The Sun.
London, England, 1868-09-12 00:00:00

THE SUN, LONDON, SATURDAY EVENING, SEPTEMBER 12, 1868.

THE COMING ELECTIONS.

I is curious and instructive to observe the
character of the electioneering addresses which
are now beginning to inundate the country.
In the vast majority of these appeals to the
new constituencies, the religious question comes
uppermost. The principle of establishments,
the Irish Church, Protestant ascendancy, "no
Popery," and justice to Ireland, are the sub-
jects discussed. No one pretends that party
spirit has not much to do with the question
at issue between the two parties. The dis-
establishment of the Irish Church is a party
question, and mere politicians, whether Catho-
lic or Protestant, will vote with their party; the
Tories, following Mr. Disraeli, uphold the Irish
Church; the Liberals under Mr. Gladstone's
lead, are for disestablishment. The political
defenders of the Irish Church make use of the
"No Popery " cry as a weapon of defence,
and endeavour to make it appear that Mr.
Gladstone, in disestablishing the Irish Church,
is seeking to set up the Supremacy of the
Pope against the Supremacy of the Queen.
But putting aside mere politicians, whether
Catholic or Protestant, for every one can esti-
mate their conduct at its value, there are many
men who act on principle, and whose votes,
when the question comes to be decided, will be
influenced by religious motives, or reasons of
high policy. These motives and reasons are
worthy of examination and discussion.
We fully concur in principle with those
who defend Church Establishments both on
religious and political grounds. It is a benefit
to the Church and to religion to receive the
public recognition and homage of a nation, and
it is of immense service to the State to act in
conjunction with and in obedience to the
Church in all matters appertaining to the
moral and spiritual interests of the nation.
But the Irish Church answers neither of these
purposes. Besides being a heresy founded by
violence and injustice, it is at war with the
religion of the nation ; and as it receives no
homage from the people, its establishment is
of no service but quite the contrary to the
State. To uphold it is to uphold Protestant
ascendancy in a Catholic country. Many,
however, conscientiously uphold it because
they believe that to impose by force Protestant
ascendancy in a Catholic country is not an act
of injustice, but a religious duty ; but they are
equally prepared, if they had their will and
the power, to suppress Catholicism by the
sword. Of men such as these, is the non-poli-
tical section of the Orange and Protestant
ascendancy party composed, but they form
a small minority ; honest it may be, but blind
and deaf as bats and adders.

Others again support the Irish Establish-
ment because it exists. They ould not
have established it by violence; they would
not wish to establish it now if it were not in
existence ; but they do not like to destroy
it because it is an institution, although an
unsatisfactory one. To root it out now, seems
to them to partake of the nature of a revolu-
tion. They overlook the fact that to perpe-
tuate an injustice is the sure way to produce,
first alienation, and then a revolution. Others
give their aid to the Irish Church because
it is the Church of the rich and influential, and
of those well affected to England. But what
policy can be more short-sighted than to favour
the rich few at the expense of the vast masses
of the people ? What more likely to create
disaffection to England than such an immoral
policy ? Others lay great stress on the argu-
ment that to disestablish the Irish Church is
to endanger the English Establishment, and
to call in question the principle of Church
Establishments altogether. We confess that
there is some weight in thia.argument, for to
disestablish the Irish Church will undoubtedly
direct such critical attention to the English, as
may sooner or later lead to its disestablishment
also. But whose fault is that but the original
wrongdoer's ? It is one of the penalties of the
crime of injustice that it often entails its own
punishment. But to perpetuate the injustice
in the hope of escaping the punishment is a
still graver fault. That the principle of Esta-
blishments should suffer in public estimation
cannot be wondered at, for the public now see
that the grossest injustice has been inflicted
in Ireland in the name of a great and sacred
principle. But, again, whose fault is that ?
Not the fault of those who seek to repair a
long-standing injustice, but of those who
inflicted it.

