The New York Herald Newspaper, April 17, 1863, Page 4

4 NEW YORK HERALD. JAMES GORDON BENNETT, gvitok AND PUOPRIZIOR. . ‘OFFiOB N. W. CORNER OF FULTON AND NASSAU STS. TERMS cash tm advance. Money sent dy matt will be atthe risk of the sender. None but bank bills current in New York taken. THE DAILY HERALD, Tunas cents per copy. THE WEEKLY HERALD, every Saturday, at Frvs conts per copy. Annual subscription price:-— One Copy... ‘Three Copies. bd Fivo Copies. 8 pis Copa i Volume XXVIII AMUSEMENTS THIS EVENING. AGADEMY OF MUSIC, Irving place.—Italian Opera.— Noxma, NIBLO'S GARDEN. Broadway.—Camitie. WALLACK’S THEATER. Brosdway.—Mr Nowx Son- ueLaw. Pg ii GARDEN, Broadway.—Actrzss or Papvs— LAURA KEENE'S THBATRE, Broadway.—Couuane Baws—Mopan or 4 Wire, NEW BOWERY THEATRE, Bo Bowery.: —Nr, anp Mks, MARDEX—BONIPACH IN A A vexture—Oor On 4 Sri BOWEBY THEATRE, Bowery—Jaox anv tux Bran- braLk—AGNES DE VeRr—Pizal o—teetaxe A As Ie Is. BABNUM'S AMERIOAN “MUSEUM. Broadway.—Momts Warren. Com, Nutr, Livima Hirrorotamus. &c., at all ——- Mato—Doms Beiix. Afternoon and rening. BRYANTS' yng 3 Mechanics’ Hall, 472 Broad- ye: —Rguiorian Soncs, Buncesquas. Dances. &0.—Biack Gap! woop's mpereny | matt, 614 Broadway.—Ermiorian Foncs, Dances. &c.—R. RK Srng wRW IDEA, 68 Brosdway.—Sonas, Buncxsoves, Baers, £0. —Hesart's Curse Fix—Baoous's HOPB CHAPEL, 720 con; om, A Toum iv InELanp. \way—MacEvor's Hiseam- ‘| AMBRICAN THEATRE, No. 644 Broadway.—Batcers, Pawtomauns, Buntzsquns, £0. PARIBIAN CABINET - wea OS Broadway. Open dailv from 10 A. M. ill pag cyte ‘OPERA i “eg Brooklyn.—Ergi0rian Fonen ancus, Buncesquus, £0, New Yerk, Friday, April 17, 1863. THE SITUATION. General Foster has been relieved from his dan- gerous position at Washington, N.C. A despatch geceived by General Dix, at Fortress Monroe, yes- terday, says that a steamer, with a regiment of troops and & supply of provisions and ammunition, @ucceeded in running the rebel batteries on Tar wiver, and arrived at Washington on Tuesaday. ‘There wad nothing few from Suffolk yesterday. ‘Tho rebels still continue to invest ¢he:place. Our ‘orrespondence to date of the 15th gives all the details of the skirmishing up to that time. No s@eneral engagement has yet taken place; but the utmost oe end activity prevails en 24 be iden, ‘The Sickie’ Sentinel says that our iron-clad fleet left Charleston harbor for the south on ‘Sun- day, at four o'clock in the afternoon; but that the ‘impression prevailed there that they would soon return and renew the attack upon the city. Our correspondent at Hamilton, Bermuda, im forms us, under date of the 6th of April, that the wchooner Legate, which arrived there from Cuba on the 30th of March, reported that the Rritish was ehip Cy; , when entering a port of Cuba from a cruise from the same place, was fired on by two United States vessels—one on each side her—at one and the same moment, Cap- tain Masters, of the Legate, had heard that on the commander of ‘the Cygnet demanding ‘an explanation from the American officers, he was informed that they had mistaken his vessel for the Alabama, Florida, or some other rebel privateer. ‘This temporary difficulty, if it even really occurred, may have been exaggerated into the rumors just forwarded from Havana concerning the arrest and parole of Admiral Wilkes. EUROPEAN NEWS. The steamship Arabia, from Queenstown on the 5th inst., reached Halifax yesterday, on her voy- age to Boston. Her news is three days later than the advices of the City of New York. The rebel cotton loan sustained avery heavy collapse in England on the 2d inst., in consequence of the suspension of J. B. Spence, of Liverpool. It was thought that Mr. Spence was the financial agent of Jeff. Davis, and the loan was consequently quoted at from one anda half to two and a half discount. It was afterwards foiind that Mr. Bpence was not the agent of the Confederate Treasury; but the stock continued to decline not- withstanding, and was at two and a quarter and ‘two and three-fourths discount on the 4th inst. « The English government had announced to the owners of the steamer Magicienne her release from the Union arrest, stating that Lord Lyons would demand full compensation for the parties interest- ed from the government in Washington. ‘The particulars of the destruction of the Ameri- can yorseis, Star of Peace and Aldhambra, by the Alabama, had been published. They were both burned at sea, The London Times and London News express fears of American retaliation against. England for permitting the fitting out of rebel privateers in her ports. The London Times hopes good for the Union fiom the formation of loyal league associations at the North. The English people were still in bad humor rela- tive to the case of the Peterhoff. Lord Palmerston delivered several speeches in Fadinburg, in which he reiterated his defence of Fn ‘s “neutral” policy in America. revolution in Poland was