The New York Herald Newspaper, August 6, 1859, Page 4

4 NEW YORK HERALD. JAMES GORDOY BENAETS, EDITOR AND PROPRIEDOR. DFFION N. W. COBNGR OF FULTON AND NASSAU STS FARMS, cosh tm adoance Money soni dy mall whit be at the EUS fenton” Poauage wames nat received as aulecripsion Wink DAILY HERALD, hoo cents per copy, $1 par annum. No. #16 Volume XXIV AMUSEMENTS THIS EVENING, NIRLO'S GARDEN, Broadway.-Biwon's Mistars—La Sriraive—Tae Coorsns, BOWRKY THEATRE towery.—Buack Evep Scsax— BAGio TRUMPET—PTATE BECRETS. WALLAGK’S THEATRE, Sroadway.—Inise Lion—Laus Rosa. ‘ONAL THEATE™ Chatham street —Afternoon— EAE Rear-WizanD Sxiry, Kvening—TURER } ast aa, ARNUM BaRNUi’s 4 AMERICAN MUSEUM, Broadway.—After- ral We tas Wizaep. NG, 561 and 563 Broadway— —Bsvoum Azan. anion’ Hall, 472 Broadway, —bisi’s Lanp, WOOD'S MINSTREL BU! Braorian Bones, Dances, BRYANT’S MINSTRELS, Busissavas, Songs, Danci PALACE GARDEN AND HAUL, Fourteenth sreet— Vocat ans instrumental Concent. ——————— Wew York, Saturday, August 6, 185% ————_—_—_—_———————— The Ncws Via ‘Tehuantepec and New Orleans we have news from San Francisco to the 20th ult. The steamers which left San Francisco for Panama on that date had on board $1,900,000 in treasure and 700 passen- . ‘The reports say business was dull and prices The ships Storm Cloud and Dictator, York, and the Belvidere, from Boston, d out. dditional details of news from Buenos nd the Riyer Plate provinces. The letters spondents, given in another column, all the particulars. By the arrival at this port of the bark Panama io papers of June 19, There is no local terest in them. Only one death by yel" low fever was reported on the 18th. Sales of cof- fee were limited to 4,000 bags on the 18th. An English bark was chartered for Valparaiso for £800, and an American achooner for New York at 50c. By th ival of the schooner Masonic, Captain Perry, we have news from Hayti dated at Aux Cayes on the 2lst of July. Our report The country is perfectly tranquil. There is a general reform, especially in the official depart- ments. President Geffrard, being a man of intelli- gence, seeks ev: here men capable of adminis- tering inthe several branches. The Collector of oms here has been changed. President Gef- will visit the South next month. There was a lively time in the Board of Alder. men last evening on the nominations to the Croton Board—the votes not being partisan but politic: There was quite a split in the parties—the opposi- tion and the democrats voting on each side togeth- er against their political associates. Mr. Thomas B. Tappan (democrat) was confirmed as Assistant Commissioner, by a vote of 14 to 2. The nomina- tion of Mr. Alfred Craven, after considerable de- hate, was confirmed by a vote of 11 to 5. The nomination of Mr. Van Schaick, for President of the Croton Board, was laid on the table by a vote of 9 to 7. The subject created considerable interest and attracted a large attendance in the lobby. At an earlier hour of the evening cer tain resolutions regulating the Hoboken ferry, cal- culated to accommodate the public, were presented. The Board adjourned to the first Monday in Sep- tember. ‘Bhe Coroner's inquest in the Virginia Stewart case was held at the New York Hospital yesterday. For a full report of the proceedings, together with a sketch of the closing scenes, we refer our readers to another column. As policeman Connell, of the Nineteenth pre- cinct, was returning to his home at No. 129 East Fortieth street, on Thursday evening, he learned that two boys, whose parents occupy apartments in the same building, had found a large package of counterfeit bills. He questioned one of the lads, when they told him that they found the money in the cellar between the foundation and the timbers. The bills proved to be counterfeit “tens” on tho Oneida County Bank, and the quantity seized amounted to $6,400. They were well executed and calculated to deceive even the best judges of paper As far as could be ascertained, none of nterfeits had ever been passed in this city No clue could be obtained to the counterfeiters. The court martial of Major Cross continued yes- * terday, anda mass of official letters was read by the Judge Advocate. The most important feature yesterday's proceedings was the testimony by which the accused proved that he had paid the States government nearly the full amount jebtedness. At the meeting of the Health Commissioners yes- terday resolutions were adopted which, together with the action previonsly taken in regard to the up town piggeries, will lead to the removal of y establishment of this nature iu the city south sixthstreet. The City Inspector reported having seized large quantities of bad meat in Wash- ington market, and also that hog cholera prevails extensively among pigs in this locality at the pre- sent time. The arrival of a vessel from Sierra Leone was also reported with only three sick men on board, the remainder having died on the passage of bilious remittent fever. Astcam boiler used in the paper’ mill of Ran- dolph, Van Liew & Co., at Bloomfield, New Jersey, exploded last evening, wounding one man so se. riously that he is not expected to recover, and in- juring two others severely. The cotton marke was inactive yesterday, and sales quite