The New York Herald Newspaper, January 16, 1863, Page 4

4 NEW YORK HERALD. JAMES GURDUN BENNETT, EDITOR AND PROPRIETOR. OFFICE NX. W. CORNER OF FULTON AND NASSAU STS. TERMS cash in advance. Money sent by mail will be | at the risk of the sender, None but Bank bills curreat in New York taken, THE DAILY HERALD, Tare cents per copy. THE WEEKLY HERALD, every Saturday, at Piva ceuts per copy. Anvual subscription prive:— | One Copy... + $2 Three Copies. 8 Five Copies. ce ‘Ten Copies. -b Any larger number, addressed to names of subscribers, @1 50 cach. An extra copy will bo gent to every club of ten. Twenty copies, to one address, one year, $25, and ‘any larger number at same price. Aa extra copy will be gent to clubs of twenty. These rates make the WEEKLY Hipraup (he cheapest publication in the oountry. ‘The Ecrorxan Epion, every Wednesday, at Five cents per copy; $4 per annum to any part of Great Britain, or $6 te any part of the Continent, both to include postage. ‘The Canornia Eprrion, om the Ast, Lith and 2ist of each month, at Six cents per copy, or $3 per aunum. AMUSEMENTS THIS EVENING. NIBLO'S GARDEN, Broadway.—Mancuant or Venice— Loan or 4 Lover. WALLAOK'S THEATRE, Broadway.—Pauiine. WINTER GARDEN, Broadway.—Caruxey Corwer— Frenou Ser. LAURA KEENE'S THEATRE, Broadway.—Paive oF TH Magxxr—Betsy Baxen, NEW BOWERY THEATRE, Bowery.—Bos Covey—Han- | LequIn Jack Suxrranv—Jack’s DeLicur, BOWERY THEATRE, Bow ‘tae BeanstaLK—IRKLAND AS aaron | BARNUM'’S AMERICAN MUSEUM, Broadway.—Miss Lavra Warnen—Commovore Nutt, &c., at all hours, Cotes Bawn—Afternoon and Evening. BRYANTS' MINSTRELS, Mechanica’ Hull, 472 Broad JM.—Enuiorax Sous, Boniesques, Danots, &c.—Hicw ADDY. WOOD'S MINSTREL HALL, 514 Broadway —Ermorran Boxes, Dances, &c.—B8anvr Giason. BUCKLEY'S MINSTRELS. roadway —Eraiortan Sonas, D. Fauncu Sey—JacK ann | 3. vesant Tas itute. 659 3, 40.—Tw Pomrrys, BROADWAY MENAGERIE, Broadway.-Living Wito Animaus, BeatpeD Sai, £0, AMERICAN MUSIC HALU, No. 444 Broadway.—Bat- Lets, Pantomimes, Buntesques, &c. PARISIAN CABINET OF WONDERS. 563 Broadway. Open daily trom 10 A. M, ull LO P.M. HOOLEY'S OPERA HOUSE, Brooklyn.—Ermortam Sonos, Dances, Buatxsquus 40 ATHENAUM, Brooklyu.—Dar. Corton'’s Exarsitton oF eae Lavauixa Gas. New York, Friday, January 16, 1803. NOTICE TO PAPER MANUFACTURERS. ‘Twenty thousand reams of good paper wanted. Size 82x46, Apply ai t! SHINPLASTERS. Neither corporation nor individual shinplasters are re- ceived at this offiee. National postal currency only will be taken for fractional parts of a dollar. Jeff. Davis has issued his annual message to the rebel Congress, which we give to-day in a con- densed and satisfactory form. He declares his Saxicty for peace, but rejects the idea of submis- sion. He speaks of the early determination of England, France and other Enropean Powers to confine themselves to recog- nising the self-evident fact of the existence of aatrict neutrality during the progress of the | war, but draws from this the conclusion that their Course of action was but an actual decision against | the South, and in favor of the Union, at the seme time tending to prolong hostilities. He denounces the conduct of the Union armies as atrocious and cruel. cipation proclamation, he says he may well leave it to the instincts of that common human- ity which a bencficent Creator has implanted in the breasts of our fellow men of all conntries | to pass judgment on a measure of which several: ; millions of human beings of an inferior race, peaceful and contented laborers in their sphere, are doomed to extermination, while, at the same time, they are encouraged to a general assassina- tion of their masters by the insidious recommenda. | tion to abstain from violence, unless in necessary self-defence, | The intelligence from the Army of the Potomac | continues unimportant, The news from our special correspondence in | the Southwest is particularly interesting. The | details of the operations at Holly Springs, the fall- ing back of General Grant's army, General Swee- ny’s successful chase after guerillas and General Ballivan’s brilliant battle with and defeat of the rebels at Red Mound, make up a complete picture of the doings of the Thirteenth Army corps. Our | map of a part of the district of Jackson, Tenn., in- cluding the battle field of Red Mound, is well wor- thy of attention, and was drawn by Lieut. H. P. | In relation to President Lincoln's eman- | back the joint resolution to provide for the pay. ment of the army and navy, and it was adopted by a vote of thirty-eight against two. Mr. Collamer introduced a bill relative to suits for damages growing out of arbitrary arrests. The Civil Appropriation bili was taken up, severa | amendments adopted, and the subject waa then postponed till to-day. The bill making appropria tions for the support of the Military Academy at West Point was next considered, and, after some debate, passed by a vote of twenty-nine against ten. The Senate then adjourned. In the House of Representatives the credentials of Mr. Jennings Piggot, of North Carolina, and the protest of Charles