The New York Herald Newspaper, March 19, 1867, Page 6

NEW YORK HERALD. | OFFIOE N. W. CORNER OF FULTON AND NASSAU STS. THE DAILY HERALD, published every day in the year, Fourcents per copy. Annual subscription price, @14. THE WEEKLY HERALD, every Saturday, at Five cents per copy. Annual subscription price:— Any larger number addressed to names of subscribers 91 50 cach. An extra copy will be sent toevery club often. Twenty copies to one address, one year, $25, andany larger number at same price. An extra copy will be sent to clubs of twenty. ‘These rates make the Waanty Heritp the cheapest publication in the country. Postage five cents per copy for three months. AMUSEMENTS THIS EVENING. BROADWAY THEATRE: Broadway, near Broom treet. —ALL Hatiow Eve—Laresr raow’ New Yorx. 4 NEW YORK THEATRE, Broadway, ite Ne Hotel. —Karauxey Mavovnwxrx, on Sr. Ste* ‘ATR1CK's Evx. THEATRE FRANCAIS, Fourteenth street, near Sixth avenme.—La Paritonxe—Lus Duvx Sovnps. GERMAN STADT THEATRE. 45 and 47 Bowery.— Don Juan. WOOD'S THEATRE, Broad: opposi Hotel.—Uncus Tom's Mie — pongsregraa ad OLYMPIC THEATRE, Broadway.—Bourmian Girw. DODWORTH HALL, 806 ‘Broadway.—Proresson Haura wit Perron His Minagies—L'Escamatitn 4xD Uke Fay Sincine Bixp, SAN FRANCISCO MINSTRELS, 885 Broadway, opposite the Metropolitan Hotel—In rain Ermiorian ENraRraix- mants, SINGING, DaNcING 4Np Burvesques.—! Coog—Sruur Hasn Eaters ov tux Amazon. Lack KELLY & LEON’S MINSTRI site the New York ilotel.—Iw 1: ‘raicrrt! BURLEsQuRs, Bauer e—Parti iN Panis, 72) Broadway, oppo- jonaa, Danons. Eco kN- pkR-Lzox—MADAGascaR FIFTH AVENUE OPERA HOUSE, Nos, 2 and 4 West Twenty-fourth street.—Gairrut & Cmuisty's Minstaes.— Brmoriax Minstexisy, Battavs, Buauesquas, &c.—Tue ‘Ocean Yacur ‘Tux Brack Croox. TONY PASTOR'S OPERA HOUSE, 21 Bowery.—Comtc Vocatisu, Nucro Minsrautsy, Bacuer DIVERTISSEMENT, Woricna Gis or New Yorx. Y WHITE'S COMBINATION TROUPE, at Hall, 472 Broadway—In a Vancety or Liaie Vonmrs p@ Bauuer, 4c. — CHARLE Mochanios’ anp Lavonanie Earentainn Bcmoousor’s Fao.ics. HOOLBY'S OPERA HOUSE, Brooklyn.—Ermortan Mix- Seon axp Buriesques.—Tuz Buack Man Cy THE BUNYAN TABLEAUX, Union Mall. corner of Twenty-third street and Broadway, at 7%4.—Movina Mir- mom OF rar Pickia's Paocerss—Sixty MAGNIFICENT Soawss. Matinee Wednesday and Saturday at J o'clock. NEW YORK MUSEUM OF ANATOMY, 618 Bro.dway.— Hap ano Ricut Anu or Pronst—Tue Wasmincron Wonpmns 1x Natural History, Science axp ART. Laorvnss Daiwy, Open 8 A.M. till OP, ML INSTITUTE OF ART (Derby Gallery), 625 Broadway.— Qeaxp Exursrtion or Paetiwon Tae Repusuican Cover” um cuz TRIPLE SHEET. New Yerk, Tuesday, March 19, 1867, Russia advise the cession of Candia to Greece. Consols closed at 91 for money in London. United States five-twenties were at 7434. The Liverpool cotton market olosed firm and active, with middiing uplands at 13364 to 1364. Breadstuifs firm and upward. Provi- pions steady. It was reported yesterday afternoon that the commu- mication through the cabie was interrupted at the Irish Gide from some unknown cause. Ata later hour, how. ever, our despatches, dated in London, March 18, even- reached us. oe CONGRESS. Ta the Senate yostorday the credontials of Phelp F. Thomas as Senator elect from Maryland were presented, when Mr, Howard moved that they be referred to the Judiciary Committee, Considerable discussion ensued on the subject, and its further consideration was finally postponed until to-day, Bills to confirm certain sales tm South Carolina, to authorize the§ Secretary of the Treasury to sell the government warehouse on the Atlantic Dock in Brooklyn, and for the consolidation and territorial government of In- dian tribes were introduced and referred to appropriate Committess, The joint resolutions to furnish the State of Tennessee with arms and equipments for twenty-five hundred militia and to declare valid the laws of New Mexico were passed. The Supplementary Reconstruc- tion bill was called up, the question being upon the ‘House amendments. One of them was disagreed to, and ‘the bill returns to the House again. The Senate then ‘adjourned. » In the House, under the call of the States for bills and resolutions for reference, a bill to authorize the issue of ‘Treasury notes not bearing interest, to be used im pro- ‘viding a sinking fond for the extinguishment of the public debt, was referred to the Committee on Banks and Currency. Resolutions were adopted calling for infor- mation relative to the trials of Fenians in Canada and the swithdrawal of the French troops from Mexico, The Senate conourrest resolution relative to the investigation of the ‘Treasury Department by the joint Committee on Re- trenchment was agreed to, The Sonate substitute for ‘the Supplementary Reconstruction bill was taken up and ‘with the addition of several amendments was adopted. Tho Senate amendment to the joint resolu- tion relative to the money of the Richmond Danks at prosent in the United States Treas- ury was concurred in, and the resolution goes to the President. The resolution providing for a ship Canal between lakos Erie and Ontario was passed. It passed tho Senate on the Sth instant and now awaits the President’s decision. The joint resolation suspending payments for slaves who volunteered was passed. Seve- ral other bills and resolutions of a local or