The Sun.
London, England, 1868-05-07 00:00:00

THE SUN, LONDON, THURSDAY EVENING, MAY 7, 1868

SPORTING INTELLIGENCE.

CHESTER MEETING-WEDNESDAY.
THE CUP DAY.

Before proceeding to the features which characterised
the Cup Day, it may not be uninteresting to give a resume
of the doings at the Rooms on Tuesday evening. There
was an early assemblage, and betting was carried on with
considerable spirit to the close. The feature of the even-
ing was decidedly the advancement of Dalby, who was
supported for about £4OO at 12 to 1, and subsequently
1000 to 100 was laid, with the proviso of a start for the
money. Then 10 fifties were laid twice, followed up by 10
"ponies," and the last offer was 100 to 15, which was taken
once or twice. The favourite, Paul Jones, maintained his
position at the head of the poll with considerable firmness,
but his style of galloping over the course in the morning
did not seem to have pleased the " talent," as 9 to 4 was
obtainable without difficulty, and after these odds had
been taken several times 1000 to 400 was laid, that
being the last bet booked in favour of " the Buc-
caneer." Beauty was comparatively firm, and at one
period of the evening touched 9 to 1, but a point
more was offered against Mr. Wood's mare at the finish.
The owner of Stradbroke supported his horse to win a
good stake, offering early in the evening to take 10,000 to
1,000, but that was not forthcoming in one bet, although
he was offered ten pcnies in one hand. Between Beauty
and Stradbroke there was some rather sensational mixed
betting, an even thousand being laid in one hand that the
Newmarket Nursery victress defeated Stradbroke, one of
the pair, however, to win, or the bet to be off. The wager
was supplemented by another of a "monkey" even that
Beauty beat Stradbroke the beet of one, two, or three
Abergeldie and Bracken were comparatively firm at their
respective prices. 20 to 1 was accepted several times about
Treasure Trove, whose owner expressed his willingness to
take 20,000 to 1,000 in one bet, but none of his brother
professionals seemed inclined to lay to so much money,
and the horse was not backed for a great deal. The other
features were in connexion with Thalia, Seville, and Tom
Dawson's lot. Lord Westmorland's mare received the
support of her noble owner, who was at first offered 30
ponies, but on his asking 1,000 to 30, he was immediately
accommodated, one bookmaker laying his lordship 5,000
to 150. A young nobl anan, said to be the bona fide owner
of Seville, backed the latter for a similar amount, but there
was a great disposition to lay against the mare, and plenty
of 1,000 to 30's were procurable to the close of the rooms.
With respect to the Mid dle,ham lot, there was an evident dis-
position to back Minster Bell, whose closing price was
20 to 1 ; but she was bucked, in conjunction with
her stable companion The Priest, at 1,000 to 70. Some
badinage about Caithness's chance resulted in some " tall',
betting in respect of the despised Beckhampton represen-
tative, against whom Mr. Stephenson betted 5,000 to 150,
stipulating that Cannon should ride the son of St_ Albans.
Grey Stocking was in fair demand, and, after 100 to 5 had jl
been booked in her favour, 20 to 1 was laid several
times to a lot of money. The extreme odds of 100 to 1
were offered against the somewhile favourite Viridis, but
found no takers. Had those odds been forthcoming against
Knight of the Garter he would have been backed, but only
for a limited amount. The Derby betting was limited to
a couple of transactions. Lady Elizabeth was invested
upon, 1,050 to 300 being laid, after 'llO to 60 had been
taken. Paul Jo: es was backed once, 200 to 10 being booked
about the Chester Cup favourite.
Early this morning there were indications of a great
day, and that the Chester Cup has lost but little of its for-
mer prestige as a race possessing special attractions for
the people was apparent from the immense crowds who
ass ambled in the ancient city at a very early hour. Spe-
cial trains were run on both the Great Western and the
London and North-Western Railways from the metro-
polis, and these " Cup Day Excursions," as they were
called, brought down immense crowds ; and well they
might, considering that only 12s. 6d. was charged for the
double journey. If the London trains brought their hun-
dreds, however, thousands cama by those which were run
at cheap rates from the West Riding of Yorkshire, Lan-
cas hire, the Potteries, and the Black Country. The scene
at the station was something immense, and that the people
of Chester deemed the crowds alone no mean sight was
evident from the manner in which they packed the walls
at points where views of the moving panorama were to be
obtained. From au early hour iu the morning until the
masses had taken up their position on the Rootlet, the
streets were quite impassatle, and the ancient " rows "
were blocked. The morning gallops of the Cup comp.-ti-
tors were witnessed by large crowds, and the morning
being extremely fine and mild the scene on the amphithe-
atre was very animated. Nearly the whole of the horses
engaged to-day were out, and among them was the unpre-
cedented favourite, Paul Jones, whose style of going
scarcely gave more satisfaction than on the previous even-
ing. At the rooms there was but little doing. Minster
Bell advanced to 22 to 1, which odds were booked by a
well-known backer of horses to £5O. The favourite and
Dalby were firm, and Thalia received some support at 25
to 1; a bet of 250 to 10 being booked in favour of Lord
Westmorland's mare. The attendance on the course was
the largest ever known, every available point on the wall
being occupied, whilst the vicinage of the rails on either
aide was packed from the Workhouse turn (which is that
b-youd the Stand) to the Grosvenor-bridge turn. The
bridge itself was crowded, indeed every spot from which a
view of the great race could be obtained bad an occu-
pant. The ring and Grand Stand were crowded to excess,
and as only a couple of races were fixed to take place before
the Cup, people early took their places on the Stand. The
weather was beautifully fine, in fact we cannot call to
Members' fort
Plate, he
ands po sport. mud a Chester Cup day when the weather was more fa-
vourable h
o SPe raondu'vcewSatlakkeeds ohvaevri having been
rthe
Cityd e
-
cid. d in favour of Badsworth, the jockeys proceeded to
weigh for the Chester Cup. R. Chaloner was the first to
weigh, which he did for War, Butler, Parry, Covey, and
the others fallowing in succession, Paul Jones being one
yo
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I owner and friends had asserted in his favour. The re-
•
mamder of the day's sport does not call for remark. De,
tails are appended :

