The Sun.
London, England, 1868-02-12 00:00:00

The Reconstruction Committee have even agreed
to report a bill to deprive the Supreme Court
of jurisdiction over cases arising from the execu-
tion of the Reconstruction Act.

The Democratic party openly accuse General
Grant of duplicity towards the President in the
Stanton affair. He is said to have promised either
to retain the office or to tender his resignation
in time for Mr. Johnson to appoint a successor.
On the 14th of January, after Mr. Stanton
took possession of the War Office, the General
was present at a Council of the Cabinet, when the
President asked him why he had not redeemed his
promise. Grant became confused, and deprecat-
ingly urged that late on Monday, after examining
the Civil Tenure Act, he saw he would become
liable to a fine of $lO,OOO and two years' imprison-
ment. The President observed, " You knew this
before, and cannot have forgotten my assurance
that I would assume all the penalties ;" but the
General very properly replied, that one man could
not assume the penalties which another incurred by
a breach of the I.tw. The National Intelligencer
next day published the agreement said to have been
entered into between the General and the President;
but it was contradicted by the friends of the former.
At a subsequent meeting of the Cabinet, Mr. John-
son asked the secretaries to state what took place
on the 14th. Messrs. M'Culloch, Browning, Welles,
and Randall, certified to the correctness of the
Intelligencer's report.
Last week we gave a sketch of the new line pro-
posed for the Kansas Pacific Railroad, branching
from Pond Creek, through New Mexico, Arizona,
and California. We regret to learn that the peti-
tions in the Missouri Legislature for a memorial to
Congress in aid of this project are opposed by the
interests in the south-western portion of the State,
on the ground that it will hinder the development
of railroads in that section.

News was received at Hong Kong, Jan. 15, that
the ports of Hiogo and Osaka, in Japan, had been
opened to foreign trade without difficulty.

NEW YORK MARKETS.

(From the Correspondent of the Anglo- American Times.)
NEW YoRK, Jan. 25, 1868.
Our Money Market here continues much the same as
that reported from London—an immense amount of unem-

ployed capital, low rates of interest, and difficulty in ob-
taining accommodation, except on the best security. Four
to five per cent is the rate on Governments, five to six on
stocks, and six to seven on discounts of first-class paper.
Nor is there much prospect of immediate change, though
the spring trade may be expected to create a demand and
raise the present low figures. At Boston the rates are as
easy as at New York. Gold has been steady at about 140,
closing yesterday at 1401 having touched 1401. Only
$150,000 have been exported this week, while the Cali-
fornian steamer brought in $958,615 in bullion. The ex-
ports since the Ist July amounted to $33,498,217, against
$18,493,312 ; the imports at New York within the same
period were $17,413,017 against $26,027,368. ' The
Customs received at New York in gold during
that period were $60,467,133 against $68,011,505,
while the gold interest paid out was $44,530,019
against $33,436,463. The exports, exclusive of specie,
from New York for the week and year were $3,678,601

against $2,724,291, and $10,091,381 against $10,697,573.
The imports for the week were $3,587,491 against
$3,456,063 in the previous week, and $3,095,642 in the
week before that, and for the year $7,043,551 against
$11,291,547. While the exports for the six and a half

months since the Ist of July last have fallen off in currency
value only $4,665,000, as compared with the same six and a
half months last year, the imports for the same time have
fallen off $25,168,000, specie value—a decided change for
the better. In December the Pittsburg, Fort Wayne, and
Chicago Railroad earned $139,652 against $83,420, and in
1867 $2,373,114 against $2,319,531. The profits of the
Reading Railroad in 1867 were $2,840,062 against $4,164,072
—a falling off of $1,324,010.
Railway Stocks are very active, and business is large at
higher prices, particularly in Reading, New York Central,
Erie, Cleveland and Toledo, Rock Island, and Ohio and
Mississippi. The favourite was New York Central,
which reached the highest point attained for many years
—l3l. The advance of Government Securities has been
satisfactory. The general idea is that the movement will

be upwards, and those who have money to invest are
doing so now. A letter has been published from Mr.
M'Culloch, transmitting a statement of. the purchases in
1867 of Seven-thirties and the sales of United States Five-
twenties of 1865-1867, in reply to a resolution of inquiry
on the subject by the House of Representatives. On the
Ist of January, 1867, the Government's gold-bearing debt
was $1,400,490,742; January 1, 1868, it was $1,890,102,092,
showing an increase of $489,612,350 during the year, of
which $460,011,750 are accounted for by issues of new
Five-twenties. Of Seven-thirties there were outstanding
—January 1, 1867, $676,856,600 ; January 1, 1868,
$238,268,450, making the decrease $448,580,150. Sub-
tracting this sum from the increase in Five-twenties, we