limited. The hoavy failof rain during the greater part of the business hours of the day tended to check trarzactions, In the absouce of sales of importance the market closed nominal at quotations given in another column, Flour was agein heavy, and cheaper for the Common graces of State and Western. Southern flour ‘was also easier, while tales of all kinds were limited. ‘Wheat was firmer, and snpplies of prime to choice new were ecarco, while sales were modcrate, among which were prime to choice white Kentucky at $1 56a 6165, and prime Southern at $1 50a $156. Corn was firm, and in fair deraand at 76c.a78¢ for Western mixed. Pork was irregular and lower, with sales of moes at $1480 0 $18 8734, thin mene at $18 8734, and prime at $10 70 0 $10 8734, and 1,000 bbis. were sold, deliverable in the first fifteen days of October, at $15. Beef was heavy, while lard wasfirm. Sugars were without change of moment: the sales embraced about 800 bhds. and 507 boxes, at rates given in another place. Freights were firmer, with more offering for English ports. Among the engagemenis were 6(0 bales of cotton for Liverpool at 5 324. a 3.164. Yacutixe.—The squadron of the New York Yacht Club will rendezvous at Whitestone to- day, Preparatory to their start on their usual gtand summer excursion. They will number up wards of fifty splendid yachts, and will proceed . up the Sound together to Edgartown, Martha’s Vineyard, under the command of their new Com- : modore, Edwin P. Stevens, Esq. We learn that this gentleman has entered upon the duties of his command with a spirit which Md fair to eclipse the nautical ardor of his brother, the late Commodore John C. Stevens, We hope that when the squadron gets to Edgartown, and its members begin to feel their sen legs, the new Commodore will give them a run out to sea, and extend the cruise down to Boston and Portland. With a squadron composed of over fifty fine ves. sels, it is time for the New York Yacht Club to take a first rank in amateur seamanship, and show that it possesses pluck equal to the wealth, of its members. ‘The Reviwal of the Afstcan Slave Trade in the South, and its Northern AMuattoas, We publish today another letter from Wash- pgton on the practical revival of the Africaa slave trade in the South, in which our intelligent correspondapt, in the premises; earnestly maia- tains the authenticity of his startling informa- tion upon the subject through he-e columns a few weeks ago. We are thus assured that“ every syllable” of that information “ia :¢ a ion to the landing of Jarge cargoes of imported savages on the coast of Florida, was strictly true,” and that this contraband business along the Florida coast is carried on very extensively. We are further informed that there are depeta for the reception of ihese “savages” in over twenty Southera cities and towns ; and that in three of these de- pors one gentleman bad seen altogether some vine hundred Africans, Another geotleman, in- terested in the business, estimates the number of cargoes successfully dispersed ‘nto the Soutoern interior, within eighteen months, as high as be- tween sixty and seventy, iuclacing an aggregate of “ savages” of perhaps over fifteen thousaud. Now, gtanting that the secresy and mystery necessarily connected with such lawless enter- srises Go inevitably lead to exaggeration, we still wiw-we that, touching the practical revival of the African slave trade in our extreme Southern States, our correspondeat may be relied upou. His means and sources of information on the sub jvct ee extensive and respectable, including some of cur best informed Southern politicians; and we Gare say that it isto. a well grounded alarm ou their part at the drift of this dangerous move ment, socially and politically, that our corres- pordent is mainly indebted for his astounding disclosures. Nor does it require any vidlent stretch of credulity to aceredit his statements, considering the facilities which were afforded for the successful distribution of the slave cargo of the yacht Wanderer, in the very face of the guardians of the law, local and federal, and con- sidering the temptations of the almighty dollar to the importer, his consignees and the contract. ing purchasers of these “ savages.” This is the Southern side of this alarming movement; but it has also a Northera exposure. It appears that most of the vessels engaged in this nefarious traffic are not only built at the North, but are fitted out at the North, “with a full knowledge of the use to which they are des tined, and with an eye to a share of the profits.” We are thus told that there are at least “two vesgels being prepared at this moment for s -lave trip from the port of New York, and that a coa- siderable number of such vessels are being made ready for sea in the New Eugland States.” Thus, while the extreme Southern States are furnishing the depots, the extreme Northern States are sup- plying the veesels in these joint stock specula- tions between Southern nigger-driversand North- ern nigger-worshippers. ‘Bhe almighty dollar fs the charm which makes them a band of brothers in this profitable business; but beyond their common financial interests, they are as widely separated as canting hypocrisy and « bra- zen defiance