The City Members' Plate of 5 sovs each, with 30 added,
for maidens; weight for age; mares and geldings al-
lowed 31b. Six furlongs. Six subs.
Mr Snewing's Seamew, by Orlando —Ossifrage, 4 yrs,
Bst 111 b
(J. Goater) w. o.
Great Chester Produce Stakes of 10 sovs each, with 30
i added, for two year olds ; penalties and allowances.
T.Y.C. 17 subs.
Prince D. Soltykoff's Badswarth, by Carnival—Berezina,
Bst 121 b (inc. 71b ex.) (T Mann) 1
Mr C. Peck's Agrippa, Bst 71b J. Osborne) 2
Betting-4 to lon Badsworth.

Badsworth waited on the non-favourite till making the
band into the straight, when he came away and won in a
canter by three lengths.

TheTradesmen's Piace of 200 soya, added to a sweepstakes
of 23 SOVS each, 15 ft: second to receive 15 soya out
of the stakes, and winners to pay 50 soya towards ex-
penses; winners extra. Cup Course, about two miles
and a quarter. 139 subs, 56 of whom pay 5 soya each.
Mr Hodgman's Paul Jones, by Buccaneer Queen of the
Gipsies, 3 yrs, 6st lib (car Est 21b) (Jeffery) 1
Mr Proctor's Guodwood, 4 yrs, Bst 41b (Parry) 2
Mr J. Wood's Beauty, 3 yrs, Est 13Ib (Butler) 3
Mr Watt's Stratheonan, 5 yrs, Bst 121 b (Custance) 4
Mr W. G. Bennett's Dalby, aged, Bst Blb (S. Mordau) 0
Mr Palmer's Caithness, 5 yrs, 7st 13th (Cannon) 0
Mr Swindell's Abergeldie, 5 yrs, 7st 71b (Inc 5113 extra)
(H. Covey) 0
Mr R. C. Naylor's Grey Stocking, 5 yrs, 7st 41b (in 10Ib
extra) (Maidment 0
Mr Bowes's War, 5 yrs, 7st 41b ............... n. (U. Chalo”
Mr J. Dawson's Seville' 4 yrs, 7st 21b ...... .....(Hibberd 0
Mr Fobert nu Bracken' 4 yrs, 7st 2lb .......... . . (P4pler) 0
Lord Westmoreland's Thalia, 5 yrs, 7st ......... (Kenyon) 0
M. Cavalieru's Treasure Trovo, 5 yrs, Est 13ib

