The Sun.
London, England, 1868-01-25 00:00:00

was increasing, more mutinies had occurred, and
there was now a probability of a general outbreak
against the Government of Juarez, headed by a
leading military chieftain. Juarez had been in-
augurated at an extraordinary session on Christmas
Day, and delivered an address we have before
alluded to. The Treasury was empty, and Signor
Jose Maria Iglesias, evidently not relishing to pre-
side over empty coffers, had resigned. Brigandage
was increasing, and the robbers, not finding their
prey so plentiful on the road as they desire, are
acting on the maxim of going to fetch that which
will not come. They have taken to kidnapping,
and were carrying terror into the hearts of the most
peaceful citizens, who at least hoped for safety by
remaining at home. Senor Morales was carried off,
and compelled to pay a ransom for his life of $6,000.
Congress was considering the evil, and had promised a
remedy at which the brigands may well laugh. The
English Legation had left the capital for Vera Cruz
on the 30th December, where the gunboat Jason
was awaiting them. She arrived on the 10th inst.
at Havannah en route fur Lon lon, via New York,
with all on board.

Susan B. Anthony has taken another long step
towards the goal she strives for—Woman's Rights.
She has established an organ for the Female Suf-
frage Society in New York, named The Revolution,
and gives an amusing account of her interviews
with the most prominent citizens when soliciting
their support. The President at first bluntly refused,
having more papers than he could read, and receiv-
ing a thousand such applications every day. Susan
replied, "You never had such an application iu your
life. By means of The Revolution we will drive the
Republican party to logical conclusions, or break it
into a thousand pieces unless we get our rights." An-
drew Johnson immediately" forked out," unable to re-
sist the idea of smashing up the Radicals. Mr. Seward,
as usual for those he avoids, was " not at home."
Mr. M'Culloch said " No" emphatically, as did
Senator Chandler. Senator Sprague did not believe
in woman suffrage—" the sex" were difficult enough
to manage as it was; Senator Sumner fully sub-
scribing to this after his own sad experience, posi-
tively refused to be seen. On the other hand,
Senator Wade gladly aided a noble cause, as did
Senators Pomeroy, Anthony, Howe, Henderson,
Nye, and Drake. Senator Wilson subscribed,
although he believed that the leaders had done much
to block Reconstruction.

On the meeting of the Senate on the 6th inst.,
Mr. Reverdy Johnson brought up the question of
the admission of Mr. Thomas as Senator for Mary-
land. This led to a debate, in which Senators Ed-
monds, llowe, Johnson, Howard, and Trumbull
took part ; but nothing was done. The charge
against the Senator elect for Maryland, of having
aided Cobb in putting the Government credit in
peril, was successfully rebutted. But the main
part of the discussion was in reference to the charge
of disloyalty, particularly in having aided the rebel
lion by furnishing his son with money to pay his
way in joining the Confederate army. The young
man insisted upon entering the Confederate service,
and his father, unable to control the decision, gave
him a hundred dollars to guard him against starva-
tion on the road. The discussion turned on the
point of the father's motives in advancing the
money—a nice question, and one difficult for such a
tribunal to decide.

The Danish Government has laid on the table of
theßigsrad the result of the plebiscitum at St. Thomas
and St. John. 1,244 votes to 22 have been recorded

in favour of the cession of the two islands to the
United States.

We give the following interesting grain receipts,
which we have received from an official source, for
1867, from January 1 to Dec. 21, for the ports of
Toledo, Detroit, Cleveland, Milwaukie,and Chicago :
—Flour, 3,675,126 barrels ; wheat, 29,256,227 ;
corn, 31,388,516; 0at5,14,315,591; bar1ey,2,911,043;
rye, 1,698,366.

COMMERC [AL.
(From Messrs. Belding, Keith, and Co.'s Circular.)

FRIDAY, Jan. 24.

