The New York Herald Newspaper, August 15, 1857, Page 4

4 NEW YORK HERALD. —_— JAMES GORDON BENNETT, EDSFOR AND PROPRIETOR. ¥ CORRESPONDENCE, containing ++No. 225 AMUSEMENTS THIS EVENING. NIBLO'S GABDER, sroadway—Ticet Rora—L’ Auuss BOWBEY THEATER Bowery—Miurnmiuo—Born 10 Goon Lucx—Mienam Eeie—Ovt rox 4 Houiar, . BUBTON'S NEW THEATRES, Broadway, opposite Bond— Baran ut Panw—Karr 0’Sars, WALLAOK’S THBATBE Broadwar—Carmo.i' (BaiLLslss -BaYLOCK, oO: THs Muncuant OF VENICE ius Geossoe Rrurse ov sis Rete, Breuiog-JEuuY 08 BMP: way Swireann oe ‘encuxD—Nax, ‘tus Goon FOR NOTHING. we—Man- VED _ ACADEMY OF MUSIC, Fourteenth st.—Grinp Cnona, , ad Ons Humpeep axD TWENTY-FIVE PERFORMERS— and Evening. BARNUM’S AMERICAN MUSEUM, Broadway—Cumosi- (Gams, U:ss01. vive Vinwes, Faars or Mago, £0. CHRISTY & WOOD'S MINSTRELS, 444 Broadway Masquanans Bali—Neexo Minpreaisny, do. BUCKLEY'S NEW HALL. 68% Broadway—Ermoriux Bones amp Boxtesquas—Down iN ALABAMA. MECHANIC?’ HALL, 473 Brosdway—Negeo Marcos, (@0.—Escarep Jananar—By Buvanr’s Munsrams. CHINESE BUILDINGS 436 uroedwav- Exrnsonpinany . &c.—Br tus Oxitpren oF Tae 8ox—Aflernoon ant ing. New York, Saturday, August 15, 1857. Mails for EK: TSE NEW YORK HERALD—EDITION FOR EUROPE. ‘The Collis maii steamrhip Baltic, Capt. Comstock, will beave this port to-day, at noon, for Liverpool. ‘The European mails will close inthis qity at half-pastten ©’clock this morning. ‘The European edition of the Hxratp, printed in French ‘and English, will be pubiished at ten o’olock in the morn- 2g. Single copies, in wrappers, six cents. Subscriptions and advertisements for any edition of the New Yorx Hana will be received at the following places fm Europe:— 5 Co., 61 William janet oan meee F tie nh a. Do. Bourse. . de. street. ALiverroor—R. Stuart, 10 Frchange street, East. Haves—aAm. & European press Uo., 21 Rue Cornetile. ‘The contents of the European edition of the Hamatp will @ombine the news received by mail and telegraph at this (@fice during the previous week, and up to the hour of be nee The News. Advices from Washington state that the govern- ment is opposed to the treaty eaid to have been lately entered into between Costa Rica and Nicaragua, by which part of the territory of the latter is acquired by the former, and that Mr. Carey Jones had special instructions to present the views of this government on that subject. The letter of the Secretary of War, on transmitting the eword voted to General Wool by Congress, is given elsewhere. Hon. Frederick P. Stanton, Secretary of State of Kansas, has been tendered the appointment of Su- perintendent of Indian Affairs—the appoimtment, however, not to take effect until the meeting of General Lane is said to have announced in a re. cent speech that there was already an organization of eleven thousand men in Kansas to protect the polls at the October election, and the number would be increased to twenty-five thousand. Notice has | been given by the Sheriff of Douglas county of his intention to collect the taxes. Satisfactory accounts have been received of all the Wagon Road expeditions except Col. Nobles’. The troops and civil officers for Utah will reach there about the first of November. Elsewhere we give a full account of the late Indian difficulties in | Minnesota. ‘The Hon. H. C. Murphy, United States Minister to the Hague, is expected to leave to-day in the steam- ship Baltic, on his mission. Colonel Graham, of the 70th Regiment, intends to fire a salute fr@m Red Hook in honor of the evertt. The Hon. John P, Kennedy, Secretary of the Navy under President Fillmore, is also a passenger by the Baltic. We elsewhere give interesting correspondence from St. Johns, N. F., and Queenstown, Ireland, to- gether with extracts on the subject of the great sub- marine telegraph cable, now most probably in pro- cess of being laid across the Atlantic. The share- holders of the company entertained the officers of the Niagara with a dinner at Liverpool on the 20th alt. A number of invited guests were also present. The Board of Health held a meeting yesterday, but ‘there being no business before the Board, they ad” journed. The Brooklyn Board of Health also met, but there was no business of importance transacted. A motion for a certiorari in the Street Commis. sioner case was heard ye@rday in the Supreme Court, before Judge Davies. The Judge decided that an order should issue to Judge Ingraham requiring him to send the writ of habeas corpus to inquire into ‘the detention of Charles Devlin, and the proceedings ‘thereon, &c., into the Bupreme Court for review, and farther adjudication if necessary. A motion ‘was heard before Judge Poabody for an injunction to restrain the Corporation, Mr. Devlin, and others from interfering with the books, &c.,of the Street Commissioner's office. The property clerk of the Metropolitan Police Commission has issued instructions to the police clerks and inspectors of the various precincts