The New York Herald Newspaper, May 18, 1866, Page 4

4 EW YORK HERALD. JAMES GORDON BENNETT, EDITOR AND PROPRIETOR, N OFFICE N. W. CORNER OF FULTON AND NASSAU STS. TERMS cash inadvance, Money sent by mail will be aithe risk ofthe sender, None but bank bills current in New York taken. THE DAILY HERALD, published cvery day in the year, Four cents per copy. Annual subscription price, $14. THE WEEKLY HERALD, every Saturday, at Five ‘Annual subscription price: cents per copy. One Copy. Three Copie Five Copies... Ten Copies Voi me XXXE...... seeeeees st eeeeeenee «No, 138 AMUSEMENTS THIS EVENING. BROADWAY THEATRE, Broadway, near Broome street. —Mazerra. WOOD'S THEATRE, Broadway, opposite the St. Nicholas Hotel —las Euvas—Caosaina raw Line. SAN FRANCE RELS. 585 Broadway, opposite Metropolitan Hotel. MAN SINGING, DaNciNG, &0.— Janus STEPHENS AND GEORGE CHRISTY'S—O1p Scmoou or Minstasrsy, Bautavs, Musicat Guus, &c.. Fifth Avenue Ovora House, Nos, 2 aud 4 West Twenty-fourty street.—Parse Purxs, on tux Max Avovr Tows. TONY PASTOR'S OPERA HOUSE. 201 Bowery —Stv1- mo, Dancing, Bumuxsques, &c.—Tax Outcast or Kut- LARNEY. BRYANTS’ MINSTRELS, Mechantos’ Mall. 472 Bronte FAY Nowe Courcarimies, Bunuesques, &c.—Tur LEannep LEPHANT. 18 Starr. BROOKLYN ACADEMY OF MUSIC.—SoLow Saincur— ‘Tur Harrixsr Day or My Lire. HOOLEY’S OPERA HOUSE, Brooklyn,—Ermoriax Mie BTRELSY—BA.Lans, BURLESQUES AND Pawromiaes, NEW YORK MUSEUM OF ANATOMY, 618 Broadway.— Open from 10.A. M. till 10 P, M. New York, Friday, May 18, 1866. “TO ADVERTISERS. Advertisements to insure a proper classification should be brought in before half-pagt eight o'clock in the evening. CONGRESS. In the Senate yesterday Mr. Wade submilted an amendment to the House resolution proposing an amend- ment to the constitution of the United States. A bill was passed prohibiting the carriage of nitro-glycerine on vehicles used in carrying passengers within the juris- diction of the United States. The Diplomatic Appropria- ‘Uon bill was passed, with an amendment creating the office of Second Assistant Secretary of State, at a salary Of $3,500 a year, ‘The West Point Academy bill was passed, with an amendment providing against the appointmnt of all cadets who had served in the rebel army or navy. In the House the bill authorizing the use of the metric system of woight and measures was passed. A joint resolution authorizing the President to appo‘nt a apecial comm ssion to negotiate with foreign goveraments for the establishment of a common unit of money of identi- cal value in all commercial countries adopting the samo was passed, The Tax bill was thon taken under consider- ation, and two or three material amendments were adopted. A letter from General Grant in relation to the necessity for the reorganizition of the army, was re- © ived and referred to the Military Committeo. THE CITY. The Board of Councilmen met yesterday and concur- red with the Aldermen in adopting a resolution directing the Corporation Counsel to diszontinue all further pro- ceedings in the mattor of widening Ann and Fulton streets, A resolution was adopted directing the Com- mittee on National Affairs to procure a stand of colors for the First and Third regiments of cavalry and the First regiment of infantry, at » cost of four thousand dollars. An ordinance transferring from the City Ia- spector to the Street Commissioner the jur'sdiction over the Corporation Yard and the appointment of the keepers: of it was adopted. After the transaction of a large amount of routine business the Board adjourned till Monday. The joint committee of the Common Council on the subject of the removal of stoops and railings from Fifth avenue met yesterday and heard a good many persons for and against the projrct. There were a large num- ber of property owners present, who organized thom selves into a society to oppose the measure. The com- mittee adjourned till Monday next, without taking any action. A special meeting of the Chambor of Commerce took place yesterday to hear the report of the Committee on Weights and Measures. The report consisted of a verbal advocacy of the metric system and a series of resolu- tions in favor of its adoption by Congress. The report, with the exception of oae of the resolutions, was adopted. ‘The Corporation Attorney has taken judgment against several dealers for false weights and measures, Suite are also pending against the city railroad companies for fast driving. All men who acted ag substitutes for car- drivers during the lato strike without |. conse will be made amenable under the penalty of ten dollars. Not Joss than one hundred of these cases are now pending. The business of the excise authorities is still pretty brisk at the headquarters. The receipts for license feos up to last evening wore nearly three hundred thousand doilars, Jadgo Ledwith has decided that ths attornsy of the Exciss Board cannot appear as