Henry Foster against his admis- sion to a seat, were presented and referred to the Committee on Elections. The remainder of the session was devoted to debate, in Committee of the Whole, on the bill to provide waya and moans for the support of the government. THE LEGISLATURE. In the Senate of our State Legislature yesterday but little business was transacted. A few bills were introduced; among them one to regulate the sale of hay and straw in this city and Brooklyn, and one to increase the pay of notaries public. The bill to amend the Assessment laws was report- ed upon favorably from the committee having it in charge. Inthe Assembly a resolution was adopted in favor of the appointment of a joint committee of the two houses to draft a bill for the ereotion-of a hospite! for disabled soldiers, The Speakership contest was resumed. Resolutions intended to ex- press the views of each party were offered, and gave rise to excited debate, which occupied con- siderable time, when the balloting was proceeded | with, the result being the shime as on every previous day of the seasion—a tie on’ each ballot. Only three ballotings were gone through with— making seventy-seven inall since the House con- vened—each candidate polling fifty-eight votes. The bill before the Senate of this State to divide Steuben county proposes to make each Assembly district a separate county, giving to each a popu- lation of about twenty-three thousand. The origi- nal name is to be preserved by one district, and the two others are to be called respectively Con- hocton county and Canisteo eounty. MISCELLANEOUS NEWS. The steamship City of Baltimore, from Queens- town on the Ist of January, arrived at this port early yesterday morning. Our European files by the Jura reached this city from Portland yesterday morning. Our telegraphic reports from Newfound- land and Portland, and the mails of the China, had fully anticipated the news. The Madrid (Spain) Gazette publishes the de- cree which abolishes passports from the lst of January. A foreigner may prove his identity by a written declaration signed by two respectable persons. He mast also make known whence he came and the object of his journey. The vises of passports by the Spanish Consuls is suppressed, as well as the fees demanded for them. Advices from Constantinople of the 18th of Do- cember state that on the 15th of that morth Mr, Joy Morris, the American Minister, read to Aali Pachi a despatch from his government at Wash. ington, conveying the President’s thanks for the prompt and energetic manner in which the Porte has followed up the pursuit and punishment of the murderers of the late Rev. Messrs. Meriam and Coffing. A letter from Pekin (China), of the 234 Septem- ber, inthe Paris Moniteur, announces that at the request of the principal inhabitants of Tche-Kiang, Lieutenant Lebrethon, of the French navy, has been charged by Prince Kong to form and discipline @ corps of 1,500 Chinese, to be employed in main- -taining tranquility in the province. The corps will be commanded exclusively by French officers. There is at present considerable excitement among the ice companies in the vicinity of New York, caused by their inability thus far to gather acrop. Usually by the middle of January the ice men have secured one-half their supply; but this season none has beech cut. Unless cold weather sitsin and continues for five or six weeks, the panic among the ice dealers will become alarming, and the consumers, next summer, will find that the rise in cotton will bear no comparison to the rise In ice. The St. Thomas Tideride of December 20 con- tains no news. The rebel schooner Retribution had cleared for Turks Islands, probably to obtain @ cargo of salt. She sold her cargo of cotton at 4c. a 50c. per pound. 4 Colonel James W. Wal!, who has just been elect ed to the United States Senate by the Legislature of New Jersey, will hold his seat only until the 4th of March next. He was chosen to serve out the term of Hon. John R. Thomson, deceased, and will take the place now occupied by Hon. R. { &, Field, who, after the death of Mr, Thomson: | wae tBWointed t0 the yi ancy by Gov. Iden. William A. Richardsof, elected to the United | States Senate by the Legislature of Ilinoia, will hold his seat until the 4th of March, 1865. He was elected to serve out the term of Stephen A. j Douglas, deceased, and will take the place of Hon, | O. H. Browning, who occupies the seat by the | authority of the Governor. The following are the names of some of the offi- cers who have been commissioned in Washington to command the loyal Indian regiments in Kansas:— Lieutenant A. T. Thoman, Captain Charles P. Twiss, Surgeon 8. B. Prentiss, Chaplain John Ging- erick, Assistant Surgeon J. F. Hathaway, Captain A.G. Moore, Captain Levi Woodward, Quarter- master John C, Lambdin, Assistant Surgeon J. F+ Newlon, Captain John B. Scott, Captain John Gardner. There are six hundred rebel prisoners at Cairo, who are mostly from Forrest's guerilla gang. A good old fashioned fog visited the city yester- day, and was accompanied by the usual amount of