The New York Herald Newspaper, September 5, 1863, Page 6

NEW YORK HERALD. JAMES GORDON BENNETT, EDITOR AND PKOPRIELOR OBNER OF FULTON AND NASSAU SIS, TEMS cash tp advance. Money sont py mali will be fithe rtek Of the gender, None but bavk bills current ib orrica ¥. HERALD Tue cepts er copy THE WEXKLY BERALD, every Saturday, ot Fiv¥comt percopy. Auuual subscription price — $3 7. Five Copies, id ‘Tem Oopies. a! Postage five conts per copy for dre AbY largur oGwoar, addrenged Lo namOs O $2 FOcccd. Av extra oupy will de sent to every club of te, Twenty copies, to one nddroas, ove year, BBS, oud By largor numoer at samo price, AB extra copy will be gent to clube of twony. Thee raves mats HRnarp (he chegpent publication i (he country. ‘The Eogornax Evaton, every Wednesday, at “Fon conte per copy; $4 per aneum to any part of Groat P: | mo Invalide 1 usse (organ of the Car) holds out the projevted treaty before the eyos of France and Greap Britain to a vory unquieting extent. . Bi» Tincoln, ciroulated at the official correspondence relative to what is termed ‘The President's Letter, The comments of the press on the letter of Con- Tho .aglish Parliamentary paper, containing theo , aud published in. the Huitauo, are 1 “federal intcrference"? with Britioh trade to the Bah wows and New York, ia also given. Previous ture of the Archbishop of Mexico n Paris he Lada lengthy conference with the and Empress, at which it wes thought able attitude of the United States towards throne of Mexico was discussed) The inke Maximilian wae onfaged in an anxious ulsifon aa to the amount of support and op- stion which he would receive and encounter should he become Emperor. Dion Koucicault was discharged #4 bankrupt in Londen, At hia final e @ complete state- sourecs, and pri » America, pright value of his pls Patti is to mous sum per uight for singing ad j Are property of despatches from Poland, desorining the : measures which are being teken by the Russian anthorities against the Catholic clergy a or 86 lo any part Of (he Continent, both to tx postage j The Caiworvia Borrow, on the 84, 13th and 23d of | cach month, si SIX Ceuts per Copy, or SS per annum. | | AbvaRTvarern, toa limited aumber, will be inserted | intne Weer.y Herato, avd im tbe Luropeas and Califor. Bin Editions. i VOLUN IARY CORRESPONDENCE, containing import. | ent news, solicited from any quarigr of tho world i | used, wilt be liberally paid for. agm Our Forman (9 | AUBPONDENTS ARE VARTIOULARLY REQUIOTHD TO BRAL ALL Litt Volume XXVUE..... AMUSEMENTS THIS EVENING, 246 RNIBLO'S CARDEN, Broadway —Nanoissn. Phe sayi cc THEATRE, Broadway--Tevx te THe Ast. WINTER GARDEN, Broadway, --Lany Avoter's Ssveet FEW BOWERY THEATRE. Bowory.—Nick of tHe Woopy—tush HAY MAKEN SUC" AN Fiag—Wieren Moupan. BOWERY THEATRE, Bowory.—Guost oF Actexsorg— Tuts Bargnsnt—Kocusa, UM'S AMERICAN MUSEUM, Broadway —T: NDIA’ Cums, WARRIOR: AND Bouaws, &. A Wire—One 4 Penwy—a(ternoon and Prn au ing. BRYANT'S MINSTRALS, Mechanton’ Hull, 472 Broad way.Eriiocta Sonas, DANCKS, BUNLESQUES, &C.—WHO Caw Finn Us Now. WOOD'S MINETREL BALL, 61 Broadwar.<Ermertax foncs, Dances, Ac. —Tux Guorr, AMBLICAN THEATRE, No. 44¢ Broadway.—B. \Pawvesines, Bumissgoas, &o.—Joun Worn van r oes 3 IRVING HALL, Teving place Tae Stegopticox. * WEW YORK MUSEUM OF ANATOMY, 613 Broadway. ‘OCuriertias any Leovones, (rom 9A. M. 10 P.M. TRIPLE SHEET. New York, Saturday, September 5, 156%. THE SITUATION. Our latest dates from Charleston are to Tacsday evening, the Ist inst., at five o’clock P. M., when the steamship Falton left the bar on her way from Port Royal to this port. At that time the sicge was going on against Fort Wagner, towards which General Gillmore had succeeded in running a paralicl. The iron-clads—which, according to the nows brought by the supply boat Union yerter- day, were ring on Fort Moultrie and Sullivan's Island on Monday afternoon—had i drawn on Tuesday evening when the Fulton left. Charicston had not been bombarded for ten days previous. ‘The firing of the iron-clads continued from three o'clock till sundown on Monday, the Slat, with groat vigor on Moultrie and the Sullivan's Island batteries, these forts, as weM as Forts Wagner and Gregg, replying. Fort Sumter mean- while, over whose shatiered and unarmed walls the Tebel flag was still flying, remained silent—a mere mass of ruins. It is reported that Fort Wag- mer had been silenced during the action; but this } ig not confirmed. A severe storm interrupted the proceedings of the iron-clads, and compelled them to lie offat anchor inside the bar, where they were up to Tuesday evening. Goueral Gillmore keeps up his fire on Fort Wagner. e Bow #0 close to it that the combatants are throw- ing shelf and hand grenades at one another. On Wednesday of last week he drove the enemy from his rifle pits, on the left ad yards, and capiured seventy-cight prisoners, in- cluding two officers. We give furthor particulars to-day of General Kilpatrick's brilliant affair in destroying the cap- tured gunboats Satellite and Reliance on the Rap- pahaunock. The disappointment which General | Kilpatrick experienced, in the gunboats not com. | ing up to his aid, is explained by the fact that the boats found the water too low and could not get | beyond Tappahannock. The rebel guerillas are threatening to cut off the supply of coal