The New York Herald Newspaper, August 11, 1858, Page 4

4 NEW YORK HERALD, WEDNESDAY, AUGUST U1, 1858 NEW YORK HERALD. JAMES GORDON BENNETT, EDITOR AND PROPRIETOR OFF1O9 K. W. CORNER OF FULTON aND NASSAU 8TB, FERMS, 0h tm addvesence FHR DAILY SEKALD, 1.0 cots pe copy THE WEEKLY HERALD every Saturday, dopy, oF BS per annum, the Kw Eidition $4 per annum, to ‘part of Great Britain, or 8 to any part of the Continent to molucie portage THE FAMILY HERALD. every Wetnewlay, at four conte per sory, 0° 8 per ann oLuNtan ¥ CORRESPONDENCE, contatning important faves, solicited from any quarter of the world; if used, will be Biberally pid jor. BgrOUe FOREIGN CORRESPONDENTS ARE Panricctaniy Ruavanren 70 Seal All UEFTRRS AND Pack AGxs See7 0s : NO ha ay toe taken id anonymour communications We de return Vejen tes MUDUERTISEMENTS renewed every day: advertucments in pertad on the Weency Henaiv, Famicy Hemaup, and in the ulifernia and Furopean Telitions : JOB PRINTING erecuted with mentness, cheapness and dis- pared : AMUSEMENTS THIS BVENTN BISLO'® GARDEN, Rroadway—Wasr Kp, O8 THE IRISH ‘Barynas—PRoMEnane Conc ERT. BOWRRY THEATRE, Bowery—Ricueriev—Four Lovers —Fortune's FROLIC Wai LAOK’s THRATR.«, Hroatway—O'Fiawmicaw axD tux Faimigs —LoLa Montez —Naw THE GOOD FoR Notun. wees sae brentng, Macro Vewtaoquise ax Cugioatins. WOOD'S RUTLDING, 561 and S43 Sruadway—Erm0riax Bowes, Dances, £0 —Vizcinis WUmmy. MECHANICS’ HALL, 473 Broadway—Brv. —Necuo Mztoors ry Bua.esques—Hor ov Fassion. JONES’ WOOD, Sixty sixth street -Last pay or tae Mau. morta MUSICAL Fustival— Bat UUAMretes, New York, Wednesday, August 11, 1856, Revival of Business—WVast Increase of Circu- lation. During the last few days about fifteen thousand addi. onal sheets have been added to the already vast daily Girculation of the Herarp. This we take to be a symptom of the approaching revival of business in this great metro Polis, Tf the Atlantic Telegraph Line should be successfully es tablisbed, aco the new E! Dorado on Frazer riverturn ‘out to be authentic, there will be s rapid revival of busi Rese throughout the commercial world. ‘We should not be surprise! oder the coming new ra of developement, t ation of the Naw Yorx Hiezaip abould risetoa d. atiob of 150,000, or even 200,000. The past justifies ioe future. Now is the time for fresh men of enterprise to begin their movements. ‘The News. We have from Trinity Bay the very gratifying an- nouncement that the recording apparatus of the Atlantic telegraph would be in working order last evening, and that it was expected that the congratu- latory message of the Queen of England to Presi- dent Buchanan would be transmitted along the sub- merged wire either last night or this morning. Pos- sibly come impediment may arise te defer for a short time the realization of this expectation; but it is not improbable that the message of the Queen, to- gether with the response of the President, will be laid before the public be ‘ore sunset to-day. From St. Johns we have telegraphic reports of the addresses presented yesterday to Mr. Field by the Executive Council of Newfoundland and the Chamber of Commerce of St. Johns, and Mr. Field's replies thereto. They were all appropriate to the great occasion. The Board of Councilmen were in session last eve- ning, and after transacting considerable unimportant routine business, the message of the Mayor, together with the resolutions adopted in the Board of Alder- men, recommending the celebration of the success. ful laying of the Atlantic telegraph cable (which were published in Tuesday's Hema.p), were called ‘up and concurred in without debate, A resolution offered by Mr. Dunn, suggesting the appropriation of $15,000 for celebrating the great event, was laid over. A communication was received from G. A. Lillien- dahl, John street, offering a grand display of fire- works for the occasion, free of expense, and referred to the committee. The Common Council of Jersey City last evening resolved to celebrate the opening of the Atlantic telegraph by firing a salute of one hundred guns, and also to tender the compliment of a public dinner to the captain and officers of the Niagara. A despatch from St. Louis states that a gentleman who arrived at that place on the 9th inst., in twenty- eight days from Albuquerque, New Mexico, reports that Gen. Walker, accompanied by Col. Titus and a force of eight hundred well armed men, had a short time previously passed El Paso en route for Sonora. Another body, numbering four hundred, were met on the Pawnee fork of the Arkansas river, on their way to join Walker. According to the foregoing Gen. Walker was at El Paso about the 10th of July. It is known, however, that he was at Mobile on the 12th of that month. As regards Col. Titus’ move- ments, the last we heard of him he was reported to be in Texas, with some one hundred followers, about to set ont on an expedition, the object of which was not stated. Our European files by the steamship Nova Scotian reached this city from Quebec yesterday morning, but the news contained in the papers had been anti- cipated by arrival of the Pajnce Albert and Arago. We have files from Bermuda to the 20th ult., but the papers do not contain any news items of in- terest. Our advices from Demerara, British Guiana, are to the Ist ult. The wet season