The New York Herald Newspaper, January 26, 1858, Page 4

4 NEW YORK HERALD. ome ere OPFICR F. W. CORNER OF FULTON AND NASSAT OTS. FRE DALE? WERALD, t09 cents per copy 87 per anew TRE WEEKLY HERALD every Satwraay. al six conis per tai pars Gren Brsin or BS Uh oms ror of ike Connon ash THE FAMILY BERALB emery Wodmewiay at four conte per OF 82 er ane mm VULUNTAKY CORRESPONDENCE cont L-ting awe, eolctied from any quarter o/ the world, (fused Wt be Nhe peliy padd for @Q-OUK FORMIGN CORRESONDEST! ARE Roouaniy Reavesran to Sea: ali Larrens anp Packscns va. NO KOTICE taken of anonymous correspondenc. We do no Preterm (hoa revectad. JOB PRINTING executed with nsamess, cheapness and des ADVERTISEMENTS renewod orcad in the Waenkiy Henan, Cuifornia and front: day, advertisements Famicr Uamald, and in te Burvpaan BAitions ————————— No, 25 AMUSEMENTS THIS EVENIS? a -—EQesTRiay AND BROADWAR SERATRE, - Breedwey Si" ras Lactan Mat. Giste Burraa. PIBL(# earner f BitqaePenveamac Pusmoe Broadwer—Kovwerecaxria axe Gru- . Morea, ANT, AND SOWES! THEATRE. Sowery—Hxgwe, tam Husrer— Pau ar—Kune er Cross. KURTON'R THEATRE, Broadway, opposiie Bond atreet— A Day or Reoromtno—Oorvms oy loamy WsiLsOw'e THEATRE Broadway—Tas Vicaz or ‘Wacerire—A Drowen C aw LAUG4 KEENE'S THRATRE. j—MULETEER Broadway—Ligut Movse —Comeec at LEssom. oF ferzpo. BASNUM'S AMFRIVAN MUSECM, Broadway—Afternoon — beware tus Taurran—Tax Inie Haraager, Bvening : Piosaua Pataior. woor's BOTH! Gvaury & Woon's Leors aes. S6t and 66° Broadway—Groncs asie—Tua Toooies, witm CavpLE BUCKLEY'S SERFNADERS No. 444 Rroadway—Necro Bi.ovrgs asp Buaresaves—Tak Gest Ore Honsk Snow, JL, 472 Proaderay—Ravane's MIvsT2 Es aD ~~ Wew Work, Tucsday, January 26, 1858, | Gals FOR EDROPE, @ne Sew Yors Hcraia—Kdition fer Europe. ‘The Cunard mail steamship America, Capt. Wickman, will leave Boston on Wednosday, at noon, for Liverpool. Ths Kurupear mails will close in this city at noon to- Gay, w gv by railroad, and at balf-past two o'clock P. Ml. te go by steamboat Tus Beropeas edition of ths Hmmitn, printed tm French Bad Rogiish, #i!! be pubusdod atten o'clock tz tue morn ing Singie copise, iu wrarpers, six conta Subscriptions and adveriiseeata for any edition of the Baw Yous Bssaze will be received i the following places iz Burope:— Lowpex., ..Samson Low, Sox & Oe. An. 4 Lodgate ntl 51 Rog Wi a henge street, Hast Am *®vropean Express Co., 2) Rue Corn ‘The contents of the Buropean edition of the Marat dombins the news received by mai) and telegraph at the edice during the provioas Wook aad up to tas hour of pub- teance. Nothing of special importance transpired in the proceedings of Congress yesterday. In the Senate & report was received from the Committee on Cen- tral American affairs. The committee state that the by * the inflation of the credit system, fos: tered by the loans of banks and corpo- rations, reached a point which could not Le sustained. They were above the value of labor to be given in exchange for them. Hence a reaction and breakdown sooner or later was inevitable. Debts incurred at the high prices of produce, mer- chandise, stocks and bonds had to be met with the proceeds of such property as sold at twenty-five to fifty per cent below the inflated value they had previously occupied in the trading world. ‘The great decline in the staple articles of exports and im- ports are shown by carefillly prepared estimates and tables. Had no other causes for the revulsion ex- isted than the great losses sustained in the East India trade in wool, hides, flour, grain and provisions, in sugar and cotton, and in the fall of corporation securities, they would have been amply sufficient to have produced it. The results of the revulsion have been made appa- rent, while the change, although inflicting much temporary suffering and inconvenience, will, no doubt, result in good by purifying the elements of trade and commerce from reckless speculation and reducing them to healthy and regular movements, ‘Yho cotton market yeaterday was not materially affected by the Furopa’s news. Holders asked a slight advance, which purchasers were not disposed to meet. It scems that private letters spoke of closing dullness in prices at Liverpool, and stated that the market had a receding ten- dency on the day the steamer sailed. Hence, before our market can become settled it will require further news by the steamer due at Halifax. The sales yesterday were confined to about 500 bales, without quotable change in prices. The news had no effect upon the flour market, which closed dull, without material change in quotations. ‘Wheat was firm, but sales were limited to some lots of Virginia good white at $135, Kentucky do, at $130, and mixed Western at $110. Corn advanced about one cent per bushel, with moderate sales. Mess pork advanced, With sales at $15 25 a $15 37; and at the close $16 37 was offered and $15 50 asked. The sales of sugars embraced about 500 hhds. New Orleans, 1,000 boxes Havana and 7,000 bags Siam, from Hong Kong, all at rates given in another column. Coffee was quiet. Freight engagements were moderate. Flour was taken for Liverpool at 2s, an I wheat in bags at 59¢d., with bacon at 20s. and Sea Island cotton at *,d. To London flour was taken at 2s. 6d. Kansns—The Administration and the Wash- ington Democratic Organs, We transfer to our columns to-day an article on Kansas affairs from each of the three organs of the democracy at Washington—the Union, the Evening Star and the States. ' They do not throw much additional light upon the subject, but the views of each of these would-be ad- ministration interpreters are decidedly interest- ing and amusing when