The New York Herald Newspaper, August 1, 1864, Page 2

FINANCIAL AND COMMERCIAL. Sowpar, July 31, 1864. ‘Pennsylvania, which also had the effect of depreseing Quotations for government securities geaerally which were before strongly in the ascendant, owing to the large 1h te amusing to hear some persons speak of a contrac. | Fders for our gold-bearing ponds {rom Europe, the iow of the currency as being at the present time imprac- | @*SY Money ta: ket resulting from the inflation of the ficable, and that the Treasury bas no otber course to | SUFreacy by tho Treasury Department to the extent of Pursue than one of contimed inflation, whea it ts per. | Beerly eleven millions during the week ending the 26th fectly obvious that a single act of Congress might be fmstant, aod the fact of an inferior interest in passed which would reswJt in the withdrawal of the en | ©Urrency paying loan having been put on the market. tire currency issues of the government, or any part of | This cannot be expected to be taken largely till the gold- the same, from circulation, and the substitution therefor | D@.ring bonds experience @ further considerable rise, Of @ funded debt, That this ts in the power of the gov- | Which they are not likely to do till the abatement of ernment it is exey to show by supposing that Congress | be lnvasion excitement, Authorized the funding of the currency. debt into coupoa The speculative spirit on the Stock Exchange exhibited Donds bearing say five per cent interest in gold, the @marked improvement during the week, and the trans. funding to take place within a stated time, after | 8ctions were larger than for many weeks previously, which the currency issues would be go longer con- | The confidence in operations for a rise was general, and Bidered a iegal tender, The interest on this debt | brokers bought freely on the usual margins. ould be raised by special taxation, payable Money was more active, at seven per cent, at the close ip specie, ay by a property tax of three or four per cent, | Of the week, owing to the increasing demand, and prices Which, estimating tue currency as six hundred and | im the railway shares list suffered alight reaction om Awenty mitlons aud the property of the States outside of | Saturday, the rebellious districts at fourteen hundred thousand The volume of business transacted in the gold room millions, would be ample for the purpose, after allowing | W4s small, owing to the limited demand for the payment for contingencies and evasions of the tax. In payment | Of customs duties and shipment, This was the ‘Of Unis tax the ivterest coupons on the bonds would have { Natural consequence of the heavy exportations to be made receivable as the equivalent of gold, This | Of native and re-exportations of foreign products qging for- ‘would stimulate the demand for and sustain the price of | W#rd, as also tothe large foreign tnyestments before re- the bonds; for every property hoider siable to the specie | ferred to in United States bonds. These causes also in- tax would endeavor to protect himself by securing a suf- | duced a decline of the premium on gold, in the faco of the ficlent amount of these to make their interest equal to | acknowledged and prospective additious to the currency, abe tax. to 463g oo Thursday, from which, however, it rallied, Such & measure as this would probabiy meet with | and the closing quotation on Saturday was 155. Produce Strong opposition among the majority of property hold- } 804 merchandise of nearly all kinds sympathized with Ors and the speculative class; but the more farsighted of | g°ld and submitted to slightly lower prices, the former would see in it ultimate advantage by the Exchange was dull and little in request on either real heck Lo depreciation of values it would afford, Although } OF speculative account, their expenditure would be directly increased to the ex- A telegram from Washington has been published to the Vent of the extra taxation, they would gain more than an | ¢ffect that Mr. Fessenden will be in New York on Monday; Bquivalent in the improved value of their accumulated | but whether he intends to open negotiations with the Property, and by the decline of prices for produce and | banks anew, or whether he will pass through the city on @everal merchandise which would result from retiring | his way to bis home in Maine without conferring with the currency. The value of real estate would be especially | be bank managers, é as yet a mere matter of surmise, Amproved or, calculating by the specie standard, ithas | By « typographical error last Friday we were made, in’ Suffered great depreciation since the suspeusion, and | speaking of tho effect of the new loam on the banks, to Property worth a million im gold then is, in reality, not | represent that “they say it will lead” instead of they ‘worth more than half as much now, other conditions | saw it would icad to a drain on their deposits. Deing equal, although its value in curreacy dollars may Mr. Cisco, it ts reported, will retire from the Sab- de considerably in excess of its former specie valua- | Treasary on Monday. tion, Tho following were the quotations of railroad and mis- Our resources are such that we are better capable of | cejlaneous shares at the close of each of the past four ‘enduring heavy taxation than any other nation in the { weeks: Judy9, aly 16.5 Jutyse: world, Groat Britain last year, under a reduced tartit | american gold. Hi 25134280 255 and tax Dill, raised, as we have before bad occasion | American g PIE A 1 A to quote, seventy millions of pouads sterling, and if a= a ad i Hl By necessary double the emount could be raised, 80 | Chicago & Rock Islan 13% 109% 109% 4K that the country would be enabled to carry on | Chicago & Northwest Big 5] 40K 88 &@ foreign war without having recourse to either = 87 z my Joans or currency; and yet tbe popolation is only | Central Coul. 0656 1% © 63% twonty-nine millions, three millions of which consist or ft 8 MK BK er who are upabie to contribute in any degree to 14K 118% 100% 112% revenue, being recipients of indoor or outdoor parish M5ie 113" 107 110 relief, Mr. Pashley, in his work on “Pauperism,” has 129° 127 127% 134 called them ‘‘an ignorant, degraded and pauper class;”’ 3 nd ie ips apd to these may be added another three millions 93% 83% 83% 92% who are almost equaliy steeped in poverty, and yield Medwankoe, SP de a oa id aa Uittle by taxation, After deducting this large number | Mar x , , from the aggrogate! it will be seen that the productive | Sem F wiesiesinpl ee becate ior taxable population of the free States is not very far sbort Pacific Mall. gs {= 2 Of that of Great Britain; and it is the working mass of | Peonsy! —- the people, and not the rich { any country, who pay the LA vat ded "Sisiee mix gr at 1% taxes. Beading Railroad. 