was continuing with out any cessation from rain, and was said to be the heaviest experienced for years. The public dinner tothe Governor came off on the 29th of June, and ‘was most satisfactorily arranged. Everything pass- ed off with the utmoet harmony and good feeling. The Mayor returned to the Board of Councilmen last evening, without approval, a resolption adopted by the Board, authorizing the Eighth Avenue Rail- road Company to connect their track at Chambers street with the Hudson River Railroad track through certain streets; also, a resolution directing the Croton Aqueduct Board to advertise for proposals for the paving of Wall street with Lyon's patent pavement. The Corporation Counsel is of the opinion that the ordinance recently passed by the Board, proposing to compensate the members at the rate ef eight dollars a session, is illegal. There being no quorum last evening at the Board of Supervisors, the meeting was adjourned to Wed- nesday, (this day,) at three o'clock. A meeting of the members of the Bench and the Bar will be held this day, at twelve o'clock, M., in, the General Term room of the Superior Court, give expression to their feelings on the demise of Chief Justice Duer. It is expected that four or five eulogies will be delivered by members of the profes- sion. The funeral will take place at two o'clock, from Trinity church, Broadway. ‘The charge of the United States against Thomas Riley, Daniel Murphy and Robert Murphy, stage drivers, for passing counterfeit coin, was commenced yesterday, before Commissioner Newton, at his office, in Wall street, and adjourned toa future day. The charge against Antonio Farritano, for a similar Offence against the United States, was also com- menced and adjourned. At a meeting of the Commissioners of Health yew terday, a communication from the Health Officer waa read, recommending that the bulks of old large ships be anchored at the Quarantine, for the storage of cargoes of infected vessels arriving at this port. The recommendation was concurred in by the Board, and the Mayor was empowered to carry out the sugges. tion. Charles Molloy waa tried in the Court of General Sessions yesterdag”for assaulting Jahn Rice with an axe, intending to kill him, and was convicted of as- sovlt and battery. He was sent to the penitentiary for oe year. Samuel Buokbaam was convicted of Gal... 5 Clara Colbang with a knife, and was seat te AMERiO4S MUS#UN, Broséway—arer- ants’ MINSTRELS the Btate prison for three years. Richard Clark pleaded guilty to forgery in the fourth degree, he having endeavored to pass counterfeit money. The Recorder sentenced him to one year’s imprisonment in the penitentiary. Mathew Sears, jointly indicted with two young men for burglary in breaking into the premises of John Ray, of Christopher atreet, was convicted of petit larceny and remanded for sentence. Patrick Corrigan, guilty of petit larceny, was sent to the city prison for three months. The rales of cotton yerterday were restricted to some 800 a 400 bales, without change of moment in quotations. Common grades cf Siete and Western brands of flour ‘wore plenty and without cbapge, while extras were firm. er, Sales were made to @ fair extent Wheat was firm and tn good demand) with eales of some 05,000 buebeis, at prices given in another column. Cora was rather lower, bus active, at 70¢ @ 7c. for heated Western mixed, and 78¢ & B6c for sound do ,and Bbc. for Soath. orn mixed, 860. for Jersey yellow, and 980. for Southern Co. Pork was quite active, with sales of mess wt $17 60 and prime at $14 85, and at the close $15 was asked Sugars were lower, with sales of about 800 hogeheads Cuda, closing at about 0. a 30. below ths highest point Of previous sales. Coffee was dull; the calef transaction consisted of the public sale of 26000 bags, mostly com- Mop qualities Rio, at 940. a 125 —average about 9-736. Freight room to Liverpool was limited, while engage nents Continued to be light and rates without change of mo- moat The New Government Loan—Wrhat the Com- petition for tt Shows. The opening of the bids on Monday last for the new United States loan of ten millions of doilars reveals the existence of some curious and instructive facts in our financial circles. The first point that strikes us on examining the list of bids is the discordance of opinion among the leadiag financiers as to the market value of a United States five per cent loan with fifteen years torun The next point is that our domestic bankers have a higher and more hope- ful estimate of the market value of the stock than that entertained by the foreign bankers and those who are generally supposed to hold intimate relations with parties in Earope. Bel- mont and Riggs offered to take the entire loan at 3.77 premium, Rittenhoase & Co. proposed to do the same at 3, and eome of the German bank- ing houses bid from 2.5 to 4 premium. The award of the loan has been made at an approxi- mate average of 4.85 premium, mostly to parties who are supposed to want it for domestic investment. The amount of the bids was for about four times the sum required; and we believe this is the first time that American capitalists have ever taken one of our government loans, to the almost entire exclu- sion of foreign bankers, by outbidding them; and the fact leads to some