gaining fresh spirit, and extending. Langiewics had been con- veyed from Cracow’ to Moravia. In Swato and other districts the nobility, middle classes and pensants had risen en masse against Russia, The insurgents had addressed 1 manifesto to the peo- ple, which occupies seven columns‘of the London jonenals, A Circassian chief had landed in Cour- Jaud with a well appointed force to aid the revolu- tionists. The government of Sweden had embar- goed @ British steamer at Malmo for having » de, tachment of Poles on board from England. It waa waid-that the Czar of Russia would grant an av tonomy to Poland, bat would not sanction a na- tional Polish army. There were considerable dif- ferences in the French Cabinet between MM. Fould, Magne. and the Count de Persigny. Rentes | hod declined. Consols closed in Lonton, on the 4th of April, at | 92% 9 92% for money. The English funds were quiet, The Liverpool cotton market for a week was reported by the City of New York. The day after she sailed (the 3d instant) was Good Friday, which, with Saturday, the 4th instant, were ob- 6 rved as holidays in the cotton market. Bread- Stuffs were firm on the 3d instant. Provisions were Gull at a decline om the asme day. There was no Dusiness transacted in any of the Liverpool mar- Kote on the 4th inst, THE LFO‘SLATURE. fin the State Bemate \esiorday, asnong the bills sO were those giving our Supervisors annual salaries of $2,000, appropriating $200,000 for the relief of sick and wounded soldiers, to amend the Militia act of the last Legislature, for preserving Historical records in the office of the Secretary of State and the Annual, Supply bill. The Across Town Railroad bill was received from the Assembly and referred to & Commitee of the Whole. Third readings were ordered on the bills amending the Unsafe Buildings act for this city, empowering our Mayor and Comptroller to appoint marshals, and on vari- ous others of leas interest to our readers. The resolution proposing such an amendment to the constitution as shall permit soldiers to vote by proxy at our State elections was referred to the Judiciary Committee. The State Tax bill was ordered to a third reading; also the bill to give our Aldermen and Councilmen salaries of $2,500. In the Assembly, the committee having in charge the Broadway Railroad bill presented their report on the subject, and, although in the morning sea- sion its consideration was made the special order for the afternoon, when the hour to take it up ar- rived other business was decided to have prece- dence, and the discussion on this subject had to be postponed to another day, much to the disappoint- ment of tle large sesemblage which filled the gal- leries. The offer of Mr. A. .T. Stewart to pay $2,000,000 for the privilege of constructing and run- ning the Broadway Railroad was read to the House by a member. Tho majority of the Callicot Inves- tigating Committee made their report, entirely clearing Mr. Callicot of any criniinality in refe- rence to the matters brought before them. The minority of the committee were granted the privi- lege of making a report any time this week, and the two reports were made the special order for next Monday evening. Favorable reports were made on the bills for the recording of internal revenue stamps, to enable the banks of this State to operate under the National Banking act, and to incorporate the American and Mexican Railroad and Telegraph Company. The bills al- lowing railroad companies to employ epecial po- lice, to facilitate the construction of the Upper Hudson River Railroad and the Annual Tax bill were ordered to a third reading. The Forty-second Street Railroad bill was referred to the Reilroad Committee to report complete. MISCELLANEOUS NEWS. In the Court of General Sessions yesterday, be- fore Recorder Hoffman, James Williams pleaded guilty to petit larceny; George W. Hain pleaded guilty to grand larceny; George Hettrick pleaded guilty to assault and battery. Patrick Curley was tried and convicted of grand larceny. Bridget Breen, a servant girl, was again arraigned on an indictment for grand larceny, when the jury brought in @ verdict of guilty of petit larceny. All the prisoners were remanded for sentence. Geo. W. Nain, being tried and convicted of grand lar- ceny, was sentenced to the State prison for two years and six months. Counterfeit imitations of United States postal currency are very much in circulation at present. Aman named Keenan was committed yesterday by United States Commissioner ‘White for passing several apurious-epecimens of paper money. ‘The members composing the New York Annval Conference of the Methodist church. ‘tieal business consisted of anexamination into tle characters of the clergymen present; but nothing having been brought forward against any one of them, the whole body was declared, by resolution, free from criticism. Statistical reports were then submitted