The New York Herald Newspaper, December 28, 1862, Page 4

Nn ST NEW HERALD. ~“~_{_—e—~_—-r rrr JaMEBS GURDON BENNETT, EDITOR AND PROPRIETOR. GPTWS MW. W. CORNER OF FULTON AND NASSAU STS. @ ‘TERMS camh im advance. money sont by mail will be et the risk of the sender. None but Bank bills current ia New York taken. THE DAILY HERALD, Tunas cents per copy. THE WEEKLY HERALD, every Saturday, at Frvz cents Any larger number, addreased to names of subscribers, Rapid Progress Towards Babariom. shooting, but pleads ill treatment in justification | We publish this morning a retaliatory pro- of the sot. A full report of the testimony taken | clamation issued by Jeff. Davis in reply to the before the Coroner is given elsewhere this morn- | angouncement of President Linooln that he in- ing. tends freeing all the slaves in the rebel States In the notice published yesterday of the return | by proclamation on the Ist of January next. of the ship carpenters to work in the Brooklyn This d t is le of this remarkable war about the inevitable thanks to officers of the yard, was inadvertently omitted. The resolutions in full will be found in | 2@8TO. It rehearsed all the European scandal our advertising columns to-day. against General Butler, and condemns him and Thurlow Weed says the Chicago Tribune, a Gar- | all the commissioned officers serving under him risonian abolition journal, has “Jess brains and | to be hung,a la Mumford, whenever they are more venom than ita namesake in New York.” captured. The non-commissioned officers and A despatch has been received in Wheeling, from | private soldiers under General Butler’s oom- G2 GO-oach. An extra copy will be sent to oggry club of © person who conversed with the President on the | mand are not to be bung, as they are “only in- ten. Twenty copies, to one address, one year, 995, and fay larger number at same price. An extra copy will be Bent to clubs of twenty, These rais make the WAEKLY (Elma the cheapest publication in the country. subject of the new State of West Virginia, and the used ission rimes,” opinion is given that the bill will receive Mr. Lin- anaes eee onary “a 4 coln’s sanction. and are “not free agents.” It alludes to the Charles 8. Benton, the demooratic candidate for emancipation proclamation which President Congress in the Sixth district of Wisconsin, was | Lincoln has in contemplation, and to the arm- ‘The Eonoraax Epimox, every Wodnesday, at Fivx cents | for four years a Representative in Congress from | ing of freed slaves by the negro-worshipping per copy; @& per annum to any part of Great Britain, | the old Herkimer district in this State. He was | generale, and in return for these measures pro- oF BS may: york in Comets: Woe Se Ne subsequently, for eight years, Clerk of the New | poses to hang, under the State laws Postage. ‘The Cauuromma Eoeriom, on the Ist, 11th and Zist of ‘only democratic State officer at Albany. York Oourt of Appeals, and for two years was the | gervile insurreotions, all slaves caught with arms in their hands and all commissioned offi- According to all accounts from the West, the | cers in command of negro troops. The rebel each month, at Srx cents péy copy, or @3 per annum. a, rebels are now threatening Memphis, Nashville, | preg heartily endorses the proclamation, and Apvrmen=mans, to a limited number, will be inserted Cairo, Columbus and New Madrid. gm the Waratr Hamat, and in the European and Cali- Wornia Editions. VOLUNTARY CORRESPONDENCE, containing import- fant sows, solicited from any quarter of the world; if ‘ased, will bo liberally paid for. ggr Ovum Fomman Con- RASPONDENTS ARE PARTIOULARLY REQUENEMD TO GRAL ALL LAT. Suma AND PACKAGES SEIT UB. : MO NOTICE taken of anonymous correspondence. We @ not return rejected communications, Volume XXVil.ccccsssccsssesseeee sees ++ MO, 360 =x AMUSEMENTS TO-MORROW EVENING. SIBLO’S GARDBN, Broatway.—F aust AND MARGUERITS. QWALLA0K'’S THEATRE, Broadway.—Invisists Hvs- eaINFRR GARDEN, Broodvay—Laxss or Erciamnar— BAUR KBENE'S THEATRE, Broadway.—Buoxverts, BOWERY 5 SEE SIYEE, SEE Sorry fe Same + BOWwBRY SORE Perey. —seene Rep Riou 4 0 GERMAN OPERA HOUSE, Broadway.—Misoxn axp BARBUM'S AMERICAN MUSEUM, Broadway.—Dars- ore be 40,, a6 alt hours, FE EE Oot ee Daxous, &0.—Favst { WOON INETREY MALL, G6 Becntwey. —<Remoeran 's BUCKLEY'S MINSTRELS, Palace of Music, Fourteenth BROADWAY MENAGERIE, Breadway.