187) 13036 138K 13635 ‘Taxation, as an art, bas only of late years made much : ‘The following were the quotations of government se. progress towards perfection,,by which we mean the y carities:— raising of the largest sum with the levst cost and incon- oud tta..... ca eee ire ‘Venience to both the government and the people, Taxa 6's of 188! TIINio@ == 108-1053 tion at the present day, in nearly every European | hive-tweaty coupon — 104% 108K country, is both less costly and oppressive and more pro fag, red... ee or 10454 105% ductive than it was a querter of @ century, or we may | Seven and three tenths notes..105 1045; 108% 109" say ten years, ago. Even Spain, for slong period, | State stocks were quoted as follows:— the most backward and retrogressive of prom- | Missouri 6’ 67 North Carolina 6’s.... 6814 ipent Powers, bas profited by the march of | Tennessee 6 58 California 7’s.. 161 politico-economic science, and increased ber revenue from Fenene os ye ate 5. ‘etxty millions of dollars per apnum in 1951 to a bun- | Georgia 6o = Miobigan 6's » 98 Gred and ten millions of dollars (specie) during the fiscal The experiment of raising cotton in Missouri, which year just ended, ‘was tried last season, proved so satisfactory that many Political economists have begun to appreciate more | of the farmers .of the State were induced this year to Chan ever the important fact that taxation is the touch- | enter into the calture om @ more extended scale. We \ 76 ‘The tre and geouive strength aod | learn that macy” thousands of acres have been planted, S-qountry, and the moral and religious com- | and that, notwithstanding the lateness of the spring and bappiness of its people, are materially vent inauspiciousness of the weather, the crop fta fiscal regulations. If inordinate taxe- gener: looks promising, and if the autumnal frosts will {toa demand from ingenuity and industry larger ssori- | vouchsafe s little tardiness in making their appearance a fices. than they are able ,or ought to make | compensating yield is anticipated. The experience of fa exchange for the benefits of government, popular dis- | lag year fully demonstrated the fact that-cotten can be Gatistaction and political discord imevitably arise; and it | grown in the Southern part of Missour!, and the only {is therefore of paramount consequence that statesman- anger to be apprehended by planters is early froste, Bip should direct its efforts to the perfection of ascheme | wich almost invariably ruin the crop if attacked before of taxation which should bear upon sll with as much it has fully ripened. ‘equality and as lightly as possible, the scale being pro- The American Fire Insurance Company will pay, on de- Dertioned to the wealth of individuals, mand, a eash dividend ot ten per cent, a scrip dividend of The vast expenditures of the present war, which are Sfty per cent, and six per cent interest on outstanding @o rapidly adding to our already large national | crip. debt, are conducted with @ certain recklessness ‘The Montauk Fire Insurance Company will pay, on de of cost which would séem to threaten the | mand, a dividend of five per cent, free of tax. Perpetustion of a system of extravagance which The Nassau Bank-of Brooklyn will pay, on demand, s after our return to peace could not be contiaued with im | dtvid-nd of four per cent, free of tax. punity. Popular discontent would maoifest itself, end The following abstract of Pennsylvania Company re- the administration would be enfeebled by party contests. | ports shows the coal tonnage for the season as compared The history of former and the experience of modern | with corresponding time last year:— times alike confirm thw. If the fiscal decrees of the vies. This Season. Last Season. Increase. Court of France had not been carried to an excess of ex- 1,852.982 52,193 trayagance too great to be sanctioned even by the obse- sie Sees quious Parliament of Paris, the provisces might Ton a4 91,961 Oe SnAO~ Dea: SAAD, SOURORE TORMENT) TE Te esate Soe oer aioe ere and the first of. the series of modern French > o*° 388 84 nh? 3 Fevolutions might have been averted, That | Aenmckin ns” Saeogs—aaeany | Naas | Political revolutions bave their origin in oppressive or (233,041 171,342 53,129 | ‘unequal taxation {sa maxim which the blstoric records Dae stoos eee of nations tend abundantiy to show. —— While, therefore, heavy taxation is indispensable to Total....+ 4,482 4,936,149 544,311 —The avthracite coal trade continues active, the tonnage last week amounting to 252,202 tons, making the tonnage for the season 5,494,482 tons, being an increase of 558 333 tons om tonnage {rom the same sources of supply to cor- responding time last year. At the annual meeting of the stockholders of the Old Colony and Newport Railroad Company, held at Boston on the 28th instant, it was resolved to issue bonds to the amount of five hundred thousand dollars, bearing six per cent toterest, and havmg twenty years to run—for Let ws not forget, amid the excitement of war, the | what purpose was not stated. It was also resolved to ‘enormous excess of our public expenditure over the in | authorize the directors to take measures to procure a come, nor that the testimony of ail history qstablishes consolidation with the Dighten and Somerset Railroad thé fact that a heavy national debt is a great future in- Corporation. The rece!pts of the Vid Colony road for the cumbrance, and that the more we exceed our vational | six months ending Jane 1, 1864, were $301,604; the ex- strength beyond a cortain limit now the greater will be | penses, $212,562 