from Washington by burning the boats on the Chesa peake and Ohio canal. The navigation is now almost suspended, the boats being afraid to leave Georgetown for Cumberland. Recent despatches from Bridgeport, Tennessee, | dated yesterday, assure us that the whole Eastern portion of the State, except the region about , Chattanooga, is evacuated by the rebels. General | Burnside telegraphs that he captured Kingston with little opposition on Wednesday. Part of | General Mintry’s brigade of Rosecrans’ army Lad joined him and entered the place with bim. The headquarters of the Army of the Cumber: Jund were still at Stevenson, Ala., yesterday morn- Only a portion of the army had crossed the | been His approaches uce line, one hundred ing. ‘Tennessee. The forces on the south side are now engaged in fnovements aiming at the destraction of the Georgia Railroad of commanication. Nothing positive iv known os to the intentions of the enemy in regard to Chat tanooga; bat the fact that all movable public ond privgte property is being carried south from the town is an indication that the rebels feel doultfal forming Bragg's line j Copperheads.... j utter rout of the conse! Abey aay find it. markable man. St. Paul, Minnes river country, where he hopes to make a treaty | ing with any of the political mectings i th: no los who aympath ¢ eontuma- st valua- sequestrated military commanders of the Czar. The returns thus far received of the ele! held in California on the 2d inst. indicate that the na have swept the State, elcoting all thelr candidates—including the Representatives in Coagresa, who are chosen on a general ticket—by mense majorities. At the ei for Governor, n 1861. the vote stood as follows Republican. ....... Unien democratic. 56,035, 44 Tt will be seen thatthe two dcmocratic wings | combined had a clear majority in the. State of seven thousand six hundr r a fusion took place, and to this fact may be atirihuted the tive democracy. The are determined ‘to repud: da crush copperheadism wherever and in whstever shape peopl Tn anothor column will be found the savag> and bloodthirsty speech delivered on the 27th ult., at Leavenworth, Kansas, by Hon. Jemes H. Vane, United States Senator of that State. He dosirea to wipe out !! the inkabitants of the border coun- © very latest news by the Africa is made up | ike te criticisms on Artemus Ward’s book—they know not what to make of it. Whether it is in carnest or in jest is not deter- mined. If it bo serious, them they are puzzled and confounde*; but if Mr. Lincoln be joking, then it is ali right. Some think that he is only humbugging and mystifying the politicians. ‘The trath is, that, mixed up with a good dest of common sense, there is much fun and some strange, quaint language in this letter, which smells of tho spiritual circles and of the atmosphere breathed by Robert Dale Owen. | But, emidat all the droltery and visionary ideas it contains, there is one grave and important point which desorves attention, and that is, that tho end of. the war is pronounced by the Pre- sident to be in the far distant and uncertain fu- ture—‘‘in God’s own good time;” and he warns | the country te “be sober,” and “not to be over sanguine of a speedy final triumph.” He says he sees no indication whatever of any intention on the part of the Confederates to submit or even compromise; that as for the Southern non- combatants, they have not the power to do it if they had the will, the strength of the rehel- lion consisting in its army, which is wielded by men who will never yield or compromise, Tn other words, Mr. Lincoln regards the war as interminable. This is a aad and gloomy picture, and tt is | , the view that appears to be taken of it by the | y shrewd stockjobbers of Wall street. Simulte neously with the appearanee of the letter there | is a suddon rise in the price of gold and a cor. responding fall in the price of railroad stocks. This letter did not produce ali the effect; but it was tha last feather which broke the camel’s back. It gave the finishing blow to a confi- dence already shaken by the military and naval mismanggement of the war—the present gene- ral inactivity of our forces—the political mia- conduct of Congress and the Cabinet in adopt- ing « series of absurd measures, which tave united the South and nerved ii to the most desperate resistance—while Mr. Chase comes ties in Missouri, without regard to sex, age, condi- tion or politics, and to burn over ail the country bord grin, Kansas og the gaat, two or yrte coun: ties rhe sad ie ay ee in that section, Itisa remarkable speech from 2 most re- ‘The Bell-Everetts, or Constitutional Union men, are preparing again to sel! out to the democrats. The leaders, being about all that is leftof the whole party, will moet in Albany on the 8th i stant, the day before the Democratic State Con- vention meets. United States Senator Alexander Ragpsay loft ta, on the Istinstant, for the Red with the Chippewas which will enable us to navi- gate Red river. He is to have an escors of three companies of cavalry when he meets Sibley's ex- pedition. The journey will occupy six weeks, Six ministers were drafted in Reading, Pefayl- vania—three Methodi: one Lutheran, one Epis- copal and one Roman Catholic. There are now over five thousand mea in Camp Butler, Ohio, ready for service. Orders have