The Sun.
London, England, 1868-06-03 00:00:00

—had decisively pronounced their opinions against
the Ihipeachment, the public were sensibly im-
pressed. Such men rank their professional repu-
tation higher than any party allegiance, and as
men of high legal knowledge and constitutional
experience they could not bring themselves to ad-
mit the validity of the charges. If we look into
the terms of this eighth resolution, what do we
find ? A tissue of abuse and groundless accusa-
tions. The terms of it might almost apply to the
Radicals themselves, and one might fancy it had
been drawn up in satire. The PRESIDENT is ac-
cused of wholesale corruption by the very men
whose unscrupulous pressure upon the Senators has
been denounced by the more respectable portion of
their own press. He is charged with having
usurped high legislative and judicial functions by
members of that Congress which has arrogated to
itself the power to overturn the Constitution, to
regulate the Cabinet, and to decide upon the con-
duct of the Supreme Court. Most absurd of all,
ANDREW JOIINSON is charged with having persist-
ently resisted every attempt at the recon-
struction of the Southern States by the
party to whom America owes her present
dismemberment and discussion.

But even the Radicals are beginning to acknow-
ledge that the South must be restored to the Union,
and the very first resolution adopted by the Con-
vention declares it to be the duty of the Govern-
ment to prevent those States falling into anarchy.
It has been hinted that the sudden anxiety of
the Radicals for the admission of Southern Re-
presentatives to Congress on the new terms is
dictated by their desire to re-enforce the Radical
party in the Upper House. It has even been said
that the remaining eight Articles of Impeachment
are kept in reserve for the time when the " loyal"
and black voters of the South shall have sent men
of the STEVENS and BUTLER stamp into the
Senate, so that a fresh vial of wrath may
be opened ou the devoted bead of the
man who dared to brave the Radicals. But
this would be too much for the American people,
who are already wearied and disgusted with the
manifest virulence and selfish greed of the prosecu-
tion. ANDREW JOHNSON has never been a very
popular man, not belonging to the class which caters
for the applause of the crowd ; but the feeling of the
country has endorsed the verdict of the Senate, and
any attempt to renew the trial after such a manifest
manoeuvre would produce a popular outburst of in-
dignation.

The Convention has very ingeniously disposed of
the difficulty about negro suffrage, which its mem-
bers knew very well was more unpopular in the
North than in the South. They have resolved that
the suffrage should be equal, but that the question
of the particular conditions or terms on which it
should be held belonged to each State. Reconstruction
is only referred to iu general terms, the country being
congratulated on the " assured success" of the
policy of Congress and " the doctrine of Great
Britain," as it is termed, respecting natu-
ralisation, is emphatically condemned. If the
Chicago legislators had taken the trouble to read
Lord STANLEY'S speech on this very question in the
early part of the present session they might have
spared themselves the trouble of fighting a
shadow.

The financial position of the United States is
becoming so serious and important that we need not
be surprised to find a large proportion of the twelve
resolutions occupied by it. We are very glad that
the Convention has had the courage and the
honesty to declare openly its conviction, that
the national honour requires the payment of
the public indebtedness in the ut.r.o it good
faith to all creditors at home and abroad,
not only according to the letter, but the
spirit of the laws under which it was contracted."
This, it will be seen, refers to the dishonest evasion
which some politicians proposed, by which while
the interest of the debt should be paid in gold, as
was stipulated, the debt itself should be paid
in currency, or paper, now greatly depre-
ciated. Such an unfair interpretation of the
vague wording of the Acts of Congress would be
even more damaging to the national credit than
open repudiation, and the recognition of the na-
tional obligation to keep faith with the national
creditors not only in letter but in spirit does honour
to the Chicago Convention. We wish the mem-
bers could have carried their financial wis-
dom a little further, and have denounced
not as a crime, but as a blunder, those
restrictive laws which press so heavily on American
trade. The sixth resolution declares with great
good sense that the best policy is to improve the
national credit, so that money may be attained at
easier rates than arc possible while repudiation is
talked of ; but the fourth resolution, which declares
that taxation should be reduced as soon as pos-
sible, is less easily obeyed. The high tariff
which interested parties succeed in keeping up, and
even threaten to raise, is a heavy burden to Ameri-
can trade and commerce, which it proposes to pro-
tect; while Chicago, a great commercial centre,
might have learnt from Detroit, a city rapidly grow-
in wealth and importance, the evils which meddle-
some legislation has produced in preventing
the renewal of the Reciprocity Treaty. the
two last resolutions are manifestly introduced with
a view to conciliate the Hibernian heroes, and catch
that Irish vote which has often done mischief
enough in America. Foreign immigration, says
the 11th resolution, should be fostered and encou-
raged by a liberal and just policy ; but the fact is,
that the American working-classes are beginning to
have a little too much of it. The 12th resolution
informs the world at large that the Convention
sympathises with all the oppressed peoples who are
struggling for their rights, including, of course, the
heroes of Clerkenwell and excluding the rebels of
Charleston.

