The New York Herald Newspaper, June 6, 1863, Page 6

6 NEW YORK HERALD. JAMES GORDON BENNETT, EDITOR AND PKOPRIELOR. <n OF FULTON AND NASSAU 8TS, O7FIWE N. W. OF ) Agvauea, Monoy sent vy mail will be Nous but bawk bills current io eouder copy for threo months. itdiesset ty names of subsoribers, Av extra copy will be sent to every club of os, to one addvess, one year, $85, and at same price, An extra copy will bo These rates make (he Wexaur icalion tx the country, ,evory Wednesday, at Five conts or annum to any part of Great Britain, \ asy part of the Continent, both to include postage. The Cawrornta Eprmoy, on the 3d, 13th and 28d of eed month : NEW YORK HERALD, SATURDAY, JUNE 6, 1863:7kI PLE SHEET. | ranging plans for a thorough organization through- out the State. Mayor Opdyke was chosen otsair- man and Thomas B. Carroll secretary, After adopting resolutions relative to organization, &c., the committee were entertained at dinner by the Union League Club, when speeches were made by Judge Murray Hoffman, Judge Endress, of Livings- ton county; Daniel H. Cole, of Orleans county, and Adolphus Morse, of Monroe county. At the meeting of the Grand Lodge of Masons yesterday the following officers wero daly elected and installed:—Grand Master, Clinton F, Paige; | Deputy Grand Master, J. B. Yates Somers; Senior | Grand Warden, Stephen H. Johnson; Junior‘Grand Warden, James Gibson, The persons who offi- j ciated last year as Grand Treasurer, Secretary, | Chaplains, Pursuivant and Lecturer were also re- elected. ‘The most important business transacted was tho adoption of a report reversing tho de- cision of Past Grand Master Crane in relation to the right of non-residents to hold the office of mas- ters in lodges. The rebel State Convention of Tennessee, for the nomination of candidates for Governor and members of Congress, on @ general ticket, is call- ed to meet at Winchester, Franklin county, on the 17th instant. There are a number of aspirants for the office of travelling exeoutive, among whom are Isham G. Harris, the present Governor; An- drew Ewing, Richard McCann and Samuel Ander- son. Where the seat of government will be lo- cated we have not learned. By the amended internal revenue law a much at Six cents per copy, or 83 per annum, No. 156 AMUSEMENTS THIS EVENING NIBL® S GARDEN, Broadway.—Tax Doxe’s Morro. WALLAOK’S THEATRE, Broadway.—Marnrxp Lire. WINTER GARDEN, Broadway.—Dxgaoran oF Steinmare THEATRE, Broadway,—Lapy or tm In Baa. LAURA KEEN Bios: Diana NEW BOWERY THEATRE, Bowery.—Dvxr’s SigNat— JAQK 5 THe LaD—Hannsone Jack—RENDEZVOUS. BOWERY THEATRE, Bowery.—Tur Due’s Drvicr= Fursky Cossikn—Inevann As It Is, 'S AMERICAN MUSSUM, Broadway. —Gew, BARN Tou Ti any Wirk, Com. Nort avd Minniz Wannan, 2 all hours. Faint Heart~'Twas I. Afternoon and Woning , MINSTRELS, Mechanics’ Hall, 472 Broad. oPIAN SONGS, Bontesquus, Dancus, 40.—[ am WOOD'S MINSTREL HALL, 514 Broadwav.—Ermiortag £cNGs, Dinges, &0.—RUNNING THE BLOCKADE, THE NZW IDEA. 48% Broadway.—Sonas. BoRuxsqurs, Patixrs, tc.—Tue Unrontuxate. AMERICAN THEATRE, No, 44 Broadwny.—Baucers, Pastouimzs, Bouresqums. &c. UM OF ANATOMY, 618 Broadwav.<CusrositiEs, ano Lrerorgs, front? A. M. till 10 P.M. Woo HOOLEY'S OPERA HOUSE, Brooklyn.—Ermortax Fones, Dances, Burunsauxs, &¢. TRIPLE New York, Saturday, Jane SHEET. THE NW GEOGRAPHICAL FEAT. All scientific persons, all geographical sta- dents, in fact all classes, are greatly interested by the discovery of the sources of the river Nile. Some days since we published a map of the newly discovered regions. We will produce in the Wenkty Heratp—to appear on Satur- day—this map, improved by data received by the last steamer, the Persia; also additional details, which will appear with the interesting accounts we have already published of this great discovery. THE SITUATION. A despatch fronr the rear of Vicksburg, on the Bist ult., states that the bombardment of: the city continued with great rapidity from midnight til daylight, doing considerable damage. Twelve cebels who were attempting to run oar pickets and get into Vicksburg, and having 200,000 per- cussion caps iu their possession, were captured on Friday morning at daylight. Various conflicting rumors as to the movements or Gen. Joc Johnston are afloat. One is, that he has advanced on Jackson, but not in very large force; another, that he is moving on Memphis. Lieutenant Commanding Geo. M. Bache, of the gunbost Cincinnati, has forwarded to the Navy Department a detailed account of the sinking of that vessel. He says that until a shot went through the magazine and drowned it, her fire was most effective; but the rebel batteries got her in full range and hit her at almost every fire, until she went down in three fathoms of water, with her colors nailed to a stump of one of her mast—sall that was not shot away. From Nashville we learn the result of the late rebel attacks on Franklin and Triune, Tennessee. At Franklin, Colonel Baird, commanding the garri- son, was attacked