inconvenience to pedestrianism by land and navi. gation by water. The vapors were exceedingly dense in the morning, shutting off the sunshine from terra sirma until nearly nine o'clock, and in- Farrar, topographical engineer. Advices from New Mexico to the 22d of Decem: | ber last, express serious apprehensions for the | safety of the garrison at Fort Union, which kas | been considerably weakened by the withdrawal of ithe regulars and the Colorado Volunteers. Rebel expeditions were, not long since, it is reported on | Good authority, fitting out at San Antonio, Texas, | and Arkansas, for the capture of Fort Union, and “nnless it is speedily reinforced there ia a strong Probability of the undertaking proving successful. | Among the peculiarities of this war is the fact What on the 3lst of December, 1862, Lieutenant Colonel Gareache was killed at Murfreesboro, and | fon the 20th of December, 1362, Major Garesehe | ‘was killed at Vicksburg. Thus at different points, ‘mearly a thousand miles apart, the two brothers have loat their lives within two days of each other, both having fallen in support of the Union. Lonor to the brave. CONGRESS, In the Senate yesterday the credentials of Mr. Charles R. Backalew, the new Senator from Penn- \aylvania, were presented. A bill relating to mfli- | Neary courts was introduced. A resolution calling for information as to what amount of compensation is paid to collectors of customs, and from what source the funds for such compensation is derived was adopted. A resolution calling for information respecting the accident to the steamer Onsipec was | adopted. The papers relating to the French epoli- atioa ferred to the Committee on Finance Committee renortea terrupting for a while, almost entirely, the cus- tomary trips of the ferryboats. There were quite a number of collisions and accidents on the water, which will be found in detail in another column. In the Court of General Sessions yesterday, be- fore City Judge McCunn, Sarah Murray was con- victed of an assault with a dangerous weapon upon Margaret Creegan, at No. 55 Baxter street, on the Sth of December last. Michael Smith, an Irish laborer, was convicted of assault and battery with a slung shot upon George W. Brown, a police officer, on the 12th of July last. Both prisoners were remanded for sentence. The business which came before the Commis- sioners of Charities and Correetion at their meet- ing yesterday was entirely of a rontine and uninteresting nature. The number of inmates in the public institutions of the city at present is 6,511—an increase of eighty for the past week, The number admitted during the week was 1,596, and the number discharged, transferred, or who died, was 1,516. The prospect for WORIMMMer's Wheat crop in Qhio is very discouraging. Cotton was up to T1igc, @ 720. for middlings yesterday, with sales of 700 bales reported. Active movements in breadstufts enabled holders to establish a partial rise on | floar of Sc. per bbi., and on wheat of le, a 2¢. per bushel, corn raling steady. There were unusually heavy trangactions in provisions, particularly lard and bacon, which were firmer, Mesa pork left of at $1475. The main inquiry in the grocery line was for sugars and Rio | coffee, which, were advancing. The demand continueg | active for hay, tallow, apices, whiskey and petroleum, ag | upward tending rates, There were extensive freight ngagemente effected, and the market was strongor, The stock market continues irregular, though with a | vory large amount of business, both speculative and for | investment. Some stocks wore better yesterday, others lower, Money waa easy at6 per cent. Gold rose to 149 44 | closing at 147% bid. Exchanges closed at 162 a tor 3 The Vicksburg Failare—The Country Disheartened—President Lincoln Must Reorganise the War Office. As the full details of the tate unsuccessful dash of General Sherman against the rebel defences of Vicksburg are laid before the coun- try, the decline of the public confidence in Mr. Lincolu’s administration is becoming positively alarming. It is apparent on all sides, among men of all parties, all pursuits and all classes: and we see it in a thousand forms of manifeata- tion. We see itin the startling perturbations of Wall street, and in the present anxious coun- tenances of men whose faith in a crowning winter campaign was not even shaken by the Fredericksburg disaster. The clouds of doubt and. despondency, which hitherto have been relieved by broad spaces of a clear sky, now seem to overshadow the firmament. With a despairing earnestness never witnessed tili now, calm thinking men are inquiring of each other, is there any hope for the country from the present administration? and, if none, will not chaos be upon us before the appointed period for the election of another? This is a dismal picture; but it is true; and, to make the matter worse, there are good rea- sons for this fearful depression in the public mind of the loyal States. They have furnished the men, the money, the means and the facili- ties of all kinds equal to the task, if skilfully managed, of putting