The New York herald., 1861-12-17
TRIPLE S HI T. EFT
New York, Tuesda y, December ~, 1861
THE SITUATION.

THE STU ATION.
The recent news from England relative TO the
Mason and Slide arrest has not excited any alarm
mensurate with the feeling which ii has given rise
80 generally throughout the country. The admin
istraton do not attach much importance to the vio.
lent denunciations of the British press neither do
they accept the statement OF the decision OF the
British Cabinet AS just exposition Of the probable
policy OF the government of her Britanir Majesty.
They rely upon the sober second thought Of the
sagacious statesmen OF England, and the result o.
careful examination Of all The points involved in
the case, to elpcda,c fair and sensible cou-
clusien The excitement in this city npou the re,
ceipt OF the news WAS considerable.
The Bank Committee, representing the b.,,h, Of
New York. Philadelphia and Boston, held a meet.
ing yesterday ut the Bank Of Commerce, and. con
trary to public expectation decided not to suspend
specie payments Az exchange has risen above
The specie shipping point, and the public have
already begun hoard at the rate of half million
be considered final. and that our banks, with their
usual common sense, will decide to au-pend when
they have lost few more millions. Details Of tie
situation Of the banks win be found in the money
srticle in another column.
The army in front of Washington i,. made no
move since last report but, in other quarters.
events are progressing with prospect, of success
cheerful to contemplate.
The naval expedition OF General Butler which. i,
will be remembered, sailed from Boston and Port
land short time since with strong military force
has made landing at Ship Island, at the mouth of
the Mssissippi river. We give to-day very full
sccount OF the landing OF the vanguard OF Buffers
expedition. together with map of the position
which the Union forces now occupy in tue Misss-
spp Sound, which is one of vital Importance in
connection with future operations vet to ne made
on the mainland.
We give also map of the United States, show.
ing the loyal States and those in rebellion. the
former in white and the latter in black 1t will be
observed that the Stars and Stripes are nos flying
over larger portion Of the Southern soil than when
we last published similar map, few months ago,
and il is 60 be hoped that the expedition to the
Mississippi mouths will long enable us 10 repre-
sent portion Of Lousiana and the other Gull
States in immaculate white also.
The news from Port Royal, brought to Fortress
Monroe by the United States transport Illinois,
shows that the Union land and naval forces are
unusually active. The Fcrty-sixth New York regs.
meut, Colonel Rosa, had left Hilton Head and pro.
ceeded to Tybee Island. The Seycnty-sjxth and
Sixtieth pennsylvana Volunteers now occupy
Otter Island, in st. Helena Sound. The island
possesses some strategic value, from the hc, tha,
it commands the entrance OF The South Edi.,o
river aud other important river points. When the
Illinois left Port Royal General vieles brigade
we're ready to depart on second expedition, the
destination Of which was not divulged. The troops
were TO be conveyed In numerous steam trans
ports, and conveyed by naval squadron. We
give elsewhere description of the vessels aud
list Of the officers Of General yiele's force
The cotton gathering by the negroes, under thu
direction of our troops. was progressing ssti,ac-
torily; several hundred bales have been brought
down from Beaufort to Hilton Head Over two
millions OF dollars worth have already been se
cured.
rumor, Tor which there seems to be lutle
confirmation, was brought to Baltimore Yesterday
by the bark Rynes TO the effect that the uunho.,
:roquois had heavy engagement with the
priyateer Sumter of Martinique, and that one .,
The vessels had been compelled to put into p,,,
Royal for repairs after the conflict: bu, yheD.r
Il was the gunboat or the priyateer, the cat,tsir
OF the bark could not tell. There does not .eo,,
10 be nucb truth In the story, however,
fhe steamship Champion from Aspinsan aia,,
arrived at this port last evening, reports hayinp
been chased by three masted propeller for ~,
nour, in lat. 81 30, lon "a. After following -,
Champion without being able to overhaul her. tl,,
propeller 3oisted English coors but The com.
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