curious reflections. The reason of this may be attributed to two causes: First, the great increase of capital among us, and its concentration without em- ployment at the centres of trade. Second, the dis- credit of industrial enterprises managed by cor- porate associations as safe investments, We are inclined to believe that the latter cause has had more to do with the unexpected high premium at which the loan has been taken than any other. The accumulation of money in our bank vaults is more owing to the temporary stagnation of trade, and its want of employment in that di- rection, than to tho accumulation of. capital among us. Yetthere is no denying that money has largely increased in abundance among us during the last ten years, while the facility of procuring it has tended to stimulate the spirit of extravagance and bad faith that has charac- terized many of our industrial associations. ‘To this latter reason do we attribute the evi- dent increase among us of that class of capital which seeks safe investment rather than ahigh rate of interest. The fraud and deceit which the recent financial revulsion has shown to exist, both in the expenditure of capital and the payment of exorbitant and unwarranted dividends, have disgusted a large portion of the minor capitalists, and turned them in an espe- cial manner from investment in railroad securi- ties, Perhaps to the same cause may be at- tributed the apparent anomaly that some of our State stocks command high premiums in the market, while others paying the same rate of interest are below par. Public confidence in these State investments does not increase so fast as does capital; and the consequence is that a few favorite stocks command premiums to which they do not seem entitled by any pre- eminent merit. It is no doubt the pressure of this confidence upon our domestic bankers that has placed them in the foremost position as bidders for the new loan, to the great surprise of Wall street. Each has found in the circle of his customersa portion that prefer United States stocks at five per cent interest to State or asso- ciate securities at a much higher figure; and it is the aggregation of these in separate bids for the public loan that has shown the tone of the public mind. The euppotition that is generally entertained— that the government will come into the market for the rest of the loan authorized by Congress— had, no doubt, an effect in keeping down the rates of premium bid for this one. Had it been definitely known that Mr. Cobb will not require the rest of the amount authorized by Congress, the rates of premium at which the present stock would have been taken would have been much higher than those obtained. We now believe that the prices of this stock will feel the effect of the fact so palpably put in evidence by the offer of forty millions of dollars when ten only were required; and that should the Secretary of the Treasury find it necessary to put the balance of the authorized loan upon the market he will find takers for it at a considerable advance on the present rates, Tom Conwiy vs. Tavrtow Weev.—Hon. Tom Corwin, the great gun of the republicans of Ohio, bas lately made a speech, in which he thinks that a fairly adopted slave State constitu- tion should be no bar to the admission of a new State; while Thurlow Weed, the whipper-in of ‘the republican party of New York, declares that they can only stand upon their old platform of “No more slave States, no more slave territory.” This disagreement is the work of the Lecompton question in Congress, and of the divisions it has engendered in the general opposition camp. The St. Louis election was the first practical beginning; but the end will not be reached till 1860, and then, perhaps, we shall find the Seward faction reduced to the vote of Hale in 1852. Kanras being substantially played out, the in- evitable reaction must run its course. Tom Corwin understands it. IvrernationaL Covrrestes.—The fourth of August, the day that the Niagara entered Trin- ity Bay, Queen Victoria visited Cherbourg at the invitation of the Emperor of France, to at tend the imperial fétes there. Thus, her greet- ing to the President of the United States was in the hands of onr Minister in London while the hervelf was receiving royal hospitelities at the hands of the Fremoh Emperor. These inter- national courtesies tend to cement peace, while ft the rame time their aimultanvity are matters ‘ Of garigus yvlugidenge, ° Wi tbe Atiaatic Telegraph Pay? Now that all uncertainty as to the effectual leying of the submarine telegraph is diapelled, the next great question asked on ali sides is: Can it be operated with ¢o much rapidity as to make it a paying institution? So far as experi- mepvts bave gone that problem etill remains an- solved. But the difficulties that haye bez alreedy overcome give aesurance that whatever present difficulties may present themselves to the instantaneous transmission of messages from coutinent to continent, they will be in like manner euccesefully grappled with aud over- come. While the cable that wae diecharged from the Niagara and Agamemnon after the failure of the first attempt was lying at Keyham, an ex- pensive eeries of experiments was tried to as- certain the velocity with which words could be tranemitted through