The New York Herald Newspaper, March 28, 1855, Page 2

2 ether words, the policy of war, of aggression, and of conquest. The Grand Duke Alexander may have deen wine and just; but the Czar is the Czar. As such he is ‘the representative of a system, the heir of a policy as well as of a principle, custodian of a nation’s pre- judices, passions, ambitions azd hopes; and part of & grand machine with which be must work, or be ci beneath its wheels, It is natural the Empress and people of Russia should strivete ex’ their frontiers t> ‘the sea; it is quiteas natural and more just that the ‘other States of Europe should #ttive to prevent the re- alization of the project. Between Russia and the rest of Europe there is necessary and inevitable hostility. Ras- gia will never lose sight of her object. She parsues it im peace no less vigorously, and perhaps more success- fully, than in war. Patient, perfidious and persevering, the great object ver abeent from the mi eils of her Czars; the cannon’s mouth. Had the proclamation of the new Czar been more pacitis, the policy of the allies ought to have been d- i Peter and Catherine the Great, Europe thus koo' what it has toexpect. To the fears, and not to th aense of justicr, of the Oars, must the appeal be madi ‘Treaties do bind them; considerations of honor humanity have no place in their councils. Whenever ‘the moment arrives when a portion of Turkish or any other territory can be stolen or conquered, they are pre- ed to xtrike, We believe, for many reasons, that the Benth of the late Crar is a calamity; and thet the un- wise ‘and eovereigns of Germany—aided, per- haps, by the timid, the ignorant and the selfish nearer home—may endeavor, in consequence, to bring the pre- sent war to a premature conclusion, by patching up & jus and dishonerable peace. Bat even Manches- itself, as wellas Vienna and Berlin, may be assured that a peace hastily made, without a’‘‘material guar- antee’”’—without the capture of Sebasto with- ‘out the payment by Russia of the whole expenses of the present war, would be a peace that would not last a mo- ment beyond the time when it might suit the whim or the policy of Russia to break it. So far from believing “that nothing is changed”’ by the death of Nicholas, we delieve that the position of Europe has been rendered still more perilous by the event. There is only one con- Sagency. at would improve it, and that is the absoluve ‘unconditional surrender of the new Emperor. Unless —and until—that event happens, the policy of the Allies should be war with redoubled rgy—war in the Baltic and in the Black Sea—war on every side of the Russian dominions. (From the London Times, Marsh 9,] We are not accustomned to attach undue importance to the formal ceremonies and observances of foreign courts in the defferent occurrences of their monotonous eximvence. ‘The acts prompted by those occasions are commonly to be regarded as mere demonstrations of courtesy and breeding, which are not misplaced in ‘the society of kings; and the language employed in pub- ic manifestoes and declarations is quite as often used to ecnceal thoughts of their authors as to express them. ‘The marks of condolence and sympathy shown by the German sovereigns to the imperial family of Russia, on the sudden death of the late Emperor, have, therefore, im our opinion, but a very slight connection with the pelitical transactions in which the interests of Europe are at this time engaged; and, on the other hand, the tone of the manifesto of the Emperor Ajexander on his accession to the throne proves very little as tothe course of policy he may really intend to pursue. He announces his determination to te Jed the welfare of his empire, including Poland and Finland, as ‘ insep- arable from it;”’ and he promises to maintain this empire “sone and indivisible’ at the highest standard of power and glory, and to accomplish in his own person the in- eessant wishes of Peter, Catherine, Alexander and Nicho- las. As the address cf’ young soversign who has just ascended the throne, and whore Grat object is to con. cilfate the affection and respect of his people, this de- claration is perfectly natural; and a prince suspected of moderation is, Perhaps, more ‘tempted to resort to such ‘expressions than one who has already established a re- tation for vehement and undiscriminating patriotism. Bat, it such terms were seriously addreasea to Europe, they would be extremely ridiculous, for an empire can- not be raid to be at the highest standard of power and ‘when its ports are blockaded, its navy compelled 0 disappear from every sea, ita troops defvated ia every encounter with the enemy, and a large portion of one of ite provinces occupied by an invading army. Still less can the young Emperor boast, with any sem- that he is about to accomplish in his @ Rustisn Czars. Never was there a moment when such a scheme seemed leas practicable, wince all the great Powers are actually bound by treaty and prepared in arms to resist and to defeat it; and the mere avowal of a deliberate intention to give effect to the grossize designs of the Rusman sovereigns would ‘be a direct challenge to the restof Europe. Itis szarcely possible to imagine that the Court of St. Petersburg would have held such language if it bad intended to act upon it abroad, and the greater probability appears to us to be that these expressions were dictated by the ne- eessity of humoring the passions of a powerfal and po- pular party in the Russian empire, It may, however, be inferred from the tone of this address, that war rather than peace animates with its spint the Ru; nation, So far as we are acquainted ‘with the manifesto—tbe whole text of which bas not yet reached us—it contains no allusion to the hoped-for Vermination of the present contest ; but, if it could be supposed that the peror A ander I. means to par- ue the objects which have already embroiled his prede- cesror with the greater part of Europe, iy ‘ave taken this mode of declaring such an intention. ‘When, about twenty nine years ago, his father, the protection of , mounted the throne, after # short interregnum ® sanguinar, Nisnolas decla lang ui He revolt of the army in the capital, rclared to his people, in similar but in milder that— ald live solely for his people; that he should ae Alexander, of blossed memory, had reigned, in order to accomplish ail that he had wished for the happiness of Russia ; and, following his example, he hoped to obtain the blessing ot God and the love of the people. Such was the prelude to the reign of the most stern, velf-willed, and absolute monarch who ever held tho Raseian sceptre, who mounted the throne amid the com- motion of revolt, and who ended it in the convulsion of war, No stronger proof could be produced of the worth- Jeasness of such manitestoes for any practical purpose; and we ckerish a hope that the affucted violence of the one may be as insincere as the affected moderation of the other. It may, however, be doubted whether any Russian sovereign bas either the willor the power of perma- nent)y resisting or suspending by any actof his own that traditional policy which dates from the founders of the empire, and more especially from Peter and from Cathe- rine I, The Emperor Alexander I. sometimes dis- avowed it, and even coquetted with the liberal in- stivutioos and opinions of Western Europe; but he allied himself with Napoleon at Tilkit to ebtain the Danubian provinces, and he availed himself of his ascendancy in 1815 'to carry hia frontier Deyond the Vistula. Yet, in writing confidentially to Lord Castlereagh in 1822, Alexander spoxe of himself as the eply Russian who resisted the views of his subjects upon Turkey, and of the loos of popularity he sustained dy this antagonism. In like manner tha ror Nicho- during a great part of his reiga, affected to have de- sisted from the aggressive policy of Russia. In ove of = Crit ag with Sir Hamilton Seymour, in 1853, said:— Nou know the dyeams and plans in which the Empress was in the bahit of in ese were hat T did ‘uot inherit those visions, thor eall them so. ¥ that moment, as subsequent events have ebown, he wes entering upon a course of policy wholly riance with these declarations, as if the rastraint he bad hitherto placed upon the traditional policy