Newspaper of The New York Herald, January 30, 1862, Page 4

Newspaper of The New York Herald dated January 30, 1862 Page 4
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r " ~? 4 NEW YORK HERALD. JAM KB CORDOU BEHHBTT, EDITOR AND PROPRIETOR. OFFICE S. W. CORNKK OF FCLTON AND NASSAU STS. Volume XXVII Mo. *0 AMUSEMENTS THIS EVENING. KIBLO'S GARDEN, Broadway.?Jam Shore?Black B*to SUSAN. WINTER GARDEN, Broadway.?Naiad Qcsein?Toodles. WALLACE'S TUEATRE, No. 8U Broadway.?The Uo.netmoom. LAURA KEENE'S THEATRE, Broad w.iy.?Oca AmeuiCAK COUIIN HEW BOWERY THEATRE, Bowery.?Uarst BcknHam?JacatKa stkoi-?Llu-s akk Tkuaas. BOWERY THEATRE, Bowery?SttCi.VAT's NIticsal Cifccua. BARNUM'S AMERICAN MUSEUM. Broadway-Day and Ktpduis.?Uhuina?HlrrorOTAKUa, Wualc, and Uiuau CdBioamxa. :? BRYANTS' MINSTRELS, Mechanics' Hall, 475 Broadway.?W uo Stbuck Billt Pattkraon. _ HOP LEY'S MINBTREL8, Stuyveaant Inatit-.le, No. 053 wtvniun nj ^ iixivji ia.i ov.iii9) ?v. j MBLODEON CONCERT 1IALL. No. 339 Broadway.? Sonus. Dajtcks, Burlesques. Ac.?liuLioar in 1 IIELAN L>. CANTERBURY MUSIC HALL, 385 Broadway.? Soxas, Dances, Burlksquss, Ac.?Musu, the Niuut u*l GAIETIES jTONCERT ROOM, (16 Broadway.? Drawing Boom Lntei:ta;n mx.nts, Ballets, Pantomimes, Faeces, Ac. AMERICAN MU8IC HALL. 444 Broadway.?Soxes, Balarrs, Pantomimes, Ac. ?I'oktrait Rainier. CRYSTAI. PALACE CONCERT HALL, No. 45 Bowery.? Burlesques, Sonus, Dances, Ac.?O'Flanauax at tub Kami PARISIAN CABINET OK WONDERS, 603 Broadway.? Open dally from 10 A. M. till 9 1'. M. NOVELTY MUSIC HALL, 610 Broadway^?Burlesques Pones. Dances, Ac. Hew York, Thursday, January 30,1SG3. THE SITUATION. Nothing more of importance from the Burnsidc expedition has been received. The accident, % arising from the tempestuous weather which befel a few of our vessels and delayed the progress of tha expedition for a considerable time, only shows that we exercised our judgment prudently and patriotically in withholding the publication of the details of Gen. Utarnside's force, its strength, destination and objects. One of our city papers, violating good faith, has given publicity to facts that t nay be of service to the rebels, owing to the delay which the fleet has experienced, and for the paltry purpose of appearing to possess knowledge in advance of its cotemporaries, whereas the whole facts in connection with the expedition were within the reach of newspaper enterprise. But while other journals were conscientious enough to refrain from publishing the facts within their knowledge, the sheet referred to has done so to its own discredit, and probably to the assistance of the rebels. The Thirty-seventh New York Volunteers distinguished itself yesterday in a skirmish with a body of Texan Rangers who were ensconced in Mrs. Lee's house, on Oeeoquan bay. Colonel Hayman, of the Thirty-seventh, sent out a party of fifty men, under Lieutenant Colonel John Bnrke, on a reconnoissance, and upon reaching the house of Mrs. Lee they found it occupied by ten Texan rebels. They opened fire upon them, and killed nine of them, taking the remaining one prisoner. Another interesting instalment of Southern news from late papers has reached us. The Richmond Dispatch of the 27th inst. has an editorial on the blessings of peace. The subject is treated in a 8criptural tone, and compares the rebels and their cause to the Israelites in their pilgrimage to Ca naan. The article alludes to the independence of the South as already won, and makes large calculations of the benefits resulting therefrom. The Memphis Argxit of the 20th says that the inhabitants of Paris, Ky., are in a fearful state of trepidation from the fact that the Union army in large foroe had arrived at Murray, within twenty-fire miles of Paris, and were expected to advance on the latter town. According to the Memphis paper the people were leaving with their negroes and other property for some point South. A project is on root in the south to noia a c vention of the Southern Railroad CompunicR on i. 6th proximo, to devise measures for the manufacture of railroad iron and other articles of indispensable necessity. * The rebel chief, Major General Holmes, of Aqnia district, has published an order to his troops, urging those whose term of service is about to expire to re-cnlist for the warn He thinks it is the solemn duty of every man to dedicate himself to his coantry, until every foot of Southern soil is purged of the pollution of invasion. The capture of Cedar Keys, Florida, by our military and naval forces, is commented upon by late Savannah papers. The Republican thinks, "with the Tortnga*. Key West, Cedar Keys and Fort Pickens in possession of the Union army, there is nothing left of the State of Florida worth holdtog," and the RepuUican is not far out in its esti- I mats. Ths rebel newspapers still continue their speculations in regsrd to the Burnside expedition. Newborn, North Carolina, is in a ferment of excitement in expectation of an attack in that quarter. The town is nnder martial law, and every preparation is made for the reception of the Union troops. From a telegraphic despatch received from Wilmington. N. C., dated January 26, to the Richmond