compared with the pe- culiar notions of the other two. The Union, the would-be administration or- gan, par excellence, pleads the binding force of the legality of the Lecompton constitution; but spoils its case with an exoess of injudicious epi- thets and windy philosophy. It is hardly ne- cessary to go all the way back to the democra- cy of Athens in order to illustrate the border roffianism of Kansas. Nor are such outbreaks ofa virtuous indignation as “a pell-mell ma- jority.” “the ballot box of the mob,” the “ballot box of brute force,” and “away, then, with the place where Walker was arrested was beyond the jurisdiction of the United States—but that in view of all the circumstances attending the arrest, it did | not cal! for any further censure than as it might { Lereafter be drawn into precedent. The time of the | House was principally occupied with a discussion on giavery in Kansas Gur correspondent at Washington states that let- ters have been received there from reliable parties | in Mexico, which exhibit President Comonfort’s re- | cent movements in a new light. The writers state | that Comonfort bad determined to resign as early as the beginning of November; but a movement in his fav wing been made by some of his friends, with- | covt his knowledge, be felt himself compelled to en- Gorse it,in the hope of saving the republic from a@oarcby and ruin. Mr. Secretary Stanton has arrived at Washington, and says that Geferal Calkoun may be expected | there in a few days with the Lecompton constitation, | ‘The President bas prepared a message on the sub- ject, which he will communicate to Congress should | that body call upon him for information. Commis: | sions will be issued to such naval officers as have | been restored, in a day or two. Advices from Leavenworth to the 20th inst. state that a messenger had been sent with despatches to Washington by General Calhoun, the purport of which was that General Calhoun had rejected the election returns sent to Governor Denver, on the ground of illegality. This gives the State officers to te democrats, a majority of one in the Council, and two in the House. The Special Committee on Public Printing have futhorized the Hon, George Taylor to open a cor- reapondence with printers and others engaged in publishing, with a view of obtaining all information on the subject possible. The committee propose to establish a public printing office, or in some other way to obviate tne evils arising from an incessant for the spoils. Specimens of Congres- gional work are to be deposited im this city for in- #pection by publishers and others interested. in the Board of Aldermen last evening a commu- nication was received from the Mayor suggesting the necessity of ap; to the Legislature for ac- commodation on t ine of the Battery for the londing of United States naval and military boats. Letters from Gen. Scott and other officials accom- penied the communication. A resolution recommend ing the erection of a fire proof building for the Sur- rogate and other public officers was referred. A Berl resolutions recommending the overhauling x of ail the departments were read and laid over. Another lengthy communication on fraads in the Btreet Com net Department was received from Mr. Conover: itg reading was suspended, and d to lie on the table. mittee on Taxes of the Board of Alder r + yesterday for the purpose of inquiring into the reasons why certain parties allege that their property is over taxed. Several cases were disposed of, the committee after hearing what the petitioners ad to say, either remitting partially or entirely the amovnt levied upon them. All the sums thus re- mitted were very trifling, and therefore the business transacted was not of public interest. Two birthday festivals in honor of Robert Burns footie's immortal bard, took place last evening —one ft the Metropolitan Hotel and the other at Mozart Hall. Both were well attended, and the proceedings p'easant and harmonions. Rev. Dr. Adams delivered an interesting lectare on the © Idea! of a Merchant” before the Historical Bociety last evening. An investigation was had by Coroner Gamble yes. terday into the circumstances attending the death of » McLinden. The evidence corroborated the Btatements made by Mclinden, and the Coroner com. Mitted William Qrinn to await the action of the Grand Jory on a charge of homicide. An interesting and elaborate article on “ The Late Revulsion, its Causes and Results,” will be found else- where. it unfolds the primary causes which led to the extraordinary revulsion of the past year, Re- itw markable for its suddenness, its wide spread influence, as well as for the great num ber of failures which it caused, the large amount of liabilities it developed, together with the large aggregate losses sustained, or of capi tal, real and nominal, swept away. It was found by lysis that the great decline in produce @aref.: ana fand merchandise, and the losses sustained thereby to the trading public, both in America and Europe have to some extent a ratio to the amount of assets which disappeared by the failures which occurred, together with the losses which houses sustained, who pevertheless, neither failed nor suspended. The facts go to show that prices of all apecies of proper ty, and cape and merchandise, had ally of prod demagogue appeals for the will of the majority,” calculated to benefit the Lecompton constitu- tion or the administration in the slightest de- gree. We apprehend that it will be many a day hence before the opposition will have forgotten these expressions, and how to use them in their “demagogue appeals for the will of the