The New York herald., 1862-02-26

@AiS AiNA-knVn~ <S~1"tSD VI INC S~u ah's. A~' -
long editorial ON the rebellion. 1t says:-"The
reverses we have lately suffered are scratches on
the skin of the country. They are blows that
arouse. not wounds that weaken. The
few thousand troops we have lost are
but drops in the bucket. The armies
of the United States have TO carry hundred posi-
have to conquer hundred armies like those they
have overcome; they have to march many thou
sand miles of ground; they must win many hard
campaign before they shall have reason to arrive at
the conclusion dictated by their drunken jubilees."
The details of our telegraphic reports of the
European news by the Niagara are published
this morning. They will be found of great im-
portance The advices are dated to the sth instant.
The Earl of Derby delivered speech of great
moment on the American question in the House OF
Lords on the 7th instant. The London Times,
reporting speech made by him on the previous
night made him advocate the recognition of The
rebel confederacy by England. The Earl corrects
this matter very emphatically in these words:-
with reference to the recognition Of the Southern
States, he was reported to have stated that the
ment, her Majesty's government should be called
upon to recognise successful the revolt of the
Southern States; what he did say was, that in his
judgment the time had not arrived at which her
Majesty's government could be called upon to
recognise the independence of the. Southern
States"
The signifcancy of this correction will be mani
fest. 1t places the opposition, of which Lord
Derby is the leader, on the side as tbs minis
try whose views upon the recognition of the rebel
so-cslled government have been recently expressed
by Lord Palmerston and gives the death-blow to
the hopes of the rebel chiefs for aid from the gov
ernment and people of England.
We also give to-day all the important conmuni-
cations relative to our affairs which presented
to Parliament by the Palmerston Cabinet. This
correspondence goes back as far as the 18th
of November, 1860, when the election in the
United States had assured the elevation Of Mr.
Lincoln TO the Presidential chair. All the mo-
mentous events which have occurred in the in
terval are narrated and discussed. There is
long letter addressed to Lord Russell by Messrs.
Yancey. Rost and Mann, urging that the Confede-
rate States were entitled to be regarded as gov
ernment de facto, with other valuable diplomatic
documents.
The Emperor Napoleon. at the Tuileries, con-
graduated Mr.. Dayton, United States Minister at
Paris, on the Union triumph in Kentucky when
Zollicofer was killed. The Emperor showed by
his remarks at the moment that he watched the
march and movements of our army with careful
study and much interest.
CONGRESS.
The Treasury Note bill finally passed both
houses Of Congress yesterday, and was signed by
the President. 1t is, therefore, now the law of the
land, and will Immediately afford relief to the nu-
merous creditors of the government, as well ss
the country at large. The bill as reported by the
Conference Committee. retains a provision that
the issue notes, redeemsblc in five years or paya.
BILE in twenty years, IL at the pleasure of the gov
ernment. 1t also makes duties on imports paya-
bic in coin, and pledges that specifically to the
payment of the interest notes and bonds,
striking out the pledge Of the public lands.
In the Senate on Monday, the joint resolution
providing payment to the st. Joseph and Hannibal
and Pacific railroads (roads which have received
grants of land from the governmentupon condition
that troops and war munitions shall be transported
free of charge), for the transportation Of troops
the roads shall bring in no claims for damages in
future, and then adopted.
In the Senate yesterday, the bill providing for
the occupation and cultivation of cotton lands in
possession of the United States was reported back
by the Committee on Territories, and an amend
ment limiting the appropriation TO twenty thou
sand dollars adopted. The further consideration
of the subject was then postponed, and the bill
was made the special order for to day. The bill
providing for the coniscation of the property Of
rebels was then taken up and discussed at con-
siderable length and finally postponed till to-day.
The bill authorizing the Secretary Of the Treasury
TO issue certificates Of acknowledgment Of debt to
public creditors was passed.
The House of Representatives On Monday passed
the Post Office and Indian Appropriation bills.
resolution was adopted calling upon the President
TO inform the House, if not incompatible with the
public interests, whether any foreign Power has
received into her ports any ship to land prisoners
which they had captured, and whether food and
stores have been furnished at such ports, or ma
chinery permitted 70 be repaired.
The House yesterday transacted large amount
of business. The Senate bill authorizing the
Secretary Of the Treasury TO issue certi.
fostes of indebtedness to public creditors.
was passed. hll smcndatory of the Articles
of War, 40 ~ 20 provide that all officers In the
military service are prohibited from employing
any OF the forces under their respective Commands