The New York Herald Newspaper, May 21, 1859, Page 8

THE SOUTHERN CONVENTION. Reopening of the Slave Trade—Continna- then of the Exciting Debate—Speeches ef Mr. MeCardie, Ex-Senater Breoke, Mr. Wade, Ex-Gov. MeRae and Mr. Warton, of Miss.; Messrs. Kdwards, Lawton and Spratt, of §. C., and Mr. Kennedy, of Ala.—The Vote—Silave Trade Resolu- ten Carried—Great Enthasiasm and Excktement—A Protest Agalnet the Slave Trade Resolution--Pro- ef Two of the Protestants— Free Trade and Direct Tax- ation--Pacific and Southern journment to ‘Discussion Atlanta, Ga. Thereupon—Withdraw- al of Another of the Members—The Final Adjournment, &e., &e., ko. FOURTH DAY’S PROCEEDINGS. ‘VicksnorG, Mige., May 12, 1859. ‘The Convention met at nine o’clock A. M., in the Apollo Hall. A considerable was spent in making wotions, offering resolutions, &c,* Among the resolu dens offered and referred to the Commities on Reso. Detions were the following:—In reference to the use @f iron cotton ties, in reference to the establish. ‘ment of direct trade between Belgium and the Southern Bentes, in reference to the acquisition of Cuba (these latter ‘were presented on bebalf of General Roueau), in refe wence to the reopening of the slave trade, in reference to emcouragement to the publication called the London Cxton Plant, &. The Committee on Resolutions, through Mr. Johnson, of Vicksburg, its chairman, reported back for ‘he consideration of the Convention resolutions im favor ‘ef the Pacific Railroad, and of railroads from Charleston and Savannah, by Montgomery, Alabama, and by South- ‘ern Railroad, to Vicksburg, thence across the State of ‘(ouisians to Marshall, in Texas, and thence across the Btate of Texas to the Pacific ocean; a resolution express" fing satisfaction at the correspondence between Mr. Bosch Spencer, of Bruseels, and the Mayor of Memphis, in ra gard to steam communication between Ghent and Mem- pis; the resolutions sent by Mr. McRae, in favor of making the Gulf of Mexico an American sea, of encoura gig the republican spirit in Cuba, Americanizing the ‘Ietbmian States, and abrogating the Clayton-Bulwer treaty, ‘wad algo (with a recommendation that it be adopted) the Fesolution preeented from the same, declaring that the election of a President of the United States by a sectional majority, in 1860, will be a virtual dissolution of the com. pact of the existing Union of the States. after the transaction of the ordinary morning businoss; ‘the Convention resumed THE SLAVE TRADE DERATE. Mr. Wa. H. McCarpue, Secretary of the Convention, and Proprietor and editor of the Vicksburg True Southren, took fe stand and declared himself to be uomistakeably in favor of the resolutions offered by the gentleman from South Carolina (Mr. Spratt), which declare that slavery is yight, and that it is expediont and proper that the foreign slave trade should be reopened. He would stand by them, hive by them, and, if need be, die for them, (ap pinste.) Let the struggle come—he was ready for it. enever the government desired to order its jamiesaries, Ste cohorts, to come down to the South to trample upon their rights, let them come. The first division that would ome would find the South adeadly place for them. They had better come to stay, for when they did come they would stay. (Applense.) After the drst conflict, the stars would shine on many a stif ana ghastiy corpse from among those who had left their homes in the North at the Didding of the Executive, to trample upon people who had Mever wronged them. He believed the collision would gome. He believed it ought to come, Wold to God it | might come in his day. He wanted it to come now while be was in possession of hig faculties, He wished Yo bear his portion of the burden. He did not want to leave it to his children. He did not want fo leave them with a badge of degradation on their ‘brow or manacies on their limbs. He wanted to bear no more of this miserable talk of treason. ‘They had an ally ere in the ehape of yellow faver, and in face of it no army could conquer them. He believed that the man who Precipitated a conflict between the South and the federal ernment would make for himself an immortality of ¢. He would be sowing dragon’s teeth, from which farmed men would spring up. He regarded ‘the laws of | Congress against the slave trade as afoul fraud—a vile fungus on the statute bock; and he was in favor of blot. Zing them out. That the sons of the South were bray pa ae ale rh her sont would know how to fight ia defence of their own firesides and in defence of all they boid dear. It ought to be said, in extenuation of this speech, that ‘Mr. McCardle is considered to be a good looking fellow, and that there wes a fair collection of ladies among the mudience. Ex-Senator Waker Brooxe, of Mississippi, next ad- ‘@ressed the Convention. He believed that the measure [Proposed was one more fraught with ruin to the South fban any that had ever entered into the mind of man to conceive. He entered his eolemn protest againat gentiments which were proclaimed here, and which were disgraceful to the people. If carried into practice the elements of society in the South would be Fesolved into their native chaos. As to the arguments made yesterday by Judge Bennett—that juries had the | right to judge of the law and of the facta—he believed that had a lawyer made such an argument before him (Judge B.) he would have committed bim to jail for contempt of court. If such doctrines were to be endorsed in this com- munity, instead of importing Africans they ought to be ex- ported themselves to make way for more enlightened people. The constitutionality of the slave trade laws had ‘Bever been doubted by an intelligent mind in the country until within the last two or three years, when it was found convenient to make such suggestions, 80 as to excuse wertain juries for acting in violation of their oaths. The Mheories propounded here had a tendency to make the United States an Iehmaclite among the nations of the earth, for ber hand would be against every man and every man’s band against her. Not only did they disregard the laws of the land, but they even struck at the law of nations. There wagon the table a regoiution offered by Governor McRae, declaring that the Guif of Mexico mbould be an American sea—a mare clausum. On what basis was that assumption founded? What right had the United States -more than any other mation of the world to the Gulf of Mex’ ‘Was it surrounded on all y the American territory? no means. Its entrance between Key West and the «i of Cuba is eixty miles wide, and no power on earth could make it a mare clausum. Aa to the reopening of the slave trade, be opposed it for two reasons. One was ‘based on the humanity of the thing; the other on motives of a politicoeconomic tendency. He might not refer to the horrors of the middle passage, for he admi hat the reopening of the slave trade wader the sanction of law might enbance the interests of humanity in that particu- Jar. They had now an intelligent, and, to some extent, an educated body of slaves, who had yet lost none of that wpirit of obedience which rendered them go pecallariy ‘Aitted for a state of slavery. In contrast with the present state of things, he referred to publications in De Bow's Beview, written by Mr. Pettigrew, a native of South Caro- na, citing the black code of South Carclina e century or a century and a half ago, in which a man was authorized to kill a runaway negro, whether he resisted or not—he was suthorized to bring ‘him in dead or alive. If he was brought in alive he had his nose slit and his ears cut off. ‘Tf be ran away a second or third time, he either had one of bis ic sawed off, or suffered the — of death. reopen the slave trade would , he argued, to revive such black codes, Tf the country were to be overrun with barbarous hordes from Africa, the condition of the slaves would be put back ‘two hundred years, and the condition of white men would be put back too. Every semblance of humanity would Bave to be blotted out from the statute books, and the slaveholder