveland and Toledo 107
Fort Wayne
Pacific Mail 9G
Atlantic Mail
Quicksilver
W. U. Telegraph
Mariposa. Preferred
Ohio and Mississippi 3o'
Boston Water Power l9
Cumberland

-.--- 5...--••

terial does not show much improvement. Prints and (From Messrs. Satterthwaite's Circular.)
printing cloths are slightly better, and for printed lawns London, Juno 17.
there has been a good demand, the season for that kind of American Securities have formed no exception to the
goods being now at its height. Woollens have a better inactivity prevalent in the London Stock Exchange dur-
prospect, as the accumulated stocks of three or four years ing the past week. United States Bonds exhibit no fluctua-
is pretty well cleared out, and the new stock and the new tions of moment, and the quotations of the various de-
styles are coming into demand. Flour and provisions scriptions currently dealt in !are almost identical with
have been dull and declining, while the cattle markets of those recorded in our last, 5-20 Bonds of 1862 being 74
Cambridge and Brighton, being better supplied with better to 73 ; the 1865 issue, 711 to 72 ; and 10-10's, 684 to 69i.
qualities of stock, have advanced. Erie Shares, at 45 to 46, are a shade lower ; and Illinois
Central have declined to 991- to 100 on sales by investors,
who bought at lower prices, to realize the large profit
which the recent advance has afforded.
B:)th yesterday and to-day there has been a good de-
mand for Atlantic and Great Western Consolidated Bonds,
and at closing quotations, 34/ to 35, they show a rise of
about 2 per cent., which in Debentures, at 291 to 30, have
to some extent sympathized.

.111EXICO.

(From the Anglo-Anzerican Times.)

The accounts of Mexican anarchy are so deplor-
able that the attention of the United States is again
much directed to that country. After a long ex-
perience few thoughtful Americans anticipated any
other result to follow the overthrow of the Empire
and the useless and impolitic execution of MAxi-
mILIAN. Yesterday, as the anniversary of that event,
mass was celebrated in Paris and in many European
capitals for the repose of the soul of the brave
and chivalric Austrian Prince ; but ere the first
year completes its round revolution is ram-
pant in every extremity of the Republic, plots are
discovered in the very palace of the PRESIDENT,
trade is annihilated, communication paralysed, and
no man in Mexico can sow with any prospect of
reaping the harvest, or at any rate of enjoying the
fruits of his toil ; indeed, the mass of Mexicans are
too lazy to give even the work necessary to gather
up the results of the industry of others. The
universal panacea for the evils of misgovernment
are supposed by many good Republicans to lie in
Republican institutions ; and this is true, if there
be but virtue in the people. It is vain to enact
good laws if they are never enforced ; and it is worse
than vain to place power in the hands of masses,
if these masses be composed of idle, lying, de-
bauched thieves. It does not follow because
a man is a man that therefore he should be a
ruler ; for, granting his natural right, there are
none so infatuated as to maintain that he cannot
forfeit that right by crime. If nations prove, by
a long course of disastrous history, their incapa-
city for self-rule, they become criminals in the
family of peoples, as individuals do by crime is
society. Few doubt the right of the United States
to put its foot down on Mexico, and enforce at
least some semblance of law and order, for a na-
tion has no more right to breed misery, disorder,
and insurrection on a frontier than a neighbour has
to accumulate filth next door and breed a pestilence.
That the armed interference of the United States
would be a blessing to Mexico is generally conceded ;
but what would be the effect on the United States?
There are higher considerations for Americans than
even the attainment of the " manifest destiny,"
that is, one sway from the Isthmus up to the Frozen
Seas. The only object of such a rule is to secure
the best and the cheapest Government to a whole
continent ; but it does not follow that because you
introduce good institutions, that therefore you re-
generate the people. You cannot reproduce the British
Government in India, nor, indeed, even in Ireland;
and the United States will work in vain to establish
any better government in Mexico than the crushing
despotism of military power. But what would the
exercise of such a force do for the Union ? It
would annihilate all the principles of free government
upon which it works. If Mexico was annexed, and
a military despotism established, the States would
cease to rule, at least in a portion of their territory,
by representative institutions, and would in part
become a conquering Power. If they introduced
their own institutions, adding Mexico as so many
States to the Union, they would bring into Con-
gress a vile foreign element, which would react
most injuriously on themselves; and leaving the
local government to the Mexicans,the disorders which
now disgrace the mongrel Republic would continue
and disgrace the model Republic. The fact is that
the United States cannot, for these reasons, at pre-
sent interfere in- their neighbours' affairs, for by
doing so, though the world would be benefited, it
would be at their loss and perplexity. Mexico is
likely to prove the puzzle of the New World, which
the United States must eventually solve ; but it will
take brains and time to work out the riddle. MA gou Ez
has publicly deniel that he betrayed MAXIMILIAN.
No doubt he feels acutely the estimation in which
his deed is held, and he began at once to realize
the traitor's doom ; but scarcely less quick has been
the punishment of JUAREZ. Despised and abhorred
by all foreign nations, with every province of his
country in insurrection, with an empty Treasury,
with clamorous and unsatisfied creditors, with the
fate he meted out to his prisoner ever hanging over
his own head, he leads an uneasy life, and learns
too late the lesson that even had there been a gain
instead of loss in MAXIMILIAN'S execution, the
whole prize was not worth the perpetration of the
pettiest crime, much less. a senseless execution.
which proved as great a want of generosity as of
judgment. The world looks for nothing from
Mexico, and will continue to regard it as the richest
country inhabited by the worst specimens of man-
kind, with one chance only of redemption, and that
is in its being occupied and held by the Army of
the United States.