-Livina Wi.p PELRHAR CASED Gr Fg oe Bremer ~ QrERA HOUSE, Beckiya—Rraverian ‘Glow York, Sunday, December 28, 1962. THE SITUATION. ‘There is no news of the least importance from army on the Rappahannock to-day. Every- remains as before—quiet and undemon- ve. We publish to-day the official report of General . F. Meagher on the conduct of the Irish Brigade the battle of Fredericksburg, forwerded to the of his divison. In view of the gallant and part which the brigade took in that terrible , a8 well as throughout the whole campaign’ report of their brave young General will no be read with great interest. "The pirate Alabama has been distinguishing her. again. She is now on the track of our Cali 5 steamers, with an eye to their golden cargo. On the 7th inst. she came across the Ariel, bound from New York to Aspinwal, off the coast of Cubs, end brought her te by sending a sixty-eight pound phot through her foremast. Captain Semmes then ook off her captain, and held hima prisoner fo days, expressing his determination at the same to land the .passengers either at some point the island of Cuba or St. Domingo, and then destroy the vessel. At the earnest remon_ Perance of Captain Jones, in of the women children on board, » he consented to hor proceed, after taking off the valves of the and throwing hor sails overboard. The t started in pursuit of the Champion, then her return voyage to New York, but failed to ind hor. Captain Jones carried the Ariel safe — and arrived at this port yesterday , but brought no gold. With the fear of fhe Alabama before his eyes, he wisely left the treasure at Aspinwall. Jefferson Davis has issued s violent retaliatory to the emancipation proclamation of Mr. Lincoln, denouncing the course of General im New Orleans in vehoment terms, and him and all the officers in his command @o death by the halter, when they are caught. a i a i: , Despatches from Cairo state that orders have Given for our forces to evacuste Island No. Tt was stated at St.Louis that Claiborne Jack- Book, Arkansas, on the 8th inst, under Colonel Grey and Colonel Sharks, at- the enemy at Bear Wallow, near Cave City, | July and August to the paiaas rs Vir- ‘Thureda: and drove killing ginia. The first symptoms of popular re- ret indies a aa appeared in the Maine election of Sep. tember ; but what we may properly call the Northern political revolution of 1862 was not broadly made manifest until the Ootober elec- tions of Pennsylvania, Ohio and Indiana. In these elections the results were sufficiently broad to indicate that even New York would go by the board in November. We must, there- | country, our just cause, onr glorious coustitu- fore, hold our nigger-worshipping organs to the | tion, are lost sight of inthe inconse offered to the negro. The Devil must langh with infernal | to prepare for any and al} emergencies, and wo oan Dut reiterate our wartings. Wecan but recall the wants and necessities of France, and repeat thatthe destitution now rife throughout that empire must drive Napoleon into meastres which will satisfy the longings of his subjoote | of government currengy, added to the inorensed taking sixteen prisoners. ’ NEWS. ? | In the Court of General Sessions yesterday, Re- Hoffman sentenced a man named Jacob to the State Prison for two years, on a tion of grand larceny. Charles F. Gray, assaulted John McGuinness with a danger. weapon, was sentenced to the Penitentiary one year. In several other cases the prisoners ere remanded to the next term. By « communication from the Central Park Com- to the Board of Aldermen yesterday: appears that the sum expended in the constrac- of the Park is $3,595,330 75; that the total of land and improvements is $7,364,082 12, that more than four millions of people have A throneh its geter in clever monthe Ikewise the principal kinds of provisions, 3 ph Pee 2 a $1437, Padi paobbr pbiga cers who attempt to help emancipate the slaves. viously reported. ‘There was very little done in coffee, | It is true that Jeff. Davis will not be able to teas, gears tobacco, hago eg ice naval | carry out his proclamation; but, as President stores. jiskey was firm at . . were - a eb very tat. Lincoln is in precisely the same predicament, The Philosophy of the Late Elections—A | case: If President Lincoln’s proclamation is, record. We must tell them that it will not do to go behind the record and the facta to make | glee as he urges on thousands of Americans to up a plausible story ; that the great political | out each other’s throats in honor of bis black, Northern reaction of 1862 broke out in Octo. | earthly representative. Our administration and ber ; that it is still going on, and that the New | the rebel leaders alike sem to have gone England State elections of the spring of 1863 | stark mad,and gibber mockingly while the will show thot it is not @ tompoxpex malitioal | najjon dice Lonx exo<it ows geaule ware pat Lfor,a ohunge of thelksondition Burana hea | ime of the bank, cwcronar. aa ‘The stock market was active and higher yesterday, on | #78 that “the deliboration with which ‘the con- rumors that more issues of government paper were forth- | Clusions of the Executive have been arrived at coming. Government stocks did not participate inthe | gives additional solemnity and dignity to his advance, but were dull and neglected. Gold rose t? purpose.” gg aaa Money was worth @per | T+ strikes us that, so far as mere proclamation ecnt on The sales of flour on Saturday were confined to war is concerned, Jeff. Davis has rather the 9,100 bbis., and of wheat to 37,500 