The New York Herald Newspaper, August 27, 1857, Page 4

4 NEW YORK HERALD. —__—_ JAMES GORDON BENNETT, BDITOR 481 PROPRIETOR, ee QPFIO8 H.W. CORNER OF FULTON AND NASSAU BTe” peat iano ities caeh om b FRE DAILY HERALD, too conte THE FamiLY W2naLb, wory or 63 aren on bas 4 weeaty GrRALD, wny @t tz conte por q anwar, ‘edition, ‘annum, to SP ,or1 © Seat Brita, or B00 omy part of the Continent, Bosh | VOLeRTANT CORRESPONDENOR, etatntag tmportant waens, solicnted from the be lie BS aie "tet hele tearneaer ts f Beovestsp to Baar au ax Packsces 80 NOTICE taken of anonymous correspondence. We do not " UDVERT Sem ATS rmewed every day; in ved in the Weenty Bera, Famity and m the fornia and Beers . pA, PRINTING axocaed with neatness, cheapness and dee- copy. UT per anman. fal four conn por AMUSEMENTS THIS EVENING. HIBLOS GARDER, Srostwav—Warvis ox tus Nicur Ow. —PRomen aps Concent -Tus OonTmananni BOWBBY THBATES Sowery—Pavi Jonas —Honsesuon Bavinsor—Suvcr's Reverce EW THEATKE, Broadway, opposite Bond— Bu 8 Famiiy—a Doarity NEW OLYMPIC THEATRE, Broadwav—Lorteay Ticker —BSrmirt or Tum Fountain —Sw its Cortace, WBARNUMS AMERICAN MUXEUM, Broadway—The Bocus Buwve Fee A NOLTING Vinws_-Opmicereoma, £2. MECHANICS HALL, 473 Broads Nene MBLoptne, ae. cena Sronte-BY Bevant's MINSTREL vé — = Sew York, Thursday, August 27, 1857. The News. The steamship America has arrived at Halifax with Liverpoo! advices to 3 o'clock on the afvernoon ‘of the 15th inst. The news is important. The Atisntic telegraph has temporarily failed. On the morning of the 11th inst., when thiee huudred and thirty-five miles west of the Irish coast, and while the Niagara was procceding at the rate of four miles an hour, the brakes were applied ia order to lessen the speed of paying out, and the cable parted some distance from the stern of the ship. One of the steamers, with Mr. Field on board, was immediately despatched to Portsmouth with intelli- gence of the disaster. Mr. Field repaired to London to confer wiia the directors of the company, but at the time of the sailing ot the America it had not been determined what course would be pursued. The telegraph squadron are to rendezvous at Ply- mouth. There still remained over two thousand miles of cabie— sufficient to anite the two continents —and the experiments made fully satisfied all who took part in them of the practicability of the enter- prise. The India mail bad reached England with impor- tant intelligence. Up to the 27th of June Delhi had not fallen. Several battles had been fought, and the rebels each time defeated wita great slaughter. Seve- rai adoitiouel mutinies had broken out among the | native troops, but they were not regarded with | alarm. Onthe whole, the news was regarded in | England as favorable. | There is nothing of importance from China. A rumor prevailed that the Emperor had abdicated. Accounts from Madrid state that the Spanish gov: | ernment had suspended all negotiations with the Mexican Minister. The financial and commercial intelligence is also important. The London money market was buoyant, | and consols are quoted at 91j—an advance. At Liv- erpooi the cotton market exhibited an advancing | tendency, while breadstuffs. owing to the prevalence | of heavy rains and reports of floods, had advanced, | fiour 64., and wheat 1S dpe yporision market | ‘was generally quiet. gar d@lined considera- | | ble. Freights had slightly advanced. ‘The financial panic in Wall street received an im- | petus yesterday by the failure of Jacob Little & Co., B. A. Benedict and E. F. Post, stock brokers and | speculators. The excitement was considerably aug- | mented by reports prejudicial to several of the city banks, but as yet they have not yielded to the pres- sure. The attachments against the Ohio Life and Trust Company, issued in the last two days, amount | to over a million dollars, The affairs of Mr. John | Thompscn, a Wall street broker, were brought bee fore the courts yesterday on an application for an order of arrest, on the ground of fraud in his recent | suspension. The order was granted, and bail fixed at $15,000. Subsequently the order was suspended. | A motion to vacate the order will be considered to day. | Gor. Robinson, of Kansas, has been acquitted of the charge of unlawfully assuming to act as a pub- lic officer. The free State organs have striven hard to martyrize Robinson in this busiress, but it proves ‘to be labor lost. The National Emancipation Convention, called to devise some equitable plan of negro emancipation on the principle of compensation to slaveholders, met at Cleveland, Ohio,on Tuesday. Nearly all the free States were represented, and the attendance was large. Among other schemes, it is proposed to de- vote the proceeds of the sales of public lands and whatever surplus revenue may accrue from customs to the redemption of the slaves. Our special despatch from Washington states that Gen. Boot and Gen. Jesup have decided that the Utah military expedition shall proceed to its destina- tion. Dr. Forney, of Pennsylvania, has accepted the post of Superintendent of Indian Affairs in Utah. This completes the sppointments for that | ‘Territory. The new Territorial officers will