for the where, together with some facts regarding the po lice telegraph, and Gen. Tallmadge’s opinion as to the efficiency of the Metropolitan police. Acting Mayor Clancy, yesterday, at the request of Mr. Busteed, consented to the calling of an extra session of the Common Council, to be held on Thurs day and Friday evenings of next week, for the pur- pose of taking some steps for the payment of Mr. ‘Lowber's jadgment of $196,000 against the city. We give some additional news from St. Domingo this morning, embracing an account of the revolu- tion in Cibao, which threatens to divide the republic of Dominica into Northern and Soathern sections. ‘The manifesto of the inhabitants of Cibao, setting forth the causes of the revolution, are given else- where. We have news from Turks Islands dated on the Ist of August. B. E. Smith was acting as Consul of the United States during Mr. Winter's absence, 54,838 bushels of salt had been shipped from Grand Tark, Jeaving nearly one million of bushels. Price ten cents. We have files from British Guiana dated at Georgetown on 18th of July. There is no news of importance. Several gold nuggets from the Yurnari diggings were exhibited in Georgetown. Lieutenant Hood, of the Second Cavalry, with seventeen men, was enticed into an ambush on the ‘20th July by « band of forty-five Lipan and Caman- che Indians. The Indians had nine men killed ana ‘ten wounded. Lieut. Hood and three of his men were wounded. One trooper wes killed and another is miaging. The watering places come im for a share of our space this morning, and we socordingly place before our readers correspondence from New Bed ford, Bands Point, Lake Mohegan, Lebanon, Nag’s Head, &c., all of which are interesting and deacrip- tive. ‘The ales of cotton yesterday embraced abou! 600 bales. p THe market was firmer, and closed at avout 50. per Ib. france. We quote middling uplands at 16)¢0., and mid- Oling New Orienns ai 1630. Flour was without change $f moment, WIIG enice Were Wow fair extent, Whom wag NEW YORK HERALD, SATURDAY, AUGUST 15, 1867. love beoyent and active; the ales were confined to Gouthern red ef $1 70.081 78 for prime. ead good to Prime white do. at $1 61081 66. Corn continued in good Gomand, with enles of Wsstern mixed a: 660.0960. There ‘was @ epeculative movement in prime port, with tales of 1000 bbis., which opened at 62), advanced to $2 60, and cloned at 62) 75, and was held to 091, without buyers; and 600 « 600 bbis mess sold at $24 70082475. The sales of sugars embraced about 700 hbds. apd 100 Porto Rico, ef rates given tn another colump; for reBring goods the market was fally %c per Ib below the highest potat of last week, while prime and choice goods were ouly a trifle lower. The public eale of Rio coffee to-day comprired about 7,743 begs, at 10K0. a 12%c , average 11-17c. Thozgh the prices were some- what under previous private sales, yet the sale proved much better than bad been expected. There wis aloo about 600 begs co” Rio wold to the trade at 11i¢o. « 113g. Freights were stil! inactive and engagements mo derate, without change of moment. The -Old and New Party Orgarizations— Power of the Conservative Elcment, It is evident to every calm observer of the ocean of politics that new tides are already set- ting in amid its waters, and thet both principles and men are tending toward other directions than have marked their past history. The late Preeidential campaign ewept away the lest of the party landmarks that formed the old divisions into democrutic and whig organiza- tions, and the present incumbents were carried into power by the direct and indirect efforts of many who had opposed their policy and disap- proved their acts for a long serics of years. The whig party preceded by a short time only its ancient opponent’s dissolation. All the old issues are dead; the fivancial policy of the country ie settled; its course in domestic affairs is establish- ed upon the non-intervention principle, so far as regards internal improvements, prutection to clese industry and the like; and in ite foreign policy there are no issues, or only such of minor importance, to call for @ conflict of opinion in the public mind But the necessity of ali political life is action, for repose is retro- cession, and in obedience to the natural law of their existence the extremists are the first to move. Thus we eee a parity of movement among the ultraists at the North and at the South, in the attempt to form new political organizations Here we have the emancipationists mounting their hobby of the abolition of slavery, and issu- ing a call for a national convention to take into consideration the means of attaining their aims. There we have an attempted movement against Mr. Buchanan and the party now in power, for the purpose of furthering the views of Jeff. Da- vis and a few other ambitious and disappointed leaders. It ie a curious fact in the poiitical phi- losophy of the