by twelve hundred rebel cavairy on Thursday, who drove his forces back into their dntrenchments. They rallied, however, and re- pulsed the enemy, with heavy loss to the latter.” At the same tine an attack was made upon the forces at Triune. They were repulsed with a loss ti {wo hundred men, four hundred horses and a lot of camp aud garrison equipage. Nonew movement has taken place in the army on the Rappahannock. Our voluminous corres- pondence from our reporters in the army, which we publish in another column, is highly inte- resting. Admiral Foote has been ordered to supersede Admiral Dupont in command of the Monitor fleet at Charleston. This change may indicate another move on that city, as it is said that the Navy De- partment was disappointed that Dupont did not re- new the attack after the last ansuccessful at- tempt. i} MISCELLANEOUS NEWS. Tho steamship Northern Light, from Aspinwall, arrived at this port yesterday. She brings us nows from Mexico, by way of Acapulco, to the effect that the French had been worsted, and that Comonfort had succeeded in Joining his forces to those of Ortega. This entirely contradicts pre- vious advices; but as there is no exact data to go upon we need not jump at conclusions, but pa- tiontly await another arrival from Mexico, which will settle the question definitively. The letters of our Panama correspondent will be found highly interesting. We have dates from Bermuda to the 2th of May. The Royal Gazette of that date contains the following important notice:— Tho British steamer Sirius, Captain Pittman, arrived At Nassau on (he 12th tostant from Liverpool, Engiand. Wheu approrching the entrance to the port she was chased and Ored at by the federal gunboat Rhode Isiand, Captain Trencbard, until sbe arrived within the ed limita of tbe shore, when the federal left her, ord (with pormiceion) ‘of Hog Island, and saluted ritish fag with twenty-one guns, which compliment ens returned from the barracks by the guns of the Royal Artillery, At wix P.M. tho Rhode Istand steamed off in a northorly direction, If this ve reliable, another ‘peck o' trouble’ may be browed out of it. The State Executive Committee of the State Loyal National Leagnes met at the Fifth Avenue Uvrel ou Thursday evening, for the purpose of ar- larger sum will be received for licenses from wholesale dealers'than formerly. The former law provided that all wholesale dealers should pay a license of fifty dollars. Now they pay according to the amount of their sales, and the dry goods firms will pay from fifty to one thousand dollars. Rev, 8, T. Hunting, chaplain of the Twenty-sev- enth Michigan regiment, has been “‘ dishonorably dismissed the service of the United States” by Gen. Burnside, he “ having strangely forgotten his clerical character, as well as his duties as an offi- cer, by countenancing in his regiment resistance to a lawful order of @ superior officer, and having written a letter to a civilian in which he desires him to appeal to popular assemblages to support his presumptive and mutinous spirit.” The McConnellsburg (Pennsylvania) Democrat (copperhead) has received notice from headquar-. ters to keep out treasonable articles, or it will be liable to suspension. The Chicago Tribune recommends President Lincoln to take the field at the head of the Army of the Potoma, A man named Daniel Reardon was arrested in Rochester on Wednesday, charged with resisting the enrolling officer. He was sent to prison to await an examination. If found guilty, he will be fined two hundred dollars and imprisoned two years. Canada is just now convulsed by the elections for members to the new Parliament. The different parties are classified as reformers, liberals, con- servatives, clear grits and corruptionists. The democracy of Ohio are not s unit in the nomination of Vallandigham for Governor. In coun- ties where the war democrats are in the majority the copperheads willsend independent sets of delegates to the State Convention, and a lively tinie is anticipated. Telegraphic wires are to be laid at once from the State House, Boston, to the forts in the har- bor. The shipments of cog! from Schuylkill county, Pennsylvania, last week, exceeded the amount shipped during the corresponding week last year twenty-one thousand three hundred tons. Those dealers in coal who are attempting to bull the market, and hold on for a rise, will be likely to have.some losses to foot up before the season is over, ‘The stock market was very dull and inanimate yester- day; prices were better at the opening, bat lower after- wards. Gold fluctuated betweon 146% sud 1453¢, and closed at five P. M. at about 145%. Exchange was 1503, 8100. Money was easy enough to good borrowers with adequate ovilateral; call loans 6 aT per cont. ‘Tho unsatisfactory news from Vicksburg, and the consequent rise in cotton, had the effect, this ‘week, of stimulating the demand for desirable styles 0f cotton goods and ocoasioning « slight improvement in prices, Heavy brown she cloged 98 25340. 