would become—instead of the patriarchal friend and master of his slaye—a bloody, brutal and trembling tyrant. It would be n to resort to the Dloody codes and summary punishments of past times instead of the mild provisions of present laws. Mr. Brooke referred to the fact that wherever the slave trade flour- ashes there is no nataral increase in the slave population. On the contrary, there is a nataral decrease. That de- Grease in Cubs {s five per cent per annum; and it arose Partially from the fact that planters found it profitable to work their slaves to death because they could replace ‘them by others procured at mere nominal prices. He had mo doubt but the same effect would be produced here if the slave trade were reopened. He believed that in fight- ‘img against these slave.trade laws they would be fighting not only the laws of the land but against the decroos. of Divine Providence himself. In free country there is BO necessary connection between the price of labor and ‘the price of the fabric produced. ft was not so, howaver, ima slave country, because there the master or the pro- Gucer owns the labor; and it is indifferent to him whether labor is high or low. ’ indeed, his advantage consisted ra- — 4 im labor being high, because his Property was, 10 extent, enhanced in Value, Hence, the price of the Fone depends in the South—as it does not do in the ep m the number of operatives. Increase the num- race erativen, and you thereby reduce the price of the nha and the planter or the commanity ia which the eontrary,, ocr lg fo! a gainer thereby, but,on the thin would’ insgre ust Of, Sure, at eeos follows cause, z f slavery iteelf, because slavery has always beea abolished whenever it has ceased ‘had the North abolished slavery? Not at all. to be profitable. "Why Was it from any feeling of phii He to the South and sold shem. What aid the with any more negroes? i ‘yg a wot raise cotton ezoust? Won {si naan 160 hasn the man tell him She demand for eotion was groator ‘nine thea ie aupptpt Ed one, because the Statement would not be true. Were they not maxing enough to supply the markets pa brian Baty furnish the aad looms of ‘tain, Belgiam, France, a 18 ther States?” There was no fu i or, if ther ‘her demand, or, if there Tek, Bo Breater demand taan corresponded with the in- ee uing Bumber of slaves, Besides, there was no room r the unlimited exoangion of th crop of cotton. It boing i _ toa very narrow belt, and mot a very long Slates 0”, 2atural increaee of the negroes in the Southern tes Was at the rate of Ber cent greater than 1 ‘That e bij for the condition of the Seti case people could increase im that ratio ‘unless they were surrounded with all the comforts of life, In the discussions in reference to Texas, the argument ‘was--and it was made by Mr. Calhoun himeelf—that Texas ag wanted for the purpose of drawing off the surp\us Tlaves of the Southern States. ‘They had not since enlarged wing ref They could not do go, for it was eee ed by Go himself, i He asked thie Conven‘ion to pause and refiect on the doctrines promulged on this Mr, Foote bad well said that extremists always promulged here occu] precisely’ the same platform Seward, Gi and Hue. ‘with those of the pa a war pind _ He read a newspaper raph from the rican, in reference to thew of mended its sentiment to this Convention, The paragraph was as follows:— Mt ‘Tre Bouo Saver TrraL.—The Charleston Merc bial y yal the Jury soqulited the crew ofthe slayer Kobo, be. ausoit would eruel, and demn men to death for bringing slaves ‘are bought and acld every day.” A parity of i to make the Mercury, to excuse the unwil people to execute ibe fugitive slave law, be- ‘“fheonsistent, cruel and ay pocriieal fa them wo consent to the return of a ‘ive slave when they believe everywhere ‘gd wrong : eures the nopenforcement of one law in the! ie senuiment is opposed 10, how ean it Juatly sak te ‘another law which is there opposed by public seatl fen) The true ground is that both laws should be maintained, simply becanse they are the law. Mr. Foorn suggested that pirates caught on the high sea ib, ROL LOB might be broug) uthern port, but to New York or Boeton, and asked whether in a1 @ case they were not very likely to be hanged’ ‘Mr. Brooke thought 80, because in all respects the peo- fad of the abst or at least a portion of them, were & w abiding le. Mr. Hanne, oF ‘Mississippi, United States District Attor- ney for Vicksburg—How could the gentleman from South Carolina (Mr. Spratt) and the gentleman from Panola (Mr. Davis) carry out their doctrines in that event? Mr. Brookr—They must answer for themselves. Mr. Davis, of Mississippi—I ask the gentleman whether he thinks the ome oe ” ae making the African slave de piracy constitutional 7 Bnocka—Most unquestionably. I never heard it doubted before; and I nae nat pnt ae argument to change my opinion for a . srs ri of ‘gouth Carolina—Will the gentleman be kind enovgh to Log how mapy men have been hanged in Boston for pirac} Me tance enue’ wet say, but he guppored a great mavy there aswell as elsewhere had escaped banging who richly deserved it. But no matter what Northern juries might do, let Southern juries be true to their own Teaponsibilities and their own consciences. (Applause.) He gloried in the integrity of the South; he gloried in the fact that sbe bad hereto! occupied @ high and proud platform, and bad manfully maintained the sentiment of letting justice prevail though the heavens might fall. He ‘was sorry to gee that there were members on the floor, and scattered over the South, who would wish the South to sink down with infamy from the high position she has cecupied in that regerd. He appealed to the South to have the laws against the slave trade enforced go long as they were on the statute book. Captain Wap, of Mississippi, next obtained the floor, and in a short but effective speech declared that he raised his voice, impotent as it might be, in opposition to the measure before the Convention, looking to the reopening of the slave trade, and that he deemed it the duty of the Convention to abancon the proposition, now, absolutely and forever. Hon. J. D. McRAR, of {Mississippi, M. C., and formerly Governor of the State, next took the stand.’ This gentle- man had not been present during the previous days of the Convention. He had been prevented by illness from being in attendance. He arrived last evening, and the friends of the slave trade in the Convention evidently calculated a dea! on the effect of his addrees. Gov. McRae, witha rather musical voice, has arp, rattling, hissing mode of delivery, and has a habit of coming down, as it were, on every fourth or fifth ‘word, and pressing on it with a sort of nut-cracker move- ment. This takes very considerably from the otherwise pleasant effect of his delivery. But he is a high toned, bonorable gentleman, and very popular in his State. He was appointed by the Governor to fil! the residue of Gen. Quitmen’s term in Covgress. He commenced his address by eaying that the question of reopening the slave trade ‘was a vital one, in which every citizen of the South was intel It lay at the basis of the social system of the South, aud was the institution which gave to the South prosperity and power. He defendea the jury for the ver- dict which they rendered in the Echo case in Charleston, and referred that verdict, not to the determiaation on the part of the jury to be untrue to their oaths, but to the fact that they believed—as he believed—the laws of Con. gress prohibiting the slave trade to be unconstitutional. He discussed the constitutional power of Congress to pasa that law, taking the eame ground and making nearly the fame arguments that bad been taken and made by Mr. Davis, to the effect that the clause saying that Congress should have no power to prohibit the slave trade before 1808, but that it might, in the meantime, impore a tax of "$10 on each negro imported, did not delegate that power ‘to Congress in 1808, but that before Congress could exercise it there must be an amendment to the constitution