The New York Herald Newspaper, July 2, 1867, Page 6

6 NEW YORK HERALD. JAMES GORDON BENNETT, PROPRIETOR. JAMES CORDON BENNETT, JR, MANAGER. BROADWAY AND ANN STREET, All business or news letters and telegraphic despatches must be addressed New York Herat, Letiers and packages should be properly scaled. Rojected communications will not be returned. es = olume XXXII. AMUSEMENTS TH BROADWAY THEATRE, atreet,—Oxiver Twist. WORRELL SISTERS’ NEW YORK THEATRE, oppo. site New York Hovel.—Nay, Tax Goon-rox-Notuing—CiN- DRRBLLA—IKis TUTOR. THEATRE FRANCAIS. Fourteenth strect and Sixth @vonue,—Bunzrit or Mx. Pors—Tuz Huncusack. Broadway, near Broome BOWERY THEATRE, ory. —CATARCT OF THE GANGES, OLYMPIC THEATRE, dway.—Bririsu NeorRaLiry. BANVARD'S NEW YORK MUSEUM, Broadway and Phisvioth sirect.—Le AUBEKGISTE; OR, THE FPOSTILLION OF NVA Ly ACADEMY OF MUS: ‘Taoure OrJarankse AX ng place.—Tae Imeeeran s Taxig WONDERFUL Fears, TERRACE Fitty-nin' Concarr. GARDEN, Third Avenne, Fifty-eighth and te ‘uropoms Tuowas’ Poruuan Ganvex FIFTIT AVE Twonty-fourth Krmvorian Mawt Diack CROOK. LER'S AMERICAN THEATRE, 472 Broadway.— et, Farce, Pantomime, Buauesques, ET#.0rtay, AnD SextiwextaL Vocatisas, £¢,—TeMPTATION; O%, toe Laisn Ewickant. A HOUSE, Now. 2and 4 West mivvix & Cuntstr’s Minstrets,— Battaos, Buwresquas, &¢.—lax BROADWAY OPERA HOUSE, No. 60 Broadway.—Tax Georgia MINSTRELS IN THEIR PECULIARITIES, NEW YORK ASSE TProresson Lovenenta TRUE —GiBB's STKKEOF ¥ ROOMS, 1,198 Broadway. — © AMMIDEXTEROUS Paustipiarra- HOOLEY'S OPERA HOU srRuisy, BaLtaps aNv BURL rooklyn.—FerHtOPran Mrw. SQuKS,—TOO Fast ror Sarery. BOYS' ART GALLERY, 815 Broadway.—Exmsnition oF Paintines sy Native xo FoRwien ARCS. NEW YORK MUSEUM OF ANATOMY. 618 Troadway.— Heap axp Ricnt Anw oF Puoest—Twa Wasninaton ins—Wonpers im Natorat, Histor Lectures Dairy, Open trom 6 A. M. SHEET. EUROPE. By special telegrams through the Atlantic cable, dated in Paris, st. Petersburg, Berlin, Pesth and London yeaterday, July 1, we bave very important news from Europe, including a full report of the highly significant speech delivered by Napoleon at the award of the premiums in the Paris Exhibition. The scone was most britiant. Sorvia ts in insurrection, A great popular aziiation had arisen in the Turkish Provinces. Stratmerovitz had been proclaimed a Dic- tator by the Servians. the English House of Commons Lord Stanley, in to a question of Mr. Boxter, said that the gov- @rnment was not making very rapid progress in the matter of the Alabama claims, but still hoped for a Gatisfactory séttloment, Tho steamship Java, which left Liverpool on Juno ‘22, arrived at Halifax at two o'clock yesterday afternoon, and sailed at four o'clock for Boston. THE CITY. Tho Board of Councilmen met yesterday, when a veto menage was received from the Mayor disapproving of the resolution adopted by the Common Council directing that tho further opening and widening of Church street ‘eball be discontinued. His Honor favors the action of the Common Council, but returns the resolution without hie signature on the ground that {t was illegally adopied. ‘The reports of the Comptroller on the financial condi- on of the city and county of New York, with an esti- mate of the expenses to bo met by taxation for the State, county and city governments for the current year, were submitted to the Board of Supervisors yesterday. Another private meeting of the Metropolitan Revenue Board was held yesterday. An order for the examina- tion of inspectors of liquors within this district on Wednesday was issued. The business of the Board was mainty directed to perfecting details for the enforce- ment of the revenue laws in the Metropolitan district, The international Caledonian games, under the man- agement of the New York Caledonian Club, came off yes- terday at Jones’ Wood. An immense crowd was present, and prizes were distributed for excellence in twenty-one different feats. Thomas Russell, of Ottawa, Canada, won six gold medais in diferent games, The entire affair was @ marked success. An order of examination of the defendants in the Mer- chante’ Union Express Company's suit, now pending, having been granted by the Supreme Court to the plain- ti, yesterday an order to show cause why that order Should not be vacated was obtained by the defendants on the ground that the original order was unnocessary, ‘as they bave never refused, but have always been will- ing, to submit to such examination. ‘The divorce suit of Charles Loges vs. Bridget Loges ‘was tried yesterday in the Supreme Court, Circuit. The defendant did not appear to defend the suit, and the plaintif submitted evidence to show that tho defendant ‘was an inmate of a house of prostitution. The jury re- turned a verdict for the plaintiff annulling the marriage without leaving their seats. Tho hearing of the case cocupied about fifteen minutes, ‘The stock market was strong and active yesterday. Gold closed at 138%. Tho large receipts for the past week tended to depress the maricet for beef cattle yesterday. A decline of 110. a 20. per pound was submitted to, and at the reduction trade was slow, though about ali the offerings, which com- Prised 1,800 head, wore disposed of. There was noticeable some irregularity in prices. Extras sold at 17c. a 17.