by the various members, giving an ac- count of the condition of the church in their re- churches in New York in furtherance of the ob- Jecta of the denomination: Church or 3.8. Supa ‘Mission. = Missions. = Union. Preach'rs. 3 $170 00 3 45 700 60 00 St. Poul {0,000 00 87000 «25:00 = 851 00 130 00 325 276 230 000 00 50 00 — 10000 200 00 20000 «61700 =—200 00 ‘231 00 1660 1600 10000 860 00 20000 «619238 =6200 00 650 00 14000, 2455 175 87 = 13 60 = 10 00 602.20 5600 2270 125 00 612 00 98 CO — i233 873 00 2330 «61667 86119 00 40 00 1 8t — 1800 10 00 200 86865 | 4000 20 00 12% 26 00 1,635 47 166 70 1,600 98 ‘After « some routine business the Conference ad- journed to this morning. * Both the demooratic and republican papers. have of late been publishing figures to show the probable relative strength of parties in the next United States House of Representatives, and both sides have arrived at equally wrong conclusions. The negro-worshippers exhibit a preponderance of strength on their side by coupling with the aboli- tionists all the conservative republicans and a few war democrats, while their opponents are equally sanguine of a majority, and to prove their position they class with the copperheads all the conservative war democrats, without regard upon which ticket they were elected. A large ‘majority of the next Honse will be in favor of a vigorous prosecution of the war; and in order to accompligh that end they will throw aside all partisan technicalities and feelings, and the ideas and propositions of the radicals, copperheads and niggerheads will be dealt with and thrown aside as political deadwood. John Hobart Warren, who was recently elected Mayor of St. Paul, Minnesota, was Secretary of the American Legation to Spain under President Fill- more’s administration. One hundred and fifty negroes, who had emanci- pated themselves without compensation, in the border counties of Missouri, passed through Kansas City on the 7th instant, bound for the interior of Kansas. They aleo emancipated a large number of horses and mules. The storm had a tendency to check business yesterday in Wall street, Stocks were rather dull, but firm. Gold fluctuated between 152 and 154, closing 163% bid. Ex- cbange closed at 167%; a 168. Money was very easy; call loans 5 a 6 per cent. The storm yesterday checked business operations groat- ly. There was leas activity in all the leading branches of trade, including flour, grain, provisions aed groceries, though any changes which took place in prices were fa- vorable to purchasers, The cotton market was much le- Preseed, middiings closing heavily at @60. a 6%. There was lets inquiry for tallow and whiskey; and in nearly all other articles transactions were restricted. Freights were without any remarkable alteration, the bulk of the engagements having consisted of breadstuff and pro- visions, principally the latter, for British ports, War wirn Enotaxp.—The fight at Charleston gives us peace with England for at least one year. It demonstrated the fact that twenty or thirty of our iron-clads can destroy all of the present navy of England without being at all damaged by any English cannon. This fact is @ bail bond pledging England to keep the peace with us for one year at least, even with her enormous facilities for the construction of iron-clads. Tue Case or THe Perennorr.—It is said that Secretary Seward is in favor of giving up the | Petethoff, upon the demand of Lord Lyons. The case is one ef great delicacy, because the Peter- hoff, although uadoubtedly laden with contra- band goods, was bound to Matamoros, a Mexi- can port. The way to prevent any repetition of the Peterhoff case is to take possession of the line of the Rio Grande. Then no contraband goods could escape us, aad these English-rebel veasels wonld he forced to’ run the blockade in ture as well as in facto reassembled at_ ‘halrpast, eight o'clock yesterday | -| morning, Bishop Scott in the chair, The first piac- NEW | YORK HERALD, #RIDAY,: APRIL 17,1863. The Rebellion—EKverything Staked on the Present Campaign. ‘We are convinced, from the neceesities of the rebellious States and the developments of the day, that Jeff. Davis aad his confederates have invested all their forces, all their available re- sources, all their energies and all their hopes, | upon the present campaign; and we believe that, with their dislodgment from Vicksburg, or Tennessee, or Virginia, without tho recovery | of any lost ground on their part, they will, under the pressure of starvation and exhaus- tion, be prepared for submission to the Union. In support of these opinions let us group 4 few facts together. In his late address “to the people of the Confederate States” Jeff. Davis says:— “The very unfavorable season, the pro- tracted droughts of last year, reduced the har- vests on which we depend far below (mark the words=-far below) an average yield, and the deficiency