unimportant cbaracter were also passed. The Committee on Public Expenditures was announced, and the House adjourned. THE LEGISLATURE. No report of the Senate proceedings has been received. In the Assembly bills to amend the act relative to the formation of gas companies and for other purposes were @dvanced to a third reading. The bill w abolish the Fate bills for the maintenance of common schools and establishing free schools throughout the State was con- sidered in Committee of the Whole and ordered toa third reading, The Assembly then adjourned. THE CITY. Both boards of the City Council met yesterday, but adjourned for want of a quorum. A special meeting of the lower Board will be held this afternoon. The Board of Supervisors met yesterday and adopted the county tax levy, the total amount of which is $7,289,603 10, Soveral bills were also ordered to be A mosting of the Kings county Board of Supervisors ‘was held yesterday afternoon, when a considerable submitted a report, including ® prepared act, to be sent to the Legislature, authorizing the raising of $75,000 for the purpose ofgenlarging the Narsery at Flatbush. ‘The report was adopted, There was no meeting of the Board of Aldermen in consequence of the absence of NEW YORK HERALD, TUESDAY, MAROH 19, -1867.—TRIPLE SHEET. ——— ete Grand street and Baét Broadway during !te passage, and he was most unmercifully beaten by a number of men who leaped from the ranks for that pur- pose, Some seven or eight policemen interfered and were served the same way. A reinforcement arrived and the fight became general, the om- cors being severely defeated, twenty-one of them being cut, stabbed or injured so seriously that they had to be carried away for medical attendance. One of them, Captain Barrett, was thrown down a cellarway by the mob, after being beaten until he was insensible. Only a few arrests were made, the police not boing able to muster sufficient force to combat the infuriated mob with any show of success, The anniversary banquet of the Knights of St Patrick took place last might at the Astor House, Speeches were made by W. F. Lyons, President of the Society; J. F. Maguire, Mayor Hoffman, Algernon 8. Sullivan and others, and letters regretting their inability to be Present were read from General Grant, Admiral Far- ragut, Wm, & Hillyer and Judge Dodge. The Friendly Sons of St. Patrick partook of their eighty-third annual inner at Delmonico’s Fifth avenue establishment. The affair was quite successful. Addresses in response to characteristic toasts were delivered by John Francis Maguire, M. P.; Judge Brady, Richard O'Gorman, Mayor ‘Hoffman and others. The enthusiasm among the Fenians in this city bas been giving way to apathy for the last few days, but on the receipt of the news from Ireland yesterday of an interruption in the wires connecting with the cable, hope was revived among them, and their belief ina general uprising on St Patrick’s day was reiterated. Our correspondent in Buffalo says there is no founda- tion for the rumors afloat that an invasion of Canada is immediately to be made. The Fenians are determined to pour thirty thousand men into Canada at some carly date, but it requires time to perfect their organization. The trustees of the Peabody fund for the education of children in the South will probably hold a meeting in this city during the week, when, it is expectod, Mr, Pea- body will be present to give his views concerning tho distribution of the fund. An unknown man was found with his throat cut on the sidewalk corner of Grand and Ninth streets, Wil- liamsburg, yesterday. He died soon after being dis- covered. No clue to the murderer has been found. A decree of divorce has been granted in the Supreme Court, by Mr. Justice Ingraham, upon the report of the reforee, in the case of Robert H. Nowell va, Adah Isaacs Menken Newell, on the ground of adultery. The plaintiff in this action is better known under the nom de plume of “Orpheus C. Kerr.” The defendant is the well known equestrian actress, “The Menken,” now performing in Paris. In the case of Jonathan H. Brown against the Long Island Railroad Company, before the Supreme Court, Circuit, Kings County, the jury returned a verdict yes- terday in favor of plaintiff for the full amount claimed, $1,500, Mr. Brown sued to recover for injuries re- ceived while aboard the cars of the company in Febru- ary, 1865, Francig Mathews was charged before Commissioner Osborne yesterday with having passed a counterfeit $100 bill in payment fora horse. The evidence of two or three witnesses having been given, the matter was ad- journed till Friday. ‘The stock market was buoyant yosterday. Gold closed at 134 There was no general activity in commercial circies yesterday, imported merchandise being generally quiet but steady. Domestic produce moved quite freely, though the business at the Produce Exchange was scarcely so large as on Saturday. Breadstuffs were gen- erally firm, though leas active, Cotton, pending the re- ceipt of later cable news, was quict but firm, holders generally demanding an advance. Notwithstanding the limited supply on sale, the market for beef cattle ruled dull, though the advance estab- lished last week was maintained, especially upon extra cattle, which were quite scarce, and commanded gener- ally 170. First quality sold