The New York Herald Newspaper, March 24, 1868, Page 6

NLW YORK HERALD BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. All business or news letters and telegraphic despatches must be addressed New Yorke Herat. K Letters and packages should be properly sealed, Rejected communications will not be re- turned. THE DAILY HERALD, published every day tn the ear. Four cents per copy. Annual subscription Price $14. Volume XXXIMT........:0..eceeeeeeee ee ee! No. 84 AMUSEMENTS THIS EVENING. WALLACK'S THEAT! ‘1sth street.— Pci ‘RE, Broadway and BOWERY THEATRE, Bowery.—PAs DE FASOINATION— ASSASSIN OF THE ROCKS—MIDNIGUT BANQUET. BROADWAY THEATRE, Broadway.—JOR. NEW YORK THEATRE, opposite New York Hotel.— CAMILLE. FRENCH THEATRE.—TuE GRAND DUCHESS, OLYMPIC THEATRE, Broadway.—Humpry Dumpty. NIBLO'S GARDEN, Broadway.—Toe Waite Fawn, NEW YORK CIRCUS, Fourteenth street.—GYMNASTICS, EQuEesTRiANtem, &c. ee COMIQUE, 514 Broadway.—BaLuet, Farce, 0. KELLY & LEON’S MINSTRELS, 720 Broadway.—SONGs, Ecorntaiciries, &c.—Granp Dutou “3.” STEINWAY HALL.— LE BULL'S GRAND CONCERT. SAN FRANCISCO MINSTRELS, 585 Broadway.—Etu10- PIAN ENTERTAINMENTS, SINGING, DANCING, &C. TONY PASTOR'S OPERA HOUSE, 201 Bowery.—Comio VocaLisn, NEGRO MINSTRELSY, &c. BUTLER'S AMERICAN THEATRE, 472 Broadway.— Bauer, Fancr, PANTOMIME, &c. . BROOKLYN ACADEMY OF MUSIC.—ITALIAN OPERA— Lvonretia BorGia. MRS. F. B. CONWAY'S PARK THEATRE, Brooklyn.— Lapy or Lyons, HOOLEY’S OPERA HOUSE. Brooklyn.—ETHIOPI{AN MINSTLELSEY—BULLESQUE OF THE WILLD Fawn. NEW YORK MUSEUM OF ANATOMY, 613 Broadway.— SCIENCE AND ABT. New York, Tuesday, March 24, 1868. IMPEACHMENT. ‘so sbch Court of Impeachment for the trial of President Johnson was opened again at one o'clock esterday. Chief Justice Chase took his seat and the Board of Managers were announced. Senator Davis submitted a motion that the present Senate not being a full representation of all the States was incompetent to form a Court of impeachment for the trial of the Presi- dent. It was submitted without argument and defeated, only the two Senators from Kentucky voting for it. Counsel for the President then read his answer to the articles, In regard to the removal of Stanton he denies that it was in contravention of the Tenure of Office law, as Stanton was appoipted ‘by Mr. Lincoln, and he was compelled to remove him tn order to obtain a judicial decision on the point. He denies the alleged conspiracy with Thomas, and tn regard to his public speeches claims the right to express his opinion before the people or before Con- gress, while denying that the tenor of his speeches was correctly reported. The answer was accepted by the court, and counsel then asked an extension of thirty days time to prepare for the trial, which was nega- tived, A motion of the Managers that application be filed to-day was agreed to, and, preceding argu- ment, on a further request of counsel for reasonable time, the court adjourned, The Board of Managers prepared their replication last evening. It reiterates the charges originally urged against the President, notwithstanding his denial. CONGRESS. i In the Senate yesterday bills were Yatroduced making appropriations for the expenses of the im- peachment trial, to reorganize the State Depart ment, to abolish the office of Superintendent of Ex- ports and Drawbacks and to reorganize the United States Circuit Court, all of which were referred to ap- propriate committees, At half-past twelve business ceased, and the Housejwas notified that the Senate was ready to proceed with the impeachment trial. Inthe House, under the Monday call of States, bills were introduced and referred to regulate the civil service, toamend the Bankruptcy act and for the examination of officers in the merchant service. Mr. Holman (dem.) offered a resolution that in the judgment of the House the government bonds should be paid in greenbacks, and moved the previous ques- tion, which was not seconded. Several attempts to place members on the record in the matter were made, but without success, and the resolution ‘was referred to the Ways and Means Committee, At one o'clock the House, in Committee of the Whole, attended the impeachment trial in the Senate Cham- ber, On returning, Mr. Bingham moved that the Managers of Impeachment have leave to file a repll- cation to the answer of the President. Some argument ensued, the democrats desiring to debate the repli- cation before it is fled, and on motion a recess was taken until this morning in order to act upon the replication, THE LEGISLATURE. In the Senate yesterday the Crosstown Ratiroad bili was defeated by a vote of 15 to 7. A bill was re- NEW YORK HERALD, TUESDAY, MARUH 24, i868—TRIPLE SHEET. and the national troops were in possession of Fort Liberte. A general amnesty had been decreed. Our Buenos Ayres correspondence is dated Febra- ary 16. The cholera had carried off several Ameri- cans, among them ex-Governor Dana, of Maine. It has now almost disappeared. The opposition to the Paraguayan war was very great among all classes. ‘The Erle