The New York Herald Newspaper, November 24, 1862, Page 2

2 forced. Gangs of nogroes are it. Unis Occupation, usually w seer. My informant 1s not tion of any new railroad @ the short one between @ Dut several lives which had 7 oompicted. There are several therefore, constantly seen under @ white over- ‘construc where racicond irom is mans ured tsat , ie Georgia, another at Mout ry, 10 Alabama, a third at Kooxville. The first two have only been in operation during the last six aneuths, but they are all now (urwing out railroad trop ye tage quantities. My ia-, formant pointed out to me, on Appletoa's Railroad “ pads marked the ‘of construc: 45 10 progres completed and in operation. the whole of the roats, couPeCuag snow really of that map shows th covered with & network of r ail (he important poiuts. Dui iag the progress of the war te raiiroad companies Dave xoeacly incroased their rolling stock by the con- Struction ot many new locomotives aud cars. At th works of tho Mobile and Obie Railroad: the Fayetteville and Lexington Ratlroad, 14 North Carolina, at Alabama, and at est Railroad, a » I Georgia, wives avd cars are built which are now ~ oo most of the raiirosds of the South. machine shops at Macon, where my informant bud acquaintances, he spent twe days. and he gave mo & miuute account of cyerytbing there. ‘buch of tue ma- chinery in the sheps, he Was told, was made there; but some of the finer and more complicated machivery is of European mapufacturo. Tue locomotives winch they turn he describes as beautifully equa! to Northern made there there were three just ‘They were cailed respec- ard and Stonewall, railroad rolling Teosiving the finishing touch tively the General Lec, Beau! ‘There are also machi Stock is manufactures ‘These works ure k ploy meat io vast Teast those that are shill ant operation, and give om- of people are not sub- ject to the conscription, he military Authorities in some way that fe turned Out at these shops is designed dircetly to aid in the pra- Bec tiou of the war. © works far the inapuiacture of caunon, sheils, sol: non bails, shrapnel and elongated projectiles. Tous buildings are occupied for this purpose, and the whole is under the direction of an ordnance officer ap- pointed by the goverament. Smotn bore caunon are Filled bere, aad the works are kept in operatien by two Bets of men—one wo! im the day @nd the othor ‘atnight. The eannut and gun carriages are sent ews: to didoreus points as soom as manufactured. Inicresting Statement of a Texas Re- fugee. TRE IMPORTANCE OF THE CAPTURE OF SABINE PASS BY THE UNITED STATES STEAMER KENSINGTON — THK CONDITION OF AFFAIRS IN TEXAS, ETC. Nadine Pass, Jefferson county, Texas, is one of ihe mest important points in the South. It lies in the southeastern Coruer of the State, and, in conjunction with the lale the same name—twenty miles long and sight miles wide— §8 the outlet of two of the largest and most important Trivers of the State, the Natchez and Sabine. . The passage Of this lake into the Gulf of Mexico is cailed Sabine Pass, ‘The Sabine, Natchez and Angelino rivers, which con- ect with the Gulf through this Iake and pass, are navi- gable by Aatboats at a high stage of their waters for hun. devs of miles into the interivr—the Sabine for cight bundred miles and the Natchez and Angeline for five hundred. Ite advantages as an outlet from the interior over Galveston can beseen ata giance. Besides its Inke and the rivers run cleae along the western boundary af Louisiana. ‘This pass bas been, since the commencement of the re- Dellion, and more especially since the rigid enforcement of the blockade at larger ports of entry, used by the rebels fer running in contraband goods and munitions of ‘war to @ large extent, much larger than is known to the Public. Over two huudred tons cf powder clone have been smuggled it here, and small tus, guns and ammo. nition in large quantities. Mr. Kirkpatrick, tee narrator, had beon employed in Pexas as conductor and builder of tle Eastorn Texas Mailrosd, which was just commenced when the rebellion broke ont. This road was being Duilt by the State guvernment. When the re bellion cume on they refused to pay him, ex- copi upon thei own terms. He received their ob. higations, which he afierwards cenvorted iato mercban- disc, with which he loaded & schooner, He got a pass from the military authorities, which was afterwards re- voked by the Provost Marshal. The goods were disposed of at a sucrifice, and the rovels used them. Being deter- mined . get away from the rebels at all hazards, he was noi to be foiled by the failure of his first attempt;jso ke joaded the schooner with cotton, gave the requ: papers when be was allowed to depart, not, however uatil after be was boarded by the troops at tne fort He was a short time aiter boarded by the Kensing!o , to whem be voluntarily surreudered his schooner aud cargo. He then imparted all the information he possess ed tothe commander of tue Keusinzton in reference to ‘things at the pass, and also to the commanders at the station, including Commodore Farragut ‘An expeditin was speedily organized, on his informa- tion, for the capture and destruction of this rebel ren- dezvous, Mr. K. and his sailing master acting as pilets. ‘his expedition, reaching the pass October 13, was sig ally successful. The gins—iour in number, of large calibre—were dismounted, and the buildimgs around the fort totally destroyed Afver some five or six days a small rebe! steamboat was @aptured in the Calcasies river, which flows through ‘another important pass vaiied the “Dan.” anothe: expedition «5 fitred eut, and preceeded up the iake about mine miles above the pass (oa large railroad bri ouly jand convection with the town-- guarded by some three bundred infactyy aod cavalry a8 tbe boats’ crews poared the bridge tue rebels made a charge, but were mot apd repulsed by a discharge of and shrapnel from the howitzers, and they retreated to irie or tail . The brxige was then My ed, preventing all intereourse ‘with the town by iand. [he next morning Captain Crock- NEW YORK HKEKALD, MONDAY, NOVEMBEK 24, 1862. rebel officials are as fond swindling their govern- | countable inacti of Gep. Halleck’s army around | there was when theStates seceded. Large amounts have ment as some of pom fims rit Morese, itefeetee | Sees, active of Gass Matec’ srmy erwene been sent abroad through vartous channels. Gold in the General of Texas, is accused of having taken cotton | im @ substantial manner, the raids of jan's aod | Now Oricans banks, which was hastity removed the day placed ta Bis hands to ‘gold for the purchase of cavairy, all to Ce He New feli into oup wan dandet m war for 4 putting: of the coufoderacy bri iga marked | Vi rg from eamer Star fost, and its | it tate of wo bu; 5 , and renewed “Were put forth to bri the Accurate inf pois Ca retura, per ‘of the gress placed out its full strength. Pesult is that ¢he Soul bad fall of the © 2 is their in and army 3! » ond | bas ap army of half a seldiers tm the fold, who lion was shipped to Mobile, ‘thence Pocket ‘the batance, while the poor go half | are not to be despised their elothes are not as . Ga., where it was supposed to rest afew months, ‘clothed. This is only one of tho many | good as ours, or who are iaferior to oar trovps in disci- | 40. The bullion ig held