was, unfortunately, still more marked in the northern part of our confederacy (the grain producing section), where supplies were apecjally seeded for the army. If, through a confidence in an early peace; which may prove elusive, our fields should now be devoted to the production of cotton and tobacco, instead of grain and live stock and other articles ne- ceasary for the subsistence of the people and army, the oonsequences may prove serious, if not disastrous, especially should this Present season prove as unfavorable as the last.” Here we have the key to the late bread riots at Richmond, Petersburg, Atlanta and other places in the impoverished South. Everything else, therefore, must be sacrificed by farmers and planters to the impe- rious necessity of subsistence, or famine may seal the fate of the Southern confederacy. But this rebel “confidence in an early peace:”” how bas it been created? The intercepted let- ters from the rebél mail bag—extracts of which we published yesterday—are full of this idea of an “early peace.” One writer, for instance, says that after some more bloody battles, soon to come off, “then blessed peace, so unexpect- edly deldyed, will finally dawn upon us. If a victorious peace, we sha certainly have cause for rejoicing.” But peace is his great object— victorious or defeated—and he believes that this campaign will secure peace. Another rebel soldier says,“The general opinion is that the war will certainly end this year. God grant it may; for it has almost desolated our once happy country.” Still another rebel soldier, rom Lee’s army, says:—“We look for an early and that is all the cry at this te.” i the cry.” Thie is @ very important fact. Peace tall the ry” In the rebel arp How sot Un- doubtedly it is the last desperate trick of the rebel leaders to hold their exhausted, half- starved ahd disheartened soldiers to their guns | a few. months longer, Ja the hope of Micawber, that “something eonfimene up” to save King Davia end Company. Wheat next? Davis, in tts ‘aforesaid address,’ says “at no previous period of the war have our forces been so numerous; so well organized and 80. thoroughly disciplined, armed and equipped as at present.” He might have said, too, that in accomplishing all the confede- racy has been drained of its and)its supplies, and that everything depends upon army, inasmuch as we have ao reserves of young men or old men from which to raise an- other. But, this rebel ermy, and the people from whom it is drawn, also the iflea that with proper energy ‘they may conquer the pagce of an independent Southern confederacy in this campaign. Vicksburg; Port Hudson and Charleston have become powerful words of encouragement to this end. Accord- ingly, there is a degree of activity inthe several grand detachments of this rebel army which we have never seen before. In the East they are evidently moving for the recapture of Norfolk, Newbern and the whole North Carolina coast; in the West they are very active all reund the army of General Rosecrahs; in the Southwest, while vigorously defending Vicksburg and Port Hudson, they are gathering large bodies of troops within a convenient distance of New Orleans, as if meditating a desperate attempt to recover that important city. In a word, the forces, the resources and the fortunes of the rebellion are staked upon the present campaign, as completely as were the fortunes of Napoleon stake@upon the battle of Waterloo. It is equally evident that the gov- ernment is fully convinced that it has the game in its hands; that President Lincoln believes he has soldiers enough and sailors enough to do the great work before them, or surely he would have taken some active steps cre this for rein- forcements through the Conscription act. We believe, too, that if Gen. Hooker, Gen. Rose- crans and Gen. Grant are not crippled or em- barrassed by stupid orders from the War Office, we shall soon bave the satisfaction to know, beyond a doubt, that the whole shaky fabric of the rebellion is tumbling to the ground. Our only weak point is Washington. It has been from the beginning. And in this weakness at Washington lies the only danger we have to” fear. Hoping, however, that henceforward President Lineoln will enferce fair play to our generals in the field, we admonish him that even the Jews of Wall street anticipate the most glorious results from our impending military operations. Jury. Davis’ Last APreaL ror SuPPLIEs— The address which we published yesterday from Jefferson Davis to the people of the Southern States seems to be neither more nor less than a supreme effort to keep up the rebel confederacy for a little while longer. It ap- peals to the ‘cultivators of the soil to abandon all selfish views in regard to the creps—to plant no cottom or tobacco, but to devote their lands exclusively to the raising of food for man and fodder for cattle. It establishes the truth of information derived