The New York Herald Newspaper, August 14, 1857, Page 4

°4 NEW YORK HERALD. Deen Ere eee JAMES GORDON BENNETT, SDITUA aND PROPRIETOR. Ane NEW YORK HERALD, FRIDAY, AUGUST 14, 1857. the official proceedings. Bosales magrees were landed, to the oumber ef eix hundred, ner Triai- ‘The great regatts at New Bedford came off yestor- day afternoon, and is represented to have been a OFPION H. W. CORNER OF FULTON AND MASSAU OTF. | moet magnificent affair. The sbore was crowded = : — @ pe anven, aes AMUSEMHANTS THIS EVENING. —_— NIB! OS GARDEN, Broadway—Fortr Furr. Dttenmas-Livine'ee Fase vate fv BOWERY THEATRE. Gowery—Murniemo, b Gavesgamste—Goine ro tus Goopwoon - rus Last Lone Hor or FURTON’S THEAT! Broadway, opposite Bond st. — ¥ awp OLporataa—' or tH8 Wiss-tox- Wua—Tas Foun disrmas. W4LLAOK’S THRATERE, Broadway—Os.n0r or Inteaest Pur cosa. ‘with carriages and spectators, and the harbor was alive with steamers and eailing vessels, laden down with thousands anxious to witness the spectacle. ‘The weather at starting was stormy, with rain, and crory Weinenday, at fowrconts per | 4 otiff breeze from the southwest. Upto noon it wes squally, but then cleared up, and the wind gra- dually subsided. The Hazeand Silvia will probably take the first prize, and the Richmond the third. There was some difficulty with regard to the second class yachts, owing to a misconception of the orders of starting, and a orotest was entered. an invita- ov | tion was received from the Mayor of Newport to bold a regatta in that harbor. For a full account of the regatta see our telegraphic report elsewere. Our Washington correspondents state that Gen. ‘Case and Gen. Herran have closed their deliberations on the new treaty between our government and New LAURA KERWWS THBATRE, Broedway—Natap Qvsax, | Granada, and the result will be announced in a few on Rverns or tam Rane. days. The negotiations were of a most friendly cha- ACADEMY OF MUSIC.—Gaaxp Ononst Oraza sy Onn | racter throughout. Orders have been issued to rein- Bowpxen Pexronmens. amp Twaurr-rive BARNUK'S AMEBRIOAN MUSEUM Broadway—Brmerus Mumprascsr—Ovniosiris, 40. @BO, CHRISTY & WOOD'S MINSTRELS, 446 Broad Fas Marqvessne Bii—Neono Minereaasy, &c. i BUCKLEY'S NEW HALL, 68 Broadway—Ersiorian Gongs +mp BURLESQUES—Down iM ALaBAwa. MBCHANION HALL, Broadway—Nuwszo Matovtas, (26.—ShAKereeEan Spsketes be botaree Reece —— CHIWESE BUILDINGS, 535 Broad Svea way - EXTRAORDINARY , £0.—By tus CuupeN oF THs BUN, Bew York, Friday, August 14, 1857. . Malls tur Europe. THE NSW YORK HERALD—EDITION FOR EUROPE. ‘The Collins mail steamrhip Baltic, Capt. Comstock, will beave this port to mcrrow, at noon, for Liverpool. ‘The Furopean mails will close in this city at half-pastten o'clock to morrow morning. ‘force the army in New Mexico, and for absent officers to return to their posts. The amount om deposit in the treasury in Washington en the 10th inst. was $22,637,952 87; subject to draft, $20,021,498 60. A ‘detailed report of the Indian disturbances in Minne- sota and the Lower Bioux agency had been sent in to the Commissioner, by which it appears that the Yanktons are desirous to make a treaty. Ick pada tah and his band had been given up to justice. Hon. J.J. Seibels, our Minister to Brussels, had tendered his resignation. Private advices received in Washington from Texas state that ex-Governor Henderson will be ten. dered the seat in the United States Senate vacated by the death of Gen. Rusk, and that Col. Jame Reiily will succeed Gen. Houston. A great repeal meeting was held by the democra- cy at Tammany Hall last night. John Cochrane, Daniel E. Sickles, and others made speeches. A ‘The European edition of the Hxratp, printed in French | full report of the proceedings are given else where. @ad Engitah, will be published at ten o’otcck in the morn- The Young Men's Republican General Committee a. Single copies, in wrappers, six cents. met last night at Stuyvesant Institute. An effort Subscriptions and advertisements for any edition of the | was made to exclude the reporters, and the Hsrarp New Yor Hunawp will be received at the following places ta Europe — Lowpos—Am. & European Express Oo., 61 ‘William at, Parw— Do. do. 8 Place de la Bourse. Do de. 9 Chapel street. Lavaarooi—R. Stuart, 10 Exchange street, East. Savas—Am. & Eoropean Express Oo., 21 Rue Corneille. ‘The contents of the European edition of the Hamatp will Combine the news received by mail and telegraph at this @ffice during the previous week, and up to the hourof piblication. The News. By the echooner Castilian, which arrived yester- day from Port an Platt, St. Domingo, we have ad- vices to 3d of August. Captain Lord reports that a revolution had broken out at Santiago, on the south ‘was severely berated in the debate, but the motion was lost. Simeon Draper was denounced by the young republicans, and compared to Benedict Ar nold. Commissioner Cholwell was pronounced a nincompoop, and Mayor Wood was adjudged guilty of nearly all the crimes im the calendar. after re- lieving their minds in this manner for three hours, the young gentlemen adjourned. This is very warm weather. There was an interesting meeting of spiritualista held yesterday at Winfield, Long Island. There were from three to four hundred persons present. Considerable speaking took