The New York Herald Newspaper, February 1, 1862, Page 4

‘would have seemed incredfble until! a few weeks ago after ® century of ivternationa! legis!ation, marked by Of the severities of war, aud sibly vernment prosecute # war, of the on ‘Darbarity aud destruction, to be equalled by ins of piratical junks in the East . We confers we are indiaitely ‘to Gnd a cont y journal indirectly ‘the struction of the port of Charleston by the precedent of our having ged to sink ships, im 1804, in front of log! Can it be necessary to draw out in words the obvious distinction between military and commercial ports—between a harbor widened and for the {he conquest and subjugation of ‘and a harbor valuable to its own country merely in nations block up permanently the mouth of the Ga- hereby the port of Bordeaux, dling ity; though it European government ever imagmed. But for Kngland to have destroyed the port of Boulogne in 1804, oven if she had done 30, would have been simply equivalent to the blowing up of Sebastopol by Turkey and her Allies in 1556. . . * . ‘The barbarities now perpetrated by the federal govern- ment are equally bracing the nate governments to a common sentiment ‘indignation. We hardly know why Europe has hit pate acted toward the Northern government with so much more suffering than she showed towards Holland in 1831 and 1832. ‘was never guilty of the barbarities committed by the Washington Cabinet; bat France and + Great im, aa s00n as the Belgians showed that they Britain, ea mee ne ie 6 grew destructive ces merce general security, unhcsitati recognized the in- dependenctel Belgica. nen by Europe. = the London Post (Coverument Organ) Jan. 16.) Paris Moniteur has already called the attention of Europe to the “ vindictive” prosecution of hostilities by the federal government of Washington, in the destruc- tion of Charleston harbor, which it describes as proyok- ‘ng foolings of *« indignation.” It will hardly bo thought ‘that this language is too strong, more especially since there is every reason to apprehend that tl deral vernmout coutempiate similar acts of bi permanent devastation elsewhere, It will have been ‘noon that they havesunk whaling hulks filled with granite, in & triple Tow, at the mouth of the port of Charies- ton. The resistance which these obstructions gust offer to tide and current will probably result in the forma- tion of sandbauks, which will grag as permanent and ir remediable as the natural sancbavks at the mouths of many European rivers. At the present mMuent it is possible that the granite might with great labor be re- Moved; but in proportien to the period for which the obstacle is suffered to remain it will become fixed and indestructible. The great outport of South Carolina may therefore be thought to be as good as blotied ont from the maritime emporiums of the world. We already said that the same policy is likely to be carried out elsewhere. Indeed, the objects involved ia this act would only'be rendered effectual and complete by its general application. We must expect that the harber of vannab and the communieation of the Savaunah river with the sea will be destroyed by the same meaus as the port of Charleston, ‘There can be no doubt that to carry into operation such ‘@ policy as this would be an abuse of the rights of war ; and there seems to be some ground to question wither i would not te also io excerd those rights. This question, in- deed, might suggest itself, whether we considered such wholesale ruin in its municipal or im its inrernational re- lations. It is pot, however, for us_ to consider the muni- cipal constitution of the United States. / has eren been doubled whether the right of declaring blockades were with- ‘in the Presidential awhcrity by the law of the Union ; and it might further be questioned whether the permanent destruction of harbors is not incofisistent with the right of the particular States in their internal reia- tions. But these are mutters which we can perhaps but imperfectly scratinise in Europe. ‘here can be od 5 ry Sree gation of ag hE er tong foam 6 lenin echef: Manse, solicitude. Interna- tional law, indeed, has not carried these interests to a Point inconsistent With the rights of belligerents. It has fever sufored any infraction of the law of block- ade; but it has at the same time taken care to tie down that law of blockade by the most rigcrous condi- tionc—the all-p2 feature of which is, that blockades are in (huir nature tem and ; and are merely , terminating wil of peace. Now there can be no question that if Car: were unhappily in rebellion against this country, and we resolved to ae. the navigation of the river St. Law- rence by sinki ips full of granite, and by leaving it to action to do the rest of the work, the government of. the United States would iinmodiately resent our conduct as violation ef international law, and of compacts be- tweon us and themselves. Neither can there be any doubt that they would be perfectly entitled to bold this lapguage. The difference between the case of the St. Lawrence and the case of the Savannah and Alabama Tivers is, that the former, after traversing our own terri- tory for an immense distance, has its source in Lake Guiairo, the southern bank of which is In posseesion of the United States. There lakes + 9 much in the nature of inland waiers, that it be dispy et sehciher they posiened an original right to communicaiton with the sea, however, reats the scle difference between the ports of the river St. Lawrence and the ports of rivers which the government of Wasbington is Soper threatening to destroy. rig i , in regard to several of the great rivers of North America, has been made during the Yast hunred years the subject of ectenswe stipulaticn. The Mississippi, which iavolves the port of Now Orleang, will serve as anexample. By the T eaty of 1763, under which Prance ceded Canada, an? Spats ev?" Fer": lo England, the right of navigating the Me sesip pr red to British subjects, “without being sioppedor vit pment of any duty whaleor.”” Again, th Li8%, after dhe indepen of the United States was ackuowledged, and when Lou had been ceded by France to Spain, senigetion was again is 3 ty of Ghent is silent on this question; it neither coufirme ‘Ror reaciuds the stipulation in question. We are certainly not prepared to advance « claim upon this ground; although: — might be brought forward to as ort that issiasippi its source in the territories of the British Crown. But congidering that the United States are allowed by this country the right of navigation on the St. Lawrence, and that both France and owrsclves can point io treaties asserting for both countri:s a right of navigation on other American rivers, Europe does appear to possess a claim to be heard in arrest of the vindictive and probably irrerediabie blows with whieh the Wash- ington government fs threatening other great ports and harbors besides Charleston. The opening of the great rivers of Europe by the Congress of iba In 1815 mar! ed the province of this hemisphoro im its international iples. These rivers Were declared open, not simply by compact of the riverain Powers. but for the general advantage of international commerce. But apart from the ultimate results of thie barbarous pa of the peers one srrecmsoest ~ one epg o As tikely to be in position of every flag to chal- leape thetusckene “Dleckoder,” a3 we have said, cam ex- tat only under the effective supervision of belligerent cruisers, as well as by their mere Now, the object of the destruction of Charleston ts confessedly to atone for the inefficiency of the Uicekade, and perhaps for the total de- partare of tl rs. it is certain that the: Ro legal “blockade"’ by sunken ships and stoves. national law has placed the most rigorous res im the way of interference with the interests of com- merce, [ildckades in this nature permanent do not exist “in law, although harbor may be blocked up and destroy: fact. Meanwhile we perceive that a Dili has been browght into the Washington Congress aut- thorizing (he President to abolish harbors by municipal le nd go to take thetn outof the reach of the law of nations andthe accepted maritime usage of the world. ‘We never yet knew that municipal law wasstronger than international Iaw. it may be the fnte of this moasure we caunct foretell, but it pears a striking resembiauce to the barbarous policy of the executive nment, which ts fling Europe with an éndignation that the Moniieur by eggeercies, end which, if il be carried into gene ral practive along the coast of the confederacy, will repudi- ate the karting principles of cuilization. Look on This Picture. THE STONE BLOCKADES OF ENGLAND. (from Galignani’s Messenger, Jan. 1 In roply to the violent article im the Loudon 77 the bieckade of Chariestou, we have the two following ters:— Ste—The Times of Saturday last, in an elaborate article on the destruction of the port of Charleston ey sinking hares fil th biecks of granite on the bar, proceeds (uv charge it exclusively on the ferocity and vindictiveness of the American character, coufidentiy demanding, © When bas such an act been perpetrated by any European, Power’ to which the oditor exultingly replies, “7Tbis savace innovation has beon left to republicans of our own day.” On reading this unwarranta| that no amount of patriotism coula jus sion of & public deniolof the sta‘emer war, 80 juatly reprobated by the Zim \s not the Arst of ita Kind. Parental England se! the atrocions example. On the evacvation of the city and port of Alexandria, and embarkation of the troops, in 1807, five veweis laden’ with stones were sunk in Oe narrow passe which our squa- drom, under the command of Admiral Lewis, had entered, and then sailed, concluding that it voou'd be the last extl of any vessel fom the rroneongly, however, ag it hag subsequently appeared. 1 enclose my card, and remain, ‘The other instance is contained in & letter from Lord Hobart w Sir A. 3, Hammond, Controller of tho Navy — MOST SECRET. Downine Sremt, Feb. 9, 1804, It being thought advisable, ander thy present eiccum stances of the war, that ao attempt should be made for carrying into exeoution the project suggested in the en closed choking wp ihe entrance into the a and the success of such an enterprise de pending a upon the secrecy and de- wpateh with BT ogy mpd may be made have the King’s to signify to you that you take these preparations under your immediate coutro!, and that you communicate confidentially with Mr.——, supplying him with such funds and gi: him such orders for the of vessels, and maverials which ma) Jjutge necerrary accom. ‘pliabing the ovje:t in view. As s00n as the vessels shall ‘bs auiliciently lalen, you will give instructions that they poeed wit possible expedition to tho Downs, urtaer orders will proceed from Lord Keith. CONDITION CF THE UMION TREASURY. shoul \» English View of Mr. Chase's Plans of Fin € nee, {From the Londen Times, Jaa. 1 ‘er tha indluence of political chloroform the Ameri- we entering apod 8 stage familiar in the history of «ii toma. ‘Phe agsociated banks of New York, ‘Bos: ton and eye and, @8 a matter of cour ihe f-cersl treasury and ali ‘tho banks in the Northern Hlotes, have suspended cash payment. Thoy have taken theeop fin @ most balmy unconsciousness of v «Inevitable reguits. Indeed, never war a res ond ee Proceeding done with so ech « cocncy and order, with such tender covsideration for £ 1a peoplein favor of elom cash payment was con vaugd for afew days—or wilh So strong a perrussion ~~ a _— ies of the South, ang | had been in full piay the fe: NEW YORK HERALD, SATURDAY, FEBRUARY 1, 1862. Tt would pretium required for tuere was nothing at a! nce. and other foreigners, who were said to be, as usual, be- having very ill. Agents for English corporations wore in New York disposing of American securitics om any terms, and thus lending an evil count ern confederacy. Many millious of dol passing the border, uot only in exc! English goods , but also because proaching toa trivtic as to think dollars safer anywhere than in the United States. Notwithstanding these mischievous at- tempts to damage the federal credit, no doubt was enter tained that in a very few months afier the new taxation deral government would fiad itself paying its way through all its dil . aud thos offering a splendid contra:t to the Confederate cacee, which was assumed to be in s state cf hopeless insol- vency. Is it really our duty to dispel 80 Wo might as weli read a countrymen what this means. the war. variety of considerations, and ranges ac par to zero, When we substituiel them fur year 1797, we were at war with a neighbor di: peace. country, and we were only carrying on the war in the bm est philanthropy—for the sake of the Christian and vilized world, One thing was very cloar—tbat day we pleased we might retire out of the quarrel, with the British dominions, the British constitntion, the British commerce,’ the Briti-h revenue wholly uninjured, and 0 loas, @ cept some sentimental damage to our exalted character— just @ ront in the British flag. A war that we could tor minate any day ai ihe sacrifice of «few big words and a shred of bunting aved not be a long one, and John Bull was mnoh too wise to be always grasping at a shadow. But in the February of that year we suspended cash pay- ment, and did not return to it for twenty years. Betore that ‘day gold had risen to forty or fifty per cent pre miuim, ant guineas were only to be found in cabinats aud old stockings. It cannot by said that at any time the war was @ matter of absolate necessity to the Lation, a8 we could have made peace at any moment without the sucri- fice of an acre, one military post, one institution or one pezson in these isles. Yet so obstinately did we contend for the deliverance of Europe and tke world from the disturber of the public , that we kept up the war for 4 quarter of a century such was the confidence in our obsti- that till the end of the war the‘*promise to pay’’ was always much below par, and great indead were the commercial difficulties and distresses involved in that depreciation, and the consequent iva! rebound. A comparison of England in 1797 with the Northern States of America in 1862 cannot be considered favorabir to the latter. It ia by mo means plain that the Cabinot of Washington will be alle to make peace without serious com promises and losses. li may have t» give up much more thon the Southern States. It may have to make terms with its own army as well as that of the foe. The Uniled States re not a taxpaying country. Their high tarifl con- fess to the extreme difficulty of direct taxation, par- ticularly for federal purposes. Half the American taxpay- ive in regions juat reclaimed from the forest, and a sprinkled over with settiements. The great State of Mii uois, which may be said to occupy a mid-rank betwoet New Eng'acd and the Fue West, has hitherto paid in ail about £109,000 in taxes, and of this the railway has pari £24,000. The yield of an Amer! estimated from the fuct tha been resented as sort of tribute, and therefore = sym- bol of degradation. What security is there here for ths future payment of the debts likely to be incurred under au expenditure of a hundred millions sterling a year? ‘That rate is not likely to be diminished or even brought under control. All the press are open mouthed against au army of jobbers and speculators who are said to be making their fortunes by the ruin of their country. They exclaim with not less violence agaiust the laxity with which almost anybody, anywhere, at the head of a few thousand men, is itted to pledge the credit of the treasury. Meanwhile, an army of contractors aro clamoring for payne and justly observe that the sol- diers and officers get all the ready money, while they who supply the material for the war are unpaid, They will now have to take payment in paper, whatever iis value. There will still be those who will be in a condi- tioa to refuse paper, and who will have specie in the or. dinary course of trade. They ere the fore'gn merchant and manufacturer. Not one tive dollar note wili cross the Atlantic Styx to these happier realms, unless to amuse the curious or attract the passenger to the shop window of a Change de Monnsie, re ig not a circamstance in which America of 1862 can be compared with England of 1797, and, if ‘bo British insolvency of which wo have intely been rominded lasted twenty years, we may well ask when it will terminate in a redemption of every bit of paper in the States. When an inconvertibie paper currency ts once substi- tuted for gold, it becomes the bare «f (he whole jinancial aystem, and its rising or falling value affects every fixed payment, whether public or private. That value vill rive with the prospects of peace, and fall as they reexie from the eye. The defeat which throws the cause on its defence, and the rictory which encourages it to perseverance, are equally fatal to the hopes of an early peace. Men may be sanguine ‘or may despond, but it is the probable duration of the war and the extent of the expenditure that will rale the value of the dollar note. Who shall pretend to say how long the war wil! last? The Confederates have been over.and over again pronounced to be so bavkrupt of means as to be incapable of furiher exertion to any purpose, but the prediction has been repeated to often to be hecded; and whatever the yalue of the desultory operations on ‘tne coast, the feder&!s find an o ized, intrenched and well supplied force wheraver they push their reconnoissances south of the Potomac. If the war is safe to last even one wer longer, what wil. be tie value of a promise to pay which will not be redeemed (it a proper in- terval efter that year? We do not expect to bo listened to actors the Atlantic, but we think we see in this cial catastrophe a b ginning of the end. Wich tw expenditure of our war, the government of Washington cannot raise half our reveave by taxation, Let that apesk for itself. To us it speaks of either bankruytey lisorder, or the expedient of a European arbitration. rom the Loudon Post (government organ),.! ith money in the exchequer the government } clared itself insolvent, aud fondly iraagines that it ix botter position than if it had maintained its credit till it had apent its last dollar. Thefailacy of such a supposi- tion mist be apparent to al The federal government is indeed unfortnnate rot minister capable of g:appling with the pro ‘and able to provis ional credit can be tphel: rtible dogmas affords evi- id have been impossible to t tho Treasury yr able If the enunciation of ineontro dence of financial skill it w have selected a Seeretat than Mr. Chase. Can s policy which he f vouch a‘miration at New York? country be taxod, he propows, to an extent snificient to pay the interast on the debt contracted, to establish a sinking fund, and to pay the current expenses of the government. Very good advice thir is, no doubt and if twas followed we should hear mthing aout the sw pen- stem of specie peymumts, ond foreign capitaticis would be eagerly purchasing federa' ie But Mr. Chase, un fortunately, hes not told his countrymen how the be consummation is to be effected. Toil aman wuo difficnlives that the best thing he can do is to provide money for the payment of his rent and w satis’y the accruing interest on his «i in full the moro preaslug of his o: doudtiees, admit the goundners of tho advice, but can foe! benefitted uniers tho meane of pursuing the means their wa; lighten the they are the backs of posterity, Mr. Chase ‘led #to devise. Hi for the current year exceed one hundred milijons yj. Hie custome will not th 8 the Eachequs Of the taxation which is to pay the terest on the debt and to create the sinking fund, we have heard nothing as ye 6 Congress, wiother from an inability to realize the tion in which the country ia placed, or from not being habituated to impose taxes, or from @ copsclousmers that if they do finjose them they are not likely to be paid, bas bitherio ifested @ singular disixe!imation (0 vote the sup. plics. The Now York press com that al- t moneyed men are anxious to bear the bar. den of the war, the Congress fnils to devise the mears by which its intentions are to be carried into . The Committee of Ways a Moana which has been appointed by Congress differs eatire- ly in its composition frm similar committees here, which, in fact, are formed of the entire House of Com mors, The committee at Washington is compoeed of in- Cry idnale suposed to possess financis! talent or experience. lu Loe present instance, howerver, it would seem that its members have been ill ebosen. ’ Mr. Stovens, ite chair- man, though well informed of the discussionspon the tari which took place a quarter of a century since, s by bo means verted in Onamoial science, Bad enough as this is nan assembly where the Secretary of the Treasury has n0 volco, it is rendered still worse by the fact that Mr. Stevens and the Secretary are not personally on friendly terms. Never was a greater act of folly commit- ted than when, in framing their constitution, the citizens of the United States insisted on excluding their ministers from Congress, Ou two occasions of late the federal States have suffered seriously (ror this provision. When it was known at Wasbingtou that England would demand the surrender of the eapiorod commissioners Congross was in sestion. Had a responaibio mio\mior been present he might have been questioned om peng J the lotentions of the ave beew obvi- verninent, and a ee ated. , Again, if the Min! of Finance was a mem- bor of Congress, he might poasibly urge it to take active moarnrer, instead of coutenting bimself with expounding barron theories. Every nation has the right iis own form of government; Mut that of the United States seems to us to have been suited only for the faivert of weather, dark tempests and not for the republic. THE BLOCKADE OF THE WASHVILLE, The Tuscarora Makes Another Kun and Returns to Her Post. {Southompton (Jan. 4) 7 jt ‘imes.) ae. that these reasons are ponds ace ceptel—at it, that they were at the last date, for the was still tnconsiderable, and elves there was still creat confi- treachery was on the part of tie British co to the South- pleasant an illusion? chapter from Sir W. Reid's ‘Law of Storms” to the next southwester as offer apy financial considerations to the Americans with the hope ofa practical result. But we mest tell at least our own ‘The five dollar notes now- pnguernemend issued by the United States Treasury and the Northern The Bleckade Likely to be Challenged | banks instead of the gol are morely promises to pay that sum 98 soon as convenient after the termination of ‘The value of such promises depends on a great ingly from , in the from vs bya narrow but loisterous strait, having ourselves a vast preponderance of naval power, att having also the best part of Burcpe on our side. The Parliamentary session had opened with the promise of negotiation and a prespect of ‘Thero was no apprehension of danger to this of selecting which Rave of late aseaitert correspondence of London “as diseovered vosterday evening that the ‘veca. » had ageia loft her moorings, and gone down the She anchored for the night, it is understood, of | Woolwict » Tepe, juat outside Calshot Castle. One of our Southamp- ton pilots, who came in from the Channel » Peports that at seven o'clock thig morning he passed Tusca- steaming out through the Needles. Of course, all ‘ts of rumors were soon afloat as to her intentions in making off, but they were all set al reat by the sloop re- turning to the river, and a Toor Ings agalp this afternoon, between two and three o'clock, ‘The Nashville, 1: is rumored, bas boen sold, and become the property of Fuglish owners, but the Confederate tag and the pennant are still flying from the ship. THE PRIVATEER SUMTER. Letter from Capt. Semmes—His 0) of Secretary Welles. TO THE EDITOR OF THE LONDON TIMES. Permit me, through the medium of your columns, to Say a word to the civilized world, in defence of my ship, against the scurrilous and cowardly attack ‘made upon her by Mr. Gideon We'les, who is just now the Secretary of the Navy of the Northern fragment of what was formerly @s the United States of America. That gentleman (for by courtesy I must call him such, from the high oft- cial position whieh he occupies), used the following lan- age in his recent annual report to the President and of what remaiue of the old confederacy :— Tt was natural that apprehenstons should prevail in toarmed cruisers comtnlssioned expressly By the rebel lead- ers to depredate upon our commerce, This robbery of mer- chants and others e fm peaceful and lawful pursuits by iratical crulsers ts not in Went with we general con- duct of those who have violated law and mora! obligations to gratify inordinate ambivon, Our extonded commerce pre- Sento inducoments for piratical warfare, yet but few of our icomien iniaguided countrymen have, proatituled themscives to the purposes plunder, though thereto invited, and these few ave been in oonsiant flight toescape the avenging power of our vigiiant naval forces. Such of these crulsc the blockade and capture were soon wrecked, beached or sunk, with the exception of one, the steainer Simter, which by some fatality was permitted’ to pass the , then blockading oue of the passes of the Miasissipp!. and after a brief and feeble chase by the latter, was allowed to d ou her plratical voyage, An Invasiization of this whole oc- currenea was ordered by ihe department, Soon the Niagarn and the Powhatan, from the Gulf squadron, followed in Yizorous pursuit, tie latter, though long in couiission, and with defective boilers and’ mae! , under hor energetic commander. tracking the piratical eraft'as far as Maranlam, The Koystoue State, Richwond, froquoia and San Jacinio Were also in search of her at di Although a piratical rovet ors as eluded rent points and periods. Athout Lcense from any recog. nized or ai rnment, and avowedly engaged in the robbery and plunder of our bitizens, T regret to xay this vessel hos boen received und her wa its supplied, against the remonstrance of our consis, by public authorities im many foreign ports where her character was well known. ‘The clos.ng paragraph of the above elogant extract from an American State paper would seem to show that, although it was penned ostensibly against myself, it was, in fact, levelied at those Burs Powers which had ac- Knowledred the Conf terate States 0 be a lawful belliger-nt in the war wirich lu! been forced upon them. On no other supposition could it chargo me with “robbery” on the high seas, and with being a “piratical rover.” A pirate is how'ts human generis, and may be seized and sum- marily dealt with by any aud all the nations of the earth; but the fact is, these officers of the defunct federal Caion arg so blinded’ by their venom against the South that they have no longer ine power to distinguish between terms, Mr. Welles, also, im imitation of the dirty and mendaciows press of the Yanivee States, calls m: a privateer. Ho knows botter than this. He knows that a privateer is a vossel that baars a letter of marque, and that [am cruising under no such letter. Ho knows that I have been regularly commissioned as a ship of war of the Con- federate States, If he and his deluded associates insist up- oncalling the citizens of the Confederate States rebels, uter the idea thet those Staies still form a part theold Yankeo concern, then he might characterizs me as arebel man-of-wer, But if lam this,o were all the ships of the Amorican colonies commissioned by the Virginian George Washington. Mr. Welles telis the Presi- dent and Congress tut, by “some fatality,’ I ran the blockade of New Orleans, and that he had ordered the whole affair (uv be investigated. With the biind rage of a madman (j4em Deus vult perdere, &:.,) he will, ue doubt, endeavor to crush the harmless and inoffensive commander of the Brooklyn, who, poor man,no doubt dit his best. He says, aiso, that he hag had six of his Jargest and fastest steamers in pursuit of me, and that the commander of one of them was so energetic as to perform the wonderful ieat of tracking me as far as Maranham, in Brazil. This.1 suppose, is one of those daring act-—the officer being im command of a heavy frigate—which called ferth tho ric of the Yankeo Navy which we tind in avaufequant part of Mr. Wolles’ report; for, after praising his clerks this officer goos on to remark—‘' the patriotic OfMleers of the navy, and the brave men who, in va- rious scenes of naval action, h@ve served under them, the department and the government justly owe aa ac- knowledgement even more earnest and emphatic,” than than that which thoy owe to his clerks! Ob, for a James to portray these “sceuos of naval action,” confined to a predatory warface on the Potomac river, direeted chiotly against women and children; to the capture of a sandbag battery at Hatteras; to the masterly movement of the great Pupont, the “greatest u«val commander of the age” in Yankee hyperbole, who not only koows how to use gunpowder, but, with Yankee thrift, to turn and honost penny by selling it to the government; and to (he pursait of the piratical Sumter, away ever so far, evon to the shores of Brazil, by the gallant Porter, who probably for this feat—so little material bas Mr. Welles for heroes— will be made @ ‘‘flng officar.’’ I feel houored to have been thus pursued by six irigator, and if one of them caught Messrs. Mason aud Slidell instead of catch- ing me, why that is Joho Bull’s ai&ir and not mine, ‘But I am flesing from these ships, says Soft, Mr. Wolles! He would have me, I suppose, faii into the Yankee trap ho has set for me, and rush to the encounter of his six frigntes, the least of which is twice my size and of more than twico my weight of metal. He dares not send a ship of equal force to meet me, and if he did dare do so, being safely ensconced himself in his armchair, I venture to say that the officer would not dare to tind me. But I have to inform Mr. Wolles that by “ some fatality” I have run another blockade. | Lave recently steamed out of the port of St. Pierre, ia the Island of Martinique, jo the face of one of the fartest and finest of his Yankee ships, the Iroquois, and which is more then twice my force. Poor Captain Palmer ! I fear that he too will be immolated on tue altar of tho ‘‘upiversal Yankeo nation,” because he did not catch the Sumter, though from all we can lecrn he had fits on the occasion. This honorable captain is indeed a fit representati.eof the houor of Yaukeo-doodiedom, for he violated tho sovereignty of France and his owa solemn pledge at the same tims, given to the command- ing French uava! officer present, by causing blue lights (brought all the way, uo doubt, from New London Connecticut) to be burned on board a Yankee schooner in the harbor, to signa to him ty departure. But T only allude to this cn passant, as France is abundantly able to take care of her wn honor— If the universal Yaukoo nation Cau whip a'l creation. When Mr. Welles learns, tuo, thaton my way hithor I burned three more Yankee ships ani liberated a fourth ouly because she had an English cargo on board, he will probably send six more of his dougnty war ships after me—that is to say, i: he can spare them from burning corn cribs and frightening women and children along our Southern coast. He will take especial care, too, to put plonty of men and gens ou board of thom, for other- wise I might not be in ‘suc constant flight to escape the avenging power of onr vigilant naval forces.” A word cr two more and I shall have dono. What can wise Mr, Welles mean when he objects to the “rovbery of merchants and others ougaged in peaceful commerce and lawful pursuits’? he not know that all property. with rare exceptions, captured on the high seas, is property belonging to ‘mor. chants and others engaged in peaceful commerce and law- ful purenits?”’ Why this senseless diatribe, then, about robbery, and piracy, and private praperty, and peaceful commorce, and lawful pursuits If Mr. Welles would give mo an opportunity of capturing some of bis public property I woud be mueh obliged to hin, Bat he takes very good care not io do this by sending his hoaviest ships after me; and have the Yaokee naval officers in those “ geenes of naval action’ in which they have dis- Hoguished themsslves refrained from the capture of pri- vate property? Isaw recently in a Yankee paper au ac- count of a wood sloop—that is a sloop loaded with fire- wood—having been ‘most gallantly’ captured and burat, the other day, on the Povom and a number of other smell craft, belonging to the poor people aloug the coast, have been captured from tinie to time, and sent to Yankeedom for adjudication. Even fisherien have been subjected to the game fat class exempted by civilized nations, But T suppose {t is only when the voe- sol is a fine ship of 1,000 tons, belongs to a Yankee, and is captured by the Sumter, that the property becomes private! Astute Mr. Welles! The fact is, that this Northern borde of the Alani, which is bearing down vpon the stnny fields of the South, in imitation of their ancient prototypes, bas (while Me. Welles is singing this hypocritical ong) set all the rules of civilized warfare ai deflanes, and captures private property on the land as well ason the sea. The gallant Dapont aid his unser, pulous hands upon all the cotion he could fad at Beau- fort—a few bales only,as it happened—and, dret and last, mony brilliant achievements in the way of stealing negroes and robbing and burning privete residences have been accomplished by these Northmen amid the “various scenes of naval action’ in which they have flourished. But I grow tired of the subject, and I fear I trespassed too inuch upon your space and aim reminded, too, of the old adage, that He who med- dles with pitch sliall be defited,’? aud #o I will tuke leave of Mr. Gideon Welles and his scurr! ous report. R. SEMMES, Commander Confederate St Coxrepmrats Srares Steaaen Suatien, Capi Navy. jan. 9. DESERTIONS FROM THE RenZL crarr. A tolographic despateh from Madrid, of 16th uit., states that six of the crew of the Sumter Lave deverted. THE SUMTER AT GIBRALTAR. Manrip, Jan. 19, 1862, The Sumtor has beon ordered by the Spanish govera- | mont to leave Cadiz, and sie has gone to Gibraitar. | The War Preparations in England. Malta (ize. 11) correspondence of Loudon Times. | inteDigence of the decision of the Washington Cabi- net to give op Messrs. Slidell and Mason was received hore on tho 9th inst. Her Majesty’s screw frigate Doris, 32, Captain Sir F, L. MoClintock, which left this for Gib raitar on the 30th nit., bas been ordered back at once, ‘The London, 90, Commander J. Simpson, arrived hore frem Corfu on the 9th inst., in five days, under sail. She ‘was to have proceeded to Gibraltar, but will now remain bere for the prosent. {From the London Times, Jan. 16.) ‘The iron steamer Defence, 18, 600 @ power, Captain R. A. Powell, C.B., was yesterday removed from hor Dorit, elongside the floating shears at Chatham harbor, and towed down the river to Foliy Point, where sho will remain to completo fitingr. Hor destination is not yet knowa, but {t is probable ebe will be sont on a short cruise to the Meditorranéan, or some otber less distant thor stenwing and satling powers, and to er returo che is On 4 Bro | 1 kien, And, all by Kpe. dition is b I by the whole i romaine « eamouit 4 @ London T Tho pre a pat war North « v ‘ , ot Milne’s aquadron | fi © screw steam t! ‘Spartan, Wigg!ns, laden with 1.200 tons of shot, shell, and heavy stores, fet the Royal pier, and was towed down Greenhithe to be adjusted for sea, The ¥ bh Robinson, freighted likewise with heavy war stores of a sunilar description for Jamaica, y hove off tothe ‘buoy, to take in her coals and water in preparation for Orders have been received at the Royal Laboratory at Woolwich for the manufacture of 2,000,000 Minie bullets per week, to be continued until further orders. An addi- tional number of boys aud girls have been instructed, under the superintendence of Mr. Tuzer, in the careful method of filling cartridges, so as to hold’ that number of ball cartridges in readiness for transport per week. Tho testing of 100-pounder Armstrong guns, at the Royal Arsenal proof buttcontinues during entire day, until Some time after sunset, in order to supply the whole of our colonial possessions and tho shipping with that for- milable weapon as early as may be. THR WARRIOK NOT ORDERED TO NORTH AMERICA, 1a régard to the reyort that the evlebrated frigate War- rior was to join the North Amorican. fleet, it is explained that the Warrior was about to embark supernumeraries for the Mediterranean and West India stations, and con- vey them to Lisbon. On arriving there she will transfer those for the North American and Weat {ndia squadron to the Edgar, which would gail immediately afterwards to jom the Squadron of Admiral Milue, while the War- rior would await further instrustions at Lisbon. ‘The ships-of-war which had assembled at Gibraltar were expected to bo ordered back to Malta. The Reception of Mason and Slidell. Pans, Jan. 19, 1862. ‘Tho Temps, in announcing that Messrs. Mason and Sli- dell are expected to arrive shortly at Havre, says that no ‘obstacle will be offered to the fulfilment of their mission to France and England. The Plenipotentiaries of the South will be allowed to plead for the recognition of the South. ‘The Prewe says that tho French government will not receive Messrs. Mason and Slidell, nor any other Southern Commissioners. THE FEELING IN FRANCE. No Hope of Recogn ition for Slaveholders. (from the Revue des . ile) of jan, England and France, if thoy respect tho principles which dobonor to their policy and their real interests, should desire but one thing—the close Ge revo- uti nary condition of the United It is clour that the inost just, the most natural he most efficacious means of putting an end to the struggle ia to leave to tho North its freedom of action, and mot to en- courage the South in its resistance by allowing tt to believe that it can bring to its defence the great European Powers. Tho insurrection ‘and the separation of the South have a motive which is repug- pant to liberal Europe; that motive is the maintenance of slavery as a@ permanent institution. Tn this the Southern States have counted upon a Kurepean interest—tho cot- ton intereat—and the failure of the raw material. In a politigal point of view, the secession was a speculation in cotton. Europe must prove to the South that the specti- Iition is a bad one and cannot succeed. In the Noth the Union remaining compact and strong, the Southern confederaticn maintaining slavery and holding possession of the outlets on the West by the mouth of the Mississippi, poace is not possible between these two sopa- rated States. How could England and France allow themselves to be draggod into an interminable war in order to obtain one year's cotton crop? But, if the actual necessities of a branch of their indusiry blinded them to an unjust policy, they would stilt expose themseives to sacrifice the permanent cultivation of cotton in the South- ern States to the su advantage of obtaining tho crop of one year. Facts have shown that the prolongation of the civil war, though confined to its present limits, tends to ruin in the Southore States the cultivation of cotton, What would happen if, civil war aggra- vated by a forcign war, the Washington government were forced to raise immediately and radically the questiog of slave labor? In a short time the cultivation of cotton would disappear from America, and France and Rogland would thomsplves have contr:buted to the anni- hilation of that which was to be the reward of the grati- tude of the Southern confederation, and a war booty against the North, Mersrs. Mason and Stidell, accompa- panied by" their secretaries, will not succeed in making France and id commit an acl of so much folly. The Boglish would havé bravely carried on a ly war for them; thoy would have dene so for two or three negroes, as the Times said in its energetio language, if a question of honor forced them to it; but they will not do so even for tho cotton. interest. Let them not fall into a mistake a3 to the sentiments of Franco from the encouragement given to the cause of the South by a few French journals whose conduct it is difficult to oxplain. They will not find Franc: disposed to recognise the Southern confederation. ‘The greatest and the ovly triumph of their embassy to Europe will bo that of hav- ing cost England four millions sterling; and, after all, xt is autly to Capt. Wilkes that thoy owe this notable triumph, France has more than one reason to rejoice at she favor- able settlemont of the Anglo-American difference. She has played, through hor diplomacy, an honorable part in this alfeir, M. Thouvenel’s despaich to our Minister at Wash- ington, written at the commonceinent of the diterence— that is, at the very morgent when the influence of France could be exercised with the greatest advantage to both parties—combined in exact ion both what we owed io ourvelies in support of the true prinviples of marilim: law, what we owed to the English alliance, and what we owed to our old friendship with the United States. We should not be surprised if tho ree. interference of our diplo- macy guined for us the thanks of Lord Russell and Mr. Seward. The utility of the co-operation we have given to England is obvious. To the United States government the service wo have rendered is uot less. In his despatch M. Thouvenel reminded that government that, on the quostion of the rights of neutrals, the United States wero lodged to the same maxims as France. That indication Bes fuat corroborated the yory becoming 1 which Mr. Soward has made to the constant traditions of his government in disavowing the conduct of Captain Wilkes, The procise deciaration of tho opinion of France on the affair of the Trent is useful to Mi —— against the pa- triotic susceptibilities which havo been roused Doth in Congress and among the people by the conces- sions obtained by England. But as regards France, she my well congratulate herself ad the conclusion of the Anglo- American difference, with respect (0 our internal policy. The menace between America and Eng- jand was a diversion too strong for the political nerves of France. It turned our attention from our own bust- neas, and perticularly from a class of su financial and political, which the acts of the 14th of No. vember (M. Fould’s letter to the Emperor and the decree adopting it) had raised, but which had falien into the shade while the problem of peaco or war remained un- solved, The Invasion of Mexico. ENULAND SOMEWHAT SORRY FOR BER PARTNERSHIP. {From the London Herald (Merby organ), Jan. 17.) Tho continent of North America takes something more then its share in the interest of the a Tt is not ‘nongh, it seems, that a large portion of that continent should be just wow agitated to its centre by a civil con- test which waxes every day more ferocious, Tho half Spanish people of the South—thoee who dwell almest on tho borders of Coatral America, peopling the arid seacoast and the lofty plains of Mexico—aro now to have their turn of trouble, for an invading army is now established on their soil. We may feei pity, we cannot feel respect, for this people. ‘ihere are sayy who arguc that the faxon race in tho Stutes is slowly but sately deteriorating frcm the original type. Int se Of the Mexicans thereare none to argue the matter, it being agreed on ali hands that the Spanish blood fa their veins hae rather spoiled than improved the breed of « people that is inferior in all elements of man- liness to the race of civilized Leathens whom Cortez con qnored, If it be urged on their bebalf that at all events they succeaded in shaking off the rolo of Spain, the plea is met by the statement that they «li no wuch thing. * * * * * » * If ithad not been for the difficulty with North America a British force would ere this have ben in company with the Spanish squadron in the waters of Vera Cruz. At prevent we hear only of the Spaniards, and to their fleet and army has fallen tho credit of the only success which ig likely to be gained by the jntorvening powers in Mexico. Vora Crug, bas fallen into their hands; Une Mexican commander las retired before them without an attempt to save the place, and the fortress of San Juan do Ulloa has boisted once more the flag of Spain. We ave at « loss (0 conceive what the Spanish commander intends to do nex’, or what the French and Lnglish forces are to do when they have joined him. It is cloar that tho in. tervontion cannot be intended for the sole ac Spain, If the Spanish Geuera!, who in his proc! speaks #0 magniloquently of Lis mission to avengo the wrongs of his conntrymen, entertains any idea of this xort, of harbors thé notion of reomquering ‘the country for hia mistress, we think it well that he showld be cet right as speedily as possible. The only forward movement posstble to hira would consiat in amarchon the city of Mexioo. Aw that city i# about two huudred and Afty miles distant from Vera Cruz, and Hiee at a height of 8,000 feet above the ea level, as the conniry between these places ia for the most part an arid desert, tach & march would obviously be attended with coneiderable difienities. And as even the mst pusilla. nimous people may excel in & sort of predatory and guerilla warfare, it would be most unwise in acommandor to attempt such an advance without an army ten times as large as that which General Prim is hastening to join. we think it a most unfortunate thing that our govern- ment should have given Ks sanction and co-operation to a wild crusade which seems likely to have for its chief regult the fartherance of schemos of aggression and con- est. We shall gain little credit; we may rom this w-adcisett Mewican inirrocntio eas profit m. We trust that it may soon be over. The sequestration of the reveuues of Crua, which, as it is the chief seaport of Mexico, act of ob- jis expedi- should be considerab.e, would afford us a pi taining some indemnity for our oxpenses in tion, if not all the satisfaction that wo ask, France. The Journal des Debate thinks that Lord Palmorston’s intentions towards the United Stator are not pacific. ‘The Paris correspondont of the London Times reports that the Em} had decided that Senceforth no ‘vertivse. ment aball on to any of the important journal without previous examination and discassion fore th Council of Ministers. ‘Tho Paria correspondent of the London Morning Post ‘writes as follows:—Jt appears that Mr. Dayton, the Ame- rican Minister at Poris, sent ina list of some iy to thirty American citizens for proantation at the Tuileries jew Year's Day, {he reprosentative of the Untied jon tharcnpon received a note from M. Thonveuel, f Voreign Affairs, requesting to know what was gentlemen ond jadion nov of baing presented to their Impe- tue 1 saying that Mr. Dayton simply w08@ presentauon he bad why would be receivad h Vintes, Tt resulted that if aL the © y? yresonoe at Court, _ = stock of late, and hence, notwithstanding speculators, prices are barely maintained. ‘mer occasions, of some persons of American of wenel’ * orm. wre tote toe Inyens was the cause the ‘The Emperor had boen slight!y wounded in the neck by | The future of the market depends vu; ‘the some stray shots from shooting. — ‘The Bourse wes Brn and higher, Routes os the 17: | C@PACIty of the present buyers to carry closed at 69.50. the stocks they have, and upon the supply no of cash stock which may yet cowe upon the mar. ket. So far ag we can judge, the market has already taken all or nearly all the stock which has been in the hands of the late bulls, and the circle of buyers appears to be widening. At the morn ing board there was a general advance in Erie se corities. Erie (old) rose %, preferred +4, and the fourth mortgage bonds 234. It is expected that Erie will be in demand for Euglish account, New York Central rose 34, Hudson 4, Michigan South- ern 4, and guaranteed }{. There were large pur: chases of Pacific Mail for cash, and it rose 4 per cent, The books will close in a day or two for the February dividend, which, rumor states, will be five per cent. Speculators predict paf dividend off for the stock. ‘The decline of the morning was }4 in Rook Island, 34 in To- ledo, % in Galena, % in Illinois Central, 4 in Michigan Central, 4im Reading, and % in Mis- souris and Tennessees, Government sixes, which are unfavorably affected by the inaction of Con- gress, declined 14 per cent, At the close of the morning scasion the. market fell off a fraction, then rallied on an absurd rumor to the effect that the Governor of North Carolina was rallying te the side of the Union, and afterwards fell off again on rumors of an unfavorable tone in the private letters per the Africa. At the second board things were dull, and closed unsettled, the following being the last quotations:—United States 6's, cou- pon, 1881, 89 @ 44; do. 5’s, coupon, 1974, 78 a 7924; Indiana 5's, — a 76; Virginia 6’s, 51; Tennessee 6's, 44448 %; North Carolina 6’s, 62 a 14; Missouri 6's, 42a 4; Paoific Mail, 9834499; New York Central, 8334034; Erie, 34% a %; do. preferred, 574% a 4; Hudson River, 3894 a 39; Harlem, 12% a 13; do. preferred, 30% a 31; Reading, dla 3%; Michigan Central, 51% @ 52; Michigan Southern aud Northern Indiana, 2134 a 22; do. guaranteed, 42a 4; Panama, 113 a 44; Mlinois Central, 60% a 61; Galena and Chicago, 67% a 68; Cleveland and Toledo, 4134 a 42; Chicago and Rock Istand, 54% a 55%; Chicago, Burlington and Quincy, 6244 a 63; Milwaukee and Prairie du Chien, 20% & 21; Cleveland, Columbus and Cincinnati, 105 a 106; New York Central 7’a, 1876, 10434; Evie third mort- gage bonds, 94; Michigan Central 8's, first mort- gage, 100 a 4; Illinois Central bonds, 7's, 94 a 96. Among other items of news by the Africa we notice that the British Commissionors of Customs have removed the prohibition on the export of saltpetre and lead. The recent action of Great Britain should teach Congress to lose no time in restoring the duty on Jead to the old figure—three cents a pound. When foreign lead paid this duty we not only produced all the lead that was needed in this country, but were exporters of the article. {t is only since the duty was reduced that we have become dependent on foreign nations for one of the most essential materials of war. The restoration of the old duty will, in a very short time, render as again independent of Europe for our supply of lead, and will, meanwhile, yield a very handsome reve- nue to the government. We learn that the United States government have leased the Merchants’ Exchange for the use of the Custom House, with the privilege of buying it at a fixed price. Mr, Barney will move into hia new qnarters on the lst of May, and will be ac- companied by the Appraisers, Surveyor of the Port, &c., who have been heretofore lodged in buildings hired by government in various parts of the city. The present Custom House building will he used for the Sub-Treasury, whose business has been vastly extended by the war, and whose pre- sent accommodations are neither adequate nor se- cure against fire. Nothing has been determined with regard to the future location of the Merchanta’ Exchange. Many merchants seem to think that a small room in connection with the Chamber of Commerce will answer every purpose, especially as, since the opening’of the Corn Exchange, the business on "Change has dwindled down to the en- In the Italian Senate on the 15th, Baroa Ricasoli made ®@ general statement of the policy of his ministry. He commenced by stating that he had endeavored to com- plote the Cabinet by the appointment of a Minister of the Interior, but that the pending reforms created insur- ‘mountable obstactes. He was uot dispesed to make a com- promise with political parties. Tho ministry, he con Uinued, did not consider that it would be dignite ‘on their part to resign without a declaration of want of confidence from the House. Should it condemn their policy they would know their duty. As regards the affairs of Naples, he said the government had accepted a heavy responsi: bility in order te hasten the accomplishment of tho uniti- cation of Italy. Touching the Roman question, Baron Ricasoli said:— At Rome the destinies not only of Italians, but of huma- nity in general, will be accomplished. It’ is not possible to determino tho time of our triumph. It may bo that at this ry. moment our destinies are ripening. The Ministers Cordova, Menabrera, Bastogi and De poser gave explanations relative to their several depart- ments. Commandor San Martino said he had had two inter views with Baron Ricasoli on the subject of his entering the Cabinet. In the first ho gave a decided refusal, and in the second heexplained his views in reference to the Policy of the government. He did not think the fluances corresponded with the vigor infused by the ministry into the national policy. He should wish to see the questions relating to diplomacy, faance and thearmy progress har- moniously to a settlement. As it was not likely that the politioal questions now pending in Italy wonld be resolved within a bricf period, he should wish the government to dectare to the country that without renouncing their object they would have pursued it with means not of such a character as to entail financial ruin. The Marquis de Villa Marina thon requested Baron Ricasoli to explain the passage in his speech—* it may be that at this very moment our destinies are ripening.” Baron Ricasoli replied:—‘ J expressed myself thus be- canse the Roman question, being ® moral questiongmukes Progress every « He requested from the House an exp) Heit vote, either approving or censuring the ministe rial policy, — Sd resolution was thon almost unanimously opted: — The Senate, being satisfied with the declaration of the m nistry, passes tv the order of the day. ‘The subject of subscriptions to Peter's pence had bean debated; but ministers said they could do nothing in the matter. Some French troops had entered Alatri and arrosted ten Bourbon ofiicers. ‘Turm, Jan. 19, 1862. Garibaldi has refused to accept the Presidency of the National Society of Provideiments Turw, Jan, 18—Fveuing. Tho Chamber of Deputies have decided that the propo sition of a member for a universal exbibition of the in dustry of all nations, to take place in Naples in 1363, shail be considered. Poland, Private advices from Warsaw state that eloven more students bad been condemued to serve as soldiers in the army of Siberia. It waa reported at Warsaw that Mons. Chigi, the pre- sent Papal Nuncio at Paris, would be transferred to St. Petersburg, and that it was the wish of the Pope that tho Nuncio should reside alternately at St. Petersburg, War- saw and Wilna, Turkey. Much ill feeling is roported to extst between France and Turkey. ‘The insurgents of Zubzi had returned an insulting rep!y to the proclamation of Omar Pasha, in whigh he prom‘sed thom an amnesty if they surrendered. Chi A private letter from China detailing the barbarities perpetrated by the rebels, and relating how. they wore driven off from Yentae (Chefvo) by the French aud Kg. lish, aays:—Previously, two American missionariea—Mr. Parker and Mr. Holmes—hoaring that tho rebels “were likely to visit Yentae, buckled on their revolvers, mounted their horses and rode out thirty-five miles to meet them. ‘ihey passd the outposts and gut to the chief; they avked bim his intention, questioned Lim as to his religious belie’, explained a little Christianity, and wero thea cut to pieces by his people. Commercial} Intelligence. THE LONDON MONKY MARKET. {From the London Post (City Article), Jan. 18.) The English fands have been duit to-day (17th), and consols havo lost the advance obtaiaed yesterday. ‘The return of the Bank of England boing considered on the whole as favorable, consols opened at tl proved ‘ice since last evening of 9334, buyers. The imarket, ywever, soup afterwards gave Way upon various sales being effected, the impression being that at every rise the market is supplied with stock: and at the close of business quotations had not recovered tho last price, being 93%% 4 93!{, money and account. Bank atock was dealt in at 240 241; 3 per cont, reduced, 9334 a 92%; new 3 per cents, 933; a 92% 9 93; Exchequer bills, 215. 185. promium. Ta tho foreign funds the transactions continue numer eutities aro ail exceedingly wel! generally short Chilean, Mexican, Portuguese, Spanish aud Turkish wore firmiy held, New Granada ‘and Venezuela wore in de- | gaging of frei; th of a few bills of ex- mand. ‘Theland warrants of the former arc. quoted es has bach fi to-day at2\% percent. The 6 per cont Italian loan has | Change. By the Africa, arrived this morning, we have ad- vices from London to the 18th inst. inclusive. The demand in the discount market was noticed as rather better, and there were few transactions be- Jow two and a quarter per cent. Baring Brothers & Co. state that American securities are without change or business. E. F. Satterthwaite says:— We have had a fluctuating market in Amer ican seourt- ties since our last. Quotations materially improved on the solution of the Trent diffculty, but gavo way rapidly a the announcement of the suspension of specie a ments in New York, Philadelphia and Boston. ‘Such oa event, in the view of British capitalists, might possibiy bo the forerunner of a national financiat paralysis unex- ampled in the history of tho United States. lino! shares, whieh had been 41 discount, declined to 44, and Erie, after tonehing 294g, gave way to 273g. At the close the market is steady, but nothing doing. The London Times of the 18th thus notices and aiso improved, and begins to attract attention from in vestors. In coiwnial government securities Cansda 6 percent ponds (1877-9) were done at 10814: do. (Feb. and Aug.), 110°4; do. 5 per cents, 983g a 99; New Brunswick 6 per cents, 10534 # 105. Virginia State 6 per cent bonds feteied 4744. Asmall parcel of gold, about £2,000, was taken into the Bank to-day. In the early part of the week we called attention to the fact that gold was beginning to be gent to the conti nent, in consequence of the demand for silver. This efflux, although for the moment of little importance, is likely to go on for the present. [t must also be observ that the produce of the Moorish loan will be sent to Spain in boliion. ‘The demand inthe discount market has beew rather more active than during the last few days. MESSRS. RICHARDSON, SPENCE AND CO.'S CIRCULAR. Liverroor, Jan. 17, 15 Corsox.—The demand has becu very limited all the week, and as many holders have been willing sellers pricos have daily declined, and at ¢ ly one half penny pe lower than on Saturday last. This | qnotes the market: — reduction applies to ell kinds of cotton, excepting Sea i, jsiands, and these are rather dearer. ‘The quotations in the colonial department Canadian descriptions were again rather firmer, Grand Truuk elosing at 21 @ 34, and Great Western Ia’. American securities were flat, partiewiarly the bonds and shares of the Lifiuois Contral, Canada five por cents 98 a 99. Middiing Orleans, 13d Is, 1244. per lb.” Tn me to a stand; arly nominal, Mobile, 18% and de ester ‘business has al annot be edgcted and prices rAperusrs.—This week we have had again very large | United States 5's, 1874, a 70 vals, but there is no preesure to sell wheat, and at x | Virginia 6’ fe a 43 je nader current rates thore are buyers of quantity | Atiautic aud Great Western, ‘On Tuesday there was a good attendance of tho trate mortgage, 1889, 7 per cent,. +60 a 65 Whoat, however, so'd only to @ lim extent, atare- | Erio shares... see ceoeees 27 a 2 duction of 14, 9 21. per conta!, closing with x rather ho. — Pper cent prefereace 47 a 49 firmer feeling. Flour froely offered at a decline of 1s D. assessment serip Iya 2 per barrel, without leading to busi: Indian corn | New York and Erie T's, 1867 83 a 92 alow audessier. At to-day’s market wheat met a goo Do. do, 2d morigage, 1869. 83 4 88 deman!, both on and consnimption, at an ad Do do. 3d mortgago, 183, assented.76 a 17 vance of 2d. a St. por cental on Tuesday's rates. Flour } {liaols Conttal 6’, 187: Th a 76 rather firmer, but loult to Inia corm in ie T's, 187! 78 a 80 request y advenced s. We quote Do. $100 sh wes, $85 pat i8.44 as 8g t . 102. a Le. 2d. for Chicago Do. ‘all paid. soees53 O60 Michigan Central 8's, con. , 1860. Do. sinking fond 8's, 1882 ukie and ambor Iowa; 2: n. winter; 128, 4d. a 12s. 6 do n c 123. 6d, a uthern, 133. a New York Contral 6's, 1983. $d. per 100 \bs. Flour—Fxira State, 20s. 6d. a Iw, do. extra Ohio, 308. a 828, per 196 lbs. Indian corn—Mixed, To. do. 6. . per 480 Ibs. bo. do. Whita, 35%. % i Panama Tet mortgage 7's, 1865. Do. 2d mortgngo, 1872. . Ponuaylvania Contral 6's Do i sing only for present wants, prices rather Pork slow of sal doctining rates. Bacox continues freely offered, holiers showing evory i disposition to sell, and prices are again 2s. per cw. Do. $0 8! cheaper, but with rather more business. We quo Philadelphia cad ioad.ng 6's, 1870... day 38s. a 403. for Camaberland cut aad long middies; De, $00 Siaares...... 6.6 . or short middies, ribs in. son, under large arrivals, had ferther déclined ts. a:| The last Bank of Bagiand, stateupens shays the t following variations as compared with the pre- vious week:— out improvement, the demand haying quite disappear: : Tatow depressed and prices declining. Wo exnnot F ms Decrease, quote over 488, Gd. for Butchers’ Association, and 478.0 | Public fe ne eave am on 482, for Now York city rendered. Othor deponits..-. ian 1726, ‘Qvunermon Bank gteady, at 139. 0 19s. 6d. for Phila. | Notes in cireu! 3 ‘44.876 os delphia, and 10°, a 11s. for Baltimore. Bomb, ..... sees . ‘y Kooy duil, at 198. @ 188, 6d. for common, — , easag On the other side of the account: Swi og quite neglected. Z 600,000 TS 1,012,641 = = hs mer FINANCIAL AND COMMERCIAL. | Notesunompioyed.. - 79,980 The following are the rates of discount ia the principal cities of the Continent:— Bank: Rate, Op. Market. Fripay, Jan. 31—6 P.M. In some quarters there was rather more demand Peron, Per cen. for money to-day, ond many of the brokers are 6 4% paying six per cent, Others, however, obtain all $ § my aa the money they need at five. First class paper +38 EY rules, as yesterday, at 6 a7. Letters by the Africa bc H state that no loss than £55,000,000—say $275 ,000,- ry 4 000—-are deposited in five joint stock banks in ft Poerebury oo ; ax England at 1}4 per cent. Some English writers atate that a portion of this money would andoubt- odly be invested in American securities but for the general impression that we are a nation of ewind- lers, and do not intend to pay our debts. The The balance eheet of tho Cleveland wad Toleto Railroad Company, submitted to the directors at the meeting held in this city on the 28th inst., which was made up to the 24th inst., shows: Y seleapesnobebeseseseeseuareosses $78,514 scourities of Brazil and Turkey appear to command Ser oe pemie and Brie and othor companies on - ae a higher position in British esteom, and are rising aa x fret Bese: Sanaa, ie in the market. saa Foreign exchange is irregular, and fluctuates Pi sibs dn ats from hour to hour. At one time to-day no good pills could be bonght under 113%; but later in the afternoon we heard of bankers’ signatures at 113, and the closing rate generally reported by the brokers was 113}4. Francs are quoted at 5.00, Gold was rathor firmer to-day, and was held at 103% at the close of business. At this premium there is | no profit on the export, 6f coin to Europe. Palance. +O eeeees ‘Phe exchanges at the, Bank Clearing House this morning were $13,824,674 63, and the balances $005,646 O4. ‘The Long Islan% Bank has declared a semi-an- nual dividend of four per cent, payable on de- mand, The stock marke’ continues irregular. Tho The hovsd of Meigs & Oreonlvaf, of the Stock general tends of operators is to buy for a | Exchazgo, has been dissolve! end two now firms r8o; prt thove has been @ very free supply | formed, viei—Charles A. Meigs & Son, at 60 Ix