been issued from the military bi quarters in Baltimore forbidding soldiers int The Western papers contain fall accounts of the ravages of the froat in that section of the conn try. Corn, tobacco, buckwheat aad various hinds of garden vegetables have been materially iniur- varioua portions of Mlinois, Kentucky, Wis- n, fowa and Minnesota. ‘The Board of Aldermen met yesterday and transacted some routine business. It was expected the draft exemption ordinance would have been called ap; but the Aldermen cannot move in this matter until after the action of the Councilmen, who did not have aquomum. A very important sani- tary document from City Inspector Boole, respect. ing slaughter houses and recommending various reforms, was ordered to be published in ail the Corporation papers. ‘The Mayor sent in a whole batch of vetoes. Tke Board adjonrued sine die. ‘The next meeting will therefore be eubject toa ent. “th » Poerd of Conncilmen did not organize yos- terday r want of a quorum. Another eail is now ia course of ature for a special meeting, to be heldat noon to-day. If the law courts we: in session some action would have been ta yesterday on the intelli- gence of the death of ex-Chief Justice Bronson, whose name as « jurist is as fam nd whose judgments are as munch respected inKurope a9 th are in America, dectine in the nek market continued yesterday morning, mainly in conrequence of the vearcity of money among the weaker class gf operators » the afternoon ? there wat A Bhirp Pally, Whi Prices rte ovis closing buoyantly, Money wes active chiedy in consequence of distrust amon, sold at 134);, and closed at . Cotten was in fav demand and very fir yesterday. { ; | | the day; bot at the glose, depressed and. declining. ‘Tho | most active article in the provision line was Inrd, which sold freely and at a shade firmer prices, Whiskey. was in lively demand at full rates. Groceries were in mode- rate request and held stiffly, ‘The inquiry wae (ait for hay, hides, hops, tallow, tobacco and sole leather, all of which were tending upward. Oils were im toes demand, Naval stores were quiet, Jagot copper was inquired for. A modorate busines was reported in the freight line, and rates were advancing, partioninrly to Britigh ports A remarkably active business was reported im dry general tendeney af prices was toward a higher range, { lotter wag in the first instance addressed to a treudstuils were generally active and. buoyont early in | | | | } forward and demands from the bankers aud merchants of New York another toan of fifty millions. To cap the ax, Mr. Lincoln's letter, which now first seos the light, holds ont no hope of any termination to the war, This | political body in Springfield, Ilinois; but it was intended as an exposition to the whole | country of Mr. Lincoln’s view of the past, tho present and the future of the war. He is the highest authority on the subject, and when he ; says he can see no end to the conflict the announcement becomes one of the most serious } nature. The moneyed interests take the | alarm, and they naturaily exclaim, “Where is all this to ead? Already we have axpended fifleen hundred millions—half as much in two years as England lavished upon her great war of twenty years to crush the Freach republic | and the Napoleon dynas At the end of another year the expenditre will have fully } equalled that of the British government during its gigantic struggle with France, ex- tending over two decades. When men who hold railr stocks and United States socks ponder over these things, it is not to be wonder: | ed at if they show symptoms of uneasiness and | prefer gold to paper. Thus the loss of confidence spreads on | every side till at lust it becomes a panic. {t is the doubt in which the future policy of the administration is involved, and | the uncertainty as fo the end of the war, which undermine the financial stability of the | government. [lad the war been pushed forward with vigor and success, and bad | not impassable obstructious been placed in the way of the return of the Southern States to the Union, there would be very little danger of the public credit being impaired. But let the present unsatisfactory stale of things be con- | | done. The Uprear Among the Gamblers in Wall Gtreet. Wall street has been in an uproar during the past few . The have blown up their bubble pretty well; but it has been pricked at last. Gold has risen steadily, and railroad stocks have tumbled down from ten to fifteen per cent. In the elegant slang of the street, “lame ducks” are plentiful, ‘and “the NEW YORK BURALD, SATURDAY, SEPTEMBER 5, 1863—TRIFLE SHKET, slaughter of the innocents” bas been terrible. Outside speculators have suffered most cevere- ly; but even the old, regular operators begin to totter and show signs of distress. The one or two hundred young men who have recently made fortunes of one hundred thousand dollars each by investing only a single thousand are now peaniiess, having lost all their gains and their original capital into the bargain. The Jewish speculators, who were almost Pinca by the fall in gold some time ago, have experienced another reverso, and again tear their hair and invoke Father Abra- bam, a8 if they did not know that it was Lazarus, not Dives, whom the old patri- arch favored. There is great excitement down town, but very