subject to the order of ‘whieh the poor soldiers aro being fiiched iu the | plineand efficiency, Great dissatisfaction was felt at the | the rebel Secretary of the Treasury at Richmond | Traffic | ne cperatives—at | of the engagements. He is regarded with suspicion by Y | Phe Bombardment of Vicksburg and Its | | | baing led out to execution General M. L. Smith, who Flour is now setti specs: foi cuctereed per !b., corn meal, $3 to $3 60 per bushel; coffee, $3 to | $8 60 per Ib.; toa, $10 to $12 por Ib., aud other tion ws of Mie te precereen. | mark made by Mr. Barksdale, of Mis-issippi, in the | baif yearly coupons attached to the cotten oan bouds 1a rebel Congress, Pending a debate somebody objected to | gold: ‘they had the gy'd on hand for that purpose: but Two bundred thousand beeves have beea seut fro Texas since the rebellion, and yet they are pleotiful, showing the natural adi of the soil of Texas to razing. Cattle are still Being sent froin the State te the | Eeteee army It is not known by what route 5 that the oa the western and northwestern borders were in « state of constant alarm for fear of renewed depredations by the Indians. committed 03 help- Camanches. 23 less women and chiidren the ‘The condition of this class of the Texan pulation must be tndigont and —_aeplorablo in the extreme, sons, husbands and brothers being far kway in the army. leaving the care of large famiiice and estates in the hands of the women alone. Mr. Kirkpatrick escaped from the hands of tho rebels on the 13th of August, 1862, after repeated attempts. He ia an urcompromising Union maa. He is bere to re- cover his veasel and her carge, which was taken as 4 prize by the Keusington when he jained his liberty. Tn ct tion of the service he readered in the break- ing up ot rebel ust at Sabine, he richiy deserves what he asks of the goverament. Sam Houston is an undoubted Union man. His son was forced into the Southern army, and wounded in oue all the rebel sympathizers. To illustrate the little respect ‘that is paid the “|iberator of Reged Texans, he had occasion one day to visit Sabine, andon entering the aining room of the botel found all dhe chairs at the table occupied by rebel officers, and pot even a waiter or. un oiticer showed him the common courtesy of endeavor- ing to provide him a plaee at the table. He left the room chagrined and mortified, toawait tue socend tabie. OBSERVATIONS OF A VICKSBURG JOURNALIST. Effects—Highly Entertaining Account of the Union 58: ment—The Currency Troubles—The Condition of the Rail- roads, the Newspaper Press, &c. We aro indebted to Mr. Frank Montgomery, late toca! editor of the Vicksburg Whig, who recently arrived in ‘St. Louis, for’ variety of information of interest from of the cotton States and from “the confederacy in gonoral. Mr. Montgomery is a native of Virginia, and until about four years ago resided in Louisiana. He then went to Vicksburg, and was there connected with the Daily Sun until its stoppage by the war. He was then connected with the Whyg—tho leading paper in tho state—which for a jong tame stoutly opposed secession, and insisted ‘pon the co-operation of Mississippi with the other Southern States. Mr. Montgomery is an experienced journalist, at, haying been present in Vicksburg through the inception and progress of the war, has énjoyed the very best opportunities for observing the character of the war and the men eagaged ia it. We may add that Mr. Montgomery is a refugee from Vicks- burg and had many perilous adventures in es- caping. He tried to get away when the several Doatioads of rebel prisoners were taken to Vicks- burg to be exchanged. The Union officers in command of the dag of truce boats deemed the attempt to escape a violation of the sacred character of a flag of truce. Mr. Montgomery was therefore remanded into the custody of the rebel qfiicers, and was by them thrown into jail, where he remaiued for some time in daily expectation of was in command of the defeaces of Vicksburg, released ini daaily on the solicitations of bis friends, aud he m_ mediately left the place forthe North. The accounts given below are as nearly as possible in Mr. Ment- gomery’s own language. AFFAIRS :¥ TUE SOUTH AT THE TMK OF THE FALL OF NEW ORLRANS. The whole South, and especially the cotton States, was io acondition verging en perfect despair at the time of the fall of New Orleans, close upon the heels of the loss of Forts Beury and Doneison, Nashville, Columbus and other important points. The navigation of the Mississippi was considered lost, and not a single gum was mounted auy where below Fort Pillow to resist the expected arri- val of the gunbeats. The arrival of all the steamboats from New Orleacs at Vicksburg was productive of the greatest corsterr.ation. Several of these beats—and among them the guboat Ivy, formerly known as the Wm. H. Webb— landed at the wharf boats, and were given up to public piliage, The furniture was carried ashore by the popu- yace, the carpets torn up, the crockery distributed to the peopie, and the boats drenched from stem to stern in tur- pentine, preparatory to burning. They were then ap. chered in the river, and one memorable night crowds assembled on the Vicksburg levoe to seo th. burn But With this boat | many prominent “citizens protested, and the boats were saved. The next day orders were received to build forti- fieations and hold Vicksburg at alt hazards. It appears that at thas time a eareful computatien bad been made of Uhe stock of provisions in the confederacy, and the con” clusion arrived at that unless supplied with beef cattle from Texas and from the Re river the armies in Virginia and the people throughout the cotten States would suffer im ly for food. The Vicksburg and er went to Broadway, about three miles, driving in their | Shrevepert Railroad was run to its full capacity in carry- Pickets to the cavalry barracks. He turned the howitzer upoa thom, and one round drove the rebels im every di- mg cattle, and beats despatched to bring down nota ing but beef trom the Red river country, in anticipation of the rection over the prairie in great confuswn. He then | arrival of the fleet from New Orleans, The battle of Sbi- proceeded and compicted the destruction of the place, which had been but partial before. The Unionists cid not lose a man. Joh oceurred eseage after, janet oe | in the South ag a great rebel victory. y this reported suc- cess, a determipation was formed to hotd Vicksburg if In this expedition there were eight schooners and one | possible. ‘Sieamer captured, and seven schoupers apd ight steam. ors blockaded in ibe pass, which must eventually fall into our handsor be destroyed, as another expedition was be! 4% ready t clean out the nest when Mr. K. | people, when oo if fed from 1 THe POunAl OF VICKSBURG AND ITS RESULTS. ‘The eleven wi bombardment of Vicksburg, though A terrible affair, was meagre in results to our forces. The they heard the fleet had passed Natchez, he towntin confusion Houses were deserted Besides this, two thousand bales ef cotton feil into the See eee oe mt ruinous pricen to bands of the Unionists. The guns and ammunhwwoo left by Waiker ia Houdures were brought into this place, and are now beiug used to promote a great rebellion by the fre. eating ‘Vessels drawing fourteea feet can come safely pass. It