The New York Herald Newspaper, May 23, 1866, Page 8

6 NEW NEW YORK HERALD. OFFICE N. W. CORNER OF FULTON AND NASSAU STS, BROADWAY THEATRE, Broadway ®ear Broome strect.—Tnm Frevcn Sry. ae WOOD'S THEATRE. Broadway, opposite tha St. Nicholas Hotel.—Inx Exves—Tux Foou or tax Fawuy. Matinee at Lig o'Clock, ie BROOKLYN ACADEMY OF MUSIC.—La Jurve. TONY PASTOR'S OPERA HOUSE, 21 Bowery —Sive Bro, Dancing, HUnEESa0xs, @&¢.—HooliGan, tum Lost, lock. Matinee at 2! SAN FRANC MINSTRELS, 585 Broadway, opposite Metropolitan |. Bmitorian SINGING, DaNcixG, Boe Be.racor; on, Tux Two MouNTEBANKS. GEORGE CHRISTYS—OLp Scuoon or Minsrnetsy, Bavtaps, Musicat Guus. &c.. Fifth Avenue Opera House, Nos. 2 and 4 West Twenty-tourin street.—Puten Fires, on tax MAN Anout Town. BRYANTS' MINSTRELS, Mechanics’ Hall, 472. Broad FUy--Nucno Comiarires, Bunuesquas, &c.—Tax Live 1M. HOOLEY'S OPERA HOUSE, Brooklyn.—Ertaroriax Mine STRELSY—BaLLads, BURLYSQUES AND PANTOMiMis. TRVING HALL, Irving PuaNs OF CHARLESTON, 5. ace.—-ConcuRt FOR THR OR- BROOKLYN ATHEN AU ists AND Buu Rinoxns. wz Avicnamtan Voca- COOPER INSTITUTE, Astor place.—Binuianp Maton, NEW YORK MUSEUM ¢ Open from 10 A, M. Wil 10P. d TRIPLE SHEET. TOMY, 618 Broadway. New Work, Wednesday, May 23, 1866. 10 ADVERTISERS. Advertisements to insure a proper classification should be brougtt in before half-past sight o'clock in the evening. THE NEWS. CONGRESS. . Tn the Senate, yesterday, the bill equalizing the boun- ties of soldiers in the late war was reported from the Committee on Miliary Affuirs. The report favors the equalization, and states that the amount necessary will be $135,000,000. ‘The bill and report were ordered to be printod. ‘The bill providing for the disposal of the public lands in Alabama, Mississippi, Arkansas, Louisiana and Florida was passed. Mr. sherman called up the bill for the funding of the national debt and the reduction of the interest thereon, Mr. Shorman, in the course of his speech in support of his bill, cited the fact that Great Britain paid less money out as interest on $4,000,000,000 than the United States did on $2,200,000,000, and yet English consols stood higher there than five-twenties did here. The House bill to amend the postal law was passed, In the House a bill amending the Civil Appropriation bill was passed. The Senate bili authorizing the appoint- ment of an Assistant Secretary of tho Navy was also passow, A bill was reported from the Select Committee on Freedmen to continue the Freedmen’s Bureau for three yours and to amend the act establishing the same. The ‘Tax bill was than taxen under consideration, A tax of tem cents perpound was imposed on smoking tobacco. EUROPE. Our Enropean files, dated in Paris on the 11th of May, Qrrived yesterday. The papers are not so late asthe nows report of the Caoa which appeared 4n our colnmns yesterday, but they contain very intoresting details of tho advices to the above named day. Napoloon’s speoch at Auxerre, which we print in full, proguced an intense sensation. His assertion that he “detest” the treaties of 1315, his allusion to the fact thas the first Fronch votes cast for bim were given there, with his statement that he breathed more ‘‘freo”’ among the laboring class, were accepted as a eondemnation of England’s foreign policy, and a rebuke to his opponents of the learned and hicher orders in Paris. “Lora Clarendon proclaimed a mest decided neutrality for England, should war, which the Cabinet regarded as Almost certain, break out, Earl Fussell made a state- mont with respect to the non-intervention policy of Great Britain during the Danish war, which Earl Derby characterized as a ‘gross misrepresentation.”” The inception and progress of the money panic dis- aster in England are reported. Oar Madrid correspondent, writing on the 8th of May, roperts that the Spanizh government was actively pro- paring for the coming shock of a great European war. Marshal O'Donnel! had been clothed with extraordinary ‘powers by the Cortes, and the Mediterranean possessions of the kingdom were being reinforced. It was thought @at an offer on the part of the United States of media- fon between Spain and her enemtes in the Pacific would bo veay agrecabie to the Cabinet of the Queen. ‘THE ITY. ‘The fice that broke out shortly before midnight on Monday, was extinguished yesterday at dawn. The flamos destroyed the Academy of Music, the University Medical College, the Evangelical Lutheran Church, and a number of other buildings, the damage being likely to amount to nearly two millions of dollars, A full and detailed account of the origin, discovery and progress of the conflagration, as also diagrams of the locality, and of the stage and auditorium of the Academy will be found olsewhere, the evidence showing w:th tolerable clearness thas the fire was the work of an incendiary. ‘The Board of Hoalth met yesterday. A large number Of orders wore entered for the abatement of nuisances, among which were included several awill milk estab- lishments in Brooklyn. With rogard to the gas nutsancs, Dr, Stone oxpressod the opinion that the remedy had been found for abating the of- fensive odors, and in a short time the difficulty arisng from that source would be satisfacto- rily adjusted, The Pattery barracks are reported as tion fit for occupation. There are accommo- for acolony of fve hundred persons, A peti- tion was received numerously signed by physicians ask- ing the Board