9 260., a8 againat 22}(c. @ 213Z6. last Soe ipa most other standard cotton fabrics were quoted firmer. As an auction salo yesterday, Ozark heavy brown sheet- ings were dieppeed of at 25%c., cash; Amoskeag bleach- 0d, A, 4-4, at 25c.; do., B., do. do., 23¢.; Lawrence, A., 4-4, 20c, = 20%¢.; do., B., 9-8, at 2c. In the woollen tine the demand ran mainly on fancy light colored cassi- meres, which were selling advantageously, while other kinds were quiet and depressed. The inquiry for really desirable styles of foreign dress goods was fair, and at very fair prices, both in the regular trade and through the auction room. The cotton market continued active yesterday, with middling very firm at 5530. @ 56c. Flour and wheat ‘were less inquired for, and were tending downward. Corn opened actively, but was dull and heavy at the close. The domand for the principal kinds of provisions was fair, at uniform rates. Sugars, rice, molasses and refined Petrojoum were active and advancing. Hides wore in more roquest. The inquiry for hops, sed, tallow and whiskey was moderate. Other articles wore without es- sential change. In the freight market there was more Ormness, but less activity. Tas Recent Miurrary Invasions or Const tutional Ricuts—Tuem Orta anp Opsect.— Some weeks since we expressed our belief that the restrictions imposed on the telegraph in re- gard to the press had no sympdthy or counte- nance from the President. The opinion had searcely been uttered when Mr. Lincoln took an opportunity to confirm it by setting aside the regulations of the War Office and commu- nicating directly to the newspapers the contents of an important despatch which had reached him from Vicksburg. When the news of the arrest and deportation of Mr. Vallandigham spread alarm and indignation throughout the community, our impression was that the Presi- dent had not been apprised of these highhanded proceedings until they had actually been car- tied out. Such subsequently proved to be the fact, and it is only to be regretted that Mr. Lin- coln did not follow his first impulses, and instead of modifying the sentence of the court martial, set it aside altogether. Now, again; we find that the military order of Burnside, suppressing @ iggue of the Chicago Times, was issu proved this by promptly rev. king the measure, thus administering @ well merited and stinging rebuke to its authors. It is a mistake to at- tribute to General Burnside the responsibility of the origination of these orders. He was simply in regard to them a willing instrument in the hands of others, in this exhibiting the same want of firmness and self-respect which induced him to take upon himself the blame of his disastrous failure at Fredericks. burg in order to screen his superiors of the War Department. The authors of all these tyranni- cal military edicts are not always the generals whose names are appended to them, but that | pair of third rate politicians—Stanton and | Chase—who are wielding the whole military | power of the government for the advancement of their own personal interests. Mr. Lincoln | deserves credit for the promptness with which | ; he bas disavowed the acts of these men. When +| will he awaken to the consciousness of the fact that the only way in which his administration | can recover the confidence of the country is | by disavowing the men as well as the measures? | The Sigus of the Times. be overrun and compelled to eubmit to the | There are many and great indications of the majority, to justice and to common sense. Ex- Cominencement of a powerful reaction in the | perience has shown that negroes are only fit to ; Public mind on the subject of the war and the | be servants, Nature has not fitted them to rule. | questions out of which it arose, as well as from There is, therefore, a reaction, aud the theory | their military and political conduct of the war. At the presext moment all. is confusion, be- cause the popular sentiment is ina transition state; but order will soon be evolved out of po- litical chaos, and the counter-revolution will stand triumphant and acknowledged by all. The excitement and indignation produced throughout the land by General Burnside’s high- handed and illegal proceedings against Mr. Vallandigham, and his silly course in suppregs- ing the Chicago 7imes, because it commented severely upon those proceedings, are among the unmistakable evidences of the revulsion that is taking place in the public mind. Republicans as well as democrats have protested against such measures, as not only unconstitutional, but extremely impolitic and dangerous. The Le- gislature of Illinois, by a vote of forty-seven to thirteen, including twenty republicans, pro- nounced against the military outrage upon the Chicago paper. The President, obeying his own humane instinots and the popular will, is at last compelled to rebuke the Secretary of War and Burnside together by directing the latter to revoke his order overthrowing by mili- tary