If, however, there is a great variety in the
motives and reasons of those who support the
Irish Establishment, we rejoice to see, as we
expected, the perfect unanimity, in the
addresses of the Catholic candidates, in
declaring their determination to vote for the
abolition of the Irish Church. There is no
attempt even at a subterfuge, no pretence that
Mr. Disraeli is just as ready as Mr. Gladstone
to do justice to Ireland in the matter of the

Irish Establishment. Not one of the numer-
ous Catholic candidates has even so much as
hinted that Mr. Disraeli would prove to be as
great an opponent as Mr. Gladstone to Pro-
testant ascendancy, or that Catholics might
fairly and justly support Mr. Disraeli. The
issue put has been clear and distinct as day-
light: Mr. Disraeli and Protestant ascendancy,
or Mr. Gladstone and disestablishment of the
Irish Church ?
The notion had been industriously put about
that the priests of Meath were indifferent about
the disestablishment, and would prefer a land-
bill, such as Mr. Disraeli promised, to the
return of Mr. Gladstone to power and the
thorough emancipation of Ireland from Pro-
testant ascendancy. Some expressions which
had been used by the clergy of Meath some
years ago had been exaggerated and perverted
into a meaning which the priests of Meath,
without an exception, assembled in formal
meeting, now repudiate as a calumny on their
Catholic principles. We rejoice at this decla-
ration of the Meath clergy ; not that we ever
doubted of their abhorrence of Protestant
ascendancy, but because it shows the unani-
mity of the Catholic people and priests of
Ireland, and because their names have too
often been made use of in England as the
names of men whose sympathies were in favour
of the supporters of the Irish Establishment.—
Westminster Gazette.

MISCELLANEOUS NEWS.

(From the Anglo-American Times.)

of China, and the men who opposed emancipa-
tion in the West Indies, but he looks for eventual
triumph, as it is founded in right and justice. An
English paper says that the extension of Chinese
law over Europeans in China may create some cu-
rious positions. For instance, they may be sum-
moned to sit on a jury, and if unable to agree, the
law provides that the jurors are to be flogged with
bamboos all round till they decide on a verdict.
How Mr. Burlingame would like this, we have yet
to be informed ; but perhaps he thinks such a
case could not occur among so enlightened a
people, whose principal encyclopalia, he tells us, em-
braces over 5,000 volumes, and who have more
books, encycloprelias, pamphlets, magazines, &c.,
than any other people. Before the Embassy left
America they were cheered by a despatch announc-
ing the total defeat of the rebels who had menaced
Peking, in a great battle wherein the Government
troops were assisted by European officers and engi-
neers. Mr. Burlingame's celestials are followers of
Confucius, and not having a Buddhist or a Taouist
among them, there are no idolaters in the Embassy.
Confucius taught only man's duty to man, not to
God. One of the interpreters was taught English
by the Rev. Dr. Martin, an American missionary,
last year created by Imperial decree a Professor of
the new Peking University.
There is a strong movement in favour of a Sep-
tember session of Cungress, and the opinion begins
to prevail that a quorum will assemble on the 21st.
The first pressure is from Mississippi politicians
who want to be installed ; second, from those in
Virginia who want all who are ineligible for office
under the 14th Amendment turned out to make
room for them ; and, third, from the lobby at
Washington, which has schemes it is anxious
to start, and arrangements for offices which need
confirmation. The last class are of the three the
most active. The Militia and State Police Bills
passed by the Southern Legislatures are of no avail
without arms, which Secretary Schofield declines to
furnish. The example of the President is also catch-
ing, and the position at Washington is being re-
enacted in some Southern States, where the Legis-
latures are at variance with the Governors.

Secretary Seward, in accordance with an in-
formal vote of Congress, has entered into negatia-
tions with Mr. Thornton, the English Minister, for
a new Reciprocity Treaty with Canada. It will be
based on the old Treaty, will soon be transmitted
to the British and Canadian authorities, and will
be ready for Congress to ratify in December. It is,
however, uncertain whether events in Nova Scotia
may influence the result. Nova Scotia's real grievance
is the abrogation of this treaty. If the United
States refuse to renew it, the colony will go for
annexation to the Republic. The special corre-
spondent of the New York World ha 3 been travel-
ling through the province, and declares that the
feeling of the people is not alone against the Con-
federation, but for annexation to the United States.
No doubt those he met had a pleasant way of being
agreeable to strangers, and shaped their conversa-
tion to suit the views of the World. But the fact
is that the port of Halifax would be a valuable ad-
dition to the Union—indeed, so valuable in the
hands of the Republic as to damage the trade of
New York. Although important to the Confedera-
tion Nova Scotia is worth little to England, and
as inhabited by colonists loyal to their fatherland
it would perhaps be of more benefit to this empire as
a State of the Union than as a province of Eng-
land. The joint opinion of Sir Roundell Palmer and
Mr. Vernon Harcourt has been laid before the Pro-
vincial Assembly, to the effect that the Union Act
might be repealed, but was legally valid ; the Im-
perial Legislature evidently decided on the sup-
posed consent of the colony, and if that consent
could be disproved, it would be a valid argument