asser- | bie at Fort Laramie and accompany the army. Ithas | not been decided whether Gen. Harney will continue in command of the expedition, or Col. Johoson be detailed for that service. Capt. Higgins, of the schooner Harriet Hallock, | arrived yesterday from Para Ist instant, informs us | that it was reported in Maranham on the 30th ult, | that the British Consul at Pernambuco had been re cently assassinated. ‘The bids for the work on the new Grand Reservoir were opened at the office of the Engineer of the Croton Board yesterday noon. Messrs. Fairchild, | Coleman, Walker and Brown are said to be the suc- | cessful bidders. A table of the bids is given in an- | other column. The merchants had a meeting at the Exchange yesterday to express their sorrow at the untimely death of Mortimer Livingston. A series of resola- Cions were adopted expressing their high respect and affection tor the deceased and condoling with his | family. The merchants will attend his funeral, | which takes place today’ at 4 o'clock P. M. from | St. Thomas’ church, corner of Houston street and Broadway. The flags of the shipping in port will also be dispiayed at half mast from sunrise to sunset i no honor of the lamented deceased. We giveare | port of the proceedings of the meeting in another colamn. A most heartrending accident occurred sterday afternoon at Peekskill. It appears that a quiets named Thomas Sewall, a retired merchant of Balti- | more, in attempting to get into the cars at Peeks. | kill, whilat they wore in motion, fell upou the track, | and before the train could be stopped three cars had | passed over his body. Dr. Snowden, of Peekskill, | who was passing on the road near the depot, was | called in, but life wasextinct. Mr. Sewall was tra- velling for his health, having recently had an attack of palay, and was just recovering from its effects, His daughter and sister-in-law were in the cars at the time, and upon learning who the unfortunate man ‘was, wrong their hands and rent the air with their amentations Ap aged man named Price wae instantly killed yesterday afternoon, near Stroudsburg, by an ex press train. At a meeting of the Commissioners of F migration yesterday it was reported that the steamer City of Washington, on her recent arrival from Liverpool, bad lanaed elsewhere than at Castle Garden twen- ty five passengers. The penalty for this offence is 6 fine of twenty-five dollars for each passenger. The subject was reterred to a committee of the Board for Apvestigation. The number of emigrants arrived at (aia port during the year, op to 26th inst, is! NEW YORK HERALD, THURSDAY, AUGUST 27, 1857. 122,888—an increase of 34,803 compered with last year’s return to same date. The Board havea ba” lance of $63,297 on hand. ‘The Metropolitan Police Commissioners have em- powered a committee to procure « more eligible site for the offices of the Commission and the Superin- tendents, all to be in one building. No selection has yet been msde, though several papers have stated to the contrary. ‘The sales of cotton yesterday embraced abut 209 a 300 bales, at foll prices. We wore shown some handsome sumpies of now cotton from Louisiana yesterday, which ranked as middling fair, Fiour was dail, and for most de scriptions, about five cents per bbl. lower, New red Ten neasce wheat sold at $1 40 « $1 43, and some mixed South- ern at $145, and white Boulhern at $1 50a$170. Corn was in Nght supply end firmer, with a good Esstern de- wand, and with sales of Western mixed at 850. 8 890 Pork was rather easior, with sales of mens at $25 75 and prime at $2176. Bcgars were heavy for inferior and commen grades of refloing goods, while the stook of prime grocery goods was comparatively Nght and held with sterdinees. The sales embraced about 700 a 800 hhds Cuba muscovado, at prices given in ancther columa. Grain freigbts to Liverpool were rather better, and abovt 8,€00 bushels were evgaged, in bulk and bags, at 34. aod. “Bleeding Kansas” vs “Sieeding New York" —What Is our Duty? Onr incorrigible nigger sgitating philoeophers of the New York 7ribune persist in the delusion that Kapeas—“bleeding Kanses’’—is the great issue upon which our State election must be and | will be fonght, because, as they would have us believe, the success of the Seward party in New York is indispensable to the success of the free State cause in Kaneas. On the contrary, we take the position that, as neither our delegation to the House of Repreeentatives nor a member | of the Senate at Washington will be involved in our November canvass, ‘“‘bleeding Kanzas” be- comes an outside issue, avd that the repeal or | continuance by the next Legislature of the acts | of the last becomes the main question, which | brings “bleeding New York” into the fore- | ground. The local grievances, wrongs and sufferings of | the free State party in Kansas—the “bogus code”"—the quartering of troops upon Law- | rence to frighten and harrass the free State | men’’—~“the recent villanous apportionment of tbe Territorial Legislature so as to secure if possible a bogus successor to that bogus | body ”—the “appointment to the best local offices of ‘active border ruffian leaders’ "—the “new | legal