from other quarters, that the railroads in the eonfederacy have been so tasked for the two years of the rebellion in moving troops and supplies that their efficiency is now impaired to such an extent that the sol- diers have had to be placed on half rations. And, more important than aught else, it gives form and consistency to the revelations made in the intercepted rebel correspondence, as to the determination on the part of the Confede- rate government to stake their fortunes on the issues of the spring and summer campaign, and to make the coming battles the most terrible and decisive of the war. We do hope that our military authorities at Washington will take note of this, and gratify the rebels in their hu- mane resolve upon decisive hattles, taking care, however, that the results shail be such as will tend to the speedy reintegration of the republic. Exotmm Nevrnautf— Wear 1s Ixt—Fitting out Alabamas and other pirates to prey upon ‘our commerce, and furnishing the rebels with sink our iron-clads, important Points Demonstrated by the Recent Attack at Charieston. _ Now that the news of the recent attack upon this rebel stronghold has been digested, the questions which naturally suggest themselves are:—First, what light has the affair thrown | | upon the utility of the new engines of warfare | which mechanical science has recently brought forth? Second, have any of the well matured axioms of military and mechanical science been overthrown? Third, whet useful lessons may be drawn from this conflict relative to the vital subjectof seacoast defence? The iron-clads of the Monitor type, although exposed to the heaviest cannonade at short range which earth has ever witnessed—a cannonade which, from rapidity of fire and power of ord- nance employed, surpasses that.of the memor- able bombardment of Sebastopol—passed this fiery ordeal with comparatively but little damage. Indeed, none of them were injured to an extent which a few days wark cannot com- pletely repair. Even the far-famed Whitworth balls, which have time and again pierced the armor of the gigantio Warrior, did not pene: trate them. The only casualties which 0o- curred were caused by the bolts which were -broken in the pilothouse of the Nahant; and this from a manifest oversight in not covering the belt heads with the sheet iron guards, with which most of the Monitor fleet are provided. | So thoroughly has the designer of these re- markable vessels comprehended the necessary qualities in armor to resist the onormous dynamic effect of the impact of a cannon ball of great weight and velocity, that, in order to render the side armor of our iron-clads. abso- lutely impenetrable to the most powerful ordnance which may be"made, either here or in Europe, it is simply necessary to enlarge’ the proportions—the principle, even to the most minute detail, now being thoroughly estab- lished. The armor of the Monitor fleet now afloat, and which has not yet been penetrated, con- sists, as is well known, of five one-inch plates, fastened in a peculiar manner to a very thick oak backing; now the armor of the new Moni- tor fleet, at present about two-thirds completed, consists of nine inches of iron, with an oak back- ing nearly three feet in thickness, it is fair to premise that nothing but a.gun exceeding in wer any yet brought forth can penetrate this jie Again, the large Monitors of the Dicta- tor and Puritan type have grmor of ten and ong half inches of iron, backed with about forty- eight inches of oak. This, combined with the vast speed, from the enormous power with which these vessels are supplied, they will pos- gees, renders them beyond all comparison the most formidable war vessels in the world. The maxim that no amount of fire from fixed fortifications can prevent the passage of steam ‘yeesels-of-war throngh an unobstructed chanzel has received @ marked confirmation from this engagement. It is patent to every one that bad it not been forthe obstructions in the channel the fate of Charleston would have been sealed. No amount of fire from the forts could have prevented the passage of the iron-clad fleet. yoeees this fact, it necessarily follows that the only way of meeting an enemy provided with iron-clad vessels is by an equal number of still more formidable than be brings against you. Let wa-yraat exam- ‘Ge, and wot plave our trust in for the protection of our principal harbors, such as New Yerk; when the humiliating expedient of obstructions is of doubtful utility. Can any one contemplate, without feelings of deep morti- fication the blocking up of the harbor of our city, except by floating impregnable defences capable of annihilating an enemy so audacious as to attempt an attack? It is a useful lezson, and we hope foreign nations may profit by it; for it is certain that should they aseail our cities, with their approaches defended by Moni- tors armed with ordnance with which the