force the freedom of the press in his de- partment. If Mr. Lincoln would now issue a countermand to the order sending Vallandigham into exile he would wisely crown his concilia- tory policy, and give a mortal blow to the radioals in the Cabinet and out of it, by whose advice so unfortunate a step was taken. It was this “political blunder, worse than a crime,” that developed and brought out the latent popular feeling against the administration at the great meeting of the democracy in this city on Wednesday last—a meeting of thirty thou- sand men, headed by Fernando Wood, and breathing au earnest and unfaltering determi- nation to put a stop to hostilities against the Southern States and to restore the Union, not by the science of war, but the arts of peace. The prolonged exile of Vallandigham will con- tinue to furnish fuel for the flame throughout the whole of the Presidential campaign; and it will be the more effective because it is utterly unjustifiable upon any prinelples known to our constitution and laws, contrary to all prece- dent in our history, and stripped even of the plea of necessity. The ball is now fairly set in motion in this State, and its progress will be irresistible. Any violent opposition to it will only serve to de- monstrate the impetus it has received. If the Regency, instead of getting on the same train, should run a State ticket directly against it next fall, its locomotive and cars would be smashed by the weight and momentum of the locomotive and cars engineered by Fernando Wood; and if the train of the Regency should undertake to move in the same direction on the same track, by starting a little ahead, it would be soon overtaken and driven off the track by the superior speed of the engine called Mozart Hall. M, on the other hand, the Al- bany concern should conclude to follow in the wake of the New York engine, it would be “nowhere” in the race. Its only safe policy, therefore, is to hitch itself to Mozart Hall. If the Regency run @ separate State ticket next fall it may prevent the peace party being suc- ceseful; but it will not only not win itself, but demonstrate that it isin a small minority. In that event the republicans will carry the State elections. But the peace men, being » ma- jority in the democratic party, will claim the right to shape its policy, and for sake of har- mony, and in order to oust the republicans Grae Pi ise Srey her eae for like causes will produce like effects, to say nothing of the influence of the example of the Empire State. The platform of the democracy in the Presidential campaign of 1864 will be peace; and, what is more, the candidate will be elected, no matter who he is, the principle con- trolling all other considerations. The people have lost all faith in the efficacy of the war to restore the Union. They are preparing to try what virtue there isin peace. If Mr. Lincoln should at once cut loose from his Cabinet, and send it adrift before it docs any more mischief to him and the country, he would stand an ex- cellent chance of being re-elected himself. The new President, whatever might have been his opinions or antecedents, will, upon assuming office, be compelled to suspend the operations of the war, proclaim an ar- mistice, and propose a convention of all the States. Both governments have given all constitutional scruples to the wind. The government of the South is as much a despotism as the government of the North. The Southern people would rejoice at such an opportunity as an armistice and a con- vention to enable them to throw off the yoke of Jeff. Davis, who now holds them down by the iron hand of war. State after State at the South will elect delegates to this convention with more zeal than they elected delegates to pasa ordinances of secession. State rights will be vindicated North and South, and the cause of strife and alienation—the slavery question— will be finally settled by a return to the prin- ciples on which the government was founded, and the old fabric will be reconstructed as a white man’s government. Negro slavery will be established more firmly than it ever was be- fore, and North as well as South the whole race will be enslaved or exterminated. All the trouble the country has seen has arisen from emanci, 2. At the time of the Declaration of Independ- ence every colony of the held slaves. At the time of the adi of the constitu. tion, in eleven or twelve years after, overy State, except Massachusetts, was slaveholding, That State was the first to commit the error which has led to such national calamity ; but she could not influence the structure of the con- stitution. In that instrument negro servitude is recognized as lawful, and securities provided for the safety of the institution. But the politi- cal heresy of negro equality—which started in New England—gained ground by degrees, and the people of the Northern States have departed from the fundamental ides of the government, | till at length a party bas arisen and is