The Sun.
London, England, 1868-11-30 00:00:00

SPECULATIONS ON GRANTS CABINET.

(From the Anglo-American Times.)

The Amercans' political fight having ended in
Republican victory, the ingenuity hitherto devoted
to the contest now finds-vent in conjecture regarding
the Cabinet, and in sketching GRANT'S future. The
Republicans rejoice in their triumph, while the De-
mocrats find comfort in the man chosen, who has
pronounced no opinions, asserting him to be Con-
servative in principle, and so decidedly the right
man for the place that many advise the Democratic
electors chosen to drop SEYMOUR, and vote with the
Republicans en masse for GRANT ; naming him by
acclamation, as once he desired, a National, not a
party, President. Indeed Democracy is sweetly
smiling on the Elect, as if her early and only choice
—and instantly a twinge of jealousy passes through
the Republican mind, and the horrid thought
arises S 6 What ! if the chosen one, the man irrevo-
cably elevated to power, should yield to rival em-
braces!" GRANT would not be the first who has
done so ; and howeyer charming " the party"
may be, it must be confessed Republicanism has
an ugly side—for how, indeed, could it be
otherwise, where BUTLER'S head is prominent ?
But GRANT is not a nice min to make love to, for,
if his eyes do not keep up the cross fire of a BUTLER,
they have a strange power of looking through
people, and seeing humbug in letters as plain as the
posters which flaunt " the largest" daily paper.
If GRANT doubted it 'before, he must now know
that his task is not easy. Already all shades of opi-
nion are closing around him, led, as usual, by the
extreme and the violent. WENDELL PHILLIPS, it
is conjectured, will, a few months hence, be in bit-
ter antagonism, and he even now complains that
not a single word had been wrenched from GRANT
in reference to the negro. The Democrats openly
announce their belief iu the split between the Exe-
cutive an I the extreme wing of the party ; and the
Republicans discuss the prediction as if there was
reason in the prophecy. The men selected for office
will indicate the policy of the Cabinet on vital sub-
jects, and conjecture most centres there. It is taken
for granted that SHERMAN will succeed GRANT iu
the command of the army ; but some advise that
the department of War with the post of Secretary
be abolished, and the whole merged in one official.
Against this, however, there is grave objection,
which will be better seen when the matter is more
discusSed, for liberty is in danger when power, so
general, is placed in one hand. It is not so easy
for the prophets to fill the place of Secretary of
War, though that of the Navy is given with a de-
gree of certainty to Admiral FARRA.GUT. Some
think that the preseut incumbent, General SCHO-
FIELD, who, with GRANT'S sanction, gave up the
military command of a department to take the office
from SrANTON, will be retained, as it would be hard
for that officer to lose his military appointment
because the country thrust him into a civil post as
a temporary stop-gap. The opinion, however, ap-
pears more general that the Hon. E. STANTON willre-
turn to his old seat, and behind him come many names,
such as RAWLINS, BANKS, WILSON, and CAMERON,
Which list will be increased before GRANT selects his
man. There is no office more speculated on than
that of Secretary of the Treasury. Mr. M'CUL-
LOCh is too weary of the work to remain, under
any circumstances, after next March, and we must
confesi that he has had enough to disgust him. The
person most prominently brought forward as his
successor is A. T. STEWART, which may, or may not,
be a happy hit on the part of the public. We are
profoundly ignorant on Mr. STEWART'S financial
qualifications, though we know in common with
the world that he is one of the most successful mer-
chants of his age. If, however, the public believe
that a man must necessarily be a great financier
who is a skilful trader, we think they err. Mr.
GLADSTONE is the greatest of living financiers, but
nearly all his countrymen consider that he would
have made but a poor trader. A man full of
scruples and crotchety ideas who would argue not
act, when a good stroke of business offered, who
would decline the most profitable enterprize if it
did not come up to the square of his morality, who
would be perpetually splitting hairs instead of
grabbing coppers, could not trade at a profit. In-
deed Mr. GLADSTONE'S brain is an inflated balloon,
Which rises rapidly into the clouds unless seesdied
and kept to-the earth by bags of figures. Bat when
he gets these on board he becomes at once practical
and master of the position. Ile is a genius whose
flight is above such work, bat does it well and
thoroughly when he descends to it, while A. T.
STEWART'S career would probably keep him on a
level bel)w his work, and it is harder to ascend
than to descend. JAY COOKE is also rucutio ied, and
the same remarks apply to him. Senator SHERMAN,
E, B. WasmsußNE, and a host of others are
suggested, and objections have been started,ag tinst
men like STEWART' by Protectionists who fear their
free-trade proclivities. Many best qualified to
judge hold the fittest man to be WELLS ; for finan-
ciers are not heaven-born, and require the very
study which has qualified the late Special Commis-
sioner to Europe, for the post. If he be not selected
for this,etohueghtto most
bimportant office of the Govern-
ment, placed by the side of the Sec-
retary, h
so as to make his influence felt both in the
Cabinet and in the department. Senator EDWIN D.
MORGAN, of New York, is talked of, as well as
GEORGEof Massachusetts, for the
place:
concernsu England, however, is
the
Secretaryship of State. Four
oo most
selection Whatt S.
B f
tilVeE
names are prominently before the public in connec-
tion with this post. The first is SEWARD'S, whom
GRANT may retain, as the Secretary denies
the rumour that he is about to marry and
proceed to Cuba. His long and faithful ser-
vice, and the fact that the States have at-
tained to the highest influence under his re-
gime, may dispose the President Elect to keep him
in his counsels, unless, .a doubtful contingency, he
retirement. seeks re • Senator - g LIMNER, of Massachu-
setts, is the next and best name which suggests
itself. His, is a long and consistent political record ;
liberal, where others were narrow and bigoted ;
moderate and Conservative, where many were vi)-
lent and unjust. His antecedents, sound judgment,
and long services are all in favour of the appoint-
Ment, but one objection is noticed—a meddling
disposition, which would lead him to trespass beyond
his own into the departments of other Ministers,
and fears are expressed that be might try to take
the whole business of the Cabinet upon his own
shoulders. Putting this aside, he is one of the safest
men to whom to. entrust the oldest and highest
Secretaryship in, the Executive, and a statesman
who would shed a brilliancy on any Administration.
Both the others are diplomatists, and celebrated, the
one in literature, the other in many ways, besides as
an: Ambassador. Mr. MOTLEY'S name has recently
been much before his fellow-citizens as likely to
till a post, and Mr. ADAMS has a career and claims,
GRANT could not overlook if that gentleman
pressed for employment. All these men. are ad-
mirably suited to be SEWARD'S Successor ; all are
staunch Republicans, although (Mr. ADAMS more
especially) moderate in their political principles. If
England bad any voice in the matter she could not
object to one of them, but rejoice that GRANT'S
selection had been wisely made in the interests of
peace. Senator WADE may be named Secretary of
the Interior, and HORACE GREELEY will certainly be
(unless the public are quite out) Postmaster-Gene-
ral. There are some, however, who think that Mr.
REVERDY.JoHNSON will be recalled, and be succeeded
by HORACE GREELEY, while Mr. BANKS, if General
Dix chooses to resign,
might be sent to Paris ;
but these changes are highly improbable. On the
whole the people understand that none but the best
men will have a chance of a seat in GRANT'S Cabi-
net, and their names only come up for discussion.
GRANT'S friend and neighbour, E. B. WASHBURNE,
as well as RAYMOND, of the New York, Times, are
considered sure of office, if they will accept it.
Admiral PORTER, WILLIAMS of Oregon, WILSON of
lowa, are also on the speculators' list, which we
have now pretty well exhausted.