papers, it is stated that a British vessel, named the York, went ashore a few days since, north of Bwansboro', in Onslow county. North Carolina, and was subsequently burned by Union gunboats. By the arrival of the City of New York, the Glasgow and the mails of the Europe yesterday, we received our European flies to the 11th in?t., containing the details of the news telegraphed a fair days since from Newfoundland and Halifax to the Hnaan. It will be aeea that the report of the surronder of Mason and Hlldell produced a feeling of satisfaction ia the manufacturing districts, shipbuilding depots and commercial centres of England. Not so much, as we take it, on account of any approval of what might be supposed to be a triumph to the rebel cause of the Booth, as from the feeling that the solid interests, trade profit? and revenue of the British capitalists were saved from the losses which they would inevitably have sustained from a war between tlreat Britain and the United States. As an evidence of the prevalence of the spirit among the masses we find the London Tirmn deallag In the most costic abuse of Mason and Slhlell personally, and warning the people against Braking any display, cither from respect or Ku KL N, cariosity, "in their' behalf on their arrival They are both described as trading "revilera" and "haters" of England, and it is asserted that in her eyes they are of no more consequence than "two of their own negroes," and scarcely so important as Torn Saycrs when walking out with one of his friends of the "ring." The London Herald, the organ of Lord Derby and the aristocrats, states that the rebel ugents in London have ofTered on behalf of the Confederates the basis of a treaty of commerce to England. This journal holds forth the most liberal inducements for the recognition of the Jeff. Davis government by Parliament and the Queen. Great Dritain is to enjoy a perfect free trade with the revolted States, un equalization of her flag with | that of the South, a freedom of traffic on the coast, ! and the chance of supplying all the manufactured I goods required for the use of the working millions | in the seceded territory. On these grounds the DerbyiteB advocate the immediate recognition Of ai1/?Vi Avnnllnni /moinmorj The London papers assert that the Emperor Napoleon approved of Englan l's policy all through the T.cnt affair, without qualification; but it is easy to see, from the articles in the Paris journals, that the French people at large do not entertain such a h'gh oniuion of her honor aud international good faith. Indeed, the Opinione Nationale? the organ of Prince Napoleon?says that she will make war on the United States whether Mason and Slidcll were given up or not, and the writer warns France against abetting her designs against the Union. The news of the surrender of Mason and Slidell was announced from the stage in the Drury Lane and Olympic theatres, London, to delighted crowds. It appears that Lord Palnlerston concealed from I the people of England* all knowledge of Mr. Seward's despatch to Mr. Adams, in which the act of Captain Wilkes was described as one undertaken without the order or cognizance of the govern. | ment, although it had been read to the Cabinet by j our Minister in the third week of December. It is : now said that if this fact had been made public the | war excitement against America would never have : made so much nroeress. The Mexican Minister of Foreign Affairs has addressed a letter to the Mexican Consul in London on the subject of the foreign invasion of the republic. He states that Spain precipitated a war on his country at a moment when the government could, within a year, have paid off her debts to the European Powers, secured internal pence and consolidated her power by the extinction of faction. The design of the writer is to interest England, even yet, in behalf of Mexico and against the policy of Spain. COVGBESS. In the Senate yesterday, Mr. John B. Henderson, appointed Senator from Missouri, in place of the rebel Trusten Polk, was qualified and took his seat. The Naval Committee made a report, asking to be discharged from the further consideration of the subject of a steam mail line to San Francisco. A resolution calling for information as to the number of cavalry regimcuts in the service, distinguishing those mounted by States, and how many are necessary, was adopted. The resolution relative to breaking up the linc-ofbattlc ships Alabama and Virginia was referred. The joint resolution amending the rules so as to allow secret sessions of either house on subjects pertaining to the suppression of the rebellion was passed. The bill providing for the organization of the staffs of the various divisions of the army was taken up. An amendment to the effect that if a sutler violate the rules of sale lie be dismissed waa agreed to, nnd the bill passed. The consideration of the resolution regarding the expulsion of Senator Hright, of Indiana, was then resumed, and a lively debate ensued, which continued until the Senate went into executive session. Tn the House of Representatives, the bill making h usual appropriations for the executive, legislative