for repeal.
English emigration has assumed a dAightful form
to America. First, there was an inroad of pick-
pockets, and New York and the watering places
were deluged with these highly-trained gentry.
Latterly, a class even more scientific in their way has
been landed in considerable numbers in New York.
Their appearance excited the greatest surprise, as
they were lusty, low-browed, short-cropped, broken-
nosed individuals. At first Americus mistook them
for " dumbfoundered Spaniards," but inquiry proved
that they were English prize-fighters who find that
is their own " effete" country even the manly sport
of boxing is going dawn before the law. Prize-
fighting is now erected into an American institu-
tion. The Spirit has a weekly column devoted to
it. No hero is received with such an ovation as a
winner of the belt, and, judging by the success in
matrimony of two celebrated pugilists, none are
more favoured by the fair sex. They have their
representative in Congress, and the man now
greeted with a flourish of trumpets is Billy Edwards,
who, after a desperate fight, defeated Sam Collyer
on T
that "the elective franchise
winning the light
we
ghrtacvhears I m
pisolnasnhdi,p.
The Demobrats of Delaware, at Wilmington,
re-
affirmedisapoltiacarles ol
privilege,ution,and not a natural right," and
therefore to be conferred and withheld by States as
they shall desire. The Democratic Convention of
Boston was about to meet there, but it was not yet
known who was to be the leader, young John
Quincy Adams having subsided since the return of
the late Minister, Charles Francis. Dr. Loring is
working vigorously to secure the Republican nomi-
nation as Governor of Massachusetts, backed by
Butler, whose canvas for the Essex District for
Congress Loring in return supports ; and though
Butler is likely to be successful, the other has little
ofi‘era
ichance.od he
Colonel William Brown has made a speech at
Cincinnati, wherein be describes how Chief Justice
Ttereßepublicansis a strong
opposition on the part
General Butler.
Chase, whose confidential adviser he asserts himself
to be, was thrown out by the Tammany Conven-
tion. Brown says that the Chief Justice was the
candidate of the Progressionists, who offered to ac-
cept him on his own platform in opposition to the
Reactionists. Senator Hendricks was the man they
feared, and after disposing of him it was settled that
Mr. Chase was to be nominated, with the full sup-

port of the Now York Delegation,
headed by Go-
vernor Seymour. The Reactionists, represented by
Mr. Pendleton,
seeing their defeat, quickly decided,
and skilfully manoeuvred to bring in the least ob-
noxious of the other wing, and to secure a thorough
Reactionist for Vice-President. Brown asserts that
Mr. Seymour was false to the Progressionist sec-
tion, and enabled the other to successfully play
their game. He divides the Democrats into Pro-
gressionists, who accept the results of the war, and
Reactionists who desire to revert to the state of
things before the war. Hr.d the Progressionists
succeeded in their design of nominating Mr. Chase,
there would have been a split not only in the Demo-
cratic, but in the Republican party, the result being
impossible to predict. All Colonel Brown states
has long since been said in our columns, but on one
point we know that he is wrong. Horatio Seymour
was in earnest in declining a nomination, and he
was as much carried away by the coup of the Ohio
delegation as was the Convention itself. Any one
may picture his position as chairman, when the
whole Ohio delegation threw their votes for him on
seeing the impossibility of electing Pendleton, and
the meeting, consisting of 5,000
Representative
men, rose en masse, shaking the solid hall with their
shout of sanction. It was one of those moments
of inspiration, when an electric fluid strikes
simultaneously on a multitude, and no man has
an individual will within its influence. We would
like to know the person who could have resisted it,
and _Horatio Seymour was simply borne away in
the torrent.
The Fenian Congress continues in session, and
although scares in Canada have been frequent of
late the brotherhood is in a very poor way.. What
chance Fenianism has of revival we cannot tell,
but just now we consider the cause hopeless. Ire-
land pacified, the alliance between the United States
and the United Kingdom becoming more intimate
as the passions engendered by the War die out, and
the idiotic notion that the Emerals.l. Isle can in
any. way be affected by cutting the throats of
Canadians being exploded, all which injuri-
ously affects the organization. It costs money ;
and as it does nothing but talk those who

furnish that money inquire what has become of it.
.T. R. O'Beirne denied at the last meeting that the
&Wage wing had squandered on their; own pleasures

the contributions of the servant girls and labourers.
"Many Americans," he said, "who sympathize with
the objects of the organization are impressed with
the belief that the men who manage and control it

are men who obtain a living from it, and, under the
plea of patriotic purposes, serve their own ends."
A notion which, he hoped, might be dispelled. The
main object was to reconcile the factions headed by