of law. The Southern African slave trader boldly avows his principles and his purposes; his North- ern confederate, while jingling in his pockets the dirty gold received from the profits of a slave cargo, will preach by the hour the atrocities of Southern slavery and the impudent demands of the “slave oligarchy.”” We have expressed our suspicions that Thurlow Weed, for example, be- longs to this class of Northern nigger-worship- pers. And ie he not open to such suspicions? Is not everything fish that comes into his net, from a “free wool” lobby fee of five thousand dollars, to a joint stock lobby speculation in a Georgia uavy yard? And if the cotton planters of Georgia will pay a good cash price for import- ed niggers, insuring a large profit to the shippor is Weed the map, or is auy such slave-pitying and slavery-hating black republican lobby spec- ulator the man to refuse a venture to the coast of Africa? But while our Northern Puritans and black re- publicans are fimancially implicated in this “in- | famous traffic,” we protest against their thrusting the political responsibilities thereof entirely upon the democratic party, or the controlling Southern wing of that party. The simple truth of the mat teris, that these Northern abolition confederates in this African slave treffic are endeavoring to make a double system of profits out of it—first, from their slave ships and cargoes, and secondly, from a hue avd cry against the Southern demo- cratic party as a party resolved upon the revira! of this African trade, with or without the autho- rity of law. The pot may call the kettle black- amoor, but we do thick that while our Northern nigger-worshippers have their “long, low, black schooners” dedging in and out among the creeks of the Florida coast, with “savages” bound “for Cowes and a markut,”’ they should touch ginger- ly upon the horrors of the African slave trade, Tue Last anp THE Crowstne Epict From Governor Wisk.—It was a shrewd remark of Tony Lumpkin, that “the inside of a letter is the cream of the correspondence; and so an inside view of an ambitious politician, like that which has been furnished of Governor Wiee in the dis. clorure of bis last manifesto on New York poli- tics, is worth all the outside embroideries of a hundred learned essays intended for the public eye. Our city cotemporaries, with one excep- tion, accept this remarkable edict from Rich- mond as the genuine article, aud they are right in doing 0. The exception ia the Daily News, which naturally enough hesitates to whistle its choeen hero down the wind. But the News will be compelled to admit the eoft impeachment, and the sooner, perhaps, the better. Let Governor Wise be laid aside for the present, and let the Nas proceed vigorously to the battle for the delegates to the State Convention, and there may yet be peace in the democratic family—par- lor, kitchen and coal-hole—a cordial reunion in September, and a great victory in November upon the paramount issue of Seward and his treagonable and revolutionary Rochester speech Tue Press axp THe Prerenvep Geoora- PurcaL Errors or rue Henan—There are a number of small potato journals published in this city, which endeavor to make up for their want of enterprise and attraction by endeavoring to pick flaws in the Heratn. It is easy enough to get a small diamond without an imperfection, but asyet no Kob-i-noor has been discovered without one. We do not pretend to be without flaws, but we lay claim to some manliness, When the news of the treaty of Villafranca first arrived here, we stated that Austria was to re- tale the fortresses of the great equare, Several papers, thinking that they had found an oppor- tunity of choeging us with geographical igno- Tance, pretended that we did not know what the boundary line of Lombucdy was, because we an- nounced the retention by Austria of those four fortresses. We have waited severe! days for our Correctors to rectify their own erzor, but as yet they have not had the manliness to do it, NEW YORK HERAL,), SATURDAY, AUGUST 6, 1859. What is the Reilgtous Mar toy of Une Itallan Confedersaaicn t The correepondenta of the aglish journa’s, writing fram € any about the peace, do 20: understand what they are writiog about, avd mapy American jonrnsls are equally pozzied as to the meauiog of the new Italian Confederation, and write the purest nousense on the sub ject. The “ first con of the churcn” well knows what be means by the peace of Villafranea, aua what be means by the political reorgavization of Italy under the Presidency of the Pope But it is beyond the comprehension of the spal low and the sbort sighted, who only seo in it an eviderce of bis conscicus weakness or of his fears, They bave not tbe sagacity to perecire that the design of the Emperor of the French is to margurate a new era in the* Catholic cbhurch—an epoch which will not mark its speedy decline and fall, but its regeneration, whence it will take a new start and eater on 4 pew creer of civilization, in which it will ab:orb the numerous sects which revolted from it or split from each other. There is very little real difference mow between the Catholic and the Protestant churches. The turmer is 20 longer what it was, and its members do not now believe