times that each of these extreme parties is acting upon precisely the same princi- ples. Abandoning the true theory and law of self-government, that communities posseasing that right cannot interfere with the domestic ac- tion of each other, the governing principle with both is an interference in matters entirely out- side of and beyond their respective jurisdiction. The political life of the emancipationists is made to depend upon a question not affecting themselves, but others, who have as much the right of self- government as they have. In the same manner the Southern ultraists desire to force their social theories upon other communities, whether those communities are willing to self-impose them or not. The natural result of this extreme tendency North and South will be to unite all the stableand conservative elements of the country in oppoai- tion to their wild vagaries and crude theories. Aswe advance in population and wealth, these elements increase in number, weight and power: Taking as a basis the tables of the last census, we may estimate that the seven millions of males over fifteen years of age now contained in our population, may be classed aproximately as fol- lows :—Agriculturists, not including laborers, three anda quarter millions ; merchants, manu- facturers and the liberal professions, one million and a quarter ; mechanics and skilled laborers, one million and a quarter, and common laborers the same number. The agriculturists are all landholders, and are from proclivity and interest essentially opposed to great social or political changes. They are slow to act, and are only brought into active party movements when some great national necessity exists for political change. Then they sweep away the corrupt political parties that have degenerated through a long retention of power. Commerce is intimately connected with agriculture, and now that questions of banking and tariffs have ceased to divide the mercantile classes, the merchants, as a class, must be ranked with the conservative interesta. The other clas- sifications we have enumerated may be divided between those who are conservative and those who seek progress through change, or advance- ment through political agitation. In these sta. tistics it will be seen how greatly the elements of a new conservative party preponderate over those available to the vtra agitationists. If we were to go into an analysis of the conservative elements that lave grown up throughout the whole country by the increase of material pros- perity and individual wealth, the proportion would be even greater than that which we have shown to exist in the elements of our pepulation, But there is no peed of doing this As we have said at first, whoever will calmly observe the changes in political thought within the circle of his immediate acquaintance, cannot fail to no- tice the new currents that are beginning to set in the tides of popular opinion. But there is in the moral world another change that will not be without its effect upon those parties in this coun- try that wish to make extraneous social in- terference the groundwork of their party or- ganization. The practical mind of England is beginning to awaken to the dangers involved in the interference of legislation with social organi- zation in mam. This feeling is exhibited there in the new policy that is beginning to be developed in regard to the labor of her West India posses- sions, and it is likely to receive an impetus from the perils that a like interference has brought to her Indian empire. The commanication of sen- timent and thought between nations pomeming a common language and a common literature is now so rapid and perfect that each must insensi- bly influence the other; and where nations are linked by such vast ties of interest as exist be- tween our own country and Great Britain, they must reciprocally contribute a political impulse. It is evident, therefore, that though the ex- tremiste of the North and the South are begin- ning to organise their forces, neither of them can ever carry the great masa of the people with them. They will each make a great bluster and noise; but that is in their nature, and it is all they can do. Their own action will silently bind the conservative interests against them, which will act when the time shall come, on the great principle that the perfect right of sclf-govern- ment, such as we enjoy,és as incompatible with an interference in the domestic affairs of other States as it is with the admission of such inter- ference in thove gf our own, ‘The Mass Mecting ot Tammany—Usurpations 7 of the Legtelasure. It hes rarely happened in our history that the citizens of New York have been enabled to take eo decided a etep towards the regulation of their political eyetem as that of which the meeting on Tharscay night was the incipient symptom. The question which brought the crowd together that evening was not eo much a party