at 163c.a17%¢c. Fair to good lots realized 160. a 16c., while common sold at prices ranging from 12¢. to 14c. Milch cows were dificult of sale, and the tendency of prices is downward. Occasional sales of fancy cows were offected at $120 a $125, while good cows generally sold at $80 a $00. Veal calves were gcarcely as firm, under increased receipts and @ limited demand; we quote extra i3c., prime 120, a123¢c. and inferior to common 9}{c, a llc. The market for sheep and lambs has ruled firm and active, closing strong at 100. for extra, 93¢c. for prime, and 80. and 8Xc. for inferior to common. The hog market, an- der a marked diminution in the receipts, has advanced fally 4c, per Ib. About eight car loads were on sale yesterday and sold at the following prices:—$c. a 8%. for heavy prime corn fed, 8c. a 830. for fair to good, and 736. a 8c. for common and rough. The total receipts were 5,865 beoves, 75 milch cows, 1,005 veal calves, 11,192 sheep and lambs, and 14,233 swine. MISCELLANEOUS. Our correspondence from Mexico is dated at Vera Cruz, March 4, and Queretaro, February 22. The work of forti- fying Vera Cruz was being pushed rapidly forward. Tho artillery of the departing corps had been shipped, and the evacuation would not last more than six days longer. Marshal Bazaine was oxpected to leave in a day or two. On his trip from the interior Bazaine, it is said, was robbed of $352,000, The city of Tucalingo had been re- captured by the liberals. Our Queretaro correspondent gives an account of Maximilian’s march from the capital, and his own unfortunate adventures among guerilias, whereby his winter wardrobe was reduced by forced loans to a shirt, @ pair of socks and a picce of soap. Maximilian’s objective point was San Luis Potost, Oar letters from the South relate almost entirely to the political situation under the Reconstruction law in Virginia, South Carolina and Louisiana, In Virginia the military rule has already been declared supreme, but the fact of civil law being abolished is hardly apparent, In Charleston the revolution is accepted with apathy, Bo one except the fire-cating politicians seeming to take the matter much to heart. In Louisiana General Sheri- dan’s order postponing the New Orleans municipal elec- tion was acceded to without disturbance, The impoach- ment resolutions relative to Governor Wells wore re- ferred to a special committee of nine. Our Carlisle (Pa.) correspondent gives further particu- lars regarding the recent affray between soldiers and cit- zens in that town. A feud, it appears, has existed for a Tong time between the soldiers and a party of rowdies in the town, and culminated in the severe beating of two of the former on Friday, A reinforcement arrived from the barracks, anda fight in hard earnest commenced, some of the rowdies hurrahing for Wilkes Booth during the melee. Our Chicago correspondent gives a full account of the proceedings of the recent Fenian Convention in Chicago. The flood in the Mississippi river is almost unpre+ cedented. The river at Memphis is forty-three miles wide. Helena, Ark., and Friar’s Point, Mias., are sub- merged. The railroads ranning South from Nashville are being rapidly repaired. The colored citizens of Columbia, 8. C., held a meeting yesterday to celebrate the passage of the bill enfran- chising them, when they were addressed by Wade Hampton, four other prominent white citizens, and two colored orators, Sentiments of affiliation with the rebel white popalation were expressed, and one of the colored orators stated that they would urge Congress to repeal the disfranchising clause, A similar meoting was held in Savannah, when three thousand negroes were present. In the East Baltimore Conference of the Methodist Epecopal Church, recently held at Frederick city, Md., resolutions wore adopted favoring the education of the freedmen and the spread of temperance. General Grant has assigned General John Pope to the command of the Third Military district, including the States of Goorgia, Florida and Alabama, in place of Gen- eral Thomas, who, at his own request, will be continued in command of the Department of the Cumberland. ‘The Negro Testimony bill failed in the Maryland House of Delegates yesterday, by reason of the want of a con- stitutional quoram, ‘The brig Charles E, Savage, recently launched at Bal. timore, has been wrecked. The vessel and cargo were partially insured. The captain and crew were rescued, Governor Wells, of Louisiana, yesterday vetoed the joint resolution appropriating moneys to pay exponses at Washington of Senators and Representatives elect to Congress. The United States steamer Sacramento was at Jolla Caffa, on the coast of Africa, on the 29th of January, all on board being well. ‘The fire in Howard's row, Memphis, which occurred on Saturday, broke out again om Sunday, destroying two business houses and involving a loss of $100,000. ‘The Masonic Hall, American Express Company's office ‘and five stores in Kokomo, Ind., were destroyed by fre yesterday morning. Promissory notes and government bonds to the amount of $6,000 were stolen from a bill broker's office fh Philadelphia yesterday. The Supplemental Recenstruction Bili-The Prospect in the Seuth. As the Supplementary Southern Reconstruc- tion bill, substantially in the form in which it has passed the