The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-02-21
WASHINGTON RTMORS

From the Correspondence OF the Northern Journals |
TIE FINANCIAL AND MILITARY POLICY OF THE SOUTH
ERN CoYFEDERACY.
Private letters and dispatches were receive
here to-day from Montgomery, mapping out pret.
ty clearly the probable policy of the new govern.
ment of Coniederated States. So soon as the
Cabinet shall be announced, President Davis will
despatch commission of three distinguished gen
tlemen, accredited to the government of the United
States, and clothed with power TO treat in regard
to the forts, arsenals, public debt, &C., and to
negotiate treaty of amity and alliance.
Treasury bill will be passed, empowering the
Secretary of the Treasury to accept cotton in lieu
OF money for bonds, which are to be issued on the
Napoleonic basis. Vast quantities of cotton have
been already rendered. 1t is estimated that so
as the bill becomes law, the Secretary of the Trea-
sury will have subject to his order over two hun
dred thousand bales OF cotton English agents are
now at Montgomery negotiating with the govern
ment and offering liberal advances.
Advertisements will be issued in a few days for
sailors and soldiers. Those are especially desired
who have seen service, and large bounty will he
offered They will be made citizens at once, and
expected to take the oath of allegiOnce to the
new Government by the 18th of March. 1t is be-
lieved that small navy of probably twenty or
thirty steamers will have been extemporized and
out on the seas: Privateers will only be employed
IN the event of blockade.
Rumors are aloat that the Hon. Robert j. Walker
has been rendered the Secretaryship of the Treas
! ury by President Davis, and has been invited to
return to his old home in Mississippi
| The policy of the Southern President is evi.
derty to invoke to his aid all the available talent
of every description which he can command.
The vigor with which operations rushed on
| at Montgomery, excites much disparaging compar-
ison with the weakness of the incoming govern
ment at Washington.
Senator Wigfall will probably be made Major
General in the army of the Southern Confederacy,
and assigned to the Department of Texas.
Hon. L. NJ Keitt goes Minister to Spain.
! Mr. Washburne, of Illinois and his colleagues,
| to whom Mr.. Lincoln referred the arrangement for
| his temporary residence, selected the house on
| Franklin Square, recently occupied by the South
Carolina Commissioners. 1t is in retired part Of
the city, and removed from the hustle of hotels and
| the promiscuous crowd
The Naval Court of Inquiry called to investigate
| Commodore Armstrong; course at the Pensacola
Navy Yard, closed their labors yesterday, and re-
ported to Secretary Toucey this morning 1t seems
| to be understood around the Department that no
| substantial case whatever was made out against
| him.
| ern men from Boston shipowners, inquring about
the probability of the Southern Confederacy COM
missioning privateers in case of hostilities.
| 1t is understood that the Republicans in caucus
determined to oppose Executive sessions and stave
off the appointments until after Mr.. Lincon's nau.
guratiop.
The troops of the District will be under orders
on Thursday, Friday and Saturday. MIR. Lincoln
Is expected here on Friday night Saturday
morning.
The opinion prevails at Washington that if the
! Border States secede, they will form separate
| Confederacy, and not unite with the Cotton
| States.
| A NEGRO VIGILANCE COMMITTEE IN CLEVELAND
| The negro population of Cleveland, Ohio, have
| formed themselves into Independent linguistic.
rial court for the trial of certain of their number
| charged with having informed Mr.. Geshorn, o
! Wheeling, of the whereabouts of his slave Lucy
The assembly meets every evening, at the old Bap-.
| tist Church. Two women have already been tried
without, however, any definite conclusion to the
| guilt OF one Of them. Application has been made
TO the police by the accused parties for protection
There is much alarm among them, though no one
has the faintest idea of the penalty in case the
meeting should declare them guilty of the charge,
| THE LIGHTHOUSE BATrERY.-We copy the follow.
| ing from the Pensacola Gazette of Saturday, 9th
instant: The work on the battery, situated near
the Lighthouse, is going bravely on, under the
superintendence of Capt. VIM. Fl. James and Major
| Forney. The latter gentleman officer in
| the United States Army, but resigned his position
! to offer his services to his native State, Ala
! bama. AS this battery commands Fort Pickens
! it would be of immense assistance in case of an
attack.
In the Virginia Legislature, on Tuesday, the bill
| for the incorporation of the Baltimore and Fred
ericksburg Steamboat Company was passed. A
bill was reported for transferring the rights and
| franchises of the James River and kanawha Cana
to the French company.
1t is said that Mr.. Buchanan will veto every
measure of Congress looking to the coercion OF
| Southern States. In this he does not include
| the provision for building seven new sloops-oi
I war.
Joseph Schell, Esq, old and prominent citi
zen of Frederick city, ryland died at his resi-
| dence there on Saturday last The deceased was a
| successful farmer, and filled for several years the
position of tax collector.
Rev. DR.. Rice, of Chicago, is reported to have
accepted call to the Presbyterian Church, corner
! of Fifth avenue, New Yotk-formerly Doctor
| James w. Alexauder's.
Peter Dexter Titan one of the wealthiest citi
| zens OF st. Louis commit ed suicide the l4tt
instant. He was supposed to be worth about
million of dollars.
/ despatch, published in th eNew York Express
says that there have been heavy bets made in ash
ington that Jefferson Davis will be in that city,
President of the United States, before ninety days