down twice the armed forces of this rebellion. We have now the best equipped and most numerous and powerful army afoot which any nation on the face of the globe has ever brought into the field; we have a navy which is equal in itself to all the armed forces of the rebellious States; we have earn- est, zealous and able generals, brave and intel- ligent soldiers; and yet, at the very time when the contrast is the breadest between the strength of the Union and the weakness of the rebellion, our reverses and disappointments come most thickly upon us. There is but one solution for this most ex- traordinary and most unfortunate state of things, and this solution is an incom petent administration. Good intentions are some- thing, patriotic motives are something, an honest devotion to the cause of the Union is something, and all these goed things are generally and generously conceded to President Lincoln; but they all to- gether amount to little or nothing while our armies and naval expeditions are wasted in petty enterprises and foolish combinations; while the resources of the treasury and the country are squandered by hundreds of millions, and when the public patience has been exhausted with a never etding but still increasing budget of blunders and inexcusable disasters. The exigencies of the day admit of no further trifling. As a friend of President Lincoln, and in behalf of his administration, we must tell him, seriously and earnestly, that the country has had enough of the military plans and combinations of Mr. Secretary Stanton and General Halleck. They have been tried in the balance, and have been found wantiag in every essential for military success. Tlgy should have been turned adrift immediately after the rendering in of the report of the Congressional committee on the Fredericksburg disaster; for that report condemns them. The cause of the Union now demands more imperiously than ever the re- moval of the present blundering Secretary of War and his inefficient General-in-Chief. But how are their places to be filled? Wecan tell the President how. Put Gen. McClellan at the head of the War Office, and abolish the office of General-in-Chief, and McClellan will do the work which Stanton and Halleck combined will never accomplish. Two heads, saith the old adage, are better than one, even if one be asheep’s head. But this will not apply to military affairs. That great maater of the art of war, the first Napoleon, says that in the management of an army one bad general is better than fwo good ones. How much bet- ter, then, would be one good one, like MoClel- lan, than two bad ones like Stanton and Hal- leck, at the head of the armies of the Union. Put McClellan at the head of the War Depart- ment, and letno intermeddling General-in-Qhief stand between bim and our armies in the fleia, and we shall soon havé a succession of cheering victories, like those of the first five months of 1862. The victories of Fort Henry, Fort Donelson Roanoke Island, Newbern, Pea Ridge, &c.’ were the fruits of McClellan’s combinations as General-in-Chief, and they would have been followed by still greater successes had his plans been faithfully carried out. The repulse og McClellan from the gates of Richmond, the disastrous retreat of Pope, the Fredericksburg and Vicksburg disasters, are the results of the bungling combinations of Stanton and Halleck. We have had enough of them. They have brought our cause and our hopes to the verge of ruin. The crisis demands their removal, and the country will rejoice again with McClellan's appointment to supersede them both. He is our man in the hour of danger. He is the man who can restore public con- fidence in the administration, and the man to | save it and the country from universal bank- | ruptey, dissolution end the political chaos of Mexico. President Lincoln must reorganize the War Office, or all is lost. Tas Wire-Bounp Wortp—Waat Harrenep in Loxpos Yesrervay.—In another column will be seen an important advertisement of the Atlantic Telegraph Company. This association is incorporated by act of Parliament. The capital is £600,000, divided into one hundred and twenty thousand shares of five pounds (twenty-five dollars) each, thus making it easy for persons in the most moderate circumstances to become shareholders. The advertisement details all necessary particulars. We believe that a good many shares have already been taken by our merchants, bankers | and others. We have all along dwelt upon | and illustrated the great advantages of an ocean telegraph that shall bind the Old and New Worlds together. We are in favor of all telegraphs over the whole earth, and of as many of them as possible, so long as they are properly managed. We wish to see the whole civilized world bound together, as it were, by one wire of union. We want to publish in the New York Heratp of each morning the news that has transpired in every part of the globe on the previous day, thus making New York the great centre around which the world revolves, We wish to have our correspondents avoid the Post Office, and make use of the