Senate, will doubtless soon be proclaimed a law of the land, veto or no veto, we may briefly restate its leading features. First, before the lst day of September next, the commanding general over each of the five military districts into which the ten excluded States are divided shall cause a registration to be made of the authorized voters, white and black, under a specified oath of loyalty, in each county or parish of his district. Second, upon at least thirty days’ notice those military commanders respectively shall cause an election to be held by the registered voters for delegates to a reorganizing State conven- tion, and for or against such s convention, pro- vided that such convention shall not be held unless a majority of all the registered voters shall have voted on the question, yea or nay, of holding such convention. Third, when convention shall have thus been ordered by & majority of the voters the commanding gen- eral, after overlooking the returns, in proclaim- ing the result shall, within sixty days from the election, call the convention together, “and said convention, when organized, shall first de- termine by a vote whether it shall or shall not proceed to frame a new State constitution, ac- cording to the terms of Congress, and if the vote be in the affirmative the convention shall then proceed to the work.” Next, when a new constitution shall have been framed, it shall *be submitted for ratification, on thirty days notice, to the registered voters representing’ the people. Next, with the constitution thus ratified, it shall be submitted to Congress, and if accepted by the two houses, as in conform- ity with the conditions laid down, the State concerned shall be declared entitled to a restoration to Congress, &c. ‘The bill further Provides that all these provisional elections are to be by ballot. Now, what is the prospect of Southern resto- ration under this Supplementary bill and the original law of March 2? In the first place comes the most difficult part of the work—the separation of the sheep from the goats in tho registration of voters; for those rebels ex- cluded by the pending constitutional amend- ment from office, subject to a two-thirds vote of Congress, are excluded from the ballot box in these reorganizing elections. The military commanders are allowed all the interval to the last day of August to appoint their registering places and subordinate officers, to prepare their plans, rules and books, and to make their registrations, But we think that all this work may be afsily done by the first of June. Then thirty days’ notice for the election of a conven- tion will bring th@ election on the first of July. Then, assuming that the whole interval of sixty days allowed wif! pass before the con- vention elected and ordered shall assemble, it will bring us round to the first of September with the full organization of the convention. Let us say next that it will occupy a month in framing a State constitution under the terms of Congress, and as another month will then.pass before a ratification can be had from the peo- ple, this ratification will carry us to the firat of November. Meantime, under the act of March 2,0 State Legislature must be elected, and it must ratify the pending constitutional amend- ment, and this amendment must be declared part of the federal constitution before any one of the outside States can be restored. But all these conditions may be fulfilled in season for the regular meeting of Congress in December next, if the President of the United States, his commanding district generals and official sub- ordinates and the ruling politicians and white people of the ten States concerned will only act harmoniously together in view of the great desideratum of a restoration to Congress as soon as possible. Wo expect before next March to announce to the world the complete re-establishment of the Union on the new basis of universal liberty and civil equality, with the restoration of every Tebel State to Congress. The President has manifested in his appointment of his five dis- trict military commanders—Schofield, Sickles, Thomas, Ord and Sheridan—his purpose to execute these laws of Congress faithfully; and from the Southern civil experience and good services of cach of these officers we are satisfied that they will carry out these laws as quietly and kindly as possible to the people of the several States concerned. Whether, therefore, the ten excluded States shall or shall nothave a voice in this Congress and in the election of the next and our next President will depend upon the course of the raling white class of each of the States directly concerned ; and that class, though to some extent disfranchised in this work of reconstruction, we are gratified to be- lieve, is rapidly coming round to the wise policy of @ prompt and faithtul compliance with the terms of Congress, The prospect, therefore, of Southern restora- tion is good ; and the encouraging indications we are daily receiving from Virginia afid all the way through to Texas warrant the belief of immense advantages to all those States in the way of Northern capital and enterprise in view of large crops, even this year, of corn, tobacco, cotton, rice and sugar. Cheerful sub- mission to manifest destiny will surely bring to the South, in allvance of Southern