\c., prime 16\sc. a 16% c., first quality 15K%0. a16\¢., fair to good 14K c. a 16¢ and ordinary to inferior 12. a 140, Mitch cows remained dail and heavy. Woe quote the range $40 a $110. Vealcalves remained unchanged, being dull and steady at 130 for extra, 120. a 120. for for prime, 1lc. a 11 ic. for ordinary and common and ‘Thc. a 90. for inferior. Sheep and lambs were siow of sais, bat previous prices were maintained, extras selling at Tc, prime at 6\g0. a Tc, ordinary and common at Go, aGige. and inferior at 4c. a5i¢c, The hog market showed no change; there was rather more firmness no- thosabie, however, About 28 car loads were on sale, and ail sold at $7 @ $7 40 percwt The total receipts ‘were :— 6,041 beeves, 63 milch cows, 2,141 veal calves, 20,586 sheep and lambs and 20,277 swine. MISCELLANEOUS. ‘The Anstrian and French Consuls at New Orleans bave received official information, which is consid. ered reliable, confirming the reported execution of Maximilian. A general feeling of regret at the death of one who was but a few days ago considered in personal antagonism to the favorite prin- ciples of our government, appears to prevail among those in authority at Washington. Secretary Seward is blamed bitterly for the mildness of bis tone in requesting, and not demanding, that the life of the unfortunate Prince should ‘be spared, Secretary Stanton, it's said expressing con- domnation of his course in very strong terma An {n- testing personal review of the Querétaro campaign by the Heaatn correspondent, who followed Maximilian through it all, will be found ia another column this morning. Our last advices from Buenos Ayres, by bark Damon, Captain Wilkins, are to May 16. The cholera had almost subsided in Buenos Ayres, but Montevideo was being visited by the scourge. The Iatter port, which had been entirely closed to the river Plate vessels, is now opened and @ quarantine of about five days énforced. Bustness was dull, and dovhing doing in freights for the United Bates. Wo have files from the Woat Indies dated at Kings. ton, Jamaica, to the 1ith of Jane. The Governor ap- pointed the Hon. EK E. Rushworth, Gilbert Shaw, Obr! tian L. Hider and William M. Anderson a commission to foquire into and report apon the subject of immigration (@ the island, as from experience gained during the last NEW YORK HEKALD, TUESDAY JULY ¥ 1867.—TRIPLE SHKET. sefzon, bis Excellency is convinced ant changes are necessary in the under which immigrants are introduced into the colony. Dr. Duira, R. N., Deputy Inspector of Naval Hospitals in Jamaica, died at his official residence, Port Royal, June 8 Her Majesty's steamer Niger, Captam Bruce, arnved at Port Royal Her Majesty's steamer Barra- couta took from the barbor the members of the Mackay court martial, bound for British Honduras, Trade was depressed in Kingston, There a steady demand for ton- nage for the United States at $4 50 $6 fur wood. The Constitutional Convention reassembled yesterday, when Mr. Alvord, according to his notice on Saturday, moved a call of the house, but withdrew it immediately, ashe was satisfied ho would not be sustained by the Convention, Several memorials for liquor prohibitions and the extension of suffrage to all races and sexes were received. Resolutions relative to the Judiciary Commit- tee, to the jury system and other matters, were re- ferred. The report of the Committee on Suffrage being called up its consideration was postponed until Tuesday next, and the Convention then adjourned until Monday evening, the 8th instant, The evidence taken in the Surratt trial was more than usually interesting yesterday. After the cross-examina- tion of Weichman Dr, McMillan was called and testified to becoming acquainted with Surratt when he was in disguise, crossing the ocean to England, The prisoner during the voyage, darkly hinted several times at » great deed he had done, and on one occasion wished that he could return and serve Andrew Johnson as Abraham Lincoln had been served. He also confessed to having received large sums from Benjamin, the rebel Secretary of State, and that he, with other parties, had shot Union prisoners who were trying to escape, The prisoner's counsel, Mr. Merrick, badgered the witness to such an extent that*tho latter retorted by telling him that his acts were those of a coward and a sneak, and the Court was compelled to interfere by telling Mr. Merrick that ho must not worry and and annoy witnesses, Our special correspondent at Nashville says the na- tional banks ot Tennessee are a swindle upon the govern. ment and a nuisance that should be wiped out, and proceeds to exemplify bis assertion in a manner that leaves no doubt of its truth, Some of the banks have received from Mr, Spinner a large excess of government deposits over their secured capital stock, The profits in some instances are enormous, and the government funds were in sovoral cases during the war used for the purpose of ehipping gold to the rebels, The interest charged by some of the banks is usurious, being fre- quently as high as tweive per cent, while tho law of the State allows only six per cent, Ashrowd echeme for purchasing government vouchers at from cighteen to thirty per cent discount, with government deposits, was successfully carried on during the last