place; several mediums were under influence, and the spirit of an Indian side of the island,on the 10th of July. A battle had taken place in the interior between the insur- gents and the troops of President Baez, with a loss of en hundred and fifty men. The President had a thousand men before the city of 8t. Domingo. The maile of the Capada arrived in this city last evening. The chief points of the news had already reached us by telegraph. We give this morning a very interesting account of the naval engagements between the English and Chinese fleets, near Can- ton, as they afford convincing proof of the great progress which the Chinese have made in the art of war. The London Post, Lord Palmerston’s organ, of the 30th ef July, contains a second article on the subject of Russian intrigue in the East. The la‘e mishaps in India are attributed to this influence, and the writer asserts that Russia works against Engiand in India, China and Japan, through the agency “ of American Sorn employés.” ‘We give some additional particulars this morning relative to the race for the Goodwood cup. The Jead in the race was taken at the stand by Viscount, the American horses bringing up the rear. After running @ short distance Prioress made a rush for the lead, which she took, and went several lengths im advance. On rounding the turn towards the “champ,” and when near the end of the race, she ran wide, and #0 lost the lead. The American horses are said to have gone particularly strong and well. Pryor was ridden by Littlefield, and Prioress by Gilpatrick. The details are given elsewhere. We have news from Mazatlan, Mexico, to the 18th of June. Letters had been received from Sonora, in which it was stated that Colonel Crabb, before he ‘was executed, made statements which compromised some influential men. General Yanes was very ill: | Senor Jesus Ainss was arrested in Sonoita by Mexi- | can troops, along with four Americans who were in his company. The Americans were put to death: Our correspondent in Acapulco, writing on the 28th of July, states that the reported return of Santa Anna was received by the people with great indig- pation. From Carthagena we have a copy of a paper signed by Santa Anna, explanatory of his | anti-Comonfort address and general policy. Private advices from San Juan del Norte, dated on the 1st inst., state that Costa Rica and Nicara- gue have made a treaty; Nicaragua having all her | old boundaries, except one side of San Juan river, from Fort Castillo down (ninety-two miles) to the harbor of San Juan del Norte, taking in Punta Arenas, which inclades all the buildings of the company. ‘We publish additional news from the South Pacific this morning. The dates are—Valparaiso June 30, Iqnique Ist, Callao 12th, and Paita 16th of July. moved one of the spectators to some extraordinary evolutions. We are compelled to leave out our re- port this morning. Mrs. was removed yesterday from the house 31 Bond street to the city prison. The scene at the house was exciting in the extreme, Miss Augusta falling into hysteric fita when informed that ber mother was about being conveyed to prison. Our reporter bas furnished a graphic account of all that took place, which see in another column. That “pleased,” or rather bogus baby, which figured so conspicuously in the Burdell farce, dii not prove quite so attractive during the day yesterday as the managers of the Museum had anticipated, there being little perceptible increase’in the number of visiters. A notice of Mrs. Anderson and the baby will be found eleewhere. The sale of the city property seized on an execu- tion of $196,000 in favor of Mr. Lowber, which was to have taken place yesterday, was postponed for one week by request of Corporation Counsel Busteed, Mr. Flagg refusing to have anything to do withit. A long and very interesting interview was had between Mr. Flagg, Mr. Busteed and Mr. Cushing, Attorney Genera! of the State, in relation to this matter, also the debt of $150,000 due the State on tax levy, daring which Mr. Flagg acknowledged the justice of the claim, but said he should not pay it, as he wanted it litigated. A meeting of members of the Mercantile Library was held last evening at Clinton Hall, Astor place, for the purpose of paying a tribute of respect to the memory of Wm. Wood, Eaq., late deceased, who had been the originator of the association, and one of its oldest members. Justice Stewart, of Monticello, Sullivan Co, has imposed a fine of $100 on a man named Scharer, for a violation of the Excise law, by selling both asa grocer and tavern keeper. Ex-President Filimore and Judge Harris arrived at Montreal on Wednesday. A large number oi savans from the United States are in that city attending the meeting of the Scientific Convention. The mate and crew of the steamer Aneioqua, be- longing to the United Magellan Steamship Compa- | ny, arrived here yesterday from Carthagena in the brig Sutton. Tne Soutbern Commercial Convention sasembied at Knoxville on Tuesday, adopted resolutions call- ing upon the government to withdraw the squadron from the coast of Africa and to fortify the harbors | of Mobile, and Port Royal, South Carolina. Resolu- tions endorsing Dudley Mann's scheme, advocating government patronage for Southern steamers, and | repealing the