The New York Herald Newspaper, May 12, 1859, Page 6

sia balcane coach 6 NEW YORK HERALD.! JAaHse CLKYOR FBHAAKBE, KOLTOR AND PROPRIETOR, maintained at £18 10a. to £13 Li. per leaguer, there being buyers at the former quotation, While for the | little for sale sellers refuse to accept less than the | latter. Freights to London are 8 last quoted, 25% for cocoanut oil, 408, for coffee n casks, 20s. for OvPLUs A. W, COSMAS OF FULTON AND MadsaU STS |, in bags, and 368. for cinnamon. PBRMS, cash im acdownce Money cent by mat setlt be wt the rich of he sender, Pemags Mampe not raceioed ue sahmorspear THE DalLY HERALD. moo conta per TUR WEEKLY DERALD, swery Satur: oF BS per annum . Buropaun Edition every Vets Ft fey woo the Continent, hath tt ade ont art 3 rs itm "WA of nach (ak wks cal 08 ane PME FAMILY HERALD, om Wednawiay, at four cons por | gh allan we have advices from Havana to the 8th inst., but omoLunta| Foe ee ecto; Wand wilte | they contain no general news of interest. The for, UK Fonmian Oorernue aun Paus. | GF Market was quiet, with a stock of 328,000 boxes Agee on band, ee fiona . wedowct | “The steamer Southern Star, of the Paraguay ex- eure i ccrmarnsicatome r " eT eet rahe Wasad, und om ta | PCdition, arrived at Norfolk yesterday. She left owes re Burbadoes on the 30th ultimo. The supply of bread- Necessary Prropean Fditions | pe PRET Oe OR — | stuffs at that place was light; molasses had ad- EE svanced, while staves were dull. The health of the island was good, but the crops were suffering for lack of rain. Tho telegraph announces the arrival of the Ten- nessee, from Vera Cruz, below New Orleans. It is stated the news from Mexico is unimportant. The Southern Commercial Convention organized at Vicksburg yesterday. Resolutions, offered by a | delegate from South Carolina, in favor of the re- opening of the African slave trade, were vehement March, Sugar and hemp were a shade higher, and dealers cautious in making contracts. Exchange on London 4s. 2d., six months sight, first clasa bills; reigns $476 each, Freights, £1 for sugar, and ‘8. 6d. for hemp. the arrival of the Empire City at New Orleans 8) per unnooe see. E31 | AMUBKMENTS THIS EVENING, NIBLO'S GARDEN, Broadwar.—Ros Ror. BOWERY TRKEATRE. Rowery.—Kawenatpi—Way Don't See Kacy !—Fous Bisreus—Waxpeaine Minstegss. METEOPOLIVAN THEATRES (late Burton’s).—Loxoon sholl not exceed ten per cent, Cocoanut off is | The Unienshing of the Mations—Pnilosophy Assyesxoa, WaLLAUE'S THEATRE, Broadway.—Tas Worvsn— Brvisw. LeURas KEENE'S THEATER, No, 684 Broadway.—Miv- Sowens Nigar’? Dasae THEATRE FRAWO4TH GS Broadwav.—La Corps San- SipLa—Js Dine Cusz Ma Makino Fouss Dkawatiquas. ‘M. Broadway.—After. | BARBUS AMERICAN EUSEU! a Kreaing— OUR | non —FONs OF THE KEroBC—Harey Man tuam Cousin WOOR'S MINSTREL BUCLUING, O61 and 863 Broadway~ sax Bones, Daven, £0.—Ganii or Tus Lake. SRIANTW MINSTRELS, MECAANIOS' HALL, 427 Broad: wey —MaaK0 Kons, £4. —S1YLOCK, ATHENS ZUM. Brooklyn.—Testiwoniat Conceat 10 Ma, AL Janta, slay, May 12, 1859. New York, ‘The Sews. ‘The Kangaroo and Persia, from Liverpool on the ‘37th 30th ults. respectively, reached this port yesterday morning. Our files contain the details of the important war news telegraphed from Quebec and St.Johus. Ail doubts of the passage of the Ticino by the Austrian troops are at an end, as the organ of Lord Derby in London acknowledged, at the last moment, that one hundred and twenty- three thousand of them had passed that river. Four thousand workmen were in advance of the French army of the Alps, engaged in clearing the Way for the soldiers, as the first division experi- enced a little difficulty in crossing Mount Cenis, in their march to the grand rendezvous at Souza, on the Ttalian side of th ains. It was thought that the Austrians would endeavor to engage and crush, by superior numbers, the Sardinian army before the h force had united with it. The revolution in Tuscany was com; m the capital. Parma France and Pied tho: nce of betwee a excitement in Eng to enjoy a neutralit of “ moral force” de into an acti st ‘The report of the debates in the French Legisla- ture on the new Joan and the increase of the army, given elsewhere, will be found very interesting, as will the copies of the most important of the various State papers which we publish, together with let ters from our correspondents in Paris, Berlin and London. The effect of the war news by the Kangaroo and Persia on commerce and financial affairs continued to be felt yesterday. Both Continental and London 7 concluded ed the utmost ountries wishing was to make a sort | work of the exchange, as usual after the departure of a steamer, was quiet and nominal, but very firm, and especially so for the former. A sale of guilders was nade at 42 net. Private letters received from houses in Liverpool stated that, in case indications were strengthened, the war, should it occur, would be confined to Italy or to the Continent, and England stand aloof, a reduction might bo expect- ed