dayg of the war, rascally quartermasters being near at hand to cash the vouchers at par as soon as the bank officials presented them, Altogether, some startling revelations are made sto the insecure condition of national funds in the hands of these national bank officials, Our special correspondent with General Custer’s com- mand on the forks of the Republican, sends vews from the camp of the Seventh cavalry up to June 22 A re- port has recently prevailed that Caster had been defeated and killed, but no mention of the circumstance is made up to the date of the present letter, General Custer at that time being actively engaged with his command. Nothing in reference to the rumor has been received at any of the Departmenta in Washington. The new government of Canada, under the Confeder- ation Act, was inaugurated at Ottawa yesterday. Lord Monek took the oath of office as Governor General. Several officers of his privy council were knighted; salutes were fired, flags hoisted, and a general holiday taken. The day henceforth will be called ‘Union Day." At Montreal and Quebec the demonstration was even more impressive, but at Halifax it was rather’s dull affair, several flags being at half mast, and two news- papers coming out in mourning, The Scotch, English and Trish societies refused to join the procession. The county courts of Tennessee having been requested by the chairman of the Conservative Central Committee to appoint officers to hold the State elections, Governor Brownlow has issued a proclamation declaring the courts ‘Dave no such authority, and directing his militia general to see that the law regarding the franchise is correctly administered. * Senator Wilson has said that he favors Grant for next President; believes the Southern States will give half their vote to the republicans, and that that party will win the next election. He also believes that the July session will do nothing beyond passing an amendatory act, Six cases of yellow fever were reported to the New Orleans Board of Health yesterday, three of which proved fatal, The old homestead of the Washburn family, the birthplace of ex-Governor Washburn, of Maine, and Congressmen E. and C. ©, Washbura, ich they had just fitted handsomely, and to which they rev- erently made a pilgrimage every summer, was burned down on Saturday, The Spanish government has directed the Captain General of Cuba to extend all the aid required by the submarine cable company im laying the telegraph be- tween Havana and Key West. Our Southern letters this morning relate to matters in South Carolina, Alabama, Mississippi, Arkansas, Louisi- ana and Texas. that import regulations: The Dominion of Canada. The new dominion of Canada was duly inaugurated yesterday at Ottawa, and the cere- monial was observed by military, official and public display, at Ottawa, Montreal, Quebec, Halifax, and other points. The affair, how- ever, fell dead on the public mind generally, and there were unmistakable evidences, espe- cially at Halifax, of a widespread discontent at the involuntary confederation forced upon the people of the provinces by the British government and its agents. Montreal was the only place where anything like genuine popular enthusiasm was shown, the citizens of Ottawa, even, evincing but little re- joicing over the event, At Halifax a spirit of discontent was made apparent, and con- siderable excitement prevailed. Flags were hung at balf mast and half the stores closed as if for death, and two of the daily papers ap- peared with their columns in mourning. Several civic societies, especially those of the Scotch and Irish, refased to tarn out in the procession. This is a bad beginning for our neighbors, and foreshadows much future trouble for the tinselled Britons who will be sent out by the English government to rule over them. Lord Monck took the earliest opportunity to bestow the honor of knighthood upon Cartier, the fiery little politician of Lower Canada, and some of the trading politicians, who are always prepared to play the flunky to England, made speeches in which they glorified the new do- minion and affirmed its superiority over the neighboring republic ; but neither barren titles nor paid flunkyism will avail to make the consolidation of the provinces popular. The Canadians and Blue Noses who are already grumbling and dissatisfied will soon learn in what direction to look for a secure, prosperous and progressive country. Superintendent Kennedy and the Fourth. It is certain thatif a man issues a great many orders he is sure at last to issue a good one. It has happened to Superintendent Ken- nedy to issue many orders that have made authority ridiculous; he has now issued a wise and excellent one, directing the police to arrest all persons for violating the law by the ase of firearms on the streets and by discharg- ing certain very dangerous kinds of fireworks, This order will be welcome to the mass of the people. The firework frenzy was good enough in the days of old John Adams, when our cities were very small affairs and the people moderate in all indulgences. Nowadays we carry these frenzies too far, andin our im- mense cities risk too much, Let the shooters stay on their own premiaas, therefore, or co to the rural districts, a The Fate of Maximilian aud the Case of Jet Davin, In the interminable Mexiean correapondence of Mr. Seward there is one little pasarer->t- arms between him anid M, Dronyn de Lhvys, at that time French Minis‘er of Foreign Affairs, which is worth reproducing, M»x'm'lian hid issued his decree of outlawry aga'net the fich!