political, os an abstract institutional question. It was in few words this: Where shall the limits of State eovereignty over the chartered bodies within the State determine, how far shall municipal liberty extend, and wherein shall it consist? The late Legislature of this State, resolving these questiong to suit its own party aims, de- cided that the reignty of the State govern- ment was paramount and unlimited, that munici- palitics enjoyed no rights which the State could tot take away without their congent, and that municips! liberty was a fiction akin to that po- litical liberty which the French enjoy under the present imperial régime. Acting upon these prin- ciples, that Legislature pageed a series of acts curtailing the privileges of the city and people of New York; disposiog of the patronage naturally belonging to them; appropriating their money without their consent; superintending and dir-cting works of public utility to be built within their limite and with their funds; Cepriving them of their normal control over their business as a seaport; and generally contribut- ing, wa far as it could, to diefranchise and stulti- fy them in the eyes of the country at large. It was well known, atthe time these acte were possed—and even their best friends did not at- tempt to deny it—that the prime motive of the acts was partly revenge for the past and partly concupiecence for the future. The intensely re publican Legislature was delighted to have it in ite power to achieve, by one blow, the humilia- tion of a city strongly democratic in feeling, and, at the same time, to obtain control of money and patronage that could be turned to excellent ac- count at the elections. It was esteemed a first rate joke among the republicans at Albany that henceforth the money raised from the democrats of New York city to build a City Hall, lay out a Central Park, and pay an army of policemen, would be used to further the republican cause at elections, to secure doubtful rural constituencies, and even to throw doubt on the issues in New York. The acts were passed. Gov. King, belieing the hopes that were entertained of his indepen- dence, did not withhold its approval; they be- came laws. The municipal authorities of this ci- ty, conscious of the responsibility which devolved upon them, refused to recognise their validity un- til they had been tested in a constitutional manner, An appeal was made to the courts. Greatly to the supprise of every right thinking man, the Supreme Court, and the Court of Ap- peals took the side of the new laws, and the Common Council of the city were compelled te succumb; and for the first time in the history of our State the spectacle of a partially disfranchised city was witnessed in this metropolis, It is not our purpose here to draw attention to the miserable misuse which the republicans have made of their ill gotten power; to show, how, while the Quarantine act is null and void, the Port Wardens’ act unconstitutional, the City Hall and Central Park acts for the present inoperative, and the Excise act notoriously defective, the most important lew of all, the Metropolitan Police act, has handed this city over bodily into the hands ef rowdies, thieves, burglars, and assassins, How the simplest processes in the administration of justice seem, under this new fangled system, to be clogged with insurmountable difficulty; and how, in the place of helping us, the new Police Commissioners have exhibited, since their inau- guration, a spectacle of puerile folly of which decent collegians would be overwhelmingly ashamed. With these practical points of the new system we do not design at present to interfere. Our concern is with the general principle involved in all the laws we have mentioned, namely, the principle that the Legislature can, when it pleases (that ie to say when it is stirred by po- litical prejudice) deprive a city or county of ita recognized political and municipal rights, and confer these rights upon creatures of its own. 7 The black republicans of this State hold—and they have given practical evidence of the since- rity of their faith—that the Legislature may and can disfranchise this or any other city, county, village or municipality of any kind, whenso- ever such city, county, &c., shall presume to hold contrary political views to the majority of the people of the State. On the other band, the democracy hold that the State government—like the federal govern- ment—is a machine appointed to fulfil certain specific purposes, and that it has no more right to confiscate the privileges of cities than the pro- perty of individuals: And the democracy be- lieve that ehould the contrary doctrine to this prevail, there would be no safety for any of the free institutions of the country. This is the issue on which the people of this State have to vote this fall. An entire new Le- gislature will be chosen in November, and accord- ing to the complexion of that Legislature will the doctrine for or against State usurpation prevail. Two of the conventions are called already, and the work ef the canvass has actively commenced; it only now remains to direct the public mind to the true issue involved. If this be clearly set forth, and the people decide that State usurpa- tion is all right, then there will be an end of con- tention. A Net ror tHe Skcessiontrs.