to that effect; and thet in the meantime Congress had the power solely to impose the $10 tax. Ar to the arguments made here that this movement would array the world against them, he asked was not the world now arrayed against them on this question? Whom had they as friende except themselves? and he was eorry to say there were a great many among themeclves who were not their friends on this question. Was not the North arrayed against them? What hoid bad they there? Their last hold bad been in Connecticut, but that was now lost. The leading principle of the opposition in the North was opposition to slavery in all its forme, and its ultimate overthrow. Foreign countries were against them. England and France were against them, not only in sentiment but in interest, They were interested in en- {REFABPE Htc Spposed to everything tbat would give Whe Southern States greater powers of production. It had been said here to-day that they would become the Ish- maelite among nations. In his opinion they were now the Isbmaelite. He was for strengthening him. He was for making him a giant, so that he could resist al! influenses brought to fer against bim. The last speaker, Mr. Brocke, bad said that the reopening of tbe trade would have a deleterious influence on civilization, and that the condition of the blacks and the whites would be put back for a century or two. He was willing to risk that danger if they but gave him the negroes. (Laughter and applause.) The only retrogression that would take place would be the Christianizing and civilizing of the Af- ricans who would be brought here. How much, he asked, had the American aad aes been set back by the Africans brought here “4 their forefathers? He believed in the high moral attributes of the slave system, and he expected his life to be extinguished when the existence of slavery goes out. He advocated the repeal of the laws prohibiting African slavery here, on the ground of the equality in which the several States of the Union ought to be placed in the legislation of Congress and in a)! the acts of the federal government. Not only was be in favcr of the repeal of the laws probibiting the introauction of Africang, but he was in favor of their introduction. (Ap- plauge.) He was in favor of it, because he believed that it would increase the prosperity of the South and increase by extending the area of her social system. iiling to go for the introduction of these Africana in apy way tbat they can be legally introduced. If they could only be procured ag apprentices, he was for that system He was a law-abiding man. He was against th: violation of the laws aon the African slave trade, £0 long as they were the law of the land, (Agplauce.) This was a country of law. Their security was deponden: on the exeention of the law, and that security conid only be given by the faithful observance of the law He had always contended that the North was boucd in good faith to execute all the laws which relate to any tereate connected with the institution of slavery. He had always consiiored that it was an outrage on their rights, that the people of the Northern States aid not return tw them their fugitive 7 Mr. Jones, of Georgia, asked Mr. MoRac to state the dis. tinction between the effort of those who believed the lawy of Congrees prohibiting the African slave trade anconst) tutional, and the efforts of thoge who believed the Fugit.ve Slave law unconstitutional ? Mr. McRaz did not mean to put the former on the same footing ag the latter, because be believed that the lawe against the slave trade were unconstitutional, while the Fugitive Siave law was in consonance with a plain provi- sion of the constitution. When the constitutionality of the laws prohibiting the African slave trade was decided by the Supreme Court of the United States, then the people of the Southern States would stand by them; and if they aid not, they would place themselves in the category of the Northern people in violating the Fugitive Slave jaw. A DELEGATE inquired whether he thought a State had a right to prevent the introduction of slaves. Mr. McRag did think so. The same delegate inquired why the United States had not the same right. Mr. MoRag answered that the States had the right but the federad government bad not. He believed that if the question of the constitutionality of these laws against the siave trade were presented to the Supreme Court of the United States, that court would decide that it required an amendment of the constitation to give Congress the right to forbid the slave trade. The Convention then took a recess till three o'clock, aad when it reassembled Mr. McRae resumed his discourse. He divided the question into two phases—oue their local interests ag connected with slavery, the other their politi- cal interests as States of the confederacy. On the first point he eaid that they wanted a supply of labor to diver- sify their agricultural pursuits. For instance, be wanted now ten negroes for the purpose of cultivating vineyard. As to the argument that the increase of labor would effect a reduction in the price of cotton, that he thought was no objection, for half the people of the South were consum- ers, not producers, of cotton. They wanted African labor to build their railroads, They wanted a million of Africans for their works of internal improvement. It was said ‘that they did not want to produce any greater supply of cotton; but they might as well argue against a further cnitivation of land. Such arguments would uot «do. Were not France and England now en; in an eifurt to colonize every spot of territory guitable for the production of cotton? They were endeavoring to Africanize Cuba and Central America. In answer to the statement, that the increase of cotton now kept pace with the increased deroand for it, he said that there had been no particular increase in the average ten years. It might not be apprehended that there would beall st oncean immense number of Africans cast on these shores. The supply of Africans could not ba too largely increased, for want of transportation. Besides, the States would’ have control over the question, and might at any time inhibit further introduetions, As to the bearing of this movement, im a political point of view, be said that unless something was done on the sypject, the area beyond ita of slave territory would be fixed: it could ni esent limits, Then the right of bringing their slaves into Ferritorion of the United States was practically of no use, both for want of spare white population and for waat of slaves. The more slave States they had inthe U: the more strength would they have in the government. He did not believe, a8 was asserted, that a repeal of the laws pro- hibiting slavery ible. He had the fali belief that there was no impossibility in the . He believed that if the South eaw thie question as he did aad would make a united demand on the Congress of the United States for the repeal of those laws, that demand would be acceded to. (Applauee.) He thought they could array a large aly f in the North in favor of the repeal of thore laws. the #hip owners of the North would firri their interest in the renewal of the trade. The people of the North would rather have a tozen cargoes of slaves landed in the South than return a eingle fugitive slave, evens of cotton for the last | L Du on quietly laid on the table. the Legislature was in 1858, on who was heard in a very able and that argument was replied to Oe Tcumios wes ferme as the wi w ended Logialatare a8 concerned we the motion was or indefinite) . district in the in which public prominence except it whole question seemed to right that this explanation hoes who were is a sitnoritg ihe aelagatien frog South Carelipa. pbier Wook the andy and ta Re e stand, declared bia belief that the State unequivocally in favor of the subject of the slave day tutional, and, therefore, they were insulting to He believed that if the slave would have Boston, Portlan: slaves, and they would thus increased. Skvenat Detxcatss—Woe don’t want them. Mr. Lawroy, of