The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1861-10-03

Tie first in-taI!meut % government loan, ten mil
lions. has been formally accepted by Boston banks.
The statement that news has been received iuiica;-
ing a speedy recognition 81 the 'au:eler4cy by EURO
peau Governments, j. false. They intend % continue
to re-pe1t the b!gca'Ie, AMI await the result Of tie
contest
l, j. reported that Brigham Young has declared
Jt,h Independent.
FIR the future no e~'-ar1uce- Of gods viii bealroseI
W.r.
n We clip the following from a pony letter in
the latest -IfI received
INrEpvsn CDNDupS oT AFr,Ir--Eusiuc-- of all
kiui- - improving iu the North. .m-lnw or rulta-
or cotton sill finds is wy here from tlc south ~
way 90. the West, overland, Notwithstanding the
order 81 the Court q King Davis % stop IFS trans
portIiiou. No freight, parcels or money can, 10y
lny Ta--ihiii'y, reach The secession kingdom from ~.
The New Orleans banks I see have refused 20 take
tine Confederate scrip, AMI are quietly AMI secretly
fyrwIrIiug all their -Fer.e Nortn. While the south
has no coin e any Consequence, our banks continue
o. gam specie they cannot hold less than forJy-uiue
millions II coin at the present time
GpseTnmeut i going % make money plenty in the
-tfHa "a inner that banks u, hy large discounts, or
emi-i.ns of bills. wirh.u. i-iu. compelled, ~ the
latter are, 10 specify redeem their Issues, causing IN
ezc---iye striugeHcy, in the place q plethora, "a few
day te:ore. IL = certain that Government cannot
pa, lat circulation It's own ptuer to the amount Of
=25J.pJD,bOO, the whole Of which may be used as
money, without mpartIug an extraordinary activity
o. every kind Of business. Two hundred and fifty
millions of dollars j. a much larger sum than the
bills IN circulation. and the specie held by all the
banks in the l.yai States. Every one can readily
understand what would be the result should the
amount Of such circulation and specie be almost i'll
stlutiy doubled. We DO not say that all Of the
loan authorized Will he used ~ currency. but a very
large portion wIil-quite enough 10 produce all the
results We have predicted.
In looking To the future We assume military sue
cess Of this We cannot doubt. Should this be
what may be reasonably anticipated, We shall have
cotton going forward through IL ordinary channels
IN less than SIX months, giving Us again the trade
resulting from tins article. which makes such an
important figure IN our foreign commerce Govern
ment will be prOtered all the money il asks.
GES. MCCLELLAy Tier, never has been 50 much
quiet and order ia Washington, and all attributable
70 the industry and energy Of the young Commander
In-'hIcf OF the American forces. Glad to hear
what all men have 10 sty-reIdy to receive states
men, editors and politicians, he i careful 10 avoid
committing himself TO a revelation Of i single one
Of his plans. You will observe that nothing has
been printed, either a. To his purpose or his opinions.
His headquarters, At the residence Of Commodore
Wilkes, corner Of Sixteenth and II streets, i thrOng-
ed with visitors, and, although always busy, he l.
always ready to receive infOTnatIOn-uo matter 10y
whom presented.
His confidential aids are regular officers, trained
in many = hard campaign aud he has at his side,
In his father in law, Col K. Il. Marcy, L. :. A., u
safe, experienced, and prudent counsellor. Every
assailible point near the city has been carefully
guarded, with a silence and a rapldIty that have IN
fused confidence into all classes. The life of Gen.
Mcclellan has been a double lite. lie has been an
officer Of the army, and the head Of two great rail-
roads, aud thus he Is equally u soldier and II states
man.
lie is enough of a martinez to insist upon disci-
pline among his men, and sufficiently Il politician to
understand the p%rejudices and interests of the peO-
pie by whom he is surrounded. Hence there is no
doubt that, while taking care to protect the Capital,
he viii exercise a sleeple-s vigilance over the traitors
who nestle ia our midst. The arrest of Faulkner
was undoubtedly one Of his suggestions, aud any
movements from the disatTected population here
pushed forward with uurelenting vigor.
Ii i worth recording that Gen. Mcclellan knows
Davis, Beauregard, Lee and Johnston intimately.
He knows their prejudices, their habits, their theo-
riGs and their abilities, and i therefore their master.
because, occupying a position which will compel
them To advance upon him, he will be enabled 10
wait until they have been exhausted by their own
factions. ami 10y the efficiency of the blockade. 1t
- due TO Gen. Mcclellan to add that no one pays
more deferauce to the opinions os the veteran Lieu
tenant General than he does. lie visits him daily.
-PhIIieIpiiG Press.