—Those extra- ordinary assemblages known as Southern Com- mercial Conventions have heretofore been pret- ty strongly seasoned with secessionism; but the present one in session at Knoxville, Tennessee, appears to have taken @ different tack. It urges the policy of calling upon Uncle Sam to estab- lish several lines of Southern Atlantic steamers. Mr, Calhoun was right. There is something’ in “the cohesive power of the public plunder,” and we daresay that the Union will last,at all events, until the twenty millions surplus in the treasury ehall have been exhausted. Mr. Cobb holde the balance of power against the fire-eaters. Deap—Tur Coroner's Vernict—The Rich- mond (Va.) Whig, sitting in the capacity of Coro- ner over the body of the late terrible “Sam,” pronounces him dead and gone. Our Richmond philosopher also recommends the disbanding of the American party, and the fusion of all the anti-democratic elements of the whole country into @ new homogeneous party, as whigs, consti- tatfonaliste or Americans. Thus opens another epoch in the history of our party politica, Ground will be fairly broken with the meeting of Congress. The great political revolution com- menced with the election of 1852 must run ite gown Tax Resvtt or tax Goopwoop Race.—The remarks made by us a few days since upon the insue of the Goodwood race, at which the Ameri- can horses Pryor and Prioreas made their début on the English turf, seem to be verified, in the main, by fuller accounts from the English jour- nals, published yesterday. The appearance of Pryor is said to have betrayed great want of con- dition. Mr. Ten Broeck is reported to have aid that the horse was 60 “badly off” before leaving his training quarters at Stockbridge, that he should not have started him but for the improve- mént he daily manifested after his arrival at Goodwood on the Saturday previous to the race. This would seem to be borne out by the state- ment in an English paper that Pryor lathered considerably before the time of starting. Yet the American horses are represented as having “run remarkably strong throughout the race.” The condition of Prioress, however, is said to have reflected great credit on the ekill of her trainer, and it was the general opinien of the jockeys who rodqjn the race, that it was quite in her power to have won, although she lost a great deal of ground at ali the turns. Something is said about the way in which she was ridden, and that Gilpatrick, her jockey, was dismiesed the morning after the race by Mr. Ten Broock. The time was bad for an Eoglish course, and there- fore wretched for avy track here—the distance, a single dash of two and a half miles, being run in five minutes and sixteen seconds, We there- fore think ourselves justified in the conclusion that it was not intended that the horses should win the Goodwood, but that they have been re- served for some future race wherein more money can be made. It is urged for the owner of the horses that he went to England not asa national champion, but as a private epeculator, having to pocket ali the losees, if any there should be, arising from his expedition; and that, therefore, if the result of the Goodwood was not likely ‘to be sufficiently valuable to answer his purpose, he was justified in restraining the speed of his horses until a more favorable opportunity. Again, that he (Mr. Ten Broeck) usually bets his money on the advent of a race, and that the rumor afew days prior to the Goodwood that Pryor had made the distance in four minutes, might have prevented him from betting his money to advantage, if at all. We read, however, that he made a pretty heavy book (six thousand dollars) on the day of the race. The above being the case for Mr. Ten Broeck, let us see what is urged on the other side. When Mr. Ten Broeck sailed for Europe several months ago, and at various times since, ® portion of the press had teemed with articles in relation to the horses, until public at- tention was directed to the contest as a matter of general interest. An angry controversy arose, first as to the age of Pryor; then there was a heated dscussion between the English and American sporting papers as to the rolative merits of the horses on both sides of the Atlantic. All these things tended to whet the public ap- petite and stimulate the national pride. Wagers were laid by persons who never before had bet- ted a cent upon a horse race of any kind. Ame- ricans abroad took the matter more quietly. They said that the English turf wasa nest of swindlers, pointing