O'Neil and Savage, but little towards this was ac-
complished, except Savage's resignation on the 29th
ult. of his office. W. J. Nagle hopes to be nomi-
nated from the Fourth New York City District for
Congress, and L. J. Meany also aspires to a seat.
The Secretary of the Treasury, on the 7th Sep-
tember, published his usual monthly statement of
the public debt awl the cash in the Treasury of the
United States. The former amounted en the Ist
ins'ant to $2,643,250,000, being an increas of
$9,750,000 as compared with last month, and the
latter to 107,500,000 dollars, being a decrease of
2,500,000 dollars. Some interesting figures have
lately been given of United States taxes and
lands. Mr. A. Delmar, of the Bureau of Statislies,
asserts that the amount of American securities held
abroad is under $700,000,010. In 1866 it was
shown that the amount was—United States Bonds,
$350,000,000 ; State Bonds, $150,000,000 ; and
$100,000,000 in railway stocks and mortgages. He
considers that the stock has but little increased
in foreign hands within the last year and
a half, but in this he is evidently wrong.
New York papers notice a movement which
is believed to have its origin in Germany, to
substitute 5-20 Bonds of a late date for those of
1862, hitherto bearing the highest quotation, and
most generally held in Europe. Its effect has
tended towards equalizing the prices, and, if a
genuine movement, it shows some alarm that the
Government may be compelled to redeem those at
their option in greenbacks. The estimate of inter-
nal taxes paid in the United States since June 1,
1863, is $1,139,000,000; of which the Income Tax
supplied $226,083,194. The internal tax paid by
the inhabitants of New York city for the year end-
ing June 30th last was $22,397,163, against
$31,550,532 for the preceding year.
Juarez has denied the rumour that he had pro-
posed to cede Mexican territory to the American
Government, either for money or for military aid,
but this asiertion is taken in a diplomatic sense, with
the evident intention of throwing dust into Mexican
eyes, as he was known to be in. treaty with Wash-
ington for the provinces of Sonora and Chihuahua,
which the United States are determined to have.
Their possession will allow of a railroad from
Brunswick Bay, on the coast of Georgia, to
Guaymas, on the Gulf of California, eight hundred
miles shorter than any other, over the snow-
less region through North Mexico. Mexico is
in a more peaceful condition than anticipated.
Romero has arrived at the capital from Washing=
ton and resumed his duties as Minister of Finance,
till promoted, as now intended, Prime Minister.
It is asserted that Mr. Seward instructed the Ame-
rican Minister at Berlin to advise the Prussian Go-
vernment to recognize Juarez as President, and re-
ceiving a favourable answer he signified to Juarez
the fact. That President's reply was that he could
not receive a Minister from Prussia until a new
treaty had been entered into with that Power, nor

from any other which had recognised Maximili in as
Emperor of Mexico, all whose representatives he
had dismissed.

A way has been discovered to adjust the diffi-
culties which have hitherto prevented the appoint-
ment of the twenty-five supervisors whose offices
were created during the last session. 11r. M'Cul-
loch desires to appoint Democra•s; Mr. Rollins,
Radicals; and the latter has rejected the nomina-
tions of the former, while the former rejects the
recommendations of the latter. Each is to have
the appointment of twelve, and they are to toss up
for the odd one—a way, however admirable to
settle the personal difficulty, can scarcely be re-
garded as becoming in public officers when dealing
with the public service. It is asserted that even
this does not satisfy Mr. Rollins, who insists on all
or none, and has driven both his chief and the Pre-
sident wild. Rumour says they are hatching a
plot against Rollins to get rid of him by charges
of personal dishonesty. Besides he has taken a
step which has been pronounced unwarrantable—
he has instructed some of the detectives employed
by the Internal Revenue Bureau to perfor:n the
duty of supervisors, in cases where such services
are required, until supervisors under the new tax
law shall be appointed by the proper authority.
The Somerset county (Maine) Republicans have
nominated S. D . Lindsey, of Norridgewock, and
Luther H. IVebb, of Hartland, for State Senators,
and the Republicans of the Fourth Congressional
District, at Bangor, on Thursday, nominated John
A. Peters for a second term.

General Hunter, who is a member of the military
commission which condemned Mrs. Surratt, now says he
was one of those who recommended her to mercy, and that
he has "always looked with contempt upon the execution
of that poor woman," adding that there " were thousands
of rebel men who more richly deserved hanging."