prosecutor against Jiquor dealers for violating the new law. Twobarkeepers wore fined, one fifty and the other thirty dollars, for olling liquor on Sunday. Mr. Stephens, the Head Centro, 1s expected to take his Acparture from this city on a tour through th> States on Monday. A secret committee sat yesterday at the Metro. politan, to make arranzements for his route. The Moffat am ins‘on is closed altogether. ©The History of America Before Columbus,’ was the nubject of a lecture delivered last evening at the Cooper Institute by the Right Rev. Bishop Lynch, of Charleston. ‘Tue evening was inauspicious for the occasion, yet, not- withstanding, there was a very good attendance in the large hall. The proceesings did not commence until eight o'clock, at which hour the Bishop entered, and was vory warmly received. Ho treated the subject in a very able manner, and entertained h's audience for up- wards of an hour in the del.vory. ‘The strike of the ship carpentors, joiners and caulkers #1 continues, According to the statement of the wrikers, they are resolved to hold out, and the “boases"” fay they never will yield to the demand for the eight hour sysiom. Tho latest particulars concerning the strike are given in anotuer column. * The Saxton divoree swt, in which a Connecticut minis- tor's wife is the plainwitl, was again up before Judge Bar- nard yesterday, in the Suprem) Court, Chambers. The motion to open the docrec already given was granted, ‘and the ontire case will be heard before the court at some fature time, thro» days’ notice to be given. Juage Harvard again alluded to the fraudulent practices of law: yera who advertise “divorces procured without public. ony Fire and Marine Farmers’ n ant fea (lod yosterday in part wprents before Judge Foster. Didetds allege that thoy were the trustees ihe Racine and Missiveippt Raflroad, and insured alt “ucir property In that vicinity with the defendants, in ‘connection with Other Imsuranc® companies, Last yoar go belonging to plaintiffs was burned at Ra ‘od this suit was brought against the company to co npel them to pay their proportion of the insurance. | ‘To Jury brought in a verdict for plaintity for $1,715. A suit growing out of the purchase of stock from the | Dorthern Light Oi Company, by Cortland Kelsey, was | e NEW YORK: HERALD, FRIDAY, MAY 18, ~ Ww 1866, 2 A lated by the defendant. After the rendering of judg- ment the counsel for defendant obtained a atay of pro- coodings from Judge Jones; but Judge MoCunn imme- diately vacated the order. The two judges were thus placed in direct conflict, The caso of Rey mort against Mills, recently published in the Herat», came up before Judge Gross in the Marine Court yesterday. The verdict of the jury will be rendered this morning. ‘The inquest on the body of Preston King, late Collec- tor of the Port of New York, was commenced yesterday before Coroner Lynch, of Brooklyn. Several witnesses were examined, when the caso was adjourned until to- morrow (Saturday) at teu o'clock A. M. Two deaths occurred on the hospital ship yesterday, neither of them, however, being occasioned by cholera. David Deans was robbed on Wednesday night in Irving plaee of twenty-three hundred dollars in Treasury notes and nine thousand dollars in insurance stocks and rail- road bonds, The thief has not yet been arrested. William Coulter was tried in the Court of Oyer and Terminor yesterday before Judge Ingraham, on the charge of murdering a private watchman, in Thirtieth street, on the night of the 14th of February last, while in the commission of a burglary. The examination of witnesses for the prosecution did not develop anything to sustain the charge, and he was acquitted, and re- manded to answer a charge of burglary. On Thursday morning a fire broke out in Betz & Co.'s brewery, No, 849 West Forty-fourth street. It was speedily extinguished, but not before it damaged the stock, machinery and building to the amount of ten thousand dollars. The stock market opened dull and closed strong yesterday. Governments were steady. Gold closed at 129% a 130. Business was very moderate yesterday and thero was less buoyancy and firmness than was noticeable on Wednesday, still there were not many changes in im- ported merchandise, but domestic produce was irregular and in the main lower. Cotton was the leading excep- tion, prices remaining very firm, though demand was decidedly less active. Sugar was dull and heavy. Coffee declining, with scarcely any demand. On’'Change, flour and wheat were inactive and lower. Corn was also in- active, but prices were no lower. Oats were steady. Pork somewhat irregular, closing heavy. Beef steady. Beef hams scarce and firm, Lard firmer. Butter and cheese dull and heavy, Petroleum a shade lower, and whiskey dull and nominal. MISCELLANEOUS. OMMcial despatches tp the imperial consul of Mexico in San Francisco, received on Wednesday, stale that