fishing bounties, were offered and | referred. ‘The sa es of cotton yesterday om braced about 600 dales In Pera the revolution had been renewed. Vivan- 00's headquarters at Arequipa were surrounded by the government troops, under General San Roman and Colonel Friere. San Roman advanced on the city in order to besiege it, but om the 29th of June the inhabitants rushed out and attacked him with great fory, driving beck his advanced posts and pe- netrating the centre of his linea. On the,30th of June Vivanco renewed the fight, and same evening bad encircled San Roman's force, each claiming the vic- tory. This was the most bloody fight recorded in the history of the republic. The government force Jost from all sorts of casualties twelve hundred men, whil# the revolutionists lost five hundred soldiers. ‘The frigate Apurimac was still at Islay, with six bundred and fifty men on board. At Callao a pro- munciamiento of the regiments stationed there in fayor of Vivanco was looked for. A good many officers had been placed under arrest. ‘The Aspinwall Courier states that a ramor was current that General Mosquera would be appointed Intendant General of Panama. We have news from Porte Rico to 27th July. The Spanish government had ordered a currency reform which gave great satisfaction. Our correspondent in Paraguay, writing from As- cencion on the 2th of May, reports the country quiet and progressing. The Brazilian steamers, ander the new treaty, ran up the river to Mato. Greano. A mild epidemic was prevailing} at Honolula, 8. L, on the 26th of Jane. Hon. Mr. Allen, Minister of Finance, had been appointed Chief Justice of the Court. Mr. Monsarrat had been forci- bly shipped from the island, by royal order, owing to his unfortanate escapade at court. The steamship Empire City arrived from Havana yesterday morning, with advices dated on the sth instant. The Empire City brought full details of the universal money panic which prevailed in Ha- vana. The Spanish Bank of Havana suffered se- verely, but was promptly aided by the Captain- General, who lent the sum of two millions of dollars to its coffers. General Concha advised and empower- ed the Spanish Bank to iseme $6,000,000 of deposit certificates in amall and large sums to suit the ge- neral want, at interest for six, eight and ten months, to be received at public offices as gold. The amount of absolute protection on night ef 7th instant was $8,530,000. This operated like a charm, and public cooidencs wan rewtored, We give a Cul report uf ‘at full prices, and at the close no lots of middling uplands of moment could be hed under 16}<c.; while middling New Orleans stood at about 16%. Flour was quite sieady ai the provious day's prices, while there continued to be ‘& good Eastern and local demand. Wheat was casier, and closed ai lower rates. Milwaukie club gold at $1420 $1 48 ; Southorn red at $1700 $1 12; and white do. at $176 881 82);. Corn was firm, with sales of Western mized ‘mt 850. & S6c. Pork was more active and frm, with wales on the previous aftersoon and yesterday of 1,6000 1,700 bbia. of mess at $24 60 0 $24.60. Sugars were more active at a decline of about \ cent thie week, with tales of about 2,000 bids. molad>, 1,200 a 1,400 hhds. Cabe muscovado, and 200 bores brown Havana at prices given tn ancther column. Coffee was quiet in consequence of the public vale of 9,366 bers of Rio advertised for to-day. Freight engagements continued to be light, withoul change al cea Henry A. Wise axp Epwarp Staxiey.—In the red-hot belligerent Congressional party de- bates of Van Baren’s administration the two most prominent and terrible Southern whigs in the House were Henry A. Wise, of Virginia, and Edward Stanley, of North Carolina Where are they now? Wise is the democratic Governor of Virginia—the Southern Achilles of the democra- tic party—and as such the especial party cham- pion among his numerous admirers for the next Presidency. On the other hand, Edward Stan- ley, having joined the general exodus some years ago of decsyed politicians to California, has turned up in that country of wonderful things the republican candidate for Governor—a South- ern man with Northern principles, in opposition to John B. Weller, a Northern man with South- ern principles. Thus, from the time that Major Botts slept under the same blanket with Captain Tyler, we have had the most curious transmo- erifications among our prominent politicians, inall directions. But should Edward Stanley, of North Carolina, be elected by the republican party Go- vernor of California, it will be an individual and & popular revolution only eurpassed by the elec- tion of » son of Henry Clay to Congres as a de- mocrat from the Ashland district. Such are the ups and downs of politics. We may yet live to eee W. H. Seward a roaring nigger driver, and Millard Fillmore a Methodist preacher. Who kaows: bea Orash? ©. ‘We perceive that come of our good old grand- motherty Wall street contemporaries, who shud” der et the bare méntion of an impending fican- cial revulsion, have been “whistling to keep their courage up,” end pronounce all predictions of & general collapse as but the cries of “a howliag dog,’’ and as utterly fallacious and absurd. A word or two, therefore, upon ‘this eubject, may not be unseaconable or unprofitable, even ia the “heated term’’ of the dog days. Our apprehensions of an approaching fiasacial revulsion bave not been shaken, but have rather been strengthened, by the facts and developements of the Iast two or three months. Oar importa- tions of the present year have been excessively heavy, beyond any precedent, while our exports have not only been comparatively light, but less than those of last year. With double the quantity of warehoused goods of this period last year, we have been receiving at this single port since the 1st of July importations averaging a miltion of dollars a dty. And what have we to give in exchange for these enormous accumulations? Cotton?