prosecutions set on foot against free State men for old affairs of a year’s standing, while murders the most co!d blooded and robberies the most atrocious go everywhere in the Territory unpunished, except occasionally by Lynch law,” &c., &c., are serious complaints concerning the local administration of Kansas affairs, and would be excellent issues for our fall election, if we were living in Kansas, or if our fall election comprehended the choice by our people of a sin- gle government officer for Kansas, or a single of- ficer for the general government. But Kansas is a distant Territory; its local af- fairs are in the hands of its own people and its local authorities, “such as they are,” and their proceedings are subject to acceptance or rejec- tion by Congress. We have no voice in the elec- tion of the local authorities of Kansas, and our last accruing vacancies in the new Congress were provided for a year ago. We have nothing, therefore, to accomplish in making “ bleeding Kansas” the issue of our approaching State elec- tion, except a useless and worse than useless agi- tion of the business belonging to the people of ano- ther jurisdiction. But why make“‘bleeding Kansas” an issue in New York, when our 7'’ribune philoso- phers assure us that they “have not less confi- dence than the Hera.p that Kansas will become a free State *’’ Oh! but they “do not rely upon Bucbanan, nor upon Walker, nor upon the good | sense or discretion of the democratic party;” but they “believe that freedom will triumph in Kan- sas,’ from the belief “that republicanism will sustain iteelf in New York.’ In conclusion, the Tribune says, “If we imagined that Mr. Buchanan could gain the political control ot this State, our confidence in the immediate future of Kansas would be very much shaken.” Sorry for it; but this is begging and blinking the question. Mr. Buchanan has the example of poor Pierce before him, and knows that, should he carry out the border ruffian policy of fraudulently converting Kansas into a slave State, his administration, from the day of the consummation of that act, will be left without the support of a solitary Northern State, and that the country will become demoralized, if not disorganized, between two violent rectional parties. He knows, too, that under a fair administration of the KansasNe- braeke bill, Kansas must be admitted as a free State, and that in this solation of the question, | being in accordance with the organic law, the | whole country will acquiesce. We think, also, that inasmuch as the trick of smuggling Kansas | into the Union with an ez parte pro-slavery con- | stitution would utterly sweep away the Northern democracy, no fears need be entertained in New York that the Northern democratic members of | the new Congress will cut their own throats to We accordingly repudiate this whole schedule of atrocities charged against Mr. Buchanan, Gov. Walker and the bogus authorities and border | ruffians of “ bleeding Kaneas,”’ as outside issues, | | having no practical bearing upon our New York | | State election, limited as it is to the local affaire and offices of the State. But, on the other hand, | the sufferings of “ bleeding New York,” from the | Seward lobby ruffians at Albany, urgently de- mand the pruning knife. An increased State ex- penditure of over three millions. and an increased | city squandering of million and a half, are | tomething in the way of “ bleeding’ which ap- peals directly to the people of New York. Therefore it is that we believe the doings of the border ruffians in Kansas will be overslaugh- ed in our November election, by the direct home question of the Seward party and their spoils operations of last winter at Albany. Such epoile jobs as our Central Park Commissioners’ bill; our new city charter, which nobody asked for except the spoilemen concerned; our Excise law, of odiously discriminating pains and penalties; our Metropolitan Police act, with ite bloody acoom- paniments and legal shystering and bleeding; our Port Warden bill, of nine special Albany appointed pensioners upon our merchants; our City Hail Commissioners’ bill, with its fat pick- ings to another gang of bleeders, and such like is- fues, are things which cannot be covered up with the bogus laws and passing border ruffian incidents ‘away out yonder in Kansas. And the question of five or six millions more for the canals, when the last pull of nine millions was to finish them, will call for the more serions consideration of our taxpayers than the “movements of Bobby Walk- er.” Between “ bleeding Kansas” and “bleeding New York,” the people of this State, in Novem- ber, will not be humbugged by a mere “ good enough Morgan till after the election.” They have already had something too much of this. ‘The Fallure of the Atlantic Cable. The failure of the attempt to lay the Atlantic telegraph cable, which we announce in another column, will cause a feeling of heartfelt regret in every bosom. The liberal scale on which all the arrangements for the operation were made ; the careful study of and provision for every pos- sible contingency ; the reputation and character of the gentlemen who superintended the practieal