The New York herald., 1862-02-21


AIRY i5 was 1888 decrease of 50 on the preced
ing week.
In the General Sessions yesterday, Recorder
Holman decided to admit John Reynolds to bail in
the sum of 5000. he beng under arrest for the
alleged killing Of Pat. Mathews. Winston and
Skully, who were present at the occurrence, were
admitted to bail in the sum Of 81 900 each. John
Sullivan tried and convicted OF forgery in the
second degree, having passed IS counterfeit bill
| ON the Bank of Newark. New Yo''. lie was
sent to the State Prison for five years and two
months. Maria Revolt was convicted of stealing
| S43 from Martin Kent. 3Sl Water street, on
February 10. Rosanna Griffin pleaded guilty to an
attempt to steal $50 from Jane Armstrong on
February 10. William Kelly pleaded guilty to
grand larceny in stealing piece of cloth, valued
| at $S5. owned by Caleb r. Brundage, ll6 Clinton
street, on the 5th inst. These prisoners were re-
manded for sentence. The jury in the case Of
James j. Wall, tried for the murder of Owen
PheIan, who had been locked up for the night,
were brought into court in the afternoon and after
further instruction upon the law they retired to
their room. After short absence they rendered
verdict of manslaughter in the second degree.
Wall was remanded for sentence
The cotton market continued TO be somewhat irregular
dencs The sales footed up about 500 bales separate
lots, chiefly to spinners. Prices varied materially be-
tween sales pressed for cash and sales time Small
lots reported at q &c. cash, with sales
on fifteen days time, at 24i.c. for middDg up
lands. Lots transit from Liverpool were heavy,
and difficult Of sale to arrive, except at low
figures. The range Of the market for the day cash
and time sales from 81 &c. to 241sc, with little
strict middling be had under Csc, usual time Flour
rate sales Wheat was heavy and dull and sales quite
light. Corn in fair demand, with sales Of Western
mixed store and delivered at 6sc. 6lc and prime
do, delivered a. &C. Pork steady, with sales Of
The spot at SIS sT15 $14 and for June de-
livery at $l4 25. New prime was at 80 SIX $40.
Sugars steady, with sales OF 900 bids. and 500
boxes and 900 bags terms given in another place
tofee steady with light sales. Frsights un
changed and engagements moderate
The Inauguration of Jen. Davis-Rich-
mond Under q Cloud.
Tomorrow, the anniversary of the birth of
the immortal Washington, will be day of
jubilee in our federal capital and throughout
our loyal States in honor of the recent brilliant
victories which, East and West, have crowned
the fleets and armies of the Union. Strangely
enough, too, the day will also be celebrated
with very unusual ceremonies at the city of
Richmond, in the Inauguration Of JEFF. Davis as
President of the so-called Confederate States"
Upon this subject the letter which we pub
lish this morning from our intelligent Balti-
more correspondent is very interesting It
thus appears that ''the most extensive prepare
tions had been made" for this aforesaid ina,l-
guration; that 1.-THE ceremony was to have been
performed with all the pomp and splendor that
could be devised" that "a military parade and
banquet were to have added to the attractions
of the occasion;'' and that "a grand ball was to
have concluded the festivities of the day" But
it appears that all this magnificent programme
has been suddenly changed; that, in view of the
late disastrous defeats of the rebels "the cere-
mony ia to be of the simplest kind, without
pomp or parade" or banquet or ball. The
Inauguration of Dayis, therefore, will be a
gloomy affair. and his new honOrs as the regl-
lar President, for six years, of the permanent
government of his Southern confederacy. will
be recognized by himself and his surrounding
devotees as a miserable mockery, "a dclusion
and snare
1t further appears that since the fall Of Fort
Doneson the rebels at Richmond are sppre-
hensive of the loss of Nashville are discussing
the expediency of abandoning Columbus and
Kentucky, but have no notion of falling back
from the line Of the Potomac. In this connec-
ton our correspondent informs us that the
whole of the rebel army Of the Potomac, with
few exceptions. have re-enlisted for the war
under extraordinary inducements and short
furloughs whenever practicable, and that the
rebel leaders believe in their ability 10 hold
the whole of Eastern Virginia, and the Cumber-
land Gap in East Tennessee.
Now while we have every reason TO believe
this information. and that such assurances have
been promulgated from the rebel leaders III
Richmond to prevent the Generalization Of
their troops in Virginia and precipitatc Union
reaction among the people Of that State. it is
very probable that the first business of JEFF
Davis and his permanent government" at Rich
mend will be the ways and means for removing
it and its supporting army and its materials Of
war southward, and for the permanent evacua-
ton of Virginia, Kentucky, and the considera-
ton Of the probable necessity of some deicn-
Carolina.
In any event the backbone Of the rebellion
is broken, and the only possible hope Of escape
now to the people of the South from the
wasting subjugation Of invading hostile armies
IS submission to the Union. Let the Union men
of the revolted States meet at once, compare
notes, rally their friends. and rise in body in
general organized movement against Davis
and his principal ruling confederates, arrest
them, hang them up or turn them out of the
country, and the integrity Of Southern institu-
tions may still be saved, by restoring them to
the good old ark of the Union. An early and
unconditional submission of the rebellious
South to the Union is the only living chance for
the preservation of the slave system and the
| cotton culture of the cotton States from the