—grain?—Ca- lifornia gold? Let us eee. The growing cotton crop is generally admitted to be a month behind, time, from the backward- ‘nees of the season. Assuming that it will be as jlarge as the crop of last year, will it meet the necessities of the heavy balances against us? The prices of the raw material are now too high ‘to remunerate the manufacturers of cotton goods, and euch goods have been made and are in ware- house largely in excess of the wants of consum- ers It is, therefore, very doubtful whether the prevailing prices of the raw material will bear any additional advance. Should they not, there will be a gap equal to about five hundred thou- sand bales of cotton to be filled up in paying for our importations. The first cotton ehipments may be delayed till the month of December, and during tbat month they will probably be very light. How, then, are we to pay from the cotton crop for the enormous importations of this sum- mer, without cotton bills of exchange for three and a half months from this date, and with very few for December? Next, with regard to breadstuffs) We shall have abundant, yes, superabundant crops of these eubstantials for exportation, if we can find a market. But neither England nor France nor Germany will want our surplus, for the harvest prospects all over Europe were never so flattering as now. One great result will be cheap bread for the mil- lion, at home and abroad; but another result will almost certainly be a deficiency in these exports, equal, perhaps, to another half million bales of cotton. Next, will any country in Europe accept our railroad bonds any longer? No; they have not taken any of our stocks or bonds, nor have we made apy financial loan of this sort in Lon- don since the commencement of the Russian war. Ah! but there is the unfailing equilibrium of our California gold. But let us not even here be deceived. The shipments of gold from California of this year fall short of those of last year each from two hundred thousand to four hundred thou- sand dollars. The deficiency of 1857, as com- pared with the shipments of 1856 to August, is already about four million, and it will be five er six before the end of the year. Next year it may be ten million, for as the loose gold of the wash- ings is picked up the work of collecting the pre- cious metal is reduced more and more to actual mining. We must cease, therefore, to rely upon the inexhaustible resoarces of Cali- fornia, and look our liabilities and resources fairly in the face; and prepare, too, for the consequences of our inordinate speculations, ex- cesses and extravagancee of all kinds, in view of the day of settlement. We may feel the first decided symptoms of the coming pressure for money as early as Decem- ber. We ehall, undoubtedly, experience the pressure of a drain of specie to Europe by the next spring ; but should we contrive to postpone the balancing of our accounts even a year or two longer, we shall only be adding in the inter- val to the burden under which we are even now staggering. We have been seized with the same mania of speculation, credite and extravagance that culminated in the collapse of 1837, and the disease has now developed itself in proportion to the facilities and temptations for speculations, peculations and prodigal wastefulness of every description. The inevitable revulsion is but a question of time, in the interval to the Presiden- tial campaign of 1860. The sooner the better; for should it be delayed to be thrown upon us amid the fierce excitements of that elec- tion, the consequences may be not only the financial bankruptcy of States, corporations and people, but a fearful shock to our political in- etitutions. The facts are, that we have been extravagant beyond the utmost limit of our resources, great as they are; that these evils of reckless speoula- tions, credits and extravagant habits “have in- creased, are increasing, and must be diminished,” and that the only remedy appears to be the ulti- mate forced collection of our debts from the im- porter of silks and laces in New York to the re- tailer in the wilds of Arkansas; from the finan- cier in Wall etreet to the land speculator in Kan- sas; from the wheat grower of the Genesee to the cotton planter of Red river, and from the manu- facturer at Lowell to the consumer on the Sacra- mento. We say, therefore, again, that prudent men will prepare for the day of reckoning, for it must come. Tur American Party or New Yorx—Waat's To we Doxet—Beginning with Virginia, the Southern State elections of this year have left scarcely enough of the late great Know Nothing or American party in that section for seed. The party, in fact, as national party has fizzled out. The question then recurs, what will the American party of the great State of New York do t—where will they go!