The New York Herald Newspaper, January 24, 1862, Page 4

4 NEW YORK HERALD. JAMES GORDON BENNETT, EDITOR AND PROPRIETOR OPFION N. W. CORNER OF FULTON AND NASSAU STS. dance, Money sont ty malt will beatthe fa ths coclor, “None but Wank bills Current tn New York THB DAILY HERALD. wo centeper copy. $7 per annum. TRE WKEKLY HERALD, wery Saturaay, af siz cents copu,or $Sper annum, the European Edition We h Ste doa pack of the Conttnont, bath nc tactede posingsy the or a Galjernis Edihon om the Lat MUR ond 2hat af ach whom eats ‘couy, or 82°19 per annem. FAMILy HERALD, on Wednesday, at four cents per ‘or $2 per annem. “HoLun taper CORRESPONDENCE, containing anon. whiciad from omy quarier of the words ack lee paid /or.”" sap Oum FousiGN CORRESPONDENTS AnD PARTIOULARLY REQUESTED TO SEAL ALL anv Pack. 4028 SEN? OB ‘NU NOTICE taken of anonymous correspondence. Wedono retven comacnicat ions ADv ERTISEMENTS renewea im the Weexty Heratp. Famity HERALD, and in the Fwrorean Editionn. ‘ia . 1B PRINTING execuied with neatness, cheayness and de isements ine Volume XXVIII AMUSEMENTS THIS EVENING. BLO’S GARDEN, Broadway.—Kixe Huy IV. WINTER GARDEN, Broadwa: or Tux Nicut. WALLACK’S THEATRE, No, St Brosessy —A Cone TOR THK LxaRTAcux. LAURA KEENE’S THEATRE, Broadway.—(ur Axent- caw Cousin. NEW BOWERY THEATRE, Bowery.~Scorro—Baw- BOOKLING—IRTER LBL. BOWERY THEATRE, Bowery.—Sticaney’s Navionat Crmcus. NataD QuuEN—SENTINEL BARNUM’S AMERICAN MUSEUM. Broadway.—Day and Evening.—Qypiva—Hirrorotanus, WHALE, AND OTHER Cu- miosinizs. BRYANTS’ MINSTRELS, Mechanics’ Hall, 472 Broad- way.—Wuo Siavck Bitty Parrerson. HOOLEY'S MINSTRETS, Stuyvesant Institute, No. Broadway.—Emmoriay Soxas, Da: i eau Daxcms, &c. MELODEON CONCERT HALL, No. 539 Broadway.— Sones, Dances, Buutxsaues, &c.—Houipay ix Inzsas CANTERBURY MUSIC HALL, 685 Broadway. Dancxs, Bemuxsauns, AC.—-Nigut’s Apventumnsy ne GAIETIES CONCERT ROOM, 616 Broadway,—) ae ENTRRTAINMEANTS, BALLETS, PaNTOMIaS, Pa AMERICAN MUSIC HA! ets, Pantomimes, c.—! . 444 Broadway.—Sonas, Bar- RAY PainiEx. CRYSTAL PALACE CONCERT HALL, No. 45 Bowery.— Bvaiusavxs, Sones, Danci BulGaND's Vata. m PARISIAN CABINET OF Open daily from 10 A. M. till 9 P. NOVELTY MUSIC HALL, 616 B oe OVELTY MUSIC HALL, 616 Broadway.—Bonizeaves DERS, 568 Broadway.— New York, Fri THE SITUATION. According to the rebel accounts received from Norfolk, by way of Fortress Monroe, yesterday, an attack on Newbern, N. C., was expected to be made by the Burnside expedition. The women and children were said to have been removed from Newhern, and arrived at Goldsborough. The im- preasion at the latter place was that a simultaneous attack would be made by our troops at Newbern and Roanoke Island. The rebels are greatly ex- cited on the subject. Nothing of importance occurred in the Army of the Potomac yesterday. Governor Sprague, of Bhode Island, has offered three regiments of in- fantry and two batteries to the government to de fend Washington when the grand army shall make its advance. We publish to-day a condensed report of the State Engineer-in-Chief, General Arthur, relative to the defences of New York, recommending a large increase of our fortifications, both in this barbor and on the lakes; the manufacture of guns ofiarge calibre; the construction of steam propel- ling iron clad gunboats for service on thd lakes, andthe employment of the militia in the manage- ment of heavy guns and the defence of our forts’ We have repeatedly urged the adoption of these measures in these columns, and it is to be hoped that the Legislature will give them immediate attention. Details of the great battle at Mill Spring, Ken- ‘tacky, continue to reach us. The attack of the rebels in force, 10,000 strong, appears to have heen made gt @ point on the road, eight miles from Somerset, on Sunday morning, upon the Tenth In- diana regiment, drawn up in line, Five other re- giments were ordered up to support the Indiana regiment, and after a hard fight of nearly two hours, the Ninth Ohio, Second Minnesota and Fourth Ken- tacky regiments made a brilliant bayonet charge, driving the enemy from the woods, completely routing them, and following them to their intrench” ments at Mill Spring, from which, as before re- ported, they escaped before daylight in great confusion across the river. It is curious that none of the Southern papers mention a word about this battle, though they must be fully aware of the facts connected with it. Our correspondence from Port Royal, Hilton Head and Tybee Island, which arrived by the At- lantic from the former place yesterday, will be found exceedingly interesting. The Maffiit’s channel en- trance to Charleston has proved so favorable for the passage of the rebel vessels that Commodore Dupont has resolved to block it up effectually by sinking several vessels there filled with stone. Reports have reached Louisville that the rebels at Bowling Green are in the utmost distress for want of money, and that General Buckner’s chil- dren are actually going barefoot. General Buck- ner is said to have resigned his commission. Gene- ral Hardee has placed his rebel colleague, General Hindman, under arrest for burning the houses ay Cave City, and other points along the railroad, a piece of vandalism wh'ch we reported in our co- lumns several days age. Our files from Bermuda, dated on the Lith of January, announce the arrival at that island of the British steamer Rinaldo, having Mason and Slidell on board, onthe 9th instant, as already reported ’ in the Hanatp. After the Rinaldo received the | rebel commissioners at Provincetown, she stood for Halifax, in order to enable them to take pas- sage for England on board the Cunard steamer then preparing to sail; but the war vessel encoun- tered such exceedingly bitter weather—thick ice forming around her, on her deck and far up her rig- ging—that Captain Hewett was compelled, having many of his men frostbitten, to steer for Bermuda, when within fifty miles of Halifax. Mason and Slidell left Bermuda on the 10th instant for St. Thomas, the English officers hoping to catch the West India mail steamer for Southampton, which was to sail from that place on the 14th instant, and thus restore their charge to the position from which they were taken. The rebel agents were evidently disappointed at the absence of eclat or fuss which attended the surrender. They complain of the “crazy” tugboat in which they were forwarded to the Rinaldo, of the manner in which the master of the boat addressed Queen Victoria's naval officers, ‘and of the danger of drowning to which they were exposed had the storm overtaken the tng. The NEW YORK HERALD, FRIDAY, JANUARY 24, 1862. Bermuda papers seem to adopt this strain, and condemn the manner in which the restoration was conducted. The grumbling of the rebels was, oF should have been, agreeably silenced at Bermuda; for we learn that Admiral Milne, R. N., having a large dinner party at his house at Clarence Hill, on the day of their arrival, Captain Hewett, the commander of the Rinaldo, was invited to add him- self and the four Americans to the circle, which he did; Messrs. Mason and Slidell, with their secre- taries, thus at once experiencing an agreeable transition from the table and fare of Fort Warren. The City of New York, off Cape Race yesterday, brings news from Europe which is four days later and of much importance. She left Queenstown on the 9th inst., and reports that the City of Wash- ington, from New York, arrived there on the pre- vious day (8th), announcing the settlement of the Trent difficulty, so far as the United States govern- ment is concerned, by the surrender of Mason and Slidell to England. The first effect of the news was very pleasing, more particularly in the financial and commercial circles. Consols ad- vanced one and one-eighth in London during the 9th inst. from the closing quotations of the day before. The Liverpool cotton market was ‘“ highly ex- cited,” and prices went up from one-half penny to one penny per pound. We have little information as to the political and diplomatic effect, the City of New York having left so soon after the arrival of the City of Washington. Some of the London journals complain of the ‘‘un- gracious’ manner in which the surrendering act was accomplished, while others among them laud the grace and good feeling of Mr. Lincoln and his Cabinet. It is evident that England sustained the strain of avery intense suspense before she was assured 0 the issue of the case, and there is little doubt but her statesmen were relieved from much anxiety by the result. Whether they will remain content cannot yet be told; for we find that the London Herayl—the organ of Lord Derby and the aristocrats—asserts that even if Mason and Slidell were surrendered England and France have good ‘‘commercial reasons” to acknowledge the “‘well earned independence” of the Southern States, and that if the British Ministry should not do it “boldly,’’ Partiament will. The London Post at the same time indignantly repudiated the idea of a compromise with our government on tle question. A Cabinet council had been summoned, in Lon- don, to be in readiness to receive the reply of the American government to the demand of Lord Lyons, previous to the arrival of the City of Wash- ington with the news. ‘The shipment of British soldiers and war mate- rial to North America continued, and the English fleet in those waters was to be still further rein- forced. Whe London Times enumerates the large naval force which Admiral Milne will soon have under his command, and then speculates as to what ‘‘may be effected”’ with it. The privateer Sumter had arrived off Cadiz, ef- ter capturing and destroying by fire at sea the following American vessels:—Ship Vigilant» schooner Arcade and bark Eben Dodge. She took their officers and crews on board as pri- soners, and asked permission to enter the harbor. The United States Consul protested against her re- ception; but the Spanish authorities decided that if the Sumter delivered her prisoners to the custo- dy of Spain she should be sheltered. This was done, and the rebel privateer went into the Spa- nish port without any salute. The United States gunboat Tuscarora was at Southampton, watching the Nashville, which was nearly fitted for sea. CONGRESS. Tn the Senate yesterday, petitions asking for the employment o homeopathic physicians in the army were presented; also, a joint resolution from the Michigan Legislature, in favor of exchanging prisoners of war, with specia! reference to Colonel Wilcox, captured at Bull run; also, a remonstrance against impairing the efficiency of the coast survey. The resolution censuring Marshal Lamon for his prison regulations was adopted. The bill making appropriation for the completion of the defences of Washington was taken up, The amendments pro- viding that no new works shall be commenced, and | imposing the penalty of death on persons forcing safeguards, were agreed {®, and the bill passed. The House amendment to the bill increasing the clerical force of the War and Navy departments was concurred in, and the biil passed. The debate | on the resolution regarding the expulsion of Sena- tor Bright, of Indiana, was then resumed, and Mr. Davis, of Kentucky, concluded his remarks, in which he denounced both secessionists and aboli- tionists in severe terms. In the Honse of Representatives, the Naval Ap. propriation bill, @ bill establishing a postal money order system, and a bill regulating the law relative to prizes, were reported. A bill authorizing the President to appoint lighthouse inspectors during and for one year after the continuance of the re~ bellion was passed. The Roads and Canals Com" mittee reported a bill for a military and mail rail Toad from Kentucky to Tennessee. In Committee of the Whole, Mr. Alley, of Massachusetts, de livered an interesting speech on the financial mea- sures before Congress; Mr. Harrison, of Ohio, op- posed the idea of arming the slaves as a means of suppressing the rebellion; Mr. Van Horn, of New York, maintained that the time had arrived for emancipating the slaves, and Mr. Washburne, of Tinois, denounced the New York Tribune's en- dors.ment of a communication published in that p reference to the frandulent army ) Missouri. MISCELLANEOUS NEWS. In the Sette Senate yesterday petitions were presented for fortifications along the frontier, and in favor of the Metropolitan Health bill. The resolution for diminishing the expenses of the State printing was debated and adopted. The resolution in favor of the several States assuming their various quotas of all nationed sexes .was also adopted. The bill giving notaries public additional powers was discussed, amended and ordered toa third reading. Favorable reports were made from the committees upon the following bills:—To amend the act relative to the Brooklyn public schools; to authorize banks to hold government and State stocks, and to prevent shysters prac- ticing in the courts of Kings connty, A bill was introduced for the regulation of our city concert saloons and other places of public amusement. The Senate Cities and Villages Committee held their mecting yester- day afternoon to hear arguments for and against | the concertsaloons. There appeared before them, | however, only one person, who spoke in opposi- | tion to these places of amusement. The Assembly, | in Committee of the Whole, occupied a great por- tion of the day in a discussion of the Albany county j District Attorney's report, sent in the previous r havin | day, relative to bribery and corruption in the last Legislature, and finally reported progress upon the subject. Afterwards the House adopted a resolu- tion referring the matter to the Committee on Privileges and Elections. The Senate bill legaliz- ing certain acts of our Common Council for the relief of volunteers’ families was referred to the Committee on Cities. We publish in to-day’s issue an interesting report of the arrival of the British war sloop Racer at this Port, and full particulars of the reception which the rebel commissioners, Messrs. Mason and Slidell, met with when they landed at Camber dock, Ber- muda, from on board the Rinaldo. Little or no sympathy was shown them, with this exception, that they were invited to dine, in company with Commander Hewett, at the private table of Ad- miral Alex. Milne, a custom which that officer in- variably carries out in respect to gentlemen who are on board with the commanders of British war vessels. : The steamship City of New York, from Liver. pool the 8th and Queenstown the 9th instant, passed Cape Race yesterday morning, and deliver- ed a news report four days later than that brought by the Arabia, which has been telegraphed from St. Johns, Newfoundland, and is published in the Heratp to-day. The Liverpool cotton market was highly excited on the 9th instant, in consequence of the announcement of the peaceable adjustment of the Trent affair. An advance of from one-half penny to one penny per pound took place. Breadstuffs were quiet and steady. Con" sols advanced in London. The quotations of the 8th imstant were 9234, while on the 9th they rated at 9324—an advance of 11¢ in the day. The King of Prussia was ill. A violent earth. quake had visited Greece. The news from France is not important. Advices from Canton of the 30th of November state that Prince Kun, the Chief of the Regency, had executed an imperial coup d'etat in Pekin by seizing on the members of the Cabinet of the young Emperor, sending them to prison and orga- nizing a new ministry. Melbourne, Australia, reports of the 15th of No- vember state that one hundred and forty-nine thousand ounces of gold had been shipped from the time of the sailing of the last monthly mail. The vacant Missouri seats in the United States Senate are just now creating considerable discus- sion and interest. The telegraph informed us a few days since that John B. Henderson had been appointed to fill Trusten Polk’s place, and the next despatch told us that Governor Hamilton R. Gamble had left Missouri for Washington, with the expectation that Lieutenant Governor Hall, in whose hands the power had been placed, would appoint him (Gamble) to Polk’s seat. Then we learn that Acting Governor Hall has appointed Robert Wilson, who is reported to be a secession- ist, to the seat formerly occupied by Waldo P. Johnson, and that there is some doubt whether the Senate will allow the oath to be administered to him. So the matter stands. Trusten Polk's term will expire with the present Congress, and that of Mr. Johnson will run until 1867. General Price has adopted a new dodge to re- cruithis army in Missouri. He sends what he calls ‘commissary companics’’ around the country ful Union citizens, and then offers them in exchange for the prizouers taken by Gen. Pope. There is no doubt thut John C. Breckinridge is at Bowling Green, Kentucky. ‘The story about his having arrived at Halifax, en route for England, as a rebel commissioner, is therefore exploded. Hon. Daniel 8. Dickinson, the Attorney Gencral of the State of New York, delivered his lecture on “The Union: Its Perils and its Hopes,” at the Baptist church corner of Bloomficld and Third atreeta, Hoboken, last evening. A small but select audience was present, who were much interested by the novel and amusing views of the lecturer on the subject of the rebellion and the ultimate fate of its leaders. The Board of Aldermen were notin session last evening, but they will meet on Monday. The Board of Councilmen were in session last evening, President Pinckney in the chair. A reso- lution proposing to appropriate fifteen thousand dollars (o reuniform the Fifth regiment New York State Militia was referred to the Committee on Na- tional Affairs. Mr. Orton presented a resolution re questing the Clerk of the Common Council to in- form the Board what number of copies of the “ Manual’ had been manufactured and distributed for the last three years. In moving its adoption, he stated that twenty thousand dollars was ex: pended annually for this ‘‘ Manual,” and his object was to obtain information relative to this matter, in order that this large expenditure of the public money might be stopped. The resolution was laid on the table. An ordinance proposed by the Cor- poration Counsel in relation to the grades of streets and avenues in this city was referred to the Committee on Ordinances. A report of the special committee of which Mr. Orton was chair- man, proposing a new set of rules for the govern- ment of the Board, together with a substitute of- fered by Mr. Barney, were dis’ od at length. Mr. Orton remarked that it was the desire of the committee to throw around the Common Council the same safeguards as are placed upon the Legis- jature. The only rule which caused much ‘debate was that proposed in the substitute that thirteen instead of sixteen members shall be suflicient to permit action upon papers received from the Al- dermen the same evening. Mr. Stevenson alleged that the democrats had the whole matter cut and dried, and. that their action would show that the Board was divided on party grounds. The sub- stitute for the report was adopted. The report of the special committee on the Mayor's Message was received and ordered to be printed. The President announced the standing committees for the year. Skating was indulged in yesterday on the Cen- tral Park by about eighteen thousand persons, The ice was illuminated at night by calcium lighta, &c. At Lincoln Park the skating was also good, and the ponds in Brooklyn and Williamsburg were also well patronized. The trial of Dr. Charles Cobel, on an indictment for manslaughter in the second degree, was com- menced yesterday in the Court of General Sessions, before Judge McCunn. He is charged by Mary Ann Baker with unnecessarily causing the death of her child while she was being delivered. The case will be resumed this morning. Patrick Cum- mins, indicted fora felonious assault upon John W. Palmer on the 26th of December, pleaded guil- ty to an assault with a dangerous weapon, with in” tent to do bodily harm, and was remanded for sentence. The weekly statement of the Commissioners of Public Charities and Correction was presented yes" terday, and shows that the number of persons ad- mitted into the different institutions during the week ending January 18 was 1,511, making a to. ta! of 7,838 remaining there on that date—an in- crease of thirty-nine on¢he preceding week. ‘Thore was no change to notice yesterday in the cotton market, The sales wore confined to about 125 « 190 on the basis of 2c. @ 38. for middling uplands ‘The news from Liverpool was considered favorable, and caused holders to be less willing sellers, wing to cheaper freights and the oge, were mer. A few orders stances wore executed, leading to an Flour, under the news, closed be. increase of sales. higher for common and medium grades. Wheat was firm, with rather more doing. Corn closed at a alight improvement in prices, while sales were on some larger scale, Pork was steady, with ® moderate demand, with sales at $11 75 a $12 for old mers and at $12 87); a $12 60 for new do., and $9 25 a $9 50 for now prime, and city prime mees at $13 3744 @ $12 50. Sugars were steady, with sales of about 600 hhds. Cubaand 1,150 bores Havana, at prices given in another column, Coffee was quiet end firm. Freights were unsettled aud rather easier, whilo @ (air amount of engagements was mate, The Effect of the Trent Settlement in England—The Greatest Satisfaction. We have the news at last from across the water that the steamship City of Wash- ington which took out the justment of the Trent affair, had arrived in England, and that the intelligence, as we had anticipated, was received with the greatest satisfaction. So very satisfactory was the im- pression upon the money market that con- sols had immediately advanced one and one-eighth per cent—a very remarkable ad- vance, indeed, in those comparatively fixed securities, especially when it is considered that, in expectation of this adjustment, they had al- ready regained the quotations at which they stood just before the news of the seizure of Mason and Slidell. We have thus the most conclusive evidence before us of the extreme satisfaction resulting in England from the pacific settlement of this Trent difficulty. We can at length, also, pretty clearly understand the depth and character of this late English war excitement which so sud- denly operated to Fright the islo from its propriety. The British ministry, and the leading ministe- rial and tory journals of the realm, had ‘been 80 completely led astray by Munchausen Russell's information on American affairs; by our South- ern secession emissaries ; by Southern cotton, and, above all, by that paramount desire of England’s feudal aristocracy to see this great country of ours and its republican institutions broken up, that they had regarded war with the United States as inevitable. From day to day, since the outbreak of this rebellion, the London Times and its secession colaborers had dis- torted every fact, and had resorted to every falsification of history, calculated to degrade our government and our loyal States and people, and to exalt Jeff. Davis and his rebellious con- federates in the public estimation. Behind these defamers of our government and of its loyal people, its loyal army and its righteous cause of the Union, stood the British Cabinet,from the day of its indecently hasty concession of “belligerent rights” to an insur- rectionary combination. Hence, between the British ministry and the British press, the British people were finally led to believe that we were resolved upon yielding to a domestic rebellion under the convenient difficulty of a foreign war. Moreover, that the American mob, which ruled our government, bad, in its ferocious exultations over the seizure of Mason and Slidell, betrayed sits relentless hostility to England, and the Lincoln administration would be compelled to driven from power. Such were the impressions brought about in England upon this Trent affair by tho unscrupu- lous enemies there of this country and its insti- tutions. Captain Wilkes had acted under in- structions, the British flag had been deliberate- ly insulted, and for the purpose of war. Secre- tary Seward wanted it as an excuse for the recognition of the spurious government of Jeff. Davis, and our dominant American mob wanted it, in its blind and reckless hatred of Eng- land. But with the official —corres- pondence before them settling this Trent affair, the honest people of England will begin to comprehend the extent of the miare- presentations of American affairs with which they have been daily fed for the last six months. The plam statement of facts, and the calm and conclusive argument of Mr. Seward: in his leiter to Lord Lyons, we may reasonably expect, will give us all the advantages of o great reaction of public opinion, from London to Paris, Berlin and Vienna. Mr. Seward’s masterly letter, and the satis- faction with which it was instantly accepted by our loyal people, will vindicate them and their government with every honest Britlsh reader, and, if we are not mistaken, will secure from the British government henceforward a betier understanding with us than that which has heretofore prevailed, and because of the pres- sure of the public opinion of England and of Europe. Ocn War Taxes.—The various schemes of taxation before the Committee of Ways and Means have as yet resulted in no well digested plan. The committee hesitate and lose time, no doubt from the want of proper information as to the sources from whence revenue may be de- rived. This arises in part from the fact that the science of taxation isin a measure new to us, but ina still greater degree from the indo lence of its members, who might supply to some extent, by reading, the experience they want. Acomparison of our resources with those of other countries, as well a3 an examination of their systems of taxation, would soon put them upon the right track. With a view to lighten their labors, and hasten them to a conclusion, we publish in another column a detailed state- ment of ail the different sources from whence revenne is raised by taxation in Great’ Britain, These resolve themselves under the following heads:—Excise, stamps, land and assessed taxes, property tax and post office. The total | amount yielded by these for the year ending De- cember 31, 1860, was £46,802,074 28. 1d., or about $234,000,000. Now if England, in a time of peace, is able to raise by taxation such a large annual amount as this, what is to prevent us, in war times, raising by the same means $250,000,000? It is not as if we were imposing a permanent bur- den upon the country of that amount. Once the war is ended, with the abundant resources that we possess, and the rapid increase of our foreign trade, we shall soon be in a condition to wipe out the debts that it will have entail- ed upon us. All that is wanted now is speedy action on the part of Congress. Let the com- mittee entrusted with the reconstruction of the national finances take care that the brilliant se- ries of operations on which our armies are en- tering shall not be delayed or hampered by its hesitation. Tur Scwrer av Caviz.—By the City of New York we have received authentic intelligence of the arrival of the privateer Sumter at Cadiz, where she landed forty-two prisoners taken | from three federal merchant veasele which she | had destroyed at sea, the particulars of which | we give in another column. This vessel, like the Nashville, not content with capturing ves- | sels and taking them into port, makes a prac. ' tice of wantonly destroying them, and ought to | be regarded by all the Powers as the enemy of | commerce and civilization. It is necessary that a stop should be put to the career of such pi- ratical cruisers; and, although we have one gun- | boat already on the watch in the nelghborhood of the English Channel, the government ought to send without delay five or six more to cruise i in the Mediterranean and elsewhere, and pre- | vent these depredations on out shipping. submit to this fierce and senseless mob or be~ ‘The Ways and Means for the War. Yesterday, as our readers are aware, we pub lished a synopsis of the bill reported to Con- Gress by the Committee of Ways and Means, Providing for an issue of Treasury demand notes to the amount of one hundred millions of dollars, in addition to the fifty millions pre- viously issued, making in all one hundred and fifty millions of s legal tender currency, of various denominations not less than five dollars, and convertible at the pleasure of the holder, in sums of not less than fifty dollars, into bonds bearing six per cent interest and redeemable in twenty years, the issue of which bonds is authorized by the bill to the amount of five’ hundred millions of dollars. The demand notes are not to bear interest, and are payable only at the Treasury in Washington or Sub- Treasury in Now York. This is in substance the measure which we long since recommended, and we are glad to see that it is now at last fairly before Congress and the country. Ac- cording to the outline of the bill which we have received, it contains some provisions which appear to be objectionable; but we prefer wait- ing for a complete copy before criticising those points. Instead of authorizing the Secretary of the Treasury to issue only a hundred millions of demand notes, we think it would be wiser to authorize him to issue double that amount, not, of course, all at once, but by degrees, and as the necessities of the government may require. If the whole should not be needed they would not be issued, and no harm could be done by the authorization. Better to provide too much than too little. Besides, it is most desirable that Congress should make such ample provision as will enable it to adjourn as soon as possible, and have no necessity for meeting again till the regular period in December, thus leaving the government free and unshackled to act upon its own responsibility in conducting the war, and atthe same time removing from public view the angry debates and contentions about the negro, which not only have nothing to do with the war for the Union, but embarrass the go- vernment and the generals of the army, unne- cessarily exasperate the Southern rebels, and, what is still worse, alienate from the nationa) cause the support of many thousands of friends scattered over the rebellious States. What is the proper business of Congress at this moment? It is to make a law of the bill now presented, to vote men and supplies for the army and navy, to impose a tariff, to adopt an intetnal tax bill, and to passa bank law and a bankrupt law for the relief of those merchants and traders who may be broken down by any sudden contraction in the loaning operations of the banks, whose circulation will be swamped by the new national currency, which will have the effect of reducing them to banks of deposit. These-are the bills which the country needs, and in such an emergency as the present all minor legislation ought to be postponed till the war is concluded, and ali speeches for bun- combe and all debates upon other topics than those vital and necessary measures ought to be voted down by the good sense of the national legislature. Above all, the tax bill ought to be reported immediately, being the foundation of the whole financial fabric. Without this basis the super” structure would be like a castle built in the air. Before Congress can vote understand- ingly on any of the parts, or the country can appreciate its merits, the whole scheme ought to be brought forward. Then the adaptation of each bill to the other, and the harmony and strength of the entire edifice, from the corner stone to the capital, may be determined. It ia idle to compare the paper money issued by the Continental Congress of the American Revolution, or the assignats issued in the French Revolution by the Constituent Assem- bly, with the new paper currency about to be issued by the United States. Neither the Revolutionary colonies nor Revolutionary France could bear taxation to the amount needed. The case is different with the Ameri- can republic, whose vast and rich domain: whose immense wealth and untouched varied resources, enable it to tax itself as no other nation in the world can now do or could ever do in former ages. Ade- quate taxation, and making the new notes a legal tender, will prevent them going much below par for the short time which the war is likely to last; and when the struggle is over those securities will rise as high above par as other federal securities have done béfore our national troubles began. They will be greedily sought for as the safest of investments by the moneyed classes of every nation of Enrope. For what government on earth can offer such good security for the fulfilment of its obliga- tions as the government of the United States of America? Let there be no hesitation, therefore, about passing the financial bills immediately; and when that business is done let Congress disperse and go home, and leave the suppression of the rebellion to the President, the Secretary of War and General McClellan. They will know how to take care of it; and probably, when Congress meets again in December, it will receive from the Commander-in-Chief the grati- fying and glorious announcement that the Union and peace are restored, the republic, one and indivisible, is saved, democratic representative government has passed through the fiery ordeal unscathed, and liberty has taken a new lease of power, renewable forever. Tue Disrresses or THe Tripuxe.—The Tyi. bune announces, yesterday, that in consequence of the hardness of the times it has not made a single cent during the past year, and it presumes that all other newspapers have had the same bitter experience. Alas for Greeley! He has all along denied our charges that the Tribune was a losing concern; but now stern necessity forces him to admit the hard truth. He says:— «We were poorer at the year’s end (1861) than if we had slept through the year and not issued asingle copy.” Such is the doleful tale of an abolition editor. This explains his half price advertisement in the Heratp. This accounts for his dollar jewelry and gold pen gift enter- prise lottery. Poor Greeley! When will he learn that abolitionism does not pay, either in this world or the next, and that true patriotism, like honesty, is the best policy. Since Greeley is poorer than ever, there can be no chance of his paying up that $76,000 Irish relief fund; but he still has his nigger brigade to fall back upon. We, who have not had his sad trials in pecuniary matters, will give $1,000 to send him South, if he will only go. Diamoxy Cot Diawonn.—The Albany Argus- Atlas promises to show the Legislature how to treat and cure the briberies and corruptions of | the lobby, A Carnot in the War Depart@ent. The General Order of the War Department, under date January 22, and signed by the new Seoretary, inaugurates a new era in the history of the present war. It hasa true ring which will cause every loyal heart to vibrate, and will send a thrill of enthusiasm through the souls of the gallant officers and soldiers whose merits and bravery it is intended to commemo- rate. It announces to the world the determi- nation of the administration that courage and patriotism shall, hereafter, be crowned with honor, and that weakness and inaptitude shall be rebuked and punished. So was Napoleon wont to encourage his legions, and in such lan- guage did that great master of military science, attract the eyes of the universe to the exploits of his legions, and make each victory pave the way for future successes. The hearts of the brave men whom Generals Thomas and Schoepff led into action, will glow with emotion as they hear read to them the words which Mr. Stan- ton, in the name of the President and of the country, has so wisely penned, and those who were heroes before, will aspire {p become demi- gods of valor now. Hitherto there have been, from some inexpli- cable reason, no grand bulletins, no adequate appreciation of the trials and exertions that have been made by the soldiers who compose the federal army. No sharp and prompt de- monstrations of displeasure or satisfaction, have indicated the line that is drawn between fulfil- ment of duty and sluggishness in its perform- ance. Generals that have won victories, have been treated in. much the same manner as those who have lost battles, or led their forces into positions insuring disaster and defeat. General Order No. 5, from the headquarters of the army at Washington, remedies this evil. It de- monstrates that a genial, generous spirit will hereafter pervade the counsels of the govern- ment, d that a glorious example of th lacrity, daring, courage, and patriotic ea,” which Mr. Stanton says are to “ ve expected on all occasions, and un- der every circumstance, from the army of the United States,” will shine forth from those who- direct its movements, and, through it, are en- deavoring to restore the integrity of the Union, and peace to the country. The new rules that have been adopted in the War Department; the regulations that have been made respecting the appointment and pro- motions of army officers ; the firm determina- tion of Mr. Cameron's successor in office that, while nothing is left undone to “ destroy a re- bellious enemy, and deliver the country from danger,” rigorous economy shall prevail, and not a dollar be uselessly or profligately ex. pended ; the cordial understanding, and im- plicit confidence that exist between the Presi- dent, Mr. Stanton, and our brave Commander- in-Chief ; and the check that has been given to the abolition element that, until within afew days, had been becoming so rampant and daa. gerous, are all signs of a most cheering future, which break like bright rays of sunlight throngh the dark and menacing clouds that have so long obscured the political horizon of the United States. Carnot won undying renown as the life and mainspring of the great military operations in France, at the close of the last century ; but ‘Uf Mr. Stanton’s career justifies the hopes that may be entertained from the electric words of hanks he has just poured forth to the victors at Mill Spring, his fame will far surpass thatiof hig great predecessor. Tue Gattant Genxrat Scuoxrrr.—The asser- tion had appeared in several papers that the brave officer who has achieved for himself such renown at Mill Spring, was formerly a perter in one of our hotels. Whenever such a thing is said of an individual who has distinguished him- self, it naturally goes the rounds, and is repeat- ed everywhere, for a while, both orally and by the press. In this instance, however, it appears that the statement was erroneous. General Schoepff, while in Europe, was already known asa man of no ordinary scientific attainmentay and, shortly after his arrival in the United States was appointed to a position in the Patent Office, where he attracted the favorable attention of General Scott, partly through whose influence he was raised to the rank of Brigadier General of volunteers at the beginning of the war. He has fully realized the anticipations of his veteran patron, and become an accomplished officer. In correcting the mistake about General Schoepff however, our abolition contemporaries, so in- dulgent to slaves, profess much indignation that it has ever been supposed for an instant that he could, by any possibility, have held a subordi- nate or menial position. They affect to find sofnething degrading in the state of life from which the General, according to the first story, was said to have laudably risén. What non- sense, inconsistency and shoddy-aristocracyism! If it were true that General Schoepff had once been a porter, so far from its being a disgrace, it would be the greatest credit to him. Some of Napoleon’s ablest marshals rose from the lowest obscurity; Louis Philippe was once a schoolmaster in the United States, and Napoleon IIL. a special constable in London. Garibaldi ‘was a tallow chandler on Staten Island; con- sidered it proper to trudge up Broadway with a pair of chickens in his hand, and if the circum- stance were mentioned to him now, would be far from insulted by the recollection. Al} honor to the gallant Schoepff; but in this petty abolition howl over a mistake respecting hie antecedents, we are sure he will find a covert sneer and symptom of enmity that will not by any means gratify him. Mr. Tuappevs Srevens Orr tax Track.—Mr Thaddeus Stevens has been meking another speech in Congress in favor of the infallible abolition panacea for this Southern rebellion— to wit, the emancipation and arming of the slave population of the South. Now, we re- spectfully submit that, as Chairman of the Com- mittee of Ways and Means, all the talents, learning, labor and time of Mr. Stevens are de- manded at this crisis to provide the ways and means necessary to prevent the Treasury and the country from running into bankruptcy, and that he is off the track in neglecting the import- ant money question to dance to the silly music of our abolition disorganizers on the negro question. Let Mr. Stevens stick to the financial duties of his committee; for the liberation of Uncle Sam is a more pressing question than the emancipation of Uncle Tom. A little less of the nigger, and a little more money for the Treasury, if you please, Mr. Stevens. Hostinrry or tae Army To AnoLrriontsa.— We rejoice to perceive that a band of itinerant ballad singers, who had obtained permission from General Cameron to visit the camps for the amusement of our soldiers, but who abused | he privilege by singing abolition songs, have