South Carolina, was the next speaker: He did not pretend to speak the sentiments of the people of South Carolina, or any portion of them, on the subject of the reopening ofthe slave trade. Ho was not here under any instructions, nor would he as to how he would vote on questions ‘accept 8 presented in this Convention; but he would cast that vote as to him seemed right. ‘ur Tuomas Warron, of Myatt next took the stand, He is a young lawyer, who that there was a point in the question of the rutiopality of trade laws which bad not been omission he yo it his duty to supply. au extract from a let of Luther Martin (not Martip Luther, the Reformer, but a member of the Convention who framed the constitution of the United States) to lain the clause in the constitution restricting the ress from prohibiting the slave trado before 1808. The aim of his ‘was to show generally that the lawa prohibitin, e slave trade were, first, unconstitutional, and, second, hanging to the people of the South, Mr. Srrart, of S.C., the mover of the resolutions on which the debate had ‘been conducted, roge to close the Giscussion. He eaid that some years ago he happened to have become impressed with the tmportance of this mea- sure. He had introduced it a few years ago in previous Southern Conventions, and had followed it up till this time. He had hoped that this Convention would pass the resolution declaring that the laws against tbe slave trade should be re He bad expected that the measure which he 80 far advocated would certainly have been favorably received in the city of Vicksburg and in the State of Mississippi, which was, as it were, Keystone State of the slaveholding system. He thought he had presented st to convince the South that Icient reasons something should be done to protect it from the aggres- sions of the North, and that the measures already pro- posed were not sufficient to protect the South against the assaults of an active adversary. He had endeavored to show that even the dissolution of the Union would not meet the object or end the controversy, which was one of ideas, not of sections or of nations. He bad endeavored to show that the measure, and the only meagure, suited to the exigencies of the South was the revival of tbe African slave trade. He wanted to show that the South needed slaves, and that the only bor suited to the exigencies of the South must come from Africa. (Applause.) He had not found that the positions taken (Ba ‘were controverted in this discnesion. He felt that they were as strong now as they were before the discussion commenced, Until to-day not one ef them had been attacked. It had been that this measure could only be carried out successfully by the juries ofthe South being untrue to their oaths. Hehad intended to present no such position. He bad only said that, all other means failing, the ooly bulwark against ag greesion Jay in their juries. If it were objectionable that that bulwark should be erected, it on!y showed the more py the necessity of repealing the law. Adelegate here rose to ask a question of Mr. Spratt. The President said that the time at which the debate was to cloee bad already expired, and that the gentleman from South Carolina was only proceeding by the courtesy of the Convention. Cries of ‘Question, question” were heard through the ball. Mr. id he was at the mercy of the Convention. Seve ates rose to move that Mr. Spratt should be allowed to proceed. The cries of “Ques tion, question’? were ri me of them coming from Mr. Foote, Mr. McCardie declared tbat it was disgraceful, and Mr. Foote denied that it was. Several delegates de- sired to make suggestions. The President refused to hear any of them. There was much confusion and excitement as the moment of taking the vote drew nigh. The Presi- dent appounced the question to be on the amendment offered by Mr. Davis, of Migs., to the foilowing resolutions offered by Mr. Spratt, of 8, C.:— 1, Resolved, That slavery is right, and that betn; there ver 4 in the Balt ie pha he can be no wrong in the natural means to ite 2, Resolved, 1 hat it ls expedient and proper the fordign alave 16 showld be y and that this Convention will teud a influence to any 10 meawure to that 3. hesolved, Thats committee consisting of one from each slave Btate be appointed to consider of the means, consistent rit the duty and obligations of these States, for reopening the foreign slave trade and that they report their plan to the next meeting of the Convention. Mr. Spratt offered to accept the amendment as a substi- tute for his own resolutions. ‘The Prestpeni—Then the vote will be on the substitute as reported by the Committee on Resolutions, and which Resolved, That in the opinion of this Convention, State or federal, probibiting the African alave trad ‘be aboushed, Mr. Moony asked whether the resolution reported by the minority of the committee could be offered ag a sub- stitute. The Presipent replied that it conid not, inasmuch as the order under which the Convention was acting, directing the yote on the resolutions to be taken at & certain hour, operated in the manner of the prev fous question, ‘On the suggestion of the President, a recess was taken for balf an hour to permit the various delegations to do- cide how they were to vote. The delegation from Missis. sippi, being by far the most numerous, retired to one end of the room, and held a meeting there to decide what should be the vote of their State—the rule adopted the firat day of the Convention being that cach State repre. sented—no matter how large or how small the deiega. tion—should cast the same pumber of votes that it has electors in the Presidential college. Tue other delegations, ‘being smal}, had no trouble in deciding the character of their respective votes. When the caucus of the Missis sippi delegation had adjourned, the result of their vote ‘was announced by yells of exultation from the fire- eaters. The Convention having resumed ite session, the Chair put the question on the adoption of the resolution, de. claring that alllaws, State or federal, prohibiting the Afri- can slaye trade ought to be abolished. As each State was called, and one of its delegates de- clared ita vote, the announcement wag bailed by the side in whore favor it might be with loud cheers and ap- jauge. Pint \iwrox, of South Carolina, announced, with evident chagri. that the State of South Carolina, with eight elec. toral yotes, was divided on this question. Mr. Lrvincetox, of Memphis, expressed some doubt az to the propriety of his casting the whole vote of Tennessee, having only received his cred s from the Mayor of Memphis. The President, however, recognized hig right to do fo, and Mr. L. theroupon yote't ‘‘ no.’? ‘ Mr. DaBow declared that Loulsiana voted unanimously « aye.’ Mr. Jones, when Georgia was called, got up and pro- claimed, amid great applause, “Georgia, with ten voles, votes “aye.” Mr. McRan, when the State of Miesissippi was called, said be was instructed by the delegates of Mississippi to say that the vote was determined by counties, leaving each cennty to cast the number of votes to which they were entitled in the lower branch of the Legislature. There were thirty votes in favor of the resolution to eight against it; making @ msjority of twenty. two votes in favor of the resolution. The State of Mississippi, therefore, (Yells of exvltation ) voted ‘faye. The foll lowing Was the vote :— YEAS. Electoras _. Tennessee Florid: Yeas... Nays! Majority in favor of resolution.........sse08+ ‘The PresipEnt declared that the resolution was The announcement was hailed with loud shouts of delight and the most uproarious manifestations of gratificalion. In ihe midet of thi scene the Convention adjourned till Friday morning. FIFTH DAY'S PROCEEDINGS. Vicxsaura, May 15, 1859. The proceedings of the Convention this morning were made interesting by the presentation, on the part of many members of the Vicksburg delegation, of a protest against the action of the body in adopting the resolution declaring that all lawe, State and federal, prohibiting