Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1861-08-20

excceded,) it is easy even for those least IA,
milar with matters of finance, to understand
that such a mass Of paper added to circulation
already plethoric in view of the stagnatIon OF
trade, will bring on general disturbance OF
the equilibrium Of public credit
1t is true that the law has provided That the
notes of small denominations shall he payable
in specie on presentation at the treasury; but
the officers of the treasury will not be able 10
redeem them Then on the day when their
redemption shall be interrupted, (and that DAY
will arrive almost immediately a marked dis.
elimination will be established among the peo..
pie between treasury notes, bank notes and
specie The former will encounter that lntul-
tive repugnance which all fictitious rcprescr-
tatives Of value, in forced circulation, excite.
| Their depreciation will then assume tbs pro.
portions OF discount no longer relative and
discussed as question Of exchange, but such
IS the fears OF some and the necessities OF
others will bring upon them. It will become
continual struggle between the seller disincn-
ed to deliver his goods in exchange for such a
medium, and the buyer, goaded by the lmpe-
rious necessity OF obtaining them. 1t was thus
that the spectacle was presented in the days OF
the French revolution, Of apound of bread sold
ior franc in silver, and commanding thirty
thousand francs in assignats.
We do not here seek to become the prophets
Of evil. We indicate only whittier leads the
road upon which We are entering. Events
alone will decide what distance We are des:'
tined to advance upon this route OF public and
private ruia. But that we will not be extrica-
ted without = bitter praof Of what govern
nent paper money costs people is sad reality
which facts will establish before long
One thing alone might still arrest or at least
postpone the financial disasters which float in
the horizon that is, the negotiation OF Il loan
which, by throwing one hundred and fifty or
two hundred millions into the Federal
treasury, would enable it to con!inc the re-
course to treasury notes within very narrow
| limits.
SECESSION ON TIE PACIFIC--ATTEMrr TO sueIr-
JCGATE LOWER CALIFORNIA.
WASHINGTON, August 14th.-Ergader Gen.
Sumner, commanding the military division Of
the Pacific has officially informed flag officer
Montgomery, as we'll the government, 0: the
existence OF report that Col. Van Dorm, Of
the secession army, has been seen at the head
| Of 1900 men on the road between San Antonio
ard El Paso, from which it is feared m attempt
TO subjugate Lower California may be conlelu
plated by the secessionists.
Captain Montgomery, in tic Instructions 10
| his subordinate officers, says: This must not
be allowed, if in our power to prevent it
Therefore, should any exigency arise. you will
promptly Cooperate with the troops Of the
! United States, or otherwise doall in your pow
cr to countcract and prevent the execution Of
any such purpose by the troops in The service
| of The States claiming to have secedrd from
| our Federal Union
TIlE POSITION OF THE ISrIANs TOWARDS THE CO.
yERXMENT.
WAsuNGToN, Aug. l4.--Thc Commissioner
OF Indian Affairs Mr.. Dole, is on the eve OF
leaving fur Kansas and Nebraska, on business
connected with that bureau. The government
| has no official advces that other than half
| breeds from the Indian Territory west Of the
Mississippi have entered the Confederate mill
| tary service.
The forts there having been evacuated by
the United States troops, the Indians disposed
to be loyal have been intimdated By the dis.
unionisls, or deceived by promises depending
on the future for iuifil,nent. Outside Of tho
above named Indian Territory, the aborigiacs,
50 far as the government is advised, have not
risen against our authority, the occasional and
characteristic outbreaks being confined to
themselves, owing to the fact Of the absence OF
Federal troops to hold them in check
LETTER FROM Mr.. MAGRAw OF PENNSYLVANIA.
The following letter from Henry S. Magraw,
OF Pennsylvania, who went for COL Cameron's
! body, and is now prisoner in Richmond, has
beer received at Washington:
July 25.
ARRESTED 23d, on the ground that VIC had
come within the lines OF c. a. improperly
We are now held as prisoners OF w&r, and are
quartered in tobacco house, in co;apany with
| the captured Federal officers Hare met manr
! friends here who have been exceedingly kind.
Indeed, we were treated With kindness and
consideration from the time we we're put IN
der arrest at Fairfax Court House. The officer
in charge Of US, and believe of all the prison.
ers, is brother Of Mrs. Lincoln Mr.. Todd,
Of Kentucky. When the United States gov
ernment refused to recognize the G. 5. govern.
ment as o bcligerent, and lailcd to send tag
Of truce under which their dead and wounded
might have been properly cared for, the authori-
ties on this side became very rigid in reference
to these prisoners.
Before this they were allowed to remain 1t
the hotel on parole. Now they are confined
and under guard all the time. As we passed
the battle ground day before yesterday, We SAW
some of the dead lying unburied When the
| Confederates had buried their oTn dead, and
cared fer their wounded, they then turned
their attention to the killed and wounded Of the
enemy. Harris and have no expectation OF
being released at an early day, although efforts
have been made in our behalf by leading
Southern gentlemen in high position. But tthay
will not bend the rule in our favor, and say
that the measure meted Oh; TO their captured
shall be our fate"
FROM NEW MExlco-ATrEMPT To TAKE L. :. PORTS
INDEPENDENCE, No.. Aug. 13.--The Santa Fc
mail, With dates to the 29ut., arrived here to-
day.
Lieutenant Smith, ofthe Fifth lnlontry, went
| to chihuahua TO recover 2 government train
which had been stolen, and was taken prisoner
by the Texan troops. He is now At FL Paso,
on parole.
i large number of Texan troops ere on their
way to seize Fort Stanton and any government
property they can find. Preparations are
being made to receive them at Fort Stanton,
which can bc defended if the rebels have no
artillery. The Federal pickcts arc out in eveTy
direction.
It was reported at Santa Fe that the regulars
have been ordered home. Ifso. the Territory
is virtually abandoned to The South.
Fort Fillmore is now garrisoncd BY thirteen
comp paaes Of regulars, including three Of dra'
goons. They are under marching orders as
soon as the volunteers can relieve them.
The Apache Indians are troublesome They
killed the driver of the overland mail coach,
but were finally repulsed.
Two steamboats, passed our landing ycster.
day, going down the river, loaded with Fedc-
raj troops, supposed to be for Lexington.
from GEN. BANKs's coLuNI.
HEADQUARTERS, SANDY HOOK, August IL
Yesterday evening the freight train from Bal
timore, arriving here about 1 o'clock, brought
intelligence that 6ght was progressing at
Berlin. Other rumors were also circulated
that scvcra! regiments Of the Confederates were