The New York Herald Newspaper, February 8, 1868, Page 4

4 NWEW YORK HERALD. BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. All business or news letters and telegraphic despatches must be addressed New York HERALD. Letters and packages should be properly sealed. Rejected communications will not be re- turned. JOB PRINTING of every description, alto Stereotyping and Kingraving, neatly and prompily executed at the lowest AMUSEMENTS THIS EVENING. NIBLO'S GARDEN, Broadway.—Tas Ware Fawn, Matinee at 1. WALLACK'S THEATRE, Broadway and Ith strect. — Ours. BROADWAY THEATRE, Broadway.—Lirttx Neu. amp tux Marcuionrss, Matinee at 13. BOWERY THEATRE, Bowery.—Nicx or tus Woovs— Pizagno. NEW YORK THEATRE, ovposite New York Hotel.— ‘Tux Pickwick Parers. Matinee. PIKE'S OPERA HOUSE.—Matinee at 1—Lucreria jORGLA. FRENCH THEATRE.—Une Loat p'Orana—Lus Amoors pe Cugoratie. OLYMPIC THEATRE, Bi — Cricut. Matinee at 134. ial ane BANVARD’S OPERA HOUSE AND ‘way and 0th street.—Lucazria Borgia, MUSEUM, Broad- fo. NEW YORK CIRCUS, Fourteenth street, ~ Equustniaxisu, 20, Nations ac tig eth Ommnasrion, THEATRE COMIQUE, Nation Tnourr. Matinee 4 Broadway. —Has Sp roniway.—Hanton Conse KELLY & LEON’S MINSTRELS, 730 Broadway.—Sonas, Dances, Eocentaicrties, BoRLEsgues, &¢. Matinee, SAN FRANCISCO MINSTRELS, 68 Broadway.—Eeato- PLAN ENTERTAINMENTS, SINGING, DANCING AND BURLESQUES, TONY PASTOR'S OPERA HOUSE. 201 Bowery. Yovatisa, NEKO Minsruuisy, £0. Mailuee a Sige oo BUTLER'S AMERICAN THEATRE, 472 Broad - Baturr, Farce, Pantoutur, dc, Matinee at 230 STEINWAY HALL.—Mr. Grorae V. J ings. Matinee at $~Guano Comcumr, ANDENHOFF's REap- LYRIC HALL, No, 725 Sixth avenue.—Mrs, VaNnpEx- worr’s READINGS, IRVING HALL. Irving Place.—¥, Gurrrsnune AsYLos. Mert BUNYAN HALL, Broadway and Fifteenth astreet.—Tux Picrix. Matinee at 2, SEVENTH REGIMENT ARMORY, Tompkins Market.— Granp Bany Concent, MRS, F. B. CONWAY'S PARK TH E - Mane Stcart—Esmunarpa. Sic acca ca BROOKLYN OPERA HOUSE.—Kary O'Saiet—Roveu LAMOND. HOOLEY'S OPERA HOUSE, Brooklya,— Minsrmatay, BALLADs axp BowLesaure aa Now York, Saturday, February 8. 1868. EUROPE. he news report by tho Atlantic cable is dated yester- day evening, February 7. ‘The resignation of Unvad States Minister Adams was announced in London, A.gotiations aro in progress for the arrangement of a commercial treaty between the United States and North Germany, Admiral Farragut was in Florence, ‘The news from the British army in Abyssinia is un- favorable. No safe movement can be made during the present season. Consols, 9394 2 933; in London. Five-twentioa, 715; a 71% in London and 755; in Frankfort, Rentes declined in Paris. Cotton firm, with an active market, middling uplands closing at 8d. Breadstuffs improved. Provisions and produce without marked change, CONGRESS. In tho Senate yesterday the substitute sported by the Retreuclhimont Commutteo for an act in addition to tho Tenure of Office law was taken up and after consid- erable dovate passed by 32 yous to 9 nays, Mr. Sherman gave notice that on Thursday he would move to call up the Funding bill, but would not press hasty action upon it, A resolation to print ten thousand copies of the reports on the removal of Secretary Stanton occasioned considerable debate and was adopted, The Senate then adjouraed till Monday, In the House a Dill restoring to market lands along the line of the Pacific Railroad and its vouchers was passed. A resolution for anew dtawing of seats was adopted. The Legislative, Executive and Judicial Ap- propriation bill was considored in Committee of tho Whole, and the House soon after adjourned, To-day’s seasion will be dovoted to general debate, THE LEGISLATUSE. im the Senate yesterday several bills relative te cor- perations were reported favorably or noticed. Bilis authorizing the Erie Rai Company to lay tracks through certain streets of New York and incorporating the New York, Brooklyn and New Jersey Pneumatic Transit Company, the Crosstown Railroad Company and the People s Metropolitan and Suburban Railway Company were introduced. Bills authorizing the ro- cording of wills by annexing a certificate of proot and to repeal the act relative to the taxing of tho sales of brokers were passed, Tne resolution for a joint meet- ing of the two houses on Wednesday to fill the Police Commissionership was adopted. , In the Assembly bilis amending the acts relative to criminal prosecutions and to incorporate the New York Drama Union were reported favorably. Bills to pro- vide for safety of life on New York city railroads; to incorporate the Metropolitan and Suburban Railway Company; to enable the Supervisors of New York to raise money by tax, and to amend the act relative to frauds in assossinenis for local improvements ia New York wero introduced. MISCELLANEOUS. Our special telegrams from Mexico, via the Gulf cable, contain important mows of a late date, Pronune ciamientos against the government wore multiplying, and General Corona had fallen under suspicion. A revolution had broken out in Sinatox, Senor Morales, who had been kidnapped, was shot by nis captors om his favlure to obtain the required ransom. A naval en- gagoment is reported at Sisal, The rebels were defeated fn Yucatan, and General Alatorre had entered the capi- tal with the national troops. ‘ihe figlt lasted two days, ‘Tho statement of the public debt for February