cases came up again before Judge Bar- nard yesterday, in the matter of The People against Messrs, Diven, Lane and Davis, for alleged contempt in participating ina meeting of the board of direc- tors contrary to injunctions issued. The matters, after some argument, were referrea for further Proofsto John B. Haskin. Motions for 9 continu- ance of the injunctions against Daniel Drew and against all meetings of the board, so long as Frank ‘Work is excluded, were adjourned till Monday next. A schooner supposed to be the Alice Ridgway was wrecked during the late gale on Fishing Creek shoals, off the Jersey coast, and all hands were lost. ‘Three brothers travelling near Denver City, Colo- rado, were recently murdered by a companion, who escaped. R A secretary of an insurance company in Louis- ville recently charged by the president of the com- pany with embezzlement has made the same charge against his accuser. In the Sopreme Court, Part I., yesterday, before Judge Monell, an action was brought by Catharine Finnegan against C. 0. Nottbeck for damages al’ leged to have been sustained by her through loss of her husband, who was killed by the falling of a house the property of the defendant. Damages were laid at $5,000. The case was allowed to stand over until General Term, In the United States Commissioners’ Court yester- day, before Commissioner Betts, Thomas Kennedy, John Buen and William Ryan, charged with stealing @ barrel of whiskey from a distillery which was in their charge and custody as revenue officers, were committed for trial. Yesterday the schooner Memento collided with a ship in the river at the foot of Perry street, doing her some injury. Damages were estimated at $1,000, and upon declaration the schooner was taken pos- session of by a United States Deputy Marshal to await the action of the courts, The case of the United States vs. 1,209 casks of sherry wine, in the United States District Court, reached its twentieth trial session yesterday. There is some prospect that it will close by Thursday, next, when it will have occupied the court twenty-three working days. The whole of yesterday was occupied by one of the junior counsel in summing up for the government. Progress of the Revolution. Regarded in its historical as well as in its Folitical significance, the trial of the President of the United States is as important as was the trial of Charles the First. By the execu- tion of the King the party that carried that measure cast away the pretence that its pur- pose was the reform and purification of power, and showed that it was struggling only to secure the supremacy in the State of certain agitators. It had authority to correct abuses, and it proceeded to reconstruct the govern- ment in its own interest, thus plunging head- long into the disorganization of revolutionary tumult by way of remedying ancient evils, All before that had been the strife between the departments of government—a strife growing constantly more bitter and raging in battle, but still a strife between extreme interpreta- tions of prerogative. But that act was the assumption that the triumphant faction was the nation; for within a week after the King’s re- moval the Commons voted the abolition of the office of king and declared the other House of Parliament ‘‘useless and dangerous.” The significance of Mr. Johnson’s trial now is this: It shows that we have come to the es- sential fact that we have reached that point in our revolution where the triumphant faction abolishes the Executive. Impatient at even the mere hint of a restraint on ifs acts, it pro- ceeds to paralyze the arm that wields the sword of the nation, fearing for its ulterior purposes if that depositary of power remain intact. It matters not that there is neither a headsman’s axe nora guillotine in the case. This is the accident of the century. We live in an age when only the barbarous and unen- lightened Mexicans dare venture that sort of murder. But the political result is the same, and the removal of an Executive because he dissents from the opinions of the ruling faction as distinctly fixes the stage of revolutionary progress. Since the initiation of this step what have we seen? There have beena great hubbub, great excitement and noise among the radi- calleaders. Every day gives us the picture of turmoil at the national capital, and the only sounds that come thence are those of inflamma- tory haranguesand threats. Strangely enough, these radical leaders have the monopoly of all this. Never did the people over the country seem calmer than now in the face of this event. Only the other day New Hampshire went for the radicals. We should not be surprised to see Connecticnt go the same way. It is as if the people did not hear the news. What does this mean? For the explanation of a fact that seems so strange we must consider the pecu- liarities of the American people. How was it with the revolution that made the States inde- pendent? There was agitation for a great while, and the apathy of the people was as if they had