in cotton and other products. The Persia brought out advices countermanding Some orders for the shipment of produce to the Horth Sea until sffairs on the Continent could become more definitely settled. Up to within the latter part of April cotton was sustained with con- fidence in our market, and its value was not fously influenced either in Liverpool or on this side by rumors of war, balanced as they were by reports of the early convention of a Congress for the adjustment of differences, But when known that Austria had refused to join the C; on (erms proposed by the other Powers, c the Aus for th I ns had crossed the Tici > during th beca’ late condition of the fore | are not as yet fully ma‘ | that they do not inten sponded to in all the ports of t the time sales to a great extent h pended. And this, notwithstanding th | in receipts, the occurrence of | and floods, which in former seasons would heve wrought a decided influence on the mark: eipts of cott 3, in excess of 1856 000 b. crease bales bales, and the total rec The total pts to A fortunate fe ature nse di n The speculative fey erday, and wit e market adyanced from 10¢ rel, and in vanced from Je. to 1 figure. mand. ptorim small - 206,156 cwts. 4 tive, msking a total of above ve-scls are bound a sation of deraand for native colfee continues, end the article has, during the past fort } hight, been on offer to a small extent at 35s. and } (6s. per cvwt., unpicked and undried, with the con- | Chicn tat the black, brown, &e., coffe and gravel for London. rood de- | ,, ly opposed by Gov. Foote, of Mississippi, who de nounced the sentiments ef the South Carolina gen tleman as high treason. The Governor declared that it was the duty of the government to acquire Cuba, and gain a preponderating influence on the Isthmus. Resistance to the administration ofa re” publican President was proposed. The Board of Education held a special meeting last evening. They adopted a resolution authorizing the school officers of the Fourth ward to lease the Friends’ meeting house in Rose street for a school house, at arent of $2,800 annually. The Finance Committee reported the amount of the special ex- penditure of the Board since their last report to be 06. The committee also offered a resolution nding a resolution recently passed, appro- priating $14,000 for the purchase of a school site in ‘Twentieth street, because the site which it was in- | tended to purchase cannot be obtained. The reso- lution was adopted. An appropriation of $15,200 was made for paying for the carpenter and mason ew school to be erected in Broome street, near Clinton. At the meeting of the Commissioners of Emigra- tion yesterday Commissioner Jelinghaus presented his minority report in reference to the landing of emigrants. A synopsis of it may be found in our report in another column. The number of emi* grants arrived during the week was 4,007, and the overdraft has decreased to $11,400. Yesterday was a sort of grand field day for the participants in the proceedings of the anni- versary meetings, No less than ton of those annual gatherings were held, morning, after- noon and evening, and, notwithstanding the in- clement weather, they were all tolerably well attended. The great point of attraction was the meeting of the American Tract Society, as an exciting and stormy disenssion on the subject of slavery was expected; and our report shows that that expecta- tion was fally realized. Two resolutions were in- troduced, and necessarily laid on the table, the first directing the Publishing Committee to publish a tract on the slave trade, and the second stating that the society would be gratified by such publica- tion. A resolution offered by Dr. Spring, that in tabling the above resolutions the society did not mean to 88 a doubt as to the sinfulness of the slave trade, was then passed. The American Anti-slavery Society, and the Church Antislavery Society, also held meetings yester da, nd full reports are given elsewhere in lumps. he proceedings of the Consolidated Convention of Baptist Societies, of which we give a report, will be found very interesting, » “ Reformatory Convention,” composed of delegates from nearly all of the institutions for the reformation of juvenile delinquents in the country, held its second session yesterday, at which addresses were delivered by superintendents of several of these bodies. The Convention will probably not adjourn before Saturday morning. The second anniversary of the American Baptist Mariners’ Society took place last evening. The Treasurer reported that the receipts for the year had been $1,060, and the disbursements $336. The Manazer’s report contained very flattering accounts of the past year’s success, and they bespeak a bright hope for the future. Addresses were made by the Rey. W. H. Pendleton, Rev. Ira R, Steward» pastor of the Seaman's Bethel in this city, and the Rev. Phineas Stow, pastor of the Seaman’s Bethel of Boston. Other interesting exercises in singing and