have $41,024,200, the excess in funding during 1867. The
funding of the Seven-thirties began in April, 1866, since
which time they have been decreased only $578,745,550,
while the gold-bearing portion of the public debt has
been increased $709,865,750. In other words, instead
of an aggregate debt of $1,997,250,342, which we
had April 1, 1866, we now have $2,128,370,542. The
last of the Seven-thirties fall due in July, and
it ought not to be long before the debt shall be
so much reduced that it will be two thousand millions, all
bearing gold interest, which would then amount to
$118,000,000 annually. Among the investments now se-
lected are the Union Pacific and Central Pacific Railroad
Companies, which promise large returns. Pacific Mail
has advanced to 1111 to 111 k, and steamship stocks are
active. Tyler, M'lnnes, and Co., extensive wool dealers
at Boston, have suspended with liabilities reported at
$200,000. The New York market for dry goods is better,
showing signs of further improvement, though foreign
goods remain stagnant. The sales of the leading dry
goods firms of New York, for the last eight months, were
as follows:-1L B. Claflin and Co., $30,700,000; A. T.
Stewart and Co., $21,300,0 ,0 ; E. S. Jaffrey and Co.,
$3,900,000 ; Lathrop, Ludington, and Co., $5,000,000 ;
Anthony and Hall, $4,100,000 ; George Bliss and Co.,
$5,600,000 ; George A. Wickes and Co., $3,000,000 ; S.
B. Obittenden and Co., $3,000,000 ; W. J. Peake and Co.,
$4,600,000; Gardner, Brewer, and Co., $4,800,000; boit,
Sprague, and Co., $5,200,000; Benkhard and Hutton,
$3,500,000. Cotton is at present quite steady ; the re-
ceipts at all the ports in the.country, last week, were 70,822
bales, making the aggregate since Sept 1, 1867, 1,025,937
against 881,851, an excess this season over last of 137,086
bales. The exports were 53,539 against 49,701, and the
total foreign exports from the United States since Sept. 1,
1867, now reach 542,161, against 376,834. The stocks at
all the ports in this country are at present 864,074 bales
against 556,150.

(From the Wall-Street Journal.)
NEW YORK R XTES OF EXCHANGE,

Corrected by W. Aufermann, 68, Exchange-place, N.Y.
Sixty Days, Three Days.
London Bankers
London, Prime Commercial lOB4--109fr
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 36 36i
Frankfort, 0.11. 4oi-41
Berlin and Cologne
Antwerp 5.21i-5.te4
Amsterdam, Bankers
Swiss

Closing Prices, Friday, Jan. 24.
PUBLIC FUNDS.-Sixes, 1868, registered, 138 to 1381 ;
Sixes, 1868, coupon, 110} to 111; Sixes, 1881, coupon,
110} to 111; Five-twenties 1862, coupon, 110} to 111;
Five-twenties, 1864, coupons, 1081 to 1081 ; Five-
twenties, 1865, coupon, 1091 to 1091 ; Five-twenties,
1865, coupon, new, 107 to 107}; Five-twenties, 1867,
coupon, 107 to 107/ ; Ten-forties, coupon, 1031 to 103/ ;
Seven -thirties, 2d series, 107 to 107/ ; Seven-thirties,
3d series, 107 to 1071
RAILROAD MORTAGES. -N. Y. Central 6s, 1883, 921 ;
do. 1887, 92/ ; do. R. Est, 87 ; do, Sub'n, 87 ; do.
6s, 1876, 103 ; do. con. 76, 128 ; do. '65-76, 1281 ; Erie
Ist mort., 1867, 1021 ; do. 7s, 2d mort., 1879, 103 ;
do. 3d mort., 1883, 981 ; do. 4th mort., 1880, 90 ;
do. sth mort., 1888, 89 ; Long Dock Bond, 97 ;
Buff. N. Y. and E. Ist M. '77, 91 ; Hud. R. 7s, Ist M.,1869,
1021 ; do. cony., 1867, 102 ; Harlem 3d mort., '6B, 100 ;
Mich. C. 8 per cent., '69 '72, 1071 ; do. new Ist M. Bs, 'B2,
110 ; do. So. 7 p. ct., 2d M., 921; N. Ind. Goshen Line, '6B,
90 ; Mich. S. and N.I.S. F'd, 7 p. ct., 98 ; 111. Con., 7 p. ct.,
1870, 115; Alton and T.H. Ist M., 93; do. 2d pfd, 85i; do.
M. Inc., 80 ; Chi. and N. West, S. F, 87 ; do. In't B, 85 ;
do. Ex'n B, 85 ; do. Ist M, 871; Del. Lack. and West'n Bds,
97 ; Tol. and Wab. Ist M, 901 ; Gt. Western 2d M. '93, 69 ;
Mil. and Pr. du Ch. Ist M, 98 ; Gal. and Chic. Ext., 100 ;
do. and Chic. 2d M, 97 ; Chi. and R. I. Ist M, 100 ; Cleve.
and Tol. S. Fund, 100 ; N. J. Central 2d mort., 101 ; Pitts ,
Ft, W., and Ch. Ist M, 102 ; do. do. 2d M, 971 ; do. do. 3d
M, 88 ; Cleve. and Pitts. 2d NI, 97 ; Chic. and Alton, S. F.
Inc., 93 ; do. do. S. F. Ist M, 100; Mil. and St. Paul 21
NI, 79 ; Marietta and Cin. Ist M, 86 ; Joilet and Chic. Ist
NI, 100 ; Chi. and Gt. East'n Ist M, 72 ; N. Y. and N.
H. 6s, 96; and Dubuque and S. City, Ist M, 821.
RAILROAD AND MISCELLANEOUS STOCKS.-N. Y. Cen-
tral, 131 i; Erie, 75 ; Hudson, 145; ; Reading, 951 ; Mich.
Southern and N. 1., 89 ; Illinois Central, 1321; Cleve-
land and Pittsburg, 961; North-west, 601 ; North-west
Preferred, 731 ; Canton, 581'; Rock Island, 961; Cleve-
land and Toledo, 1101; Fort Wayne, 1041 ; Pacific Mail,
1101 ; Atlantic Mail, 971; Quicksilver, 271 ;W. U. Tele-
graph, 371 ; Mariposa Preferred, 14 ; Ohio and Miss.
Certificates, 331; Boston Water Power, .20; Cumber-
land, 33i. •
• Elaugs pToClis.-Adnao, 781 to 79; Amorioan, 741