We commend the following to Artemus Ward's
executors :—A. Head, of the New Orleans Crescent, has
had an interview with Artemus Ward, through the me-
dium of " Planchette," and the spirit of the humorist.
said—" I'm tryin to finger up how I could give away
$25,000 at my death, when, according to reports since,
didn't hey but five."
It was expected that the governors of all the New
England States, with their respective staffs, would be
pr. sent at the New England fairat New Haven, and would
address the people during the exhibition.
Yet another new planet—but this time disco-
vered by Dr. C. H. Peters, of the Lichfield Observatory at
Hamilton College, Clinton, New York.
It is stated that before leaving for the Piraias on
board the Franklin, Admiral Farragut made several hydro-
graphic surveys at both entries of the Bosphorus.
Judge Underwood and four other members of ,
the late Constitutional Convention of Virginia, consti-
tuting a committee at whose call it was to assemble, are
in Washington. The question of calling the Convention
together is urged upon them. The principal object seems
to be to secure the ordering of an election.
The President seems determined at all hazards to
reward those who tendered him active support during
the Impeachment Trial. Following the legal opinion
given by the Attorney-General, he has appointed Perry
Fuller, Collector at New Orleans, thus placing that gen-
tleman in the class known as " carpet-baggers."
At the written request of the bar of Atlanta
Georgia, Hiram Warner, late Chief Associate of Georgia,
has accepted the place of Associate Justice of the Supreme
Court of the State, to which he was recently appointed
by Governor Bullock.
'Two American clergymen took part in the ser-
vice last Sunday night at the Chapel Royal, Savoy ; the
second lesson was read by the Rev. Dr. Corbyn, rector of
the Church of the Holy Trinity, St. Louis ; and the ser-
mon preached by the Rev. Dr. Spenser M. Rice, rector of
New Jersey, U.S., from Isaiah Ist chap. v. 16 and 17—
" Cease to do evil : learn to do well."
About the Ist of November, 1867, Mr. Dabney,
United States Consul at Fayal, Azores Islands, wrote to
the Department of State that there was a large number of
American seamen on those Islands, principally deserters
from whaling vessels, and that in order to get them home
ho had chartered the Portuguese brig Evarista to bring
them to America. He shipped on board of that brig 87
seamen for the port of Boston. The brig has not since
been heard from, and it is supposed that she, with all on
board, has been lost.
Z. Eastman, Esq., United States Consul at
Bristol, who has lately been on leave, is still claimed in
Chicago as a citizen of that city. His street-rail invention
has been taken up warmly there, as his presence in
Chicago has given the people the opportunity of having
its merits explained.
Chief Justice Chase is on a visit to Senator Sprague,
Providence, Rhode Island, and as the Senator has just re-
ceived two Shetland ponies from Scotland, we suppose
these great men are galloping like boys over the country.
We are sorry to see citizens proceed from the
summary execution of offenders, who are known to have
committed theft and outrage, to the barbarous practice now
exploded in all civilized countries, of enforcing confession
by torture. George Dighton, who was arrested at Pe-
trolia, Canada, on Wednesday night, August 2G, on sus-
picion of stealing $5OO from the landlord of the Putnam
Hotel, was forcibly taken from gaol by the citizens and
convoyed to a derrick, where, after suspending him three
times, once by the wrists and twice by the neck, until life
was almost extinct, they extracted from him a confession
of the theft.
At the request of Mr. Bancroft, the American
Minister in Germany, the Government of Wurtemburg
inteude to present a bill for the abolition of the law requir-
ing•that the marriage of Wurtemburg subjects contracted
abroad should receive the Royal sanction in order to be
valid.
The Hamburgh American Company have given
orders to Messrs. Ceird and Co., Greenock, to build another
ship similar to the flolsatia and the Tre,stphalia, recently

added to this line. She will be called the Silesia, and will
run from Hamburg and Southampton to New York.

There were already 200 entries for the New Eng-
land fair, which was t, be held at New Haven last week.
B. Sumner, H. M. Ames, and Winslow of Vermont will
exhibit short-horns; Welles of Wethersfield, Ct., Collins
of Collinsville, Ct., and Mr. Birnie full herds of Ayrshires.
W. W. Chenery of Belmont has 25 head of Dutch cattle, and
T. Fitch of New London, Ct., and John Brooks of Province-
town, herds of Jerseys, G. C. Hitchcock of New Preston,
Ct., 27 of his celebrated Ashland horses, among them two
colts, valued respectively at $25,000 and $lO,OOO. Another
valuable animal is the $25,000 merino ram of Mr. Stowell
of Vermont.