speaking made up the programme, The African Civilization Soclety held their first ry at the Church of the Puritans yester- This society desires to evangelize and civil. ize Africans in all parts of the world, put an end to the slave trade, and promote the growth of cotton, sugar, &c., in Africa. The plans of its originators itis understood ‘aternize with the radi- ar cal abolitionists at any g Hebrews, but, after expending considera ble sums of money, was obliged to suspend opera- n 1555, in consequence of di sions among v3. The meeting yesterday was held for a choice of new officers, with the view of a fresh ey. John Vorsyth was chosen President; . B. Pinuey, Secretary; J. H. Browning, v fall complement of Vice-Presi- ne American Home’ Miseton Society held its thirty-third anniversary in the church of the Puri. tans, Union square. A prosperous condition of the society is rhown by the reports. Wm.C. Noyes, |, delivered an address, which was pointed and ical in its bearing. to the p of matter upon our space we \nding that we le a triple- D, to defer the publication of several ¢ mentioned reports. ng the past week and seven hundred and ase of one hundred and d,a3 compared with the week pre- demand was active and prices firmly . The general selling prices were Llc. a ¢ brought 12jc.al2jc. In ock there is no change Lares? FROM Vingrta Campatax.— THE ‘ce columns, editorially, of a late number of Richm of J ad Lnquirer are devoted to “a card” n Minor Botts, which card proves that ohn Letcher” isa purchaser of town y of Washington, This aforesaid to Mr. Botts embraces a letter tcher himself, in which he says:— gton waz an owner of lots in Washington 6 nevor hear! that ho was complained of o Vico President Breckinridge, jas, Fish, Rice and others own improved and I have heard no complaints against in Congress for “ millions of ap- sof the public money” to cnhance of bis town lots, he may pasa on that This is the new i of the present Virginio campaign, and we are waiting for the neXt. of the Present War in Europe. The war in E | ope may be set down as having definitely commenced. We havo a private lettor from London, written on tho evening of the 29th ultimo, by a party not likely to bo misia- formed, which fully confirms the telographio ad- We have advices from Manila to the 9th of | yin, by the Adelaide, stating that every resort of diplomacy had been exhausted, that the Aus trian forces had crossed the Ticino, and Europe was on the eve of aconflict of which no maa could foresee the results, Our despatches from Washington confirm the news. Beyond all comparison the most important point in the new contest is the recently revealed alliance between France and Russia, The seve ral versions do not agree as to what its terms aro Some go so fur as to say that it is an offensive and defensive alliance, ostensibly against Aus- tria, but aimed in reality against England, Others deny this, and assert that it is merely a convention, the chief object of which is to confiae the present war to Italy, by overaweing the Ger- man Confederation with the fact that it must en- counter two hostile empires if it makes common cause with Austria in defending her Italian tyran- nies, The treaties—it is said there are two—are reported to have been signed on the 22d of April, and as they were secret their tenor had not been made public at the last advices. Though somo of the English journals deny that any such alliance has taken place, we have no doubt of it. We have long seen that matters were tending to such a result. An abundance of circumstantial evidence could be produced to prove it; but we need only cite some of the points. The war in the Crimea was hastily closed by France, much to the disgust of Eng: land, and before she had a chasce to retrieve her military reputation. Matters in the Danubian Principalities were settled quite to the liking of Russia, and to the distaste of Austria and Turkey» by the connivance of France. Then came the meeting of the Emperors at Stuttgardt, after the manner of the meeting at Tilsit. Soon after, Russia found no opposition from France in es" tablishing ber steam lines in the Mediterranean, going even so far as to seck a cession of the fine port of Villafranca for a naval depot. Then fol- lowed the uniform course of the Russian journals, in and out of Russia, adopting a steady tone of amity in speaking of the aims of Louis Napoleon: The climax of this course was reached by the an- nouncement in the St. Petersburg Gazelte, as long ago as the middle of February last, that Europe could not remain in her present condi- tion—that the treaties of Vienna, so often vio- lated, must now be revieed—that Italy could not remain in its present condition, and that “if Europe does not decide to make some inevitable changes, there will be an armed collision, and on the day after a decisive battle these treaties must be revised and remodelled.” These things, and many other similar indica- tions of the current of affairs in Europe, led