The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1863-08-20
THE PACIFIC
Commercial Advertiser.
Foreign Selections.

1are-,o improve our plans and organization-to
correct our early mistakes-to grow In fighting
capacity and knowledge Of the art Of war. The strife
has bred its own Generals-men capable OF hand.
ling large armies, and Of exhausring the resources OF
attack and defense. We have no Napoeon-fOr such
Generals are century plants. Old Europe, with her
chronic wars and huge armies cannot boast OF a
General Of a higher order Of ability than SouIt or
Dessaix. Allowance must be made. also. Tor the
natural difficulties Of the country, the lack OF topo-
graphical knowledge, and the use OF ne" artIery,
requiring special study. Our infantry, cavalry ana
artillery will now, We think. stand the test II com
parisOn with any in the world. Inc foreigner mas
ceased 10 sheer at our "skIrmishes," and begun to
prois-r against the terribly destructive character Of
the battles fought. As for plantation opinion OF the
cap city of free States to sustain a protracted war
without financial ruin, to Withstand the array OF
Southern steel" to send horsemen into the field
able 10 meet the troopers Of Stuart, TO tight success
fully beyond the cover of %gunboats, and to ~subjugate
traitors. We imagine there has been a mighty, but
tardy, revuIsiOn. But one battle has been fought
upon Northern soil. Southern cities, carefully fortI-
fed aud defended, have been captured and held.
Our cavalry have defeated Stuart's hOrsemen in a
dozen fights and raided the South in n style never
equaled by the enemy. We have repeatedly attacked
aud driven the foe from the strongest positions, and
the majority Of the battles fought in the open held
have terminated in National victories Finally,
while the slave States have been devastated, and
their power Of raising armies exhausted, the free
States have maintained peace within their borders,
enjoyed an extraordinary degree Of prosperity, aud
shown that, should the emergency require il, they
can put another army in the field ~ournumbering the
huge masses of the past and present campaigns. a
more decisive vindicatiOn Of democratic institutions
could not be desir q. Beue6cent ia peace. they
have demonstrated their tendency to strengthen the
sineWs OF war. %%~F-S0c. Union.
TnE REBEL FIxASCEs-Some Of the rebel newspa-
pers are pricking the bubble OF Memminger's hnan-
ciaI policy, the Montgomery Gala } -AdUeTtiser being
foremost among them. Ii pronOuhces the condition
Of the Confederate finances as desperate beyond ex-
preston, and puts the case thus:
In order TO show by comparison the almost
deSuRFarp eOuIIrIgn of Our finances under MemmIu0-
er's policy. let Us suppose n single transaction in
exchange with London for e2O, 900 STERLING
Amount on cash deposit in London 10000 or......sI 800 900
Premium on exchange =. to
The British eapttalisi then invests his principal and profits
= : Se,sS%s; s1soO 600
100000
Leaving the sum of $500. 900 as operating aud
Specializing capital with which 20 run the blockade,
take shares in railroads, buy bank stocks, etc.
This twenty thousand pounds in London cas- be
made and Is being made the means OF draining the
South Of seven hundred thousand dollars taxable
wealth. This dreadful tribute we are now paying
for every dollar expended in Europe for necessary
foreign supplies, and the domestic products of the
country. acting in sympathy with this depreciation
OF currency, are sold to the Government at equally
ind lJed prices. And thus. with a smaller civil and
military establishment than the North, and with n
more economical administration Of affairs, the ex-
penses OF the Confederate Government are nearly
double those Of the United States. However we may
deceive ourselves, we cannot deceive The world in
regard to these facts. The continuance Of the war
for two or three years longer will create n public debt
the interest of which cannot be paid even at four per
cent.
The Montgomery editor further complains that
while the Southern States are bleeding at this fearful
rate AZ home and abroad, the manufactures OF New
England never carried on a more lucrative trade
with the South than they are now doing. and winds
up with the sage remark the worst use TO which
you can put q bale of cotton is to bisrn it.
REBEL PIRATES AND THEIR .. RASsoM BosDs."-
Some OF the London journals, IN the chipping interest,
have of late been earnestly discussing the effect of
the ransom bonds exacted by the CJnfederate priva-
teers for vessels captured under 'lle Federal flag.
The following Is from the Shipping Gazette, a
respectable authority in such matters
Ransom bonds are, according 80 British law,
Illegal, aud no person claiming on f+ce OF such bonds
would haze a locus staHdi in our: courts. In the
event. therefore, Of such q bond beiBg given, and the
amount recovered in America, it istquite clear that
the party satisfying the bond-thats Is, the owner of
the shIp-cOuld not prosecute a cl:;m in respect to
such u bond IN this country agains< the freight and
cargo. The American law recognizes ransom bonds,
and the French law regards any consideration given
TO relieve our ransom ships and goods as coming
under the head OF General AveraSe The owner,
therefore,. OF the Federal ship, wso had satisfied
the bond given by his captain :, a confederate
cruiser, might regard the paymetG as constituting
an indefeasiole ground of Generss Average, and
proceed TO establish his claim theron. The law of
General Average Is founded upon a eurely equitable
princIple-namely, that wherever sacrifice Is made
IN the course OF n voyage, for the b~Ieit of ship and
cargo, all parties TO the venture sb+-i contribute pro
rata. Now, n bond given TO pro;er the destruction
Of Il ship aud cargo, UheE paid. constitutes unques-
tOuaDly such = sacrifice, ana. therefore, IL ~ good
ground Of General Average. IL does not affect the
principle. which underlIes the law 1t General Az
erige. that there Is "A difficulty in rendering all the
parties 10 the venture liable To contribute We
assume that the honorable understanding, without
which commerce could not be carried on amongst the
communities Of civilized States, would, in such n
case. supply the want of legal obligation. and that
the owners and underwriters in tnis country, of "A
cargo which had escaped destruction by means of a
ransom bond, would not hesitate. upon being saris6-
ell that the bond had been enforced, TO admit the
payment rs a General Average act, and TO contribute
accordingly. To assume that this would not be so
EUuli DE. we feel. To do u gratuitouS dIscredIt TO the
reputation of our merchants AMI under writer's.
Gases have arisen, since the outbreak of the Ameri-
can war. where those ransom BON : have protected
British interests, and have enabled saluabe consign-
meats 10 reach this country which would otherwise
~infiIHbly have disappeared IN the waters of the
Atlantic.
y Coop SToRY.-In the Editors Drawer of Har-
per's -NOgaziae we find the following good story of
Illinois sYliiers and an Illinois CuICuel-the latter,
Col. OgIesby, well known to fame
"WeII, one day mis- fife and drum majors went out
into the woods to practice "A new tune. Attracted, no
doubt. by the melody, 4 hne fat shOat of musical
proclivities came near-alas for the safety of his
bacon, too near-for our bass drummer by a
. change OF base made a base attack on his front;
whiI.ethe liter by a bold and rapid movement charged
him in the rear. Twas soon over; = few well direct
ed volleys of clubs and other persuasives we're
applied, and piggy went dead again-a martyr to
pork into camp? That's what's the NATTER now.
After considerable discussion an idea strikes the
drummer mot so hard as TO hurt him) We will
put him in the drum just the thing, by hockey =