genius of our engineers is about to provide us, they will not only be repulsed, but destroyed. The failure of the immense English fleet te attack Cronstadt during the Jate Russian war has often been adduced to prove the efficiency of casemated forts; but it is clear to all unpre- judiced scientific men that it was not the fear of the forts alone which prevented the attack, but the certainty that should the attempt be made, and the fleet badly handled by the forts, the Russian fleet would come out, and, while the English were in a crippled condition, com- plete their defeat. It is upon our floating de- fences we must chiefly rely to repel invasion; and if we avail ourselves of our mechanical resources an invasion will never be attempted. In the engagement at Charleston three types of iron-clads were represented—the Monitors, with their laminated armor; the Keokuk, with her sandwich armor of wood and which it may be safely said will not be re ; and the high sided Ironsides, with her solid plate. The Monitors, as we have just stated, stood the heavy fire with but comparatively little da- mage; the armor of the Keokuk was pierced through and through, as-if it bad been paste- board, and the armor of the Ironsides, though not penetrated, behaved as solid slabs always do when struck by a heavy shot—it was cracked, and another shot of like power striking in the same place would have passed through. It must be borne in mind that the Ironsides was at about twice the distance that the Moni- tors were. The unprofessional observer, looking at the solid plates of the Ironsides, as they were bent in but little, while the laminated plates of the Mapiters were bent considerably, would sup- pese that the former had been the least dam- aged of the two; but the facility with which the laminated plates will bend without destreying their integrity, and thus by degrees absorb the vis viva of the shot, while the solid slabs, from their unyielding nature, @re always cracked and the integrity of the place struck destroyed, dis- sipates this erroneous idea. So it is clear that the most valuable lessor taught by this bril- Mant engagement is a warning to the govern- ment not to waste the labor and money of the country on iron-clads of doubtfy efficiency. The Keokuk and Galena are warnings which must not be disregarded; and we take this eoca- sion to remark, that if the Navy Department do not desire to witness a similar catastrophe they should at once cause wooden backing to be Placed behind the armor of the iron-clad Onon- daga, which at present is ne penetrable as that of the poor Keokuk. Although, at so great a distance from the —_ of the ict, it may be rash to express inion, we cannot help our con- vio that had the entire iron-clad fleet paid its attention entirely to Fort Sumter it would inevitably have been breached and rendered untenable. z Whitworth guns and steel-pointed shot to try $0 . ‘The Curremcy Question. The currency question is one of great import- ance to the trade and commerce of the nation. We have witnessed the most violent fluctuations in our standard of value within the last few weeks, carrying in their train a most uneasy feeling and making our mercantile community sufferto nosmallamount, This must continue if Mr. Chage will not come to the rescue and give us a standard of value less susceptible to these variations. The government has it in its power, with the vast resources open to it, to bring about a better state.of things. Never, perhaps, in the history of the world haa any nation been better able to support a war than we are. We should use these resources to the best advantage possible. We would most earnestly enjoin on our finance minister to take steps tending to bring the currency to a specie staidard. We have aeen enough already of the baneful effects which a depreciated currency has on the energies of the people. Trade ina great degree is now para- lyzed, merchants being incapable of judging how their transactions may tura out with an ever-varying currency as their standard of value. In California we do not hear of these fre- quent ups and downs in the prices of commodi- ties, and, although @ State bearing her share of the burthens of this war, there are no indica- tions of any unusual commotion in her trade, but it is carried on with its usual safety, and she is growing stronger every day. She can, therefore, lend her aid to the suppression of this rebellion with comparative ease, her energies being not in the least disturbed, but allowed to have their way. California has a standard of value which never varies to any great extent. Our currency is there quoted at a discount. To bear the burthens of war a nation must be allowed full scope to its energies and allowed @ continual application to labor of alleorta. We can look into history and there see that a currency liable to any violent fluctuations in its value is a great