the African tlave trade should be repealed. The protest was pre- sented by Mr. Patridge, proprietor of the Vicksburg Whig, and is as follows:— PROTEST AGAINST THE ACTION OF THR SOUTHERN OONVEN> TION ON THE SUAVE TRADE QUESTION. The fone snes 8 members of the Sout pow In session in this city, in view of the that been taken end decked’ in favor of rep all ib ting the African slave trade, beg leave to enter ‘the action of the Convention for the ‘The resolution does not embody the sen‘iment of pis of the eight Fouthern States represented on this oor. evidence of that senument ie {fn the acuion of oon iene which framed their constitutions, and the laws oy {hele State Leglalatares, and the tailn‘e or refzaul of all Stale Legislatures up to thie lime to give their sanction to thie a ‘withstanding in many of them their atiention Fectly called to the subject, ts prima /ucic evidence that the sald body does not mest tne apirc bation of the weople, well known that there are now on the statute noone of pa ew Bm meey eee passed within the inst ais ‘Tate na 1857 — the introduction of African saves wishin thois borders Untee heavy, penalties 2 We deny that the delegates ta this Convention semuinent of the people of tbe States which they asaume to present on thie floor. ‘The clroummiances connected with appolniment of the members of tate body are generally of 4 secur th legion fa olin, Prenden wt he apo iy r vl le pl ene ol Urry Ol E H : 6, Because it has been avowed he chasaplons of the wes ure on this floor, that it would pass the mn of slavery in “ attitude towards the North—s ition which no true Southern patriot can but deplore, ao complishment of Pipi Re ought io resist. It has been - tofore the boast of the Bout at she had faithfu'ly o! all ber conatit and ali the fraternal that it be spread upon the minutes. ‘HH. 8. FOOTE, Vicks’ Miss. 1, M, PATRIDGE, ckaburg Whig. B. £. ORANK, Sunflower Co, J, BEGAN, Claiborne Co., ® H. CRUMP, Vicksburg. a jsburg. G, V. MOODY, Port Git W. BROOKE, Vicksburg. Talents pretest because I the ivalof the slave trade to be cont to a sound domestic and: and J algo believe the a tice system to an 8 " J. 8, HOLT, Natchez. The Presmpent interrupted the reading of the protest, ruling that that portion of it particularly which declared that the members of this Convention had no very enlarged experience in public affairs was disrespectful. n appeal was taken. Messrs. Parringr, Brooxe and Foors argued that it was not d! jl and was not do- signed to reflect on this ly. merely wanted to show that the members of this Convention, fo cen er as they were by Governors of States, mayors of cities, &., did not express the sentiments of the Southern people. ‘The State of Georgia, for instance, which ‘unant- mously “aye” on resolution, was rej bere by two Bees are and one of them (Mr. Jones) had informed the Conven' that he had all his life been carrying on a [rand warfare, without pay or ), and had expressly isclaimed representing anybody but himself and tho great Jones family, Besides, the States of Virginia, Ken- tucky, Missouri, land, Delaware and North Carolina were entirely unrepresented, and Tennessee was repre- gented but by one delegate, who was sent here by the Mayor of Memphis for a special object. They had merely desired it to be understood that this Coayeation did not rey it the sentiment of the South. . Kannepy, of Alabama, analyzed the protest, and ebowed wherein it was disres; le The re was taken on the appeal, and the decision of the Chair was sustained, ‘Thereupon Mr. Foote and Mr. Patridge declared they ‘were no longer members of the Convention, and, in a state of high indignation, they withdrew, Foote declaring that within forty-eight hours a mass assemblage of the jippi would reprove the action of the As the Convention had evidently had enough of discus- sion on the slave trade, and had finally disposed of that subject, they proceeded, in a sort of antithetical mood, to € ‘the subject of FREE TRADE AND DIRHCT TAXATION. Judge Jone, of Georgia, called up and mide an argu- ment in favor of the ely 3 resolutions introduced by parrot and reported back by the Committee on Reso- tutions :— ‘Whereas, the constitution was ordained to establish justice and tosecure the blessings of liberty to us and our posterity; and, whereas, the system of collecting revenue by duties oa imports is unequel and unjust between the two ‘Union and between the rich and the poor, manifest corruption of the government which has always proved the grave of freedom; and, whereas, the tariif system, combined with the manner of the expenditures of the federal overnment, has operated, and must operate, to the deatrno- tion of Sor commerce and to the injury of all commerce; f01 exolved, That the tariff system ought to be abolished, and revenue collected to support the government by direct taxes. He argued that, by the substitution of direct taxation for import dutice, the South would save sixty millions a year from the grasping robbery of their Northern brethren. But no, he would not call them his brethren. God forbid he would ever acknowledge an; Northern man to be a brother of his. (Laughter. By some figuring of his ewn, he made out that, since 1819, the South had lost no less than $1,600,000,000 through the operation of the system of import duties. He showed rather tnat the Congress of the United States should camp out and moet in a log cabin, than that the money of an a le should be squandered in building a fine capitol. He did not believe in tho honor or glory of a people being dependent on brick and mortar. For himeelf, his dignity was above wearing a fine coat. (Loud laughter.) He nad a plan for bringing the Yankees to their senses.” Would he appeal to their maguanimity, ain mate: tenes te Dene tittes. (Laughter Site Noche Dever, SP imvercourse with them; he would not send them a pound of cotton, a measure of rice or a chew of tobacco. There ‘was not @ State in the Union that did not support its gov- ernment by means of direct taxation. He held that a system of import duties was unequal between sections and | poner eer erga it Way the comet ‘cotton, raised © price of goods, o} People and corrupted the government. If oe ated States ports sears Ofoned wo free trade, the European Powers would have to open theirs. He showed that a pieco of goods costing originally $100, cost the consumer—with the additions of tariff, and the profits of the importer, jobber and retailer—$241; and that the receipt of $64,000,000 in duties on imports, really imposed on the people the payment of $14,000,000. ‘This he proved in this way:— Paid into the Treasury...... Paid w collectors, &e., &., &. $64,000,000 + 8,000,000 $67,000,000 +” 6;700'000 Modal) 12) suds Vad “$73,700,000 Retailer patd 16 per cent profits. 7,870,000 Miata $51,070,000 Consumer paid 80 per cent’ profits 40,535,000 ie ee eee etn 5,000 Add premium’ to manufactare Total... Add in on Custom House, &c. , &c. » ke. Judge Jones’ harangue was highly entertaining, and kept the convention in a broad grin all the time, as much for the manner of the delivery as for the matter of the Gigcourse. He is an active, elderly, energetic little gen- tleman, of infinite wit and good humor, extremely talka- tive, and, according to his own statement, he has the re- putation of being the ugliest man in Georgia. He hardly deserves the reputation. In person and manner he bears considerable resemblance to Senator Westcott, of Florida, and his voice and enunciation remind one very mucn of Senator Clingman of North Carolina. When Mr. Jones concluded, Mr. J. S. Hout, from Adams county, Mississippi, presented his credentials as a dele- gate, remarking at the eame time, that he would not have Presented them at this lato hour, ‘but that they had placed ‘is Dame to the protest offered this morning against the e trade resolution. He believed that the revival of the slave trade would Pe ipcrion to the prosperity of the South, and the apprentioésbip system he regarded ag still worre. Mr. Jouxson, of Migsiaaippi, expressed himself as