(Hammond'
Mr Johnstone's The Priest, 4 );Ts, Est 121 b
(Cameron'
Mr Johnstone's Minster Bell, 4 yrs, Est 111 b (Hudson)
Mr J. Stephenson's Stradbroke, 4 yrs, 6st 41b
(Cradock'
Mr Barber's The Clown, aged, Est 101 b (Gradvrell'

MrJohnstone declared to win with Minster Bell.
-

Bettiug-6 to I agst Paul Jones, 6 to 1 agst Dalby, 7 to
1 agst Stradbroke, 12 to 1 agst Beauty, 14 to 1 aget Grey
Stocking, 100 to 6 agst Minster Bell-25 to 1 agat Aber-
geldie, 30 to 1 each agst Seville, Bracken, and Thalia, 33
to 1 each agst The Priest and the Clown, 100 to 8 agst
Strathconan, 50 to 1 agst Goodwood.
Place Betting-6 to 4on Paul Jones, 2to 1 each agst
Dalby and Beauty, 5 to 2 agst Stradbroke, 3 to 1 agst
Minster Bell, 4 to 1 each agst Strathconan, Grey Stocking,
and Goodwood, 6 to 1 each agst Seville and Thalia, 8 to 1
agst The Clown.

The numbers of the seventeen competitors were tele-
graphed at three o'clock precisely, 20 minutes before the
time appointed for the race, but a few seconds before the
numbers were hoisted several of the horses had made their
appearance on the course. It is somewhat singular that
Paul Jones, who was one of the last to weigh out, should
be the first to appear on the course. Balchin was at his
head, and led him about for a minute or two. Abergeldie,
Grey Stocking, Strathconan, Dalby, Goodwood, and
Beauty were the next to appear, and all the others, except-
ing the Middleham pair, Priest and Minster Bell, were
soon out. The latter pair did not show till after the
others had taken their preliminary canters, and then
they went to the post to join their horses. The Clown,
who was rather fractious, showed the way in the canters,
Dalby, Grey Stocking, Caithness, Seville, Beauty, Good-
wood, Strathconan, War, Bracken, Stradbroke, Aber-
geldie, Paul Jones, Treasure Trove, and Thalia ft,l-
lowing Mr. Barber's representative in the order named.
They reached the post, at least eight minutes before
the time appointed for the start, and owing to the
restiveness of The Clown, Beauty, and Minster Bell
there was a break away, in which Clown ran to the dis-
tance post, from which Palmer led him to the start-
ing post, which was between the Grosvenor Bridge and
the turn into the straight. As soon as the old horse had
joined the other competitors, who were in excellen order,
Mr. M'George lowered his flag, and the lot were despatched
on their eventful journey to au excellent start. Minster
Bell was the quickest on her legs, but Hudson pulled her
back as soon as a stride or so had been taken, and The
Clown, oersted by his light weight, rushed to the front,