bushels, at unchang- better of President Lincoln. The President ed quotations, while of corn 115,000 bushels found buy. | proposes to set free all Southern slaves by a ers at an advance of }{c. alc. per bushel. Cotton sold to | few seratches of his pen. Jeff. Davis proposes pe Thoseytpeditaaes bales, and closed firmly at 67c. for | to hang all these slaves as soon_as they try to falc nabitipien semana Mit obtain their freedom, and to hang all our offi- we really do not see how that atall alters the Decided Revolation. as he beautifully expresses it, only “a bull The following table of the actual returns of against the comet,” Jeff. Davis’ proclamation is the late Ootober and November elections fur. | simply a bull against that abolition luminary nishes, we think, pretty conclusive evidence of | the North Star. Jeff. Davis is behindband, how- & decided popular revolution throughout the | ever, in his fulminations against General But. North, as compared with the results of the | jor, If General Banks did not sink to Davy Presidential election of 1860 in the same | Jones’ locker inone of those rotten vessdls States:— kindly charterered by Commodore Vanderbilt, a ,) Gen jutler tl re sup "one es a command of that picturesque little rebel city, soto 2811 | Consequently, as General Butler is.no longer 66,267 88,480 | in the field, it will be difficult for the rebels to aus eee capture him, unless they carry out their old 306 a “981,610 | scheme of invading the North. As General a Butler is not in command, there are now no commissioned officers under him, and, conse- quently, none to be bung for abetting bi, schemes, unless Jeff. Davis follows the example of our negro-worshipping Congresemen in re. “STnetuding soldiers? vote. : Si gard to arbitrary arrests, and makes his pro- Thus it appears that an aggregate republican | Clamation am ex post facto arrangement. But majority, exceeding 8 quarter of a million of | We believe that, unlike the nigger-worshippers, votes in 1860 in the States indicated, was com | King Jeff. bas too much regard for the old pletely wiped out in the clections of last Octo. | constitution to do that. General Butler being ber and Nevember. And yet, in the face of | removed, therefore he and his officers will these actual returns of positive results, the | esoape the Roythern halter, and half of Jef, republican journals, in various ways, have been | Davis’ mantfeate is rendered null and void, by consoling themselves with arithmetical expla- | what the rebels will call a Yankee trick. nations which exhibit a hopeful improvemen; But, as we said before, Jeff. Davis hes rather upon the republican State majorities of 1960, | the advantage of President Lincoln in regard to State by State. the negroes; for hanging slaves is certainly Thus, the ebief organ in thie city of the nig- | more warlike than freeing them. Pens and ink ger-worshippers, by voluminous statistics: | are very cheap, however, aad, although paper largely made up from speculative estimates, | is extravagantly dear, still the President may has repeatedly endeavored to show that there | obtain any quantity of foolscap by contract at bas been anything but a popular reaction the national expense, and it will be easy for throughout the North against the party in him to hang all the rebel army by a proclama” power at Washington. Trae, a very conclusive | tion. In this ease nothing would be left to Jeff, exhibit is thus made out in favor of the repub-.| Davis but to retort by threatening not only to licans; but the deception is too shallow to de- | hang all of our soldiers, but to pickle them like ceive intelligent men. For instance, taking the | pork, and eat them, broiled, boiled or roasted, returns in these late elections of the vote of the | in the true Fejee Island style of cuisine. Even soldiers in the Union army from two or three | if we adopted the same plan with the rebels, of the Western States, and the vote cast last | Jeff. Davis would still have the advantage; for, year by 6 portion of the soldiers from Pennsyl- | whereas our soldiers are fat, plump and in ex- vania, and applying the general average, repub- | quisite condition for cannibal, the rebel licans and democrats, to all the loyal States, an | ruffians are all skin and bones, and no more fit overwhelming aggregate republican majority | for a New Year’s or any other dinner than the appears. But conjectural majorities made up | immortal turkey of poor Job, and we should from such loose and straggling data are of little | have to cram them with victuals in Fort value, and are hasfily entitled to an elaborate | Lafayette or Fort Warren before they would refutation. be fit for the skewer. But if, as the negro- But there is another peculiarity in these cal. | worshippers’ reason, slavery fs the founda” culations of our nigger-worshipping contempo. | tion of the rebellion, and we have only to anni, rary which is entitled to a more particular no- | hilate slavery to