- ing Mexican liberals, numbers of prisoners captured by the imporialists under that decres had been execute’, and still the bloody work continued. In the name of civilization and the cause of humanity Mr. Seward appealed to the French government to interpose and put an end to this savage mote of wor‘are. The facetions French Minister substantially re- sponded:—“Why do you appeal to us to redress these wroncs? Why not call upon the govern- ment of Mexico—that which you recogn'‘ze, the government of Juarez? He is your mon.” The point of this hnmorous reply will be under- stood when it is remembered that jnst then Juarez was the dimmest shadow of a ruler, coored up in El Paso, on the extreme Northern front'er of Mexico, with not an inch of ground he could call bis own, and dep-nding for hia personal eafety on his chances in the last resort of escaping from the French dragoons by run- ning over the river into the United States, But what a commentary upon this grim joke of tho French government do we now r-ad in the terrible ending of Maximilian and his empire ! The moral of this scrap of histo-v, which we commend to the Emveror Napoleon, is this: how narrow is the vision of the keenost sighed diplomat in regard to coming events! We might further purene th's inviting text, but for the more attractive arenment snevested by the peculiar views othe New York Tribune on the fate of Maximilion. The philosopher Greeley, who in the matter of human kindness yielde the generous milk of a Durham cow, rays that he feels more keenly this cruel'y to Max'milian “hecanse of our treatment of Jef- ferson Divis.” We had men among us wi'h whom, “like the cannibals of Africa, the only fruits of victory were the wasted bodies of their enemies.” Horrible thougit! “But the better sense of the people prevailed, and the leader in one of the grentest rebellions ws set free,” says the rejoicing Greeley. Thepeople! Wht had the people to do with it? Nothing. What are the leading facts in this case? Simply these: Jefferson Davis was the chief of the most formiiable rebellion in history. His arm‘es at length were beaten, and, fearful of that “sour apple tree,” he fled, and we headinz for Cuba or Mexico, when a proclamation was issued from President Johnson denouncing him asa con- svirator with others in the assassination of President Lincoln, and offering a reward of one hundred thousand dollars for his capture. He was captured in Georgia by a detachment of Union troopers; he was brought back to Vir- ginia, and locked up asa prisoner in Fortress Monroe. Months have elapsed, with Davis under lock and key, when the idea that he is to be tried 98a murderer is superseded by the general impression that in the course of time, if he lives, he is to be tried as a traitor. But between the new ideas of President Johnson, and the technical quibblings of Chief Justice Chase, and the difficulties sugested by the Attorney General, and the backing and filling of the Judiciary Committee of the House of Representatives, the chief of rebeldom continues to be held as a prisoner for nearly two years, without any trial, or any pros- pect ofa trial as murderer or traitor. At lat, chiefly through the activity in bis behal’ of his principal legal adviser, Mr. Charles O’Conor, of this city, he is brought up before Judze Underwood of the United States District Court, at Richmond, in the character of a rebel. It is then found that by a law of 1862 rebellion is & bailable offence, and Mr O’Conor, beginning with “ milk of human kindness” man, Greeley, between whom and the subjugated John Minor Botts, Gerrit Smith is sandwiched, triumphantly parades his roll of bondsmen to the tune of one hundred thousand dollars, Thus released, through the patient and skilful management of Charles O’Conor, Davis, like a conqaering hero, histens from “the Yankee flag” tothe new Dominion of Canada, that “happy bunting ground,” as peace makers, of Jake Thompson, C. CG. Clay, Bev Tucker, George Sanders, Horace Greeley and Colorado Jewett. These are the leading facts in this case of Jeff Davis, from which it is apparent that O’Conor is the lion of the play and Greeley chief of the donkeys. A hundred thousand dollars is first offered and then paid for the capture of Davis as an assassin, another hundred thousand is expended in holding him as a prisoner, and then he is discharged on the promise of Greeley and others to fork over a bundred thousand in case the accused shall fail to come to time when called for to be tried asarebel. In this financial exhibit the covern- ment is out of pocket two hundred thousand dollars, Does anybody suppose that for a hundred years to come, by the court at Rich- thond, before which he is bound in that other hundred thousand, Davis will be called fort No. What, then, have we to boast of in this business? We can boast that, from President Johnson down to Judge Underwood, all our government officials have acted like a parcel of weakheaded and