it. These experiments were conducted by Mr. Whitehouse, the electrician of the company, at an expense, we believe, of some $100,000. The result was not very en- couraging to the prospects of the company. It appeared that but seventeen words in eighteen minutee—or, say a word a minute— ccu’d be effectually transmitted. By the appli- cation, however, of Hughes’ instrument, that rate of transmission was quadrupled. Subse- quently, according to a report then published in the London Times, Mr. Whitehouse succeeded in sending five words per minute through 2,200 miles of cable, and expected that eight words could be transmitted with ease and certainty. Whether the result so stated to have been at- tained, or that expected to be attained, was or will be actually realized, is somewhat doubtful. We incline to the belief that there has been considerable exaggeration indulged in] some- where in regard to these experiments. We do not think tbat Mr. Whitehouse ever succeeded in sending five words per minute through the cable at Keyham; and it is a question whether the submersion of the cable at the bottom of the Atlantic ocean will expedite or retard the passage of the electric current. On this will depend the answer to the ques- tion: Will the Atlantic telegraph pay ? If the average rate of transmission by the English instruments should not exceed one word per minute then it could not at the tariff pro- poeed be a very profitable concern. Assuming that the line was kept constantly operated for the whole twenty-four hours of a day, and that the tariff of priceswas a dollar per word, charg- ing for address, date, &c., the gross receipts would only amount to $1,440 per day, or a little over half a million a year. But as it would not be likely to do more than half that amount of business, the receipts would probably reach no higher than a quarter of a million a year, which would leave only some $70,000 above the in- terest of the capital invested to go toward sa- laries, expenses, wear and tear, &c. So that at that rate of transmiasion and that tariff the line would be very far from proving remunerative to its stockholders. If, however, by the use of the Hughes or some other instrument yet to be invented, the rate of transmission should be as high as five words per misute, the grosa annual receipts, at full work, would be two millions and a half a year, and at half work a million and a quarter ; or, not charging for address or date, say a mil- lion dollars a year. It is needless to say how immense the profits to the stockholders would be, even at the lower of these two computatione, when it is recollected that there are but two offices to be kept up, and that there will be no expense arising out of repairs. The maximum rate of transmission the submarine line be- tween Europe and is only four words per minute ; and that rate can be attained by but one operator. With the rest, the rate is from two and a half to three words per minute. Should it turn out that from the immense preseure on the cable, or from the use of inefli- cient instrumente, but one word per minute can be transmitted over the Atlantic telegraph, then the company might see itself compelled to fix the tariff at four or five dol- lars a word—no definite arrangement having been yet made on that point Let messages be transmitted, however, at the rate of five words per minute, and the receipts of one year will be equal to thirty-three per cent of the capital of the company. We presume that one of the next movements in connection with the subject will be the ex- tension of the line from Trinity Bay to New York, by the most direct route over land and under water, or else the laying of another line direct to this city from Europe. The necessities of commerce will soon lead to such a move- ment; and we hope that Mr. Field will be one of the first to give the matter bis attention. A Trirartite Treaty ror Ineiaxp.—Now that Ireland has become, by the establishment of the Atlantic telegraph and the Galway steamship line, the highway of nations between the two hemispheres, it becomes of the utmost importance that her government should be fairly and impartially administered, and that no one nation ehould have exclusive jurisdiction over the island. Great Britain has now both termini of the great telegraph on her domi- nions. It is not meet that che should have this power, She ought to be well satisfied with having the exclusive control of one of them, and should be content to place the other under the joint protection of the other great Powers. We therefore propose that Great Britain, France and the United States shall enter into 8 sort of tripartite treaty in respect to Ireland similar to that proposed in respect to Cuba a few years ago. Ireland must be either neutral or independent. Tus Romp or THe Kyow Normyo Party.