annihilate the Southern con. tice than its conjectural vote of the army. We | federacy, why cannot President Lincoln launch allude to its ingenious dodge of counting in the | an emancipation proclamution at the King of elections of last spring and summer with those | Dahomey, and free all the slaves in Africa’ of last October and November, in order toshow | Such a proclamation would have just as much that instead of a political revolution in. the | effect there asin the rebel States, and would elections of 1862 we have had in them a steady | put down slavery with a vengeance. Why» increase upon the republican majorities of 1860. | Africa is the land in which negro slaveiPis born A very few words, however, will suffice to de- | and reared, and if we destroy slavery there we molish this fallacious idea. destroy it in the South also. What is the use of The Northern State elections of last spring | hacking away at « single small branch of a tree, and summer have had nothing to do with this | when with the same blow you can cut off the political revolution of last autumn. It was | tree at the roots and bring all the branches to Drought about by the repulse of Gen. McClellan | the ground? Africa, not South Carolina, origi, from the very gates of Richmond last July, by | nated our rebellion, according to the negro- the disastrous retreat of Gen. Pope to the fortl- | worshippers’ argument, and slavery in Africa fieations of Washington last August and Sep- | is therefore the thing to be eradicated before tember, and by the first positive pressure upon | the Union can be restored. Let us have another the people of war taxes, war prices and ade- | proclamation, then, by all means. Either preciated paper currency, resulting from ex h toagtine the gues) Dees, ant to Mow ap te hausting war expenditures, and by the war Information had also been received | draft, and by the arbitrary arrests of the War | hung and eaten atonce. Like the Apostle of trains are running on the railroad between | Department, and by the radical abolition mea- and Trenton, and that two thousand of | sures of thé lest session of Congress, and by troops are at the latter place. It was rumored | the stupendous corruptions connected with war | diately. General Grant's army has fallen back across | Jobe and army and navy contracts; but, above We doubt, however, that the people of either ‘Tallahatohie river. all, by @ prevailing conviction im the public | section of the country will much relish this mind of the North that under the present dia. | rapid progress peborelhot If Presi- cordant and incompetent Cabinet the war would | deat Lincoln’s proclam “resembles the the rebel Governor of Missouri, had died at not be oalleh iting tho grebies abssbetitoidiie. paper wars of the foolish Chinese, Jeff. Davis’ From all these causes the Northern popular | retaliatory document savors of the cruelty of The rebels under John Morgan are said to have | resction of our fall elections against the party | the bloody barbarians. Have not our rulers of Glasgow, Ky.. A portion of the Union | im power at Washington was developed, begin- country? Is it not time to cease such hideous stored months ago. Are we not yet ready to return to first principles, and crush out the re- bellion by fair fighting? Are not our officials sickened with the blood sacrificed to a sangnf San cen anil gellieipeoae Popular revoludien, in proportion to the pres- | of both sections of this ushappy nation ture of the causes to which we trace its origin. ee ae esyiums for the insane. people, thank God! are their acoused, who was arrested by Capt. Moses, of the | Commter Prociamation ef Jeff. Davit= | minds, and we 000 Samanitiana ad te does the try, save in the conduct of those who are at head of affairs, both North and South, and who act ina manner befitting rather the madhouse which awaits them than the high places which they now unfortunately occupy. The Pirate Alabama—Capture of the California Steamship Ariel. By the arrival of the steamship Ariel at this port, we have particulars of further ope~ rations of the rebel steam privateer Alabama. It appears that after she was supplied with coal and provisions at Martinique she started on a cruise in the Gulf. Among the vessele sho fell in with was the California steamship Ariel. ‘This was on the’7th inst. The pirate not only overtook the Ariel, but did it without any ap- parent effort. Captain Semmes, after detaining her for three days, treating the passengers with courtesy, paroling the marines, &o., ransomed her for two hundred and twenty-eight thousand The Ariel left this port for Aspinwall on the 1st inat., with the usual complement of passen- gere and one hundred and twenty marines: for the Pacific squadron. She is a steamer of twelve hundred and ninety tons burthen, was built by Jeremiah Simonson, of this city, for Commodore Vanderbilt, and cost three hundred thousand dollars. She made her first trip from this port for Havre in March, 