A telegram from Constantinople, dated Sept. 7,
is to the following effect:—The French Lyceum has just
been opened. Amongst the boarders, numbering 280, are
the grandson of Foal Pacha and the two sons of Ethem
Pacha. It is rumoured that the Prussian Minister has
bean applied to by his Government for a report upon the
situation in Crete. That document would be the basis of
a note which the Prussian Government intended to for-
ward to the Porte. It was added that such a note .would
show an identical Eastern policy between Russia, Prussia,
nod the United States of America.

By the recent postal treaty on books, pamphlets,
&c.. the postage on books is 6 cants for four ounces, and
on patterns 8 cents for the same weight from the United
States to England, and 6 cents per four ounces on both
books and patterns from England to the United States.
A single volun•e imported by mail is not subject to duty.
Some annoyance has been excited in New York by a
message announcing the intention of the British Govern-
ment not to forward letters by any steamers which do not
touch at Queenstown. Postmaster Randall denies that the
British Government has any such intention.

MONEY AND BUSINESS.

(Front the Springfield Republican, Aug. 29.)

Money continues plenty, and though it is now moving
very freely from East to West, and from city to country,
in obedience to the usual demands of the season, it is no-
where reported scarce, and in many quarters remains in
positive excess. Why will not some of our more scholarly
financiers get on c a currency for the country, like the hydro-
graphic and geographic charts, which display the vary-
ing depth of water, the ocean currents, the paths of the
ships upon the sea, the course of isothermal lines, the
accumulation of magnetic force, the comparative eleva-
tions of the land, the arrangement of the different orders
of animals, and the periodical migrations of birds ?
Why should we not have charts which should show the
distribution of the currency at the several seasons of the
year, the height at which it stands in different sections,
the attractions and impulses which it obeys, and the
channels and courses by which it accomplishes its great
office of transferring the values of the country ? Such
charts would be of the highest interest and value, both for
present use and for the instruction of the historian.
At Boston, the call for money is moderately active; but
there are no indications of pressure in the demands. I t
some of the hanks the deposits are increasing, and the re-
quirements of customers are met without difficulty. For
discounts from 6 to 7 per cent. is charged, chiefly at the
higher figure. For "minute money" there is little or no
demand. New York funds are in active request, as the
banks generally do not care to draw on their funds there.
At Now York call loans on first-class collaterals are
made at 3to 4 per cent. The rates on prime mercantile
paper are 6to 7. The banks are making no remittance of
consequence to the interior just at present, and are dis-
posed to ask employment for their funds at home. At
Chicago in the early part of the week the market was re-
ported as rather close, but the extensive Westward move-
ment of currency had before the close resulted in a large
accumulation, and the demand was sluggish. Repots in-
dicate that the crops have pretty generally been drawn
upon, and that the next thing will be for the money to
come back. It is worth observing that the real work of
"moving the crops," that is, the getting them off the
farms, has already been very generally performed, with-
out the faintest indication of a scarcity, nay, with a posi-
tive excess all over the country. This shows how much
sense there was in the Western demands for an increase
of currency. At Cincinnati and St. Louis money is only
moderatively active. Abroad the great accumulations of
specie remain substantially intact, with a flow of two or
three million pounds from England to France in connec-
tion with the new French loan.

Governments have been pulled down sharply during
the week, making an average loss of two per cent., a little
more on the Sixes of 1881 and Five-Twenties of 1862 and
'65 (old), and a little less on the others. 14 is true they
have had to take a tremendous hammering, but no more
certainly than gold. How, then, will those journals who
declare that the values of gold ant Governments work
in opposite directions--that as the former goes up the
latter should go down—please explain the general coin-
cidence in their movements from the middle of July to
the present time ? Among other causes, however, it
must be said there •are indications that the export of
Bonds has been overdone of late. Only a part of those
taken for abroad have yet found purchasers for invest-
ment; prices consequently have declined in speculative
boards. It was iuevitable that this should be the result
of the movement. In no article of merchandise is an ex-
cessive supply so certain to follow a quickened demand.
The check probably is only temporary. The actual de-
mand for our bonds abroad is large and increasing. The
amount as yet returned is very small; and we need not
expect more unless the English mind becomes alarmed
about the prospect of the Presidential election. Just at
the close of the week the market for Governments took a
firmer tone, and at the lowest prices the whole offering
was promptly taken, the banks havng been large buyers
in the dullness of discounts. The preference at the quo-
tations was very decidedly for the latter issues.
Gold has had a busy week. On Thursday it opened
at 1441, fell to 1431, and closed 1431 to 144. On Fri-
day it opened at 1431, advanced to 144}, and closed
1431 to 1431. On Saturday it stood at 1441 to 1. On
Monday, it opened at 1441 and closed 1451 to 1. On
Tuesday it opened at 1451, advanced to 1461, fell to 1441,
and closed at 1441. On Wednesday it was again irregu-
lar, opening at 1441, declining to 144, advancing to
145, ' and closing at 1441. On Thursday it opened
1441, and closed plump 145. It will be seen that gold
has, three times, during the week, gone up above 145,
but has ranged generally a little below. The decline
has been due to a severe hammering, and the boarish
feeling is still very strong. The operators for a
fall are at work with a zeal worthy of a better cause.
On Tuesday there viere rumours of a return of
specie from Europe, which had a depressing effect upon
the premium. On Wednesday the rumours became a cer-
tainty. The amount shipped ie reported at several mil-
lions, but may have been exaggerated for speculative
purposes. Something like a million has also been received
from California. Three steamers from New York on
Thursday took out only $60,000 between them. The
shipment of gold to the United States et the present time
looks, it must be confessed, a little oddly; and just for a
rarity will do. We cannot see how it is to last, though
the rapid drain of the early summer had manifestly been
checked two or three weeks 'ago. The greatest signi-
ficance of the movement is that a little gold coming back
is likely to bring a good many Governments with it.
The railway and miscellineous stock market has been
unusually tedious this week. The most marked feature has
been the appreciation of Milwaukee and St. Paul, which
has advanced from 691 for common and 781 to 781 for pre-
ferred, to 761 761 for common, and 831 to 831 for preferred.
Of course this could not be allowed to go on, and ac-
cordingly an injunction was granted on Monday against
the Milwaukee and St. Paul, in favour of the Milwaukee
and Minnesota company, and the bondholders of the old
La Crosse Company. The St. Paul Company are restrained
from paying dividends, or consolidating with any other
company, or doing anything else. James M•Sweeney
has been appointed receiver; but as the company's
books and assets are mainly in the State of Wiscons:n his
honours are likely to be barren. Nobody believes that
the injunction will remain, as the points involved have
already been settled by the United States Supreme Court
in favour of the St. Paul Company. Judge Barnard, it
will be recollected, is the scandalous magistrate who
was so prominent in the Erie an 1 Central quarrel, al-
though himself largely interested in the latter stock.
An advance of 21 per cent. has been made by.the agents,
in the selling price of the 6 per cent. gold bonds of the
Pacific Railroad of Missouri ; $3,000,000 of these securities
have already been disposed of in New York alone. These
bonds constitute the first mortgage on the two hundred and
eighty-three miles of road from St. Louis to Kansas City,
and have twenty years to run. The exhibit of the Chi-
cago, Rock Island, and Pacific Company for the year ending
March 31, 1868, is published, and represents the affairs of
the company as in a gratifying condition. The surplus
earnings are $609,086, out of $1,511,974 of gross receipts.
The officers of the road promise to have it open to the
Missouri River by next year. Erie Railroad Stock is now
an object of considerable attention; and anyone who wants
to get his fingers squeezed had better operate in it.
At New York the imports for the week have been
$6,644,290, against $1,276,591 for the same week last
year ; the export clearances of domestic produce amount
to $2,772,663 against $2,962,501 ; the export of specie
has been $648,923 against $595,533. Since the Ist of
January the gold values of import entries at New
York have been $165,142,622 against $172,953,818 for
the same period last year, a decrease of $7,811,186.
The currency value of the exports of domestic pro-
duce and miscellaneous goods for the same term
has been $102,287,498 against $120,796,233, a de-
crease of $18,538,735. The exports of specie of all de-
scriptions in that time have been $63,917,079 against
$41,059,275, an increase of $22,857,801. The deliveries
of Californian gold and silver have been $28,300,048
against $19,939,520, an increase of $8,360,528. We see
nothing yet that looks particularly like the beginning of
the fall trade. It is true, however, that trade habit-ally
opens later now than it did ten or five years ago. The ex-
, tension and perfection of our system of transportation and
communication, and the increasing value of time in com-
mercial transactions, both enable and induce dealers to
supply themselves with goods more as they need them. Tele-
graphic order's and parole by express make a wonderful