no interest inthe quarrel. Politicians railed, and the people just ploughed and sowed and cut wood as if those were ordinary summers and winters. So it ported amending the military law by equalizing the New York brigades, In the Assembly articles of impeachment were Presented by the Committee on the Canal Investiga- tion against Robert ©, Dorn, Canal Commissioner. Bills were introduced to construct a railroad in Twenty-third and other streets in New York, and to amend the Metropolitan Fire laws and increase the pay of the Fire Department. “Bills to incorporate the New York and Brooklyn tron Tubular Tunnel Company; relative to wharves and piers in East river, and ceding David's Isjand to the United States were reported. EUROPE. The news report by the Atlantic cable is dated midnight yesterday, March 23. Mr. Gladstone's resolutions on the Irish Church, ‘which are of a very sweeping import for change, are to be debated in the English House of Commons at the close of May. The King of Prussia opened the session of the North German Parliament with a Speech from the throne, in which he augurs hopefully of the effect of the American natural- ization treaty. Poland is completely absorbed in the Russian empire by impertal ukase, Admiral Farra- gut is the recipient of marked attentions from the Papal government. Daniel Mantu’s remains were returned to Venice and received with great honor. The two Fenians lately sentenced to death in Man- chester have been reprieved, MISCELLANEOUS. We havespecial telegrams from Anatalo, Abyssinia, dated March 8 Theodorus had entrenched his camp at Magdala and was ready for battle. The British advance was near Lake Ashangee, under the per- sonal command of Lord Napier. We have special telegrams from Hayti, Venezuela, Porto Rico, Antigua and Colombia, The shocks of earthquake were atill felt in Porto Rico, one lasting ® whole day. Severe shocks were also feit in Antigua, The revolution in Venezuela still con- tinued. A railroad concession had been granted by the Colombian government to an Amert- ca company. The Haytian Cacos had been compietely defeated in pattie on the 9th inst., kept up for years, and the silent thought matured the great result. At last an insignificant fact, resulting from the tax on tea, fired the mine, and the nation flamed out in purpose at once enthusiastic and resolute. It was the same in the war against the Southern leaders. Politicians belabored one another, and the people, to all appearance, cared not. From one stage to another the contest went on. Resolutions, denunciations, threats of ruin—these are but windy words and never stir the equilibrium of the great, inert, patient mass; but each party in its bravado going a step further than the other, one finally committed itself to an act that invelved the very authority, dignity, even the existence of the nation. Suddenly, as if moved by one electric stroke, the whole mass of the people was up, and the shout of ‘‘Sumter !” indicated that men saw the necessity for movement and knew how to move, Every great movement of the American people has the same history. There is an unlimited freedom given to resolve, denounce and threaten. No discussion of topics can exhaust the patience of this people. It hears and determines, and because it hears 80 patiently and calmly it acts with all the more terrific precision and energy when the decisive moment comes, It will be the same in the case now before the country. Politicians of every peculiar stripe will be permitted to write their own sen- tences in the course they take in this movement for the abolition of the national Executive, People will look on patiently to see both houses neglect their duty; for all feel that the | fewer laws made the better. Men cau even content themselves to see the national finances in a ruinous condition ; for no one could expect a safo remedy from any man now in place. But let no man suppose that all this record is not every day weighed and tried in the brain of that great, quiet man of the people who is beyond the reach of the demagogue and the promiser of offices, The people are quiet yan now; but suddenly, some day, over whole North and West they will rise with the same energy and discriminate purpose in the determination of great questions they have hitherto shown, and will sweep away like 4 whirlwind all the corrupt, selfish, dangerous men who now believe they are so near to abso- lute, supreme power. So have the Ameri¢an people always made themselves felt. They are patient, because they would wrong no one, would never judge one party by the denuncia- tion of another ; but they who aim at the vital principles of government must secure for them- selves the fate of public enemies. Let no one, therefore, misinterpret the patience of the masses or despair for the country because the people take things so calmly. The Kilkenny Fight Among the Railroads. The fight among the railroad giants promises tobe a regular Kilkenny affair, and to last until the extreme end of the bear's tait and the very tips