1855, and subse- quently ran in the California line, afterwards as a government transport in the Port Royal expedition, and again in the California trade. The owners of the gold that has been ex- pected on the return trip of the Ariel have been looking for her for the past three days. Their apprehensions for the safety of the steamer and their treasure have been growing more in- tense, and among the speoulations afloat yes- terday was one that the Ariel had been captured by the rebel Semmes, and their gold dust seized and appropriated. These speculations were in part correct; but the news we publish to-day, thanks to the Paclfic telegraph line, solves the problem. It was fortunate, indeed, that the Ariel was not captured on her return trip, as she would, in all probability, have had a million dollars in gold on board, which would have been a snug little sum for the exchequer of the pirate chief. Her detention by the Alabama going outexplains the reason of her non-arrival. The opinion in San Francisco is, that ifthe Ariel returns to this port without a proper con- voy she will certainly be recaptured. If the captain of the Ariel is a cautious man he will not return until our navy furnish him with a suttable convoy. The capture of this vessel proves three things:—First; that the speed of the Alabama 4g sufficient, with a small pressure of steam, to overtake our moderately fast steamshipa; se_ condly, that in sending the fast sailing steamship Vanderbilt to Europe in search of the Alabama she went in the wrong direction to effect her capture; thirdly, that Admiral Wilkes and his flying squadron were non est on this last inour- sion of the pirate craft. The last we heard of the Admiral and his squadron was through the English colonial papers, when he was banging around Bermuda, increasing the indignation of British subjects at what they consider his out, Pages in British waters, which have attracted the attention of the home government sufficiently to cause an increase in the vessels of the Bri- tish West India squadron. We have not beard, however, that Admiral! Wilkes or his squadron has effected the capture of a single vessel or prevented one from running the Southern Ie there no enterprising steamship owner Teady to capture this privateer by contract? Is Semmes to have the freedom of the Atlantic and the Guif? Are our merchant vessels to be ransomed by a single craft flying the rebel flag, when we have a navy of three hun- dred vessels in commission ? Development of Napoleon’s Plan ef Con- quest on this Contin The telegraphic resume of the latest advices from Europe announces that the Emperor Na- poleon will send a large force to Martinique as a reserve to aid in the conquest of Mexico: The despatch adds that bad news had heen received in Paris from the French expedition actually in that country. We consider this sending of a large force to Martinique as ex. tremely ambiguous on the part of the French government, und deem the fact a corroboration of the schemes concocted by Napoleon and Sli- dell, fall details of which were published by us afew days since. A force is reserve at Marti. nique could, like a two-edged sword, cut both ways, and would be, we deem it, in dangerous proximity to our revolted States. We fear that Napoleon has fully made up his mind to ocoupy alarge portion of this continent, and that, in furtherance of this intention, he will seek the alliance of Davis. In Europe Napoleon’s in- fluenee has passed away. The Italians have risen against it,and before the necessity of a change of policy or actual conflict with the people of Italy Napoleon has been forced to succumb. He will leave Italy to the ac- complishment of her destiny. In Greece | fies. In homely phrase, it has grown too big for its breeches. And New York is but the great representative city of the free States converging and reflecting the wealth, the pros- tradgyhich all the loyal where he vainly intrigued against the influence of England, his discomfiture has been complete, African slavery must be proclaimed out of | while we know he failed in inducing Russia to existence or the entire rebel army must be | act with him sgainst the Washington govern- ment. There is in Europe, most evidently, a the Revelations al) President Lincoln has to do | moral cqalition against Napoleon, and he must is to write; and he should get to work imme- | perforce find allies elsewhere. Davis and his aiders and abettors are men of the moral stamp of Napoleon, and he will turn to them natu- Tt must be borne in mind that, at the date the French organs were announcing to the sensitive and vain people of that empire disasters in Mexico, nothing had transpired that was not known and provided against long since. These rumors were circulated for the purpose of gain- ing the popular consent towards the sending forth of another immense body of troops, des- tined, as say the official organs at Paris, for Mexico, but destined, as we hear from