having a position next the rails, and holding a clear lead
of Goodwood, Grey Stocking, Beauty, Paul Jones, and
Thalia, this lot comprising the leading division till reach-
ing the Stand, on passing which The Clown still held a
lead of fully three lengths of Goodwood and Thalia, in
close attendance on the latter pair being Grey Stocking,
Minster Bell, and Treasure Trove, the well-packed ruck
being headed by Beauty and Paul Jones, the rearward lot
consisting of Seville, Dalby, Caithness, and Abergeldie ;
the last of all, and apparently out-paced even thus early
in the struggle, was Stradbroke, whom Cradoek had to
ride immediately afterwards to take and keep a place
among the competitors After rounding the turn passing
the Stand Jeffery took Paul Jones up to the girths of The
Clown, who was leading the field at a cracking pace.
The favourite at this point had for his immediate
attendants Thalia, Treasure Trove, Minster Bell, and
Goodwood, the latter pair having advanced from the
ruck, and were now in front of The Priest, Seville, and
Grey Stocking, Stradbroke and his stable companion,
Caithness, heading the ruck, prominent in which was
Beauty, the last three as they rounded the railway turn
and made for the stretch along the Dee side being Strath-
conan, Abergeldie, and Dalby. No material change oc-
curred in the positions as indicated until making the turn
at the Grosvenor-bridge, when the lot to,,k closer order—
but The Clown as they came into the straight shot out
again, and before reaching the Stand was fully a couple of
lengths in advance of the favourite, who was followed by
Thalia and Strathconan, next to these coming Goodwood,
Minster Bell, and Priest in a body, they being succeeded
by Beauty, Treasure Trove, Seville, and Stradbroke; clear
of the latter were Bracken, Abergeldie, Caithness, and
Dalby, Mr. Bennett's horse acting as whipper-in until
rounding the workhouse turn, when Riordan took him
through his horses, taking his place at the quarters of
Strathconan, and at the head of a body of horses, who
were so closely packed that but for one or two of them
running rather wide at the Railway turn, a scrimmage
was inevitable. As it was, both Strathconan and Dalby
were slightly cannoned against, but not hurt. As they
traversed the Dee side Beauty drew out of the ruck,
and Thalia beating a retreat the retirement was
taken advantage of by Jr. Wood's mare, -who ran into
third place, lying three quarters of a length in rear of the
favourite. Half a mile from home The Clown had shot
his bolt, and Paul Jones at once
stook up the running,
Beauty and The Clown being, however, in close attend-
ance on the favourite, and just in advance of Goodwood,
Strathconan, and Dalby, the field being now rather strag-
gled. On reaching the Badge turn The Clown dropped
away, and Dalby took the third place, lying just in front
of Goodwood and Strathconan. Within the straight, how-
ever, it was apparent that Paul Jones, who was coming
along at a rattling pace, had the race in hand. Dalby and
Strathconan dropped back as soon as the straight was
reached, and before nearing the distance Beauty was in
trouble, and Goodwood alone was left to struggle with the
favourite, and, despite Parry's resolute riding, Paul Jones
never allowed the Amanda colt to get to his head, and
drawing away at the commencement of the Stand enclo-
sure, he won very easily by a length. Goodwood was two
lengths in advance of Beauty, and the latter three lengths
in front of Strathconan, Dalby, close up with the " grey,"
was fifth, not more than a head in front of Bracken, sixth.
Then came Minster Bell seventh, Priest eighth, The
Clown pulled up lame, ninth, Stradbroke tenth, and Caith-
ness eleventh, slight intervals separating them. Thalia
was twelfth, Treasure Trove thirteenth, and Grey Stock-
ing next. Cantering in came Abergeldie, War, and Seville,
the latter pulling up on the post.
Stand Stakes of 5 soya each, with 50 added; weight for
age. Five fur. 8 subs.

Capt. Mitchell's Festival, by Tournament, 3 yrs, Bst 51b
(Z 10) (Jeffery) 1
Mr. Johnstuue's Zingara, 3 yrs, 7st 131 b (X4O)
(Cameron) 2
Prince Soltykoff's War Queen, 3 yrs, 7st 81b
(Butler) 3
The following also ran :—Dr. Wilson, Festivity, Cou-
leur do Rose f, and Hatty. _

Betting —ll to 10 agst Festival, 4 to 1 agst War Queen,
and 5 to 1 agst (Jouleur de Rose filly. Won by a neck.
Mr. Blanton claimed Ziugara, Mr. Hodgman Hatty, and
Mr. Mackenzie purchased the winner for 180 gs.
Flying Handicap, 5 sovs each, 2 ft, with 100 added. Five