restoration, those great essentials of financial confidence in the development of Southern industry—wealth and prosperity. The Binck Crook and the French Stage. A marked reaction has just set in abroad in reference to the class of pieces of which the Black Crook is the type. A figurante named Cora Pearl, a girl without any talent as an ac- tress, recently created a sensation at one of the Paris theatres by the adroit manner in which she exhibited the beauties of her person with- out actually violating the police regulations. Every one went to see her and not a few of the rich rouds of the French capital made fools of themselves by the enormous sums which they lavished upon her in the shape of pres ents. At last a feeling of indignation at this shamefal outrage on’ public decency began to manifest itself among the andiences, and it has culminated in such an outburst that Mlle, Cora has been compelled to quit the theatre, The French stage has hitherto borne the op- probium of all the indecencies which have been introduced on our own boards. The Black Crook was claimed to be an importation from it, and its nuditiés were defended on the ground that they did not transcend the artistic limits allowed in the Buropoan theatres. Not appreciating exactly the force of this argu- ment we protested against ite application to our own boards, The art theory, however, prevailed, and the Black Crook has been running ever since its career of corruption and demoralization, Now that the French public have shown that they do not approve of such décolletes exhibitions it is time for ours to consider whether they can afford to endorse what the Paris people regard as too indelicate for them, In an artistic sense our stage stands sufficiently low% we trust that in a moral one it will not be allowed to depreciate still lower. Lord Derby’s Reform Bill. Yesterday’s telegram put us in possession of the principal points of the Reform bill which, by the time this is in the hands of the reader, the Derby government will have sub- mitted to the consideration of Parliament. It is impossible to refuse to admit, if the outlines of which we are in possession prove to be correct, that this is the most liberal measure of reform which has ever been brought forward by any British government, We do not wonder et all at that when it became Amown to the House of Commons what was the course which Lord Derby and his friends intended to pursue Mr. Lowe should have expreased his amaze- ment ,that they had joined him in ousting the Ruseel-Gladstone Ministry. Testing the late government and the present by their respective measures, one feels as if parties had entirely changed sides—the liberals having been trans- formed into conservatives and the conserva- tives into liberals. This last bill, in fact, isa decifled advance on that of their predecessors. At the same time we must not forget that during the interval which has elapsed since the defeat of their measure the whigs, not less than the tories, have made rapid strides in a liberal direction. Mr. Bright’s vigorous agita- tion and the hearty encouragement which he bas received from the people have rendered a large and liberal measure necessary, come from whose hands it might. A ratepaying household suffrage, qualified by a two years’ residence, may require certain explanations and even modifications, bat sub- stantially it is almost certain to be accepted asa fair and satisfactory arrangement for boroughs. The franchise based on a one pound yearly tax or thirty pounds in a savings bank, or fifty pounds in the funds, will cover a large class, such as lodgers and others who have hitherto been totally unrepresented. These two provisions alone will very largely increase the number of voters. The granting of the suffrage to all members of the learned profes- sions, clergymen of all denominations duly cer- tified by their respective bodies, medical prac- titioners and lawyers, including also all grad- ‘uates of universities, is undoubtedly a sensible and considerate step in the right direction; but as the greater number of these are either al- ready possessed of the right of voting, or are in @ position in which they can easily claim it, this new franchise will not lead to any very material change in the character of existing constituencies. It is proposed to reduce the franchise in counties from twenty to fifteen pounds. Fourteen pounds has long beena favorite figure with the liberals, some of whom have even been anxious to lower it to ten pounds. Whether the fifteen pound franchise will be accepted by the liberals as a satisfac- tory arrangement, or whether in the event of its being objected to the government will not consent tos still further reduction, we must wait to see. So far as we are in possession of the details of the measure no mention is made of the double votes and certain other checks and balances of which Mr. Disraeli is so fond. Of the merits of the bill as a*whole we cannot speak until we haye it fully before us. This much, however, may be said with safety—that when tories have become so liberal«reform is in a fair way of being satisfactorily settled. The advocates of manhood suffrage are little likely to receive much encouragement, either within the walls of the House of Commons or from sensible and intelligent people