Ont of the surplus of $107,000 was paid Abe prostration hereafter. Judicious taxation while the | a dividend of $144,000, leaving a balance of $34,748. war Insts will do much to diminish the increase of our The annual meeting of the stockbolders of the Dighton lodebtedness, and so lessen the burdens which we shal] | and Somerset Raflroad Company was also heid in Boston saddle upon posterity. But the Tax bill and tariff | on ‘the 28:b, at which a report was read, stating that the at present in force are very defective, and in some re- | amount of receipts op account of 5,162 shares of stock epeote calculated to impair instead of develop the fiscal | was $180,412, of which $81,000 was from the full pay- resources of the governmeot, particularly as regards im- | ment on 1,815 shares. Of this $150,000 have been paid port duties, which defeat their own purpose by being | for railroad iron, other lesser sums, acd $26,000 is on more or less probibitory. band. ‘The immense recuperative power of this country will ‘The comparative earnings of the Milwaukee and Prairie undoubtedly enable it to work off s large national debt in | du Chien Railroad for the third week in July were as foi @ much shorter time than any other in the world, and ‘this makes our ultimate financial fatare « problem less GiMoult to solve than it otherwise would be. ‘With ® population of eight and s half millions im 1816 we bad a national debt of one hundred and twenty-seven geoure the solvency of thie country, our legislators must ‘be careful bow they tax; for it te an admitted axiom in Gnancial science that taxation diminishes consumption apd checks commerce 10 proportion to the amount levied. ‘The sources of our revenue, as well as our expenditure, should undergo the strictest investigation and maturest consideration, not only by the Secretary of the Treasury, ut those members of both nouses of Congress who have the industry, the knowledge and the moral courage to perform the herculean labor. Increase (88 per cent).... ‘The increase in the earnings of the above road since guished in the latter year and a large surplus remained Paanaogers we 4m the Treasury. Our ability to pay a beavy debt is now ey far more than double what it was then in pro- Progooand NV@ BLOCK. seeeseees portion to the population; for the value.of property in ‘dhe loyal States bas increased to an average of six hun- dred and sixty-six dollars per bead—allowing the popula. tion to be twenty-one millions and the value of property fourteen habdred thousand millions. And thie js entirely exchsive of the States ia rebellion, and without calcu lating the annual increase of population and property Corresponding week of last year. The Boston Traveller of yesterday says: Money continues easy of acces® and the applications for loans on stocks and discounts & notes are much ‘ewer then they were ju the eurly part 0 tbe week. The ruling ot interest is r cent. Socks have pot begun valuation whieh both are stil! rapidly ne . e Tee yet with other things bat, if the supply of movey ‘Thus, with immense advantages in our favor, we have | chonid remain abundant, eere , no doubt, be a large yot great dangers and evits to guard fand contend against, | advance before long in some jow priced shares of ‘aud wiser statesmanehip in the control of the national acknowledged merit. finances than the war has thus far developed will be needed to utilize and make the best of our vast re- P Stock = sources and prevent that mighty incubus of debt which si roe 16 every dxy is increasing from becoming so unmanage , oe able burden. ‘The past week has been one of considerable animation ®oth in and out of Wall street, The leading topic in the financts! world bas been the new Treasury note joan, which was advertised in Washington on Monday after. fooon, The subscription books’ were opened at the Bub- ‘Treasury in New York on Woduesday, when subserip- tons to the amount of cighteen hundred thousaad ge 3 1 dollars wore made, bat the subsequent receipts have ha been comparatively mall, reaching on Satur- iz Gey, we sre informed, to less than 8 hun. iz Gred and fifty-two thousand dollars, This ie it atictbutable-lo-aar_Jo ibe intelligence of tbe raid into i a eo NEW YORK HERALD, MONDAY, AUGUST 1, 1864. pref 9% Caran Pitt FW nods Chic A al ae » fiche Canton. o. 50 Penn Coal Co 300 Cepake Iron Mines, *¢ 18 ait & Mle ci était 18" 90) Ohi &'N W Ree 3s Bie 400 we Sr 5I%5 200 rts 4 svt 68 Bs _ 8 58) 100 Chi AWW prct.>" 8 ” 1 bid 92'; 2 BO 93 100 91% 50 Chi & nig » do. it 100 Mil & Pr du Gh eR 7 236 Pitts, W & Chi RR 116% py #o seeee MOG it A se assay O New York, for the Month Ending July 30, 1864. Deposits of gold— . + $10,600 . 000 ‘United States bullion. +++ 160,000 * ——— $197,000 Denorits of silver, including purchases— Fe ovins.. - $14,500 Foreign bullion... ... 10,000 ‘United States bullion (contained in gold). 000 Do, do, (old coins)...s...6 2,500 Do. do, (Lake Superior). 1 ‘Total deposita, payable In bars... De. <a ~ payabie in coins. Gold bars stamped.......... ‘Trabsmitted to U. S.'Mint, Phil., Receipts and Disburseme' of the Assistant Treasurer of the United States at New York. July 1, 1864, DaIANCE..++++..eeecereees Receipta during the month— ‘Costoms $3,641,301 Loans. 8,943,735 Internal revenue 977.738 afers. 9,950,783 Patent fees 5. Miscellaneous 10,617,728 + Post Office Department. 70,298 43,507,049 cory arate $31,158,875 reasury drafts. 158; " Post do.. 534,004 81,692,969 Balance July 30, 1864..... teseseeseeeseeee $15,641,679 Balance, Cr., disbursing accounts. $14,182,854 Receipts during the month... 19,741,972 33,924,826 PayMents........sseeceeeesess 897,200 $2,718,879 641,301. 4,724,075 Decrease July, 1864 $1,082,474 Balance, Cr... ‘allion ‘eel Aseay offi $137,887 Balance. Funds in hand, . Funds in hand’in Assay office. Fine bare, Assay office. ‘Unparted bullion, Assay omy COMMERCIAL REPORT. Sarcepay, July 30—6 P. M. Asnrs,—Receipts,7 bbis. The market was inactive, and prices were nominally $13 50 for pots and $15 50 for pearls. Breapervrre.