The New York Herald Newspaper, November 25, 1854, Page 4

ser an od or x St ed ete wm ce haremeres ~ Penvor» ances. JaMES GORDO PROPRIETOR AND EDITOR, @uricr X. W. CORNER OF NASSAU AND FULTON STS, TERMS, cash in . ; adeance. ° 2 annum. Fa VALE ARAL cents pr cory St, per annum. | ‘uaumn: the Europes. Baition #4 per annem, ry Sry di Hiatsin, ‘and $8 to any part af the Con: Bment. to le LETTERS by Moll for Subscriptions or with Adver- pe ¥ fab pst po or the dectape Cid edetamed from “VOLUNTARY CORRESPONDENCE, containing impor- haat neve, solicited from any quarter of the weorld—i/ ised will be nity pod for. sgrOun Porsian Sonansron>. AL abe Lat AMUSEMENTS THIS EVENING. ACADEMY OF MUSIC, Fourteenth street—Lucrezta Bonoia. BROADWAY THEATRE, Brosdway—Favervs—Anro- mY Ard CreoraTRa. BOWERY THEATRE, Bowery—Aftorn0on—Equesraraw Evening EquesTRianism ~PERsRoU- ‘sep Dotcuman - Jor iv Lonvos. HIBLO’S GARDEN, Broadway—Tux Syren, BURTON'S, Chambers street;-Urrar Tex axn Lowen Twenty—Tae or a Tun. FATIONAL THEATRE, Chatham street—Baraw Bor- @rsux—-Ev ByDeR—Dxvit's DAUGHTER. WALLACK’S THEATRI Two Can Pray at Tuar M&TROPOLITAN THEATRE, Brosdway—Huxcunacn— MarsAine. AMERICAN MUSEUM—Afternoon aud Evoning—Hen- Batre. WOOD'S VARIETIES—Meohanics’ Hall, 472 Broadway. BUCKLEY'S OPERA HOUSE, 539 Broadway—Buox- asv's Eruiovian Orena TROUPY. Broadway—Hain ar Law— AME. WOOD'S MINSTRELS—Minstro) Hall, 444 Broadway. CASTLE GARDEN—Equarstniay Prrgonmance. Now ro York, Saturday, November 25, 185: To Delinquent Agents. Delinquent agents to thisestablishment are informed #hat unless they immediately settle up their accounts, more suitable persons will be appointed in their places. Persons wishing to become agents of the New Yorke Henary will be supplied from this establishment Promptly, and at the usual rates—toenty-five per cent @iscount, cash, in advance. Agents ia the country, dealing with city agents, will find it to their advantage to send their orders direct to ‘the office of this phper. JAMES GORDON BENNETT. Mails for Europe. wSW YORK ERRALD--EDITION FOR EUROPE. ‘ee Collins mafi steamship Atlantic, Capt. West, will ave New York to-llay at 12 o'clock for Liverpool. ‘The European mails -vill close in this city at halfpast ten o’cloc': this morning The Hixxat (printed in French and English) will be yrblished at 10 o'clock in the morning. Single copies, in | wrappers, sixpence. Babseriptions and advertisements for any edition of the New Youx Hunarp will be received at the following glares in Europe >— vhn Hunter, "No. 2. Paradise street. dwards, Sandford & Co., No. 17 Cornhill. ‘Wm. Thomas & Co., No. 19 Catherine street, “Livingston, Wells & Co., 8 Place de la Bourse, Pans. The contents of the European edition of the Hrraty | the United States Senate by the Le islature of North | P wi embrace the news received by mail and telegraph at fhe office during the previous week, and to the hour of publication. The News. ‘The steamship George Law srrived last evening, a | nomination of a successor of Gen. Pierce. sand dollars, chiefly invured *. inis city, The log of her voyage 1a pablisbe”, t9 another column. The Know Nothin’, Nasiona’ Convention at Qin- cirnati baving gomple'ed the busicess for which it wa8 Cerve. ed, adjourns ty-dey, efter a session of two weeks, as we a 2 informed by s telegrapiic | despatch. The deliberations were confined to the | revision of the obligations and para words of the | | order, the nominstion of a candida’e for the Presi- | dency no’ having been among the subjects consider: | | ed. This may bs so. Ba: itts bighly probable that, | ima convention compose) o° de'e.a'es from every | State im the U» op, inclading John M. Clayton, Daniel Ullman, J cob Broome, aid Judge Conrad, some understanding was arrived at respecting the | Another catastrophe has occurred, resembling in some respects that wh'ch befel the steamship Arc- tic. The steamshi Canada, from Liverpo»' for | | Boetop, when about twenty mles from the latter | | port, abou’ five o’c'ock last evening, ca ne in con- tact with the steamer Ocean, from Bo ton for Hal: lowell, Me., striking her amids is. The Ocean | tock fle,and shorty after hir ‘oiler exploded, Our telegraph’c account of t'e disaster fur- nishes xo informa'ion reepectiny the man- | ner ot the collison. ‘hree « ‘'e pis sepgers of the Ocean wer: dro ned, and the remain‘er (eighty ‘nm aumber,) were rescued by | other veascls, and taken to Boston. The steamer, a | | fine vessel, with a large freig t on board, is, of | course, @ total loss. As to the amount of injary | sustained by t-e Can.da we re not informed; but | | from the circumstance that she anchored in the harbor, and that a steamer was sent to convey her | mails and paseengers to the city, we infer that she ruffered séme damoge, though providentially no | lives were los‘. In another part of today’s paper miy be found an account of the eeizure, by the officials at Baracoa, | of thetwo Americaa schooners to which of late frequent allus‘on has been mad in the public print, but concerning witich little reliable has until now been known. One of the vessels was, after a detention of a weck’s duration, released, and has arrived at teis port. The other, together with her officers and crew, the passengers In the vessela— Messrs. Lacoste and Felix—and the pariles at Bara- coa implicated in the alleged filibustero design, has been taken to St. Jago, to abide the dzcision of the | Spanish tribuna's. The facts of tie