us some time since to see that the Anglo-French al- liance was in abeyance, and that the first step in directing the course of European questions had been taken by a Franco-Russian compact, What the terms of this compact are is of little importance, for their fulfilment or failure must depend upon the uncontrollable force of circum- stances. Its objects we may surmise, and we be- lieve they go far deeper than a mere revision of the treaties of Vienna. As the elder Napoleon pursued his meteor course across the face of Eu- rope, his views underwent a steady modiflcation, until they settled down into those Napoleonic ideas which his nephew, with great astuteness and power, is now seeking to establish as the rule of European goveynment. These may be summed up in a few words:—The overthrow of ‘hat vast feudal system, founded by Charlemagne, in which the throne was built upon the uaion of the nobles and the church; and the establish- ment of.empire upon the popular will, to be sustained by a European confederation. This scheme accords with the system of Russia, and hence she supports it. It attacks vitally the British aristocracy. The whole internal policy of Russia, emancipating her serfs, elevating her people, and diminishing the power of her nobles, is animated by it. And when it succeeds Russia will be the Eastern and France the West- ern colossus of Continental Europe, to be modi- fied and reconstructed in accordance with the social wants of future times by that very popu- lar will and intelligence which they have created. In such a contest as this of to-day England has no part. She herself is marching by a diffe- rent path to the same end of the social elevation of man. For years she has condemned the pre- sent condition of things in italy, aud endeavored to bring about a change by wise counsels to the blind und foolish dynastics, She cannot condemn that others shonld practise what she has so long >| preached. Her prth lics neither with France nor Russia; but it lies with us of America; it lies with the vast empire of freemen which she is creating in far Australia. Together we have to work out the problem of self-government, the material and intellectual developement of man and the brotherhood of nations, Let her not bind upon herself new bardens in endeavoring to preserve the forms of a degrading and worn out feudalism. Suffer the down trodden peoples, led by ambitious intellects, to root out the wicked dynasties that now consume their growth. In ber iskand home she is safe from foreign in- vasion sand internal convulsion. In sincere emity with us, her position upon the sea is se- cure, And the day ia not far distant when Eog- lish freedom, developed in America and rivetted at the antipodes in Australis, ehall be the nor- mal condition of the nations, Tun Anotrrionsts Dowy Is 1 Mocru.— Of all the benevolent and reformatory societies holding their anniversary meetings in this city- 5 blessed month of May, the poor chop-fallen itiouists of the Garrison schoo! seem ta be in the most uncomfortable condition. They de- mand the immediate abolition of slavery, bat they despair of securing it; they demand the dissolution of the Union, but they cannot diseo- ver how it is to be accomplished. They are down upon all political parties--they are down upon all our Christian churches—they are down even upon Dr. Cheever, upon Henry Ward Beecher, the New York and New England Church Anti-Slavery Society—upon everybody and everything except their own little set of crazy demagognes and fanatics. They do nothing but scold and rant and rave from morn- ing till night; and they scold and rant and rave this year worse than thoy did last year. But there is still some method in their madness; for, according to thair financial returns, they have a surplus over their society's expenses for the last year of twenty-four bundred dollara, which shows that they live at least withia thelr means Apart from this saving clause, however, the pro ceedings of these radical fanatics would justify NEW YORK HERALD, THURSDAY, MAY 12, 1960—TRIPLE SHEET. thefr ateure aoe safe keoping ad Tunatlos, duc. | preserve to her - gerous to cach other and the community if longer suffered to go at largé, As it is, these poor abo- litionists having no other power of misohief ex- cept their foolish tongues, the community bas learned to regard with iudifference their Lacohe- rent jargon of philanthropy, blasphemy, revolu- tion and stuff and nonseuse, satisfled that whea they are exhausted they will edjourn and go home. The society is made up of the sane orators and leaders that have controlled it for many years; and, from present appearances, when these old fellows slip off the stage the whole concern will die # natural death. The close of their proceedings yesterday manifest -d that the convention was a complete fizzle, Tne resolutions introduced at the beginning of the proceedings, and which, it may be presumed, were intended to represent the platform, were laid on the table