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FOREIGN NOTES.
VIE OUTBREAK TN NEW ZEALAND.

The sort of autonomy which New Zealand has obtained
does not answer. The colonists cannot complain of undue
interference in the management of their affairs ; the Crown
names the Governor, and the colony itself does everything
else. But our countrymen in New Zealand are still open
to the force of public opinion at home, and, as the Times
truly remarks, it is full time that this public opinion
was duly exercised. The history of the colony which
possesses some of the greatest natural advantages in the
world has been for the last few months a series of disasters.
One hundred and eighty native convicts have made a suc-
cessful and a decidedly creditable escape from a group of
islands 400 miles distant from New Zealand. The " war "
which has followed has increased the glory of the Maoris,
but has done nothing to advance the credit of England.
Several checks have been experienced, the last being the
repulse of an expedition consisting of 250 colonists
and 110 natives, with the loss of fourteen killed
and five officers. It is clear that the colonial
force, which has been allowed to dwindle to 300 men, is
much too s, 11. A respectable colonial army would have
altogether prevented this insurrection. Now, nothing
remains but to put it down, and perhaps, as the Times
remarks, it will be necessary to put it down " sternly."
But it is surely a deplorable issue of colonial policy that
we cannot live with the finest savage race in the world on
terms of amity. We manage very well with natives who
are scarcely a step above the brutes, but we can do nothing
with Maoris but exterminate them.
MR. HOWE AND THE CANADIAN DOMINION.