case present some featu:es of peculiar interest, especially as re- | lates to Mr. Felix, who, itis said, is entirely inns ceut of any complicity with ‘he other parties under arres’. The Board of Canvassers yes'erday confirmed the returns from the Niseteenth ani Twentieth | wards, and then adjourned till today. The only | | his official mission, snd he remained. Russia, would enable us ‘0 secure Cuba with- out difficulty. England would not dere active- on his left, his fleets and armies would be drawn off—he would be Jefenceless at home—the at- titude of this great republic, and its powerful moral influence in Europe, would give dignity toa revolt—'be red republicans would sound instantly vibrate throughout the Continent, and the second rehearsal of the general convulsion of 1848-49 might possibly result in the estab- lishment of a system ot republics from the Seine to the Danube. This was the second experiment of Kossuth and his confederates to create an opening for the red republicans through the complications of a general war among the great Powers, and such have doubtless been the estimates of the refugees of the final issues of their plot. To the point of the exclusion of Soulé from France, their game has been managed with singular tact and unity of pur- pore, and with very considerable ability. Their active operations commenced with the arrival of Soulé at London on his way out. Ambitious for the distinction of securing Cuba, or a war with Spain, a red republican refuge? bimself, boid and reckless by nature, conver- sant with the polite languages of the Continent, and pretty well read in its diplomatic and re- volutionary history, he was the man for Ko3- suth, Sanders, Sickles and company, and was instantly put at the helm. Oa his first depar- ture from London to Madrid, he went out upon the execution of the most subtle and the most tremendous game of wars and revolutions that can be found ia all the annals of bloody intrigaes and revolutionary diplomacy. , He dropped at Paris a few passing remarks which served to excite the suspicions of the Emperor against our government, and passed on. At Madrid he soo: contrived to fan the sparks into a flame in his duels, and in his dic- tatorial demands of the Spanish cabinet. He had brought matters to the desired crisis of a call for his passports, when the Espartero revo- Jution put a new face upon the main question of He re ward returns yet to be canvassed are those from the Eleventh, the First district of the Twelfth, and those from the Twenty-first and Twenty second wards. Jobn H. Phelps, whose trial for the marder of his | wife tas been progressing before the Court of Oyer | | and Terminer at Albany for a weck past, was yes. | | terday convicted of the awfu! crime, and re will be | sentenced on Monday. i | Ex-Governor David 8. Reid ha» been elected to Corolina. Gov. Reed is of the democratic school of | politics. | The caseo" John Byc-oft, charged wit’ aiding in | the rescue of a fugitive from service, named Joshua | | Glover, was concluded on the 18th inst., in the ceived instructions from Maroy to re-open ne- gotiations upon a pacific footing; but they were too pacific for the purposes of our. ambassador, and co he pocketed tli€m. He would have re- turned home to expose the ‘timid counsels” of our premier, but that he bad other work to do in Eorope, in pursuance 0” the grand scheme of “Young America,” Kossuth, and the red re- ublicans of London. We are next informed of suspicions against | our Minister to Spain, of complicity with the lowest rabble of Medrid, ina puerile attemp: at a couuter-revolution, We next hear of him among the Pyrences, nex! that he is in France, Dringing a week's later news from Califoraia, and | United State: Curt at Milwaukie, after an ela | under ‘he surveillance of government spics. over @ milion and a hal’ in treasure on freight, which will tend to revive, toa certain extent, the | jury rendered a verdict of guilty. The penalty is © | Mason, and others, @rooping spirits of certain stock operators in Wali street. The news is of very little moment, beyond the announcement of the amount of specie which has arrived, which will be landed to day, and before | the going down of the sua will be scattered and swallowed up in the ramifisations ot trade, and the errival of the next steamer will be Yr anxiously Jooked for as the prevent was, and the woader wil! grow as tothe provable amount of specie she will Dring. The Anglo French ficet had arrived in Sin Francisco, aud had brought with them a Rassiin prize ship, which was taken off Petropolowski, the Russian port which they haa lately besieged. C»'. Fremont bad been invited to a public dianer, whi:u he destined in a letter fal! of grati!ude for the pre- ferrcd honor. Admiral Des Pointes, commanding the French squadron, bad paid a friendly vit ts Gen. Weoly and it was said the General would ro- torn the complinent on board one of the Franch vessels. The money presente was felt in San Fran cisco, bu’ the markets, notwithstanding, were rather | more buoyant than bad marked the transastions ia trade for come time pasi. By the arrival of the George Law we have a'so intelligence from the Sandwich Islands, singapore | and Peru. The most, and in fact the only, nows of special importance from the Sandwich Islands, is the arrival of the first ship of the whaling flest, which brought fay rable accounts of the basiness of the season, all having mot with more than