by a very distinct majority vote, and the meeting broke up ina snarl over the anti-slavery orthodoxy of Dr. Cheever, the church abolitionists, and the tract societies. ‘The Complications on the Continent—Eng- land the Financial Arbiter of Burope. If English statesmen prove true to the tradi- tional policy of their predecessors, Great Britaia will continue to hold a controlling influence over the war of interests on the Continent. Her strength will lie less in her armaments than in the enormous money power which she wields. ‘Tho same resources that enabled her to subsidize the continental governments agafost the first Napoleon will furnish her with the means of neutralizing or limiting the action of existiag coalitions, or of coercing its members separately into her views. Whatever may be thought of the wisdom or generosity of her foreign peloy generally, she never hesitates to employ lavisly in its furtherance the financial wealth at her command. Look, for instance, at what she did in the Continental league against the great Emperor, which was only sustained and kept together by the prodigal sid which she afforded it. Without entering into the de- tails of the different subsidies furnished by her from time to time, it will be sufficieut to compare the amount of her public debt at the close of the war in 1815 with that at which it stood in 1793 to show the enormous sums which that effort cost her:— + $2,017,728,690 ‘Thus we find in a little less than a quarter of acentury her public debt quadrupled—a ciy- cumstance not to be wondered at when it is re- collected that she took the engagement with her allies to furnish them with six millions of dollars annually for every 100,000 men they kept in the field. Since then, whilst her debt has remained almost stationary, those of all the continental governments have been rapidly increasing, and will be swelled to a fearful aggregate by the close of the pending war. Wecan form some idea of what their necessities are likely to be from the following statement of the loans which they have recently put in the market:— $100,000,000 160 000,000 80,0001000 bat the other governments will fiud great diffi- culty, if not an utter impossibility, in procuring theirs, With Russian Four and a Half per Cents down to 87, French Three per Cents down to 62. 65¢c.,and Austrian Five per Cents down to 49, there is not much encouragement for British capitalists to invest in any of them. The Rus- sian loan was regarded with some favor until the unlucky discovery was made by the London Times of its treaty with France. Now it will be impossible to get any one to touch it. Ansiria, from the critical position which she cccupies, and the discredit into which her finances have fallen from other causes, could not reasonably have expected to meet with assistance from foreign capitalists. She has, therefore, provided temporarily for her necessities by seizing the metallic reserve in the banks, and will have to trust to Providence for the rest. A Snancial crash is probably the best thing that can happen to her. The two hundred and sixty millions set down above represent but an inconsiderable portion of the amounts that will be required by the con- tinentsl governments before the close of the war. Even should hostilities be confined to Italy, the present loans—supposing they can get them—vwill be but as drops of water in the ocean of their necessities, Should the conflict become general, the sums that will be required to maintain the vast armaments that will have to be kept on foot are beyond the range of cal- culation. When we take into account the fact that the governments seeking these loans already owe, collectively, to the public creditor over $10,000,000,000, it is easy to foresee the despe- rate straits to which they will be reduced before the sword can allot to any of the belligerents the prizes of conquest, In view of such a prospect as this, we say that any English statesman would be insane to pledge Great Britain to ac- tive interference of any kind in this Italian question after the breaking out of hostilities. The Court or other influences which would seck to bring about such an iaterference would be guilty of treeson to British interests, Having done all that she could to prevent war, it is now the policy of England to leave the belligercnts to follow the example of the Kilkenny cats. They will all presently have to come to her for money, and she can then dictate to them such terms as will bring hostilities to a prompt termi- nation, and guard against the danger of their recurrence. Her true position is that of the financial arbiter of Europe. She asserted it in the wars of the first Napoleon; she can main- tain it still more successfully in those of his suc- cessor. To abandon the prestige and solid supre- macy which such a position affords her—a supre- macy which the sword can never secare—would be unpardonable folly. It isto be hoped that the conservative party, who still hold the reins of power