of the Russian empire had become too irksome to be borne, and as if he were fatally impelled into a course of action which he followed even to the loss of his honour and his lite. With these striking examples before us on the part of two successive Emperors who professed rather to hold 4n suspense than to promote the aggressive traditions of ‘Russia, it becomes a matter of grave consiieration for the rest of Europe whether any reliance can be placed on apy assurances the Court of St. Petersburg may ive on this subject; and the announcement by the pre. sept Fmperor of his resolution to accomplish those de- signa which his predecessors had more or less secretly en- tertained, certainly does impose on the Allied Powers both the duty and the right to require from Russia positive and effectual securities against the prosecution of schemes fatal to the peace of Europe. We prosums that the very first efforts of the plenipotentiari ‘Vienna will be directed to the object of eliciting a» postible from the Russian envoys the real policy the new reign; and, inthe critical position in which ali the other Powers now stand towards Russia, all am ty om this point must speedily be removed. There is, on the one band, the common interest and the com- mon policy of Europe bound to op all violent ag- greesions, to defend rights, to uphold | i Policy has recently received the express treaties framed between the several allied Powers. The ia, on the otbet hand, the separate interest culiar system of the Russian empire—hostil lawless and uncontrolled, except by thi against it. The former system the power of all the most o im tbe world; the latter summonses the fan it and the barbarian hordes of its population to conflict, and it may be tuat the Emperor himself is dat the instrument of the passions to which his father 0 rashiy and wickedly appealed. But, be this as it may, his choice must be made aad his option declared—it is with Europe or war against it, for the traditional policy of Russia cannot be pursued without a mortal struggle against the whole power of civilization and in- dependence which remains in the world. {From the Paris Pays, March 8.) According to this version, Alexander Il. han declared that be will follow, with fisial respect, the grand policy of his father, im which he has been for several years in- itiated. Theitone of thisgfdocument will, no doubt, des. troy some illusion; but ill not surprire retlesting men. Could it be seriously imagined that the Czar Alexander would inaugurate his by a pacific de- claration, which would have been a humiliation for his army apd his people, and an insult to the memory of hin father? The new sovereign had no other language to ewploy than that ascribed to him—no other line of policy to follow than that opened by the conferences of Viena. It # in this point of view that he a rs to have frankly placed himself, since one fof his first acts bas been to confirm the powers of Prince Gortschakof, and to renew the acceptation of the basis of negotiat.oa previously admitted, Pubdlie opinion has, however, re- garded the accersion of Alexander II, as an eveat favo- rable to the re-establishment of peace in Europe. There may be some truth in this universal impression, It must not be forgotten, however, that the Ozar nas the military honor of his empire to support, the national rpirit to satisfy, and religious passions to restrain. No doubt the personal characterof Alexander II , his mode- sympathetic apprecistion European ‘open an additional chance to pacific solatio 1s; dispositions, with regard to which we have eoly very ¥: notiens, can only manifest thenmelvesat beir dne time, and whea the cannon of the Black Sea pha bave epokep. It is to be remarked, however, that NEW YORK HERALD, WEDNESDAY, MAROH 28, 1855. the relations of Prassia with Rustis are now modified— as the new Czar {sa man still yoang, who cannot exer- cise on the hing Frederick Wiliam, his uncle, the same agcendapey as the Emperor Nicholas, [From Galignani’s Messenger, March 6.) The Arsembléc Nati which at first seemed the’ most strongly ineli ‘ail the Paris journals to be- lieve that peace was likely to follow {rom the death of the nor Nicholas, bas pow :modified ite Opivion very materially, and seems to think thai the reasoning of the London prees on the subject is the correct one. Our con- temporary has apparently been sbaken ia its faith ia peace by the language of the manifesto isened by Alexander II. But in considering that document, due allowance ebould be made tor the very peculiar position im whicn the new Fmperor of Russia is placed. It can- not be expectad that, almost on the very day on which the angel of death has swept over the imperial palace of St. Petersburg, he shoud offer to the world the spectacle ofa son departing from the line of conduct pursued by the father, ani of setting him- self up as the public uphoder of diametrically op- posite views, before the obsequies of the deceased movarch bad taken place. Were he to do so, the Kus- sian nation would most probably be shocked and dis- sppoioted, and the worlc in general would exclaim against conduct alike at variance wich filial piety and ood taste. It is not the first political acts of Alexander I., we conceive, that ought to he too narrowly scanned. ‘Time must be allowed him to recover from the first ter- rible shock which the unexpected death of the Emperor Nicholas bas naturally caused him. Until then, we are of epinion, the new Czar’s public documents must not be weighed too rigorously. ‘The Assemblée scarcely takes this view of the question, but allows itself to be infla- enced in its view of the question of peace or war by the declarations made in the manifesto, as is evident from the allusion made to itin the followi extract from a rather leogchy article which it publishes on the non- pacific views exprersed in the English papers:— ‘The Emperor Alexander II. statos that he shall regulate bis conduet by the Inet act of his father. Faithful to the concessions already made, be docs, not appear disposed make new ones, Mi, thereforo, as the English journals d: clare, the conditions of peace decided on at London an ris must not undergo any modification, we are oblige agree with them that the f things has not changed. and thatthe hopes which in ‘and so general & manner at the ni Nicholas, not only in Paris all Europe, were premature. Before of the secrifices and of the effusion of big, there still re- mains to be solved the question before which negotiators are compelled to stop, and which foree alone can decide—namely, the taking of Sebastopol. For a moment, we thought thi the disappearance of the sovereign who, by his arrogant atti- tu rendered the war necessary, might have other consequences, and wo founded our hopes on the language of the ‘Moglish "journals, and on the ‘terms iu which the death of the’ Emperor of Russia was announced in the House of Lords by Lord Clarondon. The Secretary of Stato for Foreisn Affairs represented it, in fact. as an event which might ‘‘exercise a great and {mmodiate influ- nthe war, and on the negotiations commenced for the ‘blishment of peace,” How ean we reconcile those ex- ns of “great and immediate influence,” with the mn come to not to change anything in the conditions proviously decided on? Did Lord Clarendon only mean to speak of the pacific disposi®ens of the new sovercign? It nevertheless appears to difficult to admit that Her Britanic Majesty’s Seer of State for Foreign Affairs could have expected fro Emperor Alexander II, any- thing but the confirmatic f the concessions already mato How could it be supposed that a young ugurate his reign by sending an ler to astopol to destroy the ramparts which it last six monoths! To destroy its own the most cruel of humiliations for a nly could not bo expected in this case, In a word, if pence cannot be codeluded but at the price of the voluntary demolition or the taking of Sebastopol, the Eng- cht in saying that woe must not caleulat pea d_we must, on the contrary, prepare ourselves for a campaign, and look resolutely for the sacrifices which it will require. [From Berlin letter of March 4-} Things are not seen in such a favorable light as at the first moment; it is not now believed that the new Em- peror will make new