—or what is the policy they propose to pursue in reference to our No™ vember State election? Asa separate faction of mere bushfighters they will have nothing but their labor for their pains. In a fusion with the Seward republicans they will be sold for a song, and any attempt at a bargain and sale with the democrats will prove disastrous to all concerned. Who bids for the rump of the late great American, party? They are to hold a State Council, we believe, in September. Let us await the conse- quences in patience and in hope. In the mean- time we think the best course they can pursue is to break up, disband, disperse, and leave every man free to choose his own party and his own principles. In this way, considering the admit- ted fact that Mr. Fillmore was run not to be elected, but to defeat Fremont, we think it highly probable that the result would be a popu- lar nevolution in November, of the greatest prac- tical value to this city, the State and the country. A few weeks more will tell the story, When nothing but the rump of a collapsed party is left, wy way lok gut for & ner moremaGa, Britain in Connection with Chem. ‘Whilst the dangers menacing the eway of Great Britain in Hindostan constitute at present the all-absorbing features of the news received from Europe, there are questions pressing upon our at- tention at home which have an indirect bearing upon British interests im the Eas:, and which will soon call for « decision at our hands, It is well known that the prevailing motive of the tenacity with which the English clung to the possessions which they had wrongfully aoquired in Central” America, and of secret aid end countenance which they afforded to Corta Rica in ite struggle against Walker, was the desire to prevent a monopoly of the Traneit routes by the United States, or by any other government likely to prove hostile to their interests, Great Britain has always looked upon theee routes as the future highways to her Pacific trade end her territories in the East. She bas never forgotten the apprehensions with which Napoleon’s invasion of Egypt once inspired her, snd Lord Palmerston’s frank declaration of the motives of his hostility to M.de Leasep’s Suez canalization project afford additional evi- dence of the uncertainty with which she regards .the prospective tenune of her present route to her Indian She feels, and hes always felt, that a violent dis- turbance of the political relations of the Euro- pean Powers might at any moment dispossess her of this route; and, provident as she generally is, the seeks to guard against the embarrassment that such an event might occasien her, by secur- ing, if not the exclusive possession of, at least a joint control over, the Isthmus communication between the Atlantic and the Pacific. How hard she struggled for the former it is uonecessary for us now to repeat. It suffices to say that, unable to obtain what she originally coveted, she now contents herself with the next best thing to it— the joint enjoyment with other governments of the advantages secured by the Honduras treaty- In becoming a party to that arrangement, England virtually acknowledged a principle which not only settled the most pressing of her existing difficulties with us, but which, serving as & precedent for her future course in regard to the other Isthmus routes, will, if she has the wisdom to act upon it, contribute an important source of strength to her in the present arduous crisis of her affairs. Let us just examine for a moment how these Isthmus questions stand, and it will become apparent that the course that we have indicated isthe only wise one for her to pursue. By the last advicesfrom New Granada, we learn that the government at Bogota have en- deavored to evade the difficulties in which they are placed with the United States in reference to the Isthmus route, by the appointment of General Mosquera as Intendant General of the Province of Panama, with full powers to protect the Transit line, irrespective of and free from the jurisdiction of the local autherities. This would be all very well as a feature of a comprehensive and stringent treaty, but standing by itself it holds out no security for the future. General Mosquera, a patriotic and high spirited man, will no doubt do his best to fulfil the objects of his commission; but after a few months exercise of his powers he may be called to some higher office, or displaced by the caprice of the su- preme government. We therefore look upon this appointment simply as an effort to compro- | mire an issue which will have to be decided on broader principles of expediency than those which seem tohave prompted the action of the New Granada administration. The Nicaragua Transit question stands ina similar unsatisfactory position. TheCosta Rican government have made a grant of the route to Mesers, Webster and Harris, and this grant has been ratified by the Nicaraguan dictators, Martinez and Jerez. Bat as it unfortunately happens that the present government of Nicaragua is a usurp- ing one, and not recognized by the great body of the people, it