now in power which claims for the blacks “ liberty, fraternity, equality,” and consequently the amalgamation of the two races by intermar- | riage. For the accomplishment of such an object, not only are the people unwilling to wage war, but they would fight to the death | against it. The white race will never suffer blacks to be on a politieal and social equality with them. They will sooner exterminate | them; and if any States should resiat hey will | the signal failure of the administration, both in | broached by Robespierre aid the other violent extremists and bloodhounds of the French Revo- lution is found to be fallacious by the true touchstone of all new theories—oxperiment. Never bas Great Britain adopted any mea- sure which her wisest statesmen have so much regretted as emancipation in ber West Indian colonies, They find that it has literally ruinod those once flourishing possessions, for the simple reason that the negro in a state of freedom will not work, becomes the slave of vice and re- lapses into the condition of a savage. It was envy of the superiority of the American repub- lic, in consequence of its system of slave labor, that prompted British statesmen to inaugurate @ crusade against it and to encourage the propa- gandism of anti-slavery societies in our midst, in order to drag the Southern States down to the same level as the West Indies, and thus to permanently destroy both North and South. But the result of the reaction in tho United States will be that the abolition leaders will be all banished from the country or hanged, and it will be made a penal offence of the highest magnitude against the dignity of the white race and the white man’s government to agitate the question of negro slavery hereafter, or blaspheme the handiwork of God by assert- ing that a black man is equal to a Celt, a Saxon, a Teuton or any other division of the great Caucasian race. This question being adjusted, and all other matters likely to create trouble in the future, an election will be held North and South to elect a President under the new constitution, and the unity and harmony of the great repub- lie will be restored. The people of the South have as much an interest in tho heritage of its past and in the glory of its future as the people of the North; and if their State rights and institu- tions are only guaranteed against aggression hereafter, what is to prevent their reunion with the Northern States? Nothing whatever. But the people of the North must prove their sin- cerity and good faith by sacrificing the aboli- tionists—the cause of all the misfortunes of the republic, And when all our domestic troubles are set- tled, and there is no further need of the im- mense armies of the North and South, there can be little doubt that new employment will be cut out for them. United under one govern- ment, they will go forth conquering and to con- quer, Their first attentions will be paid to England and to France. To the one for foment- ing the war, and to the other for taking advan- tage of it to crush a free and independent neighboring republic. Mexico will be restored to her stalus. The British flag will be driven out of Canada and from every foot of soil in the New World, Spain will be forced to re- linquish her grasp on Hayti, and Cuba, free from the yoke, will be permitted ‘to shape her own destiny, which will be manifestly that of the United States. With these punishments of European perfidy, and these vindications of the Monroe doctrine, the American government will then stand before the nations of the Old World greater and more glorious than it ever appear- ed before. The Elections in France—Curious Revo- lations in French Politics. Since the advent of Napoleon the Third to the throne of France his career has been bne of uninterrupted success. His lavish expenditure of the funds of the coun- try has produced its ig =a great fm provement of all the industrial resources of the empire : railways, canals and harbors have been constructed, while whole cities have been renovated ; and lastly, but not least, the glory of the imperial reign has been enhanced @ hbundredfold by o great many victories won over the hereditary enemies of Franee, and an alliance with her natural foe—which said al- Manos, the French say, was forced upon perjide Albion by q fear of the great power and prowess of France. These are pleasant reflec. tions for the adherents of Napoleon ; but, as in all things on this mundane sphere, there is another side to the question—a revers de la _me- daille. The amount of treasure squandered by the Emperor is enormous. There must be a limit to his fearful extravagance, and that limit is now near at hand. This looking out merely for to-day, leaving to-morrow to take care of itself, does not suit all classes in France, and those who fear for the future see it already lowering. They are aware that the prodigality of the empire is entailing its consequences. The annual expenses of the country have in- creased