the recent dofeat of the liberals in Michoacan was a com- plete rout. Tho occupation of Tanistaro by the French is reported. Mr, Romero, the liberal minister at Wash- ington, recelved dospatches yesterday from official sources informing him that the French had been driven from their last foothold in Tabasco. Escobedo, according to Brownsville advices, was preparing to advance on Monterey with two thousand men. The imperialists had reoccupied the Pacific coast, Smith’s plan for draining tho Valley of Mexico had been accepted. About four thousand acres of woodland were burned in the vicinity of Sandwich and Monument, Mass, during the present week. The loss is about fifty thousand dollars. The two hundredth anniversary of the settlement of the city of Newark was appropriately celebrated at that place by the Historical Society and also by the civic and military authorities, Addresses suitable to the occasion were delivered in the First Presbyterian church, and during the latter part of the day a procession of fire and military companies paraded through the principal streets of the city. Our correspondent with the investigating mission of General Steedman writes from Charleston, 8. C. He finds the state of affairs in the Palmetto State similar to what he found in Virginia and North Carolina The great drawbacks are too little capital and too much bureau. Sixteen friendly and peaceable Indians were murdered by white citizens near the mouth of More's creek, in Idaho Territory, on the 7thof last March. Foerteen of the Indians were women and children. There is no rea- son given for their murder, and the Governor of Idao is rigidly investigating the affair, The Post Office Department has issued ordera suspend. ing at an early day the mails in South Carolina untila regularly commissioned postmaster, who is capable of taking the test oath, can be appointed. The election of a United States Senator by the Con- necticut Senate has beon postponed for a week. The Virginia Uncondi' ional Union Convention met at Alexandria, Va., yesterday, with John M. Botts as Presi- dent. Horace Maynard, of Tennessee, delivered an ad- dress. The Maine Soldiers’ Convention met in Bangor yester- day. Gor J. P. Cilley was in the chair. ‘The anniversary mectings of the National Baptist Home Missionary Organization are being held in Boston. Their total receipts for the year are reported at one hun- dred and seventy thousand dollars. British Honduras advices to the 10th inst, have boen received at New Orleans, The colony was healthy and prosperous, Draining and agricultural improvements on ‘a large scale were progressing. Eleven men belonging to the crew of the ship Escort were charged yesterday, in the United States Commis- sioners’ Office, by Mr. Henry W. Sherman, the first mate, with having mutinied while on board. The vessel has recently arrived from Liverpool. Evidence iu the case will be taken to-day, The case of the United States vs. Otto Burstenbinder, who is charged in counesction with the nitro-glycerine explosion at San Francisco, was before Commissioner Betts yesterday. Counsel for the government and for the defendant summed up the evidence. The Commissioner reserved his decision. Judge Ballard, of the United States District Court, in Louisville, Ky., has decided that General Davis ts crimi- nally responsible for resisting the order of arrest made in his case in connection with the Isham Henderson affair, and has ordered his indictmont by the Grand Jury. A frame tenement in West Troy was destroyed by fire yesterday morning, and a child two years of age perished in the flames. Forsion Inrerrerexce Propvctxa Revotc- Tioxs IN THR Socruery Repvsttcs.—Mr. Seward’s hopes of peace and tranquillity in St. Domingo under General Bacz as President appear to have been ill founded. Another revolution—the second this year—has disrupted that government, and is rapidly lead- ing to a war between Hayti and St. Domingo. When Geffrard, last year, with the foreign aid tendered by the British man-of-war Bulldog, had suppressed the rebellion of Salnave, that redoubtable warrior was permitted—at British instigation, it is satd—to escape toSt. Domingo, in order that he might stir up rebellion there. Baez succeeded in suppressing, capturing and kicking Salnave out of the island; but the work begun by the rebel is now culminating in the deposing of Baez. We shall doubtless never have peace in the West Indian and South and Central American republics until the power of the United States is manifested in such a way as to practically forbid British and other foreign interference in the domestic affairs of the numerous miniature republics which Mr. Seward describes as “the buttresses of our great republican fortress.” Tar Tat or Jerr Davig—It seems from the Washington telegrams that Chief Jusice Chase has consented to preside at the trial of Jeff Davis under certain conditions—that