—Receipts, 26,082 bbis. four, 490 bbis. and. 88 bags corn meal, 114,724 bushels wheat, 80,157 do, corn, and 11,345 do, oats, The demand was more active for export, and the market opened decidedly firmer, fresh ground shipping brands commanding an ad- vance of fully 10c.; bet the improvement was not sus- tained to the close. Included in the sales, were 1,000 bbls. extra State for September, and 1,000 do. for October delivery, at $11 25. The sales op the spot were 18,000 bbis,State and Western, 1,700 do. Southern, and 700 do. Canadian. Rye flour was dull and nominal.» Corn meal was active and firm: sales 2,100 bbis , at $7 0 for Jer- sey and $3 40 a $8 50 for Brandywine, incleding 1,600 caloric at $8 35. We quote:— State and Western flour + $9258 9 55 995 10 00 10 20 010 25 60 a 10 16 Extra round hoop Ohio, 20 0 10 50 Weatern trade brands . 55 a 12 00 Extra St. Louis 00 a 14 90 Common southera... 50 all 10 Extra and fancy ai 20 9 13 50 | Common Canrdian.. 95 a 10 Js Good to choice and extra 20 a 12 % Rye tour, superdi 75a 8 25 | Corn meal, bois... 7,75 @ 9 2 Corn meal, puncheon 39°00 a & 00 —The wheat market was more active, and a sbade firmer, on prime shipping grades, which were scarce, avd wanted for completing cargoes. Infertor kinds. of which the ‘bulk of the supply consists, were dull. The sales com- prised 112,000 bushels, at $2 21 a $2 40 for Chicaze spring, $2 30 a $244 for Milwaukee club, $2 45 a $2 48% for amber spring, $2 60 for: red Kentucky,$2 53 a $2 58 for wivter red Western, $2 60 a $2 63 for amber Western and $2 53 a $2 60 for inferior white Westero. Rye was held at $1 95, without sales, Corn was without decided chanze, with a fair demand. Sales $4,000 bushels. at $1 60 a $1 61 for pew Western mixed, $1 63 for old do., $1 65 @$1 70 for white and $1 67 10r yellow. Oats were in fair demand at $1 a $1-033;, the lower price tor P. E. Z. Barley and malt were active. Corrrn.—We note sales of 30 begs Rio, and 10 do. St. Domingo, on terme not made public. Corton was more active, and prices were a shade firm- er. Sales, 1,100 bales We quote:— Upland. Ploriaa. Mobile. N.O.4 7. Ordinary . 3 143 144 144 Middling.. . 168 163 164 164 Good middling 2168 169 170 170 Fariours were firm on account of the scarcity of tov- page on the berth. Fngacemenis to Liverpool, per Ame- rican is. 21.000 bushels of wheat at 7d. in bulk and bags, 900 bbia. flour at 18. 94., 100 bales of hemp at 20m); per neutral, 300 bbis, flour at-2s,and 100 tons beevy goods at 228. 6d. To London, per American, 4,200 bbis. flour at 28. 4344. 130 cases mengurement goods at 158., and per neutral, 350 ti deel at 4s. 94., and 20 tons To Bristol, 930 bbis. flour at cake at 22s 64. To Antwerp, 260 bdbis, petroiewm at 6s. To Hamburg, 500 bbis. refined petroleum at 68. 64. An Italian brig was chartered: to Penarth Rosds, 9,000 bushels wheat; another, same voyage, 13,000 bushels, ds. 64, Shipping Lis has the following charters:—A sbip. 2,000 tons, from a rice port in the Fast Indies to a port jo the United Kingdom ;.& British ehip, 608 tons, to Hong Kong, £1,100; 1,100 tons. from Chincha Is. Janda to Antwerp. 778. 6d.; a sbip from St. Joho, XB, dea, a: an A 300 are very ly 75 bhds. Porto at $1 12, and 20 do, Cube muscovado at $1. Pro ‘Reocipts, 324 bbie. pork, 64 do, cut meats VEINS, — and 202do. lard. The pork market was quite active firmer, espectaliy for new meas; sles 6,300 bdia, ‘8 $38 50 for new do., closing at $38 258 for country mess, $9 « $10 for country pri S28 for repacked meas and $95 8 $30 for extra do. Primesmenn a fair demand, sales of 200 tierces India mees 3 Meats Were dull and « trifle lower: fature deliveryeat higher prices: is., OD the snot, and for future de ‘and tierces, buyer August, at 220, 8 was steady and firm at S6e. a 420. for for State. Cheese was also in fair for common to . 6,923 bbis, was active for ‘were 1c. higher ; refined was quiet; the bbis, crude, ny 4 fi) at Bic. on the yy at do. refined , 620. & 000 de. ie Philadelpnia, bigs. 900, Benzino was firm at 460. Rice was and firm, at ‘tous prices. Woot,—The market for domestic and nie active, and prices were without principal sales were 250,000 ibs, wae material domestic feeee at .is to be founda wealthy city, where 93c,. $105, for hésvy and heavy to good ;te- cluding ‘oe 10, and 30,000 ibs. and washed at 9c. A >1 0, and 35,000 bs, California at 600. & T7}4@., for tutert r 10 eBorwe. Wiser. —Receipts, 1,137 bbla ; the market is firm, bave contracts ma- renuous efforts wo rowing impression under the present excise tax of $1 50 per gation, whiskey isa perfectly safe article to boid at current rates, and that there are substantial reasons for ap ece tustead of a decline: sales 3,100 bbis. at $1 70a $1 75--the latter an extreme price; sales reported at $165, but they could not be traced to any reliable source, NEWS FROM THE SOUTH. The Prolongation of the War. SUCCESS TO BR KEACHED ONLY BY THE DESTRUCTION OF THR RESOURCES OF ONK SIDE OK THE OTUER— THK ADVANTAGES OF THS SOUTH— SOHEMR OF HOSTILITIES, BTC. but irregular, The bear party, turing at low figures, are mak: depress the market, but there among the trade th only be reached on either side thro the other‘samaterial resources. The North bas lapg ago paired of conquering the “rebellion” by regular ope- ratious in the fleid, and are acting on the theory that bjugation cap be effected only by desolating tho ‘South. ey bave been practicing on that theory from the be givning of hostilities; but the present campaign hes been especially siguahzed by a hearticss ang abandoned atrocity characteristic of that people while carry- img it into execution ‘The scheme gratified with the acquisitive propensity of the Yankee race, aud was a convenient exguse for thefts, robberies and beastiati- lies, which, but for it, would have been committed without excuse. yet the proposition on which they pro- fess to act is certainly true: that desolation and extermi- nation are the only possible means of subjugating the «oe therefore, that the war bas arrived at the stage in which the indiscrimiuate destruction of property is acknowledged by one party im the contest to be thei: only object, and the ouly mi by which they expect success, the question arises, whether the South hag not ‘as great an advantage over her enemy io that mode of warfare as she bas shown herself to possess through the prowess of her armies