labors ; the claes and fitness of the ships em. ployed ; the free co-operation of the governments of this country and England ; and, above all, the earnest hope that beat high in every breast, led to the trusting belief that the feat which would characterize the most active century the world bas ever known, would be successful at its first attempt. It is true that fears of such a result were entertained by many, but these fears were more the children of hope of a succesaful issue than of any reasoned deduction from existing facts, In view of the results of the experiments made on board of both ships previous to the beginning of the actual labor, and of the accident to the cable on the commencement of the paying out from on board the Niagara, these fears had largely diminished in this country and in Eng- Jand; and not only had the market vatue of the stock of the company risen greatly, but under- writers were found whe were willing to take the risk of insurance, We were well aware, from the letters of our correspondent on board the Niagara, that the of- ficera and men engaged in the expedition were | not sanguine of its success; but we also knew that this very feeling maée them more anxious to strain every nerve for its accomplishment, and | more solicitously watchful in guarding against every poerible disaster. To them, therefore, as a body, not a shadow of blawe will be attached by avy one. They have done all that men could do to perform ove of the greatest physical feats ever attempted by man. Even the accident itself, | which has delayed this great enterprise, was the result of too much zeal on the part of the engi- peer in charge of the work at the time the wire broke. Yet while every one will regret the preeent re- eult, there is no reason that the project should be abandoned. It is simply a mechanical failure; and such a failure in this me- chanical age will only stimulate to renewed effort. The very experience gained in the late experiment will be a powerful contributor to fu. ture success, for it amounts, in fact, toa demon- stration that the thing can be done. Public con- fidence in the ultimate laying of a cable across the Atlantic will now be far greater than ever it was before, and the world has been wakened to the idea that its achievement is a necessity. The company that has so boldly undertaken the taek, and the governments that have contributed to its performacce, will find a much greater eupport in public opinion than has hitherto been granted to them; and should they find it necessary to call for pecuniary assistance from capitalists in their renewed efforts tg accomplish the undertaking, there can be no doubt that they will readily find it. A thousand interests call to-day for a telegraph between Europe and America that had never dreamed of it before. The merchant has already begun to calculate upon the advices he would receive by it from his correspondents; the states- man bas already looked forward and longed for a daily report of the political move- ments on the other side of the ocean; the devotee of science is anticipating the possibility of anzouncing to his compeers every- where the result of his nightly scanning of the heavens; the shipowner, the underwriter, the sea- man, the emigrant—in a word, every class of s0- ciety is waiting the agency of the Atlantic tele- graph to tell them how it goes with their inter- ests, or their loved ones beyond the sea. From this state of things new efforts must and will pring until the broad ocean is spanned by the electric conductor—and success will come. The story of Bruce, as he lay hidden in a gar- ret, watching the attempt of a spider to fasten ita thread to a distant beam, is familiar to every one. It, too, epun its cable, and made every prepara- tion, but the effort failed. Nowise disheartened, again it eet to work, and again it failed; attempt followed attempt till six failures had been count- ed by the despairing hero, who wondered at the conetancy and courage exhibited by the insect. A eeventh cable was spun, a seventh effort fol- lowed, and the distant beam was reached, and then the structure of all ite great fabric was eaay. So it will be with the Atlantic cable, and we have no heejtation in uttering this our prophecy of its succeseful accomplishment. Imrroven Prosrects or ExGuaxp tN Ixpta.— The advices from India received yesterday by the arrival of the steamsbip America at Halifax, indicate success for the English troops, so far as the holding of their positions goes, but Delhi had not fallen into their hands, nor is any important victory announced on either side. We have a repetition of the advices that the rebels had made several desperate cortica, but had been repuleod with great slaughter, which certainly indicates | sppease the fire-cating salamanders of the South. | an active and determined spirit on their part. It was also reported that the city was fall of sick and wounded, and that the cholera prevailed there. Reinforcements sre stated to have be gun to reach the English camp. Madras and Bombay continued loyal, and the Puojaub was quiet. The insurgents bad been defeated at Sirza and Aurungabad, but the mutiny of the troops