little sympathy among th These speculators have made n, and they must general public. Wall street a accept the gam’ The occasion of this fall in stocks was the unanimous resolution of the city banks to take thirty-five millions of Secretary Chase’s new Toan. The market has been very feverish lately, 1 shrewd observers predicted that the s\ight- conse would create a panic. President Lin- coln’s letter, announcing that the war would be interminable, and ramors that Lee waa col- lecting so army of one hundred aad fifty thou- gand men to take Waskington, ‘came just in time to assist in upsetting the market. Doabt- less some of the chicf onerators, who are fa- vored with hints from Washington, and who were thus advised that Seoretary Chase was bont to eall for a loan, have made coa- siderable money by the panic. The Mo- phistopheies who sits. ia the Treasury Department, and pulls the — financial as well as the politioal wires, probably knew what he was about, and had his own ends to serve by creating this uproar in Well street. Tne coincidence between the publication of the Pres’ it’s gloomy letter and the cali fora loaa, which, as we are semi-officially informed, Secretary Chase does not need at present, ia cer- tainly significant. The calculation that Eurepe would not require a very largo amount of hreadstuit’ this year, and that, consequently, our railroads would lose most of their freight, did not start the panic, although it may have directed it toward railroad stocks, which were quoted go far above their real value as to be the weakest and most aensitive on the list. Fi- nancial matters are-now almost exclusively controtied by a Washington ‘clique, and we nist look to Washington for the true origin of! the uproar in Wall street. During the past year speculation in stocks has been simply a kind of gambling. Tiun- dreds of nm who knew nothing whatever of stock operations, and do. not even uaderstand the technical terms of the slock mar- ket, bi; been seduced by this appa- rently easy mode of winning a fortune rapidly. Spon depositing with some broker ten or twelve per cent of the value of the stocks, they become the nominal owaers of a hundred res of this or fifty shares of the other stocic. If stocks happened to rise in a day or two, those verdant people made a Uhousand or two of dollars, without knowing exactly how it was if. on the contrary, stocks bappened to fall, then there was “a slaughter of the inno- cents,” which means that these outside peopie lost the little money they bad deposited with their brokers. ‘his sort of speculation is ri- in our gambling houses, where you re- ceive a hundred dollars if you happen to win, and lose your little stake if you happen to be beaten. ‘The chances of (he success of a green- horn are about the same in the ove case as in the other. He may be allowed to win at first; tinned for a little longer, and it will be very difficult to prevent # universal Onancial crash. The only possible preventive, indeed, is an- other letter from the President, addressed to Horace Greeley or somebody, iu which, after consulting the spirits in # cirele, includiag Robert Dale Owen, Andrew Jackson Davis ond | Artemus Ward, he wil! positively announce the end of the war within some definite per ‘The operations of commerce aad finance will then regulate themeelves accordingly, and pub- ic confidence will be resuscitated, ' Bex Wooo's Potrricat, Lorreny—Two Pr | weet One Ticker.—We notice that Ben Wood + and his News have called a meeting of the State Copperhead Committee, to be held at Albany | at the same time that the Democratic State Cou- | vention is in session. We understand, from this and other significant demonstrations, that in the event of the Convention refusing to go the en- tire copperhead figure Bea Wood and compa- ny propose to bolt and organize au opposition | coavention of their own. This will be ver but be wiil be only the more conpletely fleeced in the end. Nine-tenths of the business in Wall street lately has been of just this cheracter. The majority of the losers have been just such gambling speculators, and the clique of sharp- ers at Washington bayve kept the bank and pocketed the gains. The present panic may or may uot have been designed to increase the funds. of the friends of some body who desires to be the next abolition can- didate for the Presidency. The coincidences to which we have referred may or may pot surely awaits him.) .. The Probabilitics of Another Rebel Ad- vance. Affairs at Charleston go on slowly, a5 such affairs inevitably must. While we eateriaia no doubt that that city and its defences will final- ly fall before ‘our arms, we regard it as rot improbable that it may hold out for several weeks yet. We have to batter down defences that have beea in preparation for two years; we struggle at 2 point where it will be the ene- my’s highest pride to prevail; and we must be patient. Tlistory also limpa # little in Tennes- see. Rosecrans has to operate in a dificult country, and Burnside bas to support him in one not less difficult, But, while the country waits confideatly and patiently for glorious achievements at Chattanooga and at Chartes- ton, what is to be done elsewhere, aad what must we expect? the past alike indiente that we shal! probably bave another advance through Virginia of a large rebet