coin- ciding entirely with the views set forth by Mr. Jones, and he moved that the matter be referred to the consideration of the next Southern Conven| ‘The motion was agreed to, and Judge Jones was request- ed to furnish that Convention witha copy of his speech, Mr. Corgman, of La., called up from the table the fol- lowing resolutions offered by him, and reported back from the Committee on Resolutions:— Resolved, That, in the opinion of this Convention, it is essen- tial to the prosperity of he Union, ita continued exfatence and its future advancement, that at least one line of railroad should be constructed immediately from the Mississipp{ river Resolved, Tat the South Atlantic the States ved, That the South At Gulf'ot Mexico and ihe bateson the Paste ocean are canes cially interested in the completion of the line of railroads, o1 {he $24 parallel of north laiinde, from Charieston bad, a way of alabama, an allfoad to Nckaburg on the Mississtop! river, thence by the : fn ei ere and Texas Railroad, the State of ‘Marshali in Texas, the State eat and most practicable route for the of nd passengers from ike Gouthern Atiauc und Masi Gui? Sates and ihe most convenient and aveilao at for the transportation of the amit the United States to the Pacits Staten, 7 SUmuone Of war of tes Resolved, That this ‘and important Iine of Southern railway is moat earnestly mended to the people of the recom several States through which it passes, aad to tie ald of the Legislatures of those the grounds that nm Pls, wil! conatuto’n inoat pow Fful fnstrument 10 com ine aid siren then tne So: Dllah ita commercial inde- dence, develope ite vast agricultural resoi a Bergeneral prosperity of the whole Union. en Promme A further resolution, calling on the Southern States to hold meetings and take action in furtherance of these Projects, was also offered, and the question being taken, the resolutions were adopted. Mr. Moony offered a resolution that a committee of five be appointed to report to the next Southern Coavention on the subject of the African apprenticeship system. The following resolutions reported by the committee, wore called up for action. Resolved, That this Convention reqnest the Govemors of several Bouttern States ty applat, witnout dlaimetion of party, three clizens from ench Congressional diatrot and four tr the Re, to at as gates, an i this Couveniion at Atlanta, Gary On ihe secnad Mouday in Ao, vember. 1860. Resolved, That the county courts of police or probate, or ordinary, be requested to uppotnt one delegate from each Wevolvek, Thats committee of ‘aad f verge ies ed, That a rom, thorn Blate be appointed to invite au: at Basle be, appotoies to tavile auch citizens of thelr respective Mr. DaBow offered an amendment to the effuct that the President be «thorized to call them togethor by issuing ‘an addrees to the Southern people. Mr. Moopy, of Missignippi, complained that this prop »i- tion equinted at a desire toassemble delegates at that par- ticular time—shortly after the Presidential election—to batch treaeon avd yet uparevolution, If that was (heir desire, let thein fay 0, and vot reach their object in this sneaking manner. Mr. Jonxeos, the Chairman of the Committee, who re- ported the resolution, dieclsimed haying been’ operated upon by any euch idea ke was intimated by Mr. Moody. He thought the fail of tic year the best geagou for these Southern Conventions, and therefore he had voted in Commitive for iuat resolation, £f patriotignm again tri- Southern people should be called upon to take action, not only in reference to their ity, but to their rights. It would be the time Wann ent af in the South ehovid be called upon to say whether or not they will stand by the rights of the South or tamely submit to e North, and become hewers of wood and drawers of water to the enomies of Southern interests. Mr.. Moopy moved to amend by fixing the date of the next meeting for the first Monday in May, 1861. He ar- gued tbat in the present condition of the country it was a little too goon to sound the tocain of alarm. It was not necessary to give a Southorn man eighteen months notice that some one was going to knock a chip off his hat, and to be prepared to fight. Southern talked as if they were the only people in the world; but he would tell them that Northern men had equal rights and privileges, and if they did not like slavery they bad a right to ex- preas their opinions when and how and where pleas- ed, provided they did not attempt to incite insarrection —_— their slaves. He bimeelf differed from all dis- unionisis, After some heated discussion on this point Mr. Moody withdrew hig amendment, and said he would offer another amendment, that this Convention journ sine die, and that the President be authorized to call the next m of the Convention at such time and place as think proper. This amendment, however, was cut off Pres paring of the previous question. Thereupon Mr. ly. with- drew from the hail, declaring thet he would be no longer & member of any such body. | His departure was greeied ‘with derisive cheers and piaudits. . De Bow’s amendment was agreed to, and the rezo- Jutions ag amended were adopted. ‘A resolution was algo offered and adopted for the ap- pointment of a committee to report a plan for making ‘these Conventions permanent and for having the delegates elected by the le. Another resolution was offered and adopted for the ap- pointment of a committee to report on the relative advan- e of Southern harbors. The Convention, after the transaction of othor routine business of no great importance, adjourned. FIFTH AND LAST DAY. AFTERNOON SESSION. THE CLOSING PROCEEDINGS—AMERICANIZING THR GUL¥ OF MEXI- ©, CUBA AND THE ISTIDMIAN STATES—CONDITIONAL SOUTHERN CONFEDERACY, ETO, , ETC. VicksBuRG, Miss., May 13, 1859. After the mailing of my report of the fifth day’s pro ceedings of the Southern Convention an afternoon session was held, at which, however, there were but « small num- ber of delegates present. The resolutions presented by Mr. Delafield, in reference to the notable scheme of estab- lishing steam communication between Ghent and Mem- phis, and, in connection therewith, making Leopold Stadt, opposite Antwerp, a sort of neutral commercial port, under the protection of the United States flag, were called up, and after short speeches from Mr. Delafield, in support of, and from Mr. de Bow, in opposition to the re- solutions, they were laid on the table. The Convention then took up the resolutions offered by ex-Governor McRae, and reported back by the committee, and proceeded to consider them. Mr. McRas made a cha acteristic speech in support of them, in which he exclaim- ed:—The voices from the mighty and the echoes coming back from the mighty future say to us in thun- der tones: “Why wait you? Koow you not that Cuba is your own?” This outburst of filibusiering eloquence was received with loud acclamations. Another delegate followed in a speech in favor of the acquisition of Mexico. He supported that proposition on the ground that our citizens had large claims upon Mexico for spoliage, ‘and that if we were to acquire that ropub- lic and stop the tampering of foreigners with it, the peo- ple who now employ themsclyes in cutting each other’s throats would return to their agricultural and pastoral occupations, and there would be a cessation to ‘‘pronun- ciamientos.” ‘The reasonings of these arguments appearing to be per- fectly sound, the Convention without any hesitancy adopted the following resolution :— Resolved, That the intereste and necessities of the South, as well as of the entire country, require the permanent ascen- daney of the United States in the Gulf of Mexico, and to insure in.end, the Gulf ericah sea, and the ma le an am Jeri, The eneouragement by all lawefal means of the 76. ‘Publican spirit on tbe faland of Guba, and the developement of the sentiment of freedom cherished by the natives and lverala of the island. 