telegraphic wire, whether they bo in Pekin, St. Petersburg, London, Paris, Vienna, Berlin, Melbourne, Jeddo, the Sandwich Islands or Washington. With this idea of the inestimable advantages “NEW YORK HERALD, FRIDAY, JANUARY i6, 1868. ht TN Of the telegraph to the merchant, the journaling, the statesman, the general of armies, and the private citizen of every class and condition, we wish to see this Atlantic telegraphic line laid down and brought into use in less than a year: There is scarcely a doubt that it will bea good investment; for experience in telegraphic enterprises has always shown that, when pro- perly managed, they rarely ever fail to pay. Singular Com: ial Effects of the Re- bellion—Cotton Is Not King. The revenue returns of England for 1862 show an increase of twelve millions of dollars over the previous year, in spite of our blockade and the consequent searcity of cotton. This single fact is an argument against intervention stronger than a thousand speeches in Parliament or harangues from the hustings. The god of Eugland is pro- fit. While figures thus plainly demonstrate that our war is putting more money into the British purse than intervention could possibly do, there is no danger of England’s interference. As the London Times justly remarks, England can better afford to support all her operatives from the public treasury than to run the risk of losing everything by involving herself in-our quarrel, Just so long, therefore, as our war, in spite of the cotton famine, isa source of profit to England, just 60 long may we expect her to stand quietly by watching’ the sanguinary contest between North and South, and arguing. like Iago— Now, whether Roderigo kill Cassio, Or Cassio him, or each do kill the other, Every way makes my gain. The English are a nation of shopkeepers, and regard ali questions from a shopkeeper’s stand- point. Their profit and loss account gives us credit for an increase in’ the revenue of twelve millions of dollars, and a debit of only a few thousand starving operatives, whom a@ million or two per annum will comfortably feed, clothe and lodge. Our custom, therefore, is valua_ ble and must not be sacrificed. In fact, it must be remembered that the cotton operatives are the only persons in England who are the sufferers from our war. It is a sig- nificant and suggestive truth, also, that these suffering operatives are the most sincere, hearty and steadfast supporters of the North. The manufacturers, on the other hand, have gained largely from our troubles. The stoppage of cotton stopped their mills, it is true, but it also enabled them to sell off at enormously advanced prices all of their old stecks, which had a¢cue mulated for years, and thus secured them against that commercial crisis which was very near at hand in Europe when our war broke out. In- stead of precipitating this crisis,as many people predicted, our war, in fact, prevented it, and has made the manufacturers immensely rich, by relieving them of their old, burdensome stocks of goods. This old stock has thus supplied them with capital sufficient to keep them in luxurious idleness during the war and to enable them to resume operations when the war is over. Even the cotton manufacturers, there- fore, have been benéfitted, rather than embar- rassed, by the cotton famine. As for the other English manufacturers, the profits they have made out of our civil war are incalculable. The same apparently paradoxical state of affairs exists in this country. In spite of the war, almost all branches of trade and manufac- ture are ina flourishing and prosperous con- dition. Had our finances been properly man. aged, the country would now have been ina condition of unparalleled prosperity; and even as itis there Is much less poverty throughout the North, and fewer beggars infest our streets this winter than during any previous year. A large proportion of our population is in the army, and, were the wages of our soldiers promptly paid, distress and privation would be un- known. The requifements of our immense armaments by fand and sea have 4 wonderful vigor into almost all our manu- factures, and labor isin great demand and is well recompensed. This state of affairs is also directly contrary to that popularly predicted at the commencement of the war, when every one seemed to anticipate that the grass would be growing in our sitecs batts Fear oF ihe war was over. If, therefore, England should be unable or unwilling to support the opera- tives out of employiiént, igt her transport them to this country, where we Cita {bem plenty to do, and will pay them well for their work, Our recent contributions for their support have shown that there is no scarcity of food and money on this side the Atlantic. Before long, we hope, we shall have a more capable admin- istration of our financial and military affairs, | and then, with our currency redeemed from its | present depths of depreciation, and victory upon victory crowning our arms, we shall be even better able, not only to conquer the rebel. lion and restore the Union, but also to provide for all Europeans who seek upon our shores a refuge from poverty and want of employment | at home. Events demonstrated “that cotton is not king, and in both hemispheres no one now respects the dethroned monarch. Tax Baygs Exreprrion IxvestigatinG Commir- tex.