The Standard maintains it is quite too late now
to reopen the question as to the site of the courts.
But, whatever fresh delay such a step may in-
volve, it is absolutely indispensable that there
should be an entirely new competition, the archi-
tects being at liberty, of course, to send in either
their old plans or to alter and improve them as
they think fit. The Po,vt holds that, for aesthetic
reasons alone, there should be no hesitation in
choosing the embankment as the site for the new
Jaw courts ; but what will be thought of those who
obstinately cling to the old idea because it is an
old idea, when the public learn that by taking the
site of the embankment there would be a saving
of nearly a million ? The ground now in posses-
sion of the Government can be sold for its full
value, or even for more than the price originally
paid ; the approaches to the new embankment are
already made to the north and south ; those to the
east and west may be taken out of the length of
1,100 feet, which is more than is required for the
building, and the land and houses can be purchased
for less than £1,400,000. In the face of these
facts can it be imagined that Lord John Manners
repudiates Mr. Cochrane's proposition ? And
why? Not because the site at present determined
on is the best, but because it is a pity to unsettle
anything once arranged, and a change of place
may involve a delay of two or three years. It is
really quite impossible to treat such an argument
seriously. When we are about to spend millions,
when we have spent millions to adorn the metro-
polis, is a delay of two or three
.years worth con-
sidering ?

LATEST INTELL WINCE.

(REUTER'S TELEGRAMS.)

-*.

AUSTRIA.

VIENNA, June 3.

The New Free Press of to-day publishes the
scheme for the reorganisation of the army, which
has been definitely agreed upon by the Govern-
ment, and will very shortly be laid before
the Reichsrath and the Hungarian Diet.
The :chief features of this scheme have
been already publicly stated. The most
important new item has reference to the future
strength of the army, which the Government pro-
poses to fix for the ensuing ten years at 800,000
soldiers, and the entire Landwehr to number
200,000 men. By the adoption of this
scheme the constitutional right of the Reichs-
rath, and the Hungarian Diet to modify
these numbers every year is not prejudiced.
The Government Bill proposes also that, so far as
relates to administrative questions, the Land wehr is
to be placed under the control of the Minister
for the defence of the country, bet the Commander-
in-Chief of the Lanc:wehr will decide all nalitary
questions. In times of war, however, the Com-
mander-in-Chief of the Army will command the
Landwehr. The Minister of War for the Empire
it to be informed at all times of the general state,
the equipment, and changes Of station of the
Landwehr.

THE BOMBAY MAIL.
MESSINA, June 2.
The Bangalore passed Messina at 2 p.m. to-day,
en route for ➢Marseilles.

LIVERPOOL, June 3.

The Inman steamer City of London, which left
New York on the 23d May for this port, brings
£1,000,000 in specie.

BOURSE, June 2.—Th
closed as follows :-
4f per Cent.
End of month —
3 per Cent
End of month 7O 05
Credit Mobilier
End of month 290
Credit Foncier _1542
End of month-.

'ee o'clock.—The market

Bank Shares
Italian Loan —
End of month —
Mexican Loan 21i
Do. Bonds
Spanish Threes
Home Debt
Deferred —
Cash
Orleans
Northern
Lyons and Mediterranean
Southern..... 590

RAILWAY

Western
Eastern

561 f

Sardinian
Austrian .
Lombard
North of Spain
Saragossa
Roman..

431
551+
380
67+
82
42

RAILWAY IN7 ELLIGENCE.

WATERFORD AND KILKENNY.

The half-yearly meeting of this company was
held at the London Tavern on Friday ; Mr. J.
Delahunty in the chair.
The report, an abstract of which appeared in The
Sun, was taken as read.