to the Running Rein contro- versy, the Fanny Jenks’, conspiracy and the Palm- er case—worse than all—for proof. Although the Goodwood race is presumed to be the fairest of any, yet it was said that a man not in the ring, |- who wagered on any race in England was a fit subject for the insane asylum. As a general rule, the gambler isa cheat. These things being well understood abroad, the chief, in fact the only, excitement about this race was in the United States, and many innocent persons have bled freely by its result. We make no charges against any one; but we do say that such events as the Goodwood race do not tend to elevate the turf or to promote what is supposed to be its principal object—the im- provement of the breed of horees. When a num- ber of gentlemen came together to try the speed of their horses and exchange information as to the proper method of training and breeding which was the origin of all racing—it was a good, a useful and a pleasant thing. Not so when the turf is degraded into a betting ring—the com- panion of the roulette, card and faro table, and used for the purpose of plucking fools with more money than brains. Then it deserves the reprobation of every bonest man, and will always get its deserts, We are told by persons who profess to know, that Mr. Ten Broeck has not yet put forth his strength, and that the test will be when a match is made between Pryor or Lecompte and some se- lect English horse—probably the winner of the Goodwood of last year. Then we shall see that the late race was a humbug, and not intended as 4 national humbug. This makes out the case, We have no doubt that the majority of horse races are humbugs; but we hope that some day or other the ewindlers who now infest the stable and the training ground may be swept from them. Then, and then only, will the turf be of the slightest real benefit to any one. At present it is too often a Frencu Orrstons or Tae Unrten States.— We find in the Constitutionnel and the Patrie long articles about the United States, pitching into our institutions, ridiculing our people, showing up our follies, and generally making a good deal of fun at our expense. Mingled with the fan, is a good dea] of serious irony at republics in gene- ral, and the United States in particular. This is the Emperor’s way of consoling himself for his late defeat at Paris. Pray let the French perse- vere; we can stand a good deal of the same kind, if they can. Ovr Drrvomatic Arrorstuests—A Resrrre To Mr. Mason axp Orners.—It is given out from Washington that all further changes in the diplomatic service have been postponed till the meeting of Congresa. Should this report prove to be true it will be good news to Mr. Mason at Paris, and others of Mr. Pierce’s appaintees, who desire the pleasure and the profits of another | year or #0 of official life in Europe. This expe- dient of postponing the business of filling euch important missions as those to Paris, London, Madrid, St. Petersburg and Constantinople till December, may also prove to be a good thing; for it will relieve the President of a particularly troublesome swarm of office seekers during the summer months, and give him an opportunity of sounding the Sachems of the new Congress to some purpose. A single mission abroad some- times does wonders in behalf of an important administration measure pending before the House or the Senate. ‘Then, again, our diplomats at the posts indi- cated, by this postponement of their cdees, will be allowed a liberal margin of time for the con- sideration of the great question—“Shall I grace- fully resign, or wait to be tuned adrift?” It is ut- terly gut of the question that they gan expgyt f9 eppear cruel to Mr. Pierce’s diplomats, he can Probably do nothing better than to give them @ few months more of grace, with the distinct un- iterate the denial with the usual abuse of the Heratp. There being, however,eome common sense in the New York Stock Exchange, a com- mittee was appointed to investigate the charge. That committee cemmunicated with the Presi- dent and Directors of the company, but were met in so ehuffing a manner, and it was so obvious that those officials did not desire to afford them the information they sought, that the committee abandoned that channel of inquiry and sought to ascertain the truth at the hands of the New York Trust Company, which has lately consented to act as register of the stock. We publish in another column the correspondence between the Company and the Trust Company, which was laid before the Exchange Board yesterday morning. Meanwhile the President of the road, finding that neither the emphatic denial of the J'reasurer, nor the‘angry statements of the petty journals in the brokers’ interest could avail to conceal the truth, sought to forestall the action of the committee by publishing, in the New York Tribune of yesterday, a sort of general confession of his guilt. In that curious