—Since the commencement of the war Con- | gress has several times felt called upon to in- | quire into cases of gross negligence, of positive | fraud, on the part of persons having contracted to | furnish stores, munitions or ships to the govern- | ment. Our readers are familiar with the disas- ters which menaced the Banks expedition, | through the incompetency, carelessness or bad | faith of the parties whose duty it was to charter the vessels employed for the purpose of trans- | porting troops to the South. The negligence evident in this instance wes so glaring as to cause a universal demand for the punisbinent eg | the guilty parties. A select committee was in | consequence appointed by the Senate to investi- | gate the affair, and the gentlemen in question came to this city for the purpose of examining | the parties concerned. The work was duly attended to, the committee returned to Wash- ington, and have made a report of their pro- ceedings. It simply turns out to be another | whitewashing affair. The results of the investigation made by the select committee prove gross negligence, and we demand, in the name of the peo- ple, that the guilty parties be duly punished. We have had enough of investigating com- | mittees which proved negligence and frands, recommended punishments and then allowed the matter to drop, the parties concerned coming out of the investigation apparently whitewashed, and ready for more pickings and stealings, spite of the blame known to be at. tached ‘to them. We expect that in this instance | the resyl{s will be the same. Congress will not punish guilty, and when another expedition is made up parties will be ready to drown half the troops sent, #o they, the contractors and their agents, écure their commissigns.~ Until sothe nositive Tesults have been Abiajined throuch =~ look spon them as great humbugs. Surely thé time has arrived when we uisy expect the de- spoilers of the government to be punished. Useful Reading for President Lincoln. The Count Adonis Gurowski tella us in his curious “Diary” that President Lincoln reads the Herat, and no other newspaper but the Heravp. In this the President shows his usual excellent common sense; but he must be aware that there is other reading besides that ina newspaper, which is eminently worthy of his attention. For example, we recently recom- mended him to seriously study the Count Gurowski’s book, and,see for himself the dia- bolical nature of the plots of the radical negro- worshippers. By this time, we trust, be has been sufficiently instructed from the Count’s book how not to govern this country, and now we propose to refer him to a work which will teach him how to govern us. The book in ques- tion is called the “Napoleon Correspondence,” and consists of the letters of Napoleon the First, published by order of the Emperor Napo- leon the Third. The eleventh volume of this most interesting work has just appeared in Paris. It contains nearly a thousand letters, written by the great Napoleon, between the months of July, 1805, and February, 1806, and addressed to ali sorts of personages—kings, viceroys, generals, ad- mirals, relatives, chiefs of police and diploma- tists. These letters treat of every possible sub- ject, from war to religion, and from the ee of the ex- «drunken baker to inatters involving penditure of millions of francs. The copious- ness of this correspondence surpasses even that of Secretary Seward, and in careful elaboration and minute details the letters are fully equal to those of our industrious Secretary of State. The moral of the work is that which we have constantly endeavored to im- press upon the President—viz: thgt the head of @ great people should attend to his business for hiwself, and not trust important affairs to the judgment, or want of judgment, of his subordi- nates. Napoleon carried out this maxim to the very letter. We find him rebuking the Prince Eugene for extravagant expenditures; ordering that a drunken baker, who insulted a sentinel, should be severely punished; rebuking the ex- cessive zeal of meddling and officious suborgj- nates; arranging the affairs of the press, and planning the invasion of England, and in all cases giving his directions so plainly and clearly that If the as error were made he could know instantly who made it and how to rectify it. This is the true science of govérhment, and we advise President Lincoln to procure copies of this work immediately for himself and for the heads of all his departments. The services of some good French scholar, who does not pass his time in superintending the McDowell Court of Inquiry, and who will not bungle the transla- tion, should also be secured; and then the President and his Secretaries can take a few lessons from Napoleon, and learn how to avoid any future trouble about pontoons and how to reward generals