and judicial expenses of the government was passed, with an amendment that nothing in the act shall prevent hereafter a reduction of salaries, and that mileage shall be allowed to Congre-siuen for each regular session only. A bill appropriating f3,000 for the purchase and distribution of cotton seed through the Patent OlHcc w.ts passed. The bill providing the usual pay nnd allowances to commissioned field ofTcers and cap.tains from the time they were authorized by utc rrvaiaeni, secretary 01 \rar or uovernor o? their State to raise a regiment was passed. The Senate hill authorizing the President to take possession of railroads unu telegraph lines iu certain rases was passed by a vote of 113 against 2d. In Committee of the Whole the Demand Treasury Note bill was called up. and Mr. Pendleton, of Ohio, made a speech on the subject. At the conclusion of his remarks the Army bill was taken up, and Mr. Gurley, of Ohio, delivered a speech, urg! ing a forward movement of the Union armies. | When he had finished the committee rose, and the House took up the joint resolution from the Senate providing for secret se??ions ou subjects connected i a ,th the war, which, after some debate, was adopt1 ed. and the House adjourned. MISCELLANE02J S2W8. In the State Senate yesterday the following bills, 1 nni'inji others, were introduced;?To correct the I abuses in regard to the relaying of pavements in this city; for the relief of owners of land formerly ' under water in front of thia city and Kings county, and authorizing the Kings County .Supervisors to borrow money to build a new court house. Notice w.ia given of a bill for incorporating the Xcw York Homeopathic College. A resolution was adopted requesting the Governor to inform the Legislature as to all proceedings under the act appropriating $500,000 to arm and equip the stato militjf. A resolution to the effect that the Canal Contracting Board be instructed to inquire into all claims and damages connected with the canals, and report thereon at each .-.r ion of the Legislature, was introduced and laid over. The bill amending the Brooklyn Common School act was ordered to a third reading. A resolution, instructing our Senators in ('onureas tn vol,, f-.r tt,? ,<r ic.-_.? ? .?.V >vi HIV VA|/Uini>/?I VI Dflimur liright. of Indians, was brought in, but wan tabled. In the Assembly, favorable reports were made on 'he billa to Amend the Knickerbocker Life In* surance Company'a charter, and to amend the general Fire Insurance law. The bill to legalise certain aets of our city Corporation waa moved forward to the first Committee of tho Whole. The bill authorising the Kings Connty Snpervisor* to aid volunteers' families was ordered to a third rending; oho that Amending the charter of the Repnbllc Fire Insurance Company. The concurrent resolution in favor of the expulsion of Senator Prlght was also introduced in the Assembly. Cancnscs were held last night by tho democratic and republican members of tho Regis, lature to nominate candidatea for State Superintendent of Public Instruction and for Regant of tho New York University. For tho former office Mr, Victor M. ltice, of Erie, was nominated by tho EW YORK HERALD, THl republicans, and Mr. Joseph Warren, of Erie, by the democrats. For Regent of the University, Mr. George R. Perkins, of Oneida, was nominated by both parties. We have news from the West Coast of Africa dated at Cameroona 29th of November, Old Calabar 3d, Bonny 7th, Lagos 10th, Cape Coast Castle 14th, and Siorra Leone 21st of December. Trade was brisk. Considerable excitement prevailed at Lagos, arising out of the recent cession of tha^ place to England. The native chiefs were discontented. Serious disturbances had taken place in Quioh territory, near Sierra Leone. All the troop9 and native militia had gone to that place. Desperate fighting was going on. A native stockade at Madcnka had been destroyed by the BritishMajor Hill was mortally wounded. Captains Jones aud H'illiums, Sergeant Evans and twenty-three privates were also dangerously wounded. The value of the munitions of war captured from Zollicofler's rebel army at Mill Spring' and Cumberland river may be estimated as follows:? Horses and mules $100,000 Wagons 60,000 Ordnance 35,000 Muskets 25,000 Boats 20,000 Stores 10,000 Total , $250,000 Ihe Superintendent of the Forage Department in St. Louis has given notico that he will receive no more forago purchased through the old secession Chamber of Commerce in that city. The Wisconsin Assembly, by an almost unanimous vote, havo expunged the joint resolutions, which were called the secession or State rights resolutions, passed by the republican Legislature in 1859. Donald McKay, of Boston, has ready for shipment to France and England sixteen hundred tons of white oak ship timber, for which lie is to receive sixty dollars a ton. One-half of it is in Boston and the other half in Delaware. Is the Secretary of the Navy aware of this fact? On the 25th inst. a flag of truce arrived at Munfordsville from Bowliug Green, asking for the body of General Zollicofler. Hie jury in the case of Samuel H. Merritt, tried for the murder of John Swain, secessionist, before