The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1862-10-23
The War News.

Although the Calerala brought us six DAYS
later advices from the seat of war, to Oct. 4,
there is nothing very striking reported as having
occurred during that period. The army on the
Potomac under Mcclellan was rapidly crossing
that stream, but the whereabouts of the Rebel
forces are not clearly indicated in the dispatches.
They have heretofore proved so slippery, that we
may Lear of them suddenly turning up again
near Richmond.
On the whole, the Union cause never looked
more encouraging than on the lst of October.
The completion at that date of the ten new Mon
itors, with the four or five iron clad vessels al
ready in service, will constitute a fleet amply suf-
fcient to repUssess the ports of Mobile, Charles
ton, Savannah and any other ports with which
cruisers have thus far carried on trade. Mobile
will be taken possession of first, and may even
ROW be occupied. The ~effectual blockade of all
the ports will do more to cripple the Rebels than
all the army and land movements.
Ire l 900 900 men mastering into service are
not to remain idle, and if well generated, must
soon make an advance southwark. This large
army will probably be in active service during
October. The popularity Of Gen. Mcclellan, the
unanimity with which the army demanded his
restoration rs their commandments and the
firmness of the President in appointing him
against the wishes OF a majority of his cabinet,
augur well for the future. We have always re-
garded him as the fright man in the right
place. His defeat before Richmond is attribu-
table solely to Mcdowell and Stanton, who re-
fused to cooperate with him, and who ought to
have been more promptly dismissed.
Among the foreign news we observe a reported
tender for peace from the Rebels, which is after
wards contradicted as without foundation. There
is likely some ground for the report, and it
may have been thrown out by them officially as
n feeler, to see how the proposition would be
received by the people. The day for peace on
any other terms than unconditional surrender
has passed with the masses at the North, and no
other terms will probably ever be listened to by
them.
The appointment of Eli Thayer as Military
Governor Of Florida, with the avowed object of
colonizing that state with military settlements,
is an important item. The project is to take
10, 600 armed settlers with their families into the
State, give them lands, and locate them as colo
MES. 1t has received the approval of the gov
ernmcnt, but whether it will succeed is a ques-
ton. 1t may be, however, that the entire South
Is to become resettled and colonized after this
same plan. \ farm given free gratis to a settler
is a strong inducement for him to locate in the
new country.
The commercial news shows another advance
in gold and exchange. The rates of gold and
exchange on the first of October were
Gold in New York, 23 "a 2t per cent. premium.
English Exchange. 1874 "a l55 premium.
Exchange in San Francisco, for sight drafts on New York, 10
10 per cent. discount. /
Exchange in San Francisco, on the East payable in gold,
3 "a 1 per cent. premium.
The cause of this advance has probably been a
large new issue of Treasury notes to meet the
expenses of the new levy of 600 900 troops.