from one thousasd four hundred and forty-three millions of francs in 1851 to two thousand two hundred millions in 1861, show- ing an increase of seven burdred and fifty mil- lions in ten years. New taxes to the amount of seventy-four millions were laid on in the year 1862, while the budget of 1864 shows an increase of forty-four millions more than that of 1863. In France such an increase is most signifi- cant. Her resources are not elastic—are not developing with a rapidity in proportion with the augmentation of her expenditure. The people feel this, and foresee a fearful day of reckoning, and hence the government is daily becoming more and more unpopular. The people assert that the treasure of the country is spent in pomp, and luxury, and barren wars, while they are starving, and they complain of this bitterly. Of course all this lends addi- tional power and force to the opposition, and hence the fears of Napoleon and his adherents wore awakened as regards the elections which have just taken place in France. With the means of strong and in most cases effectual repression in its power, the French government will have the greater part of its candidates elected; but still there is reason to believe that some of the opposition candidates will succeed in obtaining a majority of votes. Any addition thus made to the opposition already existing in the French Chambers will greatly cripple the vernment. BeNapoleon, and Persigny, his Minister, have been much gormented by the candidature of M. Thiers, the celebrated historian, who appeared before the people as the representative of the Orleans party. We give in another column a letter from Persigny upon the subject, which betrays the feelings of his master towards Thiers. As a document to take its place in his- | tory, the letter is important. Nothing did more to secure the advent of Louis Napoleon to power than the works of M. Thiers. His history of the Consulate and Empire revived the veneration felt in France for the name of | Napoleon, caused Louis Philippe to send to St. Helena for the remains of the great Em- ,peror, and prepared the way for that popular excitement which brpaght Louis Napoleon to the Presidency of Framce. Now wo 0° M Thiers coming out as the candidate of the Orleanists, and we find Napoleon III. attacking violently thé man to whom, perhaps, more than any other, he owes his throne. That M. Thiers should come forward asthe avowed candidate of the Orleanists proves their vast increase of Another eminent member of the old Parlia- mentary assemblies, ell known liberal —M. Odilion Barrot—has ine forward in opposi- tion to the government candidate at Strasbourg. He announces his intention, if elected, of op- posing with all his influence the dangerous in- discretions of unchecked authority. He ad- verta to the growing expenditure of the govern- ment as a fearful evil, and in fact plainly states that shoul he be elected he will do all in his power to exercise a certain oontrol over the agents of the government, Napoleon is aware that his power has but a slender hold upon the ever disloyal French people. He weil knows that his actions will not bear discussion, and he will doubtless do all in his power to defeat the opposition candidates. But atill, even in France, there are limits to power, and should too many of them be elected the existence of the empire would surely be jeopardized. We shall await with interest the results of the etoctfons in France. The Pacific Ratlirond—General Fremo New Command. We have had some mysterious reports from Washington lately of an intended appointment of General Fremont to a new command of great importance, including a mighty army of contra- bands. From the best’ authority we are en- abled to say that this appointment has been made; that General Fremont’s new command is that of President of the “Union Pacific Railroad Company;” that his line of operations wilt ex- tend from Kansas to the Pacific Ocean, the largest department of any of our generals in the fleld; that his headquarters will be in New York; that the General has applied to the Pre- sident of the United States for authority to en- rol and employ in the service of the company & large force of working contrabands, and that Mr. Lincoln bas answered that, in behalf of the great enterprise in hand, the company shall have as many contrabands as their treasurer can find money to pay. The law providing for the Pacific Railroad was passed at the first session of the last Congress. It comprehended the co-operation of several companies, and gave them very liberal grants and franchises to induce them to enter at once upon the great work. On account of the dis- turbing influences of the rebellion, however, nothing bas been done until very recently to- wards a general organization for breaking ground. Two of the minor companies em- braced in the grants of Congress had sufficient stamina to accept the muniticent offers made them, and to proceed to business. These were