ma- jority.” Thus much for the Washington Union. As an organ of the demoralized democracy, it sad- ly needs the advice of Talleyrand, that “ words are intended to conceal,’’ and not to betray our ideas ; and, as an administration organ, it has been an incubus to the administration from the time of father Ritchie. The little Star has an easier office, as the chiffonier of the Cabinet, and a wider margin of license. But even the Star, in the present instance, has exceeded its proper limits. By this time it has learned that the free State party of Kansas have carried the State officers, the State Legislature, and the member to Congress in the vlection of the 4th instant, and that thus, though admitted under the Lecomptc> constitution, Kansas, to all practical intents and purposes, will be admitted as a free State. But our little Washington organ. the Star, fur- ther assures us that “it will be found, when the official returns reach Washington, that their ag- gregate vote (Lecompton) far exceeds the ten thousand majority alleged to have been polled on the same day (the 4th instant) against the Lecompton constitution.” What this means we cannot undertake to guess; but if the reported vote for the Lecompton constitution of six thousand or so in Kansas, is swelled to twelve or fifteen thousand by the time it reaches Wash- ington, the fact will be abundantly established that John Calhoun is a most wonderful man. Yet such “explanations” as these by a Washing ton democratic organ are made to strengthen the trembling nerves of the Northern democra- cy in Congress. The other little democratic accompaniment, the States, stands upon its dignity. It has evi- dently taken offence at something which the administration bas lately done, or failed to do; for Major Heiss scarcely attempts to disguise the fact that he has gone over, bag and baggage, to Senator Douglas. The New York Tribune it- self has not presented a more plausible array of facts, figures and assumptions in behalf of | the rejection of the Lecompton constitution than are embodied in the article we give to-day from the State. But the correction of a single mistake will demolish the whole fabric of its argument. The States vays that the legality of the vote on the 4th instant against the Lecompton con- stitution “ having been recognized by the Presi- dent, through the letter of Gen. Cass to acting Governor Denver, and by Governor Denver, in his address to the people of Kansas, we are au- thorized to look at that vote in connection with the vote cast on the 2!st ultimo upon the fea- tures of the constitution.” No such thing. The President recognized the authority which called that election of the 4th January, and the right of the people to vote therein: but in no shape or form has he recognized the legality of that election in reference to the Lecompton constitu- tion. The President holds that the popular work upon that constitution was consummated on the 2ist of December; and that the legal ratification was perfected in the majority of votes cast on that day. The statement of the case by our Washington cotemporary is adroitly done; and it is well adapted to serve the purpose of Northern trimmers in Congress or, Southern artfal dodgers. But it misrepresents the great legal issue upon which the whole question turns, and upon which the administration has resolved to stand. Admit the vote against the Lecompton con stitution on the ith offanuary to have been ten thourand, or even fifteen thousand, still, in a legal point of view it amounts to nothing at all The legal ratification of that constitution came offon the 21st December. The result of that election could no more be affected by the elec: tion of the 4th of January than could the regu- lar election of a Mayor of Washington be upset by a volunteer election the next day. And we Say again, that although the Lecompton con- stitution, 60 far as slavery is concerned, is re- duced to the mere shells of the oyster, while the free State party have secured the itself, the South cannot recede without treachery to its friends and dishonor to Southern chivalry. On the other hand, as the free State party of Kaneas have since proved what they could have done had they taken part in the election of the Lecompton Convention, they should be rigidly *held responsible for the consequences of their folly in permitting the Convention to be elect- ed entirely by the pro-slavery party. The administration has no alternative. It must abide by the developements of the law. The Wachington organs of the democracy are not in a position to comprehend clearly the real merits of any case, directly or remotely affect- ing their little plots and schemes for the spoils and plunder. Parties and principles at Wash- ington are so intermixed with lobby combina- tions, and personal intrigues, and factious con- sptracies, and drinking, and gambling, and all sorts of nightly carousels, that most of those concerned in the dirty work of politics between the President's house and the Capitol are ut- terly incapable of a wider range of vision. We cannot, therefore, depend upon the Wash- ington organs for any correct information upon any great issue concerning which there is a disagreement among party, sectional or fac- tious leaders in Congress. To the various com- batants in a general battle of the factions all is confusion; but to the calm observer a little above and beyond the smoke and dust of the scene, all the shifting currents of the fight are discernible. This is precisely the advantage in reference to the political field at Washing- ton which we here in New York enjoy ever our cotemporaries of Pennsylvania