foree under. General Lee. Matters prove that the panic was originated by some- ; body behjnd the curtain, whe had been p viously informed of the contents of the Presi- de jetter, and knew how to secure its pre- mature publication and how to take advantage of its effect upon the stock market. Outside speculators have about the same opportanities of discovering such facts a5 greeaborns: have of knowing when a professional gambler in- tends to turn up a Jack, or when he has half a dozen trump cards concealed up his sleeve. The only safe course is for the general public goods of all descriptions durmg the past week, and the — | very smart on the partof the Hon. Ben Wood. | {9 keep out of gambling dens and Wall street | He will aid and comfort Je®. Davis by trotting | operations, and leave the sharpers to cheat and | out the peace party agaia; for peace, as Ten | swindle each otber, This advice we have often Wood understands it, means the suspension of | reiterated, and we hope that, afier the present niarly for domestic edttons, which were favorably — hostilities and the recognition of the Confede. afectod by the tise in the raw material, Favorite styles pate States and the right of secession, He may | oF domestic woolens were alse firmer. The tiberal Male’ | aes jy the same move give aid and comfort to | of the week lessened the available storks materially, and | 1 aical qhotitionists, by throwing the great | many local jobbers were purchasiog from first hands to | rs . & i ee up their assortments, #0 as to moet the require. | State of New York into their hands. This will | monta of theif customers. [n some instances prodoction | be killing two birds with one stone, This will was much bebind the volume of sales. The foreign g004* | he drawing two prizes with one ticket, whict is market was quite active for alt desirable fabrics, which § th yah of en Wood's lot more than any of the patrons of Ben Wood's to were bringing very full prices, privately and through the — y auction rooms, The imports of dry goods at this pert, | wook ending yesterday. amounted ($1,656,248, including We never imagined that (he | Let | teries ever did. hero of 4-11-44 had so much talent, $156,659 entered for warehousing, ‘The total amount | poweyer, or the scheme may explode under his of foreign dry goods actually marketed during the week H wor $2,014,442, the main portions of which consisted | of manufactures of woal and #ilk, } Sewaro ano Coase tn New Youu. The pro : coedings of the Syracuse Convention have had | sway was, beyond that of all others, despotic one result, and that is the ascendancy once and arbiteary. They felt png) that the need of wore of the old Seward phalanx in this Siate, the staple would force Bugtand add Wrance ebout their inability to hold it. A portion of the crew of the steamer Shock okon, ia New Topsail Inlet, North Carolina, de stroyed the blockade ranner Alex. Cooper, from New York to Port Royal, with an assorted’ cargo. ‘The crew dispersed a party three times their num- ber and captured several prisovers and horses, MISCELLANEOUS NEWS. ‘The mails of the Africa brought us important felt ore from our apecial correspondents in London, Vara and Berlin, which we publish to-day, with esting exteacta from our foreign fites, of Bngland and Peance virtually ac- ! he importance of the proposed Rus- ° on alliance, while thelr newspaper or- ged) dicated very plainly thoir fenr of its conse. quences, moro partionlarly to England, should she pai ala wa pitieec wit Bussia ot thia country, and the complete overthrow of Chase and his ; into espousing their cause openty, while the followers, including poor Greeley, who feels | North would be ruined beyond atl redemption in a sad condition. This is the meaning of the | because King Cotton frowned, For two years Convention ab Syracuse. Nor was it Thurlow | this state of affairs hax endured, and as yot Weed who organized and marshalled the Sew. | none of these things have come to pass. Rog: ard forces in this fight, It was Raymond who land and France bave managed to scrape along. did it all. Weed has become « snperannuated | The holders of cottow have made fortunes, and imbecile, and bis days of campaigning are over, none, save the poor operatives, have suffered, ‘The whole credit is dae to Raymond. Seward | Here in the North f por eu war, boomy 5 Chase under his feet_in New York: but let | ful, amd most people have allowed | of x4 fe aagn we aapeane; for Chase is | the sovercignty, of cotton to pass put of their not 4 wan to be kept down, and thie is the only | minds entirely: By this time the deluded re- State in-which be bas not #0 engineered as to bela have found out the extent of their error get the upper hand of bis adversary. ‘The fight | on the subject of cotton, and doubtless would fe still going on between the distinguished indi- | be vory giad to arrange matters, ant, leaving viduals, and we hope the President wilt nob | war aside, go to planting cotton again, ere some interfere to shor it. . { tuake discovery readers ity uae obsolete, severe legson, our advice will be better re- | garded in futore, H Tus Coxsemacy ov tan Wrereny Ponore.s Powers Acamer Tris Rerverse.