of the bull’s horns shall have entirely disappeared. The war of the rails, like the war of the roses, is spreading among all classes and conditions of men, and everywhere people are dividing up between the houses of York and Lancaster—Vanderbilt and Drew. On ’Change there are two distinct parties, and the contest between them is growing so-fierce as to affect personal relations, The courts are taking sides, and the judges are getting at logger- heads among themselves. Injunctions and counter injunctions, orders and counter orders, writs and stays of proceedings are flying about as thick as bullets in the Wilderness. The Legislature and the lobby are at work, hammer and tongs, and the rival forces are earning their pay with a zeal increased by the previous inaction of the sessicn. The newspapers have as yet had very little to say upon the subject, with the exception of the Albany organs, which natu- rally belong to the lobby, and one morning journal in this city, which takes a narrow, stockjobbing view of the question, and evi- dently understands nothing of its real merits. But the fight has extended to States, and while New York, through her legal terrors, invoked by the strong arm of the Central, drives the whole Erie Railway directors over to Jersey, where no Sunday liquor laws prevail, and where they are compelled to hold their stated prayer meetings in the midst of profane oaths and within the fumes of bald-faced whiskey, New Jersey throws her shield before the Erie Company, legalizes its acts upon her soil, and bestows upon it all the priviieges of a charter under her own laws. All this tempest in a teapot is caused by the attempt of Vanderbilt to obtain possession of the Erie Railway and the efforts of Daniel Drew to retain the direction in the hands of himself and his friends. The former gathers up Erie stock, makes a pool and obtains proxies sufficient to enable him to outvote the Drew party at the next election of directors, and to overthrow them as he overthrew the Wall street brokers and express “rings” in the Central Railroad Board last December. Drew and his friends issue a large amount of new stock for the double purpose of extending their six feet track and their own lease of power. If the issue can be sustained it will give them stock enough to swamp Vanderbilt's pool and outvote him at the next election. All the affected indignation of one party at the rascally stock operations of the other is mere bosh. The morality of Wall street possesses remarkable elas- ticity, and recognizes nothing unsaintly in the occupation of a bullor a bear. The best man is he who can make the sharpest corner ahd profit the most by it. The real matter at issue is, therefore, the possession of the Erie Railway direction, and the question whether that road shall remain under its present man- agement or pass into the same bands that now control the New York Central, Hudson River and Harlem roads. Vanderbilt is an excellent practical railroad man, and if the Erie road and all the con- necting roads in the West were managed as he could manage them the stockholders would probably be benefited by the change. The railroad capacity of Daniel Drew is mainly confined to stock operations, and while the abuse heaped upon him by jobbing newspapers is all nonsense, it will not be pretended that as a practical business manager he is equal to his great rival. But our people are not apt to favor monopolies, and hence the popular sentiment in this fight is not with Drew as an individual, but with the side he represents. The New York Central road has always been a grasping, overbearing corpora- tion, buying up Legislatures at wholesale and endeavoring to control the politics of the State. It meets with little sympathy outside its own dependents, and there is a general apprehen- sion that if it possessed the opportunity, through a monopoly of all the trunk lines, it would prevent any extension of the Erie six feet gauge, and would show no mercy to the public in its monopoly rates of fare and freight. The Legislature, itis true, could always con- trol and check the power of a monopoly; but we have already seen that rich railroad cor- porations can too easily control and check the Legislature, The passage of the law now being pushed at Albany to legalize the issue of the new Erie stock would defeat the attempt of Vanderbilt to obtain possession of the road, and would in- sure the continued rule of Drew and his party. Probably our people would be disposed to ery “a plague on both your houses,” and to trans- fer the road to new hands, if they could have their way. As it is, the real point in which they are interested is the completion of the competing six feet railroad track to Chica- go, 80 that the produce of the West can be brought to New York in large quantities and at low freights. They care nothing whether this work may be done under Vanderbilt or Drew as President of the Erie Railway directors; but they can see no good reason why the com- pany should not iasue ten millions or twenty