The Hon. John Jay, as Special Commissioner of
New York, has reported on the Antietam Burial-ground,
and he shows that the remains of the Confederate sol-
diers who there fell are in a condition discreditable to the
nation. His words will have more effect, as he is the Pre-
sident of the Union League, an institution which at least
no one can accuse of disloyalty, nor is the record of John
Jay one that any Republican, however extreme in his
views, can find fault with. He recommends interment in
the same enclosure as the Union dead, in a spot set apart;
and as no appropriation has been made at Washington
for the purpose, he considers New York should boar its
share of the expense. "It is a fact not pleasant to relate,
but which, nevertheless, has a significance not to be over-
looked in this connection, that the remains of the Con-
federate dead on the battle field of Antietam, for whose equal
benefit, as your Excellency has distinctly shown from the
act of Maryland, this cemetery was established, now lie
buried on the battle-field, occasionally at a depth so shal-
low that their bones are sometimes disturbed by the plow-
share and the arrow." Dr. Biggs, President of the Board,
stated that a skull was recently brought to him which had
been turned up separated from the body.
The Senate has ordered 10,000 copies of J. Ross
Browne's last Report of the Mineral Regions of the Pacific
States to be printed for distribution.
[ ADVERTISEMENT.] - Holloway's Pills. --Health gad
Vigour.—To the most regular liver occasional disturbances
of digestion will occur, which may be corrected at once 14
these famous pills, the alterative and tonic powers °I
which cannot be too highly extolled. A dose now and
then will prove salutary to every one, but a continue'
course must be taken by the confirmed invalid. It is woo'
derful how the appetite and digestion improve in propor
tion as the pills exert their wholesome influence over till
animal economy. They augment muscular strength au
mental vigour. Holloway's pills frequently cure diseases
of the digestive organs after all other medicines have fu
ai/.e
to afford relief, and they are especially serviceable in tits'
orders of the liver and kidneys.

Births.
EDWARDS—On the 22d inst., at Ramsgate, the wife of J•

M. Edwards, Esq., of a daughter.
FORD—On the 19th inst., at 2, Laureston-place, Dovor, the
wife of Capt. J. Ford, Royal Artillery, of a daughter.
NATHAN—On the 22d inst., the wifo of Ernest Nathav,
Esq., of Burlington-road, \Vestbourne-park, of
daughter.

Marriages.
BLUMBERG—ROGERS—On the 20th inst., at St. Afar:/6
Spring-grove, Islewortb, Frederick W. Blumberg, sq",.
Captain 17th Lancers, third son of the late L. A. Blur,
berg, Esq., of Kensington Palace-gardens, to Laura -1.1;
Fulford, daughter of R. A. Rogers, Esq., late CaPt3l
Royal Artillery, of Oldcastle, county Sligo.
COTTAM—GIBBS —On the 18th inst., at the parish church,
• Great Stanmore, Middlesex, Thomas F. Cottam,
to Elizabeth Ramsay, second daughter of Wm. Gib"
Esq., of Bushey-heath, Herts.

Deaths.
CEARIDOE —On the 20th inst., at Stoke Villa, LoamingOth
Sir John Thomas Claridge, aged 77.
DUNN—On the 20th inst., suddenly, at Windsor, J. Dun
13'
of 157, Cannon-street, City, aged 51.
ENTWISTLE—On Ihe 20th inst., John S. Entwistle,
of Foxholes, and Castleton Hall, near Rochdale, agedi
lIARDY—On the 20th inst., Ann, the wife of John hardy'
Esq., of Fairlight, Upper Norwood, aged 13.
LINNET—On tho 21st inst., Mr. J. Linnet, late of CursiOr-
streot, and Argyll-place, Regent-street, aged 83.
STEPHENS -On the 20th inst., at 6, Canterbury-road, Pell],
ton, Mr. Thos. Stephens, late of the Swan, Stectisv
aged 42.

London : Printed and Published by WILLIA.II. AND10"0
of No. 112, Strand, Printer, at Tits SUN °Jac), N°s;
Strand, in the Precinct of the Se voy, in the Call3''
lltilgooex.—Tuoday, Julie 23, 1808.