is to say, if the troops be witbdrawa from Rich- mond and martial law suspended in Virginia. We really cannot see any occasion for such bargaining on the part of the Chief Justice. It looks as if he desired to escape all respon- sibility as to this trial, either for politioal) tried yesterday in part 2, of the Supreme Court, before Judge Mullen, False allegations on the part of the com. pany as to their condiijon wore stated to have been used fo induce Mr. Kelsey to purchase the stock, and he ‘Drought this action to recover his money, with Interest. ‘The jury gave a verdict in bis favor for $1,103 17. Judge McCunn yesterday granted Jadgment in favor of ‘A. Stewart against William ¢, Barker, tenant of the premises Nos. 48 and 60 Duane stroot, fhe leaks OB. tained covenants not to sublet or use for extra hazardous Syusiness, bots of whigh the vlainiif contonds, were vio reasons or becanse he used to be as ardent an advocate of State rights as poor Jeff himself. | If the Chief Justice does not wish to try'the Head Cenire of the rebellion let soms other judge be selected. As for martial law, the ity of the Supreme Court will be less affected by that I bas glready been by the tour of the Chief Justice through the South to make incendiary speeches to the negroes, Mr. Gladstone's Leek into the Fature— England and the United States. The speech of Mr. Gladstone, in the British House of Commons, on the 3d inst., on the na- tional budget, the national debt and the national resources, and especially in reference to the present commercial ascendancy and future prospects of England, is a speech which marks ita author as one of the foremost statesmen of the age. From a budget of the most interesting facts he weaves the most convincing argu- ments and presents the most startling conclu- sions ever submitted to the British Parliament. Reduced to a single sentence, this comprehen- sive speech is an appeal to the Commons to provide without delay for the payment of their national debt ; because, from the drain upon her coal mines—the sources of her strength— the day may be predicted when England, even under the most favorable circumstances of a continuous reign of peace, will be shorn of her locks and reduced to a second or third rate Power. In regard to the national debt, Mr. Glad- stone says:—“ We have effaced the results of the Crimean war, and the debt thus stands at the very place which it occupied at the com- mencement of the year 1854;” and seven hun- dred and ninety-nine million pounds, or say four billion dollars, in round numbers, is the figure at which it stands. A pitiful reduction of two or three millions a year in times of peace may well alarm the Chancellor, in view of the inevitable drawbacks of a protracted war. Meantime on the Continent “the chapter of na- tional debts is assuming a painful and a bane- ful prominence as a social and political fact of modern experience.” From this reflection he exempts the enormous debt of the United States of three billion dollars, for be does not believe that it “will constitute any diffoulty for the American people.” But, as under all the #d- vantages of peace the European States gener- ally, great and small, have been heaping up na- tional debts during periods of war, there appears to be hardly one among them, except Prussia, aud perhaps France, that the pressure of actual war would not speedily reduce to bankruptcy. Hence the shocks of the Paris and London mo- ney markets from the reports that Austria and Italy are arming for war. The great dangers from a war of any magnitude in Europe are a universal financial revulsion, political revolu- tions and repudiation. Nor can these dangers much longer be avoided under a reign of peace without great redactions of those costly military establishments required at present to watch Napoleon and each other. This is a sub- ject upon which Mr. Gladstone might profitably employ an hour or two in an appeal for a Eu- ropean Congress. But the main feature of the argument before us is in the national debt of Eagland and her prospective resources for meeting it. Mr. Gladstone says that the external commerce of the United Kingdom, with its thirty millions of people, ls equal now to that of France and America (the United States), with their seven- ty millions. But he modestly omits the people of her Majesty’s colonies and dependencies, from the one hundred and thirty mill‘ons of India, and thence eastwardly around the globo to the people. of the West Indies, the Canadas, &c., all of whom contribute to England’s com- merce. But this omission does not materially weaken the fact that the strength of England is in her coal fields and that the British ompire must fade away with their exhaustion. It is her cheap production of coal, as Mr. Gladstone graphically presents the facts, that gives to England her overshadowing industry and commercial