millions of stock if the proceeds are needed to complete their road, and if the stockholders are satisfied that it is to their interest to un- dertake the work, President Johnson’s Apswer to the Articles We publish this morning the answers of the President to the articles of impeachment brought against him by the House of Represen- tatives. In answer to the first article the fact of Mr, Stanton’s removal and the appointment of General Thomas as Secretary of War ad in- terim are, of course, admitted; but the Preai- dent claims that he had the power of removal conferred upon him, not only by the con- stitu but by the Tenure of Office bill itself. The charge of conspiracy with General Thomas is denied, Mr. Johnson claiming that Mr. Stanton is not the legal Secretary of War, he having been appointed by a former President and commissioned to hold office at the will of the Executive. The charge of conspiring with General Emory is also denied. With regard to Mr. Butler’s article charging him with having made speeches calculated to bring the legisla- tive department into contempt, the President denies them at length, and claims the right of every American citizen to freedom of thought and of speech, After the answers, which are very voluminous, had been read, Mr. Johnson's counsel made application for thirty days of time in which to prepare for trial. The Impeachment Managers strenuously opposed this demand, and betrayed the greatest anxiety for a speedy close of the trial. In such haste were they that it was announced that the replication to the answers would be ready by one o'clock to-day, and, as will be seen in our Washington correspondence, a meeting was held yesterday evening and a general replication decided upon, By a strict party vote the Senate refused to allow the time asked for, and before a vote could be taken on a motion to grant such time as the court saw fit an adjournment was effected. It will be noticed that while the counsel for the President invariably address Mr. Chase as ‘the Chief Justice” and the Senate as ‘the honorable court,” that the Impeachment Managers address the one a8 “Mr. President” and the other as ‘the Senate.” Candidates for the Presidency—Shufling of the Cards by the Politicians. Father Hue, that famous Catholic explorer of the interior of China, relates that on one of his long journeys among that strange people his caravan embraced an unusual number of Jacks among the donkeys employed as carriers of the expedition; that these Jacks at .every resting place kept up such an intolerable bray- ing, especially towards the morning, as te render sleep impossible to the Abbé; that at last he complained of this to the master of the donkeys, who instantly replied that his gra- cious highness should no more be disturbed by this braying; that, sure enough, a quiet night with its refreshing sleep followed, and that on inquiring into the cause in the morning he was pointed to the noisy Jacks, each with a heavy stone tied to his tail. “That,” said the driver, ‘is the way we settle them. The jackass stands upon his dignity and will not bray un- less he can straighten out his tail, and with 4 heavy stone attached he can’t straighten it out, don’t you see? Every time he tries it the weight on his tail pulls him down and shuts his jaw.” Now, from the general silence among the democratic organs of this State touching their candidate for the next Presidency, we are inclined to suspect that their National Executive Committee has been tying down their tails each with some heavy weight, so that they can’t straighten them out. We can account in no other way for their remarkable silence on this important subject. But though remarkably silent just now, the democratic leaders hereabouts are not idle in the matter of their standard bearer for the coming national contest. They are holding Seymour in reserve to checkmate Pendleton and the West, while the head chiefs of this bailiwick—Messrs. Belmont and L. M. S. A. M. Barlow—through their special organ, are preparing the way for a clean sweep with George Francis Train, He has been “working up the Fenian vote in Ireland, and in whole pages of Train's letters, speeches and doggerel verses they (Belmont, Barlow & Co.) have been and are working up the Fenian vote here. This is a tremendous power to start upon; but in addition to this Train is backed up by Mrs. Cady Stanton, Mra. Susan B. Anthony, Miss Lucy Stone and all the Women’s Rights women, and they are backed up by “Old Ben Wade.” Furthermore, Train has his Crédit Mobilier at Cheyenne and his Crédit Foncier at Omaha, so that in his financial facilities he has immense advantages over all those other itinerant regu- lators of the republic, such as Carl Schurz, the Chevalier Wikoff, Colorado Jewett and Daniel Pratt, ‘‘the great American traveller.” Best of all, Train has adopted the style and title of “Young America,” and his escutcheon is emblazoned with advancing steam engines, telegraphs, greenbacks and ballot boxes, and retiring Indians and grizzly