avenue. We reject alike their windy phi- losophy and their false issues concern- ing Kansas. The simple issue is the legality of the Lecompton constitution. It is the legiti- mate offspring of the Kansas-Nebraska bill of Mr. Douglas, and though he has unblushingiy abandoned his own child asa foundling, the rest of the democratic family cannot cast it off without disgrace. A slave State constitution with a free State organization is, perhaps, an anomaly of “popular sovereignty” which neither Nerthern nor Southern disorganizers may be able to com- prebend; but as such are the legitimate fruits of the Kansas-Nebraska bill, the administration has nothing better to offer. The President sticks to the law. Let Mr. Douglas save himself if he can; but let Southern men, at least, ad- here to their compact. Exchanges between the United States and Cuba—A Call apon the Captain-General. Atmong all the curious problems presented to us by trade, none seems more incongruous with the advanced civilization of the two countries than the vast range of exchange between the United States and Cuba. During the past year the course of bills on New York has ranged, in Havana, from ten per cent discount to four per cent premium, being a difference between the maximum and minimum points of fourteen per cent. The same great range is noticeable in exchange on London, the minimum point having been four and the maxi- mum eighteen per cent premium for bills on that polut. In view of the facilities of inter- course and for the shipment of specie be- tween New York and Havana, such an extra- ordinary variation in the course of exchange, forming as it foes a heavy tax upon commerce, is without example. From the first of January to the middle of August of last year, which comprehends the time when almost the entire bulk of the shipments from Cuba to this coun- try are made, the rate of exchange on New York averaged, according to a table now before us, a discount of five per cent. During that time the amount of bills drawn against ship- ments of produce to this country alone could not have been less than thirty millions of dollars, upon which the loss by discount oa ex- change alone amounts toa million and a half of dollars. The average discount on the London bills was very nearly the same, and estimating the value of the shipments drawn against’ on that point at twenty millions of dollers, we have an additional loss of one million to the trade, meking in all the sum of two and a half mil- lions of dollars loss in exchange. We should not, however, estimate this as an entire losxgo the merchants, for if our balances with Cuba were paid as they are with other countries—that is by remittances of coin—the cost of freight, insurance. interest and commis- sion thereon would amount to one and a half or perhaps two per cent; yet still the loss is equal to three per cent on the amount of trade; and as the aggregate is so large, it is an enormous barthen on commerce, and must arise trom some extrancous cause that should be removed. Such a cause does exist and is a reproach to a government that claims to be classed among the civilized and enlightened Powers of the earth. While the old Spanish doubloon is .the standard of currency in Cuba at the value of seventeen dollars, thus forming a currency of 17 of silver to 1 of gold, foreign coins, all of which are struck at a much more favorable ratio be- tween gold and silver, are not allowed to pass current. During the past year the merchants of Havana endeavored to correct in part the evils of their circulation by agreeing to receive among themselves United States gold coins at par; but the government immediately took measures tofprevent this, and as a large amount of gold had already been imported, it snddenly fell to ten per cent discount, while the common people refused to receive the half eagle at a greater value than $4 25. The argument of the government in defence of this course is, that fora government to receive any other coinage than its own, or to permit the circulation of such among the people, is derogatory to its dignity and honor. The busy season of export in Culva is now close at hand, and although owing to a varicty of causes foreign exchange is bigh there, to the great disadvantage of its own merchants, as soon as the crop begins to come forward in force, and create a supply of bills, the same fiuetua- tions must occur that have been witnessed in other years, to the great detriment of the plant- er, Havana is now experiencing the penalty of government interference in financial matters, and a contracted circulation promises to have a very disastrous effect upon the prices of its ttaples, Everything that affects these affects not only the interest of the planter and the merchant, but acts directly upon the revenues of the government. We therefore call upon the Spanich authorities in Cuba to throw open the channels of circulation in Cuba to English, NEW YORK HERALD, TUESDAY, JANUARY 26, 1858 French and American coin at their {atrinsic or par value. In thus abandoning a policy that be- longs to the dark ages, it will confer positive benefits upon its own trade and citizens, as well as those of other nations who hold commerce with it. Seward and his New Schemes—Emancipation, Amalgamation and Decay. Renewed efforts to create the anti-slavery agitation in the North are apparent on many sides; and several petitions, after the old style, have already been presented to Congress by Seward, who is one of the chief leaders in the movement for white and black fraternization, The object of these agitators is nothing more than political advancement, they