follows that the grant is only worth #0 much waste paper. So far as that republic is concerned. But admitting, for argument’s sake, that these arrangements are legitimate so far as the Central American governments are concerned, are they of a sufficiently secure and permanent character to satisfy the other nations whose interests are in volved in these questions? Will the United States and Great Britain, for instance, be satisfied to trust the protection of their commerce to the guarantee of governments which cannot count on their own permanence for a single day? With nations possessing stable ideas and whose imatl- tutions are based on fixed principles of policy, such an arrangement might be possible, but it is not to be thought of for a moment in connection with the Spanish-American populations. As an exariple of the absurdity of trusting to the ability of the South American governments to fulfil their own coutracts, we have only to point to the case of Peru. General Vivanco, who recently revolted against the authority of the supreme government, has taken forcible pos- session of the Chincha islands, and sells guano to all who will pay him his price. The government, unable to perform their contracts with the foreign shippers, appeal to the English and French Mi- nisters for aid. A convention is drawn up, by which it is stipulated thdt the latter shall protect the rights of the government. The treaty is sent to England for approval, bat Lord Palmer- ston refuses to ratify it, on the ground that Eng- land has no right to interfere. Our own govern- ment, which was to be admitted to joint action in this treaty, will, in all probability, return the same answer. The government of Peru is there- fore rendered completely powerless to carry out ite contracta, and the chief branch of the foreign trade of the country is brought to a stand still. And yet the government of Peru is considered one of the strongest in South America. It is clear that it will never do to leave our own trade and that of other nations, which will naturally flow through these channels, to the mercy of such contingencies, We can, readily understand that Great Britain has enough on her bands in her Indian and China complications to render her ind!sposed to add to her embarrase- ments by any further present interference in this quarter. But the interests of her commerce de- mand that she should not overlook altogether the ity that now presents itself for settling definitively these questions, If in return for the moral and material sup- port that we can lend her in her Eastern difficul- ties she will frankly concede the principle that the United States is the natural conservator of the interests of commerce and civilization on this con- tinent, and will not attempt to thwart our action by underhand intrigues, there is no doubt that these routes can all be placed under conditions similar to those of the Honduras treaty. This proof of confidence will be her best guarantee against our monopolizing the advantages of these routes, and her most effectual security against dhe giiosta gf our Mlibusters, Uf pkg will only Although the case of the Lowber estate has been making some excitement of late, very tew people understand what it ail means; and 60 sick and wearied have they become ef law proceed- ings, in which public officials and claimants to office have been engaged in this city for months past, that none but those interested will read either the arguments of counsel or the decision of judges. The proceedings in our courts of law arising out of the wicked legislation at Albany last session have become a great public nuisance. We will give in brief a history of this Lowber case, to save our readers the trouble of wading through a mass of documenta. As far back as 1853 it appears that come of the reeidents between Houston acd Twenty-third streets, along the East river, petitioned the Com- mon Council to erect « market in that locality, on the grourd that they were compelled either to purchase their produce from the retail dealers or go to Washington Market for their provisions, Theee petitions continued to be circulated until at length, in August, 1856, under the pressure of petitions and other means, the Council passed a resolution directing the Comptroller to advertise for sealed proposals to sell to the city a block suitable for a market, which he did, naming the sixth of November as the day on which the bids should be opened. On that day three bids were submitted, namely, the block from Tenth to Eleventh streets; the block between Twenty- third and Twenty-fouth streets, avenue A and First avenue, and the block between Sixteenth and Seventeenth streets—Mr. Lowber’sproperty— now at iesue. It was found on investigation that the first lot would cost when fit for the required purpose, $233,000—the second would cost at the price asked, $197,911, with ten years leases on a portion of it, which would have to be extin- guished at considerable expense—the third (Lowber’s) lot was offered at $196,000, free of incumbrances. No action was taken on these proposals until January, 1857, when the committee of the Council reported in favor of Lowber’s pro- posal, This report was accompanied by a reso- lution directing the Comptroller to purchase this property