had extended to many places not previous- ly dieaffected. The import of this news is con- flicting, but it seems to have been considered in England to be favorable, and the consequence was a rice in that barometer of public opinion, the public funda. It ia well, however, to bear in mind that these advices come entirely through English sources, and, in fact, through the agents of the British East India Company; and past experience has thown that there are not always the most truth- ful reporters of passing evente, particularly when they militate against themselves, Besides this, the Indian prees is now muzzled, and this fact alone tends to give a want of confidence in reports from India. The correspondent of the London Times, writing trom there, is disposed to think that the flood of the insurrection has We dwell on these conflicting details, because, although they do not report any great advantage to the Britich troops, they do not evince that ra- pid disintegration of English power in Hindos- tan which many had supposed would reeult from this widespread mutiny; and in this respect it betokens an carlier re-establishment of the gov- ernment than the last mail from that quarter an- ticipated. Time is given for the arrival of the large reinforcements that have been sent out from England, while every week that passes without the obtaining of a substantial victory by the insurgents weakens their power and dimi- nishes their chance of success. In this point of view the news from India may be looked upon as being favorable to the British interests. Winanctal Embarrassments in Wal! Street— Cause and Probabie Effect. ‘We have been over and over again denounced by cur co‘emporawies because we had the clear- e* of mind to foresee, and the honesty and de- votion to the public good to foretell, the crash in monetary affairs which has been for some time back impending, and which has at last come upon us with ditastrous effect, With us the will was not father to the deed. We would have warded off if we could the evil, and we now de- plore its presence more deeply, perhaps, than thoee who scoffed at our warnings, and who tried 1o delude the public mind into a state of fancied security. The downward movement in financial affairs that was initiated on Monday last by the failure of the Ohio Life Insurance and Trust Company, is still tecding in the same direction. Yesterday we were called on torecord several failures in large operators and brokering concerns in Wail street, following close upon, if not resulting from, the suspension of the Ohio Company. To-day the list of euspended firms is enlarged. Rail- road bonds and stocks, and all other classes of securities, have sustained terrible depreciation, and there is no use in attempting to disguise the fact that there is a lower depth yet reserved for them. We publish to-day articles from the news- papers of other cities, to ehow what is thought of the matter elsewhere. ’ This financial revulsion has very naturally created much alarm in the minds, not only of those who are unfortunate enough to be holders of the railroad and other fancy stocks that have precipitated the event, but of those also who have deposits in the hands of those largely en- gaged in stock operations. The one class, con- vinced at length that the Heraty was just in its war against such worthless paper, will be careful in future how they deal and invest in such stuff, In this they will be wise. The day for confidence in railroad stocks is passed, and is not likely to return coon again. The other class of which we spoke—depositors—have equally caught alarm, and many of them bave been for the last two days insisting upon payment in gold of their reepective deposits. This poli- cy, although we cannot in the present condition of affairs find fault with it as unrea- sonable, is calculated to cause the very evil that it is designed to remedy. The last weekly bank statement showed that the aggregate deposits in the city banks amounted to $64,000,000, while the aggregate amount of specie was noly one- sixth of that sum. It was but $10,000,000. It follows, therefore, that if the run on the city banks were to represent the one-sixth of the whole deposits, the banks could not meet their liabilities, and would have to stop payment. Nor is it at all likely that they would wait for the last dollar to be drawn ont of their vaults to meet the demands of the depositors. If the aggregate draft reaches five millions of dollars, it is not at all improbable that most of our banks would have to succumb. We trust that we are not to have that bitter experience. If not, the present financial crisis will be productive of as much good, probably, as it will be of barm. It does not involve, after all, any of the great interests of the coun- try. It may embarrass, to come extent, our com- mercial affairs; but thoee will soon recover from the shock, and the great productive interests of the country will remain uninjured by it. The insolvency of all the bulls and bears of Wall street, their amalgamation in one common undistin- guishable ruin, would be, we verily believe, a na- tional benefit. Certainly, the people at large would have no