being just as ready to take up or abandon teetotalism, spiritualism, or any other mania, as they are abolitionism ; but they carry a good many well intentioned though short slighted people in their train, who believe that in striving for the abolition of negro slavery they are doing humanity a service and laboring for a great national good. In order to blind their ad- herents to the true results that would attend their echemes, should they be successful, they talk now of a grand emigration that is to take’ place to some tropical negro paradise, a long way off, where “distance lends enchantment to the view.” There the negro is suddenly to fall in love with labor, imbibe new capabilities and ideas, and achieve wonderful things. Yet Seward and his clique know full well that the emigration of the four millions of negroes now in our Southern States is an im- possible and unattainable thing; and that amalgamation of the two races would be the in- evitable result of the abolition of negro domes- tic servitude. When the social superiority that now preserves the white race from inter- mingling with the black is destroyed, the same results must follow here that have followed the same cause in all Spanish-America. Dema- gogues like Seward obtain full sway over the minds of the ignorant and unreflecting negro; the rule of intelligence is superseded by that of brutish sensuality; the sources of industry are dried up; property and life become insecure; a hybrid race, with all the sensuality of the negro and the vices of the white, springs up, and brings with it political instability, the decay of society, and continued revolutions to obtain power. These are the accompaniments of the abolition of negro slavery, and of the domestic service of the Indian races in Spanish-America, under the system of peonage. Two independent countries in America and one colonial system alone have held to the steady march of progress which the rest of the world is making, and these are the United States, Brazil, and Cuba and Porto Rico. Everywhere else we find the results of abolitionism so faithfully portrayed by the Rev. | Dr. King. who went from Scotland to visit Ja- maica a few years since, in an address deliver- ed in Kingston, where the truths he uttered came home to every man’s knowledge. “You have peace, fertility and health,” said he; “ all the usual guarantees of national well being— and yet your leading families are disappearing; your stately mansions are falling into decay; your lovely estates are thrown up; men’s hearts are everywhere failing them fer fear, as if war, or famine, or pestilence desolated your bor- ders. * * * But it is too certain that the highest of all interests are suffering; * * * that ministers are returning home ; schoolmas- ters are returning home; and the places of those competent and devoted benefactors are left vacant, or filled by others less qualified to succeed them; * * * and ignorance, irreli- gion, superstition, intoxication, profligacy, are hovering like birds of prey over your schools and chapels, threatening them with destruc- tion.” These are strong words, but the experiments of English, French and Spanish-American phi- lanthropists have proved their truth to a re- luctant world. Europe has tired of the huma- nitarian negro Utopia, and is already consent- ing to the establishment of a system of domes- tic servitude for the inferior races. Wher- ever the white and black must live together in society, there must be a social bar that shall prevent ‘amalgamation and decay. Yet would these fanatical aboli- tionists still pursue the path that Europe is so desirous of abandoning, and instal not only the abolition of negro slavery, but its concommi- tant amalgamation of races from Maryland to the Rio Grande. Should their policy be adopt- ed by this country,a death blow would be struck at Anglo-Saxon progress in America. We should be filled with Intestine disorder and misrule throughout the South, and repeat, per- haps on a more bloody scale, the civil wars that distract the hybrid populations beyond our southern border. New Orleans, Charleston and Nashville would become the scenes of similar revolutions to those that are now enacted in Mexico, Vera Cruz, and San Luis Potosi, till perhaps some new Faustin the First would re- establish order by reducing all to a barbarous despotism. It may be said that the Anglo-Saxon race would never submit to this. Very well; take the other horn of the dilemma, the only other possible result. The whites would not submit to it; they would band together and reduce the free negro to submission or drive him out. Drive him out they might, as he has been driven out of many of the free States already ; but who or what would replace him be- | fore the entire fabric and organization of Southern society should be destroyed? He could not be replaced, and the peaceful amalgamation of races would then be preached as readily by Seward and the abolitionists as they now preach emancipation. Breed none but mulattoes, and then quadroons, and then quinteroons, until you have elevated the negro to the rame color and intellectual capabilities that the white possesses. Thus the question re- solves itself into a simple destruction of the black race in America by the process of amalga- | mation. It does not settle at all the question which these fanatics assert to have at heart the improvement of the negro race, Master Seward need not hope to create a great triumphant abolition party in this country. The Anglo Saxon race here is too matérial in ite tendencies to reject the experience that thirty years of humanitarian experiment has thrust upon