without. Although so distinguished a philosopher as Jobn Stuart Mill does not think that the pro- gress of reform can stop at residential man- hood suffrage, but must go on until women, too, are enfranchised, it is noteworthy that Jobn Bright bas never allowed himself to be carried to this wild extreme. Household suffrage is all that the great tribune asks for. Unless, therefore, there are in the bill certain objec- tionable elements which do not at present appear the Derby-Disraeli government may, after all, have the honor of settling this long vexed question. Industrial Dwellings. The question of providing comfortable and economical lodging houses for the working classes is one that is occupying a great deal of attention. The amount which is paid by them in the shape of rent is wholly out of pro- portion to their earnings. The accommoda- tion obtained for it is of the poorest kind, and is good neither for their physical nor moral health, A few philanthropic gentlemen, among whom Mr. A. T. Stewart stands promi- nent, have set aBout remedying, as far as lies in their power, this unsatisfactory state of things. Mr. Stewart has purchased ground in different parts of the city and will soon com- mence building his industrial lodging houses. His efforts, however, and those of the few gentlemen who are disposed to follow his ex- ample, will go but @ small way towards re- lieving our working people trom the extor- tions practised on them by the owners of tenement houses. The movement, to be generally beneficial, must be undertaken on a large scale. The first thing to be done is to divest it of the prejadice that affects all such undertakings, that it is a purely eleemosynary one. Itis un- questionably in @ benevolent spirit that Mr. Stewart takes the lead in it; but we see no reason to doubt that it will be self-supporting and that if parties choose to enter into it with speculative views they can make money out of it, There is no kind of house property in this city which pays © better interest for money than tenement houses. If the Legislature did its duty and took care that they were kept im proper sanitary condition the profit would un- doubtedly be less ; but they would still return from fifteen to twenty percent. What, then, is to prevent industrial lodging houses built on Mr. Stowart’s plan realizing » handsome reve- nue after providing for all the conditions of health and comfort which such dwellings should possess? In London the experiment of making the building of these dwellings joint stock speculation has been tried, and they have been found to fully answer the expecta- tions of the projectors, At. a meeting of the Industrial Dwellings Company in that city the other day Mr. Samuel Morley said it was quite a mistake to suppose that the investment in improved dwellings for the poor did not pay; for the fifteen thousand dollars he had in- vested in them had increased, and that ina very short time, to twenty-five thousand dol- lara, In the dwellings provided by this com- pany the rents average from one to two dollars per week for a couple of rooms. Why should not similar speculations in this city be followed by equally substantial results ? Our working classes earn better wages than the English operatives, and can certainly afford to pay as high rents, If the capitalists who risk their money in mining and oil stocks were to turn their attention to this claes of im- provements we would guarantee that they would make more out of them than in enter- prises carried on at a distance and which par- take more or less of the character of gambling. The Marquis of Westminister and other real estate owners of London are so satisfied as to the profits to be made out of them that they are laying out large sections of their property in this way. The results of Mr. Stewart's ex- periment, though it is entered upon with purely philanthropie motives, will, we believe, exer- cise a most beneficial effect. It will demon- strate the correctness of the views we have advanced and induce others of our merchants and capitalists to employ portion of their wealth in promoting the comforts and advanc- ing the welfare of the classes to whom they are so largely indebted for their prosperity. A”. Patrick’s Day in New York. Tho anniversary of Ireland’s patron saint was celebrated in New York yesterday with more than ordinary spirit and enthusiasm. We give elsewhere a very full and graphic descrip- tion of the scenes and incidents of the day. The societies mustered in full force. The pro- cession was one of the largest ever witnessed in the city on such an occasion, and from the number in the streets it seemed as if every man and woman of Irish birth must have turned out to do honor to the day. Unhappily the day was marred by an oc- currence that will be very deeply regretted, and by none more than by the great body of our adopted fellow citizens. About one o’clock in the afternoon, when the head of the proces- sion had reached the City Hall, a riot occurred on the corner of Grand and Pitt streets, which resulted in the serlous wounding of a num- ber of policemen. It originated in one of those unfortunate collisions which, trifling ia themselves, so often have serious results upon exciting occasions and when men are apt to be more or less under the influence of liquor. A