to use its influence with the Mark Com- missioners to allow the construction of artificial spas at that place. At the weekly meeting of the Board of Excise yester- day the first trial under the new law lor viotation of the excise arrangements téok place before the Commission. Owen Kenny, of Ninth avenue, Mquor dealer, was charged with selling iquor to the wife of Samuel MeGill while she was in @ si f intoxication. The husband Prococuted and wiinesses were produced, The decision of the Board was reserved, The Roard of Appeals, at their usual meting yesterday, heard applications from liqnor dealers of the four towns in Kings county, A number of Heenses were refused, and some reverved for decision, The Board of Supervisors heid a meeting yesterday afternoon at two o'clock. An appropriation of two thousand do|lars was m n favor of Recorder Jobn IL Hackett for services rendered in defending the erty from claims arising out of dam tio, Beyond this, the charscter of the business trans acted did not poosoes any peculiar interest, *The City Attorney hax taken proceedings against all fiackmon who }ave not s list of rates exhibited in their vehicles, under a penalty of ten dollars. No dry goods of othor stand will be allowed on the sidewalks under a pouaity of five dollars Yesterday the adjourned inquest on the body of the late Preston King was + t and coneladed before Coroner Elias Lyne!, in (i.e new County Court House of Brooklyn, The evid to prove identity, This having been done, the Coroner charged the Jury, who brought in thelr ver © report appears in es sustained during the another column. Head Centre Stoy ultation yesterday evening with the ©. He will receive | an ovation to-mor r .9 Brooklyn Academy of Music, and on Saturday orening at the Cooper insu olitan are becom direction except A few circles tute. The headquarters at the Metre ing quiot, and very fow move in th aspirants for office under the new régm. pont delegates. An adjourned meeting of the members of the Mercan- tile Library Association was held last evening in Clinton Hall. After much discussion the President's Annual Report, submitted at the last meeting, adopted and ‘ordered to be printed in the usual form. ‘The Union Sunday School gave a pleasing entertain- mons lass evening at the (wanes Lostijute, The aggruiane consisted of songs, chants, anthoms, solos, the crowning | Seeretary Seward’s Diplomacy and the of the May Queen, &c. ‘The audience in attendance was large and fashionable, and the entertainment was a per- fect success, Yesterday being the celebration of tho anniversaries of the Brooklyn Sunday schools, the occasion turned out to be a. complete succes and far surpassed that of any former aunivorsarios The day was fine, the ar Tangoments were excellent, and the services inthe dif. ferent churchos were well and effectively gone through. Tt was a gala day, a glorious day and a day long to be remembered. ‘The strike of the ship carpenters, joiners and caulkers does not show the slighest sign of coming to a close. ‘The latest particulars and some correspondence respoct- ing it will be found in another columa, Commissioner Osborn took evidenco yesterday in the case of ten of the crew of the ship Escort, who are charged by Mr, H. W. Sherman, the first mate, with having been guilty of mutinous conduct on board that vessel. Tho testimony showed that the men refused to work when ordered by the mate, The examination was adjourned to a future time, In the General Sessions yesterday Richard Lacy pleaded guilty to an attempt to steal a truck from Fred- erick Ditmeyer, and was sent to the Penitentiary for one year. James Riley and Wm. Mahoney were convicted of an attempt to pick the pooket of Mr. Sherman at the Home for the Friendless, Wm. Brown, who stabbed Robert Black with a sheath knife, pleaged guilty to an assault with intent to do bodily harm. Wm. O'Brien pleaded guilty to an ‘attempt to break into the store of John McGrath, 13 Chatham street, Judgo Russell re- manded tho prisoners for sentence. John C. Wallis, charged with stealing two dozen of kid gloves from A. T. Stewart & Co., was acquitted. Tho argument in the Busteed-Wilson divorce suit, in the Supreme Court, Chambers, before Judge Barnard, was yosterday adjourned to Friday moxt, when the case will positively proceed. The examination of witnesses in tho ‘Tilt divorce suit will commence this morning. A suit was commenced in the Common Pleas yesterday against Moses §. Beach, of tho Sun newspaper, for libel in stating that the plaintiff was arrested and identified as a thief, and waa committed in default of bail. The defence set up was that it was an error, and that the plaintiff had been associated with the Twenty-first ward pang, and had actually beon arrested for assault and battery. ‘The case will be continued to-day. ‘The suit of Dudgeon vs. Ackerman for the valne of a hammer purchased by the defendant from a third party, resulted in a verdict for plaintiff for one thousand dollars. Judge Cardozo, of the Common Pieas, las devied the application of D. G. Ferguson, implicated in the Lord bond robbery, for bail, on the ground that such applica- tion would be more fitly made to the criminal courts and justices, Another injunction has been procured against the Metropolitan Board of Health in a suit instituted by the Mayor, Comptroller and others, as Commissioners of the Sinking Fund, restraining them from removing the stands