the world, and follow in the foot- steps of Spanish-America. Both practice and science have demonstrated the utter incapacity of the black for intellectual improvement, and the vicious tendencies of the hybrid races. The question of the social status of the negro is now to be argued on material, and not on abstract grounds, The backbone of abolitionism has been broken by the complete failure of ‘the ex- periments of its own partizans, and the coun- tries that till hold the negro in his proper po- sition will profit by the experience of others. . Monzany Psosracrs at Houz asp Annan} THE LATEST NEWS. ‘The city banks again showed last evening the enormous aggregate average of $30,829,151 in specie, and that with a California arrival close at hand. Exchange, as was expected, drooped during last week; henee the prospect thut we shall continue, for a long time to come, to re- tain an enormous amount of specie is very pro- mising indeed. On the other side of the water specie is in the same way accumulating at the great centres of trade, and the rate of interest is falling. The Bavk of England holds $57,000,000, and has re- duced its rate to 6 per cent; the Bank of France holds more than it has ever done for the past three years, and has reduced the rate to 5 per cent; at Hamburg, the rate is 4}; in Belgium, the bank bas reduced the rate to 5, and the Bauk of Holland to 6 per cent. All over the world the same phenomenon is witnessed. The reaction which was certain to follow the panic is driving the specie to the great centres, and trade is yet in too shattered « condition to dis- turb it. * Thus, we see there is good and evil in the mign. Good, for it chews us that all the leading countries in the world are intrinsically rich and prosperous, and that their people hold con- siderably more specie than has ever been sup- posed; and evil, because the plethora of builion in the banks implies a withdrawal of cash means from business where it is fair to suppose it was doing good service before. Every dollar in specie poured into the banks of London, Paris and New York is so much tuken away from commerce, agriculture or in- dustry. So long as the banks continue to ac- cumulate, so long must business of every kind remain dull, and so long must the country be deprived of the beneficial effects which a judi- cious employment of capital would produce. The best sign that we could have now would be a steady yet moderate decline in the returns of the speciein bank; for this would be a sure in- dication of a revival of trade and industry. It is pluin that this sign cannot be far dis- tant. Tbough failures continue to occur, and it is to be feared that many mercantile houses and corporations which have thus far withstood the pressure will yet be compelled to go into liquidation, the horizon is very bright indeed for the large class of young houses now start- ing, and for those old ones which foresaw the storm of last October, and shortened sail in time. As the summer advances, money pro- mises to be worth less than five per cent at all the great commercial centres. With capital as cheap as this, trade cannot long remain stag- nant. It is not likely that we shall be far ad- vanced in the autumn before we feel the first of the tide of a fresh expansion. It will be curious to note whether the disaster of last fall will have taught us anything; or whether we are still as ready as ever to embark in insane specu- lations, and to blow out the bubble credit until we are once more overwhelmed by the neces- sary collapse. Tae Gwartor Resets tw Ixpta.—The unhap- py death of General Havelock engrossed so much attention when the India news first came to hand that the defeat of General Wyndham by the Gwalior rebels has attracted but little notice. It is, however, an event of no slight significance. It is the first actual defeat in the field which the English troops have suffered, and is the more important asthe regiments under General Wyndham were in part, if not wholly, trained to service in India, and thoroughly reliable men. One of them had fought under Havelock throughout the campaign. It is again an important event in view of its locality. Gwalior, the chief town in the dominions of Scindiah, is near enough to Oude to exercise a very marked influence over the turbulent and insubordinate people of that kingdom, and the place where the battle was fought seems to have been near a spot some fifty miles from Cawn- pore, where Nena Sahib is supposed to be lurk- ing with his force. These Gwalior rebels, it need hardly be ob- served, differ in no partioular from other Se- poys. They were paid by Scindiah, instead of the East India Company; that was the tribute he paid for the sort of independence he en- joyed. They were mostly raised in Oude, from whence the most troublesome of the Sepoys come, and were, until the outbreak, highly con- sidered as an efficient corps d'arm'e by the company. They were in fact an army by themselves, with artillery, cavalry, transport and commissariat complete. Some of the English papers are inclined to reproach General Wyndham with the disaster. They say that be showed courage at the Redan, but nothing more ; and that his enffering a de- feat at the hands of these Gwalior rebels, when he must have had at least halfas many men as they, shows a want of military skill on his part. Be this as it may, it seems that Sir Colin Camp- bell has pretty effectually effaced the stain and the Gwaliors, too; we may perhaps hear no more of them. The accident may teach the English and their Indian leaders that though the backbone of the rebellion may be broken, its body is not crashed