bears. Lastly, if for sixty thousand dollars a man of cash can purchase of the Tammany sachems a seat in Congress, what cannot George Francis do in the same quarter with the millions of his Crédits Mobilier and Foncier? If he has bought up the chief organ of Tammany for a trumpet, what isto hinder him from buying Tammany itself with all its chiefs and follow- ers? The democracy were somewhat astonished in 1864 with the nomination of Polk, and in 1852 with the nomination of poor Pierce; but they must look out or they will be still more astonished with their candidate for 1868, Nor are we quite certain that the republi- cans (the masses, we mean,) are sure of their favorite, General Grant. He has not been and is not the favorite of their leaders. What would the followers say if at the Chicago Con- vention Edwin M. Stanton were to turn up as the master of the situation? General Grant has committed himself, and he may be set aside by the radicals without fear that he will serve the opposition, The game has gone too far for that. Suppose, then, that in the old democratic wigwam of Tammany Hall a sort of neutral radical newspaper is set up by Senator Conkling and others, on a footing of a quarter of a million of money, and that all the company concerned are in the interest of Stanton as their first choice, is it not folly to imagine that they are in favor of Grant? Their journal is now only beating about the bush. Its twaddle in reference to Chase as the demo- cratic candidate and about Hoffman is all moonshine, Its only outspoken object at pre- sent is the removal of Andrew Johnson, With his removal things at Washington will be so bravely altered within a month that Grant may be induced to decline the Presidency, and Stanton may be set up by the radical managers at Washington in his place. Then Mr. Conk- ling’s newspaper, we guess, will show its colors, and his investment will perhaps’ begin topay. If Stanton has proved in the game of Presidential scene shifting more than a match for Andrew Johnson, after killing off Cameron, Seward and Chase, of the Lincoln Cabinet, and all the available generals of the army, but Grant, may he not, with Old Ben Wade to back him, cut out Grant himself? We think, at all events, that under the pre- sent embarrassments of the democracy in re- gard to their Presidential candidate, it is not improbable that the Fenians may bring them round to George Francis Train, and that Andrew Johnson’s removal may embolden the radicals to set aside General Grant and take up Stanton as the man best adapted for a thorough execution of their work. With Johnson removed the half-way radical mea- sures adapted to the conservative ideas of General Grant will surely be dismissed, and he must fall in with the ultra radical game or withdraw from the field. Jay Cooke Advertising Himself Again. Jay Cooke, a little Buckeye village banker’s clerk, has the pretension to issue every few days a pronunciamento on the national finances, and to inform the world what he did apd recommends should be done with regard to-this important matter. This is the great man who made a discovery equal to that of the mag- netic telegraph or of the steam power—the discovery that ‘‘a national debt is a national blessing.” He has made, too, another more important discovery to himself personally, and that is how to make millions of money in four or five years through the favor of Treasury ministers, and without any other financial ca- pacity than that of an ordinary clerk in one of our city banks. He happened by a lucky acci- dent to obtain the favor of Mr, Chase when that gentleman was Secretary of the Treasury, and from that time the foundation of his for- tune was laid. Any one who could not have become a millionnaire with the opportunities Jay Cooke had thrown in his way must be a very stupid man indeed. Yet, because he has had an immense fortune literally lavished upon him through the accident of his acquaintance with a Secretary of the Treasury, he imagines himself to be a statesman in financial matters, and presumes to lay down the financial policy of the government. We do not propose to comment upon his long rigmarole—which, by the way, has been pub- lished several times before—and shall refer simply to the only point or two worthy of the least notice. First, he says there is no use practically in agitating the question of pay- ing the five-twenties in greenbacks. In this he is right, because payment cannot be de- manded for a long time+to come, and by that time we may have returned to specie pay- ments; while in the meantime the government can buy up at the greenback market price and cancel as much of this debt as it may have spare currency funds for that purpose. It is nota practical question, therefore, just now. But Mr. Jay Cooke, like Mr. McCulloch, wants to force specie payments in order to make the bonds worth their face in gold, or, in other words, wants to increase the value of the bondholders’ property thirty to forty per cent, and to increase the weight of the debt upon the