around Fulton market. The order was granted by Judge Barnard. ‘The stock market was somewhat unsettled yesterday. Governments were heavy. Gold closod at 133. The sudden riso of gold unsettled the market for almost evorything yesterday and pricos were entirely nominal. Foreign goods wero generally quiet, but holders asked an advance for nearly all kinds of mer- chandise, both foreign and domestic. The market for beef cattle was depressed by heavy receipts this week and prices were rather lower—say 4c} a %o. on the different grades. The cattle were of a very good average quaiity, however, in view of which the average price was but little, if any, lower then last weok. ‘A few of the choicest cattlo realized 1734 a 18c., but only a fow sold over 17c., while good cattle wore placod at 16c., and other grades ranged down as low as 12c, Milch cows were irregular. Veals were dull and heavy at 6c..0 12c, Shoop aud lambs were plenty and lower, varying from $4 to $9, Hogs wero active at from 104%c. a 10Ke. The total receipts were 6,103 beeves, 164 cows, 1,841 veals, 18,864 sheep and lambs. MISCELLANEOUS. Secretary Seward addressed an immense moet} ing at Corning Hall, in Avburn, last evening. He eaid that the solicituda which porvades tho country would, perhaps, justify him. in ad. dressing the people upon political topics candidly and patriotically. When good Union mon wore suspicious of the change in the views of the defeated rebels and their support of tho Prosident’s policy he, from the first re- fected the idea that the change was accomplished for treasonable purposes, With fow exceptions the Southern people could justly bo accepted as fellow citizens. Tho Southern States have, for tho last four years, been merely disorganized, They are now organized, and nothing is needed but conciliation. The President's plau of recon- struction {s that so far and so fast as the unrepresented Southorn States present themselves in a loyal attitude by representatives unquestionably loyal they arc entitled to representation. ‘This plan is practicable, No plan proposed by Congress so far is immediately practicable, He was aware that there was a difference between the President and Congress, but he hoped that difference would not cause the Union party to lose its great influence in guiding the country to perfect restora- tion, Our Toronto, Canada, correspondent, writing on the 21st of May, states that the eventful moment of the legislative struggle for and against confederation was rapidly approaching; yet still the Canadians, asa people, did not evince much interest in the result, exhibiting nothing like the amount of feeling which has been isplayed by the inhabitants of Nova Scotia and New Brunswick. It was thought the Fenian prisoners at Cornwallwould be brought up, under habeas corpus into court at Toronto, News from Havana is to May 19. Soveral caves of guano have been discovered in the Island. The potro- leum diggers are progressing fairly, Genera Dulce has Deon requested by GenoralgLeraundi to delay his de- parture until the latter arrives. Orders have beon issued by the Gobernador Civil forbiding the giving.of lectures in private houses, The government monopoly on tobacco has been abolished. The news from St. Domingo, via Havana, is to the Sth inst, President Baoz had defeated the Haytions. Another revolution was in progress in Hee news from Central America is to the Stet of March, The National Jury had been organized at Mana- qua, Nicaragua, Genoral Mosquera had made a com mercial treaty and postal arrangement between England and Colombia, Our correspondent with the investigating commission cf Generals Steedman and Fallerton writes from Port Royal, §, @., and Savannah, Ga. A far more favor. able condition of affairs is noticeable among the freed. men in Port Royal, Edisto and the Hilton Head islands. Under the administration of General Scott, the Commis sioner for South Carolina, matters are progressing very satiefactorily. The same old story of Northern peculation and malfeasance, however, is told in relating the conditioa of the Sea Island settlers In Georgia the regort is to the effect that the Freedmen’s Bureau is an obstacle in the way of kindly feeling between the whites and blacks, ‘The question of the constitutionality of the law dis franchising deserters in Pennsylvania has been brought before the Supreme Court in that State, Attorney Cene- ral Meredith will appear in support of the law, The argument takes place to-day. The President has approved the Post Office Appropria- tion bill. ‘The aggregate amount for inland service is $18,379,500. Bosides this $1,800,000 is appropriated for the transportation of mails to Brazil, Japan, China, and by sea to California. A horee fair begins to-day and will continue through to-morrow at Freehold, New Jersey, under the auspices of the Monmouth County Agricultural Society. Details of the terrible storm which visited Rochester on Sunday are published this morning. The damage done merely to window glass is 40 great that it cannot be remedied by the glass dealers in Rochester. The roof of the county jail was od in by falling chimneys, and other damage done, an incalculable loss to the Tesitonts of that city. The suffering in Loulsiana in coneequence of the pro- vailing flood is considerable, the people In the over- flowed \istricts actually suffering for food. Two boat ionds of Fenians landed on Indian Island, Canada, on