has no doubt been secrotly used by the rebels co the initiation of the rebeilion, aud deen colportenr cf the American Tract Society, doubtless, or of the American Bible Society, was seized by one of these fragmentary the trumped up charge of baving sold the «‘Hleiper Book’? in the course of hig labors. The teur denied the charge stoutly, professing bis will- to suffer the moet condign puninshment tikt could be indicted uyon him by any proper tribunal fm the State if no had thos iuiringed its laws. After submitting to the mockery of a bearing by this self-cou haul away furniture apd The neighbor; planters oid'a dae busioess, ia thelr extfa teams te work for the tying mhantants of thecity. Many samilies secured houses a few miles from town; others the fate went to Jackson, Ofty wiles distant; but a in @ fow days, and then 1 ents for camping out, under belief sufertg, as the camp arrangements were very inferior , 1 Mavy cases consisting only of common carpets sus- ‘oD poler to keep off the sun by day.ana thedews ftoor, Rnocking failing flat upop the ruims. The shells which exploded were few in number, compared to those which did nut ex- node. t was notiesd thas the sheila from the upper lo. tilta exploded more frequeutly than those from below. The genera! course, when a shell did explode, was cal- eulated \¢ render it comparatively harmless. The hissing monsters broke through roofs and floors as easily as if the latter were made of brown paper, and buried them. | keteee in cellars and several feot underground. 1he stituted tribunal,a la Judge Lynch, the Golporteur was | mass of ‘earth thrown ap by the explosion neutralized the hung neck toa tree, faggots of fatty pine being ray see Doan ite base and guted, where the horrid proved) impated to him by these regulators of mo with , eapction of ‘Jed, Davis, ur Texas. Mr K- ‘a pumber of citizens of Texas who cau truth of this statement, from San Francisce, who started for ‘Washington, was shipwrecked at Honduras He shipped ip & gchooner that was running to Orange Inlet Texas Out of means, be went to work to obtain them , vo enable him t pursue bis journey 10 bie point of destination. While at Orange he received an oid letter from the Postmaster of Wasbington, orders be bad previously sent to « HA otters forwarded © bim at Orange. postmester . The ‘at Urange, af intense rebel, circulated the repurt that be was in h mo! oneness with the Yaukees. A provincial its fell fory, was soon aroused. The the man apd placed Lim in jail, ‘was puon taken by the mob, ‘arred and feathered, and ordered to leave the town ip tea hours. He left within the time. ‘The leaders of the mob held a consultatien, wed the fact was tnoeted that he was a dangerove custo- mer, audone who would Jefend bimevif at all odds if altacked, or revenge himself if unmolested Six men, heavily armed, mounted fleet horses and (cllowed bim. ‘They overtook him tive miles from Orange, ani speedily overpowered him They put a rope around his neck apd tied him to a troe, his feet just touching the g. ound, stripped the clothes from hie vack, soa then to sourge him with withes up 1 be was dead. When be was found, some duys alterwards, his body was in gashes and reeking with gore (rom Load to joot. It t* the opinion of Mr. K that Texas bas furnished more men in proportion to her population than awy oi the other Southern States, she ha- aireade furnished 60,00 men to the Southers army in addition t the forces huw oppressing the remnant of | The greater portion her m pope lation of the men bow ning in her borders are either superanunated secee (sor Union men, who by the shrewdest zu ve mansgod to elnde the conscription ac ‘ort ing to theur the vengeanoe of Texan partisan» A aking up arms against rem wir Old government n ‘ eo. persecuied res * of Texos have flea fr febsl Franny into Mexico over the Rio Grande at M } torot. There are some three or four bundred pow @waitivg an opportunity go into Mexico, What acom meotary on the rebeiliou inerican ecftizens fleeing age benighied ant cowntreddew Mexico @\‘ the first conscription the wealthy im Texas generally caped. At the last conscription this class were drasted ©r eouncrited remorsciessly. The rebellion ia Texas is Ov (tH Mast fogs ot Uhi* Moet, aud Hothing can prevent Te being again in the Union but decided euiccessor of Qher arme in other quarters. Yeo Mr, Ks Statements {hb woull appear that according } Porter's © have | rebels. which be York. This sboll buried itee destructive power of the bombs materially. After the bombardment was abandoned the citizens did a foe bus) ifiee on this altar cf rebellion expiated the charce | mess collecting the noo-exploded shelis, and removing the powder from them. Several bundred pounds were 80 reckimed, and it was worth $20 per pound to tho owners. The day Commodore Farragut’s feet first opeved the excitement was very great, and it was inten- sified by the report tbat three me had bees Killed 10 «oe of the Lower batteries. This was quite disheartening to a majority, and at that time five buodred solders could have taken the city. Unleckily for us pe more meu were killed for several days, und the rebels’ eontidence was reviv he distance to which some of the sheih from mortar fleet were thrown was amazing to the Une day « soldier reclining under a tree in the cemetery , about three miles trom the city, was killed by the of a tree knocked down by a passing shell. The er supposed bimseif as {reo from all danger 8 a wan would be at Albany pending a bombardment of New quarter of a mile be- yond, and must have pertormed a circuit of at teast five and 8 balf miles. Many Louses were slignuly inured by ‘the bombardment by the loss of chimney tops, porcbes, roofs, sides, kc. Hardly a dozea sound panes of glass remaived =D Vicksburg on the withdrawal of our fleet. So far a6 known poblicly in the only three persons were killed during tue whole time. The most fail oo proceeced (rom the night bombardments. 4 vere casualties were circulated, and 4 seemed as if all the demons of Hell were let loose upon the town. No body admired the pyretechnics, and the day after the first night bombardmen ition to surrender wan discussed. This fact isa bint to maval commanders on yo Messier ppt. ae = ewe POINT IN THE HOPES OF THE SOUTHERNERS. Mr. Montgomery remarks, that while Vieksbarg was suffering tyrdom the condition of affairs throughout the confederacy seemed to improve. Thousands of arti- cles began to arrive from Memphis, baving been emug- gied through our lines by rebel sympathizers. The des- pair (elt for the losees befure enumerated and the addi fonal gloota caused by the destruction of the Merrirac, evacuation of Fort Pillow, Corinth, Norfolk, York the Union gains in North Carolina and at Fort Pu- n to disap a Draid up the Shenandoah vi ey, and in the re- of a. brilliant victory at Fair Oaks, ov the ininy, The successful driving away of | ‘s from Richmond gave renewed —cour- | age everywhere. The rigid enforcement of the copseriptjon get enlarged the Southern army beyond tho capac iy of the South to support, The mon were foisted upon the States, and gatl in camps of instruction and left to be Supported by the State governments. A fi Foglish steamers rao the blockade at Cbarieston and at ints on the Seuthern coast, bringing to the cercobreey & much needed ‘supply of ‘arma. "Ton cane: time because the twelve mouths meu were iay into the three yoars service; but every cousideration of | man who would offer to pay the nominal promium om fois exrt given way to the resolution to spare nothing to | go!d—amounting tu nearly 200 per cent—would be regard- Yankees. Perhaps the best of this feeling was developed ilustra- ja a te ® certain proposal, on the ground of its conflict with the of the Confederate States. Xaid Mr. Barks- dale, ‘Gentlemen may talk as much as (hey please about the inviolability of the constitution. That is very pretty talk in times of peace; but now we must sacrifice consti tutions, law, justice, ‘personal and, if ueceasary, salvation itecif, to drive of the Yankees. When that is dono we can settle the questions about the constitution | part of the South is oneet the am among ourselves.’