supremacy. “Suppose, then,” he asks, “that pre-eminence in the cheap pro- duction of coal should be carried from us away across the Atlantic (to the United States, with thirty-seven times the coal fields of England), what will happen? There will be a decline of rents, a decline of property, a decline of wages.” And then tabor and capital will inevitably drift to the cheaper production of coal. Here is the difficulty; and as, from careful estimates, this transition epoch may dawn upon England within the next fifty or hundred yeara, provis- ion for her national debt meantime be- comes an urgent question. How is she to meet ‘it? Not by increased taxation, for she is taxed already to the verge of safety. She can only meet it by such retrenchments, reforms and concessions to the masses of the people as the House of Commons has never yet dreamed of. The costs of tha roysl family, the Church, the high offices of State, the army and navy, and of an overgrown and suffocating aristocracy, might profitably to the State be reduced from twenty to fifty or seventy-five per cent. Thus Mr. Gladstone, im a single bill, may obtain a surplus of fifty or a hundred millions a year for the liquidation of the national debt, without an increase of tax- ation. The danger to England which he has pointed out, though visible, is remote. His remedies we have still to learn. He is anxious to save England's posterity from a burden which they cannot bear; but does he recognize the faot that this burden is England’s landed aris tocracy? Unless the pruning knife be here applied M:. Gladstone will not have to wait for a decline in his coal fields before witness ing the total eclipse of England’s glory by the rising sun of the United States. Mr. Fox’s Praasvre Tawr.—When it was first rumored that Congress had been asked to au- thorize the creation of another Assistant Sec- retary of the Navy, so that Mr. Fox might go off to Europe on a pleasure trip in a government vessel, we could scarcely credit the report; but it turns out to be too true. The bill cresting this additional Assistant Secretary has passed the Senate, and we learn from our Washington despatches that the iron-clad Miantonomoh is lying at Halifax awaiting the arrival of Mr. Fox, who is to present the Emperor of Russia with the Congressional resolutions congratulat-; iag him upon his escape, and who is also to re- port upon the condition of the European na- vies. A more impudent scheme to spond the public money tor nothing has never beon brought to our notice. Before the recent war we had no Assistant Secretary of the Navy; during the war we had only one; but now that the war is over we are to havetwo, When steamers are running from this port to Europe every woek a special government vessel is equipped to carry over his High Mightiness Mr. Fox, who.must have a whole ship to Bimself. The pretence that he is golag to inspect the European navies is all humbug; for more competent Amorican offi- cers, like NT na ek on the ground, could readily be assigned for that duty. As for the resolutions about the Emperor of Russia, they will have been copied. from the Heratp into all the Russian journals long before Mr. Fox can arrive at St. Peters- burg. Or, if these resolutions must‘ be trans- mitted by a special messenger, let one of the heroes of the war, like Grant or Farragut, whom the Emperor and the Europeans will be glad to see, be sent over with them instead of: Mr. Fox, who was hardly outside of Washing- ton during the rebellion, and is not known on the other side of the ocean. The German War Question. The European news received by the Java is of a more pacific character. In the first place we have it announced by M. Rouher, in the French Legislature, that he had received an official declaration from Italy in which she en- gages not to attack Austria, Then there is 9 statement, emanating, however, from no official source, that France, England and Austria are busily engaged in negotiations for a congress for the settlement of this and other European questions. But for the equivocal position which the Emperor Napoleon has occupied from the commencement in this affair of the Duchies, we would be inclined to regard it as now divested of its most dangerous features. Inasmuch as a treaty exists by which France guarantees Italy against an attack by Austria, and Italy formally declares that she will not commence any attack against Austria, there would appear to be no cause for apprehension that the initiation of war will be assumed by either of these govern- ments. But have we the same Assurance in re- gard to Prussia? Is it at all certain that she will be satisfied to recede from a position the risks of which she had evidently carefully cal- culated? Again, how far are we justified im placing reliance on the pacific and neutral policy announced by Louis Napoleon? It is coupled, be it remembered, with reservation