Judge McCunn, in the General Sessions, came into Court yesterday?having been locked up during the night?with a verdict of manslaughter in the third degree. The jury recommended Merritt to mercy, and he was remanded for sentence. Felix Sanchez, who attempted to kill one of the keepers of the city prison, pleaded guilty to an assault with a dangerous weapon, and was sent to the State prison for five years. Charles Schultz was tried and convicted of an aggravated assault and battery upon Mary Whitworth. He will be sentenced on Saturday. . The wind during yesterday was from the northeast, with a drizzliug rain and thick -fog. The ( steamships Arabia and City of Manchester, for Liverpool, were detained in consequence, but will leave at an early, hour this morning, weather permitting. The Eastern boats left at their usual time. The boats on the different ferries made their regular trips without interruption. We have not heard of any accidents on the rivers. No business of public importance was transacted by the Commissioners of Emigration yesterday. From the usual weekly statement it appears that the number of emigrants who arrived here during the week ending on the 29th inst. was 260, making a total of 1,372 during the present year, against 2,369 up to the same date last year. The number of inmates remaining on Wand's Island is 810. The Treasurer's report shows a balance in the bunk of It,312 06. Skating was allowed yesterday on both the ponds of the Central Park: bat in consequence of the thaw, fog and drizzling rain the ice was far from being in a good condition for skating. Many persons visited the ice during the early part of the day; but us dusk approached they made the best of their way homeward. The Park generally presented unytiiing but uu inviting appearance to pleasure seekers. The market for beef cattJc was somewhat unsettled yesterday, from the fact that a large proportion ot the stock was delayed by the ice and snow on the railroad, and did not arrive until a late hour. Prices were rather ihnier, varying from 6c. to 9c. a the latter for extras. Cows and ..??1 .....i I ei 1 ?c-ui * JMCfl nnu ?] ?'-k uiiu um u.iugCM* ^iac|? iiTiu I nubs were rather scarce, and about 2ic. per bead higher. Swine sold ipiito freely at He. for still fed, and ilVJc. a 3'?c. for corn fed. The receipt* were beeves, 4'i cows, 223 veals, 7.10b sheep and laiul>* and 2!,.V.H) swine. Ibe cnituxi mark"! yesterday wa< firmer, and more ectivo. with sales of aboot "isi a S'.O bales, chioL'y to B|i|nr.ers,on the ha-is ol 3. c. for middling ami 04c. lor strict inidtllupland*. Ih) iiour market via inactive, ml sales light, while pricos were in the main unrlmugi'd. AVh.iat wss heavy, ami withoct salas of impnrta'. cc. Holders were unwilling to meet thu views vf purchaser. Corn wM dull, with in ideratc sales at 03c. fur Wunui.n mixod, in store. Provfelons weie raiher more active and firm, with aiei of n-w m -s at $10, end now p, iino at $.1 25 a $P', J. Puears v. ere quiet, and sale con fined to 44 hiwl*. Cuba nnd 3.000 bigs i'cru.vnbi i. Co!t'?e was quiet, end sales limlto !. I frights were moving to a lair extei.t at rates given in onotlmr column. IIATIKRAH l\td;r AN1> ITS B\KS AMI ClIASXEiJ?A ?Fkw Simpijc Raits.-In our report* of tho difiiculties experienced by the shins of the UunisiUe expedition at ILttteras inlet, a suspicion in thrown out against the loyalty op some of (lie local 1'iiion pilots, and against the truth of tho reports made to General Burn hlc ut Annapolis, us to the depth of water of said inlet. The.-o insinuations, we think, are ox. tremely unjust, a* a few simpl%f.i?ts will serve to show. Tho narrow sandspit which divides the waters of I'unilico and Albeinnrlo Sounds from the ocenn is nothing tnore than a long heap of shifting nand thrown up by the sea The outride eiio e lino is changed by every storm, ns are the soundings near shore, and the InlotH of tint sandspit by those sbirtiii; : ;vul Thus we have no rea-on to doubt that lfutteras Inlet rarriod over eight feet of waW tlire,, weeks ago, although Gen. Hurnside's vessels carrying over seven feet three inches stuck fist in nttempting to run through. Those terrible stonna had driven the sand from the shore lino into the Inlet. That is the simple explanation: and we cannot hold* men responsible for the irresistible foreos of stormy winds and waves upon n coast of shifting sands. Tub Pat ok tub Anvir.?The bill which is shortly to be brought before Congress for the reduction of the pay of tlio army is a measure which we do not hesitate to say is exceedingly ill advised nt the present time. It is true that the government ought to study economy as far as pr?sible, without injury to the public ser vice. Bat we have come to the conclusion that to reduce the pny of the army would be to impair its cfTlciency to some extent, by creating dissatisfaction among the officers thcraselvu* and increasing the embarrassments of their families. If retrenchment in the government expenditure is needed?and we think it is?let it be made in tho*pay of the persons holding civil appointments throughout the country. The army is only a temporary expense, nnd when this war is over it will be disbanded as rapidly as it was created. It is now engaged in a struggle upon which the very integrity of the Union depends, nnd wo ought r? to begrudge the money we pay for tho services of our gallon1 defenders. We consequently trust that the bill will be defeat?4. [RSDA Y, JANUARY" 80, 18 The National Finances and National Resources. Whosoever has read the important statement