foolish old grannies, that Grecley has been consistent with his Niagara negotiations, that the government stands dis- graced before the world in the detention and in the discharge of the prisoner, that Davis is not an assassination conspirator nor a traitor, but that he is only a rebel and that rebellion is not treason. Now, wo hold that in the person of the head chief of the late rebellion the people of the United States, while they did not desire the blood of the prisoner, did desire and expect a trial which would define and establish the crime of treason, and the powers of the govern- ment in suppressing rebellion of individuals or States and in punishing the conspirators and in reconstructing the States involved init. Thus, what has been settled by the war, it was ex- pected, would be established as the law. In all this the country has been disappointed; and as the case of Davis stands to-day, he needs only a pardon from President Johnson to be- como Greeley’s candidate for the next Prosi- dency. In Mexico, where they have had a longer ex- perience in revolutions, they deal more de- cisively, right or wrong,with their defeated revolutionary leaders. Maximilian, with the empire No. 2, has been dealt with as was Yturbide, of the empire No, 1. Santa Anna may ing that three or four bania'™e2's have not cured him, he will probably be uw"? pext vietim ofa file of soldiers, if not already pr! Ut of tho way. Juarez may jostify himself om athe plea of sacrificing Maximilian to save his own - ife. As it is, bis noxt turn may be the reopen{9y of bis old cigar store in New Orleans A parallel between the semi-barbarians of Mexies* and the people of the United States does not touch the Mexican in reference to Maximilian’s execution. We might ag well ho!d up the usages of civilized warfare to the white squat- ters of Colorado in behalf of the Indians. States and communities are controlled by the circumstances around them, as we have been in this case of Jeff Davis, and as the Mexicans have been in the case of Maximilian, and as the Colorado white squatters are in their bounties for Indian scalps with the ears on. Such cheap m»gnanimity as that of Greeley in behalf of Jeff Davis will provoke a laugh from the incredulous Mexicans, and it is worth nothing more. Practical Confiecation in New York—Enor- mous Increase of Taxation. We invite the attention of the members of the Constitutional Convention, now in session at Albany, to the reports submitted yesterday by the Comptroller of the city and county of New York to the Board of Supervisors, and which are published in substance in to-day’s Heratp. It will be seen that our taxes for the current year for State, city and county pur- poses, will reach the enormous amount of twenty-five million dollars, or over four dollars on every one hundred dollars of the valuation of the property subject to taxation within the city and county, as fixed by the State Board of Equalization for last year. This does not in- clude our share of the heavy taxation for the support of the national government ; nor docs it embrace the large amount to be assessed upon tre property owners and taxpayers gen- erally for the various Corporation yobs which are from time to tim» pushed through the Common Council. At this rate of speed in the carcer of reckless extravagance and corruption, we ask the Constitutional Convention how long it will be betore we arrive in New York at the point of practical confiscation? The fact is, we have reached a crisis in our State and municipal governments, We bappon to have just now in New York a city Comp- troller who is anx’ous to do his duty and to protect the property owners and the people generally from the harpies who have so long preyed upon them. His efforts to stop the tide of reckless expeniiture, to make the publie property remunerative, and to cut off the official paupers who have been for years fastened upon the city, are praiseworthy, and will no doubt accomplish much good. But we need a thorough and searching reform in the whole system of municipal government—a reform that will reach the root of the evil and prevent the corrupt squandering of the public money in the fature—and for this we must look to the mem- | bers of the Constitutional Convention and to the organic law they will submit to the popular vote in the next November election. It will be seen from the statements of Comp- troller Connolly that the taxation of the cily and county has steadily increased, year after year, until the taxes ‘or 1867 exceed those of 1866 by the large sum of five million dollars. At the same time our debt has been also in- creasing. The Comptroller shows how this heavy drain upon our industrial resources is occasioned, and he recommends that all expen- ditures that are not absolutely necessary, although authorised by the lost rotton Legisla- ture, be suspended until the finances of the county are in @ more bealthfal condition. If his advice should be followed, and if his efforts, in connection with tbe Commissioners of the Sinking Fund, to tarn into cash all the unpro- ductive city property, should meet with suc- cess, the taxpayers may yet be saved froma material portion of the burden laid upon them by a venal Legislature and a thieving Corpora- tion; but the