in England, sre penetrated by a convic- tion of this truth. If not, the sooner they are kicked out of office the better. If ever England required a statesman at the helm possessing the combined qualities of prudence and honesty, it is pow. There have been so many eccult family inflaences at work throughout these complica- tions that it might casily fall to her lot to be betrayed into irretrievable mistakes in regard to them. We saw how nearly she was committed to an armed jatervention by the offer of the guaranice made by Lord Malmesbary to Sardi- nia es a condition of her consent to the disarma- mont. Another such blunder as this would lead to fatal coneequences to her intereats. We re- peat that an armed neutrality of the strictest and most effvetive Lind ia the only thing that will the qactery of situation, +f eee Opening of the Moersgue femme vs Paul Contract Awarded. By our telegraphic intelligence from Washing- tom it was enoounced in yesterday's Hanan that the coatract fur carrying the wa'ls semi-monthly between New York sud Saa Francisco, for a period of nine mouths, commencing Ist of Ovto- ber next, was awarded to David LL. Joba- son, of this city. But it will be seea from a letter im another columa, signed by the President of “The Amerioan Atlantic aud Pacific Ship Canal Company,” that that company have nothing to do with Mr, Jubason, aud that the award has not been made to it, At the same time it ie not denied—as, indeed, it cannot be— that Mr. Joboson hus obtaiued the contract, [¢ | is only denied that ‘he represents the Nioara- guan route interest.” It is stated thas Mr. Vaa- derbilt equally repudiates the connection, Mr, Jobneon, therefore, who is a stock broker ia Wall street, aud is not supposed to be a capitalist, has some other moneyed men at his back, and two or three distinguished financiers are spoken of as being the parties concerned. Bat it is coutended that $162,000 would aever pay, and that the contract, therefore, is not bona fide, The object, however, is net so mach to make money directly by the contract with the goverument as to make the passenger business pay, in virtue of the government ea- dorsement of the line. Tbe contract is ouly for nine months, and after the line is established a more profitable contract may take its place. Euor- mous profits have been made by those tines which vre now carrying passengers to the Pacific, and this has stimulated rivalry and competition to such a degree that we have no doubt responsiole parties could be found who would carry the mails gratuitously in order to get the obief share of the passenger trade. The American Atlantic and Pacific Ship Canal Company have a contract with the Nicaraguan government, entered into in 1857, for a monopoly of the route, the consideration being $1 50 per passenger; and it will be asked how can that government recognise any other line? But it has already repudiated the contract, or charter, and prohibited the vessels of the company from entering the Nicaraguan territory. It has also made another contract—a later one—known as the Vandyke contract, with Philadelphia parties, and it is probable that it is on the basis of this the gentlemen who have now obtained the con- tract from our government for carrying the mail will organize the new company. If the old com- psay have lost the benelits of the exclusive pri- vileges conferred on them by their charter, they may thank themselves for quarreling with each other. It is true they may demand damages (be Burop%a | tors are cxutttag over a rive in flour, wheat, from Nicaragua for breach of contract; and judging from the letters of General Cass, those da- mages will be enforced by cur government should Nicaragua prove reluctant to pay the indemnity. Jn a letter of the Secretary of State addressed to General Lamar, in July last, the right of Nica- Tagua arbitrarily to annul euch contracts was peremptorily denied, and the duty of the Ameri- can government to watch over and protect their citizens distinctly laid down. This letter was referred toin a recent letter of Mr. Cass, a1- dressed to Mr. Yelverton, the President of the American Atlantic and Pacific Ship Canal Company, in which the policy of the govera- ment is reiterated, and General Cass adds:—* In consequence of a communication from General Jerez, the Nicaraguan Minister, I have just ad- dressed him a note avowing the determination of the President to adhere to the principles laid down in the letter to General Lamar.” In surveying alone, we believe, the expense of the company emounts to upwards of $250,000. So that for this they have a legitimate claim, provided they have not forfeited their rights. It is provided in the contract between the Nicara- gaan government and the American Atlantic and Pacific Ship Canal Company, that for any wilful breach or non-performance of any of the stipulations, the government of Nicaragna may annul the seid contract after having submitted the question to the decision of arbitrators, and