truckman, who chanced to be in the way of the procession, was maltreated by some of the more thoughtless or reckless of the crowd, and the policemen who happened to be near very properly went to his protection. This brought on a fight between the police and a portion of the procession, and before it ended some eighteen or twenty of the force were seriously injured. This unfortunate affair isthe more to be deplored since the police were diligently and effeotively assisting the procession by keeping the streets clear and preserving order along the line of march. Some of our Irish fellow citizens consider that they would fall in showing proper respect for their patron saint without indulging in heavy libations to his memory upon his anniversary ; and it was no doubt this peculiarity in the celebration of the day that lay at the foundation of this lamenta- ble occurrence. The main body of the proces- sion remained in ignorance of the disturbance, and it will no doubt be a source of deep re- gtet to the many respectable societies who took part in the display. The recent Fenian risings of course mainly occasioned the unusual enthusiasm with which the day was celebrated. The Irish are a warm hearted, generous people, and they love the land of their birth with a devotion that does credit to their race. There may be those who regard the attempts at revolution in Ireland with distavor, believing them to be hopeless of success and only calculated to bring greater sufferings upon the people; but none can’ witness the enthusiasm they kindle io the hearts of those Irishmen who have made America their home without admira- tion, or withhold from the struggling nation their earnest sympathy. The readiness with which the Irish of all classes in the United States have contributed their money to the cause has sometimes been deplored by their best friends ; yet it must be conceded to be a praiseworthy evidence of the sincerity of their loyalty to the land of their birth. Yesterday every Irishman felt himself a patriot, and was prepared to march at once to the mountains of Kerry or into the streets of Dublin ; and if the population of this city who took part in the celebration of St. Patrick’s Day could have been suddenly transplanted to the old sod the British lion would have been thrown into a panic from which, at his advanced age, he might have found it difficult to recover. The Democracy—Running fm the Old Rut. The last organ of the old copperhead demo- cracy, after cursing George Washington, is now arguing to prove that the work of the War of Independence was a miserable failure; that there is “no nataral principle of cohesion” between the citizens of the United States ; that on’ the contrary the feeling of “repulsion” between the people of the different sections of the country is at once natural and irremov- able, and that Washington’s idea of a united nation, bound together.in the bonds of frater. nal love, was the idle dream of a visionary. This being the case the last organ can see no future for the democratic party except by a return to the doctrine of State rights; by wiping out all the lessons of the rebellion; going back to the principles of Calhoun, with each State at liberty to frame its own domestic institutions, including the divine one of negro slavery, and restricting the powers of the federal government to such matters as relate to the common defence and free commerce among the States. Then, with the annexation of Mexico and Cuba as their watchword, in order to maintain the balance of power between the North and the South, the old copperhead leaders hope to again return to the pleasant pasturage of office and enjoy once more the power and patronage from which they have been so long debarred. The preaching of the copperhead organs must convince the real, live of the present day that they have nothing to hope for unless they discard and cast off forever the men who for thoir gwn selfish purposes are endeavoring to compel them to run id the old rut If they desire to take & position in the future of the nation they must keep pace with the progress of the age and accept the lessons of the past seven years as living facts. The people have decided that the government of the United Siates ia something more than the sham and the shadow that the old democratic fuglemen would make it, and that it shall never be destroyed by open rebellion or by the insidious doctrine of “State rights.” There are enough issues in the future for the development of true democratic principles, and the questions that will give rise to them will come upon the country soon enough. But the Union must first be recon- structed, and the substantial fruits of the triumph of the government over a wicked re- bellion must first be secured. If the demo- cratic party, under the teachings of their old leaders, stand in the way of that, they will be swept aside and buried in the same grave with their ancient idols—State rights and negro slavery. Stockjebbing in the Management ef Ratiway and Steamship Companies. It is unfortunately ® notorious fact that mem generally seek and fight for places in the man- agement of railway, steamship and other pub- lic companies, not for the sake of proving them- selves useful members of society, but to ad- vance their own selfish interests by every