in the absardi- nes which were grafted upon it in the Ages. The Protestant sects are all be- ug to feel that they have failed in maintain- ing the spirit of Christianity, and there ig a ten- cency am(ng them to return to the o'd C ssholic with its sublime ritual, in which the im- ution of the cevout can find attractioss urd vbarms fur which it will look in vain in the dey Protestant creeds, with their speculative the- ology, which the most intellectual and educated minds can scarcely understand, but which are ansolved riddles to the great mass of the com- wopity. Tbe Puseyites in Eogland, and the movement of Dr. Bellows and his friends ia this country, are but indications of the general ten- dency, And ifreligion, with its genial warmth and its immortal hopes, is to be preserved in the world, and cold infidelity is not to overrun all Earope and America, there is nothing lft but a return to the Catholic church, purifies, recon structed aud adapted to the wants und the civili- zation of the age. Louis Napoleon, the man of the age, understands this, and its accomplish- ment is bis great mission. The Catholic Church owes its first power to the Roman Emperor Constantine, who, being con- verted to the faita, not only stopped the persecu- tion against Christianity, but made it the estab- lished religion of the empire, and acknowledged the Bichop of Rome as the chief bishop of the Chri-tian Church. Pepin and Charlemagne, by their grants, established the temporal dominion of the Roman Bishop, and laid the foundation of bis political power in Europe, which attained its highest pitch under Hildebrand, a Pope who was at the same time a great reformer of the church, and a mighty potentate. His ideas were carried out still more boldly by his successor, Innocent IIL, who was hardly second to him, and who, young, noble and intrepid, united with a spirit of ecclesiastical usurpation which non? had ever carried so far before, the mure worldly ambition of consolidating a separate principality for the Holy See in the centre of Italy. The contest begun between the German Em- peror Henry IV. and Pope Gregory VII. (Hilde- brand) for the independence of the church was long continued by their successors, and the cele- | brated parties called the Guelfs and Ghibelins, of Lombardy, took an active part—the former in favor of the Pope, and the latter in favor of the Emperor. Nearly the whole population was di- vided between them, just as that of England has been 80 long divided botweeu whigs and tories, and as the people of the United States used to be divided between whigs and democrats. There was one important eource of power by which the Popes were greatly strengthened, and that was the Universal Council, which was es- tablished under the authority of Constantine, and consisted of commissioners from all the churches of the Christian world, and who, consequently, represented the church Catho- | Pade lic, or universal. The first of these Councils | was held at Nice, A. D. 325, and the last at | Trent, in 1546, the same year in which Luther died. The Bishop of Rome, being first in rank, presided at the councils, and thus gained great pre-eminence. At these assemblies platforms ot doctrine were laid down ana voted for just as | do the heads of the democratic party in their | national Conventions at Baltimore, or Cincin- nati, or Charleston. As the power of the Popes and of the Roman Church became consolidated, extended and firmly established, corruptions and absurdities crept in, till, in the time of Leo X., the open sale of in- dulgences precipitated the Reformation; and the cold, argumentative minds of Northern Germa- by, Switzerland, Scotland, Sweden, Denmark and Norway not only revolted against doctriaes and practices inthe Roman church which cer- tainly did not belong to it originally, but againet its whole ritual and system of worship, invented by the warm hearted Italians—children of the sunny South, with whom the coarser Northerns had little in common. The Roman ritual is formed more for the imagination, and addressed more to the eye and the ear than to the intellect. ‘The fine arts are its handmaids—painting, sculp- ture, music and poetry. Thisis because the Ita- | lians live in the open air of their lovely clime, and are familiar with the sublime and beautiful forms of nature, In cold | and harsh climates, on the contrary, the people live in-doore, and the mind having nothing external to feed upon, turns in- ward on iteelf, and much reflection and specula- tion are the results, In England, which is half Celtic and half Saxon (for the asacient Britons were all Celts), the Reformation gained ground, not so much from conviction as from the despot- ism of Henry VIIL., who wanted to be head of a cburch like the Pope, and to gratify his beastly passions with impunity and with- out restraint. The Reformation only suc ceeded among the Northern or Teutonic races. Among the imaginative Celts of France Spain, Portugal and Ireland, Protestantism ha never made any headway, and never will. To this day, as a general rule, the Protestants arc Saxons, and the Catholics Celts. The French Revolution, it is true, ‘was a reli gious and philosophical, as well as a politica! revolution, and the seeds of it