yet. It looks very much as though the English were going to have a second odition of our Florida war upon a larger scale ; as though Nena Sahib and the other rebel chiefs would take to the mountains and to the jungle andcarry on a guerilla warfare, as best they could, for many a year to come. It is known that the Indians can live on a handful of rice, so that commisariat is a thing not requiring preparation, and the hills and jungles of Hin- doston offer magnificent hiding places for ban- ditti. The end—the ultimate end—is quite cer- tain ; but meanwhile many a brave Englishman will be likely to find a grave under the sod of Hindoston. Cnaniry Conceer—A concert in ald of the Widows’ Fund of the American Female Guardian Society will be given on Wednosday evening, at tho Home Chapel, Fast ‘Twenty ninth street. Several distinguisnod amatours will fing, and the afair is worthy of patronage Naval Intelligence. ‘The United States stonm frigate Niagara went into dry dock at the Brooklyn Navy Yard, om Saturday afternoon, | the 284 inet. It bas not been ascertained as yot what ont- side repairs @e needed, until an examination is had into her condition. Lieut. P. 1. W. Fontain, of the Brooklyn Marine Bar. racks, bas beon ordered to the United States ship Colorm ¢o, lying at Norfolk, Ve. The following Engineers have been ordered to the Unit- 6:1 States steam frigate Colorado, at Gosport:-—Chief Rn ineer—W. W. Wood; Firat Aseistanta—f, C. Dade, T. A. k, Second Assistante—1. W. Moore, Alexander Grier; Third Agsistants—Charles H. Levy, F, K. Hain, Jobm Pur: dy, Philip Inen ‘The following Engineers have been ordered to the United State steam fri ara, at New York —Chief Engineer J. Vollanebe at Aseistante—John Faron and Wm & Stamm; Second Assistants—M. Kellogg, i Third Assistents—Jackson Mckimetl, — Racebler CANADIAN Seat or Gove in circulation yesterday that the sent tion bad been settled, and that Mootroal was the piace se lected, — Montreal Herald, Jan, 2. from Wi ‘THE DICTATORSHIP: compnroes antearsaT rat ‘TON IN WASHINGTON—XANBAS AFF AIRS—INOREASS Ov TRB ARMY, RTC. ‘Wasuincrox, Jan. 25, 1868, ‘The Merican question excites a good deal of interest here among ie diplomatists, and all are curious, not to say anxious, for’ the result. The article in the Huraxp the day before yesterday touches the whole thing on the raw, and the Spanish ley’ation is exceeding wrath at it. Senor - Arrioja, the Mexicaa minister to Berlin, has come om here from New York to confer with Gen. Robles. Ietiers have been received here from the high- est sources in Mexit'o, placing a new light upon President Comonfort’s recent movements. They state that as early as the beginning of November last, seelog the impossibility of carrying on the government under the new Constitution, he had deter- mined to resign. Many persons who bocame aware of this intention endeavored to dissuade him from it, setting forth the confusion that would inovitably resuft in the re- public. At this time Payno and Zuloaga initiated # move- meat to set aside the constitution and confer upon the President extraordinary powers, and they wrote teseverad Generals in different parts of the republic to second sucb a movement, which they proposed to make on the 30th of November. It is said this was done without the knowledge of President Comonfort, who persisted in his intention to resign if Congress should not adopt certain measures which he intended to propose as amendments to the com ‘titution. _ ‘ After his installation as President, on the lst of Decem- der, Comonfort became aware of the letters sent to va- rious places by Payno and Zuloaga; but as the necessity for the movement had disappeared, he supposed the matter ‘Would be dropped. One of these letters, however, was returned to@ membor of Congress from Michoacan, whe at once brought forward in that body an accusation againet the writers. This produced a profound seusatien and seriously compromised Zuloaga, who commanded one of the best divisions of the army. It was impossible te remove him from his command, for the agents of Santa Anna were constantly endeavoring to induce them to provounce for him, and a chaoge of commander at that time might have produced the result so much to be feared; his only resource, therefore, was to pronounce against the Congress that was endea- Yoringtoremove him. This he determined to do, and the Preeident was not advised of his movement till afew hours before it took place, and when it was too late te prevent it. In view of the possible course that might be forced upon the army if Zuloaga were not sustained, the great danger of a civil war which would result in turning the republic over to Santa Annaand the reactionary party, Comonfort determined to accept the movement aud make it the means of saving to the republic the liberal reforms that had already been achieved. An effort is now being made, through a frank and clear explanation of these things, to prevent a conflict between the leaders of the Tacubaya movement and those of the opposition, with good hopes of success; yet as the situation of affairs is exceedingly complicated, it is impossible to foresee the result. Santa Anna and tho reactionists con- spire incessantly to triumph over the now divided liberals, and the Puro section of these is laboring to reinstate the constitution. Those arethe political difficulties that now surround President Comonfort, in addition to which be has an exhausted treasury and an unreliable army. You may depend upon the accuracy fof these facts, which I have from the best sources. Secretary Stanton arrived here this morning. The im- telligence he brings is not