concessions, The failure of the vegotiations of General de Wedel and the exclusion of Prussia from the eonferences, which is the sonsequence of it, produce a bad impression. The King personally clings more closely than ever to his point of view, for he considers the last words of the Emperor Nicholas as a sacred obligation imposed on him. As to the Western Powers, as they are making war on Russia and not on the Emperor cf Russia, it is notthought that they will oay their policy or their pretensions in the slightest jegree. by his father. sovereign would i THE WAR. TROUBLE BETWEEN ENGLAND AND FRANCE. MB. ROEBUCK’S COMMITTEE AND THE ALLIANCE OF FRANCE AND ENGLAND—NAPOLEON’S OPPOSITION TO THE COMMITTEE. The following editorial paragraph from the London Morning Herald, (ministerial paper,) is considered to give the clue to s hasty visit made, on the 3d inst., by the Far] of Clarendon to the Emperor Napoleon at Bou- ie; We haveexcellent authority for stating that the French Emperor has remonstrated agaimst the committee for enquiring into the conduct of the war, and that he has said that, in the event ot the ccmmittee continuing to sit, the armes of the two nations cannot act together, although they may act for the same object. In order, therefore, to satiafy Louis Napoleon, without affronting the Fnglish people, a dissolution of Parliament will, it is stated on the authority we have alluded to, take place almont immediately. Whether or not the matter referred to ia the above paragraph was the subject of conference, the Karl of Clarendon, accompanied only,by his private secretary, went over, on Saturday, the 3d instant, by express steamer to Boulogne, Lord Cowley, British Minister at Paris, having been telegraphed to meet him, and both hed a long private interview with the Emperor. Next morning Lord Clarendon returned to Dover, and took special train for London. INTERVIEW BETWEEN LORD CLARENDON AND THE BMPEROR OF FRANCE. [Paris Correspondense of the London News. Panis, March 5, 1855. There can be nodoubt that at the Boulogne conference, convened on the sudden in consequence of the Czar’s death, matters of the gravest import, requiring instant decision, were treated of. So solema an internutional meeting was never before, since the world began, held at so short a notice. ‘the news that Nicholas was no more, reached the two gover Dments on Friday afternoon, and on Saturday, in the day time, Napaleon UI , Lord Cowley, (representing Quern Victoria,) and the French and English Ministers of Foreign Aftairs, met together to consider what course was to be taken under circumstances wholly unexpected. I have received no revelations of what passea at this great consultation, but I can mention one important question which must necessarily have been discussed, and can offer not very hazard ous conjectureof the so. lution it met with. Immediately after the death of the Emperor Nich the Austrian and Prussian am! lors in Paris an London, being instructed by telegraph, represented that the situation being now so completely changed, it was highly desirable not to press on the war, but to give the new Emperor of Russie time to establish himself firmly on the th-one, and to encourage by conciliatory conduct the developement of his presumed peaceable inclinations. T cannot say whether an armistice was in terms asked for, but this much is not doubtful, that the German Powers recommenced that the status quo should be pre- served as nearly as sible, and deprecate any assault upon Sebastopol until the Emperor Alexander have had an opportunity of negotiating. e Very pressing representations in this spirit were made repeatedly on Saturday morning, both im Paris and London. hopa and believe that I am not mis- taken in expressing a decided opinion that this attempt of the German courts to persuade the Western Pow- ers to lose precious tin on the specious pretext of an unlooked-for opportunity to make peace, has pot suc- ceeded. I repeat, that I have no precise information on @ subject, which, 1 all probability, is yet a, secret confined to the two governments, but from the general tone of conversation in official circles to-day, I have no doubt that the real mot d’ordre in that given io the Emperor’s private letter, to which I alluded yesterday, ‘' not is changed,” and that the course dictated by the manifest duty and interest of the two countries—namely, to push on the war with redoubled vigor, and so take alvantage of any confusion ia thi emy’s councils which the re- cent evers may perchance produce, is the course decid- ed upon by the Boulogne conference. TREASON AT SEBASTOPOL. A FRENOH GENERAL CHARGED WITH DIVULGING SE- CRETS TO THE ENEMY. There has been, it is alleged, treason in the allied camp before Sebastopol, and a French genera! is said to have acted #0 indiscreetly that he is sent home to be shot. ‘This sounds startling, but is, nevertheless, vonched for as true. The correspondent of the Daily News in the Crimea, makes the following allusion to the traitorous proceedings —'‘ The last four days,’? he says, “have produced so distre arumor that, far obvious reasons, I can only hint at the circumstances of the sub- ject. It is whispered that an officer high In comman’ inthe French army, been accused of treasonable correspondence with the enemy; that he has been proved to have furnished the Russians with the exact pians of the siege works in progress. thereby enabling them to destroy there worke by mines; that General Canro- bert has caused the said officer to be arrested and tried 3 court martial, While | mention the rumor, must say that nothing appears to be more improbable than its authenticity. As yet, not asivgle French officer has nieered to give in- formation on the subject, and that subject, you must be aware, is tco delicate for inquiry. We of atl sbould throw a doubt on the loyalty, or sport with the reputation. of any of our allies, if no distressing aa occurrence has taken place, it will show in Gen. Can, robert’s despatches; but for the preseat I dismiss the subject, while recording my utter disbelief of the truth of the alleged facts.’” Other correspondents, however, disclose, without re- serve, the name of the officer who, it is aid, bas so far “fallen from his high estate,’ aad General Forey is charged with being the renegade who has broken through the laws of honor and compatriotiem The Paris corrempondent of tae London Times states that General Forey has been recalled; and the followiog extract froma letter written by a gentleman of this town, with whom we are acqutinted, gives ‘the reason why,’’ if bis information may be fally relied upoa:— BALAKLAVA, Fob. 22, 1565. The navvies are going ahead. The Kuglish made s demon accoun| 0 fore this reaches you ment, ail is quiet. Qooasional ton and the enemy, which reeult in loss on both sid any real advantages, serve to ri om that Liprandi inte the fo that With rem y ip the excitement among things out here now. The half be went home, and ditto with be it The most mm to the Ri a, ibited to the gaze of wondering f esible asa traitor. [tis hoy 01 camp. I am iu # tre lace in the Gulf of Bur , and have & go0d quantity of gold on board to pay for the cattle, if any can be got “. ‘The following is the London Times version of this ex- traordipary aftair:—‘General Forey’s return to France is amr ounced. This officer commanded the corps em- ployed at the siege before the arrival of Genera) Pelissier from Africa, and it ie rumored that he has failen into disgrace. To him is attributed, justly or otherwise, the failure of the bold coup de main attempted by General ce Lourmel, and in which the latter lost hia life. There is pow in Paris an officer who states that he was one of the number who actually entered Sebastopol on that oc- cusion.”