Monday night and exchanged several shots with (he citizens, The British war steamer Niger ap- | peared in sight and they retreated. In appointing the Board of Visitors to the examination of West Point cadets, in June, the President bas selected, besides gentlomen from other States, one each from Vir- ginia, Florida, Tennessee and Texas, and one from Mis- sissippi and Arkansas. The reported rinderpost in Panama proves to be a dis- cage resulting from the use of young grass by the cattle, which is not contagious. ‘William Weir and Jacob Bell, Jr., of New York, and | Douglas Grant, a son of the General, have been appointed ' to the Military Acadaser at Waot Paint by the Pronidast, Monroe Doctrine. We publish elsewhere this morning a highly important article setting forth very clearly the preparations now being made to relieve the Island of Cuba from the oppression of Spain. It appears that the allied republics of Chile, Bolivia, Ecuador and Peru, not content with defeating the Spanish fleet, have determined on offensive movements against Spain, and have been for some time past endeavoring to extend their alliance to the neighboring States of Veneznela and Colombia, in order to gain, on the north and east coasts of the continent, a base for active operations in Cuba. Fearful of the threatening proximity of the formidable Spanish fleet, Colombia and Venezuela have wisely hesitated heretofore to enter. upon treaty offensive and defensive with tho allies; but, with this fleet now destroyed and Spanish power in the Pacific broken, their reluctance to join such powerful and {perhaps dangerous neighbors will doubtless be overcome. If this alliance be extended to these States it will be the downfall of Spanish power on this conti- nent; and we may soon expect to hear thatthe allied fleets are blockading Cuban ports, or landing troops upon the Cuban coast. An allied army would meet, it seems, with a hearty welcome, for the native Cubans and blacks, who have, ever since the successful revolution of Bolivar, been disposed to revolutionary ten- dencies, are now well prepared to vigorously std in the work of throwing off the Spanish yoke. The fires of revolt are still smouldering in that island, and at any moment may break forth in their fury. With the aid of the allied republics there can be little doubt of the ulti- mate success of the Cubans in gaining their in- dependence. This proffered aid from these States to the native Cubans is what the latter had good reason, from our declarations and professions, to expect trom the United States. In otber words, the South Pacific States are simply enforcing our favorite Monroe doctrine. In the meantime how does this countfy stand towards those States in the hour of their trou- bles? The sympathies of the people of the United States are wholly with the republics and the liberals of Cuba as with those of Mexi- co. The forms of government of those States now established are based on our own, and their domestic institutions are in every respect similar to ours. We look upon those govern- ments as models of our own, and upon the people as republicans like ourselves. Our sympathies are entirely with them in this strug- gle, and he much mistakes the spirit of this people who supposes otherwise. Yet it ap- pears that Mr. Seward, our Seerctary of State, is such a sadly mistaken indi- vidual; and . worse than this, that he has ignorantly or designedly (and either ignorance or design in such a case is criminal) placed the country in the false light of having repudiated the Monroe doctrine as applicable to the South American, and West India repub- lics. It cannot be that this bas been done at the instigation of Mr. Johnson, who ts known to be astrong and consistent advocate of the Monroe doctrine. At any rate, even if by au- thority of Mr. Johnson, it has not been done by the higher authority of the people, and Mr. Seward may rest assured that he must renounce his present diplomacy, or the people will repu- diate him. His offences in this particular already appear too heavy for forgiveness, He refused positively to recognize the government of Prado, the President of Peru, who, no mat- ter under what circumstances of revolution he came into power, deserves consideration and respect, inasmuch as he has shown himself bold, sagacious, upright, humane and enter- prising. Mr. Seward is even now, in direct an- tagonism to the feclings and desires of the American people, forcing the embarrassed re- public of Ecuador, engaged at this time in a war for existence, to pay the first instalment of the amount of the award of 1862, when he should have assured that country that the American people could afford to wait. Mr. Seward, moreover, is responsible, as we have before declared, for the Spanish outrage at Valparaiso, Chile. If the bombardment of that city was an act inde- fensible by Nufiez and his government, how much less is the failure to prevent it inde- fensible by Mr. Seward and this government? International law is explicit in declaring that .