in the regular and honorable methods af combat. . ‘According to the old adage, tbat people who live is ‘lag houses should be the iast to throw stones, the ‘ankees bave set @ dangerous example in embarking upon the policy of an indiscriminate destruction of pro- perty as a scheme of warfare. The armies of the con- federacy have, previously to the preseot campaign, three times invaded the federal confives—twice in Maryland and Pennsylvania and unos in Obio. In all these expeditions they scrupulously respected private property, and cos- fined the destruction inflicted to Lean 4 strictly public or contraband of war. The respect they layed for the usages of Civilization and the humane ples pre- scribed for military commanders by D casuists bas not been imitated by the enemy, who’ hav indulged \e « ltopationsnese as extremé as their own forbearance exemplary, "the enemy have themselves converted the war into an indjscrimipate ovalaught upoa all property, public and private; and the idea is notto be tolerated that such » warfare can longer remain sided. If they go, on with their grand scheme of jucipg the ‘‘rebeilion” by lay ing waste the Confederate territory, the Confederates must meet them on their own ground and with their own weapons and tactica In acontest who shail destroy most rty, the advantage is oot altogether on the Bi the party which can muster the most men, but may be shown to lie on the side of those who, baving lit tle to lose themselves, are in the best possible condition and frame oi mind to piay the game of havoc with an adversury who pas much to lose. If General Grant @ army were allowed to march from Alexandria to New Orleans, and Shermun at the same time from Loursville to Savannah, while our own, armies were quietly withdrawn from their front and sent in detachments of fifty thousand each, by four or five different routes, into the enemy's country, the Yankees might, on their own principles of wartare, be made to suffer heavier loss every day than they could intiict on any month of the unequal contest. It is war is to on upon the policy foaugurated by the ‘ankees themselves, the South would be very stupid if they consented to conduct a single additional campaign upon the principles she has herotofore observed with such “ lous honor. The North compensates ber for all the dis- e suffered from inferior numbers by inaugurat- ing ascl of hostilities upon which those who have ‘most to lose are obliged to sutfor most heavily. If plun- der and de tation are to be insisted upon as the legiti- ‘mate, jects of bost: on the enemy’s part, then 3 kath did oo retort this policy upon their own territdris wing our opereay peopled. lands "and scattered Fl" dojangi ‘wealth to take care of itself, assaming the offensive carrying fire and sword into the heart of the North. If the Yankee generals can find their account in avoid. fing pitched battles, studiously flanking our armies and devastating our country by raiding detachments sent out from their main invading bodies—if Yankee generals can make this policy pay in @ country asthroly sevtled, where, y iw as much seattered ag in the South, surely our jerals can make the same tactics pay ip roads fe lea, where jeg re Bey iors at every few mi wi a Y whole land is cut up into smail farms, and every farm is @ granary and ttle pen. tbe Yankees have taught us the of the ‘‘movable ‘colump,”’ and the terrific meaning of indiscriminate plun- der and devastal ‘hoste doceri. Shall we The Prospect of Peace. the Richmond Sentinel, July 22,° fe knowgit foresee and rash to speculate about the future conduct of guch men, yet we think we see in the signs of the times a dire ity that is about to compel them to make peace Te ur sqscsees are Gernot to fail them. fbey will very soon have neither men nor money wherewith to on war, Greenbacks are Substit cannot be bought with them, except at a ‘ice 80 enormous very few can afford to give it, The rich ,will be enlisted with the poor in opposition to any attempted draft. The mob in New York in opposition to the first drait would jeceeded but for the watt of leaders. The rici the well informed and influential, would not take part it, because they felt no personal interest in it. The three Pro ahaa proviso exempted them, The case is now altered. In requiring.fifty days’ notice of a draft, Congress, in onect, doteated the object of acralt. to less than titty days the term of seryice of one hundred thousand undred days’ men expires. felore such a draft uid be carried into practical effect, Lincoln would, Derides, lose a hundred tl 1d Of bin veterans, whose terms of service are abont to expire Add to these at Jeast a hundred more thousand for the killed and wounded in battles, for deserters, and for those who will matu- ral deaths, and you diminish the Northern ready much too small to with us successfully) at least three hundred thousand men. Lincoln, seeing that his cause is hopeless. does not order a draft. We believe the Democratic Convention will nominate a perce candidate, and that his nomination iil probably witd up active hostilities, if mot end the r. Northern Peace Sentiments. r= the Richmond Djepatcn, July 23.) - ‘That the mass of the Northern people, if they could be permitted to vote their secret sentiments, unawed by Dayonets, would to-morrow vote for peace on tho basis of separation, rather than encounter the possib'e conse- quences of an indefinite prolongation of this contest, we do ‘not eotertain the shadow of a donbt. =, are sick at beart of the senseless waste of blood and treseure, and boginning to see that the rostoration of Southern trade and commerce is not to be obtained by the expen- duture of any amount of gunpowder, bombshoils, they aro fast discovering, are not the kind of currency which produces cotton and tobacco. But the tb pence sentiments of the North can be of no ical avail to the Cemfederate cause till Confederate onets overthrow the armics which sustain the Lincoin despotism. We are fighting the battles of freedom in the United States as well as in our own country; though we fee} no anxiety to aid in the emancipation of who bave sought to enslave ourselves, yet, if their deliver- ‘ance will hasten the termination