means at their command, provided they involve no risk of consigning themselves to a peniten- tiary. A new board of railway directors is no sooner elected than a number of heads are at work to discover the quickest method of filling individual pockets at the expense of the stock- holders in general, and conscientious scruples, it may be safely assumed, are very seldom allowed to stand in the way of the execution of any plans that may be decided upon by the majority. . These reflections are suggested by the re- cent action of the directors of the Hudson River Railroad Company in voting to double the capital stock for the ostensible purpose of double tracking the entire road and con- structing new passenger and freight depots to meet the increasing traffic of the line. It is proposed to issue the new stock to the old stockholders at the price of $4,000 for each bundred shares. This, therefore, would be equivalent to selling it at sixty per cent dis- count, a proceeding which might reasonably be regarded as a ruinous sacrifice. The s‘ock in this way is to be increased from nearly seven millions to within a trifle of fourteen millions, Of course it will require twice as much money to pay « ten per cent dividend upon the stock after this wholesale “watering” as it does at present, and it is an open question whether the net earnings of the road will be sufficiently in- creased by the improvements which the pro- ceeds of the watering process are to effect to double the amount of money in the compeny’s treasury. In any case, however, the plan which has of late become so common with railway and other companies of issuing new stocks to be condemned, and in the present instance the large holders of Hudson River shares who favor this project are liable to the suspicion of being influenced by stockjobbing motives. Sueh improvements as the company in ques- tion propose should be made out of the earn- ings of the road, anda sinking fund should be established for that purpose. It is always to the ultimate advantage of s company to reduce or postpone dividends rather than increase its liabilities by issuing new stock ; for in propor- tion to the extent to which it does so its divi- dend paying power is diminished. We had very recently a conspicuous instance of this in the decline of Pacific Mail from about 240 to 220, and a reduction of its quarterly dividend from five to three per cent, after it had declared an extra scrip dividend of thirty-three and a third per cent at the end of last year. How is it that most of the railways in this country are poor dividend paying properties, notwithstanding their enormous traffic? Sim- ply because they are generally managed by corrupt men, who strive to divert as much as possible of their earnings into their own pock- ets, and who look upon the stockholders pretty much in the same spirit as cormorants re- gard fish. In France, where the government superintends the railways, they are much bet- ter properties than here, for the obvious reason that the opportunities for mismanagement and corruption are very limited, whereas with us they are unlimited. The time will come, how- ever, when all the railway stocks now floating about Wall street will be bought up for per- manent investment, and then the present, in- ducements to “water” stocks and increase or suspend dividends without good cause will no longer exist, and such stockjobbing as we have witnessed in Pacific Mail and are threatened with in Hudson River will be known no more. Proposed American Line of Mall Steamshipe to Europe. We notice that Mr. Pomeroy has reported from the Senate Committee on Post Offices and Post Roads a bill “to provide for an American line of mail steamships to run between New York and one or more European ports.” This bill has passed a second reading, and it is said that the Postmaster General has approved of it in a special report to the Senate. It authorizes the Postmaster General to {contraet with the Commercial Navigation Company, a corpora- tion existing ander the laws‘of New York and under a special charter granted by the Legls- lature last year. After stating what sort of vessels shall be constructed for this service the bill provides for the compensation the company shall receive, which is to be all post- age on letters, newspapers and other matter transported by or in the mails carried by the company. This is all very well, and perhaps we might be disposed to greater liberality for the purpose of promoting American steamship *lines and shipbuilding. ‘We would encourage such important national enterprises. But the projectors of this scheme have gone too far in the kind and amount of aid expected. The bill actually provides that the Postmaster General, acting for the government, shall guarantee the payment and interest of the bonds to be issued by the company. This appears to us an ex- traordinary proposition. If the government is to guarantee the bonds of one eompany or cor poration, that is to say, if it is to furnish the capital, through its credit, for one kind of pri- vate business, on the plea of being useful to the country, why not guarantee the bonds for establishing any other description of useful business? Why not for eompanies of ship- builders, of tron manufacturers or any other companies? The whole thing is wrong and full,