, 1865-04-28

(FrOm the Times Correspondents
NEW YORK, MARCH II.

wv 4NOC
withstandlng all previous intimations, and
the obvious necessity for reinforcing the
Federal armies if the war is to be vigo-
rously pushed, the final announcement
that proceedings had already commenced
took the public by surprise. The sur
prise, however, it must be added, is not
accompanied by much alarm. The be-
lief Is so prevalent hat the war approaches
its end, that Richmond cannot hold out
for another month, that if General Lee
be not driven out he will be starved out
by the occupation or destruction Of his
lines of supply, and that the occupation
OF the Confederate capital by Grant or
Sherman whatever may be the fate of
Lees army, will virtually restore the
Union and obviate the necessity Of any
future fighting, except against q few
scattered guerilIas, that the draughted
men look upon the prospect before them
without the dread which the mere men
ton of a co~nscription excited in the sum
mer of 1868. The Government has sa-
gaclousIy taken advantage Of the state Of
feeling to render the draught more paIa-
table, and declared its intention to treat
every cOnScript, as far as bounty money
is concerned, exactly as if he were a yo-
l~unteer. In addition to this mode of
breaking the weight of the unwelcome
lnt1lctlon, it has ordered that double the
number OF men required to fill the QuOt0
of New York shall be draughted, or
10000 instead of 1900. BY this means
two persons are interested in procuring
one substitute. In consequence the price
- N,I14I+,14 -. h., -S.,. .-., H.
instances as much as $1,000 or $4,000
has been paid by rich men for a duly
qualified deputy OF the battlefield. The
poor, aware of the efforts thus made, ana
pacified by the assurance that although
the draught be nominally, it viii not be
actually, enforced, if volunteering provide
the requisite $4,000 men within any rea-
sonable period, resign themselves TO the
comfortable conviction that if the worst
comes to the worst no man with d family
who does not wish to become a soldier
will be torn from his home, and that the
country, the city, or private munifcence
will find the means to rescue him.
The arrival of Sherman at Fayetteville
unopposed, and with his whole army in
good health and spirits, and the general,
~ IdFOuIdUI6 CIldIdCIcI Ol LlG War news
from every quarter of the strategic hori-
zon, continues to fill the non-speculatiye
and non-gambling portion Of the public
with delight. In commercial circles,
however, there is wailing and gnashing
of teeth. The clears are in ecstacies,
and the 'buiis" roar with rage and vexa-
ton. Since the beginning of the present
year, or from the Sd of January, when
gold was at $50, until to-day, when it
touched 159, there has been a fall in the
premium of no less than II per cent,
mainly caused by the Federal successes
consequent upon the capture of Atlanta,
the unexpected march Of General Sher-
man to Savannah, and the whole chain
of military events which have since that
time totally changed the aspect and the
conditions of the war. Large failures
have taken place in Philadelphia and
New York-principally in the produce
trade ; and to-day in this city there is
something nearly approaching a panic in
Wail-street, WNiIIlliana-stroe Exchange-