of this war, our labors will not be without reward. We look to our armies as the only paciticators whose intervention will have any infiaence in the quarrel. We look to the camp as the oply ark for the dove of peace, and to the storm and deluge of the battle as the only spot where It can find an oilve branch. Such reflections should inspire the hearts aad nerve the arms of ev: soldier of the confederacy. Literally and traly, the only earthly hope of pease is in their success, Let every general and every private rea- lise — truth in all its bearings and who can doubt the result. v Dissolution of the Rebel Confederacy Reoom North Carolina Seced- ing—Dne P' for Reconstruction, d&ec. Raleigh, N. C., Conservative of July 13, after com. menting upon the movements of the reconstruction party nd the erection of North Carolina into an \ is State, says:— But we might show by argument that 4 willingnem to Meet the Northern States ip convention im- ‘a willingness to reconstruct. If we should meet North ip convention—we use the term in the sense of ar? io the samo articto from which we make the above extract, we find the following ianguage:— ‘Better to let each State set up, temporarily, for itecif, than continue the war.’’ Now what does this mean? It has been charged and Proven that Lae A Fay owen a advocated the con- ‘vention in or of snadruteg North Carolina from (ad cmtcartag, The denied the charge with much aj io dignation, But that now comes fout for ne. cession. “Lat each Sot up for itnelf rather than com- XT: eww we Minje bullets and+ a wounded, bat old them, tetling them that if Huntor would come at be i be permitted to move them without molestation, He went, but was eo frighteqed that be left without them. A short time after this about sixty of the marauders ragoived on killing or capturing tbe old man, and accord- ingly started for the house. it was on a Sunday, aud bie The New Schedu' msi tne Ca: [From the Richmond Dispatch, July 23.) ‘The voice of the press and of the public seems to be unanimous against this schedule. It does aot even satisfy the farmers, although they are to get thirty dol- lars a busbel from the government for it, The farmers Cannot but see that the act of placing such @ price upoo wheat makes the currency in which it is paid worse than nothing, They know what @ busbel of wheat is and what it is worth, measured by the standard of labor ‘They have been always in the habit of paying for reap ers the carrent price of-one bushel of wheat per diem. bey are told thatin the movey they are to receive 6 work cannot be fairly paid for with less than thirty dollars, what opinions will they form of it? It is principally becauge it undoes all the labor of the last Congress, and dogrades the curreuey, which that Congress took so much pains to improve, that we object to this schedule. Itis framed precisely as though no such laws as thoze of the last seselon had ever been —precigely as though we we were stiil under the Pleasure of Mr. Memminger’s paper mill, and liable to a deluge of Treasury notes to the tune of hundreds of mil- lions every hour io the day. Jt plays into the hands of Speculators, avd those interested in depreciating the currency, and it renders utterly nugatory all the lays Of the last session. and this, too, at a time when movey is extremely scarce from the enormous amount withdrawn from circulation. We leara from a contemporary that the Governor of Virginia is using every exertion to call the attention of the President to this state of the case, We trust that he may succead, aod that a meeting of the commissioners muy be immediutely called to rectify their terrible mis take. Thabthey moant well nobody doubts; but they bave blundered fearfully,.and tearful may be the conse- quences, unless they be arrested in mid career. reached unhermed, ami Some of bis pursuers when Ly him, fearing did some of Hunter's men, Horrible Scene. THREZ WOMEN BURNED TO ASHES IN THE Jar, av AT, BCHOLASTIQUE, CANADA Easy, [From the Montreal Herald, July 29.) A correspondent who went from this city to St, Sche- lastique furcishes us with the following parrative:— I regret much that the rumors of the loss of life ar@ destruction of tne Court House and prison at 8t. Sobolag- tue are too e. On Tuesday night, Between the hours of eleven and twelve o'clock, the fire was first dis covered in the Court House, ix that portion of the first floor occupied as a kitchen’ by the jailer, Mr. Quiom, The servant sleeping 10 the adjoining room was the first who gave the alarm; this was about fiiteen minutes to twelve o'clock. On awakening, Mr. Quing immediatety descended to examine where avd to what extent the building was on fii but, jostead of Instaatly returning, he left the building toalnrm the sheriif, who resided about one and a half acres distant. When he returned it was too late; the fire and smoke bad extended from the kitchen to the oul stuirway leading to the cells, Is 1g but right to sey Mr. Quinn told Mrs. Quinn and the turnkey to release the prisoners, sbéuld they think it re- quisite, beiore he returned, Mrs, Quinn deserves credit for making exertions 89 do 0 but unfortunately she mus overpowered by the that the stairway, becoming exhausted, had barely time to return to her own room and rescue her three little children, the youngest being an infant, About this time the alarm ‘was goveral, the villagers rallying to render such assist- ance as they best could, Picture therr horror op finding ‘tbat within that burning tomb were six human beings om the poiot of perisbing by the fire, if not speedily reteseed from witbout, The shrieks of the three men confined ta the foner cells imploring aid could be heard above all other noise, Men seemed paralyzed. The ceils are built to contain ‘isoner in each; and each bas a heavy 1ron-g1 door at {te entrance, bolted and locked. So confined, the inmates could not leave their cells to appear at the outer grated window, The fire was now tn the al below ‘and spreading with great rapidity, No ladders to ascend the windows could be found about the premises; but from achurch ata dis- tance of a quarter of a mile one was subsequently ob- tained Fortunately the flooring between the fire