— All the actions of France and Eog!aud betray at the present moment the decp rooted enmity and ill will of } those governments towards us. Napoleon, en- | couraged by Palmerston, is acting in Mexico jv such a manner as to prove that he ignores , ; | the existence of the American republic. or else $1,309,589 in eniries direct for consemption, and enty | hin manage his political lottery caretully, | that be is desirous of openly breaking with it. He has seized upon Matamoros, becaike he very nose. | foresees that a large cotion trade will take Cortos Nor 4 King.—The people of the | place there. Is any one #0 insane as to sup- South fancied that cotton was a monarch whose | pove that thie adminisir | such trade to be prosecuted?” Stung by these insults, which have all the appearauce of being premeditated, “our government will undoubted- lysuse every effort to end the rebellion, and then turn its attention to the pranks of the French on this continent. We consider the appointment of M. de Mon- thoton, the Consul General at New York, as \ Minister to Mexico, an act intended to annoy — this people. The Emperor of the French no ; doubt imagines that he is thus bringing the affair home to us—in fact making us be- come accustomed to the idea of his con- quest and occupation of Mexico. Bat he with the rebels are now in such a stage that the desperate nature of a movement would aot deter them from (ae attempt if there were any promise of suceess in it. Kirst, then,some active operations are absolutely necessary for the army under General Lee. | Otberwige it cannot be kept together. From the nature and dispo- sition of the men who compose it, protracted seasons of inactivity injure the morale of that army in a peculiarly great degree, and it must fight or fail ta pieces, But the past summer has shown that when thé Army of the Potomac is ia good: hands the rebel army is no match for it, even with an odds of fifteen thousand to favor of the rebels. Then they will make the odds largely greater than that, And this they have the power to do. Let us suppose that in front of Rosecrans and Burnside the rebels leave merely a masking force to beguile the tong headed etrategist with manceuvre and take up his time, and to amuse the pugnactous at thor of Order No. 8 with a show of power at two or three different points. Let us suppose also that they, reduce tho number of men at Charleston to the minimum necessary to man the works, and then mass in Virginia every available soldier in the confederacy. Whatever minor points they might relinquish by this would be more than paid for by a great success. By these means the rebel gov- ernment could put in the field in Virginia ove hundred and fifty thousand men. How weit. General Lee might handle these, taught by the experience of two former at- tempts, we cnn imagine. This wou!d be no mistaken adventure into Pennsylvaaia to “help the North avise aguinst the despot,” nor even # sentimental oampaign ia favor of “My Mary- land.” Lt would be one straightforward aweep to seize the cities of Washington and Balti- more-- that the rebel ggvernmem might “date from the federal capital’’—and do so much toward the realization of the queer specala- tions we had from the British press in Jaly | inst. It would in some degree eatisfy the Southern mind, which now will be content with nothing lees than aggression and reveage, and, if successful, it would set the struggle back at least one year, ‘And the gatlant Army of the Potomac is what we would have to put in the way of this third great advance of the rebel army: that and a faree of Peansyivaaia militia. In the six or eight weeks to come we shall have magnificent weather for active ope- rations, and this is the season for great events. ALLsoxp Inretysrence wire Barrisn Trape.-— In another colwan will be found the official correspondence which has taken place between Mr. Seward and the British Foreign Office in re- lation to the restrictions imposed under the authority of a recent uct of Congress upon trade between this country and the Batiamas. In accordance with its provisions it bas been the habit to refuse foreign vessels clearances from our ports for doubtfut destinations until their owners had given bonds that the cargoes would not be dispoved of ia any way that might benefit the rebels. {t is complained (hat this regulation is a violation of the treaty of 1815, aud is in- tended to destroy the trade of Great Britain with her West Indisa colonies by way of the United States. A further grievance is based on the allegation that the bouds, which it was pro- mised would be givea up on the production of certificates from the American consuls that the cargoes had been disposed of in a manner an? objectionable to the federal authorities, are still withheld, although (he conditions Lad been comptied with. Mr. Seward’s replies effectually dispose of these allegations. He shows that the federal or any other goverament has the right to pass such internal laws a* may enable it to deprive ite enemy of aid and comfort. and that treaty agreements do not invalidate such rights, Mur- thermore, he declares that he is unable to find in the papers any evidence whatever that the | act of Congress lus been administered so as to ration will allow aay — apply invidious!f or even diseriminatingly against Great Britain. 