* ‘This language is common f: the cotton States, aud the People of the loyal States must rub the scales from their eyes, aud understand at once that the peuple of the South are united as one man in the most tion to establish their independency. They aro in earnest, ‘and would sacrifice anything and overythiug to achieve that result, They are working earnestly in the cause, ‘and never felt more confident than oa October, when Mr. Montgomery left Vicksburg. ‘TUK BTATUS AND YEKLINGS OF TUK UNION MEN OF TEE SOUTH. Army officers, paroled prisoners and cther superficial | ple; but when the winter began to rush patients npon observers are very far from the truth in aupposing there are no bona fide Union men in the South. "Foes. abound oun determias- | of quiuino is. worth swice he third day of | Mom in geld is consid-red a heinous offeace in the Swuth. Tho edness ens, ts shown the expe prence of the tebel eo a SCTE tes ares nobody presutaed to ask ft, and much Ices require it. the war draws to @ cloge there will bea groatei infla- of prices than at present, inasmuch asevery body | if pe expects to invest in something substantial and tangible, 80 as to be on tho safe side when the grand smash occurs. HOSPITAL QUPPLIES AND MEBOMES IX THE CONFEDRKACT. The scarcity of medicines and hospital supplies in every. t trying circumstances which the rebels are @ew suffering. To say nothing of tbe condition of the women and children South, the treatment of sick and wounded soldi: Peatricted to the most common attontions, and a grain its weight in gold. Morphine, and other’ articles of tho same value in medical treatinent, aro not obtainable in any quantity. ‘he quantities recently carried jis have been sold to the goverament, as overy- thing eiso of prime necessity is similarly disposed of. At first the hospitals provided for tho i their hands too fast. the sufferers wore quartered in fami- | lies. Vicksburg was full of sick soldiers from the camps evorywhers, but are chary .of their confidences and | at Ceriuth. Jackson, Mississippi; Mobile, Grenada and are necessarily compelied to be very discreet in their ac- tious. The system of terror which was practised in the | formsef the sick svldiors, othor available places wore likewise filled with the gaunt Private houses were seized ‘South in the inception of the rebellion is working out its | without ceremony, and often without giving the occu. legitimate results, Men were from town to town, and their conversation and acts regarded with suspicion by the fire-eating hounds. Letters wére taken from the post offices and examined. To receive a letter Cn ‘Union sentiments was quite as bad’as to write one, @ suspicion of secret correspondence was nearly equiva- | and those famil Jent to tar and feathers. Tho same way in conversation: | about thirty-three per. if @ man did not ewear by Jeff. Davis and the Charleston prenecs ho was cursed. Any medulation of language was Us ing nothing. Under these circumstances the Union senti- ment did not flourish very luxuriantly. Men suspected their best friends, and the r Marat in France never produced more individual risks than the spy system in the South. Yet Union sentiments were sometimes heard in families and in travelling. The question of slavery is everywher admitted in the South to have been the chief cause of the war, and the nearest approach toa sentiment in favor of the Union now heard im the South is to hear statements occasionally that this war has done more to abolish slavery than all the abolitionists of the North could have accomplished in a century. This talk cannot be indulged in promtscuously, but is rt , heard among inti: mate acquaintances. There is little doubt that the Union men of tho Seuth, as a class, desire to see slaveryvestrict- od in some way. Gradual emancipation is their expecta- tiou. any sudden alteration in the status of the Solthern Be ‘be ruined and the masters rendered helpless. This idea Presupposes the suppression of the rebellion. The dam. Baeble doctrine of States rights and State sovereigaty, which, excepting for the war, would disrupt the Union be: tween ‘the seceded States in a few months, is now unpopy- lar with a majority of the Union men of the South. The witb commonly expressed is for a strong government, with aceutral power capable of jing its decrees, with a standing army ‘f necessary States to the Union as it was before. secession roared. its head in the South. Nobedy looks for the Union as it was, and those who in their hearts oppose the rebellion do not wish for it. FRERDON OV THE PRESS 4 MYTH. ‘The leaders of the rebellion, who are looking forward to an exclusively aristocratic form of government, »n which the rabble is to be left out, are very jealous of the Southern newspapers favoring tho present democratic mode of conducting elections. Ono of the very first mea- surestafter the rebellion broke out was to crush out all real freedom of the press in the South. A practica! ifus- tration of this is mentioned by our informant. He was invormed by Jadge Perkins, a member of the Provisional Congress of the Confederate States, that one of the most. diflicult questions before that body related to the course necessary to be taken toward the New Orleans True Delta, which was cupposed to lean toward the Union ia its sym pathies and feelings. The Deka was not touched; but its conductors saw {it to advocate rebellion and treason more acceptably than before its suppression was agitated. The press, however, is a power in the South, and, rightly vsed, could bave prevented secession. Its power is shown by the outery against Van Dorn’s proclamation proclaiming martial jaw to be the will of tbe general commanding, | and prohibiting all criticism on battles or the conduct of | the officers or the movements of troops. ‘The Vicksburg, Mobile, Jackson, Atlanta, Macos, Charlestou and Savao- nab papers denounced this order as 2 usurpution, and it was quickly modified by order of Jeff. Davis himself. There are no papers in the South which dare to breathe @ syllable against the government. The Mobile Adverti- ser, the Charleston Mercury, Richmond Ezaminer and a few others occasiovally assail Jeff. Davis and the mea- sures of the administration; but they are forced to quality these criticisins by profes: ing a beliet that the fault lies with subordinates, and calling for greater energy in prosecuting .the war. These papers occupy the same pesition im the South as the ‘Forward