reliable sources, for other scenes of operations. There are already enough and more French troops in Mexico than will be needed to conquer the country. The large and powerful “ reserve” which will sail from France, ostensibly for Mar- nary and satanic pretence of philanthropy? Our | tinique, will, we fear, find employment north yet degenerated far enough? Have not the | ning with the disheartening disaster of last | measures of this war sufficiently disgraced the | and revolting fooleries? If this war had been | manfolly and constitutionally conducted by our | fdministration, the Union would have been re- | ‘We have earnestly entreated the government Our first oeyew~wen wm~e ey Ge fited thereby; Our Present Commercial Prosp Long Is It to Last Shallow thinkers and fire-eaters at the South used to indulge largely in the pleasure of sup” posing and predicting that the withdrawal of the Southern trade would quickly produce a most tremendous emash up in all the great marts of business at the North; that the great- ness of New York would pass away and be re- membered only as a thing of history, and that the noisy, bustling, impassable Broadway would lapse into such a state of quiet abandonment that the Russ pavement therein would soon be hidden under a verdant crop of grass. Two years of virtual separation have passed—two years of utter deprivation of Southern trade— two years of costly, devastating war—and in { respect are those predictions verified; at has become of the prophets? Like the nine hundred thousand warriors promised of Greeley, they have all vanished into thin air, and the New York of to-day is more noisy, more bustling, more thriving, more prosperous’ than the New York of any time between now and the days of the Knickerbockers. In fact, its population and business have outgrown its facilities, as the jammed up condition of Broad- way, from the Park to the Battery, daily testi- perity, the flourishing States are now enjoying. ‘We do not, of course, fall into the absurdity of believing that this state of things has any- thing of permanency about it. It is factitious and extraordinary, and when the time comes that the country will begin to fall back into its normal condition the change caanet fail to be accompanied with terrible shocks. The South. ern trade was, undoubted!y, of immense benefit to all the industrial interests of the North, and to the commercial interests of this city in par ticular. Its withdrawal, wnder ordinary cir- cumstances, if such a thing had been possible, might have proved almost as disastrous as the most malevolent secessionist could desire; but, under the actual circumstances, its loss worked no perceptible injury. The stimulus given to all industrial pursuits by the demands whieh the war gave rise to more thon counterbalanced the loss of the Southern trade, flomrished as they never did before in this eeun- try, the agriculturists had fine crops aad re- munerative prices, and all the industrial classes found profitable employment. Such is still our conditien, and will be until the crash comes, ‘The femands which war has made upon the national resources have been the means of cirou- lating ten or twelve hundred ‘millions of dollars throughout the country, aad the immense fesue they count us out of the game. They say, “The North, wearied and disgusted, will gladly Sccept peace; will refuse to struggle any longer; when they see our forces combined, will accept peace at any sacrifice.” And thus they will continue to think until they have aroused the deadly animosity of the people of the’United States; until a firm determination to root out the rebellion, even though the South were to be destroyed forever, has become general in the North; in fact, at that period when, relying upon no emancipation decrees or mea- sures of any kind, we resolve to conquer by sheer valor and strength. France, when she first resolved to’ conquer Mexico, was well aware that such a course:| would necessarily bring her into conflict with this. governmept, and wonld render a war between them almost inevitable; and yet France saw fit to proceed in her.plan, and evidently made up her mind to take the consequences: The rebellion broke out in time to give France all leisure for her undertaking, and she has pro- has gone about the work of conquest as a matter to be done not hastily, but well. The arguments and inducements held forth by the rebel commissioners, as to aid they might extend in Mexico, in case France would recognize the Davis government, were at first paid little heed to by Napoleon. Those were the days of our victories; those were the days when the duration of the rebellion was calcu- lated to a week. successes were, however, by the fearful blundering of those who meddled with our armies, rendered fruitless, and at last Europe, and France especially, imbibed the idea that the struggle was an endless one France, in her need—she must have work for her operatives—endeavored to form a