aversg+ eaccess. Nothing farther respecting annexation bad tranrpired. From S'ngapore we learn of th» capture of a Russian merchant brig by a British erviver, in the Straits of Sunda, the first prize taken im those waters. The Enropean residents had or- ganized thea. selves for the protection of the colony, it being in a defenceless condition. Our advic from Pern are interesting, and give an account of en attempt made at Lima, on tie 25th ult., to ova:- throw the government. ‘The steamabip Hermann, which lef} Southamp'‘on on the 8th ixat., arrived here at nine o’vlock yes‘er day morning. The newa brought ou’ by the Cana- dian, telegraphed to us from Portland, Main», con- tained a summary of all tho lea ling evants in Barop> up to the 7th of the present moath ; and our advices Dy the Canada, telegraphed from Halifax, hid put the public in possession of the latest intelligence fiom the seat of war, with English comercial re. porte dated to the 11th of Novem er. Our files by the Hermann, howevar, contain some very iateres® log extracts, amongst which will be found the ofi- cial reports of Admirals Dundas aad Hamelin, vib that of Lord Roglaa, detailing the progress of tie siege of Sebastopol for the fist tivo drys, both b genand land. A re‘ura of the casualties of the at lied officers is also publisied. We also give the tory of the Soulé and Napoleon difficaity, with ac usations and explans*iona of the Frene2 govera ment in relation thereto. Doctor xe has written a letter to the London Times, in which he defeads the melancholy accuracy of his original s\atement re- garding the remains of bodies foncd with sxe Hayat maux being those of a portion of Sir Juha tvank tin’s party. The absence of private letters by the Cauasa and the inclemency of the weather had the effec’ of ehecking transactions yesterday in mos’ braaches eof trate. Flour aivarced about 25 cents per barrel for common State, and Indian corn, with free sles, advanced 3 cents per bushel. Wheat was qaict. Cotton sold to the extent of about 1,200 bales, the market closing easy. Pork was dail at a>oub $12 624. The dealers in provisions, finding trade at ‘the moment rather heavy, yesterday bantered each other about Erie stock, when one party sold 100 shares to arother at 32, seller's option, six moaths. The sbip Omer Pacha, arrived yesterday from Antwerp, had sixty-six cases of caolera on tre pa-sege, thirty-six of which proved fatal. ‘The ship Helene, arrived from Bremen, reports that when in lat, 48 40, lon. 22, spoke ship Giea barn, Captain Gray, of Ricbmond, from New 0- Jeans, fifty-four days out, boand to Havre, who ie. ported having lost omefourth of her crew by yellow fever. The G. has since arrived at Havre. The brig Thomas T. Knoxgarrivei from Tampi- oo, had three of her crew sick from’ fever for the last ten days, the captain, mate anda boy having been only able to do duty. The clipper sbip Flying Clond arrived at this port yesteréay from Onina, much to the relief of the ua- derwriters, who, from previous accounts respecting her, and from the fact of her being overdue, bad for some deys entertained fews for her safety. The Z> Were val 0d ate! g v wel AD 3 ‘ahi huzied ties, borate charge fron the presiding Judge, and the | flne not ¢xceeding one thousand dollars, and im- | | prisonmen: not exceeding six months, and th? con: | | victed party is also Hable in an action for debt in the sum of one thousand dollars. The counsel of | | the defendart in this case have moved for arrest of | | judgment. | In the Circnit Court yesterday the consideration | ofthe motion fora new trial in the case of Capt. | James Smith, convicted of partisipatioa in the | African slave trade, was postponed till the February | term. | A fuil report cf the proceedings yesterday on the | | irauguration of the new House of Refuge is pad { | lished in to-day’s paper. | The sufferers by the freaks of the Vitriol Man— | Theodore A. Gray—may find a'l the facts that have | been brought to light concerning him, under tae | potice intelligence head. It is a singular case, | | showing @ yersistent maliciousness without tie | | slightest motive of cain soldom met with. I: is said that he is laboring ander r-ligious insanity. { | Whe Soule Affatr—Critical Condition of Our Relations with France and Spain, | Inthe European news by the last steamer | there are several points of striking significancy, | touching our critical relations with France and | Spaio. The recall of the late interdict by Louis Napoleon, against our Minister to Madrid. is | fully confirmed. Mr. Soulé sccepts th + invita | tion accorded to him, and passes through | France on his return 10 te Spa-ish capital. | | Lord Palmerston is on a visit to the Tuileries, ' lis mission is supposed to be a more intimvte | and definite understanding than nw exists be- tweea France an? England upon the Cuba | question, and especially in reference t» the al- | leged and fully accredited unscrupulous desigzs of our adm'‘nistration. These facts, vis-a-vis | | with our late intelligence from Washington, | | foreshadowing a reconstruction of the Cabinet, | and a decided war policy on the part of our executive gover»ment, cover nothing less thin | the momentous contingencies of an impending | rupture between France and Spain and th | United States. The Soulé imbroglio, as it s‘unds, is not the | product of a series of accidents. It ig the re- | sult of a deliberate scheme, the ultimate object of wh ch is a