The Sun.
London, England, 1868-05-25 00:00:00

COTTON.

LIVERPOOL, May 25.—Sales probably 8,000 bales
Market quiet, and unchanged.

THE WAR IN PARAGUAY.

The South American mails, via Bordeaux, have
arrived. The news from the seat of war is highly
interesting, showing the unflinching bravery of the
Paraguayans, their devotion to their chief and to
their country. Every day it becomes more evident
the Allies are un able to bring the war to a speedy end.
They are now only engaged in besieging Humaita,
and in taking the first base of operation of the
Paraguayans. Humaita is nearly abondoned, having
only a small garrison, and still detains the Allies.
Marshal Lopez understood, more than five months
ago, that the Allies would invade the interior of his
country, and, with his well-known energy, sent all
his forces to fortify the lines of the Tebicuari. Since
the Allied fleet passed Humaita the Paraguayans
have transported all their guns and ammunition —in
fact, everything necessary to carry on the war
for an indefinite period, to this new position,
without the Allies knowing a word about it,
leaving all the forts and redoubts round Hu-
maita bare of defence. Even at Curupaity
the Brazilians found only one small gun, all the
rest being imitation wooden guns, and straw men,
but which appear to have been sufficient to keep the
soldiers of the empire iu awe. The Buenos A yres
Standard, in its summary for Europe, says :
" Tne news from the seat of war is of less in-
terest than might have been expnted after late
events. There seems little doubt that Lopez has
abandoned his whole series of fortidcations, with
the exception of llumaita, where he has left a
small garrison, and has retired with the main
body of his army and heavy artillery to the right
bank-orthe river retneuart. it=s-e-e-u-wsv
have been long meditated, and was partially accom-
plished some days previous to the last attack of the
Allies, who discovered only wooden guns in the
embrasures of the redoubts, and no signs of recent
occupation in force. We remain in daily expectation
of hearing of an attack on Humaita by the Allies.
In the interval, rumours have arrived which indicate
that the Paraguayans are still active, and have suc-
ceeded in capturing 800 horses from the besiegers. The
river is falling rapidly, and the chains across at Hu-
maita will again become a serious obstacle to the Bra-
zilian fleet, which is partly above and partly below
it. From these accounts it will be seen that Humaita
has not yet been bombarded, nor so crippled as to
induce the Allies to hazard an assault, and the news
sent by telegram from Lisbon turns out as usual
" Brazilian news." Her Majesty's ship Linnet has
been lying at Corrientes since the refusal of the
Allied commanders to allow her to proceed fur-
ther than Itapiru. It was stated that the
Linnet was refused leave to go to Humaita for fear'
she would take away Marshal Lopez and his
family. The Brazilians have not yet learnt to
understand the character of a man like Lopez, who
will die fighting for his country, but not fly
like a craven. The mediation of the United
States of America is again talked of, and the
sailing of the United States steamer Wasp from
Montevideo for Asuncion gives some colour
to the report. The Standard says :—A report is
current in well-informed circles that the United
States Minister in Rio Janeiro, General Webb, has
actively revived the question of mediation in the
Paraguayan war ; but whether from recent po-
sitive instructions from his Government, or only
acting upon his general instructions, is not
known. It is further added that the Brazilian Go-
vernment has assured General Webb that the war
would be over within a short time, to which the
latter has replied that unless it was brought to a
conclusion in three months, which expire at the ter-
mination of the present month, the United States
Government would feel itself bound to assume a
decided course. The announcement from Monte-
video that the Wasp has left for Paraguay with
despatches for Mr. Washburne would seem to
give additional probability to the above re-
port. It remains to be seen whether, after the
apparently not very courteous manner in which
her 11.8.M.'s gunboat Linnet has been refused by
the Allied Generals to go higher up than Eta-
piru, the United States gunboat will fare any
better. In connection with this matter, we
can state, on the best authority, that there is
no foundation whatever fur the report that the
object of the Linnet was to save Lopez. That
nothing of the kind Liras ever contemplated is suffi-
ciently proved by the fact that Captain Bush, of
the Linnet, only requested tO be allowed to go in
company with the Brazilian steamers and behind
them, so that it would be impossible for Lopez
to get to the Linnet except by passing through
the Brazilian squadron and with their consent.
The interior provinces of the Argentine Confede-
ration are still convulsed with revolution, to which
the approaching Presidential election serves as a
cover. The unsatisfactory state of the provinces,
as well as the doubtful result of the war and the
more than probable rupture with Brazil in case of
the election of any of the candidates for President,
except Senor Elisalve, have greatly influenced the
Money Market, and National Bonds have fallen to
46k, which is 4 per cent. lower than by last Eng-
lish mail.

Foreign Mail racket List,

MAILS DUE.

austral's. and New Zealand. via Boutharapton.....May 23.
Ditto. via Marseilles .... ..... ...June 17.

Ditto, via Panama gay 23.
Brazil, Buenos Ayres, and Mout° Video June 4.
Ditto, by French packet Kty
Cape Verde. by Brazil paotet June 4.
Cape of Good Elope. Aeoension, and St. 114ena June 12.
China, Penang, and Singapore, via Southampton May 23.

Ditto, via Marseilles .... ..
Fmkland Islands .. . . .Jurie 4.
Gibraltar, via Southampton May 23.
India, via Southampton May 23
Ditto, via Maraetl es . • ••• •• • • .......... Slay 25
Malta, h:gYPt. SW. . ..... . ... slay 23.
Ditto, Marseilles May
Mauritius, Cape at Good Hope, and Natal, via

Southampton
Ditto, Jkiarsel leo , ......................... June 18
Newf oan dla ...... ....• • • ••.••• •• - .... ••• " • May 21
.June.
Yortu .:;.

Ditto, by pr.ve.la ship to OPorto
Ditto eau) to Lisbon .• •
United States, lanada, Calitorj, &C., by British
packet