were sown long before in England, and in the Revolution of this country. But in its religious and philosophical aspect the French Revolution tended not so much to Protestantism as to infidelity, for Protestantism could not take root in France. When the first paroxyams of the Revolution were over, the popular mind re- | to travel over. ty the Divert Among the simp vinces they only pa y succeeded bed to wage 8 War alunoet of exterun Vevade to ove i ruccere wer Xterpal sunnisiva, After the 4803 Of Protest, apt gove acre of Sa | Bertbolowew, the perseontion ofthe Waldenses | 1» Pieomont, the estes of Nuntes by Hears LV. | d nd to the perseeation of | ofthat edict by @ order of the ntigent in Eu- ion by Pope rope, aud the; B XIV. in 1773, the 2 Revolution in twenty years after, and the + on of the Iaquisition by Napoleon Bonaparte, were ail events which coninbuted, directly or indiseetly, to reduce the Papal power in Europe to the mere shadow of what it was, But Boneparte saw that the Catho- lic religion itself hud a strong bold on the affec- tions of the people in France and other Catholic countries, and therefore he restored it to its le- gitimate porition, Hud he been permitted to carry out his ideas he would bave probably re- stored the Pope to Rome, and made him the head of an Italian Confederation—not only for the sake of Italy, which he loved, but as aa effectual barrier sgainst the encroauhments and aggran- dizement of Austria. “That swelling epirit,” says Su Walter Scott, “entertained the proud, the noble idea of uniting the beautiful peninsula of Italy into one kingdom, of which Rome should be once more the capital ” Nepoleon IIL. is now in a position to realize the ideas of Napoleon L, modified by his own experience and by the rapid intellectual progress and changes of ha¥a century. By erecting an Itajian Confederation and placing the Pope of Rome at irs bead, he establishesa power'ul go- yv-rnment, his friend and ally, on his own fron tier, and between him and Austria, whose pre sent Emperor he bas won by the religious idea of the Confideration. And he gives the Catho lic religion a new lease of power, and makes it an sgent of extensive civilization. Stripped of the mummeries which were heaped upon it in the dark +ges, and its fascinating ritual blended with phosophy, and adapted to the progress of the oge, it will tous become a religion suited to the Protestant as well as the Catholic mind, and, superseding the myriads of Christian eects, will regain the position it lostin Europe. Had this course been pursued at the time of Luther and Calvin there would have been no Protestant Re- formation, but a Catholic one, like that of Hilde brand, witbin the church itself. The religions of Protestants and Catholics are at bottom the sume. They are both founded on mysteries which cannot now be understood; but the codes of doctrines and morals are essentially alike, while the Catholic church has the advantage of its magnificent ritual to kindle devotion, to touch the goul through the senses, and to appeal to all that is beautiful in nature and art to win the affections to Heaven and to God. Such is the grand design of the Emperor of the French, Tur Late Ramroap DrsasTer—IrreEsron- swuary OF Ratway Compastes.—Accordiog toall accounts there are no means of making the directors of the Northern Railroad pecuniarily responsible to the sufferers by the recent dread- ful accident near Schaghticoke. The company is, it appears, hopelessly bankrupt through its own improvidence and mismanagement, and nothing can be squeezed out of it in the shape of money compensation to the families of the persons who have been so cold bloodedly sacrificed by its neglect. As there is no way of reaching the pockets of the shareholders, the men to whore indifference to their duties this dreadful disaster is attributavic chonld be made criminally re- ponsible. If the law provides noremedy for cul- pability euch as theirs, then recourse must be had to fresh legislation on the subject. Toe same causes which produced this dccident are actively at work upon all our other railroads, and if things continue to go on in the same fashion, in a few years there will not be a line in | the Union which will be in a sefe condition What then will become of the families of the unfortunates who may be killed or incapacitated for labor by the accidents that will be constantly occurring? The State Legis: latures should at once take measures to secure such aresponeibility, pecuniary or penal, on the part of railroad directors as will awaken them to a proper sense of the obligations which they have contracted towards the public, and thus prevent the recurrence of such dizasters, The subject is of course surrounded with difi- culties, but they can be overcome. The simplest and most direct remedy is the one that will have the best chance of escaping the formidable influ- ences that will be brought to bear by the rail- way companies to defeatit. A short time ago one of the charivari papers threw out a sugges- tion which, although intended merely asa humor- ous illustration of the necessities of the case, is perbaps as effective an expedient as can be de- vised. It proposes that a seat shall be coustruct- ed on railway