shows the total vo be $2,662,326,254, with » total coin and currency in the Treasury of $194,200,603, 1a corn~ parison with the statement of last month, this shows an Ancrease in the debt of $19,189,723. ‘ Jadge Sbarkey yesterday in the Supreme Court of the Toited States at Washington opposed tue motion | -catofore made to disinias the McArdle case for want of j abetion, Senator Trumbull deliverea a long argu- ment on behalf of the government in favor of the motion, The Court reserved its decision. General Meade has extended the time for the election tn Alabama until Saturday, whem the polls will close, Atpresout there is every probability of a defeat of the constitution, The negroes, who vote, are being dis- charged in large numbers by their employers. From Guatemala it m reported by our special tele- ¢.. over the Gulf cable (hat restrictions are being placed upon passengers to amd from Mexico, The cam- paign against the Yaqal Indians bad proven suc ‘Tho British Minister, Mr, Thornton, for sented his credentials to the Prosident yi his reply to the address of the Minister the President alluded very carefully to tho political relations between the two countries, Charles Dickens had an intorview with the President yosterday. A masa moeting in favor of the Rxciso law was held @ the Brooklyn Academy of Music iast might, Speeches were delivered by Honry Ward Bosoher, Theodore Cuvier and Senator O'Donnel! adventure. upon him has commenced in earnest. Thus by the same authority which recognized in Gene- ral Grant, a short time ago, @ great soldier and a sagacious and patriotic statesman, he is now presented as a “narrow, sluggish intel- lect, whose dearth of ideas” has been called prudence ; as an army leader “who sacrificed nearly twice as many menas the enemy had in the field,” “accomplishing everything by numbers, and nothing by skill;” as a man of “no dignity of bearing,” “dull in conversa- tion,” “no geniality and popular warmth of manner ;” “a cold, narrow, commonplace, un- attractive man,” “remarkable for nothing but a stolid force of will.” are told that “he has tarnished his personal honor by unmanly duplicity ;” that he bas never been seen inside of a church, and that nobody remembers anything of his kindness to sick and wounded soldiers, &c., &c., and that before midsummer he will be a badly damaged candidate. date, General Harrison and General Taylor, and if followed up against Grant will only operate to bring Fort Donelson, Shiloh, Vicksburg, Chattanooga and the grand campaign from the Wilderness to Appomattox Court House into the boldest relief in favor of General Grant. Bat, “to return to our mutton”—this GrantJohnson correspondence. It has been referred in the House of Representatives to “Old Thad Stevens” and his Reconstruction Committee, and the question is, What will they do with it? They have appointed a sub-com- mittee ot investigation, whose special duty, it is said, is to find out all the facts and circumstances connected with this Johnson- Stanton imbroglio not yet brought to light. NEW YORK HERALD SATURDAY, FEBRUARY 8, 1868. An accident occurred on Wednesday night to the stock express train on the Erie Railway near Hale's Eddy, Delaware divieion, by which the train was upset and set on fire, burning to death a boy named Reardon, of Brooklyn, and soverely burning and otherwise injaring Thomas Fitssibbons, of Binghamton. 4 ramor prevails in Charieston that General Canby 1s to be relieved @! his command by Goneral Sickles, and ‘Will 1m ture relieve Genecal Meade, In the State Constitutional Coavention yesterday the day was consumed in debate on the article in relation to the salt springs, The committee was discharged from farther consideration of the subject, and it was decided to take @ final vote on the subject on Tuesday. In the National Commercial Convention at Boston yesterday the commitices on the: organisation of National Board of Trade, on weights and measures and nm manufacturing interests made reports which were adopted, Resolutions wore passed favoring an early though gradual resumption of specie payments. Tn the Florida Convention, by a queer arrangement of circumstances, the minority have had the ascendancy and ruled the Convention throughout. ‘The North Carolina Convention yesterday voted down ® resolution declaring nogroes and persons unable to read or write ineligible to the office of Governor, The store of Martin P, White, in Belfast, Me., was burned yesterday morning, and a woman named Jipson, ‘aged eighty years, porished in the flames, The Kansas Senate has passed an act authorizing any Person otherwise qualified to practise law in the courts with@ut regard to sex or color. Portions of a negro woman’s body were found in seve- ral cotton bales opened in Memphis on Thursday. The cotton had been stored tor two years, and the body was shrivelled up likea mummy. Street Commissioner McLean has sent a communica- tion to the Common Council urging the necessity of naming an oarly day for the ‘opening of Church streot from Fulton to Morris, He suggests that the work bo gin on the 1st of May, Recorder Hackett yesterday fined a conductor and driver of a Bleecker street car $250 each for cruelty to animals in overloading their car. The General Transatlantic Company's steamer Ville de Paris, Captain Lamont, will leave pier 50 North river at 2P. M. to-day. The