document the President confesses that, while the stockholders and the public were autho- ritatively informed in the last printed report of the company that the amount of stock issued was only ten millions, the amount actually outstand- ing was $10,317,750; in other words, that there had been an over-issue, unauthorized by the stockholders and unknown to the public, of $317,750 worth of stock; and consequently that the old stock was depreciated to that extent. With what looseness our railroad matters are managed, and what standard of principle or mo- rality governs the actions of those —_—— in charge, this uoblushing confession of a Presi- dent will enable the public to judge. But even this is not the truth. From the let- ter signed John A. Stewart, of the United States Trust Company, and published in another column, it appears that the amount of outstand- ing stock of the Michigan Southern and Northern Indiana Company is not $317,750, but This statement comes from the company which is the register of the stock, and may therefore be relied upon—so far as that company knows. This is not the place to entar upon an elabo- rate discussion of the matters of detail which have arisen incidentally to the main question. We will only add here that the power thus exercised, and which was exercised in a slightly different form, but with the same practical re- sult to the community, by the late Robert Schuyler, is a power which no officer of a company, or board of directors or finance committee ought to be allowed to exercise. Every new share of stock that is issued di- minishes, pro tanto, the stock already issued ; and thus each issue actually takes money out of the pockets of the old shareholders. To do this, without their consent, and without the knowledge of the public, is a fraud of a very serious charac- ter, and one which the laws should be adapted to punish. We are too well accustomed to the prevarica- tions and bluster of Wall street to dwell at any length upon the epirit in which our disclosure was at first met. The police say that rogues usually bluster when they are arrested. But we are sorry, very sorry that the President and Di- rectors of the Michigan Southern Railroad did not persevere in their intention of suing us for libel, as it was announced they were going to do. A libel suit against the Heraip by such a com- pany would shed a flood of light upon the rail- road system as carried eut of late years; it would do a world of good. We must say that the greatest disappointment the public have met with in all this affair has arisen from the failure of the company to prosecute us as they promised. Tne Waterina PLaces—“Sarster News- paren Corresronpenys.”’—Under this eupho- nious caption will be found an article from the Saratoga Daily News, pitching into a class of loafing vagabonds who sponge upon the hotel keepers at the watering places, under the pretence that they are connected with a leading New York paper. We have ourselves frequently taken occasion to caution the persons thus vic- timized against the tricks of these persona. Not- withstanding the warnings we have given them, it appears that the hotel keepers are so simple as to continue to trust to their representations. They prefer, we suppose, running the chances of being continually deceived to miesing an oppor- tunity of obtaining a favorable notice of their establishments. They make @ great mistake in this, for the suspicion that a correspondent bas ® motive for puffing up a particular house is a sufficient reason for us to exclude his communi- cation from our columns. When a hotel keeper finds # fellow of this sort boasting of a connec- tion with the Herat, with a view to render it an equivalent for his board bill, he may feel as- ured that he is a swindler. Those whom we em- ploy are placed above the necessity of such mean- nesses, and even if they were disposed to steop to them they would be careful how they incurred the penalty attaching to them. Whilst on this subject we may add that although our regular employée, when travelling, cannot always avoid having civilities forced upon them, they in no way farther the interests of those who offer them. Fair play and no favor are all that they require, and any attempt to purchase their good will is an insult to their integrity, which is sure to be re- sented. Hor Work ror tux Dog Days.—The Rich- mond Enquirer is now occupied with the labors of a regular red-hot war against its democratic secession neighbor, The South, and that constant patriarch of the secession school, the Charleston Mercury. We call for an armistice till the first frost. Then we shall know more of the exact drift of the nigger question in Kansas, and the progpects of Governor Walker. Meantime let our belligerent Southern cotemporaries try to keep cool, avoid all injurious excitements, and Teed the gountry papers, vinced that this case “now assumes @ prominence scarcely exceeded by anything in the annals ef crime.” This is proof positive that after all our Latest rrom Gen. Arcaison.