? fort referred to was made on the glorious y of Inkermann, when the French, in ie, followed the retreat! Russians into the town. General Forey is therefore, if what is stated is true, ia chargeable with cowardice in not maintaining the advantage he bad gained, for, it is sumed that, i€ he bad done +0, Sebastopol would that day have fallen, and he would bave been the greatest man of the cam- paign. If he threw away then the chance fortune had thrust into bis hands and sacrificed himself, and, for Uae time, the allied army, such @ man deserves’ the severest puviabment; for, bad Sebastopol been occupied on the bth of November, 20,000 brave English and French sol- diers would not have sickened and died. from starvation and disease, on the barren hills before that beleaguered city, We cannot believe it is true, at least we bope it is not; but we have given the authority for the statements which point to an adverse conclusion. THE BATTLE OF EUPATORIA. OMER PACHA’S ‘DESPATCHES. [From the Londen Times, March 10.) The cespatch in which Omer Pacha gives an account to Lord Raglan of the battle fought by the Turkish troops at Eupotoria, on the 17th of February, is remark- able for its force, precisien and com; mess. Perhaps it is easier for those who, like ourselves, have to com- ment on these occurrences, to pass a correct judgmeat on the style of a military commander than on his stra- tegy and his tactics; but to a practised eye the atyle of a despatch is as characteristic as the physiognomy of its writer, We vaturally infer confusion of ideas, irresolu- tion or neglect, {rom a slipshod letter, which leaves half that we want to know untold; but a commander who knows what he is about Cee straight to the essential it, brings the whole state of affairs presently jore the reader, and embraces in a few compre- hensive sentences every dctail which it is useft learn. ‘Ibat is the reason that the Commentaries of Cwsar or the despatches of the Duke of Wellington bear the stamp of their military gentus} ‘and, without pre- tending to compare the Turkish Muschir with those f the art of war, his account of the operations rmy contrasts very favorably with those of the official communications we read from the Crimea Our own correspondent’s letter of the 18th of February, which has now come to d, completes the picture of this action, which is undoubtedly one of the most brilliant achievements of the war. ‘The Russian Generals in the Crimea, fi that large reinforcements cortinued to reach Omer Pasha’s army at Eupatoria, and that the fieldworks round the place were speedily assuming a more complete cha- racter of defence, appear to have resolved that an attack om the position could no longer be delayed, if any attempt wes to be made to dislodge the Turkish arny which has established itself on their flank. The troops intended for this enterprise were withdrawn from the camp before Sebastcpol about the 12th of Feb- ruary, and, being joined by reinforcements both from Simpheropol ana from Perekop, they advanced on the 16th against Eupatoria. The force of this corps is estimated at 30,000 men, including a large divialon of pounders, for the Russians appear, in on other occasions, to have the means of 0 of artil- lery into the field far ex: eeding in in any other army. In this 8 of thelr heavy guns was successfully oppoted by that of our ships and gunboats, and the Turkish field artillery lik- wise displayed the utmost firmness and skill. The town of Euputoria is built upon.a crescent shaped bay; the coast on the east of the townruns along a narrow bank of shingle, which divides an extensive salt lake from the sea, and this lake protects the place from a direct attack on that side. enemy, there- fore, advanced from the north, and the’ precise direction of their attack remained for some time upeertain, The Russian soldiers had suffered severely on their march, for the country was almost passable, and the weather inclement; the baggage of be arm; ‘said to be sixty versts in the rear, and the men to carry provisions for six days, ‘The action commenced before daybreak with » heavy cannonade, in which the vessels of the allles on both sides of the town took an effective share. Atter some hesitation as to the mode of attack, the Russians at Jength advanced with planks and ladders, supported by a heavy fire of skirmishers, to storm the works on the right of the porition, This attempt was repeated twice, or, as Omer Pasha says, three times, and as oftem re- pelled by the steady re of the Turkish infaatry in the works, while French and lish marine artillery did great execution on the Russian batteries. Although General Liprandi en to bave commanded on this occasion, and is not improbable that Prince Menchikoff was in the carriage which was seen among the Russ:an cavalry, the Sack wea not conducted with, greet kil or ima. peta and all the honor of the day rests on nic of the forces, but more especially with the troops of Omer Pasha. Russians retreated in good order, and there was neither cavalry nor horse artillery to ursue them; but subsequent accounts have shown t they suffered frightfully from the cold on the nights succeeding the battle, ani probably lost more men by the rigor of the climate than they had done by the fire of the enemy. ‘On several accounts the battle of Eupatoria will de- serve to be remembered with peculiar interest in the annals of this war. The choice of the peace itself was one of the most judicious acts of the allied Generals when they landed in the Crimea, and a few months have sufficed to render it capable of resisting the attacks of a Russian army. ‘be examples of Kalafat and Eu- patoria are instructive, and we may add demonstra- . proofs of the value of the modern theory of field fortification, and of the rapidity with which « well-combined system of earthworks may render = ition im ble, At Sebastopol similar measures ave been taken to oppose the pi se of the siege; at Kalafat and Kupatoria they have successfully em- ployed against the Russians. But all these instances prove that the old theory of the superiority of attack over defence 1s materially shaken, for in every instance in which a place has been attacked dui the present war the advantage bas been on the side of its defenders. ‘That is's result which the old system of fortification never attained, and it is worth while to inquire, bao cially with a view to the defence of our own country, by what means it has been accomplished, for they are, as we have seen, simgle, expeditious, and economical. The defeat of the Russians at Eupatoria was the last in the life of the Emperor Nicholas, When the news arrived at St. Petersburg, he was already stricken by the disorder which soon atterwarés proved fatal to nim, and it probably aggravated the anxiety and irritation felch 1 llamo go of his death. = tee attempt on Eupa’ was an enterprise whi: Russisn officers in the Crimea had been ordered to un- dertake at the earliest possible moment that the season enabled them to move any part of the army. It failed, like every other undertaking of the Russians in this war; for, by a singular concourse of events, not oae offensive operation of their forces in Europe has suc- ceeded, from the battle of Oltenitza to the present hour. The humiliation aud the sting of defeat to the lave Czar Nicholas must, however, have been greatly increased when he learnt that his forces had again been driven back by the Turkish troops, and that the armies of the ‘sick man’? under Omer Pacha recover all their energy every time they are opposed to the Russian jegions. failure of the attack on La anid was, of course, dissembled, a3 usual, in the Russian bulletins; but Emperor him- selt probably knew the truth: he was awareof the ex- treme importance of Kupatoria to any army contending for the possession of the Crimea, and he doubtiess fore- sew the injurious results of this disaster upon the opera- tiens of the ensuing cam: The last incident of his life was, therefore, the defeat of a Russian army d fending his own territory by a Turkish army which hed successfully invaded it. A more complete reversal of those haughty designs and confident expectations with which this war was begun by Nicholas, it is impossible to conceive. He lived long enough to witness and to endure an amount of retribution he probably thought impossible but a few monthe before, although the tomb has closed over his ambitions and his errors before the fall of Sebastopol crowns by ita great catastrophe his sinister career, ‘THE RUSSIAN ACOOUNT. [From the Invalide Russe.) We knew by the report of Prince Menschtkoil’s alde- de-camp, of the 12th, that on the 34 the Turkish troops disembarked at Bupatoria bad maie an offensive move- ment upon the village of Seki, in numbers of more than 000, In order to