mails for France will close at the Post Office at 12 M, - The stock market wag strong yesterday. Govern- mont securities wore firm. Gold was buoyant and closed at 142%. The Grant-Johnson Correspendence — The House Investigation. The Grant-Johnson correspondence seems to have thrown the politicians on both sides on their beam ends. The radical State Conven- tion at Syracuse nominate by acclamation Grant and Fenton as the Now York ticket for Chicago ; but the radical organs have no hal- lelujahs to sing over this harmonious achieve- ment, while the “arf-and-arf” republican pa- pers look upon the proceeding with suspicion or denounce it aa a snare. Grantis apparently not strong enough to compose the quarrels of the New York Guelphs and Ghibellines; for in going over, “body and breeches,” as they say, to the radicals, he has soured the Seward- Weed-Raymond clique, and has so perplexed the radical Fenton faction that. they are dumb—dumb a3 oysters, The imperturbable silence of Grant is at last broken, and, in bringing the oracle to speak, his alleged in- firmity of reticence has fallen upon his late accusers, and the wonder now is what they will say wilh the return to themselves of the faculty of speech. smoke and fog there may be a deep design for In all this envoloping the slaughter of Grant in season for a solemn wake at the Chicago Convention. We cannot tell till this fog rises and is cleared away. On the opposition side, a copperhead journal which assumes. to speak for the universal democracy assumes also that this Grant-Jobn- son correspondence and the Syracuse Republi- can Convention settle the question and make Grant the republican candidate beyond a per- Accordingly’ the democratic war And yet again we This method of damaging a soldier candi- however, elected General Jackson, After searching through the executive depart- ments, including @ cross-examination of all the members of the Cabinet, this sub-committee will report their discoveries to the Committee on Reconstruction, from which “Old Thad” will make a report to the House with such recommendations as the facts and testimony may seem to require. By some of the Wasb- ington newsmongers it is supposed that the sub-committee will report to “Old Thad” this evening, and that he will make a report to the House on Monday, and that he may conclude it with a trenchant recommendation for the impeachment of Andrew Johnson as guilty of ‘high crimes and misdemeanors,” calling for the application of the constitutional remedy provided for all such cases of official infidelity. In this view this Grant-Johnson correspond- ence may culminate in events and movements of the highest and gravest importance to the country. We may be gure that if a second at- tempt is made for the impeachment and re- tooval of President Johnson, it will be from a distinct understanding that this thing, if pro- posed again, can and will be done. In each house of Congress the radicals have a two- thirds majority. They have only, therefore, to ‘nite upon this last resort of impoachment in crder to carry it through. They are in a bad condition for the Presidential fight while Andrew Jolinson blocks their line of march, His removal will clear away a host of obstrue- tions. The temptation, thon—nay, the urgent neczssity—for his removal, is 60 great that a plausible accusation resting upon a basis of facts and supporting testimony will suffice. Resistance to the laws, which he is sworn to take care to see are faithfully oxeeuted, may be worked up into an indictment on the facts embraced in this GrantJohnson correspond - ence, or lying behind it, We are, therefore, awaiting tho issue of the pending investigation before the Reconstruction Committee with no ordinary degree of interest, in view of the radical game which will be developed in “Old Thad Stevens’” report, In the event of an impeachment resolution we may look for Johnson's removal, and then, the coast being clear for the radical reconstruc- tion programme, and Johnson (disqualified, by removal, for any office of trust thereafter) being entirely out of the way, we may look for the dropping of Grant and the substitution of Chase as the republican Presidential candi- date. On the other hand, if the committee find impeachment impracticable they will probably report, as their only alternative, a resolution extolling General Grant to the skies, in order to send him to Chicago backed up with the potential voice of the republican party in Con- gress. The people of Nova Scotia cannot make up their minds to accept a second hand mon- archy on any terms, and it seems that their objections to it are taking a very positive form and are making themselves heard in the focal Legislature. They propose to forward an address to the Queen declaring that “they do not desire to be in any manner confederated with Canada, and praying her Majesty to revoke her proclamation and cause the British North American act of confederation to bo repealed, as far as regards the province of Nova Scotia.” This is clear enough, and is but natural. Opposition to the confederated Dominion, and of the most positive character, is @ necessary result of the facts involved in the existence of that queer quast monarchy. The countries of British North America have held an anomalous political position ever since the days when they refused te enter