— Here, there and everywhere, throughout the State, it appears the remnants of the late great American party are busily at work trimming their lamps and lanterns, and electing their delegates for the State Council which is to come off at Albany on the 24th instant, What they are driving at and what they will do nobody knows; but from the furious war which has been lately waged against them by Thur- low Weed, the Chevalier Webb and the poets of the Zvening Post, we think there is a very good prospect for a separate Know Nothing State ticket for November. The terms upon which the Know Nothing managers have offered to sell out to the republican party, to wit—the rejection by that party of Seward, Thurlow Weed and the nigger platform, and the substitution of Mr. Crittenden, Booby Brooks and the Crittenden amendment—having boon ig- nominiously kicked out by the Seward Albany Junta, what else cam the ineulted “Amoricans” do than to reorganize their own camp, and fight ft out with Seward to the bitter ond? We count upon that plan of operafions, Let the Albany Council be {wily ateended. Ecglish Views of New Caledonis—The Truc Belations between America and Hagiand. The Britich journals acd politicians are meking much ado over the question of the new colony at Frazer river, iu a sense in which it will never be brought up before them for judg- ment, and they may set their minds at ease on that ecore, Mr. Secretary Bulwer looks forward to the building up there of a rampart againet the en- croachments of the United States; Mr. Roebuck favors the early developement of the new colo ny, in order that it may not only be a counter poise to this country, but eventually over- shadow it. The London Times sees dacgers, ware and conflicts in the new colony, and is therefore a convert to the idea of leaving it a little while longer under the tutelage of that excellent and sprightly institution, the Hud- son’s Bay Company. But the hopes of Bulwer ‘and Roebuck and the fears of the Tivics are alike fallacious. There can be neither a ram- part nor @ conflict between the peopie of British North America and those of this Union. A con- test, it is true, has been going on for years, but it is a mutual contest for the destruction of Cus- tom Houses, restrictive tariffs, aud the thousand and one barriers which governments are accus- tomed to erect between peoples. K isa con- test, also, for the constraction of railways and canals, bridges and viaducts, so that the inter- transit of passengers and merchandise may be speedily and cheaply effected. A-similar contest to this is what is already growing up in our Northwestern States and the territory lying on the banks of the Saskatche- wan river and itsneighboring lakes. The epirit of emigration to that region is awakened, and it will soon pour in there a flood of humanity. New lines of trade will be opened, new sources of production and supply will be developed, and a people having a common origin anda kindred tongue will grow up on both sides of the imaginary divisional line running along the forty-ninth degree of latitude. The only conflict will be that between sister cities, to de termine which can most advantageously supply the growing wanta of the new empire. If go- vernment, either in England or in this country, dreams that there is aught else in the future than amicable relations between the two peo- ples, it will find itself greatly mistaken. A thousand facts, which it is not necessary for us to enumerate here, point unmistakably to the opposite result. And it is not alone between the American people and thore of the British provinces of North America that this feeling of sympathy and union is existing. With the people of England, Ireland and Scotland the same sym- pathetic bond has also grown up. An incontro- vertible proof of this fact existsin the feeling which is now being exhibited threughout the length and breadth of this land. What else means this universal joy at the successful laying of the Atlantic telegraph? The universal ac- tien“of the people of all classes; the hanging out of banners, exhibition of transparencies, illuminations, addresses, prayers in churches, congratulations everywhere; the voices of the prese, the pulpit and the rostrum, all breaking forth epoutaneously, and before any public au- thority whatever has moved on the subject, tell the fact with a million tongues. It is not that every man experiences the hope of a material advantage from this great event; indeed, no one can foresee the effect it will have upon trade and material interests; but every man fecls a moral satisfaction in the conviction that by it he is drawn into closer communion and contact with a great people beyond the ocean, who can and will understand us. Men like Palmerston and his egotisti- cal school may think that the inte- rests of the two nations are antagonistic, and that it is the duty of government to claim fanciful rights for self-protection, or to guard honor. But this is not the truth. The two nations are as identified in interests as they are in language, and should have a common policy, as they have a common literature. Neither people have a wish to infringe upon the other in any way ; they have no points of honor to stickle between them ; andif their respective governments cannot comprehend this great truth, the lar will will sweep them away, and place in their stead menwhocan. This feeling has been strongly exhibited by the peo- ple in England on the occasion of the an nouncement of the settlement of the recent appearance of difficulties with this country. There were and are no difficulties between the two peoples. It was the quixotic action of Palmerston alone thet interfered between them; and had not the French imbroglio swept him from power the American irritation at his course would have done so. Bulwer and Roe- buck must learn that no ramparts can be built now between the American and British people ; and instead of building up counterpoise to the United States in New Caledonia we will help them to build up another empire to be bound with the Atlantic cable of fraternity and concord. , Tar New Carnouic Caruepran on Fret Avenve.