main hope of the people is in the revised consti‘ution of the State, and to that they’look for a thorough and permanent reform in tho city government. Tron-Ciads. The reported salo to Russia of the Miantono- moh and the rejection of the Dunderberg in favor of the French government are, we see, causing some uneasiness. It is feared by timid people that our government will in this way strip itself of all its best iron-clads, and that if we should get into» difficulty with any other nation we should not be in a position to go to war until we had provided substitutes for them. We do not apprehend that anything of this kind will occur. Asa matter of econ- omy it would be very foolish course for the government to pursue ; for if hostilities were suddenly declared against us it would cost double the present price of these iron-clads to replace them within a given time. The objoct of disposing of them we take to be to replace them by vessels of superior constraction. The discoveries and improvements which are daily being made in the form, tho plating and the armament of fron-clads speedily lead to the rejection of the principles previously favored. We have witnessed the costly blunders that have been committed by the English and French governments by too much precipita- tion in the building of their iron-clads. Ours have served our turn, and even now will com- pare favorably with those of any other navy. Still, that is no reason why our government should rest antisfled with them and ignore the improvements that may be suggested. If it be the purpose of the department, in disposing of such vessels as the Miantonomoh, to get others built which will surpass them in seagoing and defensive qualities, then we eannot but ap- prove of it, It will sult us very wellto get other governments to buy our cast-off vessels and to construct improved ones on the pro- ceeds. That would be economy in the true sense of the word, and very smart policy besides. Grant's Nomination. Many inquiring individuals, seeing that Grant's candidacy for President is an accepted idea, wanted to know when he was nominated,: where the convention met and all about it. We would inform the worthy people all over the country that Grant was nominated for the Presidency by # convention that met under ® big apple treo near Appomattox Court House in April, 1865. He was nominated by acclamation, This was not the apple tree on which Greeley once intended that Joff Davis should be hanged. Groeley’s was asour apple be placed in the same category, and, gonsider- | troe; Grant's was & sweet one, a a Cougress and the Currency. We give in another column a leta’r from Nashville on the national banks of that city This letier shows, as the leticrs of our ete spondent have done before, that the banks s2re mismanaged; that they do not moet th? simplest and most vital requirements of the law on which they stand; that they boldly neg- lect, not to say defy, those fundamental points ‘which are supposed to be the safeguards of the pev ple in their relations with these institutions, Undoubtedly this. severely reflects upon the manage, nent of the banks; but it reflects more severely a ‘ill upon the Comptroller of the Cur- rency, who, by the published statoments of the banks thems,"es, is clearly guilty of a grave dereliction of dav,¥ in not keeping the institu- tions within the law. Itishis duty to compel a strict observance of the law in the manago- ment of these institutions, and he cannot depart from that strict line of duty’ without more or less danger to the general Gnay cial interests of the people. Congress should not fail to consider at its coming session the relations of the national banks to the national credit. Within their proper sphere the banks are useful. We have no objections to urge against them as banks, if kept where they belong, and managed as the law requires; but Congress should radi- cally change the law in so far as it makes {hese banks practically part of the Treasury Depart- ment. Congress has the power in the consti- tution to make a national money, but it has no authority to delegate this power as is done by giving these corporations the right to issue notes more or lesg directly related to the public credit, The quasi relations between the national treasury and these so-called national banks should be absolutely abolished, and the banks should stand on their own feet as private insti- tutions, As matters now stand, theso private corporations have the power to issue currency that has a national character, and they receive out of the taxes twenty million dollars per annum for this exercise of a power given strictly to Congress, This is the simple, literal result of the system of issuing notes on a de- posited seeurity on which the government pays interest. It is easily seen what a vast centripe- tal force there is in this system—how it tends to concentrate in a few irresponsible hands the power to oppress the poople at will through the financial machinery that the masses under- stand so little. The power to issue notes should be with- drawn from these banks, and the equivalent amount of currency should be issued by the government itself; then the nation would not pay twenty millions per annum that some poli- ticians and stockjobbers