Earopean continental revolution, beginning with Paris; and Kossuth has been thy prime mover of the conspiracy. His late missign | to the United States was “financial and material aia” to Hungary, and active armed intervention to enforce pon-intervention, in view of another Hungarian revolution. Failing in this selfoon- stituted embassy, Kossuth, incog., left this coun. | | try for England, where he has since been occu. | | pied with suc’: materials as he could command, | | in shaping the affairs of the Continent toa fa. | | vorable opening for the red republicans. His) } first effort to this end was to @rivé Austria to | the support of Russia in the present war. Tois | would have carried a French army acr.ss the | | Rhine on the road to Vienna, aid ano- | | ther across the Alp#into Ita'y. The republi- can Italians, Hungarians and Poles c,uld desire | nothing better. They would s.ring to arms, | and the independence of Italy and Hungary, | and the recall of Koseuth to power, would be | among the first fruits of the general convul. | sion. But the scheme failed. The Western Powers | could not be detached from even the half-and. half support of Austria; and ber :ctive alli- ance against the very Power that so lately , saved her from extinction seems no v to be her fixed reso'ution, Whatnext’ The next expe- dient of Kossuth and his confederates was to foment a rupture between France and the Uni- ted States, The Cuba question afforded the necessary hase of operatins. The pre- sence “of George Sanders as cur Con sul at London, and Daniel E. Sickles, | the Secretary of our Legation there, and, sub- sequently, the happy arrival o° Mr. Soulé, en route to Madrid, were the ready instruments for the work. Two or thr.e birds might be Milled with the came at S rept | { { | | | @ on cny Then he is joined by Messrs. Buchanan and in that significant diplo- matic congress at Ostend, which alarms the Continent, and instantly convinces Lonis Napoleon of the worst possible inteations on the part of our government, especially against the island of Cuba. Shortly before the meectiag of this very suspicious congress, Mr. Sickle:. the official secretary of Mr. Buchanan, is de- epatched to Washington, and immediately after t closes its sessions, Mr. Dudley Mann, our | Assistant Secretary of State, and Mr. McRea, our Consul at Paris, leave Europe for the United States, and upon the arrival of the | first of them at Washington we are advised that we shall have Cuba in less than six months, In the meantime Mr. Soulé crosses over to London. His coneultations with Kossuth, Ledru Rollin and George Sanders are resumed. San- ders has been writing and circulating a revoln- tionary letter to the Swiss republic, and a | manifesto o the French socialists follows from | the same active agitator. Next we hear of the | arrest of Mr. Sonlé on the borders of France, and that further ingress into, or egress through, the French territories is denied him. To tbis point the grand joint stock enterprise of Sou!é, Sanders, Sickles, Kossuth and company worked beautifa’ly and regularly. it was the crisis ia the game upon which all depended. An obstinai : | firmness on the part of Louis Napoleon was ex: pected. Thegamewaswon. There would be a rapture between France and the United States Buchanan was eager for it—Mason was enthu- siastic. Both had been duped. We should ac- quire Cuba in a holiday descent upon the island—a mere pleasure excursion. The red republicans of Paris would fly to the barricades —the Continent would be fire1 with the explo- sion—France, Germany, Italy, Hungary. would be liberated, and the exiles in London would succeed to empires, kingdoms and _princi- palities. ‘ The game was won when the game was lost The interdict against Soulé was retracted—tie impending rupture between France and the United States was arrested at the very moment when it promised everything. .Lord Clarendon and theyBritich Cabinc! foresaw the conse- quences which Louis Napoleon had overlooked. His interdict was directed against a revolution- ary agitator, but he was caught in the toils of acombination of his enemies. The formidable moral power of the United States in the event of a European revolutionary convulsion had not entered his mind, nor the dangers of sach a convulsion from a war with thiscountry. He had not measured the intimate relations of the commercial and business classes of France with the United States; he had not thought of the fact that a rupture with us would alienate those classes from the Empire, and turn them over to the republic for the sake of peace. He forgot that “the Empire is peace.” Me forgot the expulsion of Louis Philippe, and that it was the interests of the commercial and manufac- turing classes of France that detsroned him. Louis Napoleon had lost sight of these things in the pursuit of a refugee and a filibus‘ero, The promptness, however, of the French Empe- | Tor in repairing his blunder when detected, proves that he was speedily and thoroughly enlightened upon the subject; and the repara- tion to Soulé is doubtless due more to the saga- city of the British cabinet, and the terrible work at Sebastopol, than to the intrepiiity of Messrs. Mason and Buchanan. They were firm ly maintaining the honor of their government, but they were the dupes of Kossuth, Sanders and Soulé, Now, the question arises, is the danger over? We fear not. Soulé has set out through France on his return to Madrid. He may pas:, but