to Rich- mond” radical journals do in the North. They are not less loyai to the South than others, but are the rallying points for all opponents of Jeff. Davis, whether they aro opposed to him personally or opposed to the rebellion he has attemptcd to manage. Another inatance-of the de- sire to crush the press ig furnished by the action f the Confederate Congress in providing for ing everybody around n-wspaper otfices for thearmy. Such a faw, if enforced, would have shut up nearly every office in the South, but it was quietly ignored, and at the secoud ses- sion the pressure from the newspaper men was so groat ‘that the obnoxious provisions were repealed, and edite's, reporters, foremep apd one compositor and pressman in each daily aud weekly paper exempted from the Conscrip- tion bill. in all the large towns of thecomfederacy. They have a large cir- culation, and receive good prices ivr iheir sheets. The ecarcity of renders concerns. Alabama and great streak of luck about the time of the fallof New Orleaps. The proprietors cf the New Orleans journals, by combining their capital, had hey = upabout all the 0d@ ote of paper in the South, and bargained for all that certain paper mille in Georgia could manufacture for a etatea period. Several thousand reams of paper were feund in railroad carg ami at varioun depots in Alabama, Georgia and Mississippi, cn route to New Orleans, when the latter ‘was captured by our ‘The too f a drug in the hands of planters, and cannot be used fer clothing, because there are no cotton noms. Wool carding machines are out question, aad the ‘wool sould not be carded by ‘ibe ( provisions for the army is a constant prices fail to bring more than a few ». Wheat is. a faiture, and cern partially Uheougbout all the cotsen States. The want of salt pre- venis the curing of bacon or beet. Goki will not buy food any more quickly than rebel currency. Indeed, Dread apd meat are considered as goo! as any lime, nnd the seareity is becoming desperately alarm- ing. Whiskey--which iB necessary Wo the existence of some mes i Seusbh—is sold for $52 per gailoo in Vicksburg; Mfown soap for $4 per pound, rye cotlee 35 per pound, aud tallew candles 30 ceois each. To-show to what straits the Southerners are reduced for the peces- saries of life, it may be sated that old rags dipped in fat and wound arouod caudles are used to prolong the burn- ing of the dip. Candles cannot be made without moulds na saleratus aud other y their manufacture, and these the South dees not generally poseess. As before stated, the suppiies of beef cattle from Texas and west of the Mississippi river have ted, and men actually hounded down lor say- | Wilmington would extend to ‘would be disastrous to society. The servant would | OPeuing of the Mississippi river. Each indi da return of the seceded | earnest | Knoxville Xegister, in a late issue. pants over ono hour’s notico in advance vf actual occupancy. But this system did not work well. Tho soldiers on being cured were too much scattored from could not be easily collected opinion, as expressed by doctors in the South, is that reckoned their regiments, and together. The with the subj unt fears were expressed that the yollow r cities, particularly to Charleston and Savannah. ies against con- can be had anywhere, and such a visita- Robespierre and | tiou would swoop the country like a destroying angel, NEWSPAPER ACCOUNTS. The Mississippi and the Northw.s.. From the Grenada (Miss.) Appeal, Nov. 14.) A Nosthera journal speaks in very sanguine terms of ere ten i rit It persis ee open river. zea the t ance of this work 2 Q great dcty of the Northwestern ‘States. Goneral Motiernand, it says, ‘‘is a Western man, fully grasping the greatness of the Mississippi valley, sympathizing thoroughly with the anxiety of tho popuia- tions of Indiana, Tilivois, Missouri aud lowat for the re- vidual mem- bor of the expedition will feol a personal interest in its success, because, to 2 certain extent, on See. pros- perity of every one of them will be found dependent on Oe ince a ates ee river.” is expediti at this time brought conspicuous’; before the Northwestern States to countervail the arguments of General Brage’s ion, and to quiet the discontents which have begun to find their and significant utterance. It characterizes it as the most * philosophic’ expedition that has yet been set on foot. In one sense the word is well chosen , for unless af political philesophy is at fault, the alliance between the Northwestern and the New England States cannot be much longer maintained, except vy con- tinuing to humbug ‘the formor with such delusive hopes as rest upon the success of any plan for restoring by arms the commercial use of the Mississippi to the States iying on its upper waters. That alliance is unnatural, imcon- gruosu and fatally prejudicial to the Northwestern States. In war or peace the policy that suits the New England States must always be that most unfavorable to those of the Northwest, The reasons ure well explained by the It bappons, as that journal says, that all the vast manufacturing establish- iments of the East were only required by the change in the condition of the country w change the mode rather than the extent and character of their employment and industry. The shoemaker of Lyno and North Dupvers to-day finds a greater demaad for the products of his skill than in timo of peace; the only change is in the lightness and fineucss of his manu- ‘factures. So, too, with the spinners and weavers, and blanket maxers, and with all artisans. The workshops of the North, of every conceivable description, have only changed the cirection of their labors; aud such is the destructiveness of armies that, without the trade of the South, the demand for the produets of New Fngland’s in- dustry is perhaps greater than at any former period in the history of the continent. We can therefore understand why it is that the-agricul- tural States evince symptoms of dissatistastion with the course of political eveuts, while New England, urged by a fanaticism and its profitableness. still cries out for blood, and stild demands the extinction of the South. The West begins to think of peace, while tho East, not satisfied with all the bloodshed of the past, demands other victims to be sacrificed on the altar of selfishness, and to satisty an in- satiate love of power and gold. New England is enriched while the Northwest is impoverished by the war.t ‘The agricultural exports from New England are undi- minished by the pending hostilities. Weathersfield ships a3 many Onions as when peace smiled and wielded her ‘sceptre over the land. Local armies in New Knglandide- mand all the surplus agricultural products. Ironmongers must build-sbips and locomotives, and create all the wea- pons of war. In truth, Now 4, in her industrial Pursuits and condition, would be ited by the indef- nite protraction of pending hostilities. How different the condition of the Northwestern States! Thess have no new demand for their agricultural pro- ducts. The great market which their resources supplied. bas becn closed. The Mississippi river is as truly a. mare clousum as when we held Columbus, Island No. 10 and New Orleans. The railways which connect the West with the Atlantic coast belong to Eastern capitalists, and products of Indsaua and [Hinois corn, Dacon aro not worth the cost of transportation. The lost the Southern market, has no excess of which there is sale, and the people are in perabundance of the prime ne- cesearies of life. Under these circumstences we are not surprised that the West is now clamorous for the destruction of Vicks- burg. The St. Louis Republican would have its readers beliewe that if Vicksburg were razed to the ground and ourgtroops expelled then trade with New Orleans would revive and the euffering Northwest be relieved. ‘e bave known from the beginzing that it signified to the Northwest whether Vicksburg was cap- tured or not. It is onty valuable tous by furnishing an route to Texas and A. ._ Its possession oy the litionists will wot affect the commercial condition of . Even then vothing but gunboats: can navigate the -‘great inland sea.” Until Linooin can line beth shores of the Mississippi, frem Cairo to New Or- Jeans, with armed men, no trading veesel can-navigate its Lers.: ve the Northiest Ud be sattofet of nd ley tently of fuer pateiption in v The democrats struggle for mur 8: . or the West ‘tell up that they for the Union, but with them, this signifies votbing more than free trade on the M ie9 Ro withNew further than New ieepalae wor ia pee the great river to the commerce of the West. by the press of St. Louis Such are the derayed r Sueh the deriarations of West-rn and soldiers who hawe been held as prisoners wn the bgp de con Re a Fentlensan proposed vo the Confede- rate dutherities te ge to the Northwest, and quietly and Ubrough the press w urge the mecessity of an alliance eee ‘whe lower valley of the, pv. the federal government with the bravest and in the ranks of the Northern armies. Of late this subjet has again attracted attention, and if w+ are net ill-informed, our sare nmeit has been induced to gine it serious attention. We are pot advised that direct negotiations with North- | western men have been opened; bat in the Nerth.and at |, ready felt and acknowledged. The | South has only in & revolution which will not | 1 end until the whole great imperia! valiey of the Missie- ‘sipp | is forever freed frem the soci polition) influ ence of ew England Puritanism. i Genera) Sion Command. From the Grenada (Sies.) Appeal, Nov. 14.| ‘The of South Caroliaa and Georgts and that part of been of immense importance to tho South. Since the siege | Florida west of the Apalachico’a river conetitute the de- of Vieksburg was raised (he Shi ‘t Railroad has been repaired, and i again \~cd to its full eapacky for earry- ing droves of cattle. ‘THE RAILROADS TN. THE FOUTR. The want of machine shops to replace rolling stock as fast as it is used up on the railroads is coming ree vice, and, with the rails removed from abandoned roads in ‘Tennessee, Kents and Virginia, the tracks of reads have beeo kept im fair order. railroads, with their preseat ritory for finding toole and materials ) Would stop riinwing trom vecessity, THE QUESTION OF CURRENCY Upon the subject of ourreucy on the conclusion of tne war there is very little diflereuce of opinion throughout the South. Wholesale and retail repudiation is predicted and anticipated. ped merchant, every company, every railroad ~ sod. broker and corporation plasters in profusion. These billie are redeema. pie in Confederate cotes. The latter are fundable in twenty year bonds, bearing The intention to repudiate is ope justified on the absurd theory that it is better to give up 100 per cent at once than pay 160 per cent in twenty yours and feel the weight of the debt dragging upon ibem in the meaptime. The cotton loan proposed by De Bow, and about whioh so much gasconade was ox bausted boy Southern papers. is now talked of as a bumbr he New Orleans banks wore the only vic tims. y did pay about $5,000,000 in goid into that fund, and were wi to nell out in sixty days after at half price. Concerning the amount of in the South, our informant thinks that it is considerabiy less than insuravee partment under General Beaurecard, CHABLESTON MAKIXG READY POR ATTACK. {From the Charleston Mercury, Nov. 8. fire in succeseign. The practice was by Bring the guns of Fort Sumter by battery, ‘The heavy and unusual Oring eviaentiy puzzled the The smaller vessels of the equadrop denly quitted their poses ‘and clustered sbip until long after the firing had fe learn that the Yapkces: Broad river. There Yau! shell lying; aronnd loose at Buckizgham hae from the frequency of the explosions in that REPORTED , We have @ report the Orange train jast night, to which we attach much credit, that a fight occurred on Monday Jast, near Berryville, in Clarke eH between @ portion of our forces under General A. I. Hill aud the enemy, in which the latter were reverely handiod and to retreat. From all we can gather of the reporied battle, the movemont ob the part of the enemy appears to have been undertaken in the belie( that the greater portion ef our te been withdrawn from the neighborhood of ‘Winchester, and they anticipated bat slight opposition in their flavk movernent upon that piace by way of Berry. ville. It is stated, however, that General Leo was pre- pared for them, and Hill's division repulsed them with Joss. It is stated that ru ht the evemy sent a of truce to Gonoral Hill, requesting permission to bury their dead and provide for their wounded, which General alee ot ‘This is taken as an evidence that their discomfiture was signal, and ali our information, Sealirm the male tact that the enemy were whipped y. the entire command. le Of their Scamp equipage, tents, ke., escaping w: several horses and wagons, tohisowacommani. ith bub ittle loss News from the Kanawha Valley. {From the Lynchburg Republican, Nov. ‘The Fincaatilo Express bas been informed by a gontle- man direct trom the Kanawha valley that our forces un- dor Gen. Echols bad fallen back to the falls, some distanco above Charleston. It scems from the statement of tho ogee Above referred to that this move of General ols was made upou the represeutations of a Yankee epy, who passed himself off as a {cderal officer. He came to the camp of Genora! Echols and gave himseif up as a prisoner, iuforming the Genera! that a foe force of the coming in his rear, by way of Nicholas Court cusc; and upon the representation of this party Gencrai Echols was induced ¢o fall back. It turns out that the person who gave himself up was a Yankce spy, sent, » to General Echols Cor the very purpose which he, unfortunately, succeeded in accomplishing. He had upon his person’ large quantity of counterfeit Confede- ae Ba voceoapeniod y was mato ie time A secure a8 we iearn be ig now in the hands of General Echols.” Vice President peepnenee Plan to Break the Blockade. (From the Mississippian. ] Vico President Stevens is stated 0 have remarked in a recent speech that a navy, sufticiently strong to open our ports tothe commerce of the world, might be bought with the sum which we are spending in one month of the war. It was thought to be quito possible ten or twelve swift and strong ironclad war steamers, built in dockyards, could at any time run into any port of the Confederate States, and bring us such articles Se eee anet f.aeNS back return cargoes of cotton, ‘Stevens proposes 40 execute the plan through the agency of catton. He thinks that English capitalists are keenly alive