assure himself of the exact amount of the enemy's forces in occupation of Hapatoria, and to ascertain if there was not a possibility of expeil’ them, Prince Menschikoff ordered Lisutenant.General Chruleff to execute, on the 17th, # strong reconnais- sance upon that town with a party of troops stationed in the vicinity. The troops destined for thi operation approached Eu- patoria within the distance of 250 yards, and opened a crons fire of artillery upon the place. The enemy responded with a lively connonade from the fortifications which surrounded the city; neverthe- less, the action of our artillery was so happily exesated that in a few seconds five ammunition w: belo Carried away by this success, the 34 and 4th battalions of the regiment of the Azoif infantry, the batcalion of Greek Volunteers, and the thrae sotnias of the regiment No. 61 of Cossacks of the Don de Jeroff, got nearer to the town, and, profiting by the shalter which the lo ty offered, commenced a smart fusilade with the enemy; nevertheless, General Chruleff, being assured thet the town contained nearly forty thousand troops with one hundred pieces of artillery, and that farther effort on oar romised no result, gave # to the troops t> retire. th difficult movement was execuved with re- markable order. Our loves in thie affair amounts to nearly 500 men killed or wounded. The loss of the enemy was in all pro- bability much greater, for bis troops, peat up in narrow streets, remained for a long time exposed to the terrible fire of our artillery, the projectiles of which had clear range of the entire town. THE PEACE NEGOTIATIONS. THE INSTRUCTION® TO THE AMBAS*ADORS— MEETING OF THE CONFERENCH. [Vienna letter, (March 5,) in Paris Constitutionnel. ) Baron de Bourqueney, it is known, received nearly a week back his full powers for the Conferences about to open. The Emperor Napoleon has not conjoined with bim any pther plenipotentiary, Austria and Great Bri- tain bad, however, expressed the desire to have one named, if only a8 » matter of form, inasmuch as the other great Powers were to be represented in the Con- ress each by two Reninstentiaries, soon aa it aoe adorei how @attering such a was for | Baron ée Bourqu’ and that it wus by the ex- press order of his sOvereign, every one hastened to ap- plaudit. The instructions which accompany the powers sent to Baron do Bourqueney are, it is e'ated from Paris, precisely the same as those of Lord John Russell. The cabinets of France and England have desired to pro thereby once more their perfest understanding in every: thing that concerns the arrangements for peace, not only as regards principles, but also as to questions of detail. ‘These instructions are, it is said, very rine. sper leave to the conacientious sppreciation of Fren: and English plenipotentisries to ascertain and decide whether or not Russia is animated with the sincere de- sire toeffectan honorable and solid peace. !t is not necessary to state that the protocol of the 28th Decem- ber last, setting, forth the interpretation of the Four Guarantees, 18 to serve as @ touchstone for ascertain- ing the sincerity of the pacific protestations of Ras- sia. If *the ipotentiaries of the Western Pow- ere acquire conwetion that Russian diplo- macy desires to elude the guarantee exacted by the allies, of the 2d December, they are to cut short an idle discustion and declare the negotiations closed. It was this second alternative, which, before the death of the Emperor Nicholas appeared the most probable, te which Palmerston recently alluded, when he said in tne House of Commons that the absence of Lord John Rus- sell would not be of long duration. The Cabinet of Ber. lin having neither adhered to tht treaty of 24 December, nor even accepted the protocol of 28th December, as proposed by the Cabinet of the Tuileries, to prepure the ‘way for itsentrance into the Congress, the instructions of the Englien and French plenipotentiaries set forth that “ open apart from and without the exapenten. of Prussia,” France and England be- ing firmly reselved not to accord to that Power pay a ticipation in the settlement of peace, ‘until if shall have placed itself, with respect to the four guarantees, on the same line as bye rare to the treaty of alliance o1 the 2d December.” is declaration was, it is said, made to General Wedell, by order of the Emperor of the French, in auch peremptory terms that the General deemed it indispensable to go to Berlia to inform King Frederiek William of the veritable state of things. [From the London Ni } ‘The negotiations bave in at last. Lord John Rus- sell arrived at Viennaon Sunday evening, and the first conference of the ambassadors took place on Tuesday. ‘The subject discussed is said to have been the precise meaning of ‘‘the third of the guarantee points.” As ‘arcs the result of their discussion the telegraph is silent. The discussions and the resolutions which ma; now betaken will di e whether we are to regar the young Em of Russia as the antagonist of Ku. rope, the astailant of the Ottoman Empire, and the dis- turber of the public peace, iselated from almost every other State, and unsupported by a single declared ally; or whether the Cabinet of St. Petersburg will seize this opportunity to bury its hostilities in the tomb which is not yet closed, and to renew on equitable terms those pacific relations with the rest of Kuropa without which no Empire can be pros; us Or Fecure. ‘The German Joui fort has letter from Vienna, which states that Lord John Russell and M. de Bourqueney have agreed upon an identic memorandum to be submitted to the Vienna Conference on the part of England and France. The interpretation of the third point is ipdicated as distinctly including the transforma- ion of Sebastopol into a simple commercial port—the fortresses thereof being destroyed. The proceedings of the conference are to be circumscribed within fifteen days; within which period the Russian Envoy must give im his reply to the proposition of the allies, THE SARDINIAN MANIFESTO. The Piedmontese Gazette, in an extraordinary number of March 4, publishes the following manifesto of the go- vernment of his Majesty the King of Sardinia, Victor Emmanuel Il., relative to the aceession of his Majesty to the treaty of the 10th of April, 1854, between France and England :— For a long time Europe has regarded with just and jealous suspicion the continual sggrandizement of Rus- sia, the progressive application of that system which Peter the Great ina ated, more naturalised in the nation perhaps than in the Muscovite sovercigns, and tending with all the forces, visible and invisible, to the conquest of Constantinople, not as a final end, but as a besiening and step to new and more unmeasured ambi- jons. These projects of Russia, subversive of the equilibrium of Europe, threatening to the liberties of peoples and the independence of nations, never revealed themselves, perhaps, so clearly asin the unjust invasion of the Da- nubian provinces, and in the diplomatic acts preceding and following it: It was with good right, then, that France and Seas. after a long and useless attempt at means of conciliation, had recourse to arms to support the Ottoman empire against the aggressions of ita power- ful neighbor. On solution of the Oriental question depend the destinies, not immediate, but future, of Europe and of Asia, and, more directly and proximately, of those States bordering the Mediterranean Sea, which cannot, therefore, indifferent spectators of a struggle in which their own vital interests are concerned, which will determine whether they remain free and independ- ent, or become vassals, in factif not in name, ef the come justiseet ihe on espoused by the generous de- 1@ justice of the cause espoui e us de- Sublime Porte, the con {sil so. powerfall always on the beart of the Ring, of aM i} the dig of the ‘Sational inde has ‘and pendence, have de- termined his Majesty the King of Sardinia, after the for- mal invitation which he has received from the two great Western Powers, to accede, by the act of the 12th of last January, to the alliance, offensive and defensiv stipulated on the 1(th of April, 1854, between their Mi jeeties the Fmperor of the French and the Queen of the United Kingdom of Great Britain and Ireland. But