The CHAIRMAN, in moving the adoption of the
report, said that the affairs of the company had re-
cently progressed favourably, as matters long in
dispute with the Waterford and Limerick Company,
respecting the station at Waterford, and the Great
Southern and Western Railway Company respect-
ing traffic facilities at Maryborough, bad been
brought so far to a conclusion ; but he was in hopes
that through booking and other facilities now with-
held would be conceded by the latter company.
Soon after the directors took the working of the line
into their own hands they found they had enormous
difficulties to contend with. The rolling stock of
the company, which hal been in the hands of the
Waterford and Limerick Company for some years,
had become so depreciated as to have fallen in value
from £15,000 to about half that amount. The per-
manent way had also been allowed to fall into a
bad state, but since the line had come into the
hands of the directors they had obtained £20,000
worth of new rolling stock into good working order.
They had now plenty of rolling stock to work the
traffic efficiently, and they hal commenced the
fishing of the rails, which, with new sleepers, and
other improvements, would add materially to the
stability of the permanent way. The fishing of the
rails would be accomplished at a moderate cost, and
amply repay them for the outlay. The bill before
Parliament would enable the company to dispose
of the rent charge of £l,OOO a year now paid to
them by the Great Southern and Western Railway
Company, and when realised would supply them
with means to pay for the new rolling stock. The
bill would also authorise the company to raise
£lO,OOO on debentures to renew and replace wooden
bridges with iron. The London and North-Western
Company
were now extending their line of commu-
nication to Milford-haven, which would make it
their interest to develope traffic to that place as well
as the Great Western. The Kilkenny Company
was perfectly free to make arrangements with the
English companies for the mutual interchange and
development of traffic by means of steamers. (Hear,
hear.) It would be their duty to declare a dividend
on the preference stock, but the payment of it
would be deferred for a short time until the com-
pany had the funds available.
The motion for the adoption of the report, after
some conversation, was agreed to ; and the divi-
dend at the rate of 2 per cent. per annum on the
preference stock was declared.
The meeting was then made special, and a formal
resolution approving the company's bill now before
Parliament was adopted.

SLEAFORD AND BOURN.
The Board of Trade has declined to grant a war-
rant for the abandonment of this line.

GRIND JUNCTION CANAL.

The half-yearly meeting of this company was held
yesterday at the offices, Surrey-street, Strand ; Mr.
Anderson in the chair.

The report stated that the net receipts for the
half-year ending December last amounted to
£31,042, being a decrease of £2,053 as compared
with the same half of 1866. The generally depressed
state of trade would account for the decreased re-
ceipts. The profits of the company for the half-
year, after payment of the usual interest on the
preference stock, amounted to £22,929. This,
added to the unappropriated balance brought for-
ward from the preceding half-year, amounted to
£27,848. Notwithstanding the depression of trade,
the net receipts of the past half-year would admit
of the same dividend being paid as in the preceding
half-yeai.. It was proposed to declare a dividend
of £2 per share, free of income-tax, on 11,329,
shares original stock, which would absorb £22,658
payable on the 15th inst., leaving a balance of
£5,190 to be carried forward. The works of the
canal were in fair worleng order, and the whole of
the reservoirs were nearly full of water.
The report was adopted, and the dividend re-
commended was declared.

The proceedings concluded with a vote of thanks
to the chairman.

LIFE BRIGADES.—Captain Robertson, R N., of
the Board of Trade, has just completed his annual inspec-
tion of the Voluoteor Life Brigades on the north-eastern
coast, established for the rescue of shipwrecked seamen:
The corps are composed of young men of all classes of the
community, and have been found in a high state of effi-
ciency. The Tynemouth, South Shields, and Cullercoats
Life Brigades have clubhouses admirably fitted up, and
compt3te arrangements are made for the reception and
restoration of shipwrecked men immediately they are landed
from wrecks. The movement was commenced at Tyne-
mouth a few years ago, and is gradually extending to other
large seaports and fishing villages. It has the hearty sup-
port and co-operation of the Board of Trade.
EXCLUSIVE. VERY IMPORTANT, RARE, AND VALUABLE
are the properties of Lamplough's Pyretic Saline, curing the
worst headaches, sickness, skin, or binary affections. Pleasant,
palatable, and invigorating. Sold by all Chemists.—EAdyt.l