—The corner stone of the new Catholic Cathedral on Fifth avenue is to be laid on Sunday next, by Archbishop Hughes, with great pomp. This will probably be one of the most imposing ceremonies ever witnessed in this country. The Cathedral is designed to be the most superb architectural structure on the American continent, vieing in dimensions and beauty with many of the old cathedrals of Europe. Its cost is to be enormous—some million and a half of dollars, we believe. The Cathedral—if it is ever finished—will be some- thing that New York can boast of; but we trust it will not be quite 90 long in process of erection as the Cathedral at Cologne, which was commenced some four hundred years ago, and is still incomplete. Wo look to Archbishop Hughes to ree it completed as soon as possible. He ehould not be content with the honor of lay- ing the foundation of this magnificent church in his own lifetime, but should spare no pains to plant the cross upon its highest turret, This would be, indeed, securing a full measure of Lage mote fame for his name and the term of episcopacy. Tue In.iv01s Campatay.—The Illinois Doug- las campaign appears to have revived throngh- out the State the electioneering furore of 1840. At Hillsborough and at Grenville Mr. Douglas had adressed the people, and at each place the amemblage, according to the Chicago Times, consisted of a turn out on masse of the whole earrounding population for many miles— men, women and children—as to a great camp meeting. And yet, with all the energy exhibit ed by Me. Douglas, and with all the énthusiaam and curiosity which his pecullar position has excited, it must be evident to the most eperfi- cigl politician that hie case, as it stands, is hopeless. With whe opposition united against him, and with a bitter division in bisown camp, what else can he expect but defeat? But he may be laboring for a side movement in 1860, & la Van Buren; and then he may possibly come round all right by November. His case is a most important one, and one way or the otber will have an important effect upon the campaign of 1860. He is eaid to be softening down ; and much may be done by November. “TEMPERANCE AND FreEDOM’’—Gererr SMtra Accerrs.—We spread before our readers this morning the ecorching pronunciamiento of Gerrit Smith accepting his nomination for Governor made by the new party of “temperance and freedom,” at their late State Convention at Syracuse; and this remarkable letter by this extraordinary man will be found well worthy « eareful perusal by all the parties concerned in the unexpected eide issues thus presented for our November election. Mr. Smith, in the outeet, talks of this “tem- perance and freedom’ movement with great confidence. He eays that it ‘is already so ex- tended,” from ita “bumble orjgin,” that “it is seen to be spontaneous,” and he pleads that the party concerned have acted wisely in being firet in the field. He denounces “the spurious demo- crate,” “glorying in their wickedness,” who “declare their sin as Sodom, and hide it not,” and as @ party which “atudies every way for degrading, outraging and crushing the black man.” His bill of specifications against this party on account of Kansas, slave ships, Dred Scott, the African slave tradé, d&c., is perfectly awful; and, to cap the olimax, he says that “rum, no less than slavery, is the chosen and cherished ally” of “this democratic party.” Next, Mr. Smith overhauls the native Ameri- can party. This party “does not intend to go for slavery,” but “it does not go against it.” “It is not the liquor drinking, demoralized and demoralizing party that the democratic is,” but it is too intolerant and proscriptive against those “who come to us from other lands,” and that is “the reason why our reformers cannot harmonize with it.” In the third place, the bulk of Mr. Smith’s letter is levelled at the republican party. He has a great liking for it. He believes the masees of the rank and file are sound, but that the policy of the party on slavery and rum has been cramped and dwarfed by the counsels of unworthy leaders. Finally, Mr. Smith accepts this independent nomination with a, proviso; for, sayshe, “I expect that you will drop my name should any one of the parties nominate for Governor a man on whom you can rely for such services as you are secking at my hands”— that is, the nullification of the Fugitive Slave law and the extinguishment of rum drink- ing by a compulsory law of total ab- stinence. Nor does Mr. Smith despair upon this point. He thinks that the Temperance Convention may possibly come up to the mark, “so may the Republican Convention,” and “ possibly the Native American also.” “These parties may be restrained by foolish pride from concurring in your nomination ; but nothing of that will restrain you from concurring in theirs.” Temperance and freedom being every- thing with Mr. Smith’s party, he closes by tell- ing them that “your votes