Mr. Howe, the quondam leader of the Anti-Confedera-
tion party in Nova Scotia, has published a defence of his
conversion. He has given up the idea of separating Nova
Scotia from the Dominion of Canada as impossible, and
his defence is entirely devoted to proving this impossi-
bility. He relates the history of Mr. Bright's attempt to
procure an inquiry into the question by means of a royal
commission. Mr. Bright's motion in the House of
Commons obtained only 87 votes out of 300, and a similar
attempt in the House of Lords found only two sup-
porters. Even after the rejection, Mr. Howe hoped
that the Reformed Parliament might consider the matter.
But Mr. Bright could hold out no hope of this. He gave
Mr. Howe to understand that " unless the circumstances
materially changed, Nova Scotia could not expect Mr.
Gladstone and the leading men who would form his
Cabinet, if they got a majority, to reverse a policy which
they claimed as their own, and which the Conservatives
had adopted under their pledge that it should be main-
tained." Mr. Howe demonstrates quite satisfactorily what
no one was ignorant of—that the project for separating
Nova Scotia from the Canadian Dominion was hopeless.

of the Vanderbilt stock to sell out and relieve their minds
and their pockets at once. Mr. Vanderbilt, it says, is not
disposed to meddle with the ups and downs of Wall-street
to manifest his confidence in his stocks, and has no opinion
of their propective and intrinsic worth which will not be
more than realized. Itis quite likely that the Central and
its associate stocks will, however, bo at a low tide for
some time to come, and that the " bears," who just now
seem to lord it over Wall-street, will next reap bountiful
and "ill-gotten gains" from this tempting and valuable
prize. Other railroad stocks are also on the decline, and
should Wall-street remain quiet, and sufficient money be
available for speculation, it is also certain there will be
"thunder all around" when the " bulls" and "bears" get
airly at work.
(From the Wall-street .Tournal)
NEW YORK, Friday Evening, Nov. 13.

Railroad stocks are very excited, and the bears com-
pletely control the market. First-class Railroad Gold
Bonds are, however, well Bast:titled for investment, and
we notice largo purchases of Central Pacific, Union Pa-
cific, and R►ackford, Rock Island, and St. Louis. In Mis-
cellaneous stocks there is little doing, excepting in Pacific
Mail, which continues to steadily deciine. Mining stocks
aro generally slow, the exceptions being Consolidated Gro •
gory, Grass Valley, Quartz Hill, and Smith and Parmelee.
Petrc'euin stocks are steady, with a fair business doing.

NEW YORK RITES OF EXCHANGE,
Sixty Days. Three Days.
London Bankers
Lou:. n, Prime Commercial loB+-109
Paris, Bankers
Bremen, Bankers
Jlamburgh, Bankers 321 —3t;
Frankfort, 0.11 4O t —4l
Berlin and Cologne
Antwerp 5.20 —5. td}
Amsterdam, Bankers
Swiss

Foreign Exchange is weak, and the business has been
limited. Border State Bonds a're pressed on the market
at s general decline of I to 1 per cont.
The following are the quotations for coin :
Amer. silver... 96/ to 97 I Eng. sovs 4BB to 491
Mex. d011ar5...1031 „ 104/ 20 francs 386 „ 388
Eng. silver 480 , 485 I
Thalers
Five francs .... 96 „ 97

CLOSING PRICES.
PUBLIC FUNDS OF THE UNITED STATES.

Sixes, 1868, registered — to
Sixes, 1868, coupon
Sixes, 1881, coupon ll3l to 1131
U.S. Os. Pacific Railroad — to
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon
Ten-forties, coupon lO3l to 1031
U.S. 5-20 oupons, 1868 lOB- to 1081
RAILROAD AND MISCELLANEOUS STOCKS.
N. Y. Central ll5l
Erie
Hudson
Reading
Mich. South. &N. I B2l
Illinois Central
Cleveland & Pittsbrg B2l
North-West
North-West Preferred 821
Canton..
Rock Island
Cleveland and Toledo 971

Fort Wayne
Pacific Mail ll3
Atlantic Mail
Quicksilver
W. U. Telegraph
Mariposa Preferred 194
Ohio and Mississippi 291
Boston Watsr Power lb
Cumberland
Bankers and Brokers lO6
M St. Paul
M & St. Paul Preferred 80i
at RAILROAD MORTGAGES.

Chi. & N. W. Ist M 9ll
Tol. & Watb. Ist 31 Ex 9l
Gt. Western 2d M 'M 76
& Pr. du Ch. Ist 31
• & Chic. Est 9B
• & Chic. 2d AI 95
• &R. I. Ist 31 101
CIA. R. I. & Pacific 7's 941
Cleve. & Tol. S. Fund 1001
N. J. Central Ist M 101
N. J. Central 2d Al 101
Pitts. I, & Ch. Ist M 103
Pitts. Ft. W , & Ch. 2,1 M 100
Fits. Ft. W., & Ch. 33 M 9l
Clove. & Pitts. 23 M 9O
• & Alton, S. P. Inc 921
Chic. & Alton, S.F. lstAl 101
Alit. & St. Paul Ist M 92
Alil. & St. Paul 23. Al.„
Marietta & Cin. Ist 31 9ll
Morris & Essex Ist Al_ 94
Morris & Essex 2d 31 88;
Joi!et & Chic. Ist 51 103
Chi. & Gt. East'n Ist M._ 73
N. Y. & N. H 6s 95
Dubuque &S.City,lstll 92
Peninsula Ist M 0
Ohio & Miss. Ist AI 95
Ohio & Miss. Con..
Tol. P. W. Ist Al. E. D B4
Atlantic & G. W. Ist M. 70