the “Central Railroad,” of California, and the “Leavenworth, Pawnee and Western Railroad,” of Kansas, both of which diligently and suc- cessfully undertook to get their affairs into practical working condition. The California company, at the western terminus of the great line, have comparatively but a short road to construct. It is already well under way, and will soon be completed from local contribu- tions, The Kansas company, at the eastern terminus of the great line, with their rich en- dowments from the government, have found in New York capitalists with sufficient fore- sight and enterprise to purchase their fran- chise and to raise the necessary funds to in- sure the speedy completion of the road. The firet steps of the new company have been to change the name of their road to the “Union Pacific Railway, Eastern Division,” and to elect General Fremont President. This is done at a very opportune moment for the General, who, baving sold out his Mariposa gold mines, and having thereby some eight or ten millions of capital in his hands, will find in the “Union Pacific Railway” a splendid op- portunity for a profitable employment of his money, his topographical knowledge and inti- mate experience of all the vast regions of plains and mountains to be traversed by the road. Twenty years ago, from his first explo- rations of these regions, as a young lieutenant of the army engineers, the Heratp contributed its share to giving him his title of the “Path- finder,” and the line of this great continental railway is his proper department, contrabands and all. The chief credit of the negotiations which have resulted in putting the Kansas road into the hands of moneyed men, and in thus secur- ing the building of the entire line to the Pacific, seems to be due to Samuel Hallett, of this city, one of our most enterprising and sagacious bankers in great undertakings of this character. His firm are to be the bankers of the company, and the company thus secures an influential European correspondence, extending to the capitalists of Paris and Madrid. It was through Mr. Hallett that the powerful Senor Salamanca was induced to advance the funds for the con- struction of the Atlantic and Great Western Railroad, a work which, from the rapid pro- gress of its construction, would justify the conclusion that under similar management the Pacific road can be completed within three years from the present day. rn For along time we regarded all these Pacific railroad schemes as visionary and impractica- ble, because of the great distances, the vast timberless plains, difficult chains of mountains and arid deserts which the road, by any route, would have to traverse. Recent discoveries, however, have shown that all this vast Asiatic region of our continent, from the boundless prairies west of Kansas to the Pacific Ocean, is, perhaps, the richest region in precious minerals on the face of the globe. In addition to these discoveries in the States of Kansas, Oregon and California, the gold and silver fields brought to light in the Territories of Nebraska, Idaho, Washington, Utah, Nevada and Colorado, to say nothing of New Mexico and Arizona, are abso- lutely amazing when we come to broach the of their full development. Within a few yoars, with the slow and exhausting trans- portation of wagons drawn by horses, mules and oxen, travelling over uninhabited plains and through dreary mountain passes, from a thousand to fifteen hundred miles, settlements in the Rocky Mountains and in the Sierra Ne- vada ranges have been planted to the extent of a hundred and fifty thousand sculs; and still the stream increases in {ts volume. The building of this Pacific Railroad, therefore, will be the building of new States along its whole line as it progresses. It will, indeed, be the most wonderful exhibition of the development df ctvilization, wealth and power, in the history of any nation or race of the human family, since the great paravans passing over from the inte- rior of Asia ¢o the Mediterranean built up such marble cities aiong their route as those of Baal- bec and Palmyra, whose very ruins are still among the wonders ov the world. The thome is inextaustthle. This Pacific Railroad is one of those great amterprises which change the currents of the worlds commerce, and establish the seats of its powar for a thou- and years. Let it be built, and the line of the road will soon be marked by # line of marble cities, with San Franciseo at one extremity, as ” the Queen of the Pacific, and with New York at the other, as the imperial mistress of the At- lantic Ocean. The New York Democracy—Amother Rupture, and Its Probable Momentous Consequences. The history of the democratic party of New York furnishes an instructive chapter of many @ successful consolidation to seeure the public plunder, and of many a violent and disastrous disruption in the division of the spoils; of fre. quent rebellions against the Albany Regency, but always followed by its restoration