to the realization of present protits. ‘They are cager to furnish us ail our necessary supplies of arms, clothing, salt, &c., in exchange for our cotton—quite as ras we areto posers a cotton or anything cise for these sup- plies. The difficulty lies in the delivery of our cotton, ‘The blockade is the barrier between them and us. Our policy, as Mr. Stephens thinks, is and has been from the beginring to break it up ourselves, ‘To do this we must bave ships-of-war—iren-clad steamers —able to cope with my in the world, ir. Stephens suggests that these can be procured in Europe with our cotton, but not with our present cur- Bs that our goverument buy the cotton, 80 as to have control of it, and then pledge it to pay for the ships that are to be used in oponing at least one of our cotton ports, and, if necessary, in ‘conveying the ¢otton from us to Europe and our supplies from Europe to us. The inauguration of this policy by our govern- ment and its distinct declaration to foreign capital ists would, he thinks, at once inspire cnttlenoe on their part. They would accept a pledge of vur cotton because they would see that we were provid- ing the means to secure its delivery. There might be occasional captures of our cargoes by the eaomy, but there would be a commercial certainty that we could succeed jn desivering cetton in Europe, far more than enough to meet all our necessary contracts there. Our currency’, alzo, according to Mr. Stephens’ views, would acquire a'new Value, because it would serve the purpose @f buying cotton in Europo. Ver obligations, then, would bo convertible into cotton, which is just now more de- Sired there thas the precious metals, and would be pre- ferred to the rival gold of our enemy. Our cotton would thus be a commercial instrument to supply our wants from Europe, and a financial instrument to serve as the basis of our currency. Negroes Working onthe Fortifications. [From the Grenaua (Aliss.) Appeal, Nov. 14 } ‘Me Lyuchburg Hepublican states that the call of the Sesretary of War for forty-tive hundred negroes, to work on the fortitications about Richmond, is beiug promptly responded to, and the slaves forwarded to the scene of their labors,’ The Southside cars carry down a number duily, and the quota called for has nearly been filled. Forgeries in Richmond. {From the Grenada (Miss.) Appeal, Nov. 14.} ‘The Richmond papers mention the discovery of exten sive (orgeries on the State Treasury of Virginia. Blank warrants bad been stolen and tilled ap, to what number was net known, but fourteen thousand dollars had been drawnoa them. ‘Suspicion fellon E. Hunter Taliaferro, rst doorkeeper of the Senate. He has been arrested. The High Premium on Gold in Richmond. From the Richmond Whig. Nov. 4.) There were sales o gold to-day at $3 30, whichis a decline of 20 cents from the Irighest point. ‘extraor- dinary rate of premium recentiy paid for gold was chiefly owing to tbe scarcity of that commodity, and not to a correlative depreciation of the peper currency. Cvin has since ceased to be a ciieulating medium is the con- federacy, aud is only vuluable now a8 merchandise. The demand exceeds the supply, and hence the price for it has advanced, as the price for any other article aavances when therease more buyers than sellers, and the former are eager to purchase. At present rates $3 30 in cur- reucy will buy $1 im gold, and vice versa, which weuld mak Confederate ‘treasury: note for $5 worth equivalent, before the war, would vow expect $33,000, nor would he tow be willing te give Botes for any preperty which he could ha $5,000 in purchased three years go for $1,700. The bigh premium tor gold is occasioned mainly by the demand {rom “biokcade run- ners.”’ Ifthere were prospects ef peaeo, this demand would rapidly decline to res. The rumore trom abroad last week have already affected the market, and avythiog confirmatory of those plausible foresbadowings would weaken iv atstmore. Telegrams to the Smee (Miss.) Ape em. M'CLELLAN REMOVED FROM COMMAND, Rucusionp, Nov. 13, 1862. Northern dates to the 11tb have been received. eommand of the Army of the Potomac. The reason for this is stated. to be that McClellan refused to advance, and tbe Harper's Ferry commission having censured him in official repert, FROM MIDDLE TENNESSEE. Cuattanooca, Nov. 13, 1562. Genera! Ferrest bad a skirmish with the abclitionists om the Franklin terupike on Tuesday. He killed tweaty and wounded-between fifty and sixty. The evemy deing largely reinferced, Forress drew of by the read tola vergne. General E. Kirby Smith is quite indispesed in this city. VIRGINIA RUMORS. Mowiie, Nov. 14, 1862. A special tu the Adcertiser and Register,dated Caries. ton, November 13, says:— Important movemcnts of the army in Virginia are in Progress. It is confidently asserted. tbat active hostilities are now to de resumed, probablyncarer the city ci Rich- mond. ‘Where General Banks aor a (From the Grenada (Miss.) Appeal, Nov. 14.) THE TEXAS EXPEDITION. It seoms thee the prepased federal expedition (o Texas ja to be exclusively a Yankee enterprise. ‘The force is made from the New Englaod States; an@ will be commanded by a Yankee gencral— Banks. We observe that be has been spending some days in Boston, where he was-oloseted with the Governors of Massagbusetts, Connecticut, New Hampshire, Maine and Vermont, Yankee cunaing will be pitched ‘against ‘Texas daring. News from Texacd [Frem the Houston Telegraph, Nov. 5.) ‘There are still a few cases of yellow fever in Houston. It is aud bas been far from being epidemic. ‘The orders requiring permits for the exportation of cot. ton were revoked by Gen. Bee on the 28th nit. der bas been inted to the command ena: 4 Sateen eee fs Gen. ac appointment will meet with popular favor. We hope it may be for the advantage of the department. ‘The Governor left here quite unexpectedly om Friday, matters of moment requiring bis attention at Austin. We expect him back in a few days, and hope to seo the gene- val ery be ed department along with bim. eS Here ® calt from Cot, ©. ©. Herbert, 0 the second district, om Friday. We ‘sew him bot a moment, and bad 6 time t olicit any In. formation. Be appeared in his usual good bealth and chrerful spirite. ‘We are informed by travelers that the railroad fare from Shreveport to Vicksburg is as follews:—To Monroe, one hundred and ten miles, eighteen dollars ; Monroe to Taluila, by rail fifty-Gvo miles, eight dollars ; Taluila to Vickeburg, twenty-five miles by stage, seven to nine dol- lara, roads are said to be very good. Most of the travel i¢ soldiers on furlough. Prices leo rather ateep. LATBR FROM MATAGORDA. ‘We learn from Mr. A.S. Ruthvao, whe left Matagorda Friday merning, that tho federals bad not yet taken that bave taken three Mat. ‘da lighters « gun spon each. ‘On one of elighters there wer.) bales of cotton. There is no cotton now | da. epromn’s battalion the neighborhood. The federals have stolen some cattle from the + enin- Sule. Peonington, the hero of Sabine Pass, ia with thn He knows every inch of the Texas const. ‘The yellow fever still prevails in Matagorda. There were four deaths on Thursday night ‘The people of the town are moving thelr goods, furol- ture, &., to the cvuntry, as fast as they can, in fear of an attack. The town ts defenceless. {Fron the Gonzales Inquirer, Oot. 27. \ News reached here yeaterday morning that the sedorals had taken Indianola, aud that ove troops had retreat | Lavaca, We could get no particulars as to the strengih | of the ettomy, or there Intentions, but suprese their ob- ject is to ceaupy the whole const, 60 An to evforce the blockade more efiect meagre and imperfect as i, ie,tends to same conclu. sion. Detaiis and full particulars of the fight will proba. wiv bg received by to-nigut, which we cortain wit ually. ‘Wo learn that there bave been fourteen deaths from yel. low fover at aud oneve twe at Lay sngaged on heavy work (or the New England (rade, and on iow 5 bave as much as they can do with the labor they are to . The manfacturer shoes for the it 4 é 5 not, therefore, givo orders, while manufacturers decline for the future. It is evidont, 38s. ies Hi and shoos, suitable for the spring and summer must range higher than thoy have for many y\ Guwrnat MoOuxuian's Brerapay.