1 does aot appear that nove bat British shipments in contravention of the act bave b prevented by Lue Collector at New York. I{ such, however, should be the case, the proper inference to be drawn from it would seem to be that so such’ shipments by any persons other thar Hritish subjects had been atiempted. In perusing this correspondence one is struck with astonishment that a ow committed stich national law aud of its own foreiga Kalistment act, in order to subserve its cherished purpose of breaking up our fastitnlions, should have the efrontery to quibble with us on points like | those seb forth in its temonstrances. The pre- tence that we have committed a violation of its treaty rights ie worse thon ridiculous —it is im pudest; for it is by abusing the privileges granted to the most favored uation, and coa- verting them into instruments for our destruc. tion, that it now finds itself under the necessity of making these reclaastians. H Surrogate’s Olfive. wih OP ANN TitNe, | Before Gideon J. Tuccok, oir rg ate. | Tho testator given Uo Hridyet Dosw, one of hoe do will Gnd the result of these mancuvres : | 11.4, ¢190; to the Society for the Italie" of Aged amd | the reverse of his anticipations. France and | Bogiand seem anxious to get up a feeling of un- i , i Appearances at present and the history of ament which bas — agrant violations of inter. | ‘The Yacht Gypsy. ‘TO THE BDITOR OF THE WERALD. Ou lecking over the Hens of tho 24 of September, 1863, I see that a contest in regard to tho ssiling qualities of the Gypsy, an American yacht belonging to Mr. A. Morse, of this city, and that of (be English yacht Alarm, has takem piace, and thet the Alarm camo im ahead’ of the Gypsy by six minates and sevouteen seconds. Now, taking all things into conaideration im regard to those two fast yachie, it must be borne in mind that the differenee of the two yach!« prosenta & gross Contrast. In the first place, the Alarm had for days pro. vious to the race fur the Queen's crn, which came off on the Sth of Auguat, at Cowes, Inte of Wixbt, all and every attention paid to-her that time and money could do te place ber in complete sailing order and trim, and on the day Of sailing for the Queen’s cup lay below the starting Point as a silat spectator of the interesting race. On tho other hand, tho eaucy liltle Gypsy, on tho morving Of the sano day, anchored at eight A, M.——the race coming offat 11 o’clook —with her foretopsail yards in two pieces, hanging by tlie rig. ing, from tho very “bet weather she had experiencot in crossing from Queens town, Ireland, to the Isio of Wigiit. The Gypsy left Cowes on the 11th of August for Ryde, and ‘!e race com- ing off-on tho following day, what opportunity had abe to prepare for the conti, after'a sesage of twonty-Lwo days across the Atl. cic, with a fuat Lottom end iy her seagoing rig? It must be und: rvtood By all lovers of fant yachts that the Gypsy bad ne’ been teken out of water for the last ten months to c's" Her bottom, avd that no preparation hnd been toude ov bovrd to sai) any mnich, [fool perfectly coniident, if ever the Alarm and Gv sy, with ber gallant owner, como im contact again, the re: sult will prove as gtoriows me that of the Amerien. ODF OF THE GYPSY CREW. SxCOND CONTRS? OF THY YACUT GYPSY, The Gypay took part in (oe Royal Vietorta Yooht Club regatta at Cherbourg on the 18th ult, Sho came in the ninth ou the homestretch out of fourteen yachts. The Landon Star exyo:— ‘The Gypay bas bithert» been considered as a very faut veskel, as was amply proved er tris! urip w ih the Alarm’ schooner th. 0! d who: iarving tho No Man yoatorday cho auoved signs of mischfevoua inten. tion ; yet it pnpeared to be of no avail apaine! the nowor. fal vessels brought st hor, ai‘ she was beaten by the Commodore's scxeoner, the Aline, It soems strange that Mr. Morse does not take the Oypsy up on the gridiroy and clean her bottom, and ren@ aloft her fore aad main topmaste,e that she can apread the nefezsary snil. There is no doubt that the Gypsy cam beat all tho Englicl yacbts if sho was put in order. Literary Intelligence. Mr. Markonfleld Addy's Lifo of Stonewall Jackson it tho most interesting and carefully compiled biography of that dashing and successful loador that hag as yet ap- peared. Although only afew days pablished, the trade orders for it bave already, wo understand, exhausted the first edition. Professor Draper’s ‘Intellectual Development of Europe’ is oxciting 4 good deal of interest in literary circies. {¢ is a poworfully written and c'osely reasoned book, und i¢ entitied to a place wito the works of Hallam, Guizot and Buckle. Mr. Leander Gtarr haa in preparation a translation of the popular Andaluaisa talo “La Gaviota,’, by Fernaa Caballero, The lady who writes under this peoudonym ts the daughter of Don Juan de Faber, to whose erudition Spain is indebted for a colloction of ancient poetry. ‘Among foreign critics she has obtained the title of “ the Spanish Sir Walter Scott.” We know no one who is better qualified to do justice to the task of translation than Mr. Starr. Tho book is to be published by subscription. Mrs. Alico B, Haven, 60 well known by her popular tales for children, died at her residence, Mamaroneck, Woatchester county, on the 23d of last month. Murray, of London, has in the presa a work entitled “Contributions Towards a Now History of Painting in Italy,’’ the jout result of the researches of Signor Caval- cagolle aud Mr. J.E. Crowe. A literary curiosity, in the shape of a posthumous work by the late William Cobbett, bas recently been published in Landou. It is entitled <Cobbott’s Legacy to Lards.”” ‘Two now British periodicals aro announced, the one entitted “The Progrosstonist,’" which, trom its being edited vy Mr. Portoous, a Swedenborginn preacher, we tako to bo a sort of new light spiritantist organ; and the other, ‘The Chinese and | apanese Repository,’” edited by Professor Summers, of King’s Goilcgo, London. The Loa- don Literary Times has changed bands, aod is now the property of Mr. Maclean. Theatrica! New powner. ‘To eee four or five plays and three or four ghosts ja & ginglo might at the same theatre is vo comnmom treat, Yet this is the style of entertainment cffored every evening at the New Bowery. 