vent during the remainder of the term the absurd
spectacle of two Secretaries .of War in the same
capital, each pretending to administer the duties of
the office ? In case of acquittal the battle will be
renewed, and the PRESlDENT—invigorated by suc-
cess—may perhaps shake off the Congress " bang-
ing on the verge of Government ;" but whether he
does so or not he doubtless will still keep
up excitement and " sensation" at Washington.
We see no reason, however, to, modify the opinion
we have before expressed, that ANDREW JOHNSON
will be found guilty on the charges of infringing the
Tenure-of-Office Act, which Act will be pronounced
by the Senate to be constitutional ; he will also be
convicted of having officially communicated advice
to the Alabama Legislature, to defeat the 14th
Amendment, in violation of his official duties, and
in undue interference with the exclusive functions
of Congress. The conspiracy charge has, we think,
failed, the evidence not being such as to substan-
tiate the accusation, and with the charge goes a
large measure of the evil intent attributed to the
PRESIDENT in infringing the Act. The Managers
deny the necessity of proving wrongful intent,
yet, by every means in their power, they have
endeavoured to esteblish such an intent, the intent
being regarded as the essential element of crime by
the criminal law. .11.td the conspir scy been proved
the wrongful intent would have been evident ; but,
it is alleged, failing circumstantial evidence, in all
trials presumption of intent is accepted. The PRE-
SIDENT, it is argued, in having removed Mr. STAN-
TON, intended to do so, an 4 the removal being in
violation of a statute, the presumption is that he
intended the violation, and in this design is the
criminal intent, which makes his act a high misde-
meanour. To this he replies that he is not guilty
of a criminal deign; the validity of the statute
being fairly open to doubt, which could only be
tested by his violation of it, a course intended to set
in motion the judicial machinery by which alone a
decision could be obtained ; and this, and no other,
was his object. If the PRESIDENT has succeeded in
proving this, he may be held_to be innocent of any
misdemeanour in infringing the Act. But the
evidence goes to show that his object was to get
possession of the War Office, and to compel Mr.
STANTON to commence proceedings ; the other
view being only supported by ANDREW JOHNSON'S
own declarations. The speeches attributed to the
PRESIDENT during his memorable tour have been
proved ; but, alth eugh morally damaging, they do
not constitute crimes sufficient for the deposition of
a PRESIDENT. The Russia brings news to the 224
April, and the report elsewhere alluded to is shown
to be true, that a motion was about to be made to re-
call the Managers and rescind the Impeachment pro-
ceedings, as it had actually been introduced into the
House by Mr. ROBINSON, and defeated by 91 to 18.
Another was brought forward to have the reports of
the Managers investigated by a committee, but with
what object we fail to gather from Reuter's tele-
' gram. It had reference to the evidence given by
General SHERMAN, but no vote was taken on the
resolution.

UNVEILING OF IHE LINCOLN MONU-
MENT AT WASHINGTON.

The 'lsth of April, being the anniversary of Pre-
sident Lincoln's assassination, was the day chosen
for unveiling the statue in front of the City
Hall, raised to his memory by the citizens of Wash-
ington. The business departments, the muni-
cipal offices, and the public schools closed, flags
were displayed at half-mast, and cannon fired
at stated intervals during the day. Major B.
B. French delivered the address, Colonel E. B.
Ormstead recited a poem. Andrew Johnson,
who was present, said :—" My friends, it is
hardly necessary tor me to inform you what is
now to take place, or who the distinguished
person is who will perform the ceremony. The
anxiety depicted in your up`urned countenances
plainly tells that you are awaiting the unveiling of
the statue," when he pulled the cord, and the cover-
ing fell amidst vociferous cheers. The monument
is about 40 feet in height to the top of the statue.
It rests on a solid foundation of blue rock, six feet
in depth. The base is an octagon, six feet in
height and about seven feet from side to side, on
which the base of the column rests, the lower
part corresponding with the base, and the up-
per part with the shaft, being circular and
moulded. The shaft is eighteen feet in height,
with an average diameter of three feet (tapering),
and is surmounted by a moulded cap, four feet
square and two feet thick, on which rests the base
of the statue, and the statue itself. The figure at
this height looks to be about life size, and stands
facing south. It represents Lincoln standing with
his left hand resting on the emblem of Union—the
Roman Facii—his head erect, with a slight incli-
nation forward, and right hancl-liariiallY op-en, as
in the attitude he was wont to take in addressing
an audience. The design was first made in clay by
Mr. Flannery I.,st summer, and was subsequently
cast in plaster. The model attracted much atten-
tion as a spirited design and excellent likeness. Mr.
Lot Flannery, the artist, was introduced, and loudly
cheered.—Anglo-American Times.