2. The speedy Amercanization by every lawful effort of the Tsihinian States, by which they suall be placed Under “American rule, -3. That they demand of the ment of the, United Slates, the abrogation of the Claylen. Bat, se weramont aball Wome au’ physical fofluemce to the aid of fis suocesazal example, in eneduraging the developement and. spread of ro- wabliean fr overn- principles and {ree institutions in the island of Cub: the Sateian Baie, ‘and among all the people and Bates en Resolved, ‘That the success of the republican party in the ectim of a Fresldent of the United States by a sectional ma ‘Virtual dissolution or tie ene bles which they a7 efron of the States, and in that event this Convention recommends to ths people of the slavebolding States to meet immediately In Oon- veniion to determine the mode and measure of upholding the copstitutional government as it at present exists, by preventing the installation into office of a republican Preaident, and tho in to fowaive the alavebolding Eusies aio & soptioie inepeniont lve a it et Sha ye wi a safety, , thel ‘and insti Tatlons, and make them & Power of ihe earik, = Jadge Jones, of Georgia, did not call up the resolutions which he bad’ offered in the morning session, the odject of which was to cast off all intercourse with the Northern States. As it probably would have been adopted, his for- bearance is much to be commended. The following resolution, offerred by Mr. W. P. Mauuey, of Mississippi, was called up and adopted Resolved, Thst in consideration of the very maintaining a fleet on the coast of Africa; it bel actof Congress declaring the slave trade piracy, &e; "between England and Ame" Convention, as Mis, urges apun. the geaseal goverce ‘ , ‘upon . ment the propriety of giving notice, at the earliest fosaible Roment, to england, according tothe twenty with that Powar, oftts intention fo withdraw our feet for the obligation of ‘the After the adoption of the customary resolutions compli- mentary to the President, the Secretary and the citizens of Vicksburg, and a reference to the printing of tne pro- ceedings, and with a valedictory speech from the Presi dent, General Chas. Clarke, of Vicksburg—who really co1 r- ) ness—the Convention finally adjourned to meet at Atlanta, Ga., on thesecond Monday of November, 1860. Mr. Smith O’Brien on American Politics. Mr. Smith O’Brien arrived in Boston on the evening of the 16th of May, and met with a grand reception at the ‘Tremont House, from six or seven thousatid Irishmen. In reply. to an address of welcome from Mr. Patrick Doro ‘hue, he made a speech of considerable length, reviewing his journey through the Union, repeating his animadver- sions upon the tendency of the laboring Irish in this coun- try to expend their earnings for liquor, and severely cen- suring the American party and republicans of Masgachu- setts for the recent adoption of the constitutional amend- iment. After some intyoductory observations, Mr. O’Brien said— There is sca) Ld point that Ihave touched where I have not been informed by Irishmen themselves that it depended entirely on the conduct and industry of indivi- duals whether or not they shall succeed in this country— that a fair fleld is open to every man in this country for ultimate success. In this respect it differs unbappily from our country; for there @ man who is a laborer must expect to be a laborer all his life—and a man who is a small farmer can scarcely ever expect to be a large one. Here, on the contrary, in the case of tens of thousands, as I have learned, men who came to this country with nothing but a spade in their hands, have become proprictors of land; and those who entered into other departments of business have become possessed of enormous wealth. (Cheers ) The only ex. ception to thatrule is the case of the lat upon the lines of railways and other similar works, who are in the habit of equandering for whiskey the money which they might otherwige employ in establishing an independence for themeelves. I take it for granted that in the mighty crowd before me there is not one single man who has been in the habit of pursuing this career. (Laughter.) If there be such an one, it is well that I should invoke the spirit of my departed friend—that apostle and saint, Father thew—and ask him to invite that man to abandon that insidious temptation, and to apply himeelf, like his suc- cessful fellow countrymen, to pursuits which would obtain for bim an independonce. I am happy, also, to tell you that in Canada I bave found very nearly the same success that I find in the Uni States. I was gratified to find thatin Canada as in the United States the Irish are eminently sacceseful. Iam happy algo to tell you that they now enjoy that which we strug- gled for, aud which, if we hed been true to ourselves, we =. have obtained—I mean the rigit to govern our- selves. Mr. O’Brien went om to speak in praise of the Canadian Le toes of government, and then turned his attention to e Subject of Know Nothiogism, as follows :— Now, I must tell you frankly, at the same time, that in the United States I have been frequently told be 0 trymen—ani if there are any here who are opposed’to the immigration of foreigners I am not sorry that they should have an opportunity to hear what I am about to say on the present oocasion—I have been told in various parts of the United States that their happiness in this country at one period, about three or four years ago, was very con- siderably diminished by the prevalence of a spirit hostile to the introduction of foreigners; and, in fact, in some remarkable instances, I learned that men who had lived in this country for upwards of forty years expressed a determination to leave the country in consequence of the lence of the Know Nothing epirit which at that time prevailed. T regret to aay that in some localities I have traces of a con- tinuance of taat spirit, and it has been to me a source of the greatest gricf—gricf to mo not only as & friend of my own race alone, but as a friend—for snch I sineerely am— of the peopie of the United States. (Cheers ) Because I feel perfectly assured that the prevalence of such a aenti- ment is ag equally pernicious to the people of the United States as it is to the foreign population of this country. I have had opportunities of seeing that nearly all the inbor which requires great physical vigor, such ag the labor of constructing raliroads—the labor of loading and discharg ig the cargoce of vesrels—the Iubor on the leveo New Orleans—the labor on steamboats on the large rivers—in short, every kind of Inbor whore great mugoular vigor if required, ie performed by Irian- men, What js to be thought of the policy which tands to prevent from coming to this country that industrious po pulation which bas tended so much to develope the re- sources of thie great couutry. Upon all other qaestions of American politica [aim neutral, bot upon this question of wilderness, unless you ene courage immigratioa. "Look at the Weslarn ites ‘Whad create: migrant population ‘any man who values greatness of this empire eught to feel that the encoi of emigrant Repuiations whether of German or Irish origin, is one of funda. mental features of the policy ‘the United States, Now, I take the case of Canada again. I spent a of with a gentleman, Pole, who isa member of the riage; and I find at - unconsected by property or member of the Legislative which he fives. Is is only req main in the country for three y: to that position, which is equi States. * But here, O'Gorman, or my friend Thomas Congress until he has served twelve years. Now I want to suflicient time. I want to know not a sutticient period of agreat deal too ong, but! am sorry there has been disqualification beyond the period which is int pul = Ea! may vote feslngs of the people whom I may be the feelings of the w u the subject, but this I feel assured, and meat bounden duty here open'y to express it, E Mtieon yo ua the interests of bow ve now, gentlemen, endeavored to discharge my hum- ble duty wiieh 1 undertook, of recouthing fairy % without disguise, a narrative of the impressions mada upon my mind during my tour. There is one istic of