of Mr. Spaulding, of New York, in the llouse of Representatives, published yesterday, intro" ducing the bill to authorize the issue of United States notes, and to mako provision for the redemption and funding thereof, and for the fund" ing of the floating debt of the United States, must have been agreeably startled at the announcement from official documents of the astounding progress of tho nation in material wealth during the last decade. It appears from the census returns, now for the first time published (the statistics having been expressly procured by Mr. Spaulding from the Census Bureau), that the value of real and personal estate in this country has more than doubled during tho ten years from 1850 to 1860. At the former period the aggregate value was seven bil. lions one hundred and thirty-five millions seven hundred and eighty thousand two hundred and i $7.1 H.V7H0.22M: in t.hA vprp lftfift the totul stood sixteen billions one bundred and sixty-one millions two hundred and sixty, one thousand two hundred and thirty-nine, ($10,161,261,239), being an increase of $9,025,418,011, or over nine billions?an increase of 125 per cent in the accumulated wealth of the country. A billion is a thousand millions, and the present value of the real and personal estate is therefore over sixteen thousand one hundred and sixty millions. Here, then, is the vast capital upon which will be based the bonds and Treasury notes about to be issued by the government for the sustainment of the war. In the history of nations was there ever such a foundation before for the credit of a government? What security in the whole world can equal this? All this property will be pledged to the pulic creditor, and he will have a first lien upon it. For the payment of the interest and the redemption of the principal of the debt already incurred for the war, and the estimated expenditure for its completion, it is proposed to impose an annual tax of $150,000,000, in addition to the present receipts from custom?. This whole tax, large as it may seem, is only the one hundred and seventh part of the value of the resources upon which it is to be levied, or considerably less than one per cent. Now Congress has a constitutional right to ' lay and collect taxes, duties, imposts aud excises, to pay the debts and provide for the common defences and general welfare of the United States." It would therefore be compe[ tent to the national legislature to levy the whole expenses of the war upon the people, and to pay in cash for everything as we go, instead of incurring a debt to be paid gradually in twenty years. But as the constitution also pro vide* that "Congress has power to borrow money on the credit of the United States" f<Ji' the same purpose, and as it is more convenient to the peoplo and less onerous and oppressive, to the present generation to spread our liabilities over twenty years than to pay them off in one year or two years, it is proposed to issue chills of credit"?in other words, Treasury de" m ind notes and six per cent bonds -into which said notes will be convertible at the option of the holder, and only to levy by tivxution the amount necessary to pay the interest of the bonds and provide a sinking fund for the re" demptiou of the principal. The aggregate of the debt incurred in various forms for the war to January 15 is $30(5,704,<5 13. The ustimated expenditure from thence to July 1 of tho present year?by which tiino it is hoped the war will be finished?is $313,233,387, and that includes SIOO.OOO.O'M) of indebtedness ?ot yet audited by the proper officers. The total expenditure up to July 1 would therefore be $<550,000,01)0. This amount would be about a twenty-fli'ih part of the value of the property of the n itlon, or four per cen*. if it should be all paid by ta^ raised in the current year. Now, even if it were necessary to do this, what loyal man, who thn; has any appreciation of the priceless blessings of the Union, would object? But it Is unnecessary. The national credit stands above that of every other nation, and a tax to pay the interest in coin, and to create a sinking fund for the principal, will be sufficient for every purpose <>f the government and the country. We are glad to perceive that the < huirman oi the ( ora- j mittee of Ways a id Means h is adopted the sag- ' gestion we have made, and that ho will propose ;\3 an amendment to the bill to pay* the interest in coin?an amendment which we trust the good sense of Congress will see the necos. j sity of adopting in order to prevent the depre. ciation of the national securities. Taking the most gloomy view possible of the war. and giving the wid" t margin for expenditure, let the period f?