THE AMERICAN PRESS ON GEN. GRANT.

The newspapers are more than ordinarily busy
with General Grant. The New York World has
had the bad taste to cast aspersions on his
courage. It says lie has never been in
the thick of a fight, has never led a charge, has
never chivalrously exposed his person to danger."
Mr. Wendell Phillips has been working to prove
Grant a drunkard, and has freely used the columns
of the Anti-Slavery Standard to support his accusa-
tion "of drunkenness in the streets of Washing-
ton." The evidence which satisfies Wendell Phillips
is worth giving. It mainly consists of a letter from
Senator Wilson, who declares "he had seen Gen.
Grant in his camp, in his office, at his own house,
and at dinner parties where liquors were freely
used by others, but had never seen him drink even
a glass of wine, nor had he ever seen him when he
had the slightest reason to believe that he was in
any degree under the influence of drink." Mr.
Pnillips argues, first, that Wilson fails to state that
be had never heard from trustworthy sources of
the public drunken exposure of his candidate ; next,
that Mr. Wilson's character is to Mr. Phillips suffi-
cient, as he knows it well, and the conclusion he
arrives at is " to me no further evidence is neces-
sary." We forgot to add another strong proof ad-
vanced by Mr. Wendell Phillips, viz.,--that Wil- -
Liam E. Dodge, President of the National Temper-
ance Society, after a visit to Washington, " assures
the temperance men they need have no fears"—a
little speech which, according to Mr. Phillips, "the
thoughtful Teetotallers" will consider conclu-
sive. The President is one of the most bit-
ter of Grant's accusers. In his interview with
the correspondent of the Cincinnati Commer-
cial, to which we alluded last week, Andrew
Johnson said, "He was perfectly willing they should
investigate his condition on that trip (round the
circle). The public had been led to believe that he
was intoxicated all the way, from the time he left
Washington till he got back. But let them take the
trouble to find out, and they would discover that
that was a mistake. They will find out, at any
rate, that I didn't drink half as much as one or two
others about whose condition nobody dares to say
a word.'

" ' I think I can guess the name of one of them,'
sail I. ' Didn't he go from Cleveland to Detroit,
and wasn't it announced with a great flourish of
trumpets that he had left your party in disgust ?'
" Yes,' replied the President, he went to De-
troit ; but it wasn't because he was disgusted with
my politics at all. In fact he wasn't in a condition
to know much about politics just then.' "
There is a report at Washington that Butler had
made advances to patch up his quarrel with Grant.
A friend of Butler's called on the General, who
quietly observed, iu answer to what the friend had
urged, that he had no misunderstanding with But-
ler. It was true he did not think very much of
him, but that vas merely a private opinion. Grant
has contradicted the rumour. that he had publicly
expressed his opinion that it' was necessary to, get
rid of the President. No less than eight new
biographies of. the General are in the press,
which are expected to come out is the fol-

lowing order, and in time for the Presidential
campaign :-1. Charles A. Dana, author, Gurdon
Bill, of Springfield, publisher. 2. A. D. Richard-
son, author, American Publishing Company of
Hartford, publishers. 3. Henry C. Deming, author,
S. S. Scranton and Co., of Hartford, publishers.
4. E. D. Mansfield, " The Veteran Observer" of
the New York Times. author, R. W. Carroll and
Co., of Cincinnati, publishers. 5. John S. C.
Abbott, author, B. B. Russell and Co., of Boston,
publishers. 6. J. T. Headley, author, E. B. Treat
and Co., of New York, publishers. 7. P. C. Head-
Icy, author, Derby and Miller, of New York, pub-
lishers. 8. Author unknown, Ledyard Bill, of New
York, publisher.

ENGLISH AND AMEI?ICAN EgPENDI-
-7 URE IN CHINA.