and officials.accerding te their merit or demerit. A couple of the letters in this eleventh volum® are particularly apropos of our own present af: fairs. Thus, on the 10th of August, 1805, Napo. leon writes to M. Talleyrand:—“The despatch from Washington has fixed my attentien. You will tell the American Minister that it is time all this should end; that it is scandalous that the Americans should be supplying provisions to the brigands, * * * and that [ can no longer see with indifference the armaments, evidently directed against France, which the American government allow to be prepared in their ports.” Napoleon, the great master of war, ought to know something of the rights of ngytrals, and if he condemned us for doing for his enemies what England ia now doing for the rebels, would not President Lincoln be perfectly justitied in informing the English ambassador that it is time such “scan: dalous” proceedings as the fitting out of pirates to devasiate our commerce and the supplying our enemies with provisions and arms should also end? But Napoleon also gives President Linco! aint in regard to home irs. To M. Fouthe he wines—'l assured tha ihe Sha Captain of the Forest of Compiegne, Wi? Has poor man and in debt some few years back: has now eight horses in his stable, and has just bought a house worth twenty-five thousand to thirty thousand francs. Hold a secret inquiry into these matters, in order to ascertain if this | man’s fortune has not been acquired at the ex- pense of the public.” There is an example for President Lincoln to follow. How many of our officials aud contractors were ‘poor and in debt” two years ago, ind are now rolling in their carriages prematurely rich ? How many such men does President Lincoln know ? Here, in this city, are individuals who, before this war broke out, were not worth a dollar, and who can now afford coaches and coupes, and villas and brown stone houses, and all the applianees of wealth. Suppose Presi dent Lincoln should cause an inquiry to be | made “ whether these men’s fortunes have not | been acquired at the expense of the public,” what would be the result of the inquiry ¢ Every one knows as well as he knows day from night. The extravagant outlays of this war- the immense debt which bas aceumulated, the | heavy taxes which are imposed, show that the nation has been most grossly robbed. Apply Napoleon's rule, and the robbers may be easily discovered. Of all the Napoleonic ideas, none better deserves the attention of President Lin- coln. Tue Siexs or tHe Timps—Prooness oF THE Couxrer Revo.vtioy.—-The election ef Colonel Well by the New Jersey Legislature as United States Senstor is still more significant than the election of Mr. Buckalew to the same position by the Legislature of Pennsylvania, whieh, only a short time since, Simon Cameron held in the hollow of bis band. Colonel Wall is avowedly elected in order to rebuke the administration for ite arbitrary arreste, just a8 Dr. Olds, of Ohio, was elected a member of the Legislature of that State while he was confined in the casemates of Fort Lafayette, and on bis arrival home, after his release, was car- ried on the eboulders of the people, who had “assembled in vast numbers to welcome bim. In the same manner, the appearance of Colonel Wall at Trenton, whither be had'repaired to prevent his name being used, was the signal for the greatest enthusiasm, rendering his election sure in despite of all his remonstrances. Our correspondent describes “his pale visage, with his left arm in a sling, paralyzed with rheuma- tism ever since he came out of Fort Lafayette, as doing the business both for himself and the other candidgtes.” The first efidence of this counter revolution was discoverad in the tein elégtions of Naw AONE Lee Ee tall theee investigations the public will continite | | t England, which went conservative, wad State election in Maine last September, in j gro waa & Pomarkable Taiting of in the © licaa ores. Thie was a finite cloud in tae apparentiy *Dout the size of d mag's /hand it grew larger @nd larger and spread { Middle States and the West, till, in the elections of the fall, the whole heayens se overcast and frowning updn. the adnilaistr ‘The mutterings of the thunder heard im,Oc! in Pennsylvania, Ohio, Indiana and low came louder and louder in New York, © Jersey, Dlinois and Wisconsin in the Nover contests. More recently the attitude of Gc nor Seymour in New York, and the action o Legislatures of Pennsylvania, Indiana New Jersey, mark the onward progress o/ movement which is soon destined to abolition rule out of existence. The m ties against them in the elections of the year will be as nothing compared with th cisive victories over them this year anc next. They are doomed, and nothing can them. The conservative movement will tinue its triumphant course till a complete: final end is made of the pestilent faction w is waxing fat upoe the ruia of the country The Financial Condition of ¢ south. The Confederate Congress assembied en day last at Richmond, and the journals of city, in announcing the fact, call the atte