difference in the time and manner of laying in stocks.
Merchants can now wait till they find out just what they
want, and send for it as they want it. In addition to
this the practice, so fortunately prevailing, of buying for
cash, puts a premium upon buying closely ; and goes a
great way to pay the expenses of telegraphing and ex-
pressing. Yet, for all that, the season opens slow and
dull—as much so as did the spring. That there can fail
to be a heavy trade is hardly possible with the extraordi-
nary crop of cereals now being harvested; but it does not
seem inclined to begin just at present. There has been a
little excitement in cotton goods this week, owing to
strong efforts to break down the market, but prices have
yielded very little. There is nothing else worth alluding
to. The papers are all cheering the public on, telling
buyers to go in, and predicting that those who wait
longest will faro hardest. We are inclined to think it
will be very much so, particularly in the matter of
cottons.

The crops are now corning in splendidly. The re-
ceipts at the ports of Chicago, Milwaukee. Toledo, and
Cleveland, since January 1, aggregate 42,755,453 bushels
of all kinds, against 35,167,677 in 1807 ; 48,480,936
in 1866 ; an 1 37,424,754 in 1865. Wheat is yielding
even above expectation. Barley now proves to be little
more than an average. Oats and cornare doing much better
even than was expected. With such a crop, the probabili-
ties of export make au important question. Advices from
England indicate that, with the exception of wheat, her
principal crops will quite generally fall short of the ave-
rage; and that she will make a heavy demand on other
countries. Whether we shall be any the better for it is
quite another question. Meanwhile breadstuffa are lower
and likely to be. Flour is about 70 cents off, and still
larger concessions will have to be made during the season.
The export of hay is increasing, and old hay rules
strong. The cable reports that the American hay ar-
riving in England is fully as good as the English, and
can be offerded at little more than half the price. We
have already advised our readers of a strong move-
ment in that direction. The market for hops has been
considerably strengthened by unfavourable advices
from Europe and some portions of Germany. In
England the prospects of the crop are very poor, and
an advance of 10 to 12 shillings per hundredweight
has already taken place. In the United States the crop
pnmises well—better, however, in New York than in Wis-
consin. Tubacco is firm and active for all grades, and the
crop throughout the country is coming forward satisfatAo-
rily. From the Southern ports we have accounts of as many
"first bales" of cotton as ever there were "last survivors"
of the revolution. Notwithstanding the crop will soon be
coming in cotton is rising, having improved a cent a
pound during the week. The fact is, the crop has been
overrated, and those who have sold for delivery in Octo-
ber, November, and December, at diminishing prices, will
wish they had not. The yield will be nothing more than
fair, and the amount realized will not justify the recent
decline—of this we are convinced. The quality of the
bales brought to port has boen very good. Unusual exer-
tions are being made to bring it in early.

(From the 'Vail-street Journal.)
NEW Yoxx, Friday Evening, Aug 28.
Money continues plentiful, and on call is readily ob-
tained at 4 per cent., with small exceptions at 3 and 5 per
cent. For Discounts, short prime paper passes readily at
6 per cent., but there ie no demand fur long dated paPerl
which is difficult to place at 7to 8 per cent. Government
Stocks are steady, with an advance in prices to-day, esPe"
cially in the 5-20 Bonds of 1862, which are, for the
moment, scarce. Gold has shown considerable .varia-
tion during the week, but is, to-day, quiet, having
opened at 145}, and after touching 1448, closed at 145 i.
American silver is taken for shipment across the frontier
at 7to 71 cents below the price of gold. Mexican dollars
are quoted at 103 to 1031 in gold. For the Border State
Bonds there is a better feeling, with a slight improvement
in quotations. Railroad Stocks have not shown much ac-
tivity, with the exception of Erie and Milwaukee and St.
Paul, both of which have been heavily manipulated, clos-
ing to-day, however, at lower figures.
In Miscellaneous Stocks the leading business has beau
in Pacific Mail, which has touched 104, but has today
sold at 1011. Bankers and Brokers' Association has ed''
vanced to 105.
Miniug stocks are heavy, and the business continuos
limited. Consolidated Gregory had declined ,to $3 85'
New York to $1 25, Quartz Hill to 95 cents, and Smith
and Parmelee to $3 85, but prices have somewhat ad
vanced, more especially the latter, which, in view of the
election, has suddenly taken an upward turn.
Petroleum stocks are steady, and a good business is do-
ing. United States is firm at $2 50, and Buchanan Fall
at 50 cents. For Rynd Farm there is a good inquiry, the
prospects for the restoration of the property to the c 0134.
pany being favourable.