of the right of “an entire liberty of action,” which, coming from such a quarter, is always pregnant with meaning. Undoubtedly the most effective and rational means of settling the question would be by referring it to a congress, the course we have all along recommended. It would re- open the controversy as to the justice of the course pursued towards Denmark and would make the other European Powers guarantors of any settlement that might be arrived at; an important consideration in difficulties of this kind. But would Prussia agree to the propo- sition? We doubt it. If she is ever to attain the objects that she has in view in Germany now is her time for it. Militarily and financially she is at present better prepared for war than any continental Power except France. In tak- ing the bold course she bas pursued in regard to the Duchies we must not, however, assume that she has been influenced solely by the con- sciousness of this fact. No European Power can afford to provoke a war in which she has to rely on her own resources exclusively. That she is acting in secret concurrence with the French Emperor we have been satisfied from the commencement, and we are therefore dis- posed neither to place faith in the assurance of his intention to pursue a policy of neutrality nor in the earnestness of his efforts to get the diMculty settled by a congress, The caustic and eloquent speech delivered by M. Thiers in the French Legislature will, we think, bear us out in this view. He shows that in the successive steps taken by the gov- ernment of Victor Emanuel to extend his sway over Italy, Louis Napoleon always ostensibly blamed but carefully avoided taking any steps to prevent them. It was so in the case of Tus- cany; it was so in the case of Naples; it was so in the case of Rome. Had France categorically declared to Italy that in the event of her com- mencing an attack on Austria she would leave her to suffer the consequences, there was no question that she would desist from such an intention. The official notification received from Italy and announced to the Chamber by M. Rouber, just after this latter point had been made, would appear to take the sting from it; but we have yet to learn the precise terms of that document and how far it is qualified. Ad- mitting it, however, to be full and complete, it by no means puts an end to the chance of war. The conrse of Prussia is not bound by that of Italy, and we all know that, hostilities once commenced, it would be impossible to hold the Italian people to the pledges mado by their ‘government, and to prevent them taking part ins confiict in which they count upon attaining the objects that are alone want- ing to compleie the form of their nationality. We repeat, then, that although the com- plexion of the news is more pacific it is far from conclusive. So-long as Napoleon controls the threads of the complication and his interest, lies in the directton of war it is impossible to tell what fresh features it may assume. Taz New Frexcn Tagatre—Revivat or ‘TamaTeical. axp Orgratic Art.—The stock- holders of the elegant new French theatre in Fourteenth street had a meeting on Wedncs- day, for the parpese of drawing for sents. Althoagh these enterprising gentlemen and ladies were entitled to a monopoly of the best i less be a favorite place of resort for all the the’ best opera company at present in the United States; willcommence s season in it next Sep- tember. He willopen with the great Italion tragedienne, Madame Adelaide Ristori, and a company of forty-eight artists. Wo shall have the opera there as well, with a company of first rate artists, Mr. Grau will probably retain his prosent company, ora part of them, and es pecially the be@utlful Boschetti, This fresh and charming young artiste is in personal appearange as in other respects the beau ideal of Gountd’s Margaret, in Faust. Her golden bair, exquisite features and form, and her fine voice and act: ing make ber the best repxoe-ntative of that character in this country, Bat in addition to his present artists Mr. “srau is going to Earope especially to engare others of the very highest Teputation. We may look forward, then, to a most brilliant season next fall and winter, both in opera and the drama, under the management of Mr. Grau. The new French theatre, under all these circumstances, must become the great attraction of the metropolis. Mr. Srnome’s Loanovs Views on Tam Na- TioNaL Bang Cunnencr.