after the arbitrators have decided against the company. One arbitrator to be chosen by cach side; and if these two should not agree, then the oldest forcign Minister at Washington to appoint a tbird. This process has not yet been gone through, and what it may bring forth it is hard to say. Meantime, the company lock forward to vast damages from the Nicaraguan government. This renders the affairs of the route somewhat complicated, and bow the ugly knot is to be loosed time only can tell. Two things are evi- dent, One is, that the public have not confidence in this route, and on endorsement of our govern- ment in the shape of a mail contract to some | line is necessary bo restore the lost confidence. The other fact is, that our government is deter- mined to have the route opened to all the world, notwithstanding the machinations of Sir Gore Ouseley, Monsieur Belly and the Commodores, The British and the American governments, un- derstand each other. Their views are the same. They both want the line free and’ open to all. Sir Gore Ouseley’s tortuous policy does not suit, and the British government is compelled to fall back on the basis of the Cass and Yrisarri treaty for an open transit, anda new treaty is in pro- gress of negotiation to that effect. The Nicaragua line will, therefore, soon be open. The Panama and Tebuantepec lines are open. The overland route is not only open, but it proposes to carry the mails duily for double the amount of the contract which it now receives for a semi-monthly service—a proposition which is likely to be accepted; and the Honduras route will be started in the course of the present year; so that soon five routes will be in operation between New York and our Pacific possesstons, and all these open to the whole world. Such is the liberal policy of Mr. Buchanan. It is worthy of the dignity of a great republic, and a noble example to the despotic governments of the Old World, Wuast Do We Gary or Lose ny tae War?— From all parts of our country which are brought within a day’s hail of the metropolis by the tele- graph, we have accounts showing that the European war is the sole topic with all classes of our people—the leading topic of the day. Thus far we look in vain for any very marked exhibi- tion of sympathy with either of the contending parties. There is exceeding interest and fover- ish curiosity at the operations in the Cabinets, the fluctuation of the funds, the marshaling of the mighty armies. Trade, always sensitive to excitements of this order, has felt the effect of the great ruling topic of the hour with remarka- ble celerity. Cotton is depreciated a quarter of a penny on the pound, which makes a low of cight millions of dollars in the whole crop, which the Southern planters may have to bear. On the other band, the Western farmers and specula. ' Gorn, rye, pork, beef snd all agricultucal products iu which they deal and wich Thiol they must pay for (be goods which they buy of York importers, The avcouats by the last New 4, n, * orsia’s mails have stimalated ‘ arivle with tne . * 410.9 fF the provision aud Dour genrees. | TUrMber am and ono which will more than “ake UP fee Josson cotton, If tbe dectine oa that » 22le sould be permanent, whieh ts by no means certaia, It is beyoud peradventure, however, that the rise in Western produce will be sustained aad improved upon. Aa inorease of tea ceats per burhel on the wheat pow ia market aud ia the ground alone would make a gaia of fifteen mit. lions of dollars, Ia 1856-7 we sent to Burope seventy millioas of dollars io breadstuifs Phie year it may—and we place it within bounds— reach from one hundred to one huadred aad | twenty-five millious, If the South loses elght or ten millious on ootton, it will gaia in the purchase of foreign goods, which will be throwa ou our market in immense quautities, the coatinental markets being shut to Eagliah goods, The West, as will be seen, will gaia more than enough to | pay off the liabilities hanging around its aeok | since the crisis of ’57, and will come into the | Eastern markets aga cash bayer. Imports wilt likewise receive & great accession, which will | swell our customs receipts and pay off some of the debts entailed upon the country by the lega- cies of the Fillmore and Pierce administrations, With such results as these before us it is ne wonder that our commercial and agricultural population should take the greatest in- terest in a general European war. Ove year of it—and there can hardly be less—will put millions in our pockets, go far to release the general government from its lia bilities, stimulate immigration, and put all the leading interests of the country squarely in Eure- pean ledgers, without counting our mineral wealth which we have hitherto been obliged to send abroad to pay the debts which our crops were insufficient to satisfy. We shall have, alo, a great deal of European capital seeking an in- vestment in our securities, Should the war be prolonged our shipping merchants will find ready employment and high prices for all their vessels, so that shipbuildiag will receive a part of the gain. The immediate effect, however, will be in the rise of provisions, breadstuffs and all sorts of arms aad munitions ofwar. We must be prepared for wild specula- tion and flush times—perhaps another crisis, a¢ the consequence of over expansion; but it is to be hoped tha! our merchants will have learned how to make use of their good fortune without abusing it. Tue American Tracr Society oN THE Arnt- can Stave Trape—A Great ExcrreMeNt AND‘ Grear Victory.