and the prisoners was thick and deadened, keeping it from them at the time. When the ladder arrived a mam mounted it, taking with him a sledge hammer. Ine mo- ment the sill of the passage window was broken to apd the fron bars gave way. Two courageous men jumped to the bottom of passage, ten feet da depth. They bad no key to open the doors of the cells; bot the sledge hammer was banded to them, and a few strokes did the work. The prisoners were now relerse@ from the cells, but death yet stared them and their rescuers in the face; for the window was ten foot from the floor. But ropes were banded to them in time, and they escaped with life. While these.events were taking place in the second story, three m unfortunate pr soners were known to be in the stor; va them. These were not confined in cells, and the: full acess to the windows; at one of which was one of the unfortunate victims piteously imploring ‘Mon Dieu seuvez noust gauvez nous!’ Above ner pale face the dense black smoke curled, as if gloating over its. intended vietim, To relieve her was now beyond the power of man. women and children, who were spectators of this scene, fell on their knees, praying the Almighty to pity her. At the topmost step of the fragile ladder, were the fect of the Kev. M. Baroabe, with hands clasping the Correspondents Prisoners of War. {From tbe Richmond Exaafiner, July 21.1 Mr. Davia, correspondent of the Cincinnati Commercial Bewspaper, and Mr, Zsiteler, eorrespondent of the New York Heratp, accredited to thoge journals, and several other reputed correspondents, bave been forwarded to Salisbury, N. C., in conformity with imstructions from the War Department, through the excbange bureau. Mr. Francia, correspondent of the New York World, is re served for special exchange. The: Lincoln government bolds “Asa Hartz” and a number of other newspaper correspondents and literary gentlemen. and upon their Sigai'ying acquiescence to a fair swop” with bome- thing ‘to boot,” they can be accommodated. In Libby Prison. The following members of the Oue Hundred and Forty. sixth New York State Volunteers were in Libby Prison oa June 5, 1864:—John McGlauchiin, Co. E; John CO. E;-Jono Hays, Co. E; William stant, Co. E; W. J. Scott, Co. D; David Coon, Co. D;. William Hess, Co. D; Frank Laygaa, Co. D; Joseph Sealens, Co. D; Willian H, Piatt, Oo. I; J. '%, West, Co. L Mr. Memminger Unjustly Charged. (From the Wilmington Journal i It is unjust tocharge Mr. Memminger with all the sin for the derangement of. our Gnancial affairs, The late acts of Congress were not in accordance with Mr. Mem- wmloger’s recommendation by any means. No doubt Mr. M. has gins enough to dear, but it is uojust to charge him with that which he is not gutity, Interesting Hi jas Corpus Case. SUPREME COUST—CHAMBEKS, Before Judge Barnard, Jory 22.—In the Matter of the Application. of Mathew Bramaghin.—1his was ao application to admit to ball Mathew Bramaghin, now in the custoay of ‘the Sheriff of Albany, on charge of murder. The Sheriff made a re. turn, stating that he held the person of the prisoner by virtue of @ Coroner’s warrant, which charged him with the murder of Charles Phillips, at the Delavan House, Albany, on the 30th of November, 1868, District Attorney Higgins, of Albany, appeared in court, and stated that he was not prepared to oppose the iron bars, imploring the creature to prepare to meet ‘motion at present, and asked for @ postponement of a her God.’ Here this pious man, at the rick # bie fow days, inorder to procure affidavits going to show | ire, gave the dying creature the last consolation of his that the Court of Oyer and Terminer in his district bad already passed upon the case, and bad decided not to re- lease the prieoner upon bail. He had ouy recei ed notice of the application an hours ago, and was entirely uo- pre} to goon with the-case. Mr. William J. Hadley, on bebalf of the prisoner, that thematter should go on at once. He contended the Court of Oyer and Terminor at Albany bad not passed upon the case, but had adjourned sine die without render- ing any decision. chureh, Ere it was completed the bleck smoke became red and in it the girl fell back to be neither heard nor seen again. Her mother and sister were yictims with her, ooh bears of them was seen or heard from the out- e born infant: The eldest daughter hadgiven bi ine her mother was accused of the strangling of it, poor youe aut whom we saw at the window held as w: ageinst them. To-day the remains of ene Barnard, after hearing the arguments of the | of them were found in the stove. No doubt the selon both sides, decided that the motion to admit to creature ad forced herself into it in an attempt to bave bali should be heard. her life. Mr. Hi Case proceeded to cureee men anauion ot aoe case was one of deliberate mut- ‘Tor PHILavevrata Atusmoves CatasTrorae—Vanone oF THE Corongr’s Jury.—On Thursday calamity at the Blockley Almshouse, by lives were lost, met and rendered the following verdict:— he on the 20th day RAD 1864, the victims of the digaster came to their deaths by reason of i fligted by the falling of the-division walls, with the floors resting on said walls, the primary cause being the careless manner in which the walls under the come tre pier were cut away in constructing and introducing beating apparatus in the year 1849.” _PROFOSALS, with title of work for be affe sits ones ul itoieek: AM. of Thursday, August My 1864, for the coustraction of ‘sewers in the following streets, to witi— Tenth avenne, from Thirty. f¢ wo Sonn Aca ag pr anh are of Albany who could dis; held tbat the case was solely one of homicide, and that there could not be any conviction exceps for manslaughter fn she third or fourth degree. Attorney Genera! Cochrave on behalf of the people, and coincided with District * At (j0Tow Aquepvcr ~DEPARTMENT—T0 contractors. —Separate sealed proposals, each en: yf ite presentation, will be Albany tn his views as to thecase not, ‘Thirty eighthietreet, between Eighth and Ninth avenues, Q 2 Third, from’ Ninth to Tenth street; and nor ‘ance 10 Hudson street, from Beach to Hubert street, ieations dod blank forms for the bids can Spect ‘tain oa ti clerk at this that he:would adjourn the 04 on application 40 the coat As ee Te i te : ioe ia Palle oA oret wee me nt lermiver to mf 16 prisoner to . the mean- time the accused would be taken in chargé by one of tho | ()HCE,,O% THE STREET COMMISSIONER, 397 officers of tl rt, and confined in this city until the watter was disposed of. Fearfal tastro| To Contractors.