The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-06-12
THE FEDERAL UNION,
1T MUST BE ESERVE


The word I" federal" and the first two letters Of
"Unon" have been Clipped by some rampant REBEL pre-
sentng appearance small hammer had been
raj times struck the obnoxious words very
feeble attempt at DETACHMENT Of the words that grated
harshly on treasons ear.
In THE GAy0so HoTRL.
At the Gayoso Hotel a mixed crowd In which the
long black hair and silky musache prcdominated Tho
destruction Of tho rebel ox the topic Of calm dis
cusson as entered humble and unnoticed In
sation with the clerk he stated that Je Thompson
in the house that morning. aud left town somewhat has
tily He sat on his dapple gray charger the bluff
overlooking the river until no the set captured
destroyed, after which he put spurs to his horse and
rode in pursuit Of the rebel infantry that had been pro-
tecting Memphis. The latter retreated daybrcak
an sasery direction and will probably join some larger
force immortal JEFF When shall gaze upon that faoe
again One year ago tho LIST Of the present month
in Jefferson City, and beheld Sterling Price, Clab Jackson
and Jcf Thompson, fraternay imblbng congenia cock
tails At famous drinking saloon With sight Of either
OF the trio have not since been blessed.
CUTTING DOWN FLAGsTAFF-MRN STABBED.
AT the cotton yard, the edge Of the bluff stood
Dasstaf, to which = Confederate flag nailed. An
immense crowd was gathered there, and threats
made that the nag should not come down. file of
from Of the boats surrounded the staff and it
expected that they would fell it, but for
they returned to the landing without doing In tho
crowd called out, Hurrah for the Union |" and
ut once set upon and badly beaten. Later in the
afternoon two mon stabbed for committing SINH
lar offence, and another cheering for JEFF Davis met like
fate The stabbing, in each instance was quietly done
during the tumult, and it impossible to ascertain
who were the persons that accomplished It, It
display any sympathy for the Union cause not
withstanding the arguments in favor Of loyalty then
lying in front Of their city, with their guns out and
ready for action. About three p NJ company Of in
antry marched to the cotton yard and cut down the
obnoxious stan. was standing Of the transports
tho tme and my accustomed the cheering was
much louder than ordinarily proceeds from single
pany Of soldiers am Of opinion that many in the mul
ttude joined their voices with those Of our men.
MEMPHIS WITH DELIGHr-AS EDITORS OPINION.
While walking in the city in company with several
other journalists encountered one Of the editors Of
Memphis daily paper During short time spent with
him he talked freely about the events Of the day and
year. unhesi atngy declaring his belief in secession,
and time his opposition to tho present rebel
rulers He said that there some Union feeling in
the city, though it would not BIO developed for long
time The people were, many Of them, glad to see u.s.
not they loved the Union but because they per-
eeyed in freedom from the tyrannica rule Of their
authorities. From observation think his words were
true, and IL may readily DO conceived that people
whose property has been tken and destroyed and who
have repeatedly suffered heavy conscrptons to Gil the
ranks OF the army, will look upon Union rule
in days OF Old by far the least Of two evils The re-
opening Of trade with st. Louis and Cincinnati will
speedily convince the Memphans that the Union is not
SO bad after all.
BUSINESS NEUTRALITY-SUSPICIOUS. or PROPERTY.
Business has OF late been exceedingly dull in Memphis
many the stores being closed for the last two three
months The only money in circulation arc the Conrede-
rate bills and the shinpasters Of Southern Cities banks
corporations and individuals The Gotten has been
rsy destroyed by the authorities, except such may
have been concealed and escaped discovery casR Of
molasses left to each and fifteen hogsheads with
prcporonats quantity Of sugar. to each business house
Many cellars and warehouses nevertheless full OF the
sweet staple and lively trade will spring up Not
less than ten thousand bales OF cotton burned
night at the fair grounds and the smoke debris
is still rising II this gigantic peace Offering intended
to win the favor Of John Bull It sad mistake Cor
there considerable fcar THAT its heated odcr will be
stencil in his nostrils Tho OF the cotton
opposed burning but ovsrruled by their ty-
CURRENCY nrcruArsG.
Confederate money commenced rapid depreciation in
Memphis the moment tho fall Of Fort Pillow known.
The order Of Bcauregard visiting proper aud pun
ishent upon all who should attempt TO depreciae the
currency by refusing take IT, prevented Its complete
downfall To-day Is at low ebb in Memphis,
and have several times 1t refused A few
ments ocer buying several dozen copies OF
the Argus send 70 friends in the North. He asked the
dealer what money he wished, and he answered, ~ will
take Tennessee any kind Of money except Confsde.
rate They took 1t yesterday at the Argus ofce but
day they won't have it, and can't buy papers with the
STUFF Several similar occurred during the peram.
bulaions Of The newly arrived. The most Of the small
notes OF the Bank Of Tennessee, and there
siderable Chattanooga and mississippi money in circu.
lation. Gold and silver would buy sugar. molassss and
other commodities low rates. The banks have all re.
moved their specie out Of the city, and Of them
have transferred their entire observation-disclosures
directors and abbey ond the corporate limits Of Mem.
phis Money matters here will be exceedingly dull for
some time 10 come.
There arc number OF river steamers at Memphis l
noticed Al tho levee tho Kentucky the H the Victoria
the National and the Acacia. They have all boon in the
rebel service and two OF them have &C. S. Maiip
painted on their wheehousss Transportation traffic
will spring up with 81 Louis and the boats OF that
city will enjoy the carrying trade The st. Louis and
Memphis Packet Line for several years running tr-
weekly boats between the two places displayed true
Yankee enterprise In sending through the Plasts Valley
boat just in the Of the feet which threw out s
plank az the city fairly taken The trip was
not for purposes Of GAIN for the Platte Valley took
no freight and few passengers either way but solely for
the honor Of making the first visit TO Memphis after the
fourteen months blockade broken. The officers OF
| the Platte Valley a. follows:-
Cdptain--Conrad Fink.
| C1erk--J. Jewett Wilcox.
Fyra Md,e-wls Beebe.
Second Mote-John Cameron.
Pilots--John Haloy and Isaiah Hood.
Mail Agsnt-E. Maxwell
The Platte Valley is the first Of five boats Of the line,
and will proceed st. Louis 10 load for this city
Her enterprise in making the FIRST trip after the opening
| Of the river onght'to her large patronage
The only boats that have Of the large number lcfS
South when the embargo last year laid at Cairo are
tho five captured yesterday and to-day and those taken
time since at Island No TO- The destruction loss
at Island No 10 and New Orleans have reduced the avaa.
bic in the confederacy worry small number