locomotives immediately over the cow-catcher, which the President, or one of the directors of the company, shall be alternately compelled to occupy. We have no doubt that if this plan were put in execution it would be at- tended with the hagpiest results. Whatever may be the opinion of others as to its merits, we re- peat that the law should afford some sort of pro- tection against railway companies whose bridges are known to be as rotten as their finances. Private Piacerres any Posric Hearn — Not only does the existence of that abominable nuisance—the piggeries up town—infest the whole locality around, destroy it as a place of residence, and seriously damage the price of property, but it renders the only modes of egrees and irgreas to the city of persons in carriages and on horseback unendurable, No one can venture on any of our avenues or roads in the upper part of the city, with a view to get into the fresh air of the country, without pass- ing through the pestilential atmosphere and sickening stench of the piggeries first, por can be return without having the fragrant air of the ficlds and woods completely neutralized by the same abominable ordeal. City Iuspector Delavan has undertaken a vigorous war against the piggeries, and it will be seen by our report of the Board of Health proceedings yesterday, that this body has fully endorsed him in his laudable efforts to rid us of the nuisance. We hope that the City Inspector will at once sweep the whole island clear of the piggeries. They have no business in the vicinity of a crowded metropolis like this. At one time it was thought inrpoesible to get rid of the pigs, those public scavengers which roamed turned to Cathoticisin, in which it was a'ded by the wisdom of Napoleon, who restored the Catbo- lic religion a8 a necessary element of govern ment and civilization, which had heen abolished {in droves almost through every street in the city: but nevertheless they were driven out. Let us send the piggeties after the pigs, Mr. Delavan. Se Say The Erle Mattueod tm dhe Bands of 0 Recetver, The Hric ratlrond gees into the hands of 2 re- ceiver v4 Boom a8 OBE Can be found. Fe is aatd that this p: ing “is a frieadly one, and de- signed to protect al! interests, inctading stook- holders aud nusecured bondbolders againgt hos- tile oreditars.”’ Tria tea protty way of phrasing it, but it is only aa cawy letting down of “ the stockholders a4 unseoured bonAbelders,” to a fate as cer- tain as (hat which attended the unhappy travel- lors over the bridge of Schaghticoke, bat not quite ¢o shocking. And then those * hostile oredjtore.” No doubt they wanted their money, and hence their hostility. The rascals, Take the Jaw of them, and cheat them out of it. Waat business have they to want their money back? Protect the poor unsecured bondholders and stockbolders, sod if there is anything left after the expenses are psid we hope they may get it. The fate that has overtaken the Erie Railroad is already spproaching for many of a large class of roads of which the Erie iss representative. They are just as rotten 98 the bridge at Schaghticoke, acd will let their stockholders and bondholders down in just the same way. We have said that the Erie Railroad isa re- presentative of a certain class of railroad enter- prises in this country. In building railroads among us three different systems bave been pur- sued. At first it was supposed that for euch a work it was necessary to raise a large capital by actual stock subscriptions, the instalments on which, collected in cash, went to pay for the work as it progressed. A few roads were built on this plan, but it was found tobe slew. Capi- tal for such investment was not abundant, aud, besides, it was found to partake of the ridiculous old method of not getting a thing till you were able to pay for it. Then some of our great fiaan. ciers invented another plan of building railroads by borrowing the mouey. Here wondrous skill in the art of borrowing has been displayed. All binds of subterfuges, representations, schemes, games acd dodges have been resorted to. The Erie is their perfect representative. It cost thirty-nine millions ofdollare to build it, and it is worth fourteen millions today in the market, perhaps, The borrowing system was goon played out, for capitalists saw through it. ‘then came the grand public land grant sys- tem, of which the LIilinois Central is the representative. That road owns half of the State of Iilinois, makes and breaks its Governors, Senators and Representa. tives, and has its finger or its foot in the nomina- tion tor the Presidency of the whole Union. With the fate of the Erie we may safely as- sume tbat the destiny of the compantes that built through the borrowing system, based on bonds and mortgages, is fulfilled. Their time has come. They must tollow ia the footsteps of their leader and representative, and give up the ghost, handing over their effects to their mort. gagees. What manner and class of persons these are may be best illuetrated by the relation of a fact: During the height of the panic in 1857 a prominent railroad eame into the market for a Joan of several millions of doWars. It was pub- licly announced that the company must have the money, and bids at any rate