Some years ago the Manchester school, after
getting the British Parliament to accept the princi-
ples of free trade, endeavoured to attract attention
to the expenditure from the Imperial exchequer for
the benefit of cDlouies or dependencies in remote
parts of the globe, but the effort so made, but
languidly persisted in, has done little else than
operate as a reminder to the public, and has never
been so far intensified as really to arouse public
action in the matter; nevertheless, the change of opi-
nion that has undoubtedly taken place of late years
as to the expenditure of the revenue of the United
Kingdom might besupposed to have resulted in a con-
siderable reduction of expenditure in those cases
where such expenditure is unconnected with Imperial
interests and benefits, or a particular class, or a parti-
cular locality. We feel in some sense provoked to this
line of reflection by an examination of class V. of
the Civil Service estimates recently laid upon the
table of the House of Commons. This class com-
prises the colonial, consular, and other foreign
services; its amount is £486,277. Five and twenty
years ago, namely, in 1843, it was £403,336
among its details is £117,615 for services in China,
Japan, and Siam.
A reference to the Report of the Secretary of the
Treasury of the United States, on the state of the
Finances, made in 1867, shows how much more
cheaply some things are done at Washington than
in London, the total expenditure for " Foreign
intercourse" at the Capitol being £254,703, as
against the £486,277 expended by England, and,
so far as can be ascertained, the expenditure
by the American Government for civic estab-
lishments iu China and Japan must be under
A:10,000—in the case of interpreters alone
America only spends £2,007 as against Eng-
land's £23,600. Who will not say, after this, that
John Bull's extravagance is in excess of his good
sense, and that to carryout his theory of developing
commerce, and his dictum of eivis Romanus sum, he
puts his hands into his pockets with a questionable
prodigality. There is little doubt that America
takes the correct view of this species of expenditure,
and feels that if it is incumbent to have estab-
lishments for the assistance of her merchants
that her citizens are not to be immoderately taxed
for the purpose. For ourselves we would almost
go further, and ask why these charges should not
be borne by those who benefit by the establish-
ment they go to maintain. The development of the
trade with China, Japan, and Siam has undoubt-
edly benefited those engaged in that trade, and if
they find it necessary to resort to consular and
judicial functionaries, why should either the Bri-
tish or American tax-payer so good-naturedly
pay those functionaries, when, individually, they
do not benefit by_them ? One thing is very certain,
so far as England is concerned, and that is, that
these charges upon the pocket of the British tax-
payer nullify the supposition that any earnest ap-
plication of the theory of the non-diversion of taxes
has been attempted, because this charge for China
has arisen entirely within the period during which
the theory of non-diversion was first propounded,
and was most agitated and canvassed ; but
under any circumstances we are at a loss to
understand why England should pay more than
America—one would suppose that their pay-
ments would be much about the same. Per-
haps some acute member of the House of
Commons who has a secretary that can coach
him with the Board of rrade returns, Nl'Culloch's
Commercial Dictionary, and a few other equally in-
structive but distracting publications, will employ
his superior intelligence in questioning the affable
lord who at present presides over English Foreign
affairs, and elicit some explanation of the matter.

AMERICAN MARKE7S.

(From Beldiny, Keith, and Co.'s Circular.)

NEW Yonx, April 17, is our latest by mail. The posi-
tion of affairs there, financially, we report as follows from
the Journal of Commerce:

The financial gentlemen who furnish the bulk of the
capital for the speculators in stocks have just now their
periodical scare about the value of these securities, and
are trying to call in their loans, to obtain better margins,
or to suspend the business indefinitely. This leads to a
remarkable pedestrian activity on the part of those who
carry on the business (if speculation can be called a busi-
ness) with borrowed capital, and some of them make as
good
or any
odtimeon their feet iu search of cash balances as Wes-
tonof his compeers, who have witched the world
with renowned specimens of tall walking. Those in-
different spectators who road of the money-market being
" tight," and of the indisposition of capitalists to lend
upon ordinary stock security, know voly little of the full
manning of these words to one who is carrying a line
of shares with the aid of borrowed money. If any fat
gentleman of our acquaintance desires to reduce his
adipose matter, we can pledge ourselves as to his suc-
cess if he will take a turn in stocks with insufff;ient
means while the market is in one of these transition
stages. Money lenders, provokingly cautious and exact-
ing of wide margins; hours between ten and three un-
usually swift-winged; friends suspicious and reserved in
their offers of aid ; securities on hand always looking out
of the under eyelid ; a self-accusing phantom which is
ever whispering, " How came I to be caught in such a
scrape ?" a tendency to colour all objects within the range
of vision, as if they were seen through glasses of a ceru-
lean hue; these, and other adjuncts of the same unplea-
sant character, render the days of which we are writing a
time of sore trouble to this class of operators.
The demand for money from speculative borrowers
continues active, but there appears to be no unusual in-
quiry for purposes of legitimate business. Call loans are
made upon Government securities at 7 per cent.; but in
many cases an additional commission is paid upon stock
collaterals. The range of discount for first-class commer-
cial paper is 7 to 9 per cent. per annum.
The following is from the circular of Messrs. Henry
Clews and Co. :—ln our last advices we intimated that, in
view of the then diminished resources of the banks, it was
not improbable that the monetary movements incident to
the beginning of April, aided by artificial means, might
induce a stringent condition of the money market. Our
anticipations have been more than realized, for dur-
ing the last four weeks money has exhibited a stringency
which, for severity and persistence, has never been
equalled since 1857. From the 7th of March to the 4th of
April the banks have lost $26,800,000 of deposits and
$5,300,000 of legal tenders, which has necessitated a re-
duction in their loans and discounts of $14,900,000. The
stock of legal tenders in the banks is at present lower than
at any period since the national banking system has been
in full operation, and is $7,300,000 below the amount at
this period of last year, although then the banks had been
subjected to a somewhat severe drain. The following
comparison shows the present condition of the banks,
compared with one month ago and with the same period
of last year :,-
CONDITION OF NEW YORK BANKS.

April 4, 1868. March 7, 1868
Dols. Dols. Dols.
Loans and dig.... 234,288,000 269,136,000 Dec. 14,869,000
Specie... ... 17,097,000 20,714,000 Dec. 3,617,000
Circulation
Deposits 180,936,000 207,737,000 Dec. 26,781,000
Legal tenders 51,709,000 57,017,000 Dec. 5,308,000
April 6, 1867.
Dols. Dols.
Loans and discounts 254,470,000 Dec. 573,000
Specie
Circulation
Deposits
Legal tenders 50,021,000 Dec. 7,312,000
This heavy depletion of the resources of the banks has
been partially due to ordinary movements, more especially
to the wants of the west and south, to the usual April drain
into the interior for settlements on real estate and other
contracts, to the pressing requirements of the public de-
partments causing heavy drafts on the national deposi-
tories, and to preparations for the quarterly statements
of the banks. These movements of themselves, how-
ever, would have produced nothing beyond a tempo-
rarily close 7 per cent. market. The directors of the
Erie Railroad selecte4 this condition of affairs as the occa-
sion for throwing upon the market 100,000 shares of new
stock ; which realized to the company $7,250,000, and to Mr.
Drew, the real purchaser from the company, a still higher
amount. In order to evade legal process and to embarrass
the 491C1M Qi certain stvcko *me ItAild4 ilayo been falcon

out of the City, principally we believe in the form of cu
rency ; and besides this, a large amount of the private
funds of recusant directors were also transferred to Jersey
City ; so that, within the month, probably close upon
612,000,000 of money has iu this way been taken wholly
out of circulation. This too it must be remembered has
been done immediately after the tying up of a considerable
amount of money, under similar circumstances, by the
direction of the Rock Island Company. These operations,
while withholding several millions of circulation, have
added 149,000 shares to the supply of stocks being carried
on the market. Under these extraordinary circumstances,
the wonder is not that money should have been loaned on
good collatorals at 7 per cent. in gold, and even per cent.
per day, but that we have not witnessed a disastrous panic.
The following were the closing quotations at the
regular board compared with those of the four preceding
weeks :

Mar. 27. Apr. 3. Apr. 9. April 17.
New York Central 1191 1221 121 i 1121
Erie
1111418 r-in River l3l 140 141 1251
Reading
MicLigan Southern 811 88i 90' 87
Michigan Central 113 115
Clev. and Pittsb.„ 91 92 .. ... 8711

Cloy. and Toledo.
North-western ~

1031 1041 1('
6o 63

" prcferred 74* 7-1 i 75,1- 70/
Rock Island 921 914 1 95.1- ......
Fort Wayue lO2 991 ..... ~
Illinois Central
Ohio and Miss 291 31 311 304