—Read our reporter's report of the lively proceedings of the Americau Tract Society yesterday on the subject of the African slave trade. But these proceedings to the uniai- tiated reader may still require a word of ex- planation. First, then, be it understood, that the receipts of this society amount, in rouad numbers, to the snug sum of about four hundred thousand dollars a year; that the distribution of this comfortable sum isin the hands of a solid majority of the society, known as the “ins,” aud that the minority, known as the “outs,” desire to have a finger in the pie. The “ins” are “sound on the goose question,” and act upon the sound policy of letting Southern slavery alone.. They are thus enabled to occupy the whole broad field of the Southern States with their “colporteurs,” or paid distributors of tracts, and other agents. The “outs” think this a great waste of money; and are, therefore, desirous of » split on the ne- gro question, whereby these fundsmay be more judiciously appropriated nearer home. And so, for some years past, the “outs” have heen labor- Ing, by various devices, to force the society to the publication of a tract or two on the evils of slavery, which will cut off the Southern States, treasurers, colporteurs, &c., from the beuefits of the society’s funds, chiefly collected in the North. But the Northern “ins,” co-operating with the Southern “ins” of the society, have thus far con- trived to fight off the rigger in every shape, ex- cept the African slave trade. That issue, there- fore, was sprung upon them yesterday, and the sequel will show that even here the “ins” remain masters of the field. Various motions ordering the publication of a tract on the “Sin of the Afri can Slave Trade” were strangled without much ceremony, and then to prevent a too violent mis- construction upon the subject, on motion of the Rey. Dr. Spring, the following saving resolution was adopted, to wit: Resolved, That in laying the preceding resolutions on the table, ‘the society have not come to the conciusion from apy doubt in relation to ‘he gin of the African slave trade, or the great wickedness of reviving that iniquitous system in any form. In other worde, the society wish it to bo dis tinotly understood that they consider the African slave trade “a great wickedoess”’ in any form ; but they decline to publish a tract on the sub- ject. But why? For very good reasons. First— Such a publication by the society would shut the doors of the South in the face of the society. Secondly—This proceeding would cut off the Southern receivers of the funds of the society, agents, colporteurs, é&c., from the spoils. Thirdly—The colporteurs caught with the pub- lication indicated in their carpetbags, in any Southern State, would be in danger of some uc- pleasant introducticn to Judge Lynch; and lastly, the Northera “ins” of the society would be supplanted by the “outs,” and reduced to the doubtful experiment of an independent conservative Southern tract society. The conservative “ins”? are entitled to groat praise for the skill with which they have in this Jast battle managed to hold the ficld; but in another year or two this sozicty must go the way of the Methodist church, and the Baptist church, and the Presbyterian church. The nig- ger issue having been introduced into its conn- cils, the inevitable result, sooner or later, must be a split of the concern into a Northern aud a Southern Tract Society, and the heavy annua; amount of the epoils and plunder—four hundred thousand a year—will only operate to hurry up the final explosion. Our blessed Saviour sent out his disciples without money, and they did their work faithfully ; but our modern Christian socteties, with few exceptions, act upon the same fanda~ mental principle that governs our scurvy politi- cians—to wit : “the cohesive power of the pub- lic plunger.” The Tract Sovicty, upon this great fifinciplo, still holds together; but the examples of our Protestant churches and of Tammany Hall tell us plainly enough that there is ah explosive (camphene) a3 well as a cohesive power in the spoils; and that, religious or poll- tical, a quarrel over the spoils commenced om the nigger, or any other pretext, must end ia & split and a new division of the plunder, or io & general row. Owe Hove is rim “Pintory.’—The Cirenlt Court lately sitting at Madison, Florida, sontenced @ mam to stand in the “pillory’? ony hour fur toaling cotton