would be ac- cepted. The time was not propitious for bor- rowing, when, to use a cant phrase from Wall street, money was worth one per cent a minute; and supposing only sixty per cent was bid by parties who knew what they were about, the en- tice property of the company was mortgaged for the debt, By such operations as these, direc- tors, presidents and cashiers have been able to grow wordrously rich, and to live in fine brown stone houees on the Fifth avenue, spending at a tate double their income. We know this state of things cannot be agreea- ble to the stockholders who have. put their money into the road, if, indeed, there are any rach. We incline to believe that many of the roads now figuring os great companies have only enough steckholding timber to make a presi- dent and board of directors of, and that the rest of the fabric is built of just such rotten stuff as the bridge at Schaghticoke. Roadways built on paper piers, and suspension bridges held up by financial kite strings, can be found ail around us. Butif there are any such things as real stockholders, they have, in losing their morey, one consolation. The roads have been built, the value of the adjacent lands has largely increased, trade aud travel have augmented, and the roads, such as they are, are in existence for the benefit of the country at large. They can think of these things, and though left with empty pockets, their patriotisra may be appealed to and relied upon by the keen shavers who have shorn them, to keep them in good humor. We have many more roads the desperate condi- tion of whose affairs will soon require legal action to protect them from “hostile creditors.”’ Tue JouURNEYMEN BAKERS AND Sunpay Work — We perceive, by a call of the journeymen bakers of this city, that, notwithstanding the early hours that class is accustomed to keep, they want to be “aroused.” They have issued a call for a meeting, with a view to induce their employers to abandon Sunday labor, and allow them one day’s recreation in the week, We incline to the opinion that grievances of this kind work out their own relief better than either public demon- stratione, or strikes, or combinations can effect it. There are some kinds of business—the newspaper business as well as others—which require seven days’ labor, and many which can be accomplish- ed with efx, some kinds of labor requiring only six or eight hours a day, and some demanding twelve. It would seem that the parties who ua- dertake to furnish a large community with such a necessary article as bread would be among those whose labor may require the most uaceas- ing devotion; but why cannot some system of re- lief gangs be agreed to between employers and employed whereby the journeymen bakers can divide the Sunday work and the Sanday rest fairly between them? We thiok that six days’ labor in the week is enough for any one. Even the cattle have their days of repose, or if they have not they die off in a short time from ex- haustion. We suggest to the joutneymen bakers, in the kindest spirit, that an amicable understand- ing with their employers would he more likely to effect their object than any combination or pub- lic assemblage. THe Lare Sovrnern Exxecrions.—According to the returns received yesterday, the opposition in Tennessee have gained very largely upon their gubernatorial vote of the last preceding test election, and bave gained at least two mem- bere of Congress. They have done this by fight- ing the battle upon conservative principles, in- stead of flying off at a tangent like their brethren in Kentucky after that rufnous fire-eating ab- straction of a slave code for the Territories. From North Carolina the scanty returns received indicate the continued ascendancy, without ric mment, of tb sume, however, th Virgiuta, Kee- tucks, Tenuesteey aud Norta -Carvtioa, cuough bas been dove in the South to settle the que tion of the next Congress conclusively agninat the democracy, Beyood this the cocfusion of Southern parties sod po maing as ia- explicable as ev: in the course of a werk or two, when “ counties” iuvolved in these late elections eball bave rendered im their returns, we may have some light for a Pre. sidential horoscope. Where there are very few railroaés and telegraphs, but plenty of mouutaing and slow couches, we must be patient. Whe Era of Conventions. This is, par exoellence, the country of convea- tions, They belong to our peouliar institutions. Every pursuit aud business of life, every subject of speculation or thought, whether it be agrical- ture, trade or commerce, the sciences, the useful or the fae arta, government, politics or religion, the affairs of earth, or Hell, or Heaven—each has its convention, where all that relates to it ‘ediacussed. Just now the conventions are in full blast, and in a few weeks the agricultural gatherings will take place. Hvery State has its sgricultural fair, and there is one national fair for the whole Union, These gatherings appear fo have done some good for agriculture, and haye accomplished something in the way of pro- ducing mutual admiration. There have been railroad conventions without end, and the more we bave had of them the more bridges have broken down and the more lives have been sacrified to the