—Some oné has written to Mr. Spinner, the Treasurer of the United States, inquiring about what security there is for the notes of the national banks, and the relative value of this currency with the govern- ment legal tender currency. The Treasurer shows himself to be the largest sort of a bull in the matter of the national bank currency. He thinks the notes of the national banks not only good and well secured, but the notes of those that fail are “rather better than those of ® bank in good standing.” He says, too, “the United States legal tender notes afford no greater security to the holder than the notes of national banks.” We are aware that the gov- ernment. holds deposits of its own securi- ties, with « margin of ten per cent over the circulation of the banks, for the redemption of that cirulation whenever a bank falls; but we cannot see why the notes of a failing bank should be better than those of a sound one. Mr. Spinner’s correspondent asks a very pertinent question, upon which the Treasurer does not throw much light. He inquires what security the note- holders would have in the event of the banks failing and the bonds deposited should not realize enough to redeem the circulation in consequence of @ 4%cline in the securities. “Is the government bound to redeem the notes at par,” notwithstanding the bonds deposited should not realize a sufficient sum with which to redeem them? That is the question. Mr. Spinner does not answer it directly. He simply says the government has a first and permanent lien tpdn all the assets of a de- faulting bank to supply the deficiency. But, Mr. Treasurer Spinner, suppose there were no assets—and it is not likely there would be in a general panic or smeeh up—would the United States be bound to make up the deficiency out of the Treasury? That is the real question; that is the question the correspondent put, and the question which has not been answered. Was the Treasurer afraid to answer? If we rightly remember the act creating these banks, the government is not bound to the noteholders beyond what it can realize out of the banks, No Congress could be stupid enough, surely, to pass a law making it responsible beyond that, The truth is, as long as the securities of the government which the banks deposit stand well there is no fear of the notes being re- deemed; but suppose there should come a general financial or commercial crash, or a war, and vast amounts of these securities should be forced on the market or should greatly decline from other causes, the notes could not be re- deemed at par, and the noteholders would lose. With all respect to Mr. Treasurer Spin- ner, we think the legal tender is better and more secure than the national banknote; for the government is bound for that to ite full value whatever crisis may come. Will Mr. Spinner be more luminous the next time? Awmpnican Ocean Sream Lines.—Every day we have fresh evidence showing the necessity of establishing American steamship lines owned by Americans and sailing under the American flag. Our European commerce is now altogether in the hands of foreigners. In reality there is but one American steam line between this port and Europe, and the English, Germans and French are starting new lines every little while. Foreigners are, in short, absorbing all our foreign carrying trade. This arises from mo want of enterprise on the part of our people; bat commercial ventures of this ebaracter upom a largo scale require the aid and enconragement ofgovernment. The assist- ance given the Cunard line by the British gov- ernment enabled that line to crowd off the American Collins line and monopolize the most profitable part of the trade between the two countries, And that assistance is not like- ly to be withheld, ao matter what may be said to the contrary. No doubt the subsidy will be should not be deluded on this point. It is owing to the meanners ot Con- gress in withdrawing the subsidy to for- mer American steam lines and ing the same from new lines that the ocean steam marine of this country is in such an un- fortunate condition.. The practice of Congress bas been virinally te surrender the American flag to Europeans, when its folds should pro- tect the interests and stimulate the enterprise of Americans. Congress is even now acting despicably in the case of the American line of steamers to Brazil.. The Brazilian government bas granted a fair subsidy to the line, which is owned and run by Americans; and if the enter- prise should not prove successful the fault will lie at the doors of Congress. The American republic is the chief Power on this continent,, and should take the lead, instead of being sec-- ondary, in alt enterprises calculated to pro- mote commercial imiercourse between oar ports and those of the countries adjoining us. This line from New York to Brazil is one im- peratively demanded, as well from commercial policy os from a precantionary measure of self protection. Heret fore our chief and most rapi@ channel of commanication with Brazil was by way of England and British steamers. Néarly all government despatches, private and com- mercial, letters, passengers to and from, the United States, articles of commerce that re- quired haste, &e., reached here via. England, and of course vice versa. By the establishment of the American line, however, we are in a great