my countrymen which I have been observe in all my travels—extending through 6,600 miles, During the whoie of that course, whether in the smailes§ village or in the largest city, 1 have fouad one character~ istic, to which I have not already alluded—an und: attachment to the land of haa ag native land to interfere in ap; ‘with the daties which they have undertaken as Gittzons of the United States; but I have not found upona casion that there was any antagonism between the twa sentiments. On the contrary, I flud that the more firmiy Attached you are to the interests of the United States, more your sympathies are given to Lreland, with ali ber sufferings, all her hopes, all her future destinies. (Cheers. > sentiment of sympathy extends, [am omy, to a very great extent, te the great mass ‘Aner car population ing this country—aymathy for Ireland and ite wrongs. That Ling ng 4 ou Ought to cultivate, and so far from forgetting the ol gations which you owe to thas country, the attachment you owe to the land which re. tains the graves of your fathers, Iam persuaded that you will best consult the interests ‘of your adopted country and your home b; bec ame attachment. Mr. O’Brien wil iew York by way of Albany, and return to Ireland by the steamer of the 28th inst, from New York. ‘Vist oF THE PRESIDENT TO NorTs CaRouNa.—By thé following letter from the President it will be seen that hq intends to visit North Carolina next month. This, says & Raleigh paper, will be the first visit of Mr. Buchanan to = Southern State:— ‘Wasninaton Crry 12, 1859. Ihave been honored by your very kind invitation om the part of the Trustees of the University of North Caro~ line, to visit Chapel Hill at the annual in June next. It affords me pleasure to say that I cof- dially and gratefuily accept this invitation. I have long desired to visit ** the old North State,” and become better acquainted with a people for whom I have ever enter- tained the highest respect and esteem. The occasion literary, and not political, is just such a one ag I shi myself have selected, JAMES BUCHANAN, It is expected that the Hon. Jacob Thompson and other’ friends will accompany the President, & ELoremMent in Wisconsin.—An elopement at Oakfield, Wisconsin, is reported—Heman Warner, aged 5T years, with one Cynthia Poole, about 30 years of age. Tha female was a spiritual mediom, while her newiy found partner was regarded as one of the most staid and respec- table men in his vicinity. The affair hes considerable acandal in the community. leave families, FINANCIAL AND COMMERCIAL. Frivay, May 20—6 P. M. By the despatch from Sti Johns, N. F., of the City of Baltimore’s news, we have four days later from Europe. A reaction had taken place from the excessive move” ments of the previous ten days, and we find consols 13¢ better, cotton also higher, and breadstuffs lower and dull. It is evident that people are beginning to find out in Eog- Jand that a war between France and Austria in Lombardy is not going to put an end to commerce and civilization. Farther details of the news will be found in another column. The money market is rather quieter to-day, and ex” change on Europe is lower. The loading drawer is asking 110 for sixty day sterling bills, and no business has been done over 1103; for to-morrow’s steamers, It is likely, that the improved accounts of the Liverpool cottom market will operate to depress exchange here. By the Ocean Queen, the Vanderbilt steamer which leaves to- morrow, about a million of specie will go out; the Kanga~ TOO will take $600,000 a $700,000. The prospects are fair for a heavy shipment by the Persia, after which there is « chance that the present flurry will subside somewhat. We hear of no first class paper sold to-day above 7 per cent, and from the tone of bill brokers the amount of money seeking investment in this way exceeds the de~ mand, On call there is far more money than is needed seeking employment at five per cent. War or no war, ‘there can be no permanent advance in money here untik there arises a large demand for it; at present the demand ig nominal. We are sorry, however, to see the imporja- tions of dry goods continue on so large a scale, Tho im- port to date is $44,513,256, against $18,718,876 last year, and $40,368,845 the year before. The stock market was influenced this morning by tha announcement in the Heratp that negotiations had beer broken off between the leading lines of railroad, and stocks opened heavily. As soon, however, asthe news from Europe was known, @ rally took place, and the de« mand for stock for delivery by the shorts steadied prices till the close, Central opened at 7234, at which price tha bears sold very largely; it rallied between the boards to 7834, sold in the afternoon at 7234, and closed at 7234 bid. Rock Island opened at 625; between the boards the shorts. were extremely embarrassed by the want of stock for de- livery, and much higher prices were privately paid; at the close 63 was bid. Galena was lower, and so wera the Michigan shares and Toledo. Illinois Central ig dull at last quotations. Hudeon and Harlem ara steady. The State stocks, especially Missouris, are freely sold short by the jobbers, in anticipation of a stringent money market; and in the absence of an outside demand, the price recedes. Our people, it seems, hava not the faith in our public securities which the Britise | have in consols: when the false rumor of the Russo- French treaty caused consols to decline five per cent, tha public rushed in to buy, and the price rose four per cent in a week; but here Missouris and Virginias ara knocked down on very vague rumors and idle apprehen- sions, aud the public stands aloof. In the afternoon tha market was irregular, but the amount of business done was fair, Stocks closed dull at the following quotations:—+ Missouri 6's, 83% a 3¢; Canton, 1834 0.19; Cumberland, 170%; Pacific Mail, 73a 34; New York Contral, 7234 « 4; Erie, 73 a 3; Hudson River, 8134 @ %; Harlem, 103¢ a11; Reading, 4514 a 34; Michigan Contral, 4134 a 53 Michigan Southern, 9% a %; do. guaranteed, 31% a 325 Panama, 117 a 118; Mlinois Central, 6534 9 %; Galena, 68% a 34; Toledo, 27a 34; Rock Island, 63 a 44; Milwau- kee and Mississippi, 43, a 6. ‘We announced in our last igsue that the conference be- tween the Exic and Central Railways had been broken off,. and that negotiations were for the present at an end, as wel? between them as between the Central and the Southerm roads. Stockholders in these companies may not perbape. be aware of the true effect of this last rupture. As mat- ters stand at present, the Erie and Central are carrying cattle and passengers at rates which they have been ac- customed to consider insufficient to reimburse them for their outlay; al! the four roads are carrying freight very much below the lowest rates heretofore used; and it ig highly probable that the Pennsylvania will presently re« duce the passenger fares to a point which will insure am} actual lors on every passenger carried. The amount of oes to each road involved by this competition will vary of course in proportion to the amount of business done.’ Where every passenger and every ton of freight caused @ joes instead of a gain, the lees traffic, the leag loss; and, im this view, the present time ia well chosen for the suicidal strife. But businceg is reviving; heavy crops are ripening; the West ia getting ready to buy freely; in a short while there will be a large business betwoen the West and the sea- board. The opinion of experienced railway authorities is that when this business begins each road will lose by tha’ competition at least $125,000 a month: the aggregate loss of the four will be $600,000 a month; being at the rate of| $6,000,000 a year—thrown away by the quarrels of rail+ ‘way managers. A full knowledge of the facts renders it dificult to jug; tify the unbending policy pursued by Mr. Richmond andi the New York Central. It has been ehown that tha amount of business which might be diverted from New, York to Philadelpbia and Baltimore by tho differences ig , |