the entente cordiale between him and Louis Na- poleon is not restored. Nor is his war policy ebandoned. His efforts at @ ruptare with France may be followed by a rnptare with Spain, which would be the samo tieg II ly to interfere, though ehe might adrottly aid | ‘ in inveigling Napoleon into.the snare. Bat,| ® Bezton filibuster. It is also declarcd with Rassia on hs right and the United Stats | the rappel in Paris—the electric shock would | on I i ei LT part with Louis Napoleon while involved in a | Jife and death strugg’e with the giant Power of , seems to have brought 0:9p the admiuistration to bis belligerent de-rrye, If current reports | be true, there i8 “nortly to be a reconstruction of the Cabinet at Wash'nyton, and Mar cy i8 ‘so be supplanted by Cushing, from the political circles at Washington, shat the President, ina desperate resolve to retrieve the fallen fortunes of his administration, wi!l, . in his annual metsage to Congress, strike out a bold and startling war policy. This is highly | probable, from the cvident harmony which ex- ists between the diplomati: league of Soulé and | the exceutive. A few days will settle this ques- tion. The straitened conditton of the administra- tion, the return of Soulé to Madrid, the warlike pressure againgt the more pacific policy of Mar- cy, the late intelligence from Europe, and the present aspect of things on both sidas of the Atlantic, wear al'ogether a very warlike com- plexion. The alternative and the responsibility on the Cuba ques‘ion will probably be thrown upon Congress, and here we find but /ittle re- lief. The domingnt party in this Congress is in the same desperate situation as the administra- fion itself. In a word, neither to the one nor to the other is there any alternative of redemp- tion offered, except a foreign war. And in anticipation of a war policy, as foreshadowed in our reports from Washington, in the movements of Soulé and the congress at Ostend, we await the President’s mes age. It may be peace; but we fear it will be war. the Herald and the Know Nothings. Light has flashed upon the mind of the ad- ministration. The great Know: Nothing secret has been revealed to the President, and the Union is commissioned to break it to the world. We have all been wrong—natives and foreign- ers: every word we have uttered for or against the mighty faction that is sweeping the elec- tions has been sheer absurdity. It is not true, as the Seward people say, that Know N.thing- ism sprung from the jealousy of foreigners: nor have the natives been nearer the mark when they ascribed its origin to a just dislike of foreign lawlessness and party corruption. The Union sets us all right. “The Know Nothing plot,” says that accurate journal, “was hatched amid the infamies of Parisian life, and the editor of the Heratp has returned to the United States for a brief space to con- summate it.” This will be startling news for the thousands who voted for Ullman in this State, and the Know Nothing masses of New England, Sam Houston, Mr, Clayton, and General Scott little think that they are the mere tools of a “plot hatched amid the infamies of Parisian life.” We are éying to know who “hatched” the plot? Had Napoleon anything to do with it? Had it any connection with the recent affray about coat tails and diplomatic dress? And what is the meaning of the mysterious allusion to “the infamies of Parisian life?” Was it “hatched” in an improper place? Was the figurative “hen” that officiated on this interesting occasion a dis- reputable fowl? Who in the world wuld it have been? The last we heard from Paris was that one of the leading editors was writing a de- ecription of the “Quakers” who inhabit the vil- lage of New York in the province of Philadel- phia : can this erudite worthy have been the author of the Know Nothing conspiracy ? Oaly to think that these Frenchmen, who are such excetdingly lively and pleasant fellows when they don’t get up barricades on the Bonle- vards, and write such lively books, and sell such pretty objets de virtu, should have time to “hatch conspiracies” against the adopted citizens of the United States. Surely the like was never heard before. Such exclusive infor- mation shows what an exceedingly enterprising and penetrating paper the Union is. You can’t catch it napping. And “the Editor of the Heraup” was sent home “or a brie’ space to consummate” this French plan of American Know Nothingism. An exceeding desperate fellow this Editor ot the Heratp. if he hasa toothache, the Alba- ny Evening Journal notes the tact as an evi- dence of his bad disposition. If he goes abroad for his health, he is a villain who cares nothing for his country. If he comes home, he is sent by a committee of con-pirators to conaum nate aecheme against the interests of the United States. Ir he leadsa quiet life, he is an out- cast shunned by mankind. If he goes iuto society, he is steeped in “Parisian infamies.” We are sure that the public at large will be de- lighted with this imitation of European maao- ners, in the shape of a Court journal to chroai cle the doings and movements o” such impor- tant personages as the Editor of the Heratn. It is sure to thrive in this country; and we may soon expect to see the Union noting in double leads that “the Editor of the Hera rose at seven this morning and shived himself :’’ or “Mr. Bennett took his usual walk in Broad- way on Thursday ;” or “James Gordon Beunett had the audacity to dine at two