The New York herald., 1862-03-20

the Union advance-both land forces and gun
boats-t is not probable that after the capture OF
Island Number Ten takes place. the rebel Genera'
can hope to make good his stand at any po'n'
farther down, and maintain 1t for any length Oh
time.
By the Anglo-Saxon at Portland, yesterday we
have received telegraphic and newspaper repor's
from Europe to the 7th of March, five days later
In the interim from the sailing of the Africa on
the I'd instant the English people and Cabinet OBJ.
tanned the intelligence of the victory of the Union
troops at Fort Donelson-the grand turning point
of the war against the rebellion. The effect in
favor of the Union cause was very marked 1t was
first displayed by an advance in all descriptions Of
American stocks and United States securties IL
linois Central, Erie and New York Central shares,
with United States fives, going up at once. They
remained buoyant at the close on the 7th instant
Cotton declined from the same cause, and remain
ed at the reduction.
The political influence of the news was evloenceo
by the institution of An active canvass in the Lon
don journals of the probability of speedy termi
nation or settlement of the war. All the late va
poring about lighting to exhaustion" and an
'ndefnite struggle" seems to have been dispelled,
in o wholesome manner, to very great extent
The London Times fully admits the success of our
forces, but expresses the convicton-or rather its
own hope-that our government was not any
nearer to . reconstruction Of the Union" The
London Post had commenced to moot the idea of
a settlement" between the United States and the
rebelIous South, fact which demonstrates that
Lord Palmerston's opinion in the abilities OF the
Davis junta to maintain itself was not very abiding.
The Lieutenant Myers, Of the privateer Sumter
who was arrested by the Moorish officers at Tan
giers, had been released. A gentleman named
Thompson, of Cadiz, who was made prisoner at
the same time, was also set free.
Lord Palmerston stated in Parliament that
during the discussion of the Trent affair, it was at
first intended to send much larger reinforcement
to Canada but that the "vigor and power" dis
played by the British government facilitated
peaceful solution of the American question, and
rendered the full measure unnecessary.
The English steamer Bermuda left Liverpool on
the LIST instant, with assorted cargo, described
as hardware" but supposed to be in reality
freight of war material for the rebels. The
blockadng squadron should keep q sharp lookout
for this valuable prize.
CONGRESS-.
In the Senate yesterday, petitions in favor of
emancipation we're presented. Mr.. King offered
Joint resolution to admit, free of duty, arms i'm
ported by States, but, on being informed that q
bill to the same purpose was being prepared with.
drew it. The bill securing pay, bounty and PEN
sions to soldiers of the Western Department was
passed. bill to provide for the public defence,
and accepting loans for that object from States,
was introduced and referred. Resolutions Of the
Iowa Legislature relative to sickness among the
soldiers from that State were presented. re-
solution was reported from the Naval Committee
authorizing the President to place in active service
naval officers now on the retired list. The bill
for the organization Of army corps was debated
and passed. The bill for the abolition of slavery
in the District of Columbia was taken up, and Mr..
Doolttle proceeded to speak in its favor. The sub
ject was further debated, after which the Senate
held an executive session and then adjourned.
In the House of Representatives the entire day.
session was taken up in considering the Tax bill.
All the general provisions-forty in number-werc
acted upon, but no important amendments were
made. proposition was made to exempt slaves
from taxation, and On this short debate sprung
up as to the question of property in slaves. The
tax on spirtuous liquors, aes, &C., was consider
ed, but no progress was made on this branch of
the bill, and the House adjourned.
MISCELLANEOUS NEWS.
The steamship Anglo-Saxon, from Liverpool on
the 9th and Londonderry the 7th instant, reached
Portland early yesterday morning. Her news re-
port is five days later than that brought by the
Africa to New York.
Consols rated at 93A for money in London on the
7th of March. American securities were buoyant
at an advance. The bullion in the Bank of Eng
land decreased 1875 900 in the week. The Liver
pool cotton market de- lined from one eighth to
one-fourth of a penny on the 9Th, and remained
dull with prices downward, IN the 7th instant
Breadstuifs were easy and provisions dull.
George Peabody, the banker, was about to quit
England for time. II is said that his fortune
amount TO 1915 600 per annur. lie offers to give
$4,000 70 lie fund now destined to erect memo
rial to Prince Albert, provided it is directed to the
building OF charitable institution. Should the
directors refuse, Mr. Peabody will expend his
money in building houses for the working classes
in 0ndor
from Ch.oa we learn tha until the 23d Of ia.
nrary. starghae was invested by the rebels The
Eur pean s'iied Consuls had declared the city to
be undrr iho.r prot, lion.
Our au,.ces nom australia are d. ed at Sydney
the 2lst and Nj sourne the 2cth of January
Trade was quiet in both places The markets
were firm in Sydney.
The City of Baltimore, which left New York on
tho 1etb of Februarv for LiyerpooI had MOI a..