>r the pacification of the .South be extended to the 1st of July, and let the cost be one billion and two hundred millions of doll ($1,'200,(>.HM)U0), as Mr. .Span 1diug culcnla'i's it, which is three hundred millions (?:iO(t,000.000) more than the estimate of Mr. Chn?o. it would not break us if we were lo pay the whole amount during the next twenty years. It would be only three and one-eighth per cent per annum upon what we are worth. But when it is raised gradually In ?he form and manner proposed it will not be felt by this great aiul vigorous young nation. Let it be spread, not only over the whole of the real estate of the : country, but the personal, on the banks ' throughout tie United Stale, the specie in ' their vaults, on commerce and manufacture*, on railroads and steamboats and their passengers, on ga? companies on newspapers, and on all kinds of production niul business whatever rlma distributed, it w ill not be burthensotue to any, and the country will be repaid u thousandfold by the sustaiiuucnt of the national credit* and by the fruits of the successful prosecution of the war for the Union. The plan proposed, it will ho perceived, Is what wc have advocnted from the beginning in these coluinnr. It consists of three parts, which are, briefly, an follows:? 1 T)?l?? !_ iLA L~ 1. jvaiJN- uj i uA?iI iuII? in iihj uimriii jcttr, $150,000,000 over and above the amount received froin duties on imports. No nation, except England, has ever attempted to do this. The effect of the direct tax will be to make the people vigilant as to the manner in which their money is expended, and the public robbers inny expect their vengeance. 2. Issue $100,000,000 demand Treasury notes, not bearing interest, iu addition to the $50,000,000 authorized in July, making them a legal tondef, and exchangeable for United States six per cent bonds, to be issued; also giving authority to make a further issue of demand notes if the exigencies of the government require it. J. Issue all tho twenty years six per cent coupon bonds necessary to fund the demand * m. , Treasury notes to be now or hereafter issued? say $650,000,000 to July next, and pledging $39,000,000 of the new taxes to pay the half yearly interest of six per cent, and $32,500,000 as a sinking fund to redeem the principal in twenty years?being less than $72,000,000 in all. Thus, then, less than half the $150,000,000 tax will suffice to amply secure and redeem a national debt of $650,000,000; and if it were necessary to pay oif that amount in ten ycars( an annual tax of $150,000,000 would be sufficient for the purpose. But supposing the war debt on July 1, 1863, should amount to twelve hundred millions ($1,200,000,000), tho annual interest at 6 per cent would bo only $72,000," 000, and the annual sum necessary for the sinking fund would be $60,000,000?in all $132? 000,000. Now this is only about one-third the annual taxation of Great Britain; and who will pretend that the United States cannot bear taxation bettor than the British empire ? The relative stability of our government and its resources may be estimated by comparing the prices of its securities in time of peace with those of the principal nations of Europe. United States stocks have been as high as 125, and immediately before the commencement of our national troubles they ranged as high as 114 and 118. Even now, in the midst of the most gigantic rebellion in modern times, they are only 10 below par. The following table will show at what prices the national stocks of other governments are selling foY in time of peace:? KdkIi.'Ii consols 92 Fnjrli.ah 3 per cents 01 French rentes,4>? percent OS French rentes, 2>-i per cent 07 Rcsefam S per ceate os Kuseian 4K per cents 91 Ku.'-sisn 3 j>er cents 53 Auf-lriun 5 |>er cont metalliques GO Austrian national loau 81 Pruss'uu national loan ?7 Spanish 3 cor cents 50 Spanish new tUTerroii account 41 Dutch 4 per cents 08 Dutch 2)4 per conts G3 Turkish 6 por cents el 78 Turkish new 70 Moxicsn 3 per cents 28 The Treasury 7 3-10 notes already issued by our government during the war 6ell at par. They were depreciated 2% per cent by the ridicnlous rumors that Mr. Chase was paying them to contractors. If any were paid thut way the amount did not reach $50,000. But when it is known that the interest will be paid for the new bonds in coin, there is no reason that the demand notes based upon them should go below parAnd when the war is terminated a'l United States stocks will rise to their former high figure? for all the capitalists of Europe will eagerly purchase them, us the safest and most profitable iuvestment In the world None will desire tho American government to redeem its bonds; for if any holder wishes to part with what he owns he will have no difficulty in getting gold for them in the market, so good will be the credit of the government, and so secure the investment, resting, as it dees, vpon the faith of the whole people and the pledge of their whole pro' perty, amounting to sixteen billions of dollars! The Rebel Kaii.wat Communications? Looking Afteu the Inside Tiiack.?Our readers are aware that the rebel Confederate government and grand army of Virginia derive their inilitaiy supplies and reinforcements from the other