yesterday, doubtless for some sinister purpose. When we add that he supped at nine and“ ate part of a lobster, the villany of the hoary miscreant can no longer be qaestioned.” There cannot be a doubt of the usefulness of such informatioa as this. The more of it the better in the columns of euch papers as the Union. To be eerions, that journal says that “we have been mistaken.” So we have. We were mistaken, most egregiously mistaken in the ebaracter of Franklin Pierce, or we should not have supported him for the Presidency. It was the greatest mistake we cver made. And we may, a3 the Union says, b2 mistaken again in reference to the Know Nothings. But we do not think we shall. We intend to give the Know Nothings a fair trial. No authenti: ac- count of their creed bas ever been made pnbdlic; but we believe that the main principles which keep them together are devotion to American intereate and the cause of order, and more ea pecially disgust at the corruptions and the follies of the two old political parties, as devel- oped to the highest pitch by the administration of Mr. Pierce. These principles we not only endorse, but are perfectly confident of their adoption by the masses of the people. We therefore purpose offering to these Know No- things sueh countenance and advice hs they may ecem to need. There is no plot or scheme in this, It miay answer very well for the ad- ministration and their supporters to talk about secret societies and conspiracies in the dark; but nothing in the world is more open or more uotorious than the universal abhorrence wilh which the corruptions of the administration are regarded by the people, nothing more candidly avowed than the paramount necessity of uniting honest men on some new platform in opposition not only to the present rogues at Washingtoa but to trose who may come after them. And this is the corner atone of Know Nothingism. Wy Fs “2p The Unton, fos t» reel to eay, as It docs, that the Know Nothings can- | not succeed, beeause such and such leaders in this or that State are opposed to them. A po- litical demagogue, attempting to stay the tor- rent of Know Nothingism in this country, is like @ pebble on tbe shore resisting the rush of the tide. It must be large, strong and solidly placed to cause even a momentary ripple: and that is hardly seen before the flood over- whelms it and it disappears. So it will be with the individuals on whose adherence to the old | party lines the Union relies for the overthrow of the new faction. The Know Nothingscan be killed by no one but themselves. They can destroy their own power by quarrels among themselves, thoughts of the spoil, and treading in the footsteps of the old parties. But if they avoid theee dangers, they will sweep the coun- try in 1856 as assuredly as Jackson swep’ it in 1828. The Sub-Treasury and the Surplus. ‘A correspondent in cae of the few journals which still defend the corruptions and follies of the Pierce Cabinet undertakes an apology for the sub-treasury system, and argues that the of specie. Such o line of argument is well worthy of politicians of the Pierce school. Printing, raid the old monks of the Inquisition when they condemned Da Fede, is a dama:bie books that will be printed ! And so they burat the poor printer, and smashed hia press, leat harm should ensure therefrom. Ia the like spirit the government organs tells us : Mosey is @ fatal invention of speculators : if it be a\- lowed to circulate among the people, failaces are sure to take place: better lock it up at once, and remove it from the reach of mau kind. Because money stimulates enterprise, and enterprise is sometimes unsuccessful, the sub-treasury buries one half, or nearly as much, | of the entire coinage of the country in vaults, | and leaves the commercial community to make shift with the balance. More than this, writers are found to congratulate the people on the privation, and to say to our merchants, who are driven within an ace ot bankruptcy for want of specie: Ab! gentlemen, you are indeed happy to live under sucha system! Has it never occurred to the defenders of the sub-treasury that the arguments they use with regard to specie might be applied with equal effect to grain, land or any other representative of value? There can be no doubt for instange but speculation is stimulated by large harvests: how would it work should we try to guard against the dangers of over-speculation by re- fusing to gather one-half our corn, or throwing halt our wheat into a hole to rot? Yet this is precisely what is done with our coin, which is only another representative ot value. What if, on the principle that the opening of new tracts of fertile land tosters specu'ation, as every one knows it does, we were to enact that half the lands cleared should not be sown or turned to any useful purposé? Yet this is precisely what the sub-treasury law does with another commodity. Either specie is a good and useful thing, and none ot it should be allowed to lie idle in vaults, producing no interest, rendering no ser- vice to the country: or it isa bad and perni- cious thing, and it should all be made away with. There can be no reason for burying half, and leaving half. All the service rendered by the sub-treasury in recording the presence or absence of coin could be performed as thoroughly by bank statements throughout the couatry. It would be the simplest matter in the world to exteod our plan of bank statements to the other States: and these would furnish a far more complete and more accurate chronicle of the specie movement than returns from the sub- treasury. We are told that the sub-treasury system is beneficial inasmuch as it preserves within the country a quantity of specie which would other- wise be exported. Those who say this presume largely upon the simplic:ty of their readers. In the first place, one may without inordinate cu- riosity inquire what is the use of retaining spe- cie ina country to bury it ina vault? Might not the thirty millions now in the treasury be just as well in England, or France, or Japaa, 80 far as trade is concerned? Indecd, if it were in the former countries—which some people seem to think would be so lamentable a misfortune— it would help our corrzspondents there to wea ther the hard times, and thus indirectly benefit us: whereas, in Mr. Guthrie’s strong box it does no earthly good to any one, and only serves to lure political jackals and vultures to, Washing- ton. Bat, secondly, suppose these millions were in the banks: why should they be export- ed? Specie only goes abroad when the mer- cantile community here is extravagant: when more money is spent in houses and furaiture and dress and railroads and other enterprises than we can afford: and when the precious me- tals are worth more elsewhere than they are here. When these contingencies occur simultaneously, specie must go abroad, in obedience to a fixed law of trade: and for the subtrevsury to step in and say—we will prevent these millions from being exported—is just as foolish and as injurious to the country as it would be to pro- hibit the export of corn or the manufacture of cloth. The action of the sub-treasury, viewed in this light, appears one of the mo:t repulsive fruits of an exploded narrow, despotic system. Among thinking men there can be but little question of the injury at present wrought to our commercial interests by the accumulation of nearly forty millions (for we must still in- clude the Mexican money which was acciden- tally stolen by the administration) of epecie in the sub-treasury vaults. We regard that injury as parallel to the enormousevils inflicted on the nation by the accumulation of money in the Trea sury during General Jackson’s second term. A distinction is attempted to be drawn between the two periods because the crisis of 1837 was directly precipitated by the removal of the de- poajts from the U. 8. Bank into the State banks; while the ¢risis impending at prosent is aggra- vated by the hoarding of specie in the Treasury vaults, This is a mere puerile quibble. Wherever the money was or is, the fact of its accumulation was the same in both cases; and herein lay the danger and the evil. Indeed, wherever a real contrast appears between the two periods, itis to the advantage of the earlier one. The deposits which helped the explosion of 1837 were in paper, and their total loss only inflicted an in- jury equal to their actual amount, The sub- treasury hoard is in gold ; and—estimating it at forty millions, the sum it would reach bad the treasury not been robbed—its abstraction from the channels of trade involves loss to the j commurity of ty country is benefitted by the withdrawal from | the channels of trade of thirty or forty millions | invention ofthe devil: think of all the bad | can \ millions of dollars. This is calculating accord- ing to the Buropean rule, which requires thet istues and specie should occupy to’ each other~ ' the proportion of 3 to 1. If we take our own bank issues ‘6 a basis, the loss would be mach j Sreater, In round numbers, the United States bapke iesne a paper currency of two handred . and fity millions of,dollars based on a deposit of specie equal to sixty millions. At this rate, , the hoard in the sub-treasury may be regarded as equivalent to depriving the country of more than one hundred and sixty millions of dollars. Yet the government writers have the audacity to eay that the money hoard.d by the sub-trea- sury would go but « small way towards reliev- ing the present embarassment. Why, it would pay all our preesing debts, from Maine to New ' Orleans ! \ —_—_———— THE LATEST NEWS. BY MAGNETIC AND PRINTING TELEGRAPHS, Collision of the Steamers Canada and Ocean in Massachusetts Bay. Explcsion of the Boiler and Burning of the Ocean. > SUPPOSED LO3S OF SEVERAL LIVE3. THE KNOW NOTHING NATIONAL CONVENTION, e Every State Represented by Delesates, CONVICTION OF A MURDERER AT ALBANY, &e, &e., we. Collision between the Steamship Canada and the Steamer Ocean, ‘ DESTRUCTION OF 1H£ OCEAN—SEVERAL LIVES LOST. Boston, Nov. 24—74¢ P. M. The steamship Canada hae not arrived up yet, although she was signalled as being about fifteen miles | below at four o’elock this afternoon. Shortly hefore six o'clock this evening the sky was | illuminated by an extensive iire in the outer harbor, and | various causes were assigned as to what it proceeded from. It is now reported by telegraph from Nantasket that the boilers of one of the Eastern steamers have exploded; ‘that the steamer took fire and was burnt to the water’s edge in consequence, and that the passengers and crew were being saved by the vessels and the boats in the vicinity. No further particulars have yot transpired. Three boats left for Fastern ports'at 5 P. M., loaded with passengers, namely—the Forest City, the Ocean, and the Boston. It is thought probable that the steainship Canada has stopped to render assistance, LATEST