® bombardment is lawful only when the city to be attacked is fortified or otherwise de- fended, or has been guilty of a criminal act and refuses to make atonement. Nufiez bom- barded Valparaiso, violated law and jeopard- ized the lives of women and children; but Mr. Seward, with a minister and a fleet on the ground, with every incentive to interfere, by his orders to them to stand aloof outraged humanity and jeopardized the bonor and dig nity of the country, and is equally guilty with the actual perpetrator. Nujiez came out ot the disgracefal affair with some respect ; but Mr. Seward has gained none. But these are by no means the most dis- graceful acts of Mr. Seward in repudiating the Monroe doctrine. That doctrine was deliber- ately enunciated by the American Congress immediately after, and was really inspired by, the successful revolutions of Simon Bolivar in 1821, and intended t>» apply to these same States now forming the alliance undor identically the same circumstances as those now surronnding them. Then they had just gained their independ- ence; now they have just repulsed their old aggressive enemy and are preparing to ex- tend aid to their oppressed brethren in Cubs. Then Mr. Monroe asserted and Congress ro- solved that “the American continents, by the free and independent conditions which they have assumed and maintained, are henceforth not to be considered as subjects for future colo- nization by any European Power,” and that “the United States consider any aitempt on the part of European Powers to extend their system to any portion of this hemisphere as dangerous to their peace and safety.” Now, when these States, under similar circumstances, are atrug- gling for the same end as formerly—liberty— Mr. Seward assorts, but the American Congress dare not and the American people will not resolve, that this doctrine ix to be repudiated. But a single month or two since Mr. Seward declared at o public dinner given’ to him by Spanish officials in Havana “that the United States had no other views or desires in these regions than the advancement and happiness of these (the Spanish) people; it being s matter of indifference by what moans owby what form of government they attained those lofty ends. He offered the sentiment that Spain is the only European Power that has any right to 0 footing in Amorigg, singe Snaig had always been eminently American. She has the glory of having discovered and bestowed America upon the world and of hav- ing peopled and Christianized these vast regions, He therefore wished Spain all happiness and prosperity, in order that she might be able to maintain her American pos- sessions and bless them with peace, and ali those gifts with which Heaven recompenses frugal and laborious people; that these were the wishes and only aspirations of tho United States,” ‘These are not the sentiments of this people; Mr. Seward is not the representative of the American nation, and Mr. Johnson ought to officially repudiate the sentiments and the man. It is very emphatically a matter of momont to the United States what form of govern- ment is maintained by European Powers on this continent; and we havo distinctly avowed and reiterated hostility to the further establishment of monarchies in America. Spain is most certainly not the only European Power with rights in America. On the contrary, she has less rights than any other European Power, because the least civilized of all Christian nations. Mr. Seward declures that Spain is eminently American! If this were not ridiculous it would be insult- ing. Mr. Seward is the only man in America whom we would suspect of honestly wishing Spain all prosperity “in order that she might maintain” her despotic hold on America; and in saying that such “were the wishes and only aspirations of the people of the United States” Mr. Seward, to put it as mildly as possible, must have thought to impose on the credulity of his Spanish audience. President Johnson ought to repudiate this man. His offence is rank. He ought to be in- vited to leave the Cabinet at once. The offences of the other merely domestic in- triguants of his Cabinet, whose words are of no weight outside of their party, can do little harm to the nation, though they may Tylerize Mr. Johnson. But the tendency of Mr. Seward’s infamous declarations is to revolutionize our entire foreign policy and place the country in a light as contemptible as false. Not mere party but national policy is involved in this matter, and Mr. Seward should be invited to retire. The work of the political guillotine could not begin with a more appropriate or de- serving victim. The Panic in Europe. The nows from Europe as to financial mat- ters is of an exciting character. It excites the greatest interest and some perturbation in the gold, stock and exchange market bere, but does not and need not create alarm. The heavy failures that weré occurring in England, the drain upon the Bank of England, an1 the raising of ils rate of interest to nine and ten per cent, together ‘with the financial condition ot the continent, caused a great sensation.. The London Times says editorially, “such excite- ment on all sides bas not been witnessed sinco the great crisis of 1825.” The London Daily News characterizes it as “a complete reign of torror on the slock exchange.” © Governfnent found it necessary to come to the rescue. Mr. Gladstcne bad a consultation with bankers and others on the situation, when these gentlemen represented to him that the panic in London was “without parallel in the financial history of the country.” The Chancellor of the Exchequer therenpon addressed a letter to the Bank of England offering to afford relief by all the means in bis power, stating that If it were necessary for the Bank to issue notes beyond the amonnt allowed by act, he