be- fore that act received the indispensable completion by the exc! ¢ of ratifications—before, therefore, it could n any way be put in execution, the Emperor — ‘amenting, with janguage net devoid of bitterness, that vhe rights of nations had been violated by us by having (as he supposed) without nial declaration of war rent an expedition to the Forge Rar hay Crp King, besides, of ingratitude in having forgotten the ancient proofs of friendship and sympathy given by Russia to Sardinia—hastens bimeelf to declare war. Without stopping at the supposed violstion of the rights of nations, which could only be an error of the Chancery, we will observe that, with the ancient me- mories of friendly correspondence passed between tne predecessors of his Imperial Majesty and those of his Serdimian Majesty, the Emperor might have compared other more recent and personal recollections of his own behavior for the last eight years towards the Kings Carlo Alberto and Vittorio utle Secondo. But, first of he should have purauaded himself that his Ma- sty approached this elliance not through for, Yalness of amsient frienaships, nor ch rese: ae sof Cher oily cotta bat a ey cr heen ge of being us n to it, both by the ganeral in- terests of iarepe and the particular interests of that nation whese desticies Divine Providence has committed to bim; and it is therefore that, in taking part in a seri- ous war, the king never doubts the anawer to bis appeal from the old faith of his belo ), the bravery of his soldiers, confiding, as he confides in the protection of that God who, in the course of eight cent , has #0 often supported the thy of Savoy in severe triale, and guided it to glorious mucceases, Hi cure in the conviction of ha’ done his duty, nor will #0 many severe and cruel afilictions diminish bis resolu- tion constancy in the defence, with all his power, against all aggressions whatsoever on the sacred in: terests of the people, and the imprescriptible rights of the crown. While the king desires that the negotiations for peace already initiated in the city of Vienna may be nuccesn- ful, in fulfilment, hor of the obligations contracted towards France, Eng! Turkey, he has ordered the uncersigned minister to declare, in virtue of the above- ioned act of accersion, his land and sea forces to be yn Empire, The undersigned declares, besides, the orders of hir majesty that the exequatur accorded to the Ruerian con- suls ap the royal States should be revokea; the p ‘an subjects nevertheless to be competent term accorded Sardinian ports. CAVOUR, o. The President of Council, Minister of Foreign Affairs, Turis, March 4. 1856, Interesting from Holland. TROUBLE WITH THE UNITED STATES ABOUT BIRD'S ISLAND—WAR STEAMER SENT TO DRIVE OFF PHE AMERICANS BALL BY BELWONT AT THE HAGUE. [From a Rotterdam letter, Feb. ip) A private letter from St. Thomas, dated January 50, addreesed to 8 commercial house in this city, states that of Aves, which belongs to Holla oe cee and that majesty in #e- Papers that commun:- cate this inteligence to Ducea public, contain a highly-colored description of a ball given by. Mr. Bel mont, the American minister, to the royal family and three hundred of the elite of the aristocracy in the Hague. Could this have been the gilding for the pil ’ or ‘was it thought to drown the report of hostile caunoo in the melody of ball-room music ? The Dantsh Sound Dues. THE PROTEST OF PRUSSIA—THB CONDITION OF POLAND. [Prom the Paris Patrie ] Ocr letters from Berlin state that the Prussian govern- ment 18 far from witnessing with displeasure the eager- nees with which the First Chamber urges its recommen- detion that the Cabinet should follow a6 tee negotia~ tions with Denmark for the abolition of the Sound dues. Independent of the great and vivid interest which the maritime commerce of Frussia hasin the suppression of this impost, the government has an idea for the future at bottom. By provoking an en tic manifestation of public opinion on the point, it looks, on turning it to account in the coming negotiations at Vienna, as au- thorising the demand that the Sound dues be taten up a8 a matter of general and European interes, and be in consequence so regulated. If this pretension shoald be admitted, Prussia will hi ‘ttained one of the principal aims of her commercial policy, without untying her purse or proffering any kind of compensation. On the other hand, if the European Powers conceive that the matters actually pending are sufficiently importart and snfficiently entangled as not to render further complica- tion derirable in the adjanct of a secondary questio: and should refuse to occupy themselves with the basi ners, then Prussia will have gained a fresh pretext for eh delays that bave hitherto formed the tie Meantime —— ~~ et 6 soffering, particularly in the eastern pro- Hine Hiagom. The city of Danteic, which the principal outlet for Polish produce, has ing for months. The export of the tof Kurian has entirely ceased. Ordi- pnarily the merchants ef Dantzic were in the habit of buying entire standing forests, and felling them. But now pocne dara to meddle with much speculations, whch, though they rometimes prodaced immence profit to the adventurers, bad always the certain reenit of Jeoving large wume ip Polleb bands. Thus the Polish journals are Glled with offers for sale of mansions and estates of all sizes. And if commerce is suffering in East vrai, 3 ‘ew worse in Silesia. Jn that Lo vines, whic! Ireland of Pro: — reached ‘At Breslau its envir * exten bare td ven ve been found literally starv Ts the m ‘hood of Russia contagious to these previnces, w! laborious and patient population is certainly worthy Of a better fate? ee ithe Kisg of Demaoe oan tnd = ing of Denmark was dangerously ill. The Legislature had resolved to impeach the ex.Minis- tere of War, Marine, aad Finance. Latest from Spain. THE CUBAN ABMY TO RE REINFOROED. MavriD, Thuraday, March 8, 1855. A battalion of marines lett Cadiz to-day, for Guba. 5,000 men will leave in May. ‘The army of Havana will be augmented to 30,000 men. Markets, Lonpox Money Marker, Friday Evening, March 9,— ‘The English funds opened to day at the dull prices of last evening, and a subsequent tendency to improvement was checked towards the close of business by some spe- culative sales. Consols for money were first quoted oeN to 93, whence they advanced to 933; to 4. Various idie rumors were then circulated of the Vienna tiations having assumed a more favorable prospect, and the final transactions were 92% for money, and 927% to 93 for the ith of April. The general business of the day was un- important. Bank Stock, Reduced, New Three Conts, Long Annuities, are now all shat for the dividends, India Bonds left off at 11s. to 14s. premium; Ex’ uer Bale bs, to 9s. premium, and Exchequer Bonbs, 991, 0 34. Xoans were obtainable in the stock exchange to-day on government securities at from 2 to 2%, per cent, In tbe discount market there has been no material de- cline, oving, to the rate for the best paper being already sufficiently low to prevent any large applications at the Bank of England, where money ia consequently accumu- lating, s0.as tobeep the supply out of doora within limits, which are not more than sufficient to meet the general cemand. ‘There was less activity in the foreign market to-day, and quotati sneer exhibited heaviness. In Turkish the transactior ere at 7994, 3¢, amd 34 for money, and 795¢ and 3 for the account. The uotation was 7934 to 8%. French scrip closed 4% to 534 premium. ‘The other operations comprised—Mexican, for the ac- count, 203 and 3{; Spanish new deferred, 1834; and Dutch Four per cents, certificates, 943, and 94. ‘The closing accounts from the Paris Bourse this eve- ning indicate steadiness, witha slight tendency to an advance, owing to money purchases. At Amaterdam the markets remain, as has been the case for some time past, without the slightest variation. From Vienne the quotations show a decline of one per cent in the funds, but an improvement in the money market to rather more than that extent. The mercantile letters from the Continent continue wholly uninteresting. The rates of exchange at all the rincipal cities maintain a good appearance. At Ham- urg money is in rather incre: demand, but it is still obtainable at 214 oem The on has announced of the mercantile firm of Anthony Nichol & Son, in consequence of specu- lations in tallow and other Russian produce. The se was an old and cane one, and the liabilities are supposed to be rather large, while as regards assets the prceects oes now held out are said not te exceed 12s, in the pound. by sanguine view entertained during the past day or two, of the prospects of peace, has caused some recovery in the tallow market, the quotation to-day List » Which is an advance of 3s, from the recent leclin The rest in September last, after the payment of a di- vidend of 43 percent, was £3,000,027, On the present occasion it is £3,684,524, subject to any small variation that may have taken place between the Sd and 10th of March, and 4% per cent deducted from this would leave only £2,079,639, A dividend at that rate can therefore scarcely be expected, £3,000,000 being the amount at peed it hae been consicered the rest should be main- tained. 