people in the same proportion, The true policy is to buy up as much of the debt as possible in the same depreciated currency in which most of it was paid for before we reach specie pay- ments. That willdo injustice to no one, and will relieve the people of a portion of the bur- densome debt. But while Jay Cooke says the payment of the five-twenties in greenbacks is not a practical question just now, he argues that the government is pledged and bound to pay these bonds in gold. His opinion of the law creating this debt, or his assertion as to its meaning, is only that of an individual; but he puts the obligation to pay in gold on another foundation also. He, Jay Cooke, promised those who purchased the five-twenty bonds that they should be paidin gold! Whether he, as the agent, went beyond the authority of law or not in order to sell the bonds and to get as much commission as possible is of no conse- quence ; Jay Cooke promised they should be paid in gold, and in gold they must be paid. The assertion, of Thaddeus Stevens, who intro- duced the bill, and of the members of Congress generally who passed it, that the payment of the principal of the five-twenties in coin was specially omitted, and that the reason of this omission was well understood at the time, is of no consequence as long as Mr. Jay Cooke understands the matter differently and pro- mised payment*in coin. We advise Mr. Jay Cooke to let this be his last pronunciamento, unless he wants to disgust the people by his assumption or to create greater hostility to the bondholders’ selfish clamors, Shylock-like the bondholders may extort the full face of the bond, right or wrong; but let them beware how they take the blood of their victim. Irregularities of the Post Ofmice. Our Panama correspondent complains of the irregular and evidently careless fashion in which the mails are made up and sent from the New York Post Office, He cites two instances which are certainly incompatible with the proper performance of public duties in that es- tablishment. One is the arrival at Panama, instead of at London, of a mail bag containing despatches for Mr. Charles Francis Adams, American Minister at the Court of England. Another is the receipt of a letter from this office to the Heratp correspondent at Panama, dated in January last, which had been sent to Bremen and returned to Central America. There must be great indifference and a misera- ble system in the New York Post Office when such things as these can occur, and we shall have to look forward to the advent of Greeley to the office of Postmaster General under Old Ben Wade in the hope that he will give usa better Postmaster in New York. But it is not alone in Panama that causes of complaint lie. We have something to say about the negligence practised at home. It frequently happens that when a European steamer arrives here at five or six o'clock in the afternoon the foreign papers for this office, which contain most valuable mat- ter, are not delivered to us until near midnight, and even our more important despatches and files from our correspondents abroad, containing ma- rine news and late volitical events do not reach us until the next morning, and thus fre- quently become of little or fio value. We recommend Mr. Kelly to look after the foreign mail bags, and have the contents, for which we pay pretty heavily, delivered in some time to be of use. We are afraid that the New York Post Office is demoralized, and needs a thorough renovation. mt The Alabama Claims, At the present moment the British public are ina high state of excitament on the ques- tion of the Alabama claims. The desire seems to be universal to have the difficulty over with as little delay as possible. The recent debate in the House of Commons on the sub- ject was unquestionably calm, dispassionate and dignified ; but to us on this side the debate had value chiefly because of the disposition it evidenced on the part of the entire House of Commons to do what was justand right. Stub- born as Lord Stanley remains on one point— the right of Great Britain to recognize the belligerent South—he is no longer opposed to arbitration; and to have the question sub- mitted to arbitration is clearly the desire of the House of Commons and of the entire British people, The pompous and dogmatic Mr. Harcourt, alias ‘‘Historicus,” notwith- standing the snubbing he has received from Lord Hobart, Mr. John Morley and others, continues to give the British government and the British public the benefit of his legal lore; but there is noticgably less swell in his style, less force in his dogmatism, and indications are not wanting of a growing conviction that after all Great Britain may have been in the wrong. ‘‘Historicus” does not object to arbi- tration, although he is rather angry with the New York Heratp for suggesting that such names as those of John Morrissey, Mike McCoole and Dooney Harris should be put on the mixed commission. It might not be diffl- cult to discover a reason for Mr. Harcourt’s antipathy to these honored