cause to regret it. Many will, of couree, be sufferers from the depreciation of rail- road stock. But they must recollect that they bave themselves to blame for investing in secu- tities which are comparatively valueless, The preeent monetary crisis has not caused the worth- Jeseness of these stocks. It has only removed the fog from people’s eyes, and revealed the true condition of things. ‘The les#on, though bitter, will be, we hope, a salutary one. Fascy securities, and all that pre- carious class of business which promises large profits at immense risks, will be abandoned. Fi- nancial and commercial firms will henceforth, like individuals, confine themselves to their le- gitimate business, and affairs will go on steadily, safely and prosperously. If that be the result, then the present financial crisis will provg to be a general blessing. Tue Arrroacuine State Exection—Farse ann Reat Issves.—We find in the newspapers of the rural districts of this State lengthy disquisi- tions as to the real question which the people are to be called upon to decide at the State elec- tion in November. Some of them, blindly following the lead of the Tribune, will have it that the most important iseue is that of slavery or no slavery in Kansas. Others, again, as the Albany Stoterman and Evening Journal, are dis- cussing the relative corruptionisms of black re- publican and Know Nothing r/gimes. But the real question, we put it, is not whether Kaneas is to come into the Union as a slave State or as a free State. With that the people of this State have no concern whatever, and in fact they take very little interest in the matter. They are aware that the free State popu lation of Kansas are to the slave State popula- tion as ten to one; and if the free State men, with that proportion in their favor, and with a Governor whose fair and impartial course bas brought down upon him the ire of the ultra proslavery sectionista of the South, lose their game, the tault is theirs, and they de- eerve no sort of aympathy or respect. If they would only be manly enough to disregard the revolutionary and ridiculous ideas of that chap Lane, go to the polls like good American citi- zene, and record their votes in faver of or against the constitution that is to be framed for them, then there is no fear of there being foisted upon them a set of political institutions to which they are opposed. If they have not loyalty and common sense enough to perform that plain duty of freemen, then it is of very little consequence what “sort of institutions’ are imposed upon them. Certainly the men of New York have questions of rerious enough import weighing upon them at home to justify them in disregarding ex- traneous matters with which they have nothing whatever to do. As to the question discused by the Albany papers, whether the Know Nothing party or black republican party has proved most corrupt, we think the verdict of the people will be “six of one and half a dozen of the other.” Neither of these organizations had any other principle than that of public spoils, Witness the Matteson and Edwards cotruptions in Washington, and the measures of the last Albany Legislature, by which the city taxes are swelled a million and half of dollars, and the State taxes over three millions. The sole and real issue before the people at the next election will be whethor they are determined to aid the citizens of this metropolis in regaining their lost liberties, or whether they will again Place in power a corrupt and reckless oligarchy, with whom epoils, public plunder, and a disfran- chising policy are the principal incentives to ac- tion. They have nothing to do with bleeding Kaveas—nothing to do with the abstract question of whether the Kuow Nothings or black republi- caus are the greatest rogues; but they have every- tping to do with the question whether the people of the city and State are te continue in the enjoy- ment of republican institutions, and are to govern themselves withiu their respective local limits. ‘That is the question. Tue Break iN THE ATLANTIC TELEGRAPH.— The arrival of the America at Halifax has made krown the fact that the submarine cable which was being laid between Ireland and Newfound- land, had parted, some 340 miles from the Irish coast, and that the whole fieet had put back to Valentia and Plymouth. This will create much regret on this side of the Atlantic, as it doubtless has done on the other side: but there is no rea- son, ag we have expressed elsewhere, why any doubt as to the feasibility or ultimate success of the project should be anywhere entertained on account of this accident. Experiments had been made on board of the Niagara before the sailing of the squadron, as to the effect of applying the brakes in the paying out of the cable. All of those experiments re- sulted in the breaking of the cable. They, there- fore, we taught that the proper course to pursue in case of any kinking or other difficulty was not to apply the brakes, but to stop the engines and to continue paying out the cable until the ship would be brought to and the difficulty remedied. And yet, in spits of these experiments and of the Jescon they taught, we find that