Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-12-25

as aunirersaI peaoe party. Sir William Armstrong
need not .chsmpiQn his gunnery if an American
lieutenant il to do with impunity' what the four
great powers OF the Continent combined would Ret
dare to DO with the hum5less vessel under British
colors, that floats the European seas. .-
-----sr --.
Tho Effect OF Ihe News on the Markets.
From the Loasoa TINS, QIoEsz Arsisls3 EoV.2s.
Pie news Of the aggression upon the Royal Nail
COapany's steamer Trent By the United States ship
Of war San JscntO produced an indesCribabIe eject
10 the city this morning. Il trsnspired about the
middle Of the day, up % which time the EnRlish
funds had shown great buoyancy, and after few
70 moments. durIBg which { was deemed almost in
credible, the result on the funds fall Of one
per cent. Ftom this there was rally OF nearly .
haIf per cent, but the market closed with very
unsettled Appearance slthGugh the precise details
Of the act. which are calculated 10 Increase
70 an intense point the feelings with which IL viii
be regarded had net up 10 that hour been pubishgd
The opening quotation OF c0nsOls for the account
was 925 ex-d4Fi9end, at which there were aiterS
wards no buyers AT one o'clock the notes from
the Royal Mail Company began to Circulate, and
rapid fall eusued to a s An impression was then
encouraged thatths particulars Of the Transaction
you'd, on. their receipt, probably show some tea
lures Of mitigation, and, several Of the
parties BY whom speculative sslss had been
effected were disposed 10 realiZs their pro-.
fit, recovery ensHed-t 70 90 8. A large portion
Of the pubic hoTe ever, continued TO regard the act
tQS WoEeELl3uhs ~ n GO0uEulAuOu OF tue
tons solOng given BY M Seward OF his desire TO in
voi7e this country il coils ION at any coast Never
theless an unanimOus confidence is expressed that
our government 90 this on former occasions, will
maintain the national dignity too well to be berray
ed into irritation, and viii pursue with the most
literal exsctitude whstever course may be iDdiCat~
ed By the pFCOedents of International lEN and the
natural rules for tae comfy Of nations. Although
one in the city to day has been able 20 conceive
it possible for any United States warrants TO be
served on bOsrd British ship fer the cspsurs Of
peaeeable passengers not charged with any recOg-
nized crime the Cabipet viii be fully supported
even in .tOierating that act, provided r can be
shown TO be in conformity with the recirrocal Law
between tire two natiOns,-OF nations Of the world
On the other hand, should the proceed
ing be found uDquestionSbiy illegal, there will be
no Limit to the energy with which the country viii
respond to the densDd for the requisite means for
obtaining instant satisfaction, and uphelding the
common principles that regulate and render posi-
bic the intercourse of mankind.
The Liverpool cotton maTks this afternoon closed
in the midst OF great uncertainty and sgitatisu the
possibility Of events that may les6 % speedy rss-
iBg Of the present imperfect blockade of the Cotton
ports being among the coming recognized b.
the operators. ...-... -... ..
Great attention has been aroused in Mincing lane
to day by the fact Of the of the attack on the
Trent having arrived at period when the market
for saltpetre had been si1gulRry attscted By some
recent transactions on American account. Since
have bsen purchased on terms which have caused
rise Of SOS. to 405 per This quantity is about
equal to the entire stock in London, and as there
nothing IN the position of the article 70 lead 70
the expectation of any particular movement, she
affair caused surprise and curiosity. The buyers
gave out -thst, enormous as the quantity was, no
portion Of 1t was likely to be thrown back upon the
market, sud 1t now appears that they were acting
for the Federal Government. As the whole could
not be procured on the spot, portion had TO be
bought for arrival; but the greatest urgency has
been manifested 10 obtain immediate delivery
of as much as possible, and about one thou
sand tons understood TO be az this moment
loading from London, while shipments are likewise
being hurried Oh from Livrp0OL Meanwhile =
further advance has occurred, and the price now
asked IL fOrty-three shiliings. Looking st the
state of affairs now known, the remark this after
noon has been that such sudden, and, under Ordis
nary circumstances, improYident mode Of buying,
seems to denote that the intention Of Offering an
outrage to England such as might render it difa-
cult to obtain supplies hereafter was the cGuse Of
the hasty dispatch of this extraordinary 0rder-Uh
likely that the British Government viii summsrily
prohibit the clearaBee Of such cODtrabsnd Of war
It has also become known that for several r1onths
pass large Quantities of rifles aad Othsr firearms.
amounting to soma hundred thousand, have been
shipped hence to the United States under the desig
nation Of hard wareO and that the business 70
still gcing on. Heuceforth, however, the pu5hc
will not be sstisfed unless the most stringent
trality in favor Of the Northern belligeE;s.
e.. 81 Fsomt-s London ehrenels, Nov. %.
3 -Fbe excitement which prevailed In the city and
in all parts Of Lonaon yesterday on the announce
rnent Of the outrage committed by the Federal
ship-of-war, was most intense. The newspapers
o1ntainine accounts Of the proceedings were par
chased with svidiy, and groups Of persons collect
ed in the streets read the startling news By the
light Of the street lamps to anxious listeners VITO
had not been able to OBTAIN copies for themselves.
On the Stock Exchange and its neighbOrhood many
copies Of the early editions Of the evening papers
were sold az shilling ard even half a crown each.
One universal feeling Of Indignation p-evalled az
the conduct Of The officers of the Federal GsEeru>
th6ut ia thus daring 20 violate the security afforded
BY the British f3g--- Late ia the evening reports
very genaraIly prevailed that his passports had
been sent 70 the American Minister-thaf orders
had been issued for the immediate SEIZURE Of all
American ships in our ports-and variety Of 9th.
er ruuors which it was impossible 70 trace to any
reliable source. Ol 3 matter Of SO much impOr-
lance the government viii Of course, act only after
due deliberation. 10 Liverpool and in the pr0Yin-
eial towns the intelligence was received with the
same feelings Of indignation.