would make immediate application to Parliament for an act of indemnity. By the very latest news it is siated that the government had resolved to suspend the Bank Charter act. All this shows what an extraordinary crisis existed. Various opinions are given as to the cause of this state of things. Excessive specula- tions are generally stated as the latent cause, and no. doubt with truth; but the immediate cause may be found in the feeling of apprehension, uncertainty and distrust as to what may take place in Germany and Italy. The questions of war and peace have been hanging in the balance for some time past, sometimes inclining one way and. sometimes another; but now the scale on the war side falls heavily. Lord Clarendon de- clared in the House of Lords that Eng- land’s ‘good offices would be freely tendered if desired in the German-Italian question, (it is no longer a question of the Schleswig-Holstein Duchies only); “but the result was dix coureging, and England could do nothing alone. He feared the consequences and de- nounced the war.” The Paris Constitutionnel says that “France has ceased to give counsels of moderation to Prussia, Austria and Italy ;” and it was reported that the Emperor Napo- leon had made a significant speech at Auxerre, which the Paris Bourse had accepted as a sig- nal of war. There may be, however, a more deep-ceated cause of the panic than is generally understood. Mr. Gladstone made lately a very yemarkable speech, in which he showed that all the nations of Europe are ina state of bank- ruptcy, or are approaching that, and that they are overwhelmingly in debt, and yet con- tinuing to borrow upon a depreciated credit and a doubtful future. Have not the eyes of the people of England been opened by this startling statement? Have not the peopie of other European nations seen the truth so boldly asserted by one of the first statesmen of the age? Perhaps Mr. Gladstone’s novel and striking exposition of the bankrupt condition of European nations has contributed to the present financial crisis. But what concerns us most is the effect the panic in Europe may produce on the business, credit and securities of this country. The tem- porary effect may be bad. Our intimate and extensive commercial relations with Europe naturally involve us to some extent in financial difficulties that occur there. But this can be only limited, and in the present instance more sympathetic than real. Our securities abroad may decline with foreign funds and stocks for the hour, and we may experience perturbation to some extent on Wall street and in the price of gold for the time being; but this can only be temporary. We may feel the shock or excitement momentarily, just as a brave man in battle may who runs with the cowards while the panic lasts, but who soon returns to assert his manhood and power. Conscious of our strength we shall return rein- spired and maintain our position. The im- and resources of the United too well appreciated to cause panics in the Old World. he drama from ys while the YORK HERALD, WEDNESDAY, MAY 23, 1866.—TRIPLE SHEET. fever is high; butas soon as reason shall return, whether there be war or peace, the money of Europe will flow here. This country affords atthe same time the best security and largest profit for investments, and in the event of a general war abroad money will flow here as naturally as the tide flows. We need not be under any apprehension as to the future. We shall rise, as Mr. Gladstone justly remarked, as England and the nations of Europe decline, for our capacity and resources are almost illimita- ble. We may expect, consequently, that as soon as the first excitement of the crisis in Enrope is over our securities and credit will rise higher than ever. The Destruction of the Academy of Music. We publish this morning a full account of the great conflagration on Monday evening, and an interesting sketch of the history of the Academy of Music, which was among the build- ings consumed. The fire broke out at the Academy only a few moments after the audi- ence that had attended the performance by Manager Grau’s troupo had {éft the building. Had the flames burst forth one-half hour sooner the loss of life would have been fearful As it was several gallant members of the paid Fire Department were buried in the ruins. We teust that the very narrow escape of the public upon this occasion will lead to the passage of 8 law compelling all places of amusement to be made perfectly fireproof. This precaution is taken in regard to buildings which are to be used for the storage of valuable merchandise, but buildings that ere to be crowded wiih human beings are erected of the most flimsy materials, There are theatres in this city which are mere shells and invite the flames. We hope that the Fire Marshal wilt investigate this matter, and if he can do nothing more let him at least prevent the aisles o our theatres from being biocked up with chairs and camp stools, rendering sudden ogress in case of fire impossible. Of all the public buildings of this metropolis the Academy of Music is the one which can be best spared. In a financial point of view it has been a failure from the beginning. The stockholders sunk so much money in it that they have never been able to obtain a fair in- terest upon their investments. Asan Academy it was a still greater failure. The original intention was to make it a conservatory of musical art where