into our Union as sister States. They have seen their near neighbors on this side of the border leave them far behind in a careor of grand material progress—seen the American people grow in wealth, intelligence and strength, while they remained stationary. This contrast in situation has caused the growth of the party that had for its ultimate idea the bringing of those provinces into this Union—the more liberal Canadians, all the old French Canadians, all the Irish element of the mixed life of the provinces. But this party never yet. grow strong enough to put aside the cause that originally kept the provinces separate from us and keeps them separate still. This was the one idea of loyalty to the British throne. That was the power that successfully opposed the tendency toward the States, and now the imperial government steps in and does what it may to destroy the power of that idea of loyalty. It loosens the hold that kept the provinces from coming over. The loyalty felt toward the British throne cannot be trans- ferred to a delegated Power set up in the Dominion, and the next idea, therefore, is the United States and material progress. This is felt throughout the Dominion, and now, as we see, very actively in Nova Scotia, perhaps because the people there do their own think- ing more than in some other of the provinces. Nova Scotia will hold by the old loyalty as she protests; but if that must be given up she will have no bogus:throne, but must gravitate toward the United States. In this she points the real political future of the’ Dominion. , American Artists in Italian Opera. The principal difficulty ‘ with Italian opera in this country seems to be to get a complete and thoroughly effitient company. Ifa man- ager has a star prima donna or tenor he is sure to be weak in the contralto, basso or chorus; and if the Hatter is satisfactory, we are afflicted with broken down voices in the leading réles. It is impossible to remedy this difficulty by bringing all the artists of a com- pany from Europe; fora manager might as well attempt the responsibility of the national debt as to fill up.a company on the other side of the Atlantic with the proper materials and then bring them: over here for an entire season. Why not, then, mak® use of the splendid mate- rials for Italian opera that may be found in this city? We have as fine artists here as they can produce in Europe, but their claims aro ignored for every foreign adventurer that comes to our shores. Adelina and Carlotta Patti and Kellogg have thoroughly convinced opera- goers in Europe that we can surpass the Old World in singers as well as iron-clads, sewing machines, pianos and big guns. The former of the Pattis is empress of Les Italiens, and Bagier as much as Eugénie reigns over France and Napoleon, and Ullmann has found her sis- ter to be irresistible in the concert room. Miss (we beg pardon, Mademoiselle) Kel- logg made s decided hit in London; and although the burning of Her Majesty’s theatro was a serious drawback to her at the very time she took London by storm, yet Gye or Mapleson (when he is reconstructed) will have her before the public ere the season is over. ‘Then thore is Jenny Van Zandt (Signora Van- zini) at La Scala, Milan, and Miss Harris in tho French capital, with many other lesser lights illuminating the European stage with the efful- gence of true American genius, And yet the supply is by no means exhausted. We have plenty of the same, and even better, materials left. Who can doubt it that attend? some of the private soirées given up town every week and listens to some soprano or contralto whose voice if heard in public would throw all Italian importations into the shade? We have heard better singing in private circles in this city than the operatic stage can boast of; and yet managers will send to Europe for what is too often the refuse of the opera houses there. At a concert given by Signor Albites up town the other night two of his lady pupils sang, and their beautiful, fresh young voices, thor- oughly trained in all that appertains to their art, created a marked sensation in the select and critical circle of listeners, This is but a single instance among hundreds that might be quoted. In our leading churches may be heard fine voices of that peculiarly clear, pearly, birdlike tone which characterizes American voices that have been properly taught and developed. Occasionally some rich, organ- like soprano or contralto is hoard in the choir, and the tones of that voice haunt oach of the congregation long after the church is exchanged for the baunts of business, If # manager, then, wishes to establish Italian opera in New York on 8 permanent basis—and it is by no means impossible—let him not entirely depend upon Europe for his company, but fill it up with native talent, European impresarii adopt this plan to a great extent, otherwise they would not be able to keep up with the demands of the public in regard to Italian opera. There isa mine of undiscovered and undeveloped talent in this city alone, and rich veins in the pro- vinces. So then, Messrs, Impresarii, set to work and purchase operatic claims in America instead of Europe, and you will come across many a valuable nugget in the shape of a soprano, alto, tenor or bass. The conserva- tories of musio will then be crowded with Young aspirants for the opera