The New York herald., 1878-03-31

eng sIo.ooo cartl The Il ,ssians for
bdden the ca. ne L,wer Danube.
mAap rIunriNG ooiNG on.
An official Telegram from yolo announces that
fierce lighting has occurred at Macrinitza between the
insurgents and Turks. Several Turkish ships arc
bombardipg the villages the coast
MAR
Tho British iron turret ship Devastation and
corvette Ruby are cruising along the coast OF Mace
donia for the purpose Of rescuing refugee and
children.
FINANCES
Tho Economist says :-''ln some quarters discount
business Is done ut 2s cent bu. OF the lead
ing banks refuse business under threo per cent
Confidence In peace, which hitherto sustained prices
OF stocks, has this week been greatly shaken, and
severe tall resulted in most OF the leading securities
A SHARP RELAPSE.
son Saturday last. when IT was reported that
Russia required tho withdrawal OF the English fleet
from the Sea Of Marmora, there sharp relapse.
On Monday there was slight renewal OF agitation,
although the closing OF some speculative account
caused rally In the afternoon. This operation
moro fully at work Tuesday, when active prepa-
rations were mado to meet the halt monthly set.
tlement, which commenced on tho following morning
SECURITIES.
''Priccs OF home securities Tuesday showed gen.
cra strength although the foreign departments
weighted by the persistent decline which was
corded on the Continental boursea On Wednesday
however, there was large withdrawal OF gold from
the Bank, and, with the commencement oi the carry
ing over OF ira usactons TO the next account money
found less readily obtainablc. Besides which
the chances Of the assembling Of the Congress- werc
considered less hopeful. and prices recedcd though
not 10 any considerable exteut On Thursday thero
a M cd change or he Worse
ABANDONMENT CONGRESS-
at then for the hrsl time stood that tho
Congress definitely abandoned, ana the rise which
took place In the Bank OF Engands ratio OF discount
added TO tho general depression. Large orders sell
came from tho Continent and as thero wero no
buyers here prices fell more aud more, and closed at
the lowest points. Lord Dcrby's retirement and the
proposal to call the reserve forces still
known, and not til Friday was tho significance OF
these changes realized
FURTHER COMPLICATIONS
Operations were complicated by tho completion Of
the settlement the preiminares Of which had happily
boen arranged before the fall came, otherwise the
consequences would have probably been very serious
As II is, the markets have been In state Of panic
Until quito recently tho Continental bourses have be-
lieved In peace as much, or more, than we, and at
Berlin especially, Russian securities have always
found favor The consequence is that this crisis falls
very heavily on the Continental markets, and their
endeavors to soil hero what they have previously
taken from us have aided tho general collapse
EXCHANGE
The London Stock Exchange was Quieter yester-
day afternoon and much frmer, with a considerable
recovery In prices.
GENERAL GRANTS RECEPTION
The Pope received ex President Grant, his wife and
son yesterday. N. Chalard, rector OF the American
College, awaited General Grant in the hall OF the swiss
Guard and accompanied him to the Pope's apartments
where Cardinal McCloskey presented him to the Pope
who received him with every mark OF distinction.
PApAcY.
The Times Rome correspondent tclegraphs as fol-.
lows Pope Lco's aliocution delivered at the Con-
sstory Thursday gives the Italians general salts.
faction The alluson to tho Churchs captivity very
mild. HIS Holiness expressed no intention to strug
gc for the recovery OF his temperatures. Tho man
OF tho allocuton Ia LAID the relations which
1t Is intended should exist between the Pope and the
CARDINALS. Tho Sacred College typifes tho Council Of
Seventy called by Moses to BIO bis assistants and I'D.
visers In the government Of tho people OF Israel
CONFIDENCE CARDINALS
"Hs wishes tho cardinals to bo his bystandars and
feow-abor ers, and, lest II should be thought that
merely unmcanng words fell from his lips, he ex.
presses all the reliance he puts their wise counsel
trusting and begging that II may never fail him. Il
the dearest wish OF the Council OF Trent that
tho administration Of the Universal Church should
rest the Council OF Cardinals Ths says the Times
correspondent, Is cloar hint Of return TO tho old
constitution of the Church, AMI tho reference to the
Council Of Trent plainly intended n repeal OF
the act OF the Vatican Council which by declaring
Pope Plus TX. nfallibe entitled him to dispense with
the advice OF either tho College or Council
MANY
sro the Vatican Synod ITSELF to tho proclamation Of
the dogma Of In allIbiy Of that OF the lin maculate
conception aud all the acts OF Plus TX except the
roconstiuon Of tho Scottish hierarchy, no allusion
whatever occurs In the ai,ocui ion. Tho acts Of
the deceased Pope have been sanctioned by
the Church and must stand but Popo Leo
sooms to think that the least said about them will DO
the soonest mcnded. BY his choice OF Cardinal di
Pietro. one OF tho youngest and decidedly most
liberal OF the cardinsls Camcrengo tho Pope con.
firms the hope OF those conciliatory views which
were always thought TO animate him aud which were
civil powers
TIE GERMAN MINISTRY.
The appointments Of Count Won Eulenburg, nephew
Of Count +. A. Won Euenburg, the former Minister to
the Ministry OF the Interior; Herr Maybach to tho
Ministry OF Commerce. Herr Hobrccht to the Ministry
o Finance and Dr. Achenbach to tho Governorship Of
West Prussia are gazettcd
TnH POLITICAL CRISIS ! AUSTRALIA
The political crisis at Melbourne has terminated.
The legislative Council passed bill for tho payment
OF the members OF the Assembly, whcreupon the As
sembly passed the Appropriation act without that
item.
GOOD WEATHER.
M xraa her In ho mol "a voat ordo 0un