our native singers could be educated. This intention has never been car- ried out, The Academy has produced no singers; but it has injured the voices of many artists who have sung there. As an opera house it was altogether too large for the artists and for the public. Experi- ence has shown that opera houses must not be such barns as the Academy was. In Paris the new Opera House, upon which the best taste of the French poople has been em- ployed, is much smaller than any of its pre- decessors. The Academy would have been useful for public meetings, sind to this purpose il was becoming exclusively devoted. Still, now that it is gone nobody will miss it, As an opera honse it will he superseded by the new French theatre, which opens ry turday evening, and by Steinway’s new edifice, to be erected on Fourteenth street, opposite Irving place. For conceris we already have several good rooms, and Stcinway’s hali will soon be completed and will meet the public demand. For political and other meetings we have the Cooper Institute and many minor buildings. Thus by the enterprise of our citizens the place of the Academy was being supplied even while that edifice still stood, ané@ as if in anticipation of its demolition, If the Academy stockholders should resolve to rebuild their hall it is to be expected that their plans wil! be upon a much less colossal scale, and that a site further up town will be selected. To throw away more money where so much has already been wasted would be absurd and ex- travagant. The lessons of the Academy fire will nos be lost upon the public if they lead to greater care in the construction and arrangement of our places of amusement, and if they correct the mistaken impression that the members of the paid Fire Department are not as willing as the old volnnteer force to risk life and limb in the performance of their duties. From all ac- counts the firemen behaved admirably, alibough their numbers were insufficlent for so immense ® conflagration, and consequently they were too slow in some of their mancenvres. It is reported that the fire was the work of an incen- diary, and we urge the authorities to use their utmost energies to discover the offender. It is evident that if the Academy were sect on fire maliciously the incendiary intended the fire to occur while the audience was in the building. The atrocious soheme may have been con- cocted for purposes of plunder, since the ladies and gentlemen of the audience could have been easily robbed while making their escape. This may have been the motive of the arson, or private malice may have ac- tuated it, The duty of the authorities is clearly to determine from the best evidence they can collect whether the conflagration was accidental, and to discover, if it were not gcci- dental, who is the wretch that kindled it, Our citizens cannot feel eafe while such an incen- diary is at liberty. For the reat, we suggest that a benefit be given to the wives and fami- lies of the firemen who lost their lives at this fire, and another benefit for the minor artista, whose wardrobes have been destroyed. Much of the scenery and properties in the building belonged to tho stockholders, and was doubt- less insured, or will be covered by the insur- ance upon the building. The operatic ward- robe of Manager Grau, together with the ship and the tree that caused so much merriment recently, was consumed; but Gran is fuil of tact and talent, and can retrieve his own losses without any outside assistance. The public should help those who need help most, and we hope, therefore, that no time and money will be wasted in getting up silly testimonials and complimentary benefits to persons who are so situated as to look upon this fire only as & grand advertisement, but that every dollar that may be contributed, or that can be collected, or that may accrue from legitimate benefit performances, will be dis- tributed by a competent committee among the families of the fremen and of the poor artists and the other sufferers who have lost their little all by this terrible conflagration. A Quaxce ror Avoraer Fox.—An attempt has been made to assassinate Bismark. Here is fine opportunity for some Assistant Secre- tary to take # pleasure trip to Earope in s gov- erngept vesgel at the public expense. Let teagan eg meapeemeies } Congress pass resolutions congratulating Bi» mark upon his narrow escape, and the rest can be easily arranged, a la Assistant Secretary Fox. Warltke Mo: Europe—Ominous Speceh of Napoleon. The speck of war which a fow weeks ago arose from the paltry German quarrel over the — ‘ Danish duchies has grown into a heavy and |) portentous cloud, overshadowing the whole | European Continent. From the Bay of Biscay | to the Black Sea there is a general mustering of the nations for war. The news by the Cuba is positively startling. Thus it appears that “the whole Prussian army, in great bodies of troops, is massed along the frontiers;” that “Austria is bringing into the field every man she can raise, and the whole nation is panting for war;” that Italy is all ablaze with her pre- parations for battle; that all the German States are arming; that rumors were prevalent at Vienna that Russia had caught the contagion and was preparing for a hand in the expected struggle, and that even the Sultan-had taken the alarm, and that the army of Turkey was to be raised to its full strength. There appeared to be no hopes of a