may have concentrated in their hands the power of wielding at will the whole money interest of the country. This done the currency should be left alone. We have touche 1 bottom in financial troubles, and have been at the lowest ebb, and must go steadily forward to improvement. Our dis- turbances have been but little compared to what bas been elsewhere. We are in a condi- tion requiring no interference but to put the currency on its legitimate basis The natural laws of trade will do all the rest, and with the inevitable development of our resources we will grow up to the volume of money afloat, and thus restore in the safe and right way the normal relation between the currency dnd the wealth it represents. Napoleon and His Dynasty. In yesterday’s Heratp we printed a tele- gram to the effect that Prince Napoleon had again taken up his residence in Paris, and that the Elysée which has come {o be considered to have an importance second only to the Tuileries, is being prepared for the reception of his Imperial Highness, This, taken in connec- tion with other events which have recently been brought under our notice, encourages the opinion that Napoleon is becoming increasingly anxious as to the prospects of his dynasty. In bringing the crowned heads and the princes of Europe to Paris to behold and admire the glory of imperial France, he has accomplished one of the objects of his ambition. This, how- ever, has heen but a secondary object. His great leading purpose has been, by undoing the work of Waterloo, and by nullifying the treaties of 1814 and 1815, at once to re-establish imperial France, and to compel the recognition of his house as one of the dynastic families of Europe. In working out this great purpose, it must be admitted, he has been successful beyond what was at one time deemed possible. The work of Waterloo has been pretty well undone. The treaties of 1814 and 1815, if they still have existence, are, it will be gen- erally admitted, no longer of much ac- count. Inthe matter of recognition there is not, so far as we are aware, a single diasenter among the reigning families of Europe, and most of those families, if not all of them, in the persons of their chiefs or princes of the blood, have already accepted the Emperor’s hospitality. But one part of the great plan of Napoleon IIL remains to be accomplished. He bas not yet been formally crowned, and his desire and determination are to be crowned by the hands of the Pope. The coronation over, in the manner indicated, Louis Napoleon will bave rounded off a plan which few men in the history of the world have had the genius or the daring to conceive, and which fewer still have had the good foriune to accomplish. The health of the Prince Imperial is the one draw- back’to all this success, It will not eurprise us if the Pope should come to Paris to see his ailing godson, and if the coronation should close the series of pageants which will cele- brate the visit of his Holiness to the capital of France. The improved relations which evidently now subsist between the Emperor and his cousin are to be taken as indicating on the part of the former a desire to make every provision possible for the future of his dynasty. The Crops. The wneasiness caused by the late excessive rains is being fast dispelled by the accounts which reach us from all parts of the country. In the West and Sonth they have done com- paratively little damage, their violenee being confined to the east of the Alleghanies and mainly to the Atlantic coast. In regard to the cotton crop there is no cause whatever for antiety. On the son islands the effect will be rather beneficial than otherwise. Taking into account the enormous of increase in the quantity of cereals sown, amounting in some States to fity per cent on that of last year, tho worst results that were anticipated from the late rains, supposing them to have been as injurious as was represented, could not have been felt. But, as the facts reach us, we. eee ee see nothing in them to alter the conclusion at which we had previously arrived, that the crops this year will be the most luxuriant, both in regard to quality and quantity, that the country has ever known. Mintag Enterprises—The Causes of Their Failure. It is but a few months since that the m'ning ma,"ket was all activity. Bob Tail, Yellow Jaclat and Centre of Gravity lodes were to make Dormous fortunes for whoever was the owner 0,” ® Single foot. Castles were built heavenwara >y hopeful daughters, who saw themselves dating through the Park be- hind a pair of _ Arabs, the envy of all those whose papas had .2° invested in Golconda. Mothers rejoiced that a‘ length they could ride {nto society upon piles o& * gold or silver, and forthwith commenced to wk opera, study French and practise dress pasao®- Tho bubble burst. Hopefal revoked the ordvr for the painting and baking of a line of snoestors; Proudfoot no longer hunted for bXs coat-of arms, and whole crowds poatponed their Enropean tour and a visit to tite Pa tis Expost- tion. Thus wild investments ha. the, '? natural results, and the Eastorn capitalists: to °k thotr first and best Iozson in the minivg busina From all this legitimate mining enterpy tses will soon reap groat benefiis, while the nurs ous bogus ones that