are ready for any man, of any party, whose election will be most likely to serve this object most efficiently.” This proviso still leaves a margin for an ac- commodation between Mr. Smith and Mr. Se- ward; but the latter, as we have shown, has other fish to fry; and he will, we are afraid, fail to bring up the Republican State Con- vention to Mr. Smith’s ideas of “temperance and freedom.” In that event, Mr. Smith, to be consistent, will be compelled to stand his ground; and, in view of this contingency, he would do well to prepare for the active work of the campaign. The Seward politiciang have had quite enough of temperance upon compulsion; and as for the Fu- gitive Slave law, their session of 1852 upon that subject is not likely now to be disre- garded in view of the campaign of 1860. The only way, then, in which Mr. Smith can bring to the test his radical notions of “ temperance and freedom” is to stand his ground. Thus, though he may fall short of positive success in November, he may disclose a balance of power sufficient to control our next State election. Every great movement of reform must have a beginning, and must make some show of active strength before it can expect to achieve any po- sitive results. Tue Prorerty or Tax Hupson’s Bar Com- rany—Our Washington correspondent lays before our readers this morning a very in- teresting document relating to the property of the Hudson’s Bay Company in the vi- cinity of Frazer river. The propositien now being made to the United States govern- ment by the company to sell their lands and poseessory rights there is not made for the first time. In December, 1852, Sir Goorge Simpson, on behalf of the Hudson's Bay and Puget’s Sound companies, offered to sell to this govern- ment, for a million of dollars, their seventeen establishments, with all their rights and posees- sions. According to the valuation of the com- pany, these were worth two million three hun- dred and thirty-three thourand dollars; but they were so convinced that the efforte of the companies to secure their treaty rights, and of the United States officials and settlers to restrict them therein, would prove a source of continual strife, that they were willing to sacrifice them for a million dollars. The memorandum of Sir George Simpson to this effect, and furnishing a detailed statement of the value of all the diffe- rent divisions of the 5 \. day, and we think it fom pony amie of tame. mation on majeet not very well understood A New Watxer Cananv.—Some enthusiastic filibuster in the West has invented a marvellous story, that Gen. Walker and his}filibusters, to the number of eight hundred men, all mounted and armed to the teeth, had passed the town of El Paso, on their way to Sonora, some time about the beginning of July. This story pre- tends to come from a Mr. Cronin, who also met four hundred more filibusters on the Arkansas river, and some twenty thousand Indians on Pawnee fork. Mr. Cronin’s wonderful story of crowds of filibusters and Indians has all the marks about it that the boy’s story had, who told his father that he had seen more than fifty cate in the entry. The boy’s wonder was out down to “our cat and another one,” and so we suspect will Mr. Cronin’s etory be out down. Gen. Walker on the 12th of July was in Mobile, from where ho went into the interior of Alaba- ma on his money raising tour. He has ro- pentedly refused to have anything to do with Mexican affaitm; and as for his being joined by Gol. Titus, not only is he not on good terms with this individual, but the last we heard of Titns he was on his to the new gold wings at Frazer river. ° telegraphic trom St, Louie ie, tuyagtore, pury buabug. THE LATEST NEWS. Hen-Arzival of the Steamer Niagara. Hairax, August 10—9 P. M. There are as yet no signs of the Cunard steamship Niagara, now due at this port with three days’ Inter news from Europe. Weather oalm and densoly fe le — Exaven o'Oxoce P. M. © The weather still continues very foggy, and it is unlikely that the Cunard steamer from Liverpool will arrive to-night. Salling of the Europa for Liverpool. Boston, August 10, 1868. The steamship Europa sails from this port for Lee verpool via Halifax at noon to-morrow. Her mails close at 9:30 A.M. All despatches handed into the telegraph, No. 21 Wallstreet, New York, 60 as te reach here by 11 A. M., will be promptly forwarded. Our Special Weahington Despaton. PRESIDENT BUOHANAN’S MOVS®MENTS—SsO@ErART TOUCHY ON HIS THAVSLS—BBPOKT OF THE ORD- NANOH BOARD ON BRESCA LOADING FIREARMS, BIC. 5 Wasarxcron, August 10, 1858, It fs stated this afternoon that the President, who was expected to arrive in this city to-morrow, not come till Thursday. Advices from Bedfi Springs represent that he is much gratified at the result of the Missouri elections, especially the defeat of F. P. Blair, Jr. Toucey left for Connecticut this morn- ing, with his family, intending to epend the night in your city and proceed to New Haven by the morning train, and thence to Hartford to-morrow evening. He intends being absent about a month, and will pay visits of inspection to the Northern navy yards previous to his return. Mr. Charles Welch, as chief clerk of Navy Department, is appointed acting Secre- tary during his absence. The Ordnance Board appointed by the War De- partment to test