Euro- pean Congress, and no sigt@ of mediation. On the contrary, Napoleon had made “a significant speech at Auxerre,in which he said he de- — tested the treaties of 1815’—the treaties under which France was humiliated and razeed by the Holy Alliance. The attitude of France waa, from recent accounts, that of perfect freedom ~ in this existing continental imbroglio. In this speech at Auxerre, however, Napoleon with‘ draws the veil. The treaties of 1815 abolished the empire of Napoleon the First and wiped \ out his boundaries, jgra reconstruction of the map of France and of Europe; and now Napo- leon the Third gives the solemn warning that he detests those treaties. It means that out of the present difficulties between his German and Italian neighbors he intends a comprehensive abrogation of those treaties of 1815, as the sacred duty of the nephew to the ‘imperial memory of his uncle. It is a Napoleonic idea, which means a general shaking up once more — by the Emperor of the Kings and Kaisers of Europe. It means a general’ European war, and perhaps another Holy Alliance. But what are these difficultios which threaten so imminently this expected embroilment of the whole continent? They have grown out of that robbers’ quarrel between Prussia and Aus- tria over those Danish duchies. Wrested from Denmark by an unholy alliance, Frussia claims the spoils and Austria resents the outrage. They both proceed to arm for -war. pounce upon Venetia, believes that the hour is at hand, and proceeds to buckle on her armor, — by land and sea. And here is the danger. Austria and Prussia, if left to themselves, | would probably bluster and persist in the game | of frightening each other till both would be ready for a compromise. But the Italians are in carnest, and from the important fact that Napoleon no longer restrains them we are free — to infer that they feel sure of his support. His speech at Auxerre, like his brief New Year’a | rebuff of 1859 to the Austrian Ambassador, is tantamount (o a declaration of war. _... Mexico, as an equivalent to the House of | Hapsburg for Venetia, bas failed. Napoleon has, therefore, found it necessary and expedient to put an end to his dubious diplomacy with Aus tria. He resumes his original réle, where it was suspended at the peace of Villafranca, and the arming of Italy is the reopening of the drama, We apprehend, from Napoleon’s ominous speech, that in the present posture of these European complications a continental war can be prevented only by the speedy inter- position of England and Russia in behalf of peace. Butas England may prefer the com- mercial monopolies of a neutral, and as Russia may prefer a settlement with the “sick man of Turkey,” the probabilities, as they now appear, sare decidedly in favor of a general European war. “ Crvgtry To Aximats.—We see that “The So- ciety for the Prevention of Cruelty to Animals” has taken up the subject of the overloading of street cars. At their last mocting the chair- man stated that on certain grades of the city lines the burden imposed on « couple of horses amounted to about fifteen thousand five hun dred pounds, or seven tons. He proposed to lighten it by recommending the railroad com- panies to put on an additional horse to assist in making @he ascent in those places. Now we respectfully submit to the society that while they think they are putting the horse before the car in this recommendation they are in reality reversing that ordor of things. The simplest, most natural and most acceptable proposition to all but the railroad companies would be to recommend that the burden itself be lessened. The horses attached to these cars undergo no worse sufferings than the passengers who are packed away in them. We presume that it is hardly necessary to enter into any calculation {o prove that if the cars are built to contain only as many passengers as two horses can comfortably draw, the mo- ment the weight becomes intolerable to the latter the inconvenience and discomfort endured by the former must proportionately increase. Why, then, this being admitted, should the sufferings of the human be less a sifhject for compassion than those of the dumb animal? They are both reduced to a common level by the improbability of making their complaints heard. We trust that the henevo- lent gentlemen composing the society will weigh well these suggestions. They should think a little of their own specics before ex- pending all their sympathies on the brute cre- ation. Errecrs or rus Excue Law.—We notice that soveralNew York rowdies, guilty of cut- ting up Sunday capers in Hoboken, have been brought before New Jersey mngistrates and committed to jail. We also perceive that the Jersey people are moving in the matter of pro- bibiting the sale’ of liquors on Sunday, asa means of defence against the raids of New York roughs. This is very proper for New Jersey. But the law itself iss failure. It was devised ip Albany by a class of country legis lators who knew nothing about the city or what was required to regulate it in the matter of liquor selling. These country legislators enact laws and are not able to tell where they will strike. At one time they hit the right spot; at another they come fat short of it The latter is the cage with the Excise law, so firas its opération on the Sabbath is concorned. People who never before took liquor to thelr Young {| Italy, impatiently watching for her chanco te ©