have been foisted upoa the market by sharpers who have takem advantage ‘of the excitement of tho hour will sink out of sight and in a few months be entirely forgotien. Bad management is the usual cause of the failure of most mining corporations, and every company should look to this point with the greatest care. Men of sound practical mining knowledge, engineers by professfon, should fill the positions of respons.bility, and companies should understand that it is cheaper to pay a good manager ten thousand dollars per year than an ordinary one two thousand. In most cases all of our companies have been started with too small a working capital ; and the natural result has been that the first assessment upon the stock being made and ex- pended without any returns to the stock: holders, these naturally, in their ignorance of mining, become disgusted, and refuse to con- tribute fuither to develop their property. There are to-day all through Colorado, Nevada, and in other mining territories, many compa- nies which have carried forward their works with but little eash, and which alone lack a little facther enterprise on the part of the owners to make them a splendid success, No proverb is truer than the old Spanish one—that “it takes a mino to work a mine;” and no great mining enterprise should induce an in- vestment that has not a solid working capital ; for, while the returns are frequently enormous, the contingencies also frequently demand enormous‘outlays. Numerous instances may be cited where some of the most brilliant enterprises have lagged along for years for lack of a proper organ zation at the start. Many of the companies whose failures have been the most glaring have commenced their mining operations backwards. With veins of ore that were apparently rich, or at least have yielded a few picked specimens with which to furnish such promising assays that a company might be formed, they have raised perhaps two hundred thousand dollara, Of this amount ninety per cent has been expended in the erection of mills, works of different kinds, and machinery at an enormous cost to place in them. With the conclusion of all this, and the photographic pictures of the works above ground, to tickle the eyes of the highly de- lighted stockholders, the pittance remaining of the working capital is invested in the opening of the vein, which, is found generally to. doe- mand an outlay mach above the cash om hand, or else to be so poor and difficult to develop that it is not worth the working. The build- ings, located gonerally where they can be of no use for any purpose, thon complete the failure of the enterprise. Again too much money has been expended in undeveloped Property, and millions of dollars have been lost in expensive prospecting, while had the expenditures been made in the development of the veins of well known mines, there could have been no failure of satisfactory returns. This is well proven in the history of the great mining enterprises of Mexico, where money is always expended by preference in the old mines which are known to have yielded largely, and which have, in most oases, abundantly demonstrated the truth of the theory. The bad management of most compantes should not dampen the development of our wondertul mining resources; for in them lie much of our national bone and sinew. We look upon the loss of some $250,000,000 in mining, within the pasttwo years, as a very natural result of the lack of education which we needed in that direction. It will bring ita benefits; great organizations will carry on their works upon a firm and healthful basis, con- fidence will then be restored in legitimate en- terprises, people will no longer invest in wild- cat schemes, and mining will take its place by the side of other great interests, a3 one of the safest, as it is, when under good management; one of the most profitable of investments. Another Traitor Discovered. g The strong-minded women have made the discovery that there is another traitor just ae great and just as deserving of punishment ne Jeff Davis. That traitor is Horace Greeley. After twenty-five years’ advocacy of female suffrage he has most treacherously abandoned the cause and come out in favor of giving the franchise to the niggers, to the exclusion of the female vote, We call on Mrs. Elizabeth Cady Stanton, Mrs. Susan B. Anthony, Mrs. Lucretia Mott, Mrs. Ernestine L. Rose, Miss Anns Dick- ingon and the rest of the strong-minded female confraternity, to have a court summoned that will do its business better than the Richmond one, and have this traitor to female rights impeached. We would advise them to employ that sound lawyer and brilliant advocate Charles O’Conor to conduct their ease, but on the express condition that no straw bail be accepted. Furthermore, we would recommend these strong-minded, highly patriotic and uncompromising ladies to immediately call convention to inquire how it is that when niggers are conceded the right to vote they ahould be kept out in the cold. A WITNESS FOR SURRATT EW ROUTE TO WASHINGTON. Mowrneat, Jaly 1, 1867. It ta atated that a person leaves this city to give evi. ence in Washington, to the effect that Surratt bought © ‘fs enife from him on the morning following the assagale Ration of Presideat Lincola,