4. DENNISTOUN AND CO.’8 CIRCULAR. LiverPoo., Friday March 9, 1855. Corron Marxet.—The market opened on Saturday with @ good demand; 12,000 bales were sold, and a full 3,4, advance wae obtained. On Monday the demand was very animated, and the sales were 20,000 bales at 144. advance on Friday’s prices. But since Monday the mar- ket has relapsed into dulness, and has lost 354, of the revious advance, “priees closing to-day barely td. Eigher than on this week @ sales for the week are 87,170 bales, of which 29,220 are om speculation and for export, leaving 57,940 bales to the trade, Tho sales to-day are 7,000 bales. Market flat, We quote— Fair Ori . mek middling .5 3-164, ae a, instance, to a very general expectation that peace would follow, and gave rise to great bnoyancy in nearly all warkets. But though no fact has come to light adverre to this expectation, the buoyancy has left us, and doubta have arisen as to the course which the new Emperor may be induced to follow. In the Manchester market spinners, on Tuesday, de- manded 34d. advance, but only succeeded in obtaining 3od., and the extent of business done was less than was Wwoked for. Since Tuesday the maraet for most articles has fallen to its former level, In the money market gold continues to be received in considerable quantities, and as the exchanges have fur- ther improved, very little of it cam-be wit adval most of it finding its way to the Bank ¢ Epglan Hence hopes are entertained of an easier mo- mey ma Th e of discount ir to-day about 43¢ percent. Console jose 93, Conn Marxer.—The market continues very inactive, and prices must be quoted this week 2s. per barrel lower for flour, 2d. per 70 Ibs. for wheat, and 2s. 6d. per quarter for Indian corn. restern Ca’l cup. flour, new, per bbl..338. @d. a 37s. 0d, Balt. and Phila. do. “¢ , 878. Od. w 39: A, Obio do, We Sour do. White U. 8. wheat, per 70 Ibe. Red and mixed 0: «“ Yel. Wh do. ASHES are quoted at 30s, per cwt. Rosin. —The sales have been large, and 3,300 bbis. sold at 4s, 60. to 58. per ewt. for common American. ‘SPIRITS OF TURVENTINE is worth 368. per cwt. TaLtow.—The market is very depressed at 50s per ewt. for Y.C., and 43s. to 46e, per cwt. for South American. Ur iad 200 tons have been sold at 478. to 508. ewt. Peuus-Palm oil bes fallen in price, 300 tons having been sold at £37 to £40 pertun. Vale eeal is worth £5: No change in rape oil. Ricr.—The demand has been very good; the sales, which have been large, are all Fast indian. Dyxwoops,—There has been more doing, on account of recent arrivais, but prices have fallen; 300 tons Cam- peachy Jogwood have brought £7 be. to £7 7s. 6d. per ton; 300 tons fustic, £5 10s. to £6 for and £5 10s. to £5 126. 6d. tor Savanilla, and 230 tons barwood, £4 108, to £5 7a, 6d. per ton, ~ BARING BROTHERS & CO.’8 CIRCULAR. Loxvon, March 9—5 P. M. ‘We have to report a fair business in the colonial and ine hyee markets this week, without material alteration in prices. Money in less demand. Consols leave off 9274 for money, and 93 }¢ for the account, Dollars, the price of thelate arrivals is not yet fixed. Bar ailver bs. 13¢d.; South American doabloons 75s. 9d. American Stocks —The business has been inconsicer- able this week, without variation in prices. Cocuinat.—No public sales this week, ‘The in firm, and éeliveries ratisfactory. Stock om 31 inst., 6,097 serops against 6,537 serons last year. We quote 3d. @ Se. 10d., Diack 9d a 5s, rifte silver 3. td. .y blach 8s, 11d Cocoa firm, with little offering. Corren without change.—Tough cake Beat selected £129, Sheathing 14d. Yellow metai 12d. Corre: —The market ie firm, and the quantity of Plantation Ceyion on the market being small, prices have advanced 6d. @ 1s. per cwt. 420 casks, 1,000 bbls. and bags have been offered during the week, and realized fuil prices, from 48s. 6d. for fine ordinary to 61s. 6d. for middling. Native Ceylon has also been in more ¢emand, and about 7,000 bags have changed hands from 46s. 5 47%, Two cargoes of Rio bave also been sold, one of 4,000 bagn at 40s. 4344., amd one of 3,500 bags at 40s. 9d., both for near ports, insured free of particular aver- The market on Monday was much depressed, few soles of English were made at a declize of To-day there was rather « better feel- English wheat was cleared off at about 8. In foreign very little doing wheat at T6n. 9 80s,, red 728, jean flour at 6s. a 40s. per bbl. rage price of English wheat was 688. 64. on returned. ‘The demand has improved, and the sales for the week are 1,760 bales, atabout yd. advance. At Li- verpool there has also been more activity; mid. Orleans is quoted at 6 3-14, a 6344 per Ib. Davos, ke—In the absence of public sales we have little to report, Flumbago—105 bbls. sold at 7s, for or divary lump. Sales of cutch at 274, Jalap, 24. a 2s, 1d, Ipecacnenha Ss. 4d. a Se. Od, Quicksilver, Is, 1d. Tur- | keg opium, 198. Hewr.—lbe market has been much unsettled by the rews of (be death of the Emperor of Rossia; quotations for St. Petersburg are nomioel 857 bales Manila have been offered at auction, and only teo lots sound found boyers from £98 a £48 68. for ordinary current qua: being a considers ble decline; the damaged sold at oh errates. Jute—2,690 bales in pub ic sale wore chiedy bought in from £13 a £17 for common to good falr quality. Vixniv0.—Cince the last quarterly sales, which termi- nated on the 26th uit.. there hav been a fair demand, and most of the bought iu and w: guod porition of 1 contiderably 1mproved tl Inox. —Tbere quote rails £6 7s. 6d. @ £6 120. 64.; 4, £6 10s, 7, free on board in wares. Scotch pigs have fluctuated very much, and are quoted this afternoon 56s. for mixed pumbers on the Clyde, The market is almost bare of Swedish iron to $8,111 , Of which 27,347 arrived from the Fast Indies, and the remainder from the Azof and Black Seas. In common with Russian produce generally, the market har been seriously affected by the late political events, and the price of Calcutta seed has declined to €08., and other serts bad Not At these rates ex- port orders bave been freely executed. Linsexp Cakes in moderate demand, and prices rather easier. Motasers doll. feveral cargoer of new Cuda, both murcovado apd clayed, are offering for arrival, bet do Lot find bpyere. acne Omns.—Sperm is very searce, and the pri of teased bas been advanced to $126. tn common fish there {#20 So i Ss ace seed, influemeed by seed, has rapidl: to S48. for prompt ries: a few sales for future 8 are reported at 86s. a 850. Gd. Rape has further 6d. a 598, for refined, and 50s, 64. 508. 428, Rick.—There is little disposition to purch: t vious rates, and of 2,770 bags Bengal in public sale the sound portion was bought in from lis. 6d. m 14s. for midél ng. 1,694 bags Madras mostly sold from 12s, @ 2s. 6d, for paitAling Coringa. Rom.—About 3 uncheons low to good Demarara have been sold from 2s. 1d. a 2s. 3d., but the market has since improved, and strong Demarara eannot be bought under 2s. 5d. a 2s, 6d. Sa.rrerne is steady, but not much doing; 23 per cent refraction has been oid at 28s., and 744 per cent at 24s, Svices.—Black pepper is ratber firmer, and 80 ood light Malabar brought 45d. Of 600 bags gooa joe the damaged sold from (4. a 43gd., the sound taken in at 43¢3. Cloves—15 bags fair Zanzibar brought from 614d. 2 6%4. Safllower—93 bales Bengal sola at Heady rates, from 52g, 6d. a 90s, for fair. ‘ * Svaar.