to power. ° At length, however, as we suspect, there is a rupture which will be as decisive against. the Bourbons as the French Revolution of 1848. The democratic party lost the Presidemtia’ election of 1848 by a split between Martin Van Buren and General Cass; they recovered the State completely in 1852 by a fusion upom Poor Pierce; lost it again in 1853 in a squab- ble over the spoils of the New York Custom House; lost it in 1856 by the ceatition of a large proportion of the Van Buren free soil ele- ment with the republicang, in consequenée of the repeal of the Missouri Compromise by the democratic party in power at Washington, in 1854; lost the State again in 1860, inconseqtience of the breaking up of the national organization at Charleston and Baltimore, between Douglas and Breckinridge, through the intrigues of the Albany Regency; and recovered the State again in 1862 by another fusion against the somewhat demoralized republicans, in consequence of the blundering and disastrous mismanagement of the war by Mr. Lincoln's administration... But again the tricks and treachery of the Albany Regency have opened the door for ani Te bellion in the camp, and this time Dean mond and his dictatorial clique will most pre- bably go down never to-rise again. The great peace meeting of the democracy of this city the other evening, which was a fusion of the masges of the Mozart faction and Tam- many faction in behalf of peace, was algo a declaration of war against the Albany Regency. The issue is broad and clearly defined. The Regency have declared in favor of “a vigoruus prosecution of the war” against the rebellion. The New York city democracy, under the Tycoon of Mozart Hall, bave declared en masse in favor of “a vigorous prosecution of peace,’ including, first of all, an armistice, and then » general convention of the loyal States,:and simultaneously a separate general convention of the rebellious States, with the view of working up some new compromise of reconciliation and reunion. Upon tbis issue between the war faction and the peace faction such a division of the New York democracy is foreshadowed as will inevitably throw over the State again, in the coming fall election, into the hands of the republicans, as the first result. In this city the peace democracy will un- doubtedly bave it all their own way. In the rural districts a little more time will be requir- ed to fix this new idea of peace in the minds of the warlike agricultural members of the party ; but still, we dare say, that in the aggre- gate vote of the State the peace democrats, even in November next, will have a decided majority over the war democrats. So enthusiastically have all the odds and ends of the party in this city responded to the peace movement at Cooper Institute, that -by this time next year (should the war drag along till that day with- out any signs of submission among the chiefs of the rebellion) we verily believe this peace platform will be the platform of all the demooc- racy throughout the loyal States, and that with it they will carry the Presitlential election. And what then? Why, then, with the inaa- guration of the new administration, there will be ‘an armistice, suspension of the war, and a Northern con- vention and a Southern convention called to. consider the question of peace and reunion upon the basis of a reconstruction of the fede- tal government. The results will probably be peace and reunion under a new federal consti- tution, giving ample securities for the proteo- tion of the Southern institution of slavery, and embracing such stringent provisions against any further disturbances by the disorganizing abolitionists as to reduce them to good be- havior for the future or compel them to quit the country. Such are the momentous consequences which are foreshadowed in this peace movement, and which wili be almost sure to come in defamlt of deadly blow to’the rebellion before the open- ing of the next Presidential campaign. We may say to the party in power, therefore, and to all the financial and commercial interests concerned, that they have but one course to take if they would avoid a political revolution in 1864 which, in addition to the contingencies suggested, in the reunion of the loyal and re- bellious States uader a new constitution, may wipe out, as with a sponge, all the existing war obligations of the United States and the so- called Confederate States. And what course is that? It isthe simple remedy of o vigorous prosecution of the war to the extent of all the war powers placed in the hands of the adminis- tration by Congress, new Cabinet, and the absolute suspension of all these foolish and Niwz—The London Times has & vensible Gun a and Grant. Nan a of Messrs. Speke assume that the settlement of the long-vexed question of the. source of the Nile by these travellers positive, but, admitting that it is 00, it shows that they have dose ‘but little more than confirm the conclusions at which scientific men 2 : y