—Proposals enclosed in sealed en' endorsed with the title of the work and with tbe = the hidder written thereon, will be receive: until Wednesday, Ai 1864, at elever tt clock he=Four Children a For regulating, grading curbing, Burned to Death. dus mike wy ile, dis twenty,eight Broedway. from Beves tieth io Saree ae ee miles (rom Madison, Ind., the Courier of July 23, in rex avenue to Bloom! 1 road. & piensant farm house,’ surrounded with almost rine saree honey a Geecing Ninth avenue, frem everything to render Jjife desirable and full of earthly For curbing, guttering and fiagging Fortieth street, from comfort, lived, afew days ago, Mr. Edward Maloney and } pint to sixth avenue. family, consisting‘of bis wife aod five children—two girls thi 4 gutter in Forty-ninth street, from and three boys—whose ages ranged from five to perbaps Tenth’ peste Honea tives, i thirteen For flagging Rreadway, from Fifty-fourth street to Fifty. years. Day before yesterday, the father coming bome early in the afternoon, some 1 him there had been a man, about the vicinity, from whose ered that he was ‘tha children told | Binth tree. Broadway, from Forty-seventh street to a retagying Broadway, from Forty-ninth ‘Bighth avenue as a country road, from 14th to greenacks so the b eoeer, working il datiaciaen For rebuilding pler No. 46 North ri pny ogy eg in For rebutaiog ikhead between pire Nos. 61 and 6, evening subsequently wad there fire in the house. At | “Porrepairing pler No. §S North river. the all retired to rest, For repairing pier No, 52, North river. mother ia lower room, and’ the children all excavating: colley and fitting up \basement of hoasy foxether in room on the second floor, in which they | of, Engine Comrany. together with the spectications alos they were ewazeaed frSe wwuel sleep and'pies, | Cigcsripmontscon ne ototned ahah ie, : o’eloc! ey wero a a an Ne 1 1 savt dreams to tind the mansion in comees The olarm Bx CHARLES G. 00 NEL aireet Commiesionen, apeonding, @ few kind neighbors hastened t the spot. = r SSS and with’ difficulty the parents escaped through we MATRIMONIAL, flames that had already enveloped the entire lower story | ~~ ann Of tbe building, which waa et tp petty YOUNG NAVAL OFFICER, OF GOOD BTANDING A however, it was impossible to rescue. Tho fire raged with in the service, snd with on seaple lecome, Godices 10 fury below and all around them, cutting off all chance vt [’syip view to matory, A rosetta tan pruement. those beneath getting to them, and at the samo time pre ir t 8 requested? Kidress Rebt. Fortescue, venting their escape by the stairway or otherwise, The } U. 8 8. mond, New Orleans, La. cries of the poor little unfortunates for mother and father to come HE AGED PARENTS OF A Yo! 4 beartrend: T old, of oes wad a Priced ith ot Sipser mind, Soe “ Lapa for him & of gonial vemnperament, ‘who Ww vane Gare and attention to him That they hare given for th they are no longer al to bestow. mangled condition, though are entertained that under good treatment she will recover. Another of the rescuing her darling loved ones, The oldest child | M% years. and which finally got out at a window and threw herself to the | dolinrsa pear; wuic Will BC intercon’ ot igo eo ueRTe ground, trom which she taken up in a horribly | parents. should he survive them, aude mausfactory wits , Very suscep’ children also in some manner sueceeded in getting out | 1 Fe perogaier cane a le perernee upon the burning rot, throngh which, however, she wat eriess ecco Ho vas reeelyed' & warwi seen 5 bad id and high nterta | hers. The fire, after completing its awful work, | memory ie hail Bimat Gongs of wenty to “q finally died out, and the sun, wh: rays the | His const deme is to r. He ie fond of . night before illuminated the mansion of that rer was a mass of ing ruins, in which lay buried the charred remains of four Innocent childreo, wha had been the lightand joy of the household. Another, the only remaining child, bruised ‘and suffering in body and mind, the mother, de. Prived of her sevees, ber heartstrings dethroned by the painful intensity of ment and 1y, and the poor father in tears and Of spirit, retusing to be comforted because ones wore not. Fighting Quakers Frederick County, onl } From Hagerstown Herald. A member of the Society of Friends, who resides in county, Maryland, named Wm, Rrown, was @alled upon one evening at his residence by which be I AMON DS, PIANOS, FU RMIT! f 17, PAWNBROKERS’ TICKETS WANT on i Me Ow Diamonds, Waicnes, Towely, aes mou ity, re Bieecker ittreet, ‘Speirs. ae os 7. MONRY LIBERALLY ADVANCED A877 On ; bie house, took up his and return T 6O%—MONEY LIBERALLY ADVA Df hot the fellow ia tne moult and face. On rocelvin mnonds, Watshew dewelry raver Pireas hy Coptenta of the gun be fell, and remained there until re- e., Pawnbroker's ete wanted ‘of as, moved by a Union mam named Baker, who removed him en, Jewelry, Guna, Pistols, &c., for which il pa to some place where be bas been care of, and tee ey i Gretees ne Joa Bee, ‘atany cee Bae where he is likely to recover. maakek , Corner of Houston street, Soon after this éceurronce, a band of the same class of | ai men, fifteen in number, headed by # well known rebel by wo the wound: the name of Hunter eg prone SEs ing 1 48 BROADWAY, ROOM ANORD O} fy Scr" Rapides Sp fee wd rgd Guns, Pistoia, Silke, Furs, &6., at rolaeen TB. HYMAN'S, 666 BROADWAY, RNER Beare ie Poa ee The Wateet fh a for Diamonas, set or unset, Watehet and Silver or Will advance cash on the above articles, 658 . corner of Bond street, Silver Ware, dusical teu: usical 4 tall other goods, Bowery, under Of T 18-1 NBROKERS’ MOKETS P Ay WcAeryaEES unos ments, Guns, Pistols, se otreet, third deor weat Arp App ADA» EXP PRE BS URNA. FORNITU: EXrPR FFICE Bolmba tia sna ain te tyr: ipped tea paris of moving Furniture Ia ity oF county, Fapaituay erered. n A. " tering and flaggieg {were _.