and the impresario will be the great man about town and may be run for Congress. This is the proper way to reconstruct Italian opera and heal up its numerous bruises. It needs a careful physician to look after it. Eastern Europe~A Change in Russian Policy. ‘In the Herarp of yesterday we printed cable despatch which seems to indicate a change in the policy of Russia. The Czar Alexander, acting on the advice of Prussia, joins the other European Powers in a protest against the extensive war preparations now going on in Servia. Servia, it will be remem- bered, was some months ago relieved of the presence of the Turkish garrison which was wont to be stationed in the fortress of Bel- grade; she was even permitted to demolish the fortress. Since that time the little princi- pality has been arming itself to the teeth. Vast sums of money have been spent in secur- ing the best arms which the European market can supply. Russian officers were known to be busy organizing the army and strengthen- ing the fortresses, It has, therefore, been the opinion of all who have taken the trouble to investigate.the state of affairs in the principal- ity that Servia was in Russian pay. This much st least is undeniable—that Russia was neither ignorant mor disapproving. The pre- sumption up to the present has been that a rising in Servia or Bulgaria, or both, would bring Russia Into tle’ field as their protector ; nor has it been deemed improbable that Ser- via might become the centre of a new Christian kingdom. Suddenly all this is changed. At a time when it was supposed by many that o crisis was imminent, and‘ that the disruption of the Turkish empire was: inevitable, everything assumes @ new aspect, snd Russia, instead of inciting.the Servians to revolt, rebukes them for their folly. The explanation of this change of policy on the part of Russia is to be found in the fact that the view slie‘took of the Eastern question found mo sympathy in Europe. For a time it was supposed that Prussia was at one with her, and that in the event of war a Prus- sian alliance might safely be counted upon. Prussia and France, however, are now on good terms, and, it is believed, are perfecily agreed as to the mode of settling the Italian question. Prussia, in fact, has been drawn into sympathy with the Western Powers. Russia, therefore, finds herself alone, and, strong as she is, deems it wiser to change her tactics than to confront Furope in arms. Let us now hope that these eternal war rumors are ended, that Turkey henceforth is to be allowed to doctor herself, and that Victor Emanuel and the: Pope have made up their minds to tolerate each other’s presence. Napoleon hss accepted the Sultan’s invitation to visit Constantinople next summer. For the presont, therefore, in spite of Marshal Niél and the Army bill, the war clouds are less threatening. Progress of Congressional Reconotruction South. The: Congressional policy of reconstruction South: seems to be in a queer way just at present. Alabama has been voting on the new constitution for several days past, and, taking the votes polled thus far as a basis of calculation, it is not unlikely the measure will be defeated by lacking some twenty or twenty- five thousand ballots of the necessary number to ineure ratification. In some districts the whites refrained from voting altogether, except where: white radicals were nominated for office. There the candidates unanimously voted for themselves, to the number of sixteen in one instance. Unless General Meade extends still further the time for voting the Alabama constitution may be said: to have gone by the board, and it is a question whether an exten- sion will much enhance: its prospects of suc- cess ultimately. Congress, however, may come in and help the Alabama radicals out of their slough. The Florida Convention has framed a new constitution in seeret session, without quorum of members. It is literally a “dark lantern” affair, with lantern-jawed Northern radicals as the wire workers—a miserable office scramble from: beginning to end. The Arkansas Convention has made a virtue of necessity and repudiated amalgamation, the blacks contending that the time had not yet arrived when they were willing to consent to mingle their blood with that of the poor whites. The South Carolina conventionists are in a joytul mood, having had their board bills paid and their pocketbooks lined afresh. The black members are very gay and Pompeyish. The conventions in Virginia, North Carolina, Georgia and Louisiana are advancing in ensy stages undor the impetus given by the Infusion offunds. They all appear to be hard at work revolutionizing the old order of things and establishing the framework of a government in which the emancipated negro will be the corner stone and the radical white the key- stone. The edifice, when completed, will be open for pablic inspection by the free white voters of the North. Orestxe or THR Japan Ports.