—The market is steady at last weok’s prices. The sales of West India for the week are 1,550 hhds,; and of 15,000 bugs Mauritius and Kast India offered at auc- then, about one-half found buyers. 6 376 mate Penang brought tul) prices, and of 1,960 boxes Havana one- third sold at steady rates. Privately a cargoof 400 cases and 600 begs brown Babia has been sold afloatat 198. 3d. one of 240 cases white, and 40 cases brown Maroim at 228. and 18s 64. respectively, both fora near continental port; 7,000 bags current quality Manila at 3le., and 450 boxes Havana (floretes) at 248.8 248, 64., im bond. This afternoon a cargo of 3,500 bage white Paraiba is reported at 24s. 6d., afloat for Trieste, uninsured, PELTER is quiet at £23 108. a £245, AY in an unsettled state ing the wei but has since re- covered, and closes firmly at 49s, 6d, on the spot, and Bn, for April, ‘Tra.—There has been more activity this week, and a fair business is reported in middling and good us at satisfactory prices, and in common congou at a 936d., the latter prinelpally foe export. ‘Tin.—Knglith in moderate demand at late quotations. Banca, 1068, a 107s, ; straita, 104s. a 105s. in tia plates more doing; charcoal I. C., 31s, a 224,; coke 1. C, 268. 278, TURPENTINE.—Rough is difficult of sale at 8s. 6d. Spirits neglected; American in casks 35s. 6d. a 35s. Woor.—tThe fourth series of sales of colonial wool of the season cai a conclusionon the 3d inst. Prices on the whole were firmly maintained throughout, RICHARDSON, SPENCE & CO.’8 CIROULAR. LivekPooL, March 9, 1855. On Saturday Jast the country was astounded report of the death of the Fmperor of Russia. un- expected event almost paralysed the corn trade, and at Tuesday’s market, with a very limited business, petooo gave way 2a, per bbl. on flour, 3d. to 6d. per bi wheat, and 2s. per quarter on Indian corm. Since then the reduction has tempted some speculative purchases of Indian corn, at 4i er, for good mixed, and our m: ith @ fair demand for it at these rate! mixed of a Yellow was taken 41s. to dls. 6d., but towards the clove the market was rather easier. In wheat scarcely anything done, and flour could only be sold at 348. to 85a. per bbl. for Westerns, and 35s. to 38e. for New Bal- timores. English four is in large supply, at equal to 358, to 368 per bbl., and long as this continues, we cannot look for any improvement in foreign. Brxry.—The import this season is now almost three times aa great as at seme period last year, ana holders are anxious to realize, but buyers still avoid stock, though they might purchase at a considerable reduc! eee lor the week do not reach 200 tierces of all Pork.—The import is four times in excess of same period last year, and holders are anxious to meet buyers at a reduction. Bacon Is leo in excess of last year, and sells very slowly at 1s. to 2s. per ewt. decline. Larp declines to 47a. per cwt, without tinding buyers, except in retail. TaLLow, in consequence of the expect of political affairs, declined Gs. to 7s. per cwt., P. Y.U. being sold in Lonéon at 47s, To-day itis telegraphed rather firmer, with sales at 48%. to 40. Competes Rorin has declined under arrivale to 4s, 6d, per cwt, i, Quercitron Bark has declined to 9s. 6d., without uyers. Linsey Cakr—The season being now nearly over, has declined to £9 to £10 per ton. Corton.—On Saturday last the announcement of the death of the Czar caused a sudden reaction in the mar- ket from the dull state it had remaine i in fcr some time. The trade, specula'ors and exporters all became ir '#, and continued so till Monday, on which day reached 25,000 bales, at 1d. per }b. advance on the low sales of the previous week for “ordinary” and ‘middling,’ and 3¢ to 14d perlb. on the better qualities of American. Since then there han been less to buy, and holders having offered their stocks very freely, about an 34. per Ib. of the above advance has been Jost, and the market to-day closes quietly, with sales of 7,000 bales, — FINANCIAL. ANO COMMERCIAL. MONKY MARKET. . Torspay, March 27—6 P. M. There was quite a buoyant avd active stock market at the first board this morning. The Earo- pean news had a favorable effect on prices, and some of the leading railroad stocks were in demand at the improvement. Upwards of five thousand shares of Reading changed hands at the firet board, and closed firm. Erie Railroad sold to some extent today at an advance. The shorts were evidently large purchasers, and at the close the tendency was still upward. Iilinois Central bonds sold at better pricesto the extent of thirty thousand dollars; so @id Erie bods of 1875. The two most prominent stocks on the market at the present moment are Resding and Erie; but we do not think they will advance together, or that the latter can be long sustained at any advance on current rates, while the former has ® margin for farther improvement equal to that which has lately been covered. The pur- chases to-day show the strength of the parties en- gaged inthe movement, and daily returns of the cca! business on the road show ite enormous pro- dnetivenese. The eggregate coal tonnage for the momth of March will be about 180,000 tons, at $2 per ton, against 143,000 tons, at $1 70 per ton, for the same time last year. This increase in quantity snd price must swell the income of the company immensely. At the first board to-day Virginia 6’e sdvanoed 2 per cent; Iilincis Central bonds, j; Canton Compa- By, 4; Erie Railroad, 4; Reading Railroad, 1. Cleve- land and Toledo Reitroad declined. 4 per cemt. The market is on the whole in a more satisfactory state than if it was under great speculative excitement. Aty advance now realized becomes strengthened before another step forward is taken ; and, as the improvements which have taken place have been based upon actual changes for the better in the con- dition of the different companies, we msy iook for continued stesdinersin the market value. Where the advance has been rapid it has been justified by favorable ci: cumstances. It will be seen, upon refe- rence to the stock list, that some of the fancies have not moved muc1 during the past sixtyor ninety days, showing that there has been no general specu- Jation. Great discrimination has been exercised in operations thas far this season, and we have no idea that there will be less caution practiced as prices expand. The abundance of money bas brought many purchasers in the market, more for the permanent expploy ment ot « spital profitably than for any tempo- Tary speculative venture. The changes which have been made in the policy of our leadicg raitroad compenies have worked wonders in their financial condition, and the stocks are better worth current Tates than they were at the depreciated prices ruling ninety days since. We do not consider the stock market any more inflated than it was last October. Reading is, in reality, worth more than it is selling for ; Evie has improved considerably; railiosd bonds generally bay better basis, and, as a whole, there is mere solidity to every stock on the list—more sbility on the part of holders to carry them, and more confidence in their future productiveness. After the a’ journmen: of the board, the foliowing tales of bonis and stocks were made at auction by Simeon Draper :— £6,000 New York Central Railroad 7’s, int, added. .1011¢ y, 5, do...) 8B 20,000 N.Y. 8,000 Obio and Mississippi K R , 2d mort. 200 New York Unton Club, 7's, 10,(00 Missouri State 6's, 18% 10'sbares New York and New Haven Rai 11 do, Third avenue Kailroad 20 do. Home Insurance Compa The Island City Bank stock sold at auction yes terday brought 74 per cent; Bank of Commonweal :b 96 ex-dividend, and the Marine Bank 100. At the second beard lower prices roled and the market closed heavy. There was not much done. Erie feil off 4 per cent; Reading, }; Hodso2 River Railroad, §; New York Central Bvilroad, 4; Cleve- land and Loledo Railroad, ;glilinols Centra! bonds, }. Erie bonds, 1875, advanced j per cent. The Hamilton, Giobe, Tremont, Merchants’ and 6bawmut banks of Boston, have desiared eemi- annual dividends of 4 per cent. The Columbian and State benks wil! psy 34 per cent. Atthe first meeting of the stockholders of the hartge Albion Moning Gomyagy, eld Mar} 2, lle