The Sun.
London, England, 1868-12-23 00:00:00

of virtual retirement, Mr. JOHNSON closes his term
'of office by a manifesto which is as offensive as it is
useless. He condemns the policy which the great
majority of the American people has just confirmed.
The nation has supported the course taken by the
Republicans in the South, but the PRESIDENT asks
that this policy be reversed. The unquestionable
disadvantages and dangers of Reconstruction have
been braved for several years, and the people, after
this long experience of a difficult and hazardous
remedy, has decided that it is the only one to meet
the case. The majority of those who consider the
evils of the system to be hardly compensated by its
benefits would scarcely venture to suggest a change
now. Reconstruction has been firmly established ;
it has achieved in part the work of preserving the
integrity of the Union, and yet admitting the
Southern States to participation in the Government;
and, above all, whilst the good results of the South
are now manifesting themselves, its evils have in
great measure been overcome. But Mr. JOHNSON
attributes to Reconstruction all the calamities which
have befallen the country, and demands that all the
labour of the last four years be thrown away, that
the country revert to the position it occupied just
before the war, that, in short, the policy of the
American nation be sacrificed to the policy of a retiring
President.

MR. AMPHLETT ON PUBLIC AFFAIRS.

'The Conservatives of Brornsgrove have given a public
dinner to celebrate the return of Mr. Amphlett. The hon.
member made a speech on the occasion, in which he
thanked the electors for the support he had received at
the late election, and in referring to public questions ad-
mitted that a large majority had been returned to Parlia-
ment in favour of Mr. Gladstone's views on the Irish
Church question. He believed that Mr. Disraeli had
acted in accordance with the spirit of the Con-
stitution in resigning at once, and in not putting
any obstacles in the way of his successors.
Mr. Amphlett referred to the mode in which the majority
bad been obtained, and contended that the whole scope
and extent of the Liberal policy respecting the Irish
Church had not been put before the country. He declared
that a great distinction existed between the terms of dis-
establishment and disendowment, and that the Opposition
possessed strong vantage ground by this means. The
hon. member did not believe that the House of Com-
mons would deprive those places in Ireland of their
ministers which were Protestant, and the Opposition, if in
a minority, could do much in this respect. In conclusion
Mr. Amphlett expressed his belief that Mr. Gladstone
would modify his views when he came to consider the
Conservative tendency displayed in the late general
election by the important English counties. At any rate he
would find great disfavour with the people of this country
if they saw their wishes disregarded to suit the Scotch and
Irish majorities.

The Message is an insult to Europe as well as to
the people to whom it is addressed. The last act of
Mr. JOHNSON'S Presidency is to advocate repudia-
tion by a scheme which is more foolish and impracti-
cable than any that has yet been put forth. At a
time when the Legislature has most emphatically
declared that all forms of repudiation are odious to
the American nation, Mr. JoHNsoN deliberately
recommends a proposal which betrays alike
the most astonishing ignorance and want of
honesty as a statesman. He believes that the in-
terest of the debt ought to be employed to pay off
the principal. The bondholders have already
received several years' interest at a high rate :
this ought to suffice for all recompense.
For the future the interest should be paid, but it
would go towards the liquidation of the principal,
which would thus be cleared off in less than seventeen
years. This is the retiring PRESIDENT'S scheme, the
admirable simplicity of which amounts to this: that it
is just and honest dealing to borrow money in a lump
sum, and repayit in instalments without compensation;
and that bargains made by a State can be altered by
an expedient which would be simply an act of fraud
in an individual. It is merely characteristic
of Mr. JOHNSON that he should wait for the resolu-
tion of the Legislature before bringing forward
a scheme in direct opposition to it. But that
he should offer to a great nation a project
of such studied absurdity would be incredible
were it not before us in the plain language of the
Message. It is not surprising that the senators
should have trampled the document on the floor of
the House in their indignation at such an attempt to
vilify the noble sentiment of their resolution.

LATEST INTELL (ONCE.

(REUTER'S TELEGRAMS.)

AUSTRIA.

VIENNA, Dec. 23.