breech loading firearms at West Point, have reported favorably of Burnsife’s gun, The report intimates that none of the arms were e4- tirely satisfactory, but concludes with a recommea- dation for a further trial of Burnside’s, Judge Black has not been able to attend person- ally at the Attorney General's office for some days. He is not seriously indisposed. ‘THE GENERAL NEWSPAPER DESPATCH. Wasaineron, August 10, 1858, The Secretary of the Treasury has awarded two millions of the loan to Robbins & Sen, although that house stated by telegraph that they wished to reduce their proposals to one million. The Secre- tary acted on the principle that nothing but sealed proposals, to be first opened by him, could be coa- sidered. One of the bidders of a premium of five per centum telegraphed offering five-and-a-half for twenty thousand, but the Secretary would not con- sider the telegraphic despatch, and made the award at five per centum. This loan, at one hundred and eight paysthe same interest as the government six per centum loan at one hundred and fourteen-and-a- half. In addition to what was stated yesterday, all bids above 4 12-100 are successful, and all at this rate obtain a portion of the amount bid for. The aggregate bids were over thirty-eight millions. The stock is quoted here to-day at 106. The Secretary of the Navy left bere this morning for Connecticut. He will be absent about three weeks, and will, before his return, inspect the navy yards. Chief Clerk Welsh is acting as Secretary. From present indications it is supposed at the Navy Department that the Paraguay expedition will start by the fit of October. __ Are they Filibusters? A LARGE PARTY OF MINERS OR FILIBUSTERS OM THEIR WAY TO SONORA. Br. Louis, August 9, 1858. Mr. Cronin, who arrived here last night from Albuquerque, in a twenty-eight days pamage, re- ports that General William Walker, with a large body of filibusters, had a short time passed Paso en route to Sonora. His force amounted to eight hundred men, all mounted, and armed with minnie rifles and Colt’s revolver. They had also eighteen field pieces. Colonel Titus, the Kansas hero, joined Walker at El Paso. Mr. Cronin met another body of filibustem on the Pawnee fork of the Arkansas river, on their way to join Walker. They numbered nearly four hundred men, and were all mounted and thoroughly armed. Mr. Cronin also met, on the Pawnee fork, from ten to twenty thousand Indians, who were mceiving their annuities from Colonel Burt. (We give the above report as received. Accord- ing tothe time mentioned the party were passed before the 11th of July. Gen. Walker was in Mobile on the 12th of that month.—Ed. Hera.) News from Utah. Sr. Lovis, Anguat 10, 1858. A despatch from St. Joseph, dated the 7th inst., per express to Booneville, says the Salt Lake mail has arrived. Brigham Young, Orson Hyde and Heber Kimball had returned to the city. Capt. Dickinson, Quartermaster of the Army, had issued proposals for timber and materials for build- ing a fort in Cedar Valley, which when completed will be occupied by Gen. Johnston, in command tof the Tenth Infantry, Phelps’ battery and Second Dragoons, as the headquarters of the Utah forces. ‘The Sixth Infantry had been ordered to Oregon to reinforce Col. Steptoe. The volunteer battalion, under command of Col, Bee, left on the 19th ult. for Fort Leavenworth, where they will be mustered out of the service. Peace Commissioners en route to Wash- ington. Sr. Lovis, Angust 9, 1858. Governor Powell and Major McCulloch, the Utah Peace Commissioners, arrived here last night, and proceeded east in the early train this morning. Robbery of the Hatters’ Sank, of Bethel, Ot Briporrert, August 10, 1858. The Hatters’ Bank, of Bethel, Conn., was entered and robbed, between Saturday night and Monday Morning, of $6,000 in specie, $1,300 in bills of other banks, and $78,000 in bills of their own issue. The entrance was effected through the bottom of the vault, The rcbbery was not discovered until last night on ac- count of the inability to open the vault yesterday. The officers caution the public against using the bills of the bank at present. Republican Nomination tor Congress. Saco, Me., August 10, 1858. The Republican Convention for the First district assembled here to-day, and nominated D. E. Somers for Congress. i Dinner to Governor Chase, of Ohio. ' Bostrom, August 10, 1858. Governor Chase, of Ohio, received a complimen- ' tary dinner at the Parker House, yesterday after. » noon, from the leading republicans. Governor Banks presided. ‘ The Yellow Fever, Boston, August 9, 1858. The bark Hebron, at Quarantine from New Or- leans, had one death on her passage, and four of her crew have been sent to the hospital. ; Bark George Leslie arrived at Quarantine today, with yellow fever on board. arrived at Quarantine. Reports July 23d Harvey ‘ M. Devine, of Newburg, N. Y., died of yellow fever. a Bavannan, Aq 10, 1 The United States mail steamer Frorida’ ~- av we from New York to her wharf. All ‘ Savanwan, A 10, 1998. ‘The serew steamship Montgomery, of Cromwell's \ line, arrived sie this day. a sag |AWLRBTOW, A 10, 186% ‘The sosew ‘Atlanta, Lay arrived at 10°A. M. this day,” Crommed's line, Burning of the Steamer Edward Manning. Sr. Louis, Anguat 10, 1968. ‘The shames Edward Manuing gangs axe a)