INTELLIGENCE. Bosroy, Nov. 24—103g P. M. Shortly before six o’clock this evening the steamship Canada came in collision with the steamer Ocean, hence for Hallowell, (Me.,) striking her amidsBiips. The Occan took fire, and soon after her boiler exploded. Several lives are lost. The steamship Canada is now anchored off Rains~ ford Island, and the steamer Noptune has been sent down to her to bring on her mails, and will probably reach here with them at twelve o’clock to-night. The collision between the Canada and the Ocean oc- curred shortly after five o’clock, near the lower light house. The weather was not very thick at the time, and the cause of the disaster remains unexplained, The steamers Forest City, for Portland, and the Bos~ ton, for Bangor, took off the passengers of the Ovean, about eighty in number. The collision upset the stoves om board the Ocean, in consequence of which she took fire, and soon afterwards followed the explosion of one of her boilers. Aman, a woman, anda child three years old, were picked up after being drowned—names noknown. Hiram 1. Wing, ono of the messengers of Carpen- ter’s Express, is badly scalded. Charles Pope, w colored man, had his thigh broken, and his wife is badly injured. These are all the serious casualties that have yet transpired, but it is feared many more have lost their lives by drowning. The fright of the passengers was excessive. The Forest City returned here with the dead and in- jured, and the Boston, with the balance of the passengers, proceeded on her way to the Fast. The Ocean was a large and good boat, and was com: manded by Capt. Donovan. She was heavily freighted, and is a tetal loss. ‘The Know Nothing National Convention. KARGR ATTENDANCE OF DELEGATRS—CLAYTON ANID ULLMAN ON HAND—THE WORK OF THE CONVENTION. Crvctyxan, Nov. 24, 1854. It fs understood the Know Nothing Convention, which bas been in secret session here for the last two weeks, will adjourn to-morrow. ‘The attendance has been very large, and cach State in the Union has been fully represented. Among the representatives were Messrs, John M. Clay- ton of Delaware, Ullman of New York, Brown of Penn- sylvania, Lumsden of Néw Orleans, and Mayor Conrad of Philadelphia. The utmost harmony is said tohave prevailed amongst them. Important changes have been made in theircon stitution, a new ritual adopted, and all their pass words signs, &€., have undergone a complete alteration. ‘The question with reference to Presidential candidates ‘was not brought up. From Washington. THE ACCIDENT TO THE SPANISH MINISTER—MARINE DISASTER. ‘Wasutvatox, Nov. 24, 1854. Don de Cucto, the Spanish Minister, still remains in » dangerous condition, from the effects of the injuries he received by being violsntly thrown from his carriage yesterdsy. The President called upon him in person to- day. The schooner Upshur, from New York, put into Nor- folk to-day, with the loss of her spars, sails, and rigging. From Albany. CONVICTION OF JOHN H. PHELPS, OF WRST TROY, FOR THE MURDER OF HIS WIFE. ALBANY, Nov. 24, 1854. On the evening of Tucaday, the 11th of April last, Joh H. Phelps committed an assanit upon his wife, by in flicting several stabs on her person with aa oyster knife, one of which penetrated her heart, and caused her death in twenty minutes. He was arrested and confined in the Albany prison, where ho has lain ever since. Judge Harris held a special Oyer and Terminer for his trial, on which he has been engaged fora whole weok. When arraigned, his counsel interposed the ples of insanity thereby rendering him, as alleged, unacsountable Zot the commission of the crime, declaring that his mind ‘was in such a state of aberration, that he was incapable of realizing the consequences which gust result from the rash deed. The prisoner being poor, aud -thorefore w to pro- cure able counsel to defend him, Judge Harris solicited and assigned ex-Recorder Wright to conduct the case on. the part of the defence. Though pleading without reward, Mr. Wright labored through seven days with a zeal, ability and perseverance so laudable and praiseworthy that the highest compliment was paid him by the pre- siding judge in his chatge to the jury. The trial, and the speeches of the counsel having concluded yeaterday, Judge Harris, thie morning, reviewed the testimony, laid. down the law in relation to insanity, lunacy, and drunk - enness, in an able and lucid address to the jury of two: hours length. After an hour’s absence, the jury re entered the court room, and rendered their verdict, pro - nouncing Jobn H. Phelps guilty of the marder of his wife, ‘The prisoner heard the verdict from the foreman with. ‘out manifesting any apparent concern. During the whole trial he seemed to betray no uneasiness with re- gard fo his fate, sitting carelessly behind his counsel, with his face resting on the table one half the time. Phelps is thirty-five years of age, an engineer and ma~ chinist by profession, and ranks amongst the most akill- fal and ingenious. He had within a few years become addicted to habits of intemperance, which frequently threw him into fits of delirium tremens. It was proved that he lived unhappily with his wife, that his mind was afiiicted with jeatousy, and while under the influence of alcohol and the thoughts of his wife’s infidelity praying upon his intellect, he committed the homicide. The ‘verdict of the jury is approved by those who are ac- quainted with the facts, or who attended the trial and