It is stated that in consequence of a proposal
made by Russia, and supported by Prussia, a con-
ference will probably be held for the :purpose of
preventing a conflict between Turkey and Greece.
Austria is inclined to agree to the proposal, and it
s not unlikely that Italy will also consent, though
whether the same views will be held by the Western
Powers and the Porte is not yet postively known.

INDIA, CHINA, AND AUSTRALIAN MAILS.
MEssINA, Oct. 23.

The Peninsular and Oriental Company's steamer
Massilia passed through the Straits of Messina at
6.30 this morning, en route for Marseilles.

QUEEN STOWN, Dec. 23.

The National Steamship Company's steamer
France, from New York, arrived off this port at
five o'clock this morning. She landed passengers
and proceeded for Liverpool. All well.

FRANCE.
BOURSE, Dec. 22.—Three o'clock.—The market
closed as follows :

4i per Cent.
End of month —
3 per Cent
End of month 69 65
Credit Mobilier 287 50
End of month '2B3 75
Credit Foncier 1530
End of month —

Bank Shares 3160
Ital'an Loan
End of month —
Mexican Loan 23 75
Do. Bonds
Spanish Threes
Home Debt 3O
Deferred
S. Cash
... 910
3200

RAILWA'

Orleans ,
Northern

Lyons and Mediterranean
Southern..... 6?21
Western
Eastern • • 5574
Sardinian
Austrian 645
._ _

Lombard
North of Spain
Saragossa
Roman

LIFEBOAT SERVICES.

HOLY ISLAND, NORTHUMBERLAND, Dec. 21.

A gale sprung up to-day from the south-east
(says R. A. Wilson, Esq.), and one of the fishing
cobles which had gone out early this morning had
to return. On reaching the bar the sea ran very
heavy, and the other fishermen seeing the imminent
danger, the men ran immediately, launched the
Grace Darling Lifeboat, of the National Lifeboat
Institution, and with her assistance the coble and
two men were happily brought into harbour in
safety.

LOWESTOFF, Dec. 22.

Last evening information was received at Pake-
field that two brigs and a barque, now ashore in
Pakefield Gateway (reports Mr. Henderson, the
officer of the Coast Guard). The lifeboat Sisters,
belonging to the Lifeboat Society, was got ready,
and a messenger sent to Lowestoft for the steam
tug to tow the boat to windward, it being an ebb
tide, but by the time she had reached there the
crews of the two boats had landed in the harbour
and reported that the barque was still aground.
The Pakefield lifeboat went out in tow of the
steamer to the assistance of the last named vessel,
aud, skirting the edge of the Newcome Sands, she
arrived in the Gat and was cast off. She then com-
menced her search but was unable to discover any-
thing but the wrecks of the two brigs, and she there-
fore returned to her station. The barque is sup-
posed to have extricated herself from her perilous
position and proceeded northward. The two
wrecked vessels were colliers ; one was The
Favourite, of Blyth, bound thence to Boulogne,
and the other the Adventure, of Sunderland, on a
voyage from that port to Mayenne.

MADAME TUSSAUD'S.—The approaching Christ-
mas holidays will doubtless attract, among the foremost of
the many amusements, numerous visitors to the renowned
and great exhibition in Baker-street, whore the mind and
intellect may not only be highly benefited, but a most
pleasant hour be profitably employed in witnessing the
thousand-and-one objects, which cannot fail to produce a
pleasing effect on all who may honour Madame Tussaud's
exhibition, in Baker-street, with a visit on, not only Box-
ing-day, but during the period of the Christmas holidays.
Her Majesty's unarmoured screw frigate Are-
thusa, 35, 3,141 tons, 500-horse power (nominal),
Capt. Robert Coote, arrived at the Nore yesterday,
from the Mediterranean, on the completion of her
period of commission, and saluted the flag of Vice-
Admiral Sir Baldwin W. Walker, K.C.8., Naval
Commander-in-Chief, which was returned from the
Formidable, flagship.
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TUE SUN, LONDON, WEDNESDAY EVENING, DECEMBER 23, 1868.