an over-anxi engineer on board the Niagara applied the brakes—on the supposition that the cable was being reeled out too fast for the vessel’s head- way—caused the cable to snap like a pipe stem, and effectually spoiled the work that had been for Fo far most satisfactorily performed. The proper plan now to be pursued by the company would be to dispense with the further aid of the American and British war steamers, and let the job of submergiog the telegraph cable be done by private contract. We undertake to say thai if proposals are advertieed for, the company will have pick and choice out of a dozen offers from competent American or British engineers, apy one of wkom will, at his own risk, contract to lay the cable in the most approved and per- fect manner, for a quarter the expense attending the government job. And we venture to say that the contractor wculd not have to make more than the one attempt. If there be much delay in the squadron putting to sea again, let the con- tract plan be adopted, and we will hear of no more failures brought about in the way this ap- pears to have been dore. Taw Kerrie Aone THe Pors.—The stock- jobbers of the Zimes, in the course of some philo- sophical remarks upon the crisis in Wall street, makes the following precious confession:— bling ostabiishment, and fhe whole sale of fie operations ls que ‘as ruinous, quite ‘as Comoralizing, quits as infemous as of the Groaiway “An enormous gambling establishment!” Good for Wesley & Co ; for they, likewise, are among these steck gamblers. ‘Quite as infamous as any of the Broadway hells!” State's evidence, and no doubt perfectly true. We shall expect next to see Wesley & Co. appropriating their profits from their stock gambling operations to the cause of the missionaries, or the Five Points House of Industry, provided they do not go down among the lame ducks of this “enormous gambling estab- lishment” of the Stock Exchange. We, too, say “stand from under!” Tue Lireratvre or Mopern Atuens —The motto of the town of Boston expresses the hope that God may be as good to all succeeding gene- rations as to the fathers who pitched their tents with Winthrop on Mount Shawmut two centa- ries ago. We apprehend that some of those fathers would be considerably shocked by the doings of their degenerate sons, who, in theee lat- ter days, have bad a severe fall from that grace which hanged the Quakers and set Hester Prynne in the pillory, What would Cotton Mather think of the following advertisement, which we take from one of the Boston papers?— le for Life, oF the Giaude'e Least Bullet, or the Price of Three Lives. Rogue O'Ponnell, or the Irish Claude Davai. Jenney Devic, the Female Highwayman.... “ Light” reading for the watering places, in- deed! The Newgate Calendar, the Pirate's Own Book and other works of the same class will soon be issued by some enterprising publisher, in blue and gold duodecimo, and advertised as “pleasant companions for the family- circle.” It is just tuch etuff as this which fills our jaile with adoles- cent criminals of both sexes. It is certainly light reading, but better for firing than watering places. Tur Last Know Norutwe Counct.—We are inclined to regret the space occupied in our last number by the report of the Know Nothing Council at Brooklyn; for assuredly a more deplo- rable show of silliness and folly was never made by any former public body. The democrats have often made themselves ridiculous enough; the republicans are very weak and foolish; but so pitiable a epectacle as these Know No- things made, it hath never been given to man to witness. It is impossible to say which waa the most amusing, the President's verbose address; the reeolutions that were put and carried; the debate among the greater lights of the party; or the magnanimous resolution of the chiefa to throw themselves into the pending contest for the mas- tery of the State. One would really fancy, on reading this stuff, that the American party was alive yet, and could do something. Tas Recarts or tas Mover \ musox Assomatios,—The re port of Mrs, Susan |. Pellets, corresponding the Ladien’ Mount Verron Assootation, shows the following receipts aince Ita organization —Soath Carolina, un ¢ , Alabama, ; Ponneyiranis, 60; irginics Sante. tae rere fand, $1,566.’ One contributor, Mre Emily Avgnsta, THE LATEST NEWS. Hews from Ws THE UTAH MILITARY RXPEDITION—ToE Uram aF- POUNTMENTS COMPLETED—THB STEAM SLOOF BOAR —TBE PEW BNGLAND CLERGY AND THE PRESIDENT, Bro. Wansainaren, August 96, 186%. General Goott arrived here this morning. Ho has been busy all day with General Jesup in making outs pro- Gramme for the movement of troops for Utah. They have final y decided that the expedition to Utah shall proceed, Tete Rot decided yot whether General Harney or Colonel Jobnson will command the expeditioa. Governor Watker is very anxious to retain Harney in Kansas. A mensen- Ger wil be despatched to Kansas to-morrow to settle the matter. Dr. Forney, of Pennsylvania was t>-day appointed Superintendent of Indian affairs for Utah. This completes all the eppointmenta for that Territory, They will alt Proceed Weat immediately, and jxin the army at Fort Laramie, Governor