rebel States by means of the great Southwestern railroad line through Last Tennessee' and the great Southern seaboard lines through North Carolina. All these lines of communication are now in danger from General l'urnside and Generui Sherman along the seaboard, end from the advanced detachments of Generui , Duel Is army of Kentucky, which, from their victory near Somerset, have ulready pushed forward into East Tennessee. The rebels begin to comprehend their danger, and arc beginning to move accordingly. From late Richmond papers it appears " that a well concei ted movement is on foot there for a general meeting in Richmond of railroad officers, on the Sth of February, to devise mcasuies for the manufacture of railroad iron.'' the discovery having been made that " to keep up a perfect railroad communication throughout the South requires an occasioned renewal of materiel." >V'e ?u.?peof, however, that th ? main of tli'i.4 r.i'ili' I.Mil inntiinv onfi>roM4i> io to provide the iron for cloning up un unfinished g?j> of some fony miles, more or Ico, of an inside lino of railroads between Richmond and the South, running down through the western part of North Carolina, and at a pretty safe distance from the army of Buclt, in Kast Torinovee, and of Iiur.i?ii!e, in Ma-tern North Carolina. Jeff. I!avis, in his last message to Congress, referred to the importi ice of finishing the work required to open this inside track. But the chances are now that the Richmond Itiilroud Convention will Lo too late; for, in ail proba- i bility, before this inside line is completed our j co operating Union armies, east and west, will j have made a connection across North Carolina, i A the rebels understand the game, they will f dualitie s go to work with some energy; but I the odds are p.gain*t th'-m; for it is evident that j General McClellan already has them in his grasp. I.e., us watch and wait. Tmk BfUJfsins Exricnmox.?It is a source of satisfaction to us to know that, notwithstanding the severity of the storm that overtook the expedition under Bur it.side, and although the latter consisted of u hundred and twetiiy-five vessels, only two?namely? the New York and Grape-hot?were actually lost, and of the three or lour that were driven a-liore it is expected that some, if not all, will he floated off again. It is even still more gratifying to learn that, of all the lives on board the hundred and twenty-live vessels of the Aont nnltr Hiena ttrnrn 1na( nnd ilinon u-Kiln pa? big from one vessel to another. The loss of the sixty or seventy horses belonging to the Hhode Island battery was, under iho circuni. stances, unavoidable. All the disaster that has attended this expedition, as well as that to I'ort Koyal, has been solely owing to the elements; but, notwithstanding all that the commanders of those have hail to contend against, they have not for a moment lost fortitude, but remained perfectly undaunted: and, in all probability, before this. Genera' Ilurnaide has struck the blow for which the expedition was organized. The expedition now being fitted out under Commodore Porter promi-es to carry out fully the design of these naval enterprises, and there is little doubt that if wo porsovere we shall soon be in possession of the whole of the Southern coast, from Norfolk to Matamoros, together with a hundred million dollars' worth of cotton, which .there will be little difficulty in capturing nud shipping to the North. We 1ihvc thereforo reason ivr congratu ' ? 1 ^ " 1 ' ! lation at the revolt# present and prospective of our naval expeditions to Southern coast. v ???? The Soathern Rebellion In the BrltUla pal>i'lament. In another part of this day's issue will be found two articles of a very refnar table and significant character, copied from the London Herald, Lord Derby's organ. They indicate the lino of policy which is to be pursued by the opposition in referenco to this country on the assembling of Parliament, which takes place on the 8th of February next. They are the more important from the fact that, in defining the system of tactics by which the tory party hope to pave their way to power, they lay bare to tho world the pluns and policy of Jeff. Davis and his associates. It will be recollected that soon after tho rebels installed their bogus government in Richmond several English members of Parliament visited this country, ostensibly on a tour of pleasure. It was remarked, however, that, .1 _r t LI ? lllbieuu ul prosing a luaouui'uic cum; iu raaiuiu* ing what was worthy to be seen in the North, they proceeded almost immediately to the rebel capital. The fact elicited some comment at the time; but it whs mot by a sturdy denial that the Southern peregrinations of these gentlemen had any more serious motive than that of mera curiosity. In the articles to which wc direct attention wo have, if not direct evidence, at least a strong presumption, that such was not the case. They went to Richmond for the express purpose of collecting facts to prove the inefficiency of the blockade, and to ascertain what the rebels would be disposed to do for English commerce, in the eveut of their being able to obtain tho recognition of their