—The infor- mation just .received from our Minister, Mr. Van Valkenburgh, resident in Japan, published in the Heratp yesterday, that the government of that country has consented to open to foreign trade the city of Jeddo, the town of Neegata and the harborof Ebisuminato, on the island of Sodo, is most important. It shows that the prospects of extending our trade in the East are progressing every day ; that what- ever political changes may take place in Japan—whether the Mikado reigns or resigns— the party of progress is in the ascendant, and that the exclusivenoss which formerly charac- terized the policy of the Japanese is gradually yielding to the influences of civilization, a great portion of which is due to the United States, to our intelligent system of representation in the East, and tho evidences of our own advance- ment which the Japanese delegations were enabled to observe here on the occasion of their visite. No doubt our mercantile commu- nity will take immediate advantage of these recent eoncessions and get ahead of other out- aide nations in using the ports just thrown open. . End of the Yucatan Rebellion. Our special Ouba cable telegrams this morn- ing convey the important news that the rebel- lion in Yucatan, gotten up under the auspices of Santa Anna, had been broken by the national forees under General Alatorre. The rebel forces attempted to resist his advance on Mérida at a place called Maxcanti, but were de- feated, their leader killed, and the rebel Gov- ernor forced to hastily quit the capital and seek refuge in the interior with the remnant of the rebel troops ata town called Peto. General Alatorre was to enter Mérida on Monday last and reinstate Governor Cepeda. Before their retreat the rebels had secured considerable money through forced loans, and a brig was seized to carry away the pirates and their booty to Cuba or some point on the peninsula where the refugees of the interior could be joined. The firmness and decision of President Juarez, as well as the prompt support of Con- gress, and the ability and zeal of Generals Diaz and Alatorro in supprossing this Yucatan revolt reflect credit on the cause of republi- canism in Mexico. The Insurance System. The old maxim, “Whom the gods wish to destroy they first make mad,” seems in the course of realization by the weakness at pres- ent displayed in the management of the sys- tem of insurance. And this is especially true with reference to fire underwriting in New York. The law has thrown, as far as it is pos- sible to control the maiter, safeguards about the business for the protection of stockholders as well as of the insured ; but reckless expen- ditures and improvident management threaten, with the first train of connected disaster, to seriously impair the capitals of many of the companies which now boast solvency, and compel them incontinently to wind up their affairs, Among others of the more prominent weak- nesses is the lack of moral courage displayed by the companies in retusing to pass their dividends when prudence demands it. Stock- holders are clamorous for a return upon their investments. Competition, creating the spirit of pride to appear as well as others, induces the companies to gratify their wish, and in this way insurance companies frequently obtain the credit of entire solvency upor the reputa- tion of having declared a dividend, while in truth am inherent weakness exists: which must sooner or later develop in their destruction. It is, indeed, the old story of the struggle to keep up appearances, and partakes too much of the natare of improvidence to: justify its practice. The agency management is.also another of the weaknesses prominent, in many instances, in the insurance system. Too much latitude is given to agents residing at remote places, and by far too much reliability is placed in the con- duct of the business entrusted to their care. They virtually control the companies’ funds without. the proper degree of restraint. They write recklessly and frequently at inadequate rates of premium, from which losses occur that might have been provided against by more cautious management, This is serious and growing evil, encouraged by rivalry and en- dangering the lives of those companies which ] permit its indulgence. But underlying all this—and perbaps we may regard it as the root of the evils of which we complain—is the wasteful expenditure of the moneys derived from the insurance business in the enormous expenses employed in the machinery of its. workings. From president down to office boy the idea of economy rarely exhibits itself. The genius of display’seems to be the prompting spirit, and extravagance and waste the natural consequence. This crops out in gorgeously furnished offices, profuse liberality in costly entertainments, and tho | thousand and one minor extravagances that aight be properly dispensed with ; and when, finally, as has. been the case on more than one occasion, officers are tempted into a per- sonal use of the funds under their control, through cashiers whose tenure of position de- pends upon their favor, the result is only to be measured by the possibility of detection and Xposure. The only: remedy we can see that is likely to check. the downward tendency of the insurance system, under the present weakness so prominently displayed in its management, is a vigorous determination for retrenchment and reform. This should be exercised by boards.of directors, who should no longer trust to the infallibility of a grand array of figures as returned to the department at Albany, but inspect and closely examine for themselves the books of the companies in which they are inter~ ested, insisthg upon a prompt retrenchment of expenditure, andiin other respects a whole- some reform. ‘Tux Suerman and Hunperson Frvanctat. Buts.