—The third cember next, General McClellan's bi A a tho Young Mon’s Democratic burg bya bail. foe § iy ‘FINANCIAL AND COMMERCIAL. Sunvar, Nov, 23, 1868. ‘The foreign trade of the port of New York com- tinues to exhibit the same features. Our aggre- gate exports of produce, merchundise and are largely in excess of our total imports. week the total import foots up $3,250,038, against an aggregate export of $6,238,980, showing an ex- cess of exports of nearly three millions of dollars. From this must be deducted the amount of Ameri- can stocks sent. for sale, less the amount of stocks bought here for export to Europe. During the past week there is reason to believe that the amount of Iinois Central bought here for European account will balance the amount of other securt- ties sent here from Europe; so that the general commercial account will not vary much from, the result, as shown by the official Custom House figures. The trade balance, as reported in these tables, from the year to date, does not vary much from thirty millions of dollaus. The official tables of the foreign trade of the port for the wsek, and year to date, are as fol- lows: — Frifiontlabae laos ea, s2 10 4 General merchandise “1/006'237 1,208153 21171880" ‘Total for the week. $2,931,921 1,591,485 _ 3,250,088 Previousiy reported. 206,893,052 112/895 ,928 165, Siuce January 1.. .$209,824,973 114,487,413 119,213,188 Exrorts oF ae AND MERCHANDISE. rs 1862. For tho week $3,254,802 3,982,086 5,780,451 Previously reported. 84,880,068 114,569,702 181,548,406 Since January 1. ...$88,144,860 118,652,698 135 828/656 Exports oF Srecie. 1861. 1g¢2. For the woek........-+ $13,443 — 2,468,589 Previously reported... 44,974,380 6,405,225 62,600,002 Since January 1.... 844,987,823 6,405,225 65,059,338 The bank statement which was published last Monday showed a specie average of $39,348,947, being an increase of $554,179 from the previous statement; a loans average of $178,786,683, being anincrease of $2,086,168; and @ deposits average of $164,066,604, being a decrease of $1,893,059. The statement to be made public to-morrow will reflect the recent loan to government, and wilt consequently exhibit sume striking changes from the last. The deposits and specie will probably likewise show a considerable reduction, in conse- quence of the withdrawal of money for use in the West, and of the shipment of treasure to Europe, The gradual withdrawal of deposits from thie financial centre--which has been in progress for some three weeks--is a very suggestive feature of the financial situation. The thirteen millions of 7.30 notes awarded om the 17th have not yet been paid for. The fact illustrates the condition of financial affairs more clearly thao any verbal description could de. After these securities were, awarded the takers drew their checks on their banks for the amounts awarded tothem. These checks were presented at bank and certified: they were not paid, and could not be; for the banks nad net currency to pay them with. Mr. Cisco, to whom the presi- dents of the banks in question applied for relief, inquired if he could get city currency in default of government currency; but the banks hed neither the one nor the other. They could only pay im out ef town money—the motes of banks in Jersey or the interior of this State-—currency, in a word, which not only was not a legal tender, but was such as no merchant would have received as money im the ordinary course of business, an@ which the Sub-Treasurer would never have been justified in receiving and placing to the credit of the United States. Under the circumstances Mr. Cisco pursued the course which judicious creditors. usually pursae towards delinquent but honest and well meaning debtors. He held over the checks. Ae fast us the banks receive legal tender currea- cy they pay it in on account of their checks. Some of them have already paid in enough to relieve themselves fom a position of disgrace, Others aré stil) debtorsto the government, but will pre bably acquit the obligation this week. Had the Sab-Treasarer insisted on the payment of the checks he held, several of our leading banks would have been compelled to close their doors and ge into liquidation. In plain words, they could not meet their liabilities. They had ne- thing to. redeem their deposits but the curremt issues of banks which are comparatively unkzewn here, and whose notes have never been regarded an money in our market. The event proves-not enky the scarcity of legal tender carrency, but likewise the ir ye position of our banks. They comnot pay their deposits in specie or in legal tender money, ur even in their own currency. A large number of depositors are now anxious to use their money at the West and Southwest in the purchase and movement of produce. The banks can only give them cuedits-—not specie or currency. It ip evident that this state of things cannot last, and that the public interest will requine the adoption of some new policy by the banks.whieh shall se~ eure to depositors a greater degree of safety than they now enjoy. The money market was active last week, chiey in consequence of the payment of the awards o¢ 1.30 Treasury notes. Legal tender notes in large amounts are so scarce that they command an eighth of one per cent premiam. Yesterday after- noon there was rather more money offered on loan, and six was nearer the standard rate than sever. Large amounts of money are going to the West and Southwest for the movement of the crops of \eat, corn, pork, cottom and tobacco. Inthe West—in Missouri, Minos, Kentucky and Tennes~ see United States currency ie the only money which is popular; buyers of produce take it along in preference to any other kind of movey. Large amounts of legal tender currency are being boarded by farmers and merchants in the West, and until they become poor and are forced to dis- | gorge their hoards it must be expected that they will absorb and retain all the currency they re. ceive, to the obviots detriment of the ordinary | centres of financial bnsiness. Upwards of one | hundred millions of legal tender currency must be ; hoarded as the present moment,in Illinois, Missou- ri, Kentucky, Tennesgee and Iowa. Business pa- | per is very scarce im this city; first class names, on. | short paper, pass readily enough at 4% a 6 por } cont, and ordinary good names at@a 7. Govorn- NP OSE EES ie? ers