impediment to a sit asc application to industry. The financial condition of Great Britain pa 1797 to 1814 should be highly instructive to us In our present calamity, The Bank of England had, in 1797, £11,000,000 of her paper afloat, and in her vaults the usual amount of specie dcemed noocessary for the usual redemption of her paper, and was quite strong. Rumors of invasion in this year spread, and every one bh came alarmed. A run on the haok was #~ consequence, The bank had to stop Specie fies ments, The burtheps of War ware more severely felt by her om account of her means being employed on the Continent, and, consequently,, very little, if any, finding its way back again. The paper afloat of the bauk was not‘increased to any extent for three years after its suspen- sion, and during that time its value was not im- paired, but circulated freely on a par with gold. 1s Bapeen ne aetna ere issue, and the depreciation of its paper, of course, followed, until the amount afloat reached about. £29,000,000 in 1614. ‘The bank currency, during this space of time, experienced many fluctuations, and, although its increase was gra- dual, could not fiad employment enough for that increase to sustain it. Notwithstanding this: moderate use of its paper currency, the fluctuations in prices occasioned many disasters. Many persons were ruined during this period, and the price of labor being always fluctuating was damaging to the increase of wealth. Labor is tl foundation of atl wealth, and that where labor can be carried om with leas ilities to interruption is certain to make the most progress. An overissue of pa- per money is a great interruption to labor of all kinds. In France, during the republic of Robespierre, her finances were managed with the most reckless disregard to her prosperity. ‘The assignats soon became worthless, and the people who held them lost their sons of years with them. Napoleon followed, and he neat means to resume specie payment; and never during his reign would he allow any other standard of va- lue. He was enabled to continue those ex- hausting wars which marked his times princi- pally By maintaining this standard of value and by imposing contributions om conquered na- tions. At the restoration of the Bourbons, in 1814, the total debt of France was only $600,000,000, The currency of the rebel States is fast be- coming worthless, and when the day of its utter worthlessness arrives the rebels will be com- pelled by the force of circumstances to go to the wall. A Mats Cause ov Tae Dereat at Cuanies- tox.—A principal cause of the defeat of our navy in Charleston harbor is that fanaticism about the negro of which Mr. Chase gave so remarkable a sample in his recent letter ad- dressed to the meeting in Union square to cele- brate a victory which was not achieved, but might long since have been but for the perni- cious counsels of the Secretary of the Treasu- ry. That letter is nigger at the beginning, nigger in the middle and nigger at the close. It is all nigger. The white man is completely ignored. While Mr. Seward is the conservative influ- ence in the Cabinet—the salt that saves it from utter putrefaction—Mr. Chase is the radi- cal and revolutionary influence which has made shipwreck of the Union cause in South Carolina and has prevented success everywhere. Under the direction and control of this influence, the whole time and energies of our generals ever since they landed at Port Royal have been de- voted to the realization of the vain dream of elevating the negro to « social and political equality with the Caucasian race. Every sane man who knew anything of the subject knew that every such attempt must fail; for what was it but an absurd effort to reverse nature’s laws? As well might it be attempted to elevate an intelligent monkey as am intelligent contra- band to the level of the white population of this country; as well try to make a donkey equal to an Arabian horse. Thus, instead of “moving on the enemy’s works” at Charleston before the enemy had time to make them impreg- nable, precious days, weeks, months, and years have been wasted in what is as impossible as to ebange the skin of the black to white or his curled wool to straight hair. How could suo- cess attend our arms under such conditions? Negroes themselves do. not desire to be placed in the anomalous and ridiculous position which the visionaries are demanding for them. They know that they would be like so many fish.out of water. They would not be in their element. All they wanted and now want is to be let alone. They and their children will never ccase to curse the abolitionists. Took how tlie Florida nigger expedition has wrotch- city failed. The negroes will not Gght for equality with white men. Kven in Massacha- eotts a black regiment cannot be drumnt! all the promises of Governor Audrd; In faot, the whole theory of the ¢ natics about the negro bas cempletely b_;| down, and never has there been such a of any administration in the practical wa of its distinetive principlee. Yet in the of overwhelming facts the radical leadGa| the Cabinet ‘and outside of it persist in fh ing out their doctrines, evon to the destr,;' of our army and navy, and the total an disruption and overthrow of the republill} less the ballot box puta a stop to the career. M Tax Reporren Carrone or tae-Crry o "| co.