coalition against us. She made appeals to England and Russia that they should join her and say to us, “Fight no more; let the South go; let us have peace; you are disturbing the whole world.” But England and’ Russia judged us better than France; and then, perhaps, their necessities are less crying, or they are better prepared to bat- tleagainst them. Be that as it may, they would not interfere, and now France will do so alone, We feel assured that such is her intention, and that her sending forth’ of “reserves” is the actual beginning of her plan. She will aid Davis, will break our blockade, will get cotton, will obtain aid in Mexico, will, in fact, reap manifold advantages from such an alliance: nd Napoleon is the man to make the most of all advantages. To those who say he will never dare go to war with us, we reply, he will dare that, and more too. He is a desperate man, driven by cir cumstances. And besides, how can we hope he will be deterred by fear of us? Are wenot seem- ingly incapable of striving successfully with our revolted subjects? Are we not at all moments exhibiting fears of an invasien of our capital? Are not our disputes and investigating commit- tees a proof of our divided state? Do we not make « paltry show in the eyes of the world, ‘wrangling as we are about the negro at a mo- ment when our national existence is at stake, is in great peril? And have we the right to demand or expect that France should fear or res) us? We must change the nature of this We must let the world know how terribly in earnest we have become, and then, and not until then, will we have nought to fear from the “reserves” of Napoleon. Manufactures their legitimate results, of which the financial crashes of 1825, 1837, 1842, 1854 and 1857 were insignificant specimens as compared with that which we may expect #@.any time. The issue Sf a couple of hundred millions of Treasury notes, joined to the increased bank issue, has caused such a depreciation of paper money that specie commands premium of thirty-twe per cent. The wants of the next year will probably have the effect of doubling the amount of irredeemable paper money in circulation, and of raising the pre- mium on gold ina like proportion. This will double the prices of almost all commodities, and be utterly ruinous to the poorer classes and to persons of fixed moderate incomes Whether the bubble will prove capable of standing that increased strain upon it before it bursts, or exactly what additional strain it le capable of bearing, is one of those nice, intri- cate questions which demand the closest study and the exercise of the clearest judgment, and is @ problem which our capitalists and business men are doubtless engaged daily in trying te figure out, so as to be ready to “stand from under” when the orash comes. The crash will come and the war will end almost simulte neously; for whiehever will come first in the order of inevitable events will undoubtedly bring the other as its natural oconseq Should peace come before the bubble burst the whole fabric of our present commercial prosperity will fall to pieces as suddenly as if & mine had been sprung beneath it; and should the financial crisis come first, the war will cease to be a possibility. Wise men will study the signs of the times. Let the fools be caught fa Tas Last Deeaprut. Puasm or Civ Wan— The English abolitionists are, we see, bestirring themselves to give a sort of moral support to the policy of the radical members of Mr. Lén- coln’s Cabinet. They might as well spare them. selves the trouble. The war is assuming @ phase which will soon take the issues out of Tam Exzvation or tus Ni against the comet.” If the bull is successful the niggers will be raised to the condition of perism and rage. If not, they will: Joy “ a goqd time” in “ Old Virginia,” ia of the benign institution of the South. The lat- ter is most likely. The war, it is sald, is to be @ long one. Happy nigger—unhappy Anglo- Saxon of the white race. Te Frepericxssvrc Dmasrer anp THe Nia- oxn-Worsurrrine JournaLs.—In commenting om the disaster at Fredericksburg, the shipping journals (it is giving them too much dig- ‘se. nity to call them radicals, which in Europe is : name for democrats) ignore the report ‘mmittee, and make the delay of the pontoons a small matter, having acarcely anything to do with the result; whereas the report of the committee shows that it is the followed for two hours, and, finding she could not gaia om. the ship, wore around and steod in the direction of another ship which was in company. The suspicious ‘vesso) was long and narrow, bark rigged, painted black, Captain Weaver, of the bark ‘Martha’s Vineyard, from Glasgow, also states that when in latitude 40, longitude 66, he saw asuspicious looking vessel to the northward, which keph away for him, and after following about an hour it came on thick and she was lost sight of, whe wou apparently a privateor. _———— Hows from Santa Fe. Kansas Crev, Deo. 97, 1862. %