as late by some deys as that already received. He of course toll his own story relative to affairs in Kansas. He speaks in pretty harsh terms of some of the pro-slavery men and also of some free State men. He says that the returns of the election are so criterion of the vote cast. Frauds are practiced by alt parties. Whev informed that a despatch had been re celved to-day that the pro-siayery men had carried the Legislature and probably the State ticket, he replied thas he bad bo doubt Calhoun would return a sufficient sum- ber of votes to carry the election. Mr. Stanton stands in the same attitude towards the ad- ministration that Walker and Douglas does. He will call ‘on the President to-morrow. He says that Calhoun will be here in afew days with the Lecompton constitution. The President had not, up to this evening, received the enid constitution. It will doubtless be sent to the Presi- dent of the Senate and Speaker of the House in accora- ance with the instructions of the Convention. The President has prepared a messageon the Lescompton constitution, setting forth his views, which will be com- municated to Congress as soon as a call is made upon him for any additional information he may have in reference to the elections recently held in Kansas, ‘The House Committee on Military Affairs are preparing A new bill for raising additional regiments for the army, which will shortly be reported to the House. ‘The Board of Engineers to examine bids for the machi- nery for a steata sloop of war is composed of Engincer im- Chief Archibold, and Engineers Gay, Hunt and Lauter. George Vail, of New Jersey, has been appointed Coasal to Ginsgow. ‘The commissions for the restored naval officers will be issued in a day or two. ‘TWh GENERAL NEWSPAPER DESPATCH. Wasmvotow, Jan. 25, 1868, The Spocia! Committee om Public Printing has authe- rized one of its members, Hon. George Taylor, to opes @ correspondence with printers, paper manufacturers, ea- gravers and bookbinders of the country, with the view ef obtaining all practicable information on those subjects. Specimens of the Congressional work aro to bo deposited: with Messrs, Artbur & Co., of New York. The committee propore either to establich a printing office, or #0 dispose of the work as toobvinte the scramb- ling for it consequent on the meeting of every Congress. The ex-acting Governor of Kansas, Mr. Stanton, arrived here this morning. Francis Tymany, of Missouri, has been appointed agent for the Indians at the Sac and Fox agency. Messrs. Ridgeway and 0. J. Wise have been held to ball in $9,000 each, to prevent further persanal hostilities. Later from Kansas. ‘St. Lov, Jan, 25, 1858, A gentleman from Leavenworth on the 20th inst. arrived here this evening. He reports having travelled from Weston to Boonville with @ messenger bearing despatches from General Calhoun to the members of the Cabinet at Washington; the tenor of which, as derived from the mes- sengor, is, that Genéral Calhoun rejected the returns semt to Governor Denver instead of him (Calhoun), on the ground that in accordance with the Lecompton schedule they are illegal, and therefore void. This gives the State officers to the democrats; also gives them one majority im the Council and two in the House. It is arated that an act had passed the lower branch of the Legisiature abolishing slavery in the Torrtory on the frst of March. Serious disturbances had occurred between the settlers: on the Shawnee Reservation and the Indians, resulting im the death of one of the latter and the conscquont driving Off of all the settlers, and the burning of their houses ama crops by the Indians, " Mr. Stover, a democratic member of the I. been hot in'a betweon tol lanwrteen. It was thought He that he would die. Mr. Henderson was still in custody in Lawrence. —___. Senate. Wasuretow, Jan. 26, 1858, NUMBER OF TROOPS IN KANRAS. The CHAIR presented @ communication from the Seore- tary of War, giving the number of troops stationed in Kam- ‘tas for each quarter from the first of January, 1865, to the Present time. CRSTRAL AMERICAN APTAIRS. Mr. Masow, (adm.) of Va. , from the Committes on Foreign Relations, made a report on Central American affairs. The report réviews at length the whole case, saying in concla. tion — ‘The law of 1704, equally with that of 1818, was founded in wire policy to 6 the peace of the country and maintain amity and amicable relations wit foreign |t denounces its penalties only against those, whether citi- ens or foreigners, who, Within ite jurisdiction abuse preneees Ets waar posed ot onies and = wt! practices, to wage piratical war against nations with whom wo are at peace, and in most cases dishonortng the American flag, used to hield them {® transportation™ Wore auch things tolerated, it would be to commit the pence of the country to evory restless and turbulent ad- ‘venturer, Who, unequal to or disdainful of the sober tole of pence, could find food for his ambition only in the Re conse of the carnage, the rapine and ravages of war, 18 would take the affairs of ome, in our foreign inter- tercourse at least, from tho hands of these to whom they fare committed by the constitution and laws, and lave them under the control or at the picasure of unknown of irresponsible agencies. ‘The report concludes with the following resolutions — Resolved, That no farther provisions of law are neces: wary to confor anthority on the President to cause. arrest and seizures to be made on the high seas for offences oom: so om te Nomraity law of 1818. The commit- in sich power is neceasa terms of the eighth section of that oe Rowviyed, That the placg where Willian Walker ead