on deeds being duly executed and the title approved of by the Counsel for the Corpora- tion. The Board of Aldermen examined the pro- perty, and subsequently passed the report of the Council committee by a vote of sixteen to five. Mr. Lowber then called on the Comptroller, Mr. Flagg, with the deed of sale and the Corporation Counsel's certificate of title, and applied for pay- ment. Mr. Flagg refused to pay the money, and alleged, as one of his reasons, that the Corpora- tion were not entitled to make the purchase. He relies for this opinion on the authority of the 19th section of the charter of 1830, which de- clares that ‘The Common Council shall not have any eums of money whatever on the credit oleh svc loan shall be woedo, uslaas sorte Special act of the Legislature. —And as there is no money now at the disposal of the Common Council, it would be necessary to raise a loan in order to purchase this property, Of the eight millions of dollars te be raised by taxation for the year 1857, six millions have al- ready been raised on loans and expended; while there is yet due on the first of January next three millions, chargeable to the Sinking Fund. Un der these circumstances Mr. Flagg declares that it will require the closest economy to keep the treasury with its head above water. Again; the Comptroller argues that he is restrained from paying money for the required purpose by the second section of the tax law, which prohibits the disbursement of any portion of the eight millions levied for any purpose but those specifically laid down in the law, among which the purchase of ground for » market does not appear. So much for Mr. Flagg’s view of the subject, But it appears that Mr. Busteed thinks that the Common Council have the right under the char- ter to raise s loan without any act of the Legis- lature, except under certain restrictions, which do not apply to this case; and accordingly, when applied to to defend the suit brought against the city by Mr. Lowber for $196,000, he declared that no legitimate defence could be made, and that unless the Comptroller consentedjto pay the sum, the suit would be lost, and an execution must be put in force. Mr. Flagg, not content with this opinion, urged the appointment of another counsel, and Mr. Evarts was selected. By consent, the matter was sent before a referee (Daniel E. Sickles) who de- cided in favor of Lowber’s claim, and an execu- tion was accordingly issued against the city. Mr. Flagg expressed a wish to have the case appeal- ed, ashe thought that the question whether the Council had the right to create a debt which should be paid by raising a loan should be test- ed. From some cause or other—Mr. Busteed’s abeence from the city among the rest—the time for appeal passed by, and the Sheriff received the execution, which was to seize the property of the city to satisfy Lowber’s claim. So the matter stands now. And what a state of affairs it presents! Here is a public work pronounced a swindle by an executive officer of the Corporation, and the members of the Common Council denounced as thieves and swindlers—for such ,is the language used by Mr. Flagg in conversation with Mr. Busteed. What » commen- tary on our chaotic municipal government ! Then let us look at the financial condition of the city. Six millions out of the eight allotted for the current expenses of the year, already ex- pended, and three millions more still due; the credit of the Corporation reduced so low that loans at seven per cent can be raised with the Greatest disculty, lendors being wo alarmed jaf borrow the Corpo- in bya ent the utter disorganization of .our city affairs ty the fanatical legislation of the Albany clique that they hesitate to risk a dollar on the credit of the city, lest eudden bankruptcy ehould overtake it, It.isa-melancholy prospect ‘truly; and takes i” connection with the Street Commissioner digi- cuh,y and the Metropolitan police confusion, pre- eents a picture of municipal disorganization, in- eecurity and danger such aa no incorporated city in the world, under the worst of despotisms, ex- hibits. Tae Great Eastern—Waere 15 Mr. Dop- tery Mann t—One of our Wall etreet morning cotemporaries says that it has information that the Directors of the Company owning the Great Eastern “are proposing to reduce the price of tourists’ tickets from £100 to £50, and intend aleo to issue tickets on this side the Atlantic for @ European trip,” and that the route for tourists in this country will be euch as to embrace every- thing worthy of attention from Portland to Ohi- cago, Washington and Quebec. Now, why not include Norfolk, the very port appointed by Mr. Dudley Mann as the American terminus of a line of steamers of the capacity of the Great Eastern? It is bad enough to de cline to run the ship down to Norfolk; but it ig really too bad to exclude her Earopean-passen- gers in the A'merican tour chalked out for them from even visiting the port of Norfolk. The best thing, therefore, that Mr. Mann can now de is to go over himself to London, see the Direc- tore of the Great Eastern, lay before them the charts of our coast survey, the Southern com- mercial statistics of the last census, the proceed- ings of all the Southern Commercial Conventiony of the last ten years, and especially of