of that body to the necessity of prompt decisive action upon the finances of the S” which are now in the most deplorable c tion. Let us see how this is. We published a day or two ago {rom the mond Enquirer, an instructive article, und caption of “The Issue of Irredeemable Cont ate Notes,” which, taken in connection wit financial statement derived from rebel so which we published on Monday last, des tho attention of the country and the g° ment. It appears that, greatly as our carr is depreciated, that of the Confederates i worse, By the latest quotations from mond gold is selling at 210, while us it has reached 150. Prices of commo are inflated with us. But what are they a South? At Galveston, just before its rea) by Magruder, flour was $50 per barrel mep’s boots $25 per pair, and the conditi the people there is described in a lett “destitute and deplorable.” At Riche within a week, molasses sold at $11 per gi This shows the great depreciation of theic 1 money, in addition to the scarcity of the p saries of life. te ; The total expenditure of the Oonfed government was, in August last, $347,27¢ Of this only $74,361,650 was then fanded. balance is consequently outstanding iv shape of notes and temporary loans. To J ary 1 a sum of $209,550,487 was requ The plan suggested in September last the issue of interest bearing notes and dey on call, as these were withdrawn from cir tion and held as investments, and did not d ciate the currency by excessive inflation. in the Richmond Enguirer of the 9th in “the evil of a superabundant Treasury issu described to be so great that it “must be pressed.” It says the proper amount of m needed for circulation is ascertained tc $150,000,000. But the effort to conduct war for the last eighteen months by Tres notes has ao increased the circulation as t preciate the currency and increase prices ruinous degree. As a financial scheme Enquirer pronounces its failure only a que: of time. The public sentiment has made t notes a legal tender, and driven out of 6 ence the circulation of the local banks. they are depresiated, owing partly to excessive issue and partly to the uncerts of the success of the confederacy, thc the States of Alabama, South Carolina and ginia have guaranteed the Confederate bo What is needed, the Richegnd pabeh.stius to reduce the currency 000,000, never to let it exceed that amount, which m be effected by compelling its exchange ai! rate of two dollars in bonds and one dolla iow notes for three dollars. of the now fount Hae gle eat tha Confederate States have revived the Fre; assignat system, and its results will prov disastrous in the confederacy as in France. is led to the conclusion that the only mod supporting a war is direct taxation, by wl: not only the interest will be punctually 7 upon the bonds and Treasury notes, but as ing fund will be created to liquidate the p’ cipal by degrees, This is what the Bri; Parliament did by the advice of Pitt, enabled the government to get through a v: long war with complete success. Taxation 1; prevent the issnes of Confederate paper fi depreciating in the market, and thus sustain | credit of the government. Bat such is s critical condition of the Confederate finan. owing to the contrary system, that the Ri’ mond Examiner says that, though the succ, of the blockade has operated severely upon Southern people, it has proved the salvation’ the finances of the confederacy; for, had thy been no blockade, the money of the gove ment, being brought in contact with other c* rency, would have lost all value, from } quantity of it in circulation, and the Confed® rates would have failed in the war from ‘ failure of their finances. But for @ blockade many of their people would be t moralized and the currency utterly destroy: There isa great deal of truth and reason | these representations, and the blockade, ii’ everything else, bas its two sides, Certain it) that it bas had a wonderful effect in developi: the manufactures of the South. ' But the practical conclasion drawn by t Richmond papers {s that immense taxation is r- cessary, and they call for a direct tax of fre $100,000,000 to $150,000,000. They say tt’ | never in the history of the country were affaire in a better condition te bear the burde: of heavy taxation. Agriculture, trade and Goi, | meree never were so prosperous, and ove; | acticle of domeetic production can bear a sma | tax. They add:—Wheat, corn, pork, be ‘ oats, bay, woel, fodder and straw are selling prices never before paid in this country. C, ton when sold brings treble its usual price, ax when not sold is daily advancing in valu Manufactures of every kind, under the impet/ of the war, have increased in amount and e- hanced in value. Trade has experienced | like impetus from an abundant currency un{ it hag degenerated in shameless speoulation ai inordinate extortion.” « | If ft be true that various interests of wal South are prosperous in consequende of t' ) war, how mutch more {g it true of the North; ac if those interegts opp bear,taxation, siinjlar fits rests canbear still higher taxation,in the Nort *OPtieainey SS