The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1864-10-08
THE PACIFIC
Commercial Advertiser.


lnat winch cahe ny TIC
-4k.rsSal on Wednesday, is of the same cheer
! ing tenor as that received for the previous
month-the prospect of peace, through victory,
brightens with each new arrival On any other
terms, peace is not wanted. because it would
prove only a false peace-tbe prelude to more
sanguinary warfare than the present. The man
who still believes that the rebellion may succeed
has the faith and forlorn hope Of a Buddhist
martyr.
Read Grants letter. That short document,
written in a plain, earnest and commonsense
style, which every man can understand, will
carry more weight throughout the North than a
dozen pr~oclamations of President Lincoln or any
! other man. Who than Grant has better means
to know or can more truthfully assert " that The
Rebels hare noO IN their ranks their last man."
And when the assurance comes from the Com
mander-i in Chief that their army is being re-
duced at the rate of . at least one regiment per
day. could anything be uttered from any source
to inspire greater confidence not only at the
Z North, but with the whole world. His appeal
to the people-"J we ioiH only be true TO our
setces'-right from the lips of the Lieutenant
General Of the nation, breathing earnestness and
warmth, will break up the councils of treason,
and make the American people again a unit.
That letter should remove every doubt with doubt
ers, and will everywhere inspire confidence in
the strength, stability, and ultimate victory of
the government.
No wonder that the price of gold goes tum-
bling down at such a rate, from 260 to $50, then
240. then 226, and lastly 219, as reported by the
latest kilograms. Where it will stop is uncer-
tain, but probably not above 200, if even there.
The bubble has burst, and gold must continue
to fall, as we have several times lately stated it
would. The causes are clearly apparent, and
may be repeated
lst. European capitalists have gained such conf
depce in the stability of the government. that they
are now anxiously supplying its funds, sending gold
over the water by millions. for which they find the
best investment in the worid-12 toll per cent. per
annum for their money, instead Of three or four per
ceEt- in Europe.
u. The new Treasurer, Fessenden, is withdraw
ing the " greenbacks'' from circulation, which re-
lleveS the money market at once, to whatever extent
it is done.
Sd. The recent victories, accompanied with a belief
in a speedy termination of the war, tend to restore
gold TO its legitimate standard.
If no unforeseen occurrence happens to dis
turb the money market in New York, gold must
continue to decline, The extent and rapidity de-
pending on the continuance Of the above causes.
The war news received covers an interval of
only three or four days. Before Petersburg,
both armies were preparing for another struggle
for the possession of the Weldon Railroad. The
rebels at present are obliged to receive their sup
plies by wagons drawn from Stony Creek Court
House go miles south of Petersburg) by turn
pike roads, which involves delay and increased
men and materials. The loss of the railroad is
a severe one, and a hard battle for its reposses-
sion was probably fought between September Is.
and Both, news of which may come to hand by
the next mail.
Respecting the reported capture of Mobile.
there is room to doubt. The reports come
through rebel sources, and may be true. 1t
seems that the Union land troops landed at
Cedar Point, which is 25 miles from Mobile, on
the west side of the bay, prior to the 3Oth of
August. OF this, official notice was published.
As there were no rebel troops stationed on that
road, nor any Notifications, till near the city,
and as the distance is only one or two days
it is possible that the forces sent were
sufficiently strong to capture the city. If true,
it secures another step towards peace.
In other quarters, very little has occurred
worthy of comment. In Mexico, Macmillan is
ground, and the most reliable accounts
state that the rev government is popular with
the masses. and promises to result in the general
Of the nation, although portions of the
country will continue in open warfare, as they
have been for twenty years.
From Europe the news is extremely meager,
and beyond some rivalry or jealousy between
Prussia and Austria, in the division of the spoils
acquired in the late war with Denmark, all is
quiet. Considerable discussion is had regarding
the legality of the seizure of the Georgia, sup
posed to be a confederate pirate. That vessel
has been sent to New York, where her case will
be tried. If it is shown that she had been
sold in Liverpool, and ,cas not armed at
he time of her capture, she will unquestionably be
restored to her owners. But the very fact that
'he had been in sach service, was sufficient to
Justify her capture. The rebels have resorted to
20 many subterfuges, with their pirate cruisers,
to evade seizure by the British and American
authorities, and have so often deceived them and
lnarmed merchantmen by hosting false c~oIors,
hat it is full time an example was made.