independence. It will be remembered that shortly after their departure from Richmond the President of the rebel confederation announced in one of hia messages that he had taken steps to prove to foreign governments the utter inefficiency of the blockade. That these pleasure seeking gentlemen were the parties through whom ho expected to accomplish this object there is every reason to believe. The evidence which they took home with them was, however, defeated by facts that could not be contested. Tho enormous rise that took place in all tho necessaries of life throughout tho rebel States was proof sufficient to all candid minds that the blockade was as efficient us the requirements of international law could reasonably exact; and, besides this, the officers of the English and French naval squadrons themselves bore testimony to the fact. The results of the remaining branch of the mission of these gentlemen, of course, are yet to be ascertained. The articles that we quote give us a full statement of the iuducomcnts held out to them by the rebel government in return for the promised recognition of the South. They may be thus briefly enumerated:?A treaty of commerce of the most liberal and comprehensive character; British merchants te be placed on terms of perfect equality with those of the South, and the flags of the two countries to he in all respects assimilated; the coasting trade to be thrown open to British vessels, and encouragement to be given to the establishment of direct lines of steamers between New Orleans, Charleston, Norfolk and the large English ports. These concessions, it was expected, would soon lead to the organization of a powerful opposition, which would either force the Pal. nierston administration out of office or compol u to recognise tnc rebels ana oreaK tne diockade. The Trent affair arrived to crown the hopes of the plotters, and the English press was largely subsidized to fan the flame of resentment which it excited. But that affair was managed so adroitly by our government that instead of operating to our prejudice it has turned all Luropo in our favor, whilst the miserable traitors that were the occasion of it arc knocked about and maltreated as if tbej were indeed a couple of that unfortunate race of whom the London Timra, erst abolitionist in its proclivities, speaks so contemptuously. The remainder of the game will soon be played outThe strength of the position of our government, the enormous mmy th t it has accumulated, the developcraent of our financial resources on a sound and lie. lthy basis, and the advance of our lund forces simultaneously with operations by our naval squadrons against the rebel coasts, will soon upset all the?o bright visions and schemes of European politicians, and give tu m cause for uneasy leilection as to the con-e. qnencus ol the ba^- a id noltisu line ot .policy which they have pursued to.vurdu us ever aiuco the beginning ol the war. ThkSio ? Ff.rvrr and tttr Commsxt.s o.-t.i? Fohiiun Pukss.?Wo observe that the English nn-1 French press stfll continue harping upon the blockade ot Charleston harbor by the stone fleet. The London Times in particular has taken occudon to use soino very hard names towards us in consequence, and it seems to regard the matter us an oulrege upon the civilized world and a disgrace to ourselves. But the English and French journals have far more reason to condemn the conduct of the South than the North; for, although wo have closed one harbor, wc havo opened another and a much flnor one. cbse by the old port?that of Port Boynl?having capacity sufficient to no* commodate the Great Eastern. But the South bmj done what we should never have donn * '* * under any ctruiimstancis. It his destroyed no fewer than a hundred and twenty-five lights >n different parts of tho coast, the loss of which may result in tho destruction of the lives of thousands of innocent people and millions o' dollars worth of shipping and othor property These lighthouses were erected by the federal government at great cost and considerable risk,and it will be difficult to repair such an mount of wanton mischief. Charleston, it is 11 < 1 . _ i .1 1 IV..I .1 ..k-lll.n won Known, una ncnn iuu uwmcu vi niroiii for thirty years, and in closing that one harbor by the sinking of vessels, wo have not acted contrary to precedent. In 1t>27 the French blockaded the harbor of RoAclle by a dyke, tho remains of which are still visible at low water, and the British blockaded the harbor of Boulogne in the very sara* manner that we have blockaded Charleston. Moroovcr, blockades of this description nra removable in the same way as sandbars? by I dredging?so that if ever it becomes desirable to reopen Charleston harbor it can be don*. It is therefore perfectly gratuitous on the part of the foreign press to view with horror our attempt, as it is called, to deprive future generations of tho blessings which nature has designed for them in the shape of harbors. It ii? further, unjust to say tiiat such proceedings are Hot ? of war against tho whole human race, and jhat by tho intervention of those who re pre

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