names. The sophis- tical reasoning of ‘‘Historicus” would have small chance of success if opposed by the more vigorous and direct logic and by the less merciful “sockdollogers” of these doughty champions, « We can have no objection to having the en- tire question submitted to the decision of an umpire or of a mjxed commission, but the re- verse. It does appear to us, however, that our friends on the other side either fail to see or wilfully close their eyes to the real difficulty in the case. Theymake a great deal too much of the mere money part of the question. It is not money we want so much as redress for our wounded honor. Ten million dollars is the most we could expect to be adjudged by any arbiter or by any commission. But what is ten million dollars to us? We do not require the money. But even if we did, is it to be im- agined that the wrong done us could be righted by any such sum? It is not conceivable. No, Let them keep the money and welcome if we can have no other redress. It is well for them, however, to be reminded that our opportunity may come. Nay, it is not to be doubted that it will come. We can well afford to wait. The condition of Great Britain at the present mo- ment does not forbid the belief that our oppor- tunity is near at hand. The three kingdoms are rapidly tending towards‘ republicahism. But the monarchy and the aristocracy will not fall without a tremendous struggle. In spite of the marvellous skill of the Jew Prime Minisjer, the empire will be convulsed to its very centre. The need of troops at home will leave the de- pendencies and the colonies defenceless and weak. Then will be our opportunity, and then it will be our privilege to pay back in kind. With this prospect in view we can afford to be patient under delay. Kind for kind, that is the best redress we can have. Braok Crook ItLustratEp Papers.—These publications are becoming more glaringly inde- cent every day. They are offensive to the sight of every mgdest person who passes the paper stalls at every street corner. The last revolting indecency is a picture of a number of women, white and black, dancing the cancan in almost a state of nudity. Now, it is evident that the law can do little to suppress these publications as long as they have the sanction of the respectable portion of the community, who patronize the very things from which these papers get their inspiration—the ‘‘ Black Crooks,” ‘‘White Fawns” and ‘‘Humpty Dump- ties” of the stage. These illustrated sensa- tional journals only represent in engravings what they see in the theatre; and as so many respectable people give the light of their coun- tenances to immoral plays, it is hard to blame greedy publishers for contributing to their tastes in a degraded style of art. Oh, no; we :} must have the waters pure at the fountain- head before we can have a clear stream. GREELEY IN A Hurry.—Greeley is in a great hurry to get his Cabinet appointment under Old Ben Wade, and he cannot afford to wait a moment in his eagerness to push on the trial of Andrew Johnson. He is as irrepressible as flery steed in the circus. Therefore his cry of “on to Richmond” has assumed the tone of “on to conviction.” He will not have the President get either time for preparation or mercy or “benefit of clergy” when he is convicted. He must be ousted at once to make way for the President ad interim, who is expected to put Greeley into the Post Office Department. So howls the radical organ. FINE ARTS. ‘The lovers of art were favored last evening with @ private view of a choice collection of modern pic- tures belonging to Mr. J. P. Beaumont, This collec- tion consists of one hundred and sixty-seven works, including many of rare merit by distinguished living artists of France, Germany, Belgium and the United States, It will remain on exhibition, day and even- ing, until the 3d of April at Leeds’ Art Galleries, on Broadway. The masterpiece of Carl Becker, “A Carnival Scene in Venice;” “A New England Land- scape,” by Church; “A Westphalia Landscape,” by Bierstadt; “A Night Market in Amsterdam,” by Van Schendel; ishing Boats Of Schevening,” by Achenbach; “The Billet Doux,” by Amberg; “Con- stantinople at Twilight,” by Rosier, and “The Ara- bian Fruit: Seller,” by Devedeux, are among the numerous gems in the collection, which cannot fail to enlist the interest of artists and amateurs. HEAVY BOND ROBBERY. Some time between Saturday afternoon and yester- day morning the banking house of A. C. Kingsland & Sons, Np. 55 Broad street, was entered by means of false keys, and bonds of various denominations, amounting in all to the value of $40,000, were stolen, tagether with about $50 in currency. The perpetra- tors, It would seem, bad gone to the yauits under the sidewalk, and by removing the bricks between the compartinents managed to secure the plunder. An attempt was made to force open the large safe on the main floor, but for some reason appears to have been relinquished. The police were or pretended te be in mast blissful ignorance of the + atire allair,