American Securities hare been in greater demand during
the past week, with an upward tendency. 5-20 Bonds, 1882,
have continued about the same iu this market, varying with
the cable quotations of gold from New York, and open this
morning at 714 72, or the same as last Friday. In Now York
they have steadily advanced, although the price of gold
nas with slight variations risen one per cent. ; 5-20's of
1885 follow those of 1882 at a difference of ono per cent. ;
IC-40 Bonds, 1901, have continued at 674 681, daring
nearly the whole week, rising on Wednesday to 68 684 ;
they open this morning at 674 684, au advance of
per cent. Illinois shares open at 85 86, an advance
of one per cent. Erie shares have boon steady at
48 49, or about the same as last week. The
demand for Atlantic and Great Western Debentures
and Consolidated Mortgage Bonds has continued ; the
former open this morning at 24 25, the latter, after touch-
ing 26 on Monday, or one per cent. above the quotations
for Debentures on the same day, open at 24 25. The New
York and Peru Ist and 2d Mortgage Bonds of this railway
have also been dealt in to a considerable extent, having
risen fully five per cent. during the week.
Messrs. Belding, Keith, and Co., in their circular of the
21st inst., remark as follows on the national debt of the
United States:—" To illustrate, as seen from our view, it
looks thus the United States Government owe, say,
$2,000,000,000, 500 millions of which is held in Europe.
The American holders bought at par—many of them at
10 per cent. to 15 per cent above par. The Europeans
bought at a discount, according to the price of gold at
the time, believing that gold would go lower, and
they would be gainers thereby ; and any material de-
cline in gold must be allowed by an equivalent fall in
bonds ; or, by means of the cable (by which a mar-
gin of a half to one per cent difference pays to ship
either way), European holders will realise—not all, but
always enough to run up gold or run down bonds, thus
overloading American holders of bonds, and depleting the
market of gold before there is enough to resume specie
payments. What will put a stop to this? What means
is there by which the country can secure a breathing time,
and rest sufficiently to carry the burden of all its bonds on
a gold basis? To us the means seem plain. We believe
a twenty year Six per Cent. Loan for 500 millions of
dollars, issued at par in gold, interest and principal
payable in gold in London at 4s. or 4s. 2d. (i.e.
at the same rate as issued) per dollar, and not
payable elsewhere, would be a means of taking up
the 5-20's hold on this side, and thus placing the coun-
try in gold to resume specie payments. Being pay-
able only here, they would not be shipped backwards and
forwards, thus reducing the floating bonds to State and
railway bonds dealt in, which will be quite enough to work
all the changes desired in exchange. To leave it otherwise
is to always be over-flooded on a decline of gold, for if a de-
cline of gold of 5 per cent. takes only $1,000,000 over, it
does not follow that a decline of 10 per cent. would only take
over s2,ooo,ooo—but probably it is safe to count it in
a geometrical proportion of 10 —and to-morrow nine-
tenths of all the bonds in Europe would go back if the
holders could realise 10 per cent. on them more than the
present price. This, or anything like one-half of it, all
very well know is impossible for us to take, and would, if
done, at once put gold to war figures.
" Now, is it best, is it wise, to work against such a state
of things in this way ? Is it not by far better to say, We
owe you, we cannot pay you now, but give us time and a
little more gold, and we will pay you gold for gold,
and 6 per cent. interest. With bonds thus issued those
now out could he redeemed as fast as practicable at
market rates, which would be far below par for a long
time, thus cancelling them, getting more gold, and five
years or less extra time in which to work out and pay off.
As to the rate per cent., some may say, Is it not too much ?
To this we would say, We believe it is not, and that bonds
at any less than that would not go at par. A 5 per cent.
might sell at 85, but a 4i per cent. would not at over 75
to 80; and if ever a full round 100 was wanted for bonds,
it is and should be now-100 received for 100 to be paid;
and 6 per cent. and nothing loss, in our opinion, will com-
mand it.
" Such a plan seems to us the best for the true interests
of our country, and we think will be found on careful
study to recommend itself to all who wish to see it again
on a sure basis advancing in wealth and universal pro-
sperity.
We notice that some parties have objected to such a
course because of the great advantage such an arrange-
ment must give to any house having the sale of the bonds.
We do not see that any loss need be sustained by this, for
the Government can sell exchange as well as gold, and
have all the advantage thereof."
We trust and believe some plan will be devised by
which the holders of bonds in Europe will be freed from
any apprehensions as to their payment, whatever may be
the political complications arising from time to time in the
States— a matter which we consider of even greater im-
portance to the States than to the holders of bonds here.

(From E. F. Satterthwaite and Co.'s Weekly Circular, Jan. 22.)
By the Scotia we have our usual advices from New York
to the 7th inst. Government Bonds were all strong and in
good demand, especially the 10-40 Five per Cents., which had
advanced one per cent. In Railway Stocks wo have to
note an improvement in Hudson River and Pennsylvania.
Rock Island at ono time declined on an injunction granted
by the Supreme Court, restraining the directors from trans-
ferring in the couvany'a books the large amount of stock