that recently held at Oid Point Comfort; and thea, if the said Directors refuse to budge from Port- land, let Mr. Mann be empowered to buy the steamer, or charter her at any price, for a rum down the coast to Norfolk. The corporate authorities of New York have resolved to eend out a special agent to bring, if possible, the Great Eastern to this port, via Long Island Sound, and Mr. Dudley Mann must look very ebarp or Norfolk will be entirely ignored. A Southern Commercial Railroad Convention, re- cently beld in Tennessee, appointed a former Se- cretary of the Navy—Mr. W. B. Preston, of Vie- ginia—as epecial ambassador to Fagland, to se- cure, if possible, the first trip of the big ehip te Norfolk; but still it is apparent that the proper Norfolk man for the crisis is Mr. Mann himself. This project of a Southern line of monster steam- ers to England is his project; it is his business te look atter it; and be should, therefore, go over at once to London, with all the necessary authority and with all the “accompanying documents” re- quired in view of the important mission eug- gested Now or never is the time for @ bold stroke for Norfolk. Where is Mr. Dudley Mann? At aa- other Southern Commercial Convention, in session at Knoxville, Tennessee, we understand. If ee, let him hurry up the convention to the work, and then let him hurry off to London without further delay. Should a preliminary trial trip of the Great Eastern of two or three days, including the trial of a stiff gale, prove her fully up to the calcula- tions ot the company, there can be no doubt that the plan of pleasure tickets for the “round trip” from Europe to America, and vice versa, can be made to pay a handsome profit at a moderate charge. In this view, should the ship visit this port on her first excursion, she would probably be filled with passengers forer European “round trip” at aday’s notice. But should she go te Norfolk, what a glorous opportunity would thus be offered for testing the practicability of the great monster Southern Atlantic ferry project of Mr. Mann! Yes, yes, Mr. Mann must hurry eff to London. —_—_—_ THE LATEST NEWS. Interesting from Washiagton. THE TREATY With NEW GRANADA—-MOVEMENTS OF TROOP8—TRRASURY DEPARTMANT—THE INDLAR DIPYICULTIEE—SENATOR PROM TRXAS, BTC, Wasumaros, August 13, 1867, General Herran and Secretary Cass bave closed their ta- formal conferences on the New Granadian treaty, and the result will be reduced to writing and the treaty conctuded: {y ts supposed, during the next week. The only points of difforence between the nogotlations were the transit duties and the postal arrangements. Gonoral Herran eubmitted his proposition om these points yesterday, bat if not se- ceptable to our government he agrees to subscribe te the views of General (nas. The whole negotiation has been conducted with the greatest good feeling on each side. Not an unkind word pamsed betwoon the parties. (General Cam is univerenlly popular with the diplomatic corps. They admire his open frankness, and have every confidence in his honesty and fairness. Orders have been issued for the recruits mow at Fort Leavenworth, to move on the 5th of September, for New Mexico, to reinforce the army in that quarter. Captain according to returns received up to agency. Ink pa du-tah and his band had beea given upto juste. ‘The Yaaktons are anxious to make a treaty. Great credit is due Little Crow, am infuontial Chief, fer the successful result of the enterprise. ‘There was no Cabinet meeting to.day. The Seoretartes called and paid thelr respects to Mr. Buchanan, who eaye that during his whole stay at Bedford he was sever case appreached om the subject of office. What a compliment to those with whom he was associated! How happy he must have felt! Bea. J. J. Beibels, our Minister ot Bragwels, had aa im torview with Postmaster Geners! Brown this morning, o@ the subject of our foreign mail system. Mr. 8. has tem. dered hia resignation. | Private advices from Texas say Col. James Reilly will ‘nosed Gen. Houston in the Senate. Ex-Governor Hen. dervon will be tendered the seat made vacant by General Ruek’s death. Charles Winter, Eaq., Consul at Turks Island, is at WU- lard’s, Hon. Josoph Miller, of Ohio, # at Brown's. THE GENERAL NEWHPAPER DERPAPOR. THR INDIAN DIPFIOULTINGB—TRET OF BREBON LOAD- ING RIFLES—MOVSMENTS OF TROOPS, RTO. ‘Wasniwcros, August 13, 1867. A letter recotved to day from the Saperintende st of In. dian affaire for the Northwestern superintendency of Minnesota, states that the Yanktons had driven all the soitiors from the neighborhood Kast of Big Sioux River, ‘and that # portion of them had expressed thomesives favorable to making ® treaty. The Saperintendent te ta- clined te believe that before all the troubles with the Slouz can be permanently settied, |t will be necessary to make new treaties with them, holding them by stipulations of a strong and binding eharacter to the observance of pance- fol relationa with the United States, and reaponstbie for al depredasions. Col, Beall, of the First Dragoons; Major Hill, Paymaster; Cape. Donocan, of the Moanted Rites, Capt Hoth, of the Tanth Infantry, apt. Brereton, of the Ordnance Depam- ment, and Lieut. Gibbon, of the Fourth Artiliery, oom. prige the board to assemble at Woet Point ‘on the 1Tyy