—The financial bills of Senators Sherman and Henderson ave been reported favorably upon by the Finance Committee of the Senate, and are now before the Senate waiting ta be called up as sa0n as the debate on the Recon- struction bill ahall be closed. These bills have been modified since they were originally intro- duced, but there are still very objectionable features in them. We will say, however, that this is not the time to legislate upon such an iraportans matter. The political situa- tion and affairs of the country, with the very exciting Presidential contest now opening, will occupy the attention of Congress and the pub- lic to the exclusion of almost everything elas, We can get along very well with our financial affairs, if let alone, till after the Presidential election, aad nothing should be done with them in the meantime. They cannot have proper consideration before. After the election and the political excitement are over there will be ample time for due consideration of the weighty Questions pertaining to the national financos. YAGHTING. At the annual meeting of the Now York Yacht Club, hold on Thursday, February 0, the following officers Were unanimously re-elected :— . ommodore—Hon, Henry G. Stebbins, Phantom. Fioe eocresanee | G, Ber Jr., Dauntions, Rear Commodore=Lioyd Ph idgoon, Seeretary—Hamilton Morton, Treasurr—Robert 8. Hone. Mensurer—aAlfrod W. Cr Committee—-ieorge L, Schuylor, Fletcher Wostray, Robert @, Remsen, THE STATE CAPITAL. SPECIAL CORRESPONDENCE OF THE HERALO. A Third Tax Levy—Pho Christopher Street Crosstewn Bill Again Introduced—Pro- tection Against Rum Over Accidents en the City Railways of New York. Avzany, Feb, 7, 1868. Both houses adjowrned early to-day, probably from exhauston after the labors of the canvass on Police Commissioner, The Tammanyites are proud and jubi- lant, Their victory was ® most signal one, and ts far more flattering than that of the Speakership, for whiie in the latter case they were able to make combinations on the strength of committee places, in the former they had to rely on pure skill and strategy. The election by joint batiot takes place next Wednesday, One of the republican candidates for the Commis. sionership is John Oakey, of Kings county, # member of the iast Legislature. ‘The two tax levy bills for the city and county of New York are, as you have been informed, now before the Legislature, There is a third tax levy, however, in the vicinity of the City Hail at the present time, Thore are evidently some /niee little plums in the first two levies, for this third levy is imposed to put them through the Legislature, Tho third levy is a tax of-one month’s salary, which is now in Process of collection, from all the office holders, clerks and subordinates in the departments in or near the City Hail, for the purpose of raising a passage of the bill, The lower House is right with its democratic majority. may gtve trouble, especially as the Sweeny-Tweed directory there have been quarrelling among them- solves and thereby render it difficult to make headway against their political opponents. The imposition of one tax to secure the imposition of another fs a curious com- phieation. lobby fund for the ait The Senate. “Vheels vithin vheels, air,” as Mr, Samuel Weller remarked witn reference to the birdcage ia the Fleet prison, The famous Crosstown Raiiroad soheme, which was vetoed last winter by the Governor and failed on & second passage because of the adjournment of the Lexislature within ten days thoreafter, was insinuated, I will not say introduced, into the Sesate this morning by Mr, Creamer, not revive any of the odium which, reasonably or ua- reasonably, attached to it last year. This odium origin- ated not go much im objectionable fe in the utter lack of good faith om the part of the lobby- ists to make good their ‘The title was changed so that it might of tho bill as Promises to the “ring.” Nine-tenths of the members are at this hour unaware of its presence again, stealing in as it dié under the title, ‘An act-to authorize the transportation of passengers in the city of New York by means of street railways to be constructed through certain streets and avenues therein.” Such cowardice will not win for it friends, ‘The list of corporators is about as extensive as “Trow’s Directory.” changes from the bill of last year, town route, through Duane'and Chambors street, is ea- tirely abandoned. Connection is made between Christo- pher and Tenth street ferries by way of Twoifth and ‘Thirteenth streets, and between the foot of West Twen- ty-third and Thirty-fourth street ferry by way of Thirtl- eth and Thirty-second streets, The good feature of a eystem of transfers with intersoct ing roads is retained. There are some important The lower oross- ‘Mr, Creamer inthe Senate and Mr, Kiernan in the House simultaneously introduced a bill to incorporate the New York Metropolitan and Suburban Underground Railroad Company, whose route is the old one up Broadway and Eighth avenue, with a branch at Twenty- third street extending up Madison avenue. Mr, Creamer also revived the bill for a pneumatic dispatch connecting New York, Brooklyn and Jotsey City. ‘The Governor will without delay sign the bill enabling liquor dealers to take out licenses for three months, or pending the time during which it ia expected a