measure relieved of our dependence upon England and British ships in. this respect, and if Congress but act properly and wherally we shall be relieved altogethey af this depend- ence. In sbort, Congress woudd be acting much more sensibly and patrioticedty if it would de- vote « small portion of the public funds to the encouragement of Ame'een ocean steamers, owned and mantged by Americans, instead of allowing the national ‘creasure 16 be expended in junketing excursigms in antional steamers to the far off land ‘of the Cxars and for other useless purposes, Practicat P,geoxstavction,—While Congress is wrangling about reconstructing the Union the work’ is going om quietly bat eZectually onghont the South. A recent report of the ‘Lighthouse Board shows that st:ste the close of the war lighthouses have ',een re-established in no lese than sixty-nine important stations ' on the Southern coast. At the same @me pes tal facilities have been extended through a com siderable portion of the Southern country, twe hundred and eighty-six Post Offices baving bees reopened within the past month. These are practical methods of reconstructing the Union and restoring harmony. Tus Mewruw Rior.—Seven different com missions will soon be engaged in ascertaining the facta relative to the Memphis riot, Con- gress has appointed a commission, General Stoneman another, General Howard « third, General Fisk « fourth, the City Council a fifth, the white citizens a sixth and the negroes o seventh. Here in New York we had a negre riot more formidable than that at Memphis, and we put it down and sent the ringleaders to prison without any assistance from commissions of any kind, Congressional or otherwise. Why are the facts about the Memphis riot more diff- cult to ascertain? Are the radicals anxious to shield their black pets from justice ? Wao 1s Heap Cenrae or Tae Custou Housa?— It is very evident from the developments during the last two or three days that Weed is not the Head Centre of the Custom House. The Tiwnes declares that Connolly is not. Who, then, is Head Centre? Is it Chase, or is Mr. Smythe the real Head Ceatre after all? MEXICO. News from che West Coast—Rose-Colored Imperial Despatehes, . Sax Fraxcreco, May 16, 1866, ‘The imperial Consul of Mexico in this city bas re- ceived official despatches via Acapulco, announcing that the liberals after their defeat in Michoacan, endeavored to rally, but were suprised and completely routed. The occupation of Tanistaro by the imperialists is off- cially reported. Official Report of the Victory Obtained Over the Imperialists by Colone! Men- doz—The French Driven From Tobaseo, Wasuixctoy, May 17, 1868, The Mexican Minister received to-day official despatches from San Juann Bautista, the capital of tho State of Ta- basco, gontaining the official report of Colonel! Mendes, the Governor of the State, of a victory which he ob- tained over the French at the town of Jonuta, on the 11th of April. After a short battic the garrison of Jonuta surrendered to Colonel Mendoz, with their cannon, arms, aummunition, &0. Tho French bave lost in that way the only point they held in the State of Tabasco. Escobedo Preparing for an Attack on Monterey=Draining the Valley of Mexico, &c. be New Onxeame, May 17, 1868. Brownsville advicer state that Es¢obsdo, with twe thousand men, was in the neighborhood of Chias pre- paring for an advance on Monterey. . The Empress Carlotta left Mexico for Coernavaca o@ the Ist inst. Smith's plan for draining the valley of Mexico bes been accepted and a decree issued. ‘The imperialists have reoccupied the Pacific comm, and the “empire” is unusually quiet. and sixth floors before the fre was extinguwked. The damage to the stock will be about $6,000; iimured fer 000, as follows:—Hope, $2,000; Corn Eachange, 000; Central Park, $2,500; Giobe, $2,500, 2,500: Jefferson, $2,600; Stuyvesant, $3,000; ae nty, $2,500; tte ta Firemen’ a Fund, fe for 84000, the Ce Boston, May 17, 1868. ne presest week, at the towns of over in wieh and Monument. bn West wich was incladediin the: andes of corded wood. The loss of rie $50,000, At last accounts the oon! had ere. ‘There were heavy raing in. the riciaity City Intelligence. ‘Tue Earty Crosixc Movaweyt’—The oustom of closing retail stores at seven o'clook im the evening, inaugurated Uy the Dry Goods Clerks’ Association of this eity, is new almost universally observed by the dry goods dealers, throughout the éity. This was: brought sbout by the clerks, who, instead of striking or threatening, formed Fit rs < a E + ia nt the | i i il : ti i! i and closed at wil, and which would paswongers forwagdi at landing and taking such cod emeenes fatal for the bri mon ) matier gone, and uo ‘nether. fay why toncoqotermes Ld fan tg ew Fork wie Ko Sette ty otic agro ey sey, in search of sometbing Gilg and Hoboken ferries, we of carrying pasvengers. A fe i E 3 3 rift ier [ Hi ? :