1t is no wondor thas sroh an overpowering programme and such a multitude of phoatoms attract tremendous audiences. The crowd ot the New Bowory on a night, and ospecially on @ benefit night, is a sight, hh sooing. No one who has not witnessed it can fully appreciate New York city. Taat aight there was just such a crowd, the occasion og the bonefit of Mr. K. Eddy. The plays were ‘The Corsicaa Brothers,’ “The Rent Day,” “Red Retver, the Outlaw,” and “Black Practics.”” The ghost was intro- duced tn the tableaux of +The Corsican Brothers,” and received @> particular attention and commer: :ion of the audience. Manager Lingard works bis gnost bard, and wo know of 00 spectre which earns an honest livell~ hood more fairly and with greater satisfaction to the public, It is @ singuiar fact, but in this practical age even ghosts bave to work for their bread and butter aad © pay the washerwoman who keeps white shoots and things in order. Manager Lingard tas already done what Manager Pochter is thiaking about doing in London. He has ia- troduced the ghost ia Shakspero’s plays. In ‘*Hamles”’ i aki oot prove a very great addition; for the scene be- tween Hamict and bis father's spirit had to be mado al- most atabicau. fo “Macheth," however, the ghosts wore extremely oieotive. The ghost of Banquo, tho\ghoste Of the eight king# aud the ghosts ef the witchos wore splonditly represented, and affected the immense andi- eves iadeseribebly. Manager Lingard deserves much crodit foe this enterprise, and thi pablic ahould give him fome substantial token of its estoom at bis benefit coxt Friday. LONDON. ‘The tondon Pines of Angust 19 says -—' Theatriesl events have of (ato been unuaualiy rare, ever for the early actamp, And, indeed, something like a suspension Of general theatrical life esems to be indicated by the extremely smal namber of announcements referring to the stage. The Haymarket, where commonly the sea- sank are at ioaat five years long, geome by ite temporary” cloviag to have teft aw abnormal gap, while the Adelphi, the Olympic and the Strand enjoy an exclasivences of at- traction which aimost appears extracrdinwy. Mr. Pep- por's * Ghost? at the Adetphi, Mr. Tom Taylur’a “ Ticket of Leave’! at the Olympie,"’ and Mr. Byron's burlesques At the Adelphi and the Stran®, have for some time past coustituted the aggrecate amount of theatrical amude- ment accorde! to Central Lonfow. Already there are Sigua (bat the period of theatrical inactivity if resching its close. “Mrs. Stirling, who has loag heen missed on the Londou stage, and whove pixce no one bas ever proxt- mately supplied, 8 acoownwod to appenr at the Adelphi ia the cooree of a (ow days; and on Saturday next the Princess’ is to reopen for + legitimate” parposes, ander | the managermoat of Me. Waiter Montgomery.” WLONDIN. Ik will be remembered that Blondin wrote a letter te the dwity papers, a fow days ago,on the subject of rope walking performancer, ia which be ascribed (be late fours fol d sacteos rather fo ineficiency on the part of the pers formers than to accileat, What wilt our readers aay te this? ‘ihe Seville journals state that durtug a periorme | anos ia that city, «few days ©.oce, the celebrated Bion. din wat nearly loving his Tio ouly owed his escape to hie presence of mind. While performing ho had ona | head dress, to which was attzehed @ ploce of reworks in the shapes of a wheel, Whoo (uat wow tighted it aerumedt | acotary motion so violent that Blondin was annhle to resiat the movement, avd feeling his danger let go the barrow he bad boon driving before bim, as weil as his balaucing pole, and endeave:cd to onde the strings which attached the burning heat dress to his nenk. Re dropped! | from the rope, keovite himeelf snepeuded Crom it by one Ing, Wile ho divested bimeel! of the ayparatua, the fire | works still oeploding. At length he suceseded, and came | down in antety, auridat the cheers of Ue spectators. | AUSTRALTA, | Wo havo thentrloat news from afelhourns wp to June | 2g. ‘The theatres there did « good tusinens during thas month. At tho theatre Goyal Mr. Marry Sulliven bad boon playing Richard the Thied for tO succenive aguts, to great hows. He ber try Hie soa “Tee fee cancasor,” © The Stranger” and « b ord br Py hy his succsms, ie ‘ai livea has leased the Theatre Keys: for aa Je. ‘Lay Audiey's, Secret! wee brought ont token bee papi hs Ulguarat, Welbon hen a Mig be byl} fo1on nod wan for a trip to Now Zonis ood nts, * he is Mr. Charles Bummoere is ‘& favorite. Tag © stare o€ Shakapere for Ye city of Melyourae,