—We find the following letter in the Charleston Mercury of the 11th instant. Read, read:— Con. A. Baxes:—Deax i i ‘J u i E i f H i i i Shae i i i i: [ i aT sce Re E. i E if ies i g i a8 abe i i 24 fi H as i EE i il i i ‘ i : j Z. 5 z F : Ft if act i if eeegi g EE All i, g i E HA iy *ESs i [ a5 : | i i HH iii i i i i 35 E s i E eer, of the free and all the or 6fforts of the officers of the government. Y¢ truly, D. R. ATOHISON. He does not altogether despair; but it is ewi- dent that the game is lost. Who will say new that Kansas is to be a slave State, when even “am earthquake” will not arouse the South ? —_—_—_ THE LATEST NEWS. From Washington. THX SWORD PRESENTED TO GENERAL WOOL. Wasmmarom, August 14, 1867, Several of the black republican journals have attempted to distort the language used by Secretary Floyd in the letter he addressed to General Wool on the occasion of In the matter of the sword, the extracts of the soem to distort the Gover. ‘Toascertain who has exhibited « “littloness of spirit,” {t ts only necessary to refer to the record. I am permitted (0 copy the objectionable letter entire:— 'D, Secretary of War. Tam authorized to eay that no extracts of the eorres- Pondence have gone forth from the War Department. which were promptly furnished» and which, {t is presumed, satisfied him that Governor Fioyd had done only his duty and bad censured noone. Copies of Governor Floyd’s letter, and of Gen. Wool’s re- ply, had been furnished the Troy papers, but net by the department nor by {ts connivance. For this Goversor ‘HE GENERAL NEWSPAPER DERPATCE. COSTA RICA AND NICARAGUA—THE WAGON ROAD EXPEDITIONS, BTC. Wastumcton, Angust 14, 1867. If tt be true, as stated, that Costa Rica has disposed ef the Nicaragua Transit route, and has acquired part of the views of the administration on that subject as adverse to wuoh a coarse of policy. Until the meting of Congrems no diplomatic appotna- ments will be made excepting euch as may ve demanded by tho public exigency, aa it 1¢ desired that successors to the present incumbents shall not go abroad until their ap- potntments shall have been confirmed by the Senate. General Denver, Commissionor of Indian Affairs, wil) shortly repair to Nebraska for the purpose of maxing treaties with the Ponca asd Pawnee Indians, 4 letter is now on the way to Hon. Frederick P. Santen, Secretary of State of Kansas, tendering him the appotat- ment of Superintendent of Indian Affairs, in piace of Gov. Cumming, but the sppointment not to take effect until the meeting of Dongress. ‘The troops and civil ofcers for Utah are not 63 pected te reach that Territory until about the lst of November, Satisfactory acc unts have been received of ali the wa- fou road expeditions, excepting that of Col. Noble, which hae disappointed the expectations of the goverameat Surgeon Robert T. Barry, of the navy, a native of Pema- tylvania, died here this afteaocen. Judge Cane hes published an opinion stating that the pay ‘ment of taxes is easential to the preliminary right of vot- tog. ‘The Sheriff of Dougias county has given notice of his Intention to collect the taxes. Rumor says that Genorals Lane and Robinson and Mesars. Phillips, Conway and Blood and others, hayé been indicted by the Grand Jury of Lecompton. ‘would be increased to twenty five thousand. NL Whe Southern Convention. i trade and direct taxation; against the South goods from States not upholding the Fugitive Slave law; Against any discrimination of the government in favor foreign mail lines from Northern ports; in favor of the exemption of one slave to each slaveholder from seizare for debt; in favor of erecting Arsona into « Territory; tm favor of recovering certain lands lost by recent treaty with Mexico; also reported that the ime had not yet ar- rived for the calling ¢f s Convention in reference to the African slave trade. Resolutions in favor of Montgomery as the next piace of meeting for the Convention, and in favor of the with. drawal of the squadron from the African coast, were adopted. ee Death of Hon. Franklin Dexter. Bowron, Angust 14, 1867. ‘The Hon, Franklin Dexter, of Boston, and one of the ‘moat prominent oitizena of Massachusetts, died thie morn. ing at his summer reaidence at Beverly. The Southern Mail. DESTRRATE INDIAN FIGHT—DROUGHT IX TEXAS, BPO. Wasuveron, August 16, 1857. ) New Orleans papers of the 8th inst. are te hand. Lieut. Hood, of the Becond Cavairy, with seventess men, bed a desperate encounter with a band of forty-five Lipans and Camanches on the 20th of July at the head of Devil river, The fight wae « hand-to-hand one. Nine Indiana were killed and ton wounded, Lieut, Hood had one killed and one missing, and ho and three of hie men wore wounded, The Indians emiioed him into an ambash by @ fing of troce. The death of Gongrn! Raak produced § profound conga: