The New York Herald Newspaper, February 28, 1862, Page 2

2 Veved tho feders! government had not tendered the oath Of allogiauce to Brivish subjects, knowing them to be such. aw The Blockade. MISREPRESENTATIQNS OF THE LONDON TDESS, Far! Malmesbury, inasking for the papers connected with the blockade, complained that the London Pimes had deliberately misrepresented that Karl Derby advocated its being forcibly raised. He approved the conduct of the , and the question wag one for them alone to decide; but it was desirable to know what was the real state of the blockade. He expressed doubts of the policy of the declarations of Paris, 1850, and did not believe ‘they would or could be curried outin great wars, when circumstances would be too strong for abstract principles, Earl Russell said that on the first night he was glad ty find that the noble Earl opposite bad approved of the conduct of the goverument, and“the country must feel confidence when all ts leading men wereagreed. Tho papers were now being printed, They would be in their lordship’s bands before long, and he hoped they would reserve their opinions till then, considering the impor- tance of the question. Mr. Cobden on Maritime Law. In tho House of Commons, on the 10th instant, Mr- Cobden gave notice that at an early day he intended to ‘Dring under the consideration of the House the state of international and maritime law, a9 it affects the rights of belligerents. Eaglish Supplies to Union War Ships. Livgapoo., Feb, 14, 1862, ‘The English Commissioners of Customs have formally instructed the officiais in various parts of the country to carry out Earl Russell's instructions relative to supplies for American war vessels. The Burnside Expedition. PREDICTIONS OF THE LONDON TIMES—THEY ARE BASELESS AS RUSSELL’S. The London 7imes, in an editorial on the Burnside expe- dition, says the force engaged is plainly inadequate to the ‘service capected, and i’ Burnside wishes success he will in- trench himself, establish @ good base of operations and await reinforcements before running the risk of pene- trating the enemy's country. Russell, LL.D., Prophesies Again. BIS LAST AND GREATEST FAILURE AS A MILITARY ASTROLOGIST. ‘The London 7imes of the 13th instant publishes further correspondence from Mr. Russell, from New York. In it the writer says that the Army of the Potomac is not likely to move till the winter is over, and that a mutinous spirit prevailed among men, many of whom are better off than ever they wore, and that the various expeditions by sea had so far accomplished nothing of moment. The affair in Kentucky he regards as the greatest success yet achieved by the Union forces, The Victory at Mill Springs. The London News reviews the engagement at Mil) Springs, Kentucky, a8 a genuine and important federal Suocess, and thinks if—as it may reasonably hope—the federal troops engaged in it may be taken as a@ representa. tive specimen of the Union army, as it has become under McCielian, the regult/of a rapid and decisive action cannot be doubted. . The Privateer Sumter. ‘Mapa, Feb. 13, 1862. The Sumter is still at Gibraltar, although the English authorities gave hor notice to quit. Sevoral of her crew have landed, and will not re-embark. Mr. Slidell in Paris. HIS DIPLOMATIC CHARACTER IGNORED. Paris lettors say that Mr. Slideli had beon received by M. Thouvonel in @ private capacity, his diplomatic ar sumption of character being distinctly ignored. The Invasion of Mexico. ENGLAND SANCTIONS ELECTIVE MONARCHY. ‘The diplomatic correspondence concerning the inter- ‘vention in Mexico had been laid before Parliament, Ear! Russell in a late letter to Sir Charles Wyke touch” (g the romor that the Arch Duke Maximilian would be calied to the throne of Moxico, says:—If the Mexiean people, by a spontancous movement, place the Austrian Archduke on the throne, there is nothing in the Convention to prevent it; onethe other hand, we could be no parties to forcible intervention for this purpose. France. ‘The bill for the conversion of the 43¢ per cent rentes having been passed by the Chamber of Deputies, by a vote of 226 to 19, the Senate on the 11th instant unsni. mously declared that it did not oppose the promulgation of the law for such conversion. Tt was announced in London on the 11th instant that the negotiations with certain capitalists of that city for the four million sterling loan to the French government or ite agents had been suddenly broken off. The cause of the abandonmert was not stated, except an intima- tiom to subscribers that the securities which were to be bypothecatod are not to be obtained. ‘The discount bank as St. Etionne had stopped payment- [ta capital, to the amount of 96,000,000 francs, has bea lost. ‘The Bourse on the 12th closed firmer. Rentes, T1f. 35c_ Another note on the affair of the vailey of the Dappes, had been addressed by the Swiss government to M. Thouvenel. It maintains the position taken by Switzer- Panis, Fob. 12, 1862. The Moniteur publishes the law on the optional conver. ston of the 435 per conts. The decree fixes tho difference to be paid at Sf. 40c. for the 434 per cents, and 4f. 20c. for the 4 per cents. The monthly return of the Bank of France shows an in- crease in casif of 47,500,000 francs, in bank notes o 84,000,000, in Treasury notes of ten and two-thirds mii’ lions, in current accounts of 40,500,000, in advances 82,250,000, and a decrease in bills discounted and not due of 13,000,000 franca. Spain. M. Mon has accepted the Presidency of the Cortes, made vacant by the death of Martinez de la Rosa. It ig said that France has consented to fix the amount of the Spanish debt of 1823 at 20,000,000 francs, and that @ decree for its sottlement has received the royal sig. nature, It was considered probable that Senor Gonzales would be appointed Spanish Ambassador at Paris, and that Senor Isturitz will be President of the Council of State. Maprip, Feb. 12, 1962. Senor Mon will retain his appointment as Ambassador to France in addition to his new post of President of Congress. ‘The statement that some public office had been offered ‘to Narvaez is unfounded. Important from Germany. PROBABLE DISSOLUTION OF THE CONFEDERATION. Brauy, Feb. 15, 1862. Important events are approaching in Germany. Saxony having proposed the reconstruction of Germany more strictly as a confederacy, Prussia repiied that she considered the German Confederation as an internationa, and not a federal part of Prussia, and hinted also that & reform of the federal constitution might be carried out in such a way that besides the German union, comprising Austria, closor federal union might be formed betwoon Prussia and euch German States as might join her, there. by establishing a kind of political Zoliverein. Although this was no formal proposal, but a mere Suggestion, Austria, Bavaria, Hanover, Saxony, and a majority of the other States, Daden and Coburg excepted, Temitted a collective note to Prussia protesting against her views, and announcing (heir intention to hold @ conference for the reorganization of Germany, in accordance with the views of Saxony, and inviting Prussia to join the con ference. Prussia declined, and this is expected to lead to a dis- solution of the Federal Diet, Debates on the German question are expected in the Prussian Chambers, which may bring about @ crisis in Germany. Italy. A great popular demonstration took place at Genoa on Sunday, the 9th inst.,fin favor of Victor Emanuel, and Rome as the capital of Italy, At Milan, on the same day, proparations had been made for a demonstration, but the Municipality issued a notice that such demonstrations were useless, and ad. vieing the Milanese to exercise their constitutional rights by signing the following protest: — Although respecting the Sovoreign Pontiff of Romo as ‘be head of the Church, we look upon Rome as tho capi- <1 of Italy with one King, Victor el. ‘This protest soon received an immense number of gnatures. Macon Ricaroli had iseued@ cireular on the Roman fon, in which be observes the government still “wes the execution of the national wishor, and hag nally stated by what ways and means it intends to ed to Rome. The Ministry alone will decide on means aod tho opportunity of employing them. ‘Tho government desires that its labors may mot be im- peded'by inconsiderate agte of exthusiazm and clamorous manifestations. Prefects should enlighten public opinion ané make uze of their authority in order to prevent these popular manifestation. Popular demonstrations havo taken place im several other Italian towns, ‘The cotton manufacturers at Genoa, who employ up" wards of 25,000 hands, heid a meoting to consider moans of alleviating the effects of the present crisis in the cot ton trade, A committee was appointed to report om the Taatter. Austria, Letters from Vienna are filled with most lamentable accouats of the inundation, The district submerged in Vienna alone comprises &@ population of 80,000 persons to be provided for. Rain fell for four days, almost without interruption. Bridges and viaducts were destroyed, and the railroad service was pearly all suspended. Severa' towns were also inundated by the Danube, including Presburg and Pesth. Other Continental rivers, particularly those in Holland, had also greatly risen, and were causing much alarm. ‘The Prince of Wales had arrived at Visnna, aad had Deen visited by the Emperor Franeia Joseph and the Arch-Dukes. Turkey. Asovere engagement between the Turlas and Montene- grins had taken place near Sestari. The loss was heavy on both sides. ‘Thoreare rumors at Constantinople of fresh Goancial projects for the Turkish treasury. Australia. . Macpoonye, Dec. 26, 1862. Theamount of gold shipped since the last mail has ‘deen 173,245 ounces. Trade is steady. Cape of Good Hope. Transports .nd other vessels sailing around the Cape of Good Hope are boing armed. st Coast of Africa. ‘The January mails from the West Coast of Africa had reached England. Increased activity in the slawe trade was reported. The withdrawal of tho American squadron led immediately to ‘a large increase in the number of vessels carrying the American fing. ‘The bark Manuel Orthese, from New York, but sailing under British colors, had been seized in tho Roads of Cape Coast, on the suspicion that she was a slavor. Commercial Intelligence. THE LONDON MONEY MARKET. ‘The English funds on the 12th inst. were firm but dull. Consols were a shade higher. ‘The discount market was casy. Good bills sold at 234 a2y. ths funds on Thursday, Feb. 13, closed firmer, Consols, 93 a 933. merican A securites unaltered. Sales of Illinoig Central shares at 443, a 433; discount; Erie’s, 23a q The Bank gland return shows a favorable move- ment in coin and bullion, in spite of shipments tothe Continent. ‘The Times city article of tho 13th inst. says the rize in the funds yesterday of + was firmly maintained to the The discount market was unaltored. LIVERPOOL COTTON MARKET. ‘Livenroot, Feb. 13, 1862. Sales of three days, including Wednesday, 28,000 bales, including 16,000 to speculators and exporters. ‘Tho mar- ket closed firmer and with an upward tendency, but without change in prices. BREADSTUFFS MARKET. Messrs. Wakefield, Nash & Co., Richardson, Spence & Co., and others, report flour heavy and 64. lower: quoted 283. 831s. Wheat quiet, but steady. Corn flat at 6d. de- cline; mixed 30s. 34., yellow 90s. 6d., white 4s. a 3T¢. PROVISION MARKET. Beef dull and unebanged. Pork decliaing. Bacon easier. Lard very dull at 438.0456. Tallow quict at Pearls "ase. 6d, Sugar . 6d. ver} Rice quiet. Rosin dull A 128.0d.a,13s. for common. Spirits turpentine quiet, but steady. LONDON MARKETS. Wheat firm. Flour dull, and 6d.a 1s. lower. Sugar steady. Coffee firm. Tea buoyant. Rice easier. Tallow steady at 46s. 9d. Linseed oil steady at 34s. 34. THE LATEST MARKETS. Liverroot, Feb. 14, 1862. Corto The Brokers’ = Teporis the sales of the wook at les, us sf to speculators and 10,000 ee pees: ‘The market closed firmer, and with an upward tendency, but unchanged as to quota- tions. The sales to-day (Friday) are estimated at 12,000 Dales, including 6,000 to speculators and » the market closing firmer but unaltered as to prices,’ The @uthorized quotations are:— Uplands, 1344. 12344. Stock in port estimated at 525,000 balos, of which 194,500 are American. — steady, except corn dull at 30s. for mixed. Provisions declining. LONDON MOwEsY MARKET. Lonvow, Feb. 14, 1862. Censols closed at 933¢ for money. The Treasury Note Bill. THE TREASURY NOTES IN CIRCULATION—THE EF- FECTS OF THE PASSAGE OF THE TREASURY NOTE BILL—LEGAL TENDER, ETC. The Treasury Note bill, which, after a delay of several weeks , bas at length passed Congress, and, by the signa- ture of the President, bas become a law, is the most im- portant financial measure ever enacted by our govern- ment. Our readers are already familiar with its details, and it will therefore be unnecessary to recapitulate them. A few words, however, in regard to the immediate offect of its passage will not be out of place. When the bill shall bave gone into practical operation, the United States government will have the following dif- ferent kinds of Treasury notes in circulation :-— First—Notes bearing an interest of six per cent per annum, issued under the act of Congress, rodeemabie at any time within two years from the date of issue ; also the six per cent notes issued before the passage of the act named above. Second—The notes bearing interest at the rate of 7.50 per centum per annum, issued under the act of August, 1861, receivable for all public dues except the dutiagon imports. Third—The notes issued before the advent of the pre- sont administration, in the dark days at the beginning of the rebellion, to the lowest bidders, or, in other words, to those who would take them in return for gold at the lowest rates of interest. These wore awarded at high rates of interest, ranging from ten to twelve per cent por apnom. They aro recoivable for all public dues, the du- ties on imports included. But fow romain in circula- tion, as they hav e been called in, and the interest ceased to aecrue on tho Sist of January. Many of these notes were paid for duty at the Now York Custom House in December and January. Fourth—The demand notes issued Inst summer, receivable for all public dues, taxes and duties on im- ports included. These notes, by the act just passed, are to bo received in payment of dutios as heretofore, but, contrary to the formor custom, are n but are to be prt out of circulation’ as quickly as practi: cable. Fifth—Tho demand notes, to the value of $150,000,000, which are to be issued! us quickly as possible, which to replace the demand notes already issued and in circu. Jation, and which, unliko any other paper issues of the government, are to boa legal tender in the payment of all debts; they aro receivable for taxes, and all other debts to the government, with the exception of the duties on imports. ‘These five classes of notes comprise all now in circu- Jation or to be placed in circulation. under laws already passed, Tho largest values aro represented by the notes of the second, fourth and fifth classes. jose of the other classes are mostly redeomed and withdrawn from circulation. The first effect of the passage of the Treasury Note DAI has already been to advance the value of the de- mand notes now issued from a point below their par value toa premium, Insstmmuch ag those notes are al- most the only ones that can be paid by importers for their duties at the Custom House, ae will probably advance to a value almost as high as that of the specio itaelf, The epee! tho six per cent notes must also be provi of the Treasury Note bill. A Toco eflet will be t0 re-éstablish the confidence of the people in the oy, of the government to meet and overcome all its financial embarrassments promptly. All that is now required to give a permanont value to all the iseues of the ury it is the prompt of the different tax bills now in progress in the s sional committees. ‘The pi ro of this bill A Logk waa an effect on the valne of gold. It hag would give an immediate impetus to the rise im Of specie, on account of the certainty of an immediate issue of [red Tog d the piace the bank notes and specie eretofore used by people of this country. The effect, however, on gold 1 not, in all prebability, be to Faire its value very much, at least for the present; for the important amendment, adopted at the last moment, providing for the payment of duties in coin and in the domand notes already issued, renders theso latter almost as valuable as gold itself. Dy increasing the value of tho domand notes in this manner the effect is equivalent the introduction of gold, to the extent of their value, into general ciftatation. Thus, then, the stock of gold and its equivalent is increnred, and,’ as a consequence, the effect of the amendment will not be to greatly in: crease, at the present time, the valve of gold. When the act just parsed shall have boen placed in practical opera tion by the actual isto of the notes whoge emis. tobe reissued, | NEW YORK HERALD, FRIDAY, FEBRUARY 23, 1862. Be increased; bua wpe ehisk, face 8 increased; But we: think © past ‘by thas f ‘muposing the payment of on Contracted and to be @omtragted in @ prosecution of wm value of Urpetea gill bo sie expressod ‘ace, Or, in words, the Gold will not Developement of Union Sentiment in the Rebel States. The. Position of the Union and State Rights Parties. Interesting Correspondence Between Officers of the Rebel Army, What a North Carolina Paper Thinks of the Boanoke Victory. MOVEMENTS OF REBEL OFFICERS, &., &., &o. OUR BALTIMORE CORBESPONDENCE. Batrmors, Feb. 26, 1862. The Union Feeling at tne South—Its Extent and Prevalence— How it Can be Made Available in Bringing the Revoled States Back to Their Allegiance~The Abolilionists of the North the Only Obstacles in the Way of a Perfect Re union, dc. o The conditions under which the Union feeling at the South exists aro a matter of the groatost consequence, ‘The fact that there is sucha feeling existing is beyond dispute. But it is of the highest importance to ascertain where it exists, what is the extent of the foeling, and whether it can be mado available in bringing back into the Union any of the States which now compose the Southern confederacy. The facts of the case, #0 far as] have been able to collect them, after diligent research, are as follows:—Tho people of all the Southorn States are divided into two great classes, which, for the sake of dis- tinction, may be called Union men and State rights men. ‘The former are willing to lay down their arms and return to their allegiance only under certain conditions and ex- Press stipulations, The latter, undismayed by there- cent reverses, aro determined never to yield, but to fight until they are extorminated, or until thcir independence is achieved. The entire population of the States of South Carolina, Miasissippi, Louisiana, Florida, Toxas and Ala- bams belongs to this class, anda large majority of the people of Georgia, North Carolina, Arkansas and Virginia, east of the Alleghany Mountains. ‘pho Union feeling exists and Union men are found in large numbers at Richmond, at Manchester, at Norfoik, at Lynchburg, all along the Upper and Lower Potomac and along Chesapeake Bay, in many parts of Georgia and North Carolina, and in the north of Alabama. In Ten- nessee the Union men constitute nearly one-half of the population. There are two objections im the minds of the Southern Union men to laying down their arms and returning to the Union. The first is the belief on their part, amount- ig to absolute conviction, that the abolitionists and radical republicans have such control of the government that they will prevent them from tering the Union on a footing of perfect equality with other States, but ‘will impose upon them such disabilities as will practical- ly reduce them far below the degree of sovereign States, and make them mere Territories. Thoy say that if the principles of the compromise of 1850 had been faithfully observed by the North they never would have left tho Union, and that they would now gladly return to their allegiance if they could be assured that all national legisia- tion in regard to them should be based upon those princi- ples. They declare that it was a systematic and deter- mined disregard of those princi on the partof the republican party which the Southern States to secede, and that it is nothing but a want of confidence in the men whom they believe to be in power at Washing- ton now, namely, the abolitionists, led on by Sumner, Chandler and Lovejoy, that keeps the Southern States out of the Union. ‘Tho second objection which they entertain is this: That if they were to lay down their arms now, or rather give them up, and be received back into the on terms of nominal oquality with the other States, these abo- litionists and the radical republicans would at once inau- gurate a series of legislation aimed directly at the de- struction of the institutions of the South, and would not rest until tery bigrs abolished slavory at the South, so far as that could be done by logal enactments; that the abo- litionists would impose upon them one disability after another, until at last the burthens would become too grievous to be borno, and they would be forced to fly to arms again; that if a reunion did take place now it would be hollow and insincere, because the abolitionists radicat republicans ould never rest until they had eceded in repealing the ‘itive Slave law and in passi an act of Congress abolishing slavery in all the States where it now exists. If the Southern Union men could be convinced that these views of theirs are erroneous; that the abolition- ists in Congress are powerless for evil; that their intsitu- tions would be reapected, and that they would be left unmolested in the enjoyment of their own customs and modes of life, and if they could be assured that all na. tional legislation towards them would be based upon the principles of the compromise measures of 1850, more than half of the Southern States would lay down their arms t once and return to their aliegiance, ‘The Siate rights people at Richmond are Ng Gaon di- vided in sentiment in regard to the ability of the present Confederate administration and the wisdom of the defen- sive war policy of the goverament. Tho administration of Jeff. Davis has many warm partisans, who strenuously defend both. But thero isa large and rapidly growing party, embracing many men of talent and influence, who do not hesitate to denounce both in the most unmeasured terms. They declare and argue that the mon now at the head of the government are totally unit for that position, and that the defensive icy tofore pursued has brought the South to the brink of ruin. They insist that the latter at least shall be changed, and that armies be at once raised to carry the war into Pennsylvania and Ohio. NEWSPAPER ACCOUNTS. We subjoin a number of interesting items from lato Southern papers and from other sources. REBEL GUNBOATS. INTERESTING CORRESPONDENCE FROM CAPTAIN MAURY TO CAPTAIN LYNCH, OF THR REBEL NAVY. The subjoined letter was found in one of the rebel gun- boats captured at Flizabeth City, North Carolina, after \ofeat of the insurgents at Roanoke Island:— ‘Senora Service, Navy Department, Jan. 19, 1862. Dear Lrvc—In my judgment the greatest loss to us sinco the war occurred was yesterday, whon Mr. Taylor died. It is to him that we are mainly indebted for these new sinews to our Baval arm. Your own letter was apropos. It helped the cause along. I am very solici- tous that the enemy should not be aware as to tho extent of our preparations, for there is no necessity of letting contractors or any one else, except the few persons en- gagod with this armament as a whole, know the extent of it. More is already publicly known of it than I could int fear the keeping of it to ourselves is out of estion. Still, the best secrecy is oolerity end we drive ahead. Minor has the guns in hand; most of ines and boilers are provided for; and by the end week Thope to be ablo to say that in ninety days or less all the bulls will be ready for the machinery. I should bave said the last bull. Theso diMfouities being overcome, then the great one—that of providing ofcers and men for one hundred launchos— commences. Pray take the matter up, think over it,and let me have the benefit of your thoughts, jere is whore we are at present. P Sie ca 7 s ster puede sailors in the Stato, and a law has been ® bounty of fifty dollars to ail who will ship for the war; also a y Ped for the appointment of fifty lieutenants and masters dur- the war. The crow of each boat will bo about forty, all told. These, both officers and men, have to be trained and drilled. Indeod, it may bo said that the whole ferce , for most of the officers have to 3 StL, with pr encouragement and oa that, you will agree with me, is not an im- ry. Powe wait one bundred Neutenants to command these boats; where are they to come from? Judging from the way things look at present, we shall not be able to more than twenty from those now in the navy. ‘fe new law for fifty will, 1 suppose, give us, say thirty who wore in the old navy, and who, resigning before soces- sion coramenced, have not been admitted into the Con. fedorate navy. ‘Whore are the rest to come from? My own thoughts stiegest, as a source of supply, the educated oath of the land—young men of the best biood—be- ween the of eightoon and twenty-five, who have pride, ancestral renown and family reputation to on- courage them and to bo sustained. The choice lies be- twoen these and morchant captains, pilots and wator- men generally. Then there are wanting one hundred second tieuton- ants, to bo rated as such, or as masters or mates, Tho rating {s immaterial : thoy are to be second in command and are also toarm the guns, Some of these will come from the navy and some from those who resigned more than a year ago from the old navy. For the rest, as in the other case, | would draw upon tho blood of tho land, by “ blood” I setae ah 00 200 ante, oe . ; » whoee- ‘ te opto dare and to ev the “bivodatt p of the boats aro firoady in gtate Of forwardneas: a8 800n a8 they aro ha agg schooland training and practico shi Send these young aspirants of both 8 to, them for dri and tralnogs As more are |, Send ot the cleveres of these to help as drill masters; receive on board also the engincers and crew; havea receiving ship near, and draw from her rg hour or’ go, sunrise to sunset, a fresh set to be drilled and “put through” with all the motious—all of which is to be done under the eyes of regularly quali- fied officers of the service. _ Now, considering our moans and resources, that all the vessols aro steamers of the Sanne soodel, aad thas Way ato intended for bay and river navigation only, I th we cam manufacture a preity good sot of oflloers and fo nael ip Ooh fovertheless, my friend, we shall, in this, sive ssong our brother officers, 1 foar, ‘old notions and prof ES to contend with. What, make a man a tiou- it who has novor been at sea, and thon give him the command of « gunboat! Tt is to you, and such men.ag you aro, my friend, who Pea yee by ‘gupport an fugparacereat i histo: If you can ohalk out @ » Pray let me have it. But if no beter plan sug- geats itself, pray assiat me with your influence in gaining Countenance and support for this. The whole expe- dition ia to be subdivided into divisions of five or ten boatseach, under the general charge each of a roguiar navy officer; so that,as a rule, the boats will always uade, and the ‘‘blood” will always have their leaders to follow. It is to be roady for aca in one hun- dred and twenty days, I hope. Not only so, 1 want your assistance in another respect. I wiah you would point out to me such young mon as in your ent would make good lieutenants and mas- tors this fashion. I oan’t promise appointments myself, but I can bring their names at the proper time before those who can w appointments. Texpect my son John, your pet, here ina day or two. T shall propose to him to try a mastor’s place in one of these boats. He has been giving his attention to drill, naval gunnery, &c. If he fancies the idoa,I wish to offer him as a pledge of my faith in our ability to have this expedition trained drilled, all ready to putout nextspring—in June at any rate. John is a well be- haved aud regolute iad. Can you let him come to you for the sake of the school, the drill, and ¢: ‘tonoe, till some of the boats are launched? Bo candid, my friend, and fon seh rae hoge to one me era barra oe 5 any way. If you can givo him any rati yy which, in case of accident, he would be entitled to'bo considered asa priaouor of war,s80 much the better. At any rate, if you can té&ke himasa su merary, and work him up a8 a me ea im to do any and every thing—it will be the ‘very dandy.” Tho boat that is at present athe model for all is twonty-ono feet , and one hundred and twelve feet long, and six feet draft, with one hundred and sevyon- ty-one tons and an armament of a nine-inch gun forward and a thirty-two pounder aft. Iam protesting, with all my might, against such a large and such a feeble stern OThat was a clover littlo dash at the enemy off Newport News. How I wish old Neptune, or Mars, or some of them would present you with “chance and opportuni- ty.” T could ask ‘the gods” for no greater favor to you, my friend. Yours, M. F. MAURY. Commander Wa. F. Lynci, waters of North Carolina, N. B.—If you can find room for John, say what bod- 4ing, &0., in the way of outfit, he shall bring. He could be ready to join you about Ist February. REBEL SPIES AND THE MISSISSIPPI GUN- BOATS. following is a copy of the original letter from the tary of tho Navy, telling Mr. Brown to get formation about the Union Mississippi gunboats: — Nav Dsrartuent, Ricumonp. July 20, 1861. Lmvr. Isaac N. Brown, Navy Conrsoxaars States, Mex- PRIS;— I desire to learn, as early as practicable, the cha- racter of the voasels which it is said the enemy is pre- i. hey Cincinnati. Reportaand rumors declare that Pe cls o seeoh toa ing built, and that ves- Sola are being thus altered; but the testimony of some reliable Feber py hg (opatikg doa servi yy employing # compo! man to pro. eae city and procure the desired information, to be communicated through fo to this department. A mechanic who could and would obtain means of accu- rately reporting the charactor of the vessels, whether steamers or not; and if steamers, whether propellers, their size and.earmament, and whether and to what ex- tent they are protected by iron; in what manner it ig secured, and its thickness. Such details as these, toge- ther with the number of vessels prepared at Cin- cinnati, or elsewhere on the Ohio, Ari or Missis- sippi rivers, aro im it. Perhaps a mechanic now them could afford this intormation. The de- ‘The rebel! some at work on partment will pay such compensation to your agent as as Saree, in this matter. ed Se pee fully, 8. R Secretary of the Confederate Navy. NORTH CAROLINA, ‘We have received a copy of the North Carolina Spirit of the Age of the 19th inst. From it we take several in, teresting items to illustrate their feelings and intentions as to the capture of Roanoke Island. Subjoined is a specimen of one of the leading editorials: — a KORTE CAROLINIANS, TO ARMS. w The e enemy teras was @ matter ‘but small i compared with his having possession of Roanoke Island. From this point as a basis of tions, he has control of the waters of Pamlico and Albe- marle Sounds, and consequently the fertile country ad- jaccnt thereto. Hecan attack, almost with impunity, ‘anywhere he pleases on those Sounds and on the rivers emptying their waters therein. Already one of our most beautiful and thrifty towns has had to be reduced to ashes by its owncitizens, to prevent ite falling into the hands of the ‘and being made use of for comfortable quarters. Before wo go to press we hear that a like or worse fate has befallen Edonton, th and other towns been sacked and burned by the base invader. Besides, it Is belleved a move into the interior will be made, 0 as to get possession of our railroads, and thus cut off all reinforcements from Portsmouth, tho Navy Yard and Norfolk, when the attack shall be made upon them. ‘The heartless, fiendish enemy, whom we have been regarding at a distance, is at our very doors. The lives of our wives and children, the safety of our homes and property are every day becoming more and more in im- ‘minent peril. Every man’s home and dearest interests areatastake. If the onemy be not confined to his lodg- ‘ment on our eastern shores, by manly and brave resist- ance to his advances in the interior, the middie tier of counties, the capital of the State, and ail the southeastern. and northern portions will be overrun by his vandal hordes. Nor is this all. The recent successes in Ken- tucky and Tennessee, and the landing of troopson the banks of Tennessee river es far up in the interior North Alabama, show us that even our mountain fast- nesses are not secure from his inroads. ‘There is no alternative left us—we must fight. The enemy must be met and conquered, or we are a subju- ted, ruined people. If it requires every man to leave fis farm, his workshop, his store, his office and his busi- ness of every description, we must cheerfully make the sacrifice. Let there be no flinching, no excusing of one's } self; butlet every one who can carry a gun and pull a trigger, forthwith set himself about securing tho best weapons he can find, and then rush forth to drive back the base invader. With such numbers, cour: and energy as this spirit will bring to bear in the contlict, we have no fears as to the result. We shall be victorious— the enemy will be driven from our soil—our homes and loved ones will be protected and saved, and our country prevented from falling into the bands of the merciless tyrant, who comes to visit w us murder, rapine, deso- lation, and all the enormities that have befallen other sections of our beloved South, where woman’s virtue, childish innocence and decrepid age have all been eacri- ficed to the luste and passions of our infuriated and devil- ish enemies. Shall we hesitato which of the two to choose? To arms then! to arms! Let there be no delay. ‘Tho same paper, in a long editorial commenting on the Roanoke defeat, says:—Tho depression felt by our peoplo on account of this sad reverse to our arms, is of course natural, but instead of producing despondency, must and will have the opposite effect. Every man in North Caro- lina capable of bearing arms should stand ready to avonge their brothers’ blood. Their 1e4 bodies cry aloud from North Carolina soil to be avenged. Nor will the cry be in vain. Our brave meu and true who have remained at home till now, will feel thas thoir country calis upon every man to do his duty, and they will rally with Alactity to resist the advancements of the onemy from his island Jodgment on our coast. They now have access to important points in the eastern portions of our Stato, and if not beaten back will soon be in the interior of our Stato. Itcan, it must be prevented by our powers and numbers. MOVEMENTS OF NORTH CAROLINA OFFICIAL! ‘The samowpaper statos:—Adjutant General Martin and staff loft this city on Friday last, in pursuance with an order from Governor Clark for Weldon and such points in the northeastorn counties of this State as he (Genoral M.) may think necessary, with instructions to call into ser- vice such portions of the militia as may be deemed coasary and can be used effectively, and make such dispo. sion of them as circumstances and the pyblic safety may suggest and require for the defence of he State, ‘THE ENLISTMENT OF NEW TROOPS. Exucurive Derantwxnt Norm Carouna, Abs't Gawarat’s Orrics, Rateron, Feb. 13, 1862. Five regiments of volunteers for the war are wanted to make up North Carolina’s quota of the army of tho Con- federate States, to whom a bounty of fifteen dollars per man will be paid Py the State, and fifty by the Con- per gery oe og Mg Meee Fi sapere’ to be raised with ag as Ny companies at present organizing immediately report to this office, Thoy will de received by ihe. or individuals, and when a full company is tendered four officers will be commissioned, With a loss number itments will be given as fol- lows:—A captain for ‘ty mon; first lieutenant for twenty-five; second lieutenant for fifteen. Peedi phony t ehone nt mp gh | and to be in readiness can still avail themselves of this opportunity of getti into the volunteer service, and the number so doing will be credited to their respective counties. By ordor of the Governor, dG. RTIN, Adjutant General, CRIMINAL NEGLECT OF REBEL OFFICTALS, The Norfolk Day Book says the fact cannot be conceal- od that criminal neg!! ce is char eo somewhere for the row of our brave and gallant mon ‘at Roanoke Isiand. It is also very severe on the Secre. tary of the Navy, who, it says, never visited the Navy Yard during tho ten montis of his official life. 1% also oy that fifty gunboats could have been construct- ed ani ned there to moet this fleet, but that not a singh has been built. It also says, truly, if the vui- nerablo points on our extended coast aro to be defended at all, lot thom be defended effectively, or at least with some reasonable regard to the overpowering forces which haye hitherto been concentrated against them, ‘To gar rison them with a force #0 inadequate as that which fought to the doath at Roanok to convert them into slaughter pens, atid criminaliy sacrifive the lives of our brave and devoted mon, Board of Counctimen. OF A REBEL FLag™ COMMON PMoourcts—omoveaiou on Tie. EAE Lave wo ‘1862—AMENDMENTS TO THE COMPTROLLER’S Bari- MATES, BTO. / ‘This board met last evening, Charles C. Pinckney, Raq.» President, in the chair, After the minutes of the previous mooting were read and confirmed, a communication was received from the Mayor, vetoing a resolution giving periniasion to erect a mewspaper stand adjoining Tompkins Market. His Honor gots forth sevoral cogent roasuns why the side- walks should not be encumbered. The following communication was then read:— Maron's Orvios, New Yoru, Feb. 27, 1862. To mx How. THz Common Counom:— Guxtimnex—It affords me great pleasure to transmit to you herewith an interesti trophy of the recent glo- tious victory at Fort Donel presented through dir. Bennett, of the Haratp, by Colonel Morgan L. Smith, Acting Brigadier General, to his native city of Now Yori, boing @ largo and handsomely made silk flag of the re- ae bearing the inscription, ‘Ladies’ gift to the cme Gideonites—may heayon crown you with victory."" oes It i9 ono of the standards of an unprovoked and most wicked revolt, not only against the constitution and laws ohpur country, but against the moral sentiment of the lized world. Notwithstanding tho doteatabio charac- ter of the cause symbolized by this flag, and the hesi- tancy of Congress on @ like presentation, I can se¢ no im- froorlety in our accepting the trophy, but, on the con- 'y; deem it ‘eminent roper that weishould do so. « T accordingly recommend that, on behalf of the Corpo- ration of New York, bonorable body wii! acespt tho aift ered, and direct its preservation in the Gover- nor’s Room or one of our city armories, or in some other Guitable repository, returning to the gallant donor appro- riate thanks for this manifestation of his filial remem. ‘of the olty of his birth. GEORGE OPDYKE, Mayor. On motion of Mr. Barwsy, it was rogolved to acknow- ledge the reception of the trophy from Col. Smith, A petition was sent in by the Judges: of tho Superior Court for the use of the Council Chamber to hold a special term ‘during the month of March, which was granted. A report of the Committee on National Affairs of both Boards advorse to reimburaing the Third regiment of ca- valry N.¥.S. M. and the Sixth regiment N.Y. 8. M; ‘also to appropriate $12,600 for new uniforms for the Twelfth regiment N. ¥.S. M. Tho committee suggest that, in consideration of the prompt manuor in which the above, as wellasall other regiments, responded to the call of the government, the Common Council should join in memorializing the Logisiature to reimburse tho peti- tioners for the losaes they have sustained during tho torm’of their enlistment. The report was laid over, A resolution was presented directing the Committee on Ordinances to prepare an ordinance against the storage of petroloum, or rook oil, in large quantities. The paper was referred. poration Counsel submitted an elaborato opinion resolution of inquiry in reference to the powor of the Common Council to impose taxes. Ho ro- ta his proviously expressed opinion that the Common Counell had not tho powor to impose taxes without the concurrence of the State Legislature. Tho special order, being the Comptrollor’s budget for 1962, was taken up item by item. The following are the alterations made in the Comp- trolier’sestimates:— Advertising for Common Council. $45,000 instead of 30,000 Belgian pavoment..............+ 25,000 do. 100,000 Central Park—Maintenance and do, 118,841 00. do. 10,000 do. 16,000 Printing do. 60,000 Public buildings, construction and eee eee scsce ses +495,000°00 do, 160,000 it soil, offal and 40. 33,600 50 do, 60,000 Balarice—Legislative department 65,350 do. 26,850 (The addition of $40,000 was for the salaries of the members of iain a wfomesa ibe, 43,108 00 do. 53,108 Salaries—Law mont e g Salaries—Fire 42,000 00 do. 39,000 Salaries—Unsafe building 14,200 00 do, 13,400 Water pipes and 60,000 00 do. 90,000 Wharves: 100,000 00 do. 175, Imne retenindor of the estimates were wpa, aad, the tax levy was completed at a late hour, and adopted as amended. ‘A resolution was adopted directing the Legislature to take steps to raise the necessary amounts by taxation. ‘The total amount of tho original estimates of the aggregate amount Mr, Sonne eee bapabe ipl tha ‘On motion of Mr. a ution was adopted t the Clerk be directed in making up the ordinance to set apart all the appropriations over which the Common Council have no control. ‘The Board then adjourned till Monday. Mecting of the Commissioners of Public Charities and Correction. * ‘The usual semi-monthly meeting of the Commissioners of Public Charities and Correction was held yesterday, ‘Simeon Draper, Esq., President, in the chair. From the report presented by a Committee of the Whole, it appears that from the 14th to the 27th of Febru_ ary inclusive 442 porsons have been} transferred from the city prisons to the workhouse on Blackwell's Island as vagrants and disorderly persons, of which number 118 ‘were males and 324 females. Mr. Devlin, the City Chamberlain, has offered to make arrangements by which the Broadway Bank shall deposit the sum of one hundred thousand dollars in the Mechanics’ Bank, for the use of the Commissioners, in antici] the Mechan! intereston Chae ven! which the ray Bank pl [obtained from tho Comptroller for the same No interest to be charged on the certificate. jon of the passage of the annual tax levy by the laturo, providing the President and Cashier of ‘ics’ Pank grant a certificate not to draw an; rs of tho a je thomselves to retain until the warrant amount. ‘A large number of communications were received from the superintendents, wardens and resident physicians of the different institutions, which were disposed of in the usual way. ‘The cash receipts from the 13th to the 27th of February inclusive’amounted to $481 27. From the woekly statement it appears that 1,685 per- sons were admitted to tho institutions during the week ending on the 15th inst. , and the number remaining there on that dato amounted to 7,993—a of thirty-two on the preceding week. Mr. Draper received a laughable petition in doy rel rhyme from one of the females, sent on the island for six months on @ charge of drunkenness, praying to be ro- Jeased, and promising to go andsin no more. The Com- missioners intend sending for her to see whether the magistrate will not prove lenient and shorten the term of bor imprisonment for the sake of her ingenious petition. Homicide on the High Seas, UNITED STATES CIRCUIT COURT. Before Hon. Judge Shipman. Fes. 27.—The United States vs. Nathan M. Millett.—The defendant is charged with the manslaughter of John Dil. jon, @ seaman on board the ship Saracen, of which Millet’ ‘was captain, by shooting him with a pistol. The ciream- stances were recently reported, when the investigation was before Commissioner J. B. The trial is still on. Mr. E. Delafeld Smith, United States District Attor- ney, for the government; Messrs, Wm. M. Evarte and Choate for the defence. Brig Demerara Ashore. Bostow, Feb. 27, 1862. Tho brig Demerara, from Remodios for Boston, is ashore on Tuckernuck Shoal. She remains tight Markets. PHILADELPHIA STOCK BOARD. Puntaveuema, Feb. 27, 1862. Stocks steady. Pennsylvania State 6's, 8334; Reading Railroad, 21%; Morris Canal, 40; Long Island’ Railroad, 1134; Pennsylvania Railroad, 45%. Sight exchange on New York at par a 1-10 por cent discount. Pmapevena, Feb. 27, 1862. Flour dull; superfine, $5 25 a $5 37%. Wheat firm; sales 7,000 busheia: red $1 33, white $1 87 a$1 42. Corn firrn; sales 8,000 bushels at 6534c. a 60. Mess pork un- changed. Whiskey dull at 26c, a 25% —————— FINANCIAL AND COMMERCIAL. Tavrspay, Feb. 27—6 P. M. The absence of news and the general feeling that events of no common magnitude are trans: piring imparted a sense of feverish uneasiness to business circles to-day, though public confidence in the government and in the success of our arms is stronger than ever. Money is quite active still. The new pre- mium on the demand notes has led to their withdrawal from circulation, and the banks arc again in @ quandary. Some of them are paying out their own notes, which they redeem in gold. Others are using Comnecticout and State money which is or was redeemed at par in this city. The sagacious bankers who a fow days since refused to receive deposits of government notes at any price are the butt of many jests. Call loans are quoted at 607 percent. The money market will be easy enough by and by, though for a day or two it is possible that the pinch may continue to be felt among the brokers. Foreign exchange is dull, with a downward ten- deney. It is doubtful whether first class bills could be sold better than 113, There is a general beliog that we shall have cotton bills in market before vory long. Another victory or two will satisfy the reasonable people at the South that the atruggle is hopeless. and they will decide that on the whole it is better to sell than to burn their cot- ton. 4 Hy West speak confidently of shipme cotton and tobacco from Tenneszec to and Cincinnati, in the course of the month of March, The stock market opened dull this morning, and Prices were disposed to decline, mainly im consequence of the prevailing want Of news. But in the afternoon healthier sprang up, and all the leading ive shares Were wanted at an advance. So far as we can gather, the volume of outside business is steadily increasing, and the brokers say that another vietory would overwhelm them with orders for | stocks. The doubta which were entertained with regard to the operation of the Treasury Note bill are being removed by events; gold is evidently | not going to rise to any extravagant premium, but, on the other hand, the large issues of gevern- | ment paper in the shape of United States notes, | certificates of indebtedness, and United States stocks, can hardly fail to cause sooner or later a vast inflation. Most of this paper will find its way into the banks, which will expand om it, using their own notesasa | circulation, and redeeming them, when required 80 to do, in United States notes, Of the probable effect of this process upon the stock market the recent advance of 10 to 20 per cent ip State stocks, bank stocks and first class railway bonds enablea every one to judge. Strange to say, though the earnings of nearly all the railroads are very much greater than they were at this timo last year, and there is every reason to believe that the advent of peace would cause a still further developement of their traffic, railroad stocks are not, as @ rule, much higher than they were a month ago, and not as high as they were in 1860 before the troubles broke out. Compar- ing the prices of this evening with those of yes- terday, we notc an advance of }4 inErie'preferred, % in Hudson River, 5% in Galena, and % in Rock Island, and a decline of 4 in Harlem, % in Read- ings 4 in Michigan Central, 1 in guaranteed, 1 in Panama, % in Illinois Central, and % in Burling- ton and Quincy. The most remarkable change of the day was in State stocks, which declined heavily, being freely pressed for sale by partica who were buyers at low. prices some dayr since. Virginias and North Carolinas both fell 4 per cent, Missouris 2, and Tenneg aees 2%. The advance in these State bonds as we stated at the time, was far too rapid ani extensive to be reliable. The market closei steady, the following being the last quotations:— United States 6's, registered, 1881, 9234 a 93; do. 6's, coupon, 1881, 9254 a 74; do. 5's, coupon, 1874, 85 a 24; Indiana 5’s, 76; Virginia 6's, 59 a 60; Tennessee 6's, 59% a 60; North. Carolina 6’s, 68 a 70; Missouri 6’s, 52% a %; Paoifio Mail, 9124 292; New York Central, 833 a %; Erie, 34% a %; do. preferred, 5834 a 69; ‘Hudson River, 35% a 3; Harlem, 11% 01234; do. preferred, 29 @ 30; Read- ing, 4334 @ 44; Michigan Central, 64 34; Michigan Southern and-Northern Indiana, 244% a guaranteed, 4724 48; Panama, 119 a 120; Illinoia Central, 634% a %; Galena and Chicago,685; a 2%; Cleveland and Toledo, 45% a 34; Chicago and Rock Island, 66% a 67; Chicago, Burlington and Quincy, 63% 4 6414; Milwaukee and Prairie du Chien, 20% ® 21; Cleveland, Columbus and Cincinnati, 109 a New York Central 7s, 1876, 104 a %, Erie third mortgage bonds, 96 a 97; Michigan Cen’ tral 8's, first mortgage, 1024 a 4; Illinois Central bonds, 7's, 94 2 95. We publish below a correct copyof the Tréa- sary Note act, as passed by both houses and signed by the President. It will be noticed that the Sub-Treasurer is not authorized to receive gold on deposit, but only United States notes. It will likewise be noticed that the new six pér cent bonds to be issued under this act will be redeemable at the pleasure of the United States after five years, This will prevent their rising to @ pfemium, and render them a less desirable security than the sixes now afloat, which cannot be redeemed for nineteen years to come. The old demand notes are to be absorbed at the custom houses, and new United States notes substituted for’ them. To-day they are held at {a % premium, while) gold is lower; 60 that we witness the extraordi- nary spectacle of paper rising to a premium, and gold falling, on the strength of the adoption b; government of the paper money system. Mr. Cisco announces that he will pay out the ne Treasury notes as fast as he gets them, me taking care that the aggregate issue of old new never exceeds $150,000,000. The following] is the act:— Ay Act to authorize the irsue of United States notes, and for the redemption or funding thereof, and for fund the floating debt of the United States. Be it enacted, dc., That the of the is hereby authorized to issue on the crodit of the United ttates one hundred and fifty millions of dol. lars of United States notes, not bearing interest — to bearor at the Treasury of Unit and of puch denominations as he ma; deem expedient, less than five doilas each ; provid however, that fifty millions of said notes shail be in lie of the domand Treasury notes authorized to be issued by the act of July 17,1861, which said, demand notes sb taken up as rapidly as practicable, and the no herein provided for substituted for them; and, provided further, that the amount of the two kinds of notes to gether shall at no time exceed the sum of one hundred and fifty million dollars,and such notes herein aut rized shall Le receivablo in payment of all taxes, internal duties, excises, debts, except duties on imports, and do: mands of every kind due to the United States duties on imports, aud of al) claims and demands. the United States of every kind whatscever, except fo interest upon bonds and notes, which shall be paid it] coin, and shall also be lawful money and a logal tender | =Arey~ of all debis, public and private, within th ‘ited States, except dutics on imports and interest aforeeaid; and any holders of said United States notes d positing any sum not less than fifty dollars or some m: plo of fifty dollars, with the Treasurer of the Unite Biates or either of tho Aesistant Treasurers, sh receive in éxchange therefor duplicate certificates o deposit, oneof which may be transmitted to the Sec of the Treasury, who shall thereupon issue to th holders an equal amount of bonds of United State: coupons or registered, as may by said holdors be desirec| bear! interest at tho rate of six per centum per ann payable semi annually, and redeemable at tho p! of the United States after five years, ber, le tweet years from the dato thoreof; and such United 8 notes shall be received the same as =e thelr pay vi ip payment for apy hi wad Graded by the may be re-issued from time to time, as the public interests may require. Sec. 2. And be & |, That to enable Seoretary of the Treasury to fund the treasury notes an| floating debt of the United States he is horeby authorize! to issue on the credit of (ho United States, coupon bond: or registered bouds, © an amount not exceeding $690 000,000, and redeemable at tho pleasuro of the Uni« States after five years and payable twouty yeas| from date, and bearing interest at the rate of si| per centum per annum, payable soml-annually And the bonds herein authorizea shall be of suc! denominations, not loss than $50, as may be d, tormined by the Seerctary of the Trea ury. And the Secretary of the Treasury may dit 4 such bonds at any time at the market 0 theres for the coin of United States, or for any of tt ‘Treasury notes that havo been, or may M be, issued under any former act of Congress, or for tl! United States notes that may be issued under the prov, sions of this act; and all stocks, bonds, and other secur, tios of the United States held’ by individuals, corpor tions, or associations within the United States. shall | exempt from taxation by of under State authority. . Seo, 3. And be it, enceted, That tho United State notes and the cou bonds authorized t this act shall be ‘as the Secretary of tt bear tho written / ‘Trensuror of the Unit} ta be jury, and also, © pr ‘a copy Department, which impeb direction of the Secor or bonds shall be recoiv: ‘and before they are issued; nN Il be signed by tho Treasurer the Troasuree by och perso, or such Treasury may direct, and res of or for the Register by su: the Treasury may speci the provisions tne? rine tho issue of treasury notes a] Doo. , 1857, #0 far as they can a inconsistent therewith H hereby revived and i $300, ‘jated, out of any money in the treasu ippropriated, to enable the Secretary: tho Troasury ny! into effect. Sec. 4. And be ut further enacted, That tho Soeretary: the Treasury may receive from any porson or persons,! any corporation, United Siates notes on deposit for 1 loss than thirty days, in sums of not less than one hy dred dollars, with any of the Assistant Troasurers ' Genignated dopositaries of the United tates authorir by the Secrotary of tho Treasury to feceive them, W ehall issue " therefor certificates of — dopor | made in such form a8 the Secretary of | ‘Troasury shall prescribe, and said cortifioates of depe shall boar intorost at the rate of five per centum per