chaago will be made in tho provisions of the law as applicable to the Metropolitan district. Mr. Frear, from the Committeo on Cities, reported favorably the bill amending the Lion law so as to oxtend its provisions to every laborer, workman, merchant, dealer or contractor who may advance tools or ma- torials to the construction of buildings. Mr, Irving bas introduced the following very merito- rious bill, It is entitled an act to secure the sarety of lite on city railways in New York:— Section 1, All the city railroads in. the city of New York shail, from and after the passing of this act, be compelied to place in each car drawn by. horses on any railroad in said city an improved patented safety guard, to be placed upon the wheels of said cars 80 ag to pro- vent the wheels of said cars from running over the body of any person or persons. Src. 2. Every railroad corporation in said city, from and afver the passage of this act, who shall not have upon each of tneir cars such safety guards shall be deemed guilty of carelessness and ay eye and shall be liable for all damages which may be sustaiped by any person or persons by reason of such carelessness and negligence, and shall eubject the corporation owning the railroad to’a tine not exceeding $50, in the discretion of the court baving cognizance of the foreach car not provided with said safety guards, which penalty the Society for the Reformation of Juvenile Delinquents im said.city of New York are hereby authorized to prose~ cute, sue for and recover for the use of tho aid society in the name of the people of the State of New York.in any of the courts of said city. EW YORK LEGISLATURE. SENATE. Atnayy, Fob, 7, 1668. RILIS REPORTED VAVORABLT, Toextond the charter of the Greenport and. Shelter Island Ferry Company; amending the charter of the Walkill Valley Railroad. Company; amonding the act authorizing towns to subscribe to the capital stock of the Southern Central Raiiroad. BILL NOTICED, By Mr. Crramer—To ii the New York and. Brooklym Passenger and Baxgage (ompany. BILLA, INTRODUCED, By Mr. Cuaruan—To autporize the Erie Railway Com- pany to Jay tracks through certain streets in Now York ; also to incorporate the Binghamton and Fort Dickinson May Mr, OxvubwaLt—T0, protect iceponds in Weste CAULDWELL—TO, chester, Rockland and Putnam counties from wilful i a ari ‘Mr, Caxamer—To incorporate the New York and Brooklyn and New Jersey Pneumatic Transit Company; also the Cross Town Raliroad bill; also tho People’s Metropolitan and Suburban Railway in New Y ork. ILLS. PASSED, Authorizing the recording of wills by annexing a.cer- taficate of proot; to repeal the act relative to the taxing of the sales of brokers, ‘THE POLICE COMMIBSIONERSTUY, ‘Mr. Twaup called up the resolution fora joint meot- ing of.the two hauses on Wednesday next for the olec- tion of a Metropolitan Police Commissioner in the place of John G, Bergen, and it was adopted. ASSEMBLY. Aurasy, Fob. 7, 1868. ‘The Spsanue. prosonted the annual report of the Sus periatendent of the Banking Dopartment. MILLS REPORTRO FAVORABLY, Fixing the salarmes of clerka 4a the Brooklyn Jus- tices’ courts; amending the act relative to criminal ations, for an additi Justice of the Peace im Byrecase: to incorporate the New York Dzamaiic Union; to amend the charter of the city of Buifolo; to ainend ‘he charter of the National Travellers’ Insurance Com~ a BILLIS INTRODUCED, By Mr. Invinc—To provide for safety of life on New York city raitroads, By Mr. Kinnxan—To incogporate the Metropolitan and Suburban Railway By Me eae to raiso money by tax. By Mr. ato ‘amend the act relative to frauds in. assessments for local improvements in New York. ‘The Sruaker introduaed a bill in relation to the Law Library ta New York city. Adjourned to Monday evening at half-past seven o'clock, ‘There will bo a mesting of the Committees on Com~ gmerco and Navigation of the two houses next Tuosday afternoon, to hear argument for and against the Mighs land Suspension Bridge project ———— BROOKLYN INTELLIGENCE. Ixqurst on taE Booy ov Tus Love Svcrom.—Coronee Smith on Friday evening fn inquast over the body of the young man, Benjaman F, Bache, who, it is be- lieved, committed suicide during a At of jealousy while on a visit at the residence of Miss Graham, his aManced, on the aight of the 29th of January, Only two wit nesses wore examined, Miss Annie Graham and her mother, Mise Graham testified that the deceased had nt in his attentions to ber for the past two caliod at the house op the night of January jod to be im the best of spirits, took his de- vat ut tom o'clock at night, remarking that if he (id not catch a car he would be back in about ten min~ tes; hereturned, and while they were conversing oa the stoop he took out the pistol; he asked her to take it ‘and ahoot bim, and while he was flourishing tt about hia The jury rendered a verdict that the deosased came to his doath by jontally shooting himself whilegcaretessly handlin 1. AccIpant Av THe SoutH Severs Street Ferny. —Yestor. day afternoon Mr, Frederick Gropp, grocer, Fifth and North Righth stroots, KB. D., accidentally foll on the hidge at the South Goventh st forty, when an ox. ress wagon drove over bis pro body and crushed wh his legs, ‘ihe unfortunate man was taken to hig rosidence by am Officer of the Forty-Qlth preciact, pany: able the Supervisors af Now York