Cumming is now at Fort Leaves- ‘Worth, wailing for the otber appointess to arrive. The following are to bes Board to decide upon modeis: ‘and plans for the steam sloop of war:—Commodore Blew- art, Captain Pendergrast, Commander Hartstein; Naval Constructors Grice, Lenthall and Hartt; Chiof Kngineere Gay, Archibold and Sewell, They meet noxt Monday. Tlearn that there has been a very interesting corres- Pondence be ween several New Exgland clergymen and President Buchanan, on Kansas affairs, These white crayated gentlemen— portion of the original three thou- sand—desiring to dabbie a little more in politics, wrote te the President tn regard to the course of Governor Walker, Tt is said that the reply of Mr. Buchazan is a masterty papér, and one very proper to send (o these meddling parsons. Information baving been received from the special egent of the Indian Bureau that the annuities due the Sioux Indians, Minnesota, can new be properly @add, in- structions for that purposo baye been despatshed by the acting Commissione © Indian Affairs. J. B Danforth, of luinois, has beem appointed Pursor of the Navy, vice Dobbin resigned. Bank Convention at Boston, Boston, August 26, 1887. About one hundred delogates, represonting nearly al! the New England banks, m% here to day, to take prelimi- rary measures fore bank of matual redemption, to take the place of the Suffolk Bank redemption system. Mr. Bates, of the Westfield Bank presided. It was announced that the half million of dollars capital required by the charter had been nearly all subscribed. A committee was ‘appointed to eelect a Board of Directors, and {dications are that the new bank will shortly gointo operation, Banking Affairs in Cincinnati. Civerman, August 26, 1867. Banking matters were comparatively quiet here to-day, though Third street was quite as crowded as yesterday. None of the State banks are discredited yet, The bankers ave agreed not to sort or return the notes of the country Danks for thirty days. There has been no run om any bourse here eliher yesterday or to day. Notes of the Ka- pawha Bank sell at fifty per cent discount. ‘The National £ mancipation Convention. CurvaLamp, Ohio, Avgust 26, 1867. this morning. The attendance was not large. SBOOND DAY. Delogates from nearly all the free States and from Mis- souri and Kansas were present, Rev. Mark Hopkins, D D., of Massachusetts, was chosen President ; Rev. Mr. Rankin, of Ohio; Hon. J, B. Wu- ams, Rey. Mr. Monroe, of Michigan ; J. A. Cody, of Kaa- sas ; Bimon Sever, of [linois, and Alfred Handy, ; Dr. T. B, Elliott, of Indiana ; ‘Mr. Denison, of New York, and J. F. Keller, of Oni, Seo- Letters approving the objects of the Convention were Rev. Dr. Nott, Professor B. Silliman, of Yale 1g0; Rev. Dr. Colley, of Granville, Mass.; Hon. EK. Fairbanks, ex Governor of Vermont, and many others. Business Committee was thon appointed — it; Rev. Mr. Dennison, New York; W. . B, Stinson, Missourt; J. B. Wu- cE J. F, Keeler, Oblo; Hon. J. A. Foot, . D. , Rev. Dr. Adkins, Rev, President Hop- ins, and Hon. Gerrit Smith. ‘The objec's of the Convention were then stated by EK. Burrett, Roy. Mr. Dennison and others, The altendance was numerous and the proceedings were looked upon with considerable interest. Resolutions were introduced and spoken to by Meeare. Barrett, Smith, Deonison and others. Plans of emancipation and compensmtion were intro. duced by the Business Commitiee and discunsed. ‘Two of the leading ideas were the appropriation of the public lands and the customs revence, beyond the ex- Penses of the government, to the purposes of cempensa- tion. Other ideas wore also introduced, and would be debated by the body. ams, N Acquittal ef Governor Robinson, 8, Loves, August 96, 1867. Governor Robinson, of Kansas, hat been tried and ecquitted. Hews from Santa Fe, Sr. Loum, August 26, 1867, ‘The Banta Fo mat!, as lato as duo, has arrived here, ba® (Mt brings no mews of impertance. ‘The contest beiween the candidates for Congrem was violent and exciting. The mail party met Colonel Sumner at Fort Acithesom os route fur Bent's Fort. A few days previous to this Colonel Sumner was attacked by 400 of the Cheyennre Coionel 8. routed and killed nine of them, destroying their property and taking their an!mais. Bews from the South. ‘Wasnuncton, August 26, 1867, Now Orleans papers of the 20th inst. are to hand ‘The cotton accounts from Red river are very promising, but the crop is twenty daye later than usual. ‘The citizens of San Antonio, Texas, were adopting sutte- bie measures to express the sorrow of the public at the death of Senator Raak. Attempted Assassination, PuLaDELrma, August 26, 1887. Mr. James Brown, of the firm of Wm. MoKee & Oo., of this city, dry goods merchants in South Front street, on returning yesterday in company with his four children ta ‘a carriage to his country seat, below Marous Hook, om the western bank of tne Delaware, drew up 0,pontte his rest- dence t let the upward train of cars from Wilmington pass, when be was fired at by a passenger from acix Darrelied revolver, and struck in the left cheek, the ball lodging under the leficar, Mr. Brown was carried te his # Bj He iE a Br 5 1; e ; off ai b j