Juggernaut of gain, There bave been Southern commercial conven- tions, in which the most arrant nonsense has been ventilated and every well established principle of commerce ignored, There have been political conventions without number; and what good, we would like to know, have they done for the com- munity, or inhow much worse a condition would the political affairs of the country be if there never bad been & convention of whigs, or demooraia, or black republicans, or Kuow Notbings, or abo- litionists, or fire-eaters? There has been lately a negro convention, at which George Downing presided. Does any one suppose that will coa- tribute to the abolition of slavery or the cleva- tion of the colored brethren? There have been free lovers conventions ; women’s rights conventions, in which the di- mensions of the crinoline,asd the liberty of wearing breeches have been the importavt qnes- tions under consideration ; and there have beem “Baby Conventions,” to exbibit the best speci- mens of native human manufacture by way of illustrating the art of breeding the genus homo. How far the information derived from these as- semblies has been productive of a healthier race of children we will not undertake to say. The discussion would be rather revolting to our readers, There have been temperance conventions ia yast numbers, the principal effect of which has been to promote the liquor trade—for instance, at Auburn, where the firm of Rhodes & Seward has done euch a thriving business. At Springfield is now being held the Conven- tion of the Association for the Advancement of Science. When they succeed in equaring the circle, or in solving the problem of perpetual motion, or in explaining the connection between body and mind, or the law of volition, or the principle by which like begets like, the world shall hear of these: discoveries through the co- lums of the Henaup. This day the spiritualists meet in convention at Plymouth Rock, with Judge Edmonds, ex-Senator Talmadge, and the other Icaders of the sect, all glowing with pro- phetic fury to make known their revelations to mankind. At the late meeting held there to lay the foundation stone of the national monumeat ‘o the Forefathers, there was a dispute as to which of two families belonged the honor of| having the ancestor who first put his foot out of the Mayflower on “the Blurney Stone of New England.” Now, the epiritualists, with Judge Edmonds at their head, can easily settle that] knotty question while on the spot. We under stand that enormous quantities of tobacco and brandy are to be consumed at this convention, it being among the doctrines of the spiritualist that we can eat, drink, and do many other things for the use and benefit of the spirits in the othe world. Accordingly, some indulge in numerous drinks from censcientious and religious motives and not from the love of the liquor. They dri: merely because the tongue of some thirsty sou in the spirit world, like Dives in the parable, parched and cleaving to the roof of his mouth and though there is water all around he canna get a drop to drink. Judge Edmonds ind triously chews tobacco from morn till night, and from night til! morn, for the gratification of son friend in one of the spheres who delighted in th weed when here below, but cannot get a quid the realms above. The Judge hates the d thing, but zealously performs the disagrecabl duty of chewing as an act of pure piety. Coul the aseembled epirits just iaform us who is to the next President of the United States? B doing this they would do a very generous ac and eave a world of trouble. There would be a necessity for any of the political conventiog which are to be held with a view to the solatid of that question. Last of all, we are to have a convention settle the basis and the superstructure of ti new Catholic religion, which is to remodel old and absorb all the ecattered fragments in which Protestantism is split. We trust that this movement the leaders will be successfi for though it is to be discussed in a conventia it is the great idea of the ege, both in the O World and in the New. We hope Archbish Hughes will attend and look after the interes of his Metropolitan Archdiocess in the nf arrangement, ANNIVERSARY OF THE ATLANTIC TeELKaRA De.immiumM.—Just one year ago yesterday whole world was roused to a perfect delirium the news that the Atlantic telegraph cable rafely laid to its final points at Trinity Bay Valentia. All through this country—and throu Evrope by the agency of the mysterious co eelf—the intelligence ran like wildfire. great feat was accomplished; time and space annibilated; the two continents were hencefy tobe one. We know how the popular exo} ment was manifested here. Sermons preached magnifying the virtue of the teleg glorifying the wonders of science, human 6 the progrees of the age, and giving a little c1 end rome thanks to Providence. De Sauty, and Hughes, and Field, and Hud became household names, and many others did very little toward the result, and some tried to doa great deal bnt did nothing, great glory therefor. The Common Councél| & congenial jollification, fer which the patio emartly, and to complete the féle wo ug burned up the City Hall. But on sober second thought, poople beg’ Perhap