—The report which reached us yesterd way of Mobile, of the fall of the Mexican J tal, does not meet with credence aa) Even the French organ in this city throws ¢? upon it. The event is of course possible, the position of the French army on the 2: March into account. The city of Mexico twenty-eight leagues from Puebla, French then were, and they might have o that place and advanced upon and takes py sion of the capital sufficiently promptly despatch to reach Vera Craz and be Mobile in the time indicated. But this is ali possibility, and only to be accounted for br) fact of the Mexicans being seized with a gee] panic and abandoning all their works.” know that between Puebla and the capital had about fifty thousand men posted eo (1 annoy the enemy and obstruct their p every step of the road. With the success had previously attended their efforts in this it is not likely that they let the French trav the intervening distance between the two ¢- with the ease which the correctness of the », ment would assume. We are therefore just- in believing that it bas about as much fou.) tion as the similar rumor which came ) through Mobile a week ago. Tae Organs or THE RKBBELION AND Coyngericut E.gzomon.—We publish ao from the Richmond Dispatch on the Cont cut election, showing how deeply disappoitg are rebel hopes by the result. In commens} upon the event at the time we regended it! as a teiumph to republicanism, but as a to te smpatenionaits Stewibe eet The Richmond journal be Fue rebele’ expectation of 90 8 peace is wigul b tokdcad eeihl wailing in the capital of Rebeldom. With " losophic equanimity the editor of the Dis; to their fate, upon the principle that is is best in the long run.” But the mass of | rebels wilt not be likely to swallow this but now; and it is in their own power to: before midsummer if they will lay dowa arms, cast off. the: yoke of Jeff. Davis & | and submit to the authority:of the federal ¢! ¥ 4 it ft in which role Mme. Medori bas actileved so ¢ success. Mazzoleni, as Pollio, has rendered that " Fy rolem most prominent one, His maguificent voice ¢} unsurpassed acting make of tlss.role, whieh, e ‘] thing, s sBirked by first tenors; am unuseal Biaehi, as Oroveso, is eminently euccessful. In fact, opera as sung by these artiste brg proved the success of the season. We must not omit noticing Bulzer's admirable rendition of the role of Adelgisa, adds to the attraction of the opera. On Monday Signor Mazzoleu! takes bis benedt, and t#) season closes. We hear that after # short intermission - will open again with unusual eclat. We wish to call attention to the benefit of Mazzolen|, who deserves an mevse house. We feel assured that the favorite will tain on that occasion substantial proofs of the great, larity he has achieved in New York. Mme. la's numerous admirers will be pleased to bear that st lends the aid of her talent to Siguor Mazzoleni oa the of casion of his benefit, t Fox's Oxp Bowsny ‘Tuxarme.—A very attractive bill i. Offered at this theatre to-night for the benefit of Mid Rachel Denvil. Four entertaining picces have been a lected, the first of them béing the stirring drama o «4 Agnes do Vere.” The whole strength «f the compan! ie engaged, and there is no doubt that Miss Denvil have a fuil house. Taw Freoats Rex pr Fras will de launched from the yards of Mr. Wm. H. Webb, foot of Sixth street, to- mor row (Saturday), 18th, at half-past nine o'clock. Lawurenant Gexerat. Wherein Scorr bas consentes a preside at the Union meeting to be held in Madison sjuare The Thorndike Will Case Decided. | Bostox, April 16, 1863. + drew Thorndike, who died in 1854, thus sustaining the legality of his marriage with » German woman, with whom he entered into a civil contract of marriage at Frankfort-on-the-Maine beforo the Unite States Consul, and with whom he lived as his wife the ghildren ne his up to the time of his death, Israel Popa oe ern of negara tir THE NAVY. The petty officers and seamen attached to the siiling | frigate Sabine afe very anxious to get out of her and serve ina steamer. They say it le neither an honor nor ‘a credit to them to stay on board of her while thoir shi mates are gaining glory and prize money in an acti service. ‘They believe, and justly, too, that sailing vessels are a useless expense to the government, and that they conld do better by dismantling ber and laying her up, and put ‘The Massachusetts Supreme Court has decided the Thorndike will case in favor of the two childres of An!